Professional Documents
Culture Documents
2013
2012
Financial Performance / Profitability
Gross profit margin
EBITDA margin to sales
Pre tax margin
Net profit margin
Return on equity
Return on capital employed
Operating leverage ratio
Operating Performance / Liquidity
Total assets turnover
Fixed assets turnover
Debtors turnover
Debtors turnover
Inventory turnover
Inventory turnover
Creditors turnover
Creditors turnover
Operating cycle
Return on assets
Current ratio
Quick / Acid test ratio
Cash to Current liabilities
Cash flow from Operations to Sales
Capital Market/Capital Structure Analysis
Market value per share
Err:509
- Year end
- High during the year
- Low during the year
Breakup value / Net assets per share
Earnings per share (pre tax) - restated
Earnings per share (after tax) - restated
Earnings growth - restated
Price earning ratio - restated
Market price to breakup value
Dividend yield / Effective dividend rate
Debt : Equity
Weighted average cost of debt
Interest cover
Change in Market Value Added
Financial leverage ratio
Corporate Distribution & Retention
%
%
%
%
%
%
Times
46.36
42.74
39.50
27.03
80.05
68.41
1.11
Times
Times
Times
Days
Times
Days
Times
Days
Days
%
Times
Times
Times
Times
Rs
Rs
Rs
Rs
Rs
Rs
Rs
%
Times
Times
%
1.10
4.04
34.55
11.00
188.00
2.00
144.48
3.00
10.00
29.68
0.77
0.66
0.38
0.34
117.14
111.96
121.60
100.00
19.77
23.12
15.83
(3.48)
7.07
5.64
13.77
15:85
%
Times
%
%
10.08
39.91
(4.85)
0.51
48.47
44.99
41.78
28.07
80.96
70.38
3.73
1.23
4.15
40.20
9.00
151.68
###
60.99
6.00
5.00
34.38
1.14
1.01
0.61
0.25
149.54
117.14
190.95
105.75
20.26
24.41
16.40
(7.24)
7.14
6.22
12.29
13:87
12.47
32.08
18.35
0.40
Rs
Rs
Rs
%
%
%
%
%
%
%
%
%
%
11.35
4.00
15.35
71.72
96.99
153.50
96.99
103.13
28.28
3.01
10.50
5.00
15.50
64.04
94.53
155.00
94.53
105.81
35.96
5.47
izer Limited
2011
ENGRO FERTILIZER
2013
2012
2011
62.20
63.64
60.06
40.73
99.17
88.60
4.12
94.5
0.99
3.24
248.18
1.00
162.43
2.00
33.45
11.00
(8)
40.50
1.04
0.93
0.38
0.35
125.86
149.54
198.35
109.82
26.75
26.07
17.68
103.92
8.46
5.66
16.51
10:90
14.50
43.20
48.86
0.58
14.75
5.25
20.00
55.62
75.42
50.00
50.00
250.00
94.27
70.72
44.38
24.58
Industry Average
2013
2012
2011
EQUITY
Share capital 4 6,785,271 4,934,742
Capital reserve 5 160,000 160,000
Revenue reserves 6 6,137,171 7,190,471
13,082,442 12,285,213
NON CURRENT LIABILITIES
Long term borrowings 7 4,578,809 5,378,214
Deferred taxation 8 3,035,757 2,431,895
7,614,566 7,810,109
CURRENT LIABILITIES
Trade and other payables 9 8,002,897 5,993,674
Interest and mark up accrued 11 147,329 194,570
Short term borrowings 12 6,088,348 3,114,000
Current portion of long term borrowings 7 1,799,405 743,036
Taxation 1,816,595 1,778,361
17,854,574 11,823,641
38,551,582 31,918,963
CONTINGENCIES AND COMMITMENTS 13
The annexed
6,785,271 4,934,742
160,000 160,000
137,171 7,190,471
82,442 12,285,213
RRENT LIABILITIES
578,809 5,378,214
035,757 2,431,895
614,566 7,810,109
RRENT LIABILITIES
002,897 5,993,674
1 147,329 194,570
088,348 3,114,000
1,799,405 743,036
816,595 1,778,361
54,574 11,823,641
51,582 31,918,963
ND COMMITMENTS 13
The annexed
1982
1992
1993
Installed 1980 Acquired By FFC 2002
2009
Ammonia
330000
73000
403000
363000
