FINANCIAL STATEMENTS ANALYSIS

OF
COMPANIES (NON-FINANCIAL)
LISTED AT KARACHI STOCK EXCHANGE

(2005-2010)

STATE BANK OF PAKISTAN

STATISTICS AND DWH DEPARTMENT

Team Leader

Shamsul Arifeen

Sr. Joint Director

shamsul.arifeen@sbp.org.pk

Team Members

Shahid Latif

Joint Director
shahid.latif@sbp.org.pk

Muhammad Saeed

Assistant Director
Muhammad.Saeed2@sbp.org.pk

Asif Ali

Assistant Director
Asif.ali4@sbp.org.pk

Sadia Batool

Assistant Director
Sadia.Batool@sbp.org.pk

Contents
Preface
Introduction
i)
Methodology
ii)
Concepts & Definitions
iii)
Performance Indicators
Executive Summary

Key Performance Indicators by Economic Groups

Analytical Tables

I. Sectors
a) Overall
b) Private
c) Public
II. Economic Groups
1. Textile
i)
Spinning, Weaving, Finishing of Textiles
ii)
Made-up Textile Articles
iii)

1-2
3-4
5-6
9-10
11-157
159-166
168-182

Sugar
Other Food Products n.e.s.

185-186
187-224
226-245

3. Chemicals, Chemical Products & Pharmaceutical

4. Other Manufacturing n.e.s.
5. Other Non-Metallic Mineral Products Overall
i)
Cement
ii)
Mineral Products
6. Motor Vehicles, Trailers and Auto parts
7. Fuel & Energy
8. Information, Comm. and Transport Services
9. Coke & Refined Petroleum Products
10. Paper, Paperboard and Products
11. Electrical Machinery and Apparatus
12. Other Services Activities
III. Appendix:1
Appendix:2

xxiv-xxiv

Other Textiles n.e.s.

2. Food
i)
ii)

i
ii
iii- iii
iii-xiv
xiv-xvii
xviii-xxiii

248-292
295-329
332-333

334-356
358-367
370-393
396-415
418-432
435-445
448-458
461-470
473-483
485-488
489-490

Preface
The Non-financial Corporate Sector is an important segment of a countrys economy and a sound, stable and robust industrial
base is therefore essential for economic well being of a country and its populace.
Non-financial Corporate sector in Pakistan represents a diversified nature of businesses including Textile, Food,
Chemicals & Pharmaceuticals, Other manufacturing n.e.s., Other Non-metallic mineral products, Motor
Vehicles/Trailers and auto parts, Fuel & Energy, Information Communication and transport services, Coke &
petroleum products, Paper & paperboard products, Electrical machinery & apparatus & Other services.
Disclosure and transparency in information on business activities are of crucial importance to all stakeholders.
An overview of business and financial conditions of non-financial institutions presented in a structured manner is
published in form of financial statements. For large industrial concerns, the financial statements are often complex
and are prepared under international accounting standards. These statements usually include an extensive set of notes
to the financial statements. The notes typically describe each item on the balance sheet, income statement and cash
flow statement in further detail.
The stakeholders and users, on the other hand also require financial indicators that can provide information on how
well a company is performing and what will happen in future. Keeping in view the need of the users, the Statistics &
Data Warehouse Department has revamped the analysis of the financial statements of non-financial institutions. All out
efforts have been made to select useful and accurate data from financial statements and compute ratios that can
provide valuable clues about the financial health of the institutions. The analysis is now published in form of publication
namely, Financial Statements Analysis of Companies (Non-Financial) Listed at Karachi Stock Exchange. The publication
contains analysis of financial statements of Non-financial institutions for the period 2005-10.
It is hoped that the publication will provide a tool to researchers, policy makers and investors to understand the performance
of non-financial sector of Pakistan. Comments on the analysis and suggestions for further improvements in the publication are
highly welcome.

(Dr Azizullah Khattak)

Director
Statistics & DWH Department

Introduction
The analysis and format of this publication differ from the previous versions for it is revamped to
incorporate changes in the regulations and culture of corporate sector. For the purpose of comparison,
analysis of last two years (2009& 2010) is carried out on the new format. Also presented in this
publication is last four years mapped data (2005-2008). For 2010,all listed companies on Karachi Stock
Exchange (KSE) except for financial sector have been classified in line with new economic categories..
The year-wise distribution of companies by economic group is as under: Table: 1 Distribution of companies by economic groups.

Economic Groups

2009
164

2010
164

145

145

13

13

54

54

i) Sugar

36

36

ii) Other food products n.e.s

18

18

3) Chemicals, chemical products and Pharmaceuticals

43

43

4) Other manufacturing n.e.s.

33

33

5) Other non-metallic mineral products

29

29

21

21

6) Motor vehicles, trailers and auto parts

22

22

7) Fuel & Energy

18

18

8)Information, Communication & transport Services

13

13

9) Coke and refined petroleum products

10) Paper, paperboard and products

11) Electrical machinery and apparatus

9
411

9
411

1) Textiles
i) Spinning, weaving, finishing of textiles
ii) Made-up textile articles
iii) Other textiles n.e.s.
2) Food

i) Cement
ii) Mineral products

12)Other services activities

Total:

The sum of Assets and Liabilities of a company may exhibit minor differences due to rounding off
separate items. Ratios and percentages have been worked out after rounding off the figures in thousands,
which may, therefore, slightly differ from ratios calculated on the basis exact numbers in balance sheet.
The symbol appearing in the analytical tables stand for Not applicable or Not available.

Methodology
Methodology is based on Ratio Analysis, a powerful tool to analyze the financial statements of any company.
Ratio analysis measures inter-relationship between different sections of the financial statements. Ratios are
taken as guides that are useful in evaluating a companys financial position and operation and making
comparison with results in previous years or with others in the same industry. The primary purpose of ratio
analysis is to point out areas needing further investigation. All the ratios are calculated from the following
financial statements and relevant notes to accounts.

Balance Sheet

Profit and Loss accounts

Statement of changes in Equity

Cash Flow Statement

Total shareholders equity is computed as the sum of ordinary share capital plus reserve and surplus plus unappropriated profit/ (loss) and the revaluation. Analysis of Non-Financial sector used the following concepts
and definitions as given below.

II Concepts and Definitions

A. Non-Current Assets
1. Capital work in progress:
Work in process consists of the unfinished products in a production process which are not yet complete but
either being fabricated or waiting in a queue or storage. They must be accounted for as funds (capital) that have
been invested for future enhancement in production.

2. Operating fixed assets:

These are owned by an enterprise engaged in production of items (directly or indirectly); which will be
available for sale. These are not readily convertible into cash during the course of normal operations of an
enterprise. These assets are not subject to periodical exchange through sales and purchases. Fixed assets are of
permanent nature and are not normally liquidated or intended to turn into cash except in the form of
depreciation, which is added to the cost of goods sold. The following balance sheet items are included in the
category of fixed assets: -

(a) Real Estate

(i)

Freehold and leasehold land

(ii)

Factory and office buildings

(iii) Residential buildings

iii

(iv) Capital projects in progress at cost

(b) Plant, Machinery and Rolling Stock

(i)

All types of plant and machinery used for production and not for sale

(ii) Crockery, cutlery, silverware and enamelware in hotels

(iii) Construction tools
(iv) Livestock in farming company
(v) Cars, lorries, trucks, ships, launches etc.
(vi) Railway siding and trolley lines
(vii) Computers and other electronic equipments

(c) Furniture, Fixtures, Fittings and Allied Equipment

(i) Electric fans, refrigerators, air conditioners, electric heating, sanitary and other fittings.
(ii)

Laboratory equipment

(iii) All types of office furnitures and equipment

(iv) Advertising, fixtures and fittings

3. Operating fixed assets after deducting accumulated depreciation

Deducting the accumulated depreciation from the operating fixed assets of the company gives this item.

4. Depreciation for the year

It includes all the depreciation charged to the profit and loss account. Owing to absence of uniform
accounting standards, depreciation is a subjective item and varies from company to company. It is important
for an analyst to know what effect such variation could have on the net profit.

5. Intangible Assets
Intangible assets are defined as identifiable assets that cannot be seen, touched or physically measured,
which are created through time and/or efforts and that are identifiable as a separate asset. The possible
items are:
(i)

Copyrights

(ii)

Patents

(iii)

Trademarks

(iv)

Goodwill

(v)

Exploration accounts

(vi)

Knowledge accounts

(vii)

Computer software accounts

iv

6. Long term investment

Investment is acquisition of financial, physical or technology based assets by an investor for their potential
future income, return, yield, profits, or capital gains. The long-term investments account differs largely
from the short-term investments account in that the short-term investments will most likely be sold,
whereas the long-term investments may never be sold. They may include:
(i)

Long-term stocks

(ii)

Long-term bonds

(iii)

Long-term investment in real estate

(iv)

Long-term Government and corporate securities

(v)

Long-term Savings and Unit Trust Certificates

(vi)

Long-term Debentures stock of local or foreign companies

7. Other Non- current assets

These include all residual non-current assets left from the above coverage, but remain in the balance sheet.
Possible items may be:
(i)

Deferred costs

(ii)

Long-term deposits

(iii)

Long- term loans and advances

(iv)

Security deposits

B. Current Assets:
1. Cash & bank balances
Cash & bank balances is an integral part of a company's overall operations. It consists of:
(i) Cash in hand
(ii) Cash in transit
(iii) Current deposits
(iv) Saving deposits
(v) Saving deposits and Call deposits
(vi) Deposits held abroad
2. Inventories
It comprises of stocks of raw material in hand, work in progress and finished goods at the closing date.
3. Trade debt
This refers to an entity from which amounts are due for goods sold or services rendered or in respect of
contractual obligations and also termed: debtor, trade debtor, and account receivable.

4. Short term investments

Unlike long term investments, short term investments have to be matured within the same accounting cycle. The basic
motive of such an investment is to earn profits or capital gains for short term period. They may include:
(i)

Short-term stocks

(ii)

Short -term bonds

(iii)

Short -term investment in real estate

(iv)

Short-term Government and corporate securities

(v)

Short-term Savings and Unit Trust Certificates

(vi)

Short-term Debentures stock of local or foreign companies

5. Other current assets

These are all remaining items of current assets left from the above coverage, but remained in the balance
sheet. These include:
(i)

Book debts including bad and doubtful debts

(ii)

Stores, spare parts and loose tools

(iii)

Loans and advances

(iv)

Work in progress(current)

(v)

Advances and prepayments etc.

(vi)

Balances due to tax department

(vii)

Tax refundable

(viii)

other receivables

C. Current Liabilities:
All liabilities, which are required to be discharged within one year, are termed as current liabilities.
Alternatively, these cover those obligations whose liquidation is expected to be made out of current assets.
They are usually incurred in the normal course of business and are required to be paid at fairly definite dates.

1. Short term secured loans

These are loans which are to be matured within the year and have been obtained against secured collaterals.
These consist of:
(i)

Current maturities of secured long term loan.

(ii)

Current maturities of redeemable capital finance

(iii)

Secured short term running finance.

(iv)

Current maturities of lease finance

(v)

Short term lease finance.

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2. Other current liabilities

These are all remaining items of current liabilities left from the above coverage, but remained in the
balance sheet. These include:

(a) Sundry Creditors

(i) For expenses
(ii) For other finance
(iii) Bills payable
(v) Advances from customers against orders

(b) Payment become due but outstanding

(i) Income tax payable
(ii) Proposed, unpaid and unclaimed dividends
(iii) Estimated liabilities in respect of outstanding claims whether due or intimated
(iv) Gratuities becoming payable
(v) Provident Fund becoming payable
(vi) Current installment and interest payable on fixed liabilities
(vii) Provision for taxation estimated on current profits
(viii) Workers profit participation fund

(c) Loans, Deposits and Advances

(i) Loans secured by stock or other current assets
(ii) Bank overdrafts and other unsecured loans
(iii) Short term loans acquired against the security of fixed assets
(iv) Unsecured loan from directors, parent company, and subordinate loan
(v)

Due to managing agents

(vi) Advances by directors

(vii) Guarantee and security deposits of customers and staff

D. Non-Current Liabilities:
1. Long-term secured loan
These are liabilities which are required to be discharged after a period of more than a year from the date of
balance sheet and are obtained on the basis of secured collaterals. These include:
(i)

Loans from financial institutions.

(ii) Loans from non bank financial institutions.

(iii) Loans from specialized financial institutions
(iv) Redeemable capital finance
(v) Foreign loans

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(vi) Vendors account

2.

Long-term unsecured loan

These are liabilities which are required to be discharged after a period of more than a year from the date of
balance sheet and are obtained without any secured collaterals. These include:
(i) Loan to various organizations by governments.
(ii) Loan to a company by directors
(iii) Long term loan by creditors
(iv) Long term loan by suppliers

3. Debentures/TFCs
These are bonds/certificates issued by a company to raise funds for long-term period (generally more than
one year) for a specific purpose (usually for capital expenditures), sometimes convertible into stock. At
present, debentures have been replaced by TFCs (Term Finance Certificates). Sukuk bonds.

4. Employees benefit obligations

These include benefits provided either to employees or their dependants, and may be settled by payments
(or the provision of goods or services) made either directly to the employees, their spouses, children, other
dependants. Its constituents are:
(i) Employees gratuity fund
(ii) Pension fund.
(iii) Staff compensated absences
(iv) Staff retirement benefits

5. Other non-current liabilities

These are residuals of non-current liabilities left from the above coverage, but remained in the balance
sheet of the company. These include:
(i) Deferred liabilities
(ii) Deferred liabilities/ taxation
(iii) Long term deposits/key deposits
(iv) Subordinated loans
(v) Retention money payable

E. Shareholders equity:
This item purports to represent the total stake of the shareholders in the business and is obtained by
adding the ordinary share capital to the reserves and also surplus on revaluation of fixed assets.

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1. Issued, subscribed & paid up capital

This represents the total subscribed and paid-up capital against issue of ordinary shares. These are amounts
of capital actually paid by the shareholders to the institution for acquiring its shares. It includes shares paid
in cash (subscribed/right issued), issued as bonus shares and shares issued for considerations other than cash
(e.g. for settlement of receivables/debts or debts redeemable into stock etc.).

(i) Ordinary Shares

Ordinary shares represent equity ownership in a company and entitle the owner to a vote in matters put
before

shareholders

in proportion to

their

percentage

ownership

in the

company.

Ordinary shareholders are entitled to receive dividends if any are available after dividends on preferred
shares are paid. They are also entitled to their share of the residual economic value of the company
should the business unwind; however, they are last in line after bondholders and preferred shareholders
for receiving business proceeds. As such, ordinary shareholders are considered unsecured creditors.

(ii) Preference Shares

Preferred Shares generally have dividends that must be paid out before dividends to common
stockholders

and

the

shares usually

do

not have

voting

rights.

The precise details as to the structure of preferred stock are specific to each corporation. However, the
best way to think of preferred stock is as a financial instrument that has characteristics of both debt
(fixed dividends) and equity (potential appreciation).
The difference between ordinary shares and preference shares is as follows:
(a) Ordinary shareholder receive dividend, which varies according to the prosperity of
the company but preference shareholder will receive a fixed amount dividend every year.
(b) Ordinary shareholder has a right of voting in the companys annual general meeting
while the preference shareholder has no voting right.
(c) Ordinary shareholders have a residual claim on the net assets of the company in case of
liquidation, while the claim of the preference shareholders is paid earlier.

2. Reserves
It is calculated by aggregating all kinds of reserves except depreciation reserve and reserve for bad and
doubtful debts plus the balance of profit and loss account.

ix

(i) Capital Reserves

These funds are allocated only to be spent on the capital expenditure projects/ future expansionary
projects for which they were initially intended, excluding any unforeseen circumstances. These
include:
(a) Share premium reserves
(b) Merger reserves
(c) Development reserves
(d) Reserve for issue of bonus shares
(e) Reserve for re-issue of forfeited shares
(f) Capital gain on sale of fixed assets
(g) Dividend equalization reserves
(h) Non-controlling interest (minority interest)
(i) Fair value Reserve
(j) Subordinated Loans
(k) Interest rate swap revaluation reserve
(l) Hedge reserve
(m) Advance against subscription for right shares
(n) Undistributed percentage return reserve
(o) Exploration and evaluation reserve
(p) Investment revaluation reserve
(q) Share deposit money
(r) Exchange difference on translation of foreign subsidiaries
(s) Statutory Reserve

(ii) Revenue Reserves

This is that part of the profit that has been not given to the shareholders but retained in the business for
future growth. These include:
(a) General reserves
(b) Un-appropriated reserves
(c) Retained reserves
(d) Reserves on profit & loss account
(e) Deferred income
(f) Retained Earnings

3. Surplus on revaluation of fixed assets

Revaluation of fixed assets is a technique that may be required to accurately describe the true value of
the capital goods that a business owns. The revaluation surplus has been included in equity because
capital goods like property, plant and equipments participate directly in the revenue generation and
transferred directly to retained earnings.

F. Operation:
1. Sales
This item represents the sale proceeds of the company netting off all components of expenses associated
with sales. Sales revenue is classified as local sales and export sales.

2. Cost of sales
Cost of sales includes the direct costs attributable to the production of the goods sold by a company. This
amount includes the materials cost used in creating the goods along with the direct labor costs used to
produce the good.

(i) Cost of material

This includes cost of all raw and other processing materials incurred in the production of finished goods,
which are available for sale of the company.

(ii) Other Input cost

These are all remaining cost of sales excluding the cost of materials.

3. Gross Profit
Gross profit is arrived at by subtracting cost of sales from sales revenue.

4. General, administrative and other expenses

These expenses consist of the combined payroll costs (salaries, commissions, and travel expenses of
executives, sales people and employees), and advertising expenses that a company incurs. This is usually
understood as a major portion of non-production related costs.

(i) Selling & distribution expenses

These are non-production cost, but directly related with the revenue generation of saleable goods, i.e. cost
incurred to mobilize goods from factory outlet to the market palace. These include:

xi

(a) Distribution expenses

(b) Brokerage expenses
(c) Salary, wages and commission expenses
(d) Discount expenses
(e) Selling expenses
(f) Forwarding expenses

(ii) Administrative and other expenses

These expenses are also non-production costs and fixed in nature. The company is obliged to pay these
expenses which are permanent in nature until the structure of the company is not affected. These include:
(a) Postage, telegram and telephone expenses
(b) Conveyance and travelling expenses
(c) Salary, wages and other benefits
(d) Depreciation expenses

5. Salary, wages and employees benefits

These are salary; wages and employees benefit expenses that a company has borne in all stages to run the
business activities. These covers the expenses to all employees (temporary, permanent)

6. Financial expenses
These are expenses incurred due to borrowing of financial assets (short / long term loans) and acquisition of
financial services by a company during an accounting period. It consists of interest paid expenses on
loan/debts plus:
(a) Interest and mark-up on supplier credit
(b) Interest on workers profit participation fund.
(c) Bank charges and commission
(d) Excise duty on long and short-term finance
(e) Discounting charges on receivables
(f) Exchange commission expenses

Of which: (i) Interest expenses

These are interest expenses incurred on borrowing of long and short terms loans. These include the
following items;
(i) Mark-up and interest on long term loan
(ii) Mark-up and interest on debentures and redeemable capital
(iii) Mark-up and interest on short term loan
(iv) Interest on private loan

xii

7. Net profit before taxes

It is the profit earned by the company during the year before tax.

8. Tax provision
It is provision of taxation made on current years profit.

9. Total amount of dividend

It is the total dividend including interim dividend distributed or proposed to be distributed out of the current
years profit

10. Total value of bonus shares issued

This is the total amount of bonus shares issued to the shareholders as appropriation of net profit after tax of the
company during the year.

11. Cash flows from operations

This amount is derived as net cash flow from operating activities of a company from its Cash flow statement.
Operating activities include the production, sales and delivery of the company's product as well as
collecting payment from its customers. This could include purchasing raw materials, building inventory,
advertising, and shipping the product,
Under IAS 7, operating cash flows include:

Receipts from the sale of goods or services

Receipts for the sale of loans, debt or equity instruments in a trading portfolio

Interest received on loans

Dividends received on equity securities

Payments to suppliers for goods and services

Payments to employees or on behalf of employees

Items which are added back to [or subtracted from, as appropriate] the net income figure (which is found on
the Income Statement) to arrive at cash flows from operations generally include:

Depreciation (loss of tangible asset value over time)

Deferred tax

Amortization (loss of intangible asset value over time)

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Any gains or losses associated with the sale of a non-current asset, because associated cash flows do
not belong to the operating section

G. Miscellaneous:
1. Total capital employed
The total of shareholders equity and total non- current liabilities engaged in the capital formation
constitute this item.
Total capital employed = Shareholder's equity+ Long term secured loan+ Long term unsecured loan+
Debentures/ TFC's+ Employees benefit obligations.

2. Total fixed liabilities

It is the sum total of the items debentures (TFCs) and other fixed liabilities.
Total fixed liabilities = Long term secured loan+ Debentures/TFC's

3. Retention in business
This is the amount that a company retains in business after netting off all possible expenses and is
obtained by deducting the provision for the tax and the total dividend distributed or proposed to be
distributed from the net profit for the year.
Retention in business = Net profit before taxes- Tax provision- Total amount of dividend

4. Contractual liabilities
This item pertains to all secured debentures, long-term loans, finance lease, short term secured loans and
bank overdraft.
Contractual liabilities = Long term secured loan+ Preference shares+ TFC's + Short term secured
loans.

III. Performance Indicators:

1. Acid test or quick ratio
The acid test or quick ratio is used to determine how quickly a company would be able to pay off its current
liabilities if it needs to convert its quick assets into cash.
Acid test or quick ratio = (Cash & bank balances + Trade debtors + Short term investments)/ Current
Liabilities.

xiv

The ideal quick ratio is 1:1, which measures the firms capacity to payoff claims of current creditors
immediately.

2. Financial expenses to sales

It shows the ratio of financial expenses to sales. Lowering the ratio indicates the financial discipline of the
company and the increasing ratio indicates that the company is facing financial expenses burden out of its
sales revenue
Financial expense to sales = Financial expenses/ Sales

3. Trade debt to sales

It is the ratio of outstanding credit (all sales receivables) to the total sale proceeds of the company. Higher the
percentage, the company is increasing its debtors and credit risk and reducing its liquidity position.
Trade debt to sales= Trade debt/ Sales

4. Assets turnover ratio

It is the ratio of total sale proceeds to the total assets of the company. Higher the ratio, the company is
sufficiently using its assets in generating revenues and lowers the ratio; the company is insufficient in
generating revenues.
Assets turnover ratio= Sales/ (Non-Current Assets + Current Assets)

5. Current ratio
It is the ratio of total current assets to the total current liabilities. Higher current ratio shows that the company is
in a well-off situation and lower current ratio shows the worsening situation.
Current ratio= Current Assets/ Current Liabilities
A rough guide for most companies exhibits 1.5:1 relationship between current assets and current liabilities as
indication of ability to meet current obligation without recourse of special borrowings.

6. Cost of goods sold to sales

This ratio is derived by dividing cost of sales of goods to the total amount of sale proceeds. Higher the ratio,
lower the gross profit margins and lower the ratio, higher the gross profit margins of the company.
Cost of goods sold to sales= Cost of goods sold/ sales

7. Debt equity ratio

This is a measure of companys financial leverage and calculated by dividing its total liabilities by
stockholders' equity. It indicates what proportion of equity and debt the company is using to finance its

xv

assets. The higher ratio generally means that a company has been aggressive in financing its growth with
debt. This can result in volatile earnings as a result of the additional interest expense.
Debt equity ratio = (Current Liabilities + Non-Current Liabilities)/ Shareholders equity
It provides a margin safety to creditors. The smaller the ratio, the more secured are the creditors. An appropriate
debt to equity ratio is 0.33. A higher ratio than this is an indication of financial risk policy.

8. Return on assets (ROA)

This is an indicator that reflects how profitable a company is relative to its total assets. ROA gives an
idea as to how efficient management is at using its assets to generate earnings. This is calculated by
dividing a company's annual earnings by its total assets. The higher the ROA, the better, because the
company earns more money on less investment.
ROA = Net profit before taxes/ Average of (Non-Current Assets + Current Assets)

9.

Return on equity (ROE)

It measures a firm's efficiency at generating profits from every unit of shareholders' equity. It shows how
well a company uses its resources to generate earnings growth. The ROE is useful for comparing the
profitability of a company to that of other firms in the same industry.
ROE = Net profit before taxes/ Average of Shareholders equity

10. Return on capital employed (ROCE)

ROCE compares earnings with capital invested in the company. ROCE should always be higher than the
rate at which the company borrows; otherwise any increase in borrowing will reduce shareholders'
earnings.
ROCE = Net profit before taxes/ Average of Total capital employed

11. Dividend cover ratio

This measures the ability of a company to pay dividends to ordinary shareholders from after tax income and
measured as:
Dividend cover ratio= (Net profit before taxes - Tax provision)/ Total amount of dividend
If a company is operating in a sector that is reasonably unaffected by economic downturns, such as food
manufacturing and retailing, the lower dividend cover is more acceptable, because the risk is lower.

12. Inventory Turnover Ratio

A ratio showing how many times a company's inventory is sold and replaced over a period. The inventory
turnover ratio is calculated as
Inventory Turnover Ratio = Sales / Inventory

xvi

This ratio should be compared against industry averages. A low turnover implies poor sales and, therefore,
excess inventory. A high ratio on the other hand implies strong sales.
High inventory levels are unhealthy because they represent an investment with a rate of return of zero. It
also opens the company up to trouble should prices begin to fall.

13. Interest cover ratio

This ratio measures the efficiency of a company for its ability to pay its interest-payment on its borrowing
from operating profit and measured as
Interest cover ratio = Net profit before interest and tax payment / Interest expenses
= (Net profit before taxes+ Interest expenses) / Interest expenses
The higher the figure, the safer is the company. The company with interest cover ratio 2 will suffer a 50%
drop in the profit and a company with a ratio less than 1 would have to dip into cash reserve.

14. Net profit margin

This ratio is achieved as a ratio of profit earned by a company from its sale proceeds.
Net profit margin= Net profit before taxes/ sales

15. Operating cash flow to debt ratio

This ratio is obtained by dividing the net cash flow balance from operating activities from total liabilities
and mathematically it may be derived as:
Operating cash flow to debt ratio =Cash flows from operations/ (Current Liabilities+ Non
-Current Liabilities)
This ratio measures the ability of the company's operating cash flow to meet its obligations. The operating
cash flow is simply the amount of cash generated by the company from its main operations, which are used
to keep the business funded. The higher the ratio, the safer the company. A minimum value of 0.2 is often
used as guided level.

16. Earnings per share after tax (Rs./share)

It is arrived at by dividing the net profit (after tax) by the number of ordinary shares.
Earnings per share after tax (Rs.) = (Net profit before taxes - Tax provision)/ Number of ordinary
shares

17. Break- up value shares (Rs./share)

It is obtained by dividing the amount of shareholders equity by the number of ordinary shares.
Break- up value shares (Rs. /share) = Shareholders equity/ Number of ordinary shares

xvii

Executive Summary
The non-financial sector companies listed at Karachi Stock Exchange (KSE) showed relatively better performance
during the year 2010. Positive outlook has been observed on account of sales and profitability in all sectors except
Cement sector which suffered losses during the financial year 2010 despite the fact that sales improved. Although
Electrical Machinery & Apparatus, Paper and Board, and Other Manufacturing sectors had increased sales the
overall profitability declined in 2010 over 2009. A brief review on the important performance indicators during 2009
and 2010 is given below:-

Capital formation
Total paid-up capital increased by Rs.49.42 billion or 10.32 percent from Rs.478.84 billion in 2009 to Rs.528.26
Billion in 2010, as against an increase of Rs.49.83 billion or 11.62 percent in 2009 over 2008. Total shareholders
equity increased by 16.99 percent from Rs.1,195 billion in 2009 to Rs.1,398 billion in 2010. Total fixed liabilities
decreased from Rs.483 billion in 2009 to Rs. 423 billion in 2010 showing a decrease of 12.45 percent. A comparison
of growth, in the composition of capital structure in the current year with that of the previous year is reflected as
follows:

2010 over 2009

2009 over 2008

Shareholders Equity

16.99%

15.16%

Total Fixed Liabilities

-12.45%

869.99%

7.44%

49.40%

Total Capital Employed

Positive growth has been observed in shareholders equity, however, total fixed liabilities showed negative growth
as compared to previous year which reflects decrease in demand for finances from banks and other financial
institutions. Total capital employed also depicts growth this year except for Chemicals and Information&
Communication sectors. The increase in ordinary share capital, reserves and surplus during the year have been 10.44
percent and 21.41 percent respectively.

xviii

1,400

Figure 1:Total Capital Employed

1,200
1,000

2009

800

2010

Billion Rs

600
400
200
0
SE

LSL

LUSL

TFCs

EBO

SE= shareholders Equity, LSL= long term secured loans,

LUSL= long term unsecured loans, TFCs= term finance certificates &
EBO=employees benefits obligations.

Components of Balance Sheet:

Total assets stood at Rs.4,014 billion in
3,582 billion in 2009. Total liabilities stood
at Rs.2,616 billion in 2010 showing an
increase of 10% over Rs.2,386 billion in
2009. Total shareholders equity stood at
Rs.1, 398 billion in 2010 reflecting an

Figure 2:Components of Balance Sheet

18.0%

5000

17.0% 16.0%

4000

14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%

12.1%

3000

Billions Rs

2010 with an increase of 12% over Rs.

9.6%

2000
1000

increase of 17% over Rs.1, 195 billion in

2009.

2009

Total Assets

2010

Total Liabilities

Growth

Total Shareholder
Equity

Non-Current Assets:
Figure 3:Non Current Assets
fixed

deducting

assets

(book

accumulated

value)

after

depreciation

amounted to Rs. 1,597 billion in 2010,

depicting an increase of 9.5% over 2009.
Intangible assets and long term investments
increased

by

13.1%

and

24.4%

respectively. Capital work in progress,

however, shows a decline of 8.2% over the

2009

1800
1600
1400
1200
1000
800
600
400
200
0

2010

30.0%

24.4% 25.0%

Billion Rs

The

9.5%

20.0%
15.0%
10.0%
5.0%
0.0%
-5.0%
-10.0%

13.1%

-8.2%
Capital Work in Operation fixed
progress
Assets after
Depre.

year.

xix

Intangible
Assets

Long Term
Investment

Current Assets:
Current assets stood at Rs.1, 381
Figure 4:Current Assets

billion in 2010 with an increase of 21%

over Rs.1,145 billion in 2009. Cash &

800

bank

700

increased

by

7%,

inventories by 9%, trade debt by 32%

and short term investment by 18% over
the year.The liquid assets of non-

2010

32.2%

Growth

25.0%

500

18.3%

400
300

financial sector increased by 11 percent

200

from Rs.245 billion in 2009 to Rs. 271

100

15.0%

5.0%
0.0%

Cash & bank

balance

42 percent in the previous year. Cash

20.0%

10.0%

9.2%

6.9%

billion in 2010 as against a decrease of

35.0%
30.0%

600
Billion Rs

balances

2009

Inventories

Trade Debt

Short Trem
Investment

and bank balances increased by Rs. 12

billion or 7 percent in 2010 as against a
previous

year.

The

short-term

investment increased by 22 percent or

Rs.54 billion in 2010 as compared to a

500
400
300
200
100
0

Billion Rupees

decrease of 4 percent witnessed during

Figure 5:Aggregate Composition of Assets

2005

2006

2007

2008

2009

2010

Working capital at Rs. 48.07 billion

Cash and bank

balances

188

184

170

173

166

178

showed a decrease of 14 percent in

Investments

112

193

239

250

243

297

Liquid Assets

300

377

409

423

245

271

Working Capital

161

144

155

72

56

48

decrease of 3 percent in

2009.

2010 from Rs.56 billion in 2009.

Liabilities
Figure 6:Liabilites

Total liabilities stood at Rs.2,616

10% over Rs.2,386 billion in 2009.
Current liabilities shows an increase of
19% in 2010 over 2009, but noncurrent liabilities declined by 4% over
the last year .

Billon Rs

billion in 2010 showing an increase of

1800
1600
1400
1200
1000
800
600
400
200
0

19.3%

-4.1%
Current Liabilities

Non-Current
Laibilities

2009

1399.30

986.97

2010

1669.39

946.38

19.3%

-4.1%

Growth

xx

25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
-5.0%
-10.0%

Shareholders Equity:
Total paid-up capital increased by
Figure 7:Shareholders Equity

Rs.49.73 billion or 10.38 percent

800

from Rs.478.84 billion in 2009 to

increased by Rs. 100.46 billion or
17.95 percent from Rs. 559.56

600
Billion Rs

Rs.528.26 Billion in 2010. Reserves

billion in 2009 to Rs. 660.01 billion

400

2009

200
0

2010
Paid Up Capital

in 2010. Surplus on revaluation of

Reserves

fixed assets also increased by Rs.

Surplus on
Revaluation of Fix
Assets

52.81 billion or 33.77 percent from

Rs.156.36 billion in 2009 to Rs.
209.17 billion in 2010.

Composition of operations
Positive deportment has been seen on

Figure 8:Growth & Composition of operations

account of sales, gross profit, net profit

before

tax

and

cash

flow

from

operations. Increases of 14.4%, 13.9%,

in sales, gross profit, net profit before

2500
1500
1000

year. The gross sales of all non-

500

companies

were

46.3%

2000

respectively for 2010 over the previous

listed

Growth

3500
3000

financial

2010

4000

45.3% and 7.6% have been witnessed

tax and cash flow from operations

2009

4500

14.4%

13.9%
7.6%

0
Sales

Rs.4,127 billion in 2010 as against

Gross Profit

50.0%
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%

Net Profit Before Cash Flows from

Tax
Operation

Rs.3,608 billion in 2009, showing an

increase of 14.4 percent. The local sales increased by 13.81 percent and the exports increased by Rs. 71 billion or
19.50 percent in the year 2010. The gross profit increased by Rs. 74 billion from Rs. 533 billion in 2009 to Rs. 607

xxi

billion in 2010. Net profit

Figure 9: Net Profit Margin and Retension

before taxes, which stood at Rs.

212 billion in 2009 increased

400

by Rs. 98 billion or 46 percent

300

to touch Rs.309 billion in 2010.

Out of profit, amount retained

Billion Rupees

in the business has been Rs.89

200

billion in 2010 as against Rs.

100

16 billion retained in 2009

0
2005

reflecting an increase of Rs. 73

billion or 467 percent.

Net profit (before tax)

2006

2007

2008

2009

2010

Retension in business

Key Financial Ratios

Key performance ratios e.g. current ratio, debt equity ratio, net profit margin and earnings per share after tax
performed well in last two years with slight decline in first two ratios in the previous year. Decline in the current
ratios from the previous year, however, indicates that the ability of the non financial sector to pay short term debts
slightly reduced.

Figure10:Key Performance Ratio

A general guide to recognize

performance of

companies

7.5

being good is if current ratio

appears to be around 1.03:1
which is a bit lower than 1.5,

percentages

is 1.5:1 but the current ratio

5.86
4.11

4
2

companies

borrowings to

special

meet their

2.85

2010

2.00 1.87

reflecting the fact that the

need

2009

1.04 1.03

Currtent Ratio

Debt Equity
Ratio

current obligations. Debt to

Net Profit
Margin

Earing Per Share

after Tax

equity ratio is 1.87 in 2010

and in 2009 it was 2.00. This also shows better position this year than that of the previous year as the smaller the
ratio, the more secured are the creditors. Net profit margin is 7.5 in 2010 whereas it was 5.86 in 2009 indicating that
profit before taxes increased in 2010 as compared to 2009. Earnings per share after tax increased from 2.85 in 2009
to 4.11 in 2010. This is also a healthy sign both for shareholders and entrepreneurs.

xxii

Profitability ratios i.e. return on assets (ROA), return on equity (ROE) and return on capital employed (ROCE)
exhibit overall efficiency of the nonfinancial companies in 2010 over 2009. Return on assets is 8.15 in 2010 whereas
it was 6.54 in 2009.

Figure 11:Profitability/Efficiency Ratios

This highlights the fact

25

to assets has increased

20

for

the

companies

which is a positive sign,

the higher the ROA, the
better,

Percentages

that profitability relative

23.87
18.95

10

because

companies earn more

money

on

less

investment. Return on

2009

15
6.54

11.62

8.15

13.68

2010

ROA

ROE

equity is 23.87 in 2010

ROCE

and it was 18.95 in 2009. This underscores that the efficiency of the companies to earn profits have increased in
2010, and companies are utilizing their recourses well. Return on capital employed is 13.68 in 2010 as against 11.62
in 2009. ROCE compares earning with capital invested in the company and therefore, indicates that management has
utilized investment in a better way as compared to the previous year.

xxiii

Key performance Indicators by Economic Groups for the

Year 2010

Paperboard

Other Manufacturing

Motor Vehicle

Other Services

Inf. Comm. & Transport

Electrical Machinery

Other Food

21,223.5

43,953.8

9,355.0

4,992.0

994.0

163,875.0

86,636.1

58,277.3

3,079.6

2,519.2

104,200.2

4,657.0

2,917.7

7,836.1

10,202.1

3,844.7

Total Assets

4,014,264.6

587,174.2

520,735.9

96,401.6

44,820.8

37,159.7

999,806.8

453,554.2

307,919.2

65,012.0

56,166.1

494,341.1

44,908.1

17,827.7

117,314.9

109,452.8

61,669.5

Total Liabilities

2,615,774.8

397,072.7

335,993.6

67,554.1

22,372.9

28,028.0

690,760.2

257,722.0

181,187.0

42,709.5

38,097.8

385,794.6

9,571.7

11,275.7

62,609.5

59,891.1

25,134.4

Shareholder's Equity

1,397,744.1

190,101.6

184,742.3

28,847.6

22,447.9

9,131.8

309,046.6

195,832.2

126,732.2

22,302.5

18,068.3

108,546.5

35,336.4

6,551.9

54,705.4

48,816.0

36,535.1

Total Capital Employed

2,344,126.1

218,788.1

302,005.0

57,502.4

30,857.7

24,117.8

594,161.4

311,117.5

214,821.5

33,555.2

27,089.9

299,819.4

40,274.6

12,203.7

60,442.1

64,302.9

53,066.7

Sales

4,127,410.9

1,417,587.1

432,575.6

130,616.8

47,712.0

26,090.4

747,469.7

349,897.5

114,556.6

142,565.1

48,791.1

258,538.8

9,738.5

15,782.9

225,772.2

124,778.8

34,937.7

Gross Profit

607,156.3

96,489.6

71,287.6

14,467.4

5,097.6

4,231.4

134,528.2

93,511.7

18,066.3

38,860.0

8,548.7

66,890.5

2,427.6

3,236.8

19,173.6

26,755.9

3,583.3

Net Profit Before Tax

309,460.9

70,883.4

23,194.1

4,092.1

4,314.7

1,179.7

101,909.7

55,741.6

-6,572.2

15,384.8

2,024.2

10,617.8

1,997.7

892.9

13,595.4

9,315.5

889.4

123,594.4

20,515.7

3,708.7

1,043.5

773.6

149.4

36,638.4

25,784.1

8,072.2

5,085.7

3,828.5

9,561.3

60.6

298.9

4,691.1

2,857.9

524.7

19,265.7

2,106.9

925.0

241.6

19.2

0.0

1,677.9

6,433.9

0.0

1,425.0

1,180.4

254.3

0.0

97.0

378.8

4,513.2

12.5

Dividend cover ratio (%)

1.7

2.5

5.2

2.3

4.6

6.2

2.0

1.4

-1.0

2.1

0.3

0.5

27.8

1.6

1.7

2.2

1.0

Net profit margin (%)

7.5

5.0

5.4

3.1

9.0

4.5

13.6

15.9

-5.7

10.8

4.2

4.1

20.5

5.7

6.0

7.5

2.6

Return on equity (%)

23.9

40.7

13.7

15.9

22.8

15.4

37.4

30.8

-5.3

75.8

11.5

8.6

7.0

14.6

25.8

21.7

2.7

4.1

23.9

4.5

2.4

7.2

9.3

4.7

4.3

-1.4

35.9

4.3

0.4

3.6

1.5

9.5

6.1

2.2

27.1

89.6

43.5

28.4

45.0

91.9

19.6

23.7

22.1

75.6

71.7

10.4

75.4

20.0

66.8

48.2

161.0

Sugar

Coke

Mineral

Cement

528,563.2

Indicators

Paid -up-Capital

Spinning

Chemical

Fuel & Energy

Overall

Other Textile

Key Performance

Made-up Textile

Economic Groups

Total amount of
dividend
Total value of bonus
shares issued

Earnings per share after

tax (Rs./Share)(Book
Value)
Breakup value of
ordinary shares (in Rs)

xxiv

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

812,914,088

981,818,527

1,210,189,064

1,344,810,320
796,631,198
61,988,860
16,282,890

1,557,887,048
960,955,569
68,386,028
20,862,958

1,861,712,154
1,159,468,484
86,175,939
50,720,580

750,637,043
139,699,452
206,435,300
136,048,215
108,671,118
159,782,958
643,901,143
215,088,391
428,812,752
226,167,387

925,133,997
165,437,299
239,422,941
168,767,874
158,267,839
193,238,044
850,274,877
271,922,139
578,352,738
283,118,554

1,194,905,043
169,326,834
271,373,492
248,356,572
239,471,220
266,376,925
1,040,737,627
293,788,918
746,948,709
352,081,328

28,054,249

31,265,288

45,095,447

198,113,138
693,482,601
306,228,056
302,599,899
3,628,157
387,254,545

251,853,266
773,559,093
325,273,284
321,754,150
3,519,134
448,285,809

306,985,881
1,012,275,152
403,892,802
393,724,354
10,168,448
608,382,350

1,387,759,210
0
2,089,056,248
1,328,800,169
96,600,045
58,955,617
3,424
0
1,491,677,076
172,633,218
360,995,167
365,320,667
250,034,020
342,694,004
1,420,829,072
418,988,301
1,001,840,771
422,795,522
86,708
0
49,685,847
0
373,022,967
1,035,811,692
428,222,100
418,770,236
9,451,864
607,478,608
0
(61,986)
110,984

2,022,063,825
273,406,801
2,308,205,274
1,420,651,311
109,092,744
86,886,412
162,766,419
78,352,882
1,431,584,272
164,554,747
341,025,290
545,761,555
79,115,643
301,127,037
1,374,741,478
425,973,528
948,767,950
923,795,428
394,204,686
111,947,727
40,658,410
51,352,255
325,632,349
1,155,111,194
453,428,148
442,921,930
10,506,219
545,324,606
114,873,633
421,343,928
156,358,440

2,164,268,265
231,732,414
2,493,019,005
1,544,726,678
115,181,559
98,656,629
202,558,386
86,594,157
1,691,494,167
174,432,790
375,065,475
722,804,733
93,612,272
325,578,897
1,620,026,764
445,995,769
1,174,030,995
888,850,568
340,928,725
102,928,154
36,577,928
61,349,622
347,066,139
1,346,885,101
492,894,072
482,675,405
10,218,667
649,086,930
130,364,721
506,041,262
204,904,099

1,908,533,305
1,775,627,080
132,906,225
1,614,705,021

2,410,772,894
2,246,013,617
164,759,277
2,092,430,505

2,834,412,444
2,629,187,851
205,224,593
2,428,025,103

293,828,284
137,511,600

318,342,389
156,707,981

406,387,341
185,296,164

3,557,590,472
3,190,701,027
366,889,445
3,037,097,721
1,560,938,910
1,474,462,527
520,492,751
249,926,058
96,533,319
153,392,738
159,567,107
145,958,991
107,926,423
207,655,646
77,191,718
118,176,363
7,665,156
311,116,204

4,078,962,292
3,640,564,698
438,397,593
3,480,666,339
1,849,986,585
1,628,955,488
598,295,952
250,863,605
106,022,885
144,840,720
192,230,093
133,447,002
96,651,496
310,522,634
96,394,789
123,320,933
19,214,522
325,099,960

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

162,364,047
44,455,176
40,450,484
3,398,810

170,397,930
47,605,807
59,973,882
5,692,432

229,032,334
60,613,089
97,472,054
2,995,809

3,353,339,033
3,101,697,971
251,641,062
2,857,218,899
660,538
54,383
496,120,134
270,042,827
6,924
270,035,903
30,381
95,877,079
1,894
202,696,410
91,983,191
106,076,371
4,764,973
14,745

919,649,988
28,054,249
77,458,387
243,142,640

1,056,677,647
31,265,288
62,818,241
303,187,427

1,364,356,480
45,095,447
70,947,191
338,884,365

1,458,607,214
49,772,555
4,636,848
468,760,856

2,078,906,622
434,863,096
12,287,566
860,836,624

2,235,735,669
377,506,654
90,806,912
823,502,423

0.60
1.53
7.13
1.22
1.17
84.60
1.25
11.27
26.61
19.49
2.91
9.25

0.58
2.04
7.00
1.26
1.09
86.80
1.47
9.82
23.23
17.24
2.05
10.07

0.63
2.37
8.76
1.18
1.15
85.66
1.38
10.62
25.65
18.92
1.73
10.44

0.55
2.86
10.89
1.16
1.05
85.21
1.78
7.67
19.79
14.36
1.04
9.29
6.04
0.00
2.66
24.85

0.57
4.10
15.34
1.03
1.04
85.37
1.99
6.56
18.96
11.74
1.10
10.43
2.92
5.84
0.14
2.94
26.00

0.61
3.27
17.72
1.06
1.04
85.33
1.86
8.50
24.82
14.39
1.74
10.88
4.21
7.61
0.13
4.42
27.82

137,511,600

156,707,981

185,296,164

29,154,069

49,192,377

67,065,211

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

8.51
0.00
3.16
18.58

7.07
0.00
3.13
19.74

8.08
0.00
4.30
25.83

Growth with Composition of Assets & Liabilites

2500

25%

Billion Rs

2000

20%

19.3%

18.0%

17.0%

1500

15%
10%

8.0%

5%

1000

0%
500

-4.1%

-5%

-10%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

4500
4000
3500
3000
2500
2000
1500
1000
500
0

Billion Rs

40%
30%

20%

14.4%

13.9%

10%
0%

Gross Profit

23.87

25

2009

18.95

20

Net Profit Before Tax

Key Performance Indicators

Profitability/Efficiency Ratios

7.5

8
7

2010

2009

5.86

2010

15

11.62
6.54

13.68

8.15

Percentage

Percentage

Growth
50%

46.3%

Sales

10

2010

5
4

2.00

3
2

4.11

2.85
1.87

1.04 1.03

Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

545,735,937

664,763,020

942,329,121

818,283,008
534,088,973
34,481,082
11,646,964

959,600,900
648,283,898
40,324,958
16,479,122

1,473,193,725
920,823,313
66,381,729
21,505,808

518,071,260
90,337,419
179,182,552
69,727,936
81,626,384
97,196,969
444,666,036
195,816,108
248,849,928
174,736,960

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

923,248,645
140,585,060
235,366,256
160,085,822
200,009,592
187,201,915
783,896,879
249,183,547
534,713,332
262,447,889

13,633,979

18,018,318

31,384,023

161,102,981
444,404,201
172,880,440
169,253,283
3,627,157
271,523,761

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

231,063,866
819,232,998
318,182,576
308,014,128
10,168,448
501,050,422

1,076,264,789
0
1,641,235,470
1,054,613,962
74,578,793
21,647,403
3,424
0
1,137,493,840
145,111,691
297,817,744
232,019,190
209,965,374
252,579,841
1,059,182,440
361,617,683
697,564,757
305,483,257
86,708
0
37,255,704
0
268,140,845
849,092,932
341,223,957
331,772,093
9,451,864
507,757,991
0
(61,986)
110,984

1,659,384,966
298,757,916
1,833,532,485
1,123,680,059
83,996,696
37,322,482
153,677,245
45,947,264
1,047,943,539
147,975,639
301,316,853
319,100,926
60,291,431
219,258,690
1,041,816,392
382,031,395
659,784,997
719,702,509
381,099,282
105,376,870
31,145,696
26,761,503
175,319,156
945,063,893
388,373,605
377,874,887
10,498,719
444,618,577
108,605,156
326,906,375
112,071,711

1,822,648,838
269,488,352
2,019,960,209
1,269,723,059
91,880,582
39,280,592
193,544,655
50,612,180
1,191,688,123
156,010,394
315,763,561
401,412,932
63,734,584
254,766,652
1,213,614,360
420,877,136
792,737,224
682,634,391
344,756,594
98,223,634
27,256,464
29,479,799
182,917,900
1,117,342,500
433,945,248
419,734,081
14,211,167
500,873,948
123,260,345
364,932,656
182,523,304

1,164,526,162
1,044,136,323
120,389,839
981,950,450

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

1,951,927,602
1,746,703,009
205,224,593
1,678,644,137

182,575,712
71,443,041

216,939,912
84,473,592

273,283,465
133,259,219

2,414,935,246
2,047,473,708
367,461,538
2,042,738,544
1,392,215,392
648,826,867
372,196,702
195,291,034
84,183,885
111,107,149
122,521,260
127,617,133
97,102,652
106,900,921
44,827,169
70,594,212
6,048,064
235,536,337

2,788,746,908
2,349,647,181
439,099,726
2,375,515,570
1,672,724,101
701,067,202
413,231,338
202,859,212
93,493,071
109,366,141
144,016,326
107,574,067
87,536,495
162,903,937
56,779,191
86,733,178
15,596,082
208,607,455

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

108,378,089
21,663,245
30,577,226
3,340,490

124,875,660
25,621,773
47,163,883
3,988,040

140,859,929
32,990,556
49,838,083
2,252,818

2,261,072,364
2,009,432,865
251,639,499
1,942,315,389
660,538
54,383
318,756,975
186,234,341
6,924
186,227,417
30,381
82,255,840
1,894
101,910,213
52,453,252
46,261,653
3,941,970
14,745

619,141,161
13,633,979
56,137,618
209,450,087

738,291,648
18,018,318
52,090,004
245,814,749

1,081,680,887
31,384,023
58,031,290
280,567,570

1,154,576,189
37,342,412
3,195,308
398,960,095

1,664,766,401
412,244,979
(8,520,460)
794,276,374

1,799,976,890
372,013,058
19,391,569
792,890,194

0.54
2.03
5.99
1.09
1.17
84.32
1.39
11.40
27.92
19.91
2.84
6.50

0.55
2.62
5.98
1.15
1.13
85.37
1.40
10.63
25.47
18.40
2.10
7.39

0.64
2.84
8.20
1.05
1.18
86.00
1.28
8.94
20.79
15.48
2.16
8.29

0.55
3.64
10.26
1.02
1.07
85.90
1.61
5.00
12.22
9.11
1.07
7.59
4.51
0.00
1.50
25.74

0.51
5.28
13.21
0.89
1.01
84.59
1.86
4.34
11.92
7.58
0.88
8.01
2.10
4.43
0.13
1.64
24.92

0.51
3.86
14.39
0.93
0.98
85.18
1.70
5.69
15.80
9.40
1.22
8.83
2.86
5.84
0.11
2.52
26.52

71,443,041

84,473,592

133,259,219

23,672,997

38,887,937

55,508,390

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

9.31
0.00
5.08
26.03

8.42
0.00
5.29
28.57

7.22
0.00
3.52
26.76

Growth with Composition of Assets & Liabilites

2000

18.2%

16.5%
Billion Rs

1500

20%
15%

13.7%

10%

9.8%
1000

5%
0%

500

-5%

-5.2%

-10%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

Growth
60%

3000
52.4%

2500

40%

1500

30%

Billion Rs

2000

1000

15.5%

20%

11.0%

500

10%

0%
Sales

Gross Profit

15.8

16

2009

11.92

2010

10

9.4

4.34

5.69

7.58

2010

4.43

5
Percentage

12

2009

5.84

14

8
6
4
2
0

Net Profit Before Tax

Key Performance Indicators

Profitability/Efficiency Ratios

Percentage

50%

2.52

3
1.86

1.70

1.64

1.01 0.98

1
Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

267,178,151

318,000,485

268,736,704

312,337,976

526,527,312
262,542,225
27,507,778
4,635,926

599,578,843
313,616,649
28,118,527
4,383,836

389,855,969
239,521,932
19,843,616
29,214,772

449,119,023
275,029,762
22,066,001
37,308,214

232,565,783
49,362,033
27,252,748
66,320,279
27,044,734
62,585,989
199,235,107
19,272,283
179,962,824
51,430,427

304,852,661
75,779,056
39,943,905
80,474,180
34,694,677
73,960,843
303,022,293
45,172,966
257,849,327
80,868,981

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

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

14,420,270

13,246,970

13,711,424

12,430,143

37,010,157
249,078,400
133,347,616
133,346,616
1,000
115,730,784

67,622,011
238,961,872
135,737,694
135,736,694
1,000
103,224,178

75,922,015
194,664,723
86,495,427
86,495,427
0
108,169,296

104,882,122
188,392,697
87,783,344
87,783,344
0
100,609,353

744,007,143
731,490,757
12,516,386
632,754,571

931,241,917
910,097,056
21,144,861
829,345,954

885,995,096
885,995,096
0
752,482,906

1,095,189,095
1,095,187,532
1,563
917,453,147

111,252,572
66,068,559

101,895,963
72,312,233

133,512,190
52,118,926

177,735,948
83,927,702

(Thousand Rupees)
2009
2010
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
48,726,017
308,758,021
267,263,980
50,897,258
8,798,312
19,650,572
24,693,837
163,224,001
249,689,967
90,463,675
90,456,175
7,500
114,939,563
8,147,442
106,792,121
44,286,729

474,149,778
38,538,907
536,889,844
326,806,871
25,977,475
62,258,135
9,956,679
36,589,186
525,777,867
21,671,624
64,580,511
327,713,978
29,904,216
81,907,538
455,778,456
46,652,850
409,125,606
263,747,562
33,170,397
9,251,220
17,507,474
32,003,678
171,814,793
280,401,627
94,617,959
94,610,459
7,500
159,139,281
8,203,053
150,936,228
26,644,387
1,338,664,022
1,338,664,022
0
1,144,739,048
195,824,477
948,914,571
193,924,974
54,381,477
13,171,652
41,209,826
51,470,147
30,654,547
13,530,653
146,556,915
40,556,115
36,861,267
3,669,595
124,706,245

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

53,985,958
22,791,931
9,873,258
58,320

45,878,032
22,000,963
12,881,381
1,775,774

88,438,432
27,637,743
47,751,751
742,991

100,967,334
39,541,928
59,932,498
823,003

1,193,180,359
1,193,180,359
0
1,032,542,742
189,341,134
843,201,608
160,637,617
60,266,709
12,857,055
47,409,654
39,705,918
22,072,804
14,791,914
104,629,362
32,802,829
47,703,300
1,659,721
74,197,897

300,508,827
14,420,270
21,320,769
33,692,553

319,830,853
13,246,970
10,995,688
58,419,936

284,298,162
13,711,424
13,048,938
58,791,121

305,704,962
12,430,143
1,492,908
70,916,302

516,953,947
70,547,830
24,123,233
119,273,847

544,149,189
50,677,871
69,139,533
97,330,721

0.72
0.74
8.91
1.49
1.17
85.05
1.01
11.02
24.31
18.72
3.16
27.30

0.63
1.11
8.64
1.50
1.01
89.06
1.61
8.17
18.80
14.79
1.85
23.31

0.61
1.31
10.04
1.64
1.06
84.93
1.78
15.19
40.79
29.28
1.27
24.50

0.56
1.25
12.20
1.64
0.98
83.77
2.55
16.68
52.72
34.23
1.02
17.06

0.75
1.85
19.48
1.36
1.14
86.54
2.50
13.56
47.77
25.44
1.51
25.45
8.07
8.77
0.12
7.94
27.60

0.83
2.29
24.48
1.34
1.15
85.51
2.57
15.64
55.29
27.62
2.88
20.73
11.83
10.95
0.17
11.20
29.64

66,068,559

72,312,233

52,118,926

83,927,702

5,481,072

10,365,791

11,619,044

13,680,701

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

7.26
0.00
1.54
12.30

4.93
0.00
1.17
11.66

9.98
0.00
7.03
22.51

9.22
0.00
7.00
21.46

Growth with Composition of Assets & Liabilites

600

35%
30%
27.5%
25%
20%
15%
12.3%
10%
5%
0%
-1.3%
-5%
Current
Non-Current
Shareholders
Liabilities
Laibilities
Equity
2010
Growth

29.0%

500

Billion Rs

400
300
200

100

1.6%

0
Non-Current
Assets

Current Assets

2009

Growth & Composition of Operations

2009

2010

1600
40.1%

1400
1200

Billion Rs

1000
800

20.7%

600
400

200

12.2%

0
Sales

Gross Profit

Percentage

50

55.29

Net Profit Before Tax

Key Performance Indicators

Profitability/Efficiency Ratios
60

2009

12

2010

10

47.77

2009

2010

10.95
8.77

20

25.44 27.62
13.56 15.64

10
0

Percentage

40
30

Return on
Capital
Emloyed

11.2

7.94

8
6
2.50

4
2

Return on
Return on
Assets
Equity

Growth
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%

2.57

1.14 1.15

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

TEXTILE

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

177,929,733

212,250,458

228,100,596

220,912,726

270,739,493
177,630,160
10,334,718
299,573

317,249,011
208,146,347
14,349,481
4,104,111

337,568,522
223,988,054
16,140,749
4,112,542

341,072,977
220,810,198
17,833,078
102,528

168,519,766
6,688,120
85,275,017
28,726,892
23,347,720
24,482,017
159,344,244
103,628,149
55,716,095
71,705,578

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

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

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

3,985,595

8,555,688

10,547,159

4,626,163

67,719,983
115,399,677
34,582,156
32,992,572
1,589,584
80,817,521

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

67,618,872
171,210,007
45,054,477
42,621,791
2,432,686
126,155,530

81,346,163
162,147,141
46,973,656
45,317,698
1,655,958
115,173,485

244,651,447
145,828,228
98,823,219
216,822,456

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

350,130,616
195,906,902
154,223,714
310,289,195

383,786,985
222,647,661
161,139,324
343,454,319

27,828,991
11,011,724

36,206,548
14,334,820

39,841,421
15,672,433

40,332,666
19,619,114

(Thousand Rupees)
2009
2010
348,050,648
38,681,124
382,921,239
247,470,905
16,553,353
5,810,569
51,005,206
5,082,844
222,359,663
6,370,601
114,123,287
58,651,584
4,564,263
38,649,927
259,039,910
184,196,238
74,843,672
135,840,245
102,340,314
14,855,347
2,832
3,007,623
15,634,129
175,530,155
50,161,552
48,367,323
1,794,230
81,520,537
20,966,563
61,815,778
43,848,066

374,697,427
65,088,206
362,661,658
236,387,169
15,236,743
5,788,081
62,363,717
5,070,254
228,019,036
7,372,362
111,395,963
61,429,982
5,403,029
42,417,699
245,735,894
171,756,961
73,978,933
140,658,607
108,180,749
13,309,228
2,832
3,254,239
15,911,559
216,321,961
49,939,812
48,490,295
1,449,517
116,908,924
34,131,866
84,038,862
49,473,226
506,377,977
244,931,255
261,446,721
425,761,413
276,626,970
147,535,319
80,616,563
28,305,332
14,202,417
14,102,915
36,158,563
33,089,703
30,624,886
28,688,516
4,896,608
4,631,759
944,130
27,909,704

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

11,693,991
1,923,900
2,515,877
848,353

10,431,678
2,880,023
1,729,135
533,902

10,283,156
5,336,408
1,126,311
86,189

6,388,872
15,991,836
1,647,899
1,638,520

445,046,300
234,968,117
210,078,183
388,502,763
249,001,822
137,901,817
56,543,537
28,709,761
12,696,010
16,013,751
32,711,281
39,614,060
35,832,430
(4,327,336)
2,977,754
1,529,981
179,928
26,555,273

187,105,255
3,985,595
7,254,214
107,613,744

226,757,570
8,555,688
5,822,520
124,742,183

249,376,038
10,547,159
3,820,437
121,454,314

248,119,467
4,626,163
(11,250,863)
154,252,653

311,370,400
102,343,146
(8,835,071)
286,539,384

356,980,569
108,183,581
19,160,148
279,940,542

0.45
6.32
10.87
0.75
1.10
88.62
1.71
2.35
6.47
4.32
4.39
4.04

0.46
7.47
11.97
0.77
1.11
89.49
2.08
1.33
3.83
2.57
-5.83
3.44

0.27
8.90
13.18
0.78
0.86
87.29
2.25
-0.81
-2.56
-1.55
-4.77
3.90
0.88
-0.97
0.07
-1.51
36.29

0.30
6.53
12.13
0.84
0.93
84.08
1.79
4.89
14.64
8.58
5.14
4.55
1.94
5.67
0.07
4.91
44.61

11,011,724

14,334,820

15,672,433

19,619,114

8,471,258

16,963,954

22,144,033

28,671,518

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.37
3.46
11.74
0.71
1.06
88.63
2.00
3.71
11.32
6.99
3.88
2.87

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.46
5.44
10.39
0.76
1.08
88.39
1.80
2.76
7.97
5.04
4.37
3.76

4.78
0.00
2.94
34.76

3.35
0.00
1.85
35.96

2.94
0.00
1.26
43.57

1.66
0.00
-2.15
36.32

Billion Rs

Growth with Composition of Assets & Liabilites

400
350
300
250
200
150
100
50
0

25%

23.2%

20%

15%
7.7%

10%
2.5%

5%

3.5%

0%
-5%

-5.1%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

-10%

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

600
500

763.0%

Billion Rs

400
300

200
100

0
-100

13.8% Sales

Gross Profit

Net Profit Before Tax

Growth
900%
800%
700%
600%
500%
400%
300%
200%
100%
0%

42.6%

Key Performance Indicators

Profitability/Efficiency Ratios
16

14.64

2009

2009

14

8.58
4.89

Percentage

Percentage

4.91

10
8
6
4
2
0
-2
-4

5.67

2010

12

2010

2.25

3
2

1.79
0.86 0.93

1
0

-1
Return on
Assets
-0.81

Return on
Equity

-2.56

Return on
Capital
Emloyed
-1.55

-2

Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin
-0.97

Earing
Per Share
after Tax

-1.51

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

146,569,132

177,420,107

193,890,922

185,947,125

214,501,989
146,371,244
7,797,760
197,888

255,127,090
173,425,926
11,496,599
3,994,181

273,876,718
189,830,658
12,960,866
4,060,264

274,213,189
185,891,248
14,311,281
55,877

129,363,823
5,244,339
64,433,638
23,039,048
16,129,774
20,517,024
125,017,246
85,203,135
39,814,111
57,811,628

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

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

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

3,809,653

8,509,306

10,540,777

4,626,163

54,001,975
93,104,081
24,534,098
22,944,514
1,589,584
68,569,983

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

56,608,641
143,920,956
34,795,670
32,362,984
2,432,686
109,125,286

67,774,173
138,210,197
36,712,180
35,056,222
1,655,958
101,498,017

190,074,518
104,503,623
85,570,895
166,903,852

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

289,662,151
152,526,583
137,135,568
254,714,071

318,620,537
176,835,067
141,785,470
281,932,787

23,170,666
8,560,678

29,948,314
11,750,269

34,948,080
13,133,656

36,687,750
16,426,107

(Thousand Rupees)
2009
2010
297,198,825
34,025,743
316,751,485
215,727,270
13,152,768
5,763,501
37,199,982
4,482,329
191,170,099
4,454,725
98,466,327
51,546,296
4,519,377
32,183,374
217,300,407
160,962,579
56,337,828
117,105,444
88,807,355
13,799,353
2,832
2,318,487
12,177,417
153,963,073
40,512,328
38,718,099
1,794,230
74,175,434
17,875,354
57,618,128
39,275,310

320,677,703
47,367,075
318,054,339
214,896,202
12,785,932
5,752,583
47,783,914
4,877,928
200,058,212
6,129,896
95,177,281
56,963,775
5,281,884
36,505,376
218,730,876
158,778,100
59,952,776
117,262,712
89,131,687
12,186,854
2,832
2,551,850
13,389,489
184,742,327
43,953,798
42,504,281
1,449,517
93,531,641
28,824,033
66,025,655
47,256,888
432,575,641
197,275,561
235,300,081
361,288,061
229,769,237
129,921,642
71,287,580
23,899,362
12,376,946
11,522,417
31,346,488
30,063,708
28,025,897
23,194,112
3,903,969
3,708,722
924,973
26,468,668

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

10,940,856
1,562,513
1,620,520
533,893

8,141,009
2,330,512
1,515,176
495,570

8,845,256
4,886,538
993,950
86,189

8,246,877
15,391,119
1,502,624
625,933

380,898,857
192,729,179
188,169,678
328,097,797
207,935,208
118,565,407
52,801,060
24,917,941
11,154,864
13,763,076
27,830,548
34,405,692
31,599,192
(1,021,004)
2,524,049
1,190,866
179,928
20,269,960

150,915,709
3,809,653
7,757,823
89,012,788

188,951,007
8,509,306
4,295,321
106,303,615

211,070,374
10,540,777
2,964,768
105,636,057

210,610,533
4,626,163
(8,646,866)
133,865,584

271,068,517
88,810,187
(4,735,919)
249,772,766

302,005,039
89,134,519
15,581,422
247,912,619

0.44
6.51
10.66
0.75
1.10
87.93
1.69
2.45
6.69
4.42
3.98
4.23

0.47
7.65
11.86
0.77
1.12
88.49
2.00
2.06
5.85
3.91
-4.75
3.49

0.28
9.03
13.53
0.78
0.88
86.14
2.17
-0.23
-0.70
-0.42
-2.98
3.87
0.97
-0.27
0.06
-0.92
39.77

0.31
6.95
13.17
0.83
0.91
83.52
1.82
4.60
13.70
8.09
5.20
4.54
1.83
5.36
0.08
4.54
43.46

8,560,678

11,750,269

13,133,656

16,426,107

6,671,684

14,094,605

18,864,195

24,362,278

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.36
3.51
12.12
0.69
1.03
87.81
1.96
4.43
13.36
8.31
5.79
2.95

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

11

0.47
5.61
10.54
0.75
1.08
88.07
1.77
2.67
7.62
4.79
3.83
3.92

5.76
0.00
4.05
40.22

3.24
0.00
1.90
39.43

3.05
0.00
1.23
44.77

2.59
0.00
-2.08
40.20

Growth with Composition of Assets & Liabilites

350

25%

300

20.0%

20%

Billion Rs

250
15%

200
150

10%

7.9%

100

4.6%

50

0
Non-Current
Assets

5%
0.1%
0.7%
Current
Non-Current
Shareholders
Liabilities
Laibilities
Equity
2010
Growth

Current Assets

2009

0%

Growth & Composition of Operations

2009
500

Billion Rs

400

2010

432.58

380.90

300
200
52.80 71.29

100

23.19

0
Sales

-100

Gross Profit

Net Profit Before Tax

-1.02

Key Performance Indicators

Profitability/Efficiency Ratios
13.7

14

2009

4.6

4
2

-0.42

0
-2

Return on
Assets
-0.23

Return on
Capital
Emloyed

4.54

2
1

2.17
0.88

1.82

0.91

-1
Return on
Equity
-0.7

5.36

Percentage

Percentage

8.09

2010

2010

10

2009

12

Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin
-0.27

Earing
Per Share
after Tax
-0.92

Financial Statement Analysis of Non Financial Sector 2010

(Colony) Sarhad 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

2005

2006

2007

2008

390,031

388,273

386,561

385,645

510,148
390,031
1,403
0

510,118
388,273
1,757
0

510,118
386,561
3,312
0

509,770
385,645
913
0

225,265
270
109,865
61
5,000
110,069
167,923
0
167,923
343,892

214,700
303
99,695
0
5,000
109,702
180,169
0
180,169
343,892

204,887
208
83,964
5
0
120,710
510,756
0
510,756
27,442

216,025
223
83,964
50
16,490
115,298
247,788
0
247,788
304,665

343,892
103,481
40,000
40,000
0
63,481

343,892
78,912
40,000
40,000
0
38,912

27,442
53,250
40,000
40,000
0
13,250

304,665
49,217
40,000
40,000
0
9,217

56,724
56,724
0
58,629

60,172
60,172
0
71,598

35,952
35,952
0
47,414

0
0
0
5,567

(1,905)
5,250

(11,426)
6,332

(11,462)
4,268

(5,567)
3,315

(Thousand Rupees)
2009
2010
189,040
0
209,629
177,746
4,020
0
11,000
294
235,860
50
83,964
42
0
151,804
209,655
0
209,655
355,331
0
62,427
0
1,283
291,622
(140,086)
40,000
40,000
0
(344,425)
7,252
(351,677)
164,339

354,838
0
357,933
349,251
930
0
5,500
87
23,634
164
2,706
38
2,780
17,946
169,765
0
169,765
66,230
0
64,883
0
1,347
0
142,478
40,000
40,000
0
(233,540)
1,752
(235,292)
336,018
0
0
0
0
0
0
0
11,423
0
11,423
4,792
7,080
6,689
(14,473)
0
0
0
(7,204)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(11,891)
248
0
0

(24,481)
296
0
0

(21,467)
0
0
0

(14,800)
0
0
32,500

0
0
0
0
0
0
0
13,275
0
13,275
4,226
7,050
6,689
(72,497)
0
0
0
(7,037)

447,373
0
(12,139)
0

422,804
0
(24,777)
0

80,692
0
(21,467)
0

353,882
0
(14,800)
0

215,245
0
(72,497)
0

208,707
0
(14,473)
0

0.03
9.21
0.11
0.09
1.34
103.36
4.95
-1.93
-10.85
-2.62

0.03
11.64
0.00
0.10
1.19
118.99
6.64
-4.02
-26.84
-5.63

0.00
19.48
0.01
0.06
0.40
131.88
10.11
-3.59
-32.49
-8.53

0.07

0.00

0.02

0.00
0.87

0.00
1.12

0.00
0.14

5,250

6,332

4,268

3,315

5,224

7,007

7,003

7,046

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

11.22
-2.48
-28.89
-6.81

-4.03
-14.12
159.56
-25.48

1.66
-3.60
-1,210.39
-6.83

0.52

0.60

0.43

0.00

0.00
-9.84

0.00
-1.16

-20.96
0.00
-3.03
25.87

-40.69
0.00
-6.19
19.73

-59.71
0.00
-5.37
13.31

0.00
-3.70
12.30

-0.01
-18.12
-35.02

-0.03
-3.62
35.62

Financial Statement Analysis of Non Financial Sector 2010

(Colony) Thal 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

2005

2006

2007

2008

403,280

377,054

380,763

368,221

470,304
403,280
10,174
0

461,690
377,054
13,177
0

478,752
380,763
13,967
0

479,600
368,221
13,389
0

122,610
7,077
75,455
27,058
0
13,020
225,790
89,045
136,745
162,239

134,641
3,928
95,939
16,146
0
18,628
197,365
108,943
88,422
157,093

140,511
1,591
85,175
18,874
0
34,871
138,093
84,339
53,754
274,962

103,719
3,252
52,575
22,567
0
25,325
195,057
73,290
121,767
203,095

162,239
137,861
55,688
55,688
0
82,173

157,093
157,237
55,688
55,688
0
101,549

274,962
108,219
55,687
55,687
0
52,532

203,095
73,788
55,687
55,687
0
18,101

542,230
542,230
0
516,071

881,354
881,354
0
831,276

777,391
777,391
0
748,526

374,912
374,912
0
374,101

26,159
15,138

50,078
37,093

28,865
16,573

811
9,501

(Thousand Rupees)
2009
2010
352,325
0
445,902
322,228
12,691
0
0
30,097
104,176
3,956
56,873
20,384
0
22,962
179,489
78,462
101,028
242,819
199,204
43,402
0
213
0
34,187
55,688
55,688
0
(155,013)
17,887
(172,900)
133,512

352,325
0
445,902
322,228
12,691
0
0
30,097
104,176
3,956
56,873
20,384
0
22,962
179,489
78,462
101,028
242,819
199,204
43,402
0
213
0
34,187
55,688
55,688
0
(155,013)
17,887
(172,900)
133,512
120,620
120,620
0
132,840
105,101
27,739
(12,220)
8,814
44
8,770
7,814
28,117
27,850
(34,709)
0
0
0
(11,531)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

4,489
2,405
0
0

(6,542)
4,407
595
0

(13,626)
3,887
0
0

(32,557)
1,875
0
0

120,620
120,620
0
132,840
105,101
27,739
(12,220)
8,814
44
8,770
7,814
28,117
27,850
(34,709)
0
0
0
(11,531)

300,100
0
2,084
89,045

314,330
0
(11,544)
108,943

383,181
0
(17,513)
84,339

276,883
0
(34,432)
73,290

277,005
199,204
(34,709)
277,666

277,005
199,204
(34,709)
277,666

0.15
1.99
4.99
1.03
0.54
95.18
2.81
0.88
3.29
1.57

0.10
2.24
1.83
1.72
0.68
94.32
2.25
-1.26
-4.43
-2.13
-18.40
9.19

0.15
3.34
2.43
1.49
1.02
96.29
3.82
-2.64
-10.27
-3.91

0.13
6.37
6.02
0.79
0.53
99.78
5.40
-6.56
-35.78
-9.86

0.14
23.31
16.90
0.26
0.58
110.13
12.35
-7.48
-64.29
-12.53

0.14
23.31
16.90
0.26
0.58
110.13
12.35
-7.60
-101.53
-12.53

15,138

37,093

16,573

9,501

10,766

19,704

25,931

23,867

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

7.19

14

9.13

7.13

2.12
-0.25
-28.78
-0.03
-6.23
6.14

2.12
-0.25
-28.78
-0.03
-6.23
6.14

0.83
0.00
0.37
24.76

-0.74
0.00
-1.97
28.24

-1.75
0.00
-3.14
19.43

-8.68
0.00
-6.18
13.25

Financial Statement Analysis of Non Financial Sector 2010

Accord 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

2005

2006

2007

2008

302,945

287,788

273,540

259,924

457,090
302,945
11,815
0

456,452
287,788
15,133
0

456,451
273,540
14,248
0

456,452
259,924
13,616
0

86,937
2,692
63,013
2,115
0
19,117
199,453
37,584
161,869
179,257

100,017
2,163
68,992
2,386
0
26,476
618,921
111,210
507,711
81,046

50,149
1,051
13,010
5,577
0
30,511
383,082
5,556
377,526
285,123

18,760
372
11,600
1,626
0
5,162
399,583
4,181
395,402
229,814

179,257
11,172
93,000
93,000
0
(81,828)

81,046
(312,162)
93,000
93,000
0
(405,162)

285,123
(344,516)
93,000
93,000
0
(437,516)

229,814
(350,713)
93,000
93,000
0
(443,713)

192,409
192,409
0
210,358

269,281
269,281
0
306,868

387,866
387,866
0
415,426

378,758
378,758
0
380,936

(17,949)
3,950

(37,587)
4,736

(27,560)
4,407

(2,178)
3,649

(Thousand Rupees)
2009
2010
259,924
0
456,452
259,924
13,616
0
0
0
18,760
372
11,600
1,626
0
5,162
399,583
4,181
395,402
229,814
0
0
0
0
229,814
(350,713)
93,000
93,000
0
(443,713)
0
0
0

259,924
0
456,452
259,924
13,616
0
0
0
18,760
372
11,600
1,626
0
5,162
399,583
4,181
395,402
229,814
0
0
0
0
229,814
(350,713)
93,000
93,000
0
(443,713)
0
0
0

378,758
378,758
0
380,936
0
0
(2,178)
3,649
0
3,649

378,758
378,758
0
380,936
0
0
(2,178)
3,649
0
3,649

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,950

4,736

4,407

3,649

2,565

945

535

535

535

(21,893)
840
0
0

(1,124)
1,346
0
0

(32,618)
1,939
0
0

(6,362)
1,894
0
0

(6,362)
1,894
0
0

(6,362)
1,894
0
0

190,429
0
(22,733)
37,584

(231,116)
0
(2,470)
111,210

(59,393)
0
(34,557)
5,556

(120,899)
0
(8,256)
4,181

(120,899)
0
(8,256)
4,181

(120,899)
0
(8,256)
4,181

0.02
0.00
1.10
0.49
0.44
109.33
33.90
-5.61
20.36
-11.44

0.01
0.95
0.89
0.69
0.16
113.96
-2.24
-0.29
0.75
5.53

0.02
0.24
1.44
1.20
0.13
107.11
-1.94
-9.17
9.93
22.46

0.01
0.14
0.43
1.36
0.05
100.58
-1.79
-2.11
1.83
7.06

0.01
0.14
0.43
1.36
0.05
100.58
-1.79
-2.28
1.81
5.26

0.01
0.14
0.43
1.36
0.05
100.58
-1.79
-2.28
1.81
5.26

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

3.90

29.81

32.65

32.65

32.65

-11.38
0.00
-2.44
1.20

-0.42
0.00
-0.27
-33.57

-8.41
0.00
-3.72
-37.04

-1.68
0.00
-0.89
-37.71

-1.68
0.00
-0.89
-37.71

-1.68
0.00
-0.89
-37.71

Financial Statement Analysis of Non Financial Sector 2010

Adil 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

2005

2006

2007

2008

459,624

473,944

452,717

433,323

713,110
459,624
15,644
0

743,817
473,944
19,784
0

740,207
452,717
20,454
0

740,208
433,323
20,454
0

252,403
33,524
180,967
12,777
0
25,135
506,832
249,073
257,759
93,654

111,313
292
74,220
6,839
0
29,962
411,923
184,747
227,176
85,589

88,528
195
51,140
7,025
0
30,168
436,515
77,137
359,378
53,596

64,890
49
17,643
16,487
0
30,711
449,383
41,657
407,726
23,612

93,654
111,541
77,258
77,258
0
34,283

85,589
87,745
77,258
77,258
0
10,487

53,596
51,134
77,258
77,258
0
(26,124)

23,612
25,218
77,258
77,258
0
(52,040)

316,093
205,148
110,945
292,778

310,629
257,941
52,688
290,401

210,680
210,680
0
210,011

44,137
44,137
0
62,497

23,315
11,719

20,228
16,543

669
8,127

(18,360)
5,929

(Thousand Rupees)
2009
2010
417,137
2,192
740,208
412,722
18,408
0
0
2,223
45,701
45
3,933
16,487
0
25,236
299,343
191,536
107,807
176,659
0
174,771
0
1,888
0
(13,163)
77,258
77,258
0
(256,491)
0
(256,491)
166,070

417,137
2,192
740,208
412,722
18,408
0
0
2,223
45,701
45
3,933
16,487
0
25,236
299,343
191,536
107,807
176,659
0
174,771
0
1,888
0
(13,163)
77,258
77,258
0
(256,491)
0
(256,491)
166,070
0
0
0
34,554
0
34,554
(34,554)
2,000
0
2,000
749
1,827
1,827
(38,381)
0
0
0
(948)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,023
1,500
0
0

(20,974)
1,553
0
0

(35,557)
1,053
0
0

(25,685)
231
0
0

0
0
0
34,554
0
34,554
(34,554)
2,000
0
2,000
749
1,827
1,827
(38,381)
0
0
0
(948)

205,195
0
(477)
249,073

173,334
0
(22,527)
184,747

104,730
0
(36,610)
77,137

48,830
0
(25,916)
41,657

163,496
0
(38,381)
191,536

163,496
0
(38,381)
191,536

0.09
3.71
4.04
0.44
0.50
92.62
5.38
0.16
0.92
0.49

0.02
8.53
2.20
0.53
0.27
93.49
5.67
-3.23
-21.05
-11.08

0.02
13.76
3.33
0.39
0.20
99.68
9.58
-6.31
-51.21
-25.57

0.04
3.51
37.35
0.09
0.14
141.60
18.76
-4.94
-67.28
-33.45

0.06

0.06

0.00
0.15

0.00
0.15

11,719

16,543

8,127

5,929

11,725

26,507

28,996

1,548

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

16

-36.16
-7.99
-636.77
-36.15

-36.16
-8.29
291.58
-23.48

1.75

4.19

4.12

2.50

0.00
-20.01

0.00
-20.01

0.32
0.00
-0.06
14.44

-6.75
0.00
-2.92
11.36

-16.88
0.00
-4.74
6.62

-58.19
0.00
-3.35
3.26

0.00
-4.97
-1.70

0.00
-4.97
-1.70

Financial Statement Analysis of Non Financial Sector 2010

Ahmed Hassan 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

2005

2006

2007

2008

962,194

997,582

1,188,111

2,017,040

1,371,960
962,194
47,630
0

1,505,613
997,582
99,573
0

1,726,247
1,188,111
107,754
0

2,651,459
2,017,040
121,313
0

630,244
570
414,864
96,305
0
118,505
726,784
571,673
155,111
464,948

664,797
8,415
432,459
111,900
0
112,023
860,351
667,428
192,923
431,699

668,211
4,972
426,120
101,996
260
134,863
1,033,368
506,134
527,234
453,191

852,983
1,037
582,795
161,740
260
107,151
1,357,809
897,039
460,770
676,608

464,948
400,706
125,289
125,289
0
275,417

431,699
370,329
125,289
125,289
0
245,040

453,191
369,763
144,082
144,082
0
225,681

676,608
835,606
144,082
144,082
0
691,524

1,386,007
727,087
658,920
1,247,001

2,054,611
1,081,297
973,314
1,855,890

2,169,695
1,101,815
1,067,880
1,988,740

2,556,339
1,279,792
1,276,547
2,350,486

139,006
39,270

198,721
51,191

180,955
48,418

205,853
123,147

(Thousand Rupees)
2009
2010
1,954,829
0
2,773,973
1,949,987
103,502
0
260
4,582
1,005,863
1,781
688,559
233,831
0
81,692
1,362,550
1,103,087
259,463
856,360
636,443
105,000
0
0
114,917
741,782
144,082
144,082
0
69,839
32,746
37,093
527,861

1,670,722
0
2,237,913
1,665,880
101,271
0
260
4,582
1,161,102
1,080
614,809
199,998
0
345,215
1,234,835
943,802
291,033
757,070
547,812
105,000
0
0
104,258
839,919
144,082
144,082
0
151,823
32,746
119,077
544,015
3,392,153
1,401,779
1,990,374
2,972,176
2,306,177
665,999
419,977
139,926
111,598
28,328
170,585
226,558
212,888
57,835
19,904
0
0
512,784

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

60,211
7,443
0
0

28,769
11,651
0
0

2,708
0
0
0

(103,687)
13,183
0
0

2,736,386
1,458,634
1,277,752
2,437,948
1,774,982
662,966
298,437
94,074
68,647
25,427
142,741
296,767
243,487
(86,495)
12,619
0
0
194,072

865,654
0
52,768
571,673

802,028
0
17,118
667,428

822,954
0
2,708
506,134

1,512,214
0
(116,870)
897,039

1,598,141
636,443
(99,114)
1,739,530

1,596,989
547,812
37,931
1,491,614

0.13
2.90
6.95
0.87
0.87
89.97
2.97
4.53
16.11
8.43

0.14
5.92
5.45
1.24
0.77
90.33
3.49
1.77
7.46
3.45

0.10
6.02
4.70
1.17
0.65
91.66
4.02
0.15
0.73
0.33

0.12
7.37
6.33
0.89
0.63
91.95
2.43
-4.39
-17.20
-8.88

0.17
10.85
8.55
0.92
0.74
89.09
2.99
-2.97
-10.97
-5.56

0.16
6.68
5.90
1.20
0.94
87.62
2.37
2.00
7.31
3.62

39,270

51,191

48,418

123,147

40,157

121,619

130,705

188,339

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

3.34

4.75

5.09

4.39

3.97
0.64
-3.16
0.09
-6.88
51.48

5.52
1.27
1.70
0.26
2.63
58.29

4.34
0.00
4.21
31.98

1.40
0.00
1.37
29.56

0.12
0.00
0.19
25.66

-4.06
0.00
-8.11
58.00

Financial Statement Analysis of Non Financial Sector 2010

Al-Qadir 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

2005

2006

2007

2008

418,301

401,926

403,423

398,956

820,002
418,301
19,551
0

433,302
401,926
623
0

460,326
403,423
27,843
0

482,163
398,956
27,585
0

197,155
5,214
118,678
67,627
0
5,636
254,464
180,819
73,645
0

229,016
8,118
188,171
21,154
0
11,573
345,572
175,927
169,645
0

181,050
7,598
103,398
14,758
0
55,296
259,474
168
259,306
0

212,764
6,024
182,471
265
0
24,004
454,929
162,000
292,929
67,455

0
360,992
75,600
75,600
0
285,392

0
285,370
75,600
75,600
0
209,770

0
324,999
75,600
75,600
0
249,399

67,455
89,336
75,600
75,600
0
13,736

747,375
455,384
291,991
663,127

876,610
502,943
373,667
790,822

861,078
405,066
456,012
783,499

828,570
603,434
225,136
788,898

84,248
29,260

85,788
28,720

77,579
41,103

39,672
17,848

(Thousand Rupees)
2009
2010
380,741
0
490,256
380,297
25,685
0
0
445
197,867
7,250
163,248
3,334
0
24,035
198,358
151,000
47,358
72,909
0
0
0
3,299
69,610
307,342
75,600
75,600
0
138,710
15,923
122,787
93,032

497,617
0
505,694
497,173
24,206
0
0
445
145,642
51,718
44,284
26,552
0
23,089
93,015
0
93,015
114,041
0
0
0
5,141
108,900
436,203
75,600
75,600
0
172,516
15,923
156,593
188,087
1,106,614
909,480
197,134
998,647
714,000
284,648
107,967
32,077
12,265
19,812
84,973
23,497
21,649
53,325
20,308
7,560
0
197,585

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

71,345
3,462
0
0

34,091
5,527
0
0

15,414
6,805
0
0

(11,186)
2,240
0
0

761,897
595,787
166,110
705,901
523,894
182,007
55,995
18,113
5,898
12,215
48,089
31,117
28,365
10,733
6,532
0
0
22,769

360,992
0
67,883
180,819

285,370
0
28,564
175,927

324,999
0
8,609
168

156,791
0
(13,426)
162,000

380,250
0
4,201
151,000

550,244
0
25,457
0

0.29
2.17
9.05
1.21
0.77
88.73
0.70
12.56
22.40
18.73

0.08
2.78
2.41
1.39
0.66
90.21
1.21
5.47
10.55
10.55

0.09
2.77
1.71
1.47
0.70
90.99
0.80
2.54
5.05
5.05

0.01
3.43
0.03
1.35
0.47
95.21
5.85
-1.87
-5.40
-4.64

0.05
4.08
0.44
1.32
1.00
92.65
0.88
1.80
5.41
4.00

0.84
2.12
2.40
1.72
1.57
90.24
0.47
8.73
14.34
11.46
4.37
24.99
3.46
4.82
0.95
4.37
57.70

29,260

28,720

41,103

17,848

16,225

24,364

23,857

28,405

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

6.30

4.66

8.33

4.54

4.67
1.38
1.41
0.08
0.56
40.65

9.55
0.00
8.98
47.75

3.89
0.00
3.78
37.75

1.79
0.00
1.14
42.99

-1.35
0.00
-1.78
11.82

Financial Statement Analysis of Non Financial Sector 2010

Ali Asghar 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

2005

2006

2007

2008

657,667

886,359

882,090

864,345

756,746
638,969
10,717
18,698

978,257
871,880
13,130
14,479

998,769
882,090
34,636
0

1,002,928
864,345
26,885
0

336,542
1,498
155,407
111,270
0
68,367
476,140
263,929
212,211
92,799

316,463
1,157
135,344
127,781
0
52,181
439,158
241,948
197,210
210,465

360,557
10,145
135,510
154,924
0
59,978
519,037
181,843
337,194
294,953

370,275
1,541
184,950
0
0
183,784
488,689
218,026
270,663
326,801

92,799
425,270
191,494
191,494
0
233,776

210,465
553,199
191,494
191,494
0
361,705

294,953
428,657
191,494
191,494
0
237,163

326,801
419,130
222,133
222,133
0
196,997

442,631
440,087
2,544
387,771

589,340
571,077
18,263
510,031

550,874
538,035
12,839
489,537

485,802
481,017
4,785
433,709

54,860
17,667

79,309
20,115

61,337
24,151

52,093
28,952

(Thousand Rupees)
2009
2010
844,489
0
1,018,314
829,167
25,656
0
0
15,322
255,322
574
110,228
103,326
0
41,195
554,915
354,932
199,983
321,365
314,244
0
0
7,121
0
223,531
222,133
222,133
0
(567,383)
0
(567,383)
568,781

832,017
0
1,002,789
817,113
23,953
0
0
14,904
312,171
1,916
134,318
111,477
0
64,460
425,726
239,575
186,150
468,695
461,384
0
0
7,312
0
249,767
222,133
222,133
0
(535,608)
0
(535,608)
563,242
685,088
674,773
10,315
608,818
431,665
177,153
76,270
18,741
655
18,086
81,015
29,846
29,496
29,715
3,479
0
0
33,335

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,941
2,085
0
0

11,987
2,947
0
0

(26,587)
2,793
0
0

(37,735)
2,429
0
0

505,458
495,197
10,261
574,641
345,926
228,715
(69,183)
29,768
7,656
22,112
74,203
97,204
86,131
(195,497)
103
0
0
(13,798)

518,069
0
3,856
263,929

763,664
0
9,040
241,948

723,610
0
(29,380)
181,843

745,931
0
(40,164)
218,026

544,896
314,244
(195,599)
669,176

718,462
461,384
26,236
700,959

0.24
7.09
25.14
0.45
0.71
87.61
1.34
0.82
2.80
2.01

0.29
8.94
21.68
0.49
0.72
86.54
1.17
1.09
2.45
1.87

0.32
13.65
28.12
0.44
0.69
88.87
1.90
-2.17
-5.42
-3.58

0.00
14.24
0.00
0.39
0.76
89.28
1.95
-3.05
-8.90
-5.14

0.19
19.23
20.44
0.46
0.46
113.69
3.92
-16.75
-60.84
-30.29

0.27
4.36
16.27
0.60
0.73
88.87
3.58
2.65
12.56
4.70

17,667

20,115

24,151

28,952

31,385

52,706

75,200

69,191

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.85

4.35

4.07

2.63

4.59
-1.27
-38.68
-0.02
-8.81
10.06

5.10
2.01
4.34
0.04
1.18
11.24

1.34
0.00
0.10
11.10

2.03
0.00
0.24
14.44

-4.83
0.00
-0.77
11.19

-7.77
0.00
-0.90
9.43

Financial Statement Analysis of Non Financial Sector 2010

Allawasaya Textile & Finishing 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

2005

2006

2007

2008

99,336

102,771

98,825

208,983

278,001
99,336
8,619
0

292,307
102,771
12,353
0

297,845
98,825
11,390
0

407,774
208,983
11,672
0

123,479
2,882
41,632
49,281
1,739
27,945
85,550
45,023
40,527
0

209,741
5,322
126,671
52,944
1,739
23,065
187,708
131,497
56,211
0

177,324
7,215
95,758
52,367
2,257
19,727
152,220
86,594
65,626
0

343,778
3,059
255,594
49,503
2,256
33,366
384,453
329,406
55,047
84,430

0
137,265
8,000
8,000
0
129,265

0
124,804
8,000
8,000
0
116,804

0
123,929
8,000
8,000
0
115,929

84,430
83,878
8,000
8,000
0
75,878

684,711
684,711
0
643,800

790,758
790,758
0
751,142

827,380
827,380
0
792,146

865,665
865,665
0
848,196

40,911
14,187

39,616
21,103

35,234
18,594

17,469
22,814

(Thousand Rupees)
2009
2010
268,345
0
500,018
264,021
26,794
0
2,256
2,068
302,191
3,875
184,210
93,900
1
20,205
340,284
289,014
51,270
107,258
89,585
0
0
0
17,673
122,994
8,000
8,000
0
66,646
2,669
63,977
48,348

251,362
0
506,151
247,040
28,325
0
2,255
2,068
222,619
472
91,979
107,431
1
22,736
198,414
127,033
71,381
113,245
67,648
0
0
0
45,597
162,322
8,000
8,000
0
111,023
2,668
108,355
43,300
1,464,365
1,464,365
0
1,303,842
989,066
314,776
160,523
42,527
3,775
38,752
110,583
44,462
43,374
74,574
7,322
5,800
0
191,288

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

22,650
7,435
1,000
3,001

7,462
3,954
3,000
0

6,428
4,137
0
0

(31,045)
4,328
0
0

1,067,020
1,067,020
0
1,013,541
787,838
225,703
53,479
24,415
2,280
22,135
70,920
68,778
66,263
(39,393)
0
0
0
27,283

137,265
0
14,215
45,023

124,804
0
508
131,497

123,929
0
2,291
86,594

168,308
0
(35,373)
329,406

230,252
89,585
(39,393)
378,599

275,567
67,648
61,453
194,681

0.63
0.69
7.20
3.07
1.44
94.03
0.62
10.50
17.36
17.36
15.22
16.45

0.32
1.51
6.70
2.53
1.12
94.99
1.50
2.79
5.69
5.69
1.17
6.24

0.41
1.30
6.33
3.00
1.16
95.74
1.23
2.18
5.17
5.17

0.14
3.03
5.72
1.57
0.89
97.98
5.59
-7.49
-29.88
-21.25

0.29
6.45
8.80
1.87
0.89
94.99
3.64
-7.01
-38.08
-19.77

0.54
3.04
7.34
3.09
1.12
89.04
1.92
14.28
52.27
29.49
11.60
15.92
2.72
5.09
0.61
84.07
202.90

14,187

21,103

18,594

22,814

4,728

11,927

10,788

26,199

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

20

8.64

3.39

5.79
0.41
-3.69
0.06
-49.24
153.74

3.31
0.00
19.02
171.58

0.94
0.00
4.39
156.01

0.78
0.00
2.86
154.91

-3.59
0.00
-44.22
104.85

Financial Statement Analysis of Non Financial Sector 2010

Amin 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

2005

2006

2007

2008

139,570

121,638

114,099

103,940

276,970
135,602
10,148
3,968

271,558
121,638
13,667
0

276,197
114,099
12,233
0

22,766
743
16,372
3,567
0
2,084
413,320
25,125
388,195
75,375

(Thousand Rupees)
2009
2010

277,535
103,940
11,487
0

103,940
0
277,535
103,940
11,487
0

103,940
0
277,535
103,940
11,487
0

25,770
149
16,833
753
0
8,035
129,176
0
129,176
100,500

31,031
308
18,499
3,480
0
8,744
149,413
0
149,413
100,500

26,524
422
14,392
1,859
0
9,851
133,456
0
133,456
113,170

26,524
422
14,392
1,859
0
9,851
133,456
0
133,456
113,170

26,524
422
14,392
1,859
0
9,851
133,456
0
133,456
113,170

75,375
(326,359)
51,750
51,750
0
(378,109)

100,500
(82,268)
51,750
51,750
0
(134,018)

100,500
(104,783)
51,750
51,750
0
(156,533)

113,170
(116,162)
51,750
51,750
0
(167,912)

113,170
(116,162)
51,750
51,750
0
(167,912)

113,170
(116,162)
51,750
51,750
0
(167,912)

141,226
141,226
0
152,510

278,221
278,221
0
275,941

305,995
305,995
0
294,035

330,806
330,806
0
325,138

330,806
330,806
0
325,138

330,806
330,806
0
325,138

(11,284)
7,853

2,280
17,945

11,960
19,050

5,668
17,457

5,668
17,457

5,668
17,457

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

7,853

17,945

19,050

17,457

17,457

17,457

3,414

101

145

167

167

167

(21,944)
623
0
0

249,305
1,391
0
0

(6,816)
1,530
0
0

(11,756)
1,654
0
0

(11,956)
1,654
0
0

(11,956)
1,654
0
0

(250,984)
0
(22,567)
25,125

18,232
0
247,914
0

(4,283)
0
(8,346)
0

(2,992)
0
(13,410)
0

(2,992)
0
(13,610)
0

(2,992)
0
(13,610)
0

0.01
2.42
2.53
0.87
0.06
107.99
-1.50
-14.00
7.03
26.15

0.01
0.04
0.27
1.89
0.20
99.18
-2.79
160.97
-122.02
-214.22

0.03
0.05
1.14
2.11
0.21
96.09
-2.39
-4.66
7.29
-97.73

0.02
0.05
0.56
2.54
0.20
98.29
-2.12
-8.53
10.64
323.19

0.02
0.05
0.56
2.54
0.20
98.29
-2.12
-9.16
10.29
399.60

0.02
0.05
0.56
2.54
0.20
98.29
-2.12
-9.16
10.29
399.60

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

8.63

16.53

16.54

22.99

22.99

22.99

-15.54
0.00
-4.36
-63.06

89.61
0.00
47.91
-15.90

-2.23
0.00
-1.61
-20.25

-3.55
0.00
-2.59
-22.45

-3.61
0.00
-2.63
-22.45

-3.61
0.00
-2.63
-22.45

Financial Statement Analysis of Non Financial Sector 2010

Amtex Ltd.
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,657,979
634,332
4,696,802
4,985,475
260,419
10,703
0
27,469
12,395,153
144,263
6,456,145
3,993,788
0
1,800,957
9,888,898
8,528,844
1,360,054
923,378
893,641
0
0
29,737
0
7,240,855
902,451
902,451
0
3,867,410
98,039
3,769,371
2,470,995

5,872,068
844,947
5,053,154
4,997,349
345,680
8,324
0
21,448
13,248,086
145,465
6,541,818
4,583,263
0
1,977,540
9,802,055
8,428,585
1,373,471
553,730
509,601
0
0
44,130
0
8,764,368
2,414,901
2,414,901
0
4,008,559
281,039
3,727,520
2,340,908

14,119,588
940,545
13,179,043
10,731,034
6,803,435
3,927,599
3,388,554
760,764
560,159
200,605
673,854
1,577,759
1,449,667
1,055,163
133,759
0
0
155,377

11,066,129
883,152
10,182,977
8,119,352
5,089,003
3,030,349
2,946,777
657,275
439,559
217,717
550,539
1,457,787
1,337,048
833,808
103,295
0
724,470
170,300

8,164,233
893,641
921,403
9,422,485

9,318,098
509,601
730,513
8,938,186

0.42
11.17
28.29
0.78
1.25
76.00
1.49
5.84
14.57
12.92

0.48
13.17
41.42
0.58
1.35
73.37
1.18
4.49
10.42
9.54

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.19
1.73
7.47
0.01
10.21
80.24

1.69
1.62
7.53
0.02
3.03
36.29

Financial Statement Analysis of Non Financial Sector 2010

Annoor 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

2005

2006

2007

2008

27,660

27,660

22,443

20,218

36,865
27,660
2,226
0

36,865
27,660
2,226
0

36,865
22,443
2,471
0

36,865
20,218
2,225
0

30,240
223
12,269
8,219
0
9,529
58,423
3,955
54,468
2,910

30,240
223
12,269
8,219
0
9,529
58,423
3,955
54,468
2,910

16,428
238
0
6,661
0
9,529
55,881
0
55,881
5,488

16,430
240
0
6,661
0
9,529
42,594
0
42,594
18,898

2,910
(3,433)
8,712
8,712
0
(12,145)

2,910
(3,433)
8,712
8,712
0
(12,145)

5,488
(22,498)
8,712
8,712
0
(31,210)

18,898
(24,844)
8,712
8,712
0
(33,556)

27,605
27,605
0
27,975

27,605
27,605
0
27,975

0
0
0
2,471

0
0
0
0

(370)
639

(370)
639

(2,471)
330

0
121

(Thousand Rupees)
2009
2010
18,700
0
36,865
18,216
2,003
0
0
485
16,387
234
0
7,061
0
9,092
37,554
0
37,554
19,383
0
19,383
0
0
0
(21,850)
8,712
8,712
0
(30,562)
0
(30,562)
0

16,897
0
36,865
16,413
1,803
0
0
485
16,405
253
0
7,061
0
9,091
37,554
0
37,554
19,833
0
19,833
0
0
0
(24,084)
8,712
8,712
0
(32,796)
0
(32,796)
0
0
0
0
0
0
0
0
2,235
0
2,235
0
0
0
(2,235)
0
0
0
(431)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(1,016)
138
0
0

(1,016)
138
0
0

(2,802)
0
0
0

(121)
0
0
0

0
0
0
0
0
0
0
2,493
0
2,493
0
0
0
(2,493)
0
0
0
(491)

(523)
0
(1,154)
3,955

(523)
0
(1,154)
3,955

(17,010)
0
(2,802)
0

(5,946)
0
(121)
0

(2,467)
0
(2,493)
0

(4,251)
0
(2,235)
0

0.14
0.03
29.77
0.48
0.52
101.34
-17.87
-2.25
35.57
-85.85

0.14
0.03
29.77
0.48
0.52
101.34
-17.87
-1.75
29.60
194.26

0.12

0.16

0.19

0.19

0.00
0.29

0.00
0.39

0.00
0.44

0.00
0.44

639

639

330

121

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.25

2.25

-3.68
0.00
-0.66
-1.97

-3.68
0.00
-0.66
-1.97

-2.73
-5.79
21.61
31.96

-2.48
-0.32
0.51
1.05

-2.61
-6.95
10.68
59.27

-2.38
-6.53
9.73
66.53

0.00
-1.61
-12.91

0.00
-0.07
-14.26

-0.01
-2.86
-25.08

-0.01
-2.56
-27.64

Financial Statement Analysis of Non Financial Sector 2010

Apollo 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

2005

2006

2007

2008

1,803,839

1,752,866

1,643,147

1,561,264

1,833,691
1,803,839
42,974
0

1,886,933
1,752,866
128,772
0

1,765,021
1,643,147
134,412
0

1,918,256
1,561,264
126,351
0

873,367
22,306
502,597
167,628
879
179,957
867,294
747,868
119,426
934,379

1,037,967
90,427
532,812
203,072
0
211,656
1,339,764
860,001
479,763
786,528

1,207,679
8,152
676,485
250,035
0
273,007
1,511,982
1,035,280
476,702
680,002

1,504,190
9,873
1,201,697
121,009
5,724
165,887
1,990,411
1,391,277
599,134
363,303

934,379
875,533
82,847
82,847
0
792,686

786,528
664,541
82,847
82,847
0
581,694

680,002
658,842
82,847
82,847
0
575,995

363,303
711,740
82,847
82,847
0
628,893

1,088,925
312,661
776,264
935,483

1,783,680
504,254
1,279,426
1,527,276

1,864,529
412,968
1,451,561
1,521,250

1,137,616
524,624
612,992
899,293

153,442
67,266

256,404
88,470

343,279
91,175

238,323
58,098

(Thousand Rupees)
2009
2010
1,443,632
0
1,922,858
1,437,801
129,194
0
0
5,831
1,659,504
12,133
1,430,647
52,273
0
164,451
1,952,051
1,438,238
513,813
497,916
414,041
1,086
0
7,194
75,596
653,169
82,847
82,847
0
193,674
0
193,674
376,648

1,443,632
0
1,922,858
1,437,801
129,194
0
0
5,831
1,659,504
12,133
1,430,647
52,273
0
164,451
1,952,051
1,438,238
513,813
497,916
414,041
1,086
0
7,194
75,596
653,169
82,847
82,847
0
193,674
0
193,674
376,648
821,057
735,065
85,992
758,734
594,142
164,592
62,323
60,141
8,618
51,523
105,477
57,781
55,702
(55,599)
1,520
0
0
43,883

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

28,053
11,100
0
0

28,946
18,311
0
0

1,666
23,827
0
0

(43,273)
8,674
0
0

821,057
735,065
85,992
758,734
594,142
164,592
62,323
60,141
8,618
51,523
105,477
57,781
55,702
(55,599)
1,520
0
0
43,883

1,809,912
0
16,953
747,868

1,451,069
0
10,635
860,001

1,338,844
0
(22,161)
1,035,280

1,075,043
0
(51,947)
1,391,277

1,151,086
414,041
(57,119)
1,852,279

1,151,086
414,041
(57,119)
1,852,279

0.22
5.39
15.39
0.41
1.01
85.91
2.06
1.35
4.96
2.22

0.22
8.09
11.39
0.64
0.77
85.63
3.20
1.06
3.76
1.78

0.17
13.49
13.41
0.65
0.80
81.59
3.33
0.06
0.25
0.12

0.07
20.06
10.64
0.37
0.76
79.05
3.31
-1.46
-6.31
-3.59

0.03
7.04
6.37
0.26
0.85
92.41
3.75
-1.80
-8.15
-5.00

0.03
7.04
6.37
0.26
0.85
92.41
3.75
-1.79
-8.51
-4.83

67,266

88,470

91,175

58,098

58,700

144,351

251,533

228,182

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.17

3.35

2.76

0.95

0.57
0.00
-6.77
0.02
-6.89
78.84

0.57
0.00
-6.77
0.02
-6.89
78.84

2.58
0.00
2.05
105.68

1.62
0.00
1.28
80.21

0.09
0.00
-2.67
79.53

-3.80
0.00
-6.27
85.91

Financial Statement Analysis of Non Financial Sector 2010

Artistic Denim 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

2005

2006

2007

2008

2,071,329

2,708,605

3,115,039

3,260,768

2,643,642
2,071,329
82,065
0

3,477,015
2,708,605
199,963
0

3,582,567
3,115,039
185,353
0

4,328,434
3,260,768
171,955
0

627,637
22,919
295,490
205,306
0
103,922
704,853
491,858
212,995
625,000

879,163
275,909
355,065
200,415
0
47,774
813,820
686,669
127,151
1,044,444

1,091,569
9,859
567,663
424,061
0
89,986
1,202,388
935,135
267,253
880,968

1,322,021
67,280
796,552
368,877
0
89,312
1,267,566
1,046,483
221,083
842,387

625,000
1,369,113
140,000
140,000
0
1,229,113

1,044,444
1,729,504
140,000
140,000
0
1,589,504

880,968
2,123,252
700,000
700,000
0
1,423,252

842,387
2,472,836
840,000
840,000
0
1,632,836

3,202,724
22,230
3,180,494
2,346,186

2,491,554
28,520
2,463,034
1,746,532

2,499,530
56,792
2,442,738
1,758,038

2,461,865
102,021
2,359,844
1,823,851

856,538
169,227

745,022
136,146

741,492
145,144

638,014
145,620

(Thousand Rupees)
2009
2010
3,431,575
84,401
4,608,390
3,341,198
199,900
0
0
5,976
1,220,207
7,481
654,557
416,740
12,200
129,229
1,479,389
1,198,564
280,825
491,136
471,430
0
0
0
19,706
2,681,257
840,000
840,000
0
1,841,257
0
1,841,257
0

3,425,534
26,960
4,852,945
3,393,330
240,434
0
0
5,244
1,705,817
34,965
901,334
579,728
14,623
175,167
1,910,518
1,639,303
271,215
373,040
348,293
0
0
0
24,747
2,847,793
840,000
840,000
0
2,007,793
0
2,007,793
0
3,671,610
138,276
3,533,334
2,904,895
2,009,358
895,537
766,715
265,451
129,198
136,253
116,159
159,563
144,288
370,925
36,361
168,000
0
120,197

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

651,797
32,091
56,000
0

500,490
29,487
112,000
0

438,286
30,000
0
0

373,722
24,679
0
140,000

3,125,384
123,760
3,001,624
2,427,400
1,535,337
892,063
697,984
176,606
94,933
81,673
104,120
186,278
169,568
410,338
32,512
168,000
0
704,036

1,994,113
0
563,706
491,858

2,773,948
0
359,003
686,669

3,004,220
0
408,286
935,135

3,315,223
0
349,043
1,046,483

3,172,393
471,430
209,826
1,669,994

3,220,833
348,293
166,564
1,987,596

0.32
1.72
6.41
1.19
0.89
73.26
0.97
31.63
61.62
46.30
11.07
10.84

0.59
4.68
8.04
0.69
1.08
70.10
1.07
15.92
32.30
20.99
4.21
7.02

0.36
6.89
16.97
0.59
0.91
70.33
0.98
11.25
22.75
15.17

0.34
6.71
14.98
0.54
1.04
74.08
0.85
8.50
16.26
11.83

0.30
5.96
13.33
0.67
0.82
77.67
0.73
8.89
15.92
12.65
2.25
4.77
3.42
13.13
0.36
4.50
31.92

0.33
4.35
15.79
0.72
0.89
79.12
0.80
7.58
13.42
11.60
1.99
4.07
3.57
10.10
0.05
3.98
33.90

169,227

136,146

145,144

145,620

55,221

116,539

172,119

165,183

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

4.40

3.09

20.35
0.00
44.26
97.79

20.09
0.00
33.64
123.54

17.53
0.00
5.83
30.33

15.18
0.00
4.16
29.44

Financial Statement Analysis of Non Financial Sector 2010

Ashfaq 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

2005

2006

2007

2008

278,646

307,600

347,095

342,052

347,322
278,646
9,654
0

388,828
307,600
12,552
0

353,574
347,095
14,455
0

362,734
342,052
15,020
0

238,337
4,041
127,188
48,855
0
58,253
341,302
168,881
172,421
79,332

264,274
29,351
138,527
55,804
0
40,592
410,978
231,687
179,291
56,622

252,610
21,432
138,570
56,861
0
35,747
476,716
213,607
263,109
22,078

255,003
2,735
156,567
72,627
0
23,074
436,419
210,180
226,239
5,645

79,332
96,349
69,970
69,970
0
26,379

56,622
104,274
69,970
69,970
0
34,304

22,078
100,911
69,970
69,970
0
30,941

5,645
154,991
69,970
69,970
0
85,021

757,758
18,586
739,172
663,175

876,657
13,668
862,989
761,507

595,761
18,445
577,316
510,203

485,673
19,217
466,456
410,927

94,583
57,213

115,150
65,991

85,558
44,604

74,746
38,037

(Thousand Rupees)
2009
2010
332,143
0
366,600
331,210
14,708
0
0
933
214,169
3,462
141,035
42,006
0
27,666
237,559
207,296
30,263
143,439
0
137,000
0
6,439
0
165,314
69,970
69,970
0
38,207
0
38,207
57,137

421,332
19,853
338,850
396,495
35,859
0
0
4,984
198,572
2,730
85,946
63,547
0
46,349
232,554
175,423
57,131
115,710
0
107,000
0
8,710
0
271,641
69,970
69,970
0
62,222
0
62,222
139,449
883,856
61,363
822,493
777,919
550,026
227,893
105,937
59,385
41,030
18,356
59,472
25,265
18,674
21,286
8,534
0
0
120,271

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

22,014
7,243
0
0

21,731
10,349
0
0

14,343
7,380
0
0

9,412
4,645
0
0

680,361
33,384
646,977
585,049
441,367
143,682
95,311
50,001
34,046
15,955
46,447
27,570
20,284
17,740
7,074
0
0
62,534

175,681
0
14,771
168,881

160,896
0
11,382
231,687

122,989
0
6,963
213,607

160,636
0
4,767
210,180

308,754
0
10,666
207,296

387,351
0
12,752
175,423

0.15
2.03
6.45
1.47
0.70
87.52
4.37
5.12
24.82
15.17

0.21
3.13
6.37
1.53
0.64
86.86
4.48
3.99
21.66
12.91

0.16
4.47
9.54
0.99
0.53
85.64
4.94
2.45
13.98
10.10

0.17
5.72
14.95
0.81
0.58
84.61
2.85
1.57
7.36
6.64

0.19
4.05
6.17
1.25
0.90
85.99
2.30
3.10
11.08
7.56

0.28
2.86
7.19
1.43
0.85
88.01
1.28
3.65
9.74
6.12

57,213

65,991

44,604

38,037

15,356

27,428

26,611

27,779

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

26

5.96

6.33

4.30

3.10

4.82
1.87
2.61
0.16
1.52
23.63

10.28
2.14
2.41
0.35
1.82
38.82

2.91
0.00
2.11
13.77

2.48
0.00
1.63
14.90

2.41
0.00
1.00
14.42

1.94
0.00
0.68
22.15

Financial Statement Analysis of Non Financial Sector 2010

Asim 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

2005

2006

2007

2008

450,851

436,848

422,996

297,483

576,819
450,851
17,476
0

585,433
436,848
22,617
0

593,607
422,996
22,026
0

594,728
297,483
21,300
0

72,405
16,444
33,646
614
0
21,701
212,974
0
212,974
415,047

89,615
2,571
60,947
0
0
26,097
330,065
2,544
327,521
415,047

84,347
9,816
46,530
33
0
27,968
222,128
0
222,128
504,737

235,566
141,776
90,790
20
0
2,980
333,669
2,544
331,125
415,047

415,047
(104,765)
151,770
151,770
0
(256,535)

415,047
(218,649)
151,770
151,770
0
(370,419)

504,737
(219,522)
151,770
151,770
0
(371,292)

415,047
(215,667)
151,770
151,770
0
(367,437)

285,576
275,149
10,427
298,530

515,387
502,539
12,848
500,106

536,329
513,180
23,149
529,134

630,013
630,013
0
620,053

(12,954)
5,806

15,281
9,960

7,195
9,809

9,960
7,513

(Thousand Rupees)
2009
2010
397,599
7,299
594,997
382,839
20,247
0
0
7,461
82,109
46,711
19,567
0
0
15,831
229,507
0
229,507
495,720
415,047
0
0
3,491
77,182
(245,519)
151,770
151,770
0
(546,367)
0
(546,367)
149,078

386,331
0
610,699
378,870
19,671
0
0
7,461
122,441
54,557
37,412
2,636
0
27,836
236,019
0
236,019
491,443
415,047
0
0
3,073
73,323
(218,690)
151,770
151,770
0
(512,371)
0
(512,371)
141,911
832,727
828,076
4,651
793,288
617,064
176,224
39,439
13,218
297
12,921
51,456
311
0
27,161
4,171
0
0
16,249

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(39,436)
1,427
0
0

(17,743)
2,577
0
0

(2,692)
2,682
0
0

2,426
3,150
0
0

650,364
650,364
0
677,728
512,269
165,459
(27,364)
7,945
0
7,945
45,886
23
0
(33,877)
0
0
0
39,536

310,282
0
(40,863)
0

196,398
0
(20,320)
2,544

285,215
0
(5,374)
0

199,380
0
(724)
2,544

250,201
415,047
(33,877)
415,047

272,753
415,047
22,990
415,047

0.08
7.29
0.22
0.55
0.34
104.54
-5.99
-7.57
46.53
-11.94

0.01
4.48
0.00
0.98
0.27
97.04
-3.41
-3.38
10.97
-7.00

0.04
0.01
0.01
1.06
0.38
98.66
-3.31
-0.52
1.23
-1.12

0.42
0.00
0.00
1.18
0.71
98.42
-3.47
0.47
-1.11
1.00

0.20
0.00
0.00
1.36
0.36
104.21
-2.95
-6.69
14.69
-15.07

0.24
0.04
0.32
1.64
0.52
95.26
-3.33
5.50
-11.70
10.39

5,806

9,960

9,809

7,513

20,809

23,064

78

21

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

27

8.49

8.46

11.53

6.94

33.24

22.26

-13.81
0.00
-2.69
-6.90

-3.44
0.00
-1.34
-14.41

-0.50
0.00
-0.35
-14.46

0.39
0.00
-0.05
-14.21

-5.21
0.05
-2.23
-16.18

3.26
0.02
1.51
-14.41

Financial Statement Analysis of Non Financial Sector 2010

Ayesha 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

2005

2006

2007

2008

567,629

1,705,425

1,783,197

1,773,376

1,094,146
567,629
42,343
0

1,724,742
1,705,425
66,785
0

1,925,241
1,783,197
133,442
0

1,967,848
1,773,376
69,595
0

469,099
26,466
271,327
95,668
3,500
72,138
531,762
374,033
157,729
142,945

574,294
52,321
218,664
91,727
3,500
208,082
679,727
324,039
355,688
199,447

566,748
6,794
262,860
94,082
21,401
181,611
685,348
319,615
365,733
492,187

727,565
21,479
355,568
163,667
16,250
170,601
946,104
443,246
502,858
452,188

142,945
362,021
14,000
14,000
0
348,021

199,447
1,400,545
14,000
14,000
0
1,386,545

492,187
1,172,410
14,000
14,000
0
1,158,410

452,188
1,102,649
14,000
14,000
0
1,088,649

1,298,291
1,156,350
141,941
1,200,745

1,920,755
1,507,963
412,792
1,804,280

2,117,172
1,725,446
391,726
2,076,948

2,119,100
1,870,027
249,073
2,066,292

97,546
22,283

116,475
38,463

40,224
34,495

52,808
40,271

(Thousand Rupees)
2009
2010
2,400,643
0
2,388,516
2,361,725
68,064
0
32,823
6,095
554,886
7,425
284,888
84,176
0
178,397
742,045
552,360
189,685
821,255
425,665
73,752
0
1,889
319,949
1,392,229
14,000
14,000
0
190,682
7,077
183,605
1,187,547

2,320,542
0
2,408,121
2,281,225
100,307
0
33,519
5,798
539,875
10,981
204,567
87,418
0
236,909
729,368
519,284
210,084
736,499
326,569
90,403
0
1,568
317,959
1,394,550
14,000
14,000
0
241,889
7,077
234,812
1,138,661
2,371,233
2,042,605
328,628
2,194,076
1,600,305
593,771
177,157
45,016
12,936
32,080
138,536
119,379
111,526
13,970
13,639
0
0
59,532

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

38,674
7,535
0
0

13,693
9,444
0
0

(60,271)
10,375
0
0

(65,726)
10,500
0
0

1,865,360
1,642,051
223,309
1,864,632
1,308,212
556,420
728
80,834
10,615
70,219
127,112
118,910
109,439
(211,891)
2,233
0
0
(108,630)

504,966
0
31,139
374,033

1,599,992
0
4,249
324,039

1,664,597
0
(70,646)
319,615

1,554,837
0
(76,226)
443,246

2,213,484
425,665
(214,124)
978,025

2,131,049
326,569
331
845,853

0.24
2.83
7.37
1.25
0.88
92.49
1.86
3.67
11.14
7.40

0.22
3.35
4.78
0.84
0.84
93.94
0.63
0.83
1.55
1.30

0.18
3.69
4.44
0.90
0.83
98.10
1.00
-2.60
-4.68
-3.69

0.21
3.47
7.72
0.85
0.77
97.51
1.27
-2.71
-5.78
-4.08

0.12
6.37
4.51
0.63
0.75
99.96
1.12
-7.77
-16.99
-11.25

0.13
5.03
3.69
0.83
0.74
92.53
1.05
0.48
1.00
0.64

22,283

38,463

34,495

40,271

36,801

64,416

78,119

73,553

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

4.78

8.78

8.05

5.96

6.55
-0.94
-11.36
-0.07
-152.95
994.45

11.59
1.13
0.59
0.04
0.24
996.11

2.98
0.00
22.24
258.59

0.71
0.00
3.04
1,000.39

-2.85
0.00
-50.46
837.44

-3.10
0.00
-54.45
787.61

Financial Statement Analysis of Non Financial Sector 2010

Azam 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

2005

2006

2007

2008

480,331

470,201

458,093

440,493

580,176
480,331
17,286
0

593,515
470,201
24,365
0

605,091
458,093
24,361
0

610,304
440,493
23,829
0

233,614
2,831
108,034
11,610
0
111,139
365,788
178,442
187,346
115,998

218,351
1,801
126,544
18,207
0
71,799
416,729
151,988
264,741
84,715

238,856
4,694
136,013
18,059
0
80,090
446,699
142,864
303,835
59,665

210,072
4,495
139,811
6,545
0
59,221
505,855
95,615
410,240
57,859

115,998
232,159
132,750
132,750
0
99,409

84,715
187,108
132,750
132,750
0
54,358

59,665
190,585
132,750
132,750
0
57,835

57,859
86,851
132,750
132,750
0
(45,899)

260,780
260,780
0
236,760

428,590
428,590
0
373,221

476,282
476,282
0
423,516

456,409
456,409
0
400,632

24,020
10,248

55,369
19,498

52,766
18,628

55,777
20,658

(Thousand Rupees)
2009
2010
522,522
0
713,397
519,874
23,844
0
0
2,649
172,625
1,955
136,696
6,553
0
27,421
197,858
104,820
93,038
363,165
43,500
181,030
0
11,082
127,554
134,124
132,750
132,750
0
(220,405)
0
(220,405)
221,779

515,469
0
722,523
504,601
24,682
0
0
10,869
152,707
5,187
97,491
28,331
0
21,698
123,783
81,200
42,583
337,409
30,000
178,530
0
12,650
116,230
206,984
132,750
132,750
0
(139,110)
0
(139,110)
213,344
731,977
731,977
0
613,464
394,059
219,405
118,513
28,503
1,127
27,377
404,689
24,605
23,648
65,469
3,659
9,956
0
60,483

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

400
1,467
0
0

5,875
2,488
0
0

6,160
2,682
0
0

10,491
2,590
0
0

465,245
465,245
0
443,090
288,909
154,181
22,155
20,595
877
19,718
58,556
30,796
30,018
(29,236)
0
0
0
(13,991)

348,157
0
(1,067)
178,442

271,823
0
3,387
151,988

250,250
0
3,478
142,864

144,710
0
7,901
95,615

497,289
43,500
(29,236)
148,320

544,393
30,000
51,854
111,199

0.04
5.22
4.45
0.37
0.64
90.79
2.08
0.06
0.17
0.10

0.05
7.05
4.25
0.62
0.52
87.08
2.68
0.84
2.80
1.90

0.05
5.92
3.79
0.68
0.53
88.92
2.66
0.89
3.26
2.36

0.02
5.50
1.43
0.70
0.42
87.78
6.49
1.56
7.56
5.31

0.04
6.62
1.41
0.67
0.87
95.24
4.18
-4.35
-26.46
-9.11

0.27
3.36
3.87
1.10
1.23
83.81
2.23
9.60
38.39
12.57
6.21
7.51
3.77
8.94
0.13
4.66
15.59

10,248

19,498

18,628

20,658

13,616

30,202

28,183

25,095

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.41

3.39

3.50

3.26

3.40
0.03
-6.28
-0.02
-2.20
10.10

0.15
0.00
-0.08
17.49

1.37
0.00
0.26
14.09

1.29
0.00
0.26
14.36

2.30
0.00
0.60
6.54

Financial Statement Analysis of Non Financial Sector 2010

Azgard Nine Ltd.(Legler-Nafees Denim 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

2005

2006

2007

2008

5,668,395

23,784,946

24,244,939

8,687,158

6,913,340
5,594,458
264,284
73,937

26,418,548
20,013,878
535,228
3,771,068

27,786,186
20,482,735
729,590
3,762,204

11,275,747
8,653,622
538,506
33,536

4,915,508
46,283
2,123,665
1,034,669
760,796
950,095
4,491,017
3,532,298
958,719
2,718,407

7,062,660
1,132,967
2,903,999
1,520,389
49
1,505,256
9,935,874
7,877,741
2,058,133
11,249,254

9,451,173
630,082
2,532,100
2,366,279
882,995
3,039,717
10,686,285
5,429,188
5,257,097
13,441,452

18,684,515
82,074
4,034,103
0
11,540,498
3,027,840
10,353,720
7,302,259
3,051,461
6,674,514

2,393,670

7,712,953

10,404,259

3,962,461

324,737
3,374,479
1,737,308
868,654
868,654
1,637,171

3,536,301
9,662,478
3,788,839
3,127,101
661,738
5,873,639

3,037,193
9,568,375
3,788,823
3,127,135
661,688
5,779,552

2,712,053
10,343,439
3,827,119
3,827,119
0
6,516,320

4,662,202
791,645
3,870,557
3,523,721

6,624,764
2,492,848
4,131,916
4,731,960

12,936,942
7,504,488
5,432,454
8,362,558

11,827,025
11,724,806
102,219
8,238,448

1,138,481
363,755

1,892,804
563,152

4,574,384
841,802

3,588,577
1,089,025

(Thousand Rupees)
2009
2010
42,857,047
7,380,422
39,901,859
29,696,709
18,408
5,645,096
37
134,783
15,638,041
437,814
5,985,036
4,586,931
0
4,628,260
24,459,435
16,402,024
8,057,411
18,224,297
15,684,724
392,185
0
0
2,147,388
15,811,356
4,879,344
4,548,719
330,625
6,962,860
3,152,134
3,810,726
3,969,152

42,857,047
7,380,422
39,901,859
29,696,709
18,408
5,645,096
37
134,783
15,638,041
437,814
5,985,036
4,586,931
0
4,628,260
24,459,435
16,402,024
8,057,411
18,224,297
15,684,724
392,185
0
0
2,147,388
15,811,356
4,879,344
4,548,719
330,625
6,962,860
3,152,134
3,810,726
3,969,152
26,276,262
14,524,421
11,751,841
17,982,858
6,401,919
11,580,939
8,293,405
2,141,365
782,580
1,358,784
2,693,503
4,791,419
4,917,049
1,363,061
157,119
29,591
0
1,292,451

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

790,070
47,858
164,610
0

213,982
123,640
210,493
0

1,916,324
100,401
343,981
0

(1,457,675)
13,287,571
0
0

26,276,262
14,524,421
11,751,841
17,982,858
6,401,919
11,580,939
8,293,405
2,141,365
782,580
1,358,784
2,693,503
4,791,419
4,917,049
1,363,061
157,119
29,591
0
1,292,451

6,092,886
2,393,670
577,602
5,925,968

20,911,732
7,712,953
(120,151)
15,590,694

23,009,827
10,404,259
1,471,942
15,833,447

17,017,953
3,962,461
(14,745,246)
11,264,720

34,035,653
15,684,724
1,176,351
32,086,748

34,035,653
15,684,724
1,176,351
32,086,748

0.41
6.23
22.19
0.44
1.09
75.58
2.14
9.36
25.52
16.16
4.51
2.20

0.27
17.92
22.95
0.21
0.71
71.43
2.19
1.03
3.28
1.58
0.43
2.28

0.36
16.64
18.29
0.38
0.88
64.64
2.52
5.94
19.93
8.73
5.28
5.11

1.12
39.04
0.00
0.43
1.80
69.66
1.65
-4.77
-14.64
-7.28

0.21
18.23
17.46
0.45
0.64
68.44
2.70
3.17
10.42
5.34
40.75
4.39
1.28
5.19
0.03
2.65
34.76

0.21
18.23
17.46
0.45
0.64
68.44
2.70
2.33
8.62
4.00
40.75
4.39
1.28
5.19
0.03
2.65
34.76

363,755

563,152

841,802

1,089,025

290,509

1,187,224

2,152,438

4,617,259

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

30

2.93

16.95
0.00
8.54
38.85

3.23
0.00
0.29
30.90

14.81
0.00
5.81
30.60

-12.32
0.00
-38.53
27.03

Financial Statement Analysis of Non Financial Sector 2010

Babri Cotton 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

2005

2006

2007

2008

646,301

643,368

825,406

794,266

818,852
646,301
21,356
0

869,704
643,368
57,267
0

994,782
825,406
32,220
0

999,491
794,266
35,899
0

291,512
687
210,766
0
18,135
61,924
384,491
279,766
104,725
251,586

256,388
436
215,875
4,103
18,751
17,223
447,507
304,326
143,181
249,508

304,906
555
264,408
0
19,830
20,113
723,806
288,645
435,161
86,485

385,770
5,473
332,374
557
22,292
25,074
524,623
417,328
107,295
341,434

251,586
301,736
20,000
20,000
0
281,736

249,508
202,741
20,000
20,000
0
182,741

86,485
320,021
20,000
20,000
0
300,021

341,434
313,979
28,960
28,960
0
285,019

402,378
402,378
0
394,505

610,905
610,905
0
579,968

746,943
746,943
0
672,184

739,868
739,868
0
694,241

7,873
18,239

30,937
25,513

74,759
27,818

45,627
25,687

(Thousand Rupees)
2009
2010
1,014,836
9,344
1,218,926
1,000,084
34,429
0
2,182
3,226
349,881
536
321,233
0
0
28,112
526,995
397,829
129,166
332,019
303,314
0
0
20,271
8,434
505,703
28,960
28,960
0
27,268
19,440
7,828
449,475

1,027,619
223
1,257,551
1,005,891
33,751
0
19,144
2,361
349,792
1,035
322,492
0
0
26,265
404,356
314,078
90,278
341,391
266,280
0
0
21,202
53,909
631,664
28,960
28,960
0
158,136
19,440
138,696
444,568
1,195,591
1,195,591
0
920,569
620,110
300,459
275,022
43,833
2,615
41,218
139,387
98,774
98,436
154,897
5,978
0
4,344
175,450

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(16,440)
1,784
0
0

(52,254)
3,054
0
0

(14,309)
3,734
0
0

(44,157)
3,699
0
0

746,961
746,961
0
695,754
466,776
228,978
51,207
27,675
2,541
25,134
97,232
108,015
107,734
(104,001)
0
0
0
29,787

553,322
0
(18,224)
279,766

452,249
0
(55,308)
304,326

406,506
0
(18,043)
288,645

655,413
0
(47,856)
417,328

837,722
303,314
(104,001)
701,143

973,055
266,280
148,919
580,358

0.05
2.95
0.00
0.43
0.76
98.04
2.11
-2.19
-5.96
-3.81

0.05
9.12
0.67
0.68
0.57
94.94
3.44
-5.69
-20.72
-10.39

0.03
9.21
0.00
0.66
0.42
89.99
2.53
-1.41
-5.47
-3.33

0.05
9.08
0.08
0.63
0.74
93.83
2.76
-3.82
-13.93
-8.32

0.00
14.46
0.00
0.55
0.66
93.14
1.70
-8.17
-25.38
-13.93

0.00
8.26
0.00
0.87
0.87
77.00
1.18
11.30
27.24
17.11

18,239

25,513

27,818

25,687

11,869

55,730

68,823

67,162

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

31

1.91

2.83

2.82

2.23

2.33
0.03
-13.92
0.03
-35.91
174.62

3.71
2.57
12.96
0.24
51.42
218.12

-4.09
0.00
-9.11
150.87

-8.55
0.00
-27.65
101.37

-1.92
0.00
-9.02
160.01

-5.97
0.00
-16.52
108.42

Financial Statement Analysis of Non Financial Sector 2010

Bhanero 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

2005

2006

2007

2008

1,308,145

2,151,441

2,004,468

1,847,513

1,866,849
1,308,145
52,098
0

2,869,077
2,151,441
162,952
0

2,913,338
2,004,468
203,166
0

2,946,161
1,847,513
187,325
0

1,082,757
12,223
809,544
154,974
318
105,698
914,604
713,361
201,243
775,114

919,050
23,859
594,036
180,967
400
119,788
1,166,077
724,207
441,870
1,167,244

1,405,761
55,617
838,621
373,616
425
137,482
1,762,835
922,988
839,847
793,958

1,555,617
18,529
961,826
417,069
375
157,818
1,616,483
1,047,505
568,978
797,086

775,114
701,184
30,000
30,000
0
671,184

1,167,244
737,170
30,000
30,000
0
707,170

793,958
853,436
30,000
30,000
0
823,436

797,086
989,561
30,000
30,000
0
959,561

1,316,491
1,316,491
0
1,109,061

2,692,900
2,692,900
0
2,270,797

3,547,048
2,369,098
1,177,950
3,070,479

3,510,404
1,633,599
1,876,805
3,100,964

207,430
56,596

422,103
80,817

476,569
91,400

409,440
98,467

(Thousand Rupees)
2009
2010
1,767,663
2,578
3,002,510
1,724,335
176,981
0
375
40,374
1,366,387
22,666
799,754
443,989
0
99,978
1,339,149
1,104,299
234,850
810,184
517,333
89,286
0
45,777
157,789
984,716
30,000
30,000
0
954,716
900,000
54,716
0

1,660,535
66,895
3,002,444
1,573,155
164,211
0
63
20,422
1,517,201
36,211
951,780
387,230
0
141,980
1,418,425
1,151,616
266,809
358,759
89,184
100,000
0
52,780
116,794
1,400,553
30,000
30,000
0
1,370,553
1,300,000
70,553
0
4,737,286
648,366
4,088,920
3,899,119
2,625,010
1,274,108
838,167
187,904
52,048
135,856
321,062
231,441
194,403
427,511
55,019
60,000
0
475,670

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

102,746
6,282
15,000
0

173,464
20,932
7,500
0

185,609
17,735
0
0

99,967
18,082
6,000
0

3,781,557
2,773,421
1,008,136
3,285,300
2,282,843
1,002,456
496,257
109,599
44,710
64,890
277,188
289,788
258,895
99,624
16,382
6,000
0
435,451

1,476,298
0
81,464
713,361

1,904,414
0
145,032
724,207

1,647,394
0
167,874
922,988

1,786,647
0
75,885
1,047,505

1,794,900
517,333
77,242
1,621,632

1,759,312
89,184
312,492
1,240,800

0.18
3.70
11.77
0.55
1.18
84.24
2.41
5.49
15.69
8.96
6.43
1.63

0.18
6.85
6.72
0.88
0.79
84.33
3.17
6.35
24.12
10.26
20.34
4.53

0.24
5.67
10.53
1.04
0.80
86.56
3.00
5.73
23.34
10.45

0.35
7.66
11.74
1.21
1.02
86.88
2.18
3.05
10.09
5.56
13.87
4.73
1.38
2.63
0.20
27.75
328.24

0.30
4.89
8.17
1.49
1.07
82.31
1.27
13.55
35.85
24.06
6.21
4.98
3.20
9.02
0.27
124.16
466.85

56,596

80,817

91,400

98,467

48,703

184,391

200,980

220,877

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

4.23

0.27
6.29
11.88
1.03
0.96
88.34
2.44
2.93
10.85
5.82
13.65
3.65

7.80
0.00
32.15
233.73

6.44
0.00
50.84
245.72

5.23
0.00
55.96
284.48

2.85
0.00
27.30
329.85

Financial Statement Analysis of Non Financial Sector 2010

Bilal 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

2005

2006

2007

2008

527,647

554,381

546,134

727,389

544,603
527,647
16,934
0

594,282
554,381
23,098
0

587,511
546,134
26,221
0

758,989
727,389
29,358
0

141,873
8,753
68,892
7,636
0
56,592
334,093
184,578
149,515
112,957

184,738
3,876
111,997
10,023
0
58,842
470,587
235,943
234,644
63,486

230,316
28,316
114,720
5,341
0
81,939
384,518
85,650
298,868
288,392

290,821
3,465
168,200
34,614
0
84,542
468,390
191,906
276,484
354,736

112,957
222,470
141,000
141,000
0
81,470

63,486
205,046
141,000
141,000
0
64,046

288,392
103,540
141,000
141,000
0
(37,460)

354,736
195,084
141,000
141,000
0
54,084

507,087
470,318
36,769
467,485

764,512
658,986
105,526
717,618

784,998
669,247
115,751
785,345

905,213
711,885
193,328
865,938

39,602
16,646

46,894
23,539

(347)
27,819

39,275
43,592

(Thousand Rupees)
2009
2010
725,200
0
785,441
721,687
33,721
0
0
3,513
234,693
1,923
140,027
35,566
0
57,177
360,427
250,653
109,774
524,334
450,782
38,500
0
7,652
27,400
75,132
141,000
141,000
0
(229,930)
0
(229,930)
164,062

744,019
0
827,011
740,645
33,341
0
0
3,374
263,264
17,179
140,135
38,556
0
67,394
317,392
241,717
75,675
590,155
525,717
38,500
0
10,140
15,799
99,735
141,000
141,000
0
(199,729)
0
(199,729)
158,464
1,309,870
1,232,212
77,658
1,196,175
925,844
270,331
113,695
71,996
14,558
57,438
97,764
62,358
61,264
(14,445)
6,549
0
0
59,464

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

9,643
2,262
0
0

16,425
4,096
0
0

(73,965)
4,312
0
0

(60,869)
36,511
0
0

945,592
887,181
58,411
934,752
712,320
222,432
10,840
37,179
13,299
23,880
8,552
66,582
64,394
(91,967)
584
0
0
(90,329)

335,427
0
7,381
184,578

268,532
0
12,329
235,943

391,932
0
(78,277)
85,650

549,820
0
(97,380)
191,906

599,466
450,782
(92,551)
701,435

689,890
525,717
(20,994)
767,433

0.05
2.85
1.51
0.76
0.42
92.19
2.01
1.62
5.55
3.81

0.03
5.19
1.31
1.03
0.39
93.87
2.60
2.33
7.68
5.44

0.09
5.91
0.68
1.01
0.60
100.04
6.50
-9.76
-47.94
-22.40

0.08
6.34
3.82
0.89
0.62
95.66
4.22
-6.78
-40.77
-12.93

0.10
7.04
3.76
0.99
0.65
98.85
11.78
-9.30
-68.07
-16.00

0.18
4.76
2.94
1.30
0.83
91.32
9.10
-1.47
-16.52
-2.24

16,646

23,539

27,819

43,592

14,473

39,699

46,390

57,389

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

7.36

6.83

6.84

5.38

6.75
-0.43
-9.73
-0.10
-6.56
5.33

9.35
0.76
-1.10
0.07
-1.49
7.07

1.90
0.00
0.52
15.78

2.15
0.00
0.87
14.54

-9.42
0.00
-5.55
7.34

-6.72
0.00
-6.91
13.84

Financial Statement Analysis of Non Financial Sector 2010

Blessed 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

2005

2006

2007

2008

1,079,065

1,658,154

1,640,013

1,624,083

1,512,231
1,079,065
59,834
0

2,234,273
1,658,154
146,417
0

2,388,468
1,640,013
173,801
0

2,535,503
1,624,083
173,375
0

686,393
49,175
300,784
241,244
0
95,190
660,439
505,051
155,388
613,297

782,472
14,071
489,630
139,753
0
139,018
945,704
784,198
161,506
871,921

924,834
40,833
532,383
244,751
0
106,867
1,327,328
718,054
609,274
533,903

1,171,036
33,895
846,297
178,208
0
112,636
1,365,871
921,037
444,834
587,718

613,297
491,722
64,320
64,320
0
427,402

871,921
623,001
64,320
64,320
0
558,681

533,903
703,616
64,320
64,320
0
639,296

587,718
841,530
64,320
64,320
0
777,210

1,652,743
276,582
1,376,161
1,449,853

2,948,008
430,542
2,517,466
2,531,198

2,703,735
1,457,233
1,246,502
2,308,072

2,994,329
1,724,239
1,270,090
2,628,606

202,890
50,345

416,810
95,235

395,663
91,160

365,723
100,937

(Thousand Rupees)
2009
2010
1,576,840
0
2,648,347
1,565,527
168,880
0
0
11,314
880,145
12,809
670,208
74,092
0
123,036
962,322
772,167
190,155
667,083
495,842
89,286
0
32,621
49,335
827,581
64,320
64,320
0
763,261
750,000
13,261
0

1,636,161
217,380
2,599,938
1,405,916
160,269
0
0
12,865
773,353
30,781
525,224
87,597
0
129,751
514,871
311,172
203,699
648,362
504,014
86,708
0
39,419
18,221
1,246,280
64,320
64,320
0
1,181,960
1,100,000
81,960
0
4,054,212
694,014
3,360,198
3,252,897
2,356,379
896,518
801,314
197,228
111,394
85,834
263,162
174,156
145,826
429,930
40,082
32,160
0
703,544

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

103,943
16,418
4,824
0

170,517
40,698
4,824
0

125,130
18,793
4,824
0

115,680
20,178
6,432
0

3,295,075
1,385,948
1,909,126
2,787,605
1,805,782
981,824
507,469
152,194
101,180
51,013
204,946
257,167
231,321
98,108
24,714
4,824
0
575,953

1,105,019
0
82,701
505,051

1,494,922
0
124,995
784,198

1,237,519
0
101,513
718,054

1,429,248
0
89,070
921,037

1,494,664
495,842
68,570
1,268,009

1,894,642
504,014
357,688
815,187

0.44
2.94
14.60
0.94
1.04
87.72
2.59
6.70
23.14
10.26
18.14
5.49

0.16
5.14
4.74
1.21
0.83
85.86
2.92
8.11
30.59
13.12
26.91
6.02

0.22
6.66
9.05
1.05
0.70
85.37
2.65
5.00
18.86
9.16
22.04
5.08

0.16
5.32
5.95
1.07
0.86
87.79
2.32
4.32
14.97
8.68
14.85
3.54

0.09
7.80
2.25
1.34
0.91
84.60
1.97
3.74
11.76
6.71
15.21
4.92
1.42
2.98
0.35
11.41
128.67

0.23
4.30
2.16
1.68
1.50
80.24
0.93
17.67
41.46
25.37
12.12
7.72
3.95
10.60
0.60
60.61
193.76

50,345

95,235

91,160

100,937

48,602

151,466

179,969

159,348

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

34

6.29
0.00
13.61
76.45

5.78
0.00
20.18
96.86

4.63
0.00
16.53
109.39

3.86
0.00
14.85
130.83

Financial Statement Analysis of Non Financial Sector 2010

Brothers 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

2005

2006

2007

2008

200,892

192,075

178,059

141,753

485,133
200,892
16,033
0

482,524
192,075
21,169
0

487,476
178,059
19,297
0

438,493
141,753
8,480
0

369,733
6,429
75,869
3,473
0
283,962
348,544
112,418
236,126
71,975

365,507
3,532
81,236
3,411
0
277,328
373,806
153,012
220,794
53,409

330,157
2,627
44,936
791
0
281,803
428,371
76,193
352,178
42,673

279,552
765
0
44
0
278,743
389,826
48,834
340,992
37,036

71,975
150,106
98,010
98,010
0
52,096

53,409
130,367
98,010
98,010
0
32,357

42,673
37,172
98,010
98,010
0
(60,838)

37,036
(5,557)
98,010
98,010
0
(103,567)

343,453
338,275
5,178
326,909

459,802
456,099
3,703
458,218

484,041
450,742
33,299
502,553

166,647
166,647
0
176,242

16,544
11,391

1,584
17,410

(18,512)
18,839

(9,595)
11,734

(Thousand Rupees)
2009
2010
394,870
0
435,564
132,789
8,394
0
0
262,082
15,377
82
0
44
0
15,251
64,453
41,658
22,795
381,259
3,232
359,929
0
0
18,098
(35,466)
98,010
98,010
0
(165,803)
0
(165,803)
32,327

387,080
0
435,564
124,999
7,790
0
0
262,082
15,136
27
0
44
0
15,065
22,011
6,385
15,626
430,386
0
411,942
0
0
18,444
(50,181)
98,010
98,010
0
(178,681)
0
(178,681)
30,490
0
0
0
0
0
0
0
16,215
0
16,215
5,025
4,057
3,411
(20,272)
0
0
0
(13,563)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(7,901)
1,722
0
0

(35,681)
3,203
0
0

(61,193)
2,422
0
0

(32,267)
835
0
0

0
0
0
0
0
0
0
20,920
0
20,920
7,444
10,114
9,521
(29,908)
0
0
0
(21,458)

222,081
0
(9,623)
112,418

183,776
0
(38,884)
153,012

79,845
0
(63,615)
76,193

31,479
0
(33,102)
48,834

345,794
3,232
(29,908)
44,890

380,205
0
(20,272)
6,385

0.03
4.17
1.01
0.60
1.06
95.18
2.80
-1.36
-5.16
-3.71

0.02
5.96
0.74
0.82
0.98
99.66
3.28
-6.33
-25.44
-17.58

0.01
5.11
0.16
0.95
0.77
103.82
12.67
-11.48
-73.05
-46.42

0.00
6.84
0.03
0.40
0.72
105.76
-76.82
-6.94
-204.12
-57.97

0.00

0.00

0.00
0.24

0.00
0.69

11,391

17,410

18,839

11,734

14,317

27,410

24,735

11,396

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

4.53

5.66

10.77

-2.30
0.00
-0.98
15.32

-7.76
0.00
-3.97
13.30

-12.64
0.00
-6.49
3.79

-19.36
0.00
-3.38
-0.57

-12.57
-7.19
145.81
-15.85

-9.02
-4.99
47.34
-5.58

-2.14

-4.94

-0.05
-3.05
-3.62

-0.03
-2.07
-5.12

Financial Statement Analysis of Non Financial Sector 2010

Chakwal 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

2005

2006

2007

2008

561,526

715,739

752,625

785,734

1,005,010
561,526
25,340
0

1,189,344
715,739
37,203
0

1,265,193
752,625
46,531
0

1,337,814
785,734
47,483
0

255,548
2,083
155,566
22,747
0
75,152
783,400
182,983
600,417
30,236

261,654
35,846
120,820
21,190
0
83,798
373,341
155,916
217,425
402,569

333,104
39,686
150,772
19,535
0
123,111
819,891
205,213
614,678
52,176

372,529
34,387
206,266
43,205
0
88,671
794,233
225,526
568,707
149,431

30,236
3,438
113,256
113,256
0
(109,818)

402,569
201,483
400,000
400,000
0
(198,517)

52,176
213,662
400,000
400,000
0
(186,338)

149,431
214,599
400,000
400,000
0
(185,401)

637,523
612,470
25,053
594,086

711,623
92,783
618,840
683,050

853,113
659,518
193,595
783,289

875,542
775,808
99,734
809,061

43,437
21,677

28,573
26,682

69,824
30,947

66,481
62,948

(Thousand Rupees)
2009
2010
786,928
0
1,337,814
774,773
48,597
0
0
12,156
345,835
32,437
210,369
44,946
0
58,083
458,458
275,276
183,182
505,417
51,338
371,256
0
8,992
73,831
168,888
400,000
400,000
0
(305,413)
0
(305,413)
74,300

796,322
0
1,379,939
787,788
41,287
0
0
8,534
352,747
32,310
169,279
55,334
0
95,824
412,551
201,722
210,828
509,211
42,000
371,256
0
9,077
86,878
227,307
400,000
400,000
0
(240,483)
0
(240,483)
67,790
1,352,246
1,048,025
304,221
1,188,035
846,183
341,852
164,211
43,863
13,650
30,214
143,463
46,385
41,888
79,601
8,134
20,000
0
140,768

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

6,212
2,842
0
0

(20,975)
3,527
0
0

5,790
48,264
0
0

(22,905)
4,378
0
0

989,845
856,916
132,929
950,275
649,737
300,538
39,571
35,529
8,663
26,867
93,487
54,718
47,476
(47,413)
2,095
0
0
24,856

33,674
0
3,370
182,983

604,052
0
(24,502)
155,916

265,838
0
(42,474)
205,213

364,030
0
(27,283)
225,526

674,305
51,338
(49,508)
326,614

736,518
42,000
51,466
243,722

0.03
3.07
3.57
0.78
0.33
93.19
236.66
0.69
-28.15
5.14

0.15
4.25
2.98
0.73
0.70
95.98
3.85
-2.34
-20.47
-6.58

0.07
4.14
2.29
0.79
0.41
91.82
4.08
0.56
2.79
1.33

0.10
3.93
4.93
0.76
0.47
92.41
4.40
-2.04
-10.70
-7.27

0.17
5.53
4.54
0.87
0.75
96.00
5.71
-4.14
-24.73
-9.13

0.21
3.43
4.09
1.18
0.86
87.86
4.06
6.98
40.18
11.28
3.57
7.99
2.90
5.89
0.15
1.79
5.68

21,677

26,682

30,947

62,948

19,591

30,220

35,315

34,372

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

4.10

5.89

5.66

4.24

4.71
0.00
-4.79
0.03
-1.24
4.22

0.97
0.00
0.30
0.30

-2.95
0.00
-0.61
5.04

0.68
0.00
-1.06
5.34

-2.62
0.00
-0.68
5.36

Financial Statement Analysis of Non Financial Sector 2010

Chenab Ltd.
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

30,855

30,817

7,455,967

7,613,039

41,623
30,855
47
0

41,645
30,817
60
0

7,429,197
7,455,967
266,825
0

8,144,807
7,613,039
272,521
0

3,027
253
0
0
0
2,774
40,944
0
40,944
0

3,096
135
0
0
2,794
167
40,138
0
40,138
0

7,526,891
65,247
3,997,183
0
0
3,464,461
8,710,025
5,473,669
3,236,356
2,352,821

8,674,064
59,858
4,442,600
2,429,041
0
1,742,565
10,240,311
8,004,161
2,236,150
2,296,571

0
(7,062)
7,000
7,000
0
(14,062)

0
(6,225)
7,000
7,000
0
(13,225)

2,352,821
3,920,012
1,950,000
1,150,000
800,000
1,970,012

2,296,571
3,750,221
1,950,000
1,150,000
800,000
1,800,221

0
0
0
0

0
0
0
0

8,338,392
621,909
7,716,483
6,791,142

8,675,256
1,100,855
7,574,401
6,995,951

0
4,852

0
4,884

1,547,250
550,884

1,679,305
578,327

(Thousand Rupees)
2009
2010
7,414,967
4,965
7,566,844
7,389,014
283,376
0
0
20,988
9,526,290
63,352
4,475,235
3,125,515
0
1,862,188
10,373,126
7,812,981
2,560,145
2,914,573
2,420,480
296,653
0
197,440
0
3,653,558
1,950,000
1,150,000
800,000
543,877
526,410
17,467
1,159,681

11,875,197
0
12,336,481
11,855,461
282,209
0
0
19,736
7,511,121
17,420
2,491,389
3,302,962
0
1,699,350
11,135,300
8,394,643
2,740,657
2,484,936
2,025,846
296,653
0
162,437
0
5,766,082
1,950,000
1,150,000
800,000
(1,393,122)
526,410
(1,919,532)
5,209,204
8,857,796
866,606
7,991,190
9,055,287
4,701,214
4,354,073
(197,491)
569,022
363,688
205,334
783,588
1,308,784
1,222,883
(1,939,628)
88,388
0
0
379,131

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,266
800
0
0

862
312
0
0

160,399
85,446
74,000
0

(15,294)
82,391
0
0

9,091,379
997,656
8,093,723
7,107,004
4,118,310
2,988,694
1,984,375
511,786
307,434
204,352
800,405
1,487,708
1,358,881
(13,728)
82,933
0
0
(143,040)

(7,062)
0
1,466
0

(6,225)
0
550
0

6,272,833
0
953
5,473,669

6,046,792
0
(97,685)
8,004,161

6,568,131
2,420,480
(96,661)
10,233,461

8,251,017
2,025,846
(2,028,016)
10,420,488

0.01

0.07

0.00
0.07

0.00
0.08

0.24
12.96
28.00
0.53
0.85
80.64
3.34
-0.10
-0.40
-0.25

0.31
16.36
34.38
0.54
0.92
78.17
3.64
-0.08
-0.37
-0.22

0.30
14.78
37.29
0.46
0.67
102.23
2.36
-10.68
-41.18
-26.18

4,852

4,884

550,884

578,327

838,856

1,124,591

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

-5.80
6.58
-29.07
-29.07

-6.45
2.54
-12.98
-12.98

0.00
2.09
-10.09

0.00
0.79
-8.89

0.01
10.06
0.00
0.56
0.86
81.44
2.82
2.14
8.20
5.12
1.01
2.09

1.95

2.03
0.99
-0.15
-0.01
-0.84
31.77

3.56
-0.59
-21.90
0.03
-17.63
50.14

1.92
0.00
0.65
34.09

-0.18
0.00
-0.85
32.61

Financial Statement Analysis of Non Financial Sector 2010

Colony Mills Ltd. (Colony 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

2005

2006

2007

2008

3,245,589

4,953,194

5,824,218

7,526,926

3,826,913
3,245,589
141,761
0

5,702,584
4,953,194
64,736
0

6,493,940
5,824,218
203,706
0

7,405,681
7,526,926
242,460
0

2,075,396
65,353
1,020,762
192,852
149,819
646,610
2,058,833
1,007,942
1,050,891
1,934,885

2,837,233
4,420
1,298,778
166,086
814,662
553,287
2,798,633
2,158,288
640,345
2,248,641

3,304,725
4,414
1,392,451
305,087
4,526
1,598,247
3,269,833
1,592,204
1,677,629
2,710,048

5,124,297
32,067
1,960,293
331,930
787,243
2,012,764
5,106,304
2,264,789
2,841,515
4,638,568

1,934,885
1,327,267
250,000
250,000
0
1,077,267

2,248,641
2,743,153
2,441,763
2,441,763
0
301,390

2,710,048
3,149,062
2,441,763
2,441,763
0
707,299

4,638,568
2,906,351
2,441,763
2,441,763
0
464,588

3,693,527
2,828,393
865,134
3,323,389

2,063,248
1,318,672
744,576
1,783,472

5,799,875
3,391,796
2,408,079
5,061,725

7,020,730
7,020,730
0
6,026,505

370,138
105,470

279,776
67,055

738,150
207,464

994,225
319,450

(Thousand Rupees)
2009
2010
9,427,936
589,111
9,312,371
7,847,784
309,788
0
972,465
18,576
4,679,809
26,566
3,295,925
543,330
528
813,460
6,198,167
3,904,339
2,293,828
5,395,099
5,228,992
100,000
0
39,580
26,527
2,514,479
2,441,763
2,441,763
0
72,716
0
72,716
0

9,145,149
692,834
9,814,082
8,001,429
348,068
0
432,310
18,576
3,579,651
18,705
2,683,293
363,407
452
513,794
4,335,167
3,140,171
1,194,996
5,611,961
5,345,379
100,000
0
32,219
134,363
2,777,672
2,441,763
2,441,763
0
335,909
0
335,909
0
10,015,687
6,262,714
3,752,973
8,156,347
6,648,142
1,508,205
1,859,340
540,881
256,633
284,248
579,352
1,135,379
1,048,120
332,847
68,913
0
0
175,264

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

180,948
24,539
0
0

119,331
14,414
0
0

458,268
28,999
0
0

363,373
35,907
524,800
0

7,526,905
4,571,078
2,955,827
6,636,018
5,526,274
1,109,744
890,887
532,159
210,558
321,601
435,823
1,099,274
1,040,784
(405,784)
29,429
0
0
536,414

3,262,152
0
156,409
1,007,942

4,991,794
0
104,917
2,158,288

5,859,110
0
429,269
1,592,204

7,544,919
0
(197,334)
2,264,789

7,909,578
5,228,992
(435,213)
9,133,331

8,389,633
5,345,379
263,934
8,485,550

0.20
3.50
5.22
0.69
1.01
89.98
3.01
3.74
16.69
6.41

0.35
7.48
8.05
0.26
1.01
86.44
1.84
1.82
5.86
2.89

0.10
6.41
5.26
0.64
1.01
87.27
1.90
5.42
15.56
8.45

0.23
7.00
4.73
0.55
1.00
85.84
3.35
3.34
12.00
5.42
0.62
3.58

0.09
14.60
7.22
0.53
0.76
88.16
4.61
-3.03
-14.97
-5.25

0.09
11.34
3.63
0.79
0.83
81.44
3.58
2.48
12.58
4.08

105,470

67,055

207,464

319,450

129,235

154,419

371,807

491,569

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

3.62

1.59

4.17

4.90
0.00
6.26
53.09

5.78
0.00
0.43
11.23

7.90
0.00
1.76
12.90

5.18
0.00
1.34
11.90

2.28
0.61
-5.39
0.05
-1.78
10.30

3.73
1.32
3.32
0.02
1.08
11.38

Financial Statement Analysis of Non Financial Sector 2010

Crescent Fibers Ltd. (Crescent Boards Ltd.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

318,319

14,410

0
0
0
0

875,695
318,319
32,760
0

850,141
12,479
31,263
1,931

0
0
0
0
0
0
0
0
0
0

456,125
2,064
109,757
116,676
2,705
224,923
393,963
162,411
231,552
108,175

697,413
1,545
153,456
91,110
2,673
448,629
414,642
195,067
219,575
67,601

0
0
0
0
0
0

108,175
272,306
118,265
118,265
0
154,041

67,601
229,580
124,179
124,179
0
105,401

0
0
0
0

1,189,692
1,189,692
0
1,073,112

1,246,845
1,241,818
5,027
1,160,208

0
0

116,580
48,978

86,637
42,273

(Thousand Rupees)
2009
2010
292,458
884
856,482
282,340
29,456
1,545
2,298
5,391
342,589
29,898
101,269
118,979
41,351
51,092
386,291
207,096
179,195
68,532
30,247
8,675
0
0
29,610
180,225
124,179
124,179
0
56,047
0
56,047
0

294,725
9,875
873,580
274,158
28,151
1,159
2,483
7,051
446,103
48,929
158,475
150,484
35,385
52,829
372,167
170,807
201,360
81,982
16,527
13,675
0
0
51,780
286,678
124,179
124,179
0
162,499
0
162,499
0
1,769,385
1,763,107
6,278
1,512,825
1,182,801
330,024
256,560
71,673
7,160
64,513
147,467
42,049
35,371
154,042
41,980
12,418
0
92,623

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

0
0
0
0

39,286
5,948
0
5,913

25,224
6,234
62,090
0

1,427,453
1,426,250
1,203
1,318,433
976,520
341,913
109,020
50,676
5,888
44,788
121,042
54,524
42,378
13,233
879
0
0
57,035

0
0
0
0

380,481
0
33,338
162,411

297,181
0
(43,100)
195,067

248,757
30,247
12,354
237,342

368,660
16,527
99,644
187,334

0.31
3.09
9.81
1.54
1.16
90.20
1.84
10.15
28.85
20.65

0.23
2.57
7.31
1.75
1.68
93.05
2.10
3.39
10.05
7.44
0.31
8.13

0.49
3.82
8.34
2.25
0.89
92.36
2.52
1.96
6.46
4.85

0.63
2.38
8.50
2.39
1.20
85.50
1.58
22.39
65.98
49.90
9.02
11.17
5.36
8.71
0.20
9.02
23.09

48,978

42,273

36,774

32,038

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

39

10.84

3.30
0.00
2.82
23.03

2.02
0.00
1.53
18.49

14.10
1.31
0.93
0.13
0.99
14.51

Financial Statement Analysis of Non Financial Sector 2010

D.M. 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

2005

2006

2007

2008

532,163

599,756

980,765

963,259

771,750
532,163
11,072
0

861,245
599,756
16,965
0

0
980,765
0
0

1,245,930
963,259
28,644
0

138,558
18,612
65,509
3,902
376
50,159
163,536
84,306
79,230
107,151

369,576
3,609
176,180
3,294
376
186,117
512,989
196,540
316,449
175,764

290,409
1,309
155,973
17,456
376
115,295
537,930
150,872
387,058
150,791

208,753
2,416
96,291
4,585
1,650
103,811
389,426
146,741
242,685
224,268

107,151
400,034
30,524
30,524
0
369,510

175,764
280,579
30,524
30,524
0
250,055

150,791
582,453
30,524
30,524
0
551,929

224,268
558,318
30,524
30,524
0
527,794

456,258
456,258
0
413,077

768,053
768,053
0
675,943

805,368
779,253
26,115
731,477

867,583
842,329
25,254
801,391

43,181
11,426

92,110
27,765

73,891
42,982

66,192
30,814

(Thousand Rupees)
2009
2010
1,012,050
0
1,245,304
936,515
26,992
0
1,139
74,397
122,588
590
90,964
3,452
643
26,939
393,213
171,582
221,631
247,308
138,798
0
0
13,636
94,875
494,116
30,524
30,524
0
(116,358)
0
(116,358)
579,950

1,006,042
0
1,235,665
910,723
25,356
0
1,955
93,364
79,355
6,287
34,937
7,237
0
30,894
374,293
195,287
179,006
199,224
89,624
0
0
12,354
97,246
511,880
30,524
30,524
0
(92,306)
0
(92,306)
573,662
982,345
982,345
0
903,849
636,741
267,108
78,496
27,837
2,161
25,676
79,063
43,870
43,259
15,784
4,912
0
0
57,292

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

20,033
2,279
1,287
0

33,730
3,854
0
0

(23,394)
4,543
0
0

(17,170)
4,338
0
0

549,766
549,766
0
558,424
402,101
156,323
(8,658)
23,008
1,410
21,598
49,178
49,957
47,824
(72,446)
8
0
0
6,127

507,185
0
16,467
84,306

456,343
0
29,876
196,540

733,244
0
(27,937)
150,872

782,586
0
(21,508)
146,741

741,424
138,798
(72,454)
310,380

711,104
89,624
10,872
284,911

0.14
2.70
0.86
0.68
0.85
90.54
0.68
2.98
5.43
4.32
13.79
6.96

0.01
4.29
0.43
0.79
0.72
88.01
2.45
4.11
9.91
7.00

0.04
7.12
2.17
0.63
0.54
90.83
1.18
-2.09
-5.42
-3.93

0.02
6.27
0.53
0.74
0.54
92.37
1.10
-1.41
-3.01
-2.27

0.01
9.09
0.63
0.48
0.31
101.57
1.30
-6.28
-13.77
-9.51

0.04
4.47
0.74
0.91
0.21
92.01
1.12
1.42
3.14
2.17

11,426

27,765

42,982

30,814

12,302

32,938

57,355

54,365

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

40

4.36

5.16

9.01

6.04
-0.51
-13.18
0.01
-23.74
161.88

28.12
1.36
1.61
0.10
3.56
167.70

4.39
0.00
5.82
131.06

4.39
0.00
9.79
91.92

-2.90
0.00
-9.15
190.82

-1.98
0.00
-7.05
182.91

Financial Statement Analysis of Non Financial Sector 2010

D.S. Industries Limited

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

783,304
40,994
652,875
610,505
56,171
0
126,692
5,113
54,877
2,547
23,209
23,351
594
5,176
641,746
381,186
260,560
352,646
261,312
0
0
4,371
86,963
(156,211)
600,000
600,000
0
(898,622)
0
(898,622)
142,411

717,586
0
698,657
596,566
59,721
0
101,947
19,072
122,466
11,249
27,414
46,101
229
37,473
746,862
411,241
335,621
272,782
192,500
0
0
3,825
76,457
(179,592)
600,000
600,000
0
(909,633)
0
(909,633)
130,041

653,736
653,736
0
652,940
404,793
248,147
796
513,541
1,245
512,296
61,173
130,200
129,067
(988,074)
0
0
0
150,806

913,016
909,352
3,665
803,135
513,332
289,803
109,881
26,034
6,014
20,020
75,627
88,072
87,538
(28,637)
5,251
0
0
66,206

196,435
261,312
(988,074)
642,498

93,190
192,500
(33,888)
603,741

0.04
19.92
3.57
0.78
0.09
99.88
-6.37
-117.88
632.53
-503.00

0.08
9.65
5.05
1.09
0.16
87.97
-5.68
-3.41
17.06
-19.77

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

28.17
-6.66
-151.14
0.15
-16.47
-2.60

33.30
0.67
-3.14
0.06
-0.56
-2.99

Financial Statement Analysis of Non Financial Sector 2010

Dar Es Salaam 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

2005

2006

2007

2008

490,882

475,956

656,178

613,434

597,947
490,882
15,204
0

740,830
475,956
43,555
0

746,150
656,178
40,458
0

967,963
612,994
58,894
440

271,315
30,104
136,856
46,523
0
57,832
357,422
303,130
54,292
181,760

217,859
1,080
129,324
52,268
0
35,187
253,539
204,509
49,030
234,322

295,595
3,171
115,532
126,445
0
50,447
472,836
310,271
162,565
174,155

324,000
4,784
188,012
74,931
0
56,273
537,894
399,576
138,318
191,191

181,760
223,015
80,000
80,000
0
143,015

234,322
205,954
80,000
80,000
0
125,954

174,155
304,782
80,000
80,000
0
224,782

191,191
208,349
80,000
80,000
0
128,349

475,647
182,123
293,524
409,413

698,469
411,423
287,046
622,020

779,169
410,368
368,801
716,686

730,695
454,269
276,426
730,207

66,234
30,649

76,449
40,252

62,483
38,598

488
40,410

(Thousand Rupees)
2009
2010
568,101
1,285
967,140
560,702
53,917
352
0
5,762
184,652
1,478
53,389
18,389
0
111,396
432,672
331,368
101,305
215,378
120,557
80,240
0
3,340
11,242
104,702
80,000
80,000
0
(213,005)
0
(213,005)
237,708

884,288
0
1,030,712
882,081
53,937
281
0
1,926
196,790
5,593
67,381
16,801
0
107,016
432,492
259,821
172,670
243,600
134,497
80,240
0
4,910
23,954
404,986
80,000
80,000
0
(181,850)
0
(181,850)
506,836
1,083,860
899,512
184,348
972,518
751,074
221,444
111,342
47,705
7,550
40,155
76,871
55,637
51,012
9,157
6,390
0
0
120,555

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

15,232
4,250
0
0

(19,465)
4,515
0
0

(36,570)
5,495
0
0

(104,766)
3,674
0
0

850,027
707,168
142,859
848,279
614,433
233,846
1,748
50,506
6,757
43,749
72,926
79,489
72,455
(128,220)
1,454
0
0
79,592

404,775
0
10,982
303,130

440,276
0
(23,980)
204,509

478,937
0
(42,065)
310,271

399,540
0
(108,440)
399,576

320,081
120,557
(129,674)
451,925

648,586
134,497
2,767
394,318

0.21
4.40
9.78
0.62
0.76
86.07
2.42
2.32
10.65
4.72

0.21
8.11
7.48
1.01
0.86
89.05
2.37
-2.67
-9.08
-4.61

0.27
7.82
16.23
0.82
0.63
91.98
2.12
-4.44
-14.32
-7.96

0.15
9.15
10.25
0.78
0.60
99.93
3.50
-11.09
-40.83
-23.85

0.05
9.35
2.16
1.13
0.43
99.79
6.19
-15.17
-81.92
-35.64

0.05
5.13
1.55
1.00
0.46
89.73
1.67
1.00
3.59
1.89

30,649

40,252

38,598

40,410

20,943

56,680

60,921

66,871

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

42

3.48

5.40

6.74

3.89

15.92
-0.77
-15.08
0.12
-16.21
13.09

16.09
1.18
0.84
0.18
0.35
50.62

3.20
0.00
1.37
27.88

-2.79
0.00
-3.00
25.74

-4.69
0.00
-5.26
38.10

-14.34
0.00
-13.56
26.04

Financial Statement Analysis of Non Financial Sector 2010

Data 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

2005

2006

2007

2008

281,911

322,477

291,987

75,179

326,324
159,312
12,883
122,599

522,552
322,477
33,451
0

519,926
291,987
29,838
0

129,583
75,179
178,119
0

193,454
2,304
169,576
10,992
0
10,582
356,064
151,793
204,271
55,600

152,166
2,126
70,658
8,464
0
70,918
286,145
63,697
222,448
50,718

114,263
784
47,431
0
0
66,048
269,711
23,222
246,489
65,592

104,865
715
0
9,685
0
94,465
153,153
0
153,153
0

55,600
63,701
99,096
99,096
0
(35,395)

50,718
137,780
99,096
99,096
0
38,684

65,592
70,947
99,096
99,096
0
(28,149)

0
26,891
99,096
99,096
0
(72,205)

241,233
241,233
0
279,771

551,120
551,120
0
555,883

98,741
98,741
0
151,985

0
0
0
0

(38,538)
8,737

(4,763)
10,499

(53,244)
3,084

0
1,959

(Thousand Rupees)
2009
2010
161,400
0
129,583
70,092
5,088
0
0
91,308
12,283
947
0
8,175
0
3,161
113,998
0
113,998
39,222
0
39,222
0
0
0
20,462
99,096
99,096
0
(108,950)
0
(108,950)
30,316

156,838
0
129,583
65,531
4,561
0
0
91,308
11,234
1,073
0
7,000
0
3,161
114,225
0
114,225
39,222
0
39,222
0
0
0
14,625
99,096
99,096
0
(111,880)
0
(111,880)
27,409
0
0
0
0
0
0
0
1,416
0
1,416
665
55
0
(5,837)
0
0
0
126

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(65,416)
1,203
0
0

(41,687)
2,746
0
0

(66,341)
494
0
0

(12,168)
39,394
0
0

0
0
0
0
0
0
0
1,528
0
1,528
785
57
0
(6,431)
0
0
0
232

119,301
0
(66,619)
151,793

188,498
0
(44,433)
63,697

136,539
0
(66,835)
23,222

26,891
0
(51,562)
0

59,684
0
(6,431)
0

53,847
0
(5,837)
0

0.04
7.52
4.56
0.51
0.54
115.98
6.46
-14.68
-77.08
-43.88

0.04
4.86
1.54
1.16
0.53
100.86
2.44
-8.78
-41.38
-27.09

0.00
10.36
0.00
0.24
0.42
153.92
4.73
-15.06
-63.57
-40.82

0.07

0.08

0.07

0.00
0.68

0.00
0.11

0.00
0.10

8,737

10,499

3,084

1,959

18,141

26,785

10,227

3,910

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

43

1.42

7.80

2.08

-27.12
0.00
-6.72
6.43

-7.56
0.00
-4.48
13.90

-67.19
0.00
-6.74
7.16

5.70
-4.15
-24.87
-14.89

7.49
-3.64
-27.16
-14.86

10.49
-3.42
-33.27
-10.28

0.00
-5.20
2.71

0.00
-0.65
2.06

0.00
-0.59
1.48

Financial Statement Analysis of Non Financial Sector 2010

Dawood Lawrencepur Ltd. (Dawod Coton Mills)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

745,920

801,608

801,608

76,286

1,711,989
745,920
38,704
0

1,783,458
801,608
77,094
0

1,783,458
801,608
77,094
0

464,602
76,286
24,234
0

4,077,161
57,686
1,013,343
285,444
2,511,070
209,618
874,696
698,704
175,992
87,420

6,127,370
34,441
827,505
327,523
4,738,279
199,622
711,335
505,548
205,787
45,748

6,127,370
34,441
827,505
327,523
4,738,279
199,622
711,335
505,548
205,787
45,748

1,714,810
62,036
196,084
46,917
4,330
1,405,443
208,305
0
208,305
0

87,420
3,860,965
350,759
350,759
0
3,510,206

45,748
6,171,895
385,835
385,835
0
5,786,060

45,748
6,171,895
385,835
385,835
0
5,786,060

0
1,582,791
466,861
466,861
0
1,115,930

1,376,717
1,238,844
137,873
1,249,351

1,870,447
1,850,381
20,066
1,770,237

1,870,447
1,850,381
20,066
1,770,237

368,294
368,294
0
294,373

127,366
103,126

100,210
148,712

100,210
148,712

73,921
23,807

(Thousand Rupees)
2009
2010
3,472,351
40,120
468,430
65,805
4,560
23,945
3,333,078
9,403
1,259,576
24,052
216,313
43,750
121,794
853,667
149,786
0
149,786
44,695
0
0
0
44,695
0
4,537,446
513,547
513,547
0
4,023,899
0
4,023,899
0

3,786,338
52,204
477,302
67,690
9,737
23,575
3,632,325
10,544
1,467,466
26,633
201,103
69,763
761,362
408,605
139,140
0
139,140
48,557
0
0
0
48,557
0
5,066,107
513,547
513,547
0
4,552,560
0
4,552,560
0
380,862
380,862
0
330,206
122,362
207,844
50,656
95,283
11,349
83,934
164,241
1,313
0
681,604
13,591
25,677
77,032
(149,372)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

499,801
13,035
0
35,076

(3,233)
14,263
0
35,076

(3,233)
14,263
0
35,076

134,707
10,083
0
0

193,365
193,365
0
140,441
56,983
83,458
52,924
563,738
5,555
558,183
74,346
155
0
(215,818)
1,089
0
0
20,425

3,948,385
0
486,766
698,704

6,217,643
0
(17,496)
505,548

6,217,643
0
(17,496)
505,548

1,582,791
0
124,624
0

4,582,141
0
(216,907)
0

5,114,664
0
642,336
0

3.26
2.22
20.73
0.29
4.66
90.75
0.25
10.77
13.53
13.16

7.17
4.05
17.51
0.27
8.61
94.64
0.12
-0.06
-0.06
-0.06

7.17
4.05
17.51
0.27
8.61
94.64
0.12
-0.05
-0.05
-0.05

0.54
0.09
12.74
0.21
8.23
79.93
0.13
3.09
3.47
3.45

1.27
0.08
22.63
0.04
8.41
72.63
0.04
-6.62
-7.05
-7.00

6.16
0.34
18.32
0.07
10.55
86.70
0.04
13.65
14.19
14.06
26.02
1.89

103,126

148,712

148,712

23,807

30,521

75,843

75,843

333

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

44

1.36

2.26

2.26

1.88

0.89

36.30
0.00
13.88
110.07

-0.17
0.00
-0.45
159.96

-0.17
0.00
-0.45
159.96

36.58
0.00

-111.61
0.11
-4.22
88.36

178.96
-0.80
13.01
98.65

Financial Statement Analysis of Non Financial Sector 2010

Dewan Farooque 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

2005

2006

2007

2008

1,425,025

1,332,587

1,273,830

1,390,432
1,425,025
59,683
0

1,390,432
1,332,587
140,078
0

1,589,719
1,273,830
126,440
0

428,820
5,718
263,015
23,957
0
136,130
751,201
96,069
655,132
495,869

530,650
1,796
272,089
81,550
0
175,215
890,274
198,959
691,315
351,224

552,785
2,013
325,251
95,251
7,977
122,293
488,303
289,550
198,753
685,908

243,750

495,869
606,775
600,000
600,000
0
6,775

351,224
621,739
600,000
600,000
0
21,739

442,158
652,404
600,000
600,000
0
52,404

306,823
73,882
232,941
244,850

880,976
388,304
492,672
745,163

1,015,813
383,770
632,043
894,845

61,973
3,112

135,813
11,439

120,968
51,407

(Thousand Rupees)
2009
2010
1,207,371
25,089
1,613,806
1,177,282
120,635
0
0
5,000
586,138
6,525
359,016
75,547
0
145,050
838,390
473,911
364,480
579,434
224,219
377,507
0
6,648
(28,940)
375,684
600,000
600,000
0
(224,316)
0
(224,316)
0

1,146,037
27,691
1,639,662
1,093,166
110,355
0
0
25,181
586,936
1,978
335,195
52,051
0
197,713
793,710
471,930
321,780
487,915
126,162
377,507
0
8,599
(24,352)
451,348
600,000
600,000
0
(148,652)
0
(148,652)
0
1,247,720
1,062,439
185,281
1,108,768
711,671
397,097
138,952
43,388
27,183
16,205
91,284
13,497
5,213
85,640
5,388
0
0
(40,890)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

13,907
3,356
0
0

6,301
7,101
0
0

(38,366)
96,604
0
0

920,419
522,184
398,235
974,841
639,609
335,232
(54,422)
41,517
30,759
10,759
71,467
127,582
113,986
(217,008)
4,001
0
0
(27,805)

1,102,644
0
10,551
96,069

972,963
0
(800)
198,959

1,338,312
243,750
(134,970)
533,300

955,118
224,219
(221,009)
698,130

939,263
126,162
80,252
598,091

0.09
13.41
9.26
0.47
0.60
84.58
2.00
0.34
1.03
0.61

0.22
10.63
9.38
0.56
1.13
88.09
1.80
-2.08
-6.02
-3.32

0.10
13.86
8.21
0.51
0.70
105.91
3.77
-11.99
-42.22
-18.92

0.07
1.08
4.17
0.72
0.74
88.86
2.84
4.86
20.71
9.04

3,112

11,439

51,407

44,980

118,107

107,953

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.04
14.66
7.81
0.17
0.57
79.80
2.06
0.75
2.29
1.26

1.17

3.24

3.12

2.56
-0.90
-23.58
-0.02
-3.68
6.26

3.72
17.43
6.86
-0.03
1.34
7.52

4.53
0.00
0.18
10.11

0.72
0.00
-0.01
10.36

-3.78
0.00
-2.25
10.87

Financial Statement Analysis of Non Financial Sector 2010

Dewan Khalid 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

2005

2006

2007

2008

276,680

299,847

296,920

290,074

551,075
276,680
13,987
0

594,250
299,847
20,008
0

476,370
296,920
19,003
0

584,896
290,074
18,742
0

790,991
3,723
545,326
88,701
65,000
88,241
691,981
365,301
326,680
64,500

824,100
3,420
583,135
87,382
65,000
85,163
794,684
366,617
428,067
36,000

1,148,849
1,957
657,194
64,812
340,552
84,334
855,807
391,148
464,659
20,000

749,151
10,224
366,208
107,942
159,785
104,992
697,518
374,691
322,827
52,161

64,500
311,190
46,962
46,962
0
264,228

36,000
293,263
51,659
51,659
0
241,604

20,000
569,962
56,824
56,824
0
513,138

52,161
289,546
56,825
56,825
0
232,721

374,109
365,320
8,789
322,827

811,875
720,738
91,137
707,225

565,599
534,391
31,208
466,150

1,205,872
1,200,281
5,591
1,173,185

51,282
16,506

104,650
41,888

99,449
39,882

32,687
50,027

(Thousand Rupees)
2009
2010
331,456
49,331
593,205
234,278
26,779
0
47,774
73
585,827
2,297
316,758
197,640
0
69,132
780,215
385,467
394,749
44,851
0
0
0
9,488
35,363
92,217
56,825
56,825
0
35,392
0
35,392
0

309,005
49,331
593,482
210,536
24,019
0
49,065
73
575,336
2,032
248,540
257,374
0
67,390
766,370
355,368
411,001
40,185
0
0
0
5,433
34,752
77,787
56,825
56,825
0
20,962
0
20,962
0
498,155
498,155
0
485,275
289,517
195,758
12,880
26,905
2,100
24,805
52,870
7,120
291
(21,145)
2,508
0
0
41,976

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

12,673
4,765
0
4,269

14,107
5,847
5,166
0

5,639
2,828
0
0

(73,565)
6,034
0
0

652,201
652,201
0
660,706
474,871
185,835
(8,505)
53,882
17,473
36,409
85,554
45,672
43,597
(108,059)
0
0
0
53,240

375,690
0
7,908
365,301

329,263
0
3,094
366,617

589,962
0
2,811
391,148

341,707
0
(79,599)
374,691

137,067
0
(108,059)
385,467

117,971
0
(23,652)
355,368

0.23
5.91
23.71
0.35
1.14
86.29
2.43
1.26
4.10
3.30

0.20
5.99
10.76
0.72
1.04
87.11
2.83
1.29
4.67
4.00
1.60
1.39

0.48
9.53
11.46
0.39
1.34
82.42
1.54
0.44
1.31
1.23

0.40
4.66
8.95
1.16
1.07
97.29
2.59
-5.92
-17.12
-15.79

0.26
7.00
30.30
0.71
0.75
101.30
8.95
-11.05
-56.61
-45.14

0.34
1.43
51.67
0.56
0.75
97.41
10.37
-2.35
-24.88
-16.58

16,506

41,888

39,882

50,027

22,103

48,655

53,928

56,225

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.69

46

0.86

3.29

2.06
-1.48
-16.57
0.06
-19.02
16.23

2.00
-71.71
-4.24
0.05
-4.16
13.69

3.39
0.00
1.68
66.26

1.74
0.00
1.60
56.77

1.00
0.00
0.49
100.30

-6.10
0.00
-14.01
50.95

Financial Statement Analysis of Non Financial Sector 2010

Dewan Mushtaq 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

2005

2006

2007

2008

411,100

391,434

368,431

338,622

698,335
411,100
32,002
0

719,560
391,434
40,890
0

706,402
368,431
38,466
0

738,776
338,622
35,880
0

908,855
3,665
713,093
41,368
40,000
110,729
1,055,521
326,896
728,625
61,583

861,823
8,417
635,063
77,163
40,000
101,180
1,091,018
307,101
783,917
0

1,012,452
11,526
571,066
124,726
209,571
95,563
1,038,781
274,476
764,305
0

557,613
27,809
257,230
129,845
98,329
44,400
673,495
129,674
543,821
0

61,583
202,851
28,380
28,380
0
174,471

0
162,239
31,218
31,218
0
131,021

0
342,102
34,340
34,340
0
307,762

0
222,740
34,340
34,340
0
188,400

650,446
635,397
15,049
595,027

1,066,836
987,544
79,292
971,177

1,136,992
1,046,334
90,658
1,043,407

1,526,823
1,446,391
80,432
1,510,847

55,419
22,056

95,659
42,626

93,585
49,906

15,976
17,819

(Thousand Rupees)
2009
2010
334,553
192
739,439
304,122
34,971
0
29,399
841
389,424
6,013
112,120
223,609
0
47,682
391,714
233,837
157,877
242,499
187,500
0
0
23,672
31,327
89,765
34,340
34,340
0
55,425
(5,300)
60,725
0

304,126
192
739,220
272,900
31,253
0
30,194
841
503,798
2,785
116,046
336,673
0
48,295
542,305
334,602
207,703
135,123
83,333
0
0
23,065
28,726
130,497
34,340
34,340
0
96,157
0
96,157
0
1,051,558
1,051,558
0
979,882
680,650
299,232
71,676
28,376
8,135
20,242
100,757
763
118
38,092
5,262
0
0
906

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

18,373
3,135
0
2,580

19,889
6,659
0
3,122

15,713
10,679
0
0

(33,715)
7,909
0
0

1,033,717
1,011,121
22,596
997,035
640,441
356,594
36,682
39,844
18,173
21,671
102,540
69,799
67,723
(78,260)
264
0
0
(278,877)

264,434
0
15,238
326,896

162,239
0
13,230
307,101

342,102
0
5,034
274,476

222,740
0
(41,624)
129,674

332,264
187,500
(78,524)
421,337

265,620
83,333
32,831
417,935

0.08
2.41
6.36
0.49
0.86
91.48
5.51
1.41
9.31
6.52

0.12
3.11
7.23
0.85
0.79
91.03
6.72
1.55
10.90
9.32

0.33
2.52
10.97
0.82
0.97
91.77
3.04
1.19
6.23
6.23

0.38
2.10
8.50
1.70
0.83
98.95
3.02
-2.96
-11.94
-11.94

0.59
6.75
21.63
1.43
0.99
96.45
7.07
-9.66
-50.09
-28.20

0.63
0.07
32.02
1.30
0.93
93.18
5.19
4.97
34.59
12.74

22,056

42,626

49,906

17,819

15,647

33,144

28,631

32,045

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

47

0.91

1.68

1.99

5.94

9.22
-0.16
-7.57
-0.44
-22.87
26.14

9.06
324.17
3.62
0.00
9.56
38.00

2.82
0.00
5.37
71.48

1.86
0.00
4.24
51.97

1.38
0.00
1.47
99.62

-2.21
0.00
-12.12
64.86

Financial Statement Analysis of Non Financial Sector 2010

Dewan 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

2005

2006

2007

2008

1,175,743

1,231,462

1,205,680

1,278,803

2,067,588
1,175,743
69,236
0

2,215,272
1,231,462
91,966
0

2,128,782
1,205,680
101,006
0

2,231,600
1,278,803
109,259
0

2,248,516
3,262
1,584,624
315,310
210,000
135,320
2,334,181
1,745,673
588,508
263,367

3,100,755
1,362
1,456,862
355,689
1,168,034
118,808
2,393,038
1,584,370
808,668
193,095

3,142,846
14,261
1,507,921
430,836
1,100,246
89,582
2,460,394
1,501,197
959,197
139,683

3,038,360
12,507
1,714,936
671,730
516,229
122,958
2,621,321
1,753,896
867,425
745,176

263,367
826,711
111,608
111,608
0
715,103

193,095
1,746,084
122,769
122,769
0
1,623,315

139,683
1,748,449
135,046
135,046
0
1,613,403

745,176
950,666
135,046
135,046
0
815,620

2,007,296
1,428,597
578,699
1,792,358

2,320,806
2,320,806
0
1,973,765

2,576,064
1,595,052
981,012
2,201,609

3,232,639
1,815,288
1,417,351
3,055,428

214,938
74,568

347,041
91,611

374,455
107,798

177,211
115,989

(Thousand Rupees)
2009
2010
1,480,393
153,936
2,461,995
1,156,574
111,345
0
154,347
15,537
2,420,105
6,560
1,284,780
1,046,271
0
82,494
3,156,287
2,154,917
1,001,370
802,532
782,665
0
0
19,867
0
(58,320)
135,046
135,046
0
(193,366)
(27,826)
(165,540)
0

1,362,737
19,654
2,599,113
1,174,381
119,732
0
158,519
10,184
2,308,180
3,825
1,093,251
1,103,460
0
107,644
3,125,450
2,199,822
925,628
527,041
498,681
0
0
28,361
0
18,426
135,046
135,046
0
(116,620)
0
(116,620)
0
3,441,743
3,195,071
246,672
3,265,735
40,274
3,225,460
176,009
81,185
24,302
56,883
258,925
31,599
22,880
67,087
18,692
0
0
108,808

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

29,368
13,330
0
10,146

43,373
14,372
0
12,277

26,369
13,235
0
0

(212,863)
18,018
0
0

3,113,780
1,595,498
1,518,282
3,339,237
54,515
3,284,722
(225,457)
154,146
88,295
65,851
72,660
297,077
256,982
(659,196)
17,386
0
0
(44,688)

1,090,078
0
16,038
1,745,673

1,939,179
0
29,001
1,584,370

1,888,132
0
13,134
1,501,197

1,695,842
0
(230,881)
1,753,896

744,212
782,665
(676,582)
2,937,581

545,467
498,681
48,396
2,698,503

0.46
8.85
20.78
0.75
1.16
94.52
3.54
-4.91
-15.77
-11.88

0.33
9.54
33.60
0.80
0.77
107.24
-67.88
-16.04
-147.74
-54.03

0.35
0.92
32.06
0.94
0.74
94.89
198.22
1.77
-336.33
10.40

74,568

91,611

107,798

115,989

112,088

215,560

244,838

285,935

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.23
5.58
15.71
0.59
0.96
89.29
3.14
0.82
3.65
2.76

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

48

0.64
9.29
15.33
0.54
1.30
85.05
1.48
1.12
3.37
2.86

0.63
9.50
16.72
0.59
1.28
85.46
1.49
0.61
1.51
1.38

1.27

1.59

1.71

1.88

2.42
-1.57
-21.17
-0.01
-50.10
-4.32

3.15
3.93
1.95
0.03
3.58
1.36

1.46
0.00
1.44
74.07

1.87
0.00
2.36
142.23

1.02
0.00
0.97
129.47

-6.58
0.00
-17.10
70.40

Financial Statement Analysis of Non Financial Sector 2010

Din 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

2005

2006

2007

2008

2,153,548

2,120,558

2,005,359

1,899,186

2,852,648
2,153,548
91,981
0

3,026,201
2,120,558
213,822
0

3,115,768
2,005,359
210,707
0

3,207,269
1,899,186
200,116
0

1,084,635
18,826
735,558
248,296
0
81,955
1,081,427
826,195
255,232
1,250,050

927,274
25,881
538,259
213,029
0
150,105
1,657,668
814,148
843,520
665,279

1,156,671
8,570
644,740
0
0
503,361
1,767,707
772,218
995,489
503,091

1,229,579
23,599
559,266
416,960
0
229,754
1,791,938
771,247
1,020,691
263,786

1,250,050
906,706
185,302
185,302
0
721,404

665,279
724,885
185,303
185,303
0
539,582

503,091
891,232
185,303
185,303
0
705,929

263,786
1,073,041
185,303
185,303
0
887,738

1,443,019
1,200,225
242,794
1,323,915

2,510,860
2,504,470
6,390
2,277,337

2,772,414
1,295,142
1,477,272
2,479,012

3,101,040
1,504,079
1,596,961
2,765,929

119,104
40,956

233,523
64,327

293,402
73,643

335,111
98,555

(Thousand Rupees)
2009
2010
1,743,569
3,120
3,221,476
1,733,348
187,217
0
0
7,101
1,423,325
14,403
515,264
560,983
0
332,675
1,380,077
1,170,363
209,714
684,147
83,742
500,000
0
52,008
48,397
1,102,670
185,303
185,303
0
917,367
10,376
906,991
0

1,682,730
85,817
3,231,178
1,584,345
170,199
0
0
12,568
1,734,752
24,666
864,830
547,900
0
297,357
1,691,536
1,153,448
538,088
263,397
159,701
0
0
49,729
53,968
1,462,548
185,303
185,303
0
1,277,245
10,376
1,266,869
0
4,691,884
2,845,008
1,846,877
3,767,900
2,569,545
1,198,355
923,984
307,965
195,201
112,765
337,492
213,463
196,789
414,043
40,474
37,061
18,530
307,799
1,725,945
159,701
336,508
1,313,149

