All Sectors - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,040,091,047
1,671,976,688
1,016,570,378
75,870,066.
23,520,669.

1,031,847,650
184,141,804.
240,567,907.
200,602,772.
192,515,974.
214,019,193.
888,035,989.
273,013,633.
615,022,356.
283,197,903.

31,265,288.
251,932,615.
900,704,805.
375,854,763.
372,335,475.
3,519,288.
524,850,042.

2,570,950,510
2,406,191,233
164,759,277.
2,166,348,160

404,602,350.
162,470,261.
162,470,261.
49,293,805.
256,700,453.
73,133,159.
102,525,688.
5,763,814.

1,183,902,708
31,265,288.
81,041,606.
304,278,921.
.65
1.92
7.8
1.24
1.16
84.26

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.3
13.58
30.16
23.21
1.79
10.69
9.98
0.0
4.15
20.36
1

Financial Statement Analysis of Non Financial Sector

1,040,091,047
1,671,976,688
1,016,570,378

1,031,847,650

2,570,950,510
2,406,191,233

2,166,348,160
-

1,183,902,708

2011

(Thousand Rupees)
2007
2008
2009
2010
2011
1,211,065,8251,388,602,7652,125,231,1362,399,569,3822,577,953,301
0.0 335,787,126. 393,095,611. 252,818,561.
1,863,049,6942,090,354,4932,353,342,5082,701,730,5293,129,145,255
1,160,345,2451,329,643,7241,457,283,0421,648,111,5491,915,393,391
86,225,345. 96,644,794. 110,876,844. 123,520,746. 150,883,262.
50,720,580. 58,955,617. 89,797,542. 101,374,593. 103,669,302.
3,424. 163,409,580. 178,216,554. 224,655,781.
0.0 78,953,846. 78,771,074. 81,416,266.
1,196,256,0101,493,811,8741,453,923,9961,745,579,0182,074,105,356
169,690,216. 172,892,067. 166,066,865. 180,808,851. 161,069,237.
271,532,643. 362,026,984. 347,043,271. 388,157,796. 542,929,970.
249,058,585. 365,627,314. 551,314,713. 734,590,612. 803,291,474.
239,471,220. 250,034,020. 78,703,843. 97,156,197. 106,875,260.
266,503,346. 343,231,489. 310,795,304. 344,865,562. 459,939,416.
1,041,342,7861,422,133,4881,398,365,4261,703,807,6591,976,003,646
294,263,244. 420,103,842. 440,740,071. 502,986,188. 589,881,367.
747,079,542. 1,002,029,646957,625,355. 1,200,821,4711,386,122,278
352,081,328. 422,795,522. 986,589,310. 1,035,344,0711,080,701,277
86,708. 450,041,834. 489,049,840. 517,950,277.
0.0 114,550,887. 100,037,791. 106,562,092.
45,095,447. 49,685,847. 51,583,710. 37,690,370. 28,577,168.
0.0 52,036,756. 44,855,411. 40,536,232.
306,985,881. 373,022,967. 318,376,122. 363,710,659. 387,075,509.
1,013,897,7211,037,485,6291,194,200,3971,405,996,6701,595,353,730
404,678,003. 429,007,301. 478,802,009. 535,485,909. 571,219,169.
394,509,555. 419,555,437. 468,310,031. 518,737,224. 554,761,006.
10,168,448.
9,451,864. 10,491,978. 16,748,686. 16,458,163.
609,219,718. 608,367,344. 559,455,184. 662,854,783. 785,901,517.
0.0 116,913,253. 127,681,302. 150,607,959.
-61986
434,078,516. 534,039,775. 633,241,468.
110,984. 155,943,205. 207,655,978. 238,233,045.
2,837,922,6983,356,261,4593,606,873,5324,200,248,2145,001,126,193
2,632,698,1053,104,620,3973,240,312,3003,762,417,8474,419,654,200
205,224,593. 251,641,062. 366,561,231. 437,830,368. 581,471,993.
2,431,127,0432,859,768,5363,074,342,7413,573,104,4214,258,028,207
660,538. 1,580,683,8981,923,359,8832,369,084,823
54,383. 1,491,962,5581,648,063,2181,888,943,384
406,795,655. 496,492,923. 532,530,791. 627,143,794. 743,097,986.
185,378,145. 270,162,043. 255,463,428. 265,355,935. 308,630,106.
6,924. 96,995,311. 119,485,532. 132,229,698.
185,378,145. 270,155,119. 158,468,116. 145,870,403. 176,400,408.
30,381. 162,135,235. 187,430,663. 229,475,900.
67,127,434. 95,936,541. 149,464,952. 141,479,292. 175,694,628.
1,894. 111,685,452. 103,852,877. 135,323,037.
229,298,361. 202,877,547. 211,548,161. 316,411,604. 370,022,790.
60,628,299. 91,995,180. 77,546,182. 98,288,532. 128,074,196.
97,589,834. 106,194,151. 117,901,072. 123,173,010. 143,758,558.
2,995,809.
4,764,973.
7,711,576. 15,957,007.
8,511,590.
14,745. 309,071,418. 333,910,688. 288,365,870.
1,365,979,0491,460,281,1512,180,789,7072,441,340,7412,676,055,008
45,095,447. 49,772,555. 501,625,544. 526,740,210. 546,527,445.
71,080,228.
4,688,216. 16,100,907. 94,950,063. 98,190,036.
339,358,691. 469,876,397. 942,365,615. 1,029,726,3981,136,408,812
.63
2.37
8.78
1.18
1.15
85.67

.55
2.86
10.89
1.16
1.05
85.21

.57
4.14
15.29
1.01
1.04
85.24

.59
3.37
17.49
1.01
1.02
85.07

.54
3.51
16.06
1.08
1.05
85.14

1.37
10.24
23.95
17.99
1.73
10.45
-

8.08
0.0
4.3
25.82

1.78
7.67
19.78
14.36
1.04
9.27
6.04
0.0
2.65
24.84

2.
6.55
18.96
11.62
1.14
10.39
2.89
5.87
.13
2.85
25.42

1.95
8.19
24.34
13.69
1.77
10.82
4.05
7.53
.12
4.18
26.95

1.92
8.41
24.66
14.46
1.68
9.21
3.73
7.4
.09
4.34
28.59

Growth with Composition of Assets & Liabilities

3000
2500
2000
1500
Billion Rs

1000

6.9%

500
0
Non-Current
Assets

Current Assets Current Liabilities

2010

Growth & Composition of Operations

2010
6000
5000
4000
3000
Billion Rs
2000
1000
0

16.%

Sales

Profitability/Efficiency Ratios
24.34 24.66
25
20
15

13.69 14.46
8.19 8.41

10
Percentage
5
0
Return on Return on Return on
Assets
Equity
Capital
Employed

n of Assets & Liabilities

15.8%
13.8%

4.2%

urrent Liabilities

Non-Current
Liabilities

Shareholders
Equity
Growth

2011

f Operations
2011

Growth

15.6%

14.5%

Gross Profit

Net Profit Before Tax

Key Performance Indicators

2010
2011

8
7
6
5
4

7.53

1.95

2
Percentage
1
0

1.02

Current
Ratio

1.92

1.05

Debt
Equity
Ratio

Net Profit Earning

Margin

1,800.%
1,600.%
1,400.%
11.9% 1,200.%
1,000.%
800.%
600.%
400.%
200.%
0.0%

1,700.%
1,600.%
1,600.%
1,500.%
1,500.%
1,400.%
1,400.%

2010
7.4
2011
4.18

Net Profit Earning

Per Share
after Tax

4.34

Private - Overall
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
664,763,020.
959,600,900.
648,283,898.
40,324,958.
16,479,122.

621,941,724.
89,848,975.
200,558,394.
88,687,870.
123,573,162.
119,273,323.
548,413,096.
227,796,431.
320,616,665.
202,249,573.

18,018,318.
184,231,255.
536,042,075.
190,249,409.
186,731,275.
3,518,134.
345,792,666.

1,482,758,907
1,339,144,491
143,614,416.
1,265,818,995

216,939,912.
84,473,592.
84,473,592.
38,887,937.
124,875,660.
25,621,773.
47,163,883.
3,988,040.

738,291,648.
18,018,318.
52,090,004.
245,814,749.
.55
2.62
5.98
1.15
1.13
85.37

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.4
10.63
25.47
18.4
2.1
7.39
8.42
0.0
5.29
28.57
3

Financial Statement Analysis of Non Financial Sector

1,482,758,907
1,339,144,491

1,265,818,995
-

2011

(Thousand Rupees)
2007
2008
2009
2010
2011
942,329,121. 1,076,264,7891,658,368,3541,924,673,4292,048,178,178
0.0 299,008,708. 345,643,462. 212,847,072.
1,473,193,7251,641,235,4701,831,849,4832,164,840,6842,527,435,983
920,823,313. 1,054,613,9621,122,929,1741,321,304,6781,550,336,846
66,381,729. 74,578,793. 83,952,545. 97,543,270. 120,473,740.
21,505,808. 21,647,403. 37,322,482. 39,116,458. 40,994,528.
3,424. 153,523,304. 169,305,514. 182,319,705.
0.0 45,584,687. 49,303,316. 61,680,027.
923,248,645. 1,137,493,8401,046,348,7941,219,576,3821,454,643,990
140,585,060. 145,111,691. 147,878,970. 159,137,227. 134,795,206.
235,366,256. 297,817,744. 300,165,154. 323,577,285. 441,168,610.
160,085,822. 232,019,190. 318,882,885. 406,876,634. 472,682,168.
200,009,592. 209,965,374. 59,854,019. 67,476,594. 84,632,311.
187,201,915. 252,579,841. 219,567,765. 262,508,642. 321,365,696.
783,896,879. 1,059,182,4401,040,881,3881,245,408,7481,466,327,911
249,183,547. 361,617,683. 391,954,329. 435,113,123. 518,707,453.
534,713,332. 697,564,757. 648,927,059. 810,295,625. 947,620,457.
262,447,889. 305,483,257. 719,325,330. 773,293,401. 786,822,387.
86,708. 398,141,170. 454,846,473. 449,990,129.
0.0 105,752,575. 90,786,571. 97,237,915.
31,384,023. 37,255,704. 31,145,696. 19,395,454. 15,851,656.
0.0 27,342,919. 29,946,327. 21,130,565.
231,063,866. 268,140,845. 156,942,969. 178,318,576. 202,612,123.
819,232,998. 849,092,932. 944,510,431. 1,125,547,6621,249,671,866
318,182,576. 341,223,957. 388,338,334. 440,867,950. 469,926,916.
308,014,128. 331,772,093. 377,853,856. 424,126,765. 453,476,253.
10,168,448.
9,451,864. 10,484,478. 16,741,186. 16,450,663.
501,050,422. 507,757,991. 444,515,621. 503,668,121. 580,175,081.
0.0 108,765,811. 119,244,252. 142,097,064.
-61986
327,286,395. 383,290,163. 436,025,927.
110,984. 111,656,476. 181,011,591. 199,569,870.
1,951,927,6022,261,072,3642,413,693,1732,861,308,1053,510,395,837
1,746,703,0092,009,432,8652,047,131,9412,423,477,7382,928,923,844
205,224,593. 251,639,499. 366,561,231. 437,830,368. 581,471,993.
1,678,644,1371,942,315,3892,041,799,9992,427,850,3122,965,453,414
660,538. 1,391,342,7641,727,393,4482,143,003,021
54,383. 648,760,950. 698,775,544. 822,450,393.
273,283,465. 318,756,975. 371,893,174. 433,457,794. 544,942,423.
133,259,219. 186,234,341. 195,196,719. 211,218,157. 245,624,298.
6,924. 84,138,257. 106,266,643. 115,626,053.
133,259,219. 186,227,417. 111,058,462. 104,951,514. 129,998,245.
30,381. 122,429,317. 143,882,313. 179,936,799.
55,508,390. 82,255,840. 127,392,147. 110,824,740. 141,658,404.
1,894. 96,893,538. 90,133,574. 121,860,517.
140,859,929. 101,910,213. 106,918,799. 169,849,966. 230,958,081.
32,990,556. 52,453,252. 44,743,352. 57,724,226. 79,071,525.
49,838,083. 46,261,653. 70,197,773. 86,509,839. 100,999,406.
2,252,818.
3,941,970.
6,051,855. 12,287,412.
6,622,560.
14,745. 234,873,520. 206,517,140. 184,472,742.
1,081,680,8871,154,576,1891,663,835,7611,898,841,0632,036,494,254
31,384,023. 37,342,412. 429,286,866. 474,241,927. 465,841,785.
58,031,290.
3,195,308. -8022326
25,615,902. 50,887,150.
280,567,570. 398,960,095. 821,241,195. 909,355,050. 984,549,238.
.64
2.84
8.2
1.05
1.18
86.

.55
3.64
10.26
1.02
1.07
85.9

.51
5.28
13.21
.89
1.01
84.59

.51
3.87
14.22
.91
.98
84.85

.47
4.04
13.47
1.
.99
84.48

1.28
8.94
20.79
15.48
2.16
8.29
-

7.22
0.0
3.52
26.76

1.61
5.
12.22
9.11
1.07
7.59
2.10
4.51
0.0
1.5
25.74

1.86
4.35
11.92
7.59
.89
8.04
4.43
.13
1.64
24.9

1.79
5.81
16.41
9.53
1.3
8.84
2.88
5.94
.1
2.62
26.35

1.8
6.95
19.45
11.74
1.5
7.96
2.90
6.58
.08
3.33
27.37

Growth with Composition of Assets & Liab

2500
2000
1500
Billion Rs

1000
6.%

500
0
Non-Current
Assets

Current Assets Current Liabilities

2010

Growth & Composition of Operations

2010
4000
3500
3000
2500
2000
1500
1000
500

18.5%
Billion Rs

0
Sales

Profitability/Efficiency Ratios
20

19.45

18
16
14
12
10
Percentage 8
6
4

16.41

9.53
5.81 6.95

2
0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

1,800.%
1,600.%
1,400.%
1,200.%
9.9% 1,000.%
800.%
600.%
400.%
200.%
0.0%

16.2%
15.1%

1.7%

urrent Assets Current Liabilities

Non-Current
Liabilities

2011

Shareholders
Equity
Growth

omposition of Operations
2011

Growth
3,000.%
26.5%
2,500.%
2,000.%
1,500.%
1,000.%

20.5%

500.%
0.0%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

2010

2011

2010

6.58
5.94

2011

11.74 5
4
3

3.33
2.62

Percentage
2

1.79 1.80
0.98 0.99

1
0
Current
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earning
Per Share
after Tax

Public - Overall
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
375,328,027.
712,375,788.
368,286,480.
35,545,108.
7,041,547.

409,905,926.
94,292,829.
40,009,513.
111,914,902.
68,942,812.
94,745,870.
339,622,893.
45,217,202.
294,405,691.
80,948,330.

13,246,970.
67,701,360.
364,662,730.
185,605,354.
185,604,200.
1,154.
179,057,376.

1,088,191,603
1,067,046,742
21,144,861.
900,529,165.

187,662,438.
77,996,669.
77,996,669.
10,405,868.
131,824,793.
47,511,386.
55,361,805.
1,775,774.

445,611,060.
13,246,970.
28,951,602.
58,464,172.
.81
.96
10.28
1.39
1.21
82.75

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.15
20.52
42.96
35.34
1.52
27.2
12.11
0.0
3.31
14.32
5

Financial Statement Analysis of Non Financial Sector

1,088,191,603
1,067,046,742

2009
466,862,782.
36,778,418.
521,493,025.
334,353,869.
26,924,299.
52,475,060.
9,886,276.
33,369,159.
407,575,202.
18,187,895.
46,878,117.
232,431,828.
18,849,823.
91,227,539.
357,484,038.
48,785,742.
308,698,296.
267,263,980.
51,900,664.
8,798,312.
20,438,014.
24,693,837.
161,433,153.
249,689,967.
90,463,675.
90,456,175.
7,500.
114,939,563.
8,147,442.
106,792,121.
44,286,729.

2011

(Thousand Rupees)
2010
2011
474,895,953. 529,775,123.
47,452,149. 39,971,489.
536,889,845. 601,709,272.
326,806,871. 365,056,545.
25,977,476. 30,409,522.
62,258,135. 62,674,774.
8,911,040. 42,336,076.
29,467,758. 19,736,239.
526,002,636. 619,461,366.
21,671,624. 26,274,031.
64,580,511. 101,761,360.
327,713,978. 330,609,306.
29,679,603. 22,242,949.
82,356,920. 138,573,720.
458,398,911. 509,675,735.
67,873,065. 71,173,914.
390,525,846. 438,501,821.
262,050,670. 293,878,890.
34,203,367. 67,960,148.
9,251,220.
9,324,177.
18,294,916. 12,725,512.
14,909,084. 19,405,667.
185,392,083. 184,463,386.
280,449,008. 345,681,864.
94,617,959. 101,292,253.
94,610,459. 101,284,753.
7,500.
7,500.
159,186,662. 205,726,436.
8,437,050.
8,510,895.
150,749,612. 197,215,541.
26,644,387. 38,663,175.

2007
268,736,704.
389,855,969.
239,521,932.
19,843,616.
29,214,772.
273,007,365.
29,105,156.
36,166,387.
88,972,763.
39,461,628.
79,301,431.
257,445,907.
45,079,697.
212,366,210.
89,633,439.
13,711,424.
75,922,015.
194,664,723.
86,495,427.
86,495,427.
0.0
108,169,296.
-

2008
312,337,976.
449,119,023.
275,029,762.
22,066,001.
37,308,214.
356,318,034.
27,780,376.
64,209,240.
133,608,124.
40,068,646.
90,651,648.
362,951,048.
58,486,159.
304,464,889.
117,312,265.
12,430,143.
104,882,122.
188,392,697.
87,783,344.
87,783,344.
0.0
100,609,353.
-

885,995,096.
885,995,096.
0.0
752,482,906.
133,512,190.
52,118,926.
52,118,926.
11,619,044.
88,438,432.
27,637,743.
47,751,751.
742,991.
-

1,095,189,0951,193,180,3591,338,940,1091,490,730,356
1,095,187,5321,193,180,3591,338,940,1091,490,730,356
1,563.
0.0
0.0
917,453,147. 1,032,542,7421,145,254,1091,292,574,793
189,341,134. 195,966,435. 226,081,802.
843,201,608. 949,287,674. 1,066,492,991
177,735,948. 160,637,617. 193,686,000. 198,155,563.
83,927,702. 60,266,709. 54,137,778. 63,005,808.
12,857,055. 13,218,889. 16,603,645.
83,927,702. 47,409,654. 40,918,889. 46,402,163.
39,705,918. 43,548,350. 49,539,101.
13,680,701. 22,072,804. 30,654,552. 34,036,224.
14,791,914. 13,719,303. 13,462,520.
100,967,334. 104,629,362. 146,561,638. 139,064,709.
39,541,928. 32,802,829. 40,564,306. 49,002,671.
59,932,498. 47,703,300. 36,663,171. 42,759,152.
823,003.
1,659,721.
3,669,596.
1,889,030.
74,197,897. 127,393,548. 103,893,128.

284,298,162. 305,704,962. 516,953,947. 542,499,678. 639,560,754.

13,711,424. 12,430,143. 72,338,678. 52,498,283. 80,685,660.
13,048,938.
1,492,908. 24,123,233. 69,334,161. 47,302,886.
58,791,121. 70,916,302. 121,124,420. 120,371,348. 151,859,574.
.61
1.31
10.04
1.64
1.06
84.93

.56
1.25
12.2
1.64
.98
83.77

.75
1.85
19.48
1.36
1.14
86.54

.83
2.29
24.48
1.34
1.15
85.53

.74
2.28
22.18
1.3
1.22
86.71

0.0

1.78
15.19
40.79
29.28
1.27
24.5
-

2.55
16.68
52.72
34.23
1.02
17.06
-

9.98
0.0
7.03
22.51

9.22
0.0
7.
21.46

2.5
13.56
47.77
25.44
1.51
25.45
8.07
8.77
.12
7.94
27.6

2.57
15.63
55.29
27.67
2.89
20.73
11.68
10.95
.18
11.2
29.64

2.32
12.94
44.42
23.53
2.11
14.65
11.33
9.33
.13
8.89
34.13

Growth with Composition of Assets & L

700
600
500
400
Billion Rs
200
100

10.4%
300

0
Non-Current
Assets

Current Assets Current Liabilities

2010

Growth & Composition of Operations

2010
1600
1400

10.2%

1200
1000
800
Billion Rs

600

400
200
0
Sales

Profitability/Efficiency Ratios
60

55.29

50
40

44.42

30
Percentage 20

27.67
15.63
12.94

10
0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

18.9% 20%
1,500.%
1,000.%

15.1%
10.1%

10.8%

500.%
0.0%

urrent Assets Current Liabilities

Non-Current
Liabilities

2011

Shareholders
Equity
Growth

omposition of Operations
2011

Growth
1,200.%
1,000.%
800.%
600.%
400.%
200.%
0.0%
-200.%

2.3%

-400.%
-5.4% -600.%
-800.%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

2010
12

10.95

2010

10

9.33

2011

11.2
2011
8.89

23.53 6
Percentage 4
2
0

2.57 2.32
1.151.22
Current
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earning
Per Share
after Tax

Textile Sector - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
212,250,458.
317,249,011.
208,146,347.
14,349,481.
4,104,111.

197,687,321.
6,235,092.
82,927,224.
32,402,586.
46,168,830.
29,953,589.
183,180,209.
116,186,495.
66,993,714.
80,275,107.

8,555,688.
71,719,419.
146,482,463.
42,115,059.
40,482,391.
1,632,668.
104,367,404.

311,856,124.
192,202,341.
119,653,783.
275,649,576.

36,206,548.
14,334,820.
14,334,820.
16,963,954.
10,431,678.
2,880,023.
1,729,135.
533,902.

226,757,570.
8,555,688.
5,822,520.
124,742,183.
.46
5.44
10.39
.76
1.08
88.39

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.8
2.76
7.97
5.04
4.37
3.76
3.35
0.0
1.85
35.96
9

Financial Statement Analysis of Non Financial Sector

2011

2007
228,100,596.
337,568,522.
223,988,054.
16,140,749.
4,112,542.
236,377,124.
6,495,689.
86,741,516.
38,073,754.
51,321,939.
53,744,226.
215,101,682.
110,907,155.
104,194,527.
78,166,031.
10,547,159.
67,618,872.
171,210,007.
45,054,477.
42,621,791.
2,432,686.
126,155,530.
-

2008
220,912,726.
341,072,977.
220,810,198.
17,833,078.
102,528.
277,744,869.
4,621,159.
111,657,992.
45,946,849.
63,622,133.
51,896,736.
250,538,128.
149,626,490.
100,911,638.
85,972,326.
4,626,163.
81,346,163.
162,147,141.
46,973,656.
45,317,698.
1,655,958.
115,173,485.
-

2009
347,034,033.
38,700,506.
381,238,238.
246,590,349.
16,509,202.
5,810,569.
50,853,653.
5,078,956.
220,764,916.
6,268,343.
112,960,861.
58,409,833.
4,563,775.
38,562,103.
257,359,194.
182,685,144.
74,674,049.
135,542,336.
102,228,476.
14,708,347.
2,832.
2,994,925.
15,607,755.
174,897,422.
50,126,281.
48,332,051.
1,794,230.
81,082,580.
20,925,458.
61,418,927.
43,688,561.

(Thousand Rupees)
2010
2011
358,168,583. 380,392,534.
47,176,580. 22,885,502.
372,083,989. 433,251,621.
235,645,803. 283,737,507.
17,689,475. 19,353,279.
5,785,696.
5,569,061.
64,059,960. 64,171,743.
5,500,544.
4,028,721.
222,298,091. 281,972,049.
5,857,507.
7,773,735.
109,909,355. 138,294,157.
59,539,067. 80,246,264.
5,284,651.
4,624,543.
41,707,510. 51,033,350.
241,261,254. 288,374,328.
168,706,556. 198,995,593.
72,554,698. 89,378,736.
124,556,495. 130,490,650.
92,092,033. 96,907,039.
13,133,074. 12,891,520.
327,832.
1,396,376.
3,292,347.
3,673,254.
15,711,210. 15,622,461.
214,648,925. 243,499,601.
49,903,264. 49,867,380.
48,784,372. 49,033,865.
1,118,892.
833,515.
115,227,658. 141,031,312.
31,470,475. 41,809,683.
85,018,988. 99,221,629.
49,518,003. 52,600,909.

350,130,616.
195,906,902.
154,223,714.
310,289,195.
39,841,421.
15,672,433.
15,672,433.
22,144,033.
10,283,156.
5,336,408.
1,126,311.
86,189.
-

383,786,985.
222,647,661.
161,139,324.
343,454,319.
40,332,666.
19,619,114.
19,619,114.
28,671,518.
6,388,872.
15,991,836.
1,647,899.
1,638,520.
-

443,804,227.
234,626,351.
209,177,876.
387,564,218.
248,302,824.
137,662,269.
56,240,009.
28,651,091.
12,650,381.
16,000,710.
32,619,338.
39,389,074.
35,623,317.
-4345104
2,970,199.
1,529,981.
176,401.
25,892,456.

506,447,318.
245,199,789.
261,247,530.
425,930,509.
278,202,546.
146,128,839.
80,516,810.
28,238,869.
14,101,693.
14,137,176.
36,296,492.
32,794,015.
29,723,002.
29,435,383.
4,867,193.
4,382,240.
907,088.
26,127,141.

714,371,468.
326,832,148.
387,539,320.
621,981,502.
464,471,370.
157,510,131.
92,389,966.
32,606,618.
17,348,019.
15,258,599.
49,070,512.
39,454,266.
36,034,069.
33,529,619.
7,320,587.
6,375,328.
92,323.
14,238,908.

249,376,038. 248,119,467. 310,439,758. 339,205,420. 373,990,251.

10,547,159.
4,626,163. 102,231,308. 92,419,865. 98,303,415.
-8845284
3,820,437. -11250863
20,185,949. 19,833,704.
121,454,314. 154,252,653. 284,916,452. 261,126,421. 297,299,008.
.45
6.32
10.87
.75
1.1
88.62

.46
7.47
11.97
.77
1.11
89.49

.27
8.88
13.16
.78
.86
87.33

.29
6.48
11.76
.87
.92
84.1

.32
5.52
11.23
1.08
.98
87.07

1.71
2.35
6.47
4.32
4.39
4.04
-

2.08
1.33
3.83
2.57
-5.83
3.44
-

2.94
0.0
1.26
43.57

1.66
0.0
-2.15
36.32

2.25
-.81
-2.58
-1.56
-4.78
3.93
.88
-.98
.07
-1.51
36.19

1.7
5.13
15.11
9.06
5.61
4.61
1.99
5.81
.07
5.04
44.

1.72
5.4
14.64
9.4
4.11
5.17
1.93
4.69
.03
5.34
49.61

Spinning, Weaving, Finishing of Textiles - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
177,420,107.
255,127,090.
173,425,926.
11,496,599.
3,994,181.

156,945,197.
4,993,308.
64,061,373.
26,472,128.
37,365,210.
24,053,178.
145,414,297.
97,794,309.
47,619,988.
68,355,574.

8,509,306.
59,846,268.
120,595,433.
31,960,034.
30,327,366.
1,632,668.
88,635,399.

251,119,768.
146,072,913.
105,046,855.
221,171,454.

29,948,314.
11,750,269.
11,750,269.
14,094,605.
8,141,009.
2,330,512.
1,515,176.
495,570.

188,951,007.
8,509,306.
4,295,321.
106,303,615.
.47
5.61
10.54
.75
1.08
88.07

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.77
2.67
7.62
4.79
3.83
3.92
3.24
0.0
1.9
39.43
13

Financial Statement Analysis of Non Financial Sector

2011

2007
193,890,922.
273,876,718.
189,830,658.
12,960,866.
4,060,264.
193,092,797.
5,330,618.
68,554,375.
30,870,119.
41,809,185.
46,528,500.
175,913,345.
95,095,280.
80,818,065.
67,149,418.
10,540,777.
56,608,641.
143,920,956.
34,795,670.
32,362,984.
2,432,686.
109,125,286.
-

2008
185,947,125.
274,213,189.
185,891,248.
14,311,281.
55,877.
229,071,376.
3,642,405.
91,188,102.
37,788,215.
53,921,970.
42,530,684.
204,407,968.
129,239,421.
75,168,547.
72,400,336.
4,626,163.
67,774,173.
138,210,197.
36,712,180.
35,056,222.
1,655,958.
101,498,017.
-

2009
296,182,210.
34,045,125.
315,068,483.
214,846,714.
13,108,617.
5,763,501.
37,048,429.
4,478,441.
189,575,352.
4,352,467.
97,303,901.
51,304,545.
4,518,889.
32,095,550.
215,619,691.
159,451,486.
56,168,205.
116,807,535.
88,695,517.
13,652,353.
2,832.
2,305,790.
12,151,043.
153,330,340.
40,477,057.
38,682,827.
1,794,230.
73,737,478.
17,834,249.
57,221,276.
39,115,805.

(Thousand Rupees)
2010
2011
304,111,194. 321,605,196.
29,419,551. 20,352,432.
327,429,055. 366,240,764.
214,151,920. 241,761,717.
13,747,280. 15,217,351.
5,750,198.
5,509,726.
49,483,855. 50,117,229.
5,305,670.
3,864,092.
194,244,020. 234,930,077.
4,612,505.
6,884,478.
93,718,637. 112,451,727.
55,005,186. 68,457,196.
5,156,577.
4,622,837.
35,751,115. 42,513,840.
214,128,022. 245,683,596.
155,565,337. 172,114,885.
58,562,685. 73,568,711.
101,210,677. 106,215,095.
73,038,692. 77,442,617.
12,069,260. 11,881,107.
327,832.
1,396,376.
2,562,884.
2,767,335.
13,212,010. 12,727,659.
183,016,512. 204,636,580.
43,915,000. 43,959,553.
42,796,108. 43,126,038.
1,118,892.
833,515.
91,794,540. 110,472,035.
26,168,097. 34,986,406.
66,944,490. 75,485,629.
47,306,972. 50,204,991.

289,662,151.
152,526,583.
137,135,568.
254,714,071.
34,948,080.
13,133,656.
13,133,656.
18,864,195.
8,845,256.
4,886,538.
993,950.
86,189.
-

318,620,537.
176,835,067.
141,785,470.
281,932,787.
36,687,750.
16,426,107.
16,426,107.
24,362,278.
8,246,877.
15,391,119.
1,502,624.
625,933.
-

379,656,783.
192,387,413.
187,269,370.
327,159,251.
207,236,211.
118,325,859.
52,497,532.
24,859,270.
11,109,236.
13,750,035.
27,738,605.
34,180,706.
31,390,078.
-1038772
2,516,494.
1,190,866.
176,401.
19,607,143.

432,589,999.
197,466,932.
235,123,067.
361,166,822.
231,231,364.
128,338,276.
71,423,178.
24,062,433.
12,541,393.
11,521,040.
31,376,377.
29,788,043.
27,142,493.
23,908,587.
3,872,388.
3,461,452.
887,931.
26,817,684.

608,805,683.
255,513,785.
353,291,898.
530,483,914.
392,179,325.
138,304,590.
78,321,769.
27,938,946.
15,486,777.
12,452,169.
45,251,257.
35,013,714.
31,973,309.
24,722,737.
6,039,999.
4,436,897.
92,323.
14,167,148.

211,070,374. 210,610,533. 270,137,875. 284,227,189. 310,851,674.

10,540,777.
4,626,163. 88,698,349. 73,366,524. 78,838,993.
-4746131
2,964,768. -8646866
16,574,746. 14,245,841.
105,636,057. 133,865,584. 248,149,835. 228,931,861. 250,953,878.
.44
6.51
10.66
.75
1.1
87.93

.47
7.65
11.86
.77
1.12
88.49

.28
9.
13.51
.78
.88
86.17

.3
6.89
12.72
.87
.91
83.49

.33
5.75
11.24
1.09
.96
87.14

1.69
2.45
6.69
4.42
3.98
4.23
-

2.
2.06
5.85
3.91
-4.75
3.49
-

3.05
0.0
1.23
44.77

2.59
0.0
-2.08
40.2

2.17
-.23
-.71
-.43
-2.99
3.9
.97
-.27
.06
-.92
39.64

1.72
4.86
14.22
8.63
5.79
4.62
1.88
5.53
.09
4.68
42.76

1.72
4.69
12.76
8.31
4.21
5.41
1.77
4.06
.04
4.33
47.4

Taha Spinning Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
203,578.
328,689.
203,578.
11,761.
0.0

211,612.
2,876.
166,709.
23,145.
408.
18,474.
161,940.
144,533.
17,407.
91,304.

0.0
91,304.
161,946.
40,500.
40,500.
0.0
121,446.

478,150.
292,821.
185,329.
426,765.

51,385.
7,400.
7,400.
27,911.
16,074.
2,780.
0.0
0.0

253,250.
0.0
13,294.
144,533.
.16
5.84
4.84
1.15
1.31
89.25

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.56
4.06
10.33
6.48
2.87
3.36
0.0
3.28
39.99
145

Financial Statement Analysis of Non Financial Sector

2007
206,052.
336,080.
206,052.
15,460.
0.0
207,190.
3,152.
119,324.
39,156.
0.0
45,558.
301,543.
142,546.
158,997.
0.0
0.0
0.0
111,699.
40,500.
40,500.
0.0
71,199.
-

(Thousand Rupees)
2008
2009
2010
2011
186,619.
188,981.
187,550.
120,859.
0.0
0.0
0.0
339,356.
339,356.
339,356.
199,195.
186,619.
183,457.
182,026.
115,335.
16,065.
3,884.
1,432.
1,432.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
5,524.
5,524.
5,524.
260,871.
85,260.
70,273.
44,774.
5,939.
3,184.
2,341.
1,889.
27,844.
22,006.
12,784.
0.0
29,343.
29,253.
30,476.
19,324.
0.0
0.0
0.0
0.0
197,745.
30,817.
24,672.
23,561.
252,382.
144,271.
144,353.
95,333.
152,401.
105,345.
101,133.
65,389.
99,981.
38,927.
43,220.
29,944.
116,569.
79,411.
77,843.
74,312.
49,521.
48,118.
29,997.
21,489.
21,181.
35,771.
0.0
0.0
0.0
0.0
1,873.
1,873.
1,873.
116,569.
6,529.
6,671.
6,671.
78,539.
50,559.
35,627. -4012
40,500.
40,500.
40,500.
40,500.
40,500.
40,500.
40,500.
40,500.
0.0
0.0
0.0
0.0
-32407
-72047
38,039. -17357
0.0
0.0
0.0
-17357
-32407
-72047
27,416.
27,535.
27,535.

416,304.
323,005.
93,299.
390,143.
-

231,255.
228,834.
2,421.
230,521.
-

26,161.
9,922.
-

734.
4,985.
-

9,922.
-

2011

4,985.
-

33,120.
27,473.
-16881
-31724
2,081.
1,156.
0.0
0.0
0.0
0.0
-

2,954.
11,222.
3,618.
2,954.
11,222.
3,618.
0.0
0.0
0.0
13,395.
14,425.
12,784.
4,838.
0.0
0.0
8,557.
14,425.
12,784.
-10441
-3203
-9166
1,730.
2,760.
28,131.
0.0
0.0
0.0
1,730.
2,760.
28,131.
2,069.
3,373.
2,564.
18,945.
8,770.
2,542.
18,941.
8,769.
2,527.
-31116
-14733
-39604
0.0
56.
36.
0.0
0.0
0.0
0.0
0.0
0.0
157,573.
5,131. -27868

111,699.
195,108.
129,970.
113,470.
70,300.
0.0
0.0
49,521.
48,118.
29,997.
-18962
-32880
-31116
-14789
-39640
142,546.
152,401.
154,866.
149,251.
95,386.
.14
7.96
9.41
1.01
.69
93.72

.14
11.88
12.69
.52
1.03
99.68

.22
641.33
990.29
.01
.59
453.45

.23
78.15
271.57
.04
.49
128.54

.22
70.26
534.11
.02
.47
353.34

2.7
-4.08
-12.34
-9.25
-

4.7
-7.37
-33.35
-20.68
-

3.49
-

6.24
-5.54
-34.19
-12.1

.13
-.64
-1,053.34
.7
-7.68
12.48

.88
-.68
-131.29
.02
-3.65
8.8

8.31

-4.05
0.0
-4.68
27.58

4.42
-8.62
-48.2
-19.14

-13.72
0.0
-8.12
19.39

-42.28
-18.71
-250.54
-43.1
-

-14.67
-1,094.64
-.16
-9.79
-.99

Tata Textile Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,495,267.
1,826,995.
1,495,267.
165,230.

1,060,508.
14,445.
755,345.
133,145.
1,401.
156,172.
1,202,802.
969,306.
233,496.
746,889.

746,889.
606,084.
173,248.
173,248.
432,836.

2,123,987.
526,394.
1,597,593.
1,753,966.

370,021.
123,244.
123,244.
179,994.
67,334.
26,966.
17,325.

1,352,973.
23,043.
969,306.
.12
8.47
6.27
.83
.88
82.58

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.22
2.7
11.36
4.8
2.33
2.81
3.17
0.0
2.33
34.98
146

Financial Statement Analysis of Non Financial Sector

2007
1,405,254.
1,829,834.
1,405,254.
108,002.
0.0
0.0
1,203,294.
132,989.
775,946.
117,798.
0.0
176,561.
1,108,923.
795,652.
313,271.
897,781.
0.0
0.0
897,781.
601,844.
173,247.
173,247.
0.0
0.0
428,597.
-

(Thousand Rupees)
2008
2009
2010
2011
2,318,568.
2,330,993.
2,222,732.
2,292,039.
2,639.
2,415.
94,859.
2,433,224.
2,554,558.
2,565,698.
2,651,235.
2,318,568.
2,327,780.
2,219,711.
2,196,530.
102,450.
118,940.
118,830.
113,681.
0.0
0.0
0.0
0.0
0.0
574.
606.
650.
1,823,650.
1,452,118.
1,416,780.
2,707,393.
55,623.
41,044.
53,470.
67,196.
1,421,759.
1,159,838.
1,019,574.
2,116,356.
200,297.
142,257.
190,017.
295,594.
0.0
0.0
0.0
145,971.
108,979.
153,719.
228,247.
1,855,499.
1,957,621.
1,590,614.
2,726,725.
1,580,324.
1,424,688.
1,306,248.
2,300,127.
275,175.
532,933.
284,366.
426,598.
839,839.
608,495.
326,811.
290,465.
467,995.
277,315.
262,266.
25,000.
25,000.
0.0
0.0
0.0
18,580.
22,793.
26,454.
839,839.
96,920.
1,703.
1,745.
1,446,880.
1,216,995.
1,722,087.
1,982,242.
173,247.
173,248.
173,248.
173,248.
173,247.
173,248.
173,248.
173,248.
0.0
0.0
0.0
1,273,633.
117,405.
604,190.
911,195.
0.0
0.0
117,405.
604,190.
911,195.
926,342.
944,650.
897,799.

2,381,985.
524,878.
1,857,107.
1,949,294.
-

2,415,390.
398,836.
2,016,554.
1,990,563.

2,272,707.
262,266.
251,492.
2,562,393.

.15
6.99
5.02
1.04
.89
74.96

.13
3.51
5.69
1.04
.99
85.18

208,958.
-

0.0

2,048,898.
277,315.
366,555.
1,583,563.

189,670.
-

81,560.
32,219.
0.0
0.0

0.0

2,286,719.
1,825,489.
0.0
467,995.
8,568. -240585
1,580,324.
1,892,682.

193,053.

3,783,989.
634,153.
3,149,836.
2,836,376.
2,080,074.
756,303.
947,612.
240,673.
146,125.
94,548.
212,206.
264,402.
246,162.
457,293.
47,426.
43,312.

424,827.
189,670.

164,540.
-

2,804,593.
527,339.
2,277,254.
2,367,017.
1,707,201.
659,816.
437,576.
335,027.
127,151.
207,876.
163,541.
326,381.
297,962.
-217729
22,856.
0.0
0.0
563,269.

432,691.
164,540.

27,677.
19,109.
0.0
0.0
-

1,499,625.
0.0
49,341.
795,652.
.23
8.1
4.95
.91
1.09
81.83

2011

.14
8.65
8.29
.58
.98
82.41

.09
11.64
5.07
.74
.74
84.4

5,198,073.
238,930.
4,959,143.
4,427,677.
4,146,417.
281,260.
770,396.
261,354.
171,249.
90,106.
224,668.
182,375.
154,863.
366,052.
62,585.
51,974.
0.0
333,001. -718431

0.0
0.0

0.0

0.0
0.0

0.0
0.0

0.0

3.33
3.16
13.5
5.72
-

1.86
.82
2.7
1.46
-

3.07
-

1.7

3.42
0.0
2.85
34.74

2.11
-5.49
-16.35
-10.59

1.15
0.0
.49
83.52

2.42
.27
-7.76
.22
-13.89
70.25

1.11
12.32
31.12
23.61
9.46
3.71
2.86
12.08
.17
23.66
99.4

1.52
8.47
19.76
16.94
5.84
2.46
3.36
7.04
-.24
17.52
114.42

The Crescent Textile Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,152,277.
3,787,863.
2,152,277.
214,417.

4,979,480.
40,570.
962,695.
1,002,954.
1,153,175.
1,820,086.
3,046,814.
2,647,407.
399,407.
1,623,124.

399,940.
1,223,184.
2,461,819.
406,693.
406,693.
2,055,126.

5,097,609.
1,950,285.
3,147,324.
4,573,333.

524,276.
356,473.
356,473.
356,960.
-17020
41,613.
40,669.

4,084,943.
399,940.
-58633
3,047,347.
.72
7.
19.67
.71
1.63
89.72

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.9
-.24
-.66
-.42
5.3
-.33
0.0
-1.44
60.53
147

Financial Statement Analysis of Non Financial Sector

2007
4,447,419.
6,224,791.
4,447,419.
261,564.
0.0
0.0
5,803,640.
7,365.
978,266.
1,258,121.
1,120,161.
2,439,727.
4,668,085.
3,070,846.
1,597,239.
953,333.
0.0
953,333.
4,629,641.
447,362.
447,362.
0.0
0.0
4,182,279.
-

(Thousand Rupees)
2008
2009
2010
2011
4,226,157.
6,730,262.
6,785,795.
6,789,537.
2,260.
32,809.
36,906.
6,350,733.
6,509,169.
6,526,246.
6,734,609.
4,226,157.
4,180,127.
3,948,372.
3,998,049.
297,566.
275,864.
262,252.
253,273.
0.0
0.0
0.0
713,218.
873,067.
2,706,984.
1,834,657.
1,931,547.
47,598.
6,919,501.
4,085,672.
4,202,903.
5,826,884.
8,572.
18,931.
16,419.
18,531.
1,240,654.
940,421.
1,047,150.
1,658,003.
2,106,306.
2,562,348.
2,579,901.
3,391,911.
1,121,116.
65,253.
49,706.
37,444.
2,442,853.
498,719.
509,727.
720,995.
5,805,699.
5,805,685.
6,010,688.
7,896,441.
4,984,404.
5,240,052.
5,291,686.
6,162,091.
821,295.
565,633.
719,002.
1,734,350.
1,287,373.
1,108,019.
665,164.
566,707.
1,108,019.
656,351.
566,707.
0.0
0.0
299,955.
0.0
0.0
0.0
0.0
987,418.
0.0
8,813.
4,052,586.
3,902,230.
4,312,846.
4,153,273.
492,099.
492,099.
492,099.
492,099.
492,099.
492,099.
492,099.
492,099.
0.0
0.0
0.0
3,560,487.
1,769,738.
2,180,340.
2,020,786.
21,131.
75,789.
103,912.
1,748,607.
2,104,551.
1,916,874.
1,640,393.
1,640,407.
1,640,388.

5,591,586.
1,998,056.
3,593,530.
5,062,315.
-

613,172.
-42764
59,405.
0.0
44,737.
-

10,750,512.
2,764,363.
7,986,149.
9,175,267.
2,944,356.
6,230,911.
1,575,245.
937,519.
392,885.
544,634.
674,277.
815,948.
714,293.
238,518.
73,361.
0.0
0.0
162,421.

10,863,386. 14,759,257.
3,308,340.
3,641,337.
7,555,046. 11,117,920.
9,406,644. 13,394,641.
3,218,034.
5,062,784.
6,188,610.
8,331,857.
1,456,742.
1,364,616.
789,303.
884,955.
470,413.
641,183.
318,890.
243,772.
745,263.
746,482.
536,270.
527,172.
529,391.
518,496.
463,491. -19180
90,890.
151,068.
73,815.
0.0
453,363. -600545

5,582,974.
5,339,959.
0.0
299,955.
68,318. -102169
3,070,846.
5,284,359.

5,010,249.
1,108,019.
165,157.
6,348,071.

4,978,010.
4,719,980.
656,351.
566,707.
298,786. -170248
5,948,037.
6,728,798.

8,844,621.
2,301,623.
6,542,998.
7,876,552.
-

529,271.
445,352.
-

968,069.
667,354.
-

445,352.
-

667,354.
-

464,397.
117,109.
48,791.
0.0
0.0

0.0

2011

.51
8.31
22.5
.55
1.24
90.53

.56
6.93
23.81
.79
1.19
89.05

.46
7.59
23.83
.99
.7
85.35

.44
4.94
23.75
.99
.7
86.59

.44
3.57
22.98
1.17
.74
90.75

0.0

0.0
0.0
0.0
0.0

0.0

0.0
0.0

1.21
1.35
3.3
2.42
-

1.75
-.4
-.99
-.78
-

5.72
-

7.13

2.09
0.0
1.53
103.49

1.77
2.17
6.
4.61

-.48
0.0
-2.08
82.35

11.43
1.33
2.22
.02
3.36
79.3

1.55
4.25
11.28
9.28
5.05
10.37
1.88
4.27
.07
7.57
87.64

2.04
-.16
-.45
-.4
8.9
.96
-.13
-.07
-3.46
84.4

Towellers Ltd.
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
987,445.
1,187,292.
987,445.
37,727.
0.0

1,346,069.
91,850.
597,505.
367,384.
0.0
289,330.
1,526,092.
1,048,864.
477,228.
133,000.

0.0
133,000.
674,422.
170,000.
170,000.
0.0
504,422.

2,246,544.
91,821.
2,154,723.
1,921,001.

325,543.
276,416.
276,416.
41,132.
30,358.
20,401.
0.0
0.0

807,422.
0.0
9,957.
1,048,864.
.3
1.83
16.35
.96
.88
85.51

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.46
1.36
4.36
3.43
3.76
1.35
0.0
.59
39.67
148

Financial Statement Analysis of Non Financial Sector

2007
1,526,635.
174,856.
1,526,635.
92,740.
0.0
1,706,276.
69,206.
867,898.
435,045.
0.0
334,127.
1,948,568.
1,119,721.
828,847.
305,250.
0.0
305,250.
979,093.
170,000.
170,000.
0.0
809,093.
-

(Thousand Rupees)
2008
2009
2010
2011
1,536,338.
1,580,878.
1,478,253.
1,357,747.
44,866.
117.
0.0
1,938,482.
1,892,139.
1,970,960.
1,971,923.
1,536,338.
1,515,015.
1,456,302.
1,335,987.
139,068.
140,363.
138,429.
131,396.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
20,997.
21,834.
21,760.
1,988,495.
2,070,924.
2,340,945.
1,491,842.
44,397.
50,692.
88,068.
141,876.
1,089,454.
1,065,316.
1,301,378.
681,364.
636,141.
715,102.
658,700.
415,623.
0.0
0.0
0.0
0.0
218,503.
239,814.
292,799.
252,979.
2,129,878.
2,215,502.
2,493,193.
2,022,325.
1,373,662.
1,585,538.
1,613,104.
1,325,099.
756,216.
629,964.
880,088.
697,226.
393,901.
295,594.
213,140.
91,476.
267,439.
186,556.
80,994.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
28,155.
26,584.
10,482.
393,901.
0.0
0.0
0.0
1,001,054.
1,140,706.
1,112,865.
735,788.
170,000.
170,000.
170,000.
170,000.
170,000.
170,000.
170,000.
170,000.
0.0
0.0
0.0
0.0
831,054.
495,240.
490,381.
133,677.
495,240.
490,381.
133,677.
0.0
0.0
0.0
475,466.
452,484.
432,111.

2,358,316.
27,820.
2,330,496.
1,926,931.
-

3,626,558.
64,185.
3,562,373.
3,084,518.
-

431,385.
286,413.
-

542,040.
309,579.
-

286,413.
-

309,579.
-

108,424.

176,224.
-

38,717.
22,676.
0.0
0.0
-

2011

58,254.
33,457.
0.0
0.0
-

1,284,343.
0.0
16,041.
1,119,721.

1,394,955.
0.0
24,797.
1,373,662.

.26
4.6
18.45
.73
.88
81.71

.32
4.86
17.54
1.03
.93
85.05

3,419,616.
837.
3,418,779.
2,700,003.
779,835.
1,920,168.
719,613.
399,666.
163,322.
236,343.
251,778.
257,189.
202,584.
65,080.
33,882.
8,500.
0.0
23,336.

4,003,561.
3,506,880.
33,912.
130,160.
3,969,649.
3,376,720.
3,373,145.
3,263,467.
734,462.
1,037,906.
2,638,683.
2,225,561.
630,416.
243,413.
347,291.
334,195.
167,623.
128,295.
179,667.
205,900.
273,650.
217,115.
269,789.
249,880.
189,312.
193,968.
14,170. -336323
40,892.
40,754.
0.0
0.0
0.0
0.0
124,782.
533,430.

1,436,300.
1,326,004.
827,264.
267,439.
186,556.
80,994.
-377077
22,698. -26722
1,852,977.
1,799,660.
1,406,093.
.35
7.52
20.91
.94
.93
78.96

.3
6.74
16.45
1.05
.94
84.25

.28
7.13
11.85
1.23
.74
93.06

2.3
1.39
4.68
3.7
-

2.52
1.72
5.88
4.35
-

2.72
-

3.33
-

1.64
0.0
.94
57.59

1.61
0.0
1.46
58.89

2.2
1.81
6.08
4.6
3.67 3.21
1.32
1.9
.01
1.84
67.1

2.43
.38
1.26
1.03

2.87
-10.09
-36.39
-31.24

3.08
1.07
.35
.05
-1.57
65.46

5.15
-.73
-9.59
.25
-22.18
43.28

Yousaf Weaving Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
637,866.
1,005,316.
637,866.
49,764.

318,862.
50,788.
113,734.
64,539.
89,801.
644,479.
144,698.
499,781.
143,233.

143,233.
169,016.
400,000.
400,000.
-230984

1,179,178.
951,307.
227,871.
1,054,374.

124,804.
64,194.
64,194.
22,617.
39,506.
5,874.
64,194.

312,249.
-30562
144,698.
.18
1.92
5.47
1.23
.49
89.42

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.66
4.71
80.77
26.98
.52
10.37
3.35
0.0
.84
4.23
149

2011

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

2007
749,125.
1,177,085.
746,863.
78,172.
2,262.
431,941.
117,151.
147,329.
47,245.
0.0
120,216.
831,104.
133,772.
697,332.
169,886.
0.0
169,886.
180,076.
400,000.
400,000.
0.0
-219924
-

(Thousand Rupees)
2008
2009
2010
839,057.
807,152.
907,682.
1,935.
1,305,303.
1,322,443.
1,471,725.
836,464.
786,871.
877,878.
61,632.
60,569.
63,579.
2,593.
2,075.
1,924.
0.0
16,271.
27,880.
469,666.
460,378.
525,221.
3,843.
6,546.
6,973.
177,849.
196,644.
211,533.
129,107.
93,836.
148,655.
0.0
0.0
158,867.
163,352.
158,061.
937,066.
579,388.
677,536.
276,529.
293,804.
341,318.
660,537.
285,584.
336,218.
202,043.
514,982.
575,273.
208,250.
227,124.
285,715.
285,653.
0.0
0.0
21,017.
24,052.
202,043.
0.0
38,444.
169,614.
173,160.
180,094.
400,000.
400,000.
400,000.
400,000.
400,000.
400,000.
0.0
0.0
-230386
-226840
-219906
0.0
-226840
-219906
0.0

1,573,738.
784,565.
789,173.
1,442,389.
-

1,972,796.
946,793.
1,026,003.
1,797,166.
-

131,349.
83,206.
-

175,630.
112,204.
-

83,206.
-

112,204.
-

40,570.
7,573.
9,828.
0.0
0.0

0.0
-

0.0

63,122.
706.
10,175.
0.0
0.0
-

349,962.
371,657.
0.0
0.0
-2255
-9469
133,772.
276,529.
.2
2.58
3.
1.33
.52
91.65

.14
3.2
6.54
1.51
.5
91.1

2011
975,902.
0.0
13,835.
1,515,566.
855,807.
67,890.
1,698.
0.0
104,562.
794,695.
6,310.
265,096.
249,071.
0.0
274,218.
1,025,898.
468,362.
557,536.
504,069.
153,750.
263,215.
0.0
29,380.
57,724.
240,630.
400,000.
400,000.
0.0
-159370
0.0
-159370
0.0

2,098,980.
955,425.
1,143,555.
1,884,558.
1,441,981.
442,577.
214,422.
129,516.
75,787.
53,729.
134,262.
77,110.
64,618.
14,898.
11,351.
0.0
0.0
107,280.

2,627,387.
1,225,122.
1,402,265.
2,392,701.
1,838,042.
554,659.
234,686.
125,906.
78,665.
47,241.
154,079.
83,927.
71,337.
27,898.
13,831.

3,829,251.
1,400,051.
2,429,199.
3,464,240.
2,900,209.
564,031.
365,011.
165,080.
91,634.
73,445.
208,457.
104,365.
89,372.
119,413.
38,293.

21,669.

31,446.

688,142.
208,250.
3,547.
502,054.

755,367.
227,124.
14,067.
568,442.

744,699.
153,750.
81,121.
622,112.

.17
3.67
4.47
1.66
.79
89.78

.23
3.19
5.66
1.83
.78
91.07

.25
2.73
6.5
2.16
.77
90.47

0.0
0.0

5.56
.71
4.34
2.29
-

6.72
.06
.4
.2
-

10.68
-

6.96
2.07
15.8
3.87

10.67
1.23
.71
.1
.09
4.33

12.42
1.39
1.06
.02
.35
4.5

11.09

.48
0.0
-.06
4.5

6.32
1.16
8.69
2.81

.04
0.0
-.24
4.24

6.36
7.46
56.77
15.92
14.44
2.34
3.12
.02
2.03
6.02

0.0

0.0

0.0

0.0
0.0
0.0

0.0
0.0

Zahidjee Textile Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
332,812.
561,757.
332,812.
33,438.
0.0

305,899.
11,015.
59,805.
34,829.
169,273.
30,977.
245,050.
167,957.
77,093.
49,286.

0.0
49,286.
344,375.
110,093.
110,093.
0.0
234,282.

605,451.
603,033.
2,418.
567,564.

37,887.
15,242.
15,242.
30,832.
4,294.
102.
8,257.
0.0

393,661.
0.0
-4065
167,957.
.88
5.09
5.75
.95
1.25
93.74

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.85
.7
1.37
1.14
.51
10.12
.71
0.0
.38
31.28
150

2011

Financial Statement Analysis of Non Financial Sector

2007
1,302,832.
1,492,985.
1,302,832.
102,098.
0.0
1,218,975.
141,545.
578,325.
280,801.
80,000.
138,304.
1,422,494.
1,310,378.
112,116.
138,093.
0.0
138,093.
961,220.
110,093.
110,093.
0.0
851,127.
-

(Thousand Rupees)
2008
2009
2010
1,268,947.
1,293,312.
1,128,278.
68,437.
31,086.
1,635,016.
1,687,070.
1,178,239.
1,268,947.
1,108,133.
1,073,510.
104,939.
107,263.
102,088.
0.0
0.0
113,460.
20,400.
3,282.
3,282.
1,737,007.
1,426,672.
1,370,026.
9,244.
7,539.
7,774.
695,585.
718,190.
625,260.
348,418.
308,116.
442,341.
141,595.
149,181.
87,232.
542,165.
243,645.
207,421.
1,866,389.
1,741,750.
1,500,751.
1,402,933.
1,558,467.
1,282,535.
463,456.
183,283.
218,216.
320,836.
379,845.
320,024.
175,000.
155,000.
180,422.
145,655.
0.0
0.0
15,952.
19,370.
320,836.
8,472.
818,729.
598,389.
677,529.
340,509.
340,509.
340,509.
340,509.
340,509.
340,509.
0.0
0.0
478,220.
190,227.
266,784.
158,709.
177,742.
31,518.
89,042.
67,652.
70,236.

2,772,551.
1,834,156.
938,395.
2,543,132.
-

46,117.
1,119,234.
340,509.
340,509.

0.0
723,033.
283,195.
439,838.
55,691.

1,099,313.
1,139,565.
978,234.
0.0
0.0
175,000.
-116195
137,270. -50787
1,310,378.
1,402,933.
1,733,467.

997,553.
155,000.
65,353.
1,437,535.

1,225,351.
30,000.
347,699.
831,166.

.36
7.54
13.99
1.27
.91
83.59

.37
4.4
8.15
2.04
1.14
82.93

86,060.
154,173.
148,906.
11,636.
0.0
0.0

0.0

495,661.

166,421.
86,060.

128,002.
-

0.0

319,864.

3,282.
1,538,835.
14,499.
649,063.
427,353.
51,128.
396,792.
1,347,127.
801,166.
545,961.
106,117.
30,000.
30,000.

3,162,511.
1,983,425.
1,179,086.
2,643,389.
1,933,612.
709,777.
519,122.
156,856.
42,444.
114,412.
168,044.
238,581.
221,443.
71,482.
6,129.

229,419.
128,002.
-

0.0

2,109,300.
1,176,411.
932,889.
1,845,784.
1,251,351.
594,433.
263,516.
102,999.
36,925.
66,074.
131,573.
275,303.
247,524.
-116195
0.0
0.0
0.0
76,657.

1,960,473.
1,119,223.
841,250.
1,794,052.

2011
1,033,643.
36,435.
1,767,952.
993,926.
99,569.

.35
5.56
10.13
1.1
.86
91.73

191,322.
-40990
9,797.
0.0
0.0
-

.27
9.76
17.77
.65
.93
91.51

.27
13.05
14.61
.78
.82
87.51

0.0
0.0

5,241,845.
2,989,496.
2,252,349.
4,347,162.
3,860,960.
486,202.
894,683.
249,921.
69,012.
180,909.
213,628.
230,627.
225,467.
437,172.
55,422.
34,051.

1.62
9.42
22.81
19.95
-

2.67
-1.48
-4.61
-3.66
-

4.79
-

2.69
2.74
11.2
7.24

2.94
.53
-5.51
.04
-3.41
17.57

5.06
1.32
2.26
.18
1.92
19.9

2.82

5.37
0.0
12.47
87.31

3.55
-4.06
-16.4
-10.97

-2.09
0.0
-1.49
24.04

1.3
17.24
48.66
39.33
11.21
8.08
2.94
8.34
.34
11.21
32.87

0.0
0.0

0.0
0.0

0.0

0.0

Zephyr Textiles Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,622,115.
1,732,009.
1,622,115.
74,062.
0.0

942,517.
35,543.
391,529.
215,701.
31,895.
267,849.
1,158,062.
954,202.
203,860.
755,933.

0.0
755,933.
650,637.
594,287.
594,287.
0.0
56,350.

1,564,084.
605,461.
958,623.
1,348,172.

215,912.
53,931.
53,931.
108,872.
55,367.
9,333.
0.0
0.0

1,406,570.
0.0
46,034.
954,202.
.24
6.96
13.79
.61
.81
86.2

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.94
2.58
9.64
4.67
3.99
3.54
0.0
.77
10.95
151

Financial Statement Analysis of Non Financial Sector

2007
1,752,408.
1,966,883.
1,752,408.
143,022.
0.0
1,308,206.
59,827.
587,888.
378,085.
0.0
282,406.
1,686,007.
1,211,699.
474,308.
721,330.
0.0
721,330.
653,277.
594,287.
594,287.
0.0
58,990.
-

(Thousand Rupees)
2008
2009
2010
2011
2,275,204.
2,135,991.
1,975,871.
1,900,176.
2,178.
1,150.
79,329.
1,977,279.
2,357,476.
2,382,076.
2,382,059.
2,275,204.
2,127,462.
1,971,655.
1,817,843.
368,668.
195,838.
182,295.
564,216.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
6,351.
3,066.
3,004.
1,271,366.
1,192,196.
1,344,057.
1,294,551.
2,464.
28,924.
7,969.
21,744.
672,845.
608,402.
627,299.
670,970.
313,228.
283,583.
317,273.
299,836.
14,175.
5,388.
2,949.
59,321.
268,654.
265,899.
388,567.
242,679.
2,064,963.
1,837,373.
2,136,492.
2,139,020.
1,586,967.
1,419,793.
1,621,191.
1,669,826.
477,996.
417,580.
515,301.
469,194.
683,069.
843,273.
599,049.
393,379.
694,155.
459,893.
262,255.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
16,915.
19,962.
21,663.
683,069.
132,203.
119,195.
109,461.
798,538.
647,541.
584,387.
662,328.
594,287.
594,287.
594,287.
594,287.
594,287.
594,287.
594,287.
594,287.
0.0
0.0
0.0
0.0
-302633
-192134
204,251. -263638
0.0
0.0
0.0
-263638
-302633
-192134
316,891.
292,733.
260,174.

2,712,659.
1,451,909.
1,260,750.
2,435,600.
-

2,601,772.
2,663,771.
1,672,809.
1,711,420.
928,963.
952,352.
2,327,132.
2,415,837.
1,562,719.
1,746,610.
764,413.
669,228.
274,640.
247,934.
114,395.
90,482.
74,594.
55,921.
39,802.
34,561.
138,412.
129,121.
353,589.
280,054.
309,174.
263,678.
-155991
-59378
9,290.
17,239.
0.0
0.0
0.0
0.0
229,777.
104,775.

3,573,505.
2,484,845.
1,088,660.
3,149,998.
2,645,551.
504,447.
423,507.
105,324.
63,269.
42,055.
147,805.
217,027.
204,560.
114,831.
36,933.
59,429.
0.0
313,252.

1,374,607.
1,481,607.
1,490,813.
1,183,436.
0.0
0.0
694,155.
459,893.
-165281
-76618
2,641. -202944
1,211,699.
1,586,967.
2,113,948.
2,081,084.

1,055,707.
262,255.
18,469.
1,932,081.

2,634,595.
1,830,030.
804,565.
2,393,328.
-

277,059.
83,590.
-

241,267.
100,476.
-

83,590.
-

100,476.
-

197,880.
16,204.
13,563.
0.0
0.0
-

2011

.26
7.29
13.94
.89
.78
89.79

346,093.
-189783
13,161.
0.0
0.0
-

.16
13.14
11.89
.74
.62
90.84

.17
13.59
10.9
.78
.65
89.44

.15
10.51
11.91
.8
.63
90.69

.18
6.07
8.39
1.12
.61
88.15

3.69
.58
2.49
1.17
-

3.44
-5.74
-26.14
-13.29
-

4.61
-

4.68
-1.79
-9.64
-4.44

4.28
.5
-6.
.09
-2.78
10.9

4.25
.77
-2.23
.04
-1.29
9.83

3.92

.6
0.0
.04
10.99

4.14
-4.54
-21.57
-10.5

-7.2
0.0
-3.41
13.44

3.82
3.53
18.42
10.26
-

1.31
5.33
1.56
3.21
.12
1.31
11.14

MADE-UP TEXTILE ARTICLES

Made-up textile articles - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
7,304,339.
11,369,913.
7,192,582.
613,485.
111,757.

9,969,270.
209,975.
5,341,671.
3,193,609.
485,143.
738,872.
10,232,591.
7,099,823.
3,132,768.
2,737,894.

0.0
2,737,894.
4,303,124.
1,101,202.
1,101,202.
0.0
3,201,922.

14,151,757.
5,378,168.
8,773,589.
12,083,473.

2,068,284.
1,001,497.
1,001,497.
847,723.
266,527.
115,307.
45,220.
38,332.

7,041,018.
0.0
106,000.
7,099,823.
.38
5.99
22.57
.82
.97
85.38

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.01
1.58
6.33
3.78
3.34
2.65
1.88
0.0
1.37
39.08
154

Financial Statement Analysis of Non Financial Sector

2007
7,918,347.
13,073,524.
7,884,034.
668,922.
34,313.
10,586,846.
180,222.
4,427,778.
4,120,389.
60,621.
1,797,836.
10,079,177.
5,882,726.
4,196,451.
2,948,290.
0.0
2,948,290.
5,477,726.
1,193,201.
1,193,201.
0.0
4,284,525.
-

(Thousand Rupees)
2008
2009
2010
2011
9,098,056. 12,053,141. 25,113,254. 27,895,466.
4,344,248. 17,418,442.
602,685.
14,617,269. 13,472,856. 14,181,865. 34,957,813.
9,065,963.
7,600,018.
7,596,733. 27,178,286.
772,960.
980,389.
1,061,865.
1,271,677.
32,093.
38,842.
26,570.
48,242.
10,333.
8,702.
8,636.
59,700.
62,808.
57,617.
12,115,645. 11,253,695. 12,148,813. 27,246,804.
234,102.
1,010,614.
741,391.
265,563.
5,225,008.
4,913,137.
6,463,503. 14,068,920.
4,628,500.
3,511,685.
3,405,488. 10,717,526.
61,464.
500.
0.0
0.0
1,966,571.
1,817,759.
1,538,432.
2,194,795.
11,540,776. 10,861,255. 13,082,413. 25,593,333.
7,339,162.
7,795,877.
8,889,657. 19,252,448.
4,201,614.
3,065,378.
4,192,756.
6,340,885.
3,778,802.
6,273,126. 14,987,339. 17,333,154.
5,971,296. 14,598,330. 16,836,259.
50,267.
49,827.
43,827.
0.0
0.0
0.0
0.0
85,840.
109,963.
133,458.
3,778,802.
165,722.
229,218.
319,610.
5,894,123.
6,172,455.
9,192,316. 12,215,783.
1,193,201.
993,999.
996,249.
1,001,101.
1,193,201.
993,999.
996,249.
1,001,101.
0.0
0.0
0.0
0.0
4,700,922.
5,178,456.
8,196,067. 11,214,682.
1,179,452.
3,393,773.
4,782,248.
3,999,004.
4,802,294.
6,432,434.
0.0
0.0
0.0

16,760,610.
5,686,549.
11,074,061.
14,274,778.
-

18,881,618.
6,248,088.
12,633,530.
15,987,532.
-

2,485,832.
1,115,747.
-

2,894,086.
1,279,025.
-

1,115,747.
-

1,279,025.
-

792,369.

1,075,617.
-

869,847.
143,938.
45,220.
0.0
-

2011

891,043.
134,795.
33,915.
132,337.
-

19,998,744. 26,075,925. 45,780,769.

7,335,659. 10,735,066. 21,971,375.
12,663,084. 15,340,859. 23,809,394.
16,531,141. 21,844,866. 37,462,269.
8,333,870. 11,610,847. 25,872,710.
8,197,271. 10,234,020. 11,589,559.
3,467,603.
4,231,059.
8,318,500.
1,659,984.
2,072,322.
2,641,917.
759,625.
946,327.
1,318,791.
900,359.
1,125,995.
1,323,126.
2,368,182.
2,727,317.
1,227,253.
1,227,781.
1,199,358.
2,964,198.
1,108,870.
1,054,822.
2,787,205.
823,515.
1,221,843.
2,883,987.
151,964.
251,665.
358,828.
125,608.
147,178.
669,428.
0.0
0.0
0.0
-3827179
2,366,475. -757067

8,426,016.
0.0
680,689.
5,882,726.

9,672,925.
0.0
722,333.
7,339,162.

12,445,581.
5,971,296.
545,943.
13,767,173.

24,179,655.
14,598,330.
822,999.
23,487,987.

29,548,937.
16,836,259.
1,855,731.
36,088,707.

.43
4.73
24.58
.91
1.05
85.17

.43
5.7
24.51
.89
1.05
84.67

.42
6.14
17.56
.86
1.04
82.66

.32
4.6
13.06
.7
.93
83.77

.43
6.47
23.41
.83
1.06
81.83

2.38
4.86
17.79
11.25
16.05
3.79
-

2.6
4.49
15.67
9.85
22.3
3.61
-

5.19
0.0
6.08
45.91

4.72
0.0
6.34
49.4

2.78
3.7
13.65
7.45
5.35
4.07
1.74
4.12
.14
6.76
62.1

3.05
4.03
15.9
6.67
6.59
4.03
2.16
4.69
-.03
9.74
92.27

3.51
6.24
26.94
10.74
3.77
3.25
2.03
6.3
-.09
25.22
122.02

Growth with Composition of Assets & L

30
55.4%
25
20
15
Billion Rs
10
5
10.%
0
Non-Current Current AssetsCurrent Liabilities
Assets
2010

Growth & Composition of Operations

50
40

Billion Rs

30
20

43.%

10
0
Sales

Gross Profit

Profitability/Efficiency Ratios
30

26.94

25

2010

20
2011

15.9
15
Percentage 10
5

10.74
4.03 6.24

6.67

0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

6,000.%
5,000.%
4,000.%
3,000.%
24.8%
2,000.%

48.9%

13.5%
1,000.%
0.0%

Current Liabilities

Non-Current
Liabilities

Shareholders
Equity

2011

Growth

of Operations
2010

2011

Growth
7,000.%
57.6% 6,000.%
5,000.%
4,000.%
3,000.%

49.1%

2,000.%
1,000.%
0.0%
Net Profit Before Tax

Key Performance Indicators

30

2010
25.22

25
2011
20
15
10

9.74
Percentage
4.69 6.3

3.05 3.51
0.93 1.06

0
Current
Ratio

155

Debt
Equity
Ratio

Net

Earning

Profit
Margin

Per Share
after Tax

Aruj Garment Accessories Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
84,689.
151,131.
84,689.
7,306.
0.0

75,176.
3,328.
44,786.
3,056.
0.0
24,006.
73,627.
16,494.
57,133.
4,443.

0.0
4,443.
81,795.
61,517.
61,517.
0.0
20,278.

193,603.
171,639.
21,964.
166,810.

26,793.
7,522.
7,522.
1,947.
17,336.
3,356.
0.0
0.0

86,238.
0.0
13,980.
16,494.
.09
1.01
1.58
1.21
1.02
86.16

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.95
11.85
22.08
21.2
4.32
8.95
0.0
2.27
13.3
156

Financial Statement Analysis of Non Financial Sector

2007
88,710.
-

161,910.
88,710.
8,177.
0.0

101,111.
6,680.
65,593.
4,655.
0.0
24,183.
92,762.
31,093.
61,669.
5,869.

0.0
5,869.
91,190.
61,517.
61,517.
0.0
29,673.
-

(Thousand Rupees)
2008
2009
2010
2011
119,907.
114,559.
120,375.
120,375.
0.0
13,421.
13,421.
201,845.
200,264.
203,015.
203,015.
119,907.
112,879.
105,274.
105,274.
8,738.
11,237.
10,356.
10,356.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1,680.
1,680.
1,680.
93,163.
118,111.
128,616.
128,616.
6,276.
14,261.
28,273.
28,273.
61,701.
66,796.
43,485.
43,485.
1,246.
4,060.
14,043.
14,043.
0.0
0.0
0.0
0.0
23,940.
32,994.
42,815.
42,815.
90,099.
91,187.
112,062.
112,062.
35,845.
39,477.
60,727.
60,727.
54,254.
51,710.
51,336.
51,336.
31,108.
55,888.
57,072.
57,072.
14,482.
8,542.
8,542.
26,511.
32,071.
32,071.
0.0
0.0
0.0
0.0
1,571.
2,117.
2,117.
31,108.
13,324.
14,341.
14,341.
91,863.
85,595.
79,857.
79,857.
61,517.
61,517.
61,517.
61,517.
61,517.
61,517.
61,517.
61,517.
0.0
0.0
0.0
0.0
30,346.
24,078.
18,340.
18,340.
0.0
0.0
0.0
24,078.
18,340.
18,340.
0.0
0.0
0.0

231,206.
205,933.
25,273.
202,267.
-

263,444.
56,326.
207,118.
235,960.

345,439.
225,433.
120,007.
314,183.
250,498.
63,685.
31,257.
13,999.
3,707.
10,292.
7,680.
10,696.
10,228.
6,834.
2,328.
0.0
0.0
18,399.

122,971.
141,483.
0.0
14,482.
10,873. -1423
35,845.
53,959.

136,928.
8,542.
4,507.
69,269.

136,928.
8,542.
4,507.
69,269.

.38
3.1
4.07
1.39
1.15
90.95

.38
3.1
4.07
1.39
1.15
90.95

8,438.
4,714.

6,856.
-

16,389.
4,101.
0.0
0.0
-

345,439.
225,433.
120,007.
314,183.
250,498.
63,685.
31,257.
13,999.
3,707.
10,292.
7,680.
10,696.
10,228.
6,834.
2,328.
0.0
0.0
18,399.

27,484.
8,438.

8,571.
-

298,972.
220,239.
78,733.
268,018.
201,355.
66,663.
30,954.
12,036.
1,911.
10,125.
7,766.
12,376.
11,485.
8,592.
788.
9,228.
0.0
12,979.

28,939.
8,571.

12,190.
1,317.
0.0
0.0
-

97,059.
0.0
12,288.
31,093.
.12
2.04
2.01
1.22
1.09
87.48

2011

.08
2.6
.47
1.24
1.03
89.57

.2
4.14
1.36
1.28
1.3
89.65

1.08
9.37
18.95
17.88
-

1.32
6.05
13.32
11.08
-

3.52
-

4.27
-

7.09
0.0
2.
14.82

4.63
0.0
1.77
14.93

1.72
3.86
9.68
6.5
.85 4.48
1.75
2.87
.09
1.27
13.91

2.12
2.84
8.26
4.91

2.12
2.74
8.56
4.99

7.94
1.67
1.98
.11
.73
12.98

7.94
1.67
1.98
.11
.73
12.98

Fateh Sports Wear Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
26,498.
94,074.
26,498.
2,143.
0.0

244,665.
19.
18,018.
174,877.
0.0
51,751.
312,189.
111,719.
200,470.
0.0

0.0
0.0
-41026
20,000.
20,000.
0.0
-61026

0.0
0.0
0.0
0.0

0.0
5,289.
5,289.
13,226.
-16846
0.0
0.0
0.0

-41026
0.0
-16846
111,719.
.56

0.0
.78

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-7.61
-6.17
51.67
51.67
0.0

0.0
-8.42
-20.51
157

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
24,577.

22,856.
-

94,074.
24,577.
1,920.
0.0
-

2009

34,074.
22,856.
1,721.
0.0
-

239,437.
17.
14,765.
175,737.
0.0
48,918.
328,982.
100,331.
228,651.
0.0

256,380.
11.
5,994.
203,438.
0.0
46,937.
341,716.
89,331.
252,385.
0.0

0.0
-64968
20,000.
20,000.
0.0
-84968
-

0.0
-62480
20,000.
20,000.
0.0
-82480
-

0.0
0.0
0.0
0.0

0.0
0.0
0.0
0.0

0.0

0.0

0.0
12,915.
-

8,310.
-

12,915.
-

16,519.
-23942
0.0
0.0
0.0
-64968

.53
-

-39037

-69555
-88503
0.0
0.0
0.0
-18948
23,444. -30518
89,331.
89,331.
89,331.

.6
-

0.0
.73
-

2,488.
0.0
0.0
0.0

0.0
2,488.
89,331.

-23942
100,331.

12,299.

-62480
0.0

0.0
0.0
8,032.
0.0
0.0
8,032.
0.0
0.0
0.0
0.0
0.0
7,075.
0.0
0.0
4,673.
0.0
0.0
2,403.
0.0
0.0
957.
4,012.
27,426.
2,983.
0.0
0.0
610.
4,012.
27,426.
2,373.
0.0
0.0
10.
18,359.
18,364.
18,458.
18,359.
18,364.
0.0
-18887
23,444. -30518
0.0
0.0
61.
0.0
0.0
0.0
0.0
0.0
0.0
23,443. -30518
1,243.

0.0
8,310.

21,312.
0.0
94,074.
21,312.
1,544.
0.0
0.0
0.0
300,129.
10.
5,994.
249,253.
0.0
44,873.
360,478.
89,331.
271,147.
0.0
0.0
0.0
0.0
0.0
0.0
-39037
20,000.
20,000.
0.0
-59037
53,500.
-112537
0.0

.69
-

0.0
.75
-

(Thousand Rupees)
2010
2011
19,926.
18,683.
0.0
0.0
94,074.
94,074.
19,926.
18,683.
1,386.
1,244.
0.0
0.0
0.0
0.0
0.0
0.0
289,906.
290,774.
26.
1,269.
6,222.
5,994.
264,524.
266,122.
0.0
0.0
19,133.
17,388.
379,387.
397,960.
89,331.
89,331.
290,056.
308,628.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-69555
-88503
20,000.
20,000.
20,000.
20,000.
0.0
0.0
-89555
-108503
53,500.
0.0
-143055
-108503
0.0
0.0

.7
-

0.0
.83
-

0.0
.76
-

.67
229.81
3,313.28
.03
.73
88.09

-5.06
-8.95
45.18
45.18
-

-5.47
.92
-3.9
-3.9
-

0.0
-

0.0

0.0
-11.97
-32.48

-9.23
7.81
-46.19
-46.19
0.0
2.28
-

0.0
1.24
-31.24

-5.45
-9.67
56.21
56.21
0.0
-.66 -

.07
11.72
-19.52

-.08
-15.26
-34.78

-4.5
-6.1
23.9
23.9
1.34
-235.14
0.0
-9.47
-44.25

Gul Ahmed Textile Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
4,449,195.
6,590,642.
4,410,230.
379,332.
38,965.

5,568,754.
39,922.
2,887,167.
1,839,545.
484,643.
317,477.
5,481,391.
4,660,284.
821,107.
2,151,331.

0.0
2,151,331.
2,385,227.
459,989.
459,989.
0.0
1,925,238.

8,245,862.
3,617,337.
4,628,525.
7,081,209.

1,164,653.
623,472.
623,472.
536,302.
12,381.
47,000.
0.0
38,332.

4,536,558.
0.0
-34619
4,660,284.
.43
6.5
22.31
.82
1.02
85.88

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.2
.12
.52
.28
2.86
.15
0.0
-.75
51.85
158

Financial Statement Analysis of Non Financial Sector

2007
4,733,261.
7,929,859.
4,702,826.
412,276.
30,435.
5,350,979.
27,845.
2,254,144.
2,164,671.
58,450.
845,869.
5,653,042.
4,010,209.
1,642,833.
1,772,007.
0.0
1,772,007.
2,659,191.
551,987.
551,987.
0.0
2,107,204.
-

(Thousand Rupees)
2008
2009
2010
2011
5,855,836.
6,177,455.
6,204,139.
6,741,132.
35,608.
51,332.
71,643.
9,200,478. 10,473,377. 11,113,486. 12,255,966.
5,827,621.
6,077,026.
6,097,376.
6,589,869.
514,617.
639,458.
681,282.
711,737.
28,215.
33,525.
21,253.
42,322.
0.0
0.0
0.0
31,296.
34,178.
37,298.
6,541,866.
7,630,720.
8,582,802. 13,929,967.
69,034.
162,626.
157,188.
86,638.
2,915,550.
3,940,944.
4,991,811. 10,430,214.
2,490,258.
2,672,797.
2,465,556.
2,236,402.
58,450.
0.0
0.0
0.0
1,008,574.
854,353.
968,247.
1,176,713.
7,151,112.
7,852,081.
8,636,966. 13,315,707.
5,214,385.
5,927,482.
6,501,422. 10,450,399.
1,936,727.
1,924,599.
2,135,544.
2,865,308.
2,484,561.
2,717,822.
2,439,947.
2,509,060.
2,566,604.
2,222,650.
2,198,591.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
11,945.
15,016.
17,717.
2,484,561.
139,273.
202,281.
292,752.
2,762,029.
3,238,272.
3,710,028.
4,846,332.
551,987.
634,785.
634,785.
634,785.
551,987.
634,785.
634,785.
634,785.
0.0
0.0
0.0
0.0
2,210,042.
2,603,487.
3,075,243.
4,211,547.
490,820.
494,491.
503,524.
2,112,667.
2,580,752.
3,708,023.
0.0
0.0
0.0

9,871,996.
4,091,601.
5,780,395.
8,446,095.
-

11,751,955.
4,852,168.
6,899,787.
10,052,884.
-

1,425,901.
693,742.
-

1,699,071.
781,553.
-

693,742.
-

781,553.
-

476,245.

732,477.
-

262,191.
67,352.
0.0
0.0
-

2011

201,838.
66,000.
0.0
132,337.
-

14,207,448.
5,919,363.
8,288,085.
11,685,262.
4,696,489.
6,988,773.
2,522,186.
1,306,429.
621,312.
685,117.
1,982,288.
1,035,224.
963,252.
204,278.
83,787.
0.0
0.0
442,468.

19,885,337. 25,643,176.
9,116,748.
8,399,365.
10,768,589. 17,243,811.
16,582,414. 20,892,101.
7,297,486. 10,733,599.
9,284,928. 10,158,502.
3,302,923.
4,751,075.
1,662,168.
2,131,863.
800,060.
1,103,962.
862,108.
1,027,901.
2,293,895.
713,705.
959,259.
1,093,713.
870,737.
1,017,295.
707,921.
1,551,046.
182,027.
267,652.
79,348.
634,785.
0.0
0.0
479,484. -2670397

4,431,198.
0.0
194,839.
4,010,209.

5,246,590.
0.0
135,838.
5,214,385.

5,956,094.
2,566,604.
120,491.
8,494,086.

6,149,975.
2,222,650.
446,546.
8,724,072.

7,355,392.
2,198,591.
648,609.
12,648,990.

.4
4.82
21.93
.98
.95
85.56

.37
6.23
21.19
.95
.91
85.54

.36
7.29
18.81
1.03
.97
82.25

.3
4.82
12.4
1.34
.99
83.39

.17
4.27
8.72
1.24
1.05
81.47

2.79
2.61
10.4
5.85
-

3.49
1.8
7.45
4.17
-

4.38
-

4.03

2.66
0.0
3.53
48.17

3.26
1.56
6.81
3.65

1.72
0.0
2.46
50.04

3.61
1.21
1.44
.04
1.9
51.01

2.99
4.95
20.38
11.7
6.63
3.98
1.81
3.56
.04
8.28
58.45

3.27
8.75
36.25
22.97
2.02
2.46
2.52
6.05
-.17
20.22
76.35

International Knitwear Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
17,448.
47,478.
17,448.
3,808.
0.0

51,735.
551.
12,896.
29,662.
0.0
8,626.
53,823.
7,700.
46,123.
0.0

0.0
0.0
15,360.
30,000.
30,000.
0.0
-14640

85,918.
51,123.
34,795.
78,732.

7,186.
4,367.
4,367.
1,046.
2,087.
600.
0.0
0.0

15,360.
0.0
1,487.
7,700.
.56
1.22
34.52
1.24
.96
91.64

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.5
3.3
13.84
13.84
6.66
2.43
0.0
.5
5.12
159

Financial Statement Analysis of Non Financial Sector

2007

2008
17,083.

14,365.

53,862.
17,083.
4,411.
0.0
-

55,217.
14,365.
4,073.
0.0
-

72,121.
1,406.
14,133.
46,324.
0.0
10,258.
67,516.
8,447.
59,069.
0.0
-

87,718.
15,951.
10,430.
49,868.
0.0
11,469.
66,277.
5,500.
60,777.
210.
-

0.0

0.0
-

0.0
21,688.
30,000.
30,000.
0.0
-

-8312
-

210.
35,596.
30,000.
30,000.
0.0
5,596.
-

145,388.
77,743.
67,645.
130,803.
-

180,260.
96,344.
83,916.
154,243.
-

14,585.
4,299.
-

26,017.
7,052.
-

4,299.
-

7,052.
-

2,425.

3,482.
-

7,727.
1,400.
0.0
0.0
-

21,589.
0.0
63,068.
19,981.
4,294.
0.0
0.0
1,608.
66,615.
3,776.
7,530.
45,884.
0.0
9,425.
41,498.
0.0
41,498.
0.0
0.0
0.0
0.0
0.0
0.0
46,706.
30,000.
30,000.
0.0
16,706.
0.0
16,706.
0.0

(Thousand Rupees)
2010
2011
32,867.
32,990.
0.0
5,463.
71,249.
67,277.
31,173.
25,564.
4,890.
3,510.
0.0
0.0
86.
355.
1,608.
1,608.
105,185.
74,368.
219.
3,081.
12,726.
6,048.
74,038.
46,023.
0.0
0.0
18,202.
19,216.
82,768.
63,507.
10,750.
4,340.
72,018.
59,167.
0.0
1,667.
0.0
1,667.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
55,284.
42,184.
32,250.
32,250.
32,250.
32,250.
0.0
0.0
23,034.
9,934.
-6
5.
23,040.
9,929.
0.0
0.0

158,532.
86,831.
71,701.
137,103.
61,726.
75,378.
21,428.
7,378.
0.0
7,378.
15,171.
4,873.
394.
12,008.
1,700.
2,250.
0.0
-19279

144,087.
134,540.
94,565.
82,457.
49,522.
52,083.
128,590.
132,923.
60,323.
56,282.
68,267.
76,641.
15,497.
1,617.
7,757.
8,923.
0.0
0.0
7,757.
8,923.
16,375.
18,883.
1,585.
3,487.
618.
1,613.
6,771. -10255
911.
920.
0.0
0.0
0.0
0.0
1,415.
10,819.
55,284.
43,851.
0.0
1,667.
5,860. -11175
10,750.
6,007.

2009

16,264.
1,800.
0.0
0.0
-

2011

21,688.
0.0
6,327.
8,447.

35,806.
0.0
14,464.
5,500.

46,706.
0.0
8,058.
0.0

.71
1.67
31.86
1.63
1.07
89.97

.99
1.93
27.66
1.77
1.32
85.57

1.2
3.07
28.94
1.8
1.61
86.48

.9
1.1
51.38
1.04
1.27
89.24

.77
2.59
34.21
1.25
1.17
98.8

3.11
9.76
41.71
41.71
-

1.87
17.
56.78
56.58
-

10.29
-

17.28
-

5.31
0.0
2.11
7.23

9.02
0.0
4.82
11.87

.89
12.62
29.18
29.11
4.58 21.05
31.48
7.57
-.46
3.44
15.57

1.5
5.99
13.28
13.28

1.54
-8.36
-21.04
-20.69

11.32
11.96
4.7
.02
1.82
17.14

22.25
-5.36
-7.62
.17
-3.47
13.08

Liberty Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,280,838.
2,131,375.
1,280,838.
94,607.
0.0

1,433,220.
158,258.
558,275.
547,195.
500.
168,992.
1,719,470.
788,349.
931,121.
146,576.

0.0
146,576.
848,012.
226,101.
226,101.
0.0
621,911.

3,783,773.
1,128,406.
2,655,367.
3,265,291.

518,482.
208,134.
208,134.
68,707.
243,108.
46,144.
45,220.
0.0

994,588.
0.0
151,744.
788,349.
.41
1.82
14.46
1.39
.83
86.3

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.2
9.41
28.58
23.06
4.36
6.78
6.43
0.0
8.71
37.51
160

Financial Statement Analysis of Non Financial Sector

2007
1,269,866.
2,009,584.
1,269,866.
108,136.
0.0
1,708,580.
139,232.
596,348.
701,321.
2,171.
269,508.
1,679,845.
776,462.
903,383.
122,433.
0.0
122,433.
1,176,168.
226,101.
226,101.
0.0
950,067.
-

(Thousand Rupees)
2008
2009
2010
2011
1,300,242.
5,610,999. 18,642,315. 20,894,731.
4,308,640. 17,353,689.
512,158.
2,301,420.
2,409,997.
2,519,947. 22,157,373.
1,300,242.
1,264,568.
1,252,326. 20,354,226.
109,809.
123,956.
123,517.
538,829.
0.0
5,317.
5,317.
5,920.
8,518.
6,801.
6,466.
23,957.
24,182.
15,960.
2,021,900.
2,977,435.
2,925,102. 12,687,646.
137,788.
829,520.
554,971.
146,165.
748,538.
783,221.
1,325,688.
3,471,763.
856,009.
494,723.
558,762.
8,136,055.
3,014.
500.
0.0
0.0
276,551.
869,471.
485,681.
933,663.
1,634,542.
2,463,164.
3,836,227. 11,636,861.
1,037,917.
1,723,087.
2,211,927.
8,632,652.
596,625.
740,077.
1,624,300.
3,004,209.
214,942.
3,499,416. 12,490,320. 14,765,355.
3,390,211. 12,367,138. 14,627,458.
23,756.
17,756.
11,756.
0.0
0.0
0.0
0.0
72,324.
92,830.
113,624.
214,942.
13,125.
12,596.
12,516.
1,472,658.
2,625,854.
5,240,870.
7,180,161.
226,101.
226,101.
226,101.
230,953.
226,101.
226,101.
226,101.
230,953.
0.0
0.0
0.0
0.0
1,246,557.
2,399,753.
5,014,769.
6,949,208.
634,733.
2,845,389.
4,278,320.
1,765,020.
2,169,380.
2,670,888.
0.0
0.0
0.0

4,428,188.
1,014,534.
3,413,654.
3,790,324.
-

4,602,127.
946,512.
3,655,615.
3,839,156.
-

637,864.
254,185.
-

762,971.
322,427.
-

254,185.
-

322,427.
-

66,855.

94,892.
-

328,606.
52,230.
45,220.
0.0
-

2011

379,387.
46,823.
33,915.
0.0
-

5,228,453.
5,612,473. 19,496,336.
1,003,887.
1,209,732. 13,105,567.
4,224,566.
4,402,741.
6,390,769.
4,326,031.
4,710,925. 15,967,131.
3,287,202.
3,950,946. 14,714,271.
1,038,829.
759,979.
1,252,860.
902,422.
901,548.
3,529,204.
311,086.
345,433.
461,669.
131,271.
137,013.
201,336.
179,815.
208,420.
260,332.
338,684.
384,847.
449,848.
154,943.
206,083.
1,835,040.
113,479.
152,086.
1,755,626.
605,496.
569,589.
1,373,825.
65,689.
65,921.
86,328.
113,051.
67,830.
34,643.
0.0
0.0
0.0
-1187092
1,876,560. -1187092

1,298,601.
0.0
231,156.
776,462.

1,687,600.
0.0
298,649.
1,037,917.

6,125,270.
3,390,211.
426,756.
5,113,298.

17,731,190.
12,367,138.
435,838.
14,579,065.

21,945,517.
14,627,458.
1,252,855.
23,260,110.

.5
1.51
15.84
1.49
1.02
85.6

.61
2.06
18.6
1.39
1.24
83.42

.54
2.96
9.46
.61
1.21
82.74

.29
3.67
9.96
.26
.76
83.94

.71
9.41
41.73
.58
1.09
81.9

1.53
11.55
32.47
28.66
6.11
7.43
-

1.26
12.04
28.65
25.41
9.81
6.15
-

7.42
0.0
12.22
52.02

8.24
0.0
14.71
65.13

2.27
10.17
29.55
15.5
4.77
6.68
6.34
11.58
.31
23.87
116.14

3.12
3.78
14.48
4.78
7.43
4.23
4.75
10.15
-.07
22.28
231.79

3.68
4.98
22.12
6.93
37.16
5.62
1.78
7.05
-.04
55.75
310.89

Moonlite (Pak) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
101,706.
237,167.
101,706.
8,066.
0.0

211,956.
660.
152,871.
47,703.
0.0
10,722.
184,646.
121,422.
63,224.
75,324.

0.0
75,324.
53,692.
21,595.
21,595.
0.0
32,097.

249,539.
176,764.
72,775.
221,340.

28,199.
31,956.
31,956.
16,393.
-21064
2,509.
0.0
0.0

129,016.
0.0
-23573
121,422.
.26
6.57
19.12
.8
1.15
88.7

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.84
-6.3
-30.49
-13.32
1.63
-8.44
0.0
-10.92
24.86
161

Financial Statement Analysis of Non Financial Sector

2007

2008
82,878.

82,878.
-

158,094.
82,878.
5,207.
0.0
-

158,094.
82,878.
5,207.
0.0
-

203,609.
2,943.
126,763.
58,311.
0.0
15,592.
21,074.
0.0
21,074.
0.0
-

203,609.
2,943.
126,763.
58,311.
0.0
15,592.
21,074.
0.0
21,074.
0.0
-

0.0

0.0
-

0.0
265,413.
21,596.
21,596.
0.0
243,817.
-

0.0
265,413.
21,596.
21,596.
0.0
243,817.
-

156,674.
141,830.
14,844.
152,198.
-

156,674.
141,830.
14,844.
152,198.
-

4,476.
23,218.
-

4,476.
23,218.
-

23,218.
-

23,218.
-

4,681.

4,681.
-

211,358.
901.
0.0
0.0
-

211,358.
901.
0.0
0.0
-

265,413.
0.0
210,457.
0.0
2.91
2.99
37.22
.55
9.66
97.14

2011

(Thousand Rupees)
2009
2010
2011
107,227.
93,632.
87,555.
0.0
0.0
0.0
232,076.
180,094.
180,107.
104,253.
90,658.
84,670.
199,900.
240,434.
6,001.
0.0
0.0
0.0
1,815.
1,815.
1,815.
1,159.
1,159.
1,070.
160,685.
117,202.
135,433.
421.
714.
137.
108,652.
83,571.
111,416.
44,968.
28,565.
18,881.
0.0
0.0
0.0
6,644.
4,353.
4,999.
52,847.
35,002.
67,236.
16,499.
15,500.
14,999.
36,348.
19,503.
52,237.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
215,065.
175,832.
155,752.
21,596.
21,596.
21,596.
21,596.
21,596.
21,596.
0.0
0.0
0.0
193,470.
154,236.
134,156.
399.
399.
399.
193,071.
153,837.
133,757.
0.0
0.0
0.0
105,340.
88,589.
153,246.
105,340.
88,589.
150,522.
0.0
0.0
2,724.
114,726.
108,755.
148,855.
87,098.
51,594.
113,387.
27,629.
57,161.
35,468.
-9387
-20166
4,391.
19,044.
15,540.
22,481.
5,131.
5,547.
9,176.
13,913.
9,993.
13,305.
24,272.
24,519.
37,127.
2,007.
3,371.
2,804.
1,901.
2,788.
2,443.
-30303
-38755
-18577
0.0
479.
1,539.
1,080.
0.0
0.0
0.0
0.0
0.0
-151
30,303. -38755

265,413.
215,065.
175,832.
155,752.
0.0
0.0
0.0
0.0
-39233
-20116
210,457. -31383
0.0
16,499.
15,500.
14,999.
2.91
2.99
37.22
.55
9.66
97.14

.86
1.91
42.69
.39
3.04
108.91

.84
3.81
32.24
.42
3.35
122.76

.28
1.83
12.32
.69
2.01
97.13

.08
70.44
132.47
107.17
-

.08
73.78
79.63
79.63
-

1.24
-

1.24
-

134.9
0.0
97.45
122.9

134.9
0.0
97.45
122.9

.25
-10.93
-12.61
-12.61
-28.06 .97
-14.94
-28.77
.57
-14.03
99.59

.2
-16.19
-19.83
-19.83

.43
-8.56
-11.2
-11.2

1.06
-12.9
-43.75
-1.11
-18.17
81.42

1.38
-6.6
-12.12
0.0
-9.31
72.12

OTHER TEXTILES N.E.S.

ES N.E.S.

Other textiles n.e.s. - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
27,526,012.
50,752,008.
27,527,839.
2,239,397.
-1827

30,772,854.
1,031,809.
13,524,180.
2,736,849.
8,318,477.
5,161,539.
27,533,321.
11,292,363.
16,240,958.
9,181,639.

46,382.
9,135,257.
21,583,906.
9,053,823.
9,053,823.
12,530,083.

46,584,599.
40,751,260.
5,833,339.
42,394,649.

4,189,950.
1,583,054.
1,583,054.
2,021,626.
2,024,142.
434,204.
168,739.

30,765,545.
46,382.
1,421,199.
11,338,745.
.44
4.34
5.88
.8
1.12
91.01

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.7
3.6
10.18
6.76
9.42
3.44
4.35
0.0
1.76
23.84
164

Financial Statement Analysis of Non Financial Sector

2007
26,291,327.
50,618,280.
26,273,362.
2,510,961.
17,965.
32,697,481.
984,849.
13,759,363.
3,083,246.
9,452,133.
5,417,890.
29,109,160.
9,929,149.
19,180,011.
8,068,323.
6,382.
8,061,941.
21,811,325.
9,065,606.
9,065,606.
0.0
0.0
12,745,719.
-

(Thousand Rupees)
2008
2009
2010
2011
25,867,545. 38,798,682. 28,944,135. 30,891,873.
311,133.
338,587.
1,930,385.
52,242,519. 52,696,899. 30,473,069. 32,053,045.
25,852,987. 24,143,617. 13,897,151. 14,797,504.
2,748,837.
2,420,196.
2,880,330.
2,864,252.
14,558.
8,226.
8,928.
11,093.
13,794,891. 14,567,403. 14,045,878.
540,815.
132,067.
107,012.
36,557,848. 19,935,869. 15,905,257. 19,795,167.
744,652.
905,262.
503,611.
623,694.
15,244,882. 10,743,823.
9,727,215. 11,773,509.
3,530,134.
3,593,603.
1,128,393.
1,071,542.
9,638,699.
44,386.
128,074.
1,706.
7,399,481.
4,648,794.
4,417,963.
6,324,716.
34,589,384. 30,878,248. 14,050,819. 17,097,399.
13,047,907. 15,437,782.
4,251,562.
7,628,260.
21,541,477. 15,440,466.
9,799,257.
9,469,139.
9,793,188. 12,461,675.
8,358,480.
6,942,402.
7,561,662.
4,455,011.
2,628,163.
1,005,727.
1,013,987.
966,585.
0.0
0.0
0.0
603,295.
619,500.
772,461.
9,793,188.
3,290,990.
2,269,983.
2,575,193.
18,042,821. 15,394,627. 22,440,097. 26,647,238.
9,068,275.
8,655,225.
4,992,015.
4,906,726.
9,068,275.
8,655,225.
4,992,015.
4,906,726.
0.0
0.0
0.0
8,974,546.
2,166,646. 15,237,051. 19,344,595.
1,911,758.
1,908,604.
2,041,029.
198,647. 13,272,204. 17,303,565.
4,572,756.
2,211,032.
2,395,918.

43,707,855.
37,693,770.
6,014,085.
41,300,346.
-

44,148,699.
34,903,279.
9,245,421.
43,873,825.
32,732,744.
11,139,139.
274,874.
2,131,836.
781,521.
1,350,316.
2,512,552.
3,980,587.
3,124,369.
-4129847
301,741.
213,508.
0.0
3,918,838.

47,781,394.
36,997,790.
10,783,603.
42,918,821.
35,360,335.
7,556,543.
4,862,573.
2,104,114.
613,972.
1,490,141.
2,192,798.
1,806,614.
1,525,687.
4,304,953.
743,140.
773,609.
19,157.
66,523.

59,785,016.
49,346,988.
10,438,028.
54,035,318.
46,419,336.
7,615,982.
5,749,698.
2,025,754.
542,450.
1,483,304.
2,592,002.
1,476,354.
1,273,555.
5,922,895.
921,760.
1,269,003.

29,879,648. 27,836,009. 27,856,302.

6,382.
0.0
7,561,662.
-4645096
174,980. -3326330
9,935,531. 13,047,907. 22,999,444.

30,798,577.
4,455,011.
2,788,204.
8,706,573.

33,589,639.
2,628,163.
3,732,132.
10,256,423.

.13
3.78
2.36
1.07
1.13
89.82

.1
2.47
1.79
1.18
1.16
90.38

46,284,830.
39,564,506.
6,720,324.
45,534,000.
-

2,407,509.
1,423,030.
-

750,830.
1,913,982.
-

1,423,030.
-

568,053.
305,932.
87,141.
0.0

0.0

1,913,982.
-

2,487,469.

2011

.46
5.69
7.05
.74
1.12
94.49

3,233,623.
-2749048
465,922.
111,360.
880,250.
-

.4
6.99
7.63
.74
1.06
98.38

.15
9.02
8.14
.75
.65
99.38

0.0

0.0

0.0
3,898,939.

1.7
.97
2.62
1.87
3.01
3.18
-

2.46
-4.53
-13.8
-9.53
-28.87
3.04
-

1.3
0.0
.44
36.59

-5.94
0.0
-3.55
19.9

2.82
-6.82
-24.7
-14.83
-20.76
4.11
-.32
-9.35
.09
-5.12
17.79

1.
8.31
22.76
14.68
4.6
4.91
3.82
9.01
0.0
7.14
44.95

.9
12.4
24.13
18.4
3.94
5.08
5.65
9.91
.16
10.19
54.31

Growth with Composition of Assets & L

35
30
25
20
Billion Rs

19.7%
6.3%

15
10
5
0
Non-Current Assets
Current AssetsCurrent Liabilities
2010

Growth & Composition of Operations

2010

2011

70
60
50
20.1%
40
Billion Rs

30
20
10
0
Sales

Gross Profit

Profitability/Efficiency Ratios
25

22.76

24.13 2010

20
15
Percentage 10
5

18.4 2011
12.4
8.31

14.68

0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

17.8%

15.8% 15%

-20.4%

Current Liabilities

Non-Current
Liabilities

2011

2,500.%
2,000.%
1,000.%
500.%
0.0%
-500.%
-1,000.%
-1,500.%
-2,000.%
-2,500.%

Shareholders Equity
Growth

omposition of Operations
Growth
3,000.%
27.3%
2,500.%
2,000.%
1,500.%

15.4%

1,000.%
500.%
0.0%
Net Profit Before Tax

Key Performance Indicators

12
2010

9.91

10

9.01
2011

8
6
Percentage 4
2

7.14

1.13 1.16

1.00 0.90

Current

Debt

Net

Earning

Ratio

Equity
Ratio

Profit
Margin

Per Share
after Tax

165

10.19

Al-Abid Silk Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,147,810.
3,120,758.
2,146,161.
172,407.
1,649.

3,247,847.
26,399.
2,827,763.
94,529.
299,156.
3,707,064.
2,217,947.
1,489,117.
583,828.

583,828.
1,104,765.
74,250.
74,250.
1,030,515.

4,454,839.
257,552.
4,197,287.
3,732,945.

721,894.
344,393.
344,393.
280,072.
105,397.
45,541.
5,539.

1,688,593.
54,317.
2,217,947.
.03
6.29
2.12
.83
.88
83.8

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.88
1.99
9.72
5.84
10.81
1.58
2.37
0.0
8.06
148.79
166

Financial Statement Analysis of Non Financial Sector

2007
2,110,162.
3,245,188.
2,110,162.
181,840.
0.0
3,637,827.
42,564.
3,151,303.
107,616.
0.0
0.0
336,344.
4,225,738.
2,286,779.
1,938,959.
236,302.
0.0
0.0
236,302.
1,285,949.
95,783.
95,783.
0.0
0.0
1,190,166.
-

(Thousand Rupees)
2008
2009
2010
2011
2,299,777.
2,222,746.
2,201,162.
2,055,093.
0.0
35,898.
3,532,872.
3,716,460.
3,824,884.
3,876,469.
2,299,777.
2,220,860.
2,163,317.
2,053,147.
174,177.
177,399.
1,661,566.
1,823,323.
0.0
0.0
0.0
0.0
0.0
1,887.
1,947.
1,947.
4,756,547.
5,509,273.
6,546,327.
7,041,020.
10,770.
36,469.
63,687.
37,465.
4,313,862.
4,964,104.
5,761,915.
6,104,611.
113,021.
148,791.
305,548.
313,196.
0.0
0.0
0.0
318,894.
359,909.
415,178.
585,747.
5,254,674.
5,939,040.
6,880,562.
7,136,673.
2,360,511.
2,752,649.
2,951,933.
3,416,810.
2,894,163.
3,186,391.
3,928,629.
3,719,863.
319,889.
273,600.
256,102.
176,753.
133,772.
107,259.
69,597.
98,861.
98,861.
50,000.
0.0
0.0
0.0
40,966.
49,981.
57,156.
319,889.
0.0
0.0
1,481,761.
1,519,379.
1,610,825.
1,782,687.
95,782.
95,783.
95,783.
134,096.
95,782.
95,783.
95,783.
134,096.
0.0
0.0
0.0
1,385,979.
868,872.
960,318.
1,133,892.
257,895.
257,895.
372,834.
610,977.
702,423.
761,058.
554,724.
554,724.
514,699.

4,584,993.
152,849.
4,432,144.
3,987,632.
-

5,495,613.
84,139.
5,411,474.
4,813,612.
-

597,361.
230,093.
-

682,001.
279,396.
-

230,093.
-

279,396.
-

284,850.

0.0

310,252.
-

82,418.
46,605.
0.0
0.0

0.0

2011

95,056.
56,086.
7,184.
0.0
-

9,100,994.
64,820.
9,036,174.
7,789,027.
6,534,933.
1,254,094.
1,311,967.
739,516.
525,750.
213,765.
304,459.
436,777.
201,370.
136,549.
91,747.
7,184.
0.0
347,756.

10,826,885.
151,007.
10,675,879.
9,506,908.
8,766,831.
740,077.
1,319,977.
661,464.
397,500.
263,964.
450,033.
453,691.
189,518.
209,021.
110,391.
0.0
19,157.
308,795.

10,481,909.
255,320.
10,226,589.
9,141,740.
7,542,874.
1,598,866.
1,340,169.
613,705.
320,342.
293,364.
509,024.
548,449.
364,329.
184,814.
107,022.

0.0

0.0
0.0

0.0

0.0
0.0

0.0

0.0
0.0
3,752.

1,522,251.
0.0
35,813.
2,286,779.

1,801,650.
0.0
31,786.
2,360,511.

1,792,979.
133,772.
37,618.
2,886,421.

1,866,927.
107,259.
98,630.
3,059,192.

1,959,440.
69,597.
77,791.
3,486,407.

.04
6.21
2.35
.8
.86
86.97

.02
5.65
2.06
.78
.91
87.59

.03
4.8
1.63
1.18
.93
85.58

.05
4.19
2.82
1.24
.95
87.81

.05
5.23
2.99
1.15
.99
87.21

3.47
1.48
6.89
5.13

3.76
1.48
6.87
5.72
5.42
1.27

1.45
-

1.8
0.0
3.74
134.26

1.73
0.0
4.07
154.7

4.09
1.85
9.1
7.6
6.24 1.83
1.68
1.5
.06
4.68
158.63

4.43
2.54
13.36
11.42

4.1
2.07
10.89
9.66

1.88
2.1
1.93
.04
10.3
168.18

1.72
1.51
1.76
0.0
5.8
132.94

Bannu Woollen Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
420,630.
599,926.
420,630.
22,432.
0.0

198,491.
554.
95,312.
29,892.
29,444.
43,289.
117,856.
7,355.
110,501.
1,488.

0.0
1,488.
499,777.
50,700.
50,700.
0.0
449,077.

288,932.
288,932.
0.0
213,718.

75,214.
28,843.
28,843.
5,691.
38,193.
16,508.
0.0
0.0

501,265.
0.0
21,685.
7,355.
.51
1.97
10.35
.47
1.68
73.97

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.24
5.98
7.56
7.55
3.03
13.22
0.0
4.28
98.58
167

Financial Statement Analysis of Non Financial Sector

2007
428,309.
623,724.
428,309.
23,031.
0.0
240,672.
7,106.
109,624.
35,431.
30,370.
58,141.
73,353.
22,776.
50,577.
67,788.
0.0
67,788.
527,840.
50,700.
50,700.
0.0
477,140.
-

(Thousand Rupees)
2008
2009
2010
2011
419,174.
500,529.
559,793.
960,393.
33,180.
2,294.
1,740.
629,651.
665,478.
700,005.
1,011,072.
419,174.
440,875.
461,878.
803,062.
212,742.
13,445.
15,244.
15,572.
0.0
0.0
0.0
0.0
3,380.
92,812.
152,782.
23,094.
2,809.
2,809.
294,325.
301,386.
354,769.
449,985.
557.
765.
1,974.
1,399.
139,999.
202,272.
265,674.
323,893.
50,788.
50,106.
40,981.
56,386.
31,495.
0.0
0.0
0.0
71,486.
48,243.
46,140.
68,307.
386,427.
165,464.
162,183.
163,298.
70,284.
110,969.
93,958.
99,905.
316,143.
54,495.
68,225.
63,393.
13,354.
82,914.
98,757.
125,273.
1,789.
238.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
19,790.
33,514.
47,985.
13,354.
61,335.
65,005.
77,288.
313,718.
553,537.
653,622.
1,121,807.
76,050.
76,050.
76,050.
76,050.
76,050.
76,050.
76,050.
76,050.
0.0
0.0
0.0
0.0
237,668.
236,460.
338,704.
476,650.
19,445.
19,445.
19,445.
217,015.
319,259.
457,205.
241,027.
238,868.
569,107.

296,016.
296,016.
0.0
221,960.
-

0.0
-16968
16,300.
0.0
380,250.
-

391,280.
391,280.
0.0
295,269.
160,035.
135,234.
96,011.
53,486.
16,045.
37,441.
82,324.
5,698.
5,583.
9,709.
8,235.
0.0
0.0
-4291

415,428.
415,428.
0.0
302,101.
199,897.
102,204.
113,327.
65,753.
16,951.
48,802.
96,853.
10,617.
10,479.
94,268.
2,080.
15,210.
0.0
33,890.

569,195.
569,195.
0.0
391,726.
243,239.
148,487.
177,469.
80,449.
23,039.
57,410.
113,722.
9,305.
8,486.
143,757.
5,697.
38,025.
0.0
22,309.

595,628.
327,072.
0.0
0.0
26,858. -33268
22,776.
70,284.

636,451.
1,789.
1,474.
112,758.

752,379.
238.
76,978.
94,196.

1,247,080.
0.0
100,035.
99,905.

.31
1.46
12.81
.49
1.82
75.46

.26
2.56
9.86
.45
2.19
72.72

.35
1.63
9.91
.4
2.76
68.82

332,183.
332,183.
0.0
319,692.
-

74,056.
30,651.
-

12,491.
32,441.
-

30,651.
-

32,441.
-

3,412.
41,698.
14,840.
0.0
0.0
-

2011

.99
1.15
11.97
.44
3.28
74.98

.21
0.0
15.29
.47
.76
96.24

.27
6.47
8.12
7.6
-

1.27
-2.45
-4.03
-3.68
-

2.7
-

2.37

14.09
0.0
5.3
104.11

.45
1.28
2.24
2.02

-5.11
0.0
-4.37
41.25

1.93
2.74
2.48
-.02
.19
72.79

.4
10.98
15.62
13.58
6.06
1.56
10.
22.69
.13
12.12
85.95

.26
12.37
16.19
14.38
3.63
1.76
17.94
25.26
.08
18.15
147.51

Crescent Jute Products Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
259,543.
393,508.
259,543.
17,945.
0.0
256,892.
4,501.
126,539.
37,447.
33,330.
55,075.
631,560.
302,805.
328,755.
40,000.
40,000.
0.0
-155125
150,635.
150,635.
0.0
-305760
443,953.
336,955.
106,998.
433,949.
10,004.
64,884.
64,884.
53,400.
-52053
2,609.
0.0
0.0
-115125
40,000.
-54662
342,805.
.12
12.03
8.43
.86
.41
97.75

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
168

-4.33
-9.38
41.64
90.62
3.51
-11.72
0.0
-3.63
-10.3

2011

Financial Statement Analysis of Non Financial Sector

2007
203,219.
355,067.
203,219.
17,883.
0.0
208,313.
7,553.
68,915.
8,051.
72,363.
51,431.
416,434.
130,025.
286,409.
40,000.
0.0
40,000.
-44902
150,635.
150,635.
0.0
-195537
-

(Thousand Rupees)
2008
2009
2010
2011
513,232.
492,401.
747,472.
695,960.
0.0
0.0
0.0
685,277.
584,164.
967,418.
924,806.
513,232.
488,474.
745,006.
694,126.
22,244.
26,364.
16,198.
37,865.
0.0
0.0
0.0
0.0
553.
135.
135.
3,374.
2,332.
1,699.
310,198.
241,100.
540,450.
323,331.
2,955.
25,249.
14,778.
7,722.
158,192.
143,146.
255,897.
148,795.
84,713.
29,113.
142,284.
116,059.
4,258.
0.0
76,760.
1,524.
60,080.
43,592.
50,731.
49,231.
491,898.
255,252.
552,681.
475,784.
191,679.
191,679.
369,816.
311,035.
300,219.
63,573.
182,865.
164,749.
17,519.
151,564.
264,575.
245,488.
17,519.
17,519.
14,267.
63,105.
59,269.
57,845.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
17,519.
70,941.
187,787.
173,376.
314,013.
326,685.
470,666.
298,019.
237,635.
237,634.
237,635.
237,635.
237,635.
237,634.
237,635.
237,635.
0.0
0.0
0.0
0.0
-369965
-432273
76,378. -295068
35,768.
35,768.
35,768.
-330836
-405733
-468041
384,119.
602,997.
492,658.

461,600.
404,903.
56,697.
478,928.

711,121.
634,903.
76,218.
656,638.
-

-17328
75,505.

54,483.
82,890.
-

75,505.

82,890.

43,105.

17,619.

160,830.
3,112.
0.0
0.0

23,493.
4,141.
0.0
0.0
-

-4902

0.0
157,718.
130,025.

331,532.
0.0
19,352.
191,679.

.21
9.34
1.74
1.12
.5
103.75

.19
2.48
11.91
.86
.63
92.34

999,999.
566,002.
453,768.
966,739.
547,140.
417,876.
33,260.
18,862.
35,892.
871,564.
525,658.
524,173.
565,923.
446,813.
335,021.
305,642.
78,845.
189,152.
128,434.
40,343. -70405
95,005.
85,834.
82,701.
17,400.
8,966.
13,407.
77,606.
76,868.
69,294.
205,939.
128,309.
110,902.
30,776.
39,183.
55,081.
29,842.
38,540.
54,341.
-96532
5,188. -84068
333.
2,931.
412.
0.0
0.0
0.0
0.0
0.0
0.0
-28969
109,655. -285073
478,249.
735,241.
543,508.
17,519.
17,519.
14,267.
-96944
4,855. -86999
209,198.
387,335.
325,302.
.21
3.08
2.91
1.36
.94
87.16

.42
6.92
25.14
.44
.98
92.87

.26
12.14
25.58
.45
.68
115.52

-10.17
34.66
-160.81
-267.99

1.62
3.8
17.46
14.39
-

6.7

4.5

34.84
0.0
10.47
-2.98

1.25
.67
1.62
1.28

3.3
0.0
.81
13.21

1.74
-8.32
-21.09
-13.86
-

6.99
1.17
.52
.27
.2
13.75

2.42
-8.37
-25.12
-15.1
-

2.21
-1.18
-14.85
-.35
-3.66
19.81

3.05
-.78
-21.27
-.04
-4.08
12.54

Ibrahim Fibres Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
7,806,259.
14,132,676.
7,786,968.
817,915.
19,291.

10,961,259.
268,092.
1,629,916.
156,699.
7,590,169.
1,316,383.
5,484,798.
2,014,428.
3,470,370.
5,511,125.

5,511,125.
7,771,595.
3,105,070.
3,105,070.
4,666,525.

17,216,464.
17,161,466.
54,998.
15,270,454.

1,946,010.
385,562.
385,562.
931,897.
1,848,453.
262,166.

13,282,720.
1,586,287.
2,014,428.
1.46
5.41
.91
.92
2.
88.7

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.41
9.77
25.33
13.72
10.56
10.74
0.0
5.11
25.03
169

Financial Statement Analysis of Non Financial Sector

2007
7,512,306.
14,073,054.
7,494,543.
767,223.
17,763.
13,155,479.
297,480.
2,495,261.
119,188.
8,535,576.
1,707,974.
6,640,474.
1,800,910.
4,839,564.
4,911,549.
0.0
0.0
4,911,549.
9,115,762.
3,105,070.
3,105,070.
0.0
0.0
6,010,692.
-

(Thousand Rupees)
2008
2009
2010
2011
7,515,665. 21,407,628. 21,547,107. 22,633,606.
132,295.
252.
1,719,740.
14,964,754. 16,069,677. 16,220,027. 16,790,565.
7,501,107.
7,684,718.
7,190,161.
7,109,168.
743,027.
723,283.
758,214.
715,480.
14,558.
14,005.
8,928.
11,093.
13,572,874. 14,318,836. 13,769,491.
3,736.
28,930.
24,114.
16,340,927.
5,071,029.
5,469,824.
7,476,830.
244,560.
169,515.
72,754.
155,388.
4,173,311.
2,909,688.
2,355,116.
2,676,081.
129,139.
162,983.
138,790.
162,236.
9,326,015.
0.0
0.0
2,467,902.
1,828,843.
2,903,165.
4,483,125.
8,714,898.
6,392,585.
5,237,463.
6,287,338.
2,302,166.
3,279,478.
672,269.
2,486,982.
6,412,732.
3,113,107.
4,565,193.
3,800,356.
5,580,842.
8,215,229.
6,541,364.
5,047,037.
6,161,208.
4,325,000.
2,541,667.
0.0
0.0
0.0
0.0
0.0
312,580.
401,887.
525,356.
5,580,842.
1,741,442.
1,814,477.
1,980,014.
9,560,852. 11,870,843. 15,238,104. 18,776,061.
3,105,070.
3,105,070.
3,105,070.
3,105,070.
3,105,070.
3,105,070.
3,105,070.
3,105,070.
0.0
0.0
0.0
6,455,782.
8,765,773. 12,133,034. 15,670,991.
1,150,373.
1,157,521.
1,164,673.
7,615,400. 10,975,513. 14,506,318.
0.0
0.0

16,330,362.
16,267,891.
62,471.
14,699,851.
-

21,557,329.
21,447,443.
109,886.
19,370,621.
-

1,630,511.
445,666.
-

2,186,708.
553,600.
-

445,666.
-

553,600.
-

925,671.

0.0

870,923.
-

1,768,636.
132,484.
0.0
0.0

0.0
0.0

2011

2,109,505.
262,898.
0.0
500,000.
-

22,059,607. 27,123,869.
21,978,281. 27,045,970.
81,326.
77,899.
19,748,551. 24,374,579.
15,930,333. 19,800,852.
3,818,218.
4,573,727.
2,311,056.
2,749,289.
575,247.
774,323.
126,675.
158,861.
448,572.
615,463.
780,302.
1,083,456.
1,387,288.
1,262,093.
1,379,814.
1,258,590.
1,926,152.
3,893,805.
94,430.
461,282.
0.0
621,014.
0.0
2,374,480. -254615

37,300,680.
37,168,223.
132,457.
34,177,383.
29,453,730.
4,723,653.
3,123,297.
843,982.
152,782.
691,200.
1,384,727.
828,975.
824,716.
4,874,537.
644,189.
931,521.
0.0
3,681,384.

14,027,311.
0.0
1,636,152.
1,800,910.

15,141,694.
0.0
1,846,607.
2,302,166.

20,086,073.
6,161,208.
1,831,722.
9,440,686.

21,779,469.
4,325,000.
2,811,508.
4,997,269.

23,823,098.
2,541,667.
3,298,827.
5,028,649.

1.35
5.67
.73
.79
1.98
90.02

1.11
4.04
.6
.9
1.88
89.86

.05
6.29
.74
.83
.79
89.52

.04
4.65
.51
1.
1.04
89.86

.05
2.22
.43
1.24
1.19
91.63

0.0

0.0
0.0

0.0

0.0

0.0

1.27
8.97
20.95
12.95
-

1.5
9.48
22.59
14.46
-

6.54
-

5.17

10.83
0.0

1.23
7.65
17.97
10.94

9.79
0.0
5.95
30.79

7.58
2.4
8.73
.16
5.9
38.23

.77
14.56
28.73
18.6
5.53
11.52
4.09
14.36
-.02
11.05
49.07

.6
17.07
28.66
21.38
4.54
13.94
6.91
13.07
.32
13.62
60.47

Latif Jute Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
63,629.
75,745.
63,629.
216.
0.0

883.
163.
0.0
0.0
0.0
720.
29,243.
0.0
29,243.
0.0

0.0
0.0
35,269.
35,574.
35,574.
0.0
-305

0.0
0.0
0.0
0.0

0.0
3,104.
3,104.
43.
-1988
0.0
0.0
0.0

35,269.
0.0
-1988
0.0
.01

0.0
.03

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.83
-3.08
-5.59
-5.59

0.0
-.56
9.91
170

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
62,764.

62,764.
-

62,764.
62,764.
0.0
0.0
-

62,764.
62,764.
0.0
0.0
-

716.
55.
0.0
0.0
0.0
661.
29,108.
0.0
29,108.
0.0
-

461.
38.
0.0
0.0
0.0
423.
27,602.
25,170.
2,432.
0.0
-

0.0

0.0
-

0.0
34,372.
35,574.
35,574.
0.0
-

-1202
-

0.0
35,623.
35,574.
35,574.
0.0
49.
-

0.0
0.0
0.0
0.0
-

0.0
2,795.
-

6,022.
-

-1010

2,795.
-

10.

2.
1,435.
173.
0.0
0.0

0.0
0.0
0.0
-

34,372.
0.0

35,623.
0.0
1,262.
25,170.

-1010
0.0
0.0
-

0.0
-

0.0
.02
-

89,234.
0.0
0.0
0.0
0.0
0.0
88,960.
274.
305.
191.
0.0
0.0
0.0
114.
1,927.
0.0
1,927.
23,166.
0.0
23,140.
0.0
0.0
26.
64,446.
35,574.
35,574.
0.0
-22063
0.0
-22063
50,935.

0.0
0.0
0.0
0.0

0.0
6,022.
-

2009

0.0
0.0
0.0
0.0
0.0
0.0
0.0
3,167.
0.0
3,167.
989.
2.
2.
28,947.
236.
0.0
0.0
1,261.

0.0
0.0
0.0
0.0
0.0
0.0
0.0
4,533.
0.0
4,533.
1,015.
2.
0.0
1,721.
581.
0.0
0.0
1,436.

0.0
0.0
0.0
0.0
0.0
0.0
0.0
3,699.
0.0
3,699.
1,133.
160.
0.0
689.
420.
0.0
0.0
344.

87,612.
0.0
28,711.
0.0

89,010.
444.
1,140.
783.

88,978.
303.
269.
566.

.1
-

0.0
.02
-

(Thousand Rupees)
2010
2011
90,282.
90,132.
0.0
0.0
1,095.
1,122.
938.
788.
156.
178.
0.0
0.0
88,960.
88,960.
384.
384.
350.
596.
80.
30.
0.0
0.0
0.0
0.0
0.0
0.0
270.
566.
1,623.
1,749.
339.
263.
1,283.
1,486.
23,458.
23,168.
444.
303.
23,015.
22,865.
0.0
0.0
0.0
0.0
0.0
0.0
65,551.
65,811.
35,574.
35,574.
35,574.
35,574.
0.0
-20957
-20698
0.0
-20957
-20698
50,935.
50,935.

.05
-

0.0
.16
-

.02
-

0.0
.22
-

0.0
.34
-

.85
-1.58
-2.9
-2.9
-

.77
2.27
4.1
4.1
-

0.0
-.28
9.66

.39
37.9
57.85
46.98
-

0.0
.35
10.01

15,236.47 .05
8.07
18.12

.38
1.91
2.65
1.95

.38
.76
1.05
.77
-

.06
.32
18.43

.01
.08
18.5

Noor Silk Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
333.
3,083.
333.
54.
0.0
1,401.
1,142.
0.0
0.0
0.0
259.
13,815.
0.0
13,815.
0.0
0.0
0.0
-12081
4,000.
4,000.
0.0
-16081
0.0
0.0
0.0
0.0
0.0
861.
861.
0.0
339.
262.
0.0
0.0
-12081
0.0
77.
0.0
.08
0.0
.1
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-1.14
20.87
-2.82
-2.82
0.0
.19
-30.2
171

2011

Financial Statement Analysis of Non Financial Sector

2007

2008

2009

326.
-

57.
-

3,036.
326.
7.
0.0
-

2,774.
57.
2,716.
0.0
-

1,160.
896.
0.0
0.0
0.0
264.
13,613.
0.0
13,613.
0.0
-

1,945.
1,418.
0.0
0.0
0.0
527.
12,938.
0.0
12,938.
0.0
-

0.0
-

0.0
-

0.0
-12127

0.0
-10936

4,000.
4,000.
0.0
-16127
-

4,000.
4,000.
0.0
-14936
-

0.0
0.0
0.0
0.0
-

0.0
0.0
0.0
0.0
-

0.0
1,186.
-

0.0
923.
-

1,186.
-

923.
-

0.0
-

0.0
-

14.
60.
0.0
0.0
-

1,316.
125.
0.0
0.0
-

-12127

-10936
0.0

0.0
1,191.
0.0

-46
0.0
.07
-

0.0
.09

573.
0.0
2,774.
52.
6.
0.0
0.0
521.
1,604.
1,598.
0.0
0.0
0.0
6.
0.0
0.0
0.0
12,595.
0.0
6,586.
0.0
0.0
6,009.
-10418
4,000.
4,000.
0.0
-14418
0.0
-14418
0.0

.11 0.0
.15 -

(Thousand Rupees)
2010
2011
567.
563.
0.0
0.0
2,774.
2,774.
46.
304.
5.
5.
0.0
0.0
0.0
0.0
521.
259.
1,584.
1,976.
1,578.
1,970.
0.0
0.0
0.0
0.0
0.0
0.0
6.
6.
0.0
6,015.
0.0
0.0
0.0
6,015.
12,214.
6,201.
0.0
0.0
6,201.
6,201.
0.0
0.0
0.0
0.0
6,013.
0.0
-10063
-9677
4,000.
4,000.
4,000.
4,000.
0.0
0.0
-14063
-13677
0.0
0.0
-14063
-13677
0.0
0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
995.
0.0
995.
299.
0.0
0.0
578.
60.
0.0
0.0
554.

0.0
0.0
0.0
0.0
0.0
0.0
0.0
1,154.
0.0
1,154.
326.
0.0
0.0
478.
122.
0.0
0.0
365.

0.0
0.0
0.0
0.0
0.0
0.0
0.0
1,134.
0.0
1,134.
398.
0.0
0.0
515.
130.
0.0
0.0
392.

2,151. -3476
0.0
356.
0.0

2,177.
0.0
518.
0.0
0.0

.33
0.0

0.0
385.
0.0

0.0
.33
-

-1.12
.87
-.12
-.12
-

-1.18
75.46
-11.41
-11.41
-

0.0
-.12
-30.32

-1.21
27.67
-5.42
-13.2
-

0.0
2.98
-27.34

-1.21
22.09
-4.67
22.08
-

.04
1.3
-26.04

-1.26
21.96
-5.22
-77.76
-

.03
.89
-25.16

.03
.96
-24.19

Pakistan Synthetics Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
454,095.
1,892,136.
454,095.
76,421.

838,394.
11,682.
413,076.
246,290.
167,346.
309,791.
40,813.
268,978.

982,698.
560,400.
560,400.
422,298.

1,873,043.
1,873,043.
1,797,457.

75,586.
51,681.
51,681.
9,336.
27,050.
676.
56,040.

982,698.
-29666
40,813.
.83
.5
13.15
1.45
2.71
95.96

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.32
2.09
2.69
2.69
.47
4.53
1.44
0.0
.47
17.54
172

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
0.0
0.0

0.0
-

0.0
-

2007
503,267.
1,942,382.
503,132.
84,324.
135.
771,295.
3,641.
294,620.
291,398.
0.0
181,636.
356,499.
74,207.
282,292.
67,376.
0.0
67,376.
850,687.
560,400.
560,400.
0.0
290,287.
-

0.0

(Thousand Rupees)
2008
2009
2010
2011
425,733.
362,415.
315,552.
1,155,818.
0.0
0.0
181,907.
1,953,648.
1,990,974.
2,030,733.
2,839,463.
425,733.
360,693.
293,070.
972,801.
98,321.
103,427.
108,199.
129,350.
0.0
0.0
0.0
0.0
0.0
1,722.
22,482.
1,110.
1,270,075.
939,751.
1,008,315.
1,488,601.
15,022.
121,015.
173,384.
388,927.
683,183.
326,747.
306,111.
526,186.
356,525.
332,029.
370,895.
337,851.
0.0
0.0
0.0
215,345.
159,960.
157,925.
235,637.
789,312.
365,457.
417,192.
1,362,732.
184,089.
41,215.
0.0
1,088,371.
605,223.
324,242.
417,192.
274,361.
50,016.
37,898.
26,093.
114,801.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
30,602.
26,093.
25,617.
50,016.
7,296.
0.0
89,184.
856,480.
898,811.
880,582.
1,166,886.
560,400.
560,400.
560,400.
560,400.
560,400.
560,400.
560,400.
560,400.
0.0
0.0
0.0
296,080.
338,411.
320,182.
606,486.
0.0
0.0
338,411.
320,182.
606,486.
0.0
0.0

1,559,550.
1,559,550.
0.0
1,601,230.

-41680
55,545.
55,545.
10,027.
-102945
7,798.
0.0
0.0
0.0
918,063.
0.0
-110743
74,207.
.83
.64
18.68
1.22
2.16
102.67

2011

2,284,268.
2,284,268.
0.0
2,162,806.

2,452,646.
2,452,646.
0.0
2,310,990.
1,683,530.
627,460.
141,656.
68,698.
10,890.
57,808.
90,171.
19,255.
15,904.
62,823.
14,769.
70,050.
0.0
348,293.

3,280,755.
3,280,755.
0.0
3,133,503.
2,576,839.
556,664.
147,252.
73,509.
11,809.
61,700.
106,754.
7,033.
1,695.
76,580.
53,334.
0.0
0.0
194,106.

4,154,303.
4,154,303.

906,496.
936,709.
0.0
0.0
11,932. -21996
184,089.
41,215.

906,675.
0.0
23,246.
0.0

1,281,687.

1.3
.21
11.31
2.48
2.42
95.51

.53
.23
8.13
1.57
1.09
85.88

121,462.
80,923.
80,923.
19,001.
23,347.
11,415.
0.0
0.0
-

.47
.83
15.61
1.35
1.61
94.68

1.24
.79
13.54
1.88
2.57
94.22

0.0
0.0

0.0

0.0
0.0
0.0

0.0
0.0
0.0

0.0
3,567,817.
3,011,953.
555,864.
586,486.
157,587.
17,048.
140,539.
144,384.
9,417.
6,171.
440,579.
43,812.
112,080.
0.0
71,918.

0.0
284,687.
1,088,371.

.5
-8.02
-11.23
-10.83
-

.98
1.57
2.74
2.56
-

5.29
-

3.34
-

-6.6
0.0
-1.98
15.18

1.02
0.0
.21
15.28

.45
4.19
7.16
6.82
.69 7.51
4.95
2.56
.86
.86
16.04

.5
5.83
8.61
8.31
10.72
46.18
2.33
.44
.41
15.71

1.27
22.21
43.04
40.27
3.54
7.9
72.4
10.61
.05
7.08
20.82

Rupali Polyester Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
740,668.
2,245,914.
740,668.
61,704.
0.0

1,663,521.
403,892.
978,179.
12,081.
77,351.
192,018.
197,323.
0.0
197,323.
0.0

0.0
0.0
2,206,866.
340,685.
340,685.
0.0
1,866,181.

3,538,031.
3,538,031.
0.0
3,365,209.

172,822.
91,411.
91,411.
1,100.
169,119.
12,660.
102,206.
0.0

2,206,866.
0.0
54,253.
0.0
2.5
.03
.34
1.47
8.43
95.12

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.09
7.11
7.76
7.76
1.53
3.62
4.78
0.0
4.59
64.78
173

Financial Statement Analysis of Non Financial Sector

2007
943,955.
2,422,492.
943,955.
71,158.
0.0
1,782,874.
458,118.
774,371.
17,325.
87,875.
445,185.
677,816.
0.0
677,816.
0.0
0.0
0.0
2,049,013.
340,685.
340,685.
0.0
1,708,328.
-

(Thousand Rupees)
2008
2009
2010
2011
992,533.
1,113,163.
1,244,063.
1,224,168.
2,845.
300,143.
26,998.
2,594,338.
2,634,322.
2,650,301.
3,019,111.
992,533.
969,334.
907,586.
1,192,889.
85,844.
88,116.
85,578.
83,843.
0.0
0.0
0.0
0.0
92,064.
32,150.
0.0
48,920.
4,184.
4,281.
1,938,874.
1,609,448.
1,560,041.
2,748,464.
366,644.
527,326.
168,314.
10,266.
881,259.
607,564.
687,403.
1,925,566.
3,945.
5,481.
61,302.
65,930.
91,844.
0.0
0.0
0.0
595,182.
469,077.
643,022.
746,702.
516,869.
230,032.
241,656.
1,146,577.
0.0
0.0
0.0
10,817.
516,869.
230,032.
241,656.
1,135,760.
279,678.
263,293.
261,634.
329,253.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
64,871.
70,672.
79,661.
279,678.
198,422.
190,962.
249,592.
2,134,860.
2,229,286.
2,300,814.
2,496,802.
340,685.
340,685.
340,685.
340,685.
340,685.
340,685.
340,685.
340,685.
0.0
0.0
0.0
0.0
1,794,175.
1,888,601.
1,960,129.
2,156,117.
71,490.
71,490.
71,490.
1,817,111.
1,888,639.
2,084,627.
0.0
0.0
0.0

4,130,672.
4,104,562.
26,110.
3,925,623.
-

4,240,964.
4,240,964.
0.0
3,982,831.
-

205,049.
112,221.
-

258,133.
115,006.
-

112,221.
-

115,006.
-

2,661.

2,213.
-

165,044.
19,879.
85,171.
0.0
-

2011

227,539.
56,428.
102,206.
0.0
-

4,237,268.
4,237,268.
0.0
3,937,467.
3,075,092.
862,375.
299,801.
124,810.
12,376.
112,434.
221,836.
3,215.
86.
261,092.
90,972.
136,274.
0.0
329,278.

4,774,324.
4,774,324.
0.0
4,301,276.
3,169,957.
1,131,319.
473,048.
260,770.
13,669.
247,101.
227,178.
2,925.
5.
286,005.
107,860.
136,274.
0.0
98,235.

6,455,848.
6,420,837.
35,011.
5,804,892.
5,664,817.
140,075.
650,956.
185,600.
15,397.
170,203.
272,250.
11,914.
6,493.
503,881.
116,219.
187,377.
0.0
62,959.

2,049,013.
0.0
59,994.
0.0

2,414,538.
0.0
68,905.
0.0

2,492,579.
0.0
33,846.
0.0

2,562,448.
0.0
41,871.
0.0

2,826,055.
0.0
200,285.
10,817.

.83
.06
.42
1.51
2.63
95.04

.89
.05
.09
1.45
3.75
93.91

2.32
.08
.13
1.56
7.
92.92

.95
.06
1.28
1.7
6.46
90.09

.07
.18
1.02
1.63
2.4
89.92

.33
6.43
7.76
7.76
1.7
5.33
-

.37
8.04
10.88
10.2
1.67
4.81
-

4.
0.0
4.26
60.14

5.37
0.0
5.02
62.66

.22
9.24
11.97
10.64
1.25
6.97
3,036.95
6.16
.67
4.99
65.44

.22
10.35
12.63
11.32
1.31
6.95
57,202.
5.99
.2
5.23
67.53

.59
14.87
21.01
18.7
2.07
3.35
78.6
7.81
.04
11.38
73.29

S.G. Fibres Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
868,132.
1,820,556.
867,783.
46,496.
349.

728,895.
1,625.
329,576.
98,535.
0.0
299,159.
1,040,936.
233,628.
807,308.
83,940.

0.0
83,940.
472,151.
150,000.
150,000.
0.0
322,151.

1,005,312.
811,412.
193,900.
842,996.

162,316.
69,225.
69,225.
44,334.
57,754.
5,026.
0.0
0.0

556,091.
0.0
52,728.
233,628.
.1
4.41
9.8
.63
.7
83.85

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.38
3.68
12.21
10.4
3.05
5.74
0.0
3.52
31.48
174

2011

Financial Statement Analysis of Non Financial Sector

2007
825,114.
1,822,875.
825,047.
45,055.
67.
356,930.
2,997.
25,156.
1,964.
0.0
326,813.
751,172.
0.0
751,172.
302,317.
0.0
302,317.
128,555.
150,000.
150,000.
0.0
-21445
-

(Thousand Rupees)
2008
2009
2010
2011
782,836.
743,123.
705,900.
670,995.
0.0
0.0
0.0
1,822,875.
1,820,349.
1,817,189.
1,816,368.
782,836.
743,027.
705,804.
670,899.
42,211.
39,537.
37,104.
34,870.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
96.
96.
96.
321,479.
101,848.
99,995.
79,237.
969.
1,683.
2,654.
610.
23,363.
6,757.
3,933.
3,933.
51.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
297,096.
93,408.
93,408.
74,694.
1,008,566.
189,645.
182,872.
179,460.
0.0
0.0
0.0
0.0
1,008,566.
189,645.
182,872.
179,460.
353,037.
579,909.
587,515.
590,549.
0.0
0.0
0.0
568,807.
576,413.
579,446.
0.0
0.0
0.0
0.0
5,364.
5,364.
5,364.
353,037.
5,738.
5,738.
5,738.
-257288
75,417.
35,508. -19777
150,000.
150,000.
150,000.
150,000.
150,000.
150,000.
150,000.
150,000.
0.0
0.0
0.0
0.0
-407288
-74583
-114492
-169777
337,400.
337,400.
337,400.
-411983
-451892
-507177
0.0
0.0
0.0

384,282.
351,755.
32,527.
649,337.

0.0
0.0
0.0
37,389.

-265055
38,867.
38,867.
35,552.
-337144
1,154.
0.0
0.0
-

-37389
11,602.
11,602.
2,138.
-48339
0.0
0.0
0.0
-

0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
33,474.
34,207.
48,578.
0.0
0.0
0.0
33,474.
34,207.
48,578.
-33474
-34207
-48578
13,448.
11,681.
10,684.
0.0
0.0
0.0
13,448.
11,681.
10,684.
2,478.
3,724.
2,558.
32.
3.
88.
0.0
0.0
0.0
-44312
-39910
-55285
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-5203
193,551. -7332

430,872.
95,749.
655,326.
623,023.
570,772.
0.0
0.0
0.0
0.0
0.0
-338298
-48339
-44312
-39910
-55285
0.0
0.0
0.0
0.0
0.0
.01
9.25 .51 .33
.48
168.97 -

0.0

.01
-

0.0
.32

.01
-

0.0
.54
-

0.0
-

0.0
.55
-

0.0
.44
-

8.19
-24.26
-112.25
-68.32
-

-5.29
-4.23
75.1
-18.36
-

15.28
-

-87.73 0.0
-22.55
8.57

10.2
-4.55
48.73
-11.8
-

0.0

0.0

0.0
-3.22
-17.15

21.7
-4.83
-71.96
-6.24
0.0
-

.25
-2.95
5.03

-38.93
-7.11
-702.89
-9.26
0.0
-

-.01
-2.66
2.37

-.01
-3.69
-1.32

Suhail Jute Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
239,389.
412,351.
239,389.
7,440.
0.0

413,251.
10,792.
63,788.
12,567.
221,495.
104,609.
267,201.
170,673.
96,528.
14,112.

6,382.
7,730.
371,327.
37,450.
37,450.
0.0
333,877.

206,023.
185,490.
20,533.
197,475.

8,548.
23,368.
23,368.
23,011.
4,968.
1,030.
1,873.
0.0

385,439.
6,382.
2,065.
177,055.
.92
11.17
6.1
.32
1.55
95.85

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.76
.77
1.4
1.33
2.1
3.23
2.41
0.0
1.05
99.15
175

Financial Statement Analysis of Non Financial Sector

2007
235,994.
416,020.
235,994.
7,064.
0.0
488,077.
4,493.
89,639.
5,754.
298,362.
89,829.
295,577.
214,003.
81,574.
7,382.
6,382.
1,000.
421,112.
37,450.
37,450.
0.0
383,662.
-

(Thousand Rupees)
2008
2009
2010
2011
754,940.
811,866.
804,064.
921,618.
0.0
0.0
0.0
342,572.
942,614.
942,631.
868,761.
754,940.
746,875.
739,182.
854,279.
7,607.
8,107.
7,710.
676.
0.0
0.0
0.0
0.0
2,550.
0.0
0.0
62,441.
64,883.
67,339.
448,218.
199,731.
233,761.
79,276.
2,375.
2,642.
1,606.
15,982.
90,450.
101,728.
68,568.
19,007.
33,991.
5,676.
45,195.
4,200.
2,550.
44,386.
51,314.
182.
318,852.
45,298.
67,077.
39,904.
257,545.
194,576.
226,763.
234,064.
228,117.
0.0
155,102.
180,650.
29,428.
194,576.
71,661.
53,414.
22,682.
23,104.
26,038.
24,486.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
26,038.
24,486.
22,682.
23,104.
0.0
0.0
922,931.
793,917.
785,024.
742,344.
37,450.
37,450.
37,450.
37,450.
37,450.
37,450.
37,450.
37,450.
0.0
0.0
0.0
0.0
885,481.
37,032.
33,446. -14246
0.0 -10301
33.
37,032.
43,747. -14279
719,435.
714,128.
719,139.

236,495.
233,782.
2,713.
236,001.
-

253,742.
240,343.
13,399.
244,434.
-

494.
28,550.
-

9,308.
35,816.
-

28,550.
-

-7627

35,816.
-

27,357.

31,893.
24,278.
1,243.
0.0
0.0

1,163.
0.0
0.0
-

428,494.
6,382.
-8790
220,385.
1.04
11.57
2.43
.33
1.65
99.79

2011

344,967.
414,395.
2,653.
344,967.
414,395.
2,653.
0.0
0.0
0.0
296,144.
370,696.
24,141.
197,717.
243,390.
16,842.
98,427.
127,306.
7,299.
48,823.
43,700. -21487
31,262.
29,219.
29,347.
5,574.
5,918.
41.
25,688.
23,302.
29,306.
75,889.
70,814.
27,420.
43,532.
26,630.
8,114.
42,771.
23,984.
4,749.
-22132
-4610
-65679
0.0
2,609.
27.
0.0
0.0
0.0
0.0
0.0
0.0
-10342
-29897
87,903.

945,613.
817,021.
811,062.
766,829.
0.0
0.0
0.0
0.0
-7219
-65706
23,035. -22132
228,117.
0.0
155,102.
180,650.
.15
12.57
13.4
.21
1.74
96.33

.27
12.62
1.65
.34
1.03
85.85

.43
6.43
10.91
.4
1.03
89.45

.09
305.81
158.3
0.0
.34
909.87

.72
-1.11
-1.92
-1.87
-

.3
2.52
3.61
3.53
-

2.64
-

.32
-.45
-.58
-.57

3.39
.48
-6.42
-.05
-5.91
211.99

6.04
.81
-1.11
-.12
-1.93
209.62

2.81

-3.23
0.0
-2.35
112.45

.27
-2.
-2.58
-2.51

9.57
0.0
6.15
246.44

.35
-6.44
-8.6
-8.32
-

.14
-12.83
-2,475.48
.34
-17.55
198.22

The National Silk & Rayon Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
138,518.
220,362.
138,518.
9,278.
0.0

71,962.
1,077.
22,465.
37,080.
0.0
11,340.
129,772.
34,430.
95,342.
6,441.

0.0
6,441.
74,267.
11,109.
11,109.
0.0
63,158.

278,336.
261,803.
16,533.
251,837.

26,499.
21,114.
21,114.
5,334.
640.
1,474.
1,111.
0.0

80,708.
0.0
-1945
34,430.
.29
1.92
13.32
1.32
.55
90.48

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.83
.32
.85
.79
-.75
12.39
.23
0.0
-.75
66.85
176

Financial Statement Analysis of Non Financial Sector

2007
149,480.
240,839.
149,480.
11,932.
0.0
61,249.
1,735.
17,833.
24,335.
0.0
17,346.
133,710.
19,545.
114,165.
11,847.
0.0
11,847.
65,172.
11,109.
11,109.
0.0
54,063.
-

(Thousand Rupees)
2008
2009
2010
2011
171,672.
160,148.
177,806.
170,387.
0.0
0.0
0.0
268,800.
268,800.
253,656.
287,925.
171,672.
157,175.
174,339.
167,446.
11,238.
13,496.
11,613.
13,171.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2,973.
3,467.
2,941.
101,264.
70,846.
74,972.
91,332.
9,332.
1,894.
2,463.
3,801.
29,364.
23,803.
22,046.
45,028.
27,377.
23,340.
23,187.
15,472.
0.0
0.0
0.0
0.0
35,191.
21,808.
27,276.
27,031.
188,248.
58,572.
74,386.
88,007.
27,096.
4,616.
8,144.
33,427.
161,152.
53,957.
66,242.
54,580.
11,160.
102,485.
107,590.
106,254.
3,594.
4,551.
2,329.
92,089.
97,089.
97,089.
0.0
0.0
0.0
0.0
5,385.
5,951.
6,836.
11,160.
1,417.
0.0
0.0
73,528.
69,937.
70,802.
67,458.
11,109.
11,109.
11,109.
11,109.
11,109.
11,109.
11,109.
11,109.
0.0
0.0
0.0
0.0
62,419.
9,449.
10,313.
6,970.
0.0
0.0
0.0
9,449.
10,313.
6,970.
49,379.
49,379.
49,379.

302,956.
0.0
302,956.
279,479.
-

321,137.
0.0
321,137.
300,632.
-

23,477.
17,057.
-

20,505.
15,228.
-

17,057.
-

15,228.
-

7,680.

6,144.
2,983. -658
1,617.
0.0
0.0

594.
1,543.
0.0
0.0
-

77,019.
0.0

-949
19,545.
.19
2.54
8.03
1.44
.46
92.25

2011

390,774.
371,277.
19,497.
371,971.
166,364.
205,607.
18,804.
21,331.
836.
20,495.
26,834.
3,762.
2,566.
202.
0.0
0.0
13,113.

378,186.
367,222.
10,964.
356,855.
155,756.
201,099.
21,330.
17,101.
288.
16,813.
24,311.
4,413.
2,877.
1,827.
1,944.
1,111.
0.0
5,566.

365,110.
357,030.
8,080.
343,775.
150,860.
192,915.
21,335.
16,211.
383.
15,828.
25,459.
4,849.
4,270.
1,700.
3,826.
0.0
0.0
1,104.

84,688.
172,422.
178,392.
173,712.
0.0
3,594.
4,551.
2,329.
-1228
-2126
1,366. -859
27,096.
8,209.
12,695.
35,756.
.2
1.91
8.53
1.18
.54
93.61

.43
.96
5.97
1.69
1.21
95.19

.34
1.17
6.13
1.5
1.01
94.36

.22
1.33
4.24
1.4
1.04
94.16

2.23
.28
.85
.75
-

2.71
1.23
4.3
3.69
-

16.99
-

10.94

.2
0.0
-.85
58.67

2.3
-.26
-.92
-.51

.93
0.0
1.23
66.19

16.42
.74
-.17
.08
-.77
62.95

2.57
.76
2.6
1.04
-.1
17.15
1.64
.48
.03
-.1
63.73

2.88
.66
2.46
.97
8.11
1.4
.47
.01
-1.91
60.72

Tri-Star Polyester Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
309,610.
615,009.
309,610.
11,211.
0.0

159,110.
1,162.
35,260.
47.
114,526.
8,115.
155,088.
58,079.
97,009.
23,625.

0.0
23,625.
290,007.
214,657.
214,657.
0.0
75,350.

1,877.
1,877.
0.0
12,725.

-10848
1,099.
1,099.
0.0
-11827
9.
0.0
0.0

313,632.
0.0
-11836
58,079.
.75
0.0
2.5
0.0
1.03
677.94

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.62
-2.28
-6.99
-4.17
.05
-630.1
0.0
-.55
13.51
177

Financial Statement Analysis of Non Financial Sector

2007
298,852.
615,009.
298,852.
10,758.
0.0
170,448.
9.
4,935.
147.
150,369.
14,988.
162,674.
0.0
162,674.
0.0
0.0
0.0
306,626.
214,657.
214,657.
0.0
91,969.
-

(Thousand Rupees)
2008
2009
2010
2011
288,514.
313,140.
313,140.
313,140.
0.0
0.0
0.0
614,609.
614,609.
614,609.
614,609.
288,514.
278,595.
278,595.
278,595.
10,326.
9,919.
9,919.
9,919.
0.0
0.0
0.0
0.0
34,511.
34,511.
34,511.
34.
34.
34.
50,013.
14,519.
14,519.
14,519.
5.
133.
133.
133.
1,531.
410.
410.
410.
172.
212.
212.
212.
34,511.
0.0
0.0
0.0
13,794.
13,765.
13,765.
13,765.
161,029.
15,702.
15,702.
15,702.
15,750.
0.0
0.0
0.0
145,279.
15,702.
15,702.
15,702.
0.0
153,140.
153,140.
153,140.
0.0
0.0
0.0
153,140.
153,140.
153,140.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
177,498.
158,817.
158,817.
158,817.
214,657.
214,657.
214,657.
214,657.
214,657.
214,657.
214,657.
214,657.
0.0
0.0
0.0
0.0
-37159
-55840
-55840
-55840
39,387.
39,387.
39,387.
-95227
-95227
-95227
0.0
0.0
0.0

29,065.
29,065.
0.0
34,302.
-

-5237

3,100.
3,100.
0.0
13,896.
-10796

932.
-

-6048

1,550.
1,550.
0.0
11,094.
0.0
11,094.
-9544

901.
680.
-12053

145.
0.0
0.0
-

-10080
15.
0.0
0.0

654.
11.
643.
25.
2.
0.0
-10080

6.
0.0
0.0
1,047.

1,550.
1,550.
0.0
11,094.
0.0
11,094.
-9544

654.
11.
643.
25.
2.
0.0

1.

1,550.
1,550.
0.0
11,094.
0.0
11,094.
-9544

901.

932.

2011

654.
11.
643.
25.
2.
0.0
-10080

6.
0.0
0.0
1,047.

6.
0.0
0.0
1,047.

306,626.
177,498.
311,957.
311,957.
311,957.
0.0
0.0
0.0
0.0
0.0
-6193
-12068
-10086
-10086
-10086
0.0
15,750.
0.0
0.0
0.0
.93
0.0
.51
.06
1.05
118.02

.22
21.94
5.55
.01
.31
448.26

.02
.11
13.66
0.0
.92
715.77

.02
.11
13.66
0.0
.92
715.77

.02
.11
13.66
0.0
.92
715.77

.53
-1.29
-2.03
-1.95
-

.91
-2.98
-4.98
-4.98
-

5.89
-

1.06
-3.08
-6.35
-3.23

3.79

3.79

-650.34
.01
-.47
7.4

-650.34
.01
-.47
7.4

2.02

-20.81
0.0
-.29
14.28

1.06
-3.03
-5.99
-4.12

-388.81
0.0
-.56
8.27

1.06
-3.08
-6.35
-3.23
3.79
-

-650.34
.01
-.47
7.4

FOOD

Food Sector - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
52,266,922.
80,737,831.
51,758,183.
3,418,615.
508,739.

45,617,264.
4,230,246.
17,499,077.
2,941,314.
6,513,682.
14,432,945.
59,456,516.
25,116,892.
34,339,624.
13,566,619.

12,495.
13,554,124.
24,861,051.
8,760,194.
8,687,194.
73,000.
16,100,857.

140,361,883.
134,106,645.
6,255,238.
114,960,710.

25,401,173.
14,988,046.
14,988,046.
3,983,415.
8,173,213.
2,062,590.
9,388,956.
166,693.

38,427,670.
12,495.
-3278333
25,129,387.
.23
2.84
2.1
1.43
.77
81.9

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.94
9.09
35.19
22.08
.65
8.02
5.82
0.0
6.8
27.68
180

Financial Statement Analysis of Non Financial Sector

2011

2007
58,263,535.
90,582,196.
57,801,327.
4,681,418.
462,208.
53,140,938.
4,138,980.
21,732,416.
3,855,199.
6,520,561.
16,893,782.
69,304,316.
28,952,468.
40,351,848.
14,659,357.
0.0
14,659,357.
27,440,800.
9,528,077.
9,455,077.
73,000.
17,912,723.
-

(Thousand Rupees)
2008
2009
2010
2011
72,014,616. 92,147,060. 99,198,095. 115,079,932.
4,475,529.
7,065,725. 14,867,571.
106,983,528. 122,020,132. 126,701,027. 139,473,627.
71,057,604. 79,741,953. 81,276,519. 90,422,574.
4,670,296.
5,970,163.
5,960,799. 13,947,662.
957,012.
1,259,712.
1,749,492.
2,181,375.
4,056,255.
4,989,558.
5,800,727.
2,613,611.
4,116,801.
1,807,685.
62,306,422. 54,973,861. 57,708,550. 95,210,179.
3,176,889.
4,760,072.
6,390,993.
6,215,303.
28,517,439. 28,330,111. 27,472,658. 57,043,801.
6,348,583.
4,122,967.
4,600,336.
7,027,101.
5,682,571.
616,985.
804,921.
1,043,443.
18,580,940. 17,143,727. 18,439,642. 23,880,531.
80,265,311. 65,602,249. 68,909,614. 103,511,055.
32,869,478. 30,003,140. 30,244,671. 50,615,948.
47,395,833. 35,599,109. 38,664,942. 52,895,107.
21,199,784. 40,628,527. 37,655,178. 46,711,035.
17,229,410. 13,894,942. 20,160,218.
9,521,870. 11,173,538. 12,056,913.
0.0
0.0
392,818.
610,248.
1,037,904.
1,401,528.
21,199,784. 13,267,000. 11,155,976. 13,092,376.
32,855,943. 40,890,142. 50,341,852. 60,068,021.
9,900,358. 11,188,197. 12,434,606. 12,825,042.
9,822,575. 11,115,697. 12,434,106. 12,824,542.
77,783.
72,500.
500.
500.
22,955,585. 17,209,473. 22,483,646. 30,318,950.
2,790,807.
2,792,702.
2,725,170.
6,664,367. 19,684,070. 27,711,358.
12,492,472. 15,423,600. 16,924,029.

150,160,373.
142,614,873.
7,545,500.
123,173,540.
26,986,833.
17,926,813.
17,926,813.
5,292,621.
7,320,645.
2,388,852.
3,931,077.
181,771.
-

191,071,729.
175,067,233.
16,004,496.
154,742,139.
36,329,590.
22,208,245.
22,208,245.
6,533,330.
9,682,555.
3,389,531.
4,625,349.
227,790.
-

201,409,593.
187,301,966.
14,107,627.
154,792,675.
119,230,007.
35,562,668.
46,616,918.
25,685,292.
16,353,997.
9,331,295.
12,662,336.
8,808,479.
7,669,580.
15,100,986.
4,628,205.
4,981,054.
1,486,629.
22,865,090.

42,100,157.
0.0
1,000,716.
28,952,468.

54,055,727.
0.0
1,667,675.
32,869,478.

81,518,669.
17,229,410.
5,491,727.
47,232,549.

.21
3.52
2.57
1.35
.77
82.03

.19
3.42
3.32
1.42
.78
80.99

.14
4.37
2.05
1.37
.84
76.85

269,450,066.
251,676,281.
17,773,785.
216,785,696.
178,616,092.
38,169,603.
52,664,370.
27,087,181.
18,006,109.
9,081,072.
12,582,073.
7,693,650.
6,766,542.
19,598,319.
6,246,397.
9,631,837.
287,725.
23,477,157.

318,001,104.
292,065,710.
25,935,394.
253,350,230.
159,839,846.
93,510,385.
64,650,874.
33,131,934.
21,791,359.
11,340,575.
15,434,137.
10,210,746.
9,532,007.
23,836,794.
7,204,572.
10,665,557.
99,850.
10,758,164.

87,997,029. 106,779,056.
14,287,760. 20,160,218.
3,720,084.
5,966,666.
44,532,432. 70,776,166.
.17
2.86
1.71
1.72
.84
80.45

.14
3.21
2.21
1.51
.92
79.67

0.0

3.06
7.
27.99
18.18
1.25
6.91
-

3.09
7.88
32.12
20.14
1.36
6.7
-

4.88
0.0
5.24
29.16

5.07
0.0
6.52
34.04

2.6
10.73
40.95
22.28
2.1
7.11
2.97
7.5
.22
8.92
34.83

2.12
12.89
42.96
23.12
1.39
9.81
3.9
7.27
.22
10.56
39.82

2.5
12.98
43.18
24.48
1.56
5.57
3.5
7.5
.07
12.56
45.37

Growth with Composition of Assets & L

140
120
100

39.4%

80
60
40

Billion Rs

13.8%

20
0
Non-Current Assets
Current AssetsCurrent Liabilities
2010

Growth & Composition of Operations

350
300
250

15.3%

200
Billion Rs
100

150
50
0
Sales

Gross Profit

Profitability/Efficiency Ratios
45

42.9643.18

40
35
30
25
20

2010

2011
23.12 24.48
12.89 12.98

Percentage 15
10
5
0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

33.4%

19.4%

16.2% 15%

4,500.%
4,000.%
3,500.%
3,000.%
2,500.%
2,000.%
1,000.%
500.%
0.0%

Current Liabilities

Non-Current
Liabilities

2011

Shareholders Equity
Growth

of Operations
2010

2011

Growth
2,000.%

18.5%

17.8%
1,500.%

1,000.%
500.%
0.0%
Net Profit Before Tax

Key Performance Indicators

14

2010

12
10

2011

12.56

10.56
7.27 7.5

8
6
Percentage
4
2
0.84 0.92
0
Current
Ratio

181

2.12 2.50

Debt

Net

Earning

Equity
Ratio

Profit
Margin

Per Share
after Tax

SUGAR

Sugar - Overall
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
35,782,227.
55,646,640.
35,747,694.
2,023,025.
34,533.

28,812,832.
2,393,986.
9,326,593.
1,339,252.
6,245,930.
9,507,071.
36,493,886.
18,258,802.
18,235,084.
12,347,139.

12,495.
12,334,644.
15,754,034.
6,206,456.
6,206,456.
0.0
9,547,578.

65,845,227.
61,707,574.
4,137,653.
59,453,758.

6,391,469.
2,897,309.
2,897,309.
3,172,437.
1,503,757.
410,750.
261,213.
146,811.

28,101,173.
12,495.
831,794.
18,271,297.
.27
4.82
2.03
1.02
.79
90.29

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.1
2.52
10.39
5.76
4.18
7.06
2.28
0.0
1.68
24.23
184

Financial Statement Analysis of Non Financial Sector

2007
38,082,204.
59,934,342.
38,045,281.
2,798,550.
36,923.
32,600,834.
2,572,732.
11,426,669.
1,830,693.
5,836,578.
10,934,162.
41,571,082.
21,858,526.
19,712,556.
13,075,079.
0.0
13,075,079.
16,036,877.
6,942,986.
6,942,986.
0.0
9,093,891.
-

(Thousand Rupees)
2008
2009
2010
2011
46,934,891. 62,955,813. 65,701,458. 71,142,956.
2,267,019.
2,299,689.
6,276,641.
69,830,500. 81,824,318. 84,875,173. 89,416,623.
46,354,656. 55,311,782. 55,372,496. 58,546,548.
2,657,270.
3,505,108.
3,440,173. 10,906,164.
580,235.
627,470.
625,252.
616,550.
3,012,081.
3,807,000.
4,497,320.
1,737,461.
3,597,021.
1,205,897.
36,524,492. 30,557,215. 26,193,181. 53,775,359.
2,163,198.
2,819,664.
2,997,741.
3,131,220.
14,189,541. 13,867,462.
8,711,356. 31,898,835.
3,606,937.
1,575,721.
2,090,120.
3,533,012.
4,266,117.
554,071.
599,170.
853,463.
12,298,699. 11,740,298. 11,794,794. 14,358,829.
51,540,582. 40,710,129. 37,452,850. 60,659,625.
22,234,082. 25,121,344. 21,630,433. 34,910,395.
29,306,500. 15,588,785. 15,822,416. 25,749,230.
14,119,210. 30,538,461. 26,755,059. 31,756,291.
15,836,638. 12,587,404. 16,472,589.
5,250,895.
5,489,703.
5,856,711.
0.0
0.0
392,818.
283,188.
359,644.
386,032.
14,119,210.
9,167,741.
7,925,490.
9,040,959.
17,799,591. 22,264,435. 27,686,729. 32,502,399.
7,334,284.
8,488,374.
9,354,967.
9,700,915.
7,334,284.
8,487,874.
9,354,467.
9,700,415.
0.0
500.
500.
500.
10,465,307.
4,071,178.
5,779,087.
8,752,229.
2,066,288.
1,077,154.
1,003,094.
2,370,906.
4,701,934.
7,749,135.
9,704,883. 12,552,675. 14,049,255.

60,386,038.
55,880,221.
4,505,817.
56,780,852.
-

4,193,422.
4,896,627.
-581597
591,121.
343,417.
425,168.
223,586.
521,747.
135,072.
177,176.
-

84,625,662. 128,764,923. 144,802,964.

78,072,222. 120,571,488. 126,717,880.
6,553,440.
8,193,435. 18,085,084.
71,684,849. 114,829,068. 127,591,934.
56,567,129. 97,321,598. 60,522,362.
15,117,720. 17,507,469. 67,069,573.
12,940,813. 13,935,855. 17,211,030.
4,927,880.
4,594,553.
5,811,101.
819,566.
759,549.
1,187,236.
4,108,314.
3,835,004.
4,623,865.
5,682,380.
5,030,031.
5,941,857.
7,090,556.
6,156,267.
7,966,971.
6,923,362.
5,981,745.
7,639,365.
3,121,186.
4,227,737.
4,816,581.
840,644.
1,637,023.
2,186,017.
886,929.
1,043,479.
1,514,639.
176,842.
241,631.
47,239.
8,991,841.
9,815,817. -4573576

29,111,956. 31,918,801.
0.0
0.0
-1148600
-355794
21,858,526. 22,234,082.

52,802,896.
15,836,638.
1,393,613.
40,957,981.

54,441,787.
12,980,222.
1,547,234.
34,610,656.

64,258,690.
16,472,589.
1,115,925.
51,382,984.

.12
8.38
1.86
.9
.75
84.71

.15
4.78
1.62
1.4
.7
89.18

.12
5.5
2.44
1.16
.89
88.11

77,215,575.
64,701,917.
12,513,658.
68,784,238.
-

3,605,186.
3,058,297.
-

8,431,337.
4,370,926.
-

3,058,297.
-

2011

4,370,926.
-

.25
6.94
3.03
.85
.78
94.03

.19
6.34
4.67
.93
.71
89.08

0.0

3.41
-.86
-3.66
-2.03
-4.14
5.28
-

3.69
.77
3.49
1.94
.32
5.44
-

-.96
0.0
-1.24
21.58

.77
0.0
.22
23.13

3.2
3.53
15.58
7.37
2.57
6.1
1.45
3.69
.13
2.49
24.29

2.32
4.56
16.93
7.88
2.48
14.78
1.71
3.28
.15
2.55
27.27

2.84
4.44
16.
8.12
1.74
4.54
1.63
3.33
-.05
2.47
30.52

Growth with Composition of Assets & L

Billion Rs

80
70
51.3%
60
50
40
30
20
10
7.6%
0
Non-Current Assets
Current AssetsCurrent Liabilities
2010

Growth & Composition of Operations

160
140
120
100
11.1%
Billion Rs

80
60
40
20
0
Sales

Gross Profit

Profitability/Efficiency Ratios
18
16
14
12
10
8
Percentage 6
4
2
0

2010

16.93 16

2011

7.888.12
4.56 4.44

Return on Return on Return on

Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

6,000.%
5,000.%
4,000.%
3,000.%
2,000.%

38.3%

15.7%

14.8%
1,000.%
0.0%

Non-Current

Shareholders Equity
Liabilities

2011

Growth

of Operations
2010

2011

Growth
2,000.%

19.%
1,500.%
12.2%
1,000.%
500.%
0.0%
Net Profit Before Tax

Key Performance Indicators

2010
3.5

3.283.33
2011

2.84
2.32

2.55 2.47

2.5
2
1.5
Percentage
1
0.5
0
Current
Ratio

185

.89
.7

Debt

Net

Earning

Equity
Ratio

Profit
Margin

Per Share
after Tax

Abdullah Shah Ghazi Sugar Mills Ltd.(Al-Asif Sugar Mills Ltd

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
393,173.
774,018.
393,173.
20,858.
0.0
116,480.
2,991.
0.0
0.0
0.0
113,489.
1,205,359.
0.0
1,205,359.
0.0
0.0
0.0
-695706
146,667.
146,667.
0.0
-842373
106,793.
106,793.
0.0
132,678.
-25885
9,653.
9,653.
97.
-33153
464.
0.0
0.0
-695706
0.0
-33617
0.0
0.0
.09
0.0
.21
.1
124.24

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
186

-1.73
-6.25
4.86
5.28

-31.04
0.0
-2.29
-47.43

2011

Financial Statement Analysis of Non Financial Sector

2007
384,382.
785,167.
384,382.
19,941.
0.0
74,773.
842.
0.0
0.0
0.0
73,931.
1,179,037.
3,010.
1,176,027.
0.0
0.0
0.0
-719882
146,667.
146,667.
0.0
-866549
-

2008
395,322.
815,721.
395,322.
20,462.
0.0
91,092.
11,165.
0.0
0.0
0.0
79,927.
1,065,446.
0.0
1,065,446.
0.0
0.0
0.0
-579032
146,667.
146,667.
0.0
-725699
-

123,560.
123,560.
0.0
141,774.