Urea
570000
125000
695000
635000
330000
83000
413000
1,179,000
574000
144000
718000
2,048,000
6,785,271
160,000 16
137,171 7,
82,442 12,
RRENT LIAB
578,809 5,
035,757 2,
614,566 7,
RRENT LIAB
002,897 5,
1 147,329
088,348 3,
1,799,405
816,595 1,
54,574 11,
51,582 31,
ND COMMITM
The annexe
4,934,742
0 160,000
7,190,471
2,285,213
ABILITIES
5,378,214
2,431,895
7,810,109
ABILITIES
5,993,674
9 194,570
3,114,000
5 743,036
1,778,361
1,823,641
1,918,963
TMENTS 13
e annexed
2013
21,854,125
22,098
7,000,000
1,460,000
3,983,215
34,319,438
34,319,438
2012
2011
16,125,589
24,921
4,990,000
1,433,750
4,542,926
27,117,186
12,329,687
79,826
8,735,650
1,615,655
3,762,236
26,523,054
27,117,186
26,523,054
Installed
Capacity
'000' tonnes
Firm
Fauji Fertilizer Company Limited
Urea
2011
2012
2013
2011
2012
2013
2011
2012
2013
2011
2012
2013
2011
2012
2013
2011
2012
2013
2011
2012
2013
2011
2012
2013
2,048
2,048
2,048
_x001B__x001E__x001B__x0017_
_x001B__x001E__x001B__x0015_
_x001B__x001E__x001B__x0015_
_x0015__x001E__x001B__x001B_
#E_x000B_5_x0017_-_x000E_
_x0017_#7%
_x0006_
_x001B__x001E__x001B__x0015_._x001C_.
_x001B__x001E__x0013__x001C__x001B__x0017__x0017_
_x001B__x001E__x001B__x001B__x0012__x001D__x001A_
_x001B__x001E__x001B__x0017__x001C__x001D__x001A_
_x001B__x001E__x001B__x001B__x0015__x0016__x0015_
_x001B__x001E__x001B__x001B__x001B__x001B_.
_x001B__x001E__x001B__x001B__x001B__x0015__x001B_
_x001B__x001E__x0016__x0013__x0017_._x001C_
Production
'000' tonnes
2,396
2,405
2,408
Sales
'000' tonnes
2,406.00
2,399.00
2,409.00
Sales
PKR
Production
Plant 1 Goth Machi (Established: June 1982 Revambed:1992)
Ammonia
Urea
Plant 2 Goth Machi (Established: June 1993)
Ammonia
Urea
Plant 3 MirPur Mathelo (Ex. PakSaudi Fertilizer) (Established: Oct 1980 Acquired: Jul 2002 Capacity Enh
Ammonia
Urea
Total
Ammonia
Urea
Production capacity
Imports
Industry
Urea
DAP
Opening Stocks DAP
Closing Stocks DAP
Opening Stocks Urea
Closing Stocks Urea
Company
Urea
DAP
Opening Stocks DAP
Closing Stocks DAP
Opening Stocks Urea
Closing Stocks Urea
Produced
Industry
Urea (Metric
DAP (Metric
Company
Urea (Metric
DAP (Metric
Sold
Industry
Urea (Metric
DAP (Metric
Company
Urea (Metric
DAP (Metric
Tonnes)
Tonnes)
Tonnes)
Tonnes)
Tonnes)
Tonnes)
Tonnes)
Tonnes)
Market share
Urea
DAP
Gas Curtailment
EQUITY AND LIABILITIES
EQUITY
Share capital
Capital reserve
Revenue reserves
Surplus on remeasurement of investments
available for sale to fair value
NON CURRENT LIABILITIES
Long term borrowings
Deferred liabilities
CURRENT LIABILITIES
Trade and other payables
Interest and mark up accrued
Short term borrowings
Current portion of long term borrowings
Taxation
ASSETS
NON CURRENT ASSETS
Property, plant and equipment
Intangible assets
Long term investments
Long term loans and advances
Long term deposits and prepayments
CURRENT ASSETS
Stores, spares and loose tools
Stock in trade
Trade debts
Loans and advances
Deposits and prepayments
Other receivables
Short term investments
Cash and bank balances
Sales
Cost of sales
GROSS PROFIT
Distribution cost
Finance cost
Other expenses
Other income
NET PROFIT BEFORE TAXATION
Provision for taxation
NET PROFIT AFTER TAXATION
Depreciation
Amortization
36.