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

22,701
6,536
0
3,088

34,581
2,016
0
0

90,531
20,271
0
0

132,360
15,823
0
0

3,712,392
2,513,709
1,198,683
3,324,878
2,257,391
1,067,487
387,514
169,895
115,092
54,803
306,478
142,461
130,641
84,893
12,021
0
0
86,975

2,156,756
0
16,165
826,195

1,390,164
0
32,565
814,148

1,394,323
0
70,260
772,218

1,336,827
0
116,537
771,247

1,786,817
83,742
72,872
1,254,105

0.25
4.09
17.21
0.45
1.00
91.75
2.57
0.90
2.63
1.44

0.14
5.68
8.48
0.82
0.56
90.70
3.20
1.10
4.24
1.95

0.00
4.94
0.00
0.88
0.65
89.42
2.55
2.92
11.20
6.50

0.25
3.68
13.45
0.99
0.69
89.19
1.92
4.21
13.48
9.69

40,956

64,327

73,643

98,555

58,989

142,646

136,957

114,212

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.42
3.84
15.11
1.17
1.03
89.56
1.87
2.70
7.80
5.44

1.96

4.66

4.30

5.54

7.20
1.65
2.29
0.04
3.93
59.51

1.57
0.00
0.87
48.93

1.38
0.00
1.76
39.12

3.27
0.00

4.27
0.00
6.29
57.91

0.34
4.55
11.68
1.37
1.03
80.31
1.34
12.58
32.28
23.57
10.08
5.43
3.10
8.82
0.16
20.16
78.93

Financial Statement Analysis of Non Financial Sector 2010

Elahi Cotton 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

2005

2006

2007

2008

49,426

46,745

45,286

43,387

115,632
49,426
1,889
0

106,213
46,745
2,267
0

104,468
45,286
2,101
0

104,015
43,387
1,922
0

5,035
164
2,827
22
0
2,022
70,856
30,541
40,315
18,895

7,613
646
4,211
0
0
2,756
93,049
31,741
61,308
3,779

6,711
1,089
3,305
0
0
2,317
98,601
23,883
74,718
0

7,025
568
4,685
0
0
1,772
78,688
0
78,688
4,468

18,895
(35,290)
13,000
13,000
0
(48,290)

3,779
(42,470)
13,000
13,000
0
(55,470)

0
(46,604)
13,000
13,000
0
(59,604)

4,468
(32,744)
13,000
13,000
0
(45,744)

9,806
9,806
0
11,736

71,074
71,074
0
72,511

109,721
109,721
0
111,262

148,163
148,163
0
150,498

(1,930)
1,383

(1,437)
2,024

(1,541)
1,376

(2,335)
1,365

(Thousand Rupees)
2009
2010
42,754
0
100,783
41,835
1,737
0
0
919
5,937
573
4,244
0
0
1,120
14,037
0
14,037
71,584
0
66,798
0
2,287
2,500
(36,931)
13,000
13,000
0
(76,599)
0
(76,599)
26,668

63,277
0
123,042
62,358
1,736
0
0
919
9,505
3,789
3,796
0
0
1,921
10,250
0
10,250
90,159
0
78,624
0
2,635
8,900
(27,627)
13,000
13,000
0
(82,530)
0
(82,530)
41,903
150,011
150,011
0
154,779
121,035
33,744
(4,768)
1,563
0
1,563
15,860
416
0
(6,555)
0
0
0
(220)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

41,139
51
0
0

(3,127)
371
0
0

(4,468)
553
0
0

15,199
747
0
0

139,722
139,722
0
143,243
112,926
30,318
(3,521)
1,806
0
1,806
15,034
756
0
(4,691)
0
0
0
179,045

(16,395)
0
41,088
30,541

(38,691)
0
(3,498)
31,741

(46,604)
0
(5,021)
23,883

(28,276)
0
14,452
0

34,653
0
(4,691)
0

62,532
0
(6,555)
0

0.00
18.05
0.22
0.18
0.07
119.68
-2.54
74.94
-73.68
-178.45

0.01
3.33
0.00
1.31
0.08
102.02
-2.28
-5.75
8.04
11.35

0.01
2.16
0.00
2.11
0.07
101.40
-2.12
-8.40
10.03
10.48

0.01
0.14
0.00
2.94
0.09
101.58
-2.54
29.68
-38.31
-40.60

0.04
0.54
0.00
2.87
0.42
102.52
-2.32
-9.47
13.46
-147.10

0.37
0.28
0.00
2.06
0.93
103.18
-3.63
-10.79
20.31
-13.49

1,383

2,024

1,376

1,365

1,770

2,367

2,375

201

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

50

3.47

16.88

33.20

31.62

32.92

39.52

419.53
0.00
31.61
-27.15

-4.40
0.00
-2.69
-32.67

-4.07
0.00
-3.86
-35.85

10.26
0.00
11.12
-25.19

-3.36
2.09
-3.61
-28.41

-4.37
0.00
-5.04
-21.25

Financial Statement Analysis of Non Financial Sector 2010

Ellcot 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

2005

2006

2007

2008

886,487

890,215

975,948

957,356

1,278,768
886,487
35,481
0

1,330,959
890,215
87,737
0

1,495,215
975,948
89,491
0

1,578,462
957,356
99,665
0

477,037
49,218
281,520
41,073
0
105,226
455,086
308,113
146,973
516,970

428,397
73,354
249,491
49,179
0
56,373
473,810
374,710
99,100
451,192

713,069
114,343
304,520
98,388
0
195,818
662,193
471,238
190,955
585,713

849,137
53,643
565,470
145,492
0
84,532
850,510
647,875
202,635
471,695

516,970
391,468
109,500
109,500
0
281,968

451,192
393,610
109,500
109,500
0
284,110

585,713
441,111
109,500
109,500
0
331,611

471,695
484,288
109,500
109,500
0
374,788

1,003,011
868,702
134,309
867,294

1,489,239
1,489,239
0
1,291,803

1,608,284
1,082,261
526,023
1,412,133

1,841,530
1,226,018
615,512
1,574,006

135,717
35,596

197,436
44,393

196,151
60,598

267,524
96,686

(Thousand Rupees)
2009
2010
923,595
13,758
1,621,703
904,722
97,355
0
0
5,115
902,086
16,336
583,005
185,809
0
116,936
892,181
777,339
114,842
464,639
407,694
0
0
15,532
41,414
468,860
109,500
109,500
0
359,360
7,760
351,600
0

894,119
0
1,694,203
886,961
91,252
0
0
7,158
831,559
13,259
595,116
119,778
0
103,406
691,251
476,565
214,686
445,146
367,712
0
0
14,025
63,409
589,281
109,500
109,500
0
479,781
7,760
472,021
0
3,186,160
1,581,145
1,605,015
2,772,370
1,959,108
813,262
413,790
109,721
53,332
56,389
156,771
140,059
132,903
166,678
16,049
38,325
0
406,102

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

65,427
4,506
21,900
0

74,866
7,503
16,425
0

64,648
8,044
0
0

84,387
9,207
0
0

2,441,020
1,910,310
530,710
2,167,921
1,452,354
715,567
273,099
86,207
38,986
47,221
145,179
184,066
175,677
5,254
1,232
8,213
0
50,931

908,438
0
39,021
308,113

844,802
0
50,938
374,710

1,026,824
0
56,604
471,238

955,983
0
75,180
647,875

933,499
407,694
(4,190)
1,185,032

1,034,427
367,712
112,304
844,277

0.20
3.59
4.09
0.74
1.05
86.47
2.48
4.95
18.12
7.76
2.78
3.56

0.26
5.49
3.30
1.13
0.90
86.74
2.35
5.58
19.07
8.54
4.10
5.97

0.32
4.94
6.12
0.95
1.08
87.80
2.83
4.30
15.49
6.91

0.23
5.14
7.90
1.02
1.00
85.47
2.73
4.83
18.24
8.51

0.23
7.54
7.61
1.34
1.01
88.81
2.89
0.29
1.10
0.56
0.49
4.19
1.03
0.22
0.04
0.37
42.82

0.19
4.40
3.76
1.85
1.20
87.01
1.93
9.39
31.50
16.94
3.93
5.35
2.25
5.23
0.36
13.76
53.82

35,596

44,393

60,598

96,686

36,026

81,786

79,507

94,675

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

51

5.28

3.26

6.52
0.00
5.56
35.75

5.03
0.00
6.15
35.95

4.02
0.00
5.17
40.28

4.58
0.00
6.87
44.23

Financial Statement Analysis of Non Financial Sector 2010

Faisal 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

2005

2006

2007

2008

1,716,766

1,671,963

1,725,274

1,603,724

2,258,768
1,716,766
99,689
0

2,377,539
1,671,963
180,395
0

2,605,635
1,725,274
179,011
0

2,666,969
1,603,724
184,328
0

1,103,127
15,848
698,364
168,457
11,892
208,566
1,360,307
1,110,692
249,615
740,615

970,372
29,490
588,087
160,238
111,319
81,238
827,264
606,459
220,805
967,013

1,244,592
24,152
685,831
293,439
130,086
111,084
1,310,563
794,000
516,563
631,388

1,438,196
26,622
877,948
265,447
140,845
127,334
1,425,328
902,504
522,824
559,353

740,615
718,971
100,000
100,000
0
618,971

967,013
848,058
100,000
100,000
0
748,058

631,388
1,027,915
100,000
100,000
0
927,915

559,353
1,057,239
100,000
100,000
0
957,239

2,457,809
514,036
1,943,773
2,154,559

3,236,522
560,137
2,676,385
2,843,213

3,396,465
1,522,951
1,873,514
3,040,253

3,725,554
1,722,945
2,002,609
3,353,490

303,250
80,917

393,309
96,471

356,212
82,718

372,064
95,652

(Thousand Rupees)
2009
2010
1,624,424
16
2,684,970
1,461,870
164,554
0
153,005
9,534
1,206,601
13,327
822,996
235,948
0
134,330
1,243,805
1,005,922
237,883
551,840
380,446
89,286
0
42,854
39,254
1,035,380
100,000
100,000
0
935,380
850,000
85,380
0

1,623,573
44,241
2,709,472
1,340,344
152,367
0
230,415
8,574
1,291,859
74,333
893,253
190,746
0
133,528
1,193,097
866,699
326,398
291,825
121,716
100,000
0
50,118
19,990
1,430,511
100,000
100,000
0
1,330,511
1,250,000
80,511
0
5,148,819
390,310
4,758,509
4,355,164
3,534,450
820,714
793,655
220,089
143,786
76,303
270,075
211,118
173,543
443,070
61,201
50,000
0
120,197

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

141,768
26,280
7,500
0

132,637
43,780
7,500
0

112,985
25,627
0
0

107,659
27,794
1,000
37,000

4,271,909
1,587,284
2,684,625
3,826,875
2,665,565
1,161,311
445,034
99,948
66,205
33,743
222,766
264,679
235,632
94,133
29,567
7,500
0
704,036

1,459,586
0
107,988
1,110,692

1,815,071
0
81,357
606,459

1,659,303
0
87,358
794,000

1,616,592
0
78,865
902,504

1,587,220
380,446
57,066
1,386,368

1,722,335
121,716
331,868
988,415

0.14
3.38
6.85
0.87
0.81
87.66
2.92
5.56
21.45
9.64
15.40
3.52

0.36
5.85
4.95
1.22
1.17
87.85
2.12
4.86
16.93
8.10
11.85
5.50

0.34
5.33
8.64
1.14
0.95
89.51
1.89
4.03
12.05
6.50

0.30
5.06
7.13
1.22
1.01
90.01
1.88
3.58
10.33
6.57
79.87
4.24

0.20
6.20
5.52
1.51
0.97
89.58
1.73
3.21
9.00
5.88
8.61
5.19
1.40
2.20
0.39
6.46
103.54

0.22
4.10
3.70
1.77
1.08
84.59
1.04
15.42
35.94
26.78
7.64
5.76
3.55
8.61
0.08
38.19
143.05

80,917

96,471

82,718

95,652

82,960

189,281

180,938

188,532

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

52

4.95

5.77
0.00
11.55
71.90

4.10
0.00
8.89
84.81

3.33
0.00
8.74
102.79

2.89
0.00
7.99
105.72

Financial Statement Analysis of Non Financial Sector 2010

Fateh 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

2005

2006

2007

2008

1,282,428

2,466,667

2,300,148

2,140,103

3,004,522
1,282,428
74,559
0

4,376,079
2,466,667
105,211
0

4,384,656
2,300,148
105,681
0

4,385,995
2,140,103
94,877
0

5,552,367
24,833
2,492,289
1,910,166
523,689
601,390
3,179,416
1,667,703
1,511,713
1,905,147

5,263,990
40,604
2,114,227
2,133,093
526,512
449,554
3,052,873
1,640,058
1,412,815
1,865,317

5,620,709
56,872
2,267,554
2,335,579
528,135
432,569
3,494,355
1,885,484
1,608,871
1,644,925

6,753,510
12,598
2,125,628
3,848,164
526,032
241,088
4,680,474
2,708,582
1,971,892
1,501,489

1,905,147
1,750,232
12,500
12,500
0
1,737,732

1,865,317
2,812,467
12,500
12,500
0
2,799,967

1,644,925
2,781,577
12,500
12,500
0
2,769,077

1,501,489
2,711,650
12,500
12,500
0
2,699,150

5,919,743
5,919,743
0
5,285,028

6,730,685
6,730,685
0
6,063,786

6,343,519
6,343,519
0
5,799,323

4,794,218
850,404
3,943,814
4,350,438

634,715
229,761

666,899
450,103

544,196
205,030

443,780
129,402

(Thousand Rupees)
2009
2010
2,636,344
112,656
4,386,395
1,995,513
85,134
0
524,358
3,818
6,983,246
11,005
1,761,621
4,949,819
0
260,801
5,587,473
3,820,992
1,766,482
1,349,221
1,263,841
51,000
0
8,381
26,000
2,682,895
12,500
12,500
0
1,524,652
420
1,524,232
1,145,743

2,809,304
276,563
4,539,688
2,003,223
91,713
0
525,701
3,818
7,267,916
13,412
1,303,099
5,655,316
0
296,089
6,094,464
3,836,223
2,258,241
1,349,016
1,246,543
51,000
0
10,473
41,000
2,633,740
12,500
12,500
0
1,529,368
1,764
1,527,604
1,091,873

3,050,989
426,985
2,624,004
2,971,848
2,767,606
204,242
79,140
115,536
19,022
96,514
84,792
428,826
427,574
39,026
5,000
1,250
0
(220,527)

2,442,559
874,205
1,568,354
2,423,991
2,067,897
356,094
18,568
85,394
18,450
66,944
129,650
561,197
559,746
27,722
8,100
1,875
0
351,294

4,032,116
1,263,841
32,776
5,084,832

3,982,756
1,246,543
17,747
5,082,766

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

229,761

450,103

205,030

129,402

290,284

311,812

359,551

390,108

140,190
32,000
9,375
0

138,705
38,000
9,375
0

101,667
51,000
0
0

37,557
29,500
9,375
0

3,655,379
0
98,815
1,667,703

4,677,784
0
91,330
1,640,058

4,426,502
0
50,667
1,885,484

4,213,139
0
(1,318)
2,708,582

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.77
4.90
32.27
0.87
1.75
89.28
2.91
2.04
8.30
3.82
11.54
2.38

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.88
4.63
31.69
0.87
1.72
90.09
1.75
1.90
6.08
3.33
10.74
3.18

0.84
5.67
36.82
0.80
1.61
91.42
1.85
1.30
3.63
2.23

2.80

0.94
8.14
80.27
0.54
1.44
90.74
2.28
0.45
1.37
0.87
0.86
2.26

2.37
0.00
86.55
1,400.19

2.06
0.00
80.56
2,249.97

1.60
0.00
40.53
2,225.26

0.78
0.00
6.45
2,169.32

0.89
14.06
162.24
0.32
1.25
97.41
2.59
0.42
1.45
0.95
27.22
1.73
1.09
1.28
-0.03
27.22
2,146.32

0.93
22.98
231.53
0.24
1.19
99.24
2.83
0.28
1.04
0.69
10.47
1.87
1.05
1.13
0.05
15.70
2,106.99

Financial Statement Analysis of Non Financial Sector 2010

Fatima Enterprises Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

1,527,126

2,008,520

2,858,193

3,271,019

2,341,482
1,527,126
90,333
0

2,940,634
2,008,520
119,298
0

3,934,229
2,858,193
151,775
0

4,601,171
3,271,019
252,839
0

2,133,724
72,934
1,387,099
282,859
58,599
332,233
2,359,785
1,823,698
536,087
417,756

3,149,985
131,547
1,421,717
375,300
58,599
1,162,822
3,394,851
2,568,922
825,929
1,010,133

3,618,481
97,094
2,104,908
662,200
58,159
696,120
4,449,466
3,209,134
1,240,332
1,266,632

5,232,393
154,820
3,562,286
671,637
760
842,890
6,173,216
4,674,523
1,498,693
1,331,035

417,756
883,309
142,310
142,310
0
740,999

1,010,133
753,521
142,310
142,310
0
611,211

1,266,632
760,576
142,310
142,310
0
618,266

1,331,035
999,161
142,310
142,310
0
856,851

3,833,000
2,598,914
1,234,086
3,568,468

5,347,656
3,765,702
1,581,954
5,090,590

6,782,454
5,407,623
1,374,831
6,306,633

9,736,403
8,167,273
1,569,130
8,999,814

264,532
55,024

257,066
66,109

475,821
79,768

736,589
109,837

(Thousand Rupees)
2009
2010
4,445,080
2,626
5,820,275
4,329,858
157,155
0
58,459
54,137
4,655,607
173,006
3,293,669
332,471
0
856,461
5,206,111
3,931,123
1,274,988
2,065,560
1,393,675
597,006
0
35,077
39,802
1,829,016
142,310
142,310
0
752,927
18,648
734,279
933,779

4,354,033
389
5,923,436
4,256,856
176,163
0
58,459
38,329
4,024,649
79,828
2,679,930
453,214
0
811,677
4,334,810
3,189,683
1,145,127
1,977,404
1,301,973
607,516
0
28,113
39,802
2,066,468
142,310
142,310
0
990,379
18,648
971,731
933,779
7,894,355
6,301,113
1,593,242
6,908,250
6,410,104
498,146
986,105
121,007
0
121,007
566,263
614,905
594,193
261,183
38,692
0
0
1,459,148

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

94,288
43,576
0
0

(35,252)
37,700
0
0

27,055
20,000
0
0

115,667
49,100
7,115
0

7,654,539
5,868,803
1,785,736
6,735,425
6,679,554
55,871
919,114
154,693
0
154,693
228,531
797,091
769,939
501,666
336
0
0
2,327,189

1,301,065
0
50,712
1,823,698

1,763,654
0
(72,952)
2,568,922

2,027,208
0
7,055
3,209,134

2,330,196
0
59,452
4,674,523

3,894,576
1,393,675
501,330
5,324,798

4,043,872
1,301,973
222,491
4,491,656

0.17
4.78
7.02
1.04
0.93
95.19
5.85
-0.80
-4.31
-2.30

0.18
5.51
9.76
1.05
0.81
92.98
7.52
0.47
3.57
1.43

0.10
10.41
4.34
0.84
0.89
87.99
3.98
5.70
35.48
16.12

0.12
7.79
5.74
0.94
0.93
87.51
3.05
2.99
13.41
6.58

55,024

66,109

79,768

109,837

117,999

255,406

374,050

580,582

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.18
3.08
7.38
1.05
0.90
93.10
3.14
2.96
14.38
8.55

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.76

3.76

3.22

0.13
5.96
6.90
1.14
0.85
92.43
7.51
1.54
13.15
5.31
9.36
2.73

2.46
0.00
3.56
62.07

-0.66
0.00
-5.13
52.95

0.40
0.00
0.50
53.45

1.19
0.00
4.68
70.21

2.32
1.65
6.55
0.32
35.23
128.52

2.95
1.44
3.31
0.23
15.63
145.21

Financial Statement Analysis of Non Financial Sector 2010

Fawad 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

2005

2006

2007

2008

256,604

605,604

570,453

594,196

531,076
256,604
15,190
0

895,840
605,604
26,770
0

914,381
570,453
46,257
0

144,854
3,054
63,921
38,975
0
38,904
160,452
73,604
86,848
71,546

(Thousand Rupees)
2009
2010

987,864
594,196
50,349
0

594,196
0
987,864
594,196
50,349
0

594,196
0
987,864
594,196
50,349
0

308,140
694
174,511
85,270
0
47,665
356,214
301,096
55,118
57,426

368,805
2,951
143,002
113,255
0
109,597
577,884
280,739
297,145
2,984

766,330
768
566,601
91,916
0
107,045
682,747
573,323
109,424
173,638

766,330
768
566,601
91,916
0
107,045
682,747
573,323
109,424
173,638

766,330
768
566,601
91,916
0
107,045
682,747
573,323
109,424
173,638

71,546
169,460
92,067
92,067
0
77,393

57,426
500,104
92,067
92,067
0
408,037

2,984
358,390
92,067
92,067
0
266,323

173,638
504,141
92,067
92,067
0
412,074

173,638
504,141
92,067
92,067
0
412,074

173,638
504,141
92,067
92,067
0
412,074

438,167
252,902
185,265
407,363

570,965
570,965
0
523,086

597,362
416,048
181,314
535,015

579,299
579,299
0
504,973

579,299
579,299
0
504,973

579,299
579,299
0
504,973

30,804
16,292

47,879
17,202

62,347
21,573

74,326
16,815

74,326
16,815

74,326
16,815

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

16,292

17,202

21,573

16,815

16,815

16,815

11,500

25,014

38,384

59,217

59,217

59,217

3,458
2,080
0
0

9,335
4,593
0
0

6,372
4,800
0
0

5,394
2,896
0
0

(1,706)
2,896
0
0

(1,706)
2,896
0
0

241,006
0
1,378
73,604

557,530
0
4,742
301,096

361,374
0
1,572
280,739

677,779
0
2,498
573,323

677,779
0
(4,602)
573,323

677,779
0
(4,602)
573,323

0.26
2.62
8.90
1.09
0.90
92.97
1.37
0.88
2.15
1.43

0.24
4.38
14.93
0.62
0.87
91.61
0.83
1.42
2.79
2.34

0.20
6.43
18.96
0.64
0.64
89.56
1.62
0.69
1.48
1.39

0.14
10.22
15.87
0.43
1.12
87.17
1.70
0.47
1.25
1.04

0.14
10.22
15.87
0.43
1.12
87.17
1.70
-0.13
-0.34
-0.25

0.14
10.22
15.87
0.43
1.12
87.17
1.70
-0.13
-0.34
-0.25

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

55

6.85

3.27

4.18

1.02

1.02

1.02

0.79
0.00
0.15
18.41

1.63
0.00
0.52
54.32

1.07
0.00

0.93
0.00
0.27
54.76

-0.29
0.00
-0.50
54.76

-0.29
0.00
-0.50
54.76

Financial Statement Analysis of Non Financial Sector 2010

Fazal Cloth 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

2005

2006

2007

2008

2,165,307

2,573,959

5,557,052

5,763,022

3,250,201
2,163,287
163,564
2,020

3,626,803
2,569,818
250,040
4,141

6,932,294
5,553,464
248,349
3,588

7,395,952
5,760,032
121,075
2,990

2,178,079
175,755
1,187,268
215,314
6
599,736
2,174,844
1,767,970
406,874
1,213,734

2,574,056
327,267
1,402,392
395,380
252,967
196,050
2,397,346
1,704,748
692,598
1,398,388

2,791,840
293,724
1,345,340
578,350
252,967
321,459
6,833,936
1,463,333
5,370,603
230,921

3,950,588
369,533
2,012,300
694,168
467,888
406,699
3,317,937
2,383,651
934,286
2,511,598

1,213,734
954,808
148,262
148,262
0
806,546

1,398,388
1,352,281
413,089
163,089
250,000
939,192

230,921
1,284,035
437,552
187,552
250,000
846,483

2,511,598
3,884,075
437,552
187,552
250,000
3,446,523

3,654,035
1,675,730
1,978,305
3,077,276

5,238,209
2,459,386
2,778,823
4,512,010

6,073,963
2,956,861
3,117,102
5,256,698

7,113,961
4,003,841
3,110,120
6,170,241

576,759
203,936

726,199
229,411

817,265
262,390

943,720
268,811

(Thousand Rupees)
2009
2010
6,214,254
71,598
7,735,510
5,655,304
261,447
7,063
467,888
12,401
3,584,952
77,400
2,222,091
739,100
0
546,361
3,144,491
2,666,625
477,865
2,669,147
1,688,473
0
0
48,482
932,192
3,985,568
437,552
187,552
250,000
1,263,107
127,616
1,135,491
2,284,908

6,563,205
24,558
8,253,593
5,921,186
266,402
6,221
596,842
14,399
4,329,573
123,498
2,645,453
883,730
0
676,893
3,542,361
2,620,502
921,859
2,752,072
1,645,081
0
0
56,057
1,050,934
4,598,345
437,552
187,552
250,000
1,880,350
177,616
1,702,734
2,280,444
11,210,977
5,859,586
5,351,391
9,638,169
6,749,904
2,888,265
1,572,808
358,711
187,079
171,632
707,712
620,940
557,903
729,257
172,369
187,552
0
1,117,586

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

222,425
24,701
0
24,710

181,054
41,682
0
14,826

182,983
46,756
0
0

340,234
35,414
0
0

8,651,230
4,953,370
3,697,860
7,455,193
5,533,097
1,922,096
1,196,037
273,076
157,207
115,869
508,179
752,731
704,898
179,526
37,653
0
0
746,180

2,168,542
0
197,724
1,767,970

2,750,669
0
139,372
1,704,748

1,514,956
0
136,227
1,463,333

6,395,673
0
304,820
2,383,651

6,654,715
1,688,473
141,873
4,355,098

7,350,417
1,645,081
369,336
4,265,583

0.18
4.13
5.89
0.84
1.00
84.22
3.55
5.69
25.83
11.18

0.41
6.05
7.55
1.02
1.07
86.14
2.81
3.82
15.70
7.36

0.16
6.57
9.52
0.73
0.41
86.54
5.50
2.71
13.88
8.58

0.46
8.09
9.76
0.73
1.19
86.73
1.50
3.77
13.17
8.60

0.26
8.70
8.54
0.88
1.14
86.17
1.46
1.84
4.56
2.75

0.28
5.54
7.88
1.03
1.22
85.97
1.37
7.05
16.99
10.41
2.97
4.24
2.31
6.50
0.18
29.69
245.18

203,936

229,411

262,390

268,811

150,894

317,035

398,994

575,642

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

3.08

3.74

4.51

3.54

3.89
1.25
2.08
0.13
7.56
212.50

6.09
0.00
13.34
64.40

3.46
0.00
8.55
82.92

3.01
0.00
7.26
68.46

4.78
0.00
16.25
207.09

Financial Statement Analysis of Non Financial Sector 2010

Fazal 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

2005

2006

2007

2008

669,942

652,327

741,766

1,663,897

1,399,424
669,942
49,681
0

1,407,892
652,327
66,420
0

1,550,952
741,766
76,523
0

1,597,122
1,663,897
69,699
0

1,029,418
3,498
727,997
235,954
0
61,969
896,139
774,375
121,764
0

1,216,469
2,007
484,255
649,618
0
80,589
1,122,958
918,079
204,879
0

1,082,521
1,514
329,953
646,461
0
104,593
1,114,379
747,293
367,086
0

1,664,834
14,552
601,284
841,740
0
207,258
1,529,306
1,324,313
204,993
1,079,477

0
803,221
61,875
61,875
0
741,346

0
745,838
61,875
61,875
0
683,963

0
709,908
61,875
61,875
0
648,033

1,079,477
719,948
61,875
61,875
0
658,073

1,803,241
801,963
1,001,278
1,640,950

2,129,845
801,791
1,328,054
1,954,275

2,381,168
575,401
1,805,767
2,259,991

2,582,365
672,118
1,910,247
2,442,461

162,291
44,736

175,570
53,662

121,177
50,248

139,904
47,315

(Thousand Rupees)
2009
2010
2,015,417
1,325,830
1,625,504
679,842
68,976
0
0
9,745
867,052
3,610
501,080
204,001
0
158,361
1,063,681
356,753
706,928
1,082,828
1,000,000
0
0
38,796
44,032
735,960
61,875
61,875
0
674,085
34,416
639,669
0

2,325,364
1,685,793
1,636,775
629,583
63,947
0
0
9,988
1,354,393
299,235
408,158
458,638
0
188,362
2,225,060
1,564,764
660,296
103,435
0
0
0
40,802
62,633
1,351,262
61,875
61,875
0
1,289,387
34,416
1,254,971
0
4,075,778
1,184,910
2,890,868
3,236,667
2,382,970
853,697
839,111
132,913
48,251
84,662
266,162
37,385
27,550
675,792
42,140
61,875
0
120,197

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

78,167
20,235
9,281
0

51,459
24,457
15,469
0

1,236
28,926
0
0

27,361
20,803
0
0

2,819,019
1,003,900
1,815,119
2,598,668
1,853,043
745,625
220,351
55,505
17,353
38,152
219,861
120,819
109,749
48,218
29,324
9,281
0
704,036

803,221
0
48,651
774,375

745,838
0
11,533
918,079

709,908
0
(27,690)
747,293

1,799,425
0
6,558
1,324,313

1,818,788
1,000,000
9,613
1,356,753

1,454,697
0
571,777
1,564,764

0.27
2.30
13.08
1.06
1.15
91.00
1.12
5.07
10.52
10.52
6.24
2.48

0.58
3.48
30.50
1.14
1.08
91.76
1.51
2.88
6.64
6.64
1.75
4.40

0.58
3.20
27.15
1.31
0.97
94.91
1.57
0.07
0.17
0.17

0.56
2.67
32.60
0.78
1.09
94.58
3.62
1.06
3.83
2.18

0.20
4.29
7.24
0.98
0.82
92.18
2.92
1.55
6.62
2.67
2.04
5.63
1.44
1.71
0.33
3.05
118.94

0.34
0.92
11.25
1.11
0.61
79.41
1.72
20.60
64.76
41.29
10.24
9.99
25.53
16.58
0.05
102.41
218.39

44,736

53,662

50,248

47,315

41,407

74,071

76,159

69,054

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

7.22

4.29

4.33
0.00
9.36
129.81

2.42
0.00
4.36
120.54

0.05
0.00
-4.48
114.73

1.06
0.00
1.06
116.36

Financial Statement Analysis of Non Financial Sector 2010

Gadoon 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

2005

2006

2007

2008

3,057,989

3,020,789

2,947,544

3,063,735

4,886,417
3,057,989
243,264
0

5,140,206
3,020,789
318,992
0

5,338,084
2,947,544
307,152
0

5,713,224
3,063,735
307,195
0

2,707,974
276,134
1,957,207
154,509
0
320,124
2,693,996
2,061,806
632,190
750,000

3,123,853
75,580
1,878,052
622,454
0
547,767
3,407,892
2,422,818
985,074
375,000

2,906,215
95,535
1,246,899
924,723
15,238
623,820
3,266,990
1,883,858
1,383,132
50,581

4,479,271
171,612
2,527,576
1,024,204
83,335
672,544
4,918,468
3,679,226
1,239,242
310,253

750,000
2,321,967
234,375
234,375
0
2,087,592

375,000
2,361,750
234,375
234,375
0
2,127,375

50,581
2,536,188
234,375
234,375
0
2,301,813

310,253
2,314,285
234,375
234,375
0
2,079,910

4,455,082
1,718,413
2,736,669
3,913,277

5,718,612
3,099,433
2,619,179
4,918,723

5,205,826
1,611,716
3,594,110
4,455,965

6,857,873
1,717,051
5,140,822
6,112,310

541,805
183,166

799,889
238,827

749,861
291,700

745,563
550,144

(Thousand Rupees)
2009
2010
2,835,300
6,919
5,676,961
2,753,743
303,668
0
0
74,638
3,208,422
118,908
1,951,187
671,114
0
467,213
2,956,070
1,818,665
1,137,405
1,113,633
897,974
0
0
76,541
139,117
1,974,019
234,375
234,375
0
1,739,644
103,125
1,636,519
0

2,804,358
29,127
5,887,425
2,695,557
281,719
0
0
79,674
3,741,677
125,510
2,159,942
998,552
0
457,673
2,827,804
1,560,890
1,266,914
916,021
630,161
0
0
100,246
185,613
2,802,210
234,375
234,375
0
2,567,835
103,125
2,464,710
0
10,028,765
5,188,691
4,840,075
8,444,067
5,801,995
2,642,072
1,584,698
426,429
280,164
146,265
704,999
290,551
280,440
874,687
0
164,063
0
775,959

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

279,429
38,806
58,594
0

363,022
77,601
58,594
0

320,389
81,989
0
0

(132,606)
0
58,594
0

7,140,792
2,968,577
4,172,215
6,383,917
4,462,965
1,920,953
756,875
438,494
181,112
257,382
489,003
620,007
463,911
(297,072)
47,290
0
0
997,762

3,071,967
0
182,029
2,061,806

2,736,750
0
226,827
2,422,818

2,586,769
0
238,400
1,883,858

2,624,538
0
(191,200)
3,679,226

3,087,652
897,974
(344,362)
2,716,639

3,718,231
630,161
710,625
2,191,051

0.16
1.89
3.47
0.77
1.01
87.84
1.48
5.39
12.28
9.35
4.11
2.28

0.20
3.58
10.88
0.93
0.92
86.01
1.60
6.10
15.50
12.50
4.87
3.04

0.32
2.88
17.76
0.89
0.89
85.60
1.31
5.34
13.08
12.04

0.26
4.83
14.93
0.91
0.91
89.13
2.26
-1.98
-5.47
-5.09
-2.26
2.71

0.27
8.68
9.40
1.18
1.09
89.40
2.06
-4.37
-13.85
-10.40

0.40
2.90
9.96
1.53
1.32
84.20
1.34
13.90
36.63
25.70
5.33
4.64
4.12
8.72
0.21
37.32
119.56

183,166

238,827

291,700

550,144

84,391

204,840

149,799

331,413

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

4.18

6.27
0.00
10.27
99.07

6.35
0.00
12.18
100.77

6.15
0.00
10.17
108.21

-1.93
0.00
-5.66
98.74

3.66
0.36
-4.16
0.25
-14.69
84.22

Financial Statement Analysis of Non Financial Sector 2010

Ghazi Fabrics 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

2005

2006

2007

2008

1,671,201

1,836,333

1,720,959

1,650,435

2,469,348
1,671,201
118,634
0

2,729,691
1,836,333
152,925
0

2,771,584
1,720,959
167,146
0

2,815,335
1,650,435
156,743
0

395,693
14,898
205,075
79,055
0
96,665
872,583
250,773
621,810
533,113

504,024
4,593
371,231
81,621
0
46,579
985,140
402,611
582,529
758,793

582,021
3,878
359,710
145,846
0
72,587
1,549,414
296,618
1,252,796
451,345

793,335
290
582,302
119,667
0
91,076
2,012,300
757,792
1,254,508
313,501

533,113
661,198
326,356
326,356
0
334,842

758,793
596,424
326,356
326,356
0
270,068

451,345
302,221
326,356
326,356
0
(24,135)

313,501
117,969
326,356
326,356
0
(208,387)

1,689,244
775,124
914,120
1,635,642

2,397,889
1,273,240
1,124,649
2,211,367

2,715,197
1,484,173
1,231,024
2,666,215

2,923,578
1,778,771
1,144,807
2,857,817

53,602
127,169

186,522
108,735

48,982
116,455

65,761
126,182

(Thousand Rupees)
2009
2010
1,535,885
0
2,903,804
1,530,188
149,039
0
0
5,697
1,007,654
7,621
733,463
175,771
0
90,798
1,177,032
995,610
181,422
1,402,504
363,546
936,999
0
24,434
77,525
(35,998)
326,356
326,356
0
(590,573)
0
(590,573)
228,219

1,412,429
158
2,918,237
1,406,574
138,258
0
0
5,697
1,069,371
19,371
732,389
189,741
0
127,870
1,297,775
1,035,029
262,747
1,114,395
247,394
754,289
0
28,856
83,857
69,630
326,356
326,356
0
(460,503)
0
(460,503)
203,777
3,827,202
2,770,972
1,056,229
3,378,485
2,566,838
811,646
448,717
152,688
74,108
78,580
256,283
166,452
157,824
133,165
38,295
32,636
0
268,830

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(114,286)
9,899
0
0

29,014
15,065
3,238
0

(178,344)
14,831
0
0

(161,724)
14,612
0
0

3,093,333
1,928,450
1,164,884
2,888,225
2,211,374
676,851
205,109
175,715
100,521
75,194
226,565
161,632
153,372
(130,636)
15,373
0
0
(174,359)

1,194,311
0
(124,185)
250,773

1,355,217
0
10,711
402,611

753,566
0
(193,175)
296,618

431,470
0
(176,336)
757,792

1,366,506
363,546
(146,008)
1,359,157

1,184,025
247,394
62,235
1,282,423

0.11
2.65
4.68
0.82
0.45
96.83
2.13
-5.53
-16.44
-10.02

0.09
4.18
3.40
1.02
0.51
92.22
2.92
1.32
4.61
2.28
4.31
6.46

0.10
4.23
5.37
1.18
0.38
98.20
6.62
-7.68
-39.69
-16.91

0.06
3.64
4.09
1.20
0.39
97.75
19.72
-6.81
-76.98
-27.29

0.16
5.23
5.68
1.22
0.86
93.37
-71.66
-5.24
-318.74
-14.53

0.16
4.35
4.96
1.54
0.82
88.28
34.64
5.30
791.90
10.44
2.91
5.23
1.84
3.48
0.11
2.91
2.13

127,169

108,735

116,455

126,182

44,714

100,162

114,801

106,535

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

8.24

59

7.55

5.02

4.22
0.15
-4.22
-0.07
-4.47
-1.10

-6.77
0.00
-3.81
20.26

1.21
0.00
0.43
18.28

-6.57
0.00
-5.92
9.26

-5.53
0.00
-5.40
3.61

Financial Statement Analysis of Non Financial Sector 2010

Glamour 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

2005

2006

2007

2008

482,458

519,673

531,013

568,032

991,957
482,458
28,401
0

1,060,392
519,673
35,532
0

1,104,648
531,013
38,820
0

176,389
568,032
39,451
0

237,414
9,782
172,461
42,518
0
12,653
413,134
217,186
195,948
49,999

190,279
3,940
97,230
59,729
0
29,380
416,556
115,949
300,607
66,666

217,792
2,687
96,358
80,597
0
38,150
537,833
206,439
331,394
35,145

316,076
2,118
175,988
100,254
0
37,716
391,354
359,226
32,128
282,758

49,999
256,739
116,400
116,400
0
140,339

66,666
226,730
116,400
116,400
0
110,330

35,145
175,827
116,400
116,400
0
59,427

282,758
209,996
116,400
116,400
0
93,596

450,221
318,543
131,678
422,571

713,618
401,236
312,382
681,352

766,597
382,003
384,594
750,005

731,132
663,490
67,642
689,658

27,650
15,189

32,266
28,495

16,592
33,129

41,474
19,474

(Thousand Rupees)
2009
2010
543,555
4,527
1,395,676
536,294
37,585
0
0
2,735
247,770
1,681
111,415
100,369
0
34,305
300,946
265,797
35,149
303,796
0
299,802
0
3,994
0
186,583
116,400
116,400
0
(203,808)
0
(203,808)
273,991

574,639
0
1,181,631
571,126
35,708
0
0
3,513
264,917
8,121
128,274
88,597
0
39,925
189,905
147,807
42,097
305,228
0
299,802
0
5,426
0
344,423
116,400
116,400
0
(93,426)
0
(93,426)
321,450
1,358,437
1,099,599
258,838
1,145,840
869,847
275,993
212,597
55,396
23,260
32,136
87,134
49,360
46,575
108,139
8,264
0
0
134,933

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(175)
2,117
0
0

(24,605)
4,713
0
0

(45,186)
5,781
0
0

(19,602)
3,666
0
0

868,203
812,314
55,889
815,897
599,358
216,540
52,306
17,816
9,395
8,421
60,240
58,073
56,479
(23,014)
419
0
0
82,793

306,738
0
(2,292)
217,186

293,396
0
(29,318)
115,949

210,972
0
(50,967)
206,439

492,754
0
(23,268)
359,226

490,379
0
(23,433)
265,797

649,652
0
99,875
147,807

0.13
2.85
9.44
0.63
0.57
93.86
1.80
-0.03
-0.09
-0.05

0.15
4.11
8.37
1.01
0.46
95.48
2.13
-3.44
-10.18
-8.20

0.15
3.83
10.51
1.02
0.40
97.84
3.26
-6.20
-22.45
-17.92

0.26
5.87
13.71
0.83
0.81
94.33
3.21
-2.40
-10.16
-5.57

0.34
6.69
11.56
1.10
0.82
93.98
3.24
-2.75
-11.61
-4.68

0.51
3.63
6.52
1.62
1.40
84.35
1.44
13.26
40.73
18.97

15,189

28,495

33,129

19,474

12,815

29,304

29,342

42,940

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

60

2.61

7.34

7.96

4.15

7.79
0.59
-2.65
0.14
-2.01
16.03

10.59
3.32
7.96
0.27
8.58
29.59

-0.04
0.00
-0.20
22.06

-3.45
0.00
-2.52
19.48

-5.89
0.00
-4.38
15.11

-2.68
0.00
-2.00
18.04

Financial Statement Analysis of Non Financial Sector 2010

Globe Textile Mills (OE) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

240,283

238,483

238,483

238,483

371,709
240,283
13,298
0

389,271
238,483
16,370
0

389,271
238,483
16,370
0

389,271
238,483
16,370
0

232,634
1,277
138,731
27,871
0
64,755
229,953
166,116
63,837
146,990

308,123
1,279
186,479
25,472
0
94,893
371,646
320,491
51,155
104,713

308,123
1,279
186,479
25,472
0
94,893
371,646
320,491
51,155
104,713

308,123
1,279
186,479
25,472
0
94,893
371,646
320,491
51,155
104,713

146,990
95,974
44,402
44,402
0
51,572

104,713
70,247
46,621
46,621
0
23,626

104,713
70,247
46,621
46,621
0
23,626

104,713
70,247
46,621
46,621
0
23,626

454,192
454,192
0
424,054

215,938
215,938
0
214,582

215,938
215,938
0
214,582

215,938
215,938
0
214,582

30,138
9,995

1,356
12,356

1,356
12,356

1,356
12,356

(Thousand Rupees)
2009
2010
181,178
0
377,366
174,515
18,626
0
0
6,663
133,343
194
15,267
36,740
0
81,142
119,516
70,557
48,959
184,189
105,002
79,187
0
0
0
10,816
46,621
46,621
0
(40,805)
0
(40,805)
5,000

173,123
4,455
378,676
160,093
17,219
0
0
8,575
84,567
123
16,274
23,773
0
44,397
67,998
18,406
49,592
168,660
91,942
76,718
0
0
0
21,033
46,621
46,621
0
(30,588)
0
(30,588)
5,000
390,301
390,301
0
346,080
239,832
106,248
44,221
19,955
1,960
17,996
43,706
13,005
12,102
12,177
1,959
4,662
0
60,374

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

7,483
1,995
0
0

(23,864)
1,100
0
0

(23,864)
1,100
0
0

(23,864)
1,100
0
0

206,893
206,893
0
183,194
104,008
79,186
23,699
11,441
1,416
10,025
25,998
11,674
11,376
752
0
0
0
29,649

242,964
0
5,488
166,116

174,960
0
(24,964)
320,491

174,960
0
(24,964)
320,491

174,960
0
(24,964)
320,491

195,005
105,002
752
175,559

189,693
91,942
5,555
110,347

0.13
2.85
6.14
0.96
1.01
93.36
3.93
1.68
8.64
3.57

0.07
11.83
11.80
0.40
0.83
99.37
6.78
-4.68
-28.71
-11.42

0.07
11.83
11.80
0.40
0.83
99.37
6.78
-4.37
-33.97
-13.64

0.07
11.83
11.80
0.40
0.83
99.37
6.78
-4.37
-33.97
-13.64

0.31
5.64
17.76
0.66
1.12
88.55
28.08
0.17
1.85
0.41

0.35
3.33
6.09
1.51
1.24
88.67
11.25
4.26
76.46
6.33
2.19
23.98
2.01
3.12
0.26
2.19
4.51

9,995

12,356

12,356

12,356

12,931

25,542

25,542

25,542

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

3.27

1.16

1.16

1.16

13.55
1.07
0.36
0.10
0.16
2.32

1.65
0.00
1.24
21.61

-11.05
0.00
-5.35
15.07

-11.05
0.00
-5.35
15.07

-11.05
0.00
-5.35
15.07

Financial Statement Analysis of Non Financial Sector 2010

Globe 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

2005

2006

2007

2008

918,498

883,965

717,305

603,483

1,717,122
918,498
45,312
0

1,730,701
883,965
55,658
0

1,455,757
717,305
95,801
0

1,159,160
603,483
32,979
0

1,166,845
2,753
829,413
170,182
0
164,497
1,079,238
828,050
251,188
367,504

537,995
443
246,815
76,225
0
214,512
927,693
591,402
336,291
408,418

143,421
1,813
0
53,439
0
88,169
343,341
20,718
322,623
534,000

136,614
14
0
53,209
0
83,391
320,376
21,276
299,100
460,483

367,504
638,601
155,880
155,880
0
482,721

408,418
85,849
163,674
163,674
0
(77,825)

534,000
(16,615)
163,674
163,674
0
(180,289)

460,483
(40,762)
163,674
163,674
0
(204,436)

837,782
498,749
339,033
749,526

499,508
346,271
153,237
590,118

219,739
219,739
0
301,265

0
0
0
43,216

88,256
28,652

(90,610)
368,537

(81,526)
13,349

(43,216)
10,179

(Thousand Rupees)
2009
2010
299,922
0
678,886
229,636
25,742
0
0
70,286
193,436
6,326
0
83,175
0
103,935
487
0
487
0
0
0
0
0
0
492,871
163,664
163,664
0
329,207
0
329,207
0

274,362
0
679,645
207,401
23,349
0
0
66,961
188,133
2,565
0
82,270
0
103,298
215
0
215
0
0
0
0
0
0
462,280
163,664
163,664
0
298,616
0
298,616
0
0
0
0
22,985
0
22,985
(22,985)
7,894
0
7,894
1,174
11
0
(30,591)
0
0
0
(2,648)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

6,168
3,861
0
0

(550,252)
2,500
0
0

(101,365)
1,099
0
0

(24,148)
0
0
0

0
0
0
42,376
0
42,376
(42,376)
50,885
10,108
40,777
18,998
0
0
533,633
0
0
0
43,778

1,006,105
0
2,307
828,050

494,267
0
(552,752)
591,402

517,385
0
(102,464)
20,718

419,721
0
(24,148)
21,276

492,871
0
533,633
0

462,280
0
(30,591)
0

0.16
6.49
20.31
0.40
1.08
89.47
2.27
0.32
1.38
0.84

0.08
18.91
15.26
0.35
0.58
118.14
15.56
-31.38
-151.91
-73.35

0.16
14.70
24.32
0.26
0.42
137.10
-52.80
-8.88
-292.82
-20.04

0.17

183.78

394.58

0.00
0.43

0.00
397.20

0.00
875.04

1.01

2.02

28,652

368,537

13,349

10,179

54,371

94,481

32,300

14,235

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.74
0.00
0.15
40.97

-110.16
0.00
-33.77
5.25

-46.13
0.00

-19.16
-3.02
84.17
-5.15

0.00
86.53
236.06
116.95

0.00
-6.40
-6.41
-6.41

0.00
-1.48
-2.49

89.89
32.61
30.11

-12.32
-1.87
28.25

Financial Statement Analysis of Non Financial Sector 2010

Gulistan 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

2005

2006

2007

2008

392,889

578,921

571,553

571,553

742,052
392,889
19,863
0

966,914
578,921
39,222
0

999,685
571,553
44,435
0

999,685
571,553
44,435
0

573,892
30,397
396,033
69,781
10,485
67,196
560,123
508,259
51,864
172,012

609,845
54,953
313,375
90,754
21,218
129,545
626,130
562,774
63,356
246,021

773,691
69,657
419,399
144,276
23,290
117,069
961,247
493,202
468,045
60,424

773,691
69,657
419,399
144,276
23,290
117,069
961,247
493,202
468,045
60,424

172,012
234,646
100,000
100,000
0
134,646

246,021
316,615
100,000
100,000
0
216,615

60,424
323,573
110,000
110,000
0
213,573

60,424
323,573
110,000
110,000
0
213,573

609,136
195,840
413,296
536,440

930,899
930,899
0
791,517

1,067,204
332,246
734,958
912,384

1,067,204
332,246
734,958
912,384

72,696
13,721

139,382
37,167

154,820
46,693

154,820
46,693

(Thousand Rupees)
2009
2010
1,611,351
1,790
2,703,649
1,416,972
70,139
0
178,715
13,875
2,678,802
161,034
1,825,395
467,208
488
224,678
2,801,111
2,485,633
315,478
502,727
192,019
250,000
0
24,924
35,784
986,315
168,372
168,372
0
574,207
66,000
508,207
243,736

1,624,272
990
2,738,040
1,384,946
67,908
0
225,069
13,267
2,905,887
41,705
1,958,569
653,569
0
252,044
2,968,813
2,625,735
343,079
473,232
134,820
250,000
0
26,116
62,296
1,088,113
185,209
185,209
0
659,169
66,000
593,169
243,736
3,757,221
1,748,861
2,008,360
2,986,686
2,363,779
622,907
770,535
160,443
97,834
62,610
184,374
459,220
439,930
161,524
31,547
18,521
37,042
(127,509)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

18,443
5,232
0
0

22,475
9,621
0
10,000

(288,930)
10,939
0
0

(288,930)
10,939
0
0

2,613,487
1,058,629
1,554,858
2,073,365
1,634,660
438,706
540,122
125,825
84,292
41,533
174,149
383,370
363,957
38,478
15,570
0
16,837
485,881

406,658
0
13,211
508,259

562,636
0
12,854
562,774

383,997
0
(299,869)
493,202

383,997
0
(299,869)
493,202

1,489,042
192,019
22,908
2,677,653

1,561,345
134,820
111,456
2,760,555

0.20
6.67
11.46
0.63
1.02
88.07
3.12
2.00
8.07
4.81

0.27
9.36
9.75
0.78
0.97
85.03
2.75
2.09
8.15
4.64

0.25
37.87
13.52
0.79
0.80
85.49
3.16
-22.80
-90.26
-61.04

0.25
37.87
13.52
0.79
0.80
85.49
3.16
-21.48
-89.29
-75.24

0.22
14.67
17.88
0.61
0.96
79.33
3.35
1.37
5.87
4.11

0.23
12.22
17.40
0.83
0.98
79.49
3.16
3.66
15.57
10.59
7.02
1.92
1.37
4.30
-0.04
7.02
58.75

13,721

37,167

46,693

46,693

40,650

87,165

404,165

404,165

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

1.54

2.97

2.54

2.54

1.43
1.11
1.47
0.15
1.36
58.58

3.03
0.00
1.32
23.46

2.41
0.00
1.29
31.66

-27.07
0.00
-27.26
29.42

-27.07
0.00
-27.26
29.42

Financial Statement Analysis of Non Financial Sector 2010

Gulistan 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

2005

2006

2007

2008

1,476,002

1,780,266

1,978,518

2,080,377

2,680,290
1,476,002
88,123
0

3,100,811
1,780,266
135,370
0

3,238,591
1,978,518
140,275
0

3,504,987
2,080,377
89,610
0

2,603,640
38,669
1,407,531
647,667
363,580
146,193
2,362,672
2,137,779
224,893
648,686

3,976,778
34,845
1,573,239
724,447
1,284,914
359,333
2,656,383
2,273,983
382,400
841,045

4,660,688
55,402
1,891,974
896,134
1,460,487
356,691
3,402,749
2,524,293
878,456
756,803

5,741,601
28,828
2,872,063
992,689
1,488,884
359,137
4,660,372
3,380,024
1,280,348
629,293

52,925

595,761
1,068,284
126,360
126,360
0
941,924

841,045
2,259,616
132,678
132,678
0
2,126,938

756,803
2,479,654
145,946
145,946
0
2,333,708

629,293
2,532,313
160,540
160,540
0
2,371,773

2,705,562
1,502,756
1,202,806
2,414,953

3,651,710
3,651,710
0
3,082,886

4,326,440
2,900,365
1,426,075
3,756,533

5,249,821
3,517,474
1,732,347
4,513,108

290,609
56,413

568,824
136,451

569,907
169,914

736,713
154,278

(Thousand Rupees)
2009
2010
3,596,318
79,518
3,658,255
2,071,643
95,536
0
1,411,433
33,724
5,680,768
56,809
4,098,002
1,202,179
0
323,779
5,897,064
5,168,809
728,255
867,389
708,593
0
0
50,983
107,813
2,512,633
172,581
172,581
0
1,828,499
379,080
1,449,419
511,553

3,862,593
50,116
3,952,691
2,270,113
97,243
0
1,499,843
42,521
5,659,765
62,625
3,765,348
1,417,133
0
414,659
5,428,899
4,704,055
724,844
1,358,004
1,150,298
0
0
57,636
150,069
2,735,455
189,839
189,839
0
2,034,063
379,080
1,654,983
511,553
7,280,609
4,800,943
2,479,666
6,000,694
4,914,106
1,086,589
1,279,914
201,755
95,394
106,361
350,613
876,279
824,761
311,729
49,563
18,984
0
302,116

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

70,474
15,335
9,477
0

97,151
18,680
0
13,268

58,447
21,626
0
0

124,379
26,242
0
112,823

5,245,328
3,669,867
1,575,461
4,197,949
3,518,791
679,157
1,047,379
233,361
86,215
147,146
275,696
832,459
772,542
27,837
15,543
0
17,258
(1,197,715)

1,716,970
52,925
45,662
2,190,704

3,100,661
0
78,471
2,273,983

3,236,457
0
36,821
2,524,293

3,161,606
0
98,137
3,380,024

3,380,022
708,593
12,294
5,877,402

4,093,459
1,150,298
243,182
5,854,353

0.21
15.87
22.92
0.57
0.96
80.03
2.69
0.33
1.10
0.85

0.27
12.04
19.46
0.76
1.04
82.42
2.48
3.32
11.88
8.34
13.81
1.93
1.38
4.28
0.04
13.81
144.09

56,413

136,451

169,914

154,278

180,260

350,335

401,355

535,671

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.44
6.66
23.94
0.66
1.10
89.26
2.82
1.83
6.97
4.31
5.82
1.92

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

64

0.77
9.59
19.84
0.63
1.50
84.42
1.55
1.98
5.84
4.03

0.71
9.28
20.71
0.65
1.37
86.83
1.68
0.94
2.47
1.84

0.54
10.20
18.91
0.67
1.23
85.97
2.09
1.72
4.96
3.89

2.32

2.29

1.83

1.28
1.04
0.53
-0.18
0.71
145.59

2.60
0.00
4.36
84.54

2.66
0.00
5.91
170.31

1.35
0.00
2.52
169.90

2.37
0.00
6.11
157.74

Financial Statement Analysis of Non Financial Sector 2010

Gulshan 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

2005

2006

2007

2008

1,206,850

1,487,422

1,464,102

1,443,232

2,159,711
1,206,850
71,347
0

2,545,043
1,487,422
108,777
0

2,604,072
1,463,795
118,022
307

2,654,081
1,443,079
68,656
153

1,373,237
21,473
936,836
298,837
26,329
89,762
1,338,739
1,180,284
158,455
630,106

1,589,892
74,116
815,367
393,426
126,595
180,388
1,547,272
1,346,690
200,582
645,582

1,926,477
88,787
1,159,662
370,112
106,003
201,913
2,006,926
1,233,823
773,103
466,146

2,157,997
129,190
1,302,405
397,970
107,493
220,939
2,043,394
1,250,779
792,615
592,691

127,862

502,244
611,242
126,500
126,500
0
484,742

645,582
884,460
126,500
126,500
0
757,960

466,146
917,507
139,150
139,150
0
778,357

592,691
965,144
153,065
153,065
0
812,079

1,658,635
903,997
754,638
1,481,051

2,304,952
1,140,115
1,164,837
1,959,615

2,003,865
643,093
1,360,772
1,653,375

2,210,913
670,842
1,540,071
1,805,055

177,584
40,031

345,337
87,855

350,490
105,479

405,858
95,950

(Thousand Rupees)
2009
2010
1,611,351
1,790
2,703,649
1,416,972
70,139
0
178,715
13,875
2,678,802
161,034
1,825,395
467,208
488
224,678
2,801,111
2,485,633
315,478
502,727
192,019
250,000
0
24,924
35,784
986,315
168,372
168,372
0
574,207
66,000
508,207
243,736

1,624,272
990
2,738,040
1,384,946
67,908
0
225,069
13,267
2,905,887
41,705
1,958,569
653,569
0
252,044
2,968,813
2,625,735
343,079
473,232
134,820
250,000
0
26,116
62,296
1,088,113
185,209
185,209
0
659,169
66,000
593,169
243,736
3,757,221
1,748,861
2,008,360
2,986,686
2,363,779
622,907
770,535
160,443
97,834
62,610
184,374
459,220
439,930
161,524
31,547
18,521
37,042
(127,509)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

42,728
9,572
9,488
0

59,045
14,625
0
12,650

28,859
20,292
0
0

62,389
15,091
0
13,915

2,613,487
1,058,629
1,554,858
2,073,365
1,634,660
438,706
540,122
125,825
84,292
41,533
174,149
383,370
363,957
38,478
15,570
0
16,837
485,881

1,241,348
127,862
23,668
1,308,146

1,530,042
0
44,420
1,346,690

1,383,653
0
8,567
1,233,823

1,557,835
0
47,298
1,250,779

1,489,042
192,019
22,908
2,677,653

1,561,345
134,820
111,456
2,760,555

0.22
14.67
17.88
0.61
0.96
79.33
3.35
0.98
3.94
2.53

0.23
12.22
17.40
0.83
0.98
79.49
3.16
3.66
15.57
10.59
7.02
1.92
1.37
4.30
-0.04
7.02
58.75

40,031

87,855

105,479

95,950

100,428

206,483

229,426

253,701

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.26
6.05
18.02
0.64
1.03
89.29
3.22
1.79
7.13
3.67
3.49
1.77

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.38
8.96
17.07
0.75
1.03
85.02
2.48
2.09
7.90
4.26

0.28
11.45
18.47
0.59
0.96
82.51
2.70
0.89
3.20
1.98

0.31
11.47
18.00
0.61
1.06
81.64
2.73
1.78
6.63
4.24

2.83

1.73

1.70

1.43
1.11
1.47
0.15
1.36
58.58

2.58
0.00
2.62
48.32

2.56
0.00
3.51
69.92

1.44
0.00
0.62
65.94

2.82
0.00
3.09
63.05

Financial Statement Analysis of Non Financial Sector 2010

Hafiz 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

2005

2006

2007

2008

92,321

91,849

170,581
92,321
1,791
0

171,690
91,849
92,321
0

2,754
216
0
484,100
0
(481,562)
76,481
75,552
929
126,756

2,366
725
0
0
1
1,640
102,025
0
102,025
0

126,756
(108,162)
12,000
12,000
0
(120,162)

0
(7,810)
12,000
12,000
0
(19,810)

0
0
0
0

0
0
0
0

0
4,260

0
3,374

(Thousand Rupees)
2009
2010
90,150
0
171,705
90,150
1,714
0
0
0
983
394
0
0
0
589
5,680
0
5,680
86,740
0
86,277
0
463
0
(1,286)
12,000
12,000
0
(108,071)
0
(108,071)
94,785

88,997
0
172,358
88,997
1,806
0
0
0
3,376
2,598
0
0
0
779
7,249
0
7,249
83,204
0
82,722
0
482
0
1,920
12,000
12,000
0
(103,726)
0
(103,726)
93,646
0
0
0
0
0
0
0
4,121
0
4,121
630
15
0
3,962
775
0
0
6,489

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

469
236
0
0

1,128
221
0
0

0
0
0
0
0
0
0
4,411
0
4,411
621
20
0
7,189
665
900
0
(56,950)

18,594
0
233
75,552

(7,810)
0
907
0

85,454
0
5,624
0

85,124
0
3,188
0

6.33

0.01

0.07

0.36

0.00
0.04

0.00
0.02

0.00
0.17

0.00
0.47

4,260

3,374

10

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

-1.88
0.49
-0.43
2.52

-13.06
1.19
-1.95
20.92

47.11
4.32
1,249.77
4.65

-71.87
7.76
-158.08
18.52
7.25

0.00
0.19
-90.14

0.00
0.76
-6.51

-0.62
5.44
-1.07

0.07
2.66
1.60

Financial Statement Analysis of Non Financial Sector 2010

Haji Mohammad Ismail 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

2005

2006

2007

2008

176,186

162,796

221,673

218,741

278,531
161,685
8,231
14,501

289,040
162,796
12,368
0

367,491
221,673
20,143
0

367,491
218,741
5,762
0

214,365
620
148,131
31,989
21,538
12,087
222,971
101,480
121,491
16,423

209,119
1,409
105,988
31,433
16,941
53,348
211,037
144,606
66,431
10,295

129,418
2,200
64,229
26,420
0
36,569
173,736
80,280
93,456
3,283

70,142
135
27,873
21,204
0
20,930
125,366
46,320
79,046
21,621

16,423
151,157
99,792
99,792
0
51,365

10,295
150,583
99,792
99,792
0
50,791

3,283
174,072
119,750
119,750
0
54,322

21,621
141,896
119,750
119,750
0
22,146

366,120
334,913
31,207
354,149

625,295
520,904
104,391
604,962

265,277
248,779
16,498
247,839

70,504
70,504
0
79,476

11,971
6,296

20,333
14,613

17,438
12,702

(8,972)
4,697

(Thousand Rupees)
2009
2010
211,308
0
250,330
210,697
8,044
0
0
611
43,591
665
1,529
26,852
0
14,545
59,378
40,921
18,457
70,070
32,963
14,516
0
215
22,376
125,451
119,750
119,750
0
(54,316)
0
(54,316)
60,017

205,225
0
253,526
204,614
6,127
0
0
611
46,343
3,588
787
28,713
0
13,256
62,825
40,925
21,900
60,229
32,963
13,216
0
199
13,851
128,513
119,750
119,750
0
(49,138)
0
(49,138)
57,901
27,900
27,900
0
27,467
743
26,724
433
1,759
0
1,759
2,622
4,206
3,757
(5,322)
139
0
0
4,262

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,048
1,645
1,724
0

9,853
3,126
0
0

(33,691)
1,326
0
0

(22,910)
353
0
0

45,779
45,779
0
46,439
14,761
31,678
(660)
2,651
58
2,593
2,539
9,962
9,750
(13,266)
0
0
0
7,830

167,580
0
1,679
101,480

160,878
0
6,727
144,606

177,355
0
(35,017)
80,280

163,517
0
(23,263)
46,320

195,520
32,963
(13,266)
73,884

188,742
32,963
(5,461)
73,888

0.24
0.19
8.74
0.94
0.96
96.73
1.58
1.38
3.54
3.08
1.97
2.47

0.24
0.60
5.03
1.68
0.99
96.75
1.47
2.58
6.53
6.00

0.16
14.49
9.96
0.76
0.74
93.43
1.02
-9.32
-20.75
-19.92

0.17
13.12
30.07
0.24
0.56
112.73
1.04
-7.16
-14.50
-13.44

0.46
21.76
58.66
0.18
0.73
101.44
1.03
-4.88
-9.92
-7.39

0.51
15.07
102.91
0.11
0.74
98.45
0.96
-2.10
-4.19
-2.77

6,296

14,613

12,702

4,697

705

3,751

38,440

9,253

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

67

5.90

4.13

2.53

29.94
-0.36
-28.98
0.06
-1.11
10.48

35.47
-0.42
-19.08
0.03
-0.46
10.73

1.38
0.00
0.34
15.15

1.58
0.00
0.67
15.09

-12.70
0.00
-2.92
14.54

-32.49
0.00
-1.94
11.85

Financial Statement Analysis of Non Financial Sector 2010

Hajra 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

2005

2006

2007

2008

451,503

449,467

433,417

537,276

704,459
451,503
12,345
0

721,524
449,467
19,101
0

724,305
433,417
19,197
0

724,413
537,276
18,474
0

118,536
7,059
91,527
2,081
4,976
12,893
320,123
88,528
231,595
220,605

140,350
30,067
52,210
12,577
4,976
40,520
505,264
70,308
434,956
34,583

160,011
35,648
60,766
10,479
5
53,113
590,045
70,346
519,699
24,656

142,351
4,283
86,696
6,311
3
45,058
547,014
86,510
460,504
196,487

220,605
29,311
68,750
68,750
0
(39,439)

34,583
49,970
137,500
137,500
0
(87,530)

24,656
(21,273)
137,500
137,500
0
(158,773)

196,487
(63,874)
137,500
137,500
0
(201,374)

563,514
563,514
0
562,121

624,106
624,106
0
622,340

507,492
507,492
0
554,365

665,164
665,164
0
667,492

1,393
9,798

1,766
15,539

(46,873)
12,783

(2,328)
26,485

(Thousand Rupees)
2009
2010
525,962
0
853,895
522,409
22,613
0
2
3,551
192,453
1,134
31,236
4,964
0
155,119
299,834
131,307
168,527
566,624
168,605
321,649
0
1,999
74,370
(148,043)
137,500
137,500
0
(377,692)
10,313
(388,004)
92,149

508,354
0
858,446
504,801
22,160
0
2
3,551
196,457
1,000
22,134
6,385
0
166,938
299,851
130,055
169,795
578,021
169,742
339,448
0
1,683
67,148
(173,062)
137,500
137,500
0
(398,303)
10,313
(408,615)
87,741
1,007,563
1,007,563
0
992,832
762,879
229,953
14,731
14,698
3,247
11,451
86,494
27,226
25,993
(27,193)
5,047
0
0
(11,532)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(19,242)
2,475
0
0

29,788
3,121
0
0

(69,047)
2,537
0
0

(43,188)
3,326
0
0

776,073
776,073
0
782,176
598,177
183,999
(6,103)
37,906
6,084
31,822
83,741
35,019
32,719
(79,028)
0
0
0
(42,346)

249,916
0
(21,717)
88,528

84,553
0
26,667
70,308

3,383
0
(71,584)
70,346

132,613
0
(46,514)
86,510

418,581
168,605
(79,028)
299,912

404,960
169,742
(32,240)
299,797

0.08
1.85
2.06
0.86
0.27
109.24
-28.90
-11.67
-481.21
-157.04

0.02
2.26
0.95
0.98
0.26
100.35
-11.64
-6.78
101.44
-63.51

0.02
4.51
0.64
1.08
0.64
100.79
-5.85
-11.31
74.58
-28.68

0.02
2.70
0.63
1.43
0.66
98.54
-5.07
-3.82
16.94
-6.60

9,798

15,539

12,783

26,485

11,029

13,211

9,391

15,003

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.04
1.96
0.37
0.99
0.37
99.75
18.45
-3.49
-49.89
-7.45

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.09
2.12
2.02
1.06
0.28
99.72
10.80
5.14
75.15
17.81

6.16

11.95

8.35

7.67

24.85
-1.42
-10.18
-0.05
-5.75
-10.77

45.52
-0.05
-2.70
-0.01
-2.34
-12.59

-3.41
0.00
-3.16
4.26

4.77
0.00
1.94
3.63

-13.61
0.00
-5.21
-1.55

-6.49
0.00
-3.38
-4.65

Financial Statement Analysis of Non Financial Sector 2010

Hala Enterprises Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

66,761

120,818

114,784

115,265

139,022
66,761
5,452
0

199,178
120,818
6,099
0

199,095
114,444
6,879
340

204,192
115,265
6,981
0

175,044
621
59,097
41,117
874
73,335
170,966
94,895
76,071
34,036

211,688
1,500
86,332
39,824
1,572
82,460
247,421
132,735
114,686
28,042

195,347
1,099
87,696
31,265
1,142
74,145
225,140
83,987
141,153
14,850

192,807
620
89,664
20,895
1,591
80,037
181,591
86,981
94,610
68,413

34,036
36,803
37,800
37,800
0
(997)

28,042
57,043
37,800
37,800
0
19,243

14,850
70,141
37,800
37,800
0
32,341

68,413
58,068
37,800
37,800
0
20,268

365,036
11,052
353,984
270,508

391,344
15,953
375,391
295,561

458,727
21,061
437,666
358,863

429,153
20,252
408,901
358,002

94,528
70,796

95,783
74,005

99,864
70,275

71,151
66,186

(Thousand Rupees)
2009
2010
115,570
0
204,384
109,261
6,704
0
2,195
4,114
189,328
1,445
90,763
42,598
0
54,523
182,928
104,502
78,426
54,103
3,715
9,378
0
38,830
2,181
67,868
37,800
37,800
0
(29,007)
3,596
(32,603)
59,075

120,020
0
213,409
114,144
7,162
0
1,762
4,114
189,804
2,650
79,561
38,230
0
69,362
188,980
85,701
103,278
51,836
1,992
5,402
0
43,901
541
69,009
37,800
37,800
0
(26,328)
3,163
(29,490)
57,536
584,908
34,914
549,994
492,217
259,832
232,385
92,691
76,939
42,799
34,140
75,165
16,624
10,517
7,250
5,677
0
0
33,797

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

18,800
2,615
0
0

10,638
3,721
3,780
0

8,348
4,419
0
0

(8,408)
4,114
0
0

454,602
19,777
434,825
348,181
176,768
171,413
106,421
72,869
45,279
27,590
67,090
20,434
14,220
13,588
4,391
0
0
17,115

70,839
0
16,185
94,895

85,085
0
3,137
132,735

84,991
0
3,929
83,987

126,481
0
(12,522)
86,981

121,971
3,715
9,197
108,217

120,844
1,992
1,573
87,693

0.17
3.97
10.18
1.18
0.86
75.52
4.83
3.70
22.67
13.65
1.83
4.53

0.15
4.63
6.82
1.48
0.87
78.23
3.42
2.60
13.13
9.82

0.13
4.44
4.87
1.39
1.06
83.42
4.31
-2.72
-13.12
-7.95

0.24
4.49
9.37
1.49
1.03
76.59
3.49
4.43
21.58
10.94

0.22
2.84
6.54
1.89
1.00
84.15
3.49
2.36
10.59
5.97

70,796

74,005

70,275

66,186

7,239

15,545

21,241

19,071

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.25
1.98
11.26
1.51
1.02
74.10
5.57
8.25
70.10
26.14

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

6.18

69

5.23

4.79

5.01
1.96
2.99
0.07
2.43
17.95

7.35
1.69
1.24
0.14
0.42
18.26

5.15
0.00
4.28
9.74

2.72
0.00
1.83
15.09

1.82
0.00
1.04
18.56

-1.96
0.00
-3.31
15.36

Financial Statement Analysis of Non Financial Sector 2010

Hamid 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

2005

2006

2007

2008

225,653

213,777

197,916

197,916

315,762
225,653
10,675
0

317,473
213,777
14,063
0

294,640
197,916
12,555
0

294,640
197,916
12,555
0

126,864
483
70,151
29,902
0
26,328
252,733
108,689
144,044
56,916

169,591
38
94,993
37,733
0
36,827
309,887
153,160
156,727
48,515

132,413
791
70,740
28,775
0
32,107
502,427
127,745
374,682
39,195

132,413
791
70,740
28,775
0
32,107
502,427
127,745
374,682
39,195

56,916
42,868
132,716
132,716
0
(89,848)

48,515
24,966
132,716
132,716
0
(107,750)

39,195
(211,293)
132,716
132,716
0
(344,009)

39,195
(211,293)
132,716
132,716
0
(344,009)

314,071
266,659
47,412
319,631

392,861
375,903
16,958
380,991

380,935
367,832
13,103
383,434

380,935
367,832
13,103
383,434

(5,560)
7,701

11,870
10,692

(2,499)
19,167

(2,499)
19,167

(Thousand Rupees)
2009
2010
190,675
4,498
324,077
186,177
11,768
0
0
0
80,425
620
46,252
15,023
0
18,530
249,117
82,659
166,457
256,496
20,469
225,886
0
10,142
0
(234,512)
132,716
132,716
0
(442,642)
0
(442,642)
75,414

258,629
142
407,641
258,487
11,799
0
0
0
77,182
2,995
36,429
15,630
0
22,129
267,984
76,125
191,859
244,005
12,515
225,886
0
5,604
0
(176,177)
132,716
132,716
0
(456,392)
0
(456,392)
147,499
326,255
326,255
0
326,997
226,144
100,853
(742)
12,454
2,799
9,655
34,079
12,090
11,869
(16,499)
1,683
0
0
(7,164)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(20,933)
1,398
0
0

(17,541)
1,951
0
0

4,070
1,895
0
0

4,070
1,895
0
0

250,142
250,142
0
272,022
176,497
95,525
(21,880)
10,432
1,600
8,832
30,581
14,902
14,646
68,660
618
0
0
100,909

99,784
0
(22,331)
108,689

73,481
0
(19,492)
153,160

(172,098)
0
2,175
127,745

(172,098)
0
2,175
127,745

21,984
20,469
68,042
103,128

67,827
12,515
(18,182)
88,640

0.12
2.44
9.52
0.89
0.50
101.77
7.22
-6.16
34.63
-1,061.24

0.12
4.79
9.60
1.02
0.55
96.98
14.36
-4.77
-51.72
-20.25

0.06
5.23
7.55
1.15
0.26
100.66
-2.56
1.14
-4.37
-8.25

0.06
5.23
7.55
1.15
0.26
100.66
-2.56
1.23
-1.93
-2.36

0.06
5.96
6.01
0.92
0.32
108.75
-2.16
22.83
-30.80
-91.48

0.07
3.71
4.79
0.97
0.29
100.23
-2.91
-5.44
8.03
-36.74

7,701

10,692

19,167

19,167

7,678

18,830

19,931

19,931

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

70

4.48

4.14

5.39

5.39

5.41
5.69
27.45
0.20
5.13
-17.67

8.96
-0.39
-5.06
-0.01
-1.37
-13.27

-6.67
0.00
-1.68
3.23

-4.46
0.00
-1.47
1.88

1.07
0.00
0.16
-15.92

1.07
0.00
0.16
-15.92

Financial Statement Analysis of Non Financial Sector 2010

Hira 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

2005

2006

2007

2008

1,563,628

1,729,140
1,176,068
553,072
1,471,236

(Thousand Rupees)
2009
2010
1,758,241
0
2,144,825
1,500,810
79,606
0
247,653
9,779
1,465,223
17,586
1,214,811
136,600
0
96,226
1,729,143
1,383,611
345,532
365,014
295,752
0
0
69,263
0
1,129,306
715,520
715,520
0
347,894
0
347,894
65,893

1,789,023
0
2,201,618
1,480,325
78,878
0
294,863
13,836
1,567,817
6,021
1,333,960
79,498
0
148,338
1,710,386
1,380,294
330,091
268,321
186,297
0
0
82,024
0
1,378,134
715,520
715,520
0
596,722
0
596,722
65,893

2,524,728
1,660,526
864,202
2,132,457
1,355,538
776,919
392,271
81,231
41,594
39,637
152,248
341,029
333,108
12,232
10,355
0
0
288,961

3,116,909
1,379,686
1,737,223
2,508,119
1,815,275
692,844
608,790
114,902
42,834
72,068
198,376
263,526
253,884
277,578
19,575
71,552
0
163,685

1,527,156
0
54,889
941,044

1,494,321
295,752
1,878
1,679,363

1,646,455
186,297
186,451
1,566,592

0.23
9.88
10.85
0.53
0.98
85.08
1.89
1.95
5.63
4.16

0.09
13.51
5.41
0.78
0.85
84.46
1.85
0.38
1.08
0.81

0.05
8.45
2.55
0.93
0.92
80.47
1.44
8.44
22.14
17.68
3.61
2.34
2.09
8.91
0.08
3.61
19.26

2,130,507
1,563,628
69,087
0

1,697,964
2,080
1,198,999
187,558
208,237
101,090
1,734,436
941,044
793,392
399,298

399,298
1,127,858
715,520
715,520
0
412,338

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

257,904
24,079

24,079

170,805

63,517
8,628
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

1.44

2.08
1.04
0.48
0.14
0.03
15.78

3.67
0.00
0.77
15.76

Financial Statement Analysis of Non Financial Sector 2010

Husein 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

2005

2006

2007

2008

524,270

484,704

481,297

465,285

1,138,272
524,270
48,631
0

1,154,076
484,704
55,800
0

1,201,590
481,297
50,922
0

1,231,652
465,285
46,526
0

1,303,020
8,902
593,831
613,114
453
86,720
1,354,845
812,742
542,103
0

1,207,656
8,709
610,017
475,819
499
112,612
1,032,997
626,867
406,130
225,556

1,489,134
4,815
800,063
538,406
0
145,850
1,320,466
720,553
599,913
234,437

1,505,489
4,237
801,381
554,540
0
145,331
1,428,434
707,845
720,589
144,936

0
472,445
106,259
106,259
0
366,186

225,556
433,807
106,258
106,258
0
327,549

234,437
415,528
106,258
106,258
0
309,270

144,936
397,404
106,258
106,258
0
291,146

959,276
519,866
439,410
827,635

1,028,202
733,821
294,381
905,672

1,155,170
561,123
594,047
992,130

1,089,447
468,004
621,443
939,386

131,641
63,889

122,530
55,056

163,040
73,252

150,061
55,926

(Thousand Rupees)
2009
2010
452,623
0
1,194,971
442,833
57,415
0
476
9,314
1,574,391
1,306
797,817
614,060
0
161,208
1,365,081
999,438
365,643
277,135
248,818
0
0
11,636
16,682
384,798
106,259
106,259
0
278,539
33,858
244,682
0

415,678
0
1,197,217
391,483
53,596
0
641
23,554
1,433,370
8,390
566,958
675,904
0
182,119
1,249,685
943,372
306,312
352,789
340,300
0
0
12,489
0
246,575
106,259
106,259
0
140,317
33,858
106,459
0
1,169,922
536,014
633,908
1,114,647
510,384
604,263
55,275
66,771
30,452
36,319
113,609
164,521
154,727
(161,151)
7,982
0
0
(26,088)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

36,910
4,500
21,252
0

(8,984)
5,150
0
0

(8,396)
7,437
0
0

(16,300)
1,777
0
0

1,395,273
248,055
1,147,218
1,167,447
718,539
448,908
227,826
55,380
27,445
27,935
124,101
160,852
155,163
13,643
6,786
0
0
(291,988)

472,445
0
11,158
812,742

659,363
0
(14,134)
626,867

649,965
0
(15,833)
720,553

542,340
0
(18,077)
707,845

661,933
248,818
6,857
1,248,255

599,364
340,300
(169,132)
1,283,672

0.46
3.38
63.91
0.52
0.96
86.28
2.87
2.10
8.06
8.06
1.53
1.62

0.47
7.52
46.28
0.61
1.17
88.08
2.90
-0.51
-1.98
-1.59

0.41
8.52
46.61
0.59
1.13
85.89
3.74
-0.46
-1.98
-1.28

0.39
10.15
50.90
0.55
1.05
86.23
3.96
-0.83
-4.01
-2.73

0.45
11.53
44.01
0.69
1.15
83.67
4.27
0.68
3.49
2.27

0.55
14.06
57.77
0.63
1.15
95.28
6.50
-8.32
-51.05
-25.55

63,889

55,056

73,252

55,926

32,391

77,270

98,364

110,633

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

1.69

1.44

1.36

1.75
1.09
0.98
-0.18
0.65
36.21

2.06
-0.04
-13.77
-0.02
-15.92
23.21

3.85
0.00
3.05
44.46

-0.87
0.00
-1.33
40.83

-0.73
0.00
-1.49
39.11

-1.50
0.00
-1.70
37.40

Financial Statement Analysis of Non Financial Sector 2010

ICC 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

2005

2006

2007

2008

557,798

725,620

682,190

636,685

866,224
557,798
20,644
0

1,088,457
725,620
55,706
0

1,091,003
682,190
53,129
0

1,102,165
636,685
49,419
0

437,058
23,709
225,968
143,716
0
43,665
579,918
411,008
168,910
233,179

453,546
24,725
237,417
119,217
0
72,187
663,438
471,487
191,951
189,001

485,357
10,212
246,705
160,088
0
68,352
777,767
491,395
286,372
141,271

428,418
12,100
179,872
164,503
0
71,943
830,722
465,653
365,069
147,791

233,179
181,759
100,008
100,008
0
81,751

189,001
326,727
100,008
100,008
0
226,719

141,271
248,509
100,008
100,008
0
148,501

147,791
86,590
100,008
100,008
0
(13,418)

540,241
296,156
244,085
481,556

1,205,186
663,819
541,367
1,101,371

1,223,415
778,036
445,379
1,151,496

1,248,698
830,205
418,493
1,268,239

58,685
32,734

103,815
61,567

71,919
62,153

(19,541)
46,662

(Thousand Rupees)
2009
2010
1,045,604
0
1,059,602
1,043,457
1,169
0
0
2,147
412,174
5,914
212,652
122,429
0
71,179
629,102
487,762
141,340
513,143
128,596
209,153
0
30,461
144,933
315,533
100,008
100,008
0
(279,881)
0
(279,881)
495,407

999,661
0
1,063,623
997,659
995
0
0
2,002
381,991
6,113
228,873
60,212
0
86,793
736,525
515,952
220,573
474,732
95,943
209,153
0
33,853
135,783
170,395
100,008
100,008
0
(408,027)
0
(408,027)
478,414
1,522,531
1,041,063
481,468
1,511,140
1,156,194
354,946
11,391
45,483
20,104
25,380
87,389
110,899
107,887
(144,207)
10,081
0
0
(15,890)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

11,353
3,155
0
0

(25,909)
6,754
0
0

(72,166)
6,052
0
0

(155,760)
6,159
0
0

1,331,862
910,269
421,593
1,242,908
949,367
293,541
88,954
44,477
20,458
24,020
82,533
114,720
111,754
(69,801)
4,216
0
0
3,874

414,938
0
8,198
411,008

515,728
0
(32,663)
471,487

389,780
0
(78,218)
491,395

234,381
0
(161,919)
465,653

828,676
128,596
(74,017)
616,358

645,127
95,943
(154,288)
611,895

0.29
3.13
26.60
0.54
0.75
89.14
4.47
1.45
6.41
3.45

0.22
5.81
9.89
1.02
0.68
91.39
2.61
-2.38
-10.19
-5.57

0.22
6.73
13.09
1.05
0.62
94.12
3.70
-6.15
-25.09
-15.94

0.21
7.17
13.17
1.17
0.52
101.56
11.30
-13.95
-92.96
-49.91

0.20
8.61
9.19
0.91
0.66
93.32
3.62
-5.53
-34.72
-13.13

0.09
7.28
3.95
1.10
0.52
99.25
7.11
-10.16
-59.35
-19.57

32,734

61,567

62,153

46,662

16,927

70,029

82,376

89,557

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

73

2.39

5.08

4.96

6.94

6.26
0.38
-5.24
0.00
-7.40
31.55

6.65
-0.34
-9.47
-0.01
-15.43
17.04

2.10
0.00
0.82
18.17

-2.15
0.00
-3.27
32.67

-5.90
0.00
-7.82
24.85

-12.47
0.00
-16.19
8.66

Financial Statement Analysis of Non Financial Sector 2010

Ideal 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

2005

2006

2007

2008

404,720

539,598

560,418

584,889

704,389
404,720
17,314
0

869,279
539,598
31,563
0

931,910
560,418
43,658
0

989,022
584,889
45,638
0

158,340
6,023
78,475
47,357
0
26,485
170,870
130,624
40,246
250,457

175,929
12,081
86,914
27,467
0
49,467
244,866
164,147
80,719
347,793

172,415
39,507
80,966
26,563
0
25,379
296,033
86,900
209,133
326,261

260,318
6,591
179,234
39,905
0
34,588
470,014
170,223
299,791
301,270

250,457
141,733
99,200
99,200
0
42,533

347,793
122,868
99,200
99,200
0
23,668

326,261
110,539
99,200
99,200
0
11,339

301,270
73,923
99,200
99,200
0
(25,277)

583,463
583,463
0
547,879

694,038
694,038
0
626,519

800,244
800,244
0
734,163

985,088
985,088
0
938,533

35,584
17,114

67,519
23,098

66,081
24,957

46,555
35,851

(Thousand Rupees)
2009
2010
565,992
0
65,153
563,078
4,901
0
0
2,914
174,247
3,259
90,301
54,401
0
26,286
250,710
175,167
75,543
460,929
208,422
245,675
0
6,832
0
28,600
99,200
99,200
0
(70,600)
0
(70,600)
0

544,946
400
65,153
541,632
2,811
0
0
2,914
234,918
26,997
83,985
80,355
0
43,581
285,047
193,428
91,619
388,272
114,360
234,225
0
8,020
31,667
106,545
99,200
99,200
0
7,345
0
7,345
0
1,475,987
1,472,502
3,485
1,246,183
943,641
302,542
229,804
53,052
8,068
44,984
131,177
60,729
59,127
117,023
7,411
0
0
134,480

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,254
2,569
0
0

12,750
3,612
0
0

(13,426)
4,285
0
0

(45,268)
4,925
0
0

1,111,393
1,111,393
0
1,050,120
781,381
268,739
61,273
37,912
5,439
32,473
101,889
71,792
70,449
(47,391)
0
0
0
83,988

392,190
0
2,685
130,624

470,661
0
9,138
164,147

436,800
0
(17,711)
86,900

375,193
0
(50,193)
170,223

489,529
208,422
(47,391)
383,589

494,817
114,360
109,612
307,788

0.31
2.31
8.12
1.04
0.93
93.90
2.97
1.16
3.99
1.82

0.16
4.59
3.96
0.97
0.72
90.27
4.82
1.99
9.64
2.96

0.22
7.16
3.32
1.09
0.58
91.74
5.63
-1.85
-11.50
-2.96

0.10
5.74
4.05
1.17
0.55
95.27
10.43
-5.74
-49.08
-11.15

0.23
6.46
4.89
1.50
0.70
94.49
24.88
-5.98
-92.45
-10.96

0.38
4.11
5.44
1.89
0.82
84.43
6.32
15.40
173.18
23.78

17,114

23,098

24,957

35,851

13,471

31,844

57,324

56,495

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

7.44

7.99

9.88

5.50

12.31
0.33
-4.26
0.12
-4.78
2.88

17.57
2.98
7.93
0.20
11.05
10.74

0.90
0.00
0.27
14.29

1.84
0.00
0.92
12.39

-1.68
0.00
-1.79
11.14

-4.60
0.00
-5.06
7.45

Financial Statement Analysis of Non Financial Sector 2010

Idrees 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

2005

2006

2007

2008

629,679

882,319

1,054,945

1,020,024

988,184
629,679
38,023
0

1,028,696
882,319
50,427
0

1,026,370
1,054,945
52,600
0

1,272,906
1,020,024
63,916
0

599,916
6,587
299,093
205,298
0
88,938
593,814
443,245
150,569
179,274

605,763
43,624
266,922
207,308
0
87,909
789,825
457,641
332,184
127,793

700,690
65,562
328,242
221,286
0
85,600
901,488
312,365
589,123
247,015

958,806
101,528
489,161
295,770
0
72,347
1,019,379
435,926
583,453
365,958

179,274
456,507
180,480
180,480
0
276,027

127,793
570,464
180,480
180,480
0
389,984

247,015
607,132
180,480
180,480
0
426,652

365,958
593,493
180,480
180,480
0
413,013

741,360
723,828
17,532
651,014

620,985
602,979
18,006
509,539

754,340
754,340
0
634,188

865,715
865,715
0
711,019

90,346
21,177

111,446
26,727

120,152
32,488

154,696
44,420

(Thousand Rupees)
2009
2010
967,359
3,313
1,047,788
952,280
67,457
0
0
11,767
857,293
30,781
490,090
268,812
0
67,611
841,772
678,673
163,099
381,056
99,811
100,330
0
10,313
170,602
601,825
180,480
180,480
0
126,152
0
126,152
295,193

1,059,888
4,619
1,434,254
1,047,788
65,981
0
0
7,482
777,399
46,077
300,600
381,852
0
48,871
709,716
612,040
97,676
401,065
45,393
100,330
0
11,416
243,926
726,507
180,480
180,480
0
167,600
0
167,600
378,427
1,237,402
1,237,402
0
1,056,855
722,399
334,456
180,547
33,051
1,081
31,970
102,712
112,397
110,772
52,079
6,608
18,048
0
122,894

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

32,996
3,353
0
0

25,554
3,096
0
0

26,329
3,772
0
0

26,110
4,378
0
0

751,716
751,716
0
635,400
366,318
269,083
116,315
24,680
1,353
23,327
80,067
142,608
141,202
(14,202)
3,063
0
0
(114,222)

635,781
0
29,643
443,245

698,257
0
22,458
457,641

854,147
0
22,557
312,365

959,451
0
21,732
435,926

982,880
99,811
(17,266)
778,484

1,127,571
45,393
27,423
657,433

0.36
5.13
27.69
0.60
1.01
87.81
1.69
2.90
7.51
5.42

0.32
9.74
33.38
0.42
0.77
82.05
1.61
1.88
4.98
3.83

0.32
9.13
29.34
0.43
0.78
84.07
1.89
1.62
4.47
3.39

0.39
10.50
34.16
0.44
0.94
82.13
2.33
1.40
4.35
2.88

0.36
18.97
35.76
0.41
1.02
84.53
2.03
-0.75
-2.38
-1.46

0.60
9.08
30.86
0.67
1.10
85.41
1.53
2.84
7.84
4.94
2.52
4.12
1.47
4.21
0.11
2.52
40.25

21,177

26,727

32,488

44,420

38,024

60,490

68,860

90,925

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

75

2.48

2.33

2.30

1.77

1.53
0.90
-1.89
-0.09
-0.96
33.35

4.45
0.00
1.64
25.29

4.12
0.00
1.24
31.61

3.49
0.00
1.25
33.64

3.02
0.00
1.20
32.88

Financial Statement Analysis of Non Financial Sector 2010

Indus Dyeing & Manufacturing 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

2005

2006

2007

2008

3,216,903

4,175,945

3,457,490

3,258,316

4,375,250
3,216,903
163,860
0

5,642,271
4,175,945
339,869
0

5,130,639
3,457,490
330,906
0

5,262,687
3,258,316
323,812
0

1,806,631
24,181
1,248,498
290,617
11,023
232,312
1,631,981
1,164,461
467,520
1,712,389

2,226,048
28,670
1,466,959
416,854
0
313,565
2,545,408
1,907,130
638,278
1,977,592

3,226,123
41,192
1,251,553
764
931,480
1,001,134
2,549,545
1,161,104
1,388,441
1,851,669

3,658,948
49,324
1,511,144
861,127
927,983
309,370
2,682,170
1,470,648
1,211,522
1,933,449

1,712,389
1,679,164
172,131
172,131
0
1,507,033

1,977,592
1,878,993
180,737
180,737
0
1,698,256

1,851,669
2,282,399
180,737
180,737
0
2,101,662

1,933,449
2,301,645
180,737
180,737
0
2,120,908

3,920,240
1,680,756
2,239,484
3,174,310

6,176,549
1,985,046
4,191,503
5,290,513

6,581,849
2,351,094
4,230,755
5,636,849

7,311,971
3,643,902
3,668,069
6,413,044

745,930
179,661

886,036
234,822

945,000
249,183

898,927
367,788

(Thousand Rupees)
2009
2010
4,092,590
0
5,360,287
3,054,934
309,364
0
1,036,115
1,542
3,039,112
66,894
2,215,792
515,706
0
240,720
2,994,701
2,573,218
421,483
1,659,906
1,204,700
73,000
0
69,694
312,512
2,477,095
180,737
180,737
0
2,296,358
22,432
2,273,926
0

4,333,431
0
5,500,152
2,918,740
289,462
0
1,409,204
5,487
2,606,690
69,268
1,571,944
721,961
0
243,517
1,666,022
1,149,547
516,475
963,705
626,648
0
0
73,877
263,180
4,310,394
180,737
180,737
0
4,129,657
22,432
4,107,225
0
10,911,595
2,701,476
8,210,119
8,372,140
6,771,348
1,600,792
2,539,455
465,214
217,634
247,580
618,050
495,702
430,194
1,996,637
187,504
90,369
0
2,290,113

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

451,186
28,495
0
0

382,413
69,617
27,111
0

539,342
59,726
0
0

160,748
72,383
27,111
31,545

8,470,152
4,509,816
3,960,336
7,336,043
5,738,163
1,597,880
1,134,109
402,678
191,875
210,803
450,661
582,171
514,952
273,694
74,913
27,111
0
59,388

3,391,553
0
422,691
1,164,461

3,856,585
0
285,685
1,907,130

4,134,068
0
479,616
1,161,104

4,235,094
0
61,254
1,470,648

4,137,001
1,204,700
171,670
3,777,918

5,274,099
626,648
1,718,765
1,776,194

0.20
2.99
7.41
0.78
1.11
80.97
1.99
12.33
34.61
18.62

0.18
4.74
6.75
0.96
0.87
85.65
2.41
6.69
21.50
10.55
11.54
4.21

0.38
5.62
0.01
0.98
1.27
85.64
1.93
8.24
25.92
13.50

0.19
6.87
6.09
1.19
1.01
86.61
1.88
3.90
11.45
6.54
7.33
3.82
1.53
3.23
0.01
11.00
137.06

0.47
4.54
6.62
1.57
1.56
76.73
0.61
28.38
58.83
42.43
20.02
6.94
5.64
18.30
0.87
100.10
238.49

179,661

234,822

249,183

367,788

117,316

292,903

369,583

389,893

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.14

76

5.26

0.69
5.33
11.78
1.06
1.36
87.71
2.01
2.36
7.01
3.84
3.26
4.84

11.51
0.00
24.56
97.55

6.19
0.00
17.31
103.96

8.19
0.00
26.54
126.28

2.20
0.00
4.89
127.35

Financial Statement Analysis of Non Financial Sector 2010

Ishaq 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

2005

2006

2007

2008

782,792

916,977

921,459

870,239

1,168,277
782,792
38,191
0

1,324,268
916,977
55,842
0

1,438,620
921,459
69,303
0

1,450,359
870,239
67,876
0

1,074,448
86,829
430,417
445,990
0
111,212
1,053,868
836,333
217,535
292,411

915,127
6,900
438,923
43,625
0
425,679
1,037,293
753,582
283,711
343,261

1,086,800
91,109
541,402
360,879
0
93,410
1,200,481
755,784
444,697
338,145

1,260,685
13,739
680,601
454,307
0
112,038
1,227,707
966,008
261,699
451,631

292,411
510,961
96,600
96,600
0
414,361

343,261
451,550
96,600
96,600
0
354,950

338,145
469,633
96,600
96,600
0
373,033

451,631
451,586
96,600
96,600
0
354,986

1,313,471
692,578
620,893
1,155,656

1,582,588
935,507
647,081
1,388,528

1,732,536
1,105,292
627,244
1,569,252

2,200,687
1,243,521
957,166
1,960,283

157,815
53,072

194,060
65,320

163,284
53,670

240,404
87,109

(Thousand Rupees)
2009
2010
820,456
0
1,460,934
816,760
63,536
0
0
3,696
1,155,320
9,575
641,706
407,323
0
96,716
1,156,218
998,544
157,674
391,153
264,389
66,500
0
16,740
43,524
428,405
96,600
96,600
0
212,191
17,250
194,941
119,614

783,414
558
1,482,528
779,160
59,679
0
0
3,696
1,046,076
11,501
478,356
436,995
0
119,224
964,863
732,561
232,302
390,338
206,750
94,000
0
16,880
72,708
474,289
96,600
96,600
0
260,296
17,250
243,046
117,393
3,196,504
2,106,823
1,089,681
2,837,984
1,948,893
889,091
358,520
125,583
77,461
48,122
141,718
139,714
122,297
96,308
21,240
7,728
0
314,862

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

40,615
7,365
0
0

24,968
13,330
4,830
0

(5,643)
9,518
0
0

(14,629)
10,983
0
0

2,389,314
1,634,055
755,259
2,093,799
1,573,110
520,689
295,515
94,905
52,005
42,900
116,370
230,232
182,282
(20,646)
8,118
0
0
86,666

803,372
0
33,250
836,333

794,811
0
6,808
753,582

807,778
0
(15,161)
755,784

903,217
0
(25,612)
966,008

819,558
264,389
(28,764)
1,262,933

864,627
206,750
67,340
939,311

0.51
4.91
33.96
0.71
1.02
87.98
2.63
2.36
8.23
5.60

0.05
6.77
2.76
0.86
0.88
87.74
3.06
1.35
5.19
3.12
2.41
3.61

0.38
6.94
20.83
0.86
0.91
90.58
3.28
-0.29
-1.23
-0.70

0.38
7.67
20.64
1.03
1.03
89.08
3.72
-0.71
-3.18
-1.71

0.36
9.64
17.05
1.21
1.00
87.63
3.61
-1.01
-4.69
-2.40

0.46
4.37
13.67
1.75
1.08
88.78
2.86
5.06
21.34
11.44
9.71
6.68
1.79
3.01
0.23
7.77
49.10

53,072

65,320

53,670

87,109

64,548

107,206

120,316

168,732

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.05

77

3.20

3.23

3.72
0.89
-0.86
0.06
-2.98
44.35

3.09
0.00
3.44
52.89

1.58
0.00
1.20
46.74

-0.33
0.00
-1.57
48.62

-0.66
0.00
-2.65
46.75

Financial Statement Analysis of Non Financial Sector 2010

Ishtiaq 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

2005

2006

2007

2008

174,787

329,891

312,895

292,793

364,493
174,787
9,663
0

534,416
329,891
14,818
0

538,931
312,895
21,511
0

538,963
292,793
20,135
0

137,276
2,669
76,915
18,040
0
39,652
207,752
72,144
135,608
76,965

158,651
806
78,648
33,205
0
45,992
289,879
92,794
197,085
56,370

175,514
689
78,251
47,664
0
48,910
330,428
90,582
239,846
17,769

174,476
656
63,513
58,434
0
51,873
246,729
91,453
155,276
88,667

76,965
27,346
42,500
42,500
0
(15,154)

56,370
142,293
42,500
42,500
0
99,793

17,769
140,212
42,500
42,500
0
97,712

88,667
131,873
42,500
42,500
0
89,373

390,489
390,489
0
365,050

535,945
535,945
0
502,909

549,348
549,348
0
521,025

531,494
531,494
0
519,450

25,439
5,847

33,036
8,183

28,323
9,281

12,044
8,313

(Thousand Rupees)
2009
2010
313,157
0
538,884
273,769
18,944
0
0
39,388
153,437
3,716
105,321
27,935
0
16,465
190,795
135,553
55,242
178,705
0
137,039
0
175
41,492
97,095
42,500
42,500
0
(62,291)
0
(62,291)
116,886

295,482
0
538,884
256,094
17,675
0
0
39,388
127,996
807
44,425
65,424
0
17,340
132,017
91,991
40,026
184,137
0
137,038
0
1,285
45,814
107,323
42,500
42,500
0
(45,318)
0
(45,318)
110,141
576,449
576,449
0
533,653
435,780
97,874
42,796
11,180
5,591
5,589
39,747
14,183
13,661
17,433
2,882
0
0
65,454

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

10,427
1,717
0
0

8,996
2,680
0
0

(5,185)
2,747
0
0

(11,631)
2,657
0
0

226,352
226,352
0
239,948
145,376
94,572
(13,596)
6,795
4,431
2,364
27,276
20,064
19,756
(40,455)
0
0
0
(28,871)

104,311
0
8,710
72,144

198,663
0
6,316
92,794

157,981
0
(7,932)
90,582

220,540
0
(14,288)
91,453

275,800
0
(40,455)
135,553

291,461
0
14,551
91,991

0.10
2.40
4.62
1.25
0.66
93.49
10.41
3.48
45.14
9.93

0.12
2.96
6.20
1.10
0.55
93.84
2.43
2.25
10.61
5.94

0.15
4.41
8.68
1.12
0.53
94.84
2.48
-1.06
-3.67
-2.91

0.24
2.89
10.99
1.14
0.71
97.73
2.54
-2.43
-8.55
-6.15

0.17
8.86
12.34
0.49
0.80
106.01
3.81
-8.66
-35.34
-16.30

0.50
2.46
11.35
1.36
0.97
92.58
2.95
3.92
17.06
6.15

5,847

8,183

9,281

8,313

9,364

15,857

24,227

15,362

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

5.08

6.81

7.02

8.37

2.15
-1.05
-17.87
-0.08
-9.52
22.85

12.98
2.28
3.02
0.21
3.42
25.25

2.67
0.00
2.05
6.43

1.68
0.00
1.49
33.48

-0.94
0.00
-1.87
32.99

-2.19
0.00
-3.36
31.03

Financial Statement Analysis of Non Financial Sector 2010

Island 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

2005

2006

2007

2008

386,433

362,335

345,378

594,736

475,857
386,433
30,278
0

479,947
362,335
30,278
0

495,998
345,378
27,167
0

610,924
594,736
25,596
0

431,626
10,492
219,652
130,510
2,886
68,086
446,794
275,867
170,927
132,698

347,162
16,075
134,499
111,678
18,630
66,280
378,057
211,883
166,174
135,606

522,459
23,103
242,202
164,196
17,514
75,444
585,475
345,756
239,719
61,092

655,809
10,976
327,042
164,083
18,162
135,546
615,882
452,261
163,621
284,810

132,698
238,567
5,000
5,000
0
233,567

135,606
195,834
5,000
5,000
0
190,834

61,092
221,270
5,000
5,000
0
216,270

284,810
349,853
5,000
5,000
0
344,853

798,746
615,704
183,042
733,179

980,169
710,326
269,843
846,818

1,007,651
676,027
331,624
875,429

1,024,973
544,579
480,394
868,071

65,567
34,783

133,351
51,871

132,222
66,685

156,902
143,180

(Thousand Rupees)
2009
2010
706,660
889
631,522
577,195
30,030
0
128,496
80
569,665
10,674
370,786
119,791
0
68,414
643,220
463,783
179,437
289,826
155,006
50,000
0
12,286
72,534
343,278
5,000
5,000
0
19,883
569
19,314
318,395

720,329
1,472
637,581
555,317
28,716
0
163,470
70
406,777
26,260
251,194
71,139
0
58,185
352,572
180,345
172,227
242,248
127,418
10,000
0
11,355
93,475
532,287
5,000
5,000
0
209,363
558
208,805
317,923
1,750,820
1,004,107
746,713
1,372,136
937,242
434,894
378,684
92,261
51,114
41,147
110,170
100,568
87,249
221,515
12,576
2,500
0
373,177

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,875
3,626
1,250
0

28,404
9,353
1,250
0

18,343
11,091
1,250
0

(33,166)
5,744
0
0

1,403,698
1,043,882
359,816
1,292,376
929,830
362,546
111,322
109,384
48,440
60,944
94,412
137,146
119,183
(145,760)
3,480
0
0
30,508

371,265
0
999
275,867

331,440
0
17,801
211,883

282,362
0
6,002
345,756

634,663
0
(38,910)
452,261

633,104
155,006
(149,240)
618,789

774,535
127,418
206,439
307,763

0.32
3.17
16.34
0.98
0.97
91.79
2.43
0.71
2.47
1.47
1.80
3.64

0.39
5.47
11.39
1.38
0.92
86.40
2.62
3.72
13.08
8.08
15.24
7.29

0.35
5.52
16.29
1.16
0.89
86.88
2.92
2.33
8.80
5.98
5.80
4.16

0.31
5.51
16.01
0.82
1.06
84.69
2.57
-3.13
-11.61
-7.23

0.20
9.77
8.53
1.10
0.89
92.07
2.72
-11.54
-42.06
-22.99

0.28
5.74
4.06
1.55
1.15
78.37
1.12
18.43
50.60
31.47
83.58
6.97
3.54
12.65
0.63
417.88
1,064.57

34,783

51,871

66,685

143,180

25,305

53,621

55,670

56,479

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

3.13

3.79
-0.22
-10.38
0.03
-298.48
686.56

0.74
0.00
4.50
477.13

2.90
0.00
38.10
391.67

1.82
0.00
14.50
442.54

-3.24
0.00
-77.82
699.71

Financial Statement Analysis of Non Financial Sector 2010

J.A. 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

2005

2006

2007

2008

205,858

191,020

369,728

332,190

309,455
205,858
8,403
0

315,232
191,020
20,615
0

387,739
369,728
21,324
0

387,927
332,190
37,431
0

63,926
9,439
33,987
1,733
50
18,717
259,774
0
259,774
15,111

65,768
1,396
13,183
2,249
159
48,781
83,240
0
83,240
215,471

100,801
20,874
15,185
6,880
0
57,862
312,367
0
312,367
15,111

94,412
14,891
26,433
0
0
53,088
299,057
0
299,057
15,111

15,111
(5,101)
126,012
126,012
0
(131,113)

215,471
(41,923)
126,012
126,012
0
(167,935)

15,111
143,051
126,012
126,012
0
17,039

15,111
112,434
126,012
126,012
0
(13,578)

221,940
154,628
67,312
209,050

470,028
470,028
0
436,967

497,594
446,168
51,426
471,581

572,402
549,096
23,306
590,481

12,890
12,599

33,061
20,350

26,013
15,383

(18,079)
12,587

(Thousand Rupees)
2009
2010
322,372
0
388,471
305,405
27,330
0
0
16,967
30,891
9,661
13,616
0
0
7,613
43,982
0
43,982
233,629
15,111
177,201
0
2,878
38,439
75,652
126,012
126,012
0
(278,773)
0
(278,773)
228,414

307,689
10,663
386,603
280,014
26,186
0
0
17,012
63,223
21,593
17,530
5,637
0
18,463
65,877
0
65,877
235,601
15,111
174,869
0
1,619
44,002
69,434
126,012
126,012
0
(272,807)
0
(272,807)
216,230
571,674
539,919
31,756
556,558
389,183
167,375
15,117
13,591
1,691
11,900
50,736
212
0
2,298
2,954
0
0
27,206

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(1,923)
1,416
0
0

10,024
3,833
0
0

12,218
2,488
0
0

(33,719)
2,803
0
0

480,345
432,771
47,574
509,677
352,116
157,561
(29,332)
11,396
2,576
8,820
46,228
205
0
(40,925)
554
0
0
(9,504)

10,010
0
(3,339)
0

173,548
0
6,191
0

158,162
0
9,730
0

127,545
0
(36,522)
0

309,281
15,111
(41,479)
15,111

305,035
15,111
(656)
15,111

0.04
1.01
0.78
0.82
0.25
94.19
-53.89
-0.75
11.60
131.49

0.05
0.63
0.48
1.83
0.79
92.97
-7.13
3.81
-42.63
10.92

0.09
0.60
1.38
1.06
0.32
94.77
2.29
3.36
24.16
7.37

0.05
0.54
0.00
1.34
0.32
103.16
2.79
-7.52
-26.40
-23.60

0.22
0.04
0.00
1.36
0.70
106.11
3.67
-10.50
-43.52
-18.74

0.41
0.04
0.99
1.54
0.96
97.36
4.34
0.63
3.17
0.75

12,599

20,350

15,383

12,587

2,244

2,966

2,998

3,084

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

80

6.53

35.65

32.77

21.65

35.28

32.61

-0.87
0.00
-0.26
-0.40

2.13
0.00
0.49
-3.33

2.46
0.00
0.77
11.35

-5.89
0.00
-2.90
8.92

-8.52
-0.03
-3.29
6.00

0.40
0.09
-0.05
5.51

Financial Statement Analysis of Non Financial Sector 2010

J.K. 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

2005

2006

2007

2008

457,235

717,657

1,011,194

951,299

480,041
457,235
11,890
0

759,741
717,657
19,278
0

1,012,459
1,011,194
29,412
0

997,709
951,299
48,767
0

403,501
40,813
134,080
173,940
8
54,660
400,268
271,682
128,586
121,587

409,975
7,610
122,167
199,847
7
80,344
612,244
372,279
239,965
242,819

385,820
9,842
122,373
126,031
8
127,566
814,328
288,689
525,639
98,916

423,602
20,752
181,422
96,775
6
124,647
740,857
291,418
449,439
192,791

121,587
338,881
70,000
70,000
0
268,881

242,819
272,569
70,000
70,000
0
202,569

98,916
483,770
70,000
70,000
0
413,770

192,791
441,253
70,000
70,000
0
371,253

415,910
98,345
317,565
367,968

614,837
614,837
0
539,947

637,107
366,778
270,329
515,931

747,616
615,445
132,171
646,216

47,942
35,079

74,890
61,475

121,176
39,110

101,400
29,247

(Thousand Rupees)
2009
2010
952,008
26,905
1,017,383
901,636
47,303
0
0
23,467
380,491
5,200
107,406
150,406
0
117,480
433,246
254,513
178,733
477,909
73,710
332,845
0
0
71,354
421,343
70,000
70,000
0
34,901
0
34,901
316,442

937,726
28,034
1,060,472
899,447
45,497
0
0
10,245
354,253
24,454
207,017
73,766
0
49,016
341,923
253,124
88,799
352,415
22,275
228,888
0
0
101,252
597,641
175,000
175,000
0
158,864
0
158,864
263,777
1,148,043
1,010,578
137,465
906,703
641,933
264,769
241,340
54,791
19,352
35,439
92,696
71,254
66,482
118,615
8,024
35,000
8,750
102,124

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(5,254)
3,881
0
0

(41,094)
6,994
0
0

14,327
8,738
0
0

(10,455)
4,864
0
0

835,155
687,683
147,472
743,468
517,610
225,858
91,687
35,472
12,520
22,953
63,084
71,779
69,993
(1,593)
1,276
0
0
40,183

460,468
0
(9,135)
271,682

515,388
0
(48,088)
372,279

582,686
0
5,589
288,689

634,044
0
(15,319)
291,418

899,252
73,710
(2,869)
328,223

950,055
22,275
75,591
275,399

0.54
4.70
41.82
0.48
1.01
88.47
1.54
-0.67
-1.53
-1.22

0.34
8.44
32.50
0.55
0.67
87.82
3.14
-4.13
-13.44
-8.42

0.17
12.13
19.78
0.46
0.47
80.98
1.89
1.13
3.79
2.61

0.16
12.27
12.94
0.54
0.57
86.44
2.12
-0.75
-2.26
-1.72

0.36
8.59
18.01
0.63
0.88
89.02
2.16
-0.12
-0.37
-0.21

0.29
6.21
6.43
0.89
1.04
78.98
1.16
9.04
23.28
12.83
3.16
5.55
2.78
10.33
0.15
6.32
34.15

35,079

61,475

39,110

29,247

19,535

51,906

77,286

91,701

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

81

3.10

5.03

5.21

4.12

7.78
0.98
-0.19
0.04
-0.41
60.19

-1.26
0.00
-1.31
48.41

-6.68
0.00
-6.87
38.94

2.25
0.00
0.80
69.11

-1.40
0.00
-2.19
63.04

Financial Statement Analysis of Non Financial Sector 2010

Janana De Malucho 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

2005

2006

2007

2008

1,179,045

1,225,974

1,547,998

1,524,003

1,420,581
1,179,045
37,132
0

1,556,230
1,225,974
92,991
0

1,836,399
1,547,998
50,386
0

1,825,338
1,524,003
54,970
0

427,624
2,265
325,095
2,318
9,670
88,276
571,471
404,365
167,106
351,128

423,188
9,781
308,010
5,714
26,876
72,807
746,631
523,075
223,556
356,658

513,821
4,768
379,028
23,003
28,962
78,060
794,711
468,765
325,946
377,421

604,682
5,092
430,773
37,675
41,016
90,126
748,822
584,510
164,312
478,776

16,521

351,128
684,070
28,777
28,777
0
655,293

356,658
545,873
28,777
28,777
0
517,096

360,900
889,687
31,723
31,655
68
857,964

478,776
901,087
31,655
31,655
0
869,432

523,848
523,848
0
488,878

970,377
970,377
0
901,743

1,079,553
1,079,553
0
934,344

1,130,611
1,130,611
0
978,959

34,970
28,357

68,634
32,504

145,209
37,428

151,652
41,511

(Thousand Rupees)
2009
2010
1,514,602
3,845
1,881,218
1,497,608
53,567
0
10,804
2,345
462,621
3,177
358,881
26,623
0
73,940
698,670
555,000
143,670
446,823
326,339
0
0
10,203
110,281
831,730
31,655
31,655
0
138,462
29,862
108,600
661,613

1,984,048
0
2,217,788
1,929,393
53,561
0
52,228
2,427
460,914
5,850
364,761
12,082
0
78,221
559,916
429,873
130,043
517,481
285,438
0
0
17,569
214,474
1,367,565
43,064
43,064
0
296,063
18,453
277,610
1,028,438
1,454,537
1,454,537
0
1,142,811
767,405
375,406
311,726
60,547
7,560
52,987
174,545
125,938
125,132
174,411
25,834
0
0
175,450

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(9,348)
2,319
0
0

(44,382)
4,852
0
0

6,014
5,376
0
10,066

19,436
5,635
0
0

1,071,738
1,071,738
0
1,010,091
630,495
379,596
61,647
40,746
5,870
34,876
140,615
143,546
142,723
(149,174)
2,349
0
0
29,787

1,035,198
0
(11,667)
404,365

902,531
0
(49,234)
523,075

1,267,108
16,521
638
485,286

1,379,863
0
13,801
584,510

1,278,553
326,339
(151,523)
881,339

1,885,046
285,438
148,577
715,311

0.02
3.93
0.44
0.33
0.75
93.32
1.35
-0.70
-1.47
-1.15

0.06
8.60
0.59
0.59
0.57
92.93
2.02
-2.73
-7.22
-4.58

0.07
9.88
2.13
0.52
0.65
86.55
1.32
0.32
0.84
0.55

0.11
8.29
3.33
0.53
0.81
86.59
1.36
0.93
2.17
1.47

0.04
13.39
2.48
0.54
0.66
94.25
1.38
-7.27
-17.22
-11.22

0.03
8.66
0.83
0.59
0.82
78.57
0.79
7.89
15.86
11.03

28,357

32,504

37,428

41,511

20,599

83,496

106,647

93,773

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

1.61

3.15

2.85

2.62

2.99
-0.05
-13.92
0.03
-47.87
262.75

3.99
2.39
11.99
0.16
34.50
317.57

-1.78
0.00
-4.05
237.71

-4.57
0.00
-17.11
189.69

0.56
0.00
0.20
281.06

1.72
0.00
4.36
284.66

Financial Statement Analysis of Non Financial Sector 2010

Jubilee Spinning & 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

2005

2006

2007

2008

231,141

571,433

660,235

667,219

451,031
231,141
110,963
0

713,638
571,433
22,314
0

570,633
537,353
24,258
122,882

857,186
666,952
200,553
267

183,273
3,501
30,310
20,945
104,237
24,280
336,485
36,099
300,386
162,537

189,325
5,848
40,897
8,875
89,757
43,948
375,414
48,224
327,190
141,192

97,211
5,390
22,269
7,353
0
62,199
310,826
6,679
304,147
288,528

147,831
5,412
30,687
9,467
565
101,700
301,480
0
301,480
154,048

162,537
(84,608)
70,169
70,169
0
(154,777)

141,192
244,152
70,169
70,169
0
173,983

288,528
158,092
70,169
70,169
0
87,923

154,048
359,522
70,169
70,169
0
289,353

436,455
436,455
0
412,950

581,319
581,319
0
556,252

651,194
651,194
0
658,830

751,885
751,885
0
741,257

23,505
17,053

25,067
14,625

(7,636)
13,059

10,628
14,130

(Thousand Rupees)
2009
2010
790,963
0
871,989
649,735
21,683
0
137,243
3,985
141,534
7,966
28,618
22,719
25,112
57,120
151,395
40,548
110,846
123,882
57,228
0
0
26,309
40,345
657,221
324,912
324,912
0
(182,017)
(11,305)
(170,712)
514,326

813,482
10,897
862,483
636,688
20,068
0
162,743
3,154
106,962
3,975
32,153
13,223
19,978
37,632
127,903
36,968
90,935
105,318
38,521
0
0
30,595
36,202
687,223
324,912
324,912
0
(144,973)
0
(144,973)
507,284
703,589
703,589
0
665,909
561,217
104,692
37,681
43,625
1,317
42,308
64,046
9,430
8,984
22,441
22,441
0
0
43,375

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,129
2,171
0
0

(4,787)
2,907
0
0

9,096
4,769
0
0

118
3,758
0
0

763,285
763,285
0
707,363
599,253
108,110
55,922
46,986
1,223
45,762
60,895
10,767
10,468
24,158
24,158
0
0
43,709

77,929
0
2,958
36,099

385,344
0
(7,694)
48,224

446,620
0
4,327
6,679

513,570
0
(3,640)
0

781,103
57,228
0
97,776

792,541
38,521
0
75,489

0.38
2.34
4.80
1.05
0.54
94.61
-5.90
1.21
-6.34
5.60

0.28
2.89
1.53
0.76
0.50
95.69
2.12
-0.81
-6.00
-2.07

0.04
2.07
1.13
0.86
0.31
101.17
3.79
1.20
4.52
2.19

0.05
1.25
1.26
0.92
0.49
98.59
1.27
0.02
0.05
0.02

0.37
1.41
2.98
0.82
0.93
92.67
0.42
2.76
4.75
3.73

0.29
1.34
1.88
0.76
0.84
94.64
0.34
2.42
3.34
2.85

17,053

14,625

13,059

14,130

10,214

16,783

13,498

9,384

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

14.40

14.21

29.24

24.50

26.67
3.31
3.17
0.16
0.00
20.23

21.88
3.50
3.19
0.19
0.00
21.15

1.18
0.00
0.42
-12.06

-0.82
0.00
-1.10
34.79

1.40
0.00
0.62
22.53

0.02
0.00
-0.52
51.24

Financial Statement Analysis of Non Financial Sector 2010

Karim Cotton 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

2005

2006

2007

2008

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

84
16
0
0
0
68
488
0
488
0

84
17
0
0
0
67
567
0
567
0

83
16
0
0
0
67
654
0
654
0

90
23
0
0
0
67
764
0
764
0

0
(404)
11,833
11,833
0
(12,237)

0
(483)
11,833
11,833
0
(12,316)

0
(571)
11,838
11,838
0
(12,409)

0
(674)
11,833
11,833
0
(12,507)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
47

0
78

0
93

0
97

(Thousand Rupees)
2009
2010
63
0
0
0
0
0
0
63
18
14
0
0
0
4
945
0
945
0
0
0
0
0
0
(863)
11,833
11,833
0
(12,696)
0
(12,696)
0

63
0
0
0
0
0
0
63
18
14
0
0
0
4
1,192
0
1,192
0
0
0
0
0
0
(1,110)
11,833
11,833
0
(12,943)
0
(12,943)
0
0
0
0
0
0
0
0
247
0
247
0
0
0
(247)
0
0
0
(247)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(47)
0
0
0

(78)
0
0
0

(93)
0
0
0

(98)
0
0
0

0
0
0
0
0
0
0
188
0
188
0
1
0
(189)
0
0
0
(189)

(404)
0
(47)
0

(483)
0
(78)
0

(571)
0
(93)
0

(674)
0
(98)
0

(863)
0
(189)
0

(1,110)
0
(247)
0

0.03

0.03

0.02

0.03

0.01

0.01

0.00
0.17

0.00
0.15

0.00
0.13

0.00
0.12

0.00
0.02

0.00
0.02

47

78

93

97

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

84

-1.21
-50.81
12.34
12.34

-1.17
-92.86
17.59
17.59

-1.15
-111.38
17.65
17.65

-1.13
-113.29
15.74
15.74

-1.09
-221.17
24.59
24.59

-1.07
-305.32
25.03
25.03

0.00
-0.04
-0.34

0.00

0.00
-0.08
-0.48

0.00
-0.08
-0.57

-0.20
-0.16
-0.73

-0.21
-0.21
-0.94

Financial Statement Analysis of Non Financial Sector 2010

Khalid Siraj 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

2005

2006

2007

2008

248,524

228,941

224,896

473,761

361,329
248,524
10,098
0

365,774
228,941
12,450
0

381,114
224,896
10,952
0

380,990
473,761
13,857
0

271,949
3,593
133,518
17,251
0
117,587
208,249
99,210
109,039
39,049

278,132
3,967
73,153
20,799
0
180,213
325,405
132,305
193,100
25,670

266,152
2,768
52,571
33,657
0
177,156
354,216
105,730
248,486
14,225

208,243
2,451
47,132
7,693
0
150,967
335,044
93,405
241,639
101,710

39,049
273,175
107,000
107,000
0
166,175

25,670
155,998
107,000
107,000
0
48,998

14,225
122,607
107,000
107,000
0
15,607

101,710
245,250
107,000
107,000
0
138,250

301,296
251,489
49,807
285,865

425,287
395,750
29,537
424,897

494,003
479,156
14,847
500,558

657,710
639,582
18,128
691,932

15,431
10,928

390
15,392

(6,555)
15,078

(34,222)
23,938

(Thousand Rupees)
2009
2010
447,133
0
383,665
429,091
9,692
0
0
18,042
98,627
1,663
2,496
247
0
94,221
90,445
39,712
50,733
293,374
8,469
206,993
0
5,240
72,673
161,941
107,000
107,000
0
(122,322)
0
(122,322)
177,263

436,719
0
388,065
419,089
11,415
0
0
17,630
149,934
13,400
18,001
11,329
0
107,204
143,557
68,335
75,222
260,627
0
207,036
0
5,543
48,047
182,469
107,000
107,000
0
(88,738)
0
(88,738)
164,207
724,343
640,399
83,945
712,682
521,171
191,511
11,661
18,283
0
18,283
7,115
19,023
17,566
(25,144)
3,634
0
0
(3,541)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(6,811)
1,489
0
0

(38,419)
2,126
0
0

(46,001)
2,470
0
0

(77,229)
3,288
0
0

431,304
430,993
311
487,450
349,815
137,635
(56,146)
13,169
0
13,169
4,803
22,104
21,748
(94,103)
2,162
0
0
(12,032)

312,224
0
(8,300)
99,210

181,668
0
(40,545)
132,305

136,832
0
(48,471)
105,730

346,960
0
(80,517)
93,405

455,315
8,469
(96,265)
48,181

443,096
0
(28,778)
68,335

0.10
3.93
5.73
0.58
1.31
94.88
0.91
-1.35
-2.62
-2.32

0.08
5.67
4.89
0.84
0.85
99.91
2.25
-7.48
-17.90
-15.56

0.10
4.41
6.81
1.01
0.75
101.33
3.01
-9.22
-33.02
-28.89

0.03
2.93
1.17
0.96
0.62
105.20
1.78
-13.17
-41.99
-31.93

0.02
5.12
0.06
0.79
1.09
113.02
2.37
-15.33
-46.22
-23.46

0.17
2.63
1.56
1.23
1.04
98.39
2.22
-4.44
-14.60
-5.60

10,928

15,392

15,078

23,938

11,848

24,119

21,761

19,297

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.26

5.81

9.40

13.95

172.80
-3.33
-21.82
-0.03
-9.00
15.13

40.24
-0.43
-3.47
-0.01
-2.69
17.05

-2.26
0.00
-0.78
25.53

-9.03
0.00
-3.79
14.58

-9.31
0.00
-4.53
11.46

-11.74
0.00
-7.52
22.92

Financial Statement Analysis of Non Financial Sector 2010

Khurshid 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

2005

2006

2007

2008

426,018

426,930

410,171

373,672

473,112
426,018
21,084
0

518,347
426,930
44,737
0

545,242
410,171
43,654
0

550,575
373,672
41,831
0

119,499
20,744
71,993
14,682
0
12,080
189,310
82,880
106,430
90,384

101,703
1,466
80,698
1,267
0
18,272
281,558
101,192
180,366
127,936

97,789
4,368
69,554
3,074
0
20,793
365,782
99,483
266,299
111,504

132,430
3,301
99,174
5,348
0
24,607
289,835
110,344
179,491
253,649

90,384
265,823
131,748
131,748
0
134,075

127,936
119,139
131,748
131,748
0
(12,609)

111,504
30,674
131,748
131,748
0
(101,074)

253,649
(37,382)
131,748
131,748
0
(169,130)

373,868
373,868
0
335,559

408,382
408,382
0
405,768

405,401
405,401
0
454,775

378,624
378,624
0
397,941

38,309
11,392

2,614
19,965

(49,374)
17,989

(19,317)
18,444

(Thousand Rupees)
2009
2010
335,325
0
539,330
331,187
36,125
0
0
4,138
101,694
610
82,127
3,106
0
15,851
113,778
57,134
56,644
415,045
268,496
93,253
0
1,546
51,750
(91,804)
131,748
131,748
0
(346,590)
0
(346,590)
123,038

291,612
0
521,092
289,563
32,038
0
0
2,049
35,593
1,576
11,768
2,990
0
19,259
115,256
46,799
68,457
362,004
264,554
85,406
0
2,194
9,850
(150,055)
131,748
131,748
0
(393,325)
0
(393,325)
111,522
502,293
502,293
0
587,130
417,200
169,930
(84,837)
16,520
1,329
15,191
50,485
5,553
3,583
(100,151)
0
0
0
8,381

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

10,587
2,773
0
0

(39,345)
2,042
0
0

(88,827)
2,027
0
0

(67,717)
1,893
0
0

292,920
292,920
0
346,600
213,393
133,207
(53,680)
12,540
79
12,461
31,916
34,929
33,494
(100,485)
0
0
0
(22,924)

356,207
0
7,814
82,880

247,075
0
(41,387)
101,192

142,178
0
(90,854)
99,483

216,267
0
(69,610)
110,344

323,241
268,496
(100,485)
325,630

211,949
264,554
(100,151)
311,353

0.19
4.38
3.93
0.69
0.63
89.75
1.05
2.40
7.32
4.54

0.01
5.49
0.31
0.77
0.36
99.36
3.44
-7.33
-20.44
-13.04

0.02
5.43
0.76
0.80
0.27
112.18
15.56
-17.14
-118.58
-45.64

0.03
7.91
1.41
0.75
0.46
105.10
-14.54
-13.36
2,018.99
-37.78

0.03
11.92
1.06
0.67
0.89
118.33
-5.76
-21.31
155.57
-37.25

0.04
1.11
0.60
1.54
0.31
116.89
-3.18
-26.21
82.82
-37.43

11,392

19,965

17,989

18,444

16,358

22,428

22,011

29,964

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

86

5.19

5.06

5.83

3.82

3.57
-2.00
-34.30
-0.04
-7.63
-6.97

42.68
-26.95
-19.94
0.02
-7.60
-11.39

2.83
0.00
0.59
20.18

-9.63
0.00
-3.14
9.04

-21.91
0.00
-6.90
2.33

-17.89
0.00
-5.28
-2.84

Financial Statement Analysis of Non Financial Sector 2010

Khyber 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

2005

2006

2007

2008

53,715

48,344

41,208

41,190

323,965
53,715
4,357
0

323,965
48,344
5,372
0

316,232
41,208
4,567
0

316,232
41,190
18
0

79,088
2,091
73,687
1,018
0
2,292
129,887
19,881
110,006
0

71,884
3,715
45,622
0
0
22,547
135,369
23,149
112,220
0

39,259
4,218
17,985
24
0
17,032
67,934
11,039
56,895
0

12,116
213
0
24
0
11,879
31,781
0
31,781
8,992

0
2,916
12,275
12,275
0
(9,359)

0
(15,141)
12,275
12,275
0
(27,416)

0
12,533
12,275
12,275
0
258

8,992
12,533
12,275
12,275
0
258

258,924
258,924
0
257,113

405,950
405,950
0
398,241

461,628
461,628
0
466,398

14,694
14,694
0
22,054

1,811
3,078

7,709
3,890

(4,770)
7,613

(7,360)
2,251

(Thousand Rupees)
2009
2010
39,994
0
219,314
30,723
17
0
0
9,271
6,725
92
0
0
0
6,633
63,837
4,155
59,682
19,786
9,349
1,445
0
0
8,992
(36,903)
12,275
12,275
0
(49,178)
258
(49,436)
0

30,798
0
219,314
30,709
14
0
0
89
6,642
49
0
0
0
6,593
56,427
4,155
52,272
20,690
5,194
15,496
0
0
0
(39,677)
12,275
12,275
0
(51,952)
258
(52,210)
0
0
0
0
0
0
0
0
2,903
0
2,903
1,428
5
0
(2,583)
0
0
0
(9,939)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(3,091)
1,126
0
0

967
2,030
0
0

(4,662)
2,360
0
0

(8,636)
80
0
0

0
0
0
0
0
0
0
8,716
0
8,716
1,273
10
0
(1,433)
0
0
0
4,328

2,916
0
(4,217)
19,881

(15,141)
0
(1,063)
23,149

12,533
0
(7,022)
11,039

21,525
0
(8,716)
0

(17,118)
9,349
(1,433)
13,504

(18,987)
5,194
(2,583)
9,349

0.02
0.71
0.39
1.95
0.61
99.30
44.54
-2.43
-60.89
-60.89

0.03
0.73
0.00
3.38
0.53
98.10
-8.94
0.76
-15.82
-15.82

0.06
0.56
0.01
5.74
0.58
101.03
5.42
-4.65
357.52
357.52

0.01
1.61
0.16
0.28
0.38
150.09
3.25
-12.91
-68.91
-50.71

0.00

0.00

0.00
0.11

0.00
0.12

3,078

3,890

7,613

2,251

1,840

2,951

2,577

236

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

87

3.51

8.90

25.67

-1.19
0.00
-3.44
2.38

0.24
0.00
-0.87
-12.33

-1.01
0.00
-5.72
10.21

-58.77
0.00
-7.10
10.21

-2.27
-2.87
11.76
-65.03

-1.94
-6.14
6.75
14.31

0.05
-1.17
-30.06

-0.13
-2.10
-32.32

Financial Statement Analysis of Non Financial Sector 2010

Kohat 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

2005

2006

2007

2008

664,040

702,160

664,961

752,160

942,836
654,965
36,063
9,075

1,016,987
685,151
56,579
17,009

1,045,242
664,698
56,856
263

1,144,864
752,160
396,943
0

459,479
2,812
356,229
76,714
0
23,724
505,045
448,616
56,429
321,711

482,675
442
329,439
131,915
0
20,879
566,677
475,670
91,007
273,125

539,486
115
338,671
139,426
0
61,274
571,190
426,308
144,882
311,769

549,278
57
188,602
267,681
0
92,938
632,393
501,734
130,659
302,999

321,711
296,763
88,000
88,000
0
208,763

273,125
345,033
208,000
208,000
0
137,033

311,769
321,488
208,000
208,000
0
113,488

302,999
366,046
208,000
208,000
0
158,046

869,620
869,620
0
843,532

1,180,286
1,173,836
6,450
1,054,752

1,317,002
1,299,712
17,290
1,215,132

1,438,648
1,437,458
1,190
1,370,940

26,088
26,266

125,534
38,651

101,870
42,698

67,708
42,088

(Thousand Rupees)
2009
2010
866,002
0
1,129,943
792,683
60,046
0
0
73,319
379,812
811
101,094
237,316
0
40,591
530,909
370,283
160,626
417,150
295,473
100,000
0
20,659
1,018
297,755
208,000
208,000
0
(226,094)
0
(226,094)
315,849

828,870
10,316
1,098,262
748,745
43,450
0
0
69,809
706,212
575
421,020
221,283
0
63,334
833,199
633,020
200,179
387,669
262,500
100,000
0
23,906
1,263
314,214
208,000
208,000
0
(195,256)
0
(195,256)
301,470
1,686,696
1,686,696
0
1,514,660
1,253,036
261,624
172,036
56,900
6,752
50,148
121,372
94,341
78,237
21,652
8,433
0
0
(147,876)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(34,613)
0
0
0

4,470
5,890
0
0

(34,572)
6,575
0
0

(86,099)
7,194
0
0

1,444,643
1,416,986
27,657
1,444,217
927,048
517,169
426
50,255
10,365
39,890
105,558
140,849
121,173
(189,993)
258
0
0
190,007

618,474
0
(34,613)
448,616

618,158
0
(1,420)
475,670

633,257
0
(41,147)
426,308

669,045
0
(93,293)
501,734

714,905
295,473
(190,251)
665,756

701,883
262,500
13,219
895,520

0.16
3.99
8.82
0.77
0.91
97.00
2.79
-3.29
-13.35
-6.09

0.23
7.06
11.18
1.00
0.85
89.36
2.43
0.39
1.39
0.72

0.24
7.20
10.59
1.09
0.94
92.27
2.75
-2.89
-10.37
-5.53

0.42
7.81
18.61
1.11
0.87
95.29
2.56
-6.87
-25.05
-13.22

0.45
9.75
16.43
1.16
0.72
99.97
3.18
-14.92
-57.24
-27.46

0.27
5.59
13.12
1.10
0.85
89.80
3.89
1.56
7.08
3.06

26,266

38,651

42,698

42,088

34,664

83,357

94,791

112,392

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.44

3.58

3.89

7.63

14.29
-0.57
-13.15
0.20
-9.15
14.32

4.01
1.28
1.28
-0.12
0.64
15.11

-3.98
0.00
-3.93
33.72

0.38
0.00
-0.07
16.59

-2.63
0.00
-1.98
15.46

-5.98
0.00
-4.49
17.60

Financial Statement Analysis of Non Financial Sector 2010

Kohinoor 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

2005

2006

2007

2008

3,479,738

1,558,434

1,506,752

849,283

4,035,571
3,479,738
37,101
0

2,194,486
1,558,434
51,864
0

2,198,850
1,506,752
57,520
0

862,979
849,283
27,373
0

798,348
66,724
365,392
7,562
17,685
340,985
3,158,524
1,413,238
1,745,286
0

423,134
41,454
239,982
1,638
10,935
129,125
1,066,449
401,279
665,170
2,695

524,981
93,329
215,787
6,854
105,408
103,603
1,032,458
449,172
583,286
115,762

542,666
24,762
14,608
0
51,570
451,726
790,791
25,671
765,120
101,748

0
1,119,562
288,596
288,596
0
830,966

2,695
912,424
288,596
288,596
0
623,828

115,762
883,513
288,596
288,596
0
594,917

101,748
499,410
303,025
303,025
0
196,385

765,819
765,819
0
728,973

1,005,158
1,005,158
0
894,265

1,012,304
1,012,304
0
949,549

241,479
241,479
0
234,932

36,846
69,987

110,893
73,801

62,755
117,943

6,547
134,812

(Thousand Rupees)
2009
2010
817,018
0
827,646
792,782
17,939
0
20,811
3,426
115,194
8,870
5,813
5,075
0
95,436
116,987
7,943
109,044
426,463
426,463
0
0
0
0
388,763
303,025
303,025
0
(556,255)
187,395
(743,650)
641,993

794,215
0
834,381
775,026
17,115
0
15,763
3,426
26,906
8,971
0
2,686
0
15,249
30,122
865
29,257
438,463
438,463
0
0
0
0
352,535
303,025
303,025
0
(590,809)
187,395
(778,204)
640,320
0
0
0
0
0
0
0
54,300
0
54,300
13,211
272
196
(35,849)
379
0
0
(6,875)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(34,866)
4,561
0
0

89,045
5,039
0
0

(118,005)
5,391
0
0

(151,579)
1,880
0
0

0
0
0
0
0
0
0
301,814
0
301,814
44,449
14,916
14,498
(301,194)
485
0
0
(72,598)

1,119,562
0
(39,427)
1,413,238

915,119
0
84,006
401,279

999,275
0
(123,396)
449,172

601,158
0
(153,459)
25,671

815,226
426,463
(301,679)
434,405

790,998
438,463
(36,228)
439,327

0.03
4.36
0.99
0.18
0.25
95.19
2.82
-0.84
-3.01
-2.84

0.05
5.43
0.16
0.51
0.40
88.97
1.17
2.85
8.76
8.75

0.20
6.65
0.68
0.50
0.51
93.80
1.30
-5.88
-13.14
-12.33

0.10
13.66
0.00
0.17
0.69
97.29
1.79
-8.85
-21.92
-18.94

0.12

0.39

0.00
0.98

0.00
0.89

69,987

73,801

117,943

134,812

33,420

54,622

67,277

32,983

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

1.40
-25.92
-67.82
-42.53

1.33
-4.09
-9.67
-4.46

2.10

4.19

4.69

16.53

0.00
-19.78

-4.55
0.00
-1.37
38.79

8.86
0.00
2.91
31.62

-11.66
0.00
-4.28
30.61

-62.77
0.00
-5.06
16.48

-181.87

-0.13
-9.96
12.83

-0.01
-1.20
11.63

Financial Statement Analysis of Non Financial Sector 2010

Kohinoor 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

2005

2006

2007

2008

3,841,463

4,104,627

4,104,627

4,104,627

5,074,467
3,841,463
163,504
0

5,561,093
4,099,627
268,132
5,000

5,561,093
4,099,627
268,132
5,000

5,561,093
4,099,627
268,132
5,000

3,088,372
139,334
1,155,956
594,753
211,160
987,169
3,222,566
2,534,289
688,277
2,013,425

3,718,892
181,197
1,614,546
1,038,802
275,634
608,713
4,679,882
3,645,542
1,034,340
1,438,956

3,718,892
181,197
1,614,546
1,038,802
275,634
608,713
4,679,882
3,645,542
1,034,340
1,438,956

3,718,892
181,197
1,614,546
1,038,802
275,634
608,713
4,679,882
3,645,542
1,034,340
1,438,956

199,995

119,997

119,997

119,997

1,813,430
1,693,844
330,591
330,591
0
1,363,253

1,318,959
1,704,681
330,591
330,591
0
1,374,090

1,318,959
1,704,681
330,591
330,591
0
1,374,090

1,318,959
1,704,681
330,591
330,591
0
1,374,090

3,840,805
1,061,002
2,779,803
3,636,731

6,450,087
1,346,094
5,103,993
5,728,198

6,450,087
1,346,094
5,103,993
5,728,198

6,450,087
1,346,094
5,103,993
5,728,198

204,074
256,997

721,889
347,377

721,889
347,377

721,889
347,377

(Thousand Rupees)
2009
2010
5,628,503
76,673
7,643,941
5,483,273
272,679
42,474
0
26,083
3,415,467
281,229
1,226,956
872,369
172,526
862,387
6,150,478
4,782,795
1,367,683
1,016,955
948,092
0
0
0
68,863
1,876,538
509,110
509,110
0
330,102
242,870
87,232
1,037,326

5,408,094
42,653
7,730,380
5,299,081
323,789
40,452
0
25,908
3,249,760
76,535
1,155,317
774,727
272,264
970,918
7,363,807
5,432,643
1,931,164
438,911
346,049
0
0
0
92,862
855,136
509,110
509,110
0
(678,128)
386,720
(1,064,847)
1,024,153
6,408,882
1,673,349
4,735,533
6,055,350
4,158,318
1,897,032
353,532
827,009
429,616
397,393
451,466
724,448
650,049
(1,118,974)
55,513
0
0
(152,880)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(182,124)
27,847
30,054
30,054

6,049
59,218
0
0

6,049
59,218
0
0

6,049
59,218
0
0

7,708,699
2,248,052
5,460,647
7,032,940
5,364,632
1,668,308
675,759
974,488
502,178
472,310
590,395
706,782
610,484
(694,889)
54,340
0
0
329,628

3,707,269
199,995
(240,025)
2,734,284

3,143,637
119,997
(53,169)
3,765,539

3,143,637
119,997
(53,169)
3,765,539

3,143,637
119,997
(53,169)
3,765,539

2,893,492
948,092
(749,229)
5,730,887

1,294,046
346,049
(1,174,487)
5,778,692

0.29
3.65
15.49
0.55
0.96
94.69
3.09
-2.85
-10.30
-5.42
-6.99
3.32

0.32
6.34
16.11
0.82
0.79
88.81
3.59
0.08
0.36
0.18

0.32
6.34
16.11
0.82
0.79
88.81
3.59
0.08
0.35
0.19

0.32
6.34
16.11
0.82
0.79
88.81
3.59
0.08
0.35
0.19

0.22
9.17
11.32
0.85
0.56
91.23
3.82
-8.24
-38.81
-23.02

0.15
11.30
12.09
0.74
0.44
94.48
9.12
-12.64
-81.93
-53.44

256,997

347,377

347,377

347,377

140,054

408,655

408,655

408,655

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

90

3.99

3.99

3.99

6.28
-0.14
-9.01
0.05
-14.72
36.86

5.55
-0.72
-17.46
-0.02
-23.07
16.80

-4.74
0.00
-6.35
51.24

0.09
0.00
-1.61
51.56

0.09
0.00
-1.61
51.56

0.09
0.00
-1.61
51.56

Financial Statement Analysis of Non Financial Sector 2010

Kohinoor 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

2005

2006

2007

2008

712,037

1,124,428

1,123,377

1,201,968

1,632,468
712,037
54,115
0

2,105,479
1,124,428
70,455
0

2,004,362
1,123,377
60,999
0

2,003,895
1,201,968
59,336
0

977,491
197,501
528,844
17,890
26,693
206,563
2,008,532
691,520
1,317,012
157,195

824,581
170,191
542,502
29,758
466
81,664
1,263,358
501,124
762,234
271,907

739,561
144,352
442,694
48,081
482
103,952
1,127,355
488,228
639,127
303,847

1,085,587
8,519
703,921
68,377
1,355
303,415
1,371,711
767,475
604,236
472,618

157,195
(476,199)
394,875
394,875
0
(871,074)

271,907
413,744
1,300,000
1,300,000
0
(886,256)

303,847
431,736
1,300,000
1,300,000
0
(868,264)

472,618
443,226
1,300,000
1,300,000
0
(856,774)

1,517,858
494,224
1,023,634
1,356,141

2,152,185
688,760
1,463,425
1,912,039

2,418,373
1,214,997
1,203,376
2,149,715

2,511,538
1,598,760
912,778
2,242,794

161,717
77,848

240,146
105,818

268,658
123,855

268,744
130,773

(Thousand Rupees)
2009
2010
1,223,998
0
2,387,557
1,218,664
65,480
0
516
4,819
1,369,117
1,357
953,282
88,546
71,500
254,432
1,347,931
950,202
397,729
1,005,031
575,226
397,000
0
32,805
0
240,154
1,300,000
1,300,000
0
(1,059,846)
0
(1,059,846)
0

1,210,883
0
2,382,968
1,199,289
65,916
0
274
11,320
1,472,305
3,004
1,009,537
164,136
41,500
254,127
1,527,764
1,137,469
390,295
772,037
336,753
397,000
0
38,284
0
383,387
1,300,000
1,300,000
0
(916,613)
0
(916,613)
0
4,214,153
2,374,711
1,839,442
3,546,852
2,588,777
958,075
667,301
199,112
102,183
96,929
325,109
303,085
253,281
173,742
30,268
65,000
0
96,950

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

62,642
21,678
0
0

36,565
21,820
97,500
0

36,964
18,051
0
0

23,269
12,652
0
0

2,885,619
1,794,879
1,090,740
2,645,530
1,897,917
747,613
240,089
163,102
72,577
90,525
250,108
275,053
230,245
(191,207)
11,025
0
0
(248,025)

(319,004)
0
40,964
691,520

685,651
0
(82,755)
501,124

735,583
0
18,913
488,228

915,844
0
10,617
767,475

1,245,185
575,226
(202,232)
1,525,428

1,155,424
336,753
78,474
1,474,222

0.12
4.18
1.18
0.90
0.49
89.35
-4.55
3.66
-12.81
-23.91

0.16
5.69
1.38
1.10
0.65
88.84
3.71
2.01
-117.09
19.95
0.15
3.97

0.17
4.75
1.99
1.30
0.66
88.89
3.31
1.94
8.74
5.20

0.06
4.94
2.72
1.10
0.79
89.30
4.16
1.12
5.32
2.82

0.12
9.53
3.07
1.11
1.02
91.68
9.80
-7.84
-55.96
-17.70

0.14
7.19
3.89
1.57
0.96
84.17
6.00
6.59
55.73
14.47
2.21
4.17
1.69
4.12
0.04
1.10
2.95

77,848

105,818

123,855

130,773

63,500

122,363

114,860

123,973

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.87

91

5.46

3.57

3.03
0.17
-6.63
-0.11
-1.56
1.85

4.13
0.00
1.04
-12.06

1.70
0.00
0.11
3.18

1.53
0.00
0.15
3.32

0.93
0.00
0.08
3.41

Financial Statement Analysis of Non Financial Sector 2010

Kohinoor 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

2005

2006

2007

2008

10,836,428

3,561,259

3,971,021

3,972,540

13,407,225
11,128,568
540,424
(292,140)

5,144,283
3,561,259
253,478
0

5,475,591
3,971,021
327,480
0

6,048,099
3,972,540
363,853
0

5,135,379
518,142
2,860,570
732,979
360,231
663,457
4,700,328
3,642,713
1,057,615
4,071,560

7,778,730
436,811
1,607,795
887,407
3,828,749
1,017,968
3,909,345
2,938,757
970,588
2,723,236

10,513,032
63,371
1,755,097
1,062,320
5,937,832
1,694,412
4,509,338
2,775,505
1,733,833
2,680,804

9,542,782
75,387
1,673,062
1,340,460
3,756,737
2,697,136
5,485,049
3,994,524
1,490,525
3,044,651

184,150

71,250

3,887,410
7,199,919
962,158
962,158
0
6,237,761

2,651,986
4,707,408
1,058,374
1,058,374
0
3,649,034

2,680,804
7,293,911
1,455,262
1,455,262
0
5,838,649

3,044,651
4,985,622
1,455,262
1,455,262
0
3,530,360

9,060,371
6,357,616
2,702,755
7,173,318

6,903,625
3,209,128
3,694,497
5,881,818

7,140,167
2,911,779
4,228,388
6,094,641

7,558,322
3,694,079
3,864,243
6,395,622

1,887,053
390,763

1,021,807
538,982

1,045,526
520,552

1,162,700
543,540

(Thousand Rupees)
2009
2010
8,143,655
92,336
6,552,906
4,047,897
369,616
0
3,969,805
33,617
5,131,884
80,297
1,779,826
1,050,101
607,610
1,614,050
6,762,527
5,727,513
1,035,014
2,190,079
2,019,490
0
0
0
170,589
4,322,933
1,455,262
1,455,262
0
1,604,079
583,336
1,020,743
1,263,592

10,501,191
86,324
9,275,570
6,409,975
371,618
0
3,970,005
34,887
6,556,108
78,851
2,393,113
1,329,065
642,111
2,112,968
8,169,138
6,838,894
1,330,244
1,853,068
1,695,072
0
0
0
157,996
7,035,093
1,455,262
1,455,262
0
1,906,006
607,402
1,298,604
3,673,825
10,693,338
4,287,277
6,406,061
8,692,529
3,347,817
5,344,712
2,000,809
630,244
397,818
232,426
901,039
1,072,768
1,027,891
376,448
83,824
0
0
(403,780)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,223,666
(8,752)
0
80,180

354,984
33,510
0
105,837

(28,293)
41,671
0
0

130,805
38,350
0
0

8,458,899
3,006,688
5,452,211
7,198,993
3,192,060
4,006,933
1,259,906
662,903
464,848
198,055
807,226
1,260,230
998,029
(536,676)
55,753
0
0
106,116

11,271,479
184,150

7,430,644
71,250
321,474
3,010,007

9,974,715
0
(69,964)
2,775,505

8,030,273
0
92,455
3,994,524

6,513,012
2,019,490
(592,429)
7,747,003

8,888,161
1,695,072
292,624
8,533,966

1.32
6.49
12.85
0.61
1.99
85.20
1.41
2.60
5.96
3.80

1.57
8.46
14.88
0.49
2.33
85.36
0.99
-0.22
-0.47
-0.33

0.26
14.90
12.41
0.64
0.76
85.11
2.07
-4.01
-11.53
-7.38

0.25
10.03
12.43
0.63
0.80
81.29
1.42
2.48
6.63
4.89

390,763

538,982

520,552

543,540

378,883

448,072

603,951

882,335

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

3,826,863

H.Key Performance Indicators

0.34
4.18
8.09
0.57
1.09
79.17
1.22
11.15
26.26
16.94

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

4.29

4.07

4.52

4.75
0.46
-6.34
0.01
-4.07
29.71

4.47
1.37
3.52
-0.04
2.01
48.34

13.51
0.00

5.14
0.00
3.04
44.48

-0.40
0.00
-0.48
50.12

1.73
0.00
0.64
34.26

74.83

92

0.94
11.67
17.73
0.56
1.74
84.62
1.71
0.93
2.13
1.45

Financial Statement Analysis of Non Financial Sector 2010

Landmark Spinning 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

2005

2006

2007

2008

152,879

152,870

152,862

240,569

209,678
152,879
7
0

209,678
152,870
9
0

209,678
152,862
8
0

297,391
240,569
7
0

73,011
80
0
0
0
72,931
252,466
54,012
198,454
2,986

870
74
0
0
0
796
199,013
0
199,013
0

613
74
0
0
0
539
199,548
0
199,548
0

611
72
0
475
0
64
200,426
0
200,426
0

2,986
(29,562)
121,237
121,237
0
(150,799)

0
(45,273)
121,237
121,237
0
(166,510)

0
(46,073)
121,237
121,237
0
(167,310)

0
40,754
121,237
121,237
0
(80,483)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
43,576

0
72,708

0
797

0
885

(Thousand Rupees)
2009
2010
240,588
0
297,391
240,563
6
0
0
25
589
76
0
475
0
39
1,456
0
1,456
199,893
0
199,893
0
0
0
39,829
121,237
121,237
0
(169,122)
0
(169,122)
87,713

240,582
0
297,391
240,557
5
0
0
25
590
76
0
475
0
39
382
0
382
201,859
0
201,859
0
0
0
38,931
121,237
121,237
0
(170,019)
0
(170,019)
87,713
0
0
0
0
0
0
0
896
0
896
488
1
0
(897)
0
0
0
(1,966)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(43,579)
0
0
0

(15,711)
0
0
0

(800)
0
0
0

(885)
0
0
0

0
0
0
0
0
0
0
924
0
924
466
2
0
(926)
0
0
0
(827)

(26,576)
0
(43,579)
54,012

(45,273)
0
(15,711)
0

(46,073)
0
(800)
0

40,754
0
(885)
0

239,721
0
(926)
0

240,790
0
(897)
0

0.00

0.00

0.00

0.00

0.38

1.44

0.00
0.29

0.00
0.00

0.00
0.00

0.00
0.00

0.00
0.40

0.00
1.54

43,576

72,708

797

885

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

-8.64
-17.61
560.72
-564.93

-4.40
-8.28
41.99
43.73

-4.33
-0.52
1.75
1.75

4.92
-0.45
33.28
33.28

5.06
-0.38
-2.30
-0.66

5.19
-0.37
-2.28
-0.37

0.00
-3.59
-2.44

0.00
-1.30
-3.73

0.00
-0.07
-3.80

0.00
-0.07
3.36

0.00
-0.08
3.29

-0.01
-0.07
3.21

Financial Statement Analysis of Non Financial Sector 2010

Mahmood 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

2005

2006

2007

2008

1,312,652

1,665,827

1,656,746

1,755,924

2,592,148
1,312,652
75,692
0

2,964,341
1,665,827
111,865
0

3,122,874
1,656,746
168,750
0

3,206,068
1,755,924
174,020
0

1,458,149
9,790
982,130
44,813
284,590
136,826
897,385
637,421
259,964
366,446

1,525,485
7,584
939,876
69,394
273,300
235,331
1,088,869
843,232
245,637
550,619

2,054,042
8,849
1,130,147
97,238
261,151
556,657
1,407,252
1,030,593
376,659
601,619

2,598,381
7,612
1,646,959
145,331
273,106
525,373
1,924,504
1,549,880
374,624
748,559

366,446
1,506,970
99,740
99,740
0
1,407,230

550,619
1,551,824
99,850
99,850
0
1,451,974

601,619
1,701,917
99,850
99,850
0
1,602,067

748,559
1,681,242
99,850
99,850
0
1,581,392

2,917,257
398,915
2,518,342
2,530,343

3,901,261
1,623,072
2,278,189
3,497,209

4,518,527
1,674,178
2,844,349
4,038,047

5,073,169
2,432,918
2,640,251
4,478,254

386,914
155,667

404,052
166,900

480,480
180,592

594,915
332,926

(Thousand Rupees)
2009
2010
1,977,159
144
3,256,301
1,632,149
180,122
0
338,388
6,478
2,441,209
9,226
1,443,806
387,579
262,280
338,317
1,972,157
1,592,346
379,811
734,754
595,030
0
0
0
139,724
1,711,456
99,850
99,850
0
1,611,606
7,120
1,604,486
0

2,341,767
92,958
3,431,711
1,681,073
167,646
0
256,658
311,078
2,672,950
15,358
1,642,560
420,538
269,408
325,087
1,955,831
1,462,730
493,101
809,170
688,597
0
0
0
120,573
2,249,716
150,000
150,000
0
2,099,716
7,120
2,092,596
0
8,135,551
1,825,273
6,310,278
6,628,423
4,450,162
2,178,261
1,507,128
578,128
269,381
308,747
429,116
340,467
301,389
646,039
85,000
90,000
0
1,061,188

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

207,476
35,848
24,935
0

177,682
34,510
39,940
0

260,510
40,026
0
0

82,715
0
0
0

6,811,268
3,285,910
3,525,358
5,727,025
3,978,943
1,748,082
1,084,243
585,381
227,972
357,409
350,873
381,250
354,654
190,205
39,950
39,940
50,150
572,819

1,873,416
0
146,693
637,421

2,102,443
0
103,232
843,232

2,303,536
0
220,484
1,030,593

2,429,801
0
82,715
1,549,880

2,446,210
595,030
110,315
2,187,376

3,058,886
688,597
471,039
2,151,327

0.38
1.98
1.54
1.05
1.62
86.74
0.84
9.59
15.27
13.29
6.88
2.97

0.32
3.26
1.78
1.22
1.40
89.64
1.06
5.96
11.62
8.94
3.58
4.15

0.26
4.22
2.15
1.22
1.46
89.37
1.18
7.55
16.01
11.83

0.33
5.60
5.69
1.54
1.24
84.08
1.58
4.34
11.21
7.80
3.76
4.72
1.54
2.79
0.21
15.05
171.40

0.36
4.18
5.17
1.62
1.37
81.47
1.23
13.70
32.62
23.47
6.23
4.95
3.14
7.94
0.38
37.40
149.98

155,667

166,900

180,592

332,926

57,845

127,242

190,691

221,160

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.22
4.36
2.86
1.17
1.35
88.27
1.59
2.05
4.89
3.49

4.00

3.08

7.11
0.00
17.21
151.09

4.55
0.00
14.34
155.42

5.77
0.00
22.08
170.45

1.63
0.00
8.28
168.38

Financial Statement Analysis of Non Financial Sector 2010

Maqbool 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

2005

2006

2007

2008

603,058

628,841

622,921

593,974

865,356
603,058
21,838
0

952,751
628,841
61,850
0

955,127
622,921
61,651
0

973,944
593,974
56,119
0

251,754
3,348
127,329
46,417
870
73,790
259,192
94,587
164,605
311,742

333,670
586
211,295
70,179
869
50,741
383,224
260,626
122,598
314,125

390,437
2,380
226,068
109,024
869
52,096
503,516
342,541
160,975
305,123

577,171
2,744
223,708
299,676
868
50,175
742,653
583,018
159,635
250,190

311,742
283,878
168,000
168,000
0
115,878

314,125
265,162
168,000
168,000
0
97,162

305,123
204,719
168,000
168,000
0
36,719

250,190
178,302
168,000
168,000
0
10,302

815,685
484,203
331,482
733,345

1,432,671
1,194,586
238,085
1,304,558

1,634,460
1,368,870
265,590
1,566,059

1,797,354
1,337,146
460,208
1,672,579

82,340
29,437

128,113
38,051

68,401
36,716

124,775
55,035

(Thousand Rupees)
2009
2010
723,032
1,850
1,205,822
716,757
56,778
0
868
3,558
614,221
8,205
286,307
276,956
0
42,753
888,734
604,766
283,968
136,862
57,075
62,807
0
6,791
10,189
311,657
168,000
168,000
0
(6,611)
0
(6,611)
150,268

696,829
3,880
1,235,266
687,581
58,619
0
868
4,500
318,317
494
166,592
114,659
0
36,572
451,755
282,566
169,189
162,754
65,625
62,807
0
9,537
24,785
400,636
168,000
168,000
0
82,368
0
82,368
150,268
2,183,978
1,664,916
519,062
1,890,570
1,369,255
521,315
293,408
86,433
43,706
42,727
148,905
94,511
93,709
118,490
13,475
37,800
0
438,355

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

40,270
6,301
10,500
0

30,397
7,102
0
0

(41,707)
8,170
0
0

4,402
8,837
0
0

1,807,314
935,071
872,243
1,636,003
1,181,986
454,017
171,311
80,739
52,471
28,268
120,596
115,037
112,872
(16,272)
8,722
0
0
59,799

595,620
0
23,469
94,587

579,287
0
23,295
260,626

509,842
0
(49,877)
342,541

428,492
0
(4,435)
583,018

448,519
57,075
(24,994)
661,841

563,390
65,625
67,215
348,192

0.20
1.77
5.69
0.95
0.97
89.91
2.01
6.13
17.64
9.91
3.24
6.41

0.19
4.19
4.90
1.49
0.87
91.06
2.63
3.35
11.07
5.17

0.22
4.60
6.67
1.61
0.78
95.82
3.95
-4.22
-17.75
-7.66

0.41
4.05
16.67
1.53
0.78
93.06
5.57
0.40
2.30
0.94

0.32
6.37
15.32
1.35
0.69
90.52
3.29
-1.30
-6.64
-3.71

0.25
4.33
5.25
2.15
0.70
86.57
1.53
10.07
33.27
23.42
2.78
13.11
2.26
5.43
0.71
6.25
23.85

29,437

38,051

36,716

55,035

14,437

60,079

75,163

72,840

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

6.78

7.23

8.03

6.31
0.86
-0.90
0.06
-1.49
18.55

4.94
0.00
2.02
16.90

2.12
0.00
1.39
15.78

-2.55
0.00
-2.97
12.19

0.24
0.00
-0.26
10.61

Financial Statement Analysis of Non Financial Sector 2010

Masood 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

2005

2006

2007

2008

1,882,373

2,216,416

2,808,261

3,025,599

1,944,852
1,882,373
81,979
0

3,213,760
2,216,416
182,865
0

3,156,186
2,808,261
138,239
0

3,500,076
3,025,599
226,193
0

3,976,717
651,010
1,784,057
1,015,202
0
526,448
3,535,032
2,677,548
857,484
690,447

4,302,876
59,234
1,891,260
1,414,949
0
937,433
4,169,732
3,168,665
1,001,067
685,448

4,517,871
75,568
1,813,977
1,611
0
2,626,715
4,809,285
3,684,328
1,124,957
597,897

5,208,822
137,255
1,838,707
1,933,875
0
1,298,985
3,946,816
2,621,724
1,325,092
2,096,885

690,447
1,633,611
900,000
300,000
600,000
733,611

685,448
1,664,112
900,000
300,000
600,000
764,112

597,897
1,918,950
900,000
300,000
600,000
1,018,950

2,096,885
2,190,720
900,000
300,000
600,000
1,290,720

3,245,400
158,924
3,086,476
2,673,342

5,006,528
224,223
4,782,305
4,116,542

5,936,703
247,127
5,689,576
4,949,527

7,884,785
573,659
7,311,126
6,428,798

572,058
288,811

889,986
383,500

987,176
386,654

1,455,987
517,713

(Thousand Rupees)
2009
2010
3,166,615
22,966
4,488,594
3,126,591
87,216
0
0
17,058
6,455,124
321,026
1,727,771
3,197,857
0
1,208,470
5,151,640
3,654,594
1,497,046
1,949,718
1,800,948
0
0
148,770
0
2,520,381
900,000
900,000
0
1,240,961
300,000
940,961
379,420

3,954,541
135,173
5,355,230
3,807,338
439,278
0
0
12,030
8,342,574
482,074
1,789,329
3,538,815
0
2,532,356
6,855,439
4,752,138
2,103,301
1,767,529
1,581,643
0
0
185,886
0
3,674,147
1,141,667
1,141,667
0
2,153,060
600,000
1,553,060
379,420
14,720,830
1,200,528
13,520,302
12,085,511
6,484,614
5,600,897
2,635,319
1,149,859
836,458
313,401
2,099,082
595,274
540,990
904,428
143,533
171,250
0
837,370

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

130,160
23,863
22,500
0

173,998
52,329
135,000
0

190,752
61,073
110,448
0

408,010
74,257
124,500
0

10,946,180
674,271
10,271,909
8,851,416
3,958,919
4,892,497
2,094,764
836,195
605,061
231,134
1,510,507
719,855
648,177
550,111
98,405
135,000
0
632,821

2,324,058
0
83,797
2,677,548

2,349,560
0
(13,331)
3,168,665

2,516,847
0
19,231
3,684,328

4,287,605
0
209,253
2,621,724

4,470,099
1,800,948
316,706
5,455,542

5,441,676
1,581,643
589,645
6,333,781

0.52
6.84
24.53
0.96
1.32
81.53
2.76
5.24
19.86
11.99
2.68
4.29

0.68
6.58
29.21
1.14
1.25
80.86
2.82
6.16
23.35
12.56
3.35
6.34
1.85
5.03
0.09
5.02
28.00

0.59
4.04
24.04
1.20
1.22
82.10
2.35
8.25
29.20
18.25
4.44
8.23
2.67
6.14
0.10
6.66
32.18

288,811

383,500

386,654

517,713

154,904

335,266

416,657

538,964

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.47
4.77
31.28
0.55
1.12
82.37
2.59
2.54
10.14
6.48
4.72
1.82

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.35
6.70
28.26
0.77
1.03
82.22
2.92
2.81
10.55
7.45
0.90
2.65

0.02
7.02
0.03
0.81
0.94
83.37
2.82
2.76
10.65
7.84
1.17
3.27

4.01
0.00
3.54
54.45

3.48
0.00
4.06
55.47

3.21
0.00
4.32
63.97

5.17
0.00
11.13
73.02

Financial Statement Analysis of Non Financial Sector 2010

Mehr Dastagir 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

2005

2006

2007

2008

246,829

235,846

225,307

214,369

249,603
246,829
7,594
0

249,172
235,846
7,594
0

249,226
225,307
10,622
0

248,085
214,369
10,038
0

381,904
1,474
22,857
284,645
300
72,628
381,515
34,714
346,801
156,805

182,525
1,490
6,970
97,568
300
76,197
181,705
28,880
152,825
146,708

155,564
1,491
3,393
40,110
300
110,270
150,073
12,415
137,658
141,809

121,683
1,492
13,440
14,309
416
92,026
56,225
9,309
46,916
77,764

156,805
90,413
92,000
92,000
0
(1,587)

146,708
89,958
92,000
92,000
0
(2,042)

141,809
88,989
92,000
92,000
0
(3,011)

77,764
202,063
92,000
92,000
0
110,063

322,701
322,701
0
307,724

247,932
247,932
0
235,558

239,196
239,196
0
225,324

230,268
230,268
0
262,346

14,977
5,275

12,374
8,995

13,872
10,747

(32,078)
12,488

(Thousand Rupees)
2009
2010
1,333
0
3,668
851
115
0
416
66
146,138
33
0
1,047
0
145,059
94,440
32,159
62,282
0
0
0
0
0
0
53,031
92,000
92,000
0
(39,085)
0
(39,085)
116

748
0
3,536
681
109
0
0
66
112,637
112
0
1,047
0
111,479
62,413
0
62,413
0
0
0
0
0
0
50,972
92,000
92,000
0
(41,028)
0
(41,028)
0
0
0
0
0
0
0
0
1,941
20
1,922
250
2
0
(1,944)
0
0
0
(221)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,147
568
0
0

850
1,306
0
0

227
(119)
0
0

(42,626)
1,151
0
0

89,000
89,000
0
111,215
84,561
26,654
(22,215)
5,131
252
4,879
1,274
570
400
(13,716)
0
0
0
(132,920)

247,218
0
4,579
34,714

236,666
0
(456)
28,880

230,798
0

279,827
0
(43,777)
9,309

53,031
0
(13,716)
32,159

50,972
0
(1,944)
0

0.75
1.41
88.21
0.51
1.00
95.36
5.95
0.99
15.40
2.80

0.55
1.02
39.35
0.59
1.00
95.01
3.65
0.16
0.94
0.35

0.28
1.21
16.77
0.63
1.04
94.20
3.28
0.06
0.25
0.10

0.29
1.13
6.21
0.69
2.16
113.93
0.66
-11.89
-29.29
-16.70

0.01
0.64
1.18
0.60
1.55
124.96
1.78
-5.67
-10.75
-8.24

0.02

5,275

8,995

10,747

12,488

4,555

2,541

2,898

2,596

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

12,415

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

14.12

35.57

70.50

17.13

1.59
0.00
0.50
9.83

0.34
0.00
-0.05
9.78

0.09
0.00

-18.51
0.00
-4.76
21.96

9.67

-33.29
-15.41
-1.41
-1.49
5.76

0.00
1.80

1.22
-1.49
-3.74
-3.74

0.00
-0.21
5.54

Financial Statement Analysis of Non Financial Sector 2010

Mian Textile 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

2005

2006

2007

2008

740,451

712,913

631,371

765,745

1,401,517
732,692
37,808
7,759

1,435,404
709,033
34,366
3,880

1,336,828
631,371
33,138
0

822,277
765,745
9,265
0

414,600
1,826
276,702
34,623
0
101,449
549,775
419,191
130,584
262,310

399,889
1,916
298,516
35,592
0
63,865
502,008
372,659
129,349
321,931

357,883
5,630
251,317
20,054
0
80,882
576,484
298,409
278,075
340,689

203,584
1,696
114,473
14,684
0
72,731
339,371
135,106
204,265
494,390

262,310
342,966
221,052
221,052
0
121,914

321,931
288,863
221,052
221,052
0
67,811

340,689
72,081
221,052
221,052
0
(148,971)

494,390
135,568
221,052
221,052
0
(85,484)

749,517
444,510
305,007
703,816

927,489
601,994
325,495
901,334

747,920
531,755
216,165
746,229

540,612
468,828
71,784
610,808

45,701
30,427

26,155
39,143

1,691
59,336

(70,196)
39,463

(Thousand Rupees)
2009
2010
734,021
0
816,687
723,526
40,885
0
0
10,495
159,358
463
74,852
26,223
0
57,820
309,311
140,464
168,847
547,022
443,456
38,564
0
5,224
59,779
37,046
221,052
221,052
0
(533,396)
0
(533,396)
349,389

696,299
0
819,230
688,533
37,891
0
0
7,766
104,052
1,412
27,061
19,874
0
55,706
238,244
112,303
125,941
562,507
421,689
38,564
0
6,204
96,051
(400)
221,052
221,052
0
(558,079)
0
(558,079)
336,627
268,913
263,344
5,570
258,533
21,638
236,895
10,381
14,902
2,616
12,285
76,995
31,844
30,927
(36,071)
1,375
0
0
6,691

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(30,399)
3,486
0
0

(87,461)
4,806
0
0

(145,658)
3,705
0
0

(149,917)
2,670
0
0

261,679
240,158
21,521
286,394
63,354
223,040
(24,715)
14,886
4,918
9,968
59,557
38,321
37,320
(76,127)
0
0
0
(13,434)

605,276
0
(33,885)
419,191

610,794
0
(92,267)
372,659

412,770
0
(149,363)
298,409

629,958
0
(152,587)
135,106

584,068
443,456
(76,127)
583,920

562,107
421,689
(37,446)
533,992

0.07
6.23
4.62
0.65
0.75
93.90
2.37
-2.68
-8.47
-4.96

0.07
8.38
3.84
0.83
0.80
97.18
2.85
-7.71
-27.69
-14.38

0.04
11.78
2.68
0.76
0.62
99.77
12.72
-13.86
-80.71
-28.46

0.05
7.45
2.72
0.56
0.60
112.98
6.15
-15.31
-144.39
-28.75

0.09
14.64
10.02
0.29
0.52
109.44
23.12
-8.17
-88.21
-12.54

0.09
11.84
7.39
0.34
0.44
96.14
-2,001.38
-4.26
-196.86
-6.29

30,427

39,143

59,336

39,463

46,677

77,757

88,124

40,258

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.71

3.11

2.98

4.72

3.50
-1.04
-29.09
-0.02
-3.44
1.68

9.94
-0.17
-13.41
0.01
-1.69
-0.02

-4.06
0.00
-1.53
15.52

-9.43
0.00
-4.17
13.07

-19.48
0.00
-6.76
3.26

-27.73
0.00
-6.90
6.13

Financial Statement Analysis of Non Financial Sector 2010

Mohammad Farooq 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

2005

2006

2007

2008

1,422,650

1,454,173

1,389,831

1,297,346

1,469,855
1,422,650
40,877
0

1,559,119
1,454,173
58,095
0

1,568,000
1,389,831
73,223
0

1,528,241
1,297,346
63,858
0

745,332
691
603,940
89,943
0
50,758
867,121
620,421
246,700
300,141

912,862
8,384
664,718
118,423
0
121,337
1,180,730
806,254
374,476
221,906

945,398
946
640,473
147,757
0
156,222
1,312,944
723,514
589,430
157,883

1,035,925
6,159
692,566
176,425
0
160,775
1,441,696
767,108
674,588
106,292

300,141
1,000,720
188,892
188,892
0
811,828

221,906
964,399
188,892
188,892
0
775,507

157,883
864,402
188,892
188,892
0
675,510

106,292
785,283
188,892
188,892
0
596,391

722,423
99,012
623,411
599,443

1,018,136
235,704
782,432
837,747

1,410,318
121,376
1,288,942
1,242,691

1,229,399
93,959
1,135,440
1,119,703

122,980
89,813

180,389
139,629

167,627
164,379

109,696
156,762

(Thousand Rupees)
2009
2010
1,268,908
0
1,528,615
1,246,055
58,082
0
0
22,853
710,077
7,603
431,950
147,557
0
122,967
1,483,010
904,418
578,592
133,603
43,988
80,000
0
9,615
0
362,372
188,892
188,892
0
(614,538)
42,749
(657,287)
788,018

1,438,592
0
1,768,012
1,432,623
53,224
0
0
5,969
489,164
803
284,075
85,861
0
118,425
905,679
411,506
494,173
875,357
748,864
80,000
0
46,493
0
146,720
188,892
188,892
0
(1,040,860)
42,749
(1,083,609)
998,688
743,279
316,410
426,869
933,514
431,043
502,471
(190,235)
138,419
38,233
100,186
202,836
117,397
106,421
(430,828)
6,030
0
0
(8,127)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

440
4,676
0
0

(34,201)
8,149
0
0

(89,762)
12,577
0
0

(106,378)
12,268
0
0

1,101,670
318,167
783,503
1,293,848
504,768
789,080
(192,178)
135,194
59,701
75,493
210,516
99,341
97,050
(402,271)
8,816
0
0
47,469

1,300,861
0
(4,236)
620,421

1,186,305
0
(42,350)
806,254

1,022,285
0
(102,339)
723,514

891,575
0
(118,646)
767,108

495,975
43,988
(411,087)
948,406

1,022,077
748,864
(436,858)
1,160,370

0.10
4.75
12.45
0.33
0.86
82.98
1.17
0.02
0.05
0.04

0.11
7.92
11.63
0.43
0.77
82.28
1.45
-1.51
-3.48
-2.75

0.11
6.80
10.48
0.60
0.72
88.11
1.70
-3.82
-9.82
-8.13

0.13
7.39
14.35
0.53
0.72
91.08
1.97
-4.56
-12.90
-11.12

0.10
9.02
13.39
0.56
0.48
117.44
4.46
-18.66
-70.10
-57.98

0.10
15.79
11.55
0.39
0.54
125.59
12.14
-22.06
-169.25
-56.76

89,813

139,629

164,379

156,762

34,339

80,621

95,901

90,880

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

1.20

1.53

2.20

1.78

2.55
-3.14
-36.51
0.03
-21.76
19.18

2.62
-3.05
-57.96
0.00
-23.13
7.77

0.06
0.00
-0.22
52.98

-3.36
0.00
-2.24
51.06

-6.36
0.00
-5.42
45.76

-8.65
0.00
-6.28
41.57

Financial Statement Analysis of Non Financial Sector 2010

Mubarak 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

2005

2006

2007

2008

69,127

65,212

65,114

60,643

148,890
69,127
4,005
0

149,948
65,212
4,972
0

151,329
65,114
4,716
0

65,280
60,643
4,577
0

34,546
195
4,904
24,481
0
4,966
113,361
65,610
47,751
6,910

40,044
704
4,197
27,458
0
7,685
124,346
69,908
54,438
0

47,396
2,502
0
3,207
0
41,687
105,425
42,499
62,926
1,279

39,338
314
0
26,493
0
12,531
108,172
42,500
65,672
0

6,910
(16,598)
27,000
27,000
0
(43,598)

0
(19,090)
27,000
27,000
0
(46,090)

1,279
5,806
54,000
54,000
0
(48,194)

0
(8,191)
54,000
54,000
0
(62,191)

47,105
47,105
0
54,847

76,077
76,077
0
68,678

92,088
92,088
0
79,810

83,483
83,483
0
85,599

(7,742)
22,455

7,399
7,881

12,278
11,305

(2,116)
8,559

(Thousand Rupees)
2009
2010
64,872
6,835
154,849
56,328
4,492
0
0
1,709
22,698
611
0
18,442
0
3,645
94,481
42,904
51,576
7,516
1,297
4,814
0
1,406
0
(14,427)
54,000
54,000
0
(86,029)
0
(86,029)
17,602

60,971
6,835
154,849
52,284
4,044
0
0
1,852
18,127
424
0
15,417
0
2,286
86,562
40,410
46,151
6,213
738
4,814
0
660
0
(13,676)
54,000
54,000
0
(84,216)
0
(84,216)
16,540
20,391
20,391
0
13,194
559
12,635
7,197
2,563
0
2,563
2,825
6,310
6,249
1,155
349
0
0
3,008

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(31,821)
209
0
0

(2,917)
386
0
0

195,337
479
0
0

(12,845)
426
0
0

51,564
51,564
0
48,658
16,801
31,857
2,906
3,642
45
3,597
6,496
7,022
6,904
(5,132)
606
0
0
3,140

(9,688)
0
(32,030)
65,610

(19,090)
0
(3,303)
69,908

7,085
0
194,858
42,499

(8,191)
0
(13,271)
42,500

(6,910)
1,297
(5,738)
44,201

(7,463)
738
806
41,149

0.22
3.45
51.97
0.45
0.30
116.44
-7.25
-26.99
2,512.51
-293.97

0.23
4.55
36.09
0.72
0.32
90.27
-6.51
-2.79
16.35
20.27

0.05
4.39
3.48
0.82
0.45
86.67
18.38
179.40
-2,940.94
-3,254.26

0.25
4.76
31.73
0.83
0.36
102.53
-13.21
-12.09
1,077.15
2,322.78

0.20
13.62
35.76
0.59
0.24
94.36
-7.07
-5.47
45.38
67.97

0.18
30.94
75.61
0.26
0.21
64.71
-6.78
1.39
-8.22
-16.07

9.61

18.13

-15.39
0.00
-2.46
-1.52

0.26
-9.95
0.03
-1.06
-2.67

1.18
5.67
0.03
0.15
-2.53

22,455

7,881

11,305

8,559

1,626

3,461

4,046

3,970

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

100

-67.55
0.00
-11.86
-6.15

-3.83
0.00
-1.22
-7.07

212.12
0.00
36.08
1.08

Financial Statement Analysis of Non Financial Sector 2010

Mukhtar 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

2005

2006

2007

2008

88,751

85,405

77,211

69,870

207,873
88,193
6,370
558

214,056
85,320
9,055
85

214,104
77,211
8,157
0

214,104
69,870
7,341
0

48,104
196
26,550
12,547
0
8,811
39,413
4,070
35,343
5,250

65,903
201
9,980
31,301
0
24,421
47,602
4,071
43,531
2,250

66,459
85
12,006
31,559
0
22,809
40,600
300
40,300
695

43,790
43
0
27,519
0
16,228
26,699
0
26,699
0

5,250
92,192
145,000
145,000
0
(52,808)

2,250
101,456
145,000
145,000
0
(43,544)

695
102,375
145,000
145,000
0
(42,625)

0
86,961
145,000
145,000
0
(58,039)

164,935
164,935
0
182,954

300,190
300,190
0
289,571

211,142
211,142
0
204,017

114,475
114,475
0
18,499

(18,019)
3,509

10,619
5,196

7,125
4,445

95,976
1,725

(Thousand Rupees)
2009
2010
78,466
0
214,104
77,319
6,608
0
0
1,147
3,094
40
0
1,661
0
1,393
23,825
0
23,825
0
0
0
0
0
0
57,736
145,000
145,000
0
(87,264)
0
(87,264)
0

72,516
0
214,104
71,369
5,950
0
0
1,147
2,314
25
0
911
0
1,378
23,809
0
23,809
0
0
0
0
0
0
51,021
145,000
145,000
0
(93,979)
0
(93,979)
0
0
0
0
0
0
0
0
6,746
0
6,746
360
16
0
(6,717)
0
0
0
(15)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(21,247)
825
0
0

5,449
1,501
0
0

2,685
1,056
0
0

93,691
60
0
0

0
0
0
0
0
0
0
29,225
0
29,225
360
0
0
(29,225)
0
0
0
446

97,442
0
(22,072)
4,070

103,706
0
3,948
4,071

103,070
0
1,629
300

86,961
0
93,631
0

57,736
0
(29,225)
0

51,021
0
(6,717)
0

0.32
0.04
7.61
1.21
1.22
110.92
0.48
-14.18
-20.61
-19.54

0.66
0.01
10.43
1.98
1.38
96.46
0.49
3.78
5.63
5.42

0.78
0.02
14.95
1.47
1.64
96.63
0.40
1.82
2.63
2.60

1.03
0.49
24.04
1.01
1.64
16.16
0.31
72.82
98.97
98.61

0.07

0.04

0.00
0.13

0.00
0.10

3,509

5,196

4,445

1,725

73

43

42

560

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

101

6.21

30.08

17.59

-12.88
0.00
-1.52
6.36

1.82
0.00
0.27
7.00

1.27
0.00
0.11
7.06

81.84
0.00
6.46
6.00

0.41
-29.94
-40.39
-40.39

0.47
-8.59
-12.35
-12.35

0.02
-2.02
3.98

0.00
-0.46
3.52

Financial Statement Analysis of Non Financial Sector 2010

N.P. 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

2005

2006

2007

2008

268,434

252,797

241,304

234,807

607,568
268,434
21,492
0

618,565
252,797
27,304
0

629,845
241,304
26,234
0

646,907
234,807
24,705
0

441,437
178,159
118,975
65,068
0
79,235
473,162
146,649
326,513
2,592

391,872
44,787
275,992
27,392
0
43,701
357,645
166,610
191,035
0

282,303
35,378
182,366
17,636
0
46,923
246,264
48,876
197,388
0

411,778
6,599
352,960
13,181
0
39,038
339,683
151,887
187,796
6,972

2,592
234,117
147,000
147,000
0
87,117

0
287,024
147,000
147,000
0
140,024

0
277,343
147,000
147,000
0
130,343

6,972
299,930
147,000
147,000
0
152,930

716,183
373,201
342,982
532,393

894,539
740,053
154,486
757,908

967,270
964,561
2,709
843,837

1,141,696
1,141,696
0
1,023,993

183,790
28,206

136,631
31,531

123,433
34,152

117,703
41,705

(Thousand Rupees)
2009
2010
229,536
0
664,066
228,041
24,558
0
0
1,495
396,091
27,250
290,197
32,628
0
46,016
301,933
121,586
180,346
32,519
0
0
0
3,852
28,668
291,175
147,000
147,000
0
144,175
0
144,175
0

229,248
0
668,023
227,753
22,487
0
0
1,495
527,067
7,446
441,494
26,436
0
51,692
348,369
54,958
293,411
34,369
0
0
0
5,695
28,674
373,577
147,000
147,000
0
226,577
0
226,577
0
1,630,785
1,630,785
0
1,452,039
1,029,613
422,425
178,747
75,732
16,494
59,238
148,218
8,193
7,198
122,968
39,911
29,400
0
19,228

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

144,119
31,200
235,200
0

81,447
25,697
0
0

115,456
26,474
48,510
0

69,489
22,703
49,047
42,000

1,156,970
1,156,970
0
1,089,125
732,469
356,656
67,846
39,318
384
38,934
102,015
20,684
19,068
10,125
2,427
0
0
113,562

236,709
0
(122,281)
146,649

287,024
0
55,750
166,610

277,343
0
40,472
48,876

306,902
0
(2,261)
151,887

323,695
0
7,698
121,586

407,947
0
53,657
54,958

0.51
2.15
9.09
1.01
0.93
74.34
2.03
18.80
48.56
46.33
0.48
6.02

0.20
3.06
3.06
1.39
1.10
84.73
1.25
12.03
31.26
31.10

0.22
2.19
1.82
1.85
1.15
87.24
0.89
19.77
40.92
40.92
1.83
5.30

0.06
1.22
1.15
1.77
1.21
89.69
1.16
11.88
24.07
23.79
0.95
3.23

0.20
1.79
2.82
1.85
1.31
94.14
1.15
1.59
3.43
3.21

0.10
0.50
1.62
2.16
1.51
89.04
1.02
17.80
37.00
33.61
2.83
3.69
18.08
7.54
0.05
5.65
25.41

28,206

31,531

34,152

41,705

15,367

27,402

21,177

13,914

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

102

3.24

20.12
0.00
7.68
15.93

9.10
0.00
3.79
19.53

11.94
0.00
6.05
18.87

6.09
0.00
3.18
20.40

3.99
1.53
0.88
0.34
0.52
19.81

Financial Statement Analysis of Non Financial Sector 2010

Nadeem 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

2005

2006

2007

2008

409,440

519,394

512,549

484,748

653,589
409,440
29,596
0

809,325
519,394
45,782
0

846,049
512,549
51,967
0

869,459
484,748
49,395
0

526,200
4,844
332,506
142,487
0
46,363
469,416
411,002
58,414
126,433

439,698
1,475
229,122
120,528
1,446
87,127
464,114
402,189
61,925
159,443

370,574
1,388
137,062
177,803
0
54,321
507,783
356,728
151,055
89,616

601,674
871
376,331
168,904
0
55,568
747,067
633,466
113,601
78,152

126,433
339,791
120,150
120,150
0
219,641

159,443
335,535
120,150
120,150
0
215,385

89,616
285,724
120,150
120,150
0
165,574

78,152
261,203
120,150
120,150
0
141,053

755,319
504,419
250,900
696,734

1,284,433
681,471
602,962
1,182,570

1,633,129
1,022,900
610,229
1,519,166

1,479,651
948,842
530,809
1,383,614

58,585
20,283

101,863
36,275

113,963
37,767

96,037
35,907

(Thousand Rupees)
2009
2010
443,859
0
878,644
443,054
46,084
0
0
805
451,943
932
287,024
105,901
7,864
50,222
581,968
479,997
101,971
44,549
9,571
0
0
8,630
26,348
269,284
120,150
120,150
0
149,134
15,575
133,559
0

443,859
0
878,644
443,054
46,084
0
0
805
451,943
932
287,024
105,901
7,864
50,222
581,968
479,997
101,971
44,549
9,571
0
0
8,630
26,348
269,284
120,150
120,150
0
149,134
15,575
133,559
0
1,628,484
880,168
748,316
1,472,229
992,553
479,676
156,256
50,904
12,880
38,023
99,094
92,856
91,123
11,036
8,082
0
0
231,295

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

8,979
3,465
12,015
0

6,984
9,745
0
0

1,591
9,200
0
0

(21,950)
7,545
0
0

1,628,484
880,168
748,316
1,472,229
992,553
479,676
156,256
50,904
12,880
38,023
99,094
92,856
91,123
11,036
8,082
0
0
231,295

466,224
0
(6,501)
411,002

494,978
0
(2,761)
402,189

375,340
0
(7,609)
356,728

339,355
0
(29,495)
633,466

313,833
9,571
2,954
489,569

313,833
9,571
2,954
489,569

0.31
4.37
18.86
0.81
1.12
92.24
1.75
0.99
2.68
2.06
0.46
2.27

0.27
4.90
9.38
1.34
0.95
92.07
1.86
0.74
2.07
1.45

0.35
4.65
10.89
1.85
0.73
93.02
2.09
0.17
0.51
0.37

0.23
5.46
11.42
1.36
0.81
93.51
3.16
-2.23
-8.03
-6.14

0.20
5.70
6.50
1.82
0.78
90.40
2.33
1.11
4.16
3.38

0.20
5.70
6.50
1.82
0.78
90.40
2.33
1.23
4.10
3.52

20,283

36,275

37,767

35,907

33,001

62,874

75,964

80,731

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

103

5.61

11.92

3.93

5.67
1.12
0.68
0.37
0.25
22.41

5.67
1.12
0.68
0.37
0.25
22.41

1.19
0.00
0.46
28.28

0.54
0.00
-0.23
27.93

0.10
0.00
-0.63
23.78

-1.48
0.00
-2.45
21.74

Financial Statement Analysis of Non Financial Sector 2010

Nagina Cotton 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

2005

2006

2007

2008

1,452,856

1,550,707

600,722

547,022

2,429,041
1,452,856
93,791
0

2,641,271
1,550,707
149,551
0

1,291,270
600,722
64,187
0

1,256,785
547,022
59,553
0

1,049,816
119,333
581,146
131,580
26,578
191,179
880,827
583,784
297,043
701,363

1,104,610
184,875
567,280
214,308
24,680
113,467
982,094
790,266
191,828
726,019

609,844
8,426
185,147
166,331
152,707
97,233
403,006
199,621
203,385
246,583

641,087
2,045
282,318
143,312
159,949
53,463
475,013
322,778
152,235
308,776

701,363
920,482
307,930
187,000
120,930
612,552

726,019
947,204
307,930
187,000
120,930
639,274

246,583
560,977
307,930
187,000
120,930
253,047

308,776
404,320
187,000
187,000
0
217,320

2,230,492
1,714,329
516,163
1,928,503

2,813,223
2,130,890
682,333
2,465,521

1,540,544
1,051,005
489,539
1,377,098

1,805,851
1,290,095
515,756
1,664,484

301,989
92,773

347,702
110,659

163,446
71,400

141,367
77,119

(Thousand Rupees)
2009
2010
681,104
4,623
1,278,155
512,635
55,442
0
162,155
1,691
609,035
4,887
338,033
156,798
0
109,318
585,487
477,728
107,758
290,923
156,597
60,000
2,832
17,791
53,704
413,728
187,000
187,000
0
224,895
256,898
(32,003)
1,833

754,338
760
1,370,989
553,831
56,234
0
198,126
1,621
501,502
1,774
403,275
62,142
0
34,312
333,443
159,026
174,417
260,157
203,233
0
2,832
19,546
34,547
662,240
187,000
187,000
0
473,407
256,899
216,508
1,833
2,746,754
606,709
2,140,045
2,259,995
1,729,229
530,766
486,759
160,841
82,676
78,165
238,933
116,311
106,621
262,551
6,129
0
0
357,350

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

156,307
24,961
39,841
0

99,111
16,176
57,918
0

54,882
7,700
0
0

12,611
9,000
0
0

2,158,571
1,249,702
908,868
1,941,715
1,429,330
512,385
216,856
110,083
57,315
52,768
171,199
109,638
103,218
14,651
0
0
0
17,152