198,914.
198,914.
0.0
156,737.

-18214

42,177.
18,886.

7,767.
-

7,767.

18,886.
-

115.
-26096

13,904.
138,554.
0.0
0.0
0.0

537.
0.0
0.0
-

-719882

-579032

(Thousand Rupees)
2009
2010
573,619.
752,031.
220,908.
391,222.
793,815.
819,304.
351,657.
356,155.
21,759.
20,991.
0.0
0.0
1,055.
4,654.
336,523.
586,848.
59,921.
95,178.
109,737.
274,773.
0.0
0.0
166,865.
216,896.
274,863.
584,345.
0.0
379,924.
274,863.
204,421.
1,120,104.
551,663.
0.0
20,068.
435,551.
509,882.
0.0
0.0
3,263.
684,553.
18,450.
-484825
202,871.
146,667.
792,617.
146,667.
792,617.
0.0
-695878
-650314
0.0
-695878
-650314
64,386.
60,568.
728,138.
1,249,555.
728,138.
1,249,555.
0.0
560,525.
1,112,092.
478,176.
997,538.
82,349.
114,554.
167,613.
137,463.
31,473.
30,329.
0.0
954.
31,473.
29,375.
16,712.
13,820.
40,495.
78,401.
39,355.
73,149.
95,645.
38,085.
3,641.
12,496.
0.0
0.0
131,186. -218333

2011
876,444.
532,742.
822,505.
338,767.
20,589.
0.0
0.0

0.0
0.0

0.0
0.0
4,935.
958,891.
16,313.
667,199.
3,993.
0.0
271,386.
1,053,983.
726,856.
327,127.
569,504.
18,596.
531,593.

0.0

0.0
3,177.
16,138.
211,848.
792,616.
792,616.

0.0

0.0
-637770

0.0

0.0
-637770
57,002.
1,263,144.
1,263,144.

0.0

0.0
1,078,194.
9,547.
1,068,647.
184,950.
27,356.
1,060.
26,296.
73,394.
142,015.
154,230.
19,449.
10,472.

0.0
0.0

0.0
0.0
279,323.

3,010.

0.0
138,554.
0.0

635,279.
0.0
92,005.
0.0

754,534.
20,068.
25,590.
399,992.

781,352.
18,596.
8,977.
745,452.

0.0
.09
0.0
.27
.06
114.74

.01
6.99
0.0
.41
.09
78.8

.22
5.56
0.0
.8
1.22
76.98

.16
6.27
0.0
.93
1.
89.

.02
11.24
.32
.69
.91
85.36

0.0
-26633

-1.64
-5.39
3.69
3.69
-

-1.84
29.31
-21.33
-21.33
-

-21.12
0.0
-1.82
-49.08

-2.88
13.7
-17.98
340.09

5.6
3.39
-27.02
5.48

6.64
3.43
13.14
.09
6.27
-33.06

4.55
1.52
3.05
-.19
.32
2.56

69.66
0.0
9.45
-39.48

7.66
1.23
9.38
2.53
-

1.89
1.13
1.54
.17
.11
2.67

Adam Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
753,498.
1,000,279.
753,498.
40,327.
0.0

407,203.
18,684.
289,612.
2,698.
0.0
96,209.
495,249.
169,420.
325,829.
18,411.

0.0
18,411.
647,041.
57,636.
57,636.
0.0
589,405.

901,844.
901,844.
0.0
868,831.

33,013.
28,424.
28,424.
30,498.
41,754.
0.0
0.0

665,452.
0.0
41,754.
169,420.
.04
3.38
.3
.78
.82
96.34

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.79
4.65
10.61
9.96
3.11
4.63
0.0
7.24
112.26
187

Financial Statement Analysis of Non Financial Sector

2007
742,762.
1,027,862.
742,762.
38,712.
0.0
397,393.
21,335.
267,296.
0.0
0.0
108,762.
710,484.
236,410.
474,074.
23,758.
0.0
23,758.
405,913.
57,636.
57,636.
0.0
348,277.
-

(Thousand Rupees)
2008
2009
2010
2011
800,512.
847,794.
828,315.
837,466.
0.0
1,772.
5,428.
1,124,660.
1,210,293.
1,232,819.
1,284,016.
800,512.
846,517.
824,398.
831,331.
39,046.
41,508.
44,644.
44,535.
0.0
0.0
867.
667.
0.0
0.0
1,277.
1,277.
40.
517,886.
425,013.
350,467.
527,671.
46,142.
55,102.
34,085.
121,854.
173,825.
284,680.
8,449.
238,984.
197,562.
0.0
222,549.
40,743.
0.0
0.0
0.0
100,357.
85,232.
85,384.
126,090.
560,031.
302,494.
123,422.
293,958.
348,143.
69,329.
20,156.
19,990.
211,888.
233,165.
103,266.
273,968.
313,940.
503,693.
501,708.
485,008.
55,288.
34,657.
14,667.
239,324.
239,324.
0.0
0.0
0.0
0.0
0.0
313,940.
209,081.
227,727.
470,341.
444,427.
466,620.
553,652.
586,171.
57,637.
57,637.
57,637.
57,637.
57,637.
57,637.
57,637.
57,637.
0.0
0.0
0.0
386,790.
128,352.
228,038.
272,538.
0.0
0.0
128,352.
228,038.
272,538.
280,632.
267,977.
255,996.

604,741.
604,741.
0.0
728,633.
-

-123892
24,830.
24,830.
25,900.
-172686
2,642.
0.0
0.0
-

2011

1,042,279.
1,017,860.
24,419.
904,084.
138,195.
35,195.
35,195.
41,604.
63,392.
261.
0.0
0.0
-

1,156,966.
1,156,966.
0.0
887,465.
690,303.
197,161.
269,502.
48,500.
1,178.
47,322.
19,039.
57,821.
56,715.
184,915.
5,785.
5,764.
0.0
283,908.

2,138,541.
2,138,541.
0.0
1,920,021.
1,495,508.
424,513.
218,520.
44,056.
1,066.
42,990.
18,388.
46,594.
45,280.
133,707.
34,043.
14,409.
0.0
174,085.

2,440,693.
2,440,693.

0.0

0.0

0.0
0.0
0.0

0.0
0.0

0.0
2,231,511.
2,206,797.
24,714.
209,182.
46,223.
2,271.
43,952.
82,487.
97,225.
92,909.
74,701.
27,774.
14,409.
0.0
63,037.

429,671.
0.0
-175328
236,410.

758,367.
0.0
63,131.
348,143.

970,313.
55,288.
173,366.
124,616.

1,055,360.
34,657.
85,254.
54,813.

1,071,179.
14,667.
32,518.
34,657.

.03
4.28
0.0
.53
.56
120.49

.44
3.99
18.95
.79
.92
86.74

.18
5.
0.0
.91
1.41
76.71

2.08
2.18
10.41
1.81
2.84
89.78

.55
3.98
1.67
1.79
1.8
91.43

1.81
-15.01
-32.8
-31.54
-

1.97
5.16
14.91
10.67
-

2.26
-

6.
-

-28.56
0.0
-30.42
70.43

6.08
0.0
10.95
77.11

1.73
14.27
40.59
21.39
31.08
4.06
4.26
15.98
.35
31.08
80.96

1.13
10.91
26.21
13.2
6.92
253.11
3.95
6.25
.28
17.29
96.06

1.33
5.87
13.11
7.03
3.26
10.21
1.8
3.06
.08
8.14
101.7

Al-Abbas Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
843,213.
1,388,597.
843,113.
68,212.
100.

835,332.
10,907.
612,481.
43,686.
0.0
168,258.
932,956.
530,118.
402,838.
93,182.

0.0
93,182.
652,407.
173,623.
173,623.
0.0
478,784.

2,514,380.
1,702,744.
811,636.
2,316,212.

198,168.
99,075.
99,075.
72,310.
31,655.
11,705.
0.0
0.0

745,589.
0.0
19,950.
530,118.
.06
2.88
1.74
1.5
.9
92.12

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.57
1.88
4.56
4.27
4.11
1.26
0.0
1.15
37.58
188

Financial Statement Analysis of Non Financial Sector

2007
803,884.
1,429,910.
803,884.
63,347.
0.0
659,198.
32,378.
300,953.
121,125.
30,750.
173,992.
719,556.
353,549.
366,007.
18,637.
0.0
18,637.
724,889.
173,623.
173,623.
0.0
551,266.
-

(Thousand Rupees)
2008
2009
2010
2011
2,082,835.
2,376,551.
2,066,027.
2,038,018.
65,910.
149,049.
168,810.
2,855,262.
3,163,910.
2,864,195.
2,951,901.
2,082,835.
2,249,724.
1,860,428.
1,830,364.
120,517.
145,233.
123,173.
119,652.
0.0
16,358.
10,768.
613.
28,629.
14,502.
9,114.
15,930.
31,280.
29,117.
1,685,877.
1,356,024.
1,972,857.
3,291,037.
48,417.
12,504.
29,613.
18,179.
1,036,195.
813,761.
991,194.
2,430,743.
37,997.
208,254.
343,043.
487,536.
46,432.
19,500.
11,550.
10,000.
516,836.
302,005.
597,457.
344,579.
1,820,627.
1,356,169.
2,094,842.
3,466,109.
653,603.
688,035.
1,077,504.
1,768,674.
1,167,024.
668,134.
1,017,338.
1,697,435.
1,078,295.
1,250,780.
697,141.
481,382.
874,974.
260,820.
433,791.
301,346.
0.0
0.0
0.0
0.0
392,818.
0.0
0.0
0.0
0.0
1,078,295.
74,460.
43,503.
47,591.
869,790.
1,125,626.
1,246,901.
1,381,564.
173,623.
173,623.
173,623.
173,623.
173,623.
173,623.
173,623.
173,623.
0.0
0.0
0.0
0.0
696,167.
952,003.
1,073,278.
1,207,941.
952,003.
0.0
0.0
0.0
1,073,278.
1,207,941.
0.0
0.0
0.0

2,842,348.
1,387,822.
1,454,526.
2,590,847.
-

2,931,151.
1,476,625.
1,454,526.
2,719,120.
-

251,501.
160,913.
-

212,031.
162,126.
-

160,913.
-

162,126.
-

83,784.

104,951.
-

173,336.
13,369.
0.0
0.0
-

2011

104,333.
45,188.
26,043.
0.0
-

4,166,922.
2,517,660.
1,649,262.
3,381,353.
2,864,326.
517,027.
785,569.
212,022.
86,486.
125,536.
48,261.
271,735.
264,829.
337,120.
20,983.
69,449.
0.0
627,689.

6,352,884.
3,903,418.
2,449,466.
5,596,237.
5,232,426.
363,811.
756,647.
248,614.
105,561.
143,053.
46,369.
294,245.
287,289.
276,059.
63,791.
86,812.
0.0
303,131.

6,217,989.
3,363,275.
2,854,714.
5,280,399.
40,734.
5,239,665.
937,590.
292,987.
93,289.
199,698.
239,922.
356,946.
349,035.
324,463.
71,657.
86,812.
0.0
531,453.

743,526.
0.0
159,967.
353,549.

1,948,085.
0.0
33,102.
653,603.

2,376,406.
874,974.
246,688.
1,563,009.

1,944,042.
653,638.
125,457.
1,731,142.

1,862,946.
433,791.
165,995.
2,202,465.

.26
2.95
4.26
1.94
.92
91.15

.07
3.58
1.3
.78
.93
92.77

.18
6.52
5.
1.12
1.
81.15

.18
4.63
5.4
1.57
.94
88.09

.15
5.74
7.84
1.17
.95
84.92

1.02
11.03
25.17
23.28
-

3.33
3.99
13.09
7.75
2.27
2.83

9.44

6.1
0.0
9.21
41.75

3.56
0.0
3.41
50.1

2.32
8.99
33.79
15.59
4.55
5.12
2.27
8.09
.24
18.21
64.83

2.24
7.1
23.27
12.78
2.45
6.41
1.96
4.35
.11
12.23
71.82

2.86
6.93
24.69
17.05
2.91
2.56
1.93
5.22
.13
14.56
79.57

Al-Noor Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,472,955.
2,513,005.
1,472,955.
109,311.
0.0

600,705.
48,694.
230,809.
43,166.
8,607.
269,429.
1,005,591.
502,948.
502,643.
145,038.

0.0
145,038.
923,031.
185,703.
185,703.
0.0
737,328.

3,058,073.
2,764,073.
294,000.
2,642,766.

415,307.
119,600.
119,600.
125,693.
182,154.
14,188.
0.0
0.0

1,068,069.
0.0
167,966.
502,948.
.1
4.11
1.41
1.47
.6
86.42

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.25
8.54
20.85
17.2
13.25
5.96
0.0
9.04
49.7
189

Financial Statement Analysis of Non Financial Sector

2007
1,527,982.
2,680,866.
1,527,982.
113,739.
0.0
810,082.
47,597.
393,723.
144,861.
10,263.
213,638.
1,074,601.
389,634.
684,967.
395,840.
0.0
395,840.
867,623.
185,703.
185,703.
0.0
681,920.
-

(Thousand Rupees)
2008
2009
2010
2011
2,264,422.
2,480,127.
2,835,275.
3,040,601.
111,297.
164,615.
18,336.
3,345,655.
3,655,933.
4,143,691.
4,639,945.
2,264,422.
2,216,624.
2,517,327.
2,817,445.
116,012.
169,562.
187,573.
217,339.
0.0
0.0
0.0
0.0
143,772.
144,169.
157,413.
8,434.
9,164.
47,407.
1,511,304.
1,322,595.
1,389,425.
2,850,409.
86,263.
107,769.
140,429.
43,316.
1,009,052.
963,870.
965,121.
2,422,829.
11,314.
0.0
0.0
7,843.
37,751.
0.0
0.0
0.0
366,924.
250,956.
283,875.
376,421.
2,037,889.
1,283,079.
1,431,018.
3,142,284.
986,492.
855,132.
718,032.
2,059,582.
1,051,397.
427,947.
712,986.
1,082,702.
265,761.
877,137.
970,364.
911,544.
357,994.
407,445.
457,449.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
27,622.
0.0
0.0
265,761.
491,521.
562,919.
454,095.
1,472,076.
1,642,506.
1,823,318.
1,837,182.
185,703.
185,703.
185,703.
185,703.
185,703.
185,703.
185,703.
185,703.
0.0
0.0
0.0
0.0
1,286,373.
691,371.
928,848.
987,599.
0.0
0.0
0.0
0.0
928,848.
987,599.
765,432.
708,767.
663,880.

2,722,384.
2,470,991.
251,393.
2,395,181.
-

3,145,250.
2,521,130.
624,120.
2,582,319.
-

327,203.
131,707.
-

562,931.
237,314.
-

131,707.
-

237,314.
-

162,456.

182,298.
-

39,759.
12,824.
30,000.
0.0
-

2011

244,243.
11,290.
55,711.
0.0
-

4,249,981.
3,630,845.
619,136.
3,567,029.
3,259,831.
307,198.
682,952.
206,752.
14,592.
192,160.
76,738.
289,102.
281,128.
210,749.
35,024.
74,281.
0.0
231,521.

6,313,220.
5,467,635.
845,585.
5,311,417.
4,596,402.
715,015.
1,001,803.
290,141.
18,393.
271,748.
137,746.
329,899.
323,594.
391,453.
66,277.
92,852.
0.0
532,050.

2,793,682.
2,748,726.
407,445.
457,449.
232,325. -59315
1,125,477.
2,517,031.

1,263,463.
0.0
-3065
389,634.

1,737,837.
0.0
177,242.
986,492.

2,519,643.
357,994.
101,444.
1,213,126.

.19
5.97
5.32
1.16
.75
87.98

.07
5.8
.36
.83
.74
82.1

.08
6.8
0.0
1.12
1.03
83.93

.1
5.23
0.0
1.49
.97
84.13

5,983,046.
4,616,565.
1,366,481.
5,246,478.
25,335.
5,221,143.
736,568.
305,297.
16,882.
288,415.
250,008.
412,252.
404,771.
59,875.
63,479.
55,711.
0.0
295,731.

.02
6.89
.13
1.02
.91
87.69

1.69
1.8
4.44
3.41
.9
6.91

1.56
7.99
20.88
16.28
4.18
3.12
-

1.46
0.0
1.45
46.72

7.77
0.0
12.54
79.27

1.32
5.56
13.53
9.9
2.37
4.41
1.75
4.96
.11
9.46
88.45

1.32
9.75
22.59
14.73
3.5
6.54
2.21
6.2
.22
17.51
98.18

2.21
1.18
3.27
2.16
-.06
2.47
1.15
1.
.07
-.19
98.93

Ansari Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
768,342.
1,326,538.
768,342.
44,429.
0.0

379,008.
123,603.
130,761.
7,029.
0.0
117,615.
622,556.
232,180.
390,376.
448,484.

0.0
448,484.
76,310.
244,071.
244,071.
0.0
-167761

1,574,714.
1,574,714.
0.0
1,372,513.

202,201.
54,280.
54,280.
13,468.
135,064.
6,843.
0.0
0.0

524,794.
0.0
128,221.
232,180.
.21
.86
.45
1.37
.61
87.16

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

14.04
12.46
578.72
27.49
12.04
8.58
0.0
5.25
3.13
190

Financial Statement Analysis of Non Financial Sector

2007
730,194.
1,329,270.
730,194.
42,663.
0.0
330,852.
16,354.
104,602.
80,120.
0.0
129,776.
657,688.
264,675.
393,013.
406,307.
0.0
406,307.
-2949
244,072.
244,072.
0.0
-247021
-

(Thousand Rupees)
2008
2009
2010
2011
730,194.
1,399,558.
2,165,257.
2,095,081.
0.0
3,215.
7,278.
1,329,270.
1,943,220.
2,849,784.
2,854,343.
730,194.
1,266,002.
2,079,686.
1,990,728.
42,663.
45,202.
90,035.
99,491.
0.0
0.0
0.0
0.0
75,093.
81,626.
96,328.
58,463.
730.
747.
330,852.
704,106.
659,865.
1,915,465.
16,354.
13,824.
8,410.
3,711.
104,602.
357,304.
285,804.
1,347,518.
80,120.
158,294.
93,548.
163,762.
0.0
0.0
0.0
0.0
129,776.
174,684.
272,104.
400,474.
657,688.
366,682.
574,275.
1,991,306.
264,675.
242,882.
474,812.
1,805,590.
393,013.
123,800.
99,463.
185,716.
406,307.
1,276,185.
1,338,452.
1,265,972.
779,151.
826,551.
777,587.
142,172.
162,172.
217,172.
0.0
0.0
0.0
0.0
5,889.
5,968.
7,106.
406,307.
348,974.
343,761.
264,107.
-2949
460,797.
912,395.
753,268.
244,072.
244,072.
244,071.
244,072.
244,072.
244,072.
244,071.
244,072.
0.0
0.0
0.0
0.0
-247021
216,725.
136,882. -4170
0.0
0.0
0.0
216,725.
136,882. -4170
0.0
531,442.
513,366.

1,580,281.
1,580,281.
0.0
1,584,764.

12,907.
12,907.
-72391
-72391
6,869.
6,869.
0.0
0.0
0.0
0.0
-

1,269,457.
2,635,631.
1,927,676.
1,269,457.
2,635,631.
1,927,676.
0.0
0.0
0.0
1,166,379.
2,627,679.
1,753,161.
1,278,609.
2,558,391.
40,069.
-112229
69,288.
1,713,092.
103,078.
7,952.
174,515.
55,792.
51,184.
71,315.
2,079.
2,522.
3,982.
53,712.
48,662.
67,333.
89,198.
88,769.
80,070.
71,295.
131,553.
300,260.
70,371.
130,603.
298,352.
-181582
464,833. -168226
6,347.
26,356.
21,171.
0.0
0.0
0.0
0.0
0.0
0.0
-304480
-96642
-1291802

403,358.
403,358.
0.0
0.0
-79260
-79260
264,675.
264,675.

1,736,982.
2,250,847.
2,019,240.
779,151.
826,551.
777,587.
-202753
458,486. -194583
1,022,033.
1,301,363.
2,583,177.

-4483

1,580,281.
1,580,281.
0.0
1,584,764.
-4483

56,651.

56,651.
-

56,651.

2011

56,651.
-

.15
.82
5.07
1.49
.5
100.28

.15
.82
5.07
1.49
.5
100.28

.47
5.62
12.47
.6
1.92
91.88

.18
4.99
3.55
.93
1.15
99.7

.08
15.58
8.5
.48
.96
90.95

-360.8
-6.56
-197.36
-15.6
-

-360.8
-6.82
2,454.76
-17.95
-

15.11
-

2.1
-6.83
-24.5
-8.44

3.55
7.61
36.62
-.19
18.78
18.88

9.22
-.29
-6.38
-.05
-7.97
37.38

15.11

-4.58
0.0
-3.25
-.12

3.57
29.38
203.05
43.44

-4.58
0.0
-3.25
-.12

4.32
-5.31
-21.8
-8.5
-

1.43
.39
-9.42
-.4
-8.31
30.86

Baba Farid Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
341,093.
772,123.
341,093.
11,448.
0.0

464,821.
79,006.
238,426.
1,991.
0.0
145,398.
586,758.
362,602.
224,156.
134,892.

0.0
134,892.
84,264.
94,500.
94,500.
0.0
-10236

947,795.
947,795.
0.0
846,692.

101,103.
43,187.
43,187.
82,854.
-20732
4,400.
0.0
0.0

219,156.
0.0
-25132
362,602.
.14
8.74
.21
1.18
.79
89.33

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

8.56
-2.53
-55.23
-10.26
3.98
-2.19
0.0
-2.66
8.92
191

Financial Statement Analysis of Non Financial Sector

2007
360,569.
803,808.
360,569.
12,210.
0.0
592,573.
71,425.
406,537.
1,189.
0.0
113,422.
873,840.
627,787.
246,053.
148,787.
0.0
148,787.
-69485
94,500.
94,500.
0.0
-163985
-

(Thousand Rupees)
2008
2009
2010
2011
1,132,697.
1,104,668.
1,047,776.
1,938,356.
4,338.
0.0
1,589,050.
1,584,375.
1,589,299.
2,527,903.
1,132,697.
1,075,010.
1,026,556.
1,917,136.
13,114.
53,011.
52,855.
49,698.
0.0
0.0
0.0
0.0
0.0
25,320.
21,220.
21,220.
155,680.
111,586.
120,245.
1,007,973.
29,413.
7,925.
2,098.
2,733.
6,525.
4,185.
9,752.
748,020.
663.
191.
0.0
167,515.
0.0
0.0
0.0
119,079.
99,285.
108,395.
89,705.
605,095.
346,911.
197,048.
1,265,053.
57,006.
38,674.
50,237.
35,632.
548,089.
308,237.
146,811.
1,229,421.
210,636.
502,616.
921,138.
1,018,963.
167,621.
113,132.
45,000.
143,400.
612,089.
675,000.
0.0
0.0
0.0
0.0
0.0
210,636.
191,596.
195,917.
298,963.
472,646.
366,727.
49,835.
662,313.
94,500.
94,500.
94,500.
94,500.
94,500.
94,500.
94,500.
94,500.
0.0
0.0
0.0
-616117
-817020
378,146. -322859
0.0
0.0
-817020
0.0 -616117
595,086.
571,452.
1,384,833.

588,743.
588,743.
0.0
585,960.
-

1,308,397.
1,308,397.
0.0
1,251,456.
-

2,783.
45,732.
-

56,941.
45,967.
-

45,732.
-

2011

45,967.
-

96,656.
63,638.
-139060
-26171
3,226.
0.0
0.0
0.0
0.0
0.0
-

579,326.
657,510.
950,031.
579,326.
657,510.
950,031.
0.0
0.0
606,222.
853,586.
848,162.
519,097.
733,985.
1,558,904.
87,125.
119,601. -710742
-26896
-196076
101,869.
50,629.
58,994.
55,789.
2,332.
3,000.
4,262.
48,298.
55,994.
51,527.
30,029.
67,601.
63,315.
39,036.
59,021.
238,006.
38,961.
58,756.
237,817.
-129547
-305597
-191767
3,085.
6,973.
11,258.
0.0
0.0
0.0
0.0
-109508
44,939. -444064

79,302.
683,282.
869,343.
970,973.
1,681,276.
0.0
0.0
167,621.
113,132.
45,000.
-142286
-26171
-132632
-312571
-203025
627,787.
57,006.
206,295.
163,369.
80,632.
.08
16.42
.2
.62
.68
99.53

.05
4.86
.05
1.02
.26
95.65

.02
6.74
.03
.48
.32
104.64

.01
8.98
0.0
.56
.61
129.82

.13
25.05
17.63
.32
.8
89.28

0.0

0.0
0.0

0.0

0.0
0.0

0.0
0.0

0.0

0.0
0.0

-14.72
-15.81
-1,881.86
-93.19
-

1.73
-2.34
-12.98
-6.86
-

1.45
-

200.52

-23.62
0.0
-15.06
-7.35

2.32
-10.34
-30.87
-16.69

-2.
0.0
-2.77
50.02

22.44
-25.63
-146.72
-33.21

3.45
-9.32
-53.86
-14.46

67.42
-4.2
-46.48
-.4
-33.08
5.27

1.27
.19
-20.19
-.05
-21.48
70.09

138.43
-2.33
-22.36
.05
-14.04
38.81

Bawany Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
246,594.
786,090.
246,594.
24,405.
0.0
131,215.
4,865.
0.0
0.0
0.0
126,350.
704,679.
27,852.
676,827.
407,494.
0.0
407,494.
-734364
87,246.
87,246.
0.0
-821610
179,381.
179,381.
0.0
223,827.
-44446
6,802.
6,802.
10,266.
-32541
780.
0.0
0.0
-326870
0.0
-33321
27,852.
.01
5.72
0.0
.47
.19
124.78

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
192

-1.51
-7.86
4.53
15.01

-18.14
0.0
-3.82
-84.17

Financial Statement Analysis of Non Financial Sector

2007
225,517.
787,164.
225,517.
22,350.
0.0
105,850.
2,228.
0.0
56,261.
0.0
47,361.
410,871.
10,850.
400,021.
697,559.
0.0
697,559.
-777063
87,246.
87,246.
0.0
-864309
-

(Thousand Rupees)
2008
2009
2010
222,627.
202,137.
202,704.
0.0
0.0
807,166.
807,166.
827,627.
222,627.
201,130.
201,697.
22,892.
21,498.
19,893.
0.0
0.0
0.0
0.0
0.0
1,007.
1,007.
117,731.
93,967.
104,066.
4,799.
602.
1,496.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
112,932.
93,365.
102,570.
555,401.
636,927.
256,481.
148,500.
155,000.
87,500.
406,901.
481,927.
168,981.
531,255.
303,959.
830,428.
303,959.
815,524.
0.0
0.0
0.0
0.0
0.0
0.0
4,558.
531,255.
0.0
10,346.
-746298
-644782
-780139
87,246.
87,246.
87,246.
87,246.
87,246.
87,246.
0.0
0.0
0.0
-833544
-732028
-867385
0.0
0.0
2,500. -867385
0.0
0.0

177,287.
177,287.
0.0
211,243.
-33956

291,228.
291,228.
0.0
258,593.
32,635.
7,891.

8,035.
-

8,035.

7,891.
-

217.
-41812

375.
30,764.
0.0
0.0
0.0

886.
0.0
0.0
-

-79504

-215043
0.0

-42698
10,850.

0.0
30,764.
148,500.

.14
.12
31.73
.54
.26
119.15

.01
.13
0.0
.86
.21
88.79

2011

2011
285,408.
97,547.
833,643.
186,854.
20,859.
0.0
0.0
1,007.
1,001,880.
1,150.
488,728.
38,989.
0.0
473,013.
1,121,971.
794,040.
327,931.
1,185,984.
801,682.
369,398.
0.0
4,558.
10,346.
-1020667
87,246.
87,246.
0.0
-1107913
0.0
-1107913
0.0

57,991.
100,335.
57,991.
100,335.
0.0
0.0
148,772.
151,678.
0.0
0.0
148,772.
151,678.
-90781
-51343
12,169.
3,763.
0.0
0.0
12,169.
3,763.
1,066,597.
387.
944.
79,603.
0.0
79,209.
101,806. -134354
290.
1,003.
0.0
0.0
0.0
0.0
216,844. -379557

1,185,651.
1,185,651.
0.0
1,206,125.
0.0
1,206,125.
-20474
34,327.
4,473.
29,854.
86,066.
195,285.
191,907.
-240528
0.0
0.0
0.0
-828187

-340824
50,289.
303,959.
815,524.
101,516. -135357
458,959.
903,024.

165,317.
801,682.
-240528
1,595,722.

0.0
1.63
0.0
.2
.15
256.54

.01
79.34
0.0
.33
.41
151.17

.04
16.47
3.29
.92
.89
101.73

-1.43
-11.79
5.53
20.58
-

-1.46
9.16
-4.04
-20.89
-

-23.58
0.0
-4.89
-89.07

-1.46
31.99
-14.64
-36.63
-

10.56
0.0
3.53
-85.54

-1.39
-44.57
18.86
92.49
-

175.56
.23
11.64
-73.9

-2.26
-30.18
26.71
-223.12
-

-.7
-133.9
-.35
-15.51
-89.42

2.43
-.25
-20.29
-.36
-27.57
-116.99

Chashma Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,802,763.
2,560,717.
1,801,449.
90,990.
1,314.

619,343.
102,471.
263,302.
58,147.
0.0
195,423.
687,348.
504,554.
182,794.
1,248,519.

0.0
1,248,519.
486,239.
191,280.
191,280.
0.0
294,959.

1,360,839.
1,322,940.
37,899.
1,305,515.

55,324.
42,996.
42,996.
86,418.
-58326
5,955.
0.0
0.0

1,734,758.
0.0
-64281
504,554.
.23
6.35
4.27
.56
.9
95.93

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.98
-3.02
-11.39
-4.4
5.17
-4.29
0.0
-3.36
25.42
193

Financial Statement Analysis of Non Financial Sector

2007
1,902,232.
2,851,909.
1,901,957.
177,529.
275.
1,558,412.
42,590.
1,131,242.
149,587.
0.0
234,993.
2,382,897.
2,097,049.
285,848.
949,515.
0.0
949,515.
128,232.
191,280.
191,280.
0.0
-63048
-

(Thousand Rupees)
2008
2009
2010
2011
2,720,363.
2,519,639.
2,339,038.
3,103,002.
45,813.
2,463.
76,218.
3,123,629.
3,110,938.
3,209,692.
3,245,571.
2,719,576.
2,450,768.
2,313,897.
2,993,020.
227,521.
257,133.
236,640.
219,657.
787.
900.
253.
200.
0.0
0.0
0.0
22,158.
22,425.
33,564.
1,788,876.
1,015,823.
636,060.
2,544,179.
46,318.
20,971.
45,797.
65,127.
1,438,063.
701,368.
256,658.
1,969,291.
19,373.
54,007.
79,534.
38,732.
0.0
0.0
26,608.
179,040.
285,122.
239,477.
227,463.
291,989.
2,462,495.
1,405,275.
731,639.
2,644,522.
1,582,504.
961,725.
233,334.
2,153,466.
879,991.
443,550.
498,305.
491,056.
928,333.
1,485,416.
1,289,321.
1,357,532.
1,229,686.
1,059,164.
848,707.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
928,333.
255,730.
230,157.
508,825.
1,118,411.
644,771.
954,138.
1,645,127.
286,920.
286,920.
286,920.
286,920.
286,920.
286,920.
286,920.
286,920.
0.0
0.0
0.0
0.0
831,491. -220208
136,652.
291,313.
0.0
0.0
0.0
-220208
136,652.
291,313.
578,059.
530,566.
1,066,894.

1,896,549.
1,896,549.
0.0
1,967,584.
-

-71035
57,076.
57,076.
252,210.
-377451
8,220.
0.0
0.0
-

2,858,929.
2,093,306.
765,623.
2,512,915.
346,014.
75,671.
75,671.
338,761.
-57172
8,447.
0.0
0.0
-

3,968,673.
3,968,673.
0.0
3,595,629.
2,345,472.
1,250,157.
373,044.
87,629.
15,518.
72,111.
176,107.
438,721.
434,622.
-140786
19,912.
0.0
0.0
1,293,854.

1,077,747.
2,046,744.
2,130,187.
0.0
0.0
1,229,686.
-385671
-65619
-160698
2,097,049.
1,582,504.
2,191,411.
.08
13.3
7.89
.55
.65
103.75

2011

.03
11.85
.68
.63
.73
87.9

.05
11.05
1.36
1.12
.72
90.6

6,362,700.
5,882,738.
6,362,700.
5,882,738.
0.0
0.0
5,597,467.
5,186,437.
4,620,036.
79,684.
977,431.
5,106,753.
765,233.
696,301.
124,277.
124,237.
14,251.
13,154.
110,026.
111,083.
245,956.
231,976.
300,141.
446,734.
297,573.
442,767.
347,799.
165,491.
63,664.
58,844.
28,692.
28,692.
0.0
0.0
1,354,669. -1024070
2,243,459.
1,059,164.
255,443.
1,292,498.

3,002,659.
848,707.
77,955.
3,002,173.

.21
4.72
1.25
2.14
.87
87.97

.11
7.59
.66
1.04
.96
88.16

25.99
-12.83
-122.85
-26.84
-

3.03
-1.43
-9.17
-3.66
-

1.68
-

1.99

-19.9
0.0
-20.16
6.7

4.48
-3.5
-15.97
-6.74

-2.
0.0
-2.29
38.98

5.66
.68
-3.55
.45
-5.6
22.47

2.12
10.68
43.5
15.9
9.9
24.79
2.17
5.47
.67
9.9
33.25

2.43
3.84
12.73
6.31
3.72
2.99
1.37
2.81
-.26
3.72
57.34

Colony Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

194

Financial Statement Analysis of Non Financial Sector

2011

(Thousand Rupees)
2009
2010
2011
3,344,118.
3,343,051.
3,515,925.
216,030.
320,891.
0.0
3,425,941.
3,467,256.
4,122,850.
3,128,088.
3,022,160.
3,515,925.
153,592.
147,243.
161,828.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1,491,214.
1,391,773.
1,570,969.
25,662.
37,576.
16,959.
1,064,542.
827,489.
896,981.
0.0
143,247.
324,547.
0.0
0.0
0.0
401,010.
383,461.
332,482.
1,983,804.
2,050,349.
2,446,480.
1,153,084.
1,330,254.
1,762,602.
830,720.
720,095.
683,878.
1,510,347.
1,225,243.
1,115,471.
1,485,362.
1,211,835.
1,097,528.
0.0
0.0
0.0
0.0
0.0
0.0
2,787.
8,060.
12,943.
22,198.
5,348.
5,000.
1,341,181.
1,459,232.
1,524,943.
990,200.
990,200.
990,200.
990,200.
990,200.
990,200.
0.0
0.0
0.0
350,981.
469,032.
534,743.
0.0
0.0
0.0
350,981.
469,032.
534,743.
0.0
0.0
0.0

2007
-

2008
-

4,009,320.
3,357,026.
652,294.
2,923,071.
1,871,253.
1,051,818.
1,086,249.
159,699.
60,748.
98,951.
167,744.
577,054.
562,575.
353,575.
23,312.
0.0
0.0
1,301,735.

4,749,066.
5,483,297.
3,970,587.
3,786,925.
778,479.
1,696,372.
4,095,161.
4,822,065.
3,659,483.
4,295,353.
435,678.
526,712.
653,905.
661,232.
113,850.
139,296.
25,480.
30,240.
88,370.
109,056.
176,800.
180,852.
411,409.
406,960.
408,510.
404,359.
132,172.
120,312.
29,148.
54,949.
0.0
0.0
0.0
0.0
254,447. -4549

2,851,528.
1,485,362.
330,263.
2,638,446.

2,684,475.
1,211,835.
103,024.
2,542,089.

2,640,414.
1,097,528.
65,363.
2,860,130.

.01
14.39
0.0
.83
.75
72.91

.09
8.66
3.02
1.
.68
86.23

.14
7.42
5.92
1.08
.64
87.94

2.61
7.31
26.36
12.4

2.24
2.76
9.44
4.77
-

3.77
1.63
8.82
.37
3.34
13.54

2.34
2.45
8.06
4.52
-

5.74
1.32
2.78
.08
1.04
14.74

6.11
1.3
2.19
0.0
.66
15.4

Crescent Sugar Mills And Distillery Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
481,609.
1,166,654.
481,609.
42,884.
0.0

688,222.
19,166.
203,171.
56,737.
256,769.
152,379.
666,479.
410,419.
256,060.
118,183.

0.0
118,183.
385,169.
213,775.
213,775.
0.0
171,394.

2,236,498.
1,817,704.
418,794.
2,092,506.

143,992.
110,472.
110,472.
80,295.
-26718
10,845.
0.0
0.0

503,352.
0.0
-37563
410,419.
.5
3.59
2.54
1.91
1.03
93.56

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.04
-2.28
-5.79
-4.89
11.01
-1.19
0.0
-1.76
18.02
195

Financial Statement Analysis of Non Financial Sector

2007
459,406.
1,153,861.
459,406.
38,377.
0.0
992,513.
13,344.
231,242.
74,504.
534,155.
139,268.
752,470.
514,353.
238,117.
81,731.
0.0
81,731.
617,718.
213,775.
213,775.
0.0
403,943.
-

(Thousand Rupees)
2008
2009
2010
2011
428,062.
457,876.
3,159,380.
3,087,442.
451.
0.0
0.0
1,204,388.
1,267,012.
3,792,273.
3,435,938.
428,062.
397,923.
2,913,723.
2,786,695.
46,638.
43,117.
42,435.
35,645.
0.0
0.0
0.0
0.0
56,792.
241,971.
238,554.
2,710.
3,686.
62,193.
872,674.
541,093.
508,484.
585,801.
11,643.
3,110.
30,207.
11,227.
310,000.
170,442.
164,332.
245,892.
74,828.
65,437.
58,024.
69,945.
318,057.
142,976.
9,002.
8,024.
158,146.
159,128.
246,919.
250,713.
893,201.
833,814.
941,844.
951,447.
589,330.
449,631.
452,171.
321,548.
303,871.
384,183.
489,673.
629,899.
49,085.
53,765.
44,393.
33,924.
44,958.
34,972.
11,002.
0.0
0.0
8,984.
0.0
0.0
0.0
0.0
8,807.
9,421.
13,938.
49,085.
0.0
0.0
0.0
358,450.
111,390.
2,681,627.
2,687,872.
213,775.
213,775.
213,775.
213,775.
213,775.
213,775.
213,775.
213,775.
0.0
0.0
0.0
0.0
-79479
-79661
144,675. -102385
106,047.
19,957.
18,073.
-208432
-99436
-97734
0.0
2,547,331.
2,553,758.

2,395,470.
2,028,374.
367,096.
2,302,063.
-

2,072,000.
1,650,965.
421,035.
2,039,366.
1,760,327.
279,039.
32,634.
104,834.
21,345.
83,489.
194,186.
90,561.
88,036.
-130692
10,466.
0.0
0.0
29,115.

3,285,140.
4,530,528.
2,216,979.
1,577,245.
1,068,161.
2,953,283.
3,112,800.
4,241,679.
2,469,967.
3,230,809.
642,833.
1,010,870.
172,340.
288,849.
141,396.
163,964.
45,622.
94,011.
95,774.
69,953.
232,342.
212,501.
70,457.
64,809.
65,485.
55,312.
66,950.
32,871.
22,116.
45,832.
0.0
0.0
0.0
0.0
14,891. -40146

699,449.
407,535.
165,155.
0.0
0.0
44,958.
-141158
4,730. -60604
514,353.
589,330.
494,589.

2,726,020.
2,721,796.
34,972.
11,002.
44,834. -12961
487,143.
332,550.

2,544,949.
2,102,412.
442,537.
2,414,228.
-

93,407.
106,352.
-

130,721.
111,377.
-

106,352.
-

111,377.
-

86,510.
16,442.
11,712.
0.0
0.0
-

2011

.83
3.61
3.11
1.65
1.32
96.1

92,676.
-56256
4,348.
0.0
0.0
-

.45
3.64
2.94
1.96
.98
94.86

.25
4.37
3.16
2.07
.65
98.43

.1
2.14
1.77
.9
.54
94.75

.09
1.43
1.54
1.23
.62
93.62

1.35
1.25
3.28
2.73
-

2.63
-4.09
-11.53
-10.16
-

10.36
-

.37
2.87
4.79
4.63

12.16
-.48
-6.31
.03
-6.6
5.21

19.99
2.02
2.04
.02
2.1
125.44

8.21

.69
0.0
.22
28.9

7.97
-11.37
-55.63
-45.64

-2.21
0.0
-2.83
16.77

.37
.9
1.22
1.21
-

18.42
1.59
.73
-.04
-.61
125.73

Dewan Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
4,064,222.
5,411,068.
4,031,103.
205,422.
33,119.

2,995,473.
28,855.
577,528.
192,139.
0.0
2,196,951.
4,472,632.
1,907,465.
2,565,167.
614,756.

12,495.
602,261.
1,972,307.
365,120.
365,120.
0.0
1,607,187.

7,262,920.
6,911,194.
351,726.
6,778,023.

484,897.
130,288.
130,288.
228,879.
131,035.
42,917.
0.0
0.0

2,587,063.
12,495.
88,118.
1,919,960.
.05
3.15
2.65
1.03
.67
93.32

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.58
1.92
7.91
5.45
12.58
1.8
0.0
2.41
54.02
196

Financial Statement Analysis of Non Financial Sector

2007
3,905,234.
5,579,287.
3,869,946.
329,375.
35,288.
3,199,070.
15,313.
862,076.
211,640.
200,655.
1,909,386.
5,168,148.
2,397,027.
2,771,121.
256,403.
0.0
256,403.
1,679,753.
365,120.
365,120.
0.0
1,314,633.
-

(Thousand Rupees)
2008
2009
2010
2011
3,969,842.
3,695,735.
4,467,504.
3,112,880.
362,859.
0.0
0.0
5,949,835.
5,587,794.
6,936,903.
5,492,264.
3,934,554.
3,328,218.
4,467,474.
3,112,880.
308,221.
244,672.
210,395.
285,485.
35,288.
0.0
0.0
0.0
0.0
0.0
0.0
4,658.
30.
0.0
2,962,894.
2,641,850.
1,921,563.
2,140,497.
35,277.
10,613.
13,156.
37,171.
828,021.
748,380.
109,124.
443,833.
1,445,876.
40,418.
33,599.
33,466.
58,695.
28,392.
17,882.
41,496.
595,025.
1,814,047.
1,747,803.
1,584,531.
5,635,204.
4,627,235.
4,236,366.
1,305,468.
3,206,434.
3,062,171.
3,072,121.
461,577.
2,428,770.
1,565,064.
1,164,245.
843,891.
299,041.
898,370.
815,886.
3,439,102.
586,651.
356,865.
3,343,408.
196,605.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
40,505.
33,302.
299,041.
115,114.
418,516.
62,392.
998,491.
811,980.
1,336,815.
508,807.
365,120.
365,120.
365,120.
365,120.
365,120.
365,120.
365,120.
365,120.
0.0
0.0
0.0
0.0
-439596
-643183
633,371. -461563
0.0
0.0
0.0
-461563
-439596
-643183
908,423.
1,411,291.
786,870.

4,854,496.
4,076,217.
778,279.
4,702,251.
-

6,200,500.
4,876,155.
1,324,345.
6,158,106.
-

152,245.
157,845.
-

42,394.
159,525.
-

157,845.
-

2011

159,525.
-

363,822.
627,206.
-352070
-740698
26,478.
33,300.
0.0
0.0
0.0
0.0
-

2,439,050.
2,081,586.
357,464.
2,419,704.
1,752,191.
667,514.
19,346.
115,845.
16,812.
99,033.
198,498.
297,870.
294,591.
-471094
3,677.
0.0
0.0
-1686

4,333,665.
3,417,072.
4,075,503.
2,255,094.
258,162.
1,161,978.
4,213,774.
3,586,243.
2,966,928.
3,247,393.
1,246,846.
338,850.
119,891. -169171
65,935.
260,993.
11,103.
49,907.
54,832.
211,086.
155,013.
159,955.
6,087.
54,553.
1,877.
33,845.
49,056. -482636
52,000.
35,000.
0.0
0.0
0.0
0.0
316,606.
23,531.

1,936,156.
1,297,532.
1,710,351.
2,152,701.
3,947,909.
0.0
0.0
586,651.
356,865.
3,343,408.
-378548
-773998
-474770
-2944
-517636
2,397,027.
3,206,434.
3,648,822.
3,428,986.
3,804,985.
.08
7.49
4.36
.68
.62
96.86

.27
10.12
23.32
.89
.53
99.32

.02
12.21
1.66
.38
.57
99.21

.02
.14
.78
.68
.45
97.23

.09
1.6
.98
.65
1.64
104.95

3.23
-4.97
-19.28
-15.57
-

5.94
-10.55
-55.31
-45.81
-

5.63
-

3.78
.77
4.57
2.54

3.26
-.6
-19.31
0.0
-13.
22.24

39.71
27.14
1.13
.06
-.08
36.61

7.49

-7.25
0.0
-10.37
46.01

6.81
-7.1
-52.04
-31.32

-11.95
0.0
-21.2
27.35

9.32
-8.29
-52.3
-15.82
-

7.7
-13.26
-14.12
0.0
-14.18
13.94

Faran Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
449,433.
1,035,470.
449,433.
28,163.
0.0

583,543.
40,624.
276,023.
10,240.
84,737.
171,919.
692,086.
124,808.
567,278.
60,808.

0.0
60,808.
280,082.
188,270.
188,270.
0.0
91,812.

2,794,993.
2,794,993.
0.0
2,521,779.

273,214.
42,809.
42,809.
53,449.
181,373.
12,201.
41,419.
0.0

340,890.
0.0
127,753.
124,808.
.2
1.91
.37
2.71
.84
90.22

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.69
19.2
75.93
61.22
4.08
10.13
6.49
0.0
8.99
14.88
197

Financial Statement Analysis of Non Financial Sector

2007
499,160.
1,111,404.
499,160.
28,088.
0.0
537,793.
41,210.
149,495.
41,002.
97,932.
208,154.
693,819.
21,827.
671,992.
94,987.
0.0
94,987.
248,147.
188,270.
188,270.
0.0
59,877.
-

(Thousand Rupees)
2008
2009
2010
2011
515,881.
710,126.
776,121.
1,036,483.
4,222.
35,772.
81,920.
1,157,513.
1,207,517.
1,263,715.
1,474,511.
515,881.
534,536.
559,877.
730,470.
31,430.
34,211.
33,306.
41,648.
0.0
0.0
0.0
0.0
170,200.
179,323.
222,497.
1,168.
1,149.
1,596.
994,979.
818,849.
979,588.
2,121,221.
50,992.
78,010.
249,273.
275,420.
482,668.
479,118.
368,208.
1,541,973.
66,154.
88,552.
121,109.
5,353.
181,740.
0.0
0.0
0.0
213,425.
173,169.
240,998.
298,475.
1,128,837.
700,500.
850,867.
2,036,014.
82,694.
219,830.
0.0
191,735.
1,046,143.
480,670.
850,867.
1,844,279.
19,644.
381,316.
386,830.
421,078.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
19,644.
381,316.
386,830.
421,078.
362,379.
447,159.
518,012.
700,612.
216,510.
216,510.
216,510.
216,510.
216,510.
216,510.
216,510.
216,510.
0.0
0.0
0.0
0.0
145,869.
230,649.
301,502.
484,102.
7,130.
7,967.
10,359.
223,519.
293,535.
473,743.
0.0
0.0
0.0

2,093,283.
2,093,283.
0.0
2,017,618.
-

1,691,060.
1,691,060.
0.0
1,546,542.
-

75,665.
36,117.
-

144,518.
69,296.
-

36,117.
-

69,296.
-

28,285.

21,110.
-

19,724.
9,565.
0.0
0.0
-

2011

107,732.
16,000.
0.0
0.0
-

2,409,498.
2,409,498.
0.0
2,218,841.
1,965,577.
253,264.
190,657.
67,719.
6,071.
61,648.
122,766.
48,791.
47,507.
116,142.
18,532.
37,889.
0.0
74,360.

3,989,928.
3,989,928.
0.0
3,746,036.
3,371,004.
375,032.
243,892.
67,285.
4,206.
63,079.
129,133.
51,949.
51,332.
157,317.
43,898.
54,128.
0.0
517,750.

3,855,075.
3,855,075.
0.0
3,442,701.
28,998.
3,413,703.
412,374.
86,801.
9,094.
77,707.
142,782.
99,118.
98,050.
310,302.
41,717.
54,128.
0.0
146,678.

343,134.
0.0
10,159.
21,827.

382,023.
0.0
91,732.
82,694.

828,475.
0.0
59,720.
219,830.

904,842.
0.0
59,292.
0.0

1,121,690.
0.0
214,458.
191,735.

.26
1.35
1.96
2.02
.78
96.39

.26
1.25
3.91
1.12
.88
91.45

.24
2.02
3.68
1.58
1.17
92.09

.44
1.3
3.04
2.27
1.15
93.89

.14
2.57
.14
1.22
1.04
89.3

3.18
1.91
7.47
5.77
-

3.17
8.46
35.29
29.71
-

14.
-

3.5
-

.94
0.0
.54
13.18

6.37
0.0
4.24
16.74

2.42
7.64
28.69
19.19
2.58
5.03
3.44
4.82
.07
4.51
20.65

2.39
9.58
32.6
18.15
2.1
10.84
4.06
3.94
.42
5.24
23.93

3.51
12.63
50.93
30.62
4.96
2.5
4.16
8.05
.06
12.41
32.36

Fecto Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,400,160.
2,084,755.
1,400,160.
58,833.

506,452.
8,416.
323,502.
24,839.
149,695.
1,429,578.
459,361.
970,217.
371,955.

371,955.
105,079.
50,297.
50,297.
54,782.

1,001,826.
1,001,826.
938,860.

62,966.
54,538.
54,538.
109,011.
-92545
4,689.

477,034.
-97234
459,361.
.02
10.88
0.0
.53
.35
93.71

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

17.14
-5.33
-243.63
-19.22
3.1
-9.24
0.0
-19.33
20.89
198

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

0.0
-

2007
1,323,023.
2,095,956.
1,323,023.
78,708.
0.0
522,695.
5,124.
356,274.
0.0
38.
161,259.
1,593,916.
432,744.
1,161,172.
264,334.
0.0
264,334.
-12532
145,862.
145,862.
0.0
-158394
-

0.0

(Thousand Rupees)
2008
2009
2010
2011
1,265,629.
1,422,569.
1,408,168.
1,408,168.
41,127.
52,732.
52,732.
2,101,572.
2,228,509.
2,276,597.
2,276,597.
1,265,629.
1,349,509.
1,323,051.
1,323,051.
73,011.
67,479.
74,546.
74,546.
0.0
0.0
855.
855.
0.0
0.0
31,933.
31,530.
31,530.
240,042.
152,969.
165,780.
165,780.
15,808.
4,149.
8,710.
8,710.
33,263.
1,989.
11,132.
11,132.
1,618.
0.0
0.0
0.0
0.0
0.0
189,353.
146,831.
145,938.
145,938.
1,216,445.
356,599.
413,214.
413,214.
89,317.
49,475.
87,373.
87,373.
1,127,128.
307,124.
325,841.
325,841.
337,458.
1,199,313.
1,410,200.
1,410,200.
313,247.
275,935.
275,935.
666,000.
914,200.
914,200.
0.0
0.0
0.0
0.0
0.0
337,458.
220,066.
220,065.
220,065.
-48232
-249466
19,626. -249466
145,862.
145,862.
145,862.
145,862.
145,862.
145,862.
145,862.
145,862.
0.0
0.0
0.0
-194094
-739957
-977782
-977782
0.0
0.0
-739957
-977782
-977782
613,721.
582,454.
582,454.

972,001.
972,001.
0.0
1,030,814.

-58813
60,126.
60,126.
108,631.
-215934
4,479.
0.0
0.0
0.0
0.0
-

2011

1,854,387.
1,854,387.
0.0
1,745,637.
108,750.
65,308.
65,308.
97,172.
-51463
0.0
0.0
0.0
-

1,205,361.
1,490,206.
1,490,206.
1,205,361.
1,490,206.
1,490,206.
0.0
0.0
1,146,745.
1,690,340.
1,690,340.
1,052,179.
1,634,058.
1,634,058.
94,565.
56,283.
56,283.
-200134
58,616. -200134
71,955.
80,076.
80,076.
3,913.
2,882.
2,882.
68,042.
77,194.
77,194.
89,605.
95,307.
95,307.
79,755.
61,793.
61,793.
77,156.
61,169.
61,169.
-86463
-252998
-252998
6,485.
16,033.
16,033.
0.0
0.0
0.0
0.0
-272629
45,375. -272629

251,802.
289,226.
1,218,939.
1,160,734.
1,160,734.
0.0
0.0
313,247.
275,935.
275,935.
-220413
-51463
-92948
-269031
-269031
432,744.
89,317.
362,722.
363,308.
363,308.
0.0
11.18
0.0
.53
.33
106.05

.01
5.24
.09
1.23
.2
94.14

.01
6.62
0.0
.77
.43
95.14

.02
4.15
0.0
.95
.4
113.43

.02
4.15
0.0
.95
.4
113.43

0.0

0.0
0.0

0.0
0.0

0.0
0.0

0.0

0.0
0.0

-148.28
-11.51
-466.65
-59.25
-

-32.22
-3.07
169.39
-19.02
-

2.73
-

-7.31
-16.89
220.15
-21.26

606.01
-.12
-7.17
.03
-6.37
1.35

133.87
-3.14
-16.98
-.15
-18.44
-17.1

55.75

-22.22
0.0
-15.11
-.86

79.28
-5.61
604.52
-11.47

-2.78
0.0
-3.53
-3.31

-7.31
-16.07
101.42
-21.8
-

133.87
-3.14
-16.98
-.15
-18.44
-17.1

Habib - ADM Ltd.( Habib Arkady LTD.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
225,839.
575,735.
225,839.
16,969.
0.0

255,740.
16,535.
86,206.
111,976.
0.0
41,023.
109,097.
75,617.
33,480.
0.0

0.0
0.0
372,482.
200,000.
200,000.
0.0
172,482.

559,219.
402,022.
157,197.
404,805.

154,414.
107,384.
107,384.
9,878.
37,448.
5,104.
12,000.
0.0

372,482.
0.0
20,344.
75,617.
1.18
1.77
20.02
1.16
2.34
72.39

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.29
7.8
10.24
10.24
2.7
6.49
6.7
0.0
.81
9.31
199

Financial Statement Analysis of Non Financial Sector

2007
289,438.
661,311.
289,438.
22,367.
0.0
219,952.
14,090.
70,302.
80,519.
0.0
55,041.
62,301.
30,916.
31,385.
0.0
0.0
0.0
447,089.
200,000.
200,000.
0.0
247,089.
-

(Thousand Rupees)
2008
2009
2010
2011
343,466.
363,284.
354,659.
369,204.
15,871.
18,557.
721,788.
774,106.
801,003.
800,929.
343,466.
344,071.
332,449.
365,646.
28,225.
30,871.
38,667.
38,363.
0.0
0.0
0.0
0.0
0.0
3,343.
3,653.
3,558.
338,198.
321,197.
436,433.
400,515.
10,534.
52,068.
89,627.
62,232.
179,304.
139,742.
230,971.
262,310.
69,786.
70,878.
34,668.
4,963.
1,000.
0.0
0.0
77,574.
58,508.
81,167.
71,010.
169,190.
70,281.
109,344.
54,469.
82,048.
0.0
864.
1,033.
87,142.
70,281.
108,480.
53,436.
0.0
40,490.
45,548.
42,445.
0.0
1,428.
395.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
40,490.
44,120.
42,050.
512,474.
573,710.
636,200.
672,805.
200,000.
200,000.
200,000.
200,000.
200,000.
200,000.
200,000.
200,000.
0.0
0.0
0.0
312,474.
373,710.
436,200.
472,805.
10,000.
10,000.
10,000.
363,710.
426,200.
462,805.
0.0
0.0

743,653.
743,653.
0.0
483,654.
-

1,187,532.
1,187,532.
0.0
865,184.
-

259,999.
152,192.
-

322,348.
177,949.
-

152,192.
-

177,949.
-

6,678.

9,868.
-

103,462.
11,597.
24,000.
0.0
-

2011

139,028.
21,644.
80,000.
0.0
-

1,266,208.
797,194.
469,015.
872,234.
645,750.
226,484.
393,975.
192,816.
120,469.
72,347.
109,967.
3,267.
1,916.
200,703.
13,271.
80,000.
0.0
166,208.

1,223,608.
949,806.
273,802.
868,045.
655,889.
212,157.
355,563.
159,943.
92,136.
67,807.
106,919.
1,675.
350.
204,845.
55,402.
80,000.
0.0
144,370.

1,323,312.
1,059,880.
263,432.
996,665.
733,988.
262,677.
326,647.
158,864.
86,677.
72,187.
108,653.
2,602.
1,122.
169,646.
58,209.
80,000.

0.0

0.0
0.0

0.0

0.0
0.0
0.0

0.0

0.0

0.0
106,032.

447,089.
0.0
67,865.
30,916.

512,474.
0.0
37,384.
82,048.

614,200.
0.0
107,432.
0.0

681,748.
1,428.
69,443.
2,293.

715,250.
395.
31,437.
1,428.

1.52
.9
10.83
1.46
3.53
65.04

.48
.83
5.88
1.74
2.
72.86

1.75
.26
5.6
1.85
4.57
68.89

1.14
.14
2.83
1.55
3.99
70.94

1.23
.2
.38
1.72
7.35
75.32

.14
20.88
25.25
25.25
3.83
10.58
-

.33
23.35
28.98
28.98
1.47
6.62
-

13.91
0.0
2.3
11.18

11.71
0.0
5.87
25.62

.19
29.38
36.96
35.63
2.34
9.06
105.78
15.85
1.5
4.69
14.34

.24
27.76
33.86
31.61
1.87
5.3
585.5
16.74
.93
3.74
15.9

.14
21.74
25.92
24.29
1.39
5.04
152.2
12.82
1.09
2.79
16.82

Habib Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
618,039.
1,392,015.
618,039.
65,202.

1,777,667.
381,272.
419,296.
175,255.
614,725.
187,119.
832,639.
337,000.
495,639.

1,563,067.
216,000.
216,000.
1,347,067.

4,019,324.
4,019,324.
3,601,775.

417,549.
158,575.
158,575.
49,036.
260,589.
68,000.
21,600.
72,000.

1,563,067.
170,989.
337,000.
1.41
1.22
4.36
1.68
2.13
89.61

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.53
11.8
21.29
21.29
8.92
9.59
6.48
0.0
4.46
36.18
200

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0
0.0
0.0

0.0
-

2007
680,445.
1,513,820.
680,445.
61,986.
0.0
2,258,991.
638,531.
390,494.
202,887.
801,364.
225,715.
959,764.
488,190.
471,574.
0.0
0.0
0.0
1,979,672.
288,000.
288,000.
0.0
1,691,672.
-

(Thousand Rupees)
2008
2009
2010
2011
790,841.
1,397,089.
1,520,100.
1,728,857.
43,533.
57,351.
26,416.
1,687,640.
1,761,039.
1,809,516.
1,890,970.
790,841.
790,891.
760,509.
768,778.
66,387.
77,682.
80,199.
79,559.
0.0
0.0
0.0
555,710.
695,432.
923,856.
6,955.
6,808.
9,807.
2,563,642.
2,409,420.
1,915,962.
2,287,890.
736,537.
1,595,667.
1,307,268.
1,222,138.
438,221.
211,039.
319,376.
580,092.
403,763.
353,397.
114,178.
185,699.
555,721.
0.0
0.0
429,400.
249,317.
175,140.
299,961.
1,324,019.
1,265,349.
498,340.
417,157.
465,156.
426,000.
0.0
858,863.
839,349.
498,340.
417,157.
0.0
87,500.
86,500.
81,500.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
87,500.
86,500.
81,500.
2,030,464.
2,453,660.
2,851,222.
3,518,090.
360,000.
480,000.
600,000.
750,000.
360,000.
480,000.
600,000.
750,000.
0.0
0.0
0.0
1,670,464.
1,973,660.
2,251,222.
2,768,090.
34,000.
34,000.
34,000.
1,939,660.
2,217,222.
2,734,090.
0.0
0.0

2,838,960.
2,838,960.
0.0
2,468,787.

0.0
-

4,490,483.
2,102,436.
2,388,047.
3,755,657.
-

370,173.
173,110.
-

734,826.
282,208.
-

173,110.
-

282,208.
-

22,237.

9,998.
-

256,213.
47,500.
57,600.
72,000.
-

0.0

2011

503,747.
80,000.
90,000.
119,988.
-

4,584,186.
4,584,186.
0.0
3,720,221.
2,979,304.
740,917.
863,965.
297,217.
141,118.
156,099.
191,564.
56,866.
49,686.
654,816.
175,000.
168,000.
120,000.
1,092,009.

5,919,338.
5,919,338.
0.0
4,960,283.
4,424,738.
535,545.
959,055.
278,924.
128,129.
150,795.
206,819.
74,725.
67,100.
759,535.
241,000.
150,000.
150,000.
439,069.

7,467,944.
5,927,028.
1,540,916.
6,201,551.
4,239,628.
1,961,923.
1,266,393.
336,213.
153,401.
182,812.
216,624.

0.0

0.0

0.0

0.0
0.0
0.0
0.0

0.0

0.0

0.0
36,102.
1,050,016.
300,000.
375,000.
0.0
275,682.

1,979,672.
0.0
151,113.
488,190.

2,030,464.
0.0
333,747.
465,156.

2,541,160.
0.0
311,816.
426,000.

2,937,722.
0.0
368,535.
0.0

3,599,590.

1.71
.78
7.15
.97
2.35
86.96

1.28
.22
8.99
1.34
1.94
83.64

1.54
1.24
7.71
1.2
1.9
81.15

2.85
1.26
1.93
1.72
3.84
83.8

3.37
0.0
2.49
1.86
5.48
83.04

0.0
375,016.
0.0

.48
9.6
14.46
14.46
3.62
7.27
-

.65
16.01
25.12
25.12
4.71
10.25
-

9.02
0.0
3.62
34.37

11.22
0.0
5.89
28.2

.55
18.29
29.21
28.65
2.86
21.72
14.18
14.28
.81
5.
25.56

.21
31.43
28.64
27.73
3.46
18.53
12.32
12.83
.75
4.32
23.76

.14
28.18
32.97
32.12
2.
12.87
30.08
14.06
.55
5.
23.45

Haseeb Waqas Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
963,629.
1,683,479.
963,629.
58,754.

571,631.
77,265.
277,941.

216,425.
965,820.
545,959.
419,861.
33,165.

33,165.
536,275.
324,000.
324,000.
212,275.

1,091,041.
1,043,077.
47,964.
1,092,936.

-1895
26,813.
26,813.
81,248.
-108203
8,779.

569,440.
-116982
545,959.
.08
7.45
0.0
.71
.59
100.17

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.86
-7.7
-17.57
-16.05
3.93
-9.92
0.0
-3.61
16.55
201

2011

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0
0.0

0.0
-

0.0
-

2007
972,410.
1,749,635.
972,410.
58,911.
0.0
598,586.
25,006.
417,183.
1,383.
0.0
155,014.
1,145,516.
747,386.
398,130.
0.0
0.0
0.0
425,480.
324,000.
324,000.
0.0
101,480.
-

(Thousand Rupees)
2008
2009
2010
1,065,485.
1,009,135.
983,193.
193.
1,135,983.
1,135,791.
1,155,711.
1,065,485.
1,006,148.
979,474.
56,736.
59,145.
56,416.
0.0
0.0
0.0
2,794.
3,719.
431,612.
351,985.
575,070.
5,044.
146,120.
20,293.
233,216.
35,240.
235,474.
8,713.
0.0
0.0
0.0
184,639.
170,624.
319,304.
988,497.
392,148.
680,115.
487,109.
231,254.
486,447.
501,388.
160,894.
193,668.
20,340.
438,388.
302,011.
0.0
54,516.
267,000.
151,653.
0.0
0.0
9,783.
11,921.
20,340.
161,605.
83,922.
488,260.
530,584.
576,137.
324,000.
324,000.
324,000.
324,000.
324,000.
324,000.
0.0
0.0
164,260. -76207
10,984.
-76207
0.0
10,984.
282,791.
241,153.

1,015,361.
1,015,361.
0.0
1,013,109.

108,617.
108,982.
-135787
-98245
4,382.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-

1,054,857.
1,853,587.
1,054,857.
1,853,587.
0.0
856,746.
1,727,680.
347,513.
1,552,333.
509,233.
175,348.
198,110.
125,907.
30,765.
32,153.
0.0
30,765.
32,153.
50,718.
57,559.
130,065.
125,788.
128,545.
123,239.
37,349. -27930
5,732.
9,268.
0.0
32,400.
0.0
374,004. -298832

425,480.
508,600.
0.0
0.0
-140169
-98245
747,386.
487,109.

968,971.
878,148.
0.0
54,516.
31,617. -69598
231,254.
540,963.

1,324,168.
1,324,168.
0.0
1,288,685.
-

2,252.
32,925.
-

35,483.
32,411.
-

32,925.
-

0.0

32,411.
-

.02
10.7
.14
.65
.52
99.78

.01
8.23
.66
.88
.44
97.32

.37
12.33
0.0
.77
.9
81.22

.03
6.79
0.0
1.19
.85
93.21

2011
2,634,049.
0.0
2,692,448.
2,625,330.
53,518.
0.0
0.0

0.0
0.0

8,719.
863,426.
11,625.
257,072.
4,299.
590,430.
771,677.
449,733.
321,944.
1,053,304.
192,933.
236,355.

0.0
624,016.
1,672,494.
324,000.
324,000.
0.0
9,779.
0.0
9,779.
1,338,715.
3,087,853.
3,087,853.
0.0
2,900,399.
2,719,777.
180,622.
187,454.
32,667.
0.0
32,667.
67,232.
167,931.
48,696.
30,708.
30,879.
0.0
-157258
2,725,798.
192,933.
-171
642,666.
.02
5.44
.14
.88
1.12
93.93

2.69
-8.74
-28.24
-27.3
-

2.07
-6.4
-21.5
-21.04
-

2.43
-

5.68

-13.37
0.0
-4.33
13.13

1.57
2.61
7.33
5.06

-7.42
0.0
-3.03
15.07

29.93
1.29
3.54
.45
.98
16.38

1.7
-2.18
-5.05
-3.02
-1.15
7.87
.77
-1.51
-.3
-1.15
17.78

1.09
1.21
2.73
1.7
12.01
1.63
.99
-.09
-.01
51.62

0.0

0.0
0.0

0.0

0.0
0.0

0.0
0.0

0.0

0.0

0.0
0.0

Husein Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
354,530.
778,042.
354,530.
23,971.
0.0

462,130.
7,518.
314,577.
0.0
12,941.
127,094.
383,621.
252,198.
131,423.
28,512.

0.0
28,512.
404,527.
121,000.
121,000.
0.0
283,527.

1,153,190.
1,153,190.
0.0
1,043,213.

109,977.
54,886.
54,886.
35,199.
25,083.
5,080.
0.0
0.0

433,039.
0.0
20,003.
252,198.
.05
3.05
0.0
1.41
1.2
90.46

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.02
3.43
6.07
5.62
3.67
2.18
0.0
1.65
33.43
202

Financial Statement Analysis of Non Financial Sector

2007
337,896.
799,031.
337,896.
40,363.
0.0
405,451.
6,081.
249,369.
27,268.
12,340.
110,393.
367,395.
275,223.
92,172.
9,651.
0.0
9,651.
366,301.
121,000.
121,000.
0.0
245,301.
-

(Thousand Rupees)
2008
2009
2010
2011
359,132.
397,093.
960,850.
1,011,026.
24,483.
0.0
865,137.
862,116.
895,595.
1,415,709.
45,847.
359,132.
352,404.
832,998.
34,195.
42,781.
43,962.
39,686.
3,876.
0.0
0.0
750.
0.0
7,125.
3,188.
4,877.
13,080.
123,915.
106,817.
234,045.
269,247.
320,699.
386,367.
33,775.
28,938.
8,117.
4,850.
41,430.
103,979.
129,560.
10,681.
0.0
5,252.
1,042.
1,224.
11,738.
0.0
0.0
200,786.
147,102.
131,078.
181,980.
168,826.
181,590.
339,678.
607,123.
372,535.
22,739.
127,138.
278,069.
189,517.
158,851.
212,540.
329,054.
183,018.
10,969.
25,615.
55,595.
285,446.
24,626.
9,956.
285,157.
0.0
45,000.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
10,969.
989.
639.
289.
400,618.
301,047.
618,831.
739,412.
121,000.
121,000.
121,000.
170,000.
121,000.
121,000.
121,000.
170,000.
0.0
0.0
0.0
0.0
279,618.
180,047.
5,147.
76,728.
25,719.
21,781.
23,470.
154,329. -16635
53,258.
0.0
492,684.
492,684.

1,534,450.
1,534,450.
0.0
1,519,353.
-

1,897,466.
1,897,466.
0.0
1,724,474.

3,477,699.
3,477,699.
0.0
3,184,341.
2,833,149.
351,192.
293,358.
121,097.
7,815.
113,282.
144,923.
66,504.
61,268.
119,246.
35,403.
0.0
0.0
109,506.

411,587.
326,662.
674,426.
0.0
24,626.
9,956.
-297450
36,210. -94963
22,739.
151,764.
288,025.

1,024,858.
285,157.
83,843.
474,674.

172,992.
78,794.
-

60,620.
-

1,468,262.
1,824,195.
1,468,262.
1,824,195.
0.0
0.0
1,418,682.
1,973,802.
1,243,862.
1,806,923.
174,820.
166,879.
49,580. -149607
80,070.
81,724.
5,025.
4,810.
75,045.
76,914.
125,198.
117,910.
62,570.
71,343.
60,649.
70,248.
-87608
-297450
7,355.
0.0
0.0
0.0
0.0
0.0
-59021
-198386

15,097.
60,620.

78,794.
-

42,573.
-70163
6,731.
0.0
0.0
375,952.
0.0
-76894
275,223.
.12
2.77
1.78
2.06
1.1
99.02

2011

43,802.
56,780.
0.0
20,570.
0.0

.25
2.31
0.0
3.2
1.29
90.88

.1
4.26
.36
2.2
.79
96.62

.02
3.91
.06
1.42
.53
108.2

.56
1.91
.04
2.49
1.04
91.56

1.03
-9.
-18.2
-17.35
-

.48
8.5
14.81
14.42
2.76 45.8

6.15

-4.57
0.0
-6.35
30.27

2.99
0.0
4.69
33.11

1.21
-13.91
-24.97
-23.73

1.07
-30.54
-64.67
-59.43

14.12
-.44
-5.97
-.16
-7.85
24.88

14.08
-3.23
-16.31
-.3
-24.58
51.14

.89
8.9
17.56
14.03
-

325.6
2.95
3.43
.17
4.93
43.49

JDW Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,094,551.
3,883,662.
3,094,551.
159,458.

2,084,232.
5,357.
169,524.
986,308.
923,043.
1,670,407.
373,993.
1,296,414.
2,332,649.

2,332,649.
1,175,727.
260,302.
260,302.
915,425.

6,489,766.
6,489,766.
5,336,752.

1,153,014.
370,808.
370,808.
495,060.
287,146.
28,324.
78,091.
52,060.

3,508,376.
180,731.
373,993.
.7
7.63
2.61
1.25
1.25
82.23

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.4
6.52
26.67
9.76
3.31

4.42
0.0
9.94
45.17
203

2011

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

2007
3,191,943.
4,162,471.
3,191,943.
194,952.
0.0
4,051,494.
22,022.
358,189.
358,189.
1,583,808.
1,729,286.
3,620,464.
2,763,918.
856,546.
2,414,326.
0.0
2,414,326.
1,208,647.
315,362.
315,362.
0.0
893,285.
6,144,673.
6,144,673.
0.0
5,328,324.

0.0
-

(Thousand Rupees)
2008
2009
2010
2011
4,864,442.
8,257,771.
8,849,112. 12,068,087.
25,574.
46,064.
2,152,418.
5,878,169.
9,035,673.
9,484,823. 10,715,941.
4,322,276.
6,829,408.
6,893,409.
7,768,107.
199,935.
434,173.
443,216.
482,211.
542,166.
608,311.
608,311.
608,311.
745,602.
1,216,921.
1,340,840.
48,877.
84,409.
198,411.
3,695,631.
4,074,576.
3,322,547.
7,234,919.
3,372.
6,578.
10,942.
414,068.
876,392.
1,436,297.
206,682.
1,922,057.
130,216.
36,588.
143.
859,693.
1,080,166.
0.0
0.0
1,605,485.
2,595,114.
3,104,780.
4,039,101.
4,542,946.
5,492,666.
4,365,877.
8,490,644.
2,125,316.
4,458,967.
3,298,773.
6,651,899.
2,417,630.
1,033,699.
1,067,104.
1,838,745.
2,553,882.
4,848,826.
4,396,217.
6,106,432.
3,705,738.
3,100,554.
4,608,516.
260,900.
239,324.
0.0
0.0
0.0
26,886.
37,955.
45,521.
2,553,882.
855,302.
1,018,383.
1,452,395.
1,463,245.
1,990,855.
3,409,565.
4,705,930.
381,254.
435,458.
489,890.
592,767.
381,254.
435,458.
489,890.
592,767.
0.0
0.0
0.0
1,081,991.
1,555,398.
2,919,675.
4,113,163.
0.0
0.0
1,555,398.
2,919,675.
4,113,163.
0.0
0.0

8,718,072.
8,718,072.
0.0
7,082,728.
-

816,349.
162,091.
-

1,635,344.
358,919.
-

162,091.
-

358,919.
-

697,960.

662,328.
-

58,498.
0.0
0.0
63,072.
-

0.0

668,102.
27,446.
133,439.
57,188.
-

9,898,459.
9,898,459.
0.0
7,510,054.
6,666,948.
843,107.
2,388,404.
357,934.
15,188.
342,746.
633,026.
1,127,468.
1,103,707.
927,036.
62,628.
174,183.
0.0
-389380

20,380,684.
20,380,684.
0.0
16,744,651.
13,829,079.
2,915,572.
3,636,033.
568,203.
11,956.
556,247.
827,874.
1,168,440.
1,137,486.
1,949,530.
355,300.
342,923.
48,989.
2,961,982.

24,729,491.
24,729,491.
20,513,820.
163,823.
20,349,997.
4,215,671.
792,933.
15,135.
777,798.
851,324.
1,383,695.
1,342,850.
2,076,459.
640,962.
533,490.
944,248.

3,622,973.
0.0
58,498.
2,763,918.

4,017,127.
0.0
507,217.
2,125,316.

6,839,681.
3,705,738.
690,225.
8,164,705.

7,805,782.
3,100,554.
1,251,307.
6,399,328.

10,812,362.
4,608,516.
902,007.
11,260,415.

.54
11.36
5.83
.85
1.12
86.71

.27
7.6
1.49
1.02
.81
81.24

.01
11.39
.37
.8
.74
75.87

0.0
5.73
0.0
1.67
.76
82.16

.15
5.6
3.48
1.28
.85
82.95

4.99
.94
4.91
1.64

4.85
8.46
50.01
17.49
4.8
9.95

17.15
-

.95
0.0
1.85
38.33

7.66
0.0
16.8
38.38

5.19
8.87
53.68
17.08
4.96
6.89
1.84
9.37
-.04
19.85
45.72

2.57
15.91
72.2
26.62
4.65
98.61
2.71
9.57
.34
32.54
69.6

3.1
13.19
51.17
22.31
2.69
12.87
2.55
8.4
.06
24.22
79.39

0.0

0.0
0.0

0.0
0.0
0.0

0.0

0.0

Khairpur Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
839,402.
1,313,278.
839,402.
51,715.
0.0

165,387.
5,358.
59,861.
0.0
0.0
100,168.
632,483.
77,823.
554,660.
329,239.

0.0
329,239.
43,067.
160,175.
160,175.
0.0
-117108

850,704.
850,704.
0.0
820,429.

30,275.
39,561.
39,561.
9,863.
-18464
3,684.
0.0
0.0

372,306.
0.0
-22148
77,823.
.01
1.16
0.0
.85
.26
96.44

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

22.33
-1.86
-31.13
-4.31
14.21
-2.17
0.0
-1.38
2.69
204

2011

Financial Statement Analysis of Non Financial Sector

2007
818,108.
1,341,404.
818,108.
49,419.
0.0
113,781.
14,812.
5,593.
0.0
0.0
93,376.
335,005.
81,260.
253,745.
615,314.
0.0
615,314.
-18430
160,175.
160,175.
0.0
-178605
-

(Thousand Rupees)
2008
2009
2010
1,095,307.
1,322,013.
1,479,148.
1,754.
176,184.
1,670,313.
1,959,237.
2,009,115.
1,095,307.
1,315,592.
1,297,606.
51,710.
68,665.
67,865.
0.0
0.0
0.0
4,667.
5,358.
385,923.
184,128.
156,074.
8,026.
39,658.
6,270.
252,584.
44,594.
24,079.
0.0
7,190.
6,421.
0.0
0.0
125,313.
92,685.
119,304.
1,177,920.
646,885.
720,463.
73,081.
78,152.
73,081.
1,104,839.
568,733.
647,382.
180,728.
708,026.
735,208.
107,647.
34,566.
577,963.
677,089.
0.0
0.0
19,149.
23,554.
180,728.
3,267.
122,582.
151,230.
179,551.
160,175.
160,175.
160,175.
160,175.
160,175.
160,175.
0.0
0.0
-37593
-332114
-301580
0.0
-332114
-301580
323,169.
320,956.

994,344.
994,344.
0.0
990,721.
-

4,209.
398,401.
20,673.
200,259.
0.0
177,469.
766,956.
34,566.
732,390.
857,298.
815,162.
0.0
0.0

29,457.
12,679.
197,907.
160,175.
160,175.

0.0
-250072
0.0
-250072
287,804.

13,887.
11,721.
-57209
-49898
4,289.
0.0
0.0
0.0
0.0
0.0
596,884.
303,310.
0.0
0.0
-61498
-49898
81,260.
73,081.

859,256.
107,647.
19,742.
185,799.

914,759.
34,566.
25,054.
107,647.

1,055,205.

.07
.31
.67
.71
.28
92.04

.02
.25
.51
.77
.22
91.21

.03
1.07
0.0
.84
.52
90.81

2,727.
54,098.
-

47,893.
-

0.0
0.0

1,264,672.
1,264,672.

3,623.
47,893.
-

2,205,357.
1,419,551.
74,296.

1,075,493.
1,075,493.
0.0
989,857.
617,642.
372,215.
85,636.
62,286.
3,656.
58,631.
70,593.
3,312.
0.0
25,120.
5,377.
0.0
0.0
269,979.

716,341.
716,341.
0.0
713,614.

2011
1,423,760.

54,098.
-

.04
1.4
0.0
1.07
.34
99.64

.01
1.64
0.0
.48
.33
99.62

1,534,346.
1,534,346.
0.0

1,153,481.
945,914.
207,567.
111,191.
71,554.
3,642.
67,912.
85,099.
3,212.
0.0
37,701.
12,647.

1,393,271.
1,382,523.
10,748.
141,075.
78,649.
5,003.
73,646.
89,741.
16,412.
14,145.
46,377.
15,343.

0.0
0.0
170,638.

-31682

31,034.
34,566.

-51.56
-5.91
-464.42
-11.81
-

11.08
-4.14
-95.82
-11.09
-

177.78
-

8.11
2.4
22.79
4.25

24.12

52.52

2.34
.2
1.23
9.44

2.98
.12
1.56
11.21

2.84

-5.75
0.0
-3.84
-1.15

8.96
1.68
18.35
4.32

-6.97
0.0
-3.12
7.65

8.21
2.68
24.57
4.71

7.66
4.28
3.02
-.02
1.94
12.36

0.0

0.0
0.0

0.0
0.0

0.0
0.0

0.0
0.0

0.0

0.0
0.0

0.0

Kohinoor Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,303,162.
1,617,176.
1,303,162.
33,939.
0.0

393,162.
9,553.
218,957.
4,168.
0.0
160,484.
585,813.
348,548.
237,265.
338,366.

0.0
338,366.
772,145.
94,868.
94,868.
0.0
677,277.

1,037,932.
1,037,932.
0.0
900,291.

137,641.
54,615.
54,615.
51,802.
36,940.
4,580.
14,230.
0.0

1,110,511.
0.0
18,130.
348,548.
.02
4.99
.4
.61
.67
86.74

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.2
2.82
5.61
4.2
2.27
4.74
3.56
0.0
3.41
81.39
205

Financial Statement Analysis of Non Financial Sector

2007
1,507,054.
1,857,541.
1,507,054.
36,572.
0.0
352,353.
1,171.
176,013.
4,410.
0.0
170,759.
768,918.
317,666.
451,252.
468,648.
0.0
468,648.
621,841.
109,098.
109,098.
0.0
512,743.
-

(Thousand Rupees)
2008
2009
2010
2011
1,559,495.
1,648,696.
1,664,441.
1,664,123.
433,369.
473,397.
503,971.
1,970,976.
1,664,990.
1,613,143.
1,619,108.
1,559,495.
1,196,336.
1,124,456.
1,083,821.
63,340.
61,901.
53,684.
48,288.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
18,991.
66,588.
76,331.
582,757.
341,213.
412,015.
827,053.
8,772.
13,350.
2,661.
4,921.
358,440.
92,362.
124,203.
577,406.
40,279.
0.0
52,445.
884.
0.0
0.0
0.0
0.0
175,266.
235,501.
232,706.
243,842.
1,044,824.
500,024.
579,661.
1,100,122.
250,466.
130,771.
286,971.
697,765.
794,358.
369,253.
292,691.
402,357.
520,135.
817,488.
898,324.
844,392.
399,310.
300,517.
213,678.
416,869.
446,498.
454,405.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
520,135.
1,309.
151,309.
176,309.
577,293.
672,397.
598,471.
546,662.
109,098.
109,098.
109,098.
109,098.
109,098.
109,098.
109,098.
109,098.
0.0
0.0
0.0
0.0
-158968
-210777
468,195. -85042
26,879.
26,879.
26,879.
-111922
-185847
-237656
648,341.
648,341.
648,341.

748,644.
748,644.
0.0
787,849.
-

2011

92,078.
-104027
0.0
0.0
0.0
-

1,379,043.
1,387,004.
1,640,935.
1,379,043.
1,387,004.
1,640,935.
0.0
0.0
0.0
1,196,613.
1,360,588.
1,499,230.
782,886.
1,255,983.
1,803,828.
413,728.
104,605. -304598
182,430.
26,416.
141,705.
71,447.
71,065.
78,046.
2,599.
2,353.
3,923.
68,849.
68,712.
74,123.
105,548.
170,909.
112,899.
109,379.
81,559.
112,658.
87,525.
80,492.
111,518.
-44568
5,789. -113768
1,267.
7,756.
16,435.
0.0
0.0
0.0
0.0
0.0
0.0
-334324
23,797. -261891

1,090,489.
1,097,428.
0.0
0.0
-141044
-104027
317,666.
250,466.

1,489,885.
1,496,795.
1,391,054.
399,310.
300,517.
213,678.
-61003
4,522. -121524
530,081.
587,487.
911,443.

-39205
53,074.
53,074.
59,427.
-137233
3,811.
0.0
0.0
-

.01
7.94
.59
.4
.46
105.24

1,089,166.
1,089,166.
0.0
1,054,212.
34,954.
60,205.
60,205.
-

.05
8.45
3.7
.51
.56
96.79

.03
7.93
0.0
.69
.68
86.77

.1
5.88
3.78
.67
.71
98.1

.01
6.87
.05
.66
.75
91.36

1.99
-7.72
-19.69
-12.47
-

2.71
-5.2
-17.35
-9.51
-

4.25
-

2.47
-5.6
-17.9
-7.62

14.93
1.07
.42
.02
.41
61.63

11.17
-.41
-8.2
-.18
-11.14
54.86

3.04

-18.33
0.0
-12.93
57.

1.96
.28
.93
.45

-9.55
0.0
-9.54
52.92

3.56
-1.95
-7.78
-3.09
-

2.84
.6
-2.72
-.17
-5.59
50.11

Mehran Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
394,306.
821,393.
394,306.
33,113.
0.0

411,195.
26,526.
139,740.
0.0
83,654.
161,275.
525,919.
206,386.
319,533.
49,779.

0.0
49,779.
229,803.
98,438.
98,438.
0.0
131,365.

2,259,620.
1,900,849.
358,771.
2,071,125.

188,495.
47,378.
47,378.
46,939.
98,923.
9,821.
0.0
0.0

279,582.
0.0
89,102.
206,386.
.21
2.08
0.0
2.81
.78
91.66

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.51
12.14
50.
38.16
16.17
4.38
0.0
9.05
23.34
206

Financial Statement Analysis of Non Financial Sector

2007
419,795.
879,904.
419,795.
34,280.
0.0
343,838.
2,210.
118,387.
31,073.
97,891.
94,277.
493,018.
137,138.
355,880.
152,204.
0.0
152,204.
118,411.
98,437.
98,437.
0.0
19,974.
-

(Thousand Rupees)
2008
2009
2010
2011
425,336.
688,396.
1,028,023.
1,314,044.
39,019.
38,213.
97,094.
916,961.
999,499.
1,380,332.
1,636,135.
425,336.
473,156.
809,740.
991,687.
34,690.
36,497.
47,902.
75,568.
0.0
0.0
0.0
0.0
174,229.
176,077.
216,718.
1,992.
3,992.
8,545.
766,253.
430,048.
707,368.
1,805,469.
1,658.
1,341.
113,747.
11,943.
437,058.
141,297.
253,837.
1,458,570.
30,512.
112,101.
90,561.
4,683.
151,507.
39,053.
91,481.
162,989.
145,518.
136,256.
157,742.
167,284.
888,290.
482,161.
751,722.
1,854,588.
182,587.
108,033.
77,373.
128,750.
705,703.
374,128.
674,349.
1,725,838.
127,511.
302,602.
461,255.
472,087.
90,631.
219,972.
189,059.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
4,868.
5,742.
5,682.
127,511.
207,103.
235,541.
277,346.
175,788.
333,681.
522,414.
792,838.
98,438.
118,125.
142,931.
172,947.
98,438.
118,125.
142,931.
172,947.
0.0
0.0
0.0
0.0
77,350.
215,556.
379,483.
619,891.
63,281.
63,281.
63,281.
152,275.
316,202.
556,610.
0.0
0.0
0.0

1,485,943.
1,376,942.
109,001.
1,493,303.
-

-7360

1,439,288.
1,202,038.
237,250.
1,320,711.
118,577.
78,211.

46,252.
-

46,252.

2011

78,211.
-

57,773.
-110357
6,450.
0.0
0.0
-

43,639.
60,564.
2,414.
0.0
0.0

2,387,446.
2,387,446.
0.0
1,994,378.
1,416,671.
577,707.
393,068.
144,200.
5,367.
138,833.
121,462.
65,333.
64,258.
245,693.
5,088.
41,344.
35,438.
55,935.

3,841,345.
4,355,038.
3,841,345.
4,355,038.
0.0
0.0
3,366,566.
3,773,643.
3,174,120.
4,521,189.
192,446. -747546
474,779.
581,395.
120,774.
152,042.
5,443.
5,164.
115,331.
146,878.
137,798.
173,523.
73,800.
133,757.
72,448.
132,349.
321,129.
416,496.
38,758.
45,595.
50,026.
51,884.
28,586.
34,589.
292,070.
317,288.

270,615.
0.0
-116807
137,138.

303,299.
0.0
58,150.
182,587.

636,283.
90,631.
199,261.
198,664.

983,669.
219,972.
232,346.
297,345.

1,264,925.
189,059.
319,017.
317,809.

.27
3.89
2.09
1.95
.7
100.5

.21
3.03
2.12
1.21
.86
91.76

.32
2.74
4.7
2.13
.89
83.54

.39
1.92
2.36
2.21
.94
87.64

.1
3.07
.11
1.4
.97
86.65

5.45
-14.07
-63.38
-40.12
-

5.78
6.2
41.17
21.11
-

12.55
-

3.29
-

-7.43
0.0
-11.87
12.03

4.21
0.0
5.91
17.86

2.35
21.27
96.45
52.3
5.82
16.9
4.82
10.29
.07
20.37
28.25

2.32
22.51
75.02
39.65
5.64
15.13
5.43
8.36
.24
19.76
36.55

2.93
17.16
63.33
37.05
7.15
2.99
4.15
9.56
.14
21.45
45.84

Mirpurkhas Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
322,115.
690,091.
322,115.
16,796.

745,867.
12,044.
336,408.
282,023.
115,392.
549,284.
348,915.
200,369.
114,880.

114,880.
403,818.
63,888.
63,888.
339,930.

1,591,383.
1,591,383.
1,329,888.

261,495.
45,370.
45,370.
55,175.
211,687.
7,771.
14,375.

518,698.
189,541.
348,915.
.54
3.47
0.0
1.49
1.36
83.57

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.64
21.08
60.87
41.19
14.19
4.73
13.3
0.0
31.92
63.21
207

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

2007
398,069.
785,035.
398,069.
20,695.
0.0
606,163.
10,064.
183,799.
4,691.
306,453.
101,156.
613,380.
403,366.
210,014.
31,826.
0.0
31,826.
359,026.
63,888.
63,888.
0.0
295,138.
-

(Thousand Rupees)
2008
2009
2010
2011
417,044.
753,477.
986,239.
1,187,555.
91,608.
123,281.
73,229.
822,423.
916,682.
1,120,505.
1,364,785.
417,044.
493,340.
683,949.
889,924.
22,006.
21,632.
31,866.
40,057.
0.0
0.0
2,200.
4,767.
167,791.
176,077.
218,903.
738.
732.
732.
835,365.
559,658.
501,201.
1,267,112.
13,297.
35,036.
31,152.
15,651.
426,595.
203,171.
125,715.
886,781.
0.0
84,050.
90,979.
13,481.
215,486.
63,828.
56,616.
1,251.
179,987.
173,573.
196,739.
349,948.
810,242.
524,513.
594,558.
1,189,580.
153,802.
214,684.
206,322.
519,476.
656,440.
309,829.
388,236.
670,104.
177,778.
339,086.
338,231.
596,332.
133,334.
88,890.
344,445.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
177,778.
205,752.
249,341.
251,887.
264,389.
449,536.
554,651.
668,755.
63,888.
63,888.
70,277.
84,332.
63,888.
63,888.
70,277.
84,332.
0.0
0.0
0.0
200,501.
256,592.
311,318.
411,367.
256,592.
0.0
0.0
311,318.
411,367.
129,056.
173,056.
173,056.

1,294,507.
1,294,507.
0.0
1,242,872.

0.0
-

1,128,856.
927,144.
201,712.
980,357.
-

51,635.
43,876.
-

148,499.
80,224.
-

43,876.
-

80,224.
-

59,956.
-50519
6,064.
0.0
0.0
0.0
-

0.0

2011

56,292.
62,882.
2,454.
6,389.
0.0

1,803,234.
1,803,234.
0.0
1,471,620.
1,229,396.
242,224.
331,614.
69,309.
2,571.
66,738.
137,473.
86,594.
85,838.
214,218.
10,860.
15,972.
6,389.
26,877.

2,823,671.
2,823,671.
0.0
2,477,780.
2,344,703.
133,077.
345,891.
95,947.
4,985.
90,962.
175,728.
103,958.
102,155.
156,346.
30,734.
10,542.
14,055.
375,735.

2,739,671.
2,739,671.

0.0
0.0
0.0

0.0
0.0

0.0
2,375,297.
217,549.
2,157,748.
364,374.
98,579.
5,940.
92,639.
203,166.
145,310.
143,606.
168,294.
30,194.
8,433.
12,650.
79,741.

390,852.
0.0
-56583
403,366.

442,167.
0.0
54,039.
153,802.

788,622.
133,334.
187,386.
348,018.

892,882.
88,890.
115,070.
295,212.

1,265,087.
344,445.
129,667.
863,921.

.52
4.63
.36
1.29
.99
96.01

.28
4.99
0.0
.9
1.03
86.85

.35
4.8
4.66
1.37
1.07
81.61

.3
3.68
3.22
1.9
.84
87.75

.03
5.3
.49
1.12
1.07
86.7

1.8
-4.88
-13.24
-11.11

3.74
5.57
20.17
15.1
9.46
2.65

7.04
-

-3.9
0.0
-8.86
56.2

5.57
0.0
9.46
41.38

1.92
16.7
60.01
34.81
12.73
8.88
3.5
11.88
.03
31.83
70.36

1.68
11.17
31.14
18.6
11.92
22.46
2.53
5.54
.4
17.87
78.92

2.67
8.54
27.51
15.6
16.38
3.09
2.17
6.14
.04
16.38
79.3

Mirza Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
262,840.
688,212.
262,840.
27,366.
0.0
44,901.
1,289.
1,621.
150.
0.0
41,841.
731,395.
373,728.
357,667.
357,867.
0.0
357,867.
-781521
141,000.
141,000.
0.0
-922521
641,281.
641,281.
0.0
605,091.
36,190.
25,321.
25,321.
28,760.
-17828
2,800.
0.0
0.0
-423654
0.0
-20628
373,728.
0.0
4.48
.02
2.08
.06
94.36

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
208

-1.39
-4.67
2.56
5.87
395.61
-2.78
0.0
-1.46
-55.43

Financial Statement Analysis of Non Financial Sector

2007
239,349.
673,493.
239,349.
26,903.
0.0
52,571.
1,671.
7,208.
8,199.
0.0
35,493.
802,594.
81,243.
721,351.
319,294.
0.0
319,294.
-829968
141,000.
141,000.
0.0
-970968
-

2008
221,120.
694,223.
221,120.
22,946.
0.0
87,683.
1,337.
44,856.
1,592.
0.0
39,898.
885,166.
520,540.
364,626.
220,209.
0.0
220,209.
-796572
141,000.
141,000.
0.0
-937572
-

2009
215,849.
15,218.
692,765.
199,204.
21,554.
0.0
0.0
1,427.
100,351.
2,488.
65,590.
0.0
0.0
32,273.
421,886.
291,439.
130,448.
530,471.
143,773.
0.0
0.0
0.0
386,698.
-636157
141,000.
141,000.
0.0
-777157
0.0
-777157
0.0

558,900.
558,900.
0.0
562,750.

732,343.
732,343.
0.0
706,238.

649,457.
649,457.
0.0
556,161.
473,538.
82,623.
93,295.
59,732.
835.
58,898.
50,686.
6,822.
5,371.
166,796.
3,300.
0.0
0.0
40,812.

-3850

26,105.
37,748.

27,302.
-

27,302.

37,748.
-

21,246.
-44745
2,500.
0.0
0.0
-510674

17,451.
33,396.
0.0
0.0
0.0

-576363
0.0

-47245
81,243.

0.0
33,396.
520,540.

.01
3.8
1.47
1.91
.07
100.69

0.0
2.38
.22
2.37
.1
96.44

2011

(Thousand Rupees)
2010
2011
207,882.
194,570.
0.0
720,294.
735,856.
206,455.
194,570.
20,278.
21,448.
0.0
0.0
1,427.
171,537.
283,828.
18,276.
14,195.
77,650.
140,827.
1,749.
36,010.
0.0
73,862.
92,796.
425,573.
553,121.
331,355.
359,692.
94,218.
193,429.
450,808.
403,486.
64,110.
16,788.
0.0
0.0
0.0
386,698.
386,698.
-496962
-478209
141,000.
141,000.
141,000.
141,000.
0.0
-637962
-619209
0.0
-637962
-619209
0.0
1,328,623.
1,328,623.
1,107,582.
1,007,156.
100,426.
221,042.
56,091.
1,010.
55,081.
58,717.
12,826.
10,342.
152,482.
13,286.
14,100.
78,188.

1,465,478.
1,465,478.
0.0
1,355,199.
1,418,376.
-63177
110,279.
68,644.
1,347.
67,297.
69,715.
9,000.
6,759.
39,335.
14,722.
0.0
56,266.

-105686
-46154
-74723
143,773.
64,110.
16,788.
163,496.
125,095.
24,613.
435,212.
395,465.
376,480.
.01
1.05
0.0
2.05
.24
85.63

.05
.97
.13
3.5
.4
83.36

.09
.61
2.46
3.06
.51
92.47

0.0

0.0
0.0
0.0

0.0

0.0
0.0
0.0

0.0
0.0
0.0

0.0

0.0
0.0

-1.35
-14.92
5.55
9.58
-

-1.39
11.12
-4.11
-6.14
-

77.54
-

16.33

-8.01
0.0
-3.35
-58.86

-1.5
53.37
-23.28
-48.91

4.56
0.0
2.37
-56.49

9.9
32.05
25.68
.04
11.6
-45.12

-1.76
43.84
-26.91
-200.85
9.87
17.11
15.74
11.48
.09
9.87
-35.25

-2.
9.17
-8.07
-65.08
10.41
6.82
2.68
.06
1.75
-33.92

Noon Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,284,521.
1,873,144.
1,284,521.
53,242.
0.0

592,497.
18,206.
374,592.
24,115.
88,112.
87,472.
453,489.
283,445.
170,044.
431,053.

0.0
431,053.
992,476.
113,757.
113,757.
0.0
878,719.

1,001,103.
788,543.
212,560.
928,030.

73,073.
78,742.
78,742.
25,968.
80,885.
4,480.
0.0
22,751.

1,423,529.
0.0
76,405.
283,445.
.29
2.59
2.41
.53
1.31
92.7

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.89
5.06
7.98
6.54
2.67
8.08
0.0
6.72
87.25
209

Financial Statement Analysis of Non Financial Sector

2007
1,461,495.
2,092,376.
1,461,495.
52,924.
0.0
702,139.
14,856.
471,149.
11,407.
81,208.
123,519.
823,695.
645,423.
178,272.
361,155.
0.0
361,155.
978,784.
136,508.
136,508.
0.0
842,276.
-

(Thousand Rupees)
2008
2009
2010
2011
1,349,771.
1,351,654.
1,205,594.
1,186,367.
8,803.
9,605.
60,017.
2,118,857.
2,118,216.
2,133,679.
2,171,479.
1,349,771.
1,216,649.
1,107,994.
1,031,767.
143,319.
138,801.
126,202.
116,561.
0.0
0.0
0.0
0.0
124,360.
85,862.
90,110.
1,842.
2,133.
4,473.
584,555.
247,118.
330,727.
1,103,062.
16,250.
9,766.
38,627.
11,704.
318,059.
133,203.
160,060.
876,962.
40,771.
3,112.
16,872.
48,282.
105,304.
0.0
0.0
23,722.
104,171.
101,037.
115,168.
142,392.
759,465.
448,038.
781,124.
1,499,694.
554,942.
387,683.
655,848.
1,225,065.
204,523.
60,355.
125,276.
274,629.
266,937.
185,379.
50,880.
50,094.
132,872.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
51,145.
49,757.
49,683.
266,937.
1,362.
1,123.
411.
907,924.
965,355.
704,317.
739,641.
150,159.
150,159.
165,175.
165,175.
150,159.
150,159.
165,175.
165,175.
0.0
0.0
0.0
0.0
757,765.
815,196.
539,142.
574,466.
134,233.
119,217.
119,217.
680,963.
419,925.
455,249.
0.0
0.0
0.0

1,219,559.
963,592.
255,967.
1,149,279.
-

51,529.
184,257.
-61069
-42752
5,477.
5,389.
0.0
0.0
0.0
0.0
-

1,714,912.
1,723,592.
3,101,489.
1,515,845.
1,544,673.
2,296,519.
199,067.
178,919.
804,970.
1,443,161.
1,719,524.
2,695,524.
944,883.
1,431,861.
136,884.
498,278.
287,663.
2,558,640.
271,751.
4,068.
405,965.
103,836.
97,080.
161,186.
28,433.
23,433.
77,595.
75,403.
73,647.
83,591.
111,737.
115,144.
153,916.
126,516.
111,415.
197,925.
125,579.
110,767.
195,046.
66,148. -183237
62,642.
9,575.
17,346.
31,374.
15,016.
0.0
24,776.
15,016.
0.0
0.0
441,492.
34,570. -302598

1,339,939.
1,174,861.
0.0
0.0
-66546
-48141
645,423.
554,942.

1,150,734.
755,197.
132,872.
0.0
41,557. -200583
520,555.
655,848.

2,011,741.
1,472,806.
538,935.
1,780,436.
-

70,280.
86,139.
-

231,305.
117,065.
-

86,139.
-

2011

117,065.
-

.13
4.23
.94
.56
.85
94.24

.21
9.16
2.03
1.04
.77
88.5

.03
7.38
.18
1.07
.55
84.15

.07
6.46
.98
1.12
.42
99.76

789,735.
0.0
6,492.
1,225,065.
.06
6.38
1.56
1.35
.74
86.91

1.21
-3.02
-6.2
-4.42
-

1.13
-2.09
-4.53
-3.4
-

2.59
-

6.33
-

-5.01
0.0
-4.87
71.7

-2.13
0.0
-3.21
60.46

.66
3.74
7.06
5.69
3.77 12.87
1.53
3.86
.7
3.77
64.29

1.18
-11.69
-21.95
-19.23
10.77
-.65
-10.63
.04
-12.14
42.64

2.1
3.27
8.68
8.11
1.26
3.54
1.32
2.02
-.2
1.89
44.78

Pangrio Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
177,187.
531,168.
177,187.
18,850.
0.0
37,835.
922.
0.0
0.0
0.0
36,913.
781,189.
162,691.
618,498.
87,727.
0.0
87,727.
-653894
108,500.
108,500.
0.0
-762394
773,844.
773,844.
0.0
738,932.
34,912.
16,727.
16,727.
5,371.
12,824.
3,500.
0.0
0.0
-566167
0.0
9,324.
162,691.
0.0
.69
0.0
3.6
.05
95.49

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
210

-1.33
4.16
-1.9
-2.37

1.66
0.0
.86
-60.27

Financial Statement Analysis of Non Financial Sector

2007
160,263.
531,205.
160,263.
16,924.
0.0
57,342.
667.
13,384.
1,586.
0.0
41,705.
882,031.
88,229.
793,802.
22,166.
0.0
22,166.
-686592
108,500.
108,500.
0.0
-795092
-

2008
150,498.
537,037.
150,498.
16,253.
0.0
101,518.
1,998.
53,338.
1.
0.0
46,181.
943,919.
22,595.
921,324.
0.0
0.0
0.0
-691903
108,500.
108,500.
0.0
-800403
-

557,037.
557,037.
0.0
576,043.

731,448.
731,448.
0.0
726,137.

-19006
17,368.
17,368.
1,035.
-30197
2,500.
0.0
0.0
-

-664426

-691903

5,311.
19,711.
19,711.
1,298.
-5312
0.0
0.0
0.0
-

2011

71,964.
0.0
550,771.
71,832.
7,852.
0.0
0.0
132.
162,631.
1,397.
122,220.
0.0
0.0
39,014.
425,027.
157,350.
267,676.
389,942.
22,005.
70,000.
0.0
0.0
297,937.
-580374
108,500.
108,500.
0.0
-688874
0.0
-688874
0.0

(Thousand Rupees)
2010
2011
65,688.
49,580.
0.0
551,220.
560,150.
65,630.
49,522.
7,316.
7,411,499.
0.0
0.0
58.
58.
204,345.
362,451.
15,699.
4,002.
134,045.
202,731.
0.0
20,234.
0.0
54,602.
135,484.
385,453.
598,939.
146,626.
144,414.
238,827.
454,525.
389,553.
379,686.
21,616.
14,843.
70,000.
70,000.
0.0
3,930.
3,930.
294,007.
290,913.
-504973
-566594
108,500.
108,500.
108,500.
108,500.
0.0
-613473
-675094
0.0
-613473
-675094
0.0

391,988.
391,988.
0.0
349,768.
328,897.
20,871.
42,220.
36,045.
1,193.
34,852.
57,339.
3,027.
977.
189,140.
1,960.
0.0
0.0
8,311.

1,069,717.
1,411,945.
1,069,717.
1,411,945.
0.0
951,816.
1,422,969.
859,047.
8,584.
92,769.
1,414,385.
117,901. -11024
35,997.
57,062.
1,663.
2,766.
34,334.
54,296.
66,445.
77,510.
7,017.
7,396.
1,613.
4,655.
86,098. -41363
10,697.
14,159.
10,850.
0.0
27,239.
19,676.

2009

-190432
-115420
-186908
22,005.
21,616.
14,843.
-32697
-5312
187,180.
64,551. -55522
88,229.
22,595.
179,355.
168,242.
159,257.
0.0

0.0

0.0
.19
.28
2.56
.07
103.41

0.0
.18
0.0
2.9
.11
99.27

0.0
.77
0.0
1.67
.38
89.23

.04
.66
0.0
3.96
.53
88.98

.04
.52
1.43
3.43
.61
100.78

0.0

0.0
0.0

0.0

0.0

0.0
0.0
0.0

0.0

0.0
0.0

-1.32
-13.96
4.51
4.91
-

-1.36
-2.26
.77
.78
-

41.62
-

13.71

-5.42
0.0
-3.01
-63.28

-1.4
77.74
-29.73
-42.87

-.73
0.0
-.49
-63.77

3.21
194.66
48.25
.01
17.25
-53.49

-1.53
34.12
-15.87
-56.3
6.95
7.98
54.38
8.05
.04
6.95
-46.54

-1.73
-12.13
7.72
27.36
6.96
-7.89
-2.93
.02
-5.12
-52.22

Sakrand Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
676,527.
1,187,314.
676,527.
36,888.
0.0
199,949.
45,306.
75,400.
1,091.
0.0
78,152.
581,844.
259,648.
322,196.
479,919.
0.0
479,919.
-185287
223,080.
223,080.
0.0
-408367
981,454.
981,454.
0.0
866,175.
115,279.
34,251.
34,251.
43,311.
39,394.
4,268.
0.0
0.0
294,632.
0.0
35,126.
259,648.
.08
4.41
.11
1.12
.34
88.25

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
211

-5.73
4.65
-20.23
22.67
13.02
4.01
0.0
1.57
-8.31

2011

Financial Statement Analysis of Non Financial Sector

2007
645,049.
1,190,478.
645,049.
35,604.
0.0
171,813.
27,545.
60,707.
24,618.
0.0
58,943.
743,404.
303,915.
439,489.
380,912.
0.0
380,912.
-307454
223,080.
223,080.
0.0
-530534
1,144,541.
1,144,541.
0.0
1,182,172.
-37631
40,856.
40,856.
40,032.
-117215
4,951.

(Thousand Rupees)
2008
2009
2010
2011
645,049.
1,277,019.
1,306,235.
1,267,526.
0.0
5,000.
1,190,478.
1,858,068.
1,906,277.
1,930,104.
645,049.
1,240,081.
1,220,658.
1,177,285.
35,604.
41,783.
67,631.
67,348.
0.0
0.0
0.0
36,063.
79,767.
89,458.
875.
812.
783.
171,813.
394,297.
484,621.
674,273.
27,545.
1,787.
24,742.
24,350.
60,707.
263,009.
99,076.
369,101.
24,618.
69,516.
300,920.
222,657.
0.0
0.0
0.0
58,943.
59,985.
59,882.
58,165.
743,404.
601,302.
540,120.
895,491.
303,915.
44,560.
206,310.
365,567.
439,489.
556,742.
333,810.
529,924.
380,912.
549,294.
671,403.
604,139.
257,964.
422,473.
383,291.
0.0
0.0
0.0
0.0
0.0
4,869.
5,266.
5,925.
380,912.
286,460.
243,664.
214,923.
-307454
520,720.
579,333.
442,169.
223,080.
223,080.
223,080.
223,080.
223,080.
223,080.
223,080.
223,080.
0.0
0.0
0.0
-530534
-157609
-76324
-192351
0.0
0.0
-157609
-76324
-192351
455,249.
432,577.
411,440.
1,144,541.
1,144,541.
0.0
1,182,172.

-37631
40,856.
40,856.
40,032.
-117215
4,951.
0.0
0.0
0.0
0.0
-

73,458.

920,514.
3,193,219.
3,125,044.
920,514.
3,193,219.
3,125,044.
0.0
0.0
903,447.
2,975,748.
3,083,836.
758,381.
2,600,676.
145,065.
375,072.
3,083,836.
17,067.
217,471.
41,208.
96,036.
95,284.
103,563.
753.
1,925.
3,300.
95,283.
93,359.
100,263.
108,833.
96,506.
103,015.
33,516.
85,999.
89,943.
33,028.
78,912.
83,486.
491,665.
47,753. -133212
4,609.
31,937.
31,256.
0.0
0.0
0.0
0.0
-95525
31,137. -212400

-122166
303,915.

73,458.
0.0
-122166
303,915.

1,070,014.
257,964.
487,056.
302,524.

.07
3.5
2.15
1.4
.23
103.29

.07
3.5
2.15
1.4
.23
103.29

.12
3.64
7.55
.55
.66
98.15

0.0

1,250,736.
1,046,308.
422,473.
383,291.
15,817. -164468
628,783.
748,858.
.6
2.69
9.42
1.78
.9
93.19

.28
2.88
7.12
1.61
.75
98.68

0.0

0.0

0.0

0.0
0.0

0.0
0.0

0.0
0.0

0.0
0.0

-3.66
-13.84
47.58
-63.69

-3.66
-14.35
38.12
-159.57
-

18.85

2.09
2.76
8.68
4.12

3.5
15.89
53.41
.03
21.83
23.34

32.23
1.61
1.5
-.18
.71
25.97

18.85

-10.24
0.0
-5.48
-13.78

2.21
39.52
461.08
86.

-10.24
0.0
-5.48
-13.78

3.39
-7.14
-26.08
-11.6
-

8.47
-.6
-4.26
-.06
-7.37
19.82

Saleem Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
18,892.
112,691.
18,892.
428.
0.0
18,377.
215.
0.0
0.0
0.0
18,162.
71,141.
26,721.
44,420.
256,767.
0.0
256,767.
-290639
17,016.
17,016.
0.0
-307655
0.0
0.0
0.0
0.0
0.0
1,101.
1,101.
0.0
1,182.
3.
0.0
0.0
-33872
0.0
1,179.
26,721.
0.0
0.0
.26
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-1.13
3.16
-.41
-3.43
0.0
.69
-170.8
212

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
18,484.

2009
18,065.

112,691.
18,484.
408.
0.0

112,691.
18,065.
420.
0.0

18,162.
0.0
0.0
0.0
0.0
18,162.
71,575.
25,778.
45,797.
256,767.

18,162.
0.0
0.0
0.0
0.0
18,162.
66,250.
20,941.
45,309.
256,767.

0.0

0.0

256,767.
256,767.
-291696
-286790
17,016.
17,016.
17,016.
17,016.
0.0
0.0
-308712
-303806
0.0
0.0
0.0
0.0

5,749.
5,749.
0.0
0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
4,656.
0.0
4,656.
3,259.
0.0
0.0

0.0
1,456.

5,749.
843.

1,456.

843.

0.0

0.0

0.0
0.0
0.0

4,906.
0.0
0.0
0.0

-1059

-4638

-30023
0.0

-1059
25,778.
0.0
0.0
.25

0.0
4,906.
20,941.
0.0
0.0
0.0
.16
.27
0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
4,656.
0.0
4,656.
3,259.
0.0
0.0
-4638

0.0
0.0
0.0
-

-34929

17,657.
0.0
112,691.
17,657.
419.
0.0
0.0
0.0
18,187.
26.
0.0
0.0
0.0
18,162.
70,505.
21,215.
49,290.
256,767.
256,767.
0.0
0.0
0.0
0.0
-291428
17,016.
17,016.
0.0
-308444
2,859.
-311303
0.0

(Thousand Rupees)
2010
2011
17,657.
17,657.
0.0
0.0
112,691.
112,691.
17,657.
17,657.
419.
419.
0.0
0.0
0.0
0.0
0.0
0.0
18,187.
18,188.
26.
26.
0.0
0.0
0.0
0.0
0.0
0.0
18,162.
18,162.
70,505.
70,506.
21,215.
21,215.
49,290.
49,291.
256,767.
256,767.
256,767.
256,767.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-291428
-291428
17,016.
17,016.
17,016.
17,016.
0.0
0.0
-308444
-308444
2,859.
2,859.
-311303
-311303
0.0
0.0

-6692

0.0
0.0
0.0
0.0
0.0
0.0
0.0
4,656.
0.0
4,656.
3,259.
0.0
0.0
-4656

0.0
0.0
0.0
-6692

0.0
0.0
0.0
-6692

-34661
-34661
-34661
256,767.
256,767.
256,767.
-4638
-4638
-4656
277,982.
277,982.
277,982.
0.0
-

0.0
-

0.0
.26
-

0.0
-

0.0
.26
-

0.0
.26
-

-1.13
-2.87
.36
3.08
-

-1.13
13.46
-1.7
-15.11

-1.12
-12.87
1.6
14.34
-

0.0
-.62
-171.42

85.34
0.0
2.88
-168.54

-1.12
-12.94
1.59
13.38
-

-.02
-2.73
-171.26

-1.12
-12.99
1.6
13.43
-

-.02
-2.73
-171.26

-.02
-2.74
-171.27

Sanghar Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
539,305.
671,082.
539,305.
31,020.
0.0

129,250.
5,407.
6,726.
33,400.
0.0
83,717.
425,580.
36,429.
389,151.
101,415.

0.0
101,415.
141,560.
119,460.
119,460.
0.0
22,100.

1,204,947.
1,177,209.
27,738.
1,026,227.

178,720.
51,155.
51,155.
33,973.
94,187.
5,716.
0.0
0.0

242,975.
0.0
88,471.
36,429.
.09
2.82
2.77
1.8
.3
85.17

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.72
14.14
78.65
41.06
179.15
7.82
0.0
7.41
11.85
213

Financial Statement Analysis of Non Financial Sector

2007
524,078.
684,769.
524,078.
29,541.
0.0
128,007.
2,647.
6,747.
5,720.
0.0
112,893.
461,541.
39,597.
421,944.
84,092.
0.0
84,092.
106,452.
119,460.
119,460.
0.0
-13008
-

(Thousand Rupees)
2008
2009
2010
2011
516,797.
496,254.
479,731.
790,401.
771.
0.0
4,918.
708,109.
713,300.
725,125.
1,026,991.
516,797.
493,260.
477,508.
749,087.
30,969.
28,746.
27,605.
3,611.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2,223.
2,223.
36,396.
121,230.
277,084.
240,366.
1,471,518.
14,410.
15,841.
6,148.
13,638.
30,697.
139,201.
88,197.
1,355,937.
11,366.
36,728.
49,519.
12,425.
0.0
0.0
0.0
0.0
64,757.
85,314.
96,502.
89,518.
410,771.
318,274.
179,171.
1,463,091.
51,818.
45,188.
60,693.
393,801.
358,953.
273,086.
118,478.
1,069,290.
64,970.
225,866.
189,251.
301,336.
44,782.
23,159.
85,089.
31,030.
0.0
0.0
0.0
0.0
0.0
0.0
14,826.
19,674.
25,284.
64,970.
135,228.
146,418.
190,963.
162,286.
229,198.
351,675.
497,492.
119,460.
119,460.
119,460.
119,460.
119,460.
119,460.
119,460.
119,460.
0.0
0.0
0.0
0.0
42,826.
60,114.
186,002.
208,989.
0.0
0.0
0.0
60,114.
186,002.
208,989.
49,624.
46,213.
169,043.

1,236,738.
1,236,738.
0.0
1,165,163.
-

2,170,042.
2,103,162.
66,880.
1,936,420.
-

71,575.
50,463.
-

233,622.
80,119.
-

50,463.
-

2011

80,119.
-

37,493.
-12373
5,847.
0.0
0.0
-

25,326.
134,232.
20,020.
0.0
0.0

1,679,489.
1,679,489.
0.0
1,453,985.
1,528,005.
-74020
225,504.
74,405.
1,419.
72,986.
101,012.
36,752.
34,490.
115,257.
47,600.
11,946.
0.0
148,862.

2,679,922.
1,498,297.
2,679,922.
1,498,297.
0.0
0.0
2,302,539.
1,252,341.
2,272,673.
1,190,280.
29,866.
62,061.
377,383.
245,956.
96,804.
94,353.
1,726.
2,213.
95,078.
92,140.
102,437.
118,513.
68,479.
94,682.
65,461.
92,309.
213,047.
64,344.
85,086.
25,917.
17,919.
0.0
0.0
0.0
50,456. -195779

190,544.
0.0
-18220
39,597.

227,256.
0.0
114,212.
51,818.

455,064.
44,782.
55,711.
89,970.

540,926.
23,159.
110,042.
83,852.

798,828.
85,089.
38,427.
478,890.

.02
3.03
.46
1.9
.28
94.21

.06
1.17
.52
3.4
.3
89.23

.17
2.19
2.19
2.17
.87
86.57

.31
2.56
1.85
3.72
1.34
85.92

.02
6.32
.83
.66
1.01
83.58

5.13
-1.87
-9.98
-5.71
-

2.93
20.81
99.9
64.26
-

183.3
-

70.69
-

-1.
0.0
-1.53
8.91

6.19
0.0
9.56
13.58

2.37
16.33
58.88
33.78
5.66
12.07
4.34
6.86
.27
5.66
19.19

1.05
28.53
73.35
42.78
7.14
30.39
4.25
7.95
.14
10.71
29.44

3.55
4.32
15.15
9.61
1.1
1.7
4.29
-.11
3.22
41.65

Shahmurad Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,644,117.
2,378,770.
1,644,117.
85,978.

1,084,727.
44,794.
343,217.
27,800.
244,060.
424,856.
1,458,903.
645,425.
813,478.
819,544.

819,544.
450,397.
211,187.
211,187.
239,210.

2,059,175.
1,383,875.
675,300.
1,794,604.

264,571.
83,091.
83,091.
176,425.
13,548.
9,826.

1,269,941.
3,722.
645,425.
.22
8.57
1.35
.75
.74
87.15

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.06
.5
3.07
1.31
6.
.66
0.0
.18
21.33
214

Financial Statement Analysis of Non Financial Sector

2007
1,681,232.
2,258,832.
1,681,232.
83,814.
0.0
0.0
1,180,102.
116,416.
670,708.
3,337.
4,215.
385,426.
1,617,653.
751,580.
866,073.
800,414.
0.0
0.0
800,414.
443,267.
211,187.
211,187.
0.0
0.0
232,080.
-

(Thousand Rupees)
2008
2009
2010
2011
1,693,408.
1,925,508.
1,965,810.
2,052,534.
58,460.
121,334.
111,568.
2,593,022.
2,042,232.
2,915,894.
3,113,246.
1,693,408.
1,860,224.
1,836,654.
1,933,173.
85,025.
62,347.
64,986.
100,974.
0.0
0.0
0.0
4,362.
4,601.
2,909.
2,462.
3,221.
4,884.
1,541,610.
1,135,115.
1,344,912.
2,828,149.
6,007.
9,644.
14,540.
12,852.
922,664.
831,543.
954,493.
2,496,514.
208,224.
8,478.
732.
15.
4,265.
0.0
0.0
721.
400,450.
285,450.
375,147.
318,047.
1,798,429.
1,011,608.
1,502,702.
2,878,103.
837,543.
906,015.
1,049,716.
1,418,226.
960,886.
105,593.
452,986.
1,459,877.
834,124.
1,156,738.
914,546.
1,042,477.
702,556.
510,166.
683,258.
271,360.
230,855.
230,855.
0.0
0.0
0.0
588.
533.
675.
834,124.
182,234.
172,992.
127,689.
602,465.
892,277.
893,474.
960,103.
211,187.
211,187.
211,187.
211,187.
211,187.
211,187.
211,187.
211,187.
0.0
0.0
0.0
391,278.
184,529.
208,586.
296,930.
0.0
0.0
184,529.
208,586.
296,930.
496,561.
473,701.
451,986.

1,687,217.
1,206,048.
481,169.
1,399,146.
-

2,454,893.
718,315.
1,736,578.
1,869,566.
-

288,071.
91,791.
-

585,327.
212,806.
-

91,791.
-

212,806.
-

218,853.
-8968
9,308.
0.0
0.0
0.0
0.0
-

0.0

2011

253,484.
158,224.
16,149.
21,119.
0.0

2,887,436.
1,904,101.
983,335.
2,283,799.
2,083,668.
200,131.
603,637.
181,637.
71,341.
110,296.
86,155.
329,080.
318,502.
115,012.
14,450.
31,678.
0.0
117,148.

4,440,856.
3,104,023.
1,336,833.
3,858,567.
3,659,110.
199,457.
582,289.
190,742.
64,677.
126,065.
93,576.
341,664.
335,159.
67,308.
44,357.
21,119.
0.0
386,004.

4,392,083.
2,502,848.
1,889,235.
3,637,734.

0.0

0.0

0.0
0.0

0.0
3,637,734.
754,349.
219,702.
86,974.
132,728.
105,079.
462,637.
450,171.
88,526.
43,970.
21,119.
0.0
146,731.

1,243,681.
0.0
-18276
751,580.

1,436,589.
0.0
120,956.
837,543.

2,049,015.
702,556.
68,884.
1,608,571.

1,808,020.
510,166.
1,832.
1,559,882.

2,002,580.
683,258.
23,437.
2,101,484.

.08
12.97
.2
.59
.73
82.93

.12
10.33
8.48
.76
.86
76.16

.02
11.4
.29
.94
1.12
79.09

.01
7.69
.02
1.34
.89
86.89

0.0
10.53
0.0
.9
.98
82.82

5.46
-.32
-2.01
-.71
-

4.37
5.19
30.26
11.81
6.73
2.66

2.52

-.53
0.0
-.87
20.99

6.45
0.0
6.73
28.53

2.43
3.65
15.39
6.6
3.17
3.47
1.36
3.98
.05
4.76
42.25

2.71
2.11
7.54
3.49
1.09
4.65
1.2
1.52
.16
1.09
42.31

4.08
2.16
9.55
4.65
2.11
1.76
1.2
2.02
.04
2.11
45.46

Shahtaj Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
287,539.
968,462.
287,539.
33,856.
0.0

475,708.
82,403.
197,104.
52,955.
26,393.
116,853.
189,957.
0.0
189,957.
0.0

0.0
0.0
573,290.
120,111.
120,111.
0.0
453,179.

1,886,594.
1,886,594.
0.0
1,661,597.

224,997.
85,503.
85,503.
17,644.
139,881.
52,000.
54,050.
0.0

573,290.
0.0
33,831.
0.0
.85
.94
2.81
2.47
2.5
88.07

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.33
17.99
25.22
25.22
1.63
9.57
7.41
0.0

215

Financial Statement Analysis of Non Financial Sector

2007
279,668.
987,319.
279,668.
33,114.
0.0
494,413.
298,801.
16,130.
9,667.
23,000.
146,815.
151,311.
0.0
151,311.
0.0
0.0
0.0
622,770.
120,111.
120,111.
0.0
502,659.
-

(Thousand Rupees)
2008
2009
2010
2011
284,369.
414,651.
416,621.
421,997.
4,159.
2,201.
1,864.
1,017,459.
1,095,086.
1,056,534.
1,080,204.
284,369.
347,352.
316,895.
312,976.
32,129.
32,114.
38,136.
35,968.
0.0
0.0
0.0
0.0
53,230.
76,064.
83,259.
9,910.
21,461.
23,898.
644,906.
820,806.
517,113.
923,837.
221,744.
41,558.
359,781.
86,612.
154,038.
10,140.
4,069.
609,844.
91,528.
394.
1,991.
56,088.
50,843.
0.0
0.0
0.0
126,753.
768,714.
151,272.
171,293.
223,353.
237,982.
85,607.
156,159.
0.0
0.0
0.0
0.0
223,353.
237,982.
85,607.
156,159.
0.0
71,827.
69,302.
76,524.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
17,624.
18,254.
20,075.
0.0
54,203.
51,048.
56,449.
705,922.
925,648.
778,825.
1,113,151.
120,111.
120,111.
120,111.
120,111.
120,111.
120,111.
120,111.
120,111.
0.0
0.0
0.0
0.0
585,811.
779,570.
627,488.
986,919.
27,534.
27,534.
27,534.
752,036.
599,954.
959,385.
25,967.
31,226.
6,121.

2,502,506.
2,502,506.
0.0
2,245,525.
-

1,993,838.
1,993,838.
0.0
1,681,710.
-

256,981.
101,316.
-

312,128.
114,943.
-

101,316.
-

114,943.
-

19,172.

21,011.
-

150,533.
54,508.
54,050.
0.0
-

2011

186,876.
68,620.
60,056.
0.0
-

622,770.
0.0
41,975.
0.0

705,922.
0.0
58,200.
0.0

2.19
.77
.39
3.23
3.27
89.73

1.63
1.05
4.59
2.15
2.89
84.35

2,828,705.
3,654,162.
4,459,414.
2,828,705.
3,654,162.
4,459,414.
0.0
0.0
2,245,547.
3,561,729.
3,828,790.
1,840,204.
3,309,252.
29,918.
405,343.
252,477.
3,798,872.
583,158.
92,433.
630,624.
144,575.
123,178.
180,293.
6,545.
6,373.
7,393.
138,030.
116,805.
172,900.
88,666.
173,030.
207,148.
23,700.
61,056.
82,932.
20,976.
57,148.
79,277.
442,365. -44779
456,511.
141,274.
36,712.
88,275.
120,111.
0.0
150,139.
0.0
0.0
0.0
-284224
647,694. -237141
997,475.
848,127.
0.0
0.0
180,980. -81491
0.0
0.0
.18
.84
.01
2.29
3.45
79.38

4.23
1.67
.05
3.91
6.04
97.47

1,189,675.
0.0
218,097.
0.0
.91
1.86
1.26
3.31
5.92
85.86

.24
19.58
25.17
25.17
1.78
155.15
-

.32
21.94
28.13
28.13
1.97
12.94
-

6.02
0.0
7.99
51.85

9.37
0.0
9.85
58.77

.33
40.87
54.23
51.94
2.51 278.96
22.09
15.64
2.09
25.07
77.07

.2
-4.13
-5.25
-4.85
898.05
.22
-1.23
-1.53
-6.78
64.84

.21
40.05
48.26
44.8
2.45
7.31
6.76
10.24
-1.22
30.66
92.68

Shakarganj Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
5,079,931.
6,764,114.
5,079,931.
313,234.

6,638,959.
190,335.
1,823,806.
217,227.
3,290,447.
1,117,144.
7,113,996.
6,159,896.
954,100.
1,245,175.

1,245,175.
3,359,719.
579,365.
579,365.
2,780,354.

6,013,939.
5,299,179.
714,760.
5,747,356.

266,583.
431,226.
431,226.
701,689.
-286527
34,700.

4,604,894.
-321227
6,159,896.
.52
11.67
3.61
.51
.93
95.57

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.49
-2.62
-8.8
-5.83
3.3
-4.76
0.0
-5.54
57.99
216

Financial Statement Analysis of Non Financial Sector

2007
5,983,513.
7,967,517.
5,982,153.
362,753.
0.0
1,360.
4,927,000.
493,241.
1,069,930.
71,073.
1,806,897.
1,485,859.
4,554,642.
3,903,927.
650,715.
1,930,499.
0.0
0.0
1,930,499.
4,425,372.
579,365.
579,365.
0.0
0.0
3,846,007.
-

(Thousand Rupees)
2008
2009
2010
2011
6,925,553.
8,572,876.
7,614,437.
5,917,652.
350,667.
88,462.
272,162.
9,363,532.
9,143,508.
7,438,004.
8,285,403.
6,923,559.
6,385,995.
4,383,526.
4,969,048.
383,133.
392,646.
359,177.
298,818.
1,994.
1,001.
1,249.
1,137.
553,296.
415,682.
618,052.
1,281,917.
2,725,518.
57,253.
5,481,235.
1,600,545.
657,449.
2,085,396.
346,394.
24,508.
33,514.
119,169.
120,258.
1,022,608.
131,989.
1,085,822.
407,578.
13,696.
14,494.
491,646.
1,325,349.
260,322.
143,976.
3,281,656.
279,411.
333,476.
388,759.
6,394,840.
7,365,047.
6,567,466.
7,376,772.
5,137,156.
5,818,101.
4,637,080.
5,002,221.
1,257,684.
1,546,946.
1,930,386.
2,374,551.
2,347,867.
1,454,847.
1,211,387.
388,543.
1,437,221.
1,196,503.
388,042.
0.0
0.0
0.0
0.0
0.0
12,314.
12,577.
501.
2,347,867.
5,312.
2,307.
3,664,081.
1,353,527.
493,033.
237,733.
695,238.
695,238.
695,238.
695,238.
695,238.
695,238.
695,238.
695,238.
0.0
0.0
0.0
-1901630
-1874183
2,968,843. -1041155
0.0
452,935.
376,679.
-1041155
-2354565
-2250862
1,699,444.
1,699,425.
1,416,678.

7,006,433.
6,198,047.
808,386.
6,789,474.
-

8,807,730.
6,753,788.
2,053,942.
8,103,625.
-

216,959.
721,910.
-

704,105.
1,007,288.
-

721,910.
-

908,988.
42,336.
57,936.
0.0

0.0
0.0
-

0.0

1,007,288.
-

922,521.

2011

1,008,589.
-974625
21,445.
0.0
0.0
-

5,101,667.
7,794,204. 13,363,264.
3,898,835.
6,790,177.
9,833,738.
1,202,832.
1,004,027.
3,529,526.
4,783,640.
7,081,788. 12,069,279.
3,188,033.
5,170,314. 11,193,252.
1,595,607.
1,911,474.
876,027.
318,027.
712,416.
1,293,985.
926,536.
474,815.
707,422.
117,110.
93,100.
245,291.
809,426.
381,715.
462,131.
407,017.
348,220.
470,643.
1,259,768.
991,063.
945,255.
1,243,602.
963,565.
886,049.
-1841910
-675690
-48195
18,835.
53,500.
158,309.
0.0
0.0
0.0
0.0
-304480
898,273. -1079975

6,355,871.
6,011,948.
2,808,374.
1,704,420.
626,276.
0.0
0.0
1,437,221.
1,196,503.
388,042.
-1860745
-729190
-206504
808,716. -996070
3,903,927.
5,137,156.
7,255,322.
5,833,583.
5,390,263.
.52
13.17
1.01
.64
1.08
96.9

.33
11.45
4.63
.71
.86
92.01

.04
24.69
.27
.5
.22
93.77

.03
12.72
.19
.94
.1
90.86

.08
7.07
3.68
1.67
.28
90.32

0.0

0.0
0.0
0.0

0.0

0.0
0.0

1.47
8.03
23.35
16.59
14.96 6.55
12.97
0.0
14.96
76.38

2.39
-8.36
-24.1
-15.76

6.52
-16.31
-73.42
-41.77
-

73.24
-11.07
0.0
-14.33
52.7

15.78
-7.33
-73.18
-29.95

32.66
-.59
-13.19
-4.14

59.05
.3
-8.67
.12
-10.49
7.09

12.31
.95
-.36
-.14
-2.97
3.42

4.99
-.48
-36.1
-.03
-26.76
19.47

Sindh Abadgar'S Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
277,445.
792,065.
277,445.
27,336.
0.0

221,890.
5,036.
2,326.
24,042.
0.0
190,486.
277,388.
38,141.
239,247.
136,479.

0.0
136,479.
85,468.
104,250.
104,250.
0.0
-18782

1,049,480.
1,049,480.
0.0
939,580.

109,900.
36,846.
36,846.
30,894.
45,089.
4,700.
10,425.
0.0

221,947.
0.0
29,964.
38,141.
.1
2.94
2.29
2.1
.8
89.53

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.84
8.72
69.08
20.01
3.87
451.2
4.3
0.0
3.87
8.2
217

Financial Statement Analysis of Non Financial Sector

2007
260,102.
798,678.
260,102.
27,806.
0.0
352,222.
18,455.
139,581.
0.0
0.0
194,186.
513,478.
77,651.
435,827.
50,000.
0.0
50,000.
48,846.
104,250.
104,250.
0.0
-55404
-

(Thousand Rupees)
2008
2009
2010
2011
365,605.
764,680.
728,114.
800,693.
0.0
0.0
92,572.
932,905.
943,790.
973,625.
1,036,673.
365,605.
763,221.
727,232.
707,051.
28,724.
43,801.
76,117.
72,936.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1,459.
882.
1,070.
421,095.
154,991.
171,862.
782,708.
14,996.
74,059.
51,193.
59,301.
177,131.
6,360.
5,753.
572,595.
79.
611.
671.
569.
0.0
0.0
0.0
0.0
228,889.
73,962.
114,245.
150,243.
511,438.
145,588.
133,524.
655,424.
55,000.
55,000.
30,000.
55,000.
456,438.
90,588.
103,524.
600,424.
145,000.
472,482.
424,547.
528,067.
90,000.
60,000.
180,000.
50,000.
50,000.
50,000.
0.0
0.0
0.0
0.0
0.0
673.
967.
145,000.
332,482.
313,874.
297,100.
130,262.
301,601.
341,905.
399,910.
104,250.
104,250.
104,250.
104,250.
104,250.
104,250.
104,250.
104,250.
0.0
0.0
0.0
0.0
-96043
-6887
26,012. -170904
0.0
0.0
0.0
-170904
-96043
-6887
368,255.
333,698.
302,547.

867,894.
867,894.
0.0
824,418.
-

1,020,292.
776,319.
243,973.
911,977.

1,697,436.
1,697,436.
0.0
1,566,047.
1,497,722.
68,325.
131,389.
59,977.
1,658.
58,320.
78,089.
49,850.
49,068.
28,128.
16,832.
10,425.
0.0
71,685.

1,469,471.
1,469,471.
0.0
1,306,108.
5,529.
1,300,579.
163,363.
62,460.
2,202.
60,258.
97,057.
45,247.
44,500.
69,030.
17,374.
0.0
0.0
18,495.

275,262.
774,083.
0.0
90,000.
5,819. -103881
55,000.
145,000.

766,452.
60,000.
871.
90,000.

927,977.
180,000.
51,656.
235,000.

.39
2.94
.04
1.89
1.29
92.26

.09
3.08
.04
.93
1.19
88.88

108,315.
71,163.
-

34,549.
-

1,108,759.
1,108,759.
0.0
995,246.
749,521.
245,725.
113,513.
195,660.
1,715.
193,945.
70,783.
34,635.
34,133.
-86831
17,050.
0.0
0.0
114,995.

43,476.
34,549.

71,163.
-

33,694.
-12242
3,746.
0.0
0.0
98,846.
0.0
-15988
77,651.
.04
3.88
0.0
1.42
.69
94.99

2011

31,647.
8,259.
2,440.
0.0
0.0

.03
3.1
.01
1.3
.82
89.38

.51
3.12
.06
1.21
1.06
89.76

11.54
-2.2
-18.23
-7.63
-

5.04
1.18
9.22
4.42
-

6.22
-

5.76

-1.41
0.0
-1.53
4.69

2.05
-10.18
-40.21
-16.55

.81
0.0
.56
12.5

174.33
-1.54
-7.83
.19
-9.96
28.93

1.63
3.09
8.74
3.65
1.08
295.06
1.57
1.66
.13
1.08
32.8

2.96
5.56
18.61
8.15
2.57
2.55
4.7
.02
4.96
38.36

Tandlianwala Sugar Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,051,617.
3,560,924.
3,051,617.
67,074.

2,343,197.
345,928.
1,192,408.
25,380.
779,481.
2,735,617.
1,791,638.
943,979.
1,531,984.

1,531,984.
1,127,213.
700,139.
700,139.
427,074.

3,460,480.
3,460,480.
3,068,322.

392,158.
108,065.
108,065.
215,776.
72,270.
15,302.

2,659,197.
56,968.
1,791,638.
.14
6.24
.73
.64
.86
88.67

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.79
1.63
6.47
2.93
2.9
2.09
0.0
.81
16.1
218

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

2007
3,867,656.
4,440,465.
3,867,656.
509,307.
0.0
3,394,176.
60,739.
1,921,053.
17,136.
0.0
1,395,248.
3,670,658.
1,978,366.
1,692,292.
1,839,953.
0.0
1,839,953.
1,751,221.
1,177,063.
1,177,063.
0.0
574,158.
-

(Thousand Rupees)
2008
2009
2010
2011
5,324,185.
5,530,638.
5,472,396.
5,687,457.
0.0
6,869.
403,154.
6,017,761.
6,297,399.
6,527,632.
6,602,906.
5,324,185.
5,471,066.
5,415,846.
5,221,206.
125,383.
129,755.
289,370.
280,281.
0.0
0.0
0.0
0.0
0.0
59,573.
49,681.
63,097.
3,486,798.
2,776,644.
984,104.
3,520,981.
11,214.
25,215.
52,417.
233,938.
2,764,217.
2,060,184.
412,298.
2,527,963.
22,775.
0.0
0.0
9,453.
0.0
0.0
0.0
688,592.
691,245.
519,389.
749,627.
5,725,387.
2,906,310.
2,142,819.
4,379,751.
2,386,001.
2,208,045.
1,002,211.
2,855,165.
3,339,386.
698,264.
1,140,608.
1,524,586.
1,553,826.
3,835,424.
2,418,612.
2,439,062.
758,522.
380,244.
149,976.
456,574.
566,818.
708,787.
0.0
0.0
0.0
43,790.
59,743.
77,731.
1,553,826.
2,576,538.
1,411,807.
1,502,568.
1,531,770.
1,565,548.
1,895,069.
2,389,625.
1,177,063.
1,177,063.
1,177,063.
1,177,063.
1,177,063.
1,177,063.
1,177,063.
1,177,063.
0.0
0.0
0.0
354,707.
388,485.
718,006.
1,212,562.
290,742.
290,742.
290,742.
97,743.
427,264.
921,820.
0.0
0.0

2,415,169.
2,415,169.
0.0
1,919,316.

0.0

510,658.
-139425
0.0
5,885.
0.0
-

5,805,824.
5,805,824.
0.0
4,748,963.
3,400,655.
1,348,308.
1,056,861.
244,179.
28,847.
215,333.
261,941.
690,607.
678,924.
124,729.
29,717.
0.0
0.0
574,732.

3,591,174.
3,085,596.
0.0
0.0
13,569. -145310
1,978,366.
2,386,001.

5,400,972.
758,522.
95,012.
2,966,568.

4,313,681.
380,244.
509,476.
1,382,455.

4,828,687.
149,976.
494,556.
3,005,141.

.01
11.9
0.0
.7
.96
81.8

.02
4.87
0.0
1.58
.46
86.51

.06
7.47
.12
.84
.8
81.47

2,694,583.
2,694,583.
0.0
2,176,382.
-

495,853.
111,917.
-

518,201.
152,773.
-

111,917.
-

24,127.
10,558.
0.0
0.0
-

0.0

152,773.
-

363,592.

0.0
0.0

2011

.02
15.05
.71
.33
.92
79.47

.01
18.95
.85
.31
.61
80.77

10,169,643.
7,759,465.
10,169,643.
7,759,465.
0.0
8,798,140.
6,321,536.
5,887,776.
4,917,374.
2,910,364.
1,404,162.
1,371,503.
1,437,929.
309,976.
347,382.
49,087.
101,796.
260,889.
245,586.
304,184.
332,026.
495,006.
579,568.
472,710.
541,086.
579,487.
517,395.
70,011.
22,839.
0.0
0.0
3,067,899. -1233893

0.0
0.0

0.0

0.0

0.0

0.0

0.0

0.0
0.0

3.15
.38
1.68
.77
-

4.75
-1.73
-8.49
-4.18
-23.69 .97

1.26

1.
0.0
.12
14.88

-5.17
0.0
-1.18
13.01

4.31
1.46
8.05
2.94

2.41
7.85
33.49
11.93

2.82
1.18
2.15
.09
.81
13.3

24.67
2.23
5.7
.67
4.33
16.1

2.85
6.61
24.15
11.32
-

3.07
1.96
6.67
-.18
4.2
20.3

The Frontier Sugar Mills & Distillery Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
32,436.
116,571.
32,436.
3,624.
0.0

215,137.
140,376.
4,890.
29.
16,872.
52,970.
26,741.
0.0
26,741.
0.0

0.0
0.0
220,832.
14,000.
14,000.
0.0
206,832.

19,715.
19,715.
0.0
44,282.

-24567
8,292.
8,292.
321.
-11485
94.
0.0
0.0

220,832.
0.0
-11579
0.0
5.88
1.63
.15
.08
8.05
224.61

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.12
-4.49
-4.91
-4.91
4.03
-58.26
0.0
-8.27
157.74
219

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
29,207.

26,291.
-

116,571.
29,207.
3,229.
0.0
-

116,559.
26,291.
2,904.
0.0
-

184,822.
109,916.
2,097.
29.
20,269.
52,511.
25,680.
0.0
25,680.
0.0
-

167,085.
52,888.
2,097.
29.
17,482.
94,589.
16,614.
0.0
16,614.
0.0
-

0.0

0.0
-

0.0
188,349.
14,000.
14,000.
0.0
174,349.
-

0.0
176,762.
14,000.
14,000.
0.0
162,762.
-

23,175.
23,175.
0.0
58,494.
-

-35319

572.
572.
0.0
14,970.
-14398

9,008.
-

-35785

1,268.
1,268.
0.0
10,424.
0.0
10,424.
-9156

8,178.
8,178.
-

1,357.

33.
-8800

103.
0.0
0.0
-

-7960

-7199
0.0
0.0
0.0

3,959.
3,959.
0.0
11,919.
2,097.
9,822.

9,096.
0.0
9,096.
11,525.
41.
0.0

9,008.

(Thousand Rupees)
2009
2010
2011
150,168.
139,775.
119,583.
0.0
0.0
0.0
194,653.
194,653.
194,653.
111,338.
108,035.
105,065.
2,671.
3,303.
2,970.
0.0
0.0
0.0
15,338.
16,048.
14,426.
23,492.
15,692.
92.
113,424.
115,656.
126,616.
68,161.
24,836.
39,261.
2,097.
0.0
0.0
0.0
0.0
0.0
0.0
50,204.
47,018.
43,166.
40,616.
40,337.
3,815.
3,552.
3,629.
0.0
0.0
0.0
3,815.
3,552.
3,629.
11,699.
3,887.
3,459.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
2,496.
3,887.
3,459.
9,203.
0.0
0.0
248,078.
247,992.
239,111.
14,000.
14,000.
14,000.
13,500.
13,500.
13,500.
500.
500.
500.
132,763.
134,999.
128,207.
134,000.
0.0
0.0
-1237
134,999.
128,207.
101,315.
98,993.
96,904.
0.0
0.0
0.0
6,702.
6,702.
0.0
-6702
9,251.
0.0
9,251.
10,600.
22.
0.0
-9999

10,860.
0.0
0.0
-23329
-6157

7,135.
0.0
7,135.
5,532.
26.
0.0
-7158

0.0
0.0
0.0

101.
0.0
0.0
-10282

188,349.
176,762.
259,777.
251,879.
242,570.
0.0
0.0
0.0
0.0
0.0
-35888
-8800
-18059
-9999
-7259
0.0
0.0
0.0
0.0
0.0
5.07
5.86
.13
.11
7.2
252.4

4.24
5.77
5.07
0.0
10.06
2,617.13

17.87
3.23
0.0
0.0
29.73
822.08

21.13
.56
0.0
.02
32.56
301.06

23.77
0.0
34.89
-

.14
-15.5
-17.49
-17.49
-

.09
-4.32
-4.82
-4.82
-

11.05
-

.03
-3.85
-4.03
-3.91

.27

-154.41
0.0
-25.63
134.54

.06
-3.15
-3.39
-3.3

.6
-

-1,538.46
0.0
-6.29
126.26

-567.74
-1.5
-13.38
183.76

.03
-2.85
-2.94
-2.9

-252.56
-.83
-7.41
183.7

-1.45
-5.38
177.12

The Premier Sugar Mills & Distillery Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
307,633.
653,964.
307,633.
25,124.
0.0

923,798.
466,913.
75,159.
25,877.
224,993.
130,856.
204,954.
69,883.
135,071.
0.0

0.0
0.0
1,026,477.
37,500.
37,500.
0.0
988,977.

240,742.
211,434.
29,308.
262,694.

-21952
33,666.
33,666.
3,838.
48,251.
1,800.
0.0
0.0

1,026,477.
0.0
46,451.
69,883.
3.5
1.59
10.75
.2
4.51
109.12

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.2
4.06
4.76
4.76
3.2
20.04
0.0
12.39
273.73
220

Financial Statement Analysis of Non Financial Sector

2007
282,032.
651,100.
282,032.
22,737.
0.0
787,130.
320,822.
117,838.
11,863.
224,965.
111,642.
111,168.
0.0
111,168.
0.0
0.0
0.0
957,994.
37,500.
37,500.
0.0
920,494.
-

(Thousand Rupees)
2008
2009
2010
2011
256,264.
3,467,629.
1,158,556.
1,203,934.
45,813.
0.0
0.0
683,062.
4,464,103.
934,627.
934,873.
256,264.
3,250,880.
620,264.
673,845.
23,496.
330,145.
64,351.
57,657.
0.0
900.
0.0
0.0
100,489.
199,690.
170,006.
69,547.
338,602.
360,083.
992,902.
1,557,115.
512,027.
1,073,399.
106,042.
201,472.
55,644.
49,281.
319,696.
913,002.
120,797.
668,598.
16,297.
55,446.
29,555.
24,472.
104,206.
0.0
191,852.
178,416.
446,661.
387,195.
114,179.
152,632.
257,529.
1,367,224.
35,273.
858,848.
157,795.
921,412.
0.0
797,126.
99,734.
445,812.
35,273.
61,722.
0.0
1,173,592.
207,256.
114,601.
947,499.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
19,970.
20,289.
23,241.
0.0
206,123.
186,967.
91,360.
991,637.
2,483,928.
1,428,054.
1,303,884.
37,500.
37,500.
37,500.
37,500.
37,500.
37,500.
37,500.
37,500.
0.0
0.0
0.0
0.0
954,137.
1,127,056.
1,041,751.
877,501.
71,477.
1.
1.
1,055,579.
1,041,750.
877,500.
1,319,372.
348,803.
388,883.

276,709.
276,709.
0.0
394,304.

434,778.
434,778.
0.0
466,498.

-117595
38,597.
38,597.
9,571.
-104827
1,349.
0.0
0.0
-

-31720
55,055.
55,055.
10,657.
-5396
302.
0.0
0.0
-

4,500,780.
297,209.
395,059.
4,500,780.
297,209.
370,882.
0.0
0.0
24,177.
4,074,153.
383,608.
732,500.
2,531,928.
112,304.
13,487.
1,542,225.
271,304.
719,013.
-337441
426,627. -86399
151,621.
67,304.
58,113.
17,496.
1,258.
1,846.
134,125.
66,046.
56,267.
270,088.
78,197.
96,275.
401,842.
4,169.
68,670.
397,349.
2,377.
67,671.
-85738
20,424. -327986
36,086.
3,051.
1,709.
11,250.
3,750.
0.0
0.0
0.0
0.0
-878804
1,489,698. -12526

957,994.
991,637.
3,657,520.
0.0
0.0
947,499.
-106176
-5698
-133074
0.0
157,795.
1,868,911.
5.02
3.46
4.29
.26
7.08
142.5

2011

.88
2.45
3.75
.35
3.86
107.3

.19
8.93
1.23
.9
1.14
90.52

1,635,310.
1,418,485.
0.0
0.0
13,623. -329695
0.0
797,126.
7.85
1.4
9.94
.18
14.52
129.07

.29
17.38
6.19
.17
1.25
185.42

.12
-9.11
-10.56
-10.56
-

.26
-.47
-.55
-.55
-

2.35
-

1.36
-

-37.88
0.0
-28.31
255.47

-1.24
0.0
-1.52
264.44

1.02
-2.73
-4.93
-3.69
-10.83
4.93
.78
-1.9
.59
-32.49
662.38

.17
.61
1.04
.77
4.63
2.46
9.59
6.87
-.05
4.63
380.81

.75
-16.62
-24.01
-21.48
.59
-3.85
-83.02
-.9
-87.92
347.7

The Thal Industries Corporation Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
660,818.
1,167,856.
660,818.
72,100.
0.0

516,790.
16,403.
230,743.
15,944.
0.0
253,700.
911,217.
128,133.
783,084.
10,897.

0.0
10,897.
255,494.
150,232.
150,232.
0.0
105,262.

1,900,927.
1,900,927.
0.0
1,787,092.

113,835.
48,731.
48,731.
55,331.
23,263.
8,383.
15,023.
0.0

266,391.
0.0
-143
128,133.
.04
2.91
.84
1.61
.57
94.01

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.61
2.08
8.83
8.07
.99
8.24
1.22
0.0
.99
17.01
221

Financial Statement Analysis of Non Financial Sector

2007
664,492.
1,241,032.
664,492.
70,645.
0.0
556,478.
53,289.
200,583.
20,184.
0.0
282,422.
966,525.
33,584.
932,941.
0.0
0.0
0.0
254,445.
150,232.
150,232.
0.0
104,213.
-

(Thousand Rupees)
2008
2009
2010
2011
1,086,852.
1,727,795.
1,706,550.
1,657,026.
34,770.
11,440.
571,110.
1,730,119.
2,468,703.
2,621,906.
2,697,887.
1,086,852.
1,685,973.
1,687,123.
1,082,591.
67,705.
139,970.
152,053.
148,966.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
7,052.
7,987.
3,325.
1,028,665.
1,245,822.
1,305,885.
2,368,028.
117,795.
24,824.
16,195.
72,920.
278,566.
191,207.
600,995.
1,383,590.
76,375.
103,130.
188,526.
153,811.
0.0
0.0
0.0
0.0
555,929.
926,660.
500,168.
757,707.
1,750,319.
1,199,468.
1,207,049.
2,120,560.
334,834.
545,371.
798,061.
1,411,499.
1,415,485.
654,097.
408,988.
709,061.
17,500.
1,253,112.
1,195,204.
1,133,150.
382,500.
425,000.
355,000.
724,800.
574,800.
574,800.
0.0
0.0
0.0
0.0
9,776.
14,114.
18,877.
17,500.
136,036.
181,290.
184,473.
347,698.
521,037.
610,182.
771,344.
150,232.
150,232.
150,232.
150,232.
150,232.
150,232.
150,232.
150,232.
0.0
0.0
0.0
0.0
197,466.
370,805.
459,950.
621,112.
0.0
0.0
0.0
370,805.
459,950.
621,112.
0.0
0.0
0.0

1,971,003.
1,971,003.
0.0
1,850,401.
-

2,434,136.
2,023,365.
410,771.
2,144,556.
-

120,602.
54,921.
-

289,580.
97,941.
-

54,921.
-

97,941.
-

43,124.

55,191.
-

28,002.
8,603.
0.0
0.0
-

2011

151,388.
4,108.
22,535.
0.0
-

3,804,992.
6,535,895.
7,378,520.
3,804,992.
6,535,895.
7,378,520.
0.0
0.0
0.0
3,145,049.
5,848,897.
6,427,704.
2,972,104.
5,186,204.
6,588,841.
172,945.
662,693. -161137
659,944.
686,998.
950,816.
168,804.
173,214.
201,379.
16,814.
25,147.
45,948.
151,990.
148,067.
155,431.
212,312.
207,380.
235,449.
196,218.
302,048.
478,865.
192,462.
297,278.
472,177.
307,072.
229,991.
290,741.
61,211.
65,545.
104,806.
30,046.
22,535.
30,046.
0.0
0.0
0.0
176,694. -4740
194,933.

254,445.
0.0
19,399.
33,584.

365,198.
0.0
124,745.
334,834.

1,774,149.
382,500.
215,815.
927,871.

1,805,386.
425,000.
141,911.
1,223,061.

1,904,494.
355,000.
155,889.
1,766,499.

.08
2.19
1.02
1.61
.58
93.88

.11
2.27
3.14
1.15
.59
88.1

.11
5.16
2.71
1.28
1.04
82.66

.17
4.62
2.88
2.17
1.08
89.49

.11
6.49
2.08
1.83
1.12
87.11

3.8
2.33
10.98
10.75

5.08
9.07
50.28
48.86
6.54
8.74

9.83
-

1.42
0.0
1.29
16.94

6.22
0.0
9.8
23.14

4.71
12.07
70.69
28.71
8.18
19.9
2.6
8.07
.07
16.37
34.68

3.94
7.68
40.66
12.85
7.3
10.88
1.77
3.52
0.0
10.95
40.62

4.22
8.26
42.09
15.67
6.19
5.33
1.62
3.94
.06
12.38
51.34

OTHER FOOD PRODUCTS N.E.S.

Other food products n.e.s - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
16,484,695.
25,091,191.
16,010,489.
1,395,590.
474,206.

16,804,432.
1,836,260.
8,172,484.
1,602,062.
267,752.
4,925,874.
22,962,630.
6,858,090.
16,104,540.
1,219,480.

0.0
1,219,480.
9,107,017.
2,553,738.
2,480,738.
73,000.
6,553,279.

74,516,656.
72,399,071.
2,117,585.
55,506,952.

19,009,704.
12,090,737.
12,090,737.
810,978.
6,669,456.
1,651,840.
9,127,743.
19,882.

10,326,497.
0.0
-4110127
6,858,090.
.16
1.09
2.15
2.24
.73
74.49

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.66
22.11
76.19
61.19
.55
9.12
8.95
0.0
20.23
36.71
224

Financial Statement Analysis of Non Financial Sector

2007
20,181,331.
30,647,854.
19,756,046.
1,882,868.
425,285.
20,540,104.
1,566,248.
10,305,747.
2,024,506.
683,983.
5,959,620.
27,733,234.
7,093,942.
20,639,292.
1,584,278.
0.0
1,584,278.
11,403,923.
2,585,091.
2,512,091.
73,000.
8,818,832.
-

2011

(Thousand Rupees)
2008
2009
2010
2011
25,079,725. 29,191,247. 33,496,637. 43,936,976.
2,208,510.
4,766,036.
8,590,930.
37,153,028. 40,195,814. 41,825,854. 50,057,004.
24,702,948. 24,430,171. 25,904,023. 31,876,026.
2,013,026.
2,465,055.
2,520,626.
3,041,498.
376,777.
632,242.
1,124,240.
1,564,825.
1,044,174.
1,182,558.
1,303,407.
876,150.
519,780.
601,788.
25,781,930. 24,416,646. 31,515,369. 41,434,820.
1,013,691.
1,940,408.
3,393,252.
3,084,083.
14,327,898. 14,462,649. 18,761,302. 25,144,966.
2,741,646.
2,547,246.
2,510,216.
3,494,089.
1,416,454.
62,914.
205,751.
189,980.
6,282,241.
5,403,429.
6,644,848.
9,521,702.
28,724,729. 24,892,120. 31,456,764. 42,851,430.
10,635,396.
4,881,796.
8,614,238. 15,705,553.
18,089,333. 20,010,324. 22,842,526. 27,145,877.
7,080,574. 10,090,066. 10,900,119. 14,954,744.
1,392,772.
1,307,538.
3,687,629.
4,270,975.
5,683,835.
6,200,202.
0.0
0.0
0.0
327,060.
678,260.
1,015,496.
7,080,574.
4,099,259.
3,230,486.
4,051,417.
15,056,352. 18,625,707. 22,655,123. 27,565,622.
2,566,074.
2,699,823.
3,079,639.
3,124,127.
2,488,291.
2,627,823.
3,079,639.
3,124,127.
77,783.
72,000.
0.0
12,490,278. 13,138,295. 16,704,559. 21,566,721.
724,519.
1,715,548.
1,722,076.
4,293,461. 14,982,136. 19,962,223.
2,787,589.
2,870,925.
2,874,774.

89,774,335. 113,856,154. 116,783,931. 140,685,143. 173,198,140.

86,734,652. 110,365,316. 109,229,744. 131,104,793. 165,347,830.
3,039,683.
3,490,838.
7,554,187.
9,580,350.
7,850,310.
66,392,688. 85,957,901. 83,107,826. 101,956,628. 125,758,296.
62,662,878. 81,294,494. 99,317,484.
20,444,948. 20,662,134. 26,440,812.
23,381,647. 27,898,253. 33,676,105. 38,728,515. 47,439,844.
14,868,516. 17,837,319. 20,757,412. 22,492,628. 27,320,833.
15,534,431. 17,246,560. 20,604,123.
14,868,516. 17,837,319.
5,222,981.
5,246,068.
6,716,710.
6,979,956.
7,552,042.
9,492,280.
1,099,199.
1,636,703.
1,717,923.
1,537,383.
2,243,775.
746,218.
784,797.
1,892,642.
7,902,242.
9,091,434. 11,979,800. 15,370,582. 19,020,213.
2,045,435.
2,964,363.
3,787,561.
4,609,374.
5,018,555.
3,707,491.
4,103,602.
4,094,125.
8,588,358.
9,150,918.
46,699.
50,614.
1,309,787.
46,095.
52,611.
13,873,249. 13,661,340. 15,331,740.
12,988,201.
0.0
2,149,316.
7,093,942.

22,136,926.
0.0
2,023,469.
10,635,396.

28,715,773.
1,392,772.
4,098,114.
6,274,568.

33,555,242.
1,307,538.
2,172,850.
9,921,776.

42,520,366.
3,687,629.
4,850,740.
19,393,182.

.15
1.22
2.26
2.2
.74
73.96

.18
1.44
2.41
2.24
.9
75.5

.18
1.47
2.18
2.18
.98
71.16

.19
1.09
1.78
2.16
1.
72.47

.16
1.3
2.02
2.03
.97
72.61

0.0

0.0

2.57
21.35
77.05
67.79
1.58
8.71
-

2.38
19.85
68.72
51.77
1.49
7.95
-

8.8
0.0
29.57
57.59

7.99
0.0
31.32
76.95

1.88
22.93
71.13
47.12
2.
8.07
17.05
10.26
.4
31.86
72.44

1.87
25.92
74.47
49.37
1.25
7.5
20.59
10.93
.32
43.26
91.08

2.1
25.3
75.75
50.
1.53
6.89
11.05
10.98
.27
54.09
106.49

Growth with Composition of Assets & L

50
40

23.8%

23.9%

30
Billion Rs

20
10
0
Non-Current Assets
Current AssetsCurrent Liabilities
2010

Growth & Composition of Operations

200
150
18.8%
100
Billion Rs
50
0
Sales

Gross Profit

Profitability/Efficiency Ratios
80

74.4775.75

70
60
50
40

2010

2011
49.37 50
25.92 25.3

Percentage 30
20
10
0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

26.6%

27.1%

17.8%

Current Liabilities

Non-Current
Liabilities

2011

Shareholders Equity
Growth

of Operations
2010

2011

Growth
1,900.%
19.2% 1,900.%
1,900.%
1,900.%
1,900.%
1,800.%
1,800.%
1,800.%
1,800.%

18.4%

Net Profit Before Tax

Key Performance Indicators

60

2010

50
40

2011

30
20
10
0

225

43.26

Percentage
1

.97

1.87

10.93 10.98
2.1

Current

Debt

Net

Earning

Ratio

Equity
Ratio

Profit
Margin

Per Share
after Tax

3,000.%
2,500.%
2,000.%
1,500.%
1,000.%
500.%
0.0%

54.09

2011

Clover Pakistan Ltd.

2011
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
58,885.
1.Capital work in progress
0.0
2.Operating fixed assets at cost
158,907.
3.Operating fixed assets after deducting accumulated
54,924.
depreciation
4.Depreciation for the year
9,861.
5.Intangible assets
101.
6.Long term investments
0.0
7.Other non-current assets
3,860.
B.Current Assets (B1+B2+B3+B4+B5)
753,872.
1.Cash & bank balance
170,255.
2.Inventories
269,940.
3.Trade Debt
116,686.
4.Short term investments
103,532.
5.Other current assets
93,459.
C.Current Liabilities (C1+C2)
410,095.
1.Short term Secured loans
0.0
2.Other current liabilities
410,095.
D.Non-Current Liabilities (D1+D2+D3+D4+D5) 7,026.
1.Long term secured loans
0.0
2.Long term unsecured loans
0.0
3.Debentures/TFCs
0.0
4.Employees benefit obligations
0.0
5.Other non-current liabilities
7,026.
E.Shareholders Equity (E1+E2+E3)
395,636.
1.Issued, Subscribed & Paid up capital
94,349.
i).Ordinary Shares
94,349.
ii).Preference shares
0.0
2.Reserves
301,287.
i).Capital Reserve
0.0
ii).Revenue Reserve
301,287.
3.Surplus on revaluation of fixed assets
0.0
F.Operation:
1.Sales
1,340,896.
i).Local sales (Net)
1,340,896.
ii).Export Sales (Net)
0.0
2.Cost of sales
1,072,179.
i).Cost of material
209,992.
ii).Other input cost
862,187. 0.64299319
3.Gross Profit
268,717. 0.20040108
4.General, administrative and other expenses 223,098.
i).Selling & distribution expenses
199,000. 14.8408229
ii).Administrative and other expenses
24,098. 1.79715653
5.Salaries, wages and employee benefits
68,734.
6.Financial expenses
1,785.
of which: (i) Interest expenses
720.
7.Net profit before tax
63,379.
8.Tax expense (current year)
23,499.
9.Total amount of dividend
37,740.
10.Total value of bonus shares issued
0.0
11.Cash flows from operations
7,256.
G.Miscellaneous
1.Total capital employed (E+D)
402,662.
2.Total fixed liabilities (D1+D3)
0.0
3.Retention in business (F7-F8-F9)
2,140.
4.Contractual Liabilities (G2+C1)
0.0
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
.95
2.Financial expenses as % of sales (F6 as % of F1) .13
3.Trade Debt as % of sales (B3 as % of F1)
8.7
4.Assets turnover ratio [F1 to (A+B)]
1.65
5.Current ratio (B to C)
1.84
6.Cost of goods sold to sales (F2 as % of F1)
79.96

7.Debt equity ratio [(C+D) to E]

1.05
8.Return on assets [F7 as % of avg.(A+B)]
8.05
9.Return of equity (F7 as % of avg. E)
16.56
10.Return on capital employed ( F7 as % of avg. G1)
16.25
11.Dividend cover ratio [(F7-F8) to F9]
1.06
12.Inventory Turnover Ratio (F1 to B2)
4.97
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
89.03
14.Net profit margin (F7 as % of F1)
4.73
15.Operating cash flow to debt ratio [F11 to (C+D)] .02
16.Earning per share after tax (Rs./share) [(F7-F8)/No.
4.23of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord.
41.93
shares)

Indus Fruit Products Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
109,289.
278,292.
109,289.
10,369.
0.0

29,199.
1,354.
11,031.
2,250.
2,316.
12,248.
139,904.
10,978.
128,926.
0.0

0.0
0.0
-1416
90,000.
90,000.
0.0
-91416

24,208.
20,431.
3,777.
41,721.

-17513
4,232.
4,232.
36.
-14159
108.
0.0
0.0

-1416
0.0
-14267
10,978.
.04
.15
9.29
.17
.21
172.34

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-98.8
-10.41
-236.85
-123.48
2.19
-58.49
0.0
-1.59
-.16
227

2011

Financial Statement Analysis of Non Financial Sector

2007
145,136.
323,587.
145,136.
9,448.
0.0
26,281.
3,104.
11,161.
902.
0.0
11,114.
200,452.
0.0
200,452.
0.0
0.0
0.0
-29035
90,000.
90,000.
0.0
-119035
-

(Thousand Rupees)
2008
2009
2010
2011
136,071.
284,262.
284,262.
284,262.
0.0
0.0
0.0
325,169.
325,169.
325,169.
325,169.
136,071.
136,071.
136,071.
136,071.
13,616.
13,616.
13,616.
13,616.
0.0
148,191.
148,191.
148,191.
0.0
0.0
0.0
0.0
0.0
0.0
45,967.
45,967.
45,967.
45,967.
647.
647.
647.
647.
31,597.
31,597.
31,597.
31,597.
602.
602.
602.
602.
2,316.
2,316.
2,316.
2,316.
10,805.
10,805.
10,805.
10,805.
240,229.
240,229.
240,229.
240,229.
0.0
0.0
0.0
0.0
240,229.
240,229.
240,229.
240,229.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-58191
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
0.0
0.0
0.0
0.0
-148191
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

46,922.
46,922.
0.0
69,406.
-

-22484

-28294

119,336.
116,989.
2,347.
140,316.
-20980

5,692.

