PAKISTAN STATE OIL

INCOME STATEMENT
FOR THE ENDED YEAR 2016 & 2017
(Rupees in 000) (Rupees in 000)
Gross Sales Revenue 1096542786 906,176,152
Net Sale 878146786 677,939,877
Cost Of Good Sold -840948073 -655,414,551
Gross Profit 37198713 22,525,326

Other income 10744932 12,798,264

Operating Cost
Distribution and marketing expenses -8822106 -8,088,492
Administrative expenses -2478797 -2422738
Other expenses -1980999 -1986064
-13281902 -12497294
Profit From Operations 34661743 22826296

Finance cost -5923256 -7149592

Share of profit of associates - net of tax 608380 612504

Profit before taxation 29346867 16289208

Taxation -11121242 -6016078
Profit for the year 18225625 10273130
(Rupees) (Rupees)
Earnings per share - basic and diluted 67.08 37.81

PAKISTAN STATE OIL

 BALANCE SHEET
AS ON DECEMBER 2016 & 2017
ASSETS (Rupees 000) (Rupees 000)
Fixed Assets
Property, plant and equipment 6944509 6,607,396
Intangibles 29409 47329
Long - term investments 4388257 50123753
Long - term loans, advances and other receivables 411777 346639
Long - term deposits and prepayments 196816 219790
Deferred tax assets - net 11912602 10788227
23883370 68142134
Current Assets
Stores, spares and loose tools 203542 218978
Stock-in-trade 66333048 50834033
Trade debts 212619281 178271018
Loans and advances 1873942 1896038
Short - term deposits and prepayments 5583577 2671725
Current maturity of long - term investments 43954641 0
Mark-up / interest receivable on investments 2258196 2251290
Other receivables 23130041 26125589
Taxation - net 8472290 6168926
Cash and bank balances 4131036 5736213
368559594 274173810
TOTAL ASSETS 392442964 342315944
EQUITY AND LIABILITIES
Equity 2716860 2716860
share capital 100132742 88864465
reserve 102849602 91581325
Non-Current Liabilties 8,089,633 6234132

Current Liablities
Trade and other payables 149,247,461 137887407
Provision 490,972 688512
Accrued interest / mark-up 1,266,793 811639
Short - term borrowings 130,498,503 105112929
Total Current Liability 281,503,729 244500487
Total Liability 289,593,362 250734619
TOTAL EQUITY AND LIABILITIES 392,442,964 342315944
 RATIO AND ANALYSIS 2017
(a) PROFITABILITY RATIOS

Gross Profit Ratio = Gross Profit/Net Sales = 4.24%

Net Profit Ratio = Net Income/Net Sales = 2.08%

EBITDA margin = EBITDA/Gross Revenue = 3.16%

Return on shareholders's equity = Net Income/Avg.T.Stockholder's equity = 18%

Return on total assets = Operating Income/Avg.T.Assets = 8.83%

Operating Income = Gross Profit - Operating Exp = $ 23,916,811.00

Operating expense Ratio = Operating expenses/Net sales = 1.51%

Return on Capital Employed = EBIT/Working Capital = 33.71%

(b) CAPITAL STRUCTURE RATIOS

Interest coverage ratio = Operating Income/Annual Interest Exp = 5.95

Debt Ratio = Total Liability/Total Assets = 74%

(c) LIQUIDITY RATIOS

Quick Ratio = Quick Assets/Current Liability = 1.07

Current Ratio = Current Assest/Current Liability = 1.31

Working Capital = Current Assets - current Liability = $ 87,055,865

(d) INVESTMENT RATIOS

Earning per share = NI-P. Dividends/Avg. No. Of C.Stock = Rs 67.08

Current stock Price = - = Rs 387.05

Price Earning per ratio = Current Stock Price/Earning per share = 5.76

(e) TURNOVER RATIOS

Fixed Assest Turnover Ratio = Net Sales/Avg. Fixed Assets = 36.77

Total Assest Turnover Ratio = Net Sales/Avg. Total Assets = 2.24

Receivables Turnover rate = Net Sales/Avg.Account Receivable = 5.16

Days to collect to Avg.A/C Receviable = 365 days /Rec Trunover Rate = 70.74

Inventory Trunover rate = COGS/Avg. Inventory = 16.53

Days to sell avg. inventory = 365 Days/Inventory Trunover Rate = 22.1

Operating cycle = Days to sell Inventory+Days Collect Rec = 92.82