1,621,845
0
91,505
583,784

1,673,223
0
25,017
790,266

807,560
0
47,182
199,621

713,096
0
3,611
322,778

704,651
159,429
14,651
637,157

922,397
206,065
256,422
365,091

0.32
2.58
5.90
0.89
1.19
86.46
1.72
8.61
19.98
12.97
3.30
3.84

0.43
5.23
7.62
1.06
1.12
87.64
1.80
3.84
10.61
6.02
1.43
4.96

0.81
4.80
10.80
1.27
1.51
89.39
1.16
2.84
7.28
4.42

0.64
4.62
7.94
1.52
1.35
92.17
1.94
1.05
2.61
1.66

0.28
5.08
7.26
1.67
1.04
89.95
2.12
1.18
3.58
2.07

0.19
4.23
2.26
2.19
1.50
82.28
0.90
20.62
48.80
32.27

92,773

110,659

71,400

77,119

57,565

147,219

74,002

83,422

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

104

8.32

6.40

6.39
1.14
0.68
0.02
0.78
22.12

6.81
3.46
9.56
0.60
13.71
35.41

7.01
0.00
7.02
49.22

3.52
0.00
4.44
50.65

3.56
0.00
2.52
30.00

0.70
0.00

Financial Statement Analysis of Non Financial Sector 2010

Nakshbandi 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

2005

2006

2007

2008

1,349,560

1,680,230

1,648,513

1,365,223

1,962,936
1,349,560
97,356
0

2,561,387
1,680,230
134,551
0

2,651,261
1,648,513
143,871
0

2,312,626
1,365,223
110,601
0

1,075,072
12,196
745,140
126,782
0
190,954
1,429,468
1,082,029
347,439
510,487

1,086,405
4,737
694,993
80,201
0
306,474
1,563,116
1,190,586
372,530
348,448

540,795
6,226
259,165
81,092
0
194,312
1,556,091
481,355
1,074,736
595,595

823,390
213,721
283,294
50,100
10
276,265
1,371,616
301,618
1,069,998
578,822

510,487
484,677
242,070
242,070
0
242,607

348,448
855,071
338,899
338,899
0
516,172

595,595
37,622
338,898
338,898
0
(301,276)

578,822
238,175
338,898
338,898
0
(100,723)

1,369,361
164,008
1,205,353
1,194,947

1,995,000
147,198
1,847,802
1,779,172

1,615,238
249,281
1,365,957
1,817,053

1,278,734
149,932
1,128,802
1,166,221

174,414
109,150

215,828
146,492

(201,815)
135,021

112,513
149,956

(Thousand Rupees)
2009
2010
1,547,133
41,491
2,471,670
1,502,604
103,755
0
10
3,028
901,469
211,377
263,997
271,323
0
154,773
641,110
411,815
229,295
486,014
486,014
0
0
0
0
1,321,479
748,966
748,966
0
(21,047)
638,755
(659,802)
593,560

1,486,821
61,977
2,407,720
1,421,863
92,770
0
10
2,971
905,477
11,020
379,520
391,473
0
123,464
588,214
359,123
229,092
335,895
335,895
0
0
0
0
1,468,190
1,175,876
1,175,876
0
(275,747)
215,250
(490,997)
568,060
1,771,989
162,158
1,609,831
1,448,441
871,321
577,120
323,547
147,744
84,548
63,196
183,528
30,758
318
137,248
17,516
235,175
0
(46,145)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

165
11,500
251
8,590

(74,978)
21,000
0
0

(481,817)
16,000
0
0

(92,933)
12,750
0
0

1,749,088
204,456
1,544,631
1,500,444
719,181
781,263
248,644
186,941
112,719
74,222
220,371
50,877
30,393
10,631
17,500
0
0
(76,646)

995,164
0
(11,586)
1,082,029

1,203,519
0
(95,978)
1,190,586

633,217
0
(497,817)
481,355

816,997
0
(105,683)
301,618

1,807,492
486,014
(6,869)
897,828

1,804,085
335,895
(115,443)
695,018

0.10
4.75
9.26
0.56
0.75
87.26
4.00
0.01
0.03
0.02
-45.16
1.84

0.05
7.23
4.02
0.72
0.70
89.18
2.24
-2.89
-11.19
-6.82

0.06
8.98
5.02
0.74
0.35
112.49
57.19
-19.44
-107.95
-52.46

0.19
4.59
3.92
0.58
0.60
91.20
8.19
-4.25
-67.39
-12.82

0.75
2.91
15.51
0.71
1.41
85.78
0.85
0.46
1.36
0.81

0.68
1.74
22.09
0.74
1.54
81.74
0.63
5.67
9.84
7.60
0.51
4.67
432.58
7.75
-0.05
1.02
12.49

109,150

146,492

135,021

149,956

65,099

144,314

144,981

58,688

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

105

2.87

6.23

4.51

6.63
1.35
0.61
-0.07
-0.09
17.64

0.01
0.00
-0.47
20.02

-3.76
0.00
-2.83
25.23

-29.83
0.00
-14.69
1.11

-7.27
0.00
-3.12
7.03

Financial Statement Analysis of Non Financial Sector 2010

Nazir Cotton 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

2005

2006

2007

2008

127,437

123,019

103,508

99,951

450,918
111,891
4,482
15,546

450,918
107,473
4,418
15,546

450,918
103,508
3,964
0

450,918
99,951
3,557
0

32,484
1,928
12,124
3,621
1,730
13,081
118,387
16,590
101,797
106,709

38,520
633
15,117
3,645
599
18,526
65,092
11,355
53,737
74,509

29,552
258
1,273
3,090
944
23,987
152,643
10,000
142,643
70,210

29,383
194
1,117
4,792
588
22,692
165,064
10,000
155,064
60,532

106,709
(65,175)
230,000
230,000
0
(295,175)

74,509
21,938
230,000
230,000
0
(208,062)

70,210
(89,793)
230,000
230,000
0
(319,793)

60,532
(96,262)
230,000
230,000
0
(326,262)

179,646
179,646
0
191,011

195,739
195,739
0
207,325

57,346
57,346
0
74,049

166
166
0
156

(11,365)
6,464

(11,586)
9,432

(16,703)
2,356

10
7,119

(Thousand Rupees)
2009
2010
97,871
0
8,701
95,338
3,194
0
0
2,533
25,726
244
1,117
3,248
0
21,117
30,943
19,678
11,265
191,234
191,234
0
0
0
0
(98,580)
230,000
230,000
0
(328,580)
(2,632)
(325,947)
0

91,925
0
8,701
89,542
5,945
0
0
2,383
25,675
184
1,117
3,248
0
21,127
31,408
19,678
11,730
189,190
189,190
0
0
0
0
(102,998)
230,000
230,000
0
(332,998)
(2,633)
(330,364)
0
0
0
0
0
0
0
0
9,241
0
9,241
43
2
0
(4,102)
315
0
0
1,983

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

14,088
785
0
0

12,120
979
0
0

(19,141)
(15,832)
0
0

(6,112)
0
0
0

0
0
0
0
0
0
0
7,967
0
7,967
28
3
0
(2,273)
229
0
0
636

41,534
0
13,303
16,590

96,447
0
11,141
11,355

(19,583)
0
10,000

(35,730)
0
(6,112)
10,000

92,654
191,234
(2,502)
210,912

86,192
189,190
(4,417)
208,868

0.06
0.60
2.02
1.12
0.27
106.33
-3.45
8.54
-20.69
115.35

0.07
0.95
1.86
1.21
0.59
105.92
6.36
7.54
-56.06
17.57

0.03
2.31
5.39
0.43
0.19
129.13
-2.48
-12.99
56.42
-49.80

0.03
2.41
2,886.75
0.00
0.18
93.98
-2.34
-4.66
6.57
22.10

0.11

0.11

0.00
0.83

0.00
0.82

6,464

9,432

2,356

7,119

1,086

1,855

1,323

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

106

-2.25
-1.80
2.33
-7.99

-2.14
-3.40
4.07
-4.59

14.82

12.95

45.05

0.15

0.00

0.00

0.00
-0.11
-4.29

0.01
-0.19
-4.48

7.84
0.00
0.58
-2.83

6.19
0.00
0.48
0.95

-33.38
0.00

-3,681.93
0.00
-0.27
-4.19

-3.90

Financial Statement Analysis of Non Financial Sector 2010

Nishat (Chunian) Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

5,778,294

6,903,335

6,544,227

6,259,570

7,647,290
5,778,294
256,034
0

9,211,220
6,903,335
530,792
0

9,299,224
6,544,227
661,390
0

9,595,457
6,259,570
626,330
0

2,469,289
37,366
1,330,388
335,844
6,150
759,541
2,790,559
2,425,898
364,661
2,780,833

2,561,843
10,940
1,572,827
542,878
0
435,198
3,263,316
2,856,063
407,253
3,413,020

3,211,056
60,671
1,799,902
842,113
0
508,370
4,084,958
2,623,592
1,461,366
2,984,127

4,578,546
18,246
2,447,463
134,338
211,733
1,766,766
5,646,893
3,190,716
2,456,177
2,591,029

2,780,833
2,676,191
683,644
683,644
0
1,992,547

3,413,020
2,788,842
752,008
752,008
0
2,036,834

2,984,127
2,686,198
752,008
752,008
0
1,934,190

2,591,029
2,600,194
752,008
752,008
0
1,848,186

5,497,405
558,369
4,939,036
4,272,199

6,550,782
1,028,097
5,522,685
5,382,250

7,659,281
1,400,879
6,258,402
6,702,072

9,138,298
3,250,732
5,887,566
8,097,418

1,225,206
299,317

1,168,532
367,887

957,209
286,580

1,040,880
315,397

(Thousand Rupees)
2009
2010
15,149,987
9,162,761
1,319
5,981,577
518,566
923
0
4,726
4,659,457
34,179
2,183,104
1,516,729
0
925,446
6,051,867
5,179,786
872,081
10,297,942
10,296,390
0
0
0
1,552
3,459,636
1,240,814
827,209
413,605
2,218,822
361,894
1,856,928
0

24,031,925
18,349,251
1,319
5,669,936
537,714
7,905
0
4,833
10,398,218
1,651,997
3,472,226
3,251,175
131,890
1,890,930
10,755,625
8,445,884
2,309,741
17,721,442
17,721,442
0
0
0
0
5,953,076
1,654,418
1,585,527
68,892
4,298,658
1,540,328
2,758,330
0
13,343,540
3,398,711
9,944,829
10,731,692
7,935,918
2,795,774
2,611,848
636,204
438,361
197,843
910,316
1,101,054
1,037,505
1,053,509
138,552
237,829
0
1,258,027

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

759,944
62,000
55,440
227,881

340,800
90,000
112,801
0

111,157
101,000
11,280
0

76,720
58,000
14,700
0

9,964,545
3,676,118
6,288,427
8,473,362
8,150,919
322,443
1,491,183
416,081
291,799
124,282
721,655
1,081,536
1,026,191
166,800
65,000
0
0
683,851

5,457,024
0
642,504
2,425,898

6,201,862
0
137,999
2,856,063

5,670,325
0
(1,123)
2,623,592

5,191,223
0
4,020
3,190,716

13,757,578
10,296,390
101,800
15,476,175

23,674,518
17,721,442
677,128
26,167,326

0.14
3.42
6.11
0.67
0.88
77.71
2.08
12.06
33.31
17.96
12.59
4.13

0.17
7.54
8.29
0.69
0.79
82.16
2.39
3.85
12.47
5.85
2.22
4.16

0.22
8.46
10.99
0.79
0.79
87.50
2.63
1.16
4.06
1.87
0.90
4.26

0.06
7.72
1.47
0.84
0.81
88.61
3.17
0.75
2.90
1.41
1.27
3.73

0.26
10.85
15.22
0.50
0.77
85.04
4.73
1.09
5.51
1.76

0.47
8.25
24.37
0.39
0.97
80.43
4.78
3.88
22.38
5.63
3.85
3.84
2.02
7.90
0.04
5.77
37.55

299,317

367,887

286,580

315,397

187,899

494,045

648,146

705,281

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

107

13.82
0.00
10.21
39.15

5.20
0.00
3.34
37.09

1.45
0.00
0.14
35.72

0.84
0.00
0.25
34.58

4.56
1.16
1.67
0.04
1.23
41.82

Financial Statement Analysis of Non Financial Sector 2010

Nishat 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

2005

2006

2007

2008

9,152,949

10,611,353

10,586,159

11,470,608

14,500,105
9,151,096
600,252
1,853

16,535,153
10,611,353
797,881
0

16,923,939
10,586,159
975,163
0

18,767,115
11,470,608
1,071,665
0

11,879,897
520,999
3,322,219
877,358
6,286,951
872,370
6,253,333
4,953,084
1,300,249
2,858,155

20,567,973
50,250
3,003,174
1,026,884
15,143,172
1,344,493
7,051,533
5,658,479
1,393,054
3,015,384

28,794,458
69,607
3,106,436
831,653
15,466,506
9,320,256
7,649,373
5,018,664
2,630,709
1,773,820

28,806,681
76,549
4,163,194
1,387,146
21,825,276
1,354,516
12,463,307
10,367,499
2,095,808
1,321,912

2,858,155
11,921,358
1,452,597
1,452,597
0
10,468,761

3,015,384
21,112,409
1,452,597
1,452,597
0
19,659,812

1,773,820
29,957,424
1,597,857
1,597,857
0
28,359,567

1,321,912
26,492,070
1,597,857
1,597,857
0
24,894,213

11,572,168
2,093,532
9,478,636
9,437,269

16,661,434
2,721,641
13,939,793
13,945,702

17,153,262
2,766,129
14,387,133
14,308,324

19,589,804
4,414,325
15,175,479
16,778,058

2,134,899
756,264

2,715,732
1,007,167

2,844,938
1,340,738

2,811,746
1,550,535

(Thousand Rupees)
2009
2010
23,217,848
97,280
19,436,889
11,102,355
1,116,931
0
11,993,998
24,215
8,294,838
111,494
4,092,512
1,300,366
1,414,310
1,376,156
9,602,265
7,775,913
1,826,352
2,579,654
2,334,411
0
0
0
245,243
19,330,767
2,424,827
2,424,827
0
16,905,940
2,627,004
14,278,936
0

34,449,386
365,662
20,681,208
11,476,005
1,099,682
0
22,092,093
515,626
11,732,928
110,585
6,060,441
2,041,256
1,554,543
1,966,103
10,568,415
7,778,079
2,790,336
4,237,586
2,980,694
0
0
0
1,256,892
31,376,313
3,515,999
3,515,999
0
27,860,314
11,150,882
16,709,432
0
31,535,647
7,607,220
23,928,427
25,555,462
7,208,294
18,347,168
5,980,185
2,548,844
1,714,598
834,246
2,631,808
1,126,922
957,399
3,286,069
400,608
879,000
0
988,193

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,671,465
166,000
244,958
0

1,758,866
201,215
217,890
145,260

1,819,170
220,807
217,890
0

6,118,687
261,100
399,464
0

23,870,379
5,236,221
18,634,158
19,518,838
5,919,709
13,599,129
4,351,541
1,942,250
1,315,630
626,620
2,170,493
1,446,796
1,240,197
1,561,501
293,500
484,965
0
2,138,364

14,779,513
0
1,260,507
4,953,084

24,127,793
0
1,339,761
5,658,479

31,731,244
0
1,380,473
5,018,664

27,813,982
0
5,458,123
10,367,499

21,910,421
2,334,411
783,036
10,110,324

35,613,899
2,980,694
2,006,461
10,758,773

1.23
3.52
7.58
0.55
1.90
81.55
0.76
8.53
16.90
13.23
6.15
3.48

2.30
4.53
6.16
0.53
2.92
83.70
0.48
6.74
10.65
9.04
7.15
5.55

2.14
4.78
4.85
0.44
3.76
83.41
0.31
5.16
7.12
6.51
7.34
5.52

1.87
4.85
7.08
0.49
2.31
85.65
0.52
15.36
21.68
20.55
14.66
4.71

0.29
6.06
5.45
0.76
0.86
81.77
0.63
4.35
6.82
6.28
2.61
5.83
2.26
6.54
0.18
5.23
79.72

0.35
3.57
6.47
0.68
1.11
81.04
0.47
8.46
12.96
11.42
3.28
5.20
4.43
10.42
0.07
8.21
89.24

756,264

1,007,167

1,340,738

1,550,535

407,696

755,054

819,267

950,616

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

108

14.44
0.00
10.36
82.07

10.56
0.00
10.72
145.34

10.61
0.00
10.00
187.49

31.23
0.00
36.66
165.80

Financial Statement Analysis of Non Financial Sector 2010

Olympia Spinning & 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

2005

2006

2007

2008

1,280,825

1,453,467

1,477,121

1,680,317

1,650,902
1,280,825
44,448
0

1,881,453
1,453,467
64,581
0

1,959,642
1,477,121
61,212
0

2,218,754
1,680,317
60,080
0

832,476
16,988
528,891
163,626
0
122,971
1,244,643
835,654
408,989
380,147

767,175
6,054
466,309
146,119
0
148,693
1,197,831
781,933
415,898
416,338

777,716
6,921
484,732
134,795
0
151,268
958,044
592,570
365,474
523,380

771,373
2,160
408,813
133,372
44,666
182,362
1,074,409
526,862
547,547
444,497

380,147
488,511
24,000
24,000
0
464,511

416,338
606,473
24,000
24,000
0
582,473

523,380
773,413
120,000
120,000
0
653,413

444,497
932,784
120,000
120,000
0
812,784

1,258,576
678,075
580,501
1,132,535

1,906,971
520,999
1,385,972
1,701,032

2,258,863
638,554
1,620,309
2,046,115

2,773,016
1,365,178
1,407,838
2,552,674

126,041
42,711

205,939
65,735

212,748
79,912

220,342
82,591

(Thousand Rupees)
2009
2010
2,066,254
0
2,105,877
1,999,995
63,543
0
0
66,260
711,327
1,706
415,973
160,448
0
133,200
1,666,160
1,031,007
635,152
343,533
285,621
54,980
0
2,932
0
767,888
120,000
120,000
0
(468,944)
44,666
(513,609)
1,116,832

2,005,034
0
2,112,194
1,951,755
60,250
0
0
53,279
611,697
3,757
203,057
110,579
0
294,304
1,370,909
763,096
607,813
584,410
527,609
53,265
0
3,535
0
661,412
120,000
120,000
0
(565,390)
44,666
(610,056)
1,106,803
2,729,551
726,615
2,002,936
2,590,267
2,180,324
409,943
139,284
80,765
40,123
40,642
164,922
136,692
100,196
(74,223)
27,192
0
0
41,596

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

13,539
8,955
0
0

19,698
20,688
0
0

(21,795)
24,006
0
0

(243)
14,284
0
0

2,352,987
1,076,997
1,275,990
2,569,528
2,024,523
545,005
(216,541)
84,939
51,322
33,617
159,692
172,932
142,449
(470,215)
12,407
0
0
(270,726)

868,658
0
4,584
835,654

1,022,811
0
(990)
781,933

1,296,793
0
(45,801)
592,570

1,377,281
0
(14,527)
526,862

1,111,421
285,621
(482,622)
1,316,628

1,245,822
527,609
(101,415)
1,290,705

0.15
5.66
13.00
0.60
0.67
89.99
3.33
0.69
3.29
1.89

0.13
6.45
7.66
0.86
0.64
89.20
2.66
0.91
3.60
2.08

0.15
7.04
5.97
1.00
0.81
90.58
1.92
-0.97
-3.16
-1.88

0.17
5.11
4.81
1.13
0.72
92.05
1.63
-0.01
-0.03
-0.02

0.10
7.35
6.82
0.85
0.43
109.20
2.62
-17.98
-55.30
-37.79

0.08
5.01
4.05
1.04
0.45
94.90
2.96
-2.75
-10.39
-6.30

42,711

65,735

79,912

82,591

71,216

122,905

159,040

141,572

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

109

2.38

4.09

4.66

6.78

5.66
-2.30
-19.98
-0.13
-40.22
63.99

13.44
0.26
-2.72
0.02
-8.45
55.12

1.08
0.00
1.91
203.55

1.03
0.00
-0.41
252.70

-0.96
0.00
-3.82
64.45

-0.01
0.00
-1.21
77.73

Financial Statement Analysis of Non Financial Sector 2010

Olympia 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

2005

2006

2007

2008

181,346

176,686

181,507

168,666

478,568
181,346
19,020
0

490,991
176,214
18,375
472

515,194
181,507
19,142
0

518,567
168,666
17,380
0

234,675
4,594
153,660
39,264
0
37,157
335,461
155,761
179,700
39,112

170,410
7,094
73,545
16,720
0
73,051
314,101
113,642
200,459
15,703

154,785
6,296
64,518
19,116
0
64,855
138,247
51,759
86,488
195,530

111,220
5,456
12,824
42,137
0
50,803
307,360
13,410
293,950
10,180

39,112
41,448
108,040
108,040
0
(66,592)

15,703
17,292
108,040
108,040
0
(90,748)

195,530
2,515
108,040
108,040
0
(105,525)

10,180
(37,654)
108,040
108,040
0
(145,694)

482,996
482,996
0
451,990

648,153
648,153
0
628,241

668,257
668,257
0
659,234

638,551
638,551
0
652,613

31,006
12,092

19,912
15,155

9,023
15,664

(14,062)
14,366

(Thousand Rupees)
2009
2010
121,448
0
518,567
117,879
14,747
0
0
3,569
53,203
613
5,660
2,918
0
44,012
31,532
9,432
22,100
233,685
0
233,685
0
0
0
(90,566)
108,040
108,040
0
(198,606)
0
(198,606)
0

89,285
0
462,687
87,294
8,411
0
0
1,991
46,010
564
0
2,918
0
42,528
12,443
0
12,443
234,158
0
234,158
0
0
0
(111,306)
108,040
108,040
0
(219,346)
0
(219,346)
0
5,660
5,660
0
15,699
5,660
10,039
(10,039)
10,157
0
10,157
1,773
870
196
(20,740)
0
0
0
(14,956)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

8,977
2,415
0
0

(9,189)
3,231
0
0

(21,165)
(3,338)
0
0

(34,115)
3,194
0
0

245,373
245,373
0
280,812
212,252
68,560
(35,440)
12,074
106
11,968
17,017
6,801
4,851
(54,124)
0
0
0
(72,679)

80,560
0
6,562
155,761

32,995
0
(12,420)
113,642

198,045
0

(27,474)
0
(37,309)
13,410

143,119
0
(54,124)
9,432

122,852
0
(20,740)
0

0.13
2.11
8.13
1.16
0.70
93.58
9.04
2.38
23.40
11.80

0.08
2.21
2.58
1.87
0.54
96.93
19.07
-2.41
-31.29
-16.18

0.18
2.18
2.86
1.99
1.12
98.65
132.71
-6.19
-213.71
-18.32

0.15
0.95
6.60
2.28
0.36
102.20
-8.43
-11.07
194.17
-40.00

0.11
2.77
1.19
1.40
1.69
114.44
-2.93
-23.82
84.42
-93.60

0.28
15.36
51.55
0.04
3.70
277.36
-2.22
-13.38
20.55
-15.60

12,092

15,155

15,664

14,366

10,185

14,299

14,567

6,035

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

51,759

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

110

3.14

8.81

10.36

49.79

43.35
-10.16
-22.06
-0.27
-5.01
-8.38

1.86
0.00
0.61
3.84

-1.42
0.00
-1.15
1.60

-3.17
0.00

-5.34
0.00
-3.45
-3.49

0.23

-104.82
-366.43
-0.06
-1.92
-10.30

Financial Statement Analysis of Non Financial Sector 2010

Paramount 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

2005

2006

2007

2008

811,984

808,483

772,516

781,892

1,155,260
811,984
41,801
0

1,260,874
808,483
71,877
0

1,300,486
772,516
71,390
0

1,336,127
781,892
43,345
0

907,898
57,738
462,349
177,265
80,999
129,547
716,617
605,990
110,627
575,800

1,442,113
38,445
523,765
190,081
519,589
170,233
933,039
804,718
128,321
423,294

1,658,935
48,892
702,442
258,659
421,377
227,565
1,487,105
937,445
549,660
216,964

2,080,182
74,635
1,192,148
237,834
420,819
154,746
1,875,410
1,158,306
717,104
233,509

283,702

180,599

292,098
427,465
105,000
105,000
0
322,465

242,695
894,263
110,250
110,250
0
784,013

216,964
727,382
121,275
121,275
0
606,107

233,509
753,155
133,403
133,403
0
619,752

1,110,559
573,445
537,114
976,869

1,658,730
569,890
1,088,840
1,388,523

1,852,295
500,211
1,352,084
1,548,157

2,549,115
1,091,634
1,457,481
2,195,240

133,690
36,867

270,207
102,331

304,138
120,381

353,875
136,110

(Thousand Rupees)
2009
2010
1,203,979
945
1,384,620
759,398
43,048
0
436,488
7,149
1,746,719
60,141
1,259,506
274,452
2,145
150,475
1,810,199
1,484,039
326,160
352,496
108,650
175,000
0
30,592
38,254
788,003
143,408
143,408
0
574,425
15,400
559,025
70,171

1,218,437
3,266
1,423,359
760,143
42,279
0
448,247
6,781
1,966,189
61,649
1,329,317
353,170
0
222,052
1,948,177
1,533,409
414,768
340,409
85,058
175,000
0
38,869
41,482
896,040
157,748
157,748
0
668,121
15,400
652,721
70,171
3,117,790
948,225
2,169,564
2,569,057
1,942,153
626,904
548,733
175,745
106,968
68,777
318,184
250,718
242,963
125,992
25,729
15,775
15,775
17,331
1,236,449
85,058
84,488
1,618,467

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

30,172
6,235
10,500
0

42,537
15,046
0
5,250

30,600
18,950
0
0

73,880
14,586
0
12,127

2,811,466
1,061,497
1,749,969
2,363,110
1,578,134
784,976
448,357
167,744
104,537
63,207
276,399
264,120
257,296
35,371
17,429
0
14,341
(80,270)

1,003,265
283,702
13,437
889,692

1,317,557
180,599
27,491
985,317

944,346
0
11,650
937,445

986,664
0
59,294
1,158,306

1,140,499
108,650
17,942
1,592,689

0.44
6.29
15.96
0.65
1.27
87.96
3.02
1.98
7.94
3.27
2.28
2.40

0.80
7.68
11.46
0.74
1.55
83.71
1.52
2.14
6.44
3.67

0.49
8.57
13.96
0.76
1.12
83.58
2.34
1.31
3.77
2.71

0.39
7.14
9.33
0.89
1.11
86.12
2.80
2.79
9.98
7.65

0.19
9.39
9.76
0.95
0.96
84.05
2.74
1.22
4.59
3.33

36,867

102,331

120,381

136,110

69,848

127,399

158,794

181,908

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

111

3.17

2.64

2.14

2.23
1.14
1.26
-0.04
1.25
54.95

2.72
0.00
2.28
40.71

2.56
0.00
2.49
81.11

1.65
0.00
0.96
59.98

2.90
0.00
4.44
56.46

0.21
8.04
11.33
0.98
1.01
82.40
2.55
4.11
14.96
10.60
6.36
2.35
1.52
4.04
0.01
6.36
56.80

Financial Statement Analysis of Non Financial Sector 2010

Premium 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

2005

2006

2007

2008

593,113

623,028

643,434

637,081

819,724
593,113
36,438
0

932,106
623,028
62,043
0

942,079
643,434
65,355
0

1,028,793
637,081
64,877
0

1,006,887
1,387
609,184
339,220
0
57,096
1,085,059
976,718
108,341
226,413

610,111
1,108
315,772
227,682
0
65,549
770,191
622,538
147,653
238,798

609,382
2,457
238,924
299,225
0
68,776
815,381
582,335
233,046
218,772

911,145
2,806
347,564
481,520
0
79,255
1,039,662
825,585
214,077
284,450

226,413
288,528
61,630
61,630
0
226,898

238,798
224,150
61,630
61,630
0
162,520

218,772
218,663
61,630
61,630
0
157,033

284,450
224,114
61,630
61,630
0
162,484

996,044
971,548
24,496
875,516

1,471,173
1,471,173
0
1,279,157

1,499,671
1,484,635
15,036
1,347,870

1,923,939
1,897,361
26,578
1,727,232

120,528
24,948

192,016
35,740

151,801
34,973

196,707
39,839

(Thousand Rupees)
2009
2010
587,528
0
1,074,008
586,675
61,537
0
0
853
821,259
2,220
323,290
444,457
0
51,292
856,671
764,765
91,906
331,320
248,184
40,000
0
4,689
38,447
220,795
61,630
61,630
0
145,222
0
145,222
13,944

572,824
0
1,107,677
571,982
60,481
0
0
843
907,565
5,898
303,337
528,177
0
70,153
847,658
672,269
175,389
224,928
105,000
40,000
0
6,368
73,561
407,802
61,630
61,630
0
333,759
0
333,759
12,413
3,209,472
3,042,192
167,280
2,706,750
1,988
2,704,763
502,722
79,495
27,000
52,495
159,865
162,474
151,900
265,668
38,692
30,815
0
473,795

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

37,696
4,428
6,163
0

36,206
7,312
9,245
0

15,061
7,419
12,326
0

22,913
9,987
6,163
0

2,113,500
2,093,782
19,718
1,899,248
1,560,082
339,166
214,252
41,100
16,401
24,699
140,150
172,330
166,055
2,276
336
4,622
0
321,066

514,941
0
27,105
976,718

462,948
0
19,649
622,538

437,435
0
(4,684)
582,335

508,564
0
6,763
825,585

552,116
248,184
(2,683)
1,012,949

632,731
105,000
196,161
777,269

0.31
6.00
34.06
0.62
0.93
87.90
4.55
2.77
16.44
8.70
5.40
1.64

0.30
8.10
15.48
1.19
0.79
86.95
4.50
2.56
14.12
7.40
3.13
4.66

0.37
6.84
19.95
1.20
0.75
89.88
4.73
1.21
6.80
3.35
0.62
6.28

0.47
6.64
25.03
1.24
0.88
89.78
5.91
1.64
10.35
4.84
2.10
5.54

0.52
8.15
21.03
1.50
0.96
89.86
5.38
0.15
1.02
0.43
0.42
6.54
1.01
0.11
0.27
0.31
35.83

0.63
5.06
16.46
2.17
1.07
84.34
2.63
18.39
84.53
44.84
7.37
10.58
2.75
8.28
0.44
36.83
66.17

24,948

35,740

34,973

39,839

59,757

119,182

102,532

127,659

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

112

3.78
0.00
5.40
46.82

2.46
0.00
4.69
36.37

1.00
0.00
1.24
35.48

1.19
0.00
2.10
36.36

Financial Statement Analysis of Non Financial Sector 2010

Prosperity 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

2005

2006

2007

2008

994,881

998,225

1,053,786

1,021,502

1,523,849
994,881
42,596
0

1,628,874
998,225
102,253
0

1,788,209
1,053,786
103,785
0

1,859,778
1,021,502
106,898
0

497,485
53,447
190,707
136,447
7,000
109,884
519,480
429,074
90,406
635,556

424,681
2,612
170,338
126,080
0
125,651
501,697
317,278
184,419
527,200

519,031
43,748
264,956
131,417
0
78,910
594,250
238,782
355,468
579,863

535,777
8,998
296,829
145,830
0
84,120
468,313
96,555
371,758
754,703

635,556
337,330
168,000
168,000
0
169,330

527,200
394,009
168,000
168,000
0
226,009

579,863
398,704
184,800
184,800
0
213,904

754,703
334,263
184,800
184,800
0
149,463

1,798,540
828,826
969,714
1,681,526

2,699,412
2,699,412
0
2,497,608

2,702,593
1,127,461
1,575,132
2,542,748

2,737,590
1,379,104
1,358,486
2,602,563

117,014
48,227

201,804
58,509

159,845
55,743

135,027
97,900

(Thousand Rupees)
2009
2010
925,767
0
1,859,395
925,210
98,762
0
0
557
622,035
6,335
154,236
159,256
0
302,207
387,065
197,242
189,823
749,097
645,345
90,000
0
4,441
9,312
411,639
184,800
184,800
0
189,656
16,600
173,056
37,183

844,624
0
1,863,250
844,400
90,027
0
0
225
669,145
80,171
409,863
103,188
0
75,923
501,819
294,786
207,033
509,950
382,623
90,000
0
4,220
33,108
502,000
184,800
184,800
0
280,017
16,600
263,417
37,183
4,070,195
2,383,983
1,686,212
3,670,926
2,949,006
721,920
399,270
123,004
71,340
51,664
164,989
116,550
106,782
176,389
25,271
55,440
0
47,517

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

22,016
9,946
25,200
0

49,319
17,236
0
16,800

14,854
19,427
0
0

(54,021)
13,876
0
0

3,634,559
1,063,804
2,570,755
3,265,698
2,336,774
928,924
368,861
132,758
86,163
46,595
150,713
134,405
124,806
108,119
18,866
36,960
0
389,925

972,886
0
(13,130)
429,074

921,209
0
32,083
317,278

978,567
0
(4,573)
238,782

1,088,966
0
(67,897)
96,555

1,160,736
645,345
52,294
842,587

1,011,950
382,623
95,677
677,409

0.38
2.61
7.59
1.21
0.96
93.49
3.42
1.50
6.44
2.31
0.48
9.43

0.26
3.59
4.67
1.90
0.85
92.52
2.61
3.38
13.49
5.21

0.29
3.47
4.86
1.72
0.87
94.09
2.94
0.99
3.75
1.56

0.33
3.58
5.33
1.76
1.14
95.07
3.66
-3.45
-14.74
-5.23

0.43
3.70
4.38
2.35
1.61
89.85
2.76
6.96
28.99
9.61
2.41
23.56
1.87
2.97
0.34
4.83
22.27

0.37
2.86
2.54
2.69
1.33
90.19
2.02
11.52
38.61
16.24
2.73
9.93
2.65
4.33
0.05
8.18
27.16

48,227

58,509

55,743

97,900

46,908

96,788

93,654

97,926

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

113

15.85

10.20

9.22

1.22
0.00
0.72
20.08

1.83
0.00
1.91
23.45

0.55
0.00
-0.25
21.57

-1.97
0.00
-3.67
18.09

Financial Statement Analysis of Non Financial Sector 2010

Quality 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

2005

2006

2007

2008

456,563

583,253

543,183

507,940

697,834
456,563
26,332
0

860,184
583,253
35,437
0

864,087
543,183
45,554
0

868,069
507,940
41,927
0

268,787
1,798
184,332
60,387
0
22,270
276,584
216,774
59,810
91,623

352,999
1,645
224,700
77,630
0
49,024
476,596
371,517
105,079
59,793

307,112
617
179,730
74,522
0
52,243
368,305
260,876
107,429
90,915

390,466
1,005
228,413
103,604
0
57,444
394,030
293,851
100,179
115,619

91,623
357,143
159,778
159,778
0
197,365

59,793
399,863
159,778
159,778
0
240,085

90,915
391,075
159,778
159,778
0
231,297

115,619
388,757
159,778
159,778
0
228,979

761,596
624,001
137,595
665,100

888,448
888,448
0
788,971

953,928
686,238
267,690
866,538

1,032,951
853,269
179,682
937,957

96,496
19,226

99,477
22,448

87,390
21,983

94,994
20,587

(Thousand Rupees)
2009
2010
555,658
6,815
948,451
546,678
42,950
0
0
2,165
389,422
1,920
180,477
178,363
0
28,663
385,648
340,254
45,395
172,682
35,400
0
0
67,220
70,062
386,750
159,778
159,778
0
82,585
0
82,585
144,387

600,393
0
1,031,834
598,228
43,458
0
0
2,165
378,775
1,148
175,931
155,567
0
46,129
359,382
210,693
148,689
102,006
11,800
0
0
82,804
7,402
517,780
159,778
159,778
0
165,107
0
165,107
192,896
1,584,088
1,048,737
535,351
1,335,517
1,082,662
252,855
248,571
66,479
29,779
36,701
91,845
65,933
61,119
116,712
25,834
23,967
0
175,450

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

51,067
4,473
0
0

32,454
5,741
15,978
0

14,497
4,770
0
0

21,545
5,214
0
0

1,220,867
932,960
287,907
1,106,377
835,613
270,764
114,490
34,783
18,310
16,473
67,476
70,020
67,441
10,878
2,349
0
0
29,787

448,766
0
46,594
216,774

459,656
0
10,735
371,517

481,990
0
9,727
260,876

504,376
0
16,331
293,851

559,432
35,400
8,529
375,654

619,786
11,800
66,912
222,493

0.22
3.57
7.93
1.05
0.97
87.33
1.03
7.96
17.95
13.22

0.17
5.16
8.74
0.95
0.74
88.80
1.34
3.91
8.57
7.15
1.67
3.95

0.20
5.49
7.81
1.12
0.83
90.84
1.17
1.62
3.67
3.08

0.27
5.43
10.03
1.15
0.99
90.80
1.31
2.46
5.53
4.37

0.47
5.74
14.61
1.29
1.01
90.62
1.44
1.18
2.81
2.05

0.44
4.16
9.82
1.62
1.05
84.31
0.89
12.13
25.81
19.79
3.79
9.00
2.91
7.37
0.38
5.69
32.41

19,226

22,448

21,983

20,587

27,196

45,817

52,336

56,054

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.13

114

5.31

4.52

6.76
1.16
0.89
0.05
0.53
24.21

6.71
0.00
2.92
22.35

3.65
0.00
1.67
25.03

1.52
0.00
0.61
24.48

2.09
0.00
1.02
24.33

Financial Statement Analysis of Non Financial Sector 2010

Quetta 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

2005

2006

2007

2008

2,475,189

3,069,764

3,432,131

4,119,622

3,802,860
2,475,189
130,519
0

4,645,219
3,069,764
248,104
0

5,066,776
3,432,131
151,472
0

6,184,240
4,119,622
178,496
0

1,914,589
9,301
1,109,023
220,787
57,362
518,116
2,317,214
1,651,442
665,772
1,422,649

2,107,806
6,724
1,210,439
356,123
83,393
451,127
2,887,080
2,179,153
707,927
1,589,721

2,229,078
5,733
1,103,997
376,336
2,011
741,001
2,810,376
1,387,288
1,423,088
2,118,140

3,393,615
2,855
2,074,552
555,620
132,289
628,299
4,647,636
2,735,891
1,911,745
2,451,698

1,422,649
649,915
31,250
31,250
0
618,665

1,589,721
700,769
31,250
31,250
0
669,519

2,118,140
732,693
31,250
31,250
0
701,443

2,451,698
413,903
31,250
31,250
0
382,653

2,859,845
757,185
2,102,660
2,608,020

4,735,926
2,130,602
2,605,324
4,339,925

5,093,317
2,467,367
2,625,950
4,592,903

6,015,548
2,696,619
3,318,929
5,421,705

251,825
36,595

396,001
27,117

500,414
32,508

593,843
64,002

(Thousand Rupees)
2009
2010
5,054,660
117,383
7,294,131
4,871,288
211,072
0
48,486
17,504
3,857,386
3,113
2,229,194
886,019
0
739,060
4,408,999
4,107,244
301,754
3,226,916
2,123,703
773,162
0
59,491
270,561
1,276,131
31,250
31,250
0
458,943
0
458,943
785,938

4,955,743
136,121
7,431,304
4,775,130
233,820
0
26,988
17,504
3,552,358
3,219
2,269,204
524,062
0
755,874
4,069,031
3,684,405
384,626
2,138,781
1,743,355
23,900
0
67,762
303,764
2,300,289
130,000
130,000
0
1,406,725
651,750
754,975
763,564

7,514,899
3,629,194
3,885,705
6,177,193
4,307,017
1,870,177
1,337,706
462,119
314,175
147,944
531,160
830,513
822,916
98,968
37,317
0
0
(400,422)

9,334,112
4,622,449
4,711,662
7,626,141
5,515,387
2,110,754
1,707,971
392,674
286,765
105,909
619,024
962,309
955,825
375,592
75,307
26,000
0
833,903

4,503,047
2,123,703
61,651
6,230,947

4,439,070
1,743,355
274,285
5,427,760

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

36,595

27,117

32,508

64,002

137,148

292,627

348,829

495,258

113,702
25,465
0
0

91,291
38,657
4,688
0

144,333
37,345
4,687
0

46,556
33,307
0
0

2,072,564
0
88,237
1,651,442

2,290,490
0
47,946
2,179,153

2,850,833
0
102,301
1,387,288

2,865,601
0
13,249
2,735,891

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.12
4.80
7.72
0.65
0.83
91.19
5.75
3.01
20.89
6.70

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

115

0.15
6.18
7.52
0.91
0.73
91.64
6.39
1.91
13.52
4.18
11.23
3.91

0.14
6.85
7.39
0.90
0.79
90.18
6.73
2.66
20.14
5.61
22.83
4.61

0.15
8.23
9.24
0.80
0.73
90.13
17.15
0.71
8.12
1.63

0.20
11.05
11.79
0.84
0.87
82.20
5.98
1.21
11.71
2.69

2.90

3.37
1.12
1.32
-0.05
19.73
408.36

3.98
0.00
28.24
207.97

1.93
0.00
16.84
224.25

2.83
0.00
34.24
234.46

0.77
0.00
4.24
132.45

0.13
10.31
5.61
1.10
0.87
81.70
2.70
4.31
21.00
8.40
11.55
4.11
1.39
4.02
0.13
23.10
176.95

Financial Statement Analysis of Non Financial Sector 2010

Ravi 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

2005

2006

2007

2008

274,685

262,273

187,802

326,452

372,125
274,685
7,885
0

293,300
262,273
13,715
0

262,273
187,802
13,774
0

336,927
326,452
12,128
0

111,285
109
89,688
1,878
0
19,610
137,538
83,244
54,294
60,602

127,117
411
78,587
3,049
0
45,070
211,208
94,315
116,893
32,031

13,425
167
604
133
0
12,521
142,237
17,956
124,281
54,552

56,427
3,904
23,920
3,632
0
24,971
207,378
0
207,378
32,334

60,602
187,830
70,380
70,380
0
117,450

32,031
146,151
70,380
70,380
0
75,771

54,552
4,438
70,380
70,380
0
(65,942)

32,334
143,167
70,380
70,380
0
72,787

361,158
361,158
0
361,086

448,248
448,248
0
443,408

282,733
282,733
0
301,396

12,615
12,615
0
27,188

72
10,999

4,840
17,128

(18,663)
36,873

(14,573)
10,945

(Thousand Rupees)
2009
2010
301,994
1,329
347,737
300,422
17,535
0
0
243
135,028
2,059
51,211
7,871
0
73,888
134,431
87,705
46,726
62,459
0
26,155
0
2,840
33,464
240,133
250,000
250,000
0
(174,866)
0
(174,866)
164,999

286,530
64
352,455
286,223
18,924
0
0
243
117,893
446
40,202
57,170
0
20,076
142,467
80,148
62,319
57,526
0
26,155
0
2,080
29,291
204,430
250,000
250,000
0
(205,957)
0
(205,957)
160,387
432,368
429,309
3,059
452,614
287,911
164,703
(20,246)
13,521
1,908
11,613
46,065
12,644
12,182
(36,080)
6,129
0
0
(220)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(17,356)
1,592
0
0

(29,844)
2,245
0
0

(63,844)
1,416
0
0

4,561
63
0
0

316,778
316,778
0
347,095
239,347
107,748
(30,317)
11,180
954
10,226
40,276
12,511
12,051
243
0
0
0
179,045

248,432
0
(18,948)
83,244

178,182
0
(32,089)
94,315

58,990
0
(65,260)
17,956

175,501
0
4,498
0

302,591
0
243
87,705

261,956
0
(42,209)
80,148

0.01
2.17
0.52
0.94
0.81
99.98
1.05
-5.77
-15.96
-10.05

0.02
4.08
0.68
1.15
0.60
98.92
1.66
-7.70
-17.87
-13.99

0.00
3.25
0.05
1.41
0.09
106.60
44.34
-21.62
-84.79
-53.84

0.04
16.00
28.79
0.03
0.27
215.52
1.67
1.56
6.18
3.89

0.07
3.95
2.48
0.72
1.00
109.57
0.82
0.06
0.13
0.10

0.40
2.92
13.22
1.07
0.83
104.68
0.98
-8.58
-16.23
-12.78

10,999

17,128

36,873

10,945

7,820

18,302

9,176

2,019

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

116

4.03

5.70

468.10

0.53

6.19
1.02
0.08
0.91
0.01
9.61

10.75
-1.96
-8.34
0.00
-1.69
8.18

-4.81
0.00
-2.69
26.69

-6.66
0.00
-4.56
20.77

-22.58
0.00
-9.27
0.63

36.16
0.00

Financial Statement Analysis of Non Financial Sector 2010

Redco 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

2005

2006

2007

2008

925,141

925,141

974,084

899,641

1,241,771
925,141
35,128
0

1,241,771
925,141
35,128
0

1,557,186
974,084
40,911
0

1,232,636
899,641
45,499
0

319,187
188
164,113
84,779
0
70,107
322,332
155,430
166,902
71,236

319,187
188
164,113
84,779
0
70,107
322,332
155,430
166,902
71,236

416,353
744
186,794
88,052
55
140,708
743,885
42,231
701,654
114,333

533,124
22,630
209,422
130,668
2,803
167,601
816,618
75,989
740,629
73,979

71,236
850,760
212,926
212,926
0
637,834

71,236
850,760
212,926
212,926
0
637,834

114,333
532,219
212,926
212,926
0
319,293

73,979
542,168
492,926
492,926
0
49,242

493,803
384,807
108,996
443,323

493,803
384,807
108,996
443,323

742,453
627,193
115,260
675,224

1,036,276
961,719
74,557
1,029,488

50,480
12,582

50,480
12,582

67,229
25,358

6,788
21,220

(Thousand Rupees)
2009
2010
900,558
0
1,286,050
896,020
44,506
0
39
4,500
537,277
3,323
204,131
190,191
0
139,633
278,243
113,226
165,017
624,239
3,244
576,714
0
5,736
38,546
535,354
492,926
492,926
0
(167,573)
(8)
(167,565)
210,001

874,853
0
1,303,395
869,167
44,552
0
71
5,615
478,770
4,254
210,643
150,353
0
113,521
197,882
82,272
115,610
613,205
0
579,181
0
5,006
29,018
542,536
492,926
492,926
0
(153,817)
16
(153,833)
203,427
1,469,940
1,460,538
9,402
1,410,333
1,096,390
313,943
59,607
36,139
4,097
32,043
112,041
18,920
10,086
5,048
7,417
0
0
51,563

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

47,995
2,315
0
0

47,995
2,315
0
0

471
3,128
0
0

(43,627)
4,777
0
0

1,035,884
999,307
36,577
994,356
735,408
258,949
41,528
16,838
4,334
12,504
85,564
26,914
11,328
(1,953)
366
0
0
(2,821)

921,996
0
45,680
155,430

921,996
0
45,680
155,430

646,552
0
(2,657)
42,231

616,147
0
(48,404)
75,989

1,159,592
3,244
(2,319)
116,470

1,155,741
0
(2,369)
82,272

0.26
2.01
17.17
0.40
0.99
89.78
0.46
3.80
7.05
6.13

0.26
2.01
17.17
0.40
0.99
89.78
0.46
3.86
5.64
5.21

0.12
4.82
11.86
0.53
0.56
90.95
1.61
0.04
0.07
0.06

0.19
2.83
12.61
0.72
0.65
99.34
1.64
-3.09
-8.12
-6.91

0.70
2.60
18.36
0.72
1.93
95.99
1.69
-0.14
-0.36
-0.22

0.78
1.29
10.23
1.09
2.42
95.94
1.49
0.36
0.94
0.44

12,582

12,582

25,358

21,220

9,911

9,911

35,778

29,310

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

117

3.01

3.01

3.97

4.95

5.07
0.83
-0.19
0.00
-0.05
10.86

6.98
1.50
0.34
0.06
-0.05
11.01

9.72
0.00
2.15
39.96

9.72
0.00
2.15
39.96

0.06
0.00
-0.12
25.00

-4.21
0.00
-0.98
11.00

Financial Statement Analysis of Non Financial Sector 2010

Regent Textile 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

2005

2006

2007

2008

147,886

165,331

177,421

169,545

303,231
147,886
4,789
0

329,389
165,331
8,712
0

350,229
177,421
8,869
0

346,297
169,545
9,076
0

57,477
440
19,203
27,694
0
10,140
45,496
0
45,496
7,715

68,150
1,257
17,749
3,192
0
45,952
198,231
6,304
191,927
16,792

85,436
1,681
30,238
3,424
4,554
45,539
213,962
31,278
182,684
15,718

98,682
3,002
27,432
27,712
5,184
35,352
222,908
53,185
169,723
11,649

7,715
152,152
47,587
47,587
0
104,565

16,792
18,458
47,587
47,587
0
(29,129)

15,718
33,177
47,587
47,587
0
(14,410)

11,649
33,670
47,587
47,587
0
(13,917)

71,690
71,690
0
66,013

202,184
202,184
0
181,733

233,537
233,537
0
216,572

281,436
281,436
0
265,117

5,677
1,422

20,451
2,493

16,965
2,617

16,319
3,395

(Thousand Rupees)
2009
2010
178,231
78
347,358
162,282
8,324
0
5,910
9,961
56,662
486
3,398
23,481
0
29,297
53,007
19,734
33,274
166,416
11,416
155,000
0
0
0
15,470
47,587
47,587
0
(119,366)
908
(120,274)
87,250

169,531
3,802
348,083
155,475
7,532
0
6,818
3,436
85,891
6,897
16,116
26,772
0
36,106
64,139
17,053
47,086
160,878
5,878
155,000
0
0
0
30,405
47,587
47,587
0
(104,348)
908
(105,256)
87,167
325,217
325,217
0
292,203
191,843
100,360
33,014
5,244
62
5,182
37,299
6,256
6,100
23,142
1,690
0
0
(6,155)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

4,730
337
0
0

16,317
1,011
2,379
0

13,059
1,168
0
0

3,477
1,407
0
0

274,758
274,758
0
283,098
175,793
107,305
(8,340)
3,464
132
3,332
33,448
10,667
10,331
(21,011)
52
0
0
(12,569)

159,867
0
4,393
0

35,250
0
12,927
6,304

48,895
0
11,891
31,278

45,319
0
2,070
53,185

181,886
11,416
(21,063)
31,150

191,283
5,878
21,452
22,931

0.62
0.42
38.63
0.35
1.26
92.08
0.35
2.42
6.27
5.83

0.02
1.32
1.58
0.87
0.34
89.88
11.65
7.44
19.13
16.73
6.43
11.39

0.16
3.84
9.85
1.05
0.44
94.20
6.97
1.31
10.40
7.38

0.45
3.88
8.55
1.17
1.07
103.04
14.18
-8.35
-85.52
-18.50

0.52
1.92
8.23
1.27
1.34
89.85
7.40
9.44
100.89
12.40

1,422

2,493

2,617

3,395

301

2,676

2,897

10,797

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.73

118

0.05
1.24
1.47
0.89
0.40
92.74
6.92
5.26
50.58
31.04

7.72

10.26

80.86
-1.03
-7.65
-0.06
-4.43
3.25

20.18
4.79
7.12
-0.03
4.51
6.39

6.60
0.00
0.92
31.97

8.07
0.00
3.22
3.88

5.59
0.00
2.50
6.97

1.24
0.00
0.43
7.08

Financial Statement Analysis of Non Financial Sector 2010

Reliance Cotton 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

2005

2006

2007

2008

464,715

521,868

495,141

495,141

785,984
464,715
29,414
0

908,910
521,868
49,213
0

924,711
495,141
50,340
0

924,711
495,141
50,340
0

629,362
9,584
314,814
224,604
0
80,360
601,293
520,575
80,718
100,000

534,445
3,741
303,659
173,231
0
53,814
501,796
424,498
77,298
160,000

559,000
7,029
314,634
198,365
0
38,972
525,354
372,990
152,364
80,000

559,000
7,029
314,634
198,365
0
38,972
525,354
372,990
152,364
80,000

100,000
392,784
102,920
102,920
0
289,864

160,000
394,517
102,920
102,920
0
291,597

80,000
448,787
102,920
102,920
0
345,867

80,000
448,787
102,920
102,920
0
345,867

777,432
181,141
596,291
677,385

1,154,772
205,792
948,980
1,043,168

1,341,136
245,353
1,095,783
1,182,383

1,341,136
245,353
1,095,783
1,182,383

100,047
11,879

111,604
15,924

158,753
20,501

158,753
20,501

(Thousand Rupees)
2009
2010
591,540
0
999,990
470,702
46,298
0
117,829
3,008
903,572
8,846
594,491
240,620
0
59,614
833,363
710,563
122,800
26,338
0
0
0
19,702
6,636
635,409
102,920
102,920
0
532,489
0
532,489
0

786,002
0
1,162,437
589,377
45,990
0
192,573
4,052
955,222
3,115
728,213
142,487
0
81,407
841,600
690,812
150,788
112,815
75,000
0
0
24,406
13,409
786,809
102,920
102,920
0
683,889
0
683,889
0
1,753,876
239,289
1,514,588
1,358,895
971,220
387,675
394,982
159,357
105,373
53,984
143,217
114,194
105,823
162,561
18,312
20,584
0
114,704

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

59,453
7,342
12,865
0

36,182
9,601
10,292
0

75,210
16,366
10,292
0

75,210
16,366
10,292
0

1,544,923
306,469
1,238,453
1,232,407
882,067
350,340
312,516
114,620
84,823
29,796
118,107
109,112
101,293
164,966
15,080
15,438
0
(29,498)

492,784
0
39,246
520,575

554,517
0
16,289
424,498

528,787
0
48,552
372,990

528,787
0
48,552
372,990

661,747
0
134,449
710,563

899,624
75,000
123,665
765,812

0.39
3.83
28.89
0.71
1.05
87.13
1.79
6.32
15.99
12.60
4.05
2.47

0.35
5.68
15.00
1.09
1.07
90.34
1.68
3.37
9.19
6.91
2.58
3.80

0.39
4.87
14.79
1.27
1.06
88.16
1.35
7.13
17.84
13.89
5.72
4.26

0.39
4.87
14.79
1.27
1.06
88.16
1.35
7.13
16.76
14.22
5.72
4.26

0.30
7.06
15.57
1.03
1.08
79.77
1.35
12.94
30.43
27.71
9.71
2.60
2.63
10.68
-0.03
14.56
61.74

0.17
6.51
8.12
1.01
1.14
77.48
1.21
10.05
22.86
20.82
7.01
2.41
2.54
9.27
0.12
14.02
76.45

11,879

15,924

20,501

20,501

29,768

65,590

65,306

65,306

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

119

7.65
0.00
5.06
38.16

3.13
0.00
2.58
38.33

5.61
0.00
5.72
43.61

5.61
0.00
5.72
43.61

Financial Statement Analysis of Non Financial Sector 2010

Reliance 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

2005

2006

2007

2008

2,036,093

1,963,229

1,818,923

1,808,375

2,726,044
2,036,093
88,233
0

2,808,667
1,963,229
188,289
0

2,862,630
1,817,889
2,427
1,034

2,932,449
1,807,456
174,510
919

1,356,670
8,314
787,040
204,540
0
356,776
1,610,131
1,333,206
276,925
1,026,041

1,382,110
32,572
746,644
229,707
70,523
302,664
1,984,785
1,298,483
686,302
523,483

1,611,087
41,794
772,398
157,754
70,000
569,141
1,613,761
1,336,647
277,114
937,333

2,311,575
75,672
1,343,145
334,841
0
557,917
2,778,101
2,261,986
516,115
573,426

42,857

983,184
756,591
246,488
246,488
0
510,103

523,483
837,071
246,488
246,488
0
590,583

937,333
878,916
308,109
308,109
0
570,807

573,426
768,423
308,109
308,109
0
460,314

2,077,673
764,447
1,313,226
1,819,758

3,150,580
1,367,616
1,782,964
2,728,014

3,400,998
1,070,227
2,330,771
3,054,594

3,509,591
867,196
2,642,395
3,193,822

257,915
73,297

422,566
97,038

346,404
106,002

315,769
145,699

(Thousand Rupees)
2009
2010
2,320,703
11,915
3,576,660
2,272,586
87,061
804
0
35,398
1,806,018
18,233
1,124,587
198,108
179,681
285,408
2,290,148
2,020,191
269,957
792,918
645,980
137,000
0
9,938
0
1,043,655
308,109
308,109
0
283,275
41,081
242,193
452,271

2,353,261
12,220
3,709,060
2,322,905
92,531
689
0
17,448
1,928,688
36,074
962,681
365,827
225,924
338,182
2,326,607
2,003,537
323,070
465,905
415,179
37,000
0
13,726
0
1,489,438
308,109
308,109
0
729,058
83,712
645,346
452,271
6,773,392
2,103,857
4,669,534
5,610,015
4,423,531
1,186,484
1,163,377
235,324
112,388
122,936
316,320
449,962
406,206
478,708
46,695
15,405
0
496,680

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

111,766
10,500
20,541
41,081

143,962
17,871
0
61,622

47,365
15,447
0
0

(80,842)
26,415
0
0

4,337,455
1,153,975
3,183,480
3,665,167
2,880,206
784,961
672,288
215,539
66,544
148,995
267,624
646,855
455,545
(174,387)
31,835
0
0
321,749

1,782,632
42,857
80,725
1,376,063

1,360,554
0
126,091
1,298,483

1,816,249
0
31,918
1,336,647

1,341,849
0
(107,257)
2,261,986

1,836,573
645,980
(206,222)
2,666,170

1,955,343
415,179
416,608
2,418,716

0.15
10.49
9.54
0.85
0.83
91.00
4.36
-2.14
-9.81
-5.12

0.17
14.91
4.57
1.05
0.79
84.50
2.95
-4.23
-19.25
-10.97

0.27
6.64
5.40
1.58
0.83
82.82
1.87
11.39
37.80
25.25
28.04
7.04
2.18
7.07
0.18
14.02
48.34

73,297

97,038

106,002

145,699

93,158

199,407

232,381

368,054

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.13
4.48
9.84
0.61
0.84
87.59
3.48
4.11
15.72
7.79
4.93
2.64

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

120

0.17
6.33
7.29
0.94
0.70
86.59
3.00
4.27
18.07
9.16

0.17
6.83
4.64
0.99
1.00
89.81
2.90
1.40
5.52
2.98

4.22

4.40

2.61

3.86
0.62
-4.02
0.10
-6.69
33.87

5.38
0.00
4.11
30.69

4.57
0.00
5.12
33.96

1.39
0.00
1.04
28.53

-2.30
0.00
-3.48
24.94

Financial Statement Analysis of Non Financial Sector 2010

Resham Textile 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

2005

2006

2007

2008

752,186

775,051

769,906

882,840

790,968
752,186
28,095
0

852,444
775,051
50,466
0

909,293
769,906
69,873
0

1,089,771
882,840
66,477
0

240,248
720
209,776
9,714
0
20,038
236,379
187,682
48,697
296,791

273,030
2,794
171,603
11,866
0
86,767
348,618
253,655
94,963
279,912

270,281
4,962
186,504
25,865
0
52,950
354,805
185,704
169,101
302,652

286,314
3,951
226,322
9,893
0
46,148
341,347
152,862
188,485
432,739

296,791
459,264
245,178
245,178
0
214,086

279,912
419,551
245,178
245,178
0
174,373

302,652
382,730
300,000
300,000
0
82,730

432,739
395,068
360,000
360,000
0
35,068

640,505
262,289
378,216
580,727

977,229
977,229
0
924,959

1,204,135
1,160,812
43,323
1,157,262

1,302,115
1,297,058
5,057
1,265,973

59,778
23,630

52,270
15,847

46,873
15,315

36,142
17,282

(Thousand Rupees)
2009
2010
824,910
0
1,099,190
821,228
72,095
0
0
3,683
355,896
5,623
288,971
23,659
0
37,642
420,836
308,065
112,772
379,651
355,882
0
0
4,010
19,759
380,318
360,000
360,000
0
(69,104)
0
(69,104)
89,422

910,812
8,631
962,156
898,508
65,999
0
0
3,673
373,256
27,438
249,702
45,371
0
50,745
207,820
110,816
97,004
432,278
268,422
0
0
8,062
155,794
643,970
360,000
360,000
0
110,821
0
110,821
173,150
2,232,455
2,134,782
97,673
1,811,714
1,462,264
349,450
420,741
55,593
17,022
38,571
136,454
98,324
95,965
277,176
11,651
36,000
0
321,791

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

21,445
1,449
0
0

(6,333)
5,219
0
0

(31,191)
6,345
0
0

(54,366)
6,548
0
0

1,542,141
1,520,321
21,819
1,419,120
1,086,537
332,583
123,021
29,174
7,990
21,184
91,432
112,166
110,230
(13,737)
218
0
0
(43,989)

756,055
0
19,996
187,682

699,463
0
(11,552)
253,655

685,382
0
(37,536)
185,704

827,807
0
(60,914)
152,862

759,969
355,882
(13,955)
663,947

1,076,248
268,422
229,525
379,238

0.04
2.50
1.52
0.65
1.02
90.67
1.16
2.75
5.12
3.61

0.04
5.13
1.21
0.93
0.78
94.65
1.50
-0.62
-1.44
-0.87

0.09
6.69
2.15
1.16
0.76
96.11
1.72
-2.99
-7.78
-4.50

0.04
6.09
0.76
1.11
0.84
97.22
1.96
-4.92
-13.98
-7.19

0.07
7.27
1.53
1.31
0.85
92.02
2.10
-1.17
-3.54
-1.73

0.35
4.40
2.03
1.74
1.80
81.15
0.99
22.49
54.12
30.19
7.38
8.94
3.89
12.42
0.50
7.38
17.89

23,630

15,847

15,315

17,282

15,999

50,177

80,613

79,341

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

121

3.05

5.69

6.46

5.75

5.34
0.88
-0.89
-0.05
-0.39
10.56

3.35
0.00
0.82
18.73

-0.65
0.00
-0.47
17.11

-2.59
0.00
-1.25
12.76

-4.18
0.00
-1.69
10.97

Financial Statement Analysis of Non Financial Sector 2010

Ruby 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

2005

2006

2007

2008

574,639

628,999

988,503

1,148,843

810,801
574,639
23,607
0

891,350
628,999
30,290
0

1,233,669
988,503
32,416
0

1,169,496
1,148,843
45,689
0

166,412
16,728
102,284
17,046
0
30,354
328,806
128,395
200,411
37,806

253,473
3,018
146,355
17,719
0
86,381
278,562
225,811
52,751
158,518

284,419
15,494
93,754
39,052
0
136,119
584,291
176,752
407,539
326,982

359,874
2,534
198,687
34,215
0
124,438
603,275
251,398
351,877
279,855

37,806
374,439
98,000
98,000
0
276,439

158,518
445,392
196,000
196,000
0
249,392

326,982
361,649
196,000
196,000
0
165,649

279,855
625,587
392,000
392,000
0
233,587

508,829
430,788
78,041
478,998

643,109
551,698
91,411
613,079

896,751
741,179
155,572
870,066

1,081,060
899,293
181,767
1,029,102

29,831
15,358

30,030
22,198

26,685
23,807

51,958
28,866

(Thousand Rupees)
2009
2010
1,111,024
4,480
1,169,612
1,098,847
50,348
0
0
7,697
359,702
954
223,721
17,775
0
117,252
343,619
214,974
128,645
601,461
414,355
169,581
0
1,393
16,133
525,646
392,000
392,000
0
(281,322)
3,240
(284,562)
414,969

1,067,201
0
1,176,558
1,059,407
47,633
0
0
7,794
476,994
2,396
331,278
13,478
0
129,842
366,221
214,442
151,779
642,935
424,125
182,220
0
3,103
33,487
535,040
392,000
392,000
0
(259,041)
3,240
(262,281)
402,080
1,379,194
1,247,582
131,612
1,232,461
980,901
251,560
146,733
43,975
22,713
21,262
97,108
69,889
66,465
34,302
7,554
0
0
(18,343)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

6,246
2,593
4,900
0

(16,158)
3,216
0
0

(56,440)
4,484
0
0

(52,655)
5,405
0
0

856,602
800,064
56,538
830,094
617,520
212,574
26,508
31,544
15,599
15,945
66,455
104,720
103,100
(106,991)
594
0
0
(93,022)

412,245
0
(1,247)
128,395

603,910
0
(19,374)
225,811

688,631
0
(60,924)
176,752

905,442
0
(58,060)
251,398

1,127,107
414,355
(107,585)
629,329

1,177,975
424,125
26,748
638,567

0.10
2.39
3.35
0.69
0.51
94.14
0.98
0.83
1.66
1.27
0.75
4.97

0.07
3.91
2.76
0.73
0.91
95.33
0.98
-1.99
-3.94
-3.18

0.09
6.83
4.35
0.70
0.49
97.02
2.52
-5.24
-13.99
-8.73

0.06
7.29
3.16
0.72
0.60
95.19
1.41
-3.79
-10.67
-6.61

0.05
12.23
2.08
0.58
1.05
96.91
1.80
-7.18
-18.59
-10.53

0.04
5.07
0.98
0.89
1.30
89.36
1.89
2.28
6.47
2.98

15,358

22,198

23,807

28,866

12,143

25,163

61,213

78,852

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

122

4.39

9.56

5.44

3.83
-0.04
-12.49
-0.10
-2.74
13.41

4.16
1.52
2.49
-0.02
0.68
13.65

1.23
0.00
0.37
38.21

-2.51
0.00
-0.99
22.72

-6.29
0.00
-3.11
18.45

-4.87
0.00
-1.48
15.96

Financial Statement Analysis of Non Financial Sector 2010

Safa 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

2005

2006

2007

2008

36,045

41,979

51,793

60,243

52,820
36,045
1,762
0

61,906
41,699
3,497
280

73,917
51,570
3,660
223

86,485
60,065
4,824
178

28,080
410
14,204
5,289
0
8,177
26,762
0
26,762
0

31,543
296
19,922
0
0
11,325
31,996
0
31,996
1,016

82,121
4,287
69,928
0
0
7,906
83,830
44,290
39,540
329

88,056
1,061
68,641
7,737
0
10,617
100,117
54,331
45,786
0

0
37,363
40,000
40,000
0
(2,637)

1,016
40,510
40,000
40,000
0
510

329
49,755
40,000
40,000
0
9,755

0
48,182
40,000
40,000
0
8,182

180,479
0
180,479
156,469

227,885
17,141
210,744
196,508

265,666
0
265,666
223,935

367,422
0
367,422
328,336

24,010
17,365

31,377
23,862

41,731
25,390

39,086
29,374

(Thousand Rupees)
2009
2010
50,645
0
84,074
50,502
5,476
143
0
0
126,060
5,582
52,522
23,128
0
44,827
125,006
82,555
42,451
0
0
0
0
0
0
51,699
40,000
40,000
0
11,699
0
11,699
0

52,680
0
90,074
52,566
5,515
114
0
0
143,833
1,349
61,463
22,529
0
58,492
142,464
102,411
40,052
0
0
0
0
0
0
54,050
40,000
40,000
0
14,050
0
14,050
0
477,113
7,020
470,093
418,628
264,732
153,896
58,485
43,700
12,218
31,482
29,665
8,253
5,604
7,051
4,701
6,000
0
(16,509)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,578
1,354
0
0

5,236
2,088
0
0

11,903
2,658
0
0

3,943
3,516
0
91

395,271
101,992
293,279
350,243
219,063
131,180
45,028
35,970
8,362
27,608
27,069
4,904
2,610
7,447
3,929
0
0
(30,350)

37,363
0
4,224
0

41,526
0
3,148
0

50,084
0
9,245
44,290

48,182
0
427
54,331

51,699
0
3,518
82,555

54,050
0
(3,650)
102,411

0.21
0.69
2.93
2.81
1.05
86.70
0.72
10.74
15.82
15.82

0.01
1.02
0.00
3.10
0.99
86.23
0.81
7.61
13.45
13.27

0.05
1.67
0.00
1.98
0.98
84.29
1.69
11.48
26.37
25.99

0.23
1.24
5.85
2.24
1.01
88.61
2.42
4.58
14.91
14.91

0.17
1.73
4.72
2.43
1.01
87.74
2.64
3.78
13.33
13.33
0.39
7.76
2.26
1.48
-0.12
0.59
13.51

17,365

23,862

25,390

29,374

1,243

2,330

4,432

5,507

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

123

0.09
1.50
2.11
2.48
0.88
89.36
2.08
2.79
8.05
8.03

12.71

11.44

3.80

5.35

7.53
3.85
1.88
-0.24
0.88
12.92

3.09
0.00
1.06
9.34

2.30
0.00
0.79
10.13

4.48
0.00
2.31
12.44

1.07
0.00
0.11
12.05

Financial Statement Analysis of Non Financial Sector 2010

Saif 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

2005

2006

2007

2008

1,797,495

2,122,031

2,302,728

2,195,285

2,448,416
1,784,713
130,679
12,782

2,779,601
2,120,349
189,292
1,682

2,824,189
2,302,015
150,515
713

3,156,565
2,194,375
166,923
910

1,261,225
1,902
797,442
354,084
24,957
82,840
1,335,706
1,167,264
168,442
1,018,621

1,465,859
15,026
955,583
382,206
30,130
82,914
1,704,400
1,357,271
347,129
981,954

1,879,454
3,154
933,599
732,669
0
210,032
2,097,479
1,496,385
601,094
1,070,597

2,098,124
4,892
911,516
89,203
0
1,092,513
2,435,385
1,478,612
956,773
883,642

1,018,621
704,393
189,129
189,129
0
515,264

981,954
901,536
189,129
189,129
0
712,407

1,070,597
1,014,106
264,129
264,129
0
749,977

883,642
974,382
264,129
264,129
0
710,253

2,223,652
1,923,551
300,101
2,033,798

3,473,267
2,685,089
788,178
3,127,149

3,813,037
2,793,718
1,019,319
3,423,596

4,489,205
3,125,656
1,363,549
4,048,768

189,854
69,056

346,118
113,228

389,441
156,688

440,437
210,563

(Thousand Rupees)
2009
2010
2,428,946
13,070
3,149,646
2,200,264
157,896
535
0
215,077
1,571,354
3,206
685,765
740,173
10,019
132,191
1,889,080
1,516,214
372,866
1,611,528
1,170,569
405,600
0
34,827
532
499,692
264,129
264,129
0
53,084
115,981
(62,897)
182,479

2,343,422
24,084
3,214,564
2,110,011
157,180
258
0
209,069
2,378,726
7,104
1,368,010
775,350
12,466
215,796
2,867,459
2,480,994
386,465
1,277,508
805,022
427,100
0
44,780
606
577,181
264,129
264,129
0
141,899
115,981
25,918
171,153
4,642,452
3,560,036
1,082,416
3,931,756
2,845,739
1,086,017
710,696
228,536
117,790
110,746
317,100
259,307
238,583
103,101
21,923
0
0
(220,498)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

37,397
14,154
18,913
0

52,373
17,300
14,185
0

(21,762)
18,961
14,185
0

(79,409)
22,448
0
0

3,727,820
3,051,115
676,705
3,616,538
2,616,097
1,000,441
111,282
229,209
124,178
105,031
277,645
346,441
338,276
(691,529)
8,059
0
0
363,328

1,723,014
0
4,330
1,167,264

1,883,490
0
20,888
1,357,271

2,084,703
0
(54,908)
1,496,385

1,858,024
0
(101,857)
1,478,612

2,111,220
1,170,569
(699,588)
2,686,783

1,854,689
805,022
81,178
3,286,016

0.35
6.84
19.21
0.91
0.90
89.79
3.12
-0.56
-2.27
-1.10
-2.87
4.08

0.04
7.02
1.99
1.05
0.86
90.19
3.41
-1.87
-7.99
-4.03

0.40
9.29
19.86
0.93
0.83
97.01
7.01
-16.68
-93.83
-34.84

0.28
5.59
16.70
0.98
0.83
84.69
7.18
2.36
19.15
5.20

69,056

113,228

156,688

210,563

94,639

211,500

260,902

314,998

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.29
4.26
15.92
0.73
0.94
91.46
3.34
1.29
4.96
2.13
1.23
2.79

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

124

0.25
6.09
11.00
0.97
0.86
90.03
2.98
1.58
6.52
2.90
2.47
3.63

4.92

5.44
-1.04
-18.55
0.10
-26.49
18.92

3.39
1.43
2.22
-0.05
3.07
21.85

1.68
0.00
1.23
37.24

1.51
0.00
1.85
47.67

-0.57
0.00
-1.54
38.39

-1.77
0.00
-3.86
36.89

Financial Statement Analysis of Non Financial Sector 2010

Saitex 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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

144,472

268,920
144,472
7,669
0

0
0
0
0

0
0
0
0

1
0
0
0

9,886
141
947
557
5
8,236
190,839
72,574
118,265
143,222

120,270
175
0
0
1
120,094
332,610
95,620
236,990
0

247
152
0
0
1
94
67
0
67
180

109
108
0
0
0
1
110
0
110
186

109
108
0
0
0
1
110
0
110
186

109
108
0
0
0
1
110
0
110
186

143,222
(179,703)
74,000
74,000
0
(253,703)

0
(212,340)
74,000
74,000
0
(286,340)

180
0
74,000
74,000
0
(74,000)

186
(187)
74,000
74,000
0
(74,187)

186
(187)
74,000
74,000
0
(74,187)

186
(187)
74,000
74,000
0
(74,187)

0
0
0
8,724

0
0
0
0

0
0
0
0

0
0
0
0

(8,724)
545

0
7,201

0
224

0
191

0
0
0
0
0
0
0
191
0
191

0
0
0
0
0
0
0
191
0
191

0
0
1
0
0
0
0

0
0
1
0
0
0
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

545

7,201

224

191

5,841

7,334

(5,008)
0
0
0

(14,073)
0
0
0

(224)
0
0
0

(187)
0
0
0

(191)

(191)

0
0

0
0

(36,481)
0
(5,008)
72,574

(212,340)
0
(14,073)
95,620

180
0
(224)
0

(1)
0
(187)
0

(1)
0
(191)
0

(1)
0
(191)
0

0.00

0.00

2.28

0.98

0.98

0.98

0.00
0.05

0.00
0.36

0.00
3.69

0.00
0.99

0.00
0.99

0.00
0.99

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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
-3.15
2.02
4.84

-1.57
-10.25
7.18
11.31

-0.37
0.21
0.21

-1.58
-105.06
200.00
-208.94

-1.58
-175.23
102.14
19,100.00

-1.58
-175.23
102.14
19,100.00

0.00
-0.68
-24.28

0.00
-1.90
-28.69

0.00
-0.03
0.00

0.00
-0.03
-0.03

0.00
-0.03
-0.03

0.00
-0.03
-0.03

0.00

125

Financial Statement Analysis of Non Financial Sector 2010

Sajjad 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

2005

2006

2007

2008

364,472

425,240

411,438

392,108

565,199
364,472
12,958
0

644,977
425,240
19,010
0

652,110
411,438
21,422
0

653,874
392,108
20,607
0

143,767
2,122
92,022
32,507
0
17,116
243,661
138,158
105,503
48,000

144,782
7,108
104,013
21,360
0
12,301
250,917
108,602
142,315
114,614

164,266
728
101,106
34,238
0
28,194
346,958
125,898
221,060
87,574

197,250
4,611
123,745
31,398
0
37,496
354,591
179,944
174,647
185,749

48,000
216,578
212,678
212,678
0
3,900

114,614
204,491
212,678
212,678
0
(8,187)

87,574
141,172
212,678
212,678
0
(71,506)

185,749
49,018
212,678
212,678
0
(163,660)

486,158
368,939
117,219
436,330

642,081
456,324
185,757
605,461

757,011
386,043
370,968
700,569

789,487
572,008
217,479
778,728

49,828
18,877

36,620
23,396

56,442
36,964

10,759
31,531

(Thousand Rupees)
2009
2010
376,960
0
653,004
374,318
19,516
292
0
2,350
18,928
1,768
0
646
8
16,506
225,237
188,928
36,309
127,510
35,869
91,566
0
75
0
43,141
212,678
212,678
0
(241,380)
3
(241,383)
71,843

414,697
0
414,723
403,134
17,432
195
0
11,369
17,018
1,150
0
0
14
15,855
23,886
0
23,886
212,371
0
199,437
0
261
12,673
195,459
212,678
212,678
0
(146,427)
9
(146,436)
129,208
0
0
0
23,324
0
23,324
(23,324)
13,196
0
13,196
5,150
415
0
81,143
0
0
0
(30,220)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

18,286
3,093
0
0

(13,355)
3,210
0
0

(13,361)
3,736
0
0

(60,850)
3,975
0
0

301,111
231,278
69,833
305,483
193,238
112,245
(4,372)
36,618
4,184
32,434
14,560
29,894
28,499
(70,884)
1,514
0
0
29,002

264,578
0
15,193
138,158

319,105
0
(16,565)
108,602

228,746
0
(17,097)
125,898

234,767
0
(64,825)
179,944

170,651
35,869
(72,398)
224,796

407,829
0
81,143
0

0.14
2.61
6.69
0.96
0.59
89.75
1.35
3.77
8.77
5.87

0.11
4.14
3.33
1.13
0.58
94.30
1.79
-2.48
-6.34
-4.58

0.10
4.38
4.52
1.31
0.47
92.54
3.08
-2.33
-7.73
-4.88

0.10
5.08
3.98
1.34
0.56
98.64
11.02
-10.45
-63.99
-26.26

0.01
9.93
0.21
0.76
0.08
101.45
8.18
-14.39
-153.83
-34.97

0.05

18,877

23,396

36,964

31,531

12,698

26,579

33,137

40,078

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

126

5.28

6.17

7.49

6.38

3.76
0.00
0.71
10.18

-2.08
0.00
-0.78
9.62

-1.76
0.00
-0.80
6.64

-7.71
0.00
-3.05
2.30

-1.49
-23.54
0.08
-3.40
2.03

0.00
0.71

1.21
19.61
68.02
28.05

-0.13
3.82
9.19

Financial Statement Analysis of Non Financial Sector 2010

Saleem Denim 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

2005

2006

2007

2008

94,859

90,153

90,153

90,153

144,108
94,859
3,689
0

144,108
90,153
4,706
0

144,108
90,153
4,706
0

144,108
90,153
4,706
0

9,146
18
7,411
71
0
1,646
265,799
127,738
138,061
9,258

8,360
18
5,195
0
0
3,147
65,123
12,258
52,865
18,020

8,360
18
5,195
0
0
3,147
65,123
12,258
52,865
18,020

8,360
18
5,195
0
0
3,147
65,123
12,258
52,865
18,020

9,258
(171,052)
39,018
39,018
0
(210,070)

18,020
15,370
39,018
39,018
0
(23,648)

18,020
15,370
39,018
39,018
0
(23,648)

18,020
15,370
39,018
39,018
0
(23,648)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
3,945

0
5,865

0
5,865

0
5,865

(Thousand Rupees)
2009
2010
27,350
0
30,971
26,853
1,014
0
0
497
415
8
0
0
0
407
66,977
0
66,977
6,639
0
5,453
0
1,186
0
(45,852)
39,018
39,018
0
(85,421)
0
(85,421)
551

26,624
0
30,971
26,127
726
0
0
497
415
8
0
0
0
407
67,416
0
67,416
6,639
0
5,453
0
1,186
0
(47,017)
39,018
39,018
0
(86,586)
0
(86,586)
551
0
0
0
0
0
0
0
1,165
0
1,165
144
0
0
(1,165)
0
0
0
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(13,440)
0
0
0

187,608
0
0
0

187,608
0
0
0

187,608
0
0
0

0
0
0
0
0
0
0
1,383
0
1,383
144
0
0
(1,383)
0
0
0
1,783

(161,794)
0
(13,440)
127,738

33,390
0
187,608
12,258

33,390
0
187,608
12,258

33,390
0
187,608
12,258

(39,213)
0
(1,383)
0

(40,378)
0
(1,165)
0

0.00

0.00

0.00

0.00

0.00

0.00

0.00
0.03

0.00
0.13

0.00
0.13

0.00
0.13

0.00
0.01

0.00
0.01

3,945

5,865

5,865

5,865

9,495

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

127

-1.61
-12.69
8.18
8.73

5.41
185.28
-241.01
-292.22

5.41
190.44
1,220.61
561.87

5.41
190.44
1,220.61
561.87

-1.61
-2.19
9.07
47.50

-1.58
-4.25
2.51
2.93

0.00
-0.30
-12.05

0.00

0.00

0.00

0.00

0.00
-3.44
-43.84

0.00
48.08
3.94

0.00
48.08
3.94

0.00
48.08
3.94

0.02
-0.35
-11.75

Financial Statement Analysis of Non Financial Sector 2010

Salfi 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

2005

2006

2007

2008

888,390

1,380,413

1,355,518

1,918,615

990,973
888,390
30,057
0

1,517,104
1,380,413
38,513
0

1,545,281
1,355,518
68,428
0

1,961,285
1,918,615
66,816
0

513,352
15,360
286,842
111,388
33,401
66,361
530,115
360,263
169,852
122,169

879,080
5,506
534,305
141,110
103,132
95,027
872,202
628,738
243,464
574,297

691,783
32,669
238,154
184,786
115,795
120,379
471,492
276,489
195,003
815,368

1,367,589
18,635
813,218
254,061
113,796
167,879
1,951,463
798,513
1,152,950
176,230

122,169
749,458
33,426
33,426
0
716,032

574,297
812,994
33,426
33,426
0
779,568

815,368
760,441
33,426
33,426
0
727,015

176,230
1,158,511
33,426
33,426
0
1,125,085

827,978
827,978
0
779,512

824,655
824,655
0
733,386

1,669,485
1,349,511
319,974
1,508,703

1,942,693
1,646,700
295,993
1,689,297

48,466
26,854

91,269
43,784

160,782
74,941

253,396
92,881

(Thousand Rupees)
2009
2010
2,133,502
4,836
1,969,631
1,848,871
66,722
0
279,176
620
993,437
21,664
700,534
209,546
0
61,692
1,097,656
853,250
244,406
856,871
574,150
145,000
0
19,794
117,928
1,172,411
33,426
33,426
0
(16,678)
5,672
(22,350)
1,155,664

2,207,707
3,995
1,995,867
1,808,691
63,558
0
394,727
295
613,593
31,367
244,289
258,970
0
78,967
578,795
259,736
319,059
750,988
441,615
81,667
0
22,721
204,985
1,491,518
33,426
33,426
0
313,187
5,557
307,629
1,144,905
3,160,366
2,334,059
826,307
2,537,320
1,695,925
841,395
623,046
119,793
49,366
70,426
187,701
194,530
184,580
411,462
19,976
8,356
0
816,604

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

610
3,860
3,039
3,039

7,390
4,610
3,343
0

(24,519)
8,521
0
0

25,143
10,386
0
0

1,980,144
1,731,950
248,194
1,778,839
1,545,100
233,739
201,305
135,521
33,736
101,785
154,256
257,565
247,338
(241,177)
2,359
0
0
(33,940)

871,627
0
(6,289)
360,263

1,387,291
0
(563)
628,738

1,575,809
0
(33,040)
276,489

1,334,741
0
14,757
798,513

2,029,282
574,150
(243,535)
1,427,399

2,242,506
441,615
383,130
701,351

0.30
2.54
13.45
0.59
0.97
94.15
0.87
0.05
0.10
0.08
-1.07
2.89

0.29
5.97
17.11
0.36
1.01
88.93
1.78
0.40
0.95
0.65
0.83
1.54

0.71
8.10
11.07
0.82
1.47
90.37
1.69
-1.14
-3.12
-1.65

0.20
7.22
13.08
0.59
0.70
86.96
1.84
0.94
2.62
1.73

0.21
13.01
10.58
0.63
0.91
89.83
1.67
-7.52
-20.69
-14.34

0.50
6.16
8.19
1.12
1.06
80.29
0.89
13.83
30.89
19.26
46.85
12.94
3.23
13.02
0.61
117.12
446.22

26,854

43,784

74,941

92,881

21,068

49,235

135,219

140,297

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

128

7.01

2.39

2.83
0.02
-12.18
-0.02
-72.86
350.75

0.07
0.00
-0.97
224.21

0.90
0.00
0.83
243.22

-1.47
0.00
-9.88
227.50

1.29
0.00
4.41
346.59

Financial Statement Analysis of Non Financial Sector 2010

Sally 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

2005

2006

2007

2008

418,754

478,645

500,282

545,976

682,207
418,754
15,698
0

762,629
478,645
20,722
0

791,923
500,282
25,082
0

872,121
545,976
26,383
0

261,492
5,187
228,668
296
0
27,341
608,716
442,216
166,500
170,743

249,102
1,165
208,510
2,090
0
37,337
689,167
563,990
125,177
123,390

231,408
12,131
126,303
31,080
0
61,894
723,238
408,507
314,731
133,647

486,079
12,861
398,290
25,744
0
49,184
1,114,213
623,104
491,109
116,250

170,743
(99,213)
87,750
87,750
0
(186,963)

123,390
(84,810)
87,750
87,750
0
(172,560)

133,647
(125,195)
87,750
87,750
0
(212,945)

116,250
(198,408)
87,750
87,750
0
(286,158)

518,614
518,614
0
471,982

798,115
798,115
0
721,858

883,696
882,492
1,204
828,372

1,035,566
1,024,409
11,157
1,011,064

46,632
10,480

76,257
21,161

55,324
19,969

24,502
39,973

(Thousand Rupees)
2009
2010
550,003
0
893,635
538,837
28,786
0
0
11,166
367,458
2,165
301,381
20,161
0
43,751
775,630
572,620
203,010
244,826
83,513
119,898
0
41,415
0
(102,994)
87,750
87,750
0
(278,318)
0
(278,318)
87,574

758,822
13,507
1,218,984
734,772
30,883
0
0
10,543
447,211
2,599
306,354
51,769
0
86,489
702,937
483,619
219,319
351,630
71,310
163,678
0
43,407
73,236
151,465
87,750
87,750
0
(139,516)
0
(139,516)
203,231
1,745,619
1,669,161
76,458
1,488,831
998,833
489,998
256,788
49,994
14,255
35,739
149,293
61,743
47,411
145,968
8,346
8,775
0
147,648

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

18,408
2,593
0
0

13,301
3,984
0
0

(6,846)
4,411
0
0

(60,217)
5,384
0
0

1,182,377
1,156,112
26,265
1,111,359
783,429
327,930
71,018
28,083
7,815
20,268
119,108
39,913
62,020
4,248
0
0
0
103,101

71,530
0
15,815
442,216

38,580
0
9,317
563,990

8,452
0
(11,257)
408,507

(82,158)
0
(65,601)
623,104

141,832
83,513
4,248
656,133

503,095
71,310
128,847
554,928

0.01
3.58
0.06
0.76
0.43
91.01
-7.86
3.09
-19.41
19.90

0.00
5.25
0.26
1.10
0.36
90.45
-9.58
1.89
-14.46
24.16

0.06
4.96
3.52
1.21
0.32
93.74
-6.84
-0.94
6.52
-29.11

0.03
4.44
2.49
1.00
0.44
97.63
-6.20
-6.83
37.22
163.40

0.03
3.38
1.71
1.29
0.47
93.99
-9.91
0.44
-2.82
14.24

0.08
3.54
2.97
1.45
0.64
85.29
6.96
13.75
602.29
45.27
15.68
5.70
4.08
8.36
0.14
15.68
17.26

10,480

21,161

19,969

39,973

18,551

41,871

43,827

45,936

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

129

2.27

3.83

7.00

2.60

3.92
1.07
0.36
0.10
0.48
-11.74

3.55
0.00
1.80
-11.31

1.67
0.00
1.06
-9.66

-0.77
0.00
-1.28
-14.27

-5.81
0.00
-7.48
-22.61

Financial Statement Analysis of Non Financial Sector 2010

Salman Noman Enterprises Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

291,701

275,985

335,786

608,784

419,396
291,701
11,523
0

406,149
275,985
14,362
0

402,305
335,786
13,889
0

770,920
608,784
19,345
0

81,112
3,759
56,621
1,081
0
19,651
80,668
46,312
34,356
30,375

97,330
698
68,122
957
0
27,553
195,510
68,808
126,702
16,127

101,737
719
59,799
1,822
0
39,397
246,784
27,758
219,026
15,232

186,844
4,158
93,993
21,602
0
67,091
190,247
107,830
82,417
322,929

30,375
261,770
39,760
39,760
0
222,010

16,127
161,678
39,760
39,760
0
121,918

15,232
175,507
39,760
39,760
0
135,747

322,929
282,452
39,760
39,760
0
242,692

384,685
384,685
0
364,808

473,960
473,960
0
452,565

501,920
501,920
0
474,217

584,824
584,824
0
563,438

19,877
6,526

21,395
9,532

27,703
17,600

21,386
11,235

(Thousand Rupees)
2009
2010
653,937
0
861,965
642,417
29,278
0
0
11,520
247,471
7,605
150,334
18,377
0
71,155
290,715
154,800
135,915
351,415
263,921
19,017
0
9,976
58,502
259,278
39,760
39,760
0
37,561
0
37,561
181,958

644,907
0
876,772
627,239
31,324
0
0
17,668
258,837
6,952
151,182
19,190
0
81,514
286,335
117,417
168,918
348,762
238,170
25,932
0
12,485
72,175
268,646
39,760
39,760
0
54,502
0
54,502
174,384
1,186,789
1,186,789
0
1,072,082
782,375
289,707
114,707
28,602
627
27,975
89,957
58,282
45,974
28,706
5,934
0
1,988
85,940

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

9,314
1,919
0
0

1,755
2,343
0
0

4,197
2,483
0
0

2,840
1,762
0
0

868,393
868,393
0
846,194
633,292
212,902
22,199
51,196
250
50,946
69,766
53,581
51,735
(82,150)
0
0
0
(6,577)

292,145
0
7,395
46,312

177,805
0
(588)
68,808

190,739
0
1,714
27,758

605,381
0
1,078
107,830

610,694
263,921
(82,150)
418,721

617,409
238,170
22,772
355,587

0.06
1.25
0.28
1.03
1.01
94.83
0.42
2.47
4.33
3.84

0.01
2.22
0.20
1.27
0.50
95.49
1.31
0.47
0.83
0.75

0.01
1.70
0.36
1.15
0.41
94.48
1.49
1.04
2.49
2.28

0.14
2.56
3.69
0.74
0.98
96.34
1.82
0.46
1.24
0.71

0.09
6.17
2.12
0.96
0.85
97.44
2.48
-9.68
-30.33
-13.51

0.09
4.91
1.62
1.31
0.90
90.33
2.36
3.18
10.88
4.67

6,526

9,532

17,600

11,235

4,795

10,545

8,514

14,997

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

130

6.79

6.96

8.39

6.22

5.78
-0.59
-9.46
-0.01
-20.66
65.21

7.85
1.62
2.42
0.14
5.73
67.57

2.42
0.00
1.86
65.84

0.37
0.00
-0.15
40.66

0.84
0.00

0.49
0.00
0.27
71.04

Financial Statement Analysis of Non Financial Sector 2010

Samin 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

2005

2006

2007

2008

642,962

745,533

733,698

678,626

1,010,353
642,962
45,037
0

1,153,659
745,533
59,226
0

1,208,791
733,698
68,754
0

1,221,365
678,626
68,471
0

779,153
38,006
402,812
207,418
36,560
94,357
922,957
714,351
208,606
236,187

694,731
14,311
390,012
147,898
73,969
68,541
857,004
704,514
152,490
184,079

793,953
11,559
389,686
2,912
110,199
279,597
1,228,051
620,705
607,346
37,823

1,926,100
22,725
311,068
244,038
0
1,348,269
1,166,941
691,489
475,452
382,722

236,187
262,971
133,640
133,640
0
129,331

184,079
399,181
133,640
133,640
0
265,541

37,823
261,777
133,640
133,640
0
128,137

382,722
1,055,063
133,640
133,640
0
921,423

1,361,593
623,400
738,193
1,235,607

1,634,284
686,704
947,580
1,443,467

1,687,510
708,276
979,234
1,536,078

1,613,642
827,249
786,393
1,565,696

125,986
92,650

190,817
83,221

151,432
92,392

47,946
91,869

(Thousand Rupees)
2009
2010
638,615
0
1,236,722
631,361
62,889
0
1,000
6,254
1,680,672
8,468
345,221
118,100
1,078,386
130,497
1,000,406
710,150
290,257
456,273
59,595
133,072
0
1,829
261,777
862,607
133,640
133,640
0
662,317
0
662,317
66,650

847,865
2,310
1,416,186
835,533
59,041
0
2,150
7,873
1,437,998
16,491
330,998
109,438
836,601
144,470
1,038,125
731,974
306,151
418,987
19,556
133,072
0
1,692
264,667
828,751
133,640
133,640
0
470,351
0
470,351
224,760
1,810,677
869,105
941,571
1,729,173
1,379,726
349,448
81,503
88,702
39,170
49,532
98,653
141,489
133,352
(13,547)
15,921
0
0
(69,051)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(17,198)
12,750
0
0

42,178
12,527
0
0

31,500
12,839
0
0

(11,781)
11,300
0
0

1,585,781
739,691
846,090
1,474,120
1,124,935
349,186
111,660
81,528
43,043
38,484
94,185
134,367
126,791
(69,235)
9,056
0
0
46,157

499,158
0
(29,948)
714,351

583,260
0
29,651
704,514

299,600
0
18,661
620,705

1,437,785
0
(23,081)
691,489

1,318,880
59,595
(78,291)
769,745

1,247,738
19,556
(29,468)
751,531

0.31
3.97
15.23
0.96
0.84
90.75
4.41
-1.26
-8.13
-4.02

0.28
6.36
9.05
1.13
0.81
88.32
2.61
2.95
12.74
7.79

0.10
6.76
0.17
1.10
0.65
91.03
4.84
2.12
9.53
7.14

0.23
6.74
15.12
0.62
1.65
97.03
1.47
-0.57
-1.79
-1.36

1.20
8.47
7.45
0.68
1.68
92.96
1.69
-2.81
-7.22
-5.02

0.93
7.81
6.04
0.79
1.39
95.50
1.76
-0.59
-1.60
-1.06

92,650

83,221

92,392

91,869

54,117

104,016

114,154

108,784

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

131

3.38

4.19

4.33

5.19

4.59
0.45
-4.37
0.03
-5.86
64.55

5.47
0.90
-0.75
-0.05
-2.21
62.01

-1.26
0.00
-2.24
19.68

2.58
0.00
2.22
29.87

1.87
0.00
1.40
19.59

-0.73
0.00
-1.73
78.95

Financial Statement Analysis of Non Financial Sector 2010

Sana 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

2005

2006

2007

2008

106,899

144,886

175,732

172,131

399,560
106,899
11,752
0

452,772
144,886
17,042
0

502,798
175,732
20,228
0

521,224
172,131
23,410
0

198,211
5,341
76,347
96,443
0
20,080
102,945
73,645
29,300
0

191,951
7,528
57,485
122,235
0
4,703
104,145
84,906
19,239
24,295

179,591
15,329
69,204
89,134
0
5,924
278,731
103,096
175,635
21,592

187,498
4,448
78,752
0
0
104,298
161,839
0
161,839
5,115

0
202,165
50,000
50,000
0
152,165

24,295
208,397
50,000
50,000
0
158,397

21,592
55,000
55,000
55,000
0
0

5,115
192,675
55,000
55,000
0
137,675

336,737
336,737
0
316,764

481,623
481,623
0
427,863

382,759
382,759
0
411,080

385,654
385,654
0
348,008

19,973
11,577

53,760
16,468

(28,321)
12,637

37,646
14,056

(Thousand Rupees)
2009
2010
172,189
288
532,098
171,204
25,302
0
0
697
204,039
20,322
83,326
85,270
0
15,121
145,487
115,195
30,292
20,116
2,365
0
0
0
17,751
210,624
55,000
55,000
0
155,624
0
155,624
0

166,399
192
551,309
165,111
27,668
0
0
1,097
236,609
9,994
128,960
89,280
0
8,375
158,213
123,718
34,495
16,548
0
0
0
0
16,548
228,248
55,000
55,000
0
173,248
0
173,248
0
713,117
711,005
2,112
613,935
395,586
218,349
99,182
24,483
4,738
19,746
74,940
18,018
17,869
58,489
22,818
33,000
0
51,185

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

13,220
3,408
10,000
10,000

32,127
12,885
12,500
5,000

(54,888)
2,054
0
0

7,237
2,173
5,500
0

506,145
506,145
0
437,172
281,642
155,530
68,973
17,842
3,826
14,015
60,709
18,353
18,223
36,102
0
19,250
0
89,675

202,165
0
(188)
73,645

232,692
0
6,742
84,906

76,592
0
(56,942)
103,096

197,790
0
(436)
0

230,740
2,365
16,852
117,560

244,796
0
2,671
123,718

0.99
0.54
28.64
1.10
1.93
94.07
0.51
4.50
6.76
6.76
0.98
4.41

1.25
1.53
25.38
1.43
1.84
88.84
0.62
10.01
15.65
14.78
1.54
8.38

0.37
3.71
23.29
1.08
0.64
107.40
5.46
-15.86
-41.68
-35.49

0.03
4.28
0.00
1.07
1.16
90.24
0.87
2.02
5.84
5.28
0.92
4.90

0.73
3.63
16.85
1.35
1.40
86.37
0.79
9.81
17.90
16.85
1.88
6.07
2.98
7.13
0.54
6.56
38.30

0.63
2.53
12.52
1.77
1.50
86.09
0.77
15.01
26.65
24.60
1.08
5.53
4.27
8.20
0.29
6.49
41.50

11,577

16,468

12,637

14,056

1,829

7,375

14,212

16,494

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

132

5.53

3.93
0.00
1.96
40.43

6.67
0.00
3.85
41.68

-14.34
0.00

1.88
0.00
0.92
35.03

Financial Statement Analysis of Non Financial Sector 2010

Sapphire 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

2005

2006

2007

2008

2,347,234

2,614,510

2,720,531

2,754,877

3,727,906
2,347,234
149,491
0

4,222,604
2,608,312
236,142
6,198

4,519,977
2,712,596
253,745
7,935

4,837,666
2,748,952
254,939
5,925

3,369,787
42,045
1,489,161
532,864
1,052,061
253,656
2,248,681
1,891,412
357,269
470,596

5,400,682
35,600
1,291,006
652,609
3,159,154
262,313
2,473,996
1,964,522
509,474
502,619

8,286,493
28,041
1,322,712
859,682
5,554,971
521,087
2,742,546
1,922,612
819,934
627,720

8,793,634
38,276
2,082,335
875,712
5,532,135
265,176
3,754,352
2,961,410
792,942
1,082,667

470,596
2,997,744
175,000
175,000
0
2,822,744

502,619
5,038,577
175,000
175,000
0
4,863,577

627,720
7,636,758
175,000
175,000
0
7,461,758

1,082,667
6,711,492
175,000
175,000
0
6,536,492

3,369,560
984,386
2,385,174
2,941,536

4,811,448
4,811,448
0
4,222,423

5,417,865
1,496,376
3,921,489
4,688,950

6,511,531
1,569,982
4,941,549
5,420,598

428,024
70,961

589,025
96,668

728,915
116,154

1,090,933
455,321

(Thousand Rupees)
2009
2010
19,020,954
13,200,555
4,939,474
2,599,764
256,887
13,235
3,192,722
14,678
3,459,729
108,039
1,894,004
886,258
156,412
415,015
4,095,782
2,285,211
1,810,571
11,239,821
10,800,718
0
0
81,082
358,022
7,145,081
175,000
175,000
0
6,970,081
2,035,587
4,934,494
0

22,771,636
15,900,746
5,122,608
2,550,331
243,996
10,471
4,265,428
44,661
5,172,454
661,757
2,237,874
1,066,667
199,868
1,006,289
5,506,771
3,449,891
2,056,880
13,080,515
12,694,512
0
0
102,943
283,060
9,356,803
196,875
196,875
0
9,159,928
3,200,428
5,959,500
0
9,235,884
1,148,846
8,087,038
7,325,041
5,208,984
2,116,057
1,910,843
667,877
466,805
201,072
129,944
643,153
557,178
1,118,888
105,870
29,531
0
30,053

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

281,593
36,072
26,250
0

317,324
49,943
43,750
0

549,492
75,783
0
0

1,296,189
75,452
81,795
0

7,452,430
1,725,545
5,726,884
6,078,136
4,274,724
1,803,412
1,374,293
498,490
361,323
137,167
540,919
667,756
563,529
630,442
88,403
0
21,875
159,394

3,468,340
0
219,271
1,891,412

5,541,196
0
223,631
1,964,522

8,264,478
0
473,709
1,922,612

7,794,159
0
1,138,942
2,961,410

18,384,902
10,800,718
542,039
13,085,928

22,437,318
12,694,512
983,486
16,144,403

0.72
3.37
15.81
0.59
1.50
87.30
0.91
5.60
10.36
8.96
9.35
2.26

1.56
5.50
13.56
0.60
2.18
87.76
0.59
4.62
7.90
7.04
6.11
3.73

2.35
5.55
15.87
0.49
3.02
86.55
0.44
5.78
8.67
7.96

0.28
8.96
11.89
0.33
0.84
81.56
2.15
3.71
9.10
4.82

0.35
6.96
11.55
0.33
0.94
79.31
1.99
4.44
13.56
5.48
34.30
4.13
3.01
12.11
0.00
51.45
475.27

70,961

96,668

116,154

455,321

113,438

264,509

300,807

435,080

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

133

4.10

1.72
6.68
13.45
0.56
2.34
83.25
0.72
11.49
18.07
16.14
14.92
3.13

8.36
0.00
14.03
171.30

6.60
0.00
15.28
287.92

10.14
0.00
27.07
436.39

19.91
0.00
69.76
383.51

3.93
2.12
8.46
0.01
30.97
408.29

Financial Statement Analysis of Non Financial Sector 2010

Sapphire 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

2005

2006

2007

2008

3,294,347

3,926,180

4,108,894

4,074,057

5,210,481
3,290,827
208,798
3,520

6,143,536
3,923,489
334,612
2,691

6,490,914
4,107,031
387,140
1,863

6,999,236
4,073,022
390,889
1,035

4,023,575
41,256
1,860,864
976,383
863,332
281,740
3,006,481
2,283,247
723,234
1,187,617

5,292,211
33,312
1,908,735
1,181,491
1,926,421
242,252
4,390,082
3,214,639
1,175,443
934,381

7,017,110
53,774
1,949,146
1,280,852
400,087
3,333,251
4,372,189
3,105,043
1,267,146
734,947

8,250,208
66,875
3,278,653
1,129,634
140,660
3,634,386
5,880,623
4,921,423
959,200
866,151

1,187,617
3,123,824
200,831
200,831
0
2,922,993

934,381
3,893,928
200,831
200,831
0
3,693,097

734,947
6,018,868
200,831
200,831
0
5,818,037

866,151
5,577,491
200,831
200,831
0
5,376,660

5,560,149
2,241,155
3,318,994
4,955,867

8,270,193
4,215,267
4,054,926
7,505,448

9,124,795
4,652,784
4,472,011
8,289,587

9,746,607
5,129,452
4,617,155
8,618,580

604,282
99,413

764,745
133,353

835,208
143,598

1,128,027
557,902

(Thousand Rupees)
2009
2010
7,828,235
177,212
7,190,974
3,778,949
396,187
7,405
3,838,669
26,000
4,177,509
89,246
2,603,526
1,112,467
0
372,270
4,593,083
3,960,727
632,356
1,229,653
702,714
0
0
87,194
439,744
6,183,007
200,831
200,831
0
5,982,176
0
5,982,176
0

8,845,946
213,372
7,450,767
3,680,123
379,405
5,920
4,909,434
37,096
5,134,745
121,649
2,984,819
1,251,651
0
776,626
4,683,318
3,751,619
931,699
1,021,329
544,445
0
0
96,702
380,182
8,276,044
200,831
200,831
0
8,075,213
0
8,075,213
0
14,638,891
4,216,376
10,422,515
11,879,502
8,646,176
3,233,326
2,759,388
1,064,657
669,148
395,508
934,518
748,655
643,907
1,118,199
184,875
100,416
0
886,290

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

381,673
41,503
30,125
0

263,460
55,739
25,104
0

319,710
64,597
0
0

670,601
60,501
24,099
0

11,851,421
5,327,329
6,524,092
10,099,834
7,126,474
2,973,360
1,751,587
773,336
577,605
195,731
835,231
847,821
725,451
255,872
77,445
30,125
0
1,245,160

4,311,441
0
310,045
2,283,247

4,828,309
0
182,617
3,214,639

6,753,815
0
255,113
3,105,043

6,443,642
0
586,001
4,921,423

7,412,660
702,714
148,303
4,663,441

9,297,373
544,445
832,909
4,296,064

0.63
3.15
17.56
0.76
1.34
89.13
1.34
5.82
13.78
9.96
11.29
2.99

0.72
5.17
14.29
0.90
1.21
90.75
1.37
3.19
7.51
5.77
8.27
4.33

0.40
5.12
14.04
0.82
1.60
90.85
0.85
3.14
6.45
5.52

0.23
7.54
11.59
0.79
1.40
88.43
1.21
5.72
11.57
10.16
25.32
2.97

0.26
7.15
9.39
0.99
0.91
85.22
0.94
2.10
4.35
3.69
5.92
4.55
1.35
2.16
0.21
8.88
307.87

0.29
5.11
8.55
1.05
1.10
81.15
0.69
8.61
15.47
13.38
9.29
4.90
2.74
7.64
0.16
46.47
412.09

99,413

133,353

143,598

557,902

174,923

427,834

467,520

734,683

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

134

4.68

6.86
0.00
16.94
155.54

3.19
0.00
10.34
193.89

3.50
0.00
12.70
299.70

6.88
0.00
30.38
277.72

Financial Statement Analysis of Non Financial Sector 2010

Sargodha 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

2005

2006

2007

2008

747,890

798,883

821,208

1,094,494

1,458,831
747,890
38,689
0

1,547,848
798,883
54,530
0

1,572,175
821,208
62,093
0

1,897,383
1,094,494
58,906
0

263,499
1,682
185,281
43,103
1,557
31,876
356,073
225,981
130,092
227,336

347,492
629
199,986
92,990
540
53,347
429,079
310,104
118,975
245,327

272,710
994
149,723
60,889
850
60,254
491,487
196,957
294,530
220,791

283,634
1,695
191,628
35,335
529
54,447
496,411
227,360
269,051
204,981

227,336
427,980
312,000
312,000
0
115,980

245,327
471,969
312,000
312,000
0
159,969

220,791
381,640
312,000
312,000
0
69,640

204,981
676,736
312,000
312,000
0
364,736

1,070,199
809,417
260,782
977,684

1,430,953
1,098,253
332,700
1,280,791

1,349,123
879,963
469,160
1,309,615

1,505,524
1,182,412
323,112
1,437,053

92,515
28,692

150,162
56,297

39,508
63,555

68,471
56,923

(Thousand Rupees)
2009
2010
1,048,694
0
1,899,363
1,042,697
53,322
0
190
5,807
173,604
2,489
107,324
15,453
0
48,338
477,915
262,180
215,735
193,331
162,687
0
0
0
30,644
551,052
312,000
312,000
0
(347,668)
0
(347,668)
586,720

1,001,233
245
1,886,211
997,364
48,277
0
259
3,365
329,060
3,468
185,480
53,008
0
87,104
442,563
292,691
149,872
216,862
186,218
0
0
0
30,644
670,868
312,000
312,000
0
(220,379)
0
(220,379)
579,247
1,928,141
942,831
985,310
1,638,531
1,311,393
327,138
289,610
95,538
57,966
37,572
143,289
77,694
70,126
135,056
15,069
15,600
0
243,249

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

48,612
4,805
0
0

57,281
7,159
0
0

(83,568)
6,845
0
0

(51,674)
7,528
0
0

1,402,105
917,052
485,053
1,386,328
1,041,748
344,580
15,777
63,610
35,181
28,429
116,852
76,119
73,205
(123,623)
4,983
0
0
8,888

655,316
0
43,807
225,981

717,296
0
50,122
310,104

602,431
0
(90,413)
196,957

881,717
0
(59,202)
227,360

744,383
162,687
(128,606)
424,867

887,730
186,218
104,387
478,909

0.13
1.58
4.03
1.06
0.74
91.36
1.36
4.76
10.80
7.28

0.22
2.70
6.50
1.25
0.81
89.51
1.43
5.31
12.73
8.35

0.13
4.43
4.51
1.23
0.55
97.07
1.87
-7.46
-19.58
-12.66

0.08
4.24
2.35
1.09
0.57
95.45
1.04
-4.18
-9.76
-6.96

0.04
5.43
1.10
1.15
0.36
98.87
1.22
-9.51
-20.14
-15.20

0.13
4.03
2.75
1.45
0.74
84.98
0.98
10.58
22.11
16.55
7.69
10.40
2.93
7.00
0.37
3.85
21.50

28,692

56,297

63,555

56,923

16,860

38,618

59,833

63,890

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

135

5.78

7.16

9.01

7.86

13.06
-0.69
-8.82
0.01
-4.12
17.66

4.54
0.00
1.40
13.72

4.00
0.00
1.61
15.13

-6.19
0.00
-2.90
12.23

-3.43
0.00
-1.90
21.69

Financial Statement Analysis of Non Financial Sector 2010

Saritow 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

2005

2006

2007

2008

242,107

235,286

243,108

291,668

546,304
242,107
9,887
0

553,580
235,286
12,598
0

570,683
243,108
12,403
0

633,558
291,668
14,077
0

233,467
1,481
109,733
10,783
0
111,470
258,944
73,647
185,297
126,686

362,644
3,679
162,389
6,588
0
189,988
397,958
170,658
227,300
111,268

358,165
6,634
156,272
77,602
0
117,657
409,656
154,656
255,000
108,740

303,442
6,082
188,631
7,974
0
100,755
332,562
167,255
165,307
141,009

126,686
89,944
132,750
132,750
0
(42,806)

111,268
88,704
132,750
132,750
0
(44,046)

108,740
82,877
132,750
132,750
0
(49,873)

141,009
121,539
132,750
132,750
0
(11,211)

289,489
289,489
0
258,910

411,289
411,289
0
357,528

464,522
464,522
0
403,983

450,555
450,555
0
388,685

30,579
9,547

53,761
14,970

60,539
15,510

61,870
17,193

(Thousand Rupees)
2009
2010
341,762
0
690,405
338,680
15,383
0
0
3,082
228,616
3,520
174,447
97
0
50,552
329,467
148,188
181,279
214,177
76,069
90,855
0
9,903
37,350
26,734
132,750
132,750
0
(131,296)
0
(131,296)
25,280

359,976
0
726,086
356,894
17,467
0
0
3,082
160,492
12,465
108,671
99
0
39,258
202,120
99,728
102,392
208,371
54,347
90,855
0
13,200
49,969
109,978
132,750
132,750
0
(81,994)
0
(81,994)
59,222
716,581
716,581
0
587,251
349,277
237,974
129,330
25,653
1,107
24,546
66,176
39,640
38,783
64,349
3,583
0
0
79,711

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

13,187
1,477
0
0

8,151
2,853
0
0

6,088
2,321,151
0
0

10,516
2,253
0
0

472,088
472,088
0
431,535
269,434
162,101
40,553
17,899
1,077
16,823
56,215
49,868
48,450
(26,966)
0
0
0
93,278

216,630
0
11,710
73,647

199,972
0
5,298
170,658

191,617
0
(2,315,063)
154,656

262,548
0
8,263
167,255

240,911
76,069
(26,966)
224,257

318,349
54,347
60,766
154,075

0.05
2.79
3.72
0.61
0.90
89.44
4.29
2.93
15.76
6.68

0.03
7.58
1.60
0.69
0.91
86.93
5.74
1.52
9.13
3.91

0.21
8.45
16.71
0.77
0.87
86.97
6.26
1.02
7.10
3.11

0.04
7.71
1.77
0.76
0.91
86.27
3.90
1.76
10.29
4.63

0.01
10.56
0.02
0.83
0.69
91.41
20.34
-4.63
-36.37
-10.71

0.06
5.53
0.01
1.38
0.79
81.95
3.73
11.80
94.14
23.01

9,547

14,970

15,510

17,193

8,072

31,180

39,241

34,738

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

136

2.64

2.53

2.97

2.39

2.71
0.44
-5.71
0.17
-2.03
2.01

6.59
2.66
8.98
0.19
4.58
8.28

4.56
0.00
0.88
6.78

1.98
0.00
0.40
6.68

1.31
0.00
-174.39
6.24

2.33
0.00
0.62
9.16

Financial Statement Analysis of Non Financial Sector 2010

Service Fabrics Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

420,034

130,309

725,126
420,034
46,359
0

178,054
130,309
0
0

0
0
0
0

0
0
0
0

51,364
5,737
0
5,851
0
39,776
437,013
330,854
106,159
434,484

3,822
102
1,987
0
0
1,733
368,333
27,877
340,456
0

46
46
0
0
0
0
221,446
9,242
212,204
0

40
40
0
0
0
0
79,122
0
79,122
142,480

434,484
(400,099)
157,548
157,548
0
(557,647)

0
(234,202)
157,548
157,548
0
(391,750)

0
(221,400)
157,548
157,548
0
(378,948)

142,480
(221,562)
157,548
157,548
0
(379,110)

221,034
98,415
122,619
271,206

0
0
0
0

0
0
0
0

0
0
0
0

(50,172)
26,436

0
572

0
0

0
60

(Thousand Rupees)
2009
2010
0
0
0
0
0
0
0
0
39
39
0
0
0
0
221,763
142,247
79,515
0
0
0
0
0
0
(221,723)
157,548
157,548
0
(379,271)
0
(379,271)
0

0
0
0
0
0
0
0
0
39
39
0
0
0
0
221,873
142,397
79,475
0
0
0
0
0
0
(221,833)
157,548
157,548
0
(379,381)
0
(379,381)
0
0
0
0
0
0
0
0
110
0
110
0
0
0
(110)
0
0
0
(150)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(106,229)
203
0
0

1,224
0
0
0

12,802
1,817
0
0

(162)
0
0
0

0
0
0
0
0
0
0
68
0
68
0
93
91
(161)
0
0
0
(1)

34,385
0
(106,432)
330,854

(234,202)
0
1,224
27,877

(221,400)
0
10,985
9,242

(79,082)
0
(162)
0

(221,723)
0
(161)
142,247

(221,833)
0
(110)
142,397

0.03
13.70
2.65
0.47
0.12
122.70
-2.18
-22.53
26.55
-308.94

0.00

0.00

0.00

0.00

0.00

0.00
0.01

0.00
0.00

0.00
0.00

0.00
0.00

0.00
0.00

26,436

572

60

30,283

185

169

102

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-48.06
0.00
-6.76
-25.40

137

-1.57
0.40
-0.39
-1.23

-1.00
19.08
-5.62
-5.62

-1.00
-376.74
0.07
0.11

-1.00
-407.59
0.07
0.11

-1.00
-282.05
0.05
0.05

0.00
0.08
-14.87

0.00
0.70
-14.05

0.00
-0.01
-14.06

0.00
-0.01
-14.07

0.00
-0.01
-14.08

0.00

-0.77

Financial Statement Analysis of Non Financial Sector 2010

Service Industries 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

2005

2006

2007

2008

282,302

224,886

200,801

176,379

334,905
282,302
12,232
0

296,267
224,886
21,321
0

288,292
200,801
20,026
0

270,837
176,379
14,425
0

54,111
494
51,652
0
0
1,965
286,058
134,592
151,466
91,701

52,964
2,400
45,905
0
0
4,659
303,477
187,195
116,282
13,270

72,267
409
67,384
0
0
4,474
420,103
193,323
226,780
10,573

10,687
1,137
5,560
0
0
3,990
247,812
123,859
123,953
128,074

91,701
(41,346)
44,492
44,492
0
(85,838)

13,270
(38,897)
44,491
44,491
0
(83,388)

10,573
(157,608)
44,492
44,492
0
(202,100)

128,074
(188,820)
44,492
44,492
0
(233,312)

318,512
318,512
0
315,254

274,439
274,439
0
275,789

245,636
245,636
0
276,077

192,849
192,849
0
198,753

3,258
11,634

(1,350)
12,803

(30,441)
15,678

(5,904)
13,740

(Thousand Rupees)
2009
2010
160,020
0
257,431
158,332
99,098
0
0
1,688
21,317
1,203
17,265
370
0
2,479
137,992
90,310
47,682
224,181
78,077
139,640
0
2,011
4,452
(180,835)
44,492
44,492
0
(265,319)
38,250
(303,569)
39,993

405,970
580
437,789
403,415
34,392
0
0
1,976
29,898
13,857
12,444
0
0
3,598
164,995
136,958
28,037
201,777
36,261
128,071
0
1,859
35,587
69,096
44,492
44,492
0
(253,469)
38,250
(291,719)
278,073
370,869
370,869
0
339,010
244,308
94,702
31,859
10,515
525
9,990
36,316
20,622
20,518
2,855
1,828
0
0
4,930

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(18,197)
1,397
0
0

18,609
1,372
0
0

(71,897)
1,228
0
0

(36,681)
964
0
15,412

242,860
242,860
0
249,183
169,778
79,405
(6,323)
9,391
506
8,885
31,807
24,280
24,152
(36,705)
0
0
0
(36,471)

50,355
0
(19,594)
134,592

(25,627)
0
17,237
187,195

(147,035)
0
(73,125)
193,323

(60,746)
0
(37,645)
123,859

43,346
78,077
(36,705)
168,388

270,873
36,261
1,027
173,219

0.00
3.25
0.00
0.95
0.19
98.98
-9.14
-5.47
28.10
-34.49

0.01
7.27
0.00
0.99
0.17
100.49
-8.14
6.06
-46.38
150.51

0.00
10.83
0.00
0.90
0.17
112.39
-2.73
-26.10
73.18
83.28

0.00
9.41
0.00
1.03
0.04
103.06
-1.99
-15.94
21.18
35.31

0.01
10.00
0.15
1.34
0.15
102.60
-2.00
-19.93
19.86
421.88

0.08
5.56
0.00
0.85
0.18
91.41
5.31
0.93
-5.11
1.82

11,634

12,803

15,678

13,740

10,355

19,938

26,601

18,140

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

138

6.17

5.98

3.65

34.69

14.07
-0.52
-15.11
-0.10
-8.25
-40.64

29.80
1.14
0.77
0.01
0.23
15.53

-5.71
0.00
-4.40
-9.29

6.78
0.00
3.87
-8.74

-29.27
0.00
-16.44
-35.42

-19.02
0.00
-8.46
-42.44

Financial Statement Analysis of Non Financial Sector 2010

Shadab 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

2005

2006

2007

2008

197,141

274,880

310,821

287,447

346,056
197,141
14,627
0

446,807
274,880
20,676
0

467,883
310,821
26,331
0

512,262
287,447
31,233
0

129,962
4,656
68,477
27,101
0
29,728
116,788
72,722
44,066
94,607

148,965
1,096
35,559
21,331
0
90,979
142,381
90,314
52,067
141,615

94,235
1,748
67,402
67,402
0
(42,317)
156,551
77,884
78,667
135,798

173,489
768
127,325
13,119
0
32,277
215,179
120,291
94,888
133,876

94,607
115,708
30,000
30,000
0
85,708

141,615
139,849
30,000
30,000
0
109,849

135,798
112,707
30,000
30,000
0
82,707

133,876
111,881
30,000
30,000
0
81,881

563,514
563,514
0
513,120

684,367
684,367
0
612,855

705,739
701,064
4,675
654,903

868,928
868,928
0
817,939

50,394
14,579

71,512
21,270

50,836
21,468

50,989
22,343

(Thousand Rupees)
2009
2010
269,184
217
524,633
267,925
29,364
0
0
1,042
171,280
1,997
118,954
22,819
0
27,510
275,212
195,009
80,203
81,632
74,904
0
0
0
6,728
83,620
30,000
30,000
0
53,620
0
53,620
0

254,032
0
534,603
251,650
27,257
0
0
2,382
240,487
3,126
123,116
62,525
0
51,720
294,444
186,024
108,420
68,923
40,589
0
0
0
28,334
131,152
30,000
30,000
0
101,152
0
101,152
0
1,246,000
1,246,000
0
1,095,568
801,508
294,060
150,432
29,784
1,103
28,681
115,212
45,315
42,860
76,030
6,285
3,000
0
34,413

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

25,720
2,464
0
0

30,550
3,394
3,750
0

3,217
3,529
0
0

(3,147)
4,345
0
0

874,380
871,765
2,615
849,672
608,890
240,782
24,708
23,093
778
22,315
86,290
43,654
42,284
(41,867)
26
0
0
17,190

210,315
0
23,256
72,722

281,464
0
23,406
90,314

248,505
0
(312)
77,884

245,757
0
(7,492)
120,291

165,252
74,904
(41,893)
269,913

200,075
40,589
66,745
226,613

0.27
1.84
4.81
1.72
1.11
91.06
1.83
8.16
24.61
13.91

0.16
2.95
3.12
1.61
1.05
89.55
2.03
8.14
23.91
12.42
7.24
19.25

0.44
3.77
9.55
1.74
0.60
92.80
2.59
0.78
2.55
1.21

0.06
3.70
1.51
1.89
0.81
94.13
3.12
-0.73
-2.80
-1.27

0.09
4.99
2.61
1.99
0.62
97.17
4.27
-9.29
-42.83
-20.37

0.22
3.64
5.02
2.52
0.82
87.93
2.77
16.26
70.80
41.62
23.25
10.12
2.77
6.10
0.09
23.25
43.72

14,579

21,270

21,468

22,343

10,346

20,215

26,622

32,127

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

8.23

139

10.47

6.82

7.35
0.01
-4.79
0.05
-13.96
27.87

4.56
0.00
7.75
38.57

4.46
0.00
9.05
46.62

0.46
0.00
-0.10
37.57

-0.36
0.00
-2.50
37.29

Financial Statement Analysis of Non Financial Sector 2010

Shadman Cotton 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

2005

2006

2007

2008

901,450

974,628

907,584

961,358

1,586,202
901,450
63,760
0

1,747,310
974,628
88,152
0

1,771,012
907,584
94,197
0

1,847,090
961,358
89,413
0

1,081,272
20,305
713,595
249,258
0
98,114
1,077,374
963,966
113,408
459,571

908,067
7,643
596,315
247,904
0
56,205
1,141,595
960,072
181,523
295,607

916,109
7,217
450,776
303,394
0
154,722
1,231,954
909,827
322,127
309,248

1,268,913
5,350
855,102
232,787
0
175,674
1,623,985
1,251,954
372,031
397,830

459,571
445,777
176,367
176,367
0
269,410

295,607
445,493
176,367
176,367
0
269,126

309,248
282,491
176,367
176,367
0
106,124

397,830
208,456
176,367
176,367
0
32,089

1,970,950
1,530,634
440,316
1,833,247

2,464,021
1,640,117
823,904
2,251,634

2,389,606
1,704,454
685,152
2,247,221

2,904,668
2,348,411
556,257
2,735,098

137,703
46,509

212,387
61,502

142,385
66,864

169,570
71,158

(Thousand Rupees)
2009
2010
1,610,860
4,201
2,628,853
1,594,158
79,848
0
0
12,501
1,089,139
14,326
626,852
276,269
0
171,692
1,579,479
1,246,692
332,788
538,911
251,744
58,183
0
21,141
207,844
581,609
176,367
176,367
0
(96,719)
53,219
(149,938)
501,960

1,566,340
18,968
2,651,235
1,537,151
87,007
0
0
10,221
1,012,625
30,170
466,484
326,459
0
189,512
1,477,677
1,078,172
399,505
399,575
99,654
75,242
0
19,418
205,261
701,714
176,367
176,367
0
27,823
53,219
(25,396)
497,524
4,292,241
3,097,468
1,194,773
3,812,796
2,657,414
1,155,382
479,445
161,304
45,930
115,374
272,662
191,702
185,939
135,120
25,598
8,818
0
351,119

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

17,998
8,774
0
0

9,673
12,705
0
0

(77,404)
12,155
0
0

(59,504)
14,401
0
0

3,215,227
2,523,680
691,547
3,070,481
2,488,833
581,648
144,746
84,587
45,805
38,782
234,114
253,392
232,011
(188,111)
6,849
0
0
212,543

905,348
0
9,224
963,966

741,100
0
(3,032)
960,072

591,739
0
(89,559)
909,827

606,286
0
(73,905)
1,251,954

1,120,520
251,744
(194,960)
1,498,436

1,101,288
99,654
100,704
1,177,826

0.25
3.83
12.65
0.99
1.00
93.01
3.45
0.90
4.11
2.04

0.22
5.77
10.06
1.31
0.80
91.38
3.23
0.50
2.17
1.18

0.25
6.59
12.70
1.31
0.74
94.04
5.46
-4.18
-21.27
-11.61

0.15
5.57
8.01
1.30
0.78
94.16
9.70
-2.94
-24.24
-9.93

0.18
7.88
8.59
1.19
0.69
95.50
3.64
-7.63
-47.62
-21.79

0.24
4.47
7.61
1.66
0.69
88.83
2.68
5.12
21.06
12.16
12.42
9.20
1.73
3.15
0.19
6.21
39.79

46,509

61,502

66,864

71,158

75,391

142,156

157,486

161,762

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

140

2.76

4.13

5.30

3.40

5.13
0.19
-5.85
0.10
-11.05
32.98

0.91
0.00
0.52
25.28

0.39
0.00
-0.17
25.26

-3.24
0.00
-5.08
16.02

-2.05
0.00
-4.19
11.82

Financial Statement Analysis of Non Financial Sector 2010

Shaheen Cotton 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

2005

2006

2007

2008

528,298

516,139

491,791

529,292

916,073
528,298
20,740
0

929,981
516,139
27,061
0

931,926
491,791
26,302
0

993,985
529,292
25,179
0

245,539
6,086
113,336
6,029
81,007
39,081
334,548
143,292
191,256
62,516

256,113
11,496
152,380
9,499
58,083
24,655
334,642
166,573
168,069
50,111

172,487
14,448
75,497
2,070
47,459
33,013
377,836
85,657
292,179
32,177

288,788
11,173
189,093
5,871
54,829
27,822
419,268
14,767
404,501
117,817

62,516
376,773
147,293
147,293
0
229,480

50,111
387,499
147,293
147,293
0
240,206

32,177
254,265
147,293
147,293
0
106,972

117,817
280,995
147,293
147,293
0
133,702

706,782
489,618
217,164
639,812

890,309
590,532
299,777
813,992

935,472
619,159
316,313
877,565

1,054,235
700,708
353,527
1,023,775

66,970
34,561

76,317
41,181

57,907
41,481

30,460
37,612

(Thousand Rupees)
2009
2010
517,063
224
991,557
504,871
23,848
0
11,600
368
115,385
1,383
76,147
2,726
5,220
29,909
185,127
83,235
101,892
272,804
49,264
131,600
0
6,247
85,693
174,519
147,293
147,293
0
(220,748)
0
(220,748)
247,973

517,063
224
991,557
504,871
23,848
0
11,600
368
115,385
1,383
76,147
2,726
5,220
29,909
185,127
83,235
101,892
272,804
49,264
131,600
0
6,247
85,693
174,519
147,293
147,293
0
(220,748)
0
(220,748)
247,973
825,316
311,190
514,126
804,664
594,091
210,573
20,652
84,037
15,632
68,405
68,532
48,880
28,341
(111,643)
5,141
0
0
70,755

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

11,867
3,242
0
0

3,177
4,452
0
0

(11,859)
4,677
0
0

(38,912)
5,271
0
0

825,316
311,190
514,126
804,664
594,091
210,573
20,652
84,037
15,632
68,405
68,532
48,880
28,341
(111,643)
5,141
0
0
70,755

439,289
0
8,625
143,292

437,610
0
(1,275)
166,573

286,442
0
(16,536)
85,657

398,812
0
(44,183)
14,767

447,322
49,264
(116,784)
132,499

447,322
49,264
(116,784)
132,499

0.28
3.08
0.85
0.91
0.73
90.52
1.05
1.67
3.44
3.04

0.24
4.25
1.07
1.15
0.77
91.43
0.99
0.41
0.83
0.72

0.17
3.18
0.22
1.41
0.46
93.81
1.61
-1.65
-3.70
-3.28

0.17
3.02
0.56
1.29
0.69
97.11
1.91
-5.25
-14.54
-11.36

0.05
5.92
0.33
1.30
0.62
97.50
2.62
-15.39
-49.02
-26.39

0.05
5.92
0.33
1.30
0.62
97.50
2.62
-17.65
-63.97
-24.96

34,561

41,181

41,481

37,612

21,758

37,823

29,724

31,874

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

141

6.24

5.84

12.39

5.58

10.84
-2.94
-13.53
0.15
-7.93
11.85

10.84
-2.94
-13.53
0.15
-7.93
11.85

1.68
0.00
0.59
25.58

0.36
0.00
-0.09
26.31

-1.27
0.00
-1.12
17.26

-3.69
0.00
-3.00
19.08

Financial Statement Analysis of Non Financial Sector 2010

Shahpur 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

2005

2006

2007

2008

405,084

(Thousand Rupees)
2009
2010

816,125
405,084
467,598
0

405,084
0
816,125
405,084
467,598
0

405,084
0
816,125
405,084
467,598
0

71,425
30
43,445
1,210
0
26,740
452,589
171,994
280,595
35,968

71,425
30
43,445
1,210
0
26,740
452,589
171,994
280,595
35,968

71,425
30
43,445
1,210
0
26,740
452,589
171,994
280,595
35,968

35,968
(12,048)
139,804
139,804
0
(151,852)

35,968
(12,048)
139,804
139,804
0
(151,852)

35,968
(12,048)
139,804
139,804
0
(151,852)

300,585
300,585
0
329,720

300,585
300,585
0
329,720

300,585
300,585
0
329,720

(29,135)
12,302

(29,135)
12,302

(29,135)
12,302

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

12,302

12,302

12,302

37,532

37,532

37,532

10,124
0
0
0

(78,969)
2,896
0
0

(78,969)
2,896
0
0

23,920
0
10,124
171,994

23,920
0
(81,865)
171,994

23,920
0
(81,865)
171,994

0.00
12.49
0.40
0.63
0.16
109.69
-40.55
2.12
-84.03
42.32

0.00
12.49
0.40
0.63
0.16
109.69
-40.55
-16.57
655.45
-330.14

0.00
12.49
0.40
0.63
0.16
109.69
-40.55
-16.57
655.45
-330.14

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

142

6.92

6.92

6.92

3.37
0.00
0.72
-0.86

-26.27
0.00
-5.86
-0.86

-26.27
0.00
-5.86
-0.86

Financial Statement Analysis of Non Financial Sector 2010

Shahtaj Textile Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

710,359

754,250

717,543

758,279

1,061,504
710,359
56,970
0

1,179,132
754,250
73,956
0

1,187,187
717,543
75,676
0

918,434
758,279
70,478
0

401,924
6,004
136,071
204,443
0
55,406
385,001
316,579
68,422
241,842

467,692
11,542
130,427
236,656
0
89,067
601,440
372,963
228,477
220,000

568,745
15,254
153,020
337,885
0
62,586
524,665
353,782
170,883
346,067

746,926
35,165
183,970
460,627
0
67,164
735,701
527,686
208,015
400,493

241,842
485,440
96,600
96,600
0
388,840

220,000
400,502
96,600
96,600
0
303,902

346,067
415,556
96,600
96,600
0
318,956

400,493
369,011
96,600
96,600
0
272,411

1,195,933
663,428
532,505
1,126,550

1,568,323
307,821
1,260,502
1,401,952

1,752,597
106,158
1,646,439
1,592,446

1,984,070
178,620
1,805,450
1,854,935

69,383
38,276

166,371
61,185

160,151
64,720

129,135
62,815

(Thousand Rupees)
2009
2010
699,385
13,857
1,244,002
682,704
75,754
0
0
2,823
747,906
3,208
174,014
512,401
0
58,284
654,795
415,597
239,198
393,308
256,740
0
0
20,823
115,745
399,189
96,600
96,600
0
243,308
0
243,308
59,281

689,140
32,759
1,282,976
652,412
69,266
0
0
3,969
866,122
7,592
226,846
56,701
0
574,983
780,649
497,882
282,767
286,687
154,492
0
0
24,810
107,386
487,926
96,600
96,600
0
337,738
0
337,738
53,589
2,829,226
981,950
1,847,276
2,495,480
2,139,312
356,168
333,746
138,698
16,509
122,189
113,133
81,831
72,088
133,328
39,653
43,470
0
102,027

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,565
5,490
6,300
12,600

57,381
8,274
19,320
0

38,488
9,936
0
0

15,594
12,136
0
0

2,424,338
188,292
2,236,046
2,153,858
1,794,021
359,837
270,480
142,138
26,128
116,009
107,972
102,803
87,511
50,433
16,778
19,320
0
187,499

727,282
0
(8,225)
316,579

620,502
0
29,787
372,963

761,623
0
28,552
353,782

769,504
0
3,458
527,686

792,496
256,740
14,335
672,336

774,613
154,492
50,205
652,374

0.55
2.82
17.09
1.08
1.04
94.20
1.29
0.31
0.73
0.47
-0.31
8.79

0.41
3.73
15.09
1.28
0.78
89.39
2.05
4.92
12.95
8.51
2.54
12.02

0.67
3.84
19.28
1.36
1.08
90.86
2.10
3.07
9.43
5.57

0.67
3.39
23.22
1.32
1.02
93.49
3.08
1.12
3.98
2.04

0.79
4.24
21.14
1.68
1.14
88.84
2.63
3.42
13.13
6.46
1.74
13.93
1.58
2.08
0.18
3.48
41.32

0.08
2.89
2.00
1.82
1.11
88.20
2.19
8.88
30.06
17.02
2.15
12.47
2.85
4.71
0.10
9.70
50.51

38,276

61,185

64,720

62,815

33,668

58,442

67,387

67,223

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

143

11.45

10.78

0.30
0.00
-0.20
50.25

3.66
0.00
5.08
41.46

2.20
0.00
2.96
43.02

0.79
0.00
0.36
38.20

Financial Statement Analysis of Non Financial Sector 2010

Shahzad 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

2005

2006

2007

2008

613,651

741,568

741,568

809,508

1,005,376
613,651
23,802
0

1,158,083
741,568
35,609
0

1,158,083
741,568
35,609
0

1,273,018
809,508
34,172
0

326,739
2,317
97,577
20,900
35,141
170,804
206,990
143,127
63,863
226,009

310,944
2,917
103,172
23,239
8,243
173,373
340,722
174,471
166,251
275,342

310,944
2,917
103,172
23,239
8,243
173,373
340,722
174,471
166,251
275,342

337,342
4,480
145,633
15,610
13,400
158,219
403,904
117,476
286,428
238,026

226,009
507,391
135,526
135,526
0
371,865

275,342
436,448
135,526
135,526
0
300,922

275,342
436,448
135,526
135,526
0
300,922

238,026
504,920
135,526
135,526
0
369,394

742,985
450,418
292,567
679,185

921,002
694,349
226,653
815,692

921,002
694,349
226,653
815,692

1,206,388
840,642
365,746
1,154,281

63,800
43,160

105,310
49,990

105,310
49,990

52,107
47,801

(Thousand Rupees)
2009
2010
1,409,048
20,704
2,265,176
1,265,795
58,961
0
122,073
477
266,197
5,299
166,695
16,873
384
76,946
326,444
177,254
149,190
549,935
313,664
20,977
0
17,228
198,066
798,868
135,526
135,526
0
151,901
49,984
101,917
511,441

1,472,056
22,837
1,338,845
1,267,476
57,124
0
180,110
1,633
385,635
21,446
195,229
53,848
453
114,659
367,594
201,402
166,192
508,724
240,273
42,477
0
21,914
204,060
981,374
135,526
135,526
0
313,954
49,984
263,970
531,894
3,116,385
2,171,890
944,494
2,769,740
2,185,317
584,424
346,644
120,623
41,627
78,996
265,396
80,413
76,442
164,838
20,422
6,776
0
115,943

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

6,853
3,513
0
0

29,178
4,605
0
0

29,178
4,605
0
0

4,178
6,030
0
0

2,223,397
1,447,248
776,149
2,098,181
1,554,661
543,520
125,216
131,892
35,086
96,806
190,264
77,878
75,292
(55,491)
7,761
0
0
200,009

733,400
0
3,340
143,127

711,790
0
24,573
174,471

711,790
0
24,573
174,471

742,946
0
(1,852)
117,476

1,348,802
313,664
(63,253)
490,918

1,490,098
240,273
137,640
441,675

0.28
2.39
2.81
0.79
1.58
91.41
0.85
0.76
1.36
0.96

0.10
4.24
2.52
0.88
0.91
88.57
1.41
2.93
6.18
4.04

0.10
4.24
2.52
0.88
0.91
88.57
1.41
2.77
6.69
4.10

0.08
3.55
1.29
1.05
0.84
95.68
1.27
0.38
0.89
0.57

0.07
3.50
0.76
1.33
0.82
94.37
1.10
-3.93
-8.51
-5.31

0.21
2.58
1.73
1.68
1.05
88.88
0.89
9.33
18.52
11.61
21.31
15.96
3.16
5.29
0.13
10.66
72.41

43,160

49,990

49,990

47,801

17,753

39,078

39,078

42,813

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

144

7.61

8.93

8.93

8.28

13.34
0.26
-2.50
0.23
-4.67
58.95

0.92
0.00
0.25
37.44

3.17
0.00
1.81
32.20

3.17
0.00
1.81
32.20

0.35
0.00
-0.14
37.26

Financial Statement Analysis of Non Financial Sector 2010

Shams 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

2005

2006

2007

2008

578,519

1,105,593

1,071,050

985,075

958,722
578,519
33,297
0

1,537,355
1,105,593
55,628
0

1,542,589
1,071,050
108,361
0

1,533,242
985,075
98,113
0

520,203
8,360
123,020
69,731
274,988
44,104
348,826
253,678
95,148
207,710

554,426
13,684
142,737
118,937
204,666
74,402
627,961
466,915
161,046
528,696

803,472
217
211,929
161,056
0
430,270
829,504
458,823
370,681
403,137

751,621
13,962
346,223
203,324
0
188,112
897,859
605,343
292,516
327,930

207,710
542,186
86,400
86,400
0
455,786

528,696
503,362
86,400
86,400
0
416,962

403,137
641,881
86,400
86,400
0
555,481

327,930
510,907
86,400
86,400
0
424,507

1,109,319
1,017,088
92,231
978,614

1,559,599
1,360,579
199,020
1,411,674

2,206,713
1,661,066
545,647
2,093,735

2,316,456
1,912,098
404,358
2,205,846

130,705
36,671

147,925
47,745

112,978
70,185

110,610
83,667

(Thousand Rupees)
2009
2010
916,354
37,659
1,538,039
877,084
90,143
0
0
1,611
719,620
14,338
289,186
277,081
29,236
109,779
990,746
677,726
313,020
246,642
206,933
39,709
0
0
0
398,586
86,400
86,400
0
312,186
73,192
238,994
0

850,086
39,435
1,550,545
809,040
82,763
0
0
1,611
679,471
13,735
300,483
204,002
27,278
133,973
886,559
599,735
286,824
98,264
84,633
0
0
0
13,631
544,734
86,400
86,400
0
458,334
88,563
369,771
0
3,351,493
2,561,903
789,590
2,942,753
2,403,229
539,524
408,740
134,682
68,192
66,490
212,762
114,709
107,585
165,296
20,980
17,280
0
266,640

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

76,051
5,263
15,120
0

49,991
8,592
15,120
0

203,238
11,329
0
0

(28,016)
11,650
0
0

2,700,814
2,284,774
416,040
2,563,658
1,946,360
617,298
137,156
131,838
43,416
88,422
173,001
128,044
123,675
(116,939)
4,162
0
0
45,939

749,896
0
55,668
253,678

1,032,058
0
26,279
466,915

1,045,018
0
191,909
458,823

838,837
0
(39,666)
605,343

645,228
206,933
(121,101)
884,659

642,998
84,633
127,036
684,368

1.01
2.24
6.29
1.01
1.49
88.22
1.03
7.23
14.46
10.39
4.68
9.02

0.54
4.19
7.63
0.94
0.88
90.52
2.30
3.62
9.56
5.61
2.74
10.93

0.19
5.33
7.30
1.18
0.97
94.88
1.92
11.50
35.49
19.57

0.24
3.96
8.78
1.33
0.84
95.23
2.40
-1.55
-4.86
-2.97

0.32
4.74
10.26
1.65
0.73
94.92
3.10
-6.93
-25.72
-15.76

0.28
3.42
6.09
2.19
0.77
87.80
1.81
10.44
35.05
25.66
8.35
11.15
2.54
4.93
0.27
16.70
63.05

36,671

47,745

70,185

83,667

24,802

65,294

117,682

91,643

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

145

10.41

6.69

9.34
0.05
-4.33
0.04
-14.02
46.13

6.86
0.00
8.19
62.75

3.21
0.00
4.79
58.26

9.21
0.00
22.21
74.29

-1.21
0.00
-4.59
59.13

Financial Statement Analysis of Non Financial Sector 2010

Sind Fine 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

2005

2006

2007

2008

26,928

2,682

2,501

2,289

49,329
26,928
2,162
0

14,368
2,682
249
0

14,380
2,501
230
0

14,380
2,289
212
0

7,233
634
0
0
0
6,599
30,414
18,733
11,681
5,798

3,675
246
0
0
0
3,429
18,114
1,250
16,864
0

3,725
249
0
0
0
3,476
18,072
0
18,072
0

690
247
0
0
0
443
16,295
0
16,295
0

5,798
(2,051)
34,253
34,253
0
(36,304)

0
(11,757)
34,252
34,252
0
(46,009)

0
(11,846)
34,252
34,252
0
(46,098)

0
(13,316)
34,252
28,294
5,958
(47,568)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
4,147

0
9,991

0
1,571

0
3,083

(Thousand Rupees)
2009
2010
2,153
0
14,380
2,099
190
0
0
55
519
166
0
0
0
353
16,343
0
16,343
0
0
0
0
0
0
(13,671)
34,253
34,253
0
(47,923)
34
(47,957)
0

1,973
0
14,180
1,918
170
0
0
55
356
185
0
0
0
171
5,512
0
5,512
0
0
0
0
0
0
(3,184)
34,253
34,253
0
(37,436)
34
(37,470)
0
0
0
0
1,367
0
1,367
(1,367)
933
0
933
997
11
0
10,626
103
0
0
10,626

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

14,979
194
0
0

(9,180)
158
0
0

(178)
69
0
0

(1,388)
82
0
0

0
0
0
1,309
0
1,309
(1,309)
287
0
287
838
43
0
(286)
68
0
0
(287)

3,747
0
14,785
18,733

(11,757)
0
(9,338)
1,250

(11,846)
0
(247)
0

(13,316)
0
(1,470)
0

(13,671)
0
(354)
0

(3,184)
0
10,523
0

0.02

0.01

0.01

0.02

0.01

0.03

0.00
0.24

0.00
0.20

0.00
0.21

0.00
0.04

0.00
0.03

0.00
0.06

4,147

9,991

1,571

3,083

1,104

594

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

146

-17.66
25.91
-52.48
-101.69

-1.54
-45.31
132.97
229.21

-1.53
-2.83
1.51
1.51

-1.22
-30.16
11.03
11.03

-1.20
-10.13
2.12
2.12

-1.73
425.00
-126.09
-126.09

0.00
4.32
-0.60

0.00
-2.73
-3.43

0.00
-0.07
-3.46

0.00
-0.52
-4.71

-0.02
-0.10
-3.99

1.93
3.07
-0.93

Financial Statement Analysis of Non Financial Sector 2010

Sunrays 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

2005

2006

2007

2008

644,397

746,599

939,605

916,580

920,466
644,397
43,029
0

1,077,162
746,599
70,482
0

1,355,335
939,605
77,655
0

1,419,674
916,580
89,797
0

680,357
45,223
493,679
83,493
2,342
55,620
608,612
535,277
73,335
254,591

622,308
37,113
381,341
81,292
2,342
120,220
672,829
530,529
142,300
271,523

620,464
15,119
400,505
106,031
2,342
96,467
1,491,069
428,060
1,063,009
0

1,180,399
25,295
937,918
134,975
2,342
79,869
1,266,922
864,399
402,523
414,319

254,591
461,551
69,000
69,000
0
392,551

271,523
424,555
69,000
69,000
0
355,555

0
69,000
69,000
69,000
0
0

414,319
415,738
69,000
69,000
0
346,738

1,000,449
458,170
542,279
838,081

1,626,907
1,433,317
193,590
1,488,113

1,704,367
1,338,870
365,497
1,572,173

1,902,090
1,658,395
243,695
1,723,301

162,368
45,466

138,794
39,492

132,194
50,343

178,789
52,776

(Thousand Rupees)
2009
2010
894,123
0
1,477,625
886,668
86,286
0
2,342
5,113
915,113
36,145
495,154
309,278
0
74,536
855,253
725,683
129,569
302,610
210,191
0
0
7,619
84,800
651,374
69,000
69,000
0
410,401
3,600
406,801
171,973

865,941
0
1,515,615
858,486
82,135
0
2,342
5,113
832,088
11,711
320,286
361,352
0
138,739
522,964
338,838
184,127
185,184
106,306
0
0
6,274
72,604
989,881
69,000
69,000
0
752,181
3,600
748,581
168,700
2,968,382
513,372
2,455,009
2,369,067
1,902,623
466,444
599,315
124,261
50,862
73,399
156,496
120,671
118,045
361,723
28,511
20,700
0
528,100

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

84,404
7,042
6,900
0

28,600
8,135
0
0

16,080
227
0
0

19,696
9,510
0
0

2,197,384
1,614,649
582,736
1,959,896
1,549,319
410,576
237,489
74,555
30,320
44,234
123,202
108,394
106,354
73,996
15,458
6,900
0
435,556

716,142
0
70,462
535,277

696,078
0
20,465
530,529

69,000
0
15,853
428,060

830,057
0
10,186
864,399

953,983
210,191
51,639
935,874

1,175,065
106,306
312,512
445,144

0.22
3.38
8.35
0.76
1.12
83.77
1.87
7.71
19.74
13.34
11.21
2.03

0.18
4.70
5.00
1.19
0.92
91.47
2.22
2.12
6.46
4.05

0.08
5.10
6.22
1.09
0.42
92.24
21.61
1.10
6.52
4.20

0.13
5.59
7.10
0.91
0.93
90.60
4.04
1.08
8.13
4.38

0.40
4.93
14.07
1.21
1.07
89.19
1.78
3.79
13.87
8.30
8.48
4.44
1.70
3.37
0.38
8.48
94.40

0.71
4.07
12.17
1.75
1.59
79.81
0.72
20.63
44.08
33.98
16.10
9.27
4.06
12.19
0.75
48.29
143.46

45,466

39,492

50,343

52,776

33,822

76,515

86,905

106,390

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

147

4.27

4.26

2.03

8.44
0.00
11.21
66.89

1.76
0.00
2.97
61.53

0.94
0.00
2.30
10.00

1.04
0.00
1.48
60.25

Financial Statement Analysis of Non Financial Sector 2010

Suraj Cotton 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

2005

2006

2007

2008

1,490,056

2,335,157

2,232,838

2,291,150

2,487,042
1,490,056
116,680
0

3,395,090
2,335,157
186,519
0

3,450,968
2,232,838
242,532
0

3,717,206
2,291,150
234,691
0

1,146,384
55,212
472,995
230,240
255,003
132,934
938,226
737,819
200,407
561,332

1,103,499
53,714
367,300
281,873
192,341
208,271
1,291,362
858,031
433,331
1,009,468

1,347,205
372,068
404,388
320,947
7,128
242,674
1,642,365
871,003
771,362
571,912

1,417,080
5,666
885,973
281,941
5,172
238,328
1,466,187
881,833
584,354
837,082

561,332
1,136,882
180,000
180,000
0
956,882

1,009,468
1,137,826
180,000
180,000
0
957,826

571,912
1,365,766
180,000
180,000
0
1,185,766

837,082
1,404,961
180,000
180,000
0
1,224,961

2,608,046
1,973,202
634,844
2,300,101

3,721,723
2,435,839
1,285,884
3,301,052

4,128,217
2,804,009
1,324,208
3,701,852

4,130,287
2,962,861
1,167,426
3,728,406

307,945
70,548

420,671
142,267

426,365
123,537

401,881
140,997

(Thousand Rupees)
2009
2010
2,127,348
29,595
3,774,179
2,081,859
224,540
0
21
15,873
1,223,109
13,543
711,286
285,817
52,345
160,118
1,289,875
836,907
452,968
666,067
537,639
0
0
0
128,428
1,394,515
180,000
180,000
0
1,214,515
17,070
1,197,445
0

1,995,477
35,723
3,833,740
1,936,231
206,529
0
17
23,506
1,634,455
22,241
1,027,331
360,603
58,692
165,588
1,124,073
638,605
485,468
627,935
416,957
0
0
0
210,978
1,877,924
180,000
180,000
0
1,697,924
22,376
1,675,548
0
6,896,059
5,357,415
1,538,644
5,751,905
4,291,238
1,460,667
1,144,154
266,518
135,003
131,515
392,072
196,239
177,817
698,083
110,430
90,000
0
400,675

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

176,363
14,961
36,000
0

161,048
19,314
36,000
0

377,628
20,968
0
0

156,005
20,809
27,000
600

4,790,418
3,646,857
1,143,561
4,235,024
3,186,208
1,048,816
555,394
258,486
112,460
146,026
324,804
232,856
225,890
73,458
11,751
27,000
0
534,056

1,698,214
0
125,402
737,819

2,147,294
0
105,734
858,031

1,937,678
0
356,660
871,003

2,242,043
0
108,196
881,833

2,060,582
537,639
34,707
1,374,546

2,505,859
416,957
497,653
1,055,562

0.58
2.58
8.83
0.99
1.22
88.19
1.32
6.84
16.96
10.71
4.48
5.51

0.41
3.63
7.57
1.08
0.85
88.70
2.02
5.30
14.16
8.38
3.94
10.13

0.43
4.26
7.77
1.15
0.82
89.67
1.62
10.76
30.17
18.49

0.20
4.15
6.83
1.11
0.97
90.27
1.64
4.28
11.26
7.46
5.01
4.66

0.27
4.86
5.97
1.43
0.95
88.41
1.40
2.08
5.25
3.41
2.29
6.73
1.33
1.53
0.27
3.43
77.47

0.39
2.85
5.23
1.90
1.45
83.41
0.93
20.00
42.66
30.57
6.53
6.71
4.93
10.12
0.23
32.65
104.33

70,548

142,267

123,537

140,997

67,368

135,053

175,722

171,537

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

148

10.21

6.76
0.00
8.97
63.16

4.33
0.00
7.87
63.21

9.15
0.00
19.81
75.88

3.78
0.00
7.51
78.05

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

171,966

203,578

206,052

186,619

284,245
170,895
9,333
1,071

328,689
203,578
11,761
0

336,080
206,052
15,460
0

339,356
186,619
16,065
0

204,078
2,120
170,674
22,245
0
9,039
133,492
93,636
39,856
93,166

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

207,190
3,152
119,324
39,156
0
45,558
301,543
142,546
158,997
0

260,871
5,939
27,844
29,343
0
197,745
252,382
152,401
99,981
116,569

93,166
149,386
40,500
40,500
0
108,886

91,304
161,946
40,500
40,500
0
121,446

0
111,699
40,500
40,500
0
71,199

116,569
78,539
40,500
40,500
0
38,039

154,986
132,429
22,557
149,222

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

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

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

5,764
2,664

51,385
7,400

26,161
9,922

734
4,985

(Thousand Rupees)
2009
2010
188,982
0
339,356
183,458
3,884
0
0
5,524
85,260
3,184
22,006
29,253
0
30,817
144,271
105,345
38,927
79,411
49,521
21,489
0
1,873
6,529
50,559
40,500
40,500
0
(17,357)
0
(17,357)
27,416

187,550
0
339,356
182,026
1,432
0
0
5,524
70,273
2,341
12,784
30,476
0
24,672
144,353
101,133
43,220
77,843
48,118
21,181
0
1,873
6,671
35,627
40,500
40,500
0
(32,407)
0
(32,407)
27,535
11,222
11,222
0
14,425
0
14,425
(3,203)
2,760
0
2,760
3,373
8,770
8,769
(14,733)
56
0
0
5,131

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,540
702
0
0

16,074
2,780
0
0

(16,881)
2,081
0
0

(31,724)
1,156
0
0

2,954
2,954
0
13,395
4,838
8,557
(10,441)
1,730
0
1,730
2,069
18,945
18,941
(31,116)
0
0
0
157,573

242,552
0
4,838
93,636

253,250
0
13,294
144,533

111,699
0
(18,962)
142,546

195,108
0
(32,880)
152,401

129,970
49,521
(31,116)
154,866

113,470
48,118
(14,789)
149,251

0.18
4.94
14.35
0.41
1.53
96.28
1.52
1.63
3.69
2.60

0.16
5.84
4.84
1.15
1.31
89.25
1.56
4.06
10.33
6.48

0.14
7.96
9.41
1.01
0.69
93.72
2.70
-4.08
-12.34
-9.25

0.14
11.88
12.69
0.52
1.03
99.68
4.70
-7.37
-33.35
-20.68

0.22
641.33
990.29
0.01
0.59
453.45
4.42
-8.62
-48.20
-19.14

0.23
78.15
271.57
0.04
0.49
128.54
6.24
-5.54
-34.19
-12.10

2,664

7,400

9,922

4,985

7,664

27,911

33,120

27,473

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

149

0.91

2.87

3.49

8.31

0.13
-0.64
-1,053.34
0.70
-7.68
12.48

0.88
-0.68
-131.29
0.02
-3.65
8.80

3.57
0.00
1.19
36.89

3.36
0.00
3.28
39.99

-4.05
0.00
-4.68
27.58

-13.72
0.00
-8.12
19.39

Financial Statement Analysis of Non Financial Sector 2010

Taj 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

2005

2006

2007

2008

1,046,544

933,715

933,715

639,962

1,290,475
858,469
66,947
188,075

1,296,345
782,065
82,906
151,650

1,296,345
782,065
82,906
151,650

860,689
9,773
299,170
274,848
5,083
271,815
805,654
422,278
383,376
1,025,310

(Thousand Rupees)
2009
2010

1,289,493
639,962
67,278
0

639,962
0
1,289,493
639,962
67,278
0

639,962
0
1,289,493
639,962
67,278
0

709,396
10,294
224,593
240,722
4,363
229,424
797,980
401,753
396,227
1,003,689

709,396
10,294
224,593
240,722
4,363
229,424
797,980
401,753
396,227
1,003,689

591,782
7,232
114,041
269,917
3,088
197,504
1,150,159
92,735
1,057,424
695,648

591,782
7,232
114,041
269,917
3,088
197,504
1,150,159
92,735
1,057,424
695,648

591,782
7,232
114,041
269,917
3,088
197,504
1,150,159
92,735
1,057,424
695,648

1,025,310
76,269
334,420
334,420
0
(258,151)

1,003,689
(158,558)
334,420
334,420
0
(492,978)

1,003,689
(158,558)
334,420
334,420
0
(492,978)

695,648
(614,063)
334,420
334,420
0
(948,483)

695,648
(614,063)
334,420
334,420
0
(948,483)

695,648
(614,063)
334,420
334,420
0
(948,483)

1,037,240
980,840
56,400
1,069,580

1,189,503
1,180,648
8,855
1,258,826

1,189,503
1,180,648
8,855
1,258,826

43,707
43,707
0
56,415

43,707
43,707
0
56,415

43,707
43,707
0
56,415

(32,340)
65,208

(69,323)
88,972

(69,323)
88,972

(12,708)
220,637

(12,708)
220,637

(12,708)
220,637

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

65,208

88,972

88,972

220,637

220,637

220,637

62,904

62,102

62,102

124

124

124

(160,452)
5,377
0
0

(220,411)
5,919
0
0

(220,411)
5,919
0
0

(49,648)
240
0
0

(233,469)
240
0
0

(233,469)
240
0
0

1,101,579
0
(165,829)
422,278

845,131
0
(226,330)
401,753

845,131
0
(226,330)
401,753

81,585
0
(49,888)
92,735

81,585
0
(233,709)
92,735

81,585
0
(233,709)
92,735

0.36
6.06
26.50
0.54
1.07
103.12
24.01
-8.16
-101.37
-13.05

0.32
5.22
20.24
0.72
0.89
105.83
-11.36
-12.42
535.70
-22.64

0.32
5.22
20.24
0.72
0.89
105.83
-11.36
-13.41
139.01
-26.08

0.24
0.28
617.56
0.04
0.51
129.08
-3.01
-3.45
12.85
-10.71

0.24
0.28
617.56
0.04
0.51
129.08
-3.01
-18.95
38.02
-286.17

0.24
0.28
617.56
0.04
0.51
129.08
-3.01
-18.95
38.02
-286.17

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

150

3.47

5.30

5.30

0.38

0.38

0.38

-15.47
0.00
-4.96
2.28

-18.53
0.00
-6.77
-4.74

-18.53
0.00
-6.77
-4.74

-113.59
0.00

-534.17
0.00
-6.99
-18.36

-534.17
0.00
-6.99
-18.36

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,447,166

1,495,267

1,405,254

2,318,568

1,617,160
1,447,166
80,570
0

1,826,995
1,495,267
165,230
0

1,829,834
1,405,254
108,002
0

2,433,224
2,318,568
102,450
0

991,545
78,145
656,640
144,984
3,274
108,502
985,134
793,703
191,431
874,277

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

1,203,294
132,989
775,946
117,798
0
176,561
1,108,923
795,652
313,271
897,781

1,823,650
55,623
1,421,759
200,297
0
145,971
1,855,499
1,580,324
275,175
839,839

874,277
579,300
173,248
173,248
0
406,052

746,889
606,084
173,248
173,248
0
432,836

897,781
601,844
173,247
173,247
0
428,597

839,839
1,446,880
173,247
173,247
0
1,273,633

1,129,941
155,814
974,127
912,299

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

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

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

217,642
73,351

370,021
123,244

432,691
164,540

424,827
189,670

(Thousand Rupees)
2009
2010
2,330,993
2,639
2,554,558
2,327,780
118,940
0
0
574
1,452,118
41,044
1,159,838
142,257
0
108,979
1,957,621
1,424,688
532,933
608,495
467,995
25,000
0
18,580
96,920
1,216,995
173,248
173,248
0
117,405
0
117,405
926,342

2,222,732
2,415
2,565,698
2,219,711
118,830
0
0
606
1,416,780
53,470
1,019,574
190,017
0
153,719
1,590,614
1,306,248
284,366
326,811
277,315
25,000
0
22,793
1,703
1,722,087
173,248
173,248
0
604,190
0
604,190
944,650
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
0
333,001

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

80,740
11,246
0
22,598

67,334
26,966
17,325
0

81,560
32,219
0
0

27,677
19,109
0
0

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
(217,729)
22,856
0
0
563,269

1,453,577
0
69,494
793,703

1,352,973
0
23,043
969,306

1,499,625
0
49,341
795,652

2,286,719
0
8,568
1,580,324

1,825,489
467,995
(240,585)
1,892,682

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

0.23
5.67
12.83
0.46
1.01
80.74
3.21
4.26
14.84
6.80

0.12
8.47
6.27
0.83
0.88
82.58
3.22
2.70
11.36
4.80
2.33
2.81

0.23
8.10
4.95
0.91
1.09
81.83
3.33
3.16
13.50
5.72

0.14
8.65
8.29
0.58
0.98
82.41
1.86
0.82
2.70
1.46

0.09
11.64
5.07
0.74
0.74
84.40
2.11
-5.49
-16.35
-10.59

0.15
6.99
5.02
1.04
0.89
74.96
1.11
12.32
31.12
23.61
9.46
3.71
2.86
12.08
0.17
23.66
99.40

73,351

123,244

164,540

189,670

64,084

179,994

193,053

208,958

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

151

3.07

1.70

2.42
0.27
-7.76
0.22
-13.89
70.25

7.15
0.00
4.01
33.44

3.17
0.00
2.33
34.98

3.42
0.00
2.85
34.74

1.15
0.00
0.49
83.52

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,032,469

2,152,277

4,447,419

4,226,157

3,482,657
2,022,388
138,683
10,081

3,787,863
2,152,277
214,417
0

6,224,791
4,447,419
261,564
0

6,350,733
4,226,157
297,566
0

5,198,168
35,692
1,172,286
1,061,382
850,812
2,077,996
3,194,110
2,581,774
612,336
1,373,021

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

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

6,919,501
8,572
1,240,654
2,106,306
1,121,116
2,442,853
5,805,699
4,984,404
821,295
1,287,373

499,925

399,940

299,955

873,096
2,663,506
406,693
406,693
0
2,256,813

1,223,184
2,461,819
406,693
406,693
0
2,055,126

953,333
4,629,641
447,362
447,362
0
4,182,279

987,418
4,052,586
492,099
492,099
0
3,560,487

4,298,126
1,272,693
3,025,433
3,757,401

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

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

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

540,725
320,468

524,276
356,473

529,271
445,352

968,069
667,354

(Thousand Rupees)
2009
2010
6,730,262
2,260
6,509,169
4,180,127
275,864
0
713,218
1,834,657
4,085,672
18,931
940,421
2,562,348
65,253
498,719
5,805,685
5,240,052
565,633
1,108,019
1,108,019
0
0
0
0
3,902,230
492,099
492,099
0
1,769,738
21,131
1,748,607
1,640,393

6,785,795
32,809
6,526,246
3,948,372
262,252
0
873,067
1,931,547
4,202,903
16,419
1,047,150
2,579,901
49,706
509,727
6,010,688
5,291,686
719,002
665,164
656,351
0
0
0
8,813
4,312,846
492,099
492,099
0
2,180,340
75,789
2,104,551
1,640,407
10,863,386
3,308,340
7,555,046
9,406,644
3,218,034
6,188,610
1,456,742
789,303
470,413
318,890
745,263
536,270
529,391
463,491
90,890
73,815
0
453,363

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

126,622
37,878
40,668
0

(17,020)
41,613
0
40,669

117,109
48,791
0
0

(42,764)
59,405
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
162,421

4,036,527
499,925
48,076
3,081,699

4,084,943
399,940
(58,633)
3,047,347

5,582,974
0
68,318
3,070,846

5,339,959
299,955
(102,169)
5,284,359

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

4,978,010
656,351
298,786
5,948,037

0.61
4.07
24.69
0.59
1.63
87.42
1.71
1.80
4.92
3.27
2.18
3.67

0.72
7.00
19.67
0.71
1.63
89.72
1.90
-0.24
-0.66
-0.42

0.56
6.93
23.81
0.79
1.19
89.05
1.75
-0.40
-0.99
-0.78

0.46
7.59
23.83
0.99
0.70
85.35
1.77
2.17
6.00
4.61

0.44
4.94
23.75
0.99
0.70
86.59
1.55
4.25
11.28
9.28
5.05
10.37
1.88
4.27
0.07
7.57
87.64

320,468

356,473

445,352

667,354

174,984

356,960

464,397

613,172

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

152

0.51
8.31
22.50
0.55
1.24
90.53
1.21
1.35
3.30
2.42

5.30

5.72

7.13

11.43
1.33
2.22
0.02
3.36
79.30

2.95
0.00
2.18
65.49

-0.33
0.00
-1.44
60.53

2.09
0.00
1.53
103.49

-0.48
0.00
-2.08
82.35

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

850,054

987,445

1,526,635

1,536,338

1,103,968
850,054
32,757
0

1,187,292
987,445
37,727
0

174,856
1,526,635
92,740
0

1,938,482
1,536,338
139,068
0

1,268,765
68,820
584,179
355,046
0
260,720
1,155,347
709,387
445,960
244,519

1,346,069
91,850
597,505
367,384
0
289,330
1,526,092
1,048,864
477,228
133,000

1,706,276
69,206
867,898
435,045
0
334,127
1,948,568
1,119,721
828,847
305,250

1,988,495
44,397
1,089,454
636,141
0
218,503
2,129,878
1,373,662
756,216
393,901

244,519
718,953
170,000
170,000
0
548,953

133,000
674,422
170,000
170,000
0
504,422

305,250
979,093
170,000
170,000
0
809,093

393,901
1,001,054
170,000
170,000
0
831,054

1,371,185
54,052
1,317,133
1,157,540

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

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

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

213,645
188,034

325,543
276,416

431,385
286,413

542,040
309,579

(Thousand Rupees)
2009
2010
1,580,878
44,866
1,892,139
1,515,015
140,363
0
0
20,997
2,070,924
50,692
1,065,316
715,102
0
239,814
2,215,502
1,585,538
629,964
295,594
267,439
0
0
28,155
0
1,140,706
170,000
170,000
0
495,240
495,240
0
475,466

1,473,028
116
1,970,960
1,456,303
138,429
0
0
16,609
2,346,170
88,068
1,301,378
658,700
0
298,024
2,493,193
1,613,104
880,088
213,140
186,556
0
0
26,584
0
1,112,865
170,000
170,000
0
490,381
490,381
0
452,484
4,003,561
33,912
3,969,649
3,373,145
734,462
2,638,683
630,416
344,084
167,623
176,460
273,650
269,789
189,312
17,377
40,892
0
0
124,782

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

12,674
9,810
0
0

30,358
20,401
0
0

38,717
22,676
0
0

58,254
33,457
0
0

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
23,336

963,472
0
2,864
709,387

807,422
0
9,957
1,048,864

1,284,343
0
16,041
1,119,721

1,394,955
0
24,797
1,373,662

1,436,300
267,439
22,698
1,852,977

1,326,004
186,556
(23,515)
1,799,660

0.37
0.96
25.89
0.65
1.10
84.42
1.95
0.71
1.77
1.50

0.30
1.83
16.35
0.96
0.88
85.51
2.46
1.36
4.36
3.43

0.35
7.52
20.91
0.94
0.93
78.96
2.20
1.81
6.08
4.60
3.67
3.21
1.32
1.90
0.01
1.84
67.10

0.30
6.74
16.45
1.05
0.94
84.25
2.43
0.47
1.54
1.26

188,034

276,416

286,413

309,579

13,204

41,132

108,424

176,224

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

153

0.26
4.60
18.45
0.73
0.88
81.71
2.30
1.39
4.68
3.70

0.32
4.86
17.54
1.03
0.93
85.05
2.52
1.72
5.88
4.35

2.35

3.76

2.72

3.33

0.92
0.00
0.17
42.29

1.35
0.00
0.59
39.67

1.64
0.00
0.94
57.59

1.61
0.00
1.46
58.89

3.08
1.09
0.43
0.05
-1.38
65.46

Financial Statement Analysis of Non Financial Sector 2010

Usman 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

2005

2006

2007

2008

182,364

60,877
182,364
21,016
0

0
0
0
0

0
0
0
0

49,904
9,878
0
0
79
39,947
67,381
0
67,381
0

(Thousand Rupees)
2009
2010

0
0
0
0

0
0
0
0
0
0

0
0
0
0
0
0

99,212
15
0
0
0
99,197
19,908
0
19,908
0

107,256
20
0
0
98,233
9,003
24,129
0
24,129
0

122,457
33
0
0
18,004
104,420
29,168
604
28,564
0

122,457
33
0
0
18,004
104,420
29,168
604
28,564
0

122,457
33
0
0
18,004
104,420
29,168
604
28,564
0

0
164,887
37,263
37,263
0
127,624

0
79,304
37,263
37,263
0
42,041

0
83,127
37,263
37,263
0
45,864

0
93,289
37,263
37,263
0
56,026

0
93,289
37,263
37,263
0
56,026

0
93,289
37,263
37,263
0
56,026

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
6,477

0
113

0
590

0
1,270

0
1,270

0
1,270

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

6,477

113

590

1,270

1,270

1,270

185

121,370
34
0
0

12,854
4,499
0
0

8,159
2,855
0
0

14,741
4,584
0
0

(1,270)
4,584
0
0

(1,270)
4,584
0
0

164,887
0
121,336
0

79,304
0
8,355
0

83,127
0
5,304
0

93,289
0
10,157
604

93,289
0
(5,854)
604

93,289
0
(5,854)
604

0.15

0.00

4.07

0.62

0.62

0.62

0.00
0.74

0.00
4.98

0.00
4.45

0.00
4.20

0.00
4.20

0.00
4.20

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

154

0.41
52.25
73.61
73.61

0.25
7.76
10.53
10.53

0.29
7.90
10.05
10.05

0.31
12.83
16.71
16.71

0.31
-1.04
-1.36
-1.36

0.31
-1.04
-1.36
-1.36

0.00
32.56
44.25

0.00
2.24
21.28

0.00
1.42
22.31

0.00
2.73
25.04

0.00
-1.57
25.04

0.00
-1.57
25.04

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

422,462

637,866

749,125

839,057

768,510
420,677
33,943
1,785

1,005,316
637,866
49,764
0

1,177,085
746,863
78,172
2,262

1,305,303
836,464
61,632
2,593

298,854
89,171
69,901
33,123
0
106,659
740,657
138,088
602,569
51,851

318,862
50,788
113,734
64,539
0
89,801
644,479
144,698
499,781
143,233

431,941
117,151
147,329
47,245
0
120,216
831,104
133,772
697,332
169,886

469,666
3,843
177,849
129,107
0
158,867
937,066
276,529
660,537
202,043

51,851
(71,192)
181,680
181,680
0
(252,872)

143,233
169,016
400,000
400,000
0
(230,984)

169,886
180,076
400,000
400,000
0
(219,924)

202,043
169,614
400,000
400,000
0
(230,386)

928,387
484,338
444,049
930,643

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

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

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

(2,256)
69,029

124,804
64,194

131,349
83,206

175,630
112,204

(Thousand Rupees)
2009
2010
807,152
1,935
1,322,443
786,871
60,569
2,075
0
16,271
460,378
6,546
196,644
93,836
0
163,352
579,388
293,804
285,584
514,982
208,250
285,715
0
21,017
0
173,160
400,000
400,000
0
(226,840)
0
(226,840)
0

907,681
0
1,471,725
877,878
63,579
1,924
0
27,879
525,221
6,973
211,533
148,655
0
158,061
677,536
341,318
336,218
575,273
227,124
285,653
0
24,052
38,444
180,094
400,000
400,000
0
(219,906)
0
(219,906)
0
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
0
0
21,669

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(92,397)
6,700
0
0

39,506
5,874
64,194
0

7,573
9,828
0
0

706
10,175
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
107,280

(19,341)
0
(99,097)
138,088

312,249
0
(30,562)
144,698

349,962
0
(2,255)
133,772

371,657
0
(9,469)
276,529

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

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

0.17
2.95
3.57
1.29
0.40
100.24
-11.13
-10.80
636.12
-78.55

0.18
1.92
5.47
1.23
0.49
89.42
4.66
4.71
80.77
26.98
0.52
10.37

0.20
2.58
3.00
1.33
0.52
91.65
5.56
0.71
4.34
2.29

0.14
3.20
6.54
1.51
0.50
91.10
6.72
0.06
0.40
0.20

0.17
3.67
4.47
1.66
0.79
89.78
6.32
1.16
8.69
2.81

0.23
3.19
5.66
1.83
0.78
91.07
6.96
2.07
15.80
3.87

69,029

64,194

83,206

112,204

27,411

22,617

40,570

63,122

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

13.28

155

10.68

11.09

10.67
1.23
0.71
0.10
0.09
4.33

12.42
1.39
1.06
0.02
0.35
4.50

-9.95
0.00
-5.45
-3.92

3.35
0.00
0.84
4.23

0.48
0.00
-0.06
4.50

0.04
0.00
-0.24
4.24

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

341,933

332,812

1,302,832

1,268,947

538,613
341,933
27,375
0

561,757
332,812
33,438
0

1,492,985
1,302,832
102,098
0

1,635,016
1,268,947
104,939
0

248,527
10,358
62,668
16,835
112,816
45,850
227,707
134,989
92,718
82,143

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

1,218,975
141,545
578,325
280,801
80,000
138,304
1,422,494
1,310,378
112,116
138,093

1,737,007
9,244
695,585
348,418
141,595
542,165
1,866,389
1,402,933
463,456
320,836

82,143
280,610
110,093
110,093
0
170,517

49,286
344,375
110,093
110,093
0
234,282

138,093
961,220
110,093
110,093
0
851,127

320,836
818,729
340,509
340,509
0
478,220

480,617
476,014
4,603
455,469

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

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

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

25,148
8,030

37,887
15,242

229,419
128,002

166,421
86,060

(Thousand Rupees)
2009
2010
1,293,312
68,437
1,687,070
1,108,133
107,263
0
113,460
3,282
1,426,672
7,539
718,190
308,116
149,181
243,645
1,741,750
1,558,467
183,283
379,845
175,000
180,422
0
15,952
8,472
598,389
340,509
340,509
0
190,227
158,709
31,518
67,652

1,128,278
31,086
1,178,239
1,073,510
102,088
0
20,400
3,282
1,370,026
7,774
625,260
442,341
87,232
207,421
1,500,751
1,282,535
218,216
320,024
155,000
145,655
0
19,370
0
677,529
340,509
340,509
0
266,784
177,742
89,042
70,236
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
0
0
319,864

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

11,389
445
0
0

4,294
102
8,257
0

148,906
11,636
0
0

(40,990)
9,797
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
(116,195)
0
0
0
76,657

362,753
0
10,944
134,989

393,661
0
(4,065)
167,957

1,099,313
0
137,270
1,310,378

1,139,565
0
(50,787)
1,402,933

978,234
175,000
(116,195)
1,733,467

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

0.61
3.12
3.50
0.81
1.09
94.77
1.10
2.22
4.27
3.22

0.88
5.09
5.75
0.95
1.25
93.74
0.85
0.70
1.37
1.14
0.51
10.12

0.35
5.56
10.13
1.10
0.86
91.73
1.62
9.42
22.81
19.95

0.27
9.76
17.77
0.65
0.93
91.51
2.67
-1.48
-4.61
-3.66

0.27
13.05
14.61
0.78
0.82
87.51
3.55
-4.06
-16.40
-10.97

0.36
7.54
13.99
1.27
0.91
83.59
2.69
2.74
11.20
7.24

8,030

15,242

128,002

86,060

15,005

30,832

154,173

191,322

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

7.67

156

4.79

2.82

2.94
0.53
-5.51
0.04
-3.41
17.57

5.06
1.32
2.26
0.18
1.92
19.90

2.37
0.00
0.99
25.49

0.71
0.00
0.38
31.28

5.37
0.00
12.47
87.31

-2.09
0.00
-1.49
24.04

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,026,638

1,622,115

1,752,408

2,275,204

361,951
1,026,638
27,837
0

1,732,009
1,622,115
74,062
0

1,966,883
1,752,408
143,022
0

1,977,279
2,275,204
368,668
0

706,815
103,444
207,697
166,529
0
229,145
766,758
678,772
87,986
468,764

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

1,308,206
59,827
587,888
378,085
0
282,406
1,686,007
1,211,699
474,308
721,330

1,271,366
2,464
672,845
313,228
14,175
268,654
2,064,963
1,586,967
477,996
683,069

468,764
497,931
474,287
474,287
0
23,644

755,933
650,637
594,287
594,287
0
56,350

721,330
653,277
594,287
594,287
0
58,990

683,069
798,538
594,287
594,287
0
204,251

1,054,090
498,806
555,284
939,547

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

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

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

114,543
48,385

215,912
53,931

277,059
83,590

241,267
100,476

(Thousand Rupees)
2009
2010
2,135,990
2,177
2,357,476
2,127,462
195,838
0
0
6,351
1,192,196
28,924
608,402
283,583
5,388
265,899
1,837,373
1,419,793
417,580
843,273
694,155
0
0
16,915
132,203
647,541
594,287
594,287
0
(263,638)
0
(263,638)
316,891

1,975,871
1,150
2,382,076
1,971,655
182,295
0
0
3,066
1,344,057
7,969
627,299
317,273
2,949
388,567
2,136,492
1,621,191
515,301
599,049
459,893
0
0
19,962
119,195
584,387
594,287
594,287
0
(302,633)
0
(302,633)
292,733
2,663,771
1,711,420
952,352
2,415,837
1,746,610
669,228
247,934
90,482
55,921
34,561
129,121
280,054
263,678
(59,378)
17,239
0
0
104,775

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

30,125
5,503
0
15,000

55,367
9,333
0
0

16,204
13,563
0
0

(189,783)
13,161
0
0

2,601,772
1,672,809
928,963
2,327,132
1,562,719
764,413
274,640
114,395
74,594
39,802
138,412
353,589
309,174
(155,991)
9,290
0
0
229,777

966,695
0
24,622
678,772

1,406,570
0
46,034
954,202

1,374,607
0
2,641
1,211,699

1,481,607
0
(202,944)
1,586,967

1,490,813
694,155
(165,281)
2,113,948

1,183,436
459,893
(76,618)
2,081,084

0.35
3.50
15.80
0.61
0.92
89.13
2.48
1.74
6.05
3.12

0.24
6.96
13.79
0.61
0.81
86.20
2.94
2.58
9.64
4.67

0.26
7.29
13.94
0.89
0.78
89.79
3.69
0.58
2.49
1.17

0.16
13.14
11.89
0.74
0.62
90.84
3.44
-5.74
-26.14
-13.29

0.17
13.59
10.90
0.78
0.65
89.44
4.14
-4.54
-21.57
-10.50

0.15
10.51
11.91
0.80
0.63
90.69
4.68
-1.79
-9.64
-4.44

48,385

53,931

83,590

100,476

36,893

108,872

197,880

346,093

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

157

5.08

3.99

4.61

3.92

4.28
0.50
-6.00
0.09
-2.78
10.90

4.25
0.77
-2.23
0.04
-1.29
9.83

2.86
0.00
0.52
10.50

3.54
0.00
0.77
10.95

0.60
0.00
0.04
10.99

-7.20
0.00
-3.41
13.44

MADE-UP TEXTILE ARTICLES

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

6,829,411

7,304,339

7,918,347

9,098,056

11,015,759
6,727,518
510,036
101,893

11,369,913
7,192,582
613,485
111,757

13,073,524
7,884,034
668,922
34,313

14,617,269
9,065,963
772,960
32,093

9,660,815
231,297
4,764,795
3,295,534
612,495
756,694
9,437,077
6,516,401
2,920,676
2,930,273

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

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

12,115,645
234,102
5,225,008
4,628,500
61,464
1,966,571
11,540,776
7,339,162
4,201,614
3,778,802

2,930,273
4,122,876
1,003,985
1,003,985
0
3,118,891

2,737,894
4,303,124
1,101,202
1,101,202
0
3,201,922

2,948,290
5,477,726
1,193,201
1,193,201
0
4,284,525

3,778,802
5,894,123
1,193,201
1,193,201
0
4,700,922

10,662,393
3,828,211
6,834,182
8,979,467

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

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

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

1,682,926
953,823

2,068,284
1,001,497

2,485,832
1,115,747

2,894,086
1,279,025

(Thousand Rupees)
2009
2010
12,053,142
4,344,248
13,472,856
7,600,019
980,389
38,842
10,333
59,700
11,253,695
1,010,614
4,913,137
3,511,685
500
1,817,759
10,861,255
7,795,877
3,065,378
6,273,126
5,971,296
50,267
0
85,840
165,722
6,172,455
993,999
993,999
0
5,178,456
1,179,452
3,999,004
0

25,068,832
17,418,441
14,135,363
7,551,162
1,059,481
26,570
9,850
62,809
12,090,904
737,708
6,458,307
3,377,333
0
1,517,556
13,041,945
8,878,906
4,163,039
14,986,041
14,598,330
49,827
0
108,927
228,957
9,131,750
993,999
993,999
0
8,137,751
3,388,927
4,748,823
0
26,090,370
10,727,332
15,363,037
21,858,939
11,592,756
10,266,183
4,231,431
2,071,324
946,327
1,124,997
2,725,777
1,202,478
1,054,512
1,179,747
252,454
149,428
0
1,355,133

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

280,331
74,865
30,832
58,887

266,527
115,307
45,220
38,332

869,847
143,938
45,220
0

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

19,998,744
7,335,659
12,663,084
16,531,141
8,333,870
8,197,271
3,467,603
1,659,984
759,625
900,359
2,368,182
1,227,781
1,108,870
823,515
151,964
125,608
0
2,366,475

7,053,149
0
174,634
6,516,401

7,041,018
0
106,000
7,099,823

8,426,016
0
680,689
5,882,726

9,672,925
0
722,333
7,339,162

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

24,117,791
14,598,330
777,864
23,477,236

0.44
4.43
30.91
0.65
1.02
84.22
3.00
1.78
7.03
4.22
6.66
2.24

0.38
5.99
22.57
0.82
0.97
85.38
3.01
1.58
6.33
3.78
3.34
2.65

0.43
4.73
24.58
0.91
1.05
85.17
2.38
4.86
17.79
11.25
16.05
3.79

0.43
5.70
24.51
0.89
1.05
84.67
2.60
4.49
15.67
9.85
22.30
3.61

0.42
6.14
17.56
0.86
1.04
82.66
2.78
3.70
13.65
7.45
5.35
4.07
1.74
4.12
0.14
6.76
62.10

0.32
4.61
12.94
0.70
0.93
83.78
3.07
3.90
15.42
6.45
6.21
4.04
2.12
4.52
0.05
9.33
91.87

953,823

1,001,497

1,115,747

1,279,025

472,492

847,723

792,369

1,075,617

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

159

2.63
0.00
2.05
41.07

1.88
0.00
1.37
39.08

5.19
0.00
6.08
45.91

4.72
0.00
6.34
49.40

Growth with Composition of Assets & Liabilites

30

160%
140%
138.9%
120%
100%
80%
60%
47.9%
40%
20.1%
20%
0%
Current
Non-Current
Shareholders
Liabilities
Laibilities
Equity
2010
Growth

Billion Rs

25
108.0%

20
15
10

5
7.4%

0
Non-Current
Assets

Current Assets

2009

Growth & Composition of Operations

2009

2010

Growth
50%

30
43.3%

Billion Rs

25
20

30%

15

22.0%

20%

10
5

10%

0%
Sales

Gross Profit

15.42

16

13.65

14
12

Net Profit Before Tax

Key Performance Indicators

Profitability/Efficiency Ratios

Percentage

40%

30.5%

2009

10

2010

2009

2010

9.33

6.76

8
6
4
2
0

7.45
3.7 3.9

6.45

Percentage

10
6
4.12

Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

2.78 3.07

4
2

4.52

1.04 0.93

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

81,813

84,689

88,710

119,907

141,003
81,813
5,367
0

151,131
84,689
7,306
0

161,910
88,710
8,177
0

201,845
119,907
8,738
0

50,987
5,583
28,797
4,315
0
12,292
55,507
12,627
42,880
2,047

75,176
3,328
44,786
3,056
0
24,006
73,627
16,494
57,133
4,443

101,111
6,680
65,593
4,655
0
24,183
92,762
31,093
61,669
5,869

93,163
6,276
61,701
1,246
0
23,940
90,099
35,845
54,254
31,108

2,047
75,246
61,517
61,517
0
13,729

4,443
81,795
61,517
61,517
0
20,278

5,869
91,190
61,517
61,517
0
29,673

31,108
91,863
61,517
61,517
0
30,346

84,815
71,133
13,682
75,713

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

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

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

9,102
4,844

26,793
7,522

28,939
8,571

27,484
8,438

(Thousand Rupees)
2009
2010
114,559
0
200,264
112,879
11,237
0
0
1,680
118,111
14,261
66,796
4,060
0
32,994
91,187
39,477
51,710
55,888
14,482
26,511
0
1,571
13,324
85,595
61,517
61,517
0
24,078
0
24,078
0

120,374
13,421
203,015
105,273
10,356
0
0
1,680
128,616
28,273
43,485
14,043
0
42,815
112,062
60,727
51,336
57,072
8,542
32,071
0
2,117
14,341
79,857
61,517
61,517
0
18,340
0
18,340
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
18,399

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,971
426
0
0

17,336
3,356
0
0

16,389
4,101
0
0

12,190
1,317
0
0

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
12,979

77,293
0
2,545
12,627

86,238
0
13,980
16,494

97,059
0
12,288
31,093

122,971
0
10,873
35,845

141,483
14,482
(1,423)
53,959

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

0.08
2.60
0.47
1.24
1.03
89.57
1.32
6.05
13.32
11.08

0.20
4.14
1.36
1.28
1.30
89.65
1.72
3.86
9.68
6.50
0.85
4.48
1.75
2.87
0.09
1.27
13.91

0.38
3.10
4.07
1.39
1.15
90.95
2.12
2.84
8.26
4.91

4,844

7,522

8,571

8,438

1,446

1,947

4,714

6,856

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.18
1.70
5.09
0.64
0.92
89.27
0.76
2.65
5.21
4.92

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

161

0.09
1.01
1.58
1.21
1.02
86.16
0.95
11.85
22.08
21.20

0.12
2.04
2.01
1.22
1.09
87.48
1.08
9.37
18.95
17.88

2.95

4.32

3.52

4.27

3.50
0.00
0.41
12.23

8.95
0.00
2.27
13.30

7.09
0.00
2.00
14.82

4.63
0.00
1.77
14.93

7.94
1.67
1.98
0.11
0.73
12.98

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

28,640

26,498

24,577

22,856

94,074
28,640
2,839
0

94,074
26,498
2,143
0

94,074
24,577
1,920
0

34,074
22,856
1,721
0

245,979
34
30,201
173,208
0
42,536
298,799
111,718
187,081
0

244,665
19
18,018
174,877
0
51,751
312,189
111,719
200,470
0

239,437
17
14,765
175,737
0
48,918
328,982
100,331
228,651
0

256,380
11
5,994
203,438
0
46,937
341,716
89,331
252,385
0

0
(24,180)
20,000
20,000
0
(44,180)

0
(41,026)
20,000
20,000
0
(61,026)

0
(64,968)
20,000
20,000
0
(84,968)

0
(62,480)
20,000
20,000
0
(82,480)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
12,790

0
5,289

0
8,310

0
12,915

(Thousand Rupees)
2009
2010
21,312
0
94,074
21,312
1,544
0
0
0
300,129
10
5,994
249,253
0
44,873
360,478
89,331
271,147
0
0
0
0
0
0
(39,037)
20,000
20,000
0
(59,037)
53,500
(112,537)
0

19,926
0
94,074
19,926
1,386
0
0
0
289,906
26
6,222
264,524
0
19,133
379,387
89,331
290,056
0
0
0
0
0
0
(69,555)
20,000
20,000
0
(89,555)
53,500
(143,055)
0
0
0
0
0
0
0
0
27,426
0
27,426
0
18,364
18,364
(30,518)
0
0
0
(30,518)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(21,651)
0
0
0

(16,846)
0
0
0

(23,942)
0
0
0

2,488
0
0
0

0
0
0
0
0
0
0
4,012
0
4,012
0
18,359
18,359
23,444
0
0
0
23,443

(24,180)
0
(21,651)
111,718

(41,026)
0
(16,846)
111,719

(64,968)
0
(23,942)
100,331

(62,480)
0
2,488
89,331

(39,037)
0
23,444
89,331

(69,555)
0
(30,518)
89,331

0.58

0.56

0.53

0.60

0.69

0.70

0.00
0.82

0.00
0.78

0.00
0.73

0.00
0.75

0.00
0.83

0.00
0.76

12,790

5,289

8,310

12,915

13,229

13,226

16,519

12,299

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

162

-12.36
-7.74
162.13
162.13

-7.61
-6.17
51.67
51.67

-5.06
-8.95
45.18
45.18

-5.47
0.92
-3.90
-3.90

-9.23
7.81
-46.19
-46.19

-5.45
-9.67
56.21
56.21

0.00

0.00

0.00

0.00

0.00
2.28

0.00
-0.66

0.00
-10.83
-12.09

0.00
-8.42
-20.51

0.00
-11.97
-32.48

0.00
1.24
-31.24

0.07
11.72
-19.52

-0.08
-15.26
-34.78

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

4,028,509

4,449,195

4,733,261

5,855,836

6,730,206
4,028,509
274,672
0

6,590,642
4,410,230
379,332
38,965

7,929,859
4,702,826
412,276
30,435

9,200,478
5,827,621
514,617
28,215

5,776,784
115,546
2,747,023
1,925,491
609,947
378,777
5,432,021
4,449,820
982,201
2,036,250

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

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

6,541,866
69,034
2,915,550
2,490,258
58,450
1,008,574
7,151,112
5,214,385
1,936,727
2,484,561

2,036,250
2,337,022
383,325
383,325
0
1,953,697

2,151,331
2,385,227
459,989
459,989
0
1,925,238

1,772,007
2,659,191
551,987
551,987
0
2,107,204

2,484,561
2,762,029
551,987
551,987
0
2,210,042

5,893,167
2,394,537
3,498,630
4,929,794

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

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

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

963,373
611,272

1,164,653
623,472

1,425,901
693,742

1,699,071
781,553

(Thousand Rupees)
2009
2010
6,177,455
35,608
10,473,377
6,077,026
639,458
33,525
0
31,296
7,630,720
162,626
3,940,944
2,672,797
0
854,353
7,852,081
5,927,482
1,924,599
2,717,822
2,566,604
0
0
11,945
139,273
3,238,272
634,785
634,785
0
2,603,487
490,820
2,112,667
0

6,204,139
51,332
11,113,486
6,097,376
681,282
21,253
0
34,178
8,582,802
157,188
4,991,811
2,465,556
0
968,247
8,636,966
6,501,422
2,135,544
2,439,947
2,222,650
0
0
15,016
202,281
3,710,028
634,785
634,785
0
3,075,243
494,491
2,580,752
0
19,885,337
9,116,748
10,768,589
16,582,414
7,297,486
9,284,928
3,302,923
1,662,168
800,060
862,108
2,293,895
959,259
870,737
707,921
182,027
79,348
0
479,484

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

121,908
39,000
0
38,332

12,381
47,000
0
38,332

262,191
67,352
0
0

201,838
66,000
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
442,468

4,373,272
0
82,908
4,449,820

4,536,558
0
(34,619)
4,660,284

4,431,198
0
194,839
4,010,209

5,246,590
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

0.43
6.50
22.31
0.82
1.02
85.88
3.20
0.12
0.52
0.28

0.40
4.82
21.93
0.98
0.95
85.56
2.79
2.61
10.40
5.85

0.37
6.23
21.19
0.95
0.91
85.54
3.49
1.80
7.45
4.17

0.36
7.29
18.81
1.03
0.97
82.25
3.26
1.56
6.81
3.65

0.30
4.82
12.40
1.34
0.99
83.39
2.99
4.95
20.38
11.70
6.63
3.98
1.81
3.56
0.04
8.28
58.45

611,272

623,472

693,742

781,553

236,912

536,302

476,245

732,477

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.49
4.02
32.67
0.60
1.06
83.65
3.20
1.29
5.25
3.02

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

163

2.15

2.86

4.38

4.03

3.61
1.21
1.44
0.04
1.90
51.01

2.07
0.00
2.16
60.97

0.15
0.00
-0.75
51.85

2.66
0.00
3.53
48.17

1.72
0.00
2.46
50.04

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

18,833

17,448

17,083

14,365

48,027
18,833
4,328
0

47,478
17,448
3,808
0

53,862
17,083
4,411
0

55,217
14,365
4,073
0

38,470
1,421
8,807
21,878
0
6,364
42,507
6,095
36,412
0

51,735
551
12,896
29,662
0
8,626
53,823
7,700
46,123
0

72,121
1,406
14,133
46,324
0
10,258
67,516
8,447
59,069
0

87,718
15,951
10,430
49,868
0
11,469
66,277
5,500
60,777
210

0
14,796
30,000
30,000
0
(15,204)

0
15,360
30,000
30,000
0
(14,640)

0
21,688
30,000
30,000
0
(8,312)

210
35,596
30,000
30,000
0
5,596

83,049
20,934
62,115
73,371

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

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

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

9,678
7,292

7,186
4,367

14,585
4,299

26,017
7,052

(Thousand Rupees)
2009
2010
21,589
0
63,068
19,981
4,294
0
0
1,608
66,615
3,776
7,530
45,884
0
9,425
41,498
0
41,498
0
0
0
0
0
0
46,706
30,000
30,000
0
16,706
0
16,706
0

21,589
0
63,068
19,981
4,294
0
0
1,608
66,615
3,776
7,530
45,884
0
9,425
41,498
0
41,498
0
0
0
0
0
0
46,706
30,000
30,000
0
16,706
0
16,706
0
158,532
86,831
71,701
137,103
61,726
75,378
21,428
7,378
0
7,378
15,171
4,873
394
12,008
1,700
2,250
0
(19,279)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,805
600
0
0

2,087
600
0
0

7,727
1,400
0
0

16,264
1,800
0
0

158,532
86,831
71,701
137,103
61,726
75,378
21,428
7,378
0
7,378
15,171
4,873
394
12,008
1,700
2,250
0
(19,279)

14,796
0
1,205
6,095

15,360
0
1,487
7,700

21,688
0
6,327
8,447

35,806
0
14,464
5,500

46,706
0
8,058
0

46,706
0
8,058
0

0.55
1.25
26.34
1.45
0.91
88.35
2.87
3.05
12.23
12.23

0.56
1.22
34.52
1.24
0.96
91.64
3.50
3.30
13.84
13.84

0.71
1.67
31.86
1.63
1.07
89.97
3.11
9.76
41.71
41.71

0.99
1.93
27.66
1.77
1.32
85.57
1.87
17.00
56.78
56.58

1.20
3.07
28.94
1.80
1.61
86.48
0.89
12.62
29.18
29.11
4.58
21.05
31.48
7.57
-0.46
3.44
15.57

1.20
3.07
28.94
1.80
1.61
86.48
0.89
13.61
25.71
25.71
4.58
21.05
31.48
7.57
-0.46
3.44
15.57

7,292

4,367

4,299

7,052

1,037

1,046

2,425

3,482

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

164

9.43

6.66

10.29

17.28

2.17
0.00
0.40
4.93

2.43
0.00
0.50
5.12

5.31
0.00
2.11
7.23

9.02
0.00
4.82
11.87

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,084,869

1,280,838

1,269,866

1,300,242

1,660,397
1,084,869
86,997
0

2,131,375
1,280,838
94,607
0

2,009,584
1,269,866
108,136
0

2,301,420
1,300,242
109,809
0

1,368,329
47,752
504,678
657,543
2,548
155,808
1,339,504
528,263
811,241
260,307

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

1,708,580
139,232
596,348
701,321
2,171
269,508
1,679,845
776,462
903,383
122,433

2,021,900
137,788
748,538
856,009
3,014
276,551
1,634,542
1,037,917
596,625
214,942

260,307
853,387
205,547
205,547
0
647,840

146,576
848,012
226,101
226,101
0
621,911

122,433
1,176,168
226,101
226,101
0
950,067

214,942
1,472,658
226,101
226,101
0
1,246,557

3,126,745
854,676
2,272,069
2,685,784

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

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

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

440,961
183,714

518,482
208,134

637,864
254,185

762,971
322,427

(Thousand Rupees)
2009
2010
5,610,999
4,308,640
2,409,997
1,264,568
123,956
5,317
8,518
23,957
2,977,435
829,520
783,221
494,723
500
869,471
2,463,164
1,723,087
740,077
3,499,416
3,390,211
23,756
0
72,324
13,125
2,625,854
226,101
226,101
0
2,399,753
634,733
1,765,020
0

18,609,172
17,353,689
2,481,626
1,217,948
121,730
5,317
8,035
24,183
2,905,763
547,731
1,325,688
558,762
0
473,582
3,837,030
2,211,927
1,625,103
12,489,023
12,367,138
17,756
0
91,794
12,335
5,188,882
226,101
226,101
0
4,962,781
2,840,537
2,122,243
0
5,612,473
1,209,732
4,402,741
4,716,484
3,931,453
785,031
895,989
344,814
137,013
207,801
384,511
205,915
152,001
522,256
65,921
67,830
0
945,801

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

224,901
24,774
30,832
20,555

243,108
46,144
45,220
0

328,606
52,230
45,220
0

379,387
46,823
33,915
0

5,228,453
1,003,887
4,224,566
4,326,031
3,287,202
1,038,829
902,422
311,086
131,271
179,815
338,684
154,943
113,479
605,496
65,689
113,051
0
1,876,560

1,113,694
0
169,295
528,263

994,588
0
151,744
788,349

1,298,601
0
231,156
776,462

1,687,600
0
298,649
1,037,917

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

17,677,905
12,367,138
388,505
14,579,064

0.53
1.24
21.03
1.27
1.02
85.90
1.87
10.26
30.38
23.06
6.49
6.20

0.41
1.82
14.46
1.39
0.83
86.30
2.20
9.41
28.58
23.06
4.36
6.78

0.50
1.51
15.84
1.49
1.02
85.60
1.53
11.55
32.47
28.66
6.11
7.43

0.61
2.06
18.60
1.39
1.24
83.42
1.26
12.04
28.65
25.41
9.81
6.15

0.54
2.96
9.46
0.61
1.21
82.74
2.27
10.17
29.55
15.50
4.77
6.68
6.34
11.58
0.31
23.87
116.14

0.29
3.67
9.96
0.26
0.76
84.04
3.15
3.47
13.37
4.39
6.73
4.23
4.44
9.31
0.06
20.18
229.49

183,714

208,134

254,185

322,427

38,895

68,707

66,855

94,892

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

165

7.19
0.00
9.74
41.52

6.43
0.00
8.71
37.51

7.42
0.00
12.22
52.02

8.24
0.00
14.71
65.13

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

109,471

101,706

82,878

82,878

237,703
109,471
5,954
0

237,167
101,706
8,066
0

158,094
82,878
5,207
0

158,094
82,878
5,207
0

245,700
623
176,198
63,595
0
5,284
167,889
113,478
54,411
102,818

211,956
660
152,871
47,703
0
10,722
184,646
121,422
63,224
75,324

203,609
2,943
126,763
58,311
0
15,592
21,074
0
21,074
0

203,609
2,943
126,763
58,311
0
15,592
21,074
0
21,074
0

102,818
84,464
21,596
21,596
0
62,868

75,324
53,692
21,595
21,595
0
32,097

0
265,413
21,596
21,596
0
243,817

0
265,413
21,596
21,596
0
243,817

320,296
246,798
73,498
271,032

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

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

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

49,264
32,453

28,199
31,956

4,476
23,218

4,476
23,218

(Thousand Rupees)
2009
2010
107,228
0
232,076
104,254
199,900
0
1,815
1,159
160,685
421
108,652
44,968
0
6,644
52,847
16,499
36,348
0
0
0
0
0
0
215,065
21,596
21,596
0
193,470
399
193,071
0

93,632
0
180,094
90,658
240,434
0
1,815
1,159
117,202
714
83,571
28,565
0
4,353
35,002
15,500
19,503
0
0
0
0
0
0
175,832
21,596
21,596
0
154,236
399
153,837
0
88,589
88,589
0
108,755
51,594
57,161
(20,166)
15,540
5,547
9,993
24,519
3,371
2,788
(38,755)
479
0
0
(38,755)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

6,328
1,480
0
0

(21,064)
2,509
0
0

211,358
901
0
0

211,358
901
0
0

105,340
105,340
0
114,726
87,098
27,629
(9,387)
19,044
5,131
13,913
24,272
2,007
1,901
(30,303)
0
1,080
0
30,303

187,282
0
4,848
113,478

129,016
0
(23,573)
121,422

265,413
0
210,457
0

265,413
0
210,457
0

215,065
0
(31,383)
16,499

175,832
0
(39,233)
15,500

0.38
3.66
19.86
0.90
1.46
84.62
3.20
1.98
11.80
3.82

0.26
6.57
19.12
0.80
1.15
88.70
4.84
-6.30
-30.49
-13.32

2.91
2.99
37.22
0.55
9.66
97.14
0.08
70.44
132.47
107.17

2.91
2.99
37.22
0.55
9.66
97.14
0.08
73.78
79.63
79.63

0.86
1.91
42.69
0.39
3.04
108.91
0.25
-10.93
-12.61
-12.61
-28.06
0.97
-14.94
-28.77
0.57
-14.03
99.59

0.84
3.81
32.24
0.42
3.35
122.76
0.20
-16.19
-19.83
-19.83

32,453

31,956

23,218

23,218

11,718

16,393

4,681

4,681

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

166

1.82

1.63

1.24

1.24

1.98
0.00
2.24
39.11

-8.44
0.00
-10.92
24.86

134.90
0.00
97.45
122.90

134.90
0.00
97.45
122.90

1.06
-12.90
-43.75
-1.11
-18.17
81.42

OTHER TEXTILES N.E.S.

