BALANCE SHEET OF MAPLE LEAF

ASSETS
NON -CURRENT ASSETS
Property,Plant And Equipment
Intangible Assets
Investments
Loans to employees
Deposits and prepayments

2008

2007

.RUPEES IN THOUSAND...
20,081,448
19,330,866
15,082
4,578
6,121
6,373
54,014
43,200

20,156,665

19,385,017

3,325,744
433,952
743,366
365,748
82,814
734,859
54,532
763
57,769
9,768
21,780
44,907
118,894
5,994,896

2,014,580
369,709
194,587
242,226
85,544
944,669
15,373
402
37,742
8,539
1,198
14,029
123,359
4,051,957

26,151,561

23,436,974

CURRENT ASSETS
Stores,Spare and loose tools
Stock in trade
trade debts
Fair value derivative financial instruments
Loans and advances
Investments
Deposits and short term prepayments
Accrued profit
Sale tax,customs and excise duty
Due from gratuity fund trust
Other receivables
Taxation - net
Cash and bank balances

TOTAL ASSETS
EQUITY AND LIABILTIES

Share Capital and Reserves

Authorized Capital

5,000,000

5,000,000

Issued,subscribed and paid up capital

4,264,108

4,264,108

Reserves
Unappropriated profit

4,644,355
(547,574)

4,457,328
271,601

Total Equity

8,360,889

8,993,037

35,224
241,539
8,000,000
1,000,000
957,434
2,582
154,741
16,688
10,408,208

250,000
8,576,657
268,040
679,676
2,702
897,183
13,192
10,687,450

1,080,000
188,011

1,792,519
13,858

3,369,738
2,495,559
194,568
54,588
7,382,464

797,585
719,311
378675
0
54,539
3,756,487

LIABILTIES
NON -CURRENT LIABILTIES
Loans from related parties
Long Term loans and finance
Redeemable capital
Syndicated term finance
Liabilties against assets subject to finance lease
Lease finance advances and accured interest thereon
Long Term deposits
Deferred taxation
Employee' compensated absences

CURRENT LIABILTIES
Current portion of:
redeemable capital
Long Term loans and finances
syndicated term finace
Liabilties against assets subject to finance lease
Short term finance
Trade and other payable
Accured profit and interest / mark-up
Taxation -net
Dividends

TOTAL EQUITY AND LIABILTIES

26,151,561

23,436,974

2006

USAND...
16,088,505
368,881
7,127
15,923

16,480,436
1,847,926
200,946
163,459
299,257
7,314
559
34,611
9,452
100,938
2,664,462

19,144,898

5,000,000
3,519,581
3,063,529
972,594
7,555,704

7,868,948
12,226
74,146
2,977
971,128
10,250
8,939,675

41,650
538,530
4,481
947,160
752,172
279,112
31,828
54,586
2,649,519

19,144,898

PROFIT AND LOSS ACCOUNT

2008
Sales
Cost of sales

7,815,829
(6,491,999)

Gross profit

1,323,830

Administrative expences
Distribution cost
Other operating expences

2007
RUPEES IN THOUSAND
3,711,081
(3,401,188)

309,893

2006
5,709,792
(3,561,212)

2,148,580

(121,236)
(834,849)
(24,838)
(980,923)

(67,291)
(69,021)
(18,371)
(154,683)

342,907

155,210

Other operating income

Operating profit from operation
Finance cost

105,656
448,563
(1,812,807)

43,224
198,434
(338,453)

26,671
1,975,792
(340,978)

Profit / (Loss) after taxation

Taxation
Current
Deferred

(1,364,244)

(140,019)

1,634,814

44,815
(732,924)
(688,109)

(9,477)
(172,589)
(182,066)

Profit after taxation

(676,135)

42,047

(60,474)
(20,961)
(118,024)
(199,459)

1,949,121

(28,536)
(547,038)
(575,574)

1,059,240

RUPEES.
Earning Per Share

#REF!

#REF!

#REF!