36.1
Depreciation
Financial Performance - Profitability
Gross Profit Margin
EBITDA Margin to Sales
Pre Tax Margin
Net Profit Margin
%
%
%
%
Return on Equity
Return on Capital Employed
Operating Performance - Liquidity
Total Assets Turnover
Fixed Assets Turnover
Debtors Turnover
Debtors Turnover
Inventory Turnover
Inventory Turnover
Creditors' Turnover
Creditors' Turnover
Operating Cycle
Return on Assets
Current Ratio
Quick Ratio
%
%
Times
Times
Times
Days
Times
Days
Times
Days
Days
%
403,000
695,000
2012
2011
403,000
695,000
###
###
363,000
363,000
635,000
635,000
ct 1980 Acquired: Jul 2002 Capacity Enhanced: 2009)
413,000
413,000
718,000
718,000
###
###
1,179,000
2,048,000
403000
695000
1,179,000
2,048,000
403000
695000
363000
363000
635000
635000
ct 1980 Acquired: Jul 2002 Capacity Enhanced: 2009)
413000
413000
718000
718000
1179000
2048000
1179000
2048000
###
###
1,179,000
2,048,000
403000
695000
363000
635000
413000
718000
1179000
2048000
12,722,382
12,722,382
8,481,588
160,000
12,258,373
160,000
12,877,129
###
14,029,206
10,508
25,151,263
7,695
25,767,206
10,258
22,681,052
4,280,000
4,078,369
3,870,000
3,915,259
2,703,750
3,623,060
8,358,369
7,785,259
6,326,810
21,854,125
22,098
7,000,000
1,460,000
3,983,215
34,319,438
16,125,589
24,921
4,990,000
1,433,750
4,542,926
27,117,186
12,329,687
79,826
8,735,650
1,615,655
3,762,236
26,523,054
67,829,070
60,669,651
55,530,916
18,444,188
1,651,592
20,662,532
740,408
2,654
41,501,374
17,818,755
1,678,639
9,511,865
700,756
5,111
29,715,126
2,447,452
636,923
86,669
431,582
53,852
3,656,478
3,244,645
301,957
700,541
921,460
46,984
790,163
18,960,295
1,361,651
26,327,696
3,098,938
442,139
3,611,476
677,977
35,670
588,667
18,750,996
3,748,632
30,954,495
2,447,452
636,923
86,669
431,582
53,852
891,673
21,794,480
1,293,774
27,636,405
67,829,070
60,669,621
31,292,883
74,480,611
74,322,612
55,221,168
39,948,572
34,532,039
6,167,280
28,364,759
756,215
2,557,935
25,050,609
4,367,941
29,418,550
9,284,000
20,134,550
38,300,128
36,022,484
5,553,529
30,468,955
999,457
2,685,236
26,784,262
4,267,852
31,052,114
10,191,987
20,860,127
1,627,957
1,370,050
20,871,759
34,349,409
4,372,151
29,977,258
785,825
2,654,881
26,536,552
6,629,501
33,166,053
10,674,000
22,492,053
15.83
35,783,891
(759,038)
(9,754,711)
16.40
31,758,990
(1,054,362)
(9,235,297)
(83,040)
(454,661)
17.68
33,121,687
(843,967)
(10,398,028)
(75,241)
(109,220)
(329,070)
(1,808,776)
19,557,385
33,166,053
1,189,678
36,772
115,634
222,162
1,780,493
663,321
785,825
(1,702,517)
(13,422)
(49,224)
42,373
(4,842,032)
(1,770,937)
31,395,116
(44,023)
(425,203)
271,287
(95,313)
(3,664)
(23,912)
2,115,458
1,794,630
(150,555)
(333)
82,829
33,121,687
54,129,431
(21,007,744)
(75,241)
(109,220)
(329,070)
(1,808,776)
(843,967)
(10,398,028)
19,557,385
ENGRO FERTILIZER
2013
2012
2011
##
12,228,000
