Noon Sugar Mills LTD

Balance Sheet
As at September 30, 20xx
In thousands
ASSETS
Non-current assets
Property, plant and equipment
Investment property
Investment
Long term loans and advances
Long term deposits
Total Non-Current Assets
Current assets
stores, spares and loose tools
stock-in-trade
Trade debtors
Income tax refundable
loans and advances
Deposits and prepayments
other receivables
Bank balances
Investments classified as held for sale
Total assets
EQUITY AND LIABILITIES
Share Capital & Reserves
Authorized capital
ordinary shares of Rs10 each
Issued, subscribed and paid up capital
Reserves
Unappropriate profits
Total equity
Non-current liabilities
Long term finances
Liabilities against assets subject to finance lease
long term deposits
staff retirement benefits
Deffered taxation

Current liabilities

Horizontal analysis

2010

2011

1,117,559
17,054
45,086
847
1,286
1,181,832

1,091,784
16,968
49,420
o
3,713
1,161,885

61,990
160,060
16,872
24,850
23,235
879
4,214
38,627
330,727
23,722
1,536,321

68,103
876,962
48,282
34,110
58,571
1,415
3,915
11,704
1,103,062
23,722
2,289,429

200,000

200,000

165,175
739,217
(200,075)
704,317

165,175
739,217
(164,751)
739,641

0
0
1,123
49,757
0
50,880

0
0
411
49,683
0
50,094

Current portion of long term liabilities

short term finances
Trade and other payables
Accrued mark up
Taxation
Total liabilties
CONTINGENCIES AND COMMITMENTS
Total liabilties and owners equity

132,872
522,976
84,482
23,448
17,346
781,124
832,004

837
1,224,228
194,928
48,327
31,374
1,499,694
1,549,788

0
1,536,321

0
2,289,429

Horizontal analysis
2010-2011
-2.31%
-0.50%
9.61%
#VALUE!
188.72%
-1.69%

Vertical analysis
2010
2011
72.74%
47.69%
1.11%
0.74%
2.93%
2.16%
0.06% #VALUE!
0.08%
0.16%
76.93%
50.75%

9.86%
447.90%
186.17%
37.26%
152.08%
60.98%
-7.10%
-69.70%
233.53%
0.00%
49.02%

4.03%
10.42%
1.10%
1.62%
1.51%
0.06%
0.27%
2.51%
21.53%
1.54%
100.00%

2.97%
38.30%
2.11%
1.49%
2.56%
0.06%
0.17%
0.51%
48.18%
1.04%
100.00%

0.00%

13.02%

8.74%

0.00%
0.00%
-17.66%
5.02%

10.75%
48.12%
-13.02%
45.84%

7.21%
32.29%
-7.20%
32.31%

0.00%
0.00%
-63.40%
-0.15%
0.00%
-1.54%

0.00%
0.00%
0.07%
3.24%
0.00%
3.31%

0.00%
0.00%
0.02%
2.17%
0.00%
2.19%

-99.37%
134.09%
130.73%
106.10%
80.87%
91.99%
86.27%

8.65%
34.04%
5.50%
1.53%
1.13%
50.84%
54.16%

0.04%
53.47%
8.51%
2.11%
1.37%
65.51%
67.69%

0.00%
100.00%

0.00%
100.00%

Chasma Sugar Mills

Balance sheet
For the Year Ended September 30, 20xx

ASSETS
Non-Current Assets
Property, plant and equipment
Intangible assets
Long term loan
Security Deposits
Total Non-Current Assets
Current Assets
Stores and spares
Stock-in-trade
Trade debt
Loans and Advances
Deposits, prepayments and receivables
Accrued Interest
Investments
Income tax refundable
Bank balances
Total Current Assets
Total Assets
EQUITY AND LIABILITIES
Share Capital & Reserves
Share Capital and Reserves
Issued, subscribed and paid-up capital
General reserve
Accumulated Loss
Total Equity
Surplus on Revaluation of Property, Plant and Equipment
Non-Current Liablities
Term and demand finances (L-T)
Loans from related parties (Associated Companies)
Liabilities against assets subject to finance lease
Deferred Taxation
Total Non-Current Liabilities
Current Liabilities
Current portion of L-T liabilities
Short term finances
Trade and other payables
Accrued mark-up and interest
Sales tax and federal excise duty payable