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

24,531,190

27,526,012

26,291,327

25,867,545

45,221,745
24,531,398
2,026,922
(208)

50,752,008
27,527,839
2,239,397
(1,827)

50,618,280
26,273,362
2,510,961
17,965

52,242,519
25,852,987
2,748,837
14,558

29,495,128
1,212,484
16,076,584
2,392,310
6,605,451
3,208,299
24,889,921
11,908,613
12,981,308
10,963,677

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

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

36,557,848
744,652
15,244,882
3,530,134
9,638,699
7,399,481
34,589,384
13,047,907
21,541,477
9,793,188

175,942

46,382

6,382

10,787,735
18,172,720
9,044,073
9,044,073
0
9,128,647

9,135,257
21,583,906
9,053,823
9,053,823
0
12,530,083

8,061,941
21,811,325
9,065,606
9,065,606
0
12,745,719

9,793,188
18,042,821
9,068,275
9,068,275
0
8,974,546

43,914,536
37,496,394
6,418,142
40,939,137

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

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

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

2,975,399
1,497,223

4,189,950
1,583,054

2,407,509
1,423,030

750,830
1,913,982

(Thousand Rupees)
2009
2010
38,798,680
311,133
52,696,899
24,143,616
2,420,196
8,226
13,794,891
540,814
19,935,869
905,262
10,743,823
3,593,603
44,386
4,648,794
30,878,248
15,437,782
15,440,466
12,461,675
7,561,662
1,005,727
0
603,295
3,290,990
15,394,627
8,655,225
8,655,225
0
2,166,646
1,911,758
198,647
4,572,756

28,950,892
302,689
30,471,956
13,939,805
1,391,330
8,928
14,569,953
129,516
15,869,920
504,758
9,760,375
1,088,874
121,146
4,394,766
13,963,074
4,099,955
9,863,119
8,409,854
4,450,732
1,072,547
0
593,462
2,293,112
22,447,885
4,992,015
4,992,015
0
15,239,532
1,918,906
13,264,384
2,216,338
47,711,966
36,928,362
10,783,603
42,614,413
35,264,977
7,347,494
5,097,553
2,334,646
879,145
1,455,501
2,086,298
1,823,517
1,544,476
4,314,657
740,186
773,609
19,157
85,903

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

472,804
286,522
864,525
255,573

2,024,142
434,204
168,739
0

568,053
305,932
87,141
0

(2,749,048)
465,922
111,360
880,250

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
(4,129,847)
301,741
213,508
0
3,918,838

29,136,397
175,942
(678,243)
12,084,555

30,765,545
46,382
1,421,199
11,338,745

29,879,648
6,382
174,980
9,935,531

27,836,009
0
(3,326,330)
13,047,907

27,856,302
7,561,662
(4,645,096)
22,999,444

30,857,738
4,450,732
2,800,862
8,550,687

0.41
3.02
5.45
0.81
1.19
93.22
1.97
0.90
2.71
1.63
0.22
2.73

0.44
4.34
5.88
0.80
1.12
91.01
1.70
3.60
10.18
6.76
9.42
3.44

0.46
5.69
7.05
0.74
1.12
94.49
1.70
0.97
2.62
1.87
3.01
3.18

0.40
6.99
7.63
0.74
1.06
98.38
2.46
-4.53
-13.80
-9.53
-28.87
3.04

0.15
9.02
8.14
0.75
0.65
99.38
2.82
-6.82
-24.70
-14.83
-20.76
4.11
-0.32
-9.35
0.09
-5.12
17.79

0.12
3.82
2.28
1.06
1.14
89.32
1.00
8.33
22.80
14.70
4.62
4.89
3.79
9.04
0.00
7.16
44.97

1,497,223

1,583,054

1,423,030

1,913,982

1,327,082

2,021,626

2,487,469

3,233,623

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

1.08
0.00
0.21
20.09

4.35
0.00
1.76
23.84

1.30
0.00
0.44
36.59

-5.94
0.00
-3.55
19.90

Billion Rs

Growth with Composition of Assets & Liabilites

45
40
35
30
25
20
15
10
5
0

60%
40%
45.8%

0%

-25.4%

-20%

-20.4%
-32.5%

-40%

-54.8%
Non-Current
Assets

20%

Current Assets

Current
Liabilities
2010

2009

-60%
Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

60
50

44.15

47.71

Billion Rs

40
30

20
10

0.27

5.10

4.31

0
Sales

-10

Gross Profit

Net Profit Before Tax

-4.13

Key Performance Indicators

Profitability/Efficiency Ratios
22.8

25

2009

9.04
7.16

14.7
8.33

Return on
Assets
-6.82

2.82

Return on
Equity

-24.7

Return on
Capital
Emloyed
-14.83

Percentage

Percentage

2010

10

20
15
10
5
0
-5
-10
-15
-20
-25

2009

2010

0.65

1.00

1.14

-5

-10

Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin
-9.35

Earing
Per Share
after Tax
-5.12

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,249,056

2,147,810

2,110,162

2,299,777

3,045,811
2,242,520
144,838
6,536

3,120,758
2,146,161
172,407
1,649

3,245,188
2,110,162
181,840
0

3,532,872
2,299,777
174,177
0

2,934,973
122,436
2,532,088
82,747
0
197,702
3,264,997
2,041,036
1,223,961
854,283

3,247,847
26,399
2,827,763
94,529
0
299,156
3,707,064
2,217,947
1,489,117
583,828

3,637,827
42,564
3,151,303
107,616
0
336,344
4,225,738
2,286,779
1,938,959
236,302

4,756,547
10,770
4,313,862
113,021
0
318,894
5,254,674
2,360,511
2,894,163
319,889

854,283
1,064,749
74,250
74,250
0
990,499

583,828
1,104,765
74,250
74,250
0
1,030,515

236,302
1,285,949
95,783
95,783
0
1,190,166

319,889
1,481,761
95,782
95,782
0
1,385,979

3,539,908
111,228
3,428,680
3,008,446

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

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

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

531,462
323,078

721,894
344,393

597,361
230,093

682,001
279,396

(Thousand Rupees)
2009
2010
2,222,745
0
3,716,460
2,220,859
177,399
0
0
1,887
5,509,273
36,469
4,964,104
148,791
0
359,909
5,939,040
2,752,649
3,186,391
273,600
133,772
98,861
0
40,966
0
1,519,379
95,783
95,783
0
868,872
257,895
610,977
554,724

2,201,162
0
3,824,883
2,199,216
172,324
0
0
1,947
6,546,327
63,687
5,761,915
305,548
0
415,178
6,880,562
2,951,933
3,928,629
256,102
107,259
98,861
0
49,981
0
1,610,825
95,783
95,783
0
960,318
257,895
702,423
554,724
10,826,885
151,007
10,675,879
9,277,052
8,717,145
559,907
1,549,833
891,319
663,015
228,304
338,485
453,691
189,518
209,021
110,391
0
19,157
308,795

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

59,250
28,348
3,713
0

105,397
45,541
5,539
0

82,418
46,605
0
0

95,056
56,086
7,184
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
347,756

1,919,032
0
27,189
2,041,036

1,688,593
0
54,317
2,217,947

1,522,251
0
35,813
2,286,779

1,801,650
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

0.03
4.80
1.63
1.18
0.93
85.58
4.09
1.85
9.10
7.60
6.24
1.83
1.68
1.50
0.06
4.68
158.63

0.05
4.19
2.82
1.24
0.95
85.69
4.43
2.54
13.36
11.42

323,078

344,393

230,093

279,396

150,896

280,072

284,850

310,252

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.06
4.26
2.34
0.68
0.90
84.99
3.87
1.37
6.94
3.80
8.32
1.40

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

170

0.03
6.29
2.12
0.83
0.88
83.80
3.88
1.99
9.72
5.84
10.81
1.58

0.04
6.21
2.35
0.80
0.86
86.97
3.47
1.48
6.89
5.13

1.45

0.02
5.65
2.06
0.78
0.91
87.59
3.76
1.48
6.87
5.72
5.42
1.27

1.67
0.00
4.16
143.40

2.37
0.00
8.06
148.79

1.80
0.00
3.74
134.26

1.73
0.00
4.07
154.70

1.88
2.10
1.93
0.04
10.30
168.18

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

411,011

420,630

428,309

419,174

576,264
411,011
17,071
0

599,926
420,630
22,432
0

623,724
428,309
23,031
0

629,651
419,174
212,742
0

247,030
550
132,415
67,538
6,576
39,951
147,617
106,483
41,134
0

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

240,672
7,106
109,624
35,431
30,370
58,141
73,353
22,776
50,577
67,788

294,325
557
139,999
50,788
31,495
71,486
386,427
70,284
316,143
13,354

0
510,424
50,700
50,700
0
459,724

1,488
499,777
50,700
50,700
0
449,077

67,788
527,840
50,700
50,700
0
477,140

13,354
313,718
76,050
76,050
0
237,668

147,806
147,806
0
127,680

288,932
288,932
0
213,718

296,016
296,016
0
221,960

332,183
332,183
0
319,692

20,126
15,534

75,214
28,843

74,056
30,651

12,491
32,441

(Thousand Rupees)
2009
2010
500,529
33,180
665,478
440,875
13,445
0
3,380
23,094
301,386
765
202,272
50,106
0
48,243
165,464
110,969
54,495
82,914
1,789
0
0
19,790
61,335
553,537
76,050
76,050
0
236,460
19,445
217,015
241,027

559,793
2,294
700,005
461,878
15,244
0
92,812
2,809
354,769
1,974
265,674
40,981
0
46,140
162,183
93,958
68,225
98,757
238
0
0
33,514
65,005
653,622
76,050
76,050
0
338,704
19,445
319,259
238,868
415,428
415,428
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
33,890

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,649
4,200
0
0

38,193
16,508
0
0

41,698
14,840
0
0

(16,968)
16,300
0
380,250

391,280
391,280
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
(4,291)

510,424
0
(2,551)
106,483

501,265
0
21,685
7,355

595,628
0
26,858
22,776

327,072
0
(33,268)
70,284

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

752,379
238
76,978
94,196

0.51
3.89
45.69
0.22
1.67
86.38
0.29
0.24
0.32
0.32

0.51
1.97
10.35
0.47
1.68
73.97
0.24
5.98
7.56
7.55

0.99
1.15
11.97
0.44
3.28
74.98
0.27
6.47
8.12
7.60

0.21
0.00
15.29
0.47
0.76
96.24
1.27
-2.45
-4.03
-3.68

0.31
1.46
12.81
0.49
1.82
75.46
0.45
1.28
2.24
2.02

0.26
2.56
9.86
0.45
2.19
72.72
0.40
10.98
15.62
13.58
6.06
1.56
10.00
22.69
0.13
12.12
85.95

15,534

28,843

30,651

32,441

5,754

5,691

3,412

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

171

1.12

3.03

2.70

2.37

1.93
2.74
2.48
-0.02
0.19
72.79

1.12
0.00
-0.50
100.68

13.22
0.00
4.28
98.58

14.09
0.00
5.30
104.11

-5.11
0.00
-4.37
41.25

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

274,098

259,543

203,219

513,232

390,590
274,098
8,430
0

393,508
259,543
17,945
0

355,067
203,219
17,883
0

685,277
513,232
22,244
0

319,113
10,842
147,153
59,121
40,526
61,471
592,972
292,893
300,079
95,139

256,892
4,501
126,539
37,447
33,330
55,075
631,560
302,805
328,755
40,000

208,313
7,553
68,915
8,051
72,363
51,431
416,434
130,025
286,409
40,000

310,198
2,955
158,192
84,713
4,258
60,080
491,898
191,679
300,219
17,519

40,000

95,139
(94,900)
150,635
150,635
0
(245,535)

0
(155,125)
150,635
150,635
0
(305,760)

40,000
(44,902)
150,635
150,635
0
(195,537)

17,519
314,013
237,635
237,635
0
76,378

471,234
358,209
113,025
455,041

443,953
336,955
106,998
433,949

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

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

16,193
57,237

10,004
64,884

(17,328)
75,505

54,483
82,890

(Thousand Rupees)
2009
2010
492,401
0
584,164
488,474
26,364
0
553
3,374
241,100
25,249
143,146
29,113
0
43,592
255,252
191,679
63,573
151,564
17,519
63,105
0
0
70,941
326,685
237,634
237,634
0
(295,068)
35,768
(330,836)
384,119

747,473
0
967,418
745,006
16,198
0
135
2,333
540,450
14,778
255,897
142,284
76,760
50,731
498,081
373,651
124,430
319,175
13,684
117,705
0
0
187,787
470,666
237,635
237,635
0
(369,965)
35,768
(405,733)
602,997
566,002
547,140
18,862
525,658
446,813
78,845
40,343
85,834
8,966
76,868
128,309
39,183
38,540
(84,068)
2,931
0
0
(285,073)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(4,989)
2,351
0
0

(52,053)
2,609
0
0

160,830
3,112
0
0

23,493
4,141
0
0

999,999
966,739
33,260
871,564
565,923
305,642
128,434
95,005
17,400
77,606
205,939
30,776
29,842
5,188
333
0
0
109,655

239
0
(7,340)
292,893

(115,125)
40,000
(54,662)
342,805

(4,902)
0
157,718
130,025

331,532
0
19,352
191,679

478,249
17,519
4,855
209,198

789,842
13,684
(86,999)
387,335

0.19
10.20
12.55
0.79
0.54
96.56
-7.25
-0.99
1.99
2.47

0.12
12.03
8.43
0.86
0.41
97.75
-4.33
-9.38
41.64
90.62

0.21
9.34
1.74
1.12
0.50
103.75
-10.17
34.66
-160.81
-267.99

0.19
2.48
11.91
0.86
0.63
92.34
1.62
3.80
17.46
14.39

0.21
3.08
2.91
1.36
0.94
87.16
1.25
0.67
1.62
1.28

0.47
6.92
25.14
0.44
1.09
92.87
1.74
-8.32
-21.09
-13.26

57,237

64,884

75,505

82,890

48,084

53,400

43,105

17,619

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

172

3.20

3.51

6.70

4.50

6.99
1.17
0.52
0.27
0.20
13.75

2.21
-1.18
-14.85
-0.35
-3.66
19.81

-1.06
0.00
-0.49
-6.30

-11.72
0.00
-3.63
-10.30

34.84
0.00
10.47
-2.98

3.30
0.00
0.81
13.21

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

8,437,799

7,806,259

7,512,306

7,515,665

13,955,620
8,416,279
595,909
21,520

14,132,676
7,786,968
817,915
19,291

14,073,054
7,494,543
767,223
17,763

14,964,754
7,501,107
743,027
14,558

10,650,049
118,244
3,424,597
99,887
6,210,232
797,089
5,421,740
3,495,317
1,926,423
6,845,500

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

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

16,340,927
244,560
4,173,311
129,139
9,326,015
2,467,902
8,714,898
2,302,166
6,412,732
5,580,842

6,845,500
6,820,608
3,105,070
3,105,070
0
3,715,538

5,511,125
7,771,595
3,105,070
3,105,070
0
4,666,525

4,911,549
9,115,762
3,105,070
3,105,070
0
6,010,692

5,580,842
9,560,852
3,105,070
3,105,070
0
6,455,782

11,686,120
11,623,351
62,769
10,747,262

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

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

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

938,858
221,928

1,946,010
385,562

1,630,511
445,666

2,186,708
553,600

(Thousand Rupees)
2009
2010
21,407,628
132,295
16,069,677
7,684,718
723,283
14,005
13,572,874
3,736
5,071,029
169,515
2,909,688
162,983
0
1,828,843
6,392,585
3,279,478
3,113,107
8,215,229
6,161,208
0
0
312,580
1,741,442
11,870,843
3,105,070
3,105,070
0
8,765,773
1,150,373
7,615,400
0

21,547,107
252
16,220,027
7,190,161
758,214
8,928
14,318,836
28,930
5,469,824
72,754
2,355,116
138,790
0
2,903,165
5,237,463
672,269
4,565,193
6,541,364
4,325,000
0
0
401,887
1,814,477
15,238,104
3,105,070
3,105,070
0
12,133,034
1,157,521
10,975,513
0
27,123,869
27,045,970
77,899
24,374,579
19,800,852
4,573,727
2,749,289
774,323
158,861
615,463
1,083,456
1,262,093
1,258,590
3,893,805
461,282
621,014
0
(254,615)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

285,630
48,826
465,760
0

1,848,453
262,166
0
0

1,768,636
132,484
0
0

2,109,505
262,898
0
500,000

22,059,607
21,978,281
81,326
19,748,551
15,930,333
3,818,218
2,311,056
575,247
126,675
448,572
780,302
1,387,288
1,379,814
1,926,152
94,430
0
0
2,374,480

13,666,108
0
(228,956)
3,495,317

13,282,720
0
1,586,287
2,014,428

14,027,311
0
1,636,152
1,800,910

15,141,694
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

1.19
3.88
0.85
0.61
1.96
91.97
1.80
1.51
4.37
2.12
0.51
3.41

1.46
5.41
0.91
0.92
2.00
88.70
1.41
9.77
25.33
13.72

1.35
5.67
0.73
0.79
1.98
90.02
1.27
8.97
20.95
12.95

1.11
4.04
0.60
0.90
1.88
89.86
1.50
9.48
22.59
14.46

0.05
6.29
0.74
0.83
0.79
89.52
1.23
7.65
17.97
10.94

0.04
4.65
0.51
1.00
1.04
89.86
0.77
14.56
28.73
18.60
5.53
11.52
4.09
14.36
-0.02
11.05
49.07

221,928

385,562

445,666

553,600

453,490

931,897

925,671

870,923

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

173

10.56

6.54

5.17

7.58
2.40
8.73
0.16
5.90
38.23

2.44
0.00
0.76
21.97

10.74
0.00
5.11
25.03

10.83
0.00

9.79
0.00
5.95
30.79

Financial Statement Analysis of Non Financial Sector 2010

Indus Polyester Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

269,235

255,983

237,229

237,229

460,239
269,235
13,941
0

460,146
255,983
13,240
0

447,228
237,229
12,240
0

447,748
237,229
168,825
0

17,561
171
14,002
1,239
0
2,149
66,905
0
66,905
0

13,538
358
1,865
194
0
11,121
58,018
0
58,018
0

18,397
177
1,440
19
0
16,761
55,416
0
55,416
0

351
207
144
0
0
0
57,736
0
57,736
0

0
219,891
123,602
123,602
0
96,289

0
211,503
123,602
123,602
0
87,901

0
200,210
123,602
123,602
0
76,608

0
179,844
123,602
123,602
0
56,242

34,605
34,304
301
61,600

28,247
28,247
0
36,951

502
502
0
14,378

0
0
0
1,942

(26,995)
1,991

(8,704)
1,487

(13,876)
1,581

(1,942)
118,118

(Thousand Rupees)
2009
2010
237,229
0
447,748
237,229
168,825
0
0
0
351
207
144
0
0
0
57,736
0
57,736
0
0
0
0
0
0
179,844
123,602
123,602
0
56,242
0
0
0

237,229
0
447,748
237,229
168,825
0
0
0
351
207
144
0
0
0
57,736
0
57,736
0
0
0
0
0
0
179,844
123,602
123,602
0
56,242
0
0
0

0
0
0
1,942
0
0
(1,942)
118,118
0
118,118

0
0
0
1,942
0
0
(1,942)
118,118
0
118,118

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,991

1,487

1,581

118,118

37

24

24

24

24

24

(28,179)
146
0
0

(10,177)
141
0
0

(15,481)
3
0
0

(120,084)
0
0
0

(120,084)
0
0
0

(120,084)
0
0
0

219,891
0
(28,325)
0

211,503
0
(10,318)
0

200,210
0
(15,484)
0

179,844
0
(120,084)
0

179,844
0
(120,084)
0

179,844
0
(120,084)
0

0.02
0.11
3.58
0.12
0.26
178.01
0.30
-9.30
-12.04
-12.04

0.01
0.08
0.69
0.10
0.23
130.81
0.27
-3.66
-4.72
-4.72

0.00
4.78
3.78
0.00
0.33
2,864.14
0.28
-5.90
-7.52
-7.52

0.00

0.00

0.00

0.00
0.01

0.00
0.01

0.00
0.01

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

174

0.32
-48.70
-63.19
-63.19

0.32
-50.54
-66.77
-66.77

0.32
-50.54
-66.77
-66.77

2.47

15.15

0.35

0.00

0.00

0.00

0.00
-9.72
14.55

0.00
-9.72
14.55

0.00
-9.72
14.55

-81.43
0.00
-2.29
17.79

-36.03
0.00
-0.83
17.11

-3,083.86
0.00
-1.25
16.20

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

63,845

63,629

62,764

62,764

78,801
63,845
270
0

75,745
63,629
216
0

62,764
62,764
0
0

62,764
62,764
0
0

847
125
0
0
0
722
28,833
0
28,833
0

883
163
0
0
0
720
29,243
0
29,243
0

716
55
0
0
0
661
29,108
0
29,108
0

461
38
0
0
0
423
27,602
25,170
2,432
0

0
35,859
35,574
35,574
0
285

0
35,269
35,574
35,574
0
(305)

0
34,372
35,574
35,574
0
(1,202)

0
35,623
35,574
35,574
0
49

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
2,686

0
3,104

0
6,022

0
2,795

(Thousand Rupees)
2009
2010
89,234
0
0
0
0
0
88,960
274
305
191
0
0
0
114
1,927
0
1,927
23,166
0
23,140
0
0
26
64,446
35,574
35,574
0
(22,063)
0
(22,063)
50,935

89,234
0
0
0
0
0
88,960
274
305
191
0
0
0
114
1,927
0
1,927
23,166
0
23,140
0
0
26
64,446
35,574
35,574
0
(22,063)
0
(22,063)
50,935
0
0
0
0
0
0
0
3,167
0
3,167
989
2
2
28,947
236
0
0
1,261

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(1,975)
10
0
0

(1,988)
0
0
0

(1,010)
0
0
0

1,435
173
0
0

0
0
0
0
0
0
0
3,167
0
3,167
989
2
2
28,947
236
0
0
1,261

35,859
0
(1,985)
0

35,269
0
(1,988)
0

34,372
0
(1,010)
0

35,623
0
1,262
25,170

87,612
0
28,711
0

87,612
0
28,711
0

0.00

0.01

0.00

0.00

0.10

0.10

0.00
0.03

0.00
0.03

0.00
0.02

0.00
0.02

0.00
0.16

0.00
0.16

2,686

3,104

6,022

2,795

128

43

10

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

175

0.80
-2.84
-6.55
-6.48

0.83
-3.08
-5.59
-5.59

0.85
-1.58
-2.90
-2.90

0.77
2.27
4.10
4.10

0.39
37.90
57.85
46.98

0.39
32.33
44.92
33.04

15,236.47

15,236.47

0.00
-0.56
10.08

0.00
-0.56
9.91

0.00
-0.28
9.66

0.00
0.35
10.01

0.05
8.07
18.12

0.05
8.07
18.12

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

387

333

326

57

13,003
387
43
0

3,083
333
54
0

3,036
326
7
0

2,774
57
2,716
0

1,128
759
0
0
0
369
13,495
0
13,495
0

1,401
1,142
0
0
0
259
13,815
0
13,815
0

1,160
896
0
0
0
264
13,613
0
13,613
0

1,945
1,418
0
0
0
527
12,938
0
12,938
0

0
(11,980)
4,000
4,000
0
(15,980)

0
(12,081)
4,000
4,000
0
(16,081)

0
(12,127)
4,000
4,000
0
(16,127)

0
(10,936)
4,000
4,000
0
(14,936)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
713

0
861

0
1,186

0
923

(Thousand Rupees)
2009
2010
573
0
2,774
52
6
0
0
521
1,604
1,598
0
0
0
6
0
0
0
12,595
0
6,586
0
0
6,009
(10,418)
4,000
4,000
0
(14,418)
0
(14,418)
0

568
0
2,774
47
5
0
0
521
1,584
1,578
0
0
0
6
0
0
0
12,214
0
6,201
0
0
6,013
(10,063)
4,000
4,000
0
(14,063)
0
(14,063)
0
0
0
0
0
0
0
0
1,154
0
1,154
326
0
0
478
122
0
0
365

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

427
150
0
0

339
262
0
0

14
60
0
0

1,316
125
0
0

0
0
0
0
0
0
0
995
0
995
299
0
0
578
60
0
0
554

(11,980)
0
277
0

(12,081)
0
77
0

(12,127)
0
(46)
0

(10,936)
0
1,191
0

2,177
0
518
0

2,151
0
356
0

0.06

0.08

0.07

0.11

0.00
0.08

0.00
0.10

0.00
0.09

0.00
0.15

0.00

0.00

-1.13
30.94
-3.52
-3.52

-1.14
20.87
-2.82
-2.82

-1.12
0.87
-0.12
-0.12

-1.18
75.46
-11.41
-11.41

-1.21
27.67
-5.42
-13.20

-1.21
22.08
-4.67
22.08

0.00
0.69
-29.95

0.00
0.19
-30.20

0.00
-0.12
-30.32

0.00
2.98
-27.34

0.04
1.30
-26.04

0.03
0.89
-25.16

713

861

1,186

923

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

176

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

491,342

454,095

503,267

425,733

1,877,932
491,342
77,096
0

1,892,136
454,095
76,421
0

1,942,382
503,132
84,324
135

1,953,648
425,733
98,321
0

810,409
32,178
411,491
275,101
0
91,639
275,986
60,000
215,986
0

838,394
11,682
413,076
246,290
0
167,346
309,791
40,813
268,978
0

771,295
3,641
294,620
291,398
0
181,636
356,499
74,207
282,292
67,376

1,270,075
15,022
683,183
356,525
0
215,345
789,312
184,089
605,223
50,016

0
1,025,765
560,400
560,400
0
465,365

0
982,698
560,400
560,400
0
422,298

67,376
850,687
560,400
560,400
0
290,287

50,016
856,480
560,400
560,400
0
296,080

1,927,113
1,891,172
35,941
1,937,148

1,873,043
1,873,043
0
1,797,457

1,559,550
1,559,550
0
1,601,230

2,284,268
2,284,268
0
2,162,806

(10,035)
46,078

75,586
51,681

(41,680)
55,545

121,462
80,923

(Thousand Rupees)
2009
2010
362,415
0
1,990,974
360,693
103,427
0
0
1,722
939,751
121,015
326,747
332,029
0
159,960
365,457
41,215
324,242
37,898
0
0
0
30,602
7,296
898,811
560,400
560,400
0
338,411
0
338,411
0

315,552
0
2,030,733
293,070
108,199
0
0
22,482
1,008,315
173,384
306,111
370,895
0
157,925
417,192
0
417,192
26,093
0
0
0
26,093
0
880,582
560,400
560,400
0
320,182
0
320,182
0
3,280,755
3,280,755
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
194,106

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(58,897)
8,375
0
0

27,050
676
56,040
0

(102,945)
7,798
0
0

23,347
11,415
0
0

2,452,646
2,452,646
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
348,293

1,025,765
0
(67,272)
60,000

982,698
0
(29,666)
40,813

918,063
0
(110,743)
74,207

906,496
0
11,932
184,089

936,709
0
(21,996)
41,215

906,675
0
23,246
0

1.11
0.45
14.28
1.48
2.94
100.52
0.27
-4.43
-5.52
-5.52

0.83
0.50
13.15
1.45
2.71
95.96
0.32
2.09
2.69
2.69
0.47
4.53

0.83
0.64
18.68
1.22
2.16
102.67
0.50
-8.02
-11.23
-10.83

0.47
0.83
15.61
1.35
1.61
94.68
0.98
1.57
2.74
2.56

1.24
0.79
13.54
1.88
2.57
94.22
0.45
4.19
7.16
6.82
0.69
7.51
4.95
2.56
0.86
0.86
16.04

1.30
0.21
11.31
2.48
2.42
95.51
0.50
5.83
8.61
8.31

46,078

51,681

55,545

80,923

8,677

9,336

10,027

19,001

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.68

177

5.29

3.34

-3.06
0.00
-1.20
18.30

1.44
0.00
0.47
17.54

-6.60
0.00
-1.98
15.18

1.02
0.00
0.21
15.28

10.72
46.18
2.33
0.44
0.41
15.71

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

666,768

740,668

943,955

992,533

1,872,130
666,768
45,163
0

2,245,914
740,668
61,704
0

2,422,492
943,955
71,158
0

2,594,338
992,533
85,844
0

1,686,748
560,592
898,964
7,618
60,122
159,452
204,015
0
204,015
0

1,663,521
403,892
978,179
12,081
77,351
192,018
197,323
0
197,323
0

1,782,874
458,118
774,371
17,325
87,875
445,185
677,816
0
677,816
0

1,938,874
366,644
881,259
3,945
91,844
595,182
516,869
0
516,869
279,678

0
2,149,501
340,685
340,685
0
1,808,816

0
2,206,866
340,685
340,685
0
1,866,181

0
2,049,013
340,685
340,685
0
1,708,328

279,678
2,134,860
340,685
340,685
0
1,794,175

4,138,046
4,121,369
16,677
3,867,167

3,538,031
3,538,031
0
3,365,209

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

4,240,964
4,240,964
0
3,982,831

270,879
113,040

172,822
91,411

205,049
112,221

258,133
115,006

(Thousand Rupees)
2009
2010
1,113,163
2,845
2,634,322
969,334
88,116
0
92,064
48,920
1,609,448
527,326
607,564
5,481
0
469,077
230,032
0
230,032
263,293
0
0
0
64,871
198,422
2,229,286
340,685
340,685
0
1,888,601
71,490
1,817,111
0

1,244,063
300,143
2,650,301
907,586
85,578
0
32,150
4,184
1,558,779
168,314
687,403
61,302
0
641,760
240,394
0
240,394
261,634
0
0
0
70,672
190,962
2,300,814
340,685
340,685
0
1,960,129
71,490
1,888,639
0
4,774,324
4,774,324
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
98,235
2,562,448
0
41,871
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

258,721
97,080
136,274
0

169,119
12,660
102,206
0

165,044
19,879
85,171
0

227,539
56,428
102,206
0

4,237,268
4,237,268
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
329,278

2,149,501
0
25,367
0

2,206,866
0
54,253
0

2,049,013
0
59,994
0

2,414,538
0
68,905
0

2,492,579
0
33,846
0

113,040

91,411

112,221

115,006

1,785

1,100

2,661

2,213

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

3.08
0.04
0.18
1.76
8.27
93.45
0.09
11.23
12.81
12.81
1.19
4.60

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

178

2.50
0.03
0.34
1.47
8.43
95.12
0.09
7.11
7.76
7.76
1.53
3.62

0.83
0.06
0.42
1.51
2.63
95.04
0.33
6.43
7.76
7.76
1.70
5.33

0.89
0.05
0.09
1.45
3.75
93.91
0.37
8.04
10.88
10.20
1.67
4.81

6.25
0.00
4.74
63.09

4.78
0.00
4.59
64.78

4.00
0.00
4.26
60.14

5.37
0.00
5.02
62.66

2.32
0.08
0.13
1.56
7.00
92.92
0.22
9.24
11.97
10.64
1.25
6.97
3,036.95
6.16
0.67
4.99
65.44

0.96
0.06
1.28
1.70
6.48
90.09
0.22
10.35
12.63
11.32
1.31
6.95
57,202.00
5.99
0.20
5.23
67.53

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

903,792

868,132

825,114

782,836

1,819,031
903,161
46,286
631

1,820,556
867,783
46,496
349

1,822,875
825,047
45,055
67

1,822,875
782,836
42,211
0

639,894
163
363,053
113,032
0
163,646
989,102
270,854
718,248
80,575

728,895
1,625
329,576
98,535
0
299,159
1,040,936
233,628
807,308
83,940

356,930
2,997
25,156
1,964
0
326,813
751,172
0
751,172
302,317

321,479
969
23,363
51
0
297,096
1,008,566
0
1,008,566
353,037

80,575
474,009
150,000
150,000
0
324,009

83,940
472,151
150,000
150,000
0
322,151

302,317
128,555
150,000
150,000
0
(21,445)

353,037
(257,288)
150,000
150,000
0
(407,288)

1,322,611
1,165,568
157,043
1,193,582

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

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

0
0
0
37,389

129,029
55,369

162,316
69,225

(265,055)
38,867

(37,389)
11,602

(Thousand Rupees)
2009
2010
743,123
0
1,820,349
743,027
39,537
0
0
96
101,848
1,683
6,757
0
0
93,408
189,645
0
189,645
579,909
0
568,807
0
5,364
5,738
75,417
150,000
150,000
0
(74,583)
337,400
(411,983)
0

705,900
0
1,817,189
705,804
37,104
0
0
96
99,995
2,654
3,933
0
0
93,408
182,872
0
182,872
587,515
0
576,413
0
5,364
5,738
35,508
150,000
150,000
0
(114,492)
337,400
(451,892)
0
0
0
0
34,207
0
34,207
(34,207)
11,681
0
11,681
3,724
3
0
(39,910)
0
0
0
(7,332)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

49,422
5,107
0
0

57,754
5,026
0
0

(337,144)
1,154
0
0

(48,339)
0
0
0

0
0
0
33,474
0
33,474
(33,474)
13,448
0
13,448
2,478
32
0
(44,312)
0
0
0
193,551

554,584
0
44,315
270,854

556,091
0
52,728
233,628

430,872
0
(338,298)
0

95,749
0
(48,339)
0

655,326
0
(44,312)
0

623,023
0
(39,910)
0

0.11
2.91
8.55
0.86
0.65
90.24
2.26
3.23
10.94
8.21

0.10
4.41
9.80
0.63
0.70
83.85
2.38
3.68
12.21
10.40

0.01
9.25
0.51
0.33
0.48
168.97
8.19
-24.26
-112.25
-68.32

0.00

0.01

0.01

0.00
0.32

0.00
0.54

0.00
0.55

55,369

69,225

38,867

11,602

38,503

44,334

35,552

2,138

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

179

-5.29
-4.23
75.10
-18.36

10.20
-4.55
48.73
-11.80

21.70
-4.83
-71.96
-6.24

3.64

3.05

15.28

0.00

0.00

0.00

0.00
-3.22
-17.15

0.25
-2.95
5.03

-0.01
-2.66
2.37

3.74
0.00
2.95
31.60

5.74
0.00
3.52
31.48

-87.73
0.00
-22.55
8.57

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

244,915

239,389

235,994

754,940

410,437
244,915
7,717
0

412,351
239,389
7,440
0

416,020
235,994
7,064
0

342,572
754,940
7,607
0

395,323
1,520
103,740
0
168,675
121,388
280,832
163,509
117,323
20,987

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

488,077
4,493
89,639
5,754
298,362
89,829
295,577
214,003
81,574
7,382

448,218
2,375
90,450
33,991
2,550
318,852
257,545
228,117
29,428
22,682

6,382

6,382

6,382

14,605
338,419
37,450
37,450
0
300,969

7,730
371,327
37,450
37,450
0
333,877

1,000
421,112
37,450
37,450
0
383,662

22,682
922,931
37,450
37,450
0
885,481

208,554
167,902
40,652
202,526

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

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

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

6,028
27,619

8,548
23,368

494
28,550

9,308
35,816

(Thousand Rupees)
2009
2010
811,866
0
942,614
746,875
8,107
0
2,550
62,441
199,731
2,642
101,728
5,676
44,386
45,298
194,576
0
194,576
23,104
0
0
0
0
23,104
793,917
37,450
37,450
0
37,032
0
37,032
719,435

811,866
0
942,614
746,875
8,107
0
2,550
62,441
199,731
2,642
101,728
5,676
44,386
45,298
194,576
0
194,576
23,104
0
0
0
0
23,104
793,917
37,450
37,450
0
37,032
0
37,032
719,435
344,967
344,967
0
296,144
197,717
98,427
48,823
31,262
5,574
25,688
75,889
43,532
42,771
(22,132)
0
0
0
(10,342)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(20,142)
933
1,872
0

4,968
1,030
1,873
0

(7,627)
1,163
0
0

24,278
1,243
0
0

344,967
344,967
0
296,144
197,717
98,427
48,823
31,262
5,574
25,688
75,889
43,532
42,771
(22,132)
0
0
0
(10,342)

359,406
6,382
(22,947)
169,891

385,439
6,382
2,065
177,055

428,494
6,382
(8,790)
220,385

945,613
0
23,035
228,117

817,021
0
(22,132)
0

817,021
0
(22,132)
0

0.61
4.60
0.00
0.33
1.41
97.11
0.89
-3.33
-5.28
-5.01
-11.26
2.01

0.92
11.17
6.10
0.32
1.55
95.85
0.76
0.77
1.40
1.33
2.10
3.23

1.04
11.57
2.43
0.33
1.65
99.79
0.72
-1.11
-1.92
-1.87

0.15
12.57
13.40
0.21
1.74
96.33
0.30
2.52
3.61
3.53

0.27
12.62
1.65
0.34
1.03
85.85
0.27
-2.00
-2.58
-2.51

0.27
12.62
1.65
0.34
1.03
85.85
0.27
-2.19
-2.79
-2.71

27,619

23,368

28,550

35,816

9,593

23,011

27,357

31,893

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

180

2.64

2.81

3.39
0.48
-6.42
-0.05
-5.91
211.99

3.39
0.48
-6.42
-0.05
-5.91
211.99

-9.66
0.00
-5.63
90.37

2.41
0.00
1.05
99.15

-3.23
0.00
-2.35
112.45

9.57
0.00
6.15
246.44

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

127,262

138,518

149,480

171,672

200,644
127,262
9,056
0

220,362
138,518
9,278
0

240,839
149,480
11,932
0

268,800
171,672
11,238
0

67,079
2,895
20,428
29,500
0
14,256
113,113
33,049
80,064
5,268

71,962
1,077
22,465
37,080
0
11,340
129,772
34,430
95,342
6,441

61,249
1,735
17,833
24,335
0
17,346
133,710
19,545
114,165
11,847

101,264
9,332
29,364
27,377
0
35,191
188,248
27,096
161,152
11,160

5,268
75,960
11,109
11,109
0
64,851

6,441
74,267
11,109
11,109
0
63,158

11,847
65,172
11,109
11,109
0
54,063

11,160
73,528
11,109
11,109
0
62,419

270,221
266,253
3,968
242,476

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

302,956
0
302,956
279,479

321,137
0
321,137
300,632

27,745
18,460

26,499
21,114

23,477
17,057

20,505
15,228

(Thousand Rupees)
2009
2010
160,148
0
268,800
157,175
13,496
0
0
2,973
70,846
1,894
23,803
23,340
0
21,808
58,572
4,616
53,957
102,485
3,594
92,089
0
5,385
1,417
69,937
11,109
11,109
0
9,449
0
9,449
49,379

177,807
0
253,656
174,339
11,613
0
0
3,468
74,972
2,463
22,046
23,187
0
27,276
74,386
8,144
66,242
107,590
4,551
97,089
0
5,951
0
70,802
11,109
11,109
0
10,313
0
10,313
49,379
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
5,566

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

6,262
1,185
1,333
0

640
1,474
1,111
0

594
1,543
0
0

2,983
1,617
0
0

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
(658)
202
0
0
13,113

81,228
0
3,744
33,049

80,708
0
(1,945)
34,430

77,019
0
(949)
19,545

84,688
0
1,366
27,096

172,422
3,594
(859)
8,209

178,392
4,551
(1,228)
12,695

0.29
1.36
10.92
1.39
0.59
89.73
1.56
3.43
8.71
8.40
3.81
13.23

0.29
1.92
13.32
1.32
0.55
90.48
1.83
0.32
0.85
0.79
-0.75
12.39

0.19
2.54
8.03
1.44
0.46
92.25
2.23
0.28
0.85
0.75

0.20
1.91
8.53
1.18
0.54
93.61
2.71
1.23
4.30
3.69

0.43
0.96
5.97
1.69
1.21
95.19
2.30
-0.26
-0.92
-0.51

0.34
1.17
6.13
1.50
1.01
94.36
2.57
0.76
2.60
1.04
-0.10
17.15
1.64
0.48
0.03
-0.10
63.73

18,460

21,114

17,057

15,228

3,666

5,334

7,680

6,144

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

181

16.99

10.94

16.42
0.74
-0.17
0.08
-0.77
62.95

2.32
0.00
4.57
68.38

0.23
0.00
-0.75
66.85

0.20
0.00
-0.85
58.67

0.93
0.00
1.23
66.19

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

440,188

309,610

298,852

288,514

614,985
440,188
4,771
0

615,009
309,610
11,211
0

615,009
298,852
10,758
0

614,609
288,514
10,326
0

130,232
1,639
0
1,001
34,511
93,081
317,270
0
317,270
204,524

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

170,448
9
4,935
147
150,369
14,988
162,674
0
162,674
0

50,013
5
1,531
172
34,511
13,794
161,029
15,750
145,279
0

169,560

34,964
48,626
214,657
214,657
0
(166,031)

23,625
290,007
214,657
214,657
0
75,350

0
306,626
214,657
214,657
0
91,969

0
177,498
214,657
214,657
0
(37,159)

17,677
17,677
0
47,686

1,877
1,877
0
12,725

29,065
29,065
0
34,302

3,100
3,100
0
13,896

(30,009)
40,719

(10,848)
1,099

(5,237)
932

(10,796)
901

(Thousand Rupees)
2009
2010
313,139
0
614,609
278,595
9,919
0
34,511
33
14,519
133
410
212
0
13,765
15,702
0
15,702
153,140
0
153,140
0
0
0
158,817
214,657
214,657
0
(55,840)
39,387
(95,227)
0

313,139
0
614,609
278,595
9,919
0
34,511
33
14,519
133
410
212
0
13,765
15,702
0
15,702
153,140
0
153,140
0
0
0
158,817
214,657
214,657
0
(55,840)
39,387
(95,227)
0
1,550
1,550
0
11,094
0
11,094
(9,544)
654
11
643
25
2
0
(10,080)
6
0
0
1,047

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(70,494)
0
0
0

(11,827)
9
0
0

(6,048)
145
0
0

(12,053)
15
0
0

1,550
1,550
0
11,094
0
11,094
(9,544)
654
11
643
25
2
0
(10,080)
6
0
0
1,047

253,150
169,560
(70,494)
169,560

313,632
0
(11,836)
58,079

306,626
0
(6,193)
0

177,498
0
(12,068)
15,750

311,957
0
(10,086)
0

311,957
0
(10,086)
0

0.12
0.00
5.66
0.03
0.41
269.76
10.73
-12.36
-144.97
-27.85

0.75
0.00
2.50
0.00
1.03
677.94
0.62
-2.28
-6.99
-4.17

0.93
0.00
0.51
0.06
1.05
118.02
0.53
-1.29
-2.03
-1.95

0.22
21.94
5.55
0.01
0.31
448.26
0.91
-2.98
-4.98
-4.98

0.02
0.11
13.66
0.00
0.92
715.77
1.06
-3.03
-5.99
-4.12

0.02
0.11
13.66
0.00
0.92
715.77
1.06
-3.08
-6.35
-3.23

0.05

5.89

2.02

3.79

3.79

-398.79
0.00
-3.28
2.27

-630.10
0.00
-0.55
13.51

-20.81
0.00
-0.29
14.28

-388.81
0.00
-0.56
8.27

-650.34
0.01
-0.47
7.40

-650.34
0.01
-0.47
7.40

40,719

1,099

932

901

680

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

182

FOOD

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

42,975,062

52,266,922

58,263,535

72,014,616

69,096,673
42,451,162
3,113,914
523,900

80,737,831
51,758,183
3,418,615
508,739

90,582,196
57,801,327
4,681,418
462,208

106,983,528
71,057,604
4,670,296
957,012

38,881,979
4,194,345
14,382,254
2,699,383
6,075,433
11,530,564
46,260,607
19,544,526
26,716,081
14,011,268

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

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

62,306,422
3,176,889
28,517,439
6,348,583
5,682,571
18,580,940
80,265,311
32,869,478
47,395,833
21,199,784

128,823

12,495

13,882,445
21,585,166
8,589,698
8,364,591
225,107
12,995,468

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

14,659,357
27,440,800
9,528,077
9,455,077
73,000
17,912,723

21,199,784
32,855,943
9,900,358
9,822,575
77,783
22,955,585

109,148,407
102,796,056
6,352,351
88,225,737

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

150,160,373
142,614,873
7,545,500
123,173,540

191,071,729
175,067,233
16,004,496
154,742,139

20,922,670
11,895,770

25,401,173
14,988,046

26,986,833
17,926,813

36,329,590
22,208,245

(Thousand Rupees)
2009
2010
92,147,055
4,475,530
122,020,132
79,741,949
5,970,163
1,259,712
4,056,255
2,613,609
54,973,861
4,760,072
28,330,111
4,122,967
616,985
17,143,727
65,602,249
30,003,140
35,599,109
40,707,797
17,229,410
9,856,870
0
610,248
13,011,270
40,810,872
11,188,197
11,115,697
72,500
16,874,473
2,553,550
6,566,624
12,748,202

101,103,812
7,058,105
127,395,241
83,498,541
5,903,349
1,749,745
4,669,953
4,127,469
60,309,818
6,431,343
29,377,211
4,679,869
865,683
18,955,711
70,355,950
31,000,031
39,355,919
39,907,574
14,896,062
11,054,578
392,818
651,032
12,913,083
51,150,106
12,434,606
12,362,106
72,500
22,041,652
3,445,288
9,125,399
16,673,847
273,181,951
255,408,166
17,773,785
219,854,599
178,195,810
41,658,789
53,327,351
27,137,835
18,174,941
8,962,894
13,103,131
8,142,074
7,005,204
19,476,905
6,492,592
6,129,199
1,666,601
20,600,651

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

8,410,034
2,141,012
2,409,115
96,766

8,173,213
2,062,590
9,388,956
166,693

7,320,645
2,388,852
3,931,077
181,771

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

35,596,434
128,823
3,859,907
19,673,349

38,427,670
12,495
(3,278,333)
25,129,387

42,100,157
0
1,000,716
28,952,468

54,055,727
0
1,667,675
32,869,478

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

91,057,680
15,288,881
6,855,113
46,288,912

0.28
1.87
2.47
1.33
0.84
80.83
2.79
11.35
45.15
26.12
2.60
7.59

0.23
2.84
2.10
1.43
0.77
81.90
2.94
9.09
35.19
22.08
0.65
8.02

0.21
3.52
2.57
1.35
0.77
82.03
3.06
7.00
27.99
18.18
1.25
6.91

0.19
3.42
3.32
1.42
0.78
80.99
3.09
7.88
32.12
20.14
1.36
6.70

0.14
4.37
2.05
1.37
0.84
76.85
2.60
10.73
41.00
22.28
2.10
7.11
2.97
7.50
0.22
8.92
34.76

0.17
2.98
1.71
1.69
0.86
80.48
2.16
12.82
42.36
22.57
2.12
9.30
3.78
7.13
0.19
9.91
39.03

11,895,770

14,988,046

17,926,813

22,208,245

2,041,432

3,983,415

5,292,621

6,533,330

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

185

7.71
0.00
7.55
25.98

5.82
0.00
6.80
27.68

4.88
0.00
5.24
29.16

5.07
0.00
6.52
34.04

Growth with Composition of Assets & Liabilites

120

30%

100

25.3% 25%
20%

Billion Rs

80

15%

9.7%

9.7%

60

10%

7.2%

40

5%

20

0%

-2.0%

-5%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

300

2010

Growth
40%

35.6%

35%

Billion Rs

250

30%

29.0%

200

25%

150

20%
15%

14.4%

100

10%
50

5%

0%

Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
41

42.36

22.28

2009

10

2010

22.57

10.73 12.82

Percentage

Percentage

45
40
35
30
25
20
15
10
5
0

Return on
Capital
Emloyed

2009

9.91

2010
8.92

7.5

7.13

2.60

2.16
2

Return on
Return on
Assets
Equity

Net Profit Before Tax

0.84 0.86

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

30,178,421

35,782,227

38,082,204

46,934,891

48,185,720
30,175,294
1,826,114
3,127

55,646,640
35,747,694
2,023,025
34,533

59,934,342
38,045,281
2,798,550
36,923

69,830,500
46,354,656
2,657,270
580,235

24,642,353
2,146,595
7,562,062
1,463,554
5,814,272
7,655,870
30,697,281
14,657,703
16,039,578
10,938,032

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

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

36,524,492
2,163,198
14,189,541
3,606,937
4,266,117
12,298,699
51,540,582
22,234,082
29,306,500
14,119,210

128,823

12,495

10,809,209
13,185,461
6,044,922
5,892,815
152,107
7,140,539

12,334,644
15,754,034
6,206,456
6,206,456
0
9,547,578

13,075,079
16,036,877
6,942,986
6,942,986
0
9,093,891

14,119,210
17,799,591
7,334,284
7,334,284
0
10,465,307

47,405,344
42,841,929
4,563,415
41,879,283

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

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

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

5,526,061
2,209,180

6,391,469
2,897,309

3,605,186
3,058,297

8,431,337
4,370,926

(Thousand Rupees)
2009
2010
62,955,810
2,267,020
81,824,318
55,311,778
3,505,108
627,470
3,012,081
1,737,461
25,816,678
2,819,664
13,867,462
1,575,721
554,071
6,999,760
36,185,115
25,121,344
11,063,772
30,282,731
15,836,638
5,250,895
0
283,188
8,912,011
22,520,165
8,488,374
8,487,874
500
4,071,178
2,164,031
2,273,163
9,960,613

67,604,658
2,292,069
87,916,142
57,594,518
3,488,928
625,505
3,495,372
3,597,195
28,796,967
3,038,092
10,615,899
2,169,654
734,636
12,238,685
38,899,187
23,069,602
15,829,585
28,654,872
13,718,413
5,408,467
392,818
292,230
8,842,943
28,847,566
9,354,967
9,354,467
500
5,689,676
2,542,384
3,147,293
13,802,922
130,616,842
122,423,407
8,193,435
116,149,477
99,409,448
16,740,029
14,467,364
4,525,543
752,915
3,772,628
5,244,639
6,604,765
6,437,764
4,092,134
1,691,067
1,043,479
241,631
6,934,265

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,528,828
568,220
356,227
78,842

1,503,757
410,750
261,213
146,811

(581,597)
343,417
223,586
135,072

591,121
425,168
521,747
177,176

84,625,662
78,072,222
6,553,440
71,684,849
56,567,129
15,117,720
12,940,813
4,927,880
819,566
4,108,314
5,682,380
7,090,556
6,923,362
3,121,186
840,644
886,929
176,842
8,991,841

24,123,493
128,823
1,604,381
14,786,526

28,101,173
12,495
831,794
18,271,297

29,111,956
0
(1,148,600)
21,858,526

31,918,801
0
(355,794)
22,234,082

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

57,502,438
14,111,232
1,357,587
37,180,834

0.31
3.36
3.09
0.86
0.80
88.34
3.16
5.13
22.04
11.43
5.50
6.27

0.27
4.82
2.03
1.02
0.79
90.29
3.10
2.52
10.39
5.76
4.18
7.06

0.25
6.94
3.03
0.85
0.78
94.03
3.41
-0.86
-3.66
-2.03
-4.14
5.28

0.19
6.34
4.67
0.93
0.71
89.08
3.69
0.77
3.49
1.94
0.32
5.44

0.14
8.38
1.86
0.95
0.71
84.71
2.95
3.62
15.48
7.37
2.57
6.10
1.45
3.69
0.14
2.49
24.56

0.15
5.06
1.66
1.35
0.74
88.92
2.34
4.42
15.93
7.42
2.30
12.30
1.64
3.13
0.10
2.36
28.41

2,209,180

2,897,309

3,058,297

4,370,926

1,591,449

3,172,437

4,193,422

4,896,627

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

187

5.33
0.00
3.08
20.70

2.28
0.00
1.68
24.23

-0.96
0.00
-1.24
21.58

0.77
0.00
0.22
23.13

Growth with Composition of Assets & Liabilites

Billion Rs

80
70
60
50
40
30
20
10
0

28.1% 30%
25%
20%
15%
10%
7.4%
5%
0%
-5.8%
-4.4%
-5%
-5.4%
-10%
Non-Current Current Assets
Current
Non-Current
Shareholders
Assets
Liabilities
Laibilities
Equity
2009
2010
Growth

Growth & Composition of Operations

2009

2010

Growth
60%

54.3%

140
120

50%

Billion Rs

100

40%

80

31.1%

30%

60

20%

40

11.8%

20

10%

0%
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
16

15.48 15.93

14

Percentage

2009
2010

12

3.15

3.5
3

3.53 4.42

Percentage

7.37 7.42

2009

3.69

10
8
6
4
2
0

Net Profit Before Tax

3.13

2010

2.49 2.36

2.34

2.5
2

1.5
1

0.75 0.74

0.5
Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

396,141

393,173

384,382

395,322

756,128
396,141
21,419
0

774,018
393,173
20,858
0

785,167
384,382
19,941
0

815,721
395,322
20,462
0

154,385
104
0
4
0
154,277
1,110,518
70,171
1,040,347
109,661

116,480
2,991
0
0
0
113,489
1,205,359
0
1,205,359
0

74,773
842
0
0
0
73,931
1,179,037
3,010
1,176,027
0

91,092
11,165
0
0
0
79,927
1,065,446
0
1,065,446
0

109,661
(669,653)
146,667
146,667
0
(816,320)

0
(695,706)
146,667
146,667
0
(842,373)

0
(719,882)
146,667
146,667
0
(866,549)

0
(579,032)
146,667
146,667
0
(725,699)

75,353
75,353
0
105,193

106,793
106,793
0
132,678

123,560
123,560
0
141,774

198,914
198,914
0
156,737

(29,840)
29,698

(25,885)
9,653

(18,214)
7,767

42,177
18,886

(Thousand Rupees)
2009
2010
573,619
220,908
793,815
351,657
21,759
0
0
1,055
336,523
59,921
109,737
0
0
166,865
274,863
0
274,863
1,120,104
0
435,551
0
0
684,553
(484,825)
146,667
146,667
0
(695,878)
0
(695,878)
64,386

752,031
391,222
819,304
356,155
20,991
0
0
4,654
586,848
95,178
274,773
0
0
216,896
584,346
379,924
204,422
551,662
20,068
509,882
0
0
21,713
202,871
792,617
792,617
0
(650,314)
0
(650,314)
60,568
1,249,555
1,249,555
0
1,112,092
997,538
114,554
137,463
30,329
954
29,375
13,820
78,401
73,149
38,085
12,496
0
0
(218,333)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(10,209)
328
0
0

(33,153)
464
0
0

(26,096)
537
0
0

138,554
0
0
0

728,138
728,138
0
560,525
478,176
82,349
167,613
31,473
0
31,473
16,712
40,495
39,355
95,645
3,641
0
0
131,186

(559,992)
0
(10,537)
70,171

(695,706)
0
(33,617)
0

(719,882)
0
(26,633)
3,010

(579,032)
0
138,554
0

635,279
0
92,005
0

754,533
20,068
25,590
399,992

0.00
0.09
0.01
0.14
0.14
139.60
-1.82
-2.06
1.53
4.37

0.00
0.09
0.00
0.21
0.10
124.24
-1.73
-6.25
4.86
5.28

0.00
0.09
0.00
0.27
0.06
114.74
-1.64
-5.39
3.69
3.69

0.01
6.99
0.00
0.41
0.09
78.80
-1.84
29.31
-21.33
-21.33

0.22
5.56
0.00
0.80
1.22
76.98
-2.88
13.70
-17.98
340.09

0.16
6.27
0.00
0.93
1.00
89.00
5.60
3.39
-27.02
5.48

-13.55
0.00
-0.72
-45.66

-31.04
0.00
-2.29
-47.43

-21.12
0.00
-1.82
-49.08

69.66
0.00
9.45
-39.48

29,698

9,653

7,767

18,886

69

97

115

13,904

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

189

6.64
3.43
13.14
0.09
6.27
-33.06

4.55
1.52
3.05
-0.19
0.32
2.56

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

286,075

753,498

742,762

800,512

493,799
286,075
16,768
0

1,000,279
753,498
40,327
0

1,027,862
742,762
38,712
0

1,124,660
800,512
39,046
0

347,167
28,090
242,393
0
0
76,684
460,301
114,428
345,873
32,887

407,203
18,684
289,612
2,698
0
96,209
495,249
169,420
325,829
18,411

397,393
21,335
267,296
0
0
108,762
710,484
236,410
474,074
23,758

517,886
46,142
173,825
197,562
0
100,357
560,031
348,143
211,888
313,940

32,887
140,054
57,636
57,636
0
82,418

18,411
647,041
57,636
57,636
0
589,405

23,758
405,913
57,636
57,636
0
348,277

313,940
444,427
57,637
57,637
0
386,790

615,280
615,280
0
543,188

901,844
901,844
0
868,831

604,741
604,741
0
728,633

1,042,279
1,017,860
24,419
904,084

72,092
28,046

33,013
28,424

(123,892)
24,830

138,195
35,195

(Thousand Rupees)
2009
2010
847,793
0
1,210,293
846,516
41,508
0
0
1,277
425,013
55,102
284,680
0
0
85,232
302,494
69,329
233,165
503,693
55,288
239,324
0
0
209,081
466,620
57,637
57,637
0
128,352
0
128,352
280,632

828,315
1,772
1,232,819
824,398
44,644
867
0
1,277
350,467
34,085
8,449
222,549
0
85,384
123,422
20,156
103,266
501,708
34,657
239,324
0
0
227,727
553,652
57,637
57,637
0
228,038
0
228,038
267,977
2,138,541
2,138,541
0
1,920,021
1,495,508
424,513
218,520
25,668
1,066
24,602
18,388
46,594
45,280
152,095
34,043
14,409
0
174,085

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

22,945
1,739
2,809
0

41,754
0
0

(172,686)
2,642
0
0

63,392
261
0
0

1,156,966
1,156,966
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
283,908

172,941
0
18,397
114,428

665,452
0
41,754
169,420

429,671
0
(175,328)
236,410

758,367
0
63,131
348,143

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

1,055,360
34,657
103,642
54,813

0.06
3.44
0.00
0.97
0.75
88.28
3.52
3.66
17.57
13.53
7.55
2.54

0.04
3.38
0.30
0.78
0.82
96.34
0.79
4.65
10.61
9.96

0.03
4.28
0.00
0.53
0.56
120.49
1.81
-15.01
-32.80
-31.54

0.44
3.99
18.95
0.79
0.92
86.74
1.97
5.16
14.91
10.67

0.18
5.00
0.00
0.91
1.41
76.71
1.73
14.27
40.59
21.39
31.08
4.06
4.26
15.98
0.35
31.08
80.96

2.08
2.18
10.41
1.81
2.84
89.78
1.13
12.41
29.81
15.02
8.19
253.11
4.36
7.11
0.28
20.48
96.06

28,046

28,424

24,830

35,195

21,138

30,498

25,900

41,604

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

190

3.11

2.26

6.00

3.73
0.00
3.68
24.30

4.63
0.00
7.24
112.26

-28.56
0.00
-30.42
70.43

6.08
0.00
10.95
77.11

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

887,800

843,213

803,884

2,082,835

1,384,192
887,300
71,876
500

1,388,597
843,113
68,212
100

1,429,910
803,884
63,347
0

2,855,262
2,082,835
120,517
0

793,985
6,665
555,913
8,014
0
223,393
944,942
300,535
644,407
0

835,332
10,907
612,481
43,686
0
168,258
932,956
530,118
402,838
93,182

659,198
32,378
300,953
121,125
30,750
173,992
719,556
353,549
366,007
18,637

1,685,877
48,417
1,036,195
37,997
46,432
516,836
1,820,627
653,603
1,167,024
1,078,295

0
736,843
173,623
173,623
0
563,220

93,182
652,407
173,623
173,623
0
478,784

18,637
724,889
173,623
173,623
0
551,266

1,078,295
869,790
173,623
173,623
0
696,167

1,845,702
1,116,954
728,748
1,651,736

2,514,380
1,702,744
811,636
2,316,212

2,842,348
1,387,822
1,454,526
2,590,847

2,931,151
1,476,625
1,454,526
2,719,120

193,966
99,700

198,168
99,075

251,501
160,913

212,031
162,126

(Thousand Rupees)
2009
2010
2,376,551
65,910
3,163,910
2,249,724
145,233
16,358
28,629
15,930
1,356,024
12,504
813,761
208,254
19,500
302,005
1,356,169
688,035
668,134
1,250,780
874,974
301,346
0
0
74,460
1,125,626
173,623
173,623
0
952,003
952,003
0
0

2,066,027
149,049
2,864,195
1,860,428
123,173
10,768
14,502
31,280
1,978,989
29,613
991,194
343,043
11,550
603,589
2,100,974
1,077,504
1,023,470
697,141
260,820
0
392,818
0
43,503
1,246,901
173,623
173,623
0
1,073,278
1,073,278
0
0
6,352,884
3,903,418
2,449,466
5,596,344
5,232,426
363,918
756,540
248,756
105,561
143,195
46,369
294,245
287,289
276,059
63,791
86,812
0
303,131

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

70,492
8,680
60,768
0

31,655
11,705
0
0

173,336
13,369
0
0

104,333
45,188
26,043
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
627,689

736,843
0
1,044
300,535

745,589
0
19,950
530,118

743,526
0
159,967
353,549

1,948,085
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

0.02
1.98
0.43
1.10
0.84
89.49
1.28
4.04
10.27
8.84
1.02
3.32

0.06
2.88
1.74
1.50
0.90
92.12
1.57
1.88
4.56
4.27

0.26
2.95
4.26
1.94
0.92
91.15
1.02
11.03
25.17
23.28

0.07
3.58
1.30
0.78
0.93
92.77
3.33
3.99
13.09
7.75
2.27
2.83

0.18
6.52
5.00
1.12
1.00
81.15
2.32
8.99
33.79
15.59
4.55
5.12
2.27
8.09
0.24
18.21
64.83

0.18
4.63
5.40
1.57
0.94
88.09
2.24
7.10
23.27
12.78
2.45
6.41
1.96
4.35
0.11
12.23
71.82

99,700

99,075

160,913

162,126

36,564

72,310

83,784

104,951

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

191

4.11

9.44

3.82
0.00
3.56
42.44

1.26
0.00
1.15
37.58

6.10
0.00
9.21
41.75

3.56
0.00
3.41
50.10

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,456,103

1,472,955

1,527,982

2,264,422

2,386,871
1,456,103
108,439
0

2,513,005
1,472,955
109,311
0

2,680,866
1,527,982
113,739
0

3,345,655
2,264,422
116,012
0

737,715
65,088
207,485
99,352
31,718
334,072
1,144,312
641,714
502,598
225,287

600,705
48,694
230,809
43,166
8,607
269,429
1,005,591
502,948
502,643
145,038

810,082
47,597
393,723
144,861
10,263
213,638
1,074,601
389,634
684,967
395,840

1,511,304
86,263
1,009,052
11,314
37,751
366,924
2,037,889
986,492
1,051,397
265,761

79,982

145,305
824,219
185,703
185,703
0
638,516

145,038
923,031
185,703
185,703
0
737,328

395,840
867,623
185,703
185,703
0
681,920

265,761
1,472,076
185,703
185,703
0
1,286,373

1,927,879
1,720,162
207,717
1,630,175

3,058,073
2,764,073
294,000
2,642,766

2,722,384
2,470,991
251,393
2,395,181

3,145,250
2,521,130
624,120
2,582,319

297,704
92,833

415,307
119,600

327,203
131,707

562,931
237,314

(Thousand Rupees)
2009
2010
2,480,127
111,297
3,655,933
2,216,624
169,562
0
143,772
8,434
1,322,595
107,769
963,870
0
0
250,956
1,283,079
855,132
427,947
877,137
357,994
0
0
27,622
491,521
1,642,506
185,703
185,703
0
691,371
0
0
765,432

2,835,039
164,616
4,143,691
2,517,325
187,573
0
143,934
9,164
1,389,425
140,429
965,121
0
0
283,875
1,431,018
718,032
712,986
970,364
407,445
0
0
0
562,919
1,823,082
185,703
185,703
0
928,612
0
928,612
708,767
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
532,050

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

100,027
9,106
0
0

182,154
14,188
0
0

39,759
12,824
30,000
0

244,243
11,290
55,711
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
231,521

1,049,506
79,982
90,921
721,696

1,068,069
0
167,966
502,948

1,263,463
0
(3,065)
389,634

1,737,837
0
177,242
986,492

2,519,643
357,994
101,444
1,213,126

2,793,446
407,445
232,325
1,125,477

0.17
5.61
5.15
0.88
0.64
84.56
1.66
4.65
12.13
9.28

0.10
4.11
1.41
1.47
0.60
86.42
1.25
8.54
20.85
17.20

0.19
5.97
5.32
1.16
0.75
87.98
1.69
1.80
4.44
3.41
0.90
6.91

0.07
5.80
0.36
0.83
0.74
82.10
1.56
7.99
20.88
16.28
4.18
3.12

0.08
6.80
0.00
1.12
1.03
83.93
1.32
5.56
13.53
9.90
2.37
4.41
1.75
4.96
0.11
9.46
88.45

0.10
5.23
0.00
1.49
0.97
84.13
1.32
9.75
22.59
14.74
3.50
6.54
2.21
6.20
0.22
17.51
98.17

92,833

119,600

131,707

237,314

108,062

125,693

162,456

182,298

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

9.29

13.25

5.19
0.00
4.90
44.38

5.96
0.00
9.04
49.70

1.46
0.00
1.45
46.72

7.77
0.00
12.54
79.27

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

797,911

768,342

730,194

730,194

1,314,183
797,911
44,077
0

1,326,538
768,342
44,429
0

1,329,270
730,194
42,663
0

1,329,270
730,194
42,663
0

221,922
90,557
43,139
0
0
88,226
562,123
207,568
354,555
487,343

379,008
123,603
130,761
7,029
0
117,615
622,556
232,180
390,376
448,484

330,852
16,354
104,602
80,120
0
129,776
657,688
264,675
393,013
406,307

330,852
16,354
104,602
80,120
0
129,776
657,688
264,675
393,013
406,307

487,343
(29,633)
244,072
244,072
0
(273,705)

448,484
76,310
244,071
244,071
0
(167,761)

406,307
(2,949)
244,072
244,072
0
(247,021)

406,307
(2,949)
244,072
244,072
0
(247,021)

957,865
957,865
0
939,193

1,574,714
1,574,714
0
1,372,513

1,580,281
1,580,281
0
1,584,764

1,580,281
1,580,281
0
1,584,764

18,672
48,691

202,201
54,280

(4,483)
56,651

(4,483)
56,651

(Thousand Rupees)
2009
2010
1,399,558
0
1,943,220
1,266,002
45,202
0
75,093
58,463
704,106
13,824
357,304
158,294
0
174,684
366,682
242,882
123,800
1,276,185
779,151
142,172
0
5,889
348,974
460,797
244,072
244,072
0
216,725
0
216,725
0

2,223,067
0
2,849,784
2,082,902
90,035
0
81,626
58,539
659,864
8,410
285,804
93,548
0
272,103
574,275
474,812
99,463
1,294,670
826,551
162,172
0
5,968
299,979
1,013,987
244,072
244,072
0
43,811
0
43,811
726,104
2,635,631
2,635,631
0
2,627,698
2,558,391
69,307
7,933
51,194
2,522
48,672
88,769
131,553
130,603
(168,255)
26,356
0
0
(96,642)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(35,758)
4,164
0
0

135,064
6,843
0
0

(72,391)
6,869
0
0

(72,391)
6,869
0
0

1,269,457
1,269,457
0
1,166,379
1,278,609
(112,229)
103,078
55,792
2,079
53,712
89,198
71,295
70,371
464,833
6,347
0
0
(304,480)

457,710
0
(39,922)
207,568

524,794
0
128,221
232,180

403,358
0
(79,260)
264,675

403,358
0
(79,260)
264,675

1,736,982
779,151
458,486
1,022,033

2,308,657
826,551
(194,612)
1,301,363

0.16
1.42
0.00
0.94
0.39
98.05
-35.42
-3.31
68.84
-7.23

0.21
0.86
0.45
1.37
0.61
87.16
14.04
12.46
578.72
27.49

0.15
0.82
5.07
1.49
0.50
100.28
-360.80
-6.56
-197.36
-15.60

0.15
0.82
5.07
1.49
0.50
100.28
-360.80
-6.82
2,454.76
-17.95

0.47
5.62
12.47
0.60
1.92
91.88
3.57
29.38
203.05
43.44

0.18
4.99
3.55
0.91
1.15
99.70
1.84
-6.75
-22.82
-8.32

48,691

54,280

56,651

56,651

13,626

13,468

12,907

12,907

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

193

22.20

12.04

15.11

15.11

3.55
7.61
36.62
-0.19
18.78
18.88

9.22
-0.29
-6.38
-0.05
-7.97
41.54

-3.73
0.00
-1.64
-1.21

8.58
0.00
5.25
3.13

-4.58
0.00
-3.25
-0.12

-4.58
0.00
-3.25
-0.12

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

220,031

341,093

360,569

1,132,697

639,786
220,031
11,104
0

772,123
341,093
11,448
0

803,808
360,569
12,210
0

1,589,050
1,132,697
13,114
0

612,532
50,582
248,063
0
215,000
98,887
647,462
469,753
177,709
194,285

464,821
79,006
238,426
1,991
0
145,398
586,758
362,602
224,156
134,892

592,573
71,425
406,537
1,189
0
113,422
873,840
627,787
246,053
148,787

155,680
29,413
6,525
663
0
119,079
605,095
57,006
548,089
210,636

194,285
(9,184)
94,500
94,500
0
(103,684)

134,892
84,264
94,500
94,500
0
(10,236)

148,787
(69,485)
94,500
94,500
0
(163,985)

210,636
472,646
94,500
94,500
0
378,146

703,173
703,173
0
585,154

947,795
947,795
0
846,692

588,743
588,743
0
585,960

1,308,397
1,308,397
0
1,251,456

118,019
37,651

101,103
43,187

2,783
45,732

56,941
45,967

(Thousand Rupees)
2009
2010
1,104,668
4,338
1,584,375
1,075,010
53,011
0
0
25,320
111,586
7,925
4,185
191
0
99,285
346,911
38,674
308,237
502,616
167,621
143,400
0
0
191,596
366,727
94,500
94,500
0
(322,859)
0
0
595,086

1,047,777
0
1,589,299
1,026,557
52,855
0
0
21,220
120,245
2,098
9,752
0
0
108,395
168,040
50,237
117,803
950,146
113,132
641,097
0
0
195,917
49,836
94,500
94,500
0
(616,117)
0
(616,117)
571,453
657,510
657,510
0
858,295
728,679
129,616
(200,786)
54,284
2,355
51,929
67,601
59,021
58,756
(305,597)
6,973
0
0
(473,072)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

12,844
3,363
0
0

(20,732)
4,400
0
0

(139,060)
3,226
0
0

(26,171)
0
0
0

579,326
579,326
0
606,222
519,097
87,125
(26,896)
50,629
2,332
48,298
30,029
39,036
38,961
(129,547)
3,085
0
0
44,939

185,101
0
9,481
469,753

219,156
0
(25,132)
362,602

79,302
0
(142,286)
627,787

683,282
0
(26,171)
57,006

869,343
167,621
(132,632)
206,295

999,981
113,132
(312,570)
163,369

0.41
10.92
0.00
0.84
0.95
83.22
-91.65
1.73
-87.71
7.33

0.14
8.74
0.21
1.18
0.79
89.33
8.56
-2.53
-55.23
-10.26

0.08
16.42
0.20
0.62
0.68
99.53
-14.72
-15.81
-1,881.86
-93.19

0.05
4.86
0.05
1.02
0.26
95.65
1.73
-2.34
-12.98
-6.86

0.02
6.74
0.03
0.48
0.32
104.64
2.32
-10.34
-30.87
-16.69

0.01
8.98
0.00
0.56
0.72
130.54
22.44
-25.63
-146.72
-32.70

37,651

43,187

45,732

45,967

76,794

82,854

96,656

63,638

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.83

3.98

1.45

200.52

138.43
-2.33
-22.36
0.05
-14.04
38.81

67.42
-4.20
-46.48
-0.42
-33.08
5.27

1.83
0.00
1.00
-0.97

-2.19
0.00
-2.66
8.92

-23.62
0.00
-15.06
-7.35

-2.00
0.00
-2.77
50.02

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

264,733

246,594

225,517

222,627

779,624
264,733
24,360
0

786,090
246,594
24,405
0

787,164
225,517
22,350
0

807,166
222,627
22,892
0

184,964
1,461
0
0
0
183,503
556,280
97,744
458,536
594,892

131,215
4,865
0
0
0
126,350
704,679
27,852
676,827
407,494

105,850
2,228
0
56,261
0
47,361
410,871
10,850
400,021
697,559

117,731
4,799
0
0
0
112,932
555,401
148,500
406,901
531,255

594,892
(701,475)
87,246
87,246
0
(788,721)

407,494
(734,364)
87,246
87,246
0
(821,610)

697,559
(777,063)
87,246
87,246
0
(864,309)

531,255
(746,298)
87,246
87,246
0
(833,544)

154,344
154,344
0
165,834

179,381
179,381
0
223,827

177,287
177,287
0
211,243

291,228
291,228
0
258,593

(11,490)
52,418

(44,446)
6,802

(33,956)
8,035

32,635
7,891

(Thousand Rupees)
2009
2010
202,136
0
807,166
201,129
21,498
0
0
1,007
93,967
602
0
0
0
93,365
0
155,000
(155,000)
303,959
303,959
0
0
0
0
(644,782)
87,246
87,246
0
(732,028)
0
2,500
0

202,704
0
827,627
201,697
19,893
0
0
1,007
104,066
1,496
0
0
0
102,570
250,318
87,500
162,818
836,591
836,591
0
0
0
0
(780,139)
87,246
87,246
0
(867,385)
0
(867,385)
0
0
0
0
0
0
0
0
3,763
0
3,763
387
79,603
79,209
(134,354)
1,003
0
0
(379,557)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(36,305)
671
0
0

(32,541)
780
0
0

(41,812)
886
0
0

30,764
0
0
0

57,991
57,991
0
148,772
0
148,772
(90,781)
12,169
0
12,169
1,066,597
944
0
101,806
290
0
0
216,844

(106,583)
0
(36,976)
97,744

(326,870)
0
(33,321)
27,852

(79,504)
0
(42,698)
10,850

(215,043)
0
30,764
148,500

(340,824)
303,959
101,516
458,959

56,452
836,591
(135,357)
924,091

0.00
8.76
0.00
0.34
0.33
107.44
-1.64
-8.04
5.47
14.01

0.01
5.72
0.00
0.47
0.19
124.78
-1.51
-7.86
4.53
15.01

0.14
0.12
31.73
0.54
0.26
119.15
-1.43
-11.79
5.53
20.58

0.01
0.13
0.00
0.86
0.21
88.79
-1.46
9.16
-4.04
-20.89

0.01

1.63
0.00
0.20

0.00
0.42

256.54
-0.47
31.99
-14.64
-36.63

-1.39
-44.57
18.86
94.49

-0.70

-23.52
0.00
-4.24
-80.40

-18.14
0.00
-3.82
-84.17

-23.58
0.00
-4.89
-89.07

10.56
0.00
3.53
-85.54

175.56
0.71
11.64
-73.90

-0.35
-15.51
-89.42

52,418

6,802

8,035

7,891

13,518

10,266

217

375

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

195

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,046,312

1,802,763

1,902,232

2,720,363

1,723,387
1,043,685
100,753
2,627

2,560,717
1,801,449
90,990
1,314

2,851,909
1,901,957
177,529
275

3,123,629
2,719,576
227,521
787

397,941
38,930
97,128
65,497
0
196,386
530,652
356,588
174,064
375,896

619,343
102,471
263,302
58,147
0
195,423
687,348
504,554
182,794
1,248,519

1,558,412
42,590
1,131,242
149,587
0
234,993
2,382,897
2,097,049
285,848
949,515

1,788,876
46,318
1,438,063
19,373
0
285,122
2,462,495
1,582,504
879,991
928,333

375,896
537,705
191,280
191,280
0
346,425

1,248,519
486,239
191,280
191,280
0
294,959

949,515
128,232
191,280
191,280
0
(63,048)

928,333
1,118,411
286,920
286,920
0
831,491

1,414,048
1,245,241
168,807
1,187,171

1,360,839
1,322,940
37,899
1,305,515

1,896,549
1,896,549
0
1,967,584

2,858,929
2,093,306
765,623
2,512,915

226,877
46,622

55,324
42,996

(71,035)
57,076

346,014
75,671

(Thousand Rupees)
2009
2010
2,519,639
45,813
3,110,938
2,450,768
257,133
900
0
22,158
0
20,971
701,368
54,007
0
(776,346)
1,405,275
961,725
443,550
1,229,686
1,229,686
0
0
0
0
900,501
286,920
286,920
0
(220,208)
0
(220,208)
833,789

2,339,038
2,463
3,209,692
2,313,897
236,640
253
0
22,425
636,060
45,797
256,658
79,534
0
254,071
731,639
233,334
498,305
1,059,164
1,059,164
0
0
0
0
1,184,295
286,920
286,920
0
136,652
0
136,652
760,723
6,362,700
6,362,700
0
5,597,467
4,620,036
977,431
765,233
124,277
14,251
110,026
245,956
300,141
297,573
347,799
63,664
28,692
0
1,354,669

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

138,086
7,541
0
0

(58,326)
5,955
0
0

(377,451)
8,220
0
0

(57,172)
8,447
0
0

3,968,673
3,968,673
0
3,595,629
2,345,472
1,250,157
373,044
87,629
15,518
72,111
176,107
438,721
434,622
(140,786)
19,912
0
0
1,293,854

913,601
0
130,545
356,588

1,734,758
0
(64,281)
504,554

1,077,747
0
(385,671)
2,097,049

2,046,744
0
(65,619)
1,582,504

2,130,187
1,229,686
(160,698)
2,191,411

2,243,459
1,059,164
255,443
1,292,498

0.20
3.13
4.63
0.98
0.75
83.96
1.69
11.31
27.76
16.89

0.23
6.35
4.27
0.56
0.90
95.93
3.98
-3.02
-11.39
-4.40

0.08
13.30
7.89
0.55
0.65
103.75
25.99
-12.83
-122.85
-26.84

0.03
11.85
0.68
0.63
0.73
87.90
3.03
-1.43
-9.17
-3.66

0.05
11.05
1.36
1.58
0.00
90.60
2.93
-4.01
-13.95
-6.74

0.17
4.72
1.25
2.14
0.87
87.97
1.51
12.66
33.37
15.90
9.90
24.79
2.17
5.47
0.76
9.90
41.28

46,622

42,996

57,076

75,671

44,242

86,418

252,210

338,761

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

196

14.56

5.17

1.68

1.99

5.66
0.68
-3.55
0.49
-5.60
31.39

9.77
0.00
6.82
28.11

-4.29
0.00
-3.36
25.42

-19.90
0.00
-20.16
6.70

-2.00
0.00
-2.29
38.98

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,344,118
216,030
3,425,941
3,128,088
153,592
0
0
0
1,491,214
25,662
1,064,542
0
0
401,010
1,983,804
1,153,084
830,720
1,510,347
1,485,362
0
0
2,787
22,198
1,341,181
990,200
990,200
0
350,981
0
350,981
0

3,343,051
320,891
3,467,256
3,022,160
147,243
0
0
0
1,391,773
37,576
827,489
143,247
0
383,461
2,050,349
1,330,254
720,095
1,225,243
1,211,835
0
0
8,060
5,348
1,459,232
990,200
990,200
0
469,032
0
469,032
0

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
1,301,735

4,749,066
3,970,587
778,479
4,095,161
3,659,483
435,678
653,905
113,850
25,480
88,370
176,800
411,409
408,510
132,172
29,148
0
0
254,447

2,851,528
1,485,362
330,263
2,638,446

2,684,475
1,211,835
103,024
2,542,089

0.01
14.39
0.00
0.83
0.75
72.91
2.61
7.31
26.36
12.40

0.09
8.66
3.02
1.00
0.68
86.23
2.24
2.76
9.44
4.77

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

197

3.77
1.63
8.82
0.37
3.34
13.54

5.74
1.32
2.78
0.08
1.04
14.74

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

416,018

481,609

459,406

428,062

1,060,954
416,018
46,287
0

1,166,654
481,609
42,884
0

1,153,861
459,406
38,377
0

1,204,388
428,062
46,638
0

754,583
12,187
206,457
52,151
326,059
157,729
581,734
357,210
224,524
51,646

688,222
19,166
203,171
56,737
256,769
152,379
666,479
410,419
256,060
118,183

992,513
13,344
231,242
74,504
534,155
139,268
752,470
514,353
238,117
81,731

872,674
11,643
310,000
74,828
318,057
158,146
893,201
589,330
303,871
49,085

51,646
537,221
190,022
190,022
0
347,199

118,183
385,169
213,775
213,775
0
171,394

81,731
617,718
213,775
213,775
0
403,943

49,085
358,450
213,775
213,775
0
144,675

2,318,523
1,881,048
437,475
2,124,517

2,236,498
1,817,704
418,794
2,092,506

2,395,470
2,028,374
367,096
2,302,063

2,544,949
2,102,412
442,537
2,414,228

194,006
91,715

143,992
110,472

93,407
106,352

130,721
111,377

(Thousand Rupees)
2009
2010
457,876
451
1,267,012
397,923
43,117
0
56,792
2,710
0
3,110
170,442
65,437
142,976
(381,965)
0
449,631
(449,631)
53,765
44,958
0
0
8,807
0
111,390
213,775
213,775
0
(102,385)
106,047
(208,432)
0

2,916,926
0
3,728,079
2,876,735
40,396
0
37,027
3,164
584,203
27,128
164,332
58,024
94,264
240,455
922,410
452,171
470,239
39,393
29,972
0
0
9,421
0
2,539,326
213,775
213,775
0
(187,491)
76,931
(264,422)
2,513,042
3,285,140
2,216,979
1,068,161
3,112,800
2,469,967
642,833
172,340
159,336
45,622
113,714
232,342
69,857
64,885
(31,930)
22,056
0
0
(15,927)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

101,596
7,841
0
0

(26,718)
10,845
0
0

16,442
11,712
0
0

(56,256)
4,348
0
0

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
(130,692)
10,466
0
0
29,115

588,867
0
93,755
357,210

503,352
0
(37,563)
410,419

699,449
0
4,730
514,353

407,535
0
(60,604)
589,330

165,155
44,958
(141,158)
494,589

2,578,719
29,972
(53,986)
482,143

0.67
2.44
2.25
1.98
1.30
91.63
1.18
8.17
20.17
17.79

0.50
3.59
2.54
1.91
1.03
93.56
2.04
-2.28
-5.79
-4.89

0.83
3.61
3.11
1.65
1.32
96.10
1.35
1.25
3.28
2.73

0.45
3.64
2.94
1.96
0.98
94.86
2.63
-4.09
-11.53
-10.16

0.19
2.13
1.77
0.94
0.63
94.75
0.38
-1.61
-2.41
-2.33

91,715

110,472

106,352

111,377

56,545

80,295

86,510

92,676

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

198

4.37
3.16
4.53

98.43
0.48
-14.86
-55.63
-45.64

11.23

11.01

10.36

8.21

12.16
-0.48
-6.31
0.54
-6.60
5.21

19.99
0.51
-0.97
-0.02
-2.53
118.78

4.38
0.00
4.93
28.27

-1.19
0.00
-1.76
18.02

0.69
0.00
0.22
28.90

-2.21
0.00
-2.83
16.77

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,889,957

4,064,222

3,905,234

3,969,842

4,065,352
2,889,957
197,690
0

5,411,068
4,031,103
205,422
33,119

5,579,287
3,869,946
329,375
35,288

5,949,835
3,934,554
308,221
35,288

3,715,787
18,750
1,797,217
158,695
333,060
1,408,065
4,388,437
2,237,674
2,150,763
876,553

2,995,473
28,855
577,528
192,139
0
2,196,951
4,472,632
1,907,465
2,565,167
614,756

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

2,962,894
35,277
828,021
1,445,876
58,695
595,025
5,635,204
3,206,434
2,428,770
299,041

24,990

12,495

851,563
1,340,754
365,120
365,120
0
975,634

602,261
1,972,307
365,120
365,120
0
1,607,187

256,403
1,679,753
365,120
365,120
0
1,314,633

299,041
998,491
365,120
365,120
0
633,371

3,307,344
3,072,862
234,482
3,099,274

7,262,920
6,911,194
351,726
6,778,023

4,854,496
4,076,217
778,279
4,702,251

6,200,500
4,876,155
1,324,345
6,158,106

208,070
86,026

484,897
130,288

152,245
157,845

42,394
159,525

(Thousand Rupees)
2009
2010
3,695,736
362,860
5,587,794
3,328,218
244,672
0
0
4,658
2,641,850
10,613
748,380
40,418
28,392
1,814,047
4,627,235
3,062,171
1,565,064
898,370
586,651
196,605
0
0
115,114
811,980
365,120
365,120
0
(461,563)
0
(461,563)
908,423

4,467,503
0
6,936,903
4,467,473
210,395
0
0
30
1,921,563
13,156
109,124
33,599
17,882
1,747,803
4,236,366
3,072,121
1,164,245
815,886
356,865
0
0
0
459,021
1,336,815
365,120
365,120
0
(439,596)
0
(439,596)
1,411,291
4,333,665
4,075,503
258,162
4,213,774
2,966,928
1,246,846
119,891
65,935
11,103
54,832
155,013
6,087
1,877
14,315
52,000
0
0
316,606

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

57,518
26,443
0
0

131,035
42,917
0
0

(352,070)
26,478
0
0

(740,698)
33,300
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
(471,094)
3,677
0
0
(1,686)

2,217,307
24,990
31,075
2,262,664

2,587,063
12,495
88,118
1,919,960

1,936,156
0
(378,548)
2,397,027

1,297,532
0
(773,998)
3,206,434

1,710,351
586,651
(474,770)
3,648,822

2,152,701
356,865
(37,685)
3,428,986

0.08
7.49
4.36
0.68
0.62
96.86
3.23
-4.97
-19.28
-15.57

0.27
10.12
23.32
0.89
0.53
99.32
5.94
-10.55
-55.31
-45.81

0.02
12.21
1.66
0.38
0.57
99.21
6.81
-7.10
-52.04
-31.32

0.02
0.14
0.78
0.68
0.45
97.23
3.78
0.22
1.33
0.74

86,026

130,288

157,845

159,525

93,336

228,879

363,822

627,206

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.12
2.82
4.80
0.50
0.85
93.71
3.93
1.06
4.78
2.84

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

199

0.05
3.15
2.65
1.03
0.67
93.32
2.58
1.92
7.91
5.45

1.84

12.58

5.63

7.49

3.26
-0.60
-19.31
0.00
-13.00
22.24

39.71
8.63
0.33
0.06
-1.03
36.61

1.74
0.00
0.85
36.72

1.80
0.00
2.41
54.02

-7.25
0.00
-10.37
46.01

-11.95
0.00
-21.20
27.35

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

457,200

449,433

499,160

515,881

1,018,134
457,200
27,983
0

1,035,470
449,433
28,163
0

1,111,404
499,160
28,088
0

1,157,513
515,881
31,430
0

399,409
15,711
117,597
0
57,223
208,878
604,982
92,996
511,986
54,000

583,543
40,624
276,023
10,240
84,737
171,919
692,086
124,808
567,278
60,808

537,793
41,210
149,495
41,002
97,932
208,154
693,819
21,827
671,992
94,987

994,979
50,992
482,668
66,154
181,740
213,425
1,128,837
82,694
1,046,143
19,644

54,000
197,627
188,270
188,270
0
9,357

60,808
280,082
188,270
188,270
0
91,812

94,987
248,147
188,270
188,270
0
59,877

19,644
362,379
216,510
216,510
0
145,869

1,323,464
1,323,464
0
1,255,025

2,794,993
2,794,993
0
2,521,779

2,093,283
2,093,283
0
2,017,618

1,691,060
1,691,060
0
1,546,542

68,439
23,304

273,214
42,809

75,665
36,117

144,518
69,296

(Thousand Rupees)
2009
2010
710,126
4,222
1,207,517
534,536
34,211
0
170,200
1,168
818,849
78,010
479,118
88,552
0
173,169
0
219,830
(219,830)
381,316
0
0
0
0
381,316
447,159
216,510
216,510
0
230,649
7,130
223,519
0

776,121
35,772
1,263,715
559,877
33,306
0
179,323
1,149
979,588
249,273
368,208
121,109
0
240,998
850,867
0
850,867
386,830
0
0
0
0
386,830
518,012
216,510
216,510
0
301,502
7,967
293,535
0
3,989,928
3,989,928
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
517,750

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

35,264
5,661
0
0

181,373
12,201
41,419
0

19,724
9,565
0
0

107,732
16,000
0
0

2,409,498
2,409,498
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
74,360

251,627
0
29,603
92,996

340,890
0
127,753
124,808

343,134
0
10,159
21,827

382,023
0
91,732
82,694

828,475
0
59,720
219,830

904,842
0
59,292
0

0.12
1.57
0.00
1.55
0.66
94.83
3.33
4.25
22.75
15.96

0.20
1.91
0.37
2.71
0.84
90.22
2.69
19.20
75.93
61.22
4.08
10.13

0.26
1.35
1.96
2.02
0.78
96.39
3.18
1.91
7.47
5.77

0.26
1.25
3.91
1.12
0.88
91.45
3.17
8.46
35.29
29.71

0.44
1.30
3.04
2.27
1.15
93.89
2.39
9.58
32.60
18.15
2.10
10.84
4.06
3.94
0.42
5.24
23.93

23,304

42,809

36,117

69,296

20,827

53,449

28,285

21,110

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

11.25

200

14.00

3.50

2.66
0.00
1.57
10.50

6.49
0.00
8.99
14.88

0.94
0.00
0.54
13.18

6.37
0.00
4.24
16.74

2.02
3.68
1.58

92.09
0.85
7.64
28.69
19.19
2.58
5.03
3.44
4.82
0.20
4.51
20.65

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,112,775

1,400,160

1,323,023

1,265,629

1,738,576
1,112,775
61,970
0

2,084,755
1,400,160
58,833
0

2,095,956
1,323,023
78,708
0

2,101,572
1,265,629
73,011
0

451,030
4,582
219,436
0
92,433
134,579
1,077,756
435,666
642,090
515,155

506,452
8,416
323,502
0
24,839
149,695
1,429,578
459,361
970,217
371,955

522,695
5,124
356,274
0
38
161,259
1,593,916
432,744
1,161,172
264,334

240,042
15,808
33,263
1,618
0
189,353
1,216,445
89,317
1,127,128
337,458

515,155
(29,106)
50,297
50,297
0
(79,403)

371,955
105,079
50,297
50,297
0
54,782

264,334
(12,532)
145,862
145,862
0
(158,394)

337,458
(48,232)
145,862
145,862
0
(194,094)

1,168,351
1,168,351
0
983,683

1,001,826
1,001,826
0
938,860

972,001
972,001
0
1,030,814

1,854,387
1,854,387
0
1,745,637

184,668
53,372

62,966
54,538

(58,813)
60,126

108,750
65,308

(Thousand Rupees)
2009
2010
1,422,569
41,127
2,228,509
1,349,509
67,479
0
0
31,933
0
4,149
1,989
0
0
(6,138)
0
49,475
(49,475)
1,199,313
313,247
666,000
0
0
220,066
19,626
145,862
145,862
0
(739,957)
0
(739,957)
613,721

1,408,168
52,732
2,276,597
1,323,051
74,546
855
0
31,530
165,780
8,710
11,132
0
0
145,938
413,214
87,373
325,841
1,410,200
275,935
914,200
0
0
220,065
(249,466)
145,862
145,862
0
(977,782)
0
(977,782)
582,454
1,490,206
1,490,206
0
1,690,340
1,634,058
56,283
(200,134)
80,076
2,882
77,194
95,307
61,793
61,169
(252,998)
16,033
0
0
(272,629)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

33,891
5,500
0
0

(92,545)
4,689
0
0

(215,934)
4,479
0
0

(51,463)
0
0
0

1,205,361
1,205,361
0
1,146,745
1,052,179
94,565
58,616
71,955
3,913
68,042
89,605
79,755
77,156
(86,463)
6,485
0
0
45,375

486,049
0
28,391
435,666

477,034
0
(97,234)
459,361

251,802
0
(220,413)
432,744

289,226
0
(51,463)
89,317

1,218,939
313,247
(92,948)
362,722

1,160,734
275,935
(269,031)
363,308

0.09
9.07
0.00
0.75
0.42
84.19
-54.73
2.09
-69.94
6.80

0.02
10.88
0.00
0.53
0.35
93.71
17.14
-5.33
-243.63
-19.22

0.00
11.18
0.00
0.53
0.33
106.05
-148.28
-11.51
-466.65
-59.25

0.01
5.24
0.09
1.23
0.20
94.14
-32.22
-3.07
169.39
-19.02

0.02
4.15
0.00
0.95
0.40
113.43
-7.31
-16.89
220.15
-21.26

53,372

54,538

60,126

65,308

106,010

109,011

108,631

97,172

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

201

6.62
0.00
0.85

95.14
61.11
-5.91
604.52
-11.47

5.32

3.10

2.73

55.75

606.01
-0.12
-7.17
0.04
-6.37
1.35

133.87
-3.14
-16.98
-0.15
-18.44
-17.10

2.90
0.00
5.64
-5.79

-9.24
0.00
-19.33
20.89

-22.22
0.00
-15.11
-0.86

-2.78
0.00
-3.53
-3.31

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

234,886

225,839

289,438

343,466

564,857
234,886
16,318
0

575,735
225,839
16,969
0

661,311
289,438
22,367
0

721,788
343,466
28,225
0

244,028
4,256
79,390
113,372
0
47,010
119,738
89,594
30,144
0

255,740
16,535
86,206
111,976
0
41,023
109,097
75,617
33,480
0

219,952
14,090
70,302
80,519
0
55,041
62,301
30,916
31,385
0

338,198
10,534
179,304
69,786
1,000
77,574
169,190
82,048
87,142
0

0
359,176
200,000
200,000
0
159,176

0
372,482
200,000
200,000
0
172,482

0
447,089
200,000
200,000
0
247,089

0
512,474
200,000
200,000
0
312,474

494,896
314,408
180,488
350,109

559,219
402,022
157,197
404,805

743,653
743,653
0
483,654

1,187,532
1,187,532
0
865,184

144,787
110,804

154,414
107,384

259,999
152,192

322,348
177,949

(Thousand Rupees)
2009
2010
363,284
15,871
774,106
344,071
30,871
0
0
3,343
321,197
52,068
139,742
70,878
0
58,508
70,281
0
70,281
40,490
0
0
0
0
40,490
573,710
200,000
200,000
0
373,710
10,000
363,710
0

354,659
18,557
801,003
332,449
38,667
0
0
3,653
436,433
89,627
230,971
34,668
0
81,167
109,344
864
108,480
45,548
1,428
0
0
0
44,120
636,200
200,000
200,000
0
436,200
10,000
426,200
0
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
144,370

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

26,919
7,482
0
0

37,448
5,104
12,000
0

103,462
11,597
24,000
0

139,028
21,644
80,000
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
166,208

359,176
0
19,437
89,594

372,482
0
20,344
75,617

447,089
0
67,865
30,916

512,474
0
37,384
82,048

614,200
0
107,432
0

681,748
1,428
69,443
2,293

0.98
1.62
22.91
1.03
2.04
70.74
0.33
5.50
7.70
7.70

1.18
1.77
20.02
1.16
2.34
72.39
0.29
7.80
10.24
10.24
2.70
6.49

1.52
0.90
10.83
1.46
3.53
65.04
0.14
20.88
25.25
25.25
3.83
10.58

0.48
0.83
5.88
1.74
2.00
72.86
0.33
23.35
28.98
28.98
1.47
6.62

1.75
0.26
5.60
1.85
4.57
68.89
0.19
29.38
36.96
35.63
2.34
9.06
105.78
15.85
1.50
4.69
14.34

1.14
0.14
2.83
1.55
3.99
70.94
0.24
27.76
33.86
31.61
1.87
5.30
585.50
16.74
0.93
3.74
15.90

110,804

107,384

152,192

177,949

8,039

9,878

6,678

9,868

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

6.23

202

5.44
0.00
0.49
8.98

6.70
0.00
0.81
9.31

13.91
0.00
2.30
11.18

11.71
0.00
5.87
25.62

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

660,562

618,039

680,445

790,841

1,391,525
660,562
67,488
0

1,392,015
618,039
65,202
0

1,513,820
680,445
61,986
0

1,687,640
790,841
66,387
0

1,358,647
17,983
531,852
150,689
411,540
246,583
1,134,668
306,534
828,134
0

1,777,667
381,272
419,296
175,255
614,725
187,119
832,639
337,000
495,639
0

2,258,991
638,531
390,494
202,887
801,364
225,715
959,764
488,190
471,574
0

2,563,642
736,537
438,221
403,763
555,721
429,400
1,324,019
465,156
858,863
0

0
884,541
162,000
162,000
0
722,541

0
1,563,067
216,000
216,000
0
1,347,067

0
1,979,672
288,000
288,000
0
1,691,672

0
2,030,464
360,000
360,000
0
1,670,464

3,072,005
1,959,942
1,112,063
2,777,609

4,019,324
4,019,324
0
3,601,775

2,838,960
2,838,960
0
2,468,787

4,490,483
2,102,436
2,388,047
3,755,657

294,396
175,614

417,549
158,575

370,173
173,110

734,826
282,208

(Thousand Rupees)
2009
2010
1,397,089
43,533
1,761,039
790,891
77,682
0
555,710
6,955
0
1,595,667
211,039
353,397
0
(2,160,103)
0
426,000
(426,000)
87,500
0
0
0
0
87,500
2,453,660
480,000
480,000
0
1,973,660
34,000
1,939,660
0

1,520,100
57,351
1,809,516
760,509
80,199
0
695,432
6,808
1,915,962
1,307,268
319,376
114,178
0
175,140
498,340
0
498,340
86,500
0
0
0
0
86,500
2,851,222
600,000
600,000
0
2,251,222
34,000
2,217,222
0
5,919,338
5,919,338
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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

207,340
50,000
64,800
0

260,589
68,000
21,600
72,000

256,213
47,500
57,600
72,000

503,747
80,000
90,000
119,988

4,584,186
4,584,186
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

884,541
0
92,540
306,534

1,563,067
0
170,989
337,000

1,979,672
0
151,113
488,190

2,030,464
0
333,747
465,156

2,541,160
0
311,816
426,000

2,937,722
0
368,535
0

0.51
1.00
4.91
1.52
1.20
90.42
1.28
10.83
21.25
21.25
2.43
5.78

1.41
1.22
4.36
1.68
2.13
89.61
0.53
11.80
21.29
21.29
8.92
9.59

1.71
0.78
7.15
0.97
2.35
86.96
0.48
9.60
14.46
14.46
3.62
7.27

1.28
0.22
8.99
1.34
1.94
83.64
0.65
16.01
25.12
25.12
4.71
10.25

2.85
1.26
1.93
1.72
3.84
83.80
0.21
31.43
28.64
27.73
3.46
18.53
12.32
12.83
0.75
4.32
23.76

175,614

158,575

173,110

282,208

30,744

49,036

22,237

9,998

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

203

6.75
0.00
4.86
27.30

6.48
0.00
4.46
36.18

9.02
0.00
3.62
34.37

11.22
0.00
5.89
28.20

1.24
7.71
3.28

81.15
0.04
27.56
29.21
28.65
2.86
21.72
14.18
14.28
12.48
5.00
25.56

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

997,744

963,629

972,410

1,065,485

1,660,468
997,744
61,712
0

1,683,479
963,629
58,754
0

1,749,635
972,410
58,911
0

1,135,983
1,065,485
56,736
0

277,295
13,065
124,569
0
0
139,661
496,466
205,207
291,259
83,033

571,631
77,265
277,941
0
0
216,425
965,820
545,959
419,861
33,165

598,586
25,006
417,183
1,383
0
155,014
1,145,516
747,386
398,130
0

431,612
5,044
233,216
8,713
0
184,639
988,497
487,109
501,388
20,340

83,033
695,540
324,000
324,000
0
371,540

33,165
536,275
324,000
324,000
0
212,275

0
425,480
324,000
324,000
0
101,480

20,340
488,260
324,000
324,000
0
164,260

1,567,932
1,477,071
90,861
1,348,553

1,091,041
1,043,077
47,964
1,092,936

1,015,361
1,015,361
0
1,013,109

1,324,168
1,324,168
0
1,288,685

219,379
36,441

(1,895)
26,813

2,252
32,925

35,483
32,411

(Thousand Rupees)
2009
2010
1,009,134
192
1,135,791
1,006,148
59,145
0
0
2,794
0
146,120
35,240
0
0
(181,361)
0
231,254
(231,254)
438,388
0
267,000
0
9,783
161,605
530,584
324,000
324,000
0
(76,207)
(76,207)
0
282,791

983,193
0
1,155,711
979,474
56,416
0
0
3,719
575,070
20,293
235,474
0
0
319,304
680,115
486,447
193,668
302,011
54,516
151,653
0
11,921
83,922
576,137
324,000
324,000
0
10,984
0
10,984
241,153
1,853,587
1,853,587
0
1,727,680
1,552,333
175,348
125,907
32,153
0
32,153
57,559
125,788
123,239
(27,930)
9,268
32,400
0
(298,832)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

135,416
36,291
0
0

(108,203)
8,779
0
0

(135,787)
4,382
0
0

(98,245)
0
0
0

1,054,857
1,054,857
0
856,746
347,513
509,233
198,110
30,765
0
30,765
50,718
130,065
128,545
37,349
5,732
0
0
374,004

778,573
0
99,125
205,207

569,440
0
(116,982)
545,959

425,480
0
(140,169)
747,386

508,600
0
(98,245)
487,109

968,971
0
31,617
231,254

878,148
54,516
(69,598)
540,963

0.03
3.27
0.00
1.23
0.56
86.01
0.83
9.66
20.34
16.89

0.08
7.45
0.00
0.71
0.59
100.17
1.86
-7.70
-17.57
-16.05

0.02
10.70
0.14
0.65
0.52
99.78
2.69
-8.74
-28.24
-27.30

0.01
8.23
0.66
0.88
0.44
97.32
2.07
-6.40
-21.50
-21.04

0.03
6.79
0.00
1.19
0.85
93.21
1.70
-2.18
-5.05
-3.02
-1.15
7.87
0.77
-1.51
-0.30
-1.15
17.78

36,441

26,813

32,925

32,411

51,326

81,248

108,617

108,982

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

204

12.33
0.00
1.05

81.22
0.83
2.98
7.33
5.06

12.59

3.93

2.43

5.68

29.93
1.29
3.54
0.85
0.98
16.38

8.64
0.00
3.06
21.47

-9.92
0.00
-3.61
16.55

-13.37
0.00
-4.33
13.13

-7.42
0.00
-3.03
15.07

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

325,116

354,530

337,896

359,132

726,675
325,116
36,633
0

778,042
354,530
23,971
0

799,031
337,896
40,363
0

862,116
359,132
42,781
0

318,925
39,471
140,909
0
10,879
127,666
184,950
11,434
173,516
36,636

462,130
7,518
314,577
0
12,941
127,094
383,621
252,198
131,423
28,512

405,451
6,081
249,369
27,268
12,340
110,393
367,395
275,223
92,172
9,651

234,045
33,775
41,430
0
11,738
147,102
181,590
22,739
158,851
10,969

36,636
422,455
110,000
110,000
0
312,455

28,512
404,527
121,000
121,000
0
283,527

9,651
366,301
121,000
121,000
0
245,301

10,969
400,618
121,000
121,000
0
279,618

1,324,395
1,324,395
0
1,079,061

1,153,190
1,153,190
0
1,043,213

1,534,450
1,534,450
0
1,519,353

1,897,466
1,897,466
0
1,724,474

245,334
74,917

109,977
54,886

15,097
60,620

172,992
78,794

(Thousand Rupees)
2009
2010
397,093
24,483
895,595
352,404
43,962
0
7,125
13,080
0
28,938
103,979
5,252
0
(138,169)
0
127,138
(127,138)
25,615
24,626
0
0
0
989
301,047
121,000
121,000
0
180,047
25,719
154,329
0

960,849
0
1,415,709
832,997
39,686
750
3,188
123,915
320,699
8,117
129,560
1,042
0
181,980
607,123
278,069
329,054
55,595
9,956
45,000
0
0
639
618,831
121,000
121,000
0
5,147
21,781
(16,635)
492,684
1,824,195
1,824,195
0
1,973,802
1,806,923
166,879
(149,607)
81,724
4,810
76,914
117,910
71,343
70,248
(297,450)
0
0
0
(198,386)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

167,631
50,306
27,500
0

25,083
5,080
0
0

(70,163)
6,731
0
0

56,780
0
20,570
0

1,468,262
1,468,262
0
1,418,682
1,243,862
174,820
49,580
80,070
5,025
75,045
125,198
62,570
60,649
(87,608)
7,355
0
0
(59,021)

459,091
0
89,825
11,434

433,039
0
20,003
252,198

375,952
0
(76,894)
275,223

411,587
0
36,210
22,739

326,662
24,626
(94,963)
151,764

674,426
9,956
(297,450)
288,025

0.27
0.76
0.00
2.06
1.72
81.48
0.52
29.62
44.60
42.49
4.27
9.40

0.05
3.05
0.00
1.41
1.20
90.46
1.02
3.43
6.07
5.62

0.12
2.77
1.78
2.06
1.10
99.02
1.03
-9.00
-18.20
-17.35

0.25
2.31
0.00
3.20
1.29
90.88
0.48
8.50
14.81
14.42
2.76
45.80

0.02
3.91
0.06
1.42
0.53
108.20
1.07
-35.44
-64.67
-59.43

74,917

54,886

60,620

78,794

10,044

35,199

42,573

43,802

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

205

3.67

6.15

12.66
0.00
10.67
38.41

2.18
0.00
1.65
33.43

-4.57
0.00
-6.35
30.27

2.99
0.00
4.69
33.11

4.26
0.36
3.70

96.62
0.09
-17.69
-24.97
-23.73

14.12
-0.44
-5.97
-2.30
-7.85
24.88

14.08
-3.23
-16.31
-0.30
-24.58
51.14

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,507,846

3,094,551

3,191,943

4,864,442

3,138,725
2,507,846
138,466
0

3,883,662
3,094,551
159,458
0

4,162,471
3,191,943
194,952
0

5,878,169
4,322,276
199,935
542,166

1,127,128
153,030
0
75,240
0
898,858
1,258,489
918,997
339,492
1,399,063

2,084,232
5,357
0
169,524
986,308
923,043
1,670,407
373,993
1,296,414
2,332,649

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

3,695,631
3,372
876,392
130,216
1,080,166
1,605,485
4,542,946
2,125,316
2,417,630
2,553,882

1,399,063
977,422
226,349
226,349
0
751,073

2,332,649
1,175,727
260,302
260,302
0
915,425

2,414,326
1,208,647
315,362
315,362
0
893,285

2,553,882
1,463,245
381,254
381,254
0
1,081,991

3,194,271
3,194,271
0
2,549,189

6,489,766
6,489,766
0
5,336,752

6,144,673
6,144,673
0
5,328,324

8,718,072
8,718,072
0
7,082,728

645,082
114,827

1,153,014
370,808

816,349
162,091

1,635,344
358,919

(Thousand Rupees)
2009
2010
8,257,771
25,574
9,035,673
6,829,408
434,173
608,311
745,602
48,877
4,074,576
6,578
1,436,297
36,588
0
2,595,114
5,492,666
4,458,967
1,033,699
4,848,826
3,705,738
260,900
0
26,886
855,302
1,990,855
435,458
435,458
0
1,555,398
0
1,555,398
0

8,849,111
46,063
9,484,823
6,893,409
443,216
608,311
1,216,921
84,409
3,316,306
10,942
206,682
143
0
3,098,539
4,358,259
3,298,773
1,059,486
4,396,217
3,100,554
239,324
0
37,955
1,018,383
3,410,942
489,890
489,890
0
2,921,052
0
2,921,052
0
20,392,208
20,392,208
0
16,744,461
13,829,079
2,915,383
3,647,747
568,203
11,956
556,247
827,874
1,168,440
1,137,486
1,951,876
355,300
342,923
48,989
2,961,982
7,807,158
3,100,554
1,253,653
6,399,328

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

365,290
13,962
51,443
20,577

287,146
28,324
78,091
52,060

58,498
0
0
63,072

668,102
27,446
133,439
57,188

9,898,459
9,898,459
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
(389,380)

2,376,485
0
299,885
918,997

3,508,376
0
180,731
373,993

3,622,973
0
58,498
2,763,918

4,017,127
0
507,217
2,125,316

6,839,681
3,705,738
690,225
8,164,705

0.18
5.41
2.36
0.88
0.90
79.81
2.72
11.90
46.78
18.67
6.83

0.70
7.63
2.61
1.25
1.25
82.23
3.40
6.52
26.67
9.76
3.31

0.54
11.36
5.83
0.85
1.12
86.71
4.99
0.94
4.91
1.64

17.15

0.27
7.60
1.49
1.02
0.81
81.24
4.85
8.46
50.01
17.49
4.80
9.95

11.44
0.00
15.52
43.18

4.42
0.00
9.94
45.17

0.95
0.00
1.85
38.33

7.66
0.00
16.80
38.38

0.01
11.39
0.37
0.80
0.74
75.87
5.19
8.87
53.68
17.08
4.96
6.89
1.84
9.37
-0.04
19.85
45.72

114,827

370,808

162,091

358,919

172,857

495,060

697,960

662,328

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

206

0.00
5.73
0.00
1.68
0.76
82.11
2.57
15.94
72.27
26.65
4.66
98.66
2.72
9.57
0.34
32.59
69.63

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

855,060

839,402

818,108

1,095,307

1,278,712
855,060
52,504
0

1,313,278
839,402
51,715
0

1,341,404
818,108
49,419
0

1,670,313
1,095,307
51,710
0

126,468
13,882
6,966
489
0
105,131
496,522
73,081
423,441
409,432

165,387
5,358
59,861
0
0
100,168
632,483
77,823
554,660
329,239

113,781
14,812
5,593
0
0
93,376
335,005
81,260
253,745
615,314

385,923
8,026
252,584
0
0
125,313
1,177,920
73,081
1,104,839
180,728

23,851

385,581
75,574
160,175
160,175
0
(84,601)

329,239
43,067
160,175
160,175
0
(117,108)

615,314
(18,430)
160,175
160,175
0
(178,605)

180,728
122,582
160,175
160,175
0
(37,593)

639,546
639,546
0
654,066

850,704
850,704
0
820,429

994,344
994,344
0
990,721

716,341
716,341
0
713,614

(14,520)
35,400

30,275
39,561

3,623
47,893

2,727
54,098

(Thousand Rupees)
2009
2010
1,322,012
1,753
1,959,237
1,315,592
68,665
0
0
4,667
184,128
39,658
44,594
7,190
0
92,685
646,885
78,152
568,733
708,026
107,647
577,963
0
19,149
3,267
151,230
160,175
160,175
0
(332,114)
0
(332,114)
323,169

1,479,149
176,185
2,009,115
1,297,606
67,865
0
0
5,358
156,074
6,270
24,079
6,421
0
119,304
720,463
73,081
647,382
735,208
34,566
677,089
0
23,554
0
179,551
160,175
160,175
0
(301,580)
0
(301,580)
320,956
1,264,672
1,264,672
0
1,153,481
945,914
207,567
111,191
71,554
3,642
67,912
85,099
3,212
0
37,701
12,647
0
0
170,638

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(51,501)
2,815
0
0

(18,464)
3,684
0
0

(57,209)
4,289
0
0

(49,898)
0
0
0

1,075,493
1,075,493
0
989,857
617,642
372,215
85,636
62,286
3,656
58,631
70,593
3,312
0
25,120
5,377
0
0
269,979

485,006
23,851
(54,316)
96,932

372,306
0
(22,148)
77,823

596,884
0
(61,498)
81,260

303,310
0
(49,898)
73,081

859,256
107,647
19,742
185,799

914,759
34,566
25,054
107,647

0.03
0.92
0.08
0.65
0.25
102.27
11.99
-5.23
-50.39
-9.48

0.01
1.16
0.00
0.85
0.26
96.44
22.33
-1.86
-31.13
-4.31

0.04
1.40
0.00
1.07
0.34
99.64
-51.56
-5.91
-464.42
-11.81

0.01
1.64
0.00
0.48
0.33
99.62
11.08
-4.14
-95.82
-11.09

0.07
0.31
0.67
0.71
0.28
92.04
8.96
1.68
18.35
4.32

0.02
0.25
0.51
0.77
0.22
91.21
8.11
2.40
22.79
4.25

35,400

39,561

47,893

54,098

5,915

9,863

13,887

11,721

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

207

91.81

14.21

177.78

2.84

24.12

52.52

-8.05
0.00
-3.39
4.72

-2.17
0.00
-1.38
2.69

-5.75
0.00
-3.84
-1.15

-6.97
0.00
-3.12
7.65

2.34
0.20
1.23
9.44

2.98
0.12
1.56
11.21

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

690,986

1,303,162

1,507,054

1,559,495

985,762
690,986
35,174
0

1,617,176
1,303,162
33,939
0

1,857,541
1,507,054
36,572
0

1,970,976
1,559,495
63,340
0

228,314
2,909
66,437
0
0
158,968
270,164
143,668
126,496
104,889

393,162
9,553
218,957
4,168
0
160,484
585,813
348,548
237,265
338,366

352,353
1,171
176,013
4,410
0
170,759
768,918
317,666
451,252
468,648

582,757
8,772
358,440
40,279
0
175,266
1,044,824
250,466
794,358
520,135

104,889
544,247
94,868
94,868
0
449,379

338,366
772,145
94,868
94,868
0
677,277

468,648
621,841
109,098
109,098
0
512,743

520,135
577,293
109,098
109,098
0
468,195

974,135
974,135
0
838,934

1,037,932
1,037,932
0
900,291

748,644
748,644
0
787,849

1,089,166
1,089,166
0
1,054,212

135,201
57,133

137,641
54,615

(39,205)
53,074

34,954
60,205

(Thousand Rupees)
2009
2010
1,648,696
433,369
1,664,990
1,196,336
61,901
0
0
18,991
341,213
13,350
92,362
0
0
235,501
500,024
130,771
369,253
817,488
399,310
416,869
0
0
1,309
672,397
109,098
109,098
0
(85,042)
26,879
(111,922)
648,341

1,664,441
473,397
1,613,143
1,124,456
53,684
0
0
66,588
412,015
2,661
124,203
52,445
0
232,706
579,661
286,971
292,691
898,324
300,517
446,498
0
0
151,309
598,471
109,098
109,098
0
(158,968)
26,879
(185,847)
648,341
1,387,004
1,387,004
0
1,360,588
1,255,983
104,605
26,416
71,065
2,353
68,712
170,909
81,559
80,492
(113,768)
7,756
0
0
(261,891)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

84,778
13,613
10,435
0

36,940
4,580
14,230
0

(137,233)
3,811
0
0

(104,027)
0
0
0

1,379,043
1,379,043
0
1,196,613
782,886
413,728
182,430
71,447
2,599
68,849
105,548
109,379
87,525
5,789
1,267
0
0
23,797

649,136
0
60,730
143,668

1,110,511
0
18,130
348,548

1,090,489
0
(141,044)
317,666

1,097,428
0
(104,027)
250,466

1,489,885
399,310
4,522
530,081

1,496,795
300,517
(121,524)
587,487

0.01
2.14
0.00
1.06
0.85
86.12
0.69
9.30
16.20
14.28
6.82
14.66

0.02
4.99
0.40
0.61
0.67
86.74
1.20
2.82
5.61
4.20
2.27
4.74

0.01
7.94
0.59
0.40
0.46
105.24
1.99
-7.72
-19.69
-12.47

0.05
8.45
3.70
0.51
0.56
96.79
2.71
-5.20
-17.35
-9.51

0.03
7.93
0.00
0.69
0.68
86.77
1.96
0.28
0.93
0.45

0.10
5.88
3.78
0.67
0.71
98.10
2.47
-5.60
-17.90
-7.62

57,133

54,615

53,074

60,205

20,817

51,802

59,427

92,078

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

4.25

3.04

14.93
1.07
0.42
0.02
0.41
61.63

11.17
-0.41
-8.20
-0.18
-11.14
54.86

8.70
0.00
7.50
57.37

3.56
0.00
3.41
81.39

-18.33
0.00
-12.93
57.00

-9.55
0.00
-9.54
52.92

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

410,787

394,306

419,795

425,336

805,522
410,787
32,849
0

821,393
394,306
33,113
0

879,904
419,795
34,280
0

916,961
425,336
34,690
0

413,714
210
203,810
14,520
56,654
138,520
585,655
136,546
449,109
72,931

411,195
26,526
139,740
0
83,654
161,275
525,919
206,386
319,533
49,779

343,838
2,210
118,387
31,073
97,891
94,277
493,018
137,138
355,880
152,204

766,253
1,658
437,058
30,512
151,507
145,518
888,290
182,587
705,703
127,511

72,931
165,915
98,437
98,437
0
67,478

49,779
229,803
98,438
98,438
0
131,365

152,204
118,411
98,437
98,437
0
19,974

127,511
175,788
98,438
98,438
0
77,350

1,109,300
1,109,300
0
1,048,305

2,259,620
1,900,849
358,771
2,071,125

1,485,943
1,376,942
109,001
1,493,303

1,439,288
1,202,038
237,250
1,320,711

60,995
35,237

188,495
47,378

(7,360)
46,252

118,577
78,211

(Thousand Rupees)
2009
2010
688,396
39,019
999,499
473,156
36,497
0
174,229
1,992
430,048
1,341
141,297
112,101
39,053
136,256
482,161
108,033
374,128
302,602
90,631
0
0
4,868
207,103
333,681
118,125
118,125
0
215,556
63,281
152,275
0

1,028,023
38,213
1,380,332
809,740
47,902
0
176,077
3,992
707,368
113,747
253,837
90,561
91,481
157,742
751,722
77,373
674,349
461,255
219,972
0
0
5,742
235,541
522,414
142,931
142,931
0
379,483
63,281
316,202
0
3,841,345
3,841,345
0
3,366,566
3,174,120
192,446
474,779
120,774
5,443
115,331
137,798
73,800
72,448
321,129
38,758
50,026
28,586
292,070

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

4,678
5,600
0
0

98,923
9,821
0
0

(110,357)
6,450
0
0

60,564
2,414
0
0

2,387,446
2,387,446
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

238,846
0
(922)
136,546

279,582
0
89,102
206,386

270,615
0
(116,807)
137,138

303,299
0
58,150
182,587

636,283
90,631
199,261
198,664

983,669
219,972
232,346
297,345

0.12
2.68
1.31
1.35
0.71
94.50
3.97
0.53
2.39
1.64

0.21
2.08
0.00
2.81
0.78
91.66
2.51
12.14
50.00
38.16

0.27
3.89
2.09
1.95
0.70
100.50
5.45
-14.07
-63.38
-40.12

0.21
3.03
2.12
1.21
0.86
91.76
5.78
6.20
41.17
21.11

0.32
2.74
4.70
2.13
0.89
83.54
2.35
21.27
96.45
52.30
5.82
16.90
4.82
10.29
0.07
20.37
28.25

0.39
1.92
2.36
2.21
0.94
87.64
2.32
22.51
75.02
39.65
5.64
15.13
5.43
8.36
0.24
19.76
36.55

35,237

47,378

46,252

78,211

29,702

46,939

57,773

43,639

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

209

5.44

16.17

12.55

3.29

0.42
0.00
-0.09
16.85

4.38
0.00
9.05
23.34

-7.43
0.00
-11.87
12.03

4.21
0.00
5.91
17.86

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

308,051

322,115

398,069

417,044

661,237
308,051
15,711
0

690,091
322,115
16,796
0

785,035
398,069
20,695
0

822,423
417,044
22,006
0

632,203
5,865
198,805
3,184
308,859
115,490
431,175
102,399
328,776
217,314

745,867
12,044
336,408
0
282,023
115,392
549,284
348,915
200,369
114,880

606,163
10,064
183,799
4,691
306,453
101,156
613,380
403,366
210,014
31,826

835,365
13,297
426,595
0
215,486
179,987
810,242
153,802
656,440
177,778

217,314
291,765
63,888
63,888
0
227,877

114,880
403,818
63,888
63,888
0
339,930

31,826
359,026
63,888
63,888
0
295,138

177,778
264,389
63,888
63,888
0
200,501

890,119
890,119
0
761,250

1,591,383
1,591,383
0
1,329,888

1,294,507
1,294,507
0
1,242,872

1,128,856
927,144
201,712
980,357

128,869
35,189

261,495
45,370

51,635
43,876

148,499
80,224

(Thousand Rupees)
2009
2010
753,477
91,608
916,682
493,340
21,632
0
167,791
738
559,658
35,036
203,171
84,050
63,828
173,573
524,513
214,684
309,829
339,086
133,334
0
0
0
205,752
449,536
63,888
63,888
0
256,592
256,592
0
129,056

986,239
123,281
1,120,505
683,949
31,866
2,200
176,077
732
501,201
31,152
125,715
90,979
56,616
196,739
594,558
206,322
388,236
338,231
88,890
0
0
0
249,341
554,651
70,277
70,277
0
311,318
311,318
0
173,056
2,823,671
2,823,671
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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

101,942
4,751
0
0

211,687
7,771
14,375
0

(50,519)
6,064
0
0

62,882
2,454
6,389
0

1,803,234
1,803,234
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

509,079
0
97,191
102,399

518,698
0
189,541
348,915

390,852
0
(56,583)
403,366

442,167
0
54,039
153,802

788,622
133,334
187,386
348,018

892,882
88,890
115,070
295,212

0.74
3.91
0.36
0.95
1.47
85.52
2.22
10.56
44.92
22.85

0.54
3.47
0.00
1.49
1.36
83.57
1.64
21.08
60.87
41.19
14.19
4.73

0.52
4.63
0.36
1.29
0.99
96.01
1.80
-4.88
-13.24
-11.11

0.28
4.99
0.00
0.90
1.03
86.85
3.74
5.57
20.17
15.10
9.46
2.65

0.35
4.80
4.66
1.37
1.07
81.61
1.92
16.70
60.01
34.81
12.73
8.88
3.50
11.88
0.03
31.83
70.36

0.30
3.68
3.22
1.90
0.84
87.75
1.68
11.17
31.14
18.60
11.92
22.46
2.53
5.54
0.00
17.87
78.92

35,189

45,370

43,876

80,224

34,788

55,175

59,956

56,292

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.48

210

7.04

11.45
0.00
15.21
45.67

13.30
0.00
31.92
63.21

-3.90
0.00
-8.86
56.20

5.57
0.00
9.46
41.38

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

289,992

262,840

239,349

221,120

688,059
289,992
30,395
0

688,212
262,840
27,366
0

673,493
239,349
26,903
0

694,223
221,120
22,946
0

165,976
2,870
122,789
150
0
40,167
640,103
283,513
356,590
424,659

44,901
1,289
1,621
150
0
41,841
731,395
373,728
357,667
357,867

52,571
1,671
7,208
8,199
0
35,493
802,594
81,243
721,351
319,294

87,683
1,337
44,856
1,592
0
39,898
885,166
520,540
364,626
220,209

424,659
(608,794)
141,000
141,000
0
(749,794)

357,867
(781,521)
141,000
141,000
0
(922,521)

319,294
(829,968)
141,000
141,000
0
(970,968)

220,209
(796,572)
141,000
141,000
0
(937,572)

227,449
227,449
0
277,434

641,281
641,281
0
605,091

558,900
558,900
0
562,750

732,343
732,343
0
706,238

(49,985)
25,877

36,190
25,321

(3,850)
27,302

26,105
37,748

(Thousand Rupees)
2009
2010
215,850
15,219
692,765
199,204
21,554
0
0
1,427
100,351
2,488
65,590
0
0
32,273
421,886
291,439
130,448
530,471
143,773
0
0
0
386,698
(636,157)
141,000
141,000
0
(777,157)
0
(777,157)
0

207,882
0
720,294
206,455
20,278
0
0
1,427
171,537
18,276
77,650
1,749
0
73,862
425,573
331,355
94,218
450,808
64,110
0
0
0
386,698
(496,962)
141,000
141,000
0
(637,962)
0
(637,962)
0
1,328,623
1,328,623
0
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
0
78,188

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(111,836)
990
0
0

(17,828)
2,800
0
0

(44,745)
2,500
0
0

33,396
0
0
0

649,457
649,457
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
40,812

(184,135)
0
(112,826)
283,513

(423,654)
0
(20,628)
373,728

(510,674)
0
(47,245)
81,243

(576,363)
0
33,396
520,540

(105,686)
143,773
163,496
435,212

(46,154)
64,110
125,095
395,465

0.00
15.85
0.07
0.50
0.26
121.98
-1.75
-25.91
17.78
85.91

0.00
4.48
0.02
2.08
0.06
94.36
-1.39
-4.67
2.56
5.87

0.01
3.80
1.47
1.91
0.07
100.69
-1.35
-14.92
5.55
9.58

0.00
2.38
0.22
2.37
0.10
96.44
-1.39
11.12
-4.11
-6.14

0.01
1.05
0.00
2.05
0.24
85.63
-1.50
53.37
-23.28
-48.91

0.05
0.97
0.13
3.50
0.40
83.36
-1.76
43.84
-26.91
-200.85
9.87
17.11
15.74
11.48
0.09
9.87
-35.25

25,877

25,321

27,302

37,748

36,042

28,760

21,246

17,451

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

1.85

395.61

77.54

16.33

9.90
32.05
25.68
0.04
11.60
-45.12

-49.17
0.00
-8.00
-43.18

-2.78
0.00
-1.46
-55.43

-8.01
0.00
-3.35
-58.86

4.56
0.00
2.37
-56.49

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

733,724

1,284,521

1,461,495

1,349,771

1,270,573
733,724
51,731
0

1,873,144
1,284,521
53,242
0

2,092,376
1,461,495
52,924
0

2,118,857
1,349,771
143,319
0

584,697
237,671
87,042
33,316
127,766
98,902
269,867
19,624
250,243
13,307

592,497
18,206
374,592
24,115
88,112
87,472
453,489
283,445
170,044
431,053

702,139
14,856
471,149
11,407
81,208
123,519
823,695
645,423
178,272
361,155

584,555
16,250
318,059
40,771
105,304
104,171
759,465
554,942
204,523
266,937

13,307
1,035,247
113,757
113,757
0
921,490

431,053
992,476
113,757
113,757
0
878,719

361,155
978,784
136,508
136,508
0
842,276

266,937
907,924
150,159
150,159
0
757,765

1,210,207
946,468
263,739
976,729

1,001,103
788,543
212,560
928,030

1,219,559
963,592
255,967
1,149,279

2,011,741
1,472,806
538,935
1,780,436

233,478
92,574

73,073
78,742

70,280
86,139

231,305
117,065

(Thousand Rupees)
2009
2010
1,351,654
8,803
2,118,216
1,216,649
138,801
0
124,360
1,842
247,118
9,766
133,203
3,112
0
101,037
448,038
387,683
60,355
185,379
132,872
0
0
51,145
1,362
965,355
150,159
150,159
0
815,196
134,233
680,963
0

1,205,594
9,605
2,133,679
1,107,994
126,202
0
85,862
2,133
330,727
38,627
160,060
16,872
0
115,168
781,124
655,848
125,276
50,880
0
0
0
49,757
1,123
704,317
165,175
165,175
0
539,142
119,217
419,925
0
1,723,592
1,544,673
178,919
1,719,524
1,431,861
287,663
4,068
97,080
23,433
73,647
115,144
111,415
110,767
(183,237)
17,346
0
0
34,570

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

153,398
39,000
25,854
0

80,885
4,480
0
22,751

(61,069)
5,477
0
0

(42,752)
5,389
0
0

1,714,912
1,515,845
199,067
1,443,161
944,883
498,278
271,751
103,836
28,433
75,403
111,737
126,516
125,579
66,148
9,575
15,016
15,016
441,492

1,048,554
0
88,544
19,624

1,423,529
0
76,405
283,445

1,339,939
0
(66,546)
645,423

1,174,861
0
(48,141)
554,942

1,150,734
132,872
41,557
520,555

755,197
0
(200,583)
655,848

0.29
2.59
2.41
0.53
1.31
92.70
0.89
5.06
7.98
6.54

0.13
4.23
0.94
0.56
0.85
94.24
1.21
-3.02
-6.20
-4.42

0.21
9.16
2.03
1.04
0.77
88.50
1.13
-2.09
-4.53
-3.40

0.03
7.38
0.18
1.07
0.55
84.15
0.66
3.74
7.06
5.69
3.77
12.87
1.53
3.86
0.70
3.77
64.29

0.07
6.46
0.98
1.12
0.42
99.76
1.18
-11.69
-21.95
-19.23

92,574

78,742

86,139

117,065

3,188

25,968

51,529

184,257

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.48
0.26
2.75
0.92
2.17
80.71
0.27
14.12
18.10
17.78
4.42
13.90

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

212

2.67

2.59

6.33

12.68
0.00
5.03
45.50

8.08
0.00
6.72
87.25

-5.01
0.00
-4.87
71.70

-2.13
0.00
-3.21
60.46

10.77
-0.65
-10.63
0.04
-12.14
42.64

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

195,989

177,187

160,263

150,498

531,157
195,989
20,980
0

531,168
177,187
18,850
0

531,205
160,263
16,924
0

537,037
150,498
16,253
0

205,999
2,114
174,208
174,208
0
(144,531)
918,336
66,192
852,144
178,036

37,835
922
0
0
0
36,913
781,189
162,691
618,498
87,727

57,342
667
13,384
1,586
0
41,705
882,031
88,229
793,802
22,166

101,518
1,998
53,338
1
0
46,181
943,919
22,595
921,324
0

178,036
(694,384)
108,500
108,500
0
(802,884)

87,727
(653,894)
108,500
108,500
0
(762,394)

22,166
(686,592)
108,500
108,500
0
(795,092)

0
(691,903)
108,500
108,500
0
(800,403)

230,081
230,081
0
320,058

773,844
773,844
0
738,932

557,037
557,037
0
576,043

731,448
731,448
0
726,137

(89,977)
13,741

34,912
16,727

(19,006)
17,368

5,311
19,711

(Thousand Rupees)
2009
2010
71,963
0
550,771
71,831
7,852
0
0
132
162,631
1,397
122,220
0
0
39,014
425,027
157,350
267,676
389,942
22,005
70,000
0
0
297,937
(580,374)
108,500
108,500
0
(688,874)
0
(688,874)
0

65,688
0
551,220
65,630
7,316
0
0
58
204,345
15,699
134,045
0
0
54,602
385,453
146,626
238,827
389,553
21,616
70,000
0
0
297,937
(504,973)
108,500
108,500
0
(613,473)
0
(613,473)
0
1,069,717
1,069,717
0
951,816
859,047
92,769
117,901
35,997
1,663
34,334
66,445
7,017
1,613
86,098
10,697
10,850
0
27,239

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(79,678)
1,000
0
0

12,824
3,500
0
0

(30,197)
2,500
0
0

(5,312)
0
0
0

391,988
391,988
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
8,311

(516,348)
0
(80,678)
66,192

(566,167)
0
9,324
162,691

(664,426)
0
(32,697)
88,229

(691,903)
0
(5,312)
22,595

(190,432)
22,005
187,180
179,355

(115,420)
21,616
64,551
168,242

0.19
1.58
75.72
0.57
0.22
139.11
-1.58
-22.46
12.91
15.08

0.00
0.69
0.00
3.60
0.05
95.49
-1.33
4.16
-1.90
-2.37

0.00
0.19
0.28
2.56
0.07
103.41
-1.32
-13.96
4.51
4.91

0.00
0.18
0.00
2.90
0.11
99.27
-1.36
-2.26
0.77
0.78

0.00
0.77
0.00
1.67
0.38
89.23
-1.40
77.74
-29.73
-42.87

41.62

13.71

-34.63
0.00
-7.44
-64.00

1.66
0.00
0.86
-60.27

-5.42
0.00
-3.01
-63.28

-0.73
0.00
-0.49
-63.77

3.21
194.66
48.25
0.01
17.25
-53.49

0.04
0.66
0.00
3.96
0.53
88.98
-1.53
34.12
-15.87
-56.30
6.95
7.98
54.38
8.05
0.04
6.95
-46.54

13,741

16,727

17,368

19,711

3,638

5,371

1,035

1,298

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.32

213

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

707,292

676,527

645,049

645,049

1,185,569
707,292
38,464
0

1,187,314
676,527
36,888
0

1,190,478
645,049
35,604
0

1,190,478
645,049
35,604
0

110,192
12,066
29,753
3,560
0
64,813
764,593
180,496
584,097
256,973

199,949
45,306
75,400
1,091
0
78,152
581,844
259,648
322,196
479,919

171,813
27,545
60,707
24,618
0
58,943
743,404
303,915
439,489
380,912

171,813
27,545
60,707
24,618
0
58,943
743,404
303,915
439,489
380,912

256,973
(204,082)
223,080
223,080
0
(427,162)

479,919
(185,287)
223,080
223,080
0
(408,367)

380,912
(307,454)
223,080
223,080
0
(530,534)

380,912
(307,454)
223,080
223,080
0
(530,534)

594,891
594,891
0
567,546

981,454
981,454
0
866,175

1,144,541
1,144,541
0
1,182,172

1,144,541
1,144,541
0
1,182,172

27,345
30,308

115,279
34,251

(37,631)
40,856

(37,631)
40,856

(Thousand Rupees)
2009
2010
1,277,018
0
1,858,068
1,240,080
41,783
0
36,063
875
394,297
1,787
263,009
69,516
0
59,985
601,302
44,560
556,742
549,294
257,964
0
0
4,869
286,460
520,720
223,080
223,080
0
(157,609)
0
(157,609)
455,249

1,306,235
5,000
1,906,277
1,220,658
67,631
0
79,767
812
484,621
24,742
99,076
300,920
0
59,882
540,120
206,310
333,810
671,403
422,473
0
0
5,266
243,664
579,333
223,080
223,080
0
(76,324)
0
(76,324)
432,577
3,193,219
3,193,219
0
2,975,748
2,600,676
375,072
217,471
95,284
1,925
93,359
96,506
85,999
78,912
47,753
31,937
0
0
(212,400)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(18,187)
2,596
0
0

39,394
4,268
0
0

(117,215)
4,951
0
0

(117,215)
4,951
0
0

920,514
920,514
0
903,447
758,381
145,065
17,067
96,036
753
95,283
108,833
33,516
33,028
491,665
4,609
0
0
31,137

52,891
0
(20,783)
180,496

294,632
0
35,126
259,648

73,458
0
(122,166)
303,915

73,458
0
(122,166)
303,915

1,070,014
257,964
487,056
302,524

1,250,736
422,473
15,817
628,783

0.02
7.01
0.60
0.73
0.14
95.40
-5.01
-2.10
11.24
-5.91

0.08
4.41
0.11
1.12
0.34
88.25
-5.73
4.65
-20.23
22.67

0.07
3.50
2.15
1.40
0.23
103.29
-3.66
-13.84
47.58
-63.69

0.07
3.50
2.15
1.40
0.23
103.29
-3.66
-14.35
38.12
-159.57

0.12
3.64
7.55
0.55
0.66
98.15
2.21
39.52
461.08
86.00

0.60
2.69
9.42
1.78
0.90
93.19
2.09
2.76
8.68
4.12

30,308

34,251

40,856

40,856

41,680

43,311

40,032

40,032

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

214

19.99

13.02

18.85

18.85

3.50
15.89
53.41
0.03
21.83
23.34

32.23
1.61
1.50
-0.18
0.71
25.97

-3.06
0.00
-0.93
-9.15

4.01
0.00
1.57
-8.31

-10.24
0.00
-5.48
-13.78

-10.24
0.00
-5.48
-13.78

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

19,320

18,892

18,484

18,065

112,691
19,320
439
0

112,691
18,892
428
0

112,691
18,484
408
0

112,691
18,065
420
0

18,301
226
0
0
0
18,075
72,672
27,304
45,368
256,767

18,377
215
0
0
0
18,162
71,141
26,721
44,420
256,767

18,162
0
0
0
0
18,162
71,575
25,778
45,797
256,767

18,162
0
0
0
0
18,162
66,250
20,941
45,309
256,767

256,767
(291,818)
17,016
17,016
0
(308,834)

256,767
(290,639)
17,016
17,016
0
(307,655)

256,767
(291,696)
17,016
17,016
0
(308,712)

256,767
(286,790)
17,016
17,016
0
(303,806)

0
0
0
0

0
0
0
0

0
0
0
0

5,749
5,749
0
0

0
5,575

0
1,101

0
1,456

5,749
843

(Thousand Rupees)
2009
2010
17,657
0
112,691
17,657
419
0
0
0
18,187
26
0
0
0
18,162
70,505
21,215
49,290
256,767
256,767
0
0
0
0
(291,428)
17,016
17,016
0
(308,444)
2,859
(311,303)
0

17,657
0
112,691
17,657
419
0
0
0
18,187
26
0
0
0
18,162
70,505
21,215
49,290
256,767
256,767
0
0
0
0
(291,428)
17,016
17,016
0
(308,444)
2,859
(311,303)
0
0
0
0
0
0
0
0
4,656
0
4,656
3,259
0
0
(4,638)
0
0
0
(6,692)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(5,233)
0
0
0

1,182
3
0
0

(1,059)
0
0
0

4,906
0
0
0

0
0
0
0
0
0
0
4,656
0
4,656
3,259
0
0
(4,638)
0
0
0
(6,692)

(35,051)
0
(5,233)
27,304

(33,872)
0
1,179
26,721

(34,929)
0
(1,059)
25,778

(30,023)
0
4,906
20,941

(34,661)
256,767
(4,638)
277,982

(34,661)
256,767
(4,638)
277,982

0.00

0.00

0.00

0.00

0.00
0.25

0.00
0.26

0.00
0.25

0.00
0.00
0.00
0.16
0.27
0.00
-1.13
13.46
-1.70
-15.11

0.00

0.00
0.26

0.00
0.26

5,575

1,101

1,456

843

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

215

-1.13
-13.87
1.81
16.13

-1.13
3.16
-0.41
-3.43

-1.13
-2.87
0.36
3.08

0.00
-3.08
-171.50

0.00
0.69
-170.80

0.00
-0.62
-171.42

85.34
0.00
2.88
-168.54

-1.12
-12.87
1.60
14.34

-1.12
-12.94
1.59
13.38

-0.02
-2.73
-171.26

-0.02
-2.73
-171.26

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

555,559

539,305

524,078

516,797

656,343
555,559
29,637
0

671,082
539,305
31,020
0

684,769
524,078
29,541
0

708,109
516,797
30,969
0

108,403
2,821
12,400
0
0
93,182
448,160
37,338
410,822
117,844

129,250
5,407
6,726
33,400
0
83,717
425,580
36,429
389,151
101,415

128,007
2,647
6,747
5,720
0
112,893
461,541
39,597
421,944
84,092

121,230
14,410
30,697
11,366
0
64,757
410,771
51,818
358,953
64,970

117,844
97,958
119,460
119,460
0
(21,502)

101,415
141,560
119,460
119,460
0
22,100

84,092
106,452
119,460
119,460
0
(13,008)

64,970
162,286
119,460
119,460
0
42,826

650,017
625,795
24,222
617,466

1,204,947
1,177,209
27,738
1,026,227

1,236,738
1,236,738
0
1,165,163

2,170,042
2,103,162
66,880
1,936,420

32,551
40,606

178,720
51,155

71,575
50,463

233,622
80,119

(Thousand Rupees)
2009
2010
496,254
771
713,300
493,260
28,746
0
0
2,223
277,084
15,841
139,201
36,728
0
85,314
318,274
45,188
273,086
225,866
44,782
31,030
0
14,826
135,228
229,198
119,460
119,460
0
60,114
0
60,114
49,624

479,731
0
725,125
477,508
27,605
0
0
2,223
240,366
6,148
88,197
49,519
0
96,502
199,774
60,693
139,081
168,648
23,159
0
0
19,674
125,815
351,675
119,460
119,460
0
186,002
0
186,002
46,213
2,679,922
2,679,922
0
2,302,539
2,272,673
29,866
377,383
96,804
1,726
95,078
102,437
68,479
65,461
213,047
85,086
17,919
0
50,456

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(19,855)
3,129
0
0

94,187
5,716
0
0

(12,373)
5,847
0
0

134,232
20,020
0
0

1,679,489
1,679,489
0
1,453,985
1,528,005
(74,020)
225,504
74,405
1,419
72,986
101,012
36,752
34,490
115,257
47,600
11,946
0
148,862

215,802
0
(22,984)
37,338

242,975
0
88,471
36,429

190,544
0
(18,220)
39,597

227,256
0
114,212
51,818

455,064
44,782
55,711
89,970

520,323
23,159
110,042
83,852

0.01
2.44
0.00
0.98
0.24
94.99
5.78
-2.98
-17.75
-8.36

0.09
2.82
2.77
1.80
0.30
85.17
3.72
14.14
78.65
41.06

0.02
3.03
0.46
1.90
0.28
94.21
5.13
-1.87
-9.98
-5.71

0.06
1.17
0.52
3.40
0.30
89.23
2.93
20.81
99.90
64.26

0.17
2.19
2.19
2.17
0.87
86.57
2.37
16.33
58.88
33.78
5.66
12.07
4.34
6.86
0.27
5.66
19.19

0.28
2.56
1.85
3.72
1.20
85.92
1.05
28.53
73.35
43.68
7.14
30.39
4.25
7.95
0.14
10.71
29.44

40,606

51,155

50,463

80,119

15,886

33,973

37,493

25,326

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

216

52.42

179.15

183.30

70.69

-3.05
0.00
-1.92
8.20

7.82
0.00
7.41
11.85

-1.00
0.00
-1.53
8.91

6.19
0.00
9.56
13.58

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,630,152

1,644,117

1,681,232

1,693,408

2,279,000
1,630,152
71,806
0

2,378,770
1,644,117
85,978
0

2,258,832
1,681,232
83,814
0

2,593,022
1,693,408
85,025
0

1,054,616
27,453
522,908
106,189
3,670
394,396
1,878,567
1,203,729
674,838
374,735

1,084,727
44,794
343,217
27,800
244,060
424,856
1,458,903
645,425
813,478
819,544

1,180,102
116,416
670,708
3,337
4,215
385,426
1,617,653
751,580
866,073
800,414

1,541,610
6,007
922,664
208,224
4,265
400,450
1,798,429
837,543
960,886
834,124

374,735
431,466
211,187
211,187
0
220,279

819,544
450,397
211,187
211,187
0
239,210

800,414
443,267
211,187
211,187
0
232,080

834,124
602,465
211,187
211,187
0
391,278

1,170,775
784,880
385,895
1,039,908

2,059,175
1,383,875
675,300
1,794,604

1,687,217
1,206,048
481,169
1,399,146

2,454,893
718,315
1,736,578
1,869,566

130,867
70,620

264,571
83,091

288,071
91,791

585,327
212,806

(Thousand Rupees)
2009
2010
1,925,508
58,460
2,042,232
1,860,224
62,347
0
4,362
2,462
1,135,115
9,644
831,543
8,478
0
285,450
1,011,608
906,015
105,593
1,156,738
702,556
271,360
0
588
182,234
892,277
211,187
211,187
0
184,529
0
184,529
496,561

1,965,041
121,334
2,915,894
1,836,654
64,986
0
4,365
2,688
1,345,445
14,540
954,493
732
0
375,680
1,502,702
1,049,716
452,986
914,546
510,166
230,855
0
533
172,992
893,238
211,187
211,187
0
208,350
0
208,350
473,701
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
386,004

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(51,289)
5,380
0
0

13,548
9,826
0
0

(8,968)
9,308
0
0

158,224
16,149
21,119
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
117,148

806,201
0
(56,669)
1,203,729

1,269,941
0
3,722
645,425

1,243,681
0
(18,276)
751,580

1,436,589
0
120,956
837,543

2,049,015
702,556
68,884
1,608,571

1,807,784
510,166
1,832
1,559,882

0.07
9.67
9.07
0.44
0.56
88.82
5.22
-2.09
-11.16
-6.01

0.22
8.57
1.35
0.75
0.74
87.15
5.06
0.50
3.07
1.31

0.08
12.97
0.20
0.59
0.73
82.93
5.46
-0.32
-2.01
-0.71

0.12
10.33
8.48
0.76
0.86
76.16
4.37
5.19
30.26
11.81
6.73
2.66

0.02
11.40
0.29
0.94
1.12
79.09
2.43
3.65
15.39
6.60
3.17
3.47
1.36
3.98
0.05
4.76
42.25

0.01
7.69
0.02
1.34
0.90
86.89
2.71
2.11
7.54
3.49
1.09
4.65
1.20
1.52
0.16
1.09
42.30

70,620

83,091

91,791

212,806

113,256

176,425

218,853

253,484

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

217

2.24

6.00

2.52

-4.38
0.00
-2.68
20.43

0.66
0.00
0.18
21.33

-0.53
0.00
-0.87
20.99

6.45
0.00
6.73
28.53

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

281,339

287,539

279,668

284,369

939,837
281,339
34,686
0

968,462
287,539
33,856
0

987,319
279,668
33,114
0

1,017,459
284,369
32,129
0

510,113
367,722
9,841
0
10,000
122,550
255,368
0
255,368
0

475,708
82,403
197,104
52,955
26,393
116,853
189,957
0
189,957
0

494,413
298,801
16,130
9,667
23,000
146,815
151,311
0
151,311
0

644,906
221,744
154,038
91,528
50,843
126,753
223,353
0
223,353
0

0
536,084
120,111
120,111
0
415,973

0
573,290
120,111
120,111
0
453,179

0
622,770
120,111
120,111
0
502,659

0
705,922
120,111
120,111
0
585,811

1,669,271
1,669,271
0
1,262,397

1,886,594
1,886,594
0
1,661,597

2,502,506
2,502,506
0
2,245,525

1,993,838
1,993,838
0
1,681,710

406,874
91,854

224,997
85,503

256,981
101,316

312,128
114,943

(Thousand Rupees)
2009
2010
414,651
4,159
1,095,086
347,352
32,114
0
53,230
9,910
820,806
41,558
10,140
394
0
768,714
237,982
0
237,982
71,827
0
0
0
17,624
54,203
925,648
120,111
120,111
0
779,570
27,534
752,036
25,967

416,621
2,201
1,056,534
316,895
38,136
0
76,064
21,461
517,113
359,781
4,069
1,991
0
151,272
85,607
0
85,607
69,302
0
0
0
18,254
51,048
778,825
120,111
120,111
0
627,488
27,534
599,954
31,226
3,654,162
3,654,162
0
3,561,729
3,309,252
252,477
92,433
123,178
6,373
116,805
173,030
61,056
57,148
(44,779)
36,712
0
0
(237,141)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

318,283
117,000
90,083
0

139,881
52,000
54,050
0

150,533
54,508
54,050
0

186,876
68,620
60,056
0

2,828,705
2,828,705
0
2,245,547
1,840,204
405,343
583,158
144,575
6,545
138,030
88,666
23,700
20,976
442,365
141,274
120,111
0
647,694

536,084
0
111,200
0

573,290
0
33,831
0

622,770
0
41,975
0

705,922
0
58,200
0

997,475
0
180,980
0

848,127
0
(81,491)
0

1.48
0.51
0.00
2.11
2.00
75.63
0.48
45.26
66.84
66.84
2.23
169.62

0.85
0.94
2.81
2.47
2.50
88.07
0.33
17.99
25.22
25.22
1.63
9.57

2.19
0.77
0.39
3.23
3.27
89.73
0.24
19.58
25.17
25.17
1.78
155.15

1.63
1.05
4.59
2.15
2.89
84.35
0.32
21.94
28.13
28.13
1.97
12.94

0.18
0.84
0.01
2.29
3.45
79.38
0.33
40.87
54.23
51.94
2.51
278.96
22.09
15.64
2.09
25.07
77.07

4.23
1.67
0.05
3.91
6.04
97.47
0.20
-4.13
-5.25
-4.85

91,854

85,503

101,316

114,943

8,575

17,644

19,172

21,011

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

218

19.07
0.00
16.76
44.63

7.41
0.00

6.02
0.00
7.99
51.85

9.37
0.00
9.85
58.77

898.05
0.22
-1.23
-1.53
-6.78
64.84

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

4,626,198

5,079,931

5,983,513

6,925,553

6,021,748
4,626,198
169,131
0

6,764,114
5,079,931
313,234
0

7,967,517
5,982,153
362,753
1,360

9,363,532
6,923,559
383,133
1,994

5,504,750
101,142
941,516
330,843
3,541,160
590,089
4,903,762
4,471,665
432,097
2,077,184

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

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

5,481,235
346,394
120,258
407,578
1,325,349
3,281,656
6,394,840
5,137,156
1,257,684
2,347,867

2,077,184
3,150,002
540,537
388,430
152,107
2,609,465

1,245,175
3,359,719
579,365
579,365
0
2,780,354

1,930,499
4,425,372
579,365
579,365
0
3,846,007

2,347,867
3,664,081
695,238
695,238
0
2,968,843

5,631,408
5,215,573
415,835
5,150,019

6,013,939
5,299,179
714,760
5,747,356

7,006,433
6,198,047
808,386
6,789,474

8,807,730
6,753,788
2,053,942
8,103,625

481,389
224,351

266,583
431,226

216,959
721,910

704,105
1,007,288

(Thousand Rupees)
2009
2010
8,572,876
350,667
9,143,508
6,385,995
392,646
1,001
553,296
1,281,917
1,600,545
24,508
1,022,608
13,696
260,322
279,411
7,365,047
5,818,101
1,546,946
1,454,847
1,437,221
0
0
12,314
5,312
1,353,527
695,238
695,238
0
(1,041,155)
0
(1,041,155)
1,699,444

7,611,345
88,462
7,149,750
4,162,523
329,651
1,249
415,682
2,943,429
657,449
33,514
131,989
14,494
143,976
333,476
6,567,466
4,637,080
1,930,386
1,208,295
1,196,503
0
0
9,485
2,307
493,033
695,238
695,238
0
(1,901,630)
0
(1,901,630)
1,699,425
7,745,611
6,741,584
1,004,027
7,003,746
5,133,277
1,870,469
741,865
347,679
93,100
254,579
348,220
989,230
961,230
(534,108)
53,500
0
0
(96,642)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

179,697
28,000
0
58,265

(286,527)
34,700
0
0

908,988
42,336
57,936
0

(974,625)
21,445
0
0

5,101,667
3,898,835
1,202,832
4,783,640
3,188,033
1,595,607
318,027
926,536
117,110
809,426
407,017
1,259,768
1,243,602
(1,841,910)
18,835
0
0
(304,480)

5,227,186
0
151,697
4,471,665

4,604,894
0
(321,227)
6,159,896

6,355,871
0
808,716
3,903,927

6,011,948
0
(996,070)
5,137,156

2,808,374
1,437,221
(1,860,745)
7,255,322

1,701,328
1,196,503
(587,608)
5,833,583

0.81
4.96
5.87
0.56
1.12
91.45
2.22
2.20
6.97
4.04

0.52
11.67
3.61
0.51
0.93
95.57
2.49
-2.62
-8.80
-5.83

0.52
13.17
1.01
0.64
1.08
96.90
1.47
8.03
23.35
16.59
14.96
6.55

0.33
11.45
4.63
0.71
0.86
92.01
2.39
-8.36
-24.10
-15.76

0.04
24.69
0.27
0.50
0.22
93.77
6.52
-16.31
-73.42
-41.77

0.03
12.77
0.19
0.94
0.10
90.42
15.77
-5.79
-57.85
-23.69

224,351

431,226

721,910

1,007,288

279,447

701,689

922,521

1,008,589

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

219

5.98

3.30

73.24

4.99
-0.48
-36.10
-0.03
-26.76
19.47

58.68
0.44
-6.90
-0.01
-8.45
7.09

3.19
0.00
3.91
81.10

-4.76
0.00
-5.54
57.99

12.97
0.00
14.96
76.38

-11.07
0.00
-14.33
52.70

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

302,686

277,445

260,102

365,605

790,860
302,686
26,506
0

792,065
277,445
27,336
0

798,678
260,102
27,806
0

932,905
365,605
28,724
0

232,445
8,501
2,278
21,476
0
200,190
306,523
61,634
244,889
183,530

221,890
5,036
2,326
24,042
0
190,486
277,388
38,141
239,247
136,479

352,222
18,455
139,581
0
0
194,186
513,478
77,651
435,827
50,000

421,095
14,996
177,131
79
0
228,889
511,438
55,000
456,438
145,000

183,530
45,078
104,250
104,250
0
(59,172)

136,479
85,468
104,250
104,250
0
(18,782)

50,000
48,846
104,250
104,250
0
(55,404)

145,000
130,262
104,250
104,250
0
26,012

595,382
595,382
0
613,550

1,049,480
1,049,480
0
939,580

867,894
867,894
0
824,418

1,020,292
776,319
243,973
911,977

(18,168)
41,102

109,900
36,846

43,476
34,549

108,315
71,163

(Thousand Rupees)
2009
2010
764,679
0
943,790
763,220
43,801
0
0
1,459
154,991
74,059
6,360
611
0
73,962
145,588
55,000
90,588
472,482
90,000
50,000
0
0
332,482
301,601
104,250
104,250
0
(170,904)
0
(170,904)
368,255

728,114
0
973,625
727,232
76,117
0
0
882
171,862
51,193
5,753
671
0
114,245
133,524
30,000
103,524
424,547
60,000
50,000
0
673
313,874
341,905
104,250
104,250
0
(96,043)
0
(96,043)
333,698
1,697,436
1,697,436
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
71,685

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(66,574)
2,800
0
0

45,089
4,700
10,425
0

(12,242)
3,746
0
0

8,259
2,440
0
0

1,108,759
1,108,759
0
995,246
749,521
245,725
113,513
195,660
1,715
193,945
70,783
34,635
34,133
(86,831)
17,050
0
0
114,995

228,608
0
(69,374)
61,634

221,947
0
29,964
38,141

98,846
0
(15,988)
77,651

275,262
0
5,819
55,000

774,083
90,000
(103,881)
145,000

766,452
60,000
871
90,000

0.10
2.72
3.61
1.11
0.76
103.05
10.87
-11.49
-80.47
-31.15

0.10
2.94
2.29
2.10
0.80
89.53
4.84
8.72
69.08
20.01
3.87
451.20

0.04
3.88
0.00
1.42
0.69
94.99
11.54
-2.20
-18.23
-7.63

0.03
3.10
0.01
1.30
0.82
89.38
5.04
1.18
9.22
4.42

0.51
3.12
0.06
1.21
1.06
89.76
2.05
-10.18
-40.21
-16.55

0.39
2.94
0.04
1.89
1.29
92.26
1.63
3.09
8.74
3.65
1.08
295.06
1.57
1.66
0.13
1.08
32.80

41,102

36,846

34,549

71,163

16,184

30,894

33,694

31,647

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

261.36

220

6.22

5.76

174.33
-1.54
-7.83
0.19
-9.96
28.93

-11.18
0.00
-6.65
4.32

4.30
0.00
3.87
8.20

-1.41
0.00
-1.53
4.69

0.81
0.00
0.56
12.50

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,382,341

3,051,617

3,867,656

5,324,185

2,825,200
2,382,341
29,316
0

3,560,924
3,051,617
67,074
0

4,440,465
3,867,656
509,307
0

6,017,761
5,324,185
125,383
0

1,095,182
230,390
489,357
8,526
0
366,909
1,195,750
708,980
486,770
1,174,705

2,343,197
345,928
1,192,408
25,380
0
779,481
2,735,617
1,791,638
943,979
1,531,984

3,394,176
60,739
1,921,053
17,136
0
1,395,248
3,670,658
1,978,366
1,692,292
1,839,953

3,486,798
11,214
2,764,217
22,775
0
688,592
5,725,387
2,386,001
3,339,386
1,553,826

1,174,705
1,107,068
700,139
700,139
0
406,929

1,531,984
1,127,213
700,139
700,139
0
427,074

1,839,953
1,751,221
1,177,063
1,177,063
0
574,158

1,553,826
1,531,770
1,177,063
1,177,063
0
354,707

2,462,174
2,462,174
0
2,223,883

3,460,480
3,460,480
0
3,068,322

2,415,169
2,415,169
0
1,919,316

2,694,583
2,694,583
0
2,176,382

238,291
67,729

392,158
108,065

495,853
111,917

518,201
152,773

(Thousand Rupees)
2009
2010
5,530,639
0
6,297,399
5,471,067
129,755
0
0
59,573
2,776,644
25,215
2,060,184
0
0
691,245
2,906,310
2,208,045
698,264
3,835,424
758,522
456,574
0
43,790
2,576,538
1,565,548
1,177,063
1,177,063
0
388,485
388,485
0
0

5,530,639
0
6,297,399
5,471,067
129,755
0
0
59,573
2,776,644
25,215
2,060,184
0
0
691,245
2,906,310
2,208,045
698,264
3,835,424
758,522
456,574
0
43,790
2,576,538
1,565,548
1,177,063
1,177,063
0
388,485
388,485
0
0
5,805,824
5,805,824
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
574,732

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

112,884
10,802
0
0

72,270
15,302
0
0

24,127
10,558
0
0

(139,425)
0
5,885
0

5,805,824
5,805,824
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
574,732

2,281,773
0
102,082
708,980

2,659,197
0
56,968
1,791,638

3,591,174
0
13,569
1,978,366

3,085,596
0
(145,310)
2,386,001

5,400,972
758,522
95,012
2,966,568

5,400,972
758,522
95,012
2,966,568

0.01
18.95
0.85
0.31
0.61
80.77
4.75
-1.73
-8.49
-4.18
-23.69
0.97

0.01
11.90
0.00
0.70
0.96
81.80
4.31
1.46
8.05
2.94

0.01
11.90
0.00
0.70
0.96
81.80
4.31
1.50
7.97
2.31

67,729

108,065

111,917

152,773

58,567

215,776

363,592

510,658

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.20
2.38
0.35
0.71
0.92
90.32
2.14
4.51
13.72
7.38

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

221

0.14
6.24
0.73
0.64
0.86
88.67
3.79
1.63
6.47
2.93

0.02
15.05
0.71
0.33
0.92
79.47
3.15
0.38
1.68
0.77

5.03

2.90

1.26

4.58
0.00
1.46
15.81

2.09
0.00
0.81
16.10

1.00
0.00
0.12
14.88

-5.17
0.00
-1.18
13.01

2.82
1.18
2.15
0.09
0.81
13.30

2.82
1.18
2.15
0.09
0.81
13.30

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

36,329

32,436

29,207

26,291

118,751
36,329
4,076
0

116,571
32,436
3,624
0

116,571
29,207
3,229
0

116,559
26,291
2,904
0

227,540
152,006
416
0
17,048
58,070
17,259
0
17,259
0

215,137
140,376
4,890
29
16,872
52,970
26,741
0
26,741
0

184,822
109,916
2,097
29
20,269
52,511
25,680
0
25,680
0

167,085
52,888
2,097
29
17,482
94,589
16,614
0
16,614
0

0
246,610
14,000
14,000
0
232,610

0
220,832
14,000
14,000
0
206,832

0
188,349
14,000
14,000
0
174,349

0
176,762
14,000
14,000
0
162,762

201,947
187,142
14,805
178,399

19,715
19,715
0
44,282

23,175
23,175
0
58,494

572
572
0
14,970

23,548
11,154

(24,567)
8,292

(35,319)
9,008

(14,398)
8,178

(Thousand Rupees)
2009
2010
150,168
0
194,653
111,338
2,671
0
15,338
23,492
113,424
68,161
2,097
0
0
43,166
3,815
0
3,815
11,699
0
0
0
2,496
9,203
248,078
14,000
13,500
500
132,763
134,000
(1,237)
101,315

139,775
0
194,653
108,035
3,303
0
16,048
15,692
115,656
24,836
0
0
50,204
40,616
3,552
0
3,552
13,800
0
0
0
3,887
9,913
238,079
14,000
13,500
500
125,086
134,000
(8,914)
98,993
3,959
3,959
0
11,919
2,097
9,822
(7,960)
9,251
0
9,251
10,600
22
0
(9,289)
30,734
0
0
(54,363)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

24,228
1,071
0
0

(11,485)
94
0
0

(35,785)
103
0
0

(8,800)
0
0
0

1,268
1,268
0
10,424
0
10,424
(9,156)
9,096
0
9,096
11,525
41
0
(7,199)
10,860
0
0
(23,329)

246,610
0
23,157
0

220,832
0
(11,579)
0

188,349
0
(35,888)
0

176,762
0
(8,800)
0

259,777
0
(18,059)
0

251,879
0
(40,023)
0

9.80
0.07
0.00
0.77
13.18
88.34
0.07
9.59
10.41
10.41

5.88
1.63
0.15
0.08
8.05
224.61
0.12
-4.49
-4.91
-4.91

5.07
5.86
0.13
0.11
7.20
252.40
0.14
-15.50
-17.49
-17.49

4.24
5.77
5.07
0.00
10.06
2,617.13
0.09
-4.32
-4.82
-4.82

17.87
3.23
0.00
0.00
29.73
822.08
0.06
-3.15
-3.39
-3.30

21.13
0.56
0.00
0.02
32.56
301.06
0.07
-3.58
-3.82
-3.63

11,154

8,292

9,008

8,178

137

321

1,357

33

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

222

485.45

4.03

11.05

0.27

0.60

12.00
0.00
16.54
176.15

-58.26
0.00
-8.27
157.74

-154.41
0.00
-25.63
134.54

-1,538.46
0.00
-6.29
126.26

-567.74
-1.50
-13.38
183.76

-234.63
-3.13
-29.65
176.35

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

284,414

307,633

282,032

256,264

605,621
284,414
27,642
0

653,964
307,633
25,124
0

651,100
282,032
22,737
0

683,062
256,264
23,496
0

860,047
395,928
28,813
23,177
270,853
141,276
144,541
476
144,065
298

923,798
466,913
75,159
25,877
224,993
130,856
204,954
69,883
135,071
0

787,130
320,822
117,838
11,863
224,965
111,642
111,168
0
111,168
0

992,902
106,042
319,696
16,297
104,206
446,661
257,529
157,795
99,734
0

298
999,622
37,500
37,500
0
962,122

0
1,026,477
37,500
37,500
0
988,977

0
957,994
37,500
37,500
0
920,494

0
991,637
37,500
37,500
0
954,137

864,551
566,273
298,278
717,271

240,742
211,434
29,308
262,694

276,709
276,709
0
394,304

434,778
434,778
0
466,498

147,280
39,155

(21,952)
33,666

(117,595)
38,597

(31,720)
55,055

(Thousand Rupees)
2009
2010
3,467,629
45,813
4,464,103
3,250,880
330,145
900
100,489
69,547
1,557,115
201,472
913,002
55,446
0
387,195
1,367,224
921,412
445,812
1,173,592
947,499
0
0
19,970
206,123
2,483,928
37,500
37,500
0
1,127,056
71,477
1,055,579
1,319,372

3,192,255
2,463
4,558,278
3,041,843
304,286
253
93,477
54,219
1,247,132
126,277
377,455
109,089
268,664
365,647
753,607
233,334
520,273
947,807
736,664
0
0
24,176
186,967
2,737,973
37,500
37,500
0
1,491,953
244,853
1,247,100
1,208,520
6,650,351
6,650,351
0
5,978,269
4,729,617
1,248,652
672,082
200,833
15,509
185,324
335,049
259,499
255,117
305,603
66,715
3,750
0
1,077,771

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

137,953
6,300
0
0

48,251
1,800
0
0

(104,827)
1,349
0
0

(5,396)
302
0
0

4,500,780
4,500,780
0
4,074,153
2,531,928
1,542,225
426,627
151,621
17,496
134,125
270,088
401,842
397,349
(85,738)
36,086
11,250
0
1,489,698

999,920
0
131,653
476

1,026,477
0
46,451
69,883

957,994
0
(106,176)
0

991,637
0
(5,698)
157,795

3,657,520
947,499
(133,074)
1,868,911

3,685,780
736,664
235,138
969,998

5.02
3.46
4.29
0.26
7.08
142.50
0.12
-9.11
-10.56
-10.56

0.88
2.45
3.75
0.35
3.86
107.30
0.26
-0.47
-0.55
-0.55

0.19
8.93
1.23
0.90
1.14
90.52
1.02
-2.73
-4.93
-3.69
-10.83
4.93
0.78
-1.90
0.59
-32.49
662.38

0.67
3.90
1.64
1.50
1.65
89.89
0.62
6.46
11.70
8.32
63.70
17.62
2.20
4.60
0.63
63.70
730.13

39,155

33,666

38,597

55,055

1,502

3,838

9,571

10,657

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

4.77
0.17
2.68
0.76
5.95
82.96
0.14
12.82
14.74
14.73

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

223

3.50
1.59
10.75
0.20
4.51
109.12
0.20
4.06
4.76
4.76

30.01

3.20

2.35

1.36

15.96
0.00
35.11
266.57

20.04
0.00
12.39
273.73

-37.88
0.00
-28.31
255.47

-1.24
0.00
-1.52
264.44

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

701,374

660,818

664,492

1,086,852

1,140,027
701,374
78,311
0

1,167,856
660,818
72,100
0

1,241,032
664,492
70,645
0

1,730,119
1,086,852
67,705
0

353,572
21,464
52,654
11,229
0
268,225
744,541
62,245
682,296
39,091

516,790
16,403
230,743
15,944
0
253,700
911,217
128,133
783,084
10,897

556,478
53,289
200,583
20,184
0
282,422
966,525
33,584
932,941
0

1,028,665
117,795
278,566
76,375
0
555,929
1,750,319
334,834
1,415,485
17,500

39,091
271,314
150,232
150,232
0
121,082

10,897
255,494
150,232
150,232
0
105,262

0
254,445
150,232
150,232
0
104,213

17,500
347,698
150,232
150,232
0
197,466

1,592,582
1,592,582
0
1,307,017

1,900,927
1,900,927
0
1,787,092

1,971,003
1,971,003
0
1,850,401

2,434,136
2,023,365
410,771
2,144,556

285,565
48,210

113,835
48,731

120,602
54,921

289,580
97,941

(Thousand Rupees)
2009
2010
1,727,796
34,771
2,468,703
1,685,973
139,970
0
0
7,052
1,245,822
24,824
191,207
103,130
0
926,660
1,199,468
545,371
654,097
1,253,112
382,500
724,800
0
9,776
136,036
521,037
150,232
150,232
0
370,805
0
370,805
0

1,706,550
11,440
2,621,906
1,687,123
152,053
0
0
7,987
1,305,885
16,195
600,995
188,526
0
500,167
1,207,049
798,061
408,988
1,195,204
425,000
574,800
0
14,114
181,290
610,182
150,232
150,232
0
459,950
0
459,950
0
6,535,895
6,535,895
0
5,848,897
5,186,204
662,693
686,998
168,614
25,147
143,467
207,380
302,048
297,278
234,591
65,545
22,535
0
(4,740)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

214,870
6,933
22,535
0

23,263
8,383
15,023
0

28,002
8,603
0
0

151,388
4,108
22,535
0

3,804,992
3,804,992
0
3,145,049
2,972,104
172,945
659,944
168,804
16,814
151,990
212,312
196,218
192,462
307,072
61,211
30,046
0
176,694

310,405
0
185,402
62,245

266,391
0
(143)
128,133

254,445
0
19,399
33,584

365,198
0
124,745
334,834

1,774,149
382,500
215,815
927,871

1,805,386
425,000
146,511
1,223,061

0.04
1.61
0.71
1.51
0.47
82.07
2.89
21.75
147.39
108.84
9.23
30.25

0.04
2.91
0.84
1.61
0.57
94.01
3.61
2.08
8.83
8.07
0.99
8.24

0.08
2.19
1.02
1.61
0.58
93.88
3.80
2.33
10.98
10.75

0.11
2.27
3.14
1.15
0.59
88.10
5.08
9.07
50.28
48.86
6.54
8.74

0.11
5.16
2.71
1.28
1.04
82.66
4.71
12.07
70.69
28.71
8.18
19.90
2.60
8.07
0.07
16.37
34.68

0.17
4.62
2.88
2.17
1.08
89.49
3.94
7.84
41.48
13.11
7.50
10.88
1.79
3.59
0.00
11.25
40.62

48,210

48,731

54,921

97,941

25,591

55,331

43,124

55,191

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

224

9.83

13.49
0.00
13.84
18.06

1.22
0.00
0.99
17.01

1.42
0.00
1.29
16.94

6.22
0.00
9.80
23.14

OTHER FOOD PRODUCTS N.E.S.