10,728,000
2,129,894
10,711,278
11,144
5,058,883
25,069,172
15,798,027
25,069,172
15,798,027
50,128,936
30,626,520
31,352,880
28,007,905
22,121,031
3,511,155
18,609,876
8,669,569
2,660,915
7,279,392
1,104,650
8,384,042
2,886,847
5,497,195
20,765,773
9,860,747
2,499,982
7,360,765
10,703,246
988,756
(4,331,237)
379,443
(3,951,794)
(1,017,219)
(2,934,575)
14,620,022
16,732,858
2,245,094
14,487,764
7,643,994
1,131,396
5,712,374
1,164,479
6,876,853
2,288,567
4,588,286
4.66
(2.59)
4.28
FATIMA FERTILIZER
2013
2012
(Restated)
2011
21,000,000
21,000,000
1,790,000
###
9,968,958
1,790,000
6,157,854
32,758,958
28,947,854
22,647,450
27,023,742
22,647,450
27,023,742
55,406,408
55,971,596
Sona DAP
2012
Restated
2011
744,436
224,477
772,801
226,139
38%
9,341,100
36%
9,341,100
22%
228,350
4,218,924
228,350
2,986,074
13,788,374
12,555,524
584,119
3,460,397
1,232,320
3,672,639
4,044,516
4,904,959
8,371,789
236,052
7,985,128
2,008,682
727,582
19,329,233
11,248,586
280,606
9,216,660
2,008,682
488,594
23,243,128
37,162,123
40,703,611
13,059,509
9,864,133
78,643
23,002,285
13,822,842
9,280
3,527,062
76,312
17,435,496
2,107,493
1,129,257
1,603,643
572,966
29,877
915,933
5,323,136
2,477,533
14,159,838
2,011,482
4,876,305
2,469,075
448,063
23,641
3,100,582
1,550,000
8,788,967
23,268,115
37,162,123
40,703,611
54,455,168
47,911,164
55,868,834
39,942,664
14,512,504
3,452,539
11,059,965
1,514,931
1,677,436
7,867,598
494,075
8,361,673
2,748,662
5,613,011
36,450,042
11,461,122
2,665,725
8,795,397
1,821,471
1,545,357
5,428,569
1,044,753
6,473,322
2,132,642
4,340,680
35,753,264
20,115,570
2,553,795
17,561,775
1,087,870
1,954,370
14,519,535
1,650,409
16,169,944
5,402,796
10,767,148
6.01
4.65
5.00
4.50
10.00
38.59
43.81
46.65
36.70
42.43
38.59
50.88
35.30
35.73
42.43
63.67
35.08
Sale (Met/Year)
Urea Production (Met/Year)
Years
Goth Machi
M.Mathelo
Plant-I
Plant-II
Plant-III
1982
325,452
1983
566,771
1984
589,258
1985
598,694
1986
1987
Total
Urea Domestic
Urea Export
Sona
FFC
325,452
267,641
566,771
493,339
42,000
589,258
474,439
140,772
598,694
521,898
78,957
594,901
594,901
581,683
65,237
632,079
632,079
587,891
1988
637,737
637,737
642,857
1989
632,972
632,972
678,430
1990
652,665
652,665
645,188
1991
629,266
629,266
643,608
1992
648,178
648,178
647,460
1993
657,376
477,339
1,134,715
1,176,611
1994
678,114
659,526
1,337,640
1,288,811
1995
680,062
700,031
1,380,093
1,422,666
1996
710,862
695,749
1,406,611
1,413,907
1997
773,048
734,275
1,507,323
1,482,948
1998
742,599
682,969
1,425,568
1,449,201
1999
726,723
734,689
1,461,412
1,581,655
2000
729,864
695,938
1,425,802
1,793,554
63,350
2001
737,607
756,417
1,494,024
1,883,849
2002
801,825
713,889
368,575**
1,884,289
2,033,883
328,147
57,000
2003
784,826
738,327
626,716
2,149,869
2,065,459
598,792
18,500
2004
741,831
716,621
715,577
2,174,029