In Thousands
2010

2011

2,335,101
253
0
3,684
2,339,038

3,099,093
200
0
3,709
3,103,002

144,615
256,658
79,534
55,463
1,854
0
26,608
25,531
45,797
636,060
2,975,098

169,366
1,969,291
38,732
75,210
1,924
0
179,040
45,489
65,127
2,544,179
5,647,181

500,000

500,000

286,920
327,000
(190,348)
423,572

286,920
327,000
(35,687)
578,233

530,566

1,066,894

556,664
502,500
0
230,157
1,289,321

340,000
502,500
6,207
508,825
1,357,532

233,334
0
317,017
90,793
26,831

248,366
1,905,100
269,997
125,448
16,017

Taxation
Total Current Liabilities
Total Libilities and Equity

63,664
731,639
2,975,098

79,594
2,644,522
5,647,181

Horizontal analysis
2010-2011

Vertical analysis
2010
2011

32.72%
-20.95%
0.00%
0.68%
32.66%

78.49%
0.01%
0.00%
0.12%
78.62%

54.88%
0.00%
0.00%
0.07%
54.95%

17.12%
667.28%
-51.30%
35.60%
3.78%
0.00%
572.88%
78.17%
42.21%
299.99%
89.81%

4.86%
8.63%
2.67%
1.86%
0.06%
0.00%
0.89%
0.86%
1.54%
21.38%
100.00%

3.00%
34.87%
0.69%
1.33%
0.03%
0.00%
3.17%
0.81%
1.15%
45.05%
100.00%

0.00%

16.81%

8.85%

0.00%
0.00%
-81.25%
36.51%

9.64%
10.99%
-6.40%
14.24%

5.08%
5.79%
-0.63%
10.24%

101.09%

17.83%

18.89%

-38.92%
0.00%
#DIV/0!
121.08%
5.29%

18.71%
16.89%
0.00%
7.74%
43.34%

6.02%
8.90%
0.11%
9.01%
24.04%

6.44%
0.00%
-14.83%
38.17%
-40.30%

7.84%
0.00%
10.66%
3.05%
0.90%

4.40%
33.74%
4.78%
2.22%
0.28%

25.02%
261.45%
89.81%

2.14%
24.59%
100.00%

1.41%
46.83%
100.00%

Noon Sugar Mills LTD

Profit and Loss Account
For the Year Ended December 31, 20xx

Sales - net
less: cost of sales
Gross profit

In Thousands
2010
2011
1,723,592 3,101,489
1,719,524 2,695,524
4,068
405,965

Horizontal analysis
2010-2011
79.94%
56.76%
9879.47%

Distribution and marketing expenses

Administrative expenes
other operating expenses

23433
69787
3,860
97,080
(93,012)

77,595
78,938
4,653
161,186
244,779

231.14%
13.11%
20.54%
66.03%
-363.17%

other operating income

Interest and mark-up

14,157
0
(78,855)
111415

9,280
0
254,059
197,925

-34.45%
0.00%
-422.19%
77.65%

56,134
6,508
62,642

-129.50%
-7.46%
-134.19%

31,374
(3,590)
0
27,784
34,858
0
34,858
0
34,858

80.87%
358900.00%
0.00%
60.18%
-117.38%
-100.00%
-114.17%
0.00%
-114.17%

Finance cost
Profit/lossfor the year before share of profit of an associated
company
(190,270)
share of profit of associated company- net of taxation
7033
Profit/loss before taxation
(183,237)
TAXATION:
Current year
Prior year
Deffered
Profit/loss after taxation
Impairment loss on investments
Profit/loss for the year
Other comprehensive income
Total comprehensive income/loss for the year

Earnings /loss per share

17,346
(1)
0
17,345
(200,582)
45,503
(246,085)
0
(246,085)

(14.90)