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

12,796,641

16,484,695

20,181,331

25,079,725

20,910,953
12,275,868
1,287,800
520,773

25,091,191
16,010,489
1,395,590
474,206

30,647,854
19,756,046
1,882,868
425,285

37,153,028
24,702,948
2,013,026
376,777

14,239,626
2,047,750
6,820,192
1,235,829
261,161
3,874,694
15,563,326
4,886,823
10,676,503
3,073,236

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

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

25,781,930
1,013,691
14,327,898
2,741,646
1,416,454
6,282,241
28,724,729
10,635,396
18,089,333
7,080,574

3,073,236
8,399,705
2,544,776
2,471,776
73,000
5,854,929

1,219,480
9,107,017
2,553,738
2,480,738
73,000
6,553,279

1,584,278
11,403,923
2,585,091
2,512,091
73,000
8,818,832

7,080,574
15,056,352
2,566,074
2,488,291
77,783
12,490,278

61,743,063
59,954,127
1,788,936
46,346,454

74,516,656
72,399,071
2,117,585
55,506,952

89,774,335
86,734,652
3,039,683
66,392,688

113,856,154
110,365,316
3,490,838
85,957,901

15,396,609
9,686,590

19,009,704
12,090,737

23,381,647
14,868,516

27,898,253
17,837,319

(Thousand Rupees)
2009
2010
29,191,245
2,208,510
40,195,814
24,430,171
2,465,055
632,242
1,044,174
876,148
24,416,646
1,940,408
14,462,649
2,547,246
62,914
5,403,429
24,892,120
4,881,796
20,010,324
10,425,066
1,392,772
4,605,975
0
327,060
4,099,259
18,290,707
2,699,823
2,627,823
72,000
12,803,295
389,519
4,293,461
2,787,589

33,499,154
4,766,036
39,479,099
25,904,023
2,414,421
1,124,240
1,174,581
530,274
31,512,851
3,393,251
18,761,312
2,510,215
131,047
6,717,026
31,456,763
7,930,429
23,526,334
11,252,702
1,177,649
5,646,111
0
358,802
4,070,140
22,302,540
3,079,639
3,007,639
72,000
16,351,976
902,904
5,978,106
2,870,925
142,565,109
132,984,759
9,580,350
103,705,122
78,786,362
24,918,760
38,859,987
22,612,292
17,422,026
5,190,266
7,858,492
1,537,309
567,440
15,384,771
4,801,525
5,085,720
1,424,970
13,666,386

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,881,206
1,572,792
2,052,888
17,924

6,669,456
1,651,840
9,127,743
19,882

7,902,242
2,045,435
3,707,491
46,699

9,091,434
2,964,363
4,103,602
50,614

116,783,931
109,229,744
7,554,187
83,107,826
62,662,878
20,444,948
33,676,105
20,757,412
15,534,431
5,222,981
6,979,956
1,717,923
746,218
11,979,800
3,787,561
4,094,125
1,309,787
13,873,249

11,472,941
0
2,255,526
4,886,823

10,326,497
0
(4,110,127)
6,858,090

12,988,201
0
2,149,316
7,093,942

22,136,926
0
2,023,469
10,635,396

28,715,773
1,392,772
4,098,114
6,274,568

33,555,242
1,177,649
5,497,526
9,108,078

0.23
0.73
2.00
2.28
0.91
75.06
2.22
23.75
82.24
58.40
2.10
9.05

0.16
1.09
2.15
2.24
0.73
74.49
2.66
22.11
76.19
61.19
0.55
9.12

0.15
1.22
2.26
2.20
0.74
73.96
2.57
21.35
77.05
67.79
1.58
8.71

0.18
1.44
2.41
2.24
0.90
75.50
2.38
19.85
68.72
51.77
1.49
7.95

0.18
1.47
2.18
2.18
0.98
71.16
1.93
22.93
71.85
47.12
2.00
8.07
17.05
10.26
0.39
31.86
71.14

0.19
1.08
1.76
2.19
1.00
72.74
1.92
25.94
75.80
49.41
2.08
7.60
28.11
10.79
0.32
35.86
75.57

9,686,590

12,090,737

14,868,516

17,837,319

449,983

810,978

1,099,199

1,636,703

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

226

9.53
0.00
22.21
43.30

8.95
0.00
20.23
36.71

8.80
0.00
29.57
57.59

7.99
0.00
31.32
76.95

Growth with Composition of Assets & Liabilites

Billion Rs

40
35
30
25
20
15
10
5
0

35%
29.1%

30%
26.4%

25%
21.9%

20%
15%

14.8%

10%

7.9%

5%

0%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

160
140

Growth
30%

28.4%
22.1%

25%

Billion Rs

120

20%

100
15.4%

80

15%

60

10%

40
5%

20
0

0%
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
80

71.85

75.8

2009

2010

70

2010

50

47.12

49.41

25.94

35.86

31.86

30

Percentage

Percentage

2009

40
35

60
40
30
20
10
0

Net Profit Before Tax

25
20

22.93

10.26 10.79

15
10
5

Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

0.98

1 1.93

1.92

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

Clover 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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

39,487

58,031

59,498

82,390

110,168

95,422
39,487
14,355
0

120,043
58,031
8,540
0

132,083
59,498
11,350
0

159,549
82,390
8,124
0

194,332
105,940
12,431
586

195,925
96,608
12,079
344

295,814
172,622
72,400
15,010
25,000
10,782
120,840
386
120,454
320

411,406
230,638
105,753
35,668
25,000
14,347
210,899
178
210,721
142

515,201
92,453
104,875
36,200
271,247
10,426
257,680
0
257,680
0

545,815
72,892
208,851
78,626
145,819
39,627
249,146
0
249,146
0

320
214,141
54,600
54,600
0
159,541

142
258,396
54,600
54,600
0
203,796

0
317,019
65,520
65,520
0
251,499

744,675
744,675
0
494,109

101,585

3,642
613,309
140,198
230,135
112,097
60,598
70,281
360,007

4,633
660,151
116,781
215,865
111,493
128,731
87,281
384,348

360,007
8,848

384,348
7,683

0
379,059
78,624
78,624
0
300,435

8,848
354,622
94,349
94,349

7,683
369,705
94,349
94,349

260,273

275,356

943,097
939,817
3,280
632,995

1,159,043
1,159,043
0
787,740

1,383,181
1,383,181
0
1,008,541

1,035,617
1,035,617

1,241,272
1,241,272

250,566
147,142

310,102
192,142

371,303
244,778

374,640
255,520

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

779,506
616,979
162,527
256,111
243,385
212,066
31,319

1,456

1,577

2,352

1,636

979,019
714,186
264,833
262,253
238,776
212,501
26,275
69,415
1,647
564
31,986
16,902
14,152
55,349
45,833

147,142

192,142

244,778

255,520

106,071
38,100
24,570
0

125,336
41,000
32,760
10,920

132,393
48,000
29,484
13,104

141,809
38,688
27,518
15,725

6,182
5,282
14,240
10,357
0
55,349
42,613

214,461
0
43,401
386

258,538
0
51,576
178

317,019
0
54,909
0

379,059
0
75,603
0

363,470
0
3,883
0

377,388
0
932
0

1.76
0.20
2.02
2.22
2.45
66.35
0.57
33.87
59.51
59.34
2.77
10.29

1.38
0.17
3.78
2.01
1.95
67.12
0.82
31.15
53.05
53.00
2.57
8.92

1.55
0.20
3.12
2.02
2.00
67.96
0.81
25.36
46.02
46.01
2.86
11.05

1.19
0.12
5.68
2.20
2.19
72.91
0.66
23.58
40.75
40.75
3.75
6.62

0.87
0.60
10.82
1.43
1.70
75.27
1.04
2.11
3.88
3.84

0.93
0.13
8.98
1.63
1.72
78.87
1.06
4.31
8.83
8.63
1.07
5.75
57.71
2.58
0.12
1.60
39.18

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

228

14.24
0.00
12.45
39.22

13.29
0.00
15.45
47.33

11.42
0.00
12.88
48.39

10.25
0.00
13.12
48.21

4.50
3.70
1.38
0.12
0.41
37.59

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

114,842

109,289

145,136

136,071

273,478
114,842
11,404
0

278,292
109,289
10,369
0

323,587
145,136
9,448
0

325,169
136,071
13,616
0

18,748
98
13,567
130
2,316
2,637
109,240
21,956
87,284
10,978

29,199
1,354
11,031
2,250
2,316
12,248
139,904
10,978
128,926
0

26,281
3,104
11,161
902
0
11,114
200,452
0
200,452
0

45,967
647
31,597
602
2,316
10,805
240,229
0
240,229
0

10,978
13,372
90,000
90,000
0
(76,628)

0
(1,416)
90,000
90,000
0
(91,416)

0
(29,035)
90,000
90,000
0
(119,035)

0
(58,191)
90,000
90,000
0
(148,191)

12,492
9,349
3,143
30,721

24,208
20,431
3,777
41,721

46,922
46,922
0
69,406

119,336
116,989
2,347
140,316

(18,229)
4,249

(17,513)
4,232

(22,484)
5,692

(20,980)
8,868

(Thousand Rupees)
2009
2010
284,262
0
325,169
136,071
13,616
148,191
0
0
45,967
647
31,597
602
2,316
10,805
240,229
0
240,229
0
0
0
0
0
0
90,000
90,000
90,000
0
0
0
0
0

284,262
0
325,169
136,071
13,616
148,191
0
0
45,967
647
31,597
602
2,316
10,805
240,229
0
240,229
0
0
0
0
0
0
90,000
90,000
90,000
0
0
0
0
0
119,336
116,989
2,347
0
0
0
119,336
8,868
0
8,868
0
1,666
0
108,802
597
0
0
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(22,386)
56
0
0

(14,159)
108
0
0

(28,294)
204
0
0

(29,351)
597
0
0

119,336
116,989
2,347
0
0
0
119,336
8,868
0
8,868
0
1,666
0
108,802
597
0
0
0

24,350
0
(22,442)
21,956

(1,416)
0
(14,267)
10,978

(29,035)
0
(28,498)
0

(58,191)
0
(29,948)
0

90,000
0
108,205
0

90,000
0
108,205
0

0.02
0.14
1.04
0.09
0.17
245.93
8.99
-15.59
-93.17
-48.68

0.04
0.15
9.29
0.17
0.21
172.34
-98.80
-10.41
-236.85
-123.48

0.02
0.25
1.92
0.27
0.13
147.92
-6.90
-18.26
185.83
185.83

0.01
1.40
0.50
0.66
0.19
117.58
-4.13
-16.61
67.30
67.30

0.01
1.40
0.50
0.36
0.19
0.00
2.67
42.48
684.10
684.10

0.01
1.40
0.50
0.36
0.19
0.00
2.67
32.95
120.89
120.89

4,249

4,232

5,692

8,868

18

36

118

1,666

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

229

0.92

2.19

4.20

3.78

3.78

3.78

-179.20
0.00
-2.49
1.49

-58.49
0.00
-1.59
-0.16

-60.30
0.00
-3.17
-3.23

-24.60
0.00
-3.33
-6.47

91.17
0.00
12.02
10.00

91.17
0.00
12.02
10.00

Financial Statement Analysis of Non Financial Sector 2010

Ismail 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

2005

2006

2007

2008

746,256

1,074,441

1,147,681

1,380,469

1,116,041
746,256
74,814
0

1,524,215
1,074,441
83,686
0

1,708,026
1,147,681
115,684
0

2,070,030
1,380,469
5,537
0

980,859
20,839
455,939
153,309
0
350,772
1,028,377
773,661
254,716
291,095

1,266,900
46,400
804,501
127,778
3,747
284,474
1,464,578
1,014,701
449,877
433,336

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

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

291,095
407,643
240,575
240,575
0
167,068

433,336
443,427
240,575
240,575
0
202,852

843,710
689,231
240,575
240,575
0
448,656

1,219,395
641,058
240,575
240,575
0
400,483

1,934,935
1,593,286
341,649
1,679,729

2,207,339
1,925,848
281,491
1,884,913

3,001,414
2,706,886
294,528
2,478,393

4,192,311
3,792,501
399,810
3,449,379

255,206
187,978

322,426
199,509

523,021
352,793

742,932
438,904

(Thousand Rupees)
2009
2010
2,604,511
41,723
2,468,724
1,637,879
143,718

2,861,395
297,304
2,598,248
1,612,056
162,099

914,193
10,716
3,046,543
51,142
2,161,761
454,376

941,230
10,805
3,623,518
59,412
2,704,680
391,153

379,264
2,980,684
1,670,700
1,309,984
1,947,293
1,230,661

468,273
3,551,008
2,019,092
1,531,916
1,206,237
1,103,066

716,632
723,077
240,575
240,575

103,171
1,727,668
505,208
505,208

482,502
50,000
432,502

1,222,460
579,265
643,195

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

6,533,518
5,737,419
796,099
5,374,175
3,231,279
2,142,896
1,159,343
478,459
402,240
76,219
336,310
474,857
211,482
304,763
93,548
88,411

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

187,978

199,509

352,793

438,904

51,275

102,027

166,545

278,069

38,654
9,855
1,020
0

45,429
11,193
3,609
0

73,268
14,736
24,058
0

126,155
19,875
36,076
0

299,638

765,268

698,738
0
27,779
773,661

876,763
0
30,627
1,014,701

1,532,941
0
34,474
1,242,506

1,860,453
0
70,204
1,522,630

2,670,370
1,230,661
114,545
2,901,361

2,933,905
1,103,066
122,804
3,122,158

0.17
2.65
7.92
1.12
0.95
86.81
3.24
2.53
9.84
5.32
28.23
4.24

0.12
4.62
5.79
0.94
0.87
85.39
4.28
2.23
10.68
5.77
9.49
2.74

0.17
9.67
8.97
0.90
1.02
77.96
6.82
3.13
23.45
7.06
4.17
2.34
1.59
3.16
0.06
6.26
30.06

0.13
7.27
5.99
1.01
1.02
82.26
2.75
5.02
24.87
10.88
2.39
2.42
2.44
4.66
0.16
4.18
34.20

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

230

0.14
5.55
6.32
0.79
1.17
82.57
4.50
2.39
12.94
6.08
2.43
2.47

0.52
6.63
6.29
0.92
1.18
82.28
6.14
3.02
18.97
7.44
2.95
2.64

2.00
0.00
1.20
16.94

2.06
0.00
1.42
18.43

2.44
0.00
2.43
28.65

3.01
0.00
4.42
26.65

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

229,977

233,786

272,348

323,939

408,959
229,977
24,183
0

431,454
232,166
21,299
1,620

489,169
270,277
22,217
2,071

565,933
322,282
26,088
1,657

248,565
11,766
151,439
14,110
0
71,250
165,507
76,464
89,043
51,579

249,621
14,699
163,275
19,496
0
52,151
209,658
117,035
92,623
36,842

306,040
26,666
185,037
45,932
0
48,405
293,710
160,597
133,113
22,105

397,433
10,910
288,699
39,068
0
58,756
453,174
303,448
149,726
7,368

51,579
261,456
50,400
50,400
0
211,056

36,842
236,907
50,400
50,400
0
186,507

22,105
262,573
50,400
50,400
0
212,173

7,368
260,830
50,400
50,400
0
210,430

915,764
915,764
0
790,778

863,369
863,369
0
758,716

992,533
992,533
0
832,180

1,190,615
1,190,615
0
1,000,802

124,986
89,663

104,653
101,719

160,353
103,332

189,813
150,500

(Thousand Rupees)
2009
2010
329,522
5,197
585,550
316,491
29,879
1,326

312,946
1,332
597,551
302,925
29,278
1,061

6,508
398,387
13,218
260,383
58,674

7,628
343,441
8,128
230,918
40,717

66,112
407,588
307,672
99,916
50,479

63,678
274,337
166,616
107,721
75,820

50,479
269,842
50,400
50,400

75,820
306,230
50,400
50,400

219,442

255,830

209,806

246,194

1,255,064
1,197,953
57,111
1,020,068
828,745
191,323
234,996
175,939
124,570
51,369

1,376,861
1,294,029
82,832
1,073,514
894,986
178,528
303,347
204,041
135,993
68,048

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

89,663

101,719

103,332

150,500

13,603

19,319

21,268

32,323

53,487

37,613

28,092
4,100
0
0

(3,480)
3,800
0
0

39,765
4,400
10,080
0

13,113
402
5,040
0

18,532
4,482
10,080
35,780
(36,674)

69,206
22,740
20,160
35,780
156,022

313,035
0
23,992
76,464

273,749
0
(7,280)
117,035

284,678
0
25,285
160,597

268,198
0
7,671
303,448

320,321
0
3,970
307,672

382,050
0
26,306
166,616

0.16
1.49
1.54
1.91
1.50
86.35
0.83
6.07
11.01
9.97

0.16
2.24
2.26
1.79
1.19
87.88
1.04
-0.72
-1.40
-1.19

0.25
2.14
4.63
1.72
1.04
83.84
1.20
7.49
15.92
14.24
3.51
5.36

0.11
2.71
3.28
1.65
0.88
84.06
1.77
2.02
5.01
4.74
2.52
4.12

0.18
4.26
4.67
1.72
0.98
81.28
1.70
2.56
6.98
6.30
1.39
4.82

0.18
2.73
2.96
2.10
1.25
77.97
1.14
10.00
24.03
19.71
2.30
5.96

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

231

6.05

5.29

3.07
0.00
4.76
51.88

-0.40
0.00
-1.44
47.01

4.01
0.00
7.02
52.10

1.10
0.00
2.52
51.75

1.48
-0.08
2.79
53.54

5.03
0.45
9.22
60.76

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,579

2,320

2,089

1,879

1,694

21,973
2,579
288
0

21,973
2,320
257
0

21,972
2,089
232
0

21,972
1,879
210
0

21,976
1,694
189

21,976
1,525
169

1,635
5
0
0
0
1,630
829,972
0
829,972
0

1,959
1,295
0
0
0
664
830,883
705,350
125,533
0

743
25
0
0
0
718
830,603
0
830,603
0

824
131
0
0
0
693
831,790
0
831,790
0

768
76

784
79

692
832,893

705
834,357

0
(825,758)
5,683
5,683
0
(831,441)

0
(826,604)
5,683
5,683
0
(832,287)

0
(827,771)
5,683
5,683
0
(833,454)

0
(829,087)
5,683
5,683
0
(834,770)

0
0
0
0

0
0
0
0

0
0
0
0

0
1,125

0
1,248

1,525

832,893
0

834,357
0

(830,431)
5,683
5,683

(832,048)
5,683
5,683

(836,114)
5,646
(841,760)

(837,731)
5,646
(843,377)

0
0
0
0

0
1,395

0
1,320

0
1,349
336
1,013

0
1,620
323
1,297

(1,617)
0
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,125

1,248

1,395

1,320

(1,125)
0
0
0

(846)
0
0
0

(1,167)
0
0
0

(1,316)
0
0
0

(1,344)
0
0

(45)

(825,758)
0
(1,125)
0

(826,604)
0
(846)
705,350

(827,771)
0
(1,167)
0

(829,087)
0
(1,316)
0

(830,431)
0
(1,344)
0

(832,048)
0
(1,617)
0

0.00

0.00

0.00

0.00

0.00

0.00

0.00
0.00

0.00
0.00

0.00
0.00

0.00
0.00

0.00
0.00

0.00
0.00

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

232

-1.01
-25.81
0.14
0.14

-1.01
-19.92
0.10
0.10

-1.00
-32.82
0.14
0.14

-1.00
-47.55
0.16
0.16

-1.00
-52.04
0.16
0.16

-1.00
-67.78
0.19
0.19

0.00
-1.98
-1,453.03

0.00
-1.49
-1,454.52

0.00
-2.05
-1,456.57

0.00
-2.32
-1,458.89

0.00
-2.36
-1,461.25

0.00
-2.85
-1,464.10

Financial Statement Analysis of Non Financial Sector 2010

Murree Brewery Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

636,144

773,617

743,801

2,906,058

3,028,168

782,365
636,144
56,401
0

967,861
773,617
58,828
0

1,027,212
743,801
91,203
0

3,258,982
2,906,058
73,510
0

3,548,859
2,946,626
125,210

3,380,638
2,997,183
87,174

601,301
221,608
174,227
31,548
70,497
103,421
269,233
2,897
266,336
2,893

675,023
139,044
269,072
28,615
75,761
162,531
391,240
1,872
389,368
799

865,468
151,262
347,640
43,860
182,050
140,656
428,652
6,041
422,611
3,440

1,001,153
113,689
492,664
77,581
0
317,219
505,274
1,614
503,660
1,612

78,207
3,335
1,031,676
222,140
503,415
86,697

96,405
5,026
1,364,710
552,986
595,396
38,885

2,893
965,319
89,620
89,620
0
875,699

799
1,056,601
98,582
98,582
0
958,019

3,440
1,177,177
108,440
108,440
0
1,068,737

1,612
3,400,325
119,284
119,284
0
3,281,041

1,142,730
1,142,730
0
895,228

1,672,544
1,672,544
0
1,373,042

2,421,956
2,421,956
0
2,009,874

2,541,283
2,541,283
0
2,034,558

247,502
122,919

299,502
142,264

412,082
200,916

506,725
244,710

3,098,614

219,424
369,718

177,443
502,344

369,718
154,370

502,344
175,502

154,370
3,535,756
131,213
131,213

175,502
3,785,478
144,334
144,334

1,046,111
30,681
668,388
2,358,432

1,294,452
30,681
916,729
2,346,692

2,217,358
2,217,358

2,578,533
2,578,533

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,595,963

1,777,770

1,777,770
800,763
335,514
215,637
119,877
94,415
2,507
14
524,581
209,252
72,167
141,694
562,528

169,322
53,000
25,094
17,924

214,023
23,827
44,810
8,962

259,898
81,452
54,220
10,844

296,616
101,922
59,642
11,928

1,595,963
621,395
293,745
186,218
107,527
84,586
5,350
4,179
340,854
125,022
65,607
128,573
265,273

968,212
0
91,228
2,897

1,057,400
0
145,386
1,872

1,180,617
0
124,226
6,041

3,401,937
0
135,052
1,614

3,690,126
0
150,226
0

3,960,980
0
243,162
0

1.20
0.08
2.76
0.92
2.23
78.34
0.28
13.90
18.72
18.66
4.64
6.56

0.62
0.08
1.71
1.15
1.73
82.09
0.37
15.94
21.17
21.13
4.24
6.22

0.88
0.03
1.81
1.51
2.02
82.99
0.37
17.00
23.27
23.23
3.29
6.97

0.38
0.03
3.05
0.65
1.98
80.06
0.15
10.75
12.96
12.95
3.26
5.16

0.84
0.24
3.91
0.55
2.79
71.98
0.15
8.56
9.83
9.61
3.29
4.40
82.56
15.37
0.51
16.45
269.47

1.18
0.10
1.51
0.58
2.72
68.95
0.18
12.31
14.33
13.71
4.37
4.33
37,471.07
20.34
0.83
21.85
262.27

122,919

142,264

200,916

244,710

874

1,347

674

707

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

233

14.82
0.00
12.98
107.71

12.80
0.00
19.29
107.18

10.73
0.00
16.46
108.56

11.67
0.00
16.32
285.06

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

230,865

369,938

496,223

637,519

371,796
226,575
23,124
4,290

527,565
365,874
28,624
4,064

683,312
493,444
36,212
2,779

876,250
635,325
54,471
2,194

477,866
5,579
356,655
75,877
0
39,755
446,749
278,345
168,404
78,331

598,022
83,025
367,235
101,940
0
45,822
524,194
224,231
299,963
194,694

692,235
18,146
477,007
112,585
0
84,497
662,172
263,313
398,859
158,406

1,109,136
13,496
755,259
259,091
0
81,290
1,104,468
591,682
512,786
126,262

78,331
183,651
42,505
42,505
0
141,146

194,694
249,072
42,505
42,505
0
206,567

158,406
367,880
42,505
42,505
0
325,375

126,262
515,925
55,257
55,257
0
460,668

2,070,780
1,850,363
220,417
1,673,628

2,465,457
2,251,339
214,118
1,894,194

3,147,341
2,869,311
278,030
2,328,857

4,042,028
3,653,216
388,812
3,056,251

397,152
344,941

571,263
446,623

818,484
624,293

985,777
717,901

(Thousand Rupees)
2009
2010
654,835
48,205
875,622
565,799
74,064
35,668

824,968
63,604
1,084,154
731,167
76,303
25,688

5,163
1,180,506
15,205
846,977
274,556

4,509
1,849,392
14,101
1,502,232
253,050

43,768
1,039,476
485,536
553,940
140,479
60,000

80,009
1,826,827
1,189,769
637,058
105,588
20,000

80,479
655,386
331,542
331,542

85,588
741,945
414,427
414,427

323,844

327,518

323,844

327,518

4,489,946
597,878
3,892,068
3,163,199
2,190,781
972,418
1,326,747
1,091,416
909,818
181,598
501,370
99,364
10,317
159,181
72,622
49,731
401,867
(391,195)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

42,271
12,000
17,002
0

106,471
37,000
0
0

191,722
38,000
8,501
12,751

233,947
42,000
0
12,752

3,758,706
493,844
3,264,862
2,632,255
1,639,565
992,690
1,126,451
835,914
665,664
170,250
436,127
86,841
16,220
220,702
81,241
82,886
318,982
202,147

261,982
0
13,269
278,345

443,766
0
69,471
224,231

526,286
0
145,221
263,313

642,187
0
191,947
591,682

795,865
60,000
56,576
545,536

847,533
20,000
36,828
1,209,769

0.18
0.70
3.66
2.92
1.07
80.82
2.86
6.64
25.07
19.37
1.78
5.81

0.35
1.01
4.13
2.55
1.14
76.83
2.89
12.70
49.21
30.17

0.20
1.04
3.58
2.65
1.05
73.99
2.23
17.78
62.15
39.53
18.08
6.60

0.25
1.39
6.41
2.31
1.00
75.61
2.39
15.94
52.94
40.04

0.28
2.31
7.30
2.05
1.14
70.03
1.80
12.32
37.68
30.69
1.68
4.44
14.61
5.87
0.17
4.21
19.77

0.15
2.21
5.64
1.68
1.01
70.45
2.60
7.06
22.78
19.37
1.74
2.99
16.43
3.55
-0.20
2.09
17.90

344,941

446,623

624,293

717,901

14,438

24,850

32,675

56,238

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

234

6.71

5.35

2.04
0.00
7.12
43.21

4.32
0.00
16.34
58.60

6.09
0.00
36.17
86.55

5.79
0.00
34.74
93.37

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

5,265,033

8,228,121

10,137,994

10,896,518

8,183,956
5,087,375
516,081
177,658

11,615,815
8,093,101
579,843
135,020

14,234,275
10,045,611
953,813
92,383

15,959,381
10,846,774
1,093,921
49,744

3,571,747
858,995
1,492,983
47,298
0
1,172,471
4,847,063
1,646,072
3,200,991
1,946,850

4,699,781
34,663
1,907,300
238,291
0
2,519,527
10,365,351
2,826,103
7,539,248
31,471

5,710,580
406,225
2,393,306
344,053
0
2,566,996
11,617,267
2,702,662
8,914,605
119,602

5,787,658
419,327
2,488,573
456,813
0
2,422,945
6,977,872
2,278,329
4,699,543
5,317,457

1,946,850
2,042,867
453,496
453,496
0
1,589,371

31,471
2,531,080
453,496
453,496
0
2,077,584

119,602
4,111,705
453,496
453,496
0
3,658,209

5,317,457
4,388,847
453,496
453,496
0
3,935,351

18,785,777
17,784,187
1,001,590
14,000,493

24,062,008
22,706,684
1,355,324
17,809,380

30,455,452
28,552,701
1,902,751
22,511,329

36,129,592
33,922,714
2,206,878
27,177,277

4,785,284
3,027,727

6,252,628
3,876,131

7,944,123
4,875,892

8,952,315
6,229,306

(Thousand Rupees)
2009
2010
11,741,452
914,956
18,321,954
10,700,874
1,270,046
7,106

14,599,309
3,076,472
16,756,105
11,370,611
1,213,055
16,735

118,516
6,845,528
315,770
3,895,038
241,715

135,491
8,352,923
505,516
4,602,019
126,499

2,393,005
8,083,130
756,362
7,326,768
6,076,895

3,118,889
9,806,572
2,780,843
7,025,729
7,563,787

4,210,750

5,573,750

1,866,145
4,426,955
453,496
453,496

1,990,037
5,581,873
453,496
453,496

3,973,459
249,527
3,443,932

5,128,377
249,527
4,598,850

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
3,400,040
513,081
110,980
5,696,180
1,583,331
3,401,220
154,769
5,449,017

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,630,600
382,055
679,861
0

2,005,455
110,724
226,748
0

2,549,756
315,728
453,496
0

2,227,484
791,661
1,134,865
0

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

3,989,717
0
568,684
1,646,072

2,562,551
0
1,667,983
2,826,103

4,231,307
0
1,780,532
2,702,662

9,706,304
0
300,958
2,278,329

10,503,850
0
284,157
756,362

13,145,660
0
711,629
2,780,843

0.13
1.54
1.26
2.17
0.83
75.22
2.80
13.69
52.41
31.96
1.27
14.52

0.07
1.07
0.59
2.21
0.85
71.09
3.20
23.74
94.97
41.43
1.10
10.57
38.71
10.17
0.33
66.27
97.62

0.06
1.00
0.25
2.24
0.85
73.04
3.11
27.43
113.82
48.17
1.21
11.19
52.33
11.06
0.31
90.69
123.09

3,027,727

3,876,131

4,875,892

6,229,306

180,108

447,774

584,434

557,325

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.19
0.96
0.25
2.13
0.74
74.53
3.33
22.57
88.60
46.08
1.84
12.58

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

235

0.03
1.86
0.99
1.86
0.45
74.01
4.11
18.43
87.69
61.21
8.36
12.62

0.06
1.92
1.13
1.92
0.49
73.92
2.85
17.72
76.77
75.06
4.93
12.73

8.68
0.00
27.53
45.05

8.33
0.00
41.78
55.81

8.37
0.00
49.26
90.67

6.17
0.00
31.66
96.78

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

348,730

366,817

360,727

422,206

470,863
347,697
41,536
1,033

522,330
366,237
37,707
580

554,408
360,727
39,008
0

631,157
422,206
39,238
0

172,517
33,499
44,329
25,775
0
68,914
254,130
135,131
118,999
115,600

182,361
39,890
30,202
35,790
0
76,479
281,743
140,715
141,028
134,983

192,405
14,335
44,283
39,499
0
94,288
361,533
172,314
189,219
59,920

326,041
29,292
73,428
50,952
0
172,369
465,590
152,186
313,404
90,359

115,600
151,517
79,200
7,200
72,000
72,317

134,983
132,452
79,200
7,200
72,000
53,252

59,920
131,679
79,200
7,200
72,000
52,479

90,359
192,298
115,200
43,200
72,000
77,098

956,794
956,794
0
814,121

1,160,855
1,160,855
0
1,020,175

1,168,184
1,168,184
0
1,004,370

1,657,150
1,657,150
0
1,445,799

142,673
93,969

140,680
140,706

163,814
126,763

211,351
147,353

(Thousand Rupees)
2009
2010
446,876
5,402
608,916
440,777
43,099
172

504,826
100

503,410

106

525
299,074
10,843
90,035
61,764

1,210
410,963
23,350
84,595
92,007

136,432
369,596
129,948
239,648
144,504
62,174

211,011
561,152
176,685
384,467
95,502
26,646

82,330
231,850
115,200
43,200
72,000
94,604
15,880
78,724
22,046

68,856
259,135
126,720
54,720
72,000
110,743

1,745,609
1,745,609

2,436,416
2,436,416

110,743
21,672

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

93,969

140,706

126,763

147,353

15,731

24,862

36,743

35,801

1,528,572
834,997
693,575
217,037
143,937
96,814
47,123
73,057
51,106
12,962
46,070
(2,510)
0
2,200
115,052

2,170,498
1,190,134
980,364
265,918
198,011
133,944
64,067
87,985
39,884
11,116
49,568
22,282
6,566
13,720
170,106
354,637
26,646
20,720
203,331

33,804
4,357
79,200
0

(9,666)
5,486
0
0

18,486
5,826
18,317
0

48,950
8,165
0
0

267,117
0
(49,753)
135,131

267,435
0
(15,152)
140,715

191,599
0
(5,657)
172,314

282,657
0
40,785
152,186

376,354
62,174

0.23
1.64
2.69
1.84
0.68
85.09
2.44
7.48
23.45
13.22
0.37
21.58

0.27
2.14
3.08
2.11
0.65
87.88
3.15
-1.81
-6.81
-3.62

0.15
3.15
3.38
2.11
0.53
85.98
3.20
3.35
14.00
8.05
0.69
26.38

0.17
2.16
3.07
2.21
0.70
87.25
2.89
7.52
30.22
20.64

0.20
2.93
3.54
2.34
0.81
87.57
2.22
6.17
21.72
13.98

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

192,122

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

236

38.44

22.57

19.39
4.55
2.64
0.22

3.53
0.00
40.90
210.44

-0.83
0.00
-21.04
183.96

1.58
0.00
17.58
182.89

2.95
0.00
9.44
44.51

53.67

0.21
1.64
3.78
2.66
0.73
89.09
2.53
5.97
20.19
13.56
4.16
28.80
5.46
2.03
0.26
4.99
47.36

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

67,747

79,053

184,256

184,334

152,630
67,747
4,975
0

168,626
79,053
6,422
0

279,635
184,256
6,439
0

289,517
184,334
9,837
0

142,712
5,466
54,066
14,688
2,720
65,772
187,696
58,644
129,052
8,885

169,057
8,628
65,871
22,970
0
71,588
195,947
54,616
141,331
6,341

199,214
15,533
77,431
30,237
0
76,013
231,545
45,219
186,326
5,835

507,942
39,367
97,437
273,080
0
98,058
507,524
39,790
467,734
4,711

8,885
13,878
20,419
20,419
0
(6,541)

6,341
45,822
20,419
20,419
0
25,403

5,835
146,090
20,419
20,419
0
125,671

4,711
180,041
20,419
20,419
0
159,622

1,178,643
1,178,643
0
1,143,626

1,226,484
1,226,484
0
1,171,720

1,747,515
1,747,515
0
1,670,913

2,509,214
2,509,214
0
2,385,994

35,017
24,006

54,764
36,134

76,602
47,529

123,220
67,832

(Thousand Rupees)
2009
2010
199,515
3,639
295,917
181,416
9,901

209,973
3,079
311,662
188,518
10,723

14,460
454,215
38,551
168,874
132,323

18,376
482,108
30,763
192,583
145,882

114,467
403,850

112,880
394,032

403,850
23,836

394,032
26,280

23,836
226,044
30,629
30,629

26,280
271,769
38,286
38,286

65,926
1,881
8,600
129,489

105,939
1,881
8,600
127,544

2,809,910
2,809,910

3,018,442
3,018,442

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,837,147
2,530,711
306,436
181,295
109,529
55,120
54,409
33,858
719
297
77,120
26,800
5,743
20,460
1,557

7,400
5,105
0
0

16,491
7,855
0
0

27,355
10,550
4,493
0

54,343
18,839
0
10,209

2,625,310
2,357,144
268,166
184,600
92,869
49,004
43,865
24,815
857
273
103,480
63,206
4,594
12,803
37,530

22,763
0
2,295
58,644

52,163
0
8,636
54,616

151,925
0
12,312
45,219

184,752
0
35,504
39,790

249,880
0
35,680
0

298,049
0
44,577
0

0.12
0.34
1.25
5.60
0.76
97.03
14.16
3.52
31.64
18.67

0.16
0.28
1.87
4.94
0.86
95.53
4.41
7.19
55.25
44.02

0.20
0.12
1.73
4.56
0.86
95.62
1.62
8.66
28.51
26.81
3.74
22.57

0.62
0.13
10.88
3.62
1.00
95.09
2.85
10.10
33.33
32.28

0.42
0.03
4.71
4.30
1.12
93.43
1.89
15.38
50.96
47.62
8.77
16.64
380.05
3.68
0.09
13.15
73.80

0.45
0.02
4.83
4.36
1.22
93.99
1.55
11.46
30.98
28.15
8.76
15.67
260.66
2.55
0.00
13.14
70.98

24,006

36,134

47,529

67,832

3,971

3,473

2,143

3,177

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

237

21.80

18.62

25.75

0.63
0.00
1.12
6.80

1.34
0.00
4.23
22.44

1.57
0.00
8.23
71.55

2.17
0.00
17.39
88.17

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

146,615

146,615

137,948

134,255

30,932

112,203
46,615
5,071
100,000

112,203
46,615
5,071
100,000

112,203
37,948
4,105
100,000

112,203
34,255
3,693
100,000

112,203
30,932
3,323

112,242
27,981
2,990

21,658
76
8,121
11,597
0
1,864
77,444
65,000
12,444
20,000

21,658
76
8,121
11,597
0
1,864
77,444
65,000
12,444
20,000

33,008
878
8,052
19,305
0
4,773
92,500
55,000
37,500
0

39,385
215
13,087
23,970
0
2,113
89,224
46,100
43,124
0

20,909
13
251
19,784

24,447
110
408
23,089

20,000
70,829
106,875
106,875
0
(36,046)

20,000
70,829
106,875
106,875
0
(36,046)

0
78,456
106,875
106,875
0
(28,419)

0
84,416
106,875
106,875
0
(22,459)

32,236
32,236
0
24,984

32,236
32,236
0
24,984

52,159
52,159
0
38,528

53,459
53,459
0
39,613

7,252
4,962

7,252
4,962

13,631
7,472

13,846
7,603

27,981

861
20,442

840
16,016

20,442
48,628
19,100
29,378

16,016
48,923
7,100
41,514

150
(17,229)
106,875
106,875

309
(12,511)
106,875
106,875

(124,104)

(119,386)

(130,979)

(126,261)

29,253
29,253

56,604
56,604

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

4,962

4,962

7,472

7,603

15

23,935
16,321
7,614
5,318
125,480
1,373
124,107
3,264
5

46,659
39,320
7,339
9,945
9,031
4,010
5,021
5,394
51

206,744
161
0
0

206,744
161
0
0

6,155
261
0
0

6,228
267
0
0

(101,645)

0
17,228
(197)

3,227
1,489
0
17,228
3,136

90,829
0
206,583
65,000

90,829
0
206,583
65,000

78,456
0
5,894
55,000

84,416
0
5,961
46,100

31,399
19,100
(101,645)
19,100

36,412
7,100
1,738
7,100

0.15
0.01
35.98
0.19
0.28
77.50
1.38
141.12
11,017.53
703.77

0.15
0.01
35.98
0.19
0.28
77.50
1.38
122.86
291.89
227.62

0.22
0.01
37.01
0.31
0.36
73.87
1.18
3.63
8.25
7.27

0.27
0.03
44.84
0.31
0.44
74.10
1.06
3.61
7.65
7.65

0.97
0.02
67.63
0.56
1.02
81.82
-4.01
-90.16
-302.57
-175.53

1.45
0.09
40.79
1.08
1.53
82.43
-5.19
6.19
-21.70
9.52

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

238

3.97

3.97

6.48

4.08

116.55

138.74

641.35
0.00
19.33
6.63

641.35
0.00
19.33
6.63

11.80
0.00
0.55
7.34

11.65
0.00
0.56
7.90

-347.47
0.00
-9.51
-1.61

5.70
0.05
0.16
-1.17

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,679,728

1,613,511

1,590,629

2,056,715

2,824,120
1,679,728
168,900
0

2,936,455
1,613,511
187,916
0

3,042,505
1,590,629
136,824
0

3,647,400
2,056,715
140,081
0

1,811,527
14,486
1,378,017
216,330
0
202,694
928,445
191,545
736,900
0

1,913,137
236,295
1,160,613
266,787
0
249,442
800,003
0
800,003
0

2,354,982
305,420
1,361,821
328,389
0
359,352
919,915
0
919,915
0

3,172,043
13,730
2,406,062
343,604
0
408,647
1,650,317
493,709
1,156,608
0

0
2,562,810
92,364
92,364
0
2,470,446

0
2,726,645
92,364
92,364
0
2,634,281

0
3,025,696
92,364
92,364
0
2,933,332

5,584,416
5,409,232
175,184
4,389,612

(Thousand Rupees)
2009
2010
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

3,244,274
973,017
4,027,340
2,174,145
157,026
29,392

67,720
4,015,673
39,741
3,125,746
376,923

318,455
977,860
977,860
260,321

473,263
1,954,308
634,460
1,319,848
351,754

0
3,578,441
92,364
92,364
0
3,486,077

260,321
4,007,730
92,364
92,364

351,754
4,953,885
92,364
92,364

3,915,366

4,861,521

6,360,822
6,145,466
215,356
4,789,763

7,893,402
7,389,117
504,285
5,795,230

11,250,797
10,816,972
433,825
8,509,551

1,194,804
283,225

1,571,059
342,749

2,098,172
468,126

2,741,246
496,969

13,912,769
13,394,113
518,656
10,615,033
7,744,004
2,871,029
3,297,736
549,303
131,768
417,535
661,374
31,548
24,166
2,799,989
962,052
1,062,186
73,411
232,457

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

950,174
360,064
323,275
0

1,252,394
396,598
6,927,300
0

1,681,101
551,931
831,279
0

2,299,065
815,161
923,640
0

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

2,562,810
0
266,835
191,545

2,726,645
0
(6,071,504)
0

3,025,696
0
297,891
0

3,578,441
0
560,264
493,709

4,268,051
0
465,804
0

5,305,639
0
775,751
634,460

0.25
0.15
3.87
1.60
1.95
78.60
0.36
28.74
39.28
39.28
1.83
4.05

0.63
0.32
4.19
1.80
2.39
75.30
0.29
35.69
47.35
47.35
0.12
5.48

0.69
0.15
4.16
2.00
2.56
73.42
0.30
45.00
58.45
58.45
1.36
5.80

0.22
0.32
3.05
2.15
1.92
75.64
0.46
50.12
69.62
69.62
1.61
4.68

1.01
0.43
2.76
2.18
2.53
78.69
0.31
38.41
53.04
51.28
1.56
9.80
48.45
17.60
2.29
140.43
433.91

0.21
0.23
2.71
1.92
2.05
76.30
0.47
44.78
62.49
58.49
1.73
4.45
116.86
20.13
0.10
198.99
536.34

283,225

342,749

468,126

496,969

8,264

20,405

11,807

36,123

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

17.01
0.00
63.89
277.47

19.69
0.00
92.65
295.21

21.30
0.00
122.25
327.58

20.43
0.00
160.66
387.43

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

272,140

264,560

256,601

257,871

403,822
272,140
7,630
0

133,356
264,560
8,704
0

404,269
256,601
8,011
0

413,331
257,871
7,792
0

1,219

1,219

249,859
10,315
161,811
45,223
0
32,510
184,721
99,221
85,500
13,500

383,381
1,476
205,556
88,582
0
87,767
319,863
272,473
47,390
4,500

424,967
13,565
245,033
102,885
0
63,484
417,008
252,323
164,685
0

649,193
61,427
391,035
171,476
0
25,255
629,670
455,586
174,084
0

407,539
3,180
237,981
105,829

518,446
9,441
249,048
71,443

13,500
323,778
56,584
56,584
0
267,194

4,500
323,578
56,584
56,584
0
266,994

0
264,560
56,584
56,584
0
207,976

0
277,394
56,584
56,584
0
220,810

622,474
622,474
0
610,965

911,952
911,952
0
874,740

1,026,554
1,026,554
0
959,708

1,551,861
1,551,861
0
1,464,095

11,509
11,049

37,212
13,466

66,846
15,929

87,766
27,217

345,504
23,661
485,569
320,624
9,485

347,083
31,522
486,714
314,342
8,875

60,549
296,510
213,282
83,228
103,406
20,837

188,514
399,266
323,178
76,088
100,075
20,837
0
0
0
79,238
366,188
56,584
56,584
0
166,500

82,569
353,127
56,584
56,584

150,133

150,133
146,410

166,500
143,104

973,683
973,683

1,225,235
1,225,235

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

11,049

13,466

15,929

27,217

8,548

21,987

35,942

41,479

913,542
716,613
196,929
60,141
18,609
8,923
9,686
13,668
30,586
29,411
11,337
15,981

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

(7,773)
2,831
0
0

938
4,163
0
0

15,053
4,638
0
0

19,133
7,036
0
0

(43,065)

(94,218)

337,278
0
(10,604)
99,221

328,078
0
(3,225)
272,473

264,560
0
10,415
252,323

277,394
0
12,097
455,586

456,533
20,837
(4,644)
234,119

466,263
20,837
13,060
344,015

0.30
1.37
7.27
1.19
1.35
98.15
0.61
-1.52
-2.35
-2.25

0.28
2.41
9.71
1.41
1.20
95.92
1.00
0.16
0.29
0.28

0.28
3.50
10.02
1.51
1.02
93.49
1.58
2.26
5.12
5.08

0.37
2.67
11.05
1.71
1.03
94.34
2.27
2.41
7.06
7.06

0.37
3.14
10.87
1.29
1.37
93.82
1.13
1.37
3.60
3.09

0.20
3.88
5.83
1.42
1.30
93.77
1.36
1.87
4.21
3.28

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

240

3.85

4.44

4.19

3.97

4.09
1.39
1.16
-0.11
-4,118.73
313,186.15

4.92
1.33
1.24
-0.19
11,582.83
324,769.87

-1.25
0.00
-1.87
57.22

0.10
0.00
-0.57
57.19

1.47
0.00
1.84
46.76

1.23
0.00
2.14
49.02

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

12,396

12,396

41,988
12,396
977
0

41,988
12,396
977
0

0
0
0
0

0
0
0
0

5,818
2,308
2,229
216
0
1,065
66,887
0
66,887
0

5,818
2,308
2,229
216
0
1,065
66,887
0
66,887
0

470
0
0
0
0
470
940
0
940
30,847

0
0
0
0
0
0
31,575
0
31,575
0

0
(48,673)
23,228
23,228
0
(71,901)

0
(48,673)
23,228
23,228
0
(71,901)

30,847
(31,317)
30,000
30,000
0
(61,317)

0
(31,575)
30,000
30,000
0
(61,575)

5,986
5,986
0
1,911

5,986
5,986
0
1,911

0
0
0
0

0
0
0
0

4,075
9,489

4,075
9,489

0
201

0
258

(Thousand Rupees)
2009
2010
0
0
0
0
0
0
0
0
0
0
0
0
0
0
850
0
850
30,847
0
30,847
0
0
0
(31,697)
30,000
30,000
0
(61,697)
0
(61,697)
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
943
0
943
30,847
0
30,847
0
0
0
(31,790)
30,000
30,000
0
(61,790)
0
(61,790)
0
0
0
0
0
0
0
0
93
0
93
0
0
0
(93)
0
0
0
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(4,844)
26
0
0

(4,844)
26
0
0

(201)
0
0
0

(258)
0
0
0

0
0
0
0
0
0
0
122
0
122
0
0
0
(122)
0
0
0
0

(48,673)
0
(4,870)
0

(48,673)
0
(4,870)
0

(470)
0
(201)
0

(31,575)
0
(258)
0

(850)
0
(122)
0

(943)
0
(93)
0

0.04
0.28
3.61
0.33
0.09
31.92
-1.37
-26.59
9.95
9.95

0.04
0.28
3.61
0.33
0.09
31.92
-1.37
-26.59
9.95
9.95

0.00

0.00

0.00

0.00

0.00
0.50

0.00

0.00

0.00

-1.02
-2.15
0.50
0.82

-1.00
-109.79
0.82
1.61

-1.00

-1.00

0.39
0.75

0.29
10.37

0.00
-0.07
-10.44

0.00
-0.09
-10.53

0.00
-0.04
-10.57

0.00
-0.03
-10.60

9,489

9,489

201

258

17

17

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

241

2.69

2.69

-80.92
0.00
-2.10
-20.95

-80.92
0.00
-2.10
-20.95

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

158,614

232,678

256,787

292,922

357,407
158,614
24,074
0

407,700
232,678
25,619
0

451,226
256,787
33,787
0

515,372
292,922
36,219
0

614,191
112,459
400,612
48,467
10,750
41,903
268,833
29,377
239,456
25,328

769,204
76,694
582,412
42,565
11,050
56,483
406,713
77,206
329,507
43,762

863,560
108,186
610,903
59,749
0
84,722
467,888
39,066
428,822
27,047

1,015,133
84,042
689,438
74,892
9,915
156,846
566,926
23,388
543,538
4,429

25,328
478,644
50,000
50,000
0
428,644

43,762
551,407
50,000
50,000
0
501,407

27,047
625,412
50,000
50,000
0
575,412

4,429
736,700
60,000
60,000
0
676,700

1,670,791
1,635,226
35,565
1,213,824

2,182,570
2,138,331
44,239
1,622,131

2,634,365
2,574,276
60,089
1,949,316

3,020,443
2,961,277
59,166
2,243,314

456,967
289,221

560,439
383,675

685,049
427,694

777,129
519,746

(Thousand Rupees)
2009
2010
310,979
4,105
551,529
295,665
39,271

427,495
7,050
705,220
409,752
44,875

11,209
1,043,406
70,844
755,711
86,291

10,693
1,191,958
99,509
842,482
135,317

130,560
530,881
30,228
500,653
45,684

114,650
680,194
92,526
587,668
91,121

45,684
777,820
60,000
60,000

91,121
848,138
60,000
60,000

717,820

788,138

134,371

135,116

3,528,134
3,311,217
216,917
2,591,790
786,566
1,805,224
936,344
772,607
580,492
192,115
265,280
17,950
10,372
165,219
58,474
36,000
57,625
170,645

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

175,371
70,000
37,500
0

186,430
55,000
55,000
0

257,655
110,000
50,000
10,000

268,399
90,000
60,000
0

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

503,972
0
67,871
29,377

595,169
0
76,430
77,206

652,459
0
97,655
39,066

741,129
0
118,399
23,388

823,504
0
66,471
30,228

939,259
0
70,745
92,526

0.64
0.25
2.90
2.16
2.28
72.65
0.61
24.48
40.88
38.65
2.81
4.17

0.32
0.41
1.95
2.18
1.89
74.32
0.82
21.01
36.20
33.92
2.39
3.75

0.36
0.49
2.27
2.35
1.85
74.00
0.79
24.28
43.79
41.30
2.95
4.31

0.30
0.27
2.48
2.31
1.79
74.27
0.78
22.10
39.41
38.52
2.97
4.38

0.30
0.24
3.16
2.01
1.97
72.36
0.74
12.06
21.20
20.52
2.85
3.61
64.19
5.88
0.20
17.08
129.64

0.35
0.51
3.84
2.18
1.75
73.46
0.91
11.11
20.32
18.75
2.97
4.19
16.93
4.68
0.22
17.79
141.36

289,221

383,675

427,694

519,746

4,112

8,942

12,940

8,104

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

242

10.50
0.00
21.07
95.73

8.54
0.00
26.29
110.28

9.78
0.00
29.53
125.08

8.89
0.00
29.73
122.78

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

284,212

283,455

377,495

488,852

500,689
103,067
26,725
181,145

508,699
102,310
21,714
181,145

614,758
196,350
21,425
181,145

731,115
307,707
29,633
181,145

458,006
126,852
148,456
71,568
0
111,130
202,048
26,018
176,030
0

602,997
172,096
279,859
64,279
0
86,763
326,988
0
326,988
0

569,053
16,151
378,002
88,101
0
86,799
747,566
362,367
385,199
0

526,761
8,022
352,394
49,976
0
116,369
714,390
242,591
471,799
0

0
540,170
61,576
61,576
0
478,594

0
559,464
61,576
61,576
0
497,888

0
198,982
61,576
61,576
0
137,406

0
301,223
61,576
61,576
0
239,647

1,824,334
1,824,334
0
1,298,678

2,373,176
2,373,176
0
1,641,925

2,916,978
2,916,978
0
2,028,643

3,748,416
3,748,416
0
2,591,303

525,656
370,719

731,251
467,757

888,335
553,293

1,157,113
625,505

(Thousand Rupees)
2009
2010
374,153
200
737,570
288,672
38,791
81,637
355
3,289
600,683
40,696
333,840
79,649
0
146,498
680,683
148,775
531,908
25,497
0
0
0
0
25,497
268,656
61,576
61,576
0
207,080
25,258
181,822
0

384,648
3,575
780,556
297,151
39,186
81,637
128
2,157
704,825
80,436
358,094
96,606
0
169,689
646,896
170,204
476,692
38,182
0
0
0
0
38,182
404,395
61,576
61,576
0
342,819
25,258
317,561
0
4,040,887
4,040,887
0
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
0
48,941
368,273

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

160,906
49,800
67,734
0

290,116
76,300
215,516
0

346,074
118,925
572,657
0

530,311
152,750
221,674
0

3,376,511
3,376,511
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
48,941
351,377

540,170
0
43,372
26,018

559,464
0
(1,700)
0

198,982
0
(345,508)
362,367

301,223
0
155,887
242,591

294,153
0
176,792
148,775

442,577
0
437,463
170,204

0.98
0.33
3.92
2.46
2.27
71.19
0.37
21.78
30.76
30.76
1.64
12.29

0.72
0.18
2.71
2.68
1.84
69.19
0.58
35.63
52.77
52.77
0.99
8.48

0.14
0.30
3.02
3.08
0.76
69.55
3.76
37.76
91.26
91.26
0.40
7.72

0.08
0.59
1.33
3.69
0.74
69.13
2.37
54.05
212.04
212.04
1.70
10.64

0.18
0.67
2.36
3.46
0.88
62.85
2.63
24.28
84.81
81.18

0.27
0.31
2.39
3.71
1.09
62.02
1.69
62.57
191.92
175.33

370,719

467,757

553,293

625,505

6,111

4,345

8,710

22,233

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

243

8.82
0.00
18.04
87.72

12.22
0.00
34.72
90.86

11.86
0.00
36.89
32.31

14.15
0.00
61.32
48.92

10.11
12.59
7.16
0.50
28.71
43.63

11.28
71.46
15.98
0.54
71.04
65.67

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,783,083

2,154,393

3,525,672

4,435,581

3,768,584
1,761,170
260,540
21,913

4,078,081
2,137,350
287,039
17,043

5,873,999
3,513,499
372,971
12,173

6,964,584
4,428,278
453,671
7,303

4,023,584
427,188
1,804,768
105,367
95,202
1,591,059
3,759,571
66,946
3,692,625
20,074

4,275,453
585,860
2,156,472
174,722
95,202
1,263,197
4,589,558
200
4,589,358
0

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

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

20,074
2,027,022
664,694
664,694
0
1,362,328

0
1,840,288
664,694
664,694
0
1,175,594

52,932
1,989,305
664,694
664,694
0
1,324,611

77,327
2,229,371
669,477
664,694
4,783
1,559,894

22,473,238
22,473,238
0
15,619,484

26,536,773
26,536,773
0
18,658,571

29,854,807
29,854,807
0
20,771,722

39,057,172
39,057,172
0
28,121,492

6,853,754
4,482,857

7,878,202
5,519,695

9,083,085
6,635,476

10,935,680
7,785,376

(Thousand Rupees)
2009
2010
5,773,442
173,571
7,420,413
4,563,048
496,867
357,556
200
679,067
5,698,648
278,644
3,649,070
506,357

5,979,141
308,981
7,918,431
4,588,190
553,006
821,086
200
260,684
7,574,893
1,762,650
3,881,007
522,795

1,264,577
7,107,469
1,037,911
6,069,558
1,019,952

1,408,441
8,975,421
297,143
8,678,278
954,763

327,060
692,892
3,344,671
669,477
669,477

358,802
595,961
3,623,850
669,477
669,477

2,662,229

2,942,056

12,965

12,317

38,187,582
38,187,582

44,671,507
44,671,507

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

30,094,225
25,633,234
4,460,991
14,577,282
9,731,597
8,033,561
1,698,036
2,061,532
189,583
132,631
4,796,725
1,512,820
329,383
392,348
6,172,170
4,578,613
0
2,954,522
297,143

2,491,791
559,485
797,632
0

2,434,046
860,016
1,622,000
0

2,544,617
727,918
1,646,913
0

2,937,217
863,347
1,635,147
0

24,852,625
20,593,398
4,259,227
13,334,957
8,583,957
7,179,694
1,404,263
1,872,013
427,708
229,009
4,515,605
1,459,865
306,620
392,348
5,212,666

2,047,096
0
1,134,674
66,946

1,840,288
0
(47,970)
200

2,042,237
0
169,786
440,830

2,306,698
0
438,723
3,264,845

4,364,623
0
2,749,120
1,037,911

0.19
0.24
0.66
4.13
0.93
70.31
2.49
39.78
125.88
125.23
0.97
12.31

0.09
0.37
0.80
3.69
0.75
69.58
3.06
35.06
132.89
131.08
1.10
10.95

0.05
1.19
0.59
3.43
0.77
72.00
4.11
30.17
139.25
135.08
1.27
9.16

4,482,857

5,519,695

6,635,476

7,785,376

76,524

63,946

109,227

466,166

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.17
0.34
0.47
3.87
1.07
69.50
1.86
42.60
114.40
113.46
2.42
12.45

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

244

11.09
0.00
145.35
152.48

9.17
0.00
23.68
27.69

8.52
0.00
136.66
149.64

7.52
0.00
156.00
167.70

0.11
1.12
1.33
3.33
0.80
65.08
2.43
39.51
162.02
135.37
9.97
10.47
20.72
11.82
0.64
45.64
49.96

0.25
0.42
1.17
3.30
0.84
67.37
2.74
38.33
137.67
107.27
9.97
11.51
37.17
10.74
0.62
49.05
54.13

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

104,654

103,390

141,901

136,324

182,668

136,860
104,654
5,346
0

141,100
103,390
5,578
0

170,611
141,901
5,039
0

168,154
136,324
4,498
0

166,059
132,298
4,254

177,168
152,388
3,967

259,725
7,304
79,591
44,603
50,000
78,227
241,633
176,282
65,351
52,925

212,826
14,238
43,287
41,367
50,000
63,934
230,662
150,451
80,211
39,677

232,400
12,867
104,905
37,236
50,000
27,392
354,826
175,161
179,665
17,940

299,898
10,451
176,295
33,093
50,000
30,059
475,790
122,315
353,475
0

50,000
370
256,141
65,832
131,463
11,167

135,399
1,342
348,652
89,601
144,642
83,754

52,925
69,821
76,057
76,057
0
(6,236)

39,677
45,877
76,057
76,057
0
(30,180)

17,940
1,535
79,860
79,860
0
(78,325)

0
(39,568)
79,860
79,860
0
(119,428)

1,028,005
1,028,005
0
893,572

1,150,464
1,150,464
0
976,044

885,114
885,114
0
796,141

922,010
922,010
0
818,217

134,433
139,545

174,420
176,558

88,973
143,377

103,793
87,926

289,129

47,679
190,254
101,382
88,872
344,027

30,655
408,513
79,913
328,600
380,638

9,027
(95,472)
79,860
79,860

380,638
(151,370)
79,860
79,860

335,000

(293,579)
10,646
(304,225)
118,247

(450,826)
10,646
(461,472)
219,596

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

897,774
897,774

1,848,347
1,848,347

1,718,465
1,523,160
195,305
129,882
128,269
106,186
22,083
44,526
66,815

(20,901)
11,701
0
0

(25,027)
10,396
0
0

(62,764)
4,504
3,993
0

(37,610)
4,698
0
0

841,249
658,978
182,271
56,525
109,987
68,629
41,358
50,393
44,668
926
(57,021)
1,117
0
11,778
(124,430)

122,746
0
(32,602)
176,282

85,554
0
(35,423)
150,451

19,475
0
(71,261)
175,161

(39,568)
0
(42,308)
122,315

248,555
0
(58,138)
101,382

229,268
0
(69,205)
79,913

0.42
1.82
4.34
2.82
1.07
86.92
4.22
-6.95
-47.17
-19.59

0.46
2.15
3.60
3.64
0.92
84.84
5.89
-7.35
-43.26
-24.03

0.28
3.70
4.21
2.36
0.65
89.95
242.84
-18.18
-264.76
-119.52
-16.85
8.44

0.20
6.12
3.59
2.11
0.63
88.74
-12.02
-9.28
197.78
374.36

0.40
4.98
1.24
2.05
1.35
93.70
-5.60
-13.03
84.45
-54.57

0.42
3.61
4.53
2.90
0.85
92.97
-5.21
-11.34
49.47
-25.56

139,545

176,558

143,377

87,926

18,694

24,699

32,753

56,397

(61,062)
8,143
0
11,778
54,787

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

245

12.92

26.58

5.23

6.83
-60.58
-6.35
-0.23
-7.28
-11.95

12.78

-2.03
0.00
-4.29
9.18

-2.18
0.00
-4.66
6.03

-7.09
0.00
-8.42
0.19

-4.08
0.00
-5.30
-4.95

-3.30
0.07
-8.67
-18.95

CHEMICALS, CHEMICAL PRODUCTS & PHARMA

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

66,449,716

71,819,647

82,883,488

107,679,493

120,259,970
64,347,547
5,671,686
2,102,169

119,291,767
69,915,245
5,836,364
1,904,402

148,975,273
80,841,721
6,129,803
2,041,767

177,716,269
105,619,375
6,776,939
2,060,118

84,825,304
18,196,050
17,755,437
6,805,680
26,751,133
15,317,004
64,131,528
19,361,534
44,769,994
11,089,356

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

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

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

721,919

1,408,633

13,069,395

12,879,902

10,367,437
76,054,136
38,620,473
38,620,473
0
37,433,663

7,811,839
83,290,627
39,943,911
39,943,911
0
43,346,716

21,087,642
101,698,431
40,704,617
40,704,617
0
60,993,814

27,418,454
110,335,581
42,072,022
42,072,022
0
68,263,559

182,186,364
175,604,508
6,581,856
137,259,125

198,891,224
194,257,175
4,634,049
151,305,404

217,797,896
216,179,445
1,618,451
163,839,624

255,485,929
252,752,148
2,733,781
176,669,468

44,927,239
17,700,941

47,585,820
20,371,641

53,958,272
22,725,914

78,816,461
26,727,743

(Thousand Rupees)
2009
2010
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
87,521,988
21,704,237
65,817,751
4,913,520

302,354,975
76,759,238
242,917,803
153,791,756
10,808,593
5,680,457
61,678,945
4,444,579
151,199,259
48,660,252
32,014,359
17,844,597
20,277,065
32,402,985
142,436,722
54,660,987
87,775,735
115,285,267
64,919,024
17,379,970
8,186,010
1,662,916
23,137,347
195,832,247
86,636,108
82,636,108
4,000,000
97,460,963
24,021,910
73,439,053
11,735,175
349,897,544
340,851,699
9,045,845
256,385,829
171,094,097
85,291,731
93,511,716
37,225,996
17,418,920
19,807,076
27,559,199
11,188,020
10,345,143
55,741,648
20,021,268
25,784,074
6,433,900
52,647,934
311,117,514
73,105,033
9,936,306
127,766,021

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

31,327,327
6,391,658
11,163,064
539,809

30,159,021
6,403,968
12,223,720
632,716

40,925,058
6,992,715
12,206,516
601,374

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

87,143,492
721,919
13,772,605
20,083,453

92,511,099
1,408,633
11,531,333
30,377,412

135,855,468
13,069,395
21,725,827
33,911,921

150,633,937
12,879,902
24,565,731
43,748,405

340,816,182
130,104,362
9,216,894
169,687,678

0.81
1.73
3.74
1.20
1.32
75.34
0.99
21.11
42.70
37.19
2.23
10.26

0.73
2.36
4.16
1.18
1.27
76.07
1.02
18.86
37.85
33.57
1.94
10.83

1.13
2.70
6.18
1.02
1.68
75.23
1.10
21.44
44.25
35.84
2.78
10.89

0.76
4.59
3.98
1.00
1.41
69.15
1.31
21.49
47.40
35.08
2.63
8.98

17,700,941

20,371,641

22,725,914

26,727,743

3,159,438

4,693,235

5,890,924

11,733,264

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

248

17.20
0.00
6.32
19.27

15.16
0.00
5.97
20.92

18.79
0.00
8.14
24.40

19.67
0.00
9.13
25.39

0.73
3.95
5.14
0.73
1.25
73.93
1.72
12.48
31.87
17.93
1.46
11.75
4.74
13.40
0.26
3.99
22.54

0.61
3.20
5.10
0.77
1.06
73.27
1.32
12.31
30.80
17.10
1.39
10.93
6.39
15.93
0.20
4.32
23.70

Growth with Composition of Assets & Liabilites

350

40%
30%
28.4%
17.9% 20%
10%
0%
-10%
-20%
-30%
-34.0%
-40%
Current
Non-Current
Shareholders
Liabilities
Laibilities
Equity
2010
Growth

300

Billion Rs

250
9.3%

200

-3.5%

150
100
50

0
Non-Current
Assets

Current Assets

2009

Growth & Composition of Operations

2009

400

2010

Growth

30%

26.5%

350

25%

Billion Rs

300

20%

250
200

15%

150

10%

9.1%

100

6.4%

5%

50
0

0%
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
35

16

2010

25

2009

13.4

14

2010

12

20
12.48 12.31

17.93 17.1

10
5

Percentage

Percentage

15.93

2009

31.87 30.8

30

15

Net Profit Before Tax

10
8

6
4

Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

3.99
1.251.06 1.72

4.32

1.32

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,187,749

1,437,023

1,516,821

1,560,835

2,380,518
1,187,749
148,787
0

2,761,341
1,437,023
159,718
0

3,001,118
1,516,821
185,830
0

3,223,208
1,560,835
203,002
0

2,941,306
1,160,775
1,217,900
147,297
0
415,334
652,039
0
652,039
0

3,598,402
1,608,841
1,256,141
208,742
0
524,678
793,539
0
793,539
0

3,164,547
496,118
1,363,508
128,817
0
1,176,104
992,095
0
992,095
0

3,455,054
1,051,489
1,696,200
139,004
0
568,361
1,447,377
0
1,447,377
0

0
3,477,016
679,863
679,863
0
2,797,153

0
4,241,886
979,003
979,003
0
3,262,883

0
3,689,273
979,003
979,003
0
2,710,270

0
3,568,512
979,003
979,003
0
2,589,509

5,346,497
5,206,356
140,141
3,050,378

6,103,803
5,939,774
164,029
3,625,175

6,838,601
6,665,534
173,067
4,104,715

7,377,635
7,219,468
158,167
5,279,982

2,296,119
976,102

2,478,628
1,143,720

2,733,886
1,135,050

2,097,653
1,655,672

(Thousand Rupees)
2009
2010
1,705,391
159,886
330,252
1,502,899
206,300
0
0
42,606
3,259,185
770,784
1,675,000
234,185
0
579,216
1,606,489
0
1,606,489
119,627
0
0
0
0
119,627
3,238,460
979,003
979,003
0
2,259,457
173,853
2,085,604
0

1,933,748
392,954
3,469,184
1,484,642
256,102
0
0
56,152
3,856,673
819,087
2,069,633
263,267
0
704,686
1,762,700
0
1,762,700
115,182
0
0
0
0
115,182
3,912,539
979,003
979,003
0
2,933,536
197,167
2,736,369
0
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
0
1,741,257
535,904
489,502
0
917,503

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,366,179
426,789
339,930
113,311

1,439,970
417,523
293,701
195,801

1,769,028
464,586
1,762,205
0

544,822
204,135
489,502
0

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
875,978
241,173
1,174,804
0
1,074,757

3,477,016
0
599,460
0

4,241,886
0
728,746
0

3,689,273
0
(457,763)
0

3,568,512
0
(148,815)
0

3,358,087
0
(539,999)
0

4,027,721
0
715,852
0

2.01
0.05
2.76
1.29
4.51
57.05
0.19
36.44
43.20
43.20
2.76
4.39

2.29
0.06
3.42
1.21
4.53
59.39
0.19
31.43
37.31
37.31
3.48
4.86

0.63
0.05
1.88
1.46
3.19
60.02
0.27
36.41
44.61
44.61
0.74
5.02

0.82
0.04
1.88
1.47
2.39
71.57
0.41
11.24
15.01
15.01
0.70
4.35

0.63
0.03
2.77
1.70
2.03
72.53
0.53
17.55
25.74
25.29
0.54
5.04

0.61
0.03
2.39
1.90
2.19
66.47
0.48
32.38
48.70
47.15
2.46
5.31

976,102

1,143,720

1,135,050

1,655,672

2,902

3,660

3,202

2,704

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

250

25.55
0.00
13.82
51.14

23.59
0.00
10.44
43.33

25.87
0.00
13.32
37.68

7.38
0.00
3.48
36.45

10.37
0.62
6.48
33.08

15.84
0.49
12.31
39.96

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

21,262,287
4,287,584
20,444,723
14,361,612
411,320
2,567,311
0
45,780
5,873,762
293,485
2,289,563
780,726
0
2,509,988
4,346,627
2,010,103
2,336,523
15,031,991
2,027,835
31,135
10,137,858
0
2,835,163
7,757,432
3,924,300
3,924,300
0
3,833,132
0
3,833,132
0

36,495,016
8,088,034
32,358,809
25,790,552
499,328
2,567,311
0
49,119
4,448,628
86,497
413,608
311,346
0
3,637,177
12,550,003
7,601,031
4,948,972
15,458,184
2,820,645
31,135
8,186,010
0
4,420,395
12,935,457
3,924,300
3,924,300
0
4,747,566
0
4,747,566
4,263,592

12,997,800
12,997,800
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
(560,155)

12,854,551
12,854,551
0
9,696,606
1,584,539
8,112,067
3,157,945
642,393
383,343
259,050
641,940
2,429,031
2,284,625
267,959
64,273
0
0
4,956,598

22,789,423
12,165,693
1,908,122
14,175,797

28,393,642
11,006,654
203,686
18,607,686

0.25
20.76
6.01
0.48
1.35
62.97
2.50
7.03
24.60
8.37

0.03
18.90
2.42
0.31
0.35
75.43
2.17
0.79
2.59
1.05

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

251

5.68
1.72
14.68
-0.03
4.86
19.77

31.08
1.12
2.08
0.18
0.52
32.96

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,275,466

1,175,894

861,190

1,128,372

2,447,706
1,275,376
138,780
90

2,474,131
1,175,894
187,887
0

1,997,891
861,190
139,319
0

2,405,066
1,128,372
148,817
0

689,378
257,206
68,408
119,047
0
244,717
828,592
71,442
757,150
30,000

792,128
298,255
142,132
169,895
0
181,846
755,598
15,000
740,598
0

1,417,822
546,915
156,364
128,531
0
586,012
852,880
0
852,880
0

1,183,928
334,478
246,276
157,555
0
445,619
804,873
0
804,873
0

30,000
1,106,252
250,387
250,387
0
855,865

0
1,212,424
250,387
250,387
0
962,037

0
1,426,132
250,387
250,387
0
1,175,745

0
1,507,427
250,387
250,387
0
1,257,040

1,987,435
1,987,435
0
1,252,052

2,647,017
2,647,017
0
1,698,579

2,436,068
2,436,068
0
1,502,186

2,729,628
2,729,628
0
1,893,981

735,383
270,225

948,438
414,101

933,882
323,917

835,647
343,723

(Thousand Rupees)
2009
2010
1,276,004
43,726
2,411,007
1,020,722
171,647
0
199,715
11,841
1,039,945
500,310
166,801
153,030
72,335
147,469
545,644
0
545,644
317,599
0
0
0
6,079
311,520
1,452,706
250,387
250,387
0
1,202,319
0
1,202,319
0

1,342,471
185,445
2,619,567
1,063,832
177,492
0
81,288
11,906
1,044,764
478,064
184,455
168,854
65,022
148,369
578,329
0
578,329
317,776
0
0
0
6,334
311,442
1,491,130
250,387
250,387
0
1,240,743
0
1,240,743
0
2,530,022
2,530,022
0
1,843,248
263,283
1,579,965
686,774
432,764
195,134
237,630
366,873
2,198
117
375,026
131,037
150,232
0
432,072
1,808,906
0
93,757
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

502,159
143,173
300,464
0

571,041
231,321
375,580
0

685,866
237,587
325,503
0

547,693
204,537
250,387
0

2,307,741
2,307,741
0
1,596,752
249,313
1,347,439
710,989
500,324
152,785
347,539
331,111
2,125
83
374,284
153,298
225,348
0
552,892

1,136,252
0
58,522
71,442

1,212,424
0
(35,860)
15,000

1,426,132
0
122,776
0

1,507,427
0
92,769
0

1,770,305
0
(4,362)
0

0.62
0.48
6.42
1.35
1.05
64.17
0.62
29.04
49.26
48.63
0.90
18.62

0.79
0.00
5.28
1.07
1.66
61.66
0.60
32.30
51.99
51.99
1.38
15.58

270,225

414,101

323,917

343,723

16,126

12,661

2,702

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.45
0.81
5.99
1.01
0.83
63.00
0.78
25.74
46.66
46.02
1.19
29.05

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

252

0.61
0.10
5.77
1.18
1.47
69.39
0.53
23.86
37.34
37.34
1.37
11.08

25.27
0.00
14.34
44.18

21.57
0.00
13.57
48.42

28.15
0.00
17.90
56.96

20.06
0.00
13.71
60.20

1.33
0.09
6.63
1.00
1.91
69.19
0.59
16.17
25.29
22.84
0.98
13.84
4,510.45
16.22
0.64
8.83
58.02

1.23
0.09
6.67
1.06
1.81
72.86
0.60
15.95
25.48
20.96
1.62
13.72
3,206.35
14.82
0.48
9.74
59.55

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

144,768

172,422

183,837

186,609

0
144,768
0
0

248,621
172,422
3,851
0

262,397
183,837
3,421
0

268,185
186,609
3,029
0

15,573
1,265
1,800
0
187
12,321
70,521
41,212
29,309
49,100

16,069
568
868
7,896
0
6,737
94,777
64,837
29,940
45,083

13,766
914
922
7,309
0
4,621
91,398
16,175
75,223
69,763

17,683
1,602
1,098
8,116
0
6,867
131,157
63,033
68,124
41,598

49,100
40,720
28,657
28,657
0
12,063

45,083
48,631
48,718
48,718
0
(87)

69,763
36,442
48,718
48,718
0
(12,276)

41,598
31,537
68,205
68,205
0
(36,668)

62,778
62,778
0
62,061

61,796
61,796
0
64,548

77,180
77,180
0
71,859

81,217
81,217
0
73,952

717
13,686

(2,752)
14,091

5,321
14,946

7,265
15,724

(Thousand Rupees)
2009
2010
186,150
0
268,055
182,695
4,002
0
0
3,454
18,879
658
1,500
9,533
0
7,187
133,412
79,902
53,509
49,453
13,137
11,500
0
0
24,816
22,164
68,205
68,205
0
(46,041)
0
(46,041)
0

221,382
0
295,694
208,774
7,172
0
0
12,608
27,107
192
3,258
12,996
0
10,660
77,517
41,518
35,999
74,645
35,408
8,593
0
0
30,644
96,328
68,205
68,205
0
7,231
0
7,231
20,892
209,508
209,508
0
157,001
74,559
82,442
52,507
25,808
5,656
20,152
25,838
(12,154)
11,337
39,149
1,051
3,410
0
19,580

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(12,955)
285
0
0

(11,885)
275
0
0

(11,845)
355
0
0

(24,062)
348
0
0

99,445
99,445
0
75,171
13,908
61,264
24,273
16,115
4,485
11,631
15,611
17,856
17,080
(9,372)
1
0
0
7,811

89,820
0
(13,240)
41,212

93,714
0
(12,160)
64,837

106,205
0
(12,200)
16,175

73,135
0
(24,410)
63,033

71,617
13,137
(9,373)
93,039

170,972
35,408
34,688
76,926

0.02
1.75
0.00
0.39
0.22
98.86
2.94
-8.88
-27.37
-13.58

0.09
3.44
12.78
0.33
0.17
104.45
2.88
-6.81
-26.60
-12.95

0.09
4.73
9.47
0.39
0.15
93.11
4.42
-6.14
-27.85
-11.85

0.07
19.90
9.99
0.40
0.13
91.05
5.48
-11.97
-70.79
-26.83

0.08
17.96
9.59
0.49
0.14
75.59
8.25
-4.58
-34.91
-12.95

0.17
-5.80
6.20
0.84
0.35
74.94
1.58
17.26
66.08
32.28
11.17
64.30
4.45
18.69
0.13
5.59
14.12

13,686

14,091

14,946

15,724

1,100

2,126

3,647

16,166

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

253

34.88

71.19

83.71

73.97

66.28
0.45
-9.42
0.04
-1.37
3.25

-20.64
0.00
-4.62
14.21

-19.23
0.00
-2.50
9.98

-15.35
0.00
-2.50
7.48

-29.63
0.00
-3.58
4.62

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

426,852

560,800

625,723

666,797

507,706
426,852
20,727
0

665,862
560,800
26,470
0

752,384
625,723
29,693
0

698,857
614,447
38,718
52,350

954,178
96,656
430,929
352,851
17,947
55,795
886,740
408,554
478,186
0

1,194,276
144,483
454,436
479,390
17,947
98,020
1,207,119
598,647
608,472
0

1,474,346
143,167
570,944
599,782
13,849
146,604
1,541,339
783,194
758,145
0

2,249,445
192,281
873,297
569,402
13,849
600,616
2,349,519
1,316,511
1,033,008
116,666

0
494,290
46,251
46,251
0
448,039

0
547,957
57,813
57,813
0
490,144

0
558,730
69,376
69,376
0
489,354

116,666
450,057
81,864
81,864
0
368,193

2,242,775
2,194,147
48,628
1,726,471

2,999,718
2,933,593
66,125
2,240,113

3,620,512
3,535,963
84,549
2,839,214

3,988,363
3,901,646
86,717
3,345,206

516,304
439,540

759,605
586,546

781,298
608,412

643,157
762,136

(Thousand Rupees)
2009
2010
1,211,420
0
1,143,094
1,055,344
50,183
40,750
4,179
111,147
2,047,777
179,159
1,011,893
585,602
0
271,123
2,467,755
1,514,263
953,492
50,000
50,000
0
0
0
0
741,442
81,864
81,864
0
132,928
70,494
62,434
526,650

889,911
0
790,496
717,747
62,898
40,750
3,510
127,904
2,131,651
290,605
966,347
602,762
0
271,937
2,319,667
1,305,665
1,014,002
4,023
4,023
0
0
0
0
697,872
181,864
181,864
0
305,665
72,308
233,357
210,343
3,387,941
3,260,849
127,092
2,585,576
2,291,253
294,323
802,365
791,690
605,713
185,977
222,200
252,898
239,791
(120,003)
18,409
0
0
50,779

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

95,399
31,000
33,917
15,417

156,342
52,800
40,469
11,563

120,463
28,535
17,344
0

(231,379)
20,231
0
0

3,624,268
3,529,810
94,458
2,765,702
2,626,526
139,176
858,566
824,144
606,045
218,099
228,965
254,009
248,138
38,036
5,430
0
0
(18,518)

494,290
0
30,482
408,554

547,957
0
63,073
598,647

558,730
0
74,584
783,194

566,723
0
(251,610)
1,316,511

791,442
50,000
32,606
1,564,263

701,895
4,023
(138,412)
1,309,688

0.53
0.93
15.73
1.62
1.08
76.98
1.79
8.32
20.29
20.29
1.90
5.20

0.53
1.89
15.98
1.71
0.99
74.68
2.20
9.97
30.00
30.00
2.56
6.60

0.49
2.49
16.57
1.72
0.96
78.42
2.76
6.25
21.77
21.77
5.30
6.34

0.33
3.48
14.28
1.37
0.96
83.87
5.48
-9.23
-45.87
-41.12

0.31
7.01
16.16
1.11
0.83
76.31
3.40
1.23
6.38
5.60

0.39
7.46
17.79
1.12
0.92
76.32
3.33
-3.82
-16.68
-16.07

439,540

586,546

608,412

762,136

20,793

56,629

90,248

138,612

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

254

4.57

3.58
1.15
1.05
-0.01
3.98
90.57

3.51
0.50
-3.54
0.02
-7.61
38.37

4.25
0.00
13.92
106.87

5.21
0.00
17.91
94.78

3.33
0.00
13.25
80.54

-5.80
0.00
-30.74
54.98

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

301,640

281,216

301,552

282,359

306,951
301,640
13,260
0

310,560
281,216
25,020
0

355,482
301,552
25,536
0

357,428
282,359
21,138
0

77,717
5,186
21,877
36,103
0
14,551
80,028
16,989
63,039
74,316

102,796
7,733
30,869
0
0
64,194
69,601
14,675
54,926
19,022

163,105
28,695
44,061
57,451
0
32,898
89,722
15,002
74,720
6,251

204,947
35,920
59,807
64,736
0
44,484
90,203
3,532
86,671
2,810

74,316
225,013
200,000
200,000
0
25,013

19,022
295,389
200,000
200,000
0
95,389

6,251
368,684
200,000
200,000
0
168,684

2,810
394,293
200,000
200,000
0
194,293

282,561
282,561
0
221,647

400,142
400,142
0
302,294

529,969
529,969
0
389,043

560,821
560,821
0
420,544

60,914
18,944

97,848
22,118

140,926
33,028

140,277
31,250

(Thousand Rupees)
2009
2010
276,279
0
370,481
275,756
19,982
0
0
523
247,064
70,014
70,147
61,008
0
45,895
48,586
2,837
45,749
36,002
0
0
0
795
35,207
438,755
200,000
200,000
0
180,261
0
180,261
58,494

894,123
0
1,477,625
886,668
86,286
0
2,342
5,113
915,113
36,145
495,154
309,278
0
74,536
855,253
725,684
129,569
302,610
210,191
0
0
0
92,419
651,374
69,000
69,000
0
410,401
3,600
406,801
171,973
2,197,385
1,614,649
582,736
1,959,895
1,906,905
52,990
237,490
74,556
30,321
44,235

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

31,676
1,400
8,000
0

66,921
0
0
0

104,994
0
50,000
0

105,844
5,688
20,000
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
120,058

299,329
0
22,276
16,989

314,411
0
66,921
14,675

374,935
0
54,994
15,002

397,103
0
80,156
3,532

474,757
0
32,523
2,837

953,984
210,191
51,639
935,875

0.52
3.64
12.78
0.74
0.97
78.44
0.69
8.61
16.14
11.55
3.78
12.92

0.11
2.28
0.00
1.04
1.48
75.55
0.30
17.53
25.72
21.81

0.96
0.73
10.84
1.14
1.82
73.41
0.26
24.74
31.62
30.46
2.10
12.03

1.12
1.50
11.54
1.15
2.27
74.99
0.24
22.24
27.75
27.42
5.01
9.38

2.70
0.64
10.48
1.11
5.09
68.04
0.19
29.44
35.72
34.13
1.41
8.30
60.42
25.56
1.42
5.63
21.94

0.40
4.93
14.07
1.21
1.07
89.19
1.78
6.34
13.58
10.36
8.48
4.44

18,944

22,118

33,028

31,250

10,294

9,104

3,884

8,418

108,394

73,997
15,458
6,900
0
435,556

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

255

12.96

11.21
0.00
1.51
11.25

16.72
0.00
3.35
14.77

19.81
0.00
5.25
18.43

18.87
0.00
5.01
19.71

3.37
0.38
8.48
94.40

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

13,043

21,091

19,077

16,496

28,455
13,043
1,966
0

27,481
21,091
2,077
0

27,304
19,077
2,705
0

27,470
16,496
2,221
0

140,223
7,986
40,234
82,085
1,450
8,468
107,575
15,223
92,352
250

141,781
20,268
76,398
290
0
44,825
130,137
12,023
118,114
692

116,146
20,247
27,201
59,030
0
9,668
110,292
9,225
101,067
767

95,847
14,737
19,246
46,806
0
15,058
82,238
30,152
52,086
429

250
45,441
14,400
14,400
0
31,041

692
32,043
14,400
14,400
0
17,643

767
24,164
14,400
14,400
0
9,764

429
29,676
14,400
14,400
0
15,276

329,546
329,546
0
258,467

376,156
376,156
0
292,791

137,661
137,661
0
104,462

164,089
164,089
0
138,238

71,079
66,572

83,365
96,443

33,199
29,181

25,851
22,581

(Thousand Rupees)
2009
2010
2,944
0
5,533
2,644
2,158
0
0
300
83,918
4,572
15,973
49,392
0
13,981
72,317
32,963
39,354
192
192
0
0
0
0
14,353
14,400
14,400
0
(47)
0
(47)
0

2,826
0
4,606
2,080
230
0
0
746
89,662
5,537
19,181
40,545
0
24,399
75,564
43,780
31,784
0
0
0
0
0
0
16,924
14,400
14,400
0
2,524
0
2,524
0
96,036
96,036
0
79,591
64,569
15,022
16,445
27,494
11,171
16,323
10,719
6,045
5,718
2,571
1,133
0
0
(10,309)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

4,747
1,431
1,800
0

(12,999)
1,531
0
0

4,098
576
0
0

6,679
0
1,440
0

96,786
96,786
0
67,712
62,009
5,703
29,074
34,742
10,417
24,325
13,103
7,152
6,612
(6,856)
0
0
0
(12,234)

45,691
0
1,516
15,223

32,735
0
(14,530)
12,023

24,931
0
3,522
9,225

30,105
0
5,239
30,152

14,545
192
(6,856)
33,155

16,924
0
1,438
43,780

0.85
0.33
24.91
2.15
1.30
78.43
2.37
3.87
10.84
10.75
1.84
8.19

0.16
0.44
0.08
2.31
1.09
77.84
4.08
-8.22
-33.55
-33.15

0.72
1.87
42.88
1.02
1.05
75.88
4.60
2.75
14.58
14.21

0.75
1.73
28.52
1.46
1.17
84.25
2.79
5.40
24.81
24.27
4.64
8.53

0.75
7.39
51.03
1.11
1.16
69.96
5.05
-6.88
-31.14
-30.71

0.61
6.29
42.22
1.04
1.19
82.88
4.46
2.87
16.44
16.34

66,572

96,443

29,181

22,581

1,090

1,637

2,571

2,834

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

256

4.92

5.06

1.44
0.00
2.30
31.56

-3.46
0.00
-10.09
22.25

2.98
0.00
2.45
16.78

4.07
0.00
4.64
20.61

6.06
-0.04
-7.08
-0.17
-4.76
9.97

5.01
1.45
2.68
-0.14
1.00
11.75

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

527,589

600,980

851,456

989,326

1,431,881
527,589
84,072
0

1,577,875
600,980
86,790
0

1,905,560
851,456
81,876
0

2,139,689
989,326
103,583
0

2,899,233
257,287
1,222,702
1,185,633
0
233,611
1,840,437
708,809
1,131,628
500,000

2,996,237
244,214
1,170,443
1,231,429
0
350,151
1,574,491
763,457
811,034
700,000

3,404,783
209,729
1,307,084
1,457,059
0
430,911
2,241,608
1,095,025
1,146,583
500,000

3,737,164
259,117
1,509,283
1,604,921
0
363,843
2,369,165
1,560,823
808,342
433,333

500,000
1,086,385
155,968
155,968
0
930,417

700,000
1,322,726
218,355
218,355
0
1,104,371

500,000
1,514,631
218,355
218,355
0
1,296,276

433,333
1,923,992
272,943
272,943
0
1,651,049

5,543,371
5,503,856
39,515
4,405,638

5,582,103
5,542,734
39,369
4,595,458

6,335,091
6,259,192
75,899
5,000,073

7,723,125
7,423,629
299,496
5,921,260

1,137,733
407,229

986,645
201,537

1,335,018
505,356

1,801,865
612,172

(Thousand Rupees)
2009
2010
997,116
45,890
2,144,852
920,298
134,773
0
0
30,928
3,976,465
379,796
1,359,496
1,778,557
0
458,616
2,397,151
1,143,458
1,253,693
339,544
266,666
0
0
0
72,878
2,236,886
272,943
272,943
0
1,963,943
0
1,963,943
0

1,026,471
117,730
2,180,595
883,612
141,938
0
0
25,129
4,335,575
402,830
1,606,557
1,451,338
0
874,850
2,291,177
823,438
1,467,739
412,462
333,333
0
0
0
79,129
2,658,407
272,943
272,943
0
2,385,464
0
2,385,464
0
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
674,539
196,987
180,399
983,529
244,578
368,473
68,236
791,485

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

669,079
240,015
280,745
0

652,872
248,210
272,944
0

664,736
195,577
218,355
54,589

739,776
197,778
272,943
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
1,087,306

1,586,385
0
148,319
708,809

2,022,726
0
131,718
763,457

2,014,631
0
250,804
1,095,025

2,357,325
0
269,055
1,560,823

2,576,430
266,666
233,842
1,410,124

3,070,869
333,333
370,478
1,156,771

0.78
1.66
21.39
1.62
1.58
79.48
2.15
21.01
66.38
44.74
1.53
4.53

0.94
3.33
22.06
1.55
1.90
82.32
1.72
18.59
54.20
36.18
1.48
4.77

0.74
3.18
23.00
1.49
1.52
78.93
1.81
16.93
46.86
32.93
2.15
4.85

0.79
6.40
20.78
1.63
1.58
76.67
1.46
16.47
43.03
33.84
1.99
5.12

0.90
3.94
23.11
1.55
1.66
76.60
1.22
17.13
39.94
33.69
1.69
5.66
4.62
10.80
0.40
21.07
81.95

0.81
2.35
17.31
1.56
1.89
77.24
1.02
19.03
40.18
34.83
2.01
5.22
6.45
11.73
0.29
27.07
97.40

407,229

201,537

505,356

612,172

92,184

186,071

201,534

494,340

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

257

12.07
0.00
27.51
69.65

11.70
0.00
18.53
60.58

10.49
0.00
21.49
69.37

9.58
0.00
19.86
70.49

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

651,419

762,481

882,237

977,955

1,133,061
622,419
62,795
29,000

1,133,357
739,281
77,136
23,200

1,343,998
864,837
87,145
17,400

1,523,687
966,355
104,666
11,600

886,305
216,537
536,707
83,738
0
49,323
524,664
70,404
454,260
53,847

1,349,010
390,638
614,349
105,782
161,367
76,874
803,325
54,637
748,688
9,210

1,768,288
420,696
777,851
144,263
0
425,478
937,790
191,481
746,309
5,625

2,160,369
592,937
1,006,364
177,983
180,201
202,884
993,655
47,445
946,210
3,125

53,847
959,213
122,303
122,303
0
836,910

9,210
1,298,956
122,303
122,303
0
1,176,653

5,625
1,707,110
152,879
152,879
0
1,554,231

3,125
2,141,544
191,098
191,098
0
1,950,446

4,883,261
4,883,261
0
3,824,879

6,286,355
6,286,355
0
4,671,145

7,445,820
7,445,820
0
5,566,142

8,976,538
8,976,538
0
6,879,738

1,058,382
584,950

1,615,210
867,270

1,879,678
1,029,683

2,096,800
1,129,825

(Thousand Rupees)
2009
2010
1,235,265
143,778
1,668,694
1,024,478
132,713
42,074
0
24,935
2,705,155
1,024,666
1,128,432
339,490
0
212,567
1,072,926
2,500
1,070,426
167,283
625
0
0
0
166,658
2,700,211
238,873
238,873
0
2,461,338
13,456
2,447,882
0

1,928,870
555,047
2,080,805
1,318,071
127,345
32,155
0
23,597
2,877,700
1,088,021
1,322,237
316,779
0
150,663
1,011,144
625
1,010,519
218,280
0
0
0
0
218,280
3,577,146
274,704
274,704
0
3,302,442
13,456
3,288,986
0
11,529,310
11,529,310
0
7,699,401
5,566,225
2,133,176
3,829,909
2,144,325
1,846,098
298,227
647,230
11,036
1,590
1,764,192
560,800
370,850
41,206
1,106,491

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

467,091
132,500
122,303
0

769,333
263,079
195,685
30,576

896,605
283,000
244,606
38,220

1,021,009
300,600
191,098
47,775

11,264,677
11,264,677
0
8,482,756
6,637,554
1,845,202
2,781,921
1,640,246
1,425,714
214,532
489,562
48,867
41,794
1,146,105
388,313
274,704
35,831
819,289

1,013,060
0
212,288
70,404

1,308,166
0
310,569
54,637

1,712,735
0
368,999
191,481

2,144,669
0
529,311
47,445

2,867,494
625
483,088
3,125

3,795,426
0
832,542
625

0.57
0.30
1.71
3.18
1.69
78.33
0.60
31.70
57.76
52.30
2.74
9.10

0.82
0.21
1.68
2.98
1.68
74.31
0.63
42.16
68.14
66.29
2.59
10.23

0.60
0.20
1.94
2.81
1.89
74.76
0.55
37.66
59.65
59.36
2.51
9.57

0.96
0.22
1.98
2.86
2.17
76.64
0.47
35.28
53.06
52.94
3.77
8.92

1.27
0.43
3.01
2.86
2.52
75.30
0.46
32.38
47.34
45.73
2.76
9.98
28.42
10.17
0.66
31.72
113.04

1.39
0.10
2.75
2.40
2.85
66.78
0.34
40.34
56.21
52.96
3.24
8.72
1,110.55
15.30
0.90
43.81
130.22

584,950

867,270

1,029,683

1,129,825

14,526

13,309

14,801

19,875

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

258

9.57
0.00
27.36
78.43

12.24
0.00
41.39
106.21

12.04
0.00
40.14
111.66

11.37
0.00
37.70
112.07

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

39,548

78,318

71,191

64,281

117,660
39,548
4,574
0

165,174
78,318
8,743
0

165,923
71,191
7,876
0

71,329
64,281
7,048
0

25,213
4,530
4,533
3,627
0
12,523
43,835
227
43,608
840

24,275
1,325
7,305
6,027
0
9,618
52,530
252
52,278
588

32,074
2,752
15,954
6,654
0
6,714
12,791
279
12,512
40,696

39,358
2,031
9,667
14,579
0
13,081
52,038
0
52,038
0

840
20,086
40,000
40,000
0
(19,914)

588
49,475
40,000
40,000
0
9,475

40,696
49,778
40,000
40,000
0
9,778

0
51,601
40,000
40,000
0
11,601

29,414
29,414
0
20,115

29,865
29,865
0
25,706

29,221
29,221
0
22,466

58,896
58,896
0
51,594

9,299
5,188

4,159
5,686

6,755
6,167

7,302
7,143

(Thousand Rupees)
2009
2010
58,064
0
166,154
58,064
6,310
0
0
0
46,731
6,885
12,182
17,356
0
10,307
4,044
0
4,044
50,357
0
40,379
0
1,874
8,104
50,394
40,000
40,000
0
(14,605)
0
(14,605)
24,999

52,952
0
166,813
52,952
5,771
0
0
0
54,616
4,393
20,630
16,440
0
13,153
5,172
0
5,172
51,607
0
40,379
0
2,619
8,609
50,789
40,000
40,000
0
(11,799)
0
(11,799)
22,587
58,815
58,815
0
47,327
14,625
32,702
11,488
9,987
3,986
6,002
9,902
392
0
1,194
294
0
0
(1,833)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

4,182
146
0
0

(1,542)
147
0
0

688
145
0
0

471
289
0
0

51,466
51,466
0
43,702
25,475
18,227
7,764
7,717
3,063
4,654
7,710
322
0
119
0
0
0
5,264

20,926
0
4,036
227

50,063
0
(1,689)
252

90,474
0
543
279

51,601
0
182
0

100,751
0
119
0

102,396
0
900
0

0.19
0.15
12.33
0.45
0.58
68.39
2.22
6.54
22.29
21.80

0.14
0.55
20.18
0.29
0.46
86.07
1.07
-1.84
-4.43
-4.34

5.99
0.63
33.72
0.49
11.56
84.91
1.08
0.11
0.23
0.16

4.03
0.67
27.95
0.55
10.56
80.47
1.12
1.12
2.36
1.18

5,188

5,686

6,167

7,143

44

163

162

172

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.74
0.55
22.77
0.28
2.51
76.88
1.07
0.67
1.39
0.98

0.32
0.29
24.75
0.57
0.76
87.60
1.01
0.46
0.93
0.66

6.49

4.09

1.83

6.09

4.22

2.85

14.22
0.00
1.01
5.02

-5.16
0.00
-0.42
12.37

2.35
0.00
0.14
12.44

0.80
0.00
0.05
12.90

0.23
0.10
0.03
12.60

2.03
-0.03
0.23
12.70

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

690,299

1,347,374

1,374,029

1,396,334

2,373,680
690,299
75,423
0

3,335,259
1,347,374
81,426
0

3,462,669
1,374,029
121,310
0

2,156,195
1,396,334
140,572
0

12,096,871
398,919
164,432
0
10,479,531
1,053,989
3,375,631
2,334,900
1,040,731
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

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

24,233,806
933,938
89,568
8,821
21,439,053
1,762,426
8,247,484
70,139
8,177,345
0

0
9,411,539
720,576
720,576
0
8,690,963

0
9,273,144
828,662
828,662
0
8,444,482

6,500,000
18,889,332
828,662
828,662
0
18,060,670

0
17,382,656
1,093,834
1,093,834
0
16,288,822

3,712,153
3,712,153
0
2,452,209

4,333,921
4,333,921
0
3,022,417

5,543,477
5,543,477
0
3,681,026

7,665,206
7,665,206
0
4,548,966

1,259,944
259,024

1,311,504
306,637

1,862,451
365,251

3,116,240
573,781

(Thousand Rupees)
2009
2010
23,620,706
734,409
3,709,887
1,340,588
149,784
0
21,543,286
2,423
5,986,702
278,145
83,285
10,028
3,399,314
2,215,930
2,983,100
1,196,603
1,786,497
6,741,595
6,302,500
0
0
44,595
394,500
19,882,713
1,093,834
1,093,834
0
18,788,879
3,985
18,784,894
0

25,011,598
366,514
4,420,230
1,871,708
207,508
0
22,771,696
1,680
5,690,322
1,250,263
216,117
2,131
2,439,931
1,781,880
2,319,925
706,225
1,613,700
5,710,190
5,042,000
0
0
51,590
616,600
22,671,805
1,203,217
1,203,217
0
21,468,588
135,765
21,332,823
0
8,715,711
8,715,711
0
5,214,376
1,581,249
3,633,127
3,501,335
817,980
267,724
550,256
995,750
909,596
909,143
4,191,192
686,000
601,609
3,609,651
1,463,389

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,567,964
314,000
648,519
108,086

2,589,584
104,000
0
0

11,126,066
529,000
248,599
0

2,050,288
693,000
273,458
109,383

11,040,361
11,040,361
0
7,080,457
1,721,209
5,359,248
3,959,904
4,670,906
392,030
4,278,876
888,469
984,747
984,486
(213,477)
858,000
437,534
109,383
1,260,397

9,411,539
0
2,605,445
2,334,900

9,273,144
0
2,485,584
5,924,515

25,389,332
0
10,348,467
2,281,428

17,382,656
0
1,083,830
70,139

26,624,308
6,302,500
(1,509,011)
7,499,103

28,381,995
5,042,000
2,903,584
5,748,225

6.68
13.63
0.09
0.19
7.26
66.40
0.55
49.03
79.01
64.20
42.63
6.39

2.71
11.76
0.12
0.30
2.94
59.35
0.47
7.48
11.31
9.59
4.96
85.58

1.24
8.92
0.09
0.37
2.01
64.13
0.49
-0.77
-1.15
-0.97
-2.45
132.56
0.78
-1.93
0.13
-9.80
181.77

1.59
10.44
0.02
0.28
2.45
59.83
0.35
13.90
19.70
15.24
5.83
40.33
5.61
48.09
0.18
29.13
188.43

259,024

306,637

365,251

573,781

258,059

555,469

755,841

901,451

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

3.22
6.95
0.00
0.29
3.58
66.06
0.36
26.50
37.27
37.27
5.02
22.58

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

260

1.96
12.82
0.06
0.27
2.15
69.74
0.74
17.89
27.72
27.72

18.26

96.12
0.00
45.16
130.61

59.75
0.00
30.00
111.91

200.71
0.00
127.88
227.95

26.75
0.00
12.41
158.91

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

140,893

93,842

126,933

122,497

228,717
99,157
8,608
41,736

229,895
92,366
7,969
1,476

261,634
126,933
7,418
0

263,708
122,497
7,011
0

151,506
2,246
48,175
81,361
0
19,724
152,498
35,000
117,498
78,115

159,835
1,197
46,981
94,290
0
17,367
151,875
77,000
74,875
78,115

268,800
3,052
106,149
141,070
0
18,529
252,970
156,722
96,248
70,305

404,072
1,488
155,275
203,690
0
43,619
283,825
156,240
127,585
62,495

78,115
61,786
315,670
315,670
0
(253,884)

78,115
23,687
315,670
315,670
0
(291,983)

70,305
72,458
315,670
315,670
0
(243,212)

62,495
180,249
315,670
315,670
0
(135,421)

386,810
386,810
0
367,294

580,125
580,125
0
548,347

752,041
752,041
0
699,503

1,221,430
1,221,430
0
1,086,614

19,516
52,285

31,778
49,342

52,538
13,881

134,816
30,037

(Thousand Rupees)
2009
2010
851,002
61,831
828,563
646,433
42,922
0
88,660
54,078
1,025,911
28,044
386,825
478,767
0
132,275
1,071,483
845,252
226,231
144,225
128,185
0
0
16,040
0
661,205
315,670
315,670
0
306,640
0
306,640
38,894

789,164
2,034
848,328
623,197
42,922
41,587
58,205
64,142
1,272,239
41,210
532,048
486,175
0
212,806
1,336,317
1,050,585
285,732
117,143
100,375
0
0
16,768
0
607,943
997,789
997,789
0
(428,611)
0
(428,611)
38,765
2,383,950
2,377,398
6,552
2,072,600
1,864,259
208,341
311,350
190,416
73,689
116,727
128,631
159,606
156,605
(53,183)
86,526
997,789
0
(162,530)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(38,172)
1,682
0
0

(34,816)
2,539
0
0

11,254
3,291
0
0

91,784
5,319
157,835
0

2,769,953
2,736,971
32,982
2,551,882
2,344,347
207,535
218,071
195,905
80,928
114,977
141,365
186,705
182,994
(164,924)
95,708
0
0
135,819

139,901
0
(39,854)
35,000

101,802
0
(37,355)
77,000

142,763
0
7,963
156,722

242,744
0
(71,370)
156,240

805,430
128,185
(260,632)
973,437

725,087
100,375
(1,137,498)
1,150,960

0.55
1.83
21.03
1.32
0.99
94.95
3.73
-12.95
-46.57
-23.83

0.63
3.32
16.25
2.29
1.05
94.52
9.71
-12.75
-81.47
-28.81

0.57
3.64
18.76
1.90
1.06
93.01
4.46
3.47
23.41
9.20

0.72
2.27
16.68
2.32
1.42
88.96
1.92
19.90
72.64
47.62
0.55
7.87

0.47
6.74
17.28
1.48
0.96
92.13
1.84
-13.72
-39.20
-31.47

0.39
6.70
20.39
1.16
0.95
86.94
2.39
-2.70
-8.38
-6.95
-0.14
4.48
0.66
-2.23
-0.11
-1.40
6.09

52,285

49,342

13,881

30,037

7,088

19,233

27,403

27,751

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

261

8.03

12.35

7.08

-9.87
0.00
-1.26
1.96

-6.00
0.00
-1.18
0.75

1.50
0.00
0.25
2.30

7.51
0.00
1.37
2.86

7.16
0.10
-5.95
0.11
-8.26
20.95

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,501,195

0
0
0
0

(Thousand Rupees)
2009
2010
2,736,546
51,186
2,615,780
2,561,241
53,433
83,329
0
40,789
333,259
3,289
56,069
1,228
0
272,673
755,832
259,320
496,512
1,469,818
1,469,818
0
0
0
0
844,155
1,020,000
1,020,000
0
(175,845)
0
(175,845)
0

2,717,778
43,403
2,507,098
2,307,064
152,879
65,473
0
301,838
399,869
60,168
50,995
26,776
11,658
250,272
732,270
477,075
255,195
1,830,197
1,421,413
408,785
0
0
0
555,181
1,020,000
1,020,000
0
(464,819)
0
(464,819)
0

191,335
168,506
22,828
228,165
110,105
118,059
(36,830)
44,670
10,474
34,196
29,294
96,220
94,935
(177,719)
228
0
0
134,889

709,672
668,455
41,217
683,401
254,050
429,351
26,271
81,347
42,583
38,764
69,226
288,066
283,559
(336,104)
10,681
0
0
150,549

1,636,428
0
(10,235)
0

2,313,973
1,469,818
(177,947)
1,729,138

2,385,378
1,421,413
(346,786)
1,898,488

2.00

0.01
50.29
0.64
0.06
0.44
119.25
2.64
-7.42
-23.31
-9.00

0.13
40.59
3.77
0.23
0.55
96.30
4.62
-10.86
-48.04
-14.30

1,429,935
1,428,819
966
72,376

217,701
165,114
0
0
0
52,587
82,468
0
82,468
955,686

955,686
680,742
695,000
695,000
0
(14,258)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

0
10,216

10,216

19

(10,235)
0
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

262

0.00
2.64

1.53
-0.60
-1.50
-0.63

0.00
-0.15
9.79

3.41
-0.87
-92.88
0.06
-1.74
8.28

13.92
-0.19
-47.36
0.06
-3.40
5.44

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

9,084,707

12,983,938

12,050,679

11,004,254

17,997,636
9,113,602
1,004,821
(28,895)

22,813,436
13,007,054
935,500
(23,116)

22,669,002
12,050,679
1,237,493
0

23,007,124
11,004,254
1,130,462
0

11,238,704
349,532
7,837,089
1,585,252
84,809
1,382,022
11,505,627
5,145,902
6,359,725
2,608,035

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

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

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

2,608,035
6,209,749
3,663,211
3,663,211
0
2,546,538

2,690,560
8,604,945
3,663,211
3,663,211
0
4,941,734

2,246,068
7,796,659
3,663,211
3,663,211
0
4,133,448

2,967,192
2,895,946
3,663,211
3,663,211
0
(767,265)

19,470,936
17,051,211
2,419,725
18,378,842

16,732,600
15,573,615
1,158,985
15,701,976

15,021,483
13,940,169
1,081,314
14,749,416

10,762,126
9,991,069
771,057
13,253,410

1,092,094
489,705

1,030,624
421,202

272,067
325,474

(2,491,284)
535,722

(Thousand Rupees)
2009
2010
10,344,488
142,813
22,938,931
9,815,711
1,048,272
(5,779)
0
391,743
5,874,677
16,575
1,457,460
2,835,872
0
1,564,770
17,012,260
9,057,176
7,955,084
2,542,779
1,243,780
0
0
123,738
1,175,261
(3,335,874)
3,663,211
3,663,211
0
(9,572,222)
0
(9,572,222)
2,573,137

10,170,099
142,813
23,695,079
9,632,029
939,830
0
0
395,257
5,173,277
11,431
811,589
2,878,916
0
1,471,341
17,703,739
9,872,621
7,831,118
1,950,657
531,930
0
0
160,152
1,258,575
(4,311,020)
3,663,211
3,663,211
0
(10,882,178)
0
(10,882,178)
2,907,947
137,498
137,498
0
1,409,779
308,497
1,101,282
(1,272,281)
249,287
15,283
234,004
724,745
125,725
37,917
(1,647,293)
687
0
0
(19,957)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

14,569
86,717
255,573
255,573

(101,207)
83,614
0
0

(1,153,822)
75,253
0
0

(4,988,793)
53,821
0
0

4,169,615
4,094,451
75,164
8,206,331
4,418,818
3,787,513
(4,036,716)
286,099
65,963
220,136
721,007
2,050,224
1,446,431
(6,363,619)
752
0
0
214,484

8,817,784
0
(327,721)
5,145,902

11,295,505
0
(184,821)
5,859,541

10,042,727
0
(1,229,075)
5,119,099

5,863,138
0
(5,042,614)
7,464,653

(793,095)
1,243,780
(6,364,371)
10,300,956

(2,360,363)
531,930
(1,647,980)
10,404,551

0.18
3.04
8.14
0.96
0.98
94.39
2.27
0.07
0.23
0.16
-0.28
2.48

0.18
3.89
11.58
0.68
0.87
93.84
1.88
-0.45
-1.37
-1.01

0.21
7.52
16.03
0.64
0.85
98.19
2.02
-4.78
-14.07
-10.81

0.19
18.25
24.86
0.50
0.67
123.15
6.41
-22.16
-93.31
-62.73

0.17
49.17
68.01
0.26
0.35
196.81
-5.86
-33.77
2,893.03
-251.03

0.16
91.44
2,093.79
0.01
0.29
1,025.31
-4.56
-10.44
43.08
104.48

489,705

421,202

325,474

535,722

592,498

650,062

1,130,350

1,964,107

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.44

2.26

2.30

2.86
-3.40
-152.62
0.01
-17.37
-9.11

0.17
-42.44
-1,198.05
0.00
-4.50
-11.77

0.07
0.00
-0.20
16.95

-0.60
0.00
-0.50
23.49

-7.68
0.00
-3.36
21.28

-46.36
0.00
-13.77
7.91

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

174,914

171,034

145,891

132,307

0
174,914
0
0

394,319
171,034
17,256
0

400,063
145,891
31,367
0

405,541
132,307
25,675
0

362,587
11,934
137,065
163,777
0
49,811
277,710
171,807
105,903
0

421,335
8,932
147,567
229,641
0
35,195
297,508
198,295
99,213
1,894

398,000
9,374
163,819
206,882
0
17,925
245,963
156,008
89,955
1,405

519,984
17,693
233,112
207,221
0
61,958
311,062
162,487
148,575
4,862

0
259,791
94,362
94,362
0
165,429

1,894
292,967
94,362
94,362
0
198,605

1,405
296,523
94,362
94,362
0
202,161

4,862
336,367
94,362
94,362
0
242,005

1,133,447
1,133,447
0
1,023,991

1,305,209
1,305,209
0
1,124,312

1,379,132
1,379,132
0
1,246,969

1,507,129
1,507,129
0
1,319,138

109,456
92,192

180,897
103,535

132,163
90,544

187,991
112,511

(Thousand Rupees)
2009
2010
124,576
0
417,112
123,265
23,557
0
0
1,310
374,706
24,901
154,890
162,547
0
32,368
102,462
14,062
88,399
4,179
2,756
0
0
0
1,422
392,642
94,362
94,362
0
298,280
0
298,280
0

169,479
61,460
418,095
104,943
21,182
0
0
3,077
481,596
67,683
202,093
177,308
0
34,512
220,822
69,592
151,230
1,210
1,210
0
0
0
0
429,043
94,362
94,362
0
334,681
0
334,681
0
1,355,658
1,355,658
0
1,146,390
1,019,735
126,654
209,268
124,083
88,698
35,385
120,355
8,126
6,128
77,393
29,754
14,154
0
66,660

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

9,356
4,872
0
0

60,195
5,570
0
0

27,119
0
0
0

64,632
27,049
0
0

1,296,974
1,296,974
0
1,083,867
988,864
95,003
213,107
117,074
74,225
42,849
118,982
20,329
18,595
77,196
27,799
14,154
0
156,505

259,791
0
4,484
171,807

294,861
0
54,625
198,295

297,928
0
27,119
156,008

341,229
0
37,583
162,487

396,820
2,756
35,242
16,818

430,253
1,210
33,485
70,803

0.63
1.02
14.45
2.11
1.31
90.34
1.07
1.75
3.56
3.49

0.80
1.41
17.59
2.20
1.42
86.14
1.02
10.66
21.78
21.71

0.88
1.13
15.00
2.54
1.62
90.42
0.83
4.77
9.20
9.15

0.72
0.73
13.75
2.31
1.67
87.53
0.94
10.81
20.42
20.22

1.83
1.57
12.53
2.60
3.66
83.57
0.27
13.41
21.18
20.92
3.49
8.37
5.15
5.95
1.47
5.23
41.61

1.11
0.60
13.08
2.08
2.18
84.56
0.52
13.46
18.84
18.71
3.37
6.71
13.63
5.71
0.30
5.05
45.47

92,192

103,535

90,544

112,511

11,591

18,429

15,648

11,075

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

8.27

8.84

8.42

6.47

0.83
0.00
0.24
13.77

4.61
0.00
5.79
31.05

1.97
0.00
2.87
31.42

4.29
0.00
1.99
17.82

Financial Statement Analysis of Non Financial Sector 2010

Engro Corporation Limited (Engro Cheml 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

2005

2006

2007

2008

6,861,676

6,575,665

13,945,550

33,675,770

11,297,742
6,840,058
599,730
21,618

11,720,494
6,557,603
614,048
18,062

19,924,558
13,811,683
626,661
133,867

39,952,133
33,552,912
641,541
122,858

7,249,954
1,142,485
1,922,982
543,316
2,310,773
1,330,398
3,775,974
689,726
3,086,248
2,889,789

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

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

23,488,969
1,687,038
4,680,896
261,508
11,159,668
5,699,859
7,436,369
1,943,035
5,493,334
28,674,764

11,422,520

12,879,902

2,889,789
7,445,867
1,529,400
1,529,400
0
5,916,467

1,800,000
9,370,097
1,682,340
1,682,340
0
7,687,757

4,000,000
15,481,917
1,934,692
1,934,692
0
13,547,225

15,794,862
21,053,606
2,128,161
2,128,161
0
18,925,445

18,756,820
18,756,820
0
14,072,832

19,072,233
19,072,233
0
14,834,974

36,625,754
36,625,754
0
28,643,509

23,317,198
23,317,198
0
1,720,635

4,683,988
1,669,915

4,237,259
1,768,906

7,982,245
4,065,253

21,596,563
2,237,371

(Thousand Rupees)
2009
2010
82,960,567
63,233,217
13,400,008
6,156,969
686,456
122,704
12,988,657
459,020
10,748,871
3,955,342
422,607
2,514,425
450,857
3,405,640
6,395,469
1,005,853
5,389,616
60,425,731
58,565,354
0
0
259,366
1,601,011
26,888,238
2,979,426
2,979,426
0
23,908,812
10,228,600
13,680,212
0

27,896,393
19,095
151,356
117,083
18,333
0
26,136,701
1,623,514
3,114,550
806,584
0
0
1,970,603
337,363
3,954,457
3,384,536
569,921
2,847
0
0
0
1,550
1,297
27,053,639
3,277,369
3,277,369
0
23,776,270
10,624,874
13,151,396
0
0
0
0
0
0
0
0
427,425
0
427,425
213,005
92,131
82,118
1,811,975
135,618
1,966,421
655,474
(75,699)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,260,720
948,791
1,529,400
0

3,444,656
834,368
1,514,106
0

3,952,829
1,125,461
1,354,284
0

20,604,574
949,607
1,276,897
0

30,171,520
30,171,520
0
23,240,176
0
23,240,176
6,931,344
2,369,286
1,945,176
424,110
386,500
1,320,579
1,320,579
5,214,946
1,135,050
1,787,656
297,943
6,088,724

10,335,656
0
782,529
689,726

11,170,097
0
1,096,182
2,389,782

30,904,437
11,422,520
1,473,084
12,722,520

49,728,370
12,879,902
18,378,070
14,822,937

87,313,969
58,565,354
2,292,240
59,571,207

27,056,486
0
(290,064)
3,384,536

1.06
1.55
2.90
1.33
1.92
75.03
0.90
23.89
46.20
33.30
1.51
9.75

1.27
1.90
3.27
1.19
1.96
77.78
0.71
22.89
40.97
32.03
1.72
20.65

2.34
1.96
3.85
0.96
3.34
78.21
1.46
14.60
31.81
18.79
2.09
13.61

1.76
6.47
1.12
0.41
3.16
7.38
1.72
43.23
112.79
51.11
15.39
4.98

0.70

17.38
0.00
15.12
48.68

18.06
0.00
15.52
55.70

10.79
0.00
14.61
80.02

88.37
0.00
92.36
98.93

1.08
4.38
8.33
0.32
1.68
77.03
2.49
6.91
21.76
7.61
2.28
71.39
4.95
17.28
0.09
13.69
90.25

1,669,915

1,768,906

4,065,253

2,237,371

291,249

362,551

717,658

1,508,948

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

265

0.00
0.79

0.15
2.91
6.72
3.17
0.85

23.07

-0.02
5.11
82.55

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

19,419,977
5,248,606
16,110,197
14,112,080
519,802
11,816
0
47,475
3,379,518
217,531
1,605,438
439,905
61,398
1,055,246
4,888,922
1,610,634
3,278,288
11,514,930
11,155,098
0
0
38,312
321,520
6,395,643
5,203,677
5,203,677
0
1,191,966
984,751
207,215
0

19,583,286
60,140
22,127,016
19,138,589
1,016,117
20,856
0
363,701
4,898,054
682,894
2,176,960
369,400
0
1,668,800
6,431,165
3,141,681
3,289,484
11,064,315
11,014,224
0
0
50,091
0
6,985,860
6,634,688
6,634,688
0
351,172
972,413
(621,241)
0

11,632,775
10,169,334
1,463,441
10,418,592
7,904,707
2,513,885
1,214,183
921,567
483,814
437,753
339,100
606,175
582,898
(197,137)
71,787
0
0
725,974

14,618,594
12,524,551
2,094,043
13,314,604
9,199,788
4,114,816
1,303,990
1,125,565
642,782
482,783
646,874
1,438,988
1,408,163
(1,224,621)
167,709
0
0
(1,222,099)

17,910,573
11,155,098
(268,924)
12,765,732

18,050,175
11,014,224
(1,392,330)
14,155,905

0.15
5.21
3.78
0.51
0.69
89.56
2.56
-0.86
-3.08
-1.10

0.16
9.84
2.53
0.60
0.76
91.08
2.50
-5.18
-18.30
-6.81

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

266

7.25
0.66
-1.69
0.04
-0.52
12.29

6.72
0.13
-8.38
-0.07
-2.10
10.53

Financial Statement Analysis of Non Financial Sector 2010

Fatima Fertilizer Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

54,986,079
54,292,989
759,430
684,940
45,203
0
0
8,150
2,216,453
224,417
0
0
0
1,992,036
4,660,938
402,796
4,258,142
34,798,806
28,649,743
2,196,320
0
54,493
3,898,250
17,742,788
18,000,000
18,000,000
0
(257,212)
0
(257,212)
0

65,172,432
64,258,204
1,013,397
875,984
64,728
0
0
38,244
4,284,606
283,289
535,825
256,548
0
3,208,944
7,074,260
316,208
6,758,052
38,123,998
32,930,965
4,515,565
0
73,796
603,672
24,258,780
24,000,000
20,000,000
4,000,000
258,780
790,000
(531,220)
0

0
0
0
0
0
0
0
96,205
0
96,205
52,466
7,494
0
(97,121)
0
0
0
(1,969,691)

0
0
0
0
0
0
0
113,866
0
113,866
35,749
8,950
0
(121,070)
64,483
0
0
(381,357)

52,541,594
28,649,743
(97,121)
29,052,539

62,382,778
32,930,965
(185,553)
33,247,173

0.05

0.08

0.00
0.48

0.00
0.61

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

267

2.22
-0.17
-0.55
-0.18

1.86
-0.19
-0.58
-0.21

-0.05
-0.05
9.86

0.00

-0.01
-0.09
12.13

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

14,563,103

14,930,339

16,458,265

15,847,104

20,120,510
14,563,103
939,438
0

21,471,656
14,930,339
983,910
0

23,989,416
16,458,265
990,138
0

24,341,924
15,847,104
1,190,072
0

10,018,343
6,931,615
1,022,957
115,081
734,275
1,214,415
14,797,322
2,696,287
12,101,035
2,056,593

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

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

30,924,567
7,941,524
5,676,739
285,454
2,416,770
14,604,080
35,601,867
18,712,705
16,889,162
683,433

2,056,593
7,727,531
9,341,100
9,341,100
0
(1,613,569)

1,597,987
8,537,696
9,341,100
9,341,100
0
(803,404)

1,139,054
8,508,927
9,341,100
9,341,100
0
(832,173)

683,433
10,486,371
9,341,100
9,341,100
0
1,145,271

15,277,232
15,277,232
0
10,714,704

15,777,640
15,777,640
0
11,093,396

13,167,135
13,167,135
0
8,344,557

27,410,756
27,410,756
0
19,184,696

4,562,528
1,541,914

4,684,244
1,767,118

4,822,578
1,543,811

8,226,060
2,548,763

(Thousand Rupees)
2009
2010
17,781,417
0
25,174,496
15,576,899
100,612
0
2,127,972
76,546
18,443,765
9,648,031
1,227,013
476,728
4,658,936
2,433,057
16,747,253
8,186,073
8,561,180
8,818,028
227,810
4,537,404
0
0
4,052,814
10,659,901
9,341,100
9,341,100
0
1,318,801
228,350
1,090,451
0

17,018,327
0
25,569,760
14,706,760
37,354
0
2,235,255
76,312
18,317,665
12,720,051
1,270,667
829,985
1,250,000
2,246,962
15,389,027
5,880,534
9,508,493
7,736,933
0
3,889,203
0
0
3,847,730
12,210,032
9,341,100
9,341,100
0
2,868,932
228,350
2,640,582
0
43,256,712
43,256,712
0
29,793,541
23,636,426
6,157,115
13,463,171
3,997,379
2,584,683
1,412,696
2,862,236
933,996
883,001
9,685,778
3,408,046
6,118,421
0
7,387,951

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,914,920
0
1,868,220
0

3,756,914
0
2,335,275
0

3,899,929
0
934,110
0

4,404,875
1,419,206
2,101,748
0

36,724,920
36,724,920
0
27,059,566
15,988,881
11,070,685
9,665,354
3,080,019
2,236,123
843,896
2,127,948
1,459,792
1,318,482
5,808,303
2,195,215
3,736,440
0
20,743,771

9,784,124
0
2,046,700
2,696,287

10,135,683
0
1,421,639
4,990,045

9,647,981
0
2,965,819
6,333,615

11,169,804
0
883,921
18,712,705

19,477,929
227,810
(123,352)
8,413,883

19,946,965
0
159,312
5,880,534

0.30
10.19
1.04
0.59
0.87
69.99
3.46
11.62
46.38
42.32
1.42
4.83

0.88
3.97
1.30
1.01
1.10
73.68
2.40
14.00
54.93
37.90
0.97
29.93
5.41
15.82
0.81
3.87
11.41

0.96
2.16
1.92
1.22
1.19
68.88
1.89
27.07
84.70
49.14
1.03
34.04
11.97
22.39
0.32
6.72
13.07

1,541,914

1,767,118

1,543,811

2,548,763

259,817

412,370

630,513

2,791,971

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.53
1.70
0.75
0.62
0.68
70.14
2.18
16.82
52.64
40.26
2.10
14.93

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

268

0.51
2.61
1.47
0.57
0.73
70.31
2.24
14.38
46.20
37.72
1.61
19.71

0.48
4.79
1.85
0.45
0.65
63.37
2.41
13.75
45.76
39.43
4.18
22.40

25.63
0.00
4.19
8.27

23.81
0.00
4.02
9.14

29.62
0.00
4.18
9.11

16.07
0.00
3.20
11.23

Financial Statement Analysis of Non Financial Sector 2010

Fauji Fertilizer Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

10,858,576

11,177,191

11,959,724

14,300,047

22,879,707
9,184,727
605,875
1,673,849

23,698,672
9,607,957
665,735
1,569,234

25,628,842
10,390,490
719,957
1,569,234

28,622,189
12,730,813
891,514
1,569,234

17,590,563
1,172,113
560,472
659,713
12,253,258
2,945,007
14,680,709
4,392,288
10,288,421
981,078

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

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

17,618,916
931,865
258,094
495,929
11,256,342
4,676,686
14,255,536
3,857,036
10,398,500
5,378,214

432,986

216,493

548,092
12,787,352
4,934,742
4,934,742
0
7,852,610

977,257
12,956,543
4,934,742
4,934,742
0
8,021,801

2,671,250
12,730,045
4,934,742
4,934,742
0
7,795,303

5,378,214
12,285,213
4,934,742
4,934,742
0
7,350,471

43,481,901
43,481,901
0
29,799,341

48,595,921
48,595,921
0
34,180,173

40,688,779
40,688,779
0
25,731,835

57,433,698
57,433,698
0
36,829,444

13,682,560
4,540,661

14,415,748
5,247,604

14,956,944
4,800,349

20,604,254
6,111,963

(Thousand Rupees)
2009
2010
37,065,297
0
26,410,997
29,570,418
2,293,437
1,569,234
5,505,253
420,392
33,106,400
13,497,379
1,371,100
733,614
11,427,504
6,076,803
34,387,111
16,073,826
18,313,285
16,448,585
4,806,619
4,537,404
0
143,808
6,960,754
19,336,001
6,785,271
6,785,271
0
12,550,730
6,224,069
6,326,661
0

38,288,132
0
28,570,528
31,057,091
2,516,955
1,569,234
5,121,130
540,677
35,728,730
14,074,152
1,482,387
1,187,941
13,270,581
5,713,669
35,958,208
13,280,359
22,677,849
14,789,505
3,819,405
3,889,203
0
175,441
6,905,456
23,269,149
6,785,271
6,785,271
0
16,483,878
6,961,291
9,522,587
0
88,154,698
88,154,698
0
55,103,948
31,655,000
23,448,948
33,050,750
9,372,892
0
9,372,892
7,630,338
2,001,355
1,962,448
23,505,322
8,508,500
8,820,852
1,696,318
22,070,408

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

10,178,070
2,323,000
4,751,335
0

9,912,027
2,354,000
4,934,742
0

10,407,991
2,505,000
4,441,268
0

13,802,156
4,738,206
6,785,270
19,739

72,914,811
72,914,811
0
47,574,610
23,498,010
24,076,600
25,340,201
7,525,534
0
7,525,534
1,399,842
2,336,211
2,253,565
16,860,991
5,837,326
8,922,631
678,527
29,331,554

13,768,430
432,986
3,103,735
4,825,274

14,150,293
216,493
2,623,285
5,634,910

15,401,295
0
3,461,723
4,163,581

17,663,427
0
2,278,680
3,857,036

35,784,586
4,806,619
2,101,034
20,880,445

38,058,654
3,819,405
6,175,970
17,099,764

0.96
1.35
1.52
1.53
1.20
68.53
1.22
37.08
80.15
69.60
1.65
77.58

0.68
1.91
1.98
1.77
1.22
70.34
1.12
35.48
77.00
71.01
1.53
51.00

0.90
3.26
4.23
1.39
1.25
63.24
1.30
36.73
81.04
70.44
1.78
63.30

0.89
6.07
0.86
1.80
1.24
64.13
1.60
45.13
110.35
83.49
1.34
222.53

0.75
3.20
1.01
1.04
0.96
65.25
2.63
33.03
106.64
63.09
1.24
53.18
8.48
23.12
0.58
16.25
28.50

0.79
2.27
1.35
1.19
0.99
62.51
2.18
32.60
110.34
63.66
1.70
59.47
12.98
26.66
0.43
22.10
34.29

4,540,661

5,247,604

4,800,349

6,111,963

585,816

929,732

1,326,920

3,487,342

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

23.41
0.00
15.92
25.91

20.40
0.00
15.32
26.26

25.58
0.00
16.02
25.80

24.03
0.00
18.37
24.90

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

265,711

486,662

539,456

610,987

363,926
265,711
23,829
0

539,514
486,662
45,170
0

630,496
539,456
42,106
0

732,701
610,987
33,245
0

302,887
66,458
97,077
5,763
76,209
57,380
118,716
11,456
107,260
11,874

455,804
12,301
145,341
12,612
224,968
60,582
157,623
10,835
146,788
5,321

678,905
41,681
133,816
31,938
336,576
134,894
202,560
21,624
180,936
76,212

870,642
35,807
180,788
24,454
397,901
231,692
245,861
59,150
186,711
157,520

11,874
438,008
77,282
77,282
0
360,726

5,321
779,522
100,467
100,467
0
679,055

76,212
939,589
120,561
120,561
0
819,028

157,520
1,078,248
144,673
144,673
0
933,575

806,192
806,192
0
417,963

923,036
923,036
0
476,640

1,022,505
1,022,505
0
515,644

1,045,220
1,045,220
0
504,481

388,229
188,945

446,396
233,925

506,861
283,637

540,739
281,219

(Thousand Rupees)
2009
2010
1,278,224
0
1,435,864
1,273,098
45,403
0
33
5,093
474,850
45,744
280,925
57,955
0
90,226
269,146
95,657
173,488
228,498
174,538
0
0
0
53,960
1,255,431
173,607
173,607
0
834,349
39,312
795,037
247,475

1,300,404
0
1,555,899
1,294,927
108,664
0
33
5,444
681,611
56,493
39,000
74,110
0
512,009
361,241
131,128
230,113
138,407
79,938
0
0
0
58,469
1,482,368
208,329
208,329
0
1,032,018
24,794
1,007,224
242,021
1,536,683
1,536,683
0
837,141
695,197
141,944
699,542
440,519
318,253
122,266
134,431
33,461
31,154
261,433
12,766
0
41,666
223,474

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

217,272
64,591
19,321
22,081

221,591
63,172
40,187
20,093

258,513
56,841
78,364
24,112

292,662
74,249
43,402
28,935

1,189,257
1,189,257
0
584,147
517,152
66,995
605,110
381,707
271,025
110,682
202,925
3,779
1,477
249,141
62,063
17,361
34,721
107,095

449,882
0
133,360
11,456

784,843
0
118,232
10,835

1,015,801
0
123,308
21,624

1,235,768
0
175,011
59,150

1,483,929
174,538
169,717
270,195

1,620,775
79,938
248,667
211,066

1.25
0.23
0.71
1.42
2.55
51.84
0.30
43.03
58.58
57.48
7.90
8.30

1.59
0.25
1.37
0.98
2.89
51.64
0.21
29.33
36.40
35.89
3.94
6.35

2.03
0.41
3.12
0.84
3.35
50.43
0.30
23.93
30.08
28.71
2.57
7.64

1.86
0.14
2.34
0.71
3.54
48.27
0.37
21.68
29.01
26.00
5.03
5.78

0.39
0.32
4.87
0.68
1.76
49.12
0.40
15.40
21.35
18.32
10.78
4.23
169.73
20.95
0.22
10.78
72.31

0.36
2.18
4.82
0.78
1.89
54.48
0.34
14.00
19.10
16.84

188,945

233,925

283,637

281,219

1,854

2,328

4,148

1,487

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

270

26.95
0.00
19.76
56.68

24.01
0.00
15.77
77.59

25.28
0.00
16.73
77.93

28.00
0.00
15.10
74.53

39.40
9.39
17.01
0.45
11.94
71.16

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,638,766

2,487,650

2,477,898

2,447,092

5,149,179
2,638,766
222,109
0

5,425,000
2,487,650
203,801
0

5,590,156
2,477,898
267,844
0

5,732,852
2,447,092
261,107
0

2,618,086
161,569
1,710,624
488,900
159,650
97,343
1,993,910
1,298,162
695,748
413,177

2,739,192
13,801
1,662,434
331,347
302,204
429,406
2,676,825
845,910
1,830,915
461,013

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

3,421,747
94,729
1,719,387
643,811
300,500
663,320
2,652,657
902,852
1,749,805
934,108

413,177
2,849,765
383,645
383,645
0
2,466,120

461,013
2,089,004
383,645
383,645
0
1,705,359

458,836
2,182,977
383,645
383,645
0
1,799,332

934,108
2,282,074
383,645
383,645
0
1,898,429

5,664,125
5,066,898
597,227
5,150,440

4,839,861
4,488,203
351,658
4,488,019

6,209,240
5,578,538
630,702
5,684,224

7,056,483
6,105,612
950,871
6,271,176

513,685
162,509

351,842
133,275

525,016
206,735

785,307
409,724

(Thousand Rupees)
2009
2010
4,820,650
44,006
6,860,570
2,986,512
287,276
0
1,781,013
9,119
3,272,306
172,855
1,956,512
544,109
0
598,830
2,481,070
1,745,657
735,413
832,783
337,472
0
0
58,999
436,312
4,779,103
383,645
383,645
0
4,395,458
458,645
3,936,813
0

4,946,409
20,020
6,974,506
2,882,146
280,749
0
2,033,846
10,397
2,852,669
136,418
1,392,237
523,609
0
800,405
1,717,945
616,347
1,101,598
769,657
298,815
0
0
68,392
402,450
5,311,476
383,645
383,645
0
4,927,831
458,645
4,469,186
0
8,480,372
7,796,519
683,853
7,679,288
5,558,404
2,120,884
801,084
285,299
133,078
152,221
580,374
173,062
171,320
349,555
46,330
76,729
0
1,619,377

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

327,504
25,240
191,822
0

129,849
23,703
57,547
0

180,418
30,135
57,547
0

231,605
17,186
57,547
82,284

7,372,729
6,729,586
643,143
6,551,333
5,024,010
1,527,323
821,396
326,408
130,996
195,412
495,585
255,629
253,047
253,005
7,225
57,547
0
66,354

3,262,942
0
110,442
1,298,162

2,550,017
0
48,599
845,910

2,641,813
0
92,736
1,054,015

3,216,182
0
156,872
902,852

5,611,886
337,472
188,233
2,083,129

6,081,133
298,815
226,496
915,162

0.41
0.89
8.63
1.08
1.31
90.93
0.84
6.66
12.68
11.51
1.58
3.31

0.24
2.61
6.85
0.93
1.02
92.73
1.50
2.48
5.26
4.47
1.84
2.91

0.39
2.16
9.12
1.20
1.29
88.87
1.57
4.17
10.37
7.91
3.73
4.10

0.29
3.47
7.38
0.91
1.32
88.86
0.69
3.62
7.17
5.73
4.27
3.77
2.00
3.43
0.02
6.41
124.57

0.38
2.04
6.17
1.09
1.66
90.55
0.47
4.40
6.93
5.98
3.95
6.09
3.04
4.12
0.65
7.90
138.45

162,509

133,275

206,735

409,724

50,353

126,359

171,874

152,715

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

271

0.33
2.77
8.49
1.18
1.06
91.54
1.40
3.45
8.45
6.95
2.61
4.18

5.78
0.00
7.88
74.28

2.68
0.00
2.77
54.45

2.91
0.00
3.92
56.90

3.28
0.00
5.59
59.48

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,071,511
196,607
876,971
860,921
15,535
0
0
13,983
57,785
8,310
6,735
9,640
0
33,100
64,706
18,474
46,232
354,819
261,692
0
0
0
93,127
709,771
724,500
724,500
0
(14,729)
30,000
(44,729)
0

1,105,696
265,234
885,270
812,912
56,308
0
0
27,551
178,414
85,605
19,035
19,604
0
54,171
172,856
75,426
97,430
465,688
336,816
100,772
0
0
28,100
645,567
724,500
724,500
0
(78,933)
30,000
(108,933)
0

25,651
25,651
0
23,741
61
23,680
1,910
39,680
10,844
28,836
19,371
2,001
1,811
(38,367)
7,500
0
0
(211,062)

270,617
270,617
0
245,108
2,231
242,877
25,508
106,316
52,335
53,981
51,882
34,571
34,494
(62,558)
22,567
724,500
0
87

1,064,590
261,692
(45,868)
280,167

1,111,255
336,816
(809,625)
412,242

0.28
7.80
37.58
0.02
0.89
92.56
0.59
-3.40
-5.41
-3.60

0.61
12.77
7.24
0.21
1.03
90.57
0.99
-5.18
-9.23
-5.75
-0.12
14.22
-0.81
-23.12
0.00
-1.17
8.91

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

272

3.81
-20.18
-149.58
-0.50
-0.63
9.80

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,503,102

1,774,449

2,236,720

2,415,255

2,982,661
1,503,102
151,605
0

3,374,753
1,774,449
152,766
0

3,659,024
2,236,720
172,362
0

4,185,025
2,415,255
231,041
0

6,757,409
3,984,299
1,972,953
64,881
387,719
347,557
1,317,503
0
1,317,503
0

7,669,373
4,666,470
2,195,407
84,697
195,525
527,274
1,906,904
0
1,906,904
0

7,927,789
4,252,745
2,277,175
116,847
445,057
835,965
2,046,868
0
2,046,868
0

8,210,370
2,724,897
3,494,054
1,016,968
327,366
647,085
2,270,734
0
2,270,734
0

0
6,943,008
1,092,300
1,092,300
0
5,850,708

0
7,536,918
1,365,375
1,365,375
0
6,171,543

0
8,117,641
1,706,719
1,706,719
0
6,410,922

0
8,354,891
1,706,718
1,706,718
0
6,648,173

9,554,078
9,369,871
184,207
5,707,691

10,240,065
10,025,453
214,612
6,373,399

10,784,802
10,528,472
256,330
6,832,673

13,687,063
13,397,423
289,640
9,831,458

3,846,387
1,489,144

3,866,666
1,711,871

3,952,129
1,921,451

3,855,605
2,057,496

(Thousand Rupees)
2009
2010
5,027,966
422,278
5,353,035
3,407,310
310,126
956,045
168,687
73,646
9,402,942
2,053,153
4,543,689
1,328,457
644,889
832,754
3,346,868
4,520
3,342,348
490,554
0
0
0
72,885
417,669
10,593,486
1,706,718
1,706,718
0
8,886,768
2,866,368
6,020,400
0

5,231,199
822,560
5,620,811
3,367,436
371,834
955,742
0
85,461
9,660,600
2,808,772
4,312,535
295,762
901,955
1,341,576
3,560,293
0
3,560,293
531,692
0
0
0
115,240
416,452
10,799,814
1,964,118
1,964,118
0
8,835,696
2,612,811
6,222,885
0
18,916,191
18,321,474
594,717
14,063,242
10,918,242
3,145,000
4,852,949
3,298,895
2,301,516
997,379
2,301,857
20,026
0
1,931,724
864,298
785,647
294,618
2,433,324

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,694,399
875,000
611,688
218,460

2,631,869
944,373
1,092,300
273,075

2,658,543
877,946
1,280,039
426,680

3,001,040
990,000
1,621,382
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
1,347,341

6,943,008
0
1,207,711
0

7,536,918
0
595,196
0

8,117,641
0
500,558
0

8,354,891
0
389,658
0

11,084,040
0
131,154
4,520

11,331,506
0
281,779
0

2.59
0.19
0.83
1.08
4.02
62.24
0.25
29.73
36.35
36.35
1.54
4.66

2.35
0.11
1.08
1.06
3.87
63.35
0.25
27.12
33.97
33.97
1.39
4.74

1.79
0.56
7.43
1.29
3.62
71.83
0.27
28.87
36.44
36.44
1.24
3.92

1.20
0.27
7.93
1.16
2.81
74.70
0.36
13.62
18.01
17.56
1.15
3.69
102.30
10.19
0.35
5.77
62.07

1.13
0.11
1.56
1.27
2.71
74.34
0.38
13.18
18.06
17.24
1.36
4.39

1,489,144

1,711,871

1,921,451

2,057,496

13,246

19,316

11,550

76,859

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

3.37
0.14
0.68
1.16
5.13
59.74
0.19
35.63
42.49
42.49
2.97
4.84

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

273

28.20
0.00
16.66
63.56

25.70
0.00
12.36
55.20

24.65
0.00
10.43
47.56

21.93
0.00
11.78
48.95

10.21
0.59
5.43
54.99

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

553,089

555,663

662,532

749,780

712,029
511,097
52,697
41,992

753,434
515,255
52,925
40,408

860,113
618,702
55,527
43,830

957,891
683,288
56,276
66,492

524,779
13,504
281,658
0
20,000
209,617
524,614
331,058
193,556
31,527

600,964
15,565
359,569
125,547
20,000
80,283
591,515
313,590
277,925
40,881

676,438
11,857
418,423
187,341
20,000
38,817
594,336
284,274
310,062
86,182

726,367
7,178
449,901
140,987
10,000
118,301
680,638
389,580
291,058
96,472

31,527
521,727
113,612
113,612
0
408,115

40,881
524,231
130,654
130,654
0
393,577

86,182
658,452
150,252
150,252
0
508,200

96,472
699,037
165,277
165,277
0
533,760

1,384,866
1,338,951
45,915
905,750

1,640,490
1,549,389
91,101
976,260

2,072,087
2,010,232
61,855
1,272,497

2,354,224
2,294,968
59,256
1,547,713

479,116
397,056

664,230
539,667

799,590
668,967

806,511
623,662

(Thousand Rupees)
2009
2010
779,574
37,199
996,613
675,428
64,765
65,385
0
1,562
966,467
32,177
700,501
27,137
0
206,651
765,794
611,497
154,297
297,680
70,554
0
0
113,273
113,853
682,567
165,277
165,277
0
322,900
0
322,900
194,389

840,529
13,484
1,064,508
696,384
63,767
129,099
0
1,562
901,894
65,485
640,845
42,107
0
153,457
640,562
499,418
141,144
387,956
127,850
0
0
138,545
121,562
713,905
165,277
165,277
0
360,153
0
360,153
188,475
2,636,538
2,504,383
132,155
1,732,983
1,402,433
330,550
903,555
714,577
538,367
176,210
438,540
89,425
87,267
107,901
22,727
41,319
16,528
271,054

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

64,284
14,825
0
0

99,909
45,005
19,598
19,598

97,022
54,829
37,563
15,025

120,202
15,868
41,319
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
31,291

553,254
0
49,459
331,058

565,112
0
35,306
313,590

744,634
0
4,630
284,274

795,509
0
63,015
389,580

980,247
70,554
77,333
682,051

1,101,861
127,850
43,855
627,268

0.06
2.54
0.00
1.28
1.00
65.40
1.07
6.10
13.09
11.80

0.27
2.53
7.65
1.42
1.02
59.51
1.21
8.94
19.10
17.87
2.80
4.56

0.37
2.27
9.04
1.55
1.14
61.41
1.03
7.78
16.41
14.82
1.12
4.95

0.23
3.34
5.99
1.59
1.07
65.74
1.11
8.54
17.71
15.61
2.53
5.23

0.08
3.29
1.09
1.42
1.26
63.53
1.56
9.45
22.04
17.14
2.87
3.54
2.93
6.14
0.03
7.18
41.30

0.17
3.39
1.60
1.51
1.41
65.73
1.44
6.19
15.45
10.36
2.06
4.11
2.24
4.09
0.26
5.15
43.19

397,056

539,667

668,967

623,662

35,112

41,508

47,114

78,591

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.92

274

4.64
0.00
4.35
45.92

6.09
0.00
4.20
40.12

4.68
0.00
2.81
43.82

5.11
0.00
6.31
42.29

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

6,141,684

8,415,034

8,546,473

9,361,469

15,426,468
6,037,873
666,011
103,811

18,544,997
8,343,260
688,876
71,774

19,468,875
8,506,736
842,352
39,737

21,023,833
9,353,769
774,007
7,700

8,597,937
1,687,656
2,511,481
647,009
212,500
3,539,291
4,560,730
0
4,560,730
0

8,514,550
1,791,151
2,347,790
730,676
212,500
3,432,433
5,540,354
3,613
5,536,741
0

10,259,818
3,615,056
2,311,336
1,049,464
582,500
2,701,462
6,395,674
0
6,395,674
0

9,109,216
1,971,081
2,951,956
806,612
712,500
2,667,067
5,059,764
0
5,059,764
0

0
10,178,891
1,388,023
1,388,023
0
8,790,868

0
11,389,230
1,388,023
1,388,023
0
10,001,207

0
12,410,617
1,388,023
1,388,023
0
11,022,594

0
13,410,921
1,388,023
1,388,023
0
12,022,898

21,054,298
21,054,298
0
17,852,003

21,885,250
21,885,250
0
17,934,098

25,973,009
25,973,009
0
21,308,906

27,798,915
27,032,222
766,693
22,303,138

3,202,295
1,617,641

3,951,152
1,773,800

4,664,103
2,060,085

5,495,777
2,677,116

(Thousand Rupees)
2009
2010
10,025,878
416,883
22,584,248
9,445,987
949,609
0
2,500
160,508
11,053,575
4,547,713
3,253,345
944,879
0
2,307,638
5,909,528
36,038
5,873,490
1,208,356
0
0
0
519,579
688,777
13,961,569
1,388,023
1,388,023
0
11,629,422
465,845
11,163,577
944,124

9,881,626
285,356
23,291,541
9,224,944
997,749
180,103
2,500
188,723
11,829,073
4,739,557
3,816,680
818,351
0
2,454,485
5,566,621
0
5,566,621
1,093,429
0
0
0
693,286
400,143
15,050,649
1,388,023
1,388,023
0
12,745,246
465,845
12,279,401
917,380
34,994,489
34,157,479
837,010
28,182,149
20,217,945
7,964,204
6,812,340
3,283,737
1,674,719
1,609,018
2,511,243
165,416
1,536
3,779,793
1,457,540
2,429,040
0
2,498,711

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,611,337
0
277,605
0

1,976,395
2,362
763,413
0

2,604,184
127,702
832,814
0

2,812,778
102,838
902,215
0

28,336,655
28,010,436
326,219
22,569,672
16,032,649
6,537,023
5,766,983
2,896,980
1,470,174
1,426,806
2,331,407
185,742
19,965
3,082,098
490,813
1,110,418
0
4,630,885

10,178,891
0
1,333,732
0

11,389,230
0
1,210,620
3,613

12,410,617
0
1,643,668
0

13,410,921
0
1,807,725
0

15,169,925
0
1,480,867
36,038

16,144,078
0
(106,787)
0

0.56
0.64
3.07
1.43
1.89
84.79
0.45
11.21
17.03
17.03
5.80
8.38

0.49
1.48
3.34
1.29
1.54
81.95
0.49
12.48
18.33
18.33
2.59
9.32

0.82
0.59
4.04
1.38
1.60
82.04
0.52
14.57
21.88
21.88
2.97
11.24

0.69
0.79
2.90
1.51
1.80
80.23
0.38
15.09
21.79
21.79
3.00
9.42

0.93
0.66
3.33
1.34
1.87
79.65
0.51
15.59
22.52
21.57
2.33
8.71
155.38
10.88
0.65
18.67
100.59

1.00
0.47
2.34
1.61
2.13
80.53
0.44
17.67
26.06
24.14
0.96
9.17
2,461.80
10.80
0.38
16.73
108.43

1,617,641

1,773,800

2,060,085

2,677,116

133,935

323,980

154,101

219,308

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

275

7.65
0.00
11.61
73.33

9.03
0.00
14.22
82.05

10.03
0.00
17.84
89.41

10.12
0.00
19.52
96.62

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,536,327

2,536,078

2,491,106

2,424,996

1,870,898
1,533,726
76,837
2,601

3,022,524
2,534,327
151,281
1,751

3,171,273
2,489,568
194,701
1,538

3,283,458
2,420,855
181,901
4,141

862,771
80,831
95,014
171,516
341
515,069
937,998
608,534
329,464
926,853

1,024,421
257,713
144,617
201,342
1,817
418,932
1,211,382
691,847
519,535
1,083,704

1,042,350
29,130
102,285
444,614
65,542
400,779
1,323,098
835,414
487,684
802,509

1,065,915
40,859
144,335
297,437
136,057
447,227
921,398
345,391
576,007
1,150,491

166,533

83,266

760,320
534,247
300,000
300,000
0
234,247

1,000,438
1,265,413
300,000
300,000
0
965,413

802,509
1,407,849
360,000
360,000
0
1,047,849

1,150,491
1,419,022
360,000
360,000
0
1,059,022

2,208,076
2,208,076
0
1,874,993

2,519,248
2,519,248
0
2,053,867

2,958,555
2,958,555
0
2,336,587

3,170,989
3,170,989
0
2,636,186

333,083
184,595

465,381
167,965

621,968
191,202

534,803
226,778

(Thousand Rupees)
2009
2010
2,714,739
32,919
3,676,766
2,598,293
206,274
9,755
61,586
12,186
1,211,614
26,494
128,307
601,687
0
455,126
993,984
461,590
532,394
1,341,141
953,803
29,810
0
5,515
352,013
1,591,228
360,000
360,000
0
482,669
4,261
478,408
748,559

2,618,994
54,380
3,751,613
2,470,758
205,356
7,907
64,500
21,449
1,261,499
15,399
197,815
501,812
0
546,473
1,023,069
634,313
388,756
1,163,117
830,501
15,810
0
10,214
306,592
1,694,307
360,000
360,000
0
585,748
9,740
576,008
748,559
3,257,935
3,257,935
0
2,552,172
361,992
2,190,180
705,763
353,572
229,838
123,734
252,455
216,332
211,878
150,704
60,697
18,000
0
117,494

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

90,144
9,700
0
50,000

166,716
11,000
0
60,000

234,795
12,900
54,000
0

91,799
14,411
54,000
0

3,633,404
3,633,404
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
360,628

1,461,100
166,533
80,444
775,067

2,349,117
83,266
155,716
775,113

2,210,358
0
167,895
835,414

2,569,513
0
23,388
345,391

2,932,369
953,803
172,385
1,415,393

2,857,424
830,501
72,007
1,464,814

0.27
2.83
7.77
0.92
0.92
84.92
3.49
4.53
19.04
7.35

0.38
5.64
7.99
0.71
0.85
81.53
1.81
5.59
18.53
8.75

0.41
7.02
15.03
0.84
0.79
78.98
1.51
6.62
17.57
10.30
4.11
28.92

0.51
6.88
9.38
0.91
1.16
83.13
1.46
2.61
6.49
3.84
1.43
21.97

0.63
6.91
16.56
0.93
1.22
76.86
1.47
7.08
17.44
9.54
4.19
28.32
2.06
7.22
0.15
6.29
44.20

0.51
6.64
15.40
0.84
1.23
78.34
1.29
3.86
9.17
5.21
5.00
16.47
1.71
4.63
0.05
2.50
47.06

184,595

167,965

191,202

226,778

62,509

142,055

207,791

218,056

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

276

23.24

17.42

4.08
0.00
2.68
17.81

6.62
0.00
5.19
42.18

7.94
0.00
6.16
39.11

2.89
0.00
2.15
39.42

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

106,351

104,686

99,862

172,410

253,430
106,351
10,796
0

262,358
104,686
10,591
0

266,301
99,862
9,897
0

346,072
172,410
9,721
0

174,291
2,111
0
23,683
0
148,497
132,271
55,103
77,168
8,259

161,157
1,786
111,927
14,634
0
32,810
108,814
59,037
49,777
2,420

171,498
1,166
112,816
33,414
0
24,102
129,931
61,175
68,756
1,735

187,351
1,144
130,573
27,013
0
28,621
152,747
82,264
70,483
2,357

8,259
140,112
75,000
75,000
0
65,112

2,420
154,609
75,000
75,000
0
79,609

1,735
139,694
75,000
75,000
0
64,694

2,357
204,657
75,000
75,000
0
129,657

229,823
69,063
160,760
176,796

265,847
100,242
165,605
203,487

273,469
118,071
155,398
227,584

254,369
126,800
127,569
216,193

53,027
32,945

62,360
37,184

45,885
37,000

38,176
38,213

(Thousand Rupees)
2009
2010
173,156
1,499
353,341
170,743
9,672
64
0
850
210,729
1,244
144,725
40,230
0
24,530
145,340
84,135
61,205
12,529
3,656
0
0
0
8,873
226,016
75,000
75,000
0
72,818
0
72,818
78,198

196,883
26,217
360,277
169,023
10,218
50
0
1,593
168,680
1,130
117,267
19,124
0
31,159
132,363
82,675
49,688
19,184
10,584
0
0
0
8,600
214,016
75,000
75,000
0
60,818
0
60,818
78,198
476,657
279,359
197,298
422,867
255,366
167,501
53,790
43,374
5,469
37,905
56,866
11,698
9,339
491
3,557
0
0
34,914

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

14,838
4,130
8,502
0

20,488
5,386
0
0

5,038
3,058
0
0

181
2,371
0
0

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
9,691

148,371
0
2,206
55,103

157,029
0
15,102
59,037

141,429
0
1,980
61,175

207,014
0
(2,190)
82,264

238,545
3,656
11,820
87,791

233,200
10,584
(3,066)
93,259

0.20
2.24
10.30
0.82
1.32
76.93
1.00
5.45
10.63
9.84
1.26

0.15
2.41
5.50
1.00
1.48
76.54
0.72
7.50
13.90
13.42

0.27
2.02
12.22
1.01
1.32
83.22
0.94
1.88
3.42
3.38

0.18
2.79
10.62
0.71
1.23
84.99
0.76
0.06
0.11
0.10

0.15
2.45
4.01
1.30
1.27
88.72
0.71
0.13
0.22
0.21

2.38

2.42

1.95

6.46
0.00
1.43
18.68

7.71
0.00
2.01
20.61

1.84
0.00
0.26
18.63

0.07
0.00
-0.29
27.29

0.29
2.70
9.34
1.12
1.45
81.19
0.70
7.93
13.70
13.24
2.31
2.98
4.03
6.85
0.06
2.78
30.14

32,945

37,184

37,000

38,213

5,155

6,404

5,528

7,093

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

4.06
1.05
0.10
0.23
-0.41
28.54

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

12,568,358

11,704,801

10,745,850

9,952,791

24,571,597
12,568,358
1,622,352
0

12,430,062
11,704,801
1,372,015
0

25,453,555
10,745,850
1,175,540
0

25,856,228
9,952,791
1,193,726
0

4,858,220
32,153
2,835,633
779,160
0
1,211,274
8,962,846
5,129,993
3,832,853
2,024,022

6,211,023
57,703
3,703,077
804,809
0
1,645,434
11,495,391
5,576,034
5,919,357
533,767

6,568,981
74,186
2,344,637
2,818,667
0
1,331,491
7,108,190
1,568,267
5,539,923
4,379,041

5,270,119
16,446
1,244,313
1,089,614
0
2,919,746
10,669,595
83,615
10,585,980
400,188

2,024,022
6,439,710
15,142,072
15,142,072
0
(8,702,362)

533,767
5,886,666
15,142,072
15,142,072
0
(9,255,406)

4,379,041
5,827,600
15,142,072
15,142,072
0
(9,314,472)

400,188
4,153,127
15,142,072
15,142,072
0
(10,988,945)

28,424,844
23,170,872
5,253,972
25,754,251

30,815,350
27,577,791
3,237,559
28,579,024

31,535,535
31,535,535
0
30,185,488

35,975,240
35,975,240
0
35,106,901

2,670,593
517,628

2,236,326
685,005

1,350,047
286,382

868,339
1,673,308

(Thousand Rupees)
2009
2010
9,432,597
192,706
26,026,418
9,141,947
1,205,464
861
0
97,083
9,543,763
5,437,940
1,273,922
1,800,772
0
1,031,129
5,750,627
119,293
5,631,334
7,308,015
351,796
5,322,397
0
9,999
1,623,823
5,917,718
15,142,072
15,142,072
0
(9,310,346)
2,345
(9,312,691)
85,992

8,999,122
576,645
26,408,823
8,313,263
1,243,432
406
0
108,808
13,896,908
6,910,308
2,655,203
2,937,816
364,644
1,028,937
8,054,478
146,577
7,907,901
5,153,170
214,445
3,437,500
0
14,749
1,486,476
9,688,382
15,142,072
15,142,072
0
(5,539,682)
2,345
(5,542,027)
85,992
42,401,588
40,929,998
1,471,590
35,369,663
30,998,548
4,371,115
7,031,925
984,197
109,983
874,214
996,225
229,225
188,771
6,711,501
2,344,659
757,104
0
5,630,598

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,415,845
410,900
0
0

364,677
485,030
0
0

199,411
206,830
0
0

(1,678,690)
65,918
0
0

37,851,240
35,024,042
2,827,198
31,954,429
28,220,736
3,733,693
5,896,811
880,312
121,252
759,060
764,858
754,702
245,632
4,719,243
1,296,522
757,104
0
7,051,345

8,463,732
0
1,004,945
5,129,993

6,420,433
0
(120,353)
5,576,034

10,206,641
0
(7,419)
1,568,267

4,553,315
0
(1,744,608)
83,615

13,225,733
351,796
2,665,617
471,089

14,841,552
214,445
3,609,738
361,022

0.08
4.12
2.61
1.72
0.54
92.74
2.04
2.06
5.92
4.90

0.41
3.28
8.94
1.82
0.92
95.72
1.97
1.13
3.40
2.40

0.10
2.86
3.03
2.36
0.49
97.59
2.67
-10.32
-33.64
-22.75

1.26
1.99
4.76
1.99
1.66
84.42
2.21
27.60
93.72
53.09
4.52
29.71
20.21
12.47
0.54
2.26
3.91

1.27
0.54
6.93
1.85
1.73
83.42
1.36
32.06
86.01
47.82
5.77
15.97
36.55
15.83
0.43
2.88
6.40

517,628

685,005

286,382

1,673,308

979,170

1,270,819

1,033,269

1,027,497

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.09
3.44
2.74
1.63
0.54
90.60
1.71
7.69
23.94
20.44

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

278

10.02

8.32

13.45

28.91

4.98
0.00
0.66
4.25

1.18
0.00
-0.08
3.89

0.63
0.00
0.00
3.85

-4.67
0.00
-1.15
2.74

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

171,116

134,422

142,985

113,888

413,030
171,116
14,737
0

384,367
134,422
12,911
0

406,765
142,985
13,834
0

390,776
113,888
13,109
0

86,572
1,495
20,778
48,924
0
15,375
232,576
89,997
142,579
247,947

113,560
1,518
16,003
51,580
0
44,459
177,010
43,056
133,954
189,706

122,417
3,244
21,336
75,376
0
22,461
235,900
39,392
196,508
188,996

147,936
1,670
39,290
63,375
0
43,601
250,323
39,038
211,285
196,877

247,947
(222,835)
73,554
73,554
0
(296,389)

189,706
(118,734)
73,554
73,554
0
(192,288)

188,996
(159,494)
73,554
73,554
0
(233,048)

196,877
(185,376)
73,554
73,554
0
(258,930)

299,714
289,242
10,472
286,585

230,498
225,546
4,952
188,164

303,091
298,588
4,503
276,492

249,258
248,139
1,119
227,053

13,129
56,066

42,334
38,634

26,599
47,460

22,205
45,143

(Thousand Rupees)
2009
2010
124,071
0
390,045
103,634
11,939
0
0
20,437
109,612
967
25,332
62,702
0
20,611
237,868
39,169
198,699
203,931
192,914
0
0
11,017
0
(208,117)
73,554
73,554
0
(281,671)
58,220
(339,891)
0

113,633
0
390,237
93,196
10,629
0
0
20,437
101,022
1,193
28,164
48,402
0
23,264
235,045
37,009
198,036
205,686
191,414
0
0
14,272
0
(226,076)
73,554
73,554
0
(299,630)
58,220
(357,850)
0
203,529
198,249
5,280
183,104
139,334
43,770
20,426
38,378
10,807
27,571
21,255
4,231
4,102
(16,928)
1,031
73,554
0
8,421

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(53,460)
1,330
0
0

49,423
1,015
0
0

(22,970)
1,331
0
0

(24,633)
1,249
0
0

233,300
232,237
1,064
212,665
161,720
50,945
20,635
37,929
8,213
29,717
20,823
2,523
2,433
(21,572)
1,169
0
0
8,665

25,112
0
(54,790)
89,997

70,972
0
48,408
43,056

29,502
0
(24,301)
39,392

11,501
0
(25,882)
39,038

(4,186)
192,914
(22,741)
232,083

(20,390)
191,414
(91,513)
228,423

0.22
3.52
16.32
1.16
0.37
95.62
-2.16
-20.32
27.13
-100.99

0.30
3.11
22.38
0.93
0.64
81.63
-3.09
19.55
-28.94
102.87

0.33
1.05
24.87
1.14
0.52
91.22
-2.66
-8.95
16.51
-45.72

0.26
0.69
25.43
0.95
0.59
91.09
-2.41
-9.34
14.29
-120.15

0.27
1.08
26.88
1.00
0.46
91.16
-2.12
-8.71
10.96
-589.78

0.21
2.08
23.78
0.95
0.43
89.96
-1.95
-7.55
7.80
137.76
-0.24
7.23
-3.13
-8.32
0.02
-2.44
-30.74

56,066

38,634

47,460

45,143

10,552

7,175

3,174

1,725

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

279

14.42

14.40

14.21

6.34

9.21
-7.87
-9.25
0.02
-3.09
-28.29

-17.84
0.00
-7.45
-30.30

21.44
0.00
6.58
-16.14

-7.58
0.00
-3.30
-21.68

-9.88
0.00
-3.52
-25.20

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,090,510

1,136,023

1,211,452

1,175,067

1,324,910
1,090,510
28,322
0

1,415,216
1,136,023
45,973
0

1,546,502
1,211,452
57,771
0

1,572,676
1,175,067
63,357
0

328,757
126,280
67,379
108,753
0
26,345
319,460
58,942
260,518
553,757

315,966
93,361
66,871
121,462
0
34,272
916,480
5,032
911,448
176,471

437,330
135,168
123,055
128,771
0
50,336
1,244,691
98,344
1,146,347
144,195

517,350
49,647
210,677
147,171
0
109,855
1,324,507
70,475
1,254,032
106,848

553,757
546,050
884,724
884,724
0
(338,674)

176,471
359,038
1,105,905
1,105,905
0
(746,867)

144,195
259,896
1,105,905
1,105,905
0
(846,009)

106,848
261,062
1,105,905
1,105,905
0
(844,843)

573,646
573,646
0
572,940

612,904
612,904
0
634,190

711,436
706,864
4,572
692,600

1,121,549
1,106,166
15,383
970,253

706
225,625

(21,286)
58,806

18,836
59,721

151,296
66,639

(Thousand Rupees)
2009
2010
1,181,700
89,439
1,537,318
1,074,138
66,019
0
0
18,123
493,032
2,722
180,235
208,223
0
101,852
430,664
291,409
139,255
1,129,723
126,993
983,026
0
19,704
0
114,344
1,105,905
1,105,905
0
(991,561)
0
(991,561)
0

1,135,977
78,295
1,560,696
1,030,470
67,711
0
0
27,213
558,663
3,892
202,372
196,424
0
155,975
516,060
404,438
111,622
1,059,668
29,772
1,005,085
0
24,811
0
118,913
1,105,905
1,105,905
0
(986,993)
0
(986,993)
0
1,742,804
1,736,956
5,849
1,562,063
1,339,736
222,327
180,741
98,767
50,405
48,362
72,013
51,710
47,707
13,458
8,714
0
0
7,094

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(276,697)
2,852
0
0

(117,101)
3,049
0
0

(93,943)
5,019
0
0

27,851
5,435
0
0

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
(146,560)
0
0
0
(359,393)

1,099,807
0
(279,549)
58,942

535,509
0
(120,150)
5,032

404,091
0
(98,962)
98,344

367,910
0
22,416
70,475

1,244,067
126,993
(146,560)
418,402

1,178,581
29,772
4,744
434,210

0.74
9.27
18.96
0.40
1.03
99.88
1.60
-19.52
-60.49
-27.55

0.23
9.95
19.82
0.42
0.34
103.47
3.04
-8.16
-25.88
-14.32

0.21
7.90
18.10
0.43
0.35
97.35
5.34
-6.06
-30.36
-20.00

0.15
6.12
13.12
0.66
0.39
86.51
5.48
1.67
10.69
7.22

0.49
6.36
15.05
0.83
1.14
92.71
13.65
-8.71
-78.08
-18.18

0.39
2.97
11.27
1.03
1.08
89.63
13.25
0.80
11.54
1.11

225,625

58,806

59,721

66,639

53,196

60,980

56,225

68,593

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

280

8.51

9.17

5.78

5.32

7.68
-0.75
-10.59
-0.23
-1.33
1.03

8.61
1.28
0.77
0.00
0.04
1.08

-48.23
0.00
-1.58
3.09

-19.11
0.00
-1.09
3.25

-13.20
0.00
-0.45
1.18

2.48
0.00
0.10
1.18

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

139,341

202,755

305,666

348,244

333,000
139,341
14,592
0

411,248
202,755
20,843
0

538,654
305,666
27,546
0

616,587
348,244
40,561
0

310,930
2,071
91,667
143,794
0
73,398
215,636
65,798
149,838
0

315,261
2,917
81,316
139,983
0
91,045
257,776
57,654
200,122
0

347,114
3,967
151,489
131,530
0
60,128
317,469
56,383
261,086
33,333

471,503
3,217
185,047
19,749
0
263,490
458,247
148,723
309,524
16,666

0
234,635
100,000
100,000
0
134,635

0
260,240
100,000
100,000
0
160,240

33,333
301,978
100,000
100,000
0
201,978

16,666
344,834
100,000
100,000
0
244,834

721,196
721,196
0
506,691

834,308
834,308
0
588,265

991,011
991,011
0
688,229

1,217,523
1,217,523
0
868,751

214,505
153,256

246,043
169,666

302,782
207,866

348,772
248,959

(Thousand Rupees)
2009
2010
332,082
5,139
640,546
321,558
53,892
0
0
5,385
478,726
2,660
216,862
172,449
0
86,755
429,112
150,490
278,622
37,731
0
0
0
0
37,731
343,965
100,000
100,000
0
243,965
0
243,965
0

314,853
9,581
665,041
298,736
58,712
0
0
6,536
487,360
3,371
257,987
141,556
0
84,446
376,233
132,507
243,726
31,162
0
0
0
0
31,162
394,818
100,000
100,000
0
294,818
0
294,818
0
1,446,477
1,446,477
0
1,051,287
565,941
485,346
395,190
291,780
203,404
88,376
277,615
19,963
19,897
102,981
45,336
0
0
70,777

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

63,728
20,906
20,000
0

77,727
11,737
22,500
0

100,218
33,752
25,000
0

100,865
11,615
25,000
0

1,236,300
1,236,300
0
922,723
469,790
452,933
313,577
262,183
172,792
89,391
238,912
28,173
27,679
39,534
22,391
15,000
0
69,752

234,635
0
22,822
65,798

260,240
0
43,490
57,654

335,311
0
41,466
56,383

361,500
0
64,250
148,723

381,696
0
2,143
150,490

425,980
0
57,645
132,507

0.68
0.15
19.94
1.60
1.44
70.26
0.92
16.06
30.04
30.04
2.14
7.87

0.55
0.78
16.78
1.61
1.22
70.51
0.99
16.05
31.41
31.41
2.93
10.26

0.43
0.87
13.27
1.52
1.09
69.45
1.16
17.12
35.65
33.66
2.66
6.54

0.05
0.63
1.62
1.49
1.03
71.35
1.38
13.70
31.19
28.95
3.57
6.58

0.41
2.28
13.95
1.52
1.12
74.64
1.36
4.85
11.48
10.64
1.14
5.70
2.43
3.20
0.15
1.71
34.40

0.39
1.38
9.79
1.80
1.30
72.68
1.03
12.77
27.88
25.50

153,256

169,666

207,866

248,959

1,056

6,545

8,658

7,699

G.Miscellaneous
1.Total capital employed (E+D
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

281

8.84
0.00
4.28
23.46

9.32
0.00
6.60
26.02

10.11
0.00
6.65
30.20

8.28
0.00
8.93
34.48

5.61
6.18
7.12
0.17
5.76
39.48

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

19,857

19,857

26,322

43,887

104,178
19,857
3,987
0

104,178
19,857
3,987
0

115,025
26,322
3,366
0

111,092
43,887
3,982
0

267,225
8,806
185,970
29,259
0
43,190
148,412
70,000
78,412
0

267,225
8,806
185,970
29,256
0
43,193
148,412
70,000
78,412
0

249,732
15,452
123,377
63,370
0
47,533
139,227
92,400
46,827
0

294,037
28,592
164,273
75,064
0
26,108
151,014
120,000
31,014
0

0
138,670
32,186
32,186
0
106,484

0
138,670
32,186
32,186
0
106,484

0
136,827
35,405
35,405
0
101,422

0
186,910
42,486
42,486
0
144,424

443,139
167,127
276,012
375,942

443,139
167,127
276,012
375,942

619,382
196,994
422,388
555,076

792,845
234,282
558,563
694,077

67,197
32,654

67,197
32,654

64,306
36,212

98,768
56,085

(Thousand Rupees)
2009
2010
50,156
4,425
116,551
44,955
5,938
0
0
776
404,237
10,406
300,188
52,810
0
40,833
279,104
230,462
48,642
0
0
0
0
0
0
175,289
42,486
42,486
0
132,803
17,553
115,250
0

50,671
710
124,587
49,185
6,974
0
0
776
267,509
17,944
142,891
76,606
0
30,068
196,975
165,000
31,975
0
0
0
0
0
0
121,205
42,486
42,486
0
78,719
17,553
61,166
0
734,117
178,677
555,440
710,978
495,992
214,986
23,139
47,079
20,434
26,645
43,361
20,211
2,856
(42,426)
7,409
0
0
103,123

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

29,342
6,300
11,705
2,926

29,342
6,300
0
0

20,699
7,363
7,081
0

40,501
9,018
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
(90,249)

138,670
0
11,337
70,000

138,670
0
23,042
70,000

136,827
0
6,255
92,400

186,910
0
31,483
120,000

175,289
0
1,822
230,462

121,205
0
(49,835)
165,000

0.26
1.22
6.60
1.54
1.80
84.84
1.07
10.18
22.04
22.04
1.97
2.38

0.26
1.22
6.60
1.54
1.80
84.84
1.07
10.22
21.16
21.16

0.57
1.80
10.23
2.24
1.79
89.62
1.02
7.35
15.03
15.03
1.88
5.02

0.69
2.02
9.47
2.35
1.95
87.54
0.81
13.19
25.02
25.02

0.23
2.30
9.31
1.25
1.45
88.13
1.59
2.71
5.92
5.92
1.43
1.89
8.77
1.89
-0.32
1.43
41.26

0.48
2.75
10.44
2.31
1.36
96.85
1.63
-10.98
-28.62
-28.62

32,654

32,654

36,212

56,085

5,398

5,398

11,174

15,999

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

282

2.38

4.83

6.62
0.00
7.16
43.08

6.62
0.00
7.16
43.08

3.34
0.00
3.77
38.65

5.11
0.00
7.41
43.99

5.14
-13.86
-5.78
0.52
-11.73
28.53

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

499,919

198,556

490,333

487,267

382,764
364,832
4,508
135,087

85,456
63,468
4,057
135,088

379,248
355,245
3,611
135,088

379,161
352,179
3,090
135,088

9,828
664
2,110
5,606
0
1,448
537,172
15,000
522,172
0

307,256
276
1,718
0
0
305,262
457,492
50,514
406,978
0

8,553
223
898
6,122
0
1,310
315,906
51,007
264,899
0

2,685
52
436
1,492
0
705
229,988
47,991
181,997
0

0
(27,425)
49,860
49,860
0
(77,285)

0
48,320
149,580
149,580
0
(101,260)

0
182,980
149,580
149,580
0
33,400

0
259,964
149,580
149,580
0
110,384

13,779
13,779
0
19,649

15,732
15,732
0
25,273

16,374
16,374
0
22,978

12,116
12,116
0
17,592

(5,870)
8,028

(9,541)
5,472

(6,604)
5,543

(5,476)
9,126

(Thousand Rupees)
2009
2010
187,795
0
65,735
56,928
2,778
0
0
130,867
4,510
46
785
2,249
0
1,430
243,809
47,991
195,818
158
0
0
0
158
0
(51,662)
149,580
149,580
0
(368,961)
0
(368,961)
167,719

173,602
0
65,854
53,736
3,312
0
0
119,866
6,740
225
959
3,303
0
2,254
253,852
47,991
205,861
162
0
0
0
162
0
(73,672)
149,580
149,580
0
(378,352)
0
(378,352)
155,100
5,748
5,748
0
25,221
2,987
22,234
(19,473)
5,124
1,760
3,364
3,009
7,277
7,239
(20,910)
1,100
0
0
(12,157)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(36,384)
62
0
0

(23,662)
55
0
0

(19,093)
61
0
0

77,025
40
0
0

3,751
3,751
0
25,808
1,987
23,821
(22,057)
4,433
1,343
3,091
2,112
7,293
7,239
(19,934)
414
0
0
(218)

(27,425)
0
(36,446)
15,000

48,320
0
(23,717)
50,514

182,980
0
(19,154)
51,007

259,964
0
76,985
47,991

(51,505)
0
(20,348)
47,991

(73,510)
0
(22,010)
47,991

0.01
210.21
40.69
0.03
0.02
142.60
-19.59
-6.65
404.24
404.24

0.00
179.20
0.00
0.03
0.67
160.65
9.47
-4.66
-226.48
-226.48

0.02
44.34
37.39
0.03
0.03
140.33
1.73
-3.80
-16.51
-16.51

0.01
60.27
12.31
0.02
0.01
145.20
0.88
15.58
34.78
34.78

0.01
194.43
59.96
0.02
0.02
688.03
-4.72
-5.84
-19.14
-19.13

0.01
126.59
57.45
0.03
0.03
438.76
-3.45
-11.22
33.37
33.45

8,028

5,472

5,543

9,126

28,965

28,191

7,261

7,302

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

283

6.53

9.16

18.23

27.79

4.78
-1.75
-531.45
0.00
-1.36
-3.45

6.00
-1.89
-363.76
-0.05
-1.47
-4.93

-264.05
0.00
-7.31
-5.50

-150.41
0.00
-1.59
3.23

-116.61
0.00
-1.28
12.23

635.73
0.00
5.15
17.38

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

632,195

702,001

792,008

1,195,978

1,315,197
632,195
58,263
0

1,419,819
702,001
68,558
0

1,597,554
791,082
95,351
926

2,092,519
1,195,249
105,477
729

1,489,014
6,234
1,073,968
83,364
0
325,448
1,154,745
556,396
598,349
62,500

1,286,001
3,879
797,286
147,093
0
337,743
871,861
267,256
604,605
0

1,636,045
2,102
1,077,021
137,920
0
419,002
1,313,929
542,185
771,744
0

1,788,377
2,186
1,104,944
151,951
0
529,296
1,867,743
872,512
995,231
0

62,500
903,964
96,448
96,448
0
807,516

0
1,116,141
96,448
96,448
0
1,019,693

0
1,114,124
96,448
96,448
0
1,017,676

0
1,116,612
96,448
96,448
0
1,020,164

3,684,000
3,684,000
0
2,519,802

4,150,225
4,122,612
27,613
2,885,883

4,203,627
4,190,221
13,406
3,117,555

4,676,542
4,648,737
27,805
3,620,719

1,164,198
719,876

1,264,342
851,171

1,086,072
872,326

1,055,823
937,154

(Thousand Rupees)
2009
2010
1,401,888
618,974
1,779,908
774,373
129,228
114
0
8,427
2,037,205
2,286
1,136,737
345,808
0
552,374
2,075,329
1,367,818
707,511
71,315
7,233
0
0
0
64,082
1,292,449
96,448
96,448
0
1,196,001
55,548
1,140,453
0

1,424,415
119,808
2,369,446
1,289,113
174,530
339
0
15,155
1,924,012
2,110
1,148,158
156,547
0
617,197
1,368,817
366,065
1,002,752
518,207
380,008
0
0
0
138,199
1,461,403
96,448
96,448
0
1,364,955
74,176
1,290,779
0
6,158,295
6,097,220
61,075
4,404,751
2,712,774
1,691,977
1,753,544
1,324,082
1,094,063
230,019
724,745
130,041
125,710
401,641
86,526
96,448
0
880,332

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

401,359
140,124
83,909
0

355,568
111,892
68,478
0

126,085
35,395
42,437
0

84,365
47,414
13,503
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
(233,212)

966,464
0
177,326
556,396

1,116,141
0
175,198
267,256

1,114,124
0
48,253
542,185

1,116,612
0
23,448
872,512

1,363,764
7,233
89,837
1,375,051

1,979,610
380,008
218,667
746,073

0.08
1.65
2.26
1.74
1.29
68.40
1.35
22.27
50.84
43.89
3.11
3.43

0.17
1.83
3.54
2.09
1.48
69.54
0.78
17.31
35.20
34.15
3.56
5.21

0.11
2.60
3.28
1.73
1.25
74.16
1.18
5.71
11.31
11.31
2.14
3.90

0.08
1.86
3.25
1.57
0.96
77.42
1.67
3.12
7.56
7.56
2.74
4.23

0.17
1.95
5.14
1.96
0.98
75.82
1.66
7.88
21.01
20.40
2.33
5.92
3.06
3.76
-0.11
16.31
134.00

0.12
2.11
2.54
1.84
1.41
71.53
1.29
11.83
29.17
24.03
3.27
5.36
4.19
6.52
0.47
32.67
151.52

719,876

851,171

872,326

937,154

60,931

75,928

109,299

87,113

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

284

10.89
0.00
27.09
93.73

8.57
0.00
25.27
115.72

3.00
0.00
9.40
115.52

1.80
0.00
3.83
115.77

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

40,925

37,103

37,618

33,007

112,614
40,925
5,296
0

113,370
37,103
4,619
0

117,691
37,618
5,283
0

117,367
33,007
4,505
0

113,414
762
42,788
52,774
0
17,090
64,812
53,845
10,967
2,562

116,454
3,052
40,387
0
0
73,015
64,529
52,499
12,030
1,650

125,545
7,398
38,807
65,758
0
13,582
68,642
55,199
13,443
4,333

131,744
3,032
39,451
73,414
0
15,847
71,618
57,651
13,967
2,380

2,562
86,965
60,000
60,000
0
26,965

1,650
87,378
60,000
60,000
0
27,378

4,333
90,188
60,000
60,000
0
30,188

2,380
90,753
60,000
60,000
0
30,753

103,753
99,377
4,376
81,942

107,089
101,919
5,170
80,307

117,550
114,045
3,505
83,969

125,068
122,301
2,767
94,977

21,811
17,301

26,782
19,039

33,581
21,096

30,091
19,862

(Thousand Rupees)
2009
2010
34,832
0
117,789
31,447
4,448
0
0
3,385
127,161
7,684
28,814
73,623
0
17,040
65,764
50,328
15,436
4,190
4,190
0
0
0
0
92,040
60,000
60,000
0
32,040
30,000
2,040
0

31,112
0
117,764
28,415
3,997
0
0
2,697
131,906
9,362
27,381
76,185
0
18,978
66,105
49,092
17,012
3,119
3,119
0
0
0
0
93,795
60,000
60,000
0
33,795
30,000
3,795
0
139,730
137,270
2,460
107,706
80,795
26,911
32,024
20,832
6,999
13,833
14,907
8,544
8,219
2,855
999
0
0
4,888

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(1,084)
457
0
0

949
535
0
0

4,957
588
1,500
0

2,316
811
0
0

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
10,922

89,527
0
(1,541)
53,845

89,028
0
414
52,499

94,521
0
2,869
55,199

93,133
0
1,505
57,651

96,230
4,190
1,669
54,518

96,913
3,119
1,856
52,211

1.07
6.69
55.94
0.72
1.83
71.43
0.81
3.13
5.58
5.40
2.91
3.03

1.07
6.44
58.70
0.76
1.84
75.94
0.82
1.41
2.56
2.47

1.24
8.06
57.65
0.79
1.93
74.28
0.76
1.57
2.81
2.71

1.29
6.11
54.52
0.86
2.00
77.08
0.74
1.76
3.07
2.96

17,301

19,039

21,096

19,862

5,708

6,844

7,860

8,051

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.83
5.50
50.87
0.67
1.75
78.98
0.77
-0.70
-1.24
-1.20

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

285

0.05
6.39
0.00
0.70
1.80
74.99
0.76
0.62
1.09
1.06

2.42

2.65

3.17

4.43
1.26
2.01
0.16
0.28
15.34

5.10
1.35
2.04
0.07
0.31
15.63

-1.04
0.00
-0.26
14.49

0.89
0.00
0.07
14.56

4.22
0.00
0.73
15.03

1.85
0.00
0.25
15.13

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

713,324

769,655

787,845

670,447

888,155
660,939
68,815
52,385

1,046,677
726,246
77,597
43,409

1,077,199
687,698
89,793
100,147

1,108,374
652,897
86,455
17,550

1,234,642
25,041
216,156
659,677
200,000
133,768
927,966
336,101
591,865
66,625

1,596,338
73,925
239,555
904,224
200,000
178,634
942,956
237,250
705,706
447,586

1,771,538
93,762
385,618
1,067,121
0
225,037
1,175,336
297,465
877,871
335,908

1,626,160
69,274
223,520
988,425
200,000
144,941
963,029
262,650
700,379
210,346

66,625
953,375
200,090
200,090
0
753,285

447,586
975,451
220,099
220,099
0
755,352

335,908
1,048,139
242,109
242,109
0
806,030

210,346
1,123,232
266,320
266,320
0
856,912

2,473,187
2,295,019
178,168
1,813,934

3,240,419
3,064,657
175,762
2,289,437

3,114,570
2,964,947
149,623
2,155,732

3,253,347
3,147,068
106,279
2,287,526

659,253
480,284

950,982
696,434

958,838
763,506

965,821
654,077

(Thousand Rupees)
2009
2010
707,079
0
1,153,939
619,920
96,471
82,393
0
4,766
1,872,052
232,053
384,931
1,043,967
0
211,101
1,011,197
395,818
615,379
205,096
106,065
0
0
25,214
73,817
1,362,838
266,320
266,320
0
866,666
119,513
747,153
229,852

817,866
354
1,355,814
740,195
93,183
69,445
0
7,872
2,334,005
132,808
545,421
1,387,399
0
268,377
1,345,028
496,706
848,322
117,795
22,927
0
0
29,187
65,681
1,689,048
306,268
306,268
0
1,175,297
124,060
1,051,237
207,483
4,154,163
3,871,625
282,538
2,389,703
1,429,952
959,751
1,764,460
1,159,223
992,550
166,673
549,396
112,355
87,656
557,427
194,326
91,880
0
220,118

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

129,495
41,641
0
9,528

193,512
71,785
33,015
22,010

141,577
64,131
24,211
24,211

253,314
81,555
26,632
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
298,583

1,020,000
0
87,854
336,101

1,423,037
0
88,712
237,250

1,384,047
0
53,235
297,465

1,333,578
0
145,127
262,650

1,567,934
106,065
116,272
501,883

1,806,843
22,927
271,221
519,633

0.95
2.25
26.67
1.27
1.33
73.34
1.04
6.65
14.24
12.78

1.25
2.50
27.90
1.37
1.69
70.65
1.43
8.97
20.07
15.84
3.69
13.53

0.99
3.12
34.26
1.22
1.51
69.21
1.44
5.75
13.99
10.09
3.20
8.08

1.31
3.45
30.38
1.42
1.69
70.31
1.04
10.43
23.33
18.64
6.45
14.56

1.26
3.36
33.42
1.21
1.85
61.70
0.89
13.36
26.21
22.45
2.46
8.12
4.75
10.43
0.25
7.37
51.17

1.13
2.70
33.40
1.32
1.74
57.53
0.87
19.45
36.53
33.03
3.95
7.62
7.36
13.42
0.15
11.86
55.15

480,284

696,434

763,506

654,077

55,567

80,865

97,161

112,228

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

11.44

286

5.24
0.00
4.39
47.65

5.97
0.00
5.53
44.32

4.55
0.00
3.20
43.29

7.79
0.00
6.45
42.18

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

36,738

33,673

31,629

29,061

72,642
36,738
3,404
0

72,642
33,673
3,064
0

72,992
31,629
2,827
0

72,992
29,061
2,568
0

193,536
114
13,343
4
14,224
165,851
118,171
73,017
45,154
0

193,456
466
10,785
0
14,225
167,980
94,573
52,593
41,980
0

242,363
114
14,416
557
57,779
169,497
97,712
49,992
47,720
0

256,693
509
7,012
11,605
54,932
182,635
113,224
49,992
63,232
0

0
112,103
120,000
120,000
0
(7,897)

0
132,556
120,000
120,000
0
12,556

0
176,280
120,000
120,000
0
56,280

0
172,530
120,000
120,000
0
52,530

13,142
13,142
0
22,219

5,755
5,755
0
9,871

12,745
12,745
0
12,524

128,624
128,624
0
100,606

(9,077)
1,535

(4,116)
1,299

221
1,992

28,018
16,925

(Thousand Rupees)
2009
2010
114,679
0
72,992
26,738
2,324
0
87,718
224
209,458
613
250
20,480
0
188,115
72,712
49,992
22,721
38,798
0
37,940
0
858
0
212,627
120,000
120,000
0
81,347
0
81,347
11,280

125,183
0
72,992
24,632
2,106
0
100,327
224
213,482
1,159
651
14,867
0
196,805
72,175
49,992
22,184
39,032
0
37,940
0
1,092
0
227,457
120,000
120,000
0
97,083
0
97,083
10,374
136,894
136,894
0
97,799
90,246
7,553
39,095
36,158
24,897
11,261
8,998
33
0
16,652
684
120,000
0
546

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

34,089
62
0
0

17,396
31
0
0

1,827
92
0
0

11,103
643
0
0

125,501
125,501
0
105,636
95,470
10,166
19,865
12,528
3,573
8,956
8,848
30
0
40,831
0
0
0
262

112,103
0
34,027
73,017

132,556
0
17,365
52,593

176,280
0
1,735
49,992

172,530
0
10,460
49,992

251,424
0
40,831
49,992

266,489
0
(104,033)
49,992

0.12
25.89
0.03
0.06
1.64
169.07
1.05
14.36
39.80
39.80

0.16
5.33
0.00
0.03
2.05
171.52
0.71
7.61
14.22
14.22

0.60
0.51
4.37
0.05
2.48
98.27
0.55
0.73
1.18
1.18

0.59
0.05
9.02
0.45
2.27
78.22
0.66
3.97
6.37
6.37

0.29
0.02
16.32
0.39
2.88
84.17
0.52
13.39
21.20
19.26

0.22
0.02
10.86
0.40
2.96
71.44
0.49
5.02
7.57
6.43
0.13
210.42

1,535

1,299

1,992

16,925

3,403

307

65

70

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.98

0.53

0.88

18.34

501.54

259.39
0.00
2.84
9.34

302.28
0.00
1.45
11.05

14.34
0.00
0.14
14.69

8.63
0.00
0.87
14.38

32.53
0.00
3.40
17.72

12.16
0.00
1.33
18.95

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,442,688

3,454,742

4,220,212

4,824,079

3,693,866
2,442,688
147,819
0

4,858,301
3,454,742
156,949
0

5,864,276
4,220,212
260,033
0

6,684,164
4,824,079
416,078
0

1,179,521
81,447
319,146
247,078
17,719
514,131
1,477,592
239,723
1,237,869
649,949

1,915,733
400,982
407,042
353,050
15,384
739,275
2,249,002
899,457
1,349,545
1,463,581

2,164,359
252,695
441,676
561,087
82,795
826,106
2,596,401
222,628
2,373,773
1,865,953

3,969,314
240,943
526,916
563,788
1,352,350
1,285,317
3,453,388
268,280
3,185,108
1,797,673

122,400

1,108,874

1,646,875

527,549
1,494,668
185,536
185,536
0
1,309,132

354,707
1,657,892
185,586
185,586
0
1,472,306

219,078
1,922,217
185,536
185,536
0
1,736,681

1,797,673
3,542,332
204,090
204,090
0
3,338,242

4,584,379
4,488,411
95,968
3,683,992

4,383,298
4,383,298
0
3,678,180

5,043,078
4,989,739
53,339
3,958,698

6,355,398
6,292,239
63,159
4,800,113

900,387
292,397

705,118
333,290

1,084,380
259,512

1,555,285
330,701

(Thousand Rupees)
2009
2010
7,970,083
286,017
7,116,722
4,851,602
412,745
0
2,782,841
49,623
2,143,328
294,165
773,762
663,921
0
411,481
2,343,211
540,091
1,803,120
3,801,664
2,785,752
0
0
5,206
1,010,706
3,968,537
204,090
204,090
0
2,757,899
86,770
2,671,130
1,006,548

8,530,981
186,189
8,157,033
5,489,389
435,158
0
2,810,097
45,306
1,779,477
142,970
502,292
433,457
0
700,758
2,128,504
1,447,808
680,696
3,876,984
2,735,240
0
0
6,713
1,135,031
4,304,971
204,090
204,090
0
3,156,262
113,554
3,042,708
944,619
5,735,795
5,680,652
55,144
4,197,071
1,138,194
3,058,877
1,538,725
346,044
62,952
283,092
361,890
600,871
591,482
609,962
86,362
51,022
10,204
267,998

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

487,705
132,676
148,429
0

358,222
1,013
111,322
0

536,916
21,874
102,044
18,537

919,300
320,947
153,068
0

6,178,399
6,103,027
75,372
4,216,644
1,291,999
2,924,645
1,961,755
387,555
68,292
319,263
393,100
604,981
596,474
987,894
303,228
153,067
0
359,439

2,144,617
122,400
206,600
362,123

3,121,473
1,108,874
245,887
2,008,331

3,788,170
1,646,875
412,998
1,869,503

5,340,005
0
445,285
268,280

7,770,201
2,785,752
531,599
3,325,843

8,181,954
2,735,240
472,577
4,183,048

0.23
2.82
5.39
1.27
0.80
80.36
1.42
14.62
35.61
26.46
2.39
14.36

0.34
0.54
8.05
0.82
0.85
83.91
2.24
7.97
22.73
13.60
3.21
10.77

0.35
6.30
11.13
0.79
0.83
78.50
2.32
9.14
29.99
15.54
5.05
11.42

0.62
5.79
8.87
0.72
1.15
75.53
1.48
12.11
33.65
20.14
3.91
12.06

0.41
9.79
10.75
0.61
0.91
68.25
1.55
10.45
26.31
15.07
4.47
7.98
2.66
15.99
0.06
33.55
194.45

0.27
10.48
7.56
0.56
0.84
73.17
1.40
5.97
14.74
7.65
10.26
11.42
2.03
10.63
0.04
25.66
210.94

292,397

333,290

259,512

330,701

129,374

23,453

317,624

368,095

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

288

10.64
0.00
19.14
80.56

8.17
0.00
19.25
89.33

10.65
0.00
27.76
103.60

14.46
0.00
29.32
173.57

Financial Statement Analysis of Non Financial Sector 2010

Sitara Peroxide Limited

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,394,479
157,666
2,384,410
2,228,698
105,239
0
0
8,115
572,625
6,670
343,495
48,651
0
173,809
725,797
523,365
202,432
1,321,594
1,223,175
0
0
932
97,487
919,713
551,000
551,000
0
(181,635)
0
(181,635)
550,348

2,263,653
7,375
2,567,467
2,252,573
161,391
0
0
3,705
484,126
4,335
254,687
56,154
0
168,950
651,597
434,487
217,110
1,355,614
1,353,196
0
0
2,419
0
740,568
551,000
551,000
0
(331,308)
0
(331,308)
520,875

628,523
622,727
5,796
525,874
157,277
368,598
102,648
44,762
13,131
31,631
38,183
245,934
237,349
(188,047)
41
0
0
(234,448)

727,018
718,948
8,070
694,248
119,003
575,245
32,770
61,867
25,146
36,721
49,572
243,270
240,524
(272,888)
3,744
551,000
0
(10,446)

2,241,307
1,223,175
(188,088)
1,746,540

2,096,182
1,353,196
(827,632)
1,787,683

0.08
39.13
7.74
0.21
0.79
83.67
2.23
-6.34
-20.45
-8.39

0.09
33.46
7.72
0.26
0.74
95.49
2.71
-9.55
-32.87
-12.58
-0.50
2.85
-0.13
-37.54
-0.01
-5.02
13.44

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

289

1.83
0.21
-29.92
-0.11
-3.41
16.69

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

11,002

12,862

32,338

39,574

29,929
11,002
3,859
0

31,802
12,862
4,791
0

53,712
32,338
1,589
0

65,087
39,574
8,924
0

172,462
7,879
35,031
2,464
26,394
100,694
77,151
2,277
74,874
2,147

235,630
5,776
92,014
3,644
26,394
107,802
151,490
27,431
124,059
4,189

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

2,147
104,166
66,000
66,000
0
38,166

4,189
92,813
72,600
72,600
0
20,213

13,767
95,662
72,600
72,600
0
23,062

7,113
131,524
72,600
72,600
0
58,924

81,389
81,389
0
60,174

130,764
130,764
0
110,197

311,096
311,096
0
252,114

656,785
656,785
0
542,075

21,215
50,112

20,567
60,849

58,982
87,419

114,710
129,481

(Thousand Rupees)
2009
2010
278,101
0
65,087
82,305
13,490
0
191,319
4,477
435,307
29,883
353,480
3,218
0
48,726
450,178
24,197
425,981
53,461
37,805
0
0
3,471
12,185
209,769
83,490
83,490
0
126,279
0
126,279
0

347,692
0
167,056
117,010
23,115
0
224,408
6,274
587,591
46,321
453,228
20,687
0
67,355
702,518
122,188
580,330
62,749
39,279
0
0
5,494
17,976
170,016
91,839
91,839
0
78,177
0
78,177
0
1,143,401
1,143,401
0
928,826
741,931
186,895
214,575
286,093
261,109
24,984
106,979
41,191
14,726
(19,212)
5,717
0
0
(21,184)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,293
344
0
0

(11,341)
60
0
0

3,547
1,372
0
0

22,307
3,998
0
10,890

773,324
773,324
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

106,313
0
1,949
2,277

97,002
0
(11,401)
27,431

109,429
0
2,175
26,484

138,637
0
18,309
48,083

263,230
37,805
66,609
62,002

232,765
39,279
(24,929)
161,467

0.48
2.40
3.03
0.44
2.24
73.93
0.76
1.18
2.20
2.13

0.24
3.28
2.79
0.53
1.56
84.27
1.68
-5.25
-11.51
-11.16

0.24
3.31
4.87
0.95
1.36
81.04
2.41
1.23
3.76
3.44

0.42
1.87
0.66
1.29
1.27
82.53
2.88
5.33
19.64
17.98

0.07
2.56
0.42
1.08
0.97
75.77
2.40
13.82
49.57
42.10
8.98
2.19
15.55
10.94
0.14
8.98
25.13

0.10
3.60
1.81
1.22
0.84
81.23
4.50
-2.33
-10.12
-7.75

50,112

60,849

87,419

129,481

1,956

4,283

10,304

12,254

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

290

2.32

1.42

2.42

2.42

2.82
0.00
0.30
15.78

-8.67
0.00
-1.57
12.78

1.14
0.00
0.30
13.18

3.40
0.00
2.52
18.12

2.52
-0.30
-1.68
-0.03
-2.71
18.51

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

128,062

122,532

117,470

109,852

218,840
128,062
7,506
0

219,717
122,532
6,426
0

221,748
117,470
6,278
0

222,933
109,852
7,420
0

275,036
13,418
49,237
137,815
25,000
49,566
158,969
102,690
56,279
37,500

290,177
8,854
46,329
144,388
25,000
65,606
180,909
99,986
80,923
18,750

308,866
30,576
57,345
157,117
25,703
38,125
211,209
104,434
106,775
0

460,246
9,405
117,445
247,918
31,405
54,073
270,978
87,091
183,887
0

37,500
206,629
75,000
75,000
0
131,629

18,750
213,050
90,000
90,000
0
123,050

0
215,127
90,000
90,000
0
125,127

0
299,120
90,000
90,000
0
209,120

572,064
572,064
0
498,629

643,584
643,584
0
565,477

571,528
571,528
0
490,393

810,196
810,196
0
588,474

73,435
28,761

78,107
34,120

81,135
37,123

221,722
64,229

(Thousand Rupees)
2009
2010
142,618
0
109,852
110,111
6,500
0
32,507
0
399,766
18,653
50,339
283,805
2,647
44,322
176,566
60,537
116,029
14,693
0
0
0
0
14,693
351,126
90,000
90,000
0
261,126
944
260,182
0

138,315
0
229,758
105,209
8,069
0
33,106
0
358,411
24,373
51,423
241,500
2,671
38,444
103,584
662
102,922
11,025
0
0
0
0
11,025
382,117
90,000
90,000
0
292,117
944
291,173
0
712,677
712,677
0
527,201
455,321
71,880
185,476
66,879
37,364
29,516
43,746
7,198
6,606
117,003
44,798
45,000
0
113,486

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

40,213
2,874
26,250
0

34,747
6,700
18,000
0

29,503
12,257
18,000
0

152,514
0
45,000
0

715,258
715,258
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
89,676

244,129
0
11,089
102,690

231,800
0
10,047
99,986

215,127
0
(754)
104,434

299,120
0
107,514
87,091

365,819
0
49,260
60,537

393,142
0
27,205
662

1.11
1.85
24.09
1.42
1.73
87.16
0.95
10.13
20.71
16.68
1.42
11.62

0.99
2.23
22.43
1.56
1.60
87.86
0.94
8.52
16.56
14.60
1.56
13.89

1.01
3.01
27.49
1.34
1.46
85.80
0.98
7.03
13.78
13.20
0.96
9.97

1.07
1.70
30.60
1.42
1.70
72.63
0.91
30.61
59.32
59.32
3.39
6.90

1.73
2.75
39.68
1.32
2.26
68.52
0.54
26.26
44.92
43.93
2.09
14.21
9.01
20.42
0.47
10.47
39.01

2.59
1.01
33.89
1.43
3.46
73.97
0.30
22.52
31.91
30.83
1.60
13.86
18.71
16.42
0.99
8.02
42.46

28,761

34,120

37,123

64,229

10,569

14,325

17,203

13,737

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

291

7.03
0.00
4.98
27.55

5.40
0.00
3.12
23.67

5.16
0.00
1.92
23.90

18.82
0.00
16.95
33.24

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

174,000

179,707

217,458

226,632

378,501
174,000
21,012
0

402,804
179,707
22,631
0

455,508
217,458
25,207
0

466,652
226,632
33,956
0

1,245,588
397,411
498,684
71,915
0
277,578
342,705
1,010
341,695
0

1,507,341
25,506
610,803
109,399
575,000
186,633
409,001
0
409,001
0

1,607,276
51,993
563,189
138,572
720,000
133,522
413,281
0
413,281
0

1,282,920
50,911
756,391
242,804
87,000
145,814
378,700
0
378,700
0

0
1,076,883
142,161
142,161
0
934,722

0
1,278,047
142,161
142,161
0
1,135,886

0
1,411,453
142,161
142,161
0
1,269,292

0
1,130,852
142,161
142,161
0
988,691

1,885,901
1,731,707
154,194
1,221,859

2,013,481
1,842,389
171,092
1,256,376

2,170,192
2,005,672
164,520
1,434,932

2,490,972
2,318,685
172,287
1,786,322

664,042
374,761

757,105
425,537

735,260
447,382

704,650
541,244

(Thousand Rupees)
2009
2010
193,721
0
391,738
179,681
33,537
0
0
14,040
1,258,573
35,648
800,768
277,447
0
144,710
464,793
0
464,793
5,238
0
0
0
0
5,238
982,263
142,161
142,161
0
840,102
0
840,102
0

161,701
159
395,728
144,728
39,261
0
0
16,814
1,391,209
241,928
828,388
50,431
0
270,462
544,087
0
544,087
0
0
0
0
0
0
1,008,823
142,161
142,161
0
866,662
0
866,662
0
2,310,191
2,182,251
127,940
1,829,653
984,031
845,622
480,538
454,274
340,214
114,060
370,596
3,014
0
43,229
28,439
14,216
0
210,669
1,008,823
0
574
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

327,109
95,474
71,022
0

392,145
119,180
92,405
0

359,067
98,964
107,189
0

229,089
80,702
355,402
0

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
(31,593)
58,083
0
0
(12,768)

1,076,883
0
160,613
1,010

1,278,047
0
180,560
0

1,411,453
0
152,914
0

1,130,852
0
(207,015)
0

987,501
0
(89,676)
0

1.37
0.09
3.81
1.33
3.63
64.79
0.32
26.02
34.31
34.26
3.26
3.78

1.74
0.04
5.43
1.19
3.69
62.40
0.32
25.25
33.30
33.30
2.95
3.30

2.20
0.04
6.39
1.19
3.89
66.12
0.29
20.45
26.70
26.70
2.43
3.85

1.01
0.04
9.75
1.65
3.39
71.71
0.33
13.74
18.02
18.02
0.42
3.29

0.67
0.16
12.03
1.59
2.71
78.27
0.48
-2.13
-2.99
-2.98

374,761

425,537

447,382

541,244

1,611

845

861

1,106

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

292

2.88

0.54
0.13
2.18
1.49
2.56
79.20
0.54
2.88
4.34
4.33
1.04
2.79

17.34
0.00
162.94
757.51

19.48
0.00
192.01
899.01

16.55
0.00
182.96
992.86

9.20
0.00
104.38
795.47

-1.37
-0.03
-6.31
69.10

1.87
0.39
1.04
70.96

OTHER MANUFACTURING N.E.S.