2,708,544
148,832
13,500
2005
820,454
772,825
709,526
2,302,805
2,891,882
2006
809,373
760,442
725,839
2,295,654
2,888,668
2007
829,250
810,673
680,442
2,320,365
2,771,861
2008
841,117
797,108
683,986
2,322,211
3,027,245
2009
807,221
846,613
810,323
2,464,157
3,088,382
2010
867,346
806,589
810,706
2,484,641
2011
841,755
782,752
711,195
2,395,702
2,839,162
2012
799,432
772,307
834,054
2,405,784
2,677,668
2013
774,835
803,287
829,600
2,407,722
2,635,287
3,006,074
ale (Met/Year)
Urea Imported
Phos*/ Potassic
Total
267,641
535,339
615,211
600,855
646,920
2,907
590,798
22,542
665,399
2,605
162,113/14,086
14086
857,234
134,366
169,943/24,229
24229
973,726
206,244
148,753/18,945
18945
1,017,550
187,058
153,025/16,040
16040
1,003,583
129,006
207,038/7,147
7147
1,519,802
33,387
192,002/8,210
8210
1,522,410
60,604
122,640/9,527
9527
1,615,437
238,130
144,969/1,446
1446
1,798,452
146,813
81,181
1,710,942
169,610
187,392
1,806,203
26,277
291,499
1,899,431
321,977
9269
2,188,150
34,035
340,301
9377
2,267,562
285,776
7718
2,712,524
475,491
10947
3,169,189
105,693
515,993
11451
3,504,013
314,701
572,990
45293
3,824,866
321,601
824,361
20426
4,055,056
96,976
562,276
17305
3,448,418
58,370
348,275
19364
3,453,254
708,886
41128
3,838,396
722,766
3,728,840
662,387
9588
3,511,353
677,917
6489
3,362,286
845,383
7795
3,488,706
267,642
Start
Year
Plant Location
Company Name
Product
City/Town District
1962
Pak-Arab
Multan
Multan
CAN
1962
Pak-Arab
Multan
Multan
Urea
1967
LC&FL
1998
Jaranwala Faisalabad
SSP
Pak-American
DaudKhel
Mianwali
Urea
1968
Dharki
Sukkur
Urea
2001
PortQasim
Karachi
NPK
2005
1971
DawoodHercules
1979
Pak-Arab
Multan
Multan
NP
1980
FFC: Pak-Saudi
MirpurMath
elo
Sukkur
Urea
Plant 1
NP
ChichokiM Sheikhupur
allian
a
RahimYarK
SadiqAbad
han
Urea
Urea
1993
Plant 2
1998
FaujiJordanFertilizer Comp.
PortQasim
Karachi
DAP
Urea
1989
NFC:HazaraFertilizer Co.
HaripurHaz
ara
Abbottabad
Urea total
Total DAP
SSP total
CAN total
NP total
(Sub) Totals
Grand total of all products
NPK total
SSP
Design Capacity
000
Product
(000tonnes)
000
Product
Tonnes
P2O5
K2O
Total
tonnes
340
88
88
332
120
55
55
111
85
15
15
69
346
159
159
371
850
391
391
963
100
10
23
10
43
70
40
10
10
20
39
445
205
205
441
350
77
70
147
332
574
264
264
737
695
320
320
809
372
635
292
292
797
367
446
80
205
285
398
72
551
253
253
502
231
90
16
16
82
4216
1939
1939
4731
2176
446
80
205
285
398
72
162
31
31
151
340
88
88
332
86
390
86
78
164
369
85
100
10
23
18
51
70
5654
2204
337
18
2559
6051
ction 2006-07
(000 Nut.Tonnes)
372
% Capacity
Utilization
P2O5
K2O
Total
86
86
98
51
51
93
12
12
96
171
171
107
443
443
113
16
12
35
70
10
10
20
98
203
203
98
75
71
146
99
339
339
128
372
116
367
367
126
72
183
255
89
231
231
91
15
15
91
2176
2176
112
72
183
255
89
27
27
93
86
86
98
85
81
166
95
16
12
35
70
308
12
2747
107
2427