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 FRXQWU\V 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, )LQDQFLDO 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
WDNHQ DV JXLGHV WKDW DUH XVHIXO LQ HYDOXDWLQJ D FRPSDQ\V ILQDQFLDO SRVLWLRQ DQG RSHUDWLRQ DQG PDNLQJ
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.
x

Balance Sheet

Profit and Loss accounts

Statement of changes in Equity

Cash Flow Statement

Total shareholderV 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) $OOW\SHVRIRIILFHIXUQLWXUHVDQGHTXLSPHQW
(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.

vi

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

vii

(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. 'HEHQWXUHV7)&V
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. 6KDUHKROGHUVHTXLW\
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.

viii

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 voWLQJ LQ WKH FRPSDQ\V DQQXDO JHQHUDO PHHWLQJ
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) ,QWHUHVWRQZRUNHUVSURILWSDrticipation 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
,WLVSURYLVLRQRIWD[DWLRQPDGHRQFXUUHQW\HDUVSURILW

9. Total amount of dividend

It is the total dividend including interim dividend distributed or proposed to be distributed out of the current
\HDUVSURILW

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:
x

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:
x

Depreciation (loss of tangible asset value over time)

Deferred tax

Amortization (loss of intangible asset value over time)

xiii

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
7KH WRWDO RI VKDUHKROGHUV HTXLW\ DQG WRWDO QRQ- 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 GHEHQWXUHV7)&VDQGRWKHUIL[HGOLDELOLWLHV
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
OLDELOLWLHVLILWQHHGVWRFRQYHUWLWVTXLFNDVVHWVLQWRFDVK
Acid test or quick ratio = (Cash & bank balances + Trade debtors + Short term investments)/ Current
Liabilities.

xiv

7KHLGHDOTXLFNUDWLRLVZKLFKPHDVXUHVWKHILUPVFDSDFLW\WRSD\RIIFODLPVRIFXUUHQWFUHGLWRUV
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

7KLV LV D PHDVXUH RI FRPSDQ\V ILQDQFLDO OHYHUDJH DQG FDOFXODWHG E\ GLYLGLQJ LWV WRWDO OLDELOLWLHV E\
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)/ 6KDUHKROGHUVHTXLW\
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 = 1HWSURILWEHIRUHWD[HV$YHUDJHRI6KDUHKROGHUVHTXLW\

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) = 6KDUHKROGHUVHTXLW\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.49.72 billion or 10.38 percent from Rs.478.84 billion in 2009 to Rs.528.56
Billion in 20DVDJDLQVWDQLQFUHDVHRI5VELOOLRQRUSHUFHQWLQRYHU7RWDOVKDUHKROGHUV
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

6KDUHKROGHUV(TXLW\

16.99%

15.16%

Total Fixed Liabilities

-12.45%

869.99%

7.44%

49.40%

Total Capital Employed

3RVLWLYHJURZWKKDVEHHQREVHUYHGLQVKDUHKROGHUVHTXLW\KRZHYHUWRWDOIL[HGOLDELOities 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 and reserves & surplus during the year have been 10.38
percent and 21.41 percent respectively.

xviii

Figure 1:Total Capital Employed

1,400
1,200
1,000

2009

Billion Rs

800

2010

600
400
200
0
SE

LSL

LUSL

TFCs

EBO

SE= shareKROGHUV(TXLW\/6/ ORQJWHUPVHFXUHGORDQV

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
  7RWDO VKDUHKROGHUV HTXLW\ VWRRG DW

Figure 2:Components of Balance Sheet

5000

18.0%

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

Rs.1, 398 billion in 2010 reflecting an

1000

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

2009.

Total Assets

2009

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,

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.

however, shows a decline of 8.2% over the

year.

xix

Intangible
Assets

Long Term
Investment

Current Assets:
Current assets stood at Rs.1, 717
Figure 4:Current Assets

billion in 2010 with an increase of 18%

over Rs.1,456 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

Growth
32.2%

35.0%
30.0%

600
Billion Rs

balances

2009

25.0%

500

18.3%

400

20.0%
15.0%

300

10.0%

9.2%

financial sector increased by 11 percent

200

from Rs.245 billion in 2009 to Rs. 271

100

5.0%

0.0%

billion in 2010 as against a decrease of

6.9%

Cash & bank

balance

42 percent in the previous year. Cash

Inventories

Trade Debt

Short Trem
Investment

and bank balances increased by Rs. 12

Figure 5:Aggregate Composition of Assets

billion or 7 percent in 2010 as against a

previous

year.

The

short-term

investment increased by 18 percent or

Rs.14 billion in 2010 as compared to a

500
400
300
200
100
0

Billion Rupees

decrease of 4 percent witnessed during

2005

2006

2007

2008

2009

2010

Working capital at Rs. 47 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

55

47

decrease of 68 percent in 2009.

2010 from Rs.55 billion in 2009.

Liabilities
Figure 6:Liabilites

Total liabilities stood at Rs.2,616

10% over Rs.2,387 billion in 2009.

Current liabilities shows an increase of
19% in 2010 over 2009, but non-

Billon Rs

billion in 2010 showing an increase of

1800
1600
1400
1200
1000
800
600
400
200
0

-4.1%
Current Liabilities

Non-Current
Laibilities

2009

1400.05

986.97

2010

1670.14

946.38

19.3%

-4.1%

current liabilities declined by 4% over

the last year .

19.3%

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 from

700
600
500
400
300
200
100
0

Billion in 2010. Reserves increased by

Rs. 100.46 billion or 17.95 percent from
Rs. 559.56 billion in 2009 to Rs. 660.01

Billion Rs

Rs.478.84 billion in 2009 to Rs.528.56

billion in 2010. Surplus on revaluation

2009

2010
Paid Up Capital

of fixed assets also increased by Rs.

Reserves
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

account of sales, gross profit, net profit
before

tax and

cash

flow

Figure 8:Growth & Composition of operations

from
2009

operations. Increases of 14.4%, 13.9%,

4500

46.3% and 7.6% have been witnessed

4000

in sales, gross profit, net profit before

tax and cash flow from operations
respectively for 2010 over the previous

financial

listed

companies

were

Rs.4,127 billion in 2010 as against

Growth
50.0%
46.3%

45.0%
40.0%

3500

35.0%

3000

30.0%

2500

25.0%

2000

20.0%

1500

year. The gross sales of all non-

2010

14.4%

15.0%

13.9%

1000

7.6%

500

10.0%
5.0%
0.0%

0
Sales

Rs.3,608 billion in 2009, showing an

Gross Profit

Net Profit Before T ax

Cash Flows from

Operation

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

200

in the business has been Rs.89

100

billion in 2010 as against Rs.

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

Percentages

that profitability relative

23.87
18.95

15
10

because

companies earn more

better,

money

on

less

2009
13.68
6.54

11.62

8.15

2010

ROA
ROE

investment. Return on

ROCE

equity is 23.87 in 2010

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

3,844.6

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

2,616,520.5

397,072.7

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

309,496.5

70,883.4

23,194.1

123,594.4

20,515.7

3,708.7

19,265.7

2,106.9

Dividend cover ratio (%)

1.7

Net profit margin (%)

Return on equity (%)

