Name Erp

Muhammad Meeran Siddiq 16927

Muhammad Talal Salahuddin 17062
Mohammad Ahmed 17070
 Engro Fer
Statement of Fina
2019
Rs.(millions)
Assets
Non-Current Assets
Property, plant and equipment 119356923
Intangible assets
Investment in subsidiary
Deffered taxation
Long-term loans and advances
Total Non Current Assets Rs. 124,545,894
Current Assets
Stores, spare parts and loose tools
Stock-in-trade
Trade debts
working Capital
Derivative financial instruments
Loan, advances, deposits and prepaymetns
Subordinated loan to subsidiary
Other receivables
Taxes recoverable
Accrued income
Short-term investments
Cash and bank balances
Total Current Assets 41,362,513.13
Total Assets 165,908,407.13

Equity and Liabilities

Equity
Share capital Rs. 13,352,993
Share premium Rs. 3,384,904
Reserve on Amalgamation Rs. (304,027)
Advance against issue of shares
Exchange revaluation reserve
Hedging reserves
Remeasurement of post employment benefits Rs. (45,083)
Unappropriated profit Rs. 26,606,961
Total equity Rs. 42,995,748
Liabilities
Non-Current Liabilities
Borrowings
Working capital loan from Holding Company
Derivative financial instruments
Deffered liabilities
Service benefits obligations
Total Non-Current Liabilities Rs. 33,067,117
Current Liabilities
Trade and other payables
Accrued interest/mark-up
Taxes payable
Current Portion of:
borrowings
Retirement and other service benefits obligations
Short term borrowing
Unclaimed dividend
Derivative financial instruments
Total Current Liabilities Rs. 38,652,777
Total Liabilities Rs. 71,719,894
Total Equity and Liabilities Rs. 114,715,642
AFN Rs. 94,188,513
( A positive AFN figure indicates that we need to finance th
Statement of Compr
2019

Sales 67,127,647.437
Cost of sales Rs. 38,802,172
Gross profit 28,325,475.34
Other income Rs. 4,950,680
33,276,155.57
Selling and distribution expenses (6,462,283.32)
Administrative expenses (1,570,289.02)
Other operating expenses (1,438,720.66)
Profit from operations 23,804,862.56
Finance cost Rs. (2,055,153)
Profit before taxation 21,749,709.56
Taxation 6,524,912.87
Profit for the year 15,224,796.70

EPS 0.01

Growth Rate (CAGR Applicable) 1.491%

Tax Rate
Issued Shares

Additional Information

Number of Shares
 Engro Fertilizers
Statement of Financial Position
2018 2017 2016 2015
Rs. (millions) Rs. (millions) Rs. (millions) Rs. (millions)

Rs. 68,203,956 Rs. 68,923,195 Rs. 70,168,266 Rs. 72,192,289

Rs. 4,487,771 Rs. 4,475,474 Rs. 4,450,606 Rs. 106,487
Rs. 560,416 Rs. 560,416 Rs. 560,316 Rs. 4,383,000
Rs. - Rs. - Rs. - Rs. -
Rs. 140,784 Rs. 134,535 Rs. 120,637 Rs. 159,778
Rs. 73,392,927 Rs. 74,093,620 Rs. 75,299,825 Rs. 76,841,554

Rs. 5,325,287 Rs. 5,279,794 Rs. 4,886,674 Rs. 4,639,142

Rs. 2,959,696 Rs. 3,528,439 Rs. 6,820,161 Rs. 6,942,110
Rs. 2,374,797 Rs. 3,484,501 Rs. 7,585,312 Rs. 2,261,747
Rs. 13,677,700 Rs. 2,000,000
Rs. - Rs. - Rs. - Rs. 29,207
Rs. 702,171 Rs. 701,392 Rs. 678,351 Rs. 588,247
Rs. 900,000
Rs. 8,299,348 Rs. 8,506,327 Rs. 6,986,069 Rs. 1,329,998
Rs. - Rs. - Rs. - Rs. -
Rs. 439,345 Rs. 46,911 Rs. - Rs. -
Rs. 6,334,613 Rs. 7,036,436 Rs. 142,729 Rs. 10,984,555
Rs. 642,060 Rs. 1,655,406 Rs. 28,473 Rs. 865,302
Rs. 40,755,017 Rs. 32,239,206 Rs. 27,127,769 Rs. 28,540,308
Rs. 114,147,944 Rs. 106,332,826 Rs. 102,427,594 Rs. 105,381,862

Rs. 13,352,993 Rs. 13,352,993 Rs. 13,309,323 Rs. 13,309,323

Rs. 3,384,904 Rs. 3,384,904 Rs. 3,132,181 Rs. 3,132,181
Rs. (304,027) Rs. (304,027)
Rs. - Rs. - Rs. - Rs. -
Rs. 10,802 Rs. -
Rs. - Rs. - Rs. - Rs. (4,536)
Rs. (45,083) Rs. (47,669) Rs. (26,646) Rs. (40,664)
Rs. 26,606,961 Rs. 24,626,571 Rs. 25,222,724 Rs. 26,129,716
Rs. 42,995,748 Rs. 41,012,772 Rs. 41,648,384 Rs. 42,526,020