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

18,521,554

21,856,012

27,342,336

30,352,045

29,123,472
18,367,261
2,321,857
154,293

34,557,280
21,780,621
1,983,887
75,391

41,982,867
27,329,814
2,326,237
12,522

46,252,398
30,321,942
2,461,279
30,103

25,415,945
2,379,746
12,411,942
4,483,265
2,356,821
3,784,171
19,350,112
7,203,811
12,146,301
6,558,211

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

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

40,706,183
1,454,147
23,360,531
5,437,920
3,460,003
6,993,582
33,893,368
13,531,866
20,361,502
7,563,573

221,854

147,753

73,652

6,336,357
18,029,176
6,602,154
6,602,154
0
11,427,022

6,185,271
21,561,342
7,475,247
7,475,247
0
14,086,095

7,340,130
27,517,756
7,912,226
7,912,226
0
19,605,530

7,563,573
29,601,287
8,236,856
8,236,856
0
21,364,431

88,470,028
84,617,189
3,852,839
74,352,719

96,855,704
92,582,947
4,272,757
80,319,341

112,011,012
107,262,058
4,748,954
92,607,022

133,815,977
127,396,203
6,419,774
111,918,877

14,117,309
7,413,993

16,536,363
8,258,867

19,403,990
9,191,426

21,897,100
11,425,344

(Thousand Rupees)
2009
2010
41,947,656
5,291,886
51,333,903
33,029,624
2,704,966
61,138
2,122,425
1,442,583
40,842,467
2,977,675
24,733,741
6,122,209
1,184,379
5,824,463
33,208,101
2,025,468
31,182,633
11,674,616
1,175,155
0
0
13,559
10,485,902
37,161,691
9,285,477
9,271,236
14,241
19,251,399
268,145
18,339,624
8,624,815

55,677,281
9,207,560
63,087,208
41,360,200
3,356,843
84,949
3,169,094
1,855,478
53,775,504
2,881,632
33,729,185
7,770,959
1,456,582
7,937,146
44,404,204
2,681,675
41,722,529
15,486,892
2,021,120
0
0
15,185
13,450,587
48,815,975
10,202,057
10,130,655
71,402
26,753,089
481,265
25,608,751
11,860,829
124,778,831
116,436,244
8,342,587
98,022,901
67,486,939
30,535,962
26,755,930
17,030,415
10,122,155
6,908,260
10,010,049
2,238,935
1,691,452
9,315,496
3,169,467
2,857,914
4,513,223
2,113,955

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

6,816,767
2,019,381
1,646,034
308,385

7,969,948
2,238,205
3,292,016
447,849

10,176,890
2,671,183
2,638,035
238,463

9,668,115
2,793,049
4,110,801
383,165

94,507,197
88,311,701
6,195,496
70,352,065
51,008,823
19,343,242
24,155,132
13,419,585
8,393,937
5,025,648
7,878,314
2,213,131
1,694,143
9,343,543
3,408,652
4,518,990
515,974
10,555,638

24,587,387
221,854
3,151,352
7,425,665

27,894,366
147,753
2,439,727
9,921,584

34,931,538
73,652
4,867,672
10,224,954

37,164,860
0
2,764,265
13,531,866

48,836,306
1,175,155
1,415,901
3,200,623

64,302,867
2,021,120
3,288,115
4,702,795

0.48
0.80
5.07
2.01
1.31
84.04
1.44
16.52
42.27
30.44
2.91
7.13

0.42
1.11
4.43
1.93
1.27
82.93
1.33
16.93
40.26
30.37
1.74
6.59

0.49
1.25
4.89
1.84
1.29
82.68
1.22
18.30
41.47
32.40
2.85
6.82

0.31
1.26
4.06
1.88
1.20
83.64
1.40
14.64
33.85
26.82
1.67
5.73

0.31
2.34
6.48
1.14
1.23
74.44
1.21
12.15
27.99
21.73
1.31
3.82
6.52
9.89
0.24
6.40
40.08

0.27
1.79
6.23
1.14
1.21
78.56
1.23
9.69
21.67
16.47
2.15
3.70
6.51
7.47
0.04
6.07
48.19

7,413,993

8,258,867

9,191,426

11,425,344

705,728

1,079,301

1,404,664

1,688,601

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

295

7.71
0.00
7.27
27.31

8.23
0.00
7.67
28.84

9.09
0.00
9.49
34.78

7.22
0.00
8.47
36.47

Growth with Composition of Assets & Liabilites

60

34%
34%
33%
33%
32%
32%
31%
31%
30%

33.7%

50

32.7%

Billion Rs

40

32.7%

30
31.7%

20

31.4%

10
0
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

Growth
35%

32.0%

140

30%

100

25%

Billion Rs

120

20%

80

15%

60

10.8%

10%

40

5%

20

0%

-0.3%

-5%
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios

25
Percentage

2009

27.99

30

2010
10

9.69

Percentage

10

9.89

Return on
Capital
Emloyed

6.4 6.07

4
2

Return on
Return on
Assets
Equity

2010

8
16.47

12.15

2009

7.47

21.67 21.73

20
15

Net Profit Before Tax

1.23 1.21 1.21 1.23

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

46,446

47,342

50,880

49,380

92,295
46,446
3,750
0

96,645
47,342
3,795
0

104,784
50,880
5,052
0

107,341
49,380
5,139
0

145,181
1,907
56,822
17,022
29,995
39,435
60,710
31,102
29,608
0

164,034
1,913
73,907
20,744
29,995
37,475
78,036
20,544
57,492
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
130,917
100,000
100,000
0
30,917

0
133,340
100,000
100,000
0
33,340

2,743
139,649
100,000
100,000
0
39,649

962
139,778
100,000
100,000
0
39,778

82,328
82,328
0
71,259

179,827
179,827
0
155,645

275,239
275,239
0
238,284

259,718
259,718
0
223,792

11,069
9,302

24,182
20,358

36,955
38,325

35,926
30,812

(Thousand Rupees)
2009
2010
82,369
0
107,340
51,611
4,878
0
29,995
763
198,603
1,262
130,085
33,271
0
33,985
126,451
25,978
100,473
11,370
1,020
0
0
3,892
6,458
143,151
100,000
100,000
0
43,151
25,000
18,151
0

69,197
0
114,081
53,550
5,731
0
14,995
652
224,305
3,159
85,534
74,125
0
61,487
127,389
103,138
24,251
14,455
2,108
0
0
4,660
7,687
151,658
100,000
100,000
0
51,658
25,000
26,658
0
523,685
523,685
0
444,512
391,699
52,813
79,173
71,466
0
71,466
9,711
1,227
875
12,861
3,127
400,000
0
(15,528)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,232
1,831
5,000
0

7,289
1,513
0
0

(2,208)
1,376
0
0

8,679
1,785
10,000
0

232,063
232,063
0
197,492
191,191
6,301
34,571
28,099
0
28,099
4,243
1,975
1,598
9,843
535
400,000
0
23,313

130,917
0
(1,599)
31,102

133,340
0
5,776
20,544

142,392
0
(3,584)
39,779

140,740
0
(3,106)
48,386

154,521
1,020
(390,692)
26,998

166,113
2,108
(390,266)
105,246

0.81
1.01
20.68
0.43
2.39
86.55
0.46
3.02
4.05
4.05
0.68
1.45

0.67
0.64
11.54
0.85
2.10
86.55
0.59
3.62
5.52
5.52

0.54
1.62
10.33
1.08
1.82
86.57
0.82
-0.95
-1.62
-1.60

0.47
0.70
13.29
0.93
1.65
86.17
1.01
3.25
6.21
6.13
0.69
2.11

0.27
0.85
14.34
0.83
1.57
85.10
0.96
3.51
6.96
6.67
0.02
1.78
7.16
4.24
0.17
0.93
14.32

0.61
0.23
14.15
1.78
1.76
84.88
0.94
4.48
8.72
8.02
0.02
6.12
15.70
2.46
-0.11
0.97
15.17

9,302

20,358

38,325

30,812

835

1,156

4,457

1,816

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

297

2.43

2.56

6.36
0.00
0.34
13.09

4.05
0.00
0.58
13.33

-0.80
0.00
-0.36
13.96

3.34
0.00
0.69
13.98

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

283,940

332,726

409,363

548,222

765,346
282,645
39,657
1,295

850,017
332,726
39,007
0

967,934
409,363
39,007
0

1,138,879
548,222
66,134
0

1,081,241
35,048
606,765
317,722
20,467
101,239
679,163
215,766
463,397
0

1,082,005
82,833
716,738
129,434
22,136
130,864
717,168
0
717,168
0

1,463,648
247,713
769,996
243,079
23,848
179,012
899,971
0
899,971
0

1,728,714
88,952
1,274,289
94,518
30,650
240,305
841,241
0
841,241
0

0
686,018
75,600
75,600
0
610,418

(Thousand Rupees)
2009
2010
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

717,753
1,352
1,352,112
629,402
86,593
9,960
37,823
39,216
3,459,297
539,039
1,527,032
22,325
500,000
870,901
1,300,867

1,147,336
122,124

1,300,867
134,883

0
697,563
75,600
75,600
0
621,963

0
973,040
75,600
75,600
0
897,440

0
1,435,695
75,600
75,600
0
1,360,095

0
0
122,124
1,960,727
75,600
75,600
0
1,885,127
483
1,884,644

134,883
2,741,300
75,600
75,600
0
2,665,700
483
2,665,217

2,934,606
2,734,860
199,746
1,997,200

3,309,648
3,118,539
191,109
2,196,827

4,271,888
4,085,708
186,180
2,634,835

5,521,106
5,347,171
173,935
3,356,960

937,406
771,568

1,112,821
920,065

1,637,053
1,114,855

2,164,146
1,486,159

8,329,829
8,206,440
123,389
4,997,901
2,314,351
2,683,550
3,331,928
2,158,219
1,597,220
560,999
989,665
39,735
4,671
1,189,021
317,728
211,680
0
466,528

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

128,535
54,402
34,020
0

166,820
64,712
0
0

503,999
137,302
60,480
0

663,822
173,302
60,480
0

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
227,510
90,720
0
905,457

686,018
0
40,113
215,766

697,563
0
102,108
0

973,040
0
306,217
0

1,435,695
0
430,040
0

2,082,851
0
494,792
0

2,876,183
0
659,613
0

0.55
1.37
10.83
2.15
1.59
68.06
0.99
9.74
19.81
19.81
2.18
4.84

0.33
1.00
3.91
2.34
1.51
66.38
1.03
12.00
24.11
24.11

0.57
0.55
5.69
2.28
1.63
61.68
0.92
30.66
60.34
60.34
6.06
5.55

0.25
0.49
1.71
2.42
2.05
60.80
0.59
31.99
55.12
55.12
8.11
4.33

0.73
0.55
0.37
1.99
2.25
58.43
0.65
29.53
47.88
46.21
6.45
5.01
155.71
12.65
0.71
77.45
259.36

0.82
0.48
0.27
1.99
2.66
60.00
0.52
32.10
50.57
47.95
4.12
5.45
255.55
14.27
0.32
115.25
362.61

771,568

920,065

1,114,855

1,486,159

40,087

33,151

23,394

27,273

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

298

4.62

4.38
0.00
9.81
90.74

5.04
0.00
13.51
92.27

11.80
0.00
48.50
128.71

12.02
0.00
64.88
189.91

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

446,825

1,340,695

1,307,144

1,233,851

1,089,521
441,836
82,598
4,989

2,074,427
1,339,589
97,396
1,106

2,204,695
1,306,641
172,644
503

2,296,279
1,233,231
172,336
620

2,090,247
53,082
194,329
132,037
1,469,804
240,995
467,655
233,496
234,159
236,143

2,374,054
15,758
468,519
75,147
1,312,551
502,079
1,128,737
876,943
251,794
548,314

3,388,922
36,999
633,452
181,408
2,300,465
236,598
1,141,657
620,299
521,358
354,006

3,612,839
8,199
606,059
118,696
2,737,121
142,764
1,684,569
1,306,382
378,187
168,117

221,854

147,753

73,652

14,289
1,833,274
243,027
243,027
0
1,590,247

400,561
2,037,698
349,959
349,959
0
1,687,739

280,354
3,200,403
466,612
466,612
0
2,733,791

168,117
2,994,004
513,273
513,273
0
2,480,731

3,080,171
3,080,171
0
2,708,255

1,859,259
1,859,259
0
1,718,930

3,184,763
3,184,763
0
2,674,299

4,638,189
4,638,189
0
3,741,791

371,916
178,301

140,329
140,506

510,464
272,191

896,398
260,711

(Thousand Rupees)
2009
2010
2,393,484
131,699
2,330,829
1,092,889
174,892
811
1,078,622
89,463
1,772,089
4,144
616,433
83,927
655,397
412,188
1,408,211
902,815
505,396
211,547
55,880

2,766,007
300,778
2,350,072
956,113
169,539
24,457
1,275,538
209,121
2,128,826
182,657
1,026,614
276,880
463,746
178,929
1,744,067
780,288
963,779
71,587
0
0
0
0
71,587
3,079,179
564,600
564,600
0
2,514,579
274,066
2,240,513
0

3,310,869
3,310,869

3,704,388
3,704,388

155,667
2,545,815
564,600
564,600

1,981,215
162,640
1,818,575

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

178,301

140,506

272,191

260,711

43,949

82,940

128,490

153,018

420,854
88,870
48,606
22,093

262,409
4,113
0
48,605

727,323
4,113
139,984
46,661

626,622
164,021
153,982
51,327

2,069,417
221,854
283,378
455,350

2,586,012
147,753
258,296
1,024,696

3.54
1.43
4.29
1.21
4.47
87.93
0.38
17.66
25.11
21.50
6.83
15.85

1.24
4.46
4.04
0.50
2.10
92.45
0.82
8.39
13.56
11.27

2,597,190
1,978,467
618,723
713,679
318,986
17,156
301,830
195,013
203,571
82,131
(105,071)
134,678

2,887,295
2,114,504
772,791
817,093
250,947
27,017
223,930
222,339
121,908
75,953
715,826
180,966

342,298
335,923

342,298
461,805

3,554,409
73,652
583,226
693,951

3,162,121
0
308,619
1,306,382

2,757,362
55,880
(239,749)
958,695

3,150,766
0
534,860
780,288

2.21
4.03
5.70
0.68
2.97
83.97
0.47
17.29
27.77
23.69
5.17
5.03

1.70
3.30
2.56
0.96
2.14
80.67
0.62
13.13
20.23
18.66
3.00
7.65

0.53
6.15
2.53
0.79
1.26
78.44
0.64
-2.33
-3.79
-3.55

0.53
3.29
7.47
0.76
1.22
77.94
0.59
15.90
25.45
24.23

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

299

3.97

13.66
0.00
13.66
75.43

14.11
0.00
7.38
58.23

22.84
0.00
15.50
68.59

13.51
0.00
9.01
58.33

5.37
-0.28
-3.17
0.21
-4.25
45.09

3.61
10.42
19.32
0.25
9.47
54.54

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

298,024

343,998

430,407

474,305

817,399
298,024
87,987
0

906,303
343,998
43,906
0

1,034,919
430,407
48,693
0

611,696
460,718
72,180
13,587

933,788
59,800
586,826
176,328
5,848
104,986
697,885
379,430
318,455
40,901

1,148,198
2,312
815,806
178,949
5,285
145,846
1,006,263
606,303
399,960
17,104

1,000,110
9,939
734,882
125,809
1,324
128,156
938,234
491,883
446,351
0

1,233,971
46,615
776,309
125,929
101,123
183,995
1,055,855
371,557
684,298
120,000

40,901
493,026
107,640
107,640
0
385,386

17,104
468,829
107,640
107,640
0
361,189

0
492,283
107,640
107,640
0
384,643

1,527,604
1,500,501
27,103
1,223,807

(Thousand Rupees)
2009
2010
437,123
7,808
1,108,219
392,244
68,516
12,553

120,000
532,421
107,640
107,640
0
424,781

24,518
1,103,289
850
846,291
113,998
16,220
125,930
941,061
472,169
468,892
87,344
60,000
0
0
0
27,344
512,007
107,640
107,640
0
404,367

375,989
7,312
1,113,947
337,754
61,918
5,653
80
25,190
1,062,017
38,001
783,211
110,200
11,665
118,940
894,590
288,056
606,534
22,537
0
0
0
0
22,537
520,879
107,640
107,640
0
413,239

1,550,513
1,526,227
24,286
1,255,690

1,966,119
1,940,726
25,393
1,570,430

2,332,867
2,306,585
26,282
1,859,884

303,797
213,600

294,823
260,147

395,689
296,460

472,983
337,215

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
16,820
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

86,264
26,183
32,292
0

11,412
13,000
18,837
0

49,928
11,305
32,292
0

80,005
10,000
43,056
0

70,475

2,101,734
2,016,942
84,792
1,637,812
359,147
1,278,665
463,922
410,199
268,019
142,180
222,288
74,243
13,056
19,984
9,968
0
0
383,607

533,927
0
27,789
379,430

485,933
0
(20,425)
606,303

492,283
0
6,331
491,883

652,421
0
26,949
371,557

599,351
60,000
25,772
532,169

543,416
0
10,016
288,056

0.35
1.20
11.54
1.24
1.34
80.11
1.50
7.14
18.50
17.50
1.86
2.60

0.19
3.10
11.54
1.04
1.14
80.99
2.18
0.84
2.37
2.24
-0.08
1.90

0.15
3.40
6.40
1.37
1.07
79.87
1.91
3.42
10.39
10.21
1.20
2.68

0.26
4.11
5.40
1.37
1.17
79.73
2.21
5.10
15.62
13.98
1.63
3.01

0.14
4.78
5.21
1.42
1.17
75.48
2.01
2.62
8.16
6.81

0.18
3.53
5.24
1.46
1.19
77.93
1.76
1.34
3.87
3.50

213,600

260,147

296,460

337,215

18,260

48,118

66,864

95,800

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

5.65
0.00
5.58
45.80

0.74
0.00
-0.15
43.56

2.54
0.00
3.59
45.73

3.43
0.00
6.50
49.46

2.59
3.22
1.94
0.07
2.39
47.57

2.68
2.53
0.95
0.42
0.93
48.39

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

180,796

167,392

153,749

141,421

292,998
180,796
16,367
0

293,956
167,392
14,927
0

293,630
153,749
13,586
0

293,639
141,421
12,337
0

247,739
1,327
10,948
34,492
31,772
169,200
58,801
0
58,801
0

244,770
785
4,731
34,710
66,863
137,681
52,890
0
52,890
0

270,620
519
829
34,591
95,108
139,573
40,732
0
40,732
0

326,768
669
0
26,735
161,631
137,733
46,586
0
46,586
0

0
369,734
90,000
90,000
0
279,734

0
359,272
90,000
90,000
0
269,272

0
383,637
90,000
90,000
0
293,637

0
421,603
90,000
90,000
0
331,603

158,306
158,306
0
218,672

24,370
24,370
0
32,291

6,333
6,333
0
15,805

0
0
0
9,537

(60,366)
31,043

(7,921)
10,369

(9,472)
3,694

(9,537)
31,906

(Thousand Rupees)
2009
2010
315,357
0
293,639
130,212
11,210
0
145,604
39,541
364,978
3,514
0
110,447
12,899
238,118
41,292
0
41,292
13,687
0
0
0
0
13,687
625,356
90,000
90,000
0
462,670
0
462,670
72,686

412,418
0
287,089
119,733
10,157
0
292,488
197
233,341
679
0
47,747
14,980
169,935
4,564
0
4,564
9,005
0
0
0
0
9,005
632,190
90,000
90,000
0
475,147
0
475,147
67,043
132,172
132,172
0
132,219
124,181
8,038
(47)
11,860
2,523
9,337
2,099
13
13
5,285
754
0
0
97,610

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

160
1,150
0
0

(12,833)
322
0
0

(723)
140
0
0

(25,004)
258
0
0

999,894
999,894
0
958,641
949,727
8,914
41,253
57,105
29,551
27,554
8,826
20
20
193,415
124
0
0
40,945

369,734
0
(990)
0

359,272
0
(13,155)
0

383,637
0
(863)
0

421,603
0
(25,262)
0

639,043
0
193,291
0

641,195
0
4,531
0

1.15
4.79
21.79
0.37
4.21
138.13
0.16
0.04
0.05
0.05

1.94
0.25
142.43
0.06
4.63
132.50
0.15
-3.05
-3.52
-3.52

3.20
5.65
546.20
0.01
6.64
249.57
0.11
-0.17
-0.19
-0.19

4.06

3.07
0.00
11.05
1.47
8.84
95.87
0.09
33.68
36.95
36.47

13.89
0.01
36.12
0.20
51.13
100.04
0.02
0.80
0.84
0.83

9,671.75
19.34
0.74
21.48
69.48

407.54
4.00
7.19
0.50
70.24

31,043

10,369

3,694

31,906

7,577

61

358

13

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

301

14.46

5.15

7.64

0.10
0.00
-0.11
41.08

-52.66
0.00
-1.46
39.92

-11.42
0.00
-0.10
42.63

0.00
7.01

0.11
-5.60
-6.21
-6.21

0.00
-2.81
46.84

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,035,604
1,846,022
171,306
165,715
1,772

2,034,036
1,846,934
171,306
164,294
1,420

23,867
12,888
174

22,808
1,352
175

0
12,714
1,040,443

0
1,177
1,257,445

1,040,443
386,293

1,257,445
166,973

0
0
386,293
621,756
674,645
674,645
0
(52,889)

166,973
610,970
674,645
674,645
0
(63,675)

(52,889)

(63,675)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

0
0
12,983

0
0
10,954

12,983
5,990

10,954
4,804

(12,780)
874

(10,786)

0
10,890

0
(14,764)

1,008,049
0
(13,654)
0

777,943
0
(10,786)
0

0.00

0.00

0.00
0.01

0.00
0.00

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

302

2.29
-0.62
-2.06
-1.27

2.33
-0.53
-1.75
-1.21

0.01
-0.20
9.22

-0.01
-0.16
9.06

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

700,172

833,473

1,061,394

1,086,225

902,011
700,172
36,649
0

1,080,411
833,473
48,744
0

1,368,256
1,061,394
62,559
0

1,467,449
1,086,225
77,791
0

336,831
2,515
169,227
102,338
0
62,751
422,224
107,262
314,962
269,381

477,001
7,046
226,971
135,781
0
107,203
562,681
148,362
414,319
334,361

725,355
3,090
386,420
175,240
0
160,605
810,422
309,395
501,027
558,662

709,329
36,304
319,678
252,806
0
100,541
879,729
405,896
473,833
577,544

269,381
345,398
142,714
142,714
0
202,684

(Thousand Rupees)
2009
2010
1,278,116
11,670
1,718,915
1,259,424
97,069

1,233,640
9,490
1,459,393
1,078,170
80,886

7,022
547,952
817
231,836
221,211
0
94,088
843,304

145,980
443,093
1,839
230,817
114,564
0
95,873
830,727

843,304
589,311

830,727
471,881

334,361
413,432
164,121
164,121
0
249,311

558,662
417,665
229,770
229,770
0
187,895

577,544
338,281
229,770
229,770
0
108,511

0
0
589,311
393,453
229,770
229,770

865,856
865,856
0
710,665

1,341,811
1,341,811
0
1,099,327

1,463,414
1,463,414
0
1,262,685

2,056,588
2,056,588
0
1,907,920

155,191
72,783

242,484
97,404

200,729
94,379

148,668
109,151

(49,645)

471,881
374,125
229,770
229,770
0
(49,315)

(49,645)
213,328

(49,315)
193,670

1,764,852
1,764,852

1,742,074
1,742,074

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

72,783

97,404

94,379

109,151

32,604

57,373

107,182

142,238

1,577,168
1,089,110
488,058
187,684
104,218
62,762
41,456
120,411
195,368
128,766
(105,810)
20,192

1,542,996
1,160,605
382,391
199,078
100,631
59,242
41,389
118,732
138,592
81,650
(25,875)
7,482
0
0
113,206

53,274
3,765
0
21,407

91,072
5,834
0
21,407

8,558
6,316
0
0

(71,073)
8,843
0
0

0
127,054

614,779
0
49,509
107,262

747,793
0
85,238
148,362

976,327
0
2,242
309,395

915,825
0
(79,916)
405,896

982,764
0
(126,002)
0

846,006
0
(33,357)
0

0.25
3.77
11.82
0.83
0.80
82.08
2.00
5.94
17.68
10.31

0.25
4.28
10.12
1.02
0.85
81.93
2.17
7.76
24.00
13.37

0.22
7.32
11.97
0.82
0.90
86.28
3.28
0.55
2.06
0.99

0.33
6.92
12.29
1.15
0.81
92.77
4.31
-3.97
-18.80
-7.51

0.26
11.07
12.53
0.97
0.65
89.37
3.64
-5.84
-28.92
-11.15

0.14
7.96
6.58
1.04
0.53
88.57
3.48
-1.48
-6.74
-2.83

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

303

5.12

5.91

3.79

6.43

7.61
0.18
-6.00
0.09
-5.48
17.12

7.55
0.68
-1.49
0.09
-1.45
16.28

6.15
0.00
3.47
24.20

6.79
0.00
5.19
25.19

0.58
0.00
0.10
18.18

-3.46
0.00
-3.48
14.72

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

689,361

691,694

1,013,140

1,143,173

1,289,759
689,361
41,879
0

1,328,461
691,694
70,953
0

1,714,584
1,013,140
133,026
0

1,924,153
1,139,456
92,037
3,717

544,277
23,411
215,265
185,502
0
120,099
788,236
318,101
470,135
207,483

672,832
35,247
288,961
233,345
0
115,279
1,002,102
529,665
472,437
188,540

667,273
50,345
292,316
204,082
0
120,530
959,560
527,987
431,573
279,455

781,780
38,585
361,022
225,487
0
156,686
1,158,906
645,772
513,134
344,127

207,483
237,919
153,333
153,333
0
84,586

(Thousand Rupees)
2009
2010
1,220,805
7,265
2,018,903
1,160,831
86,177
3,345

1,251,279
7,265
2,160,901
1,209,670
88,329
3,011

49,364
921,011
58,617
437,345
278,970
0
146,079
1,041,023

31,333
932,477
51,008
346,808
337,710
0
196,951
1,200,553

1,041,023
570,806

1,200,553
468,243

188,540
173,884
153,333
153,333
0
20,551

279,455
441,398
153,333
153,333
0
288,065

344,127
421,920
153,333
153,333
0
268,587

0
0
570,806
529,987
350,000
350,000
0
(231,459)

(231,459)
411,446

(286,368)
451,328

1,014,401
906,519
107,882
793,345

1,178,984
1,014,498
164,486
967,014

1,373,555
1,223,019
150,536
1,109,146

1,427,766
1,348,602
79,164
1,160,608

221,056
129,736

211,970
151,141

264,409
159,427

267,158
177,315

1,542,108
1,449,135
92,973
1,283,505
674,796
608,709
258,603
182,976
108,263
74,713
301,332
185,187
52,927
(103,152)

1,860,988
1,696,467
164,521
1,554,592
697,888
856,704
306,396
211,171
128,256
82,915
307,026
174,824
77,931
(76,177)

468,243
514,960
350,000
350,000
0
(286,368)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

129,736

151,141

159,427

177,315

53,666

83,669

98,972

112,039

105,172
4,490
0
0

(14,444)
6,737
0
0

10,870
6,042
0
0

(15,583)
6,302
0
0

445,402
0
100,682
318,101

362,424
0
(21,181)
529,665

720,853
0
4,828
527,987

766,047
0
(21,885)
645,772

1,100,793
0
(103,152)
0

983,203
0
(76,177)
0

0.27
5.29
18.29
0.82
0.69
78.21
4.19
9.84
137.39
56.16

0.27
7.10
19.79
0.86
0.67
82.02
6.85
-1.11
-7.02
-3.58

0.27
7.21
14.86
0.82
0.70
80.75
2.81
0.71
3.53
2.01

0.23
7.85
15.79
0.74
0.67
81.29
3.56
-0.86
-3.61
-2.10

0.32
12.01
18.09
0.72
0.88
83.23
3.04
-5.07
-21.67
-11.05

0.32
9.39
18.15
0.85
0.78
83.54
3.24
-3.52
-14.58
-7.31

0
18,455

0
0
41,955

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

304

4.71

4.08

4.70

3.95

3.53
-0.95
-6.69
0.01
-2.95
15.14

5.37
0.02
-4.09
0.03
-2.18
14.71

10.37
0.00
6.57
15.52

-1.23
0.00
-1.38
11.34

0.79
0.00
0.31
28.79

-1.09
0.00
-1.43
27.52

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

49,236

44,661

40,547

36,845

172,750
49,236
8,562
0

172,750
44,661
4,574
0

172,750
40,547
4,115
0

172,750
36,845
3,702
0

117,215
18
0
74,656
18
42,523
328,242
17,887
310,355
0

116,649
17
0
75,190
18
41,424
329,164
0
329,164
0

114,824
18
0
75,047
73
39,686
325,241
0
325,241
0

121,979
10
0
83,904
154
37,911
327,493
0
327,493
0

0
(161,791)
20,000
20,000
0
(181,791)

0
(167,854)
20,000
20,000
0
(187,854)

0
(169,870)
20,000
20,000
0
(189,870)

0
(168,669)
20,000
20,000
0
(188,669)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
40,633

0
5,813

0
6,754

0
6,242

(Thousand Rupees)
2009
2010
33,624
0
172,750
33,514
3,331
0
110
0
134,536
11
842
98,553
0
35,130
331,139
0
331,139
0
0
0
0
0
0
(162,979)
20,000
20,000
0
(182,979)
92
(183,071)
0

30,643
0
172,750
30,517
2,997
0
126
0
107,773
25
0
103,436
0
4,312
332,878
0
332,878
0
0
0
0
0
0
(194,462)
20,000
20,000
0
(214,462)
108
(214,570)
0
0
0
0
0
0
0
0
35,566
0
35,566
0
0
0
(31,499)
0
0
0
8

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(42,131)
0
0
0

(6,064)
0
0
0

(2,071)
0
0
0

1,120
0
0
0

0
0
0
0
0
0
0
6,457
0
6,457
0
1
0
5,732
0
0
0
12

(161,791)
0
(42,131)
17,887

(167,854)
0
(6,064)
0

(169,870)
0
(2,071)
0

(168,669)
0
1,120
0

(162,979)
0
5,732
0

(194,462)
0
(31,499)
0

0.23

0.23

0.23

0.26

0.30

0.31

0.00
0.36

0.00
0.35

0.00
0.35

0.00
0.37

0.00
0.41

0.00
0.32

40,633

5,813

6,754

6,242

2,661

696

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

305

-2.03
-22.50
29.94
30.71

-1.96
-3.70
3.68
3.68

-1.91
-1.31
1.23
1.23

-1.94
0.71
-0.66
-0.66

-2.03
3.51
-3.46
-3.46

-1.71
-20.55
17.62
17.62

0.00
-21.07
-80.90

0.00
-3.03
-83.93

0.00
-1.04
-84.94

0.00
0.56
-84.33

0.00
2.87
-81.49

0.00
-15.75
-97.23

0.00

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

13,667

2,040

3,815

2,395

1,578

29,333
13,603
4,590
64

14,674
2,040
3,133
0

16,049
3,815
3,001
0

4,279
2,395
2,651
0

3,363
1,278
742

3,363
527
751

322,463
231,965
18,709
37,471
13,029
21,289
107,941
0
107,941
0

342,230
21,171
66,925
54,359
0
199,775
91,989
0
91,989
0

530,246
130,961
129,154
98,741
0
171,390
304,781
0
304,781
0

440,755
68,307
143,362
176,327
0
52,759
179,491
0
179,491
0

300
623,102
8,071
145,372
97,922

226
592,035
8,788
196,761
126,089

0
228,189
192,000
192,000
0
36,189

0
252,281
192,000
192,000
0
60,281

0
229,280
192,000
192,000
0
37,280

0
263,659
192,000
192,000
0
71,659

817,708
817,708
0
618,543

662,092
662,092
0
491,427

743,848
743,848
0
577,558

1,449,258
1,449,258
0
1,118,494

199,165
171,909

170,665
138,793

166,290
158,517

330,764
295,921

753

371,737
261,267

260,397
203,491

261,267
0

203,491
0

363,413
192,000
192,000

389,297
192,000
192,000

171,413

197,297

171,413

197,297

727,573
727,573

796,671
796,671

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

171,909

138,793

158,517

295,921

157

112

274

695

457,963
457,963

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

43,922
37,483
0
0

50,410
34,216
0
0

27,683
50,684
0
0

72,306
65,195
9,600
0

124,723
15,369

58,461
32,577

247,461

140,457

228,189
0
6,439
0

252,281
0
16,194
0

229,280
0
(23,001)
0

263,659
0
(2,489)
0

363,413
0
109,354
0

389,297
0
25,884
0

2.62
0.02
4.58
2.43
2.99
75.64
0.47
14.05
19.88
19.88

0.82
0.02
8.21
1.92
3.72
74.22
0.36
14.82
20.98
20.98

0.75
0.04
13.27
1.39
1.74
77.64
1.33
6.30
11.50
11.50

1.36
0.05
12.17
3.27
2.46
77.18
0.68
14.80
29.34
29.34
0.74
10.11

0.41
0.04
13.46
1.16
2.38
62.94
0.72
23.36
39.78
39.78

0.66
0.00
15.83
1.34
2.91
69.13
0.52
9.60
15.53
15.53

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

306

43.71

9.89

5.76

5.00

4.05

5.37
0.00
0.34
11.88

7.61
0.00
0.84
13.14

3.72
0.00
-1.20
11.94

4.99
0.00
0.37
13.73

17.14
0.95
5.70
18.93

7.34
0.69
1.35
20.28

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,005

2,706

2,440

3,447

2,914

14,151
3,005
460
0

14,245
2,706
393
0

14,315
2,440
336
0

15,744
3,447
422
0

15,757
2,629
418

15,757
2,629
418

12,651
317
9,913
188
0
2,233
3,655
0
3,655
0

13,291
488
10,191
358
0
2,254
3,080
0
3,080
0

16,125
1,829
12,252
908
0
1,136
9,475
2,756
6,719
0

14,158
5,130
6,890
1,482
0
656
7,221
0
7,221
0

285
20,269
3,747
13,605
2,342

285
20,269
3,747
13,605
2,342

0
12,001
3,000
3,000
0
9,001

0
12,917
3,000
3,000
0
9,917

0
9,090
3,000
3,000
0
6,090

0
10,384
3,000
3,000
0
7,384

219,666
219,666
0
212,893

238,020
238,020
0
231,325

238,908
238,908
0
230,541

301,696
301,696
0
292,560

6,773
4,731

6,695
4,589

8,367
5,529

9,136
5,597

2,914

575
2,658
701
1,957
7,602

575
2,658
701
1,957
7,602

7,602
12,923
3,000
3,000

7,602
12,923
3,000
3,000

9,923

9,923

9,923

9,923

488,277
488,277

488,277
488,277

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

4,731

4,589

5,529

5,597

14

81

16

92

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
2,643
600

2,028
1,098
600
0

2,025
1,190
600
0

2,822
1,242
600
0

3,447
1,508
600
0

4,574

4,574

12,001
0
330
0

12,917
0
235
0

9,090
0
980
2,756

10,384
0
1,339
0

20,525
0
765
701

20,525
0
765
701

0.29
0.01
0.38
12.87
1.70
96.50
1.04
16.33
25.65
25.65
2.63
19.50

0.92
0.03
0.49
17.14
1.96
96.97
0.70
19.06
35.40
35.40
3.23
43.79

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.14
0.01
0.09
14.03
3.46
96.92
0.30
12.05
17.83
17.83
1.55
22.16

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.27
0.03
0.15
14.88
4.32
97.19
0.24
12.79
16.25
16.25
1.39
23.36

0.92
0.00
3.10
40.00

0.85
0.00
2.78
43.06

1.18
0.00
5.27
30.30

1.14
0.00
6.46
34.61

2.29
0.02
0.48
21.06
7.63
97.77
0.79
19.65
34.39
25.93
2.28
35.89
39.17
0.82
0.45
4.55
43.08

2.29
0.02
0.48
21.06
7.63
97.77
0.79
17.29
31.01
19.53
2.28
35.89
39.17
0.82
0.45
4.55
43.08

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

24,909

28,368

26,379

36,215

50,184
24,909
3,626
0

56,670
28,368
3,327
0

56,236
26,379
3,047
0

67,289
36,215
3,675
0

289,106
14,237
47,808
17,299
120,581
89,181
14,262
0
14,262
0

268,923
32,264
51,920
23,188
101,883
59,668
17,603
0
17,603
0

263,624
27,266
55,132
28,324
105,951
46,951
21,371
0
21,371
0

231,755
4,193
63,896
22,975
101,956
38,735
19,683
0
19,683
0

0
299,753
16,332
16,332
0
283,421

0
279,688
16,332
16,332
0
263,356

0
268,632
16,332
16,332
0
252,300

0
248,287
16,332
16,332
0
231,955

100,538
0
100,538
61,145

120,289
4,019
116,270
74,648

130,076
6,650
123,426
84,395

138,542
5,175
133,367
89,735

39,393
30,524

45,641
33,096

45,681
34,384

48,807
36,387

(Thousand Rupees)
2009
2010
117,943
0
70,215
35,982
4,390
0
75,377
6,584
124,191
10,572
71,510
22,587
0
19,522
18,940
0
18,940
0
0
0
0
0
0
223,194
16,332
2,091
14,241
206,862
0
206,862
0

79,840
1,314
72,352
36,016
4,307
0
37,947
4,563
141,546
8,241
79,386
29,325
0
24,594
20,205
0
20,205
0
0
0
0
0
0
201,181
73,493
2,091
71,402
127,688
0
127,688
0
180,194
180,194
0
111,655
75,981
35,674
68,539
47,710
22,925
24,785
42,631
727
0
(22,898)
1,597
523
0
3,912

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

25,607
2,739
0
0

29,118
4,097
28,581
0

23,265
3,322
28,581
0

10,887
2,486
16,332
0

134,591
134,591
0
80,398
51,774
28,624
54,193
35,044
15,910
19,134
36,041
705
0
(8,198)
1,735
523
49,844
14,273

299,753
0
22,868
0

279,688
0
(3,560)
0

268,632
0
(8,638)
0

248,287
0
(7,931)
0

223,194
0
(10,456)
0

201,181
0
(25,018)
0

10.67
0.71
17.21
0.32
20.27
60.82
0.05
8.46
9.40
9.40

8.94
0.63
19.28
0.40
15.28
62.06
0.06
9.53
10.05
10.05
0.88
2.32

7.56
0.73
21.77
0.45
12.34
64.88
0.08
7.92
8.49
8.49
0.70
2.36

6.56
0.53
16.58
0.52
11.77
64.77
0.08
3.90
4.21
4.21
0.51
2.17

1.75
0.52
16.78
0.56
6.56
59.74
0.08
-3.21
-3.48
-3.48
-19.00
1.88

1.86
0.40
16.27
0.81
7.01
61.96
0.10
-9.88
-10.79
-10.79
-46.86
2.27

30,524

33,096

34,384

36,387

711

752

945

741

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.10

308

25.47
0.00
14.00
183.54

24.21
0.00
15.32
171.25

17.89
0.00
12.21
164.48

7.86
0.00
5.14
152.02

-6.09
0.75
-47.50
1,067.40

-12.71
0.19
-117.14
962.13

Financial Statement Analysis of Non Financial Sector 2010

Hashimi Can Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

97,974

97,027

96,212

95,451

141,118
97,974
1,061
0

141,117
97,027
947
0

141,153
96,212
850
0

141,153
95,451
760
0

35,984
1,092
10,833
7,238
0
16,821
57,357
2,278
55,079
16,000

34,093
254
11,052
6,373
0
16,414
64,451
2,193
62,258
16,000

32,066
443
8,739
6,245
0
16,639
74,157
2,193
71,964
16,000

32,541
128
8,725
5,887
0
17,801
83,407
2,193
81,214
16,000

16,000
60,601
16,335
16,335
0
44,266

16,000
50,669
16,335
16,335
0
34,334

16,000
38,121
16,335
16,335
0
21,786

16,000
28,585
16,335
16,335
0
12,250

60,295
53,856
6,439
52,702

35,993
32,576
3,417
33,655

25,105
20,245
4,860
24,985

14,741
6,206
8,535
16,910

7,593
9,710

2,338
8,893

120
8,873

(2,169)
8,181

(Thousand Rupees)
2009
2010
95,451
0
141,153
95,451
760
0
0
0
32,541
128
8,725
5,887
0
17,801
83,407
2,193
81,214
16,000
0
0
0
0
16,000
28,585
16,335
16,335
0
12,250
0
12,250
0

95,451
0
141,153
95,451
760
0
0
0
32,541
128
8,725
5,887
0
17,801
83,407
2,193
81,214
16,000
0
0
0
0
16,000
28,585
16,335
16,335
0
12,250
0
12,250
0
14,741
6,206
8,535
16,910
0
16,910
(2,169)
8,181
0
8,181
0
186
0
(10,536)
0
0
0
1,074

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(4,709)
0
0
0

(9,933)
0
0
0

(11,580)
967
0
0

(9,462)
74
0
0

14,741
6,206
8,535
16,910
0
16,910
(2,169)
8,181
0
8,181
0
186
0
(10,536)
0
0
0
1,074

76,601
0
(4,709)
2,278

66,669
0
(9,933)
2,193

54,121
0
(12,547)
2,193

44,585
0
(9,536)
2,193

44,585
0
(10,536)
2,193

44,585
0
(10,536)
2,193

0.15
5.13
12.00
0.45
0.63
87.41
1.21
-3.48
-7.48
-5.96

0.10
10.80
17.71
0.27
0.53
93.50
1.59
-7.49
-17.85
-13.87

0.09
16.12
24.88
0.20
0.43
99.52
2.37
-8.93
-26.08
-19.17

0.07
1.26
39.94
0.12
0.39
114.71
3.48
-7.38
-28.37
-19.17

0.07
1.26
39.94
0.12
0.39
114.71
3.48
-8.23
-36.86
-23.63

0.07
1.26
39.94
0.12
0.39
114.71
3.48
-8.23
-36.86
-23.63

9,710

8,893

8,873

8,181

3,093

3,888

4,046

186

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

309

5.57

3.26

2.87

1.69

1.69

1.69

-7.81
0.00
-2.88
37.10

-27.60
0.00
-6.08
31.02

-46.13
0.00
-7.68
23.34

-64.19
0.00
-5.84
17.50

-71.47
0.01
-6.45
17.50

-71.47
0.01
-6.45
17.50

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

312,108

395,273

1,214,181

1,244,052

541,667
312,108
25,689
0

661,551
395,273
36,719
0

1,503,484
1,213,848
37,688
333

1,586,584
1,243,886
53,062
166

473,644
5,796
305,460
51,303
0
111,085
502,811
8,650
494,161
37,926

631,777
47,199
366,926
83,698
0
133,954
680,062
9,727
670,335
28,231

562,857
18,860
344,924
63,710
0
135,363
691,422
11,155
680,267
17,110

529,464
61,660
172,381
92,626
0
202,797
623,933
4,079
619,854
13,031

37,926
245,015
122,003
122,003
0
123,012

(Thousand Rupees)
2009
2010
1,743,351
278
2,127,520
1,737,258
58,379

5,074,621
3,925
5,137,167
5,055,037
77,262

5,815
1,060,297
12,231
779,263
128,827
0
139,976
765,323

15,659
1,134,393
31,797
832,643
96,457
0
173,496
887,472

765,323
324,741

887,472
416,477

28,231
318,757
140,303
140,303
0
178,454

17,110
1,068,506
182,394
182,394
0
886,112

13,031
1,136,552
218,873
218,873
0
917,679

0
0
324,741
1,713,584
341,442
341,442
0
409,517

409,517
962,625

328,997
4,021,224

687,126
687,126
0
577,176

1,119,166
1,118,787
379
924,628

946,766
945,449
1,317
792,146

1,184,837
1,184,837
0
972,219

109,950
30,913

194,538
46,706

154,620
37,693

212,618
48,754

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
78,804

1,285,301
1,252,128
33,173
976,326
601,487
374,839
308,975
60,658
4,062
56,596
73,154
38,830
20,714
211,153
82,085
0
138,711
238,921

416,477
4,905,065
554,844
554,844
0
328,997

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

30,913

46,706

37,693

48,754

6,304

8,996

15,292

10,868

76,251
3,108
12,200
0

157,855
34,555
28,061
42,091

104,140
11,610
27,359
0

154,194
47,961
0
65,662

102,433
(27,514)

282,941
0
60,943
8,650

346,988
0
95,239
9,727

1,085,616
0
65,171
11,155

1,149,583
0
106,233
4,079

2,038,325
0
143,126
0

5,321,542
0
129,068
0

0.11
0.92
7.47
0.87
0.94
84.00
2.21
11.44
35.73
32.82
6.00
2.25

0.19
0.80
7.48
1.09
0.93
82.62
2.22
17.42
56.00
50.12
4.39
3.05

0.25
0.92
7.82
0.67
0.85
82.06
0.56
8.69
13.99
13.80

0.18
1.32
9.74
0.47
1.39
77.60
0.64
9.70
15.57
13.92

0.14
3.02
7.50
0.21
1.28
75.96
0.27
4.69
6.38
5.74

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

0.12
1.62
6.73
0.53
0.81
83.67
0.66
7.43
15.01
14.54
3.38
2.74

6.87

1.70
1,563.89
16.77
-0.03
4.19
50.19

1.54
11.19
16.43
0.18
2.33
88.40

11.10
0.00
6.00
20.08

14.10
0.00
8.79
22.72

11.00
0.00
5.07
58.58

13.01
0.00
4.85
51.93

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,665,288

1,841,911

2,742,437

4,182,713

2,445,798
1,657,634
670,486
7,654

2,785,087
1,837,046
173,817
4,865

3,832,413
2,736,859
190,195
5,578

5,282,865
4,172,307
221,569
10,406

3,274,591
2,242
2,583,831
513,096
0
175,422
2,891,109
2,484,154
406,955
331,250

3,405,379
428,961
2,025,921
597,975
0
352,522
2,972,692
2,442,728
529,964
275,000

5,857,903
3,923
3,309,927
914,470
1,359,018
270,565
5,195,903
4,428,150
767,753
1,062,500

6,443,498
28,106
4,591,568
1,401,333
0
422,491
5,695,607
4,389,655
1,305,952
1,141,665

331,250
1,717,520
427,892
427,892
0
1,289,628

(Thousand Rupees)
2009
2010
6,011,101
1,946,855
5,315,906
3,987,224
227,824
17,959

10,048,930
6,041,888
5,389,969
3,849,399
227,615
11,801

59,063
5,167,778
1,235,455
2,228,967
1,083,990
0
619,366
4,838,067

145,842
8,709,238
21,568
6,114,406
1,579,112
0
994,152
8,708,712

4,838,067
2,301,952

8,708,712
5,358,990

275,000
1,999,598
427,892
427,892
0
1,571,706

1,062,500
2,341,937
569,096
569,096
0
1,772,841

1,141,665
3,788,939
832,587
832,587
0
2,956,352

0
0
2,301,952
4,038,860
999,105
999,105
0
1,661,200

1,661,200
1,378,555

2,324,496
1,366,865

8,089,459
6,507,039
1,582,420
7,220,306

8,727,002
7,186,363
1,540,639
7,486,474

11,020,192
9,062,959
1,957,233
9,597,211

13,761,502
10,741,994
3,019,508
11,974,069

869,153
282,513

1,240,528
337,871

1,422,981
413,264

1,787,433
619,724

13,471,783
9,844,998
3,626,785
11,249,674
13,747,603
(2,497,929)
2,222,109
746,201
384,019
362,182
497,818
257,090
242,277
1,359,271
333,000
399,642
199,821
(3,490,319)

5,358,990
4,690,466
999,105
999,105
0
2,324,496

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

502,744
101,000
122,255
264,885

725,519
182,000
213,946
141,204

807,357
166,000
213,411
187,802

904,303
140,066
208,147
249,776

12,319,422
9,412,420
2,907,002
11,152,273
8,929,564
2,222,709
1,167,149
483,294
318,172
165,122
381,586
535,081
522,703
468,809
94,000
224,799
0
2,945,001

2,048,770
0
279,489
2,484,154

2,274,598
0
329,573
2,442,728

3,404,437
0
427,946
4,428,150

4,930,604
0
556,090
4,389,655

6,340,812
0
150,010
0

10,049,456
0
626,629
0

0.18
1.30
6.34
1.64
1.13
89.26
1.88
10.95
32.73
27.48
3.29
3.13

0.35
2.06
6.85
1.66
1.15
85.79
1.62
14.24
39.04
33.56
2.54
4.31

0.44
3.01
8.30
1.28
1.13
87.09
2.67
11.66
37.19
28.43
3.01
3.33

0.25
3.27
10.18
1.30
1.13
87.01
1.80
9.41
29.50
21.70
3.67
3.00

0.48
4.34
8.80
1.10
1.07
90.53
1.77
4.30
11.98
8.32
1.67
5.53
1.90
3.81
0.41
3.75
40.42

0.18
1.91
11.72
0.72
1.00
83.51
3.00
9.08
31.14
16.59
2.57
2.20
6.61
10.09
-0.25
10.27
46.95

282,513

337,871

413,264

619,724

105,339

179,845

331,766

450,227

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

311

6.21
0.00
9.39
40.14

8.31
0.00
12.70
46.73

7.33
0.00
11.27
41.15

6.57
0.00
9.18
45.51

Financial Statement Analysis of Non Financial Sector 2010

KSB Pumps Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

75,567

89,825

152,302

216,819

305,694
75,567
14,600
0

328,551
89,825
14,355
0

408,862
152,302
18,709
0

494,810
216,819
25,114
0

770,147
119,624
200,335
322,262
2,928
124,998
448,208
103,218
344,990
0

740,119
136,066
267,057
214,193
2,805
119,998
362,480
47
362,433
0

929,651
267,011
244,881
250,061
0
167,698
491,809
47,795
444,014
0

1,001,191
75,374
348,155
382,279
2,289
193,094
541,178
16,422
524,756
0

0
397,506
120,000
120,000
0
277,506

(Thousand Rupees)
2009
2010
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
207,403
768,815

325,188
13,812
616,450
292,199
31,890
5,626
1,866
11,685
1,483,920
163,301
462,601
632,844
0
225,174
918,665

768,815
52,273

918,665
63,843

0
467,464
120,000
120,000
0
347,464

0
590,144
120,000
120,000
0
470,144

0
676,832
120,000
120,000
0
556,832

0
0
52,273
773,021
132,000
132,000
0
641,021

1,297,939
1,196,336
101,603
959,843

1,441,911
1,305,612
136,299
1,016,886

1,708,235
1,537,357
170,878
1,242,144

1,911,894
1,784,252
127,642
1,404,284

338,096
210,022

425,025
258,786

466,091
271,115

507,610
318,339

63,843
826,600
132,000
132,000
0
694,600

641,021

694,600

2,047,989
1,803,885
244,104
1,564,429
1,047,522
516,907
483,560
355,929
214,023
141,906
289,639
17,248
12,753
153,250
53,471
16,500
0
(92,165)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

145,024
51,000
21,000
0

190,843
57,450
48,000
0

227,992
62,000
84,000
0

233,919
10,769
51,600
12,000

2,024,247
1,815,201
209,046
1,522,737
929,938
592,799
501,510
319,004
183,402
135,602
268,683
10,421
5,700
213,788
66,000
46,200
0
289,729

397,506
0
73,024
103,218

467,464
0
85,393
47

590,144
0
81,992
47,795

676,832
0
171,550
16,422

825,294
0
101,588
0

890,443
0
83,279
0

0.99
0.82
24.83
1.53
1.72
73.95
1.13
19.14
40.06
39.94
4.48
6.48

0.97
0.40
14.85
1.74
2.04
70.52
0.78
22.78
44.13
44.13
2.78
5.40

1.05
0.49
14.64
1.58
1.89
72.72
0.83
23.85
43.11
43.11
1.98
6.98

0.85
0.61
19.99
1.57
1.85
73.45
0.80
20.34
36.93
36.93
4.32
5.49

0.99
0.51
26.01
1.27
1.74
75.22
1.06
15.20
29.49
28.46
3.20
5.47
38.51
10.56
0.35
11.20
58.56

0.87
0.84
30.90
1.13
1.62
76.39
1.19
9.01
19.16
17.86
6.05
4.43
13.02
7.48
-0.09
7.56
62.62

210,022

258,786

271,115

318,339

10,672

5,790

8,413

11,639

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

312

11.17
0.00
7.84
33.13

13.24
0.00
11.12
38.96

13.35
0.00
13.83
49.18

12.23
0.00
18.60
56.40

Financial Statement Analysis of Non Financial Sector 2010

Khyber Tobacco Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,977

3,958

3,939

3,921

4,859

37,382
3,977
9
0

37,873
3,958
19
0

37,873
3,939
19
0

37,873
3,921
18
0

37,872
3,903
18

40,223
6,072
182

5,150
11
3,859
0
0
1,280
49,881
3,600
46,281
1,931

1,135
136
0
0
0
999
46,517
3,431
43,086
0

5,767
126
4,404
0
0
1,237
41,187
0
41,187
0

31,396
3,147
25,454
0
0
2,795
61,037
0
61,037
0

956
48,822

3,956
115,554

0
48,822
75,820

0
115,554
111,398

75,820
0

111,398
0

1,931
(42,685)
12,018
12,018
0
(54,703)

0
(41,424)
12,018
12,018
0
(53,442)

0
(31,481)
12,018
12,018
0
(43,499)

0
(25,720)
12,018
12,018
0
(37,738)

0
0
0
(22,139)
12,018
12,018
0
(34,157)

7,120
7,120
0
5,172

11,506
11,506
0
7,750

25,706
25,706
0
17,596

69,874
42,767
27,107
61,151

1,948
1,408

3,756
2,806

8,110
2,918

8,723
2,637

10,028

0
14,184
12,018
12,018
0
2,166

(34,157)

2,166

115,903
97,296
18,607
104,729
64,701
40,028
11,174
4,098
210
3,888
4,175
119

244,828
95,581
149,247
177,430
130,627
46,803
67,398
24,409
15,002
9,407
4,674
717

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,408

2,806

2,918

2,637

23

101

1,935
677
0
0

2,855
999
0
0

19,686
1,125
0
0

7,217
1,458
1,803
0

7,027
2,852

0
4,391

42,392
6,069
0
0
12,808

(40,754)
0
1,258
3,600

(41,424)
0
1,856
3,431

(31,481)
0
18,561
0

(25,720)
0
3,956
0

(22,139)
0
4,175
0

14,184
0
36,323
0

0.00
0.00
0.00
0.78
0.10
72.64
-1.21
10.99
-3.77
-3.99

0.00
0.00
0.00
2.26
0.02
67.36
-1.12
40.15
-6.79
-6.95

0.00
0.09
0.00
2.65
0.14
68.45
-1.31
266.05
-54.00
-54.00

0.00
0.10
0.00
2.16
0.64
90.36
-3.42
15.79
-29.37
-29.37

0.00
0.29
0.00
1.95
1.04
72.47
7.85
47.30
-1,065.80
-1,065.80

5.84

0.05
0.14
0.00
1.98
0.51
87.52
-2.37
32.06
-25.23
-25.23
3.19
2.75

27.18
0.00
1.05
-35.52

24.81
0.00
1.54
-34.47

76.58
0.00
15.44
-26.19

10.33
0.00
4.79
-21.40

6.06
0.06
3.47
-18.42

17.32
0.11
30.22
11.80

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.85

313

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

20,230

17,698

17,257

16,868

30,585
20,230
737
0

27,911
17,698
499
0

27,911
17,257
440
0

27,911
16,868
389
0

72,900
25,446
35,664
7,749
0
4,041
30,808
11,810
18,998
0

55,393
18,663
30,687
554
0
5,489
24,199
14,895
9,304
0

50,680
17,896
26,498
1,314
0
4,972
26,076
14,495
11,581
0

50,037
20,945
24,607
1,544
0
2,941
30,919
19,720
11,199
0

0
62,322
60,000
60,000
0
2,322

0
48,892
60,000
60,000
0
(11,108)

0
41,861
60,000
60,000
0
(18,139)

0
35,986
60,000
60,000
0
(24,014)

33,652
33,652
0
35,079

35,387
35,387
0
29,354

30,460
30,460
0
31,521

15,190
15,190
0
17,314

(1,427)
10,868

6,033
5,948

(1,061)
5,418

(2,124)
4,939

(Thousand Rupees)
2009
2010
17,703
0
15,396
4,005
347
0
0
13,698
30,919
3,649
19,467
301
0
7,502
15,719
8,300
7,419
1,140
0
0
0
1,140
0
31,763
60,000
60,000
0
(28,237)
0
(28,237)
0

17,395
0
15,396
3,697
308
0
0
13,698
24,170
1,742
17,144
0
0
5,284
17,381
8,300
9,081
1,442
0
0
0
1,442
0
22,741
60,000
60,000
0
(37,259)
0
(37,259)
0
18,348
2,503
15,845
21,588
14,365
7,223
(3,240)
4,888
1,299
3,589
3,331
1,137
956
(8,837)
184
0
0
(1,907)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(7,108)
403
0
0

(994)
253
0
0

(6,736)
296
0
0

(5,727)
148
0
0

24,937
(666)
25,603
28,339
16,379
11,960
(3,402)
11,240
2,419
8,821
5,164
3,309
2,861
(3,525)
256
0
0
(4,694)

62,322
0
(7,511)
11,810

48,892
0
(1,247)
14,895

41,861
0
(7,032)
14,495

35,986
0
(5,875)
19,720

32,902
0
(3,781)
8,300

24,183
0
(9,021)
8,300

1.08
3.07
23.03
0.36
2.37
104.24
0.49
-7.63
-11.41
-11.41

0.79
6.13
1.57
0.48
2.29
82.95
0.49
-1.20
-1.79
-1.79

0.74
6.78
4.31
0.45
1.94
103.48
0.62
-9.55
-14.84
-14.84

0.73
17.73
10.16
0.23
1.62
113.98
0.86
-8.49
-14.71
-14.71

0.25
13.27
1.21
0.51
1.97
113.64
0.53
-6.10
-10.41
-10.23

0.10
6.20
0.00
0.44
1.39
117.66
0.83
-19.60
-32.43
-30.96

10,868

5,948

5,418

4,939

1,032

2,170

2,066

2,693

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

314

0.94

1.15

1.15

0.62

1.28
-0.23
-14.14
-0.28
-0.63
5.29

1.07
-8.25
-48.16
-0.10
-1.50
3.79

-21.12
0.00
-1.25
10.39

-2.81
0.00
-0.21
8.15

-22.11
0.00
-1.17
6.98

-37.70
0.00
-0.98
6.00

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,437,725

1,378,450

1,249,365

840,752

1,616,050
1,428,738
12,041
8,987

1,657,805
1,371,859
98,634
6,591

1,662,052
1,245,171
131,302
4,194

1,268,211
840,752
98,245
0

248,026
1,705
80,872
0
0
165,449
419,340
310,071
109,269
707,666

188,609
6,204
50,186
78,587
0
53,632
856,368
344,071
512,297
360,237

142,683
1,309
40,362
50,197
0
50,815
514,598
112,089
402,509
642,384

292,842
62,804
35,105
42,413
0
152,520
630,901
185,326
445,575
434,439

707,666
558,745
388,860
388,860
0
169,885

360,237
350,454
388,860
388,860
0
(38,406)

642,384
235,066
388,860
388,860
0
(153,794)

434,439
68,254
388,860
388,860
0
(320,606)

109,556
109,556
0
106,339

546,816
540,999
5,817
539,511

468,063
463,851
4,212
521,778

404,916
402,169
2,747
433,734

3,217
23,130

7,305
23,536

(53,715)
28,071

(28,818)
28,997

(Thousand Rupees)
2009
2010
906,392
0
1,183,148
796,741
417
417
0
109,234
95,002
3,918
15,252
45,256
0
30,576
505,349
0
505,349
537,430
308,182
0
0
8,527
220,721
(41,385)
388,860
388,860
0
(430,245)
79,930
(510,175)
0

852,564
0
1,166,904
710,062
334
334
0
142,168
90,092
177
29,497
28,450
0
31,968
473,055
0
473,055
538,671
183,093
0
0
9,083
346,495
(69,070)
388,860
388,860
0
(457,930)
79,930
(537,860)
0
227,956
224,879
3,077
236,171
236,171
0
(8,215)
21,900
3,904
17,996
27,171
60,531
60,079
(60,509)
1,285
0
0
139,127

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

7,809
1,887
0
0

(89,004)
2,430
0
0

(202,007)
2,066
0
0

(230,536)
1,689
0
0

133,068
133,068
0
190,446
190,446
0
(57,378)
22,711
4,856
17,855
26,777
48,704
52,892
(100,317)
0
0
0
(15,624)

1,266,411
0
5,922
310,071

710,691
0
(91,434)
344,071

877,450
0
(204,073)
112,089

502,693
0
(232,225)
185,326

496,045
308,182
(100,317)
308,182

469,601
183,093
(61,794)
183,093

0.00
11.37
0.00
0.06
0.59
97.06
2.02
0.52
1.44
0.66

0.10
13.31
14.37
0.35
0.22
98.66
3.47
-5.47
-19.58
-9.00

0.10
25.94
10.72
0.34
0.28
111.48
4.92
-13.65
-69.00
-25.44

0.17
23.92
10.47
0.36
0.46
107.12
15.61
-18.26
-152.01
-33.41

0.10
36.60
34.01
0.13
0.19
143.12
-25.20
-9.40
-746.71
-20.09

0.06
26.55
12.48
0.24
0.19
103.60
-14.65
-6.23
109.56
-12.53

23,130

23,536

28,071

28,997

12,456

72,773

121,433

96,845

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

315

1.35

10.90

11.60

11.53

8.72
-0.90
-75.39
-0.01
-2.58
-1.06

7.73
-0.01
-26.54
0.14
-1.59
-1.78

7.13
0.00
0.15
14.37

-16.28
0.00
-2.35
9.01

-43.16
0.00
-5.25
6.05

-56.93
0.00
-5.97
1.76

Financial Statement Analysis of Non Financial Sector 2010

Metropolitan Steel 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

2005

2006

2007

2008

719,608

748,614

2,494,841

2,535,959

752,066
719,608
25,323
0

807,521
748,614
26,449
0

2,507,104
2,494,841
30,579
0

2,565,109
2,535,959
16,887
0

463,325
24,391
134,197
207,689
16
97,032
399,369
35,887
363,482
1,255,891

481,535
759
158,896
210,981
283
110,616
417,277
34,977
382,300
1,267,777

563,552
2,648
159,067
270,815
565
130,457
492,255
35,574
456,681
1,264,776

788,104
654
224,259
357,932
273
204,986
745,713
147,415
598,298
1,283,524

1,255,891
(472,327)
309,776
309,776
0
(782,103)

1,267,777
(454,905)
309,776
309,776
0
(764,681)

1,264,776
1,301,362
309,776
309,776
0
991,586

1,283,524
1,294,826
309,776
309,776
0
985,050

1,565,746
1,563,044
2,702
1,443,832

1,474,154
1,474,154
0
1,393,353

1,528,218
1,528,218
0
1,478,618

1,455,742
1,391,284
64,458
1,411,217

121,914
55,002

80,801
42,392

49,600
55,477

44,525
67,015

(Thousand Rupees)
2009
2010
2,535,959
0
2,535,959
2,535,959
16,887
0
0
0
788,104
654
224,259
357,932
273
204,986
0
0
0
1,283,524
0
0
0
0
1,283,524
1,294,826
309,776
309,776
0
985,050
0
985,050
0

2,535,959
0
2,535,959
2,535,959
16,887
0
0
0
788,104
654
224,259
357,932
273
204,986
0
0
0
1,283,524
0
0
0
0
1,283,524
1,294,826
309,776
309,776
0
985,050
0
985,050
0
1,455,742
1,391,284
64,458
1,411,217
0
1,411,217
44,525
67,015
0
67,015
0
12,685
0
(35,175)
6,714
0
0
35,645
2,578,350
0
(41,889)
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

63,423
6,797
0
0

34,271
6,400
0
0

529
7,023
0
0

470
6,714
0
0

1,455,742
1,391,284
64,458
1,411,217
0
1,411,217
44,525
67,015
0
67,015
0
12,685
0
(35,175)
6,714
0
0
35,645

783,564
0
56,626
35,887

812,872
0
27,871
34,977

2,566,138
0
(6,494)
35,574

2,578,350
0
(6,244)
147,415

2,578,350
0
(41,889)
0

0.58
0.38
13.26
1.32
1.16
92.21
-3.50
5.94
-12.65
8.41

0.51
0.38
14.31
1.20
1.15
94.52
-3.70
2.84
-7.39
4.29

0.56
0.50
17.72
0.50
1.14
96.75
1.35
0.02
0.12
0.03

0.48
0.87
24.59
0.44
1.06
96.94
1.57
0.01
0.04
0.02

55,002

42,392

55,477

67,015

5,958

5,641

7,694

12,685

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

316

0.87
24.59
0.44

0.87
24.59
0.44

96.94
0.99
-1.06
-2.72
-1.36

96.94
0.99
-1.06
-2.72
-1.36

11.67

9.28

9.61

6.49

6.49

6.49

4.05
0.00
1.83
-15.25

2.32
0.00
0.90
-14.68

0.03
0.00
-0.21
42.01

0.03
0.00
-0.20
41.80

-2.42
0.03
-1.35
41.80

-2.42
0.03
-1.35
41.80

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

53,112

51,447

50,351

48,343

47,345

148,273
53,112
5,586
0

152,495
51,447
5,887
0

155,950
50,351
5,727
0

158,054
48,343
4,112
0

159,327
45,649
113,678

159,259
42,026
117,233

415,602
7,453
351,832
17,230
0
39,087
397,761
216,368
181,393
2,016

417,960
8,742
339,065
40,714
0
29,439
400,498
261,486
139,012
480

401,215
10,049
337,960
31,487
0
21,719
379,677
268,284
111,393
1,310

467,618
1,635
396,358
40,537
0
29,088
405,902
266,246
139,656
37,465

1,696
407,838
2,515
344,982
26,426
0
33,915
367,023

1,619
316,534
210
258,969
42,581
0
14,774
400,056

2,016
68,937
34,000
34,000
0
34,937

43,645

367,023
85,177

400,056
73,626

480
68,429
34,000
34,000
0
34,429

1,310
70,579
34,000
34,000
0
36,579

37,465
72,594
34,000
34,000
0
38,594

0
0
85,177
2,982
34,000
34,000
0
(31,018)

515,425
514,970
455
448,965

518,949
12,192
506,757
443,021

599,193
24,694
574,499
519,068

651,452
3,448
648,004
572,248

66,460
40,541

75,928
39,453

80,125
44,539

79,204
41,152

73,626
(113,503)
34,000
34,000
0
(147,503)

(31,018)

(147,503)

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
(65,581)
4,029

180,114
150,178
29,936
228,453
121,162
107,291
(48,339)
27,760
16,625
11,135
33,426
39,081
36,374
(115,044)
1,441

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

40,541

39,453

44,539

41,152

13,499

25,638

24,532

29,831

12,686
4,550
2,550
0

10,897
5,725
3,400
0

11,384
6,500
3,400
0

8,230
6,497
0
0

70,953
0
5,586
216,368

68,909
0
1,772
261,486

0.06
2.62
3.34
1.10
1.04
87.11
5.80
2.98
19.70
19.39
3.19
1.46

0.12
4.94
7.85
1.11
1.04
85.37
5.86
2.32
15.87
15.58
1.52
1.53

0
(52,030)

0
(2,716)

71,889
0
1,484
268,284

110,059
0
1,733
266,246

88,159
0
(69,610)
0

(39,877)
0
(116,485)
0

0.11
4.09
5.25
1.33
1.06
86.63
5.40
2.47
16.38
16.17
1.44
1.77

0.10
4.58
6.22
1.26
1.15
87.84
6.11
1.70
11.50
9.05

0.08
9.27
7.01
0.83
1.11
99.70
151.64
-13.51
-173.55
-66.17

0.11
21.70
23.64
0.50
0.79
126.84
-4.17
-28.22
208.18
-476.55

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

317

1.64

1.09
-1.15
-17.39
-0.12
-20.47
0.88

0.70
-2.16
-63.87
-0.01
-34.26
-33.38

2.46
0.00
2.39
20.28

2.10
0.00
1.52
20.13

1.90
0.00
1.44
20.76

1.26
0.00
0.51
21.35

Financial Statement Analysis of Non Financial Sector 2010

Pakistan Engineering Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

1,771,268

1,763,133

1,765,647

1,819,125

2,058,393
1,771,268
11,887
0

2,059,019
1,763,133
11,021
0

2,072,913
1,765,647
12,098
0

2,137,195
1,819,125
13,077
0

770,350
45,776
362,652
0
0
361,922
618,937
453,797
165,140
1,792,656

710,086
32,916
214,924
212,784
60,939
188,523
441,319
255,678
185,641
1,792,381

866,464
104,921
211,706
261,185
51,500
237,152
219,601
41,103
178,498
1,941,110

902,982
24,482
268,784
366,921
31,500
211,295
237,692
27,461
210,231
1,940,555

1,792,656
130,025
56,902
56,902
0
73,123

(Thousand Rupees)
2009
2010
4,913,690
2,559
4,888,136
4,592,772
15,189

5,201,551
5,684
4,937,938
4,879,205
30,073

318,359
1,104,236
28,250
445,460
347,364
0
283,162
366,390

316,662
966,458
83,676
307,565
298,301
0
276,916
238,057

366,390
1,903,879

238,057
1,944,079

1,792,381
239,519
56,902
56,902
0
182,617

1,941,110
471,400
56,902
56,902
0
414,498

1,940,555
543,860
56,902
56,902
0
486,958

0
0
1,903,879
3,747,657
56,902
56,902
0
(1,046,203)

(1,046,203)
4,736,958

(984,063)
4,913,034

979,991
979,991
0
715,858

959,886
959,886
0
742,444

1,123,150
1,123,150
0
899,987

1,184,480
1,184,480
0
954,288

1,361,633
1,361,633

1,677,379
1,677,379

264,133
170,971

217,442
92,595

223,163
76,248

230,192
72,247

1,944,079
3,985,873
56,902
56,902
0
(984,063)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,371,129
901,741
469,388
306,250
97,060
11,961
85,099
113,462
26,875
20,382
188,195
69,091
56,902
0
243,425
5,929,952
0
62,202
0

92,390
4,261
0
0

113,668
4,174
0
0

201,628
4,917
31,296
0

168,469
59,022
0
0

1,035,306
981,724
53,582
326,327
86,413
14,168
72,245
91,431
83,052
77,292
201,171
67,223
71,128
0
90,487

1,922,681
0
88,129
453,797

2,031,900
0
109,494
255,678

2,412,510
0
165,415
41,103

2,484,415
0
109,447
27,461

5,651,536
0
62,821
0

0.07
2.02
0.00
0.39
1.24
73.05
18.55
3.85
102.54
5.11

0.69
1.87
22.17
0.39
1.61
77.35
9.33
4.53
61.52
5.75

1.90
0.76
23.25
0.43
3.95
80.13
4.58
7.90
56.72
9.07
6.29
5.31

1.78
0.70
30.98
0.44
3.80
80.57
4.01
6.29
33.19
6.88

170,971

92,595

76,248

72,247

19,815

17,994

8,591

8,260

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

318

2.70

4.47

4.41

9.43
0.00
15.49
22.85

11.84
0.00
19.24
42.09

17.95
0.00
34.57
82.84

14.22
0.00
19.23
95.58

1.03
6.10
25.51
0.23
3.01
76.03
0.61
4.60
9.38
4.95
1.88
3.06
3.60
14.77
0.04
23.54
658.62

1.60
1.60
17.78
0.27
4.06
81.74
0.55
3.09
4.87
3.25
2.09
5.45
10.23
11.22
0.11
20.93
700.48

Financial Statement Analysis of Non Financial Sector 2010

Pakistan Tobacco Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

3,798,190

4,529,366

5,154,326

5,599,758

5,985,834
3,798,190
426,887
0

7,108,415
4,529,366
482,186
0

8,190,852
5,154,326
537,851
0

9,100,682
5,599,758
594,843
0

4,170,263
57,605
3,780,931
2,894
5,000
323,833
4,329,039
400,662
3,928,377
0

4,205,034
62,883
3,790,853
2,406
5,000
343,892
4,595,213
1,293,141
3,302,072
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

4,795,283
69,172
4,059,063
2,666
5,000
659,382
6,786,710
572,397
6,214,313
0

0
3,639,414
2,554,938
2,554,938
0
1,084,476

(Thousand Rupees)
2009
2010
5,984,333
469,070
9,455,353
5,483,038
656,754

5,867,528
201,773
10,220,473
5,621,915
744,844

32,225
6,242,528
47,874
5,765,367
1,684
0
427,603
6,856,780

43,840
6,510,899
51,945
6,002,823
1,597
0
454,534
7,638,759

6,856,780
1,109,847

7,638,759
1,137,581

0
4,139,187
2,554,938
2,554,938
0
1,584,249

0
4,022,857
2,554,938
2,554,938
0
1,467,919

0
3,608,331
2,554,938
2,554,938
0
1,053,393

0
0
1,109,847
4,260,234
2,554,938
2,554,938
0
1,705,296

30,615,062
30,615,062
0
26,085,458

35,715,451
35,715,451
0
30,181,931

40,889,275
40,889,275
0
34,379,318

49,053,928
49,053,928
0
41,777,169

4,529,604
2,436,606

5,533,520
2,689,875

6,509,957
2,848,699

7,276,759
3,449,869

1,137,581
3,602,087
2,554,938
2,554,938
0
1,047,149

1,705,296

1,047,149

21,666,525
21,666,525

20,952,629
20,952,629

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,436,606

2,689,875

2,848,699

3,449,869

45,351

51,060

50,317

53,324

13,442,066
10,954,093
2,487,973
8,224,459
3,861,493
2,246,014
1,615,479
2,042,108
(59,024)

14,747,717
10,525,185
4,222,532
6,204,912
4,720,766
3,279,390
1,441,376
2,184,463
112,747

2,082,064
633,809
638,735
0

2,860,673
880,264
1,890,654
0

3,713,575
1,165,086
996,426
0

3,893,717
1,246,221
2,443,798
0

4,648,489
1,626,083
3,065,926
0
2,545,368

1,418,009
492,909
855,904
0
1,148,900

3,639,414
0
809,520
400,662

4,139,187
0
89,755
1,293,141

4,022,857
0
1,552,063
1,038,550

3,608,331
0
203,698
572,397

5,370,081
0
(43,520)
0

4,739,668
0
69,196
0

0.01
0.11
0.01
4.72
0.71
85.17
1.88
38.51
102.05
102.05
1.08
12.09

0.01
-0.27
0.01
1.77
0.91
62.04
1.87
41.10
118.15
103.55
0.99
3.76

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.02
0.15
0.01
3.84
0.96
85.20
1.19
27.77
60.31
60.31
2.27
8.10

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

319

0.02
0.14
0.01
4.09
0.92
84.51
1.11
34.25
73.55
73.55
1.05
9.42

0.03
0.12
0.01
4.16
0.81
84.08
1.44
40.02
91.00
91.00
2.56
10.23

0.01
0.54
0.01
1.69
0.85
70.39
2.44
11.53
36.07
28.05
1.08
3.49

6.80
0.00
5.67
14.24

8.01
0.00
7.75
16.20

9.08
0.00
9.97
15.75

7.94
0.00
10.36
14.12

21.45
0.32
11.83
16.67

6.77
0.13
3.62
14.10

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,139,086

2,469,399

2,805,140

3,322,278

3,511,640
2,014,013
461,431
125,073

4,257,470
2,406,862
376,869
62,537

4,989,619
2,805,140
397,640
0

5,669,077
3,322,278
398,311
0

3,553,775
1,401,661
1,104,197
769,861
0
278,056
1,488,341
0
1,488,341
0

3,511,604
607,281
2,009,053
100,647
400,115
394,508
1,024,722
0
1,024,722
0

3,788,069
775,758
2,463,179
85,099
0
464,033
1,026,216
0
1,026,216
0

6,117,506
46,718
5,327,107
36,181
1
707,499
3,445,823
770,668
2,675,155
0

0
4,204,520
513,168
513,168
0
3,691,352

(Thousand Rupees)
2009
2010
3,889,196
679,663
6,202,477
3,166,076
483,052

3,899,779
413,365
6,897,418
3,434,314
551,079

43,457
6,703,558
109,559
5,880,236
65,847
0
647,916
3,381,825

52,100
8,907,484
15,104
7,706,696
164,240
0
1,021,444
5,170,442

3,381,825
391,000

5,170,442
472,000

0
4,956,281
615,803
615,803
0
4,340,478

0
5,566,993
615,803
615,803
0
4,951,190

0
5,993,961
615,803
615,803
0
5,378,158

0
0
391,000
6,819,929
615,803
615,803
0
6,204,126

23,320,637
23,320,637
0
19,240,350

20,619,711
20,619,711
0
16,443,164

22,425,268
22,425,268
0
17,934,793

24,937,931
24,937,931
0
20,621,464

4,080,287
1,554,912

4,176,547
1,854,028

4,490,475
1,910,073

4,316,467
2,601,867

472,000
7,164,821
615,803
615,803
0
6,549,018

6,204,126

6,549,018

13,400,669
13,400,669

13,302,502
13,302,502

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,554,912

1,854,028

1,910,073

2,601,867

9,079

10,654

19,148

45,639

8,431,334
5,049,456
3,381,878
4,969,335
3,482,977
2,640,804
842,173
1,109,809
89,336
71,114
1,500,133
541,749

8,956,591
5,549,885
3,406,706
4,345,911
3,425,620
2,540,291
885,329
1,170,341
137,275
128,293
876,679
304,117
30,790
0
(1,062,531)

2,571,950
862,000
638,000
0

2,380,124
822,000
769,754
123,160

2,631,296
780,000
523,432
0

1,745,319
537,059
554,223
0

0
1,122,363

4,204,520
0
1,071,950
0

4,956,281
0
788,370
0

5,566,993
0
1,327,864
0

5,993,961
0
654,037
770,668

7,210,929
0
958,384
0

7,636,821
0
541,772
0

0.02
0.18
0.15
2.64
1.78
82.69
0.57
21.77
30.19
30.19
2.18
4.68

0.05
0.67
0.49
1.27
1.98
62.92
0.55
14.98
23.41
22.72

0.03
1.03
1.23
1.04
1.72
67.33
0.79
7.49
12.54
11.81
18.60
1.73
7.83
6.59
-0.19
9.30
116.35

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.46
0.04
3.30
4.10
2.39
82.50
0.35
48.01
75.54
75.54
2.68
21.12

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

320

1.08
0.05
0.49
3.45
3.43
79.74
0.21
40.78
51.96
51.96
2.02
10.26

0.84
0.09
0.38
3.40
3.69
79.98
0.18
41.85
50.01
50.01
3.54
9.10

11.03
0.00
33.32
81.93

11.54
0.00
25.30
80.48

11.73
0.00
30.06
90.40

7.00
0.00
19.62
97.34

2.28
22.09
11.19
0.30
15.56
110.75

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

505,414

692,993

829,815

887,382

1,042,769
505,414
41,547
0

1,284,385
692,993
59,386
0

1,477,659
829,815
81,587
0

1,611,369
887,382
96,295
0

1,822,067
4,757
778,765
785,172
7,200
246,173
1,497,883
894,316
603,567
265,361

1,784,671
5,866
836,659
718,959
0
223,187
1,445,040
841,377
603,663
402,878

1,620,830
7,485
698,556
652,980
0
261,809
1,319,419
606,365
713,054
376,086

2,454,492
7,014
1,182,566
194,590
0
1,070,322
1,989,626
925,853
1,063,773
310,558

265,361
564,237
120,288
120,288
0
443,949

402,878
629,746
120,288
120,288
0
509,458

376,086
755,140
120,288
120,288
0
634,852

310,558
1,041,690
120,288
120,288
0
921,402

3,820,322
2,809,601
1,010,721
3,352,012

4,152,345
3,267,663
884,682
3,572,405

4,871,917
3,788,926
1,082,991
4,155,942

6,877,304
5,327,713
1,549,591
5,839,151

468,310
286,050

579,940
288,762

715,975
335,730

1,038,153
406,689

(Thousand Rupees)
2009
2010
1,034,220
103,005
1,666,076
920,720
102,644

1,439,494
104,865
2,192,751
1,320,304
130,244

10,495
2,617,148
208,445
1,253,241
793,032
0
362,430
1,797,360

14,325
3,103,365
247,951
1,358,128
897,675
0
599,611
2,375,987

1,797,360
331,924
142,073

2,375,987
467,046
214,263

0
0
189,851
1,522,084
120,288
120,288
0
1,401,796

252,783
1,699,826
120,288
120,288
0
1,579,538

1,401,796

1,579,538

9,421,408
7,426,694
1,994,714
8,127,972
5,881,292
2,246,680
1,293,436
647,425
269,522
377,903
1,199,069
177,727
151,661
487,932
159,827
90,216
0
228,195

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

74,336
17,077
18,043
0

143,881
26,108
36,086
0

236,180
37,459
54,130
0

478,203
127,803
0
0

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
275,162
240,576
0
887,469

829,598
0
39,216
894,316

1,032,624
0
81,687
841,377

1,131,226
0
144,591
606,365

1,352,248
0
350,400
925,853

1,854,008
142,073
420,250
142,073

2,166,872
214,263
237,889
214,263

0.53
3.04
20.55
1.64
1.22
87.74
3.13
3.36
13.71
9.98
3.17
4.91

0.50
3.77
17.31
1.68
1.24
86.03
2.93
5.99
24.10
15.45
3.26
4.96

0.50
3.09
13.40
1.99
1.23
85.30
2.25
9.58
34.11
21.83
3.67
6.97

0.10
2.40
2.83
2.06
1.23
84.90
2.21
16.51
53.23
38.51

0.56
2.09
10.33
2.10
1.46
79.25
1.40
26.77
73.02
58.39
2.75
6.13
9.04
12.19
0.42
54.94
126.54

0.48
1.89
9.53
2.07
1.31
86.27
1.67
11.91
30.29
24.27
3.64
6.94
4.22
5.18
0.08
27.28
141.31

286,050

288,762

335,730

406,689

116,075

156,489

150,342

165,194

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

321

5.82

1.95
0.00
4.76
46.91

3.47
0.00
9.79
52.35

4.85
0.00
16.52
62.78

6.95
0.00

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

103,514

114,578

125,251

154,782

205,338
103,514
12,223
0

228,962
114,578
13,519
0

252,084
125,251
15,131
0

269,002
154,782
14,099
0

72,889
325
57,746
1,386
0
13,432
57,456
18,160
39,296
0

91,715
1,370
73,461
1,738
0
15,146
75,103
16,502
58,601
0

165,650
799
107,891
35,111
0
21,849
162,294
75,358
86,936
0

145,335
122
99,313
8,120
0
37,780
170,239
72,039
98,200
0

0
118,947
30,000
30,000
0
88,947

(Thousand Rupees)
2009
2010
207,355
46,956
160,181

275,584
28,385
238,272

16,152

17,974
784

160,399
150,879
372
121,530
5,471
0
23,506
148,218

246,415
150,381
469
119,921
4,887
0
25,104
146,301

148,218
78,320

146,301
125,833

0
131,190
30,000
30,000
0
101,190

0
128,607
30,000
30,000
0
98,607

0
129,878
30,000
30,000
0
99,878

0
0
78,320
131,696
30,000
30,000
0
101,696

292,685
292,239
446
192,059

363,685
363,685
0
234,378

430,623
430,030
593
286,043

512,013
510,919
1,094
370,277

100,626
91,821

129,307
107,208

144,580
125,033

141,736
125,391

125,833
153,831
39,000
39,000

114,831

101,696

114,831

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
21,285
3,900
0
65,124

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

7,640
175
0
0

17,902
2,550
3,750
0

13,230
2,500
4,500
0

9,430
250
3,000
0

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
9,000
61,504

118,947
0
7,465
18,160

131,190
0
11,602
16,502

128,607
0
6,230
75,358

129,878
0
6,180
72,039

210,016
0
4,819
0

279,664
0
18,234
0

0.03
0.49
0.47
1.66
1.27
65.62
0.48
4.42
6.54
6.54

0.04
1.22
0.48
1.76
1.22
64.45
0.57
9.36
14.31
14.31
4.09
4.95

0.22
1.54
8.15
1.48
1.02
66.43
1.26
5.32
10.18
10.18
2.38
3.99

0.05
1.40
1.59
1.71
0.85
72.32
1.31
3.19
7.30
7.30
3.06
5.16

0.04
2.08
1.12
1.37
1.02
69.98
1.72
3.60
9.07
6.98

0.04
1.34
0.74
1.55
1.03
69.97
1.77
11.07
30.41
17.73
5.68
5.51
6.18
6.57
0.24
5.68
39.44

91,821

107,208

125,033

125,391

1,435

4,438

6,624

7,186

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.07

322

2.61
0.00
2.49
39.65

4.92
0.00
5.12
43.73

3.07
0.00
3.58
42.87

1.84
0.00
3.06
43.29

4.02
2.21
2.43
0.27
1.61
43.90

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

944,978

876,761

843,555

1,292,695
944,978
57,457
0

1,337,540
876,761
49,406
0

1,298,245
843,555
44,749
0

1,660,388
190,732
1,079,358
394,176
0
(3,878)
1,160,512
1,047,258
113,254
0

1,350,967
363,382
159,151
702,013
0
126,421
605,159
474,326
130,833
0

2,134,798
258,849
1,031,817
306,647
0
537,485
1,304,416
1,115,541
188,875
0

(Thousand Rupees)
2009
2010
819,059
17,540
1,290,654
793,962
42,869

852,923
59,256
1,321,778
786,209
42,042

7,557
2,568,425
82,973
1,755,818
410,320
0
319,314
1,956,180

7,458
1,793,477
35,604
1,035,091
308,974
0
413,808
1,244,752

1,956,180
133,976

1,244,752
144,689

0
1,444,854
713,819
713,819
0
731,035

0
1,622,569
785,201
785,201
0
837,368

0
1,673,937
785,201
785,201
0
888,736

0
0
133,976
1,297,327
785,201
785,201
0
512,126

3,227,930
3,227,930
0
2,734,444

3,510,254
3,510,254
0
3,101,940

2,922,426
2,922,426
0
2,549,637

493,486
77,844

408,314
81,981

372,789
119,216

144,689
1,256,959
785,201
785,201
0
471,758

512,126

471,758

2,639,940
2,625,728
14,212
2,412,527
2,333,731
78,796
227,413
117,290
17,363
99,927
84,334
139,503
128,497
(118,165)
(1,659)
78,520
0
(229,629)

3,247,871
3,244,075
3,796
2,995,235
2,547,336
447,899
252,636
107,362
21,073
86,289
97,317
131,269
123,023
66,611
(28,459)
58,890
0
677,770

1,431,303
0

1,401,648
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

77,844

81,981

119,216

61,351

62,223

59,462

355,762
16,929
71,382
71,382

266,027
15,210
117,780
0

181,137
11,989
117,780
0

1,444,854
0
267,451
1,047,258

1,622,569
0
133,037
474,326

1,673,937
0
51,368
1,115,541

0.50
1.90
12.21
1.24
1.43
84.71
0.80
13.65
24.62
24.62
4.75
2.99

1.76
1.77
20.00
1.58
2.23
88.37
0.37
11.01
17.35
17.35
2.13
22.06

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

323

0.43
2.03
10.49
0.98
1.64
87.24
0.78
6.96
10.99
10.99
1.44
2.83

11.02
0.00
4.75
20.24

7.58
0.00
3.19
20.66

6.20
0.00
2.15
21.32

0.25
5.28
15.54
0.78
1.31
91.39
1.61
-3.71
-7.95
-7.61

0.28
4.04
9.51
1.23
1.44
92.22
1.11
2.21
5.22
4.70

1.50
0.08
-4.48
-0.11

3.14
1.54
2.05
0.49

16.52

16.01

Financial Statement Analysis of Non Financial Sector 2010

Syed Match Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

12,405

11,925

11,485

11,087

32,455
12,405
536
0

32,461
11,925
486
0

32,461
11,485
440
0

32,461
11,087
398
0

10,786
928
7,103
70
0
2,685
49,260
0
49,260
0

9,799
101
6,781
56
0
2,861
60,678
0
60,678
0

16,030
303
11,457
88
0
4,182
75,343
0
75,343
0

18,383
1,739
11,623
2,129
0
2,892
79,910
7,000
72,910
0

0
(26,069)
3,000
3,000
0
(29,069)

0
(38,954)
3,000
3,000
0
(41,954)

0
(47,828)
3,000
3,000
0
(50,828)

0
(50,440)
3,000
3,000
0
(53,440)

40,123
36,292
3,831
44,087

32,078
32,078
0
36,201

26,601
23,312
3,289
33,518

30,366
30,366
0
31,089

(3,964)
1,295

(4,123)
1,098

(6,917)
1,189

(723)
989

(Thousand Rupees)
2009
2010
11,087
0
32,461
11,087
398
0
0
0
18,383
1,739
11,623
2,129
0
2,892
79,910
7,000
72,910
0
0
0
0
0
0
(50,440)
3,000
3,000
0
(53,440)
0
(53,440)
0

11,087
0
32,461
11,087
398
0
0
0
18,383
1,739
11,623
2,129
0
2,892
79,910
7,000
72,910
0
0
0
0
0
0
(50,440)
3,000
3,000
0
(53,440)
0
(53,440)
0
30,366
30,366
0
31,089
0
31,089
(723)
989
0
989
0
769
0
(2,481)
131
0
0
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(5,276)
204
0
0

(5,222)
139
0
0

(8,744)
129
0
0

(2,481)
131
0
0

30,366
30,366
0
31,089
0
31,089
(723)
989
0
989
0
769
0
(2,481)
131
0
0
0

(26,069)
0
(5,480)
0

(38,954)
0
(5,361)
0

(47,828)
0
(8,873)
0

(50,440)
0
(2,612)
7,000

(50,440)
0
(2,612)
7,000

(50,440)
0
(2,612)
7,000

0.02
0.04
0.17
1.73
0.22
109.88
-1.89
-25.36
22.64
22.64

0.00
0.00
0.17
1.48
0.16
112.85
-1.56
-23.25
16.06
16.06

0.01
2.40
0.33
0.97
0.21
126.00
-1.58
-35.52
20.15
20.15

0.05
2.53
7.01
1.03
0.23
102.38
-1.58
-8.71
5.05
5.05

0.05
2.53
7.01
1.03
0.23
102.38
-1.58
-8.42
4.92
4.92

0.05
2.53
7.01
1.03
0.23
102.38
-1.58
-8.42
4.92
4.92

1,295

1,098

1,189

989

17

638

769

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

324

5.65

4.73

2.32

2.61

2.61

2.61

-13.15
0.00
-18.27
-86.90

-16.28
0.00
-17.87
-129.85

-32.87
0.00
-29.58
-159.43

-8.17
0.00
-8.71
-168.13

-8.17
0.00
-8.71
-168.13

-8.17
0.00
-8.71
-168.13

Financial Statement Analysis of Non Financial Sector 2010

Thal Limited ( 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

2005

2006

2007

2008

156,020

272,300

297,619

506,381

466,763
156,020
32,095
0

789,817
272,300
55,538
0

868,915
297,619
67,621
0

1,121,898
506,381
62,832
0

1,496,073
140,263
837,116
383,658
35,734
99,302
436,502
151,282
285,220
9,609

2,941,183
180,446
1,609,536
613,639
294,439
243,123
767,316
222,141
545,175
14,340

3,403,463
865,478
1,465,851
507,898
368,988
195,248
654,452
190,973
463,479
13,515

5,128,960
76,323
2,012,300
648,702
2,019,658
371,977
1,518,292
771,312
746,980
373,889

9,609
1,205,982
69,566
69,566
0
1,136,416

14,340
2,431,827
69,566
69,566
0
2,362,261

13,515
3,033,115
117,114
117,114
0
2,916,001

373,889
3,743,160
152,248
152,248
0
3,590,912

4,045,954
3,798,610
247,344
3,346,583

6,006,405
5,622,165
384,240
4,851,992

6,896,020
6,431,421
464,599
5,587,524

9,861,759
9,328,651
533,108
8,436,738

699,371
150,003

1,154,413
292,522

1,308,496
345,612

1,425,021
636,266

(Thousand Rupees)
2009
2010
6,043,884
17,033
5,945,044
4,705,476
354,688
6,912
797,102
517,361
4,305,646
598,641
2,692,050
403,077
25,338
586,540
2,705,623
895,626
1,809,997
958,544
958,544
0
0
0
0
6,685,363
213,147
213,147
0
6,472,216
1,699,465
4,772,751
0

5,594,431
5,729
6,067,090
4,453,068
406,840
3,944
942,948
188,742
5,703,567
819,901
3,021,547
951,945
26,255
883,919
3,847,600
1,196,126
2,651,474
1,246,656
1,246,656
0
0
0
0
6,203,742
255,777
255,777
0
5,947,965
101,678
5,846,287
0
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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

596,374
191,012
86,958
0

963,538
300,053
0
13,913

1,078,935
339,897
81,980
35,134

1,061,047
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

1,215,591
0
318,404
151,282

2,446,167
0
663,485
222,141

3,046,630
0
657,058
190,973

4,117,049
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

1.28
0.39
9.48
2.45
3.43
82.71
0.37
39.94
59.10
58.69
4.66
4.83

1.42
0.23
10.22
1.87
3.83
80.78
0.32
39.61
52.97
52.63

2.66
0.46
7.37
1.86
5.20
81.03
0.22
31.21
39.49
39.29
9.01
4.70

1.81
0.57
6.58
1.75
3.38
85.55
0.51
22.73
31.32
29.62

0.38
1.76
2.44
1.59
1.59
87.58
0.55
6.53
10.02
8.88
3.35
6.13
2.83
3.17
0.28
6.69
313.65

0.47
1.09
4.38
1.92
1.48
85.18
0.82
16.63
27.92
23.84
4.81
7.19
8.82
8.29
0.20
38.49
242.54

150,003

292,522

345,612

636,266

15,869

13,920

31,455

56,638

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

325

3.73

4.90

14.74
0.00
58.27
173.36

16.04
0.00
47.69
174.79

15.65
0.00
31.55
129.49

10.76
0.00
34.85
122.93

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

386,355

475,402

871,003

954,637

2,501,262

766,809
386,355
28,294
0

868,314
475,402
27,225
0

1,087,772
871,003
40,834
0

1,433,429
954,637
57,719
0

1,879,408
1,373,630
50,438

1,401,848
205,538
147,277
144,846
561,825
342,362
534,847
325,351
209,496
784

1,556,843
422,593
253,276
22,300
642,902
215,772
772,041
544,272
227,769
1,595

1,341,716
133,281
302,397
93,318
538,531
274,189
782,678
544,972
237,706
507

1,780,788
119,376
548,998
148,333
236,036
728,045
1,383,306
1,128,971
254,335
0

754,810
372,822
1,053,598
80,224
251,451
295,019
124,590
302,314
1,583,471

565,283
147,113
1,394,141
83,095
271,940
319,421
434,663
285,022
1,717,163

784
1,252,572
41,822
41,822
0
1,210,750

2,381,137
136,090
2,090,792
1,532,651
61,604

1,583,471
77,547

1,717,163
59,483

1,595
1,258,609
41,822
41,822
0
1,216,787

507
1,429,534
41,822
41,822
0
1,387,712

0
1,352,119
41,822
41,822
0
1,310,297

0
0
77,547
1,893,842
41,822
41,822
0
1,081,687

1,081,687
770,333

816,052
764,358

1,395,403
1,098,823
296,580
956,968

1,476,325
1,109,991
366,334
1,198,103

1,457,197
1,039,320
417,877
1,201,335

1,287,954
833,082
454,872
1,126,540

438,435
198,102

278,222
196,903

255,862
216,329

161,414
125,333

2,821,675
2,139,355
682,320
2,300,787
1,655,327
645,460
520,888
413,427
234,959
178,468
669,456
168,827
161,580
(10,493)
21,950

3,691,492
2,805,460
886,032
2,986,473
2,140,875
845,598
705,019
414,157
279,607
134,550
560,865
210,795
200,929
281,536
1,685
209,111
3,763,998
(34,640)
2,058,115
0
70,740
0

59,483
1,998,632
418,222
418,222
0
816,052

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

198,102

196,903

216,329

125,333

15,169

22,402

60,285

83,570

287,344
73,887
62,733
0

101,201
10,001
8,365
0

102,261
18,223
8,364
0

31,467
5,085
0
0

0
81,089

1,253,356
0
150,724
325,351

1,260,204
0
82,835
544,272

1,430,041
0
75,674
544,972

1,352,119
0
26,382
1,128,971

1,971,389
0
(32,443)
0

1.71
1.09
10.38
0.78
2.62
68.58
0.43
17.54
25.55
25.53
3.40
9.47

1.41
1.52
1.51
0.73
2.02
81.15
0.61
5.30
8.06
8.05
10.90
5.83

0.98
4.14
6.40
0.66
1.71
82.44
0.55
4.82
7.61
7.60
10.05
4.82

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

326

0.36
6.49
11.52
0.47
1.29
87.47
1.02
1.27
2.26
2.26

0.32
5.98
10.46
0.79
0.67
81.54
0.88
-0.33
-0.65
-0.63

2.35

11.22
0.94
-0.37
0.05
-7.76
452.83

20.59
0.00
51.04
299.50

6.85
0.00
21.81
300.94

7.02
0.00
20.09
341.81

2.44
0.00
6.31
323.30

0.49
5.71
8.65
0.98
0.81
80.90
0.89
7.68
14.47
13.97
1.34
13.57
2.40
7.63
-0.02
6.69
47.79

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,879,300

1,703,966

1,608,744

2,111,285

2,876,601
1,879,300
225,455
0

2,786,027
1,703,966
228,582
0

3,072,196
1,608,744
244,345
0

3,835,189
2,111,285
265,769
0

878,661
23,519
313,917
391,637
0
149,588
796,779
308,335
488,444
972,000

1,108,323
208,867
276,990
465,422
0
157,044
974,225
216,000
758,225
756,000

1,732,911
325,295
640,772
534,197
50,389
182,258
1,549,047
216,000
1,333,047
540,000

2,201,911
297,117
950,426
681,822
0
272,546
2,176,991
865,878
1,311,113
824,000

972,000
989,182
300,000
300,000
0
689,182

756,000
1,082,064
300,000
300,000
0
782,064

540,000
1,252,608
300,000
300,000
0
952,608

824,000
1,312,205
300,000
300,000
0
1,012,205

3,391,038
3,010,003
381,035
3,041,381

4,350,973
4,027,323
323,650
3,842,205

5,386,091
5,348,604
37,487
4,458,389

7,100,211
7,033,541
66,670
6,090,080

349,657
124,250

508,768
145,907

927,702
185,894

1,010,131
207,200

(Thousand Rupees)
2009
2010
2,096,745
6,021
4,114,167
2,069,838
328,074
19,708
0
1,178
2,420,082
229,766
1,201,391
887,659
0
101,266
2,035,195
606,312
1,428,883
885,352
608,000
0
0
0
277,352
1,596,280
300,000
300,000
0
1,296,280
0
1,296,280
0

1,873,582
9,429
4,243,320
1,844,554
359,590
17,836
0
1,763
2,526,163
350,210
1,289,457
767,252
0
119,244
2,001,096
295,873
1,705,223
607,524
375,000
0
0
0
232,524
1,791,125
300,000
300,000
0
1,491,125
0
1,491,125
0
9,273,386
8,989,410
283,976
8,053,635
6,400,820
1,652,815
1,219,751
318,693
148,458
170,235
82,523
205,346
201,083
722,994
275,702
300,000
0
1,309,747

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

120,457
15,058
0
0

244,255
19,198
150,000
0

674,370
148,270
300,000
0

723,657
134,210
420,000
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
891,315

1,961,182
0
105,399
308,335

1,838,064
0
75,057
216,000

1,792,608
0
226,100
216,000

2,136,205
0
169,447
865,878

2,481,632
608,000
90,082
1,214,312

2,398,649
375,000
147,292
670,873

0.52
3.45
11.55
1.23
1.10
89.69
1.79
4.35
12.42
6.16

0.69
3.00
10.70
1.55
1.14
88.31
1.60
8.77
23.59
12.86
1.50
15.71

0.59
1.73
9.92
1.61
1.12
82.78
1.67
21.92
57.77
37.15
1.75
8.41

0.45
1.53
9.60
1.65
1.01
85.77
2.29
18.91
56.43
36.84
1.40
7.47

0.55
3.22
12.90
1.52
1.19
85.60
1.83
12.66
38.43
24.20
1.30
5.73
3.56
8.12
0.31
13.00
53.21

0.56
2.21
8.27
2.11
1.26
86.85
1.46
16.22
42.69
29.63
1.49
7.19
4.60
7.80
0.50
14.91
59.70

124,250

145,907

185,894

207,200

117,064

130,595

93,167

108,844

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

10.80

327

3.55
0.00
3.51
32.97

5.61
0.00
7.50
36.07

12.52
0.00
17.54
41.75

10.19
0.00
19.65
43.74

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,209

11,578

7,540

5,969

0
0
0
0

3,676
1,917
215
292

15,632
11,212
2,752
366

12,525
6,927
1,827
613

12,525
6,927
1,298
340

12,525
5,629
1,037
120

1,263
1,246
0
0
0
17
215
0
215
0

60,651
11,914
22,836
10,407
0
15,494
57,239
260
56,979
0

113,299
7,208
59,630
147,775
0
(101,314)
116,215
1,032
115,183
3,564

147,851
11,396
72,375
23,005
0
41,075
148,532
1,239
147,293
1,786

0
1,048
12,000
12,000
0
(10,952)

4,992

(1,298)
161,935
20,200
76,504
26,093
0
39,138
106,684

(757)
194,592
31,757
84,101
45,252
0
33,482
138,442

106,684
73,585

138,442
72,098

0
5,621
12,000
12,000
0
(6,379)

3,564
5,098
12,000
12,000
0
(6,902)

1,786
5,073
12,000
12,000
0
(6,927)

0
0
73,585
(12,365)
12,000
12,000
0
(24,365)

0
0
0
0

122,510
122,510
0
108,294

334,720
334,720
0
291,039

514,813
514,813
0
468,432

0
151

14,216
9,209

43,681
74,040

46,381
74,292

72,098
(10,956)
12,000
12,000
0
(22,956)

(24,365)

(22,956)

580,269
580,269

711,461
711,461

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

151

9,209

74,040

74,292

13

492

1,568

1,378

521,829
525,958
(4,129)
58,440
73,778
49,817
23,961
25,933
1,528

624,298
631,896
(7,598)
87,163
64,635
52,077
12,558
27,053
11,853

(164)
0
0
0

4,515
1,580
0
0

6,210
3,895
0
0

6,036
2,395
12,000
0

(16,866)

10,675

0
(8,268)

0
0
12,226

1,048
0
(164)
0

5,621
0
2,935
260

8,662
0
2,315
1,032

6,859
0
(8,359)
1,239

61,220
0
(16,866)
0

61,142
0
10,675
0

5.80

0.39
0.40
8.49
1.95
1.06
88.40
10.18
14.08
135.40
135.40

1.33
0.47
44.15
2.68
0.97
86.95
23.50
6.62
115.87
86.96

0.23
0.27
4.47
3.31
1.00
90.99
29.63
4.31
118.69
77.78
0.30
7.11

0.43
0.26
4.50
3.46
1.52
89.93
-14.58
-10.43
462.59
-49.55

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.00
5.87

0.21
-12.37
-14.52
-14.52

0.00
-0.14
0.87

328

5.36

5.61

0.56
1.67
6.36
3.56
1.41
87.75
-19.22
5.81
-91.55
17.45

7.58

8.46

3.69
0.00
2.45
4.68

1.86
0.00
1.93
4.25

1.17
0.00
3.03
4.23

-2.91
-0.05
-14.06
-10.30

1.50
0.06
8.90
-9.13

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

175,646

211,221

278,189

274,961

0
175,646
0
0

252,172
211,221
19,097
0

309,437
276,641
22,514
1,548

330,144
273,967
25,738
994

242,052
23,731
126,711
6,172
46,575
38,863
151,069
18,613
132,456
19,952

270,109
47,737
121,857
7,893
49,201
43,421
235,441
19,729
215,712
1,497

280,817
59,067
134,432
4,726
27,930
54,662
251,767
0
251,767
0

369,392
34,161
258,767
10,633
0
65,831
324,650
0
324,650
0

19,952
246,677
40,000
40,000
0
206,677

1,497
244,392
40,000
40,000
0
204,392

0
307,239
40,000
40,000
0
267,239

1,027,704
1,027,704
0
856,716

(Thousand Rupees)
2009
2010
293,088
12,342
332,888
255,653
25,545
1,656

296,943
8,914
356,787
262,987
25,601
1,423

23,437
433,764
124,573
204,835
25,449
25,000
53,907
273,440

23,619
465,717
103,246
282,281
21,280
5,000
53,910
286,115

273,440
86,865

286,115
90,164

0
319,703
44,000
44,000
0
275,703

86,865
366,547
48,400
48,400

90,164
386,381
53,240
53,240

239,263

249,834

78,884

83,307

1,135,250
1,135,250
0
861,203

1,149,029
1,149,029
0
883,475

1,391,181
1,391,181
0
1,105,437

1,350,144
1,350,144

1,289,891
1,289,891

170,988
114,261

274,047
181,782

265,554
208,166

285,744
249,557

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

114,261

181,782

208,166

249,557

5,170

3,158

1,870

3,882

990,889
850,223
140,666
359,255
278,998
223,607
55,391
127,727
6,682
6,002
80,326
29,082

951,249
782,496
168,753
338,642
302,689
243,349
59,340
142,569
696
34
48,230
17,144
18,634
17,240
(5,657)

63,897
17,582
10,000
0

89,512
26,326
20,000
0

62,122
12,436
12,000
4,000

36,879
16,865
4,400
4,400

12,400
139,130

266,629
0
36,315
18,613

245,889
0
43,186
19,729

307,239
0
37,686
0

319,703
0
15,614
0

453,412
0
51,244
0

476,545
0
12,452
0

0.51
0.50
0.60
2.46
1.60
83.36
0.69
15.60
28.78
25.84
4.63
8.11

0.45
0.28
0.70
2.36
1.15
75.86
0.97
19.91
36.46
34.93
3.16
9.32

0.36
0.16
0.41
2.06
1.12
76.89
0.82
11.94
22.52
22.46
4.14
8.55

0.14
0.28
0.76
2.16
1.14
79.46
1.02
6.13
11.76
11.76
4.55
5.38

0.64
0.49
1.88
1.86
1.59
73.39
0.98
11.72
23.41
20.78

0.45
0.05
1.65
1.69
1.63
73.75
0.97
6.48
12.81
10.37
1.67
4.57
1,419.53
3.74
-0.02
5.84
72.57

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

329

6.22
0.00
11.58
61.67

7.88
0.00
15.80
61.10

5.41
0.00
12.42
76.81

2.65
0.00
4.55
72.66

6.59
14.38
5.95
0.39
10.59
75.73

OTHER NON-METALLIC MINERAL PRODUCTS

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

89,470,765

137,960,505

169,009,755

186,060,803

121,277,520
88,816,132
3,282,229
654,633

173,297,285
137,543,567
3,779,998
416,938

209,534,009
168,967,475
7,604,666
42,280

244,485,903
186,031,813
7,974,768
28,990

29,652,967
4,329,626
2,660,169
1,798,180
9,038,152
11,826,840
34,270,017
10,191,689
24,078,328
31,958,619

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

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

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

5,527,052

4,904,612

5,260,825

12,796,715

26,431,567
52,895,096
31,632,506
30,604,040
1,028,466
21,262,590

53,304,578
79,427,514
37,337,798
36,309,332
1,028,466
42,089,716

60,199,965
107,864,730
44,173,506
43,145,040
1,028,466
63,691,224

54,929,134
126,439,880
58,225,147
57,196,681
1,028,466
68,214,733

63,215,787
60,154,747
3,061,040
49,762,836

87,711,923
82,394,969
5,316,954
63,719,648

92,740,709
83,545,605
9,195,104
80,925,139

122,491,518
98,681,928
23,809,590
109,845,503

13,452,951
3,006,909

23,992,275
3,760,503

11,815,570
4,561,089

12,646,015
9,675,382

(Thousand Rupees)
2009
2010
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
54,166,390
33,703,135
95,029,267
53,117,385
4,419,344
14,949,680
576,102
21,966,756
125,093,507
59,388,857
58,360,391
1,028,466
46,176,451
28,317,005
17,859,446
19,528,199

264,394,077
28,419,765
278,446,702
220,899,512
10,077,362
1,205,621
10,408,650
3,460,529
61,352,744
2,164,194
9,243,999
5,204,157
12,409,183
32,331,211
98,721,609
57,285,900
41,435,709
93,741,138
56,699,509
3,530,598
14,764,800
664,469
18,081,762
133,284,073
61,194,985
60,166,519
1,028,466
47,979,441
33,497,798
14,481,644
24,109,647
130,339,454
89,420,848
40,918,606
109,036,354
20,740,254
88,296,100
21,303,100
16,493,205
12,356,870
4,136,335
3,699,036
13,447,461
12,605,066
(5,679,320)
1,638,664
8,371,149
96,985
7,783,921

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

10,813,225
1,175,958
888,959
1,128,172

17,892,101
1,325,181
2,479,202
847,472

5,122,623
379,622
1,456,322
67,306

(4,110,021)
661,330
834,233
191,822

145,171,686
100,784,042
44,387,644
106,610,552
18,031,354
88,579,198
38,561,134
17,475,040
11,511,525
5,963,515
3,379,718
16,227,843
14,685,732
7,171,458
1,681,011
7,381,380
971,032
21,938,050

84,853,715
5,527,052
8,748,308
15,718,741

137,636,704
4,904,612
14,087,718
22,132,227

173,325,520
5,260,825
3,286,679
28,404,659

194,165,729
12,796,715
(5,605,584)
51,957,235

220,122,774
68,067,065
(1,890,933)
122,233,455

227,025,212
71,464,309
(15,689,134)
128,750,209

0.44
3.23
2.84
0.53
0.87
78.72
1.25
10.34
23.59
14.69
10.84
23.76

0.59
3.82
2.76
0.47
0.99
72.65
1.34
11.74
27.04
16.08
6.68
21.47

0.63
6.67
3.28
0.39
1.07
87.26
1.21
2.42
5.47
3.29
3.26
16.07

0.48
7.44
4.23
0.44
1.10
89.68
1.19
-1.59
-3.51
-2.24
-5.72
15.35

0.20
11.18
3.64
0.47
0.68
73.44
1.46
2.45
5.70
3.46
0.74
12.96
1.49
4.94
0.12
0.94
21.30

0.20
10.32
3.99
0.40
0.62
83.66
1.44
-1.79
-4.40
-2.54
-0.87
14.10
0.55
-4.36
0.04
-1.21
22.02

3,006,909

3,760,503

4,561,089

9,675,382

2,044,177

3,352,851

6,184,085

9,107,723

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

332

17.11
0.00
3.15
17.28

20.40
0.00
4.55
21.81

5.52
0.00
1.10
24.92

-3.36
0.00
-0.88
23.19

Growth with Composition of Assets & Liabilites

300

12.4%

Billion Rs

250
6.4%

200

6.5%

3.2%

150
100

50

-1.4%

0
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

14%
12%
10%
8%
6%
4%
2%
0%
-2%
-4%

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

Billion Rs

2009

160
140
120
100
80
60
40
20
0
-20

-44.8%

Sales

Gross Profit

5.7
3.46

2.45

-6

Return on Return on
Assets
Equity
-1.79

2010

-4.4

Return on
Capital
Emloyed -2.54

Net Profit Before Tax

-200%

Key Performance Indicators

2009

-4

-150%

-179.2%

-2

-50%
-100%

Percentage

Percentage

Growth
0%

-10.2%

Profitability/Efficiency Ratios
6

2010

2009

1.46
0.68 0.62

2010

4.94

1.44

0.94

-2
-4

Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
-1.21
Per Share
after Tax

-4.36
-6

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

86,017,307

132,804,755

163,028,547

179,119,158

115,295,057
85,322,522
2,947,622
694,785

165,653,454
132,365,472
3,287,786
439,283

199,971,801
162,986,267
7,054,871
42,280

233,505,335
179,090,168
7,368,612
28,990

26,658,809
4,227,515
1,569,618
972,219
8,987,125
10,902,332
31,207,472
8,921,426
22,286,046
31,027,247

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

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

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

5,527,052

4,904,612

5,260,825

12,796,715

25,500,195
50,441,397
30,546,029
29,517,563
1,028,466
19,895,368

52,467,330
75,611,375
35,785,663
34,757,197
1,028,466
39,825,712

59,031,152
103,659,605
42,396,793
41,368,327
1,028,466
61,262,812

52,575,513
121,596,938
55,909,628
54,881,162
1,028,466
65,687,310

57,101,164
54,358,819
2,742,345
44,839,743

79,237,136
74,355,399
4,881,737
56,955,203

83,473,415
75,106,250
8,367,165
73,361,455

111,752,228
88,896,079
22,856,149
100,879,207

12,261,421
2,369,695

22,281,933
3,008,800

10,111,960
3,654,536

10,873,021
8,627,277

(Thousand Rupees)
2009
2010
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

253,198,576
27,791,952
263,442,569
211,020,337
8,525,322
1,205,621
10,408,650
2,772,016
54,720,582
1,888,235
7,069,308
3,268,736
12,409,183
30,085,120
93,097,685
57,285,900
35,811,785
88,089,315
56,699,509
3,530,598
14,764,800
664,469
12,429,939
126,732,157
58,277,252
57,248,786
1,028,466
44,748,711
33,497,798
11,250,914
23,706,194
114,556,595
74,818,772
39,737,823
96,490,265
15,800,228
80,690,037
18,066,330
14,952,620
11,321,154
3,631,466
2,054,224
12,570,454
11,831,753
(6,572,184)
1,231,164
8,072,235
0
6,580,237

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

10,375,490
1,043,922
835,488
1,113,068

17,064,704
1,227,536
2,270,196
687,530

4,553,061
316,689
1,266,644
0

(4,509,355)
482,530
648,108
117,052

132,754,165
89,750,783
43,003,382
96,648,470
13,760,456
82,888,014
36,105,695
16,205,230
10,752,560
5,452,670
1,988,120
15,490,916
14,123,080
6,503,948
1,397,433
7,098,039
882,864
20,627,930

81,468,644
5,527,052
8,496,080
14,448,478

132,983,317
4,904,612
13,566,972
20,427,313

167,951,582
5,260,825
2,969,728
26,322,793

186,969,166
12,796,715
(5,639,993)
49,993,386

208,719,167
68,067,065
(1,991,524)
122,233,455

214,821,473
71,464,309
(15,875,583)
128,750,209

0.45
3.28
1.70
0.51
0.85
78.53
1.23
10.53
23.83
14.73
11.17
36.38

0.62
3.87
1.73
0.45
1.00
71.88
1.33
11.81
27.08
15.91
6.98
29.33

0.66
7.01
2.41
0.37
1.08
87.89
1.20
2.25
5.08
3.03
3.34
19.77

0.49
7.77
3.59
0.42
1.10
90.27
1.18
-1.83
-4.00
-2.54
-7.70
17.85

0.20
11.67
3.24
0.46
0.64
72.80
1.44
2.34
5.40
3.29
0.72
15.02
1.46
4.90
0.12
0.92
21.45

0.19
10.97
2.85
0.37
0.59
84.23
1.43
-2.19
-5.34
-3.10
-0.97
16.20
0.44
-5.74
0.04
-1.36
22.14

2,369,695

3,008,800

3,654,536

8,627,277

1,871,950

3,064,713

5,853,171

8,680,088

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

334

18.17
0.00
3.16
17.09

21.54
0.00
4.56
21.75

5.45
0.00
1.02
25.06

-4.04
0.00
-0.96
23.36

Growth with Composition of Assets & Liabilites

300

14%
12%
10%
8%
6%
4%
2%
0%
-2%
-4%

12.6%

Billion Rs

250

200
6.3%

150

6.1%

2.8%

100

50

-1.4%

0
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

-13.7%

2009

2010

Growth
0%

140
120

-50.0%

-50%

Billion Rs

100

80

-100%

60
-150%

40
20

-201.0%

0
Sales

-20

Gross Profit

Percentage

2.34

2009

-4
-6

Return on Return on
Assets
Equity
-2.19
-5.34

Return on
Capital
Emloyed
-3.1

2010

4.9

6
4

3.29

-2

2009

2010

Percentage

5.4

-250%

Key Performance Indicators

Profitability/Efficiency Ratios
6

Net Profit Before Tax

-200%

0.6 0.6

1.4 1.4

0.9

-2
-4
-6

Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

-5.7

Earing -1.4
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,505,768

3,198,261

3,867,044

4,236,771

2,217,064
1,505,768
61,012
0

3,970,271
3,197,844
61,131
417

4,705,282
3,866,835
69,490
209

5,143,264
4,236,771
68,046
0

376,796
14,089
72,898
16,604
0
273,205
907,866
97,156
810,710
590,833

620,954
118,057
136,937
24,745
0
341,215
769,280
136,287
632,993
1,889,731

575,922
2,366
144,846
948
0
427,762
1,331,257
596,697
734,560
1,730,614

1,037,104
9,366
243,339
297,892
0
486,507
1,165,966
209,212
956,754
2,512,286

590,833
383,865
380,927
380,927
0
2,938

1,889,731
1,160,204
1,142,781
1,142,781
0
17,423

1,730,614
1,381,095
1,142,781
1,142,781
0
238,314

2,512,286
1,595,623
1,828,450
1,828,450
0
(232,827)

687,900
687,900
0
726,916

1,258,985
1,172,889
86,096
1,232,541

285,488
285,488
0
414,708

1,362,635
639,467
723,168
1,247,392

(39,016)
25,165

26,444
29,881

(129,220)
28,708

115,243
156,425

(Thousand Rupees)
2009
2010
4,568,379
815,262
4,551,112
3,539,718
105,384
0
0
213,399
1,355,532
12,421
427,276
33,137
0
882,698
1,454,512
495,422
959,090
2,751,963
2,506,350
234,076
0
11,537
0
1,717,436
1,828,450
1,828,450
0
(111,014)
0
(111,014)
0

4,607,827
0
5,439,563
4,352,502
77,307
0
0
255,325
694,771
3,547
116,666
63,923
0
510,635
1,619,955
988,090
631,865
2,685,822
2,250,000
417,327
0
18,495
0
996,821
1,828,450
1,828,450
0
(831,629)
0
(831,629)
0
2,198,443
576,038
1,622,405
2,131,027
310,849
1,820,178
67,416
438,465
413,667
24,798
17,525
417,189
414,724
(746,498)
15,946
0
0
(353,154)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(72,612)
2,418
0
0

(75,025)
4,598
0
0

(168,768)
1,061
0
0

(128,930)
7,232
0
0

2,982,686
930,815
2,051,871
2,282,298
405,670
1,876,628
700,388
421,211
390,619
30,592
15,746
351,206
348,718
(41,973)
23,024
0
0
(51,845)

974,698
0
(75,030)
97,156

3,049,935
0
(79,623)
136,287

3,111,709
0
(169,829)
596,697

4,107,909
0
(136,162)
209,212

4,469,399
2,506,350
(64,997)
3,001,772

3,682,643
2,250,000
(762,444)
3,238,090

0.03
4.73
2.41
0.37
0.42
105.67
3.90
-4.06
-16.73
-8.44

0.19
5.83
1.97
0.33
0.81
97.90
2.29
-2.63
-9.72
-3.73

0.00
5.86
0.33
0.06
0.43
145.26
2.22
-4.09
-13.28
-5.48

0.26
6.48
21.86
0.26
0.89
91.54
2.31
-2.65
-8.66
-3.57

0.03
11.77
1.11
0.50
0.93
76.52
2.45
-0.75
-2.53
-0.98

0.04
18.98
2.91
0.41
0.43
96.93
4.32
-13.30
-55.01
-18.31

25,165

29,881

28,708

156,425

32,524

73,356

16,735

88,330

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

336

9.44

9.19

1.97

5.60

6.98
0.88
-1.41
-0.01
-0.36
9.39

18.84
-0.80
-33.96
-0.08
-4.17
5.45

-10.56
0.00
-1.97
10.08

-5.96
0.00
-0.70
10.15

-59.12
0.00
-1.49
12.09

-9.46
0.00
-0.74
8.73

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,547,026

4,236,094

4,443,222

4,333,363

4,455,473
2,547,026
106,844
0

6,247,760
4,236,094
104,683
0

6,812,468
4,443,222
367,191
0

6,955,871
4,333,363
401,189
0

860,161
168,622
162,285
3,925
4,500
520,829
728,422
7,555
720,867
556,764

635,412
94,855
167,171
23,124
4,500
345,762
944,957
331,618
613,339
973,319

1,342,418
265,776
276,428
19,897
208,002
572,315
1,566,987
15,489
1,551,498
822,609

1,537,584
110,957
409,498
49,799
188,450
778,880
1,716,868
200,109
1,516,759
622,500

556,764
2,122,001
721,629
721,629
0
1,400,372

973,319
2,953,230
721,629
721,629
0
2,231,601

822,609
3,396,044
721,629
721,629
0
2,674,415

622,500
3,531,579
721,629
721,629
0
2,809,950

3,518,256
3,518,256
0
2,490,673

4,703,775
4,703,775
0
3,038,728

6,237,210
6,237,210
0
4,682,534

6,770,750
6,770,750
0
5,666,446

1,027,583
240,325

1,665,047
254,861

1,554,676
282,526

1,104,304
303,268

(Thousand Rupees)
2009
2010
4,210,452
2,009
7,348,179
4,141,525
474,439
0
4,500
62,418
2,762,349
871,826
613,934
46,485
557,265
672,839
1,135,564
200,000
935,564
1,059,370
422,500
0
0
0
636,870
4,777,867
721,629
721,629
0
4,056,238
0
4,056,238
0

4,266,346
209,298
7,462,133
3,992,646
270,794
0
4,500
59,902
2,792,563
442,109
366,170
55,366
1,194,272
734,646
1,065,190
0
1,065,190
598,300
0
0
0
0
598,300
5,395,419
865,955
865,955
0
4,529,464
0
4,529,464
0
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
1,362,311

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,160,858
273,000
90,204
0

1,393,345
487,000
360,815
0

1,193,377
22,802
324,733
0

674,967
57,706
324,733
0

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

2,678,765
0
797,654
7,555

3,926,549
0
545,530
331,618

4,218,653
0
845,842
15,489

4,154,079
0
292,528
200,109

5,837,237
422,500
(634,747)
622,500

5,993,719
0
(1,298,506)
0

0.24
0.32
0.11
1.03
1.18
70.79
0.61
44.16
67.68
58.02
9.84
21.68

0.13
0.54
0.49
0.97
0.67
64.60
0.65
33.66
54.91
42.19
2.51
28.14

0.32
1.64
0.32
1.08
0.86
75.07
0.70
22.40
37.59
29.30
3.60
22.56

0.20
2.27
0.74
1.15
0.90
83.69
0.66
11.58
19.49
16.12
1.90
16.53

1.30
1.41
0.55
1.22
2.43
68.17
0.46
30.97
47.87
39.81
0.69
13.86
22.15
23.37
0.88
19.31
66.21

1.59
1.01
0.72
1.09
2.62
74.47
0.31
19.79
27.29
23.47
0.43
20.94
22.03
18.11
0.82
11.16
62.31

240,325

254,861

282,526

303,268

11,267

25,387

102,072

153,909

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

337

33.00
0.00
12.30
29.41

29.62
0.00
12.56
40.92

19.13
0.00
16.22
47.06

9.97
0.00
8.55
48.94

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

5,109,399

10,965,861

14,452,530

16,004,482

6,889,280
5,109,399
203,750
0

12,944,563
10,965,861
201,464
0

16,577,735
14,452,530
1,978,702
0

18,606,851
16,004,482
431,938
0

3,914,618
605,636
93,440
0
2,426,623
788,919
2,261,845
1,223,607
1,038,238
3,148,464

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

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

9,411,009
348,574
729,727
365,121
5,589,233
2,378,354
5,794,182
3,511,008
2,283,174
12,764,805

3,148,464
3,613,708
2,128,165
2,128,165
0
1,485,543

9,458,832
4,849,963
2,340,982
2,340,982
0
2,508,981

12,607,054
5,981,149
2,575,080
2,575,080
0
3,406,069

12,764,805
6,856,504
2,832,588
2,832,588
0
4,023,916

4,905,886
4,905,886
0
3,356,936

6,131,141
6,131,141
0
3,837,637

8,409,439
8,409,439
0
7,396,569

10,669,558
10,669,558
0
9,661,298

1,548,950
183,124

2,293,504
233,550

1,012,870
141,400

1,008,260
420,746

(Thousand Rupees)
2009
2010
31,596,727
7,073,141
30,734,525
18,142,808
783,917
1,135,192
5,130,069
115,517
6,048,793
462,165
1,253,453
588,806
0
3,744,369
8,730,660
6,779,749
1,950,911
18,507,790
16,179,837
1,750
0
66,339
2,259,864
10,407,070
3,257,476
3,257,476
0
7,149,594
2,931,654
4,217,940
0

32,788,622
84,073
22,178,520
25,641,887
999,158
1,165,192
5,785,956
111,514
5,885,686
210,645
1,065,834
315,857
0
4,293,350
11,711,447
9,103,953
2,607,494
16,747,195
15,521,502
0
0
85,373
1,140,320
10,215,666
3,257,476
3,257,476
0
6,958,190
2,700,091
4,258,099
0
15,154,628
15,154,628
0
13,457,014
2,719,816
10,737,198
1,697,614
1,281,599
1,080,812
200,787
135,813
2,572,607
2,558,313
(1,362,073)
42,557
0
0
(1,127,366)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,297,922
26,927
193,469
193,469

1,730,468
27,712
212,817
212,817

56,356
4,817
0
0

(419,135)
37,492
0
0

16,146,838
16,146,838
0
11,254,822
1,568,534
9,686,288
4,892,016
1,717,967
1,473,602
244,365
132,737
2,442,877
2,429,702
1,413,175
73,667
0
0
920,025

6,762,172
0
1,077,526
1,223,607

14,308,795
0
1,489,939
1,776,961

18,588,203
0
51,539
756,385

19,621,309
0
(456,627)
3,511,008

28,914,860
16,179,837
1,339,508
22,959,586

26,962,861
15,521,502
(1,404,630)
24,625,455

1.47
7.65
0.54
0.34
1.90
62.59
2.72
12.80
40.89
16.43
8.00
40.80

1.44
14.41
1.01
0.36
1.92
87.96
2.86
0.27
1.04
0.34

1.09
11.59
3.42
0.42
1.62
90.55
2.71
-1.73
-6.53
-2.19

0.12
15.13
3.65
0.43
0.69
69.70
2.62
4.48
16.37
5.82

0.04
16.98
2.08
0.39
0.50
88.80
2.79
-3.57
-13.21
-4.88

183,124

233,550

141,400

420,746

139,637

468,727

1,211,746

1,236,140

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.34
2.85
0.00
0.54
1.73
68.43
1.50
17.29
41.24
22.90
6.57
52.50

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

338

28.92

14.62

12.88
1.58
8.75
0.03
4.11
31.95

14.22
0.47
-8.99
-0.04
-4.31
31.36

26.46
0.00
5.97
16.98

28.22
0.00
7.27
20.72

0.67
0.00
0.20
23.23

-3.93
0.00

Financial Statement Analysis of Non Financial Sector 2010

Cherat Cement Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

1,773,455

2,269,848

2,196,964

2,522,040

2,377,872
1,773,455
143,019
0

4,413,645
2,269,848
162,700
0

4,571,505
2,196,964
236,501
0

5,068,514
2,522,040
176,722
0

1,429,345
750,842
88,498
4,362
7,694
577,949
636,653
80,641
556,012
813,672

1,342,041
383,509
145,227
0
174,313
638,992
848,963
223,672
625,291
650,000

1,336,386
75,471
117,288
2,138
474,627
666,862
859,258
307,167
552,091
437,500

1,860,233
65,529
207,491
0
103,969
1,483,244
1,843,667
671,874
1,171,793
380,500

813,672
1,752,475
664,905
664,905
0
1,087,570

650,000
2,112,926
831,131
831,131
0
1,281,795

437,500
2,236,592
955,801
955,801
0
1,280,791

380,500
2,158,106
955,801
955,801
0
1,202,305

3,205,478
2,663,922
541,556
2,349,070

3,010,523
2,149,365
861,158
2,064,892

3,448,782
2,639,186
809,596
3,071,118

3,881,033
2,746,006
1,135,027
3,701,617

856,408
163,089

945,631
188,037

377,664
171,149

179,416
173,429

(Thousand Rupees)
2009
2010
3,400,079
1,023,062
4,969,810
2,235,295
195,917
5,880
114,157
21,685
1,343,431
60,689
280,588
0
153
1,002,001
1,070,994
677,437
393,557
1,404,112
1,087,500
0
0
0
316,612
2,268,404
955,801
955,801
0
1,312,603
0
1,312,603
0

3,617,936
14,722
6,379,943
3,431,219
219,114
20,013
122,104
29,878
1,239,483
53,652
201,186
0
114
984,531
1,622,417
1,125,228
497,189
989,037
976,400
0
0
0
12,637
2,245,965
955,801
955,801
0
1,290,164
0
1,290,164
0
3,469,111
1,847,450
1,621,661
3,379,937
596,281
2,783,656
89,174
242,455
128,620
113,835
146,353
160,917
160,917
(297,398)
25,531
0
0
175,092

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

684,007
178,408
212,769
132,981

718,747
47,552
83,113
124,670

247,027
77,145
95,580
0

(56,498)
15,095
0
0

4,567,409
3,012,338
1,555,071
3,896,647
620,648
3,275,999
670,762
307,247
94,767
212,480
141,563
114,357
114,357
256,933
16,883
0
0
309,630

2,566,147
0
292,830
80,641

2,762,926
0
588,082
223,672

2,674,092
0
74,302
307,167

2,538,606
0
(71,593)
671,874

3,672,516
1,087,500
240,050
1,764,937

3,235,002
976,400
(322,929)
2,101,628

1.20
1.06
0.14
1.00
2.25
73.28
0.83
25.40
45.90
34.30
2.38
36.22

0.66
2.67
0.00
0.83
1.58
68.59
0.71
21.09
37.19
26.97
8.08
20.73

0.64
2.19
0.06
0.98
1.56
89.05
0.58
6.91
11.36
9.09
1.78
29.40

0.09
2.10
0.00
0.89
1.01
95.38
1.03
-1.43
-2.57
-2.17

0.06
2.50
0.00
0.96
1.25
85.31
1.09
5.63
11.61
8.27

0.03
4.64
0.00
0.71
0.76
97.43
1.16
-6.20
-13.18
-8.61

163,089

188,037

171,149

173,429

34,030

80,364

75,531

81,576

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

339

18.70

16.28
3.25
5.63
0.13
2.51
23.73

17.24
-0.85
-8.57
0.07
-3.38
23.50

21.34
0.00
7.60
26.36

23.87
0.00
8.08
25.42

7.16
0.00
1.78
23.40

-1.46
0.00
-0.75
22.58

Financial Statement Analysis of Non Financial Sector 2010

D.G. Khan Cement Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

10,937,674

19,576,458

24,157,990

25,471,336

15,637,327
10,937,674
357,083
0

24,591,348
19,576,458
349,525
0

29,666,772
24,157,990
494,205
0

32,265,472
25,471,336
1,363,037
0

7,078,831
93,836
100,994
76,238
5,379,768
1,427,995
3,621,532
1,560,294
2,061,238
5,031,210

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

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

26,521,598
226,372
445,856
366,173
21,878,273
3,604,924
13,501,626
10,284,628
3,216,998
8,411,051

5,031,210
9,363,763
1,843,937
1,843,937
0
7,519,826

7,401,354
19,268,200
1,843,937
1,843,937
0
17,424,263

8,687,588
33,923,185
2,535,412
2,535,412
0
31,387,773

8,411,051
30,080,257
2,535,412
2,535,412
0
27,544,845

7,372,107
6,730,756
641,351
5,423,316

10,955,936
10,348,119
607,817
6,993,093

9,399,132
8,887,306
511,826
7,367,147

17,473,556
14,732,445
2,741,111
15,537,255

1,948,791
231,171

3,962,843
348,155

2,031,985
308,598

1,936,301
1,269,400

(Thousand Rupees)
2009
2010
30,438,230
1,750,208
33,872,818
25,551,184
1,414,911
0
2,968,879
167,959
13,429,542
261,014
1,023,230
656,986
7,785,979
3,702,333
16,421,691
14,371,037
2,050,654
6,189,955
4,675,992
0
0
78,622
1,435,341
21,256,126
3,042,494
3,042,494
0
18,213,632
12,618,827
5,594,805
0

31,565,400
465,650
36,184,047
26,446,874
1,439,660
0
4,493,293
159,583
16,927,244
262,942
1,636,829
462,367
10,740,986
3,824,120
14,691,352
12,449,670
2,241,682
6,866,634
5,229,507
0
0
104,029
1,533,098
26,934,658
3,650,993
3,650,993
0
23,283,665
17,416,958
5,866,707
0
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
814,677

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,121,271
40,000
251,446
167,631

3,448,533
40,500
276,591
184,394

1,720,471
33,000
380,312
0

(175,273)
108,214
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
1,574,275

14,394,973
0
1,829,825
1,560,294

26,669,554
0
3,131,442
4,189,772

42,610,773
0
1,307,159
5,982,129

38,491,308
0
(283,487)
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

1.53
4.12
1.03
0.41
1.95
73.57
0.92
14.27
26.82
18.20
8.28
73.00

1.73
4.11
0.68
0.32
1.93
63.83
0.78
13.18
24.09
16.80
12.32
48.42

2.78
4.98
1.53
0.18
3.02
78.38
0.53
4.00
6.47
4.97
4.44
31.85

1.66
10.11
2.10
0.34
1.96
88.92
0.73
-0.34
-0.55
-0.43

0.53
15.12
3.58
0.42
0.82
68.40
1.06
1.37
2.55
1.99

0.78
11.92
2.72
0.35
1.15
82.06
0.80
1.11
2.12
1.67

231,171

348,155

308,598

1,269,400

304,041

450,696

468,173

1,766,298

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

340

39.19

17.95
1.27
3.56
0.07
1.73
69.86

10.37
1.26
3.01
0.04
1.12
73.77

28.77
0.00
11.29
50.78

31.48
0.00
18.48
104.49

18.30
0.00
6.66
133.80

-1.00
0.00
-1.12
118.64

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,826,185

2,921,047

3,023,767

4,262,850

3,557,170
2,826,185
75,806
0

3,745,907
2,917,427
85,437
3,620

3,880,086
3,021,930
88,497
1,837

4,510,459
4,253,045
42,557
9,805

412,089
43,866
51,934
25,822
53,138
237,329
925,730
70,976
854,754
1,012,892

521,303
13,009
3,515
1,897
107,994
394,888
1,050,657
162,820
887,837
1,137,702

494,207
4,915
63,062
444
208,963
216,823
1,021,465
8,248
1,013,217
800,022

366,425
9,298
56,076
0
3,108
297,943
1,671,084
33,351
1,637,733
750,894

1,012,892
1,299,652
438,556
438,556
0
861,096

1,137,702
1,253,991
438,556
438,556
0
815,435

800,022
1,696,487
438,556
438,556
0
1,257,931

750,894
2,207,297
982,366
982,366
0
1,224,931

1,852,623
1,852,623
0
1,484,485

1,982,886
1,692,928
289,958
1,495,317

991,999
886,133
105,866
986,760

542,563
521,715
20,848
569,179

368,138
122,065

487,569
165,863

5,239
169,671

(26,616)
162,920

(Thousand Rupees)
2009
2010
4,109,993
10,640
4,471,813
4,086,371
24,376
7,616
2,597
2,769
343,846
2,143
44,221
861
0
296,621
702,252
88,327
613,925
1,665,703
743,331
0
0
20,452
901,920
2,085,884
982,366
982,366
0
(332,940)
107,410
(440,350)
1,436,458

4,109,993
10,640
4,471,813
4,086,371
24,376
7,616
2,597
2,769
343,846
2,143
44,221
861
0
296,621
702,252
88,327
613,925
1,665,703
743,331
0
0
20,452
901,920
2,085,884
982,366
982,366
0
(332,940)
107,410
(440,350)
1,436,458
30,030
30,030
0
66,737
2,738
63,999
(36,707)
80,736
1,828
78,908
24,559
7,777
6,629
(92,482)
0
0
0
(14,058)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

113,849
0
0
0

173,223
8,037
0
0

149,009
4,873
0
0

(222,117)
2,491
0
0

30,030
30,030
0
66,737
2,738
63,999
(36,707)
80,736
1,828
78,908
24,559
7,777
6,629
(92,482)
0
0
0
(14,058)

2,312,544
0
113,849
70,976

2,391,693
0
165,186
162,820

2,496,509
0
144,136
8,248

2,958,191
0
(224,608)
33,351

3,751,587
743,331
(92,482)
831,658

3,751,587
743,331
(92,482)
831,658

0.13
7.61
1.39
0.57
0.45
80.13
1.49
3.54
9.14
4.95

0.12
7.67
0.10
0.58
0.50
75.41
1.75
5.19
13.57
7.36

0.21
0.59
0.04
0.28
0.48
99.47
1.07
4.28
10.10
6.10

0.01
7.26
0.00
0.12
0.22
104.91
1.10
-5.45
-11.38
-8.14

0.00
25.90
2.87
0.01
0.49
222.23
1.14
-2.04
-4.31
-2.76

0.00
25.90
2.87
0.01
0.49
222.23
1.14
-2.08
-4.43
-2.47

122,065

165,863

169,671

162,920

141,009

152,074

5,845

39,372

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

341

35.67

564.12

15.73

9.68

0.68
-12.95
-307.97
-0.01
-0.94
21.23

0.68
-12.95
-307.97
-0.01
-0.94
21.23

6.15
0.00
2.60
29.63

8.74
0.00
3.77
28.59

15.02
0.00
3.29
38.68

-40.94
0.00
-2.29
22.47

Financial Statement Analysis of Non Financial Sector 2010

Dandot Cement Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

2,030,711

1,905,371

2,459,190

2,537,363

3,509,199
1,882,327
107,536
148,384

3,524,812
1,796,987
101,298
108,384

4,245,454
2,459,190
67,307
0

4,411,416
2,537,363
88,057
0

256,803
8,028
39,202
2,168
0
207,405
1,447,459
84,207
1,363,252
344,270

366,718
84,715
32,179
0
0
249,824
1,418,555
188,248
1,230,307
385,078

565,083
14,007
30,411
0
0
520,665
1,823,571
368,701
1,454,870
723,875

564,462
10,335
42,166
683
0
511,278
1,754,136
376,471
1,377,665
1,020,031

344,270
495,785
678,400
678,400
0
(182,615)

385,078
468,456
678,400
678,400
0
(209,944)

723,875
476,827
678,400
678,400
0
(201,573)

1,020,031
327,658
948,400
948,400
0
(620,742)

1,577,096
1,577,096
0
1,510,415

1,962,988
1,962,988
0
1,742,552

1,372,581
1,372,581
0
1,580,013

828,675
814,319
14,356
1,065,295

66,681
75,105

220,436
73,134

(207,432)
77,470

(236,620)
92,366

(Thousand Rupees)
2009
2010
2,515,195
190,681
4,271,584
2,313,958
84,290
0
0
10,556
575,499
3,867
19,224
0
0
552,408
1,410,442
495,832
914,610
1,662,770
1,020,000
384,415
0
70,000
188,355
17,481
948,400
948,400
0
(2,150,588)
31,801
(2,182,389)
1,219,669

2,431,867
190,681
4,247,662
2,230,649
79,855
0
0
10,537
598,906
3,789
41,860
0
0
553,257
1,983,460
502,236
1,481,224
1,465,947
1,020,000
378,366
0
0
67,581
(418,635)
948,400
948,400
0
(2,544,674)
31,801
(2,576,474)
1,177,639
233,286
232,752
534
497,040
41,917
455,123
(263,754)
48,168
1,549
46,619
10,526
248,372
247,663
(556,982)
5
0
0
(556,982)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(61,759)
5,480
0
0

63,940
7,194
0
0

(438,153)
4,490
0
0

(556,402)
2,891
0
0

1,146,062
1,144,246
1,816
1,230,945
80,943
1,150,002
(84,883)
107,713
5,970
101,743
12,349
266,012
264,231
(457,658)
18
0
0
(457,657)

840,055
0
(67,239)
84,207

853,534
0
56,746
188,248

1,200,702
0
(442,643)
368,701

1,347,689
0
(559,293)
376,471

1,680,251
1,020,000
(457,676)
1,515,832

1,047,313
1,020,000
(556,987)
1,522,236

0.01
4.33
0.14
0.69
0.18
95.77
3.61
-2.65
-12.41
-6.88

0.06
4.63
0.00
0.86
0.26
88.77
3.85
2.80
13.26
7.55

0.01
12.50
0.00
0.45
0.31
115.11
5.34
-16.55
-92.70
-42.66

0.01
27.48
0.08
0.27
0.32
128.55
8.47
-18.16
-138.33
-43.67

0.00
23.21
0.00
0.37
0.41
107.41
175.80
-14.78
-265.20
-30.23

0.00
106.47
0.00
0.08
0.30
213.06
-8.24
-18.20
277.69
-40.84

75,105

73,134

77,470

92,366

68,346

90,909

171,555

227,718

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

342

40.23

61.00

45.13

19.65

59.62
-0.73
-39.93
-0.15
-4.83
0.18

5.57
-1.25
-238.76
-0.16
-5.87
-4.41

-3.92
0.00
-0.99
7.31

3.26
0.00
0.84
6.91

-31.92
0.00
-6.52
7.03

-67.14
0.00
-5.90
3.45

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

5,475,863

6,125,013

19,332,935

19,927,245

6,995,157
5,472,366
268,610
3,497

7,902,995
6,113,812
268,038
11,201

20,782,686
19,304,428
463,397
28,507

21,944,959
19,927,245
540,033
0

1,769,111
108,067
132,279
87,087
807,121
634,557
2,116,593
308,376
1,808,217
2,850,946

2,118,107
76,751
186,703
81,841
960,307
812,505
2,290,356
533,311
1,757,045
3,070,007

2,854,577
224,537
302,825
510,335
9,161
1,807,719
6,430,697
1,870,703
4,559,994
6,961,722

1,683,842
132,572
127,802
715,855
4,656
702,957
7,073,266
1,862,043
5,211,223
6,214,411

2,850,682

2,629,795

4,410,825

3,850,000

264
2,277,435
825,000
825,000
0
1,452,435

440,212
2,882,757
1,650,000
1,650,000
0
1,232,757

2,550,897
8,795,093
3,573,750
3,573,750
0
5,221,343

2,364,411
8,323,410
3,573,750
3,573,750
0
4,749,660

2,756,973
2,756,973
0
2,417,555

3,760,310
3,717,567
42,743
3,016,871

6,307,335
6,144,349
162,986
5,696,811

6,588,350
6,084,997
503,353
6,696,674

339,418
60,980

743,439
111,197

610,524
176,178

(108,324)
429,881

(Thousand Rupees)
2009
2010
20,086,723
804,945
21,693,665
19,210,188
467,704
0
0
71,590
1,510,001
122,311
384,169
316,485
2,172
684,864
5,110,161
2,407,789
2,702,372
8,256,814
1,287,819
445,222
3,850,000
0
2,673,773
8,229,749
3,573,750
3,573,750
0
648,287
0
648,287
4,007,712

19,736,593
804,945
21,647,156
18,874,678
289,001
0
0
56,970
1,132,873
60,616
120,024
347,983
1,473
602,777
5,708,438
2,948,558
2,759,880
7,487,405
646,797
445,222
3,850,000
0
2,545,386
7,673,623
3,573,750
3,573,750
0
54,349
0
54,349
4,045,524
3,494,784
2,928,825
565,959
3,800,662
474,152
3,326,510
(305,878)
305,500
120,332
185,168
243,761
11,153
5,868
(619,485)
17,474
0
0
(10,874)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

115,100
9,457
0
0

479,337
13,395
0
0

164,982
21,648
0
0

(582,322)
22,990
0
0

5,682,571
4,662,034
1,020,537
5,249,197
684,158
4,565,039
433,374
377,618
192,475
185,143
232,262
463,191
446,443
(376,490)
10,205
0
0
600,702

5,128,381
2,850,682
105,643
3,159,058

5,952,764
2,629,795
465,942
3,163,106

15,756,815
4,410,825
143,334
6,281,528

14,537,821
3,850,000
(605,312)
5,712,043

16,486,563
5,137,819
(386,695)
7,545,608

15,161,028
4,496,797
(636,959)
7,445,355

0.47
8.54
3.16
0.38
0.84
87.69
2.18
1.67
5.84
2.27

0.49
6.98
2.18
0.46
0.92
80.23
1.86
6.19
18.58
8.65

0.12
8.77
8.09
0.28
0.44
90.32
1.52
1.08
2.83
1.52

0.12
4.94
10.87
0.30
0.24
101.64
1.60
-2.66
-6.80
-3.84

0.09
8.15
5.57
0.26
0.30
92.37
1.62
-1.74
-4.55
-2.43

0.07
0.32
9.96
0.17
0.20
108.75
1.72
-2.92
-7.79
-3.91

60,980

111,197

176,178

429,881

235,498

262,626

553,115

325,142

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

20.84

20.14

20.83

51.55

14.79
0.16
-6.63
0.04
-1.08
23.03

29.12
-104.57
-17.73
0.00
-1.78
21.47

4.17
0.00
1.28
27.61

12.75
0.00
2.82
17.47

2.62
0.00
0.40
24.61

-8.84
0.00
-1.69
23.29

Financial Statement Analysis of Non Financial Sector 2010

Fauji Cement Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

4,717,315

4,563,115

4,392,450

7,106,599

6,750,753
4,717,315
256,283
0

6,848,523
4,563,115
266,532
0

6,960,185
4,392,450
283,454
0

9,973,989
7,106,599
302,656
0

1,506,473
603,110
55,931
107,231
0
740,201
1,206,946
861,871
345,075
2,522,005

1,634,993
847,590
145,090
25,475
0
616,838
1,482,580
786,353
696,227
1,425,000

2,008,238
423,133
183,309
19,558
0
1,382,238
1,790,482
375,510
1,414,972
875,000

5,347,894
3,783,909
230,089
26,927
0
1,306,969
2,845,512
1,378,365
1,467,147
325,000

2,522,005
2,494,837
4,194,422
3,707,430
486,992
(1,699,585)

1,425,000
3,290,528
4,194,422
3,707,430
486,992
(903,894)

875,000
3,735,206
4,194,422
3,707,430
486,992
(459,216)

325,000
9,283,981
7,419,887
6,932,895
486,992
1,864,094

3,921,362
3,627,833
293,529
2,839,786

5,683,455
5,194,641
488,814
3,492,344

4,780,036
4,354,132
425,904
3,688,541

4,749,217
3,889,630
859,587
4,091,105

1,081,576
104,119

2,191,111
192,450

1,091,495
170,045

658,112
164,168

(Thousand Rupees)
2009
2010
19,792,487
14,538,067
7,412,737
4,239,137
311,749
0
0
1,015,283
1,654,014
175,947
137,451
54,641
0
1,285,975
2,628,010
1,090,778
1,537,232
9,127,802
6,224,227
0
0
10,766
2,892,809
9,690,689
7,419,887
6,932,895
486,992
2,270,802
1,333,879
936,923
0

24,709,281
18,431,211
8,885,295
5,387,829
327,130
0
0
890,241
2,070,718
192,217
96,684
46,981
0
1,734,836
3,984,915
1,937,111
2,047,804
13,184,399
11,909,030
400,000
0
14,707
860,662
9,610,685
7,419,887
6,932,895
486,992
2,190,798
1,037,138
1,153,660
0
3,808,455
2,606,414
1,202,041
3,292,871
554,013
2,738,858
515,584
176,687
47,737
128,950
310,175
41,206
34,493
324,911
14,250
0
0
378,916

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

759,039
15,650
0
0

1,777,687
21,431
370,743
0

788,180
17,320
0
0

454,564
17,730
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
1,995,728

5,016,842
0
743,389
861,871

4,715,528
0
1,385,513
786,353

4,610,206
0
770,860
375,510

9,608,981
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

0.59
5.86
2.73
0.63
1.25
72.42
1.49
12.51
33.93
14.38

0.59
4.65
0.45
0.92
1.10
61.45
0.88
28.62
61.45
36.53
4.74
39.17

0.25
4.33
0.41
0.75
1.12
77.17
0.71
12.51
22.44
16.90

1.34
3.09
0.57
0.38
1.88
86.14
0.34
4.82
6.98
6.39

0.09
4.23
1.03
0.25
0.63
68.25
1.21
8.39
14.98
10.00

0.06
1.08
1.23
0.14
0.52
86.46
1.79
1.35
3.37
1.56

104,119

192,450

170,045

164,168

229,634

264,297

207,105

146,954

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

70.11

344

26.08

20.64

38.66
7.50
26.75
0.17
1.98
13.98

39.39
10.42
8.53
0.02
0.45
13.86

19.36
0.00
2.01
6.73

31.28
0.00
4.74
8.88

16.49
0.00
2.08
10.07

9.57
0.00
0.63
13.39

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

676,294

1,025,725

1,201,654

1,178,255

2,341,460
676,294
72,576
0

2,705,356
1,025,725
75,711
0

2,935,374
1,201,654
52,249
0

2,964,767
1,178,255
56,957
0

814,457
202,035
103,422
23,933
0
485,067
757,664
263,702
493,962
17,934

943,175
250,086
25,360
25,360
0
642,369
632,570
57,900
574,670
304,349

881,249
41,731
78,101
18,897
0
742,520
653,546
116,379
537,167
489,604

1,051,270
37,458
115,658
71,717
0
826,437
977,697
438,409
539,288
394,018

17,934
715,153
456,000
456,000
0
259,153

304,349
1,031,981
456,000
456,000
0
575,981

489,604
939,753
456,000
456,000
0
483,753

394,018
857,810
456,000
456,000
0
401,810

2,595,153
2,595,153
0
2,133,939

3,375,602
3,375,602
0
2,574,681

3,183,271
3,183,271
0
2,974,837

3,352,771
3,021,527
331,244
3,161,570

461,214
124,045

800,921
160,082

208,434
145,321

191,201
150,748

(Thousand Rupees)
2009
2010
1,559,804
137,468
3,134,115
1,339,752
63,284
0
0
82,584
1,044,659
19,536
167,862
65,580
0
791,681
943,977
402,189
541,788
488,326
292,074
0
0
0
196,252
1,172,160
456,000
456,000
0
716,160
0
716,160
0

2,182,532
808,228
3,091,168
1,316,405
65,748
0
0
57,899
940,146
19,734
108,718
10,892
0
800,802
1,336,168
634,597
701,571
822,608
684,048
0
0
0
138,560
963,902
501,600
501,600
0
462,302
0
462,302
0
2,902,684
1,790,928
1,111,756
2,749,953
466,626
2,283,327
152,731
375,393
252,758
122,635
86,898
83,363
82,824
(291,434)
20,129
0
0
86,198

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

297,295
113,672
45,600
0

637,516
154,580
136,800
0

29,104
613
136,800
0

(118,435)
3,092
0
0

3,455,706
2,538,063
917,643
2,542,303
422,364
2,119,939
913,403
334,724
183,452
151,272
93,720
190,589
99,751
396,289
66,022
0
71,616
480,758

733,087
0
138,023
263,702

1,336,330
0
346,136
57,900

1,429,357
0
(108,309)
116,379

1,251,828
0
(121,527)
438,409

1,660,486
292,074
330,267
694,263

1,786,510
684,048
(311,563)
1,318,645

0.30
1.74
0.92
1.74
1.07
82.23
1.08
21.76
48.19
45.96
4.03
25.09

0.44
0.39
0.75
1.71
1.49
76.27
0.91
36.85
72.98
61.61
3.53
133.11

0.09
2.17
0.59
1.53
1.35
93.45
1.22
1.44
2.95
2.10
0.21
40.76

0.11
5.27
2.14
1.50
1.08
94.30
1.60
-5.49
-13.18
-8.83

0.09
5.52
1.90
1.33
1.11
73.57
1.22
16.40
39.04
27.21

0.02
2.87
0.38
0.93
0.70
94.74
2.24
-10.18
-27.29
-16.91

124,045

160,082

145,321

150,748

45,097

13,077

69,193

176,640

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

345

28.99

20.59
4.97
11.47
0.34
7.24
25.71

26.70
-2.52
-10.04
0.04
-6.21
19.22

11.46
0.00
4.03
15.68

18.89
0.00
10.59
22.63

0.91
0.00
0.62
20.61

-3.53
0.00
-2.67
18.81

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

4,696,595

238,278
228,480
9,798
515,397

(Thousand Rupees)
2009
2010
4,754,733
1,139,956
4,500,182
3,614,777
75,402
0
0
0
673,708
6,366
425,982
10,792
0
230,568
673,113
312,589
360,524
1,264,182
37,693
291,116
0
1,931
933,442
3,491,146
1,760,000
1,760,000
0
(22,898)
126,979
(149,877)
1,754,044

4,856,004
336,071
4,596,427
4,519,933
76,092
0
0
0
692,300
944
423,596
449
0
267,311
745,860
178,532
567,328
1,483,472
185,591
403,326
0
929
893,626
3,318,972
1,760,000
1,760,000
0
(161,476)
126,979
(288,455)
1,720,448

666,072
654,830
11,242
815,030
47,554
767,476
(148,958)
24,777
7,021
17,756
5,911
65,715
64,458
(239,450)
0
0
0
95,953

80,617
80,617
0
239,689
10,288
229,401
(159,072)
14,778
2,982
11,796
4,332
28,119
25,971
(201,969)
403
0
0
82,439

3,699,239
0
(334,249)
117,286

4,755,328
37,693
(239,450)
350,282

4,802,444
185,591
(202,372)
364,123

0.02
13.07
4.83
0.04
0.40
216.30
0.47
-6.19
-9.07
-8.96

0.03
9.87
1.62
0.12
1.00
122.36
0.55
-4.44
-6.70
-5.66

0.00
34.88
0.56
0.01
0.93
297.32
0.67
-3.68
-5.93
-4.23

5,012,587
4,696,595
76,292
0

659,211
14,612
404,629
11,508
0
228,462
1,656,567
117,286
1,539,281
46,346

46,346
3,652,893
1,760,000
1,760,000
0
1,892,893

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(277,119)
23,079

23,079

31,141

(331,339)
2,910
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

346

0.59

1.56
-2.71
-35.95
0.05
-1.36
19.84

0.19
-6.78
-250.53
0.04
-1.15
18.86

-139.06
0.00
-1.90
20.76

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,526,167

3,444,239

6,930,982

2,659,849
1,451,975
53,855
74,192

4,708,083
3,444,239
57,456
0

8,311,930
6,930,982
117,691
0

10,807,390
0
108,193
0

895,385
317,161
24,197
0
173,281
380,746
619,714
81,483
538,231
186,899

857,855
156,962
135,723
0
162,487
402,683
906,926
276,069
630,857
251,162

1,294,675
750,932
77,753
0
942
465,048
3,273,084
382,022
2,891,062
2,200,147

10,419,551
156,506
77,753
52,694
653
10,131,945
4,118,132
706,352
3,411,780
3,465,255

225,000

399,840

186,899
1,614,939
368,764
368,764
0
1,246,175

251,162
3,144,006
1,718,764
1,718,764
0
1,425,242

1,975,147
2,752,426
1,718,764
1,718,764
0
1,033,662

3,065,415
2,836,164
2,318,764
2,318,764
0
517,400

2,135,134
2,135,134
0
1,985,515

2,209,038
2,209,038
0
1,934,241

771,759
771,759
0
960,191

0
0
0
75,230

149,619
72,106

274,797
99,505

(188,432)
65,757

(75,230)
348,150

(Thousand Rupees)
2009
2010
9,791,842
96,289
11,362,926
9,633,200
242,022
0
0
62,353
1,237,044
67,981
401,668
52,694
0
714,701
5,702,745
3,333,475
2,369,270
3,360,334
926,894
1,886,723
399,680
10,718
136,319
1,965,807
2,318,764
2,318,764
0
(1,363,856)
0
(1,363,856)
1,010,899

12,102,784
136,521
13,878,132
11,908,348
240,607
0
0
57,915
819,327
21,140
109,483
33,762
0
654,942
4,835,260
1,769,583
3,065,677
4,086,430
3,233,674
137,889
0
14,811
700,056
4,000,421
2,318,764
2,318,764
0
(678,507)
0
(678,507)
2,360,164
2,113,818
1,432,945
680,873
2,628,699
343,263
2,285,436
(514,881)
480,608
292,689
187,919
33,094
1,184,656
817,686
(2,142,231)
6,497
0
0
(82,965)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

196,378
7,500
0
0

170,245
3,090
85,938
0

(202,074)
2,538
0
0

(564,146)
0
0
0

2,438,570
1,933,058
505,512
2,205,490
387,370
1,818,120
233,080
221,875
94,414
127,461
26,261
881,406
669,577
(859,499)
5,638
0
0
792,183

1,801,838
0
188,878
81,483

3,395,168
0
81,217
276,069

4,952,573
225,000
(204,612)
607,022

6,301,419
399,840
(564,146)
1,106,192

5,326,141
1,326,574
(865,137)
4,660,049

8,086,851
3,233,674
(2,148,728)
5,003,257

0.79
2.13
0.00
0.88
1.44
92.99
0.50
9.31
18.15
14.41

0.35
1.96
0.00
0.51
0.95
87.56
0.37
5.06
7.15
6.55
1.95
16.28

0.23
14.57
0.00
0.09
0.40
124.42
1.99
-3.23
-6.85
-4.84

0.05

0.02
36.14
2.16
0.22
0.22
90.44
4.61
-8.01
-35.80
-14.78

0.01
56.04
1.60
0.16
0.17
124.36
2.23
-17.89
-71.81
-31.94

72,106

99,505

65,757

348,150

45,387

43,293

112,468

154,047

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

88.24

347

0.00
2.53

2.67
-6.05
-20.19
-10.03

9.93

0.00

6.07
-0.28
-35.25
0.09
-3.73
8.48

19.31
-1.62
-101.34
-0.01
-9.27
17.25

9.20
0.00
5.12
43.79

7.71
0.00
0.97
18.29

-26.18
0.00
-1.19
16.01

0.00
-2.43
12.23

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

178,288

152,709

833,762

840,707

1,008,889
165,951
17,669
12,337

1,003,695
152,709
17,229
0

1,698,664
833,762
16,855
0

1,721,165
840,707
16,319
0

806,874
397,272
47,773
0
130,000
231,829
603,062
0
603,062
0

811,914
394,931
70,604
0
114,204
232,175
464,877
0
464,877
0

452,938
8,152
189,277
10,908
0
244,601
345,589
150,000
195,589
625,000

528,108
71,298
172,577
19,883
0
264,350
428,325
108,125
320,200
666,875

625,000

546,875

0
382,100
560,000
560,000
0
(177,900)

0
499,746
560,000
560,000
0
(60,254)

0
316,111
560,000
560,000
0
(243,889)

120,000
273,615
560,000
560,000
0
(286,385)

2,061,009
2,061,009
0
1,754,156

2,410,141
2,410,141
0
1,979,352

1,572,640
1,539,488
33,152
1,494,707

1,652,758
1,527,645
125,113
1,563,973

306,853
35,227

430,789
40,481

77,933
198,123

88,785
50,563

(Thousand Rupees)
2009
2010
5,392,722
70,416
6,214,820
5,320,060
14,730
0
0
2,246
468,497
71,829
196,261
9,943
0
190,464
647,644
184,045
463,599
4,482,291
30,000
952,291
3,500,000
0
0
731,284
290,641
290,641
0
(4,065,340)
11,966
(4,077,306)
4,505,983

8,644,909
227,818
8,628,117
8,414,121
213,996
0
0
2,970
851,616
81,770
6,005
34,238
0
729,603
1,555,947
1,177,537
378,410
3,858,481
105,768
1,127,713
2,625,000
0
0
4,082,097
581,282
581,282
0
(4,194,256)
11,966
(4,206,222)
7,695,071
610,134
596,276
13,858
657,227
102,661
554,566
(47,093)
32,618
9,260
23,358
92,839
587,424
584,308
(124,040)
3,492
0
0
(541,714)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

294,958
111,000
42,000
0

422,784
111,668
317,520
0

(177,789)
5,620
0
0

(57,484)
5,951
0
0

1,622,216
1,500,379
121,837
1,372,868
217,672
1,155,196
249,348
48,911
25,750
23,161
100,014
582,979
578,572
(370,367)
0
0
0
(253,473)

382,100
0
141,958
0

499,746
0
(6,404)
0

941,111
625,000
(183,409)
775,000

940,490
546,875
(63,435)
655,000

5,213,575
3,530,000
(370,367)
3,714,045

7,940,578
2,730,768
(127,532)
3,908,305

0.87
0.04
0.00
2.09
1.34
85.11
1.58
35.01
107.18
107.18
4.38
43.14

1.10
0.05
0.00
2.50
1.75
82.13
0.93
43.37
95.89
95.89
0.98
34.14

0.06
4.74
0.69
1.22
1.31
95.04
3.07
-15.79
-43.58
-24.68

0.21
6.02
1.20
1.21
1.23
94.63
4.00
-4.33
-19.50
-6.11

0.13
35.94
0.61
0.28
0.72
84.63
7.01
-10.25
-73.71
-12.04

0.07
96.28
5.61
0.06
0.55
107.72
1.33
-1.62
-5.15
-1.89

35,227

40,481

198,123

50,563

927

1,088

74,579

99,469

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

348

8.31

9.58

8.27
0.36
-22.83
-0.05
-12.74
25.16

101.60
0.79
-20.33
-0.10
-2.19
70.23

14.31
0.00
3.28
6.82

17.54
0.00
5.56
8.92

-11.31
0.00
-3.28
5.64

-3.48
0.00
-1.13
4.89

Financial Statement Analysis of Non Financial Sector 2010

Kohat Cement Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

1,119,880

2,079,393

5,258,260

6,248,720

2,395,233
1,119,880
64,233
0

3,442,970
2,079,393
91,832
0

6,722,667
5,258,260
104,952
0

7,812,738
6,248,720
103,949
0

532,007
289,066
22,337
23,799
0
196,805
437,376
136,679
300,697
117,109

996,717
656,886
87,870
21,642
6,600
223,719
552,313
135,611
416,702
239,858

606,051
132,402
125,148
21,381
0
327,120
821,347
364,554
456,793
2,703,308

1,375,201
36,995
174,318
15,341
0
1,148,547
2,309,319
1,722,564
586,755
2,985,473

117,109
1,097,402
493,500
493,500
0
603,902

239,858
2,283,939
925,312
925,312
0
1,358,627

2,703,308
2,339,656
1,017,843
1,017,843
0
1,321,813

2,985,473
2,329,129
1,170,520
1,170,520
0
1,158,609

2,353,711
2,120,667
233,044
1,689,488

2,922,612
2,237,902
684,710
1,722,950

2,050,321
1,526,852
523,469
1,707,054

1,823,587
1,309,375
514,212
1,736,185

664,223
89,190

1,199,662
125,247

343,267
72,681

87,402
354,017

(Thousand Rupees)
2009
2010
6,979,219
584,965
8,076,995
6,352,853
161,943
2,690
0
38,711
1,645,675
34,371
139,294
17,792
0
1,454,218
2,946,392
2,079,132
867,260
3,406,955
2,991,427
0
0
6,216
409,312
2,271,547
1,287,572
1,287,572
0
983,975
(35,921)
1,019,896
0

7,266,211
861,363
8,334,941
6,368,030
255,694
2,588
0
34,230
1,407,169
28,022
290,433
20,010
0
1,068,704
3,242,473
2,003,265
1,239,208
3,469,937
3,049,320
0
0
6,197
414,420
1,960,970
1,287,572
1,287,572
0
673,398
(18,721)
692,119
0
3,692,038
2,629,156
1,062,882
3,341,872
568,943
2,772,929
350,166
97,026
56,246
40,780
25,675
658,590
650,788
(382,239)
24,474
0
0
128,335
5,430,907
3,049,320
(406,713)
5,052,585

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

560,949
176,321
0
164,500

1,039,424
192,571
0
92,531

65,589
23,932
0
0

(279,572)
7,123
0
117,052

3,395,581
2,522,198
873,383
2,591,021
375,463
2,215,558
804,560
267,692
111,491
156,201
21,496
549,903
538,225
21,184
8,738
0
0
320,879

1,214,511
0
384,628
136,679

2,523,797
0
846,853
135,611

5,042,964
0
41,657
364,554

5,314,602
0
(286,695)
1,722,564

5,678,502
2,991,427
12,446
5,070,559

0.72
0.99
1.01
1.42
1.22
71.78
0.51
36.49
61.97
53.00

1.24
1.85
0.74
0.95
1.80
58.95
0.35
43.97
61.48
55.61

0.19
13.69
1.04
0.35
0.74
83.26
1.51
1.47
2.84
1.73

0.02
2.68
0.84
0.24
0.60
95.21
2.27
-4.15
-11.98
-5.40

89,190

125,247

72,681

354,017

23,212

54,097

280,622

48,935

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

349

0.02
16.19
0.52
0.39
0.56
76.31
2.80
0.26
0.92
0.39

0.01
17.84
0.54
0.43
0.43
90.52
3.42
-4.42
-18.06
-6.88

105.37

33.26

16.38

10.46

24.38
1.04
0.62
0.05
0.10
17.64

12.71
0.41
-10.35
0.02
-3.16
15.23

23.83
0.00
7.79
22.24

35.56
0.00
9.15
24.68

3.20
0.00
0.41
22.99

-15.33
0.00
-2.45
19.90

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

8,342,416

15,346,720

17,969,367

17,252,017

8,348,375
8,342,416
1,678
0

15,356,630
15,346,720
3,950
0

18,736,451
17,962,218
736,874
7,149

18,937,394
17,247,914
917,135
4,103

472,999
933
0
0
0
472,066
3,398,632
775,385
2,623,247
0

429,955
23,216
26,008
0
0
380,731
2,258,363
135,531
2,122,832
7,015,937

3,509,323
678,425
498,785
74,359
0
2,257,754
5,242,553
1,324,453
3,918,100
5,735,181

4,732,186
55,473
946,934
33,927
0
3,695,852
6,539,685
3,743,615
2,796,070
4,410,114

0
5,416,783
5,624,564
5,624,564
0
(207,781)

7,015,937
6,502,375
6,768,379
6,768,379
0
(266,004)

5,735,181
10,500,956
11,345,149
11,345,149
0
(844,193)

4,410,114
11,034,404
13,126,445
13,126,445
0
(2,092,041)

0
0
0
0

0
0
0
0

6,224,962
5,116,367
1,108,595
6,724,281

10,079,735
7,804,082
2,275,653
9,504,885

0
122,542

0
55,165

(499,319)
358,977

574,850
555,349

(Thousand Rupees)
2009
2010
17,558,751
82,708
18,938,505
16,605,289
655,702
2,959
0
867,795
2,145,492
71,261
724,361
76,614
0
1,273,256
6,865,083
3,630,698
3,234,385
3,075,232
3,075,232
0
0
0
0
9,763,928
13,126,445
13,126,445
0
(3,362,517)
198,966
(3,561,483)
0

17,145,507
137,926
19,101,247
16,154,046
622,602
2,345
0
851,190
2,358,841
7,268
624,933
417
0
1,726,223
8,927,252
5,815,684
3,111,568
1,761,663
1,761,663
0
0
0
0
8,815,433
13,126,445
13,126,445
0
(4,311,012)
198,963
(4,509,975)
0
6,880,767
4,005,443
2,875,324
6,024,857
1,087,714
4,937,143
855,910
906,621
491,859
414,762
174,518
980,678
935,852
(918,986)
29,508
0
0
(723,746)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

638,801
0
0
0

(53,626)
0
0
0

(797,784)
0
0
0

(1,414,765)
23,092
0
0

8,129,961
5,709,114
2,420,847
7,146,258
1,153,871
5,992,387
983,703
1,176,470
459,777
716,693
184,025
1,082,955
1,028,044
(1,254,503)
24,262
0
0
1,636,220

5,416,783
0
638,801
775,385

13,518,312
0
(53,626)
135,531

16,236,137
0
(797,784)
1,324,453

15,444,518
0
(1,437,857)
3,743,615

12,839,160
3,075,232
(1,278,765)
6,705,930

10,577,096
1,761,663
(948,494)
7,577,347

0.00

0.01

0.00
0.14

0.00
0.19

0.14
12.79
1.19
0.29
0.67
108.02
1.05
-4.28
-9.38
-5.36

0.01
14.70
0.34
0.46
0.72
94.30
0.99
-6.51
-13.14
-8.93

0.02
13.32
0.94
0.41
0.31
87.90
1.02
-6.02
-12.06
-8.87

0.00
14.25
0.01
0.35
0.26
87.56
1.21
-4.69
-9.89
-7.85

122,542

55,165

358,977

555,349

6,505

10

795,985

1,481,674

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.63
7.09
11.35
11.35

1.43
-0.44
-0.90
-0.57

0.00
1.14
9.63

350

0.00

12.48

10.64

11.22
-0.22
-15.43
0.16
-0.97
7.44

11.01
0.02
-13.36
-0.07
-0.72
6.72

0.00
-0.08
9.61

-12.82
0.00
-0.70
9.26

-14.04
0.00
-1.10
8.41

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

13,462,150

19,165,108

20,318,908

25,829,520

15,128,535
13,462,150
241,448
0

21,255,834
19,165,108
426,180
0

23,291,771
20,318,908
883,125
0

29,777,481
25,829,520
978,869
0

1,344,686
141,429
115,771
22,808
0
1,064,678
3,094,300
1,403,210
1,691,090
6,530,163

4,457,669
2,063,755
431,418
98,389
0
1,864,107
6,396,549
3,028,448
3,368,101
10,156,595

5,404,853
1,239,158
676,256
476,667
0
3,012,772
8,041,199
4,479,549
3,561,650
8,329,012

8,409,554
270,011
709,372
720,314
0
6,709,857
8,950,318
3,848,376
5,101,942
6,633,333

6,530,163
5,182,373
2,633,750
2,633,750
0
2,548,623

10,156,595
7,069,633
2,633,750
2,633,750
0
4,435,883

8,329,012
9,353,550
2,633,750
2,633,750
0
6,719,800

6,633,333
18,655,423
3,233,750
3,233,750
0
15,421,673

5,566,358
4,897,002
669,356
4,186,838

10,707,964
9,379,135
1,328,829
7,797,232

16,623,384
12,309,586
4,313,798
12,948,231

20,819,749
11,538,960
9,280,789
16,457,028

1,379,520
149,019

2,910,732
275,150

3,675,153
751,244

4,362,721
1,930,742

(Thousand Rupees)
2009
2010
30,534,420
2,143,111
33,419,153
28,333,761
1,148,218
0
0
57,548
7,857,942
1,049,091
1,196,608
1,267,248
0
4,344,995
9,098,678
6,187,941
2,910,737
6,041,712
4,300,000
0
0
234,633
1,507,079
23,251,972
3,233,750
3,233,750
0
20,018,222
7,343,422
12,674,800
0

31,438,780
1,913,121
35,957,625
29,465,134
1,410,996
2,977
0
57,548
6,871,464
333,629
608,813
779,305
0
5,149,717
9,641,691
6,442,871
3,198,820
3,572,624
1,658,600
0
0
319,217
1,594,807
25,095,929
3,233,750
3,233,750
0
21,862,179
7,343,422
14,518,757
0
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
5,267,006

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,209,951
19,927
0
183,750

2,552,976
39,923
263,375
0

2,690,351
63,146
329,219
0

2,306,529
85,394
323,375
0

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
6,514,748

11,712,536
0
1,190,024
1,403,210

17,226,228
0
2,249,678
3,028,448

17,682,562
0
2,297,986
4,479,549

25,288,756
0
1,897,760
3,848,376

29,293,684
4,300,000
(49,663)
10,487,941

28,668,553
1,658,600
(2,585,686)
8,101,471

0.05
0.39
0.41
0.38
0.43
75.22
1.86
11.08
25.40
14.06

0.34
0.77
0.92
0.45
0.70
72.82
2.34
13.29
41.67
17.64
9.54
24.82

0.21
5.19
2.87
0.65
0.67
77.89
1.75
10.90
32.76
15.41
7.98
24.58

0.11
0.61
3.46
0.61
0.94
79.05
0.84
7.69
16.47
10.74
6.87
29.35

0.25
4.70
4.81
0.69
0.86
62.74
0.65
14.26
24.71
18.97
0.99
22.00
5.33
19.66
0.43
15.52
71.90

0.12
2.32
3.18
0.64
0.71
67.44
0.53
8.91
14.14
11.79
0.55
40.26
7.43
13.94
0.40
9.96
77.61

149,019

275,150

751,244

1,930,742

21,691

82,809

862,847

126,743

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

48.08

351

21.74
0.00
4.52
19.68

23.84
0.00
9.54
26.84

16.18
0.00
9.98
35.51

11.08
0.00
6.87
57.69

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

8,462,382

16,088,505

19,335,444

20,096,530

12,626,683
8,462,382
341,094
0

20,517,727
16,088,505
372,734
0

24,188,139
19,330,866
439,254
4,578

25,802,361
20,081,448
865,546
15,082

1,957,025
369,802
183,217
92,597
5,000
1,306,409
1,930,642
1,107,173
823,469
2,199,356

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

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

6,055,031
118,894
433,952
743,366
734,859
4,023,960
7,591,699
4,637,749
2,953,950
10,198,973

41,650

8,000,000

2,157,706
6,289,409
3,248,844
2,707,370
541,474
3,040,565

7,955,320
7,312,027
3,519,581
2,978,107
541,474
3,792,446

9,524,373
8,993,037
4,264,108
3,722,634
541,474
4,728,929

2,198,973
8,360,889
4,264,108
3,722,634
541,474
4,096,781

6,193,443
6,193,443
0
4,865,511

7,954,901
7,954,901
0
5,806,321

5,514,208
5,514,208
0
5,204,315

10,552,398
8,195,115
2,357,283
9,228,568

1,327,932
112,974

2,148,580
199,459

309,893
154,683

1,323,830
980,923

(Thousand Rupees)
2009
2010
20,445,961
1,554,064
25,588,614
18,827,414
1,047,685
7,332
0
57,151
5,214,877
99,932
650,914
682,244
406,563
3,375,224
9,962,884
7,113,820
2,849,064
8,980,153
1,688,828
0
7,200,000
18,990
72,335
6,717,801
4,264,108
3,722,634
541,474
2,453,693
2,727,277
(273,584)
0

21,092,208
3,140,444
25,689,208
17,894,924
1,043,975
1,774
200
54,866
5,002,734
73,265
504,718
751,400
472,338
3,201,013
9,341,951
4,928,267
4,413,684
11,618,783
3,299,751
0
8,289,800
26,493
2,739
5,134,208
4,264,108
3,722,634
541,474
870,100
3,780,433
(2,910,333)
0
13,630,511
6,801,693
6,828,818
10,691,883
1,660,770
9,031,113
2,938,628
3,505,691
3,152,889
352,802
105,001
2,059,476
1,929,933
(2,569,508)
103,122
0
0
1,804,206

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,027,378
38,880
0
270,737

1,634,814
28,536
0
0

(140,019)
9,744
0
0

(1,364,244)
44,815
0
0

15,251,374
8,766,110
6,485,264
10,296,865
1,507,542
8,789,323
4,954,509
2,533,668
2,339,704
193,964
99,103
3,400,241
2,871,273
(917,651)
64,321
0
0
3,395,018

8,488,765
41,650
988,498
1,148,823

15,267,347
0
1,606,278
1,531,821

18,517,410
0
(149,763)
1,806,377

18,559,862
8,000,000
(1,409,059)
12,637,749

15,697,954
8,888,828
(981,972)
16,002,648

16,752,991
11,589,551
(2,672,630)
16,517,818

0.24
3.32
1.50
0.59
1.01
78.56
0.66
11.74
21.13
14.56

0.08
4.29
2.05
0.42
0.77
72.99
1.57
11.19
24.04
13.76

0.26
6.14
3.53
0.24
0.83
94.38
1.61
-0.66
-1.72
-0.83

0.21
17.18
7.04
0.40
0.80
87.45
2.13
-5.50
-15.72
-7.36

0.12
22.29
4.47
0.59
0.52
67.51
2.82
-3.54
-12.17
-5.36

0.14
15.11
5.51
0.52
0.54
78.44
4.08
-9.93
-43.36
-15.84

112,974

199,459

154,683

980,923

205,677

340,978

338,453

1,812,807

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

352

33.80

39.59

14.91

24.32

23.43
0.68
-6.02
0.18
-2.64
18.05

27.01
-0.33
-18.85
0.09
-7.18
13.79

16.59
0.00
3.65
23.23

20.55
0.00
5.39
24.55

-2.54
0.00
-0.40
24.16

-12.93
0.00
-3.79
22.46

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

232,362

3,653,911

3,891,749

4,229,550

1,343,198
232,362
26,486
0

3,663,836
3,653,911
13,764
0

4,086,394
3,891,749
185,507
0

4,627,753
4,229,550
204,174
0

204,860
686
2,783
0
0
201,391
1,254,497
0
1,254,497
0

487,769
5,412
128,499
308
0
353,550
1,512,347
342,186
1,170,161
0

1,032,321
11,048
164,526
9,054
0
847,693
1,667,250
454,247
1,213,003
400,000

1,439,886
19,459
306,835
4,364

0
(817,275)
123,200
123,200
0
(940,475)

0
2,629,333
123,200
123,200
0
2,506,133

400,000
2,856,820
123,200
123,200
0
2,733,620

1,270,000
2,690,819
150,304
150,304
0
2,540,515

0
0
0
0

408,686
408,686
0
406,414

940,592
940,592
0
1,224,523

1,484,855
1,484,855
0
1,768,471

0
37,308

2,272
16,582

(283,931)
20,449

(283,616)
22,878

1,109,228
1,708,617
716,962
991,655
1,270,000

(Thousand Rupees)
2009
2010
8,342,638
4,682,250
4,227,008
3,643,343
185,463
0
0
17,045
1,312,827
9,874
197,145
3,740
0
1,102,068
1,388,528
1,064,495
324,033
4,945,833
4,200,000
0
0
5,447
740,386
3,321,104
150,304
150,304
0
1,188,807
909,841
278,966
1,981,993

8,996,961
0
9,876,591
8,979,916
313,010
0
0
17,045
1,412,662
22,868
280,371
18,669
0
1,090,754
2,928,562
1,057,073
1,871,489
4,316,361
3,795,833
0
0
7,130
513,398
3,164,700
416,971
416,971
0
838,438
750,454
87,984
1,909,291
1,462,412
1,462,412
0
1,532,603
271,341
1,261,262
(70,191)
69,800
11,945
57,855
52,548
350,690
346,864
(490,209)
461
0
0
(88,009)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(60,238)
0
0
0

(22,755)
1,604
0
0

37,445
3,217
0
0

(416,145)
4,940
0
0

1,351,160
1,351,160
0
1,231,374
137,584
1,093,790
119,786
95,192
82,518
12,674
30,735
158,209
153,845
(131,374)
3,136
0
0
(188,849)

(817,275)
0
(60,238)
0

2,629,333
0
(24,359)
342,186

3,256,820
0
34,228
454,247

3,960,819
0
(421,085)
716,962

8,266,937
4,200,000
(134,510)
5,264,495

7,481,061
3,795,833
(490,670)
4,852,906

0.00

0.00
3.66
0.08
0.10
0.32
99.44
0.58
-0.99
-2.51
-2.51

0.01
6.70
0.96
0.19
0.62
130.19
0.72
0.83
1.37
1.27

0.01
7.78
0.29
0.26
0.84
119.10
1.11
-7.86
-15.00
-11.53

0.01
11.71
0.28
0.14
0.95
91.13
1.91
-1.71
-4.37
-2.15

0.01
23.98
1.28
0.14
0.48
104.80
2.29
-4.89
-15.12
-6.23

37,308

16,582

20,449

22,878

32,381

14,938

62,991

115,458

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.00
0.16

-1.53
-13.38
7.64
11.06

0.00

3.18

5.72

4.84

6.85
0.15
-9.72
-0.03
-8.95
220.96

5.22
-0.41
-33.52
-0.01
-11.77
75.90

0.00
-4.89
-66.34

353

-5.57
0.00
-1.98
213.42

3.98
0.00
2.78
231.88

-28.03
0.00
-28.02
179.03

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

6,381,731

7,683,391

7,510,640

9,570,865

8,024,787
6,381,731
233,339
0

9,598,453
7,683,391
277,435
0

9,795,845
7,510,640
375,728
0

12,291,354
9,570,865
435,306
0

506,184
17,529
56,825
18,944
0
412,886
2,168,294
116,409
2,051,885
2,469,198

721,605
71,905
96,757
12,490
0
540,453
2,731,795
528,495
2,203,300
2,746,796

1,099,857
305,491
150,294
29,717
0
614,355
5,330,890
1,002,991
4,327,899
609,180

901,724
139,183
68,691
40,124
0
653,726
3,910,850
1,675,618
2,235,232
2,016,423

2,469,198
2,250,423
1,547,466
1,547,466
0
702,957

2,746,796
2,926,405
1,624,839
1,624,839
0
1,301,566

609,180
2,670,427
1,698,148
1,698,148
0
972,279

2,016,423
4,545,316
1,995,324
1,995,324
0
2,549,992

9,327,157
745
12,408,101
9,253,929
380,318
0
0
72,483
1,020,577
159,302
146,066
37,402
0
677,807
3,489,131
2,215,425
1,273,706
2,277,173
1,344,254
8,731
0
25,155
899,033
4,581,430
1,995,324
1,995,324
0
405,217

405,217
2,180,889

8,991,466
3,917
12,341,119
8,933,987
391,843
0
0
53,562
1,334,028
55,872
132,072
36,851
0
1,109,233
4,908,339
3,101,854
1,806,485
1,078,308
587,028
2,348
0
33,247
455,685
4,338,847
2,227,552
2,227,552
0
(9,334)
0
(9,334)
2,120,629

2,800,130
2,436,802
363,328
2,127,015

4,153,574
3,754,854
398,720
2,922,936

4,648,655
4,276,682
371,973
4,330,477

6,607,418
5,150,358
1,457,060
6,093,805

673,115
185,644

1,230,638
171,781

318,178
148,458

513,613
705,054

3,872,834
3,192,886
679,948
3,953,814
652,825
3,300,989
(80,980)
405,966
158,842
247,124
74,778
392,658
377,394
(859,319)
195,697
0
0
(82,389)
5,417,155
587,028
(1,055,016)
3,688,882