Coke

Sugar

335,993.6

67,554.1

4,092.1

22,372.9

28,028.0

690,760.2

4,314.7

1,179.7

101,909.7

1,043.5

773.6

149.4

36,638.4

925.0

241.6

19.2

0.0

2.5

5.2

2.3

4.6

7.5

5.0

5.4

3.1

23.9

40.7

13.7

4.1

23.9

27.1

89.6

257,722.0

55,741.6

181,187.0

42,709.5

-6,572.2

15,384.8

25,784.1

8,072.2

5,085.7

1,677.9

6,433.9

0.0

6.2

2.0

1.4

9.0

4.5

13.6

15.9

22.8

15.4

4.5

2.4

7.2

43.5

28.4

45.0

38,097.8

2,024.2

385,794.6

Mineral

Cement

528,563.2

Indicators

Paid -up-Capital

Spinning

Chemical

Fuel & Energy

Overall

Other Textile

Key Performance

Made-up Textile

Economic Groups

9,571.7

11,275.7

892.9

62,609.5

13,595.4

60,636.8

9,351.1

25,134.4

889.4

10,617.8

1,997.7

3,828.5

9,561.3

60.6

298.9

4,691.1

2,857.9

524.7

1,425.0

1,180.4

254.3

0.0

97.0

378.8

4,513.2

12.5

-1.0

2.1

0.3

0.5

27.8

1.6

1.7

2.2

1.0

15.9

-5.7

10.8

4.2

4.1

20.5

5.7

6.0

7.5

2.6

37.4

30.8

-5.3

75.8

11.5

8.6

7.0

14.6

25.8

21.7

2.7

9.3

4.7

4.3

-1.4

35.9

4.3

0.4

3.6

1.5

9.5

6.1

2.2

91.9

19.6

23.7

22.1

75.6

71.7

10.4

75.4

20.0

66.8

48.2

161.0

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

867,439,430

1,040,091,047

1,211,065,825

1,448,725,243
851,080,892
68,807,089
16,358,538

1,671,976,688
1,016,570,378
75,870,066
23,520,669

1,863,049,694
1,160,345,245
86,225,345
50,720,580

842,482,436
188,164,230
206,467,704
159,158,369
111,760,046
176,932,087
681,939,587
215,125,600
466,813,987
226,229,356

1,031,847,650
184,141,804
240,567,907
200,602,772
192,515,974
214,019,193
888,035,989
273,013,633
615,022,356
283,197,903

1,196,256,010
169,690,216
271,532,643
249,058,585
239,471,220
266,503,346
1,041,342,786
294,263,244
747,079,542
352,081,328

28,054,249

31,265,288

45,095,447

198,175,107
801,752,923
356,095,716
352,467,559
3,628,157
445,657,207

251,932,615
900,704,805
375,854,763
372,335,475
3,519,288
524,850,042

306,985,881
1,013,897,721
404,678,003
394,509,555
10,168,448
609,219,718

1,388,602,765
0
2,090,354,493
1,329,643,724
96,644,794
58,955,617
3,424
0
1,493,811,874
172,892,067
362,026,984
365,627,314
250,034,020
343,231,489
1,422,133,488
420,103,842
1,002,029,646
422,795,522
86,708
0
49,685,847
0
373,022,967
1,037,485,629
429,007,301
419,555,437
9,451,864
608,367,344
0
(61,986)
110,984

2,126,247,747
335,536,334
2,355,025,509
1,458,033,927
110,920,995
89,797,542
163,563,521
79,316,423
1,455,518,741
166,163,534
348,194,970
551,532,754
79,141,254
310,486,229
1,400,046,143
430,904,827
969,141,316
986,966,489
431,996,540
114,175,182
50,796,268
51,455,340
338,543,157
1,194,753,859
478,837,280
468,331,062
10,506,219
559,558,139
116,752,598
433,698,496
156,358,440

2,296,798,616
308,027,259
2,556,850,054
1,596,529,929
117,858,057
101,538,727
203,501,334
87,201,366
1,717,465,990
177,682,018
380,344,071
729,126,910
93,638,800
336,674,190
1,670,138,529
467,677,401
1,202,461,128
946,381,953
377,926,991
107,474,854
44,763,938
61,483,477
354,732,693
1,397,744,126
528,563,207
514,344,540
14,218,667
660,013,228
131,463,398
515,868,884
209,167,691

2,027,405,921
1,894,499,696
132,906,225
1,669,457,122

2,570,950,510
2,406,191,233
164,759,277
2,166,348,160

2,837,922,698
2,632,698,105
205,224,593
2,431,127,043

357,948,799
141,665,992

404,602,350
162,470,261

406,795,655
185,378,145

3,608,115,605
3,240,654,067
367,461,538
3,075,281,286
1,581,556,526
1,492,028,475
532,834,319
255,522,098
97,040,940
158,481,158
162,227,179
149,689,937
111,894,566
211,565,928
77,629,998
118,297,512
7,707,785
309,734,234

4,127,410,930
3,688,311,203
439,099,726
3,520,254,618
1,868,548,578
1,649,981,773
607,156,312
257,205,044
106,664,722
150,540,322
195,486,474
138,228,614
101,067,148
309,496,497
97,335,306
123,594,444
19,265,677
333,313,700

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

224,859,254
62,665,791
70,028,056
3,398,810

256,700,453
73,133,159
102,525,688
5,763,814

229,298,361
60,628,299
97,589,834
2,995,809

3,356,261,459
3,104,620,397
251,641,062
2,859,768,536
660,538
54,383
496,492,923
270,162,043
6,924
270,155,119
30,381
95,936,541
1,894
202,877,547
91,995,180
106,194,151
4,764,973
14,745

1,027,982,279
28,054,249
92,165,407
243,179,849

1,183,902,708
31,265,288
81,041,606
304,278,921

1,365,979,049
45,095,447
71,080,228
339,358,691

1,460,281,151
49,772,555
4,688,216
469,876,397

2,181,720,348
482,792,809
15,638,418
913,697,635

2,344,126,079
422,690,929
88,566,747
890,368,330

0.67
1.44
7.85
1.19
1.24
82.34
1.13
14.37
32.04
24.30
2.32
9.82

0.65
1.92
7.80
1.24
1.16
84.26
1.30
13.58
30.16
23.21
1.79
10.69

0.63
2.37
8.78
1.18
1.15
85.67
1.37
10.24
23.95
17.99
1.73
10.45

0.55
2.86
10.89
1.16
1.05
85.21
1.78
7.67
19.78
14.36
1.04
9.27
6.04
0.00
2.65
24.84

0.57
4.15
15.29
1.01
1.04
85.23
2.00
6.55
18.96
11.62
1.13
10.36
2.89
5.86
0.13
2.85
25.43

0.60
3.35
17.67
1.03
1.03
85.29
1.87
8.15
23.88
13.68
1.72
10.85
4.06
7.50
0.13
4.11
27.09

141,665,992

162,470,261

185,378,145

29,179,243

49,293,805

67,127,434

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

H.Key Performance Indicators

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

11.09
0.00
3.83
18.95

9.98
0.00
4.15
20.36

8.08
0.00
4.30
25.82

Growth with Composition of Assets & Liabilites

25%

2500

Billion Rs

2000

20%

19.3%

18.0%

17.0%

1500

15%
10%

8.0%

5%

1000

0%
500

-4.1%

-5%
-10%

0
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

2010

Growth
50%
46.3%

Billion Rs

40%
30%

20%
14.4%

13.9%
10%
0%

Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
23.87

25

Percentage

2009

18.95

20

Net Profit Before Tax

7.5

8
7

2010

2009

5.86

2010

15

11.62

10

6.54

13.68

8.15

Percentage

6
5
4

2.00

3
2

4.11

2.85
1.87

1.04 1.03

Return on
Return on
Assets
Equity

0
Return on
Capital
Emloyed

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
1,042,562,105
382,178,810
660,383,295
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
1,214,360,073
421,024,551
793,335,522
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
195,255,389
84,183,885
111,071,504
122,521,260
127,617,133
97,102,652
106,936,566
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
202,823,567
93,493,071
109,330,496
144,016,326
107,574,067
87,536,495
162,939,582
56,779,191
86,733,178
15,596,082
208,607,455
1,799,976,890
372,013,058
19,427,214
793,037,609

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

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
(8,484,815)
794,423,789

0.54
2.03
5.99
1.09
1.17
84.32
1.39
11.36
27.85
19.85
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
4.35
11.92
7.59
0.88
8.01
2.10
4.43
0.13
1.64
24.92