Rs. 25,715,045 Rs. 22,784,014 Rs. 29,379,946 Rs. 25,289,658

Rs. - Rs. - Rs. - Rs. -
Rs. - Rs. - Rs. - Rs. -
Rs. 7,161,541 Rs. 9,453,556 Rs. 7,561,108 Rs. 6,493,030
Rs. 190,531 Rs. 173,811 Rs. 157,225 Rs. 124,367
Rs. 33,067,117 Rs. 32,411,381 Rs. 37,098,279 Rs. 31,907,055
 Rs. 28,626,619 Rs. 21,585,098 Rs. 14,969,365 Rs. 16,886,856
Rs. 405,620 Rs. 543,569 Rs. 583,632 Rs. 843,803
Rs. 3,203,439 Rs. 913,246 Rs. 1,104,140 Rs. 2,060,723

Rs. 5,095,584 Rs. 8,119,864 Rs. 5,171,515 Rs. 10,736,586

Rs. 51,267 Rs. 50,271 Rs. 49,157 Rs. 48,232
Rs. 636,878 Rs. 1,671,732 Rs. 19,544 Rs. -
Rs. 65,672 Rs. 24,893 Rs. 1,909,843 Rs. 6,103
Rs. - Rs. - Rs. 249,653 Rs. 366,484
Rs. 38,085,079 Rs. 32,908,673 Rs. 24,056,849 Rs. 30,948,787
Rs. 71,152,196 Rs. 65,320,054 Rs. 61,155,128 Rs. 62,855,842
Rs. 114,147,944 Rs. 106,332,826 Rs. 102,803,512 Rs. 105,381,862

FN figure indicates that we need to finance the increase in assets through equity or Leverage)
Statement of Comprehensive Income
2018 2017 2016 2015

Rs. 66,141,478 Rs. 63,010,060 Rs. 69,518,729 Rs. 87,615,258

Rs. 38,232,280 Rs. 42,538,067 Rs. 52,408,080 Rs. 55,435,451
Rs. 27,909,198 Rs. 20,471,993 Rs. 17,110,649 Rs. 32,179,807
Rs. 4,877,969 Rs. 6,074,598 Rs. 8,135,374 Rs. 1,707,059
Rs. 32,787,167 Rs. 26,546,591 Rs. 25,246,023 Rs. 33,886,866
Rs. (6,367,371) Rs. (6,493,239) Rs. (6,702,247) Rs. (5,452,944)
Rs. (1,547,226) Rs. (1,267,577) Rs. (888,324) Rs. (863,427)
Rs. (1,417,590) Rs. (1,230,232) Rs. (1,144,178) Rs. (1,813,639)
Rs. 23,454,980 Rs. 17,555,543 Rs. 16,511,274 Rs. 25,756,856
Rs. (2,055,153) Rs. (2,560,453) Rs. (3,136,045) Rs. (4,587,926)
Rs. 21,399,827 Rs. 14,995,090 Rs. 13,375,229 Rs. 21,168,930
Rs. (4,731,143) Rs. (4,858,541) Rs. (4,350,528) Rs. (6,141,449)
Rs. 16,668,684 Rs. 10,136,549 Rs. 9,024,701 Rs. 15,027,481

12.48 7.60 6.78 11.30

30% 25%
Rs. 1,335,299,375

Rs. 2,018 Rs. 2,017 Rs. 2,016 Rs. 2,015

Rs. 1,335,299,375 Rs. 1,335,299,375 Rs. 1,330,932,292 Rs. 1,330,932,292
 2014 2013
Rs. (millions) Rs. (millions)

Rs. 74,962,817 Rs. 79,315,218

Rs. 118,336 Rs. 138,464

Rs. - Rs. -
Rs. 93,931 Rs. 109,349
Rs. 75,175,084 Rs. 79,563,031

Rs. 4,713,746 Rs. 4,368,863

Rs. 1,100,922 Rs. 1,381,665
Rs. 757,044 Rs. 758,253

Rs. - Rs. 130,207

Rs. 432,943 Rs. 625,832

Rs. 27,582 Rs. 28,177

Rs. - Rs. 556,314
Rs. - Rs. -
Rs. 25,075,776 Rs. 18,058,054
Rs. 4,188,528 Rs. 4,458,391
Rs. 36,296,541 Rs. 30,365,756
Rs. 111,471,625 Rs. 109,928,787

Rs. 13,183,417 Rs. 1,222,800 (remain constant)

Rs. 2,260,784 Rs. 11,144 (remain constant)

Rs. - Rs. 2,118,750

Rs. - Rs. -
Rs. (39,831) Rs. (147,644)
Rs. (14,103) Rs. (20,886)
Rs. 19,087,828 Rs. 10,879,868
Rs. 34,478,095 Rs. 14,064,032 (remain constant)

Rs. 36,090,622 Rs. 52,896,382

Rs. - Rs. 3,000,000
Rs. 6,689 Rs. 1,531,252
Rs. 5,226,646 Rs. 4,654,523
Rs. 113,345 Rs. 104,053
Rs. 41,437,302 Rs. 62,186,210 (remain constant)
Rs. 24,472,163 Rs. 18,012,445
Rs. 1,362,300 Rs. 1,479,667
Rs. 675,609 Rs. -

Rs. 7,912,729 Rs. 2,924,299

Rs. 43,338 Rs. 43,893
Rs. - Rs. -
Rs. - Rs. -
Rs. 1,090,089 Rs. 213,041
Rs. 35,556,228 Rs. 22,673,345
Rs. 76,993,530 Rs. 84,859,555
Rs. 111,471,625 Rs. 98,923,587

