Quetta Textile Mills Limited

Profit & Loss Statement

For the year ended June 30, 2008 2007 2006

Sales - Net 27 5,769,155,238 4,912,815,014 4,562,635,157

Cost of Sales 28 (5,175,311,742) (4,412,400,603) (4,166,634,349)
89.71% 89.81% 91.32%
Gross Profit 593,843,496 500,414,411 396,000,808
10.29% 10.19% 8.68%
Operating Expenses
Administrative Expense 29 (34,780,457) (22,352,685) (22,312,099)
Other Operating Expense 30 (29,222,297) (10,154,612) (4,804,777)
(64,002,754) (32,507,297) (27,116,876)

Other Operating Income 31 11,973,502 25,256,514 15,034,228

Operating Profit 541,814,244 493,163,628 383,918,160

9.39% 10.04% 8.41%
Financial Charges 32 (495,258,209) (348,829,214) (292,627,391)
8.58% 7.10% 6.41%
Net Profit Before Tax 46,556,035 144,334,414 91,290,769
0.81% 2.94% 2.00%
Taxation
Current Year 33 (33,306,925) (37,345,590) (38,657,021)
Deferred 10.6.1 13,937,469 (23,791,553) -
(19,369,456) (61,137,143) (38,657,021)
0.34% 1.24% 0.85%
Net Profit After Tax 27,186,579 83,197,271 52,633,748
0.47% 1.69% 1.15%

Cost is v high
Financial charges have substantially increased
Net profit is too much reduced this year
Financial charges have substantially increased
Quetta Textiles Mills Limited
Balance Sheet
For the year ended June 30, 2008 2007 2006

Assets Equity & Liabilities

Non - Current Assets Share Capital & Reserves

Authorized capital
Property , Plant & Equipment 15.00 3972109702.00 3340923687.00 2803300024.00 20,000,000 (2007:10,000,000)
Capital Work in Process 16.00 147512817.00 91207681.00 266463675.00 Ordinary shares @ Rs. 10/- each
4119622519.00 3432131368.00 3069763699.00 15,000,000 Preference Shares @ 10/- each
0.20 0.12
Long Term Investment 17.00 132289086.00 2010704.00 58417720.00
64.79 -0.97 Paid up capital 5.00
Long Term Deposit 18.00 6512523.00 1082964.00 1080964.00 Reserves
5.01 0.00 Accumulated (loss)/ Un-appropriated profit

Surplus on revaluation of Property, plant &

equipment 6.00
Loans from Directors - Subordinated 7.00

Current Assets Non - Current Liabilities

Stores, spares & loose tools 19.00 280721841.00 219343215.00 179286069.00 Loans from Financial Institutions 8.00
Stock in trade 20.00 2074551749.00 1103996623.00 1031153349.00 Liabilities against Finance Lease 9.00
Trade debts 21.00 555620382.00 376336272.00 356122723.00 Deferred liabilities 10.00
Other Financial Assets 22.00 61787443.00 85109715.00 24974792.00 SUM
Loans & Advances 23.00 193336741.00 317245110.00 340362944.00
Short Term Prepayments 24.00 1350307.00 493739.00 174266.00
Other Receivbles 25.00 84589488.00 117725510.00 109509503.00 Current Liabilities
Cash & bank balances 26.00 2855264.00 5733404.00 6724292.00 Trade & other payables 12.00
3254813215.00 2225983588.00 2048307938.00 Markup accrued 13.00
0.46 0.09 Short term borrowing 11.00
Current portion of long term financing
7513237343.00 5661208624.00 5177570321.00
0.33 0.09

sum of liabilities
Capital

Aggressive Balance Sheet

Not a going concern v high leverage
Company trying to have exponential sales with super nor
Credit should not be given
2008 2007 2006

200000000.00 100000000.00 100000000.00

150000000.00 150000000.00 150000000.00

31250000.00 31250000.00 31250000.00

16555537.00 115717637.00 115637319.00
366096970.00 465930301.00 387420530.00

413902507.00 612897938.00 534307849.00

-0.32 0.15

340391684.00 119794763.00 119794763.00

738661770.00 490000000.00 467545149.00

2164689452.00 2090583328.00 1554972391.00

154204811.00 27557117.00 34748697.00
132804248.00 73704128.00 46666124.00
2451698511.00 2191844573.00 1636387212.00
0.12 0.34

240926340.00 218820193.00 167418956.00

142501785.00 149156862.00 65599854.00
2744279401.00 1395775206.00 1800939336.00
440875345.00 482919089.00 385577202.00
 3568582871.00 2246671350.00 2419535348.00
0.59 -0.07
7513237343.00 5661208624.00 5177570321.00
0.33 0.09

6,020,281,382 80.13%
1,492,955,961 19.87%

Company trying to have exponential sales with super normal profits as aggressiveness shows