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

0.51
3.86
14.39
0.93
0.98
85.18
1.70
5.70
15.80
9.41
1.22
8.83
2.86
5.84
0.11
2.52
26.52

Growth with Composition of Assets & Liabilites

2000

18.2%

16.5%
Billion Rs

1500

20%
15%

13.7%

10%

9.8%

5%

1000

0%

500
-5%

-5.2%

-10%

0
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

2009

5.84
6

11.92

2010

12

10

9.4

4.34

5.69

7.58

2010

4.43

5
Percentage

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

0
Return on
Capital
Emloyed

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

321,703,493

375,328,027

268,736,704

312,337,976

630,442,235
316,991,919

712,375,788
368,286,480

389,855,969
239,521,932

449,119,023
275,029,762

34,326,007
4,711,574

35,545,108
7,041,547

19,843,616
29,214,772

22,066,001
37,308,214

(Thousand Rupees)
2009
2010
466,862,782
36,778,418
521,493,025
334,353,869

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

324,411,176
97,826,811
27,285,152
89,430,433

409,905,926
94,292,829
40,009,513
111,914,902

273,007,365
29,105,156
36,166,387
88,972,763

356,318,034
27,780,376
64,209,240
133,608,124

26,924,299
52,475,060
9,886,276
33,369,159
407,575,202
18,187,895
46,878,117
232,431,828

30,133,662
79,735,118
237,273,551
19,309,492
217,964,059
51,492,396

68,942,812
94,745,870
339,622,893
45,217,202
294,405,691
80,948,330

39,461,628
79,301,431
257,445,907
45,079,697
212,366,210
89,633,439

40,068,646
90,651,648
362,951,048
58,486,159
304,464,889
117,312,265

18,849,823
91,227,539
357,484,038
48,726,017
308,758,021
267,263,980

29,904,216
81,907,538
455,778,456
46,652,850
409,125,606
263,747,562

14,420,270

13,246,970

13,711,424

12,430,143

37,072,126
357,348,722
183,215,276
183,214,276

67,701,360
364,662,730
185,605,354
185,604,200

75,922,015
194,664,723
86,495,427
86,495,427

104,882,122
188,392,697
87,783,344
87,783,344

50,897,258
8,798,312
19,650,572
24,693,837
163,224,001
249,689,967
90,463,675
90,456,175

33,170,397
9,251,220
17,507,474
32,003,678
171,814,793
280,401,627
94,617,959
94,610,459