2014 2013

Rs. 61,424,934 Rs. 50,128,936

Rs. 38,822,423 Rs. 28,007,905
Rs. 22,602,511 Rs. 22,121,031
Rs. 2,449,156 Rs. 1,104,650
Rs. 25,051,667 Rs. 23,225,681
Rs. (4,441,379) Rs. (3,511,155)
Rs. (772,161) Rs. (600,990)
Rs. (1,317,743) Rs. (2,060,015)
Rs. 18,520,384 Rs. 17,053,521
Rs. (6,625,397) Rs. (8,669,569)
Rs. 11,894,987 Rs. 8,383,952
Rs. (3,687,027) Rs. (2,886,847)
Rs. 8,207,960 Rs. 5,497,105

6.29 4.66

Rs. 2,014 Rs. 2,013

Rs. 1,318,341,667 Rs. 1,222,800,000
(we assume NCA remain the same except of PPE)

75% (growth capacity)

EPS
2013= 4.66
2014=6.29
15=11.30
16=6.78
17=7.60
18=12.48
 Statem
2018
Rs. (millions) %
Assets
Non-Current Assets
Property, plant and equipment Rs. 68,204 57.9%
Intangible assets Rs. 4,488 3.8%
Deffered taxation Rs. - 0.0%
Long-term loans and advances Rs. 142 0.1%
Total Non Current Assets Rs. 72,834 61.9%
Current Assets
Stores, spare parts and loose tools Rs. 5,325 4.5%
Stock-in-trade Rs. 11,538 9.8%
Trade debts Rs. 9,110 7.7%
Derivative financial instruments Rs. - 0.0%
Loan, advances, deposits and prepaymetns Rs. 1,363 1.2%
Other receivables Rs. 9,044 7.7%
Taxes recoverable Rs. - 0.0%
Accrued income Rs. 37 0.0%
Short-term investments Rs. 7,740 6.6%
Cash and bank balances Rs. 730 0.6%
Total Current Assets Rs. 44,887 38.1%
Total Assets Rs. 117,721 100.0%

Equity and Liabilities

Equity
Share capital Rs. 13,353 11.3%
Share premium Rs. 3,385 2.9%
Advance against issue of shares Rs. - 0.0%
Exchange revaluation reserve Rs. 409 0.3%
Hedging reserves Rs. - 0.0%
Remeasurement of post employment benefits Rs. (45) 0.0%
Unappropriated profit Rs. 28,421 24.1%
Total equity Rs. 45,523 38.7%
Liabilities
Non-Current Liabilities
Borrowings Rs. 25,715 21.8%
Working capital loan from Holding Company Rs. - 0.0%
Derivative financial instruments Rs. - 0.0%
Deffered liabilities Rs. 7,161 6.1%
Service benefits obligations Rs. 193 0.2%
Total Non-Current Liabiliteis Rs. 33,069 28.1%
Current Liabilities
Trade and other payables Rs. 29,072 24.7%
Accrued interest/mark-up Rs. 426 0.4%
Taxes payable Rs. 3,408 2.9%
Current Portion of:
borrowings Rs. 5,096 4.3%
Retirement and other service benefits obligations Rs. 51 0.0%
Short term borrowing Rs. 1,010 0.9%
Unclaimed dividend Rs. 66 0.1%
Derivative financial instruments Rs. - 0.0%
Total Current Liabilities Rs. 39,129 33.2%
Total Liabilities Rs. 72,198 61.3%
Total Equity and Liabilities Rs. 117,721 100.0%

Stateme
2018
Rs. (millions) %
Sales Rs. 109,197 100.0%
Cost of sales Rs. (73,880) 67.7%
Gross profit Rs. 35,317 32.3%
Other income Rs. 2,062 1.9%
Rs. 37,379 34.2%
Selling and distribution expenses Rs. (8,008) 7.3%
Administrative expenses Rs. (1,585) 1.5%
Other operating expenses Rs. (1,432) 1.3%
Profit from operations Rs. 26,354 24.1%
Finance cost Rs. (2,071) 1.9%
Profit before taxation Rs. 24,283 22.2%
Taxation Rs. (6,869) 6.3%
Profit for the year Rs. 17,414 15.9%
 Engro Fertilizers
Statement of Financial Position
2017 2016 2015
Rs. (millions) % Rs. (millions) % Rs. (millions) %

Rs. 68,923 61.6% Rs. 70,168 68.3% Rs. 72,199 68.1%

Rs. 4,475 4.0% Rs. 4,451 4.3% Rs. 4,462 4.2%
Rs. - 0.0% Rs. - 0.0% Rs. 73 0.1%
Rs. 135 0.1% Rs. 121 0.1% Rs. 160 0.2%
Rs. 73,533 65.8% Rs. 74,740 72.7% Rs. 76,894 72.5%