8,868.
-

5,692.

8,868.
-

118.

1,666.
-29351

204.
0.0
0.0
-

597.
0.0
0.0
-

-29035

-58191

119,336.
116,989.
2,347.
0.0
0.0
0.0
119,336.
8,868.
0.0
8,868.
0.0
1,666.
0.0
108,802.
597.
0.0
0.0
0.0

119,336.
116,989.
2,347.
0.0
0.0
0.0
119,336.
8,868.
0.0
8,868.
0.0
1,666.
0.0
108,802.
597.
0.0
0.0
0.0

119,336.
116,989.
2,347.
0.0
0.0
0.0
119,336.
8,868.
0.0
8,868.
0.0
1,666.
0.0
108,802.
597.
0.0
0.0
0.0

90,000.
0.0
108,205.
0.0

90,000.
0.0
108,205.
0.0

.01
1.4
.5
.36
.19
0.0

.01
1.4
.5
.36
.19
0.0

0.0

0.0

90,000.
0.0
108,205.
0.0

.02
.25
1.92
.27
.13
147.92

.01
1.4
.5
.66
.19
117.58

.01
1.4
.5
.36
.19
0.0

0.0
-28498

0.0
-29948

-6.9
-18.26
185.83
185.83
-

-4.13
-16.61
67.3
67.3
-

4.2
-

2.67
32.95
120.89
120.89

3.78

3.78

91.17
0.0
12.02
10.

91.17
0.0
12.02
10.

3.78

-60.3
0.0
-3.17
-3.23

2.67
42.48
684.1
684.1

-24.6
0.0
-3.33
-6.47

2.67
32.95
120.89
120.89
3.78
-

91.17
0.0
12.02
10.

Ismail Industries Ltd.

2006
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1,074,441.
1.Capital work in progress
2.Operating fixed assets at cost
1,524,215.
3.Operating fixed assets after deducting accumulated depreciation
1,074,441.
4.Depreciation for the year
83,686.
5.Intangible assets
0.0
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1,266,900.
1.Cash & bank balance
46,400.
2.Inventories
804,501.
3.Trade Debt
127,778.
4.Short term investments
3,747.
5.Other current assets
284,474.
C.Current Liabilities (C1+C2)
1,464,578.
1.Short term Secured loans
1,014,701.
2.Other current liabilities
449,877.
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
433,336.
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
0.0
4.Employees benefit obligations
5.Other non-current liabilities
433,336.
E.Shareholders Equity (E1+E2+E3)
443,427.
1.Issued, Subscribed & Paid up capital
240,575.
i).Ordinary Shares
240,575.
ii).Preference shares
0.0
2.Reserves
202,852.
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
2,207,339.
i).Local sales (Net)
1,925,848.
ii).Export Sales (Net)
281,491.
2.Cost of sales
0.85393
1,884,913.
i).Cost of material
ii).Other input cost
3.Gross Profit
322,426.
4.General, administrative and other expenses
199,509.
i).Selling & distribution expenses
ii).Administrative and other expenses
199,509.
5.Salaries, wages and employee benefits
6.Financial expenses
102,027.
of which: (i) Interest expenses
7.Net profit before tax
45,429.
8.Tax expense (current year)
11,193.
9.Total amount of dividend
3,609.
10.Total value of bonus shares issued
0.0
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
876,763.
2.Total fixed liabilities (D1+D3)
0.0
3.Retention in business (F7-F8-F9)
30,627.
4.Contractual Liabilities (G2+C1)
1,014,701.
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
.12
2.Financial expenses as % of sales (F6 as % of F1)
4.62
3.Trade Debt as % of sales (B3 as % of F1)
5.79
4.Assets turnover ratio [F1 to (A+B)]
.94
5.Current ratio (B to C)
.87
6.Cost of goods sold to sales (F2 as % of F1)
85.39

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.28
2.23
10.68
5.77
9.49
2.74
2.06
0.0
1.42
18.43
228

2011

Financial Statement Analysis of Non Financial Sector

2007
1,147,681.
1,708,026.
1,147,681.
115,684.
0.0
2,642,954.
46,938.
1,213,116.
189,571.
80,808.
1,112,521.
2,257,694.
1,242,506.
1,015,188.
843,710.
0.0
843,710.
689,231.
240,575.
240,575.
0.0
448,656.
-

2008
1,380,469.
2,070,030.
1,380,469.
5,537.
0.0
3,195,537.
28,450.
1,587,065.
263,792.
1,108,526.
207,704.
2,715,553.
1,522,630.
1,192,923.
1,219,395.
0.0
1,219,395.
641,058.
240,575.
240,575.
0.0
400,483.
-

2009
2,604,511.
41,723.
2,468,724.
1,637,879.
143,718.
914,193.
10,716.
3,046,543.
51,142.
2,161,761.
454,376.
379,264.
2,980,684.
1,670,700.
1,309,984.
1,947,293.
1,230,661.
716,632.
723,077.
240,575.
240,575.
482,502.
50,000.
432,502.
-

3,001,414.
2,706,886.
294,528.
2,478,393.

4,192,311.
3,792,501.
399,810.
3,449,379.

5,064,893.
4,533,924.
530,969.
3,948,567.
2,725,170.
1,223,397.
1,116,326.
626,857.
344,602.
282,255.
292,382.
489,592.
271,136.
159,963.
9,332.
36,086.

523,021.
352,793.

742,932.
438,904.
-

352,793.
-

438,904.
-

166,545.

278,069.
-

73,268.
14,736.
24,058.
0.0
-

126,155.
19,875.
36,076.
0.0 -

(Thousand Rupees)
2010
2011
2,858,879.
3,464,893.
297,304.
105,065.
2,598,248.
3,442,097.
1,612,056.
2,270,610.
162,099.
193,772.
0.0
941,230.
1,053,200.
8,289.
36,018.
3,626,034.
4,867,118.
59,412.
21,598.
2,704,680.
3,896,776.
391,153.
450,407.
0.0
0.0
470,789.
498,337.
3,551,008.
4,560,032.
2,573,313.
3,366,038.
977,695.
1,193,994.
1,206,237.
1,739,453.
1,118,045.
1,160,725.
0.0
352,152.
0.0
0.0
27,248.
28,860.
60,944.
197,716.
1,727,668.
2,032,526.
505,208.
505,208.
505,208.
505,208.
0.0
0.0
1,222,460.
1,527,318.
579,265.
579,265.
643,195.
948,053.
0.0
0.0

299,638.

6,501,899.
5,705,800.
796,099.
5,374,175.
3,231,279.
2,142,896.
1,127,724.
446,840.
370,621.
76,219.
336,310.
474,857.
211,482.
304,763.
36,437.
88,411.
0.0
765,268.

7,737,936.
6,982,018.
755,918.
6,276,293.
4,186,120.
2,090,173.
1,461,643.
583,978.
484,586.
99,392.
403,344.
526,743.
496,913.
528,101.
81,303.
101,042.
0.0
788,334.

0.53805085

1,532,941.
0.0
34,474.
1,242,506.

1,860,453.
0.0
70,204.
1,522,630.

2,670,370.
1,230,661.
114,545.
2,901,361.

2,933,905.
1,118,045.
179,915.
3,691,358.

3,771,979.
1,160,725.
345,756.
4,526,763.

.14
5.55
6.32
.79
1.17
82.57

.52
6.63
6.29
.92
1.18
82.28

.17
9.67
8.97
.9
1.02
77.96

.13
7.3
6.02
1.
1.02
82.66

.1
6.81
5.82
.93
1.07
81.11

4.5
2.39
12.94
6.08
2.43
2.47
-

6.14
3.02
18.97
7.44
2.95
2.64
-

2.44
0.0
2.43
28.65

3.01
0.0
4.42
26.65

6.82
3.13
23.45
7.06
4.17
2.34
1.59
3.16
.06
6.26
30.06

2.75
5.02
24.87
10.88
3.03
2.4
2.44
4.69
.16
5.31
34.2

3.1
7.13
28.09
15.75
4.42
1.99
2.06
6.82
.13
8.84
40.23

0.54098664
0.27012022

Mitchell'S Fruit Farms Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
233,786.
431,454.
232,166.
21,299.
1,620.

249,621.
14,699.
163,275.
19,496.
0.0
52,151.
209,658.
117,035.
92,623.
36,842.

0.0
36,842.
236,907.
50,400.
50,400.
0.0
186,507.

863,369.
863,369.
0.0
758,716.

104,653.
101,719.
101,719.
19,319.
-3480
3,800.
0.0
0.0

273,749.
0.0
-7280
117,035.
.16
2.24
2.26
1.79
1.19
87.88

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.04
-.72
-1.4
-1.19
5.29
-.4
0.0
-1.44
47.01
229

2011

Financial Statement Analysis of Non Financial Sector

2007
272,348.
489,169.
270,277.
22,217.
2,071.
306,040.
26,666.
185,037.
45,932.
0.0
48,405.
293,710.
160,597.
133,113.
22,105.
0.0
22,105.
262,573.
50,400.
50,400.
0.0
212,173.
-

2008
323,939.
565,933.
322,282.
26,088.
1,657.
397,433.
10,910.
288,699.
39,068.
0.0
58,756.
453,174.
303,448.
149,726.
7,368.
0.0
7,368.
260,830.
50,400.
50,400.
0.0
210,430.
-

2009
329,522.
5,197.
585,550.
316,491.
29,879.
1,326.
6,508.
398,387.
13,218.
260,383.
58,674.
66,112.
407,588.
307,672.
99,916.
50,479.
50,479.
269,842.
50,400.
50,400.
219,442.
209,806.
-

992,533.
992,533.
0.0
832,180.

1,190,615.
1,190,615.
0.0
1,000,802.

1,255,064.
1,197,953.
57,111.
1,020,068.
828,745.
191,323.
234,996.
175,939.
124,570.
51,369.

13,113.
402.
5,040.
0.0

18,532.
4,482.
10,080.
35,780.
-36674

1,376,861.
1,294,029.
82,832.
1,073,514.
894,986.
178,528.
303,347.
204,041.
135,993.
68,048.
143,565.
37,613.
35,509.
69,206.
3,964.
20,160.
0.0
156,022.

284,678.
0.0
25,285.
160,597.

268,198.
0.0
7,671.
303,448.

320,321.
0.0
3,970.
307,672.

382,050.
0.0
45,082.
166,616.

439,205.
0.0
34,167.
154,795.

.25
2.14
4.63
1.72
1.04
83.84

.11
2.71
3.28
1.65
.88
84.06

.18
4.26
4.67
1.72
.98
81.28

.18
2.73
2.96
2.1
1.25
77.97

.24
2.14
3.52
2.35
1.33
78.03

160,353.
103,332.

189,813.
150,500.
-

103,332.
-

150,500.
-

21,268.
-

32,323.

39,765.
4,400.
10,080.
0.0

(Thousand Rupees)
2010
2011
312,946.
332,169.
1,332.
14,503.
597,551.
623,887.
302,925.
308,926.
29,278.
30,808.
1,061.
1,607.
0.0
7,628.
7,133.
343,441.
432,222.
8,128.
13,580.
230,918.
312,066.
40,717.
63,245.
0.0
63,678.
43,331.
274,337.
325,186.
166,616.
154,795.
107,721.
170,391.
75,820.
79,710.
0.0
0.0
0.0
0.0
0.0
0.0
28,566.
36,145.
47,254.
43,565.
306,230.
359,495.
50,400.
50,400.
50,400.
50,400.
0.0
0.0
255,830.
309,095.
9,336.
9,336.
246,494.
299,759.
0.0
0.0

53,487.
-

1,794,248.
1,644,557.
149,691.
1,400,132.
1,205,498.
194,634.
394,116.
258,517.
183,404.
75,113.
176,870.
38,360.
34,990.
108,146.
38,699.
35,280.
0.0
85,665.

1.2
7.49
15.92
14.24
3.51
5.36

1.77
2.02
5.01
4.74
2.52
4.12
-

4.01
0.0
7.02
52.1

1.7
2.56
6.98
6.3
1.39
4.82
-

1.1
0.0
2.52
51.75

1.48
-.08
2.79
53.54

1.14
10.
24.03
19.71
3.24
5.96
2.95
5.03
.45
12.94
60.76

1.13
15.22
32.49
26.34
1.97
5.75
4.09
6.03
.21
13.78
71.33

Morafco Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,320.
21,973.
2,320.
257.
0.0
1,959.
1,295.
0.0
0.0
0.0
664.
830,883.
705,350.
125,533.
0.0
0.0
0.0
-826604
5,683.
5,683.
0.0
-832287
0.0
0.0
0.0
0.0
0.0
1,248.
1,248.
1.
-846
0.0
0.0
0.0
-826604
0.0
-846
705,350.
0.0
0.0
0.0
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-1.01
-19.92
.1
.1
0.0
-1.49
-1,454.52
230

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
2,089.

2009
1,879.

21,972.
2,089.
232.
0.0

743.
25.
0.0
0.0
0.0
718.
830,603.
0.0
830,603.
0.0
0.0
0.0
-827771
5,683.
5,683.
0.0
-833454
-

21,972.
21,976.
1,879.
1,694.
210.
189.
0.0 824.
768.
131.
76.
0.0 0.0 0.0 693.
692.
831,790.
832,893.
0.0 831,790.
832,893.
0.0
0.0
0.0 0.0 -829087
-830431
5,683.
5,683.
5,683.
5,683.
0.0 -834770
-836114
5,646.
-841760
-

0.0
0.0
0.0
0.0
-

0.0
1,395.

0.0
0.0 0.0 0.0
0.0
1,320.

1,395.

1,320.
-

2.
-1167

-1316
0.0
0.0
0.0

-827771
-1167

-1316

0.0
0.0

-834524

-1617

0.0
-2476

0.0

0.0

0.0
-

0.0
0.0
-

0.0
0.0
0.0
17.

0.0

0.0

0.0
0.0

-2476

-832048

0.0
0.0
0.0
0.0
0.0
0.0
0.0
2,480.
315.
2,165.
749.
0.0
0.0

0.0
0.0
0.0
0.0

0.0

0.0

-1617

-1344

0.0
0.0

0.0
1,349.
336.
1,013.

0.0

0.0

0.0
-

0.0
0.0
0.0
0.0
0.0
0.0
0.0
1,620.
323.
1,297.
160.
0.0
0.0

0.0

-830431
0.0

0.0

0.0

2. -1344
0.0
0.0
0.0 -45

-829087
0.0

1,694.
-

(Thousand Rupees)
2010
2011
1,525.
1,372.
0.0
0.0
21,976.
21,976.
1,525.
1,372.
189.
153.
0.0
0.0
0.0
0.0
0.0
0.0
784.
815.
79.
100.
0.0
0.0
0.0
0.0
0.0
0.0
705.
715.
834,357.
836,711.
0.0
0.0
834,357.
836,711.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-832048
-834524
5,683.
5,683.
5,683.
5,683.
0.0
0.0
-837731
-840207
5,646.
5,646.
-843377
-845853
0.0
0.0

0.0
-

0.0
0.0
-

0.0
0.0
-

-1.
-32.82
.14
.14
-

-1.
-47.55
.16
.16
-

0.0
-2.05
-1,456.57

-1.
-52.04
.16
.16
-

0.0
-2.32
-1,458.89

-1.
-67.78
.19
.19
-

0.0
-2.36
-1,461.25

-1.
-110.14
.3
.3
-

0.0
-2.85
-1,464.1

0.0
-4.36
-1,468.46

Murree Brewery Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
773,617.
967,861.
773,617.
58,828.
0.0

675,023.
139,044.
269,072.
28,615.
75,761.
162,531.
391,240.
1,872.
389,368.
799.

0.0
799.
1,056,601.
98,582.
98,582.
0.0
958,019.

1,672,544.
1,672,544.
0.0
1,373,042.

299,502.
142,264.
142,264.
1,347.
214,023.
23,827.
44,810.
8,962.

1,057,400.
0.0
145,386.
1,872.
.62
.08
1.71
1.15
1.73
82.09

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.37
15.94
21.17
21.13
4.24
6.22
12.8
0.0
19.29
107.18
231

2011

Financial Statement Analysis of Non Financial Sector

2007
743,801.
1,027,212.
743,801.
91,203.
0.0
865,468.
151,262.
347,640.
43,860.
182,050.
140,656.
428,652.
6,041.
422,611.
3,440.
0.0
3,440.
1,177,177.
108,440.
108,440.
0.0
1,068,737.
-

2008
2,906,058.
3,258,982.
2,906,058.
73,510.
0.0
1,001,153.
113,689.
492,664.
77,581.
0.0
317,219.
505,274.
1,614.
503,660.
1,612.
0.0
1,612.
3,400,325.
119,284.
119,284.
0.0
3,281,041.
-

2,421,956.
2,421,956.
0.0
2,009,874.
-

2,578,533.
2,578,533.
0.0
1,747,741.
1,728,360.
19,381.
830,792.
365,543.
177,976.
187,567.
94,415.
2,507.
1,692.
524,581.
209,252.
72,167.
28,867.
564,042.

3,349,788.
3,349,788.
0.0
2,216,880.
2,137,079.
79,801.
1,132,908.
434,653.
247,735.
186,918.
180,039.
4,350.
2,388.
784,686.
264,765.
86,601.
17,320.
422,071.

1,180,617.
0.0
124,226.
6,041.

3,401,937.
0.0
135,052.
1,614.

3,690,126.
0.0
150,226.
0.0

3,960,980.
1,633.
243,162.
2,683.

4,403,725.
3,258.
433,321.
5,254.

.88
.03
1.81
1.51
2.02
82.99

.38
.03
3.05
.65
1.98
80.06

.84
.24
3.91
.55
2.79
71.98

1.33
.1
1.51
.58
2.72
67.78

1.51
.13
1.65
.68
3.16
66.18

200,916.

674.

259,898.
81,452.
54,220.
10,844.

(Thousand Rupees)
2010
2011
3,098,614.
3,205,518.
0.0
0.0
3,380,638.
3,762,060.
2,997,183.
3,074,902.
87,174.
142,775.
0.0
0.0
96,405.
111,149.
5,026.
19,467.
1,364,710.
1,751,721.
552,986.
696,290.
595,396.
799,342.
38,885.
55,285.
74,704.
84,132.
102,739.
116,672.
502,344.
553,514.
1,050.
1,996.
501,294.
551,518.
175,502.
170,493.
1,633.
3,258.
0.0
0.0
0.0
0.0
23,713.
29,619.
150,156.
137,616.
3,785,478.
4,233,232.
144,334.
173,201.
144,334.
173,201.
0.0
0.0
1,294,452.
1,725,416.
50,681.
50,681.
1,243,771.
1,674,735.
2,346,692.
2,334,615.

2,541,283.
2,217,358.
2,541,283.
2,217,358.
0.0 2,034,558.
1,595,963.
1,595,963.
506,725.
621,395.
244,710.
293,745.
186,218.
244,710.
107,527.
84,586.
707.
5,350.
4,179.
296,616.
340,854.
101,922.
125,022.
59,642.
65,607.
11,928.
128,573.
265,273.

412,082.
200,916.
-

2009
3,028,168.
3,548,859.
2,946,626.
125,210.
78,207.
3,335.
1,031,676.
222,140.
503,415.
86,697.
219,424.
369,718.
369,718.
154,370.
154,370.
3,535,756.
131,213.
131,213.
1,046,111.
30,681.
668,388.
2,358,432.

.37
17.
23.27
23.23
3.29
6.97
-

.15
10.75
12.96
12.95
3.26
5.16
-

10.73
0.0
16.46
108.56

11.67
0.0
16.32
285.06

.15
8.56
9.83
9.61
3.29
4.4
82.56
15.37
.51
16.45
269.47

.18
12.31
14.33
13.71
4.37
4.33
311.04
20.34
.83
21.85
262.27

.17
16.66
19.57
18.76
6.
4.19
329.6
23.42
.58
30.02
244.41

National Foods Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
369,938.
527,565.
365,874.
28,624.
4,064.

598,022.
83,025.
367,235.
101,940.
0.0
45,822.
524,194.
224,231.
299,963.
194,694.

0.0
194,694.
249,072.
42,505.
42,505.
0.0
206,567.

2,465,457.
2,251,339.
214,118.
1,894,194.

571,263.
446,623.
446,623.
24,850.
106,471.
37,000.
0.0
0.0

443,766.
0.0
69,471.
224,231.
.35
1.01
4.13
2.55
1.14
76.83

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.89
12.7
49.21
30.17
6.71
4.32
0.0
16.34
58.6
232

Financial Statement Analysis of Non Financial Sector

2007
496,223.
683,312.
493,444.
36,212.
2,779.
692,235.
18,146.
477,007.
112,585.
0.0
84,497.
662,172.
263,313.
398,859.
158,406.
0.0
158,406.
367,880.
42,505.
42,505.
0.0
325,375.
-

2008
637,519.
876,250.
635,325.
54,471.
2,194.
1,109,136.
13,496.
755,259.
259,091.
0.0
81,290.
1,104,468.
591,682.
512,786.
126,262.
0.0
126,262.
515,925.
55,257.
55,257.
0.0
460,668.
-

3,147,341.
2,869,311.
278,030.
2,328,857.

4,042,028.
3,653,216.
388,812.
3,056,251.

818,484.
624,293.

985,777.
717,901.
-

624,293.
-

717,901.
-

32,675.

56,238.
-

191,722.
38,000.
8,501.
12,751.
-

233,947.
42,000.
0.0
12,752.
-

2009
654,835.
48,205.
875,622.
565,799.
74,064.
35,668.
5,163.
1,180,506.
15,205.
846,977.
274,556.
43,768.
1,039,476.
485,536.
553,940.
140,479.
60,000.
80,479.
655,386.
331,542.
331,542.
323,844.
323,844.
-

2011

(Thousand Rupees)
2010
2011
824,968.
787,694.
63,604.
22,338.
1,084,154.
1,160,472.
731,167.
752,018.
76,303.
81,978.
25,688.
8,958.
0.0
4,509.
4,380.
1,849,392.
2,067,047.
14,101.
14,225.
1,502,232.
1,732,410.
253,050.
287,742.
0.0
80,009.
32,670.
1,826,827.
1,678,278.
1,189,769.
727,940.
637,058.
950,338.
105,588.
253,652.
20,000.
169,750.
0.0
0.0
0.0
85,588.
83,902.
741,945.
922,811.
414,427.
414,427.
414,427.
414,427.
0.0
327,518.
508,384.
0.0
327,518.
508,384.
0.0

3,758,706.
4,489,946.
493,844.
597,878.
3,264,862.
3,892,068.
2,632,255.
3,163,199.
1,639,565.
2,190,781.
992,690.
972,418.
1,126,451.
1,326,747.
835,914.
1,091,416.
665,664.
909,818.
170,250.
181,598.
436,127.
501,370.
86,841.
99,364.
16,220.
10,317.
220,702.
159,181.
81,241.
48,000.
82,886.
49,731.
318,982.
0.0
202,147. -391195

5,520,780.
4,795,227.
725,553.
3,946,799.
2,753,111.
1,193,688.
1,573,981.
1,098,597.
886,106.
212,491.
564,868.
125,696.
88,639.
361,751.
124,500.
103,607.
0.0
422,593.

526,286.
0.0
145,221.
263,313.

642,187.
0.0
191,947.
591,682.

795,865.
60,000.
56,576.
545,536.

847,533.
20,000.
61,450.
1,209,769.

1,176,463.
169,750.
133,644.
897,690.

.2
1.04
3.58
2.65
1.05
73.99

.25
1.39
6.41
2.31
1.
75.61

.28
2.31
7.3
2.05
1.14
70.03

.15
2.21
5.64
1.68
1.01
70.45

.18
2.28
5.21
1.93
1.23
71.49

2.23
17.78
62.15
39.53
18.08 6.6
6.09
0.0
36.17
86.55

2.39
15.94
52.94
40.04
5.35
5.79
0.0
34.74
93.37

1.8
12.32
37.68
30.69
1.68
4.44
14.61
5.87
.17
4.21
19.77

2.6
7.06
22.78
19.37
2.24
2.99
16.43
3.55
-.2
2.68
17.9

2.09
13.09
43.46
35.75
2.29
3.19
5.08
6.55
.22
5.72
22.27

Nestle Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
8,228,121.
11,615,815.
8,093,101.
579,843.
135,020.

4,699,781.
34,663.
1,907,300.
238,291.
0.0
2,519,527.
10,365,351.
2,826,103.
7,539,248.
31,471.

0.0
31,471.
2,531,080.
453,496.
453,496.
0.0
2,077,584.

24,062,008.
22,706,684.
1,355,324.
17,809,380.

6,252,628.
3,876,131.
3,876,131.
447,774.
2,005,455.
110,724.
226,748.
0.0

2,562,551.
0.0
1,667,983.
2,826,103.
.03
1.86
.99
1.86
.45
74.01

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.11
18.43
87.69
61.21
8.36
12.62
8.33
0.0
41.78
55.81
233

2011

Financial Statement Analysis of Non Financial Sector

2008
10,896,518.
15,959,381.
10,846,774.
1,093,921.
49,744.
5,787,658.
419,327.
2,488,573.
456,813.
0.0
2,422,945.
6,977,872.
2,278,329.
4,699,543.
5,317,457.
0.0
5,317,457.
4,388,847.
453,496.
453,496.
0.0
3,935,351.
-

2009
11,741,452.
914,956.
18,321,954.
10,700,874.
1,270,046.
7,106.
118,516.
6,845,528.
315,770.
3,895,038.
241,715.
2,393,005.
8,083,130.
756,362.
7,326,768.
6,076,895.
4,210,750.
1,866,145.
4,426,955.
453,496.
453,496.
3,973,459.
249,527.
3,443,932.
-

30,455,452.
28,552,701.
1,902,751.
22,511,329.

36,129,592.
33,922,714.
2,206,878.
27,177,277.

41,155,822.
37,886,124.
3,269,698.
29,256,902.
22,810,079.
6,446,823.
11,898,920.
7,414,758.
5,238,488.
2,176,270.
3,033,898.
442,050.
111,024.
4,186,257.
1,181,124.
2,720,976.
154,769.
4,607,863.

51,487,302.
47,415,871.
4,071,431.
37,608,733.
29,136,003.
8,472,730.
13,878,569.
7,839,799.
5,709,078.
2,130,721.
3,033,898.
513,081.
264,983.
5,696,180.
1,579,337.
3,401,220.
0.0
5,449,017.

64,824,364.
59,520,950.
5,303,414.
48,099,046.
37,270,680.
10,828,366.
16,725,318.
9,331,644.
6,862,113.
2,469,531.
4,277,554.
1,050,355.
903,474.
6,502,864.
1,010,796.
2,947,724.
0.0
5,484,232.

7,944,123.
4,875,892.

8,952,315.
6,229,306.
-

4,875,892.
-

6,229,306.
-

584,434.

557,325.
-

2,549,756.
315,728.
453,496.
0.0
-

(Thousand Rupees)
2010
2011
14,599,309. 21,784,842.
3,076,472.
5,370,561.
18,321,954. 24,357,118.
11,370,611. 16,230,528.
1,270,046.
1,613,489.
16,735.
11,954.
0.0
0.0
135,491.
171,799.
8,352,923. 13,395,017.
505,516.
702,025.
4,602,019.
7,064,170.
126,499.
276,858.
0.0
0.0
3,118,889.
5,351,964.
9,806,572. 16,788,455.
2,838,629.
9,166,823.
6,967,943.
7,621,632.
7,563,788. 10,778,988.
55,415.
2,013,690.
5,573,750.
5,848,050.
0.0
0.0
229,115.
440,377.
1,705,508.
2,476,871.
5,581,872.
7,612,416.
453,496.
453,496.
453,496.
453,496.
0.0
5,128,376.
7,158,920.
249,526.
249,527.
4,878,850.
6,909,393.
0.0
0.0

2007
10,137,994.
14,234,275.
10,045,611.
953,813.
92,383.
5,710,580.
406,225.
2,393,306.
344,053.
0.0
2,566,996.
11,617,267.
2,702,662.
8,914,605.
119,602.
0.0
119,602.
4,111,705.
453,496.
453,496.
0.0
3,658,209.
-

2,227,484.
791,661.
1,134,865.
0.0
-

4,231,307.
0.0
1,780,532.
2,702,662.

9,706,304.
0.0
300,958.
2,278,329.

10,503,850.
0.0
284,157.
756,362.

13,145,660.
55,415.
715,623.
2,894,044.

18,391,404.
2,013,690.
2,544,344.
11,180,513.

.06
1.92
1.13
1.92
.49
73.92

.13
1.54
1.26
2.17
.83
75.22

.07
1.07
.59
2.21
.85
71.09

.06
1.
.25
2.24
.85
73.04

.06
1.62
.43
1.84
.8
74.2

2.85
17.72
76.77
75.06
4.93
12.73
-

2.8
13.69
52.41
31.96
1.27
14.52
-

8.37
0.0
49.26
90.67

6.17
0.0
31.66
96.78

3.2
23.74
94.97
41.43
1.1
10.57
38.71
10.17
.33
66.27
97.62

3.11
27.43
113.82
48.17
1.21
11.19
22.5
11.06
.31
90.78
123.09

3.62
22.37
98.57
41.24
1.86
9.18
8.2
10.03
.2
121.11
167.86

Noon Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
366,817.
522,330.
366,237.
37,707.
580.

182,361.
39,890.
30,202.
35,790.
0.0
76,479.
281,743.
140,715.
141,028.
134,983.

0.0
134,983.
132,452.
79,200.
7,200.
72,000.
53,252.

1,160,855.
1,160,855.
0.0
1,020,175.

140,680.
140,706.
140,706.
24,862.
-9666
5,486.
0.0
0.0

267,435.
0.0
-15152
140,715.
.27
2.14
3.08
2.11
.65
87.88

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.15
-1.81
-6.81
-3.62
38.44
-.83
0.0
-21.04
183.96
234

2011

Financial Statement Analysis of Non Financial Sector

2007
360,727.
554,408.
360,727.
39,008.
0.0
192,405.
14,335.
44,283.
39,499.
0.0
94,288.
361,533.
172,314.
189,219.
59,920.
0.0
59,920.
131,679.
79,200.
7,200.
72,000.
52,479.
-

2008
422,206.
631,157.
422,206.
39,238.
0.0
326,041.
29,292.
73,428.
50,952.
0.0
172,369.
465,590.
152,186.
313,404.
90,359.
0.0
90,359.
192,298.
115,200.
43,200.
72,000.
77,098.
-

1,168,184.
1,168,184.
0.0
1,004,370.
-

163,814.
126,763.

126,763.

36,743.

18,486.
5,826.
18,317.
0.0

191,599.
0.0
-5657
172,314.
.15
3.15
3.38
2.11
.53
85.98

2009
446,876.
5,402.
608,916.
440,777.
43,099.
172.
525.
299,074.
10,843.
90,035.
61,764.
136,432.
369,596.
129,948.
239,648.
144,504.
62,174.
82,330.
231,850.
115,200.
43,200.
72,000.
94,604.
15,880.
78,724.
22,046.

1,657,150.
1,745,609.
1,657,150.
1,745,609.
0.0 1,445,799.
1,528,572.
834,997.
693,575.
211,351.
217,037.
147,353.
143,937.
96,814.
147,353.
47,123.
73,057.
35,801.
51,106.
12,962.
48,950.
46,070.
-2510
8,165.
0.0
0.0
0.0
2,200.
115,052.
282,657.
0.0
40,785. 152,186.
.17
2.16
3.07
2.21
.7
87.25

(Thousand Rupees)
2010
2011
504,826.
567,366.
100.
0.0
780,906.
878,803.
503,410.
565,924.
49,194.
56,417.
106.
232.
0.0
0.0
1,210.
1,210.
410,964.
793,342.
23,350.
211,182.
84,595.
177,393.
92,008.
73,624.
0.0
0.0
211,011.
331,143.
561,153.
764,775.
223,305.
280,204.
337,848.
484,571.
92,918.
272,058.
27,098.
229,709.
37,724.
0.0
0.0
0.0
28,096.
42,349.
261,719.
323,875.
126,720.
126,720.
126,720.
126,720.
0.0
0.0
113,327.
140,113.
0.0
0.0
113,327.
140,113.
21,672.
57,042.
2,436,416.
2,436,416.
0.0
2,170,498.
1,190,134.
980,364.
265,918.
198,011.
133,944.
64,067.
87,985.
39,884.
11,116.
49,568.
12,256.
15,206.
0.0
170,106.

2,957,377.
2,957,377.
0.0
2,590,444.
1,517,723.
1,072,721.
366,933.
273,316.
192,672.
80,644.
89,833.
59,706.
50,897.
67,487.
31,066.
0.0
12,672.
88,208.

192,122.

354,637.
27,098.
22,106.
250,403.

595,933.
229,709.
36,421.
509,913.

.2
2.93
3.54
2.34
.81
87.57

.21
1.64
3.78
2.66
.73
89.09

.37
2.02
2.49
2.17
1.04
87.59

376,354.
62,174.

3.2
3.35
14.
8.05
.69 26.38
1.58
0.0
17.58
182.89

2.89
7.52
30.22
20.64

2.22
6.17
21.72
13.98
-

22.57
2.95
0.0
9.44 44.51

19.39
4.55
2.64
.22
53.67

2.5
5.97
20.09
13.56
2.45
28.8
5.46
2.03
.26
2.94
20.65

3.2
5.93
23.05
14.2
16.67
2.33
2.28
.09
2.87
25.56

Punjab Oil Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
79,053.
168,626.
79,053.
6,422.
0.0

169,057.
8,628.
65,871.
22,970.
0.0
71,588.
195,947.
54,616.
141,331.
6,341.

0.0
6,341.
45,822.
20,419.
20,419.
0.0
25,403.

1,226,484.
1,226,484.
0.0
1,171,720.

54,764.
36,134.
36,134.
3,473.
16,491.
7,855.
0.0
0.0

52,163.
0.0
8,636.
54,616.
.16
.28
1.87
4.94
.86
95.53

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.41
7.19
55.25
44.02
18.62
1.34
0.0
4.23
22.44
235

2011

Financial Statement Analysis of Non Financial Sector

2007
184,256.
279,635.
184,256.
6,439.
0.0
199,214.
15,533.
77,431.
30,237.
0.0
76,013.
231,545.
45,219.
186,326.
5,835.
0.0
5,835.
146,090.
20,419.
20,419.
0.0
125,671.
1,747,515.
1,747,515.
0.0
1,670,913.

76,602.
47,529.

47,529.

2,143.

27,355.
10,550.
4,493.
0.0

2009
199,515.
3,639.
295,917.
181,416.
9,901.
14,460.
454,215.
38,551.
168,874.
132,323.
114,467.
403,850.
403,850.
23,836.
23,836.
226,044.
30,629.
30,629.
65,926.
1,881.
8,600.
129,489.

(Thousand Rupees)
2010
2011
209,972.
219,277.
3,079.
5,864.
311,662.
324,240.
188,518.
189,804.
10,723.
11,493.
0.0
0.0
0.0
0.0
18,375.
23,609.
482,109.
630,262.
30,764.
11,011.
192,573.
204,256.
145,882.
252,237.
0.0
0.0
112,890.
162,758.
394,032.
490,643.
269.
26,756.
393,763.
463,887.
26,280.
33,490.
364.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
25,916.
33,490.
271,769.
325,406.
38,286.
53,907.
38,286.
53,907.
0.0
0.0
105,939.
150,878.
1,881.
23,137.
104,058.
127,741.
127,544.
120,621.

2,509,214.
2,809,910.
2,509,214.
2,809,910.
0.0 2,385,994.
2,625,310.
2,357,144.
268,166.
123,220.
184,600.
67,832.
92,869.
49,004.
67,832.
43,865.
24,815.
3,177.
857.
273.
54,343.
103,480.
18,839.
63,206.
0.0
4,594.
10,209.
12,803.
37,530.

3,018,442.
3,710,267.
3,018,442.
3,710,267.
0.0
0.0
2,837,147.
3,473,835.
2,731,893.
3,307,845.
105,254.
165,990.
181,295.
236,432.
109,529.
136,336.
55,120.
66,336.
54,409.
70,000.
24,815.
74,467.
719.
1,892.
389.
84,991.
77,120.
102,502.
44,171.
67,909.
5,743.
5,391.
0.0
5,391.
1,557. -57431

2008
184,334.
289,517.
184,334.
9,837.
0.0
507,942.
39,367.
97,437.
273,080.
0.0
98,058.
507,524.
39,790.
467,734.
4,711.
0.0
4,711.
180,041.
20,419.
20,419.
0.0
159,622.
-

151,925.
0.0
12,312.
45,219.

184,752.
0.0
35,504.
39,790.

249,880.
0.0
35,680.
0.0

298,049.
364.
27,206.
633.

358,896.
0.0
29,202.
26,756.

.2
.12
1.73
4.56
.86
95.62

.62
.13
10.88
3.62
1.
95.09

.42
.03
4.71
4.3
1.12
93.43

.45
.02
4.83
4.36
1.22
93.99

.54
.05
6.8
4.37
1.28
93.63

1.62
8.66
28.51
26.81
3.74 22.57
1.57
0.0
8.23
71.55

2.85
10.1
33.33
32.28
25.75
2.17
0.0
17.39
88.17

1.89
15.38
50.96
47.62
8.77
16.64
380.05
3.68
.09
13.15
73.8

1.55
11.46
30.98
28.15
5.74
15.67
199.25
2.55
0.0
8.61
70.98

1.61
13.3
34.33
31.21
6.42
18.16
2.21
2.76
-.11
6.42
60.36

Quice Food Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
146,615.
112,203.
46,615.
5,071.
100,000.

21,658.
76.
8,121.
11,597.
0.0
1,864.
77,444.
65,000.
12,444.
20,000.

0.0
20,000.
70,829.
106,875.
106,875.
0.0
-36046

32,236.
32,236.
0.0
24,984.

7,252.
4,962.
4,962.
3.
206,744.
161.
0.0
0.0

90,829.
0.0
206,583.
65,000.
.15
.01
35.98
.19
.28
77.5

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.38
122.86
291.89
227.62
3.97
641.35
0.0
19.33
6.63
236

Financial Statement Analysis of Non Financial Sector

2007
137,948.
112,203.
37,948.
4,105.
100,000.
33,008.
878.
8,052.
19,305.
0.0
4,773.
92,500.
55,000.
37,500.
0.0
0.0
0.0
78,456.
106,875.
106,875.
0.0
-28419
-

2008
134,255.
112,203.
34,255.
3,693.
100,000.
39,385.
215.
13,087.
23,970.
0.0
2,113.
89,224.
46,100.
43,124.
0.0
0.0
0.0
84,416.
106,875.
106,875.
0.0
-22459
-

52,159.
52,159.
0.0
38,528.
-

13,846.
7,603.
-

7,472.
-

7,603.
-

4.

15.
-

6,155.
261.
0.0
0.0
-

78,456.
0.0
5,894.
55,000.
.22
.01
37.01
.31
.36
73.87

30,932.
112,203.
30,932.
3,323.
20,909.
13.
251.
19,784.
861.
20,442.
20,442.
48,628.
19,100.
29,378.
150.
-17229
106,875.
106,875.
-124104
-130979
-

53,459.
53,459.
0.0 39,613.

13,631.
7,472.
-

2009

(Thousand Rupees)
2010
2011
27,981.
23,690.
2,284.
112,242.
92,191.
27,981.
21,406.
2,990.
2,613.
0.0
0.0
0.0
24,447.
77,931.
110.
3,631.
408.
18,293.
23,089.
48,216.
0.0
840.
7,791.
16,016.
18,268.
0.0
16,016.
18,268.
48,923.
94,056.
7,100.
93,306.
41,514.
0.0
0.0
0.0
309.
750.
-12511
-10703
106,875.
106,875.
106,875.
106,875.
0.0
-119386
-117578
0.0
-126261
0.0
0.0

29,253.
29,253.

56,604.
56,604.

23,935.
16,321.
7,614.
5,318.
125,480.
1,373.
124,107.
3,264.
5.

6,228. -101645
267. 0.0
0.0
0.0
17,228.
-197

.27
.03
44.84
.31
.44
74.1

3,227.
1,489.
0.0
17,228.
3,136.

113,632.
113,632.
0.0
106,085.
104,140.
1,945.
7,547.
18,010.
6,135.
11,875.
10,501.
29.
0.0
4,661.
0.0
0.0
17,228.
-56248

36,412.
7,100.
1,738.
7,100.

83,353.
93,306.
4,661.
93,306.

1.45
.09
40.79
1.08
1.53
82.43

2.84
.03
42.43
1.12
4.27
93.36

84,416.
31,399.
0.0
19,100.
5,961. -101645
46,100.
19,100.
.97
.02
67.63
.56
1.02
81.82

2011

46,659.
39,320.
7,339.
9,945.
9,031.
4,010.
5,021.
5,394.
51.

0.91646719

1.18
3.63
8.25
7.27
-

1.06
3.61
7.65
7.65
-

6.48
-

4.08

11.8
0.0
.55
7.34

-4.01
-90.16
-302.57
-175.53

-10.49
6.05
-40.16
7.78

138.74

6.21

5.7
.05
.16
-1.17

4.1
-.5
.44
-1.

116.55

11.65
0.0
.56
7.9

-5.19
6.19
-21.7
9.52

-347.47
0.0
-9.51
-1.61

Rafhan Maize Products Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,613,511.
2,936,455.
1,613,511.
187,916.
0.0

1,913,137.
236,295.
1,160,613.
266,787.
0.0
249,442.
800,003.
0.0
800,003.
0.0

0.0
0.0
2,726,645.
92,364.
92,364.
0.0
2,634,281.

6,360,822.
6,145,466.
215,356.
4,789,763.

1,571,059.
342,749.
342,749.
20,405.
1,252,394.
396,598.
6,927,300.
0.0

2,726,645.
0.0
-6071504
0.0
.63
.32
4.19
1.8
2.39
75.3

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.29
35.69
47.35
47.35
.12
5.48
19.69
0.0
92.65
295.21
237

2011

Financial Statement Analysis of Non Financial Sector

2008
2,056,715.
3,647,400.
2,056,715.
140,081.
0.0
3,172,043.
13,730.
2,406,062.
343,604.
0.0
408,647.
1,650,317.
493,709.
1,156,608.
0.0
0.0
0.0
3,578,441.
92,364.
92,364.
0.0
3,486,077.
-

2009
2,772,564.
987,851.
3,475,452.
1,765,365.
150,911.
19,348.
2,473,347.
673,409.
1,166,118.
315,365.
318,455.
977,860.
977,860.
260,321.
260,321.
4,007,730.
92,364.
92,364.
3,915,366.
-

7,893,402.
7,389,117.
504,285.
5,795,230.

11,250,797.
10,816,972.
433,825.
8,509,551.

11,428,104.
11,123,537.
304,567.
8,992,742.
6,490,974.
2,501,768.
2,435,362.
453,991.
116,884.
337,107.
608,738.
48,766.
42,401.
2,011,864.
714,784.
831,276.
73,411.
2,830,047.

13,912,769.
13,394,113.
518,656.
10,615,033.
8,278,035.
2,336,998.
3,297,736.
549,303.
131,768.
417,535.
661,374.
31,548.
24,166.
2,799,989.
887,774.
1,154,550.
0.0
232,457.

18,270,994.
17,651,403.
619,591.
14,471,176.
10,873,932.
3,597,244.
3,799,818.
631,899.
146,109.
485,790.
769,347.
57,740.
48,567.
3,216,190.
1,152,930.
1,062,186.
0.0
2,440,132.

2,098,172.
468,126.

2,741,246.
496,969.
-

468,126.
-

496,969.
-

11,807.

36,123.
-

1,681,101.
551,931.
831,279.
0.0
-

(Thousand Rupees)
2010
2011
3,244,274.
4,163,733.
973,017.
1,811,331.
4,027,340.
4,301,109.
2,174,145.
2,283,486.
157,026.
173,325.
29,392.
23,415.
0.0
0.0
67,720.
45,501.
4,015,673.
4,116,445.
39,741.
63,026.
3,125,746.
3,005,990.
376,923.
537,810.
0.0
0.0
473,263.
509,619.
1,954,308.
2,024,906.
634,460.
397,902.
1,319,848.
1,627,004.
351,754.
373,682.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
351,754.
373,682.
4,953,885.
5,881,590.
92,364.
92,364.
92,364.
92,364.
0.0
0.0
4,861,521.
5,789,226.
37,887.
37,887.
4,823,634.
5,751,339.
0.0
0.0

2007
1,590,629.
3,042,505.
1,590,629.
136,824.
0.0
2,354,982.
305,420.
1,361,821.
328,389.
0.0
359,352.
919,915.
0.0
919,915.
0.0
0.0
0.0
3,025,696.
92,364.
92,364.
0.0
2,933,332.
-

2,299,065.
815,161.
923,640.
0.0
-

3,025,696.
0.0
297,891.
0.0

3,578,441.
0.0
560,264.
493,709.

4,268,051.
0.0
465,804.
0.0

5,305,639.
0.0
757,665.
634,460.

6,255,272.
0.0
1,001,074.
397,902.

.69
.15
4.16
2.
2.56
73.42

.22
.32
3.05
2.15
1.92
75.64

1.01
.43
2.76
2.18
2.53
78.69

.21
.23
2.71
1.92
2.05
76.3

.3
.32
2.94
2.21
2.03
79.2

.3
45.
58.45
58.45
1.36
5.8
-

.46
50.12
69.62
69.62
1.61
4.68
-

21.3
0.0
122.25
327.58

20.43
0.0
160.66
387.43

.31
38.41
53.04
51.28
1.56
9.8
48.45
17.6
2.29
140.43
433.91

.47
44.78
62.49
58.49
1.66
4.45
116.86
20.13
.1
207.03
536.34

.41
41.39
59.36
55.64
1.94
6.08
67.22
17.6
1.02
223.38
636.78

S.S. Oil Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
264,560.
133,356.
264,560.
8,704.
0.0

383,381.
1,476.
205,556.
88,582.
0.0
87,767.
319,863.
272,473.
47,390.
4,500.

0.0
4,500.
323,578.
56,584.
56,584.
0.0
266,994.

911,952.
911,952.
0.0
874,740.

37,212.
13,466.
13,466.
21,987.
938.
4,163.
0.0
0.0

328,078.
0.0
-3225
272,473.
.28
2.41
9.71
1.41
1.2
95.92

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.
.16
.29
.28
4.44
.1
0.0
-.57
57.19
238

Financial Statement Analysis of Non Financial Sector

2007
256,601.
404,269.
256,601.
8,011.
0.0
424,967.
13,565.
245,033.
102,885.
0.0
63,484.
417,008.
252,323.
164,685.
0.0
0.0
0.0
264,560.
56,584.
56,584.
0.0
207,976.
-

2008
257,871.
413,331.
257,871.
7,792.
0.0
649,193.
61,427.
391,035.
171,476.
0.0
25,255.
629,670.
455,586.
174,084.
0.0
0.0
0.0
277,394.
56,584.
56,584.
0.0
220,810.
-

1,026,554.
1,026,554.
0.0
959,708.
-

1,551,861.
1,551,861.
0.0 1,464,095.
-

66,846.
15,929.
-

87,766.
27,217.
-

15,929.
-

27,217.
-

35,942.

41,479.
-

15,053.
4,638.
0.0
0.0
-

264,560.
0.0
10,415.
252,323.
.28
3.5
10.02
1.51
1.02
93.49

2009
345,504.
23,661.
485,569.
320,624.
9,485.
1,219.
407,539.
3,180.
237,981.
105,829.
60,549.
296,510.
213,282.
83,228.
103,406.
20,837.
82,569.
353,127.
56,584.
56,584.
150,133.
150,133.
146,410.

(Thousand Rupees)
2010
2011
347,083.
337,281.
31,522.
486,714.
530,185.
314,342.
336,062.
8,875.
26,193.
1,219.
1,219.
518,446.
497,653.
9,441.
10,458.
249,048.
101,941.
71,443.
123,856.
188,514.
261,398.
399,266.
327,236.
323,178.
234,217.
76,088.
93,019.
100,075.
102,667.
20,837.
0.0
0.0
0.0
79,238.
102,667.
366,188.
405,031.
56,584.
56,584.
56,584.
56,584.
0.0
166,500.
215,016.
166,500.
215,016.
143,104.
133,431.

973,683.
973,683.

1,225,235.
1,225,235.

913,542.
716,613.
196,929.
60,141.
18,609.
8,923.
9,686.
13,668.
30,586.
29,411.
11,337.
15,981.

.37
3.14
10.87
1.29
1.37
93.82

0.0
0.0

0.0

0.0
0.0
0.0
0.0

0.0
0.0

0.0
1,148,892.
1,056,011.
92,881.
76,343.
15,207.
4,762.
10,445.
14,706.
47,575.
46,335.
15,137.
2,077.

-94218

277,394.
456,533.
0.0
20,837.
12,097. -4644
455,586.
234,119.

0.0

1,623,310.
1,623,310.

19,133.
7,036.
0.0 0.0 -43065

.37
2.67
11.05
1.71
1.03
94.34

2011

1,508,465.
17,617.
1,490,848.
114,845.
21,569.
6,272.
15,297.
17,825.
33,480.
31,541.
62,893.
24,049.
0.0
0.0
103,780.

466,263.
20,837.
13,060.
344,015.

507,698.

.2
3.88
5.83
1.42
1.3
93.77

.41
2.06
7.63
1.94
1.52
92.93

0.0
38,844.
234,217.

1.58
2.26
5.12
5.08
-

2.27
2.41
7.06
7.06
-

4.19
-

3.97

1.47
0.0
1.84
46.76

1.13
1.37
3.6
3.09

1.23
0.0
2.14
49.02

1.36
1.87
4.21
3.28

1.06
7.4
16.31
12.91

4.92
1.33
1.24
-.19
11,582.83
324,769.87

15.92
2.99
3.87
.24
6.86
71.58

4.09
1.39
1.16
-.11
-4,118.73
313,186.15

Shakarganj Food Ltd. (Al-Jadeed Textile Mills Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
12,396.
41,988.
12,396.
977.
0.0
5,818.
2,308.
2,229.
216.
0.0
1,065.
66,887.
0.0
66,887.
0.0
0.0
0.0
-48673
23,228.
23,228.
0.0
-71901
5,986.
5,986.
0.0
1,911.
4,075.
9,489.
9,489.
17.
-4844
26.
0.0
0.0
-48673
0.0
-4870
0.0
.04
.28
3.61
.33
.09
31.92

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
239

-1.37
-26.59
9.95
9.95
2.69
-80.92
0.0
-2.1
-20.95

2011

Financial Statement Analysis of Non Financial Sector

2007

2008

2009

0.0
-

0.0
-

0.0
0.0
0.0
0.0
-

0.0
0.0
0.0
0.0
-

470.
0.0
0.0
0.0
0.0
470.
940.
0.0
940.
30,847.
-

0.0
0.0
0.0
0.0
0.0
0.0
31,575.
0.0
31,575.
0.0
-

0.0

0.0

30,847.
-31317
30,000.
30,000.
0.0
-61317
-

0.0
-31575
30,000.
30,000.
0.0
-61575
-

0.0
0.0
0.0
0.0

0.0
0.0
0.0
0.0

0.0
258.
-

201.
-

258.
-

0.0
-201

0.0
-258

0.0
0.0
0.0
-

-122
0.0
0.0
0.0

-31575
0.0

-201

0.0

0.0

0.0

0.0 .5
-

0.0
0.0
0.0
0.0
-943

0.0
-122

0.0

0.0
31,742.
0.0

-93
0.0

0.0
-

0.0
-

0.0
-

-49
0.0

0.0

0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
96.
0.0
96.
0.0
0.0
0.0
31,742.
0.0
0.0
0.0
30,847.

-93

-850
0.0

-258

0.0
0.0
0.0
0.0
0.0
0.0
0.0
93.
0.0
93.
0.0
0.0
0.0

0.0
0.0
0.0
0.0

-470

0.0
0.0
0.0
0.0
0.0
0.0
0.0
122.
0.0
122.
0.0
0.0
0.0

0.0
201.

0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
850.
0.0
850.
30,847.
0.0
30,847.
0.0
0.0
0.0
-31697
30,000.
30,000.
0.0
-61697
0.0
-61697
0.0

(Thousand Rupees)
2010
2011
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
943.
49.
0.0
0.0
943.
49.
30,847.
0.0
0.0
0.0
30,847.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-31790
-49
30,000.
30,000.
30,000.
30,000.
0.0
0.0
-61790
-30049
0.0
0.0
-61790
-30049
0.0
0.0

0.0
-

0.0
-

0.0
-

-1.02
-2.15
.5
.82
-

0.0
-.07
-10.44

-1.
-109.79 .82
1.61
0.0
-.09
-10.53

-1.

-1.
-

.39
.75

.29
10.37
-

0.0
-.04
-10.57

-1.
-199.39
-6,399.6
-

0.0
-.03
-10.6

629.53
10.58
-.02

Shezan International Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
232,678.
407,700.
232,678.
25,619.
0.0

769,204.
76,694.
582,412.
42,565.
11,050.
56,483.
406,713.
77,206.
329,507.
43,762.

0.0
43,762.
551,407.
50,000.
50,000.
0.0
501,407.

2,182,570.
2,138,331.
44,239.
1,622,131.

560,439.
383,675.
383,675.
8,942.
186,430.
55,000.
55,000.
0.0

595,169.
0.0
76,430.
77,206.
.32
.41
1.95
2.18
1.89
74.32

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.82
21.01
36.2
33.92
2.39
3.75
8.54
0.0
26.29
110.28
240

2011

Financial Statement Analysis of Non Financial Sector

2008
292,922.
515,372.
292,922.
36,219.
0.0
1,015,133.
84,042.
689,438.
74,892.
9,915.
156,846.
566,926.
23,388.
543,538.
4,429.
0.0
4,429.
736,700.
60,000.
60,000.
0.0
676,700.
-

2009
310,979.
4,105.
551,529.
295,665.
39,271.
11,209.
1,043,406.
70,844.
755,711.
86,291.
130,560.
530,881.
30,228.
500,653.
45,684.
45,684.
777,820.
60,000.
60,000.
717,820.
134,371.
-

2,634,365.
2,574,276.
60,089.
1,949,316.

3,020,443.
2,961,277.
59,166.
2,243,314.

2,728,709.
2,604,076.
124,633.
1,974,446.
530,134.
1,444,312.
754,263.
607,290.
443,862.
163,428.
234,816.
6,542.
2,541.
160,570.
58,099.
36,000.
57,625.
113,454.

3,528,134.
3,311,217.
216,917.
2,591,790.
2,354,285.
237,505.
936,344.
772,607.
580,492.
192,115.
234,816.
17,950.
15,486.
165,219.
50,000.
36,000.
0.0
170,645.

4,221,827.
3,928,031.
293,796.
3,130,544.
2,865,456.
265,088.
1,091,283.
869,118.
629,912.
239,206.
190,200.
40,343.
37,593.
210,602.
66,046.
45,000.
0.0
98,443.

685,049.
427,694.

777,129.
519,746.
-

427,694.
-

519,746.
-

12,940.

8,104.
-

257,655.
110,000.
50,000.
10,000.
-

(Thousand Rupees)
2010
2011
427,495.
433,769.
7,050.
40,789.
705,220.
731,594.
409,752.
382,308.
44,875.
54,973.
0.0
0.0
8,105.
8,358.
2,588.
2,314.
1,191,958.
1,511,800.
99,509.
82,608.
842,482.
1,159,551.
135,317.
165,627.
0.0
0.0
114,650.
104,014.
680,194.
920,811.
112,948.
231,174.
567,246.
689,637.
91,121.
71,747.
37,228.
13,900.
0.0
0.0
0.0
0.0
0.0
0.0
53,893.
57,847.
848,138.
953,011.
60,000.
60,000.
60,000.
60,000.
0.0
0.0
788,138.
893,011.
3,022.
3,293.
785,116.
889,718.
0.0
0.0

2007
256,787.
451,226.
256,787.
33,787.
0.0
863,560.
108,186.
610,903.
59,749.
0.0
84,722.
467,888.
39,066.
428,822.
27,047.
0.0
27,047.
625,412.
50,000.
50,000.
0.0
575,412.
-

268,399.
90,000.
60,000.
0.0
-

652,459.
0.0
97,655.
39,066.

741,129.
0.0
118,399.
23,388.

823,504.
0.0
66,471.
30,228.

939,259.
37,228.
79,219.
150,176.

1,024,758.
13,900.
99,556.
245,074.

.36
.49
2.27
2.35
1.85
74.

.3
.27
2.48
2.31
1.79
74.27

.3
.24
3.16
2.01
1.97
72.36

.35
.51
3.84
2.18
1.75
73.46

.27
.96
3.92
2.17
1.64
74.15

.79
24.28
43.79
41.3
2.95
4.31
-

.78
22.1
39.41
38.52
2.97
4.38
-

9.78
0.0
29.53
125.08

8.89
0.0
29.73
122.78

.74
12.06
21.2
20.52
2.85
3.61
64.19
5.88
.2
17.08
129.64

.91
11.11
20.32
18.75
3.2
4.19
11.67
4.68
.22
19.2
141.36

1.04
11.81
23.39
21.45
3.21
3.64
6.6
4.99
.1
24.09
158.84

Unilever Pakistan Foods Ltd. (Rafhan Bestfoods Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
283,455.
508,699.
102,310.
21,714.
181,145.

602,997.
172,096.
279,859.
64,279.
0.0
86,763.
326,988.
0.0
326,988.
0.0

0.0
0.0
559,464.
61,576.
61,576.
0.0
497,888.

2,373,176.
2,373,176.
0.0
1,641,925.

731,251.
467,757.
467,757.
4,345.
290,116.
76,300.
215,516.
0.0

559,464.
0.0
-1700
0.0
.72
.18
2.71
2.68
1.84
69.19

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.58
35.63
52.77
52.77
.99
8.48
12.22
0.0
34.72
90.86
241

Financial Statement Analysis of Non Financial Sector

2007
377,495.
614,758.
196,350.
21,425.
181,145.
569,053.
16,151.
378,002.
88,101.
0.0
86,799.
747,566.
362,367.
385,199.
0.0
0.0
0.0
198,982.
61,576.
61,576.
0.0
137,406.
-

(Thousand Rupees)
2008
2009
2010
2011
488,852.
374,153.
384,648.
730,854.
200.
3,575.
27,154.
731,115.
737,570.
780,556.
1,100,287.
307,707.
288,672.
297,151.
593,548.
29,633.
38,791.
39,186.
39,186.
181,145.
81,637.
81,637.
81,637.
355.
0.0
0.0
3,289.
2,285.
28,515.
526,761.
600,683.
704,825.
1,036,314.
8,022.
40,696.
80,436.
93,212.
352,394.
333,840.
358,094.
593,162.
49,976.
79,649.
96,606.
188,563.
0.0
0.0
0.0
0.0
116,369.
146,498.
169,689.
161,377.
714,390.
680,683.
646,896.
1,171,104.
242,591.
148,775.
170,204.
94,526.
471,799.
531,908.
476,692.
1,076,578.
0.0
25,497.
38,182.
104,529.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
8,939.
17,519.
0.0
25,497.
29,243.
87,010.
301,223.
268,656.
404,395.
491,535.
61,576.
61,576.
61,576.
61,576.
61,576.
61,576.
61,576.
61,576.
0.0
0.0
239,647.
207,080.
342,819.
429,959.
25,258.
25,258.
25,258.
181,822.
317,561.
404,701.
0.0
0.0
0.0

2,916,978.
2,916,978.
0.0
2,028,643.
-

3,748,416.
3,748,416.
0.0
2,591,303.
-

888,335.
553,293.
-

1,157,113.
625,505.
-

553,293.
-

625,505.
-

8,710.

22,233.
-

346,074.
118,925.
572,657.
0.0
-

2011

530,311.
152,750.
221,674.
0.0
-

3,376,511.
3,376,511.
0.0
2,122,144.
1,843,781.
278,363.
1,254,367.
1,020,355.
797,304.
223,051.
252,199.
22,517.
20,854.
241,656.
64,864.
0.0
48,941.
351,377.

4,040,887.
4,040,887.
2,506,003.
2,115,987.
390,016.
1,534,884.
900,152.
786,593.
113,559.
282,287.
12,449.
9,166.
645,859.
208,396.
437,190.
0.0
368,273.

3,015,502.
2,646,778.
368,724.
1,924,749.
1,090,336.
850,012.
240,324.
109,739.
6,863.
3,372.
910,132.
293,437.
615,760.
0.0
964,204.

0.0

4,940,251.
4,940,251.
-

0.0

198,982.
0.0
-345508
362,367.

301,223.
0.0
155,887.
242,591.

294,153.
0.0
176,792.
148,775.

442,577.
0.0
273.
170,204.

596,064.
0.0
935.
94,526.

.14
.3
3.02
3.08
.76
69.55

.08
.59
1.33
3.69
.74
69.13

.18
.67
2.36
3.46
.88
62.85

.27
.31
2.39
3.71
1.09
62.02

.24
.14
3.82
2.8
.88
61.04

3.76
37.76
91.26
91.26
.4
7.72
-

2.37
54.05
212.04
212.04
1.7 10.64
-

11.86
0.0
36.89
32.31

14.15
0.0
61.32
48.92

2.63
24.28
84.81
81.18
10.11
12.59
7.16
.5
28.71
43.63

1.69
62.57
191.92
175.33
1.
11.28
71.46
15.98
.54
71.04
65.67

2.6
63.72
203.17
175.25
1.
8.33
270.91
18.42
.76
100.15
79.83

Unilever Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,154,393.
4,078,081.
2,137,350.
287,039.
17,043.

4,275,453.
585,860.
2,156,472.
174,722.
95,202.
1,263,197.
4,589,558.
200.
4,589,358.
0.0

0.0
0.0
1,840,288.
664,694.
664,694.
0.0
1,175,594.

26,536,773.
26,536,773.
0.0
18,658,571.

7,878,202.
5,519,695.
5,519,695.
63,946.
2,434,046.
860,016.
1,622,000.
0.0

1,840,288.
0.0
-47970
200.
.19
.24
.66
4.13
.93
70.31

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.49
39.78
125.88
125.23
.97
12.31
9.17
0.0
23.68
27.69
242

2011

Financial Statement Analysis of Non Financial Sector

2007
3,525,672.
5,873,999.
3,513,499.
372,971.
12,173.
4,558,504.
188,682.
2,726,064.
239,313.
95,202.
1,309,243.
6,041,939.
440,830.
5,601,109.
52,932.
0.0
52,932.
1,989,305.
664,694.
664,694.
0.0
1,324,611.
-

2008
4,435,581.
6,964,584.
4,428,278.
453,671.
7,303.
6,950,837.
106,789.
4,261,770.
228,763.
95,202.
2,258,313.
9,079,720.
3,264,845.
5,814,875.
77,327.
0.0
77,327.
2,229,371.
669,477.
664,694.
4,783.
1,559,894.
-

29,854,807.
29,854,807.
0.0
20,771,722.
-

9,083,085.
6,635,476.

6,635,476.

109,227.

2,544,617.
727,918.
1,646,913.
0.0

2009
5,773,444.
173,571.
7,420,413.
4,563,048.
496,867.
357,556.
200.
679,069.
5,698,648.
278,644.
3,649,070.
506,357.
1,264,577.
7,107,469.
1,037,911.
6,069,558.
1,019,952.
327,060.
692,892.
3,344,671.
669,477.
669,477.
2,662,229.
12,965.

39,057,172. 38,187,582.
39,057,172. 38,187,582.
0.0 28,121,492. 24,852,625.
20,593,398.
4,259,227.
10,935,680. 13,334,957.
7,785,376.
8,583,957.
7,179,694.
7,785,376.
1,404,263.
1,872,013.
466,166.
427,708.
229,009.
2,937,217.
4,515,605.
863,347.
1,459,865.
1,635,147.
306,620.
0.0
392,348.
5,212,666.

(Thousand Rupees)
2010
2011
5,979,141.
7,262,055.
308,981.
1,191,041.
7,918,431.
8,071,066.
4,588,190.
4,526,190.
553,006.
586,874.
821,086.
1,288,730.
200.
200.
260,684.
255,894.
7,574,893.
8,779,807.
1,762,650.
962,086.
3,881,007.
5,204,390.
522,795.
833,179.
0.0
1,408,441.
1,780,152.
8,975,421. 10,948,936.
297,143.
839,878.
8,678,278. 10,109,058.
954,763.
846,461.
19,818.
3,291.
0.0
0.0
0.0
0.0
358,802.
462,106.
576,143.
381,064.
3,623,850.
4,246,465.
669,477.
669,477.
669,477.
669,477.
0.0
0.0
2,942,056.
3,565,319.
392,400.
392,400.
2,549,656.
3,172,919.
12,317.
11,669.
44,671,507.
44,671,507.
0.0
30,094,225.
25,633,234.
4,460,991.
14,577,282.
9,731,597.
8,033,561.
1,698,036.
2,061,532.
189,657.
132,631.
4,796,651.
1,512,820.
3,293,827.
0.0
6,172,170.

51,875,986.
51,875,986.
0.0
33,792,460.
29,582,667.
4,209,793.
18,083,526.
12,280,529.
9,807,202.
2,473,327.
2,556,755.
224,722.
44,087.
5,943,067.
1,830,965.
4,110,589.
0.0
4,653,923.

2,042,237.
0.0
169,786.
440,830.

2,306,698.
0.0
438,723.
3,264,845.

4,364,623.
0.0
2,749,120.
1,037,911.

4,578,613.
19,818.
-9996
316,961.

5,092,926.
3,291.
1,513.
843,169.

.09
.37
.8
3.69
.75
69.58

.05
1.19
.59
3.43
.77
72.

.11
1.12
1.33
3.33
.8
65.08

.25
.42
1.17
3.3
.84
67.37

.16
.43
1.61
3.23
.8
65.14

3.06
35.06
132.89
131.08
1.1
10.95
-

4.11
30.17
139.25
135.08
1.27
9.16
-

8.52
0.0
136.66
149.64

7.52
0.0
156.
167.7

2.43
39.51
162.02
135.37
9.97
10.47
20.72
11.82
.64
45.64
49.96

2.74
38.33
137.67
107.27
1.
11.51
37.17
10.74
.62
245.25
270.65

2.78
40.16
151.02
122.9
1.
9.97
135.8
11.46
.39
307.11
317.15

Wazir Ali Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
103,390.
141,100.
103,390.
5,578.
0.0

212,826.
14,238.
43,287.
41,367.
50,000.
63,934.
230,662.
150,451.
80,211.
39,677.

0.0
39,677.
45,877.
76,057.
76,057.
0.0
-30180

1,150,464.
1,150,464.
0.0
976,044.

174,420.
176,558.
176,558.
24,699.
-25027
10,396.
0.0
0.0

85,554.
0.0
-35423
150,451.
.46
2.15
3.6
3.64
.92
84.84

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.89
-7.35
-43.26
-24.03
26.58
-2.18
0.0
-4.66
6.03
243

2011

Financial Statement Analysis of Non Financial Sector

2007
141,901.
170,611.
141,901.
5,039.
0.0
232,400.
12,867.
104,905.
37,236.
50,000.
27,392.
354,826.
175,161.
179,665.
17,940.
0.0
17,940.
1,535.
79,860.
79,860.
0.0
-78325
-

2008
136,324.
168,154.
136,324.
4,498.
0.0
299,898.
10,451.
176,295.
33,093.
50,000.
30,059.
475,790.
122,315.
353,475.
0.0
0.0
0.0
-39568
79,860.
79,860.
0.0
-119428
-

885,114.
885,114.
0.0
796,141.
-

922,010.
922,010.
0.0 818,217.
-

88,973.
143,377.
-

103,793.
87,926.
-

143,377.
-

2009
182,668.
166,059.
132,298.
4,254.
50,000.
370.
256,141.
65,832.
131,463.
11,167.
47,679.
190,254.
101,382.
88,872.
9,027.
0.0
9,027.
239,528.
79,860.
79,860.
41,421.
345,646.
-304225
118,247.

87,926.
-

32,753.
56,397.
-62764
-37610
4,504.
4,698.
3,993.
0.0
0.0
0.0
-

897,774.
897,774.

841,249.
658,978.
182,271.
56,525.
109,987.
68,629.
41,358.
50,393.
44,668.
926.
-57021
1,117.
0.0
11,778.
-124430

19,475. -39568
248,555.
0.0
0.0
0.0
-71261
-42308
-58138
175,161.
122,315.
101,382.
.28
3.7
4.21
2.36
.65
89.95

.2
6.12
3.59
2.11
.63
88.74

.4
4.98
1.24
2.05
1.35
93.7

(Thousand Rupees)
2010
2011
289,129.
279,316.
0.0
0.0
177,168.
175,843.
152,388.
147,947.
3,967.
3,972.
0.0
135,399.
130,500.
1,342.
869.
348,652.
677,487.
89,601.
28,149.
144,642.
573,689.
83,754.
20,152.
0.0
0.0
30,655.
55,497.
408,513.
792,202.
83,354.
183,304.
325,159.
608,898.
30,638.
26,732.
0.0
0.0
0.0
0.0
0.0
0.0
1,877.
870.
28,761.
25,862.
198,630.
137,869.
79,860.
79,860.
79,860.
79,860.
0.0
-100826
-159387
360,646.
345,646.
-461472
-505033
219,596.
217,396.
0.0
797,148.
0.0
797,148.
0.0
0.0
0.0
658,456.
0.0
638,846.
0.0
19,610.
0.0
138,692.
10,195.
57,789.
0.0
36,214.
10,195.
21,575.
0.0
1,455.
66,815.
70,045.
20,961.
64,470.
-75177
15,684.
0.0
7,994.
0.0
0.0
0.0
0.0
48,227. -144286
229,268.
0.0
-75177
83,354.

164,601.
0.0
7,690.
183,304.

.42

.06
8.79
2.53
.83
.86
82.6

0.0
.85
-

242.84
-18.18
-264.76
-119.52
-16.85 8.44
-7.09
0.0
-8.42
.19

-12.02
-9.28
197.78
374.36

.83
-13.03
-57.03
-54.57
-

5.23
-4.08
0.0
-5.3
-4.95

2.21
-13.97
-34.32
-31.47
-

6.83
-60.58
-6.35
-.62
-7.28
29.99

5.94
1.97
9.32
7.96
-

0.0
-2.59
.11
-9.41
24.87

1.39
1.24
1.97
-.18
.96
17.26

0.80141454

CHEMICALS, CHEMICAL PRODUCTS &

PHARMA.

RODUCTS &

Chemicals, Chemical Products and Pharma. - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
71,819,647.
119,291,767.
69,915,245.
5,836,364.
1,904,402.

96,769,788.
20,871,730.
18,357,462.
8,275,105.
26,589,626.
22,675,865.
76,078,336.
28,968,779.
47,109,557.
9,220,472.

1,408,633.
7,811,839.
83,290,627.
39,943,911.
39,943,911.
43,346,716.

198,891,224.
194,257,175.
4,634,049.
151,305,404.

47,585,820.
20,371,641.
20,371,641.
4,693,235.
30,159,021.
6,403,968.
12,223,720.
632,716.

92,511,099.
1,408,633.
11,531,333.
30,377,412.
.73
2.36
4.16
1.18
1.27
76.07

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.02
18.86
37.85
33.57
1.94
10.83
15.16
0.0
5.97
20.92
246

Financial Statement Analysis of Non Financial Sector

2011

2007
82,883,488.
148,975,273.
80,841,721.
6,129,803.
2,041,767.
130,375,717.
18,366,897.
19,999,682.
13,457,038.
55,419,315.
23,132,785.
77,403,737.
20,842,526.
56,561,211.
34,157,037.
13,069,395.
21,087,642.
101,698,431.
40,704,617.
40,704,617.
0.0
0.0
60,993,814.
-

2008
107,679,493.
177,716,269.
105,619,375.
6,776,939.
2,060,118.
146,793,388.
19,418,482.
28,446,954.
10,172,191.
49,775,394.
38,980,367.
103,838,944.
30,868,503.
72,970,441.
40,298,356.
12,879,902.
27,418,454.
110,335,581.
42,072,022.
42,072,022.
0.0
68,263,559.
-

2009
313,374,014.
130,764,852.
195,625,201.
129,257,161.
8,805,988.
5,551,835.
45,784,912.
2,015,253.
138,381,782.
43,904,639.
27,966,341.
16,896,230.
20,717,880.
28,896,691.
110,939,615.
39,583,316.
71,356,299.
174,657,127.
119,966,504.
17,727,316.
10,137,858.
1,353,172.
25,472,277.
166,159,054.
73,723,547.
73,723,547.
0.0
87,521,988.
21,704,237.
65,817,751.
4,913,520.

(Thousand Rupees)
2010
2011
404,040,260. 430,389,266.
151,593,553. 37,998,953.
345,698,615. 504,450,036.
206,340,112. 338,632,457.
14,959,415. 19,268,322.
6,658,705.
6,522,004.
32,837,518. 38,106,420.
6,610,372.
9,129,432.
181,583,247. 221,477,940.
51,742,380. 37,864,788.
40,813,825. 56,922,469.
22,694,281. 23,720,330.
22,679,322. 51,001,508.
43,653,439. 51,968,845.
174,827,027. 215,093,468.
49,555,531. 53,304,473.
125,271,496. 161,788,995.
208,089,599. 200,188,555.
161,540,340. 154,491,140.
8,928,669.
3,982,248.
966,690.
661,377.
36,653,900. 41,053,790.
202,706,881. 236,585,183.
86,767,108. 93,341,785.
82,767,108. 89,341,785.
4,000,000.
4,000,000.
104,393,667. 131,146,129.
27,284,358. 28,385,800.
77,421,535. 102,941,060.
11,546,106. 12,097,269.

217,797,896.
216,179,445.
1,618,451.
163,839,624.
53,958,272.
22,725,914.
22,725,914.
5,890,924.
40,925,058.
6,992,715.
12,206,516.
601,374.
-

255,485,929.
252,752,148.
2,733,781.
176,669,468.
78,816,461.
26,727,743.
26,727,743.
11,733,264.
50,257,060.
10,589,828.
15,101,501.
205,832.
-

328,741,867.
321,339,241.
7,402,627.
243,032,804.
134,845,561.
108,187,243.
85,709,063.
36,936,641.
16,548,939.
20,387,702.
17,756,372.
12,970,450.
11,774,014.
44,063,457.
14,636,477.
20,210,085.
1,164,755.
72,991,534.

428,275,398.
416,719,338.
11,556,060.
314,534,757.
199,839,173.
114,695,584.
113,740,641.
45,723,049.
30,047,358.
15,675,691.
27,280,164.
15,476,691.
13,664,988.
62,291,408.
21,146,649.
23,400,331.
6,433,900.
51,537,539.

543,797,417.
527,118,245.
16,679,172.
377,028,548.
248,852,418.
128,176,130.
166,768,869.
56,018,939.
33,807,622.
22,211,317.
31,759,790.
26,382,267.
22,313,119.
100,524,289.
32,539,098.
37,873,647.
5,775,428.
81,232,248.

135,855,468. 150,633,937. 340,816,182. 410,796,480. 436,773,738.

13,069,395. 12,879,902. 130,104,362. 161,540,340. 154,491,140.
21,725,827. 24,565,731.
9,216,894. 17,744,428. 30,111,544.
33,911,921. 43,748,405. 169,687,678. 211,095,871. 207,795,613.
1.13
2.7
6.18
1.02
1.68
75.23

.76
4.59
3.98
1.
1.41
69.15

.73
3.95
5.14
.73
1.25
73.93

.56
3.61
5.3
.73
1.04
73.44

.52
4.85
4.36
.83
1.03
69.33

1.1
21.44
44.25
35.84
2.78
10.89
-

1.31
21.49
47.4
35.08
2.63
8.98
-

18.79
0.0
8.14
24.4

19.67
0.0
9.13
25.39

1.72
12.48
31.87
17.93
1.46
11.75
4.74
13.4
.26
3.99
22.54

1.89
12.01
33.77
16.58
1.76
10.49
5.56
14.54
.13
4.85
23.89

1.76
16.25
45.77
23.72
1.8
9.55
5.51
18.49
.2
7.44
25.88

Growth with Composition of Assets & L

500
400
300
6.1%
Billion Rs

200

100
0
Non-Current Assets

Current Assets
2010

Growth & Composition of Operations

600
500
400
300
Billion Rs
200

21.2%

100
0
Sales

Profitability/Efficiency Ratios
50
45
40
35
30
25
Percentage 20

45.77
33.77

16.25
12.01

16.58

15
10
5
0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

2,000.%
18.%

18.7%
14.3% 15%
1,000.%
500.%
0.0%
-500.%
-1,000.%

-3.9%
Current Liabilities
Non-Current
Liabilities
2011
Growth

Shareholders Equity

of Operations
2010

2011

Growth
4,000.%
38.%
3,500.%
3,000.%
2,500.%
2,000.%
1,500.%

31.8%

1,000.%
500.%
0.0%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

20

18.49 2010

2010

2011

14.54
15

2011
23.72
10

Percentage
5
1.041.03
1.891.76
0
Current
Debt
Ratio
Equity
Ratio

247

7.44

4.85

Net
Profit
Margin

Earning
Per Share
after Tax

Abbott Laboratories (Pakistan) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,437,023.
2,761,341.
1,437,023.
159,718.
0.0

3,598,402.
1,608,841.
1,256,141.
208,742.
0.0
524,678.
793,539.
0.0
793,539.
0.0

0.0
0.0
4,241,886.
979,003.
979,003.
0.0
3,262,883.

6,103,803.
5,939,774.
164,029.
3,625,175.

2,478,628.
1,143,720.
1,143,720.
3,660.
1,439,970.
417,523.
293,701.
195,801.

4,241,886.
0.0
728,746.
0.0
2.29
.06
3.42
1.21
4.53
59.39

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.19
31.43
37.31
37.31
3.48
4.86
23.59
0.0
10.44
43.33
248

Financial Statement Analysis of Non Financial Sector

2007
1,516,821.
3,001,118.
1,516,821.
185,830.
0.0
3,164,547.
496,118.
1,363,508.
128,817.
0.0
1,176,104.
992,095.
0.0
992,095.
0.0
0.0
0.0
3,689,273.
979,003.
979,003.
0.0
2,710,270.
-

(Thousand Rupees)
2008
2009
2010
2011
1,560,835.
1,705,391.
1,933,748.
2,429,566.
159,886.
392,954.
420,313.
3,223,208.
330,252.
3,469,184.
3,987,748.
1,560,835.
1,502,899.
1,484,642.
1,877,749.
203,002.
206,300.
256,102.
269,855.
0.0
0.0
0.0
42,606.
56,152.
55,449.
3,455,054.
3,259,185.
3,856,673.
4,975,763.
1,051,489.
770,784.
819,087.
1,453,327.
1,696,200.
1,675,000.
2,069,633.
2,316,562.
139,004.
234,185.
263,267.
411,813.
0.0
0.0
568,361.
579,216.
704,686.
794,061.
1,447,377.
1,606,489.
1,762,700.
2,053,927.
0.0
0.0
1,447,377.
1,606,489.
1,762,700.
2,053,927.
0.0
119,627.
115,182.
165,219.
0.0
0.0
0.0
0.0
0.0
0.0
119,627.
115,182.
165,219.
3,568,512.
3,238,460.
3,912,539.
5,186,183.
979,003.
979,003.
979,003.
979,003.
979,003.
979,003.
979,003.
979,003.
0.0
0.0
2,589,509.
2,259,457.
2,933,536.
4,207,180.
173,853.
197,167.
223,247.
2,085,604.
2,736,369.
3,983,933.
0.0
-

6,838,601.
6,665,534.
173,067.
4,104,715.
-

8,450,118.
8,029,624.
420,494.
6,128,987.
3,133,634.
2,995,353.
2,321,131.
1,584,518.
1,252,810.
331,708.
1,309,953.
2,525.
0.0
875,978.
241,173.
1,174,804.
0.0
1,074,757.

10,995,701.
10,370,187.
625,514.
7,308,663.
4,136,863.
3,171,800.
3,687,038.
2,051,330.
1,601,101.
450,229.
1,561,094.
3,530.

917,503.

1,772,876.

3,689,273.
3,568,512.
3,358,087.
0.0
0.0
0.0
-457763
-148815
-539999
0.0
0.0
0.0

4,027,721.
0.0
715,852.
0.0

5,351,402.
0.0
1,133,827.
0.0

.61
.03
2.39
1.9
2.19
66.47

.91
.02
3.18
1.75
2.42
63.96

7,377,635.
7,219,468.
158,167.
5,279,982.
-

2,733,886.
1,135,050.
-

2,097,653.
1,655,672.
-

1,135,050.
-

1,655,672.
-

3,202.

2,704.
-

1,769,028.
464,586.
1,762,205.
0.0
-

2011

544,822.
204,135.
489,502.
0.0
-

.63
.05
1.88
1.46
3.19
60.02

.82
.04
1.88
1.47
2.39
71.57

.63
.03
2.77
1.7
2.03
72.53

12,946,968.
12,291,359.
655,609.
8,280,490.
5,021,580.
3,258,910.
4,666,478.
2,430,902.
1,894,390.
536,512.
1,676,813.
3,216.
-

1,741,257.
535,904.
489,502.

2,374,826.
653,597.
587,402.
-

76,055.

.27
36.41
44.61
44.61
.74
5.02
-

.41
11.24
15.01
15.01
.7
4.35
-

25.87
0.0
13.32
37.68

.53
17.55
25.74
25.29
.54
5.04

.48
32.38
48.7
47.15
2.46
5.31

10.37
.62
6.48
33.08

15.84
.49
12.31
39.96

7.38
0.0
3.48
36.45

.43
35.99
52.2
50.64
2.93
5.59
18.34
.8
17.58
52.97

Agritech Ltd.
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

249

Financial Statement Analysis of Non Financial Sector

2011

2007
-

2008
-

(Thousand Rupees)
2009
2010
2011
21,262,287. 36,495,016. 39,634,087.
4,287,584.
8,088,034. 11,829,232.
20,444,723. 32,358,809. 31,070,071.
14,361,612. 25,790,552. 24,479,320.
411,320.
499,328.
639,080.
2,567,311.
2,567,311.
2,567,311.
0.0
45,780.
49,119.
758,224.
5,873,762.
4,448,628.
4,123,307.
293,485.
86,497.
120,863.
2,289,563.
413,608.
395,045.
780,726.
311,346.
68,802.
0.0
2,509,988.
3,637,177.
3,538,597.
4,346,627. 12,535,929. 11,049,116.
2,010,103.
4,787,719.
3,169,436.
2,336,523.
7,748,210.
7,879,680.
15,031,991. 15,132,258. 19,382,224.
2,027,835.
2,643,985.
6,576,509.
31,135.
31,135.
31,135.
10,137,858.
0.0
14,073.
20,373.
2,835,163. 12,443,065. 12,754,207.
7,757,432. 13,275,457. 13,326,054.
3,924,300.
3,924,300.
3,924,300.
3,924,300.
3,924,300.
3,924,300.
0.0
3,833,132.
5,087,566.
5,296,083.
0.0
340,000.
340,000.
3,833,132.
4,747,566.
4,956,083.
0.0
4,263,591.
4,105,671.

12,997,800.
12,997,800.
0.0
8,184,905.
1,049,077.
7,135,828.
4,812,895.
487,537.
272,796.
214,742.
498,280.
2,698,073.
2,651,045.
1,908,122.
0.0
0.0
0.0
-560155

22,789,423.
12,165,693.
1,908,122.
14,175,797.

.25
20.76
6.01
.48
1.35
62.97

12,854,551.
12,854,551.

5,149,162.
5,149,162.
-

9,696,606.
3,705,748.
1,930,381.
1,754,727.
7,766,225.
1,951,021.
3,157,945.
1,443,414.
642,393.
527,447.
383,343.
244,512.
259,050.
282,935.
641,940.
732,218.
2,429,031.
1,947,011.
2,314,427.
1,898,020.
267,959. -996893
64,273.
51,786.
4,959,937.
3,484,142.
28,407,715. 32,708,278.
2,643,985.
6,576,509.
203,686. -1048679
7,431,704.
9,745,945.
.03
18.9
2.42
.31
.35
75.43

.02
37.81
1.34
.12
.37
71.97

2.5
7.03
24.6
8.37

2.08
.79
2.55
1.05
-

5.68
1.72
14.68
-.03
4.86
19.77

2.28
-2.35
-7.5
-3.26
-

31.08
1.12
2.08
.18
.52
33.83

13.03
.47
-19.36
.11
-2.67
33.96

Bawany Air Products Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
172,422.
248,621.
172,422.
3,851.
0.0

16,069.
568.
868.
7,896.
0.0
6,737.
94,777.
64,837.
29,940.
45,083.

0.0
45,083.
48,631.
48,718.
48,718.
0.0
-87

61,796.
61,796.
0.0
64,548.

-2752
14,091.
14,091.
2,126.
-11885
275.
0.0
0.0

93,714.
0.0
-12160
64,837.
.09
3.44
12.78
.33
.17
104.45

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.88
-6.81
-26.6
-12.95
71.19
-19.23
0.0
-2.5
9.98
250

Financial Statement Analysis of Non Financial Sector

2007
183,837.
262,397.
183,837.
3,421.
0.0
13,766.
914.
922.
7,309.
0.0
4,621.
91,398.
16,175.
75,223.
69,763.
0.0
69,763.
36,442.
48,718.
48,718.
0.0
-12276
-

(Thousand Rupees)
2008
2009
2010
2011
186,609.
186,150.
222,810.
207,701.
0.0
268,185.
268,055.
295,694.
296,852.
186,609.
182,695.
208,774.
201,919.
3,029.
4,002.
7,172.
8,068.
0.0
0.0
0.0
3,454.
14,036.
5,782.
17,683.
18,879.
27,107.
18,555.
1,602.
658.
192.
258.
1,098.
1,500.
3,258.
2,781.
8,116.
9,533.
12,996.
9,082.
0.0
0.0
6,867.
7,187.
10,661.
6,434.
131,157.
133,412.
81,597.
50,044.
63,033.
79,902.
42,018.
28,308.
68,124.
53,509.
39,579.
21,736.
41,598.
49,453.
74,645.
66,739.
13,137.
11,500.
0.0
0.0
0.0
41,598.
24,816.
74,645.
66,739.
31,537.
22,164.
93,675.
109,473.
68,205.
68,205.
68,205.
75,025.
68,205.
68,205.
68,205.
75,025.
0.0
0.0
-36668
-46041
4,578.
14,138.
0.0
-46041
4,578.
14,138.
0.0
20,892.
20,310.

77,180.
77,180.
0.0
71,859.
-

81,217.
81,217.
0.0
73,952.
-

5,321.
14,946.
-

7,265.
15,724.
-

14,946.
-

-11845

15,724.
-

3,647.

16,166.
-24062
355.
348.
0.0
0.0
0.0
0.0
-

99,445.
209,508.
99,445.
209,508.
0.0
75,171.
161,321.
13,908.
74,559.
61,264.
86,762.
24,273.
48,187.
16,115.
25,568.
4,485.
5,656.
11,631.
19,912.
15,611.
22,891.
17,856. -12154
17,080.
11,336.
-9372
35,069.
1.
1,051.
0.0
3,410.
0.0
7,811.
19,580.

106,205.
73,135.
71,617.
0.0
0.0
13,137.
-12200
-24410
-9373
16,175.
63,033.
93,039.
.09
4.73
9.47
.39
.15
93.11

2011

.07
19.9
9.99
.4
.13
91.05

.08
17.96
9.59
.49
.14
75.59

195,248.
195,248.
146,532.
61,437.
85,095.
48,716.
23,628.
5,284.
18,344.
19,214.
3,474.
9,559.
22,196.
2,040.
17,326.

168,320.
0.0
30,608.
42,018.

176,212.
0.0
20,156.
28,308.

.16
-5.8
6.2
.84
.33
77.

.19
1.78
4.65
.86
.37
75.05

4.42
-6.14
-27.85
-11.85
-

5.48
-11.97
-70.79
-26.83
-

83.71
-

73.97

-15.35
0.0
-2.5
7.48

8.25
-4.58
-34.91
-12.95

-29.63
0.0
-3.58
4.62

66.28
.45
-9.42
.04
-1.37
3.25

1.67
15.42
60.55
29.23
9.98
64.31
4.09
16.74
.13
4.99
13.73

1.07
9.32
21.85
12.88
70.21
3.32
11.37
.15
2.69
14.59

Berger Paints Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
560,800.
665,862.
560,800.
26,470.
0.0

1,194,276.
144,483.
454,436.
479,390.
17,947.
98,020.
1,207,119.
598,647.
608,472.
0.0

0.0
0.0
547,957.
57,813.
57,813.
0.0
490,144.

2,999,718.
2,933,593.
66,125.
2,240,113.

759,605.
586,546.
586,546.
56,629.
156,342.
52,800.
40,469.
11,563.

547,957.
0.0
63,073.
598,647.
.53
1.89
15.98
1.71
.99
74.68

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.2
9.97
30.
30.
2.56
6.6
5.21
0.0
17.91
94.78
251

Financial Statement Analysis of Non Financial Sector

2007
625,723.
752,384.
625,723.
29,693.
0.0
1,474,346.
143,167.
570,944.
599,782.
13,849.
146,604.
1,541,339.
783,194.
758,145.
0.0
0.0
0.0
558,730.
69,376.
69,376.
0.0
489,354.
-

(Thousand Rupees)
2008
2009
2010
2011
666,797.
1,211,420.
889,907.
927,109.
0.0
698,857.
1,143,094.
798,013.
846,042.
614,447.
1,055,344.
724,211.
705,825.
38,718.
50,183.
63,951.
71,164.
52,350.
40,750.
4,179.
111,147.
165,696.
221,284.
2,249,445.
2,047,777.
2,133,934.
2,264,801.
192,281.
179,159.
289,244.
265,672.
873,297.
1,011,893.
966,347.
1,104,021.
569,402.
585,602.
620,934.
668,489.
13,849.
0.0
600,616.
271,123.
257,409.
226,619.
2,349,519.
2,467,755.
2,321,981.
2,331,716.
1,316,511.
1,514,263.
1,253,553.
974,979.
1,033,008.
953,492.
1,068,428.
1,356,737.
116,666.
50,000.
4,023.
233,732.
50,000.
0.0
0.0
0.0
0.0
116,666.
0.0
4,023.
13,732.
450,057.
741,442.
697,837.
626,462.
81,864.
81,864.
181,864.
181,864.
81,864.
81,864.
181,864.
181,864.
0.0
0.0
368,193.
132,928.
305,630.
246,601.
70,494.
72,278.
71,728.
62,434.
233,352.
174,873.
526,650.
210,343.
197,997.

3,620,512.
3,535,963.
84,549.
2,839,214.
-

138,612.
-231379
20,231.
0.0
0.0
-

3,624,268.
3,388,646.
3,590,813.
3,529,810.
3,261,554.
3,442,249.
94,458.
127,092.
148,564.
2,765,702.
2,588,758.
2,840,510.
2,626,526.
2,278,400.
2,558,470.
139,176.
310,358.
282,040.
858,566.
799,888.
750,303.
824,144.
793,748.
677,630.
606,045.
613,993.
530,048.
218,099.
179,755.
147,582.
228,965.
222,183.
221,378.
254,009.
252,413.
217,759.
248,138.
240,269.
210,708.
-73842
38,036. -122369
5,430.
19,375.
36,855.
0.0
0.0
-18518
49,645.
31,108.

558,730.
566,723.
0.0
0.0
74,584. -251610
783,194.
1,316,511.

791,442.
701,860.
860,194.
50,000.
0.0
220,000.
-110697
32,606. -141744
1,564,263.
1,253,553.
1,194,979.

3,988,363.
3,901,646.
86,717.
3,345,206.
-

781,298.
608,412.
-

643,157.
762,136.
-

608,412.
-

762,136.
-

90,248.
120,463.
28,535.
17,344.
0.0
-

2011

.49
2.49
16.57
1.72
.96
78.42

.33
3.48
14.28
1.37
.96
83.87

.31
7.01
16.16
1.11
.83
76.31

.39
7.45
18.32
1.12
.92
76.4

.4
6.06
18.62
1.12
.97
79.1

220,000.

2.76
6.25
21.77
21.77
5.3 6.34
3.33
0.0
13.25
80.54

5.48
-9.23
-45.87
-41.12

3.4
1.23
6.38
5.6

3.33
-3.9
-17.
-16.39

3.58
1.15
1.05
-.01
3.98
90.57

3.51
.49
-3.61
.02
-7.79
38.37

4.57
-5.8
0.0
-30.74
54.98

4.1
-2.38
-11.15
-9.45
3.25
.65
-2.06
.01
-6.09
34.45

Biafo Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
281,216.
310,560.
281,216.
25,020.
0.0

102,796.
7,733.
30,869.
0.0
0.0
64,194.
69,601.
14,675.
54,926.
19,022.

0.0
19,022.
295,389.
200,000.
200,000.
0.0
95,389.

400,142.
400,142.
0.0
302,294.

97,848.
22,118.
22,118.
9,104.
66,921.
0.0
0.0
0.0

314,411.
0.0
66,921.
14,675.
.11
2.28
0.0
1.04
1.48
75.55

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.3
17.53
25.72
21.81
12.96
16.72
0.0
3.35
14.77
252

Financial Statement Analysis of Non Financial Sector

2007
301,552.
355,482.
301,552.
25,536.
0.0
163,105.
28,695.
44,061.
57,451.
0.0
32,898.
89,722.
15,002.
74,720.
6,251.
0.0
6,251.
368,684.
200,000.
200,000.
0.0
168,684.
-

(Thousand Rupees)
2008
2009
2010
2011
282,359.
276,279.
273,643.
268,014.
0.0
406.
1,360.
357,428.
370,481.
273,100.
265,807.
282,359.
275,756.
161,252.
152,062.
21,138.
19,982.
18,459.
17,429.
0.0
0.0 0.0 523.
111,985.
114,592.
204,947.
247,064.
307,967.
407,922.
35,920.
70,014.
51,713.
33,668.
59,807.
70,147.
106,413.
113,374.
64,736.
61,008.
35,713.
101,795.
0.0
0.0 44,484.
45,895.
114,128.
159,085.
90,203.
48,586.
72,116.
140,062.
3,532.
2,837. 42,666.
86,671.
45,749.
72,116.
97,396.
2,810.
36,002.
36,422.
34,449.
0.0 0.0 0.0
0.0 795. 2,810.
35,207.
36,422.
34,449.
394,293.
438,755.
473,072.
501,425.
200,000.
200,000.
200,000.
200,000.
200,000.
200,000.
200,000.
200,000.
0.0
0.0 194,293.
180,261.
206,054.
237,515.
0.0 180,261.
206,054.
237,515.
58,494.
67,018.
63,910.

529,969.
529,969.
0.0
389,043.
-

560,821.
560,821.
0.0
420,544.
-

140,926.
33,028.
-

140,277.
31,250.
-

33,028.
-

31,250.
-

3,884.

8,418.
-

104,994.
0.0
50,000.
0.0
-

2011

105,844.
5,688.
20,000.
0.0
-

581,982.
370,708.
211,274.
396,009.
320,133.
75,876.
185,973.
40,533.
5,773.
34,760.
38,927.
3,735.
2,504.
148,776.
36,253.
80,000.
0.0 120,058.

588,495.
392,634.
195,861.
396,688.
313,541.
83,147.
191,807.
47,910.
7,412.
40,498.
45,794.
2,276.
742.
148,535.
37,337.
90,000.

870,365.
587,470.
282,895.
581,674.
445,250.
136,424.
288,691.
59,149.
8,097.
51,052.
60,238.
3,247.
1,771.
236,600.
61,424.
155,000.

137,392.

129,262.

374,935.
0.0
54,994.
15,002.

397,103.
0.0
80,156.
3,532.

474,757.
0.0
32,523.
2,837.

509,494.
0.0
21,198.
0.0

535,874.
0.0
20,176.
42,666.

.96
.73
10.84
1.14
1.82
73.41

1.12
1.5
11.54
1.15
2.27
74.99

2.7
.64
10.48
1.11
5.09
68.04

1.21
.39
6.07
1.01
4.27
67.41

.97
.37
11.7
1.29
2.91
66.83

.26
24.74
31.62
30.46
2.1
12.03

.24
22.24
27.75
27.42
5.01
9.38
-

19.81
0.0
5.25
18.43

18.87
0.0
5.01
19.71

.19
29.44
35.72
34.13
1.41
8.3
60.42
25.56
1.42
5.63
21.94

.23
26.89
32.58
30.18
1.24
5.53
201.18
25.24
1.27
5.56
23.65

.35
37.63
48.56
45.27
1.13
7.68
134.6
27.18
.74
8.76
25.07

Buxly Paints Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
21,091.
27,481.
21,091.
2,077.
0.0

141,781.
20,268.
76,398.
290.
0.0
44,825.
130,137.
12,023.
118,114.
692.

0.0
692.
32,043.
14,400.
14,400.
0.0
17,643.

376,156.
376,156.
0.0
292,791.

83,365.
96,443.
96,443.
1,637.
-12999
1,531.
0.0
0.0

32,735.
0.0
-14530
12,023.
.16
.44
.08
2.31
1.09
77.84

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.08
-8.22
-33.55
-33.15
4.92
-3.46
0.0
-10.09
22.25
253

Financial Statement Analysis of Non Financial Sector

2007

2008
19,077.

16,496.
-

27,304.
19,077.
2,705.
0.0
-

27,470.
16,496.
2,221.
0.0
-

116,146.
20,247.
27,201.
59,030.
0.0
9,668.
110,292.
9,225.
101,067.
767.
-

95,847.
14,737.
19,246.
46,806.
0.0
15,058.
82,238.
30,152.
52,086.
429.
-

0.0

0.0
-

767.
24,164.
14,400.
14,400.
0.0
9,764.
-

429.
29,676.
14,400.
14,400.
0.0
15,276. -47
-

137,661.
137,661.
0.0
104,462.
-

22,581.
2,571.

2,834.
-

4,098.
576.
0.0
0.0
-

0.0

25,851.
22,581.

29,181.
-

0.0

24,931.
0.0
3,522.
9,225.
.72
1.87
42.88
1.02
1.05
75.88

2,944.
0.0
5,533.
2,644.
2,158.
0.0
0.0
300.
83,918.
4,572.
15,973.
49,392.
0.0
13,981.
72,317.
32,963.
39,354.
192.
192.
0.0
0.0
0.0
0.0
14,353.
14,400.
14,400.
0.0

-47

164,089.
164,089.
0.0
138,238.

33,199.
29,181.
-

2009

(Thousand Rupees)
2010
2011
2,826.
2,707.
4,606.
4,265.
2,080.
1,879.
230.
93.
746.
828.
83,825.
75,397.
5,537.
3,970.
14,254.
18,988.
40,545.
29,859.
23,489.
22,580.
75,307.
73,462.
43,780.
2,822.
31,527.
70,640.
0.0
0.0
0.0
0.0
11,344.
4,642.
14,400.
14,400.
14,400.
14,400.
-3056
-9758
-3056
-9758
-

96,786.
96,786.
0.0
67,712.
62,009.
5,703.
29,074.
34,742.
10,417.
24,325.
13,103.
7,152.
6,612.

6,679. -6856
0.0
1,440.
0.0
-12234

2011

96,036.
96,036.
79,591.
75,716.
3,875.
16,445.
32,164.
11,171.
20,993.
9,550.
6,045.
5,641.

0.0
0.0
0.0

68,255.
63,912.
4,343.
12,783.
17,819.
9,466.
8,353.
9,232.
1,946.
1,767.
-5892

910.

810.
-

-10309

.75
7.39
51.03
1.11
1.16
69.96

39,240.

30,105.
14,545.
11,344.
4,642.
0.0
192.
0.0
0.0
-3009
-6702
5,239. -6856
30,152.
33,155.
43,780.
2,822.
.75
1.73
28.52
1.46
1.17
84.25

81,038.
81,038.
-

-2099

.61
6.29
42.22
1.11
1.11
82.88

.46
2.4
36.85
1.04
1.03
84.23

4.6
2.75
14.58
14.21
-

2.79
5.4
24.81
24.27
4.64 8.53

5.06

2.98
0.0
2.45
16.78

4.07
0.0
4.64
20.61

5.05
-6.88
-31.14
-30.71

6.64
-2.42
-16.34
-16.22

6.06
-.04
-7.08
-.17
-4.76
9.97

6.74
.63
-2.19
-.14
-2.09
7.88

15.83
-7.15
-73.71
-73.71
-

4.27
-2.33
-7.27
.53
-4.65
3.22

Clariant Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
600,980.
1,577,875.
600,980.
86,790.
0.0

2,996,237.
244,214.
1,170,443.
1,231,429.
0.0
350,151.
1,574,491.
763,457.
811,034.
700,000.

0.0
700,000.
1,322,726.
218,355.
218,355.
0.0
1,104,371.

5,582,103.
5,542,734.
39,369.
4,595,458.

986,645.
201,537.
201,537.
186,071.
652,872.
248,210.
272,944.
0.0

2,022,726.
0.0
131,718.
763,457.
.94
3.33
22.06
1.55
1.9
82.32

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.72
18.59
54.2
36.18
1.48
4.77
11.7
0.0
18.53
60.58
254

Financial Statement Analysis of Non Financial Sector

2007
851,456.
1,905,560.
851,456.
81,876.
0.0
3,404,783.
209,729.
1,307,084.
1,457,059.
0.0
430,911.
2,241,608.
1,095,025.
1,146,583.
500,000.
0.0
500,000.
1,514,631.
218,355.
218,355.
0.0
1,296,276.
-

(Thousand Rupees)
2008
2009
2010
2011
989,326.
997,116.
1,026,471.
1,192,979.
45,890.
117,730.
225,553.
2,139,689.
2,144,852.
2,180,595.
2,356,328.
989,326.
920,298.
883,612.
937,607.
103,583.
134,773.
141,938.
155,520.
0.0
0.0 0.0 30,928.
25,129.
29,819.
3,737,164.
3,976,465.
4,335,575.
4,219,914.
259,117.
379,796.
402,830.
486,828.
1,509,283.
1,359,496.
1,606,557.
1,374,589.
1,604,921.
1,778,557.
1,451,338.
1,393,752.
0.0
0.0 363,843.
458,616.
874,850.
964,745.
2,369,165.
2,397,151.
2,291,177.
1,991,571.
1,560,823.
1,143,458.
490,104.
515,982.
808,342.
1,253,693.
1,801,073.
1,475,589.
433,333.
339,544.
412,462.
353,135.
266,666.
333,333.
266,666.
0.0 0.0
0.0 0.0 433,333.
72,878.
79,129.
86,469.
1,923,992.
2,236,886.
2,658,407.
3,068,187.
272,943.
272,943.
272,943.
341,179.
272,943.
272,943.
272,943.
341,179.
0.0
0.0 1,651,049.
1,963,943.
2,385,464.
2,727,008.
0.0 1,963,943.
2,385,464.
2,727,008.
0.0 -

6,335,091.
6,259,192.
75,899.
5,000,073.
-

7,723,125.
7,423,629.
299,496.
5,921,260.
-

1,335,018.
505,356.
-

1,801,865.
612,172.
-

505,356.
-

612,172.
-

201,534.

494,340.
-

664,736.
195,577.
218,355.
54,589.
-

2011

739,776.
197,778.
272,943.
0.0
-

7,697,030.
7,292,932.
404,098.
5,895,796.
4,361,262.
1,534,534.
1,801,234.
713,562.
461,455.
252,107.
600,660.
302,944.
229,412.
831,031.
256,010.
341,179.
0.0
1,087,306.

8,383,872.
7,835,600.
548,272.
6,475,658.
4,965,679.
1,509,979.
1,908,214.
778,343.
525,294.
253,049.
600,315.
196,987.
180,399.
983,529.
244,578.
368,473.
68,236.
791,485.

8,371,140.
7,716,628.
654,512.
6,301,740.
4,690,405.
1,611,335.
2,069,400.
838,230.
575,302.
262,928.
631,679.
245,163.
181,986.
1,040,888.
285,295.
614,122.

1,075,076.

2,014,631.
0.0
250,804.
1,095,025.

2,357,325.
0.0
269,055.
1,560,823.

2,576,430.
266,666.
233,842.
1,410,124.

3,070,869.
333,333.
370,478.
823,437.

3,421,322.
266,666.
141,471.
782,648.

.74
3.18
23.
1.49
1.52
78.93

.79
6.4
20.78
1.63
1.58
76.67

.9
3.94
23.11
1.55
1.66
76.6

.81
2.35
17.31
1.56
1.89
77.24

.94
2.93
16.65
1.55
2.12
75.28

1.81
16.93
46.86
32.93
2.15
4.85
-

1.46
16.47
43.03
33.84
1.99
5.12
-

10.49
0.0
21.49
69.37

9.58
0.0
19.86
70.49

1.22
17.13
39.94
33.69
1.69
5.66
4.62
10.8
.4
21.07
81.95

1.02
19.03
40.18
34.83
2.01
5.22
6.45
11.73
.29
27.07
97.4

.76
19.32
36.35
32.07
1.23
6.09
6.72
12.43
.46
22.15
89.93

Colgate-Palmolive (Pakistan) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
762,481.
1,133,357.
739,281.
77,136.
23,200.

1,349,010.
390,638.
614,349.
105,782.
161,367.
76,874.
803,325.
54,637.
748,688.
9,210.

0.0
9,210.
1,298,956.
122,303.
122,303.
0.0
1,176,653.

6,286,355.
6,286,355.
0.0
4,671,145.

1,615,210.
867,270.
867,270.
13,309.
769,333.
263,079.
195,685.
30,576.

1,308,166.
0.0
310,569.
54,637.
.82
.21
1.68
2.98
1.68
74.31

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.63
42.16
68.14
66.29
2.59
10.23
12.24
0.0
41.39
106.21
255

Financial Statement Analysis of Non Financial Sector

2007
882,237.
1,343,998.
864,837.
87,145.
17,400.
1,768,288.
420,696.
777,851.
144,263.
0.0
425,478.
937,790.
191,481.
746,309.
5,625.
0.0
5,625.
1,707,110.
152,879.
152,879.
0.0
1,554,231.
-

(Thousand Rupees)
2008
2009
2010
2011
977,955.
1,235,265.
1,928,870.
2,722,268.
143,778.
555,047.
592,640.
1,523,687.
1,668,694.
2,080,805.
3,016,502.
966,355.
1,024,478.
1,318,071.
2,088,144.
104,666.
132,713.
127,345.
178,645.
11,600.
42,074.
32,155.
18,775.
0.0 24,935.
23,597.
22,709.
2,160,369.
2,705,155.
2,877,700.
3,687,865.
592,937.
1,024,666.
1,088,021.
618,843.
1,006,364.
1,128,432.
1,322,237.
2,370,938.
177,983.
339,490.
316,779.
321,073.
180,201.
0.0 202,884.
212,567.
150,663.
377,011.
993,655.
1,072,926.
1,011,144.
1,668,040.
47,445.
2,500. 946,210.
1,070,426.
1,011,144.
1,668,040.
3,125.
167,283.
218,280.
368,418.
625. 0.0 0.0
0.0 0.0 3,125.
166,658.
218,280.
368,418.
2,141,544.
2,700,211.
3,577,146.
4,373,675.
191,098.
238,873.
274,704.
315,909.
191,098.
238,873.
274,704.
315,909.
0.0
0.0 1,950,446.
2,461,338.
3,302,442.
4,057,766.
13,456.
13,456.
13,456.
2,447,882.
3,288,986.
4,044,310.
0.0 -

7,445,820.
7,445,820.
0.0
5,566,142.
-

8,976,538.
8,976,538.
0.0
6,879,738.
-

1,879,678.
1,029,683.
-

2,096,800.
1,129,825.
-

1,029,683.
-

1,129,825.
-

14,801.

19,875.
-

896,605.
283,000.
244,606.
38,220.
-

2011

1,021,009.
300,600.
191,098.
47,775.
-

11,264,677. 11,529,310.
11,264,677. 11,529,310.
0.0 8,482,756.
7,699,401.
6,637,554.
5,589,125.
1,845,202.
2,110,276.
2,781,921.
3,829,909.
1,640,246.
2,144,325.
1,425,714.
1,846,098.
214,532.
298,227.
489,562.
547,525.
48,867.
11,036.
41,794.
1,590.
1,146,105.
1,764,192.
388,313.
560,800.
274,704.
370,850.
35,831.
41,206.
819,289.
1,106,491.

14,150,420.
14,150,420.
9,989,856.
7,651,388.
2,338,468.
4,160,564.
2,437,023.
2,115,193.
321,830.
637,883.
11,933.
629.
1,784,181.
472,892.
442,273.
47,386.
830,734.

1,712,735.
0.0
368,999.
191,481.

2,144,669.
0.0
529,311.
47,445.

2,867,494.
625.
483,088.
3,125.

3,795,426.
0.0
832,542.
0.0

4,742,093.
0.0
869,016.
0.0

.6
.2
1.94
2.81
1.89
74.76

.96
.22
1.98
2.86
2.17
76.64

1.27
.43
3.01
2.86
2.52
75.3

1.39
.1
2.75
2.4
2.85
66.78

.56
.08
2.27
2.21
2.21
70.6

.55
37.66
59.65
59.36
2.51
9.57
-

.47
35.28
53.06
52.94
3.77
8.92
-

12.04
0.0
40.14
111.66

11.37
0.0
37.7
112.07

.46
32.38
47.34
45.73
2.76
9.98
28.42
10.17
.66
31.72
113.04

.34
40.34
56.21
52.96
3.24
8.72
1,110.55
15.3
.9
43.81
130.22

.47
31.81
44.88
41.8
2.96
5.97
2,837.54
12.61
.41
41.51
138.45

Data Agro Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
78,318.
165,174.
78,318.
8,743.
0.0

24,275.
1,325.
7,305.
6,027.
0.0
9,618.
52,530.
252.
52,278.
588.

0.0
588.
49,475.
40,000.
40,000.
0.0
9,475.

29,865.
29,865.
0.0
25,706.

4,159.
5,686.
5,686.
163.
-1542
147.
0.0
0.0

50,063.
0.0
-1689
252.
.14
.55
20.18
.29
.46
86.07

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.07
-1.84
-4.43
-4.34
4.09
-5.16
0.0
-.42
12.37
256

Financial Statement Analysis of Non Financial Sector

2007

2008
71,191.

64,281.
-

165,923.
71,191.
7,876.
0.0
-

71,329.
64,281.
7,048.
0.0
-

32,074.
2,752.
15,954.
6,654.
0.0
6,714.
12,791.
279.
12,512.
40,696.
-

39,358.
2,031.
9,667.
14,579.
0.0
13,081.
52,038.
0.0
52,038.
0.0
-

0.0

0.0
-

40,696.
49,778.
40,000.
40,000.
0.0
9,778.
-

0.0
51,601.
40,000.
40,000.
0.0
11,601.
-

29,221.
29,221.
0.0
22,466.
-

58,896.
58,896.
0.0
51,594.
-

6,755.
6,167.
-

7,302.
7,143.
-

6,167.
-

7,143.
-

162.
-

172.
-

688.
145.
0.0
0.0
-

2009

471.
289.
0.0
0.0
-

58,064.
0.0
166,154.
58,064.
6,310.
0.0
0.0
0.0
46,731.
6,885.
12,182.
17,356.
0.0
10,307.
4,044.
0.0
4,044.
50,357.
0.0
40,379.
0.0
1,874.
8,104.
50,394.
40,000.
40,000.
0.0
-14605
0.0
-14605
24,999.
51,466.
51,466.
0.0
43,702.
25,475.
18,227.
7,764.
7,717.
3,063.
4,654.
7,710.
322.
0.0
119.
0.0
0.0
0.0
5,264.

90,474.
0.0
543.
279.

51,601.
0.0
182.
0.0

100,751.
0.0
119.
0.0

.74
.55
22.77
.28
2.51
76.88

.32
.29
24.75
.57
.76
87.6

5.99
.63
33.72
.49
11.56
84.91

2011

(Thousand Rupees)
2010
2011
52,952.
49,988.
166,813.
169,538.
52,952.
49,988.
5,771.
5,689.
0.0
0.0
54,616.
59,534.
4,393.
3,041.
20,630.
24,256.
16,440.
16,530.
13,153.
15,707.
5,172.
6,922.
5,172.
6,922.
51,607.
51,723.
40,379.
40,379.
11,228.
11,344.
50,789.
50,877.
40,000.
40,000.
40,000.
40,000.
-11799
-9541
-11799
-9541
22,588.
20,418.
58,815.
58,815.

70,896.
70,896.

47,327.
14,625.
32,702.
11,488.
9,988.
3,986.
6,002.

59,706.
22,025.
37,681.
11,190.
12,011.
4,813.
7,198.

392.

624.

1,193. -824
294.

-1833

709.
114.

102,396.
102,600.
0.0
0.0
899. -1533
0.0
0.0
4.03
.67
27.95
.55
10.56
80.47

2.83
.88
23.32
.65
8.6
84.22

1.07
.67
1.39
.98
-

1.01
.46
.93
.66
-

1.83
-

6.09

2.35
0.0
.14
12.44

1.08
.11
.23
.16

1.15
-.76
-1.62
-.8

2.85

2.92

2.03
-.03
.22
12.7

-1.16
0.0
-.38
12.72

4.22

.8
0.0
.05
12.9

1.12
1.12
2.36
1.17

.23
.1
.03
12.6

Dawood Hercules Chemicals Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,347,374.
3,335,259.
1,347,374.
81,426.
0.0

14,815,317.
56,295.
237,295.
2,503.
13,447,765.
1,071,459.
6,889,547.
5,924,515.
965,032.
0.0

0.0
0.0
9,273,144.
828,662.
828,662.
0.0
8,444,482.

4,333,921.
4,333,921.
0.0
3,022,417.

1,311,504.
306,637.
306,637.
555,469.
2,589,584.
104,000.
0.0
0.0

9,273,144.
0.0
2,485,584.
5,924,515.
1.96
12.82
.06
.27
2.15
69.74

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.74
17.89
27.72
27.72
18.26
59.75
0.0
30.
111.91
257

Financial Statement Analysis of Non Financial Sector

2007
1,374,029.
3,462,669.
1,374,029.
121,310.
0.0
27,848,674.
1,097,824.
867,511.
4,742.
24,492,479.
1,386,118.
3,833,371.
2,281,428.
1,551,943.
6,500,000.
0.0
6,500,000.
18,889,332.
828,662.
828,662.
0.0
18,060,670.
-

(Thousand Rupees)
2008
2009
2010
2011
1,396,334. 23,620,706. 24,664,680. 26,820,470.
734,409.
366,514.
23,619.
2,156,195.
3,709,887.
4,420,230.
4,823,924.
1,396,334.
1,340,588.
1,871,708.
2,093,015.
140,572.
149,784.
207,508.
193,847.
0.0
0.0 21,543,286. 22,424,778. 24,701,636.
2,423.
1,680.
2,200.
24,233,806.
5,986,702.
5,690,322.
5,145,401.
933,938.
278,145.
1,250,263.
730,748.
89,568.
83,285.
216,117.
151,267.
8,821.
10,028.
2,131.
2,686.
21,439,053.
3,399,314.
2,439,931.
2,951,088.
1,762,426.
2,215,930.
1,781,880.
1,309,612.
8,247,484.
2,983,100.
2,319,925.
1,115,639.
70,139.
1,196,603.
45,725.
8,177,345.
1,786,497.
2,274,200.
1,115,639.
0.0
6,741,595.
5,675,498.
5,722,176.
6,302,500.
5,042,000.
4,800,000.
0.0 0.0
0.0 44,595.
51,590.
53,059.
0.0
394,500.
581,908.
869,117.
17,382,656. 19,882,713. 22,359,579. 25,128,056.
1,093,834.
1,093,834.
1,203,217.
4,812,871.
1,093,834.
1,093,834.
1,203,217.
4,812,871.
0.0
0.0 16,288,822. 18,788,879. 21,156,362. 20,315,185.
3,985.
135,765.
18,784,894. 21,332,823. 20,495,916.
0.0 -

5,543,477.
5,543,477.
0.0
3,681,026.
-

7,665,206.
7,665,206.
0.0
4,548,966.
-

1,862,451.
365,251.
-

3,116,240.
573,781.
-

365,251.
-

573,781.
-

755,841.

901,451.
-

11,126,066.
529,000.
248,599.
0.0
-

2,050,288.
693,000.
273,458.
109,383.
-

25,389,332.
0.0
10,348,467.
2,281,428.
6.68
13.63
.09
.19
7.26
66.4

2011

11,040,361.
8,715,711.
11,040,361.
8,715,711.
0.0 7,080,457.
5,214,376.
1,721,209.
1,581,249.
5,359,248.
3,633,127.
3,959,904.
3,501,335.
4,670,906.
817,980.
392,030.
267,724.
4,278,876.
550,256.
888,469.
880,894.
984,747.
909,596.
984,486.
909,596.
-213477
4,191,192.
858,000.
686,000.
437,534.
601,609.
109,383.
3,609,651.
1,260,397.
1,463,390.

17,382,656. 26,624,308.
0.0
6,302,500.
1,083,830. -1509011
70,139.
7,499,103.
2.71
11.76
.12
.3
2.94
59.35

1.24
8.92
.09
.37
2.01
64.13

6,309,624.
6,309,624.
4,043,873.
679,015.
3,364,858.
2,265,751.
1,154,412.
67,291.
1,087,121.
807,862.
810,829.
810,812.
3,631,667.
466,000.
481,287.
701,270.

28,035,077.
5,042,000.
2,903,584.
5,087,725.

30,850,232.
4,800,000.
2,684,380.
4,800,000.

1.59
10.44
.02
.29
2.45
59.83

3.3
12.85
.04
.2
4.61
64.09

.55
49.03
79.01
64.2
42.63
6.39

.47
7.48
11.31
9.59
4.96
85.58
-

200.71
0.0
127.88
227.95

26.75
0.0
12.41
158.91

.49
-.77
-1.15
-.97
-2.45
132.56
.78
-1.93
.13
-9.8
181.77

.36
13.98
19.84
15.34
5.83
40.33
5.61
48.09
.18
29.13
185.83

.27
11.65
15.3
12.33
6.58
41.71
5.48
57.56
.1
6.58
52.21

Descon Chemicals (Pvt) Ltd. (Nimir Resins Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
93,842.
229,895.
92,366.
7,969.
1,476.

159,835.
1,197.
46,981.
94,290.
0.0
17,367.
151,875.
77,000.
74,875.
78,115.

0.0
78,115.
23,687.
315,670.
315,670.
0.0
-291983

580,125.
580,125.
0.0
548,347.

31,778.
49,342.
49,342.
19,233.
-34816
2,539.
0.0
0.0

101,802.
0.0
-37355
77,000.
.63
3.32
16.25
2.29
1.05
94.52

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

9.71
-12.75
-81.47
-28.81
12.35
-6.
0.0
-1.18
.75
258

2011

Financial Statement Analysis of Non Financial Sector

2007
126,933.
261,634.
126,933.
7,418.
0.0
268,800.
3,052.
106,149.
141,070.
0.0
18,529.
252,970.
156,722.
96,248.
70,305.
0.0
70,305.
72,458.
315,670.
315,670.
0.0
-243212
-

(Thousand Rupees)
2008
2009
2010
122,497.
851,002.
726,932.
61,831.
2,034.
263,708.
828,563.
934,943.
122,497.
646,433.
623,197.
7,011.
42,922.
41,978.
0.0
0.0
41,587.
88,660.
58,205.
54,078.
1,909.
404,072.
1,025,911.
1,272,239.
1,488.
28,044.
41,210.
155,275.
386,825.
532,048.
203,690.
478,767.
486,175.
0.0
0.0
43,619.
132,275.
212,806.
283,825.
1,071,483.
1,336,317.
156,240.
845,252.
949,647.
127,585.
226,231.
386,670.
62,495.
144,225.
157,942.
128,185.
0.0
0.0
0.0
16,040.
16,768.
62,495.
0.0
141,174.
180,249.
661,205.
504,912.
315,670.
315,670.
997,789.
315,670.
315,670.
997,789.
0.0
0.0
-135421
306,640. -531642
0.0
306,640. -531642
38,894.
38,765.

752,041.
752,041.
0.0
699,503.
-

1,221,430.
1,221,430.
0.0
1,086,614.
-

52,538.
13,881.
-

134,816.
30,037.
-

13,881.
-

30,037.
-

27,403.

27,751.
-

11,254.
3,291.
0.0
0.0
-

91,784.
5,319.
157,835.
0.0
-

.72
2.27
16.68
2.32
1.42
88.96

166,195.
1,195,380.
803,513.
391,867.
89,906.
33,500.

21,093.
35,313.
485,714.
997,789.
997,789.
-550718
-550718
38,643.

2,769,953.
2,383,950.
2,736,971.
2,377,398.
32,982.
6,552.
2,551,882.
2,072,600.
2,344,347.
1,890,013.
207,535.
182,587.
218,071.
311,350.
195,905.
190,416.
80,928.
73,689.
114,977.
116,727.
141,365.
128,631.
186,705.
159,606.
182,994.
157,075.
-164924
-53183
95,708.
11,886.
0.0
0.0
135,819. -160914

142,763.
242,744.
805,430.
662,854.
0.0
0.0
128,185.
-260632
-65069
7,963. -71370
156,722.
156,240.
973,437.
949,647.
.57
3.64
18.76
1.9
1.06
93.01

2011
702,040.
163.
935,545.
580,980.
49,441.
36,966.
83,173.
758.
1,068,960.
47,128.
416,375.
439,262.

.47
6.74
17.28
1.48
.96
92.13

.39
6.7
20.39
1.19
.95
86.94

2,601,734.
2,598,910.
2,824.
2,284,047.
2,089,885.
194,162.
317,687.
202,202.
83,020.
119,182.
110,703.
159,160.
156,939.
1,222.
25,989.

188,337.

0.0

575,620.
33,500.
-24767
837,013.
.41
6.12
16.88
1.47
.89
87.79

4.46
3.47
23.41
9.2
-

1.92
19.9
72.64
47.62
.55 7.87

7.08

1.5
0.0
.25
2.3

7.51
0.0
1.37
2.86

1.84
-13.72
-39.2
-31.47

2.96
-2.74
-9.12
-7.24

7.16
.1
-5.95
.11
-8.26
20.95

4.48
.66
-2.23
-.11
-.33
2.53

2.65
.06
.25
.2
6.25
1.01
.05
.15
-.12
2.43

Descon Oxychem Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

259

2011

Financial Statement Analysis of Non Financial Sector

2007
-

2008
1,501,195.
1,429,935.
1,428,819.
966.
72,376.
217,701.
165,114.
0.0
0.0
0.0
52,587.
82,468.
0.0
82,468.
955,686.
0.0
955,686.
680,742.
695,000.
695,000.
0.0
-14258
0.0
0.0
0.0
0.0
0.0
10,216.
10,216.
19.
-10235
0.0
0.0
0.0
-

1,636,428.
0.0
-10235
0.0

2.

(Thousand Rupees)
2009
2010
2011
2,736,546.
2,717,779.
2,646,319.
51,186.
43,403.
2,615,780.
2,649,294.
2,694,830.
2,561,241.
2,444,077.
233,710.
53,433.
158,063.
159,640.
83,329.
65,473.
47,616.
0.0
40,789.
164,826.
2,364,993.
333,259.
399,869.
619,271.
3,289.
60,168.
37,667.
56,069.
50,995.
128,052.
1,228.
26,776.
93,475.
0.0
272,673.
261,930.
360,077.
755,832.
732,269.
473,652.
259,320.
286,473.
114,188.
496,512.
445,796.
359,464.
1,469,818.
1,830,197.
2,055,108.
1,469,818.
1,280,221.
1,476,764.
0.0
408,785.
408,785.
0.0
0.0
0.0
141,191.
169,559.
844,155.
555,182.
736,830.
1,020,000.
1,020,000.
1,020,000.
1,020,000.
1,020,000.
1,020,000.
0.0
-175845
-464818
-283170
0.0
437.
2,115.
-175845
-465255
-285285
0.0
191,335.
709,672.
1,432,576.
168,506.
668,455.
1,027,749.
22,828.
41,217.
404,827.
228,165.
683,402.
892,139.
110,105.
254,050.
399,605.
118,059.
429,352.
492,534.
-36830
26,270.
540,437.
44,670.
81,347.
114,806.
10,474.
42,583.
68,571.
34,196.
38,764.
46,235.
29,294.
69,682.
419,205.
96,220.
288,065.
351,895.
94,935.
283,559.
341,543.
-177719
-336103
84,532.
228.
10,681.
14,604.
0.0
0.0
134,889. -150548
153,410.
2,313,973.
2,385,379.
1,469,818.
1,280,221.
-177947
-346784
1,729,138.
1,566,694.

0.0
2.64
-

.01
50.29
.64
.06
.44
119.25

.12
40.59
3.77
.23
.55
96.3

2,791,938.
1,476,764.
69,928.
1,590,952.
.28
24.56
6.52
.44
1.31
62.28

1.53
-.6
-1.5
-.63
0.0
-.15
9.79

2.64
-7.42
-23.31
-9.

4.62
-10.86
-48.04
-14.3

3.41
-.87
-92.88
.06
-1.74
8.28

13.92
-.19
-47.36
-.06
-3.4
5.44

3.43
2.65
13.09
3.27
-

11.19
1.25
5.9
.06
.69
7.22

Dewan Salman Fibre Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
12,983,938.
22,813,436.
13,007,054.
935,500.
-23116

11,760,038.
294,170.
6,843,976.
1,938,021.
252,161.
2,431,710.
13,448,471.
5,859,541.
7,588,930.
2,690,560.

0.0
2,690,560.
8,604,945.
3,663,211.
3,663,211.
0.0
4,941,734.

16,732,600.
15,573,615.
1,158,985.
15,701,976.

1,030,624.
421,202.
421,202.
650,062.
-101207
83,614.
0.0
0.0

11,295,505.
0.0
-184821
5,859,541.
.18
3.89
11.58
.68
.87
93.84

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.88
-.45
-1.37
-1.01
2.44
-.6
0.0
-.5
23.49
260

Financial Statement Analysis of Non Financial Sector

2007
12,050,679.
22,669,002.
12,050,679.
1,237,493.
0.0
11,495,120.
155,342.
6,634,546.
2,407,652.
277,218.
2,020,362.
13,503,072.
5,119,099.
8,383,973.
2,246,068.
0.0
2,246,068.
7,796,659.
3,663,211.
3,663,211.
0.0
4,133,448.
-

2008
11,004,254.
23,007,124.
11,004,254.
1,130,462.
0.0
10,468,512.
87,352.
4,683,593.
2,675,370.
148,025.
2,874,172.
15,609,628.
7,464,653.
8,144,975.
2,967,192.
0.0
2,967,192.
2,895,946.
3,663,211.
3,663,211.
0.0
-767265
-

2009
10,344,488.
142,813.
22,938,931.
9,815,711.
1,048,272.
-5779
0.0
391,743.
5,874,677.
16,575.
1,457,460.
2,835,872.
0.0
1,564,770.
17,012,260.
9,057,176.
7,955,084.
2,542,779.
1,243,780.
0.0
0.0
123,738.
1,175,261.
-3335874
3,663,211.
3,663,211.
0.0
-9572222
0.0
-9572222
2,573,137.

15,021,483.
13,940,169.
1,081,314.
14,749,416.

10,762,126.
9,991,069.
771,057.
13,253,410.

4,169,615.
4,094,451.
75,164.
8,206,331.
4,418,818.
3,787,513.
-4036716
286,099.
65,963.
220,136.
721,007.
2,050,224.
1,446,431.
-6363619
752.
0.0
0.0
214,484.

272,067.
325,474.

325,474.

1,130,350.
-1153822
75,253.
0.0
0.0
-

-2491284
535,722.
535,722.
1,964,107.
-4988793
53,821.
0.0
0.0
-

2011

(Thousand Rupees)
2010
2011
9,923,815.
9,018,224.
142,813.
142,813.
23,671,795. 23,671,850.
9,608,745.
8,704,465.
939,830.
904,335.
141,173.
144,121.
31,084.
26,825.
5,396,277.
4,966,206.
11,431.
10,482.
811,589.
488,011.
2,878,916.
2,827,167.
1,694,341.
1,640,546.
17,703,739. 17,918,407.
9,887,876. 10,194,861.
7,815,863.
7,723,546.
1,950,657.
1,666,536.
531,930.
328,564.
1,418,727.
1,337,972.
-4334304
-5600513
3,663,211.
3,663,211.
3,663,211.
3,663,211.
-10882178
-11914652
-10882178
-11914652
2,884,663.
2,650,928.
137,498.
137,498.

136,534.
136,534.

1,409,779.
308,497.
1,101,282.
-1272281
92,809.
15,283.
77,526.
132,659.
282,203.
37,042.
-1647293
687.
-19957

1,140,019.
308,497.
831,522.
-1003485
98,218.
14,253.
83,965.
129,850.
295,875.
-1395015
-92922

-2383647
-3933977
10,042,727.
5,863,138. -793095
0.0
0.0
1,243,780.
531,930.
328,564.
-1229075
-5042614
-6364371
-1647980
-1395015
5,119,099.
7,464,653. 10,300,956. 10,419,806. 10,523,425.
.21
7.52
16.03
.64
.85
98.19

.19
18.25
24.86
.5
.67
123.15

.17
49.17
68.01
.26
.35
196.81

.16
205.24
2,093.79
.01
.3
1,025.31

.16
216.7
2,070.67
.01
.28
834.97

2.02
-4.78
-14.07
-10.81
-

6.41
-22.16
-93.31
-62.73
-

2.26
-

2.3

-7.68
0.0
-3.36
21.28

-5.86
-33.77
2,893.03
-251.03

-46.36
0.0
-13.77
7.91

-4.53
-10.45
42.95
103.71
-

2.86
-3.4
-152.62
.01
-17.37
-9.11

.17
-43.47 -1,198.05
0.0
-4.5
-11.83

-3.5
-9.52
28.08
44.16
.28
-1,021.73
0.0
-3.81
-15.29

Dynea Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
171,034.
394,319.
171,034.
17,256.
0.0

421,335.
8,932.
147,567.
229,641.
0.0
35,195.
297,508.
198,295.
99,213.
1,894.

0.0
1,894.
292,967.
94,362.
94,362.
0.0
198,605.

1,305,209.
1,305,209.
0.0
1,124,312.

180,897.
103,535.
103,535.
18,429.
60,195.
5,570.
0.0
0.0

294,861.
0.0
54,625.
198,295.
.8
1.41
17.59
2.2
1.42
86.14

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.02
10.66
21.78
21.71
8.84
4.61
0.0
5.79
31.05
261

Financial Statement Analysis of Non Financial Sector

2007
145,891.
400,063.
145,891.
31,367.
0.0
398,000.
9,374.
163,819.
206,882.
0.0
17,925.
245,963.
156,008.
89,955.
1,405.
0.0
1,405.
296,523.
94,362.
94,362.
0.0
202,161.
-

(Thousand Rupees)
2008
2009
2010
2011
132,307.
124,576.
169,480.
165,683.
0.0
61,460.
405,541.
417,112.
418,095.
499,394.
132,307.
123,265.
104,943.
163,918.
25,675.
23,557.
21,182.
23,756.
0.0
0.0 0.0 1,310.
3,077.
1,765.
519,984.
374,706.
481,596.
688,622.
17,693.
24,901.
67,683.
63,701.
233,112.
154,890.
202,093.
339,106.
207,221.
162,547.
177,308.
207,661.
0.0
0.0 61,958.
32,368.
34,512.
78,154.
311,062.
102,462.
220,822.
328,358.
162,487.
14,062.
66,323.
95,706.
148,575.
88,399.
154,499.
232,652.
4,862.
4,179.
1,210.
59,499.
2,756. 50,375.
0.0 0.0
0.0 0.0 4,862.
1,422.
1,210.
9,124.
336,367.
392,642.
429,044.
466,448.
94,362.
94,362.
94,362.
94,362.
94,362.
94,362.
94,362.
94,362.
0.0
0.0 242,005.
298,280.
334,682.
372,086.
0.0 298,280.
334,682.
372,086.
0.0 -

1,379,132.
1,379,132.
0.0
1,246,969.
-

1,507,129.
1,507,129.
0.0
1,319,138.
-

132,163.
90,544.
-

187,991.
112,511.
-

90,544.
-

112,511.
-

15,648.

11,075.
-

27,119.
0.0
0.0
0.0
-

2011

64,632.
27,049.
0.0
0.0
-

1,296,974.
1,355,658.
1,727,550.
1,296,974.
1,355,658.
1,727,550.
0.0 1,083,867.
1,146,390.
1,478,542.
988,864.
1,048,631.
1,411,262.
95,003.
97,759.
67,280.
213,107.
209,268.
249,008.
117,074.
124,083.
152,419.
74,225.
88,698.
113,628.
42,849.
35,385.
38,791.
118,982.
114,430.
138,557.
20,329.
8,126.
19,831.
18,595.
6,609.
18,576.
77,196.
77,392.
77,699.
27,799.
29,754.
18,139.
14,154.
14,154.
18,872.
0.0 156,505.
66,660. -56275

297,928.
0.0
27,119.
156,008.

341,229.
0.0
37,583.
162,487.

396,820.
2,756.
35,242.
16,818.

430,254.
0.0
33,484.
66,323.

525,947.
50,375.
40,688.
146,081.

.88
1.13
15.
2.54
1.62
90.42

.72
.73
13.75
2.31
1.67
87.53

1.83
1.57
12.53
2.6
3.66
83.57

1.11
.6
13.08
2.08
2.18
84.56

.83
1.15
12.02
2.02
2.1
85.59

.83
4.77
9.2
9.15
-

.94
10.81
20.42
20.22
-

8.42
-

6.47
-

1.97
0.0
2.87
31.42

4.29
0.0
1.99
17.82

.27
13.41
21.18
20.92
3.49
8.37
5.15
5.95
1.47
5.23
41.61

.52
13.46
18.84
18.71
3.37
6.71
12.71
5.71
.3
2.52
22.73

.83
10.32
17.35
16.25
3.16
5.09
5.18
4.5
-.15
3.16
24.72

Engro Corporation Ltd. (Engro Chemical Pakistan Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
6,575,665.
11,720,494.
6,557,603.
614,048.
18,062.

9,405,151.
1,805,240.
923,448.
623,349.
3,657,596.
2,395,518.
4,810,719.
2,389,782.
2,420,937.
1,800,000.

1,800,000.
9,370,097.
1,682,340.
1,682,340.
7,687,757.

19,072,233.
19,072,233.
14,834,974.

4,237,259.
1,768,906.
1,768,906.
362,551.
3,444,656.
834,368.
1,514,106.

11,170,097.
1,096,182.
2,389,782.
1.27
1.9
3.27
1.19
1.96
77.78

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.71
22.89
40.97
32.03
1.72
20.65
18.06
0.0
15.52
55.7
262

Financial Statement Analysis of Non Financial Sector

2007
13,945,550.
19,924,558.
13,811,683.
626,661.
133,867.
24,211,101.
1,617,524.
2,690,153.
1,408,885.
13,918,430.
4,576,109.
7,252,214.
1,300,000.
5,952,214.
15,422,520.
0.0 11,422,520.
4,000,000.
15,481,917.
1,934,692.
1,934,692.
0.0
0.0
13,547,225.
36,625,754.
36,625,754.
0.0
28,643,509.

0.0
-

2008
2009
33,675,770. 82,960,567.
63,233,217.
39,952,133. 13,400,008.
33,552,912.
6,156,969.
641,541.
686,456.
122,858.
122,704.
12,988,657.
459,020.
23,488,969. 10,748,871.
1,687,038.
3,955,342.
4,680,896.
422,607.
261,508.
2,514,425.
11,159,668.
450,857.
5,699,859.
3,405,640.
7,436,369.
6,395,469.
1,943,035.
1,005,853.
5,493,334.
5,389,616.
28,674,764. 60,425,731.
58,565,354.
0.0
12,879,902.
0.0
259,366.
15,794,862.
1,601,011.
21,053,606. 26,888,238.
2,128,161.
2,979,426.
2,128,161.
2,979,426.
0.0
0.0
18,925,445. 23,908,812.
10,228,600.
13,680,212.
0.0

23,317,198.
23,317,198.
0.0
1,720,635.
-

7,982,245.
4,065,253.
-

21,596,563.
2,237,371.
-

4,065,253.
-

2,237,371.
-

717,658.
3,952,829.
1,125,461.
1,354,284.
0.0

0.0
-

0.0

1,508,948.
20,604,574.
949,607.
1,276,897.
0.0
-

30,904,437.
11,422,520.
1,473,084.
12,722,520.

49,728,370.
12,879,902.
18,378,070.
14,822,937.

2.34
1.96
3.85
.96
3.34
78.21

1.76
6.47
1.12
.41
3.16
7.38

2011

(Thousand Rupees)
2010
2011
131,082,013. 138,058,731.
70,605,573.
4,898,018.
71,305,485. 148,518,600.
58,106,575. 129,611,671.
2,977,594.
5,959,530.
877,323.
737,803.
514,505.
1,716,692.
978,037.
1,094,547.
33,696,439. 44,945,443.
4,120,031.
4,417,885.
8,843,677. 11,603,851.
5,131,408.
6,214,643.
4,426,188.
8,332,154.
11,175,135. 14,376,910.
37,751,045. 52,930,738.
5,715,775.
4,284,404.
32,035,270. 48,646,334.
92,912,392. 88,183,647.
89,151,849. 82,560,415.
347,886.
19,144.
3,412,657.
5,604,088.
34,115,015. 41,889,789.
3,277,369.
3,932,843.
3,277,369.
3,932,843.
30,837,646. 37,956,946.
13,632,260. 14,542,260.
17,205,386. 23,414,686.
-

30,171,520. 79,975,765. 114,611,837.

30,171,520. 77,313,326. 110,970,902.
0.0
2,662,439.
3,640,935.
23,240,176. 59,702,130. 82,530,581.
0.0 32,253,583. 37,752,061.
23,240,176. 27,448,547. 44,778,520.
6,931,344. 20,273,635. 32,081,256.
2,369,286.
9,126,860. 12,106,243.
1,945,176.
6,078,320.
7,144,965.
424,110.
3,048,540.
4,961,278.
386,500.
4,136,483.
5,467,275.
1,320,579.
4,321,688. 12,314,593.
1,320,579.
4,100,290. 10,462,595.
5,214,946.
8,277,133. 11,459,152.
1,135,050.
1,333,929.
2,220,775.
1,787,656.
1,966,421.
2,359,706.
297,943.
655,474.
1,179,853.
6,088,724. -142446
16,491,624.
87,313,969. 127,027,407. 130,073,436.
58,565,354. 89,151,849. 82,560,415.
2,292,240.
4,976,783.
6,878,671.
59,571,207. 94,867,624. 86,844,819.
1.08
4.38
8.33
.32
1.68
77.03

.36
5.4
6.42
.49
.89
74.65

.36
10.74
5.42
.63
.85
72.01

1.46
14.6
31.81
18.79
2.09
13.61
-

1.72
43.23
112.79
51.11
15.39
4.98
-

10.79
0.0
14.61
80.02

88.37
0.0
92.36
98.93

2.49
6.91
21.76
7.61
2.28
71.39
4.95
17.28
.09
13.69
90.25

3.83
6.4
27.14
7.72
3.53
9.04
3.02
10.35
0.0
21.19
104.09

3.37
6.59
30.15
8.91
3.92
9.88
2.1
10.
.12
23.49
106.51

Engro Polymer & Chemicals Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

263

Financial Statement Analysis of Non Financial Sector

2011

2007
-

2008
-

(Thousand Rupees)
2009
2010
2011
19,419,977. 19,583,286. 19,508,627.
5,248,606.
60,140.
162,137.
16,110,197. 22,127,016. 22,498,332.
14,112,080. 19,138,589. 18,375,445.
519,802.
1,016,117.
1,154,128.
11,816.
20,856.
31,104.
0.0
47,475.
363,701.
939,941.
3,379,518.
4,898,054.
5,199,402.
217,531.
682,894.
114,435.
1,605,438.
2,176,960.
2,508,579.
439,905.
369,400.
292,605.
61,398.
1,055,246.
1,668,800.
2,283,783.
4,888,922.
6,431,165.
9,627,613.
1,610,634.
1,780,388.
722,340.
3,278,288.
4,650,777.
8,905,273.
11,514,930. 11,064,315.
8,839,565.
11,155,098. 10,903,360.
8,620,195.
0.0
0.0
38,312.
321,520.
160,955.
219,370.
6,395,643.
6,985,860.
6,240,851.
5,203,677.
6,634,688.
6,634,688.
5,203,677.
6,634,688.
6,634,688.
0.0
1,191,966.
351,172. -393837
984,751.
900,351.
861,808.
-1255645
207,215. -549179
0.0
-

11,632,775. 14,618,594. 17,049,998.

10,169,334. 12,524,551. 15,486,943.
1,463,441.
2,094,043.
1,563,055.
10,418,592. 13,314,604. 14,892,203.
7,904,707.
8,839,976.
9,337,524.
2,513,885.
4,474,628.
5,554,679.
1,214,183.
1,303,990.
2,157,795.
921,567.
1,125,565.
1,721,249.
483,814.
642,782.
891,770.
437,753.
482,783.
829,479.
339,100.
645,145.
856,759.
606,175.
1,438,988.
1,549,574.
582,898.
1,408,163.
1,520,077.
-197137
-1224621
-1077115
71,787.
167,709.
184,454.
0.0
0.0
725,974. -1395555
2,340,903.

17,910,573. 18,050,175. 15,080,416.

11,155,098. 10,903,360.
8,620,195.
-268924
-1392330
-1261569
12,765,732. 12,683,748.
9,342,535.

.15
5.21
3.78
.51
.69
89.56

.16
9.84
2.53
.6
.76
91.08

.04
9.09
1.72
.69
.54
87.34

2.56
-.86
-3.08
-1.1

2.5
-5.18
-18.3
-6.81
-

7.25
.66
-1.69
.04
-.52
12.29

2.96
-4.38
-16.29
-6.5
-

6.72
.13
-8.38
-.08
-2.1
10.53

6.8
.29
-6.32
.13
-1.9
9.41

Fatima Fertilizer Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

264

2011

Financial Statement Analysis of Non Financial Sector

2007
-

2008
-

2009
54,986,079.
54,292,989.
759,430.
684,940.
45,203.
0.0
0.0
8,150.
2,216,453.
224,417.
0.0
0.0
0.0
1,992,036.
4,660,938.
402,796.
4,258,142.
34,798,806.
28,649,743.
2,196,320.
0.0
54,493.
3,898,250.
17,742,788.
18,000,000.
18,000,000.
0.0
-257212
0.0
-257212
0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
96,205.
0.0
96,205.
52,466.
7,494.
0.0
-97121
0.0
0.0
0.0
-1969691

52,541,594.
28,649,743.
-97121
29,052,539.

.05

(Thousand Rupees)
2010
64,958,358.
64,044,130.
1,013,397.
875,984.
64,728.
38,244.
4,498,680.
283,289.
539,730.
256,548.
3,419,113.
7,074,260.
316,208.
6,758,052.
38,123,998.
37,446,530.
73,796.
603,672.
24,258,780.
24,000,000.
20,000,000.
4,000,000.
258,780.
790,000.
-531220
-

2011
68,221,129.
1,387,735.
67,711,704.
66,827,913.
748,226.

5,481.
8,126,119.
3,839,361.
1,215,014.
195,840.
2,875,904.
10,757,984.
10,757,984.
37,534,399.
34,457,218.

102,754.
2,974,427.
28,054,865.
24,000,000.
20,000,000.
4,000,000.
4,054,865.
790,000.
3,264,865.

0.0
0.0

14,833,343.
14,833,343.

0.0

4,781,491.
2,329,580.
2,451,911.
10,051,852.
1,035,039.
337,946.
697,093.
711,424.
3,063,055.
3,051,662.
6,087,568.
243,659.
3,000,000.

0.0
113,866.
113,866.
35,749.
8,950.
5,146.
-121070
64,483.
-381357

62,382,778.
37,446,530.
-185553
37,762,738.

65,589,264.
34,457,218.
2,843,909.
34,457,218.

.08

.38
20.65
1.32
.19
.76
32.23

0.0
.48

0.0
.64
-

7,465,601.

2.22
-.17
-.55
-.18

1.86
-.19
-.58
-.21
-

-.05
-.05
9.86

0.0
-22.53
-.01
-.09
12.13

1.72
8.35
23.27
9.51
1.95
12.21
2.99
41.04
.15
2.92
14.03

Fauji Fertilizer Bin Qasim Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
14,930,339.
21,471,656.
14,930,339.
983,910.
0.0

12,751,017.
7,235,749.
800,535.
231,272.
1,411,150.
3,072,311.
17,545,673.
4,990,045.
12,555,628.
1,597,987.

0.0
1,597,987.
8,537,696.
9,341,100.
9,341,100.
0.0
-803404

15,777,640.
15,777,640.
0.0
11,093,396.

4,684,244.
1,767,118.
1,767,118.
412,370.
3,756,914.
0.0
2,335,275.
0.0

10,135,683.
0.0
1,421,639.
4,990,045.
.51
2.61
1.47
.57
.73
70.31

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.24
14.38
46.2
37.72
1.61
19.71
23.81
0.0
4.02
9.14
265

Financial Statement Analysis of Non Financial Sector

2007
16,458,265.
23,989,416.
16,458,265.
990,138.
0.0
12,587,706.
3,800,569.
587,946.
243,751.
5,305,812.
2,649,628.
19,397,990.
6,333,615.
13,064,375.
1,139,054.
0.0
1,139,054.
8,508,927.
9,341,100.
9,341,100.
0.0
-832173
-

(Thousand Rupees)
2008
2009
2010
2011
15,847,104. 17,781,417. 17,018,327. 17,243,717.
0.0
748,509.
1,555,623.
24,341,924. 25,174,496. 25,471,013. 26,525,855.
15,847,104. 15,576,899. 13,884,191. 12,854,546.
1,190,072.
100,612.
1,289,709.
1,295,980.
0.0
0.0
74,060.
46,399.
2,127,972.
2,235,255.
2,710,837.
76,546.
76,312.
76,312.
30,924,567. 18,443,765. 18,317,665. 22,932,547.
7,941,524.
9,648,031. 12,720,051.
5,384,363.
5,676,739.
1,227,013.
1,270,667.
3,406,993.
285,454.
476,728.
829,985.
646,516.
2,416,770.
4,658,936.
1,250,000.
8,838,237.
14,604,080.
2,433,057.
2,246,962.
4,656,438.
35,601,867. 16,747,253. 15,389,027. 19,659,438.
18,712,705.
8,186,073.
5,652,724.
7,476,144.
16,889,162.
8,561,180.
9,736,303. 12,183,294.
683,433.
8,818,028.
7,736,933.
6,881,144.
227,810. 4,537,404.
3,889,203.
3,241,002.
0.0
0.0 0.0 683,433.
4,052,814.
3,847,730.
3,640,142.
10,486,371. 10,659,901. 12,210,032. 13,635,682.
9,341,100.
9,341,100.
9,341,100.
9,341,100.
9,341,100.
9,341,100.
9,341,100.
9,341,100.
0.0
0.0 1,145,271.
1,318,801.
2,868,932.
4,294,582.
228,350.
234,730.
234,730.
1,090,451.
2,634,202.
4,059,852.
0.0 -

13,167,135.
13,167,135.
0.0
8,344,557.
-

27,410,756.
27,410,756.
0.0
19,184,696.
-

4,822,578.
1,543,811.
-

8,226,060.
2,548,763.
-

1,543,811.
-

2,548,763.
-

630,513.

2,791,971.
-

3,899,929.
0.0
934,110.
0.0
-

4,404,875.
1,419,206.
2,101,748.
0.0
-

9,647,981.
0.0
2,965,819.
6,333,615.
.48
4.79
1.85
.45
.65
63.37

2011

36,724,920. 43,256,712.
36,724,920. 43,256,712.
0.0 27,059,566. 29,793,541.
15,988,881. 23,636,426.
11,070,685.
6,157,115.
9,665,354. 13,463,171.
3,080,019.
3,997,379.
2,236,123.
2,584,683.
843,896.
1,412,696.
2,127,948.
2,157,639.
1,459,792.
933,996.
1,318,482.
884,248.
5,808,303.
9,685,778.
2,195,215.
3,408,046.
3,736,440.
6,118,421.
0.0 20,743,771.
7,387,951.

11,169,804. 19,477,929.
0.0
227,810.
883,921. -123352
18,712,705.
8,413,883.
.3
10.19
1.04
.59
.87
69.99

.88
3.97
1.3
1.01
1.1
73.68

55,868,834.
55,868,834.
35,753,264.
29,547,328.
6,205,936.
20,115,570.
4,508,165.
2,553,795.
1,954,370.
2,448,513.
1,087,870.
816,486.
16,169,944.
5,668,210.
9,341,100.
8,353,669.

19,946,965.
0.0
159,312.
5,652,724.

20,516,826.
0.0
1,160,634.
7,476,144.

.96
2.16
1.92
1.22
1.19
68.88

.76
1.95
1.16
1.39
1.17
64.

2.41
13.75
45.76
39.43
4.18
22.4
-

3.46
11.62
46.38
42.32
1.42
4.83
-

29.62
0.0
4.18
9.11

16.07
0.0
3.2
11.23

2.4
14.
54.93
37.9
.97
29.93
5.41
15.82
.81
3.87
11.41

1.89
27.07
84.7
49.14
1.03
34.04
11.95
22.39
.32
6.72
13.07

1.95
42.83
125.13
79.92
1.12
16.4
20.8
28.94
.31
11.24
14.6

Fauji Fertilizer Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
11,177,191.
23,698,672.
9,607,957.
665,735.
1,569,234.

16,253,090.
1,623,229.
952,905.
961,427.
6,409,382.
6,306,147.
13,279,988.
5,418,417.
7,861,571.
1,193,750.

216,493.
977,257.
12,956,543.
4,934,742.
4,934,742.
0.0
8,021,801.

48,595,921.
48,595,921.
0.0
34,180,173.

14,415,748.
5,247,604.
5,247,604.
929,732.
9,912,027.
2,354,000.
4,934,742.
0.0

14,150,293.
216,493.
2,623,285.
5,634,910.
.68
1.91
1.98
1.77
1.22
70.34

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.12
35.48
77.
71.01
1.53
51.
20.4
0.0
15.32
26.26
266

Financial Statement Analysis of Non Financial Sector

2007
11,959,724.
25,628,842.
10,390,490.
719,957.
1,569,234.
17,281,490.
1,350,000.
642,836.
1,722,602.
9,352,793.
4,213,259.
13,839,919.
4,163,581.
9,676,338.
2,671,250.
0.0
2,671,250.
12,730,045.
4,934,742.
4,934,742.
0.0
7,795,303.
-

2008
2009
14,300,047. 37,065,297.
0.0
28,622,189. 26,410,997.
12,730,813. 29,570,418.
891,514.
2,293,437.
1,569,234.
1,569,234.
5,505,253.
420,392.
17,618,916. 33,106,400.
931,865. 13,497,379.
258,094.
1,371,100.
495,929.
733,614.
11,256,342. 11,427,504.
4,676,686.
6,076,803.
14,255,536. 34,387,111.
3,857,036. 16,073,826.
10,398,500. 18,313,285.
5,378,214. 16,448,585.
4,806,619.
4,537,404.
0.0
0.0
143,808.
5,378,214.
6,960,754.
12,285,213. 19,336,001.
4,934,742.
6,785,271.
4,934,742.
6,785,271.
0.0
0.0
7,350,471. 12,550,730.
6,224,069.
6,326,661.
0.0

40,688,779.
40,688,779.
0.0
25,731,835.
-

57,433,698.
57,433,698.
0.0
36,829,444.
-

14,956,944.
4,800,349.
-

20,604,254.
6,111,963.
-

4,800,349.
-

6,111,963.
-

1,326,920.

3,487,342.
-

10,407,991.
2,505,000.
4,441,268.
0.0
-

13,802,156.
4,738,206.
6,785,270.
19,739.
-

2011

(Thousand Rupees)
2010
2011
38,288,132. 45,227,826.
3,717,118.
9,982,946.
59,615,617. 68,097,513.
27,179,851. 27,132,537.
2,516,955.
2,529,796.
1,643,294.
1,615,633.
4,859,358.
5,753,941.
888,511.
742,769.
35,728,730. 49,162,845.
14,074,152.
7,404,526.
1,482,387.
4,043,916.
1,187,941.
733,185.
13,270,581. 30,632,717.
5,713,669.
6,348,501.
35,367,234. 44,353,798.
13,928,560. 18,475,650.
21,438,674. 25,878,148.
15,380,479. 17,585,291.
7,708,608. 10,080,890.
7,671,871.
7,504,401.
23,269,149. 32,451,582.
6,785,271.
8,481,588.
6,785,271.
8,481,588.
16,483,878. 23,969,994.
6,961,291.
7,661,232.
9,522,587. 16,308,762.
-

72,914,811. 88,154,698. 111,111,913.

72,914,811. 88,154,698. 111,111,913.
0.0 47,574,610. 55,103,948. 56,625,023.
23,498,010. 31,655,000. 36,478,419.
24,076,600. 23,448,948. 20,146,604.
25,340,201. 33,050,750. 54,486,890.
7,525,534.
9,372,892. 11,562,963.
0.0
6,554,085.
6,947,774.
7,525,534.
2,818,807.
4,615,189.
1,399,842.
6,088,628.
7,222,162.
2,336,211.
2,001,355.
1,824,471.
2,253,565.
1,962,448.
1,580,961.
16,860,991. 23,505,322. 44,737,408.
5,837,326.
8,508,500. 16,407,348.
8,922,631.
8,820,852. 16,963,176.
678,527.
1,696,318.
4,240,794.
29,331,554. 22,070,408. 28,909,052.

15,401,295.
0.0
3,461,723.
4,163,581.

17,663,427.
0.0
2,278,680.
3,857,036.

35,784,586.
4,806,619.
2,101,034.
20,880,445.

38,649,628.
7,708,608.
6,175,970.
21,637,168.

50,036,873.
10,080,890.
11,366,884.
28,556,540.

.9
3.26
4.23
1.39
1.25
63.24

.89
6.07
.86
1.8
1.24
64.13

.75
3.2
1.01
1.04
.96
65.25

.81
2.27
1.35
1.19
1.01
62.51

.87
1.64
.66
1.18
1.11
50.96

1.3
36.73
81.04
70.44
1.78
63.3
-

1.6
45.13
110.35
83.49
1.34
222.53
-

25.58
0.0
16.02
25.8

24.03
0.0
18.37
24.9

2.63
33.03
106.64
63.09
1.24
53.18
8.48
23.12
.58
16.25
28.5

2.18
32.6
110.34
63.16
1.7
59.47
12.98
26.66
.43
22.1
34.29

1.91
53.13
160.58
100.89
1.67
27.48
29.3
40.26
.47
33.4
38.26

Ferozsons Laboratories Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
486,662.
539,514.
486,662.
45,170.
0.0

455,804.
12,301.
145,341.
12,612.
224,968.
60,582.
157,623.
10,835.
146,788.
5,321.

0.0
5,321.
779,522.
100,467.
100,467.
0.0
679,055.

923,036.
923,036.
0.0
476,640.

446,396.
233,925.
233,925.
2,328.
221,591.
63,172.
40,187.
20,093.

784,843.
0.0
118,232.
10,835.
1.59
.25
1.37
.98
2.89
51.64

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.21
29.33
36.4
35.89
3.94
6.35
24.01
0.0
15.77
77.59
267

Financial Statement Analysis of Non Financial Sector

2007
539,456.
630,496.
539,456.
42,106.
0.0
678,905.
41,681.
133,816.
31,938.
336,576.
134,894.
202,560.
21,624.
180,936.
76,212.
0.0
76,212.
939,589.
120,561.
120,561.
0.0
819,028.
-

(Thousand Rupees)
2008
2009
2010
2011
610,987.
1,278,224.
1,300,404.
1,472,952.
0.0 732,701.
1,435,864.
1,555,899.
1,722,984.
610,987.
1,273,098.
1,294,927.
1,465,486.
33,245.
45,403.
108,664.
131,312.
0.0
0.0 33.
33.
5,093.
5,444.
7,466.
870,642.
474,850.
681,611.
1,091,301.
35,807.
45,744.
56,493.
155,394.
180,788.
280,925.
389,995.
592,723.
24,454.
57,955.
74,110.
158,263.
397,901.
0.0
19,715.
23,673.
231,692.
90,226.
141,298.
161,248.
245,861.
269,146.
361,241.
410,039.
59,150.
95,657.
36,528.
37,806.
186,711.
173,488.
324,713.
372,233.
157,520.
228,498.
138,407.
121,695.
174,538.
79,938.
0.0 0.0
0.0 0.0 157,520.
53,960.
58,469.
121,695.
1,078,248.
1,255,431.
1,482,367.
2,032,519.
144,673.
173,607.
208,328.
249,995.
144,673.
173,607.
208,328.
249,995.
0.0
0.0 933,575.
834,349.
1,032,018.
1,392,832.
39,312.
24,794.
49,998.
795,037.
1,007,224.
1,342,834.
247,475.
242,021.
389,692.

1,022,505.
1,022,505.
0.0
515,644.
-

1,045,220.
1,045,220.
0.0
504,481.
-

506,861.
283,637.
-

540,739.
281,219.
-

283,637.
-

281,219.
-

4,148.

1,487.
-

258,513.
56,841.
78,364.
24,112.
-

2011

292,662.
74,249.
43,402.
28,935.
-

1,189,257.
1,536,683.
1,189,257.
1,536,683.
0.0 584,147.
837,141.
517,152.
632,449.
66,995.
204,692.
605,110.
699,542.
381,707.
440,519.
271,025.
318,253.
110,682.
122,266.
202,925.
227,124.
3,779.
33,461.
1,477.
31,252.
249,141.
261,432.
62,063.
12,766.
17,361. 34,721.
41,666.
107,095.
223,474.

2,202,757.
2,202,757.

1,073,340.
758,108.
315,232.
1,129,417.
616,902.
457,033.
159,869.
288,257.
20,109.
18,332.
507,540.
27,167.
62,499.
37,499.
360,821.

1,015,801.
0.0
123,308.
21,624.

1,235,768.
0.0
175,011.
59,150.

1,483,929.
174,538.
169,717.
270,195.

1,620,774.
79,938.
248,666.
116,466.

2,154,214.
0.0
417,874.
37,806.

2.03
.41
3.12
.84
3.35
50.43

1.86
.14
2.34
.71
3.54
48.27

.39
.32
4.87
.68
1.76
49.12

.42
2.18
4.82
.78
1.89
54.48

.82
.91
7.18
.86
2.66
48.73

.3
23.93
30.08
28.71
2.57
7.64
-

.37
21.68
29.01
26.
5.03
5.78
-

25.28
0.0
16.73
77.93

28.
0.0
15.1
74.53

.4
15.4
21.35
18.32
10.78 4.23
169.73
20.95
.22
10.78
72.31

.34
14.
19.1
16.84
3.94
9.37
17.01
.45
11.94
71.16

.26
22.33
28.88
26.89
7.69
3.72
28.69
23.04
.68
19.22
81.3

Gatron (Industries) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,487,650.
5,425,000.
2,487,650.
203,801.
0.0

2,739,192.
13,801.
1,662,434.
331,347.
302,204.
429,406.
2,676,825.
845,910.
1,830,915.
461,013.

0.0
461,013.
2,089,004.
383,645.
383,645.
0.0
1,705,359.

4,839,861.
4,488,203.
351,658.
4,488,019.

351,842.
133,275.
133,275.
126,359.
129,849.
23,703.
57,547.
0.0

2,550,017.
0.0
48,599.
845,910.
.24
2.61
6.85
.93
1.02
92.73

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.5
2.48
5.26
4.47
1.84
2.91
2.68
0.0
2.77
54.45
268

Financial Statement Analysis of Non Financial Sector

2007
2,477,898.
5,590,156.
2,477,898.
267,844.
0.0
2,767,270.
20,185.
1,484,363.
527,080.
300,500.
435,142.
2,603,355.
1,054,015.
1,549,340.
458,836.
0.0
458,836.
2,182,977.
383,645.
383,645.
0.0
1,799,332.
-

(Thousand Rupees)
2008
2009
2010
2011
2,447,092.
4,820,650.
5,071,333.
5,061,559.
44,006.
15,896.
34,726.
5,732,852.
6,860,570.
6,987,445.
7,035,066.
2,447,092.
2,986,512.
2,882,146.
2,462,787.
261,107.
287,276.
280,749.
323,784.
0.0
0.0 1,781,013.
2,158,770.
2,535,638.
9,119.
14,521.
28,408.
3,421,747.
3,272,306.
2,852,669.
3,925,672.
94,729.
172,855.
136,418.
164,125.
1,719,387.
1,956,512.
1,392,237.
1,932,038.
643,811.
544,109.
523,609.
1,191,968.
300,500.
0.0 663,320.
598,830.
800,405.
637,541.
2,652,657.
2,481,070.
1,717,945.
2,134,021.
902,852.
1,745,657.
429,190.
393,493.
1,749,805.
735,413.
1,288,755.
1,740,528.
934,108.
832,783.
769,657.
543,116.
337,472.
298,815.
79,158.
0.0 0.0
0.0 58,999.
68,392.
80,964.
934,108.
436,312.
402,450.
382,994.
2,282,074.
4,779,103.
5,436,400.
6,310,094.
383,645.
383,645.
383,645.
383,645.
383,645.
383,645.
383,645.
383,645.
0.0
0.0 1,898,429.
4,395,458.
5,052,755.
5,926,449.
458,645.
458,645.
458,645.
3,936,813.
4,594,110.
5,467,804.
0.0 -

6,209,240.
5,578,538.
630,702.
5,684,224.
-

7,056,483.
6,105,612.
950,871.
6,271,176.
-

525,016.
206,735.
-

785,307.
409,724.
-

206,735.
-

409,724.
-

171,874.

152,715.
-

180,418.
30,135.
57,547.
0.0
-

2011

231,605.
17,186.
57,547.
82,284.
-

7,372,729.
8,480,372.
6,729,586.
7,796,519.
643,143.
683,853.
6,551,333.
7,679,288.
5,024,010.
5,714,491.
1,527,323.
1,964,797.
821,396.
801,084.
326,408.
285,299.
130,996.
133,078.
195,412.
152,221.
495,585.
558,868.
255,629.
173,062.
253,047.
171,342.
253,005.
349,555.
7,225.
46,330.
57,547.
76,729.
0.0 66,354.
1,344,896.

10,599,670.
10,088,796.
510,874.
9,457,681.
7,781,109.
1,676,572.
1,141,989.
358,104.
174,406.
183,698.
632,823.
66,508.
64,607.
734,751.
235,604.
191,823.
429,147.

2,641,813.
0.0
92,736.
1,054,015.

3,216,182.
0.0
156,872.
902,852.

5,611,886.
337,472.
188,233.
2,083,129.

6,206,057.
298,815.
226,496.
728,005.

6,853,210.
79,158.
307,325.
472,651.

.33
2.77
8.49
1.18
1.06
91.54

.39
2.16
9.12
1.2
1.29
88.87

.29
3.47
7.38
.91
1.32
88.86

.38
2.04
6.17
1.07
1.66
90.55

.64
.63
11.25
1.18
1.84
89.23

1.4
3.45
8.45
6.95
2.61
4.18
-

1.57
4.17
10.37
7.91
3.73
4.1
-

2.91
0.0
3.92
56.9

3.28
0.0
5.59
59.48

.69
3.62
7.17
5.73
4.27
3.77
2.
3.43
.02
6.41
124.57

.46
4.36
6.84
5.92
3.95
6.09
3.04
4.12
.54
7.9
141.7

.42
8.69
12.51
11.25
2.6
5.49
12.37
6.93
.16
13.01
164.48

Ghani Gases Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

269

Financial Statement Analysis of Non Financial Sector

2011

2007
-

2008
-

(Thousand Rupees)
2009
2010
2011
1,071,511.
1,105,697.
1,278,224.
196,607.
265,234.
12,102.
876,971.
885,270.
1,276,804.
860,921.
812,912.
1,174,845.
15,535.
56,308.
30,093.
0.0
0.0
13,983.
27,551.
90,157.
57,785.
178,414.
254,612.
8,310.
85,605.
104,030.
6,735.
19,035.
31,880.
9,640.
19,604.
39,731.
0.0
33,100.
54,170.
78,971.
64,706.
172,856.
252,257.
18,474.
24,979.
25,000.
46,232.
147,877.
227,257.
354,819.
465,688.
555,568.
261,692.
331,821.
243,333.
0.0
100,772.
250,137.
0.0
0.0
93,127.
33,095.
62,098.
709,771.
645,567.
725,011.
724,500.
724,500.
724,500.
724,500.
724,500.
724,500.
0.0
-14729
-78933
511.
30,000.
30,000.
30,000.
-44729
-108933
-29489
0.0
-

25,651.
270,617.
25,651.
270,617.
0.0
23,741.
245,108.
61.
2,231.
23,680.
242,877.
1,910.
25,509.
39,680.
106,316.
10,844.
52,335.
28,836.
53,981.
19,371.
57,674.
2,001.
34,571.
1,811.
34,494.
-38367
-62557
7,500.
1,617.
0.0
0.0
-211062
87.

