Balance Sheet

as at December 31, 2010

Pakistan Tobacco Company

Lakson Tobacco Company

2010

2009

2008

2010

2009

2008

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Non Current Assets

Property, Plant and Equipment

5,823,688

5,952,108

5,599,758

3,847,679

3,845,739

3,322,278

Long term investment in subsidiary company

5,000

5,000

5,000

Long Term Loans

3,417

7,310

9,244

421

853

1,681

Long Term Deposits and Prepayments

15,375

19,915

41,172

51,678

42,603

37,634

5,847,480

5,984,333

5,655,174

3,899,779

3,889,196

3,361,594

6,002,823

5,765,367

4,059,063

7,706,696

5,880,236

5,327,107

199,207

218,375

190,646

359,922

319,477

245,836

1,597

1,684

2,666

164,240

65,847

36,181

48,267

48,598

65,917

10,405

50,050

130,204

118,329

72,483

105,728

161,579

109,162

113,834

556

1,408

3,959

Other receivables

93,546

88,147

246,675

90,018

80,697

23,571

Income tax paid in advance

15,206

398,964

87,122

150,780

Current Assets
Stock-in-trade
Stores and spares
Trade debts
Loans and advances
Short term prepayments
Profit accrued

Cash and bank balances

51,945

47,874

69,172

15,104

109,559

46,718

6,530,920

6,242,528

4,739,867

8,907,484

6,703,558

6,078,190

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SHARE CAPITAL AND RESERVES

Authorised capital

3,000,000

3,000,000

3,000,000

1,000,000

1,000,000

1,000,000

Issued, subscribed and paid-up-capital

2,554,938

2,554,938

2,554,938

615,803

615,803

615,803

Reserves

1,047,149

1,705,296

1,053,393

5,972,124

5,243,473

4,671,938

576,894

960,653

706,220

3,602,087

4,260,234

3,608,331

7,164,821

6,819,929

5,993,961

Trade and other payables

5,339,725

5,037,469

4,324,704

1,187,234

1,210,484

1,263,291

Accrued interest/mark-up

46,789

27,659

10,354

61,564

35,176

22,465

Short term running finance

2,252,218

1,300,837

572,397

2,471,772

789,525

770,668

Current income tax liability

490,815

303,183

Sales tax and excise payable

1,449,872

1,346,640

996,495

7,638,732

6,856,780

5,210,638

5,170,442

3,381,825

3,052,919

1,137,581

1,109,847

1,576,072

472,000

391,000

392,904

Unappropriated profit

Current liabilites

Non current liabliites

Deferred taxation

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-

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-

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-

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-

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-

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Profit and Loss Account

For the year ended December 31, 2010
Pakistan Tobacco Company
2010

2009

Lakson Tobacco Company

2008

2010

(Rupees in thousand)

Gross turnover

60,195,535

Excise duty

2008

(Rupees in thousand)

33,890,900

30,475,781

24,937,931

###

###

###

(4,925,476)

(4,320,684)

(3,474,885)

(8,766,485)

(8,223,439)

(6,829,699)

###

###

###

21,666,525

18,872,495

Less: Sales Tax

Turnover-net of sales tax and excise duty20,952,629

Cost of sales

57,544,309

2009

###

49,053,928

###

###

13,302,502

13,400,669

11,297,221

(8,956,591)

(8,431,334)

(6,980,754)

Gross profit

6,204,912

8,224,459

7,276,759

4,345,911

4,969,335

4,316,467

Distribution and marketing expenses

(3,279,390)

(2,246,014)

(1,933,364)

(2,540,291)

(2,640,804)

(1,915,540)

Administrative expenses

(1,233,165)

(1,100,814)

(928,358)

(813,395)

(701,145)

(530,091)

(208,211)

(514,665)

(615,458)

Other operating expenses

Other operating income

Operating profit
Other expenses

Other income

Finance cost
Profit before taxation

46,610

226,499

60,551

(4,674,156)

(3,634,994)

(3,416,629)

1,530,756

4,589,465

3,860,130

4,589,465

36,933

102,826

59,600

1,567,689

4,692,291

3,919,730

(--- )

(--- )

(--- )

(--- )

(3,353,686)

(3,341,949)

(2,445,631)

1,627,386

1,870,836

992,225

3,860,130

(26,013)

920,291

(141,028)
1,486,358

1,714,600

93,663

103,111

76,358

1,589,469

1,790,958

(137,275)

(89,336)

4,648,489

3,893,717

876,679

(492,909)

(1,626,083)

(1,361,422)

(304,117)

(541,749)

Profit after taxation

925,100

3,022,406

2,532,295

572,562

958,384

3.62

11.83

9.30

15.56

9.91

(156,236)

1,013,954

Taxation

Earning per share

1,418,009

(43,802)

(--- )

(71,934)

1,530,756

(149,680)

(--- )

1,500,133

(45,639)
1,745,319
(639,919)
1,105,400

17.95

1-

LIQUIDITY RATIOS

The liquidity of a business firm is measured by its ability to satisfy its short term

obligaions as they come due.

A. NET WORKING CAPITAL

Net working capital is commonly used to measure a firm's overall liquidity. It is calculated
by subtracting current liabilities from current assets.