Rs. 5,280 4.7% Rs. 4,887 4.8% Rs. 4,639 4.4%

Rs. 7,636 6.8% Rs. 6,799 6.6% Rs. 7,029 6.6%
Rs. 5,419 4.8% Rs. 7,585 7.4% Rs. 2,262 2.1%
Rs. - 0.0% Rs. - 0.0% Rs. 29 0.0%
Rs. 1,157 1.0% Rs. 683 0.7% Rs. 595 0.6%
Rs. 8,807 7.9% Rs. 6,986 6.8% Rs. 1,359 1.3%
Rs. - 0.0% Rs. - 0.0% Rs. 705 0.7%
Rs. 25 0.0% Rs. - 0.0% Rs. - 0.0%
Rs. 8,163 7.3% Rs. 1,040 1.0% Rs. 11,650 11.0%
Rs. 1,796 1.6% Rs. 84 0.1% Rs. 924 0.9%
Rs. 38,283 34.2% Rs. 28,064 27.3% Rs. 29,192 27.5%
Rs. 111,816 100.0% Rs. 102,804 100.0% Rs. 106,086 100.0%

Rs. 13,353 11.9% Rs. 13,309 12.9% Rs. 13,309 12.5%

Rs. 3,385 3.0% Rs. 3,132 3.0% Rs. 3,132 3.0%
Rs. - 0.0% Rs. - 0.0% Rs. - 0.0%
Rs. 83 0.1% Rs. 11 0.0% Rs. 14 0.0%
Rs. - 0.0% Rs. - 0.0% Rs. (4) 0.0%
Rs. (47) 0.0% Rs. (27) 0.0% Rs. (40) 0.0%
Rs. 25,696 23.0% Rs. 25,223 24.5% Rs. 25,921 24.4%
Rs. 42,470 38.0% Rs. 41,648 40.5% Rs. 42,332 39.9%

Rs. 22,784 20.4% Rs. 29,380 28.6% Rs. 25,290 23.8%

Rs. - 0.0% Rs. - 0.0% Rs. - 0.0%
Rs. - 0.0% Rs. - 0.0% Rs. - 0.0%
Rs. 9,454 8.5% Rs. 7,561 7.4% Rs. 5,960 5.6%
Rs. 175 0.2% Rs. 157 0.2% Rs. 125 0.1%
Rs. 32,413 29.0% Rs. 37,098 36.1% Rs. 31,375 29.6%

Rs. 21,966 19.6% Rs. 14,969 14.6% Rs. 17,702 16.7%

Rs. 595 0.5% Rs. 584 0.6% Rs. 852 0.8%
Rs. 913 0.8% Rs. 1,104 1.1% Rs. 2,593 2.4%

Rs. 8,120 7.3% Rs. 5,172 5.0% Rs. 10,737 10.1%

Rs. 50 0.0% Rs. 49 0.0% Rs. 48 0.0%
Rs. 5,264 4.7% Rs. 1,910 1.9% Rs. 75 0.1%
Rs. 25 0.0% Rs. 20 0.0% Rs. 6 0.0%
Rs. - 0.0% Rs. 250 0.2% Rs. 366 0.3%
Rs. 36,933 33.0% Rs. 24,058 23.4% Rs. 32,379 30.5%
Rs. 69,346 62.0% Rs. 61,156 59.5% Rs. 63,754 60.1%
Rs. 111,816 100.0% Rs. 102,804 100.0% Rs. 106,086 100.0%

Statement of Comprehensive Income

2017 2016 2015
Rs. (millions) % Rs. (millions) % Rs. (millions) %
Rs. 77,129 100.0% Rs. 69,537 100.0% Rs. 85,421 100.0%
Rs. (53,911) 69.9% Rs. (52,098) 74.9% Rs. (55,724) 65.2%
Rs. 23,218 30.1% Rs. 17,439 25.1% Rs. 29,697 34.8%
Rs. 5,866 7.6% Rs. 8,143 11.7% Rs. 4,393 5.1%
Rs. 29,084 37.7% Rs. 25,582 36.8% Rs. 34,090 39.9%
Rs. (7,245) 9.4% Rs. (6,705) 9.6% Rs. (5,466) 6.4%
Rs. (1,294) 1.7% Rs. (907) 1.3% Rs. (896) 1.0%
Rs. (1,234) 1.6% Rs. (1,149) 1.7% Rs. (2,034) 2.4%
Rs. 19,311 25.0% Rs. 16,821 24.2% Rs. 25,694 30.1%
Rs. (2,648) 3.4% Rs. (3,187) 4.6% Rs. (4,627) 5.4%
Rs. 16,663 21.6% Rs. 13,634 19.6% Rs. 21,067 24.7%
Rs. (5,509) 7.1% Rs. (4,351) 6.3% Rs. (6,249) 7.3%
Rs. 11,154 14.5% Rs. 9,283 13.3% Rs. 14,818 17.3%
 2014 2013
Rs. (millions) % Rs. (millions) %

Rs. 74,963 67.1% Rs. 79,315 72.2%

Rs. 118 0.1% Rs. 138 0.1%
Rs. - 0.0% Rs. - 0.0%
Rs. 94 0.1% Rs. 109 0.1%
Rs. 75,175 67.3% Rs. 79,562 72.4%

Rs. 4,714 4.2% Rs. 4,369 4.0%

Rs. 1,101 1.0% Rs. 1,382 1.3%
Rs. 757 0.7% Rs. 758 0.7%
Rs. - 0.0% Rs. 130 0.1%
Rs. 433 0.4% Rs. 626 0.6%
Rs. 19 0.0% Rs. 28 0.0%
Rs. - 0.0% Rs. 557 0.5%
Rs. - 0.0% Rs. - 0.0%
Rs. 25,086 22.5% Rs. 18,058 16.4%
Rs. 4,443 4.0% Rs. 4,458 4.1%
Rs. 36,553 32.7% Rs. 30,366 27.6%
Rs. 111,728 100.0% Rs. 109,928 100.0%

