Value Added and its Distribution VALUE ADDED Net sales 37,764,159 39,153,254 Other income 218979 270.548 Cost of sales (excluding employees’ remuneration) Geg87.247) 5.772.336) Operating expenses (excluding employees’ remuneration) (621,082) 671819) Finance cost (48.666) 38,075) Total 4,956,143 3,041,572 DISTRIBUTION ‘To Government wr [75341 | 41945 Income tax | 601.660 1,023,576 680,001 11,065,521 To Employees Employees’ remuneration [916880 | 794.076 Wepre [202,230 112.589 1.119.210 906,665, To Shareholders Dividend 714,000, 428,400 Retained In Business Profit retained 2,442,932 640,986 Total 4,956,143 041,572 Distribution % x {Government 1a 35% Employees 2a 30% Shareholders 14% 14x Retained in business 50% aan Total 100% 100% MARCH 31, 2015, MARCH 34, 2016 (Percentage) (Percentage) ar, 30% so ad 1m Government wel 1m Government mEnpioyeee| I Enp.oyess WShaehoiders Shareholders - aE i Retened i Busiecs onBt tC a Financial Highlights PROFTTAND LOSS ACCOUNT Sales Gross prot loss) Operating prot / (oss) Profit iss) before tox Profit / (iss) after tax Proposed dividend BALANCE SHEET Share capital Shorcholders' equity Gapital expenditure Fined esses - at cost Fined eset net Non eurent bites Total asets Working capital Capital employed SIGNIFICANT RATIOS. Profitability Gross profit/ loss) margin Operating prof / (loss) margin Profit / loss before tox Profit / iss after tax Liguidty Current aio Quick ratio Long tenn debt to equity Tota abilities to equity ‘etivity Total asets turnover Fined asets tumover Stock tunover aio Interest cover (1) Interest cover (1) Number of days stock Eaming Return on capital employed Return on equity 61) Resurn on equity (AP) Eaming / (lass) per shore Eaming / (loss) per share (AT) Price earning aio (AT) Dividend per ordinary share OTHER INFORMATION Break up value per share Market vlue er share Contribution to national exchequer Units prio Unit sold Manpower (Permanent + Contractual) Exchange rates at year end date ros Rswo$ Beto¥ Times Times Times Times Times Times Times Times Ties Days, Pipeeww FF sin Units Units Nos, PP « 37.764 4773 3.786, 3.767 3.162 718 1428 5.120 662 8531 2933 ot 3926 “1806 5120, 126. 100 100 a4 12 27. 27 129 20, 228 708 52 wae 1003 BAe za aa 5.00 183 758 73320 2311 1.160 ‘194 8s 39,153 2887 2.135 2097 ‘1974 428 1428 2391 239 8.150 3081 56 12317 013) 2391 73. 54 27. 09 52. a2 9 89, Set 202 41 S72 iy 572 7 75. 73 3.00 7 55 13.750 eszes 23310 ze 653 0.95 0275 a7 716. 525 248 8 1428 1.365 866 2.987 3503 16.46 (G.160) 1.365 48 24 17 oe 08. iia 20 86 80. 37, 23 46 184 421 196 a7 wa 030 16,600 im Gar) (499) (632) 1428 1128 397 202 3,068 110, ‘a.a89 Go22) 03) ep Go) G2 06 02 Ba. i? 45. 53. 2, @) (280) G56) G79) G5) Gn Go) it 6281 1.080 11.406 938 075 un 2 tsue of 100% night shares * Bonus shares22026 109 (3), (a5) (98) 1478 1.677 5S 7B2 3945 417 0573 816) 2st 09. oy a 0) 07. os. ey 2a 56. 76 0, ao, Goo, aa) (aoa) an ep Ga) 1 10 ‘aze9 16.440 16.467 975 5.50 103, 15.054 (240) (633) (988) (52) 1428 1976 7786. ‘4594 1333 046 @125) 3476, as) a 2. a. 06 oa. 45. ia a5 61 Ga. os) ws) Cr) (G55) 69) (6o. @n 4 16 6316 11.980 1304 887 aaa 0.90 14450 W oo) 22). (402) 1428 2028 229 7.783 5406 1.500. gate G.685) 4328 13, ea Ga) es) 07 as. 35. 1a 26 61 as) (8) Goo) os) 33) aa) 43) 1 Base 12,780 12502 955 aos ‘on 14715 627 297 4 75 146 3230 188 5979 4010 ‘50 6317 (652) 3.730 43. oa 05: 08 02 21 22 a7, 6s. 13. 43. 56. 17, 23. 26. os. 80 23 4 4958 15.080 15.604 ‘946 ean 063 17055, 100 76) sz) (205) mm 24a 2521 5.832 4341 11958 3.305 (2s) 4.aa2 06 ao 8) a6) 09. 