1,000
174,133,446

1,154
179,057,376

0
108,169,296

0
100,609,353

7,500
114,939,563

7,500
159,139,281

8,147,442
106,792,121
44,286,729

8,203,053
150,936,228
26,644,387

862,879,759

1,088,191,603

885,995,096

1,095,189,095

1,193,180,359

1,338,664,022

850,363,373
12,516,386
687,506,672

1,067,046,742
21,144,861
900,529,165

885,995,096
0
752,482,906

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

1,193,180,359
0
1,032,542,742

1,338,664,022
0
1,144,739,048

175,373,087
70,222,951

187,662,438
77,996,669

133,512,190
52,118,926

177,735,948
83,927,702

189,341,134
843,201,608
160,637,617
60,266,709

195,824,477
948,914,571
193,924,974
54,381,477

12,857,055
47,409,654
39,705,918
22,072,804

13,171,652
41,209,826
51,470,147
30,654,547

14,791,914
104,629,362
32,802,829
47,703,300

13,530,653
146,556,915
40,556,115
36,861,267

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

70,222,951

77,996,669

52,118,926

83,927,702

5,506,246

10,405,868

11,619,044

13,680,701

116,481,165
41,002,546
39,450,830

131,824,793
47,511,386
55,361,805

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

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

58,320

1,775,774

742,991

823,003

1,659,721

3,669,595

74,197,897

124,706,245

408,841,118
14,420,270
36,027,789
33,729,762

445,611,060
13,246,970
28,951,602
58,464,172

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

0.92
0.64
10.36

0.81
0.96
10.28

0.61
1.31
10.04

0.56
1.25
12.20

0.75
1.85
19.48

0.83
2.29
24.48

1.34
1.37
79.68
0.81

1.39
1.21
82.75
1.15

1.64
1.06
84.93
1.78

1.64
0.98
83.77
2.55

1.36
1.14
86.54
2.50

1.34
1.15
85.51
2.57

20.68
42.18

20.52
42.96

15.19
40.79

16.68
52.72

13.56
47.77

15.64
55.29

34.00
1.91
31.62

35.34
1.52
27.20

29.28
1.27
24.50

34.23
1.02
17.06

27.62
2.88
20.73
11.83
10.95
0.17
11.20
29.64

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

H.Key Performance Indicators

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

13.50
0.00
2.99

12.11
0.00
3.31

9.98
0.00
7.03

9.22
0.00
7.00

25.44
1.51
25.45
8.07
8.77
0.12
7.94

14.16

14.32

22.51

21.46

27.60

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

11.2

8.77
7.94

30

25.44 27.62
13.56 15.64

10
0

Percentage

40

20

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

8
6

2
Return on
Return on
Assets
Equity

2.50

2.57

1.14 1.15

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

177,929,733

212,250,458

228,100,596

220,912,726

348,050,648

374,697,427

270,739,493

317,249,011

337,568,522

341,072,977

38,681,124
382,921,239

65,088,206
362,661,658

177,630,160
10,334,718

208,146,347
14,349,481

223,988,054
16,140,749

220,810,198
17,833,078

247,470,905
16,553,353

236,387,169
15,236,743

299,573

4,104,111

4,112,542

102,528

5,810,569
51,005,206

5,788,081
62,363,717

168,519,766

197,687,321

236,377,124

277,744,869

5,082,844
222,359,663

5,070,254
228,019,036

6,688,120

6,235,092

6,495,689

4,621,159

6,370,601

7,372,362

85,275,017
28,726,892

82,927,224
32,402,586

86,741,516
38,073,754

111,657,992
45,946,849

114,123,287
58,651,584

111,395,963
61,429,982

23,347,720
24,482,017

46,168,830
29,953,589

51,321,939
53,744,226

63,622,133
51,896,736

4,564,263
38,649,927

5,403,029
42,417,699

159,344,244
103,628,149

183,180,209
116,186,495

215,101,682
110,907,155

250,538,128
149,626,490

259,039,910
184,196,238

245,735,894
171,756,961

55,716,095
71,705,578

66,993,714
80,275,107

104,194,527
78,166,031

100,911,638
85,972,326

74,843,672
135,840,245

73,978,933
140,658,607

102,340,314

108,180,749

3,985,595

8,555,688

10,547,159

4,626,163

14,855,347
2,832

13,309,228
2,832

67,719,983

71,719,419

67,618,872

81,346,163

3,007,623
15,634,129

3,254,239
15,911,559

115,399,677
34,582,156

146,482,463
42,115,059

171,210,007
45,054,477

162,147,141
46,973,656

175,530,155
50,161,552

216,321,961
49,939,812

32,992,572
1,589,584
80,817,521

40,482,391
1,632,668
104,367,404

42,621,791
2,432,686
126,155,530

45,317,698
1,655,958
115,173,485

48,367,323
1,794,230
81,520,537
20,966,563
61,815,778

48,490,295
1,449,517
116,908,924
34,131,866
84,038,862

43,848,066

49,473,226

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

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

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

11,011,724

14,334,820

15,672,433

19,619,114

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

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

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

Percentage

4.91

4
8.58
4.89

Percentage

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

146,569,132

177,420,107

193,890,922

185,947,125

297,198,825

320,677,703

214,501,989

255,127,090

273,876,718

274,213,189

34,025,743
316,751,485

47,367,075
318,054,339

146,371,244
7,797,760

173,425,926
11,496,599

189,830,658
12,960,866

185,891,248
14,311,281

215,727,270
13,152,768

214,896,202
12,785,932

197,888

3,994,181

4,060,264

55,877

5,763,501
37,199,982

5,752,583
47,783,914

129,363,823

156,945,197

193,092,797

229,071,376

4,482,329
191,170,099

4,877,928
200,058,212

5,244,339

4,993,308

5,330,618

3,642,405

4,454,725

6,129,896

64,433,638
23,039,048

64,061,373
26,472,128

68,554,375
30,870,119

91,188,102
37,788,215

98,466,327
51,546,296

95,177,281
56,963,775

16,129,774
20,517,024

37,365,210
24,053,178

41,809,185
46,528,500

53,921,970
42,530,684

4,519,377
32,183,374

5,281,884
36,505,376

125,017,246
85,203,135

145,414,297
97,794,309

175,913,345
95,095,280

204,407,968
129,239,421

217,300,407
160,962,579

218,730,876
158,778,100

39,814,111
57,811,628

47,619,988
68,355,574

80,818,065
67,149,418

75,168,547
72,400,336

56,337,828
117,105,444

59,952,776
117,262,712

88,807,355

89,131,687

3,809,653

8,509,306

10,540,777

4,626,163

13,799,353
2,832

12,186,854
2,832

54,001,975

59,846,268

56,608,641

67,774,173

2,318,487
12,177,417

2,551,850
13,389,489

93,104,081
24,534,098

120,595,433
31,960,034

143,920,956
34,795,670

138,210,197
36,712,180

153,963,073
40,512,328

184,742,327
43,953,798

22,944,514
1,589,584
68,569,983

30,327,366
1,632,668
88,635,399

32,362,984
2,432,686
109,125,286

35,056,222
1,655,958
101,498,017

38,718,099
1,794,230
74,175,434
17,875,354
57,618,128

42,504,281
1,449,517
93,531,641
28,824,033
66,025,655

39,275,310

47,256,888

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

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

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

8,560,678

11,750,269

13,133,656

16,426,107

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

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

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%

5%

50

0
Non-Current
Assets

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

5.36

4.54

4
8.09

4.6

Percentage

Percentage

2010

2010

10

2009

12

2.17

2
0.88

1.82

0.91

1
2

-0.42

0
-2

Return on
Assets
-0.23

-1
Return on
Equity
-0.7

Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

390,031

388,273

386,561

385,645

189,040

354,838

510,148

510,118

510,118

509,770

0
209,629

0
357,933

390,031
1,403

388,273
1,757

386,561
3,312

385,645
913

177,746
4,020

349,251
930

0
11,000

0
5,500

225,265

214,700

204,887

216,025

294
235,860

87
23,634

270

303

208

223

50

164

109,865
61

99,695
0

83,964
5

83,964
50

83,964
42

2,706
38

5,000
110,069

5,000
109,702

0
120,710

16,490
115,298

0
151,804

2,780
17,946

167,923
0

180,169
0

510,756
0

247,788
0

209,655
0

169,765
0

167,923
343,892

180,169
343,892

510,756
27,442

247,788
304,665

209,655
355,331

169,765
66,230

343,892

343,892

27,442

103,481
40,000

78,912
40,000

40,000
0
63,481

62,427
0

64,883
0

304,665

1,283
291,622

1,347
0

53,250
40,000

49,217
40,000

(140,086)
40,000

142,478
40,000

40,000
0
38,912

40,000
0
13,250

40,000
0
9,217

40,000
0
(344,425)
7,252
(351,677)

40,000
0
(233,540)
1,752
(235,292)

164,339

336,018

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

0
0
0
0
0
0
0
13,275
0
13,275

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

5,250

6,332

4,268

3,315

(11,891)
248
0
0

(24,481)
296
0
0

(21,467)
0
0
0

(14,800)
0
0
32,500

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

5,224

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

403,280

377,054

380,763

368,221

352,325

352,325

470,304

461,690

478,752

479,600

0
445,902

0
445,902

403,280
10,174

377,054
13,177

380,763
13,967

368,221
13,389

322,228
12,691

322,228
12,691

0
0

0
0

122,610

134,641

140,511

103,719

30,097
104,176

30,097
104,176

7,077

3,928

1,591

3,252

3,956

3,956

75,455
27,058

95,939
16,146

85,175
18,874

52,575
22,567

56,873
20,384

56,873
20,384

0
13,020

0
18,628

0
34,871

0
25,325

0
22,962

0
22,962

225,790
89,045

197,365
108,943

138,093
84,339

195,057
73,290

179,489
78,462

179,489
78,462

136,745
162,239

88,422
157,093

53,754
274,962

121,767
203,095

101,028
242,819

101,028
242,819

199,204

199,204

43,402
0

43,402
0

162,239

157,093

274,962

203,095

213
0

213
0

137,861
55,688

157,237
55,688

108,219
55,687

73,788
55,687

34,187
55,688

34,187
55,688

55,688
0
82,173

55,688
0
101,549

55,687
0
52,532

55,687
0
18,101

55,688
0
(155,013)
17,887
(172,900)

55,688
0
(155,013)
17,887
(172,900)

133,512

133,512

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

120,620
120,620
0
132,840
105,101
27,739
(12,220)
8,814
44
8,770

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

15,138

37,093

16,573

9,501

4,489
2,405
0
0

(6,542)
4,407
595
0

(13,626)
3,887
0
0

(32,557)
1,875
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

302,945

287,788

273,540

259,924

259,924

259,924

457,090

456,452

456,451

456,452

0
456,452

0
456,452

302,945
11,815

287,788
15,133

273,540
14,248

259,924
13,616

259,924
13,616

259,924
13,616

0
0

0
0

86,937

100,017

50,149

18,760

0
18,760

0
18,760

2,692

2,163

1,051

372

372

372

63,013
2,115

68,992
2,386

13,010
5,577

11,600
1,626

11,600
1,626

11,600
1,626

0
19,117

0
26,476

0
30,511

0
5,162

0
5,162

0
5,162

199,453
37,584

618,921
111,210

383,082
5,556

399,583
4,181

399,583
4,181

399,583
4,181

161,869
179,257

507,711
81,046

377,526
285,123

395,402
229,814

395,402
229,814

395,402
229,814

0
0

0
0

179,257

81,046

285,123

229,814

0
229,814

0
229,814

11,172
93,000

(312,162)
93,000

(344,516)
93,000

(350,713)
93,000

(350,713)
93,000

(350,713)
93,000

93,000
0
(81,828)

93,000
0
(405,162)

93,000
0
(437,516)

93,000
0
(443,713)

93,000
0
(443,713)
0
0

93,000
0
(443,713)
0
0

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

459,624

473,944

452,717

433,323

417,137

417,137

713,110

743,817

740,207

740,208

2,192
740,208

2,192
740,208

459,624
15,644

473,944
19,784

452,717
20,454

433,323
20,454

412,722
18,408

412,722
18,408

0
0

0
0

252,403

111,313

88,528

64,890

2,223
45,701

2,223
45,701

33,524

292

195

49

45

45

180,967
12,777

74,220
6,839

51,140
7,025

17,643
16,487

3,933
16,487

3,933
16,487

0
25,135

0
29,962

0
30,168

0
30,711

0
25,236

0
25,236

506,832
249,073

411,923
184,747

436,515
77,137

449,383
41,657

299,343
191,536

299,343
191,536

257,759
93,654

227,176
85,589

359,378
53,596

407,726
23,612

107,807
176,659

107,807
176,659

93,654

85,589

53,596

111,541
77,258

87,745
77,258

77,258
0
34,283

174,771
0

174,771
0

23,612

1,888
0

1,888
0

51,134
77,258

25,218
77,258

(13,163)
77,258

(13,163)
77,258

77,258
0
10,487

77,258
0
(26,124)

77,258
0
(52,040)

77,258
0
(256,491)
0
(256,491)

77,258
0
(256,491)
0
(256,491)