Rs. 13,183 11.8% Rs. 12,228 11.1%

Rs. 2,261 2.0% Rs. 11 0.0%
Rs. - 0.0% Rs. 2,119 1.9%
Rs. - 0.0% Rs. - 0.0%
Rs. (39) 0.0% Rs. (148) 0.1%
Rs. (14) 0.0% Rs. (21) 0.0%
Rs. 19,088 17.1% Rs. 10,880 9.9%
Rs. 34,479 30.9% Rs. 25,069 22.8%

Rs. 36,091 32.3% Rs. 52,896 48.1%

Rs. - 0.0% Rs. 3,000 2.7%
Rs. 7 0.0% Rs. 1,531 1.4%
Rs. 5,227 4.7% Rs. 4,655 4.2%
Rs. 113 0.1% Rs. 104 0.1%
Rs. 41,438 37.1% Rs. 62,186 56.6%

Rs. 24,727 22.1% Rs. 18,012 16.4%

Rs. 1,362 1.2% Rs. 1,480 1.3%
Rs. 676 0.6% Rs. - 0.0%

Rs. 7,913 7.1% Rs. 2,924 2.7%

Rs. 43 0.0% Rs. 44 0.0%
Rs. - 0.0% Rs. - 0.0%
Rs. - 0.0% Rs. - 0.0%
Rs. 1,090 1.0% Rs. 213 0.2%
Rs. 35,811 32.1% Rs. 22,673 20.6%
Rs. 77,249 69.1% Rs. 84,859 77.2%
Rs. 111,728 100.0% Rs. 109,928 100.0%

2014 2013
Rs. (millions) % Rs. (millions) %
Rs. 61,425 100.0% Rs. 50,129 100.0%
Rs. (38,822) 63.2% Rs. (28,008) 55.9%
Rs. 22,603 36.8% Rs. 22,121 44.1%
Rs. 2,449 4.0% Rs. 1,105 2.2%
Rs. 25,052 40.8% Rs. 23,226 46.3%
Rs. (4,441) 7.2% Rs. (3,511) 7.0%
Rs. (772) 1.3% Rs. (601) 1.2%
Rs. (1,318) 2.1% Rs. (2,060) 4.1%
Rs. 18,521 30.2% Rs. 17,054 34.0%
Rs. (6,625) 10.8% Rs. (8,670) 17.3%
Rs. 11,896 19.4% Rs. 8,384 16.7%
Rs. (3,687) 6.0% Rs. (2,887) 5.8%
Rs. 8,209 13.4% Rs. 5,497 11.0%
 2018
Rs. (millions)
Assets
Non-Current Assets
Property, plant and equipment Rs. 68,204
Intangible assets Rs. 4,488
Deffered taxation Rs. -
Long-term loans and advances Rs. 142
Total Non Current Assets Rs. 72,834
Current Assets
Stores, spare parts and loose tools Rs. 5,325
Stock-in-trade Rs. 11,538
Trade debts Rs. 9,110
Derivative financial instruments Rs. -
Loan, advances, deposits and prepaymetns Rs. 1,363
Other receivables Rs. 9,044
Taxes recoverable Rs. -
Accrued income Rs. 37
Short-term investments Rs. 7,740
Cash and bank balances Rs. 730
Total Current Assets Rs. 44,887
Total Assets Rs. 117,721

Equity and Liabilities

Equity
Share capital Rs. 13,353
Share premium Rs. 3,385
Advance against issue of shares Rs. -
Exchange revaluation reserve Rs. 409
Hedging reserves Rs. -
Remeasurement of post employment benefits Rs. (45)
Unappropriated profit Rs. 28,421
Total equity Rs. 45,523
Liabilities
Non-Current Liabilities
Borrowings Rs. 25,715
Working capital loan from Holding Company Rs. -
Derivative financial instruments Rs. -
Deffered liabilities Rs. 7,161
Service benefits obligations Rs. 193
Total Non-Current Liabiliteis Rs. 33,069
Current Liabilities
Trade and other payables Rs. 29,072
Accrued interest/mark-up Rs. 426
Taxes payable Rs. 3,408
Current Portion of:
borrowings Rs. 5,096
Retirement and other service benefits obligations Rs. 51
Short term borrowing Rs. 1,010
Unclaimed dividend Rs. 66
Derivative financial instruments Rs. -
Total Current Liabilities Rs. 39,129
Total Liabilities Rs. 72,198
Total Equity and Liabilities Rs. 117,721

2018
Rs. (millions)
Sales Rs. 109,197
Cost of sales Rs. (73,880)
Gross profit Rs. 35,317
Other income Rs. 2,062
Rs. 37,379
Selling and distribution expenses Rs. (8,008)
Administrative expenses Rs. (1,585)
Other operating expenses Rs. (1,432)
Profit from operations Rs. 26,354
Finance cost Rs. (2,071)
Profit before taxation Rs. 24,283
Taxation Rs. (6,869)
Profit for the year Rs. 17,414
 Engro Fertilizers
Statement of Financial Position
2018 2017 2016
% (18 vs 17) Rs. (millions) % (17 vs 16) Rs. (millions) % (16 vs 15)