1,064,590.
1,111,255.
261,692.
331,821.
-45868
-64174
280,167.
356,800.

.28
7.8
37.58
.02
.89
92.56

.61
12.77
7.24
.21
1.03
90.57

1,120.
-

444,462.
444,462.
298,932.
5,689.
293,243.
145,530.
116,281.
63,091.
53,190.
59,813.
57,121.
56,619.
85,012.
5,569.
80,687.
1,280,579.
243,333.
79,443.
268,333.
.57
12.85
8.94
.29
1.01
67.26

.59
-3.4
-5.41
-3.6

.99
-5.18
-9.23
-5.75
-

3.81
-20.18
-149.58
-.5
-.63
9.8

1.11
6.04
12.41
7.11
-

14.22
-.81
-23.12
0.0
-.89
8.91

13.94
2.5
19.13
.1
1.1
10.01

Glaxosmithkline (Pakistan) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,774,449.
3,374,753.
1,774,449.
152,766.
0.0

7,669,373.
4,666,470.
2,195,407.
84,697.
195,525.
527,274.
1,906,904.
0.0
1,906,904.
0.0

0.0
0.0
7,536,918.
1,365,375.
1,365,375.
0.0
6,171,543.

10,240,065.
10,025,453.
214,612.
6,373,399.

3,866,666.
1,711,871.
1,711,871.
19,316.
2,631,869.
944,373.
1,092,300.
273,075.

7,536,918.
0.0
595,196.
0.0
2.59
.19
.83
1.08
4.02
62.24

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.25
29.73
36.35
36.35
1.54
4.66
25.7
0.0
12.36
55.2
270

Financial Statement Analysis of Non Financial Sector

2007
2,236,720.
3,659,024.
2,236,720.
172,362.
0.0
7,927,789.
4,252,745.
2,277,175.
116,847.
445,057.
835,965.
2,046,868.
0.0
2,046,868.
0.0
0.0
0.0
8,117,641.
1,706,719.
1,706,719.
0.0
6,410,922.
-

(Thousand Rupees)
2008
2009
2010
2011
2,415,255.
5,027,966.
5,231,199.
5,820,702.
422,278.
822,560.
1,267,864.
4,185,025.
5,353,035.
5,620,811.
6,068,393.
2,415,255.
3,407,310.
3,367,436.
3,503,311.
231,041.
310,126.
371,834.
361,173.
0.0
956,045.
955,742.
955,742.
168,687. 73,646.
85,461.
93,785.
8,210,370.
9,402,942.
9,660,600.
9,616,883.
2,724,897.
2,053,153.
2,808,772.
2,128,926.
3,494,054.
4,543,689.
4,312,535.
5,602,526.
1,016,968.
1,328,457.
295,762.
343,404.
327,366.
644,889.
901,955.
196,706.
647,085.
832,754.
1,341,576.
1,345,321.
2,270,734.
3,346,868.
3,560,293.
3,881,011.
0.0
4,520. 2,270,734.
3,342,348.
3,560,293.
3,881,011.
0.0
490,554.
531,692.
448,002.
0.0 0.0 0.0
0.0 72,885.
115,240.
19,706.
0.0
417,669.
416,452.
428,296.
8,354,891. 10,593,486. 10,799,814. 11,108,572.
1,706,718.
1,706,718.
1,964,118.
2,392,691.
1,706,718.
1,706,718.
1,964,118.
2,392,691.
0.0
0.0 6,648,173.
8,886,768.
8,835,696.
8,715,881.
2,866,368.
2,612,811.
2,184,238.
6,020,400.
6,222,885.
6,531,643.
0.0 -

10,784,802.
10,528,472.
256,330.
6,832,673.
-

13,687,063.
13,397,423.
289,640.
9,831,458.
-

3,952,129.
1,921,451.
-

3,855,605.
2,057,496.
-

1,921,451.
-

2,057,496.
-

11,550.

76,859.
-

2,658,543.
877,946.
1,280,039.
426,680.
-

2011

3,001,040.
990,000.
1,621,382.
0.0
-

16,753,873.
16,310,281.
443,592.
12,514,592.
8,262,577.
4,252,015.
4,239,281.
2,951,749.
1,949,079.
1,002,670.
2,208,089.
44,645.
16,846.
1,706,580.
722,067.
853,359.
0.0
1,347,341.

18,916,191.
18,330,228.
585,963.
14,063,242.
8,973,530.
5,089,712.
4,852,949.
3,298,895.
2,301,516.
997,379.
2,150,226.
20,026.
136.
1,931,724.
864,298.
785,647.
294,618.
2,433,324.

21,750,147.
21,037,188.
712,959.
15,931,728.
11,055,168.
4,876,560.
5,818,419.
4,006,932.
2,790,373.
1,216,559.
1,372,683.
36,526.
834.
2,236,888.
1,059,128.
957,076.
239,269.
127,113.

8,117,641.
0.0
500,558.
0.0

8,354,891.
0.0
389,658.
0.0

11,084,040.
0.0
131,154.
4,520.

11,331,506.
0.0
281,779.
0.0

11,556,574.
0.0
220,684.
0.0

2.35
.11
1.08
1.06
3.87
63.35

1.79
.56
7.43
1.29
3.62
71.83

1.2
.27
7.93
1.16
2.81
74.7

1.13
.11
1.56
1.27
2.71
74.34

.69
.17
1.58
1.41
2.48
73.25

.25
27.12
33.97
33.97
1.39
4.74
-

.27
28.87
36.44
36.44
1.24
3.92
-

24.65
0.0
10.43
47.56

21.93
0.0
11.78
48.95

.36
13.62
18.01
17.56
1.15
3.69
102.3
10.19
.35
5.77
62.07

.38
13.18
18.06
17.24
1.36
4.39
14,204.85
10.21
.59
5.43
54.99

.39
14.75
20.42
19.55
1.23
3.88
2,683.12
10.28
.03
4.92
46.43

Highnoon Laboratories Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
555,663.
753,434.
515,255.
52,925.
40,408.

600,964.
15,565.
359,569.
125,547.
20,000.
80,283.
591,515.
313,590.
277,925.
40,881.

0.0
40,881.
524,231.
130,654.
130,654.
0.0
393,577.

1,640,490.
1,549,389.
91,101.
976,260.

664,230.
539,667.
539,667.
41,508.
99,909.
45,005.
19,598.
19,598.

565,112.
0.0
35,306.
313,590.
.27
2.53
7.65
1.42
1.02
59.51

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.21
8.94
19.1
17.87
2.8
4.56
6.09
0.0
4.2
40.12
271

Financial Statement Analysis of Non Financial Sector

2007
662,532.
860,113.
618,702.
55,527.
43,830.
676,438.
11,857.
418,423.
187,341.
20,000.
38,817.
594,336.
284,274.
310,062.
86,182.
0.0
86,182.
658,452.
150,252.
150,252.
0.0
508,200.
-

(Thousand Rupees)
2008
2009
2010
2011
749,780.
779,574.
840,530.
828,457.
37,199.
13,484.
13,633.
957,891.
996,613.
1,135,773.
1,198,721.
683,288.
675,428.
696,384.
701,418.
56,276.
64,765.
63,767.
65,378.
66,492.
65,385.
129,099.
111,844.
0.0 1,562.
1,563.
1,562.
726,367.
966,467.
901,894.
730,455.
7,178.
32,177.
65,485.
13,214.
449,901.
700,501.
640,845.
518,480.
140,987.
27,137.
42,107.
55,168.
10,000.
0.0 118,301.
206,651.
153,457.
143,593.
680,638.
765,794.
640,562.
444,344.
389,580.
611,497.
433,152.
166,291.
291,058.
154,297.
207,410.
278,053.
96,472.
297,680.
387,956.
349,755.
70,554.
99,947.
57,659.
0.0 0.0
0.0 113,273. 96,472.
113,853.
288,009.
292,096.
699,037.
682,567.
713,906.
764,813.
165,277.
165,277.
165,278.
181,805.
165,277.
165,277.
165,278.
181,805.
0.0
0.0 533,760.
322,900.
360,153.
399,855.
0.0 322,900.
360,153.
399,855.
194,389.
188,475.
183,153.

2,072,087.
2,010,232.
61,855.
1,272,497.
-

2,354,224.
2,294,968.
59,256.
1,547,713.
-

799,590.
668,967.
-

806,511.
623,662.
-

668,967.
-

623,662.
-

47,114.

78,591.
-

97,022.
54,829.
37,563.
15,025.
-

2011

120,202.
15,868.
41,319.
0.0
-

2,478,391.
2,377,409.
100,981.
1,574,598.
1,250,804.
323,794.
903,793.
682,661.
483,659.
199,002.
436,143.
81,530.
78,753.
152,224.
33,572.
41,319.
0.0
31,291.

2,636,538.
2,504,383.
132,155.
1,732,983.
1,402,433.
330,550.
903,555.
714,577.
538,367.
176,210.
427,809.
89,425.
79,811.
107,901.
22,727.
41,320.
16,528.
271,054.

2,944,907.
2,808,654.
136,253.
2,030,736.
1,664,236.
366,500.
914,171.
792,653.
568,589.
224,064.
464,061.
70,371.
62,531.
143,899.
56,938.
54,542.

386,540.

744,634.
0.0
4,630.
284,274.

795,509.
0.0
63,015.
389,580.

980,247.
70,554.
77,333.
682,051.

1,101,862.
99,947.
43,855.
533,099.

1,114,568.
57,659.
32,420.
223,950.

.37
2.27
9.04
1.55
1.14
61.41

.23
3.34
5.99
1.59
1.07
65.74

.08
3.29
1.09
1.42
1.26
63.53

.17
3.39
1.6
1.51
1.41
65.73

.15
2.39
1.87
1.89
1.64
68.96

1.03
7.78
16.41
14.82
1.12
4.95
-

1.11
8.54
17.71
15.61
2.53
5.23
-

4.68
0.0
2.81
43.82

5.11
0.0
6.31
42.29

1.56
9.45
22.04
17.14
2.87
3.54
2.93
6.14
.03
7.18
41.3

1.44
6.19
15.45
10.36
2.06
4.11
2.35
4.09
.26
5.15
43.19

1.04
8.72
19.46
12.98
1.59
5.68
3.3
4.89
.49
4.78
42.07

ICI Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
8,415,034.
18,544,997.
8,343,260.
688,876.
71,774.

8,514,550.
1,791,151.
2,347,790.
730,676.
212,500.
3,432,433.
5,540,354.
3,613.
5,536,741.

11,389,230.
1,388,023.
1,388,023.
10,001,207.

21,885,250.
21,885,250.
17,934,098.

3,951,152.
1,773,800.
1,773,800.
323,980.
1,976,395.
2,362.
763,413.

11,389,230.
1,210,620.
3,613.
.49
1.48
3.34
1.29
1.54
81.95

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.49
12.48
18.33
18.33
2.59
9.32
9.03
0.0
14.22
82.05
272

Financial Statement Analysis of Non Financial Sector

0.0
0.0
0.0

0.0
-

2007
8,546,473.
19,468,875.
8,506,736.
842,352.
39,737.
10,259,818.
3,615,056.
2,311,336.
1,049,464.
582,500.
2,701,462.
6,395,674.
0.0
6,395,674.
0.0
0.0
0.0
12,410,617.
1,388,023.
1,388,023.
0.0
11,022,594.
-

(Thousand Rupees)
2008
2009
2010
2011
9,361,469. 10,025,878.
9,881,626. 10,705,969.
416,883.
285,356.
183,631.
21,023,833. 22,584,248. 23,291,541. 25,023,955.
9,353,769.
9,445,987.
9,224,944. 10,147,228.
774,007.
949,609.
997,749.
1,102,488.
7,700.
0.0
180,103.
141,051.
2,500.
2,500.
2,500.
160,508.
188,723.
231,559.
9,109,216. 11,053,575. 11,829,073. 12,799,263.
1,971,081.
4,547,713.
4,739,557.
4,961,379.
2,951,956.
3,253,345.
3,811,236.
4,625,716.
806,612.
944,879.
818,351.
644,117.
712,500.
0.0 2,667,067.
2,307,638.
2,459,929.
2,568,051.
5,059,764.
5,909,528.
5,566,621.
6,187,780.
0.0
36,038. 5,059,764.
5,873,490.
5,566,621.
6,187,780.
0.0
1,208,356.
1,093,429.
1,282,970.
0.0 0.0 0.0
0.0 519,579.
223,181.
280,394.
0.0
688,777.
870,248.
1,002,576.
13,410,921. 13,961,569. 15,050,649. 16,034,482.
1,388,023.
1,388,023.
1,388,023.
1,388,023.
1,388,023.
1,388,023.
1,388,023.
1,388,023.
0.0
0.0 12,022,898. 11,629,422. 12,745,246. 12,789,508.
465,845.
465,845.
465,845.
11,163,577. 12,279,401. 12,323,663.
944,124.
917,380.
1,856,951.

25,973,009.
25,973,009.
0.0
21,308,906.

0.0
-

27,798,915.
27,032,222.
766,693.
22,303,138.
-

4,664,103.
2,060,085.
-

5,495,777.
2,677,116.
-

2,060,085.
-

2,677,116.
-

154,101.

0.0

219,308.
-

2,604,184.
127,702.
832,814.
0.0

0.0
-

2011

2,812,778.
102,838.
902,215.
0.0
-

12,410,617.
0.0
1,643,668.
0.0

13,410,921.
0.0
1,807,725.
0.0

.82
.59
4.04
1.38
1.6
82.04

.69
.79
2.9
1.51
1.8
80.23

28,336,655. 34,994,489.
28,010,436. 34,157,479.
326,219.
837,010.
22,569,672. 28,182,149.
16,032,649. 20,217,945.
6,537,023.
7,964,204.
5,766,983.
6,812,340.
2,896,980.
3,283,737.
1,470,174.
1,674,719.
1,426,806.
1,609,018.
2,331,407.
2,234,802.
185,742.
165,416.
19,965.
1,536.
3,082,098.
3,779,793.
490,813.
1,457,540.
1,110,418.
2,429,040.
0.0 4,630,885.
2,498,711.

39,978,983.
39,607,918.
371,065.
33,485,532.
24,597,501.
8,888,031.
6,493,451.
3,590,135.
1,851,279.
1,738,856.
2,692,956.
141,484.
333.
3,147,029.
1,098,647.
1,249,221.

15,169,925. 16,144,078.
0.0
0.0
1,480,867. -106787
36,038.
0.0

17,317,452.

.93
.66
3.33
1.34
1.87
79.65

1.
.47
2.34
1.61
2.13
80.53

3,118,769.

0.0
799,161.
0.0
.91
.35
1.61
1.7
2.07
83.76

.52
14.57
21.88
21.88
2.97
11.24
-

.38
15.09
21.79
21.79
3.
9.42
-

10.03
0.0
17.84
89.41

10.12
0.0
19.52
96.62

.51
15.59
22.52
21.57
2.33
8.71
155.38
10.88
.65
18.67
100.59

.44
17.67
26.06
24.14
.96
9.18
2,461.8
10.8
.38
16.73
108.43

.47
13.92
20.25
18.81
1.64
8.64
9,451.54
7.87
.42
14.76
115.52

Ittehad Chemicals Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,536,078.
3,022,524.
2,534,327.
151,281.
1,751.

1,024,421.
257,713.
144,617.
201,342.
1,817.
418,932.
1,211,382.
691,847.
519,535.
1,083,704.

83,266.
1,000,438.
1,265,413.
300,000.
300,000.
0.0
965,413.

2,519,248.
2,519,248.
0.0
2,053,867.

465,381.
167,965.
167,965.
142,055.
166,716.
11,000.
0.0
60,000.

2,349,117.
83,266.
155,716.
775,113.
.38
5.64
7.99
.71
.85
81.53

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.81
5.59
18.53
8.75
17.42
6.62
0.0
5.19
42.18
273

Financial Statement Analysis of Non Financial Sector

2007
2,491,106.
3,171,273.
2,489,568.
194,701.
1,538.
1,042,350.
29,130.
102,285.
444,614.
65,542.
400,779.
1,323,098.
835,414.
487,684.
802,509.
0.0
802,509.
1,407,849.
360,000.
360,000.
0.0
1,047,849.
-

(Thousand Rupees)
2008
2009
2010
2011
2,424,996.
2,714,739.
2,618,994.
2,688,915.
32,919.
54,380.
83,634.
3,283,458.
3,676,766.
3,751,613.
3,970,485.
2,420,855.
2,598,293.
2,470,758.
2,498,639.
181,901.
206,274.
205,356.
195,285.
4,141.
9,755.
1,462.
253.
61,586. 12,186.
92,394.
106,389.
1,065,915.
1,211,614.
1,261,499.
1,346,803.
40,859.
26,494.
15,399.
117,434.
144,335.
128,307.
197,815.
219,946.
297,437.
601,687.
501,812.
459,683.
136,057.
0.0 447,227.
455,126.
546,473.
549,740.
921,398.
993,984.
1,023,069.
1,333,984.
345,391.
461,590.
301,661.
558,018.
576,007.
532,394.
721,408.
775,966.
1,150,491.
1,341,141.
1,163,117.
942,075.
953,803.
1,025,653.
875,062.
29,810.
15,810.
10,810.
0.0
0.0 5,515. 1,150,491.
352,013.
121,654.
56,203.
1,419,022.
1,591,228.
1,694,307.
1,759,659.
360,000.
360,000.
360,000.
360,000.
360,000.
360,000.
360,000.
360,000.
0.0
0.0 1,059,022.
482,669.
585,748.
651,100.
4,261.
9,740.
478,408.
576,008.
651,100.
748,559.
748,559.
748,559.

2,958,555.
2,958,555.
0.0
2,336,587.
-

3,170,989.
3,170,989.
0.0
2,636,186.
-

621,968.
191,202.
-

534,803.
226,778.
-

191,202.
-

226,778.
-

207,791.

218,056.
-

234,795.
12,900.
54,000.
0.0
-

2011

91,799.
14,411.
54,000.
0.0
-

3,633,404.
3,633,404.
0.0
2,792,628.
413,865.
2,378,763.
840,776.
340,747.
218,750.
121,997.
250,176.
250,907.
246,920.
262,441.
36,056.
54,000.
0.0 360,628.

3,257,935.
2,959,386.
298,549.
2,552,172.
566,185.
1,985,987.
705,763.
353,572.
229,838.
123,734.
240,746.
216,332.
211,878.
150,704.
60,697.
18,000.

3,309,968.
3,023,445.
286,523.
2,621,991.
512,747.
2,109,244.
687,977.
370,051.
247,455.
122,596.
271,338.
228,381.
221,607.
109,459.
34,157.
36,000.

116,386.

313,210.

2,210,358.
0.0
167,895.
835,414.

2,569,513.
0.0
23,388.
345,391.

2,932,369.
953,803.
172,385.
1,415,393.

2,857,424.
1,025,653.
72,007.
1,327,314.

2,701,734.
875,062.
39,302.
1,433,080.

.41
7.02
15.03
.84
.79
78.98

.51
6.88
9.38
.91
1.16
83.13

.63
6.91
16.56
.93
1.22
76.86

.51
6.64
15.4
.84
1.23
78.34

.43
6.9
13.89
.82
1.01
79.21

1.51
6.62
17.57
10.3
4.11
28.92

1.46
2.61
6.49
3.84
1.43
21.97
-

7.94
0.0
6.16
39.11

2.89
0.0
2.15
39.42

1.47
7.08
17.44
9.54
4.19
28.32
2.06
7.22
.15
6.29
44.2

1.29
3.86
9.17
5.21
5.
16.47
1.71
4.63
.05
2.5
47.06

1.29
2.77
6.34
3.94
2.09
15.05
1.49
3.31
.14
2.09
48.88

Leiner Pak Gelatine Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
104,686.
262,358.
104,686.
10,591.
0.0

161,157.
1,786.
111,927.
14,634.
0.0
32,810.
108,814.
59,037.
49,777.
2,420.

0.0
2,420.
154,609.
75,000.
75,000.
0.0
79,609.

265,847.
100,242.
165,605.
203,487.

62,360.
37,184.
37,184.
6,404.
20,488.
5,386.
0.0
0.0

157,029.
0.0
15,102.
59,037.
.15
2.41
5.5
1.
1.48
76.54

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.72
7.5
13.9
13.42
2.38
7.71
0.0
2.01
20.61
274

Financial Statement Analysis of Non Financial Sector

2007
99,862.
-

266,301.
99,862.
9,897.
0.0

171,498.
1,166.
112,816.
33,414.
0.0
24,102.
129,931.
61,175.
68,756.
1,735.

0.0

1,735.
139,694.
75,000.
75,000.
0.0
64,694.

(Thousand Rupees)
2008
2009
2010
2011
172,410.
173,156.
196,883.
206,141.
1,499.
26,217.
7,071.
346,072.
353,341.
360,277.
397,587.
172,410.
170,743.
169,023.
196,718.
9,721.
9,672.
10,218.
10,082.
0.0
64.
50.
36.
0.0 850.
1,593.
2,316.
187,351.
210,729.
168,680.
189,068.
1,144.
1,244.
1,130.
1,183.
130,573.
144,725.
117,267.
130,046.
27,013.
40,230.
19,124.
25,102.
0.0
0.0 28,621.
24,530.
31,159.
32,737.
152,747.
145,340.
132,363.
173,465.
82,264.
84,135.
74,653.
85,341.
70,483.
61,205.
57,710.
88,124.
2,357.
12,529.
19,184.
7,982.
3,656.
7,500.
2,500.
0.0 0.0
0.0 0.0 2,357.
8,873.
11,684.
5,482.
204,657.
226,016.
214,016.
213,762.
75,000.
75,000.
75,000.
75,000.
75,000.
75,000.
75,000.
75,000.
0.0
0.0 129,657.
72,818.
60,818.
60,564.
0.0 72,818.
60,818.
60,564.
78,198.
78,198.
78,198.

273,469.
118,071.
155,398.
227,584.
-

254,369.
126,800.
127,569.
216,193.
-

45,885.
37,000.
-

38,176.
38,213.
-

37,000.
-

38,213.
-

5,528.

7,093.
-

5,038.
3,058.
0.0
0.0
-

181.
2,371.
0.0
0.0
-

141,429.
207,014.
0.0
0.0
1,980. -2190
61,175.
82,264.
.27
2.02
12.22
1.01
1.32
83.22

2011

.18
2.79
10.62
.71
1.23
84.99

430,924.
257,564.
173,360.
349,855.
171,590.
178,265.
81,069.
43,265.
4,013.
39,252.
64,567.
11,635.
9,748.
29,502.
8,682.
9,000. 0.0 9,691.

476,657.
279,359.
197,298.
422,867.
276,781.
146,086.
53,790.
43,374.
5,469.
37,905.
56,587.
11,698.
9,450.
491.
3,557.

428,796.
241,052.
187,744.
376,062.
245,801.
130,261.
52,734.
40,728.
5,049.
35,679.
57,489.
14,963.
13,083.
1,004.
4,470.
-

34,914.

17,423.

238,545.
233,200.
221,744.
3,656.
7,500.
2,500.
-3466
11,820. -3066
87,791.
82,153.
87,841.
.29
2.7
9.34
1.12
1.45
81.19

.15
2.45
4.01
1.3
1.27
88.72

.15
3.49
5.85
1.08
1.09
87.7

.94
1.88
3.42
3.38
-

.76
.06
.11
.1
-

2.42
-

1.95
-

1.84
0.0
.26
18.63

.07
0.0
-.29
27.29

.7
7.93
13.7
13.24
2.31 2.98
4.03
6.85
.06
2.78
30.14

.71
.13
.22
.21

.85
.26
.47
.44

4.06
1.05
.1
.23
-.41
28.54

3.3
1.08
.23
.1
-.46
28.5

Linde Pakistan Ltd. (Boc Pakistan Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,175,894.
2,474,131.
1,175,894.
187,887.
0.0

792,128.
298,255.
142,132.
169,895.
0.0
181,846.
755,598.
15,000.
740,598.
0.0

0.0
0.0
1,212,424.
250,387.
250,387.
0.0
962,037.

2,647,017.
2,647,017.
0.0
1,698,579.

948,438.
414,101.
414,101.
12,661.
571,041.
231,321.
375,580.
0.0

1,212,424.
0.0
-35860
15,000.
.62
.48
6.42
1.35
1.05
64.17

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.62
29.04
49.26
48.63
.9
18.62
21.57
0.0
13.57
48.42
275

Financial Statement Analysis of Non Financial Sector

2007
861,190.
1,997,891.
861,190.
139,319.
0.0
1,417,822.
546,915.
156,364.
128,531.
0.0
586,012.
852,880.
0.0
852,880.
0.0
0.0
0.0
1,426,132.
250,387.
250,387.
0.0
1,175,745.
-

(Thousand Rupees)
2008
2009
2010
2011
1,128,372.
1,276,004.
1,342,471.
2,075,442.
43,726.
185,445.
942,963.
2,405,066.
2,411,007.
2,619,567.
2,817,935.
1,128,372.
1,020,722.
1,063,832.
1,092,612.
148,817.
171,647.
177,492.
204,304.
0.0
0.0 199,715. 11,841.
93,194.
39,867.
1,183,928.
1,039,945.
1,044,764.
698,491.
334,478.
500,310.
478,064.
125,551.
246,276.
166,801.
184,455.
155,061.
157,555.
153,030.
168,854.
156,553.
0.0
72,335. 445,619.
147,469.
213,391.
261,326.
804,873.
545,644.
578,329.
695,060.
0.0
0.0 804,873.
545,644.
578,329.
695,060.
0.0
317,599.
317,776.
497,195.
0.0 200,000.
0.0 0.0
0.0 6,079.
6,334.
5,071.
0.0
311,520.
311,442.
292,124.
1,507,427.
1,452,706.
1,491,130.
1,581,678.
250,387.
250,387.
250,387.
250,387.
250,387.
250,387.
250,387.
250,387.
0.0
0.0 1,257,040.
1,202,319.
1,240,743.
1,331,291.
0.0 1,202,319.
1,240,743.
1,331,291.
0.0 -

2,436,068.
2,436,068.
0.0
1,502,186.
-

2,729,628.
2,729,628.
0.0
1,893,981.
-

933,882.
323,917.
-

835,647.
343,723.
-

323,917.
-

343,723.
-

0.0

2,702.
-

685,866.
237,587.
325,503.
0.0
-

547,693.
204,537.
250,387.
0.0
-

1,426,132.
0.0
122,776.
0.0
.79
0.0
5.28
1.07
1.66
61.66

2011

2,307,741.
2,530,022.
2,307,741.
2,530,022.
0.0 1,596,752.
1,843,248.
249,313.
263,283.
1,347,439.
1,579,965.
710,989.
686,774.
500,324.
396,764.
152,785.
195,134.
347,539.
201,630.
331,111.
339,078.
2,125.
2,198.
83.
197.
374,284.
411,026.
153,298.
131,037.
225,348.
150,232.
0.0 552,892.
432,072.

1,507,427.
1,770,305.
0.0
0.0
92,769. -4362
0.0
0.0
.61
.1
5.77
1.18
1.47
69.39

1.33
.09
6.63
1.
1.91
69.19

3,044,800.
3,044,800.
2,275,591.
350,577.
1,925,014.
769,209.
423,420.
211,490.
211,930.
366,941.
1,916.
240.
402,723.
161,394.
175,271.
569,302.

1,808,906.
0.0
129,757.
0.0

2,078,873.
200,000.
66,058.
200,000.

1.12
.09
6.67
1.06
1.81
72.86

.41
.06
5.14
1.1
1.
74.74

.6
32.3
51.99
51.99
1.38
15.58
-

.53
23.86
37.34
37.34
1.37
11.08
-

28.15
0.0
17.9
56.96

20.06
0.0
13.71
60.2

.59
16.17
25.29
22.84
.98
13.84
4,510.45
16.22
.64
8.83
58.02

.6
17.48
27.92
22.97
1.86
13.72
2,087.43
16.25
.48
11.18
59.55

.75
15.61
26.21
20.72
1.38
19.64
1,679.01
13.23
.48
9.64
63.17

Lotte Pakistan PTA Ltd.(Pakistan PTA Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
11,704,801.
12,430,062.
11,704,801.
1,372,015.
0.0

6,211,023.
57,703.
3,703,077.
804,809.
0.0
1,645,434.
11,495,391.
5,576,034.
5,919,357.
533,767.

0.0
533,767.
5,886,666.
15,142,072.
15,142,072.
0.0
-9255406

30,815,350.
27,577,791.
3,237,559.
28,579,024.

2,236,326.
685,005.
685,005.
1,270,819.
364,677.
485,030.
0.0
0.0

6,420,433.
0.0
-120353
5,576,034.
.08
4.12
2.61
1.72
.54
92.74

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.04
2.06
5.92
4.9
8.32
1.18
0.0
-.08
3.89
276

Financial Statement Analysis of Non Financial Sector

2007
10,745,850.
25,453,555.
10,745,850.
1,175,540.
0.0
6,568,981.
74,186.
2,344,637.
2,818,667.
0.0
1,331,491.
7,108,190.
1,568,267.
5,539,923.
4,379,041.
0.0
4,379,041.
5,827,600.
15,142,072.
15,142,072.
0.0
-9314472
-

(Thousand Rupees)
2008
2009
2010
2011
9,952,791.
9,432,597.
8,863,017.
9,999,736.
192,706.
576,645.
2,717,177.
25,856,228. 26,026,418. 27,993,468. 28,259,255.
9,952,791.
9,141,947.
8,177,158.
7,134,254.
1,193,726.
1,205,464.
1,245,337.
1,316,482.
0.0
861.
406.
1,156.
0.0 97,083.
108,808.
147,149.
5,270,119.
9,543,763. 13,896,908. 13,900,632.
16,446.
5,437,940.
6,910,308.
4,505,251.
1,244,313.
1,273,922.
2,655,203.
4,669,004.
1,089,614.
1,800,772.
2,937,816.
3,143,244.
0.0
0.0
364,644.
2,919,746.
1,031,129.
1,028,937.
1,583,133.
10,669,595.
5,750,627.
8,054,478.
9,616,196.
83,615.
119,293. 10,585,980.
5,631,334.
8,054,478.
9,616,196.
400,188.
7,308,015.
5,043,174.
1,201,472.
351,796. 5,322,397.
3,437,500.
0.0
0.0 9,999.
14,749.
20,787.
400,188.
1,623,823.
1,590,925.
1,180,685.
4,153,127.
5,917,718.
9,662,273. 13,082,700.
15,142,072. 15,142,072. 15,142,072. 15,142,072.
15,142,072. 15,142,072. 15,142,072. 15,142,072.
0.0
0.0 -10988945
-9310346
-5479799
-2059372
2,345.
2,345.
2,345.
-9312691
-5482144
-2061717
85,992. -

31,535,535.
31,535,535.
0.0
30,185,488.
-

35,975,240.
35,975,240.
0.0
35,106,901.
-

1,350,047.
286,382.
-

868,339.
1,673,308.
-

286,382.
-

199,411.
206,830.
0.0
0.0

1,673,308.
-

1,033,269.

1,027,497.
-1678690
65,918.
0.0
0.0
-

10,206,641.
4,553,315.
0.0
0.0
-7419
-1744608
1,568,267.
83,615.
.41
3.28
8.94
1.82
.92
95.72

2011

.1
2.86
3.03
2.36
.49
97.59

37,851,240. 42,401,588.
35,024,042. 40,929,998.
2,827,198.
1,471,590.
31,954,429. 35,371,568.
28,220,736. 30,998,548.
3,733,693.
4,373,020.
5,896,811.
7,030,020.
880,312.
984,197.
121,252.
109,983.
759,060.
874,214.
764,858.
477,743.
754,702.
229,225.
245,632.
95,532.
4,719,243.
6,709,596.
1,296,522.
2,344,659.
757,104.
757,104.
0.0 7,051,345.
5,630,598.

57,577,198.
52,133,599.
5,443,599.
50,914,635.
47,203,914.
3,710,721.
6,662,563.
1,030,163.
197,208.
832,955.
553,297.
232,437.
52,455.
6,208,546.
2,258,039.
757,104.

13,225,733.
351,796.
2,665,617.
471,089.

14,705,447.
0.0
3,607,833.
0.0

14,284,172.

1.26
1.99
4.76
1.99
1.66
84.42

1.27
.54
6.93
1.86
1.73
83.42

.8
.4
5.46
2.41
1.45
88.43

2,208,812.

0.0
3,193,403.
0.0

1.97
1.13
3.4
2.4
-

2.67
-10.32
-33.64
-22.75
-

13.45
-

28.91
-

.63
0.0
0.0
3.85

-4.67
0.0
-1.15
2.74

2.21
27.6
93.72
53.09
4.52
29.71
20.21
12.47
.54
2.26
3.91

1.36
32.15
86.13
48.04
5.77
15.97
71.23
15.82
.43
2.88
6.38

.83
26.61
54.59
42.83
5.22
12.33
119.36
10.78
.2
2.61
8.64

Mandviwala Mauser Plastic Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
134,422.
384,367.
134,422.
12,911.
0.0
113,560.
1,518.
16,003.
51,580.
0.0
44,459.
177,010.
43,056.
133,954.
189,706.
0.0
189,706.
-118734
73,554.
73,554.
0.0
-192288
230,498.
225,546.
4,952.
188,164.
42,334.
38,634.
38,634.
7,175.
49,423.
1,015.
0.0
0.0
70,972.
0.0
48,408.
43,056.
.3
3.11
22.38
.93
.64
81.63

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
277

-3.09
19.55
-28.94
102.87
14.4
21.44
0.0
6.58
-16.14

2011

Financial Statement Analysis of Non Financial Sector

2007
2008
142,985.
113,888.
406,765.
390,776.
142,985.
113,888.
13,834.
13,109.
0.0
0.0
122,417.
147,936.
3,244.
1,670.
21,336.
39,290.
75,376.
63,375.
0.0
0.0
22,461.
43,601.
235,900.
250,323.
39,392.
39,038.
196,508.
211,285.
188,996.
196,877.
0.0
0.0
188,996.
196,877.
-159494
-185376
73,554.
73,554.
73,554.
73,554.
0.0
0.0
-233048
-258930
303,091.
298,588.
4,503.
276,492.

249,258.
248,139.
1,119.
227,053.

26,599.
47,460.

22,205.
45,143.

47,460.

45,143.

3,174.

1,725.

-22970

-24633
1,331.
0.0
0.0

1,249.
0.0
0.0

29,502.
11,501.
0.0
0.0
-24301
-25882
39,392.
39,038.
.33
1.05
24.87
1.14
.52
91.22

.26
.69
25.43
.95
.59
91.09

2009
124,071.
0.0
390,045.
103,634.
11,939.
0.0
0.0
20,437.
109,612.
967.
25,332.
62,702.
0.0
20,611.
237,868.
39,169.
198,699.
203,931.
192,914.
0.0
0.0
11,017.
0.0
-208117
73,554.
73,554.
0.0
-281671
58,220.
-339891
0.0

(Thousand Rupees)
2010
2011
113,633.
102,850.
390,045.
384,300.
93,196.
81,658.
10,630.
9,277.
20,437.
21,192.
103,079.
87,128.
1,193.
436.
28,164.
19,108.
48,402.
51,690.
25,320.
15,894.
237,102.
253,077.
32,778.
32,778.
204,324.
220,299.
205,686.
206,255.
191,414.
191,414.
14,272.
14,841.
-226076
-269354
73,554.
73,554.
73,554.
73,554.
-299630
-342908
58,220.
58,605.
-357850
-401513
-

233,300.
203,530.
57,264.
232,237.
198,250.
55,651.
1,064.
5,280.
1,613.
212,665.
183,104.
69,569.
161,720.
141,825.
38,506.
50,945.
41,279.
31,063.
20,635.
20,426. -12305
37,929.
38,378.
28,819.
8,213.
10,807.
2,932.
29,717.
27,571.
25,887.
20,823.
21,255.
13,878.
2,523.
4,231.
255.
2,433.
4,102.
182.
-21572
-16928
-43053
1,169.
1,031.
573.
0.0 0.0 8,665.
8,421.
3,522.
-4186
-20390
-63099
192,914.
191,414.
191,414.
-22741
-17959
-43626
232,083.
224,192.
224,192.
.27
1.08
26.88
1.
.46
91.16

.21
2.08
23.78
.94
.43
89.96

.21
.45
90.27
.3
.34
121.49

-2.66
-8.95
16.51
-45.72

-2.41
-9.34
14.29
-120.15

14.21

6.34

-7.58
0.0
-3.3
-21.68

-9.88
0.0
-3.52
-25.2

-2.12
-8.71
10.96
-589.78
-

-1.96
-7.52
7.8
137.76
-

9.21
-7.87
-9.25
.02
-3.09
-28.29

-1.71
-21.17
17.38
103.13
-

7.23
-3.13
-8.32
.02
-2.44
-30.74

3.
-235.55
-75.18
.01
-5.93
-36.62

Nimir Industrial Chemicals Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,136,023.
1,415,216.
1,136,023.
45,973.
0.0

315,966.
93,361.
66,871.
121,462.
0.0
34,272.
916,480.
5,032.
911,448.
176,471.

0.0
176,471.
359,038.
1,105,905.
1,105,905.
0.0
-746867

612,904.
612,904.
0.0
634,190.

-21286
58,806.
58,806.
60,980.
-117101
3,049.
0.0
0.0

535,509.
0.0
-120150
5,032.
.23
9.95
19.82
.42
.34
103.47

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.04
-8.16
-25.88
-14.32
9.17
-19.11
0.0
-1.09
3.25
278

Financial Statement Analysis of Non Financial Sector

2007
1,211,452.
1,546,502.
1,211,452.
57,771.
0.0
437,330.
135,168.
123,055.
128,771.
0.0
50,336.
1,244,691.
98,344.
1,146,347.
144,195.
0.0
144,195.
259,896.
1,105,905.
1,105,905.
0.0
-846009
-

(Thousand Rupees)
2008
2009
2010
2011
1,175,067.
1,181,700.
1,135,977.
1,073,395.
89,439.
78,295.
78,087.
1,572,676.
1,537,318.
1,560,696.
1,579,730.
1,175,067.
1,074,138.
1,030,470.
982,374.
63,357.
66,019.
67,711.
68,494.
0.0
0.0
0.0
18,123.
27,212.
12,934.
517,350.
493,032.
558,663.
705,060.
49,647.
2,722.
3,892.
28,910.
210,677.
180,235.
202,372.
257,878.
147,171.
208,223.
196,424.
232,515.
0.0
0.0
109,855.
101,852.
155,975.
166,757.
1,324,507.
430,664.
516,060.
580,999.
70,475.
291,409.
347,220.
374,748.
1,254,032.
139,255.
168,840.
206,251.
106,848.
1,129,723.
1,059,668.
291,583.
126,993.
983,026.
1,005,085.
0.0
0.0
19,704.
106,848.
0.0
54,583.
30,250.
261,062.
114,344.
118,912.
905,873.
1,105,905.
1,105,905.
1,105,905.
1,105,905.
1,105,905.
1,105,905.
1,105,905.
1,105,905.
0.0
0.0
-844843
-991561
-986993
-200032
0.0
-991561
-986993
-200032
0.0
-

711,436.
706,864.
4,572.
692,600.
-

1,121,549.
1,106,166.
15,383.
970,253.

1,742,804.
1,736,955.
5,849.
1,562,063.
1,339,736.
222,327.
180,741.
98,767.
50,405.
48,362.
71,001.
51,710.
39,931.
13,458.
8,714.

7,094.

88,245.

367,910.
1,244,067.
0.0
126,993.
22,416. -146560
70,475.
418,402.

1,178,580.
0.0
4,744.
347,220.

1,197,456.
261,333.
787,368.
636,081.

.39
2.97
11.27
1.03
1.08
89.63

.48
3.99
9.56
1.37
1.21
87.16

151,296.
66,639.
-

59,721.
-

1,383,579.
1,378,314.
5,265.
1,282,681.
1,009,945.
272,736.
100,898.
73,003.
42,143.
30,860.
61,393.
88,001.
83,772.
-146560
0.0
0.0
0.0
-359393

18,836.
59,721.

66,639.
-

56,225.
-93943
5,019.
0.0
0.0
404,091.
0.0
-98962
98,344.
.21
7.9
18.1
.43
.35
97.35

2011

68,593.
27,851.
5,435.
0.0
0.0

.15
6.12
13.12
.66
.39
86.51

.49
6.36
15.05
.83
1.14
92.71

2,431,136.
2,429,672.
1,464.
2,119,039.
1,818,213.
300,826.
312,097.
118,663.
61,094.
57,569.
90,020.
96,959.
74,771.
813,048.
25,680.
-

19,000.

261,333.

5.34
-6.06
-30.36
-20.
-

5.48
1.67
10.69
7.22
-

5.78
-

13.25
.8
11.54
1.11

7.68
-.75
-10.59
-.23
-1.33
1.03

8.61
1.34
.77
0.0
.02
.54

5.32

-13.2
0.0
-.45
1.18

13.65
-8.71
-78.08
-18.18

2.48
0.0
.1
1.18

.96
46.82
158.68
68.44
9.43
11.87
33.44
.1
3.56
4.1

Otsuka Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
202,755.
411,248.
202,755.
20,843.
0.0

315,261.
2,917.
81,316.
139,983.
0.0
91,045.
257,776.
57,654.
200,122.
0.0

0.0
0.0
260,240.
100,000.
100,000.
0.0
160,240.

834,308.
834,308.
0.0
588,265.

246,043.
169,666.
169,666.
6,545.
77,727.
11,737.
22,500.
0.0

260,240.
0.0
43,490.
57,654.
.55
.78
16.78
1.61
1.22
70.51

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.99
16.05
31.41
31.41
2.93
10.26
9.32
0.0
6.6
26.02
279

Financial Statement Analysis of Non Financial Sector

2007
305,666.
538,654.
305,666.
27,546.
0.0
347,114.
3,967.
151,489.
131,530.
0.0
60,128.
317,469.
56,383.
261,086.
33,333.
0.0
33,333.
301,978.
100,000.
100,000.
0.0
201,978.
-

(Thousand Rupees)
2008
2009
2010
2011
348,244.
332,082.
314,853.
288,907.
5,139.
9,581.
7,536.
616,587.
640,546.
665,041.
692,377.
348,244.
321,558.
298,736.
275,423.
40,561.
53,892.
58,712.
60,285.
0.0
0.0 0.0 5,385.
6,536.
5,948.
471,503.
478,726.
487,360.
550,513.
3,217.
2,660.
3,371.
7,940.
185,047.
216,862.
257,987.
267,400.
19,749.
172,449.
141,556.
165,661.
0.0
0.0 263,490.
86,755.
84,446.
109,512.
458,247.
429,112.
376,233.
392,173.
148,723.
150,490.
132,507.
130,424.
309,524.
278,622.
243,726.
261,749.
16,666.
37,731.
31,162.
23,425.
0.0 0.0 0.0
0.0 0.0 16,666.
37,731.
31,162.
23,425.
344,834.
343,965.
394,818.
423,822.
100,000.
100,000.
100,000.
100,000.
100,000.
100,000.
100,000.
100,000.
0.0
0.0 244,834.
243,965.
294,818.
323,822.
0.0 243,965.
294,818.
323,822.
0.0 -

991,011.
991,011.
0.0
688,229.
-

1,217,523.
1,217,523.
0.0
868,751.
-

302,782.
207,866.
-

348,772.
248,959.
-

207,866.
-

248,959.
-

8,658.

7,699.
-

100,218.
33,752.
25,000.
0.0
-

2011

100,865.
11,615.
25,000.
0.0
-

1,236,300.
1,446,477.
1,236,300.
1,446,477.
0.0 922,723.
1,051,287.
469,790.
47,948.
452,933.
1,003,339.
313,577.
395,190.
262,183.
291,780.
172,792.
203,404.
89,391.
88,376.
238,912.
272,195.
28,173.
19,963.
27,679.
19,963.
39,534.
102,981.
22,391.
45,336.
15,000. 0.0 69,752.
70,777.

1,495,255.
1,495,255.
1,141,001.
47,217.
1,093,784.
354,254.
285,858.
191,660.
94,198.
296,559.
25,515.
25,309.
69,438.
33,478.
15,000.
53,168.

335,311.
0.0
41,466.
56,383.

361,500.
0.0
64,250.
148,723.

381,696.
0.0
2,143.
150,490.

425,980.
0.0
57,645.
132,507.

447,247.
0.0
20,960.
130,424.

.43
.87
13.27
1.52
1.09
69.45

.05
.63
1.62
1.49
1.03
71.35

.41
2.28
13.95
1.52
1.12
74.64

.39
1.38
9.79
1.8
1.3
72.68

.44
1.71
11.08
1.78
1.4
76.31

1.16
17.12
35.65
33.66
2.66
6.54
-

1.38
13.7
31.19
28.95
3.57
6.58
-

10.11
0.0
6.65
30.2

8.28
0.0
8.93
34.48

1.36
4.85
11.48
10.64
1.14 5.7
2.43
3.2
.15
1.71
34.4

1.03
12.77
27.88
25.5
5.61
6.16
7.12
.17
5.76
39.48

.98
8.46
16.96
15.9
2.4
5.59
3.74
4.64
.13
3.6
42.38

Pakistan Gum & Chemicals Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
19,857.
104,178.
19,857.
3,987.
0.0

267,225.
8,806.
185,970.
29,256.
0.0
43,193.
148,412.
70,000.
78,412.
0.0

0.0
0.0
138,670.
32,186.
32,186.
0.0
106,484.

443,139.
167,127.
276,012.
375,942.

67,197.
32,654.
32,654.
5,398.
29,342.
6,300.
0.0
0.0

138,670.
0.0
23,042.
70,000.
.26
1.22
6.6
1.54
1.8
84.84

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.07
10.22
21.16
21.16
2.38
6.62
0.0
7.16
43.08
280

Financial Statement Analysis of Non Financial Sector

2007

2008
26,322.

43,887.
-

115,025.
26,322.
3,366.
0.0
-

111,092.
43,887.
3,982.
0.0
-

249,732.
15,452.
123,377.
63,370.
0.0
47,533.
139,227.
92,400.
46,827.
0.0
-

294,037.
28,592.
164,273.
75,064.
0.0
26,108.
151,014.
120,000.
31,014.
0.0
-

0.0

0.0
-

0.0
136,827.
35,405.
35,405.
0.0
101,422.
-

0.0
186,910.
42,486.
42,486.
0.0
144,424.
-

619,382.
196,994.
422,388.
555,076.
-

792,845.
234,282.
558,563.
694,077.
-

64,306.
36,212.
-

98,768.
56,085.
-

36,212.
-

56,085.
-

11,174.
-

15,999.
-

20,699.
7,363.
7,081.
0.0
-

2009

40,501.
9,018.
0.0
0.0
-

136,827.
0.0
6,255.
92,400.

186,910.
0.0
31,483.
120,000.

.57
1.8
10.23
2.24
1.79
89.62

.69
2.02
9.47
2.35
1.95
87.54

50,156.
4,425.
116,551.
44,955.
5,938.
0.0
0.0
776.
404,237.
10,406.
300,188.
52,810.
0.0
40,833.
279,104.
230,462.
48,642.
0.0
0.0
0.0
0.0
0.0
0.0
175,289.
42,486.
42,486.
0.0
132,803.
17,553.
115,250.
0.0
566,982.
185,460.
381,522.
499,680.
463,420.
36,260.
67,302.
46,845.
15,773.
31,072.
45,249.
13,045.
1,380.
10,728.
4,657.
4,249.
0.0
-90249

(Thousand Rupees)
2010
2011
50,671.
50,205.
710.
317.
124,587.
131,431.
49,185.
49,110.
6,974.
7,990.
776.
778.
267,509.
562,965.
14,344.
24,482.
142,891.
392,514.
76,606.
120,530.
3,637.
5,253.
30,031.
20,186.
196,975.
364,036.
165,000.
217,667.
31,975.
146,369.
0.0
0.0
0.0
0.0
121,205.
249,134.
42,486.
42,486.
42,486.
42,486.
78,719.
206,648.
17,553.
17,553.
61,166.
189,095.
734,117.
178,677.
555,440.
710,978.
511,116.
199,862.
23,139.
47,079.
20,434.
26,645.

1,450,778.
374,373.
1,076,405.
1,192,830.
931,201.
261,629.
257,948.
76,870.
18,313.
58,557.

20,211.
27,898.
17,620.
24,676.
-42426
156,393.
7,409.
28,464.
33,989.
103,123. -9318

175,289.
121,205.
0.0
0.0
1,822. -49835
230,462.
165,000.
.23
2.3
9.31
1.25
1.45
88.13

2011

.48
2.75
10.44
2.31
1.36
96.85

249,134.
0.0
93,940.
217,667.
.41
1.92
8.31
2.37
1.55
82.22

1.02
7.35
15.03
15.03
1.88 5.02
3.34
0.0
3.77
38.65

.81
13.19
25.02
25.02
4.83
5.11
0.0
7.41
43.99

1.59
2.71
5.92
5.92
1.43 1.89
8.77
1.89
-.32
1.43
41.26

1.63
-10.98
-28.62
-28.62
5.14
-1.41
-5.78
.52
-11.73
28.53

1.46
33.58
84.46
84.46
3.76
3.7
7.34
10.78
-.03
30.11
58.64

Pakistan PVC Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
198,556.
85,456.
63,468.
4,057.
135,088.

307,256.
276.
1,718.
0.0
0.0
305,262.
457,492.
50,514.
406,978.
0.0

0.0
0.0
48,320.
149,580.
149,580.
0.0
-101260

15,732.
15,732.
0.0
25,273.

-9541
5,472.
5,472.
28,191.
-23662
55.
0.0
0.0

48,320.
0.0
-23717
50,514.
0.0
179.2
0.0
.03
.67
160.65

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

9.47
-4.66
-226.48
-226.48
9.16
-150.41
0.0
-1.59
3.23
281

Financial Statement Analysis of Non Financial Sector

2007
490,333.
379,248.
355,245.
3,611.
135,088.
8,553.
223.
898.
6,122.
0.0
1,310.
315,906.
51,007.
264,899.
0.0
0.0
0.0
182,980.
149,580.
149,580.
0.0
33,400.
-

2008
487,267.
379,161.
352,179.
3,090.
135,088.
2,685.
52.
436.
1,492.
0.0
705.
229,988.
47,991.
181,997.
0.0
0.0
0.0
259,964.
149,580.
149,580.
0.0
110,384.
-

2009
187,795.
0.0
65,735.
56,928.
2,778.
0.0
0.0
130,867.
4,510.
46.
785.
2,249.
0.0
1,430.
243,809.
47,991.
195,818.
158.
0.0
0.0
0.0
158.
0.0
-51662
149,580.
149,580.
0.0
-368961
0.0
-368961
167,719.

16,374.
16,374.
0.0
22,978.

12,116.
12,116.
0.0
17,592.

3,751.
3,751.
0.0
25,808.
1,987.
23,821.
-22057
4,433.
1,343.
3,091.
2,112.
7,293.
7,239.
-19934
414.
0.0
0.0
-218

-6604

-5476

-19093

5,543.

9,126.
-

5,543.

9,126.
-

7,261.

7,302.
77,025.
40.
0.0
0.0

61.
0.0
0.0
-

182,980.
0.0
-19154
51,007.
.02
44.34
37.39
.03
.03
140.33

2011

(Thousand Rupees)
2010
2011
173,602.
162,680.
65,854.
67,943.
53,736.
52,664.
3,312.
3,161.
50.
119,866.
109,966.
6,740.
5,741.
225.
134.
959.
526.
3,303.
3,546.
2,253.
1,535.
253,891.
264,941.
17,752.
17,947.
236,139.
246,994.
162.
167.
162.
167.
-73711
-96687
149,580.
149,580.
149,580.
149,580.
-378391
-390009
-378391
-390009
155,100.
143,742.
5,748.
5,748.

6,510.
6,510.

25,221.
2,987.
22,234.
-19473
5,124.
1,760.
3,364.
4,108.
7,277.
7,239.
-20910
1,139.
-12157

26,910.
4,367.
22,543.
-20400
5,897.
2,488.
3,409.
5,251.
7,277.
7,239.
-21832
1,182.
-6965

-73549
-96520
259,964. -51505
0.0
0.0
0.0
0.0
-22049
-23014
76,985. -20348
47,991.
47,991.
17,752.
17,947.
.01
60.27
12.31
.02
.01
145.2

.01
194.43
59.96
.02
.02
688.03

.01
126.6
57.46
.03
.03
438.78

.01
111.78
54.47
.04
.02
413.36

1.73
-3.8
-16.51
-16.51
-

.88
15.58
34.78
34.78
-

18.23
-

27.79

-116.61
0.0
-1.28
12.23

-4.72
-5.84
-19.14
-19.13

635.73
0.0
5.15
17.38

-3.45
-11.22
33.36
33.44
-

4.78
-1.75
-531.45
0.0
-1.36
-3.45

-2.74
-12.52
25.62
25.67
-

5.99
-1.89
-363.78
-.05
-1.47
-4.93

12.38
-2.02
-335.36
-.03
-1.54
-6.46

Sanofi aventis(Aventis Pharma)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
702,001.
1,419,819.
702,001.
68,558.
0.0

1,286,001.
3,879.
797,286.
147,093.
0.0
337,743.
871,861.
267,256.
604,605.
0.0

0.0
0.0
1,116,141.
96,448.
96,448.
0.0
1,019,693.

4,150,225.
4,122,612.
27,613.
2,885,883.

1,264,342.
851,171.
851,171.
75,928.
355,568.
111,892.
68,478.
0.0

1,116,141.
0.0
175,198.
267,256.
.17
1.83
3.54
2.09
1.48
69.54

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.78
17.31
35.2
34.15
3.56
5.21
8.57
0.0
25.27
115.72
282

Financial Statement Analysis of Non Financial Sector

2007
792,008.
1,597,554.
791,082.
95,351.
926.
1,636,045.
2,102.
1,077,021.
137,920.
0.0
419,002.
1,313,929.
542,185.
771,744.
0.0
0.0
0.0
1,114,124.
96,448.
96,448.
0.0
1,017,676.
-

(Thousand Rupees)
2008
2009
2010
2011
1,195,978.
1,401,888.
1,424,415.
1,575,603.
618,974.
119,808.
249,614.
2,092,519.
1,779,908.
2,369,446.
2,456,627.
1,195,249.
774,373.
1,289,113.
1,281,457.
105,477.
129,228.
174,530.
188,096.
729.
114.
339.
28,188.
0.0 8,427.
15,155.
16,344.
1,788,377.
2,037,205.
1,924,012.
2,829,950.
2,186.
2,286.
2,110.
3,469.
1,104,944.
1,136,737.
1,148,158.
1,652,235.
151,951.
345,808.
156,547.
301,715.
0.0
0.0 529,296.
552,374.
617,197.
872,531.
1,867,743.
2,075,329.
1,368,817.
2,516,026.
872,512.
1,367,818.
238,744.
916,099.
995,231.
707,511.
1,130,073.
1,599,927.
0.0
71,315.
518,207.
288,192.
7,233.
375,000.
125,000.
0.0 0.0
0.0 0.0 0.0
64,082.
143,207.
163,192.
1,116,612.
1,292,449.
1,461,403.
1,601,335.
96,448.
96,448.
96,448.
96,448.
96,448.
96,448.
96,448.
96,448.
0.0
0.0 1,020,164.
1,196,001.
1,364,955.
1,504,887.
55,548.
74,176.
102,743.
1,140,453.
1,290,779.
1,402,144.
0.0 -

4,203,627.
4,190,221.
13,406.
3,117,555.
-

4,676,542.
4,648,737.
27,805.
3,620,719.
-

1,086,072.
872,326.
-

1,055,823.
937,154.
-

872,326.
-

937,154.
-

109,299.

87,113.
-

126,085.
35,395.
42,437.
0.0
-

2011

84,365.
47,414.
13,503.
0.0
-

6,725,708.
6,696,389.
29,319.
5,099,109.
2,327,063.
2,772,046.
1,626,599.
1,343,654.
1,048,283.
295,371.
721,007.
131,012.
122,553.
253,059.
95,708.
67,514.
0.0 -233212

6,158,295.
6,097,220.
61,075.
4,404,751.
2,737,003.
1,667,748.
1,753,544.
1,324,082.
1,094,063.
230,019.
682,304.
130,041.
126,891.
401,641.
86,526.
96,448.

7,619,460.
7,489,752.
129,708.
5,585,930.
3,501,878.
2,084,052.
2,033,530.
1,660,786.
1,398,922.
261,864.
781,728.
113,196.
108,249.
423,416.
157,739.
96,448.
-

880,332. -6649

1,114,124.
0.0
48,253.
542,185.

1,116,612.
0.0
23,448.
872,512.

1,363,764.
7,233.
89,837.
1,375,051.

1,979,610.
375,000.
218,667.
613,744.

1,889,527.
125,000.
169,229.
1,041,099.

.11
2.6
3.28
1.73
1.25
74.16

.08
1.86
3.25
1.57
.96
77.42

.17
1.95
5.14
1.96
.98
75.82

.12
2.11
2.54
1.84
1.41
71.53

.12
1.49
3.96
1.73
1.12
73.31

1.18
5.71
11.31
11.31
2.14
3.9
-

1.67
3.12
7.56
7.56
2.74
4.23
-

3.
0.0
9.4
115.52

1.8
0.0
3.83
115.77

1.66
7.88
21.01
20.4
2.33
5.92
3.06
3.76
-.11
16.31
134.

1.29
11.83
29.17
24.03
3.27
5.36
4.17
6.52
.47
32.67
151.52

1.75
10.92
27.65
21.89
2.75
4.61
4.91
5.56
0.0
27.55
166.03

Sardar Chemical Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
37,103.
113,370.
37,103.
4,619.
0.0

116,454.
3,052.
40,387.
0.0
0.0
73,015.
64,529.
52,499.
12,030.
1,650.

0.0
1,650.
87,378.
60,000.
60,000.
0.0
27,378.

107,089.
101,919.
5,170.
80,307.

26,782.
19,039.
19,039.
6,844.
949.
535.
0.0
0.0

89,028.
0.0
414.
52,499.
.05
6.39
0.0
.7
1.8
74.99

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.76
.62
1.09
1.06
2.65
.89
0.0
.07
14.56
283

Financial Statement Analysis of Non Financial Sector

2007

2008
37,618.

33,007.
-

117,691.
37,618.
5,283.
0.0
-

117,367.
33,007.
4,505.
0.0
-

125,545.
7,398.
38,807.
65,758.
0.0
13,582.
68,642.
55,199.
13,443.
4,333.
-

131,744.
3,032.
39,451.
73,414.
0.0
15,847.
71,618.
57,651.
13,967.
2,380.
-

0.0

0.0
-

4,333.
90,188.
60,000.
60,000.
0.0
30,188.
-

2,380.
90,753.
60,000.
60,000.
0.0
30,753.
-

117,550.
114,045.
3,505.
83,969.
-

125,068.
122,301.
2,767.
94,977.
-

33,581.
21,096.
-

30,091.
19,862.
-

21,096.
-

19,862.
-

7,860.

8,051.
-

4,957.
588.
1,500.
0.0
-

2009

2,316.
811.
0.0
0.0
-

34,832.
0.0
117,789.
31,447.
4,448.
0.0
0.0
3,385.
127,161.
7,684.
28,814.
73,623.
0.0
17,040.
65,764.
50,328.
15,436.
4,190.
4,190.
0.0
0.0
0.0
0.0
92,040.
60,000.
60,000.
0.0
32,040.
30,000.
2,040.
0.0

2011

(Thousand Rupees)
2010
2011
30,930.
27,511.
117,764.
117,764.
28,415.
24,996.
3,997.
3,419.
2,515.
2,515.
131,906.
131,126.
9,362.
9,284.
27,381.
36,023.
76,185.
65,776.
18,978.
20,043.
66,105.
59,920.
48,032.
41,571.
18,073.
18,349.
2,936.
3,797.
2,936.
3,797.
93,795.
94,920.
60,000.
60,000.
60,000.
60,000.
33,795.
34,920.
30,000.
30,000.
3,795.
4,920.
-

127,708.
126,632.
1,076.
94,859.
68,477.
26,383.
32,849.
20,244.
6,838.
13,406.
14,467.
10,294.
9,849.
2,568.
899.
0.0
0.0
10,922.

139,730.
137,270.
2,460.
107,706.
83,934.
23,772.
32,024.
20,833.
6,999.
13,834.
14,694.
8,544.
8,219.
2,854.
999.

4,888.

7,443.

146,760.
145,037.
1,723.
117,959.
97,727.
20,232.
28,801.
21,444.
7,087.
14,357.
15,910.
3,355.
2,972.
4,002.
1,463.
-

94,521.
0.0
2,869.
55,199.

93,133.
0.0
1,505.
57,651.

96,230.
4,190.
1,669.
54,518.

96,731.
0.0
1,855.
48,032.

98,717.
0.0
2,539.
41,571.

1.07
6.69
55.94
.72
1.83
71.43

1.07
6.44
58.7
.76
1.84
75.94

1.24
8.06
57.65
.79
1.93
74.28

1.29
6.11
54.52
.86
2.
77.08

1.25
2.29
44.82
.93
2.19
80.38

.81
3.13
5.58
5.4
2.91 3.03
4.22
0.0
.73
15.03

.82
1.41
2.56
2.47

.76
1.57
2.81
2.71

.74
1.76
3.07
2.96

4.43
1.26
2.01
.16
.28
15.34

5.1
1.35
2.04
.07
.31
15.63

3.17
1.85
0.0
.25
15.13

.67
2.49
4.24
4.1
-

4.07
2.35
2.73
.12
.42
15.82

Searle Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
769,655.
1,046,677.
726,246.
77,597.
43,409.

1,596,338.
73,925.
239,555.
904,224.
200,000.
178,634.
942,956.
237,250.
705,706.
447,586.

0.0
447,586.
975,451.
220,099.
220,099.
0.0
755,352.

3,240,419.
3,064,657.
175,762.
2,289,437.

950,982.
696,434.
696,434.
80,865.
193,512.
71,785.
33,015.
22,010.

1,423,037.
0.0
88,712.
237,250.
1.25
2.5
27.9
1.37
1.69
70.65

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.43
8.97
20.07
15.84
3.69
13.53
5.97
0.0
5.53
44.32
284

Financial Statement Analysis of Non Financial Sector

2007
787,845.
1,077,199.
687,698.
89,793.
100,147.
1,771,538.
93,762.
385,618.
1,067,121.
0.0
225,037.
1,175,336.
297,465.
877,871.
335,908.
0.0
335,908.
1,048,139.
242,109.
242,109.
0.0
806,030.
-

(Thousand Rupees)
2008
2009
2010
2011
670,447.
707,079.
817,865.
934,331.
0.0
354.
48,620.
1,108,374.
1,153,939.
1,358,979.
1,437,627.
652,897.
619,920.
740,194.
773,406.
86,455.
96,471.
93,183.
93,243.
17,550.
82,393.
69,445.
104,352.
0.0 4,766.
7,872.
7,953.
1,626,160.
1,872,052.
2,334,006.
3,053,414.
69,274.
232,053.
132,808.
167,590.
223,520.
384,931.
545,421.
850,160.
988,425.
1,043,967.
1,387,399.
1,061,501.
200,000.
0.0 144,941.
211,101.
268,378.
974,163.
963,029.
1,011,197.
1,345,027.
1,871,721.
262,650.
395,818.
385,997.
839,011.
700,379.
615,379.
959,030.
1,032,710.
210,346.
205,096.
117,795.
105,281.
106,065. 0.0 0.0
0.0 25,214.
29,187.
32,472.
210,346.
73,817.
88,608.
72,809.
1,123,232.
1,362,838.
1,689,049.
2,010,743.
266,320.
266,320.
306,268.
306,268.
266,320.
266,320.
306,268.
306,268.
0.0
0.0 856,912.
866,666.
1,175,297.
1,524,574.
119,513.
124,060.
146,818.
747,153.
1,051,237.
1,377,756.
229,852.
207,484.
179,901.

3,114,570.
2,964,947.
149,623.
2,155,732.
-

3,253,347.
3,147,068.
106,279.
2,287,526.
-

958,838.
763,506.
-

965,821.
654,077.
-

763,506.
-

654,077.
-

97,161.

112,228.
-

141,577.
64,131.
24,211.
24,211.
-

2011

253,314.
81,555.
26,632.
0.0
-

3,123,856.
2,942,109.
181,747.
1,927,370.
1,024,560.
902,810.
1,196,486.
830,419.
697,611.
132,808.
464,356.
105,080.
86,876.
325,756.
129,588.
79,896.
0.0 298,583.

4,176,468.
3,893,930.
282,538.
2,389,703.
1,429,952.
959,751.
1,786,765.
1,182,102.
1,014,855.
167,247.
507,273.
112,355.
89,641.
557,427.
194,326.
91,880.
220,117.

4,876,869.
4,606,608.
270,261.
2,817,966.
1,461,068.
1,356,898.
2,058,903.
1,291,556.
1,092,377.
199,179.
573,718.
319,387.
297,326.
563,397.
169,944.
45,940.
30,627.
295,109.

1,384,047.
0.0
53,235.
297,465.

1,333,578.
0.0
145,127.
262,650.

1,567,934.
106,065.
116,272.
501,883.

1,806,844.
0.0
271,221.
385,997.

2,116,024.
0.0
347,513.
839,011.

.99
3.12
34.26
1.22
1.51
69.21

1.31
3.45
30.38
1.42
1.69
70.31

1.26
3.36
33.42
1.21
1.85
61.7

1.13
2.69
33.22
1.33
1.74
57.22

.66
6.55
21.77
1.22
1.63
57.78

1.44
5.75
13.99
10.09
3.2
8.08
-

1.04
10.43
23.33
18.64
6.45
14.56
-

4.55
0.0
3.2
43.29

7.79
0.0
6.45
42.18

.89
13.36
26.21
22.45
2.46
8.12
4.75
10.43
.25
7.37
51.17

.87
19.45
36.53
33.03
3.95
7.66
7.22
13.35
.15
11.86
55.15

.98
15.78
30.46
28.72
8.56
5.74
2.89
11.55
.15
12.85
65.65

Shaffi Chemical Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
33,673.
72,642.
33,673.
3,064.
0.0

193,456.
466.
10,785.
0.0
14,225.
167,980.
94,573.
52,593.
41,980.
0.0

0.0
0.0
132,556.
120,000.
120,000.
0.0
12,556.

5,755.
5,755.
0.0
9,871.

-4116
1,299.
1,299.
307.
17,396.
31.
0.0
0.0

132,556.
0.0
17,365.
52,593.
.16
5.33
0.0
.03
2.05
171.52

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.71
7.61
14.22
14.22
.53
302.28
0.0
1.45
11.05
285

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
31,629.

29,061.
-

72,992.
31,629.
2,827.
0.0
-

72,992.
29,061.
2,568.
0.0
-

242,363.
114.
14,416.
557.
57,779.
169,497.
97,712.
49,992.
47,720.
0.0
-

256,693.
509.
7,012.
11,605.
54,932.
182,635.
113,224.
49,992.
63,232.
0.0
-

0.0

0.0
-

0.0
176,280.
120,000.
120,000.
0.0
56,280.
-

0.0
172,530.
120,000.
120,000.
0.0
52,530.
-

12,745.
12,745.
0.0
12,524.
-

128,624.
128,624.
0.0
100,606.
-

221.
1,992.
-

28,018.
16,925.
-

1,992.
-

16,925.
-

65.

70.
-

1,827.
92.
0.0
0.0
-

11,103.
643.
0.0
0.0
-

(Thousand Rupees)
2009
2010
114,679.
124,773.
0.0
72,992.
72,992.
26,738.
24,632.
2,324.
2,106.
0.0
87,718.
99,918.
224.
223.
209,458.
213,482.
613.
1,159.
250.
651.
20,480.
14,867.
0.0
188,115.
196,805.
72,712.
72,176.
49,992.
49,992.
22,721.
22,184.
38,798.
39,032.
0.0
37,940.
0.0
858.
0.0
39,032.
212,627.
227,047.
120,000.
120,000.
120,000.
120,000.
0.0
81,347.
96,673.
0.0
81,347.
96,673.
11,280.
10,374.

2011
122,878.
72,992.
22,722.
1,911.
99,933.
223.
17,636.
1,435.
2,110.
2,357.
11,734.
70,989.
49,992.
20,997.
12,735.
12,735.
56,790.
120,000.
120,000.
-72755
-72755
9,545.

125,501.
125,501.
0.0
105,636.
95,470.
10,166.
19,865.
12,528.
3,573.
8,956.
8,848.
30.
0.0
40,831.
0.0
0.0
0.0
262.

136,894.
136,894.

42,641.
42,641.

1,382.

26,392.

97,799.
90,246.
7,553.
39,095.
36,158.
24,897.
11,261.
14,715.
32.

29,016.
19,970.
9,046.
13,625.
183,451.
18,325.
165,126.
4,430.
17.
-

-170416

3,740.
684.

429.

176,280.
0.0
1,735.
49,992.

172,530.
0.0
10,460.
49,992.

251,424.
0.0
40,831.
49,992.

266,079.
0.0
3,056.
49,992.

69,525.
0.0
-170845
49,992.

.6
.51
4.37
.05
2.48
98.27

.59
.05
9.02
.45
2.27
78.22

.29
.02
16.32
.39
2.88
84.17

.22
.02
10.86
.4
2.96
71.44

.05
.04
5.53
.3
.25
68.05

.55
.73
1.18
1.18
-

.66
3.97
6.37
6.37
-

.88
-

.49
1.13
1.7
1.45

501.54

210.28

32.53
0.0
3.4
17.72

2.73
.01
.25
18.92

18.34

14.34
0.0
.14
14.69

.52
13.39
21.2
19.26

8.63
0.0
.87
14.38

1.47
-71.19
-120.08
-101.56
20.21
-

-399.65
.32
-14.24
4.73

Sitara Chemical Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,454,742.
4,858,301.
3,454,742.
156,949.

1,915,733.
400,982.
407,042.
353,050.
15,384.
739,275.
2,249,002.
899,457.
1,349,545.
1,463,581.

1,108,874.
354,707.
1,657,892.
185,586.
185,586.
1,472,306.

4,383,298.
4,383,298.
3,678,180.

705,118.
333,290.
333,290.
23,453.
358,222.
1,013.
111,322.

3,121,473.
1,108,874.
245,887.
2,008,331.
.34
.54
8.05
.82
.85
83.91

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.24
7.97
22.73
13.6
3.21
10.77
8.17
0.0
19.25
89.33
286

Financial Statement Analysis of Non Financial Sector

2007
4,220,212.
5,864,276.
4,220,212.
260,033.
0.0
0.0
2,164,359.
252,695.
441,676.
561,087.
82,795.
826,106.
2,596,401.
222,628.
2,373,773.
1,865,953.
1,646,875.
219,078.
1,922,217.
185,536.
185,536.
0.0
0.0
1,736,681.
-

(Thousand Rupees)
2008
2009
2010
2011
4,824,079.
7,970,083.
8,530,981.
8,001,028.
286,017.
186,189.
984,852.
6,684,164.
7,116,722.
8,157,033.
8,367,317.
4,824,079.
4,851,602.
5,489,389.
5,210,179.
416,078.
412,745.
435,158.
499,888.
0.0
0.0 2,782,841.
85,509.
96,480.
49,623.
2,769,894.
1,709,517.
3,969,314.
2,143,328.
1,779,477.
3,262,718.
240,943.
294,165.
142,970.
140,777.
526,916.
773,762.
502,292.
885,083.
563,788.
663,921.
433,457.
512,398.
1,352,350.
0.0 1,285,317.
411,481.
700,758.
1,724,460.
3,453,388.
2,343,211.
2,128,504.
3,731,902.
268,280.
540,091.
1,447,808.
2,223,034.
3,185,108.
1,803,120.
680,696.
1,508,868.
1,797,673.
3,801,664.
3,876,983.
2,824,812.
2,785,752.
2,735,240.
1,810,243.
0.0 0.0
0.0 5,206. 1,797,673.
1,010,706.
1,141,743.
1,014,569.
3,542,332.
3,968,537.
4,304,971.
4,707,032.
204,090.
204,090.
204,090.
214,294.
204,090.
204,090.
204,090.
214,294.
0.0
0.0 3,338,242.
2,757,899.
3,131,101.
3,572,116.
86,770.
97,490.
97,490.
2,671,130.
3,033,611.
3,474,626.
1,006,548.
969,780.
920,622.

5,043,078.
4,989,739.
53,339.
3,958,698.

0.0
-

6,355,398.
6,292,239.
63,159.
4,800,113.
-

1,084,380.
259,512.
-

1,555,285.
330,701.
-

259,512.
-

330,701.
-

317,624.

368,095.
-

536,916.
21,874.
102,044.
18,537.

0.0
-

2011

919,300.
320,947.
153,068.
0.0
-

6,178,399.
5,735,796.
6,103,027.
5,735,796.
75,372. 4,216,644.
4,197,071.
1,291,999.
1,138,194.
2,924,645.
3,058,877.
1,961,755.
1,538,725.
387,555.
346,044.
68,292.
62,952.
319,263.
283,092.
393,100.
316,684.
604,981.
610,111.
596,474. 987,894.
609,962.
303,228.
86,362.
153,067.
51,023.
0.0
10,205.
359,439.
267,998.

6,216,880.
6,216,880.

4,663,239.
1,673,402.
2,989,837.
1,553,641.
383,139.
123,094.
260,045.
324,869.
694,926.
518,229.
218,293.
133,934.
1,255,360.

3,788,170.
1,646,875.
412,998.
1,869,503.

5,340,005.
0.0
445,285.
268,280.

7,770,201.
2,785,752.
531,599.
3,325,843.

8,181,954.
2,735,240.
472,578.
4,183,048.

7,531,844.
1,810,243.
166,002.
4,033,277.

.35
6.3
11.13
.79
.83
78.5

.62
5.79
8.87
.72
1.15
75.53

.41
9.79
10.75
.61
.91
68.25

.27
10.64
7.56
.56
.84
73.17

.18
11.18
8.24
.55
.87
75.01

2.32
9.14
29.99
15.54
5.05
11.42
-

1.48
12.11
33.65
20.14
3.91
12.06
-

10.65
0.0
27.76
103.6

14.46
0.0
29.32
173.57

1.55
10.45
26.31
15.07
4.47
7.98
2.66 15.99
.06
33.55
194.45

1.4
5.97
14.74
7.65
10.26
11.42

1.39
4.8
11.5
6.6
2.24
7.02

10.63
.04
25.66
210.93

8.34
.19
14.
219.65

Sitara Peroxide Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

287

Financial Statement Analysis of Non Financial Sector

2011

2007
-

2008
-

(Thousand Rupees)
2009
2010
2011
2,394,479.
2,263,653.
2,252,558.
157,666.
7,375.
142,884.
2,384,410.
2,567,467.
2,585,464.
2,228,698.
2,252,573.
2,105,969.
105,239.
161,222.
165,387.
0.0
0.0
8,115.
3,705.
3,705.
572,625.
457,794.
622,855.
6,670.
4,335.
18,739.
343,495.
254,687.
377,672.
48,651.
29,822.
24,373.
0.0
173,809.
168,950.
202,071.
725,797.
625,265.
791,412.
523,365.
47,896.
196,227.
202,432.
577,369.
595,185.
1,321,594.
1,355,614.
1,177,182.
1,223,175.
1,353,196.
1,174,342.
0.0
0.0
932.
97,487.
2,418.
2,840.
919,713.
740,568.
906,819.
551,000.
551,000.
551,000.
551,000.
551,000.
551,000.
0.0
-181635
-331307
-133210
0.0
-181635
-331307
-133210
550,348.
520,875.
489,029.

628,523.
714,986.
1,289,332.
622,727.
706,916.
1,253,012.
5,796.
8,070.
36,320.
525,874.
694,845.
785,848.
157,277.
251,914.
256,676.
368,598.
442,931.
529,172.
102,648.
20,141.
503,484.
44,762.
49,239.
71,337.
13,131.
13,502.
19,903.
31,631.
35,737.
51,434.
38,183.
49,572.
56,363.
245,934.
243,270.
253,263.
237,349.
192,913.
194,568.
-188047
-272888
179,435.
41.
3,744.
13,183.
0.0
0.0
-234448
-10446
154,500.

2,241,307.
2,096,182.
1,223,175.
1,353,196.
-188088
-276632
1,746,540.
1,401,092.

.08
39.13
7.74
.21
.79
83.67

.05
34.02
4.17
.26
.73
97.18

2,084,001.
1,174,342.
166,252.
1,370,569.
.05
19.64
1.89
.45
.79
60.95

2.23
-6.34
-20.45
-8.39

2.67
-9.59
-32.87
-12.58
-

1.83
.21
-29.92
-.11
-3.41
16.69

2.17
6.41
21.78
8.59
-

2.81
-.41
-38.17
-.01
-5.02
13.44

3.41
1.92
13.92
.08
3.02
16.46

United Distributors Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
12,862.
31,802.
12,862.
4,791.
0.0

235,630.
5,776.
92,014.
3,644.
26,394.
107,802.
151,490.
27,431.
124,059.
4,189.

0.0
4,189.
92,813.
72,600.
72,600.
0.0
20,213.

130,764.
130,764.
0.0
110,197.

20,567.
60,849.
60,849.
4,283.
-11341
60.
0.0
0.0

97,002.
0.0
-11401
27,431.
.24
3.28
2.79
.53
1.56
84.27

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.68
-5.25
-11.51
-11.16
1.42
-8.67
0.0
-1.57
12.78
288

Financial Statement Analysis of Non Financial Sector

2007

2008
32,338.

39,574.
-

53,712.
32,338.
1,589.
0.0
-

65,087.
39,574.
8,924.
0.0
-

293,721.
10,213.
128,294.
15,148.
26,394.
113,672.
216,630.
26,484.
190,146.
13,767.
-

470,796.
3,279.
271,236.
4,346.
149,305.
42,630.
371,733.
48,083.
323,650.
7,113.
-

0.0

0.0
-

13,767.
95,662.
72,600.
72,600.
0.0
23,062.
-

7,113.
131,524.
72,600.
72,600.
0.0
58,924.
-

311,096.
311,096.
0.0
252,114.
-

656,785.
656,785.
0.0
542,075.
-

58,982.
87,419.
-

114,710.
129,481.
-

87,419.
-

129,481.
-

10,304.

12,254.
-

3,547.
1,372.
0.0
0.0
-

22,307.
3,998.
0.0
10,890.
-

109,429.
0.0
2,175.
26,484.

138,637.
0.0
18,309.
48,083.

.24
3.31
4.87
.95
1.36
81.04

.42
1.87
.66
1.29
1.27
82.53

2009
278,101.
0.0
65,087.
82,305.
13,490.
0.0
191,319.
4,477.
435,307.
29,883.
353,480.
3,218.
0.0
48,726.
450,178.
24,197.
425,981.
53,461.
37,805.
0.0
0.0
3,471.
12,185.
209,769.
83,490.
83,490.
0.0
126,279.
0.0
126,279.
0.0
773,324.
773,324.
0.0
585,932.
413,065.
172,867.
187,392.
178,746.
158,125.
20,621.
67,049.
19,832.
5,814.
84,593.
9,635.
8,349.
8,349.
72,897.

2011

(Thousand Rupees)
2010
2011
347,692.
321,119.
167,056.
154,642.
117,010.
89,453.
23,115.
29,817.
600.
224,408.
225,533.
6,274.
5,533.
587,591.
452,954.
46,321.
6,638.
453,228.
399,073.
20,687.
12,389.
67,355.
34,854.
702,518.
678,603.
94,107.
98,027.
608,411.
580,576.
62,749.
22,081.
5,494.
5,560.
57,255.
16,521.
170,016.
73,389.
91,839.
91,839.
91,839.
91,839.
78,177. -18450
78,177. -18450
1,143,401.
1,143,401.

1,020,239.
1,020,239.

928,826.
816,007.
718,199.
423,717.
210,627.
392,290.
214,575.
204,232.
286,093.
273,292.
261,109.
249,044.
24,984.
24,248.
112,014.
119,861.
41,191.
53,636.
5,294.
19,178.
-19212
-99396
5,717.
8,754.
-21184
-26335

263,230.
232,765.
95,470.
37,805.
0.0
0.0
-108150
66,609. -24929
62,002.
94,107.
98,027.
.07
2.56
.42
1.08
.97
75.77

.1
3.6
1.81
1.22
.84
81.23

.03
5.26
1.21
1.32
.67
79.98

2.41
1.23
3.76
3.44
-

2.88
5.33
19.64
17.98
-

2.42
-

2.42
-

1.14
0.0
.3
13.18

3.4
0.0
2.52
18.12

2.4
13.82
49.57
42.1
8.98 2.19
15.55
10.94
.14
8.98
25.13

4.5
-2.33
-10.12
-7.75

9.55
-11.63
-81.67
-60.56

2.52
-2.63
-1.68
-.03
-2.71
18.51

2.56
-4.18
-9.74
-.04
-11.78
7.99

Wah Nobel Chemicals Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
122,532.
219,717.
122,532.
6,426.
0.0

290,177.
8,854.
46,329.
144,388.
25,000.
65,606.
180,909.
99,986.
80,923.
18,750.

0.0
18,750.
213,050.
90,000.
90,000.
0.0
123,050.

643,584.
643,584.
0.0
565,477.

78,107.
34,120.
34,120.
14,325.
34,747.
6,700.
18,000.
0.0

231,800.
0.0
10,047.
99,986.
.99
2.23
22.43
1.56
1.6
87.86

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.94
8.52
16.56
14.6
1.56
13.89
5.4
0.0
3.12
23.67
289

Financial Statement Analysis of Non Financial Sector

2007
117,470.
221,748.
117,470.
6,278.
0.0
308,866.
30,576.
57,345.
157,117.
25,703.
38,125.
211,209.
104,434.
106,775.
0.0
0.0
0.0
215,127.
90,000.
90,000.
0.0
125,127.
-

(Thousand Rupees)
2008
2009
2010
2011
109,852.
142,618.
138,315.
136,067.
0.0 222,933.
109,852.
229,759.
229,778.
109,852.
110,111.
105,209.
100,181.
7,420.
6,500.
8,070.
5,047.
0.0
0.0 32,507.
33,106.
35,886.
0.0
0.0
0.0
460,246.
399,766.
358,411.
385,464.
9,405.
18,653.
24,373.
71,904.
117,445.
50,339.
51,423.
37,284.
247,918.
283,805.
241,500.
230,111.
31,405.
2,647.
2,671.
2,680.
54,073.
44,322.
38,444.
43,485.
270,978.
176,566.
103,584.
109,815.
87,091.
60,537.
662.
183,887.
116,029.
102,922.
109,815.
0.0
14,693.
11,025.
10,305.
0.0 0.0 0.0
0.0 0.0 0.0
14,693.
11,025.
10,305.
299,120.
351,126.
382,117.
401,411.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
0.0
0.0 209,120.
261,126.
292,117.
311,411.
944.
944.
944.
260,182.
291,173.
310,467.
0.0 -

571,528.
571,528.
0.0
490,393.
-

715,258.
715,258.
0.0 490,092.
417,785.
72,307.
225,166.
62,558.
33,633.
28,925.
40,779.
19,701.
18,241.
146,059.
51,799.
45,000.
0.0 89,676.

712,677.
712,677.

104,434.

299,120.
0.0
107,514.
87,091.

1.01
3.01
27.49
1.34
1.46
85.8

1.07
1.7
30.6
1.42
1.7
72.63

810,196.
810,196.
0.0
588,474.
-

81,135.
37,123.
-

221,722.
64,229.
-

37,123.
-

64,229.
-

17,203.

13,737.
-

29,503.
12,257.
18,000.
0.0
-

152,514.
0.0
45,000.
0.0
-

215,127.
0.0
-754

2011

698,678.
698,678.
-

527,201.
467,898.
59,303.
185,476.
66,880.
37,364.
29,516.
34,871.
7,198.
6,809.
117,002.
44,798.
45,000.

546,766.
491,580.
55,186.
151,912.
53,089.
34,633.
18,456.
37,115.
4,371.
3,917.
97,843.
34,648.
45,000.

113,486.

92,671.

365,819.
0.0
49,260.
60,537.

393,142.
0.0
27,204.
662.

411,716.
0.0
18,195.
0.0

1.73
2.75
39.68
1.32
2.26
68.52

2.59
1.01
33.89
1.43
3.46
73.97

2.77
.63
32.94
1.34
3.51
78.26

.98
7.03
13.78
13.2
.96
9.97
-

.91
30.61
59.32
59.32
3.39
6.9
-

5.16
0.0
1.92
23.9

18.82
0.0
16.95
33.24

.54
26.26
44.92
43.93
2.09
14.21
9.01
20.42
.47
10.47
39.01

.3
22.52
31.91
30.83
1.6
13.86
18.18
16.42
.99
8.02
42.46

.3
19.22
24.97
24.31
1.4
18.74
25.98
14.
.77
7.02
44.6

Wyeth Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
179,707.
402,804.
179,707.
22,631.

1,507,341.
25,506.
610,803.
109,399.
575,000.
186,633.
409,001.
409,001.

1,278,047.
142,161.
142,161.
1,135,886.

2,013,481.
1,842,389.
171,092.
1,256,376.

757,105.
425,537.
425,537.
845.
392,145.
119,180.
92,405.

1,278,047.
180,560.

1.74
.04
5.43
1.19
3.69
62.4

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.32
25.25
33.3
33.3
2.95
3.3
19.48
0.0
192.01
899.01
290

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0
0.0
0.0
0.0

0.0
-

2007
217,458.
455,508.
217,458.
25,207.
0.0
1,607,276.
51,993.
563,189.
138,572.
720,000.
133,522.
413,281.
0.0
413,281.
0.0
0.0
0.0
1,411,453.
142,161.
142,161.
0.0
1,269,292.
-

(Thousand Rupees)
2008
2009
2010
2011
226,632.
193,721.
161,701.
154,852.
0.0
159.
2,090.
466,652.
391,738.
395,728.
410,159.
226,632.
179,681.
144,728.
132,874.
33,956.
33,537.
39,261.
27,704.
0.0
0.0
0.0
14,040.
16,814.
19,888.
1,282,920.
1,258,573.
1,391,209.
1,569,362.
50,911.
35,648.
756,391.
800,768.
828,388.
1,246,265.
242,804.
277,447.
50,431.
44,300.
87,000.
0.0
145,814.
144,710.
512,390.
209,000.
378,700.
464,793.
544,087.
553,830.
0.0
0.0
378,700.
464,793.
544,087.
553,830.
0.0
5,238.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
5,238.
0.0
1,130,852.
982,263.
1,008,823.
1,170,384.
142,161.
142,161.
142,161.
142,161.
142,161.
142,161.
142,161.
142,161.
0.0
0.0
988,691.
840,102.
866,662.
1,028,223.
0.0
840,102.
866,662.
1,028,223.
0.0
-

2,170,192.
2,005,672.
164,520.
1,434,932.
-

2,306,323.
2,105,782.
200,541.
1,805,262.
1,038,556.
766,706.
501,061.
544,076.
332,283.
211,793.
344,712.
3,752.
0.0
-31593
58,083.
0.0
0.0
-12768

2,310,191.
2,182,251.
127,940.
1,829,653.
984,031.
845,622.
480,538.
454,274.
340,214.
114,060.
367,589.
3,014.
2,158.
43,229.
28,439.
14,216.

1,411,453.
1,130,852.
987,501.
0.0
0.0
0.0
-89676
152,914. -207015
0.0
0.0
0.0

1,008,823.

2,490,972.
2,318,685.
172,287.
1,786,322.
-

735,260.
447,382.
-

704,650.
541,244.
-

447,382.
-

541,244.
-

861.

0.0
0.0

1,106.
-

359,067.
98,964.
107,189.
0.0

0.0
-

229,089.
80,702.
355,402.
0.0
-

2.2
.04
6.39
1.19
3.89
66.12

2011

1.01
.04
9.75
1.65
3.39
71.71

.67
.16
12.03
1.59
2.71
78.27

3,053,934.
2,894,494.
159,440.
2,254,547.
1,309,676.
944,871.
799,387.
539,814.
411,659.
128,155.
379,465.
870.
298,632.
89,569.
56,864.

210,669. -141266

574.

.09
.13
2.18
1.49
2.56
79.2

1,170,384.
0.0
152,199.
0.0
.21
.03
1.45
1.77
2.83
73.82

69,797.

.29
20.45
26.7
26.7
2.43
3.85
-

16.55
0.0
182.96
992.86

.33
13.74
18.02
18.02
.42 3.29
9.2
0.0
104.38
795.47

.48
-2.13
-2.99
-2.98
2.88
-1.37
-.03
-6.31
69.1

.54
2.88
4.34
4.33
1.04
2.79
21.03
1.87
.39
10.4
709.63

.47
18.23
27.41
27.41
3.68
2.45
9.78
-.26
147.06
823.28

0.0
0.0

0.0
0.0

OTHER MANUFACTURING N.E.S.

N.E.S.

Other Manufacturing n.e.s. - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
21,856,012.
34,557,280.
21,780,621.
1,983,887.
75,391.

28,340,830.
2,441,223.
14,689,463.
4,286,452.
2,727,952.
4,195,740.
22,302,476.
9,773,831.
12,528,645.
6,333,024.

147,753.
6,185,271.
21,561,342.
7,475,247.
7,475,247.
0.0
14,086,095.

96,855,704.
92,582,947.
4,272,757.
80,319,341.

16,536,363.
8,258,867.
8,258,867.
1,079,301.
7,969,948.
2,238,205.
3,292,016.
447,849.

27,894,366.
147,753.
2,439,727.
9,921,584.
.42
1.11
4.43
1.93
1.27
82.93

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.33
16.93
40.26
30.37
1.74
6.59
8.23
0.0
7.67
28.84
293

Financial Statement Analysis of Non Financial Sector

2011

2007
27,342,336.
41,982,867.
27,329,814.
2,326,237.
12,522.
33,656,128.
2,781,152.
16,420,166.
5,480,691.
4,615,614.
4,358,505.
26,066,926.
10,151,302.
15,915,624.
7,413,782.
73,652.
7,340,130.
27,517,756.
7,912,226.
7,912,226.
0.0
19,605,530.
-

(Thousand Rupees)
2008
2009
2010
2011
30,352,045. 41,947,654. 55,683,563. 56,362,149.
5,523,297.
9,207,560.
5,531,751.
46,252,398. 51,333,903. 62,991,090. 68,570,085.
30,321,942. 33,159,291. 41,597,715. 45,346,430.
2,461,279.
2,704,966.
3,356,843.
3,817,551.
30,103.
61,138.
85,734.
90,601.
2,122,425.
3,175,380.
3,748,845.
1,081,503.
1,617,174.
1,644,522.
40,706,183. 40,842,467. 53,489,505. 62,405,872.
1,454,147.
2,983,264.
2,894,678.
2,851,531.
23,360,531. 24,744,468. 33,772,390. 38,352,734.
5,437,920.
6,145,919.
7,815,558.
8,623,733.
3,460,003.
1,184,379.
1,473,701.
1,117,098.
6,993,582.
5,784,437.
7,533,178. 11,460,776.
33,893,368. 33,953,814. 44,872,470. 54,837,275.
13,531,866. 10,905,433. 20,521,259. 26,813,336.
20,361,502. 23,048,381. 24,351,211. 28,023,939.
7,563,573. 11,674,616. 16,578,832. 13,480,835.
5,468,344.
8,964,483.
7,469,847.
122,000.
195,999.
501,031.
0.0
787,442.
787,442.
787,442.
196,868.
221,287.
343,163.
7,563,573.
5,099,962.
6,409,621.
4,379,352.
29,601,287. 37,161,691. 47,721,766. 50,449,911.
8,236,856.
9,285,477. 10,202,057. 10,123,922.
8,236,856.
9,285,477. 10,202,057. 10,123,922.
0.0
0.0
0.0
21,364,431. 19,251,399. 26,770,101. 29,781,595.
322,648.
535,768.
2,412,909.
18,928,751. 26,234,333. 27,368,686.
8,624,815. 10,749,608. 10,544,394.

112,011,012.
107,262,058.
4,748,954.
92,607,022.
19,403,990.
9,191,426.
9,191,426.
1,404,664.
10,176,890.
2,671,183.
2,638,035.
238,463.
-

133,815,977.
127,396,203.
6,419,774.
111,918,877.
21,897,100.
11,425,344.
11,425,344.
1,688,601.
9,668,115.
2,793,049.
4,110,801.
383,165.
-

34,931,538.
73,652.
4,867,672.
10,224,954.

37,164,860.
0.0
2,764,265.
13,531,866.

48,836,306.
6,255,786.
1,924,509.
17,161,219.

64,300,598.
9,751,925.
3,498,921.
30,273,184.

63,930,746.
8,257,289.
988,853.
35,070,625.

.49
1.25
4.89
1.84
1.29
82.68

.31
1.26
4.06
1.88
1.2
83.64

.3
2.34
6.5
1.14
1.2
74.44

.27
1.78
6.44
1.11
1.19
78.26

.23
2.3
6.44
1.13
1.14
80.82

94,507,197. 121,270,978. 133,815,812.

88,311,701. 107,545,233. 117,150,718.
6,195,496. 13,725,745. 16,665,094.
70,352,065. 94,902,799. 108,145,353.
50,835,192. 64,866,437. 76,388,684.
19,516,873. 30,036,362. 31,756,669.
24,155,132. 26,368,179. 25,670,459.
13,383,940. 16,776,885. 18,907,123.
8,393,937.
9,945,506.
9,932,379.
4,990,003.
6,831,379.
8,974,744.
7,878,314.
9,785,088. 12,076,608.
2,213,131.
2,162,108.
3,080,435.
1,694,143.
1,618,231.
2,568,637.
9,379,188.
9,256,123.
5,780,086.
3,332,128.
3,112,058.
2,465,656.
4,122,551.
2,645,144.
2,325,577.
523,293.
4,170,925.
61,386.
10,555,638.
1,787,190.
961,771.

0.0

1.22
18.3
41.47
32.4
2.85
6.82
-

1.4
14.64
33.85
26.82
1.67
5.73
-

9.09
0.0
9.49
34.78

7.22
0.0
8.47
36.47

1.23
12.19
28.1
21.81
1.47
3.82
6.54
9.92
.23
6.51
40.02

1.29
9.64
21.81
16.36
2.32
3.59
6.72
7.63
.03
6.02
46.78

1.35
5.07
11.78
9.02
1.43
3.49
3.25
4.32
.01
3.45
52.49

Growth with Composition of Assets & L

70
60

16.7%

50
40
1.2%
Billion Rs

30
20
10
0
Non-Current Assets
Current Assets
2010

Growth & Composition of Operations

160
140
120
100
Billion Rs

10.3%

80
60
40
20
0
Sales

Profitability/Efficiency Ratios
25
21.81
20
15

9.64

Percentage 10
5

5.07

16.36
11.78
9.02

0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilites

22.2%

-18.7%
Current Liabilities

Non-Current Shareholders Equity

Liabilities
Growth

2011

omposition of Operations
2009

2010

-2.6%

-37.6%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

7.63
2009
2010

8
7
6
5
4
Percentage 3
2
1

1.19 1.14

1.29 1.35

Current

Debt 2009

Ratio

Equity
Ratio

0
Net 2010
Profit
Margin

2,500.%
2,000.%
1,500.%
1,000.%
5.7% 500.%
0.0%
-500.%
-1,000.%
-1,500.%
-2,000.%
-2,500.%

Growth
2,000.%
1,000.%
0.0%
-1,000.%
-2,000.%
-3,000.%
-4,000.%

6.02
4.32
3.45

Earning
Per Share
after Tax

Al-Khair Gadoon Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
47,342.
96,645.
47,342.
3,795.
0.0

164,034.
1,913.
73,907.
20,744.
29,995.
37,475.
78,036.
20,544.
57,492.
0.0

0.0
0.0
133,340.
100,000.
100,000.
0.0
33,340.

179,827.
179,827.
0.0
155,645.

24,182.
20,358.
20,358.
1,156.
7,289.
1,513.
0.0
0.0

133,340.
0.0
5,776.
20,544.
.67
.64
11.54
.85
2.1
86.55

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.59
3.62
5.52
5.52
2.43
4.05
0.0
.58
13.33
295

Financial Statement Analysis of Non Financial Sector

2007

2008
50,880.

49,380.
-

104,784.
50,880.
5,052.
0.0
-

107,341.
49,380.
5,139.
0.0
-

203,261.
2,179.
107,330.
28,430.
29,995.
35,327.
111,749.
39,779.
71,970.
2,743.
-

230,928.
942.
123,303.
34,515.
30,596.
41,572.
139,568.
48,386.
91,182.
962.
-

0.0

0.0
-

2,743.
139,649.
100,000.
100,000.
0.0
39,649.
-

962.
139,778.
100,000.
100,000.
0.0
39,778.
-

275,239.
275,239.
0.0
238,284.
-

259,718.
259,718.
0.0
223,792.
-

36,955.
38,325.
-

35,926.
30,812.
-

38,325.
-

-2208

30,812.
-

4,457.

1,816.
8,679.
1,785.
10,000. 0.0

1,376.
0.0
0.0
-

2009

142,392.
140,740.
0.0
0.0
-3584
-3106
39,779.
48,386.
.54
1.62
10.33
1.08
1.82
86.57

.47
.7
13.29
.93
1.65
86.17

82,369.
0.0
107,340.
51,611.
4,878.
0.0
29,995.
763.
198,603.
1,262.
130,085.
33,271.
0.0
33,985.
126,451.
25,978.
100,473.
11,370.
1,020.
0.0
0.0
3,892.
6,458.
143,151.
100,000.
100,000.
0.0
43,151.
25,000.
18,151.
0.0

2011

(Thousand Rupees)
2010
2011
69,197.
76,288.
0.0
4,200.
114,081.
118,137.
53,550.
56,528.
5,731.
7,205.
0.0
0.0
14,995.
14,995.
652.
565.
224,305.
359,805.
3,159.
2,003.
85,534.
211,843.
74,125.
44,666.
0.0
0.0
61,487.
101,293.
127,389.
261,982.
103,138.
127,503.
24,251.
134,479.
14,455.
17,330.
2,108.
1,235.
0.0
0.0
0.0
0.0
4,660.
5,593.
7,687.
10,502.
151,658.
156,781.
100,000.
100,000.
100,000.
100,000.
0.0
0.0
51,658.
56,781.
25,000.
25,000.
26,658.
31,781.
0.0
0.0

232,063.
232,063.
0.0
197,492.
191,191.
6,301.
34,571.
28,099.
0.0
28,099.
4,243.
1,975.
1,598.
9,843.
535.

523,685.
540,467.
523,685.
540,467.
0.0
0.0
444,512.
451,582.
391,699.
503,577.
52,813. -51995
79,173.
88,885.
71,465.
73,189.
31,515.
37,314.
39,950.
35,875.
9,711.
10,804.
1,227.
3,153.
875.
2,408.
12,862.
13,341.
3,127.
5,405.
0.0
10,000.
0.0
0.0
0.0
-3921
23,313. -15528

154,521.
1,020.
9,308.
26,998.
.27
.85
14.34
.83
1.57
85.1

166,113.
174,111.
2,108.
1,235.
9,735. -2064
105,246.
128,738.
.61
.23
14.15
1.78
1.76
84.88

.18
.58
8.26
1.24
1.37
83.55

.82
-.95
-1.62
-1.6
-

1.01
3.25
6.21
6.13
.69 2.11

2.56

-.8
0.0
-.36
13.96

3.34
0.0
.69
13.98

.96
3.51
6.96
6.67

.94
4.48
8.73
8.02

1.78
7.16
4.24
.17
.93
14.32

6.12
15.7
2.46
-.11
.97
15.17

1.78
3.66
8.65
7.84
-

.79
2.55
6.54
2.47
-.01
.79
15.68

Bata Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
332,726.
850,017.
332,726.
39,007.
0.0

1,082,005.
82,833.
716,738.
129,434.
22,136.
130,864.
717,168.
0.0
717,168.
0.0

0.0
0.0
697,563.
75,600.
75,600.
0.0
621,963.

3,309,648.
3,118,539.
191,109.
2,196,827.

1,112,821.
920,065.
920,065.
33,151.
166,820.
64,712.
0.0
0.0

697,563.
0.0
102,108.
0.0
.33
1.
3.91
2.34
1.51
66.38

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.03
12.
24.11
24.11
4.62
5.04
0.0
13.51
92.27
296

2011

Financial Statement Analysis of Non Financial Sector

2007
409,363.
967,934.
409,363.
39,007.
0.0
1,463,648.
247,713.
769,996.
243,079.
23,848.
179,012.
899,971.
0.0
899,971.
0.0
0.0
0.0
973,040.
75,600.
75,600.
0.0
897,440.
-

2008
548,222.
1,138,879.
548,222.
66,134.
0.0
1,728,714.
88,952.
1,274,289.
94,518.
30,650.
240,305.
841,241.
0.0
841,241.
0.0
0.0
0.0
1,435,695.
75,600.
75,600.
0.0
1,360,095.
-

2009
652,739.
1,921.
1,230,665.
580,402.
82,270.
35,830.
34,586.
2,577,448.
461,249.
1,281,862.
23,735.
350,000.
460,602.
1,147,336.
1,147,336.
122,124.
0.0
69,196.
52,928.
1,960,727.
75,600.
75,600.
0.0
1,885,127.
483.
1,884,644.
-

(Thousand Rupees)
2010
2011
717,753.
817,850.
1,352.
889.
1,352,112.
1,516,158.
629,402.
732,806.
86,593.
96,562.
9,960.
10,503.
37,823.
36,594.
39,216.
37,058.
3,459,297.
3,808,438.
539,039.
430,818.
1,527,032.
2,247,616.
22,325.
130,112.
500,000.
100,000.
870,901.
899,892.
1,300,867.
1,198,488.
0.0
1,300,867.
1,198,488.
134,883.
150,010.
0.0
0.0
0.0
74,211.
79,262.
60,672.
70,748.
2,741,300.
3,277,790.
75,600.
75,600.
75,600.
75,600.
0.0
0.0
2,665,700.
3,202,190.
483.
483.
2,665,217.
3,201,707.
0.0

4,271,888.
4,085,708.
186,180.
2,634,835.

5,521,106.
5,347,171.
173,935.
3,356,960.

6,428,490.
6,220,863.
207,627.
3,756,277.
1,765,904.
1,990,373.
2,672,213.
1,836,646.
1,367,249.
469,397.
849,876.
35,183.
5,255.
813,022.
220,450.
90,720.
0.0
905,457.

8,329,829.
9,816,296.
8,206,440.
9,658,350.
123,389.
157,946.
4,997,901.
6,275,619.
2,314,351.
2,999,885.
2,683,550.
3,275,734.
3,331,928.
3,540,677.
2,158,219.
2,507,009.
1,597,220.
1,831,314.
560,999.
675,695.
989,665.
1,042,748.
39,735.
51,206.
4,671.
6,023.
1,189,021.
1,025,008.
317,728.
253,151.
211,680.
151,200.
0.0
0.0
466,528. -95575

1,637,053.
1,114,855.

2,164,146.
1,486,159.
-

1,114,855.
-

1,486,159.
-

23,394.

27,273.
-

503,999.
137,302.
60,480.
0.0
-

663,822.
173,302.
60,480.
0.0
-

973,040.
0.0
306,217.
0.0

1,435,695.
0.0
430,040.
0.0

2,082,851.
0.0
501,852.
0.0

2,876,183.
0.0
659,613.
0.0

3,427,800.
0.0
620,657.
0.0

.57
.55
5.69
2.28
1.63
61.68

.25
.49
1.71
2.42
2.05
60.8

.73
.55
.37
1.99
2.25
58.43

.82
.48
.27
1.99
2.66
60.

.55
.52
1.33
2.12
3.18
63.93

.92
30.66
60.34
60.34
6.06
5.55

.59
31.99
55.12
55.12
8.11
4.33
-

11.8
0.0
48.5
128.71

12.02
0.0
64.88
189.91

.65
29.53
47.88
46.21
6.53
5.01
155.71
12.65
.71
78.38
259.36

.52
32.1
50.57
47.95
4.12
5.45
255.55
14.27
.32
115.25
362.61

.41
23.29
34.06
32.52
5.1
4.37
171.18
10.44
-.07
102.1
433.57

Crescent Steel & Allied Products Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,340,695.
2,074,427.
1,339,589.
97,396.
1,106.

2,374,054.
15,758.
468,519.
75,147.
1,312,551.
502,079.
1,128,737.
876,943.
251,794.
548,314.

147,753.
400,561.
2,037,698.
349,959.
349,959.
0.0
1,687,739.

1,859,259.
1,859,259.
0.0
1,718,930.

140,329.
140,506.
140,506.
82,940.
262,409.
4,113.
0.0
48,605.

2,586,012.
147,753.
258,296.
1,024,696.
1.24
4.46
4.04
.5
2.1
92.45

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.82
8.39
13.56
11.27
3.97
14.11
0.0
7.38
58.23
297

Financial Statement Analysis of Non Financial Sector

2007
1,307,144.
2,204,695.
1,306,641.
172,644.
503.
3,388,922.
36,999.
633,452.
181,408.
2,300,465.
236,598.
1,141,657.
620,299.
521,358.
354,006.
73,652.
280,354.
3,200,403.
466,612.
466,612.
0.0
2,733,791.
-

2008
1,233,851.
2,296,279.
1,233,231.
172,336.
620.
3,612,839.
8,199.
606,059.
118,696.
2,737,121.
142,764.
1,684,569.
1,306,382.
378,187.
168,117.
0.0
168,117.
2,994,004.
513,273.
513,273.
0.0
2,480,731.
-

3,184,763.
3,184,763.
0.0
2,674,299.
-

510,464.
272,191.

272,191.

128,490.

727,323.
4,113.
139,984.
46,661.

3,554,409.
73,652.
583,226.
693,951.
2.21
4.03
5.7
.68
2.97
83.97

2011

(Thousand Rupees)
2009
2010
2011
2,393,484.
2,766,007.
3,186,778.
131,699.
300,778.
524,366.
2,330,829.
2,350,072.
2,445,625.
1,092,889.
956,113.
906,813.
174,892.
169,539.
156,723.
811.
24,457.
12,964.
1,078,622.
1,275,538.
1,498,023.
89,463.
209,121.
244,612.
1,772,089.
2,128,826.
1,718,447.
4,144.
182,657.
19,000.
616,433.
1,026,614.
840,571.
83,927.
276,880.
145,072.
655,397.
463,746.
490,605.
412,188.
178,929.
223,199.
1,408,211.
1,744,067.
1,123,190.
902,815.
780,288.
706,966.
505,396.
963,779.
416,224.
211,547.
71,587.
180,719.
55,880.
0.0
115,000.
0.0
0.0
0.0
0.0
0.0
0.0
155,667.
71,587.
65,719.
2,545,815.
3,079,179.
3,601,316.
564,600.
564,600.
564,600.
564,600.
564,600.
564,600.
0.0
0.0
1,981,215.
2,514,579.
3,036,716.
162,640.
274,066.
325,764.
1,818,575.
2,240,513.
2,710,952.
0.0
0.0

4,638,189.
3,310,869.
3,704,388.
4,638,189.
3,310,869.
3,704,388.
0.0 3,741,791.
2,597,190.
2,887,295.
1,978,467.
2,114,504.
618,723.
772,791.
896,398.
713,679.
817,093.
260,711.
318,986.
250,947.
17,156.
27,017.
260,711.
301,830.
223,930.
195,013.
222,339.
153,018.
203,571.
121,908.
82,131.
75,953.
626,622. -105071
715,826.
164,021.
134,678.
207,910.
153,982. 169,380.
51,327.
342,298.
0.0
335,923.
455,776.

4,400,006.
4,400,006.
0.0
3,590,073.
2,764,931.
825,142.
809,933.
259,139.
38,806.
220,333.
256,461.
144,001.
115,733.
833,940.
216,063.
197,610.

3,162,121.
2,757,362.
0.0
55,880.
308,619. -239749
1,306,382.
958,695.

3,150,766.
0.0
338,536.
780,288.

3,782,035.
115,000.
420,267.
821,966.

.53
3.29
7.47
.76
1.22
77.94

.58
3.27
3.3
.9
1.53
81.59

1.7
3.3
2.56
.96
2.14
80.67

.53
6.15
2.53
.79
1.26
78.44

180,623.

.47
17.29
27.77
23.69
5.17
5.03

.62
13.13
20.23
18.66
3. 7.65
-

22.84
0.0
15.5
68.59

13.51
0.0
9.01
58.33

.64
-2.33
-3.79
-3.55
5.37
-.28
-3.17
.21
-4.25
45.09

.59
15.8
25.45
24.23
3.
3.61
10.42
19.32
.25
9.
54.54

.36
17.02
24.97
24.06
3.13
5.23
8.21
18.95
.14
10.94
63.79

Dadex Eternit Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
343,998.
906,303.
343,998.
43,906.
0.0

1,148,198.
2,312.
815,806.
178,949.
5,285.
145,846.
1,006,263.
606,303.
399,960.
17,104.

0.0
17,104.
468,829.
107,640.
107,640.
0.0
361,189.

1,550,513.
1,526,227.
24,286.
1,255,690.

294,823.
260,147.
260,147.
48,118.
11,412.
13,000.
18,837.
0.0

485,933.
0.0
-20425
606,303.
.19
3.1
11.54
1.04
1.14
80.99

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.18
.84
2.37
2.24
-.08
1.9
.74
0.0
-.15
43.56
298

2011

Financial Statement Analysis of Non Financial Sector

2007
430,407.
1,034,919.
430,407.
48,693.
0.0
1,000,110.
9,939.
734,882.
125,809.
1,324.
128,156.
938,234.
491,883.
446,351.
0.0
0.0
0.0
492,283.
107,640.
107,640.
0.0
384,643.
-

2008
2009
474,305.
437,123.
7,808.
611,696.
1,108,219.
460,718.
392,244.
72,180.
68,516.
13,587.
12,553.
24,518.
1,233,971.
1,103,289.
46,615.
850.
776,309.
846,291.
125,929.
113,998.
101,123.
16,220.
183,995.
125,930.
1,055,855.
941,061.
371,557.
472,169.
684,298.
468,892.
120,000.
87,344.
60,000.
0.0
0.0
0.0
0.0
120,000.
27,344.
532,421.
512,007.
107,640.
107,640.
107,640.
107,640.
0.0
0.0
424,781.
404,367.
5,655.
398,712.
-

1,966,119.
1,940,726.
25,393.
1,570,430.
-

2,332,867.
2,306,585.
26,282.
1,859,884.
-

395,689.
296,460.
-

472,983.
337,215.
-

296,460.
-

337,215.
-

66,864.

95,800.
-

49,928.
11,305.
32,292.
0.0
-

80,005.
10,000.
43,056.
0.0 -

2,189,890.
2,132,505.
57,385.
1,652,969.
459,188.
1,193,781.
536,921.
418,396.
274,197.
144,199.
224,942.
104,766.
19,227.
42,592.
15,015.
0.0

(Thousand Rupees)
2010
2011
375,989.
315,552.
7,312.
7,669.
1,113,947.
1,113,161.
337,754.
282,668.
61,918.
59,447.
5,653.
451.
80.
885.
25,190.
23,879.
1,062,017.
931,229.
38,001.
4,741.
783,211.
626,914.
110,200.
151,312.
0.0
0.0
130,605.
148,262.
894,590.
738,662.
288,056.
200,547.
606,534.
538,115.
22,537.
1,916.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
22,537.
1,916.
520,879.
506,203.
107,640.
107,640.
107,640.
107,640.
0.0
0.0
413,239.
398,563.
5,655.
5,655.
407,584.
392,908.
0.0
0.0

70,475.

2,101,734.
2,086,451.
2,016,942.
1,999,552.
84,792.
86,899.
1,635,833.
1,680,378.
1,150,964.
1,169,276.
484,869.
511,102.
465,901.
406,073.
410,199.
395,731.
268,019.
281,455.
142,180.
114,276.
222,288.
219,084.
74,243.
57,348.
13,056.
54,517.
19,984. -9549
9,968.
29,740.
0.0
0.0
383,607.
181,883.
543,416.
508,119.
0.0
0.0
10,016. -39289
288,056.
200,547.

492,283.
0.0
6,331.
491,883.

652,421.
0.0
26,949.
371,557.

599,351.
60,000.
27,577.
532,169.

.15
3.4
6.4
1.37
1.07
79.87

.26
4.11
5.4
1.37
1.17
79.73

.14
4.78
5.21
1.42
1.17
75.48

.17
3.53
5.24
1.46
1.19
77.83

.21
2.75
7.25
1.67
1.26
80.54

1.91
3.42
10.39
10.21
1.2
2.68
-

2.21
5.1
15.62
13.98
1.63 3.01
-

2.54
0.0
3.59
45.73

3.43
0.0
6.5
49.46

2.01
2.62
8.16
6.81

1.76
1.34
3.87
3.5

1.46
-.71
-1.86
-1.82

2.68
2.53
.95
.42
.93
48.39

3.33
.82
-.46
.25
-3.65
47.03

2.59
3.22
1.94
.07
2.56
47.57

Diamond Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
167,392.
293,956.
167,392.
14,927.
0.0

244,770.
785.
4,731.
34,710.
66,863.
137,681.
52,890.
0.0
52,890.
0.0

0.0
0.0
359,272.
90,000.
90,000.
0.0
269,272.

24,370.
24,370.
0.0
32,291.

-7921
10,369.
10,369.
61.
-12833
322.
0.0
0.0

359,272.
0.0
-13155
0.0
1.94
.25
142.43
.06
4.63
132.5

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.15
-3.05
-3.52
-3.52
5.15
-52.66
0.0
-1.46
39.92
299

Financial Statement Analysis of Non Financial Sector

2007
153,749.
293,630.
153,749.
13,586.
0.0
270,620.
519.
829.
34,591.
95,108.
139,573.
40,732.
0.0
40,732.
0.0
0.0
0.0
383,637.
90,000.
90,000.
0.0
293,637.
-

(Thousand Rupees)
2008
2009
2010
2011
141,421.
315,357.
411,997.
349,619.
0.0
0.0
0.0
293,639.
293,639.
287,089.
287,089.
141,421.
130,212.
119,733.
110,516.
12,337.
11,210.
10,157.
9,217.
0.0
0.0
0.0
0.0
145,604.
292,068.
238,906.
39,541.
196.
197.
326,768.
364,978.
262,125.
243,423.
669.
3,514.
679.
666.
0.0
0.0
0.0
22,960.
26,735.
110,447.
47,747.
0.0
161,631.
12,899.
43,764.
51,401.
137,733.
238,118.
169,935.
168,396.
46,586.
41,292.
4,564.
2,461.
0.0
0.0
0.0
0.0
46,586.
41,292.
4,564.
2,461.
0.0
13,687.
9,005.
1,042.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
131.
391.
704.
0.0
13,556.
8,614.
338.
421,603.
625,356.
660,553.
589,539.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
90,000.
0.0
0.0
0.0
0.0
331,603.
462,670.
503,510.
437,635.
0.0
0.0
0.0
462,670.
503,510.
437,635.
72,686.
67,043.
61,904.

6,333.
6,333.
0.0
15,805.
-

-9472

-723

0.0
0.0
0.0
9,537.
-9537

3,694.

31,906.
-

3,694.

31,906.
-

358.

13.
-25004

140.
0.0
0.0
-

258.
0.0
0.0
-

383,637.
0.0
-863

2011

421,603.
0.0
-25262
0.0
0.0

3.2
5.65 546.2 .01
6.64
249.57 -

4.06

0.0
7.01

999,894.
132,172.
160.
999,894.
132,172.
160.
0.0
0.0
0.0
958,641.
132,219.
8,417.
949,727.
124,181.
160.
8,914.
8,038.
8,257.
-8257
41,253. -47
57,105.
19,833.
83,219.
29,551.
2,523.
60.
27,554.
17,310.
83,159.
8,826.
2,099.
3,582.
20.
13.
4.
20.
0.0
0.0
-86146
193,415. -2688
124.
754.
535.
0.0
0.0
0.0
0.0
0.0
0.0
40,945.
97,610. -58263
639,043.
669,558.
590,581.
0.0
0.0
0.0
-86681
193,291. -3442
0.0
0.0
0.0
3.07
0.0
11.05
1.47
8.84
95.87

20.2
.01
36.12
.2
57.43
100.04

21.16
2.5
0.0
0.0
98.91
5,260.63

.11
-.17
-.19
-.19
-

7.64 -11.42 0.0

-.1
42.63

.11
-5.6
-6.21
-6.21

.09
33.68
36.95
36.47

.02
-.4
-.42
-.41

0.0
-2.81
46.84

9,671.75
19.34
.74
21.48
69.48

.01
-13.6
-13.78
-13.67
-

-2.03
7.19
-.38
73.39

.01
-53,841.25
-16.63
-9.63
65.5

Dost Steels Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

300

2011

Financial Statement Analysis of Non Financial Sector

2007
-

2008
-

2009
2,035,604.
1,846,022.
171,306.
165,715.
1,772.

1,008,049.
386,293.
-13654
386,293.

0.0

23,867.
12,888.
174.
0.0
12,714.
1,040,443.
1,040,443.
386,293.
386,293.
0.0
0.0
0.0
621,756.
674,645.
674,645.
0.0
-52889
-52889
-

(Thousand Rupees)
2010
2011
2,034,036.
2,035,923.
1,846,934.
1,849,955.
171,306.
171,306.
164,294.
164,295.
1,420.
22,808.
21,673.
1,352.
1,277.
175.
129.
0.0
1,177.
1,148.
1,257,445.
1,426,631.
1,257,445.
1,426,631.
166,973.
10,107.
166,973.
5,556.
4,551.
0.0
610,970.
600,462.
674,645.
674,645.
674,645.
674,645.
0.0
-63675
-74183
-63675
-74183
-

0.0
-

0.0
0.0
0.0

0.0

0.0
0.0
0.0

0.0
0.0
0.0

0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0

0.0

0.0
-

0.0
0.0
12,983.
-

0.0
0.0
10,954.

10,654.

10,954.
4,804.

10,654.
7,148.

12,983.
5,990.
-

0.0

-10786
-

-12780
874.
0.0

0.0
0.0
-10508
0.0
0.0
0.0

0.0
-36250

10,890.

0.0
0.0
0.0

-3935

777,943.
610,569.
166,973.
5,556.
-10786
-10508
166,973.
5,556.
0.0
-

0.0
.01

0.0
0.0

0.0

0.0
0.0
-

2.29
-.62
-2.06
-1.27

2.33
-.53
-1.75
-1.21
-

.01
-.2
9.22

2.39
-.52
-1.73
-1.51

-.03
-.16
9.06

0.0
-.16
8.9

Eco Pack Ltd.( Plastobag Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
833,473.
1,080,411.
833,473.
48,744.
0.0

477,001.
7,046.
226,971.
135,781.
0.0
107,203.
562,681.
148,362.
414,319.
334,361.

0.0
334,361.
413,432.
164,121.
164,121.
0.0
249,311.

1,341,811.
1,341,811.
0.0
1,099,327.

242,484.
97,404.
97,404.
57,373.
91,072.
5,834.
0.0
21,407.

747,793.
0.0
85,238.
148,362.
.25
4.28
10.12
1.02
.85
81.93

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.17
7.76
24.
13.37
5.91
6.79
0.0
5.19
25.19
301

Financial Statement Analysis of Non Financial Sector

2007
1,061,394.
1,368,256.
1,061,394.
62,559.
0.0
725,355.
3,090.
386,420.
175,240.
0.0
160,605.
810,422.
309,395.
501,027.
558,662.
0.0
558,662.
417,665.
229,770.
229,770.
0.0
187,895.
1,463,414.
1,463,414.
0.0
1,262,685.

200,729.
94,379.

94,379.
107,182.
8,558.
6,316.
0.0
0.0
-

2008
1,086,225.
1,467,449.
1,086,225.
77,791.
0.0
709,329.
36,304.
319,678.
252,806.
0.0
100,541.
879,729.
405,896.
473,833.
577,544.
0.0
577,544.
338,281.
229,770.
229,770.
0.0
108,511.
-

2009
1,278,116.
11,670.
1,718,915.
1,259,424.
97,069.
7,022.
547,952.
817.
231,836.
221,211.
0.0
94,088.
843,304.
843,304.
589,311.
407,807.
0.0
11,916.
169,588.
393,453.
229,770.
229,770.
-49645
-49645
213,328.

2011

(Thousand Rupees)
2010
2011
1,233,640.
1,245,793.
9,490.
6,125.
1,459,393.
1,766,267.
1,078,170.
1,231,394.
80,886.
91,256.
0.0
0.0
145,980.
8,274.
443,093.
457,299.
1,839.
10,129.
230,817.
168,292.
114,564.
146,759.
0.0
0.0
95,873.
132,119.
830,727.
991,693.
476,367.
570,694.
354,360.
420,999.
471,881.
342,302.
298,320.
159,999.
0.0
0.0
18,148.
22,256.
155,413.
160,047.
374,125.
369,097.
229,770.
229,770.
229,770.
229,770.
0.0
0.0
-49315
-101661
0.0
-49315
-101661
193,670.
240,988.

2,056,588.
1,764,852.
1,742,074.
1,784,754.
2,056,588.
1,764,852.
1,742,074.
1,784,754.
0.0 0.0
1,907,920.
1,577,168.
1,542,996.
1,677,725.
1,089,110.
1,160,605.
1,207,255.
488,058.
382,391.
470,470.
148,668.
187,684.
199,078.
107,029.
109,151.
104,218.
100,631.
95,207.
62,762.
59,242.
53,558.
109,151.
41,456.
41,389.
41,649.
120,411.
118,732.
117,821.
142,238.
195,368.
138,592.
104,294.
128,766.
81,650.
47,722.
-71073
-105810
-25875
-68978
8,843.
20,192.
7,482.
18,329.
0.0 0.0
0.0
0.0
0.0
127,054.
113,206.
68,024.

976,327.
915,825.
982,764.
846,006.
711,399.
0.0
0.0
407,807.
298,320.
159,999.
-126002
-33357
-87307
2,242. -79916
309,395.
405,896.
407,807.
774,687.
730,693.
.22
7.32
11.97
.82
.9
86.28

.33
6.92
12.29
1.15
.81
92.77

.26
11.07
12.53
.97
.65
89.37

.14
7.96
6.58
1.04
.53
88.57

.16
5.84
8.22
1.05
.46
94.

3.28
.55
2.06
.99
-

4.31
-3.97
-18.8
-7.51
-

3.79
-

6.43

.58
0.0
.1
18.18

3.64
-5.84
-28.92
-11.15

-3.46
0.0
-3.48
14.72

3.48
-1.48
-6.74
-2.83

3.61
-4.08
-18.56
-8.86

7.55
.68
-1.49
.09
-1.45
16.28

10.61
-.45
-3.86
.05
-3.8
16.06

7.61
.18
-6.
.09
-5.48
17.12

Emco Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
691,694.
1,328,461.
691,694.
70,953.

672,832.
35,247.
288,961.
233,345.
115,279.
1,002,102.
529,665.
472,437.
188,540.

188,540.
173,884.
153,333.
153,333.
20,551.

1,178,984.
1,014,498.
164,486.
967,014.

211,970.
151,141.
151,141.
83,669.
-14444
6,737.

362,424.
-21181
529,665.
.27
7.1
19.79
.86
.67
82.02

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

6.85
-1.11
-7.02
-3.58
4.08
-1.23
0.0
-1.38
11.34
302

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

2007
1,013,140.
1,714,584.
1,013,140.
133,026.
0.0
667,273.
50,345.
292,316.
204,082.
0.0
120,530.
959,560.
527,987.
431,573.
279,455.
0.0
279,455.
441,398.
153,333.
153,333.
0.0
288,065.
-

2008
1,143,173.
1,924,153.
1,139,456.
92,037.
3,717.
781,780.
38,585.
361,022.
225,487.
0.0
156,686.
1,158,906.
645,772.
513,134.
344,127.
0.0
344,127.
421,920.
153,333.
153,333.
0.0
268,587.
-

1,373,555.
1,223,019.
150,536.
1,109,146.

1,427,766.
1,348,602.
79,164.
1,160,608.

264,409.
159,427.

267,158.
177,315.
-

159,427.
-

98,972.
10,870.
6,042.
0.0
0.0

0.0
0.0
-

0.0

177,315.
112,039.
-15583
6,302.
0.0
0.0
-

2009
1,220,805.
7,265.
2,018,903.
1,160,831.
86,177.
3,345.
49,364.
921,011.
58,617.
437,345.
278,970.
0.0
146,079.
1,041,023.
575,411.
465,612.
570,806.
428,302.
90,885.
0.0
3,017.
48,602.
529,987.
350,000.
350,000.
0.0
-231459
39,899.
-271358
411,446.

2011

(Thousand Rupees)
2010
2011
1,251,279.
1,183,584.
7,265.
2,160,901.
2,207,621.
1,209,670.
1,154,812.
88,329.
100,296.
3,011.
4,740.
31,333.
24,032.
932,477.
895,712.
51,008.
70,038.
346,808.
427,750.
337,710.
197,175.
0.0
196,951.
200,749.
1,200,553.
1,118,935.
561,963.
530,639.
638,590.
588,296.
468,243.
491,548.
310,433.
231,759.
87,142.
195,414.
3,037.
2,328.
67,631.
62,047.
514,960.
468,813.
350,000.
350,000.
350,000.
350,000.
0.0
-286368
-314006
39,899.
39,899.
-326267
-353905
451,328.
432,819.

1,542,108.
1,860,988.
1,855,343.
1,449,135.
1,696,467.
1,751,678.
92,973.
164,521.
103,665.
1,283,505.
1,554,592.
1,497,515.
674,796.
697,888.
658,325.
608,709.
856,704.
839,190.
258,603.
306,396.
357,828.
182,976.
211,171.
228,251.
108,263.
128,256.
146,978.
74,713.
82,915.
81,273.
301,332.
307,026.
324,989.
185,187.
174,824.
174,891.
52,927.
77,931.
77,289.
-103152
-76177
-34645
10,132.
10,132.
17,517.
0.0
0.0
0.0
18,455.
41,955.
25,429.

720,853.
766,047.
1,100,793.
983,203.
960,361.
0.0
0.0
428,302.
310,433.
231,759.
-113284
-86309
-52162
4,828. -21885
527,987.
645,772.
1,003,713.
872,396.
762,398.
.27
7.21
14.86
.82
.7
80.75

.23
7.85
15.79
.74
.67
81.29

.32
12.01
18.09
.72
.88
83.23

.32
9.39
18.15
.85
.78
83.54

.24
9.43
10.63
.89
.8
80.71

0.0

0.0

0.0

0.0

0.0

2.81
.71
3.53
2.01
-

3.56
-.86
-3.61
-2.1
-

4.7
-

3.95

.79
0.0
.31
28.79

3.04
-5.07
-21.67
-11.05

-1.09
0.0
-1.43
27.52

3.24
-3.52
-14.58
-7.31

3.44
-1.63
-7.04
-3.57

5.37
.02
-4.09
.03
-2.47
14.71

4.34
.55
-1.87
.02
-1.49
13.39

3.53
-.95
-6.69
.01
-3.24
15.14

Fateh Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
44,661.
172,750.
44,661.
4,574.
0.0
116,649.
17.
0.0
75,190.
18.
41,424.
329,164.
0.0
329,164.
0.0
0.0
0.0
-167854
20,000.
20,000.
0.0
-187854
0.0
0.0
0.0
0.0
0.0
5,813.
5,813.
696.
-6064
0.0
0.0
0.0
-167854
0.0
-6064
0.0
.23
0.0
.35
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-1.96
-3.7
3.68
3.68
0.0
-3.03
-83.93
303

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
40,547.

2009
36,845.

172,750.
40,547.
4,115.
0.0

172,750.
36,845.
3,702.
0.0
-

114,824.
18.
0.0
75,047.
73.
39,686.
325,241.
0.0
325,241.
0.0
-

121,979.
10.
0.0
83,904.
154.
37,911.
327,493.
0.0
327,493.
0.0
-

0.0

0.0

0.0
-169870
20,000.
20,000.
0.0
-189870
-

0.0
-168669
20,000.
20,000.
0.0
-188669
-

0.0
0.0
0.0
0.0

0.0
0.0
0.0
0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
6,457.
35,566.
3,744.
0.0
0.0
0.0
6,457.
35,566.
3,744.
0.0
0.0
0.0
1.
0.0
0.0
0.0
0.0
0.0
-3314
5,732. -31499
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
12.
8.
0.0

0.0
6,754.

0.0
6,242.
-

6,754.
-

6,242.
-

1.
-2071

9.
1,120.
0.0
0.0
0.0

0.0
0.0
0.0
-

-169870

-168669
0.0
0.0
.23

-162979

-194462
-197776
0.0
0.0
0.0
-3314
5,732. -31499
0.0
0.0
0.0

0.0
1,120.
0.0

-2071

.26
-

0.0
.35
-

33,624.
0.0
172,750.
33,514.
3,331.
0.0
110.
0.0
134,536.
11.
842.
98,553.
0.0
35,130.
331,139.
0.0
331,139.
0.0
0.0
0.0
0.0
0.0
0.0
-162979
20,000.
20,000.
0.0
-182979
92.
-183071
0.0

.3
-

0.0
.37
-

(Thousand Rupees)
2010
2011
30,643.
27,948.
0.0
0.0
172,750.
172,750.
30,517.
27,821.
2,997.
2,696.
0.0
0.0
126.
0.0
0.0
127.
107,773.
108,353.
25.
29.
0.0
0.0
103,436.
103,947.
0.0
0.0
4,312.
4,377.
332,878.
334,077.
0.0
0.0
332,878.
334,077.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-194462
-197776
20,000.
20,000.
20,000.
20,000.
0.0
0.0
-214462
-217776
108.
109.
-214570
-217885
0.0
0.0

.31
-

0.0
.41
-

.31
-

0.0
.32
-

0.0
.32
-

-1.91
-1.31
1.23
1.23
-

-1.94
.71
-.66
-.66
-

0.0
-1.04
-84.94

-2.03
3.51
-3.46
-3.46
-

0.0
.56
-84.33

0.0 0.0
2.87
-81.49

-1.71
-20.55
17.62
17.62

-1.69
-2.41
1.69
1.69
-

0.0
-15.75
-97.23

0.0
-1.66
-98.89

Gillette Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,040.
14,674.
2,040.
3,133.
0.0

342,230.
21,171.
66,925.
54,359.
0.0
199,775.
91,989.
0.0
91,989.
0.0

0.0
0.0
252,281.
192,000.
192,000.
0.0
60,281.

662,092.
662,092.
0.0
491,427.

170,665.
138,793.
138,793.
112.
50,410.
34,216.
0.0
0.0

252,281.
0.0
16,194.
0.0
.82
.02
8.21
1.92
3.72
74.22

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.36
14.82
20.98
20.98
9.89
7.61
0.0
.84
13.14
304

Financial Statement Analysis of Non Financial Sector

2007

2008
3,815.

2,395.
-

16,049.
3,815.
3,001.
0.0
-

530,246.
130,961.
129,154.
98,741.
0.0
171,390.
304,781.
0.0
304,781.
0.0

0.0
0.0
229,280.
192,000.
192,000.
0.0
37,280.

743,848.
743,848.
0.0
577,558.

695.
72,306.
65,195.
9,600. 0.0 -

229,280.
263,659.
0.0
0.0
-23001
-2489
0.0
0.0
.75
.04
13.27
1.39
1.74
77.64

371,737.
261,267.
261,267.
0.0

363,413.
192,000.
192,000.
171,413.

1.36
.05
12.17
3.27
2.46
77.18

(Thousand Rupees)
2010
2011
753.
5,432.
0.0
3,363.
6,785.
527.
5,282.
751.
1,345.
0.0
0.0
226.
150.
585,115.
716,496.
8,788.
1,748.
196,761.
355,182.
126,089.
135,032.
0.0
253,477.
224,534.
196,571.
357,196.
0.0
196,571.
357,196.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
389,297.
364,732.
192,000.
192,000.
192,000.
192,000.
0.0
197,297.
172,732.
0.0
197,297.
172,732.
0.0

727,573.
727,573.

796,671.
796,671.
-

457,963.
457,963.

295,921.

27,683.
50,684.
0.0
0.0

300.
623,102.
8,071.
145,372.
97,922.

171,413.

3,363.
1,278.
742.

274.

440,755.
68,307.
143,362.
176,327.
0.0 52,759.
179,491.
0.0 179,491.
0.0
0.0 0.0 263,659.
192,000.
192,000.
0.0 71,659.
-

330,764.
295,921.

158,517.
-

4,279.
2,395.
2,651.
0.0 -

1,578.
-

1,449,258.
1,449,258.
0.0 1,118,494.

166,290.
158,517.
-

2009

2011

550,743.
550,743.
-

269,610.
197,228.
147,090.
50,138.
50,807.
301.

245,928.
229,963.
186,207.
43,756.
35,619.
25.

1,032,769.
1,032,769.
0.0
768,631.
768,631.
0.0
264,138.
273,408.
218,669.
54,739.
40,518.
311.

124,723.
15,369.

58,461.
32,577.

247,461. -140457
363,413.
0.0
109,354.
0.0
.41
.04
13.46
1.16
2.38
62.94

42,417.
60,232.
0.0
0.0
-110027

389,297.
364,732.
0.0
0.0
25,884. -17815
0.0
0.0
.69
0.0
15.83
1.36
2.98
69.13

.38
.03
13.07
1.43
2.01
74.42

1.33
6.3
11.5
11.5
-

5.76

3.72
0.0
-1.2
11.94

.68
14.8
29.34
29.34
.74 10.11
4.99
0.0
.37
13.73

.72
23.36
39.78
39.78

.5
9.66
15.53
15.53

.98
6.49
11.25
11.25

4.05

2.91

7.34
-.71
1.35
20.28

4.11
-.31
-.93
19.

5.

17.14
.95
5.7
18.93

Goodluck Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,706.
14,245.
2,706.
393.
0.0

13,291.
488.
10,191.
358.
0.0
2,254.
3,080.
0.0
3,080.
0.0

0.0
0.0
12,917.
3,000.
3,000.
0.0
9,917.

238,020.
238,020.
0.0
231,325.

6,695.
4,589.
4,589.
81.
2,025.
1,190.
600.
0.0

12,917.
0.0
235.
0.0
.27
.03
.15
14.88
4.32
97.19

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.24
12.79
16.25
16.25
1.39
23.36
.85
0.0
2.78
43.06
305

Financial Statement Analysis of Non Financial Sector

2007

2008
2,440.

3,447.
-

14,315.
2,440.
336.
0.0
-

16,125.
1,829.
12,252.
908.
0.0
1,136.
9,475.
2,756.
6,719.
0.0

0.0

238,908.
238,908.
0.0
230,541.

5,597.
92.
-

285.
20,269.
3,747.
13,605.
2,342.
575.
2,658.
701.
1,957.
7,602.

6,862.
740.
12,923.
3,000.
3,000.
9,923.
9,923.

2,822.
1,242.
600.
0.0

15,757.
2,629.
418.

16.

0.0
10,384.
3,000.
3,000.
0.0 7,384.
-

9,136.
5,597.

5,529.
-

14,158.
5,130.
6,890.
1,482.
0.0 656.
7,221.
0.0
7,221.
0.0
0.0 -

15,744.
3,447.
422.
0.0 -

301,696.
301,696.
0.0 292,560.

8,367.
5,529.
-

2,914.
-

0.0
9,090.
3,000.
3,000.
0.0
6,090.

2009

3,447.
1,508.
600.
0.0 -

2011

(Thousand Rupees)
2010
2011
2,914.
2,889.
0.0
15,757.
16,092.
2,629.
2,588.
418.
375.
0.0
0.0
285.
301.
20,269.
19,325.
3,747.
6,512.
13,605.
10,033.
2,342.
1,261.
0.0
575.
1,519.
2,658.
2,105.
701.
0.0
1,957.
2,105.
7,602.
7,106.
0.0
0.0
0.0
7,762.
7,145.
-160
-39
12,923.
13,003.
3,000.
3,000.
3,000.
3,000.
0.0
9,923.
10,003.
0.0
9,923.
10,003.
0.0

488,277.
488,277.

488,277.
488,277.

4,574.

4,574.

381,582.
381,582.
0.0
372,787.
353,098.
19,689.
8,795.
7,044.
108.
6,936.
6,239.
149.
138.
1,602.
763.
600.
0.0
4,574.

477,371.
460,162.
17,209.
10,906.
6,784.
154.
6,630.
6,508.
114.
105.
4,008.
2,643.
600.

477,371.
460,162.
17,209.
10,906.
6,784.
154.
6,630.
6,508.
114.
105.
4,008.
2,441.
600.
-

9,090.
0.0
980.
2,756.

10,384.
0.0
1,339.
0.0

20,525.
0.0
765.
701.

20,525.
0.0
967.
701.

20,109.
0.0
239.
0.0

.29
.01
.38
12.87
1.7
96.5

.92
.03
.49
17.14
1.96
96.97

2.29
.02
.48
21.06
7.63
97.77

2.29
.02
.48
21.06
7.63
97.77

3.69
.04
.33
17.18
9.18
97.7

1.04
16.33
25.65
25.65
2.63
19.5
-

.7
19.06
35.4
35.4
3.23
43.79
-

1.18
0.0
5.27
30.3

1.14
0.0
6.46
34.61

.79
19.65
34.39
25.93
2.28
35.89
39.17
.82
.45
4.55
43.08

.79
17.29
31.01
19.53
2.61
35.89
39.17
.82
.45
5.22
43.08

.71
7.06
12.36
7.89
1.4
38.03
12.61
.42
.5
2.8
43.34

Grays Of Cambridge (Pakistan) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
28,368.
56,670.
28,368.
3,327.
0.0

268,923.
32,264.
51,920.
23,188.
101,883.
59,668.
17,603.
0.0
17,603.
0.0

0.0
0.0
279,688.
16,332.
16,332.
0.0
263,356.

120,289.
4,019.
116,270.
74,648.

45,641.
33,096.
33,096.
752.
29,118.
4,097.
28,581.
0.0

279,688.
0.0
-3560
0.0
8.94
.63
19.28
.4
15.28
62.06

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.06
9.53
10.05
10.05
.88
2.32
24.21
0.0
15.32
171.25
306

Financial Statement Analysis of Non Financial Sector

2007

2008
26,379.

36,215.
-

56,236.
26,379.
3,047.
0.0
-

67,289.
36,215.
3,675.
0.0
-

263,624.
27,266.
55,132.
28,324.
105,951.
46,951.
21,371.
0.0
21,371.
0.0
-

231,755.
4,193.
63,896.
22,975.
101,956.
38,735.
19,683.
0.0
19,683.
0.0
-

0.0

0.0
-

0.0
268,632.
16,332.
16,332.
0.0
252,300.
-

0.0
248,287.
16,332.
16,332.
0.0
231,955.
-

130,076.
6,650.
123,426.
84,395.
-

138,542.
5,175.
133,367.
89,735.
-

45,681.
34,384.
-

48,807.
36,387.
-

34,384.
-

36,387.
-

945.

741.
-

23,265.
3,322.
28,581.
0.0
-

10,887.
2,486.
16,332.
0.0
-

2011

(Thousand Rupees)
2009
2010
2011
117,943.
86,546.
68,008.
0.0
1,314.
161.
70,215.
72,352.
77,461.
35,982.
36,016.
37,108.
4,390.
4,307.
4,319.
0.0
0.0
0.0
75,377.
44,653.
28,184.
6,584.
4,563.
2,555.
124,191.
141,546.
144,705.
10,572.
8,241.
5,367.
71,510.
79,386.
90,144.
22,587.
29,325.
23,150.
0.0
0.0
0.0
19,522.
24,594.
26,044.
18,940.
20,205.
26,303.
0.0
0.0
0.0
18,940.
20,205.
26,303.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
223,194.
207,887.
186,410.
16,332.
73,493.
73,493.
16,332.
73,493.
73,493.
0.0
0.0
206,862.
127,688.
112,917.
0.0
0.0
0.0
206,862.
127,688.
112,917.
0.0
6,706.
0.0
134,591.
180,194.
134,591.
180,194.
0.0
0.0
80,398.
111,655.
51,774.
75,981.
28,624.
35,674.
54,193.
68,539.
35,044.
47,740.
15,910.
22,925.
19,134.
24,815.
36,041.
42,631.
705.
697.
0.0
0.0
-8198
-22898
1,735.
1,597.
4,083.
18,373.
57,162.
0.0
14,273.
3,912.

195,409.
195,409.
0.0
131,991.
86,160.
45,831.
63,418.
63,921.
23,993.
39,928.
48,951.
599.
0.0
47.
2,497.
7,349.
16,108.

268,632.
248,287.
223,194.
207,887.
186,410.
0.0
0.0
0.0
0.0
0.0
-8638
-7931
-14016
-42868
-9799
0.0
0.0
0.0
0.0
0.0
7.56
.73
21.77
.45
12.34
64.88

6.56
.53
16.58
.52
11.77
64.77

1.75
.52
16.78
.56
6.56
59.74

1.86
.39
16.27
.79
7.01
61.96

1.08
.31
11.85
.92
5.5
67.55

.08
7.92
8.49
8.49
.7
2.36
-

.08
3.9
4.21
4.21
.51
2.17
-

17.89
0.0
12.21
164.48

.08
-3.21
-3.48
-3.48
-2.43
1.88

.1
-9.74
-10.62
-10.62
-1.33
2.27

-6.09
.75
-6.08
136.66

-12.71
.19
-3.33
28.29

7.86
0.0
5.14
152.02

.14
.02
.02
.02
-.33
2.17
-

.02
.61
-.33
25.36

Huffaz Seamless Pipe Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
395,273.
661,551.
395,273.
36,719.
0.0

631,777.
47,199.
366,926.
83,698.
0.0
133,954.
680,062.
9,727.
670,335.
28,231.

0.0
28,231.
318,757.
140,303.
140,303.
0.0
178,454.

1,119,166.
1,118,787.
379.
924,628.

194,538.
46,706.
46,706.
8,996.
157,855.
34,555.
28,061.
42,091.

346,988.
0.0
95,239.
9,727.
.19
.8
7.48
1.09
.93
82.62

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.22
17.42
56.
50.12
4.39
3.05
14.1
0.0
8.79
22.72
307

Financial Statement Analysis of Non Financial Sector

2008
1,244,052.
1,586,584.
1,243,886.
53,062.
166.
529,464.
61,660.
172,381.
92,626.
0.0
202,797.
623,933.
4,079.
619,854.
13,031.
0.0
13,031.
1,136,552.
218,873.
218,873.
0.0
917,679.
-

2009
1,743,351.
278.
2,127,520.
1,737,258.
58,379.
5,815.
1,060,297.
12,231.
779,263.
128,827.
0.0
139,976.
765,323.
765,323.
324,741.
0.0
44,738.
280,003.
1,713,584.
341,442.
341,442.
0.0
409,517.
409,517.
962,625.

946,766.
945,449.
1,317.
792,146.

1,184,837.
1,184,837.
0.0
972,219.

1,323,255.
1,319,963.
3,292.
1,026,796.
954,663.
72,133.
296,459.
58,040.
5,247.
52,793.
72,614.
17,489.
142.
221,930.
33,104.

1,285,301.
1,455,071.
1,252,128.
1,201,749.
33,173.
253,322.
976,326.
1,368,619.
601,487.
890,467.
374,839.
478,152.
308,975.
86,452.
60,658.
74,830.
4,062.
16,159.
56,596.
58,671.
73,154.
916,700.
38,830.
74,805.
20,714.
26,508.
211,153. -38466
82,085.
31,715.
0.0
83,227.
138,711.
238,921.
436,031.
5,299,931.
5,102,937.
0.0
129,068. -153408
0.0

212,618.
48,754.
-

37,693.
-

48,754.
-

15,292.

10,868.
-

104,140.
11,610.
27,359.
0.0
-

(Thousand Rupees)
2010
2011
5,074,621.
4,998,612.
3,925.
5,155.
5,137,167.
5,489,975.
5,055,037.
4,977,677.
77,262.
400,168.
15,659.
15,780.
1,134,393.
1,194,622.
31,797.
31,601.
832,643.
746,597.
96,457.
191,980.
0.0
173,496.
224,444.
909,083.
1,090,297.
909,083.
1,090,297.
1,508,416.
1,413,146.
52,157.
60,316.
1,456,259.
1,352,830.
3,791,515.
3,689,791.
554,844.
554,844.
554,844.
554,844.
0.0
333,374.
434,861.
333,374.
434,861.
2,903,297.
2,700,086.

2007
1,214,181.
1,503,484.
1,213,848.
37,688.
333.
562,857.
18,860.
344,924.
63,710.
0.0
135,363.
691,422.
11,155.
680,267.
17,110.
0.0
17,110.
1,068,506.
182,394.
182,394.
0.0
886,112.
-

154,620.
37,693.
-

2011

154,194.
47,961.
0.0 65,662.
102,433.
-27514

1,085,616.
0.0
65,171.
11,155.

1,149,583.
0.0
106,233.
4,079.

2,038,325.
0.0
188,826.
0.0

.12
1.62
6.73
.53
.81
83.67

.25
.92
7.82
.67
.85
82.06

.18
1.32
9.74
.47
1.39
77.6

.14
3.02
7.5
.21
1.25
75.96

.21
5.14
13.19
.23
1.1
94.06

0.0
0.0

0.0

0.0

0.0
0.0
0.0

0.0
0.0

0.0
0.0

.66
7.43
15.01
14.54
3.38 2.74
11.
0.0
5.07
58.58

.56
8.69
13.99
13.8

.64
9.7
15.57
13.92
-

6.87
13.01
0.0
4.85
51.93

.64
4.69
7.67
5.75
-

1.7
1,563.89
16.77
-.03
5.53
50.19

1.54
11.19
16.43
.1
2.33
68.33

.68
-.62
-.9
-.74
-.84
1.95
-.45
-2.64
.17
-1.26
66.5

International Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,841,911.
2,785,087.
1,837,046.
173,817.
4,865.

3,405,379.
428,961.
2,025,921.
597,975.
352,522.
2,972,692.
2,442,728.
529,964.
275,000.

275,000.
1,999,598.
427,892.
427,892.
1,571,706.

8,727,002.
7,186,363.
1,540,639.
7,486,474.

1,240,528.
337,871.
337,871.
179,845.
725,519.
182,000.
213,946.
141,204.

2,274,598.
329,573.
2,442,728.
.35
2.06
6.85
1.66
1.15
85.79

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.62
14.24
39.04
33.56
2.54
4.31
8.31
0.0
12.7
46.73
308

Financial Statement Analysis of Non Financial Sector

2007
2,742,437.
3,832,413.
2,736,859.
190,195.
5,578.
5,857,903.
3,923.
3,309,927.
914,470.
0.0
1,359,018.
270,565.
5,195,903.
4,428,150.
767,753.
1,062,500.
0.0
0.0
1,062,500.
2,341,937.
569,096.
569,096.
0.0
0.0
1,772,841.
-

2008
4,182,713.
5,282,865.
4,172,307.
221,569.
10,406.
6,443,498.
28,106.
4,591,568.
1,401,333.
0.0
422,491.
5,695,607.
4,389,655.
1,305,952.
1,141,665.
0.0
1,141,665.
3,788,939.
832,587.
832,587.
0.0
2,956,352.
-

11,020,192.
9,062,959.
1,957,233.
9,597,211.

13,761,502.
10,741,994.
3,019,508.
11,974,069.

1,422,981.
413,264.

1,787,433.
619,724.
-

413,264.
-

619,724.
-

331,766.

450,227.
-

807,357.
166,000.
213,411.
187,802.
-

0.0

904,303.
140,066.
208,147.
249,776.
-

2009
6,011,101.
1,946,855.
5,315,906.
3,987,224.
227,824.
17,959.
59,063.
5,167,778.
1,235,455.
2,228,967.
1,083,990.
0.0
619,366.
4,838,067.
3,533,094.
1,304,973.
2,301,952.
2,015,460.
0.0
0.0
286,492.
4,038,860.
999,105.
999,105.
0.0
1,661,200.
1,661,200.
1,378,555.

2011

(Thousand Rupees)
2010
2011
10,048,930. 11,671,893.
6,041,888.
445,087.
5,389,969. 11,473,549.
3,849,399. 11,021,605.
227,615.
361,100.
11,801.
14,538.
145,842.
190,663.
8,709,238. 14,056,149.
21,568.
274,883.
6,114,406.
8,570,938.
1,579,112.
1,924,868.
0.0
994,152.
3,285,460.
8,708,712. 13,842,522.
7,715,766. 12,397,502.
992,946.
1,445,020.
5,358,990.
4,837,736.
5,113,227.
4,573,019.
245,763.
264,717.
4,690,466.
7,047,784.
999,105.
1,198,926.
999,105.
1,198,926.
0.0
2,324,496.
4,486,515.
1,859,191.
2,324,496.
2,627,324.
1,366,865.
1,362,343.

12,319,422. 13,471,783. 15,992,338.

9,412,420.
9,844,998. 10,853,470.
2,907,002.
3,626,785.
5,138,868.
11,152,273. 11,249,674. 13,829,976.
8,929,564. 13,747,603. 13,800,544.
2,222,709. -2497929
29,432.
1,167,149.
2,222,109.
2,162,362.
483,294.
746,201.
913,188.
318,172.
384,019.
445,793.
165,122.
362,182.
467,395.
381,586.
497,818.
737,416.
535,081.
257,090.
882,260.
522,703.
242,277.
869,505.
468,809.
1,359,271.
580,373.
114,000.
373,729.
247,511.
224,799.
399,642.
599,463.
0.0
199,821.
-4033251
2,945,001. -3490319

3,404,437.
0.0
427,946.
4,428,150.

4,930,604.
0.0
556,090.
4,389,655.

6,340,812.
2,015,460.
130,010.
5,548,554.

.44
3.01
8.3
1.28
1.13
87.09

.25
3.27
10.18
1.3
1.13
87.01

.48
4.34
8.8
1.1
1.07
90.53

10,049,456. 11,885,520.
5,113,227.
4,573,019.
585,900. -266601
12,828,993. 16,970,521.
.18
1.91
11.72
.72
1.
83.51

.16
5.52
12.04
.62
1.02
86.48

0.0

0.0

0.0

0.0

2.67
11.66
37.19
28.43
3.01
3.33
-

1.8
9.41
29.5
21.7
3.67
3.
-

7.33
0.0
11.27
41.15

6.57
0.0
9.18
45.51

1.77
4.3
11.98
8.32
1.58
5.53
1.9
3.81
.41
3.55
40.42

3.
9.08
31.14
16.59
2.47
2.2
6.61
10.09
-.25
9.86
46.95

2.65
2.61
9.89
5.29
.56
1.87
1.67
3.63
-.22
2.78
58.78

KSB Pumps Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
89,825.
328,551.
89,825.
14,355.

740,119.
136,066.
267,057.
214,193.
2,805.
119,998.
362,480.
47.
362,433.

467,464.
120,000.
120,000.
347,464.

1,441,911.
1,305,612.
136,299.
1,016,886.

425,025.
258,786.
258,786.
5,790.
190,843.
57,450.
48,000.

467,464.
85,393.
47.
.97
.4
14.85
1.74
2.04
70.52

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.78
22.78
44.13
44.13
2.78
5.4
13.24
0.0
11.12
38.96
309

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0
0.0
0.0

0.0
-

2007
152,302.
408,862.
152,302.
18,709.
0.0
929,651.
267,011.
244,881.
250,061.
0.0
167,698.
491,809.
47,795.
444,014.
0.0
0.0
0.0
590,144.
120,000.
120,000.
0.0
470,144.
-

2008
216,819.
494,810.
216,819.
25,114.
0.0
1,001,191.
75,374.
348,155.
382,279.
2,289.
193,094.
541,178.
16,422.
524,756.
0.0
0.0
0.0
676,832.
120,000.
120,000.
0.0
556,832.
-

1,708,235.
1,537,357.
170,878.
1,242,144.

1,911,894.
1,784,252.
127,642.
1,404,284.

466,091.
271,115.

507,610.
318,339.
-

271,115.
-

318,339.
-

8,413.
227,992.
62,000.
84,000.
0.0

0.0
-

0.0

11,639.
233,919.
10,769.
51,600.
12,000.
-

2009
257,835.
1,212.
541,395.
243,000.
28,578.
4,349.
2,077.
7,197.
1,336,274.
232,122.
370,189.
526,560.
0.0
207,403.
768,815.
171.
768,644.
52,273.
0.0
17,239.
35,034.
773,021.
132,000.
132,000.
0.0
641,021.
641,021.
-

2011

(Thousand Rupees)
2010
2011
325,188.
366,230.
13,812.
4,110.
616,450.
657,858.
292,199.
308,558.
31,890.
40,593.
5,626.
2,150.
1,866.
1,652.
11,685.
49,760.
1,483,920.
1,631,367.
163,301.
70,453.
462,601.
399,185.
632,844.
866,753.
0.0
225,174.
294,976.
918,665.
1,258,172.
164,927.
57,791.
753,738.
1,200,381.
63,843.
35,446.
19,409.
21,688.
44,434.
13,758.
826,600.
703,979.
132,000.
132,000.
132,000.
132,000.
0.0
694,600.
571,979.
694,600.
571,979.
-

2,024,247.
2,047,989.
1,944,764.
1,815,201.
1,803,885.
1,768,759.
209,046.
244,104.
176,005.
1,522,737.
1,564,429.
1,615,960.
929,938.
1,047,522.
942,356.
592,799.
516,907.
673,604.
501,510.
483,560.
328,804.
319,004.
355,929.
511,008.
183,402.
214,023.
181,490.
135,602.
141,906.
329,518.
268,683.
289,639.
289,186.
10,421.
17,248.
16,235.
5,700.
12,753.
11,773.
213,788.
153,250. -156120
66,800.
45,500.
19,198.
46,200.
16,500.
0.0
0.0
289,729. -92165
74,079.

590,144.
0.0
81,992.
47,795.

676,832.
0.0
171,550.
16,422.

825,294.
0.0
100,788.
171.

1.05
.49
14.64
1.58
1.89
72.72

.85
.61
19.99
1.57
1.85
73.45

.99
.51
26.01
1.27
1.74
75.22

890,443.
739,425.
0.0
91,250. -175318
164,927.
57,791.
.87
.84
30.9
1.13
1.62
76.39

.74
.83
44.57
.97
1.3
83.09

0.0

0.0
0.0
0.0

0.0
0.0
0.0

0.0
0.0

0.0

.83
23.85
43.11
43.11
1.98
6.98
-

.8
20.34
36.93
36.93
4.32
5.49
-

13.35
0.0
13.83
49.18

12.23
0.0
18.6
56.4

1.06
15.2
29.49
28.46
3.18
5.47
38.51
10.56
.35
11.14
58.56

1.19
9.01
19.16
17.86
6.53
4.43
13.02
7.48
-.09
8.16
62.62

1.84
-8.2
-20.4
-19.16
4.87
-12.26
-8.03
.06
-13.28
53.33

Khyber Tobacco Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,958.
37,873.
3,958.
19.
0.0
1,135.
136.
0.0
0.0
0.0
999.
46,517.
3,431.
43,086.
0.0
0.0
0.0
-41424
12,018.
12,018.
0.0
-53442
11,506.
11,506.
0.0
7,750.
3,756.
2,806.
2,806.
0.0
2,855.
999.
0.0
0.0
-41424
0.0
1,856.
3,431.
0.0
0.0
0.0
2.26
.02
67.36

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
310

-1.12
40.15
-6.79
-6.95

24.81
0.0
1.54
-34.47

2011

Financial Statement Analysis of Non Financial Sector

2007

2008

2009

3,939.
-

3,921.
-

37,873.
3,939.
19.
0.0
-

5,767.
126.
4,404.
0.0
0.0
1,237.
41,187.
0.0
41,187.
0.0

0.0

37,873.
3,921.
18.
0.0 31,396.
3,147.
25,454.
0.0
0.0
2,795.
61,037.
0.0 61,037.
0.0
0.0

0.0
-31481
12,018.
12,018.
0.0
-43499
-

0.0
-25720
12,018.
12,018.
0.0
-37738
-

25,706.
25,706.
0.0
17,596.

69,874.
42,767.
27,107.
61,151.

4,859.

8,723.
2,637.
-

2,918.
-

2,637.
-

23.
-

101.
-

19,686.
1,125.
0.0
0.0
-

956.
48,822.
5,589.
10,727.
23,710.
0.0
8,796.
75,820.
75,820.
0.0

0.0
0.0
0.0

-22139
12,018.
12,018.
0.0
-34157
-34157
-

8,110.
2,918.

37,872.
3,903.
18.

17,664.
0.0
52,473.
16,711.
1,611.
0.0
0.0
953.
227,531.
25,622.
120,762.
59,927.
0.0
21,220.
135,698.
0.0
135,698.
4,620.
0.0
0.0
0.0
3,489.
1,131.
104,877.
12,018.
12,018.
0.0
92,859.
0.0
92,859.
0.0

242,451.
93,204.
149,247.
174,883.
163,514.
11,369.
67,568.
26,065.
15,050.
11,015.
9,050.
717.

7,027.
2,852.
0.0
4,391.

40,906.
6,069.
0.0
0.0
12,808.

424,521.
112,811.
311,710.
276,901.
261,708.
15,193.
147,620.
38,536.
18,219.
20,317.
19,842.
2,397.
0.0
110,594.
14,994.
0.0
0.0
21,825.

7,217.
1,458.
1,803. 0.0

-25720

2011

115,903.
97,296.
18,607.
104,729.
64,701.
40,028.
11,174.
4,098.
210.
3,888.
4,175.
119.

-31481

(Thousand Rupees)
2010
10,027.
40,223.
6,072.
182.
3,955.
104,851.
13,046.
43,205.
44,599.
0.0
4,001.
104,470.
104,470.
0.0
0.0
10,408.
12,018.
12,018.
0.0
-1610
-1610
-

-22139

0.0
18,561.
0.0

0.0
3,956.
0.0

0.0
4,175.
0.0

10,408.
0.0
34,837.
0.0

109,497.
0.0
95,600.
0.0

0.0
.09
0.0
2.65
.14
68.45

.05
.14
0.0
1.98
.51
87.52

.39
.1
20.46
2.16
.64
90.36

.55
.3
18.4
2.11
1.
72.13

.63
.56
14.12
1.73
1.68
65.23

-1.31
266.05
-54.
-54.
5.84
-

76.58
0.0
15.44
-26.19

-2.37
32.06
-25.23
-25.23
3.19 2.75
10.33
0.0
4.79
-21.4

-3.42
15.79
-29.37
-29.37

10.04
48.54
-697.4
-697.4

10.8

5.61

6.06
.06
3.47
-18.42

16.87
.12
28.99
8.66

1.34
61.43
191.86
184.47
-

3.52

26.05
.16
79.55
87.27

Leather Up Ltd.
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
17,698.
27,911.
17,698.
499.
0.0

55,393.
18,663.
30,687.
554.
0.0
5,489.
24,199.
14,895.
9,304.
0.0

0.0
0.0
48,892.
60,000.
60,000.
0.0
-11108

35,387.
35,387.
0.0
29,354.

6,033.
5,948.
5,948.
2,170.
-994
253.
0.0
0.0

48,892.
0.0
-1247
14,895.
.79
6.13
1.57
.48
2.29
82.95

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.49
-1.2
-1.79
-1.79
1.15
-2.81
0.0
-.21
8.15
311

Financial Statement Analysis of Non Financial Sector

2007

2008
17,257.

16,868.
-

27,911.
17,257.
440.
0.0
-

2009

27,911.
16,868.
389.
0.0
-

50,680.
17,896.
26,498.
1,314.
0.0
4,972.
26,076.
14,495.
11,581.
0.0

50,037.
20,945.
24,607.
1,544.
0.0
2,941.
30,919.
19,720.
11,199.
0.0

0.0
41,861.
60,000.
60,000.
0.0
-18139
-

0.0
35,986.
60,000.
60,000.
0.0
-24014
-

0.0

30,460.
30,460.
0.0
31,521.
-

-1061

-6736

5,418.
5,418.
2,066.

296.
0.0
0.0
-

0.0

17,703.
0.0
15,396.
4,005.
347.
0.0
0.0
13,698.
30,919.
3,649.
19,467.
301.
0.0
7,502.
15,719.
8,300.
7,419.
1,140.
0.0
0.0
0.0
1,140.
0.0
31,763.
60,000.
60,000.
0.0
-28237
0.0
-28237
0.0

(Thousand Rupees)
2010
2011
17,394.
35,184.
0.0
0.0
15,396.
17,482.
3,697.
4,358.
308.
65.
0.0
0.0
0.0
0.0
13,697.
30,826.
24,170.
56,506.
1,742.
9,063.
17,144.
34,460.
0.0
0.0
0.0
0.0
5,284.
12,983.
17,381.
47,101.
8,300.
8,000.
9,081.
39,101.
1,442.
19,928.
0.0
0.0
0.0
0.0
0.0
0.0
1,442.
19,928.
0.0
0.0
22,741.
24,661.
60,000.
60,000.
60,000.
60,000.
0.0
0.0
-37259
-35339
0.0 -37259
-35339
0.0
0.0

15,190.
24,937.
18,702.
15,190. -666
2,857.
0.0
25,603.
15,845.
17,314.
28,339.
21,588.
16,379.
14,365.
11,960.
7,223.
-2124
-3402
-2886
4,939.
11,240.
5,243.
2,419.
1,299.
4,939.
8,821.
3,944.
5,164.
3,331.
2,693.
3,309.
1,137.
2,861.
956.
-5727
-3525
-8838
148.
256.
184.
0.0
0.0
0.0
0.0
0.0
0.0
-4694
-1907
-

41,861.
0.0
14,495.

19,720.

8,300.

8,300.

.74
6.78
4.31
.45
1.94
103.48

.73
17.73
10.16
.23
1.62
113.98

.25
13.27
1.21
.51
1.97
113.64

.1
6.08
0.0
.45
1.39
115.43

.19
1.41
0.0
.78
1.2
79.25

-5875

32,902.
0.0
-3781

24,183.
0.0

71,482.
504.
70,978.
56,648.
51,117.
5,531.
14,834.
11,037.
6,603.
4,434.
5,857.
1,009.
924.
2,790.
742.
1,548.
0.0
7,686.
44,589.
0.0
500.
8,000.

-7032

35,986.
0.0

2011

-9022

.62
-9.55
-14.84
-14.84
-

.86
-8.49
-14.71
-14.71
-

1.15
-

.62

-22.11
0.0
-1.17
6.98

.53
-6.1
-10.41
-10.23

-37.7
0.0
-.98
6.

.83
-19.6
-32.43
-30.96
-

1.28
-.23
-14.14
-.28
-.63
5.29

1.09
-8.25
-47.25
-.1
-1.5
3.79

2.72
4.19
11.77
8.11
1.32
2.07
4.02
3.9
.11
.34
4.11

MACPAC Films Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,378,450.
1,657,805.
1,371,859.
98,634.
6,591.

188,609.
6,204.
50,186.
78,587.
0.0
53,632.
856,368.
344,071.
512,297.
360,237.

0.0
360,237.
350,454.
388,860.
388,860.
0.0
-38406

546,816.
540,999.
5,817.
539,511.

7,305.
23,536.
23,536.
72,773.
-89004
2,430.
0.0
0.0

710,691.
0.0
-91434
344,071.
.1
13.31
14.37
.35
.22
98.66

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.47
-5.47
-19.58
-9.
10.9
-16.28
0.0
-2.35
9.01
312

Financial Statement Analysis of Non Financial Sector

2007
1,249,365.
1,662,052.
1,245,171.
131,302.
4,194.
142,683.
1,309.
40,362.
50,197.
0.0
50,815.
514,598.
112,089.
402,509.
642,384.
0.0
642,384.
235,066.
388,860.
388,860.
0.0
-153794
-

2008
840,752.
1,268,211.
840,752.
98,245.
0.0
292,842.
62,804.
35,105.
42,413.
0.0
152,520.
630,901.
185,326.
445,575.
434,439.
0.0
434,439.
68,254.
388,860.
388,860.
0.0
-320606
-

468,063.
463,851.
4,212.
521,778.

404,916.
402,169.
2,747.
433,734.