166,070

166,070

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

0
0
0
34,554
0
34,554
(34,554)
2,000
0
2,000

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

11,719

16,543

8,127

5,929

1,023
1,500
0
0

(20,974)
1,553
0
0

(35,557)
1,053
0
0

(25,685)
231
0
0

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

11,725

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

962,194

997,582

1,188,111

2,017,040

1,954,829

1,670,722

1,371,960

1,505,613

1,726,247

2,651,459

0
2,773,973

0
2,237,913

962,194
47,630

997,582
99,573

1,188,111
107,754

2,017,040
121,313

1,949,987
103,502

1,665,880
101,271

0
260

0
260

630,244

664,797

668,211

852,983

4,582
1,005,863

4,582
1,161,102

570

8,415

4,972

1,037

1,781

1,080

414,864
96,305

432,459
111,900

426,120
101,996

582,795
161,740

688,559
233,831

614,809
199,998

0
118,505

0
112,023

260
134,863

260
107,151

0
81,692

0
345,215

726,784
571,673

860,351
667,428

1,033,368
506,134

1,357,809
897,039

1,362,550
1,103,087

1,234,835
943,802

155,111
464,948

192,923
431,699

527,234
453,191

460,770
676,608

259,463
856,360

291,033
757,070

636,443

547,812

105,000
0

105,000
0

464,948

431,699

453,191

676,608

0
114,917

0
104,258

400,706
125,289

370,329
125,289

369,763
144,082

835,606
144,082

741,782
144,082

839,919
144,082

125,289
0
275,417

125,289
0
245,040

144,082
0
225,681

144,082
0
691,524

144,082
0
69,839
32,746
37,093

144,082
0
151,823
32,746
119,077

527,861

544,015

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

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

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

39,270

51,191

48,418

123,147

60,211
7,443
0
0

28,769
11,651
0
0

2,708
0
0
0

(103,687)
13,183
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

418,301

401,926

403,423

398,956

380,741

497,617

820,002

433,302

460,326

482,163

0
490,256

0
505,694

418,301
19,551

401,926
623

403,423
27,843

398,956
27,585

380,297
25,685

497,173
24,206

0
0

0
0

197,155

229,016

181,050

212,764

445
197,867

445
145,642

5,214

8,118

7,598

6,024

7,250

51,718

118,678
67,627

188,171
21,154

103,398
14,758

182,471
265

163,248
3,334

44,284
26,552

0
5,636

0
11,573

0
55,296

0
24,004

0
24,035

0
23,089

254,464
180,819

345,572
175,927

259,474
168

454,929
162,000

198,358
151,000

93,015
0

73,645
0

169,645
0

259,306
0

292,929
67,455

47,358
72,909

93,015
114,041

0
0

0
0

67,455

3,299
69,610

5,141
108,900

360,992
75,600

285,370
75,600

324,999
75,600

89,336
75,600

307,342
75,600

436,203
75,600

75,600
0
285,392

75,600
0
209,770

75,600
0
249,399

75,600
0
13,736

75,600
0
138,710
15,923
122,787

75,600
0
172,516
15,923
156,593

93,032

188,087

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

761,897
595,787
166,110
705,901
523,894
182,007
55,995
18,113
5,898
12,215

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

29,260

28,720

41,103

17,848

71,345
3,462
0
0

34,091
5,527
0
0

15,414
6,805
0
0

(11,186)
2,240
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

657,667

886,359

882,090

864,345

844,489

832,017

756,746

978,257

998,769

1,002,928

0
1,018,314

0
1,002,789

638,969
10,717

871,880
13,130

882,090
34,636

864,345
26,885

829,167
25,656

817,113
23,953

18,698

14,479

0
0

0
0

336,542

316,463

360,557

370,275

15,322
255,322

14,904
312,171

1,498

1,157

10,145

1,541

574

1,916

155,407
111,270

135,344
127,781

135,510
154,924

184,950
0

110,228
103,326

134,318
111,477

0
68,367

0
52,181

0
59,978

0
183,784

0
41,195

0
64,460

476,140
263,929

439,158
241,948

519,037
181,843

488,689
218,026

554,915
354,932

425,726
239,575

212,211
92,799

197,210
210,465

337,194
294,953

270,663
326,801

199,983
321,365

186,150
468,695

314,244

461,384

0
0

0
0

92,799

210,465

294,953

326,801

7,121
0

7,312
0

425,270
191,494

553,199
191,494

428,657
191,494

419,130
222,133

223,531
222,133

249,767
222,133

191,494
0
233,776

191,494
0
361,705

191,494
0
237,163

222,133
0
196,997

222,133
0
(567,383)
0
(567,383)

222,133
0
(535,608)
0
(535,608)

568,781

563,242

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

505,458
495,197
10,261
574,641
345,926
228,715
(69,183)
29,768
7,656
22,112

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

17,667

20,115

24,151

28,952

5,941
2,085
0
0

11,987
2,947
0
0

(26,587)
2,793
0
0

(37,735)
2,429
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

99,336

102,771

98,825

208,983

268,345

251,362

278,001

292,307

297,845

407,774

0
500,018

0
506,151

99,336
8,619

102,771
12,353

98,825
11,390

208,983
11,672

264,021
26,794

247,040
28,325

0
2,256

0
2,255

123,479

209,741

177,324

343,778

2,068
302,191

2,068
222,619

2,882

5,322

7,215

3,059

3,875

472

41,632
49,281

126,671
52,944

95,758
52,367

255,594
49,503

184,210
93,900

91,979
107,431

1,739
27,945

1,739
23,065

2,257
19,727

2,256
33,366

1
20,205

1
22,736

85,550
45,023

187,708
131,497

152,220
86,594

384,453
329,406

340,284
289,014

198,414
127,033

40,527
0

56,211
0

65,626
0

55,047
84,430

51,270
107,258

71,381
113,245

89,585

67,648

0
0

0
0

84,430

0
17,673

0
45,597

137,265
8,000

124,804
8,000

123,929
8,000

83,878
8,000

122,994
8,000

162,322
8,000

8,000
0
129,265

8,000
0
116,804

8,000
0
115,929

8,000
0
75,878

8,000
0
66,646
2,669
63,977

8,000
0
111,023
2,668
108,355

48,348

43,300

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

1,067,020
1,067,020
0
1,013,541
787,838
225,703
53,479
24,415
2,280
22,135

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

14,187

21,103

18,594

22,814

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

139,570

121,638

114,099

103,940

103,940

103,940

276,970

271,558

276,197

277,535

0
277,535

0
277,535

135,602
10,148

121,638
13,667

114,099
12,233

103,940
11,487

103,940
11,487

103,940
11,487

3,968

22,766

25,770

31,031

26,524

26,524

26,524

743

149

308

422

422

422

16,372
3,567

16,833
753

18,499
3,480

14,392
1,859

14,392
1,859

14,392
1,859

0
2,084

0
8,035

0
8,744

0
9,851

0
9,851

0
9,851

413,320
25,125

129,176
0

149,413
0

133,456
0

133,456
0

133,456
0

388,195
75,375

129,176
100,500

149,413
100,500

133,456
113,170

133,456
113,170

133,456
113,170

75,375

100,500

100,500

113,170

113,170

113,170

(326,359)
51,750

(82,268)
51,750

(104,783)
51,750

(116,162)
51,750

(116,162)
51,750

(116,162)
51,750

51,750
0
(378,109)

51,750
0
(134,018)

51,750
0
(156,533)

51,750
0
(167,912)

51,750
0
(167,912)