10 34. 2a 39 49 9) m4 on 8.7) 03) a) asa 6213 tz0 18,709 1034 8s 052 (Rupees in ion) 25639 11168 1.180 1138 705 za8* (Rupees in milion) 420 2.205 1833 3.535 2.358 72 ‘arma 473 3.705 46 44 27 1a oa 34 28 109 67, 255 162 243 473 za 270. 168 62 20. iz Sasi 31476 30,719 1198 0.10 051Horizontal Analysis a momo msm mmo azo EQUITY AND LABIITIES SIGE CPTLAND SERS usted upcel AED) eKO tA —ekeOD a8) SS vem mm man ve nun tunes sot mw ae lam nips amide) SIGS? ze (GAG) (ORB) GSS) ARGS) HS) wae weunes lag sad atm (oon) tam) fa) fay 2 Wes as wave as mm Nerden i um aa0 ooo ino come ames Caron sotnel ere e zi Fy Cmts ne sot tea ond aad sudan im 3m nas se doa) Sas) Thad ais ATM AS GSD Glo MRR Ts GS) IM) OS TM) 2373 SHG OAS ATSB) assets owas Feet den dase anus) SMES we SM (Gada 8), gets a a eo ee ot mig Sa76 aia Tas) Sus aaa) otter) gue ead ass Cr ae ee ee ee ee luge des joe we eet ered an mon avs em te a GA) a) comRO SS Sons TI aS Seow SC Sekine ee Inde uz sina) Sturt oi (ana om0 Atwospsumemidthenenke USI 2881 Ze ISSR AGM OMG DSL Chk | SIS 25U5) NOT UTR Ra) msm) Tuc a7 TSN aA AT ASA) SOS ISS ANB GSS ZEST SES) NR) Cnet Femi Cao Tse (uO CAM) (Kom) OW) sw) Gest) Tea 2ST) OE) —_— Dstt age ec ee ec ee a Aisin ops (moe) (are) nim) OE) (nL) CsI) cong nne mam Zass aA ONG OL) pang ens (su) Gian) Ga) era) sad sow ase Pat es emcees Feast (os) (09 (sey) ease) od) Plt een a eT) rad FST ft a tn sigs one mri) (aes Sm) Ass) aVertical Analysis to sted i ei eo em Le ea) eSB Unie t/a SmI one (IRR) ORI] Bm) GMa ovcnnem wares leg Ses 530A) eo Guy ws a oe eed ns ux wo om om om onmem aunes Compaen dred ree st : aaa Cpe leng owes aa er i= Jonata Mm NO owe asexual Tansee asm) AS iN AE AE FT ASSETS ova sss Fret td et eee ee] argos a a pub otngages Ee a lege dats ea om um BS wSY legen ens we we wee mOsm mac Mewliatin eu me LSE mere si a a ) Susie Sim oso Ase ase; Mee cd za we Dot insets 0 Pa res nese mls OIA 25m ewe BM Gah ts SI 2K50 AST RATT eae wat Toman Re awe wM_xoM_—_UN Hn SUS BISA SLM RSE ZIG IHN HM ale bums) Gaon cuz) Gn) Cr) ad bam ona) eartit a =a (ous) 0650 caM ci) Gad) om) oro = ci on cn) ts) now) or) omy) Ohne ee eee i er peng es asian) (osu) 24107) (evade) (KS) za) (0a) ar 030 (azo) & Falta Ian ak aM oe ee mee a (io) cus oman) twa | om om am om Pat in i Teton Geared nem Omer) Cram) Ca) DR) ‘ et sex uum Mwy oun men ek monAuditors’ Report to the Members ‘We have audited the annexed balance sheet of Honda Atlas Cars (Pakistan) Limited (the "Company’) as at March 31, 2015 and the related profit and loss account, statement of comarehensive income, statement of changes in equity and cash flow statement together with the notes forming part thereof, forthe year then ended and we state that we have obtained all the information and explanations which, to the best of our knowledge and belie, were necessary for the purposes of our aut Itis the responsibilty of the Company's management to astablish and maintain a system of intemal control, and prepare and present the above said statements in conformity with the approved accounting standards and the requirements of the Companies Ordinance, 1984. Our responsibility is to express an opinion on these statements based on our audit. ‘We conducted our audit in accordance with the auditing standards as applicable in Pakistan, These standards require that we plan and perform the aut ta abtain reasonable assumnce ahout whether the ahowve said statements are free of any ‘material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the above said statements. An audit also includes assessing the accounting policies and significant estimates made by ‘management, as well as, evaluating the overall presentation ofthe above said statements. We believe that our audit provides a reasonable basis for our opinion and, after due verification, we report that: (in our opinion, proper books of account have been kept by the Company as required by the Companies Ordinance, 1984; (6) in our apinion: (the balance sheet and profit and loss account together with the notes thereon have been drawn up in conformity with the Companies Ordinance, 1984, and are in agreement with the books of account and are Turther in accordance with accounting policies consistently applied: (ithe expenditure incurred during the year wes forthe purpose ofthe Company's business; and Wi) the business conducted, investments made and the expenditure incurred during the year were in accordance with the objects of the Company: (©) in our opinion and to the best of our information and according to the explanations given to us, the balance sheet, profit and loss account, statement of comprehensive income, statement of changes in equity and cash flow statement together with the notes forming part thereof conform with approved accounting standards as applicable in Pakistan, and, give the information required by the Companies Ordinance, 1984, in the manner so required and respectively give a true and fair view ofthe state of the Company’ affairs as at March 31, 2015 and of the profit, total comprehensive income, changes in equity and its cash flows for the year then ended: and (@ in our opinion Zakat deductible at source under the Zakat and Ushr Ordinance, 1980 (XVil of 1980), was deducted by the Company and desposited in the Central Zakat Fund established under section 7 of that Ordinance. AF Ferguson & Co, Chartered Accountants Lahore: May 14, 2015 Engogement Partner: Muhammad MasoodBalance Sheet as at March 31, 2015 Rupees in thousand Note 2015 2014 EQUITY AND LIABILITIES ‘SHARE CAPITALAND RESERVES Authorized share capital 200,000,000 (2014: 200,000,000) ‘ordinary shares of Rs 10 each 2,000,000 2,000,000 Issued, subscribed and paid up share capital 1142,R0N N00 (7014: 147,80n,000) ‘ordinary shares of Rs 10 each A 1,428,000 1,428,000 Reserves, 6 526,000 76,000 Accumulated profit 3,165,752 887,220 5,119,752 2,391,220 NON-CURRENT LIABILITIES Deferred liabilities 7 52852 44,425, Deferred revenue 11,623 11,709 64.175 56,134 (CURRENT LIABILITIES Current portion of deferred revenue 4651 Short term borrowings - secured 8 : : Accrued mark up 9 1,762 13,790 Trade and other payables 10 8,735,729 9,856,245, 9,742,142 9,870,035, CONTINGENCIES AND COMMITMENTS uu 33926069 12,317,389 The annexed notes 1 to 42 form an integral part of these financial statements.Rupees in thousand Note 2015 2014 ASSETS NON-CURRENTASSETS Property, plant and equipment 2 2,822,852 2873,067 Intangible assets 3 71373 86431 Capital worlcin-progress 4 38,776 81,293 Long term loans and advances 15 62,438 s2q72 Long tern deposits 4,082 4,082 Defesred taxation 16 378,307 303,238 3,377,788 3,490,843 CURRENT ASSETS Stores and spares. 7 132,724 116,205, Stock in trade 18 5,523,796 3,852,540 Trade debts 19 44224 : Loans, advances, prepayments and other receivables 20 1,489,154 2503651 Cash and bank balances a 3,358,383 2,354,150 10,548,281 8.826.546 13.926,069 12,317,380 Yusuf H. Shirazi Toichi Ishiyama Chairman, Chief Executive