-1.0% Rs. 68,923 -1.8% Rs. 70,168 -2.8%

0.3% Rs. 4,475 0.5% Rs. 4,451 -0.2%
- Rs. - - Rs. - -
5.2% Rs. 135 11.6% Rs. 121 -24.4%
-1.0% Rs. 73,533 -1.6% Rs. 74,740 -2.8%

0.9% Rs. 5,280 8.0% Rs. 4,887 5.3%

51.1% Rs. 7,636 12.3% Rs. 6,799 -3.3%
68.1% Rs. 5,419 -28.6% Rs. 7,585 235.3%
- Rs. - - Rs. - -100.0%
17.8% Rs. 1,157 69.4% Rs. 683 14.8%
2.7% Rs. 8,807 26.1% Rs. 6,986 414.1%
- Rs. - - Rs. - -100.0%
48.0% Rs. 25 - Rs. - -
-5.2% Rs. 8,163 684.9% Rs. 1,040 -91.1%
-59.4% Rs. 1,796 2038.1% Rs. 84 -90.9%
17.3% Rs. 38,283 36.4% Rs. 28,064 -3.9%
5.3% Rs. 111,816 8.8% Rs. 102,804 -3.1%

0.0% Rs. 13,353 0.3% Rs. 13,309 0.0%

0.0% Rs. 3,385 8.1% Rs. 3,132 0.0%
- Rs. - - Rs. - -
392.8% Rs. 83 654.5% Rs. 11 -21.4%
- Rs. - - Rs. - -100.0%
-4.3% Rs. (47) 74.1% Rs. (27) -32.5%
10.6% Rs. 25,696 1.9% Rs. 25,223 -2.7%
7.2% Rs. 42,470 2.0% Rs. 41,648 -1.6%

12.9% Rs. 22,784 -22.5% Rs. 29,380 16.2%

- Rs. - - Rs. - -
- Rs. - - Rs. - -
-24.3% Rs. 9,454 25.0% Rs. 7,561 26.9%
10.3% Rs. 175 11.5% Rs. 157 25.6%
2.0% Rs. 32,413 -12.6% Rs. 37,098 18.2%

32.3% Rs. 21,966 46.7% Rs. 14,969 -15.4%

 -28.4% Rs. 595 1.9% Rs. 584 -31.5%
273.3% Rs. 913 -17.3% Rs. 1,104 -57.4%

-37.2% Rs. 8,120 57.0% Rs. 5,172 -51.8%

2.0% Rs. 50 2.0% Rs. 49 2.1%
-80.8% Rs. 5,264 175.6% Rs. 1,910 2446.7%
164.0% Rs. 25 25.0% Rs. 20 233.3%
- Rs. - -100.0% Rs. 250 -31.7%
5.9% Rs. 36,933 53.5% Rs. 24,058 -25.7%
4.1% Rs. 69,346 13.4% Rs. 61,156 -4.1%
5.3% Rs. 111,816 8.8% Rs. 102,804 -3.1%

Statement of Comprehensive Income

2018 2017 2016
% (18 vs 17) Rs. (millions) % (17 vs 16) Rs. (millions) % (16 vs 15)
41.6% Rs. 77,129 10.9% Rs. 69,537 -18.6%
37.0% Rs. (53,911) 3.5% Rs. (52,098) -6.5%
52.1% Rs. 23,218 33.1% Rs. 17,439 -41.3%
-64.8% Rs. 5,866 -28.0% Rs. 8,143 85.4%
28.5% Rs. 29,084 13.7% Rs. 25,582 -25.0%
10.5% Rs. (7,245) 8.1% Rs. (6,705) 22.7%
22.5% Rs. (1,294) 42.7% Rs. (907) 1.2%
16.0% Rs. (1,234) 7.4% Rs. (1,149) -43.5%
36.5% Rs. 19,311 14.8% Rs. 16,821 -34.5%
-21.8% Rs. (2,648) -16.9% Rs. (3,187) -31.1%
45.7% Rs. 16,663 22.2% Rs. 13,634 -35.3%
24.7% Rs. (5,509) 26.6% Rs. (4,351) -30.4%
56.1% Rs. 11,154 20.2% Rs. 9,283 -37.4%
n
2015 2014 2013
Rs. (millions) % (15 vs 14) Rs. (millions) % (14 vs 13) Rs. (millions)

Rs. 72,199 -3.7% Rs. 74,963 -5.5% Rs. 79,315

Rs. 4,462 3681.4% Rs. 118 -14.5% Rs. 138
Rs. 73 - Rs. - - Rs. -
Rs. 160 70.2% Rs. 94 -13.8% Rs. 109
Rs. 76,894 2.3% Rs. 75,175 -5.5% Rs. 79,562

Rs. 4,639 -1.6% Rs. 4,714 7.9% Rs. 4,369

Rs. 7,029 538.4% Rs. 1,101 -20.3% Rs. 1,382
Rs. 2,262 198.8% Rs. 757 -0.1% Rs. 758
Rs. 29 - Rs. - -100.0% Rs. 130
Rs. 595 37.4% Rs. 433 -30.8% Rs. 626
Rs. 1,359 7052.6% Rs. 19 -32.1% Rs. 28
Rs. 705 - Rs. - -100.0% Rs. 557
Rs. - - Rs. - - Rs. -
Rs. 11,650 -53.6% Rs. 25,086 38.9% Rs. 18,058
Rs. 924 -79.2% Rs. 4,443 -0.3% Rs. 4,458
Rs. 29,192 -20.1% Rs. 36,553 20.4% Rs. 30,366
Rs. 106,086 -5.0% Rs. 111,728 1.6% Rs. 109,928