2.11

-114.16%

zontal analysis

Vertical analysis
2010
2011
100.00% 100.00%
99.76% 86.91%
0.24% 13.09%
0.00%
0.00%
1.36%
2.50%
4.05%
2.55%
0.22%
0.15%
5.63%
5.20%
-5.40%
7.89%
0.00%
0.00%
0.82%
0.30%
0.00%
0.00%
-4.58%
8.19%
6.46%
6.38%
-11.04%
0.41%
-10.63%

1.81%
0.21%
2.02%

1.01%
0.00%
0.00%
1.01%
-11.64%
2.64%
-14.28%
0.00%
-14.28%

1.01%
-0.12%
0.00%
0.90%
1.12%
0.00%
1.12%
0.00%
1.12%

-0.0009% 0.0001%

Chasma Sugar Mills

Profit and Loss Account
For the Year Ended September 30, 20xx

Sales - net
less: Cost of Sales
Gross Profit
Distribution Cost
Administrative Expenses
Other Operating Expenses
Other Operating Income
Profit/(loss) from operations
Finance cost
Profit/(loss) before taxation
Taxation
Profit/(loss) after taxation
Other comprehensive income
Total comprehensive income
Earnings per share

In Thousands
2010
2011
6362700 5,882,738
5597467 5,186,437
765233 696,301

Horizontal analysis
2010-2011
-7.54%
-7.34%
-9.01%

14251
84156
25870
-6984
117293
647940
300141
347799
38432
309367
0
309367

13,154
98,492
12,591
-40,161
84,076
612,225
446,734
165,491
24,881
140,610
0
140,610

-7.70%
17.04%
-51.33%
475.04%
-28.32%
-5.51%
48.84%
-52.42%
-35.26%
-54.55%
0.00%
-54.55%

11

4.90

-54.55%

28692
11

Vertical analysis
2010
100.00%
87.97%
12.03%
0.22%
1.32%
0.41%
-0.11%
1.84%
10.18%
4.72%
5.47%
0.60%
4.86%
0.00%
4.86%
0.00%
0.00%

Vertical analysis
2011
100.00%
88.16%
11.84%
0.22%
1.67%
0.21%
-0.68%
1.43%
10.41%
7.59%
2.81%
0.42%
2.39%
0.00%
2.39%
0.00%
0.00%

Comparison of Ratios
At september 30, 2011

Rough calculations:
Inventory
Interest expense
Market price per share
No. of common shares
Accounts receiavbles
Sales per day
EBIT
SOLVENCY RATIOS:
Working capital
Current ratio
Quick ratio
Accounts receiavble analysis
DSO
Inventory analysis
Fixed asset to long term liability
Liabilities to stock equity
No. of times interest earned
PROFITIBILITY RATIOS:
Net sales to asset ratio
Rate earned on total assets
Return on equity
Rate of return on common stock
Earnings per share
Price earning ratio

Formulae
Store, spare & loose tools + stock-in-trade
Finance cost
Taken form business recorder
Issued, subscribed & paid up capital
Trade debts
sales/365
Earnings Before Interest and dTaxes
Current assets-currentliabilities
Current assets/current liabilties
(Current assets-inventory)/current liabilties
Accounts receivable/sales per day
COGS/inventory
PPE/non-current liabilties
(current + non-current liabilties)/Total equity
(Net income + interest expense)/interest expense

net sales/ assets

EBIT/Total assets
NI/ Total Equity
Same as ROE as there are no prefferd dividends
Net income/No of common shares
Market price/EPS

parison of Ratios
ptember 30, 2011

Noon Sugar mills

945,065
197,925
PKR 16.49
165,175
48,282
8,497
-PKR 21.79
(396632.000)
0.736
0.105
4.102
5.682
2.852
21.795
2.095
1.176

1.355
4.713%
0.047
0.211
78.138

Chasma Sugar mills Industry average

2,138,657
446,734
PKR 8.79
286,920
38,732
16,117
PKR 0.11
(100343.000)
0.962
0.153
8.724
2.403
2.425
2.283
6.921
1.315

1.042
24.317%
0.243
0.490
17.936