-53715
28,071.
28,071.
121,433.
-202007
2,066.
0.0
0.0
-

-28818
28,997.
28,997.
96,845.
-230536
1,689.
0.0
0.0
-

2009
906,392.
0.0
1,183,148.
796,741.
417.
417.
0.0
109,234.
95,002.
3,918.
15,252.
45,256.
0.0
30,576.
505,349.
317,226.
188,123.
537,430.
308,182.
0.0
0.0
8,527.
220,721.
-41385
388,860.
388,860.
0.0
-430245
79,930.
-510175
0.0

(Thousand Rupees)
2010
2011
852,564.
719,614.
0.0
0.0
1,166,904.
1,004,346.
710,062.
577,507.
334.
61,744.
334.
267.
0.0
0.0
142,168.
141,840.
90,092.
252,170.
177.
6,274.
29,497.
155,735.
28,450.
46,996.
0.0
0.0
31,968.
43,165.
473,055.
473,118.
258,661.
128,051.
214,394.
345,067.
538,671.
395,545.
183,093.
58,361.
0.0
196,760.
0.0
0.0
9,083.
9,690.
346,495.
130,734.
-69070
103,121.
388,860.
388,860.
388,860.
388,860.
0.0
0.0
-457930
-285739
79,930.
79,930.
-537860
-365669
0.0
0.0

133,068.
227,956.
133,068.
224,879.
0.0
3,077.
190,446.
271,803.
16,815.
96,420.
173,631.
175,383.
-57378
-43847
22,711.
21,900.
4,856.
3,904.
17,855.
17,996.
26,777.
27,171.
48,704.
24,898.
52,892.
23,713.
-100317
-60508
0.0
1,285.
0.0
0.0 0.0
0.0 -15624
139,127.

877,450.
502,693.
496,045.
469,601.
0.0
0.0
308,182.
183,093.
-204073
-232225
-100317
-61793
112,089.
185,326.
625,408.
441,754.
.1
25.94
10.72
.34
.28
111.48

.17
23.92
10.47
.36
.46
107.12

2011

.1
36.6
34.01
.13
.19
143.12

.06
10.92
12.48
.24
.19
119.23

887,948.
887,948.
0.0
693,316.
502,961.
190,355.
194,632.
42,126.
3,455.
38,671.
29,438.
13,281.
11,833.
181,069.
8,879.

176,888.
498,666.
58,361.
172,190.
186,412.
.11
1.5
5.29
.91
.53
78.08

4.92
-13.65
-69.
-25.44
-

15.61
-18.26
-152.01
-33.41
-

11.6
-

11.53

-43.16
0.0
-5.25
6.05

-25.2
-9.4
-746.71
-20.09

-56.93
0.0
-5.97
1.76

-14.65
-6.22
109.56
-12.53
-

8.72
-.9
-75.39
-.01
-2.58
-1.06

8.42
18.92
1,063.52
37.4
-

7.73
-1.55
-26.54
.14
-1.59
-1.78

5.7
16.3
20.39
.2
4.43
2.65

Pak Leather Crafts Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
51,447.
152,495.
51,447.
5,887.
0.0

417,960.
8,742.
339,065.
40,714.
0.0
29,439.
400,498.
261,486.
139,012.
480.

0.0
480.
68,429.
34,000.
34,000.
0.0
34,429.

518,949.
12,192.
506,757.
443,021.

75,928.
39,453.
39,453.
25,638.
10,897.
5,725.
3,400.
0.0

68,909.
0.0
1,772.
261,486.
.12
4.94
7.85
1.11
1.04
85.37

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.86
2.32
15.87
15.58
1.52
1.53
2.1
0.0
1.52
20.13
313

Financial Statement Analysis of Non Financial Sector

2007

2008
50,351.

48,343.
-

155,950.
50,351.
5,727.
0.0
-

401,215.
10,049.
337,960.
31,487.
0.0
21,719.
379,677.
268,284.
111,393.
1,310.

37,465. 72,594.
2,982.
34,000.
34,000.
34,000.
34,000.
0.0
0.0
38,594. -31018
-31018
-

0.0

651,452.
3,448.
648,004.
572,248.
-

80,125.
44,539.
-

79,204.
41,152.
-

44,539.
-

41,152.
-

24,532.

29,831.
-

11,384.
6,500.
3,400.
0.0
-

8,230.
6,497.
0.0
0.0
-

71,889.
0.0
1,484.
268,284.
.11
4.09
5.25
1.33
1.06
86.63

1,695.
407,838.
2,515.
344,982.
26,426.
0.0
33,915.
367,023.

599,193.
24,694.
574,499.
519,068.
-

159,327.
45,649.
113,678.

367,023.
85,177.
51,921.
31,115.
0.0
2,141.

1,310.
70,579.
34,000.
34,000.
0.0
36,579.

158,054.
48,343.
4,112.
0.0 -

47,344.
-

467,618.
1,635.
396,358.
40,537.
0.0
29,088.
405,902.
266,246. 139,656.
37,465.

0.0

2009

377,094.
367,308.
9,786.
375,945.
242,788.
133,157.
1,149.
31,864.
20,981.
10,883.
68,679.
34,975.
30,522.
-65581
4,029.
0.0
-52030

2011

(Thousand Rupees)
2010
2011
43,645.
28,441.
0.0
159,259.
129,353.
42,026.
27,031.
117,233.
2,971.
0.0
0.0
1,619.
1,410.
314,935.
212,778.
210.
188.
258,969.
120,304.
42,581.
84,571.
0.0
0.0
13,175.
7,715.
398,456.
393,400.
280,330.
254,045.
118,126.
139,355.
73,627.
58,321.
38,117.
22,556.
33,857.
33,857.
0.0
1,653.
1,908.
0.0
0.0
-113503
-210502
34,000.
34,000.
34,000.
34,000.
0.0
0.0
-147503
-244502
0.0
-147503
-244502
0.0
180,114.
150,178.
29,936.
228,453.
121,162.
107,291.
-48339
27,760.
16,625.
11,135.
33,426.
39,081.
36,374.
-115044
1,600.
0.0
-4609

93,142.
3,353.
89,789.
161,255.
68,465.
92,790.
-68113
13,849.
8,165.
5,684.
7,931.
44,587.
42,633.
-95991
931.
-601

-152181
110,059.
88,159. -39876
0.0
51,921.
38,117.
22,556.
-116644
-96922
1,733. -69610
266,246.
51,921.
318,447.
276,601.
.1
4.58
6.22
1.26
1.15
87.84

.08
9.27
7.01
.83
1.11
99.7

.11
21.7
23.64
.5
.79
126.84

.22
47.87
90.8
.39
.54
173.13

5.4
2.47
16.38
16.17
1.44 1.77
1.9
0.0
1.44
20.76

6.11
1.7
11.5
9.05

151.64
-13.51
-173.55
-66.17
-

1.64
1.26
0.0
.51
21.35

-4.16
-28.27
208.18
-476.54
-

1.09
-1.15
-17.39
-.12
-20.47
.88

.7
-2.16
-63.87
-.01
-34.31 -33.38 -

-2.15
-31.92
59.25
99.96
.77
-1.25
-103.06
0.0

Pakistan Engineering Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,763,133.
2,059,019.
1,763,133.
11,021.
0.0

710,086.
32,916.
214,924.
212,784.
60,939.
188,523.
441,319.
255,678.
185,641.
1,792,381.

0.0
1,792,381.
239,519.
56,902.
56,902.
0.0
182,617.

959,886.
959,886.
0.0
742,444.

217,442.
92,595.
92,595.
17,994.
113,668.
4,174.
0.0
0.0

2,031,900.
0.0
109,494.
255,678.
.69
1.87
22.17
.39
1.61
77.35

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

9.33
4.53
61.52
5.75
4.47
11.84
0.0
19.24
42.09
314

Financial Statement Analysis of Non Financial Sector

2007
1,765,647.
2,072,913.
1,765,647.
12,098.
0.0
866,464.
104,921.
211,706.
261,185.
51,500.
237,152.
219,601.
41,103.
178,498.
1,941,110.
0.0
1,941,110.
471,400.
56,902.
56,902.
0.0
414,498.
-

2008
1,819,125.
2,137,195.
1,819,125.
13,077.
0.0
902,982.
24,482.
268,784.
366,921.
31,500.
211,295.
237,692.
27,461.
210,231.
1,940,555.
0.0
1,940,555.
543,860.
56,902.
56,902.
0.0
486,958.
-

1,123,150.
1,123,150.
0.0
899,987.
-

223,163.
76,248.

76,248.

8,591.

201,628.
4,917.
31,296.
0.0

2009
4,913,690.
2,559.
4,888,136.
4,592,772.
15,189.
318,359.
1,104,236.
28,250.
445,460.
347,364.
0.0
283,162.
366,390.
59,725.
306,665.
1,903,879.
1,003,406.
787,442.
0.0
113,031.
3,747,657.
56,902.
56,902.
0.0
-1046203
-1046203
4,736,958.

2011

(Thousand Rupees)
2010
2011
5,201,551.
5,213,867.
5,684.
12,971.
4,937,938.
4,971,193.
4,879,205.
4,884,234.
30,073.
29,981.
0.0
0.0
316,662.
316,662.
934,960.
1,074,134.
83,676.
58,335.
307,565.
421,776.
298,301.
379,676.
0.0
0.0
245,418.
214,347.
218,511.
463,792.
22,500.
108,638.
196,011.
355,154.
1,944,079.
1,909,333.
1,016,293.
1,008,183.
0.0
787,442.
787,442.
0.0
140,344.
113,708.
3,973,921.
3,914,876.
56,902.
56,902.
56,902.
56,902.
0.0
0.0
-996015
-1035849
0.0
-996015
-1035849
4,913,034.
4,893,823.

1,184,480.
1,361,633.
1,677,379.
712,177.
1,184,480.
1,361,633.
1,677,379.
712,177.
0.0 0.0
954,288.
1,035,306.
1,371,129.
677,119.
981,724.
901,741.
590,972.
53,582.
469,388.
86,147.
230,192.
326,327.
306,250.
35,058.
72,247.
86,413.
102,032.
80,555.
14,168.
11,961.
11,460.
72,247.
72,245.
90,071.
69,095.
91,431.
113,462.
98,846.
8,260.
83,052.
26,875.
17,540.
77,292.
20,382.
4,998.
168,469.
201,171.
183,223. -54725
59,022.
67,223.
69,091.
7,896.
0.0
71,128.
56,902. 0.0
0.0
0.0 90,487.
243,425. -59328

2,412,510.
0.0
165,415.
41,103.

2,484,415.
0.0
109,447.
27,461.

5,651,536.
1,790,848.
62,821.
1,850,573.

1.9
.76
23.25
.43
3.95
80.13

1.78
.7
30.98
.44
3.8
80.57

1.03
6.1
25.51
.23
3.01
76.03

5,918,000.
5,824,209.
1,803,735.
1,795,625.
57,230. -62621
1,826,235.
1,904,263.
1.75
1.6
17.78
.27
4.28
81.74

.94
2.46
53.31
.11
2.32
95.08

4.58
7.9
56.72
9.07
6.29 5.31
17.95
0.0
34.57
82.84

4.01
6.29
33.19
6.88
4.41
14.22
0.0
19.23
95.58

.61
4.6
9.38
4.95
1.88
3.06
3.6
14.77
.04
23.54
658.62

.54
3.01
4.75
3.17
2.01 5.45
9.99
10.92
.11
20.06
698.38

.61
-.88
-1.39
-.93
1.69
-9.95
-7.68
-.02
-11.01
688.

Pakistan Tobacco Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
4,529,366.
7,108,415.
4,529,366.
482,186.

4,205,034.
62,883.
3,790,853.
2,406.
5,000.
343,892.
4,595,213.
1,293,141.
3,302,072.

4,139,187.
2,554,938.
2,554,938.
1,584,249.

35,715,451.
35,715,451.
30,181,931.

5,533,520.
2,689,875.
2,689,875.
51,060.
2,860,673.
880,264.
1,890,654.

4,139,187.
89,755.
1,293,141.
.02
.14
.01
4.09
.92
84.51

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.11
34.25
73.55
73.55
1.05
9.42
8.01
0.0
7.75
16.2
315

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0
0.0
0.0

0.0
-

2007
5,154,326.
8,190,852.
5,154,326.
537,851.
0.0
4,671,906.
166,666.
3,998,181.
2,386.
5,000.
499,673.
5,803,375.
1,038,550.
4,764,825.
0.0
0.0
0.0
4,022,857.
2,554,938.
2,554,938.
0.0
1,467,919.
40,889,275.
40,889,275.
0.0
34,379,318.

0.0
-

2008
5,599,758.
9,100,682.
5,599,758.
594,843.
0.0
4,795,283.
69,172.
4,059,063.
2,666.
5,000.
659,382.
6,786,710.
572,397.
6,214,313.
0.0
0.0
0.0
3,608,331.
2,554,938.
2,554,938.
0.0
1,053,393.
-

6,509,957.
2,848,699.

2,848,699.

50,317.

0.0
-

3,713,575.
1,165,086.
996,426.
0.0

0.0

4,022,857.
0.0
1,552,063.
1,038,550.
.03
.12
.01
4.16
.81
84.08

2009
5,984,333.
469,070.
9,455,353.
5,483,038.
656,754.
32,225.
6,242,528.
47,874.
5,765,367.
1,684.
0.0
427,603.
6,856,780.
1,300,832.
5,555,948.
1,109,847.
0.0
0.0
1,109,847.
4,260,234.
2,554,938.
2,554,938.
0.0
1,705,296.
1,705,296.
-

(Thousand Rupees)
2010
2011
5,867,528.
6,141,232.
201,773.
690,845.
10,220,473. 10,663,710.
5,621,915.
5,426,487.
744,844.
774,143.
43,840.
23,900.
6,510,899.
7,177,282.
51,945.
109,631.
6,002,823.
6,462,330.
1,597.
1,202.
0.0
454,534.
604,119.
7,638,759.
8,902,541.
2,252,218.
1,783,623.
5,386,541.
7,118,918.
1,137,581.
1,082,038.
1,137,581.
1,082,038.
3,602,087.
3,333,935.
2,554,938.
2,554,938.
2,554,938.
2,554,938.
0.0
1,047,149.
778,997.
1,047,149.
778,997.
-

49,053,928. 21,666,525. 20,952,629.

49,053,928. 21,666,525. 20,952,629.
0.0 41,777,169. 13,442,066. 14,747,717.
10,954,093. 10,525,185.
2,487,973.
4,222,532.
7,276,759.
8,224,459.
6,204,912.
3,449,869.
3,861,493.
4,720,766.
2,246,014.
3,279,390.
3,449,869.
1,615,479.
1,441,376.
2,042,108.
2,184,463.
53,324. -59024
112,747.
3,893,717.
4,648,489.
1,418,009.
1,246,221.
1,626,083.
492,909.
2,443,798.
3,065,926.
855,904.
0.0
0.0
0.0
2,545,368.
1,148,900.
3,608,331.
5,370,081.
0.0
0.0
203,698. -43520
572,397.
1,300,832.
.01
.11
.01
4.72
.71
85.17

.01
-.27
.01
1.77
.91
62.04

2011

0.0
0.0

0.0

0.0
0.0
0.0
0.0

0.0
0.0
0.0

22,949,974.
22,949,974.
0.0
16,709,273.
13,063,819.
3,645,454.
6,240,701.
5,634,014.
3,129,938.
2,504,076.
2,098,338.
101,379.
0.0
559,275.
235,348.
255,494.
0.0
2,157,914.

4,739,668.
0.0
69,196.
2,252,218.

4,415,973.

.01
.54
.01
1.69
.85
70.39

.01
.44
.01
1.72
.81
72.81

0.0
68,433.
1,783,623.

1.44
40.02
91.
91.
2.56
10.23
-

1.88
38.51
102.05
102.05
1.08
12.09
-

9.08
0.0
9.97
15.75

1.87
41.1
118.15
103.55
.99
3.76
-

7.94
0.0
10.36
14.12

2.44
11.53
36.07
28.05
1.08
3.49

2.99
4.35
16.13
12.22
1.27
3.55

6.77
.13
3.62
14.1

2.44
.22
1.27
13.05

21.45
.32
11.83
16.67

Philip Morris (Pakistan) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,469,399.
4,257,470.
2,406,862.
376,869.
62,537.

3,511,604.
607,281.
2,009,053.
100,647.
400,115.
394,508.
1,024,722.
0.0
1,024,722.
0.0

0.0
0.0
4,956,281.
615,803.
615,803.
0.0
4,340,478.

20,619,711.
20,619,711.
0.0
16,443,164.

4,176,547.
1,854,028.
1,854,028.
10,654.
2,380,124.
822,000.
769,754.
123,160.

4,956,281.
0.0
788,370.
0.0
1.08
.05
.49
3.45
3.43
79.74

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.21
40.78
51.96
51.96
2.02
10.26
11.54
0.0
25.3
80.48
316

Financial Statement Analysis of Non Financial Sector

2007
2,805,140.
4,989,619.
2,805,140.
397,640.
0.0
3,788,069.
775,758.
2,463,179.
85,099.
0.0
464,033.
1,026,216.
0.0
1,026,216.
0.0
0.0
0.0
5,566,993.
615,803.
615,803.
0.0
4,951,190.
-

2008
3,322,278.
5,669,077.
3,322,278.
398,311.
0.0
6,117,506.
46,718.
5,327,107.
36,181.
1.
707,499.
3,445,823.
770,668.
2,675,155.
0.0
0.0
0.0
5,993,961.
615,803.
615,803.
0.0
5,378,158.
-

22,425,268.
22,425,268.
0.0
17,934,793.
-

4,490,475.
1,910,073.

1,910,073.

19,148.

2,631,296.
780,000.
523,432.
0.0

2009
3,889,196.
679,663.
6,202,477.
3,166,076.
483,052.
43,457.
6,703,558.
109,559.
5,880,236.
65,847.
0.0
647,916.
3,381,825.
789,525.
2,592,300.
391,000.
0.0
0.0
391,000.
6,819,929.
615,803.
615,803.
0.0
6,204,126.
6,204,126.
-

2011

(Thousand Rupees)
2010
2011
3,899,779.
4,000,574.
413,365.
1,033,489.
6,897,418.
6,655,141.
3,434,314.
2,907,963.
551,079.
534,206.
0.0
0.0
52,100.
59,122.
8,907,484.
8,245,590.
15,104.
28,088.
7,706,696.
6,776,689.
164,240.
210,781.
0.0
0.0
1,021,444.
1,230,032.
5,170,442.
5,461,986.
2,471,772.
2,810,170.
2,698,670.
2,651,816.
472,000.
221,000.
0.0
0.0
0.0
0.0
472,000.
221,000.
7,164,821.
6,563,178.
615,803.
615,803.
615,803.
615,803.
0.0
0.0
6,549,018.
5,947,375.
0.0
6,549,018.
5,947,375.
-

24,937,931. 13,400,669. 13,322,352. 12,586,982.

24,937,931. 13,400,669. 13,322,352. 12,586,982.
0.0 0.0
20,621,464.
8,431,334.
8,956,591.
9,460,827.
5,049,456.
5,549,885.
7,743,278.
3,381,878.
3,406,706.
1,717,549.
4,316,467.
4,969,335.
4,365,761.
3,126,155.
2,601,867.
3,482,977.
3,445,470.
3,370,381.
2,640,804.
2,560,141.
2,254,522.
2,601,867.
842,173.
885,329.
1,115,859.
1,109,809.
1,170,341.
1,738,162.
45,639.
89,336.
137,275.
308,690.
71,114.
128,293.
299,100.
1,745,319.
1,500,133.
876,679. -530749
537,059.
541,749.
223,117.
175,057.
554,223. 30,790.
0.0
0.0
0.0
0.0
0.0
1,122,363. -1062531
551,544.

5,566,993.
0.0
1,327,864.
0.0

5,993,961.
0.0
654,037.
770,668.

7,210,929.
0.0
958,384.
789,525.

.84
.09
.38
3.4
3.69
79.98

.02
.18
.15
2.64
1.78
82.69

.05
.67
.49
1.27
1.98
62.92

7,636,821.
6,784,178.
0.0
0.0
622,772. -705806
2,471,772.
2,810,170.
.03
1.03
1.23
1.04
1.72
67.23

.04
2.45
1.67
1.03
1.51
75.16

.18
41.85
50.01
50.01
3.54
9.1
-

.57
21.77
30.19
30.19
2.18 4.68
-

11.73
0.0
30.06
90.4

7.
0.0
19.62
97.34

.55
14.98
23.41
22.72
2.28
22.09
11.19
.3
15.56
110.75

.79
7.49
12.54
11.81
21.23
1.73
7.83
6.58
-.19
10.61
116.35

.87
-4.24
-7.73
-7.36
1.86
-.77
-4.22
.1
-11.46
106.58

Service Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
692,993.
1,284,385.
692,993.
59,386.
0.0

1,784,671.
5,866.
836,659.
718,959.
0.0
223,187.
1,445,040.
841,377.
603,663.
402,878.

0.0
402,878.
629,746.
120,288.
120,288.
0.0
509,458.

4,152,345.
3,267,663.
884,682.
3,572,405.

579,940.
288,762.
288,762.
156,489.
143,881.
26,108.
36,086.
0.0

1,032,624.
0.0
81,687.
841,377.
.5
3.77
17.31
1.68
1.24
86.03

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.93
5.99
24.1
15.45
3.26
4.96
3.47
0.0
9.79
52.35
317

Financial Statement Analysis of Non Financial Sector

2007
829,815.
1,477,659.
829,815.
81,587.
0.0
1,620,830.
7,485.
698,556.
652,980.
0.0
261,809.
1,319,419.
606,365.
713,054.
376,086.
0.0
376,086.
755,140.
120,288.
120,288.
0.0
634,852.
-

2008
887,382.
1,611,369.
887,382.
96,295.
0.0
2,454,492.
7,014.
1,182,566.
194,590.
0.0
1,070,322.
1,989,626.
925,853.
1,063,773.
310,558.
0.0
310,558.
1,041,690.
120,288.
120,288.
0.0
921,402.
-

2009
1,034,220.
103,005.
1,666,076.
920,720.
102,644.
10,495.
2,617,148.
208,445.
1,253,241.
793,032.
0.0
362,430.
1,797,360.
703,174.
1,094,186.
331,924.
142,073.
0.0
11,462.
178,389.
1,522,084.
120,288.
120,288.
0.0
1,401,796.
1,401,796.
-

(Thousand Rupees)
2010
2011
1,439,494.
1,636,789.
104,865.
68,755.
2,192,751.
2,546,830.
1,320,304.
1,543,297.
130,244.
158,819.
13,301.
0.0
14,325.
11,436.
3,103,365.
4,002,546.
247,951.
12,065.
1,358,128.
1,941,229.
897,675.
938,456.
0.0
0.0
599,611.
1,110,796.
2,375,987.
3,175,300.
1,197,905.
1,681,694.
1,178,082.
1,493,606.
467,046.
451,129.
214,263.
218,173.
0.0
0.0
12,943.
22,899.
239,840.
210,057.
1,699,826.
2,012,906.
120,288.
120,288.
120,288.
120,288.
0.0
0.0
1,579,538.
1,892,618.
0.0
1,579,538.
1,892,618.
0.0

4,871,917.
3,788,926.
1,082,991.
4,155,942.

6,877,304.
5,327,713.
1,549,591.
5,839,151.

7,680,237.
6,030,690.
1,649,547.
6,086,613.
4,284,905.
1,801,708.
1,593,624.
515,450.
179,308.
336,142.
954,325.
160,425.
116,372.
935,988.
222,271.
240,576.
0.0
887,469.

9,421,408. 11,549,029.
2,041,509.
3,237,667.
7,379,899.
8,311,362.
8,127,972.
9,979,793.
5,881,292.
7,655,508.
2,246,680.
2,324,285.
1,293,436.
1,569,236.
647,425.
837,492.
269,522.
322,751.
377,903.
514,741.
1,199,069.
1,451,548.
177,727.
237,695.
151,661.
210,089.
487,932.
534,619.
94,433.
115,461.
90,216.
150,360.
0.0
0.0
228,195. -242756

715,975.
335,730.

1,038,153.
406,689.
-

335,730.
-

406,689.
-

150,342.

165,194.
-

236,180.
37,459.
54,130.
0.0
-

2011

478,203.
127,803.
0.0
0.0
-

1,131,226.
0.0
144,591.
606,365.

1,352,248.
0.0
350,400.
925,853.

1,854,008.
142,073.
473,141.
845,247.

2,166,872.
214,263.
303,283.
1,412,168.

2,464,035.
218,173.
268,798.
1,899,867.

.5
3.09
13.4
1.99
1.23
85.3

.1
2.4
2.83
2.06
1.23
84.9

.56
2.09
10.33
2.1
1.46
79.25

.48
1.89
9.53
2.07
1.31
86.27

.3
2.06
8.13
2.05
1.26
86.41

2.25
9.58
34.11
21.83
3.67 6.97
4.85
0.0
16.52 62.78 -

2.21
16.51
53.23
38.51
5.82
6.95
0.0

1.4
26.77
73.02
58.39
2.97
6.13
9.04
12.19
.42
59.33
126.54

1.67
11.91
30.29
24.27
4.36
6.94
4.22
5.18
.08
32.71
141.31

1.8
10.5
28.8
23.09
2.79
5.95
3.54
4.63
-.07
34.85
167.34

Shield Corporation Ltd.(Transpak Corp.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
114,578.
228,962.
114,578.
13,519.
0.0

91,715.
1,370.
73,461.
1,738.
0.0
15,146.
75,103.
16,502.
58,601.
0.0

0.0
0.0
131,190.
30,000.
30,000.
0.0
101,190.

363,685.
363,685.
0.0
234,378.

129,307.
107,208.
107,208.
4,438.
17,902.
2,550.
3,750.
0.0

131,190.
0.0
11,602.
16,502.
.04
1.22
.48
1.76
1.22
64.45

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.57
9.36
14.31
14.31
4.09
4.95
4.92
0.0
5.12
43.73
318

Financial Statement Analysis of Non Financial Sector

2007
125,251.
252,084.
125,251.
15,131.
0.0
165,650.
799.
107,891.
35,111.
0.0
21,849.
162,294.
75,358.
86,936.
0.0
0.0
0.0
128,607.
30,000.
30,000.
0.0
98,607.
-

2008
154,782.
269,002.
154,782.
14,099.
0.0
145,335.
122.
99,313.
8,120.
0.0
37,780.
170,239.
72,039.
98,200.
0.0
0.0
0.0
129,878.
30,000.
30,000.
0.0
99,878.
-

2009
207,355.
46,956.
160,181.
129,667.
16,152.
30,732.
150,879.
372.
121,530.
5,471.
0.0
23,506.
148,218.
54,277.
93,941.
78,320.
0.0
13,320.
65,000.
131,696.
30,000.
30,000.
0.0
101,696.
101,696.
-

430,623.
430,030.
593.
286,043.

512,013.
510,919.
1,094.
370,277.

489,090.
486,557.
2,533.
342,278.
271,610.
70,668.
146,812.
125,260.
109,631.
15,629.
72,793.
10,150.
9,812.
11,863.
7,044.
0.0
9,000.
61,504.

661,130.
660,267.
863.
462,584.
359,401.
103,183.
198,546.
146,919.
128,995.
17,924.
86,928.
8,855.
8,383.
43,419.
3,308.
3,900.
0.0
48,681.

829,901.
829,289.
612.
624,048.
543,704.
80,344.
205,853.
151,662.
131,338.
20,324.
100,974.
15,331.
14,326.
40,362.
9,375.
3,900.
0.0
-67891

144,580.
125,033.

141,736.
125,391.
-

125,033.
-

125,391.
-

6,624.

7,186.
-

13,230.
2,500.
4,500.
0.0
-

(Thousand Rupees)
2010
275,584.
28,385.
142,154.
238,273.
17,974.
1,569.
7,357.
150,381.
469.
119,921.
4,887.
0.0
25,104.
146,301.
62,332.
83,969.
125,833.
75,000.
15,333.
35,500.
153,831.
39,000.
39,000.
114,831.
114,831.
-

2011

9,430.
250.
3,000.
0.0
-

2011
292,063.
18,493.
159,250.
259,903.
25,688.
811.
0.0
12,856.
329,817.
2,341.
280,716.
4,583.
0.0
42,177.
300,816.
169,309.
131,507.
140,593.
9,196.
75,000.
0.0
16,192.
40,205.
180,471.
39,000.
39,000.
0.0
141,471.
0.0
141,471.
0.0

128,607.
0.0
6,230.
75,358.

129,878.
0.0
6,180.
72,039.

210,016.
0.0
4,819.
54,277.

279,664.
0.0
36,211.
62,332.

321,064.
9,196.
27,087.
178,505.

.22
1.54
8.15
1.48
1.02
66.43

.05
1.4
1.59
1.71
.85
72.32

.04
2.08
1.12
1.37
1.02
69.98

.04
1.34
.74
1.55
1.03
69.97

.02
1.85
.55
1.33
1.1
75.2

1.26
5.32
10.18
10.18
2.38
3.99
-

1.31
3.19
7.3
7.3
3.06 5.16
-

3.07
0.0
3.58
42.87

1.84
0.0
3.06
43.29

1.72
3.6
9.07
6.98
4.02
2.21
2.43
.27
1.61
43.9

1.77
11.07
30.41
17.73
10.28
5.51
6.18
6.57
.18
10.28
39.44

2.45
7.7
24.15
13.44
7.95
2.96
3.82
4.86
-.15
7.95
46.27

Siddiqsons Tin Plate

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
944,978.
1,292,695.
944,978.
57,457.
0.0

1,660,388.
190,732.
1,079,358.
394,176.
0.0
-3878
1,160,512.
1,047,258.
113,254.
0.0

0.0
0.0
1,444,854.
713,819.
713,819.
0.0
731,035.

3,227,930.
3,227,930.
0.0
2,734,444.

493,486.
77,844.
77,844.
61,351.
355,762.
16,929.
71,382.
71,382.

1,444,854.
0.0
267,451.
1,047,258.
.5
1.9
12.21
1.24
1.43
84.71

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.8
13.65
24.62
24.62
4.75
2.99
11.02
0.0
4.75
20.24
319

Financial Statement Analysis of Non Financial Sector

2007
876,761.
1,337,540.
876,761.
49,406.
0.0
1,350,967.
363,382.
159,151.
702,013.
0.0
126,421.
605,159.
474,326.
130,833.
0.0
0.0
0.0
1,622,569.
785,201.
785,201.
0.0
837,368.
-

2008
843,555.
1,298,245.
843,555.
44,749.
0.0
2,134,798.
258,849.
1,031,817.
306,647.
0.0
537,485.
1,304,416.
1,115,541.
188,875.
0.0
0.0
0.0
1,673,937.
785,201.
785,201.
0.0
888,736.
-

3,510,254.
3,510,254.
0.0
3,101,940.

2,922,426.
2,922,426.
0.0
2,549,637.

408,314.
81,981.

372,789.
119,216.
-

81,981.
-

119,216.
-

62,223.

59,462.
-

266,027.
15,210.
117,780.
0.0
-

181,137.
11,989.
117,780.
0.0
-

1,622,569.
0.0
133,037.
474,326.
1.76
1.77
20.
1.58
2.23
88.37

2009
819,058.
17,540.
1,290,654.
793,962.
42,869.
7,556.
2,568,425.
82,973.
1,755,818.
410,320.
0.0
319,314.
1,956,180.
1,956,180.
133,976.
0.0
0.0
133,976.
1,297,327.
785,201.
785,201.
0.0
512,126.
512,126.
-

2011

(Thousand Rupees)
2010
2011
852,923.
827,186.
59,256.
18,292.
1,321,778.
1,378,876.
786,209.
801,335.
42,042.
41,973.
0.0
0.0
7,458.
7,559.
1,793,477.
1,991,198.
35,604.
11,305.
1,035,091.
1,309,839.
308,974.
377,254.
0.0
0.0
413,808.
292,800.
1,244,752.
1,521,553.
804,605.
1,182,618.
440,147.
338,935.
144,689.
147,441.
0.0
0.0
0.0
0.0
144,689.
147,441.
1,256,959.
1,149,390.
785,201.
785,201.
785,201.
785,201.
0.0
0.0
471,758.
364,189.
0.0
471,758.
364,189.
0.0

2,639,940.
3,247,871.
3,305,781.
2,625,728.
3,244,075.
3,296,965.
14,212.
3,796.
8,816.
2,412,527.
2,995,235.
3,019,283.
2,333,731.
2,547,336.
2,710,421.
78,796.
447,899.
308,862.
227,413.
252,636.
286,498.
117,290.
107,362.
146,219.
17,363.
21,073.
20,316.
99,927.
86,289.
125,903.
84,334.
97,317.
121,111.
139,503.
131,269.
156,578.
128,497.
123,023.
146,721.
-118165
66,611. -11516
-1659
-28459
34,590.
78,520.
58,890.
58,890.
0.0
0.0
0.0
-229629
677,770. -289019

1,673,937.
1,431,303.
1,401,648.
1,296,831.
0.0
0.0
0.0
0.0
-104996
51,368. 1,115,541.
0.0
804,605.
1,182,618.
.43
2.03
10.49
.98
1.64
87.24

.25
5.28
15.54
.78
1.31
91.39

.28
4.04
9.51
1.23
1.44
92.22

.26
4.74
11.41
1.17
1.31
91.33

.37
11.01
17.35
17.35
2.13
22.06
-

.78
6.96
10.99
10.99
1.44 2.83
-

7.58
0.0
3.19
20.66

6.2
0.0
2.15 21.32

1.61
-3.71
-7.95
-7.61

1.11
2.21
5.22
4.7
-

1.5
.08
-4.48
-.11

3.14
1.54
2.05
.49
-

16.52

16.01

1.45
-.42
-.96
-.85
-.78
2.52
.92
-.35
-.17
-

Thal Ltd. (Thal Jute Mills Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
272,300.
789,817.
272,300.
55,538.
0.0

2,941,183.
180,446.
1,609,536.
613,639.
294,439.
243,123.
767,316.
222,141.
545,175.
14,340.

0.0
14,340.
2,431,827.
69,566.
69,566.
0.0
2,362,261.

6,006,405.
5,622,165.
384,240.
4,851,992.

1,154,413.
292,522.
292,522.
13,920.
963,538.
300,053.
0.0
13,913.

2,446,167.
0.0
663,485.
222,141.
1.42
.23
10.22
1.87
3.83
80.78

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.32
39.61
52.97
52.63
3.73
16.04
0.0
47.69
174.79
320

Financial Statement Analysis of Non Financial Sector

2007
297,619.
868,915.
297,619.
67,621.
0.0
3,403,463.
865,478.
1,465,851.
507,898.
368,988.
195,248.
654,452.
190,973.
463,479.
13,515.
0.0
13,515.
3,033,115.
117,114.
117,114.
0.0
2,916,001.
-

(Thousand Rupees)
2008
2009
2010
2011
506,381.
6,043,884.
5,594,431.
5,488,153.
17,033.
5,729.
8,508.
1,121,898.
5,945,044.
6,067,090.
6,239,025.
506,381.
4,705,476.
4,453,068.
4,276,583.
62,832.
354,688.
406,840.
392,263.
0.0
6,912.
3,944.
4,243.
797,102.
942,948.
1,080,864.
517,361.
188,742.
117,955.
5,128,960.
4,305,646.
5,439,504.
6,183,266.
76,323.
598,641.
819,901.
1,011,644.
2,012,300.
2,692,050.
3,021,547.
3,612,156.
648,702.
403,077.
951,945.
695,710.
2,019,658.
25,338.
26,255.
115,598.
371,977.
586,540.
619,856.
748,158.
1,518,292.
2,705,623.
3,583,537.
3,716,681.
771,312.
895,626.
1,196,126.
907,124.
746,980.
1,809,997.
2,387,411.
2,809,557.
373,889.
958,544.
1,246,656.
864,644.
958,544.
1,246,656.
814,635.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
373,889.
0.0
0.0
50,009.
3,743,160.
6,685,363.
6,203,742.
7,090,094.
152,248.
213,147.
255,777.
306,932.
152,248.
213,147.
255,777.
306,932.
0.0
0.0
0.0
0.0
3,590,912.
6,472,216.
5,947,965.
6,783,063.
1,699,465.
101,678.
67,929.
4,772,751.
5,846,287.
6,715,134.
0.0
0.0
99.

6,896,020.
6,431,421.
464,599.
5,587,524.
-

9,861,759.
9,328,651.
533,108.
8,436,738.
-

1,308,496.
345,612.
-

1,425,021.
636,266.
-

345,612.
-

636,266.
-

31,455.

56,638.
-

1,078,935.
339,897.
81,980.
35,134.
-

2011

1,061,047.
0.0
0.0
60,899.
-

16,494,313.
16,009,425.
484,888.
14,445,869.
5,707,665.
8,738,204.
2,048,444.
1,730,431.
200,155.
1,530,276.
763,818.
289,866.
284,970.
522,227.
379,544.
42,629.
42,629.
1,030,382.

21,712,502.
21,087,158.
625,344.
18,495,635.
7,617,814.
10,877,821.
3,216,867.
1,921,689.
216,935.
1,704,754.
1,454,824.
235,815.
230,257.
1,799,521.
814,944.
204,622.
51,155.
1,007,558.

24,231,074.
23,527,783.
703,291.
21,224,914.
8,366,002.
12,858,912.
3,006,160.
2,033,722.
203,684.
1,830,038.
1,407,136.
290,144.
285,043.
1,465,114.
448,122.
153,466.
61,386.
1,067,851.

3,046,630.
0.0
657,058.
190,973.

4,117,049.
0.0
1,061,047.
771,312.

7,643,907.
958,544.
100,054.
1,854,170.

7,450,398.
1,246,656.
779,955.
2,442,782.

7,954,738.
814,635.
863,526.
1,721,759.

2.66
.46
7.37
1.86
5.2
81.03

1.81
.57
6.58
1.75
3.38
85.55

.38
1.76
2.44
1.59
1.59
87.58

.5
1.09
4.38
1.97
1.52
85.18

.49
1.2
2.87
2.08
1.66
87.59

.22
31.21
39.49
39.29
9.01 4.7
15.65
0.0
31.55
129.49

.51
22.73
31.32
29.62
4.9
10.76
0.0
34.85
122.93

.55
6.53
10.02
8.88
3.35
6.13
2.83
3.17
.28
6.69
313.65

.78
16.83
27.92
23.84
4.81
7.19
8.82
8.29
.21
38.49
242.54

.65
12.91
22.04
19.02
6.63
6.71
6.14
6.05
.23
16.57
115.5

Treet Corporation Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
475,402.
868,314.
475,402.
27,225.
0.0

1,556,843.
422,593.
253,276.
22,300.
642,902.
215,772.
772,041.
544,272.
227,769.
1,595.

0.0
1,595.
1,258,609.
41,822.
41,822.
0.0
1,216,787.

1,476,325.
1,109,991.
366,334.
1,198,103.

278,222.
196,903.
196,903.
22,402.
101,201.
10,001.
8,365.
0.0

1,260,204.
0.0
82,835.
544,272.
1.41
1.52
1.51
.73
2.02
81.15

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.61
5.3
8.06
8.05
10.9
5.83
6.85
0.0
21.81
300.94
321

Financial Statement Analysis of Non Financial Sector

2007
871,003.
1,087,772.
871,003.
40,834.
0.0
1,341,716.
133,281.
302,397.
93,318.
538,531.
274,189.
782,678.
544,972.
237,706.
507.
0.0
507.
1,429,534.
41,822.
41,822.
0.0
1,387,712.
-

2008
954,637.
1,433,429.
954,637.
57,719.
0.0
1,780,788.
119,376.
548,998.
148,333.
236,036.
728,045.
1,383,306.
1,128,971.
254,335.
0.0
0.0
0.0
1,352,119.
41,822.
41,822.
0.0
1,310,297.
-

1,457,197.
1,039,320.
417,877.
1,201,335.

1,287,954.
833,082.
454,872.
1,126,540.

255,862.
216,329.

161,414.
125,333.
-

216,329.
-

125,333.
-

60,285.

83,570.
-

102,261.
18,223.
8,364.
0.0
-

31,467.
5,085.
0.0
0.0
-

1,430,041.
0.0
75,674.
544,972.
.98
4.14
6.4
.66
1.71
82.44

2009
2,501,262.
231,411.
1,879,408.
1,373,630.
50,438.
754,810.
141,411.
1,053,598.
80,224.
251,451.
295,019.
124,590.
302,314.
1,583,471.
1,397,733.
185,738.
77,547.
0.0
0.0
77,547.
1,893,842.
41,822.
41,822.
0.0
1,081,687.
8,949.
1,072,738.
770,333.

(Thousand Rupees)
2010
2011
2,381,137.
2,799,360.
136,090.
190,945.
2,090,792.
2,231,413.
1,532,651.
1,469,246.
61,604.
77,415.
565,283.
848,742.
147,113.
290,427.
1,394,141.
1,865,537.
83,095.
78,549.
271,940.
360,247.
319,421.
706,993.
434,663.
359,494.
285,022.
360,254.
1,717,163.
2,355,830.
1,422,574.
1,877,415.
294,589.
478,415.
59,483.
82,904.
59,483.
82,904.
1,998,632.
2,226,163.
418,222.
418,222.
418,222.
418,222.
0.0
816,052.
1,049,557.
8,949.
8,949.
807,103.
1,040,608.
764,358.
758,384.

2,821,675.
1,818,627.
2,280,950.
2,139,355.
934,622.
1,284,291.
682,320.
884,005.
996,659.
2,300,787.
1,488,080.
1,773,942.
1,655,327.
895,684.
1,093,080.
645,460.
592,396.
680,862.
520,888.
330,547.
507,008.
413,427.
161,437.
159,641.
234,959.
51,545.
53,115.
178,468.
109,892.
106,526.
669,456.
331,528.
395,219.
168,827.
169,631.
225,437.
161,580.
164,087.
219,366.
-10493
200,948.
290,118.
21,950.
15,979.
50,023.
209,111.
41,822.
0.0
3,763,998.
-13736
81,089. -34640

1,352,119.
1,971,389.
2,058,115.
0.0
0.0
0.0
-24142
26,382. -32443
1,128,971.
1,397,733.
1,422,574.
.36
6.49
11.52
.47
1.29
87.47

2011

.32
5.98
10.46
.79
.67
81.54

.49
9.33
17.56
.48
.81
81.82

0.0

0.0
0.0
0.0
0.0

0.0

0.0

2,309,067.
0.0
198,273.
1,877,415.
.49
9.88
31.
.49
.79
77.77

.55
4.82
7.61
7.6
10.05 4.82
7.02
0.0
20.09
341.81

1.02
1.27
2.26
2.26

.88
-.33
-.65
-.63
-

2.35
2.44
0.0
6.31
323.3

11.22
.94
-.37
.05
-7.76
452.83

.89
5.48
10.32
9.97
.88
6.69
2.22
11.05
-.02
4.42
47.79

1.1
6.87
13.73
13.29
5.74
6.33
2.32
12.72
-.01
5.74
53.23

Tri-Pack Films Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,703,966.
2,786,027.
1,703,966.
228,582.
0.0

1,108,323.
208,867.
276,990.
465,422.
0.0
157,044.
974,225.
216,000.
758,225.
756,000.

0.0
756,000.
1,082,064.
300,000.
300,000.
0.0
782,064.

4,350,973.
4,027,323.
323,650.
3,842,205.

508,768.
145,907.
145,907.
130,595.
244,255.
19,198.
150,000.
0.0

1,838,064.
0.0
75,057.
216,000.
.69
3.
10.7
1.55
1.14
88.31

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.6
8.77
23.59
12.86
1.5
15.71
5.61
0.0
7.5
36.07
322

Financial Statement Analysis of Non Financial Sector

2007
1,608,744.
3,072,196.
1,608,744.
244,345.
0.0
1,732,911.
325,295.
640,772.
534,197.
50,389.
182,258.
1,549,047.
216,000.
1,333,047.
540,000.
0.0
540,000.
1,252,608.
300,000.
300,000.
0.0
952,608.
-

(Thousand Rupees)
2008
2009
2010
2011
2,111,285.
2,096,745.
1,873,582.
2,451,676.
6,021.
9,429.
636,408.
3,835,189.
4,114,167.
4,243,320.
4,542,656.
2,111,285.
2,069,838.
1,844,554.
1,794,346.
265,769.
328,074.
359,590.
356,668.
0.0
19,708.
17,836.
18,727.
0.0
0.0
0.0
1,178.
1,763.
2,195.
2,201,911.
2,420,082.
2,526,163.
3,741,824.
297,117.
229,766.
350,210.
476,434.
950,426.
1,201,391.
1,289,457.
1,542,124.
681,822.
887,659.
767,252.
991,922.
0.0
0.0
0.0
0.0
272,546.
101,266.
119,244.
731,344.
2,176,991.
2,035,195.
2,001,096.
3,544,749.
865,878.
606,312.
295,873.
1,229,758.
1,311,113.
1,428,883.
1,705,223.
2,314,991.
824,000.
885,352.
607,524.
427,554.
608,000.
375,000.
250,000.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
824,000.
277,352.
232,524.
177,554.
1,312,205.
1,596,280.
1,791,125.
2,221,197.
300,000.
300,000.
300,000.
300,000.
300,000.
300,000.
300,000.
300,000.
0.0
0.0
0.0
0.0
1,012,205.
1,296,280.
1,491,125.
1,921,197.
0.0
0.0
0.0
1,296,280.
1,491,125.
1,921,197.
0.0
0.0
0.0

5,386,091.
5,348,604.
37,487.
4,458,389.
-

7,100,211.
7,033,541.
66,670.
6,090,080.
-

927,702.
185,894.
-

1,010,131.
207,200.
-

185,894.
-

207,200.
-

93,167.

108,844.
-

674,370.
148,270.
300,000.
0.0
-

2011

723,657.
134,210.
420,000.
0.0
-

6,879,633.
6,637,063.
242,570.
5,888,981.
4,695,035.
1,193,946.
990,652.
253,141.
120,647.
132,494.
68,731.
221,723.
218,625.
558,834.
168,752.
300,000.
0.0
891,315.

7,620,571.
7,336,595.
283,976.
6,400,820.
4,972,452.
1,428,368.
1,219,751.
318,693.
148,458.
170,235.
82,523.
205,346.
201,083.
722,994.
275,702.
300,000.
0.0
1,309,747.

10,009,875.
9,754,703.
255,172.
8,252,920.
6,546,094.
1,706,826.
1,756,955.
487,794.
211,760.
276,034.
373,801.
122,429.
117,874.
1,199,030.
448,541.
600,000.
0.0
1,028,692.

1,792,608.
0.0
226,100.
216,000.

2,136,205.
0.0
169,447.
865,878.

2,481,632.
608,000.
90,082.
1,214,312.

2,398,649.
375,000.
147,292.
670,873.

2,648,751.
250,000.
150,489.
1,479,758.

.59
1.73
9.92
1.61
1.12
82.78

.45
1.53
9.6
1.65
1.01
85.77

.55
3.22
12.9
1.52
1.19
85.6

.56
2.69
10.07
1.73
1.26
83.99

.41
1.22
9.91
1.62
1.06
82.45

1.67
21.92
57.77
37.15
1.75
8.41
-

2.29
18.91
56.43
36.84
1.4
7.47
-

12.52
0.0
17.54
41.75

10.19
0.0
19.65
43.74

1.83
12.66
38.43
24.2
1.3
5.73
3.56
8.12
.31
13.
53.21

1.46
16.22
42.69
29.63
1.49
5.91
4.6
9.49
.5
14.91
59.7

1.79
22.64
59.77
47.51
1.25
6.49
11.17
11.98
.26
25.02
74.04

United Brands Ltd.(Udl Industries Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,209.
3,676.
1,917.
215.
292.

60,651.
11,914.
22,836.
10,407.
0.0
15,494.
57,239.
260.
56,979.
0.0

0.0
0.0
5,621.
12,000.
12,000.
0.0
-6379

122,510.
122,510.
0.0
108,294.

14,216.
9,209.
9,209.
492.
4,515.
1,580.
0.0
0.0

5,621.
0.0
2,935.
260.
.39
.4
8.49
1.95
1.06
88.4

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

10.18
14.08
135.4
135.4
5.36
3.69
0.0
2.45
4.68
323

Financial Statement Analysis of Non Financial Sector

2007

2008
11,578.

7,540.
-

12,525.
6,927.
1,827.
613.
-

113,299.
7,208.
59,630.
147,775.
0.0
-101314
116,215.
1,032.
115,183.
3,564.
0.0
3,564.
5,098.
12,000.
12,000.
0.0
-6902
-

147,851.
11,396.
72,375.
23,005.
0.0
41,075.
148,532.
1,239.
147,293.
1,786.
0.0
1,786.
5,073.
12,000.
12,000.
0.0
-6927
-

334,720.
334,720.
0.0
291,039.
-

46,381.
74,292.
-

74,040.
-

74,292.
-

1,568.

1,378.
-

6,210.
3,895.
0.0
0.0
-

12,525.
6,927.
1,298.
340.
-1298
161,935.
20,200.
76,504.
26,093.
0.0
39,138.
106,684.
1,382.
105,302.
73,585.
0.0
3,287.
70,298.
-12365
12,000.
12,000.
0.0
-24365
-24365
-

514,813.
514,813.
0.0 468,432.

43,681.
74,040.
-

5,969.
-

15,632.
11,212.
2,752.
366.
-

2009

6,036.
2,395.
12,000.
0.0
-

2011

(Thousand Rupees)
2010
2011
4,991.
8,745.
0.0
12,525.
17,831.
4,871.
8,745.
1,037.
1,153.
120.
0.0
0.0
0.0
0.0
194,592.
242,636.
31,757.
48,576.
84,101.
125,399.
45,252.
33,795.
0.0
0.0
33,482.
34,866.
138,441.
212,595.
249.
1,249.
138,192.
211,346.
72,098.
84,255.
2,175.
0.0
0.0
1,058.
0.0
71,040.
82,080.
-10956
-45469
12,000.
12,000.
12,000.
12,000.
0.0
0.0
-22956
-57469
0.0
-22956
-57469
0.0

580,269.
580,269.

521,829.
525,958.
-4129
58,440.
73,778.
49,817.
23,961.
25,933.
1,528.
-16866
0.0
-8268

711,461.
711,461.
0.0
624,298.
0.0
624,298.
87,163.
64,635.
52,077.
12,558.
27,053.
11,853.

831,475.
831,475.
0.0
739,657.
0.0
739,657.
91,818.
93,999.
57,339.
36,660.
28,026.
29,967.
-

10,675. -31984
22,877.
1,677.
0.0
0.0
0.0
0.0
12,226.
8,691.

8,662.
6,859.
61,220.
61,142.
38,786.
0.0
0.0
0.0
0.0
2,175.
-16866
-12202
-33661
2,315. -8359
1,032.
1,239.
1,382.
249.
3,424.
1.33
.47
44.15
2.68
.97
86.95

.23
.27
4.47
3.31
1.
90.99

.43
.26
4.5
3.46
1.52
89.93

.56
1.67
6.36
3.56
1.41
87.75

.39
3.6
4.06
3.31
1.14
88.96

23.5
6.62
115.87
86.96
-

5.61

1.86
0.0
1.93
4.25

29.63
4.31
118.69
77.78
.3 7.11
1.17
0.0
3.03
4.23

-14.58
-10.43
462.59
-49.55

-19.22
5.81
-91.55
17.45

-6.53
-14.18
113.37
-64.01

8.46

6.63

1.5
.06
-10.17
-9.13

-3.85
.03
-28.05
-37.89

7.58

-2.91
-.05
-14.06
-10.3

ZIL Ltd. (Zulfeqar Industries Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
211,221.
252,172.
211,221.
19,097.

270,109.
47,737.
121,857.
7,893.
49,201.
43,421.
235,441.
19,729.
215,712.
1,497.

1,497.
244,392.
40,000.
40,000.
204,392.

1,135,250.
1,135,250.
861,203.

274,047.
181,782.
181,782.
3,158.
89,512.
26,326.
20,000.

245,889.
43,186.
19,729.
.45
.28
.7
2.36
1.15
75.86

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.97
19.91
36.46
34.93
3.16
9.32
7.88
0.0
15.8
61.1
324

Financial Statement Analysis of Non Financial Sector

2007
278,189.
309,437.
276,641.
22,514.
0.0
1,548.
280,817.
59,067.
134,432.
4,726.
27,930.
54,662.
251,767.
0.0
251,767.
0.0
0.0
0.0
0.0
307,239.
40,000.
40,000.
0.0
0.0
267,239.
1,149,029.
1,149,029.
0.0
883,475.

0.0
-

2008
274,961.
330,144.
273,967.
25,738.
994.
369,392.
34,161.
258,767.
10,633.
0.0
65,831.
324,650.
0.0
324,650.
0.0
0.0
0.0
319,703.
44,000.
44,000.
0.0
275,703.
-

265,554.
208,166.

208,166.

1,870.

0.0
-

62,122.
12,436.
12,000.
4,000.

0.0

2009
293,088.
12,342.
332,888.
255,653.
25,545.
1,656.
23,437.
433,764.
124,573.
204,835.
25,449.
25,000.
53,907.
273,440.
273,440.
86,865.
86,865.
366,547.
48,400.
48,400.
239,263.
239,263.
78,884.

2011

(Thousand Rupees)
2010
2011
296,943.
349,202.
8,914.
5,328.
356,787.
440,672.
262,987.
328,213.
25,601.
27,549.
1,423.
7,906.
23,619.
7,755.
465,717.
516,410.
103,246.
45,299.
282,281.
370,943.
21,280.
29,780.
5,000.
53,910.
70,388.
286,115.
359,401.
80,000.
286,115.
279,401.
90,164.
103,122.
65,214.
90,164.
37,908.
386,381.
403,089.
53,240.
53,240.
53,240.
53,240.
249,834.
255,901.
249,834.
255,901.
83,307.
93,948.

1,391,181.
1,350,144.
1,289,891.
1,566,091.
1,391,181.
1,350,144.
1,289,891.
1,566,091.
0.0 1,105,437.
990,889.
951,249.
1,226,184.
850,223.
782,496.
1,046,890.
140,666.
168,753.
179,294.
285,744.
359,255.
338,642.
339,907.
249,557.
278,998.
302,689.
306,554.
223,607.
243,349.
224,017.
249,557.
55,391.
59,340.
82,537.
127,727.
142,569.
178,732.
3,882.
6,682.
696.
4,715.
6,002.
34.
4,114.
36,879.
80,326.
48,230.
33,078.
16,865.
29,082.
17,144.
11,364.
4,400. 18,634.
10,648.
4,400.
12,400.
17,240.
-67768
139,130. -5657

307,239.
0.0
37,686.
0.0

319,703.
0.0
15,614.
0.0

453,412.
0.0
51,244.
0.0

476,545.
0.0
12,452.
0.0

506,211.

.36
.16
.41
2.06
1.12
76.89

.14
.28
.76
2.16
1.14
79.46

.64
.49
1.88
1.86
1.59
73.39

.45
.05
1.65
1.69
1.63
73.75

.21
.3
1.9
1.81
1.44
78.3

0.0

0.0

0.0
0.0
0.0

0.0
0.0

0.0

0.0

0.0
11,066.
80,000.

.82
11.94
22.52
22.46
4.14
8.55
-

1.02
6.13
11.76
11.76
4.55 5.38
-

5.41
0.0
12.42
76.81

2.65
0.0
4.55
72.66

.98
11.72
23.41
20.78
6.59
14.38
5.95
.39
10.59
75.73

.97
6.48
12.81
10.37
1.67
4.57
1,419.53
3.74
-.02
5.84
72.57

1.15
4.06
8.38
6.73
2.04
4.22
9.04
2.11
-.15
4.08
75.71

OTHER NON-METALLIC MINERAL

PRODUCTS

INERAL

Other Non-Metallic Mineral Products - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
137,960,505.
173,297,285.
137,543,567.
3,779,998.
416,938.

47,600,651.
6,164,815.
4,085,836.
2,420,473.
19,559,631.
15,369,896.
47,924,452.
17,227,615.
30,696,837.
58,209,190.

4,904,612.
53,304,578.
79,427,514.
37,337,798.
36,309,332.
1,028,466.
42,089,716.

87,711,923.
82,394,969.
5,316,954.
63,719,648.

23,992,275.
3,760,503.
3,760,503.
3,352,851.
17,892,101.
1,325,181.
2,479,202.
847,472.

137,636,704.
4,904,612.
14,087,718.
22,132,227.
.59
3.82
2.76
.47
.99
72.65

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.34
11.74
27.04
16.08
6.68
21.47
20.4
0.0
4.55
21.81
327

Financial Statement Analysis of Non Financial Sector

2007
169,009,755.
209,534,009.
168,967,475.
7,604,666.
42,280.
69,609,507.
5,546,088.
5,770,903.
3,043,208.
32,476,821.
22,772,487.
65,293,742.
23,143,834.
42,149,908.
65,460,790.
5,260,825.
60,199,965.
107,864,730.
44,173,506.
43,145,040.
1,028,466.
63,691,224.
-

2008
186,060,803.
244,485,903.
186,031,813.
7,974,768.
28,990.
90,926,915.
5,867,688.
7,980,484.
5,184,918.
28,510,519.
43,383,306.
82,821,989.
39,160,520.
43,661,469.
67,725,849.
12,796,715.
54,929,134.
126,439,880.
58,225,147.
57,196,681.
1,028,466.
68,214,733.
-

2009
248,562,360.
37,098,695.
266,061,246.
198,994,163.
9,091,997.
1,164,285.
8,220,202.
3,085,015.
59,429,939.
3,860,859.
11,205,337.
5,289,276.
8,790,729.
30,283,738.
87,869,525.
54,893,919.
32,975,606.
95,029,267.
57,227,152.
5,128,049.
14,949,680.
653,278.
17,071,108.
125,093,507.
59,388,857.
58,360,391.
1,028,466.
46,176,451.
28,317,005.
17,859,446.
19,528,199.

2011

(Thousand Rupees)
2010
2011
264,072,469. 266,597,153.
28,419,765. 32,542,442.
305,238,127. 331,643,887.
221,232,709. 209,940,828.
9,449,524. 10,084,424.
62,813.
73,765.
9,834,373. 11,181,341.
4,522,809. 12,858,777.
61,302,741. 70,852,209.
2,162,237.
3,870,226.
9,219,222. 11,686,267.
5,206,674.
4,722,693.
12,409,183. 12,684,923.
32,305,425. 37,888,100.
98,628,508. 97,463,298.
58,371,175. 52,946,282.
40,257,333. 44,517,016.
93,813,063. 92,604,685.
60,845,412. 57,500,639.
4,027,678.
6,547,332.
14,764,800. 11,833,000.
722,114.
861,063.
13,453,059. 15,862,651.
132,933,639. 147,381,379.
61,194,985. 71,076,802.
60,166,519. 70,053,482.
1,028,466.
1,023,320.
47,237,419. 53,409,120.
33,952,203. 37,825,671.
13,285,217. 15,583,449.
24,501,235. 22,895,457.

92,740,709. 122,491,518. 145,171,686. 130,309,424.

83,545,605. 98,681,928. 100,784,042. 89,390,818.
9,195,104. 23,809,590. 44,387,644. 40,918,606.
80,925,139. 109,845,503. 106,610,552. 108,869,326.
18,031,354. 20,746,137.
88,579,198. 88,123,189.
11,815,570. 12,646,015. 38,561,134. 21,440,098.
4,561,089.
9,675,382. 17,475,040. 16,612,624.
11,511,525. 12,353,598.
4,561,089.
9,675,382.
5,963,515.
4,259,026.
3,379,718.
3,762,307.
6,184,085.
9,107,723. 16,227,843. 13,444,733.
14,685,732. 12,646,478.
5,122,623. -4110021
7,171,458. -5595442
379,622.
661,330.
1,681,011.
1,614,249.
1,456,322.
834,233.
7,381,380.
8,373,959.
67,306.
191,822.
971,032.
96,985.
21,938,050.
7,815,271.

150,742,720.
113,376,872.
37,365,848.
120,648,492.
20,021,238.
100,627,254.
30,094,228.
15,685,179.
10,882,176.
4,803,003.
9,026,602.
13,810,474.
13,158,377.
3,064,543.
2,135,666.
1,881,247.
0.0
8,436,457.

173,325,520. 194,165,729. 220,122,774. 226,746,703. 239,986,064.

5,260,825. 12,796,715. 72,176,832. 75,610,212. 69,333,639.
-1890933
-15583650
-952370
3,286,679. -5605584
28,404,659. 51,957,235. 127,070,751. 133,981,387. 122,279,921.
.63
6.67
3.28
.39
1.07
87.26

.48
7.44
4.23
.44
1.1
89.68

.2
11.18
3.64
.47
.68
73.44

.2
10.32
4.
.4
.62
83.55

.22
9.16
3.13
.45
.73
80.04

1.21
2.42
5.47
3.29
3.26
16.07
-

1.19
-1.59
-3.51
-2.24
-5.72
15.35
-

5.52
0.0
1.1
24.92

-3.36
0.0
-.88
23.19

1.46
2.45
5.7
3.46
.74
12.96
1.49
4.94
.12
.94
21.3

1.45
-1.77
-4.34
-2.5
-.86
14.13
.56
-4.29
.04
-1.19
21.96

1.29
.92
2.19
1.31
.49
12.9
1.23
2.03
.04
.13
20.82

Growth with Composition of

300
250
200
150
Billion Rs
100
.9%
50
0
Non-Current Assets

Growth & Composition of Oper

160
140
120
100
80
60
Billion Rs
40
20
0
-20

Sales

Profitability/Efficiency Ratios
3
2
1
0
Percentage -1
-2

.92

Return on Return on
Assets

Equity
-1.77

-3
-4
-5

-4.34

Growth with Composition of Assets & Liabilities

13.5%

-1.2%

Current Assets

Current Liabilities

2010

2011

-1.3%

Non-Current
Liabilities

Shareholders Equity
Growth

Growth & Composition of Operations

2010

2011
282.6%

13.6%

28.8%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

2010
2.19
1.31

Return on
Capital
Employed
-2.5

2011
3
2
1
0
-1
Percentage -2
-3
-4
-5

1.45 1.29
0.62 0.73
Current
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

-4.29

1,600.%
1,400.%
1,200.%
9.8% 1,000.%
800.%
600.%
400.%
200.%
0.0%

-200.%
-400.%
hareholders Equity

Growth
30,000.%

25,000.%
20,000.%
15,000.%

10,000.%
5,000.%
0.0%
2010
2.03
2011
.13
Earning
Per Share
after Tax

-1.19

CEMENT

Cement - Overall
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
132,804,755.
165,653,454.
132,365,472.
3,287,786.
439,283.

43,579,592.
6,003,489.
2,701,960.
1,367,259.
19,558,705.
13,948,179.
43,401,030.
15,522,701.
27,878,329.
57,371,942.

4,904,612.
52,467,330.
75,611,375.
35,785,663.
34,757,197.
1,028,466.
39,825,712.

79,237,136.
74,355,399.
4,881,737.
56,955,203.

22,281,933.
3,008,800.
3,008,800.
3,064,713.
17,064,704.
1,227,536.
2,270,196.
687,530.

132,983,317.
4,904,612.
13,566,972.
20,427,313.
.62
3.87
1.73
.45
1.
71.88

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.33
11.81
27.08
15.91
6.98
29.33
21.54
0.0
4.56
21.75
331

Financial Statement Analysis of Non Financial Sector

2007
163,028,547.
199,971,801.
162,986,267.
7,054,871.
42,280.
64,948,539.
5,304,362.
4,221,748.
2,010,764.
32,469,404.
20,942,261.
60,025,504.
21,061,968.
38,963,536.
64,291,977.
5,260,825.
59,031,152.
103,659,605.
42,396,793.
41,368,327.
1,028,466.
61,262,812.
-

2008
179,119,158.
233,505,335.
179,090,168.
7,368,612.
28,990.
85,454,020.
5,629,816.
6,259,443.
4,015,746.
28,503,201.
41,045,814.
77,604,012.
37,196,671.
40,407,341.
65,372,228.
12,796,715.
52,575,513.
121,596,938.
55,909,628.
54,881,162.
1,028,466.
65,687,310.
-

2009
238,138,598.
36,789,721.
252,114,730.
189,017,987.
8,011,304.
1,164,285.
8,220,202.
2,946,403.
53,237,536.
3,593,426.
8,838,242.
4,304,857.
8,790,729.
27,710,282.
82,656,967.
54,166,390.
28,490,577.
89,326,711.
53,117,385.
4,419,344.
14,949,680.
576,102.
16,264,200.
119,392,456.
56,689,291.
55,660,825.
1,028,466.
43,304,704.
28,317,005.
14,987,699.
19,398,461.

2011

(Thousand Rupees)
2010
2011
252,893,057. 254,218,066.
27,791,952. 30,938,893.
289,941,096. 295,541,419.
210,949,962. 199,444,748.
8,571,321.
9,136,776.
62,813.
73,765.
9,834,373. 11,181,341.
4,253,957. 12,579,319.
54,691,900. 63,916,553.
1,886,277.
2,928,513.
7,044,531.
9,386,389.
3,267,875.
3,170,683.
12,409,183. 12,684,923.
30,084,034. 35,746,045.
93,050,549. 91,139,876.
57,278,401. 51,709,433.
35,772,148. 39,430,443.
88,005,814. 87,987,161.
56,696,881. 54,461,526.
3,530,598.
6,050,252.
14,764,800. 11,833,000.
640,683.
775,065.
12,372,852. 14,867,318.
126,528,594. 139,007,582.
58,277,252. 67,239,445.
57,248,786. 66,216,125.
1,028,466.
1,023,320.
44,551,024. 50,000,670.
33,261,806. 36,701,627.
11,289,219. 13,299,043.
23,700,318. 21,767,467.

83,473,415. 111,752,228. 132,754,165. 114,526,565. 133,535,398.

75,106,250. 88,896,079. 89,750,783. 74,788,742. 97,267,642.
8,367,165. 22,856,149. 43,003,382. 39,737,823. 36,267,756.
73,361,455. 100,879,207. 96,648,470. 96,320,698. 107,062,578.
13,760,456. 15,797,490. 16,488,498.
82,888,014. 80,523,208. 90,574,080.
10,111,960. 10,873,021. 36,105,695. 18,205,867. 26,472,820.
3,654,536.
8,627,277. 16,205,230. 15,074,970. 13,777,704.
10,752,560. 11,319,326.
9,743,024.
3,654,536.
8,627,277.
5,452,670.
3,755,644.
4,034,680.
1,988,120.
2,116,093.
7,067,412.
5,853,171.
8,680,088. 15,490,916. 12,563,351. 12,988,752.
14,123,080. 11,825,364. 12,411,814.
4,553,061. -4509355
6,503,948. -6488307
2,021,492.
316,689.
482,530.
1,397,433.
1,231,164.
1,708,411.
1,266,644.
648,108.
7,098,039.
8,072,235.
1,683,180.
0.0
117,052.
882,864.
0.0
20,627,930.
6,630,273.
6,187,293.

167,951,582. 186,969,166. 208,719,167. 214,534,409. 226,994,743.

5,260,825. 12,796,715. 68,067,065. 71,461,681. 66,294,526.
-1991524
-15791706
-1370099
2,969,728. -5639993
26,322,793. 49,993,386. 122,233,455. 128,740,082. 118,003,959.
.66
7.01
2.41
.37
1.08
87.89

.49
7.77
3.59
.42
1.1
90.27

.2
11.67
3.24
.46
.64
72.8

.19
10.97
2.85
.37
.59
84.1

.21
9.73
2.37
.42
.7
80.18

0.0

1.2
2.25
5.08
3.03
3.34
19.77
-

1.18
-1.83
-4.
-2.54
-7.7
17.85
-

5.45
0.0
1.02
25.06

-4.04
0.0
-.96
23.36

1.44
2.34
5.4
3.29
.72
15.02
1.46
4.9
.12
.92
21.45

1.43
-2.17
-5.28
-3.07
-.96
16.26
.45
-5.67
.04
-1.35
22.1

1.29
.65
1.52
.92
.19
14.23
1.16
1.51
.03
.05
20.99

Growth with Composition of

300
250
200
150
Billion Rs
100
.5%
50
0
Non-Current Assets

Current Assets
2010

Growth & Composition of Operations

160
140
120
100
80
60
Billion Rs
40
20
0
-20

14.2%
Sales

Profitability/Efficiency Ratios
2
1
0
-1
-2
Percentage

1.52
.65

Return on Return on
Assets
Equity

-3
-4
-5
-6

Return on
Capital

-2.17

Employed
-3.07
-5.28

2010

2011

Growth with Composition of Assets & Liabilites

2,000.%
1,500.%

14.4%

9.% 1,000.%
500.%
0.0%

0.0
-2.1%
Current Liabilities

-500.%
Shareholders Equity

Non-Current
Liabilities

2011

Growth

omposition of Operations
2010

2011

Growth
45,000.%
421.% 40,000.%
35,000.%
30,000.%
25,000.%
20,000.%
15,000.%
10,000.%
5,000.%
0.0%

31.2%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

2
.92

1.43 1.29

1.51
.05

0.59 0.7
1
0
-1

Current
Ratio

Debt
Equity

Net
Profit

Earning
Per Share

Ratio

Margin

after Tax

2010

2011

-2
Percentage -3
-4
-5
-6

-5.67

-1.35

Al-Abbas Cement Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,198,261.
3,970,271.
3,197,844.
61,131.
417.

620,954.
118,057.
136,937.
24,745.
341,215.
769,280.
136,287.
632,993.
1,889,731.

1,889,731.
1,160,204.
1,142,781.
1,142,781.
17,423.

1,258,985.
1,172,889.
86,096.
1,232,541.

26,444.
29,881.
29,881.
73,356.
-75025
4,598.

3,049,935.
-79623
136,287.
.19
5.83
1.97
.33
.81
97.9

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.29
-2.63
-9.72
-3.73
9.19
-5.96
0.0
-.7
10.15
333

2011

Financial Statement Analysis of Non Financial Sector

2007
3,867,044.
4,705,282.
3,866,835.
69,490.
209.
575,922.
2,366.
144,846.
948.
0.0
0.0
427,762.
1,331,257.
596,697.
734,560.
1,730,614.
0.0
0.0
1,730,614.
1,381,095.
1,142,781.
1,142,781.
0.0
0.0
238,314.
-

(Thousand Rupees)
2008
2009
2010
4,236,771.
4,568,379.
4,607,827.
815,262.
5,143,264.
4,551,112.
5,439,563.
4,236,771.
3,539,718.
4,352,502.
68,046.
105,384.
77,307.
0.0
0.0
0.0
213,399.
255,325.
1,037,104.
1,355,532.
694,771.
9,366.
12,421.
3,547.
243,339.
427,276.
116,666.
297,892.
33,137.
63,923.
0.0
0.0
486,507.
882,698.
510,635.
1,165,966.
1,454,512.
1,619,955.
209,212.
495,422.
988,090.
956,754.
959,090.
631,865.
2,512,286.
2,751,963.
2,685,822.
2,506,350.
2,250,000.
234,076.
417,327.
0.0
0.0
11,537.
18,495.
2,512,286.
0.0
1,595,623.
1,717,436.
996,821.
1,828,450.
1,828,450.
1,828,450.
1,828,450.
1,828,450.
1,828,450.
0.0
0.0
-232827
-111014
-831629
0.0
-111014
-831629
0.0

285,488.
285,488.
0.0
414,708.
-

-129220
28,708.
28,708.
16,735.
-168768
1,061.
0.0
0.0
0.0
0.0
-

0.0

1,362,635.
639,467.
723,168.
1,247,392.
115,243.
156,425.
156,425.
88,330.
-128930
7,232.
0.0
0.0
-

2,982,686.
2,198,443.
930,815.
576,038.
2,051,871.
1,622,405.
2,282,298.
2,131,027.
405,670.
310,849.
1,876,628.
1,820,178.
700,388.
67,416.
421,211.
438,465.
390,619.
413,667.
30,592.
24,798.
15,746.
17,525.
351,206.
417,189.
348,718.
414,724.
-41973
-746498
23,024.
15,946.
0.0
0.0
-51845
-353154

3,111,709.
4,107,909.
4,469,399.
3,682,643.
0.0
0.0
2,506,350.
2,250,000.
-169829
-136162
-64997
-762444
596,697.
209,212.
3,001,772.
3,238,090.
0.0
5.86
.33
.06
.43
145.26

.26
6.48
21.86
.26
.89
91.54

.03
11.77
1.11
.5
.93
76.52

.04
18.98
2.91
.41
.43
96.93

2011
4,375,089.
0.0
5,449,916.
4,268,503.
95,047.
0.0
0.0
106,586.
794,316.
14,926.
120,422.
37,173.
0.0
621,795.
1,443,074.
557,377.
885,697.
2,754,352.
2,500,000.
234,076.
0.0
20,276.
0.0
971,979.
3,656,900.
3,656,900.
0.0
-2684921
0.0 -914225
-1770696
0.0
2,220,360.
1,194,607.
1,025,753.
2,278,304.
355,103.
1,923,201.
-57944
310,547.
280,854.
29,693.
175,530.
407,674.
405,794.
-755625
22,295.
0.0
0.0
-515906
3,726,331.
2,500,000.
-777920
3,057,377.
.04
18.36
1.67
.43
.55
102.61

2.22
-4.09
-13.28
-5.48
-

2.31
-2.65
-8.66
-3.57
-

1.97
-

4.32
-13.3
-55.01
-18.31

6.98
.88
-1.41
-.01
-.36
9.39

18.84
-.8
-33.96
-.08
-4.17
5.45

5.6

-59.12
0.0
-1.49
12.09

2.45
-.75
-2.53
-.98

-9.46
0.0
-.74
8.73

4.32
-14.43
-76.76
-20.4
18.44
-.86
-34.03
-.12
-2.13
2.66

0.0

0.0
0.0

0.0

0.0
-

0.0

0.0

0.0
0.0

Attock Cement Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
4,236,094.
6,247,760.
4,236,094.
104,683.
0.0

635,412.
94,855.
167,171.
23,124.
4,500.
345,762.
944,957.
331,618.
613,339.
973,319.

0.0
973,319.
2,953,230.
721,629.
721,629.
0.0
2,231,601.

4,703,775.
4,703,775.
0.0
3,038,728.

1,665,047.
254,861.
254,861.
25,387.
1,393,345.
487,000.
360,815.
0.0

3,926,549.
0.0
545,530.
331,618.
.13
.54
.49
.97
.67
64.6

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.65
33.66
54.91
42.19
2.51
28.14
29.62
0.0
12.56
40.92
334

Financial Statement Analysis of Non Financial Sector

2007
4,443,222.
6,812,468.
4,443,222.
367,191.
0.0
1,342,418.
265,776.
276,428.
19,897.
208,002.
572,315.
1,566,987.
15,489.
1,551,498.
822,609.
0.0
822,609.
3,396,044.
721,629.
721,629.
0.0
2,674,415.
-

(Thousand Rupees)
2008
2009
2010
2011
4,333,363.
4,210,452.
4,266,346.
5,395,668.
2,009.
209,298.
1,281,828.
6,955,871.
7,348,179.
7,462,133.
7,407,302.
4,333,363.
4,141,525.
3,992,646.
4,050,123.
401,189.
474,439.
270,794.
267,027.
0.0
0.0
0.0
0.0
4,500.
4,500.
4,500.
62,418.
59,902.
59,217.
1,537,584.
2,762,349.
2,792,563.
2,347,481.
110,957.
871,826.
442,109.
210,165.
409,498.
613,934.
366,170.
541,028.
49,799.
46,485.
55,366.
50,772.
188,450.
557,265.
1,194,272.
116,064.
778,880.
672,839.
734,646.
1,429,452.
1,716,868.
1,135,564.
1,065,190.
1,378,379.
200,109.
200,000.
0.0
0.0
1,516,759.
935,564.
1,065,190.
1,378,379.
622,500.
1,059,370.
598,300.
566,358.
422,500.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
622,500.
636,870.
598,300.
566,358.
3,531,579.
4,777,867.
5,395,419.
5,798,412.
721,629.
721,629.
865,955.
865,955.
721,629.
721,629.
865,955.
865,955.
0.0
0.0
0.0
0.0
2,809,950.
4,056,238.
4,529,464.
4,932,457.
0.0
0.0
0.0
4,056,238.
4,529,464.
4,932,457.
0.0
0.0
0.0

6,237,210.
6,237,210.
0.0
4,682,534.
-

6,770,750.
6,770,750.
0.0
5,666,446.

4,154,079.
5,837,237.
5,993,719.
0.0
422,500.
0.0
-1298506
292,528. -634747
200,109.
622,500.
0.0

6,364,770.
0.0
262,806.
0.0

303,268.
102,072.

153,909.
-

1,193,377.
22,802.
324,733.
0.0
-

8,553,921.
6,108,282.
2,445,639.
6,823,346.
1,309,817.
5,513,529.
1,730,575.
776,023.
512,936.
263,087.
742,033.
24,287.
7,763.
1,034,486.
382,000.
389,680.
0.0
305,498.

1,104,304.
303,268.

282,526.
-

7,668,133.
5,477,279.
2,190,854.
5,710,166.
1,080,864.
4,629,302.
1,957,967.
753,561.
466,659.
286,902.
135,740.
77,628.
66,005.
1,388,317.
422,091.
2,264,732.
0.0
1,362,311.

1,554,676.
282,526.

674,967.
57,706.
324,733.
0.0
-

4,218,653.
0.0
845,842.
15,489.
.32
1.64
.32
1.08
.86
75.07

2011

.2
2.27
.74
1.15
.9
83.69

8,510,071.
6,020,862.
2,489,209.
5,801,099.
1,081,866.
4,719,233.
2,708,972.
767,016.
437,194.
329,822.
147,651.
119,763.
94,016.
1,988,726.
595,354.
2,028,119.
811,248.
1,923,312.

1.3
1.41
.55
1.22
2.43
68.17

1.59
1.01
.72
1.09
2.62
74.47

.27
.28
.59
1.1
1.7
79.77

.7
22.4
37.59
29.3
3.6
22.56
-

.66
11.58
19.49
16.12
1.9
16.53
-

19.13
0.0
16.22
47.06

9.97
0.0
8.55
48.94

.46
30.97
47.87
39.81
.69
13.86
22.15
23.37
.88
19.31
66.21

.31
19.79
27.29
23.47
.43
20.94
22.03
18.11
.82
11.16
62.31

.34
13.98
18.48
16.74
1.67
15.81
134.26
12.09
.16
7.53
66.96

Bestway Cement Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
10,965,861.
12,944,563.
10,965,861.
201,464.
0.0

7,052,138.
419,562.
150,269.
33,191.
4,984,929.
1,464,187.
3,709,204.
1,776,961.
1,932,243.
9,458,832.

0.0
9,458,832.
4,849,963.
2,340,982.
2,340,982.
0.0
2,508,981.

6,131,141.
6,131,141.
0.0
3,837,637.

2,293,504.
233,550.
233,550.
468,727.
1,730,468.
27,712.
212,817.
212,817.

14,308,795.
0.0
1,489,939.
1,776,961.
1.47
7.65
.54
.34
1.9
62.59

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.72
12.8
40.89
16.43
8.
40.8
28.22
0.0
7.27
20.72
335

Financial Statement Analysis of Non Financial Sector

2007
14,452,530.
16,577,735.
14,452,530.
1,978,702.
0.0
8,628,902.
886,328.
290,831.
84,634.
5,514,776.
1,852,333.
4,493,229.
756,385.
3,736,844.
12,607,054.
0.0
12,607,054.
5,981,149.
2,575,080.
2,575,080.
0.0
3,406,069.
-

(Thousand Rupees)
2008
2009
2010
2011
16,004,482. 31,596,727. 32,555,238. 32,479,191.
7,073,141.
84,073.
149,343.
18,606,851. 30,734,525. 30,564,296. 30,714,937.
16,004,482. 18,142,808. 25,641,887. 16,283,988.
431,938.
783,917.
999,158.
1,063,802.
0.0
1,135,192.
30,000.
25,596.
5,130,069.
5,211,856.
5,831,818.
115,517.
1,587,422. 10,188,446.
9,411,009.
6,048,793.
5,885,686.
6,749,084.
348,574.
462,165.
210,645.
137,727.
729,727.
1,253,453.
1,065,834.
1,454,067.
365,121.
588,806.
315,857.
311,502.
5,589,233.
0.0
0.0
2,378,354.
3,744,369.
4,293,350.
4,845,788.
5,794,182.
8,730,660. 11,711,447. 12,603,541.
3,511,008.
6,779,749.
9,103,953. 10,102,802.
2,283,174.
1,950,911.
2,607,494.
2,500,739.
12,764,805. 18,507,790. 16,728,930. 11,968,337.
16,179,837. 15,521,502. 10,968,087.
1,750.
0.0
0.0
0.0
0.0
66,339.
85,373.
94,040.
12,764,805.
2,259,864.
1,122,055.
906,210.
6,856,504. 10,407,070. 10,000,547. 14,656,397.
2,832,588.
3,257,476.
3,257,476.
5,782,019.
2,832,588.
3,257,476.
3,257,476.
5,782,019.
0.0
0.0
0.0
4,023,916.
7,149,594.
6,743,071.
8,874,378.
2,931,654.
2,471,782.
3,798,441.
4,217,940.
4,271,289.
5,075,937.
0.0
0.0

8,409,439.
8,409,439.
0.0
7,396,569.
-

10,669,558.
10,669,558.
0.0
9,661,298.
-

1,012,870.
141,400.
-

1,008,260.
420,746.
-

141,400.
-

56,356.
4,817.
0.0
0.0

420,746.
-

1,211,746.

1,236,140.
-419135
37,492.
0.0
0.0
-

18,588,203. 19,621,309.
0.0
0.0
51,539. -456627
756,385.
3,511,008.
1.44
14.41
1.01
.36
1.92
87.96

2011

1.09
11.59
3.42
.42
1.62
90.55

16,146,838. 15,154,628. 17,074,382.

16,146,838. 15,154,628. 17,074,382.
0.0
0.0
11,254,822. 13,457,014. 13,532,789.
1,568,534.
2,719,816.
2,055,894.
9,686,288. 10,737,198. 11,476,895.
4,892,016.
1,697,614.
3,541,593.
1,717,967.
1,281,599.
550,357.
1,473,602.
1,080,812.
358,037.
244,365.
200,787.
192,320.
132,737.
135,813.
520,910.
2,442,877.
2,572,607.
3,275,907.
2,429,702.
2,558,313.
3,241,651.
1,413,175. -1362073
707,000.
73,667.
42,557.
215,648.
0.0
0.0
0.0
0.0
-526858
920,025. -1127366
28,914,860. 26,729,477.
16,179,837. 15,521,502.
1,339,508. -1404630
22,959,586. 24,625,455.
.12
15.13
3.65
.43
.69
69.7

.04
16.98
2.08
.39
.5
88.8

26,624,734.
10,968,087.
491,352.
21,070,889.
.04
19.19
1.82
.44
.54
79.26

0.0

0.0
0.0

0.0

0.0

0.0

0.0
0.0

2.86
.27
1.04
.34
-

2.71
-1.73
-6.53
-2.19
-

28.92
-

.67
0.0
.2 23.23 -

2.62
4.48
16.37
5.82

2.84
-3.58
-13.35
-4.9

12.88
1.58
8.75
.03
4.11
31.95

14.22
.47
-8.99
-.04
-4.31
30.7

14.62
-3.93
0.0

1.68
1.82
5.69
2.64
-

11.74
1.22
4.14
-.02
.85
25.35

Cherat Cement Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,269,848.
4,413,645.
2,269,848.
162,700.

1,342,041.
383,509.
145,227.
174,313.
638,992.
848,963.
223,672.
625,291.
650,000.

650,000.
2,112,926.
831,131.
831,131.
1,281,795.

3,010,523.
2,149,365.
861,158.
2,064,892.

945,631.
188,037.
188,037.
80,364.
718,747.
47,552.
83,113.
124,670.

2,762,926.
588,082.
223,672.
.66
2.67
0.0
.83
1.58
68.59

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.71
21.09
37.19
26.97
8.08
20.73
23.87
0.0
8.08
25.42
336

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

2007
2,196,964.
4,571,505.
2,196,964.
236,501.
0.0
1,336,386.
75,471.
117,288.
2,138.
474,627.
666,862.
859,258.
307,167.
552,091.
437,500.
0.0
437,500.
2,236,592.
955,801.
955,801.
0.0
1,280,791.
-

(Thousand Rupees)
2008
2009
2010
2011
2,522,040.
3,400,079.
3,617,936.
3,647,760.
1,023,062.
14,722.
96,472.
5,068,514.
4,969,810.
6,379,943.
6,490,561.
2,522,040.
2,235,295.
3,431,219.
3,291,804.
176,722.
195,917.
219,114.
261,453.
0.0
5,880.
20,013.
21,167.
114,157.
122,104.
158,969.
21,685.
29,878.
79,348.
1,860,233.
1,343,431.
1,239,483.
1,717,555.
65,529.
60,689.
53,652.
70,688.
207,491.
280,588.
201,186.
377,854.
0.0
0.0
0.0
103,969.
153.
114.
1,483,244.
1,002,001.
984,531.
1,269,013.
1,843,667.
1,070,994.
1,622,417.
1,799,917.
671,874.
677,437.
1,125,228.
1,285,625.
1,171,793.
393,557.
497,189.
514,292.
380,500.
1,404,112.
989,037.
1,233,634.
1,087,500.
976,400.
1,220,844.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
380,500.
316,612.
12,637.
12,790.
2,158,106.
2,268,404.
2,245,965.
2,331,764.
955,801.
955,801.
955,801.
955,801.
955,801.
955,801.
955,801.
955,801.
0.0
0.0
0.0
1,202,305.
1,312,603.
1,290,164.
1,375,963.
0.0
0.0
1,312,603.
1,290,164.
1,375,963.
0.0
0.0

3,448,782.
2,639,186.
809,596.
3,071,118.
-

81,576.
-56498
15,095.
0.0
0.0
-

4,567,409.
3,469,111.
3,012,338.
1,847,450.
1,555,071.
1,621,661.
3,896,647.
3,379,937.
620,648.
596,281.
3,275,999.
2,783,656.
670,762.
89,174.
307,247.
242,455.
94,767.
128,620.
212,480.
113,835.
141,563.
146,353.
114,357.
160,917.
114,357.
160,917.
256,933. -297398
16,883.
25,531.
0.0
0.0
309,630.
175,092.

4,244,009.
2,509,667.
1,734,342.
3,677,159.
673,748.
3,003,411.
566,850.
243,039.
124,701.
118,338.
480,200.
286,469.
286,469.
55,196.
44,194.
0.0
0.0
214,410.

2,674,092.
2,538,606.
0.0
0.0
74,302. -71593
307,167.
671,874.

3,672,516.
3,235,002.
1,087,500.
976,400.
240,050. -322929
1,764,937.
2,101,628.

3,565,398.
1,220,844.
11,002.
2,506,469.

3,881,033.
2,746,006.
1,135,027.
3,701,617.
-

377,664.
171,149.
-

179,416.
173,429.
-

171,149.
-

247,027.
77,145.
95,580.
0.0
-

0.0

173,429.
-

75,531.

2011

.64
2.19
.06
.98
1.56
89.05

.09
2.1
0.0
.89
1.01
95.38

.06
2.5
0.0
.96
1.25
85.31

.03
4.64
0.0
.71
.76
97.43

.04
6.75
0.0
.79
.95
86.64

0.0
0.0

0.0
0.0
0.0

0.0
0.0
0.0

0.0
0.0

.58
6.91
11.36
9.09
1.78 29.4
7.16
0.0
1.78
23.4

1.03
-1.43
-2.57
-2.17

1.09
5.63
11.61
8.27

1.16
-6.2
-13.18
-8.61

16.28
3.25
5.63
.13
2.51
23.73

17.24
-.85
-8.57
.07
-3.38
23.5

18.7
-1.46
0.0
-.75
22.58

1.3
1.08
2.41
1.62
-

11.23
1.19
1.3
.07
.12
24.4

D.G. Khan Cement Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
19,576,458.
24,591,348.
19,576,458.
349,525.
0.0

14,727,918.
77,167.
226,286.
74,165.
13,025,976.
1,324,324.
7,634,822.
4,189,772.
3,445,050.
7,401,354.

0.0
7,401,354.
19,268,200.
1,843,937.
1,843,937.
0.0
17,424,263.

10,955,936.
10,348,119.
607,817.
6,993,093.

3,962,843.
348,155.
348,155.
450,696.
3,448,533.
40,500.
276,591.
184,394.

26,669,554.
0.0
3,131,442.
4,189,772.
1.73
4.11
.68
.32
1.93
63.83

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.78
13.18
24.09
16.8
12.32
48.42
31.48
0.0
18.48
104.49
337

Financial Statement Analysis of Non Financial Sector

2007
24,157,990.
29,666,772.
24,157,990.
494,205.
0.0
27,586,341.
116,173.
295,140.
144,245.
25,108,264.
1,922,519.
9,133,558.
5,982,129.
3,151,429.
8,687,588.
0.0
8,687,588.
33,923,185.
2,535,412.
2,535,412.
0.0
31,387,773.
-

(Thousand Rupees)
2008
2009
2010
2011
25,471,336. 30,438,230. 31,565,400. 32,270,911.
1,750,208.
465,650.
1,373,820.
32,265,472. 33,872,818. 36,184,047. 36,902,550.
25,471,336. 25,551,184. 26,446,874. 25,707,179.
1,363,037.
1,414,911.
1,439,660.
1,474,539.
0.0
0.0
0.0
0.0
2,968,879.
4,493,293.
5,055,787.
167,959.
159,583.
134,125.
26,521,598. 13,429,542. 16,927,244. 18,970,595.
226,372.
261,014.
262,942.
209,299.
445,856.
1,023,230.
1,636,829.
1,513,014.
366,173.
656,986.
462,367.
650,283.
21,878,273.
7,785,979. 10,740,986. 12,126,367.
3,604,924.
3,702,333.
3,824,120.
4,471,632.
13,501,626. 16,421,691. 14,691,352. 13,681,012.
10,284,628. 14,371,037. 12,449,670. 11,493,617.
3,216,998.
2,050,654.
2,241,682.
2,187,395.
8,411,051.
6,189,955.
6,866,634.
6,901,571.
4,675,992.
5,229,507.
4,960,579.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
78,622.
104,029.
139,213.
8,411,051.
1,435,341.
1,533,098.
1,801,779.
30,080,257. 21,256,126. 26,934,658. 30,658,923.
2,535,412.
3,042,494.
3,650,993.
4,381,192.
2,535,412.
3,042,494.
3,650,993.
4,381,192.
0.0
0.0
0.0
27,544,845. 18,213,632. 23,283,665. 26,277,731.
12,618,827. 17,416,958. 20,226,964.
5,594,805.
5,866,707.
6,050,767.
0.0
0.0
0.0

9,399,132.
8,887,306.
511,826.
7,367,147.
-

1,766,298.
-175273
108,214.
0.0
0.0
-

18,368,507.
12,566,513.
5,801,994.
12,563,681.
1,614,936.
10,948,745.
5,804,826.
3,107,726.
1,881,101.
1,226,625.
126,246.
2,777,663.
2,445,737.
654,458.
128,743.
0.0
0.0
1,574,275.

16,973,236.
13,274,560.
3,698,676.
13,928,614.
2,206,589.
11,722,025.
3,044,622.
1,386,559.
1,005,271.
381,288.
148,755.
2,022,399.
1,940,669.
510,749.
100,998.
0.0
0.0
814,677.

19,451,360.
12,964,659.
6,486,701.
14,797,866.
2,281,094.
12,516,772.
4,653,494.
2,870,688.
2,484,622.
386,066.
1,009,647.
2,162,145.
2,131,090.
681,860.
205,769.
0.0
0.0
378,777.

42,610,773. 38,491,308.
0.0
0.0
1,307,159. -283487
5,982,129. 10,284,628.

27,446,081.
4,675,992.
525,715.
19,047,029.

33,801,292.
5,229,507.
409,751.
17,679,177.

37,560,494.
4,960,579.
476,091.
16,454,196.

.53
15.12
3.58
.42
.82
68.4

.78
11.92
2.72
.35
1.15
82.06

.95
11.12
3.34
.38
1.39
76.08

17,473,556.
14,732,445.
2,741,111.
15,537,255.
-

2,031,985.
308,598.
-

1,936,301.
1,269,400.
-

308,598.
-

1,269,400.
-

468,173.
1,720,471.
33,000.
380,312.
0.0
-

2011

2.78
4.98
1.53
.18
3.02
78.38

1.66
10.11
2.1
.34
1.96
88.92

.53
4.
6.47
4.97
4.44 31.85
18.3
0.0
6.66
133.8

.73
-.34
-.55
-.43

1.06
1.37
2.55
1.99

.8
1.11
2.12
1.67

17.95
1.27
3.56
.07
1.73
69.86

10.37
1.26
3.01
.04
1.12
73.77

39.19
-1.
0.0
-1.12
118.64

.67
1.37
2.37
1.91
-

12.86
1.32
3.51
.02
1.09
69.98

Dadabhoy Cement Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,921,047.
3,745,907.
2,917,427.
85,437.
3,620.

521,303.
13,009.
3,515.
1,897.
107,994.
394,888.
1,050,657.
162,820.
887,837.
1,137,702.

1,137,702.
1,253,991.
438,556.
438,556.
815,435.

1,982,886.
1,692,928.
289,958.
1,495,317.

487,569.
165,863.
165,863.
152,074.
173,223.
8,037.

2,391,693.
165,186.
162,820.
.12
7.67
.1
.58
.5
75.41

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.75
5.19
13.57
7.36
564.12
8.74
0.0
3.77
28.59
338

2011

Financial Statement Analysis of Non Financial Sector

2007
3,023,767.
3,880,086.
3,021,930.
88,497.
1,837.
494,207.
4,915.
63,062.
444.
208,963.
216,823.
1,021,465.
8,248.
1,013,217.
800,022.
0.0
0.0
800,022.
1,696,487.
438,556.
438,556.
0.0
0.0
1,257,931.
991,999.
886,133.
105,866.
986,760.

5,239.
169,671.

169,671.

5,845.
149,009.
4,873.
0.0
0.0

0.0
0.0
-

0.0

(Thousand Rupees)
2008
2009
2010
2011
4,262,850.
4,109,993.
4,038,059.
4,123,680.
10,640.
10,640.
10,640.
4,510,459.
4,471,813.
4,086,371.
4,015,996.
4,253,045.
4,086,371.
4,015,996.
4,103,129.
42,557.
24,376.
70,375.
15,121.
9,805.
7,616.
0.0
2,597.
2,420.
2,420.
2,769.
9,003.
7,491.
366,425.
343,846.
314,994.
178,808.
9,298.
2,143.
15.
13.
56,076.
44,221.
19,444.
206.
0.0
861.
0.0
3,108.
0.0
0.0
297,943.
296,621.
295,535.
178,589.
1,671,084.
702,252.
648,222.
641,963.
33,351.
88,327.
80,828.
76,842.
1,637,733.
613,925.
567,394.
565,121.
750,894.
1,665,703.
1,607,331.
1,589,752.
743,331.
740,703.
740,703.
0.0
0.0
0.0
0.0
0.0
20,452.
3,530.
1,980.
750,894.
901,920.
863,098.
847,069.
2,207,297.
2,085,884.
2,097,500.
2,070,773.
982,366.
982,366.
982,366.
982,366.
982,366.
982,366.
982,366.
982,366.
0.0
0.0
0.0
-315448
-450887
1,224,931. -332940
107,410.
99,727.
93,036.
-440350
-415175
-543923
1,436,458.
1,430,582.
1,539,294.
542,563.
521,715.
20,848.
569,179.
-26616
162,920.
162,920.
39,372.
-222117
2,491.
0.0
0.0
-

0.0

0.0
0.0

0.0
0.0

0.0

30,030.
0.0
30,030.
0.0
0.0
0.0
66,737.
0.0
2,738.
0.0
63,999.
0.0
-36707
0.0
80,736.
129,725.
163,506.
1,828.
0.0
78,908.
129,725.
163,506.
24,559.
12,172.
4,811.
7,777.
674.
6,629.
240.
-92482
-38074
-153446
0.0
0.0
0.0
0.0
0.0
0.0
-14058
-1357
-2690

0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0

9.
0.0
0.0
0.0
0.0

2,496,509.
2,958,191.
3,751,587.
3,704,831.
3,660,525.
0.0
0.0
743,331.
740,703.
740,703.
-92482
-38074
-153446
144,136. -224608
8,248.
33,351.
831,658.
821,531.
817,545.
.21
.59
.04
.28
.48
99.47

.01
7.26
0.0
.12
.22
104.91

0.0
25.9
2.87
.01
.49
222.23

0.0

0.0
-

0.0
.49

0.0
.28

1.07
4.28
10.1
6.1
-

1.1
-5.45
-11.38
-8.14
-

15.73
-

1.08
-.86
-1.82
-1.02

.68
-12.95
-307.97
-.01
-.94
21.23

0.0
-157.64

9.68

15.02
0.0
3.29
38.68

1.14
-2.04
-4.31
-2.76

-40.94
0.0
-2.29
22.47

1.08
-3.55
-7.36
-4.17
-

0.0
-

0.0
-.39
21.35

0.0
-1.56
21.08

Dandot Cement Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,905,371.
3,524,812.
1,796,987.
101,298.
108,384.

366,718.
84,715.
32,179.
0.0
0.0
249,824.
1,418,555.
188,248.
1,230,307.
385,078.

0.0
385,078.
468,456.
678,400.
678,400.
0.0
-209944

1,962,988.
1,962,988.
0.0
1,742,552.

220,436.
73,134.
73,134.
90,909.
63,940.
7,194.
0.0
0.0

853,534.
0.0
56,746.
188,248.
.06
4.63
0.0
.86
.26
88.77

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.85
2.8
13.26
7.55
61.
3.26
0.0
.84
6.91
339

Financial Statement Analysis of Non Financial Sector

2007
2,459,190.
4,245,454.
2,459,190.
67,307.
0.0
565,083.
14,007.
30,411.
0.0
0.0
520,665.
1,823,571.
368,701.
1,454,870.
723,875.
0.0
723,875.
476,827.
678,400.
678,400.
0.0
-201573
-

2011

(Thousand Rupees)
2008
2009
2010
2011
2,537,363.
2,515,194.
2,431,866.
2,175,844.
190,681.
190,681.
0.0
4,411,416.
4,271,584.
4,247,662.
4,247,843.
2,537,363.
2,313,958.
2,230,649.
2,155,354.
88,057.
84,290.
79,855.
75,477.
0.0
0.0
0.0
0.0
0.0
0.0 10,555.
10,536.
20,490.
564,462.
575,499.
598,906.
733,866.
10,335.
3,867.
3,789.
3,723.
42,166.
19,224.
41,860.
92,445.
683.
0.0
0.0
17,971.
0.0
0.0
0.0
0.0
511,278.
552,408.
553,257.
619,727.
1,754,136.
1,410,442.
1,983,460.
2,279,540.
376,471.
495,832.
502,236.
430,856.
1,377,665.
914,610.
1,481,224.
1,848,684.
1,020,031.
1,662,770.
1,465,947.
1,387,978.
1,020,000.
1,020,000.
1,020,000.
384,415.
378,366.
365,995.
0.0
0.0
0.0
0.0
70,000.
0.0
0.0
1,020,031.
188,355.
67,581.
1,983.
-757808
327,658.
17,481. -418635
948,400.
948,400.
948,400.
948,400.
948,400.
948,400.
948,400.
948,400.
0.0
0.0
0.0
0.0
-620742
-2150588
-2544674
-2844925
31,801.
31,801.
31,801.
-2182389
-2576474
-2876726
1,219,669.
1,177,639.
1,138,717.

1,372,581.
1,372,581.
0.0
1,580,013.

828,675.
814,319.
14,356.
1,065,295.

-207432
77,470.
77,470.
171,555.
-438153
4,490.
0.0
0.0
-

-236620
92,366.
92,366.
227,718.
-556402
2,891.
0.0
0.0
-

1,146,062.
233,286.
773,176.
1,144,246.
232,752.
773,176.
1,816.
534.
0.0
1,230,945.
497,040.
1,125,016.
80,943.
41,917.
81,019.
1,150,002.
455,123.
1,043,997.
-84883
-263754
-351840
107,713.
48,168.
33,937.
5,970.
1,549.
2,953.
101,743.
46,619.
30,984.
12,349.
10,526.
224,585.
266,012.
248,372.
15,444.
264,231.
247,663.
14,369.
-457658
-556982
-392030
18.
5.
0.0
0.0
0.0 0.0
0.0 -457657
-556982
-111035

1,200,702.
1,347,689.
1,680,251.
1,047,313.
630,170.
0.0
0.0
1,020,000.
1,020,000.
1,020,000.
-442643
-559293
-457676
-556987
-392030
368,701.
376,471.
1,515,832.
1,522,236.
1,450,856.
.01
12.5
0.0
.45
.31
115.11

.01
27.48
.08
.27
.32
128.55

0.0
23.21
0.0
.37
.41
107.41

0.0
106.47
0.0
.08
.3
213.06

.01
2.
2.32
.27
.32
145.51

5.34
-16.55
-92.7
-42.66
-

8.47
-18.16
-138.33
-43.67
-

45.13
-

19.65

-31.92
0.0
-6.52
7.03

175.8
-14.78
-265.2
-30.23

-67.14
0.0
-5.9
3.45

-8.24
-18.2
277.69
-40.84
-

59.62
-.73
-39.93
-.15
-4.83
.18

-4.84
-13.2
66.65
-46.74
-

5.57
-1.25
-238.76
-.16
-5.87
-4.41

8.36
-26.28
-50.7
-.03
-4.13
-7.99

Dewan Cement Ltd. (Pakland Cement Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
6,125,013.
7,902,995.
6,113,812.
268,038.
11,201.

2,118,107.
76,751.
186,703.
81,841.
960,307.
812,505.
2,290,356.
533,311.
1,757,045.
3,070,007.

2,629,795.
440,212.
2,882,757.
1,650,000.
1,650,000.
0.0
1,232,757.

3,760,310.
3,717,567.
42,743.
3,016,871.

743,439.
111,197.
111,197.
262,626.
479,337.
13,395.
0.0
0.0

5,952,764.
2,629,795.
465,942.
3,163,106.
.49
6.98
2.18
.46
.92
80.23

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.86
6.19
18.58
8.65
20.14
12.75
0.0
2.82
17.47
340

Financial Statement Analysis of Non Financial Sector

2007
19,332,935.
20,782,686.
19,304,428.
463,397.
28,507.
2,854,577.
224,537.
302,825.
510,335.
9,161.
1,807,719.
6,430,697.
1,870,703.
4,559,994.
6,961,722.
4,410,825.
2,550,897.
8,795,093.
3,573,750.
3,573,750.
0.0
5,221,343.
6,307,335.
6,144,349.
162,986.
5,696,811.

610,524.
176,178.

176,178.
553,115.
164,982.
21,648.
0.0
0.0
-

2011

(Thousand Rupees)
2008
2009
2010
2011
19,927,245. 20,086,723. 19,736,593. 19,365,469.
804,945.
804,945.
804,945.
21,944,959. 21,693,665. 21,647,156. 21,638,715.
19,927,245. 19,210,188. 18,874,678. 18,506,856.
540,033.
467,704.
289,001.
367,873.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
71,590.
56,970.
53,668.
1,683,842.
1,510,001.
1,132,873.
1,226,058.
132,572.
122,311.
60,616.
71,787.
127,802.
384,169.
120,024.
149,471.
715,855.
316,485.
347,983.
409,929.
4,656.
2,172.
1,473.
1,473.
702,957.
684,864.
602,777.
593,398.
7,073,266.
5,110,161.
5,708,438.
6,363,228.
1,862,043.
2,407,789.
2,948,558.
3,538,000.
5,211,223.
2,702,372.
2,759,880.
2,825,228.
6,214,411.
8,256,814.
7,487,405.
6,618,110.
1,287,819.
646,797.
72,370.
445,222.
445,222.
127,839.
3,850,000.
3,850,000.
3,850,000.
3,850,000.
0.0
0.0
0.0
2,364,411.
2,673,773.
2,545,386.
2,567,901.
8,323,410.
8,229,749.
7,673,623.
7,610,189.
3,573,750.
3,573,750.
3,573,750.
3,891,133.
3,573,750.
3,573,750.
3,573,750.
3,891,133.
0.0
0.0
0.0
4,749,660.
648,287.
54,349. -256333
0.0
0.0
648,287.
54,349. -256333
4,007,712.
4,045,524.
3,975,389.
6,588,350.
6,084,997.
503,353.
6,696,674.
-108324
429,881.
429,881.
325,142.
-582322
22,990.
0.0
0.0
-

5,682,571.
3,494,784.
5,088,836.
4,662,034.
2,928,825.
4,622,487.
1,020,537.
565,959.
466,349.
5,249,197.
3,800,662.
5,145,286.
684,158.
474,152.
654,632.
4,565,039.
3,326,510.
4,490,654.
-56450
433,374. -305878
377,618.
305,500.
288,474.
192,475.
120,332.
81,652.
185,143.
185,168.
206,822.
232,262.
243,761.
237,399.
463,191.
11,153.
10,044.
446,443.
5,868.
6,503.
-376490
-619485
-337751
10,205.
17,474.
50,888.
0.0
0.0
0.0
0.0
600,702. -10874
28,774.

15,756,815. 14,537,821. 16,486,563. 15,161,028. 14,228,299.

4,410,825.
3,850,000.
5,137,819.
4,496,797.
3,922,370.
-386695
-636959
-388639
143,334. -605312
6,281,528.
5,712,043.
7,545,608.
7,445,355.
7,460,370.
.12
8.77
8.09
.28
.44
90.32

.12
4.94
10.87
.3
.24
101.64

.09
8.15
5.57
.26
.3
92.37

.07
.32
9.96
.17
.2
108.75

.08
.2
8.06
.25
.19
101.11

1.52
1.08
2.83
1.52
-

1.6
-2.66
-6.8
-3.84
-

20.83
-

1.72
-2.92
-7.79
-3.91

14.79
.16
-6.63
.04
-1.08
23.03

29.12
-104.57
-17.73
0.0
-1.78
21.47

51.55

2.62
0.0
.4
24.61

1.62
-1.74
-4.55
-2.43

-8.84
0.0
-1.69
23.29

1.71
-1.63
-4.42
-2.3
-

34.05
-50.94
-6.64
0.0
-1.
19.56

Fauji Cement Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
4,563,115.
6,848,523.
4,563,115.
266,532.
0.0

1,634,993.
847,590.
145,090.
25,475.
0.0
616,838.
1,482,580.
786,353.
696,227.
1,425,000.

0.0
1,425,000.
3,290,528.
4,194,422.
3,707,430.
486,992.
-903894

5,683,455.
5,194,641.
488,814.
3,492,344.

2,191,111.
192,450.
192,450.
264,297.
1,777,687.
21,431.
370,743.
0.0

4,715,528.
0.0
1,385,513.
786,353.
.59
4.65
.45
.92
1.1
61.45

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.88
28.62
61.45
36.53
4.74
39.17
31.28
0.0
4.74
8.88
341

Financial Statement Analysis of Non Financial Sector

2007
4,392,450.
6,960,185.
4,392,450.
283,454.
0.0
2,008,238.
423,133.
183,309.
19,558.
0.0
1,382,238.
1,790,482.
375,510.
1,414,972.
875,000.
0.0
875,000.
3,735,206.
4,194,422.
3,707,430.
486,992.
-459216
-

(Thousand Rupees)
2008
2009
2010
2011
7,106,599. 19,792,487. 24,709,281. 27,418,703.
14,538,067. 18,431,211. 21,607,703.
9,973,989.
7,412,737. 27,316,506. 30,540,651.
7,106,599.
4,239,137.
5,387,829.
5,050,376.
302,656.
311,749.
327,130.
392,137.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
1,015,283.
890,241.
760,624.
5,347,894.
1,654,014.
2,070,718.
4,792,126.
3,783,909.
175,947.
192,217.
978,847.
230,089.
137,451.
96,684.
493,922.
26,927.
54,641.
46,981.
36,960.
0.0
0.0
0.0
0.0
1,306,969.
1,285,975.
1,734,836.
3,282,397.
2,845,512.
2,628,010.
3,984,915.
5,384,740.
1,378,365.
1,090,778.
1,937,111.
3,649,475.
1,467,147.
1,537,232.
2,047,804.
1,735,265.
325,000.
9,127,802. 13,184,399. 15,812,072.
6,224,227. 11,909,030. 11,805,480.
0.0
400,000.
3,189,000.
0.0
0.0
0.0
0.0
10,766.
14,707.
22,674.
325,000.
2,892,809.
860,662.
794,918.
9,283,981.
9,690,689.
9,610,685. 11,014,017.
7,419,887.
7,419,887.
7,419,887.
7,419,887.
6,932,895.
6,932,895.
6,932,895.
6,932,895.
486,992.
486,992.
486,992.
486,992.
1,864,094.
2,270,802.
2,190,798.
3,594,130.
1,333,879.
1,037,138.
2,081,694.
936,923.
1,153,660.
1,512,436.
0.0
0.0
0.0

4,780,036.
4,354,132.
425,904.
3,688,541.
-

4,749,217.
3,889,630.
859,587.
4,091,105.
-

1,091,495.
170,045.
-

658,112.
164,168.
-

170,045.
-

164,168.
-

207,105.

146,954.
-

788,180.
17,320.
0.0
0.0
-

2011

454,564.
17,730.
0.0
0.0
-

5,314,538.
4,126,742.
1,187,796.
3,627,110.
599,589.
3,027,521.
1,687,428.
231,619.
50,260.
181,359.
282,856.
224,716.
218,564.
1,421,517.
48,894.
0.0
0.0
1,995,728.

3,808,455.
4,742,593.
2,606,414.
2,818,523.
1,202,041.
1,924,070.
3,292,871.
3,919,540.
554,013.
635,436.
2,738,858.
3,284,104.
515,584.
823,053.
176,687.
259,031.
47,737.
74,149.
128,950.
184,882.
310,175.
436,278.
41,206.
103,922.
34,493.
98,187.
324,911.
488,153.
14,250.
56,210.
0.0
0.0
0.0
0.0
378,916. -736268

4,610,206.
0.0
770,860.
375,510.

9,608,981.
0.0
436,834.
1,378,365.

18,818,491.
6,224,227.
1,372,623.
7,315,005.

22,795,084.
11,909,030.
310,661.
13,846,141.

26,826,089.
11,805,480.
431,943.
15,454,955.

.25
4.33
.41
.75
1.12
77.17

1.34
3.09
.57
.38
1.88
86.14

.09
4.23
1.03
.25
.63
68.25

.06
1.08
1.23
.14
.52
86.46

.19
2.19
.78
.15
.89
82.65

.71
12.51
22.44
16.9
-

.34
4.82
6.98
6.39
-

26.08
-

1.79
1.35
3.37
1.56

38.66
7.5
26.75
.17
1.98
13.98

39.39
10.42
8.53
.02
.45
13.86

20.64

16.49
0.0
2.08
10.07

1.21
8.39
14.98
10.

9.57
0.0
.63
13.39

1.92
1.66
4.73
1.97
-

9.6
5.97
10.29
-.03
.62
15.89

Fecto Cement Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,025,725.
2,705,356.
1,025,725.
75,711.
0.0

943,175.
250,086.
25,360.
25,360.
0.0
642,369.
632,570.
57,900.
574,670.
304,349.

0.0
304,349.
1,031,981.
456,000.
456,000.
0.0
575,981.

3,375,602.
3,375,602.
0.0
2,574,681.

800,921.
160,082.
160,082.
13,077.
637,516.
154,580.
136,800.
0.0

1,336,330.
0.0
346,136.
57,900.
.44
.39
.75
1.71
1.49
76.27

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.91
36.85
72.98
61.61
3.53
133.11
18.89
0.0
10.59
22.63
342

Financial Statement Analysis of Non Financial Sector

2007
1,201,654.
2,935,374.
1,201,654.
52,249.
0.0
881,249.
41,731.
78,101.
18,897.
0.0
742,520.
653,546.
116,379.
537,167.
489,604.
0.0
489,604.
939,753.
456,000.
456,000.
0.0
483,753.
-

(Thousand Rupees)
2008
2009
2010
2011
1,178,255.
1,559,804.
2,182,532.
2,202,515.
137,468.
808,228.
1,137.
2,964,767.
3,134,115.
3,091,168.
4,023,313.
1,178,255.
1,339,752.
1,316,405.
2,162,168.
56,957.
63,284.
65,748.
87,266.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
82,584.
57,899.
39,210.
1,051,270.
1,044,659.
940,146.
905,583.
37,458.
19,536.
19,734.
24,183.
115,658.
167,862.
108,718.
109,682.
71,717.
65,580.
10,892.
18,712.
0.0
0.0
0.0
0.0
826,437.
791,681.
800,802.
753,006.
977,697.
943,977.
1,336,168.
1,502,939.
438,409.
402,189.
634,597.
864,689.
539,288.
541,788.
701,571.
638,250.
394,018.
488,326.
822,608.
575,824.
292,074.
684,048.
456,418.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
394,018.
196,252.
138,560.
119,406.
857,810.
1,172,160.
963,902.
1,029,335.
456,000.
456,000.
501,600.
501,600.
456,000.
456,000.
501,600.
501,600.
0.0
0.0
0.0
0.0
401,810.
716,160.
462,302.
527,735.
0.0
0.0
0.0
716,160.
462,302.
527,735.
0.0
0.0
0.0

3,183,271.
3,183,271.
0.0
2,974,837.
-

176,640.
-118435
3,092.
0.0
0.0
-

3,455,706.
2,902,684.
2,538,063.
1,790,928.
917,643.
1,111,756.
2,542,303.
2,749,953.
422,364.
466,626.
2,119,939.
2,283,327.
913,403.
152,731.
334,724.
375,393.
183,452.
252,758.
151,272.
122,635.
93,720.
86,898.
190,589.
83,363.
99,751.
82,824.
396,289. -291434
66,022.
20,129.
0.0
0.0
71,616.
0.0
480,758.
150,964.

3,304,272.
2,097,907.
1,206,365.
2,698,348.
502,056.
2,196,292.
605,924.
377,342.
242,034.
135,308.
287,276.
149,681.
167,140.
91,960.
34,620.
0.0
0.0
333,774.

1,429,357.
1,251,828.
0.0
0.0
-108309
-121527
116,379.
438,409.

1,660,486.
1,786,510.
292,074.
684,048.
330,267. -311563
694,263.
1,318,645.

1,605,159.
456,418.
57,340.
1,321,107.

3,352,771.
3,021,527.
331,244.
3,161,570.
-

208,434.
145,321.
-

191,201.
150,748.
-

145,321.
-

150,748.
-

69,193.
29,104.
613.
136,800.
0.0
-

2011

.09
2.17
.59
1.53
1.35
93.45

.11
5.27
2.14
1.5
1.08
94.3

.09
5.52
1.9
1.33
1.11
73.57

.02
2.87
.38
.93
.7
94.74

.03
4.53
.57
1.06
.6
81.66

1.22
1.44
2.95
2.1
.21 40.76
.91
0.0
.62
20.61

1.6
-5.49
-13.18
-8.83

1.22
16.4
39.04
27.21

2.24
-10.18
-27.29
-16.91

20.59
4.97
11.47
.34
7.24
25.71

26.7
-2.52
-10.04
.07
-6.21
19.22

28.99
-3.53
0.0
-2.67
18.81

2.02
2.95
9.23
5.42
-

30.13
1.55
2.78
.16
1.14
20.52

Flying Cement Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

343

2011

Financial Statement Analysis of Non Financial Sector

2007
-

2008
4,696,595.
5,012,587.
4,696,595.
76,292.
0.0
659,211.
14,612.
404,629.
11,508.
0.0
228,462.
1,656,567.
117,286.
1,539,281.
46,346.
0.0
46,346.
3,652,893.
1,760,000.
1,760,000.
0.0
1,892,893.
238,278.
228,480.
9,798.
515,397.
-277119
23,079.
23,079.
31,141.
-331339
2,910.
0.0
0.0
-

3,699,239.
0.0
-334249
117,286.

.02
13.07
4.83
.04
.4
216.3

(Thousand Rupees)
2009
2010
2011
4,754,733.
4,856,004.
4,901,092.
1,139,956.
336,071.
406,073.
4,500,182.
4,596,427.
4,639,130.
3,614,777.
4,519,933.
4,495,019.
75,402.
76,092.
91,475.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
673,708.
692,300.
553,670.
6,366.
944.
9,739.
425,982.
423,596.
368,284.
10,792.
449.
6,261.
0.0
0.0
0.0
230,568.
267,311.
169,386.
673,113.
745,860.
808,324.
312,589.
178,532.
261,892.
360,524.
567,328.
546,432.
1,264,182.
1,483,472.
1,473,408.
37,693.
185,591.
172,623.
291,116.
403,326.
492,924.
0.0
0.0
0.0
1,931.
929.
0.0
933,442.
893,626.
807,861.
3,491,146.
3,318,972.
3,173,030.
1,760,000.
1,760,000.
1,760,000.
1,760,000.
1,760,000.
1,760,000.
0.0
0.0
0.0
-22898
-161476
-274494
126,979.
126,979.
126,979.
-149877
-288455
-401473
1,754,044.
1,720,448.
1,687,524.
666,072.
80,617.
723,949.
654,830.
80,617.
723,949.
11,242.
0.0
0.0
815,030.
239,689.
886,966.
47,554.
10,288.
71,645.
767,476.
229,401.
815,321.
-148958
-159072
-163017
24,777.
14,778.
14,323.
7,021.
2,982.
3,999.
17,756.
11,796.
10,324.
5,911.
4,332.
39,592.
65,715.
28,119.
45,067.
64,458.
25,971.
44,066.
-239450
-201969
-222407
0.0
403.
7,239.
0.0
0.0
0.0
0.0
0.0
0.0
95,953.
82,439.
553.
4,755,328.
4,802,444.
4,646,438.
37,693.
185,591.
172,623.
-239450
-202372
-229646
350,282.
364,123.
434,515.
.03
9.87
1.62
.12
1.
122.36

0.0
34.88
.56
.01
.93
297.32

.02
6.23
.86
.13
.68
122.52

.47
-6.19
-9.07
-8.96
.59
-139.06
0.0
-1.9
20.76

.55
-4.44
-6.7
-5.66

.67
-3.68
-5.93
-4.23

1.56
-2.71
-35.95
.05
-1.36
19.84

.19
-6.78
-250.53
.04
-1.15
18.86

.72
-4.04
-6.85
-4.71
-

1.97
-4.05
-30.72
0.0
-1.3
18.03

Gharibwal Cement Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,444,239.
4,708,083.
3,444,239.
57,456.

857,855.
156,962.
135,723.
162,487.
402,683.
906,926.
276,069.
630,857.
251,162.

251,162.
3,144,006.
1,718,764.
1,718,764.
1,425,242.

2,209,038.
2,209,038.
1,934,241.

274,797.
99,505.
99,505.
43,293.
170,245.
3,090.
85,938.

3,395,168.
81,217.
276,069.
.35
1.96
0.0
.51
.95
87.56

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.37
5.06
7.15
6.55
1.95
16.28
7.71
0.0
.97
18.29
344

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

2008
0.0
10,807,390.
0.0
108,193.
0.0
10,419,551.
156,506.
77,753.
52,694.
653.
10,131,945.
4,118,132.
706,352.
3,411,780.
3,465,255.
399,840.
3,065,415.
2,836,164.
2,318,764.
2,318,764.
0.0
517,400.
-

771,759.
771,759.
0.0
960,191.

0.0
0.0
0.0
75,230.

-188432
65,757.
65,757.
112,468.
-202074
2,538.
0.0
0.0
0.0
-

-75230
348,150.
348,150.
154,047.
-564146
0.0
0.0
0.0
-

0.0
-

2007
6,930,982.
8,311,930.
6,930,982.
117,691.
0.0
1,294,675.
750,932.
77,753.
0.0
942.
465,048.
3,273,084.
382,022.
2,891,062.
2,200,147.
225,000.
1,975,147.
2,752,426.
1,718,764.
1,718,764.
0.0
1,033,662.
-

0.0

2011

(Thousand Rupees)
2009
2010
2011
9,791,842. 12,102,784. 11,582,148.
96,289.
136,521.
106,195.
11,362,926. 13,878,132. 12,716,023.
9,633,200. 11,908,348. 11,459,998.
242,022.
240,607.
324,633.
0.0
0.0
0.0
0.0
62,353.
57,915.
15,955.
1,237,044.
819,327.
1,032,431.
67,981.
21,140.
22,261.
401,668.
109,483.
115,180.
52,694.
33,762.
61,964.
0.0
0.0
714,701.
654,942.
833,026.
5,702,745.
4,835,260.
5,305,461.
3,333,475.
1,769,583.
787,368.
2,369,270.
3,065,677.
4,518,093.
3,360,334.
4,086,430.
4,280,148.
926,894.
3,233,674.
2,985,971.
1,886,723.
137,889.
403,583.
399,680.
0.0
10,718.
14,811.
17,356.
136,319.
700,056.
873,238.
1,965,807.
4,000,421.
3,028,970.
2,318,764.
2,318,764.
4,002,739.
2,318,764.
2,318,764.
4,002,739.
0.0
0.0
-1363856
-678507
-3244437
0.0
0.0
-1363856
-678507
-3244437
1,010,899.
2,360,164.
2,270,668.
2,438,570.
2,113,818.
3,327,031.
1,933,058.
1,432,945.
3,082,919.
505,512.
680,873.
244,112.
2,205,490.
2,532,723.
3,159,715.
387,370.
343,263.
572,313.
1,818,120.
2,189,460.
2,587,402.
233,080. -418905
167,316.
221,875.
547,116.
357,078.
94,414.
292,689.
17,411.
127,461.
254,427.
339,667.
26,261.
33,094.
238,192.
881,406.
1,184,656.
764,740.
669,577.
817,686.
529,948.
-859499
-2112763
-935766
5,638.
6,497.
35,685.
0.0
0.0
0.0
0.0
-104609
792,183. -82965

4,952,573.
6,301,419.
5,326,141.
8,086,851.
7,309,118.
225,000.
399,840.
1,326,574.
3,233,674.
2,985,971.
-204612
-564146
-865137
-2119260
-971451
607,022.
1,106,192.
4,660,049.
5,003,257.
3,773,339.
.23
14.57 0.0 .09
.4
124.42 -

.05

0.0
2.53

.02
36.14
2.16
.22
.22
90.44

.01
56.04
1.6
.16
.17
119.82

.02
22.99
1.86
.26
.19
94.97

0.0
0.0

0.0

0.0

0.0
0.0

0.0
0.0

1.99
-3.23
-6.85
-4.84
-

2.67
-6.05
-20.19
-10.03
-

9.93
-

-26.18 0.0
-1.19
16.01

4.61
-8.01
-35.8
-14.78

2.23
-17.64
-70.82
-31.5

6.07
-.28
-35.25
.09
-3.73
8.48

19.31
-1.58
-99.95
-.01
-9.14
17.25

0.0

0.0
-2.43
12.23

3.16
-7.33
-26.62
-12.16
-

28.89
-.77
-28.13
-.01
-2.43
7.57

Kohat Cement Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,079,393.
3,442,970.
2,079,393.
91,832.

996,717.
656,886.
87,870.
21,642.
6,600.
223,719.
552,313.
135,611.
416,702.
239,858.

239,858.
2,283,939.
925,312.
925,312.
1,358,627.

2,922,612.
2,237,902.
684,710.
1,722,950.

1,199,662.
125,247.
125,247.
54,097.
1,039,424.
192,571.
92,531.

2,523,797.
846,853.
135,611.
1.24
1.85
.74
.95
1.8
58.95

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.35
43.97
61.48
55.61
33.26
35.56
0.0
9.15
24.68
345

2011

Financial Statement Analysis of Non Financial Sector

2007
5,258,260.
6,722,667.
5,258,260.
104,952.
0.0
0.0
606,051.
132,402.
125,148.
21,381.
0.0
327,120.
821,347.
364,554.
456,793.
2,703,308.
0.0
0.0
2,703,308.
2,339,656.
1,017,843.
1,017,843.
0.0
0.0
1,321,813.
-

(Thousand Rupees)
2008
2009
2010
6,248,720.
6,979,219.
7,266,211.
584,965.
861,363.
7,812,738.
8,076,995.
8,334,941.
6,248,720.
6,352,853.
6,368,030.
103,949.
161,943.
255,694.
0.0
2,690.
2,588.
0.0
38,711.
34,230.
1,375,201.
1,645,675.
1,407,169.
36,995.
34,371.
28,022.
174,318.
139,294.
290,433.
15,341.
17,792.
20,010.
0.0
0.0
1,148,547.
1,454,218.
1,068,704.
2,309,319.
2,946,392.
3,242,473.
1,722,564.
2,079,132.
2,003,265.
586,755.
867,260.
1,239,208.
2,985,473.
3,406,955.
3,469,937.
2,991,427.
3,049,320.
0.0
0.0
0.0
6,216.
6,197.
2,985,473.
409,312.
414,420.
2,329,129.
2,271,547.
1,960,970.
1,170,520.
1,287,572.
1,287,572.
1,170,520.
1,287,572.
1,287,572.
0.0
0.0
1,158,609.
983,975.
673,398.
-35921
-18721
1,019,896.
692,119.
0.0

2,050,321.
1,526,852.
523,469.
1,707,054.
-

48,935.
-279572
7,123.
0.0
117,052.
-

3,395,581.
3,692,038.
2,522,198.
2,629,156.
873,383.
1,062,882.
2,591,021.
3,335,018.
375,463.
568,943.
2,215,558.
2,766,075.
804,560.
357,020.
267,692.
103,879.
111,491.
56,246.
156,201.
47,633.
21,496.
99,931.
549,903.
658,590.
538,225.
650,788.
21,184. -382238
8,738.
24,474.
0.0
0.0
320,879.
128,335.

5,042,964.
5,314,602.
0.0
0.0
41,657. -286695
364,554.
1,722,564.

5,678,502.
5,430,907.
2,991,427.
3,049,320.
12,446. -406712
5,070,559.
5,052,585.

1,823,587.
1,309,375.
514,212.
1,736,185.
-

343,267.
72,681.
-

87,402.
354,017.
-

72,681.
-

280,622.
65,589.
23,932.
0.0
0.0

0.0
-

0.0

354,017.
-

.19
13.69
1.04
.35
.74
83.26

.02
2.68
.84
.24
.6
95.21

.02
16.19
.52
.39
.56
76.31

.01
17.84
.54
.43
.43
90.33

2011
7,170,782.
9,373,580.
7,140,841.
310,563.
2,356.
0.0

0.0

27,585.
1,953,618.
40,681.
507,527.
12,567.
36,156.
1,356,687.
2,810,539.
176,729.
2,633,810.
4,211,045.
3,536,870.

0.0
0.0
6,731.
667,444.
2,102,816.
1,287,572.
1,287,572.
0.0
815,244.
59,409.
755,835.
0.0
6,085,435.
4,567,593.
1,517,842.
5,158,303.
807,116.
4,351,187.
927,132.
106,529.
41,199.
65,330.
121,093.
715,247.
701,140.
125,780.
65,294.
0.0
0.0
223,826.
6,313,861.
3,536,870.
60,486.
3,713,599.
.03
11.75
.21
.67
.7
84.76

1.51
1.47
2.84
1.73
-

2.27
-4.15
-11.98
-5.4
-

16.38
-

3.42
-4.42
-18.06
-6.88

24.38
1.04
.62
.05
.1
17.64

12.71
.41
-10.35
.02
-3.16
15.23

10.46

3.2
0.0
.41
22.99

2.8
.26
.92
.39

-15.33
0.0
-2.45
19.9

3.34
1.41
6.19
2.14
11.99
1.18
2.07
.03
.47
16.33

0.0

0.0

0.0
0.0

0.0

0.0

0.0
0.0

Lafarge Pak. Cement Ltd. (Pakistan Cement Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
15,346,720.
15,356,630.
15,346,720.
3,950.
0.0

429,955.
23,216.
26,008.
0.0
0.0
380,731.
2,258,363.
135,531.
2,122,832.
7,015,937.

0.0
7,015,937.
6,502,375.
6,768,379.
6,768,379.
0.0
-266004

0.0
0.0
0.0
0.0

0.0
55,165.
55,165.
10.
-53626
0.0
0.0
0.0

13,518,312.
0.0
-53626
135,531.
.01

0.0
.19

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.43
-.44
-.9
-.57
0.0

0.0
-.08
9.61
346

2011

Financial Statement Analysis of Non Financial Sector

2007
17,969,367.
18,736,451.
17,962,218.
736,874.
7,149.
3,509,323.
678,425.
498,785.
74,359.
0.0
2,257,754.
5,242,553.
1,324,453.
3,918,100.
5,735,181.
0.0
5,735,181.
10,500,956.
11,345,149.
11,345,149.
0.0
-844193
-

(Thousand Rupees)
2008
2009
2010
17,252,017. 17,558,751. 17,145,507.
82,708.
137,926.
18,937,394. 18,938,505. 19,101,247.
17,247,914. 16,605,289. 16,154,046.
917,135.
655,702.
622,602.
4,103.
2,959.
2,345.
0.0
867,795.
851,190.
4,732,186.
2,145,492.
2,358,841.
55,473.
71,261.
7,268.
946,934.
724,361.
624,933.
33,927.
76,614.
417.
0.0
0.0
3,695,852.
1,273,256.
1,726,223.
6,539,685.
6,865,083.
8,927,252.
3,743,615.
3,630,698.
5,815,684.
2,796,070.
3,234,385.
3,111,568.
4,410,114.
3,075,232.
1,761,663.
3,075,232.
1,761,663.
0.0
0.0
0.0
0.0
4,410,114.
0.0
11,034,404.
9,763,928.
8,815,433.
13,126,445. 13,126,445. 13,126,445.
13,126,445. 13,126,445. 13,126,445.
0.0
0.0
-2092041
-3362517
-4311012
198,966.
198,963.
-3561483
-4509975
0.0

6,224,962.
5,116,367.
1,108,595.
6,724,281.
-

-499319
358,977.
358,977.
795,985.
-797784
0.0
0.0
0.0
-

10,079,735.
7,804,082.
2,275,653.
9,504,885.
574,850.
555,349.
555,349.
1,481,674.
-1414765
23,092.
0.0
0.0
-

8,129,961.
6,880,767.
5,709,114.
4,005,443.
2,420,847.
2,875,324.
7,146,258.
6,024,857.
1,153,871.
1,087,714.
5,992,387.
4,937,143.
983,703.
855,910.
1,176,470.
906,621.
459,777.
491,859.
716,693.
414,762.
184,025.
174,518.
1,082,955.
980,678.
1,028,044.
935,852.
-1254503
-918986
24,262.
29,508.
0.0
0.0
1,636,220. -723746

16,236,137. 15,444,518. 12,839,160. 10,577,096.

0.0
0.0
3,075,232.
1,761,663.
-797784
-1437857
-1278765
-948494
1,324,453.
3,743,615.
6,705,930.
7,577,347.

.14
12.79
1.19
.29
.67
108.02

.01
14.7
.34
.46
.72
94.3

.02
13.32
.94
.41
.31
87.9

0.0
14.25
.01
.35
.26
87.56

2011
16,691,496.
92,969.
19,256,815.
15,699,215.
625,394.
1,165.
0.0
898,147.
2,525,674.
23,242.
1,064,741.
33,988.
0.0

0.0
0.0
0.0
0.0

1,403,703.
3,560,745.
2,049,379.
1,511,366.
6,955,636.
5,699,628.
975,791.

280,217.
8,700,789.
13,126,445.
13,126,445.

0.0
-4425656
202,743.
-4628399
0.0
7,804,378.
5,405,559.
2,398,819.
6,148,726.
1,091,170.
5,057,556.
1,655,652.
738,035.
246,476.
491,559.
422,283.
1,064,480.
949,379.
-91236
80,849.
0.0
0.0
279,669.
15,656,425.
5,699,628.
-172085
7,749,007.
.02
13.64
.44
.41
.71
78.79

1.05
-4.28
-9.38
-5.36
-

.99
-6.51
-13.14
-8.93
-

12.48
-

1.21
-4.69
-9.89
-7.85

11.22
-.22
-15.43
.16
-.97
7.44

11.01
.02
-13.36
-.07
-.72
6.72

10.64

-12.82
0.0
-.7
9.26

1.02
-6.02
-12.06
-8.87

-14.04
0.0
-1.1
8.41

1.21
-.47
-1.04
-.7
7.33
.9
-1.17
.03
-.13
6.63

0.0

0.0

0.0
0.0

0.0

Lucky Cement Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
19,165,108.
21,255,834.
19,165,108.
426,180.
0.0

4,457,669.
2,063,755.
431,418.
98,389.
0.0
1,864,107.
6,396,549.
3,028,448.
3,368,101.
10,156,595.

0.0
10,156,595.
7,069,633.
2,633,750.
2,633,750.
0.0
4,435,883.

10,707,964.
9,379,135.
1,328,829.
7,797,232.

2,910,732.
275,150.
275,150.
82,809.
2,552,976.
39,923.
263,375.
0.0

17,226,228.
0.0
2,249,678.
3,028,448.
.34
.77
.92
.45
.7
72.82

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.34
13.29
41.67
17.64
9.54
24.82
23.84
0.0
9.54
26.84
347

Financial Statement Analysis of Non Financial Sector

2007
20,318,908.
23,291,771.
20,318,908.
883,125.
0.0
5,404,853.
1,239,158.
676,256.
476,667.
0.0
3,012,772.
8,041,199.
4,479,549.
3,561,650.
8,329,012.
0.0
8,329,012.
9,353,550.
2,633,750.
2,633,750.
0.0
6,719,800.
-

(Thousand Rupees)
2008
2009
2010
2011
25,829,520. 30,534,420. 31,438,780. 31,765,389.
2,143,111.
1,913,121.
1,139,945.
29,777,481. 33,419,153. 35,957,625. 38,621,844.
25,829,520. 28,333,761. 29,465,134. 30,565,211.
978,869.
1,148,218.
1,410,996.
1,570,545.
0.0
0.0
2,977.
1,685.
0.0
0.0
0.0
57,548.
57,548.
58,548.
8,409,554.
7,857,942.
6,871,464.
9,444,466.
270,011.
1,049,091.
333,629.
351,202.
709,372.
1,196,608.
608,813.
1,248,538.
720,314.
1,267,248.
779,305.
620,961.
0.0
0.0
0.0
0.0
6,709,857.
4,344,995.
5,149,717.
7,223,765.
8,950,318.
9,098,678.
9,641,691. 10,696,789.
3,848,376.
6,187,941.
6,442,871.
6,302,252.
5,101,942.
2,910,737.
3,198,820.
4,394,537.
6,633,333.
6,041,712.
3,572,624.
2,740,237.
4,300,000.
1,658,600.
658,298.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
234,633.
319,217.
391,837.
6,633,333.
1,507,079.
1,594,807.
1,690,102.
18,655,423. 23,251,972. 25,095,929. 27,772,829.
3,233,750.
3,233,750.
3,233,750.
3,233,750.
3,233,750.
3,233,750.
3,233,750.
3,233,750.
0.0
0.0
0.0
0.0
15,421,673. 20,018,222. 21,862,179. 24,539,079.
7,343,422.
7,343,422.
7,343,422.
12,674,800. 14,518,757. 17,195,657.
0.0
0.0
0.0

16,623,384.
12,309,586.
4,313,798.
12,948,231.
-

20,819,749.
11,538,960.
9,280,789.
16,457,028.

25,288,756. 29,293,684. 28,668,553.

0.0
4,300,000.
1,658,600.
-2585686
1,897,760. -49663
3,848,376. 10,487,941.
8,101,471.

30,513,066.
658,298.
2,766,846.
6,960,550.

1,930,742.
862,847.

126,743.
-

2,690,351.
63,146.
329,219.
0.0
-

26,017,519.
14,381,251.
11,636,268.
17,306,400.
2,857,702.
14,448,698.
8,711,119.
3,875,296.
3,236,425.
638,871.
1,128,979.
517,788.
493,165.
4,320,521.
260,175.
1,293,500.
0.0
4,073,582.

4,362,721.
1,930,742.

751,244.
-

24,508,793.
9,647,379.
14,861,414.
16,529,932.
2,431,645.
14,098,287.
7,978,861.
3,994,065.
3,433,047.
561,018.
153,404.
569,184.
531,401.
3,417,514.
195,697.
5,807,503.
0.0
5,267,006.

3,675,153.
751,244.

2,306,529.
85,394.
323,375.
0.0
-

17,682,562.
0.0
2,297,986.
4,479,549.
.21
5.19
2.87
.65
.67
77.89

2011

.11
.61
3.46
.61
.94
79.05

26,330,404.
10,498,578.
15,831,826.
16,519,138.
2,061,014.
14,458,124.
9,811,266.
3,420,549.
2,427,837.
992,712.
116,854.
1,236,971.
1,194,281.
5,177,001.
156,744.
5,069,920.
0.0
6,514,748.

.25
4.7
4.81
.69
.86
62.74

.12
2.32
3.18
.64
.71
67.44

.09
1.99
2.39
.63
.88
66.52

1.75
10.9
32.76
15.41
7.98
24.58
-

.84
7.69
16.47
10.74
6.87
29.35
-

16.18
0.0
9.98
35.51

11.08
0.0
6.87
57.69

.65
14.26
24.71
18.97
.99
22.
5.33
19.66
.43
15.52
71.9

.53
8.91
14.14
11.79
.55
40.26
7.43
13.94
.4
9.96
77.61

.48
10.87
16.34
14.6
3.14
20.84
9.76
16.61
.3
12.56
85.88

Maple Leaf Cement Factory Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
16,088,505.
20,517,727.
16,088,505.
372,734.
0.0

2,704,907.
100,938.
200,946.
163,459.
17,395.
2,222,169.
3,526,065.
1,531,821.
1,994,244.
7,955,320.

0.0
7,955,320.
7,312,027.
3,519,581.
2,978,107.
541,474.
3,792,446.

7,954,901.
7,954,901.
0.0
5,806,321.

2,148,580.
199,459.
199,459.
340,978.
1,634,814.
28,536.
0.0
0.0

15,267,347.
0.0
1,606,278.
1,531,821.
.08
4.29
2.05
.42
.77
72.99

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.57
11.19
24.04
13.76
39.59
20.55
0.0
5.39
24.55
348

Financial Statement Analysis of Non Financial Sector

2007
19,335,444.
24,188,139.
19,330,866.
439,254.
4,578.
4,101,530.
123,359.
369,709.
194,587.
944,669.
2,469,206.
4,919,564.
1,806,377.
3,113,187.
9,524,373.
0.0
9,524,373.
8,993,037.
4,264,108.
3,722,634.
541,474.
4,728,929.
-

(Thousand Rupees)
2008
2009
2010
2011
20,096,530. 20,445,961. 21,092,008. 28,275,551.
1,554,064.
3,140,444.
3,794,285.
25,802,361. 25,588,614. 25,689,208. 32,987,590.
20,081,448. 18,827,414. 17,894,924. 24,409,108.
865,546.
1,047,685.
1,043,975.
1,253,266.
15,082.
7,332.
1,774.
17,591.
0.0
200.
0.0
57,151.
54,666.
54,567.
6,055,031.
5,214,877.
5,002,904.
5,414,495.
118,894.
99,932.
73,435.
288,321.
433,952.
650,914.
504,718.
539,084.
743,366.
682,244.
751,400.
560,103.
734,859.
406,563.
472,338.
404,863.
4,023,960.
3,375,224.
3,201,013.
3,622,124.
7,591,699.
9,962,884.
9,348,845. 10,368,370.
4,637,749.
7,113,820.
4,928,267.
5,461,300.
2,953,950.
2,849,064.
4,420,578.
4,907,070.
10,198,973.
8,980,153. 11,611,919. 14,750,231.
1,688,828.
3,299,751.
4,518,551.
0.0
0.0
0.0
8,000,000.
7,200,000.
8,289,800.
7,983,000.
18,990.
19,629.
19,149.
2,198,973.
72,335.
2,739.
2,229,531.
8,360,889.
6,717,801.
5,134,148.
8,571,445.
4,264,108.
4,264,108.
4,264,108.
5,803,458.
3,722,634.
3,722,634.
3,722,634.
5,267,130.
541,474.
541,474.
541,474.
536,328.
4,096,781.
2,453,693.
870,040. -2780133
2,727,277.
3,780,433.
2,175,531.
-273584
-2910393
-4955664
0.0
0.0
5,548,120.

5,514,208.
5,514,208.
0.0
5,204,315.
-

10,552,398.
8,195,115.
2,357,283.
9,228,568.
-

309,893.
154,683.
-

1,323,830.
980,923.
-

154,683.
-

2011

980,923.
-

338,453.
1,812,807.
-140019
-1364244
9,744.
44,815.
0.0
0.0
0.0
0.0
-

15,251,374. 13,630,511. 13,073,218.

8,766,110.
6,801,693.
9,511,527.
6,485,264.
6,828,818.
3,561,691.
10,296,865. 10,691,883. 10,898,059.
1,507,542.
1,660,770.
1,594,508.
8,789,323.
9,031,113.
9,303,551.
4,954,509.
2,938,628.
2,175,159.
2,533,668.
3,505,691.
2,039,854.
2,339,704.
3,152,889.
1,646,632.
193,964.
352,802.
393,222.
99,103.
105,001.
478,162.
3,400,241.
2,059,476.
2,166,409.
2,871,273.
1,929,933.
2,080,448.
-917651
-2569508
-1959864
64,321.
103,122.
131,896.
0.0
0.0
0.0
0.0
0.0
0.0
3,395,018.
1,740,128.
1,621,918.

18,517,410. 18,559,862. 15,697,954. 16,746,067. 23,321,676.

0.0
8,000,000.
8,888,828. 11,589,551. 12,501,551.
-149763
-1409059
-981972
-2672630
-2091760
1,806,377. 12,637,749. 16,002,648. 16,517,818. 17,962,851.
.26
6.14
3.53
.24
.83
94.38

.21
17.18
7.04
.4
.8
87.45

.12
22.29
4.47
.59
.52
67.51

.14
15.11
5.51
.52
.54
78.44

.12
16.57
4.28
.39
.52
83.36

1.61
-.66
-1.72
-.83
-

2.13
-5.5
-15.72
-7.36
-

14.91
-

4.08
-9.93
-43.36
-15.84

23.43
.68
-6.02
.18
-2.64
18.05

27.01
-.33
-18.85
.08
-7.18
13.79

24.32

-2.54
0.0
-.4
24.16

2.82
-3.54
-12.17
-5.36

-12.93
0.0
-3.79
22.46

2.93
-6.56
-28.6
-9.78
-

24.25
.06
-14.99
.06
-3.97
16.27

Mustehkam Cement Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,653,911.
3,663,836.
3,653,911.
13,764.

487,769.
5,412.
128,499.
308.
353,550.
1,512,347.
342,186.
1,170,161.

2,629,333.
123,200.
123,200.
2,506,133.

408,686.
408,686.
406,414.

2,272.
16,582.
16,582.
14,938.
-22755
1,604.

2,629,333.
-24359
342,186.
0.0
3.66
.08
.1
.32
99.44

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.58
-.99
-2.51
-2.51
3.18
-5.57
0.0
-1.98
213.42
349

2011

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
0.0
0.0

0.0
-

(Thousand Rupees)
2008
2009
2010
4,229,550.
8,342,638.
8,996,961.
4,682,250.
4,627,753.
4,227,008.
9,876,591.
4,229,550.
3,643,343.
8,979,916.
204,174.
185,463.
313,010.
0.0
0.0
0.0
17,045.
17,045.
1,439,886.
1,312,827.
1,412,662.
19,459.
9,874.
22,868.
306,835.
197,145.
280,371.
4,364.
3,740.
18,669.
0.0
1,109,228.
1,102,068.
1,090,754.
1,708,617.
1,388,528.
2,928,562.
716,962.
1,064,495.
1,057,073.
991,655.
324,033.
1,871,489.
1,270,000.
4,945,833.
4,316,361.
4,200,000.
3,795,833.
0.0
0.0
0.0
5,447.
7,130.
1,270,000.
740,386.
513,398.
2,690,819.
3,321,104.
3,164,700.
150,304.
150,304.
416,971.
150,304.
150,304.
416,971.
0.0
0.0
2,540,515.
1,188,807.
838,438.
909,841.
750,454.
278,966.
87,984.
1,981,993.
1,909,291.

940,592.
940,592.
0.0
1,224,523.

1,484,855.
1,484,855.
0.0
1,768,471.

-283931
20,449.
20,449.
62,991.
37,445.
3,217.
0.0
0.0
0.0
0.0
-

-283616
22,878.
22,878.
115,458.
-416145
4,940.
0.0
0.0
-

0.0
-

2007
3,891,749.
4,086,394.
3,891,749.
185,507.
0.0
1,032,321.
11,048.
164,526.
9,054.
0.0
847,693.
1,667,250.
454,247.
1,213,003.
400,000.
0.0
400,000.
2,856,820.
123,200.
123,200.
0.0
2,733,620.
-

0.0

1,351,160.
1,462,412.
1,351,160.
1,462,412.
0.0
1,231,374.
1,532,603.
137,584.
271,341.
1,093,790.
1,261,262.
119,786. -70191
95,192.
69,800.
82,518.
11,945.
12,674.
57,855.
30,735.
52,548.
158,209.
350,690.
153,845.
346,864.
-131374
-490209
3,136.
461.
0.0
0.0
-188849
-51362

3,256,820.
3,960,819.
8,266,937.
7,481,061.
0.0
0.0
4,200,000.
3,795,833.
-134510
-490670
34,228. -421085
454,247.
716,962.
5,264,495.
4,852,906.
.01
6.7
.96
.19
.62
130.19

.01
7.78
.29
.26
.84
119.1

.01
11.71
.28
.14
.95
91.13

.01
23.98
1.28
.14
.48
104.8

2011
9,064,244.
0.0
20,456.
9,014,976.
9,025,744.
328,415.
0.0
0.0
18,044.
1,781,470.
23,585.
263,769.
34,580.
0.0
1,459,536.
3,110,085.
1,141,151.
1,968,934.
2,827,050.
2,637,500.
0.0
0.0
6,565.
182,985.
4,908,579.
1,292,609.
1,292,609.
0.0
1,268,255.
1,188,274.
79,981.
2,347,715.
3,791,897.
3,791,897.
0.0
3,159,362.
457,539.
2,701,823.
632,535.
31,883.
12,864.
19,019.
79,929.
786,608.
798,094.
-165663
40,748.
0.0
0.0
-472299
7,735,629.
2,637,500.
-206411
3,778,651.
.02
20.74
.91
.35
.57
83.32

.72
.83
1.37
1.27
-

1.11
-7.86
-15.
-11.53
-

5.72
-

2.29
-4.89
-15.12
-6.23

6.85
.15
-9.72
-.03
-8.95
220.96

5.22
-.41
-33.52
-.01
-11.77
75.9

4.84

3.98
0.0
2.78
231.88

1.91
-1.71
-4.37
-2.15

-28.03
0.0
-28.02
179.03

1.21
-1.56
-4.1
-2.18
14.38
.79
-4.37
-.08
-1.6
37.97

0.0
0.0

0.0

0.0
0.0

0.0

0.0

0.0
0.0

Pioneer Cement Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
7,683,391.
9,598,453.
7,683,391.
277,435.

721,605.
71,905.
96,757.
12,490.
540,453.
2,731,795.
528,495.
2,203,300.
2,746,796.

2,746,796.
2,926,405.
1,624,839.
1,624,839.
1,301,566.

4,153,574.
3,754,854.
398,720.
2,922,936.

1,230,638.
171,781.
171,781.
196,949.
933,071.
17,718.
162,484.
73,118.

5,673,201.
752,869.
528,495.
.03
4.74
.3
.49
.26
70.37

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.87
12.2
36.05
17.96
5.63
42.93
22.46
0.0
5.63
18.01
350

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

2007
7,510,640.
9,795,845.
7,510,640.
375,728.
0.0
1,099,857.
305,491.
150,294.
29,717.
0.0
614,355.
5,330,890.
1,002,991.
4,327,899.
609,180.
0.0
609,180.
2,670,427.
1,698,148.
1,698,148.
0.0
972,279.
-

2008
2009
9,570,865.
9,327,157.
745.
12,291,354. 12,408,101.
9,570,865.
9,253,929.
435,306.
380,318.
0.0
0.0
0.0
72,483.
901,724.
1,020,577.
139,183.
159,302.
68,691.
146,066.
40,124.
37,402.
0.0
0.0
653,726.
677,807.
3,910,850.
3,489,131.
1,675,618.
2,215,425.
2,235,232.
1,273,706.
2,016,423.
2,277,173.
1,344,254.
8,731.
0.0
0.0
25,155.
2,016,423.
899,033.
4,545,316.
4,581,430.
1,995,324.
1,995,324.
1,995,324.
1,995,324.
0.0
0.0
2,549,992.
405,217.
405,217.
2,180,889.

4,648,655.
4,276,682.
371,973.
4,330,477.
-

0.0

0.0
33,247.
455,685.
4,338,847.
2,227,552.
2,227,552.
0.0
-9334
0.0
-9334
2,120,629.

6,858,603.
1,344,254.
17,562.
3,559,679.

5,417,155.
587,028.
-1055016
3,688,882.

.06
9.03
.75
.48
.29
73.34

.02
10.14
.95
.38
.27
102.09

1,109,233.
4,908,339.
3,101,854.
1,806,485.
1,078,308.
587,028.
2,348.

3,279,607.
6,561,739.
0.0
0.0
-202741
-598528
1,002,991.
1,675,618.

513,613.
705,054.

148,458.

0.0

365,848.
413,203.
-184441
-574014
18,300.
24,514.
0.0
0.0
0.0
0.0
-

53,562.
1,334,028.
55,872.
132,072.
36,851.

3,872,834.
3,192,886.
679,948.
3,953,814.
652,825.
3,300,989.
-80980
405,966.
158,842.
247,124.
74,778.
392,658.
377,394.
-859319
195,697.

318,178.
148,458.
-

0.0
0.0

5,000,235.
3,957,827.
1,042,408.
3,667,343.
542,726.
3,124,617.
1,332,892.
735,168.
359,975.
375,193.
100,551.
451,465.
436,764.
174,306.
156,744.
0.0
0.0
913,565.

6,607,418.
5,150,358.
1,457,060.
6,093,805.

(Thousand Rupees)
2010
8,991,466.
3,917.
12,408,101.
8,933,987.
391,843.

705,054.
-

.06
7.87
.64
.54
.21
93.16

.05
6.25
.61
.63
.23
92.23

0.0
0.0
-82389

2.22
-2.17
-6.59
-4.12
-

1.3
-6.02
-15.91
-11.67
-

30.93
-

1.38
-8.31
-19.27
-14.

34.23
1.4
3.49
.16
.09
22.96

29.32
-1.28
-22.19
-.01
-4.74
19.48

96.19

-3.97
0.0
-1.19
15.73

1.26
1.67
3.82
2.6

-8.69
0.0
-3.
22.78

2011

2011
8,663,169.
15,685.
12,444,883.
8,597,289.
379,066.
989.
0.0
49,206.
1,184,191.
150,172.
160,926.
21,475.
0.0
851,618.
4,404,220.
2,700,614.
1,703,606.
917,738.
404,567.
0.0
0.0
41,431.
471,740.
4,525,402.
2,271,489.
2,271,489.
0.0
195,136.
0.0
195,136.
2,058,777.
5,272,888.
4,305,574.
967,314.
4,531,162.
286,960.
4,244,202.
741,726.
332,183.
150,576.
181,607.
257,706.
357,916.
344,973.
71,824.
53,984.
0.0
0.0
915,716.
5,443,140.
404,567.
17,840.
3,105,181.
.04
6.79
.41
.54
.27
85.93

1.18
.71
1.62
1.32
32.77
1.21
1.36
.17
.08
19.92

Thatta Cement Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

351

2011

Financial Statement Analysis of Non Financial Sector

2007
-

2008
744,289.
2,026,105.
744,289.
46,643.
0.0
602,063.
6,367.
175,879.
134,212.
0.0
285,605.
608,941.
244,641.
364,300.
166,662.
0.0
166,662.
570,749.
797,745.
797,745.
0.0
-226996
-

1,820,866.
1,313,319.
507,547.
1,611,427.

737,411.
0.0
46,534.
244,641.

.23
4.69
7.37
1.35
.99
88.5

209,439.
132,550.
132,550.
85,428.
53,797.
7,263.
0.0
0.0
-

(Thousand Rupees)
2009
2010
2011
824,853.
851,985.
934,555.
74,727.
0.0
896.
2,074,468.
2,209,451.
2,212,383.
747,422.
848,781.
801,804.
46,009.
50,731.
52,659.
2,616.
3,116.
3,216.
0.0
0.0
127,847.
88.
88.
792.
594,336.
585,639.
1,055,648.
11,815.
10,266.
296,756.
225,301.
238,864.
219,291.
56,135.
49,649.
88,672.
38,597.
0.0
0.0
262,488.
286,860.
450,929.
507,111.
571,714.
870,285.
326,434.
333,076.
554,879.
180,677.
238,638.
315,406.
141,267.
90,347.
142,259.
83,333.
41,666.
103,037.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
57,934.
48,681.
39,222.
770,811.
775,563.
977,659.
797,745.
797,745.
797,745.
797,745.
797,745.
797,745.
0.0
0.0
0.0
-26934
-22182
179,914.
0.0
0.0
276,654.
-26934
-22182
-96740
0.0
0.0
0.0
1,795,109.
1,109,983.
685,126.
1,298,132.
123,118.
1,175,014.
496,977.
185,070.
130,108.
54,962.
16,393.
63,718.
62,813.
263,398.
15,040.
0.0
0.0
165,182.

1,544,124.
1,854,649.
823,304.
1,202,158.
720,820.
652,491.
1,266,771.
1,615,681.
98,429.
127,525.
1,168,342.
1,488,156.
277,353.
238,968.
246,114.
282,961.
190,965.
224,608.
55,149.
58,353.
24,785.
144,586.
45,532.
78,789.
43,653.
56,720.
1,769. -64251
11,692.
19,218.
0.0
0.0
0.0
0.0
75,239. -125496

912,078.
865,910.
1,119,918.
83,333.
41,666.
103,037.
-83469
248,358. -9923
409,767.
374,742.
657,916.
.21
3.55
3.13
1.26
1.17
72.31

.1
2.95
3.22
1.07
1.02
82.04

.44
4.25
4.78
.93
1.21
87.12

1.36
4.
9.43
7.3
10.35
2.95
0.0
.58
7.15

.84
19.05
39.27
31.94

.85
.12
.23
.2

7.97
5.19
14.67
.25
3.11
9.66

6.46
1.04
.11
.11
-.12
9.72

1.04
-3.75
-7.33
-6.47
-

8.46
-.13
-3.46
-.12
-1.05
12.26

Zeal Pak Cement Factory Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,568,641.
1,658,784.
1,266,726.
86,469.
301,915.

1,183,194.
6,472.
213,188.
482,718.
0.0
480,816.
1,016,202.
654,964.
361,238.
415.

0.0
415.
1,735,218.
1,700,000.
1,700,000.
0.0
35,218.

1,423,974.
1,423,974.
0.0
1,306,731.

117,243.
164,895.
164,895.
58,824.
-104533
5,053.
0.0
0.0

1,735,633.
0.0
-109586
654,964.
.48
4.13
33.9
.52
1.16
91.77

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.59
-3.88
-5.87
-5.86
6.68
-7.34
0.0
-.64
10.21
352

Financial Statement Analysis of Non Financial Sector

2007
1,189,122.
1,657,107.
1,189,122.
78,927.
0.0
1,066,368.
580.
162,539.
326,739.
0.0
576,510.
983,269.
700,367.
282,902.
188.
0.0
188.
1,272,033.
1,700,000.
1,700,000.
0.0
-427967
-

2011

(Thousand Rupees)
2008
2009
2010
2011
2,030,061.
1,908,234.
1,795,364.
1,714,810.
15,007.
15,323.
36,501.
2,843,445.
2,843,600.
2,842,411.
2,842,411.
2,030,061.
1,886,003.
1,772,057.
1,671,039.
144,994.
127,841.
113,633.
101,018.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
7,224.
7,984.
7,270.
950,084.
998,895.
758,566.
555,418.
6,648.
19,685.
1,797.
1,196.
180,801.
183,234.
51,828.
46,938.
345,846.
327,272.
239,756.
196,810.
0.0
0.0
0.0
0.0
416,789.
468,704.
465,185.
310,474.
1,437,555.
1,767,395.
1,973,042.
2,126,725.
709,913.
709,776.
700,388.
274,586.
727,642.
1,057,619.
1,272,654.
1,852,139.
117,278.
236,974.
239,859.
281,421.
94.
0.0
0.0
215,020.
218,407.
261,044.
0.0
0.0
0.0
0.0
15,296.
13,389.
13,813.
117,278.
6,564.
8,063.
6,564.
1,425,312.
902,760.
341,029. -137918
4,278,385.
4,278,385.
4,278,385.
4,278,385.
4,278,385.
4,278,385.
4,278,385.
4,278,385.
0.0
0.0
0.0
0.0
-2853073
-4676439
-5178326
-5617566
10,904.
10,904.
10,904.
-4687343
-5189230
-5628470
1,300,814.
1,240,970.
1,201,263.

697,250.
697,250.
0.0
857,239.

453,476.
453,476.
0.0
926,407.

-159989
206,358.
206,358.
74,937.
-432898
2,361.
0.0
0.0
-

-472931
200,621.
200,621.
69,104.
-738391
1,595.
0.0
0.0
-

569,065.
227,757.
131,525.
569,065.
227,757.
131,525.
0.0
0.0
0.0
990,112.
608,897.
200,550.
125,096.
118,504.
73,221.
865,016.
490,393.
127,329.
-421047
-381140
-69025
42,281.
110,210.
126,618.
2,697.
1,197.
896.
39,584.
109,013.
125,722.
77,088.
53,145.
38,221.
59,203.
70,836.
56,126.
57,080.
69,798.
54,915.
-521592
-560591
-477249
0.0
1,140.
1,699.
0.0
0.0
0.0
0.0
0.0
0.0
-44366
-12925
405,957.

1,272,221.
1,542,590.
1,139,734.
580,888.
143,503.
0.0
0.0
94.
0.0
0.0
-435259
-739986
-521592
-561731
-478948
700,367.
709,913.
709,870.
700,388.
274,586.
.33
10.75
46.86
.31
1.08
122.95

.25
15.24
76.27
.15
.66
204.29

.2
10.4
57.51
.2
.57
173.99

.12
31.1
105.27
.09
.38
267.35

.09
42.67
149.64
.06
.26
152.48

.77
-17.29
-28.79
-28.78
-

1.09
-28.21
-54.75
-52.46
-

4.29
-

2.51

-62.09
0.0
-2.56
7.48

2.22
-17.72
-44.81
-38.89

-162.83
0.0
-1.73
3.33

6.49
-20.53
-90.14
-65.16
-

3.11
-8.14
-91.66
-.02
-1.22
2.11

-17.46
-19.79
-469.94
-131.77
-

4.39
-7.03
-246.14
-.01
-1.31
.8

2.8
-7.69
-362.86
.17
-1.12
-.32

MINERAL PRODUCTS

UCTS

Mineral products - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
5,155,750.
7,643,831.
5,178,095.
492,212.
-22345

4,021,059.
161,326.
1,383,876.
1,053,214.
926.
1,421,717.
4,523,422.
1,704,914.
2,818,508.
837,248.

837,248.
3,816,139.
1,552,135.
1,552,135.
2,264,004.

8,474,787.
8,039,570.
435,217.
6,764,445.

1,710,342.
751,703.
751,703.
288,138.
827,397.
97,645.
209,006.
159,942.

4,653,387.
520,746.
1,704,914.
.27
3.4
12.43
.92
.89
79.82

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.4
10.59
26.39
20.59
3.49
6.12
9.76
0.0
4.38
22.91
355

2011

Financial Statement Analysis of Non Financial Sector

(Thousand Rupees)
2010
2011
11,179,412. 12,379,087.
627,813.
1,603,549.
15,297,031. 36,102,468.
10,282,747. 10,496,080.
878,203.
947,648.
268,852.
279,458.
6,610,841.
6,935,656.
275,960.
941,713.
2,174,691.
2,299,878.
1,938,799.
1,552,010.
0.0
2,221,391.
2,142,055.
5,577,959.
6,323,422.
1,092,774.
1,236,849.
4,485,185.
5,086,573.
5,807,249.
4,617,524.
4,148,531.
3,039,113.
497,080.
497,080.
0.0
81,431.
85,998.
1,080,207.
995,333.
6,405,045.
8,373,797.
2,917,733.
3,837,357.
2,917,733.
3,837,357.
0.0
2,686,395.
3,408,450.
690,397.
1,124,044.
1,995,998.
2,284,406.
800,917.
1,127,990.

2007
5,981,208.
9,562,208.
5,981,208.
549,795.
0.0
4,660,968.
241,726.
1,549,155.
1,032,444.
7,417.
1,830,226.
5,268,238.
2,081,866.
3,186,372.
1,168,813.
0.0
0.0
1,168,813.
4,205,125.
1,776,713.
1,776,713.
0.0
0.0
2,428,412.
-

2008
6,941,645.
10,980,568.
6,941,645.
606,156.
0.0
5,472,895.
237,872.
1,721,041.
1,169,172.
7,318.
2,337,492.
5,217,977.
1,963,849.
3,254,128.
2,353,621.
0.0
2,353,621.
4,842,942.
2,315,519.
2,315,519.
0.0
2,527,423.
-

2009
10,423,762.
308,974.
13,946,516.
9,976,176.
1,080,693.
138,612.
6,192,403.
267,433.
2,367,095.
984,419.
0.0
2,573,456.
5,212,558.
727,529.
4,485,029.
5,702,556.
4,109,767.
708,705.
0.0
77,176.
806,908.
5,701,051.
2,699,566.
2,699,566.
0.0
2,871,747.
2,871,747.
129,738.

9,267,294.
8,439,355.
827,939.
7,563,684.

10,739,290.
9,785,849.
953,441.
8,966,296.

12,417,521.
11,033,259.
1,384,262.
9,962,082.
4,270,898.
5,691,184.
2,455,439.
1,269,810.
758,965.
510,845.
1,391,598.
736,927.
562,652.
667,510.
283,578.
283,341.
88,168.
1,310,120.

15,782,859.
14,602,076.
1,180,783.
12,548,628.
4,948,647.
7,599,981.
3,234,231.
1,537,654.
1,034,272.
503,382.
1,646,214.
881,382.
821,114.
892,865.
383,085.
301,724.
96,985.
1,184,998.

17,207,322.
16,109,230.
1,098,092.
13,585,914.
3,532,740.
10,053,174.
3,621,408.
1,907,475.
1,139,152.
768,323.
1,959,190.
821,722.
746,563.
1,043,051.
427,255.
198,067.

1,703,610.
906,553.

1,772,994.
1,048,105.
-

906,553.
-

1,048,105.
-

330,914.

427,635.
-

569,562.
62,933.
189,678.
67,306.
-

0.0

399,334.
178,800.
186,125.
74,770.
-

2,249,164.

5,373,938.
0.0
316,951.
2,081,866.

7,196,563.
0.0
34,409.
1,963,849.

11,403,607.
4,109,767.
100,591.
4,837,296.

12,212,294.
4,148,531.
208,056.
5,241,305.

12,991,321.
3,039,113.
417,729.
4,275,962.

.24
3.57
11.14
.87
.88
81.62

.27
3.98
10.89
.87
1.05
83.49

.24
5.93
7.93
.75
1.19
80.23

.4
5.58
12.28
.89
1.19
79.51

.39
4.78
9.02
.89
1.1
78.95

1.53
5.75
14.2
11.36
2.67
5.98
-

1.56
3.46
8.83
6.35
1.18
6.24
-

6.15
0.0
2.65
21.98

3.72
0.0
.89
19.53

1.91
4.6
12.66
7.18
1.36
5.25
2.19
5.38
.12
1.25
18.63

1.78
5.19
14.75
7.56
1.69
7.26
2.09
5.66
.1
1.55
19.54

1.31
5.62
14.12
8.28
3.11
7.48
2.4
6.06
.21
1.35
18.37

0.0

0.0

0.0

Growth with Composition of Assets & L

14
12
10
8
Billion Rs

9.7%
4.7%

6
4
2
0
Non-Current Assets
Current AssetsCurrent Liabilities
2010

Growth & Composition of Operations

20
15

10

8.3%

Billion Rs
5
0
Sales

Gross Profit

Profitability/Efficiency Ratios
16
14
12
10
8

2010

14.75 14.12

2011
7.56 8.28
5.19 5.62

Percentage 6
4
2
0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

3,000.%
23.5% 20%
1,000.%

11.8%

0.0%
-1,000.%
-2,000.%
-25.8%
-3,000.%

Current Liabilities

Non-Current
Liabilities

2011

Shareholders Equity
Growth

of Operations
2010

2011

Growth
1,600.%
14.4% 1,400.%
1,200.%
1,000.%

10.7%

800.%
600.%
400.%
200.%
0.0%
Net Profit Before Tax

Key Performance Indicators

7

6.06 2010
5.66

6
5
4

2011

3
Percentage
2
1.19 1.1

1.78
1.31

1.55 1.35

1
0
Current

Debt

Net

Earning

Ratio

Equity
Ratio

Profit
Margin

Per Share
after Tax

Balochistan Glass Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,209,237.
1,775,562.
1,209,237.
96,779.
0.0

1,157,238.
12,592.
554,840.
205,426.
0.0
384,380.
1,606,720.
708,547.
898,173.
286,570.