Rs. 13,309 1.0% Rs. 13,183 7.8% Rs. 12,228

Rs. 3,132 38.5% Rs. 2,261 20454.5% Rs. 11
Rs. - - Rs. - -100.0% Rs. 2,119
Rs. 14 - Rs. - - Rs. -
Rs. (4) -89.7% Rs. (39) -73.6% Rs. (148)
Rs. (40) 185.7% Rs. (14) -33.3% Rs. (21)
Rs. 25,921 35.8% Rs. 19,088 75.4% Rs. 10,880
Rs. 42,332 22.8% Rs. 34,479 37.5% Rs. 25,069

Rs. 25,290 -29.9% Rs. 36,091 -31.8% Rs. 52,896

Rs. - - Rs. - -100.0% Rs. 3,000
Rs. - -100.0% Rs. 7 -99.5% Rs. 1,531
Rs. 5,960 14.0% Rs. 5,227 12.3% Rs. 4,655
Rs. 125 10.6% Rs. 113 8.7% Rs. 104
Rs. 31,375 -24.3% Rs. 41,438 -33.4% Rs. 62,186

Rs. 17,702 -28.4% Rs. 24,727 37.3% Rs. 18,012

 Rs. 852 -37.4% Rs. 1,362 -8.0% Rs. 1,480
Rs. 2,593 283.6% Rs. 676 - Rs. -

Rs. 10,737 35.7% Rs. 7,913 170.6% Rs. 2,924

Rs. 48 11.6% Rs. 43 -2.3% Rs. 44
Rs. 75 - Rs. - - Rs. -
Rs. 6 - Rs. - - Rs. -
Rs. 366 -66.4% Rs. 1,090 411.7% Rs. 213
Rs. 32,379 -9.6% Rs. 35,811 57.9% Rs. 22,673
Rs. 63,754 -17.5% Rs. 77,249 -9.0% Rs. 84,859
Rs. 106,086 -5.0% Rs. 111,728 1.6% Rs. 109,928

ome
2015 2014 2013
Rs. (millions) % (15 vs 14) Rs. (millions) % (14 vs 13) Rs. (millions)
Rs. 85,421 39.1% Rs. 61,425 22.5% Rs. 50,129
Rs. (55,724) 43.5% Rs. (38,822) 38.6% Rs. (28,008)
Rs. 29,697 31.4% Rs. 22,603 2.2% Rs. 22,121
Rs. 4,393 79.4% Rs. 2,449 121.6% Rs. 1,105
Rs. 34,090 36.1% Rs. 25,052 7.9% Rs. 23,226
Rs. (5,466) 23.1% Rs. (4,441) 26.5% Rs. (3,511)
Rs. (896) 16.1% Rs. (772) 28.5% Rs. (601)
Rs. (2,034) 54.3% Rs. (1,318) -36.0% Rs. (2,060)
Rs. 25,694 38.7% Rs. 18,521 8.6% Rs. 17,054
Rs. (4,627) -30.2% Rs. (6,625) -23.6% Rs. (8,670)
Rs. 21,067 77.1% Rs. 11,896 41.9% Rs. 8,384
Rs. (6,249) 69.5% Rs. (3,687) 27.7% Rs. (2,887)
Rs. 14,818 80.5% Rs. 8,209 49.3% Rs. 5,497
2013 2012
% (13 vs 12) Rs. (millions)

-4.3% Rs. 82,878

-14.8% Rs. 162
- Rs. -
29.8% Rs. 84
-4.3% Rs. 83,124

6.4% Rs. 4,107

-18.1% Rs. 1,687
-27.5% Rs. 1,046
12900.0% Rs. 1
58.5% Rs. 395
-56.3% Rs. 64
-72.2% Rs. 2,000
- Rs. -
585.3% Rs. 2,635
82.0% Rs. 2,449
111.1% Rs. 14,384
12.7% Rs. 97,508

14.0% Rs. 10,728

0.0% Rs. 11
- Rs. -
- Rs. -
-54.3% Rs. (324)
- Rs. -
102.1% Rs. 5,383
58.7% Rs. 15,798

9.1% Rs. 48,482

0.0% Rs. 3,000
207.4% Rs. 498
37.7% Rs. 3,381
5.1% Rs. 99
12.1% Rs. 55,460

126.3% Rs. 7,960

 -17.2% Rs. 1,788
- Rs. -

-80.4% Rs. 14,896

10.0% Rs. 40
-100.0% Rs. 1,000
- Rs. -
-62.4% Rs. 566
-13.6% Rs. 26,250
3.9% Rs. 81,710
12.7% Rs. 97,508