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

2005

2006

2007

2008

(Thousand Rupees)
2009
2010
5,657,979

5,872,068

634,332
4,696,802

844,947
5,053,154

4,985,475
260,419

4,997,349
345,680

10,703
0

8,324
0

27,469
12,395,153

21,448
13,248,086

144,263

145,465

6,456,145
3,993,788

6,541,818
4,583,263

0
1,800,957

0
1,977,540

9,888,898
8,528,844

9,802,055
8,428,585

1,360,054
923,378

1,373,471
553,730

893,641

509,601

0
0

0
0

29,737
0

44,130
0

7,240,855
902,451

8,764,368
2,414,901

902,451
0
3,867,410
98,039
3,769,371

2,414,901
0
4,008,559
281,039
3,727,520

2,470,995

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

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

673,854
1,577,759
1,449,667
1,055,163
133,759
0
0
155,377

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

27,660

27,660

22,443

20,218

18,700

16,897

36,865

36,865

36,865

36,865

0
36,865

0
36,865

27,660
2,226

27,660
2,226

22,443
2,471

20,218
2,225

18,216
2,003

16,413
1,803

0
0

0
0

30,240

30,240

16,428

16,430

485
16,387

485
16,405

223

223

238

240

234

253

12,269
8,219

12,269
8,219

0
6,661

0
6,661

0
7,061

0
7,061

0
9,529

0
9,529

0
9,529

0
9,529

0
9,092

0
9,091

58,423
3,955

58,423
3,955

55,881
0

42,594
0

37,554
0

37,554
0

54,468
2,910

54,468
2,910

55,881
5,488

42,594
18,898

37,554
19,383

37,554
19,833

2,910

2,910

5,488

(3,433)
8,712

(3,433)
8,712

8,712
0
(12,145)

19,383
0

19,833
0

18,898

0
0

0
0

(22,498)
8,712

(24,844)
8,712

(21,850)
8,712

(24,084)
8,712

8,712
0
(12,145)

8,712
0
(31,210)

8,712
0
(33,556)

8,712
0
(30,562)
0
(30,562)

8,712
0
(32,796)
0
(32,796)

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

0
0
0
0
0
0
0
2,493
0
2,493

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

639

639

330

121

(1,016)
138
0
0

(1,016)
138
0
0

(2,802)
0
0
0

(121)
0
0
0

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

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

H.Key Performance Indicators

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,803,839

1,752,866

1,643,147

1,561,264

1,443,632

1,443,632

1,833,691

1,886,933

1,765,021

1,918,256

0
1,922,858

0
1,922,858

1,803,839
42,974

1,752,866
128,772

1,643,147
134,412

1,561,264
126,351

1,437,801
129,194

1,437,801
129,194

0
0

0
0

873,367

1,037,967

1,207,679

1,504,190

5,831
1,659,504

5,831
1,659,504

22,306

90,427

8,152

9,873

12,133

12,133

502,597
167,628

532,812
203,072

676,485
250,035

1,201,697
121,009

1,430,647
52,273

1,430,647
52,273

879
179,957

0
211,656

0
273,007

5,724
165,887

0
164,451

0
164,451

867,294
747,868

1,339,764
860,001

1,511,982
1,035,280

1,990,411
1,391,277

1,952,051
1,438,238

1,952,051
1,438,238

119,426
934,379

479,763
786,528

476,702
680,002

599,134
363,303

513,813
497,916

513,813
497,916

414,041

414,041

1,086
0

1,086
0

934,379

786,528

680,002

363,303

7,194
75,596

7,194
75,596

875,533
82,847

664,541
82,847

658,842
82,847

711,740
82,847

653,169
82,847

653,169
82,847

82,847
0
792,686

82,847
0
581,694

82,847
0
575,995

82,847
0
628,893

82,847
0
193,674
0
193,674

82,847
0
193,674
0
193,674

376,648

376,648

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

821,057
735,065
85,992
758,734
594,142
164,592
62,323
60,141
8,618
51,523

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

67,266

88,470

91,175

58,098

28,053
11,100
0
0

28,946
18,311
0
0

1,666
23,827
0
0

(43,273)
8,674
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,071,329

2,708,605

3,115,039

3,260,768

3,431,575

3,425,534

2,643,642

3,477,015

3,582,567

4,328,434

84,401
4,608,390

26,960
4,852,945

2,071,329
82,065

2,708,605
199,963

3,115,039
185,353

3,260,768
171,955

3,341,198
199,900

3,393,330
240,434

0
0

0
0

627,637

879,163

1,091,569

1,322,021

5,976
1,220,207

5,244
1,705,817

22,919

275,909

9,859

67,280

7,481

34,965

295,490
205,306

355,065
200,415

567,663
424,061

796,552
368,877

654,557
416,740

901,334
579,728

0
103,922

0
47,774

0
89,986

0
89,312

12,200
129,229

14,623
175,167

704,853
491,858

813,820
686,669

1,202,388
935,135

1,267,566
1,046,483

1,479,389
1,198,564

1,910,518
1,639,303

212,995
625,000

127,151
1,044,444

267,253
880,968

221,083
842,387

280,825
491,136

271,215
373,040

471,430

348,293

0
0

0
0

625,000

1,044,444

880,968

842,387

0
19,706

0
24,747

1,369,113
140,000

1,729,504
140,000

2,123,252
700,000

2,472,836
840,000

2,681,257
840,000

2,847,793
840,000

140,000
0
1,229,113

140,000
0
1,589,504

700,000
0
1,423,252

840,000
0
1,632,836

840,000
0
1,841,257
0
1,841,257

840,000
0
2,007,793
0
2,007,793

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

3,125,384
123,760
3,001,624
2,427,400
1,535,337
892,063
697,984
176,606
94,933
81,673

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

169,227

136,146

145,144

145,620

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

278,646

307,600

347,095

342,052

332,143

421,332

347,322

388,828

353,574

362,734

0
366,600

19,853
338,850

278,646
9,654

307,600
12,552

347,095
14,455

342,052
15,020

331,210
14,708

396,495
35,859

0
0

0
0

238,337

264,274

252,610

255,003

933
214,169

4,984
198,572

4,041

29,351

21,432

2,735

3,462

2,730

127,188
48,855

138,527
55,804

138,570
56,861

156,567
72,627

141,035
42,006

85,946
63,547

0
58,253

0
40,592

0
35,747

0
23,074

0
27,666

0
46,349

341,302
168,881

410,978
231,687

476,716
213,607

436,419
210,180

237,559
207,296

232,554
175,423

172,421
79,332

179,291
56,622

263,109
22,078

226,239
5,645

30,263
143,439

57,131
115,710

79,332

56,622

22,078

96,349
69,970

104,274
69,970

69,970
0
26,379

137,000
0

107,000
0

5,645

6,439
0

8,710
0

100,911
69,970

154,991
69,970

165,314
69,970

271,641
69,970

69,970
0
34,304

69,970
0
30,941

69,970
0
85,021

69,970
0
38,207
0
38,207

69,970
0
62,222
0
62,222

57,137

139,449

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

680,361
33,384
646,977
585,049
441,367
143,682
95,311
50,001
34,046
15,955

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

57,213

65,991

44,604

38,037

22,014
7,243
0
0

21,731
10,349
0
0

14,343
7,380
0
0

9,412
4,645
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

450,851

436,848

422,996

297,483

397,599

386,331

576,819

585,433

593,607

594,728

7,299
594,997

0
610,699

450,851
17,476

436,848
22,617

422,996
22,026

297,483
21,300

382,839
20,247

378,870
19,671

0
0

0
0

72,405

89,615

84,347

235,566

7,461
82,109

7,461
122,441

16,444

2,571

9,816

141,776

46,711

54,557

33,646
614

60,947
0

46,530
33

90,790
20

19,567
0

37,412
2,636

0
21,701

0
26,097

0
27,968

0
2,980

0
15,831

0
27,836

212,974
0

330,065
2,544

222,128
0

333,669
2,544

229,507
0

236,019
0

212,974
415,047

327,521
415,047

222,128
504,737

331,125
415,047

229,507
495,720

236,019
491,443

415,047

415,047

0
0

0
0

415,047

415,047

504,737

415,047

3,491
77,182

3,073
73,323

(104,765)
151,770

(218,649)
151,770

(219,522)
151,770

(215,667)
151,770

(245,519)
151,770

(218,690)
151,770

151,770
0
(256,535)