0.0
286,570.
473,185.
429,000.
429,000.
0.0
44,185.

1,322,374.
1,219,626.
102,748.
1,094,447.

227,927.
82,442.
82,442.
127,738.
26,998.
5,811.
0.0
0.0

759,755.
0.0
21,187.
708,547.
.14
9.66
15.53
.56
.72
82.76

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.
1.22
6.61
3.49
2.38
2.04
0.0
.49
11.03
357

Financial Statement Analysis of Non Financial Sector

2007
1,457,054.
2,138,134.
1,457,054.
114,755.
0.0
1,315,754.
13,865.
603,174.
232,144.
0.0
466,571.
1,960,274.
1,044,040.
916,234.
433,063.
0.0
433,063.
379,471.
429,000.
429,000.
0.0
-49529
-

2008
1,322,720.
2,158,179.
1,322,720.
154,379.
0.0
1,428,705.
17,204.
586,522.
338,833.
0.0
486,146.
1,568,537.
776,726.
791,811.
830,655.
0.0
830,655.
352,233.
858,000.
858,000.
0.0
-505767
-

2009
1,360,688.
172,949.
2,162,284.
1,187,739.
139,086.
0.0
1,433,827.
34,484.
552,558.
253,162.
0.0
593,623.
1,561,056.
1,561,056.
1,389,570.
888,283.
482,080.
0.0
19,207.
0.0
-156111
858,000.
858,000.
0.0
-1014111
-1014111
-

(Thousand Rupees)
2010
2011
1,679,680.
1,636,090.
139,967.
196,210.
2,631,731.
2,655,910.
1,531,690.
1,416,621.
125,808.
141,458.
8,023.
23,259.
979,799.
595,345.
16,105.
6,306.
199,389.
65,397.
256,977.
126,298.
0.0
0.0
507,328.
397,344.
1,509,598.
1,594,163.
1,509,598.
1,594,163.
1,628,368.
1,337,660.
1,027,535.
738,188.
482,080.
482,080.
23,898.
28,542.
94,855.
88,850.
-478487
-700388
858,000.
858,000.
858,000.
858,000.
0.0
0.0
-1613780
-1827018
343,200.
-1613780
-2170218
277,293.
268,630.

1,369,903.
1,030,125.
339,778.
1,201,151.

1,345,472.
1,140,567.
204,905.
1,524,606.

1,033,035.
505,524.
527,511.
1,220,379.
434,820.
785,559.
-187344
111,744.
111,744.
165,142.
209,183.
196,043.
-503129
5,215.
0.0
3,734.

1,099,308.
953,822.
145,486.
1,451,586.
634,616.
816,970.
-352278
50,360.
50,360.
187,832.
196,970.
194,355.
-598460
5,497.
0.0
10,551.

168,752.
113,224.

113,224.

2011

166,051.
-105600
6,176.
0.0
0.0
-

-179134
80,659.
80,659.
217,686.
-476265
5,941.
0.0
0.0
-

1,098,795.
934,895.
163,900.
1,356,790.
525,565.
831,225.
-257995
169,952.
169,952.
194,096.
186,252.
168,678.
-569934
1,639.
0.0
24,890.

812,534.
1,182,888.
1,233,459.
1,149,881.
637,272.
0.0
0.0
888,283.
1,027,535.
738,188.
-111776
-482206
-508344
-603957
-571573
1,044,040.
776,726.
888,283.
1,027,535.
738,188.
.13
12.12
16.95
.49
.67
87.68

.23
16.18
25.18
.49
.91
113.31

.18
20.25
24.51
.37
.92
118.14

.18
17.92
23.38
.41
.65
132.05

.08
16.95
11.49
.49
.37
123.48

6.31
-4.11
-24.77
-13.43
-

6.81
-17.24
-130.18
-47.74
-

2.27
-

2.29

-7.71
0.0
-2.61
8.85

-18.9
-18.14
-513.08
-41.64

-35.4
0.0
-5.62
4.11

-6.56
-21.95
188.61
-50.22
-

1.87
-1.57
-48.7
0.0
-5.92
-1.82

-4.19
-23.31
96.69
-63.78
-

5.51
-2.08
-54.44
0.0
-7.04
-5.58

16.8
-2.38
-51.87
.01
-6.66
-8.16

Frontier Ceramics Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
335,433.
0.0
335,433.
0.0
0.0

147,988.
502.
61,121.
62,681.
0.0
23,684.
347,835.
84,019.
263,816.
0.0

0.0
0.0
135,586.
77,412.
77,412.
0.0
58,174.

5,362.
5,362.
0.0
9,971.

-4609
4,374.
4,374.
8.
-8712
22.
0.0
0.0

135,586.
0.0
-8734
84,019.
.18
.15
1,168.99
.01
.43
185.96

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.57
-1.81
-6.
-5.94
.09
-162.48
0.0
-1.13
17.51
358

Financial Statement Analysis of Non Financial Sector

2007
352,930.
610,747.
352,930.
13,619.
0.0
187,635.
260.
91,168.
71,904.
0.0
24,303.
424,281.
0.0
424,281.
0.0
0.0
0.0
116,284.
77,412.
77,412.
0.0
38,872.
56,692.
56,692.
0.0
62,584.

-5892

-17394

11,891.
11,891.
163.

242.
0.0
0.0
-

2008
344,597.
617,247.
344,597.
14,832.
0.0
100,478.
964.
57,949.
22,975.
0.0
18,590.
150,607.
0.0
150,607.
283,381.
0.0
283,381.
11,087.
77,412.
77,412.
0.0
-66325
-

94,326.
94,326.
0.0 179,240.
-84914
26,532.
26,532.
236.
-104790
408.
0.0 0.0
-

116,284.
294,468.
0.0
0.0
-17636
-105198
0.0
0.0
.17
.29
126.83
.1
.44
110.39

2009
338,567.
623,970.
286,986.
336,984.
51,581.
105,147.
3,608.
67,662.
13,401.
0.0
20,476.
147,752.
147,752.
191,436.
88,855.
102,005.
0.0
0.0
576.
104,526.
77,412.
77,412.
27,114.
27,114.
-

.16
.25
24.36
.21
.67
190.02

2011

(Thousand Rupees)
2010
2011
736,084.
753,234.
51,872.
101,272.
983,623.
690,832.
682,698.
650,447.
166.
32,357.
1,514.
1,515.
106,143.
66,944.
1,424.
3,607.
73,375.
46,672.
6,427.
405.
0.0 24,917.
16,260.
223,346.
338,973.
1,910.
1,910.
221,436.
337,063.
375,543.
222,498.
250,930.
98,285.
0.0 0.0 124,613.
124,213.
243,338.
258,707.
77,412.
77,412.
77,412.
77,412.
0.0
-231538
-200122
-231538
-200122
397,464.
381,417.

124,238.
124,238.

168,926.
168,926.
-

121,782.
40,197.
81,585.
2,456.
21,838.
4,642.
17,196.
20,233.
814.
512.
93,619.
180.

333,246.
333,246.
-

145,371.
54,648.
90,723.
23,555.
14,864.
3,451.
11,413.
26,398.
1,423.
1,218.
17,776.
845.
-

243,654.
62,849.
180,805.
89,592.
69,630.
3,558.
66,072.
32,516.
1,423.
1,064.
18,539.
3,478.
-

0.0
47,616.

0.0
89,446.

0.0
104,899.

295,962.
88,855.
93,439.
88,855.

618,881.
250,930.
16,931.
252,840.

481,205.
98,285.
15,061.
100,195.

.12
.66
10.79
.28
.71
98.02

.04
.84
3.8
.2
.48
86.06

.01
.43
.12
.41
.2
73.12

3.65
-3.4
-13.81
-13.81
-

39.14
-21.26
-164.54
-51.02
-

.62
-

1.63

-30.68
0.0
-2.28
15.02

3.25
21.07
161.95
31.71

-111.09
0.0
-13.59
1.43

2.46
2.76
10.22
3.89
-

1.84
183.85
75.35
.14
12.07
13.5

2.17
2.23
7.39
3.37
-

2.3
15.59
10.52
.15
2.19
31.43

7.14
18.42
5.56
.19
1.95
33.42

Ghani Glass Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,872,284.
2,402,593.
1,894,629.
194,526.
-22345

1,584,064.
32,541.
462,638.
419,644.
669,241.
1,184,072.
381,264.
802,808.
73,679.

73,679.
2,198,597.
639,767.
639,767.
1,558,830.

3,106,025.
2,886,897.
219,128.
2,396,547.

709,478.
234,067.
234,067.
56,856.
558,405.
15,407.
191,930.
159,942.

2,272,276.
351,068.
381,264.
.38
1.83
13.51
.9
1.34
77.16

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.57
23.28
34.73
33.5
2.83
6.71
17.98
0.0
8.49
34.37
359

2011

Financial Statement Analysis of Non Financial Sector

2007
1,953,395.
2,666,077.
1,953,395.
204,932.
0.0
2,022,085.
133,179.
550,753.
379,695.
0.0
6,592.
951,866.
1,413,640.
523,001.
890,639.
24,840.
0.0
0.0
24,840.
2,537,000.
799,709.
799,709.
0.0
0.0
1,737,291.
-

2008
2,261,022.
3,158,541.
2,261,022.
188,342.
0.0
2,419,586.
44,133.
658,121.
427,309.
6,592.
1,283,431.
1,722,867.
515,680.
1,207,187.
41,693.
0.0
41,693.
2,916,048.
839,694.
839,694.
0.0
2,076,354.
-

2009
2,788,400.
135,229.
3,623,554.
2,501,292.
229,989.
151,879.
2,187,798.
34,482.
792,309.
0.0
1,361,007.
1,106,714.
1,106,714.
408,613.
0.0
0.0
408,613.
3,460,871.
881,679.
881,679.
0.0
2,579,192.
2,579,192.
-

3,594,483.
3,212,934.
381,549.
2,817,343.

4,621,198.
3,960,868.
660,330.
3,376,931.

5,191,729.
4,491,860.
699,869.
3,665,639.
1,477,661.
2,187,978.
1,526,090.
461,921.
234,398.
227,523.
528,609.
149,758.

777,140.
349,323.

1,244,267.
457,742.
-

349,323.
-

457,742.
-

45,938.

70,960.
-

475,618.
14,374.
159,942.
39,985.
-

0.0

993,284.
280,523.
264,504.
88,168.
1,306,190.

6,533,755.
5,732,309.
801,446.
4,644,760.
1,535,082.
3,109,678.
1,888,995.
557,370.
291,734.
265,636.
601,636.
94,886.
46,173.
1,278,003.
330,808.
242,462.
96,985.
883,414.

6,869,476.
6,152,172.
717,304.
4,868,015.
1,589,344.
3,278,671.
2,001,461.
642,351.
330,980.
311,371.
734,444.
78,893.
32,495.
1,348,878.
330,808.
106,683.

807,801.
131,029.
167,939.
41,985.

(Thousand Rupees)
2010
2011
2,932,225.
3,983,946.
203,945.
1,155,169.
3,873,404.
4,299,137.
2,504,073.
2,622,134.
249,553.
292,121.
224,207.
206,643.
2,793,563.
3,155,361.
136,836.
367,580.
888,200.
1,104,281.
634,559.
533,039.
0.0
1,133,968.
1,150,461.
1,179,018.
1,846,128.
96,363.
610,331.
1,082,655.
1,235,797.
403,209.
421,508.
403,209.
421,508.
4,143,561.
4,871,671.
969,846.
1,066,831.
969,846.
1,066,831.
0.0
3,173,715.
3,804,840.
502,419.
502,419.
2,671,296.
3,302,421.
-

1,347,367.

2,561,840.
0.0
301,302.
523,001.

2,957,741.
0.0
508,833.
515,680.

3,869,484.
0.0
448,257.
0.0

4,546,770.
0.0
704,734.
96,363.

5,293,179.

.37
1.28
10.56
.9
1.43
78.38

.28
1.54
9.25
.99
1.4
73.07

.03
2.88
0.0
1.04
1.98
70.61

.65
1.45
9.71
1.14
2.37
71.09

.49
1.15
7.76
.96
1.71
70.86

911,387.
610,331.

.57
12.8
20.09
19.68
2.88
6.53
-

.61
18.66
29.63
29.27
4.03
7.02
-

13.23
0.0
5.77
31.72

.44
20.57
31.15
29.1
2.69
6.55
-

17.48
0.0
8.06
34.73

19.13
.86
8.08
39.25

.38
23.88
33.61
30.37
3.91
7.36
28.68
19.56
.56
9.77
42.72

.47
20.97
29.92
27.42
9.54
6.22
42.51
19.64
.59
9.54
45.66

0.0

0.0

Ghani Value Glass Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

360

2011

Financial Statement Analysis of Non Financial Sector

2007
-

2008
-

2009
178,184.
41.
144,965.
131,776.
46,367.
109,699.
3,479.
57,357.
21,658.
0.0
27,205.
171,141.
171,141.
0.0
0.0
0.0
0.0
116,742.
75,350.
75,350.
0.0
-41202
-41202
82,594.

(Thousand Rupees)
2010
2011
177,203.
189,229.
193,067.
207,272.
172,570.
177,340.
7,629.
9,437.
4,633.
11,889.
152,021.
184,655.
14,886.
2,013.
82,826.
106,910.
18,597.
30,302.
0.0
35,712.
45,430.
172,193.
216,661.
172,193.
216,661.
12,146.
13,489.
12,146.
13,489.
144,885.
143,734.
75,350.
75,350.
75,350.
75,350.
0.0
0.0
-13059
-14210
-13059
-14210
82,594.
82,594.

265,270.
229,199.
36,071.
248,970.
237,470.
11,500.
16,300.
16,424.
7,060.
9,364.
9,424.

390,640.
352,912.
37,728.
318,562.
262,370.
56,192.
72,078.
24,458.
9,825.
14,633.
12,103.
392.

346,419.
324,445.
21,974.
304,677.
234,491.
70,186.
41,742.
26,690.
13,874.
12,816.
17,782.
358.

6,552.
124.
18,838.
0.0
-53457

50,557.
2,236.
18,838.
0.0
24,958.

23,097.
4,068.
7,535.
0.0
26,444.

116,742.
0.0
-12410
0.0

157,031.
0.0
29,484.
0.0

157,223.
0.0
11,494.
0.0

.15
0.0
8.16
.92
.64
93.86

.19
.1
4.76
1.19
.88
81.55

.15
.1
8.75
.93
.85
87.95

1.47
2.28
5.61
5.61
.34
4.62
2.47
-.31
.85
15.49

1.27
16.39
38.65
36.93
2.57
4.72

1.6
6.57
16.01
14.7
2.53
3.24

12.94
.14
6.41
19.23

6.67
.11
2.53
19.08

Karam Ceramics Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
550,316.
1,165,311.
550,316.
60,313.
0.0

151,673.
24,823.
73,144.
42,180.
0.0
11,526.
341,775.
51,885.
289,890.
109,749.

0.0
109,749.
250,465.
109,118.
109,118.
0.0
141,347.

783,484.
783,484.
0.0
638,587.

144,897.
67,008.
67,008.
13,574.
65,697.
26,690.
0.0
0.0

360,214.
0.0
39,007.
51,885.
.2
1.73
5.38
1.12
.44
81.51

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.8
9.32
24.79
16.91
10.71
8.39
0.0
3.57
22.95
361

Financial Statement Analysis of Non Financial Sector

2007
726,184.
1,403,034.
726,184.
62,466.
0.0
102,303.
14,515.
59,097.
18,454.
0.0
10,237.
313,685.
43,000.
270,685.
210,829.
0.0
210,829.
303,973.
145,487.
145,487.
0.0
158,486.
-

2008
738,623.
1,483,407.
738,623.
68,095.
0.0
145,165.
34,433.
44,405.
51,748.
0.0
14,579.
458,040.
85,791.
372,249.
132,000.
0.0
132,000.
293,748.
145,487.
145,487.
0.0
148,261.
-

744,902.
744,902.
0.0
645,613.
-

834,464.
834,464.
0.0 695,597.
-

99,289.
65,041.
-

138,867.
64,005.
-

65,041.
-

64,005.
-

18,245.

42,052.
-

16,659.
4,706.
18,186.
0.0
-

2009
675,091.
744,784.
815,905.
71,470.
-140814
208,234.
24,316.
123,939.
20,425.
0.0
39,554.
186,702.
100,763.
85,939.
399,823.
231,657.
0.0
57,533.
110,633.
296,800.
145,487.
145,487.
104,169.
104,169.
47,144.

32,919.
3,865.
18,186. 0.0
-

2011

(Thousand Rupees)
2010
2011
695,198.
643,019.
84,703.
815,905.
880,719.
609,621.
642,122.
64,814.
67,930.
874.
897.
212,324.
223,880.
10,231.
10,231.
128,900.
128,900.
23,341.
23,341.
0.0
0.0
49,852.
61,408.
204,646.
276,525.
86,437.
132,445.
118,209.
144,080.
393,580.
275,660.
231,657.
118,004.
57,533.
57,456.
104,390.
100,200.
309,296.
314,714.
145,487.
145,487.
145,487.
145,487.
120,243.
128,881.
120,243.
128,881.
43,566.
40,346.

832,724.
832,724.

933,333.
933,333.

0.0
56,718.

514,802.
0.0
-6233
43,000.

425,748.
0.0
10,868.
85,791.

696,623.
231,657.
5,105.
332,420.

.11
2.45
2.48
.9
.33
86.67

.19
5.04
6.2
.94
.32
83.36

.24
4.8
2.45
.94
1.12
84.39

1,055,479.
1,055,479.

702,746.
206,902.
495,844.
129,978.
77,056.
53,456.
23,600.
102,690.
40,006.
38,087.
13,172.
8,067.

818,887.
224,340.
594,547.
114,446.
78,105.
57,650.
20,455.
112,222.
35,456.
34,470.
12,727.
8,547.
0.0
0.0
28,481.

926,283.
275,291.
650,992.
129,196.
75,174.
51,866.
23,308.
135,896.
42,287.
41,231.
12,155.
10,807.
14,549.
0.0
88,797.

702,876.
590,374.
231,657.
118,004.
4,180. -13201
318,094.
250,449.
.16
3.8
2.5
1.03
1.04
87.74

.12
4.01
2.21
1.22
.81
87.76

1.73
2.18
6.01
3.81
.66
12.6

2.01
3.85
11.01
7.
1.6 18.79
-

2.24
0.0
.82
20.89

3.94
0.0
2.
20.19

1.98
1.49
4.46
2.35

1.93
1.42
4.2
1.82
-

6.72
1.35
1.58
.1
.35
20.4

7.24
1.37
1.36
.05
.29
21.26

1.75
1.37
3.9
1.88
.09
8.19
1.29
1.15
.16
.09
21.63

Safe Mix Concrete Products Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

362

2011

Financial Statement Analysis of Non Financial Sector

2007
-

2008
-

2009
139,399.
755.
160,611.
132,112.
14,832.

168,276.
0.0
17,614.
0.0

.84
1.98
12.77
2.47
1.24
92.1

6,532.
147,391.
9,557.
28,779.
90,342.
0.0
18,713.
118,514.
118,514.
48,903.
0.0
0.0
48,903.
119,373.
70,000.
70,000.
0.0
49,373.
49,373.
-

(Thousand Rupees)
2010
2011
206,917.
193,874.
57.
954.
246,083.
242,639.
201,827.
188,693.
15,757.
11,678.
5,033.
4,227.
119,101.
128,379.
6,690.
4,895.
19,827.
35,090.
66,029.
59,698.
0.0
0.0
26,555.
28,696.
77,834.
95,259.
42,250.
41,488.
35,584.
53,771.
39,371.
23,148.
15,000.
15,000.
24,371.
8,148.
208,813.
203,846.
200,000.
200,000.
200,000.
200,000.
0.0
0.0
8,813.
3,846.
14,728.
14,728.
-5915
-10882
-

707,465.
707,465.

524,383.
524,383.
-

-10724

473,147.
379,417.
93,730.
29,043.
35,573.

35,573.
41,077.
13,390.
13,237.
-4512
-13173
2,622.
5,022.
0.0
0.0
2,222.
211.
27,047.
43,044.
11,670.
11,553.

0.0

495,612.
366,330.
129,282.
28,771.
27,047.

26,513.
41,723.
13,977.
13,977.
27,025.
9,411.

502,190.
502,190.

651,559.
497,654.
153,905.
55,906.
26,513.

248,184.
226,994.
0.0
0.0
-7134
-18195
42,250.
41,488.
.93
2.23
12.59
1.61
1.53
94.51

.68
2.67
11.89
1.56
1.35
94.22

1.4
9.42
22.64
16.06
24.58
2.93
3.82
-.06
2.52
17.05

.56
-1.47
-2.75
-2.17

.58
-4.06
-6.38
-5.54

26.45
.61
-.86
.02
-.36
10.44

14.31
0.0
-2.62
0.0
-.91
10.19

Shabbir Tiles And Ceramics Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
594,628.
952,173.
594,628.
79,986.
0.0

614,110.
82,322.
153,251.
307,916.
926.
69,695.
485,588.
288,917.
196,671.
220,573.

0.0
220,573.
502,577.
113,838.
113,838.
0.0
388,739.

1,899,695.
1,881,331.
18,364.
1,467,442.

432,253.
259,001.
259,001.
49,496.
126,004.
44,747.
17,076.
0.0

723,150.
0.0
64,181.
288,917.
.81
2.61
16.21
1.57
1.26
77.25

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.41
11.35
26.52
18.75
4.76
12.4
6.63
0.0
3.57
22.07
363

Financial Statement Analysis of Non Financial Sector

2007
730,863.
1,175,521.
730,863.
89,538.
0.0
637,398.
67,694.
165,419.
309,816.
825.
93,644.
536,134.
298,809.
237,325.
264,745.
0.0
264,745.
567,382.
136,605.
136,605.
0.0
430,777.
-

2008
1,527,609.
2,089,019.
1,527,609.
117,296.
0.0
960,687.
135,230.
276,533.
311,780.
726.
236,418.
788,090.
430,376.
357,714.
955,128.
0.0
955,128.
745,078.
163,926.
163,926.
0.0
581,152.
-

1,995,818.
1,980,990.
14,828.
1,555,407.
-

440,411.
264,189.

264,189.

51,813.

126,143.
27,921.
0.0
27,321.

832,127.
0.0
98,222.
298,809.
.71
2.6
15.52
1.46
1.19
77.93

2009
4,130,006.
4,859,706.
4,113,866.
194,761.
16,140.
1,565,475.
147,860.
646,498.
565,391.
0.0
205,726.
1,485,960.
626,766.
859,194.
2,944,716.
2,769,983.
0.0
0.0
174,733.
1,264,805.
360,638.
360,638.
0.0
904,167.
904,167.
-

2011

(Thousand Rupees)
2010
2011
3,842,484.
3,590,477.
8,102.
4,864,865.
4,865,087.
3,818,024.
3,572,429.
307,996.
277,831.
16,358.
18,048.
1,792,732.
1,627,945.
75,232.
83,808.
637,232.
625,416.
897,711.
742,089.
0.0
182,557.
176,632.
1,779,982.
1,478,182.
826,991.
439,926.
952,991.
1,038,256.
2,640,039.
2,105,339.
2,543,980.
2,037,214.
96,059.
68,125.
1,215,195.
1,634,901.
360,638.
721,277.
360,638.
721,277.
0.0
0.0
854,557.
913,624.
854,557.
913,624.
-

2,363,278.
2,853,257.
4,061,423.
2,339,241.
2,853,257.
4,061,423.
24,037. 1,829,628.
2,068,445.
3,002,044.
1,051,676.
1,455,916.
1,016,769.
1,546,128.
533,650.
784,812.
1,059,379.
327,971.
446,795.
619,320.
383,930.
559,697.
327,971.
62,865.
59,623.
268,485.
388,717.
62,065.
266,836.
495,362.
263,402.
491,412.
144,765.
73,548. -51383
31,364. -25801
21,194.
0.0 0.0
32,785.
0.0
0.0
-70871
-198605

.48
9.35
19.82
.5
1.05
72.49

.55
12.2
22.1
.72
1.01
73.92

4,399,779.
4,399,779.
3,268,579.
3,268,579.
1,131,200.
667,580.
584,204.
83,376.
478,596.
457,614.
453,575.
13,492.
44,275.
0.0
0.0
313,105.

1,700,206.
4,209,521.
3,855,234.
3,740,240.
0.0
2,769,983.
2,543,980.
2,037,214.
-72577
-30783
113,401. 430,376.
3,396,749.
3,370,971.
2,477,140.
.57
2.63
13.19
.95
1.22
77.42

.56
10.4
16.87
.84
1.1
74.29

1.41
9.79
23.58
16.22
-

2.34
7.51
22.06
11.43
-

12.07
-

3.5
1.8
7.32
2.49
-

8.55
-

6.32
0.0
3.6
20.77

6.13
0.0
3.46 22.73

3.64
-.91
-4.14
-1.27

2.19
.25
.95
.36

6.37
.9
-1.27
-.04
-1.01
16.85

7.03
1.03
.31
.09
-.21
11.33

4.41
1.28
2.58
-.02
17.54

Tariq Glass Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
446,858.
1,058,398.
446,858.
52,882.
0.0

325,394.
7,784.
78,882.
9,239.
0.0
229,489.
468,803.
141,181.
327,622.
57,018.

0.0
57,018.
246,431.
110,000.
110,000.
0.0
136,431.

1,253,218.
1,158,241.
94,977.
1,077,042.

176,176.
91,519.
91,519.
25,462.
62,237.
4,449.
0.0
0.0

303,449.
0.0
57,788.
141,181.
.04
2.03
.74
1.62
.69
85.94

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.13
8.76
27.74
22.84
15.89
4.97
0.0
5.25
22.4
364

2011

Financial Statement Analysis of Non Financial Sector

2008
747,074.
1,474,175.
747,074.
63,212.
0.0
418,274.
5,908.
97,511.
16,527.
0.0
298,328.
529,836.
155,276.
374,560.
110,764.
0.0
110,764.
524,748.
231,000.
231,000.
0.0
293,748.
-

2009
813,427.
1,626,642.
806,500.
93,571.
6,927.
434,832.
9,647.
97,993.
20,040.
0.0
307,152.
434,719.
434,719.
319,495.
130,989.
124,620.
0.0
436.
63,450.
494,045.
231,000.
231,000.
0.0
263,045.
263,045.
-

1,400,867.
1,309,083.
91,784.
1,201,177.

1,480,552.
1,416,383.
64,169.
1,360,294.

1,409,803.
1,288,992.
120,811.
1,282,562.
324,518.
958,044.
127,241.
107,519.
75,479.
32,040.
255,292.
56,353.
50,631.
-36561
5,859.
0.0
30,914.

2,071,091.
1,874,968.
196,123.
1,671,806.
415,345.
1,256,461.
399,285.
166,130.
111,915.
54,215.
274,262.
45,223.
41,933.
188,157.
11,336.
40,425.
0.0
344,531.

2,601,938.
2,407,024.
194,914.
2,144,769.
465,783.
1,678,986.
457,169.
220,525.
154,670.
65,855.
324,783.
41,505.
36,283.
209,997.
27,158.
69,300.
0.0
343,451.

437,394.
635,512.
813,540.
0.0
0.0
130,989.
-42420
56,823. -11289
123,915.
155,276.
130,989.

933,437.
94,429.
136,396.
133,252.

1,864,834.
47,422.
113,539.
58,171.

.12
2.18
1.7
1.52
1.06
80.72

1.05
1.6
1.42
1.11
2.
82.43

199,690.
89,593.

(Thousand Rupees)
2010
2011
909,621.
1,389,218.
139,167.
149,944.
1,688,353. 22,260,872.
762,244.
1,226,294.
106,480.
114,836.
8,210.
12,980.
455,158.
953,147.
14,556.
463,273.
144,942.
187,212.
35,158.
36,838.
0.0
0.0
260,502.
265,824.
431,342.
477,531.
38,823.
10,749.
392,519.
466,782.
314,993.
218,222.
94,429.
47,422.
220,564.
170,800.
618,444.
1,646,612.
231,000.
693,000.
231,000.
693,000.
0.0
387,444.
598,609.
173,250.
263,697.
214,194.
334,912.
355,003.

2007
613,788.
1,278,901.
613,788.
56,759.
0.0
355,201.
11,451.
79,544.
14,303.
0.0
249,903.
531,595.
123,915.
407,680.
145,677.
0.0
145,677.
291,717.
115,500.
115,500.
0.0
176,217.
-

120,258.
91,196.
-

89,593.
-

91,196.
-

33,700.

34,636.
77,368. -5096
8,995.
6,193.
11,550.
0.0
0.0
0.0
-

.05
2.41
1.02
1.45
.67
85.75

.04
2.34
1.12
1.27
.79
91.88

.07
4.
1.42
1.13
1.
90.97

2.32
8.89
28.75
20.89
5.92 17.61
5.52
0.0
5.92
25.26

1.22
-.48
-1.25
-.95

1.53
-3.03
-7.18
-5.05
-

15.18
-.34
0.0
-.49
22.72

14.39
.28
-2.59
.04
-1.84
21.39

1.21
14.4
33.83
21.54
4.37
14.29
5.49
9.08
.46
7.65
26.77

.42
11.33
18.54
15.01
2.64
13.9
6.79
8.07
.49
2.64
23.76

MOTOR VEHICLES, TRAILERS AND

AUTOPARTS

ERS AND

Motor Vehicles, Trailers & Autoparts - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
21,574,208.
35,830,418.
21,234,458.
2,587,984.
339,750.

75,967,872.
23,043,312.
32,573,262.
3,781,823.
7,346,153.
9,223,322.
54,203,167.
7,826,550.
46,376,617.
4,349,836.

4,349,836.
38,989,077.
5,825,501.
5,825,501.
33,163,576.

199,008,700.
198,903,678.
105,022.
178,682,699.

20,326,001.
5,871,629.
5,871,629.
1,285,068.
17,322,380.
5,640,382.
5,614,899.
678,201.

43,338,913.
6,067,099.
7,826,550.
.63
.65
1.9
2.04
1.4
89.79

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.5
19.08
50.65
45.82
2.08
6.11
8.7
0.0
18.96
63.29
367

Financial Statement Analysis of Non Financial Sector

2007
26,144,111.
43,074,221.
25,596,159.
2,925,751.
547,952.
69,123,185.
20,614,201.
27,765,573.
4,450,132.
6,126,994.
10,166,285.
45,550,585.
5,792,357.
39,758,228.
4,564,770.
0.0
0.0
4,564,770.
45,151,941.
6,434,533.
6,434,533.
0.0
0.0
38,717,408.
205,866,248.
205,695,767.
170,481.
186,957,291.
18,908,957.
6,632,528.
6,632,528.
1,786,411.
13,834,060.
4,785,379.
3,130,947.
152,985.
-

0.0

49,716,711.
0.0
5,917,734.
5,792,357.
.68
.87
2.16
2.16
1.52
90.81

2011

(Thousand Rupees)
2008
2009
2010
2011
28,373,770. 32,617,761. 31,598,315. 32,976,513.
1,630,026.
905,931.
1,231,987.
48,234,261. 45,932,836. 53,728,961. 57,689,032.
27,845,540. 25,891,767. 27,435,586. 28,019,557.
3,269,274.
2,383,079.
2,900,458.
3,124,817.
528,230.
630,520.
696,588.
438,150.
925,673.
926,777.
1,175,551.
3,539,775.
1,633,433.
2,111,268.
63,528,768. 66,776,479. 85,662,782. 90,864,187.
12,113,151. 19,425,078. 25,736,609. 17,067,809.
26,291,808. 27,295,725. 32,250,154. 40,255,395.
5,945,807.
6,125,388.
6,713,582.
5,959,350.
6,178,649.
1,787,425.
7,188,563.
6,563,972.
12,999,353. 12,142,863. 13,773,874. 21,017,661.
40,117,110. 43,870,792. 56,837,250. 60,251,307.
7,933,026. 15,121,189. 14,794,788. 13,917,485.
32,184,084. 28,749,603. 42,042,462. 46,333,822.
2,721,626.
5,930,420.
5,710,560.
4,146,289.
3,054,426.
2,777,024.
963,659.
0.0
722,552.
722,552.
0.0
0.0 321,581.
468,087.
527,089.
2,721,626.
2,554,413.
1,742,897.
1,932,989.
49,063,802. 49,593,028. 54,713,287. 59,443,104.
7,232,752.
7,653,541.
7,836,087.
8,239,734.
7,232,752.
7,653,541.
7,836,087.
8,239,734.
0.0
0.0
0.0
41,831,050. 38,721,343. 43,055,075. 46,497,486.
1,792,127.
466,780.
451,378.
34,772,186. 39,537,881. 43,695,710.
3,218,144.
3,822,125.
4,705,884.
207,326,876.
207,137,804.
189,072.
192,965,276.
14,361,600.
6,518,772.
6,518,772.
2,258,305.
9,132,603.
3,108,152.
2,715,826.
94,267.
-

162,961,545.
162,885,407.
76,138.
150,538,065.
126,798,968.
23,724,131.
12,423,480.
7,602,786.
3,122,704.
4,480,082.
5,036,975.
2,695,836.
1,197,395.
4,853,407.
3,052,311.
3,354,180.
319,563.
7,599,530.

225,770,148.
225,599,786.
170,362.
206,283,256.
178,537,165.
27,746,091.
19,486,892.
8,127,767.
3,463,342.
4,664,425.
5,913,110.
1,722,657.
1,278,386.
13,605,657.
5,671,202.
4,684,136.
206,026.
18,746,120.

251,691,693.
251,016,680.
675,013.
231,094,607.
202,966,842.
28,127,765.
20,597,086.
8,586,359.
3,988,311.
4,598,048.
7,021,725.
2,379,182.
1,237,281.
13,902,143.
5,918,955.
4,854,633.
158,046.
7,898,748.

51,785,428. 55,523,448.
0.0
3,054,426.
3,308,625. -1553084
7,933,026. 18,175,615.

60,423,847.
2,777,024.
3,250,319.
17,571,812.

63,589,393.
963,659.
3,128,555.
14,881,144.

.7
.76
2.97
1.93
1.51
91.37

.49
.95
2.37
2.03
1.51
91.82

.6
1.09
2.87
2.26
1.58
93.07

.62
1.65
3.76
1.64
1.52
92.38

0.0

1.11
14.35
32.88
29.73
2.89
7.41
-

.87
9.76
19.39
17.99
2.22
7.89
-

6.72
0.0
13.37
66.7

4.4
0.0
7.96
64.84

1.
5.07
9.84
9.05
.54
5.97
5.05
2.98
.15
2.25
61.9

1.14
12.56
26.09
23.47
1.69
7.
11.64
6.03
.3
9.68
66.77

1.08
11.53
24.36
22.42
1.64
6.25
12.24
5.52
.12
9.28
69.13

Growth with Composition of Assets & L

100
80

4.2%

5.7%

60
Billion Rs

40
20
0
Non-Current Assets
Current AssetsCurrent Liabilities
2010

Growth & Composition of Operations

300
250
200

10.3%

150
Billion Rs
100
50
0
Sales

Gross Profit

Profitability/Efficiency Ratios
30

2010
26.09

25

20
15
Percentage 10

24.36 2011
23.47 22.42

12.56 11.53

5
0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

2,000.%
8.% 1,000.%
0.0%
-1,000.%

5.7%

-2,000.%
-3,000.%
-4,000.%
-5,000.%

-37.7%

Current Liabilities

Non-Current
Liabilities

2011

Shareholders Equity
Growth

of Operations
2010

2011

Growth
1,200.%
1,000.%
800.%
600.%

5.4%
400.%
2.1% 200.%
0.0%
Net Profit Before Tax

Key Performance Indicators

9.68 9.28
10

2010

2011
6.03 5.52

6
Percentage 4
2

1.51 1.51

1.14 1.08

Current

Debt

Net

Earning

Ratio

Equity
Ratio

Profit
Margin

Per Share
after Tax

Agriauto Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
127,109.
319,763.
127,109.
19,091.
0.0

900,898.
35,301.
312,497.
156,768.
352,920.
43,412.
175,914.
5,233.
170,681.
11,802.

0.0
11,802.
840,291.
120,000.
120,000.
0.0
720,291.

2,029,029.
2,029,029.
0.0
1,496,388.

532,641.
89,035.
89,035.
1,116.
460,688.
156,854.
42,000.
0.0

852,093.
0.0
261,834.
5,233.
3.1
.06
7.73
1.97
5.12
73.75

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.22
53.51
64.57
64.04
7.23
6.49
22.7
0.0
12.66
35.01
369

Financial Statement Analysis of Non Financial Sector

2007
152,633.
364,992.
152,633.
21,607.
0.0
1,054,575.
49,299.
310,054.
222,777.
425,934.
46,511.
158,184.
7,283.
150,901.
8,639.
0.0
8,639.
1,040,385.
120,000.
120,000.
0.0
920,385.
-

2008
303,374.
530,829.
303,374.
21,085.
0.0
1,168,158.
163,353.
285,016.
190,395.
439,230.
90,164.
231,554.
8,301.
223,253.
2,691.
0.0
2,691.
1,237,287.
120,000.
120,000.
0.0
1,117,287.
-

2,279,567.
2,279,567.
0.0
1,742,995.
-

3,980,258.
3,980,258.

1,049,024.
0.0
268,216.
7,283.

1,239,978.
0.0
260,392.
8,301.

1,475,504.
0.0
215,771.
0.0

1,846,396.
0.0
264,642.
0.0

2,170,972.
0.0
294,960.
0.0

4.41
.11
9.77
1.89
6.67
76.46

3.42
.08
7.66
1.69
5.04
79.4

3.14
.2
9.82
1.44
5.69
79.9

3.67
.03
7.92
1.82
5.95
75.52

4.99
.02
8.92
1.63
7.42
79.67

101,742.

2,456.

466,166.
155,950.
42,000.
0.0

(Thousand Rupees)
2010
2011
347,688.
395,546.
13,775.
43,266.
623,979.
669,216.
331,661.
348,031.
45,744.
49,484.
2,252.
4,249.
1,801,777.
2,051,841.
193,058.
126,541.
630,739.
605,767.
309,221.
355,221.
609,152.
896,603.
59,607.
67,709.
303,069.
276,415.
303,069.
276,415.
29,070.
20,389.
29,070.
20,389.
1,817,326.
2,150,583.
144,000.
144,000.
144,000.
144,000.
0.0
0.0
1,673,326.
2,006,583.
1,673,326.
2,006,583.
-

2,484,873.
2,413,309.
3,906,482.
2,484,873.
2,413,309.
3,906,482.
0.0 1,973,011.
1,928,143.
2,950,248.
1,638,386.
2,570,657.
289,757.
379,591.
511,862.
485,166.
956,234.
114,385.
124,905.
181,649.
43,459.
50,786.
114,385.
81,446.
130,863.
28,745.
161,869.
1,960.
4,748.
1,087.
1,040.
661.
427,852.
401,878.
685,273.
143,460.
128,507.
291,031.
24,000.
57,600.
129,600.
24,000.
30,000. 109,945.
370,771.

536,572.
101,742.
-

2009
556,830.
0.0
599,080.
344,480.
35,412.
0.0
210,375.
1,975.
1,114,661.
225,651.
448,686.
237,009.
152,038.
51,277.
195,987.
195,987.
33,336.
0.0
0.0
0.0
33,336.
1,442,168.
144,000.
144,000.
0.0
1,298,168.
1,298,168.
-

2011

3,170,927.
2,659,900.
511,027.
809,331.
204,098.
57,830.
146,268.
184,424.
837.
494.
672,581.
233,621.
144,000.
359,203.

.16
41.71
49.57
49.04
7.39
7.35
-

.19
31.94
37.57
37.38
11.85
8.72
-

20.45
0.0
12.93
43.35

17.22
0.0
11.85
51.55

.16
25.57
30.
29.6
4.75
5.38
387.42
16.65
.48
9.49
50.08

.18
35.87
42.05
41.26
3.04
6.19
1,037.72
17.54
1.12
13.69
63.1

.14
29.26
33.9
33.48
3.05
6.57
1,362.5
16.9
1.21
15.24
74.67

Al-Ghazi Tractors Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
252,243.
433,906.
252,243.
16,917.
0.0

7,026,146.
5,142,121.
731,002.
6,116.
526,808.
620,099.
3,728,509.
0.0
3,728,509.
0.0

0.0
0.0
3,549,880.
214,682.
214,682.
0.0
3,335,198.

9,148,272.
9,148,272.
0.0
7,513,225.

1,635,047.
286,766.
286,766.
2,761.
1,910,180.
645,000.
3,756,935.
0.0

3,549,880.
0.0
-2491755
0.0
1.52
.03
.07
1.26
1.88
82.13

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.05
26.3
57.25
57.25
.34
12.51
20.88
0.0
29.47
82.68
370

2011

Financial Statement Analysis of Non Financial Sector

2007
244,928.
448,614.
244,928.
28,303.
0.0
6,582,380.
4,384,551.
708,733.
24,271.
1,018,800.
446,025.
2,976,087.
0.0
2,976,087.
0.0
0.0
0.0
3,851,221.
214,682.
214,682.
0.0
3,636,539.
-

2008
235,452.
457,753.
235,452.
27,165.
0.0
6,850,558.
3,348,997.
1,931,399.
7,143.
446,760.
1,116,259.
2,658,238.
0.0
2,658,238.
0.0
0.0
0.0
4,427,772.
214,682.
214,682.
0.0
4,213,090.
-

9,209,528.
9,209,528.
0.0
7,556,042.
-

1,653,486.
294,878.

294,878.

3,012.

1,914,454.
662,951.
751,387.
0.0

2009
255,920.
499,336.
252,695.
28,614.
3,225.
7,124,751.
3,522,479.
1,253,682.
20,292.
0.0
2,328,298.
1,907,421.
1,907,421.
53,331.
0.0
21,871.
31,460.
5,419,919.
214,682.
214,682.
0.0
5,205,237.
5,205,237.
-

10,241,887. 15,764,825.
10,241,887. 15,764,825.
0.0 8,664,100. 13,119,011.
11,522,462.
1,596,549.
1,577,787.
2,645,814.
291,599.
395,896.
87,569.
291,599.
308,327.
308,178.
2,734.
2,154.
1,682,941.
2,658,834.
562,000.
915,299.
751,387.
858,728.
0.0
0.0
227,392.

(Thousand Rupees)
2010
2011
409,533.
479,743.
8,378.
129.
606,064.
649,153.
360,293.
373,166.
31,801.
34,537.
40,000.
74,000.
862.
32,448.
7,256,621.
8,059,527.
3,112,794.
2,477,110.
1,073,122.
2,731,395.
264,063.
14,339.
1,271,464.
1,080,849.
1,535,178.
1,755,834.
1,241,289.
1,717,363.
1,241,289.
1,717,363.
62,144.
66,376.
24,405.
25,393.
37,739.
40,983.
6,362,721.
6,755,531.
214,682.
214,682.
214,682.
214,682.
0.0
0.0
6,148,039.
6,540,849.
6,148,039.
6,540,849.
14,936,034.
14,936,034.
11,987,519.
11,220,970.
766,549.
2,948,515.
428,718.
92,605.
336,113.
322,174.
1,324.

10,113,572.
10,036,898.
76,674.
8,240,616.
8,149,894.
90,722.
1,872,956.
368,593.
82,474.
286,119.
325,756.
2,135.

2,900,113.
2,062,675.
983,529.
657,551.
858,728.
858,728.
0.0
0.0
1,548,399. -609573

3,851,221.
0.0
500,116.
0.0

4,427,772.
0.0
369,554.
0.0

5,473,250.
0.0
884,807.
0.0

6,424,865.
0.0
1,057,856.
0.0

6,821,907.
0.0
546,396.
0.0

1.82
.03
.26
1.35
2.21
82.05

1.43
.03
.07
1.45
2.58
84.59

1.86
.01
.13
2.14
3.74
83.22

3.74
.01
1.77
1.95
5.85
80.26

2.08
.02
.14
1.18
4.69
81.48

.77
27.14
51.73
51.73
1.67
12.99
-

.6
24.19
40.66
40.66
1.49
5.3
-

20.79
0.0
29.15
89.7

.36
36.76
54.
53.71
2.03
12.57
-

16.43
0.0
26.11
103.12

.2
38.55
49.23
48.75
2.23
13.92

.26
25.46
31.45
31.14
1.64
3.7

19.42
1.19
44.64
148.19

20.4
-.34
32.73
157.34

16.87
.12
40.61
126.23

Atlas Battery Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
239,712.
392,155.
239,712.
25,250.
0.0

323,175.
30,309.
218,012.
45,864.
254.
28,736.
247,435.
106,974.
140,461.
40,000.

0.0
40,000.
275,452.
52,874.
52,874.
0.0
222,578.

1,564,081.
1,556,340.
7,741.
1,375,018.

189,063.
115,097.
115,097.
17,877.
66,224.
6,070.
13,793.
6,897.

315,452.
0.0
46,361.
106,974.
.31
1.14
2.93
2.78
1.31
87.91

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.04
12.39
25.7
21.52
4.36
7.17
4.23
0.0
11.38
52.1
371

Financial Statement Analysis of Non Financial Sector

2007
310,995.
491,479.
310,995.
33,896.
0.0
444,247.
37,501.
306,171.
51,834.
0.0
48,741.
419,244.
171,200.
248,044.
0.0
0.0
0.0
335,998.
60,805.
60,805.
0.0
275,193.
-

(Thousand Rupees)
2008
2009
2010
2011
517,862.
637,733.
757,126.
907,754.
58,469.
75,404.
34,280.
680,655.
830,023.
986,170.
1,229,297.
517,862.
576,825.
680,935.
866,223.
35,679.
43,082.
54,226.
67,972.
0.0
0.0
0.0
2,439.
787.
1,122.
688,874.
588,698.
756,814.
1,172,913.
49,274.
28,892.
29,869.
93,952.
410,672.
434,594.
531,597.
717,004.
77,387.
88,521.
100,396.
89,625.
0.0
6,132.
26,224.
204,863.
151,541.
30,559.
68,728.
67,469.
626,638.
435,472.
544,754.
813,725.
313,002.
103,616.
174,598.
434,698.
313,636.
331,856.
370,156.
379,027.
0.0
85,627.
111,246.
138,411.
0.0
0.0 1,325.
1,453.
1,633.
0.0
84,302.
109,793.
136,778.
580,098.
705,332.
857,940.
1,128,531.
69,926.
69,926.
83,911.
100,693.
69,926.
69,926.
83,911.
100,693.
0.0
0.0
510,172.
461,620.
600,243.
854,052.
282,500.
179,120.
600,243.
854,052.
173,786.
173,786.
173,786.

2,065,403.
2,063,185.
2,218.
1,773,781.
-

3,376,598.
3,376,598.
0.0
2,989,715.
-

291,622.
148,619.
-

386,883.
183,145.
-

148,619.
-

183,145.
-

22,042.

41,536.
-

122,257.
26,540.
36,483.
46,649.
-

2011

164,131.
59,489.
52,445.
0.0
-

3,156,807.
3,153,601.
3,206.
2,626,740.
2,114,974.
511,766.
530,067.
215,799.
124,359.
91,440.
90,174.
43,537.
41,590.
272,880.
95,202.
69,926.
56,926.
406,363.

4,024,422.
4,024,422.

5,868,260.
5,868,260.

3,433,222.
2,841,250.
591,972.
591,200.
235,312.
128,861.
106,451.
102,918.
19,857.
17,612.
341,289.
101,989.
83,911.
16,782.
190,487.

5,007,421.
4,263,603.
743,818.
860,839.
310,488.
165,053.
145,435.
364,713.
37,515.
35,430.
525,101.
148,357.
100,693.
20,139.
280,876.

335,998.
0.0
59,234.
171,200.

580,098.
0.0
52,197.
313,002.

790,959.
0.0
107,752.
103,616.

969,186.
155,389.
174,598.

1,266,942.
0.0
276,051.
434,698.

.21
1.07
2.51
2.73
1.06
85.88

.2
1.23
2.29
2.8
1.1
88.54

.28
1.38
2.8
2.57
1.35
83.21

.29
.49
2.49
2.66
1.39
85.31

.48
.64
1.53
2.82
1.44
85.33

6,129.

1.25
18.55
39.99
37.53
2.62
6.75
-

1.08
16.73
35.83
35.83
2.
8.22
-

5.92
0.0
15.74
55.26

4.86
0.0
14.96
82.96

.74
22.43
42.46
39.81
2.54
7.26
7.56
8.64
.78
25.41
100.87

.76
24.91
43.66
38.78
2.85
7.57
20.38
8.48
.29
28.52
102.24

.84
29.22
52.87
46.97
3.74
8.18
15.82
8.95
.29
37.42
112.08

0.0
-

0.0

Atlas Engineering Ltd. (Allwin Engineering Industries Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
592,672.
908,668.
591,980.
44,949.
692.

311,057.
13,621.
207,842.
30,387.
0.0
59,207.
464,390.
231,816.
232,574.
169,062.

0.0
169,062.
270,277.
123,367.
123,367.
0.0
146,910.

1,114,687.
1,114,687.
0.0
976,487.

138,200.
45,878.
45,878.
35,653.
57,181.
4,737.
12,337.
0.0

439,339.
0.0
40,107.
231,816.
.09
3.2
2.73
1.23
.67
87.6

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.34
7.07
21.41
13.16
4.25
5.36
5.13
0.0
4.25
21.91
372

2011

Financial Statement Analysis of Non Financial Sector

2007
889,787.
1,258,104.
889,331.
53,776.
456.
247,550.
10,132.
154,634.
0.0
0.0
82,784.
460,902.
279,845.
181,057.
120,821.
0.0
120,821.
555,614.
123,367.
123,367.
0.0
432,247.
-

2008
876,807.
1,286,776.
876,110.
53,444.
697.
332,201.
6,778.
197,464.
44,042.
0.0
83,917.
528,655.
306,878.
221,777.
105,362.
0.0
105,362.
574,991.
123,367.
123,367.
0.0
451,624.
-

1,087,782.
1,087,782.
0.0
1,010,107.
-

77,675.
49,041.

49,041.

53,042.

-15574

4,629.
0.0
0.0

676,435.
0.0
-20203
279,845.
.02
4.88
0.0
.96
.54
92.86

2009
820,473.
2,201.
807,450.
510.
10,312.
330,215.
5,051.
120,626.
125,307.
79,231.
364,390.
175,123.
189,267.
144,660.
61,500.
22,615.
60,545.
641,638.
246,734.
246,734.
-20876
-20876
415,780.

1,411,651.
1,135,161.
1,411,651.
1,135,161.
0.0 1,269,887.
1,070,977.
62,018.
1,008,959.
141,764.
64,184.
58,619.
63,548.
18,470.
58,619.
45,078.
158,667.
53,861.
66,355.
61,292.
29,654. -59274
0.0
11,807.
9,253. 0.0
30,133.
8,507.
680,353.
786,298.
0.0
61,500.
20,401. -71081
306,878.
236,623.
.1
3.82
3.12
1.17
.63
89.96

.36
5.85
11.04
.99
.91
94.35

(Thousand Rupees)
2010
2011
854,852.
829,957.
44,929.
53,306.
1,284,324.
1,283,340.
799,131.
753,948.
44,830.
48,852.
86.
10,792.
22,617.
382,404.
512,661.
2,767.
14,979.
176,340.
223,259.
105,520.
156,839.
97,777.
117,584.
395,227.
455,207.
200,744.
266,936.
194,483.
188,271.
164,247.
197,500.
70,268.
117,691.
24,213.
26,060.
69,766.
53,749.
677,782.
689,911.
246,734.
246,734.
246,734.
246,734.
0.0
0.0
15,268.
86,817.
0.0
0.0
15,268.
86,817.
415,780.
356,360.
1,529,328.
1,529,328.

2,117,003.
2,117,003.

1,341,549.
960,716.
380,833.
187,779.
77,119.
20,690.
56,429.
191,676.
52,721.
51,540.
58,062.
21,918.

1,884,915.
1,418,595.
466,320.
232,088.
85,611.
23,299.
62,312.
205,403.
65,800.
64,415.
82,722.
11,173.

0.0
92,429. -16396

0.0

842,029.
70,268.
36,144.
271,012.

887,411.
117,691.
71,549.
384,627.

.27
3.45
6.9
1.24
.97
87.72

.38
3.11
7.41
1.58
1.13
89.04

1.05
-1.53
-3.77
-2.79

1.1
2.53
5.25
4.37
3.2 7.15

7.03
-

-1.43
0.0
-1.64
45.04

2.1
0.0
2.4
46.61

.79
-5.02
-9.74
-8.08

.83
4.86
8.8
7.13

.95
6.41
12.1
9.57

8.67
2.13
3.8
.17
1.46
27.47

9.48
2.28
3.91
-.03
2.9
27.96

9.41
.03
-5.22
.02
-2.88
26.01

Atlas Honda Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,627,822.
5,247,876.
3,598,732.
399,070.
29,090.

4,002,343.
682,088.
1,937,675.
280,448.
344,414.
757,718.
3,374,601.
387,191.
2,987,410.
1,590,097.

0.0
1,590,097.
2,665,467.
357,644.
357,644.
0.0
2,307,823.

20,547,248.
20,547,248.
0.0
18,917,531.

1,629,717.
604,081.
604,081.
151,611.
1,047,060.
138,014.
214,586.
53,647.

4,255,564.
0.0
694,460.
387,191.
.39
.74
1.36
2.69
1.19
92.07

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.86
15.26
43.84
28.69
4.24
10.6
5.1
0.0
25.42
74.53
373

2011

Financial Statement Analysis of Non Financial Sector

2007
3,591,255.
5,621,763.
3,566,931.
459,154.
24,324.
4,445,390.
919,623.
1,580,925.
282,246.
864,989.
797,607.
3,951,557.
465,829.
3,485,728.
1,109,267.
0.0
1,109,267.
2,975,821.
411,291.
411,291.
0.0
2,564,530.
-

2008
3,391,418.
5,867,597.
3,376,605.
459,144.
14,813.
5,313,233.
504,138.
1,862,069.
407,354.
1,391,343.
1,148,329.
4,602,965.
436,751.
4,166,214.
697,517.
0.0
697,517.
3,404,169.
472,985.
472,985.
0.0
2,931,184.
-

19,601,115.
19,601,115.
0.0
18,037,342.
-

1,563,773.
641,602.

641,602.

269,337.

803,515.
98,000.
246,775.
61,694.

2009
3,452,825.
187,161.
5,958,160.
3,225,740.
308,895.
16,601.
23,323.
3,927,828.
636,426.
1,792,036.
320,180.
455,816.
723,370.
3,108,529.
3,108,529.
950,862.
375,000.
0.0
64,849.
511,013.
3,321,262.
472,985.
472,985.
0.0
2,848,277.
2,848,277.
-

24,301,710. 13,747,820.
24,301,710. 13,747,820.
0.0 22,745,169. 12,782,165.
10,138,007.
2,644,158.
1,556,541.
965,655.
564,120.
450,843.
271,346.
564,120.
179,497.
400,527.
252,091.
251,777.
1,004,200.
352,779.
298,000.
128,246.
307,440.
141,896.
0.0
70,948.
807,624.

(Thousand Rupees)
2010
2011
3,263,096.
3,299,498.
64,231.
3,153.
6,237,214.
6,659,182.
3,160,666.
3,256,040.
440,775.
463,286.
8,053.
7,137.
30,146.
33,168.
5,259,180.
6,321,732.
1,641,963.
2,090,800.
1,664,297.
2,003,029.
445,689.
401,435.
1,088,996.
1,338,474.
418,235.
487,994.
3,517,937.
4,349,462.
3,517,937.
4,349,462.
1,112,515.
649,354.
512,500.
97,809.
129,329.
502,206.
520,025.
3,891,824.
4,622,414.
543,932.
625,522.
543,932.
625,522.
0.0
0.0
3,347,892.
3,996,892.
40,118.
40,118.
3,307,774.
3,956,774.
25,554,772.
25,554,772.

32,521,399.
32,521,399.

23,555,842.
19,025,794.
4,530,048.
1,998,930.
1,048,133.
690,794.
357,339.
901,072.
112,613.
97,970.
1,077,231.
373,580.
271,966.
81,590.
1,768,263.

30,080,978.
24,069,713.
6,011,265.
2,440,421.
1,235,802.
815,463.
420,339.
1,060,237.
93,475.
80,416.
1,410,481.
405,478.
406,589.
93,828.
2,009,360.

4,085,088.
0.0
458,740.
465,829.

4,101,686.
0.0
398,760.
436,751.

4,272,124.
375,000.
82,638.
375,000.

5,004,339.
512,500.
431,685.
512,500.

5,271,768.
0.0
598,414.
0.0

.52
1.37
1.44
2.44
1.12
92.02

.5
1.04
1.68
2.79
1.15
93.59

.45
1.83
2.33
1.86
1.26
92.98

.9
.44
1.74
3.
1.49
92.18

.88
.29
1.23
3.38
1.45
92.5

1.7
10.26
28.49
19.27
2.86
12.4
-

1.56
12.
31.48
24.53
2.3
13.05
-

4.1
0.0
17.15
72.35

1.22
4.39
10.49
8.43
1.58
7.67
-

4.13
0.0
14.93
71.97

2.57
.2
4.75
70.22

1.19
13.55
29.87
23.23
2.59
15.35
12.
4.22
.38
12.94
71.55

1.08
15.55
33.13
27.45
2.47
16.24
18.54
4.34
.4
16.07
73.9

Baluchistan Wheels Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
239,783.
650,472.
238,478.
20,677.
1,305.

590,002.
97,684.
319,377.
106,448.
2,371.
64,122.
251,609.
15,554.
236,055.
47,685.

47,685.
530,491.
133,343.
133,343.
397,148.

1,332,150.
1,323,964.
8,186.
1,028,223.

303,927.
77,642.
77,642.
7,468.
225,731.
75,257.
17,393.
17,393.

578,176.
133,081.
15,554.
.82
.56
7.99
1.61
2.34
77.19

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.56
31.74
48.34
44.88
8.65
4.17
16.94
0.0
11.28
39.78
374

2011

Financial Statement Analysis of Non Financial Sector

(Thousand Rupees)
2010
2011
405,330.
408,172.
962,266.
995,305.
399,774.
394,140.
45,346.
43,788.
440.
330.
611.
925.
4,505.
12,777.
605,613.
700,940.
12,377.
41,391.
403,513.
440,673.
120,664.
133,364.
0.0
69,059.
85,512.
164,240.
205,148.
164,240.
205,148.
76,814.
55,432.
19,786.
57,028.
55,432.
769,889.
848,532.
133,343.
133,343.
133,343.
133,343.
0.0
636,546.
715,189.
636,546.
715,189.
-

2007
353,235.
793,209.
353,235.
28,882.
0.0
613,445.
68,985.
318,348.
114,277.
2,479.
109,356.
278,127.
30,756.
247,371.
64,745.
0.0
0.0
64,745.
623,808.
133,343.
133,343.
0.0
0.0
490,465.
-

2008
374,795.
852,908.
374,795.
1,290.
0.0
610,375.
52,205.
275,420.
98,689.
77,562.
106,499.
238,169.
20,874.
217,295.
43,872.
0.0
43,872.
703,129.
133,343.
133,343.
0.0
569,786.
-

2009
416,875.
7,308.
924,966.
403,674.
43,432.
315.
5,578.
537,157.
30,510.
325,773.
92,550.
88,324.
143,988.
143,988.
87,439.
27,701.
0.0
0.0
59,738.
722,605.
133,343.
133,343.
0.0
589,262.
-

1,344,021.
1,323,090.
20,931.
1,057,512.

1,434,873.
1,402,842.
32,031.
1,168,730.

1,095,824.
1,050,353.
45,471.
963,741.
131,382.
832,359.
132,083.
84,523.
24,054.
60,469.
102,747.
18,455.
17,029.
53,007.
16,387.
20,001.
40,583.
107,131.

1,380,901.
1,337,810.
43,091.
1,113,091.
913,884.
199,207.
267,810.
110,011.
35,715.
74,296.
125,408.
12,219.
11,612.
148,355.
64,698.
26,669.
0.0
50,523.

1,465,209.
1,429,420.
35,789.
1,206,963.
904,308.
302,655.
258,246.
111,684.
34,568.
77,116.
141,426.
10,100.
9,183.
138,556.
43,559.
33,336.

286,509.
81,999.

266,143.
93,967.
-

81,999.
-

93,967.
-

14,849.

10,810.
-

196,129.
26,284.
26,669.
0.0
-

0.0

170,383.
54,321.
16,668.
0.0
-

34,274.

688,553.
0.0
143,176.
30,756.

747,001.
0.0
99,394.
20,874.

810,044.
27,701.
16,619.
27,701.

846,703.
19,786.
56,988.
19,786.

903,964.

.67
1.1
8.5
1.39
2.21
78.68

.96
.75
6.88
1.46
2.56
81.45

.85
1.68
8.45
1.15
3.73
87.95

.81
.88
8.74
1.37
3.69
80.61

.85
.69
9.1
1.32
3.42
82.37

61,661.

.55
21.83
33.98
30.97
6.37
4.22
-

.4
17.46
25.68
23.74
6.96
5.21
-

14.59
0.0
12.74
46.78

11.87
0.0
8.7
52.73

.32
5.47
7.44
6.81
1.83
3.36
4.11
4.84
.46
2.75
54.19

.31
15.1
19.88
17.91
3.14
3.42
13.78
10.74
.21
6.27
57.74

.31
13.07
17.12
15.83
2.85
3.32
16.09
9.46
.13
7.12
63.64

0.0
-

0.0

0.0
0.0

Bela Automotives Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
203,760.
351,968.
203,760.
6,788.
0.0

112,011.
1,975.
23,823.
12,967.
0.0
73,246.
89,441.
37,545.
51,896.
45,180.

0.0
45,180.
181,150.
58,000.
58,000.
0.0
123,150.

94,356.
94,356.
0.0
83,793.

10,563.
8,133.
8,133.
1,510.
5,307.
381.
0.0
0.0

226,330.
0.0
4,926.
37,545.
.17
1.6
13.74
.3
1.25
88.81

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.74
1.7
2.96
2.36
3.96
5.62
0.0
.85
31.23
375

Financial Statement Analysis of Non Financial Sector

2007
200,684.
354,207.
200,684.
6,554.
0.0
113,338.
1,280.
26,469.
11,978.
0.0
73,611.
87,077.
37,922.
49,155.
44,354.
0.0
44,354.
182,591.
58,000.
58,000.
0.0
124,591.
-

2008
201,302.
361,356.
201,302.
6,531.
0.0
121,825.
1,124.
30,300.
13,825.
0.0
76,576.
88,791.
42,060.
46,731.
47,463.
0.0
47,463.
186,873.
58,000.
58,000.
0.0
128,873.
-

64,601.
64,601.
0.0
55,724.
-

84,545.
84,545.
0.0 71,342.
-

8,877.
6,829.
-

13,203.
6,798.
-

6,829.
-

6,798.
-

1,750.

2,004.
-

1,714.
273.
0.0
0.0
-

2009
201,715.
19,776.
345,214.
179,551.
6,396.
2,388.
130,152.
557.
49,989.
10,182.
69,424.
99,109.
34,506.
64,603.
45,330.
41,997.
3,333.
187,428.
58,000.
58,000.
-2273
14,700.
-16973
131,701.

4,639.
357.
0.0 0.0
-

2011

(Thousand Rupees)
2010
2011
196,295.
190,097.
20,347.
20,484.
345,234.
343,790.
173,504.
167,226.
6,068.
5,720.
2,444.
2,387.
133,844.
141,800.
1,319.
3,826.
51,720.
56,140.
11,140.
11,426.
69,665.
70,408.
98,041.
99,084.
34,506.
34,758.
63,535.
64,326.
43,777.
43,981.
41,997.
41,997.
1,780.
1,984.
0.0
188,321.
188,832.
58,000.
58,000.
58,000.
58,000.
0.0
2,452.
6,681.
14,700.
14,700.
-12248
-8019
127,869.
124,151.

41,664.
41,664.

57,220.
57,220.

52,818.
52,818.

32,598.
23,649.
8,949.
9,066.
7,681.
2,490.
5,191.
5,695.
1,331.
1,012.
554.
263.

48,524.
25,376.
23,148.
8,696.
7,119.
2,572.
4,547.
4,975.
399.
303.
1,178.
286.

45,097.
22,749.
22,348.
7,721.
6,888.
2,815.
4,073.
4,956.
125.
61.
1,040.
528.

0.0
6,907.

0.0
3,017.

0.0
2,150.

226,945.
0.0
1,441.
37,922.

234,336.
0.0
4,282.
42,060.

232,758.
41,997.
291.
76,503.

232,098.
41,997.
892.
76,503.

232,813.
41,997.
512.
76,755.

.15
2.71
18.54
.21
1.3
86.26

.17
2.37
16.35
.26
1.37
84.38

.11
3.19
24.44
.13
1.31
78.24

.13
.7
19.47
.17
1.37
84.8

.15
.24
21.63
.16
1.43
85.38

.72
.54
.94
.76
-

.73
1.46
2.51
2.01
-

2.44
-

2.79

2.65
0.0
.25
31.48

.77
.17
.3
.24

5.49
0.0
.74
32.22

.75
.36
.63
.51

.76
.31
.55
.45

1.11
4.89
2.06
.02
.15
32.47

.94
18.05
1.97
.02
.09
32.56

.83
1.55
1.33
.05
.05
32.32

Bolan Castings Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
203,383.
484,769.
203,383.
11,895.
0.0

354,534.
37,170.
125,315.
71,251.
16,747.
104,051.
98,615.
43,464.
55,151.
121,190.

0.0
121,190.
338,112.
55,253.
55,253.
0.0
282,859.

977,083.
977,083.
0.0
874,842.

102,241.
22,985.
22,985.
8,724.
72,910.
25,482.
0.0
0.0

459,302.
0.0
47,428.
43,464.
1.27
.89
7.29
1.75
3.6
89.54

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.65
16.37
24.44
20.31
7.8
7.46
0.0
8.58
61.19
376

Financial Statement Analysis of Non Financial Sector

2007
255,249.
551,571.
255,249.
17,671.
0.0
460,390.
18,231.
206,713.
101,690.
18,975.
114,781.
306,156.
208,242.
97,914.
84,128.
0.0
84,128.
325,355.
55,253.
55,253.
0.0
270,102.
-

(Thousand Rupees)
2008
2009
2010
2011
252,155.
255,171.
249,506.
249,607.
1,918.
1,918.
2,661.
575,063.
585,971.
604,773.
627,043.
252,155.
239,532.
233,821.
232,528.
27,398.
27,682.
26,890.
27,254.
0.0
796.
467.
141.
8,050.
8,337.
9,171.
4,875.
4,963.
5,106.
554,791.
639,502.
793,498.
739,686.
6,091.
15,705.
11,181.
23,837.
157,689.
149,532.
193,731.
289,615.
193,471.
278,732.
409,893.
208,352.
0.0
0.0
0.0
197,540.
195,533.
178,693.
217,882.
421,675.
444,777.
505,603.
402,024.
310,362.
289,830.
221,867.
147,361.
111,313.
154,947.
283,736.
254,663.
50,332.
65,532.
70,592.
65,124.
14,082.
14,082.
0.0
0.0
0.0
0.0
11,082.
19,366.
50,332.
51,450.
45,428.
45,758.
334,939.
384,364.
466,809.
522,145.
60,778.
79,012.
94,814.
104,296.
60,778.
79,012.
94,814.
104,296.
0.0
0.0
0.0
274,161.
305,352.
371,995.
417,849.
0.0
0.0
305,352.
371,995.
417,849.
0.0
-

1,079,737.
1,079,737.
0.0
991,137.
-

1,310,852.
1,307,275.
3,577.
1,196,909.
-

88,600.
27,298.
-

113,943.
52,452.
-

27,298.
-

52,452.
-

24,429.

32,903.
-

39,870.
4,384.
0.0
5,525.
-

2011

34,501.
5,653.
0.0
6,078.
-

1,604,626.
1,604,626.
0.0
1,440,373.
926,421.
513,952.
164,253.
71,879.
33,778.
38,101.
93,226.
58,259.
52,442.
53,150.
19,124.
0.0
11,603.
23,627.

1,707,846.
1,705,037.
2,809.
1,468,284.
92,644.
1,375,640.
239,562.
87,377.
42,036.
45,341.
126,892.
44,170.
40,905.
125,749.
43,591.
23,704.
9,481.
83,359.

1,946,677.
1,946,677.

0.0
0.0
-

1,711,481.
132,117.
1,579,364.
235,196.
90,994.
44,580.
46,414.
128,142.
33,822.
31,875.
123,799.
45,593.
15,644.
0.0
186,039.

409,483.
0.0
35,486.
208,242.

385,271.
0.0
28,848.
310,362.

449,896.
14,082.
34,026.
303,912.

537,401.
14,082.
58,455.
235,949.

587,269.

.45
2.26
9.42
1.51
1.5
91.79

.47
2.51
14.76
1.62
1.32
91.31

.66
3.63
17.37
1.79
1.44
89.76

.83
2.59
24.
1.64
1.57
85.97

.58
1.74
10.7
1.97
1.84
87.92

0.0
62,562.
147,361.

1.2
6.26
12.02
9.18
-

1.41
4.53
10.45
8.68
-

5.22
-

8.31

3.69
0.0
6.42
58.88

1.33
6.25
14.78
12.73

2.63
0.0
4.75
55.11

10.73
2.01
3.31
.05
4.31
48.65

1.23
12.98
29.55
25.47
3.47
8.82
4.07
7.36
.14
8.67
49.23

.89
12.18
25.04
22.02
5.
6.72
4.88
6.36
.4
7.5
50.06

Dewan Automotive Engineering Ltd. (Allied Motors Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
132,872.
188,377.
118,249.
12,566.
14,623.
334,957.
31,038.
212,665.
2,450.
0.0
88,804.
615,403.
0.0
615,403.
0.0
0.0
0.0
-147574
90,000.
90,000.
0.0
-237574
131,086.
131,086.
0.0
184,017.
-52931
35,162.
35,162.
8,443.
-96035
656.
0.0
0.0
-147574
0.0
-96691
0.0
.05
6.44
1.87
.28
.54
140.38

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
377

-4.17
-27.62
97.08
97.08
.62
-73.26
0.0
-10.74
-16.4

2011

Financial Statement Analysis of Non Financial Sector

2007
672,613.
870,005.
634,088.
62,982.
38,525.
1,278,220.
47,694.
414,767.
22,107.
40,000.
753,652.
2,183,202.
26,808.
2,156,394.
43,192.
0.0
43,192.
-275561
214,000.
214,000.
0.0
-489561
682,705.
682,705.
0.0
746,581.

-63876
143,894.
143,894.
133,889.
-336518
3,242.
0.0
0.0
-

0.0
-339760
26,808.
.05
19.61
3.24
.35
.59
109.36

2009
675,579.
679.
713,825.
603,917.
66,409.
27,886.
43,097.
516,786.
5,982.
242,616.
24,569.
0.0
243,619.
1,464,747.
49,310.
1,415,437.
782,840.
0.0
11,025.
771,815.
-1055222
214,000.
214,000.
0.0
-1424211
-1424211
154,989.

628,699.
628,699.
0.0 682,189.
-

-232369

2008
1,012,468.
1,046,491.
975,287.
61,375.
37,181.
985,513.
41,723.
283,571.
12,922.
0.0
647,297.
2,442,094.
326,722.
2,115,372.
21,274.
0.0
21,274.
-465387
214,000.
214,000.
0.0
-679387
-

(Thousand Rupees)
2010
2011
620,566.
511,645.
679.
679.
711,680.
654,187.
558,392.
460,549.
44,875.
40,350.
18,591.
9,296.
42,904.
41,121.
402,374.
354,819.
1,154.
724.
182,426.
156,429.
22,459.
12,824.
0.0
0.0
196,335.
184,842.
1,540,593.
1,650,965.
1,540,593.
1,650,965.
779,362.
779,708.
722,552.
722,552.
10,799.
14,158.
46,011.
42,998.
-1297015
-1564209
214,000.
214,000.
214,000.
214,000.
0.0
0.0
-1659962
-1863564
-1659962
-1863564
148,947.
85,355.

283,972.
283,972.

121,422.
121,422.
-

12,465.
12,465.
-

-53490
128,568.
128,568.
120,132.
-306021
2,807.
0.0
0.0
-

294,145.
151,839.
142,306.
-10173
433,993.
35,831.
398,162.
79,012.
149,342.
149,001.
-593326
0.0
59,020.

162,765.
71,096.
66,911.
13,227.
95,854.
57,869.
-41343
-58631
363,893.
38,000.
16,195.
3,030.
347,698.
34,970.
44,376.
18,521.
112,644.
114,460.
112,455.
114,271.
-517575
-211085
3,013.
0.0
0.0
-14300
28,875.

-444113

-272382

-517653

-784501

0.0

0.0

0.0

0.0
-308828
-593326
-517575
-214098
326,722.
49,310.
0.0
0.0
.02
19.11
2.06
.31
.4
108.51

.02
52.59
8.65
.24
.35
103.58

.02
92.77
18.5
.12
.26
134.05

.01
918.25
102.88
.01
.21
570.37

-8.08
-27.83
159.06
177.14

-5.29
-15.5
82.6
90.47
-

1.65

2.22

-49.29
0.0
-15.88
-12.88

-2.13
-37.2
78.04
165.62

-48.68
0.0
-14.43
-21.75

-1.79
-46.73
44.01
131.03
-

1.17
-2.98
-208.94
.03
-27.73
-49.31

-1.55
-22.34
14.75
32.42
-

.67
-3.6
-426.26
-.01
-24.19
-60.61

.08
-.85
-1,693.42
.01
-10.
-73.09

Dewan Farooque Motors Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,377,137.
3,184,416.
2,368,459.
172,687.
8,678.

5,336,103.
148,234.
2,519,154.
745,843.
705,474.
1,217,398.
5,356,110.
2,984,392.
2,371,718.
706,421.

0.0
706,421.
1,650,709.
770,733.
770,733.
0.0
879,976.

10,636,130.
10,636,130.
0.0
9,535,648.

1,100,482.
492,901.
492,901.
291,557.
317,017.
117,367.
115,610.
0.0

2,357,130.
0.0
84,040.
2,984,392.
.3
2.74
7.01
1.38
1.
89.65

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.67
4.52
21.42
14.98
1.73
4.22
2.98
0.0
2.59
21.42
378

Financial Statement Analysis of Non Financial Sector

2007
2,356,285.
3,357,407.
2,350,762.
194,551.
5,523.
4,536,361.
87,926.
1,567,646.
943,005.
774,682.
1,163,102.
4,835,918.
2,209,552.
2,626,366.
367,518.
0.0
367,518.
1,689,210.
770,733.
770,733.
0.0
918,477.
-

2008
2,178,035.
3,378,245.
2,175,667.
200,350.
2,368.
3,676,889.
90,574.
1,234,219.
294,772.
0.0
2,057,324.
4,091,105.
2,290,752.
1,800,353.
701,378.
0.0
701,378.
1,062,441.
770,733.
770,733.
0.0
291,708.
-

2009
2,031,497.
15,000.
1,377,935.
40,343.
598,219.
2,465,420.
107,746.
746,766.
29,538.
1,581,370.
4,270,849.
1,929,585.
2,341,264.
697,427.
666,853.
0.0
5,071.
25,503.
-471359
889,733.
889,733.
0.0
-1199235
0.0
-1199235
-161857

(Thousand Rupees)
2010
2011
1,869,073.
1,723,752.
15,000. 3,351,929.
3,365,631.
1,813,812.
1,683,939.
40,261.
39,813.
0.0
0.0
2,335,477.
2,555,003.
124,450.
146,143.
571,665.
710,485.
29,700.
23,021.
75,906.
71,887.
1,533,756.
1,603,467.
4,485,974.
5,786,914.
1,931,596.
1,931,596.
2,554,378.
3,855,318.
465,582.
260,980.
437,235.
238,728.
4,996.
4,552.
23,351.
17,700.
-747006
-1769139
889,733.
1,087,353.
889,733.
1,087,353.
0.0
0.0
-1636739
-2856492
0.0
0.0
-1636739
-2856492
-

8,576,807.
8,576,807.
0.0
7,710,251.

6,327,553.
6,327,553.
0.0
6,174,641.

1,557,016.
1,557,016.
0.0
2,382,144.
1,826,496.
555,648.
-825128
591,065.
196,268.
394,797.
97,335.
261,018.
90,288.
-1510059
-120025
0.0
-227747

1,025,341.
1,025,341.
0.0
1,173,764.
838,852.
334,912.
-148423
423,228.
81,704.
341,524.
188,540.
8,920.
-432203
5,301.
0.0
-19931

866,556.
410,854.

152,912.
432,435.
-

410,854.
-

432,435.
-

381,964.
99,354.
36,177.
0.0
0.0
-

2011

316,417.
-578951
27,289.
0.0
0.0
-

176,383.
176,383.
0.0
478,322.
102,911.
375,411.
-301939
188,703.
72,572.
116,131.
188,801.
740,261.
-1228916
1,873.
0.0
-207459

-1508159
2,056,728.
1,763,819.
226,068. -281424
0.0
0.0
666,853.
437,235.
238,728.
-437504
-1230789
63,177. -606240
2,209,552.
2,290,752.
2,596,438.
2,368,831.
2,170,324.
.37
4.45
10.99
1.24
.94
89.9

.09
5.
4.66
1.08
.9
97.58

.03
16.76
1.9
.35
.58
152.99

.05
.87
2.9
.24
.52
114.48

.04
419.69
13.05
.04
.44
271.18

3.08
1.36
5.95
4.5
-

4.51
-9.08
-42.08
-30.31
-

5.47
-

-10.54
-29.17
-510.95
-151.77
-

5.13
-

1.16
0.0
.82
21.92

-9.15
0.0
-7.87 13.78

2.09
-15.72 -96.98
-.05
-5.3

-6.63
-9.93
70.95
1,561.54

-3.42
-28.97
97.68
137.34
-

1.79

.25
-

-42.15
0.0
-4.92
-8.4

-696.73
-.03
-11.32
-16.27

Exide Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
506,150.
637,941.
506,150.
29,247.
0.0

646,959.
64,679.
410,508.
104,712.
25,531.
41,529.
402,081.
201,110.
200,971.
80,000.

0.0
80,000.
671,028.
54,057.
54,057.
0.0
616,971.

1,853,556.
1,853,556.
0.0
1,591,319.

262,237.
136,918.
136,918.
31,692.
97,334.
41,447.
8,109.
0.0

751,028.
0.0
47,778.
201,110.
.48
1.71
5.65
1.61
1.61
85.85

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.72
9.65
18.14
15.99
6.89
4.52
5.25
0.0
10.34
124.13
379

Financial Statement Analysis of Non Financial Sector

2007
502,357.
667,294.
502,357.
35,432.
0.0
800,805.
60,918.
556,077.
87,462.
32,531.
63,817.
494,026.
310,470.
183,556.
60,000.
0.0
60,000.
749,136.
54,057.
54,057.
0.0
695,079.
-

(Thousand Rupees)
2008
2009
2010
2011
599,749.
690,355.
796,908.
1,051,084.
41,140.
37,448.
71,637.
917,768.
1,017,369.
1,183,411.
1,427,053.
599,749.
630,571.
739,094.
956,273.
40,208.
71,996.
62,777.
76,738.
0.0 224.
224.
224.
18,420.
20,142.
22,950.
1,439,948.
1,346,232.
2,107,704.
2,959,417.
121,025.
234,679.
286,206.
567,426.
1,014,506.
859,857.
1,457,671.
1,856,140.
170,168.
162,668.
203,098.
317,367.
224. 134,025.
89,028.
160,729.
218,484.
1,060,719.
1,011,724.
1,710,480.
2,366,350.
545,194.
494,734.
986,866.
1,139,272.
515,525.
516,990.
723,614.
1,227,078.
100,000.
43,899.
44,131.
45,747.
0.0 0.0 0.0
0.0 0.0 100,000.
43,899.
44,131.
45,747.
878,978.
980,964.
1,150,001.
1,598,404.
54,057.
54,057.
56,499.
56,499.
54,057.
54,057.
56,499.
56,499.
0.0
0.0
0.0
0.0
824,921.
671,907.
844,000.
1,091,989.
259.
259.
259.
488,991.
843,741.
1,091,730.
255,000.
249,502.
449,916.

2,807,802.
2,807,802.
0.0
2,442,169.
-

365,633.
190,161.

190,161.

41,297.

138,874.
52,527.
13,514.
0.0

2011

3,022,276.
5,630,385.
6,189,135.
3,022,276.
5,630,385.
6,189,135.
0.0 0.0
2,661,011.
5,009,813.
5,413,928.
4,397,285.
4,869,126.
612,528.
544,802.
361,265.
620,572.
775,207.
182,586.
360,041.
397,979.
237,235.
296,100.
182,586.
122,806.
101,879.
198,431.
214,294.
49,099.
82,521.
78,948.
53,037.
76,640.
143,154.
182,003.
303,554.
41,765.
63,797.
106,267.
16,217.
27,029.
33,899.
0.0
0.0
0.0
383,592. -272379

7,711,452.
7,711,452.
0.0
6,643,630.
6,301,473.
342,157.
1,067,822.
514,201.
399,834.
114,367.
242,500.
128,489.
114,814.
429,726.
153,336.
33,899.
14,125.
280,945.

809,136.
0.0
72,833.
310,470.

978,978.
0.0
85,172.
545,194.

1,024,863.
0.0
91,178.
494,734.

1,194,132.
0.0
163,388.
986,866.

1,644,151.
0.0
242,491.
1,139,272.

.37
1.47
3.11
2.15
1.62
86.98

.27
1.62
5.63
1.48
1.36
88.05

.39
1.47
2.89
2.76
1.33
88.98

.29
1.28
3.28
2.13
1.23
87.47

.37
1.67
4.12
1.92
1.25
86.15

.74
11.31
19.56
17.8
6.39
5.05
-

1.32
8.56
17.59
16.01
6.25
2.98
-

4.95
0.0
15.97
138.58

4.74
0.0
18.76
162.6

1.08
8.93
19.57
18.17
4.37
6.55
4.43
3.23
.36
21.87
181.47

1.53
12.29
28.49
27.36
5.82
4.25
4.96
4.9
-.16
34.92
203.54

1.51
12.43
31.27
30.28
8.15
4.15
4.74
5.57
.12
48.92
282.91

General Tyre & Rubber Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,456,782.
2,617,104.
1,456,300.
107,319.
482.

1,936,617.
78,975.
1,012,679.
409,711.
0.0
435,252.
1,479,734.
631,543.
848,191.
466,846.

0.0
466,846.
1,446,819.
597,717.
597,717.
0.0
849,102.

4,323,108.
4,323,108.
0.0
3,801,638.

521,470.
253,547.
253,547.
86,967.
210,083.
57,513.
104,600.
0.0

1,913,665.
0.0
47,970.
631,543.
.33
2.01
9.48
1.27
1.31
87.94

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.35
6.89
14.75
11.34
1.46
4.27
4.86
0.0
2.55
24.21
380

Financial Statement Analysis of Non Financial Sector

2007
1,622,511.
2,871,897.
1,622,245.
116,509.
266.
1,893,824.
78,397.
907,208.
467,470.
0.0
440,749.
1,778,636.
889,136.
889,500.
499,026.
0.0
499,026.
1,238,673.
597,713.
597,713.
0.0
640,960.
-

2008
1,707,921.
3,104,101.
1,707,791.
155,226.
130.
2,301,295.
100,579.
1,051,835.
639,921.
0.0
508,960.
2,434,449.
1,472,952.
961,497.
352,599.
0.0
352,599.
1,222,168.
597,713.
597,713.
0.0
624,455.
-

4,605,685.
4,605,685.
0.0
4,137,767.
-

467,918.
267,708.

267,708.

125,378.

105,925.
30,326.
119,543.
0.0

2009
1,903,739.
226,566.
3,170,187.
1,667,662.
126,555.
50.
9,461.
2,062,500.
146,292.
725,690.
680,286.
0.0
510,232.
2,383,332.
1,489,427.
893,905.
470,563.
321,250.
0.0
130,595.
18,718.
1,112,344.
597,713.
597,713.
0.0
514,631.
514,631.
-

(Thousand Rupees)
2010
2011
1,890,012.
1,834,726.
75,767.
27,832.
3,444,393.
3,577,639.
1,801,390.
1,792,831.
144,210.
149,147.
21.
291.
836.
12,834.
12,936.
2,923,361.
3,930,458.
99,710.
122,406.
1,372,150.
2,280,412.
856,577.
848,001.
0.0
0.0
594,924.
679,639.
2,996,257.
3,821,318.
1,633,760.
2,231,801.
1,362,497.
1,589,517.
486,446.
474,139.
173,286.
86,643.
141,827.
158,026.
171,333.
229,470.
1,330,670.
1,469,727.
597,713.
597,713.
597,713.
597,713.
0.0
0.0
732,957.
872,014.
732,957.
872,014.
-

5,422,320.
5,351,341.
6,355,293.
7,477,695.
5,422,320.
5,351,341.
6,355,293.
7,477,695.
0.0 4,912,001.
4,810,589.
5,389,956.
6,479,592.
3,467,591.
3,826,115.
5,186,319.
1,342,998.
1,563,841.
1,293,273.
510,319.
540,752.
965,337.
998,103.
381,692.
426,498.
345,850.
350,080.
173,277.
206,641.
198,931.
381,692.
253,221.
139,209.
151,149.
495,170.
632,871.
779,709.
183,130.
300,830.
259,916.
318,633.
295,995.
256,710.
311,337.
7,340. -142270
409,286.
395,358.
-32446
23,404.
37,265.
79,091.
0.0 119,543.
149,428.
0.0
0.0
0.0
0.0
-158582
335,097. -135750

1,737,699.
1,574,767.
1,582,907.
0.0
0.0
321,250.
-43944
-16064
889,136.
1,472,952.
1,810,677.
.31
2.72
10.15
1.31
1.06
89.84

2011

.3
3.38
11.8
1.35
.95
90.59

.35
5.62
12.71
1.35
.87
89.9

1,817,116.
173,286.
252,478.
1,807,046.

1,943,866.
86,643.
166,839.
2,318,444.

.32
4.09
13.48
1.32
.98
84.81

.25
4.26
11.34
1.3
1.03
86.65

1.84
3.07
7.89
5.8
.63 5.08
2.3
0.0
1.26
20.72

2.28
.2
.6
.44

2.57
-3.57
-12.19
-9.01
-

5.16
.14
0.0
-.27 20.45

7.37
.52
-2.66
.12
18.61

2.62
9.32
33.51
24.08
3.11
4.63
2.59
6.44
-.04
6.22
22.26

2.92
7.47
28.24
21.02
2.12
3.28
2.27
5.29
-.04
5.29
24.59

Ghandhara Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,033,099.
1,114,955.
1,033,099.
15,750.
0.0

1,189,838.
262,436.
695,713.
4,389.
93,091.
134,209.
1,092,938.
318,934.
774,004.
0.0

0.0
0.0
1,129,999.
65,553.
65,553.
0.0
1,064,446.

1,714,721.
1,714,721.
0.0
1,489,018.

225,703.
52,689.
52,689.
18,556.
558,225.
34,342.
19,666.
0.0

1,129,999.
0.0
504,217.
318,934.
.33
1.08
.26
.77
1.09
86.84

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.97
37.14
123.39
123.39
26.64
2.46
32.55
0.0
79.92
172.38
381

2011

Financial Statement Analysis of Non Financial Sector

2007
1,120,100.
1,238,463.
1,120,100.
32,082.
0.0
1,166,258.
128,467.
649,269.
83,457.
1,400.
303,665.
994,851.
88,638.
906,213.
15,226.
0.0
15,226.
1,276,281.
213,045.
213,045.
0.0
1,063,236.
-

2008
1,028,798.
1,159,504.
1,028,798.
5,205.
0.0
1,113,413.
22,939.
468,052.
56,903.
91,173.
474,346.
839,021.
98,328.
740,693.
8,165.
0.0
8,165.
1,295,025.
213,045.
213,045.
0.0
1,081,980.
-

1,921,863.
1,921,863.
0.0
1,616,665.
-

305,198.
95,616.

95,616.

26,678.

201,243.
78,552.
0.0
0.0

1,291,507.
0.0
122,691.
88,638.
.21
1.39
4.34
.84
1.17
84.12

2009
1,115,744.
450.
1,163,663.
1,018,536.
15,319.
1,400.
95,358.
807,697.
21,510.
373,852.
103,203.
0.0
309,132.
747,543.
327,552.
419,991.
18,971.
0.0
3,518.
15,453.
1,156,927.
213,044.
213,044.
0.0
-129314
-129314
1,073,197.

(Thousand Rupees)
2010
2011
1,575,202.
1,564,924.
1,601,688.
1,614,090.
1,476,350.
1,465,156.
17,993.
27,207.
442.
1,251.
1,400.
1,400.
97,010.
97,117.
1,256,795.
1,796,949.
149,688.
9,523.
711,728.
691,703.
84,771.
173,375.
0.0
0.0
310,608.
922,348.
1,078,177.
1,623,031.
144,317.
144,991.
933,860.
1,478,040.
69,604.
46,881.
6,778.
11,529.
62,826.
35,352.
1,684,216.
1,691,961.
213,044.
213,044.
213,044.
213,044.
0.0
0.0
9,598.
22,906.
40,800.
-31202
22,906.
1,461,574.
1,456,011.

1,870,002.
1,313,808.
1,870,002.
1,313,808.
0.0 1,726,975.
1,184,506.
1,081,976.
102,530.
143,027.
129,302.
96,969.
200,899.
48,596.
96,969.
152,303.
58,224.
28,060.
83,506.
81,048.
29,520. -140427
13,056.
2,942.
0.0 0.0
0.0
224,484.

2,086,520.
2,064,367.
22,153.
1,789,728.
1,733,298.
56,430.
296,792.
124,225.
71,469.
52,756.
69,831.
57,779.
52,774.
117,928.
17,635.
0.0
0.0
319,801.

1,303,190.
1,175,898.
0.0
0.0
16,464. -143369
98,328.
327,552.

1,753,820.
1,738,842.
0.0
0.0
100,293. -9788
144,317.
144,991.

.2
1.5
3.04
.87
1.33
92.35

.17
6.36
7.86
.68
1.08
90.16

.22
2.77
4.06
.74
1.17
85.78

1,631,208.
1,526,397.
104,811.
1,457,028.
1,365,208.
91,820.
174,180.
112,413.
56,844.
55,569.
89,773.
59,201.
46,099.
7,847.
17,635.
0.0
0.0
110,497.

.11
3.63
10.63
.49
1.11
89.32

.79
8.93
16.73
16.62
-

.65
1.33
2.3
2.28
-

2.96
-

4.

10.47
0.0
5.76
59.91

.66
-6.91
-11.45
-11.33

1.58
0.0
.77
60.79

.68
4.96
8.3
8.05

.99
.25
.46
.45

2.93
3.23
5.65
.28
4.71
79.05

2.36
1.17
.48
.07
-.46
79.42

3.51
-.73
-10.69
.29
-6.73
54.3

Ghandhara Nissan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
979,152.
1,263,729.
978,526.
99,366.
626.

1,881,818.
36,567.
1,346,001.
342,112.
0.0
157,138.
1,672,856.
729,666.
943,190.
329,747.

0.0
329,747.
858,367.
450,025.
450,025.
0.0
408,342.

5,185,301.
5,185,301.
0.0
4,565,059.

620,242.
148,699.
148,699.
101,077.
390,890.
134,005.
56,253.
0.0

1,188,114.
0.0
200,632.
729,666.
.23
1.95
6.6
1.81
1.12
88.04

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.33
14.16
47.44
31.27
4.57
3.85
7.54
0.0
5.71
19.07
382

2011

Financial Statement Analysis of Non Financial Sector

2007
952,316.
1,330,546.
951,897.
96,277.
419.
1,446,303.
49,009.
772,798.
0.0
23,239.
601,257.
1,260,472.
418,409.
842,063.
117,831.
0.0
117,831.
1,020,316.
450,025.
450,025.
0.0
570,291.
-

2008
922,501.
1,393,641.
922,220.
95,239.
281.
2,178,816.
206,977.
789,663.
522,550.
307,510.
352,116.
1,635,241.
148,407.
1,486,834.
0.0
0.0
0.0
1,466,076.
450,025.
450,025.
0.0
1,016,051.
-

3,019,079.
3,019,079.
0.0
2,522,391.
-

496,688.
162,336.

162,336.

113,903.

285,918.
105,489.
0.0
0.0

1,138,147.
0.0
180,429.
418,409.
.06
3.77
0.0
1.26
1.15
83.55

2009
1,819,674.
8,476.
1,393,655.
89,441.
188.
278,855.
1,532,155.
1,572,422.
36,293.
1,053,749.
283,402.
0.0
198,978.
1,480,268.
618,819.
861,449.
209,202.
0.0
37,983.
171,219.
1,702,626.
450,025.
450,025.
0.0
248,225.
248,225.
1,004,376.

3,924,624.
2,053,959.
3,924,624.
2,053,959.
0.0 3,402,786.
2,048,631.
1,666,285.
382,346.
521,838.
5,328.
177,991.
180,609.
35,928.
177,991.
144,681.
177,488.
135,478.
344,953.
158,485.
279,892. -484565
101,650.
172,392.
0.0 0.0
0.0
-1036613
1,466,076.
1,911,828.
0.0
0.0
178,242. -656957
148,407.
618,819.
.63
3.45
13.31
1.27
1.33
86.7

.22
16.79
13.8
.61
1.06
99.74

(Thousand Rupees)
2010
2011
1,813,379.
1,862,345.
1,647,131.
1,653,172.
1,496,234.
1,441,345.
67,541.
66,873.
375.
281.
305,064.
408,628.
11,706.
12,091.
1,547,103.
1,233,688.
72,570.
31,004.
1,063,893.
530,701.
225,971.
535,878.
0.0
0.0
184,669.
136,105.
1,421,358.
1,187,659.
665,468.
467,416.
755,890.
720,243.
325,391.
192,550.
136,215.
58,333.
43,999.
51,306.
145,177.
82,911.
1,613,733.
1,715,824.
450,025.
450,025.
450,025.
450,025.
0.0
0.0
183,176.
212,767.
40,000.
40,000.
143,176.
172,767.
980,532.
1,053,032.
2,402,617.
2,402,617.

2,650,068.
2,650,068.

2,283,238.
2,397,795.
1,895,009.
1,943,500.
388,229.
454,295.
119,379.
252,273.
109,903.
133,727.
29,807.
30,865.
80,096.
102,862.
166,391.
179,187.
147,328.
175,977.
131,558.
170,553.
-123607
-15493
34,714.
22,590.
0.0
0.0
57,514.
178,369.
1,939,124.
1,908,374.
136,215.
58,333.
-158321
-38083
801,683.
525,749.
.21
6.13
9.41
.71
1.09
95.03

.48
6.64
20.22
.86
1.04
90.48

1.35
10.87
30.44
24.58
-

1.12
10.18
22.51
21.5
-

3.91
-

4.97

9.47
0.0
4.01
22.67

.99
-14.92
-30.58
-28.69

7.13
0.0
3.96
32.58

1.08
-3.66
-7.45
-6.42

.8
-.48
-.93
-.81

2.26
.06
-5.14
.03
-3.52
35.86

4.99
.91
-.58
.13
-.85
38.13

1.95
-2.06
-23.59
-.61
-14.6
37.83

Ghani Automobiles Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
32,670.
42,851.
32,670.
992.
0.0

56,978.
8,020.
7,516.
0.0
0.0
41,442.
21,622.
0.0
21,622.
0.0

0.0
0.0
68,026.
100,000.
100,000.
0.0
-31974

51,011.
51,011.
0.0
50,497.

514.
3,721.
3,721.
0.0
1,221.
421.
0.0
0.0

68,026.
0.0
800.
0.0
.37
0.0
0.0
.57
2.64
98.99

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.32
1.53
1.8
1.8
6.79
2.39
0.0
.08
6.8
383

Financial Statement Analysis of Non Financial Sector

2007

2008
34,947.

55,119.
-

47,291.
34,947.
2,345.
0.0
-

109,551.
22,906.
31,265.
34,861.
0.0
20,519.
15,898.
0.0
15,898.
0.0

2009
54,942.

71,286. 55,119.
3,822.
0.0 -

34,256.
286,847.
8,603.
68,426.
146,080.
0.0
63,738.
243,419.
75,030.
168,389.
10,800.
10,800.

328,457.
6,096.
80,192.
143,034.
0.0
99,135.
239,442.
155,962.
83,480.
14,400.
-

0.0

20,686.
4,519.

0.0

0.0
0.0

0.0
128,600.
200,000.
200,000.
0.0
-71400
-

14,400. 129,734.
87,570.
200,000.
200,000.
200,000.
200,000.
0.0
0.0
-70266
0.0
0.0
-112430
-

149,521.
149,521.
0.0
137,352.
-

283,310.
283,310.
0.0 249,431.
-

12,169.
46,640.
-

33,879.
24,987.
-

46,640.
-

-38776

24,987.
-

4,368.

6,531.
2,361.
1,226.
0.0
0.0

650.
0.0
0.0
-

128,600.
0.0
-39426
0.0
3.63
2.92
23.32
1.03
6.89
91.86

2011

(Thousand Rupees)
2010
2011
68,418.
73,915.
75,198.
75,384.
50,434.
46,949.
4,078.
3,671.
17,984.
26,966.
363,800.
434,212.
26,192.
27,951.
85,042.
121,505.
177,022.
201,017.
0.0
0.0
75,544.
83,739.
313,615.
390,032.
85,394.
105,237.
228,221.
284,795.
7,200.
3,600.
7,200.
3,600.
111,403.
114,495.
200,000.
200,000.
200,000.
200,000.
0.0
0.0
0.0
0.0
0.0
0.0
-88597
-85505

230,005.
230,005.

381,699.
381,699.

429,162.
429,162.

226,355.
352,886.
398,888.
187,635.
343,744.
383,922.
38,720.
9,142.
14,966.
3,650.
28,813.
30,274.
29,093.
28,783.
33,771.
18,013.
15,197.
17,064.
11,080.
13,586.
16,707.
7,451.
25,807.
32,698.
17,863.
14,644.
15,077.
17,487.
14,120.
14,470.
-42166
8,516. -1574
15,317.
4,666.
0.0
0.0
0.0
-15894
55,863. -31022

144,134.
98,370.
118,603.
118,095.
0.0
10,800.
7,200.
3,600.
-6801
-6240
1,135. -42166
155,962.
85,830.
92,594.
108,837.
.62
2.31
50.49
.74
1.37
88.04

.64
7.77
63.51
.67
1.18
98.41

.65
3.84
46.38
.88
1.16
92.45

.59
3.51
46.84
.84
1.11
92.95

.12
-33.12
-39.44
-39.44
-

1.96
.89
1.83
1.73
-

4.78
-

3.53

-25.93
0.0
-1.97
6.43

2.9
-11.63
-38.81
-34.78

.83
0.0
.06
6.49

2.88
2.2
8.56
7.85

3.44
-.33
-1.39
-1.33

4.49
1.6
2.23
-.1
-.34
5.57

3.53
.89
-.37
-.04
-.31
5.72

3.36
-1.41
-18.33
.22
-2.11
4.38

Hinopak Motors Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
865,244.
1,233,917.
864,530.
76,569.
714.

3,277,376.
118,297.
2,381,286.
503,226.
274,567.
2,423,535.
266,118.
2,157,417.
5,691.

5,691.
1,713,394.
124,006.
124,006.
1,589,388.

7,200,425.
7,200,425.
6,365,845.

834,580.
347,021.
347,021.
48,416.
511,763.
194,461.
130,206.

1,719,085.
187,096.
266,118.
.26
.67
6.99
1.74
1.35
88.41

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.42
14.
32.12
31.97
2.44
3.02
7.11
0.0
25.59
138.17
384

Financial Statement Analysis of Non Financial Sector

2007
890,313.
1,321,167.
887,117.
81,459.
3,196.
4,021,218.
260,915.
2,533,159.
816,386.
0.0
0.0
410,758.
2,738,296.
4,299.
2,733,997.
0.0
0.0
0.0
0.0
2,173,235.
124,006.
124,006.
0.0
0.0
2,049,229.
8,159,187.
8,159,187.
0.0
6,771,550.

0.0
-

2008
954,034.
1,475,561.
948,535.
119,932.
5,499.
4,053,012.
70,206.
2,398,605.
1,135,332.
0.0
448,869.
3,061,501.
1,355,557.
1,705,944.
0.0
0.0
0.0
1,945,545.
124,006.
124,006.
0.0
1,821,539.
-

1,387,637.
477,469.

477,469.

63,168.

0.0
-

904,610.
333,000.
297,214.
0.0

0.0

2,173,235.
0.0
274,396.
4,299.
.39
.77
10.01
1.66
1.47
82.99

2009
977,628.
11,295.
1,464,266.
937,240.
119,932.
5,499.
23,594.
4,029,418.
70,206.
2,398,605.
1,135,332.
0.0
425,275.
3,017,057.
1,355,557.
1,661,500.
44,444.
0.0
945.
43,499.
1,945,545.
124,006.
124,006.
0.0
1,544,049.
1,544,049.
277,490.

2011

(Thousand Rupees)
2010
2011
949,759.
1,800,082.
25,192.
95,993.
1,502,603.
2,209,179.
893,401.
1,692,262.
97,122.
96,188.
2,688.
2,038.
28,478.
9,789.
4,793,612.
2,752,862.
63,263.
63,416.
2,949,130.
1,677,525.
906,272.
482,570.
0.0
874,947.
529,351.
3,885,809.
1,903,967.
494,204.
296,310.
3,391,605.
1,607,657.
81,787.
120,477.
73,105.
49,787.
8,682.
70,690.
1,775,775.
2,528,500.
124,006.
124,006.
124,006.
124,006.
0.0
1,379,973.
1,355,480.
1,379,973.
1,355,480.
271,796.
1,049,014.

12,630,723. 12,151,021. 11,127,551.

12,630,723. 12,151,021. 11,086,716.
0.0 40,835.
11,379,480. 10,871,886. 10,738,070.
9,518,258. 10,099,967.
1,353,628.
638,103.
1,251,243.
1,279,135.
389,481.
626,499.
654,391.
451,131.
427,669.
288,911.
626,499.
226,722.
162,220.
688,345.
590,364.
678,526.
678,526.
145,706.
102,055.
48,150.
115,828.
115,828. -130419
68,000.
45,905.
17,650.
21,701.
297,613. 0.0
0.0
0.0
-950339
936,198.

.4
5.58
9.34
2.43
1.34
89.47

.25
1.31
8.14
1.94
1.23
96.5

0.0

0.0
-

9,281,822.
9,061,827.
219,995.
8,544,530.
7,693,606.
850,924.
737,292.
451,443.
279,319.
172,124.
665,526.
301,874.
48,150.
40,485.
70,625.
0.0
307,035.

1,945,545.
1,989,989.
1,857,562.
2,648,977.
0.0
0.0
0.0
-148069
-30140
26,127. -227690
1,355,557.
1,355,557.
494,204.
296,310.
.39
5.37
8.99
2.52
1.32
90.09

.29
3.25
5.2
2.04
1.45
92.06

0.0

1.26
19.98
46.55
46.48
1.92
3.22
-

1.57
2.34
5.62
5.62
2.2
5.27
-

11.09
0.0
46.1
175.25

.92
0.0
3.86
156.89

1.57
2.31
5.95
5.89
.23 5.07
2.13
.95
-.31
5.64
156.89

2.23
-2.43
-7.01
-6.78

.8
.79
1.88
1.8

3.77
-1.71
-1.17
.24
-11.94
143.2

5.53
1.84
.44
.15
-2.43
203.9

Honda Atlas Cars (Pakistan) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,359,155.
3,413,309.
2,325,953.
142,891.
33,202.

6,815,120.
360,169.
4,169,120.
1,143,882.
1,141,949.
5,802,400.
1,788,206.
4,014,194.
666,667.

666,667.
2,705,208.
420,000.
420,000.
2,285,208.

30,236,085.
30,236,085.
29,068,571.

1,167,514.
365,319.
365,319.
46,356.
1,133,704.
420,688.
294,000.

3,371,875.
713,016.
1,788,206.
.26
.15
0.0
3.3
1.17
96.14

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.39
10.81
47.24
41.48
7.25
3.75
0.0
16.98
64.41
385

2011

Financial Statement Analysis of Non Financial Sector

2007
4,340,700.
5,639,039.
4,274,797.
142,891.
65,903.
3,964,417.
219,859.
2,704,946.
0.0
0.0
0.0
1,039,612.
3,906,115.
583,333.
3,322,782.
1,958,334.
0.0
0.0
1,958,334.
2,440,668.
714,000.
714,000.
0.0
0.0
1,726,668.
20,106,320.
20,106,320.
0.0
20,006,386.

0.0
-

2008
4,009,909.
5,757,451.
3,945,273.
464,172.
64,636.
2,806,835.
231,880.
1,612,696.
0.0
0.0
962,259.
3,087,066.
0.0
3,087,066.
500,000.
0.0
500,000.
3,229,678.
1,428,000.
1,428,000.
0.0
1,801,678.
-

99,934.
426,677.

426,677.

305,491.

-481649
87,785.
0.0
0.0
0.0
-

0.0

2009
6,012,350.
19,226.
7,371,727.
5,190,535.
522,267.
195,830.
606,759.
3,929,738.
20,487.
2,954,091.
0.0
955,160.
5,614,243.
2,151,601.
3,462,642.
1,500,000.
1,500,000.
0.0
0.0
0.0
2,827,845.
1,428,000.
1,428,000.
0.0
1,399,845.
1,399,845.
-

17,430,805. 14,149,646.
17,430,805. 14,149,646.
0.0 16,803,311. 13,973,144.
12,470,229.
1,502,915.
627,494.
176,502.
353,815.
640,862.
190,088.
353,815.
450,774.
348,360.
233,651.
222,769.
818.
63,617. -622285
75,764.
220,452.
0.0 0.0
0.0
-1461260

4,399,002.
3,729,678.
4,327,845.
0.0
0.0
1,500,000.
-569434
-12147
-842737
583,333.
0.0
3,651,601.
.06
1.52
0.0
2.42
1.01
99.5

.08
1.34
0.0
2.56
.91
96.4

0.0
1.57
0.0
1.42
.7
98.75

(Thousand Rupees)
2010
2011
5,434,463.
4,909,807.
21,813.
11,448.
7,371,044.
7,415,697.
4,445,810.
3,568,681.
756,288.
653,734.
125,988.
87,023.
840,852.
1,242,655.
3,511,320.
5,663,620.
82,046.
868,741.
2,329,161.
3,443,054.
0.0
1,100,113.
1,351,825.
5,636,805.
8,479,567.
5,636,805.
8,479,567.
1,333,333.
416,667.
1,333,333.
416,667.
0.0
1,975,645.
1,677,193.
1,428,000.
1,428,000.
1,428,000.
1,428,000.
0.0
547,645.
249,193.
76,000.
76,000.
471,645.
173,193.
15,854,142.
15,854,142.

22,026,109.
22,026,109.

16,093,687. 21,826,799.
13,357,356. 19,373,596.
2,736,331.
2,453,203.
-239545
199,310.
319,675.
375,859.
124,916.
139,185.
194,759.
236,674.
361,062.
373,376.
455,128.
152,255.
257,055.
136,224.
-987980
-244827
94,999.
193,584.
0.0
0.0
2,293,934.
1,440,887.
3,308,978.
2,093,860.
1,333,333.
416,667.
-1082979
-438411
1,333,333.
416,667.
.01
2.87
0.0
1.77
.62
101.51

.1
.69
0.0
2.08
.67
99.1

2.4
-5.51
-18.72
-12.4
-

1.11
.84
2.24
1.57
-

7.43
-

10.81

-2.4
0.0
-7.98
34.18

2.52
-7.43
-20.55
-15.45

.36
0.0
-.09
22.62

3.53
-10.46
-41.14
-25.87

5.3
-2.51
-13.4
-9.06

6.81
-2.84
-6.23
.33
-7.58
13.84

6.4
-.8
-1.11
.16
-3.07
11.75

4.79
-759.74
-4.4
-.21
-5.9
19.8

0.0

0.0

0.0

0.0
0.0

Indus Motor Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,716,590.
4,026,659.
1,710,467.
399,673.
6,123.

14,105,878.
7,416,180.
3,959,316.
738,281.
1,992,101.
9,560,718.
5,735.
9,554,983.
3,871.

3,871.
6,257,879.
786,000.
786,000.
5,471,879.

41,787,625.
41,787,625.
37,639,996.

4,147,629.
969,119.
969,119.
126,945.
4,072,777.
1,352,842.
943,200.

6,261,750.
1,776,735.
5,735.
.85
.3
1.77
2.64
1.48
90.07

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.53
29.07
75.61
75.5
2.88
10.55
9.75
0.0
34.6
79.62
386

Financial Statement Analysis of Non Financial Sector

2007
2,093,852.
4,763,379.
2,090,284.
381,476.
3,568.
13,571,198.
8,543,263.
2,859,951.
665,647.
0.0
0.0
1,502,337.
7,621,075.
3,714.
7,617,361.
0.0
0.0
0.0
0.0
8,043,975.
786,000.
786,000.
0.0
0.0
7,257,975.
46,384,517.
46,384,517.
0.0
41,943,923.

0.0
-

2008
4,033,762.
7,078,037.
4,033,762.
473,894.
0.0
9,714,347.
4,328,585.
2,637,629.
1,332,832.
0.0
1,415,301.
4,311,769.
0.0
4,311,769.
0.0
0.0
0.0
9,436,340.
786,000.
786,000.
0.0
8,650,340.
-

4,440,594.
1,123,718.

1,123,718.

22,685.

0.0
-

4,229,481.
1,389,795.
1,021,800.
0.0

0.0

2009
3,970,204.
29,524.
7,600,115.
3,900,977.
786,270.
3,972.
35,731.
16,715,319.
9,731,166.
4,088,858.
1,736,631.
0.0
1,158,664.
9,884,850.
5,926,529.
3,958,321.
503,700.
0.0
0.0
503,700.
10,296,973.
786,000.
786,000.
0.0
9,504,861.
196,500.
7,923,250.
6,112.

2011

(Thousand Rupees)
2010
2011
3,347,025.
4,246,881.
62,916.
47,288.
7,771,602.
9,613,259.
3,257,960.
4,176,300.
861,510.
960,973.
3,457.
2,122.
22,692.
21,171.
23,791,253. 22,587,737.
15,755,980.
8,812,199.
5,198,367.
5,690,052.
1,613,171.
1,356,068.
0.0
1,223,735.
6,729,418.
14,224,866. 12,260,958.
8,076,281.
6,519,669.
6,148,585.
5,741,289.
325,797.
454,012.
325,797.
454,012.
12,587,615. 14,119,648.
786,000.
786,000.
786,000.
786,000.
0.0
11,769,264. 13,333,648.
196,500.
196,500.
8,522,350. 10,786,750.
32,351.

49,425,261. 37,864,604. 60,093,139.

49,425,261. 37,864,604. 60,093,139.
0.0 45,576,774. 35,540,418. 55,236,625.
29,769,541. 47,278,987.
5,770,877.
7,957,638.
3,848,487.
2,324,186.
4,856,514.
1,090,850.
978,713.
1,266,177.
469,985.
468,496.
1,090,850.
508,728.
797,681.
729,071.
592,951.
2,760.
26,540.
143,873.
8,835.
77,686.
3,541,711.
2,046,013.
5,242,539.
939,743.
660,911.
1,799,136.
825,300.
786,000.
1,179,000.
0.0
0.0
0.0
6,536,529.
7,424,279.

0.0

0.0

61,702,677.
61,702,677.
57,613,542.
50,650,349.
6,963,193.
4,089,135.
1,508,443.
690,130.
818,313.
732,984.
77,115.
24,919.
4,011,455.
1,799,136.
1,179,000.
0.0
701,831.

8,043,975.
0.0
1,817,886.
3,714.

9,436,340.
0.0
1,776,668.
0.0

10,800,673.
0.0
599,102.
5,926,529.

12,913,412.
0.0
2,264,403.
8,076,281.

14,573,660.

1.21
.05
1.44
2.96
1.78
90.43

1.31
.01
2.7
3.6
2.25
92.21

1.16
.07
4.59
1.83
1.69
93.86

1.22
.24
2.68
2.21
1.67
91.92

.83
.12
2.2
2.3
1.84
93.37

0.0
1,033,319.
6,519,669.

.95
26.86
59.15
59.13
2.78
16.22
-

.46
24.08
40.52
40.52
3.15
18.74
-

9.12
0.0
36.13
102.34

7.17
0.0
33.1
120.06

1.01
11.88
20.74
20.22
1.76
9.26
232.58
5.4
.63
17.62
131.

1.16
21.92
45.82
44.21
2.92
11.56
68.48
8.72
.51
43.81
160.15

.9
14.86
30.04
29.19
1.88
10.84
161.98
6.5
.06
28.15
179.64

Millat Tractors Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
287,473.
716,925.
279,210.
29,963.
8,263.

7,166,069.
263,139.
2,283,929.
0.0
3,837,899.
781,102.
4,982,723.
0.0
4,982,723.
0.0

0.0
0.0
2,470,819.
156,183.
156,183.
0.0
2,314,636.

9,876,649.
9,787,554.
89,095.
8,709,300.

1,167,349.
354,760.
354,760.
3,054.
1,074,597.
342,000.
180,211.
36,042.

2,470,819.
0.0
552,386.
0.0
.82
.03
0.0
1.33
1.44
88.18

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.02
15.6
47.81
47.81
4.07
4.32
10.88
0.0
46.91
158.2
387

2011

Financial Statement Analysis of Non Financial Sector

2008
495,202.
946,953.
478,174.
34,123.
17,028.
6,772,594.
249,358.
1,636,153.
102,660.
3,420,398.
1,364,025.
4,228,917.
0.0
4,228,917.
0.0
0.0
0.0
3,038,879.
187,420.
187,420.
0.0
2,851,459.
-

2009
1,231,991.
104,335.
936,692.
439,208.
53,996.
30,208.
381,662.
276,578.
5,758,836.
1,010,689.
2,110,211.
148,677.
1,173,439.
1,315,820.
3,379,931.
3,379,931.
51,950.
0.0
0.0
51,950.
3,558,946.
234,275.
234,275.
0.0
3,324,671.
3,324,671.
-

11,142,461.
11,092,662.
49,799.
10,002,290.

11,432,423.
11,278,959.
153,464.
9,928,548.

16,091,730.
16,064,269.
27,461.
13,588,934.
12,778,035.
810,899.
2,502,796.
862,138.
439,983.
422,155.
402,893.
44,759.
43,411.
1,866,153.
537,212.
1,054,238.
58,569.
-51938

22,461,249.
22,399,775.
61,474.
18,379,551.
17,527,490.
852,061.
4,081,698.
1,122,345.
559,900.
562,445.
438,887.
10,007.
8,575.
3,634,001.
1,163,419.
1,903,486.
73,211.
4,265,110.

25,194,473.
24,956,729.
237,744.
20,626,228.
19,692,323.
933,905.
4,568,245.
1,233,505.
556,039.
677,466.
480,701.
11,287.
8,947.
4,220,551.
1,382,280.
1,738,761.

1,140,171.
619,387.

1,503,875.
670,881.
-

619,387.
-

670,881.
-

18,575.

26,807.
-

863,431.
200,000.
156,183.
31,238.
-

(Thousand Rupees)
2010
2011
1,435,960.
1,552,325.
157,748.
155,201.
987,911.
987,911.
446,997.
446,997.
55,622.
55,622.
29,357.
17,614.
525,467.
636,364.
276,391.
296,149.
10,737,359.
7,579,577.
1,143,880.
405,216.
2,520,520.
2,663,197.
483,605.
208,138.
4,116,821.
2,971,296.
2,472,533.
1,331,730.
7,587,912.
3,898,195.
7,587,912.
3,898,195.
18,813.
39,749.
18,813.
39,749.
4,566,594.
5,193,958.
292,844.
366,055.
292,844.
366,055.
0.0
0.0
4,273,750.
4,827,903.
58,403.
83,801.
4,215,347.
4,744,102.
-

2007
631,678.
1,067,624.
615,151.
29,694.
16,527.
5,632,646.
122,142.
1,840,082.
275,953.
2,780,664.
613,805.
3,567,744.
20,406.
3,547,338.
0.0
0.0
0.0
2,696,580.
187,420.
187,420.
0.0
2,509,160.
-

1,142,928.
291,993.
609,115.
46,855.
-

4,265,110.

2,696,580.
0.0
507,248.
20,406.

3,038,879.
0.0
241,820.
0.0

3,610,896.
0.0
274,704.
0.0

4,585,407.
0.0
567,096.
0.0

5,233,707.
0.0
1,099,510.
0.0

.89
.17
2.48
1.78
1.58
89.77

.89
.23
.9
1.57
1.6
86.85

.69
.28
.92
2.3
1.7
84.45

.76
.04
2.15
1.85
1.42
81.83

.92
.04
.83
2.76
1.94
81.87

1.32
12.59
33.42
33.42
4.25
6.06
-

1.39
16.89
39.85
39.85
1.4
6.99
-

7.75
0.0
35.4
143.88

10.
0.0
45.4
162.14

.96
26.18
56.57
56.13
1.26
7.63
43.99
11.6
-.02
56.73
151.91

1.67
37.92
89.45
88.67
1.3
8.91
424.79
16.18
.56
84.37
155.94

.76
39.62
86.48
85.97
1.63
9.46
472.73
16.75
1.08
77.54
141.89

Pak Suzuki Motor Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,765,970.
7,695,336.
3,532,985.
903,939.
232,985.

18,284,415.
8,043,617.
9,232,672.
126,292.
280,552.
601,282.
11,131,352.
11,131,352.

10,919,033.
540,444.
540,444.
10,378,589.

47,187,945.
47,187,945.
41,627,212.

5,560,733.
1,249,700.
1,249,700.
220,510.
5,139,012.
1,871,000.
270,222.

10,919,033.
3,268,012.

.76
.47
.27
2.14
1.64
88.22

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.02
25.19
54.66
54.66
5.11
10.89
0.0
60.47
202.04
388

Financial Statement Analysis of Non Financial Sector

0.0
0.0
0.0
0.0

0.0
-

2007
4,744,930.
9,717,231.
4,358,151.
1,084,378.
386,779.
16,456,407.
5,484,052.
9,184,385.
185,739.
143,301.
1,458,930.
7,224,302.
0.0
7,224,302.
0.0
0.0
0.0
13,977,035.
823,000.
823,000.
0.0
13,154,035.
-

2008
4,962,244.
10,881,196.
4,578,436.
965,864.
383,808.
11,993,899.
2,499,142.
7,732,518.
286,697.
4,449.
1,471,093.
2,803,462.
0.0
2,803,462.
0.0
0.0
0.0
14,152,681.
823,000.
823,000.
0.0
13,329,681.
-

60,747,829.
60,650,296.
97,533.
55,987,597.

48,240,683.
48,240,683.
0.0
47,650,077.

0.0
-

4,760,232.
1,256,194.

590,606.
887,873.
-

1,256,194.
-

887,873.
-

143,786.
4,281,263.
1,465,000.
411,500.
0.0

0.0
-

0.0
0.0

53,470.
992,176.
330,000.
82,300.
0.0
-

2009
5,228,101.
891,947.
10,899,732.
3,792,724.
11,883.
347,732.
4,449.
191,249.
12,427,633.
3,545,621.
6,879,729.
376,508.
0.0
1,625,775.
3,325,134.
80,000.
3,245,134.
5,000.
0.0
0.0
5,000.
14,325,600.
822,999.
822,999.
0.0
13,502,601.
0.0
13,502,601.
-

2011

(Thousand Rupees)
2010
2011
4,937,232.
4,716,123.
272,143.
659,952.
11,944,291. 12,129,970.
3,954,439.
3,540,365.
71,692.
223,626.
505,760.
303,777.
5,413.
4,190.
199,477.
207,839.
14,313,132. 18,584,994.
2,917,186.
1,139,480.
8,748,031. 12,922,396.
240,719.
322,677.
0.0
2,407,196.
4,200,441.
4,752,449.
8,008,085.
50,000.
75,000.
4,702,449.
7,933,085.
0.0
0.0
14,497,915. 15,293,032.
822,999.
822,999.
822,999.
822,999.
0.0
13,674,916. 14,470,033.
0.0
13,674,916. 14,470,033.
-

26,234,061. 42,642,762. 52,718,563.

26,234,061. 42,642,762. 52,718,563.
0.0
0.0
25,679,728. 41,638,975. 50,849,153.
22,161,224. 37,563,996. 46,562,959.
3,503,538.
4,074,979.
4,286,194.
554,333.
1,003,787.
1,869,410.
748,464.
889,501.
1,106,658.
214,550.
197,361.
263,651.
533,914.
692,140.
843,007.
434,080.
487,906.
650,005.
12,564.
21,349.
17,845.
3,315.
4,292.
5,409.
412,877.
668,015.
1,365,297.
172,624.
452,000.
585,000.
41,150.
41,150.
164,600.
0.0
0.0
-1296887
1,969,420. -165729

13,977,035.
0.0
2,404,763.
0.0

14,152,681.
0.0
579,876.
0.0

14,330,600.
0.0
199,103.
80,000.

14,497,915.
0.0
174,865.
50,000.

15,293,032.

.8
.24
.31
2.87
2.28
92.16

1.
.11
.59
2.85
4.28
98.78

1.18
.05
1.44
1.49
3.74
97.89

.66
.05
.56
2.22
3.01
97.65

.18
.03
.61
2.26
2.32
96.45

0.0

0.0
0.0

0.0
0.0
-

0.0

0.0

0.0
615,697.
75,000.

.52
19.8
34.39
34.39
6.84
6.61

.2
5.2
7.05
7.05
8.05
6.24
-

7.05
0.0
34.22
169.83

2.06
0.0
8.05
171.96

.23
2.39
2.9
2.9
5.84
3.81
125.55
1.57
.59
2.92
174.07

.33
3.62
4.64
4.63
5.25
4.87
156.64
1.57
-.03
2.62
176.16

.52
6.42
9.17
9.17
4.74
4.08
253.41
2.59
-.16
9.48
185.82

Sazgar Engineering Works Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
106,156.
163,107.
103,363.
8,906.
2,793.

149,206.
773.
79,307.
41,489.
0.0
27,637.
122,907.
29,863.
93,044.
9,805.

0.0
9,805.
122,650.
71,630.
71,630.
0.0
51,020.

439,346.
439,346.
0.0
361,083.

78,263.
21,633.
21,633.
5,130.
51,521.
14,936.
0.0
0.0

132,455.
0.0
36,585.
29,863.
.34
1.17
9.44
1.72
1.21
82.19

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.08
22.86
49.14
44.18
5.54
11.73
0.0
5.11
17.12
389

Financial Statement Analysis of Non Financial Sector

2007
127,681.
176,096.
125,334.
9,917.
2,347.
242,269.
18,383.
125,159.
43,643.
0.0
55,084.
186,218.
12,881.
173,337.
13,788.
0.0
13,788.
169,944.
78,793.
78,793.
0.0
91,151.
-

2008
211,667.
288,949.
209,943.
12,404.
1,724.
469,177.
11,951.
193,318.
202,015.
0.0
61,893.
366,726.
75,617.
291,109.
16,698.
0.0
16,698.
297,420.
86,672.
86,672.
0.0
210,748.
-

724,168.
724,168.
0.0
602,087.
-

1,943,723.
1,943,723.
0.0 1,640,775.
-

122,081.
34,504.
-

302,948.
82,830.
-

34,504.
-

82,830.
-

5,395.

11,557.
-

82,286.
23,209.
7,879.
7,879.
-

2009
224,755.
4,555.
312,039.
218,279.
15,669.
1,105.
816.
381,991.
19,832.
194,767.
96,342.
0.0
71,050.
247,501.
247,501.
47,595.
4,200.
0.0
16,353.
27,042.
311,650.
104,007.
104,007.
0.0
207,643.
207,643.
-

208,831.
67,590.
0.0 17,334.
-

2011

(Thousand Rupees)
2010
2011
234,100.
242,471.
8,243.
4,678.
331,549.
358,758.
222,297.
233,841.
16,321.
16,267.
945.
551.
2,615.
3,401.
521,752.
667,976.
8,880.
1,075.
308,230.
418,051.
89,003.
97,290.
115,639.
151,560.
344,115.
423,861.
71,558.
99,499.
272,557.
324,362.
52,083.
63,155.
1,800.
23,786.
31,911.
26,497.
31,244.
359,654.
423,431.
124,808.
149,770.
124,808.
149,770.
0.0
0.0
234,846.
273,661.
234,846.
273,661.
-

952,540.
952,540.

1,823,974.
1,823,974.

2,542,526.
2,542,526.

848,721.
719,401.
129,320.
103,819.
63,711.
25,391.
38,320.
104,953.
15,338.
12,361.
25,948.
11,718.

1,638,034.
1,446,013.
192,021.
185,940.
95,424.
40,380.
55,044.
131,311.
11,899.
10,054.
79,785.
31,791.
12,481.
20,801.
24,962.
90,452. -28336

2,271,876.
2,044,970.
226,906.
270,650.
109,312.
52,582.
56,730.
144,983.
15,480.
13,706.
147,764.
56,540.
29,954.
29,954.
16,374.

183,732.
0.0
51,198.
12,881.

314,118.
0.0
141,241.
75,617.

359,245.
4,200.
14,230.
4,200.

411,737.
1,800.
35,513.
73,358.

486,586.
0.0
61,270.
99,499.

.33
.74
6.03
1.96
1.3
83.14

.58
.59
10.39
2.85
1.28
84.41

.47
1.61
10.11
1.57
1.54
89.1

.28
.65
4.88
2.41
1.52
89.81

.23
.61
3.83
2.79
1.58
89.36

1.18
26.32
56.25
52.05
7.5 5.79
11.36
0.0
7.5
21.57

1.29
39.75
89.37
83.89

.95
4.03
8.52
7.71
-

10.05
10.74
0.0
16.3
34.32

4.89
3.1
2.72
.31
1.37
29.96

1.1
11.71
23.77
20.7
3.85
5.92
8.94
4.37
-.07
3.85
28.82

1.15
17.74
37.74
32.9
3.05
6.08
11.78
5.81
.03
6.09
28.27

Transmission Engineering Industries Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
50,646.
115,667.
50,472.
5,399.
174.

53,445.
199.
6,587.
13,480.
15,800.
17,379.
84,733.
18,875.
65,858.
55,772.

0.0
55,772.
-36414
45,000.
45,000.
0.0
-81414

115,643.
115,643.
0.0
103,436.

12,207.
12,145.
12,145.
7,550.
-3781
543.
0.0
0.0

19,358.
0.0
-4324
18,875.
.35
6.53
11.66
1.11
.63
89.44

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-3.86
-3.62
11.22
-20.69
17.56
-3.27
0.0
-.96
-8.09
390

Financial Statement Analysis of Non Financial Sector

2007

2008
55,062.

49,196.
-

122,843.
54,943.
5,915.
119.
-

0.0

57,901.
-66944
45,000.
45,000.
0.0
-111944
-

59,875.
-75034
45,000.
45,000.
0.0
-120034
-

19,967.
82,676.
701.
23,590.
29,379.
0.0
29,006.
100,521.
19,970.
80,551.
77,912.
31,043.

54,558.
156.
8,822.
13,695.
0.0
31,885.
118,913.
25,307.
93,606.
59,875.

0.0

146,816.
63,550.
5,310.
143.
-

106,550.
106,550.
0.0
105,642.

83,660.
-

122,141.
49,131.
5,724.
65.

42,393.
668.
6,814.
15,329.
0.0
19,582.
106,498.
23,634.
82,864.
57,901.
-

2009

0.0
2,098.
44,771.
-12097
117,000.
117,000.
0.0
-129097
-129097
-

97,485.
97,485.
0.0 98,414.

2011

(Thousand Rupees)
2010
2011
142,792.
126,059.
154,507.
150,776.
139,191.
122,767.
4,749.
13,528.
4.
83.
3,597.
3,209.
67,989.
61,775.
76.
69.
27,081.
26,863.
14,628.
10,523.
0.0
0.0
26,204.
24,320.
88,680.
131,977.
23,629.
22,941.
65,051.
109,036.
50,626.
12,057.
29,322. 2,055.
2,055.
19,249.
10,002.
71,475.
43,800.
117,000.
117,000.
117,000.
117,000.
0.0
0.0
-94110
-116964
-94110
-116964
48,585.
43,764.

137,421.
137,421.

108,299.
108,299.
-

71,894.
71,894.
-

115,303.
93,770.
87,730.
45,874.
39,010.
31,600.
69,429.
54,760.
56,130.
908. -929
22,118.
14,529. -15836
25,362.
15,711.
17,235.
14,215.
16,086.
4,365.
2,206.
2,183.
25,362.
15,711.
12,870.
12,009.
13,903.
28,203.
31,535.
27,904.
8,917.
14,788.
8,691.
10,126.
7,419.
6,854.
7,714.
6,508.
-29913
-28084
-31400
5,875. -3433
616.
585.
1,994.
15,086.
3,726.
0.0
0.0 0.0
0.0
0.0
0.0
0.0
-24526
9,483.
1,714.
-

-9043

-15159
0.0

0.0

-30529
-28669
23,634.
25,307.
.15
8.37
14.39
1.09
.4
99.15

.12
15.17
14.05
.94
.46
100.95

65,815.
122,101.
55,857.
31,043.
29,322.
0.0
-35126
3,881. -18519
51,013.
52,951.
22,941.
.3
6.32
21.38
.83
.82
83.9

.17
9.35
13.51
.51
.77
86.58

.08
10.32
14.64
.38
.47
122.03

-2.46
-29.68
57.88
-579.99
-

-2.38
-27.92
39.56
232.08
-

15.64
-

11.05

-28.07
0.0
-6.78
-14.88

-14.75
4.35
-13.49
23.2

-28.81
0.0
-6.37
-16.67

1.95
-1.82
-11.56
-3.65
-

5.83
1.86
4.28
-.14
.33
-1.03

3.29
-15.75
-54.48
-35.29
-

4.
.55
-3.17
.07
-1.58
6.11

2.68
-3.82
-43.68
.01
-3.
3.74

FUEL & ENERGY

ERGY

Fuel and Energy Sector - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
235,217,495.
423,426,276.
232,480,628.
20,364,090.
2,736,867.

189,477,823.
33,909,069.
4,353,984.
66,965,399.
35,333,608.
48,915,763.
181,872,022.
14,407,747.
167,464,275.
28,584,135.

28,584,135.
214,239,161.
127,105,780.
127,105,780.
87,133,381.

441,326,612.
441,326,612.
346,346,886.

94,979,726.
32,136,186.
32,136,186.
7,085,791.
77,914,261.
21,882,863.
50,815,474.
499,187.

242,823,296.
5,215,924.
14,407,747.
.75
1.61
15.17
1.04
1.04
78.48

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.98
19.02
35.54
30.8
1.1
101.36
17.65
0.0
2.86
10.92
393

Financial Statement Analysis of Non Financial Sector

2011

2007
289,962,821.
440,117,238.
261,009,820.
18,638,554.
28,953,001.
210,920,033.
33,511,123.
10,717,470.
94,961,392.
4,028,871.
67,701,177.
235,805,753.
29,907,507.
205,898,246.
47,042,236.
0.0
3,007,686.
44,034,550.
218,034,865.
135,460,347.
130,951,046.
0.0
4,509,301.
82,574,518.
-

2008
334,178,737.
499,510,987.
293,884,018.
19,507,057.
40,294,719.
270,058,175.
25,961,514.
5,761,004.
152,358,124.
4,132,223.
81,845,310.
326,673,387.
55,475,924.
271,197,463.
59,003,007.
980,000.
58,023,007.
218,560,518.
137,128,510.
131,145,103.
5,983,407.
81,432,008.
-

2009
427,133,881.
68,269,200.
522,409,737.
283,705,660.
21,455,386.
55,693,547.
4,174,812.
15,290,662.
355,153,899.
13,817,661.
6,889,728.
228,130,154.
120,176.
106,196,181.
295,419,452.
39,971,658.
255,447,795.
251,304,374.
64,135,211.
55,295,795.
782,500.
9,543,787.
121,547,081.
235,563,954.
139,981,198.
133,997,791.
5,983,407.
94,617,490.
19,151,333.
75,815,709.
965,266.

(Thousand Rupees)
2010
2011
548,424,465. 601,939,075.
96,287,638. 94,162,447.
631,361,217. 718,675,762.
373,841,369. 429,679,177.
24,026,472. 32,780,047.
66,361,573. 68,119,326.
3,391,757.
4,636,117.
8,542,128.
5,342,008.
475,061,471. 567,284,843.
20,827,662. 26,839,817.
7,041,071. 11,709,675.
341,524,881. 392,213,112.
197,272.
121,636.
105,470,585. 136,400,603.
409,179,236. 471,251,144.
59,382,851. 76,758,152.
349,796,385. 394,492,992.
301,610,772. 327,420,642.
88,078,242. 102,362,132.
47,559,576. 55,726,497.
567,500.
292,500.
11,778,958. 12,535,347.
153,626,496. 156,504,166.
312,695,928. 370,552,132.
167,548,429. 174,397,809.
161,565,022. 168,414,402.
5,983,407.
5,983,407.
112,861,505. 155,753,279.
12,949,112. 16,403,890.
100,261,945. 139,349,389.
32,285,994. 40,401,044.

511,305,500.
511,305,500.
0.0
0.0
411,606,943.
99,698,557.
40,126,193.
40,126,193.
8,511,315.
65,979,660.
19,730,968.
49,643,119.
6,469.
-

580,054,194.
580,054,194.
0.0
447,036,264.
133,017,930.
53,069,684.
53,069,684.
13,144,965.
84,674,562.
27,162,734.
51,410,636.
6,000.
-

685,430,675.
685,430,675.
0.0
566,371,001.
333,755,550.
232,533,256.
119,059,673.
34,940,178.
2,811,052.
32,129,126.
28,382,069.
24,956,008.
18,143,285.
85,167,568.
20,216,327.
45,955,732.
367,500.
111,788,176.

747,770,055. 879,002,867.
747,770,055. 879,002,867.
0.0 612,941,439. 729,057,469.
378,655,859. 443,285,990.
234,203,385. 285,771,479.
134,828,616. 149,945,398.
35,974,303. 43,696,639.
2,865,072.
4,603,475.
33,109,231. 39,093,164.
30,594,886. 33,344,772.
30,007,970. 40,293,759.
17,265,031. 26,741,395.
101,903,275. 106,275,287.
27,409,822. 34,051,329.
36,638,397. 39,833,189.
1,677,936.
877,787.
94,078,800. 101,048,675.

0.0

265,077,101. 277,563,525. 486,868,328. 614,306,700. 697,972,774.

3,007,686.
980,000. 64,917,711. 88,645,742. 102,654,632.
-3394427
6,101,192. 18,995,510. 37,855,056. 32,390,769.
32,915,193. 56,455,924. 104,889,369. 148,028,593. 179,412,784.
.56
1.66
18.57
1.02
.89
80.5

.56
2.27
26.27
.96
.83
77.07

.82
3.64
33.28
.88
1.2
82.63

.89
4.01
45.67
.73
1.16
81.97

.89
4.58
44.62
.75
1.2
82.94

1.3
14.26
30.53
25.98
.93
47.71
-

1.76
15.32
38.79
31.21
1.12
100.69
-

12.9
0.0
3.53
16.65

14.6
0.0
4.39
16.67

2.32
12.29
37.51
22.28
1.41
99.49
5.69
12.43
.2
4.85
17.58

2.27
11.29
37.17
18.51
2.03
106.2
6.9
13.63
.13
4.61
19.35

2.16
9.69
31.11
16.2
1.81
75.07
4.97
12.09
.13
4.29
22.

Growth with Composition of Assets & L

700
600
500
400
Billion Rs
200

300

8.9%

100
0
Non-Current Assets

Current Assets
2010

Growth & Composition of Operations

1000
14.9%
800
600
Billion Rs

400

200
0
Sales

Profitability/Efficiency Ratios
40
35
30
25
20
Percentage 15

37.17
31.11

18.51
11.29
9.69

10
5
0
Return on Return on Return on
Assets
Equity
Capital
Employed

h Composition of Assets & Liabilities

16.3%

15.6% 16%
13.2%

7.9%

Current Liabilities
Non-Current
Liabilities
2011

Shareholders Equity
Growth

of Operations
2010

2011

Growth
1,600.%
1,400.%
1,200.%
1,000.%
800.%
600.%
4.1% 400.%

10.1%

200.%
0.0%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

2010

14

2011

12

13.63
12.09

10
8
16.2
6
Percentage
4
2
1.16 1.2
0
Current
Ratio

4.61 4.29
2.27 2.16

Debt
Equity
Ratio

Net
Profit
Margin

Earning
Per Share
after Tax

1,800.%
1,400.%
1,200.%
1,000.%
800.%
600.%
400.%
200.%
0.0%

2010
2011

Altern Energy Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
400,789.
624,699.
400,789.
35,517.
0.0
220,840.
56,315.
0.0
0.0
0.0
164,525.
619,617.
101,218.
518,399.
0.0
0.0
0.0
2,012.
221,000.
221,000.
0.0
-218988
0.0
0.0
0.0
38,056.
-38056
35,995.
35,995.
43,822.
-113234
1,624.
0.0
0.0
2,012.
0.0
-114858
101,218.
.09
0.0
.36
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

307.96
-21.05
-188.02
-127.41
0.0
-5.2
.09
395

2011

Financial Statement Analysis of Non Financial Sector

2007
23,219,193.
24,142,705.
23,219,193.
699,633.
0.0
5,006,531.
1,740,881.
277,175.
2,436,594.
0.0
551,881.
5,502,253.
2,296,568.
3,205,685.
15,528,049.
0.0
15,528,049.
7,195,422.
3,425,500.
3,425,500.
0.0
3,769,922.
-

2008
25,078,379.
27,127,736.
25,078,379.
1,166,085.
0.0
5,591,281.
1,072,324.
354,962.
0.0
0.0
4,163,995.
7,311,996.
2,965,607.
4,346,389.
15,670,495.
0.0
15,670,495.
7,687,169.
3,425,500.
3,425,500.
0.0
4,261,669.
-

0.0
0.0
0.0

11,402,876.
11,402,876.
0.0
8,515,708.

37,174.
-

15,541,603.
15,541,603.
0.0
10,597,057.
7,659,761.
2,937,296.
4,944,546.
257,067.
0.0
257,067.
61,024.
2,579,350.
2,369,811.
2,136,128.
1,115.
0.0
0.0
4,253,020.

16,017,092.
16,017,092.

1,321,442.

0.0
3,528,882.

23,357,664.
0.0
1,130,693.
2,965,607.

28,183,550.
14,256,014.
2,135,013.
17,101,928.

29,606,415.
15,109,137.
2,066,497.
15,109,137.

30,016,798.
13,330,999.
1,328,078.
13,330,999.

.15
15.25
0.0
.37
.76
74.68

1.08
16.6
25.47
.46
1.22
68.19

1.52
15.02
37.36
.47
1.74
71.45

1.74
19.68
38.21
.47
1.99
71.9

-37174
13,166.

2,887,168.
107,406.
-

13,166.

107,406.
-

24,320.

1,739,234.

-73159

1,131,148.
455.
0.0
0.0

525.
0.0
0.0
-

22,723,471.
0.0
-73684
2,296,568.
.76
0.0
.91
-

(Thousand Rupees)
2009
2010
2011
26,978,647. 26,513,107. 25,677,107.
22,775.
38,235,448. 38,713,878. 39,228,634.
26,955,013. 26,510,724. 25,672,937.
1,338,158.
1,364,059.
1,368,912.
0.0
0.0
859.
2,383.
2,632.
6,560,502.
7,251,001.
8,742,335.
1,819,418.
322,101.
1,491,485.
322,818.
318,057.
497,117.
3,958,616.
5,983,422.
6,161,625.
0.0
459,650.
627,421.
592,108.
5,355,599.
4,157,693.
4,402,644.
2,845,914.
2,509,685.
4,157,693.
4,402,644.
19,034,633. 18,225,649. 16,222,490.
14,256,014. 15,109,137. 13,330,999.
3,508,238.
2,070,048.
2,216,600.
0.0
13,228.
300.
487.
1,257,153.
1,046,164.
674,404.
9,148,917. 11,380,766. 13,794,308.
3,425,500.
3,425,500.
3,425,500.
3,425,500.
3,425,500.
3,425,500.
0.0
5,723,417.
7,955,266. 10,368,808.
3,040,959.
4,031,698.
5,652,276.
2,682,458.
3,923,568.
4,716,532.
0.0
16,127,550.
16,127,550.
11,443,973.
8,520,966.
2,923,007.
4,573,119.
126,091.

11,595,978.
8,782,610.
2,813,368.
4,531,572.
89,573.
-

126,091.
71,500.
2,405,504.
2,256,544.
2,066,497.

89,573.
78,521.
3,173,254.
2,067,542.
1,328,078.
-

2.92
-.51
-2.03
-.64

2.99
3.84
15.2
4.91
-

0.0

0.0
-.22
21.01

1.97
6.14
20.13
7.15

48.14
1.9
13.74
.17
6.23
26.71

50.36
1.92
12.9
.06
6.03
33.22

32.12

2.67
6.65
25.38
8.29

9.92
0.0
3.3
22.44

1.5
3.9
10.55
4.45
32.44
1.64
8.23
.17
3.88
40.27

1,538.

0.0

Burshane LPG (Pakistan) Ltd. (formerly Shell Gas LPG (Pak.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
540,466.
759,669.
498,042.
63,614.
42,424.

379,583.
40,447.
17,242.
17,404.
37,002.
267,488.
684,358.
188,043.
496,315.
0.0

0.0
0.0
235,691.
26,952.
26,952.
0.0
208,739.

1,673,935.
1,673,935.
0.0
1,469,587.

204,348.
217,096.
217,096.
14,380.
18,420.
17,014.
13,476.
0.0

235,691.
0.0
-12070
188,043.
.14
.86
1.04
1.82
.55
87.79

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.9
2.24
7.57
7.57
.1
97.08
1.1
0.0
.52
87.45
396

Financial Statement Analysis of Non Financial Sector

2007
607,294.
1,041,679.
567,044.
72,756.
40,250.
279,033.
5,159.
71,190.
3,233.
2.
199,449.
623,687.
118,065.
505,622.
75,000.
0.0
75,000.
187,640.
32,343.
32,343.
0.0
155,297.
-

(Thousand Rupees)
2008
2009
2010
2011
547,279.
615,134.
533,052.
502,725.
0.0
1,059,971.
1,633,737.
918,882.
850,515.
513,452.
456,620.
387,181.
332,632.
77,626.
77,175.
17,658.
68,228.
33,827.
29,094.
24,361.
31,390.
2.
2.
2.
129,418.
121,508.
136,769.
314,437.
266,931.
202,590.
203,831.
52,621.
193,499.
126,929.
105,320.
22,094.
25,763.
25,645.
21,854.
4,320.
2,696.
5,525.
15,719.
2.
0.0
235,400.
44,973.
44,491.
60,938.
560,440.
108,159.
134,738.
117,928.
25,892.
0.0
534,548.
108,159.
134,738.
117,928.
75,000.
475,470.
252,139.
189,759.
75,000.
0.0
0.0
0.0
0.0
75,000.
400,470.
252,139.
189,759.
226,276.
298,436.
348,765.
398,869.
226,400.
226,400.
226,400.
226,400.
226,400.
226,400.
226,400.
226,400.
0.0
0.0
-124
72,036.
122,365.
172,469.
72,036.
122,365.
172,469.
0.0
-

1,753,421.
1,753,421.
0.0
1,642,324.
-

1,295,154.
1,295,154.
0.0
1,256,389.
-

111,097.
206,100.
-

38,765.
206,326.
-

206,100.
-

206,326.
-

17,732.
19,735.
-80728
-182730
7,623.
5,649.
0.0
0.0
6,469.
0.0
262,640.
301,276.
0.0
0.0
-88351
-188379
118,065.
25,892.
.01
1.01
.18
1.98
.45
93.66

2011

.1
1.52
.33
1.5
.56
97.01

1,239,600.
1,225,694.
1,471,885.
1,239,600.
1,225,694.
1,471,885.
0.0
992,825.
1,148,089.
1,366,763.
903,521.
1,057,013.
1,273,871.
89,304.
91,076.
92,892.
246,775.
77,605.
105,122.
194,803.
168,174.
133,529.
93,457.
58,271.
53,116.
101,346.
109,903.
80,413.
67,095.
69,786.
71,691.
12,684.
11,786.
3,924.
11,328.
10,086.
68,575.
82,897.
79,896.
0.0
6,129.
15,642.
0.0
0.0
22,640.
0.0
0.0
0.0
-15230
179,045. -220
773,906.
75,000.
68,575.
75,000.

600,904.
0.0
76,768.
0.0

588,628.
0.0
41,614.
0.0

1.81
1.02
.22
1.41
2.47
80.09

.98
.96
.45
1.67
1.5
93.67

1.03
.27
1.07
2.08
1.73
92.86

1,932.

3.72
-8.94
-38.14
-32.4
-

2.81
-20.91
-88.29
-64.81
-

24.63
-

1.11
10.25
25.62
12.06

48.12
7.05
5.53
.31
3.03
13.18

47.79
9.22
6.76
0.0
3.39
15.4

58.62

-4.6
0.0
-27.32
58.02

1.96
7.87
26.14
12.76

-14.11
0.0
-8.32
9.99

.77
11.08
21.37
13.43
-

2.84
67.35
5.43
-.05
2.84
17.62

Ideal Energy Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
138,324.
360,127.
138,324.
4,392.
0.0

92,210.
2,221.
5,515.
60,643.
0.0
23,831.
8,899.
0.0
8,899.
0.0

0.0
0.0
221,635.
80,000.
80,000.
0.0
141,635.

9,735.
9,735.
0.0
23,977.

-14242
2,852.
2,852.
2,866.
-19886
3.
0.0
0.0

221,635.
0.0
-19889
0.0
7.06
29.44
622.94
.04
10.36
246.3

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.04
-7.44
-8.52
-8.52
1.77
-204.27
0.0
-2.49
27.7
397

Financial Statement Analysis of Non Financial Sector

2007
134,616.
360,667.
134,616.
4,249.
0.0
81,198.
1,475.
5,606.
50,077.
0.0
24,040.
2,993.
0.0
2,993.
0.0
0.0
0.0
212,821.
80,000.
80,000.
0.0
132,821.
-

(Thousand Rupees)
2008
2009
2010
2011
130,525.
126,504.
131,289.
128,272.
0.0 360,435.
360,435.
369,120.
370,178.
130,525.
126,494.
131,278.
128,261.
4,133.
4,031.
3,943.
4,075.
0.0
0.0 0.0 11.
11.
11.
73,406.
57,993.
45,025.
42,370.
3,315.
205.
268.
280.
6,408.
0.0 37,156.
34,214.
12,087.
7,292.
0.0
0.0 26,527.
23,574.
32,670.
34,798.
7,097.
3,972.
6,404.
12,613.
0.0
0.0 7,097.
3,972.
6,404.
12,613.
0.0
1,909.
1,928.
2,160.
0.0 0.0 0.0
0.0 1,909.
1,928.
2,160.
0.0
0.0
0.0
0.0
196,834.
178,616.
167,982.
155,869.
80,000.
80,000.
80,000.
80,000.
80,000.
80,000.
80,000.
80,000.
0.0
0.0 116,834.
98,616.
87,982.
75,869.
80,000.
80,000.
80,000.
18,616.
7,982. -4131
0.0 -

7,209.
7,209.
0.0
13,290.
-

-6081

32,453.
32,453.
0.0
45,465.
-13012

2,653.
-

2,969.
-

2,653.
-

2,969.
-

80.
-

-8814

18.
-15987

0.0
0.0
0.0
-

2011

0.0
0.0
0.0
-

21,776.
21,776.
0.0
36,925.
30,290.
6,635.
-15149
3,052.
0.0
3,052.
2,321.
17.
0.0
-18218
0.0
0.0
0.0
3,110.

42,195.
42,195.

5.7
.06
114.49
.16
10.34
140.09

8.66
.08
157.12
.12
14.6
169.57

43,460.
43,460.

48,703.
40,886.
7,817.

-6508

51,131.
44,162.
6,969.
-7671

3,617.

3,783.

3,617.
3,174.
511.

3,783.
3,435.
69.

-10633
-

-11523
1,600.
0.0
8,788.

0.0
0.0
1,071.

212,821.
196,834.
180,525.
169,910.
158,029.
0.0
0.0
0.0
0.0
0.0
-8814
-15987
-18218
-12233
-11523
0.0
0.0
0.0
0.0
0.0
17.22
1.11
694.65
.03
27.13
184.35

1.93
1.21
28.65
.24
7.03
115.42

.6
.16
16.78
.25
3.36
117.65

.01
-3.95
-4.06
-4.06
-

.04
-7.62
-7.81
-7.81
-

1.29
-

-122.26
0.0
-1.1
26.6

5.06 -49.26
0.0
-2.
24.6

.03
-9.38
-9.7
-9.66

.05
-5.89
-6.14
-6.07
-6.65

.09
-6.64
-7.12
-7.03

-25.2
1.05
-1.33
21.

-26.51
.07
-1.44
19.48

-83.66
.53
-2.28
22.33

Japan Power Generation Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
6,007,210.
6,912,555.
6,007,210.
236,775.
0.0

1,130,451.
4,004.
208,935.
540,946.
0.0
376,566.
1,187,568.
212,786.
974,782.
5,194,486.

0.0
5,194,486.
755,607.
1,332,000.
1,332,000.
0.0
-576393

3,516,964.
3,516,964.
0.0
3,155,485.

361,479.
218,058.
218,058.
423,927.
-268251
326.
0.0
0.0

5,950,093.
0.0
-268577
212,786.
.46
12.05
15.38
.49
.95
89.72

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

8.45
-4.01
-49.1
-4.75
16.83
-7.63
0.0
-2.02
5.67
398

Financial Statement Analysis of Non Financial Sector

2007
5,749,899.
7,448,275.
5,749,899.
253,390.
0.0
1,247,471.
7,698.
93,239.
764,455.
0.0
382,079.
1,336,089.
239,952.
1,096,137.
5,122,309.
0.0
5,122,309.
538,972.
1,476,188.
1,476,188.
0.0
-937216
-

2008
5,515,728.
7,465,490.
5,515,728.
232,900.
0.0
1,600,415.
20,898.
131,696.
865,226.
0.0
582,595.
1,627,703.
329,702.
1,298,001.
5,027,950.
0.0
5,027,950.
460,490.
1,476,188.
1,476,188.
0.0
-1015698
-

2009
5,316,919.
30,895.
7,484,969.
5,285,924.
236,290.
0.0
0.0
100.
1,112,711.
24,846.
105,484.
680,994.
0.0
301,387.
1,905,488.
693,192.
1,212,296.
4,656,161.
4,650,516.
0.0
0.0
5,645.
-132019
1,560,376.
1,560,376.
0.0
-2173108
935.
-2174043
480,713.

4,018,190.
4,018,190.
0.0
3,739,777.

4,499,145.
4,499,145.
0.0
4,214,069.

3,505,758.
3,505,758.
0.0
3,281,624.
2,808,947.
472,677.
224,134.
71,447.
0.0
71,447.
27,168.
760,237.
558,458.
-593000
444.
0.0
0.0
52,190.

278,413.
29,096.

285,076.
41,783.
-

29,096.
-

41,783.
-

479,327.
523,976.
-216444
-162113
191.
557.
0.0
0.0
0.0
0.0
-

2011

(Thousand Rupees)
2010
2011
5,063,299.
5,617,528.
34,312.
34,312.
7,485,426.
8,291,098.
5,028,887.
5,576,913.
236,775.
258,018.
100.
6,303.
2,695,627.
2,973,456.
220,703.
130,599.
179,811.
236,435.
1,798,308.
1,930,823.
496,805.
675,599.
3,720,732.
5,917,375.
215,000.
168,200.
3,505,732.
5,749,175.
4,621,043.
4,000,587.
4,613,310.
3,989,871.
7,733.
10,716.
-582849
-1326978
1,560,376.
1,560,376.
1,560,376.
1,560,376.
-2603202
-4083547
2,457.
4,857.
-2605659
-4088404
459,977.
1,196,193.
2,731,939.
2,731,939.
-

4,724,149.
4,724,149.
-

2,443,209.
5,170,336.
2,057,603.
4,506,018.
385,606.
664,318.
288,730. -446187
68,045.
114,148.
68,045.
114,148.
32,222.
38,340.
691,426.
962,710.
517,044.
600,669.
-450729
-1501755
1,623.
1,725.
0.0
0.0
-219133
60,368.

5,661,281.
5,488,440.
4,524,142.
4,038,194.
2,673,609.
0.0
0.0
4,650,516.
4,613,310.
3,989,871.
-216635
-162670
-593444
-452352
-1503480
239,952.
329,702.
5,343,708.
4,828,310.
4,158,071.
.58
11.93
19.02
.57
.93
93.07

.54
11.65
19.23
.63
.98
93.66

.37
21.69
19.43
.55
.58
93.61

.54
25.31
65.83
.35
.72
89.43

.35
20.38
40.87
.55
.5
109.44

11.98
-3.06
-33.44
-3.73
-

14.45
-2.3
-32.44
-2.91
-

43.1
-

34.16

-5.39
0.0
-1.47
3.65

-49.7
-8.76
-361.07
-11.85

-3.6
0.0
-1.1
3.12

-14.31
-6.35
126.1
-10.53
-

33.23
-.06
-16.92
.01
-3.8
-.85

-7.47
-18.37
157.27
-44.75
-

15.19
.13
-16.5
-.03
-2.9
-3.74

19.98
-1.5
-31.79
.01
-9.64
-8.5

Karachi Electric Supply Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
42,072,040.
85,463,604.
42,072,040.
3,412,759.

23,459,304.
1,834,657.
7,682,994.
890,476.
13,051,177.
36,251,055.
3,600,000.
32,651,055.

29,280,289.
46,084,762.
46,084,762.
-16804473

41,617,723.
41,617,723.
52,034,719.

-10416996
6,231,376.
6,231,376.
225,381.
-7054184
212,900.

29,280,289.
-7267084
3,600,000.
.29
.54
18.46
.64
.65
125.03

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.24
-11.24
-20.94
-20.94

-16.95
0.0
-.63
2.54
399

Financial Statement Analysis of Non Financial Sector

2007
50,769,714.
86,197,282.
50,769,714.
3,329,498.
0.0
26,551,325.
3,937,319.
4,668,113.
8,640,510.
607,717.
8,697,666.
54,501,903.
9,391,696.
45,110,207.
1,136,813.
0.0
1,136,813.
21,682,323.
50,594,063.
46,084,762.
4,509,301.
-28911740
-

2008
63,937,175.
113,657,583.
63,905,168.
3,507,780.
32,007.
29,138,502.
2,334,148.
0.0
12,415,794.
100,259.
14,288,301.
78,161,622.
6,254,750.
71,906,872.
7,994,591.
0.0
7,994,591.
6,919,464.
52,068,169.
46,084,762.
5,983,407.
-45148705
-

2009
83,017,723.
23,222,543.
111,617,048.
58,971,309.
2,985,691.
20,566.
0.0
803,305.
48,918,076.
1,127,644.
0.0
19,114,219.
0.0
28,676,213.
60,261,038.
12,919,678.
47,341,360.
71,757,040.
476,063.
44,841,769.
0.0
5,325,528.
21,113,680.
-82279
52,068,169.
46,084,762.
5,983,407.
-52635001
8,679,810.
-61314811
484,553.

(Thousand Rupees)
2010
2011
141,726,381. 167,593,826.
20,567,238. 50,099,529.
177,276,395. 181,858,535.
120,865,072. 117,391,574.
4,053,630.
8,380,090.
37,602.
22,927.
256,469.
79,796.
65,903,117. 68,758,873.
1,189,424.
1,268,670.
29,029,574. 39,356,297.
35,684,119. 28,133,906.
93,497,024. 120,670,011.
14,151,296. 21,374,141.
79,345,728. 99,295,870.
82,831,568. 89,179,071.
158,688.
39,130,414. 47,157,037.
5,767,124.
5,605,790.
37,775,342. 36,416,244.
31,300,906. 26,503,617.
74,966,046. 80,335,490.
68,982,639. 74,352,083.
5,983,407.
5,983,407.
-75491157
-82784778
509,172.
509,172.
-76000329
-83293950
31,826,017. 28,952,905.

44,859,474.
44,859,474.
0.0
51,960,650.

49,808,514.
49,808,514.
0.0
51,462,361.

-7101176
5,430,785.
5,430,785.
1,152,137.
-11957383
227,496.
0.0
0.0
0.0
0.0
-

-1653847
15,021,549.
15,021,549.
1,874,891.
-15752045
252,607.
0.0
0.0
-

85,224,084.
85,224,084.
0.0
91,856,424.
82,371,729.
9,484,695.
-6632340
5,714,041.
0.0
5,714,041.
7,493,830.
5,589,991.
3,018,734.
-15451004
33,938.
0.0
0.0
2,218,050.

103,936,515. 130,721,180.
103,936,515. 130,721,180.
107,988,142. 130,471,788.
97,062,328. 115,990,488.
10,925,814. 14,481,300.
-4051627
249,392.
8,613,751. 10,056,862.
8,613,751. 10,056,862.
8,938,118. 10,411,941.
6,823,638.
5,127,376.
3,088,629.
3,164,398.
-14737490
-10054299
0.0
2,540,768. 10,077,433.

0.0
-

0.0

0.0
0.0
0.0

0.0
-

0.0
-

2011

0.0

22,819,136. 14,914,055. 71,674,761. 114,132,474. 115,682,688.

0.0
0.0
476,063.
158,688.
-12184879
-16004652
-15484942
-14737490
-10929263
9,391,696.
6,254,750. 13,395,741. 14,309,984. 21,374,141.
.24
2.57
19.26
.58
.49
115.83

.19
3.76
24.93
.54
.37
103.32

.34
6.56
22.43
.65
.81
107.78

.32
6.57
27.93
.5
.7
103.9

.34
3.92
30.11
.55
.57
99.81

874,964.

2.57
-16.74
-46.93
-45.9
-

9.61 -26.66
0.0
-2.64
4.7

12.45
-18.49
-110.15
-83.49

-1,604.52
-13.73
-451.97
-35.69

5.63
-8.68
-94.41
-15.86

-31.63
0.0
-3.47
1.5

7.92
-4.53
-34.79
-8.75
-

-4.12
-18.13
.02
-3.36
-.02

-3.77
-14.18
.01
-2.14
4.54

-2.18
-7.69
.05
-1.47
3.56

0.0

0.0

Kohinoor Energy Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
4,681,985.
7,004,364.
4,677,654.
211,322.
4,331.

2,050,775.
628,914.
144,637.
561,530.
715,694.
1,010,340.
484,812.
525,528.
226,313.

226,313.
5,496,107.
1,694,586.
1,694,586.
3,801,521.

5,506,125.
5,506,125.
4,271,502.

1,234,623.
128,497.
128,497.
128,262.
1,023,059.
9,800.
338,918.

5,722,420.
674,341.
484,812.
1.18
2.33
10.2
.82
2.03
77.58

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.23
15.15
19.83
18.19
2.99
38.07
18.58
0.0
5.98
32.43
400

Financial Statement Analysis of Non Financial Sector

2007
4,796,146.
7,272,090.
4,790,105.
227,774.
6,041.
2,396,818.
397,952.
209,416.
1,155,394.
0.0
0.0
634,056.
787,411.
511,500.
275,911.
75,750.
0.0
0.0
75,750.
6,329,803.
1,694,586.
1,694,586.
0.0
0.0
4,635,217.
-

(Thousand Rupees)
2008
2009
2010
2011
4,597,692.
4,376,297.
4,167,689.
4,151,288.
5,627.
2,142.
48,757.
7,393,238.
7,412,388.
7,475,790.
7,685,953.
4,593,147.
4,357,803.
4,151,240.
4,083,855.
252,228.
256,507.
274,354.
281,500.
4,545.
3,658.
3,889.
3,210.
0.0 9,209.
10,418.
15,466.
2,755,682.
2,544,811.
3,329,102.
4,986,082.
139,298.
664,074.
309,924.
135,757.
85,560.
311,234.
168,240.
123,477.
1,939,815.
963,309.
1,926,050.
3,896,021.
0.0
0.0
76,762.
591,009.
606,194.
848,126.
830,827.
792,525.
208,096.
445,077.
1,879,839.
578,705.
0.0
200,000.
1,630,987.
213,820.
208,096.
245,077.
248,852.
0.0
9,672.
0.0
0.0 0.0 0.0
0.0 9,672. 0.0
0.0
0.0
6,560,849.
6,703,340.
7,051,714.
7,257,531.
1,694,586.
1,694,586.
1,694,586.
1,694,586.
1,694,586.
1,694,586.
1,694,586.
1,694,586.
0.0
0.0 4,866,263.
5,008,754.
5,357,128.
5,562,945.
0.0 5,008,754.
5,357,128.
5,562,945.
0.0 -

5,333,106.
5,333,106.
0.0
4,180,586.

0.0
-

7,387,857.
7,387,857.
0.0
6,432,159.
-

1,152,520.
230,159.
-

955,698.
232,198.
-

230,159.
-

232,198.
-

99,984.

0.0

84,307.
-

843,782.
7,100.
254,188.
0.0

0.0
-

659,693.
659,693.
338,917.
0.0
-

6,405,553.
6,560,849.
0.0
0.0
582,494. -338917
511,500.
578,705.
1.97
1.87
21.66
.74
3.04
78.39

2011

2.62
1.14
26.26
1.
3.48
87.06

0.0
0.0

8,334,341.
9,467,394. 10,902,089.
8,334,341.
9,467,394. 10,902,089.
0.0 7,239,966.
8,629,255. 10,010,742.
6,392,309.
7,820,801.
9,236,652.
847,657.
808,454.
774,090.
1,094,375.
838,139.
891,347.
182,523.
184,249.
210,236.
0.0 182,523.
184,249.
210,236.
160,224.
193,353.
215,341.
47,796.
5,545.
79,858.
39,009.
1,754.
76,702.
918,241.
707,315.
641,920.
13,185.
20,023.
12,456.
762,564.
423,647.
423,647.
0.0
0.0
-1013711
1,854,745. -118424
6,713,012.
0.0
142,492.
0.0

7,051,714.
0.0
263,646.
200,000.

7,257,531.

7.82
.57
11.56
1.2
12.23
86.87

5.2
.06
20.34
1.26
7.48
91.15

2.14
.73
35.74
1.19
2.65
91.82

0.0

0.0
205,818.
1,630,987.

.14
12.12
14.27
13.91
3.29
25.47
-

.12
9.07
10.24
10.18
0.0
86.35
-

15.82
0.0
4.94
37.35

8.93
0.0
0.0
38.72

.03
12.87
13.85
13.84
1.19
26.78
24.54
11.02
8.52
5.34
39.56

.06
9.81
10.28
10.28
1.62
56.27
404.26
7.47
-.27
4.06
41.61

.26
7.72
8.97
8.97
1.49
88.29
9.37
5.89
-.54
3.71
42.83

Kohinoor Power Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
281,278.
564,354.
281,278.
14,626.
0.0
393,487.
677.
10,914.
143,212.
0.0
238,684.
405,751.
244,247.
161,504.
0.0
0.0
0.0
269,014.
120,000.
120,000.
0.0
149,014.
278,144.
278,144.
0.0
382,676.
-104532
3,394.
3,394.
4,601.
-101149
1.
0.0
0.0
269,014.
0.0
-101150
244,247.
.35
1.65
51.49
.41
.97
137.58

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
401

1.51
-14.35
-31.45
-31.45
25.49
-36.37
0.0
-8.43
22.42

2011

Financial Statement Analysis of Non Financial Sector

2007
259,812.
532,622.
259,812.
14,626.
0.0
333,273.
622.
7,324.
105,798.
0.0
219,529.
21,691.
1,459.
20,232.
250,000.
0.0
250,000.
321,394.
120,000.
120,000.
0.0
201,394.
-

(Thousand Rupees)
2008
2009
2010
2011
252,868.
251,506.
242,064.
233,079.
0.0
540,102.
548,324.
549,548.
554,188.
252,868.
250,183.
240,242.
231,602.
14,424.
13,839.
14,630.
14,236.
0.0
0.0
0.0
1,323.
1,822.
1,477.
129,048.
164,763.
205,121.
214,264.
5,371.
1,844.
14,657.
974.
10,999.
31,455.
32,892.
27,963.
64,142.
84,488.
62,650.
94,578.
0.0
0.0
48,536.
46,976.
94,922.
90,749.
36,544.
21,350.
26,670.
21,704.
1,459.
3,062.
3,768.
5,492.
35,085.
18,287.
22,902.
16,212.
0.0
11,266.
11,494.
11,443.
5,298.
4,552.
4,020.
0.0
0.0
0.0
5,968.
6,942.
7,423.
0.0
0.0
345,372.
383,653.
409,021.
414,196.
120,000.
126,000.
126,000.
126,000.
120,000.
126,000.
126,000.
126,000.
0.0
0.0
225,372.
257,653.
283,021.
288,196.
0.0
34,000.
34,000.
257,653.
249,021.
254,196.
0.0
-

146,573.
146,573.
0.0
186,574.