2013 2012
% (13 vs 12) Rs. (millions)
63.7% Rs. 30,627
34.9% Rs. (20,766)
124.3% Rs. 9,861
191.6% Rs. 379
126.8% Rs. 10,240
40.4% Rs. (2,500)
3.1% Rs. (583)
407.4% Rs. (406)
152.6% Rs. 6,751
-19.0% Rs. (10,703)
-312.1% Rs. (3,952)
-383.9% Rs. 1,017
-287.3% Rs. (2,935)
 Engro Fertilizers
Ratio Analysis
2018 2017 2016
Profitability Ratios
Gross Profit Margin % 42.2% 32.5% 24.6%
Net Profit Margin % 25.2% 16.1% 13.0%
Return on Equity % 38.8% 24.7% 21.7%
Return on Capital Employed % 30.8% 23.9% 21.0%
Return on Assets % 14.6% 9.5% 8.8%
Liquidity Ratios
Current Ratio Times 1.1 1.0 1.1
Quick/Acid Test Ratio Times 0.9 0.7 0.6
Asset Management/Activity/Turnover Ratios
Intventory Turnover Rate Times 11.8 8.2 7.6
No. of Days Inventory Days 31 44 48
Accounts Receivable Turnover Rate Times 22.6 11.4 14.1
Days Sales Outstanding (DSO) Days 16 32 26
Accounts Payable Turnover Ratio Times 16.3 9.4 5.4
Days Payable Outstanding (DPO) Days 22 39 68
Total Asset Turnover Times 0.6 0.6 0.7
Fixed Asset Turnover Times 1.0 0.9 1.0
Operating Cycle Days 25 38 6
Market Value Ratios
Market Value/Share Rs. Rs. 69.1 Rs. 67.7 Rs. 68.0
Dividends Per Share Rs. Rs. 11.0 Rs. 8.5 Rs. 7.0
Earnings Per Share Rs. ### Rs.7,591.2 Rs.6,780.7
Market to Book Value Ratio Times 0.0 0.0 0.0
Price Earning Ratio Times 0.0 0.0 0.0
Dividend Yeild Ratio % 15.9% 12.6% 10.3%
Dividend Cover Ratio Times 1134.8 893.1 968.7
Equity Multiplier Times 2.7 2.6 2.5
Debt Ratios
Debt Ratio (Debt to Assets) % 62.3% 61.4% 59.7%
Debt to Equity Ratio % 165.5% 159.3% 146.8%
Long Term Debt Ratio (Long Term Debt to Assets) % 29.0% 30.5% 36.2%
Times Interest Earned Ratio Times 11.4 6.9 5.3
 2015 2014

36.7% 36.8%
17.2% 13.4%
35.3% 23.8%
34.6% 24.4%
14.3% 7.4%

0.9 1.0
0.5 0.9

13.8 31.3
26 12
58.0 81.1
6 5
4.2 3.7
87 99
0.8 0.6
1.2 0.8
-54 -82

Rs. 84.1 Rs. 78.1

Rs. 6.0 Rs. 3.0
### ###
0.0 0.0
0.0 0.0
7.1% 3.8%
1881.8 2075.3
2.5 3.2

59.6% 69.1%
147.8% 223.3%
30.3% 37.2%
5.6 2.8
 Fauji Fertilizer Company Limited
Ratio Analysis
2018 2017 2016
Profitability Ratios
Gross Profit Margin % 28.0% 25.4% 31.3%
Net Profit Margin % 13.3% 11.0% 14.8%
Return on Equity % 43.3% 36.5% 41.8%
Return on Capital Employed % 55.6% 40.5% 44.1%
Return on Assets % 9.9% 9.9% 13.0%
Liquidity Ratios
Current Ratio Times 1.0 1.0 0.9
Quick/Acid Test Ratio Times 0.8 0.9 0.7
Asset Management/Activity/Turnover Ratios
Intventory Turnover Rate Times 11.7 31.4 11.7
No. of Days Inventory Days 31 12 31
Accounts Receivable Turnover Rate Times 10.0 10.0 13.0
Days Sales Outstanding (DSO) Days 36 37 29
Accounts Payable Turnover Ratio Times 2.0 5.0 18.0
Days Payable Outstanding (DPO) Days 156 72 20
Total Asset Turnover Times 0.7 0.9 0.9
Fixed Asset Turnover Times 5.0 4.4 3.8
Operating Cycle Days -114 -45 25
Market Value Ratios
Market Value/Share Rs. Rs. 92.9 Rs. 79.1 Rs. 104.4
Dividends Per Share Rs. Rs. 8.9 Rs. 7.0 Rs. 7.9
Earnings Per Share Rs. Rs. 11.4 Rs. 8.4 Rs. 9.3
Market to Book Value Ratio Times 9.3 7.9 10.4
Price Earning Ratio Times 8.2 9.4 11.3
Dividend Yeild Ratio % 9.4% 7.7% 7.2%
Dividend Cover Ratio Times 1.3 1.2 1.2
Equity Multiplier Times 4.4 3.7 3.2
Debt Ratios
Debt Ratio (Debt to Assets) % 77.2% 73.0% 68.9%
Debt to Equity Ratio % 338.8% 270.1% 221.8%
Long Term Debt Ratio (Long Term Debt to Assets) 9.0% 18.7% 23.6%
Times Interest Earned Ratio Times 14.3 7.4 8.2
 2015 2014

35.2% 38.3%
19.4% 22.4%
61.4% 70.8%
60.1% 96.2%
20.9% 21.0%

0.8 0.7
0.6 0.6

18.4 78.1
20 5
42.0 107.0
9 3
4.0 3.0
88 124
1.1 0.9
4.0 4.0
-64 -119

Rs. 118.0 Rs. 117.1

Rs. 11.9 Rs. 13.7
Rs. 13.2 Rs. 14.3
11.8 11.7
9.0 8.2
8.8% 12.0%
1.1 1.1
2.9 3.4

65.9% 70.3%
193.4% 237.2%
25.6% 8.2%
17.6 31.9