151,770
0
(370,419)

151,770
0
(371,292)

151,770
0
(367,437)

151,770
0
(546,367)
0
(546,367)

151,770
0
(512,371)
0
(512,371)

149,078

141,911

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

650,364
650,364
0
677,728
512,269
165,459
(27,364)
7,945
0
7,945

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

5,806

9,960

9,809

7,513

(39,436)
1,427
0
0

(17,743)
2,577
0
0

(2,692)
2,682
0
0

2,426
3,150
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

567,629

1,705,425

1,783,197

1,773,376

2,400,643

2,320,542

1,094,146

1,724,742

1,925,241

1,967,848

0
2,388,516

0
2,408,121

567,629
42,343

1,705,425
66,785

1,783,197
133,442

1,773,376
69,595

2,361,725
68,064

2,281,225
100,307

0
32,823

0
33,519

469,099

574,294

566,748

727,565

6,095
554,886

5,798
539,875

26,466

52,321

6,794

21,479

7,425

10,981

271,327
95,668

218,664
91,727

262,860
94,082

355,568
163,667

284,888
84,176

204,567
87,418

3,500
72,138

3,500
208,082

21,401
181,611

16,250
170,601

0
178,397

0
236,909

531,762
374,033

679,727
324,039

685,348
319,615

946,104
443,246

742,045
552,360

729,368
519,284

157,729
142,945

355,688
199,447

365,733
492,187

502,858
452,188

189,685
821,255

210,084
736,499

425,665

326,569

73,752
0

90,403
0

142,945

199,447

492,187

452,188

1,889
319,949

1,568
317,959

362,021
14,000

1,400,545
14,000

1,172,410
14,000

1,102,649
14,000

1,392,229
14,000

1,394,550
14,000

14,000
0
348,021

14,000
0
1,386,545

14,000
0
1,158,410

14,000
0
1,088,649

14,000
0
190,682
7,077
183,605

14,000
0
241,889
7,077
234,812

1,187,547

1,138,661

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

1,865,360
1,642,051
223,309
1,864,632
1,308,212
556,420
728
80,834
10,615
70,219

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

22,283

38,463

34,495

40,271

38,674
7,535
0
0

13,693
9,444
0
0

(60,271)
10,375
0
0

(65,726)
10,500
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

480,331

470,201

458,093

440,493

522,522

515,469

580,176

593,515

605,091

610,304

0
713,397

0
722,523

480,331
17,286

470,201
24,365

458,093
24,361

440,493
23,829

519,874
23,844

504,601
24,682

0
0

0
0

233,614

218,351

238,856

210,072

2,649
172,625

10,869
152,707

2,831

1,801

4,694

4,495

1,955

5,187

108,034
11,610

126,544
18,207

136,013
18,059

139,811
6,545

136,696
6,553

97,491
28,331

0
111,139

0
71,799

0
80,090

0
59,221

0
27,421

0
21,698

365,788
178,442

416,729
151,988

446,699
142,864

505,855
95,615

197,858
104,820

123,783
81,200

187,346
115,998

264,741
84,715

303,835
59,665

410,240
57,859

93,038
363,165

42,583
337,409

115,998

84,715

59,665

232,159
132,750

187,108
132,750

132,750
0
99,409

43,500

30,000

181,030
0

178,530
0

57,859

11,082
127,554

12,650
116,230

190,585
132,750

86,851
132,750

134,124
132,750

206,984
132,750

132,750
0
54,358

132,750
0
57,835

132,750
0
(45,899)

132,750
0
(220,405)
0
(220,405)

132,750
0
(139,110)
0
(139,110)