405,613.
405,613.
0.0
375,755.
-

-40001

29,858.
6,265.

4,195.
-

4,195.

6,265.
-

91.

1,235.

-36806

22,977.
0.0
0.0
6,000.

0.0
0.0
0.0
-

737,622.
737,622.
0.0
690,268.
647,480.
42,788.
47,354.
9,596.
0.0
9,596.
18,094.
245.
58.
38,289.
8.
0.0
0.0
3,105.

747,919.
747,919.

810,519.
810,519.
-

710,072.
665,823.
44,249.
37,847.
11,841.

790,159.
748,525.
41,634.
20,360.
13,618.

11,841.
18,932.
1,235.
945.
25,374.
6.

13,618.
19,738.
2,574.
884.
5,176.
2.

0.0
19,837. -8450

0.0

571,394.
0.0
-36806
1,459.

345,372.
0.0
22,977.
1,459.

394,919.
5,298.
38,281.
8,360.

420,515.
4,552.
25,368.
8,320.

425,639.
4,020.
5,174.
9,512.

4.91
.06
72.18
.25
15.36
127.29

1.9
.3
15.81
1.06
3.53
92.64

4.04
.03
11.45
1.77
7.72
93.58

2.9
.17
8.38
1.67
7.69
94.94

4.4
.32
11.67
1.81
9.87
97.49

.85
-5.81
-12.47
-8.76

.11
4.71
6.89
5.01
-

20.01

.09
5.88
6.4
6.22

23.45
661.15
5.19
.1
3.04
30.45

22.74
27.85
3.39
.52
2.01
32.46

36.88

-25.11
0.0
-3.07
26.78

.09
9.59
10.5
10.34

5.66
0.0
1.91
28.78

.08
1.16
1.26
1.22
-

28.99
6.86
.64
-.25
.41
32.87

Kot Addu Power Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
22,756,181.
38,118,274.
22,755,936.
1,589,933.
245.

11,521,601.
4,366,054.
1,129,664.
3,115,000.
0.0
2,910,883.
14,155,945.
0.0
14,155,945.
0.0

0.0
0.0
20,121,837.
8,802,532.
8,802,532.
0.0
11,319,305.

32,833,378.
32,833,378.
0.0
22,998,341.

9,835,037.
200,901.
200,901.
1,465,498.
8,596,512.
116,000.
7,130,051.
0.0

20,121,837.
0.0
1,350,461.
0.0
.53
4.46
9.49
.96
.81
70.05

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.7
24.21
40.3
33.37
1.19
29.06
26.18
0.0
9.63
22.86
402

Financial Statement Analysis of Non Financial Sector

2007
21,267,858.
38,213,786.
21,265,184.
1,588,597.
2,674.
17,663,168.
208,999.
1,759,459.
11,574,384.
0.0
4,120,326.
20,067,578.
6,431,343.
13,636,235.
0.0
0.0
0.0
18,863,448.
8,802,532.
8,802,532.
0.0
10,060,916.
-

(Thousand Rupees)
2008
2009
2010
2011
19,855,864. 18,796,425. 17,965,609. 17,421,377.
212,606.
81,068.
362,005.
38,339,971. 38,474,561. 39,326,905. 40,100,919.
19,853,466. 18,504,118. 17,800,135. 16,958,177.
1,558,171.
1,497,750.
1,560,380.
1,619,820.
2,398.
3,335.
2,415.
5,791.
0.0 76,366.
81,991.
95,404.
37,108,597. 41,162,829. 59,634,484. 77,915,846.
179,439.
400,353.
243,995.
276,113.
2,191,568.
1,967,212.
2,267,205.
3,341,020.
29,303,453. 32,721,969. 51,702,270. 67,120,940.
0.0
0.0 5,434,137.
6,073,295.
5,421,014.
7,177,773.
35,605,529. 28,739,296. 47,633,863. 63,759,143.
23,643,655.
8,626,494. 18,142,891. 24,369,670.
11,961,874. 20,112,802. 29,490,972. 39,389,473.
30,924.
8,136,722.
7,471,502.
7,618,135.
46,214.
45,728.
45,648.
5,147,476.
4,247,761.
4,209,628.
0.0
0.0 366,299.
412,852.
516,649.
30,924.
2,576,733.
2,765,161.
2,846,210.
21,328,008. 23,083,236. 22,494,728. 23,959,945.
8,802,532.
8,802,532.
8,802,532.
8,802,532.
8,802,532.
8,802,532.
8,802,532.
8,802,532.
0.0
0.0 12,525,476. 14,280,704. 13,692,196. 15,157,413.
444,451.
444,451.
444,451.
13,836,253. 13,247,745. 14,712,962.
0.0 -

37,086,650.
37,086,650.
0.0
28,343,289.
-

55,947,078.
55,947,078.
0.0
46,600,485.
-

8,743,361.
289,613.
-

9,346,593.
381,261.
-

289,613.
-

381,261.
-

1,327,430.

2,208,130.
-

7,583,640.
2,491,738.
5,281,520.
0.0
-

2011

8,059,525.
2,601,032.
4,797,380.
0.0
-

69,363,913. 85,934,854. 74,350,745.

69,363,913. 85,934,854. 74,350,745.
0.0 58,373,072. 76,010,946. 63,652,527.
55,621,836. 71,741,859. 59,941,657.
2,751,236.
4,269,087.
3,710,870.
10,990,841.
9,923,908. 10,698,218.
727,267.
631,290.
468,499.
0.0 727,267.
631,290.
468,499.
599,771.
709,886.
878,832.
6,410,224.
5,335,919.
8,704,178.
6,406,030.
5,317,502.
8,633,768.
8,722,880.
7,730,531.
9,906,961.
2,876,292.
2,454,277.
3,299,708.
5,677,633.
4,401,266.
5,721,646.
0.0
0.0
0.0
-38924
20,427,992. -1318553

18,863,448.
0.0
-189618
6,431,343.

21,358,932.
0.0
661,113.
23,643,655.

31,219,958.
46,214.
168,955.
8,672,708.

29,966,230.
45,728.
874,988.
18,188,619.

31,578,080.
45,648.
885,607.
24,415,318.

.59
3.58
31.21
.95
.88
76.42

.83
3.95
52.38
.98
1.04
83.29

1.15
9.24
47.17
1.16
1.43
84.15

1.09
6.21
60.16
1.11
1.25
88.45

1.06
11.71
90.28
.78
1.22
85.61

1.06
20.72
38.91
38.91
.96
21.08
-

1.67
16.81
40.11
40.07
1.14
25.53
-

20.45
0.0
5.78
21.43

14.41
0.0
6.2
24.23

1.6
14.92
39.28
33.18
1.03
35.26
2.36
12.58
.55
6.64
26.22

2.45
11.24
33.92
25.27
1.2
37.9
2.45
9.
-.02
5.99
25.55

2.98
11.46
42.65
32.19
1.15
22.25
2.15
13.32
0.0
7.51
27.22

Mari Gas Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,395,292.
6,217,374.
3,325,033.
386,581.
70,259.

4,822,656.
3,165,311.
0.0
1,211,969.
0.0
445,376.
5,423,202.
224,100.
5,199,102.
112,100.

0.0
112,100.
2,682,646.
367,500.
367,500.
0.0
2,315,146.

19,651,914.
19,651,914.
0.0
17,191,666.

2,460,248.
2,179,575.
2,179,575.
44,258.
602,638.
516,472.
113,850.
0.0

2,794,746.
0.0
-27684
224,100.
.81
.23
6.17
2.39
.89
87.48

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.06
7.46
22.1
20.42
.76

3.07
0.0
2.34
73.
403

Financial Statement Analysis of Non Financial Sector

2007
3,499,353.
6,665,229.
3,430,295.
378,791.
69,058.
5,172,106.
2,829,209.
0.0
1,456,725.
0.0
886,172.
5,423,190.
112,100.
5,311,090.
0.0
0.0
0.0
3,248,269.
367,500.
367,500.
0.0
2,880,769.
-

(Thousand Rupees)
2008
2009
2010
2011
6,770,555. 10,442,743. 11,502,761. 13,942,634.
2,387,079.
887,000.
1,355,577.
4,861,362.
5,812,573.
5,812,574.
6,061,752.
3,458,188.
2,492,869.
3,653,056.
3,431,662.
137,030.
346,033.
425,850.
492,172.
3,312,367.
4,602,659.
5,876,104.
7,449,641.
0.0
960,136.
1,086,601.
1,705,754.
5,820,346. 10,008,759. 10,409,653. 12,434,851.
2,214,611.
1,694,638.
3,607,305.
3,779,987.
0.0
0.0
2,374,041.
7,188,601.
6,099,654.
7,706,622.
0.0
0.0
1,231,694.
1,125,520.
702,694.
948,242.
5,891,871.
9,110,314.
8,464,507. 10,789,869.
0.0
0.0
5,891,871.
9,110,314.
8,464,507. 10,789,869.
500,000.
3,108,466.
4,257,081.
4,917,201.
1,200,000.
0.0
0.0
0.0
70,256.
76,196.
88,791.
500,000.
1,838,210.
4,180,885.
4,828,410.
6,199,030.
8,232,722.
9,190,826. 10,670,415.
367,500.
367,500.
735,000.
735,000.
367,500.
367,500.
735,000.
735,000.
0.0
0.0
5,831,530.
7,865,222.
8,455,826.
9,935,415.
2,591,730.
3,164,473.
4,547,414.
5,273,492.
5,291,353.
5,388,001.
0.0
-

22,211,083.
22,211,083.
0.0
18,993,698.
-

21,566,313.
21,566,313.
0.0
15,706,262.
-

3,217,385.
2,108,025.
-

5,860,051.
2,089,539.
-

2,108,025.
-

2,089,539.
-

163,898.
-

187,863.
-

1,382,144.
902,166.
118,262.
0.0
-

2011

3,960,305.
1,560,794.
119,070.
0.0
-

5,789,203.
5,789,203.
0.0
723,650.
0.0
723,650.
5,065,553.
2,682,282.
0.0
2,682,282.
891,285.
321,064.
113,355.
2,394,725.
488,534.
118,225.
367,500.
1,939,909.

5,240,117.
5,240,117.

6,809,686.
6,809,686.

3,251,656.
897,691.
465,539.
196,509.
1,351,088.
291,021.
227,850.
0.0
2,302,035.

3,579,877.
1,006,478.
715,756.
244,029.
2,442,160.
1,336,385.
245,490.
183,750.
2,527,117.

660,553.

847,579.

660,553.
4,579,564.
3,251,656.

847,579.
5,962,107.
3,579,877.

3,248,269.
0.0
361,716.
112,100.

6,699,030.
0.0
2,280,441.
0.0

11,341,188.
1,200,000.
1,787,966.
1,200,000.

13,447,907.
0.0
832,217.
0.0

15,587,616.
0.0
860,285.
0.0

.79
.74
6.56
2.56
.95
85.51

.78
.87
11.01
1.71
.99
72.83

.98
5.55
124.17
.28
1.1
12.5

1.15
8.88
116.4
.24
1.23
12.61

1.06
10.51
113.17
.26
1.15
12.45

1.67
16.37
46.61
45.74
4.06
-

1.03
37.25
83.84
79.63
20.15
-

6.22
0.0
13.06
88.39

1.48
14.49
33.19
26.55
16.12

1.38
6.38
15.51
10.9
4.65

18.36
0.0
65.29
168.68

1.47
10.11
24.59
16.82
4.5
-

22.13
41.37
.16
51.87
224.02

7.88
25.78
.18
14.42
125.05

11.01
35.86
.16
15.04
145.18

Nishat Chunian Power Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

404

2011

Financial Statement Analysis of Non Financial Sector

2007
-

2008
-

2009
-

(Thousand Rupees)
2010
18,063,899.
17,984,649.
78,396.
76,599.
1,098.
2,385.
266.
4,639,129.
1,561,222.
305,640.
1,732,451.
1,039,816.
3,675,555.
3,675,555.
15,378,143.
14,991,504.
386,639.
0.0
3,649,330.
3,673,469.
3,673,469.
-24139
-24139
0.0
0.0
0.0
0.0
9,411.

2011
16,758,405.
18,011,863.
16,754,300.
1,255,766.
1,908.
2,197.
8,034,425.
39,302.
665,371.
6,909,141.
420,611.
6,087,132.
6,087,132.
13,811,283.
13,811,283.
0.0
4,894,415.
3,673,469.
3,673,469.
1,220,946.
1,220,946.
20,353,055.
20,353,055.
15,750,441.
14,026,289.
1,724,152.
4,602,614.
80,622.

9,411.
3,267.

0.0
2,079,786.

80,622.
34,016.
2,940,579.
2,927,429.
1,626,013.
13,580.
734,694.
0.0
1,677,793.

19,027,473.
14,991,504.
-7489
14,991,504.

18,705,698.
13,811,283.
877,739.
13,811,283.

.9

-6454
1,035.
-

0.0
1.26
-

1.14
14.45
33.95
.82
1.32
77.39

5.22
-.03
-.18
-.03
0.0
.11
-.02
9.93

4.07
6.85
38.06
8.62
2.19
30.59
1.56
7.99
.08
4.39
13.32

Nishat Power Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

405

2011

Financial Statement Analysis of Non Financial Sector

2007
-

2008
-

0.0
0.0
0.0
0.0
0.0
0.0
0.0
8,242.
0.0
8,242.
2,007.
0.0
0.0
49,747.
2,291.
0.0
0.0
29,994.

14,336,247.
11,396,546.
47,456.
11,649,986.

.08

(Thousand Rupees)
2010
2011
16,667,306. 15,844,744.
1,679.
16,709,872. 17,091,142.
16,667,306. 15,843,065.
41,564.
1,206,006.
0.0
0.0
5,769,292.
7,925,921.
1,774,674.
11,809.
354,478.
1,012,347.
2,668,598.
6,374,208.
971,542.
527,557.
4,924,189.
4,852,985.
3,531,804.
3,810,786.
1,392,385.
1,042,199.
13,897,147. 13,423,335.
13,424,262. 12,605,115.
472,885.
818,220.
0.0
0.0
3,615,262.
5,494,345.
3,540,885.
3,540,885.
3,540,885.
3,540,885.
74,377.
1,953,460.
74,377.
1,953,460.
-

2009
14,970,510.
14,883,152.
88,360.
87,358.
954.
0.0
0.0
0.0
66,906.
58,191.
129.
0.0
0.0
8,586.
701,170.
253,440.
447,730.
11,396,546.
11,396,546.
0.0
0.0
0.0
0.0
2,939,700.
2,912,500.
2,912,500.
0.0
27,200.
0.0
27,200.
0.0

1,018,365.
1,018,365.
795,521.
729,320.
66,201.
222,844.
22,656.

16,119,395.
14,398,242.
1,721,153.
4,867,499.
97,990.

22,656.
4,611.
180,041.
179,471.
72,200.
25,023.

97,990.
42,637.
2,914,277.
2,905,685.
1,892,823.
13,739.

0.0

0.0

-2991368

0.0
.1

20,986,894.
20,986,894.

-1211533

17,512,409.
13,424,262.
47,177.
16,956,066.

18,917,680.
12,605,115.
1,879,084.
16,415,901.

.9
17.68
262.05
.05
1.17
78.12

1.32
13.89
30.37
.88
1.63
76.81

4.12
.33
1.69
.35
0.0
0.0
.16
10.09

5.21
.39
2.2
.45

3.33
8.19
41.56
10.39

2.87
1.4
7.09
-.16
.13
10.21

20.73
1.65
9.02
-.07
5.31
15.52

Oil & Gas Development Co. Ltd. (OGDC)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
44,457,959.
89,009,134.
41,906,810.
5,955,174.
2,551,149.

76,856,751.
1,186,870.
65,608.
24,498,986.
33,939,739.
17,165,548.
26,544,433.
26,544,433.

94,770,277.
43,009,284.
43,009,284.
51,760,993.

113,384,416.
113,384,416.
47,458,771.

65,925,645.
4,557,241.
4,557,241.
9,981.
65,757,228.
19,073,941.
38,708,356.

94,770,277.
7,974,931.

2.25
.01
21.61
.93
2.9
41.86

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.28
55.75
73.34
73.34
1.21
1,728.21
57.99
0.0
10.85
22.03
406

Financial Statement Analysis of Non Financial Sector

0.0
0.0
0.0
0.0

0.0
-

2007
56,715,900.
59,039,503.
27,965,907.
3,234,509.
28,749,993.
72,622,272.
4,720,292.
93,788.
27,873,515.
2,945,938.
36,988,739.
28,721,520.
0.0
28,721,520.
0.0
0.0
0.0
100,616,652.
43,009,284.
43,009,284.
0.0
57,607,368.
-

117,134,385.
117,134,385.
0.0
0.0
47,593,117.
69,541,268.
12,284,544.
12,284,544.
532,670.
60,754,509.
14,616,005.
38,708,356.
0.0
0.0
-

2008
2009
67,706,248. 92,531,628.
0.0
64,653,239. 70,011,404.
30,898,207. 29,855,966.
3,354,064.
3,807,898.
36,808,041. 49,057,766.
2,903,133.
10,714,763.
82,862,139. 85,460,768.
6,715,048.
3,973,818.
151,782.
108,301.
40,626,931. 56,140,092.
3,175,054.
0.0
32,193,324. 25,238,557.
41,196,962. 21,287,498.
0.0
0.0
41,196,962. 21,287,498.
0.0 30,533,502.
0.0
0.0
0.0
0.0
2,008,499.
0.0 28,525,003.
109,371,425. 126,171,396.
43,009,284. 43,009,284.
43,009,284. 43,009,284.
0.0
0.0
66,362,141. 83,162,112.
3,658,318.
79,503,794.
0.0

2011

(Thousand Rupees)
2010
2011
108,433,851. 112,174,063.
8,913,242. 10,903,761.
78,951,847. 87,367,623.
34,998,898. 38,774,475.
3,981,686.
4,464,059.
58,630,857. 58,926,897.
3,231,435.
3,568,930.
2,659,419.
120,433,800. 149,603,465.
7,843,820. 13,841,889.
172,084.
261,835.
82,992,291. 77,911,312.
29,425,605. 57,588,429.
34,840,843. 21,775,606.
34,840,843. 21,775,606.
36,634,322. 38,436,345.
2,699,773.
3,301,169.
33,934,549. 35,135,176.
157,392,486. 201,565,577.
43,009,284. 43,009,284.
43,009,284. 43,009,284.
114,383,202. 158,556,293.
3,859,682.
4,059,138.
110,523,520. 154,497,155.
-

139,626,295. 130,829,579. 142,571,863. 155,631,290.

139,626,295. 130,829,579. 142,571,863. 155,631,290.
0.0
0.0
52,124,138. 39,352,049. 41,948,928. 52,902,800.
0.0
39,352,049. 41,948,928. 52,902,800.
87,502,157. 91,477,530. 100,622,935. 102,728,490.
12,248,887. 13,051,906. 14,161,202. 13,643,914.
0.0
12,248,887. 13,051,906. 14,161,202. 13,643,914.
10,026,882. 11,751,673. 13,335,227.
536,799.
926,027.
1,273,312.
1,484,781.
0.0
78,307,404. 80,927,923. 88,552,753. 90,982,204.
21,039,758. 16,799,082. 23,127,095. 26,167,923.
40,858,820. 35,482,659. 23,655,106. 23,655,106.
0.0
0.0
0.0
52,979,320. 61,506,185. 67,924,141.

100,616,652. 109,371,425. 156,704,898. 194,026,808. 240,001,922.

0.0
0.0
0.0
0.0
7,430,148. 16,408,826. 28,646,182. 41,770,552. 41,159,175.
0.0
0.0
0.0
0.0
0.0
0.0

1.24
.45
23.8
.91
2.53
40.63

1.23
.38
29.1
.93
2.01
37.33

2.82
.71
42.91
.74
4.01
30.08

2.61
.89
58.21
.62
3.46
29.42

4.21
.95
50.06
.59
6.87
33.99

0.0

0.0
0.0

.29
48.48
62.19
62.19
1.19
1,248.93
-

.38
55.95
74.58
74.58
1.4
919.91
-

51.87
0.0
10.73
23.39

.41
49.26
68.72
60.83
1.81
1,208.02

.45
43.53
62.46
50.5
2.77
828.5

61.86
1.02
14.91
29.34

62.11
.86
15.21
36.6

56.08
0.0
13.32
25.43

.3
37.09
50.69
41.92
2.74
594.39
-

58.46
1.13
15.07
46.87

S.G. Power Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
114,417.
302,028.
114,417.
6,065.
0.0

228,852.
9,090.
0.0
69,405.
0.0
150,357.
26,559.
1,604.
24,955.
0.0

0.0
0.0
316,710.
178,333.
178,333.
0.0
138,377.

200,050.
200,050.
0.0
220,296.

-20246
12,302.
12,302.
652.
-34380
0.0
0.0
0.0

316,710.
0.0
-34380
1,604.
2.96
.33
34.69
.58
8.62
110.12

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.08
-8.99
-10.28
-10.28

-17.19
0.0
-1.93
17.76
407

Financial Statement Analysis of Non Financial Sector

2007
109,968.
303,632.
109,968.
6,053.
0.0
204,153.
76.
0.0
112,756.
0.0
91,321.
11,791.
0.0
11,791.
0.0
0.0
0.0
302,330.
178,333.
178,333.
0.0
123,997.
-

(Thousand Rupees)
2008
2009
2010
2011
100,045.
95,119.
95,414.
90,815.
0.0 299,123.
299,123.
299,123.
299,123.
100,045.
94,919.
90,064.
85,465.
5,415.
5,126.
4,854.
4,599.
0.0
0.0 0.0 200.
5,350.
5,350.
192,389.
191,860.
184,606.
182,769.
112.
44.
211.
411.
0.0
0.0 101,627.
101,454.
94,036.
91,936.
0.0
0.0 90,650.
90,362.
90,359.
90,422.
10,011.
11,739.
11,867.
11,937.
0.0
0.0 10,011.
11,739.
11,867.
11,937.
0.0
113.
722.
948.
0.0 0.0
609.
835.
0.0
0.0 113.
113.
113.
0.0
0.0 0.0
282,423.
275,127.
267,431.
260,699.
178,333.
178,333.
178,333.
178,333.
178,333.
178,333.
178,333.
178,333.
0.0
0.0 104,090.
96,794.
89,098.
82,366.
89,116.
89,116.
89,116.
-6750
7,678. -18
0.0 -

64,835.
64,835.
0.0
78,573.

2011

0.0
0.0
0.0
16,256.

0.0
0.0
0.0
0.0 0.0 6,337.
6,609.
6,781.
0.0 6,337.
6,609.
6,781.
-13738
-16256
-6337
-6609
-6781
11,464.
5,856.
956.
982.
432.
0.0 11,464.
5,856.
956.
982.
432.
0.0 350.
2.
3.
105.
63.
0.0 -14380
-19906
-7296
-7696
-7276
0.0
0.0
0.0 0.0
0.0
0.0 0.0
0.0
0.0
0.0
0.0
-68
4,705. -27
302,330.
282,423.
275,240.
268,153.
261,647.
0.0
0.0
0.0
0.0
0.0
-14380
-19906
-7296
-7696
-7276
0.0
0.0
0.0
0.0
0.0
9.57
.54 173.91 .21
17.31
121.19 -

10.16

8.65
-

0.0
19.22

7.94

0.0
16.34
-

7.74

0.0
15.56

0.0
15.31
-

.04
-4.37
-4.65
-4.65
-

-22.18 0.0
-.81
16.95

.04
-6.56
-6.81
-6.81

.04
-2.52
-2.62
-2.62
-

0.0
-1.12
15.84

.05
-2.71
-2.84
-2.83

.05
-2.63
-2.76
-2.75

-.01
-.41
15.43

.37
-.43
15.

0.0
-.41
14.62

Sitara Energy Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
992,104.
1,678,936.
992,104.
44,522.
0.0

1,103,674.
7,240.
45,187.
385,137.
50,000.
616,110.
1,042,374.
888,862.
153,512.
85,791.

0.0
85,791.
967,613.
190,920.
190,920.
0.0
776,693.

1,558,631.
1,558,631.
0.0
1,453,883.

104,748.
36,099.
36,099.
89,662.
7,351.
315.
0.0
0.0

1,053,404.
0.0
7,036.
888,862.
.42
5.75
24.71
.74
1.06
93.28

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.17
.38
.76
.71
34.49
.47
0.0
.37
50.68
408

Financial Statement Analysis of Non Financial Sector

2007
2,105,173.
2,829,988.
2,105,173.
39,966.
0.0
756,331.
2,957.
41,649.
220,311.
50,000.
441,414.
1,009,867.
836,873.
172,994.
882,845.
20,000.
862,845.
968,792.
190,920.
190,920.
0.0
777,872.
-

(Thousand Rupees)
2008
2009
2010
2011
2,204,561.
2,323,286.
2,492,038.
2,393,526.
20,669.
141,647.
144,795.
2,987,972.
2,119,623.
2,226,749.
2,250,067.
2,204,561.
1,372,794.
1,303,458.
1,250,298.
60,428.
73,641.
80,832.
73,436.
0.0
0.0 0.0
63,403.
63,403.
929,823.
983,530.
935,030.
1,095,286.
1,162,222.
1,127,173.
994,313.
26,217.
24,627.
13,387.
5,029.
169,252.
123,266.
156,419.
134,355.
359,979.
473,570.
405,120.
359,376.
0.0
1,380.
1,715.
2,841.
539,838.
539,380.
550,532.
492,712.
1,168,255.
1,460,646.
1,571,813.
1,857,316.
959,713.
1,206,170.
1,296,945.
1,657,762.
208,542.
254,476.
274,868.
199,554.
1,075,711.
949,505.
867,727.
296,814.
167,005.
300,227.
0.0 980,000.
782,500.
567,500.
292,500.
0.0 95,711.
0.0
0.0
4,314.
1,055,881.
1,075,357.
1,179,671.
1,233,709.
190,920.
190,920.
190,920.
190,920.
190,920.
190,920.
190,920.
190,920.
0.0
0.0 864,961.
884,437.
988,751.
1,042,789.
141,646.
141,780.
142,908.
742,791.
846,971.
899,881.
0.0 -

1,691,898.
1,691,898.
0.0
1,515,606.
-

2,643,961.
2,643,961.
0.0
2,276,881.
-

176,292.
40,183.
-

367,080.
61,337.
-

40,183.
-

61,337.
-

142,013.
-

226,518.
-

1,518.
339.
0.0
0.0
-

2011

93,359.
396.
47,730.
0.0
-

3,026,399.
3,896,185.
3,026,399.
3,896,185.
0.0 2,565,292.
3,414,042.
2,551,158.
3,397,026.
14,133.
17,016.
461,107.
482,143.
62,419.
73,297.
0.0 62,419.
73,297.
23,319.
29,202.
336,834.
315,455.
332,709.
312,982.
68,212.
142,233.
1,438.
207.
38,184.
38,184.
0.0
0.0
428,878.
506,920.

3,814,178.
3,814,178.

3,354,591.
3,305,510.
49,081.
459,587.
71,318.
71,318.
80,523.
306,251.
303,654.
92,091.
1,023.
19,092.
0.0
516,059.

1,851,637.
20,000.
1,179.
856,873.

2,131,592.
980,000.
45,233.
1,939,713.

2,024,862.
949,505.
28,590.
2,155,675.

2,047,398.
867,727.
103,842.
2,164,672.

1,530,523.
292,500.
71,976.
1,950,262.

.27
8.39
13.02
.59
.75
89.58

.33
8.57
13.62
.8
.94
86.12

.34
11.13
15.65
.87
.8
84.76

.27
8.1
10.4
1.08
.72
87.63

.2
8.03
9.42
1.13
.54
87.95

1.95
.06
.16
.1
-

2.13
3.03
9.22
4.69
1.95
15.62

40.62

.09
0.0
.06
50.74

3.53
0.0
4.87
55.3

2.24
2.01
6.4
3.28
1.75
24.55
1.21
2.25
.18
3.5
56.33

2.07
4.
12.61
6.99
3.72
24.91
1.45
3.65
.21
7.44
61.79

1.75
2.63
7.63
5.15
4.77
28.39
1.3
2.41
.24
4.77
64.62

Southern Electric Power Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
6,973,878.
8,655,628.
6,973,878.
249,923.

731,210.
21,842.
55,313.
113,423.
540,632.
2,304,949.
1,784,147.
520,802.
2,925,621.

2,925,621.
2,474,518.
1,366,758.
1,366,758.
1,107,760.

4,240,616.
4,240,616.
3,691,164.

549,452.
86,454.
86,454.
428,691.
37,519.

5,400,139.
37,519.
1,784,147.
.06
10.11
2.67
.55
.32
87.04

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.11
.49
1.52
.7
76.67
.88
0.0
.27
18.11
409

2011

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
-

0.0
-

2007
6,887,497.
8,817,999.
6,887,497.
249,643.
0.0
909,978.
99,307.
75,364.
90,428.
0.0
644,879.
3,152,195.
1,951,208.
1,200,987.
2,465,886.
0.0
2,465,886.
2,179,394.
1,366,758.
1,366,758.
0.0
812,636.
-

(Thousand Rupees)
2008
2009
2010
7,039,634.
7,327,682.
7,206,036.
0.0
9,251,853.
9,838,573. 10,034,059.
7,039,634.
7,327,682.
7,206,036.
283,461.
320,801.
327,961.
0.0
0.0
0.0
0.0
924,528.
1,920,860.
4,251,691.
41,159.
4,499.
39,824.
34,747.
79,279.
304,181.
404,783.
1,617,302.
3,465,551.
0.0
0.0
443,839.
219,780.
442,135.
3,184,128.
4,175,540.
7,017,455.
2,023,457.
2,455,893.
3,274,988.
1,160,671.
1,719,647.
3,742,467.
2,898,402.
3,044,608.
2,359,196.
3,023,297.
2,331,321.
0.0
0.0
0.0
21,244.
27,875.
2,898,402.
67.
1,881,632.
2,028,394.
2,081,076.
1,366,758.
1,366,758.
1,366,758.
1,366,758.
1,366,758.
1,366,758.
0.0
0.0
514,874.
661,636.
714,318.
0.0
661,636.
714,318.
0.0
-

4,415,591.
4,415,591.
0.0
4,163,225.

0.0
3,846,590.
150,675.
225,725.
2,834,594.
635,596.
10,765,715.
3,786,579.
6,979,136.
1,821,085.
1,534,234.

23,131.
263,720.
-1841056
1,366,758.
1,366,758.
-3207814
-3207814

465,547.
572,898.
-295124
-297762
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-

673,201.

0.0
734,933.

4,645,280.
4,780,034.
0.0
0.0
-295124
-297762
1,951,208.
2,023,457.

5,073,002.
3,023,297.
146,762.
5,479,190.

4,440,272.
2,331,321.
121,682.
5,606,309.

-19971
1,534,234.
-3917816
5,320,813.

.39
40.13
84.62
.21
.46
47.28

.5
16.91
59.32
.51
.61
80.31

.28
15.93
43.08
.61
.36
97.66

252,366.
87,170.

277,207.
102,863.
-

87,170.
-

0.0

5,842,332.
5,842,332.

10,049,985.
6,899,154.
330,400.

1,911,237.
1,911,237.
0.0
903,706.
484,967.
418,739.
1,007,531.
240,771.
0.0
240,771.
63,334.
766,957.
688,734.
146,762.
0.0
0.0
0.0
158,927.

0.0

3,989,257.
3,989,257.
0.0
3,712,050.

2011
6,899,154.

0.0

102,863.
-

.06
10.54
2.05
.57
.29
94.28

.14
14.36
10.15
.5
.29
93.05

6,579,822.
6,579,822.
-

4,691,971.
3,982,199.
709,772.
1,150,361.
56,018.

6,425,944.
6,425,944.
153,878.
3,097,552.
-

56,018.
74,657.
987,884.
920,834.
121,682.

3,097,552.
90,569.
1,048,433.
1,031,081.
-3917816
0.0

2.58
-3.81
-12.68
-5.88
-

3.23
-3.78
-14.66
-6.32
-

58.59
-

4.51
1.18
5.92
2.56

24.11
1.21
7.68
.02
1.07
14.84

19.21
1.13
2.08
.07
.89
15.23

114.81

-6.68
0.0
-2.16
15.95

3.56
1.71
7.51
2.98

-7.46
0.0
-2.18
13.77

-6.84
-35.29
-3,264.57
-177.26
29.15
-2.8
-59.54
.06
-28.67
-13.47

Sui Northern Gas Pipelines Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
43,568,193.
78,406,554.
43,561,473.
4,218,128.
6,720.

33,668,376.
15,400,518.
445,772.
14,517,536.
4,900.
3,299,650.
60,178,793.
2,559,650.
57,619,143.
1,949,084.

1,949,084.
15,108,692.
4,991,866.
4,991,866.
10,116,826.

107,897,291.
107,897,291.
94,032,495.

13,864,796.
11,146,236.
11,146,236.
1,180,203.
5,119,060.
1,515,702.
1,497,560.
499,187.

17,057,776.
2,105,798.
2,559,650.
.5
1.09
13.45
1.4
.56
87.15

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.11
7.19
26.85
23.51
2.41
242.05
4.74
0.0
7.22
30.27
410

2011

Financial Statement Analysis of Non Financial Sector

2007
50,053,930.
89,298,101.
50,036,217.
4,583,427.
17,713.
33,596,928.
13,546,228.
473,404.
16,229,067.
4,978.
3,343,251.
66,698,883.
1,286,584.
65,412,299.
662,500.
0.0
0.0
662,500.
16,289,475.
5,491,053.
5,491,053.
0.0
0.0
10,798,422.
-

(Thousand Rupees)
2008
2009
2010
62,194,617. 79,211,266. 88,240,778.
14,949,539. 16,553,986.
106,078,443. 113,137,882. 124,929,930.
62,165,176. 63,395,893. 69,819,093.
4,929,339.
5,971,105.
6,917,950.
29,441.
270,845.
355,290.
4,900.
4,900.
590,089.
1,507,509.
35,453,026. 43,340,696. 50,996,531.
8,137,148.
1,316,877.
2,009,122.
525,370.
783,362.
741,128.
18,757,385. 25,706,362. 42,874,560.
515,996.
0.0
7,517,127. 15,534,095.
5,371,721.
77,728,331. 52,595,572. 61,376,573.
1,561,895.
1,013,358.
1,000,000.
76,166,436. 51,582,214. 60,376,573.
2,780,463. 53,808,874. 59,158,657.
0.0
1,798,312.
1,251,220.
0.0
0.0
392,249.
1,232,171.
2,780,463. 51,618,313. 56,675,266.
17,138,849. 16,147,516. 18,702,079.
5,491,053.
5,491,053.
5,491,053.
5,491,053.
5,491,053.
5,491,053.
0.0
0.0
11,647,796. 10,656,463. 13,211,026.
0.0
10,656,463. 13,211,026.
0.0
-

137,187,372.
137,187,372.
0.0
0.0
123,778,570.
13,408,802.
12,246,368.
12,246,368.
860,715.
4,249,572.
1,107,566.
1,647,316.
0.0
-

124,155,033.
124,155,033.
0.0
109,107,461.
15,047,572.
14,134,052.
14,134,052.
789,247.
3,981,231.
626,301.
1,921,869.
0.0
-

168,933,831.
168,933,831.
0.0
164,309,992.
0.0
164,309,992.
4,623,839.
6,737,381.
2,001,988.
4,735,393.
5,015,553.
653,182.
92,534.
1,730,285.
0.0
0.0
0.0
17,431,999.

161,629,828.
161,629,828.

16,951,975.
0.0
1,494,690.
1,286,584.

19,919,312.
0.0
1,433,061.
1,561,895.

69,956,390.
0.0
1,730,285.
1,013,358.

77,860,736.
1,907,861.
1,000,000.

88,303,480.
9,500,000.
163,330.
10,500,000.

.45
.63
11.83
1.64
.5
90.23

.35
.64
15.11
1.27
.46
87.88

.51
.39
15.22
1.38
.82
97.26

.73
2.88
26.53
1.16
.83
96.53

.76
2.06
19.41
1.35
.94
98.08

0.0

2011
91,267,530.
15,588,482.
136,553,652.
73,909,766.
7,638,345.
239,427.
4,900.
1,524,955.
47,467,364.
1,954,060.
685,757.
36,454,217.
8,373,330.
50,431,414.
1,000,000.
49,431,414.
69,574,591.
9,500,000.
1,324,177.
1,134,352.
57,616,062.
18,728,889.
5,491,053.
5,491,053.
13,237,836.
13,237,836.

187,837,601.
187,837,601.
-

156,016,865.

184,237,173.
-

156,016,865.
5,612,963.
4,855,410.
2,092,261.
2,763,149.

184,237,173.
3,600,428.
6,699,036.
3,577,149.
3,121,887.
-

4,650,154.
279,380.
3,879,931.
873,859.
1,098,211.
0.0
16,256,271.

0.0

3,877,833.
289,248.
1,687,743.
975,308.
549,105.
274,553.
2,381,118.

4.14
5.28
27.07
24.99
1.91
289.79
-

4.7
4.39
23.82
21.6
1.75 236.32
-

3.1
0.0
5.72
29.67

3.21
0.0
6.11
31.21

6.59
1.57
10.4
3.85
215.65
19.7
1.02
.16
3.15
29.41

6.45
2.96
22.27
5.25
2.74
218.09
14.89
2.4
.13
5.47
34.06

6.41
1.21
9.02
2.03
1.3
273.91
6.83
.9
.02
1.3
34.11

Sui Southern Gas Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
24,956,154.
49,246,982.
24,899,887.
2,226,382.
56,267.

22,123,547.
3,814,642.
281,362.
10,898,343.
257,237.
6,871,963.
27,108,774.
2,684,236.
24,424,538.
8,725,052.

8,725,052.
11,245,875.
6,711,743.
6,711,743.
4,534,132.

77,562,255.
77,562,255.
70,853,144.

6,709,111.
6,749,199.
6,749,199.
1,390,460.
1,720,226.
417,116.
872,527.

19,970,927.
430,583.
2,684,236.
.55
1.79
14.05
1.65
.82
91.35

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.19
4.06
15.32
8.97
1.49
275.67
2.22
0.0
1.94
16.76
411

Financial Statement Analysis of Non Financial Sector

2007
31,395,913.
57,756,020.
31,333,811.
2,248,374.
62,102.
30,523,976.
5,267,639.
368,903.
16,118,951.
236,818.
8,531,665.
39,720,789.
3,257,266.
36,463,523.
12,460,197.
0.0
2,987,686.
9,472,511.
9,738,903.
6,711,743.
6,711,743.
0.0
0.0
3,027,160.
-

(Thousand Rupees)
2008
2009
2010
2011
33,877,137. 39,521,329. 42,924,835. 60,785,924.
3,537,669.
4,750,415.
5,663,675.
61,543,598. 64,620,923. 69,404,439. 89,611,770.
33,807,564. 34,557,963. 36,915,188. 53,980,664.
2,215,489.
2,772,817.
2,957,777.
3,354,794.
69,573.
43,891.
4,510.
15,973.
1,266,777.
92,017.
998,882.
115,029.
1,162,705.
126,730.
37,825,767. 61,032,671. 67,834,860. 79,376,692.
4,356,367.
1,477,224.
620,956.
1,084,933.
512,383.
490,539.
455,415.
702,720.
20,045,028. 32,568,205. 43,815,667. 49,182,342.
157,494.
118,796.
118,795.
118,795.
12,754,495. 26,377,907. 22,824,027. 28,287,902.
45,805,157. 57,923,004. 66,631,297. 77,310,321.
2,414,615.
4,969,490.
8,755,336.
7,272,259.
43,390,542. 52,953,514. 57,875,961. 70,038,062.
15,582,621. 32,947,402. 30,055,980. 34,825,179.
17,496,775. 11,644,780. 14,471,126.
0.0
0.0
0.0
1,308,176.
1,530,262.
1,825,246.
15,582,621. 14,142,451. 16,880,938. 18,528,807.
10,315,126.
9,683,594. 14,072,418. 28,027,116.
6,711,743.
6,711,743.
6,711,743.
8,389,679.
6,711,743.
6,711,743.
6,711,743.
8,389,679.
0.0
0.0
3,603,383.
2,971,851.
7,360,675.
9,385,491.
328,681.
234,868.
234,868.
2,643,170.
7,125,807.
9,150,623.
0.0
-

85,716,663.
85,716,663.
0.0
79,789,367.

0.0
-

5,927,296.
6,882,423.

6,882,423.

1,778,740.

1,335,225.
370,219.
335,587.
0.0

0.0
-

0.0

2011

86,829,339. 108,151,087. 107,736,781. 114,529,160.

86,829,339. 108,151,087. 107,736,781. 114,529,160.
0.0
0.0
79,425,176. 108,672,507. 104,896,047. 112,210,765.
102,388,858. 95,333,111. 102,889,971.
6,283,649.
9,562,936.
9,320,794.
7,404,163. -521420
2,840,734.
2,318,395.
8,128,793.
4,571,844.
3,241,502.
4,800,419.
715,607.
714,540.
973,210.
8,128,793.
3,856,237.
2,526,962.
3,827,209.
3,719,317.
7,539,687.
6,777,400.
2,370,674.
4,409,792.
5,015,893.
5,786,122.
2,599,845.
2,620,138.
2,406,762.
2,381,632.
416,699.
7,013,418.
5,519,679.
415,492.
0.0
609,524.
1,325,123.
838,968.
0.0
1,006,761.
2,097,420.
0.0
0.0
1,677,936.
419,484.
-5189460
6,861,393. 13,097,157.

22,199,100.
2,987,686.
629,419.
6,244,952.

25,897,747.
0.0
1,127,172.
2,414,615.

42,630,996.
17,496,775.
416,699.
22,466,265.

44,128,398.
11,644,780.
5,397,133.
20,400,116.

62,852,295.
14,471,126.
2,097,136.
21,743,385.

.54
2.08
18.8
1.38
.77
93.09

.54
2.73
23.09
1.21
.83
91.47

.59
4.08
30.11
1.08
1.05
100.48

.67
4.66
40.67
.97
1.02
97.36

.65
5.05
42.94
.82
1.03
97.98

10,251,946.

5.36
2.45
12.73
6.33
2.88
232.36
-

5.95
3.56
23.75
9.9
2.34 169.46
-

1.56
0.0
1.44
14.51

2.74
0.0
2.93
15.37

9.38
.48
4.17
1.22
220.47
1.16
.39
-.06
.62
14.43

6.87
6.64
59.05
16.17
6.36
236.57
3.68
6.51
.07
9.54
20.97

4.
4.4
26.22
10.32
2.
162.98
3.29
4.82
.12
5.
33.41

The Hub Power Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
33,324,680.
48,733,023.
33,319,208.
1,652,669.
5,472.

10,190,712.
3,363,306.
1,890,864.
2,938,436.
0.0
1,998,106.
4,279,966.
979,062.
3,300,904.
9,250,221.

0.0
9,250,221.
29,985,205.
11,571,544.
11,571,544.
0.0
18,413,661.

30,915,687.
30,915,687.
0.0
26,557,346.

4,358,341.
280,729.
280,729.
1,577,496.
2,768,437.
0.0
2,140,736.
0.0

39,235,426.
0.0
627,701.
979,062.
1.47
5.1
9.5
.71
2.38
85.9

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.45
6.14
8.98
6.82
1.29
16.35
8.95
0.0
2.39
25.91
412

Financial Statement Analysis of Non Financial Sector

2007
31,861,785.
48,914,567.
31,856,615.
1,657,043.
5,170.
13,131,730.
742,861.
2,563,757.
7,936,783.
0.0
1,888,329.
7,670,092.
3,069,062.
4,601,030.
8,271,160.
0.0
8,271,160.
29,052,263.
11,571,544.
11,571,544.
0.0
17,480,719.
-

(Thousand Rupees)
2008
2009
2010
2011
33,940,577. 40,843,660. 56,067,554. 60,457,078.
8,996,646. 26,371,939.
9,956,405.
52,652,367. 49,653,152. 49,737,070. 72,438,765.
33,938,057. 29,225,249. 27,609,409. 48,374,377.
1,665,821.
1,709,616.
1,723,516.
1,965,591.
2,520.
1,661,733.
1,424,160.
1,422,162.
0.0 960,032.
662,046.
704,134.
28,756,172. 50,996,546. 69,964,674. 93,581,396.
662,226.
1,034,660.
927,940.
2,562,524.
1,564,183.
2,540,887.
1,559,876.
3,773,699.
24,871,327. 46,629,457. 66,712,461. 85,806,069.
0.0
0.0 1,658,436.
791,542.
764,397.
1,439,104.
26,933,980. 50,902,674. 70,394,638. 90,587,592.
14,305,840.
4,574,332.
8,400,189. 11,682,276.
12,628,140. 46,328,342. 61,994,449. 78,905,316.
7,292,098. 11,357,733. 25,511,722. 33,090,216.
11,342,483. 25,454,733. 33,069,836.
0.0 0.0
0.0 15,001.
15,689.
19,320.
7,292,098.
249.
41,300.
1,060.
28,470,671. 29,579,799. 30,125,868. 30,360,666.
11,571,544. 11,571,544. 11,571,544. 11,571,544.
11,571,544. 11,571,544. 11,571,544. 11,571,544.
0.0
0.0 16,899,127. 18,008,255. 18,554,324. 18,789,122.
95,687.
357,415.
605,690.
17,912,568. 18,196,909. 18,183,432.
0.0 -

49,575,047.
49,575,047.
0.0
45,411,178.
-

70,428,588.
70,428,588.
0.0
65,678,654.
-

4,163,869.
252,919.
-

4,749,934.
288,770.
-

252,919.
-

288,770.
-

1,417,499.

1,965,971.
-

2,654,237.
0.0
3,297,890.
0.0
-

2,600,583.
0.0
2,487,882.
0.0
-

37,323,423.
0.0
-643653
3,069,062.
1.13
2.86
16.01
1.1
1.71
91.6

2011

82,783,924. 99,694,264. 123,309,604.

82,783,924. 99,694,264. 123,309,604.
0.0 76,687,113. 92,006,319. 114,092,576.
71,894,694. 86,246,924. 108,141,995.
4,792,419.
5,759,395.
5,950,581.
6,096,811.
7,687,945.
9,217,028.
415,046.
485,576.
535,231.
0.0 415,046.
485,576.
535,231.
210,845.
257,127.
260,083.
2,098,138.
1,800,556.
3,165,721.
1,912,680.
1,563,213.
2,089,544.
3,717,099.
5,468,837.
5,563,212.
0.0 13,751.
3,876,467.
5,785,772.
6,364,349.
0.0
0.0
15,017,419.
4,645,167.
810,478.

35,762,769. 40,937,532. 55,637,590. 63,450,882.

0.0 11,342,483. 25,454,733. 33,069,836.
-316935
-814888
112,701. -159368
14,305,840. 15,916,815. 33,854,922. 44,752,112.
.95
2.79
35.31
1.12
1.07
93.26

.94
2.53
56.33
.9
1.
92.64

.96
1.81
66.92
.79
.99
92.29

.98
2.57
69.59
.8
1.03
92.53

0.0

.55
6.
8.99
6.93
.8
19.34
-

1.2
4.83
9.04
7.12
1.05
45.03
-

5.35
0.0
2.29
25.11

3.69
0.0
2.25
24.6

2.1
4.81
12.81
9.69
.96
32.58
2.94
4.49
.24
3.21
25.56

3.18
5.02
18.32
11.33
.95
63.91
4.5
5.49
.05
4.73
26.03

4.07
3.97
18.39
9.34
.87
32.68
3.66
4.51
.01
4.8
26.24

INFORMATION, COMM. & TRANSPORT

SERVICES

TRANSPORT

Information, Comm. and Transport Services - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
204,377,810.
360,922,412.
191,909,682.
17,548,525.
12,468,128.

108,736,839.
36,698,344.
56,517.
24,848,616.
17,777,643.
29,355,719.
94,258,602.
28,151,886.
66,106,716.
68,147,372.

15,395,920.
52,751,452.
150,708,675.
86,760,141.
86,580,141.
180,000.
63,948,534.

173,115,661.
171,446,440.
1,669,221.
109,658,732.

63,456,929.
41,363,114.
41,363,114.
6,591,797.
21,632,383.
11,128,888.
308,368.
220,940.

218,856,047.
15,395,920.
10,195,127.
43,547,806.
.84
3.81
14.35
.55
1.15
63.34

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.08
7.59
14.33
10.44
34.06
3,063.07
12.5
0.0
1.21
17.41
415

Financial Statement Analysis of Non Financial Sector

2007
224,340,744.
397,263,273.
210,744,172.
21,330,151.
13,596,572.
107,415,911.
38,268,676.
8,409,092.
21,438,677.
19,269,627.
20,029,839.
112,998,819.
37,477,269.
75,521,550.
79,985,168.
12,715,394.
67,269,774.
138,772,668.
91,991,094.
90,471,099.
1,519,995.
46,781,574.
-

2008
286,143,105.
450,551,828.
272,151,792.
26,391,984.
13,991,313.
103,298,100.
26,996,242.
302,057.
22,483,032.
17,364,583.
36,152,186.
177,786,010.
50,162,531.
127,623,479.
113,669,876.
16,796,573.
96,873,303.
97,985,319.
92,622,082.
92,442,082.
180,000.
5,363,237.
-

2009
403,460,952.
21,454,052.
585,095,108.
344,557,079.
34,305,274.
18,366,996.
1,874,944.
17,207,881.
117,855,822.
30,078,700.
5,226,494.
29,627,402.
27,593,325.
25,329,901.
170,635,808.
27,264,391.
143,371,417.
212,124,145.
51,846,072.
7,652,250.
23,015,433.
32,903,524.
96,706,866.
138,556,821.
97,436,264.
97,428,764.
7,500.
1,240,759.
5,973,338.
-4732579
39,879,798.

189,668,819.
187,797,649.
1,871,170.
127,060,573.
62,608,246.
45,149,053.
45,149,053.
10,387,097.
15,614,323.
957,969.
10,437,299.
89,769.
-

207,058,349.
206,093,346.
965,003.
152,596,362.
54,461,987.
89,866,684.
89,866,684.
12,787,621.
-40395933
1,297,598.
791,380.
238,950.
-

247,207,824.
240,173,980.
7,033,844.
176,515,245.
160,824,456.
15,690,789.
70,692,579.
53,433,569.
14,492,787.
38,940,782.
37,396,948.
16,376,525.
12,167,347.
8,015,976.
4,765,212.
8,345,679.
0.0
42,516,320.

2011

(Thousand Rupees)
2010
2011
389,498,677. 408,658,519.
25,705,519. 27,798,887.
585,257,618. 618,717,516.
320,336,526. 323,261,183.
33,676,129. 35,457,747.
17,242,971. 18,336,823.
1,989,469. 19,568,806.
24,224,192. 19,692,820.
105,221,911. 99,443,292.
21,660,438. 25,692,262.
4,832,409.
5,072,243.
29,998,258. 28,113,311.
16,690,697.
4,606,999.
32,040,109. 35,958,477.
197,118,476. 217,332,883.
63,385,805. 67,861,767.
133,732,671. 149,471,116.
188,797,528. 207,050,514.
37,486,739. 56,138,668.
8,541,752. 13,524,760.
19,673,553. 13,019,283.
22,496,721. 15,978,239.
100,598,763. 108,389,564.
108,804,584. 83,718,414.
104,200,151. 107,204,877.
104,192,651. 107,197,377.
7,500.
7,500.
-17465280
-47347114
6,288,285.
5,648,303.
-23753565
-52995417
22,069,713. 23,860,651.
257,870,681.
249,015,280.
8,855,401.
190,954,911.
175,668,776.
15,286,135.
66,915,770.
50,805,158.
14,476,508.
36,328,650.
38,361,254.
16,658,236.
13,702,611.
10,332,500.
6,141,326.
9,871,827.

273,699,911.
266,507,193.
7,192,718.
220,890,847.
203,850,410.
17,040,437.
52,809,064.
57,367,563.
14,747,800.
42,619,763.
46,371,750.
17,362,779.
13,394,089.
-15077860
4,316,398.
9,762,431.
0.0
60,540,209. 32,114,816.

218,757,836. 211,655,195. 350,680,966. 297,602,112. 290,768,928.

12,715,394. 16,796,573. 74,861,505. 57,160,292. 69,157,951.
-5094915
-5680653
-29156689
4,219,055. -42484911
50,192,663. 66,959,104. 102,125,896. 120,546,097. 137,019,718.
.7
5.48
11.3
.57
.95
66.99

.38
6.18
10.86
.53
.58
73.7

.51
6.62
11.98
.47
.69
71.4

.35
6.46
11.63
.52
.53
74.05

.27
6.34
10.27
.54
.46
80.71

0.0

1.39
4.84
10.79
7.14
1.4
22.56
-

2.97
-11.2
-34.12
-18.77
-52.68
685.49
-

8.23
0.0
1.62
15.34

-19.51
0.0
-4.51
10.6

2.76
1.76
6.78
2.85
.39
47.3
1.66
3.24
.11
.33
14.22

3.55
2.03
8.35
3.19
.42
53.36
1.75
4.01
.16
.4
10.44

5.07
-3.01
-15.66
-5.13
-1.99
53.96
-.13
-5.51
.08
-1.81
7.81

Growth with Composition of

450
400
350
300
250
200
Billion Rs
150
100
50
0

4.9%

Non-Current Assets

Current Assets
2010

Growth & Composition of Operations

300
250
200
150
Billion Rs
50
0
-50

6.1%

100

Sales

Profitability/Efficiency Ratios
10
5

8.35
2.03
3.19

0
-5
Percentage
-10
-15
-20

Return on
Return on
Assets -3.01
Equity

Return on
Capital
Employed

-15.66

Growth with Composition of Assets & Liabilites

10.3%

1,500.%
1,000.%
500.%
0.0%

9.7%

-500.%
-1,000.%

-5.5%

Current Liabilities

-1,500.%
-2,000.%
-23.1% -25%
Shareholders Equity

Non-Current
Liabilities

2011

Growth

omposition of Operations
2010

2011

Growth
5,000.%
0.0%

-21.1%

Gross Profit

-5,000.%
-10,000.%
-15,000.%
-20,000.%
-245.9% -25,000.%
-30,000.%

Net Profit Before Tax

Key Performance Indicators

2010

5.07

2010

2011

3.55

4.01 2011

2
0

-5.13 Percentage -2
-4
-6

0.53 0.46

Current
Ratio

.4

Debt Equity Net Profit Earning Per

Ratio
Margin
Share after
Tax -1.81
-5.51

HUM Network Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
137,954.
154,288.
126,922.
20,380.
11,032.

391,476.
12,065.
59.
160,465.
0.0
218,887.
98,200.
7,387.
90,813.
20,358.

0.0
20,358.
410,872.
500,000.
500,000.
0.0
-89128

519,982.
519,982.
0.0
439,477.

80,505.
90,558.
90,558.
538.
-8437
1,602.
0.0
0.0

431,230.
0.0
-10039
7,387.
1.76
.1
30.86
.98
3.99
84.52

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.29
-2.14
-2.7
-2.62
8,813.25
-1.62
0.0
-.2
8.22
417

Financial Statement Analysis of Non Financial Sector

2007
173,856.
218,117.
164,689.
26,061.
9,167.
521,213.
31,248.
101,787.
245,087.
0.0
143,091.
110,084.
13,839.
96,245.
78,005.
0.0
78,005.
506,980.
500,000.
500,000.
0.0
6,980.
-

(Thousand Rupees)
2008
2009
2010
2011
185,498.
420,398.
489,762.
558,868.
6,348.
2,277.
260,051.
323,401.
354,098.
383,393.
177,320.
211,094.
206,265.
199,569.
29,304.
29,803.
45,113.
50,095.
8,178.
8,092.
10,294.
12,846.
0.0
0.0
194,864.
270,926.
346,453.
839,972.
778,540.
996,774.
1,036,971.
63,996.
63,856.
137,357.
89,154.
826.
835.
1,240.
253.
471,963.
408,662.
429,946.
468,324.
0.0
0.0
0.0
303,187.
305,187.
428,231.
479,240.
240,377.
410,635.
607,433.
518,497.
38,619.
152,431.
241,371.
231,371.
201,758.
258,204.
366,062.
287,126.
52,807.
62,584.
45,248.
55,647.
32,667.
14,000.
0.0
0.0
0.0
0.0
0.0
19,554.
27,716.
52,709.
52,807.
10,363.
3,532.
2,938.
732,286.
725,719.
833,855.
1,021,695.
500,000.
500,000.
500,000.
500,000.
500,000.
500,000.
500,000.
500,000.
0.0
0.0
0.0
232,286.
225,719.
333,855.
521,695.
0.0
0.0
225,719.
333,855.
521,695.
0.0
0.0

1,154,377.
1,154,377.
0.0
863,689.
-

1,453,947.
1,453,947.
0.0
864,559.
-

290,688.
139,106.
-

589,388.
228,958.
-

139,106.
-

228,958.
-

8,028.

11,190.
-

146,238.
3,111.
0.0
0.0
-

2011

355,075.
117,932.
0.0
0.0
-

1,116,856.
1,116,856.
0.0
459,622.
381,962.
77,660.
657,234.
279,570.
129,206.
150,364.
257,994.
37,315.
34,540.
363,545.
128,131.
0.0
0.0
188,674.

1,284,273.
1,284,273.

137,139.

0.0

0.0

0.0
0.0
0.0

0.0
0.0
0.0

1,436,505.
1,436,505.
-

689,449.
528,559.
160,890.
594,824.
270,573.
114,951.
155,622.
254,728.
28,117.
25,976.
313,820.
110,983.
80,000.

0.0

0.0
773,761.
664,837.
108,924.
662,744.
359,726.
161,643.
198,083.
296,065.
38,769.
37,586.
296,290.
114,109.
50,000.
0.0
23,216.

584,985.
0.0
143,127.
13,839.

785,093.
0.0
237,143.
38,619.

788,303.
32,667.
235,414.
185,098.

879,103.
14,000.
122,837.
255,371.

1,077,342.

2.51
.7
21.23
1.66
4.73
74.82

2.23
.77
32.46
1.42
3.49
59.46

1.15
3.34
36.59
.93
1.9
41.15

.93
2.19
33.48
.86
1.64
53.68

1.08
2.7
32.6
.9
2.
53.86

0.0

0.0
132,181.
231,371.

.37
23.89
31.87
28.78
-

.4
41.27
57.3
51.83
-

11.34
-

1,760.23

12.67
0.0
2.86
10.14

.65
32.69
49.87
46.21

24.42
0.0
4.74
14.65

1,337.55
11.53
32.55
.4
4.71
14.51

.78
23.37
40.24
37.64
2.54
1,035.7
13.08
24.44
.21
4.06
16.68

.56
19.22
31.94
30.29
3.64
5,677.89
8.88
20.63
.04
3.64
20.43

Media Times Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

418

Financial Statement Analysis of Non Financial Sector

2011

2007
-

2008
-

(Thousand Rupees)
2009
2010
2011
1,673,848.
1,643,125.
1,720,950.
197,943.
90,345.
217,958.
1,324,678.
1,550,921.
1,541,630.
1,133,914.
1,234,005.
1,115,047.
855,001.
129,397.
116,628.
153,778.
153,174.
152,907.
0.0
0.0
188,213.
165,601.
235,038.
529,520.
379,127.
268,892.
9,178.
18,461.
7,824.
95,356.
24,156.
7,155.
189,216.
196,072.
134,581.
75,000.
0.0
160,770.
140,438.
119,332.
355,973.
220,205.
281,373.
77,607.
51,263.
62,112.
278,366.
168,942.
219,261.
408,705.
436,985.
506,569.
46,563.
0.0
0.0
293,754.
391,629.
441,485.
0.0
0.0
36,544.
45,230.
54,438.
31,844.
126.
10,646.
1,438,690.
1,365,062.
1,201,900.
1,341,383.
1,341,383.
1,341,383.
1,341,383.
1,341,383.
1,341,383.
0.0
0.0
97,307.
23,679. -139483
76,223.
76,223.
76,223.
-215706
21,084. -52544
0.0
0.0

504,415.
498,588.
378,729.
504,415.
498,588.
378,729.
0.0
0.0
0.0
324,819.
374,137.
326,926.
92,784.
88,932.
84,700.
232,035.
285,205.
242,226.
179,596.
124,451.
51,803.
187,098.
193,106.
204,996.
7,130.
12,242.
7,416.
179,968.
180,864.
197,580.
145,062.
148,488.
137,940.
38,145.
42,452.
82,930.
99,424.
39,222.
81,041.
-23759
-108304
-226500
735.
2,493.
4,011.
0.0
0.0
0.0
0.0
0.0
0.0
-53056
219,364.
75,624.

1,847,395.
1,802,047.
1,708,469.
46,563.
0.0
0.0
-24494
-110797
-230511
124,170.
51,263.
62,112.

.77
7.56
37.51
.23
1.49
64.4

.97
8.51
39.33
.25
1.72
75.04

.51
21.9
35.53
.19
.96
86.32

.53
-1.08
-1.65
-1.29

.48
-5.13
-7.73
-5.94
-

5.29
.76
-4.71
-.07
-.18
10.73

.66
-11.29
-17.65
-12.9
-

20.64
-1.76
-21.72
.33
-.83
10.18

52.93
-1.79
-59.81
.1
-1.72
8.96

Netsol Technologies Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
375,990.
396,703.
307,788.
32,044.
68,202.

678,624.
127,276.
0.0
150,765.
15,188.
385,395.
105,577.
45,462.
60,115.
7,918.

0.0
7,918.
941,119.
354,820.
354,820.
0.0
586,299.

600,152.
109,969.
490,183.
291,734.

308,418.
157,141.
157,141.
5,767.
169,218.
1,592.
0.0
0.0

949,037.
0.0
167,626.
45,462.
2.78
.96
25.12
.57
6.43
48.61

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.12
19.28
21.68
21.54

28.2
0.0
4.72
26.52
419

Financial Statement Analysis of Non Financial Sector

2007
561,990.
468,874.
364,151.
31,804.
197,839.
1,031,106.
67,529.
499,012.
319,109.
15,188.
130,268.
286,904.
137,273.
149,631.
13,031.
0.0
13,031.
1,293,161.
408,043.
408,043.
0.0
885,118.
-

(Thousand Rupees)
2008
2009
2010
2011
973,229.
1,468,015.
2,183,881.
3,338,776.
61,571.
165,433.
219,797.
720,030.
705,042.
805,052.
1,450,133.
537,541.
519,424.
522,549.
1,045,138.
72,841.
88,071.
314,037.
444,106.
435,688.
871,832.
1,493,810.
2,073,091.
15,188.
0.0
0.0
0.0
2,089.
750.
1,504,269.
1,448,651.
1,998,831.
1,800,187.
127,933.
227,992.
197,059.
222,681.
0.0
0.0
0.0
0.0
432,861.
623,499.
974,046.
1,021,762.
15,188.
0.0
22,120.
0.0
928,287.
597,160.
805,606.
555,744.
460,360.
402,704.
565,411.
804,435.
214,759.
200,000.
200,000.
200,000.
245,601.
202,704.
365,411.
604,435.
18,092.
135,044.
71,119.
146,983.
87,500.
62,500.
122,832.
34,520.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
18,092.
13,024.
8,619.
24,151.
1,999,046.
2,378,918.
3,546,182.
4,187,545.
597,375.
779,102.
779,102.
779,102.
597,375.
779,102.
779,102.
779,102.
0.0
0.0
0.0
1,401,671.
1,599,816.
2,767,080.
3,408,443.
273,029.
384,063.
356,878.
1,326,787.
2,383,017.
3,051,565.
0.0
0.0
-

1,082,420.
174,690.
907,730.
465,783.
-

1,556,158.
1,556,158.
0.0
613,493.
-

616,637.
199,326.
-

942,665.
285,140.
-

199,326.
-

285,140.
-

9,476.

14,260.
-

429,488.
4,068.
0.0
89,769.
-

2011

776,488.
6,915.
59,737.
238,950.
-

1,081,395.
154,449.
926,946.
628,826.
628,826.
0.0
452,569.
366,607.
85,054.
281,553.
69,518.
19,526.
18,389.
300,767.
6,656.
0.0
0.0
423,431.

2,031,256.
122,860.
1,908,396.
665,346.
665,346.
0.0
1,365,910.
371,234.
96,780.
274,454.
84,086.
24,641.
23,151.
979,875.
3,448.
97,388.
0.0
811,890.

2,058,465.
68,373.
1,990,092.
825,741.
825,741.
0.0
1,232,724.
504,719.
143,439.
361,280.
556,469.
23,603.
17,767.
811,662.
2,524.
0.0
0.0
1,300,575.

1,306,192.
0.0
425,420.
137,273.

2,017,138.
0.0
709,836.
214,759.

2,513,962.
87,500.
294,111.
287,500.

3,617,301.
62,500.
879,039.
262,500.

4,334,528.
122,832.
809,138.
322,832.

1.4
.88
29.48
.68
3.59
43.03

1.25
.92
27.82
.63
3.27
39.42

2.11
1.81
57.66
.37
3.6
58.15

2.11
1.21
47.95
.49
3.54
32.76

1.55
1.15
49.64
.4
2.24
40.11

.23
32.44
38.45
38.09
-

2.17 39.68
0.0
10.43
31.69

.24
38.15
47.17
46.73
12.88 49.9
0.0
12.88
33.46

.23
11.15
13.74
13.28

.18
27.6
33.08
31.96
10.03

.23
17.8
21.57
20.97
-

17.36
27.81
.79
3.77
30.53

43.33
48.24
1.28
12.53
45.52

46.68
39.43
1.37
10.39
53.75

Pak Datacom Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
239,015.
395,238.
239,015.
28,053.
0.0

351,365.
45,598.
0.0
75,210.
148,502.
82,055.
258,728.
0.0
258,728.
0.0

0.0
0.0
331,652.
71,280.
71,280.
0.0
260,372.

513,770.
510,963.
2,807.
240,991.

272,779.
123,354.
123,354.
316.
164,037.
48,834.
0.0
0.0

331,652.
0.0
115,203.
0.0
1.04
.06
14.64
.87
1.36
46.91

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.78
29.28
55.6
55.6

31.93
0.0
16.16
46.53
420

Financial Statement Analysis of Non Financial Sector

2007
286,318.
493,512.
286,318.
51,042.
0.0
390,527.
63,498.
0.0
97,023.
129,747.
100,259.
275,069.
0.0
275,069.
0.0
0.0
0.0
401,776.
78,408.
78,408.
0.0
323,368.
-

(Thousand Rupees)
2008
2009
2010
2011
357,553.
405,267.
397,197.
372,628.
0.0
0.0
0.0
614,942.
690,083.
753,865.
794,302.
357,553.
405,267.
397,197.
370,158.
69,996.
75,594.
75,350.
424,144.
0.0
0.0
0.0
2,470.
0.0
0.0
0.0
0.0
0.0
0.0
475,435.
595,909.
683,000.
597,918.
82,415.
127,313.
151,516.
74,267.
0.0
0.0
0.0
0.0
172,459.
101,599.
85,151.
98,288.
96,421.
234,020.
207,620.
203,680.
124,140.
132,977.
238,713.
221,683.
356,485.
340,265.
322,734.
246,561.
0.0
0.0
0.0
0.0
356,485.
340,265.
322,734.
246,561.
0.0
69,637.
69,822.
69,801.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
13,525.
15,958.
21,518.
0.0
56,112.
53,864.
48,283.
476,503.
591,274.
687,641.
654,184.
78,408.
78,408.
78,408.
78,408.
78,408.
78,408.
78,408.
78,408.
0.0
0.0
0.0
0.0
398,095.
512,866.
609,233.
575,776.
12,042.
12,042.
12,042.
500,824.
597,191.
563,734.
0.0
0.0
0.0

523,473.
523,473.
0.0
301,001.
-

690,469.
688,906.
1,563.
420,771.
-

222,472.
85,717.
-

269,698.
126,455.
-

85,717.
-

126,455.
-

265.

300.
-

157,947.
52,464.
39,204.
0.0
-

2011

175,279.
43,000.
31,363.
0.0
-

1,042,099.
1,042,099.
0.0
748,259.
208,523.
539,736.
293,840.
66,198.
1,349.
64,849.
136,596.
583.
0.0
248,947.
88,699.
54,886.
0.0
342,817.

401,776.
0.0
66,279.
0.0

476,503.
0.0
100,916.
0.0

660,911.
0.0
105,362.
0.0

1.06
.05
18.53
.77
1.42
57.5

.99
.04
24.98
.83
1.33
60.94

1.36
.06
9.75
1.04
1.75
71.8

1,058,618.
1,058,618.
0.0
752,010.
200,229.
551,781.
306,608.
79,513.
1,150.
78,363.
161,010.
722.
0.0
249,542.
91,980.
62,726.
0.0
119,766.

675,119.
675,119.
0.0
589,823.
0.0
589,823.
85,296.
77,228.
1,110.
76,118.
147,920.
1,193.
0.0
28,946.
15,711.
19,602.
0.0
14,020.

757,463.
723,985.
0.0
0.0
94,836. -6367
0.0
0.0
1.38
.07
8.04
.98
2.12
71.04

1.53
.18
14.56
.7
2.43
87.37

.68
24.93
43.07
43.07
2.69
-

.75
23.22
39.91
39.91
4.22
-

30.17
0.0
13.45
51.24

.69
27.15
46.63
43.77
2.92

.57
23.98
39.02
35.19
2.51

25.39
0.0
16.87
60.77

.48
2.82
4.31
3.91
.68
-

23.89
.84
20.44
75.41

23.57
.31
20.1
87.7

4.29
.04
1.69
83.43

Pakistan Int. Container Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,444,995.
2,721,046.
2,384,036.
141,869.
60,959.

1,216,658.
756,442.
0.0
168,309.
1,276.
290,631.
702,543.
171,575.
530,968.
1,453,221.

0.0
1,453,221.
1,505,889.
938,008.
758,008.
180,000.
567,881.

1,707,760.
1,707,760.
0.0
1,067,086.

640,674.
143,836.
143,836.
88,963.
450,580.
8,600.
18,000.
0.0

2,959,110.
0.0
423,980.
171,575.
1.32
5.21
9.86
.47
1.73
62.48

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.43
14.53
33.21
17.75
24.55

26.38
0.0
5.83
19.87
421

2011

Financial Statement Analysis of Non Financial Sector

2007
3,042,511.
3,552,126.
3,004,720.
212,856.
37,791.
1,349,662.
380,540.
168,465.
137,846.
461,004.
201,807.
917,730.
227,768.
689,962.
1,665,905.
0.0
1,665,905.
1,808,538.
938,008.
758,008.
180,000.
870,530.
-

(Thousand Rupees)
2008
2009
2010
2011
4,004,667.
5,840,334.
5,949,032.
6,086,523.
1,031,764.
454,206.
516,901.
4,762,019.
5,769,763.
6,849,306.
7,435,539.
3,990,261.
4,724,746.
5,346,132.
5,434,610.
240,331.
281,039.
465,250.
514,490.
14,406.
251.
64,989.
51,307.
0.0
0.0
0.0
83,573.
83,705.
83,705.
1,749,615.
1,882,786.
2,355,973.
2,944,117.
390,458.
491,188.
1,023,176.
1,718,893.
0.0
253,915.
301,086.
340,791.
249,275.
388,046.
237,352.
227,340.
706,580.
559,847.
592,372.
548,004.
403,302.
189,790.
201,987.
109,089.
1,393,366.
1,097,705.
1,152,357.
1,266,718.
440,845.
0.0
519,782.
535,194.
952,521.
1,097,705.
632,575.
731,524.
2,041,118.
3,660,811.
3,444,855.
3,084,989.
2,656,028.
2,298,040.
1,852,896.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
34,928.
2,041,118.
1,004,783.
1,146,815.
1,197,165.
2,319,798.
2,964,604.
3,707,793.
4,678,933.
1,089,610.
1,089,610.
1,271,532.
1,271,532.
909,610.
1,089,610.
1,271,532.
1,271,532.
180,000.
0.0
0.0
0.0
1,230,188.
1,874,994.
2,436,261.
3,407,401.
0.0
0.0
0.0
1,874,994.
2,436,261.
3,407,401.
0.0
0.0

2,218,850.
2,218,850.
0.0
1,410,785.
-

3,194,529.
3,194,529.
0.0
1,868,933.
-

808,065.
175,664.
-

1,325,596.
471,765.
-

175,664.
-

471,765.
-

179,493.

200,369.
-

520,118.
10,931.
0.0
0.0
-

740,994.
141,264.
290,883.
0.0
-

4,564,256.
4,564,256.
0.0
2,494,840.
0.0
2,494,840.
2,069,416.
786,956.
1,633.
785,323.
325,649.
208,990.
206,054.
1,174,528.
20,546.
435,844.
0.0
1,712,714.

5,125,117.
5,125,117.
0.0
2,942,067.
0.0
2,942,067.
2,183,050.
583,223.
4,201.
579,022.
422,198.
185,857.
185,401.
1,510,777.
377,000.
508,618.
0.0
1,812,423.

6,123,776.
6,123,776.
0.0
3,524,660.
0.0
3,524,660.
2,599,116.
533,393.
3,517.
529,876.
609,572.
158,319.
158,319.
2,136,154.
723,513.
635,766.
0.0
2,055,933.

3,474,443.
0.0
509,187.
227,768.

4,360,916.
0.0
308,847.
440,845.

6,625,415.
2,656,028.
718,138.
2,656,028.

7,152,648.
2,298,040.
625,159.
2,817,822.

7,763,922.
1,852,896.
776,875.
2,388,090.

1.07
8.09
6.21
.51
1.47
63.58

.97
6.27
7.8
.56
1.26
58.5

1.31
4.58
8.5
.59
1.72
54.66

1.61
3.63
4.63
.62
2.04
57.4

1.97
2.59
3.71
.68
2.32
57.56

1.43
12.92
31.39
16.17

1.48
14.61
35.9
18.91
2.06

13.17
23.44
0.0
6.72
23.86

23.2
0.0
6.59
25.5

1.61
17.43
44.45
21.38
2.65
17.98
6.7
25.73
.36
10.59
27.21

1.24
18.85
45.28
21.93
2.23
17.02
9.15
29.48
.39
8.92
29.16

.93
24.64
50.94
28.64
2.22
17.97
14.49
34.88
.47
11.11
36.8

Pakistan International Airlines Corporation Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
79,062,437.
109,507,987.
78,964,162.
3,449,601.
98,275.

27,829,332.
5,459,924.
6,129,673.
4,949,592.
11,290,143.
44,102,589.
23,595,988.
20,506,601.
62,650,892.

13,246,970.
49,403,922.
138,288.
19,473,631.
19,473,631.
-19335343

76,435,189.
76,435,189.
74,723,265.

1,711,924.
10,205,552.
10,205,552.
5,275,360.
-12985271
382,743.

62,789,180.
13,246,970.
-13368014
36,842,958.
.38
6.9
8.02
.72
.63
97.76

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

771.96
-14.44
-197.35
-22.8

-16.99
0.0
-6.86
.07
422

2011

Financial Statement Analysis of Non Financial Sector

2007
95,600,626.
130,110,253.
95,497,151.
5,617,195.
103,475.
23,172,948.
1,975,459.
0.0
3,251,940.
5,012,778.
4,572,322.
8,360,449.
55,420,255.
31,016,062.
24,404,193.
74,284,837.
10,723,738.
63,561,099.
-10931518
20,878,074.
20,878,074.
0.0
0.0
-31809592
70,480,734.
70,480,734.
0.0
66,221,976.

0.0
-

4,258,758.
11,193,267.

11,193,267.

7,135,845.
-13070921
352,404.
0.0
0.0
0.0
0.0
-

2008
115,123,491.
158,440,614.
115,010,337.
8,015,110.
113,154.
24,546,376.
789,555.
0.0
5,757,849.
4,540,147.
13,458,825.
76,073,376.
43,105,449.
32,967,927.
96,926,214.
12,430,143.
84,496,071.
-33329723
21,423,014.
21,423,014.
0.0
-54752737
-

2009
187,916,288.
794,924.
213,621,855.
174,765,285.
10,679,473.
2,826,422.
89,981.
9,439,676.
21,276,576.
4,691,221.
4,017,865.
8,335,142.
144,060.
4,088,288.
70,022,689.
23,982,160.
46,040,529.
139,888,255.
33,300,378.
7,000,000.
19,592,320.
18,307,683.
61,687,874.
-718080
23,280,356.
23,272,856.
7,500.
-62865633
3,473,591.
-66339224
38,867,197.

(Thousand Rupees)
2010
159,206,297.
1,129,146.
190,907,308.
145,040,401.
7,278,499.
2,856,378.
141,144.
10,039,228.
23,131,594.
5,927,994.
3,873,673.
8,698,030.
847,453.
3,784,444.
93,743,316.
43,862,824.
49,880,492.
122,842,746.
21,454,413.
8,000,000.
17,457,280.
6,408,140.
69,522,913.
-34248171
25,774,948.
25,767,448.
7,500.
-81082544
3,725,414.
-84807958
21,059,425.

88,863,258. 103,250,358. 117,602,938.

88,863,258. 103,250,358. 117,602,938.
0.0
0.0
85,275,811. 85,023,610. 98,755,193.
85,023,610. 98,755,193.
0.0
3,587,447. 18,226,748. 18,847,745.
37,054,494. 20,967,308. 19,099,213.
6,124,229.
6,301,504.
37,054,494. 14,843,079. 12,797,709.
14,206,511. 14,958,414.
8,351,648.
9,604,550.
9,622,520.
9,027,091.
8,830,856.
-39987775
-11784791
-7584809
0.0
711,974.
1,533,057.
0.0
0.0
0.0
0.0
-1910730
4,889,493.

63,353,319. 63,596,491. 139,170,175. 88,594,575.

10,723,738. 12,430,143. 52,892,698. 38,911,693.
-13423325
-39987775
-12496765
-9117866
41,739,800. 55,535,592. 76,874,858. 82,774,517.
.21
10.12
7.11
.59
.42
93.96

.15
9.4
6.48
.64
.32
95.96

.19
9.3
8.07
.49
.3
82.35

.17
8.18
7.4
.64
.25
83.97

2011
159,248,372.
1,396,706.
195,784,213.
144,817,713.
8,275,280.
2,973,990.
86,088.
9,973,875.
20,819,068.
3,239,943.
3,895,832.
8,936,690.
594,749.
4,151,854.
106,993,507.
37,118,315.
69,875,192.
127,778,945.
36,633,808.
8,000,000.
10,925,653.
9,228,697.
62,990,787.
-54705012
28,779,674.
28,772,174.
7,500.
-106339275
3,582,443.
-109921718
22,854,589.

0.0

0.0

0.0
0.0

127,476,192.
127,476,192.
0.0
121,658,368.
121,658,368.
0.0
5,817,824.
22,714,119.
6,830,850.
15,883,269.
18,563,294.
10,487,413.
7,254,225.
-26858145
1,149,809.
0.0
0.0
-3947766
73,073,933.
47,559,461.
-28007954
84,677,776.
.12
8.23
7.01
.71
.19
95.44

-11.87
-11.58
242.21
-20.72
-

21.67 -18.55
0.0
-6.43
-5.24

-5.19
-30.95
180.69
-63.

-292.32
-6.76
69.22
-11.62

-6.32
-3.87
43.38
-6.66

25.7
-.31
-11.41
-.01
-5.37
-.31

30.36
.14
-6.45
.02
-3.54
-13.29

-45.
0.0
-18.67
-15.56

-4.29
-14.82
60.39
-33.23
-

32.72
-2.7
-21.07
-.02
-9.73
-19.01

Pakistan National Shipping Corporation.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
7,439,170.
8,882,423.
7,430,919.
1,104,188.
8,251.

6,160,521.
4,327,054.
209,936.
704,943.
918,588.
1,673,151.
258,557.
1,414,594.
474,021.

474,021.
11,452,519.
1,320,634.
1,320,634.
10,131,885.

7,924,614.
7,924,614.
6,255,047.

1,669,567.
529,321.
529,321.
75,647.
1,391,106.
328,140.
240,115.
120,058.

11,926,540.
822,851.
258,557.
3.13
.95
2.65
.58
3.68
78.93

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.19
9.75
12.7
12.04
4.43

17.55
0.0
8.05
86.72
423

Financial Statement Analysis of Non Financial Sector

2007
8,041,024.
8,758,583.
8,036,074.
1,257,675.
4,950.
8,350,578.
907,906.
0.0
444,341.
557,290.
6,040,632.
400,409.
1,898,097.
258,771.
1,639,326.
215,643.
0.0
0.0
215,643.
14,277,862.
1,320,634.
1,320,634.
0.0
0.0
12,957,228.
-

(Thousand Rupees)
2008
2009
2010
2011
1,010,823.
8,729,638. 15,694,447. 26,303,826.
347,599.
668,762.
257,703.
1,102,632.
912,445.
916,762.
1,337,075.
1,009,174.
801,558.
767,609.
1,150,549.
93,458.
41,567.
38,627.
91,703.
1,649.
0.0
0.0
1,581,131.
1,584,670. 19,224,674.
5,999,350. 12,673,406.
5,670,900.
12,603,513.
8,070,341.
2,826,872.
3,309,308.
3,394,350.
2,217,680.
1,307,961.
2,098,976.
0.0
22,622.
22,788.
20,499.
236,312.
369,276.
193,195.
272,125.
5,681,779.
5,108,614.
1,207,224.
471,900.
3,291,072.
352,149.
95,704.
445,808.
7,443,597.
9,763,834. 11,096,488. 14,802,251.
245,607.
0.0
0.0
1,079,763.
7,197,990.
9,763,834. 11,096,488. 13,722,488.
0.0
219,894.
291,288.
7,262,089.
0.0
0.0
5,929,277.
0.0
0.0
0.0
58,252.
50,194.
1,012,417.
0.0
0.0
320,395.
0.0
161,642.
241,094.
6,170,739.
6,816,251.
7,133,543.
7,548,794.
1,320,634.
1,320,634.
1,320,634.
1,320,634.
1,320,634.
1,320,634.
1,320,634.
1,320,634.
0.0
0.0
0.0
4,850,105.
4,814,590.
5,140,981.
5,565,343.
126,843.
126,843.
126,843.
4,687,747.
5,014,138.
5,438,500.
681,027.
671,928.
662,817.

9,089,124.
9,089,124.
0.0
6,495,702.

0.0
-

10,753,528.
10,753,528.
0.0
7,277,061.
-

2,593,422.
611,539.
-

3,476,467.
629,292.
-

611,539.
-

629,292.
-

77,353.
-

174,987.
-

2,848,056.
487,935.
198,095.
0.0
-

0.0

2011

3,487,161.
458,862.
409,397.
0.0
-

3,491,783.
3,491,783.
0.0
1,932,155.
0.0
1,932,155.
1,559,628.
637,029.
5,128.
631,901.
304,084.
48,446.
2,622.
1,698,302.
639,257.
198,095.
0.0
1,610,825.

2,077,947.
2,077,947.
0.0
1,351,580.
0.0
1,351,580.
726,367.
402,621.
4,871.
397,750.
352,287.
19,161.
2,877.
1,138,962.
422,073.
198,095.
0.0
5,699,609.

3,084,361.
3,084,361.

0.0

0.0

0.0

0.0

0.0
1,945,834.
0.0
1,945,834.
1,138,527.
293,085.
0.0
293,085.
78,505.
261,994.
570,884.
900,558.
169,921.
132,063.
0.0
2,442,141.

14,493,505.
0.0
2,162,026.
258,771.

6,170,739.
0.0
2,618,902.
245,607.

7,036,145.
58,252.
860,950.
58,252.

7,424,831.
50,194.
518,794.
50,194.

14,810,883.
6,941,694.
598,574.
8,021,457.

3.95
.85
6.13
.55
4.4
71.47

1.25
1.63
2.2
.79
1.69
67.67

.79
1.39
10.58
.21
.83
55.33

.24
.92
9.3
.11
.25
65.04

.19
8.49
8.82
.1
.22
63.09

.15
18.99
22.14
21.56
11.91
20.46 31.33
0.0
17.87
108.11

1.21
23.24
34.11
33.75
7.4

32.43
0.0
22.93
46.73

1.46
11.17
26.15
25.72
5.35
154.35
648.71
48.64
.16
8.02
51.61

1.6
6.45
16.33
15.75
3.62
91.19
396.89
54.81
.5
5.43
54.02

2.92
3.74
12.27
8.1
5.53
150.46
2.58
29.2
.11
5.53
57.16

Pakistan Telecommunication Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
93,090,976.
223,338,718.
89,042,100.
11,655,477.
4,048,876.

59,149,046.
22,598,785.
16,059,983.
7,118,002.
13,372,276.
35,139,623.
35,139,623.

117,100,399.
51,000,000.
51,000,000.
66,100,399.

72,684,431.
72,684,431.
17,370,056.

55,314,375.
27,916,857.
27,916,857.
336,401.
30,974,048.
10,327,852.

117,100,399.
20,646,196.

1.3
.46
22.1
.48
1.68
23.9

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.3
21.5
27.16
27.16

42.61
0.0
4.05
22.96
424

Financial Statement Analysis of Non Financial Sector

0.0

0.0
0.0
0.0
0.0

0.0
-

2007
90,032,106.
232,722,125.
86,801,364.
12,345,628.
3,230,742.
62,788,754.
33,283,660.
3,879,206.
11,411,412.
7,411,776.
6,802,700.
41,907,596.
2,145,948.
39,761,648.
0.0
0.0
0.0
110,913,264.
51,000,000.
51,000,000.
0.0
59,913,264.
-

2008
138,405,485.
263,052,209.
134,650,828.
16,142,494.
3,754,657.
52,651,550.
21,240,745.
190,883.
12,610,927.
3,737,634.
14,871,361.
79,975,667.
3,807,390.
76,168,277.
9,100,949.
0.0
9,100,949.
101,980,419.
51,000,000.
51,000,000.
0.0
50,980,419.
-

2009
149,513,334.
13,297,795.
321,339,316.
131,909,917.
19,006,676.
3,865,149.
108,095.
332,378.
65,626,552.
21,185,566.
470,673.
10,875,750.
21,017,790.
12,076,773.
62,790,693.
0.0
62,790,693.
47,096,259.
9,000,000.
0.0
0.0
14,252,785.
23,843,474.
105,252,934.
51,000,000.
51,000,000.
0.0
54,252,934.
0.0
54,252,934.
0.0

(Thousand Rupees)
2010
2011
156,245,937. 160,741,057.
17,959,087. 21,591,349.
335,810,870. 357,309,190.
134,123,749. 134,582,399.
21,162,250. 21,408,114.
3,716,981.
3,906,996.
108,910.
107,553.
337,210.
552,760.
51,824,385. 51,254,315.
10,072,560. 16,797,906.
385,199.
577,434.
10,385,233.
9,434,885.
13,493,865.
2,642,378.
17,487,528. 21,801,712.
47,128,440. 52,204,553.
0.0
9,032,075.
47,128,440. 43,172,478.
52,867,124. 52,204,849.
13,000,000. 11,083,439.
0.0
0.0
15,676,877.
5,934,952.
24,190,247. 35,186,458.
108,074,758. 107,585,970.
51,000,000. 51,000,000.
51,000,000. 51,000,000.
0.0
57,074,758. 56,585,970.
0.0
30,590.
57,074,758. 56,555,380.
0.0
-

86,252,033.
86,252,033.
0.0
37,277,838.

80,835,886.
80,835,886.
0.0
39,727,012.

92,720,381.
86,613,483.
6,106,898.
55,154,403.
55,154,403.
0.0
37,565,978.
21,485,010.
7,996,056.
13,488,954.
11,215,209.
4,473,429.
1,319,266.
16,739,109.
3,080,732.
7,650,000.
0.0
37,630,326.

98,905,765. 104,590,337.
91,958,760. 99,387,711.
6,947,005.
5,202,626.
61,995,745. 68,684,962.
61,995,745. 68,684,962.
0.0
36,910,020. 35,905,375.
20,257,770. 21,807,847.
7,744,153.
7,515,175.
12,513,617. 14,292,672.
12,566,801. 15,587,834.
3,293,496.
2,774,014.
1,602,130.
2,360,860.
18,635,765. 15,782,998.
3,451,037.
1,989,923.
8,925,000.
8,925,000.
0.0
31,179,508. 31,130,323.

0.0
-

48,974,195.
26,851,475.

41,108,874.
44,666,085.
-

26,851,475.
-

25,722,225.
0.0
10,200,000.
0.0

0.0
0.0

44,666,085.
-

1,880,029.

2011

2,661,347.
-2502766
461,021.
0.0
0.0
-

110,913,264. 111,081,368. 152,349,193. 160,941,882. 159,790,819.

0.0
0.0
9,000,000. 13,000,000. 11,083,439.
15,522,225. -2963787
6,008,377.
6,259,728.
4,868,075.
0.0
2,145,948.
3,807,390.
9,000,000. 13,000,000. 20,115,514.
0.0

1.24
2.18
13.23
.56
1.5
43.22

.47
3.29
15.6
.42
.66
49.15

.85
4.82
11.73
.43
1.05
59.48

.72
3.33
10.5
.48
1.1
62.68

.55
2.65
9.02
.49
.98
65.67

0.0
0.0

0.0

0.0

.38
16.86
22.56
22.56
2.52 22.23
29.82
0.0
5.04
21.75

.87
-1.46
-2.35
-2.25
423.48
-3.1
0.0
-.58
20.

1.04
8.24
16.15
12.71
1.79
197.
13.69
18.05
.34
2.68
20.64

.93
8.81
17.47
11.9
1.7
256.77
12.63
18.84
.31
2.98
21.19

.97
7.51
14.64
9.84
1.55
181.13
7.69
15.09
.3
2.7
21.1

Southern Networks Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
270,049.
301,609.
221,860.
38,606.
48,189.
109,718.
1,253.
15,573.
32,340.
0.0
60,552.
115,729.
58,612.
57,117.
21,306.
0.0
21,306.
242,732.
499,755.
499,755.
0.0
-257023
95,585.
95,585.
0.0
89,829.
5,756.
115,682.
115,682.
13,868.
-112648
501.
0.0
0.0
264,038.
0.0
-113149
58,612.
.29
14.51
33.83
.25
.95
93.98

7.Debt equity ratio [(C+D) to E]

.56
8.Return on assets [F7 as % of avg.(A+B)]
-23.27
9.Return of equity (F7 as % of avg. E)
-37.49
10.Return on capital employed ( F7 as % of avg. G1)
-32.32
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
6.14
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
-117.85
15.Operating cash flow to debt ratio [F11 to (C+D)]
0.0
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
-2.26
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
4.86
425

2011

Financial Statement Analysis of Non Financial Sector

2007
2008
225,836.
194,088.
301,134.
302,692.
189,314.
162,785.
32,783.
28,134.
36,522.
31,303.
45,754.
29,727.
1,939.
1,022.
5,914.
4,019.
16,247.
6,888.
0.0
0.0
21,654.
17,798.
181,148.
221,100.
66,205.
48,794.
114,943.
172,306.
15,222.
8,424.
0.0
0.0
15,222.
8,424.
75,220. -5709
499,755.
499,755.
499,755.
499,755.
0.0
0.0
-424535
-505464
50,113.
50,113.
0.0
50,096.

2009
170,735.
3,891.
299,853.
136,055.
20,487.
26,402.
4,387.
0.0
13,412.
1,150.
4,852.
1,028.
0.0
6,382.
180,515.
4,627.
175,888.
28,869.
0.0
27,000.
0.0
1,869.
0.0
-25237
499,775.
499,775.
0.0
-525012
27,643.
-552655
0.0

55,367.
55,367.
0.0
76,343.

58,796.
58,796.
0.0
65,429.
14,163.
51,266.

17. -20976
114,007.
30,962.

30,962.

60,655.

30,536.

-167225

-80642
286.
0.0
0.0

286.
0.0
0.0

90,442.
2,715.
0.0
0.0
-167511
-80928
66,205.
48,794.
.1
121.04
32.42
.18
.25
99.97

.04
55.15
12.44
.25
.13
137.89

53,736.
53,736.
0.0
63,373.
13,838.
49,535.

60,161.
60,161.
0.0
69,295.
30,701.
38,594.

-6633
-

114,007.

(Thousand Rupees)
2010
2011
145,317.
130,974.
3,891.
0.0
299,087.
311,023.
115,540.
109,208.
23,990.
19,132.
21,502.
17,349.
4,384.
4,417.
0.0
0.0
11,620.
24,737.
564.
1,582.
2,035.
8,883.
1,798.
3,798.
0.0
0.0
7,223.
10,474.
143,620.
94,485.
0.0
0.0
143,620.
94,485.
80,029.
148,386.
0.0
0.0
76,197.
143,548.
0.0
0.0
3,832.
4,838.
0.0
0.0
-66712
-87160
499,775.
499,775.
499,775.
499,775.
0.0
0.0
-566487
-586935
32,703.
86,439.
-599190
-673374
0.0
0.0

-9637
-9134
26,108.
26,702.
30,047.
16,381.
18,058.
19,775.
9,727.
8,644.
10,272.
16,825.
17,394.
20,034.
344.
7,057.
32.
242.
36.
0.0
-19547
-41197
-19819
6,842.
14,419.
6,937.
0.0
0.0
0.0
0.0
0.0
0.0
15,361. -3849
21,419.
3,632.
0.0

13,317.
61,226.
0.0
0.0
-26389
-55616
-26756
4,627.
0.0
0.0
.01
.59
1.75
.32
.07
111.28

.02
13.13
3.35
.34
.08
117.93

.06
.05
6.31
.39
.26
115.18

2.61
-51.35
-105.19
-94.35

-40.2
-32.56
-232.03
-173.13

8.47

13.78

-333.7
0.0
-3.35
1.51

-145.65
0.0
-1.62
-.11

-8.3
-9.58
126.33
-615.94
-

-3.35
-24.16
89.61
-486.13
-

12.12
-79.77
-33.25
.07
-.53
-.5

26.41
-1,143.36 -76.67
-.02
-1.11
-1.33

-2.79
-12.68
25.76
-53.17
6.77
-32.94
.09
-.54
-1.74

TRG Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
10,333.
23,288.
10,251.
7,310.
82.

3,650,768.
50,388.

3,558,355.
42,025.
1,481,396.
1,406,143.
75,253.
3,069.

3,069.
2,176,636.
2,408,692.
2,408,692.
-232056

29,340.
29,340.
19,324.

10,016.
6,919.
6,919.
139,019.
-135912

2,179,705.
-135912
1,406,143.
2.44
473.82
0.0
.01
2.46
65.86

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.68
-4.16
-6.05
-6.04

-463.23
0.0
-.56
9.04
426

Financial Statement Analysis of Non Financial Sector

0.0
0.0

0.0
-

0.0
-

2007
2,764,967.
1,491,603.
752,482.
276,685.
2,012,485.
2,885,180.
847,015.
4,869.
1,223,827.
9,259.
800,210.
1,515,181.
735,454.
779,727.
83,050.
0.0
83,050.
4,051,916.
5,193,902.
3,853,907.
1,339,995.
-1141986
-

791.
23,173.
791.
2,263.
0.0
1,499,648.
2,176.
0.0
2,424.
1,474,704.
20,344.
35,589.
0.0
35,589.
0.0
0.0
0.0
1,464,850.
3,853,907.
3,853,907.
0.0
-2389057
-

8,722,720.
8,722,720.
0.0
6,157,292.

0.0
-

2008

8,841,513.
8,841,513.
0.0
7,949,309.
-

2,565,428.
3,015,995.
-

892,204.
3,263,802.
-

3,015,995.
-

3,263,802.
-

170,298.
263,823.
-574344
-2118093
0.0
20,716.
4,124.
0.0
0.0
0.0
0.0
0.0
0.0
-

0.0

2009
3,694,825.
12,255.
2,622,996.
996,265.
359,558.
2,610,075.
0.0
76,230.
2,561,674.
321,112.
10,550.
1,773,993.
0.0
456,019.
5,497,622.
973,618.
4,524,004.
624,025.
84,661.
296,976.
0.0
7,669.
234,719.
134,852.
3,853,907.
3,853,907.
0.0
-3719055
1,037,607.
-4756662
0.0

2011

(Thousand Rupees)
2010
2011
2,257,231.
1,928,827.
52,904.
96,801.
2,492,618.
2,049,468.
639,769.
472,320.
364,466.
309,015.
1,397,167.
1,232,525.
60,461.
106,930.
127,181.
3,399,636.
2,608,067.
542,563.
464,415.
12,388.
11,292.
1,662,413.
1,772,833.
0.0
1,182,272.
359,527.
6,092,883.
5,804,882.
1,024,789.
1,069,166.
5,068,094.
4,735,716.
420,207.
453,164.
139,824.
225,320.
73,926.
21,500.
0.0
8,791.
14,709.
197,666.
191,635.
-856223
-1721152
3,853,907.
3,853,907.
3,853,907.
3,853,907.
0.0
-4710130
-5575059
959,211.
808,100.
-5669341
-6383159
0.0
-

10,378,260.
9,494,946. 10,218,657.
10,378,260.
9,494,946. 10,218,657.
0.0
0.0
8,672,789.
7,603,558.
8,393,282.
79,445.
51,605.
42,329.
8,593,344.
7,551,953.
8,350,953.
1,705,471.
1,891,388.
1,825,375.
3,416,532.
3,747,993.
2,858,842.
0.0
0.0
3,416,532.
3,747,993.
2,858,842.
8,535,029.
7,437,149.
8,201,913.
258,844.
204,323.
195,434.
191,522.
187,916.
181,568.
-1915073
-1596015
-1070482
11,930.
26,043.
26,320.
3,854.
0.0
0.0
0.0
-305740
-83486
-1043409

-1267988
4,134,966.
1,464,850.
758,877. -436016
0.0
0.0
84,661.
139,824.
225,320.
-595060
-2122217
-1930857
-1622058
-1096802
735,454.
0.0
1,058,279.
1,164,613.
1,294,486.
1.37
1.95
14.03
1.54
1.9
70.59

41.57
2.98
.03
5.89
42.14
89.91

.38
2.49
17.09
1.66
.47
83.57

.36
2.15
17.51
1.68
.56
80.08

.39
1.91
17.35
2.25
.45
82.14

0.0

0.0

0.0

0.0

0.0

0.0
0.0

.39
-12.34
-18.44
-18.19
-

1,791.48 -6.58
0.0
-1.54
10.51

.02
-59.24
-76.79
-75.65

-23.96
0.0
-5.51
3.8

45.4
-49.38
-239.43
-172.24
-500.01 983.72
-9.
-18.45
-.05
-5.
.35

-7.61
-26.79
442.49
-988.67

-3.64
-21.
83.07
125.64

766.46
-7.49
-16.81
-.01
-4.21
-2.22

904.95
-4.9
-10.48
-.17
-2.85
-4.47

Telecard Ltd.
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
7,813,223.
5,757,483.
4,564,313.
468,398.
3,248,910.

3,451,071.
1,833,593.
14,487.
166,131.
340,537.
1,096,323.
5,324,194.
935,189.
4,389,005.
2,268,874.

2,099,041.
169,833.
3,671,226.
3,000,000.
3,000,000.
671,226.

3,034,189.
3,034,189.
2,412,725.

621,464.
510,378.
510,378.
419,388.
-93289
12,802.

5,940,100.
2,099,041.
-106091
3,034,230.
.44
13.82
5.48
.27
.65
79.52

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.07
-.82
-2.53
-1.5
209.44
-3.07
0.0
-.35
12.24
427

Financial Statement Analysis of Non Financial Sector

2007
7,820,628.
6,417,148.
4,601,312.
610,302.
3,219,316.
1,783,820.
130,191.
13,130.
203,538.
0.0
1,436,961.
4,056,412.
665,830.
3,390,582.
2,305,130.
1,648,801.
656,329.
3,242,906.
3,000,000.
3,000,000.
0.0
0.0
242,906.
-

(Thousand Rupees)
2008
2009
2010
2011
8,408,998.
6,663,767.
5,348,485.
4,760,895.
535,476.
544,525.
546,580.
6,293,185.
6,466,698.
6,511,884.
6,632,498.
3,824,829.
2,780,833.
2,095,152.
1,681,843.
664,504.
786,798.
734,078.
533,923.
4,584,169.
2,900,823.
2,611,521.
2,429,939.
0.0
0.0
446,635.
97,287.
102,533.
1,987,030.
2,946,006.
5,196,242.
4,552,780.
35,436.
8,772.
82,541.
16,926.
10,220.
8,857.
8,836.
862.
325,894.
723,661.
1,057,917.
448,850.
409,722.
75,555.
9,571.
31,799.
1,205,758.
2,129,161.
4,037,377.
4,054,343.
5,854,183.
3,855,443.
3,199,594.
2,605,835.
937,405.
407,783.
269,771.
980,462.
4,916,778.
3,447,660.
2,929,823.
1,625,373.
1,805,099.
2,903,898.
3,670,554.
2,973,465.
464,000.
502,000.
201,625.
0.0
0.0
1,128,960.
0.0
0.0
39,361.
23,139.
228.
676,139.
2,400,537.
3,145,415.
2,771,612.
2,736,746.
2,850,432.
3,674,579.
3,734,375.
3,000,000.
3,000,000.
3,000,000.
3,000,000.
3,000,000.
3,000,000.
3,000,000.
3,000,000.
0.0
0.0
0.0
-263254
-149568
674,579.
734,375.
0.0
0.0
-149568
674,579.
734,375.
0.0
0.0

2,265,329.
2,265,329.
0.0
2,258,703.

0.0
-

2,848,937.
2,848,937.
0.0
2,801,068.
-

6,626.
565,822.
-

47,869.
752,900.
-

565,822.
-

752,900.
-

412,482.

478,281.
-532301
-709147
10,738.
26,622.
0.0
0.0
0.0
0.0
0.0
0.0
5,548,036.
4,541,845.
1,648,801.
1,128,960.
-543039
-735769
2,314,631.
2,066,365.
.08
18.21
8.98
.24
.44
99.71

2011

.13
16.79
11.44
.27
.34
98.32

4,406,184.
3,664,611.
4,406,184.
3,664,611.
0.0
0.0
2,944,401.
2,700,495.
2,944,401.
2,700,495.
0.0
0.0
1,461,783.
964,116.
761,312.
674,627.
0.0
0.0
761,312.
674,627.
339,008.
274,549.
594,935.
535,240.
6,701.
349,429.
176,730.
1,367,636.
2,998.
44,761.
3,000.
0.0
0.0
0.0
1,004,752. -1045010

2,589,586.
2,589,586.

5,754,330.
464,000.
170,732.
871,783.

7,345,133.
502,000.
1,322,875.
771,771.

6,707,840.
201,625.
102,718.
1,182,087.

.21
13.5
16.42
.46
.76
66.82

.36
14.61
28.87
.35
1.62
73.69

.19
10.72
17.33
.28
1.75
86.17

0.0

0.0
0.0

0.0
0.0
0.0

0.0
2,231,540.
2,231,540.
0.0
358,046.
563,833.
0.0
563,833.
335,614.
277,682.
272,460.
133,384.
30,666.
0.0
0.0
441,809.

1.96
-5.1
-15.4
-9.27
-

2.8
-7.09
-23.72
-14.06
-

172.53
-

278.76
-

-23.5
0.0
-1.81
10.81

-24.89
0.0
-2.45
9.12

2.37
1.77
6.33
3.43
57.91 497.48
27.37
4.01
.15
.58
9.5

1.87
13.57
41.92
20.88

1.49
1.34
3.6
1.9

414.74
4.91
37.32
-.15
4.41
12.25

3,004.16
1.49
5.15
.08
.34
12.45

Wateen Telecom Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

428

2011

Financial Statement Analysis of Non Financial Sector

2009
18,290,717.
3,513,632.
15,510,200.
14,062,017.
941,294.
336,907.

(Thousand Rupees)
2010
2011
21,566,135. 23,520,173.
3,883,565.
2,304,106.
20,114,318. 23,840,137.
17,053,114. 18,755,581.
1,630,824.
2,046,163.
310,843.
299,775.
0.0
0.0
318,613.
2,160,711.
8,783,416.
4,644,087.
2,014,726.
632,667.
8,091.
7,341.
4,060,687.
2,041,152.
0.0
0.0
2,699,912.
1,962,927.
24,408,286. 22,765,384.
17,016,005. 16,455,433.
7,392,281.
6,309,951.
1,218,962.
6,131,283.
0.0
0.0
0.0
4,918,227.
0.0
0.0
60,059.
10,752.
1,158,903.
1,202,304.
4,722,303. -732407
6,174,746.
6,174,746.
6,174,746.
6,174,746.
0.0
0.0
-1452443
-6907153
206,999. -26567
-1659442
-6880586
0.0
0.0

2007
-

2008
-

16,184,766.
16,184,766.

321,128.

8,608,482.
7,007,010.
8,608,482.
7,007,010.
0.0
0.0
6,445,974.
5,853,881.
6,445,974.
5,853,881.
0.0
0.0
2,162,508.
1,153,129.
3,488,542.
5,959,491.
20,486.
13,935.
3,468,056.
5,945,556.
984,910.
1,119,294.
1,951,237.
2,346,742.
1,766,193.
1,849,037.
-3022099
-7093743
11,404.
2,821.
0.0
0.0
0.0
0.0
1,914,579. -1054183

15,666,728.
6,155,733.
1,636,602.
7,621,898.

5,941,265.
5,398,876.
0.0
0.0
-3033503
-7096564
17,016,005. 16,455,433.

.39
3.51
22.99
.62
.75
68.15

0.0
378,161.
7,983,764.
397,192.
158,864.
3,720,786.
0.0
3,706,922.
10,607,753.
1,466,165.
9,141,588.
10,899,317.
6,155,733.
0.0
0.0
48,592.
4,694,992.
4,767,411.
2,087,373.
2,087,373.
0.0
2,680,038.
179,500.
2,500,538.
0.0

0.0
11,029,489.
11,029,489.
0.0
5,155,277.
3,097,524.
17,307.
3,080,217.
1,219,451.
568,393.
889,654.
1,680,741.
44,139.
0.0
0.0

.25
22.67
47.17
.28
.36
74.88

.12
33.49
29.13
.25
.2
83.54

4.51
6.4
35.25
10.73

5.43
-10.67
-63.69
-27.97
-

101.88
2.89
10.38
.01
7.84
22.84

-39.45
-24.25
-355.59
-125.11
-

1,063.96
-.71
-35.11
.07
-4.91
7.65

954.5
-2.84
-101.24
-.04
-11.49
-1.19

Worldcall Telecom Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
11,697,499.
7,384,099.
6,860,685.
501,142.
4,836,814.

4,226,410.
1,452,789.
21,931.
701,434.
941,248.
1,109,008.
3,379,975.
995,969.
2,384,006.
1,244,179.

49,909.
1,194,270.
11,299,755.
6,539,658.
6,539,658.
0.0
4,760,097.

5,033,763.
5,033,763.
0.0
3,351,207.

1,682,556.
1,090,851.
1,090,851.
179,092.
1,182,220.
0.0
0.0
0.0

12,543,934.
49,909.
1,182,220.
1,045,878.
.92
3.56
13.93
.32
1.25
66.57

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.41
10.8
16.85
14.75
229.53
23.49
0.0
1.81
17.28
429

Financial Statement Analysis of Non Financial Sector

2007
14,200,689.
10,738,499.
9,496,190.
726,340.
4,704,499.
3,182,063.
560,575.
35,187.
899,052.
629,699.
1,057,550.
4,114,001.
1,276,779.
2,837,222.
1,214,345.
342,855.
871,490.
12,054,406.
7,520,607.
7,520,607.
0.0
4,533,799.
-

(Thousand Rupees)
2008
2009
2010
2011
15,888,289. 18,673,786. 18,371,831. 19,946,650.
1,650,854.
751,378.
650,986.
12,988,982. 15,508,778. 17,891,529. 19,848,915.
10,879,966. 12,110,704. 12,795,044. 13,527,048.
891,769.
1,139,913.
1,414,248.
1,224,954.
5,008,323.
4,767,265.
4,606,312.
5,183,628.
76,162.
89,900.
146,074.
68,801.
129,197.
438,914.
3,496,659.
4,142,091.
3,634,441.
5,582,845.
849,040.
336,480.
183,960.
327,028.
90,868.
182,105.
192,917.
201,901.
900,712.
2,116,744.
2,016,418.
3,252,683.
702,408.
378,439.
310,472.
114,489.
953,631.
1,128,323.
930,674.
1,686,744.
3,415,568.
5,309,977.
8,437,709.
8,944,402.
390,323.
0.0
200,000.
1,097,876.
3,025,245.
5,309,977.
8,237,709.
7,846,526.
3,607,173.
6,126,847.
3,338,589.
6,234,344.
18,542.
15,962.
89,471.
0.0
0.0
0.0
3,237,470.
3,364,861.
2,166,079.
1,081,213.
175,942.
226,979.
300,075.
369,703.
2,567,502.
929,569.
4,763,585.
12,362,207. 11,379,053. 10,229,974. 10,350,749.
8,605,716.
8,605,716.
8,605,716.
8,605,716.
8,605,716.
8,605,716.
8,605,716.
8,605,716.
0.0
0.0
0.0
0.0
3,756,491.
2,441,763.
1,285,898.
1,401,788.
766,860.
764,787.
595,312.
1,674,903.
521,111.
806,476.
331,574.
338,360.
343,245.

4,678,913.
4,678,913.
0.0
2,996,702.
-

4,814,024.
4,814,024.
0.0
3,160,996.

15,969,380. 17,505,900. 13,568,563.

3,237,470.
3,383,403.
2,182,041.
-1564081
20,856. -646096
3,627,793.
3,383,403.
2,382,041.

16,585,093.
1,170,684.
20,704.
2,268,560.

1,253,154.
313,466.

461,173.
-

710,995.
334.
0.0
0.0
-

8,001,013.
8,001,013.
0.0
6,012,774.
3,773,351.
2,239,423.
1,988,239.
1,460,237.
50,940.
1,409,297.
717,296.
714,654.
610,342.
100,837.
80,133.
0.0
0.0
655,114.

1,653,028.
1,253,154.

1,093,458.
-

8,408,275.
7,464,404.
8,408,275.
7,464,404.
0.0
0.0
7,036,603.
6,615,984.
5,266,850.
4,222,860.
1,769,753.
2,393,124.
1,371,672.
848,420.
1,356,317.
1,610,041.
109,314.
158,112.
1,247,003.
1,451,929.
626,012.
699,240.
523,025.
743,413.
371,842.
689,424.
-623523
-1511453
22,573.
52,628.
0.0
0.0
0.0
0.0
1,535,818. 14,888,783.

1,682,211.
1,093,458.

43,446.
22,590.
0.0
0.0
-

13,268,751.
342,855.
710,661.
1,619,634.
.51
6.7
19.21
.27
.77
64.05

2011

.72
9.58
18.71
.25
1.02
65.66

.53
6.22
25.17
.37
.78
83.69

.3
9.96
27.01
.34
.43
88.63

.41
8.93
40.65
.31
.62
75.15

.44
4.27
6.09
5.51
-

.57
.24
.36
.3
-

132.97
-

1.15
-6.74
-13.99
-9.73

46.17
-.68
-7.42
.13
-.75
13.22

38.69
-1.19
-20.25
1.26
-1.82
11.89

52.98

15.2
0.0
.94
16.03

1.01
-2.96
-5.25
-3.73

.9
0.0
.02
14.37

1.47
.42
.98
.67
-

39.63
1.17
1.26
.04
.02
12.03

COKE & REFINED PETROLEUM

PRODUCTS

430

EUM

Coke and Refined Petroleum Products - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
43,353,483.
75,019,518.
43,025,889.
4,413,841.
327,594.

203,019,210.
46,757,220.
56,037,533.
43,809,138.
22,826,355.
33,588,964.
139,908,824.
15,885,426.
124,023,398.
6,117,223.

535,698.
5,581,525.
100,346,646.
15,205,041.
15,204,887.
154.
85,141,605.

855,252,005.
833,677,688.
21,574,317.
789,803,474.

65,448,531.
16,175,865.
16,175,865.
2,524,122.
54,579,548.
17,760,686.
15,421,728.
1,312,665.

106,463,869.
535,698.
21,397,134.
16,421,124.
.81
.3
5.12
3.47
1.45
92.35

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.46
25.98
60.31
58.06
2.39
15.26
6.38
0.0
24.22
66.
432

Financial Statement Analysis of Non Financial Sector

2009
132,829,786.
27,165,270.
97,488,491.
49,810,306.
5,662,806.
585,465.
33,740,952.
21,527,793.
345,051,884.
37,239,112.
83,988,397.
173,064,466.
13,248,309.
37,511,600.
294,254,425.
32,958,463.
261,295,962.
25,692,600.
5,534,040.
4,023,101.
0.0
3,156,809.
12,978,650.
157,934,645.
19,563,775.
19,563,775.
0.0
132,362,778.
12,464,644.
119,898,134.
6,008,092.

2011

(Thousand Rupees)
2010
2011
144,406,139. 177,853,737.
25,301,531. 14,792,079.
117,578,196. 150,650,864.
63,435,599. 88,336,659.
7,266,862.
8,745,505.
2,130,061.
1,869,776.
35,948,361. 53,280,143.
17,590,587. 19,575,080.
442,772,415. 517,775,290.
39,387,296. 30,612,660.
102,761,119. 161,993,604.
230,217,263. 228,740,814.
30,410,502. 25,094,448.
39,996,235. 71,333,764.
368,372,136. 421,430,233.
26,312,262. 34,179,067.
342,059,874. 387,251,166.
28,905,869. 27,741,721.
3,378,332.
1,608,586.
5,000,944.
3,513,495.
4,151,289.
17,013,098. 21,981,846.
189,900,549. 246,457,073.
21,223,467. 29,187,842.
21,223,467. 29,187,842.
0.0
159,748,937. 199,449,925.
5,670,175.
7,054,707.
154,078,762. 192,395,218.
8,928,145. 17,819,306.

2007
51,533,745.
86,763,890.
51,184,295.
4,549,586.
349,450.
231,547,459.
34,223,708.
61,516,942.
50,252,169.
45,953,272.
39,601,368.
159,829,104.
17,542,891.
142,286,213.
1,521,288.
321,396.
1,199,892.
121,730,812.
15,478,346.
15,478,346.
0.0
106,252,466.
-

2008
62,476,965.
106,336,739.
62,141,118.
5,285,961.
335,847.
365,829,239.
66,825,396.
110,890,572.
90,711,066.
55,532,698.
41,869,507.
274,564,736.
26,543,107.
248,021,629.
1,013,258.
107,094.
906,164.
152,728,210.
18,176,971.
18,176,971.
0.0
134,551,239.
-

934,605,000.
909,238,404.
25,366,596.
873,628,110.
60,976,890.
17,369,070.
17,369,070.
3,071,668.
48,812,157.
15,633,490.
11,541,363.
1,041,271.
-

1,192,132,4341,215,005,1271,417,587,1241,653,348,258
1,152,916,9051,159,632,8371,346,760,6861,568,927,161
39,215,529. 55,372,290. 70,826,438. 84,421,097.
1,101,005,6621,146,153,1311,321,100,1301,523,810,310
358,667,810. 385,253,720. 497,226,820.
787,485,321. 935,846,410. 1,026,583,490
91,126,772. 68,851,996. 96,486,994. 129,537,948.
23,604,031. 28,470,867. 27,908,506. 32,698,019.
8,531,877. 10,364,333. 11,627,943.
23,604,031. 19,938,990. 17,544,173. 21,070,076.
11,069,933. 13,987,071. 16,011,185.
6,127,018. 21,043,779. 16,032,874. 16,639,899.
6,555,112.
3,801,725.
5,093,274.
71,666,527. 34,027,344. 70,887,754. 101,662,397.
25,551,864. 18,552,394. 20,162,493. 30,803,121.
23,991,105. 20,603,296. 20,515,728. 29,424,944.
1,608,138.
1,659,721.
2,106,860.
1,366,213.
-6220935
51,984,817. 30,218,114.

123,252,100. 153,741,468. 183,627,245. 218,806,418. 274,198,794.

321,396.
107,094.
5,534,040.
3,378,332.
1,608,586.
21,637,304. 22,123,558. -5128346
30,209,533. 41,434,332.
17,864,287. 26,650,201. 38,492,503. 29,690,594. 35,787,653.
.82
.33
5.38
3.3
1.45
93.48

.78
.51
7.61
2.78
1.33
92.36

.76
1.73
14.24
2.54
1.17
94.33

.81
1.13
16.24
2.41
1.2
93.19

.67
1.01
13.84
2.38
1.23
92.17

0.0

1.33
18.44
43.96
42.5
2.87
15.19
-

1.8
20.15
52.22
51.75
1.92
10.75
-

5.22
0.0
21.44
78.65

6.01
0.0
25.37
84.02

2.03
7.51
21.91
20.17
.75
14.47
6.19
2.8
-.02
7.91
80.73

2.09
13.31
40.76
35.23
2.47
13.79
19.65
5.
.13
23.9
89.48

1.82
15.85
46.6
41.24
2.41
10.21
20.96
6.15
.07
24.28
84.44

Growth with Composition of

600
500
400

18.8%

300
Billion Rs
200
100
0
Non-Current Assets

Growth & Composition of Operations

1800
1600
1400
1200
1000
800
Billion Rs
600

14.3%

400
200
0
Sales

Profitability/Efficiency Ratios
50
45
40
35
30
25
Percentage 20
15
10

46.6
40.76

13.31

15.85

5
0
Return on Return on Return on
Assets
Equity

Growth with Composition of Assets & Liabilities

22.9% 25%
14.5%

12.6%

-4.2%
Current AssetsCurrent Liabilities
2010

Non-Current
Liabilities

2011

Shareholders Equity
Growth

of Operations
2010

2011

Growth
3,500.%
30.3% 3,000.%
2,500.%

25.5%

2,000.%
1,500.%

1,000.%
500.%
0.0%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

2010
2011

25

2010

20

2011

23.9 24.28

41.24
35.23

15
10

Percentage

6.15
5

2.09 1.82
1.2 1.23

0
Capital
Employed

Current
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earning
Per Share
after Tax

2,000.%
1,500.%
1,000.%
500.%
0.0%
-500.%
-1,000.%

Attock Petroleum Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
520,948.
673,037.
520,948.
55,785.

6,063,168.
2,280,904.
74,220.
2,502,476.
353,257.
852,311.
4,538,425.
4,538,425.

2,045,691.
400,000.
400,000.
1,645,691.

46,223,802.
46,223,802.
44,411,947.

1,811,855.
342,168.
342,168.

1,945,606.
553,000.
480,000.

2,045,691.
912,606.

1.13
0.0
5.41
7.02
1.34
96.08

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.22
43.08
127.21
127.21
2.9
622.79
4.21
0.0
34.82
51.14
434

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0
0.0
0.0
0.0

0.0
-

2007
601,326.
816,437.
601,326.
63,428.
0.0
8,382,441.
4,066,809.
341,702.
2,502,998.
202,025.
1,268,907.
5,529,470.
0.0
5,529,470.
0.0
0.0
0.0
3,454,297.
400,000.
400,000.
0.0
3,054,297.
-

(Thousand Rupees)
2008
2009
2010
2011
922,621.
1,864,272.
2,013,419.
2,232,955.
191,095.
197,475.
336,477.
1,212,247.
1,294,352.
1,472,927.
1,626,336.
922,621.
939,780.
1,019,742.
1,038,290.
77,187.
82,634.
127,298.
145,064.
0.0
0.0
733,397.
765,739.
842,957.
0.0
30,463.
15,231.
14,590,715. 16,408,160. 19,429,233. 22,247,396.
6,117,891.
7,434,910.
9,275,603.
5,218,037.
299,092.
141,507.
993,282.
5,246,705.
5,825,869.
7,835,521.
7,602,060.
9,297,292.
1,039,450.
0.0
831,754.
1,015,930.
1,308,413.
996,222.
726,534.
1,469,432.
9,977,487. 10,938,626. 11,917,167. 12,613,827.
0.0
0.0
9,977,487. 10,938,626. 11,917,167. 12,613,827.
0.0
251,538.
288,908.
320,316.
0.0
0.0
0.0
0.0
0.0
0.0
251,538.
288,908.
320,316.
5,535,849.
7,082,268.
9,236,577. 11,546,208.
480,000.
576,000.
576,000.
691,200.
480,000.
576,000.
576,000.
691,200.
0.0
0.0
5,055,849.
6,506,268.
8,660,577. 10,855,008.
34,097.
17,043.
27,407.
6,472,171.
8,643,534. 10,827,601.
0.0
-

49,965,900.
49,965,900.
0.0
47,920,929.

0.0
-

60,130,125.
60,130,125.
0.0
57,381,724.
-

2,044,971.
409,649.
-

2,748,401.
556,036.
-

409,649.
-

0.0

0.0
0.0

0.0
-

2,435,606.
723,000.
560,000.
80,000.

0.0
-

556,036.

0.0
-

2011

3,529,552.
924,000.
960,000.
96,000.
-

61,863,152.
55,229,857.
6,633,295.
58,570,802.
53,793,461.
4,777,341.
3,292,350.
702,268.
0.0
702,268.
370,129.
28,992.
0.0
4,280,419.
1,120,000.
1,440,000.
0.0
2,000,812.

82,791,918.
74,841,765.
7,950,153.
79,032,034.
73,914,394.
5,117,640.
3,759,884.
925,687.

109,394,725.
102,797,638.
6,597,087.
104,680,507.
104,680,507.
4,714,218.
1,049,021.
-

925,687.
624,996.
319,865.

1,049,021.
210,134.
1,120,372.

4,846,309.
5,579,805.
1,234,000.
1,760,000.
1,728,000.
2,868,480.
115,200.
3,358,779. -2668549

3,454,297.
0.0
1,152,606.
0.0

5,535,849.
0.0
1,645,552.
0.0

7,333,806.
0.0
1,720,419.
0.0

9,525,485.

1.22
0.0
5.01
5.56
1.52
95.91

1.3
0.0
9.69
3.88
1.46
95.43

1.4
.05
12.67
3.39
1.5
94.68

1.49
.39
9.18
3.86
1.63
95.46

1,884,309.

11,866,524.
0.0
951,325.
0.0
1.23
1.02
8.5
4.47
1.76
95.69

0.0

0.0
0.0

1.6
31.29
88.57
88.57
3.06
146.23
-

1.8
28.82
78.52
78.52
2.71
201.04
-

4.87
0.0
42.82
86.36

1.58
25.34
67.85
66.52
2.19
437.17

1.32
24.41
59.4
57.49
2.09
83.35

6.92
.18
54.87
122.96

5.85
.28
62.71
160.36

5.87
0.0
54.28
115.33

1.12
24.3
53.7
52.17
1.33
20.85
-

5.1
-.21
55.26
167.05

Attock Refinery Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,243,951.
6,266,867.
3,243,951.
340,410.

25,852,334.
8,031,594.
3,523,808.
4,675,133.
8,622,914.
998,885.
20,554,182.
1,136,750.
19,417,432.
3,410,250.

3,410,250.
5,131,853.
454,896.
454,896.
4,676,957.

70,001,269.
61,488,286.
8,512,983.
69,429,575.

571,694.
264,990.
264,990.
498,425.
435,362.
400,000.
104,976.

8,542,103.
35,362.
1,136,750.
1.04
.71
6.68
2.41
1.26
99.18

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.67
1.83
8.76
6.52
19.87
.62
0.0
.78
112.81
435

Financial Statement Analysis of Non Financial Sector

2007
2,968,135.
6,347,549.
2,968,135.
340,410.
0.0
0.0
29,219,818.
8,880,114.
3,852,646.
6,234,918.
9,261,339.
990,801.
26,485,949.
0.0
26,485,949.
0.0
0.0
0.0
0.0
5,702,004.
568,620.
568,620.
0.0
0.0
5,133,384.
-

(Thousand Rupees)
2008
2009
2010
2011
2,929,652. 18,415,324. 19,957,153. 28,337,372.
336,072.
260,908.
279,099.
6,663,704.
6,383,506.
6,543,471. 13,415,929.
2,929,652.
2,524,816.
2,565,183.
9,337,332.
391,506.
127,932.
123,925.
108,191.
0.0
0.0
15,299,218. 16,915,229. 18,493,118.
255,218.
215,833.
227,823.
47,151,531. 28,140,279. 42,297,522. 40,600,949.
18,944,632.
6,803,995.
3,971,738.
3,865,089.
4,844,853.
4,869,728.
7,179,547. 10,873,194.
9,207,238. 15,510,180. 30,430,592. 25,053,997.
13,135,579.
0.0
1,019,229.
956,376.
715,645.
808,669.
38,458,853. 32,302,627. 46,259,902. 42,339,112.
0.0
0.0
38,458,853. 32,302,627. 46,259,902. 42,339,112.
0.0
120,130.
140,022.
158,401.
0.0
0.0
0.0
0.0
120,130.
140,022.
158,401.
0.0
0.0
11,622,330. 14,132,846. 15,854,751. 26,440,808.
710,775.
852,930.
852,930.
852,930.
710,775.
852,930.
852,930.
852,930.
0.0
0.0
10,911,555. 11,356,577. 13,078,482. 16,842,661.
5,296,593.
4,723,028.
5,894,474.
6,059,984.
8,355,454. 10,948,187.
1,923,339.
1,923,339.
8,745,217.

74,316,619.
66,083,779.
8,232,840.
73,462,649.
-

93,654,305.
82,828,681.
10,825,624.
89,646,373.
-

853,970.
293,975.
-

4,007,932.
454,187.
-

293,975.
-

454,187.
-

234,278.

0.0

1,244,373.
-

325,717.
476,500.
227,448.
142,155.

0.0

2011

2,887,223.
1,054,100.
568,620.
142,155.
-

5,702,004.
0.0
-378231
0.0

11,622,330.
0.0
1,264,503.
0.0

.92
.32
8.39
2.31
1.1
98.85

1.07
1.33
9.83
1.87
1.23
95.72

77,260,500. 88,184,026.
69,188,235. 88,184,026.
8,072,265.
75,342,096. 88,693,686.
72,928,397. 86,477,494.
2,413,699.
2,216,192.
1,918,404. -509660
367,950.
346,870.
20,809.
24,834.
347,141.
322,036.
489,867.
595,087.
1,471,525.
308,797.
0.0
1,344.
1,072,629. -181992
631,700.
270,900.
0.0
0.0
-11543764
-3739484

116,397,374.
116,397,374.
114,839,853.
114,444,741.
395,112.
1,557,521.
585,424.
28,337.
557,087.
655,470.
45,408.
959.
2,492,279.
1,368,900.
0.0
-1974875

14,252,976. 15,994,773.
0.0
440,929. -452892
0.0

26,599,209.
0.0
952,793.
0.0

.69
1.9
20.08
1.66
.87
97.52

.74
.35
34.51
1.42
.91
100.58

.68
.04
21.52
1.69
.96
98.66

170,586.

4.65
1.06
6.01
4.57
-.66
19.29

.44
0.0
-2.65
100.28

3.31
7.02
33.33
33.33
3.22 19.33
3.08
0.0
25.79
163.52

2.29
2.22
8.33
8.29

2.93
-.33
-1.21
-1.2

15.87

12.28
-134.41
-.21
-.08
-5.31
185.89

1.61
3.8
11.79
11.7
-

1.39
-.36
5.17
165.7

6.59
10.7
2,599.83
2.14
-.05
13.17
310.

0.0

0.0
0.0

Byco Petruleum (Bosicor Pakistan Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,737,018.
4,390,591.
3,719,322.
325,598.
17,696.

7,380,583.
2,189,778.
3,909,395.
1,106,960.
0.0
174,450.
7,358,405.
890,101.
6,468,304.
1,000,605.

535,698.
464,907.
2,758,591.
2,450,652.
2,450,652.
0.0
307,939.

21,633,519.
21,201,256.
432,263.
21,008,890.

624,629.
138,578.
138,578.
285,566.
301,361.
89,645.
0.0
0.0

3,759,196.
535,698.
211,716.
1,425,799.
.45
1.32
5.12
1.95
1.
97.11

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.03
3.35
11.33
8.44
5.53
1.39
0.0
.86
11.26
436

Financial Statement Analysis of Non Financial Sector

2011

2007
6,401,691.
7,275,720.
6,387,534.
219,890.
14,157.
8,840,938.
1,788,863.
5,177,422.
1,079,213.
300,000.
495,440.
8,742,243.
859,375.
7,882,868.
1,451,589.
321,396.
1,130,193.
5,048,797.
2,450,652.
2,450,652.
0.0
2,598,145.
-

2008
8,575,551.
9,698,575.
8,564,933.
249,322.
10,618.
23,486,044.
7,906,497.
11,934,244.
3,217,917.
0.0
427,386.
26,027,414.
1,605,532.
24,421,882.
933,899.
107,094.
826,805.
5,100,282.
3,921,044.
3,921,044.
0.0
1,179,238.
-

2009
14,874,321.
4,297,952.
12,091,616.
10,480,610.
482,019.
7,079.
0.0
88,680.
16,744,472.
2,078,445.
4,487,801.
9,089,974.
0.0
1,088,252.
23,129,180.
1,660,246.
21,468,934.
11,081,333.
5,432,145.
4,023,101.
0.0
12,259.
1,613,828.
-2591720
3,921,044.
3,921,044.
0.0
-10597517
0.0
-10597517
4,084,753.

(Thousand Rupees)
2010
2011
17,192,986. 22,060,622.
6,866,005.
6,459,916.
12,433,065. 18,444,991.
10,203,285. 15,526,412.
630,610.
701,459.
39,116.
32,619.
84,580.
41,675.
13,629,157. 12,038,795.
1,046,352.
271,254.
4,927,938.
4,113,023.
6,861,842.
6,658,446.
793,025.
996,072.
26,333,231. 29,020,544.
508,809. 25,824,422. 29,020,544.
10,266,838.
5,036,072.
3,290,451.
1,506,738.
5,000,944. 22,959.
37,313.
1,952,484.
3,492,021.
-5777926
42,801.
3,921,044.
9,778,587.
3,921,044.
9,778,587.
0.0
0.0
-13559848
-15665947
-13559848
-15665947
3,860,878.
5,930,161.

23,349,577.
22,435,606.
913,971.
23,422,062.

40,092,140.
40,092,140.
0.0
37,950,232.

44,621,016.
39,103,284.
5,517,732.
48,530,050.
46,184,170.
2,345,880.
-3909034
595,161.
192,809.
402,352.
365,632.
6,431,727.
1,989,011.
-10327182
55,177.
0.0
0.0
-5837508

41,097,707. 38,944,270.
32,320,908. 30,844,800.
8,776,799.
8,099,470.
40,433,035. 38,237,612.
41,400,669. 35,478,237.
-967634
2,759,375.
664,672.
706,658.
1,233,943.
1,830,498.
637,710.
982,753.
596,233.
847,745.
539,700.
691,970.
3,026,132.
2,096,783.
-2852437
-2244431
249,373.
240,758.
0.0
0.0
2,013,478.
3,186,089.

-72485
196,142.
196,142.
405,647.
-628204
96,859.
0.0
0.0
6,500,386.
321,396.
-725063
1,180,771.
.36
1.74
4.62
1.53
1.01
100.31

2,141,908.
1,647,747.
1,647,747.
497,179.
183,981.
179,031.
0.0
0.0
-

6,034,181.
8,489,613.
4,488,912.
5,078,873.
107,094.
5,432,145.
3,290,451.
1,506,738.
-3101810
-2485189
4,950. -10382359
1,712,626.
7,092,391.
3,799,260.
1,506,738.
.43
1.24
8.03
1.25
.9
94.66

.48
14.41
20.37
1.41
.72
108.76

.3
7.36
16.7
1.33
.52
98.38

.24
5.38
17.1
1.14
.41
98.19

2.02
-4.77
-16.09
-12.25
-

5.29
.78
3.63
2.94
-

4.51
-

3.36

-2.69
0.0
-2.96
20.6

-13.2
-32.43
-823.35
-142.21

.46
0.0
.01
13.01

9.94
-4.19 -23.14
-.17
-26.48
-6.61

-6.33
-9.14
68.16
-43.96

795.7
-6.91
78.27
-46.92
-

8.34

9.47
-

-6.94
.06
-7.91
-14.74

-5.76
.09
-2.54
.04

National Refinery Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
2,297,379.
7,167,360.
2,286,751.
177,150.
10,628.

22,625,162.
7,761,060.
6,475,195.
5,342,764.
3,046,143.
15,545,821.
15,545,821.

9,376,720.
666,388.
666,388.
8,710,332.

96,634,962.
84,005,891.
12,629,071.
91,636,209.

4,998,753.
1,064,284.
1,064,284.
9,883.
5,262,093.
1,745,579.
1,066,221.

9,376,720.
2,450,293.

.84
.01
5.53
3.88
1.46
94.83

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.66
24.27
64.5
64.5
3.3
14.92
5.45
0.0
52.77
140.71
437

2011

Financial Statement Analysis of Non Financial Sector

0.0

0.0
0.0
0.0
0.0

0.0
-

2007
2,361,478.
7,416,800.
2,343,352.
195,768.
18,126.
30,280,081.
11,492,152.
7,687,420.
6,130,324.
0.0
4,970,185.
19,895,170.
0.0
19,895,170.
0.0
0.0
0.0
12,746,389.
666,388.
666,388.
0.0
12,080,001.
-

(Thousand Rupees)
2008
2009
2010
2,613,187.
3,188,894.
3,771,585.
923,463.
534,040.
7,907,169.
7,623,624.
8,471,125.
2,601,276.
2,095,848.
2,714,181.
239,204.
228,331.
235,129.
11,911.
5,938.
138.
0.0
163,645.
523,226.
43,991,428. 39,155,717. 47,867,534.
13,122,136.
7,800,079. 16,209,008.
13,288,291. 12,251,181. 11,798,203.
10,173,051. 14,841,288. 16,291,704.
3,615,359.
0.0
3,792,591.
4,263,169.
3,568,619.
29,185,570. 24,856,323. 31,861,654.
0.0
0.0
29,185,570. 24,856,323. 31,861,654.
0.0
135,547.
139,492.
0.0
0.0
0.0
0.0
135,547.
139,492.
0.0
0.0
17,419,045. 17,352,741. 19,637,973.
799,666.
799,666.
799,666.
799,666.
799,666.
799,666.
0.0
0.0
16,619,379. 16,553,075. 18,838,307.
3,932,897.
14,259.
12,620,178. 18,824,048.
0.0
-

109,145,970.
92,926,185.
16,219,785.
102,882,180.
6,263,790.
1,155,225.
1,155,225.
6,554.
6,094,700.
2,003,100.
133,278.
0.0
133,278.
-

146,233,271.
124,753,735.
21,479,536.
135,552,515.
10,680,756.
1,922,197.
1,922,197.
1,331,669.
8,831,292.
2,917,200.
159,933.
0.0
-

12,746,389.
0.0
3,958,322.
0.0

17,419,045.
0.0
5,754,159.
0.0

17,488,288.
0.0
789,525.
0.0

19,777,465.

.89
.01
5.62
3.34
1.52
94.26

.92
.91
6.96
3.14
1.51
92.7

.91
2.19
13.54
2.59
1.58
95.18

1.02
.63
14.79
2.13
1.5
94.25

0.0
0.0

109,578,364. 110,186,374.
96,153,149. 92,404,378.
13,425,215. 17,781,996.
104,301,665. 103,853,566.
101,831,561. 102,309,484.
2,470,104.
1,544,082.
5,276,699.
6,332,808.
1,434,003.
1,779,533.
860,112.
996,099.
573,891.
783,434.
1,038,419.
1,050,797.
2,394,388.
695,757.
0.0
348,289.
2,813,456.
5,135,622.
1,024,349.
2,112,460.
999,583.
1,599,332.
0.0
-7397293
10,192,154.

2011
3,327,820.
231,276.
9,032,071.
3,003,479.
280,284.
35.
93,030.
53,366,439.
9,058,203.
19,346,929.
14,100,493.
10,860,814.
31,858,318.
31,858,318.
228,766.

0.0

179,857.
48,909.
24,607,175.
799,666.
799,666.
23,807,509.
14,259.
23,793,250.

148,558,492.
123,338,516.
25,219,976.
138,551,416.
141,730,936.
-3179520
10,007,076.
2,325,572.
1,135,999.
1,189,573.
1,217,674.
150,468.
113,114.
10,028,610.
2,978,436.
1,999,165.
0.0
-491
24,835,941.
0.0

1,423,830.

5,051,009.
0.0
.73
.1
9.49
2.62
1.68
93.26

1.56
21.18
55.1
55.1
30.7
14.2
-

1.68
22.29
58.55
58.55
36.98
11.
-

5.58
0.0
61.4
191.28

1.44
6.33
16.18
16.12
1.79
8.94
-

6.04
0.0
73.96
217.83

2.57
-.3
22.37
217.

1.63
10.93
27.77
27.56
1.89
9.34
15.75
4.66
.32
37.81
245.58

1.3
18.51
45.33
44.96
3.53
7.68
89.66
6.75
0.0
88.16
307.72

0.0

0.0
0.0

Pakistan Oilfields Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
6,500,547.
6,928,639.
6,500,547.
230,793.

16,740,701.
3,923,783.
62,774.
2,489,937.
8,335,208.
1,928,999.
6,996,752.
1,080,000.
5,916,752.
1,620,000.

1,620,000.
14,624,496.
1,971,216.
1,971,216.
12,653,280.

17,732,095.
17,732,095.
9,143,418.

8,588,677.
620,388.
620,388.
376,991.
8,128,615.
2,011,926.
2,956,824.
985,608.

16,244,496.
3,159,865.
1,080,000.
2.11
2.13
14.04
.76
2.39
51.56

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.59
41.6
62.75
59.06
2.07
282.48
45.84
0.0
31.03
74.19
438

Financial Statement Analysis of Non Financial Sector

2007
8,153,327.
10,712,568.
8,153,327.
285,180.
0.0
0.0
16,867,069.
3,173,303.
69,207.
2,343,639.
8,734,654.
2,546,266.
5,544,193.
0.0
5,544,193.
0.0
0.0
0.0
0.0
19,476,203.
1,971,216.
1,971,216.
0.0
0.0
17,504,987.
-

(Thousand Rupees)
2008
2009
2010
2011
10,359,216. 26,573,959. 29,369,919. 32,506,659.
2,151,621.
105,507.
135,754.
13,015,437.
5,186,238.
7,847,209.
8,482,506.
10,359,216.
1,922,991.
4,054,371.
4,184,045.
580,625.
417,283.
620,514.
617,141.
0.0
0.0
11,330,404. 11,829,109. 12,707,166.
11,168,943. 13,380,932. 15,479,694.
22,508,772.
9,957,920. 12,465,495. 17,967,755.
7,424,725.
4,074,756.
4,177,531.
6,942,334.
57,611.
95,971.
104,073.
133,966.
1,800,233.
1,827,533.
2,584,625.
4,343,778.
10,214,926.
6,623.
2,282,908.
3,227,373.
3,011,277.
3,953,037.
3,316,358.
3,320,304.
7,498,072.
2,804,032.
3,384,163.
5,481,992.
0.0
0.0
7,498,072.
2,804,032.
3,384,163.
5,481,992.
0.0
6,148,624.
6,993,214.
8,333,397.
0.0
0.0
0.0
0.0
8,758.
0.0
6,139,866.
6,993,214.
8,333,397.
25,369,916. 27,579,223. 31,458,037. 36,659,025.
1,971,216.
2,365,459.
2,365,459.
2,365,459.
1,971,216.
2,365,459.
2,365,459.
2,365,459.
0.0
0.0
0.0
23,398,700. 25,213,764. 29,092,578. 34,293,566.
557,087.
437,691.
623,053.
24,656,677. 28,654,887. 33,670,513.
0.0
-

16,331,115.
16,331,115.
0.0
7,794,591.

0.0
-

18,722,408.
18,722,408.
0.0
8,087,533.
-

8,536,524.
1,001,077.
-

10,634,875.
1,736,721.
-

1,001,077.
-

1,736,721.
-

226,016.
-

389,390.
-

8,222,587.
1,457,000.
2,956,824.
0.0
-

0.0

2011

9,576,248.
2,479,217.
3,153,946.
394,243.
-

14,545,279. 18,418,349.
14,545,279. 18,418,349.
0.0
6,126,443.
7,454,688.
0.0
6,126,443.
7,454,688.
8,418,836. 10,963,661.
2,656,910.
2,410,994.
0.0
2,656,910.
2,410,994.
541,244.
714,525.
512,785. -753468
0.0
7,227,855. 10,319,241.
572,623.
1,483,928.
4,257,826.
6,031,920.
0.0
5,555,728.
9,334,771.

19,476,203.
0.0
3,808,763.
0.0

25,369,916.
0.0
3,943,085.
0.0

33,727,847.
0.0
2,397,406.
0.0

38,451,251.

2.57
1.38
14.35
.65
3.04
47.73

2.59
2.08
9.62
.57
3.
43.2

2.11
3.53
12.56
.4
3.55
42.12

2.67
-4.09
14.03
.44
3.68
40.47

2,803,393.

0.0

25,670,744.
25,670,744.
-

9,952,235.

9,952,235.
15,718,509.
2,288,449.

2,288,449.
1,110,829.
-1189630
15,900,217.
3,457,896.
8,279,107.
0.0
12,497,013.
44,992,422.
0.0
4,163,214.
0.0
2.65
-4.63
16.92
.51
3.28
38.77

0.0

0.0
0.0

.28
34.08
48.23
46.04
2.29
235.97
-

.3
33.09
42.71
42.71
2.25
324.98
-

50.35
0.0
34.32
98.8

.32
20.83
27.3
24.46
1.56
151.56

.33
26.34
34.96
28.59
1.46
176.98

49.69
.62
28.14
116.59

56.03
.9
37.35
132.99

51.15
0.0
36.
128.7

.38
34.45
46.68
38.11
1.5
191.62
-

61.94
.9
52.6
154.98

Pakistan Petroleum Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
12,869,583.
23,787,811.
12,763,021.
1,471,407.
106,562.

28,196,514.
17,326,903.
6,941,736.
308,396.
3,619,479.
10,056,167.
44,236.
10,011,931.
79,349.

79,349.
30,930,581.
6,858,376.
6,858,222.
154.
24,072,205.

43,565,270.
43,565,270.
23,724,440.

19,840,830.
1,127,195.
1,127,195.
30,096.
20,189,533.
6,436,482.
3,772,068.

31,009,930.
9,980,983.
44,236.
2.44
.07
15.93
1.06
2.8
54.46

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.33
55.42
73.89
73.7
3.65

46.34
0.0
20.05
45.1
439

Financial Statement Analysis of Non Financial Sector

2007
15,377,148.
24,213,098.
15,226,821.
1,636,347.
150,327.
34,991,977.
787,384.
0.0
1,474,655.
9,002,094.
22,193,282.
1,534,562.
10,201,922.
50,696.
10,151,226.
69,152.
0.0
0.0
69,152.
40,098,051.
6,858,376.
6,858,376.
0.0
33,239,675.
-

(Thousand Rupees)
2008
2009
2010
2011
21,368,020. 37,477,478. 44,522,467. 62,682,907.
16,444,583. 14,786,064.
5,580,023.
35,853,636. 34,950,465. 46,802,606. 64,584,833.
21,187,166. 18,318,870. 26,909,324. 39,838,249.
2,147,646.
2,308,665.
3,437,317.
4,883,082.
180,854.
207,264.
374,850.
487,195.
1,854,333.
1,804,498. 16,102,548.
652,428.
647,731.
674,892.
39,655,241. 45,438,653. 63,057,116. 61,448,104.
1,094,892.
1,384,353.
1,874,393.
1,503,126.
0.0
0.0
13,228,456. 27,779,864. 30,811,189. 32,096,358.
22,749,486. 13,241,686. 27,295,840. 20,851,145.
2,582,407.
3,032,750.
3,075,694.
6,997,475.
17,291,426. 14,648,084. 19,623,088. 19,508,473.
44,795.
45,946.
1,210,728.
53,428.
17,246,631. 14,602,138. 18,412,360. 19,455,045.
77,564.
5,209,490.
8,050,264. 10,199,505.
100,105.
87,881.
101,848.
0.0
0.0
0.0
990,685.
1,135,029.
1,340,573.
77,564.
4,118,700.
6,827,354.
8,757,084.
43,654,271. 63,058,557. 79,906,231. 94,423,033.
7,544,200.
8,298,606.
9,958,298. 11,949,930.
7,544,200.
8,298,606.
9,958,298. 11,949,930.
0.0
0.0
0.0
36,110,071. 54,759,951. 69,947,933. 82,473,103.
1,428.
1,428.
1,428.
54,758,523. 69,946,505. 82,471,675.
0.0
-

51,079,679.
51,079,679.
0.0
26,538,401.

0.0
-

57,884,679.
57,884,679.
0.0
28,378,275.
-

24,541,278.
2,600,106.
-

29,506,404.
2,085,367.
-

2,600,106.
-

2,085,367.
-

49,424.
-

0.0

66,624.
-

24,356,770.
8,015,087.
3,086,269.
685,838.

0.0
-

2011

30,446,555.
9,366,685.
11,693,510.
754,420.
-

61,580,072.
61,580,072.
0.0
20,624,486.
0.0
20,624,486.
40,955,586.
3,103,270.
0.0
3,103,270.
3,103,270.
93,628.
19,236.
41,908,420.
14,082,203.
10,788,188.
1,659,721.
13,293,274.

59,961,616.
59,961,616.

87,956,495. 104,622,538.
87,881.
101,848.
15,837,960. 19,308,078.
1,298,609.
155,276.

40,167,203.
0.0
13,255,414.
50,696.

43,731,835.
0.0
9,386,360.
44,795.

68,268,047.
100,105.
17,038,029.
146,051.

3.13
.1
17.62
1.01
3.43
51.95

2.14
.12
22.85
.95
2.29
49.03

2.89
.15
45.11
.74
3.1
33.49

78,252,395.
78,252,395.
-

25,349,117.

30,597,067.

25,349,117.
34,612,499.
2,567,955.

30,597,067.
47,655,328.
3,591,519.

2,567,955.
3,868,609.
154,832.
57,910.
34,528,207.
9,727,779.
8,962,468.
1,991,660.
26,459,883.

3.06
.26
51.38
.56
3.21
42.28

3,591,519.
4,611,821.
205,444.
58,839.
48,364,644.
14,716,650.
14,339,916.
1,194,993.
30,130,644.

2.79
.26
41.02
.63
3.15
39.1

0.0

.26
53.28
68.58
68.44
5.29
34.64 47.68
0.0
23.83
58.47

.4
54.67
72.71
72.58
1.8

.31
58.23
78.54
74.84
2.58

.35
36.25
48.3
44.2
2.77

52.6
0.0
27.94
57.86

.31
41.75
55.49
50.23
2.35
-

2,179.65
68.06
.67
33.53
75.99

597.24
57.58
.96
24.9
80.24

822.98
61.81
1.01
28.16
79.02

Pakistan Refinery Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
816,734.
1,600,580.
816,734.
110,122.
0.0

11,187,665.
2,363,107.
3,843,622.
3,674,774.
50,609.
1,255,553.
7,452,851.
29,080.
7,423,771.
0.0

0.0
0.0
4,551,548.
250,000.
250,000.
0.0
4,301,548.

71,991,159.
71,991,159.
0.0
69,589,746.

2,401,413.
391,201.
391,201.
40,999.
2,063,383.
726,621.
0.0
112,500.

4,551,548.
0.0
1,336,762.
29,080.
.82
.06
5.1
6.
1.5
96.66

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.64
20.99
52.57
52.57
18.73
2.87
0.0
53.47
182.06
440

Financial Statement Analysis of Non Financial Sector

2007
952,118.
1,841,574.
930,675.
132,110.
21,443.
13,734,415.
1,698,277.
5,107,781.
4,779,465.
255,846.
1,893,046.
9,881,450.
0.0
9,881,450.
0.0
0.0
0.0
4,805,083.
300,000.
300,000.
0.0
4,505,083.
-

2011

(Thousand Rupees)
2008
2009
2010
2011
989,865.
3,412,936.
5,696,266.
4,448,453.
1,381,075.
1,562,378.
216,642.
2,030,504.
2,131,135.
5,361,657.
5,626,275.
975,774.
954,988.
4,036,490.
4,142,422.
143,831.
130,813.
155,256.
162,512.
14,091.
6,739.
57,280.
66,663.
70,576.
1,012,854.
30,735.
18,813.
22,782,211. 29,153,909. 25,163,450. 20,530,314.
2,646,115.
3,909,833.
9,590.
7,164.
9,102,109.
8,367,282.
6,810,970.
9,054,172.
10,427,821. 14,431,063. 16,120,819.
9,979,708.
58,603.
0.0
547,563.
2,445,731.
2,222,071.
1,489,270.
16,966,171. 30,383,131. 28,509,765. 22,383,185.
0.0
4,105,936.
3,171,710.
1,705,128.
16,966,171. 26,277,195. 25,338,055. 20,678,057.
0.0
4,372.
1,138.
18,665.
0.0
0.0
0.0
0.0
4,372.
1,138.
12,077.
0.0
0.0
0.0
6,588.
6,805,905.
2,179,342.
2,348,813.
2,576,917.
350,000.
350,000.
350,000.
350,000.
350,000.
350,000.
350,000.
350,000.
0.0
0.0
-917011
6,455,905.
1,829,342. -1145115
897.
897.
897.
-917908
1,828,445. -1146012
0.0
3,143,928.
3,143,928.

67,385,920. 107,300,775. 76,861,057. 76,658,272. 96,450,545.

67,385,920. 107,300,775. 69,790,188. 67,654,609. 83,270,461.
0.0
0.0
7,070,869.
9,003,663. 13,180,084.
66,609,969. 102,969,009. 79,874,195. 77,289,144. 94,032,891.
79,048,218. 75,216,281. 93,724,259.
825,977.
2,072,863.
308,632.
-630872
775,951.
4,331,766. -3013138
2,417,654.
270,663.
1,079,720.
288,636.
289,187.
1,790,000.
120,841.
126,394.
164,585.
270,663.
1,079,720.
167,795.
162,793.
1,625,415.
390,389.
344,746.
436,033.
81,718.
253,047.
2,477,467.
1,134,272.
212,009.
343,481.
429,219.
185,985.
-1914433
504,265.
3,254,618. -5501398
734,122.
288,440.
1,153,180.
85,872.
91,294.
575,754.
99,000.
0.0
0.0
0.0
50,100.
0.0
0.0
0.0
-1397205
-2830971
1,638,037.
4,805,083.
0.0
116,825.
0.0
.68
.12
7.09
4.59
1.39
98.85

6,805,905.
2,183,714.
2,349,951.
0.0
0.0
0.0
-2005727
2,101,438. -5587270
0.0
4,105,936.
3,171,710.
.77
.24
9.72
4.51
1.34
95.96

.6
3.22
18.78
2.36
.96
103.92

.57
1.48
21.03
2.48
.88
100.82

2,595,582.
0.0
105,868.
1,705,128.
.45
.22
10.35
3.86
.92
97.49

52,500.

2.06
3.78
10.78
10.78
2.18 13.19
.75
0.0
7.19
160.17

2.49
16.93
56.06
56.06

13.94
-19.53
-122.45
-122.39

12.14
-6.04
-84.56
-84.45

9.19
-15.02
-7.16
-.05
-159.64
62.27

11.26
-3.46
-2.5
-.1
-57.31
67.11

11.79
3.03
0.0
60.04
194.45

8.69
2.63
29.81
29.69
-

3.02
10.65
4.95
.76
.07
4.52
73.63

Pakistan State Oil Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
7,639,248.
13,668,220.
7,484,429.
1,046,839.
154,819.

62,529,276.
1,898,894.
28,168,633.
11,839,518.
3,278,970.
17,343,261.
49,355,465.
7,648,919.
41,706,546.

20,813,059.
1,715,190.
1,715,190.
19,097,869.

353,833,345.
353,833,345.
336,626,119.

17,207,226.
7,101,552.
7,101,552.
884,153.
11,654,101.
4,335,720.
5,831,646.

20,813,059.
1,486,735.
7,648,919.
.34
.25
3.35
5.04
1.27
95.14

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.37
19.07
59.08
59.08
1.25
12.56
3.29
0.0
42.67
121.35
441

Financial Statement Analysis of Non Financial Sector

2007
8,138,529.
16,244,045.
8,012,317.
1,098,157.
126,212.
66,598,786.
1,522,276.
29,562,055.
13,599,966.
2,990,591.
18,923,898.
53,798,098.
9,064,781.
44,733,317.
0.0
0.0
0.0
20,939,217.
1,715,190.
1,715,190.
0.0
19,224,027.
-

2008
7,566,051.
16,774,554.
7,460,549.
1,119,137.
105,502.
119,543,969.
3,018,640.
62,360,067.
33,904,728.
2,701,097.
17,559,437.
96,144,966.
10,997,908.
85,147,058.
0.0
0.0
0.0
30,965,054.
1,715,190.
1,715,190.
0.0
29,249,864.
-

2009
14,732,119.
698,501.
16,692,857.
6,288,524.
1,141,698.
68,872.
2,153,514.
5,522,708.
138,689,524.
2,883,118.
40,698,209.
80,509,830.
0.0
14,598,367.
130,023,120.
18,654,526.
111,368,594.
2,527,738.
0.0
0.0
0.0
1,673,020.
854,718.
20,870,785.
1,715,190.
1,715,190.
0.0
19,155,595.
545,595.
18,610,000.
0.0

(Thousand Rupees)
2010
2011
8,874,593.
9,858,510.
644,850.
424,790.
17,106,763. 18,086,155.
5,730,383.
5,659,941.
1,137,637.
1,120,999.
36,250.
28,822.
2,019,270.
2,314,168.
443,840.
1,430,789.
193,373,148. 252,814,896.
1,778,056.
2,309,006.
58,598,668. 95,378,393.
117,501,074. 124,721,832.
15,495,350. 30,405,665.
170,075,456. 217,513,173.
13,021,015. 24,541,511.
157,054,441. 192,971,662.
2,836,227.
3,257,248.
1,887,751.
2,233,717.
948,476.
1,023,531.
29,336,058. 41,902,985.
1,715,190.
1,715,190.
1,715,190.
1,715,190.
27,620,868. 40,187,795.
475,829.
493,189.
27,145,039. 39,694,606.
-

411,989,979.
411,989,979.
0.0
0.0
399,730,549.
12,259,430.
6,012,814.
6,012,814.
1,158,112.
7,121,980.
2,483,725.
3,601,899.
0.0
0.0
-

583,213,959.
583,213,959.
0.0
553,190,333.
30,023,626.
9,283,021.
9,283,021.
1,367,898.
21,377,412.
7,392,666.
4,030,696.
0.0
-

612,695,589.
612,695,589.
0.0
609,685,478.
0.0
609,685,478.
3,010,111.
10,815,121.
3,960,953.
6,854,168.
2,871,933.
6,232,056.
2,953,427.
-11356864
201,536.
857,595.
0.0
-4828554

742,757,951.
742,757,951.
713,591,707.
713,591,707.
29,166,244.
9,411,885.
4,055,238.
5,356,647.
4,531,488.
9,882,010.
1,899,519.
17,963,152.
3,905,704.
1,372,152.
0.0
4,957,702.

30,965,054. 23,398,523.
0.0
0.0
9,954,050. -12415995
10,997,908. 18,654,526.

32,172,285.
0.0
12,685,296.
13,021,015.

45,160,233.

.7
1.33
15.82
3.67
1.14
96.07

.58
1.45
15.2
3.12
1.16
95.82

0.0
0.0
0.0

0.0
-

2011

0.0

20,939,217.
0.0
1,036,356.
9,064,781.
.34
.28
3.3
5.51
1.24
97.02

.41
.23
5.81
4.59
1.24
94.85

.64
1.02
13.14
3.99
1.07
99.51

820,530,364.
820,530,364.
786,250,059.
786,250,059.
34,280,305.
10,879,122.
5,175,233.
5,703,889.
5,618,524.
11,903,162.
2,867,733.
17,974,434.
4,414,335.
1,715,190.
0.0
-8416354

0.0
11,844,909.
24,541,511.

2.57
9.83
34.12
34.12
1.29
13.94
-

3.1
21.18
82.37
82.37
3.47
9.35
-

1.73
0.0
27.04
122.08

3.67
0.0
81.53
180.53

6.35
-8.1
-43.82
-41.78
-13.48
15.05
-2.85
-1.85
-.04
-67.39
121.68

5.89
10.1
71.56
64.65
10.24
12.68
10.46
2.42
.03
81.96
171.04

5.27
7.73
50.46
46.49
7.91
8.6
7.27
2.19
-.04
79.06
244.31

Shell Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
5,728,075.
10,536,413.
5,690,186.
655,737.
37,889.

22,443,807.
981,197.
9,979,886.
5,235,840.
1,877,001.
4,369,883.
18,050,756.
5,056,340.
12,994,416.
7,019.

7,019.
10,114,107.
438,323.
438,323.
9,675,784.

133,636,584.
133,636,584.
124,233,130.

9,403,454.
5,125,509.
5,125,509.
398,009.
4,599,494.
1,461,713.
1,314,969.
109,581.

10,121,126.
1,822,812.
5,056,340.
.45
.3
3.92
4.74
1.24
92.96

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.79
18.97
49.72
49.66
2.39
13.39
3.44
0.0
71.59
230.75
442

Financial Statement Analysis of Non Financial Sector

2011

2007
6,579,993.
11,896,099.
6,560,808.
578,296.
19,185.
22,631,934.
814,530.
8,244,054.
4,579,552.
2,015,535.
6,978,263.
19,750,609.
7,568,039.
12,182,570.
547.
0.0
0.0
547.
9,460,771.
547,904.
547,904.
0.0
0.0
8,912,867.
-

(Thousand Rupees)
2008
2009
2010
2011
7,152,802. 12,290,483. 13,007,751. 12,398,439.
740,908.
344,304.
1,128,102.
13,180,913. 11,134,698. 11,539,373. 11,351,768.
7,139,931.
6,283,879.
6,202,640.
5,606,489.
337,503.
743,431.
799,176.
726,773.
12,871.
289,573.
1,679,707.
1,321,105.
2,312,806.
2,547,853.
2,749,610.
2,663,317.
2,233,247.
1,593,133.
32,119,328. 21,363,250. 25,489,760. 36,760,642.
6,549,868.
869,623.
1,045,025.
1,438,447.
9,004,305. 13,076,718. 12,348,438. 17,847,222.
2,925,753.
1,239,213.
2,013,358.
2,488,910.
2,018,198.
0.0
0.0
11,621,204.
6,177,696. 10,082,939. 14,986,063.
33,014,777. 25,169,302. 30,407,710. 40,711,609.
13,894,872.
8,491,809.
8,400,000.
7,879,000.
19,119,905. 16,677,493. 22,007,710. 32,832,609.
1,795.
213,828.
189,766.
189,351.
1,790. 0.0 0.0
0.0 212,038.
187,104.
189,351.
1,795.
0.0
2,662.
6,255,558.
8,270,603.
7,900,035.
8,258,121.
684,880.
684,880.
684,880.
684,880.
684,880.
684,880.
684,880.
684,880.
0.0
0.0
0.0
5,570,678.
7,585,723.
7,215,155.
7,573,241.
2,096,050. 5,489,673.
7,215,155.
7,573,241.
0.0 -

131,040,241.
131,040,241.
0.0
0.0
125,266,780.
5,773,461.
5,429,419.
5,429,419.
909,919.
378,736.
89,779.
876,645.
0.0
-

84,900,772. 156,000,098. 197,530,911. 219,149,349.

77,990,403. 141,347,184. 170,217,084. 187,824,869.
6,910,369. 14,652,914. 27,313,827. 31,324,480.
87,849,668. 143,097,916. 185,403,153. 206,668,670.
4,882,003.
5,935,398.
7,168,140.
138,215,913. 179,467,755. 199,500,530.
-2948896
12,902,182. 12,127,758. 12,480,679.
4,839,035.
8,507,548.
8,942,452.
8,358,414.
3,376,353.
4,524,058.
4,141,036.
4,839,035.
5,131,195.
4,418,394.
4,217,378.
1,899,050.
1,717,123.
1,458,730.
976,838.
1,401,211.
1,264,677.
2,095,883.
1,249,957.
1,065,444.
1,866,644.
-8420354
3,910,009.
3,044,085.
2,832,717.
85,785.
778,934.
1,087,055.
1,290,392.
3,424,400.
2,260,104.
821,856.
171,220.
0.0
0.0
171,220.
3,933,575.
2,238,505. -4173400

0.0

9,461,318.
6,257,353.
0.0
0.0
-587688
-11930539
7,568,039. 13,894,872.
.38
.69
3.49
4.49
1.15
95.59

.35
1.15
3.45
2.16
.97
103.47

8,484,431.
1,790.
870,971.
8,493,599.

8,089,801.
0.0
1,135,174.
8,400,000.

8,447,472.

.08
.9
.79
4.64
.85
91.73

.1
.64
1.02
5.13
.84
93.86

.1
.96
1.14
4.46
.9
94.3

0.0

0.0
-

0.0

0.0
1,542,325.
7,879,000.

2.09
1.32
3.87
3.87
.33
15.9
-

5.28
-24.59
-107.15
-107.14
-2.48
9.43
-

.29
0.0
5.27
172.67

-9.92
0.0
-124.2
91.34

3.07
10.72
53.83
53.05
1.39
11.93
4.13
2.51
.15
45.72
120.76

3.87
8.44
37.65
36.73
2.38
16.
3.86
1.54
.07
28.57
115.35

4.95
6.46
35.06
34.26
12.28
2.52
1.29
-.1
22.52
120.58

PAPER, PAPERBOARD & PRODUCTS

RODUCTS

Paper, Paperboard and Products - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
18,935,247.
25,927,002.
18,932,507.
789,409.
2,740.

12,711,670.
377,652.
2,876,546.
1,326,840.
6,152,731.
1,977,901.
5,356,139.
2,297,361.
3,058,778.
6,663,200.

6,663,200.
19,627,578.
1,803,436.
1,803,436.
17,824,142.

16,792,668.
16,602,563.
190,105.
14,090,569.

2,702,099.
1,187,914.
1,187,914.
239,187.
6,995,521.
349,884.
521,158.
100,885.

26,290,778.
6,124,479.
2,297,361.
1.47
1.42
7.9
.53
2.37
83.91

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.61
26.97
42.87
33.92
12.75
5.84
41.66
0.0
36.25
107.05
445

2011

Financial Statement Analysis of Non Financial Sector

2007
29,077,484.
36,820,332.
29,069,829.
974,168.
7,655.
19,121,735.
347,238.
3,760,579.
1,813,483.
10,400,557.
2,799,878.
7,515,394.
1,421,950.
6,093,444.
16,125,907.
0.0
0.0
16,125,907.
24,557,918.
1,904,321.
1,904,321.
0.0
0.0
22,653,597.
-

2008
2009
32,812,211. 41,275,251.
371,717.
34,913,594. 44,015,945.
32,783,525. 32,320,378.
1,347,443.
2,248,049.
28,686.
71,634.
4,564,542.
3,946,980.
22,091,251. 15,811,967.
403,610.
994,853.
6,818,232.
7,229,244.
2,318,293.
3,237,019.
8,801,223.
0.0
3,749,893.
4,350,851.
13,955,954.
7,224,931.
5,869,699.
430,508.
8,086,255.
6,794,423.
17,965,664. 20,322,878.
17,009,459.
0.0
0.0
7,234.
17,965,664.
3,306,185.
22,981,844. 29,539,409.
2,164,227.
3,844,732.
2,164,227.
2,238,857.
0.0
1,605,875.
20,817,617. 25,449,253.
25,449,253.
245,424.

19,516,775.
19,318,000.
198,775.
16,906,320.
-

23,603,296.
22,993,347.
609,949.
21,577,634.
-

2,610,455.
1,185,201.
-

2,025,662.
1,303,203.
-

1,185,201.
-

1,303,203.
-

561,295.