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

393,919
11,331
0
0

933,071
17,718
162,484
73,118

(184,441)
18,300
0
0

(574,014)
24,514
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
913,565

4,719,621
0
382,588
116,409

5,673,201
0
752,869
528,495

3,279,607
0
(202,741)
1,002,991

6,561,739
0
(598,528)
1,675,618

6,858,603
1,344,254
17,562
3,559,679

0.02
4.31
0.68
0.41
0.23
75.96
2.06
7.06
28.10
10.67

0.03
4.74
0.30
0.49
0.26
70.37
1.87
12.20
36.05
17.96
5.63
42.93

0.06
7.87
0.64
0.54
0.21
93.16
2.22
-2.17
-6.59
-4.12

0.05
6.25
0.61
0.63
0.23
92.23
1.30
-6.02
-15.91
-11.67

185,644

171,781

148,458

705,054

120,745

196,949

365,848

413,203

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

49.28

354

0.06
9.03
0.75
0.48
0.29
73.34
1.26
1.67
3.82
2.60

0.02
10.14
0.95
0.38
0.27
102.09
1.38
-8.31
-19.27
-14.00

30.93

96.19

34.23
1.40
3.49
0.16
0.09
22.96

29.32
-1.28
-22.19
-0.01
-4.74
19.48

14.07
0.00
2.47
14.54

22.46
0.00
5.63
18.01

-3.97
0.00
-1.19
15.73

-8.69
0.00
-3.00
22.78

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

744,289

1,820,866
1,313,319
507,547
1,611,427

(Thousand Rupees)
2009
2010
824,853
74,727
2,074,468
747,422
46,009
2,616
0
88
594,336
11,815
225,301
56,135
38,597
262,488
507,111
326,434
180,677
141,267
83,333
0
0
0
57,934
770,811
797,745
797,745
0
(26,934)
0
(26,934)
0

851,985
0
2,209,451
848,781
50,731
3,116
0
88
585,639
10,266
238,864
49,649
0
286,860
571,714
333,076
238,638
90,347
41,666
0
0
0
48,681
775,563
797,745
797,745
0
(22,182)
0
(22,182)
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
165,182

1,544,124
823,304
720,820
1,266,771
98,429
1,168,342
277,353
246,114
190,965
55,149
24,785
45,532
43,653
1,769
11,692
0
0
75,239

737,411
0
46,534
244,641

912,078
83,333
248,358
409,767

865,910
41,666
(9,923)
374,742

0.23
4.69
7.37
1.35
0.99
88.50
1.36
4.00
9.43
7.30

0.21
3.55
3.13
1.26
1.17
72.31
0.84
19.05
39.27
31.94

0.10
2.95
3.22
1.07
1.02
82.04
0.85
0.12
0.23
0.20

2,026,105
744,289
46,643
0

602,063
6,367
175,879
134,212
0
285,605
608,941
244,641
364,300
166,662

166,662
570,749
797,745
797,745
0
(226,996)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

209,439
132,550

132,550

85,428

53,797
7,263
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

355

10.35

7.97
5.19
14.67
0.25
3.11
9.66

6.46
1.04
0.11
0.11
-0.12
9.72

2.95
0.00
0.58
7.15

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,804,681

1,568,641

1,189,122

2,030,061

1,657,398
1,351,809
95,676
452,872

1,658,784
1,266,726
86,469
301,915

1,657,107
1,189,122
78,927
0

2,843,445
2,030,061
144,994
0

831,174
5,066
136,005
327,521
0
362,582
806,744
474,832
331,912
812

1,183,194
6,472
213,188
482,718
0
480,816
1,016,202
654,964
361,238
415

1,066,368
580
162,539
326,739
0
576,510
983,269
700,367
282,902
188

950,084
6,648
180,801
345,846
0
416,789
1,437,555
709,913
727,642
117,278

812
1,828,299
1,700,000
1,700,000
0
128,299

415
1,735,218
1,700,000
1,700,000
0
35,218

188
1,272,033
1,700,000
1,700,000
0
(427,967)

117,278
1,425,312
4,278,385
4,278,385
0
(2,853,073)

1,511,945
1,511,945
0
1,447,909

1,423,974
1,423,974
0
1,306,731

697,250
697,250
0
857,239

453,476
453,476
0
926,407

64,036
169,256

117,243
164,895

(159,989)
206,358

(472,931)
200,621

(Thousand Rupees)
2009
2010
1,908,233
15,007
2,843,600
1,886,003
127,841
0
0
7,223
998,895
19,685
183,234
327,272
0
468,704
1,767,395
709,776
1,057,619
236,974
94
215,020
0
15,296
6,564
902,760
4,278,385
4,278,385
0
(4,676,439)
10,904
(4,687,343)
1,300,814

1,795,364
15,323
2,842,411
1,772,057
113,633
0
0
7,984
758,566
1,797
51,828
239,756
0
465,185
1,973,042
700,388
1,272,654
239,859
0
218,407
0
13,389
8,063
341,029
4,278,385
4,278,385
0
(5,178,326)
10,904
(5,189,230)
1,240,970
227,757
227,757
0
608,897
118,504
490,393
(381,140)
110,210
1,197
109,013
53,145
70,836
69,798
(560,591)
1,140
0
0
(12,925)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(132,184)
6,832
0
0

(104,533)
5,053
0
0

(432,898)
2,361
0
0

(738,391)
1,595
0
0

569,065
569,065
0
990,112
125,096
865,016
(421,047)
42,281
2,697
39,584
77,088
59,203
57,080
(521,592)
0
0
0
(44,366)

1,829,111
0
(139,016)
474,832

1,735,633
0
(109,586)
654,964

1,272,221
0
(435,259)
700,367

1,542,590
0
(739,986)
709,913

1,139,734
94
(521,592)
709,870

580,888
0
(561,731)
700,388

0.41
2.29
21.66
0.57
1.03
95.76
0.44
-4.76
-7.48
-7.48

0.48
4.13
33.90
0.52
1.16
91.77
0.59
-3.88
-5.87
-5.86

0.33
10.75
46.86
0.31
1.08
122.95
0.77
-17.29
-28.79
-28.78

0.25
15.24
76.27
0.15
0.66
204.29
1.09
-28.21
-54.75
-52.46

0.20
10.40
57.51
0.20
0.57
173.99
2.22
-17.72
-44.81
-38.89

0.12
31.10
105.27
0.09
0.38
267.35
6.49
-20.53
-90.14
-65.16

169,256

164,895

206,358

200,621

34,689

58,824

74,937

69,104

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

356

11.12

6.68

4.29

2.51

3.11
-8.14
-91.66
-0.02
-1.22
2.11

4.39
-7.03
-246.14
-0.01
-1.31
0.80

-8.74
0.00
-0.82
10.75

-7.34
0.00
-0.64
10.21

-62.09
0.00
-2.56
7.48

-162.83
0.00
-1.73
3.33

MINERAL PRODUCTS

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

3,453,458

5,155,750

5,981,208

6,941,645

5,982,463
3,493,610
334,607
(40,152)

7,643,831
5,178,095
492,212
(22,345)

9,562,208
5,981,208
549,795
0

10,980,568
6,941,645
606,156
0

2,994,158
102,111
1,090,551
825,961
51,027
924,508
3,062,545
1,270,263
1,792,282
931,372

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

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

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

931,372
2,453,699
1,086,477
1,086,477
0
1,367,222

(Thousand Rupees)
2009
2010
10,423,762
308,974
13,946,516
9,976,176
1,080,693

11,195,501
627,813
15,004,133
9,879,175
1,552,040

138,612
6,192,403
267,433
2,367,095
984,419
0
2,573,456
5,212,558

688,513
6,632,162
275,959
2,174,691
1,935,421
0
2,246,091
5,623,924

5,212,558
5,702,556

5,623,924
5,651,823

837,248
3,816,139
1,552,135
1,552,135
0
2,264,004

1,168,813
4,205,125
1,776,713
1,776,713
0
2,428,412

2,353,621
4,842,942
2,315,519
2,315,519
0
2,527,423

0
0
5,702,556
5,701,051
2,699,566
2,699,566
0
2,871,747

2,871,747
129,738

3,230,730
403,453

6,114,623
5,795,928
318,695
4,923,093

8,474,787
8,039,570
435,217
6,764,445

9,267,294
8,439,355
827,939
7,563,684

10,739,290
9,785,849
953,441
8,966,296

1,191,530
637,214

1,710,342
751,703

1,703,610
906,553

1,772,994
1,048,105

15,782,859
14,602,076
1,180,783
12,546,089
4,940,026
7,606,063
3,236,770
1,540,585
1,035,716
504,869
1,644,812
877,007
773,313
892,864
407,500
298,915
96,985
1,203,684

5,651,823
6,551,916
2,917,733
2,917,733
0
3,230,730

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

437,735
132,036
53,471
15,104

827,397
97,645
209,006
159,942

569,562
62,933
189,678
67,306

399,334
178,800
186,125
74,770

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

3,385,071
0
252,228
1,270,263

4,653,387
0
520,746
1,704,914

5,373,938
0
316,951
2,081,866

7,196,563
0
34,409
1,963,849

11,403,607
0
100,591
0

12,203,739
0
186,450
0

0.32
2.82
13.51
0.95
0.98
80.51
1.63
7.19
19.01
13.81
5.72
5.61

0.27
3.40
12.43
0.92
0.89
79.82
1.40
10.59
26.39
20.59
3.49
6.12

0.24
3.57
11.14
0.87
0.88
81.62
1.53
5.75
14.20
11.36
2.67
5.98

0.24
5.93
7.93
0.75
1.19
80.23
1.91
4.60
12.66
7.18
1.36
5.25
2.19
5.38
0.12
1.25
18.63

0.39
5.56
12.26
0.89
1.18
79.49
1.72
5.18
14.57
7.56
1.62
7.26
2.15
5.66
0.11
1.48
19.99

637,214

751,703

906,553

1,048,105

172,227

288,138

330,914

427,635

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

358

0.27
3.98
10.89
0.87
1.05
83.49
1.56
3.46
8.83
6.35
1.18
6.24

7.16
0.00
2.81
22.58

9.76
0.00
4.38
22.91

6.15
0.00
2.65
21.98

3.72
0.00
0.89
19.53

Growth with Composition of Assets & Liabilites

12

14.9%

Billion Rs

10

7.1%

7.9%

7.4%

2
-0.9%

0
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

16%
14%
12%
10%
8%
6%
4%
2%
0%
-2%

Non-Current Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

Billion Rs

2009
18
16
14
12
10
8
6
4
2
0

35%
30%

31.8%

25%
27.1%

20%
15%
10%

5%
0%
Gross Profit

16

14.57

14

Net Profit Before Tax

Key Performance Indicators

Profitability/Efficiency Ratios
2009

2010

5.38

5.66

2009

12.66

12

Percentage

Growth
40%
33.8%

Sales

4.6

5.18

7.18 7.56

Percentage

10
8
6
4
2
0

2010

2010

3
2

1.91 1.72
1.19 1.18

1.25

1.48

1
Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,014,103

1,209,237

1,457,054

1,322,720

1,485,070
1,014,103
93,781
0

1,775,562
1,209,237
96,779
0

2,138,134
1,457,054
114,755
0

2,158,179
1,322,720
154,379
0

1,054,543
4,436
517,662
203,706
0
328,739
1,280,720
572,899
707,821
444,700

1,157,238
12,592
554,840
205,426
0
384,380
1,606,720
708,547
898,173
286,570

1,315,754
13,865
603,174
232,144
0
466,571
1,960,274
1,044,040
916,234
433,063

1,428,705
17,204
586,522
338,833
0
486,146
1,568,537
776,726
791,811
830,655

444,700
343,226
330,000
330,000
0
13,226

(Thousand Rupees)
2009
2010
1,360,688
172,949
2,162,284
1,187,739
139,086

1,693,657
139,967
2,631,731
1,531,690
125,808

0
1,433,827
34,484
552,558
253,162
0
593,623
1,561,056

22,000
1,002,549
16,105
199,389
256,977
0
530,078
1,547,325

1,561,056
1,389,570

1,547,325
1,627,368

286,570
473,185
429,000
429,000
0
44,185

433,063
379,471
429,000
429,000
0
(49,529)

830,655
352,233
858,000
858,000
0
(505,767)

0
0
1,389,570
(156,111)
858,000
858,000
0
(1,014,111)

1,294,982
1,123,125
171,857
1,031,924

1,322,374
1,219,626
102,748
1,094,447

1,369,903
1,030,125
339,778
1,201,151

1,345,472
1,140,567
204,905
1,524,606

263,058
108,260

227,927
82,442

168,752
113,224

(179,134)
80,659

1,627,368
(478,487)
858,000
858,000
0
(1,613,780)

(1,014,111)

(1,613,780)
277,293

1,033,035
505,524
527,511
1,220,379
434,820
785,559
(187,344)
111,744

1,099,308
953,822
145,486
1,451,586
634,616
816,970
(352,278)
50,360

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

108,260

82,442

113,224

80,659

111,744
165,142
209,183
196,043
(503,129)
5,215

50,360
187,832
196,970
194,355
(598,460)
3,996

98,767

127,738

166,051

217,686

62,994
6,602
0
0

26,998
5,811
0
0

(105,600)
6,176
0
0

(476,265)
5,941
0
0

787,926
0
56,392
572,899

759,755
0
21,187
708,547

0.16
7.63
15.73
0.63
0.82
79.69
5.03
3.18
19.15
9.32

0.14
9.66
15.53
0.56
0.72
82.76
4.00
1.22
6.61
3.49

0
3,734

0
8,362

812,534
0
(111,776)
1,044,040

1,182,888
0
(482,206)
776,726

1,233,459
0
(508,344)
0

1,148,881
0
(602,456)
0

0.13
12.12
16.95
0.49
0.67
87.68
6.31
-4.11
-24.77
-13.43

0.23
16.18
25.18
0.49
0.91
113.31
6.81
-17.24
-130.18
-47.74

0.18
20.25
24.51
0.37
0.92
118.14
-18.90
-18.14
-513.08
-41.64

0.18
17.92
23.38
0.41
0.65
132.05
-6.63
-21.80
188.61
-50.24

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

2.50

2.38

2.27

2.29

1.87
-1.57
-48.70
0.00
-5.92
-1.82

5.51
-2.08
-54.44
0.00
-7.02
-5.58

4.86
0.00
1.71
10.40

2.04
0.00
0.49
11.03

-7.71
0.00
-2.61
8.85

-35.40
0.00
-5.62
4.11

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

348,917

335,433

352,930

344,597

338,567

516,680
348,917
13,581
0

0
335,433
0
0

610,747
352,930
13,619
0

617,247
344,597
14,832
0

623,970
286,986
336,984

736,084
51,872
690,725
8,027
682,698

132,434
48
48,533
61,744
0
22,109
323,603
86,029
237,574
2,990

147,988
502
61,121
62,681
0
23,684
347,835
84,019
263,816
0

187,635
260
91,168
71,904
0
24,303
424,281
0
424,281
0

100,478
964
57,949
22,975
0
18,590
150,607
0
150,607
283,381

51,581
105,147
3,608
67,662
13,401
0
20,476
147,752

676,185
106,826
1,423
73,375
2,349
0
29,679
231,584

147,752
191,436

231,584
221,118

2,990
154,758
77,412
77,412
0
77,346

0
135,586
77,412
77,412
0
58,174

0
116,284
77,412
77,412
0
38,872

283,381
11,087
77,412
77,412
0
(66,325)

0
0
191,436
104,526
77,412
77,412

0
0
0
0

5,362
5,362
0
9,971

56,692
56,692
0
62,584

94,326
94,326
0
179,240

0
157,507

(4,609)
4,374

(5,892)
11,891

(84,914)
26,532

27,114

221,118
390,208
77,412
77,412
0
312,796

27,114

312,796

124,238
124,238

168,926
168,926

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

157,507

4,374

11,891

26,532

2,359

163

236

(136,581)
0
0
0

(8,712)
22
0
0

(17,394)
242
0
0

(104,790)
408
0
0

157,748
0
(136,581)
86,029

135,586
0
(8,734)
84,019

0.19

0.18
0.15
1,168.99
0.01
0.43
185.96
2.57
-1.81
-6.00
-5.94

121,782
40,197
81,585
2,456
21,838
4,642
17,196
20,233
814
512
93,619
180

142,832
46,027
96,805
26,094
17,403
4,895
12,508
26,399
1,423
299
17,776
844

0
47,616

0
110,670

116,284
0
(17,636)
0

294,468
0
(105,198)
0

295,962
0
93,439
0

611,326
0
16,932
0

0.17
0.29
126.83
0.10
0.44
110.39
3.65
-3.40
-13.81
-13.81

0.16
0.25
24.36
0.21
0.67
190.02
39.14
-21.26
-164.54
-51.02

0.12
0.66
10.79
0.28
0.71
98.02
3.25
21.07
161.95
31.71

0.02
0.84
1.39
0.20
0.46
84.55
1.16
2.76
7.19
3.92

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.00
0.41

2.11
-24.29
-59.89
-44.30

0.00

0.09

0.62

1.63

1.84
183.85
75.35
0.14
12.07
13.50

2.30
60.45
10.52
0.24
2.19
50.41

0.00
-17.64
19.99

361

-162.48
0.00
-1.13
17.51

-30.68
0.00
-2.28
15.02

-111.09
0.00
-13.59
1.43

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

478,649

1,872,284

1,953,395

2,261,022

827,317
518,801
50,298
(40,152)

2,402,593
1,894,629
194,526
(22,345)

2,666,077
1,953,395
204,932
0

3,158,541
2,261,022
188,342
0

862,811
7,246
256,050
248,438
50,000
301,077
280,347
136,417
143,930
44,252

1,584,064
32,541
462,638
419,644
0
669,241
1,184,072
381,264
802,808
73,679

2,022,085
133,179
550,753
379,695
6,592
951,866
1,413,640
523,001
890,639
24,840

2,419,586
44,133
658,121
427,309
6,592
1,283,431
1,722,867
515,680
1,207,187
41,693

44,252
1,016,861
302,082
302,082
0
714,779

(Thousand Rupees)
2009
2010
2,788,400
135,229
3,623,554
2,501,292
229,989

2,934,338
203,945
3,873,404
2,504,073
249,553

151,879
2,187,798
34,482
792,309

226,320
2,791,451
136,836
888,200
634,559
0
1,131,856
1,179,018

0
1,361,007
1,106,714

1,106,714
408,613

1,179,018
403,209

73,679
2,198,597
639,767
639,767
0
1,558,830

24,840
2,537,000
799,709
799,709
0
1,737,291

41,693
2,916,048
839,694
839,694
0
2,076,354

0
0
408,613
3,460,871
881,679
881,679
0
2,579,192

1,617,815
1,562,909
54,906
1,258,634

3,106,025
2,886,897
219,128
2,396,547

3,594,483
3,212,934
381,549
2,817,343

4,621,198
3,960,868
660,330
3,376,931

359,181
81,501

709,478
234,067

777,140
349,323

1,244,267
457,742

403,209
4,143,562
969,846
969,846
0
3,173,716

2,579,192

3,173,716

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

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
90,903

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

81,501

234,067

349,323

457,742

4,815

56,856

45,938

70,960

292,921
78,361
24,167
15,104

558,405
15,407
191,930
159,942

475,618
14,374
159,942
39,985

807,801
131,029
167,939
41,985

993,284
280,523
264,504
88,168
1,306,190

1,278,002
330,808
242,462
96,985
883,414

1,061,113
0
190,393
136,417

2,272,276
0
351,068
381,264

2,561,840
0
301,302
523,001

2,957,741
0
508,833
515,680

3,869,484
0
448,257
0

4,546,771
0
704,733
0

1.09
0.30
15.36
1.21
3.08
77.80
0.32
24.03
32.02
30.47
8.88
6.32

0.38
1.83
13.51
0.90
1.34
77.16
0.57
23.28
34.73
33.50
2.83
6.71

0.37
1.28
10.56
0.90
1.43
78.38
0.57
12.80
20.09
19.68
2.88
6.53

0.28
1.54
9.25
0.99
1.40
73.07
0.61
18.66
29.63
29.27
4.03
7.02

0.03
2.88
0.00
1.04
1.98
70.61
0.44
20.57
31.15
29.10
2.69
6.55

0.65
1.39
9.71
1.14
2.37
71.09
0.38
23.88
33.61
30.37
3.91
7.36

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

18.11
0.00
7.10
33.66

17.98
0.00
8.49
34.37

13.23
0.00
5.77
31.72

17.48
0.00
8.06
34.73

19.13
0.86
8.08
39.25

19.56
0.56
9.77
42.72

Financial Statement Analysis of Non Financial Sector 2010

Ghani Value Glass Limited

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

178,184
41
144,965
131,776

177,203

46,367
109,699
3,479
57,357
21,658
0
27,205
171,141

4,633
152,021
14,886
82,826
18,597
0
35,712
172,193

(41,202)
82,594

(13,059)
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
24,850
9,825
15,025
12,103

6,552
124
18,838
0
(53,457)

50,557
16,387
6,028
0
24,958

116,742
0
(12,410)
0

157,031
0
28,142
0

0.15
0.00
8.16
0.92
0.64
93.86
1.47
2.28
5.61
5.61
0.34
4.62

0.19
0.00
4.76
1.19
0.88
81.55
1.27
16.39
38.65
36.93
5.67
4.72

193,067
172,570

171,141
0

172,193
12,146

0
0
0
116,742
75,350
75,350
0
(41,202)

12,146
144,885
75,350
75,350
0
(13,059)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

363

2.47
-0.31
0.85
15.49

12.94
0.14
4.53
19.23

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

595,967

550,316

726,184

738,623

675,091

1,151,303
595,967
65,410
0

1,165,311
550,316
60,313
0

1,403,034
726,184
62,466
0

1,483,407
738,623
68,095
0

744,784
815,905
71,470

695,197
84,703
815,905
880,720
64,814

112,147
23,204
51,417
25,999
0
11,527
291,238
48,484
242,754
137,390

151,673
24,823
73,144
42,180
0
11,526
341,775
51,885
289,890
109,749

102,303
14,515
59,097
18,454
0
10,237
313,685
43,000
270,685
210,829

145,165
34,433
44,405
51,748
0
14,579
458,040
85,791
372,249
132,000

(140,814)
208,234
24,316
123,939
20,425
0
39,554
186,702

(270,226)
212,324
10,231
128,900
23,341
0
49,852
204,646

137,390
279,486
109,118
109,118
0
170,368

186,702
399,823

204,646
393,579

109,749
250,465
109,118
109,118
0
141,347

210,829
303,973
145,487
145,487
0
158,486

132,000
293,748
145,487
145,487
0
148,261

0
0
399,823
296,800
145,487
145,487

730,776
730,776
0
593,598

783,484
783,484
0
638,587

744,902
744,902
0
645,613

834,464
834,464
0
695,597

137,178
56,947

144,897
67,008

99,289
65,041

138,867
64,005

393,579
309,296
145,487
145,487

104,169

120,243

104,169
47,144

120,243
43,566

832,724
832,724

933,333
933,333

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

56,947

67,008

65,041

64,005

12,707

13,574

18,245

42,052

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
34,428
12,727
232
0
0
28,481

68,994
3,025
16,368
0

65,697
26,690
0
0

16,659
4,706
18,186
0

32,919
3,865
18,186
0

0
56,718

416,876
0
49,601
48,484

360,214
0
39,007
51,885

514,802
0
(6,233)
43,000

425,748
0
10,868
85,791

696,623
0
5,105
0

702,875
0
12,495
0

0.17
1.74
3.56
1.03
0.39
81.23
1.53
10.81
30.44
19.89
4.03
14.21

0.20
1.73
5.38
1.12
0.44
81.51
1.80
9.32
24.79
16.91

0.11
2.45
2.48
0.90
0.33
86.67
1.73
2.18
6.01
3.81
0.66
12.60

0.19
5.04
6.20
0.94
0.32
83.36
2.01
3.85
11.01
7.00
1.60
18.79

0.24
4.80
2.45
0.94
1.12
84.39
1.98
1.49
4.46
2.35

0.16
3.80
2.50
1.03
1.04
87.74
1.93
1.42
4.20
1.82

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

364

10.71

9.44
0.00
6.05
25.61

8.39
0.00
3.57
22.95

2.24
0.00
0.82
20.89

3.94
0.00
2.00
20.19

6.72
1.35
1.58
0.10
0.35
20.40

7.24
1.37
1.36
0.05
0.86
21.26

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

139,399
755
160,611
132,112
14,832

206,917
57
246,083
201,827
14,691

6,532
147,391
9,557
28,779
90,342
0
18,713
118,514

5,033
119,101
6,690
19,827
66,729
0
25,855
77,834

118,514
48,903

77,834
39,371

0
0
48,903
119,373
70,000
70,000
0
49,373

39,371
208,813
200,000
200,000
0
8,813

49,373

8,813

707,465
707,465

524,383
524,383

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

651,559
497,654
153,905
55,906
26,513

495,612
366,330
129,282
28,771
27,047

26,513
41,723
13,977
13,977
27,025
9,411
0
(10,724)

27,047
41,641
11,670
11,553
(4,512)
7,027
10,000
0
1,873

168,276
0
17,614
0

248,184
0
(21,539)
0

0.84
1.98
12.77
2.47
1.24
92.10
1.40
9.42
22.64
16.06

0.94
2.23
12.73
1.61
1.53
94.51
0.56
-1.47
-2.75
-2.17
-1.15
26.45
0.61
-0.86
0.02
-0.58
10.44

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

365

24.58
2.93
3.82
-0.06
2.52
17.05

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

475,850

594,628

730,863

1,527,609

4,130,006

753,734
475,850
43,754
0

952,173
594,628
79,986
0

1,175,521
730,863
89,538
0

2,089,019
1,527,609
117,296
0

4,859,706
4,113,866
194,761

3,842,484
8,102
4,864,865
3,818,024
307,996

535,893
59,691
144,891
273,511
1,027
56,773
390,779
262,655
128,124
173,178

614,110
82,322
153,251
307,916
926
69,695
485,588
288,917
196,671
220,573

637,398
67,694
165,419
309,816
825
93,644
536,134
298,809
237,325
264,745

960,687
135,230
276,533
311,780
726
236,418
788,090
430,376
357,714
955,128

16,140
1,565,475
147,860
646,498
565,391
0
205,726
1,485,960

16,358
1,792,732
75,232
637,232
897,711
0
182,557
1,779,982

173,178
447,786
94,865
94,865
0
352,921

1,485,960
2,944,716

1,779,982
2,640,039

220,573
502,577
113,838
113,838
0
388,739

264,745
567,382
136,605
136,605
0
430,777

955,128
745,078
163,926
163,926
0
581,152

0
0
2,944,716
1,264,805
360,638
360,638
0
904,167

1,393,490
1,372,144
21,346
1,105,894

1,899,695
1,881,331
18,364
1,467,442

1,995,818
1,980,990
14,828
1,555,407

2,363,278
2,339,241
24,037
1,829,628

287,596
156,324

432,253
259,001

440,411
264,189

533,650
327,971

2,640,039
1,215,195
360,638
360,638
0
854,557

904,167

854,557

2,853,257
2,853,257

4,061,423
4,061,423

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

156,324

259,001

264,189

327,971

19,591

49,496

51,813

62,065

112,608
43,000
12,936
0

126,004
44,747
17,076
0

126,143
27,921
0
27,321

144,765
31,364
0
32,785

620,964
0
56,672
262,655

723,150
0
64,181
288,917

832,127
0
98,222
298,809

1,700,206
0
113,401
430,376

0.86
1.41
19.63
1.38
1.37
79.36
1.26
12.76
27.49
20.34
5.38
9.62

0.81
2.61
16.21
1.57
1.26
77.25
1.41
11.35
26.52
18.75
4.76
12.40

0.71
2.60
15.52
1.46
1.19
77.93
1.41
9.79
23.58
16.22

0.57
2.63
13.19
0.95
1.22
77.42
2.34
7.51
22.06
11.43

2,068,445
1,051,676
1,016,769
784,812
446,795
383,930
62,865
268,485
266,836
263,402
73,548
(25,801)

3,002,044
1,455,916
1,546,128
1,059,379
619,320
559,697
59,623
388,717
495,362
491,412
(51,383)
1,773
0
0
(198,605)

0
(70,871)

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

4,209,521
0

3,855,234
0
(53,156)
0

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

366

0.48
9.35
19.82
0.50
1.05
72.49
3.50
1.80
7.32
2.49

0.55
12.20
22.10
0.72
1.01
73.92
3.64
-0.91
-4.14
-1.27

12.07

8.55

4.41
1.28
2.58
-0.02

6.37
0.90
-1.27
-0.04
-0.74
16.85

8.08
0.00
7.34
47.20

6.63
0.00
3.57
22.07

6.32
0.00
3.60
20.77

6.13
0.00
3.46
22.73

17.54

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

392,978

446,858

613,788

747,074

813,427

958,565
392,978
60,057
0

1,058,398
446,858
52,882
0

1,278,901
613,788
56,759
0

1,474,175
747,074
63,212
0

1,626,642
806,500
93,571

909,621
139,167
1,688,353
762,244
106,480

255,738
6,724
71,998
6,435
0
170,581
407,229
114,678
292,551
39,203

325,394
7,784
78,882
9,239
0
229,489
468,803
141,181
327,622
57,018

355,201
11,451
79,544
14,303
0
249,903
531,595
123,915
407,680
145,677

418,274
5,908
97,511
16,527
0
298,328
529,836
155,276
374,560
110,764

6,927
434,832
9,647
97,993
20,040
0
307,152
434,719

8,210
455,158
14,556
144,942
35,158
0
260,502
431,342

39,203
202,284
100,000
100,000
0
102,284

434,719
319,495

431,342
314,993

57,018
246,431
110,000
110,000
0
136,431

145,677
291,717
115,500
115,500
0
176,217

110,764
524,748
231,000
231,000
0
293,748

0
0
319,495
494,045
231,000
231,000
0
263,045

972,931
902,345
70,586
852,634

1,253,218
1,158,241
94,977
1,077,042

1,400,867
1,309,083
91,784
1,201,177

1,480,552
1,416,383
64,169
1,360,294

120,297
63,383

176,176
91,519

199,690
89,593

120,258
91,196

314,993
618,444
231,000
231,000
0
387,444

263,045

387,444

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
(36,561)
5,859

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
41,266
188,157
46,433
40,425
0
344,531

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

63,383

91,519

89,593

91,196

18,984

25,462

33,700

34,636

40,031
529
0
0

62,237
4,449
0
0

77,368
8,995
11,550
0

(5,096)
6,193
0
0

0
30,914

241,487
0
39,502
114,678

303,449
0
57,788
141,181

437,394
0
56,823
123,915

635,512
0
(11,289)
155,276

813,540
0
(42,420)
0

933,437
0
101,299
0

0.03
1.95
0.66
1.50
0.63
87.64
2.21
6.54
21.62
17.79

0.04
2.03
0.74
1.62
0.69
85.94
2.13
8.76
27.74
22.84

0.05
2.41
1.02
1.45
0.67
85.75
2.32
8.89
28.75
20.89
5.92
17.61

0.04
2.34
1.12
1.27
0.79
91.88
1.22
-0.48
-1.25
-0.95

0.07
4.00
1.42
1.13
1.00
90.97
1.53
-3.03
-7.18
-5.05

0.12
2.18
1.70
1.52
1.06
80.72
1.21
14.40
33.83
21.54
3.51
14.29
5.56
9.08
0.46
6.14
26.77

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

367

13.51

15.89

15.18

14.39
0.28
-2.59
0.04
-1.84
21.39

4.11
0.00
3.95
20.23

4.97
0.00
5.25
22.40

5.52
0.00
5.92
25.26

-0.34
0.00
-0.49
22.72

MOTOR VEHICLES, TRAILERS AND AUTOPARTS

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

14,649,736

21,441,336

25,471,498

28,373,770

26,793,188
14,474,499
2,038,217
175,237

35,642,041
21,116,209
2,575,418
325,127

42,204,216
24,962,071
2,862,769
509,427

48,234,261
27,845,540
3,269,274
528,230

69,157,787
29,605,695
23,812,336
2,166,251
5,122,811
8,450,694
51,487,611
13,070,030
38,417,581
2,856,332

75,632,915
23,012,274
32,360,597
3,779,373
7,346,153
9,134,518
53,587,764
7,826,550
45,761,214
4,349,836

67,844,965
20,566,507
27,350,806
4,428,025
6,086,994
9,412,633
43,367,383
5,765,549
37,601,834
4,521,578

63,528,768
12,113,151
26,291,808
5,945,807
6,178,649
12,999,353
40,117,110
7,933,026
32,184,084
2,721,626

2,856,332
29,463,580
5,572,980
5,572,980
0
23,890,600

4,349,836
39,136,651
5,735,501
5,735,501
0
33,401,150

4,521,578
45,427,502
6,220,533
6,220,533
0
39,206,969

2,721,626
49,063,802
7,232,752
7,232,752
0
41,831,050

159,819,806
159,652,700
167,106
145,109,465

198,877,614
198,772,592
105,022
178,498,682

205,183,543
205,013,062
170,481
186,210,710

207,326,876
207,137,804
189,072
192,965,276

14,710,341
4,510,590

20,378,932
5,836,467

18,972,833
6,488,634

14,361,600
6,518,772

(Thousand Rupees)
2009
2010
32,617,761
1,630,026
45,932,836
25,891,767
2,383,079
630,520
928,061
3,537,387
66,776,479
19,425,078
27,295,725
6,125,388
2,224,349
11,705,939
43,870,792
13,234,930
30,635,862
5,930,420
2,312,133
0
0
945
3,617,342
49,593,028
7,653,541
7,653,541
0
38,721,343
1,792,127
34,772,186
3,218,144

31,625,378
905,931
49,049,301
25,930,138
2,858,477
696,695
929,222
3,163,392
85,689,479
25,737,103
30,802,800
6,722,358
5,644,937
16,782,281
56,872,727
12,914,674
43,958,053
5,736,767
1,916,701
0
0
49,787
3,770,279
54,705,363
7,836,087
7,836,087
0
43,047,151
2,260,285
36,825,156
3,822,125
225,772,200
225,642,673
129,527
206,598,575
178,436,257
28,144,396
19,173,625
7,973,791
3,315,062
4,658,729
5,589,429
1,582,681
919,362
13,595,398
5,774,925
4,691,141
378,795
18,018,863

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

11,772,268
3,522,365
1,718,942
121,832

17,418,415
5,639,726
5,614,899
678,201

14,170,578
4,782,137
3,130,947
152,985

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
3,052,048
3,354,180
319,563
7,599,530

32,319,912
0
6,530,961
13,070,030

43,486,487
0
6,163,790
7,826,550

49,949,080
0
6,257,494
5,765,549

51,785,428
0
3,308,625
7,933,026

55,523,448
2,312,133
(1,552,821)
15,547,063

60,442,130
1,916,701
3,129,333
14,831,375

0.72
0.42
1.36
1.91
1.34
90.80
1.84
16.14
45.36
41.87
4.80
6.71

0.64
0.64
1.90
2.05
1.41
89.75
1.48
19.26
50.78
45.95
2.10
6.15

0.72
0.81
2.16
2.20
1.56
90.75
1.05
14.89
33.51
30.33
3.00
7.50

0.60
1.09
2.87
2.26
1.58
93.07
0.87
9.86
19.33
17.95
2.22
7.89

0.63
1.65
3.76
1.64
1.52
92.38
1.00
5.13
9.79
9.01
0.54
5.97
5.05
2.98
0.15
2.25
61.90

0.67
0.70
2.98
1.92
1.51
91.51
1.14
12.62
25.81
23.39
1.67
7.33
15.79
6.02
0.29
9.54
66.76

4,510,590

5,836,467

6,488,634

6,518,772

663,574

1,276,625

1,652,522

2,258,305

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

370

7.37
0.00
13.96
49.87

8.76
0.00
19.40
64.47

6.91
0.00
14.32
69.30

4.40
0.00
7.96
64.84

Growth with Composition of Assets & Liabilites

Billion Rs

90
80
70
60
50
40
30
20
10
0

35%
30%
25%
20%
15%
10%
5%
0%
-5%

29.6%
28.3%
10.3%

-3.3%

-3.0%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

Growth
200%

250
180.1%

Billion Rs

200

150%

150

100%
100
54.3%

50
38.5%

0%

Sales

Gross Profit

2009

30

Percentage

2010

2010

9.54

23.39

8
12.62

9.79
5.13

9.01

Percentage

20

10

2009

10

25.81

25

Net Profit Before Tax

Key Performance Indicators

Profitability/Efficiency Ratios

15

50%

6.02
6

2.98
1.52

1.51

Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

1.00

2.25

1.14

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

Agriauto Industries Limited

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

90,647

127,109

152,633

303,374

277,030
90,647
15,038
0

319,763
127,109
19,091
0

364,992
152,633
21,607
0

530,829
303,374
21,085
0

603,258
26,957
188,941
157,116
200,145
30,099
107,228
2,022
105,206
0

900,898
35,301
312,497
156,768
352,920
43,412
175,914
5,233
170,681
11,802

1,054,575
49,299
310,054
222,777
425,934
46,511
158,184
7,283
150,901
8,639

1,168,158
163,353
285,016
190,395
439,230
90,164
231,554
8,301
223,253
2,691

0
586,677
120,000
120,000
0
466,677

11,802
840,291
120,000
120,000
0
720,291

8,639
1,040,385
120,000
120,000
0
920,385

2,691
1,237,287
120,000
120,000
0
1,117,287

1,455,696
1,455,696
0
1,095,599

2,029,029
2,029,029
0
1,496,388

2,279,567
2,279,567
0
1,742,995

2,484,873
2,484,873
0
1,973,011

360,097
55,479

532,641
89,035

536,572
101,742

511,862
114,385

(Thousand Rupees)
2009
2010
556,830
0
599,080
344,480
35,412
0
210,375
1,975
1,114,661
225,651
448,686
237,009
152,038
51,277
195,987

347,688
13,775
623,979
331,661
45,744
0
0
2,252
1,801,777
193,058
630,739
309,221
609,152
59,607
303,069

195,987
33,336
0
0
0
33,336
1,442,168
144,000
144,000
0
1,298,168
1,298,168

303,069
29,070
0
0
0
0
29,070
1,817,326
144,000
144,000
0
1,673,326
1,673,326

2,413,309
2,413,309

3,906,482
3,906,482

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,950,248
2,569,980
380,268
956,234
181,649
50,786
130,863
39,586
1,087
661
685,273
291,031
129,600
30,000
370,771

316,542
63,000
36,000
0

460,688
156,854
42,000
0

466,166
155,950
42,000
0

427,852
143,460
24,000
24,000

1,928,143
1,638,386
289,757
485,166
124,905
43,459
81,446
28,745
4,748
1,040
401,878
128,507
57,600
30,000
109,945

586,677
0
217,542
2,022

852,093
0
261,834
5,233

1,049,024
0
268,216
7,283

1,239,978
0
260,392
8,301

1,475,504
0
215,771
0

1,846,396
0
264,642
0

3.58
0.04
10.79
2.10
5.63
75.26
0.18
50.21
68.35
68.35
7.04
7.70

3.10
0.06
7.73
1.97
5.12
73.75
0.22
53.51
64.57
64.04
7.23
6.49

4.41
0.11
9.77
1.89
6.67
76.46
0.16
41.71
49.57
49.04
7.39
7.35

3.42
0.08
7.66
1.69
5.04
79.40
0.19
31.94
37.57
37.38
11.85
8.72

3.14
0.20
9.82
1.44
5.69
79.90
0.16
25.57
30.00
29.60
4.75
5.38
387.42
16.65
0.48
9.49
50.08

3.67
0.03
7.92
1.82
5.95
75.52
0.18
35.87
42.05
41.26
3.04
6.19
1,037.72
17.54
1.12
13.69
63.10

55,479

89,035

101,742

114,385

542

1,116

2,456

1,960

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

372

21.75
0.00
10.56
24.44

22.70
0.00
12.66
35.01

20.45
0.00
12.93
43.35

17.22
0.00
11.85
51.55

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

158,513

252,243

244,928

235,452

255,920

334,475
158,513
15,476
0

433,906
252,243
16,917
0

448,614
244,928
28,303
0

457,753
235,452
27,165
0

499,336
252,695
28,614

7,086,948
5,017,307
740,140
6,933
751,294
571,274
4,121,706
0
4,121,706
0

7,026,146
5,142,121
731,002
6,116
526,808
620,099
3,728,509
0
3,728,509
0

6,582,380
4,384,551
708,733
24,271
1,018,800
446,025
2,976,087
0
2,976,087
0

6,850,558
3,348,997
1,931,399
7,143
446,760
1,116,259
2,658,238
0
2,658,238
0

0
3,123,755
214,682
214,682
0
2,909,073

3,225
7,124,751
3,522,479
1,253,682
20,292
0
2,328,298
1,907,421

409,533
8,378
606,064
360,293
31,801

40,000
862
7,256,621
3,112,794
1,073,122
264,063
0
2,806,642
1,241,289

1,907,421
53,331

1,241,289
62,144

0
3,549,880
214,682
214,682
0
3,335,198

0
3,851,221
214,682
214,682
0
3,636,539

0
4,427,772
214,682
214,682
0
4,213,090

0
0
53,331
5,419,919
214,682
214,682
0
5,205,237

7,851,603
7,851,603
0
6,249,055

9,148,272
9,148,272
0
7,513,225

9,209,528
9,209,528
0
7,556,042

10,241,887
10,241,887
0
8,664,100

1,602,548
262,847

1,635,047
286,766

1,653,486
294,878

1,577,787
291,599

62,144
6,362,721
214,682
214,682
0
6,148,039

5,205,237

6,148,039

15,764,825
15,764,825

14,936,034
14,936,034

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

262,847

286,766

294,878

291,599

7,517

2,761

3,012

2,734

13,119,011
11,522,462
1,596,549
2,645,814
395,896
87,569
308,327
308,178
2,154

11,987,519
11,220,970
766,549
2,948,515
428,718
92,605
336,113
322,174
1,324

1,635,556
576,581
214,682
19,517

1,910,180
645,000
3,756,935
0

1,914,454
662,951
751,387
0

1,682,941
562,000
751,387
0

2,658,834
915,299
858,728
0
227,392

2,900,113
991,241
858,728
0
1,548,399

3,123,755
0
844,293
0

3,549,880
0
(2,491,755)
0

3,851,221
0
500,116
0

4,427,772
0
369,554
0

5,473,250
0
884,807
0

6,424,865
0
1,050,144
0

1.40
0.10
0.09
1.08
1.72
79.59
1.32
28.63
56.51
56.51
4.93
10.61

1.52
0.03
0.07
1.26
1.88
82.13
1.05
26.30
57.25
57.25
0.34
12.51

1.82
0.03
0.26
1.35
2.21
82.05
0.77
27.14
51.73
51.73
1.67
12.99

1.43
0.03
0.07
1.45
2.58
84.59
0.60
24.19
40.66
40.66
1.49
5.30

1.86
0.01
0.13
2.14
3.74
83.22
0.36
36.76
54.00
53.71
2.03
12.57

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

373

2.72
0.01
1.77
1.95
5.85
80.26
0.20
38.55
49.23
48.75
2.22
13.92

20.83
0.00
24.66
72.75

20.88
0.00
29.47
82.68

20.79
0.00
29.15
89.70

16.43
0.00
26.11
103.12

16.87
0.12
40.61
126.23

19.42
1.19
44.46
148.19

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

151,563

239,712

310,995

517,862

282,783
151,188
18,051
375

392,155
239,712
25,250
0

491,479
310,995
33,896
0

680,655
517,862
35,679
0

354,173
32,607
211,650
0
0
109,916
205,740
90,314
115,426
60,000

323,175
30,309
218,012
45,864
254
28,736
247,435
106,974
140,461
40,000

444,247
37,501
306,171
51,834
0
48,741
419,244
171,200
248,044
0

688,874
49,274
410,672
77,387
0
151,541
626,638
313,002
313,636
0

637,733
58,469
830,023
576,825
43,082
0
0
2,439
588,698
28,892
434,594
88,521
6,132
30,559
435,472
103,616
331,856
85,627

0
0

60,000
239,996
45,977
45,977
0
194,019

40,000
275,452
52,874
52,874
0
222,578

0
335,998
60,805
60,805
0
275,193

0
580,098
69,926
69,926
0
510,172

1,230,481
1,218,394
12,087
1,072,898

1,564,081
1,556,340
7,741
1,375,018

2,065,403
2,063,185
2,218
1,773,781

3,376,598
3,376,598
0
2,989,715

157,583
100,349

189,063
115,097

291,622
148,619

386,883
183,145

757,126
75,404
986,170
680,935
54,226
0
0
787
756,814
29,869
531,597
100,396
26,224
68,728
544,754
174,598
370,156
111,246

85,627
705,332
69,926
69,926
0
461,620
282,500
179,120
173,786

111,246
857,940
83,911
83,911
0
600,243
375,500
224,743
173,786
4,024,422
4,024,422
3,433,222
2,841,250
591,972
591,200
235,312
128,861
106,451
102,918
19,857
17,612
341,289
118,755
83,911
70,911
190,487

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

54,004
9,727
19,709
13,136

66,224
6,070
13,793
6,897

122,257
26,540
36,483
46,649

164,131
59,489
52,445
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

299,996
0
24,568
90,314

315,452
0
46,361
106,974

335,998
0
59,234
171,200

580,098
0
52,197
313,002

790,959
0
107,752
103,616

969,186
0
138,623
174,598

0.16
0.75
0.00
2.43
1.72
87.19
1.11
12.25
24.68
21.70
2.25
5.81

0.31
1.14
2.93
2.78
1.31
87.91
1.04
12.39
25.70
21.52
4.36
7.17

0.21
1.07
2.51
2.73
1.06
85.88
1.25
18.55
39.99
37.53
2.62
6.75

0.20
1.23
2.29
2.80
1.10
88.54
1.08
16.73
35.83
35.83
2.00
8.22

0.28
1.38
2.80
2.57
1.35
83.21
0.74
22.43
42.46
39.81
2.54
7.26
7.56
8.64
0.78
25.41
100.87

0.29
0.49
2.49
2.66
1.39
85.31
0.76
24.91
43.66
38.78
2.65
7.57
20.38
8.48
0.29
26.52
102.24

100,349

115,097

148,619

183,145

9,199

17,877

22,042

41,536

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

374

4.39
0.00
9.63
52.20

4.23
0.00
11.38
52.10

5.92
0.00
15.74
55.26

4.86
0.00
14.96
82.96

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

503,471

592,672

889,787

876,807

776,739
503,258
23,158
213

908,668
591,980
44,949
692

1,258,104
889,331
53,776
456

1,286,776
876,110
53,444
697

211,129
6,918
117,738
40,079
0
46,394
284,736
132,215
152,521
165,959

311,057
13,621
207,842
30,387
0
59,207
464,390
231,816
232,574
169,062

247,550
10,132
154,634
0
0
82,784
460,902
279,845
181,057
120,821

332,201
6,778
197,464
44,042
0
83,917
528,655
306,878
221,777
105,362

165,959
263,905
123,367
123,367
0
140,538

169,062
270,277
123,367
123,367
0
146,910

120,821
555,614
123,367
123,367
0
432,247

105,362
574,991
123,367
123,367
0
451,624

796,202
796,202
0
673,604

1,114,687
1,114,687
0
976,487

1,087,782
1,087,782
0
1,010,107

1,411,651
1,411,651
0
1,269,887

122,598
47,745

138,200
45,878

77,675
49,041

141,764
58,619

(Thousand Rupees)
2009
2010
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

83,160
641,638
246,734
246,734

(20,876)

(20,876)
415,780

854,852
44,929
0
799,131
0
0
0
10,792
382,404
2,767
176,340
105,520
0
97,777
395,227
161,894
233,333
164,247
70,268
0
0
0
93,979
677,782
246,734
246,734
0
15,268
0
15,268
415,780

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

30,133
8,507

1,529,328
1,529,328
0
1,341,549
960,716
380,833
187,779
77,119
20,690
56,429
191,676
52,721
48,555
58,062
21,918
0
30,133
92,429

676,435
0
(20,203)
279,845

680,353
0
20,401
306,878

786,298
61,500
(71,081)
236,623

842,029
70,268
36,144
232,162

0.02
4.88
0.00
0.96
0.54
92.86
1.05
-1.53
-3.77
-2.79

0.10
3.82
3.12
1.17
0.63
89.96
1.10
2.53
5.25
4.37
3.20
7.15

0.36
5.85
11.04
0.99
0.91
94.35
0.79
-5.02
-9.74
-8.08

0.27
3.45
6.90
1.24
0.97
87.72
0.83
4.86
8.80
7.13

47,745

45,878

49,041

58,619

14,768

35,653

53,042

53,861

69,849
3,508
12,337
0

57,181
4,737
12,337
0

(15,574)
4,629
0
0

29,654
0
9,253
0

429,864
0
54,004
132,215

439,339
0
40,107
231,816

0.17
1.85
5.03
1.11
0.74
84.60
1.71
11.49
28.39
19.75
5.38
6.76

0.09
3.20
2.73
1.23
0.67
87.60
2.34
7.07
21.41
13.16
4.25
5.36

1,135,161
1,135,161

1,070,977
62,018
1,008,959
64,184
63,548
18,470
45,078
158,667
66,355
61,292
(59,274)
11,807

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

375

7.03

8.77
0.00
5.38
21.39

5.13
0.00
4.25
21.91

-1.43
0.00
-1.64
45.04

2.10
0.00
2.40
46.61

9.41
0.03
-5.22
0.02
-2.88
26.01

8.67
2.20
3.80
0.17
1.46
27.47

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,907,461

3,627,822

3,591,255

3,391,418

3,154,250
1,888,736
422,679
18,725

5,247,876
3,598,732
399,070
29,090

5,621,763
3,566,931
459,154
24,324

5,867,597
3,376,605
459,144
14,813

4,183,867
1,432,363
1,567,530
139,701
410,241
634,032
3,047,358
231,981
2,815,377
933,019

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

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

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

933,019
2,110,951
255,460
255,460
0
1,855,491

(Thousand Rupees)
2009
2010
3,452,825
187,161
5,958,160
3,225,740
308,895
16,601

3,263,096
64,231
6,237,214
3,160,666
440,775
8,053

23,323
3,927,828
636,426
1,792,036
320,180
0
1,179,186
3,108,529

30,146
5,259,180
1,641,963
1,664,297
445,689
0
1,507,231
3,517,937

3,108,529
950,862

3,517,937
1,112,515

1,590,097
2,665,467
357,644
357,644
0
2,307,823

1,109,267
2,975,821
411,291
411,291
0
2,564,530

697,517
3,404,169
472,985
472,985
0
2,931,184

0
0
950,862
3,321,262
472,985
472,985
0
2,848,277

16,855,150
16,855,150
0
15,510,979

20,547,248
20,547,248
0
18,917,531

19,601,115
19,601,115
0
18,037,342

24,301,710
24,301,710
0
22,745,169

1,344,171
508,669

1,629,717
604,081

1,563,773
641,602

1,556,541
564,120

1,112,515
3,891,824
543,932
543,932
0
3,347,892

2,848,277

3,347,892

13,747,820
13,747,820

25,554,774
25,554,774

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

508,669

604,081

641,602

564,120

68,050

151,611

269,337

252,091

12,782,165
10,138,007
2,644,158
965,655
450,843
271,346
179,497
400,527
251,777

23,555,842
19,025,794
4,530,048
1,998,932
1,042,291
690,794
351,497
901,072
112,613

938,965
383,800
0
0

1,047,060
138,014
214,586
53,647

803,515
98,000
246,775
61,694

1,004,200
298,000
307,440
0

352,779
128,246
141,896
70,948
807,624

1,077,233
364,773
271,966
81,590
1,037,348

3,043,970
0
555,165
231,981

4,255,564
0
694,460
387,191

4,085,088
0
458,740
465,829

4,101,686
0
398,760
436,751

4,272,124
0
82,638
0

5,004,339
0
440,494
0

0.65
0.40
0.83
2.77
1.37
92.03
1.89
18.41
51.81
37.76

0.39
0.74
1.36
2.69
1.19
92.07
1.86
15.26
43.84
28.69
4.24
10.60

0.52
1.37
1.44
2.44
1.12
92.02
1.70
10.26
28.49
19.27
2.86
12.40

0.50
1.04
1.68
2.79
1.15
93.59
1.56
12.00
31.48
24.53
2.30
13.05

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

10.75

376

0.31
1.83
2.33
1.86
1.26
92.98
1.22
4.39
10.49
8.43
1.58
7.67

0.59
0.44
1.74
3.00
1.49
92.18
1.19
13.55
29.87
23.23
2.62
15.35

5.57
0.00
21.73
82.63

5.10
0.00
25.42
74.53

4.10
0.00
17.15
72.35

4.13
0.00
14.93
71.97

2.57
0.20
4.75
70.22

4.22
0.22
13.10
71.55

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

171,438

239,783

353,235

374,795

561,767
168,616
19,781
2,822

650,472
238,478
20,677
1,305

793,209
353,235
28,882
0

852,908
374,795
1,290
0

421,135
26,712
232,062
87,943
8,712
65,706
164,723
25,858
138,865
24,468

590,002
97,684
319,377
106,448
2,371
64,122
251,609
15,554
236,055
47,685

613,445
68,985
318,348
114,277
2,479
109,356
278,127
30,756
247,371
64,745

610,375
52,205
275,420
98,689
77,562
106,499
238,169
20,874
217,295
43,872

24,468
403,382
115,950
115,950
0
287,432

47,685
530,491
133,343
133,343
0
397,148

64,745
623,808
133,343
133,343
0
490,465

908,060
898,295
9,765
721,967

416,875
7,308
924,966
403,674
43,432

315
5,578
537,157
30,510
325,773
92,550

405,330

962,266
399,774
45,346
440
611
4,505
605,613
12,377
403,513
120,664

88,324
143,988

69,059
164,240

143,988
87,439
27,701
0

43,872
703,129
133,343
133,343
0
569,786

0
59,738
722,605
133,343
133,343
0
589,262

164,240
76,814
19,786
0
0
0
57,028
769,889
133,343
133,343
0
636,546

1,332,150
1,323,964
8,186
1,028,223

1,344,021
1,323,090
20,931
1,057,512

1,434,873
1,402,842
32,031
1,168,730

186,093
64,545

303,927
77,642

286,509
81,999

266,143
93,967

1,380,901
1,337,810
43,091
1,113,091
147,761
965,330
267,810
110,011
35,715
74,296
125,408
12,219
11,612
148,355
64,698
33,336
40,583
50,523

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

148,586
53,298
17,393
0

225,731
75,257
17,393
17,393

196,129
26,284
26,669
0

170,383
54,321
16,668
0

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

427,850
0
77,895
25,858

578,176
0
133,081
15,554

688,553
0
143,176
30,756

747,001
0
99,394
20,874

810,044
27,701
16,619
27,701

846,703
19,786
50,321
19,786

0.75
0.93
9.68
1.53
2.56
79.51
0.47
26.08
42.13
40.48
5.48
3.91

0.82
0.56
7.99
1.61
2.34
77.19
0.56
31.74
48.34
44.88
8.65
4.17

0.67
1.10
8.50
1.39
2.21
78.68
0.55
21.83
33.98
30.97
6.37
4.22

0.96
0.75
6.88
1.46
2.56
81.45
0.40
17.46
25.68
23.74
6.96
5.21

0.85
1.68
8.45
1.15
3.73
87.95
0.32
5.47
7.44
6.81
1.83
3.36
4.11
4.84
0.46
2.75
54.19

0.81
0.88
8.74
1.37
3.69
80.61
0.31
15.10
19.88
17.91
2.51
3.42
13.78
10.74
0.21
6.27
57.74

64,545

77,642

81,999

93,967

8,422

7,468

14,849

10,810

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

16.36
0.00
8.22
34.79

16.94
0.00
11.28
39.78

14.59
0.00
12.74
46.78

11.87
0.00
8.70
52.73

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

207,088

203,760

200,684

201,302

348,507
207,088
6,542
0

351,968
203,760
6,788
0

354,207
200,684
6,554
0

361,356
201,302
6,531
0

2,388

2,444

101,369
2,271
21,096
11,153
0
66,849
84,204
37,355
46,849
47,219

112,011
1,975
23,823
12,967
0
73,246
89,441
37,545
51,896
45,180

113,338
1,280
26,469
11,978
0
73,611
87,077
37,922
49,155
44,354

121,825
1,124
30,300
13,825
0
76,576
88,791
42,060
46,731
47,463

130,152
557
49,989
10,182

133,844
1,319
51,720
11,140

47,219
177,034
58,000
58,000
0
119,034

45,180
181,150
58,000
58,000
0
123,150

44,354
182,591
58,000
58,000
0
124,591

47,463
186,873
58,000
58,000
0
128,873

81,127
81,127
0
66,272

94,356
94,356
0
83,793

64,601
64,601
0
55,724

84,545
84,545
0
71,342

14,855
8,128

10,563
8,133

8,877
6,829

13,203
6,798

201,715
19,776
345,214
179,551
6,396

196,295
20,347
345,234
173,504
6,068

69,424
99,109
34,506
64,603
45,330
41,997

69,665
98,041
34,506
63,535
43,777
41,997

3,333
187,428
58,000
58,000

1,780
188,321
58,000
58,000

(2,273)
14,700
(16,973)
131,701

2,452
14,700
(12,248)
127,869

41,664
41,664

57,220
57,220

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

8,128

8,133

6,829

6,798

790

1,510

1,750

2,004

6,896
388
0
0

5,307
381
0
0

1,714
273
0
0

4,639
357
0
0

224,253
0
6,508
37,355

226,330
0
4,926
37,545

0.16
0.97
13.75
0.26
1.20
81.69
0.74
2.51
4.66
3.58

0.17
1.60
13.74
0.30
1.25
88.81
0.74
1.70
2.96
2.36

32,598
23,649
8,949
9,066
7,681
2,490
5,191
5,695
1,331
1,012
554

48,524
25,376
23,148
8,696
7,119
2,572
4,547
4,975
399
303
1,178
286

0
6,907

0
3,017

226,945
0
1,441
37,922

234,336
0
4,282
42,060

232,758
41,997
554
76,503

232,098
41,997
892
76,503

0.15
2.71
18.54
0.21
1.30
86.26
0.72
0.54
0.94
0.76

0.17
2.37
16.35
0.26
1.37
84.38
0.73
1.46
2.51
2.01

0.11
3.19
24.44
0.13
1.31
78.24
0.77
0.17
0.30
0.24

0.13
0.70
19.47
0.17
1.37
84.80
0.75
0.36
0.63
0.51

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

378

3.85

3.96

2.44

2.79

0.83
1.55
1.33
0.05
0.10
32.32

1.11
4.89
2.06
0.02
0.15
32.47

8.50
0.00
1.12
30.52

5.62
0.00
0.85
31.23

2.65
0.00
0.25
31.48

5.49
0.00
0.74
32.22

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

87,178

203,383

255,249

252,155

348,025
87,178
11,175
0

484,769
203,383
11,895
0

551,571
255,249
17,671
0

575,063
252,155
27,398
0

245,898
22,937
100,391
51,418
8,500
62,652
74,562
0
74,562
0

354,534
37,170
125,315
71,251
16,747
104,051
98,615
43,464
55,151
121,190

460,390
18,231
206,713
101,690
18,975
114,781
306,156
208,242
97,914
84,128

554,791
6,091
157,689
193,471
0
197,540
421,675
310,362
111,313
50,332

0
258,514
55,253
55,253
0
203,261

121,190
338,112
55,253
55,253
0
282,859

84,128
325,355
55,253
55,253
0
270,102

50,332
334,939
60,778
60,778
0
274,161

636,731
636,731
0
531,356

977,083
977,083
0
874,842

1,079,737
1,079,737
0
991,137

1,310,852
1,307,275
3,577
1,196,909

105,375
22,921

102,241
22,985

88,600
27,298

113,943
52,452

(Thousand Rupees)
2009
2010
255,171
1,918
585,971
239,532
27,682
796
8,050
4,875
639,502
15,705
149,532
278,732
0
195,533
444,777
289,830
154,947
65,532
14,082
0
0
0
51,450
384,364
79,012
79,012
0
305,352
0
305,352
0

249,506
1,918
604,773
233,821
26,890
467
8,338
4,962
793,498
11,181
193,731
409,893

1,707,846
1,705,037
2,809
1,468,284
852,993
615,291
239,562
87,377
42,036
45,341
126,892
44,170
40,905
125,749
43,591

178,693
509,446
221,867
287,579
66,749
14,082

52,667
466,809
94,814
94,814

371,995

371,995

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

83,378
29,734
27,627
0

72,910
25,482
0
0

39,870
4,384
0
5,525

34,501
5,653
0
6,078

1,604,626
1,604,626
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
11,603
23,627

258,514
0
26,017
0

459,302
0
47,428
43,464

409,483
0
35,486
208,242

385,271
0
28,848
310,362

449,896
14,082
34,026
303,912

533,558
14,082
82,158
235,949

1.11
0.10
8.08
1.91
3.30
83.45
0.29
25.03
31.92
31.92
1.94
6.34

1.27
0.89
7.29
1.75
3.60
89.54
0.65
16.37
24.44
20.31

0.45
2.26
9.42
1.51
1.50
91.79
1.20
6.26
12.02
9.18

0.47
2.51
14.76
1.62
1.32
91.31
1.41
4.53
10.45
8.68

0.66
3.63
17.37
1.79
1.44
89.76
1.33
6.25
14.78
12.73

0.83
2.59
24.00
1.64
1.56
85.97
1.23
12.98
29.55
25.57

22,921

22,985

27,298

52,452

618

8,724

24,429

32,903

27,406
84,150

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

379

7.80

5.22

8.31

10.73
2.01
3.31
0.05
4.31
48.65

8.82
4.07
7.36
0.15
8.67
49.23

13.09
0.00
9.71
46.79

7.46
0.00
8.58
61.19

3.69
0.00
6.42
58.88

2.63
0.00
4.75
55.11

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

112,007

132,872

672,613

1,012,468

188,377
105,776
9,481
6,231

188,377
118,249
12,566
14,623

870,005
634,088
62,982
38,525

1,046,491
975,287
61,375
37,181

115,673
919
81,915
3,727
0
29,112
277,946
0
277,946
0

334,957
31,038
212,665
2,450
0
88,804
615,403
0
615,403
0

1,278,220
47,694
414,767
22,107
40,000
753,652
2,183,202
26,808
2,156,394
43,192

985,513
41,723
283,571
12,922
0
647,297
2,442,094
326,722
2,115,372
21,274

0
(50,266)
90,000
90,000
0
(140,266)

(Thousand Rupees)
2009
2010
675,579
679
713,825
603,917
66,409
27,886

620,566
679
711,680
558,392
44,875
18,591

43,097
516,786
5,982
242,616
24,569
0
243,619
1,464,747

42,904
402,374
1,154
182,426
22,459
0
196,335
1,540,593

1,464,747
782,840

1,540,593
779,362

0
(147,574)
90,000
90,000
0
(237,574)

43,192
(275,561)
214,000
214,000
0
(489,561)

21,274
(465,387)
214,000
214,000
0
(679,387)

0
0
782,840
(1,055,222)
214,000
214,000
0
(1,424,211)

(1,424,211)
154,989

(1,659,962)
148,947

14,617
14,617
0
30,880

131,086
131,086
0
184,017

682,705
682,705
0
746,581

628,699
628,699
0
682,189

283,972
283,972

121,422
121,422

(16,263)
21,254

(52,931)
35,162

(63,876)
143,894

(53,490)
128,568

779,362
(1,297,015)
214,000
214,000
0
(1,659,962)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

21,254

35,162

143,894

128,568

6,360

8,443

133,889

120,132

294,145
151,839
142,306
(10,173)
433,993
35,831
398,162
79,012
149,342
149,001
(593,326)

162,765
66,911
95,854
(41,343)
363,893
16,195
347,698
17,778
112,644
112,455
(517,575)

0
59,020

0
(14,300)

(43,119)
108
0
0

(96,035)
656
0
0

(336,518)
3,242
0
0

(306,021)
2,807
0
0

(50,266)
0
(43,227)
0

(147,574)
0
(96,691)
0

(232,369)
0
(339,760)
26,808

(444,113)
0
(308,828)
326,722

(272,382)
0
(593,326)
0

(517,653)
0
(517,575)
0

0.02
43.51
25.50
0.06
0.42
211.26
-5.53
-21.10
151.40
-130.58

0.05
6.44
1.87
0.28
0.54
140.38
-4.17
-27.62
97.08
97.08

0.05
19.61
3.24
0.35
0.59
109.36
-8.08
-27.83
159.06
177.14

0.02
19.11
2.06
0.31
0.40
108.51
-5.29
-15.50
82.60
90.47

0.02
52.59
8.65
0.24
0.35
103.58
-2.13
-37.20
78.04
165.62

0.02
92.77
18.50
0.12
0.26
134.05
-1.79
-46.73
44.01
131.03

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

380

0.18

0.62

1.65

2.22

1.17
-2.98
-208.94
0.03
-27.73
-49.31

0.67
-3.60
-426.26
-0.01
-24.19
-60.61

-294.99
0.00
-4.80
-5.59

-73.26
0.00
-10.74
-16.40

-49.29
0.00
-15.88
-12.88

-48.68
0.00
-14.43
-21.75

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,030,232

2,377,137

2,356,285

2,178,035

2,734,823
2,030,232
159,728
0

3,184,416
2,368,459
172,687
8,678

3,357,407
2,350,762
194,551
5,523

3,378,245
2,175,667
200,350
2,368

4,281,904
146,083
1,837,288
241,013
0
2,057,520
4,435,748
1,815,277
2,620,471
566,667

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

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

3,676,889
90,574
1,234,219
294,772
0
2,057,324
4,091,105
2,290,752
1,800,353
701,378

566,667
1,309,721
770,733
770,733
0
538,988

706,421
1,650,709
770,733
770,733
0
879,976

367,518
1,689,210
770,733
770,733
0
918,477

701,378
1,062,441
770,733
770,733
0
291,708

10,294,211
10,294,211
0
9,241,206

10,636,130
10,636,130
0
9,535,648

8,576,807
8,576,807
0
7,710,251

6,327,553
6,327,553
0
6,174,641

1,053,005
405,921

1,100,482
492,901

866,556
410,854

152,912
432,435

(Thousand Rupees)
2009
2010
2,031,497
15,000

1,869,073
15,000

1,377,935

1,813,812

40,343
598,219
2,465,420
107,746
746,766
29,538
892,740
688,630
4,270,849
1,929,585
2,341,264
697,427
666,853

40,261
0
2,335,477
124,450
571,665
29,700
892,740
716,922
4,485,974
1,963,596
2,522,378
465,582
437,235

0
0
30,574
(471,359)
889,733
889,733
0
(1,199,235)
0
(1,199,235)
(161,857)

28,347
(747,006)
889,733
889,733
0
(1,636,739)
0
(1,636,739)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

405,921

492,901

410,854

432,435

137,155

291,557

381,964

316,417

511,322
43,930
73,403
0

317,017
117,367
115,610
0

99,354
36,177
0
0

(578,951)
27,289
0
0

1,876,388
0
393,989
1,815,277

2,357,130
0
84,040
2,984,392

2,056,728
0
63,177
2,209,552

1,763,819
0
(606,240)
2,290,752

1,557,016
1,557,016
0
2,382,144
1,826,496
555,648
(825,128)
591,065
196,268
394,797
97,335
261,018
90,288
(1,510,059)
(120,025)

1,025,341
1,025,341
0
1,173,764
838,852
334,912
(148,423)
423,228
81,704
341,524
66,744
8,920
1,019
(432,203)
5,301

0
(227,747)

0
(19,931)

226,068
666,853

(281,424)
437,235
(437,504)
2,400,831

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

2,596,438

H.Key Performance Indicators

0.09
1.33
2.34
1.63
0.97
89.77
3.82
8.96
44.19
33.74
6.37
5.60

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

381

0.30
2.74
7.01
1.38
1.00
89.65
3.67
4.52
21.42
14.98
1.73
4.22

0.37
4.45
10.99
1.24
0.94
89.90
3.08
1.36
5.95
4.50

0.09
5.00
4.66
1.08
0.90
97.58
4.51
-9.08
-42.08
-30.31

0.24
16.76
1.90
0.35
0.58
152.99
-10.54
-29.17
-510.95
-151.77

0.23
0.87
2.90
0.24
0.52
114.48
-6.63
-9.93
70.95
1,561.54

5.47

5.13

2.09
-15.72
-96.98
-0.05

1.79
-423.14
-42.15
0.00
-4.92
-8.40

4.97
0.00
6.06
16.99

2.98
0.00
2.59
21.42

1.16
0.00
0.82
21.92

-9.15
0.00
-7.87
13.78

-5.30

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

298,662

506,150

502,357

599,749

429,220
298,662
25,658
0

637,941
506,150
29,247
0

667,294
502,357
35,432
0

917,768
599,749
40,208
0

566,242
54,026
353,669
90,448
25,531
42,568
398,863
238,164
160,699
64,000

646,959
64,679
410,508
104,712
25,531
41,529
402,081
201,110
200,971
80,000

800,805
60,918
556,077
87,462
32,531
63,817
494,026
310,470
183,556
60,000

1,439,948
121,025
1,014,506
170,168
224
134,025
1,060,719
545,194
515,525
100,000

64,000
402,041
54,057
54,057
0
347,984

80,000
671,028
54,057
54,057
0
616,971

60,000
749,136
54,057
54,057
0
695,079

100,000
878,978
54,057
54,057
0
824,921

1,888,231
1,888,231
0
1,619,182

1,853,556
1,853,556
0
1,591,319

2,807,802
2,807,802
0
2,442,169

3,022,276
3,022,276
0
2,661,011

269,049
154,905

262,237
136,918

365,633
190,161

361,265
182,586

(Thousand Rupees)
2009
2010
690,355
41,140
1,017,369
630,571
71,996

796,908
37,448
1,183,411
739,094
62,777

224
18,420
1,346,232
234,679
859,857
162,668

224
20,142
2,107,704
286,206

89,028
1,011,724
494,734
516,990
43,899
0
0
0
0
43,899
980,964
54,057
54,057
0
671,907
259
488,991
255,000

203,098
0
1,618,400
1,710,480
986,866
723,614
44,131
0
0
0
0
44,131
1,150,001
56,499
56,499
0
844,000
259
568,991
249,502

5,630,385
5,630,385

6,189,135
6,189,135

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,413,928
4,869,126
544,802
775,207
397,979
296,100
101,879
214,294
78,948
73,889
303,554
106,267
33,899
0
(272,379)

96,898
21,237
16,217
0

97,334
41,447
8,109
0

138,874
52,527
13,514
0

143,154
41,765
16,217
0

5,009,813
4,397,285
612,528
620,572
360,041
237,235
122,806
198,431
82,521
53,037
182,003
63,797
27,029
0
383,592

466,041
0
59,444
238,164

751,028
0
47,778
201,110

809,136
0
72,833
310,470

978,978
0
85,172
545,194

1,024,863
0
91,178
494,734

1,194,132
0
163,388
986,866

0.43
1.13
4.79
2.18
1.42
85.75
1.15
11.94
25.83
21.67
4.67
5.34

0.48
1.71
5.65
1.61
1.61
85.85
0.72
9.65
18.14
15.99
6.89
4.52

0.37
1.47
3.11
2.15
1.62
86.98
0.74
11.31
19.56
17.80
6.39
5.05

0.27
1.62
5.63
1.48
1.36
88.05
1.32
8.56
17.59
16.01
6.25
2.98

0.29
1.28
3.28
2.13
1.23
87.47
1.53
12.29
28.49
27.36
5.82

5.13
0.00
14.00
74.37

5.25
0.00
10.34
124.13

4.95
0.00
15.97
138.58

4.74
0.00
18.76
162.60

0.39
1.47
2.89
2.76
1.33
88.98
1.08
8.93
19.57
18.17
4.37
6.55
4.43
3.23
0.36
21.87
181.47

154,905

136,918

190,161

182,586

21,357

31,692

41,297

49,099

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

382

5.11
4.90
-0.16
34.92
203.54

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,019,826

1,456,782

1,622,511

1,707,921

2,077,121
1,019,272
73,437
554

2,617,104
1,456,300
107,319
482

2,871,897
1,622,245
116,509
266

3,104,101
1,707,791
155,226
130

1,683,335
79,556
880,196
322,341
2,487
398,755
910,918
263,883
647,035
389,823

1,936,617
78,975
1,012,679
409,711
0
435,252
1,479,734
631,543
848,191
466,846

1,893,824
78,397
907,208
467,470
0
440,749
1,778,636
889,136
889,500
499,026

2,301,295
100,579
1,051,835
639,921
0
508,960
2,434,449
1,472,952
961,497
352,599

389,823
1,402,420
597,713
597,713
0
804,707

(Thousand Rupees)
2009
2010
1,903,739
226,566
3,170,187
1,667,662
126,555
50

1,890,012
75,767
3,444,393
1,801,390
144,210
21

9,461
2,062,500
146,292
725,690
680,286
0
510,232
2,383,332

12,834
2,923,361
99,710
1,372,150
856,577
0
594,924
2,996,257

2,383,332
470,563

2,996,257
486,446

466,846
1,446,819
597,717
597,717
0
849,102

499,026
1,238,673
597,713
597,713
0
640,960

352,599
1,222,168
597,713
597,713
0
624,455

0
0
470,563
1,112,344
597,713
597,713
0
514,631

3,697,705
3,697,705
0
3,114,221

4,323,108
4,323,108
0
3,801,638

4,605,685
4,605,685
0
4,137,767

5,422,320
5,422,320
0
4,912,001

583,484
264,442

521,470
253,547

467,918
267,708

510,319
381,692

486,446
1,330,670
597,713
597,713
0
732,957

514,631

732,957

5,351,341
5,351,341

6,355,293
6,355,293

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

264,442

253,547

267,708

381,692

17,082

86,967

125,378

183,130

329,667
59,644
0
0

210,083
57,513
104,600
0

105,925
30,326
119,543
0

7,340
23,404
0
0

1,792,243
0
270,023
263,883

1,913,665
0
47,970
631,543

1,737,699
0
(43,944)
889,136

1,574,767
0
(16,064)
1,472,952

0.44
0.46
8.72
1.37
1.85
84.22
0.93
14.10
25.47
21.05

0.33
2.01
9.48
1.27
1.31
87.94
1.35
6.89
14.75
11.34
1.46
4.27

0.31
2.72
10.15
1.31
1.06
89.84
1.84
3.07
7.89
5.80
0.63
5.08

0.30
3.38
11.80
1.35
0.95
90.59
2.28
0.20
0.60
0.44

4,810,589
3,467,591
1,342,998
540,752
426,498
173,277
253,221
495,170
300,830
295,995
(142,270)
(32,446)

5,389,956
3,826,115
1,563,841
965,337
345,850
206,641
139,209
595,970
259,916
256,710
409,286
190,960
119,543
0
(135,750)

0
335,097

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

1,582,907
0

1,817,116
0
98,783
0

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.20

383

0.35
5.62
12.71
1.35
0.87
89.90
2.57
-3.57
-12.19
-9.01

5.16

7.37
0.52
-2.66
0.12

8.92
0.00
4.52
23.46

4.86
0.00
2.55
24.21

2.30
0.00
1.26
20.72

0.14
0.00
-0.27
20.45

18.61

0.32
4.09
13.48
1.32
0.98
84.81
2.62
9.32
33.51
24.08
1.83
4.63
2.59
6.44
-0.04
3.65
22.26

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

230,383

1,033,099

1,120,100

1,028,798

351,671
230,383
8,532
0

1,114,955
1,033,099
15,750
0

1,238,463
1,120,100
32,082
0

1,159,504
1,028,798
5,205
0

552,535
2,170
370,542
33,224
93,350
53,249
1,008,120
163,361
844,759
0

1,189,838
262,436
695,713
4,389
93,091
134,209
1,092,938
318,934
774,004
0

1,166,258
128,467
649,269
83,457
1,400
303,665
994,851
88,638
906,213
15,226

1,113,413
22,939
468,052
56,903
91,173
474,346
839,021
98,328
740,693
8,165

0
(225,202)
65,553
65,553
0
(290,755)

(Thousand Rupees)
2009
2010
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
309,132
747,543

1,575,202

1,601,688
1,476,350
17,993
442
1,400
97,010
1,256,795
149,688
711,728
84,771
0
310,608
1,078,177

747,543
18,971

1,078,177
69,604

0
1,129,999
65,553
65,553
0
1,064,446

15,226
1,276,281
213,045
213,045
0
1,063,236

8,165
1,295,025
213,045
213,045
0
1,081,980

0
0
18,971
1,156,927
213,044
213,044
0
(129,314)

(129,314)
1,073,197

9,598
1,461,574

1,166,770
1,166,770
0
1,077,990

1,714,721
1,714,721
0
1,489,018

1,921,863
1,921,863
0
1,616,665

1,870,002
1,870,002
0
1,726,975

1,313,808
1,313,808

88,780
85,380

225,703
52,689

305,198
95,616

143,027
96,969

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
319,801

69,604
1,684,216
213,044
213,044
0
9,598

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

85,380

52,689

95,616

96,969

8,924

18,556

26,678

28,060

1,184,506
1,081,976
102,530
129,302
200,899
48,596
152,303
58,224
83,506
81,048
(140,427)
2,942

(4,042)
5,126
0
0

558,225
34,342
19,666
0

201,243
78,552
0
0

29,520
13,056
0
0

0
224,484

(225,202)
0
(9,168)
163,361

1,129,999
0
504,217
318,934

1,291,507
0
122,691
88,638

1,303,190
0
16,464
98,328

1,175,898
0
(143,369)
0

1,753,820
0
100,293
0

0.13
0.76
2.85
1.49
0.55
92.39
-4.48
-0.43
1.25
1.25

0.33
1.08
0.26
0.77
1.09
86.84
0.97
37.14
123.39
123.39
26.64
2.46

0.21
1.39
4.34
0.84
1.17
84.12
0.79
8.93
16.73
16.62

0.17
6.36
7.86
0.68
1.08
90.16
0.66
-6.91
-11.45
-11.33

0.22
2.77
4.06
0.74
1.17
85.78
0.68
4.96
8.30
8.05

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

384

0.20
1.50
3.04
0.87
1.33
92.35
0.65
1.33
2.30
2.28

2.96

4.00

3.51
-0.73
-10.69
0.29
-6.73
54.30

2.93
3.23
5.65
0.28
4.71
79.05

-0.35
0.00
-1.40
-34.35

32.55
0.00
79.92
172.38

10.47
0.00
5.76
59.91

1.58
0.00
0.77
60.79

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,024,982

979,152

952,316

922,501

1,210,824
1,024,982
96,025
0

1,263,729
978,526
99,366
626

1,330,546
951,897
96,277
419

1,393,641
922,220
95,239
281

1,633,861
41,243
1,323,055
46,393
0
223,170
1,347,188
286,537
1,060,651
521,995

1,881,818
36,567
1,346,001
342,112
0
157,138
1,672,856
729,666
943,190
329,747

1,446,303
49,009
772,798
0
23,239
601,257
1,260,472
418,409
842,063
117,831

(Thousand Rupees)
2009
2010
1,819,674
8,476
1,393,655

1,813,379

1,655,251

2,178,816
206,977
789,663
522,550
307,510
352,116
1,635,241
148,407
1,486,834
0

89,441
188
278,855
1,532,155
1,572,422
36,293
1,053,749
283,402
0
198,978
1,480,268
618,819
861,449
209,202

67,541
375
305,064
1,507,940
1,547,103
72,570
1,063,893
234,671
0
175,969
1,421,358
665,468
755,890
325,391

521,995
789,660
450,025
450,025
0
339,635

329,747
858,367
450,025
450,025
0
408,342

117,831
1,020,316
450,025
450,025
0
570,291

0
1,466,076
450,025
450,025
0
1,016,051

0
0
209,202
1,702,626
450,025
450,025
0
248,225

248,225
1,004,376

183,176
980,532

4,072,463
4,072,463
0
3,690,947

5,185,301
5,185,301
0
4,565,059

3,019,079
3,019,079
0
2,522,391

3,924,624
3,924,624
0
3,402,786

2,053,959
2,053,959

2,402,617
2,402,617

381,516
99,607

620,242
148,699

496,688
162,336

521,838
177,991

325,391
1,613,733
450,025
450,025
0
183,176

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

99,607

148,699

162,336

177,991

34,553

101,077

113,903

135,478

274,846
37,475
0
0

390,890
134,005
56,253
0

285,918
105,489
0
0

279,892
101,650
0
0

1,311,655
0
237,371
286,537

1,188,114
0
200,632
729,666

0.07
0.85
1.14
1.53
1.21
90.63
2.37
12.57
42.52
23.72

0.23
1.95
6.60
1.81
1.12
88.04
2.33
14.16
47.44
31.27
4.57
3.85

2,048,631
1,666,285
382,346
5,328
180,609
35,928
144,681
177,488
344,953
158,485
(484,565)
172,392

2,283,238
1,895,009
388,229
119,379
109,903
29,916
79,987
166,391
147,328
131,558
(123,607)
34,714

0
(1,036,613)

0
60,774

1,138,147
0
180,429
418,409

1,466,076
0
178,242
148,407

1,911,828
0
(656,957)
618,819

1,939,124
0
(158,321)
665,468

0.06
3.77
0.00
1.26
1.15
83.55
1.35
10.87
30.44
24.58

0.63
3.45
13.31
1.27
1.33
86.70
1.12
10.18
22.51
21.50

0.22
16.79
13.80
0.61
1.06
99.74
0.99
-14.92
-30.58
-28.69

0.22
6.13
9.77
0.71
1.09
95.03
1.08
-3.66
-7.45
-6.42

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.08

385

3.91

4.97

1.95
-2.06
-23.59
-0.61
-14.60
37.83

2.26
0.06
-5.14
0.03
-3.52
35.86

6.75
0.00
5.27
17.55

7.54
0.00
5.71
19.07

9.47
0.00
4.01
22.67

7.13
0.00
3.96
32.58

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

14,549

32,670

34,947

55,119

54,942

68,418

23,758
14,549
670
0

42,851
32,670
992
0

47,291
34,947
2,345
0

71,286
55,119
3,822
0

20,686
4,519

24,764
4,078

55,184
47,623
1,206
4,805
0
1,550
1,740
0
1,740
0

56,978
8,020
7,516
0
0
41,442
21,622
0
21,622
0

109,551
22,906
31,265
34,861
0
20,519
15,898
0
15,898
0

328,457
6,096
80,192
143,034
0
99,135
239,442
155,962
83,480
14,400

34,256
286,847
8,603
68,426
146,080
0
63,738
243,419
75,030
168,389
10,800

43,654
363,800
26,192
85,042
177,022
0
75,544
313,615
85,394
228,221
7,200

0
67,993
100,000
100,000
0
(32,007)

0
68,026
100,000
100,000
0
(31,974)

0
128,600
200,000
200,000
0
(71,400)

14,400
129,734
200,000
200,000
0
(70,266)

0
0
10,800
87,570
200,000
200,000
0
0
0

18,465
18,465
0
17,548

51,011
51,011
0
50,497

149,521
149,521
0
137,352

283,310
283,310
0
249,431

917
2,140

514
3,721

12,169
46,640

33,879
24,987

7,200
111,403
200,000
200,000
0
0
0

(112,430)

(88,597)

230,005
230,005

381,699
381,699

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,140

3,721

46,640

24,987

4,368

6,531

(721)
1,273
0
0

1,221
421
0
0

(38,776)
650
0
0

2,361
1,226
0
0

67,993
0
(1,994)
0

68,026
0
800
0

226,355
187,635
38,720
3,650
29,093
18,013
11,080
7,451
17,863
17,487
(42,166)

352,886
343,744
9,142
28,813
28,783
15,197
13,586
9,704
14,644
14,120
8,516
15,317

0
55,863

0
(31,022)

128,600
0
(39,426)
0

144,134
0
1,135
155,962

98,370
0
(42,166)
75,030

118,603
0
(6,801)
85,394

3.63
2.92
23.32
1.03
6.89
91.86
0.12
-33.12
-39.44
-39.44

0.62
2.31
50.49
0.74
1.37
88.04
1.96
0.89
1.83
1.73

0.64
7.77
63.51
0.67
1.18
98.41
2.90
-11.63
-38.81
-34.78

0.65
3.84
46.38
0.88
1.16
92.45
2.88
2.20
8.56
7.85

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

30.13
0.00
26.02
0.26
31.71
95.03
0.03
-1.03
-1.06
-1.06

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

386

0.37
0.00
0.00
0.57
2.64
98.99
0.32
1.53
1.80
1.80

15.31

6.79

4.78

3.53

3.36
-1.41
-18.33
0.22
-2.11
4.38

4.49
1.60
2.23
-0.10
-0.34
5.57

-3.90
0.00
-0.20
6.80

2.39
0.00
0.08
6.80

-25.93
0.00
-1.97
6.43

0.83
0.00
0.06
6.49

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

833,677

865,244

890,313

954,034

1,132,668
831,265
54,827
2,412

1,233,917
864,530
76,569
714

1,321,167
887,117
81,459
3,196

1,475,561
948,535
119,932
5,499

2,333,333
57,993
1,790,708
323,086
0
161,546
1,684,836
3,295
1,681,541
9,310

3,277,376
118,297
2,381,286
503,226
0
274,567
2,423,535
266,118
2,157,417
5,691

4,021,218
260,915
2,533,159
816,386
0
410,758
2,738,296
4,299
2,733,997
0

(Thousand Rupees)
2009
2010
977,628
11,295
1,464,266
937,240
119,932
5,499

949,759
25,192
1,502,603
893,401
97,122
2,688

4,053,012
70,206
2,398,605
1,135,332
0
448,869
3,061,501
1,355,557
1,705,944
0

23,594
4,029,418
70,206
2,398,605
1,135,332
0
425,275
3,017,057
1,355,557
1,661,500
44,444

28,478
4,793,612
63,263
2,949,130
906,272
0
874,947
3,885,809
494,204
3,391,605
81,787

9,310
1,472,864
124,006
124,006
0
1,348,858

5,691
1,713,394
124,006
124,006
0
1,589,388

0
2,173,235
124,006
124,006
0
2,049,229

0
1,945,545
124,006
124,006
0
1,821,539

0
945
43,499
1,945,545
124,006
124,006
0
1,544,049

1,544,049
277,490

1,379,973
271,796

7,395,233
7,395,233
0
6,718,066

7,200,425
7,200,425
0
6,365,845

8,159,187
8,159,187
0
6,771,550

12,630,723
12,630,723
0
11,379,480

12,151,021
12,151,021

11,127,551
11,127,551

677,167
290,988

834,580
347,021

1,387,637
477,469

1,251,243
626,499

49,787
32,000
1,775,775
124,006
124,006
0
1,379,973

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

10,738,070
10,099,967
638,103
389,481
451,131
288,911
162,220
590,364
145,706
48,150
(130,419)
17,650
21,701
0
936,198

381,580
131,839
105,405
0

511,763
194,461
130,206
0

904,610
333,000
297,214
0

115,828
68,000
21,701
0

10,871,886
9,518,258
1,353,628
1,279,135
654,391
427,669
226,722
688,345
678,526
102,055
115,828
45,905
297,613
0
(950,339)

1,482,174
0
144,336
3,295

1,719,085
0
187,096
266,118

2,173,235
0
274,396
4,299

1,945,545
0
26,127
1,355,557

1,989,989
0
(227,690)
1,355,557

1,857,562
0
(169,770)
494,204

0.23
0.72
4.37
2.34
1.38
90.84
1.15
11.59
27.02
26.81
2.37
4.13

0.26
0.67
6.99
1.74
1.35
88.41
1.42
14.00
32.12
31.97
2.44
3.02

0.39
0.77
10.01
1.66
1.47
82.99
1.26
19.98
46.55
46.48
1.92
3.22

0.40
5.58
9.34
2.43
1.34
89.47
1.57
2.31
5.95
5.89
0.23
5.07
2.13
0.95
-0.31
5.64
156.89

0.25
1.31
8.14
1.94
1.23
96.50
2.23
-2.43
-7.01
-6.78
-6.82
3.77
-1.71
-1.17
0.24
-11.94
143.20

290,988

347,021

477,469

626,499

53,480

48,416

63,168

678,526

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

387

0.39
5.37
8.99
2.52
1.32
90.09
1.57
2.34
5.62
5.62
2.20
5.27

5.16
0.00
20.14
118.77

7.11
0.00
25.59
138.17

11.09
0.00
46.10
175.25

0.92
0.00
3.86
156.89

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

694,003

2,359,155

4,340,700

4,009,909

1,649,170
678,076
146,411
15,927

3,413,309
2,325,953
142,891
33,202

5,639,039
4,274,797
142,891
65,903

5,757,451
3,945,273
464,172
64,636

11,098,780
5,873,987
3,159,153
0
758,419
1,307,221
9,698,369
9,693,653
4,716
0

6,815,120
360,169
4,169,120
0
1,143,882
1,141,949
5,802,400
1,788,206
4,014,194
666,667

3,964,417
219,859
2,704,946
0
0
1,039,612
3,906,115
583,333
3,322,782
1,958,334

2,806,835
231,880
1,612,696
0
0
962,259
3,087,066
0
3,087,066
500,000

0
2,094,414
420,000
420,000
0
1,674,414

666,667
2,705,208
420,000
420,000
0
2,285,208

1,958,334
2,440,668
714,000
714,000
0
1,726,668

500,000
3,229,678
1,428,000
1,428,000
0
1,801,678

17,038,943
17,038,943
0
16,755,908

30,236,085
30,236,085
0
29,068,571

20,106,320
20,106,320
0
20,006,386

17,430,805
17,430,805
0
16,803,311

283,035
215,640

1,167,514
365,319

99,934
426,677

627,494
353,815

(Thousand Rupees)
2009
2010
6,012,350
19,226
7,371,727
5,190,535
522,267
195,830

5,434,463
21,813
7,371,044
4,445,810
756,288
125,988

606,759
3,929,738
20,487
2,954,091

840,852
3,526,804
82,046
2,329,161

0
955,160
5,614,243
2,151,601
3,462,642
1,500,000
1,500,000

0
1,115,597
5,652,289

0
0
0
2,827,845
1,428,000
1,428,000
0
1,399,845

5,652,289
1,333,333
1,333,333

0
1,975,645
1,428,000
1,428,000
0
547,645

1,399,845

547,645

14,149,646
14,149,646

15,854,142
15,854,142

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

215,640

365,319

426,677

353,815

5,956

46,356

305,491

233,651

13,973,144
12,470,229
1,502,915
176,502
640,862
190,088
450,774
348,360
222,769
818
(622,285)
220,452

16,093,687
13,357,356
2,736,331
(239,545)
319,675
124,916
194,759
361,062
455,128
718
(987,980)
135,780
0
0
2,293,934

258,629
85,487
178,500
0

1,133,704
420,688
0
294,000

(481,649)
87,785
0
0

63,617
75,764
0
0

0
(1,461,260)

2,094,414
0
(5,358)
9,693,653

3,371,875
0
713,016
1,788,206

4,399,002
0
(569,434)
583,333

3,729,678
0
(12,147)
0

4,327,845
1,500,000
(842,737)
3,651,601

3,308,978
1,333,333
(1,123,760)
1,333,333

0.68
0.03
0.00
1.44
1.14
98.34
4.63
2.75
12.85
12.85
0.97
5.39

0.26
0.15
0.00
3.30
1.17
96.14
2.39
10.81
47.24
41.48

0.06
1.52
0.00
2.42
1.01
99.50
2.40
-5.51
-18.72
-12.40

0.08
1.34
0.00
2.56
0.91
96.40
1.11
0.84
2.24
1.57

0.00
1.57
0.00
1.42
0.70
98.75
2.52
-7.43
-20.55
-15.45

0.01
2.87
0.00
1.77
0.62
101.51
3.54
-10.45
-41.14
-25.87

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

388

7.25

7.43

10.81

4.79
-759.74
-4.40
-0.21
-5.90
19.80

6.81
-1,375.02
-6.23
0.33
-7.87
13.84

1.52
0.00
4.12
49.87

3.75
0.00
16.98
64.41

-2.40
0.00
-7.98
34.18

0.36
0.00
-0.09
22.62

Financial Statement Analysis of Non Financial Sector 2010

Indus Motor Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

998,887

1,716,590

2,093,852

4,033,762

2,934,976
988,342
290,518
10,545

4,026,659
1,710,467
399,673
6,123

4,763,379
2,090,284
381,476
3,568

7,078,037
4,033,762
473,894
0

11,195,630
6,719,999
3,168,855
384,511
0
922,265
7,667,951
27,925
7,640,026
11,957

14,105,878
7,416,180
3,959,316
738,281
0
1,992,101
9,560,718
5,735
9,554,983
3,871

13,571,198
8,543,263
2,859,951
665,647
0
1,502,337
7,621,075
3,714
7,617,361
0

(Thousand Rupees)
2009
2010
3,970,204
29,524
7,600,115
3,900,977
786,270
3,972

3,347,025
62,916
7,771,602
3,257,960
861,510
3,457

9,714,347
4,328,585
2,637,629
1,332,832
0
1,415,301
4,311,769
0
4,311,769
0

35,731
16,715,319
9,731,166
4,088,858
1,736,631
0
1,158,664
9,884,850
5,926,529
3,958,321
503,700

22,692
23,791,253
15,755,980
5,198,367
1,613,247
0
1,223,659
14,224,866
8,076,281
6,148,585
325,797

11,957
4,514,609
786,000
786,000
0
3,728,609

3,871
6,257,879
786,000
786,000
0
5,471,879

0
8,043,975
786,000
786,000
0
7,257,975

0
9,436,340
786,000
786,000
0
8,650,340

0
0
503,700
10,296,973
786,000
786,000
0
9,504,861
196,500
7,923,250
6,112

325,797
12,587,615
786,000
786,000
0
11,769,264
196,500
8,522,350
32,351

32,717,654
32,717,654
0
30,011,476

41,787,625
41,787,625
0
37,639,996

46,384,517
46,384,517
0
41,943,923

49,425,261
49,425,261
0
45,576,774

37,864,604
37,864,604

60,093,139
60,093,139

2,706,178
758,571

4,147,629
969,119

4,440,594
1,123,718

3,848,487
1,090,850

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

55,382,306
47,375,634
8,006,672
4,710,833
1,266,177
468,496
797,681
592,951
3,576
77,686
5,242,539
1,799,136
1,179,000
0
7,424,279

2,302,957
812,069
707,400
0

4,072,777
1,352,842
943,200
0

4,229,481
1,389,795
1,021,800
0

3,541,711
939,743
825,300
0

35,540,418
29,769,541
5,770,877
2,324,186
978,713
469,985
508,728
729,071
26,540
8,835
2,046,013
660,911
786,000
0
6,536,529

4,526,566
0
783,488
27,925

6,261,750
0
1,776,735
5,735

8,043,975
0
1,817,886
3,714

9,436,340
0
1,776,668
0

10,800,673
0
599,102
5,926,529

12,913,412
0
2,264,403
8,076,281

0.93
0.29
1.18
2.68
1.46
91.73
1.70
19.39
58.01
57.87
2.11
10.32

0.85
0.30
1.77
2.64
1.48
90.07
1.53
29.07
75.61
75.50
2.88
10.55

1.21
0.05
1.44
2.96
1.78
90.43
0.95
26.86
59.15
59.13
2.78
16.22

1.16
0.07
4.59
1.83
1.69
93.86
1.01
11.88
20.74
20.22
1.76
9.26
232.58
5.40
0.63
17.62
131.00

1.22
0.01
2.68
2.21
1.67
92.16
1.16
21.92
45.82
44.21
2.92
11.56
68.48
8.72
0.51
43.81
160.15

758,571

969,119

1,123,718

1,090,850

94,093

126,945

22,685

2,760

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

389

1.31
0.01
2.70
3.60
2.25
92.21
0.46
24.08
40.52
40.52
3.15
18.74

7.04
0.00
18.97
57.44

9.75
0.00
34.60
79.62

9.12
0.00
36.13
102.34

7.17
0.00
33.10
120.06

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

238,783

287,473

631,678

495,202

654,746
238,783
35,072
0

716,925
279,210
29,963
8,263

1,067,624
615,151
29,694
16,527

946,953
478,174
34,123
17,028

6,084,019
297,843
2,314,457
133,435
2,583,103
755,181
4,298,281
0
4,298,281
0

7,166,069
263,139
2,283,929
0
3,837,899
781,102
4,982,723
0
4,982,723
0

5,632,646
122,142
1,840,082
275,953
2,780,664
613,805
3,567,744
20,406
3,547,338
0

6,772,594
249,358
1,636,153
102,660
3,420,398
1,364,025
4,228,917
0
4,228,917
0

0
2,024,521
120,141
120,141
0
1,904,380

(Thousand Rupees)
2009
2010
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

1,435,960
157,748
987,911
446,997
55,622
29,357
525,467
276,391
10,737,359
1,143,880
2,520,520
483,605
4,116,821
2,472,533
7,587,912

3,379,931
51,950

7,587,912
18,813

0
2,470,819
156,183
156,183
0
2,314,636

0
2,696,580
187,420
187,420
0
2,509,160

0
3,038,879
187,420
187,420
0
2,851,459

0
0
51,950
3,558,946
234,275
234,275
0
3,324,671

8,427,615
8,282,361
145,254
7,504,745

9,876,649
9,787,554
89,095
8,709,300

11,142,461
11,092,662
49,799
10,002,290

11,432,423
11,278,959
153,464
9,928,548

922,870
291,405

1,167,349
354,760

1,140,171
619,387

1,503,875
670,881

18,813
4,566,594
292,844
292,844
0
4,273,750

3,324,671

4,273,750

22,461,249
22,399,775
61,474
18,528,176
17,454,114
1,074,062
3,933,073
973,720
411,275
562,445
438,887
10,007
8,575
3,634,001
1,052,123
1,903,486
73,211
4,265,110

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

717,929
240,039
40,047
40,047

1,074,597
342,000
180,211
36,042

863,431
200,000
156,183
31,238

1,142,928
291,993
609,115
46,855

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
(51,938)

2,024,521
0
437,843
0

2,470,819
0
552,386
0

2,696,580
0
507,248
20,406

3,038,879
0
241,820
0

3,610,896
0
274,704
0

4,585,407
0
678,392
0

0.70
0.04
1.58
1.33
1.42
89.05
2.12
14.54
40.41
40.41
11.93
3.64

0.82
0.03
0.00
1.33
1.44
88.18
2.02
15.60
47.81
47.81
4.07
4.32

0.89
0.17
2.48
1.78
1.58
89.77
1.32
12.59
33.42
33.42
4.25
6.06

0.89
0.23
0.90
1.57
1.60
86.85
1.39
16.89
39.85
39.85
1.40
6.99

0.69
0.28
0.92
2.30
1.70
84.45
0.96
26.18
56.57
56.13
1.26
7.63
43.99
11.60
-0.02
56.73
151.91

0.76
0.04
2.15
1.85
1.42
82.49
1.67
37.92
89.45
88.67
1.36
8.91
424.79
16.18
0.56
88.17
155.94

291,405

354,760

619,387

670,881

3,192

3,054

18,575

26,807

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

390

8.52
0.00
39.78
168.51

10.88
0.00
46.91
158.20

7.75
0.00
35.40
143.88

10.00
0.00
45.40
162.14

Financial Statement Analysis of Non Financial Sector 2010

Pak Suzuki Motor Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

3,450,957

3,765,970

4,744,930

4,962,244

6,695,294
3,327,486
569,122
123,471

7,695,336
3,532,985
903,939
232,985

9,717,231
4,358,151
1,084,378
386,779

10,881,196
4,578,436
965,864
383,808

15,296,884
9,647,023
4,968,054
0
266,932
414,875
10,863,408
0
10,863,408
0

18,284,415
8,043,617
9,232,672
126,292
280,552
601,282
11,131,352
0
11,131,352
0

16,456,407
5,484,052
9,184,385
185,739
143,301
1,458,930
7,224,302
0
7,224,302
0

(Thousand Rupees)
2009
2010

11,993,899
2,499,142
7,732,518
286,697
4,449
1,471,093
2,803,462
0
2,803,462
0

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
1,625,775
3,325,134
80,000
3,245,134
5,000

4,937,232
272,143
11,944,291
3,954,439
71,692
505,760
5,413
199,477
14,313,132
2,917,186
8,748,031
240,719
0
2,407,196
4,752,449
50,000
4,702,449
0

0
7,884,433
540,444
540,444
0
7,343,989

0
10,919,033
540,444
540,444
0
10,378,589

0
13,977,035
823,000
823,000
0
13,154,035

0
14,152,681
823,000
823,000
0
13,329,681

0
0
5,000
14,325,600
822,999
822,999
0
13,502,601
0
13,502,601

0
14,497,915
822,999
822,999
0
13,674,916
0
13,674,916

41,381,319
41,381,319
0
37,808,363

47,187,945
47,187,945
0
41,627,212

60,747,829
60,650,296
97,533
55,987,597

48,240,683
48,240,683
0
47,650,077

3,572,956
671,213

5,560,733
1,249,700

4,760,232
1,256,194

590,606
887,873

42,642,762
42,642,762
0
41,656,897
37,446,268
4,192,707
985,865
889,501
197,361
692,140
487,906
21,349
4,292
650,093
456,872
41,150
0
(165,729)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,519,541
950,000
270,222
49,132

5,139,012
1,871,000
0
270,222

4,281,263
1,465,000
411,500
0

992,176
330,000
82,300
0

26,234,061
26,234,061
0
25,679,728
22,161,224
3,503,538
554,333
748,464
214,550
533,914
434,080
12,564
3,315
412,877
172,624
41,150
0
1,969,420

7,884,433
0
2,299,319
0

10,919,033
0
3,268,012
0

13,977,035
0
2,404,763
0

14,152,681
0
579,876
0

14,330,600
0
199,103
80,000

14,497,915
0
152,071
50,000

0.76
0.47
0.27
2.14
1.64
88.22
1.02
25.19
54.66
54.66

0.80
0.24
0.31
2.87
2.28
92.16
0.52
19.80
34.39
34.39
6.84
6.61

1.00
0.11
0.59
2.85
4.28
98.78
0.20
5.20
7.05
7.05
8.05
6.24

1.18
0.05
1.44
1.49
3.74
97.89
0.23
2.39
2.90
2.90
5.84
3.81
125.55
1.57
0.59
2.92
174.07

0.66
0.05
0.56
2.22
3.01
97.69
0.33
3.52
4.51
4.51
4.70
4.87
152.47
1.52
-0.03
2.35
176.16

671,213

1,249,700

1,256,194

887,873

116,545

220,510

143,786

53,470

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.91
0.28
0.00
2.21
1.41
91.37
1.38
21.86
52.69
52.69
9.51
8.33

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

391

5.11

8.51
0.00
47.55
145.89

10.89
0.00
60.47
202.04

7.05
0.00
34.22
169.83

2.06
0.00
8.05
171.96

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

89,376

106,156

127,681

211,667

134,206
89,376
8,267
0

163,107
103,363
8,906
2,793

176,096
125,334
9,917
2,347

288,949
209,943
12,404
1,724

106,090
621
59,845
22,338
0
23,286
94,694
29,567
65,127
13,717

149,206
773
79,307
41,489
0
27,637
122,907
29,863
93,044
9,805

242,269
18,383
125,159
43,643
0
55,084
186,218
12,881
173,337
13,788

469,177
11,951
193,318
202,015
0
61,893
366,726
75,617
291,109
16,698

13,717
87,055
71,630
71,630
0
15,425

(Thousand Rupees)
2009
2010
224,755
4,555
312,039
218,279
15,669
1,105

234,100
8,243
331,549
222,297
16,321
945

816
381,991
19,832
194,767
96,342
0
71,050
247,501

2,615
521,752
8,880
308,230
89,003
0
115,639
344,115

247,501
47,595

344,115
52,083

9,805
122,650
71,630
71,630
0
51,020

13,788
169,944
78,793
78,793
0
91,151

16,698
297,420
86,672
86,672
0
210,748

0
0
47,595
311,650
104,007
104,007
0
207,643

332,418
332,418
0
286,733

439,346
439,346
0
361,083

724,168
724,168
0
602,087

1,943,723
1,943,723
0
1,640,775

45,685
14,227

78,263
21,633

122,081
34,504

302,948
82,830

52,083
359,654
124,808
124,808
0
234,846

207,643

234,846

952,540
952,540

1,823,974
1,823,974

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

14,227

21,633

34,504

82,830

3,059

5,130

5,395

11,557

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
95,423
40,380
55,043
131,311
11,899
10,054
79,786
31,791
12,481
24,962
(28,336)

29,677
7,225
0
0

51,521
14,936
0
0

82,286
23,209
7,879
7,879

208,831
67,590
0
17,334

20,801
90,452

100,772
0
22,452
29,567

132,455
0
36,585
29,863

183,732
0
51,198
12,881

314,118
0
141,241
75,617

359,245
0
14,230
0

411,737
0
35,514
0

0.24
0.92
6.72
1.70
1.12
86.26
1.25
17.88
40.32
36.04

0.34
1.17
9.44
1.72
1.21
82.19
1.08
22.86
49.14
44.18

0.33
0.74
6.03
1.96
1.30
83.14
1.18
26.32
56.25
52.05
7.50
5.79

0.58
0.59
10.39
2.85
1.28
84.41
1.29
39.75
89.37
83.89

0.47
1.61
10.11
1.57
1.54
89.10
0.95
4.03
8.52
7.71

0.28
0.65
4.88
2.41
1.52
89.81
1.10
11.71
23.77
20.70
3.85
5.92
8.94
4.37
-0.07
3.85
28.82

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

392

5.55

5.54

10.05

4.89
3.10
2.72
0.31
1.37
29.96

8.93
0.00
3.13
12.15

11.73
0.00
5.11
17.12

11.36
0.00
7.50
21.57

10.74
0.00
16.30
34.32

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

50,572

50,646

55,062

49,196

83,660

110,610
50,379
5,156
193

115,667
50,472
5,399
174

122,843
54,943
5,915
119

122,141
49,131
5,724
65

146,816
63,550
5,310
143

178,178
155,647
7,598
111

54,218
319
5,814
15,466
13,635
18,984
87,604
28,623
58,981
48,198

53,445
199
6,587
13,480
15,800
17,379
84,733
18,875
65,858
55,772

42,393
668
6,814
15,329
0
19,582
106,498
23,634
82,864
57,901

54,558
156
8,822
13,695
0
31,885
118,913
25,307
93,606
59,875

48,198
(31,012)
45,000
45,000
0
(76,012)

169,855

19,967
82,676
701
23,590
29,379
0
29,006
100,521

14,097
79,202
570
37,398
14,628
0
26,606
104,830

100,521
77,912

104,830
80,676

55,772
(36,414)
45,000
45,000
0
(81,414)

57,901
(66,944)
45,000
45,000
0
(111,944)

59,875
(75,034)
45,000
45,000
0
(120,034)

0
0
77,912
(12,097)
117,000
117,000
0
(129,097)

98,070
98,070
0
82,899

115,643
115,643
0
103,436

106,550
106,550
0
105,642

97,485
97,485
0
98,414

15,171
9,390

12,207
12,145

908
25,362

(929)
15,711

80,676
63,551
117,000
117,000
0
(102,034)

(129,097)

(102,034)
48,585

137,421
137,421

110,349
110,349

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

9,390

12,145

25,362

15,711

6,570

7,550

8,917

14,788

115,303
45,874
69,429
22,118
17,235
4,365
12,870
28,203
8,691
6,854
5,875
1,994

96,861
39,010
57,851
13,488
14,707
2,442
12,265
31,535
10,447
7,714
4,227
15,086
2,340
0
9,090

4,606
444
0
0

(3,781)
543
0
0

(29,913)
616
0
0

(28,084)
585
0
0

0
(24,526)

17,186
0
4,162
28,623

19,358
0
(4,324)
18,875

(9,043)
0
(30,529)
23,634

(15,159)
0
(28,669)
25,307

65,815
0
3,881
0

144,227
0
(13,199)
0

0.34
6.70
15.77
0.94
0.62
84.53
-4.38
4.67
-13.89
36.23

0.35
6.53
11.66
1.11
0.63
89.44
-3.86
-3.62
11.22
-20.69

0.15
8.37
14.39
1.09
0.40
99.15
-2.46
-29.68
57.88
-579.99

0.12
15.17
14.05
0.94
0.46
100.95
-2.38
-27.92
39.56
232.08

0.30
6.32
21.38
0.83
0.82
83.90
-14.75
4.35
-13.49
23.20

0.14
9.47
13.26
0.44
0.76
87.78
2.92
2.04
16.43
4.02
-4.64
2.95
1.55
3.83
0.05
-0.93
5.43

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

393

16.87

17.56

15.64

11.05

5.83
1.86
4.28
-0.14
0.33
-1.03

4.70
0.00
0.92
-6.89

-3.27
0.00
-0.96
-8.09

-28.07
0.00
-6.78
-14.88

-28.81
0.00
-6.37
-16.67

FUEL & ENERGY

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

229,579,264

235,217,495

289,962,821

334,178,737

399,278,046
228,164,374
19,238,395
1,414,890

423,426,276
232,480,628
20,364,090
2,736,867

440,117,238
261,009,820
18,638,554
28,953,001

499,510,987
293,884,018
19,507,057
40,294,719

165,072,662
63,492,079
5,015,600
56,744,527
2,726,440
37,094,016
131,549,327
13,609,834
117,939,493
38,895,223

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

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

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

416,330

3,007,686

980,000

38,478,893
224,207,376
127,105,780
127,105,780
0
97,101,596

28,584,135
214,239,161
127,105,780
127,105,780
0
87,133,381

44,034,550
218,034,865
135,460,347
130,951,046
4,509,301
82,574,518

58,023,007
218,560,518
137,128,510
131,145,103
5,983,407
81,432,008

360,208,984
360,208,984
0
278,750,052

441,326,612
441,326,612
0
346,346,886

511,305,500
511,305,500
0
411,606,943

580,054,194
580,054,194
0
447,036,264

81,458,932
26,659,755

94,979,726
32,136,186

99,698,557
40,126,193

133,017,930
53,069,684

(Thousand Rupees)
2009
2010
427,133,881
68,269,200
522,409,737
283,705,660
21,455,386
55,693,547
4,174,812
15,290,662
355,153,898
13,817,661
6,889,728
228,130,154
120,176
106,196,180
295,419,452
39,971,658
255,447,795
251,304,374
64,135,211
55,295,795
782,500
9,538,029
121,552,839
235,563,953
139,981,198
133,997,791
5,983,407
94,617,489
19,241,333
75,725,708
965,266

529,582,023
69,389,747
629,709,183
373,764,770
24,025,375
66,359,188
4,437,396
15,630,922
470,224,751
19,266,441
6,735,431
339,631,668
197,272
104,393,939
405,645,386
61,562,083
344,083,304
285,114,790
72,616,789
48,517,863
567,500
11,002,564
152,410,074
309,046,598
163,874,959
157,891,552
5,983,407
112,885,645
13,088,601
100,146,596
32,285,994
747,469,679
747,469,679
0
612,941,439
378,655,859
234,203,386
134,528,240
35,959,440
2,865,072
33,094,368
35,947,825
30,013,422
17,075,778
101,909,729
27,410,427
36,638,397
1,677,936
90,259,962

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

57,838,905
15,417,242
35,817,509
0

77,914,261
21,882,863
50,815,474
499,187

65,979,660
19,730,968
49,643,119
6,469

84,674,562
27,162,734
51,410,636
6,000

685,430,675
685,430,675
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

263,102,599
416,330
6,604,154
14,026,164

242,823,296
0
5,215,924
14,407,747

265,077,101
3,007,686
(3,394,427)
32,915,193

277,563,525
980,000
6,101,192
56,455,924

486,868,327
64,917,711
18,995,510
104,889,369

594,161,388
73,184,289
37,860,905
134,746,372

0.93
1.70
15.75
0.91
1.25
77.39
0.76
15.93
29.66
23.87
1.18
71.82

0.75
1.61
15.17
1.04
1.04
78.48
0.98
19.02
35.54
30.80
1.10
101.36

0.56
1.66
18.57
1.02
0.89
80.50
1.30
14.26
30.53
25.98
0.93
47.71

0.56
2.27
26.27
0.96
0.83
77.07
1.76
15.32
38.79
31.21
1.12
100.69

0.82
3.64
33.28
0.88
1.20
82.63
2.32
12.29
37.51
22.28
1.41
99.49
5.69
12.43
0.20
4.85
17.58

0.89
4.02
45.44
0.75
1.16
82.00
2.24
11.44
37.42
18.85
2.03
110.98
6.97
13.63
0.13
4.72
19.57

26,659,755

32,136,186

40,126,193

53,069,684

6,118,555

7,085,791

8,511,315

13,144,965

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

396

16.06
0.00
2.16
11.43

17.65
0.00
2.86
10.92

12.90
0.00
3.53
16.65

14.60
0.00
4.39
16.67

Growth with Composition of Assets & Liabilites

600
500

Billion Rs

40%
35%
31.2% 30%
25%
20%
15%
13.5%
10%
5%
0%
Non-Current
Shareholders
Laibilities
Equity
Growth

37.3%
32.4%

400

24.0%

300
200

100
0
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Growth & Composition of Operations

2009

2010

Growth
25%

800
700

Billion Rs

20%

19.7%

600

500

15%

13.0%

400
300

9.1%

10%

200

5%

100
0

0%
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
14

35

2010

20
15
10
5
0

18.9

2010

Return on
Capital
Emloyed

4.85 4.72

6
4
2

Return on
Return on
Assets
Equity

2009

10

22.3
12.3 11.4

12.43

12

Percentage

Percentage

30

25

13.63

2009

37.5 37.4

40

Net Profit Before Tax

2.32 2.24
1.2 1.16

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

Altern Energy Limited

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

385,533

400,789

23,219,193

25,078,379

574,136
385,233
39,366
300

624,699
400,789
35,517
0

24,142,705
23,219,193
699,633
0

27,127,736
25,078,379
1,166,085
0

68,755
9,200
0
0
0
59,555
278,558
108,480
170,078
57,291

220,840
56,315
0
0
0
164,525
619,617
101,218
518,399
0

5,006,531
1,740,881
277,175
2,436,594
0
551,881
5,502,253
2,296,568
3,205,685
15,528,049

5,591,281
1,072,324
354,962
0
0
4,163,995
7,311,996
2,965,607
4,346,389
15,670,495

57,291
118,439
221,000
221,000
0
(102,561)

0
2,012
221,000
221,000
0
(218,988)

15,528,049
7,195,422
3,425,500
3,425,500
0
3,769,922

15,670,495
7,687,169
3,425,500
3,425,500
0
4,261,669

24,847
24,847
0
77,139

0
0
0
38,056

0
0
0
37,174

11,402,876
11,402,876
0
8,515,708

(52,292)
37,522

(38,056)
35,995

(37,174)
13,166

2,887,168
107,406

(Thousand Rupees)
2009
2010
26,978,647
22,775
38,235,448
26,955,013
1,338,158
0
0
859
6,560,502
1,819,418
322,818
3,958,616
0
459,650
5,355,599
2,845,914
2,509,685
19,034,633
14,256,014
3,508,238
0
13,228
1,257,153
9,148,917
3,425,500
3,425,500
0
5,723,417
3,040,959
2,682,458
0

26,513,107
0
38,713,878
26,510,724
1,364,059
0
0
2,383
7,251,001
322,101
318,057
5,983,422
0
627,421
4,166,756
1,849,721
2,317,035
18,216,586
13,259,416
3,414,974
0
300
1,541,896
11,380,766
3,425,500
3,425,500
0
7,955,266
4,031,698
3,923,568
0
16,017,092
16,017,092
0
11,443,973
8,520,966
2,923,007
4,573,119
126,091
0
126,091
71,500
2,405,504
2,256,544
2,066,497
1,640
0
0
1,321,442

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(101,482)
0
0
0

(113,234)
1,624
0
0

(73,159)
525
0
0

1,131,148
455
0
0

15,541,603
15,541,603
0
10,597,057
7,659,761
2,937,296
4,944,546
257,067
0
257,067
61,024
2,579,350
2,369,811
2,136,128
1,115
0
0
4,253,020

175,730
0
(101,482)
108,480

2,012
0
(114,858)
101,218

22,723,471
0
(73,684)
2,296,568

23,357,664
0
1,130,693
2,965,607

28,183,550
14,256,014
2,135,013
17,101,928

29,597,352
13,259,416
2,064,857
15,109,137

0.03
47.96
0.00
0.05
0.25
310.46
2.84
-21.71
-59.94
-42.08

0.09

0.76

0.00
0.36

0.00
0.91

0.15
15.25
0.00
0.37
0.76
74.68
2.99
3.84
15.20
4.91

1.08
16.60
25.47
0.46
1.22
68.19
2.67
6.65
25.38
8.29

1.51
15.02
37.36
0.47
1.74
71.45
1.97
6.14
20.13
7.15

37,522

35,995

13,166

107,406

11,917

43,822

24,320

1,739,234

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-408.43
0.00
-4.59
5.36

398

307.96
-21.05
-188.02
-127.41

2.92
-0.51
-2.03
-0.64

0.00
-5.20
0.09

0.00

32.12

48.14
1.90
13.74
0.17
6.23
26.71

50.36
1.92
12.90
0.06
6.03
33.22

0.00
-0.22
21.01

9.92
0.00
3.30
22.44

Financial Statement Analysis of Non Financial Sector 2010

Generteck 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

2005

2006

2007

2008

555,791

486,420

486,420

387,503

609,924
555,791
53,333
0

1,105,803
486,420
45,517
0

1,105,803
486,420
45,517
0

251,492
762
24,628
167,432
0
58,670
458,638
360,744
97,894
165,193

(Thousand Rupees)
2009
2010

1,061,214
387,503
37,955
0

387,503
0
1,061,214
387,503
37,955
0

387,503
0
1,061,214
387,503
37,955
0

210,581
2,437
9,083
149,860
0
49,201
550,883
403,831
147,052
111,725

210,583
2,437
9,083
149,860
0
49,203
550,883
403,831
147,052
111,727

183,995
1,200
0
144,606
0
38,189
648,298
410,634
237,664
74,752

183,995
1,200
0
144,606
0
38,189
648,298
410,634
237,664
74,752

183,995
1,200
0
144,606
0
38,189
648,298
410,634
237,664
74,752

165,193
183,452
198,000
198,000
0
(14,548)

111,725
34,393
198,000
198,000
0
(163,607)

111,727
34,393
198,000
198,000
0
(163,607)

74,752
(151,552)
198,000
198,000
0
(349,552)

74,752
(151,552)
198,000
198,000
0
(349,552)

74,752
(151,552)
198,000
198,000
0
(349,552)

597,102
597,102
0
626,190

104,003
104,003
0
175,145

104,003
104,003
0
175,145

36,718
36,718
0
82,195

36,718
36,718
0
82,195

36,718
36,718
0
82,195

(29,088)
15,782

(71,142)
7,035

(71,142)
7,035

(45,477)
9,535

(45,477)
9,535

(45,477)
9,535

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

15,782

7,035

7,035

9,535

9,535

9,535

40,680

48,782

48,782

43,467

43,467

43,467

(82,904)
0
0
0

(137,034)
0
0
0

(137,034)
0
0
0

(87,657)
0
0
0

(98,479)
0
0
0

(98,479)
0
0
0

348,645
0
(82,904)
360,744

146,118
0
(137,034)
403,831

146,120
0
(137,034)
403,831

(76,800)
0
(87,657)
410,634

(76,800)
0
(98,479)
410,634

(76,800)
0
(98,479)
410,634

0.37
6.81
28.04
0.74
0.55
104.87
3.40
-9.94
-36.86
-19.01

0.28
46.90
144.09
0.15
0.38
168.40
19.27
-18.22
-125.81
-55.39

0.28
46.90
144.09
0.15
0.38
168.40
19.27
-19.66
-398.44
-93.78

0.22
118.38
393.83
0.06
0.28
223.85
-4.77
-13.82
149.64
-252.91

0.22
118.38
393.83
0.06
0.28
223.85
-4.77
-17.23
64.98
128.23

0.22
118.38
393.83
0.06
0.28
223.85
-4.77
-17.23
64.98
128.23

-268.20
0.00
-4.97
-7.65

-268.20
0.00
-4.97
-7.65

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

399

24.24

11.45

11.45

-13.88
0.00
-4.19
9.27

-131.76
0.00
-6.92
1.74

-131.76
0.00
-6.92
1.74

-238.73
0.00
-4.43
-7.65

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

140,413

138,324

134,616

130,525

358,765
140,413
15,521
0

360,127
138,324
4,392
0

360,667
134,616
4,249
0

360,435
130,525
4,133
0

163,863
2,939
5,292
131,223
0
24,409
59,245
27,500
31,745
0

92,210
2,221
5,515
60,643
0
23,831
8,899
0
8,899
0

81,198
1,475
5,606
50,077
0
24,040
2,993
0
2,993
0

73,406
3,315
6,408
37,156
0
26,527
7,097
0
7,097
0

0
245,031
80,000
80,000
0
165,031

0
221,635
80,000
80,000
0
141,635

0
212,821
80,000
80,000
0
132,821

0
196,834
80,000
80,000
0
116,834

208,308
208,308
0
211,061

9,735
9,735
0
23,977

7,209
7,209
0
13,290

32,453
32,453
0
45,465

(2,753)
4,810

(14,242)
2,852

(6,081)
2,653

(13,012)
2,969

(Thousand Rupees)
2009
2010
126,504
0
360,435
126,494
4,031
0
0
11
57,993
205
0
34,214
0
23,574
3,972
0
3,972
1,909
0
0
0
1,909
0
178,616
80,000
80,000
0
98,616
80,000
18,616
0

131,289
0
369,120
131,278
3,944
0
0
11
45,025
268
0
12,087
0
32,670
6,403
0
6,403
1,928
0
0
0
1,928
0
167,983
80,000
80,000
0
87,983
80,000
7,983
0
42,195
42,195
0
48,703
40,886
7,817
(6,508)
3,617
0
3,617
2,343
511
0
(10,633)
0
1,600
0
8,788

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(7,729)
85
0
0

(19,886)
3
0
0

(8,814)
0
0
0

(15,987)
0
0
0

21,776
21,776
0
36,925
30,290
6,635
(15,149)
3,052
0
3,052
2,321
17
0
(18,218)
0
0
0
3,110

245,031
0
(7,814)
27,500

221,635
0
(19,889)
0

212,821
0
(8,814)
0

196,834
0
(15,987)
0

180,525
0
(18,218)
0

169,910
0
(12,233)
0

2.26
0.08
62.99
0.68
2.77
101.32
0.24
-2.47
-3.10
-3.10

7.06
29.44
622.94
0.04
10.36
246.30
0.04
-7.44
-8.52
-8.52

17.22
1.11
694.65
0.03
27.13
184.35
0.01
-3.95
-4.06
-4.06

5.70
0.06
114.49
0.16
10.34
140.09
0.04
-7.62
-7.81
-7.81

8.66
0.08
157.12
0.12
14.60
169.57
0.03
-9.38
-9.70
-9.66

1.93
1.21
28.65
0.24
7.03
115.42
0.05
-5.89
-6.14
-6.07
-6.65

4,810

2,852

2,653

2,969

166

2,866

80

18

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

400

39.36

1.77

1.29

5.06

-3.71
0.00
-0.98
30.63

-204.27
0.00
-2.49
27.70

-122.26
0.00
-1.10
26.60

-49.26
0.00
-2.00
24.60

-83.66
0.53
-2.28
22.33

-25.20
1.05
-1.33
21.00

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

5,703,224

6,007,210

5,749,899

5,515,728

6,929,166
5,703,224
237,831
0

6,912,555
6,007,210
236,775
0

7,448,275
5,749,899
253,390
0

7,465,490
5,515,728
232,900
0

530,572
4,859
70,034
92,451
0
363,228
900,682
383,419
517,263
4,996,034

1,130,451
4,004
208,935
540,946
0
376,566
1,187,568
212,786
974,782
5,194,486

1,247,471
7,698
93,239
764,455
0
382,079
1,336,089
239,952
1,096,137
5,122,309

1,600,415
20,898
131,696
865,226
0
582,595
1,627,703
329,702
1,298,001
5,027,950

4,996,034
337,080
1,332,000
1,332,000
0
(994,920)

5,194,486
755,607
1,332,000
1,332,000
0
(576,393)

5,122,309
538,972
1,476,188
1,476,188
0
(937,216)

5,027,950
460,490
1,476,188
1,476,188
0
(1,015,698)

2,194,817
2,194,817
0
1,818,782

3,516,964
3,516,964
0
3,155,485

4,018,190
4,018,190
0
3,739,777

4,499,145
4,499,145
0
4,214,069

376,035
62,151

361,479
218,058

278,413
29,096

285,076
41,783

(Thousand Rupees)
2009
2010
5,316,919
30,895
7,484,969
5,285,924
236,290
0
0
100
1,112,711
24,846
105,484
680,994
0
301,387
1,905,488
693,192
1,212,296
4,656,161
4,650,516
0
0
0
5,645
(132,019)
1,560,376
1,560,376
0
(2,173,108)
935
(2,174,043)
480,713

5,063,299
34,312
7,485,426
5,028,887
236,775
0
0
100
2,534,865
220,703
179,811
1,637,546
0
496,805
3,900,197
1,064,225
2,835,972
4,280,816
4,273,083
0
0
0
7,733
(582,849)
1,560,376
1,560,376
0
(2,603,202)
2,457
(2,605,659)
459,977
2,731,939
2,731,939
0
2,443,209
2,057,603
385,606
288,730
68,045
0
68,045
32,222
691,426
516,238
(450,729)
1,623
0
0
206,149

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(89,866)
221
0
0

(268,251)
326
0
0

(216,444)
191
0
0

(162,113)
557
0
0

3,505,758
3,505,758
0
3,281,624
2,808,947
472,677
224,134
71,447
0
71,447
27,168
760,237
558,458
(593,000)
444
0
0
52,190

5,333,114
0
(90,087)
383,419

5,950,093
0
(268,577)
212,786

5,661,281
0
(216,635)
239,952

5,488,440
0
(162,670)
329,702

4,524,142
4,650,516
(593,444)
5,343,708

3,697,967
4,273,083
(452,352)
5,337,308

0.11
18.74
4.21
0.35
0.59
82.87
17.49
-1.43
-23.54
-1.62

0.46
12.05
15.38
0.49
0.95
89.72
8.45
-4.01
-49.10
-4.75

0.58
11.93
19.02
0.57
0.93
93.07
11.98
-3.06
-33.44
-3.73

0.54
11.65
19.23
0.63
0.98
93.66
14.45
-2.30
-32.44
-2.91

0.37
21.69
19.43
0.55
0.58
93.61
-49.70
-8.76
-361.07
-11.85

0.48
25.31
59.94
0.36
0.65
89.43
-14.04
-6.43
126.10
-10.96

62,151

218,058

29,096

41,783

411,237

423,927

479,327

523,976

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

31.34

16.83

43.10

34.16

33.23
-0.06
-16.92
0.01
-3.80
-0.85

15.19
0.13
-16.50
0.03
-2.90
-3.74

-4.09
0.00
-0.68
2.53

-7.63
0.00
-2.02
5.67

-5.39
0.00
-1.47
3.65

-3.60
0.00
-1.10
3.12

Financial Statement Analysis of Non Financial Sector 2010

Karachi Electric Supply Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

41,864,330

42,072,040

50,769,714

63,937,175

81,967,018
41,864,330
3,345,006
0

85,463,604
42,072,040
3,412,759
0

86,197,282
50,769,714
3,329,498
0

113,657,583
63,905,168
3,507,780
32,007

18,174,544
2,445,832
0
8,446,002
0
7,282,710
21,930,896
0
21,930,896
0

23,459,304
1,834,657
0
7,682,994
890,476
13,051,177
36,251,055
3,600,000
32,651,055
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

29,138,502
2,334,148
0
12,415,794
100,259
14,288,301
78,161,622
6,254,750
71,906,872
7,994,591

0
38,107,978
46,084,762
46,084,762
0
(7,976,784)

0
29,280,289
46,084,762
46,084,762
0
(16,804,473)

1,136,813
21,682,323
50,594,063
46,084,762
4,509,301
(28,911,740)

7,994,591
6,919,464
52,068,169
46,084,762
5,983,407
(45,148,705)

38,603,182
38,603,182
0
46,977,957

41,617,723
41,617,723
0
52,034,719

44,859,474
44,859,474
0
51,960,650

49,808,514
49,808,514
0
51,462,361

(8,374,775)
4,718,854

(10,416,996)
6,231,376

(7,101,176)
5,430,785

(1,653,847)
15,021,549

(Thousand Rupees)
2009
2010
83,017,723
23,222,543
111,617,048
58,971,309
2,985,691
20,566
0
803,305
48,918,076
1,127,644
0
19,114,219
0
28,676,213
60,261,038
12,919,678
47,341,360
71,757,040
476,063
44,841,769
0
5,325,528
21,113,680
(82,279)
52,068,169
46,084,762
5,983,407
(52,635,001)
8,679,810
(61,314,811)
484,553

141,726,381
20,567,238
177,276,395
120,865,072
4,053,630
37,602
0
256,469
65,903,117
1,189,424
0
29,029,574
0
35,684,119
93,497,025
14,151,296
79,345,729
82,831,568
158,688
39,130,414
0
5,767,124
37,775,342
31,300,905
74,966,045
68,982,638
5,983,407
(75,491,157)
509,172
(76,000,329)
31,826,017
103,936,515
103,936,515
0
107,988,142
97,062,328
10,925,814
(4,051,627)
8,613,751
0
8,613,751
8,938,118
6,823,638
3,088,629
(14,737,490)
0
0
0
2,540,768

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(11,880,456)
199,121
0
0

(7,054,184)
212,900
0
0

(11,957,383)
227,496
0
0

(15,752,045)
252,607
0
0

85,224,084
85,224,084
0
91,856,424
82,371,729
9,484,695
(6,632,340)
5,714,041
0
5,714,041
7,493,830
5,589,991
3,018,734
(15,451,004)
33,938
0
0
2,218,050

38,107,978
0
(12,079,577)
0

29,280,289
0
(7,267,084)
3,600,000

22,819,136
0
(12,184,879)
9,391,696

14,914,055
0
(16,004,652)
6,254,750

71,674,761
476,063
(15,484,942)
13,395,741

114,132,473
158,688
(14,737,490)
14,309,984

0.50
0.00
21.88
0.64
0.83
121.69
0.58
-19.39
-36.49
-27.34

0.29
0.54
18.46
0.64
0.65
125.03
1.24
-11.24
-20.94
-20.94

0.24
2.57
19.26
0.58
0.49
115.83
2.57
-16.74
-46.93
-45.90

0.19
3.76
24.93
0.54
0.37
103.32
12.45
-18.49
-110.15
-83.49

0.34
6.56
22.43
0.65
0.81
107.78
-1,604.52
-13.73
-451.97
-35.69

0.32
6.57
27.93
0.50
0.70
103.90
5.63
-8.68
-94.41
-15.86

9.61

-30.78
0.00
-1.05
3.31

-16.95
0.00
-0.63
2.54

-26.66
0.00
-2.64
4.70

-31.63
0.00
-3.47
1.50

-4.12
-18.13
0.02
-3.36
-0.02

-3.77
-14.18
0.01
-2.14
4.54

4,718,854

6,231,376

5,430,785

15,021,549

225,381

1,152,137

1,874,891

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

402

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

4,823,628

4,681,985

4,796,146

4,597,692

6,916,367
4,817,967
226,125
5,661

7,004,364
4,677,654
211,322
4,331

7,272,090
4,790,105
227,774
6,041

7,393,238
4,593,147
252,228
4,545

1,947,872
873,366
130,725
394,102
0
549,679
1,243,615
602,792
640,823
705,586

2,050,775
628,914
144,637
561,530
0
715,694
1,010,340
484,812
525,528
226,313

2,396,818
397,952
209,416
1,155,394
0
634,056
787,411
511,500
275,911
75,750

2,755,682
139,298
85,560
1,939,815
0
591,009
792,525
578,705
213,820
0

705,586
4,822,299
1,694,586
1,694,586
0
3,127,713

226,313
5,496,107
1,694,586
1,694,586
0
3,801,521

75,750
6,329,803
1,694,586
1,694,586
0
4,635,217

0
6,560,849
1,694,586
1,694,586
0
4,866,263

2,918,583
2,918,583
0
1,879,009

5,506,125
5,506,125
0
4,271,502

5,333,106
5,333,106
0
4,180,586

7,387,857
7,387,857
0
6,432,159

1,039,574
107,120

1,234,623
128,497

1,152,520
230,159

955,698
232,198

(Thousand Rupees)
2009
2010
4,376,297
5,627
7,412,388
4,357,803
256,507
3,658
0
9,209
2,544,811
664,074
311,234
963,309
0
606,194
208,096
0
208,096
9,672
0
0
0
9,672
0
6,703,340
1,694,586
1,694,586
0
5,008,754
0
5,008,754
0

4,167,689
2,142
7,475,790
4,151,240
274,354
3,889
0
10,418
3,329,102
309,924
168,240
1,926,050
76,762
848,126
435,082
200,000
235,082
9,995
0
0
0
9,995
0
7,051,714
1,694,586
1,694,586
0
5,357,128
0
5,357,128
0
9,467,394
9,467,394
0
8,629,255
7,820,801
808,454
838,139
184,249
0
184,249
193,353
5,545
1,754
707,315
20,023
423,647
0
(118,424)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

813,309
7,900
423,646
0

1,023,059
9,800
338,918
0

843,782
7,100
254,188
0

659,693
659,693
338,917
0

8,334,341
8,334,341
0
7,239,966
6,392,309
847,657
1,094,375
182,523
0
182,523
160,224
47,796
39,009
918,241
13,185
762,564
0
1,854,745

5,527,885
0
381,763
602,792

5,722,420
0
674,341
484,812

6,405,553
0
582,494
511,500

6,560,849
0
(338,917)
578,705

6,713,012
0
142,492
0

7,061,709
0
263,646
200,000

1.02
5.53
13.50
0.43
1.57
64.38
0.40
11.94
17.53
14.44
1.90
22.33

1.18
2.33
10.20
0.82
2.03
77.58
0.23
15.15
19.83
18.19
2.99
38.07

1.97
1.87
21.66
0.74
3.04
78.39
0.14
12.12
14.27
13.91
3.29
25.47

2.62
1.14
26.26
1.00
3.48
87.06
0.12
9.07
10.24
10.18
0.00
86.35

7.82
0.57
11.56
1.20
12.23
86.87
0.03
12.87
13.85
13.84
1.19
26.78
24.54
11.02
8.52
5.34
39.56

5.32
0.06
20.34
1.26
7.65
91.15
0.06
9.81
10.28
10.27
1.62
56.27
404.26
7.47
-0.27
4.06
41.61

107,120

128,497

230,159

232,198

161,476

128,262

99,984

84,307

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

403

27.87
0.00
4.75
28.46

18.58
0.00
5.98
32.43

15.82
0.00
4.94
37.35

8.93
0.00
0.00
38.72

Financial Statement Analysis of Non Financial Sector 2010

Kohinoor Power Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

276,102

281,278

259,812

252,868

527,924
276,102
15,689
0

564,354
281,278
14,626
0

532,622
259,812
14,626
0

540,102
252,868
14,424
0

458,973
536
12,563
232,195
0
213,679
360,838
244,247
116,591
0

393,487
677
10,914
143,212
0
238,684
405,751
244,247
161,504
0

333,273
622
7,324
105,798
0
219,529
21,691
1,459
20,232
250,000

129,048
5,371
10,999
64,142
0
48,536
36,544
1,459
35,085
0

0
374,237
120,000
120,000
0
254,237

0
269,014
120,000
120,000
0
149,014

250,000
321,394
120,000
120,000
0
201,394

0
345,372
120,000
120,000
0
225,372

243,545
243,545
0
268,995

278,144
278,144
0
382,676

146,573
146,573
0
186,574

405,613
405,613
0
375,755

(25,450)
4,817

(104,532)
3,394

(40,001)
4,195

29,858
6,265

(Thousand Rupees)
2009
2010
251,506
0
548,324
250,183
13,839
0
0
1,323
164,763
1,844
31,455
84,488
0
46,976
21,350
3,062
18,287
11,266
5,298
0
0
5,968
0
383,653
126,000
126,000
0
257,653
0
257,653
0

242,065
0
549,548
240,242
14,630
0
0
1,823
205,121
14,657
32,892
62,650
0
94,922
26,670
3,768
22,902
11,494
4,552
0
0
6,942
0
409,022
126,000
126,000
0
283,022
0
283,022
0
747,919
747,919
0
710,072
665,823
44,249
37,847
11,841
0
11,841
18,932
1,235
945
25,374
6
0
0
19,837

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(25,951)
1
0
0

(101,149)
1
0
0

(36,806)
0
0
0

22,977
0
0
6,000

737,622
737,622
0
690,268
647,480
42,788
47,354
9,596
0
9,596
18,094
245
58
38,289
8
0
0
3,105

374,237
0
(25,952)
244,247

269,014
0
(101,150)
244,247

571,394
0
(36,806)
1,459

345,372
0
22,977
1,459

394,919
5,298
38,281
8,360

420,515
4,552
25,368
8,320

0.64
6.11
95.34
0.33
1.27
110.45
0.96
-3.51
-6.71
-6.29

0.35
1.65
51.49
0.41
0.97
137.58
1.51
-14.35
-31.45
-31.45

4.91
0.06
72.18
0.25
15.36
127.29
0.85
-5.81
-12.47
-8.76

1.90
0.30
15.81
1.06
3.53
92.64
0.11
4.71
6.89
5.01

4.04
0.03
11.45
1.77
7.72
93.58
0.09
9.59
10.50
10.34

2.90
0.17
8.38
1.67
7.69
94.94
0.09
5.88
6.40
6.22

4,817

3,394

4,195

6,265

14,890

4,601

91

1,235

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

19.39

25.49

20.01

36.88

23.45
661.15
5.19
0.10
3.04
30.45

22.74
27.85
3.39
0.52
2.01
32.46

-10.66
0.00
-2.16
31.19

-36.37
0.00
-8.43
22.42

-25.11
0.00
-3.07
26.78

5.66
0.00
1.91
28.78

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

23,715,060

22,756,181

21,267,858

19,855,864

37,541,334
23,714,731
1,674,698
329

38,118,274
22,755,936
1,589,933
245

38,213,786
21,265,184
1,588,597
2,674

38,339,971
19,853,466
1,558,171
2,398

13,014,996
3,762,465
2,621,847
2,330,994
0
4,299,690
5,330,912
2,102,271
3,228,641
8,853,836

11,521,601
4,366,054
1,129,664
3,115,000
0
2,910,883
14,155,945
0
14,155,945
0

17,663,168
208,999
1,759,459
11,574,384
0
4,120,326
20,067,578
6,431,343
13,636,235
0

37,108,597
179,439
2,191,568
29,303,453
0
5,434,137
35,605,529
23,643,655
11,961,874
30,924

8,853,836
22,545,308
8,802,532
8,802,532
0
13,742,776

0
20,121,837
8,802,532
8,802,532
0
11,319,305

0
18,863,448
8,802,532
8,802,532
0
10,060,916

30,924
21,328,008
8,802,532
8,802,532
0
12,525,476

29,920,787
29,920,787
0
20,184,251

32,833,378
32,833,378
0
22,998,341

37,086,650
37,086,650
0
28,343,289

55,947,078
55,947,078
0
46,600,485

9,736,536
183,421

9,835,037
200,901

8,743,361
289,613

9,346,593
381,261

(Thousand Rupees)
2009
2010
18,796,425
212,606
38,474,561
18,504,118
1,497,750
3,335
0
76,366
41,162,829
400,353
1,967,212
32,721,969
0
6,073,295
28,739,296
8,626,494
20,112,802
8,136,722
46,214
5,147,476
0
366,299
2,576,733
23,083,236
8,802,532
8,802,532
0
14,280,704
444,451
13,836,253
0

17,965,609
81,068
39,326,905
17,800,135
1,560,380
2,415
0
81,991
59,634,484
243,996
2,267,205
51,702,270
0
5,421,013
47,633,863
17,243,176
30,390,687
7,471,502
45,728
4,247,761
0
412,852
2,765,161
22,494,728
8,802,532
8,802,532
0
13,692,196
444,451
13,247,745
0
85,934,854
85,934,854
0
76,010,946
71,741,859
4,269,087
9,923,908
631,290
0
631,290
709,886
5,335,919
5,317,502
7,730,531
2,454,277
4,401,266
0
(1,318,553)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

8,128,570
41,000
3,780,866
0

8,596,512
116,000
7,130,051
0

7,583,640
2,491,738
5,281,520
0

8,059,525
2,601,032
4,797,380
0

69,363,913
69,363,913
0
58,373,072
55,621,836
2,751,236
10,990,841
727,267
0
727,267
599,771
6,410,224
6,406,030
8,722,880
2,876,292
5,677,633
0
20,427,992

31,399,144
0
4,306,704
2,102,271

20,121,837
0
1,350,461
0

18,863,448
0
(189,618)
6,431,343

21,358,932
0
661,113
23,643,655

31,219,958
46,214
168,955
8,672,708

29,966,230
45,728
874,988
17,288,904

1.14
5.90
7.79
0.81
2.44
67.46
0.63
22.13
36.05
25.89
2.14
11.41

0.53
4.46
9.49
0.96
0.81
70.05
0.70
24.21
40.30
33.37
1.19
29.06

0.59
3.58
31.21
0.95
0.88
76.42
1.06
20.72
38.91
38.91
0.96
21.08

0.83
3.95
52.38
0.98
1.04
83.29
1.67
16.81
40.11
40.07
1.14
25.53

1.15
9.24
47.17
1.16
1.43
84.15
1.60
14.92
39.28
33.18
1.03
35.26
2.36
12.58
0.55
6.64
26.22

1.09
6.21
60.16
1.11
1.25
88.45
2.45
11.24
33.92
25.27
1.20
37.90
2.45
9.00
-0.02
5.99
25.55

183,421

200,901

289,613

381,261

1,766,735

1,465,498

1,327,430

2,208,130

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

27.17
0.00
9.19
25.61

26.18
0.00
9.63
22.86

20.45
0.00
5.78
21.43

14.41
0.00
6.20
24.23

Financial Statement Analysis of Non Financial Sector 2010

Mari Gas Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

3,726,830

3,395,292

3,499,353

6,770,555

4,824,754
2,434,296
332,209
1,292,534

6,217,374
3,325,033
386,581
70,259

6,665,229
3,430,295
378,791
69,058

4,861,362
3,458,188
137,030
3,312,367

4,203,084
2,939,965
0
954,480
0
308,639
4,821,977
224,200
4,597,777
336,300

4,822,656
3,165,311
0
1,211,969
0
445,376
5,423,202
224,100
5,199,102
112,100

5,172,106
2,829,209
0
1,456,725
0
886,172
5,423,190
112,100
5,311,090
0

5,820,346
2,214,611
0
2,374,041
0
1,231,694
5,891,871
0
5,891,871
500,000

336,300
2,771,637
367,500
367,500
0
2,404,137

112,100
2,682,646
367,500
367,500
0
2,315,146

0
3,248,269
367,500
367,500
0
2,880,769

500,000
6,199,030
367,500
367,500
0
5,831,530

15,937,066
15,937,066
0
13,579,867

19,651,914
19,651,914
0
17,191,666

22,211,083
22,211,083
0
18,993,698

21,566,313
21,566,313
0
15,706,262

2,357,199
1,765,403

2,460,248
2,179,575

3,217,385
2,108,025

5,860,051
2,089,539

(Thousand Rupees)
2009
2010
10,442,743
2,387,079
5,812,573
2,492,869
346,033
4,602,659
0
960,136
10,008,759
1,694,638
0
7,188,601
0
1,125,520
9,110,314
0
9,110,314
3,108,466
1,200,000
0
0
70,256
1,838,210
8,232,722
367,500
367,500
0
7,865,222
2,591,730
5,273,492
0

11,502,761
887,000
4,238,936
3,653,056
425,850
5,876,104
0
1,086,601
10,409,653
3,607,305
0
6,099,654
0
702,694
8,464,507
380,000
8,084,507
4,257,081
1,720,000
0
0
76,196
2,460,885
9,190,826
735,000
735,000
0
8,455,826
3,164,473
5,291,353
0
5,240,117
5,240,117
0
660,553
0
660,553
4,579,564
3,251,656
0
3,251,656
897,691
465,539
196,509
1,351,088
291,021
227,850
0
2,302,035

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

677,928
472,794
111,977
0

602,638
516,472
113,850
0

1,382,144
902,166
118,262
0

3,960,305
1,560,794
119,070
0

5,789,203
5,789,203
0
723,650
0
723,650
5,065,553
2,682,282
0
2,682,282
891,285
321,064
113,355
2,394,725
488,534
118,225
367,500
1,939,909

3,107,937
0
93,157
224,200

2,794,746
0
(27,684)
224,100

3,248,269
0
361,716
112,100

6,699,030
0
2,280,441
0

11,341,188
1,200,000
1,787,966
1,200,000

13,447,907
1,720,000
832,217
2,100,000

0.81
0.23
5.99
2.01
0.87
85.21
1.86
9.05
25.73
21.99
1.83

0.81
0.23
6.17
2.39
0.89
87.48
2.06
7.46
22.10
20.42
0.76

0.79
0.74
6.56
2.56
0.95
85.51
1.67
16.37
46.61
45.74
4.06

0.78
0.87
11.01
1.71
0.99
72.83
1.03
37.25
83.84
79.63
20.15

0.98
5.55
124.17
0.28
1.10
12.50
1.48
14.49
33.19
26.55
16.12

1.15
8.88
116.40
0.24
1.23
12.61
1.38
6.38
15.51
10.90
4.65

4.25
0.00
5.58
75.42

3.07
0.00
2.34
73.00

6.22
0.00
13.06
88.39

18.36
0.00
65.29
168.68

1,765,403

2,179,575

2,108,025

2,089,539

36,429

44,258

163,898

187,863

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

406

22.13
41.37
0.16
51.87
224.02

7.88
25.78
0.18
14.42
125.05

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

14,970,510
14,883,152
88,360
87,358
954
0
0
0
66,906
58,191
129
0
0
8,586
701,170
253,440
447,730
11,396,546
11,396,546
0
0
0
0
2,939,700
2,912,500
2,912,500
0
27,200
0
27,200
0

16,667,306
0
16,709,872
16,667,306
41,564
0
0
0
5,769,292
1,774,674
354,478
2,668,598
0
971,542
4,924,189
3,531,805
1,392,385
13,897,146
13,424,261
472,885
0
0
0
3,615,262
3,540,885
3,540,885
0
74,377
0
74,377
0

0
0
0
0
0
0
0
8,242
0
8,242
2,007
0
0
49,747
2,291
0
0
29,994

1,018,365
1,018,365
0
795,521
729,320
66,201
222,844
17,204
0
17,204
4,611
185,493
179,471
72,200
25,023
0
0
(3,171,310)

14,336,247
11,396,546
47,456
11,649,986

17,512,408
13,424,261
47,177
16,956,066

0.08

0.90
18.21
262.05
0.05
1.17
78.12
5.21
0.39
2.20
0.45

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

407

0.00
0.10

4.12
0.33
1.69
0.35

0.00

2.87
1.40
7.09
-0.17
0.13
10.21

0.00
0.16
10.09

Financial Statement Analysis of Non Financial Sector 2010

Oil & Gas Development Company 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

2005

2006

2007

2008

43,250,579

44,457,959

56,715,900

67,706,248

84,532,051
43,250,579
5,459,444
0

89,009,134
41,906,810
5,955,174
2,551,149

59,039,503
27,965,907
3,234,509
28,749,993

64,653,239
30,898,207
3,354,064
36,808,041

71,328,354
37,799,224
32,404
18,527,574
2,437,121
12,532,031
30,025,194
0
30,025,194
0

76,856,751
1,186,870
65,608
24,498,986
33,939,739
17,165,548
26,544,433
0
26,544,433
0

72,622,272
4,720,292
93,788
27,873,515
2,945,938
36,988,739
28,721,520
0
28,721,520
0

82,862,139
6,715,048
151,782
40,626,931
3,175,054
32,193,324
41,196,962
0
41,196,962
0

0
84,553,739
43,009,284
43,009,284
0
41,544,455

0
94,770,277
43,009,284
43,009,284
0
51,760,993

0
100,616,652
43,009,284
43,009,284
0
57,607,368

0
109,371,425
43,009,284
43,009,284
0
66,362,141

86,056,723
86,056,723
0
35,605,459

113,384,416
113,384,416
0
47,458,771

117,134,385
117,134,385
0
47,593,117

139,626,295
139,626,295
0
52,124,138

50,451,264
3,403,316

65,925,645
4,557,241

69,541,268
12,284,544

87,502,157
12,248,887

(Thousand Rupees)
2009
2010
92,531,628
0
70,011,404
29,855,966
3,807,898
49,057,766
2,903,133
10,714,763
85,460,768
3,973,818
108,301
56,140,092
0
25,238,557
21,287,498
0
21,287,498
30,533,502
0
0
0
2,008,499
28,525,003
126,171,396
43,009,284
43,009,284
0
83,162,112
3,658,318
79,503,794
0

108,433,851
0
78,951,847
34,998,898
3,981,686
58,630,857
3,231,435
11,572,661
120,433,800
7,843,820
172,084
82,992,291
0
29,425,605
34,840,843
0
34,840,843
36,634,322
0
0
0
2,699,773
33,934,549
157,392,486
43,009,284
43,009,284
0
114,383,202
3,859,682
110,523,520
0
142,571,863
142,571,863
0
41,948,928
0
41,948,928
100,622,935
14,161,202
0
14,161,202
11,751,673
1,273,312
0
88,552,753
23,127,095
23,655,106
0
61,506,185

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

49,020,216
13,414,419
25,805,572
0

65,757,228
19,073,941
38,708,356
0

60,754,509
14,616,005
38,708,356
0

78,307,404
21,039,758
40,858,820
0

130,829,579
130,829,579
0
39,352,049
0
39,352,049
91,477,530
13,051,906
0
13,051,906
10,026,882
926,027
0
80,927,923
16,799,082
35,482,659
0
52,979,320

84,553,739
0
9,800,225
0

94,770,277
0
7,974,931
0

100,616,652
0
7,430,148
0

109,371,425
0
16,408,826
0

156,704,898
0
28,646,182
0

194,026,808
0
41,770,552
0

1.96
0.01
21.53
0.75
2.38
41.37
0.36
46.57
62.18
62.18
1.38
2,655.74

2.25
0.01
21.61
0.93
2.90
41.86
0.28
55.75
73.34
73.34
1.21
1,728.21

1.23
0.38
29.10
0.93
2.01
37.33
0.38
55.95
74.58
74.58
1.40
919.91

2.82
0.71
42.91
0.74
4.01
30.08
0.41
49.26
68.72
60.83
1.81
1,208.02

2.61
0.89
58.21
0.62
3.46
29.42
0.45
43.53
62.46
50.50
2.77
828.50

3,403,316

4,557,241

12,284,544

12,248,887

5,955

9,981

532,670

536,799

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

408

1.24
0.45
23.80
0.91
2.53
40.63
0.29
48.48
62.19
62.19
1.19
1,248.93

56.96
0.00
8.28
19.66

57.99
0.00
10.85
22.03

51.87
0.00
10.73
23.39

56.08
0.00
13.32
25.43

61.86
1.02
14.91
29.34

62.11
0.86
15.21
36.60

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

126,067

114,417

109,968

100,045

306,374
126,067
13,739
0

302,028
114,417
6,065
0

303,632
109,968
6,053
0

299,123
100,045
5,415
0

295,837
1,675
0
242,515
0
51,647
69,477
0
69,477
0

228,852
9,090
0
69,405
0
150,357
26,559
1,604
24,955
0

204,153
76
0
112,756
0
91,321
11,791
0
11,791
0

192,389
112
0
101,627
0
90,650
10,011
0
10,011
0

0
352,427
178,333
178,333
0
174,094

0
316,710
178,333
178,333
0
138,377

0
302,330
178,333
178,333
0
123,997

0
282,423
178,333
178,333
0
104,090

184,926
184,926
0
171,781

200,050
200,050
0
220,296

64,835
64,835
0
78,573

0
0
0
16,256

13,145
13,513

(20,246)
12,302

(13,738)
11,464

(16,256)
5,856

(Thousand Rupees)
2009
2010
95,119
0
299,123
94,919
5,126
0
0
200
191,860
44
0
101,454
0
90,362
11,739
0
11,739
113
0
0
0
0
113
275,127
178,333
178,333
0
96,794
89,116
7,678
0

95,414
0
299,123
90,064
4,854
0
0
5,350
184,606
212
0
94,036
0
90,359
11,868
0
11,868
722
0
609
0
0
113
267,431
178,333
178,333
0
89,098
89,116
(18)
0
0
0
0
6,610
0
6,610
(6,610)
982
0
982
0
105
0
(7,696)
0
0
0
4,708

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

8,083
0
0
0

(34,380)
0
0
0

(14,380)
0
0
0

(19,906)
0
0
0

0
0
0
6,337
0
6,337
(6,337)
956
0
956
0
3
0
(7,296)
0
0
0
(68)

352,427
0
8,083
0

316,710
0
(34,380)
1,604

302,330
0
(14,380)
0

282,423
0
(19,906)
0

275,240
0
(7,296)
0

268,153
0
(7,696)
0

3.51
0.06
131.14
0.44
4.26
92.89
0.20
1.97
2.34
2.34

2.96
0.33
34.69
0.58
8.62
110.12
0.08
-8.99
-10.28
-10.28

9.57
0.54
173.91
0.21
17.31
121.19
0.04
-4.37
-4.65
-4.65

10.16

8.65

7.94

0.00
19.22

0.00
16.34

0.00
15.56

4.37
0.00
0.45
19.76

-17.19
0.00
-1.93
17.76

-22.18
0.00
-0.81
16.95

13,513

12,302

11,464

5,856

118

652

350

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

409

0.04
-6.56
-6.81
-6.81

0.04
-2.52
-2.62
-2.62

0.05
-2.71
-2.84
-2.83

0.00
-1.12
15.84

-0.01
-0.41
15.43

0.37
-0.43
15.00

Financial Statement Analysis of Non Financial Sector 2010

Shell Gas LPG (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

2005

2006

2007

2008

418,361

540,466

607,294

547,279

790,765
370,936
46,724
47,425

759,669
498,042
63,614
42,424

1,041,679
567,044
72,756
40,250

1,059,971
513,452
77,626
33,827

305,206
7,538
11,308
10,260
2
276,098
472,484
83,166
389,318
0

379,583
40,447
17,242
17,404
37,002
267,488
684,358
188,043
496,315
0

279,033
5,159
71,190
3,233
2
199,449
623,687
118,065
505,622
75,000

314,437
52,621
22,094
4,320
2
235,400
560,440
25,892
534,548
75,000

0
251,083
26,952
26,952
0
224,131

0
235,691
26,952
26,952
0
208,739

75,000
187,640
32,343
32,343
0
155,297

75,000
226,276
226,400
226,400
0
(124)

998,497
998,497
0
806,149

1,673,935
1,673,935
0
1,469,587

1,753,421
1,753,421
0
1,642,324

1,295,154
1,295,154
0
1,256,389

192,348
137,629

204,348
217,096

111,097
206,100

38,765
206,326

(Thousand Rupees)
2009
2010
615,134
0
1,633,737
456,620
77,175
29,094
2
129,418
266,930
193,499
25,763
2,696
0
44,972
108,159
0
108,159
475,470
75,000
0
0
0
400,470
298,435
226,400
226,400
0
72,035
90,000
(17,965)
0

533,052
0
918,882
387,181
17,658
24,361
2
121,508
202,590
126,929
25,645
5,525
0
44,491
134,738
0
134,738
252,139
0
0
0
0
252,139
348,765
226,400
226,400
0
122,365
90,000
32,365
0
1,225,694
1,225,694
0
1,148,089
1,057,013
91,076
77,605
168,174
58,271
109,903
69,786
11,786
10,086
82,897
6,129
0
0
(220)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

107,078
28,749
18,866
0

18,420
17,014
13,476
0

(80,728)
7,623
0
6,469

(182,730)
5,649
0
0

1,239,600
1,239,600
0
992,825
903,521
89,304
246,775
194,803
93,457
101,346
67,095
12,684
11,328
68,575
0
0
0
179,045

251,083
0
59,463
83,166

235,691
0
(12,070)
188,043

262,640
0
(88,351)
118,065

301,276
0
(188,379)
25,892

773,905
75,000
68,575
75,000

600,904
0
76,768
0

0.04
0.15
1.03
1.38
0.65
80.74
1.88
15.84
49.51
49.51
4.15
88.30

0.14
0.86
1.04
1.82
0.55
87.79
2.90
2.24
7.57
7.57
0.10
97.08

0.01
1.01
0.18
1.98
0.45
93.66
3.72
-8.94
-38.14
-32.40

0.10
1.52
0.33
1.50
0.56
97.01
2.81
-20.91
-88.29
-64.81

1.81
1.02
0.22
1.41
2.47
80.09
1.96
7.87
26.14
12.76

0.98
0.96
0.45
1.67
1.50
93.67
1.11
10.25
25.62
12.06

137,629

217,096

206,100

206,326

1,534

14,380

17,732

19,735

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

410

24.63

58.62

48.12
7.05
5.53
0.31
3.03
13.18

47.79
9.22
6.76
0.00
3.39
15.40

10.72
0.00
29.06
93.16

1.10
0.00
0.52
87.45

-4.60
0.00
-27.32
58.02

-14.11
0.00
-8.32
9.99

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

891,437

992,104

2,105,173

2,204,561

1,537,695
891,437
47,491
0

1,678,936
992,104
44,522
0

2,829,988
2,105,173
39,966
0

2,987,972
2,204,561
60,428
0

856,514
6,068
112,087
427,527
50,000
260,832
741,091
679,052
62,039
46,200

1,103,674
7,240
45,187
385,137
50,000
616,110
1,042,374
888,862
153,512
85,791

756,331
2,957
41,649
220,311
50,000
441,414
1,009,867
836,873
172,994
882,845

1,095,286
26,217
169,252
359,979
0
539,838
1,168,255
959,713
208,542
1,075,711

20,000

980,000

46,200
960,660
190,920
190,920
0
769,740

85,791
967,613
190,920
190,920
0
776,693

862,845
968,792
190,920
190,920
0
777,872

95,711
1,055,881
190,920
190,920
0
864,961

1,340,315
1,340,315
0
1,321,037

1,558,631
1,558,631
0
1,453,883

1,691,898
1,691,898
0
1,515,606

2,643,961
2,643,961
0
2,276,881

19,278
32,364

104,748
36,099

176,292
40,183

367,080
61,337

(Thousand Rupees)
2009
2010
2,323,286
20,669
2,119,623
1,372,794
73,641
0
0
929,823
1,162,222
24,627
123,266
473,570
1,380
539,380
1,460,646
1,206,170
254,476
949,505
167,005
0
782,500
0
0
1,075,357
190,920
190,920
0
884,437
141,646
742,791
0

2,492,038
141,647
2,226,749
1,303,458
80,832
0
63,403
983,530
1,127,173
13,387
156,419
405,120
1,715
550,532
1,571,813
1,296,945
274,868
867,727
300,227
0
567,500
0
0
1,179,671
190,920
190,920
0
988,751
141,780
846,971
0
3,896,185
3,896,185
0
3,414,042
3,397,026
17,016
482,143
73,297
0
73,297
29,202
315,455
312,982
142,233
207
38,184
0
506,920

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(40,118)
276
47,730
0

7,351
315
0
0

1,518
339
0
0

93,359
396
47,730
0

3,026,399
3,026,399
0
2,565,292
2,551,158
14,133
461,107
62,419
0
62,419
23,319
336,834
332,709
68,212
1,438
38,184
0
428,878

1,006,860
0
(88,124)
679,052

1,053,404
0
7,036
888,862

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

0.65
2.16
31.90
0.77
1.16
98.56
0.82
-2.56
-4.09
-3.87
-0.85
11.96

0.42
5.75
24.71
0.74
1.06
93.28
1.17
0.38
0.76
0.71

0.27
8.39
13.02
0.59
0.75
89.58
1.95
0.06
0.16
0.10

0.33
8.57
13.62
0.80
0.94
86.12
2.13
3.03
9.22
4.69
1.95
15.62

0.34
11.13
15.65
0.87
0.80
84.76
2.24
2.01
6.40
3.28
1.75
24.55
1.21
2.25
0.18
3.50
56.33

0.27
8.10
10.40
1.08
0.72
87.63
2.07
4.00
12.61
6.99
3.72
24.91
1.45
3.65
0.21
7.44
61.79

32,364

36,099

40,183

61,337

28,921

89,662

142,013

226,518

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

411

34.49

40.62

-2.99
0.00
-2.12
50.32

0.47
0.00
0.37
50.68

0.09
0.00
0.06
50.74

3.53
0.00
4.87
55.30

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

6,514,590

6,973,878

6,887,497

7,039,634

7,946,487
6,514,590
248,377
0

8,655,628
6,973,878
249,923
0

8,817,999
6,887,497
249,643
0

9,251,853
7,039,634
283,461
0

994,830
11,444
156,096
328,543
0
498,747
2,197,898
1,813,650
384,248
2,858,010

731,210
21,842
55,313
113,423
0
540,632
2,304,949
1,784,147
520,802
2,925,621

909,978
99,307
75,364
90,428
0
644,879
3,152,195
1,951,208
1,200,987
2,465,886

924,528
41,159
34,747
404,783
0
443,839
3,184,128
2,023,457
1,160,671
2,898,402

2,858,010
2,453,512
1,366,758
1,366,758
0
1,086,754

2,925,621
2,474,518
1,366,758
1,366,758
0
1,107,760

2,465,886
2,179,394
1,366,758
1,366,758
0
812,636

2,898,402
1,881,632
1,366,758
1,366,758
0
514,874

2,798,066
2,798,066
0
2,319,178

4,240,616
4,240,616
0
3,691,164

4,415,591
4,415,591
0
4,163,225

3,989,257
3,989,257
0
3,712,050

478,888
82,253

549,452
86,454

252,366
87,170

277,207
102,863

(Thousand Rupees)
2009
2010
7,327,682
0
9,838,573
7,327,682
320,801
0
0
0
1,920,860
4,499
79,279
1,617,302
0
219,780
4,175,540
2,455,893
1,719,647
3,044,608
3,023,297
0
0
21,244
67
2,028,394
1,366,758
1,366,758
0
661,636
0
661,636
0

7,206,036
0
10,034,059
7,206,036
327,961
0
0
0
4,251,691
39,824
304,181
3,465,551
0
442,135
7,017,455
3,274,988
3,742,467
2,359,196
2,331,321
0
0
27,875
0
2,081,076
1,366,758
1,366,758
0
714,318
0
714,318
0
5,541,957
5,541,957
0
4,691,971
3,982,199
709,772
849,986
56,018
0
56,018
74,657
987,884
920,834
121,682
0
0
0
673,201

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

62,542
0
18,376
0

37,519
0
0
0

(295,124)
0
0
0

(297,762)
0
0
0

1,911,237
1,911,237
0
903,706
484,967
418,739
1,007,531
240,771
0
240,771
63,334
766,957
688,734
146,762
0
0
0
158,927

5,311,522
0
44,166
1,813,650

5,400,139
0
37,519
1,784,147

4,645,280
0
(295,124)
1,951,208

4,780,034
0
(297,762)
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

0.06
10.54
2.05
0.57
0.29
94.28
2.58
-3.81
-12.68
-5.88

0.14
14.36
10.15
0.50
0.29
93.05
3.23
-3.78
-14.66
-6.32

0.39
40.13
84.62
0.21
0.46
47.28
3.56
1.71
7.51
2.98

0.50
17.83
62.53
0.48
0.61
84.66
4.51
1.18
5.92
2.56

82,253

86,454

87,170

102,863

349,303

428,691

465,547

572,898

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.15
12.48
11.74
0.37
0.45
82.89
2.06
0.84
2.58
1.12
3.40
17.93

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

412

0.06
10.11
2.67
0.55
0.32
87.04
2.11
0.49
1.52
0.70

76.67

58.59

114.81

24.11
1.21
7.68
0.02
1.07
14.84

18.22
1.13
2.20
0.07
0.89
15.23

2.24
0.00
0.46
17.95

0.88
0.00
0.27
18.11

-6.68
0.00
-2.16
15.95

-7.46
0.00
-2.18
13.77

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

40,448,733

43,568,193

50,053,930

62,194,617

71,281,060
40,448,733
3,646,644
0

78,406,554
43,561,473
4,218,128
6,720

89,298,101
50,036,217
4,583,427
17,713

106,078,443
62,165,176
4,929,339
29,441

24,627,626
8,315,084
346,382
14,195,231
4,900
1,766,029
38,580,843
2,254,509
36,326,334
3,473,672

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

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

35,453,026
8,137,148
525,370
18,757,385
515,996
7,517,127
77,728,331
1,561,895
76,166,436
2,780,463

3,473,672
23,021,844
4,991,866
4,991,866
0
18,029,978

1,949,084
15,108,692
4,991,866
4,991,866
0
10,116,826

662,500
16,289,475
5,491,053
5,491,053
0
10,798,422

2,780,463
17,138,849
5,491,053
5,491,053
0
11,647,796

97,487,655
97,487,655
0
85,302,710

107,897,291
107,897,291
0
94,032,495

137,187,372
137,187,372
0
123,778,570

124,155,033
124,155,033
0
109,107,461

12,184,945
9,515,419

13,864,796
11,146,236

13,408,802
12,246,368

15,047,572
14,134,052

(Thousand Rupees)
2009
2010
79,211,266
14,949,539
113,137,882
63,395,893
5,971,105
270,845
4,900
590,089
43,340,696
1,316,877
783,362
25,706,362
0
15,534,095
52,595,572
1,013,358
51,582,214
53,808,874
0
1,798,312
0
392,249
51,618,313
16,147,516
5,491,053
5,491,053
0
10,656,463
0
10,656,463
0

87,462,235
16,553,986
124,929,930
69,819,093
6,917,950
355,290
4,900
728,966
50,959,702
2,009,122
741,128
42,874,560
0
5,334,892
61,339,744
1,000,000
60,339,744
58,380,114
0
1,251,220
0
453,628
56,675,266
18,702,079
5,491,053
5,491,053
0
13,211,026
0
13,211,026
0
161,629,828
161,629,828
0
156,016,865
0
156,016,865
5,612,963
4,855,410
2,092,261
2,763,149
5,357,037
4,650,154
90,933
3,879,931
873,859
1,098,211
0
16,256,271

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

4,280,317
1,054,151
1,247,967
0

5,119,060
1,515,702
1,497,560
499,187

4,249,572
1,107,566
1,647,316
0

3,981,231
626,301
1,921,869
0

168,933,831
168,933,831
0
164,309,992
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
17,431,999

26,495,516
0
1,978,199
2,254,509

17,057,776
0
2,105,798
2,559,650

16,951,975
0
1,494,690
1,286,584

19,919,312
0
1,433,061
1,561,895

69,956,390
0
1,730,285
1,013,358

77,082,193
0
1,907,861
1,000,000

0.58
0.94
14.56
1.50
0.64
87.50
1.83
7.02
24.73
19.85
2.59
281.45

0.50
1.09
13.45
1.40
0.56
87.15
4.11
7.19
26.85
23.51
2.41
242.05

0.45
0.63
11.83
1.64
0.50
90.23
4.14
5.28
27.07
24.99
1.91
289.79

0.35
0.64
15.11
1.27
0.46
87.88
4.70
4.39
23.82
21.60
1.75
236.32

0.51
0.39
15.22
1.38
0.82
97.26
6.59
1.57
10.40
3.85

0.73
2.88
26.53
1.17
0.83
96.53
6.40
2.97
22.27
5.28
2.74
218.09
43.67
2.40
0.14
5.47
34.06

9,515,419

11,146,236

12,246,368

14,134,052

913,758

1,180,203

860,715

789,247

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

413

4.39
0.00
6.46
46.12

4.74
0.00
7.22
30.27

3.10
0.00
5.72
29.67

3.21
0.00
6.11
31.21

215.65
19.70
1.02
0.16
3.15
29.41

Financial Statement Analysis of Non Financial Sector 2010

Sui Southern Gas Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

21,702,060

24,956,154

31,395,913

33,877,137

43,963,090
21,641,128
2,175,681
60,932

49,246,982
24,899,887
2,226,382
56,267

57,756,020
31,333,811
2,248,374
62,102

61,543,598
33,807,564
2,215,489
69,573

15,980,433
1,269,203
227,318
8,754,927
166,525
5,562,460
19,302,429
1,665,126
17,637,303
7,166,330

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

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

37,825,767
4,356,367
512,383
20,045,028
157,494
12,754,495
45,805,157
2,414,615
43,390,542
15,582,621

416,330

2,987,686

6,750,000
11,213,734
6,711,743
6,711,743
0
4,501,991

8,725,052
11,245,875
6,711,743
6,711,743
0
4,534,132

9,472,511
9,738,903
6,711,743
6,711,743
0
3,027,160

15,582,621
10,315,126
6,711,743
6,711,743
0
3,603,383

62,511,685
62,511,685
0
56,621,714

77,562,255
77,562,255
0
70,853,144

85,716,663
85,716,663
0
79,789,367

86,829,339
86,829,339
0
79,425,176

5,889,971
6,329,966

6,709,111
6,749,199

5,927,296
6,882,423

7,404,163
8,128,793

(Thousand Rupees)
2009
2010
39,521,329
3,537,669
64,620,923
34,557,963
2,772,817
43,891
1,266,777
115,029
61,032,671
1,477,224
490,539
32,568,205
118,796
26,377,907
57,923,004
4,969,490
52,953,514
32,947,402
17,496,775
0
0
1,308,176
14,142,451
9,683,594
6,711,743
6,711,743
0
2,971,851
328,681
2,643,170
0

42,924,835
4,750,415
69,404,439
36,915,188
2,957,777
4,510
1,137,656
117,066
67,834,860
620,956
455,415
43,815,667
118,795
22,824,027
66,631,297
8,755,336
57,875,961
30,055,980
11,644,780
0
0
1,530,262
16,880,938
14,072,418
6,711,743
6,711,743
0
7,360,675
318,357
7,042,318
0
107,736,781
107,736,781
0
104,896,047
95,333,111
9,562,936
2,840,734
3,241,502
714,540
2,526,962
7,539,687
5,015,893
2,620,138
7,013,418
609,524
1,006,761
1,677,936
4,876,998

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,588,684
197,354
1,006,761
0

1,720,226
417,116
872,527
0

1,335,225
370,219
335,587
0

2,381,632
415,492
838,968
0

108,151,087
108,151,087
0
108,672,507
102,388,858
6,283,649
(521,420)
4,571,844
715,607
3,856,237
3,719,317
4,409,792
2,599,845
416,699
0
0
0
(5,189,460)

18,380,064
416,330
384,569
2,081,456

19,970,927
0
430,583
2,684,236

22,199,100
2,987,686
629,419
6,244,952

25,897,747
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

0.53
0.90
14.01
1.66
0.83
90.58
2.36
4.57
13.79
9.12
1.38
275.00

0.55
1.79
14.05
1.65
0.82
91.35
3.19
4.06
15.32
8.97
1.49
275.67

0.54
2.08
18.80
1.38
0.77
93.09
5.36
2.45
12.73
6.33
2.88
232.36

0.54
2.73
23.09
1.21
0.83
91.47
5.95
3.56
23.75
9.90
2.34
169.46

0.59
4.08
30.11
1.08
1.05
100.48
9.38
0.48
4.17
1.22

0.67
4.66
40.67
0.97
1.02
97.36
6.87
6.64
59.05
16.17
6.36
236.57
3.68
6.51
0.05
9.54
20.97

6,329,966

6,749,199

6,882,423

8,128,793

563,017

1,390,460

1,778,740

2,370,674

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

414

2.54
0.00
2.07
16.71

2.22
0.00
1.94
16.76

1.56
0.00
1.44
14.51

2.74
0.00
2.93
15.37

220.47
1.16
0.39
-0.06
0.62
14.43

Financial Statement Analysis of Non Financial Sector 2010

The Hub Power Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

34,939,507

33,324,680

31,861,785

33,940,577

48,410,041
34,931,885
1,647,753
7,622

48,733,023
33,319,208
1,652,669
5,472

48,914,567
31,856,615
1,657,043
5,170

52,652,367
33,938,057
1,665,821
2,520

11,696,228
6,038,136
1,251,045
1,444,237
0
2,962,810
4,729,730
3,037,544
1,692,186
10,229,283

10,190,712
3,363,306
1,890,864
2,938,436
0
1,998,106
4,279,966
979,062
3,300,904
9,250,221

13,131,730
742,861
2,563,757
7,936,783
0
1,888,329
7,670,092
3,069,062
4,601,030
8,271,160

28,756,172
662,226
1,564,183
24,871,327
0
1,658,436
26,933,980
14,305,840
12,628,140
7,292,098

10,229,283
31,676,722
11,571,544
11,571,544
0
20,105,178

9,250,221
29,985,205
11,571,544
11,571,544
0
18,413,661

8,271,160
29,052,263
11,571,544
11,571,544
0
17,480,719

7,292,098
28,470,671
11,571,544
11,571,544
0
16,899,127

17,909,463
17,909,463
0
10,752,495

30,915,687
30,915,687
0
26,557,346

49,575,047
49,575,047
0
45,411,178

70,428,588
70,428,588
0
65,678,654

7,156,968
194,244

4,358,341
280,729

4,163,869
252,919

4,749,934
288,770

(Thousand Rupees)
2009
2010
40,843,660
8,996,646
49,653,152
29,225,249
1,709,616
1,661,733
0
960,032
50,996,546
1,034,660
2,540,887
46,629,457
0
791,542
50,902,674
4,574,332
46,328,342
11,357,733
11,342,483
0
0
15,001
249
29,579,799
11,571,544
11,571,544
0
18,008,255
95,687
17,912,568
0

56,067,554
26,371,939
49,737,070
27,609,409
1,723,516
1,424,160
0
662,046
69,964,674
927,940
1,559,876
66,712,461
0
764,397
70,394,638
8,400,189
61,994,449
25,511,722
25,454,733
0
0
15,689
41,300
30,125,868
11,571,544
11,571,544
0
18,554,324
357,415
18,196,909
0
99,694,264
99,694,264
0
92,006,319
86,246,924
5,759,395
7,687,945
485,576
0
485,576
257,127
1,800,556
1,563,213
5,468,837
0
5,785,772
0
4,645,167

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,385,449
0
3,355,748
0

2,768,437
0
2,140,736
0

2,654,237
0
3,297,890
0

2,600,583
0
2,487,882
0

82,783,924
82,783,924
0
76,687,113
71,894,694
4,792,419
6,096,811
415,046
0
415,046
210,845
2,098,138
1,912,680
3,717,099
0
3,876,467
0
15,017,419

41,906,005
0
2,029,701
3,037,544

39,235,426
0
627,701
979,062

37,323,423
0
(643,653)
3,069,062

35,762,769
0
112,701
14,305,840

40,937,532
11,342,483
(159,368)
15,916,815

55,637,590
25,454,733
(316,935)
33,854,922

1.58
10.10
8.06
0.38
2.47
60.04
0.47
10.94
17.56
12.70
1.60
14.32

1.47
5.10
9.50
0.71
2.38
85.90
0.45
6.14
8.98
6.82
1.29
16.35

1.13
2.86
16.01
1.10
1.71
91.60
0.55
6.00
8.99
6.93
0.80
19.34

0.95
2.79
35.31
1.12
1.07
93.26
1.20
4.83
9.04
7.12
1.05
45.03

0.94
2.53
56.33
0.90
1.00
92.64
2.10
4.81
12.81
9.69
0.96
32.58
2.94
4.49
0.24
3.21
25.56

0.96
1.81
66.92
0.79
0.99
92.29
3.18
5.02
18.32
11.33
0.95
63.91
4.50
5.49
0.05
4.73
26.03

194,244

280,729

252,919

288,770

1,808,242

1,577,496

1,417,499

1,965,971

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

415

30.07
0.00
4.65
27.37

8.95
0.00
2.39
25.91

5.35
0.00
2.29
25.11

3.69
0.00
2.25
24.60

INFORMATION, COMM. AND TRANSPORT SERVICES

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

157,578,182

204,377,810

224,340,744

286,143,105

300,737,136
147,102,289
17,174,291
10,475,893

360,922,412
191,909,682
17,548,525
12,468,128

397,263,273
210,744,172
21,330,151
13,596,572

450,551,828
272,151,792
26,391,984
13,991,313

99,654,184
20,661,591
103,595
22,529,682
24,802,777
31,556,539
61,852,453
11,231,600
50,620,853
44,155,779

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

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

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

16,552,976

15,395,920

12,715,394

16,796,573

27,602,803
151,224,134
84,046,807
83,866,807
180,000
67,177,327

52,751,452
150,708,675
86,760,141
86,580,141
180,000
63,948,534

67,269,774
138,772,668
91,991,094
90,471,099
1,519,995
46,781,574

96,873,303
97,985,319
92,622,082
92,442,082
180,000
5,363,237

175,019,483
175,019,483
0
95,098,674

173,115,661
171,446,440
1,669,221
109,658,732

189,668,819
187,797,649
1,871,170
127,060,573

207,058,349
206,093,346
965,003
152,596,362

79,920,809
40,740,376

63,456,929
41,363,114

62,608,246
45,149,053

54,461,987
89,866,684

(Thousand Rupees)
2009
2010
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
51,873,072
7,625,250
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
(4,732,579)
39,879,798

389,520,508
25,705,519
585,180,203
320,310,801
33,434,626
17,242,971
2,004,657
24,256,560
104,820,583
21,608,425
4,832,409
29,883,615
16,668,577
31,827,557
194,521,668
37,063,962
157,457,706
191,272,963
37,546,259
8,465,555
19,673,553
40,369,858
85,217,738
108,546,460
104,200,151
104,192,651
7,500
(17,723,404)
5,859,765
(23,583,169)
22,069,713
258,538,814
249,869,647
8,669,167
191,648,317
175,635,065
16,013,252
66,890,497
50,522,812
14,109,481
36,413,331
39,362,802
16,683,776
13,394,601
10,617,803
6,120,169
9,561,304
254,306
59,760,077

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

40,979,137
15,111,627
592,980
29,655

21,632,383
11,128,888
308,368
220,940

15,614,323
957,969
10,437,299
89,769

(40,395,933)
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
42,516,320

195,379,913
16,552,976
25,274,530
27,784,576

218,856,047
15,395,920
10,195,127
43,547,806

218,757,836
12,715,394
4,219,055
50,192,663

211,655,195
16,796,573
(42,484,911)
66,959,104

350,680,966
74,888,505
(5,094,915)
102,152,896

299,819,423
57,219,812
(5,063,670)
94,283,774

1.10
2.24
12.87
0.68
1.61
54.34
0.70
16.14
30.07
22.39
43.62
1,689.46

0.84
3.81
14.35
0.55
1.15
63.34
1.08
7.59
14.33
10.44
34.06
3,063.07

0.70
5.48
11.30
0.57
0.95
66.99
1.39
4.84
10.79
7.14
1.40
22.56

0.38
6.18
10.86
0.53
0.58
73.70
2.97
-11.20
-34.12
-18.77
-52.68
685.49

0.51
6.62
11.98
0.47
0.69
71.40
2.76
1.76
6.78
2.85
0.39
47.30
1.66
3.24
0.11
0.33
14.22

0.35
6.45
11.56
0.52
0.54
74.13
3.55
2.09
8.59
3.26
0.47
53.50
1.79
4.11
0.15
0.43
10.42

40,740,376

41,363,114

45,149,053

89,866,684

3,927,223

6,591,797

10,387,097

12,787,621

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

23.41
0.00
3.08
18.03

12.50
0.00
1.21
17.41

8.23
0.00
1.62
15.34

-19.51
0.00
-4.51
10.60

Growth with Composition of Assets & Liabilites

Billion Rs

450
400
350
300
250
200
150
100
50
0

10%
6.3%

5%
0%

-4.5%

-5%

-5.6%

-10%

-12.6%
-22.4%

-15%
-20%

-25%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

Growth
140%

300
115.3%

250

120%

Billion Rs

100%

200

80%

150

60%
40%

100

20%

8.2%

50

0%

-1.2%

-20%
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
11.48

12

4.34

2.84
1.43

2.32

Percentage

Percentage

5.47

2010

Return on
Capital
Emloyed

2009

2010
3.47

2.70

2.74

2
1

Return on
Return on
Assets
Equity

5.46

2009

10

Net Profit Before Tax

0.77
0.17

0.69 0.56

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

Eye Television 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

2005

2006

2007

2008

130,539

137,954

173,856

185,498

128,571
117,154
11,501
13,385

154,288
126,922
20,380
11,032

218,117
164,689
26,061
9,167

260,051
177,320
29,304
8,178

128,107
29,039
341
17,098
0
81,629
45,528
0
45,528
0

391,476
12,065
59
160,465
0
218,887
98,200
7,387
90,813
20,358

521,213
31,248
101,787
245,087
0
143,091
110,084
13,839
96,245
78,005

839,972
63,996
826
471,963
0
303,187
240,377
38,619
201,758
52,807

0
213,118
350,000
350,000
0
(136,882)

20,358
410,872
500,000
500,000
0
(89,128)

78,005
506,980
500,000
500,000
0
6,980

52,807
732,286
500,000
500,000
0
232,286

20,966
20,966
0
94,950

519,982
519,982
0
439,477

1,154,377
1,154,377
0
863,689

1,453,947
1,453,947
0
864,559

(73,984)
69,353

80,505
90,558

290,688
139,106

589,388
228,958

(Thousand Rupees)
2009
2010
420,398
6,348
323,401
211,094
29,803
8,092
0
194,864
778,540
63,856
835
408,662
0
305,187
410,635
152,431
258,204
62,584
32,667
0
0
19,554
10,363
725,719
500,000
500,000
0
225,719
0
225,719
0

489,762
2,277
354,098
206,265
45,113
10,294
0
270,926
996,774
137,357
1,240
429,946
0
428,231
607,433
241,371
366,062
45,248
14,000
0
0
27,716
3,532
833,855
500,000
500,000
0
333,855
0
333,855
0
1,284,273
1,284,273

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(142,217)
100
0
0

(8,437)
1,602
0
0

146,238
3,111
0
0

355,075
117,932
0
0

1,116,856
1,116,856
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
188,674

213,118
0
(142,317)
0

431,230
0
(10,039)
7,387

584,985
0
143,127
13,839

785,093
0
237,143
38,619

788,303
32,667
235,414
185,098

879,103
14,000
122,837
255,371

1.01
1.15
81.55
0.08
2.81
452.88
0.21
-54.99
-66.73
-66.73

1.76
0.10
30.86
0.98
3.99
84.52
0.29
-2.14
-2.70
-2.62

2.51
0.70
21.23
1.66
4.73
74.82
0.37
23.89
31.87
28.78

2.23
0.77
32.46
1.42
3.49
59.46
0.40
41.27
57.30
51.83

1.15
3.34
36.59
0.93
1.90
41.15
0.65
32.69
49.87
46.21

0.93
2.19
33.48
0.86
1.64
53.68
0.78
23.37
40.24
37.64
2.54
1,035.70
13.08
24.44
0.21
4.06
16.68

69,353

90,558

139,106

228,958

241

538

8,028

11,190

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
137,139

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

420

61.48

8,813.25

11.34

1,760.23

1,337.55
11.53
32.55
0.40
4.71
14.51

-678.32
0.00
-4.07
6.09

-1.62
0.00
-0.20
8.22

12.67
0.00
2.86
10.14

24.42
0.00
4.74
14.65

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,673,848
197,943
1,324,678
1,133,914
855,001
153,778
0
188,213
529,520
9,178
95,356
189,216
75,000
160,770
355,973
77,607
278,366
408,705
46,563
293,754
0
36,544
31,844
1,438,690
1,341,383
1,341,383
0
97,307
76,223
21,084
0

1,643,125
90,345
1,550,921
1,234,005
129,397
153,174
0
165,601
379,127
18,461
24,156
196,072
0
140,438
220,205
51,263
168,942
436,985
0
391,629
0
45,230
126
1,365,062
1,341,383
1,341,383
0
23,679
76,223
(52,544)
0

504,415
504,415
0
324,819
92,784
232,035
179,596
187,098
7,130
179,968
145,062
38,145
99,424
(23,759)
735
0
0
(53,056)

498,588
498,588
0
374,137
88,932
285,205
124,451
193,106
12,242
180,864
148,488
42,452
39,222
(108,304)
2,493
0
0
219,364

1,847,395
46,563
(24,494)
124,170

1,802,047
0
(110,797)
51,263

0.77
7.56
37.51
0.23
1.49
64.40
0.53
-1.08
-1.65
-1.29

0.97
8.51
39.33
0.25
1.72
75.04
0.48
-5.13
-7.73
-5.94

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

421

5.29
0.76
-4.71
-0.07
-0.18
10.73

20.64
-1.76
-21.72
0.33
-0.83
10.18

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

276,614

375,990

561,990

973,229

281,337
230,006
22,969
46,608

396,703
307,788
32,044
68,202

468,874
364,151
31,804
197,839

720,030
537,541
72,841
435,688

424,401
18,889
0
130,835
45,000
229,677
79,075
25,101
53,974
1,928

678,624
127,276
0
150,765
15,188
385,395
105,577
45,462
60,115
7,918

1,031,106
67,529
499,012
319,109
15,188
130,268
286,904
137,273
149,631
13,031

1,504,269
127,933
0
432,861
15,188
928,287
460,360
214,759
245,601
18,092

1,928
620,012
255,000
255,000
0
365,012

7,918
941,119
354,820
354,820
0
586,299

13,031
1,293,161
408,043
408,043
0
885,118

18,092
1,999,046
597,375
597,375
0
1,401,671

433,475
433,475
0
152,994

600,152
109,969
490,183
291,734

1,082,420
174,690
907,730
465,783

1,556,158
1,556,158
0
613,493

280,481
77,962

308,418
157,141

616,637
199,326

942,665
285,140

(Thousand Rupees)
2009
2010
1,468,015
61,571
705,042
519,424
88,071
871,832
15,188
0
1,448,651
227,992
0
623,499
0
597,160
402,704
200,000
202,704
135,044
87,500
34,520
0
0
13,024
2,378,918
779,102
779,102
0
1,599,816
273,029
1,326,787
0

2,173,344
165,433
727,637
496,824
72,534
1,493,810
15,188
2,089
1,806,808
145,046
0
859,403
0
802,359
571,825
200,000
371,825
71,119
62,500
0
0
0
8,619
3,337,208
779,102
779,102
0
2,558,106
273,029
2,285,077
0
1,845,022
122,860
1,722,162
529,631
529,631
0
1,315,391
364,438
96,780
267,658
84,086
24,796
23,151
954,361
3,302
97,388
0
734,666

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

201,353
776
0
29,655

169,218
1,592
0
0

429,488
4,068
0
89,769

776,488
6,915
59,737
238,950

1,081,395
154,449
926,946
628,826
628,826
0
452,569
366,607
85,054
281,553
69,518
19,526
18,389
300,767
6,656
0
0
423,431