DIFFERENT RATIO
2007

2008
Liquidity / Solvencey Ratio
Current Ratio
Acid test quick Ratio
Cash Ratio
Net Working Capital
Debt Ratio
Debt To Total Asset Ratio
Debt To Total Equity Ratio
Long term debt to total asset
Long term debt to equity
Capital structure ratio
Coverage Ratio
Interest Coverage
Financial Coverage Ratio
Activity Efficencey / Asset management Ratio
Inventory Turnover ratio
Receiveable turnover ratio
Payable Turnover
Receiveable Turnover in Days
Inventory Turnover in Days
Fixed Asset Turnover
Total Asset Turnover
Profitability Ratio
Gross Profit Margin
Net Profit Margin
Return on Asset
Return on Equity

0.81
0.75
0.02
-0.188

1.08
0.98
0.03
0.079

0.68
2.13
0.40
1.24
0.55

0.62
1.61
0.46
1.19
0.54

0.25

0.59

14.96
10.51
2.60
34.24
24.06
0.39
0.30

9.20
19.07
4.73
18.88
39.13
0.19
0.16

%
16.94
-8.65
-2.59
-8.09

8.35
1.13
0.18
0.47

TIO
2006
1.01
0.93
0.04
0.006
0.61
1.53
0.47
1.18
0.54

5.79
17.72
34.93
4.73
10.31
20.31
0.35
0.30
%
37.63
18.55
5.53
14.02

Common Size Analys

Horizantal
(Rupees in Thousands)

ASSETS

2008

NON -CURRENT ASSETS

.RUPEES IN THOUSAND
%
76.79
0.06
0.00
0.02
0.21

Property,Plant And Equipment

Intangible Assets
Investments
Loans to employees
Deposits and prepayments

CURRENT ASSETS
Stores,Spare and loose tools
Stock in trade
trade debts
Fair value derivative financial instruments
Loans and advances
Investments
Deposits and short term prepayments
Accrued profit
Sale tax,customs and excise duty
Due from gratuity fund trust
Other receivables
Taxation - net
Cash and bank balances

12.72
1.66
2.84
1.40
0.32
2.81
0.21
0.0029
0.22
0.04
0.08
0.17
0.45

TOTAL ASSETS

100.00

EQUITY AND LIABILTIES

Share Capital and Reserves
Authorized Capital

-------

Issued,subscribed and paid up capital

16.31

Reserves

17.76

Unappropriated profit

Total Equity

-2.09
31.97

LIABILTIES
NON -CURRENT LIABILTIES
Loans from related parties
Long Term loans and finance
Redeemable capital
Syndicated term finance
Liabilties against assets subject to finance lease
Lease finance advances and accured interest thereon
Long Term deposits
Deferred taxation
Employee' compensated absences

0.13
0.92
30.59
3.82
3.66
0.00
0.01
0.59
0.06

CURRENT LIABILTIES
Current portion of:
redeemable capital
Long Term loans and finances
syndicated term finace
Liabilties against assets subject to finance lease
Short term finance
Trade and other payable
Accured profit and interest / mark-up
Taxation -net
Dividends

TOTAL EQUITY AND LIABILTIES

Sales
Cost of sales

Gross profit
Administrative expences
Distribution cost
Other operating expences

Other operating income

Operating profit from operation
Finance cost

0.00
0.00
4.13
0.72
12.89
9.54
0.74
0.00
0.21

100.00
100
-83.06
16.94
-1.55
-10.68
-0.32
-12.55
4.39
1.35
5.74
-23.19

Profit / (Loss) after taxation

Taxation
Current
Deferred

Profit after taxation

Earning Per Share

-17.45
0.57
-9.38
93.89
-8.65

Common Size Analysis

Common Size Analysis

Horizantal

Vertical

(Rupees in Thousands)

(Rupees in Thousands)

2007

2006

.RUPEES IN THOUSAND...
%
%
82.48
84.04
0.02
0.00
0.00
1.93
0.03
0.04
0.18
0.08

8.60
1.58
0.83
1.03
0.36
4.03
0.07
0.0017
0.16
0.04
0.01
0.06
0.53

9.65
1.05
0.85
0.00
1.56
0.00
0.04
0.0029
0.18
0.00
0.05
0.00
0.53

100.00

100.00

------

------18.19

18.38

19.02

16.00

2008

2007

.RUPEES IN THOUSAND...
%
%

1.16
38.37

5.08
39.47

1.07
36.59
0.00
0.00
1.14
2.90
0.01
3.83
0.06

0.00
41.10
0.00
0.00
0.06
0.39
0.02
5.07
0.05

0.00
7.65
0.00
0.06

0.22
2.81
0.00
0.02

3.40
3.07
1.62
0.00
0.23

4.95
3.93
1.46
0.17
0.29

100.00

100.00

100

100

on Size Analysis

cal

ousands)

2006

HOUSAND...
%
100
0
100
100
100

100
100
100
0
100
100
100
100
100
100

100

100
100

100
100

100
100
100
100
100
100

100
100
100
100
100
100
100
100

100