1,844,149.
-

6,305,209.
294,618.
114,979.
259,906.
-

0.0

332,151.
215,891.
123,891.
105,629.
-

40,683,825. 40,947,508.
0.0
0.0
5,895,612. -7631
1,421,950.
5,869,699.
1.67
2.88
9.29
.4
2.54
86.62

.83
7.81
9.82
.43
1.58
91.42

(Thousand Rupees)
2010
2011
44,200,220. 47,759,051.
794,331.
399,976.
44,806,246. 46,935,549.
30,635,851. 30,807,202.
2,535,868.
2,622,477.
66,548.
90,489.
12,213,510. 16,172,389.
489,980.
288,995.
17,466,744. 19,404,458.
1,499,578.
391,785.
7,354,756.
9,517,209.
3,385,656.
3,801,466.
0.0
5,226,754.
5,693,998.
8,602,201. 10,697,859.
803,756.
1,483,847.
7,798,445.
9,214,012.
15,529,224. 15,869,169.
12,300,041. 12,352,795.
440,000.
352,000.
11,691.
23,383.
2,777,492.
3,140,991.
37,535,539. 40,596,481.
6,848,777.
6,941,602.
2,238,856.
2,331,681.
4,609,921.
4,609,921.
30,387,323. 33,357,227.
2,605,875.
2,605,875.
27,781,448. 30,751,352.
299,439.
297,652.

27,303,483.
26,521,409.
782,074.
25,858,516.
17,091,175.
8,767,341.
1,444,967.
3,502,510.
591,433.
2,911,077.
736,219.
2,920,060.
1,264,049.
4,782,153.
2,590,104.
487,483.
0.0
-611306

34,933,978. 39,339,797.
33,651,298. 39,092,216.
1,282,680.
247,581.
31,305,426. 35,536,952.
19,668,292. 22,466,343.
11,637,134. 13,070,609.
3,628,552.
3,802,845.
1,837,598.
2,139,380.
754,873.
783,153.
1,082,725.
1,356,227.
2,512,428.
3,004,564.
2,582,706.
2,835,116.
1,014,784.
2,378,099.
831,936.
148,040.
547,064.
507,540.
489,358.
352,319.
35,449.
43,031.
889,305. -1287363

49,862,287.
17,009,459.
1,704,566.
17,439,967.

53,064,763. 56,465,650.
12,300,041. 12,352,795.
-204486
-711819
13,103,797. 13,836,642.

.59
10.69
11.86
.48
2.19
94.71

.57
7.39
9.69
.57
2.03
89.61

.39
7.21
9.66
.59
1.81
90.33

.96
15.79
28.54
18.83
52.28
5.19
-

1.39
.64
1.4
.81
.94
3.46
-

32.31
0.0
31.56
128.96

1.41
0.0
.53
104.74

.93
8.54
18.21
10.53
4.5
3.78
4.78
17.51
-.02
9.66
130.2

.64
1.4
2.48
1.62
.58
4.75
1.82
2.38
.04
1.26
165.44

.65
.23
.38
.27
-1.02
4.13
1.06
.38
-.05
-1.52
171.9

0.0

Growth with Composition of

60
50
40
30
Billion Rs
20
10

7.5%

0
Non-Current Assets

Current Assets
2010

Growth & Composition of Operations

45
40
35
30
25

11.2%

20
Billion Rs
15
10
5
0
Sales

Profitability/Efficiency Ratios
2.5

2.48

2
1.4

1.62

0.23

0.38

1.5

Percentage 1
0.5
0

Return on Return on Return on

Assets
Equity
Capital
Employed

Growth with Composition of Assets & Liabilities

Current Assets

19.6%

10.%

2.1%
Current Liabilities

Non-Current Shareholders Equity

Liabilities
Growth

2011

omposition of Operations
2010

2011

4.6%

-462.%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

2010

2.38
2.5

2011

2.03 1.81

2
1.5
1

0.64 0.65
.5

0
0.27 -1

-2

-0.5 Percentage Current

Ratio
-1.5

Debt
Equity
Ratio

Net Profit Earning

Margin

2,500.%
2,000.%

1,500.%
1,000.%
7.5%
500.%
0.0%

Growth
10,000.%
0.0%
-10,000.%
-20,000.%

-30,000.%
-40,000.%

-50,000.%

2010
2011
1.26

.38

Net Profit Earning

Per Share
after Tax
-1.52

Baluchistan Particle Board Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
5,741.
22,880.
5,741.
560.
0.0
6,874.
1,548.
0.0
0.0
0.0
5,326.
27,367.
0.0
27,367.
0.0
0.0
0.0
-14752
30,000.
30,000.
0.0
-44752
0.0
0.0
0.0
0.0
0.0
1,598.
1,598.
0.0
235.
9.
0.0
0.0
-14752
0.0
226.
0.0
.06
0.0
.25
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-1.86
1.8
-1.58
-1.58
0.0
.04
-2.46
447

2011

Financial Statement Analysis of Non Financial Sector

2007

2008

2009

5,237.
-

4,783.

4,487.

22,880.
5,237.
504.
0.0

22,880.
4,783.
454.
0.0

22,880.
4,374.
409.
-

7,885.
2,665.
0.0
0.0
0.0
5,220.
27,390.
0.0
27,390.
0.0

7,422.
2,306.
0.0
0.0
0.0
5,116.
25,860.
0.0
25,860.
0.0

113.
8,155.
3,178.
0.0
4,977.
769.
769.
25,000.

0.0

0.0

0.0
0.0
25,000.
-13127
30,000.
30,000.
0.0
0.0

0.0
-14268
30,000.
30,000.
0.0
-44268
-

0.0
-13655
30,000.
30,000.
0.0
-43655
-43127
-

0.0
0.0
0.0
0.0
-

0.0
0.0
0.0
0.0

0.0

0.0
1,473.

0.0
1,657.

1,473.

1,657.

1,330.

98.

0.0
723.
110.
0.0
0.0

.1
-

0.0
912.
-

1,345.
152.
-

912.
76.
-

1,215.
281.
-

1,982.
350.
0.0
2,032.

0.0
613.
0.0

11,873.
0.0
528.
0.0

12,807.
25,000.
934.
25,000.

9,439.
20,000.
1,632.
20,000.

.09

0.0

5.98
-

0.0
.29
-

0.0
-

0.0
1,345.

743.
215.

0.0
.29

0.0

0.0
1,368.

-13655
0.0
484.
0.0

0.0
-

0.0
872.

-14268

584.
100.
0.0
0.0

0.0
-

0.0

0.0
1,330.

(Thousand Rupees)
2010
2011
4,119.
3,785.
22,880.
22,880.
4,006.
4,006.
368.
368.
113. -221
9,448.
6,414.
4,546.
4,546.
0.0
0.0
4,902.
1,868.
760.
760.
760.
760.
25,000.
20,000.
25,000.
20,000.
-12193
-10561
30,000.
30,000.
30,000.
30,000.
0.0
0.0
-42193
-40561
-42193
-40561
0.0 -

0.0
10.6

5.98
-

0.0
12.43
-

0.0
8.44
-

-1.92
4.54
-4.02
-4.02
-

-1.89
5.71
-5.18
-5.18
-

0.0
.16
-4.76

-1.96
5.98
-5.55
-83.39

-2.11
9.27
-9.6
9.85
-

0.0
0.0
.1
-2.28

.03
.09
-2.19

-1.97
16.68
-17.42
17.82
-

.05
.16
-2.03

.1
.27
-1.76

Central Forest Products Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
73,416.
111,003.
73,416.
5,322.
0.0

231,187.
1,236.
222,519.
0.0
0.0
7,432.
321,806.
114,937.
206,869.
80.

0.0
80.
-17283
30,000.
30,000.
0.0
-47283

0.0
0.0
0.0
0.0

0.0
1,552.
1,552.
3,325.
-4877
0.0
0.0
0.0

-17203
0.0
-4877
114,937.
0.0

0.0
.72

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-18.62
-1.62
34.01
34.32
0.0

0.0
-1.63
-5.76
448

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
69,106.

64,726.
-

111,625.
69,106.
4,932.
0.0
-

2009

238,171.
1,271.
230,326.
0.0
0.0
6,574.
326,600.
101,531.
225,069.
0.0
-

111,794.
64,726.
4,550.
0.0 243,669.
197.
236,946.
0.0 0.0
6,526.
329,165.
101,531. 227,634.
0.0
0.0

0.0
-19323
30,000.
30,000.
0.0
-49323
-

0.0
-20770
30,000.
30,000.
0.0
-50770
-

0.0
0.0
0.0
0.0

0.0
0.0
0.0
0.0

0.0

0.0
1,870.

0.0
1,440.
-

1,870.
-

-2041

1,440.
-

171.

6.
-1446

0.0
0.0
0.0
-

0.0
0.0
0.0
-

-19323

-20770
0.0

0.0

-2041
-1446
101,531.
101,531.
0.0
-

0.0
-

0.0
.73
-

0.0
.74
-

60,563.
111,353.
60,471.
4,144.

92.
249,609.
118.
243,595.
0.0
5,896.
255,405.
255,405.
71,261.

0.0
0.0
71,261.
-16494
30,000.
30,000.
0.0
-46494
-46494
-

(Thousand Rupees)
2010
2011
56,742.
53,252.
111,353.
111,353.
56,669.
53,179.
3,801.
3,491.
73.
73.
251,103.
251,289.
90.
100.
245,568.
245,568.
0.0
0.0
5,445.
5,621.
255,595.
254,244.
255,595.
254,244.
71,284.
70,761.
84.
314.
71,200.
70,447.
-19034
-20464
30,000.
30,000.
30,000.
30,000.
0.0
0.0
-49034
-50464
-49034
-50464
-

6,880.
0.0
0.0
2,509.
0.0
0.0
4,371. 5,104.
0.0
0.0
5,104.
0.0
0.0
1,776.
0.0
0.0
2,489.
4,668.
5,741.
1,731.
180.
758.
4,488.
5,741.
361.
143.
277.
34. -1401
4,332. -2540
56. 29.
0.0
0.0
0.0
0.0
0.0
-1120
-46
-46
54,767.
52,250.
50,297.
0.0
0.0
0.0
-1430
4,276. -2540
0.0
0.0
0.0
0.0
.49 0.0 .02
.98
74.19 -

0.0

0.0
-

0.0
.98

0.0
.99
-

-16.9
-.67
11.15
11.18
-

-15.85
-.47
7.21
7.21
-

0.0
-

0.0

0.0
-.68
-6.44

-19.81
1.4
-23.25
25.48

0.0
-.48
-6.92

-15.88
-.46
7.09
-2.73

0.0

0.0

.03

-17.17
-.82
14.3
-4.75

62.97 0.0
1.43
-5.5

0.0
-.85
-6.34

0.0
-.48
-6.82

Century Paper & Board Mills Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,377,138.
4,904,153.
3,376,930.
246,486.
208.

1,061,371.
21,775.
424,940.
216,038.
165,595.
233,023.
1,177,020.
571,796.
605,224.
440,476.

0.0
440,476.
2,821,013.
642,576.
642,576.
0.0
2,178,437.

3,843,935.
3,843,935.
0.0
3,385,320.

458,615.
121,777.
121,777.
78,071.
308,222.
17,091.
0.0
0.0

3,261,489.
0.0
291,131.
571,796.
.34
2.03
5.62
.87
.9
88.07

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.57
8.46
14.32
11.68
9.05
8.02
0.0
4.53
43.9
449

2011

Financial Statement Analysis of Non Financial Sector

2007
8,596,373.
10,232,680.
8,589,883.
246,484.
6,490.
1,040,925.
21,806.
455,862.
280,801.
0.0
282,456.
3,151,875.
567,553.
2,584,322.
3,580,952.
0.0
3,580,952.
2,904,471.
642,576.
642,576.
0.0
2,261,895.
-

2008
10,881,147.
5,900,257.
10,855,498.
288,791.
25,649.
2,521,390.
16,474.
1,496,478.
413,171.
0.0
595,267.
4,948,487.
1,643,545.
3,304,942.
5,521,428.
0.0
5,521,428.
2,932,622.
706,834.
706,834.
0.0
2,225,788.
-

4,415,467.
4,415,467.
0.0
4,109,883.
-

305,584.
128,696.

128,696.

89,768.

124,182.
38,565.
0.0
64,258.

6,485,423.
0.0
85,617.
567,553.
.1
2.03
6.36
.46
.33
93.08

2009
10,701,086.
296,362.
12,902,270.
10,157,985.
696,224.
49,664.
197,075.
3,076,057.
406,851.
1,357,453.
504,129.
0.0
807,624.
3,003,665.
3,003,665.
8,895,000.
8,895,000.
0.0
0.0
1,878,478.
706,834.
706,834.
0.0
1,171,644.
1,171,644.
-

5,036,261.
7,152,092.
5,036,261.
7,152,092.
0.0 4,717,895.
7,226,388.
4,546,513.
2,679,875.
318,366. -74296
221,743.
280,987.
58,067.
221,743.
222,920.
427,758.
99,693.
1,300,208.
37,053. -1594609
23,913.
540,465.
0.0 0.0
0.0
-210604
8,454,050. 10,773,478.
0.0
8,895,000.
13,140. -2135074
1,643,545.
8,895,000.
.09
1.98
8.2
.38
.51
93.68

.3
18.18
7.05
.52
1.02
101.04

(Thousand Rupees)
2010
2011
10,140,633.
9,422,576.
28,416.
19,198.
13,330,594. 13,575,787.
9,850,801.
9,365,235.
743,407.
743,768.
41,463.
31,286.
219,953.
6,857.
3,928,645.
4,645,925.
264,930.
129,919.
1,868,914.
2,669,500.
759,663.
735,847.
0.0
1,035,138.
1,110,659.
3,949,721.
4,393,829.
3,949,721.
4,393,829.
4,225,000.
3,375,000.
4,225,000.
3,375,000.
5,894,557.
6,299,672.
3,710,880.
3,710,880.
706,834.
706,834.
3,004,046.
3,004,046.
2,183,677.
2,588,792.
1,000,000.
1,000,000.
1,183,677.
1,588,792.
9,702,311.
9,702,311.

11,779,054.
11,779,054.

8,255,272.
5,270,028.
2,985,244.
1,447,039.
309,643.
79,532.
230,111.
489,143.
1,137,075.

9,769,526.
6,772,721.
2,996,805.
2,009,528.
400,190.
105,160.
295,030.
578,788.
963,042.
960,046.
734,694.
118,195.

74,657.
48,916.
0.0
0.0
-473173

0.0
734,798.

10,119,557.
4,225,000.
25,741.
4,225,000.

9,674,672.
3,375,000.
616,499.
3,375,000.

.26
11.72
7.83
.69
.99
85.09

.2
8.18
6.25
.84
1.06
82.94

2.32
1.76
4.34
2.55
-

3.57
.32
1.27
.5
-

9.69
-

3.37

2.81
0.0
1.33
45.2

6.33
-11.73
-66.29
-16.59

1.23
5.22
13.13
7.42

5.19

4.41
1.77
6.24
.09
8.72
89.13

5.27

.74
0.0
.19
41.49

1.39
.54
1.92
.71

-22.3
-.02
-30.21
26.58

.77
-.06
.36
83.39

Cherat Packaging Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
165,461.
255,943.
165,461.
13,592.
0.0

533,936.
39,170.
297,100.
118,260.
44,428.
34,978.
320,562.
135,511.
185,051.
75,000.

0.0
75,000.
303,835.
58,752.
58,752.
0.0
245,083.

914,451.
906,138.
8,313.
874,858.

39,593.
21,630.
21,630.
15,203.
9,910.
3,978.
8,813.
0.0

378,835.
0.0
-2881
135,511.
.63
1.66
12.93
1.31
1.67
95.67

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.3
1.54
3.29
2.55
.67
3.08
1.08
0.0
1.01
51.71
450

Financial Statement Analysis of Non Financial Sector

2007
152,484.
256,852.
152,484.
13,910.
0.0
717,797.
19,998.
513,143.
106,236.
50,181.
28,239.
445,688.
146,458.
299,230.
50,000.
0.0
50,000.
374,593.
58,752.
58,752.
0.0
315,841.
-

2008
196,061.
312,948.
196,061.
13,270.
0.0
1,344,889.
9,829.
973,484.
4,354.
50,471.
306,751.
1,088,448.
736,764.
351,684.
25,000.
0.0
25,000.
427,502.
73,440.
73,440.
0.0
354,062.
-

1,350,948.
1,344,258.
6,690.
1,187,865.
-

163,083.
32,982.

32,982.

27,808.

116,207.
13,935.
11,750.
14,688.

424,593.
0.0
90,522.
146,458.
.4
2.06
7.86
1.55
1.61
87.93

2009
398,516.
4,166.
526,608.
389,641.
20,080.
541.
2,994.
1,174.
1,117,554.
7,905.
700,688.
245,388.
0.0
163,573.
993,912.
993,912.
143,882.
143,882.
0.0
0.0
378,276.
91,800.
91,800.
0.0
286,476.
286,476.
-

2011

(Thousand Rupees)
2010
2011
378,106.
508,555.
108,812.
535,580.
547,312.
369,619.
349,788.
32,721.
31,908.
5,143.
6,375.
2,040.
1,991.
1,304.
41,589.
742,856.
1,281,665.
7,264.
8,770.
386,135.
878,155.
229,308.
268,224.
0.0
0.0
120,149.
126,516.
551,753.
855,903.
551,753.
855,903.
95,568.
56,250.
93,750.
56,250.
1,818.
473,641.
878,067.
91,800.
172,125.
91,800.
172,125.
0.0
0.0
381,841.
705,942.
381,841.
705,942.
-

2,146,812.
2,060,614.
1,985,235.
2,471,964.
2,139,949.
2,060,614.
1,985,235.
2,471,964.
6,863. 1,968,658.
1,919,207.
1,749,546.
2,168,243.
1,821,762.
1,605,505.
2,064,036.
97,445.
144,041.
104,207.
178,154.
141,407.
235,689.
303,721.
35,024.
33,243.
48,121.
69,653.
20,253.
25,026.
29,639.
35,024.
12,990.
23,095.
40,014.
6,726.
8,926.
68,244.
48,391.
176,748.
96,873.
71,221.
160,348.
96,329.
70,720.
104,426. -58351
95,442.
165,811.
23,937.
23,140.
9,937.
26,037.
11,016. 0.0
18,360.
0.0
22,950.
43,031.
127,638.
574,240. -286797
452,502.
522,158.
0.0
143,882.
69,473. -81491
736,764.
143,882.
.06
2.25
.2
1.39
1.24
91.7

.25
8.58
11.91
1.36
1.12
93.14

569,209.
93,750.
85,505.
93,750.

934,317.
56,250.
139,774.
56,250.

.43
4.88
11.55
1.77
1.35
88.13

.32
2.88
10.85
1.38
1.5
87.71

1.32
14.81
34.26
28.93
8.7
2.63
-

2.6
8.66
26.04
23.81
7.31 2.21
-

8.6
0.0
17.41
63.76

4.86
0.0
10.96
58.21

3.01
-3.82
-14.48
-11.97

1.37
7.24
22.41
17.49

1.04
11.39
24.53
22.06

5.14
1.99
4.81
.89
9.31
51.59

2.81
3.34
6.71
-.31
8.12
51.01

2.94
.64
-2.83
.11
-8.88
41.21

Dadabhoy Sack Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
59,551.
69,916.
59,551.
5,995.
0.0

33,158.
806.
11,001.
8,502.
0.0
12,849.
17,116.
2,550.
14,566.
15,423.

0.0
15,423.
60,170.
40,000.
40,000.
0.0
20,170.

96,831.
96,831.
0.0
77,793.

19,038.
17,272.
17,272.
1,200.
750.
1,260.
0.0
0.0

75,593.
0.0
-510
2,550.
.54
1.24
8.78
1.04
1.94
80.34

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.54
.97
1.42
1.19
8.8
.77
0.0
-.13
15.04
451

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
54,290.

47,805.
-

69,953.
54,290.
5,298.
0.0
-

38,762.
320.
4,837.
17,977.
0.0
15,628.
18,512.
2,932.
15,580.
12,660.

0.0
12,660.
61,880.
40,000.
40,000.
0.0
21,880.

69,402.
69,402.
0.0
54,709.

2009
41,379.
60,291.
47,805.
4,841.
0.0 34,810.
285.
0.0
20,445.
0.0
14,080.
25,182.
5,841. 19,341.
8,760.
0.0 8,760.
48,673.
40,000.
40,000.
0.0
8,673.
-

61,486.
36,961.
2,377.

4,418.
28,928.
291.
2,408.
20,841.
0.0
5,388.
16,677.
16,677.
12,346.

12,346.
41,284.
40,000.
40,000.
0.0
1,284.
1,284.

47,500.
47,500.
0.0 50,229.
-

14,693. -2729
12,169.
9,581.
12,169.
9,581.
1,844.
1,533.
694. -13445
673.
207.
0.0
0.0
0.0
0.0
-

(Thousand Rupees)
2010
2011
40,320.
39,405.
61,487.
61,487.
35,901.
34,986.
1,060.
915.
4,419.
4,419.
27,492.
25,492.
137.
137.
20,841.
20,841.
0.0
6,514.
4,514.
16,148.
14,177.
16,148.
14,177.
9,892.
4,574.
2,571.
103.
7,321.
4,471.
41,772.
46,146.
40,000.
40,000.
40,000.
40,000.
0.0
0.0
-12076
-7702
-12076
-7702
13,848.
13,848.

3,750.
3,750. 3,350.
3,350. 400.
4,561.
4,561.
1,375. -

-4161
-

.82
3.23
43.04
.57
1.38
105.75

0.0
-

0.0

0.0
-

0.0
1,389.

0.0
3,233.

1,389.

3,233.

1.

2.

488. -766

0.0
2,445. -154

74,540.
57,433.
53,630.
0.0
0.0
0.0
-4161
21. -13652
2,932.
5,841.
0.0
.99
2.66
25.9
.75
2.09
78.83

0.0

1.27
0.0 555.76 .05
1.73
89.33 -

0.0

0.0
0.0

51,664.
50,720.
0.0
0.0
488. -766
0.0
0.0
1.3

1.48
-

0.0
1.7

0.0
1.8
-

.5
.75
1.14
.92
-

14.35 1.
0.0
.01
15.47

.7
-15.31
-24.32
-20.38

.7
-5.44
-9.25
-7.49
-

-28.31
0.0
-3.41
12.17

1.56 -110.96 .08

-1.04
10.32

.62
.71
1.18
.93

.41
-1.15
-1.74
-1.5
-

-.01
.12
10.44

0.0
-.19
11.54

Merit Packaging Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
393,771.
493,606.
393,771.
32,424.
0.0

115,693.
233.
56,717.
26,292.
0.0
32,451.
155,335.
92,852.
62,483.
132,221.

0.0
132,221.
221,908.
27,495.
27,495.
0.0
194,413.

606,556.
606,556.
0.0
516,423.

90,133.
23,931.
23,931.
24,005.
43,042.
2,637.
9,623.
0.0

354,129.
0.0
30,782.
92,852.
.17
3.96
4.33
1.19
.74
85.14

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.3
8.66
20.21
12.18
4.2
10.69
7.1
0.0
14.7
80.71
452

Financial Statement Analysis of Non Financial Sector

2007
420,340.
555,573.
419,538.
34,090.
802.
121,982.
270.
61,714.
26,755.
0.0
33,243.
183,784.
100,736.
83,048.
118,511.
0.0
118,511.
240,027.
27,495.
27,495.
0.0
212,532.
-

2008
605,166.
743,117.
602,370.
31,903.
2,796.
236,840.
696.
110,681.
55,751.
0.0
69,712.
504,593.
140,579.
364,014.
88,234.
0.0
88,234.
249,179.
41,242.
41,242.
0.0
207,937.
-

673,574.
673,574.
0.0
568,807.
-

652,215.
652,215.
0.0 588,695.
-

104,767.
33,780.
-

63,520.
24,968.
-

33,780.
-

24,968.
-

25,962.

29,395.
-

45,623.
11,381.
0.0
13,747.
-

10,806.
2,789.
0.0
6,186.
-

358,538.
0.0
34,242.
100,736.
.15
3.85
3.97
1.24
.66
84.45

2009
699,861.
2,567.
865,666.
682,915.
44,727.
4,824.
9,555.
282,561.
583.
111,183.
100,767.
0.0
70,028.
344,074.
344,074.
382,371.
0.0
0.0
382,371.
255,977.
47,429.
47,429.
0.0
71,210.
71,210.
137,338.

2011

(Thousand Rupees)
2010
2011
663,143.
627,285.
2,880.
873,720.
892,909.
649,865.
619,653.
49,309.
51,719.
3,843.
2,994.
6,555.
4,638.
517,508.
645,852.
499.
549.
253,640.
255,363.
180,821.
300,931.
0.0
82,548.
89,009.
476,224.
668,345.
292,317.
313,620.
183,907.
354,725.
467,142.
357,231.
440,000.
352,000.
27,142.
5,231.
237,285.
247,561.
47,428.
47,428.
47,428.
47,428.
0.0
0.0
53,364.
64,440.
53,364.
64,440.
136,493.
135,693.

808,840.
808,840.

1,076,104.
1,076,104.
-

766,138.
984,507.
1,589,456.
584,419.
786,327.
786,327.
181,719.
198,180.
803,129.
42,702.
91,597.
164,425.
32,826.
45,073.
57,255.
11,287.
17,856.
23,116.
21,539.
27,217.
34,139.
76,377.
92,271.
110,716.
67,605.
76,997.
95,195.
66,643.
76,462.
94,053.
-56217
-28780
16,622.
18,872.
5,380.
18,160.
0.0
0.0
0.0
0.0
0.0
-82792
-131218
-72728

.29
8.36
12.46
.82
.82
94.72

1,753,881.
1,753,881.

337,413.
638,348.
704,427.
604,792.
0.0
0.0
0.0
0.0
-34160
-1538
8,017. -75089
140,579.
0.0
292,317.
313,620.
.11
4.51
8.55
.77
.47
90.26

.38
7.16
16.8
.91
1.09
91.49

.45
5.43
17.16
1.38
.97
90.63

1.26
8.68
19.75
12.8
-

2.38
1.56
4.42
3.11
-

10.91
-

5.89

6.77
0.0
12.45
87.3

2.84
-6.16
-22.26
-11.52

1.66
0.0
1.94
60.42

3.98
-2.66
-11.67
-4.29

4.14
1.35
6.86
2.54

4.24
.62
-2.67
-.14
-7.2
50.03

6.87
1.18
.95
-.07
-.32
52.2

7.27
.16
-6.95
-.11
-15.83
53.97

Packages Ltd.
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
13,233,166.
18,093,433.
13,230,634.
376,408.
2,532.

9,440,310.
106,703.
1,647,173.
821,160.
5,775,665.
1,089,609.
3,000,679.
1,281,708.
1,718,971.
6,000,000.

6,000,000.
13,672,797.
698,795.
698,795.
12,974,002.

9,998,559.
9,816,767.
181,792.
8,428,941.

1,569,618.
880,026.
880,026.
116,924.
6,169,017.
198,145.
419,277.
34,940.

19,672,797.
5,551,595.
1,281,708.
2.23
1.17
8.21
.44
3.15
84.3

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.66
35.98
57.59
43.4
14.24
6.07
61.7
0.0
85.45
195.66
453

2011

Financial Statement Analysis of Non Financial Sector

2007
18,188,354.
23,566,349.
18,187,991.
554,240.
363.
15,250,089.
101,022.
2,206,191.
1,288,928.
10,080,259.
1,573,689.
2,921,171.
401,019.
2,520,152.
12,346,500.
0.0
0.0
12,346,500.
18,170,772.
733,735.
733,735.
0.0
0.0
17,437,037.
-

2008
19,466,067.
25,665,119.
19,465,826.
885,611.
241.
15,568,566.
199,188.
3,652,261.
1,523,049.
8,362,485.
1,831,583.
6,457,661.
3,137,819.
3,319,842.
12,304,400.
0.0
12,304,400.
16,272,572.
843,795.
843,795.
0.0
15,428,777.
-

2009
27,872,034.
65,578.
27,427,520.
19,513,093.
1,368,499.
16,605.
4,561,548.
3,715,210.
8,746,472.
497,313.
4,483,990.
2,031,990.
0.0
1,733,179.
2,239,661.
430,508.
1,809,153.
10,634,454.
7,970,577.
0.0
5,218.
2,658,659.
23,744,391.
2,449,670.
843,795.
1,605,875.
21,294,721.
21,294,721.
-

11,686,414.
11,494,329.
192,085.
10,180,575.

14,300,923.
13,697,837.
603,086.
13,357,624.

15,830,208.
15,052,505.
777,703.
15,028,289.
9,636,519.
5,391,770.
801,919.
2,956,604.
493,158.
2,463,446.

1,505,839.
852,768.

943,299.
874,938.
-

852,768.
-

413,266.

5,537,975.
94,800.
0.0
110,060.

0.0

874,938.
-

1,662,094.

1,370,630.
1,034,553.
-307889
5,950,925.
10,000.
1,831,382.
0.0
274,233.
0.0
0.0
-756323
-

30,517,272. 28,576,972.
0.0
0.0
5,443,175. -317889
401,019.
3,137,819.
3.93
3.54
11.03
.35
5.22
87.11

1.56
11.62
10.65
.41
2.41
93.4

34,378,845.
7,970,577.
3,845,310.
8,401,085.
1.13
8.66
12.84
.43
3.91
94.93

(Thousand Rupees)
2010
2011
31,430,629. 35,111,548.
753,328.
125,683.
27,671,781. 29,031,170.
18,209,643. 18,559,649.
1,582,728.
1,657,404.
16,099.
49,834.
12,211,470. 16,170,398.
240,089.
205,984.
9,461,682.
9,803,228.
1,166,449.
200,320.
4,163,403.
5,029,241.
1,947,316.
2,109,537.
0.0
2,184,514.
2,464,130.
2,943,732.
3,938,979.
511,439.
1,170,227.
2,432,293.
2,768,752.
10,469,015. 11,400,512.
7,956,291.
8,575,339.
6,663.
20,307.
2,506,061.
2,804,866.
27,479,564. 29,575,285.
2,449,670.
2,449,670.
843,795.
843,795.
1,605,875.
1,605,875.
25,029,894. 27,125,615.
1,605,875.
1,605,875.
23,424,019. 25,519,740.
20,695,791. 21,649,196.
19,413,111. 21,401,615.
1,282,680.
247,581.
19,377,734. 20,762,856.
11,494,979. 12,155,267.
7,882,755.
8,607,589.
1,318,057.
886,340.
1,253,803.
1,401,025.
625,453.
616,624.
628,350.
784,401.
1,649,188.
1,936,027.
1,267,253.
1,694,063.
839,218.
1,242,334.
119,176. -1252984
307,213.
306,437.
274,233.
126,569.
0.0
609,367. -1971031
37,948,579. 40,975,797.
7,956,291.
8,575,339.
-462270
-1685990
8,467,730.
9,745,566.
1.06
6.12
9.41
.51
3.21
93.63

.59
7.83
9.74
.48
2.49
95.91

.84
19.74
34.78
22.07
-

1.15
-.9
-1.79
-1.04
-

5.3
-

3.92
-

47.39
0.0
74.18
247.65

-2.15
0.0
-3.77
192.85

.54
16.61
29.74
18.91
15.02
3.53
6.75
37.59
-.06
48.82
281.4

.49
.31
.47
.33
-.69
4.97
1.14
.58
.05
-2.23
325.67

.52
-2.92
-4.39
-3.18
-12.32
4.3
-.01
-5.79
-.13
-18.48
350.5

0.0

Pakistan Paper Products Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
187,602.
192,646.
187,602.
4,448.
0.0

102,090.
21,031.
47,149.
28,194.
0.0
5,716.
34,181.
0.0
34,181.
0.0

0.0
0.0
255,511.
25,000.
25,000.
0.0
230,511.

227,670.
227,670.
0.0
161,939.

65,731.
18,320.
18,320.
289.
48,229.
16,872.
17,500.
0.0

255,511.
0.0
13,857.
0.0
1.44
.13
12.38
.79
2.99
71.13

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.13
17.18
19.45
19.45
1.79
4.83
21.18
0.0
12.54
102.2
454

Financial Statement Analysis of Non Financial Sector

2007
217,734.
188,319.
217,734.
7,561.
0.0
117,196.
20,886.
60,256.
28,747.
0.0
7,307.
46,900.
3,714.
43,186.
17,284.
0.0
17,284.
270,746.
25,000.
25,000.
0.0
245,746.
-

2008
212,030.
232,043.
212,030.
8,122.
0.0
139,440.
16,538.
74,973.
37,124.
0.0
10,805.
61,470.
4,275.
57,195.
12,994.
0.0
12,994.
277,006.
25,000.
25,000.
0.0
252,006.
-

221,961.
221,961.
0.0
160,638.
-

241,726.
241,726.
0.0 183,174.
-

61,323.
17,676.
-

58,552.
18,018.
-

17,676.
-

18,018.
-

2,252.

2,510.
-

42,791.
0.0
17,500.
0.0
-

2009
215,864.
241,039.
213,278.
7,796.
2,586.
136,569.
12,404.
65,329.
43,615.
0.0
15,221.
33,752.
33,752.
17,948.
0.0
2,016.
15,932.
300,733.
37,500.
37,500.
0.0
113,567.
113,567.
149,666.

39,440.
14,793.
10,000.
12,500.
-

2011

(Thousand Rupees)
2010
2011
224,906.
261,216.
9,707.
2,905.
250,223.
303,973.
214,983.
250,091.
7,984.
10,816.
216.
8,220.
155,666.
179,640.
5,906.
9,852.
79,329.
82,118.
44,687.
39,731.
0.0
0.0
25,744.
47,939.
41,247.
50,800.
41,247.
50,800.
10,063.
29,292.
10,300.
2,373.
2,659.
7,690.
16,333.
329,262.
360,764.
37,500.
50,000.
37,500.
50,000.
0.0
0.0
142,664.
162,653.
142,664.
162,653.
149,098.
148,111.

312,029.
312,029.

322,026.
322,026.

382,683.
382,683.

241,232.
181,328.
59,904.
70,797.
22,462.
6,937.
15,525.
34,060.
3,048.
879.
46,280.
14,918.
7,500.
0.0
20,335.

244,035.
203,190.
40,845.
77,991.
23,991.
6,826.
17,165.
35,756.
2,632.
1,343.
52,021.
15,991.
9,375.
12,499.
22,586.

287,852.
237,081.
50,771.
94,831.
27,649.
8,614.
19,035.
39,987.
5,222.
5,032.
62,554.
12,985.
20,000.
71,725.

288,030.
0.0
25,291.
3,714.

290,000.
0.0
14,647.
4,275.

318,681.
0.0
23,862.
0.0

339,325.
0.0
26,655.
0.0

390,056.
10,300.
29,569.
10,300.

1.06
1.01
12.95
.66
2.5
72.37

.87
1.04
15.36
.69
2.27
75.78

1.66
.98
13.98
.89
4.05
77.31

1.23
.82
13.88
.85
3.77
75.78

.98
1.36
10.38
.87
3.54
75.22

.24
13.7
16.26
15.75
2.45
3.68
-

.27
11.49
14.4
13.65
2.46
3.22
-

19.28
0.0
17.12
108.3

16.32
0.0
9.86
110.8

.17
13.15
16.02
15.21
4.18
4.78
53.65
14.83
.39
8.36
80.2

.16
14.19
16.51
15.81
3.84
4.06
39.73
16.15
.44
9.61
87.8

.22
15.23
18.13
17.15
2.48
4.66
13.43
16.35
.9
9.91
72.15

Security Papers Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,310,034.
1,615,514.
1,310,034.
95,539.
0.0

1,182,166.
185,127.
169,947.
108,132.
167,043.
551,917.
189,063.
0.0
189,063.
0.0

0.0
0.0
2,303,137.
219,818.
219,818.
0.0
2,083,319.

1,104,666.
1,104,666.
0.0
645,295.

459,371.
86,655.
86,655.
170.
435,962.
109,892.
65,945.
65,945.

2,303,137.
0.0
260,125.
0.0
2.43
.02
9.79
.44
6.25
58.42

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.08
18.62
20.17
20.17
4.94
6.5
39.47
0.0
14.83
104.77
455

Financial Statement Analysis of Non Financial Sector

2007
1,244,199.
1,648,193.
1,244,199.
98,514.
0.0
1,584,043.
178,977.
228,250.
63,777.
270,117.
842,922.
280,464.
0.0
280,464.
0.0
0.0
0.0
2,547,778.
285,763.
285,763.
0.0
2,262,015.
-

2008
1,205,059.
1,697,237.
1,205,059.
101,265.
0.0
1,989,340.
158,074.
273,409.
264,137.
388,267.
905,453.
402,078.
1,338.
400,740.
4,848.
0.0
4,848.
2,787,473.
342,916.
342,916.
0.0
2,444,557.
-

1,099,009.
1,099,009.
0.0
643,843.
-

1,303,019.
1,303,019.

2,547,778.
0.0
233,270.
0.0

2,792,321.
0.0
234,435.
1,338.

3,110,507.
0.0
126,406.
0.0

3,266,945.
0.0
155,162.
0.0

3,775,560.
315,906.
190,432.
315,906.

1.83
.01
5.8
.39
5.65
58.58

2.02
.04
22.43
.37
4.95
60.39

1.07
.16
25.71
.33
6.43
59.24

.69
.16
17.62
.32
6.46
60.25

.7
.49
25.05
.3
4.92
73.6

88,777.

126.

454,163.
135,164.
85,729.
57,153.

(Thousand Rupees)
2010
2011
1,261,622.
1,731,429.
143,378.
1,948,628.
2,388,678.
1,244,364.
1,570,615.
114,490.
122,088.
17,258.
17,436.
2,372,344.
2,564,953.
49,757.
37,592.
357,767.
357,264.
203,020.
326,355.
0.0
0.0
1,761,800.
1,843,742.
367,021.
520,822.
367,021.
520,822.
156,260.
555,549.
315,906.
156,260.
239,643.
3,110,685.
3,220,011.
411,499.
411,499.
411,499.
411,499.
0.0
0.0
2,699,186.
2,808,512.
2,699,186.
2,808,512.
-

1,177,859.
1,129,070.
1,152,511.
1,177,859.
1,129,070.
1,152,511.
0.0 711,359.
668,808.
694,332.
320,634.
308,263.
348,174.
386,069.
466,500.
460,262.
458,179.
100,865.
167,681.
149,565.
100,865.
167,681.
149,565.
189,562.
236,849.
527.
1,787.
1,875.
1,626.
1,432.
477,452.
493,211.
520,257.
140,142.
161,056.
159,346.
102,875.
205,750.
205,750.
68,583.
0.0
0.0
288,243.
286,335.

455,166.
88,777.
-

2009
1,281,461.
3,044.
1,857,123.
1,261,660.
103,793.
16,757.
2,166,062.
69,388.
261,420.
290,289.
0.0
1,544,965.
337,016.
337,016.
140,616.
0.0
0.0
140,616.
2,969,891.
411,499.
411,499.
0.0
2,556,845.
2,556,845.
1,547.

2011

959,019.
450,911.
508,108.
344,000.
173,722.
173,722.
270,449.
6,371.
5,914.
421,528.
25,347.
205,750.
0.0
234,684.

.11
17.07
18.72
18.72
3.72
4.81
-

.15
15.86
17.9
17.88
3.28
4.31
-

41.32
0.0
11.16
89.16

40.54
0.0
9.84
81.29

.16
14.85
17.13
16.71
1.61
4.32
304.33
43.68
.6
8.07
72.17

.17
14.69
17.11
16.32
1.75
3.22
364.31
45.14
.55
8.77
75.59

.33
10.63
13.32
11.97
1.93
3.65
72.28
32.35
.22
9.63
78.25

ELECTRICAL MACHINERY &

APPARATUS

NERY &

Electrical Machinery and Apparatus - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
6,477,423.
8,590,256.
5,841,762.
410,069.
635,661.

21,554,463.
2,615,127.
6,637,279.
9,028,848.
555,654.
2,717,555.
19,478,010.
6,084,953.
13,393,057.
696,194.

0.0
696,194.
7,857,682.
1,939,693.
1,334,693.
605,000.
5,917,989.

39,348,089.
39,040,616.
307,473.
33,930,825.

5,417,264.
2,799,977.
2,799,977.
1,188,572.
2,350,604.
1,046,138.
536,208.
323,304.

8,553,876.
0.0
768,258.
6,084,953.
.63
3.02
22.95
1.4
1.11
86.23

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.57
9.7
31.86
29.08
2.43
5.93
5.97
0.0
9.77
58.87
458

Financial Statement Analysis of Non Financial Sector

(Thousand Rupees)
2007
2008
2009
2010
2011
8,499,498. 11,289,695. 19,904,242. 21,347,386. 21,945,547.
0.0
128,627.
395,576.
437,435.
11,085,144. 14,168,490. 20,927,684. 23,580,425. 25,101,324.
7,906,371. 10,698,965. 16,707,172. 18,030,842. 18,645,934.
544,027.
660,410.
612,257.
1,120,646.
1,129,179.
593,127.
587,306.
522,249.
464,098.
316,883.
3,424.
194,121.
13,447.
4,393.
0.0
2,352,073.
2,443,423.
2,540,902.
27,430,373. 37,353,866. 32,725,016. 37,034,676. 32,215,169.
4,241,685.
4,159,527.
1,948,194.
2,042,086.
1,424,164.
7,747,723. 10,425,175.
9,362,178. 11,258,369.
9,957,035.
11,169,330. 16,927,798. 18,172,862. 20,560,475. 18,517,267.
76,300.
144,522.
80,859.
17,385.
16,690.
4,195,335.
5,696,844.
3,160,923.
3,156,361.
2,300,013.
22,106,254. 30,623,393. 27,181,551. 30,565,314. 28,569,014.
7,428,879.
7,143,418.
5,580,304.
9,372,029.
9,661,030.
14,677,375. 23,479,975. 21,601,247. 21,193,285. 18,907,984.
1,964,076.
3,288,182.
8,266,180.
9,159,389.
7,768,864.
86,708.
4,451,131.
5,466,927.
4,849,163.
0.0
66,319.
169,527.
188,723.
0.0
0.0
0.0 0.0
21,706.
75,591.
85,444.
1,964,076.
3,201,474.
3,727,024.
3,447,344.
2,645,534.
11,859,541. 14,731,986. 17,181,527. 18,657,359. 17,822,838.
2,258,528.
2,466,022.
2,413,651.
2,669,943.
2,774,056.
1,653,528.
1,939,772.
2,413,651.
2,669,943.
2,774,056.
605,000.
526,250.
0.0 0.0
9,601,013. 12,154,980.
9,733,929. 10,177,694.
9,334,912.
0.0
916,999.
825,438.
1,352,543.
-61986
8,653,487.
9,352,256.
7,982,369.
110,984.
5,033,947.
5,809,722.
5,713,870.
44,493,378.
44,207,530.
285,848.
37,599,822.

6,893,556.
3,223,428.

3,223,428.
1,511,363.
3,089,860.
1,074,638.
792,228.
270,306.
-

2011

48,962,825. 45,938,809. 50,824,553. 33,847,048.

48,408,281. 23,913,194. 39,350,792. 29,096,292.
554,544. 22,025,615. 11,473,761.
4,750,756.
41,042,290. 39,560,587. 42,177,847. 29,492,731.
660,538.
6,798,305. 37,747,354. 25,050,091.
54,383. 32,762,282.
4,430,493.
4,442,640.
7,920,535.
6,378,222.
8,646,706.
4,354,317.
3,840,862.
3,033,308.
4,644,587.
4,105,939.
6,924.
1,889,635.
2,949,548.
2,561,403.
3,833,938.
1,143,673.
1,695,039.
1,544,536.
30,381.
3,429,402.
4,276,146.
3,778,851.
1,542,308.
1,261,239.
2,396,309.
1,945,525.
1,894.
400,617.
1,918,230.
1,679,882.
3,336,586.
2,558,610.
1,865,929. -1494228
973,493.
884,203.
1,055,572.
391,779.
742,230.
771,367.
2,479,437.
176,145.
53,970.
1,042,684.
34,114.
37,525.
-3458722
14,745. -461772
1,980,906.

13,823,617.
0.0
1,222,994.
7,428,879.

18,020,168.
86,708.
1,620,863.
7,230,126.

.7
3.4
25.1
1.24
1.24
84.51

.69
3.15
34.57
1.01
1.22
83.82

25,447,707. 27,816,748. 25,591,702.

4,451,131.
5,466,927.
4,849,163.
-2062152
903,040. -1669080
10,031,435. 14,838,956. 14,510,193.
.74
2.75
39.56
.87
1.2
86.12

.74
4.71
40.45
.87
1.21
82.99

.7
5.75
54.71
.62
1.13
87.14

2.03
9.66
31.34
27.62
2.54
5.74
-

2.3
7.89
25.1
20.96
3.18
4.7
-

6.94
0.0
12.19
71.72

6.81
0.0
12.18
75.95

2.06
5.05
16.03
11.77
2.17
4.91
7.39
5.57
-.01
6.94
71.18

2.13
3.36
10.41
7.01
.33
4.51

2.04
-2.66
-8.19
-5.6
-10.71
3.4
1.97

3.67
-.09
3.04
69.88

0.11
-4.41
.05
-6.8
64.25

40
35

Billion Rs

30
25
20
15
10
5
0
Non-Current Assets

Growth & Composition of Oper

60
50
40
30
Billion Rs

20
10
0
-10

Sales

Profitability/Efficiency Ratios
12
10
8
6
4
2
Percentage 0
-2
-4
-6
-8
-10

10.41

3.36

Return on Return on
Assets
-2.66 Equity

Growth with Composition of Assets & Liabilities

500.%
2.7%
0.0%
-4.7% -5%
-7.%
-1,000.%
-1,500.%

-15.%
-17.9%
Current AssetsCurrent Liabilities
2010

-2,000.%
Shareholders Equity

Non-Current
Liabilities

2011

Growth

Growth & Composition of Operations

2010

2011

Growth
25,000.%
224.9%
20,000.%
15,000.%
10,000.%
5,000.%
0.0%
-5,000.%
-10,000.%
-15,000.%

-50.2%
-98.6%
Gross Profit

Net Profit Before Tax

Key Performance Indicators

2010

7.01 2011

2
0

3.67

3.04

2.132.04
1.211.13

Current
-2
Ratio
Percentage -4

Debt
Equity
Ratio

Net
Profit
Margin

Return on

Earning
Per Share
after Tax
-4.41

-6
Capital
Employed

-5.6 -8

-6.8

-8.19
2010

459

2011

Ados Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
35,968.
0.0
35,968.
0.0
0.0

228,564.
34,797.
3,265.
163,642.
0.0
26,860.
188,865.
0.0
188,865.
0.0

0.0
0.0
75,667.
65,826.
65,826.
0.0
9,841.

359,670.
359,670.
0.0
323,888.

35,782.
24,166.
24,166.
841.
12,749.
1,835.
0.0
0.0

75,667.
0.0
10,914.
0.0
1.05
.23
45.5
1.36
1.21
90.05

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.5
6.69
17.43
17.43
110.16
3.54
0.0
1.66
11.5
460

Financial Statement Analysis of Non Financial Sector

2007

2008
38,058.

40,704.
-

112,340.
38,058.
4,343.
0.0
-

52,138.
43,389.
-

66,091.
-

43,389.
-

1,211.

710.
-

23,175.
6,166.
0.0
0.0
-

119,389.
40,704.
4,699.
0.0 -

12,338.
6,027.
0.0
0.0
-

138,978.
54,907.
84,070.

0.0
492,297.
226,438.
3,265.
205,997.
16,488.
40,109.
411,201.
411,201.
6,026.
2,491.
3,535.
129,977.
65,826.
65,826.
0.0
64,151.
1,488.
62,663.
-

336,974.
336,974.
0.0 284,836.

87,995.
66,091.
-

54,907.
-

344,732.
280,290.
263,757.
114,400.
3,265.
128,457.
65,515.
128,457.
0.0
15,960.
-106984
12,195.
312,961.
243,376.
0.0
0.0
312,961.
243,376.
0.0
0.0
0.0
0.0
0.0
0.0
69,829.
77,618.
65,826.
65,826.
65,826.
65,826.
0.0
0.0
4,003.
11,792.
790,611.
790,611.
0.0
702,616.

2009

2011

(Thousand Rupees)
2010
2011
68,212.
58,340.
157,255.
157,654.
66,101.
58,340.
7,083.
8,160.
2,111.
0.0
306,037.
409,769.
122,032.
269,603.
3,265.
4,105.
121,520.
56,982.
17,385.
16,690.
41,835.
62,389.
221,493.
300,071.
221,493.
300,071.
2,760.
5,312.
2,760.
3,687.
0.0
1,625.
149,996.
162,726.
65,826.
65,826.
65,826.
65,826.
84,170.
96,900.
2,385.
1,690.
81,785.
95,210.
-

795,783.
795,783.

535,180.
535,180.

462,366.
462,366.

647,225.
408,646.
577,996.
352,040.
69,229.
56,606.
148,558.
126,534.
82,111.
85,159.
41,376.
25,260.
40,735.
59,899.
14,033.
20,738.
673.
1,520.
183.
704.
76,366.
49,188.
24,536.
17,574.
13,165.
0.0
0.0
0.0
131,768. -81531

394,273.
332,805.
61,468.
68,093.
55,974.
23,190.
32,784.
20,195.
903.
509.
24,578.
6,130.
0.0
0.0
139,133.

69,829.
0.0
17,009.
0.0

77,618.
0.0
6,311.
0.0

136,003.
0.0
38,665.
0.0

152,756.
0.0
31,614.
0.0

168,038.
0.0
18,448.
0.0

1.05
.15
8.29
2.07
1.1
88.87

1.06
.21
38.12
1.05
1.15
84.53

1.09
.08
25.89
1.45
1.2
81.33

1.18
.28
22.71
1.43
1.38
76.36

1.14
.2
12.32
.99
1.37
85.27

4.48
7.16
31.86
31.86
-

3.14
3.51
16.74
16.74
-

242.15
-

2.62
-

2.93
0.0
2.58
10.61

3.66
0.0
.96
11.79

3.21
17.59
73.57
71.5
3.94 243.73
418.3
9.6
.32
7.87
19.75

1.5
10.68
35.14
34.07

1.88
5.84
15.72
15.32

163.91
70.87
9.19
-.36
4.8
22.79

112.63
49.29
5.32
.46
2.8
24.72

Johnson & Philips (Pakistan) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
122,845.
151,967.
122,845.
1,109.
0.0

113,762.
3,826.
40,935.
14,935.
0.0
54,066.
210,173.
1,439.
208,734.
3,506.

0.0
3,506.
22,928.
54,500.
54,500.
0.0
-31572

233,283.
233,283.
0.0
207,491.

25,792.
27,049.
27,049.
5,650.
6,917.
1,166.
0.0
0.0

26,434.
0.0
5,751.
1,439.
.09
2.42
6.4
.99
.54
88.94

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

9.32
3.17
31.64
22.24
5.7
2.97
0.0
1.06
4.21
461

Financial Statement Analysis of Non Financial Sector

2007
124,414.
162,242.
124,414.
8,798.
0.0
189,695.
10,252.
43,825.
55,472.
9,000.
71,146.
178,318.
0.0
178,318.
94,606.
0.0
94,606.
41,185.
54,500.
54,500.
0.0
-13315
-

2008
219,850.
254,064.
219,850.
10,126.
0.0
206,224.
14,232.
58,693.
30,900.
9,000.
93,399.
177,889.
10,300.
167,589.
79,199.
0.0
79,199.
168,986.
54,500.
54,500.
0.0
114,486.
-

377,443.
377,443.
0.0
309,295.
-

249,844.
249,844.
0.0 193,771.
-

68,148.
34,989.
-

56,073.
26,804.
-

34,989.
-

26,804.
-

9,964.

9,520.
-

24,820.
1,889.
0.0
0.0
-

24,977.
1,273.
0.0
0.0
-

135,791.
0.0
22,931.
0.0
.42
2.64
14.7
1.2
1.06
81.94

2009
210,599.
250,021.
209,386.
9,827.
1,213.
173,548.
4,110.
64,088.
30,902.
0.0
74,448.
208,016.
66,200.
141,816.
74,398.
0.0
66,319.
0.0
0.0
8,079.
101,733.
54,500.
54,500.
0.0
-84476
29,727.
-114203
131,709.

2011

(Thousand Rupees)
2010
2011
201,036.
192,816.
254,471.
254,666.
199,475.
191,255.
9,992.
8,414.
0.0
0.0
1,561.
1,561.
175,583.
264,675.
5,574.
3,121.
74,664.
134,966.
24,974.
42,633.
0.0
70,371.
83,955.
204,314.
281,154.
70,591.
70,591.
133,723.
210,563.
78,054.
82,344.
71,636.
75,102.
6,418.
7,242.
94,251.
93,993.
54,500.
54,500.
54,500.
54,500.
0.0
-90704
-89708
29,727.
29,727.
-120431
-119435
130,455.
129,201.

133,741.
133,741.

127,181.
127,181.
-

128,499.
102,431.
207,885.
94,800.
43,769.
46,539.
33,699.
58,662.
161,346.
5,242.
24,750.
35,458.
25,099.
30,138.
30,630.
4,422.
5,300.
5,474.
20,677.
24,838.
25,156.
20,579.
19,148.
24,516.
9,544.
8,068.
7,213.
966.
7,010.
7,133.
-17158
-6845
2,206.
676.
637.
2,433.
0.0
0.0
7,187.
0.0
0.0
4,105.
10,818. -2259

.17
7.14
23.11
.35
.83
96.08

243,343.
243,343.

248,185.
176,131.
172,305.
176,337.
0.0
0.0
71,636.
75,102.
-7482
-227
23,704. -17834
10,300.
66,200.
142,227.
145,693.
.3
3.81
12.37
.59
1.16
77.56

.15
6.34
19.64
.34
.86
80.54

.16
2.96
17.52
.53
.94
85.43

6.63
9.01
77.43
30.6
-

1.52
6.75
23.77
13.01
-

8.61
-

4.26

6.58
0.0
4.21
7.56

2.78
-4.24
-12.68
-8.09

10.
0.0
4.35
31.01

3.
-1.8
-6.99
-3.93

3.87
.53
2.34
1.27

1.7
.02
-5.38
.04
-1.37
17.29

1.8
1.31
.91
-.01
-.04
17.25

2.09
-16.76
-12.83
.01
-3.27
18.67

Pak Elektron Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
3,747,369.
4,346,617.
3,144,904.
162,275.
602,465.

6,360,372.
448,934.
2,576,026.
2,614,396.
11,227.
709,789.
6,527,926.
4,221,968.
2,305,958.
432,852.

0.0
432,852.
3,146,963.
1,215,173.
610,173.
605,000.
1,931,790.

11,042,160.
10,885,856.
156,304.
8,994,493.

2,047,667.
878,002.
878,002.
742,130.
516,751.
50,000.
0.0
303,793.

3,579,815.
0.0
466,751.
4,221,968.
.47
6.72
23.68
1.09
.97
81.46

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.21
5.7
17.42
15.03
4.29
4.68
0.0
7.65
51.57
462

2011

Financial Statement Analysis of Non Financial Sector

2007
4,628,083.
5,425,576.
4,046,378.
201,238.
581,705.
6,918,696.
536,574.
2,507,679.
2,947,646.
12,474.
914,323.
5,980,918.
3,289,151.
2,691,767.
1,501,246.
0.0
1,501,246.
4,064,615.
1,368,591.
763,591.
605,000.
2,696,024.
-

2008
6,804,746.
7,768,802.
6,231,129.
216,451.
573,617.
9,488,457.
434,484.
3,571,168.
4,207,741.
52,945.
1,222,119.
8,079,773.
4,078,256.
4,001,517.
2,570,444.
0.0
2,570,444.
5,642,986.
1,496,677.
970,427.
526,250.
4,146,309.
-

2009
14,083,330.
15,467,498.
13,457,138.
216,580.
511,134.
22,906.
92,152.
8,851,890.
123,263.
3,826,744.
3,227,219.
0.0
1,674,664.
7,191,289.
4,334,131.
2,857,158.
7,183,256.
4,079,149.
0.0
0.0
3,104,107.
8,560,675.
1,593,720.
1,593,720.
0.0
2,593,186.
2,461,255.
4,373,769.

13,077,670.
12,939,700.
137,970.
10,547,806.

12,651,993.
12,561,896.
90,097.
9,801,897.

4,631,431.
4,574,745.
56,686.
3,148,401.
2,850,735.
297,666.
1,483,030.
684,371.
315,170.
369,201.
354,793.
619,911.
224,561.
221,894.
60,643.

2,529,864.
997,966.

2,850,096.
1,357,315.
-

997,966.
-

1,357,315.
-

937,109.

972,618.
-

707,409.
59,067.
0.0
190,898.
-

634,525.
39,876.
0.0 0.0
-

808,581.
1,170,983.

5,565,861.
0.0
648,342.
3,289,151.

8,213,430.
0.0
594,649.
4,078,256.

15,743,931.
4,079,149.
161,251.
8,413,280.

.58
7.17
22.54
1.13
1.16
80.66

.58
7.69
33.26
.78
1.17
77.47

.47
13.38
69.68
.2
1.23
67.98

(Thousand Rupees)
2010
2011
13,981,415. 14,463,088.
298,648.
323,356.
16,129,509. 17,445,963.
13,136,061. 13,765,829.
698,015.
693,645.
457,744.
314,874.
13,447.
4,393.
75,515.
54,636.
11,548,724.
9,330,694.
343,753.
161,866.
5,652,089.
4,247,023.
3,924,775.
3,746,881.
1,628,107.
1,174,924.
9,005,974.
9,628,526.
7,033,103.
7,281,235.
1,972,871.
2,347,291.
7,795,559.
6,600,112.
4,954,333.
4,548,852.
2,841,226.
2,051,260.
8,728,606.
7,565,144.
1,668,264.
1,668,264.
1,668,264.
1,668,264.
2,897,716.
1,934,840.
164,134.
164,134.
2,733,582.
1,770,706.
4,162,626.
3,962,040.
17,522,656. 11,342,830.
17,263,428. 10,927,832.
259,228.
414,998.
13,814,754. 10,277,948.
11,070,227.
7,453,468.
2,744,527.
2,824,480.
3,707,902.
1,064,882.
1,879,308.
1,480,756.
1,057,011.
792,803.
822,297.
687,953.
958,267.
746,343.
1,623,611.
1,423,426.
1,496,115.
1,303,266.
261,208. -1802160
175,216.
123,169.
1,668,264.
-1397300

1,320,271.

16,524,165. 14,165,256.
4,954,333.
4,548,852.
-1582272
-1925329
11,987,436. 11,830,087.
.47
9.27
22.4
.69
1.28
78.84

.41
12.55
33.03
.48
.97
90.61

1.84
6.53
19.62
15.47
-

1.89
4.56
13.07
9.21
-

5.22
-

3.54

5.41
0.0
8.49
53.23

1.68
1.13
3.12
1.85

5.02
0.0
6.13
58.15

1.21
1.99
4.79
.08
1.01
53.72

1.92
1.08
3.02
1.62
.05
3.1
1.17
1.49
-.08
.52
52.32

2.15
-7.31
-22.12
-11.74
2.67
-.38
-15.89
.08
-11.54
45.35

Pakistan Cables Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
995,226.
1,274,921.
995,226.
33,138.
0.0

1,723,036.
248,021.
984,364.
392,953.
37,401.
60,297.
1,598,590.
653,110.
945,480.
84,999.

0.0
84,999.
1,034,673.
97,556.
97,556.
0.0
937,117.

3,492,213.
3,492,213.
0.0
2,997,092.

495,121.
174,547.
174,547.
77,203.
261,214.
49,190.
23,414.
19,511.

1,119,672.
0.0
188,610.
653,110.
.42
2.21
11.25
1.28
1.08
85.82

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.63
11.53
27.62
26.43
9.06
3.55
7.48
0.0
21.73
106.06
463

Financial Statement Analysis of Non Financial Sector

2007
1,215,459.
1,549,328.
1,215,459.
59,391.
0.0
1,763,662.
7,391.
1,133,430.
504,951.
47,932.
69,958.
1,691,576.
1,026,510.
665,066.
135,784.
0.0
135,784.
1,151,761.
146,334.
146,334.
0.0
1,005,427.
-

(Thousand Rupees)
2008
2009
2010
2011
1,643,567.
753,477.
1,752,787.
1,698,948.
91,608.
1,992.
1,089.
2,030,932.
916,682.
2,218,126.
2,253,657.
1,643,567.
493,340.
1,623,402.
1,580,444.
73,044.
21,632.
116,271.
118,423.
0.0
0.0 167,791. 738.
127,393.
117,415.
1,702,333.
559,658.
1,888,162.
2,108,828.
23,743.
35,036.
10,394.
41,830.
1,018,606.
203,171.
982,719.
1,322,151.
397,375.
84,050.
636,040.
476,898.
66,617.
63,828. 195,992.
173,573.
259,009.
267,949.
1,736,609.
524,513.
1,846,750.
1,539,111.
1,151,773.
214,684.
1,214,652.
964,655.
584,836.
309,829.
632,098.
574,456.
270,770.
339,086.
394,541.
199,299.
133,334.
260,958.
26,875.
0.0 0.0
0.0 0.0
33,401.
33,700.
270,770.
205,752.
100,182.
138,724.
1,338,521.
449,536.
1,399,658.
2,069,366.
195,112.
63,888.
214,623.
284,623.
195,112.
63,888.
214,623.
284,623.
0.0
0.0 1,143,409.
256,592.
504,190.
1,088,894.
256,592. 527,800.
0.0
504,190.
561,094.
129,056.
680,845.
695,849.

4,810,838.
4,810,838.
0.0
4,196,627.
-

4,442,611.
4,442,611.
0.0
4,072,731.
-

614,211.
247,212.
-

369,880.
369,382.
-

247,212.
-

369,382.
-

112,052.

130,378.
-

293,276.
68,346.
49,998.
48,778.
-

2011

53,607.
19,695.
0.0
19,511.
-

1,803,234.
3,798,847.
4,096,391.
1,803,234.
3,798,847.
4,096,391.
0.0 1,471,620.
3,386,498.
3,576,776.
1,229,396.
3,138,488.
3,302,420.
242,224.
248,010.
274,356.
331,614.
412,349.
519,615.
69,309.
186,281.
279,545.
2,571.
118,590.
161,885.
66,738.
67,691.
117,660.
137,473.
251,830.
295,364.
86,594.
154,484.
95,932.
85,838.
146,663.
91,448.
214,218.
52,306.
146,682.
10,860.
20,073.
44,383.
15,972.
32,193.
56,925.
6,389.
0.0
0.0
-4029
26,877. -562440

1,287,545.
0.0
174,932.
1,026,510.

1,609,291.
0.0
33,912.
1,151,773.

788,622.
133,334.
187,386.
348,018.

1,794,199.
260,958.
40.
1,475,610.

2,268,665.
26,875.
45,374.
991,530.

.33
2.33
10.5
1.61
1.04
87.23

.28
2.93
8.94
1.33
.98
91.67

.35
4.8
4.66
1.37
1.07
81.61

.35
4.07
16.74
1.04
1.02
89.15

.34
2.34
11.64
1.08
1.37
87.32

1.59
10.3
26.83
24.37
4.5 4.24
6.1
0.0
15.37
78.71

1.5
1.7
4.31
3.7
4.36
1.21
0.0
1.74
68.6

1.92
9.2
23.96
17.87
12.73
8.88
3.5
11.88
.03
31.83
70.36

1.6
2.11
5.66
4.05
1.
3.87
1.36
1.38
-.25
1.5
65.21

.84
3.94
8.46
7.22
1.8
3.1
2.6
3.58
0.0
3.59
72.71

Pakistan Telephone Cables Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
386,167.
434,199.
386,165.
35,407.
2.

270,714.
9,847.
135,253.
13,107.
0.0
112,507.
369,439.
135,477.
233,962.
25,133.

0.0
25,133.
262,309.
210,000.
210,000.
0.0
52,309.

1,043,653.
1,043,653.
0.0
1,013,276.

30,377.
28,374.
28,374.
20,607.
-12829
4,619.
0.0
0.0

287,442.
0.0
-17448
135,477.
.06
1.97
1.26
1.59
.73
97.09

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.5
-1.97
-5.44
-5.11
7.72
-1.23
0.0
-.83
12.49
464

Financial Statement Analysis of Non Financial Sector

(Thousand Rupees)
2007
2008
2009
2010
2011
356,429.
341,947.
313,090.
283,549.
409,515.
0.0
2,144. 438,913.
451,649.
451,761.
449,882.
609,885.
356,428.
338,523.
307,522.
280,125.
407,341.
36,250.
113,125.
31,113.
27,411.
33,717.
1.
0.0
0.0 3,424.
3,424. 0.0
0.0
3,424.
2,174.
300,578.
311,005.
267,581.
116,417.
225,530.
2,825.
4,599.
1,286.
2,164.
2,137.
188,791.
212,174.
210,617.
67,475.
124,900.
68,036.
57,935.
28,273.
14,554.
34,481.
0.0
0.0
0.0 40,926.
36,297.
27,405.
32,224.
64,012.
393,828.
240,214.
276,990.
240,171.
333,720.
94,853.
100,761.
77,583.
76,275.
85,808.
298,975.
139,453.
199,407.
163,896.
247,912.
10,857.
153,740.
148,097.
230,515.
299,415.
86,708.
95,522. 0.0
0.0
169,527.
188,723.
0.0
0.0
0.0 0.0
0.0
9,653.
10,038.
10,857.
67,032.
52,575.
51,335.
100,654.
252,322.
258,998.
155,584. -70720
1,910.
210,000.
210,000.
210,000.
210,000.
210,000.
210,000.
210,000.
210,000.
210,000.
210,000.
0.0
0.0
0.0 -157971
-378905
-408338
42,322. -61986
0.0
0.0 -61986
-157971
-378905
-408338
110,984.
103,555.
98,185.
200,248.
772,689.
772,689.
0.0
720,043.

783,545.
125,243.
163,046.
161,932.
783,545.
125,243.
163,046.
161,932.
0.0
0.0 714,921.
165,327.
191,613.
154,231.
660,538.
140,247.
124,298.
165,836.
54,383.
25,080.
67,315. -11605
-28567
68,624. -40084
7,701.
38,206.
25,387.
21,254.
22,515.
6,924.
2,125.
2,559.
3,232.
31,282.
23,262.
18,695.
19,283.
30,381.
20,622.
15,303.
9,844.
30,039.
31,220.
21,632.
24,870.
1,894.
1,132.
21,772.
24,441.
-88005
-39068
11,635. -79841
6,396.
6,127.
389.
2,500.
0.0
0.0
36,750.
36,750.
0.0
0.0
0.0
0.0
14,745.
41,743.
20,890. -5097

263,179.
0.0
-10573
94,853.

412,738.
303,681.
159,795.
301,325.
86,708.
95,522.
0.0
0.0
-125144
-78318
5,239. -85968
187,469.
173,105.
76,275.
85,808.

52,646.
30,924.

-5953

30,924.
32,322.

4,620.
0.0
0.0
-

2011

.18
4.18
8.81
1.18
.76
93.19

.26
3.83
7.39
1.2
1.29
91.24

.11
24.93
22.57
.22
.97
132.

.07
13.27
8.93
.41
.48
117.52

.11
15.36
21.29
.25
.68
95.24

1.6
-.91
-2.31
-2.16
-

4.09

1.52
1.78
4.55
3.44

-.77
0.0
-.5
12.02

2.73
-12.94
-38.52
-22.29
-

3.69
7.14
1.48
.04
.25
12.33

.59
-69.53
-63.75
.1
-4.09
7.41

-6.66
-17.95
-207.4
-37.98
-2.41
2.42
-3.04
-53.98
.04
-4.21
-3.37

331.48
-7.55
113.55
-16.94
-1.13
1.3
-.6
-24.13
-.01
-1.98
.09

Siemens (Pakistan) Engineering Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
770,362.
1,664,629.
737,990.
152,186.
32,372.

11,283,961.
1,767,308.
2,285,213.
5,098,330.
500,000.
1,633,110.
9,324,127.
503,690.
8,820,437.
0.0

0.0
0.0
2,730,196.
77,696.
77,696.
0.0
2,652,500.

20,998,187.
20,866,564.
131,623.
18,546,430.

2,451,757.
1,428,822.
1,428,822.
264,894.
1,508,320.
926,049.
512,794.
0.0

2,730,196.
0.0
69,477.
503,690.
.79
1.26
24.28
1.74
1.21
88.32

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.42
15.13
57.8
57.8
1.14
9.19
7.18
0.0
74.94
351.39
465

Financial Statement Analysis of Non Financial Sector

2007
1,539,375.
2,508,738.
1,532,620.
199,333.
6,755.
16,041,641.
3,311,908.
3,166,741.
6,634,051.
0.0
2,928,941.
12,229,594.
2,357,180.
9,872,414.
0.0
0.0
0.0
5,351,422.
82,470.
82,470.
0.0
5,268,952.
-

(Thousand Rupees)
2008
2009
2010
2011
1,595,715.
3,878,182.
3,863,177.
3,950,224.
8,686.
62,009.
77,572.
2,679,656.
2,926,093.
3,041,230.
3,047,925.
1,589,664.
1,653,814.
1,616,513.
1,553,469.
205,733.
214,154.
226,575.
226,440.
6,051.
6,032.
2,747.
250.
0.0 2,209,650.
2,181,908.
2,318,933.
23,179,667. 20,380,263. 20,746,763. 17,388,728.
3,407,239.
1,403,094.
1,396,266.
719,368.
4,588,682.
4,367,431.
3,734,297.
3,325,075.
11,127,285. 13,583,392. 14,665,339. 12,867,854.
0.0
0.0 4,056,461.
1,026,346.
950,861.
476,431.
18,487,125. 17,149,395. 17,404,634. 14,647,903.
907,909.
155,706.
16,108.
109,373.
17,579,216. 16,993,689. 17,388,526. 14,538,530.
0.0
197,857.
171,675.
82,343.
0.0 0.0 0.0
0.0 14,042. 0.0
183,815.
171,675.
82,343.
6,288,257.
6,911,193.
7,033,631.
6,608,706.
82,470.
82,470.
82,470.
82,470.
82,470.
82,470.
82,470.
82,470.
0.0
0.0 6,205,787.
6,828,723.
6,951,161.
6,526,236.
624,192.
624,192.
624,192.
6,204,531.
6,326,969.
5,902,044.
0.0 -

22,238,975.
22,133,548.
105,427.
19,113,846.
-

27,236,492.
26,792,225.
444,267.
23,222,631.
-

3,125,129.
1,557,403.
-

4,013,861.
1,668,285.
-

1,557,403.
-

1,668,285.
-

316,939.

253,792.
-

1,964,574.
913,864.
742,230.
0.0
-

2011

2,564,203.
885,135.
742,230.
0.0
-

36,149,390. 26,248,842.
14,202,375. 15,086,819.
21,947,015. 11,162,023.
32,164,974. 22,367,845.
1,537,010. 21,847,884.
30,627,964.
519,961.
3,984,416.
3,880,997.
1,851,736.
2,105,197.
1,308,787.
1,480,011.
542,949.
625,186.
2,691,697.
2,816,271.
336,644.
399,887.
45,843.
78,403.
2,144,439.
1,590,067.
779,270.
819,640.
742,230.
742,230.
0.0
0.0
-1871088
-1689177

5,351,422.
0.0
308,480.
2,357,180.

6,288,257.
0.0
936,838.
907,909.

7,109,050.
0.0
622,939.
155,706.

.81
1.43
29.83
1.26
1.31
85.95

.79
.93
40.85
1.1
1.25
85.26

.87
.93
37.58
1.49
1.19
88.98

15,059,556.
10,774,248.
4,285,308.
12,943,086.
12,380,417.
562,669.
2,116,470.
1,909,726.
1,328,827.
580,899.
2,468,030.
184,663.
68,353.
158,178.
191,999.
82,470.
0.0
239,820.

7,205,306.
6,691,049.
0.0
0.0
28,197. -116291
16,108.
109,373.
.92
1.52
55.87
1.07
1.19
85.21

.93
1.23
85.45
.71
1.19
85.95

2.29
13.26
48.62
48.62
1.42
7.02
-

2.94
12.11
44.06
44.06
2.26
5.94
-

8.83
0.0
127.41
648.89

9.41
0.0
203.6
762.49

2.51
8.75
32.49
32.01
1.84
8.28
47.78
5.93
-.11
165.54
838.03

2.5
6.51
22.81
22.22
1.04
7.03
21.28
6.06
-.1
93.42
852.87

2.23
.69
2.32
2.28
-.41
4.53
3.31
1.05
.02
-4.1
801.35

Singer Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
111,134.
249,367.
110,312.
11,535.
822.

1,125,511.
72,534.
305,452.
675,897.
7,026.
64,602.
831,445.
467,799.
363,646.
149,704.

149,704.
255,496.
133,173.
133,173.
122,323.

1,568,992.
1,568,992.
1,288,917.

280,075.
170,703.
170,703.
70,915.
44,069.
11,239.

405,200.
32,830.
467,799.
.91
4.52
43.08
1.27
1.35
82.15

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.84
3.87
18.31
11.4
5.14
2.81
0.0
2.47
19.19
466

Financial Statement Analysis of Non Financial Sector

2007
161,581.
306,043.
156,915.
13,627.
4,666.
1,401,045.
99,413.
393,286.
808,842.
6,894.
92,610.
951,707.
546,347.
405,360.
221,583.
0.0
0.0
221,583.
389,336.
245,038.
245,038.
0.0
0.0
144,298.
-

2008
219,851.
278,569.
212,213.
18,048.
7,638.
1,640,092.
129,094.
501,985.
887,628.
0.0
121,385.
1,204,838.
762,763.
442,075.
213,208.
0.0
213,208.
441,897.
275,668.
275,668.
0.0
166,229.
-

2009
263,289.
26,189.
370,124.
184,310.
21,121.
5,083.
47,707.
1,609,991.
142,665.
456,583.
923,587.
0.0
87,156.
1,160,329.
672,909.
487,420.
239,975.
143,126.
5,173.
91,676.
472,976.
310,127.
310,127.
0.0
162,849.
5,000.
126,337.
-

1,744,173.
1,744,173.
0.0
1,385,837.

2,349,836.
2,349,836.
0.0
1,901,382.

1,999,476.
1,977,562.
21,914.
1,559,932.
155,270.
1,404,662.
439,544.
257,552.
200,449.
57,103.
154,104.
165,177.
42,094.
20,716.
5,213.

0.0
-

358,336.
219,330.

448,454.
259,600.
-

219,330.
-

259,600.
-

85,876.
62,253.
17,644.
0.0
30,630.

0.0
0.0
-

0.0

125,422.
68,790.
11,391.
0.0 34,459.
-

2011

(Thousand Rupees)
2010
2011
716,495.
703,697.
32,927.
35,418.
822,674.
824,243.
629,062.
620,683.
22,547.
28,797.
3,607.
1,759.
50,899.
45,837.
1,831,867.
2,067,261.
159,056.
225,554.
510,200.
570,600.
1,053,140.
1,150,541.
109,471.
120,566.
1,339,354.
1,524,999.
901,815.
1,101,368.
437,539.
423,631.
402,496.
408,827.
180,000.
198,334.
3,929.
8,006.
218,567.
202,487.
806,512.
837,132.
341,140.
375,253.
341,140.
375,253.
159,757.
160,508.
5,000.
5,000.
154,757.
155,508.
305,615.
301,371.
2,291,397.
2,240,947.
50,450.
1,762,747.
1,242,684.
520,063.
528,650.
293,911.
232,579.
61,332.
176,381.
198,074.
184,732.
45,026.
19,271.

188,474.
28,734.

2,158,168.
2,105,658.
52,510.
1,656,501.
971,529.
684,972.
501,667.
294,176.
237,933.
56,243.
154,766.
176,516.
167,563.
39,940.
20,690.
0.0
34,114.
235,069.

0.0

0.0
37,525.
290,318.

610,919.
0.0
44,609.
546,347.

655,105.
0.0
57,399.
762,763.

712,951.
143,126.
15,503.
816,035.

1,209,008.
180,000.
19,250.
1,081,815.

1,245,959.
198,334.
25,755.
1,299,702.

.96
4.92
46.37
1.12
1.47
79.46

.84
5.34
37.77
1.26
1.36
80.92

.92
8.26
46.19
1.07
1.39
78.02

.91
8.18
48.8
.85
1.37
76.75

.9
8.64
50.21
.83
1.36
76.93

3.01
4.45
19.31
12.25
-

3.21
4.02
16.55
10.87
-

4.43
-

4.68

3.57
0.0
1.82
15.89

2.96
1.11
4.53
3.03

2.93
0.0
2.08
16.03

2.16
1.81
6.24
4.16

2.31
1.69
5.48
3.67

4.23
1.24
1.85
.13
.56
23.64

4.02
1.24
1.97
.15
.69
22.31

4.38
1.49
1.04
.02
.5
15.25

The Climax Engineering Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
243,612.
294,444.
243,612.
11,618.
0.0

351,888.
23,878.
246,938.
32,418.
0.0
48,654.
349,332.
48,038.
301,294.
0.0

0.0
0.0
246,168.
33,120.
33,120.
0.0
213,048.

224,103.
224,103.
0.0
210,108.

13,995.
41,158.
41,158.
873.
8,942.
1,090.
0.0
0.0

246,168.
0.0
7,852.
48,038.
.16
.39
14.47
.38
1.01
93.76

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.42
1.52
4.24
3.85
.91
3.99
0.0
2.37
74.33
467

Financial Statement Analysis of Non Financial Sector

2007
374,597.
406,859.
374,597.
16,817.
0.0
363,552.
1,384.
251,860.
53,634.
0.0
56,674.
286,246.
59,826.
226,420.
0.0
0.0
0.0
451,903.
33,120.
33,120.
0.0
418,783.
-

2008
360,420.
406,432.
360,420.
15,317.
0.0
375,203.
6,760.
250,946.
58,517.
0.0
58,980.
309,803.
58,781.
251,022.
821.
0.0
821.
424,999.
33,120.
33,120.
0.0
391,879.
-

232,847.
232,847.
0.0
219,725.
-

226,242.
226,242.
0.0 217,614.
-

13,122.
39,828.
-

8,628.
38,576.
-

39,828.
-

2009
347,368.
406,527.
346,755.
13,760.
613.
389,788.
12,302.
230,279.
89,442.
543.
57,222.
259,818.
59,091.
200,727.
77,485.
77,485.
399,853.
33,120.
33,120.
0.0
70,875.
70,875.
295,858.

38,576.
-

6,954.

2011

(Thousand Rupees)
2010
2011
480,715.
468,919.
507,278.
507,331.
480,103.
468,573.
12,752.
11,583.
612.
346.
421,123.
419,684.
2,847.
685.
233,660.
228,215.
120,133.
140,997.
64,483.
49,787.
302,624.
313,530.
59,485.
48,000.
243,139.
265,530.
83,789.
91,212.
25,848.
30,013.
57,941.
61,199.
515,425.
483,861.
33,120.
33,120.
33,120.
33,120.
50,309.
25,580.
50,309.
25,580.
431,996.
425,161.

300,511.
300,511.

270,633.
270,633.

189,233.
189,233.

274,609.
212,851.
61,758.
25,902.
37,743.
14,735.
23,008.
36,101.
11,476.

249,559.
199,119.
50,440.
21,074.
43,074.
22,884.
20,190.
39,823.
10,591.

175,785.
125,922.
49,863.
13,448.
32,882.
13,413.
19,469.
38,178.
10,444.

9,200.
-22024
-31930
-29670
14,291. -37922
1,157.
1,100. -3122
1,353.
1,894.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
32,053.
0.0
0.0
5,106.
4,949.
2,749.
451,903.
425,820.
0.0
0.0
13,134. -39022
59,826.
58,781.
.19
2.99
23.03
.32
1.27
94.36

.21
4.07
25.86
.31
1.21
96.19

477,338.
0.0

599,214.
575,073.
0.0
0.0
-33283
-31564
59,091.
59,485.
48,000.
.39
3.82
29.76
.41
1.5
91.38

.41
3.91
44.39
.3
1.39
92.21

.45
5.52
74.51
.21
1.34
92.89

.63
2.14
4.09
4.09
-

.73
-5.15
-8.65
-8.64
-

.92
-

.9

6.14
0.0
3.97
136.44

.84
-2.99
-5.34
-4.88

-16.76
0.0
-11.78 128.32

.75
-3.9
-6.98
-5.93

.84
-3.31
-5.94
-5.05

1.16

.83

-11.8
.01
-10.05
155.62

-15.68
.01
-9.53
146.09

1.3

-7.33
.02
120.73

OTHER SERVICES ACTIVITIES

Other Services Activities - Overall

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
14,001,837.
17,127,632.
14,001,489.
387,803.
348.

4,363,919.
797,974.
473,724.
516,178.
964,109.
1,611,934.
4,017,236.
1,086,098.
2,931,138.
1,035,531.

304,489.
731,042.
13,312,989.
1,582,962.
1,582,962.
11,730,027.

10,429,917.
9,649,559.
780,358.
7,880,296.

2,549,621.
1,221,699.
1,221,699.
306,512.
1,279,795.
414,351.
194,824.

14,348,520.
304,489.
670,620.
1,390,587.
.57
2.94
4.95
.57
1.09
75.55

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.38
7.22
9.98
9.1
4.44
22.02
12.27
0.0
5.47
84.1
470

Financial Statement Analysis of Non Financial Sector

2007
15,907,712.
19,282,729.
15,906,208.
380,235.
1,504.
7,537,900.
1,154,779.
950,581.
1,063,512.
3,261,349.
1,107,679.
4,366,474.
695,106.
3,671,368.
1,020,886.
99,940.
920,946.
18,058,252.
3,777,931.
3,777,931.
0.0
0.0
14,280,321.
-

(Thousand Rupees)
2008
2009
2010
2011
16,308,599. 24,944,143. 38,931,210. 37,999,825.
205,355.
241,903.
169,531.
20,127,519. 21,193,988. 32,705,019. 33,985,952.
16,297,834. 16,547,763. 28,302,918. 28,563,883.
466,305.
1,127,676.
578,255.
552,252.
10,765.
79,592.
70,313.
61,049.
6,897,089.
8,836,445.
6,809,306.
1,214,344.
1,479,631.
2,396,056.
13,174,698.
6,155,964.
5,976,885. 15,199,868.
1,894,262.
786,090.
607,387.
465,157.
1,574,736.
1,844,388.
1,472,468.
2,125,381.
1,792,733.
2,093,197.
2,334,581.
1,606,033.
6,829,502.
0.0
0.0
1,083,465.
1,432,289.
1,562,449. 11,003,297.
7,055,158.
4,054,070.
4,634,173.
7,191,781.
919,280.
1,342,606.
1,535,505.
3,344,387.
6,135,878.
2,711,464.
3,098,668.
3,847,394.
2,374,021.
5,416,840.
4,937,561.
7,228,318.
1,891,609.
2,225,325.
3,146,391.
305,841.
144,482.
68,516.
1,499,400.
1,907,965.
1,176,425.
1,248,567.
273,624.
270,527.
295,056.
874,621.
1,037,801.
1,120,802.
2,469,788.
20,054,118. 21,629,197. 35,336,361. 38,779,594.
3,808,698.
4,196,490.
4,657,036.
5,238,318.
3,808,698.
4,196,490.
4,657,036.
5,238,318.
0.0
0.0
0.0
16,245,420.
6,087,741.
7,977,037.
3,168,696.
2,554,657.
2,840,132.
3,932,030.
3,533,084.
5,136,905. -763334
11,344,966. 22,702,288. 30,372,580.

9,626,372.
9,626,372.
0.0
6,533,464.
-

10,471,347.
10,471,347.
0.0
6,914,742.
-

3,092,908.
1,614,997.
-

3,556,605.
2,302,979.
-

1,614,997.
-

2,302,979.
-

381,958.

497,739.
-

1,834,720.
382,457.
571,638.
0.0

0.0
-

2011

2,244,470.
259,874.
99,300.
10,890.
-

9,391,499.
9,391,499.
0.0
6,993,882.
5,502,695.
1,491,187.
2,397,617.
2,348,206.
97,044.
2,251,162.
1,787,610.
602,527.
510,862.
773,117.
237,611.
158,285.
0.0
218,637.

9,738,491.
9,468,098.
9,738,491.
9,468,098.
0.0
7,318,325.
6,991,166.
5,558,332.
4,664,771.
1,759,993.
2,326,395.
2,420,166.
2,476,932.
1,619,408.
3,686,414.
157,593.
156,058.
1,461,815.
3,530,356.
2,079,644.
2,575,404.
507,343.
1,300,180.
452,870.
1,192,808.
1,998,763. -2128320
314,506.
419,496.
60,617.
233,541.
0.0
385,862.
764,426.
40,273,922. 46,007,912.
3,401,750.
4,394,958.
1,623,640. -2781357
4,937,255.
7,739,345.

19,079,138.
99,940.
880,625.
795,046.

22,428,139.
1,499,400.
1,885,296.
2,418,680.

27,046,037.
3,799,574.
377,222.
5,142,180.

1.25
3.97
11.05
.41
1.73
67.87

1.49
4.75
17.12
.36
1.87
66.03

.71
6.42
22.29
.3
1.52
74.47

.63
5.21
23.97
.22
1.29
75.15

.29
13.73
16.96
.18
2.11
73.84

0.0

0.0

0.0

0.0

.3
8.78
11.7
10.98
2.54
10.13
-

.47
8.48
11.78
10.81
19.99
6.65
-

19.06
0.0
3.81
47.4

21.43
0.0
5.21
52.65

.44
2.55
3.71
3.13
3.38
5.09
2.51
8.23
.02
1.27
51.15

.27
5.26
7.02
5.94
27.79
6.61
5.41
20.52
.04
3.59
75.36

.37
-4.34
-5.74
-4.93
-10.91
4.45
-.78
-22.48
.05
-4.83
73.58

Growth with Composition of

45
40
35
30
25
Billion Rs

20
15
10
5
-2.4%
0
Non-Current Assets

Growth & Composition of Oper

Billion Rs

12
10
8
6
4
2
0
-2
-4

Sales

Profitability/Efficiency Ratios
8
6

7.02
5.26

2
Percentage
0
-2
-4
-6

Return on Return on
Assets

Equity
-4.34

Growth with Composition of Assets & Liabilites

18,000.%
16,000.%
14,000.%
12,000.%
10,000.%
8,000.%
6,000.%

154.3%

55.2%
46.4%

4,000.%
2,000.%
9.7%
0.0%
-2,000.%
Shareholders Equity

Current AssetsCurrent Liabilities

Non-Current
Liabilities
2010
2011

Growth

Growth & Composition of Operations

2010
-2.8%

2011

Growth
5,000.%
0.0%

2.3%

-5,000.%
-10,000.%
-15,000.%
Gross Profit

-206.5% -20,000.%
-25,000.%

Net Profit Before Tax

Key Performance Indicators

2010
30

2010

5.94 2011

20.52
20
10
1.29 2.11

Return on
Capital
Employed
-5.74

0
Percentage Current
-10
Ratio
-20
-30
-4.93

2011
3.59
0.270.37

Debt

Net

Earning

Equity
Ratio

Profit
Margin

Per Share
after Tax
-22.48

-4.83

Dadabhoy Construction Tech. Ltd.(Pak German Prefabs Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
6,808.
18,687.
6,808.
790.
0.0
7,903.
2,622.
4,469.
69.
0.0
743.
59,390.
0.0
59,390.
0.0
0.0
0.0
-44679
23,228.
23,228.
0.0
-67907
4,682.
4,682.
0.0
2,096.
2,586.
3,274.
3,274.
5.
4,013.
20.
0.0
0.0
-44679
0.0
3,993.
0.0
.05
.11
1.47
.32
.13
44.77

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)
472

-1.33
24.38
-8.6
-8.6
1.05
85.71
0.0
1.72
-19.23

2011

Financial Statement Analysis of Non Financial Sector

2007

2008

2009

6,574.
-

6,209.
-

18,847.
6,574.
393.
0.0
-

18,847.
6,209.
366.
0.0
-

6,330.
591.
4,331.
346.
0.0
1,062.
57,037.
0.0
57,037.
0.0
-

7,649.
736.
4,819.
86.
0.0
2,008.
56,969.
0.0
56,969.
0.0
-

0.0

0.0

0.0
-44133
23,228.
23,228.
0.0
-67361
-

0.0
-43111
23,228.
23,228.
0.0
-66339
-

4,791.
4,791.
0.0
2,824.

3,361.
3,361.
0.0
1,513.

6,216.
0.0
19,165.
6,158.
369.
0.0
0.0
58.
6,631.
503.
3,437.
210.
0.0
2,481.
57,661.
0.0
57,661.
0.0
0.0
0.0
0.0
0.0
0.0
-44814
23,228.
23,228.
0.0
-68042
0.0
-68042
0.0

1,967.
1,396.

1,848.
858.
-

1,396.
-

858.
-

1.
-

5.
1,040. -1704
17.
0.0
0.0

570.
24.
0.0
0.0
-

-44133

-43111
0.0
546.
0.0
.02
.02
7.22
.37
.11
58.94

-44814
0.0
1,023. -1704
0.0
.01
.15
2.56
.24
.13
45.02

(Thousand Rupees)
2010
2011
6,216.
6,216.
0.0
0.0
19,165.
19,165.
6,158.
6,158.
369.
369.
0.0
0.0
0.0
0.0
58.
58.
6,631.
6,631.
503.
503.
3,437.
3,437.
210.
210.
0.0
0.0
2,481.
2,481.
57,661.
57,661.
0.0
0.0
57,661.
57,661.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
-44814
-44814
23,228.
23,228.
23,228.
23,228.
0.0
0.0
-68042
-68042
0.0
0.0
-68042
-68042
0.0
0.0

3,404.
3,404.
0.0
1,853.
1,853.
0.0
1,551.
3,250.
194.
3,056.
9.
5.
0.0

3,404.
3,404.
0.0 1,853.
1,853.
0.0
1,551.
3,250.
194.
3,056.
9.
5.
0.0
-1704
-1704
0.0
0.0
0.0
0.0
0.0
0.0
85.
85.
-44814
0.0

3,404.
3,404.
1,853.
1,853.
0.0
1,551.
3,250.
194.
3,056.
9.
5.
0.0
0.0
0.0
0.0
85.

-44814
0.0

-1704

0.0
-1704

0.0

0.0

0.0

.01
.15
6.17
.26
.11
54.44

.01
.15
6.17
.26
.11
54.44

.01
.15
6.17
.26
.11
54.44

-1.29
4.13
-1.28
-1.28
-

-1.32
7.77
-2.38
-2.38
-

1.11
-

.7

11.9
0.0
.24
-19.

-1.29
-12.76
3.88
3.88
.99
-

30.94
0.0
.44
-18.56

-1.29
-13.26
3.8
3.8
.99
-

-50.06
0.0
-.73
-19.29

-1.29
-13.26
3.8
3.8
.99
-

-50.06
0.0
-.73
-19.29

-50.06
0.0
-.73
-19.29

Dreamworld Ltd.
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
409,789.
543,613.
409,789.
34,100.
0.0

31,275.
11,687.
0.0
5,054.
0.0
14,534.
95,818.
0.0
95,818.
0.0

0.0
0.0
345,246.
320,000.
320,000.
0.0
25,246.

435,377.
435,377.
0.0
369,687.

65,690.
48,178.
48,178.
0.0
10,831.
2,425.
0.0
0.0

345,246.
0.0
8,406.
0.0
.17
0.0
1.16
.99
.33
84.91

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.28
2.6
3.18
3.18

2.49
0.0
.26
10.79
473

Financial Statement Analysis of Non Financial Sector

2007
443,925.
615,657.
443,925.
38,768.
0.0
44,885.
11,595.
2,021.
6,167.
0.0
25,102.
140,380.
0.0
140,380.
0.0
0.0
0.0
348,430.
320,000.
320,000.
0.0
28,430.
-

(Thousand Rupees)
2008
2009
2010
2011
431,707.
429,129.
409,625.
413,291.
21,272.
9,691.
14,074.
639,147.
649,665.
671,853.
703,404.
431,707.
407,132.
399,207.
397,852.
36,709.
35,093.
33,239.
32,906.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
725.
727.
1,365.
44,846.
50,855.
40,216.
48,942.
7,325.
6,903.
5,453.
6,084.
0.0
2,360.
7,861.
9,279.
8,958.
11,121.
16,609.
22,414.
0.0
0.0
0.0
0.0
28,563.
30,471.
10,293.
11,165.
136,261.
31,468.
38,678.
47,429.
0.0
0.0
0.0
0.0
136,261.
31,468.
38,678.
47,429.
0.0
103,273.
64,108.
63,148.
0.0
0.0
0.0
92,800.
54,750.
54,750.
0.0
0.0
0.0
0.0
1,909.
1,995.
2,065.
0.0
8,564.
7,363.
6,333.
340,292.
345,243.
347,055.
351,656.
320,000.
320,000.
320,000.
320,000.
320,000.
320,000.
320,000.
320,000.
0.0
0.0
0.0
0.0
20,292.
25,243.
27,055.
31,656.
0.0
0.0
0.0
25,243.
27,055.
31,656.
0.0
0.0
0.0

391,359.
391,359.
0.0
322,229.
-

321,645.
321,645.
0.0
272,363.
-

69,130.
58,817.
-

49,282.
54,869.
-

58,817.
-

54,869.
-

0.0

1,509.
10,205. -7954
1,960.
1,625.
0.0
0.0
0.0
0.0
-

314,168.
314,168.
0.0
244,299.
244,299.
0.0
69,869.
64,475.
12,743.
51,732.
65,734.
1,543.
0.0
3,851.
125.
32,000.
0.0
23,371.

348,430.
340,292.
448,516.
0.0
0.0
0.0
-28274
8,245. -9579
0.0
0.0
0.0
.13
0.0
1.58
.8
.32
82.34

2011

.12
.47
2.79
.67
.33
84.68

.57
.49
3.54
.65
1.62
77.76

385,251.
385,251.
0.0
301,229.
301,229.
0.0
84,022.
78,511.
17,179.
61,332.
86,560.
1,497.
0.0
4,014.
2,610.
0.0
0.0
50,659.

453,166.
453,166.
0.0
349,185.
349,185.
0.0
103,981.
94,103.
23,398.
70,705.
1,757.
0.0
8,121.
4,550.
32,000.
0.0
37,778.

411,163.
414,804.
0.0
0.0
1,404. -28429
0.0
0.0
.57
.39
4.31
.86
1.04
78.19

.6
.39
4.95
.98
1.03
77.05

.4
2.19
2.94
2.94
-

193.65 2.61
0.0
.26
10.89

.4
-1.65
-2.31
-2.31

.39
.81
1.12
.98
.12
133.12

.3
.86
1.16
.93
49.01

1.23
.17
.12
10.79

1.04
.49
.04
10.85

-2.47
0.0
-.3
10.63

.31
1.78
2.32
1.97
.11
48.84
1.79
.34
.11
10.99

Gammon Pakistan Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
147,018.
241,481.
147,018.
4,428.
0.0

300,346.
58,933.
197,026.
0.0
15,826.
28,561.
312,519.
34,880.
277,639.
922.

0.0
922.
133,923.
50,000.
50,000.
0.0
83,923.

532,246.
532,246.
0.0
491,408.

40,838.
18,606.
18,606.
2,006.
13,513.
16,007.
0.0
0.0

134,845.
0.0
-2494
34,880.
.24
.38
0.0
1.19
.96
92.33

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.34
3.79
14.99
14.75
2.7
2.54
0.0
-.5
26.78
474

Financial Statement Analysis of Non Financial Sector

2007
166,393.
248,284.
166,393.
5,421.
0.0
385,871.
48,527.
0.0
262,247.
6,500.
68,597.
431,704.
15,625.
416,079.
290.
0.0
290.
120,270.
50,000.
50,000.
0.0
70,270.
-

(Thousand Rupees)
2008
2009
2010
2011
145,353.
319,110.
312,895.
307,969.
0.0
0.0
0.0
186,945.
272,923.
272,621.
271,925.
145,353.
226,046.
220,544.
215,477.
4,119.
5,284.
5,376.
4,840.
0.0
0.0
0.0
0.0
91,719.
92,026.
92,167.
1,345.
325.
325.
425,583.
391,268.
348,561.
304,428.
22,207.
72,551.
37,540.
33,423.
0.0
18,065.
12,949.
12,781.
258,721.
0.0
0.0
0.0
61,350.
0.0
0.0
0.0
83,305.
300,652.
298,072.
258,224.
427,015.
240,676.
225,416.
182,438.
447.
4,925.
4,925.
0.0
426,568.
235,751.
220,491.
182,438.
627.
7,299.
6,384.
7,665.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
6,835.
6,137.
7,665.
627.
464.
247.
0.0
143,294.
462,403.
429,656.
422,294.
80,761.
282,662.
282,662.
282,662.
80,761.
282,662.
282,662.
282,662.
0.0
0.0
0.0
0.0
-60434
-64928
62,533. -30596
15,380.
15,380.
15,380.
-45976
-75814
-80308
210,337.
207,428.
204,560.

795,361.
795,361.
0.0
749,827.
-

14,507.
-34977
6,000.
0.0
0.0
-

255,363.
46,446.
255,363.
46,446.
0.0
0.0
230,637.
70,954.
76,630.
12,729.
154,007.
58,225.
24,726. -24508
29,781.
20,745.
465.
0.0
29,316.
20,745.
41,607.
19,195.
9,128.
855.
8,674.
764.
24,810. -32696
1,070.
689.
0.0
0.0
0.0
0.0
2,688. -35181

46,877.
46,877.
0.0
43,720.
5,905.
37,815.
3,157.
22,333.
0.0
22,333.
15,898.
376.
277.
6,386.
933.
0.0
0.0
1,277.

120,560.
143,921.
0.0
0.0
-7088
-40977
15,625.
447.

469,702.
436,040.
0.0
0.0
23,740. -33385
4,925.
4,925.

429,959.
0.0
5,453.
0.0

412,348.
412,348.
0.0
375,835.
-

45,534.
25,868.
-

36,513.
37,599.
-

25,868.
-

37,599.
-

13,207.
24,852.
31,940.
0.0
0.0
-

2011

.73
1.66
32.97
1.44
.89
94.28

.8
3.52
62.74
.72
1.
91.15

.3
3.57
0.0
.36
1.63
90.32

.17
1.84
0.0
.07
1.55
152.77

.18
.8
0.0
.08
1.67
93.27

3.59
4.97
19.55
19.46
-

2.98
-6.23
-26.54
-26.45
-

3.12
0.0
-1.42
24.05

.54
3.87
8.19
8.09

.54
-4.77
-7.33
-7.22

14.14
3.86
9.72
.01
.84
16.36

3.59
-41.78
-70.4
-.15
-1.18
15.2

-8.48
0.0
-5.07
17.74

.45
1.
1.5
1.47
-

3.67
24.05
13.62
.01
.19
14.94

Haydari Construction Co. Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,021.
7,109.
1,021.
86.
0.0

25,700.
236.
0.0
0.0
40.
25,424.
7,771.
0.0
7,771.
0.0

0.0
0.0
18,950.
32,000.
32,000.
0.0
-13050

0.0
0.0
0.0
0.0

0.0
345.
345.
2.
-341
1.
0.0
0.0

18,950.
0.0
-342
0.0
.04

0.0
3.31

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.41
-1.27
-1.79
-1.79

0.0
-.11
5.92
475

2011

Financial Statement Analysis of Non Financial Sector

2007

2008
945.

867.
-

7,109.
945.
75.
0.0
-

2009

6,993.
867.
70.
0.0
-

25,515.
36.
0.0
0.0
53.
25,426.
7,786.
0.0
7,786.
0.0

25,596.
80.
12,724.
0.0
91.
12,701.
7,898.
0.0
7,898.
0.0

0.0
18,674.
32,000.
32,000.
0.0
-13326
-

0.0
18,565.
32,000.
32,000.
0.0
-13435
-

0.0
0.0
0.0
0.0

0.0
0.0
0.0
0.0

0.0

0.0

0.0
332.
-

290.
-

-289

332.
-

0.0

2.
-147

0.0
0.0
0.0
-

-147

0.0
3.28

-180

-52

.02 0.0
3.24 -

0.0
0.0
0.0
0.0
0.0
0.0
0.0
389.
0.0
389.
0.0
0.0
0.0
174.
22.
0.0
0.0
54.

0.0
0.0
0.0

26,492.
0.0

0.0

.01
-

0.0
0.0
0.0

18,565.
0.0

0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
255.
0.0
255.
0.0
0.0
0.0
-254

-302

-289

-52
0.0
0.0
0.0

18,674.
0.0

0.0
0.0
0.0
0.0
0.0
0.0
0.0
230.
0.0
230.
0.0
0.0
0.0

0.0
290.

803.
0.0
6,993.
757.
60.
0.0
33.
13.
25,689.
5.
12,724.
0.0
0.0
12,960.
0.0
0.0
0.0
8,038.
0.0
0.0
0.0
0.0
8,038.
18,454.
32,000.
32,000.
0.0
-13546
10,627.
-24173
0.0

(Thousand Rupees)
2010
2011
768.
746.
0.0
0.0
6,385.
6,385.
705.
658.
52.
47.
0.0
0.0
50.
75.
13.
13.
25,709.
25,766.
5.
60.
12,724.
12,724.
0.0
0.0
0.0
0.0
12,980.
12,982.
0.0
0.0
0.0
0.0
0.0
0.0
8,243.
8,103.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
8,243.
8,103.
18,234.
18,409.
32,000.
32,000.
32,000.
32,000.
0.0
0.0
-13766
-13591
10,627.
10,627.
-24393
-24218
0.0
0.0

26,477.
0.0

26,512.
0.0
152.
0.0

-254
0.0

0.0
-

0.0

0.0

0.0
-

.42
-1.09
-1.54
-1.54
-

.43
-.56
-.79
-.79
-

.44
-.2
-.28
-.23
-

0.0
0.0
-.05
2.92

0.0

0.0
-.05
5.8

.45
-.96
-1.38
-.96
0.0
-

-.04
-.01
2.88

.44
.66
.95
.66
0.0
-

-.02
-.04
2.85

.01
.02
2.88

IBL HealthCare Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

476

Financial Statement Analysis of Non Financial Sector

2011

2007
-

2008
-

2009
75,116.
0.0
21,550.
4,490.
2,818.
69,641.
0.0
985.
268,184.
42,838.
112,859.
64,480.
0.0
48,007.
96,903.
0.0
96,903.
7,372.
0.0
0.0
0.0
7,000.
372.
239,025.
200,000.
200,000.
0.0
39,025.
0.0
39,025.
0.0

(Thousand Rupees)
2010
2011
182,450.
179,228.
0.0
0.0
138,121.
144,717.
121,067.
126,502.
2,189.
1,715.
60,941.
52,241.
0.0
0.0
442.
485.
188,943.
368,468.
28,640.
16,142.
111,244.
234,702.
33,558.
90,153.
0.0
0.0
15,501.
27,471.
115,322.
239,968.
0.0
0.0
115,322.
239,968.
7,953.
14,094.
0.0
0.0
0.0
0.0
0.0
0.0
7,953.
9,531.
0.0
4,563.
248,118.
293,634.
200,000.
200,000.
200,000.
200,000.
0.0
0.0
48,118.
93,634.
0.0
0.0
48,118.
93,634.
0.0
0.0

414,882.
414,882.
0.0
375,986.
0.0
375,986.
38,896.
48,370.
33,380.
14,990.
14,686.
668.
384.
-8339
7,323.
0.0
0.0
31,105.

475,248.
639,195.
475,248.
639,195.
0.0
0.0
362,174.
466,800.
0.0
0.0
362,174.
466,800.
113,074.
172,395.
101,078.
113,180.
83,530.
87,133.
17,548.
26,047.
33,896.
42,212.
450.
5,509.
162.
0.0
14,031.
54,078.
4,938.
8,562.
0.0
50,000.
0.0
0.0
105,419. -86047

246,397.
0.0
-15662
0.0

256,071.
307,728.
0.0
0.0
9,093. -4484
0.0
0.0

1.11
.16
15.54
1.21
2.77
90.62

.54
.09
7.06
1.28
1.64
76.21

.44
.86
14.1
1.17
1.54
73.03

.44
-2.43
-3.49
-3.38

.5
3.93
5.76
5.58
-

3.68
-20.72
-2.01
.3
-.78
11.95

.87
11.77
19.96
19.18
-

4.27
87.61
2.95
.86
.45
12.41

.91
2.72
8.46
-.34
2.28
14.68

Javedan Corporation Ltd. (formerly Javedan Cement Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
152,709.
1,003,695.
152,709.
17,229.

811,914.
394,931.
70,604.
114,204.
232,175.
464,877.
464,877.

499,746.
560,000.
560,000.
-60254

2,410,141.
2,410,141.
1,979,352.

430,789.
40,481.
40,481.
1,088.
422,784.
111,668.
317,520.

499,746.
-6404

1.1
.05
0.0
2.5
1.75
82.13

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.93
43.37
95.89
95.89
.98
34.14
17.54
0.0
5.56
8.92

Financial Statement Analysis of Non Financial Sector

0.0
-

0.0

0.0
0.0
0.0
0.0

0.0
-

2007
833,762.
1,698,664.
833,762.
16,855.
0.0
452,938.
8,152.
189,277.
10,908.
0.0
244,601.
345,589.
150,000.
195,589.
625,000.
625,000.
0.0
316,111.
560,000.
560,000.
0.0
-243889
-

(Thousand Rupees)
2008
2009
2010
2011
840,707.
5,392,722.
8,644,909.
468,397.
70,416.
227,818.
10,124.
1,721,165.
6,214,820.
8,628,117.
187,904.
840,707.
5,320,060.
8,414,121.
27,606.
16,319.
14,730.
213,996.
4,462.
0.0
0.0
0.0
0.0
0.0
2,246.
2,970.
430,667.
528,108.
468,497.
851,616.
9,219,454.
71,298.
71,829.
81,770.
10,901.
172,577.
196,261.
6,005.
19,883.
9,943.
34,238.
1,961.
0.0
0.0
0.0
264,350.
190,464.
729,603.
9,206,592.
428,325.
647,644.
1,555,947.
2,603,931.
108,125.
184,045.
1,177,537.
1,947,745.
320,200.
463,599.
378,410.
656,186.
666,875.
4,482,291.
3,858,481.
2,004,956.
30,000.
105,768.
2,002,084.
952,291.
1,127,713.
546,875.
3,500,000.
2,625,000.
0.0
0.0
120,000.
0.0
0.0
2,872.
273,615.
731,284.
4,082,097.
5,078,964.
560,000.
290,641.
581,282.
581,282.
560,000.
290,641.
581,282.
581,282.
0.0
0.0
0.0
-286385
-4065340
-4194256
-3197389
11,966.
11,966.
1,127,713.
-4077306
-4206222
-4325102
4,505,983.
7,695,071.
7,695,071.

1,572,640.
1,539,488.
33,152.
1,494,707.

0.0
-

1,652,758.
1,527,645.
125,113.
1,563,973.
-

77,933.
198,123.
-

88,785.
50,563.
-

198,123.
-

2011

50,563.
-

74,579.
99,469.
-177789
-57484
5,620.
5,951.
0.0
0.0
0.0
0.0
0.0
-

0.0
0.0

0.0
0.0

0.0
0.0
0.0

0.0

1,622,216.
610,134.
1,500,379.
596,276.
121,837.
13,858.
1,372,868.
657,227.
217,672.
102,661.
1,155,196.
554,566.
249,348. -47093
48,911.
32,618.
72,626.
25,750.
9,260.
204.
23,161.
23,358.
72,422.
100,014.
92,839.
20,794.
582,979.
587,424.
489,937.
578,572.
584,308.
456,195.
-370367
-124040
-558491
0.0
3,492.
224.
0.0
0.0
0.0
0.0
-253473
-541714
-112124

0.0
0.0
0.0
0.0
0.0
0.0
0.0

0.0
0.0

941,111.
940,490.
5,213,575.
7,940,578.
7,083,920.
625,000.
546,875.
3,530,000.
2,730,768.
2,002,084.
-183409
-63435
-370367
-127532
-558715
0.0
775,000.
655,000.
3,714,045.
3,908,305.
3,949,829.
0.0

.06
4.74
.69
1.22
1.31
95.04

.21
6.02
1.2
1.21
1.23
94.63

.13
35.94
.61
.28
.72
84.63

.07
96.28
5.61
.06
.55
107.72

0.0
0.0
3.54
-

3.07
-15.79
-43.58
-24.68
-

4.
-4.33
-19.5
-6.11
-

8.31
-

1.33
-1.62
-5.15
-1.89

-3.48
0.0
-1.13
4.89

8.27
101.6
.36
.79
-22.83
-20.33
-.05
-.1
-12.74
-2.19
25.16
70.23
Javedan Cement (2006-10)

.91
-5.82
-12.19
-7.43

9.58

-11.31
0.0
-3.28
5.64

7.01
-10.25
-73.71
-12.04

-.22
-.02
-9.61
87.38

Pace (Pakistan) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
-

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

478

2011

Financial Statement Analysis of Non Financial Sector

2007
257,688.
311,854.
256,406.
13,264.
1,282.
3,547,871.
307,943.
751,408.
310,506.
1,751,329.
426,685.
575,749.
109,268.
466,481.
54,794.
54,794.
3,175,016.
2,204,650.
2,204,650.
970,366.
-

(Thousand Rupees)
2008
2009
2010
2011
510,916.
6,474,944.
8,513,862.
6,373,059.
71,127.
6,672.
6,672.
575,480.
577,191.
693,519.
700,227.
500,373.
474,066.
550,444.
516,419.
21,812.
33,739.
42,786.
38,490.
10,543.
9,951.
9,372.
8,808.
5,465,782.
7,300,247.
5,139,976.
454,018.
647,127.
701,184.
8,050,206.
3,474,664.
3,373,427.
2,985,769.
1,314,880.
341,282.
177,505.
59,592.
1,189,809.
1,496,754.
1,111,571.
1,646,405.
974,764.
1,559,785.
1,714,345.
1,019,495.
4,181,118.
0.0
0.0
389,635.
76,843.
370,006.
260,277.
2,480,964.
362,747.
1,064,004.
1,118,132.
44,843.
35,011.
135,958.
704,479.
2,436,121.
327,736.
928,046.
413,653.
1,519,452.
3,827,813.
3,216,257.
3,144,421.
1,535,175.
1,755,763.
228,000.
202,980.
82,328.
5,637.
0.0
1,499,400.
1,907,965.
1,176,425.
1,248,567.
33,814.
33,236.
32,828.
20,052.
147,879.
168,505.
1,629,389.
4,560,706.
5,759,048.
7,607,028.
5,096,275.
2,204,656.
2,328,220.
2,788,766.
2,788,766.
2,204,656.
2,328,220.
2,788,766.
2,788,766.
0.0
0.0
0.0
0.0
2,356,050.
3,430,828.
4,818,262.
2,307,509.
418,019.
675,936.
635,865.
3,012,809.
4,142,326.
1,671,644.
0.0
0.0

612,651.
612,651.

1,523,872.
1,523,872.
0.0
983,974.

0.0
381,151.
-

231,500.
143,074.

539,898.
331,350.
-

143,074.

331,350.

92,536.

246,260.

550,958.
3,815.
385,814.

1,434,027.
11,023.
0.0
0.0

0.0
-

3,229,810.

1,535,295.
1,649,336.
1,535,295.
1,649,336.
0.0
1,239,402.
1,489,853.
1,239,402.
1,489,853.
0.0
295,893.
159,483.
312,345.
166,386.
6,724.
18,968.
305,621.
147,418.
50,769.
36,107.
272,451.
244,000.
270,554.
241,149.
669,613.
1,116,555.
775.
9,805.
0.0
0.0
-939524
-380510

161,329.
109,268.

6,080,158.
1,499,400.
1,423,004.
1,544,243.

9,586,861.
3,443,140.
668,838.
3,478,151.

4.12
15.1
50.68
.16
6.16
62.21

2.61
16.16
63.97
.18
3.24
64.57

5.24
17.75
101.6
.15
9.58
80.73

0.0

0.0

0.0

-476405
-476405
0.0

0.0

0.0
-396796
2,176,774.
17,576.
2,159,198.
56,009.
505,081.
484,868.
-3026131
880.
0.0
0.0
-472284

0.0

-79609
-79609

10,823,285.
8,240,696.
2,932,188.
1,476,567.
1,106,750. -3027011
3,068,146.
2,181,046.
1.78
14.79
103.94
.14
3.17
90.33

0.0

.97
-106.02
-214.
-.05
2.67
16.71

0.0
0.0

.2
14.48
17.35
17.06
1.42
.82

.88
23.19
37.08
30.81
-

.56
10.23
16.71
10.94

1.03
3.47
43.61
-.22
2.87
24.74

1.48
5.63
67.7
-.09
3.97
27.28

1.28

89.93
0.0
2.48
14.4

.73
7.23
12.98
8.55

94.1
0.0
6.45
20.69

.84
-28.49
-47.64
-31.75
-

-.29
-5.24
635.2
-.11
-10.85
18.27

Pakistan Hotels Developers Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,273,272.
1,487,117.
1,273,272.
48,122.

106,656.
28,028.
471.
46,803.
7,378.
23,976.
400,653.
129,818.
270,835.
897.

897.
978,378.
180,000.
180,000.
798,378.

475,878.
475,878.
168,429.

307,449.
83,609.
83,609.
13,606.
202,180.
77,387.
63,000.

979,275.
61,793.
129,818.
.21
2.86
9.84
.34
.27
35.39

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.41
14.79
21.28
20.32
1.98
1,010.36
42.49
0.0
6.93
54.35
479

Financial Statement Analysis of Non Financial Sector

2007
2,469,004.
2,614,195.
2,469,004.
46,742.
0.0
0.0
115,119.
48,810.
521.
51,177.
0.0
14,611.
280,986.
19,771.
261,215.
1,236.
0.0
0.0
1,236.
2,301,901.
180,000.
180,000.
0.0
0.0
2,121,901.
-

(Thousand Rupees)
2008
2009
2010
2011
2,436,112.
2,400,673.
2,360,573.
2,340,322.
5,275.
8,042.
2,628,269.
2,627,562.
2,627,487.
2,657,480.
2,436,112.
2,392,948.
2,350,081.
2,337,872.
49,797.
46,357.
43,378.
43,776.
0.0
0.0
0.0
0.0
0.0
2,450.
2,450.
2,450.
153,011.
102,400.
146,684.
163,219.
76,522.
65,533.
74,580.
72,914.
557.
1,564.
1,735.
1,764.
39,350.
24,753.
35,489.
26,472.
19,334.
0.0
0.0
17,248.
10,550.
34,880.
62,069.
268,087.
44,678.
42,361.
42,956.
6,105.
0.0
0.0
261,982.
44,678.
42,361.
42,956.
882.
216,059.
204,736.
199,767.
180.
0.0
10,061.
7,404.
8,129.
0.0
0.0
0.0
0.0
0.0
882.
205,818.
197,332.
191,638.
2,320,154.
2,242,336.
2,260,160.
2,260,818.
180,000.
180,000.
180,000.
180,000.
180,000.
180,000.
180,000.
180,000.
0.0
0.0
0.0
2,140,154.
164,650.
197,980.
213,370.
0.0
0.0
164,650.
197,980.
213,370.
1,897,686.
1,882,180.
1,867,448.

498,334.
498,334.
0.0
181,210.

0.0
-

390,531.
390,531.
0.0
177,877.

2,464,896.

92,115.
420.
-

117,401.
41,953.
54,000.
0.0
-

0.0

2,321,036.
2,458,395.
0.0
180.
71,880. -11600
6,105.
180.

11,195.

0.0

286,020.
286,020.

212,654.
92,115.

96,758.
-

323,813.
323,813.
0.0
168,772.
58,892.
109,880.
155,041.
87,466.
1,791.
85,675.
21,720.
258.
258.
16,778.
28,378.
0.0
0.0
96,953.

317,124.
96,758.

118,446.
46,566.
0.0
0.0
-

2,303,137.
0.0
21,448.
19,771.
.36
2.25
10.27
.19
.41
36.36

2011

.5
.11
10.08
.15
.57
45.55

2.02
.08
7.64
.13
2.29
52.12

177,852.
73,879.
103,973.
108,168.
88,325.
1,964.
86,361.
20,052.
2,429.
83.
24,164.
14,723.

12,351.

278,522.
278,522.
0.0
189,726.
72,742.
116,984.
88,796.
90,522.
1,451.
89,071.
56,303.
225.

0.0
0.0

0.0

0.0

0.0
0.0
0.0

0.0
0.0

0.0

0.0
670.
5,167.
0.0
0.0
34,236.

2,460,585.
0.0
9,441. -4497
0.0
2.6
.85
12.41
.11
3.46
62.18

0.0

2.31
.08
9.5
.11
3.8
68.12

0.0
0.0

0.0
0.0

.12
5.92
7.16
7.15
1.4 956.5
23.56
0.0
4.19
127.88

.12
4.58
5.13
5.12

.12
.66
.74
.7

.11
.96
1.07
.98

207.04
66.03
5.18
.37
-.64
124.57

164.85
292.13
8.45
.05
.52
125.56

701.13
30.33
0.0
3.99
128.9

.11
.03
.03
.03
-

157.89
.24
.14
-.25
125.6

Pakistan Services Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
10,313,296.
12,476,224.
10,313,296.
200,320.

2,682,018.
541,953.
35,238.
220,358.
890,455.
994,014.
1,822,977.
303,312.
1,519,665.
743,820.

299,820.
444,000.
10,428,517.
325,242.
325,242.
10,103,275.

4,875,539.
4,875,539.
3,346,835.

1,528,704.
692,206.
692,206.
202,966.
804,823.
266,710.
81,310.

11,172,337.
299,820.
456,803.
603,132.
.91
4.16
4.52
.38
1.47
68.65

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.25
6.34
7.91
7.27
6.62
138.36
16.51
0.0
16.55
320.64
480

Financial Statement Analysis of Non Financial Sector

2007
10,741,029.
13,083,166.
10,741,029.
183,791.
0.0
0.0
2,589,579.
537,942.
29,161.
269,567.
1,452,845.
300,064.
1,921,891.
331,880.
1,590,011.
411,940.
99,940.
312,000.
10,996,777.
325,242.
325,242.
0.0
0.0
10,671,535.
-

(Thousand Rupees)
2008
2009
2010
2011
10,926,298. 12,942,954. 24,541,649. 25,179,308.
0.0
0.0
13,543,839. 13,587,649. 25,258,700. 25,568,966.
10,926,298. 10,860,819. 22,277,858. 22,353,007.
229,621.
269,815.
265,236.
240,017.
0.0
0.0
0.0
1,339,555.
1,444,122.
1,577,088.
742,580.
819,669.
1,249,213.
3,245,083.
1,292,143.
1,197,512.
1,355,518.
297,159.
123,008.
99,928.
118,436.
45,720.
131,049.
128,389.
139,954.
336,103.
247,499.
312,699.
332,043.
2,294,679.
0.0
0.0
271,422.
790,587.
656,496.
765,085.
2,639,891.
2,425,334.
2,257,090.
1,871,455.
745,155.
767,230.
888,088.
441,997.
1,894,736.
1,658,104.
1,369,002.
1,429,458.
199,492.
710,151.
596,886.
1,053,811.
190,813.
86,426.
550,884.
0.0
0.0
0.0
0.0
0.0
224,066.
221,206.
242,967.
199,492.
295,272.
289,254.
259,960.
11,331,998. 11,099,612. 22,885,185. 23,609,560.
325,242.
325,242.
325,242.
325,242.
325,242.
325,242.
325,242.
325,242.
0.0
0.0
0.0
11,006,756.
2,149,516.
2,552,173.
3,276,548.
2,070,631.
2,098,189.
2,102,445.
78,885.
453,984.
1,174,103.
8,624,854. 20,007,770. 20,007,770.

5,679,646.
5,679,646.
0.0
3,805,575.

0.0
-

5,485,717.
5,485,717.
0.0
3,878,201.

217,260.

5,110,651.
5,110,651.
0.0
3,077,084.
3,077,084.
0.0
2,033,567.
1,113,237.
26,102.
1,087,135.
1,336,329.
181,610.
139,450.
1,021,048.
330,698.
0.0
0.0
813,543.

11,531,490. 11,809,763.
0.0
190,813.
250,082. -303005
745,155.
958,043.

23,482,071.
86,426.
336,635.
974,514.

24,663,371.
550,884.
690,350.
992,881.

.18
3.85
7.21
.17
.53
63.62

.24
3.55
6.5
.19
.72
60.21

969,339.
187,785.

135,216.
-

1,001,294.
299,643.
81,310.
0.0

0.0

4,337,027.
4,337,027.

1,607,516.
969,339.

892,058.
-

4,595,739.
4,595,739.
0.0
3,080,249.
3,080,249.
0.0
1,515,490.
1,802,289.
41,747.
1,760,542.
1,151,195.
209,355.
126,038.
-138975
164,030.
0.0
0.0
729,526.

1,874,071.
892,058.

479,916.
181,048.
48,786.
0.0
-

11,408,717.
99,940.
620,341.
431,820.
1.18
3.31
4.75
.43
1.35
67.

2011

1.11
2.46
6.13
.39
1.23
70.7

.15
4.56
5.39
.32
.53
67.02

2,759,207.
2,759,207.
1,577,820.
1,160,858.
35,758.
1,125,100.
1,173,216.
167,066.
122,778.
554,167.
217,532.

0.0

0.0

0.0

0.0
0.0

0.0

0.0

0.0

0.0
0.0

.21
7.61
9.35
8.87
8.63
194.77
-

.25
3.49
4.3
4.18
6.13 119.99
-

17.63
0.0
21.57
338.11

8.75
0.0
9.19
348.42

.28
-.98
-1.24
-1.19

.12
2.77
3.26
3.14

35.07
-.1
-3.02
.23
-9.32
341.27

33.78
5.51
12.78
.08
10.35
703.64

.12
3.91
4.39
4.24
-

36.52
8.32
19.98
.28
21.23
725.91

Shifa International Hospitals Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets
B.Current Assets (B1+B2+B3+B4+B5)
1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets
C.Current Liabilities (C1+C2)
1.Short term Secured loans
2.Other current liabilities
D.Non-Current Liabilities (D1+D2+D3+D4+D5)
1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities
E.Shareholders Equity (E1+E2+E3)
1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets
F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations
G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)
H.Key Performance Indicators
1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)

2006
1,339,236.
1,786,282.
1,339,236.
74,090.
0.0

364,112.
83,457.
20,071.
149,122.
0.0
111,462.
599,916.
235,774.
364,142.
232,801.

0.0
232,801.
870,631.
505,138.
505,138.
0.0
365,493.

1,111,296.
1,111,296.
0.0
766,847.

344,449.
174,501.
174,501.
40,011.
189,200.
5,755.
50,514.
0.0

1,103,432.
0.0
132,931.
235,774.
.39
3.6
13.42
.65
.61
69.

7.Debt equity ratio [(C+D) to E]

8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

.96
11.84
22.35
17.58
3.63
55.37
17.03
0.0
3.63
17.24
481

Financial Statement Analysis of Non Financial Sector

2007
1,773,567.
2,306,247.
1,773,567.
88,273.
0.0
406,221.
125,565.
29,845.
131,129.
0.0
119,682.
708,579.
190,730.
517,849.
536,990.
0.0
536,990.
934,219.
505,138.
505,138.
0.0
429,081.
-

(Thousand Rupees)
2008
2009
2010
2011
1,797,488.
2,295,198.
2,603,172.
2,731,289.
107,681.
217,498.
138,661.
2,441,346.
3,431,290.
3,017,168.
3,725,779.
1,797,488.
2,175,347.
2,376,854.
2,582,332.
112,974.
734,141.
185,630.
185,630.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
12,170.
8,820.
10,296.
526,437.
544,130.
649,202.
721,673.
168,612.
133,467.
183,233.
147,102.
44,871.
65,576.
82,558.
64,335.
153,180.
185,349.
221,671.
113,285.
0.0
0.0
0.0
0.0
159,774.
159,738.
161,740.
396,951.
640,953.
794,603.
833,641.
1,027,811.
73,299.
535,440.
506,534.
250,166.
567,654.
259,163.
327,107.
777,645.
644,586.
536,835.
832,994.
732,353.
165,441.
383,136.
365,423.
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
644,586.
371,394.
449,858.
366,930.
1,038,386.
1,507,890.
1,585,739.
1,692,798.
505,138.
505,138.
505,138.
505,138.
505,138.
505,138.
505,138.
505,138.
0.0
0.0
0.0
0.0
533,248.
390,663.
475,691.
589,929.
40,000.
40,000.
40,000.
350,663.
435,691.
549,929.
612,089.
604,910.
597,731.

1,324,650.
1,324,650.
0.0
837,893.
-

1,669,050.
1,669,050.
0.0
681,757.
-

486,757.
301,832.
-

987,293.
679,615.
-

301,832.
-

679,615.
-

66,360.

86,996.
-

126,394.
0.0
50,514.
0.0
-

2011

232,912.
8,177.
50,514.
0.0
-

1,948,835.
1,948,835.
0.0
1,652,684.
801,370.
851,314.
296,151.
0.0
0.0
0.0
441,890.
109,119.
104,954.
207,135.
35,910.
126,285.
0.0
274,735.

2,555,759.
2,555,759.
0.0
2,155,203.
919,582.
1,235,621.
400,556.
0.0
0.0
0.0
710,609.
91,041.
87,934.
320,486.
64,209.
60,617.
0.0
415,959.

3,412,688.
3,412,688.
0.0
2,942,407.
1,237,611.
1,704,796.
470,281.
0.0
0.0
0.0
1,047,850.
115,680.
112,018.
367,529.
68,460.
151,541.
0.0
547,908.

1,471,209.
0.0
75,880.
190,730.

1,682,972.
0.0
174,221.
73,299.

2,044,725.
165,441.
44,941.
700,881.

2,418,733.
383,136.
195,660.
889,670.

2,425,151.
365,423.
147,528.
615,589.

.36
5.01
9.9
.61
.57
63.25

.5
5.21
9.18
.72
.82
40.85

.4
5.6
9.51
.69
.68
84.8

.49
3.56
8.67
.79
.78
84.33

.25
3.39
3.32
.99
.7
86.22

1.33
6.51
14.01
9.82
2.5
44.38
-

1.24
10.34
23.61
14.77
4.45
37.2
-

9.54
0.0
2.5
18.49

13.95
0.0
4.45
20.56

.88
8.02
16.27
11.11
1.36
29.72
2.97
10.63
.21
3.39
29.85

1.05
10.52
20.72
14.36
4.23
30.96
4.64
12.54
.25
5.07
31.39

1.04
10.96
22.42
15.17
1.97
53.05
4.28
10.77
.31
5.92
33.51

APPENDICES

Appendix:1
Companies Covered in the Financial Statement Analysis for the year 2011 (399)
Company

Page

1 Textile Sectors (155)*

9 36
37
13 38
15 39
16 40
17 41
18 42
19 43
20 44
21 45
22 46
23 47
24 48
25 49
26 50
27 51
28 52
29 53
30 54
31 55
32 56
33 57
34 58
35 59
36 60
37 61
38 62
39 63
40 64
41 65
42 66
43 67
44 68
45 69
46 70
47 71
48 72
49 73

i) Spinning, Weaving, Finishing (137)*

1 (Colony) Sarhad Textile Mills Ltd.
2 (Colony) Thal Textile Mills Ltd.
3 Adil Textile Mills Ltd.
4 Ahmed Hussan Textile Mills Ltd.
5 Al-Qadir Textile Mills Ltd.
6 Ali Asghar Textile Mills Ltd
7 Allawasaya Textile & Finishing Mills Ltd
8 Amtex Ltd.
9 Annoor Textile Mills Ltd.
10 Apollo Textile Mills Ltd.
11 Artistic Denim Mills Ltd.
12 Ashfaq Textile Mills Ltd.
13 Asim Textile Mills Ltd.
14 Ayesha Textile Mills Ltd.
15 Azam Textile Mills Ltd.
16 Azgard Nine Ltd.
17 Babri Cotton Mills Ltd.
18 Bhanero Textile Mills Ltd.
19 Bilal Fibres Ltd.
20 Blessed Textiles Ltd.
21 Brothers Textile Mills Ltd.
22 Chakwal Spinning Mills Ltd.
23 Chenab Ltd.
24 Colony Mills Ltd.
25 Crescent Fibre Ltd.
26 D.M. Textile Mills Ltd.
27 D.S. Industries Ltd.
28 Dar-Es-Salam Textile Mills Ltd.
29 Data Textiles Ltd.
30 Dawood Lawrancepur Ltd.**
31 Dewan Farooque Spinning Mills Ltd.
32 Dewan Khalid Textile Mills Ltd.
33 Dewan Mushtaq Textile Mills Ltd.
34 Dewan Textile Mills Ltd.
35 Din Textile Mills Ltd.

483

Elahi Cotton Mills Ltd.

Ellcot Spinning Mills Ltd.
Faisal Spinning Mills Ltd.
Fateh Textile Mills Ltd.
Fatima Enterprises Ltd.
Fazal Cloth Mills Ltd.
Fazal Textile Mills Ltd.
Feroze 1888 Mills Ltd.
Gadoon Textile Mills Ltd.
Ghazi Fabrics International Ltd.
Glamour Textile Mills Ltd.
Globe Textile Mills (OE) Ltd.
Globe Textile Mills Ltd.
Gulistan Spinning Mills Ltd.
Gulistan Textile Mills Ltd.
Gulshan Spinning Mills Ltd.
Hafiz Textile Mills Ltd.
Haji Muhammad Ismail Mills Ltd.
Hajra Textile Mills Ltd.
Hala Enterprises Ltd.
Hamid Textile Mills Ltd.
Hira Textile Mills Ltd.
Husein Industries Ltd.
ICC Textiles Ltd.
Ideal Spinning Mills Ltd.
Idrees Textile Mills Ltd.
Indus Dyeing & Manu. Company Ltd
Ishaq Textile Mills Ltd.
Ishtiaq Textile Mills Ltd.
Island Textile Mills Ltd
J. A. Textile Mills Ltd.
J. K. Spinning Mills Ltd.
Janana De Malucho Textile Mills Ltd
Jubilee Spinning & Weaving Mills Ltd
Karim Cotton Mills Ltd.
Khalid Siraj Textile Mills Ltd.
Khurshid Spinning Mills Ltd.
Khyber Textile Mills Ltd.

the year 2011 (399)

6
7
8
9
0
1
2
3
4
5
6
7
8
9
0
1
2
3
4
5
6
7
8
9
0
1
2
3
4
5
6
7
8
9
0
1
2
3

Company
Elahi Cotton Mills Ltd.
Ellcot Spinning Mills Ltd.
Faisal Spinning Mills Ltd.
Fateh Textile Mills Ltd.
Fatima Enterprises Ltd.
Fazal Cloth Mills Ltd.
Fazal Textile Mills Ltd.
Feroze 1888 Mills Ltd.
Gadoon Textile Mills Ltd.
Ghazi Fabrics International Ltd.
Glamour Textile Mills Ltd.
Globe Textile Mills (OE) Ltd.
Globe Textile Mills Ltd.
Gulistan Spinning Mills Ltd.
Gulistan Textile Mills Ltd.
Gulshan Spinning Mills Ltd.
Hafiz Textile Mills Ltd.
Haji Muhammad Ismail Mills Ltd.
Hajra Textile Mills Ltd.
Hala Enterprises Ltd.
Hamid Textile Mills Ltd.
Hira Textile Mills Ltd.
Husein Industries Ltd.
ICC Textiles Ltd.
Ideal Spinning Mills Ltd.
Idrees Textile Mills Ltd.
Indus Dyeing & Manu. Company Ltd.
Ishaq Textile Mills Ltd.
Ishtiaq Textile Mills Ltd.
Island Textile Mills Ltd
J. A. Textile Mills Ltd.
J. K. Spinning Mills Ltd.
Janana De Malucho Textile Mills Ltd.
Jubilee Spinning & Weaving Mills Ltd.
Karim Cotton Mills Ltd.
Khalid Siraj Textile Mills Ltd.
Khurshid Spinning Mills Ltd.
Khyber Textile Mills Ltd.

Page
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87

Company

Page

74 Kohat Textile Mills Ltd.

75 Kohinoor Industries Ltd.
76 Kohinoor Mills Ltd.
77 Koninoor Spinning Mills Ltd.
78 Kohinoor Textile Mills Ltd.
79 Landmark Spinning Industries Ltd.
80 Mahmood Textile Mills Ltd.
81 Maqbool Textile Mills Ltd.
82 Masood Textile Mills Ltd.
83 Mehr Dastagir Textile Mills Ltd.
84 Mian Textile Industries Ltd.
85 Mohammad Farooq Textile Mills Ltd.
86 Mubarak Textile Mills Ltd.
87 Mukhtar Textile Mills Ltd
88 N. P. Spinning Mills Ltd.
89 Nadeem Textile Mills Ltd.
90 Nagina Cotton Mills Ltd.
91 Nazir Cotton Mills Ltd.
92 Nishat (Chunian) Ltd.
93 Nishat Mills Ltd.
94 Olympia Spinning & Weaving Mills Ltd.
95 Olympia Textile Mills Ltd.
96 Paramount Spinning Mills Ltd.
97 Premium Textile Mills Ltd.
98 Prosperity Weaving Mills Ltd.
99 Quality Textile Mills Ltd.
100 Quetta Textile Mills Ltd.
101 Ravi Textile Mills Ltd.
102 Redco Textiles Ltd.
103 Regent Textile Industries Ltd.
104 Reliance Cotton Spinning Mills Ltd.
105 Reliance Weaving Mills Ltd.
106 Resham Textile Industries Ltd.
107 Ruby Textile Mills Ltd.
108 Safa Textiles Ltd.
109 Saif Textile Mills Ltd.
110 Sajjad Textile Mills Ltd.
111 Saleem Denim Industries Ltd.

88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125

484

112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137

Salfi Textile Mills Ltd.

Sally Textile Mills Ltd.
Salman Noman Enterprises Ltd.
Samin Textiles Ltd.
Sana Industries Ltd.
Sapphire Fibres Ltd.
Sapphire Textile Mills Ltd.
Sargodha Spinning Mills Ltd.
Saritow Spinning Mills Ltd.
Service Fabrics Ltd.
Service Industries Textile Ltd.
Shadab Textile Mills Ltd.
Shadman Cotton Mills Ltd.
Shahtaj Textile Ltd.
Shahzad Textile Mills Ltd.
Shams Textile Mills Ltd.
Sind Fine Textile Mills Ltd.
Sunrays Textile Mills Ltd.
Suraj Cotton Mills Ltd.
Taha Spinning Mills Ltd.
Tata Textile Mills Ltd.
The Crescent Textile Mills Ltd.
Towellers Ltd.
Yousaf Weaving Mills Ltd.
Zahidjee Textile Mills Ltd.
Zephyar Textile Mills Ltd.

ii) Made-up Textile articles (6)*

1 Aruj Garment Accessories Ltd.
2 Fateh Sports Wear Ltd.
3 Gul Ahmed Textile Mills Ltd.
4 International Knitwear Ltd.
5 Liberty Mills Ltd.
6 Moonlite (Pak) Ltd.
iii) Other Textiles n.e.s. (12)*
1 Al-Abid Silk Mills Ltd.
2 Bannu Woollen Mills Ltd.

12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37

Company
Salfi Textile Mills Ltd.
Sally Textile Mills Ltd.
Salman Noman Enterprises Ltd.
Samin Textiles Ltd.
Sana Industries Ltd.
Sapphire Fibres Ltd.
Sapphire Textile Mills Ltd.
Sargodha Spinning Mills Ltd.
Saritow Spinning Mills Ltd.
Service Fabrics Ltd.
Service Industries Textile Ltd.
Shadab Textile Mills Ltd.
Shadman Cotton Mills Ltd.
Shahtaj Textile Ltd.
Shahzad Textile Mills Ltd.
Shams Textile Mills Ltd.
Sind Fine Textile Mills Ltd.
Sunrays Textile Mills Ltd.
Suraj Cotton Mills Ltd.
Taha Spinning Mills Ltd.
Tata Textile Mills Ltd.
The Crescent Textile Mills Ltd.
Towellers Ltd.
Yousaf Weaving Mills Ltd.
Zahidjee Textile Mills Ltd.
Zephyar Textile Mills Ltd.

Page
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151

) Made-up Textile articles (6)*

Aruj Garment Accessories Ltd.
Fateh Sports Wear Ltd.
Gul Ahmed Textile Mills Ltd.
International Knitwear Ltd.
Liberty Mills Ltd.
Moonlite (Pak) Ltd.

154
156
157
158
159
160
161

i) Other Textiles n.e.s. (12)*

Al-Abid Silk Mills Ltd.
Bannu Woollen Mills Ltd.

164
166
167

Company

Page

3 Crescent Jute Products Ltd.

4 Ibrahim Fibres Ltd.
5 Latif Jute Mills Ltd.
6 Noor Silk Mills Ltd.
7 Pakistan Synthetics Ltd.
8 Rupali Polyester Ltd.
9 S. G. Fibres Ltd.
10 Suhail Jute Mills Ltd.
11 The National Silk and Rayon Mills Ltd.
12 Tri-Star Polyester Ltd.

168
169
170
171
172
173
174
175
176
177

2 Food (54)

180

i) Sugar (36)***
1 Abdullah Shah Ghazi Sugar Mills Ltd.
2 Adam Sugar Mills Ltd.
3 Al-Abbas Sugar Mills Ltd.
4 Al-Noor Sugar Mills Ltd.
5 Ansari Sugar Mills Ltd.
6 Baba Farid Sugar Mills Ltd
7 Bawany Sugar Mills Ltd.
8 Chashma Sugar Mills Ltd.
9 Colony Sugar Mills Ltd.
10 Crescent Sugar Mills & Distillery Ltd.
11 Dewan Sugar Mills Ltd.
12 Faran Sugar Mills Ltd
13 Fecto Sugar Mills Ltd.
14 Habib ADM* Ltd.
15 Habib Sugar Mills Ltd.
16 Haseeb Waqas Sugar Mills Ltd.
17 Husein Sugar Mills Ltd.
18 JDW Sugar Mills Ltd.
19 Khairpur Sugar Mills Ltd.
20 Kohinoor Sugar Mills Ltd.
21 Mehran Sugar Mills Ltd.
22 Mirpurkhas Suggar Mills Ltd
23 Mirza Suggar Mills Ltd
24 Noon Sugar Mills Ltd.
25 Pangrio Sugar Mills Ltd.

184
186
187
188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210

485

26
27
28
29
30
31
32
33
34
35
36

Sakrand Sugar Mills Ltd.

Saleem Sugar Mills Ltd.
Sanghar Sugar Mills Ltd.
Shahmurad Sugar Mills Ltd.
Shahtaj Sugar Mills Ltd.
Shakarganj Mills Ltd.
S?lz !ialUa??u SUUa? M??u L?l
Tandlianwala Sugar Mills Ltd.
The Frontier Sugar Mills & Distillery L
The Prem.Sugar Mills & Dist. Co. Ltd
The Thal Ind. Corp. Ltd.

ii) Other Food Products (18)*

1 Clover Pakistan Ltd.
2 Indus Fruit Products Ltd.
3 Ismail Industries Ltd.
4 M?Izl???u F?U? Fa??u L?l????
5 Morafco Industries Ltd.
6 Murree Brewery Company Ltd.
7 National Foods Ltd.
8 Nestle ak
9 Noon Pakistan Ltd.
10 Punjab Oil Mills Ltd.
11 Quice Food Industries Ltd.
12 Rafhan Maize Products Ltd.**
13 S. S. Oil Mills Ltd.
14 Shakarganj Foods Ltd.
15 Shezan International Ltd.
16 Unilever Pakistan Foods Ltd.**
17 Unilever Pakistan Ltd.**
18 Wazir Ali Industries Ltd.

3 Chemicals & Pharmaceuticals (43)*

1
2
3
4
5

Abbott Laboratories (Pakistan) Ltd.**

Agritech Ltd.
Bawany Air Products Ltd.
Berger Paints Pakistan Ltd.
Biafo Industries Ltd

Page

Company

6
7
8
9
0
1
2
3
4
5
6

Sakrand Sugar Mills Ltd.

Saleem Sugar Mills Ltd.
Sanghar Sugar Mills Ltd.
Shahmurad Sugar Mills Ltd.
Shahtaj Sugar Mills Ltd.
Shakarganj Mills Ltd.
S?lz !ialUa??u SUUa? M??u L?l
Tandlianwala Sugar Mills Ltd.
The Frontier Sugar Mills & Distillery Ltd.
The Prem.Sugar Mills & Dist. Co. Ltd.
The Thal Ind. Corp. Ltd.

) Other Food Products (18)*

Clover Pakistan Ltd.
Indus Fruit Products Ltd.
Ismail Industries Ltd.
M?Izl???u F?U? Fa??u L?l????
Morafco Industries Ltd.
Murree Brewery Company Ltd.
National Foods Ltd.
P
istan
Noon Pakistan Ltd.
0 Punjab Oil Mills Ltd.
1 Quice Food Industries Ltd.
2 Rafhan Maize Products Ltd.**
3 S. S. Oil Mills Ltd.
4 Shakarganj Foods Ltd.
5 Shezan International Ltd.
6 Unilever Pakistan Foods Ltd.**
7 Unilever Pakistan Ltd.**
8 Wazir Ali Industries Ltd.

211
212
213
214
215
216
217
218
219
220
221

Ltd.**

224
226
227
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243

Chemicals & Pharmaceuticals (43)*

246

Abbott Laboratories (Pakistan) Ltd.**

Agritech Ltd.
Bawany Air Products Ltd.
Berger Paints Pakistan Ltd.
Biafo Industries Ltd

248
249
250
251
252

Company

Page

6 Buxly Paints Ltd.

7 Clariant Pakistan Ltd.**
8 Colgate - Polmolive (Pakistan) Ltd.
9 Data Agro Ltd
10 Dawood Hercules Chemicals Ltd.**
11 Descon Chemicals Ltd.
12 Descon Oxychem Ltd.
13 Dewan Salman Fibre
14 Dynea Pakistan Ltd.
15 Engro Corporation Ltd.**
16 Engro Polymer & Chemical Ltd.**
17 Fatima Fertilizer Co.Ltd.**
18 Fauji Fertilizer Bin Qasim Ltd.**
19 Fauji Fertilizer Company Ltd.**
20 Ferozsons Laboratories Ltd.
21 Gatron Industries Ltd.
22 Ghani Gases Ltd.
23 Glaxo Smithkline (Pakistan) Ltd.**
24 Highnoon Laboratories Ltd.**
25 ICI Pakistan Ltd.**
26 Ittehad Chemicals Ltd
27 Leiner Pak Gelatine Ltd.
28 Linde Pakistan Ltd. (Boc Pakistan Ltd.)**
29 Lotte pakistan PTA Ltd.**
30 Mandviwal Maser Plastic Industries Ltd.
31 Nimir Industrial Chemicals Ltd.
32 Otsuka Pakistan Ltd.
33 Pakistan Gum & Chemicals Ltd.**
34 Pakistan Pvc Ltd.
35 Sanofi Aventis Pakistan Ltd.**
36 Sardar Chemical Industries Ltd.
37 Searle Pakistan Ltd.
38 Shaffi Chemicals Industries Ltd
39 Sitara Chemical Industries Ltd.
40 Sitara Peroxide Ltd.
41 United Distributers Pakistan Ltd.
42 Wah Nobel Chemicals Ltd . (Pub.)
43 Wyeth Pakistan Ltd.**

253
254
255
256
257
258
259
260
261
262
263
264
265
266
267
268
269
270
271
272
273
274
275
276
277
278
279
280
281
282
283
284
285
286
287
288
289
290

486

4 Other Manufacturing n.e.s. (30)*

1 Al-Khair Gadoon Ltd.

2 Bata Pakistan Ltd.**
3 Crescent Steel & Allied Products Ltd
4 Dadex Eternit Ltd.
5 Diamond Industries Ltd.
6 Dost Steels Ltd.
7 Eco. Pak. Ltd. (Plastobag Ltd.)
8 Emco Industries Ltd.
9 Fateh Industries Ltd.
10 Gillette Pakistan Ltd.
11 Goodluck Industries Ltd.
12 Grays Of Cambridge (Pakistan) Ltd.
13 Huffaz Seamless Pipe Industries Ltd
14 International Industries Ltd.
15 KSB Pumps Company Ltd.**
16 Khyber Tobacco Company Ltd.
17 Leather Up Ltd.
18 MACPAC Films Ltd.
19 Pak Leather Crafts Ltd.
20 Pakistan Engineering Company Ltd.
21 Pakistan Tobacco Company Ltd.**
22 Philip Morris (Pakistan) Ltd. (Lakson)
23 Service Industries Ltd.**
24 Shield Corporation Ltd.
25 Siddiqsons Tinplate Ltd.
26 Thal Ltd. (Thal Jute Mills Ltd.)
27 Treet Corporation Ltd.
28 Tri-Pack Films Ltd.**
29 United Brand Ltd.
30 Zil Ltd. (Zulfeqar Industries Ltd.)

5 Other Non-Metallic Mineral Product

i) Cement (20)*
1 Al- Abbas Cement Ltd. (Essa Cem. In
2 Attock Cement Pakistan Ltd.

Company
Other Manufacturing n.e.s. (30)*

Page
293

Al-Khair Gadoon Ltd.

Bata Pakistan Ltd.**
Crescent Steel & Allied Products Ltd
Dadex Eternit Ltd.
Diamond Industries Ltd.
Dost Steels Ltd.
Eco. Pak. Ltd. (Plastobag Ltd.)
Emco Industries Ltd.
Fateh Industries Ltd.
0 Gillette Pakistan Ltd.
1 Goodluck Industries Ltd.
2 Grays Of Cambridge (Pakistan) Ltd.
3 Huffaz Seamless Pipe Industries Ltd.
4 International Industries Ltd.
5 KSB Pumps Company Ltd.**
6 Khyber Tobacco Company Ltd.
7 Leather Up Ltd.
8 MACPAC Films Ltd.
9 Pak Leather Crafts Ltd.
0 Pakistan Engineering Company Ltd. (Pub.)
1 Pakistan Tobacco Company Ltd.**
2 Philip Morris (Pakistan) Ltd. (Lakson)**
3 Service Industries Ltd.**
4 Shield Corporation Ltd.
5 Siddiqsons Tinplate Ltd.
6 Thal Ltd. (Thal Jute Mills Ltd.)
7 Treet Corporation Ltd.
8 Tri-Pack Films Ltd.**
9 United Brand Ltd.
0 Zil Ltd. (Zulfeqar Industries Ltd.)

295
296
297
298
299
300
301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324

Other Non-Metallic Mineral Products (28)

327

Cement (20)*
Al- Abbas Cement Ltd. (Essa Cem. Ind. Ltd.)
Attock Cement Pakistan Ltd.

331
333
334

Company

Page

3 Bestway Cement Ltd.

4 Cherat Cement Company Ltd.
5 D. G. Khan Cement Company Ltd.
6 Dadabhoy Cement Industries Ltd.
7 Dandot Cement Company Ltd.
8 Dewan Cement Ltd. (Pakland Cem. Ltd.)
9 Fauji Cement Company Ltd.
10 Fecto Cement Ltd.
11 Flying Cement Company Ltd.
12 Gharibwal Cement Ltd.
13 Kohat Cement Ltd.
14 Lafarge Cement Ltd.(Pak. Cem. Ltd.)**
15 Lucky Cement Ltd.
16 Maple Leaf Cement Factory Ltd.
17 Mustehkam Cement Ltd.
18 Pioneer Cement Ltd.
19 Thatta Cement Ltd.
20 Zeal Pak Cement Factory Ltd.

335
336
337
338
339
340
341
342
343
344
345
346
347
348
349
350
351
352

7 Bela Automotives Ltd.

8 Bolan Castings Ltd.
9 Dewan Auto.Eng. Ltd.(Allied Motors Lt
10 Dewan Farooque Motors Ltd.
11 Exide Pakistan Ltd.*****
12 General Tyre & Rubber Co. Ltd.
13 Ghandhara Industries Ltd..
14 Ghandhara Nissan Ltd.
15 Ghani Automobiles Industries Ltd.
16 Hinopak Motors Ltd.*****
17 Honda Atlas Cars (Pakistan) Ltd.****
18 Indus Motor Company Ltd.
19 Millat Tractors Ltd.
20 Pak Suzuki Motor Company Ltd.**
21 Sazgar Engineering Works Ltd.
22 Transmission Engineering Inds. Ltd.

ii) Mineral Products (8)*

1 Baluchistan Glass Ltd.
2 Frontier Ceramics Ltd.
3 Ghani Glass Ltd.
4 Ghani Value Glass Ltd.
5 Karam Ceramics Ltd.
6 Safe Mix Concrete Products Ltd.
7 Shabbir Tiles and Ceramics Ltd.
8 Tariq Glass Industries Ltd.

355
357
358
359
360
361
362
363
364

6 Motor Vehicles, Trailers & Autoparts (22)*

367

1
2
3
4
5
6

369
370
371
372
373
374

1 Altern Energy Ltd.

2 Burshane LPG (Pakistan) Ltd.
3 Ideal Energy Ltd
4 Japan Power Generation Ltd.
5 Karachi Electric Supply Co.(KESC)
6 Kohinoor Energy Ltd.
7 Kohinoor Power Company Ltd.
8 Kot Adu Power Co. Ltd.
9 Mari Gas Company Ltd.
10 Nishat Chunian Power Ltd.
11 Nishat Power Co. Ltd.
12 Oil & Gas Dev. Corp. (OGDC) (Pub.)
13 S. G. Power Ltd.
14 Sitara Energy Ltd.
15 Southern Electric Power Co. Ltd.
16 Sui Northern Gas Pipelines Ltd. (Pub
17 Sui Southern Gas Co. Ltd. (Pub.)
18 The Hub Power Company Ltd.

Agriauto Industries Ltd.

Al-Ghazi Tractors Ltd.**
Atlas Battery Ltd.
Atlas Engineering Ltd.
Atlas Honda*****
Ltd.
Baluchistan Wheels Ltd.

487

7 Fuel & Energy (18)*

Company

Bela Automotives Ltd.

Bolan Castings Ltd.
Dewan Auto.Eng. Ltd.(Allied Motors Ltd.)
0 Dewan Farooque Motors Ltd.
1 Exide Pakistan Ltd.*****
2 General Tyre & Rubber Co. Ltd.
3 Ghandhara Industries Ltd..
4 Ghandhara Nissan Ltd.
5 Ghani Automobiles Industries Ltd.
6 Hinopak Motors Ltd.*****
7 Honda Atlas Cars (Pakistan) Ltd.*****
8 Indus Motor Company Ltd.
9 Millat Tractors Ltd.
0 Pak Suzuki Motor Company Ltd.**
1 Sazgar Engineering Works Ltd.
2 Transmission Engineering Inds. Ltd.
Fuel & Energy (18)*

Altern Energy Ltd.

Burshane LPG (Pakistan) Ltd.
Ideal Energy Ltd
Japan Power Generation Ltd.
Karachi Electric Supply Co.(KESC)
Kohinoor Energy Ltd.
Kohinoor Power Company Ltd.
Kot Adu Power Co. Ltd.
Mari Gas Company Ltd.
0 Nishat Chunian Power Ltd.
1 Nishat Power Co. Ltd.
2 Oil & Gas Dev. Corp. (OGDC) (Pub.)
3 S. G. Power Ltd.
4 Sitara Energy Ltd.
5 Southern Electric Power Co. Ltd.
6 Sui Northern Gas Pipelines Ltd. (Pub.)
7 Sui Southern Gas Co. Ltd. (Pub.)
8 The Hub Power Company Ltd.

Page
375
376
377
378
379
380
381
382
383
384
385
386
387
388
389
390
393
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412

Company

Page

8 Information & Comm. & Transport (13)*

415 8 Pakistan Paper Products Ltd.

9 Security Papers Ltd. (Pub)
417
418 11 Electrical Machinery & Apparatus
419
420 1 Ados Pakistan Ltd.
421 2 Johnson & Philips (Pakistan) Ltd.
422 3 Pak Elektron Ltd.**
423 4 Pakistan Cables Ltd.
424 5 Pakistan Telephone Cables Ltd.
425 6 Siemens (Pakistan) Engineering Co. L
426 7 Singer Pakistan Ltd.**
427 8 The Climax Engineering Company Ltd
428
429 12 Other Services Activities (10)*

1 HUM Network Ltd. (Eye Television Network Ltd.)

2 Media Times Ltd.
3 Netsol Technologies Ltd.
4 Pak Datacom Ltd. (Pub.)
5 Pakistan International Container Terminal Ltd.
6 Pak. International Airlines Corp. Ltd. (PIA) (Pub.)
7 Pakistan National Shipping Corp. Ltd. (Pub.)
8 Pakistan Telecommunication Co. Ltd. (PTCL)
9 Southern Network Ltd.
10 TRG Pakistan Ltd.
11 Telecard Ltd.
12 Wateen Telecom Ltd.
13 World Call Telecom Ltd.**
9 Coke & Refined Petroleum Products (9)*
1
2
3
4
5
6
7
8
9

432 1 Dadabhoy Construction Tech. Ltd.

2 Dreamworld Ltd.
434 3 Gammon Pakistan Ltd.
435 4 Haydari Construction Company Ltd.
436 5 IBL Health Care Ltd.
437 6 Javedan Corporation Ltd.
438 7 Pace (Pakistan) Ltd.
439 8 Pakistan Hotels Developers Ltd.
440 9 Pakistan Services Ltd.
441 10 Shifa International Hospitals Ltd.
442

Attock Petroleum Ltd.

Attock Refinery Ltd.
Byco Petruleum Pakistan
National Refinery Ltd.
Pakistan Oilfields Ltd.
Pakistan Petroleum Ltd. (Pub.)
Pakistan Refinery Ltd.
Pakistan State Oil Company Ltd. (Pub.)
Shell Pakistan Ltd. **

10 Paper, Paperboard & Products (9)*

445

1
2
3
4
5
6
7

447
448
449
450
451
452
453

Baluchistan Particle Board Ltd.

Central Forest Products Ltd.
Century Paper & Board Mills Ltd.
Cherat Papersack Ltd.
Dadabhoy Sack Ltd.
Merit Packaging Ltd.
Packages Ltd.**

End Jun-*, End Dec-**, End Sep-***, End Nov-****, End Mar-*****
(For an economic group generally and for an individual company specifically)

488

Company
Pakistan Paper Products Ltd.
Security Papers Ltd. (Pub)

1 Electrical Machinery & Apparatus (8)*

Ados Pakistan Ltd.
Johnson & Philips (Pakistan) Ltd.
Pak Elektron Ltd.**
Pakistan Cables Ltd.
Pakistan Telephone Cables Ltd.
Siemens (Pakistan) Engineering Co. Ltd.***
Singer Pakistan Ltd.**
The Climax Engineering Company Ltd.

Page
454
455
458
460
461
462
463
464
465
466
467

2 Other Services Activities (10)*

470

Dadabhoy Construction Tech. Ltd.

Dreamworld Ltd.
Gammon Pakistan Ltd.
Haydari Construction Company Ltd.
IBL Health Care Ltd.
Javedan Corporation Ltd.
Pace (Pakistan) Ltd.
Pakistan Hotels Developers Ltd.
Pakistan Services Ltd.
0 Shifa International Hospitals Ltd.

472
473
474
475
476
477
478
479
480
481

Appendix: II

Defaulter Companies of non-financial sectors listed at Karachi Stock Exchange upto Dec. 31, 2011 (13

Company

Textile Sectors (77)

i) Spinning, Weaving, Finishing (62)

1 (Colony) Sarhad Textile Mills Ltd.
2 (Colony) Thal Textile Mills Ltd.
3 Accord Textiles Ltd.
4 Adil Textile Mills Ltd.
5 Al-Azhar Textile Mills Ltd.
6 Alif Textile Industries Ltd.
7 Al-Qaim Textile Mills Ltd
8 Amin Spinning Mills Ltd.
9 Annoor Textile Mills Ltd.
10 Apex Fabrics Ltd.
11 Asim Textile Mills Ltd.
12 Awan Textile Mills Ltd.
13 Ayaz Textile Mills Ltd.
14 Azam Textile Mills Ltd.
15 Azmat Textile Mills Ltd.
16 Bahawalpur Textile Mills Ltd.
17 Brothers Textile Mills Ltd.
18 Carvan East Fabrics Ltd.
19 Crescent Spinning Mills Ltd.
20 Data Textiles Ltd.
21 Elahi Cotton Mills Ltd.
22 Fatima Enterprises Ltd.
23 Fawad Textile Mills Ltd.
24 Globe Textile Mills (OE) Ltd.
25 Globe Textile Mills Ltd.
26 Hafiz Textile Mills Ltd.
27 Hajra Textile Mills Ltd.
28 Hakkim Textile Mills Ltd.
29 Hamid Textile Mills Ltd.
30 Harum Textile Mills Ltd.
31 Ishtiaq Textile Mills Ltd.
32 Ittefaq Textile Mills Ltd.

na
na
na
na
na
na
na
na
na
na
na
na

na

na
na
na

Appendix: II

hi Stock Exchange upto Dec. 31, 2011 (133)

Company

33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62

Junaid Cotton Mills Ltd.

Karim Cotton Mills Ltd.
Khurshid Spinning Mills Ltd.
Khyber Textile Mills Ltd.
Kohinoor Industries Ltd.
Kohinoor Looms Ltd.
Mehr Dastagir Textile Mills Ltd.
Modern Textile Mills Ltd.
Mukhtar Textile Mills Ltd
Nazir Cotton Mills Ltd.
Noorie Textile Mills Ltd.
Qayyum Spinning Mills Ltd.
Rashid Textile Mills Ltd.
Redco Textiles Ltd.
Sadoon Textile Mills Ltd.
Sahrish Textile Mills Ltd.
Saitex Spinning Mills Ltd.
Saleem Denim Industries Ltd.
Schon Textile Mills Ltd.
Service Fabrics Ltd.
Service Textile Mills Ltd.
Shahpur Textile Mills Ltd.
Siftaq International Ltd.
Sind Fine Textile Mills Ltd.
Sunshine Cotton Mills Ltd.
Taj Textile Mills Ltd.
Tariq Cotton Mills Ltd.
Usman Textile Mills Ltd.
Zahur Cotton Mills Ltd.
Zahur Textile Mills Ltd.

na

na
na

na
na
na
na
na
na
na
na
na
na
na
na
na
na
na
na

ii) Made-up Textile articles (4)

1 Fateh Sports Wear Ltd.
2 Libaas Textile Ltd.
3 Tawakkal Garments Ltd.

489

na
na

Company
4 Nina Industries Ltd.

na

iii) Other Textiles n.e.s. (11)

1 Colony Woollen Mills Ltd.
2 Harnai Woollen Mills Ltd.
3 Indus Polyester Company Ltd.
4 Kaiser Arts & Crafts Ltd.
5 Karim Silk Mills Ltd.
6 Kashmir Polytex Ltd.
7 Mehran Jute Mills Ltd.
8 National Fibres Ltd.
9 Noor Silk Mills Ltd.
10 Suhail Jute Mills Ltd.
11 Valika Woollen Ltd.

na
na
na
na
na
na
na
na

na

11
12
13
14

Shakarganj Foods Ltd.

Suraj Ghee Industries Ltd.
Universal Oil & Vegetable Ghee Mills
Uqab Breeding Farms Ltd.

3 Chemicals, Chemical Products &

1
2
3
4
5
6
7

Adil Polypropylene Products Ltd.

Data Agro Ltd
Kausar Paints Ltd.
Pak Fiber Industries Ltd.
Pakistan PVC Ltd.
Sardar Chemical Industries Ltd.
Sindh Alkalis Ltd.

2 Food (19)

4 Other Manufacturing n.e.s. (9)

i) Sugar (5)

1
2
3
4
5
6
7
8

1
2
3
4
5

Ansari Sugar Mills Ltd.

Khairpur Sugar Mills Ltd.
Mian Mohammad Sugar Mills Ltd.
Sakrand Sugar Mills Ltd.
Saleem Sugar Mills Ltd.

na

ii) Other Food Products (14)

1 Extraction Pakistan Ltd.
2 Fazal Vegetable Ghee Mills Ltd.
3 Indus Fruit Products Ltd.
4 Morafco Industries Ltd.
5 Mubarak Daries Ltd.
6 Muslim Ghee Mills Ltd.
7 Pak Ghee Industries Ltd.
8 Pakistan Dairies
9 Quice Food Industries Ltd.
10 S. S. Oil Mills Ltd.

na
na

Dost Steels Ltd.

Fateh Industries Ltd.
Gauhar Engineering Ltd.
Hashimi Can Company Ltd.
Metropolitan Steel Corporation Ltd.
Quality Steel Works Ltd.
Syed Match Co. Ltd.
Taxila Engineering Ltd.
9

5 Other Non-metallic Mineral Product

i) Cement (1)

na
na
na
na

1 Dadabhoy Cement Industries Ltd.

ii) Mineral Products (3)
1 Mineral Grinding Ltd.
2 Regal Ceramics Ltd.

490

Company

1
2
3
4

Shakarganj Foods Ltd.

Suraj Ghee Industries Ltd.
Universal Oil & Vegetable Ghee Mills Ltd.
Uqab Breeding Farms Ltd.

na
na
na

Chemicals, Chemical Products &

Pharmaceuticals (7)
Adil Polypropylene Products Ltd.
Data Agro Ltd
Kausar Paints Ltd.
Pak Fiber Industries Ltd.
Pakistan PVC Ltd.
Sardar Chemical Industries Ltd.
Sindh Alkalis Ltd.

na
na
na

na

Other Manufacturing n.e.s. (9)

Dost Steels Ltd.
Fateh Industries Ltd.
Gauhar Engineering Ltd.
Hashimi Can Company Ltd.
Metropolitan Steel Corporation Ltd.
Quality Steel Works Ltd.
Syed Match Co. Ltd.
Taxila Engineering Ltd.
Turbo Tec Ltd.

na
na
na
na
na
na

Other Non-metallic Mineral Products (4)

Cement (1)
Dadabhoy Cement Industries Ltd.

) Mineral Products (3)

Mineral Grinding Ltd.
Regal Ceramics Ltd.

na
na

Company
3 Medi Glass Ltd.

na

6 Motor Vehicles, Trailers & Autoparts (1)

1 Bela Automotives Ltd.
7 Fuel & Energy (2)
1 Generteck Pakistan Ltd.
2 Kohinoor Power Company Ltd.

na

8 Paper, Paperboard & Products (3)

1 Abson Industries Ltd.
2 Central Forest Products Ltd.
3 Dadabhoy Sack Ltd.

na

9 Electrical Machinery & Apparatus (5)

1
2
3
4
5

Bela Engineers Ltd.

Casspak Industries Ltd.
Saif Nadeem Kawasaki Ltd.
Taga Pakistan Ltd.
The Climax Engineering Company Ltd.

Note: na. Annual reports of these

defaulting companies are not
available. Thereof their
analysis/profiles are not included in
the booklet.
Default is due to the following
reasons:
1) Quoted below 50% of face value
for continous period of 3 years.
2) Failed to declare dividend/bonus
for 5 years from the datd of last
declaration.
3) Failure to hold Annual General
Meeting for a continous period of 3
years.
4) Under liquidation.
5) failed to pay Annual listing fee for
a period of 2 years.

na
na
na
na

Company
10 Other Services Activities (6)
1 Dadabhoy Construction Tech. Ltd.
2 M.L.C.
3 Pan Islamic Steamship Ltd.
4 Tri-Star Shipping Lines Ltd.
5 Myfip Video Industries Ltd.
6 Tawakkal Ltd.
10 Other Services Activities (6)
1 Dadabhoy Construction Tech. Ltd.

491

na
na
na
na
na

Explanatory Notes:
?
?
?
?
?
?
?
?
?

In the analysis, consolidated financial statement of a company is used

the parent company.

Data revisions in the preceding years are due to restated balance she
institutions plus error & omissions, if any.
Respective closings of different sectors/companies are mentioned in
Data of non-responding existing companies are repeated for 3 years
analysis in the publication.
Sector-wise coverage is based on the available financial statements o
Reclassification in sectors and renaming may happen during the yea
reflected in the
s next year publication.
Data rounding on consolidation levels is around 5(000).
Repeated data of any company is replaced with the actual one upon
in that years publication.
The symbol - appearing in the analytical tables stands for Not applicable

492

al statement of a company is used to cover full potential of

s are due to restated balance sheets by respective

ors/companies are mentioned in the appendix.

panies are repeated for 3 years before their removal from

e available financial statements of companies.

ming may happen during the year, which would be

s is around 5(000).
placed with the actual one upon receipt of its annual report