621,940
0
200,577
25,101

949,037
0
167,626
45,462

1,306,192
0
425,420
137,273

2,017,138
0
709,836
214,759

2,513,962
87,500
294,111
287,500

3,408,327
62,500
853,671
262,500

2.46
0.92
30.18
0.62
5.37
35.29
0.13
28.72
32.48
32.37

2.78
0.96
25.12
0.57
6.43
48.61
0.12
19.28
21.68
21.54

1.40
0.88
29.48
0.68
3.59
43.03
0.23
32.44
38.45
38.09

2.11
1.81
57.66
0.37
3.60
58.15
0.23
11.15
13.74
13.28

1.25
0.92
27.82
0.63
3.27
39.42
0.24
38.15
47.17
46.73
12.88

1.76
1.34
46.58
0.46
3.16
28.71
0.19
27.68
33.39
32.23
9.77

2.17

46.45
0.00
7.87
24.31

28.20
0.00
4.72
26.52

39.68
0.00
10.43
31.69

49.90
0.00
12.88
33.46

77,962

157,141

199,326

285,140

3,977

5,767

9,476

14,260

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

422

17.36
27.81
0.79
3.77
30.53

42.22
51.73
1.14
12.21
42.83

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

210,305

239,015

286,318

357,553

339,582
210,305
24,354
0

395,238
239,015
28,053
0

493,512
286,318
51,042
0

614,942
357,553
69,996
0

319,605
191,059
0
54,458
0
74,088
271,448
0
271,448
0

351,365
45,598
0
75,210
148,502
82,055
258,728
0
258,728
0

390,527
63,498
0
97,023
129,747
100,259
275,069
0
275,069
0

475,435
82,415
0
172,459
96,421
124,140
356,485
0
356,485
0

0
258,462
71,280
71,280
0
187,182

0
331,652
71,280
71,280
0
260,372

0
401,776
78,408
78,408
0
323,368

0
476,503
78,408
78,408
0
398,095

417,453
417,453
0
184,774

513,770
510,963
2,807
240,991

523,473
523,473
0
301,001

690,469
688,906
1,563
420,771

232,679
122,707

272,779
123,354

222,472
85,717

269,698
126,455

(Thousand Rupees)
2009
2010
405,267
0
690,083
405,267
75,594
0
0
0
595,909
127,313
0
101,599
234,020
132,977
340,265
0
340,265
69,637
0
0
0
13,525
56,112
591,274
78,408
78,408
0
512,866
12,042
500,824
0

397,197
0
753,865
397,197
75,350
0
0
0
683,000
151,516
0
85,151
207,620
238,713
322,734
0
322,734
69,822
0
0
0
15,958
53,864
687,641
78,408
78,408
0
609,233
12,042
597,191
0
1,058,618
1,058,618
0
752,010
200,229
551,781
306,608
79,513
1,150
78,363
161,010
722
0
249,542
91,980
62,726
0
119,766

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

118,502
36,803
14,256
0

164,037
48,834
0
0

157,947
52,464
39,204
0

175,279
43,000
31,363
0

1,042,099
1,042,099
0
748,259
208,523
539,736
293,840
66,198
1,349
64,849
136,596
583
0
248,947
88,699
54,886
0
342,817

258,462
0
67,443
0

331,652
0
115,203
0

401,776
0
66,279
0

476,503
0
100,916
0

660,911
0
105,362
0

757,463
0
94,836
0

0.90
0.11
13.05
0.79
1.18
44.26
1.05
26.44
52.89
52.89
5.73

1.04
0.06
14.64
0.87
1.36
46.91
0.78
29.28
55.60
55.60

1.06
0.05
18.53
0.77
1.42
57.50
0.68
24.93
43.07
43.07
2.69

0.99
0.04
24.98
0.83
1.33
60.94
0.75
23.22
39.91
39.91
4.22

1.36
0.06
9.75
1.04
1.75
71.80
0.69
27.15
46.63
43.77
2.92

1.38
0.07
8.04
0.98
2.12
71.04
0.57
23.98
39.02
35.19
2.51

30.17
0.00
13.45
51.24

25.39
0.00
16.87
60.77

23.89
0.84
20.44
75.41

23.57
0.31
20.10
87.70

122,707

123,354

85,717

126,455

480

316

265

300

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

423

28.39
0.00
11.46
36.26

31.93
0.00
16.16
46.53

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,743,847

2,444,995

3,042,511

4,004,667

1,865,739
1,669,383
134,728
74,464

2,721,046
2,384,036
141,869
60,959

3,552,126
3,004,720
212,856
37,791

4,762,019
3,990,261
240,331
14,406

796,772
521,461
0
124,345
0
150,966
422,346
130,069
292,277
910,834

1,216,658
756,442
0
168,309
1,276
290,631
702,543
171,575
530,968
1,453,221

1,349,662
380,540
168,465
137,846
461,004
201,807
917,730
227,768
689,962
1,665,905

1,749,615
390,458
0
249,275
706,580
403,302
1,393,366
440,845
952,521
2,041,118

910,834
1,207,439
938,008
758,008
180,000
269,431

1,453,221
1,505,889
938,008
758,008
180,000
567,881

1,665,905
1,808,538
938,008
758,008
180,000
870,530

2,041,118
2,319,798
1,089,610
909,610
180,000
1,230,188

1,342,677
1,342,677
0
806,317

1,707,760
1,707,760
0
1,067,086

2,218,850
2,218,850
0
1,410,785

3,194,529
3,194,529
0
1,868,933

536,360
128,026

640,674
143,836

808,065
175,664

1,325,596
471,765

(Thousand Rupees)
2009
2010
5,840,334
1,031,764
5,769,763
4,724,746
281,039
251
0
83,573
1,882,786
491,188
253,915
388,046
559,847
189,790
1,097,705
0
1,097,705
3,660,811
2,656,028
0
0
0
1,004,783
2,964,604
1,089,610
1,089,610
0
1,874,994
0
1,874,994
0

5,949,032
454,206
6,849,306
5,346,132
465,250
64,989
0
83,705
2,366,106
1,023,176
301,086
237,352
592,372
212,120
1,152,307
0
1,152,307
3,444,855
2,298,040
0
0
0
1,146,815
3,717,976
1,271,532
1,271,532
0
2,446,444
0
2,446,444
0
5,125,117
5,125,117
0
2,942,067
0
2,942,067
2,183,050
573,040
4,201
568,839
422,198
185,857
185,401
1,520,960
377,000
0
254,306
1,812,423
7,162,831
2,298,040
1,143,960
2,298,040

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

338,985
6,500
3,358
0

450,580
8,600
18,000
0

520,118
10,931
0
0

740,994
141,264
290,883
0

4,564,256
4,564,256
0
2,494,840
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
1,712,714

2,118,273
0
329,127
130,069

2,959,110
0
423,980
171,575

3,474,443
0
509,187
227,768

4,360,916
0
308,847
440,845

6,625,415
2,656,028
718,138
2,656,028

1.53
5.47
9.26
0.53
1.89
60.05
1.10
15.15
35.87
18.02
99.01

1.32
5.21
9.86
0.47
1.73
62.48
1.43
14.53
33.21
17.75
24.55

1.07
8.09
6.21
0.51
1.47
63.58
1.43
12.92
31.39
16.17

0.97
6.27
7.80
0.56
1.26
58.50
1.48
14.61
35.90
18.91
2.06

13.17

25.25
0.00
4.39
15.93

26.38
0.00
5.83
19.87

23.44
0.00
6.72
23.86

23.20
0.00
6.59
25.50

1.31
4.58
8.50
0.59
1.72
54.66
1.61
17.43
44.45
21.38
2.65
17.98
6.70
25.73
0.36
10.59
27.21

128,026

143,836

175,664

471,765

73,419

88,963

179,493

200,369

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

424

1.61
3.63
4.63
0.62
2.05
57.40
1.24
18.97
45.52
22.06

17.02
9.20
29.68
0.39
9.00
29.24

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

51,376,335

79,062,437

95,600,626

115,123,491

79,884,873
51,263,914
4,181,035
112,421

109,507,987
78,964,162
3,449,601
98,275

130,110,253
95,497,151
5,617,195
103,475

158,440,614
115,010,337
8,015,110
113,154

21,521,168
2,614,691
0
5,222,534
687,560
12,996,383
21,777,027
5,645,411
16,131,616
38,099,178

27,829,332
5,459,924
0
6,129,673
4,949,592
11,290,143
44,102,589
23,595,988
20,506,601
62,650,892

23,172,948
1,975,459
3,251,940
5,012,778
4,572,322
8,360,449
55,420,255
31,016,062
24,404,193
74,284,837

24,546,376
789,555
0
5,757,849
4,540,147
13,458,825
76,073,376
43,105,449
32,967,927
96,926,214

14,003,940

13,246,970

10,723,738

12,430,143

24,095,238
13,021,298
17,980,659
17,980,659
0
(4,959,361)

49,403,922
138,288
19,473,631
19,473,631
0
(19,335,343)

63,561,099
(10,931,518)
20,878,074
20,878,074
0
(31,809,592)

84,496,071
(33,329,723)
21,423,014
21,423,014
0
(54,752,737)

64,074,470
64,074,470
0
58,940,836

76,435,189
76,435,189
0
74,723,265

70,480,734
70,480,734
0
66,221,976

88,863,258
88,863,258
0
85,275,811

5,133,634
8,134,745

1,711,924
10,205,552

4,258,758
11,193,267

3,587,447
37,054,494

(Thousand Rupees)
2009
2010
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
(718,080)
23,280,356
23,272,856
7,500
(62,865,633)
3,473,591
(66,339,224)
38,867,197

159,238,665
1,129,146
190,907,308
145,040,401
7,278,499
2,856,378
141,144
10,071,596
22,912,156
5,927,994
3,873,673
8,698,030
847,453
3,565,006
91,140,144
22,665,109
68,475,035
125,318,181
21,437,736
8,000,000
17,457,280
24,281,277
54,141,888
(34,307,504)
25,774,948
25,767,448
7,500
(81,141,877)
3,407,928
(84,549,805)
21,059,425
117,336,176
117,336,176
0
98,625,812
98,625,812
0
18,710,364
18,971,530
6,254,267
12,717,263
14,958,414
9,622,515
8,830,856
(7,594,505)
1,512,046
0
0
4,186,585

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(4,513,236)
320,372
575,366
0

(12,985,271)
382,743
0
0

(13,070,921)
352,404
0
0

(39,987,775)
0
0
0

103,250,358
103,250,358
0
85,023,610
85,023,610
0
18,226,748
20,967,308
6,124,229
14,843,079
14,206,511
9,604,550
9,027,091
(11,784,791)
711,974
0
0
(1,910,730)

51,120,476
14,003,940
(5,408,974)
19,649,351

62,789,180
13,246,970
(13,368,014)
36,842,958

63,353,319
10,723,738
(13,423,325)
41,739,800

63,596,491
12,430,143
(39,987,775)
55,535,592

139,170,175
52,892,698
(12,496,765)
76,874,858

91,010,677
38,895,016
(9,106,551)
61,560,125

0.39
4.35
8.15
0.88
0.99
91.99
4.60
-5.96
-31.29
-8.25
-8.40

0.38
6.90
8.02
0.72
0.63
97.76
771.96
-14.44
-197.35
-22.80

0.21
10.12
7.11
0.59
0.42
93.96
-11.87
-11.58
242.21
-20.72

0.15
9.40
6.48
0.64
0.32
95.96
-5.19
-30.95
180.69
-63.00

0.19
9.30
8.07
0.49
0.30
82.35
-292.32
-6.76
69.22
-11.62

0.17
8.20
7.41
0.64
0.25
84.05
-6.31
-3.88
43.37
-6.60

21.67

-7.04
0.00
-2.69
7.24

-16.99
0.00
-6.86
0.07

-18.55
0.00
-6.43
-5.24

-45.00
0.00
-18.67
-15.56

8,134,745

10,205,552

11,193,267

37,054,494

2,787,399

5,275,360

7,135,845

8,351,648

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

425

25.70
-0.31
-11.41
-0.01
-5.37
-0.31

30.29
0.14
-6.47
0.02
-3.53
-13.31

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

638,714

7,439,170

8,041,024

1,010,823

731,420
627,162
44,463
11,552

8,882,423
7,430,919
1,104,188
8,251

8,758,583
8,036,074
1,257,675
4,950

1,102,632
1,009,174
93,458
1,649

14,295,061
1,101,579
0
103,700
11,588,447
1,501,335
3,754,303
256,071
3,498,232
725,536

6,160,521
4,327,054
0
209,936
704,943
918,588
1,673,151
258,557
1,414,594
474,021

8,350,578
907,906
444,341
557,290
6,040,632
400,409
1,898,097
258,771
1,639,326
215,643

12,603,513
3,394,350
0
236,312
5,681,779
3,291,072
7,443,597
245,607
7,197,990
0

725,536
10,453,936
1,200,576
1,200,576
0
9,253,360

474,021
11,452,519
1,320,634
1,320,634
0
10,131,885

215,643
14,277,862
1,320,634
1,320,634
0
12,957,228

0
6,170,739
1,320,634
1,320,634
0
4,850,105

7,950,981
7,950,981
0
4,995,063

7,924,614
7,924,614
0
6,255,047

9,089,124
9,089,124
0
6,495,702

10,753,528
10,753,528
0
7,277,061

2,955,918
778,714

1,669,567
529,321

2,593,422
611,539

3,476,467
629,292

(Thousand Rupees)
2009
2010
8,729,638
347,599
912,445
801,558
41,567
0
1,581,131
5,999,350
8,070,341
2,217,680
22,622
369,276
5,108,614
352,149
9,763,834
0
9,763,834
219,894
0
0
58,252
0
161,642
6,816,251
1,320,634
1,320,634
0
4,814,590
126,843
4,687,747
681,027

15,694,447
668,762
916,762
767,609
38,627
0
1,584,670
12,673,406
2,826,872
1,307,961
22,788
193,195
1,207,224
95,704
11,096,488
0
11,096,488
291,288
0
0
50,194
0
241,094
7,133,543
1,320,634
1,320,634
0
5,140,981
126,843
5,014,138
671,928
2,068,622
2,068,622
0
965,900
0
965,900
1,102,722
778,976
4,871
774,105
352,287
19,161
2,877
1,138,962
422,073
396,190
0
5,699,609

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,898,541
55,292
0
0

1,391,106
328,140
240,115
120,058

2,848,056
487,935
198,095
0

3,487,161
458,862
409,397
0

3,491,783
3,491,783
0
1,932,155
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
1,610,825

11,179,472
0
2,843,249
256,071

11,926,540
0
822,851
258,557

14,493,505
0
2,162,026
258,771

6,170,739
0
2,618,902
245,607

7,036,145
58,252
860,950
58,252

7,424,831
50,194
320,699
50,194

3.41
0.82
1.30
0.53
3.81
62.82
0.43
25.89
39.78
35.66

3.13
0.95
2.65
0.58
3.68
78.93
0.19
9.75
12.70
12.04
4.43

3.95
0.85
6.13
0.55
4.40
71.47
0.15
18.99
22.14
21.56
11.91
20.46

1.25
1.63
2.20
0.79
1.69
67.67
1.21
23.24
34.11
33.75
7.40

0.79
1.39
10.58
0.21
0.83
55.33
1.46
11.17
26.15
25.72
5.35
154.35
648.71
48.64
0.16
8.02
51.61

0.24
0.93
9.34
0.11
0.25
46.69
1.60
6.45
16.33
15.75
1.81
90.78
396.89
55.06
0.50
5.43
54.02

778,714

529,321

611,539

629,292

65,048

75,647

77,353

174,987

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

36.46
0.00
23.68
87.07

426

17.55
0.00
8.05
86.72

31.33
0.00
17.87
108.11

32.43
0.00
22.93
46.73

Financial Statement Analysis of Non Financial Sector 2010

Pakistan Telecommunication Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

87,468,140

93,090,976

90,032,106

138,405,485

206,006,097
83,195,358
12,169,139
4,272,782

223,338,718
89,042,100
11,655,477
4,048,876

232,722,125
86,801,364
12,345,628
3,230,742

263,052,209
134,650,828
16,142,494
3,754,657

48,416,468
12,280,761
0
15,515,958
6,909,874
13,709,875
24,881,825
2,956,760
21,925,065
0

59,149,046
22,598,785
0
16,059,983
7,118,002
13,372,276
35,139,623
0
35,139,623
0

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

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
111,002,783
51,000,000
51,000,000
0
60,002,783

0
117,100,399
51,000,000
51,000,000
0
66,100,399

0
110,913,264
51,000,000
51,000,000
0
59,913,264

9,100,949
101,980,419
51,000,000
51,000,000
0
50,980,419

84,913,513
84,913,513
0
18,734,462

72,684,431
72,684,431
0
17,370,056

86,252,033
86,252,033
0
37,277,838

80,835,886
80,835,886
0
39,727,012

66,179,051
28,034,459

55,314,375
27,916,857

48,974,195
26,851,475

41,108,874
44,666,085

(Thousand Rupees)
2009
2010
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
62,790,693
47,096,259
9,000,000
0
0
14,252,785
23,843,474
105,252,934
51,000,000
51,000,000
0
54,252,934
0
54,252,934
0

156,245,937
17,959,087
335,810,870
134,123,749
21,162,250
3,716,981
108,910
337,210
51,824,385
10,072,560
385,199
10,385,233
13,493,865
17,487,528
47,128,440
0
47,128,440
52,867,124
13,000,000
0
0
15,676,877
24,190,247
108,074,758
51,000,000
51,000,000
0
57,074,758
0
57,074,758
0
98,905,765
91,958,760
6,947,005
62,212,774
62,212,774
0
36,692,991
20,041,995
7,424,363
12,617,632
12,566,801
3,293,496
1,602,130
18,634,511
3,451,037
8,925,000
0
31,179,508
160,941,882
13,000,000
6,258,474
13,000,000

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

40,761,955
14,297,657
0
0

30,974,048
10,327,852
0
0

25,722,225
0
10,200,000
0

(2,502,766)
461,021
0
0

92,720,381
86,613,483
6,106,898
55,154,403
55,154,403
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
37,630,326

111,002,783
0
26,464,298
2,956,760

117,100,399
0
20,646,196
0

110,913,264
0
15,522,225
2,145,948

111,081,368
0
(2,963,787)
3,807,390

152,349,193
9,000,000
6,008,377
9,000,000

1.39
0.74
18.27
0.62
1.95
22.06
0.22
28.40
39.84
39.06

1.30
0.46
22.10
0.48
1.68
23.90
0.30
21.50
27.16
27.16

0.47
3.29
15.60
0.42
0.66
49.15
0.87
-1.46
-2.35
-2.25

1.24
2.18
13.23
0.56
1.50
43.22
0.38
16.86
22.56
22.56
2.52
22.23

48.00
0.00
5.19
21.77

42.61
0.00
4.05
22.96

28,034,459

27,916,857

26,851,475

44,666,085

632,411

336,401

1,880,029

2,661,347

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

427

423.48

29.82
0.00
5.04
21.75

-3.10
0.00
-0.58
20.00

0.85
4.82
11.73
0.43
1.05
59.48
1.04
8.24
16.15
12.71
1.79
197.00
13.69
18.05
0.34
2.68
20.64

0.72
3.33
10.50
0.48
1.10
62.90
0.93
8.81
17.47
11.90
1.70
256.77
12.63
18.84
0.31
2.98
21.19

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

349,176

270,049

225,836

194,088

336,556
292,544
35,627
56,632

301,609
221,860
38,606
48,189

301,134
189,314
32,783
36,522

302,692
162,785
28,134
31,303

239,178
30,866
59,335
37,741
14,996
96,240
155,410
96,364
59,046
74,736

109,718
1,253
15,573
32,340
0
60,552
115,729
58,612
57,117
21,306

45,754
1,939
5,914
16,247
0
21,654
181,148
66,205
114,943
15,222

29,727
1,022
4,019
6,888
0
17,798
221,100
48,794
172,306
8,424

74,736
358,208
499,755
499,755
0
(141,547)

21,306
242,732
499,755
499,755
0
(257,023)

15,222
75,220
499,755
499,755
0
(424,535)

8,424
(5,709)
499,755
499,755
0
(505,464)

235,734
235,734
0
194,315

95,585
95,585
0
89,829

50,113
50,113
0
50,096

55,367
55,367
0
76,343

41,419
126,167

5,756
115,682

17
114,007

(20,976)
30,962

(Thousand Rupees)
2009
2010
170,735
3,891
299,853
136,055
20,487
26,402
4,387
0
13,412
1,150
4,852
1,028
0
6,382
180,515
4,627
175,888
28,869
27,000
0
0
1,869
0
(25,237)
499,775
499,775
0
(525,012)
27,643
(552,655)
0

145,317
3,891
299,087
115,540
23,990
21,502
4,384
0
11,620
564
2,035
1,798
0
7,223
143,620
0
143,620
80,029
76,197
0
0
3,832
0
(66,712)
499,775
499,775
0
(566,487)
32,703
(599,190)
0
53,736
53,736
0
63,373
13,838
49,535
(9,637)
26,702
18,058
8,644
17,394
7,057
36
(41,197)
14,419
0
0
(3,849)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(101,039)
1,119
0
0

(112,648)
501
0
0

(167,225)
286
0
0

(80,642)
286
0
0

58,796
58,796
0
65,429
14,163
51,266
(6,633)
26,108
16,381
9,727
16,825
344
242
(19,547)
6,842
0
0
15,361

432,944
0
(102,158)
96,364

264,038
0
(113,149)
58,612

90,442
0
(167,511)
66,205

2,715
0
(80,928)
48,794

3,632
27,000
(26,389)
31,627

13,317
76,197
(55,616)
76,197

0.54
7.32
16.01
0.40
1.54
82.43
0.64
-16.29
-23.46
-20.52

0.29
14.51
33.83
0.25
0.95
93.98
0.56
-23.27
-37.49
-32.32

0.10
121.04
32.42
0.18
0.25
99.97
2.61
-51.35
-105.19
-94.35

0.04
55.15
12.44
0.25
0.13
137.89
-40.20
-32.56
-232.03
-173.13

0.01
0.59
1.75
0.32
0.07
111.28
-8.30
-9.58
126.33
-615.94

0.02
13.13
3.35
0.34
0.08
117.93
-3.35
-24.16
89.61
-486.13

126,167

115,682

114,007

30,962

17,265

13,868

60,655

30,536

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

3.97

6.14

8.47

13.78

12.12
-79.77
-33.25
0.07
-0.53
-0.50

26.41
-1,143.36
-76.67
-0.02
-1.11
-1.33

-42.86
0.00
-2.04
7.17

-117.85
0.00
-2.26
4.86

-333.70
0.00
-3.35
1.51

-145.65
0.00
-1.62
-0.11

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

15,781

10,333

2,764,967

791

21,352
15,610
5,621
171

23,288
10,251
7,310
82

1,491,603
752,482
276,685
2,012,485

23,173
791
2,263
0

2,849,846
14,582
0
0
2,794,265
40,999
541,519
505,500
36,019
9,191

3,650,768
50,388
0
0
3,558,355
42,025
1,481,396
1,406,143
75,253
3,069

2,885,180
847,015
4,869
1,223,827
9,259
800,210
1,515,181
735,454
779,727
83,050

1,499,648
2,176
0
2,424
1,474,704
20,344
35,589
0
35,589
0

9,191
2,314,917
2,408,692
2,408,692
0
(93,775)

3,069
2,176,636
2,408,692
2,408,692
0
(232,056)

83,050
4,051,916
5,193,902
3,853,907
1,339,995
(1,141,986)

0
1,464,850
3,853,907
3,853,907
0
(2,389,057)

5,997,756
5,997,756
0
4,168,309

29,340
29,340
0
19,324

8,722,720
8,722,720
0
6,157,292

8,841,513
8,841,513
0
7,949,309

1,829,447
1,872,522

10,016
6,919

2,565,428
3,015,995

892,204
3,263,802

(Thousand Rupees)
2009
2010
3,694,825
12,255
2,622,996
996,265
359,558
2,610,075
0
76,230
2,561,674
321,112
10,550
1,773,993
0
456,019
5,497,622
973,618
4,524,004
624,025
84,661
296,976
0
7,669
234,719
134,852
3,853,907
3,853,907
0
(3,719,055)
1,037,607
(4,756,662)
0

2,257,231
52,904
2,492,618
639,769
364,466
1,397,167
60,461
106,930
3,399,636
542,563
12,388
1,662,413
0
1,182,272
6,092,883
1,024,789
5,068,094
420,207
139,824
73,926
0
8,791
197,666
(856,223)
3,853,907
3,853,907
0
(4,710,130)
959,211
(5,669,341)
0
10,655,725
10,655,725
0
8,741,600
60,877
8,680,723
1,914,125
3,433,756
0
3,433,756
8,438,697
229,713
220,642
(1,284,431)
26,043
0
0
(83,486)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(79,111)
16,498
0
0

(135,912)
0
0
0

(574,344)
20,716
0
0

(2,118,093)
4,124
0
0

10,378,260
10,378,260
0
8,672,789
79,445
8,593,344
1,705,471
3,416,532
0
3,416,532
8,535,029
258,844
191,522
(1,915,073)
11,930
3,854
0
(305,740)

2,324,108
0
(95,609)
505,500

2,179,705
0
(135,912)
1,406,143

4,134,966
0
(595,060)
735,454

1,464,850
0
(2,122,217)
0

758,877
84,661
(1,930,857)
1,058,279

(436,016)
139,824
(1,310,474)
1,164,613

5.19
1.22
0.00
2.09
5.26
69.50
0.24
-4.11
-5.38
-5.36

2.44
473.82
0.00
0.01
2.46
65.86
0.68
-4.16
-6.05
-6.04

1.37
1.95
14.03
1.54
1.90
70.59
0.39
-12.34
-18.44
-18.19

41.57
2.98
0.03
5.89
42.14
89.91
0.02
-59.24
-76.79
-75.65

0.36
2.16
15.60
1.88
0.56
82.04
-7.61
-21.56
356.11
-795.66

1,791.48

-1.32
0.00
-0.40
9.61

-463.23
0.00
-0.56
9.04

-6.58
0.00
-1.54
10.51

-23.96
0.00
-5.51
3.80

0.38
2.49
17.09
1.66
0.47
83.57
45.40
-49.38
-239.43
-172.24
-500.01
983.72
-9.00
-18.45
-0.05
-5.00
0.35

1,872,522

6,919

3,015,995

3,263,802

73,039

139,019

170,298

263,823

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

429

860.17
-4.82
-12.05
-0.01
-3.40
-2.22

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

7,463,992

7,813,223

7,820,628

8,408,998

4,816,789
4,085,911
236,032
3,378,081

5,757,483
4,564,313
468,398
3,248,910

6,417,148
4,601,312
610,302
3,219,316

6,293,185
3,824,829
664,504
4,584,169

4,044,873
2,569,446
22,772
89,966
340,537
1,022,152
4,999,886
1,022,289
3,977,597
2,794,447

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

1,783,820
130,191
13,130
203,538
0
1,436,961
4,056,412
665,830
3,390,582
2,305,130

1,987,030
35,436
10,220
325,894
409,722
1,205,758
5,854,183
937,405
4,916,778
1,805,099

2,400,000

2,099,041

1,648,801

1,128,960

394,447
3,714,532
3,000,000
3,000,000
0
714,532

169,833
3,671,226
3,000,000
3,000,000
0
671,226

656,329
3,242,906
3,000,000
3,000,000
0
242,906

676,139
2,736,746
3,000,000
3,000,000
0
(263,254)

2,591,496
2,591,496
0
1,761,086

3,034,189
3,034,189
0
2,412,725

2,265,329
2,265,329
0
2,258,703

2,848,937
2,848,937
0
2,801,068

830,410
446,658

621,464
510,378

6,626
565,822

47,869
752,900

(Thousand Rupees)
2009
2010
6,663,767
535,476
6,466,698
2,780,833
786,798
2,900,823
0
446,635
2,946,006
8,772
8,857
723,661
75,555
2,129,161
3,855,443
407,783
3,447,660
2,903,898
464,000
0
0
39,361
2,400,537
2,850,432
3,000,000
3,000,000
0
(149,568)
0
(149,568)
0

5,348,485
544,525
6,511,884
2,095,152
734,078
2,611,521
0
97,287
5,196,242
82,541
8,836
1,057,917
9,571
4,037,377
3,199,594
269,771
2,929,823
3,670,554
502,000
0
0
23,139
3,145,415
3,674,579
3,000,000
3,000,000
0
674,579
0
674,579
0
3,634,286
3,634,286
0
2,705,579
2,705,579
0
928,707
674,627
0
674,627
274,549
535,240
8,693
1,367,636
44,761
0
0
(1,045,010)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

432,098
187,758
0
0

(93,289)
12,802
0
0

(532,301)
10,738
0
0

(709,147)
26,622
0
0

4,406,184
4,406,184
0
2,944,401
2,944,401
0
1,461,783
761,312
0
761,312
339,008
594,935
6,701
176,730
2,998
3,000
0
1,004,752

6,508,979
2,400,000
244,340
3,422,289

5,940,100
2,099,041
(106,091)
3,034,230

5,548,036
1,648,801
(543,039)
2,314,631

4,541,845
1,128,960
(735,769)
2,066,365

5,754,330
464,000
170,732
871,783

7,345,133
502,000
1,322,875
771,771

0.60
4.31
3.47
0.23
0.81
67.96
2.10
5.85
16.68
10.25

0.44
13.82
5.48
0.27
0.65
79.52
2.07
-0.82
-2.53
-1.50

0.08
18.21
8.98
0.24
0.44
99.71
1.96
-5.10
-15.40
-9.27

0.13
16.79
11.44
0.27
0.34
98.32
2.80
-7.09
-23.72
-14.06

0.21
13.50
16.42
0.46
0.76
66.82
2.37
1.77
6.33
3.43
57.91
497.48
27.37
4.01
0.15
0.58
9.50

0.36
14.73
29.11
0.34
1.62
74.45
1.87
13.57
41.92
20.88

446,658

510,378

565,822

752,900

111,673

419,388

412,482

478,281

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

430

113.80

209.44

172.53

278.76

16.67
0.00
0.81
12.38

-3.07
0.00
-0.35
12.24

-23.50
0.00
-1.81
10.81

-24.89
0.00
-2.45
9.12

411.30
158.33
37.63
-0.15
4.41
12.25

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

18,290,717
3,513,632
15,510,200
14,062,017
941,294
336,907
0
378,161
7,983,764
397,192
158,864
3,720,786
0
3,706,922
10,607,753
1,466,165
9,141,588
10,899,317
6,155,733
0
0
48,592
4,694,992
4,767,411
2,087,373
2,087,373
0
2,680,038
179,500
2,500,538
0

21,566,135
3,883,565
20,114,318
17,053,114
1,630,824
310,843
0
318,613
8,783,416
2,014,726
8,091
4,060,687
0
2,699,912
24,408,286
12,411,659
11,996,627
1,218,962
0
0
0
60,059
1,158,903
4,722,303
6,174,746
6,174,746
0
(1,452,443)
206,999
(1,659,442)
0

16,184,766
16,184,766
0
11,029,489
11,029,489
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
321,128

8,608,482
8,608,482
0
6,445,974
6,445,974
0
2,162,508
3,488,542
20,486
3,468,056
984,910
1,951,237
1,766,193
(3,022,099)
11,404
0
0
1,914,579

15,666,728
6,155,733
1,636,602
7,621,898

5,941,265
0
(3,033,503)
12,411,659

0.39
3.51
22.99
0.62
0.75
68.15
4.51
6.40
35.25
10.73

0.25
22.67
47.17
0.28
0.36
74.88
5.43
-10.67
-63.69
-27.97

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

431

101.88
2.89
10.38
0.01
7.84
22.84

1,063.96
-0.71
-35.11
0.07
-4.91
7.65

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

4,527,312

11,697,499

14,200,689

15,888,289

2,155,162
2,114,292
39,090
2,413,020

7,384,099
6,860,685
501,142
4,836,814

10,738,499
9,496,190
726,340
4,704,499

12,988,982
10,879,966
891,769
5,008,323

1,444,305
591,928
436
300,367
0
551,574
2,484,250
159,712
2,324,538
750,825

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

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

3,496,659
849,040
90,868
900,712
702,408
953,631
3,415,568
390,323
3,025,245
3,607,173

49,909

342,855

3,237,470

750,825
2,736,542
2,750,000
2,750,000
0
(13,458)

1,194,270
11,299,755
6,539,658
6,539,658
0
4,760,097

871,490
12,054,406
7,520,607
7,520,607
0
4,533,799

369,703
12,362,207
8,605,716
8,605,716
0
3,756,491

677,854
677,854
0
607,833

5,033,763
5,033,763
0
3,351,207

4,678,913
4,678,913
0
2,996,702

4,814,024
4,814,024
0
3,160,996

70,021
92,199

1,682,556
1,090,851

1,682,211
1,093,458

1,653,028
1,253,154

(Thousand Rupees)
2009
2010
18,673,786
1,650,854
15,508,778
12,110,704
1,139,913
4,767,265
76,162
68,801
4,142,091
336,480
182,105
2,116,744
378,439
1,128,323
5,309,977
0
5,309,977
6,126,847
18,542
0
3,364,861
175,942
2,567,502
11,379,053
8,605,716
8,605,716
0
2,441,763
766,860
1,674,903
331,574

18,371,831
751,378
17,891,529
12,795,044
1,414,248
4,606,312
89,900
129,197
3,634,441
183,960
192,917
2,016,418
310,472
930,674
8,437,709
200,000
8,237,709
3,338,589
15,962
0
2,166,079
226,979
929,569
10,229,974
8,605,716
8,605,716
0
1,285,898
764,787
521,111
338,360
7,464,404
7,464,404
0
6,600,011
4,222,860
2,377,151
864,393
1,626,014
158,112
1,467,902
699,240
743,413
689,424
(1,511,453)
52,628
0
0
14,888,783

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(31,921)
0
0
0

1,182,220
0
0
0

710,995
334
0
0

43,446
22,590
0
0

8,408,275
8,408,275
0
7,036,603
5,266,850
1,769,753
1,371,672
1,356,317
109,314
1,247,003
626,012
523,025
371,842
(623,523)
22,573
0
0
1,535,818

3,487,367
0
(31,921)
159,712

12,543,934
49,909
1,182,220
1,045,878

13,268,751
342,855
710,661
1,619,634

15,969,380
3,237,470
20,856
3,627,793

17,505,900
3,383,403
(646,096)
3,383,403

13,568,563
2,182,041
(1,564,081)
2,382,041

0.36
3.65
44.31
0.11
0.58
89.67
1.18
-0.53
-1.17
-0.92

0.92
3.56
13.93
0.32
1.25
66.57
0.41
10.80
16.85
14.75

0.51
6.70
19.21
0.27
0.77
64.05
0.44
4.27
6.09
5.51

0.72
9.58
18.71
0.25
1.02
65.66
0.57
0.24
0.36
0.30

0.53
6.22
25.17
0.37
0.78
83.69
1.01
-2.96
-5.25
-3.73

0.30
9.96
27.01
0.34
0.43
88.42
1.15
-6.74
-13.99
-9.73

92,199

1,090,851

1,093,458

1,253,154

24,744

179,092

313,466

461,173

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

432

1,554.71

229.53

132.97

52.98

46.17
-0.68
-7.42
0.13
-0.75
13.22

38.69
-1.19
-20.25
1.26
-1.82
11.89

-4.71
0.00
-0.12
9.95

23.49
0.00
1.81
17.28

15.20
0.00
0.94
16.03

0.90
0.00
0.02
14.37

COKE & REFINED PETROLEUM PRODUCTS

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

40,160,442

43,353,483

51,533,745

62,476,965

69,368,030
39,913,123
4,176,019
247,319

75,019,518
43,025,889
4,413,841
327,594

86,763,890
51,184,295
4,549,586
349,450

106,336,739
62,141,118
5,285,961
335,847

133,653,621
33,721,223
36,491,532
26,813,094
9,790,237
26,837,535
92,270,019
9,409,833
82,860,186
899,021

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

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

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

535,698

321,396

107,094

899,021
80,645,023
14,305,328
14,305,328
0
66,339,695

5,581,525
100,346,646
15,205,041
15,204,887
154
85,141,605

1,199,892
121,730,812
15,478,346
15,478,346
0
106,252,466

906,164
152,728,210
18,176,971
18,176,971
0
134,551,239

593,119,302
580,602,916
12,516,386
541,326,236

855,252,005
833,677,688
21,574,317
789,803,474

934,605,000
909,238,404
25,366,596
873,628,110

1,192,132,434
1,152,916,905
39,215,529
1,101,005,662

51,793,066
14,263,909

65,448,531
16,175,865

60,976,890
17,369,070

91,126,772
23,604,031

(Thousand Rupees)
2009
2010
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
3,156,809
12,978,650
157,934,645
19,563,775
19,563,775
0
132,362,778
12,464,644
119,898,134
6,008,092

144,401,834
24,268,266
118,611,462
64,420,388
7,271,168
2,130,061
36,135,370
17,447,749
442,772,415
39,387,296
102,761,119
230,217,263
30,635,115
39,771,622
368,386,101
29,891,629
338,494,472
28,686,553
3,585,973
5,000,944
0
3,522,668
16,576,968
190,101,595
21,223,467
21,223,467
0
159,949,983
10,918,592
149,031,391
8,928,145
1,417,587,124
1,337,570,077
80,017,047
1,321,097,502
382,107,822
938,989,680
96,489,622
28,605,899
10,364,333
18,241,566
16,762,333
16,380,334
5,000,660
70,883,449
20,162,493
20,515,729
2,106,860
52,021,040

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

40,107,855
13,512,768
12,141,497
158,320

54,579,548
17,760,686
15,421,728
1,312,665

48,812,157
15,633,490
11,541,363
1,041,271

71,666,527
25,551,864
23,991,105
1,608,138

1,215,005,127
1,159,632,837
55,372,290
1,146,153,131
358,667,810
787,485,321
68,851,996
28,470,867
8,531,877
19,938,990
11,069,933
21,043,779
6,555,112
34,027,344
18,552,394
20,603,296
1,659,721
(6,220,935)

81,544,044
0
14,453,590
9,409,833

106,463,869
535,698
21,397,134
16,421,124

123,252,100
321,396
21,637,304
17,864,287

153,741,468
107,094
22,123,558
26,650,201

183,627,245
5,534,040
(5,128,346)
38,492,503

218,788,148
3,585,973
30,205,227
33,477,602

0.76
0.15
4.52
3.41
1.45
91.27
1.16
28.16
66.08
64.80
2.19
16.25

0.81
0.30
5.12
3.47
1.45
92.35
1.46
25.98
60.31
58.06
2.39
15.26

0.82
0.33
5.38
3.30
1.45
93.48
1.33
18.44
43.96
42.50
2.87
15.19

0.78
0.51
7.61
2.78
1.33
92.36
1.80
20.15
52.22
51.75
1.92
10.75

0.76
1.73
14.24
2.54
1.17
94.33
2.03
7.51
21.91
20.17
0.75
14.47
6.19
2.80
-0.02
7.91
80.73

0.82
1.16
16.24
2.41
1.20
93.19
2.09
13.31
40.73
35.23
2.47
13.79
15.17
5.00
0.13
23.90
89.57

14,263,909

16,175,865

17,369,070

23,604,031

915,321

2,524,122

3,071,668

6,127,018

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

435

6.76
0.00
18.59
56.37

6.38
0.00
24.22
66.00

5.22
0.00
21.44
78.65

6.01
0.00
25.37
84.02

Growth with Composition of Assets & Liabilites

500

30%

28.3%

25.2%

Billion Rs

400

25%

20.4% 20%

300

15%
200

11.7%

10%

8.7%
100

5%

0%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

Growth
120%

1600
108.3%

1400

100%

1200

80%

Billion Rs

1000
800

60%

600
400

200

40%

40.1%
16.7%

20%

0%
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
40.73

2009

2010

2009

25

23.9

2010

35.23
21.91
20.17
13.31

Percentage

20

Percentage

45
40
35
30
25
20
15
10
5
0

Net Profit Before Tax

15

5
5

Return on
Return on
Assets
Equity

7.91

10

7.51

Return on
Capital
Emloyed

2.09 2.8
1.17 1.2 2.03

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

335,202

520,948

601,326

922,621

433,584
335,202
32,118
0

673,037
520,948
55,785
0

816,437
601,326
63,428
0

1,212,247
922,621
77,187
0

2,112,713
1,267,074
110,076
277,118
90,849
367,596
1,434,784
0
1,434,784
0

6,063,168
2,280,904
74,220
2,502,476
353,257
852,311
4,538,425
0
4,538,425
0

8,382,441
4,066,809
341,702
2,502,998
202,025
1,268,907
5,529,470
0
5,529,470
0

14,590,715
6,117,891
299,092
5,825,869
1,039,450
1,308,413
9,977,487
0
9,977,487
0

0
1,013,131
400,000
400,000
0
613,131

0
2,045,691
400,000
400,000
0
1,645,691

0
3,454,297
400,000
400,000
0
3,054,297

0
5,535,849
480,000
480,000
0
5,055,849

11,217,026
11,217,026
0
10,785,983

46,223,802
46,223,802
0
44,411,947

49,965,900
49,965,900
0
47,920,929

60,130,125
60,130,125
0
57,381,724

431,043
164,845

1,811,855
342,168

2,044,971
409,649

2,748,401
556,036

(Thousand Rupees)
2009
2010
1,864,272
191,095
1,294,352
939,780
82,634
0
733,397
0
16,408,160
7,434,910
141,507
7,835,521
0
996,222
10,938,626
0
10,938,626
251,538
0
0
0
0
251,538
7,082,268
576,000
576,000
0
6,506,268
34,097
6,472,171
0

2,013,419
197,475
1,472,927
1,019,742
127,298
0
765,739
30,463
19,429,233
9,275,603
993,282
7,602,060
831,754
726,534
11,917,167
0
11,917,167
288,908
0
0
0
0
288,908
9,236,577
576,000
576,000
0
8,660,577
17,043
8,643,534
0
82,791,918
74,841,765
7,950,153
79,032,034
73,914,394
5,117,640
3,759,884
925,687
0
925,687
624,996
319,865
0
4,846,309
1,234,000
1,728,000
115,200
3,359,402
9,525,485
0
1,884,309
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

559,872
167,000
200,000
100,000

1,945,606
553,000
480,000
0

2,435,606
723,000
560,000
80,000

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
702,268
370,129
28,992
0
4,280,419
1,120,000
1,440,000
0
2,000,812

1,013,131
0
192,872
0

2,045,691
0
912,606
0

3,454,297
0
1,152,606
0

5,535,849
0
1,645,552
0

7,333,806
0
1,720,419
0

1.14
0.00
2.47
4.58
1.47
96.16
1.42
22.87
55.26
55.26
1.96
101.90

1.13
0.00
5.41
7.02
1.34
96.08
2.22
43.08
127.21
127.21
2.90
622.79

164,845

342,168

409,649

556,036

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

437

1.22
0.00
5.01
5.56
1.52
95.91
1.60
31.29
88.57
88.57
3.06
146.23

1.30
0.00
9.69
3.88
1.46
95.43
1.80
28.82
78.52
78.52
2.71
201.04

1.40
0.05
12.67
3.39
1.50
94.68
1.58
25.34
67.85
66.52
2.19
437.17

1.49
0.39
9.18
3.86
1.63
95.46
1.32
24.41
59.40
57.49
2.09
83.35

4.99
0.00
9.82
25.33

4.21
0.00
34.82
51.14

4.87
0.00
42.82
86.36

5.87
0.00
54.28
115.33

6.92
0.18
54.87
122.96

5.85
0.28
62.71
160.36

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

3,354,725

3,243,951

2,968,135

2,929,652

6,040,031
3,354,725
339,268
0

6,266,867
3,243,951
340,410
0

6,347,549
2,968,135
340,410
0

6,663,704
2,929,652
391,506
0

15,013,113
5,480,582
2,100,624
4,187,571
2,408,984
835,352
13,560,044
30,000
13,530,044
0

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

29,219,818
8,880,114
3,852,646
6,234,918
9,261,339
990,801
26,485,949
0
26,485,949
0

47,151,531
18,944,632
4,844,853
9,207,238
13,135,579
1,019,229
38,458,853
0
38,458,853
0

0
4,807,794
349,920
349,920
0
4,457,874

3,410,250
5,131,853
454,896
454,896
0
4,676,957

0
5,702,004
568,620
568,620
0
5,133,384

0
11,622,330
710,775
710,775
0
10,911,555

47,493,410
44,118,217
3,375,193
44,944,202

70,001,269
61,488,286
8,512,983
69,429,575

74,316,619
66,083,779
8,232,840
73,462,649

93,654,305
82,828,681
10,825,624
89,646,373

2,549,208
547,705

571,694
264,990

853,970
293,975

4,007,932
454,187

(Thousand Rupees)
2009
2010
18,415,324
336,072
6,383,506
2,524,816
127,932
0
15,299,218
255,218
28,140,279
6,803,995
4,869,728
15,510,180
0
956,376
32,302,627
0
32,302,627
120,130
0
0
0
120,130
0
14,132,846
852,930
852,930
0
11,356,577
5,296,593
6,059,984
1,923,339

19,957,153
260,908
6,543,471
2,565,183
123,925
0
16,915,229
215,833
42,297,522
3,971,738
7,179,547
30,430,592
0
715,645
46,259,902
0
46,259,902
140,022
0
0
0
140,022
0
15,854,751
852,930
852,930
0
13,078,482
4,723,028
8,355,454
1,923,339
88,184,026
78,993,417
9,190,609
88,693,686
86,766,501
1,927,185
(509,660)
346,870
24,834
322,036
543,681
308,797
0
(181,992)
270,900
0
0
(3,741,384)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,189,541
926,900
116,640
58,320

435,362
400,000
0
104,976

325,717
476,500
227,448
142,155

2,887,223
1,054,100
568,620
142,155

77,260,500
69,188,235
8,072,265
75,342,096
72,928,397
2,413,699
1,918,404
367,950
20,809
347,141
489,867
1,471,525
0
1,072,629
631,700
0
0
(11,543,764)

4,807,794
0
1,146,001
30,000

8,542,103
0
35,362
1,136,750

5,702,004
0
(378,231)
0

11,622,330
0
1,264,503
0

14,252,976
0
440,929
0

15,994,773
0
(452,892)
0

0.92
0.32
8.39
2.31
1.10
98.85
4.65
1.06
6.01
4.57
-0.66
19.29

1.07
1.33
9.83
1.87
1.23
95.72
3.31
7.02
33.33
33.33
3.22
19.33

0.69
1.90
20.08
1.66
0.87
97.52
2.29
2.22
8.33
8.29

0.74
0.35
34.51
1.42
0.91
100.58
2.93
-0.33
-1.21
-1.20

547,705

264,990

293,975

454,187

30,050

498,425

234,278

1,244,373

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.89
0.06
8.82
2.59
1.11
94.63
2.82
14.25
52.80
52.61
10.83
22.61

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

438

1.04
0.71
6.68
2.41
1.26
99.18
4.67
1.83
8.76
6.52

19.87

15.87

12.28

4.61
0.00
36.08
137.40

0.62
0.00
0.78
112.81

0.44
0.00
-2.65
100.28

3.08
0.00
25.79
163.52

1.39
-0.36
5.17
165.70

-0.21
-0.08
-5.31
185.89

Financial Statement Analysis of Non Financial Sector 2010

Byco Petruleum (Bosicor Pakistan Limited.)

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

3,279,965

3,737,018

6,401,691

8,575,551

3,621,380
3,274,196
337,544
5,769

4,390,591
3,719,322
325,598
17,696

7,275,720
6,387,534
219,890
14,157

9,698,575
8,564,933
249,322
10,618

3,596,174
300,887
1,812,325
1,260,162
0
222,800
3,493,796
814,102
2,679,694
820,782

7,380,583
2,189,778
3,909,395
1,106,960
0
174,450
7,358,405
890,101
6,468,304
1,000,605

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

23,486,044
7,906,497
11,934,244
3,217,917
0
427,386
26,027,414
1,605,532
24,421,882
933,899

535,698

321,396

107,094

820,782
2,561,561
2,450,652
2,450,652
0
110,909

464,907
2,758,591
2,450,652
2,450,652
0
307,939

1,130,193
5,048,797
2,450,652
2,450,652
0
2,598,145

826,805
5,100,282
3,921,044
3,921,044
0
1,179,238

11,522,053
11,522,053
0
11,130,580

21,633,519
21,201,256
432,263
21,008,890

23,349,577
22,435,606
913,971
23,422,062

40,092,140
40,092,140
0
37,950,232

391,473
105,615

624,629
138,578

(72,485)
196,142

2,141,908
1,647,747

(Thousand Rupees)
2009
2010
14,874,321
4,297,952
12,091,616
10,480,610
482,019
7,079
0
88,680
16,744,472
2,078,445
4,487,801
9,089,974
0
1,088,252
23,129,180
1,660,246
21,468,934
11,081,333
5,432,145
4,023,101
0
12,259
1,613,828
(2,591,720)
3,921,044
3,921,044
0
(10,597,517)
0
(10,597,517)
4,084,753

17,188,681
5,832,740
13,466,331
11,232,245
634,916
39,116
0
84,580
13,629,157
1,046,352
4,927,938
6,861,842
0
793,025
26,347,196
2,486,188
23,861,008
10,047,522
3,495,430
5,000,944
0
22,959
1,528,189
(5,576,880)
3,921,044
3,921,044
0
(13,358,802)
0
(13,358,802)
3,860,878
41,097,707
32,320,908
8,776,799
40,430,407
37,965,764
2,464,643
667,300
1,931,336
637,710
1,293,626
539,700
2,335,672
1,691,311
(2,856,742)
249,373
0
0
2,027,444

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

182,391
49,994
0
0

301,361
89,645
0
0

(628,204)
96,859
0
0

183,981
179,031
0
0

44,621,016
39,103,284
5,517,732
48,530,050
46,184,170
2,345,880
(3,909,034)
595,161
192,809
402,352
365,632
6,431,727
1,989,011
(10,327,182)
55,177
0
0
(5,837,508)

3,382,343
0
132,397
814,102

3,759,196
535,698
211,716
1,425,799

6,500,386
321,396
(725,063)
1,180,771

6,034,181
107,094
4,950
1,712,626

8,489,613
5,432,145
(10,382,359)
7,092,391

4,470,642
3,495,430
(3,106,115)
5,981,618

0.45
0.92
10.94
1.68
1.03
96.60
1.68
3.03
8.46
5.57

0.45
1.32
5.12
1.95
1.00
97.11
3.03
3.35
11.33
8.44

0.36
1.74
4.62
1.53
1.01
100.31
2.02
-4.77
-16.09
-12.25

0.43
1.24
8.03
1.25
0.90
94.66
5.29
0.78
3.63
2.94

0.48
14.41
20.37
1.41
0.72
108.76
-13.20
-32.43
-823.35
-142.21

0.30
5.68
16.70
1.33
0.52
98.38
-6.53
-9.15
69.94
-44.08

105,615

138,578

196,142

1,647,747

106,253

285,566

405,647

497,179

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

439

6.36

5.53

4.51

3.36

9.94
-4.19
-23.14
-0.17
-26.48
-6.61

8.34
-0.69
-6.95
0.06
-7.92
-14.22

1.58
0.00
0.54
10.45

1.39
0.00
0.86
11.26

-2.69
0.00
-2.96
20.60

0.46
0.00
0.01
13.01

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,532,531

2,297,379

2,361,478

2,613,187

6,293,972
1,511,276
157,597
21,255

7,167,360
2,286,751
177,150
10,628

7,416,800
2,343,352
195,768
18,126

7,907,169
2,601,276
239,204
11,911

16,899,885
7,844,153
3,205,874
1,654,027
0
4,195,831
11,492,269
0
11,492,269
0

22,625,162
7,761,060
6,475,195
5,342,764
0
3,046,143
15,545,821
0
15,545,821
0

30,280,081
11,492,152
7,687,420
6,130,324
0
4,970,185
19,895,170
0
19,895,170
0

43,991,428
13,122,136
13,288,291
10,173,051
3,615,359
3,792,591
29,185,570
0
29,185,570
0

0
6,940,147
666,388
666,388
0
6,273,759

0
9,376,720
666,388
666,388
0
8,710,332

0
12,746,389
666,388
666,388
0
12,080,001

0
17,419,045
799,666
799,666
0
16,619,379

69,141,470
60,000,277
9,141,193
65,305,511

96,634,962
84,005,891
12,629,071
91,636,209

109,145,970
92,926,185
16,219,785
102,882,180

146,233,271
124,753,735
21,479,536
135,552,515

3,835,959
948,955

4,998,753
1,064,284

6,263,790
1,155,225

10,680,756
1,922,197

(Thousand Rupees)
2009
2010
3,188,894
923,463
7,623,624
2,095,848
228,331
5,938
0
163,645
39,155,717
7,800,079
12,251,181
14,841,288
0
4,263,169
24,856,323
0
24,856,323
135,547
0
0
0
135,547
0
17,352,741
799,666
799,666
0
16,553,075
3,932,897
12,620,178
0

3,771,585
534,040
8,471,125
2,714,181
235,129
138
0
523,226
47,867,534
16,209,008
11,798,203
16,291,704
0
3,568,619
31,861,654
0
31,861,654
139,492
0
0
0
139,492
0
19,637,973
799,666
799,666
0
18,838,307
3,225,321
15,612,986
0
110,186,374
92,404,378
17,781,996
103,853,566
102,309,484
1,544,082
6,332,808
1,779,533
996,099
783,434
1,050,797
695,757
0
5,135,622
2,112,460
1,599,332
0
10,215,688

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,294,662
1,279,891
999,582
0

5,262,093
1,745,579
1,066,221
0

6,094,700
2,003,100
133,278
133,278

8,831,292
2,917,200
159,933
0

109,578,364
96,153,149
13,425,215
104,301,665
101,831,561
2,470,104
5,276,699
1,434,003
860,112
573,891
1,038,419
2,394,388
0
2,813,456
1,024,349
999,583
0
(7,397,293)

6,940,147
0
1,015,189
0

9,376,720
0
2,450,293
0

12,746,389
0
3,958,322
0

17,419,045
0
5,754,159
0

17,488,288
0
789,525
0

19,777,465
0
1,423,830
0

0.89
0.01
5.62
3.34
1.52
94.26
1.56
21.18
55.10
55.10
30.70
14.20

0.92
0.91
6.96
3.14
1.51
92.70
1.68
22.29
58.55
58.55
36.98
11.00

0.91
2.19
13.54
2.59
1.58
95.18
1.44
6.33
16.18
16.12
1.79
8.94

1.02
0.63
14.79
2.13
1.50
94.25
1.63
10.93
27.77
27.56
1.89
9.34

948,955

1,064,284

1,155,225

1,922,197

13,204

9,883

6,554

1,331,669

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.83
0.02
2.39
3.75
1.47
94.45
1.66
18.66
54.68
54.68
2.02
21.57

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

440

0.84
0.01
5.53
3.88
1.46
94.83
1.66
24.27
64.50
64.50
3.30
14.92

4.77
0.00
30.23
104.15

5.45
0.00
52.77
140.71

5.58
0.00
61.40
191.28

6.04
0.00
73.96
217.83

2.57
-0.30
22.37
217.00

4.66
0.32
37.81
245.58

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

5,829,506

6,500,547

8,153,327

10,359,216

7,896,660
5,829,506
203,195
0

6,928,639
6,500,547
230,793
0

10,712,568
8,153,327
285,180
0

13,015,437
10,359,216
580,625
0

10,010,459
5,240,201
30,216
1,083,357
2,676,278
980,407
4,556,542
0
4,556,542
0

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

16,867,069
3,173,303
69,207
2,343,639
8,734,654
2,546,266
5,544,193
0
5,544,193
0

22,508,772
7,424,725
57,611
1,800,233
10,214,926
3,011,277
7,498,072
0
7,498,072
0

0
11,283,423
1,314,144
1,314,144
0
9,969,279

1,620,000
14,624,496
1,971,216
1,971,216
0
12,653,280

0
19,476,203
1,971,216
1,971,216
0
17,504,987

0
25,369,916
1,971,216
1,971,216
0
23,398,700

10,081,003
10,081,003
0
4,689,996

17,732,095
17,732,095
0
9,143,418

16,331,115
16,331,115
0
7,794,591

18,722,408
18,722,408
0
8,087,533

5,391,007
1,049,928

8,588,677
620,388

8,536,524
1,001,077

10,634,875
1,736,721

(Thousand Rupees)
2009
2010
26,573,959
2,151,621
5,186,238
1,922,991
417,283
0
11,330,404
11,168,943
9,957,920
4,074,756
95,971
1,827,533
6,623
3,953,037
2,804,032
0
2,804,032
6,148,624
0
0
0
8,758
6,139,866
27,579,223
2,365,459
2,365,459
0
25,213,764
557,087
24,656,677
0

29,369,919
105,507
7,847,209
4,054,371
620,514
0
12,016,118
13,193,923
12,465,495
4,177,531
104,073
2,584,625
2,282,908
3,316,358
3,384,163
0
3,384,163
6,993,214
0
0
0
9,173
6,984,041
31,458,037
2,365,459
2,365,459
0
29,092,578
378,996
28,713,582
0
18,418,349
18,418,349
0
7,454,688
0
7,454,688
10,963,661
2,410,994
0
2,410,994
714,525
284,452
0
10,319,241
1,483,928
6,031,920
0
9,334,771

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

4,936,706
896,000
1,642,680
0

8,128,615
2,011,926
2,956,824
985,608

8,222,587
1,457,000
2,956,824
0

9,576,248
2,479,217
3,153,946
394,243

14,545,279
14,545,279
0
6,126,443
0
6,126,443
8,418,836
2,656,910
0
2,656,910
541,244
512,785
0
7,227,855
572,623
4,257,826
0
5,555,728

11,283,423
0
2,398,026
0

16,244,496
0
3,159,865
1,080,000

19,476,203
0
3,808,763
0

25,369,916
0
3,943,085
0

33,727,847
0
2,397,406
0

38,451,251
0
2,803,393
0

1.98
0.15
10.75
0.64
2.20
46.52
0.40
34.59
52.57
52.57
2.46
333.63

2.11
2.13
14.04
0.76
2.39
51.56
0.59
41.60
62.75
59.06
2.07
282.48

2.57
1.38
14.35
0.65
3.04
47.73
0.28
34.08
48.23
46.04
2.29
235.97

2.59
2.08
9.62
0.57
3.00
43.20
0.30
33.09
42.71
42.71
2.25
324.98

2.11
3.53
12.56
0.40
3.55
42.12
0.32
20.83
27.30
24.46
1.56
151.56

2.67
1.54
14.03
0.44
3.68
40.47
0.33
26.34
34.96
28.59
1.46
176.98

1,049,928

620,388

1,001,077

1,736,721

14,998

376,991

226,016

389,390

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

441

48.97
0.00
30.75
85.86

45.84
0.00
31.03
74.19

50.35
0.00
34.32
98.80

51.15
0.00
36.00
128.70

49.69
0.62
28.14
116.59

56.03
0.90
37.35
132.99

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

11,274,763

12,869,583

15,377,148

21,368,020

19,382,872
11,199,115
1,358,785
75,648

23,787,811
12,763,021
1,471,407
106,562

24,213,098
15,226,821
1,636,347
150,327

35,853,636
21,187,166
2,147,646
180,854

20,517,039
10,665,554
0
4,582,580
651,807
4,617,098
8,013,250
37,209
7,976,041
61,969

28,196,514
17,326,903
0
6,941,736
308,396
3,619,479
10,056,167
44,236
10,011,931
79,349

34,991,977
787,384
1,474,655
9,002,094
22,193,282
1,534,562
10,201,922
50,696
10,151,226
69,152

39,655,241
1,094,892
0
13,228,456
22,749,486
2,582,407
17,291,426
44,795
17,246,631
77,564

61,969
23,716,583
6,858,376
6,858,376
0
16,858,207

79,349
30,930,581
6,858,376
6,858,222
154
24,072,205

69,152
40,098,051
6,858,376
6,858,376
0
33,239,675

77,564
43,654,271
7,544,200
7,544,200
0
36,110,071

32,815,893
32,815,893
0
19,146,642

43,565,270
43,565,270
0
23,724,440

51,079,679
51,079,679
0
26,538,401

57,884,679
57,884,679
0
28,378,275

13,669,251
751,076

19,840,830
1,127,195

24,541,278
2,600,106

29,506,404
2,085,367

(Thousand Rupees)
2009
2010
37,477,478
16,444,583
34,950,465
18,318,870
2,308,665
207,264
1,854,333
652,428
45,438,653
1,384,353
0
27,779,864
13,241,686
3,032,750
14,648,084
45,946
14,602,138
5,209,490
100,105
0
0
990,685
4,118,700
63,058,557
8,298,606
8,298,606
0
54,759,951
1,428
54,758,523
0

44,522,467
14,786,064
46,802,606
26,909,324
3,437,317
374,850
1,804,498
647,731
63,057,116
1,874,393
0
30,811,189
27,520,453
2,851,081
19,623,088
1,210,728
18,412,360
8,050,264
87,881
0
0
1,135,029
6,827,354
79,906,231
9,958,298
9,958,298
0
69,947,933
1,428
69,946,505
0
59,961,616
59,961,616
0
25,349,117
0
25,349,117
34,612,499
2,567,955
0
2,567,955
6,424,494
154,832
57,910
34,528,207
9,727,779
8,962,468
1,991,660
26,459,883

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

13,474,991
4,796,196
3,772,000
0

20,189,533
6,436,482
3,772,068
0

24,356,770
8,015,087
3,086,269
685,838

30,446,555
9,366,685
11,693,510
754,420

61,580,072
61,580,072
0
20,624,486
0
20,624,486
40,955,586
3,103,270
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

23,778,552
0
4,906,795
37,209

31,009,930
0
9,980,983
44,236

40,167,203
0
13,255,414
50,696

43,731,835
0
9,386,360
44,795

68,268,047
100,105
17,038,029
146,051

87,956,495
87,881
15,837,960
1,298,609

1.98
0.06
13.96
1.03
2.56
58.35
0.34
42.39
56.82
56.67
2.30

2.44
0.07
15.93
1.06
2.80
54.46
0.33
55.42
73.89
73.70
3.65

2.14
0.12
22.85
0.95
2.29
49.03
0.40
54.67
72.71
72.58
1.80

2.89
0.15
45.11
0.74
3.10
33.49
0.31
58.23
78.54
74.84
2.58

3.07
0.26
51.38
0.56
3.21
42.28
0.35
36.25
48.30
44.20
2.77

3.13
0.10
17.62
1.01
3.43
51.95
0.26
53.28
68.58
68.44
5.29
34.64

41.06
0.00
12.65
34.58

46.34
0.00
20.05
45.10

751,076

1,127,195

2,600,106

2,085,367

19,219

30,096

49,424

66,624

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

442

47.68
0.00
23.83
58.47

52.60
0.00
27.94
57.86

2,179.65
68.06
0.67
33.53
75.99

597.24
57.58
0.96
24.90
80.24

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

709,781

816,734

952,118

989,865

1,275,865
709,781
83,204
0

1,600,580
816,734
110,122
0

1,841,574
930,675
132,110
21,443

2,030,504
975,774
143,831
14,091

6,946,636
248,724
2,040,949
3,924,648
865
731,450
4,358,556
237
4,358,319
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

13,734,415
1,698,277
5,107,781
4,779,465
255,846
1,893,046
9,881,450
0
9,881,450
0

22,782,211
2,646,115
9,102,109
10,427,821
58,603
547,563
16,966,171
0
16,966,171
0

0
3,297,861
200,000
200,000
0
3,097,861

0
4,551,548
250,000
250,000
0
4,301,548

0
4,805,083
300,000
300,000
0
4,505,083

0
6,805,905
350,000
350,000
0
6,455,905

44,442,052
44,442,052
0
41,505,290

71,991,159
71,991,159
0
69,589,746

67,385,920
67,385,920
0
66,609,969

107,300,775
107,300,775
0
102,969,009

2,936,762
376,831

2,401,413
391,201

775,951
270,663

4,331,766
1,079,720

(Thousand Rupees)
2009
2010
3,412,936
1,381,075
2,131,135
954,988
130,813
6,739
57,280
1,012,854
29,153,909
3,909,833
8,367,282
14,431,063
0
2,445,731
30,383,131
4,105,936
26,277,195
4,372
0
0
0
4,372
0
2,179,342
350,000
350,000
0
1,829,342
897
1,828,445
0

5,696,266
1,562,378
5,361,657
4,036,490
155,256
0
66,663
30,735
25,163,450
9,590
6,810,970
16,120,819
0
2,222,071
28,509,765
3,171,710
25,338,055
1,138
0
0
0
1,138
0
2,348,813
350,000
350,000
0
(1,145,115)
897
(1,146,012)
3,143,928
76,658,272
67,654,609
9,003,663
77,289,144
75,216,281
2,072,863
(630,872)
289,187
126,394
162,793
434,092
1,134,272
281,750
(1,914,433)
91,294
0
0
(2,830,971)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,600,314
878,545
100,000
0

2,063,383
726,621
0
112,500

504,265
288,440
99,000
0

3,254,618
1,153,180
0
50,100

76,861,057
69,790,188
7,070,869
79,874,195
79,048,218
825,977
(3,013,138)
288,636
120,841
167,795
390,389
2,477,467
343,481
(5,501,398)
85,872
0
0
(1,397,205)

3,297,861
0
1,621,769
237

4,551,548
0
1,336,762
29,080

4,805,083
0
116,825
0

6,805,905
0
2,101,438
0

2,183,714
0
(5,587,270)
4,105,936

2,349,951
0
(2,005,727)
3,171,710

0.60
3.22
18.78
2.36
0.96
103.92
13.94
-19.53
-122.45
-122.39

0.57
1.48
21.03
2.48
0.88
100.82
12.14
-6.04
-84.56
-84.45

376,831

391,201

270,663

1,079,720

29,957

40,999

81,718

253,047

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.96
0.07
8.83
5.80
1.59
93.39
1.32
37.56
106.46
106.46
17.22
21.78

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

443

0.82
0.06
5.10
6.00
1.50
96.66
1.64
20.99
52.57
52.57

18.73

0.68
0.12
7.09
4.59
1.39
98.85
2.06
3.78
10.78
10.78
2.18
13.19

0.77
0.24
9.72
4.51
1.34
95.96
2.49
16.93
56.06
56.06

11.79

9.19
-15.02
-7.16
-0.05
-159.64
62.27

11.26
-5.79
-2.50
-0.10
-57.31
67.11

5.85
0.00
86.09
164.89

2.87
0.00
53.47
182.06

0.75
0.00
7.19
160.17

3.03
0.00
60.04
194.45

Financial Statement Analysis of Non Financial Sector 2010

Pakistan State Oil Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

8,256,129

7,639,248

8,138,529

7,566,051

14,329,269
8,111,482
973,607
144,647

13,668,220
7,484,429
1,046,839
154,819

16,244,045
8,012,317
1,098,157
126,212

16,774,554
7,460,549
1,119,137
105,502

43,822,347
1,921,936
20,583,301
6,791,078
2,084,453
12,441,579
33,442,017
4,811,605
28,630,412
0

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
0

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

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
18,636,459
1,715,190
1,715,190
0
16,921,269

0
20,813,059
1,715,190
1,715,190
0
19,097,869

0
20,939,217
1,715,190
1,715,190
0
19,224,027

0
30,965,054
1,715,190
1,715,190
0
29,249,864

254,362,981
254,362,981
0
240,616,650

353,833,345
353,833,345
0
336,626,119

411,989,979
411,989,979
0
399,730,549

583,213,959
583,213,959
0
553,190,333

13,746,331
5,443,577

17,207,226
7,101,552

12,259,430
6,012,814

30,023,626
9,283,021

(Thousand Rupees)
2009
2010
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
14,598,367
130,023,120
18,654,526
111,368,594
2,527,738
0
0
0
1,673,020
854,718
20,870,785
1,715,190
1,715,190
0
19,155,595
545,595
18,610,000
0

8,874,593
644,850
17,106,763
5,730,383
1,137,637
36,250
2,019,270
443,840
193,373,148
1,778,056
58,598,668
117,501,074
0
15,495,350
170,075,456
13,021,015
157,054,441
2,836,227
0
0
0
1,887,751
948,476
29,336,058
1,715,190
1,715,190
0
27,620,868
475,829
27,145,039
0
742,757,951
742,757,951
0
713,591,707
0
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
4,957,702

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

9,226,394
3,236,857
4,030,694
0

11,654,101
4,335,720
5,831,646
0

7,121,980
2,483,725
3,601,899
0

21,377,412
7,392,666
4,030,696
0

612,695,589
612,695,589
0
609,685,478
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
(11,356,864)
201,536
857,595
0
(4,828,554)

18,636,459
0
1,958,843
4,811,605

20,813,059
0
1,486,735
7,648,919

20,939,217
0
1,036,356
9,064,781

30,965,054
0
9,954,050
10,997,908

23,398,523
0
(12,415,995)
18,654,526

32,172,285
0
12,685,296
13,021,015

0.32
0.15
2.67
4.88
1.31
94.60
1.79
19.53
54.56
54.56
1.49
12.36

0.34
0.25
3.35
5.04
1.27
95.14
2.37
19.07
59.08
59.08
1.25
12.56

0.34
0.28
3.30
5.51
1.24
97.02
2.57
9.83
34.12
34.12
1.29
13.94

0.41
0.23
5.81
4.59
1.24
94.85
3.10
21.18
82.37
82.37
3.47
9.35

0.64
1.02
13.14
3.99
1.07
99.51
6.35
-8.10
-43.82
-41.78
-13.48
15.05
-2.85
-1.85
-0.04
-67.39
121.68

0.70
1.33
15.82
3.67
1.14
96.07
5.89
10.10
71.56
64.65
10.24
12.68
10.46
2.42
0.03
81.96
171.04

5,443,577

7,101,552

6,012,814

9,283,021

370,699

884,153

1,158,112

1,367,898

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

444

3.63
0.00
34.92
108.66

3.29
0.00
42.67
121.35

1.73
0.00
27.04
122.08

3.67
0.00
81.53
180.53

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

5,587,840

5,728,075

6,579,993

7,152,802

10,094,397
5,587,840
690,701
0

10,536,413
5,690,186
655,737
37,889

11,896,099
6,560,808
578,296
19,185

13,180,913
7,139,931
337,503
12,871

14,735,255
752,112
6,608,167
3,052,553
1,877,001
2,445,422
11,918,761
3,716,680
8,202,081
16,270

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

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

32,119,328
6,549,868
9,004,305
2,925,753
2,018,198
11,621,204
33,014,777
13,894,872
19,119,905
1,795

16,270
8,388,064
350,658
350,658
0
8,037,406

7,019
10,114,107
438,323
438,323
0
9,675,784

547
9,460,771
547,904
547,904
0
8,912,867

1,795
6,255,558
684,880
684,880
0
5,570,678

112,043,414
112,043,414
0
103,201,382

133,636,584
133,636,584
0
124,233,130

131,040,241
131,040,241
0
125,266,780

84,900,772
77,990,403
6,910,369
87,849,668

8,842,032
4,875,377

9,403,454
5,125,509

5,773,461
5,429,419

(2,948,896)
4,839,035

(Thousand Rupees)
2009
2010
12,290,483
740,908
11,134,698
6,283,879
743,431
289,573
2,312,806
2,663,317
21,363,250
869,623
13,076,718
1,239,213
0
6,177,696
25,169,302
8,491,809
16,677,493
213,828
1,790
0
0
212,038
0
8,270,603
684,880
684,880
0
7,585,723
2,096,050
5,489,673
0

13,007,751
344,304
11,539,373
6,158,469
799,176
1,679,707
2,547,853
2,277,418
25,489,760
1,045,025
12,348,438
2,013,358
0
10,082,939
30,407,710
10,001,988
20,405,722
189,766
2,662
0
0
187,104
0
7,900,035
684,880
684,880
0
7,215,155
2,096,050
5,119,105
0
197,530,911
170,217,084
27,313,827
185,403,153
5,935,398
179,467,755
12,127,758
8,942,452
4,524,058
4,418,394
1,898,560
1,264,677
1,070,170
3,044,085
1,087,055
821,856
0
2,238,505

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,642,984
1,281,385
1,279,901
0

4,599,494
1,461,713
1,314,969
109,581

378,736
89,779
876,645
0

(8,420,354)
85,785
3,424,400
171,220

156,000,098
141,347,184
14,652,914
143,097,916
4,882,003
138,215,913
12,902,182
8,507,548
3,376,353
5,131,195
1,899,050
1,401,211
1,249,957
3,910,009
778,934
2,260,104
0
3,933,575

8,404,334
0
1,081,698
3,716,680

10,121,126
0
1,822,812
5,056,340

9,461,318
0
(587,688)
7,568,039

6,257,353
0
(11,930,539)
13,894,872

8,484,431
1,790
870,971
8,493,599

8,089,801
2,662
1,135,174
10,004,650

0.45
0.30
3.92
4.74
1.24
92.96
1.79
18.97
49.72
49.66
2.39
13.39

0.38
0.69
3.49
4.49
1.15
95.59
2.09
1.32
3.87
3.87
0.33
15.90

0.35
1.15
3.45
2.16
0.97
103.47
5.28
-24.59
-107.15
-107.14
-2.48
9.43

0.08
0.90
0.79
4.64
0.85
91.73
3.07
10.72
53.83
53.05
1.39
11.93
4.13
2.51
0.15
45.72
120.76

0.10
0.64
1.02
5.13
0.84
93.86
3.87
8.44
37.65
36.73
2.38
16.00
3.84
1.54
0.07
28.57
115.35

4,875,377

5,125,509

5,429,419

4,839,035

330,941

398,009

909,919

976,838

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.48
0.30
2.72
5.51
1.24
92.11
1.42
20.43
50.18
49.97
1.85
16.96

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

445

3.25
0.00
67.35
239.21

3.44
0.00
71.59
230.75

0.29
0.00
5.27
172.67

-9.92
0.00
-124.20
91.34

PAPER, PAPERBOARD AND PRODUCTS

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

11,433,402

18,935,247

29,077,484

32,812,211

18,249,481
11,427,606
783,794
5,796

25,927,002
18,932,507
789,409
2,740

36,820,332
29,069,829
974,168
7,655

34,913,594
32,783,525
1,347,443
28,686

8,798,812
2,316,879
2,506,500
1,536,335
1,180,756
1,258,342
5,276,112
2,457,130
2,818,982
1,947,459

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

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

22,091,251
403,610
6,818,232
2,318,293
8,801,223
3,749,893
13,955,954
5,869,699
8,086,255
17,965,664

(Thousand Rupees)
2009
2010
41,275,251
371,717
44,015,945
32,320,378
2,248,049
71,634
4,564,542
3,946,980
15,811,967
994,853
7,229,244
3,237,019
0
4,350,851
7,224,931
430,508
6,794,423
20,322,878
7,970,577

44,201,279
794,331
44,806,245
30,636,911
2,542,185
66,548
8,683,224
4,020,265
17,468,180
1,499,732
7,357,164
3,385,656
0
5,225,628
8,602,730
511,439
8,091,291
16,531,678
7,956,291

1,947,459
13,008,643
1,659,614
1,659,614
0
11,349,029

6,663,200
19,627,578
1,803,436
1,803,436
0
17,824,142

16,125,907
24,557,918
1,904,321
1,904,321
0
22,653,597

17,965,664
22,981,844
2,164,227
2,164,227
0
20,817,617

0
0
12,352,301
29,539,409
3,844,732
2,238,857
1,605,875
25,449,253

25,449,253
245,424

32,446,922
243,398

16,349,033
16,162,388
186,645
13,553,078

16,792,668
16,602,563
190,105
14,090,569

19,516,775
19,318,000
198,775
16,906,320

23,603,296
22,993,347
609,949
21,577,634

2,795,955
1,079,800

2,702,099
1,187,914

2,610,455
1,185,201

2,025,662
1,303,203

34,937,728
33,655,048
1,282,680
31,354,437
19,668,292
11,661,119
3,583,291
1,820,135
741,672
1,078,463
1,168,535
2,586,284
1,014,784
889,377
391,355
524,700
12,499
891,904

167
8,575,220
36,535,051
3,844,731
2,238,856
1,605,875
32,446,922

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

2,382,098
642,928
729,063
8,160

6,995,521
349,884
521,158
100,885

6,305,209
294,618
114,979
259,906

332,151
215,891
123,891
105,629

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
(611,306)

14,956,102
0
1,010,107
2,457,130

26,290,778
0
6,124,479
2,297,361

40,683,825
0
5,895,612
1,421,950

40,947,508
0
(7,631)
5,869,699

49,862,287
7,970,577
1,704,566
8,401,085

53,066,729
7,956,291
(26,678)
8,467,730

0.95
1.49
9.40
0.81
1.67
82.90
0.56
13.67
21.60
19.42
2.39
6.52

1.47
1.42
7.90
0.53
2.37
83.91
0.61
26.97
42.87
33.92
12.75
5.84

1.67
2.88
9.29
0.40
2.54
86.62
0.96
15.79
28.54
18.83
52.28
5.19

0.83
7.81
9.82
0.43
1.58
91.42
1.39
0.64
1.40
0.81
0.94
3.46

0.59
10.69
11.86
0.48
2.19
94.71
0.93
8.54
18.21
10.53
4.50
3.78
4.78
17.51
-0.02
9.66
130.20

0.57
7.40
9.69
0.57
2.03
89.74
0.69
1.50
2.69
1.73
0.95
4.75
1.88
2.55
0.04
2.20
161.03

1,079,800

1,187,914

1,185,201

1,303,203

243,016

239,187

561,295

1,844,149

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

448

14.57
0.00
9.89
73.97

41.66
0.00
36.25
107.05

32.31
0.00
31.56
128.96

1.41
0.00
0.53
104.74

Growth with Composition of Assets & Liabilites

50

30%

Billion Rs

23.7%

19.1%

40
10.5%

7.1%

30

20%

10%
0%

20

-10%

10

-18.7%

-20%

-30%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

Growth
200%

40
35
Billion Rs

150%

148.0%

30

100%

25
28.0%

20

50%

15

0%

10
-50%

-81.4%

0
Sales

Gross Profit

2009

2010

2009

20

17.51
2010

15
10.53

8.54

Percentage

Percentage

18.21

Net Profit Before Tax

Key Performance Indicators

Profitability/Efficiency Ratios
20
18
16
14
12
10
8
6
4
2
0

-100%

9.66

10

1.5

2.69
1.73

2.19 2.03

2.55

2.2

0.93 0.69
Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

6,301

5,741

5,237

4,783

4,487

22,880
6,301
621
0

22,880
5,741
560
0

22,880
5,237
504
0

22,880
4,783
454
0

22,880
4,374
409

22,880
4,006
368

7,236
2,038
0
0
0
5,198
28,515
0
28,515
0

6,874
1,548
0
0
0
5,326
27,367
0
27,367
0

7,885
2,665
0
0
0
5,220
27,390
0
27,390
0

7,422
2,306
0
0
0
5,116
25,860
0
25,860
0

113
8,155

113
9,448
4,546

769
25,000

760
25,000

0
(14,978)
30,000
30,000
0
(44,978)

0
(14,752)
30,000
30,000
0
(44,752)

0
(14,268)
30,000
30,000
0
(44,268)

0
(13,655)
30,000
30,000
0
(43,655)

0
0
25,000
(13,127)
30,000
30,000
0
0

25,000
(12,193)
30,000
30,000
0
0

(43,127)

(42,193)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
1,727

0
1,598

0
1,330

0
1,473

0
1,657

0
1,345

3,178

4,119

0
4,977
769

0
4,902
760

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,727

1,598

1,330

1,473

1,657

1,345

743
215

1,215
281

112

98

(265)
8
0
0

235
9
0
0

584
100
0
0

723
110
0
0

(14,978)
0
(273)
0

(14,752)
0
226
0

0.07

0.00
0.25

0
872

0
1,368

(14,268)
0
484
0

(13,655)
0
613
0

11,873
0
528
0

12,807
0
934
0

0.06

0.10

0.09

0.00

5.98

0.00
0.25

0.00
0.29

0.00
0.29

0.00
10.60

0.00
12.43

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

450

-1.90
-1.97
1.79
1.79

-1.86
1.80
-1.58
-1.58

-1.92
4.54
-4.02
-4.02

-1.89
5.71
-5.18
-5.18

-1.96
5.98
-5.55
-83.39

-2.11
9.27
-9.60
9.85

0.00
-0.05
-2.50

0.00
0.04
-2.46

0.00
0.16
-4.76

0.00
0.10
-2.28

0.03
0.09
-2.19

0.05
0.16
-2.03

0.00

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

74,809

73,416

69,106

64,726

60,563

107,074
74,809
5,798
0

111,003
73,416
5,322
0

111,625
69,106
4,932
0

111,794
64,726
4,550
0

111,353
60,471
4,144

111,353
56,669
3,801

223,741
2,599
213,362
0
0
7,780
309,769
116,841
192,928
177

231,187
1,236
222,519
0
0
7,432
321,806
114,937
206,869
80

238,171
1,271
230,326
0
0
6,574
326,600
101,531
225,069
0

243,669
197
236,946
0
0
6,526
329,165
101,531
227,634
0

92
249,609
118
243,595

73
251,103
90
245,568

177
(11,396)
30,000
30,000
0
(41,396)

56,742

0
5,896
255,405

0
5,445
255,595

255,405
71,261

255,595
71,284

80
(17,283)
30,000
30,000
0
(47,283)

0
(19,323)
30,000
30,000
0
(49,323)

0
(20,770)
30,000
30,000
0
(50,770)

0
0
71,261
(16,494)
30,000
30,000
0
(46,494)

(46,494)

(49,034)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

6,880
2,509
4,371
5,104

0
0

0
2,448

0
1,552

0
1,870

0
1,440

71,284
(19,034)
30,000
30,000
0
(49,034)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

0
0
4,668
180
4,488
143

3,758

3,325

171

5,104
1,776
2,489
1,731
758
361
34

(6,206)
0
0
0

(4,877)
0
0
0

(2,041)
0
0
0

(1,446)
0
0
0

4,332
56

(2,540)

0
(1,120)

0
0
(46)

(11,219)
0
(6,206)
116,841

(17,203)
0
(4,877)
114,937

(19,323)
0
(2,041)
101,531

(20,770)
0
(1,446)
101,531

54,767
0
4,276
0

52,250
0
(2,540)
0

0.01

0.00

0.00

0.00

0.00
0.72

0.00
0.72

0.00
0.73

0.00
0.74

0.00
0.49
0.00
0.02
0.98
74.19
-19.81
1.40
-23.25
25.48

0.00

2,448

1,552

1,870

1,440

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

451

-27.20
-2.09
74.55
83.67

-18.62
-1.62
34.01
34.32

-16.90
-0.67
11.15
11.18

-15.85
-0.47
7.21
7.21

0.00
0.98

-17.17
-0.82
13.19
-4.88

0.00

0.00

0.00

0.00

0.03

0.00

0.00
-2.07
-3.80

0.00
-1.63
-5.76

0.00
-0.68
-6.44

0.00
-0.48
-6.92

62.97
0.00
1.43
-5.50

0.00
-0.85
-6.34

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

2,111,440

3,377,138

8,596,373

10,881,147

3,392,807
2,110,944
206,547
496

4,904,153
3,376,930
246,486
208

10,232,680
8,589,883
246,484
6,490

5,900,257
10,855,498
288,791
25,649

732,853
31,231
335,127
180,142
0
186,353
827,770
341,714
486,056
533,077

1,061,371
21,775
424,940
216,038
165,595
233,023
1,177,020
571,796
605,224
440,476

1,040,925
21,806
455,862
280,801
0
282,456
3,151,875
567,553
2,584,322
3,580,952

2,521,390
16,474
1,496,478
413,171
0
595,267
4,948,487
1,643,545
3,304,942
5,521,428

533,077
1,483,446
321,288
321,288
0
1,162,158

(Thousand Rupees)
2009
2010
10,701,086
296,362
12,902,270
10,157,985
696,224
49,664

10,140,633
28,416
13,330,594
9,850,801
743,407
41,463

197,075
3,076,057
406,851
1,357,453
504,129
0
807,624
3,003,665

219,953
3,928,645
264,930
1,868,914
759,663
0
1,035,138
3,949,721

3,003,665
8,895,000

3,949,721
5,225,000

440,476
2,821,013
642,576
642,576
0
2,178,437

3,580,952
2,904,471
642,576
642,576
0
2,261,895

5,521,428
2,932,622
706,834
706,834
0
2,225,788

0
0
8,895,000
1,878,478
706,834
706,834
0
1,171,644

3,452,823
3,452,823
0
2,961,014

3,843,935
3,843,935
0
3,385,320

4,415,467
4,415,467
0
4,109,883

5,036,261
5,036,261
0
4,717,895

491,809
116,140

458,615
121,777

305,584
128,696

318,366
221,743

5,225,000
4,894,557
706,834
706,834
0
4,187,723

1,171,644

4,187,723

7,152,092
7,152,092

9,702,311
9,702,311

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

116,140

121,777

128,696

221,743

22,016

78,071

89,768

99,693

7,226,388
4,546,513
2,679,875
(74,296)
280,987
58,067
222,920
427,758
1,300,208

8,267,717
5,270,028
2,997,689
1,434,594
297,198
79,532
217,666
489,143
1,141,099

376,472
114,505
141,396
0

308,222
17,091
0
0

124,182
38,565
0
64,258

37,053
23,913
0
0

(1,594,609)
540,465

0
(210,604)

70,633
(28,317)
35,342
0
(473,173)

2,016,523
0
120,571
341,714

3,261,489
0
291,131
571,796

6,485,423
0
85,617
567,553

8,454,050
0
13,140
1,643,545

10,773,478
0
(2,135,074)
0

10,119,557
0

0.26
0.64
5.22
1.21
0.89
85.76
0.92
14.73
28.97
21.80
1.85
10.30

0.34
2.03
5.62
0.87
0.90
88.07
0.57
8.46
14.32
11.68

0.10
2.03
6.36
0.46
0.33
93.08
2.32
1.76
4.34
2.55

0.30
18.18
7.05
0.52
1.02
101.04
6.33
-11.73
-66.29
-16.59

0.26
11.76
7.83
0.69
0.99
85.21
1.87
0.51
2.09
0.68

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

452

0.09
1.98
8.20
0.38
0.51
93.68
3.57
0.32
1.27
0.50

9.05

9.69

3.37

5.27

5.19

10.90
0.00
8.15
46.17

8.02
0.00
4.53
43.90

2.81
0.00
1.33
45.20

0.74
0.00
0.19
41.49

-22.30
-0.02
-30.21
26.58

0.73
-0.05

69.25

Financial Statement Analysis of Non Financial Sector 2010

Cherat Papersack Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

172,156

165,461

152,484

196,061

250,293
172,156
7,033
0

255,943
165,461
13,592
0

256,852
152,484
13,910
0

312,948
196,061
13,270
0

415,627
53,020
198,048
94,811
31,142
38,606
190,002
114
189,888
100,000

533,936
39,170
297,100
118,260
44,428
34,978
320,562
135,511
185,051
75,000

717,797
19,998
513,143
106,236
50,181
28,239
445,688
146,458
299,230
50,000

1,344,889
9,829
973,484
4,354
50,471
306,751
1,088,448
736,764
351,684
25,000

100,000
297,781
48,960
48,960
0
248,821

(Thousand Rupees)
2009
2010
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
163,573
993,912

378,106

535,580
369,619
37,721
5,143
2,040
1,304
742,856
7,264
386,135
229,308

120,149
551,753

993,912
143,882

551,753
95,568

75,000
303,835
58,752
58,752
0
245,083

50,000
374,593
58,752
58,752
0
315,841

25,000
427,502
73,440
73,440
0
354,062

0
0
143,882
378,276
91,800
91,800
0
286,476

820,714
818,932
1,782
744,738

914,451
906,138
8,313
874,858

1,350,948
1,344,258
6,690
1,187,865

2,146,812
2,139,949
6,863
1,968,658

75,976
34,637

39,593
21,630

163,083
32,982

178,154
35,024

95,568
473,641
91,800
91,800

381,841

286,476

381,841

2,060,614
2,060,614

1,985,235
1,985,235

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,919,207
1,821,762
97,445
141,407
33,243
20,253
12,990
6,726
176,748
160,348
(58,351)
23,140

1,774,572
1,605,505
144,041
210,663
48,121
25,026
23,095
8,926
96,428
96,329
161,556
10,814
0

0
127,638

574,240

424,593
0
90,522
146,458

452,502
0
69,473
736,764

522,158
0
(81,491)
0

569,209
0
150,742
0

0.40
2.06
7.86
1.55
1.61
87.93
1.32
14.81
34.26
28.93
8.70
2.63

0.06
2.25
0.20
1.39
1.24
91.70
2.60
8.66
26.04
23.81
7.31
2.21

0.25
8.58
11.91
1.36
1.12
93.14
3.01
-3.82
-14.48
-11.97

0.43
4.86
11.55
1.77
1.35
89.39
1.37
12.25
37.93
29.61

34,637

21,630

32,982

35,024

1,171

15,203

27,808

48,391

47,838
14,921
22,032
8,160

9,910
3,978
8,813
0

116,207
13,935
11,750
14,688

104,426
23,937
11,016
18,360

397,781
0
10,885
114

378,835
0
(2,881)
135,511

0.94
0.14
11.55
1.40
2.19
90.74
0.97
9.66
16.70
14.21
1.49
4.14

0.63
1.66
12.93
1.31
1.67
95.67
1.30
1.54
3.29
2.55
0.67
3.08

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

453

5.83
0.00
6.72
60.82

1.08
0.00
1.01
51.71

8.60
0.00
17.41
63.76

4.86
0.00
10.96
58.21

2.94
0.64
-2.83
0.11
-8.88
41.21

5.14
2.68
8.14
0.89
16.42
51.59

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

20,606

59,551

54,290

47,805

41,379

39,032
20,606
2,655
0

69,916
59,551
5,995
0

69,953
54,290
5,298
0

60,291
47,805
4,841
0

61,486
36,961
2,377

61,486
36,961
2,377

40,722
667
4,020
27,854
0
8,181
10,939
1,039
9,900
4,964

33,158
806
11,001
8,502
0
12,849
17,116
2,550
14,566
15,423

38,762
320
4,837
17,977
0
15,628
18,512
2,932
15,580
12,660

34,810
285
0
20,445
0
14,080
25,182
5,841
19,341
8,760

4,418
28,928
291
2,408
20,841
0
5,388
16,677

4,418
28,928
291
2,408
20,841
0
5,388
16,677

4,964
45,425
40,000
40,000
0
5,425

15,423
60,170
40,000
40,000
0
20,170

12,660
61,880
40,000
40,000
0
21,880

100,272
100,272
0
86,799

41,379

16,677
12,346

16,677
12,346

8,760
48,673
40,000
40,000
0
8,673

12,346
41,284
40,000
40,000
0
1,284

12,346
41,284
40,000
40,000
0
1,284

1,284

1,284

96,831
96,831
0
77,793

69,402
69,402
0
54,709

47,500
47,500
0
50,229

3,750
3,750

3,750
3,750

13,473
9,964

19,038
17,272

14,693
12,169

(2,729)
9,581

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,350

3,350

3,350
400
4,561

3,350
400
4,561

9,964

17,272

12,169

9,581

4,561
1,375

4,561
1,375

(4,161)

(4,161)

486

1,200

1,844

1,533

3,127
741
0
0

750
1,260
0
0

694
673
0
0

(13,445)
207
0
0

0
2,445

0
2,445

50,389
0
2,386
1,039

75,593
0
(510)
2,550

74,540
0
21
2,932

57,433
0
(13,652)
5,841

53,630
0
(4,161)
0

53,630
0
(4,161)
0

2.61
0.48
27.78
1.64
3.72
86.56
0.35
5.13
7.09
6.41

0.54
1.24
8.78
1.04
1.94
80.34
0.54
0.97
1.42
1.19

0.99
2.66
25.90
0.75
2.09
78.83
0.50
0.75
1.14
0.92

0.82
3.23
43.04
0.57
1.38
105.75
0.70
-15.31
-24.32
-20.38

1.27
0.00
555.76
0.05
1.73
89.33
0.70
-5.44
-9.25
-7.49

1.27
0.00
555.76
0.05
1.73
89.33
0.70
-5.92
-10.08
-7.76

1.56

1.56

-110.96
0.08
-1.04
10.32

-110.96
0.08
-1.04
10.32

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

454

24.94

8.80

14.35

3.12
0.00
0.60
11.36

0.77
0.00
-0.13
15.04

1.00
0.00
0.01
15.47

-28.31
0.00
-3.41
12.17

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

357,736

393,771

420,340

605,166

420,778
357,736
16,034
0

493,606
393,771
32,424
0

555,573
419,538
34,090
802

743,117
602,370
31,903
2,796

126,642
309
58,872
37,783
0
29,678
131,906
82,034
49,872
148,467

115,693
233
56,717
26,292
0
32,451
155,335
92,852
62,483
132,221

121,982
270
61,714
26,755
0
33,243
183,784
100,736
83,048
118,511

236,840
696
110,681
55,751
0
69,712
504,593
140,579
364,014
88,234

148,467
204,005
27,495
27,495
0
176,510

(Thousand Rupees)
2009
2010
699,861
2,567
865,666
682,915
44,727
4,824

663,143
2,880
873,720
649,865
49,309
3,843

9,555
282,561
583
111,183
100,767
0
70,028
344,074

6,555
517,508
499
253,640
180,821
0
82,548
476,224

344,074
382,371

476,224
467,142

132,221
221,908
27,495
27,495
0
194,413

118,511
240,027
27,495
27,495
0
212,532

88,234
249,179
41,242
41,242
0
207,937

0
0
382,371
255,977
47,429
47,429
0
71,210

71,210
137,338

53,364
136,493

526,142
526,142
0
462,999

606,556
606,556
0
516,423

673,574
673,574
0
568,807

652,215
652,215
0
588,695

808,840
808,840

1,076,104
1,076,104

63,143
21,783

90,133
23,931

104,767
33,780

63,520
24,968

467,142
237,285
47,428
47,428
0
53,364

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

21,783

23,931

33,780

24,968

11,186

24,005

25,962

29,395

766,138
584,419
181,719
42,702
32,826
11,287
21,539
76,377
67,605
66,643
(56,217)
18,872

985,226
786,327
198,899
90,878
44,354
18,366
25,988
92,271
76,997
76,462
(28,780)
10,089
0
0
(131,218)

31,006
2,287
9,623
0

43,042
2,637
9,623
0

45,623
11,381
0
13,747

10,806
2,789
0
6,186

0
(82,792)

352,472
0
19,096
82,034

354,129
0
30,782
92,852

358,538
0
34,242
100,736

337,413
0
8,017
140,579

638,348
0
(75,089)
0

704,427
0
(38,869)
0

0.29
2.13
7.18
1.09
0.96
88.00
1.37
9.83
21.74
13.60
2.98
8.94

0.17
3.96
4.33
1.19
0.74
85.14
1.30
8.66
20.21
12.18
4.20
10.69

0.15
3.85
3.97
1.24
0.66
84.45
1.26
8.68
19.75
12.80

0.11
4.51
8.55
0.77
0.47
90.26
2.38
1.56
4.42
3.11

0.29
8.36
12.46
0.82
0.82
94.72
2.84
-6.16
-22.26
-11.52

0.38
7.16
16.80
0.91
1.09
91.55
3.98
-2.66
-11.67
-4.29

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

455

10.91

5.89

7.27
0.16
-6.95
-0.11
-15.83
53.97

4.24
0.62
-2.67
-0.14
-8.20
50.03

5.89
0.00
10.45
74.20

7.10
0.00
14.70
80.71

6.77
0.00
12.45
87.30

1.66
0.00
1.94
60.42

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

6,267,638

13,233,166

18,188,354

19,466,067

10,760,304
6,262,338
399,462
5,300

18,093,433
13,230,634
376,408
2,532

23,566,349
18,187,991
554,240
363

25,665,119
19,465,826
885,611
241

5,352,766
2,019,950
1,144,043
784,638
708,957
695,178
2,867,455
1,607,879
1,259,576
1,000,851

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

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

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

1,000,851
7,752,098
698,795
698,795
0
7,053,303

6,000,000
13,672,797
698,795
698,795
0
12,974,002

12,346,500
18,170,772
733,735
733,735
0
17,437,037

12,304,400
16,272,572
843,795
843,795
0
15,428,777

8,163,084
8,061,945
101,139
6,810,105

9,998,559
9,816,767
181,792
8,428,941

11,686,414
11,494,329
192,085
10,180,575

14,300,923
13,697,837
603,086
13,357,624

1,352,979
635,253

1,569,618
880,026

1,505,839
852,768

943,299
874,938

(Thousand Rupees)
2009
2010
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
1,733,179
2,239,661
430,508
1,809,153
10,634,454
7,970,577

31,430,629
753,328
27,671,781
18,209,643
1,582,728
16,099
8,681,184
3,770,375
9,461,682
1,166,449
4,163,403
1,947,316
0
2,184,514
2,943,732
511,439
2,432,293
10,469,015
7,956,291

0
0
2,663,877
23,744,391
2,449,670
843,795
1,605,875
21,294,721

167
2,512,557
27,479,564
2,449,670
843,795
1,605,875
25,029,894

21,294,721

25,029,894

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

185,529

116,924

413,266

1,662,094

20,695,791
19,413,111
1,282,680
19,385,205
11,494,979
7,890,226
1,310,586
1,246,332
611,742
634,590
304,072
1,267,253
839,218
119,176
210,331
274,233
0
609,367

635,253

880,026

852,768

874,938

1,329,925
348,600
404,065
0

6,169,017
198,145
419,277
34,940

5,537,975
94,800
0
110,060

(307,889)
10,000
0
0

1,370,630
1,034,553
5,950,925
1,831,382
274,233
0
(756,323)

8,752,949
0
577,260
1,607,879

19,672,797
0
5,551,595
1,281,708

30,517,272
0
5,443,175
401,019

28,576,972
0
(317,889)
3,137,819

34,378,845
7,970,577
3,845,310
8,401,085

37,948,579
7,956,291
(365,388)
8,467,730

1.23
2.27
9.61
0.70
1.87
83.43
0.50
13.77
20.98
19.37
2.43
7.14

2.23
1.17
8.21
0.44
3.15
84.30
0.66
35.98
57.59
43.40
14.24
6.07

3.93
3.54
11.03
0.35
5.22
87.11
0.84
19.74
34.78
22.07

1.56
11.62
10.65
0.41
2.41
93.40
1.15
-0.90
-1.79
-1.04

1.13
8.66
12.84
0.43
3.91
94.93
0.54
16.61
29.74
18.91
15.02
3.53
6.75
37.59
-0.06
48.82
281.40

1.06
6.12
9.41
0.51
3.21
93.67
0.49
0.31
0.47
0.33
-0.33
4.97
1.14
0.58
0.05
-1.08
325.67

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

456

5.30

3.92

16.29
0.00
14.04
110.94

61.70
0.00
85.45
195.66

47.39
0.00
74.18
247.65

-2.15
0.00
-3.77
192.85

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

190,106

187,602

217,734

212,030

215,864

190,141
190,106
3,572
0

192,646
187,602
4,448
0

188,319
217,734
7,561
0

232,043
212,030
8,122
0

241,039
213,278
7,796

224,906
9,707
250,223
214,983
7,984

81,754
22,272
36,271
19,418
0
3,793
31,453
0
31,453
0

102,090
21,031
47,149
28,194
0
5,716
34,181
0
34,181
0

117,196
20,886
60,256
28,747
0
7,307
46,900
3,714
43,186
17,284

139,440
16,538
74,973
37,124
0
10,805
61,470
4,275
57,195
12,994

2,586
136,569
12,404
65,329
43,615
0
15,221
33,752

216
155,666
5,906
79,329
44,687
0
25,744
41,247

0
240,407
25,000
25,000
0
215,407

33,752
17,948

41,247
10,063

0
255,511
25,000
25,000
0
230,511

17,284
270,746
25,000
25,000
0
245,746

12,994
277,006
25,000
25,000
0
252,006

0
0
17,948
300,733
37,500
37,500
0
113,567

113,567
149,666

142,664
149,098

173,524
173,524
0
124,638

227,670
227,670
0
161,939

221,961
221,961
0
160,638

241,726
241,726
0
183,174

312,029
312,029

322,026
322,026

48,886
13,026

65,731
18,320

61,323
17,676

58,552
18,018

10,063
329,262
37,500
37,500
0
142,664

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

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

35,678
12,010
0
0

48,229
16,872
17,500
0

42,791
0
17,500
0

39,440
14,793
10,000
12,500

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
20,335

240,407
0
23,668
0

255,511
0
13,857
0

288,030
0
25,291
3,714

290,000
0
14,647
4,275

318,681
0
23,862
0

339,325
0
26,655
0

1.33
0.28
11.19
0.64
2.60
71.83
0.13
19.29
23.21
22.95

1.44
0.13
12.38
0.79
2.99
71.13
0.13
17.18
19.45
19.45
1.79
4.83

1.06
1.01
12.95
0.66
2.50
72.37
0.24
13.70
16.26
15.75
2.45
3.68

0.87
1.04
15.36
0.69
2.27
75.78
0.27
11.49
14.40
13.65
2.46
3.22

1.66
0.98
13.98
0.89
4.05
77.31
0.17
13.15
16.02
15.21
4.18
4.78
53.65
14.83
0.39
8.36
80.20

1.23
0.82
13.88
0.85
3.77
75.78
0.16
14.19
16.51
15.81
3.84
4.06
39.73
16.15
0.44
9.61
87.80

13,026

18,320

17,676

18,018

491

289

2,252

2,510

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.78

457

20.56
0.00
9.47
96.16

21.18
0.00
12.54
102.20

19.28
0.00
17.12
108.30

16.32
0.00
9.86
110.80

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,372,997

1,310,034

1,244,199

1,205,059

1,585,023
1,372,997
93,951
0

1,615,514
1,310,034
95,539
0

1,648,193
1,244,199
98,514
0

1,697,237
1,205,059
101,265
0

818,547
154,955
143,543
110,628
354,213
55,208
172,794
0
172,794
0

1,182,166
185,127
169,947
108,132
167,043
551,917
189,063
0
189,063
0

1,584,043
178,977
228,250
63,777
270,117
842,922
280,464
0
280,464
0

1,989,340
158,074
273,409
264,137
388,267
905,453
402,078
1,338
400,740
4,848

0
2,018,750
219,818
219,818
0
1,798,932

(Thousand Rupees)
2009
2010
1,281,461
3,044
1,857,123
1,261,660
103,793

1,261,622

16,757
2,166,062
69,388
261,420
290,289
0
1,544,965
337,016

17,258
2,372,344
49,757
357,767
203,020
0
1,761,800
367,021

1,948,628
1,244,364
114,490

337,016
140,616

367,021
156,260

0
2,303,137
219,818
219,818
0
2,083,319

0
2,547,778
285,763
285,763
0
2,262,015

4,848
2,787,473
342,916
342,916
0
2,444,557

0
0
140,616
2,969,891
411,499
411,499
0
2,556,845

2,556,845
1,547

2,699,186

1,126,963
1,126,963
0
633,680

1,104,666
1,104,666
0
645,295

1,099,009
1,099,009
0
643,843

1,177,859
1,177,859
0
711,359

1,129,070
1,129,070

1,152,511
1,152,511

493,283
83,280

459,371
86,655

455,166
88,777

466,500
100,865

156,260
3,110,685
411,499
411,499
0
2,699,186

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

668,808
320,634
348,174
460,262
167,681

694,332
308,263
386,069
458,179
149,565

83,280

86,655

88,777

100,865

149,565
236,849
1,875
1,432
520,257
172,166
205,750
0
286,335

430,796
130,183
120,900
0

435,962
109,892
65,945
65,945

454,163
135,164
85,729
57,153

477,452
140,142
102,875
68,583

167,681
189,562
1,787
1,626
493,211
161,056
205,750
0
288,243

2,018,750
0
179,713
0

2,303,137
0
260,125
0

2,547,778
0
233,270
0

2,792,321
0
234,435
1,338

3,110,507
0
126,406
0

3,266,945
0
142,342
0

3.59
0.01
9.82
0.51
4.74
56.23
0.09
20.88
22.99
22.99
2.49
7.85

2.43
0.02
9.79
0.44
6.25
58.42
0.08
18.62
20.17
20.17
4.94
6.50

1.83
0.01
5.80
0.39
5.65
58.58
0.11
17.07
18.72
18.72
3.72
4.81

2.02
0.04
22.43
0.37
4.95
60.39
0.15
15.86
17.90
17.88
3.28
4.31

1.07
0.16
25.71
0.33
6.43
59.24
0.16
14.85
17.13
16.71
1.61
4.32
304.33
43.68
0.60
8.07
72.17

0.69
0.16
17.62
0.32
6.46
60.25
0.17
14.69
17.11
16.32
1.69
3.22
364.31
45.14
0.55
8.46
75.59

107

170

126

527

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

458

38.23
0.00
13.68
91.84

39.47
0.00
14.83
104.77

41.32
0.00
11.16
89.16

40.54
0.00
9.84
81.29

ELECTRICAL MACHINERY AND APPARATUS

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,276,256

6,477,423

8,499,498

7,471,960
4,971,421
347,026
304,835

8,590,256
5,841,762
410,069
635,661

11,085,144
7,906,371
544,027
593,127

15,162,319
2,205,484
5,736,715
4,601,843
76,969
2,541,308
12,824,415
4,498,422
8,325,993
717,159

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

27,430,373
4,241,685
7,747,723
11,169,330
76,300
4,195,335
22,106,254
7,428,879
14,677,375
1,964,076

717,159
6,897,001
1,801,858
1,196,858
605,000
5,095,143

696,194
7,857,682
1,939,693
1,334,693
605,000
5,917,989

1,964,076
11,859,541
2,258,528
1,653,528
605,000
9,601,013

11,289,695
0
14,168,490
10,698,965
660,410
587,306
3,424
0
37,353,866
4,159,527
10,425,175
16,927,798
144,522
5,696,844
30,623,393
7,143,418
23,479,975
3,288,182
86,708
0
0
0
3,201,474
14,731,986
2,466,022
1,939,772
526,250
12,154,980
0
(61,986)
110,984

19,904,242
128,627
20,927,684
16,707,172
612,257
522,249
194,121
2,352,073
32,725,016
1,948,194
9,362,178
18,172,862
80,859
3,160,923
27,181,551
5,580,304
21,601,247
8,266,180
4,451,131
66,319
0
21,706
3,727,024
17,181,527
2,413,651
2,413,651
0
9,733,929
916,999
8,653,487
5,033,947

20,308,812
188,688
22,280,029
17,226,825
1,113,774
464,098
184,662
2,244,539
35,857,336
2,065,850
10,621,963
20,022,204
81,357
3,065,962
29,076,297
6,665,140
22,411,157
9,021,516
5,363,189
71,636
0
20,065
3,566,626
18,068,335
2,519,208
2,519,208
0
10,285,824
917,896
9,171,374
5,263,303

26,859,421
26,194,042
665,379
22,901,067

39,348,089
39,040,616
307,473
33,930,825

44,493,378
44,207,530
285,848
37,599,822

3,958,354
2,114,384

5,417,264
2,799,977

6,893,556
3,223,428

45,938,809
23,913,194
22,025,615
39,560,587
6,798,305
32,762,282
6,378,222
3,033,308
1,889,635
1,143,673
3,429,402
1,261,239
400,617
2,558,610
884,203
771,367
1,042,684
(461,772)

48,791,137
37,317,376
11,473,761
40,242,403
14,350,357
25,892,046
8,548,734
4,537,843
2,836,164
1,701,679
4,045,928
2,368,582
937,343
2,024,190
942,831
3,828,462
1,180,444
919,828

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,932,748
564,697
326,524
159,358

2,350,604
1,046,138
536,208
323,304

3,089,860
1,074,638
792,228
270,306

48,962,825
48,408,281
554,544
41,042,290
660,538
54,383
7,920,535
3,840,862
6,924
3,833,938
30,381
1,542,308
1,894
3,336,586
973,493
742,230
53,970
14,745

7,614,160
0
1,041,527
4,498,422

8,553,876
0
768,258
6,084,953

13,823,617
0
1,222,994
7,428,879

18,020,168
86,708
1,620,863
7,230,126

25,447,707
4,451,131
903,040
10,031,435

27,089,851
5,363,189
(2,747,103)
12,028,329

0.63
3.02
22.95
1.40
1.11
86.23
2.57
9.70
31.86
29.08
2.43
5.93

0.70
3.40
25.10
1.24
1.24
84.51
2.03
9.66
31.34
27.62
2.54
5.74

0.69
3.15
34.57
1.01
1.22
83.82
2.30
7.89
25.10
20.96
3.18
4.70
1,762.66
6.81
0.00
12.18
75.95

0.74
2.75
39.56
0.87
1.20
86.12
2.06
5.05
16.03
11.77
2.17
4.91
7.39
5.57
-0.01
6.94
71.18

0.76
4.85
41.04
0.87
1.23
82.48
2.11
3.72
11.48
7.71
0.28
4.59
3.16
4.15
0.02
4.29
71.72

2,114,384

2,799,977

3,223,428

648,858

1,188,572

1,511,363

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.54
2.42
17.13
1.31
1.18
85.26
1.96
10.97
31.10
27.33
4.19
4.68

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

461

7.20
0.00
11.43
57.63

5.97
0.00
9.77
58.87

6.94
0.00
12.19
71.72

Billion Rs

Growth with Composition of Assets & Liabilites

40
35
30
25
20
15
10
5
0

12%
9.6%

10%

9.1%

7.0%

8%
5.2%

6%
4%

2%

2.0%

0%
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

Growth
40%

60
34.0%

Billion Rs

50

30%

20%

40

10%

30

0%

6.2%

20

-10%
-20.9%

10

-20%

-30%
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
16.03

2009

2010

2009

11.48

11.77

5.57

5
7.71

5.05

6.94

2010

3.72

Percentage

Percentage

18
16
14
12
10
8
6
4
2
0

Net Profit Before Tax

4.15

4.29

3
2

2.06
1.2

2.11

1.23

Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

38,044

35,968

38,058

40,704

54,907

105,574
38,044
4,166
0

0
35,968
0
0

112,340
38,058
4,343
0

119,389
40,704
4,699
0

138,978
54,907
84,070

157,255
66,101
91,154

78,315
15,895
3,264
36,569
0
22,587
45,733
413
45,320
0

228,564
34,797
3,265
163,642
0
26,860
188,865
0
188,865
0

344,732
263,757
3,265
65,515
0
12,195
312,961
0
312,961
0

280,290
114,400
128,457
128,457
15,960
(106,984)
243,376
0
243,376
0

0
492,297
226,438
3,265
205,997
16,488
40,109
411,201

2,111
306,037
122,032
3,265
121,520
17,385
41,835
221,493

0
70,626
65,826
65,826
0
4,800

0
75,667
65,826
65,826
0
9,841

0
69,829
65,826
65,826
0
4,003

0
77,618
65,826
65,826
0
11,792

298,361
298,361
0
262,911

359,670
359,670
0
323,888

790,611
790,611
0
702,616

336,974
336,974
0
284,836

35,450
27,107

35,782
24,166

87,995
66,091

52,138
43,389

68,212

411,201
6,026

221,493
2,760
0
0
0
2,760

2,491
3,535
129,977
65,826
65,826
0
64,151
1,488
62,663

149,996
65,826
65,826
0
84,170
2,385
81,785

795,783
795,783

535,180
535,180

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

408,646
352,040
56,606
126,534
85,160
25,260
59,900
17,092
1,520
704
49,187
16,900
0
0
(81,531)

9,324
1,492
0
0

12,749
1,835
0
0

23,175
6,166
0
0

12,338
6,027
0
0

647,225
577,996
69,229
148,558
82,111
41,376
40,735
14,033
673
183
76,366
24,536
13,165
0
131,768

70,626
0
7,832
413

75,667
0
10,914
0

69,829
0
17,009
0

77,618
0
6,311
0

136,003
0
38,665
0

152,756
0
32,287
0

1.06
0.21
38.12
1.05
1.15
84.53
3.14
3.51
16.74
16.74

1.09
0.08
25.89
1.45
1.20
81.33
3.21
17.59
73.57
71.50
3.94
243.73
418.30
9.60
0.32
7.87
19.75

1.18
0.28
22.71
1.43
1.38
76.36
1.50
10.68
35.14
34.07

27,107

24,166

66,091

43,389

1,113

841

1,211

710

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.15
0.37
12.26
2.56
1.71
88.12
0.65
8.08
14.46
14.46

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

463

1.05
0.23
45.50
1.36
1.21
90.05
2.50
6.69
17.43
17.43

1.05
0.15
8.29
2.07
1.10
88.87
4.48
7.16
31.86
31.86

91.41

110.16

242.15

2.62

3.13
0.00
1.19
10.73

3.54
0.00
1.66
11.50

2.93
0.00
2.58
10.61

3.66
0.00
0.96
11.79

163.91
70.87
9.19
-0.36
4.90
22.79

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

114,991

122,845

124,414

219,850

210,599

136,873
114,991
5,702
0

151,967
122,845
1,109
0

162,242
124,414
8,798
0

254,064
219,850
10,126
0

250,021
209,386
9,827

253,640
199,475
9,986

84,588
3,862
38,116
9,180
0
33,430
163,812
29,103
134,709
14,978

113,762
3,826
40,935
14,935
0
54,066
210,173
1,439
208,734
3,506

189,695
10,252
43,825
55,472
9,000
71,146
178,318
0
178,318
94,606

206,224
14,232
58,693
30,900
9,000
93,399
177,889
10,300
167,589
79,199

14,978
20,789
54,500
54,500
0
(33,711)

3,506
22,928
54,500
54,500
0
(31,572)

94,606
41,185
54,500
54,500
0
(13,315)

79,199
168,986
54,500
54,500
0
114,486

1,213
173,548
4,110
64,088
30,902
0
74,448
208,016
66,200
141,816
74,398
0
66,319
0
0
8,079
101,733
54,500
54,500
0
(84,476)
29,727
(114,203)
131,709

1,561
175,583
5,574
74,664
24,974
0
70,371
204,314
66,200
138,114
78,054
0
71,636
0
0
6,418
94,251
54,500
54,500
0
(90,704)
29,727
(120,431)
130,455

162,722
162,722
0
131,529

233,283
233,283
0
207,491

377,443
377,443
0
309,295

249,844
249,844
0
193,771

133,741
133,741

127,181
127,181

31,193
19,450

25,792
27,049

68,148
34,989

56,073
26,804

201,036

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

19,450

27,049

34,989

26,804

4,356

5,650

9,964

9,520

20,266
814
0
0

6,917
1,166
0
0

24,820
1,889
0
0

24,977
1,273
0
0

35,767
0
19,452
29,103

26,434
0
5,751
1,439
0.09
2.42
6.40
0.99
0.54
88.94
9.32
3.17
31.64
22.24

128,499
94,800
33,699
5,242
25,099
4,422
20,677
20,579
9,544
966
(17,158)
676

102,431
85,181
17,250
24,750
30,138
5,300
24,838
19,148
8,068
60
(6,845)
1,314

7,187
4,105

7,187
10,818

135,791
0
22,931
0

248,185
0
23,704
10,300

176,131
0
(17,834)
66,200

172,305
0
(8,159)
66,200

0.42
2.64
14.70
1.20
1.06
81.94
6.63
9.01
77.43
30.60

0.30
3.81
12.37
0.59
1.16
77.56
1.52
6.75
23.77
13.01

0.17
7.14
23.11
0.35
0.83
96.08
2.78
-4.24
-12.68
-8.09

0.15
6.34
19.64
0.34
0.86
80.54
3.00
-1.80
-6.99
-3.93

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

0.08
2.68
5.64
0.82
0.52
80.83
8.60
10.21
184.11
56.34

1.Acid test or quick ratio[(B1+B3+B4) to C]

2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

464

4.27

5.70

8.61

4.26

2.09
-16.76
-12.83
0.01
-3.27
18.67

1.70
-113.08
-5.38
0.04
-1.50
17.29

12.45
0.00
3.57
3.81

2.97
0.00
1.06
4.21

6.58
0.00
4.21
7.56

10.00
0.00
4.35
31.01

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,966,281

3,747,369

4,628,083

6,804,746

14,083,330

3,759,289
2,716,401
146,621
249,880

4,346,617
3,144,904
162,275
602,465

5,425,576
4,046,378
201,238
581,705

7,768,802
6,231,129
216,451
573,617

5,045,416
335,261
1,956,566
1,853,889
60,711
838,989
4,714,767
3,292,825
1,421,942
512,264

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

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

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

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
1,674,664
7,191,289
4,334,131
2,857,158
7,183,256
4,079,149
0
0

16,129,509
13,434,709
698,015
457,744
13,447
75,515
11,548,724
343,753
5,652,089
3,924,775
0
1,628,107
9,005,974
5,413,223
3,592,751
7,795,559
4,954,333
0
0

512,264
2,784,666
1,136,194
531,194
605,000
1,648,472

432,852
3,146,963
1,215,173
610,173
605,000
1,931,790

1,501,246
4,064,615
1,368,591
763,591
605,000
2,696,024

2,570,444
5,642,986
1,496,677
970,427
526,250
4,146,309

3,104,107
8,560,675
1,593,720
1,593,720
0
2,593,186

2,841,226
8,728,606
1,668,264
1,668,264
0
2,897,716

2,461,255
4,373,769

2,733,582
4,162,626

8,075,382
7,947,333
128,049
6,585,989

11,042,160
10,885,856
156,304
8,994,493

13,077,670
12,939,700
137,970
10,547,806

12,651,993
12,561,896
90,097
9,801,897

1,489,393
656,122

2,047,667
878,002

2,529,864
997,966

2,850,096
1,357,315

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

17,522,656
17,263,428
259,228
13,814,754
11,070,227
2,744,527
3,707,902
1,879,308
1,057,011
822,297
958,267
1,623,611
741,194
261,208
72,184

13,981,415

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

656,122

878,002

997,966

1,357,315

450,888

742,130

937,109

972,618

442,397
51,738
53,120
159,358

516,751
50,000
0
303,793

707,409
59,067
0
190,898

634,525
39,876
0
0

3,296,930
0
337,539
3,292,825

3,579,815
0
466,751
4,221,968

0.48
5.58
22.96
1.01
1.07
81.56
1.88
5.99
16.88
13.55
7.35
4.13

0.47
6.72
23.68
1.09
0.97
81.46
2.21
5.70
17.42
15.03

808,581
1,170,983

915,328
2,729,134

5,565,861
0
648,342
3,289,151

8,213,430
0
594,649
4,078,256

15,743,931
4,079,149
161,251
8,413,280

16,524,165
4,954,333
189,024
10,367,556

0.58
7.17
22.54
1.13
1.16
80.66
1.84
6.53
19.62
15.47

0.58
7.69
33.26
0.78
1.17
77.47
1.89
4.56
13.07
9.21

0.47
13.38
69.68
0.20
1.23
67.98
1.68
1.13
3.12
1.85

0.47
9.27
22.40
0.69
1.28
78.84
1.92
1.08
3.02
1.62

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

465

4.29

5.22

3.54

1.21
1.99
4.79
0.08
1.01
53.72

3.10
1.35
1.49
0.16
1.13
52.32

5.48
0.00
7.35
52.42

4.68
0.00
7.65
51.57

5.41
0.00
8.49
53.23

5.02
0.00
6.13
58.15

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

756,619

995,226

1,215,459

1,643,567

1,007,896
756,619
17,307
0

1,274,921
995,226
33,138
0

1,549,328
1,215,459
59,391
0

2,030,932
1,643,567
73,044
0

1,055,999
26,463
723,868
246,216
9,110
50,342
955,596
439,561
516,035
0

1,723,036
248,021
984,364
392,953
37,401
60,297
1,598,590
653,110
945,480
84,999

1,763,662
7,391
1,133,430
504,951
47,932
69,958
1,691,576
1,026,510
665,066
135,784

1,702,333
23,743
1,018,606
397,375
66,617
195,992
1,736,609
1,151,773
584,836
270,770

0
857,022
58,534
58,534
0
798,488

84,999
1,034,673
97,556
97,556
0
937,117

135,784
1,151,761
146,334
146,334
0
1,005,427

270,770
1,338,521
195,112
195,112
0
1,143,409

2,333,924
2,333,924
0
2,014,446

3,492,213
3,492,213
0
2,997,092

4,810,838
4,810,838
0
4,196,627

4,442,611
4,442,611
0
4,072,731

319,478
120,891

495,121
174,547

614,211
247,212

369,880
369,382

(Thousand Rupees)
2009
2010
753,477
91,608
916,682
493,340
21,632
0
167,791
738
559,658
35,036
203,171
84,050
63,828
173,573
524,513
214,684
309,829
339,086
133,334
0
0
0
205,752
449,536
63,888
63,888
0
256,592
256,592
0
129,056

753,477
91,608
916,682
493,340
21,632
0
167,791
738
559,658
35,036
203,171
84,050
63,828
173,573
524,513
214,684
309,829
339,086
133,334
0
0
0
205,752
449,536
63,888
63,888
0
256,592
256,592
0
129,056
1,803,234
1,803,234
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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

170,267
44,158
26,149
0

261,214
49,190
23,414
19,511

293,276
68,346
49,998
48,778

53,607
19,695
0
19,511

1,803,234
1,803,234
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

857,022
0
99,960
439,561

1,119,672
0
188,610
653,110

1,287,545
0
174,932
1,026,510

1,609,291
0
33,912
1,151,773

788,622
133,334
187,386
348,018

788,622
133,334
187,386
348,018

0.29
1.58
10.55
1.29
1.11
86.31
1.12
12.87
31.86
31.86
4.82
3.22

0.42
2.21
11.25
1.28
1.08
85.82
1.63
11.53
27.62
26.43
9.06
3.55

0.33
2.33
10.50
1.61
1.04
87.23
1.59
10.30
26.83
24.37
4.50
4.24

0.35
4.80
4.66
1.37
1.07
81.61
1.92
9.20
23.96
17.87
12.73
8.88
3.50
11.88
0.03
31.83
70.36

0.35
4.80
4.66
1.37
1.07
81.61
1.92
16.31
47.65
27.16
12.73
8.88
3.50
11.88
0.03
31.83
70.36

120,891

174,547

247,212

369,382

36,887

77,203

112,052

130,378

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

466

0.28
2.93
8.94
1.33
0.98
91.67
1.50
1.70
4.31
3.70

4.36

7.30
0.00
21.54
146.41

7.48
0.00
21.73
106.06

6.10
0.00
15.37
78.71

1.21
0.00
1.74
68.60

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

339,550

386,167

356,429

353,305
339,547
15,825
3

434,199
386,165
35,407
2

438,913
356,428
36,250
1

303,470
1,495
150,315
41,365
0
110,295
428,839
115,695
313,144
4,783

270,714
9,847
135,253
13,107
0
112,507
369,439
135,477
233,962
25,133

300,578
2,825
188,791
68,036
0
40,926
393,828
94,853
298,975
10,857

4,783
209,398
210,000
210,000
0
(602)

25,133
262,309
210,000
210,000
0
52,309

10,857
252,322
210,000
210,000
0
42,322

341,947
0
451,649
338,523
113,125
0
3,424
0
311,005
4,599
212,174
57,935
0
36,297
240,214
100,761
139,453
153,740
86,708
0
0
0
67,032
258,998
210,000
210,000
0
(61,986)
0
(61,986)
110,984

313,090
2,144
451,761
307,522
31,113
0
3,424
0
267,581
1,286
210,617
28,273
0
27,405
276,990
77,583
199,407
148,097
95,522
0
0
0
52,575
155,584
210,000
210,000
0
(157,971)
0
(157,971)
103,555

313,090
2,144
451,761
307,522
31,113
0
3,424
0
267,581
1,286
210,617
28,273
0
27,405
276,990
77,583
199,407
148,097
95,522
0
0
0
52,575
155,584
210,000
210,000
0
(157,971)
0
(157,971)
103,555

786,487
786,487
0
737,154

1,043,653
1,043,653
0
1,013,276

772,689
772,689
0
720,043

49,333
32,117

30,377
28,374

52,646
30,924

125,243
125,243
0
165,327
140,247
25,080
(40,084)
25,387
2,125
23,262
20,622
31,220
1,132
(79,841)
6,127
0
0
41,743

125,243
125,243
0
165,327
140,247
25,080
(40,084)
25,387
2,125
23,262
20,622
31,220
1,132
(79,841)
6,127
0
0
41,743

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

5,343
3,414
0
0

(12,829)
4,619
0
0

(5,953)
4,620
0
0

783,545
783,545
0
714,921
660,538
54,383
68,624
38,206
6,924
31,282
30,381
30,039
1,894
11,635
6,396
0
0
14,745

214,181
0
1,929
115,695

287,442
0
(17,448)
135,477

263,179
0
(10,573)
94,853

412,738
86,708
5,239
187,469

303,681
95,522
(85,968)
173,105

303,681
95,522
(85,968)
173,105

0.10
1.58
5.26
1.22
0.71
93.73
2.07
1.07
2.72
2.60

0.06
1.97
1.26
1.59
0.73
97.09
1.50
-1.97
-5.44
-5.11

0.18
4.18
8.81
1.18
0.76
93.19
1.60
-0.91
-2.31
-2.16

0.26
3.83
7.39
1.20
1.29
91.24
1.52
1.78
4.55
3.44

0.11
24.93
22.57
0.22
0.97
132.00
2.73
-12.94
-38.52
-22.29

0.11
24.93
22.57
0.22
0.97
132.00
2.73
-13.75
-51.32
-26.29

32,117

28,374

30,924

12,397

20,607

32,322

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

467

5.23

7.72

4.09

3.69
7.14
1.48
0.04
0.25
12.33

0.59
-69.53
-63.75
0.10
-4.09
7.41

0.59
-69.53
-63.75
0.10
-4.09
7.41

0.68
0.00
0.09
9.97

-1.23
0.00
-0.83
12.49

-0.77
0.00
-0.50
12.02

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

657,268

770,362

1,539,375

1,595,715

1,421,903
602,876
128,276
54,392

1,664,629
737,990
152,186
32,372

2,508,738
1,532,620
199,333
6,755

2,679,656
1,589,664
205,733
6,051

7,231,227
1,743,760
2,337,479
1,760,093
0
1,389,895
5,399,590
104,584
5,295,006
0

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

16,041,641
3,311,908
3,166,741
6,634,051
0
2,928,941
12,229,594
2,357,180
9,872,414
0

23,179,667
3,407,239
4,588,682
11,127,285
0
4,056,461
18,487,125
907,909
17,579,216
0

0
2,488,905
77,696
77,696
0
2,411,209

0
2,730,196
77,696
77,696
0
2,652,500

0
5,351,422
82,470
82,470
0
5,268,952

0
6,288,257
82,470
82,470
0
6,205,787

13,374,521
12,856,845
517,676
11,609,926

20,998,187
20,866,564
131,623
18,546,430

22,238,975
22,133,548
105,427
19,113,846

27,236,492
26,792,225
444,267
23,222,631

1,764,595
1,067,639

2,451,757
1,428,822

3,125,129
1,557,403

4,013,861
1,668,285

(Thousand Rupees)
2009
2010
3,878,182
8,686
2,926,093
1,653,814
214,154
6,032
0
2,209,650
20,380,263
1,403,094
4,367,431
13,583,392
0
1,026,346
17,149,395
155,706
16,993,689
197,857
0
0
0
14,042
183,815
6,911,193
82,470
82,470
0
6,828,723
624,192
6,204,531
0

3,794,372
62,009
3,041,230
1,616,513
226,575
2,747
0
2,113,103
20,746,763
1,396,266
3,734,297
14,665,339
0
950,861
17,201,035
16,108
17,184,927
171,675
0
0
0
13,376
158,299
7,168,425
82,470
82,470
0
7,085,955
624,192
6,461,763
0
26,248,842
15,086,819
11,162,023
22,373,565
1,151,734
21,221,831
3,875,277
2,111,291
1,483,080
628,211
2,698,737
430,462
67,598
1,578,253
819,640
742,230
0
(1,689,177)
7,340,100
0
16,383
16,108

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

1,232,899
444,020
233,088
0

1,508,320
926,049
512,794
0

1,964,574
913,864
742,230
0

2,564,203
885,135
742,230
0

36,149,390
14,202,375
21,947,015
32,164,974
1,537,010
30,627,964
3,984,416
1,851,736
1,308,787
542,949
2,691,697
336,644
45,843
2,144,439
779,270
742,230
0
(1,871,088)

2,488,905
0
555,791
104,584

2,730,196
0
69,477
503,690

5,351,422
0
308,480
2,357,180

6,288,257
0
936,838
907,909

7,109,050
0
622,939
155,706

0.65
0.70
13.16
1.70
1.34
86.81
2.17
19.15
53.09
53.09
3.38
5.72

0.79
1.26
24.28
1.74
1.21
88.32
3.42
15.13
57.80
57.80
1.14
9.19

0.81
1.43
29.83
1.26
1.31
85.95
2.29
13.26
48.62
48.62
1.42
7.02

0.79
0.93
40.85
1.10
1.25
85.26
2.94
12.11
44.06
44.06
2.26
5.94

0.87
0.93
37.58
1.49
1.19
88.98
2.51
8.75
32.49
32.01
1.84
8.28
47.78
5.93
-0.11
165.54
838.03

1,067,639

1,428,822

1,557,403

1,668,285

94,107

264,894

316,939

253,792

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

468

9.22
0.00
101.53
320.34

7.18
0.00
74.94
351.39

8.83
0.00
127.41
648.89

9.41
0.00
203.60
762.49

0.93
1.64
55.87
1.07
1.21
85.24
2.42
6.47
22.42
21.85
1.02
7.03
24.35
6.01
-0.10
91.99
869.22

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

99,808

111,134

161,581

219,851

229,506
99,248
11,538
560

249,367
110,312
11,535
822

306,043
156,915
13,627
4,666

278,569
212,213
18,048
7,638

942,177
61,307
229,383
588,760
7,148
55,579
673,774
401,007
272,767
142,381

1,125,511
72,534
305,452
675,897
7,026
64,602
831,445
467,799
363,646
149,704

1,401,045
99,413
393,286
808,842
6,894
92,610
951,707
546,347
405,360
221,583

1,640,092
129,094
501,985
887,628
0
121,385
1,204,838
762,763
442,075
213,208

142,381
225,830
113,339
113,339
0
112,491

149,704
255,496
133,173
133,173
0
122,323

221,583
389,336
245,038
245,038
0
144,298

213,208
441,897
275,668
275,668
0
166,229

1,197,188
1,197,188
0
982,310

1,568,992
1,568,992
0
1,288,917

1,744,173
1,744,173
0
1,385,837

2,349,836
2,349,836
0
1,901,382

214,878
132,380

280,075
170,703

358,336
219,330

448,454
259,600

(Thousand Rupees)
2009
2010
263,289
26,189
370,124
184,310
21,121
5,083

47,707
1,609,991
142,665
456,583
923,587
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
162,849
5,000
126,337

716,495
32,927
822,674
629,062
22,547
3,607
0
50,899
1,831,867
159,056
510,200
1,053,140
0
109,471
1,339,354
817,857
521,497
402,496
180,000
0
0
3,929
218,567
806,512
341,140
341,140
0
159,757
5,000
122,337
305,615

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

188,474
28,734

2,158,168
2,105,658
52,510
1,656,501
122,413
1,534,088
501,667
294,176
237,933
56,243
154,766
176,516
40,817
39,940
12,019
3,070,260
219,487
(103,192)

610,919
0
44,609
546,347

655,105
0
57,399
762,763

712,951
143,126
15,503
816,035

1,209,008
180,000
(3,042,339)
997,857

0.96
4.92
46.37
1.12
1.47
79.46
3.01
4.45
19.31
12.25

0.84
5.34
37.77
1.26
1.36
80.92
3.21
4.02
16.55
10.87

0.92
8.26
46.19
1.07
1.39
78.02
2.96
1.11
4.53
3.03

0.91
8.18
48.80
0.85
1.37
76.75
2.16
1.81
6.24
4.16
0.01
4.23
1.98
1.85
-0.06
0.82
23.64

132,380

170,703

219,330

259,600

44,885

70,915

85,876

125,422

41,645
15,832
14,167
0

44,069
11,239
0
0

62,253
17,644
0
30,630

68,790
11,391
0
34,459

368,211
0
11,646
401,007

405,200
0
32,830
467,799

0.98
3.75
49.18
1.15
1.40
82.05
3.61
4.42
18.90
12.23
1.82
5.22

0.91
4.52
43.08
1.27
1.35
82.15
3.84
3.87
18.31
11.40

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

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

469

5.14

4.43

4.68

4.38
1.49
1.04
0.02
0.50
15.25

3.48
0.00
2.28
19.93

2.81
0.00
2.47
19.19

3.57
0.00
1.82
15.89

2.93
0.00
2.08
16.03

Financial Statement Analysis of Non Financial Sector 2010

The Climax Engineering Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

253,888

243,612

374,597

360,420

347,368

293,102
253,888
12,874
0

294,444
243,612
11,618
0

406,859
374,597
16,817
0

406,432
360,420
15,317
0

406,527
346,755
13,760

507,278
480,103
12,752

327,767
11,882
242,968
39,463
0
33,454
362,876
66,448
296,428
42,725

351,888
23,878
246,938
32,418
0
48,654
349,332
48,038
301,294
0

363,552
1,384
251,860
53,634
0
56,674
286,246
59,826
226,420
0

375,203
6,760
250,946
58,517
0
58,980
309,803
58,781
251,022
821

613
389,788
12,302
230,279
89,442
543
57,222
259,818
59,091
200,727
77,485

42,725
176,054
33,120
33,120
0
142,934

0
246,168
33,120
33,120
0
213,048

0
451,903
33,120
33,120
0
418,783

821
424,999
33,120
33,120
0
391,879

77,485
399,853
33,120
33,120
0
70,875

612
421,123
2,847
233,660
120,133
144
64,339
302,624
59,485
243,139
83,789
0
0
0
0
83,789
515,425
33,120
33,120
0
50,309

70,875
295,858

50,309
431,996

262,681
262,681
0
246,044

224,103
224,103
0
210,108

232,847
232,847
0
219,725

226,242
226,242
0
217,614

300,511
300,511

270,633
270,633

16,637
33,893

13,995
41,158

13,122
39,828

8,628
38,576

480,715

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

33,893

41,158

39,828

38,576

819

873

6,954

9,200

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

1,259
1,227
0
0

8,942
1,090
0
0

14,291
1,157
0
0

(37,922)
1,100
0
0

(22,024)
(3,122)
0
32,053
5,106

(31,930)
3,787
0
32,053
(14,844)

218,779
0
32
66,448

246,168
0
7,852
48,038

451,903
0
13,134
59,826

425,820
0
(39,022)
58,781

477,338
0

599,214
0
(35,717)
59,485

0.14
0.31
15.02
0.45
0.90
93.67
2.30
0.22
0.69
0.53

0.16
0.39
14.47
0.38
1.01
93.76
1.42
1.52
4.24
3.85

0.19
2.99
23.03
0.32
1.27
94.36
0.63
2.14
4.09
4.09

0.21
4.07
25.86
0.31
1.21
96.19
0.73
-5.15
-8.65
-8.64

0.39
3.82
29.76
0.41
1.50
91.38
0.84
-2.99
-5.34
-4.88

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

59,091

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

470

0.41
3.91
44.39
0.30
1.39
92.21
0.75
-3.90
-6.98
-5.93

1.08

0.91

0.92

0.90

1.30

1.16

0.48
0.00
0.01
53.16

3.99
0.00
2.37
74.33

6.14
0.00
3.97
136.44

-16.76
0.00
-11.78
128.32

-7.33
0.02

-11.80
-0.04
-10.78
155.62

120.73

OTHER SERVICES ACTIVITIES

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

13,415,318

14,001,837

15,907,712

16,308,599

16,330,274
13,415,318
324,943
0

17,127,632
14,001,489
387,803
348

19,282,729
15,906,208
380,235
1,504

20,127,519
16,297,834
466,305
10,765

3,687,090
373,392
316,607
253,237
490,797
2,253,057
3,323,142
919,042
2,404,100
1,435,351

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

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

13,174,698
1,894,262
1,574,736
1,792,733
6,829,502
1,083,465
7,055,158
919,280
6,135,878
2,374,021

499,700

304,489

99,940

1,499,400

935,651
12,343,915
1,576,362
1,576,362
0
10,767,553

731,042
13,312,989
1,582,962
1,582,962
0
11,730,027

920,946
18,058,252
3,777,931
3,777,931
0
14,280,321

874,621
20,054,118
3,808,698
3,808,698
0
16,245,420

8,357,859
7,658,455
699,404
6,295,677

10,429,917
9,649,559
780,358
7,880,296

9,626,372
9,626,372
0
6,533,464

10,471,347
10,471,347
0
6,914,742

2,062,182
1,267,841

2,549,621
1,221,699

3,092,908
1,614,997

3,556,605
2,302,979

(Thousand Rupees)
2009
2010
24,944,143
205,355
21,193,988
16,547,763
1,127,676
79,592
6,897,089
1,214,344
6,155,964
786,090
1,844,388
2,093,197
0
1,432,289
4,054,070
1,342,606
2,711,464
5,416,840
1,891,609
305,841
1,907,965
273,624
1,037,801
21,629,197
4,196,490
4,196,490
0
6,087,741
2,554,657
3,533,084
11,344,966

38,931,210
241,903
32,705,019
28,302,918
1,229,563
70,313
8,836,445
1,479,631
5,976,885
607,387
1,472,468
2,334,581
0
1,562,449
4,633,526
1,535,505
3,098,021
4,938,208
2,225,325
144,482
1,176,425
270,527
1,121,449
35,336,361
4,657,036
4,657,036
0
7,977,037
2,840,132
5,136,905
22,702,288
9,738,491
9,738,491
0
7,310,848
5,550,855
1,759,993
2,427,643
1,627,987
157,636
1,470,351
2,079,644
507,343
452,870
1,997,661
314,506
60,617
0
385,862

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

784,899
242,255
78,492
0

1,279,795
414,351
194,824
0

1,834,720
382,457
571,638
0

2,244,470
259,874
99,300
10,890

9,391,499
9,391,499
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
218,637

13,779,266
499,700
464,152
1,418,742

14,348,520
304,489
670,620
1,390,587

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

40,274,569
3,401,750
1,622,538
4,937,255

0.34
2.88
3.03
0.49
1.11
75.33
0.39
5.73
8.38
7.30
6.91
26.40

0.57
2.94
4.95
0.57
1.09
75.55
0.38
7.22
9.98
9.10
4.44
22.02

1.25
3.97
11.05
0.41
1.73
67.87
0.30
8.78
11.70
10.98
2.54
10.13

1.49
4.75
17.12
0.36
1.87
66.03
0.47
8.48
11.78
10.81
19.99
6.65

0.71
6.42
22.29
0.30
1.52
74.47
0.44
2.55
3.71
3.13
3.38
5.09
2.51
8.23
0.02
1.27
51.15

0.63
5.21
23.97
0.22
1.29
75.07
0.27
5.26
7.01
5.93
27.77
6.61
5.41
20.51
0.04
3.59
75.36

1,267,841

1,221,699

1,614,997

2,302,979

240,663

306,512

381,958

497,739

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

473

9.39
0.00
3.37
76.75

12.27
0.00
5.47
84.10

19.06
0.00
3.81
47.40

21.43
0.00
5.21
52.65

Billion Rs

Growth with Composition of Assets & Liabilites

45
40
35
30
25
20
15
10
5
0

70%
63.4% 60%
50%
40%
30%
20%
14.3%
10%
0%
-8.8%
-10%
-20%
Current
Non-Current
Shareholders
Liabilities
Laibilities
Equity
2010
Growth

56.1%

-2.9%

Non-Current
Assets

Current Assets

2009

Growth & Composition of Operations

2009

2010

12
158.4%

Billion Rs

10
8
6
4
2
0

Gross Profit 1.3%

Sales 3.7%

2009

Percentage

2009
20.51

5.93

5.26

2010
25

7.01

Net Profit Before Tax

Key Performance Indicators

Profitability/Efficiency Ratios
8

Growth
180%
160%
140%
120%
100%
80%
60%
40%
20%
0%

2010

20

4
3
2
1
0

3.71
2.55

Percentage

5
15

3.13

8.23

10
5

Return on
Return on
Assets
Equity

Return on
Capital
Emloyed

3.59
1.52 1.29 0.44
0.27

1.27

0
Currtent
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earing
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

12,396

6,808

6,574

6,209

41,988
12,396
977
0

18,687
6,808
790
0

18,847
6,574
393
0

18,847
6,209
366
0

5,818
2,308
2,229
216
0
1,065
66,887
0
66,887
0

7,903
2,622
4,469
69
0
743
59,390
0
59,390
0

6,330
591
4,331
346
0
1,062
57,037
0
57,037
0

7,649
736
4,819
86
0
2,008
56,969
0
56,969
0

0
(48,673)
23,228
23,228
0
(71,901)

0
(44,679)
23,228
23,228
0
(67,907)

0
(44,133)
23,228
23,228
0
(67,361)

0
(43,111)
23,228
23,228
0
(66,339)

5,986
5,986
0
1,911

4,682
4,682
0
2,096

4,791
4,791
0
2,824

3,361
3,361
0
1,513

4,075
9,489

2,586
3,274

1,967
1,396

1,848
858

(Thousand Rupees)
2009
2010
6,216
0
19,165
6,158
369
0
0
58
6,631
503
3,437
210
0
2,481
57,661
0
57,661
0
0
0
0
0
0
(44,814)
23,228
23,228
0
(68,042)
0
(68,042)
0

6,216
0
19,165
6,158
369
0
0
58
6,631
503
3,437
210
0
2,481
57,661
0
57,661
0
0
0
0
0
0
(44,814)
23,228
23,228
0
(68,042)
0
(68,042)
0
3,404
3,404
0
1,853
1,853
0
1,551
3,250
194
3,056
9
5
0
(1,704)
0
0
0
85

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(4,844)
26
0
0

4,013
20
0
0

570
24
0
0

1,040
17
0
0

3,404
3,404
0
1,853
1,853
0
1,551
3,250
194
3,056
9
5
0
(1,704)
0
0
0
85

(48,673)
0
(4,870)
0

(44,679)
0
3,993
0

(44,133)
0
546
0

(43,111)
0
1,023
0

(44,814)
0
(1,704)
0

(44,814)
0
(1,704)
0

0.04
0.28
3.61
0.33
0.09
31.92
-1.37
-30.31
9.57
9.57

0.05
0.11
1.47
0.32
0.13
44.77
-1.33
24.38
-8.60
-8.60

0.02
0.02
7.22
0.37
0.11
58.94
-1.29
4.13
-1.28
-1.28

0.01
0.15
2.56
0.24
0.13
45.02
-1.32
7.77
-2.38
-2.38

0.01
0.15
6.17
0.26
0.11
54.44
-1.29
-12.76
3.88
3.88

0.01
0.15
6.17
0.26
0.11
54.44
-1.29
-13.26
3.80
3.80

9,489

3,274

1,396

858

17

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

475

2.69

1.05

1.11

0.70

0.99

0.99

-80.92
0.00
-2.10
-20.95

85.71
0.00
1.72
-19.23

11.90
0.00
0.24
-19.00

30.94
0.00
0.44
-18.56

-50.06
0.00
-0.73
-19.29

-50.06
0.00
-0.73
-19.29

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

366,251

409,789

443,925

431,707

471,913
366,251
16,874
0

543,613
409,789
34,100
0

615,657
443,925
38,768
0

639,147
431,707
36,709
0

25,857
5,339
0
5,265
0
15,253
55,253
0
55,253
0

31,275
11,687
0
5,054
0
14,534
95,818
0
95,818
0

44,885
11,595
2,021
6,167
0
25,102
140,380
0
140,380
0

44,846
7,325
0
8,958
0
28,563
136,261
0
136,261
0

0
336,855
320,000
320,000
0
16,855

0
345,246
320,000
320,000
0
25,246

0
348,430
320,000
320,000
0
28,430

0
340,292
320,000
320,000
0
20,292

239,143
239,143
0
206,053

435,377
435,377
0
369,687

391,359
391,359
0
322,229

321,645
321,645
0
272,363

33,090
28,747

65,690
48,178

69,130
58,817

49,282
54,869

(Thousand Rupees)
2009
2010
429,129
21,272
649,665
407,132
35,093
0
0
725
50,855
6,903
2,360
11,121
0
30,471
31,468
0
31,468
103,273
0
92,800
0
1,909
8,564
345,243
320,000
320,000
0
25,243
0
25,243
0

409,625
9,691
671,853
399,207
33,239
0
0
727
40,216
5,453
7,861
16,609
0
10,293
38,678
0
38,678
64,108
0
54,750
0
1,995
7,363
347,055
320,000
320,000
0
27,055
0
27,055
0
385,251
385,251
0
301,229
301,229
0
84,022
78,511
17,179
61,332
86,560
1,497
0
4,014
2,610
0
0
50,659

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

8,821
1,074
0
0

10,831
2,425
0
0

10,205
1,960
0
0

(7,954)
1,625
0
0

314,168
314,168
0
244,299
244,299
0
69,869
64,475
12,743
51,732
65,734
1,543
0
3,851
125
32,000
0
23,371

336,855
0
7,747
0

345,246
0
8,406
0

348,430
0
8,245
0

340,292
0
(9,579)
0

448,516
0
(28,274)
0

411,163
0
1,404
0

0.19
0.65
2.20
0.61
0.47
86.16
0.16
2.29
2.65
2.65

0.17
0.00
1.16
0.99
0.33
84.91
0.28
2.60
3.18
3.18

0.13
0.00
1.58
0.80
0.32
82.34
0.40
2.19
2.94
2.94

0.12
0.47
2.79
0.67
0.33
84.68
0.40
-1.65
-2.31
-2.31

0.57
0.39
4.31
0.86
1.04
78.19
0.30
0.86
1.16
0.93

193.65

0.57
0.49
3.54
0.65
1.62
77.76
0.39
0.81
1.12
0.98
0.12
133.12

3.69
0.00
0.24
10.53

2.49
0.00
0.26
10.79

2.61
0.00
0.26
10.89

-2.47
0.00
-0.30
10.63

28,747

48,178

58,817

54,869

1,545

1,509

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning 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

49.01

1.23
0.17
0.12
10.79

1.04
0.49
0.04
10.85

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

44,728

147,018

166,393

145,353

135,000
44,728
4,399
0

241,481
147,018
4,428
0

248,284
166,393
5,421
0

186,945
145,353
4,119
0

221,691
30,827
0
0
21,678
169,186
218,096
11,145
206,951
1,944

300,346
58,933
197,026
0
15,826
28,561
312,519
34,880
277,639
922

385,871
48,527
0
262,247
6,500
68,597
431,704
15,625
416,079
290

425,583
22,207
0
258,721
61,350
83,305
427,015
447
426,568
627

1,944
46,379
50,000
50,000
0
(3,621)

922
133,923
50,000
50,000
0
83,923

290
120,270
50,000
50,000
0
70,270

627
143,294
80,761
80,761
0
62,533

257,006
257,006
0
241,871

532,246
532,246
0
491,408

795,361
795,361
0
749,827

412,348
412,348
0
375,835

15,135
21,191

40,838
18,606

45,534
25,868

36,513
37,599

(Thousand Rupees)
2009
2010
319,110
0
272,923
226,046
5,284
0
91,719
1,345
391,268
72,551
18,065
0
0
300,652
240,676
4,925
235,751
7,299
0
0
0
6,835
464
462,403
282,662
282,662
0
(30,596)
15,380
(45,976)
210,337

312,895
0
272,621
220,544
5,376
0
92,026
325
348,561
37,540
12,949
0
0
298,072
225,416
4,925
220,491
6,384
0
0
0
6,137
247
429,656
282,662
282,662
0
(60,434)
15,380
(75,814)
207,428
46,446
46,446
0
70,954
12,729
58,225
(24,508)
21,847
43
21,804
19,195
855
764
(33,798)
689
0
0
(35,181)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

3,428
10,530
0
0

13,513
16,007
0
0

24,852
31,940
0
0

(34,977)
6,000
0
0

255,363
255,363
0
230,637
76,630
154,007
24,726
29,781
465
29,316
41,607
9,128
8,674
24,810
1,070
0
0
2,688

48,323
0
(7,102)
11,145

134,845
0
(2,494)
34,880

120,560
0
(7,088)
15,625

143,921
0
(40,977)
447

469,702
0
23,740
4,925

436,040
0
(34,487)
4,925

0.24
0.49
0.00
0.96
1.02
94.11
4.74
1.37
6.87
6.70

0.24
0.38
0.00
1.19
0.96
92.33
2.34
3.79
14.99
14.75

0.73
1.66
32.97
1.44
0.89
94.28
3.59
4.97
19.55
19.46

0.80
3.52
62.74
0.72
1.00
91.15
2.98
-6.23
-26.54
-26.45

0.30
3.57
0.00
0.36
1.63
90.32
0.54
3.87
8.19
8.09

0.17
1.84
0.00
0.07
1.55
152.77
0.54
-4.93
-7.58
-7.46

2.70

1.33
0.00
-1.42
9.28

2.54
0.00
-0.50
26.78

3.12
0.00
-1.42
24.05

-8.48
0.00
-5.07
17.74

21,191

18,606

25,868

37,599

1,261

2,006

13,207

14,507

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

477

14.14
3.86
9.72
0.01
0.84
16.36

3.59
-43.22
-72.77
-0.15
-1.22
15.20

Financial Statement Analysis of Non Financial Sector 2010

Haydari Construction Company Ltd.

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)

1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)

1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2005

2006

2007

2008

1,103

1,021

945

867

7,109
1,103
86
0

7,109
1,021
86
0

7,109
945
75
0

6,993
867
70
0

25,919
493
12,724
0
1
12,701
7,768
0
7,768
0

25,700
236
0
0
40
25,424
7,771
0
7,771
0

25,515
36
0
0
53
25,426
7,786
0
7,786
0

25,596
80
12,724
0
91
12,701
7,898
0
7,898
0

0
19,254
32,000
32,000
0
(12,746)

0
18,950
32,000
32,000
0
(13,050)

0
18,674
32,000
32,000
0
(13,326)

0
18,565
32,000
32,000
0
(13,435)

145
145
0
207

0
0
0
0

0
0
0
0

0
0
0
0

(62)
612

0
345

0
290

0
332

(Thousand Rupees)
2009
2010
803
0
6,993
757
60
0
33
13
25,689
5
12,724
0
0
12,960
0
0
0
8,038
0
0
0
0
8,038
18,454
32,000
32,000
0
(13,546)
10,627
(24,173)
0

768
0
6,385
705
52
0
50
13
25,709
5
12,724
0
0
12,980
0
0
0
8,243
0
0
0
0
8,243
18,234
32,000
32,000
0
(13,766)
10,627
(24,393)
0
0
0
0
0
0
0
0
255
0
255
0
0
0
(254)
0
0
0
(180)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

(665)
40
0
0

(341)
1
0
0

(289)
0
0
0

(147)
0
0
0

0
0
0
0
0
0
0
230
0
230
0
0
0
(52)
0
0
0
(302)

19,254
0
(705)
0

18,950
0
(342)
0

18,674
0
(289)
0

18,565
0
(147)
0

26,492
0
(52)
0

26,477
0
(254)
0

0.06
0.69
0.00
0.01
3.34
142.76
0.40
-2.43
-3.39
-3.39

0.04

0.01

0.02

0.00
3.31

0.00
3.28

0.00
3.24

0.00

0.00

0.41
-1.27
-1.79
-1.79

0.42
-1.09
-1.54
-1.54

0.43
-0.56
-0.79
-0.79

0.44
-0.20
-0.28
-0.23

0.45
-0.96
-1.38
-0.96

0.00
-0.11
5.92

0.00
-0.05
2.92

612

345

290

332

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.01

-458.62
0.00
-0.11
3.01

478

0.00

0.00

0.00

0.00
-0.05
5.80

-0.04
-0.01
2.88

-0.02
-0.04
2.85

Financial Statement Analysis of Non Financial Sector 2010

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

75,116
0
21,550
4,490
2,818
69,641
0
985
268,184
42,838
112,859
64,480
0
48,007
96,903
0
96,903
7,372
0
0
0
7,000
372
239,025
200,000
200,000
0
39,025
0
39,025
0

182,450
0
138,121
121,067
2,189
60,941
0
442
188,943
28,640
111,244
33,558
0
15,501
115,322
0
115,322
7,953
0
0
0
7,953
0
248,118
200,000
200,000
0
48,118
0
48,118
0

414,882
414,882
0
375,986
0
375,986
38,896
48,370
33,380
14,990
14,686
668
384
(8,339)
7,323
0
0
31,105

475,248
475,248
0
362,174
0
362,174
113,074
101,078
83,530
17,548
33,896
450
162
14,031
4,938
0
0
105,419

246,397
0
(15,662)
0

256,071
0
9,093
0

1.11
0.16
15.54
1.21
2.77
90.62
0.44
-2.43
-3.49
-3.38

0.54
0.09
7.06
1.28
1.64
76.21
0.50
3.93
5.76
5.58

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

479

3.68
-20.72
-2.01
0.30
-0.78
11.95

4.27
87.61
2.95
0.86
0.45
12.41

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

257,688

510,916

311,854
256,406
13,264
1,282

575,480
500,373
21,812
10,543

3,547,871
307,943
751,408
310,506
1,751,329
426,685
575,749
109,268
466,481
54,794

8,050,206
1,314,880
1,189,809
974,764
4,181,118
389,635
2,480,964
44,843
2,436,121
1,519,452

1,499,400

54,794
3,175,016
2,204,650
2,204,650
0
970,366

20,052
4,560,706
2,204,656
2,204,656
0
2,356,050

612,651
612,651
0
381,151

1,523,872
1,523,872
0
983,974

231,500
143,074

539,898
331,350

(Thousand Rupees)
2009
2010
6,474,944
71,127
577,191
474,066
33,739
9,951
5,465,782
454,018
3,474,664
341,282
1,496,754
1,559,785
0
76,843
362,747
35,011
327,736
3,827,813
1,535,175
202,980
1,907,965
33,814
147,879
5,759,048
2,328,220
2,328,220
0
3,430,828
418,019
3,012,809
0

8,513,862
6,672
693,519
550,444
42,786
9,372
7,300,247
647,127
3,373,427
177,505
1,111,571
1,714,345
0
370,006
1,064,004
135,958
928,046
3,216,257
1,755,763
82,328
1,176,425
33,236
168,505
7,607,028
2,788,766
2,788,766
0
4,818,262
675,936
4,142,326
0
1,649,336
1,649,336
0
1,489,853
1,489,853
0
159,483
166,386
18,968
147,418
36,107
244,000
241,149
1,116,555
9,805
0
0
(380,510)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

550,958
3,815
385,814
0

1,434,027
11,023
0
0

1,535,295
1,535,295
0
1,239,402
1,239,402
0
295,893
312,345
6,724
305,621
50,769
272,451
270,554
669,613
775
0
0
(939,524)

3,229,810
0
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

10,823,285
2,932,188
1,106,750
3,068,146

4.12
15.10
50.68
0.16
6.16
62.21
0.20
14.48
17.35
17.06
1.42
0.82

5.24
17.75
101.60
0.15
9.58
80.73
0.73
7.23
12.98
8.55

1.78
14.79
103.94
0.14
3.17
90.33
0.56
10.23
16.71
10.94

143,074

331,350

92,536

246,260

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

480

2.61
16.16
63.97
0.18
3.24
64.57
0.88
23.19
37.08
30.81

1.28

1.03
3.47
43.61
-0.22
2.87
24.74

1.48
5.63
67.70
-0.09
3.97
27.28

89.93
0.00
2.48
14.40

94.10
0.00
6.45
20.69

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,155,764

1,273,272

2,469,004

2,436,112

1,321,487
1,155,764
46,899
0

1,487,117
1,273,272
48,122
0

2,614,195
2,469,004
46,742
0

2,628,269
2,436,112
49,797
0

198,539
49,247
409
30,215
104,005
14,663
343,293
111,980
231,313
88,757

106,656
28,028
471
46,803
7,378
23,976
400,653
129,818
270,835
897

115,119
48,810
521
51,177
0
14,611
280,986
19,771
261,215
1,236

153,011
76,522
557
39,350
19,334
17,248
268,087
6,105
261,982
882

88,757
922,253
180,000
180,000
0
742,253

897
978,378
180,000
180,000
0
798,378

1,236
2,301,901
180,000
180,000
0
2,121,901

882
2,320,154
180,000
180,000
0
2,140,154

269,115
269,115
0
137,180

475,878
475,878
0
168,429

498,334
498,334
0
181,210

390,531
390,531
0
177,877

131,935
71,673

307,449
83,609

317,124
96,758

212,654
92,115

(Thousand Rupees)
2009
2010
2,400,673
5,275
2,627,562
2,392,948
46,357
0
0
2,450
102,400
65,533
1,564
24,753
0
10,550
44,678
0
44,678
216,059
180
10,061
0
0
205,818
2,242,336
180,000
180,000
0
164,650
0
164,650
1,897,686

2,360,573
8,042
2,627,487
2,350,081
43,378
0
0
2,450
146,684
74,580
1,735
35,489
0
34,880
42,361
0
42,361
204,736
0
7,404
0
0
197,332
2,260,160
180,000
180,000
0
197,980
0
197,980
1,882,180
286,020
286,020
0
177,852
73,879
103,973
108,168
88,325
1,964
86,361
20,052
2,429
83
24,164
14,723
0
0
12,351

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

65,541
17,004
45,000
0

202,180
77,387
63,000
0

117,401
41,953
54,000
0

118,446
46,566
0
0

323,813
323,813
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
96,953

1,011,010
0
3,537
111,980

979,275
0
61,793
129,818

2,303,137
0
21,448
19,771

2,321,036
0
71,880
6,105

2,458,395
180
(11,600)
180

2,464,896
0
9,441
0

0.53
2.32
11.23
0.20
0.58
50.97
0.47
5.20
7.27
6.89
1.08
657.98

0.21
2.86
9.84
0.34
0.27
35.39
0.41
14.79
21.28
20.32
1.98
1,010.36

0.50
0.11
10.08
0.15
0.57
45.55
0.12
4.58
5.13
5.12

2.02
0.08
7.64
0.13
2.29
52.12
0.12
0.66
0.74
0.70

2.60
0.85
12.41
0.11
3.46
62.18
0.11
0.96
1.07
0.98

71,673

83,609

96,758

92,115

6,256

13,606

11,195

420

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

481

0.36
2.25
10.27
0.19
0.41
36.36
0.12
5.92
7.16
7.15
1.40
956.50

701.13

207.04
66.03
5.18
0.37
-0.64
124.57

164.85
292.13
8.45
0.05
0.52
125.56

24.35
0.00
2.70
51.24

42.49
0.00
6.93
54.35

23.56
0.00
4.19
127.88

30.33
0.00
3.99
128.90

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

10,315,109

10,313,296

10,741,029

10,926,298

12,284,659
10,315,109
174,721
0

12,476,224
10,313,296
200,320
0

13,083,166
10,741,029
183,791
0

13,543,839
10,926,298
229,621
0

2,093,501
117,041
27,989
155,923
307,599
1,484,949
1,438,354
282,029
1,156,325
1,047,043

2,682,018
541,953
35,238
220,358
890,455
994,014
1,822,977
303,312
1,519,665
743,820

2,589,579
537,942
29,161
269,567
1,452,845
300,064
1,921,891
331,880
1,590,011
411,940

3,245,083
297,159
45,720
336,103
2,294,679
271,422
2,639,891
745,155
1,894,736
199,492

499,700

299,820

99,940

547,343
9,923,213
325,242
325,242
0
9,597,971

444,000
10,428,517
325,242
325,242
0
10,103,275

312,000
10,996,777
325,242
325,242
0
10,671,535

199,492
11,331,998
325,242
325,242
0
11,006,756

3,829,767
3,829,767
0
2,684,906

4,875,539
4,875,539
0
3,346,835

5,679,646
5,679,646
0
3,805,575

5,485,717
5,485,717
0
3,878,201

1,144,861
608,675

1,528,704
692,206

1,874,071
892,058

1,607,516
969,339

(Thousand Rupees)
2009
2010
12,942,954
0
13,587,649
10,860,819
269,815
0
1,339,555
742,580
1,292,143
123,008
131,049
247,499
0
790,587
2,425,334
767,230
1,658,104
710,151
190,813
0
0
224,066
295,272
11,099,612
325,242
325,242
0
2,149,516
2,070,631
78,885
8,624,854

24,541,649
0
25,258,700
22,277,858
265,236
0
1,444,122
819,669
1,197,512
99,928
128,389
312,699
0
656,496
2,257,090
888,088
1,369,002
596,886
86,426
0
0
221,206
289,254
22,885,185
325,242
325,242
0
2,552,173
2,098,189
453,984
20,007,770
4,337,027
4,337,027
0
2,751,730
2,751,730
0
1,585,297
1,168,335
35,758
1,132,577
1,173,216
167,066
122,778
554,167
217,532
0
0
217,260

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

462,457
175,184
32,524
0

804,823
266,710
81,310
0

1,001,294
299,643
81,310
0

479,916
181,048
48,786
0

4,595,739
4,595,739
0
3,080,249
3,080,249
0
1,515,490
1,802,289
41,747
1,760,542
1,151,195
209,355
126,038
(138,975)
164,030
0
0
729,526

10,970,256
499,700
254,749
781,729

11,172,337
299,820
456,803
603,132

11,408,717
99,940
620,341
431,820

11,531,490
0
250,082
745,155

11,809,763
190,813
(303,005)
958,043

23,482,071
86,426
336,635
974,514

0.40
4.55
4.07
0.31
1.46
70.11
0.25
5.01
6.54
5.73
8.83
136.83

0.91
4.16
4.52
0.38
1.47
68.65
0.25
6.34
7.91
7.27
6.62
138.36

1.18
3.31
4.75
0.43
1.35
67.00
0.21
7.61
9.35
8.87
8.63
194.77

1.11
2.46
6.13
0.39
1.23
70.70
0.25
3.49
4.30
4.18
6.13
119.99

0.15
4.56
5.39
0.32
0.53
67.02
0.28
-0.98
-1.24
-1.19

0.18
3.85
7.21
0.17
0.53
63.45
0.12
2.77
3.26
3.14

608,675

692,206

892,058

969,339

174,101

202,966

187,785

135,216

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

482

12.08
0.00
8.83
305.10

16.51
0.00
16.55
320.64

17.63
0.00
21.57
338.11

8.75
0.00
9.19
348.42

35.07
-0.10
-3.02
0.23
-9.32
341.27

33.78
5.51
12.78
0.08
10.35
703.64

Financial Statement Analysis of Non Financial Sector 2010

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

2005

2006

2007

2008

1,190,458

1,339,236

1,773,567

1,797,488

1,564,982
1,190,458
65,554
0

1,786,282
1,339,236
74,090
0

2,306,247
1,773,567
88,273
0

2,441,346
1,797,488
112,974
0

303,280
71,455
12,609
0
5,000
214,216
444,690
163,720
280,970
226,974

364,112
83,457
20,071
149,122
0
111,462
599,916
235,774
364,142
232,801

406,221
125,565
29,845
131,129
0
119,682
708,579
190,730
517,849
536,990

526,437
168,612
44,871
153,180
0
159,774
640,953
73,299
567,654
644,586

226,974
822,074
505,138
505,138
0
316,936

232,801
870,631
505,138
505,138
0
365,493

536,990
934,219
505,138
505,138
0
429,081

644,586
1,038,386
505,138
505,138
0
533,248

876,918
876,918
0
387,601

1,111,296
1,111,296
0
766,847

1,324,650
1,324,650
0
837,893

1,669,050
1,669,050
0
681,757

489,317
350,583

344,449
174,501

486,757
301,832

987,293
679,615

(Thousand Rupees)
2009
2010
2,295,198
107,681
3,431,290
2,175,347
734,141
0
0
12,170
544,130
133,467
65,576
185,349
0
159,738
794,603
535,440
259,163
536,835
165,441
0
0
0
371,394
1,507,890
505,138
505,138
0
390,663
40,000
350,663
612,089

2,603,172
217,498
3,017,168
2,376,854
836,938
0
0
8,820
649,202
183,233
82,558
221,671
0
161,740
832,994
506,534
326,460
833,641
383,136
0
0
0
450,505
1,585,739
505,138
505,138
0
475,691
40,000
435,691
604,910
2,555,759
2,555,759
0
2,155,203
919,582
1,235,621
400,556
0
0
0
710,609
91,041
87,934
320,486
64,209
60,617
0
415,959

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative 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

164,201
4,572
0
0

189,200
5,755
50,514
0

126,394
0
50,514
0

232,912
8,177
50,514
0

1,948,835
1,948,835
0
1,652,684
801,370
851,314
296,151
0
0
0
441,890
109,119
104,954
207,135
35,910
126,285
0
274,735

1,049,048
0
159,629
163,720

1,103,432
0
132,931
235,774

1,471,209
0
75,880
190,730

1,682,972
0
174,221
73,299

2,044,725
165,441
44,941
700,881

2,419,380
383,136
195,660
889,670

0.17
2.73
0.00
0.59
0.68
44.20
0.82
11.96
21.40
16.21

0.39
3.60
13.42
0.65
0.61
69.00
0.96
11.84
22.35
17.58
3.63
55.37

0.36
5.01
9.90
0.61
0.57
63.25
1.33
6.51
14.01
9.82
2.50
44.38

0.50
5.21
9.18
0.72
0.82
40.85
1.24
10.34
23.61
14.77
4.45
37.20

0.40
5.60
9.51
0.69
0.68
84.80
0.88
8.02
16.27
11.11
1.36
29.72
2.97
10.63
0.21
3.39
29.85

0.49
3.56
8.67
0.79
0.78
84.33
1.05
10.52
20.72
14.36
4.23
30.96
4.64
12.54
0.25
5.07
31.39

350,583

174,501

301,832

679,615

23,905

40,011

66,360

86,996

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators

1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

69.55

483

18.72
0.00
3.16
16.27

17.03
0.00
3.63
17.24

9.54
0.00
2.50
18.49

13.95
0.00
4.45
20.56

APPENDICES

Appendix:1
Companies Covered in the Financial Statement Analysis for the year 2010 (411)

Company
1 Textile Sectors (164)
i)
1
2
3
4
5
6
7
8
9
10
11
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
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53

Spinning, Weaving, Finishing (145)

(Colony) Sarhad Textile Mills Ltd.
(Colony) Thal Textile Mills Ltd.
Accord Textiles Ltd.
Adil Textile Mills Ltd.
Ahmed Hussan Textile Mills Ltd.
Al-Qadir Textile Mills Ltd.
Ali Asghar Textile Mills Ltd
Allawasaya Textile & Finishing Mills Ltd
Amin Spinning Mills Ltd.
Amtex Ltd.
Annoor Textile Mills Ltd.
Apollo Textile Mills Ltd.
Artistic Denim Mills Ltd.
Ashfaq Textile Mills Ltd.
Asim Textile Mills Ltd.
Ayesha Textile Mills Ltd.
Azam Textile Mills Ltd.
Azgard Nine Ltd. (Legler-Nafees Denim Mills Ltd.)
Babri Cotton Mills Ltd.
Bhanero Textile Mills Ltd.
Bilal Fibres Ltd.
Blessed Textiles Ltd.
Brothers Textile Mills Ltd.
Chakwal Spinning Mills Ltd.
Chenab Ltd.
Colony Mills Ltd. (Colony Textile Mills Ltd.)
Crescent Fibre Ltd. (Crescent Boards Ltd.)
D.M. Textile Mills Ltd.
D.S. Industries Ltd.
Dar Es Salaam Textile Mills Ltd.
Data Textiles Ltd.
Dawood Lawrancepur Ltd. (Dawood Cotton Mills)
Dewan Farooque Spinning Mills Ltd.
Dewan Khalid Textile Mills Ltd.
Dewan Mushtaq Textile Mills Ltd.
Dewan Textile Mills Ltd.
Din Textile Mills Ltd.
Elahi Cotton Mills Ltd.
Ellcot Spinning Mills Ltd.
Faisal Spinning Mills Ltd.
Fateh Textile Mills Ltd.
Fatima Enterprises Ltd.
Fawad Textile Mills Ltd.
Fazal Cloth Mills Ltd.
Fazal Textile 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.

Page No.
Data
9
11
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
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
63
64
65

485

Company
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
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109

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.
Kohat Textile Mills Ltd.
Kohinoor Industries Ltd.
Kohinoor Mills Ltd.
Koninoor Spinning Mills Ltd.
Kohinoor Textile Mills Ltd.
Landmark Spinning Industries Ltd.
Mahmood Textile Mills Ltd.
Maqbool Textile Mills Ltd.
Masood Textile Mills Ltd.
Mehr Dastagir Textile Mills Ltd.
Mian Textile Industries Ltd.
Mohammad Farooq Textile Mills Ltd.
Mubarak Textile Mills Ltd.
Mukhtar Textile Mills Ltd
N. P. Spinning Mills Ltd.
Nadeem Textile Mills Ltd.
Nagina Cotton Mills Ltd.
Nakshbandi Industries Ltd.
Nazir Cotton Mills Ltd.
Nishat (Chunian) Ltd.
Nishat Mills Ltd.
Olympia Spinning & Weaving Mills Ltd.
Olympia Textile Mills Ltd.
Paramount Spinning Mills Ltd.
Premium Textile Mills Ltd.
Prosperity Weaving Mills Ltd.
Quality Textile Mills Ltd.
Quetta Textile Mills Ltd.
Ravi Textile Mills Ltd.
Redco Textiles Ltd.
Regent Textile Industries Ltd.
Reliance Cotton Spinning Mills Ltd.
Reliance Weaving Mills Ltd.
Resham Textile Industries Ltd.

Page No.
Data
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
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

Company
110
111
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
138
139
140
141
142
143
144
145

Page No.
Data

Ruby Textile Mills Ltd.

Safa Textiles Ltd.
Saif Textile Mills Ltd.
Saitex Spinning Mills Ltd.
Sajjad Textile Mills Ltd.
Saleem Denim Industries Ltd.
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.
Shaheen Cotton Mills Ltd.
Shahpur Textile 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.
Taj Textile Mills Ltd.
Tata Textile Mills Ltd.
The Crescent Textile Mills Ltd.
Towellers Ltd.
Usman Textile Mills Ltd.
Yousaf Weaving Mills Ltd.
Zahidjee Textile Mills Ltd.
Zephyar Textile Ltd.

122
123
124
125
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
152
153
154
155
156
157

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.

159
161
162
163
164
165
166

Other Textiles n.e.s. (13)

Al-Abid Silk Mills Ltd.
Bannu Woollen Mills Ltd.
Crescent Jute Products Ltd.
Ibrahim Fibres Ltd.
Indus Polyester Company Ltd.
Latif Jute Mills Ltd.
Noor Silk Mills Ltd.
Pakistan Synthetics Ltd.
Rupali Polyester Ltd.
S. G. Fibres Ltd.
Suhail Jute Mills Ltd.
The National Silk and Rayon Mills Ltd.
Tri-Star Polyester Ltd.

168
170
171
172
173
174
175
176
177
178
179
180
181
182

Company
2
3
4
5
6
7
8
9
10
11
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

Adam Sugar Mills Ltd.

Al-Abbas Sugar Mills Ltd.
Al-Noor Sugar Mills Ltd.
Ansari Sugar Mills Ltd.
Baba Farid Sugar Mills Ltd
Bawany Sugar Mills Ltd.
Chashma Sugar Mills Ltd.
Colony Sugar Mills Ltd.
Crescent Sugar Mills & Distillery Ltd.
Dewan Sugar Mills Ltd.
Faran Sugar Mills Ltd
Fecto Sugar Mills Ltd.
Habib ADM Ltd. (Habib Arkady Ltd.)
Habib Sugar Mills Ltd.
Haseeb Waqas Sugar Mills Ltd.
Husein Sugar Mills Ltd.
JDW Sugar Mills Ltd.
Khairpur Sugar Mills Ltd.
Kohinoor Sugar Mills Ltd.
Mehran Sugar Mills Ltd.
Mirpurkhas Suggar Mills Ltd
Mirza Suggar Mills Ltd
Noon Sugar Mills Ltd.
Pangrio Sugar Mills Ltd.
Sakrand Sugar Mills Ltd.
Saleem Sugar Mills Ltd.
Sanghar Sugar Mills Ltd.
Shahmurad Sugar Mills Ltd.
Shahtaj Sugar Mills Ltd.
Shakarganj Mills Ltd.
Sindh Abadgars Sugar Mills Ltd
Tandlianwala Sugar Mills Ltd.
The Frontier Sugar Mills & Distillery Ltd.
The Prem.Sugar Mills & Dist. Co. Ltd.
The Thal Industries Corp. Ltd.

ii) Other Food Products (18)

ii)
1
2
3
4
5
6
iii)
1
2
3
4
5
6
7
8
9
10
11
12
13

2 Food(54)

185

i) Sugar(36)
1 Abdullah Shah Ghazi Sugar Mills Ltd.(Al-Asif Sugar Mills Ltd.)

187
189

486

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

Clover Pakistan Ltd.

Indus Fruit Products Ltd.
Ismail Industries Ltd.
Mitchells Fruit Farms Ltd.
Morafco Industries Ltd.
Murree Brewery Company Ltd.
National Foods Ltd.
Nestle Pakistan Ltd.
Noon Pakistan Ltd.
Punjab Oil Mills Ltd.
Quice Food Industries Ltd.
Rafhan Maize Products Co. Ltd.
S. S. Oil Mills Ltd.
Shakarganj Foods Ltd. (Al-Jadeed Textile Mills Ltd.)
Shezan International Ltd.
Unilever Pakistan Foods Ltd.(Rafhan Bestfoods Ltd.
Unilever Pakistan Ltd.
Wazir Ali Industries Ltd.

Page No.
Data
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
226
228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245

3 Chemicals & Pharmaceuticals (43)

248

Abbott Laboratories (Pakistan) Ltd.

Agritech Ltd.
Boc Pakistan Ltd.
Bawany Air Products Ltd.
Berger Paints Pakistan Ltd.

250
251
252
253
254

1
2
3
4
5

Company
6
7
8
9
10
11
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
38
39
40
41
42
43

Biafo Industries Ltd

Buxly Paints Ltd.
Clariant Pakistan Ltd.
Colgate - Polmolive (Pakistan) Ltd.
Data Agro Ltd
Dawood Hercules Chemicals Ltd.
Descon Chemicals (Pvt.) Ltd. (Nimir Resin Ltd.)
Descon Oxychem Ltd.
Dewan Salman Fibre Ltd.
Dynea Pakistan Ltd.
Engro Corporation Ltd. (Engro Chemical Pakistan Ltd.)
Engro Polymer & Chemical Ltd.
Fatima Fertilizer Co.Ltd.
Fauji Fertilizer Bin Qasim Ltd.
Fauji Fertilizer Company Ltd.
Ferozsons Laboratories Ltd.
Gatron (Industries) Ltd.
Ghani Gases Ltd.
Glaxosmithkline (Pakistan) Ltd.
Highnoon Laboratories Ltd.
ICI Pakistan Ltd.
Ittehad Chemicals Ltd
Leiner Pak Gelatine Ltd.
Lotte pakistan PTA Ltd. (Pakistan PTA Ltd.)
Mandviwal Maser Plastic Industries Ltd.
Nimir Industrial Chemicals Ltd.
Otsuka Pakistan Ltd.
Pakistan Gum & Chemicals Ltd.
Pakistan PVC Ltd.
Sanofi Aventis Pakistan Ltd.
Sardar Chemical Industries Ltd.
Searle Pakistan Ltd.
Shaffi Chemicals Industries Ltd
Sitara Chemical Industries Ltd.
Sitara Peroxide Ltd.
United Distributers Pakistan Ltd.
Wah Nobel Chemicals Ltd . (Pub.)
Wyeth Pakistan Ltd.

Page No.
Data
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
291
292

Company
23
24
25
26
27
28
29
30
31
32
33

Pakistan Tobacco Company Ltd.

319
Philip Morris (Pakistan) Ltd. (Lakson Tobacco Company Ltd.)320
Service Industries Ltd.
321
Shield Corporation Ltd. (Transpak Corp. Ltd.)
322
Siddiqsons Tinplate Ltd.
323
Syed Match Co. Ltd.
324
Thal Ltd. (Thal Jute Mills Ltd.)
325
Treet Corporation Ltd.
326
Tri-Pack Films Ltd.
327
United Brand Ltd. (UDL Industries Ltd.)
328
Zil Ltd. (Zulfeqar Industries Ltd.)
329

5 Other Non-Metallic Mineral Products(29)

332

i) Cement (21)

334

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

Al- Abbas Cem. Ltd. (Essa Cem. Ind. Ltd.)

Attock Cement Pakistan Ltd.
Bestway Cement Ltd.
Cherat Cement Company Ltd.
D. G. Khan Cement Company Ltd.
Dadabhoy Cement Industries Ltd.
Dandot Cement Company Ltd.
Dewan Cem. Ltd. (Pakland Cem. Ltd.)
Fauji Cement Company Ltd.
Fecto Cement Ltd.
Flying Cement Company Ltd.
Gharibwal Cement Ltd.
Javedan Cement Ltd.
Kohat Cement Company Ltd.
Lafarge Pak. Cement Ltd. (Pak. Cem. Ltd.)
Lucky Cement Ltd.
Maple Leaf Cement Factory Ltd.
Mustehkam Cement Ltd.
Pioneer Cement Ltd.
Thatta Cement Ltd.
Zeal Pak Cement Factory Ltd.

ii) Mineral Products (8)

4 Other Manufacturing n.e.s. (33)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22

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.
Gillette Pakistan Ltd.
Goodluck Industries Ltd.
Grays Of Cambridge (Pakistan) Ltd.
Hashimi Can Company Ltd.
Huffaz Seamless Pipe Industries Ltd.
International Industries Ltd.
KSB Pumps Company Ltd.
Khyber Tobacco Company Ltd.
Leather Up Ltd.
MACPAC Films Ltd.
Metropolitan Steel Corporation Ltd.
Pak Leather Crafts Ltd.
Pakistan Engineering Company Ltd. (Pub.)

295
297
298
299
300
301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318

487

Page No.
Data

1
2
3
4
5
6
7
8

Baluchistan Glass Ltd.

Frontier Ceramics Ltd.
Ghani Glass Ltd.
Ghani Value Glass Ltd.
Karam Ceramics Ltd.
Safe Mix Concrete Products Ltd.
Shabbir Tiles and Ceramics Ltd.
Tariq Glass Industries Ltd.

6 Motor Vehicles, Trailers & Semi-trailers (22)

1
2
3
4
5
6
7
8
9
10
11

Agriauto Industries Ltd.

Al-Ghazi Tractors Ltd.
Atlas Battery Ltd.
Atlas Engineering Ltd.(Allwin Engineering Ind. Ltd.)
Atlas Honda Ltd.
Baluchistan Wheels Ltd.
Bela Automotives Ltd.
Bolan Castings Ltd.
Dewan Auto.Eng. Ltd.(Allied Motors Ltd.)
Dewan Farooque Motors Ltd.
Exide Pakistan Ltd.

336
337
338
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
354
355
356
358
360
361
362
363
364
365
366
367
370
372
373
374
375
376
377
378
379
380
381
382

Company
12
13
14
15
16
17
18
19
20
21
22

General Tyre & Rubber Co. Ltd.

Ghandhara Industries Ltd..
Ghandhara Nissan Ltd.
Ghani Automobiles Industries Ltd.
Hinopak Motors Ltd.
Honda Atlas Cars (Pakistan) Ltd.
Indus Motor Company Ltd.
Millat Tractors Ltd.
Pak Suzuki Motor Company Ltd.
Sazgar Engineering Works Ltd.
Transmission Engineering Inds. Ltd.

7 Fuel & Energy (18)

Page No.
Data
383
384
385
386
387
388
389
390
391
392
393
396

Altern Energy Ltd.

Generteck Pakistan Ltd.
Ideal Energy Ltd
Japan Power Generation Ltd.
Karachi Electric Supply Co. Ltd.
Kohinoor Energy Ltd.
Kohinoor Power Company Ltd.
Kot Adu Power Co. Ltd.
Mari Gas Company Ltd.
Nishat Power Co. Ltd.
Oil & Gas Dev. Corp. (OGDC) (Pub.)
S. G. Power Ltd.
Shell Gas LPG (Pakistan) Ltd.
Sitara Energy Ltd.
Southern Electric Power Co. Ltd.
Sui Northern Gas Pipelines Ltd. (Pub.)
Sui Southern Gas Co. Ltd. (Pub.)
The Hub Power Company Ltd.

398
399
400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415

8 Information & Communication (13)

418

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

1
2
3
4
5
6
7
8
9
10
11
12
13

Eye Television Network Ltd.

Media Times Ltd.
Netsol Technologies Ltd.
Pak Datacom Ltd.
Pakistan International Container Terminal Ltd.
Pak.Intlernational Airlines Corp. Ltd. (PIA) (Pub.)
Pakistan National Shipping Corp. Ltd. (Pub.)
Pakistan Telecommunication Co. Ltd. (PTCL)
Southern Network Ltd.
TRG Pakistan Ltd.
Telecard Ltd.
Wateen Telecom Ltd.
World Call Telecom Ltd.

9 Coke & Refined Petroleum Products (9)

1
2
3
4

Attock Petroleum Ltd.

Attock Refinery Ltd.
Byco Petruleum Pakistan
National Refinery Ltd.

420
421
422
423
424
425
426
427
428
429
430
431
432
435
437
438
439
440

488

Company
5
6
7
8
9

Pakistan Oilfields Ltd.

Pakistan Petroleum Ltd. (Pub.)
Pakistan Refinery Ltd.
Pakistan State Oil Company Ltd. (Pub.)
Shell Pakistan Ltd.

Page No.
Data
441
442
443
444
445

10 Paper, Paperboard & Products (9)

448

Baluchistan Particle Board Ltd.

Central Forest Products Ltd.
Century Paper & Board Mills Ltd.
Cherat Papersack Ltd.
Dadabhoy Sack Ltd.
Merit Packaging Ltd.
Packages Ltd.
Pakistan Paper Products Ltd.
Security Papers Ltd. (Pub)

450
451
452
453
454
455
456
457
458

1
2
3
4
5
6
7
8
9

11 Electrical Machinery & Apparatus (8)

461

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.

463
464
465
466
467
468
469
470

1
2
3
4
5
6
7
8

12 Other Services Activities (9)

1
2
3
4
5
6
7
8
9

Dadabhoy Construction Tech. Ltd.

Dreamworld Ltd.
Gammon Pakistan Ltd.
Haydari Construction Company Ltd.
IBL Health Care Ltd.
Pace (Pakistan) Ltd.
Pakistan Hotels Developers Ltd.
Pakistan Services Ltd.
Shifa International Hospitals Ltd.

473
475
476
477
478
479
480
481
482
483

Appendix:II
Defaulter Companies of non-financaial sectors listed at Karachi Stock Exchange upto Dec. 31, 2010 (147)
S.No.

Company Name

S.No.

na
na

54
55
56
57
58
59
60
61
62
63
64
65

na

ii) Made-up Textile articles (5)

na
na
na
na

1
2
3
4
5

1 Textile Sectors (85)

i) Spinning, Weaving, Finishing (65)
1
2
3
4
5
6
7
8
9
10
11
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
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53

(Colony) Sarhad Textile Mills Ltd.

Accord Textiles Ltd.
Adil Textile Mills Ltd.
Al-Azhar Textile Mills Ltd.
Alif Textile Industries Ltd.
Al-Qadir Textile Mills Ltd.
Al-Qaim Textile Mills Ltd
Amazai Textile Mills Ltd.
Annoor Textile Mills Ltd.
Apex Fabrics Ltd.
Ashfaq Textile Mills Ltd.
Awan Textile Mills Ltd.
Ayaz Textile Mills Ltd.
Azmat Textile Mills Ltd.
Bahawalpur Textile Mills Ltd.
Brothers Textile Mills Ltd.
Carvan East Fabrics Ltd.
Crescent Spinning Mills Ltd.
Data Textiles Ltd.
Elahi Cotton Mills Ltd.
Fatima Enterprises Ltd.
Glamour Textile Mills Ltd.
Globe Textile Mills (OE) Ltd.
Globe Textile Mills Ltd.
Hafiz Textile Mills Ltd.
Hakkim Textile Mills Ltd.
Hala Enterprises Ltd.
Hala Spinnning Mills Ltd.
Hamid Textile Mills Ltd.
Harum Textile Mills Ltd.
Ishtiaq Textile Mills Ltd.
Ittefaq Textile Mills Ltd.
Itti Textile Mills Ltd.
Jubilee Spinning & Weaving Mills Ltd.
Junaid Cotton Mills Ltd.
Karim Cotton Mills Ltd.
Khurshid Spinning Mills Ltd.
Khyber Textile Mills Ltd.
Kohinoor Looms Ltd.
Landmark Spinning Industries 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.
Sajjad Textile Mills Ltd.
Saleem Denim Industries Ltd.

Company Name

na
na

na
na

na
na
na
na
na
na

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.

Fateh Sports Wear Ltd.

Libaas Textile Ltd.
Mohib Exports Ltd.
Tawakkal Garments Ltd.
Nina Industries Ltd.

na
na
na
na
na
na
na

na
na
na
na

iii) Other Textiles n.e.s. (15)

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Colony Woollen Mills Ltd.

Crescent Jute Products Ltd.
Harnai Woollen Mills Ltd.
Indus Polyester Company Ltd.
Kaiser Arts & Crafts Ltd.
Karim Silk Mills Ltd.
Kashmir Polytex Ltd.
Latif Jute Mills Ltd.
Mehran Jute Mills Ltd.
National Fibres Ltd.
Noor Silk Mills Ltd.
S. G. Fibres Ltd.
Suhail Jute Mills Ltd.
Tawakkal Polyster Ltd.
Valika Woollen Ltd.

na
na
na
na
na
na
na

na
na

2 Food(21)
na
na
na
na
na
na
na

489

i) Sugar (6)
1
2
3
4
5
6

Abdullah Shah Ghazi Sugar Mills Ltd.

Bawany Sugar Mills Ltd.
Khairpur Sugar Mills Ltd.
Mian Mohammad Sugar Mills Ltd.
Pangrio Sugar Mills Ltd.
Saleem Sugar Mills Ltd.

na

ii) Other Food Products (15)

1
2
3
4
5

Extraction Pakistan Ltd.

Fazal Vegetable Ghee Mills Ltd.
Indus Fruit Products Ltd.
Morafco Industries Ltd.
Mubarak Dairies Ltd.

na
na
na

Company Name

S.No.
6
7
8
9
10
11
12
13
14
15

Muslim Ghee Mills Ltd.

Pak Ghee Industries Ltd.
Pakistan Dairies
Punjab Oil Mills Ltd.
Quice Food Industries Ltd.
S. S. Oil Mills Ltd.
Shakarganj Foods Ltd.
Suraj Ghee Industries Ltd.
Univ. Oil & Veg. Ghee Mills Ltd.
Uqab Breeding Farms Ltd.

Company Name

S.No.
na
na
na

ii) Mineral Products (3)

1 Mineral Grinding Ltd.
2 Regal Ceramics Ltd.
3 Medi Glass Ltd.

na
na
na

6 Motor Vehicles, Trailers & semi-trailers (2)

na
na
na

1 Bela Automotives Ltd.

2 Dewan Auto.Eng. Ltd.(Allied Motors Ltd.)

7 Fuel & Energy (3)

3 Chemicals, Chemical Products &
Pharmaceuticals (8)
1
2
3
4
5
6
7
8

Adil Polypropylene Products Ltd.

Data Agro Ltd
Kausar Paints Ltd.
Pak Fiber Industries Ltd.
Pakistan Pvc Ltd.
Polyron Ltd.
Sardar Chemical Industries Ltd.
Sindh Alkalis Ltd.

na
na
na

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.

1 Abson Industries Ltd.

2 Central Forest Products Ltd.

na

9 Electrical Machinery and Apparatus (5)

na

na
na
na

5 Other Non-Metallic Mineral Products (29)

i) Cement (2)
1 Mustehkam Cement Ltd.
2 Zeal Pak Cement Factory Ltd.

Note:

na

na

8 Paper, Paperboard & Products (2)

na

4 Other Manufacturing n.e.s. (8)

1
2
3
4
5
6
7
8

1 Generteck Pakistan Ltd.

2 Japan Power Generation Ltd.
3 Tri-Star Power Ltd.

1
2
3
4
5

The Climax Engineering Company Ltd.

Bela Engineers Ltd.
Taga Pakistan Ltd.
Saif Nadeem Kawasaki Ltd.
Casspak Industries Ltd.

na

na
na
na
na

10 Other Services Activities (8)

1
2
3
4
5
6
7
8

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.

490

Dadabhoy Construction Tech. Ltd.

Haydari Construction Company Ltd.
M.L.C.
Pan Islamic Steamship Ltd.
Tri-Star Shipping Lines Ltd.
Myfip Video Industries Ltd.
Ghulam Muhammad Dadabhoy Ltd.
Tawakkal Ltd.

na
na
na
na
na
na