221,779

213,344

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

465,245
465,245
0
443,090
288,909
154,181
22,155
20,595
877
19,718

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

10,248

19,498

18,628

20,658

400
1,467
0
0

5,875
2,488
0
0

6,160
2,682
0
0

10,491
2,590
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,668,395

23,784,946

24,244,939

8,687,158

42,857,047

42,857,047

6,913,340

26,418,548

27,786,186

11,275,747

7,380,422
39,901,859

7,380,422
39,901,859

5,594,458
264,284

20,013,878
535,228

20,482,735
729,590

8,653,622
538,506

29,696,709
18,408

29,696,709
18,408

73,937

3,771,068

3,762,204

33,536

5,645,096
37

5,645,096
37

4,915,508

7,062,660

9,451,173

18,684,515

134,783
15,638,041

134,783
15,638,041

46,283

1,132,967

630,082

82,074

437,814

437,814

2,123,665
1,034,669

2,903,999
1,520,389

2,532,100
2,366,279

4,034,103
0

5,985,036
4,586,931

5,985,036
4,586,931

760,796
950,095

49
1,505,256

882,995
3,039,717

11,540,498
3,027,840

0
4,628,260

0
4,628,260

4,491,017
3,532,298

9,935,874
7,877,741

10,686,285
5,429,188

10,353,720
7,302,259

24,459,435
16,402,024

24,459,435
16,402,024

958,719
2,718,407

2,058,133
11,249,254

5,257,097
13,441,452

3,051,461
6,674,514

8,057,411
18,224,297

8,057,411
18,224,297

15,684,724

15,684,724

2,393,670

7,712,953

10,404,259

3,962,461

392,185
0

392,185
0

324,737

3,536,301

3,037,193

2,712,053

0
2,147,388

0
2,147,388

3,374,479
1,737,308

9,662,478
3,788,839

9,568,375
3,788,823

10,343,439
3,827,119

15,811,356
4,879,344

15,811,356
4,879,344

868,654
868,654
1,637,171

3,127,101
661,738
5,873,639

3,127,135
661,688
5,779,552

3,827,119
0
6,516,320

4,548,719
330,625
6,962,860
3,152,134
3,810,726

4,548,719
330,625
6,962,860
3,152,134
3,810,726

3,969,152

3,969,152

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

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

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

363,755

563,152

841,802

1,089,025

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

646,301

643,368

825,406

794,266

1,014,836

1,027,619

818,852

869,704

994,782

999,491

9,344
1,218,926

223
1,257,551

646,301
21,356

643,368
57,267

825,406
32,220

794,266
35,899

1,000,084
34,429

1,005,891
33,751

0
2,182

0
19,144

291,512

256,388

304,906

385,770

3,226
349,881

2,361
349,792

687

436

555

5,473

536

1,035

210,766
0

215,875
4,103

264,408
0

332,374
557

321,233
0

322,492
0

18,135
61,924

18,751
17,223

19,830
20,113

22,292
25,074

0
28,112

0
26,265

384,491
279,766

447,507
304,326

723,806
288,645

524,623
417,328

526,995
397,829

404,356
314,078

104,725
251,586

143,181
249,508

435,161
86,485

107,295
341,434

129,166
332,019

90,278
341,391

303,314

266,280

0
0

0
0

251,586

249,508

86,485

341,434

20,271
8,434

21,202
53,909

301,736
20,000

202,741
20,000

320,021
20,000

313,979
28,960

505,703
28,960

631,664
28,960

20,000
0
281,736

20,000
0
182,741

20,000
0
300,021

28,960
0
285,019

28,960
0
27,268
19,440
7,828

28,960
0
158,136
19,440
138,696

449,475

444,568

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

746,961
746,961
0
695,754
466,776
228,978
51,207
27,675
2,541
25,134

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

18,239

25,513

27,818

25,687

(16,440)
1,784
0
0

(52,254)
3,054
0
0

(14,309)
3,734
0
0

(44,157)
3,699
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,308,145

2,151,441

2,004,468

1,847,513

1,767,663

1,660,535

1,866,849

2,869,077

2,913,338

2,946,161

2,578
3,002,510

66,895
3,002,444

1,308,145
52,098

2,151,441
162,952

2,004,468
203,166

1,847,513
187,325

1,724,335
176,981

1,573,155
164,211

0
375

0
63

1,082,757

919,050

1,405,761

1,555,617

40,374
1,366,387

20,422
1,517,201

12,223

23,859

55,617

18,529

22,666

36,211

809,544
154,974

594,036
180,967

838,621
373,616

961,826
417,069

799,754
443,989

951,780
387,230

318
105,698

400
119,788

425
137,482

375
157,818

0
99,978

0
141,980

914,604
713,361

1,166,077
724,207

1,762,835
922,988

1,616,483
1,047,505

1,339,149
1,104,299

1,418,425
1,151,616

201,243
775,114

441,870
1,167,244

839,847
793,958

568,978
797,086

234,850
810,184

266,809
358,759

517,333

89,184

89,286
0

100,000
0

775,114

1,167,244

793,958

797,086

45,777
157,789

52,780
116,794

701,184
30,000

737,170
30,000

853,436
30,000

989,561
30,000

984,716
30,000

1,400,553
30,000

30,000
0
671,184

30,000
0
707,170

30,000
0
823,436

30,000
0
959,561

30,000
0
954,716
900,000
54,716

30,000
0
1,370,553
1,300,000
70,553

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

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

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

56,596

80,817

91,400

98,467

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

527,647

554,381

546,134

727,389

725,200

744,019

544,603

594,282

587,511

758,989

0
785,441

0
827,011

527,647
16,934

554,381
23,098

546,134
26,221

727,389
29,358

721,687
33,721

740,645
33,341

0
0

0
0

141,873

184,738

230,316

290,821

3,513
234,693

3,374
263,264

8,753

3,876

28,316

3,465

1,923

17,179

68,892
7,636

111,997
10,023

114,720
5,341

168,200
34,614

140,027
35,566

140,135
38,556

0
56,592

0
58,842

0
81,939

0
84,542

0
57,177

0
67,394

334,093
184,578

470,587
235,943

384,518
85,650

468,390
191,906

360,427
250,653

317,392
241,717

149,515
112,957

234,644
63,486

298,868
288,392

276,484
354,736

109,774
524,334

75,675
590,155

450,782

525,717

38,500
0

38,500
0

112,957

63,486

288,392

354,736

7,652
27,400

10,140
15,799

222,470
141,000

205,046
141,000

103,540
141,000

195,084
141,000

75,132
141,000

99,735
141,000

141,000
0
81,470

141,000
0
64,046

141,000
0
(37,460)

141,000
0
54,084

141,000
0
(229,930)
0
(229,930)

141,000
0
(199,729)
0
(199,729)

164,062

158,464

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

945,592
887,181
58,411
934,752
712,320
222,432
10,840
37,179
13,299
23,880

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

16,646

23,539

27,819

43,592

9,643
2,262
0
0

16,425
4,096
0
0

(73,965)
4,312
0
0

(60,869)
36,511
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,079,065

1,658,154

1,640,013

1,624,083

1,576,840

1,636,161

1,512,231

2,234,273

2,388,468

2,535,503

0
2,648,347

217,380
2,599,938

1,079,065
59,834

1,658,154
146,417

1,640,013
173,801

1,624,083
173,375

1,565,527
168,880

1,405,916
160,269

0
0

0
0

686,393

782,472

924,834

1,171,036

11,314
880,145

12,865
773,353

49,175

14,071

40,833

33,895

12,809

30,781

300,784
241,244

489,630
139,753

532,383
244,751

846,297
178,208

670,208
74,092

525,224
87,597

0
95,190

0
139,018

0
106,867

0
112,636

0
123,036

0
129,751

660,439
505,051

945,704
784,198

1,327,328
718,054

1,365,871
921,037

962,322
772,167

514,871
311,172

155,388
613,297

161,506
871,921

609,274
533,903

444,834
587,718

190,155
667,083

203,699
648,362

495,842

504,014

89,286
0

86,708
0

613,297

871,921

533,903

587,718

32,621
49,335

39,419
18,221

491,722
64,320

623,001
64,320

703,616
64,320

841,530
64,320

827,581
64,320

1,246,280
64,320

64,320
0
427,402

64,320
0
558,681

64,320
0
639,296

64,320
0
777,210

64,320
0
763,261
750,000
13,261

64,320
0
1,181,960
1,100,000
81,960

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

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

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

50,345

95,235

91,160

100,937

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

200,892

192,075

178,059

141,753

394,870

387,080

485,133

482,524

487,476

438,493

0
435,564

0
435,564

200,892
16,033

192,075
21,169

178,059
19,297

141,753
8,480

132,789
8,394

124,999
7,790

0
0

0
0

369,733

365,507

330,157

279,552

262,082
15,377

262,082
15,136

6,429

3,532

2,627

765

82

27

75,869
3,473

81,236
3,411

44,936
791

0
44

0
44

0
44

0
283,962

0
277,328

0
281,803

0
278,743

0
15,251

0
15,065

348,544
112,418

373,806
153,012

428,371
76,193

389,826
48,834

64,453
41,658

22,011
6,385

236,126
71,975

220,794
53,409

352,178
42,673

340,992
37,036

22,795
381,259

15,626
430,386

71,975

53,409

42,673

150,106
98,010

130,367
98,010

98,010
0
52,096

3,232

359,929
0

411,942
0

37,036

0
18,098

0
18,444

37,172
98,010

(5,557)
98,010

(35,466)
98,010

(50,181)
98,010

98,010
0
32,357

98,010
0
(60,838)

98,010
0
(103,567)

98,010
0
(165,803)
0
(165,803)

98,010
0
(178,681)
0
(178,681)

32,327

30,490

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

0
0
0
0
0
0
0
20,920
0
20,920

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

11,391

17,410

18,839

11,734

(7,901)
1,722
0
0

(35,681)
3,203
0
0

(61,193)
2,422
0
0

(32,267)
835
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

561,526

715,739

752,625

785,734

786,928

796,322

1,005,010

1,189,344

1,265,193

1,337,814

0
1,337,814

0
1,379,939

561,526
25,340

715,739
37,203

752,625
46,531

785,734
47,483

774,773
48,597

787,788
41,287

0
0

0
0

255,548

261,654

333,104

372,529

12,156
345,835

8,534
352,747

2,083

35,846

39,686

34,387

32,437

32,310

155,566
22,747

120,820
21,190

150,772
19,535

206,266
43,205

210,369
44,946

169,279
55,334

0
75,152

0
83,798

0
123,111

0
88,671

0
58,083

0
95,824

783,400
182,983

373,341
155,916

819,891
205,213

794,233
225,526

458,458
275,276

412,551
201,722

600,417
30,236

217,425
402,569

614,678
52,176

568,707
149,431

183,182
505,417

210,828
509,211

30,236

402,569

52,176

3,438
113,256

201,483
400,000

113,256
0
(109,818)

51,338

42,000

371,256
0

371,256
0

149,431

8,992
73,831

9,077
86,878

213,662
400,000

214,599
400,000

168,888
400,000

227,307
400,000

400,000
0
(198,517)

400,000
0
(186,338)

400,000
0
(185,401)

400,000
0
(305,413)
0
(305,413)

400,000
0
(240,483)
0
(240,483)

74,300

67,790

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

989,845
856,916
132,929
950,275
649,737
300,538
39,571
35,529
8,663
26,867

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

21,677

26,682

30,947

62,948

6,212
2,842
0
0

(20,975)
3,527
0
0

5,790
48,264
0
0

(22,905)
4,378
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

30,855

30,817

7,455,967

7,613,039

7,414,967

11,875,197

41,623

41,645

7,429,197

8,144,807

4,965
7,566,844

0
12,336,481

30,855
47

30,817
60

7,455,967
266,825

7,613,039
272,521

7,389,014
283,376

11,855,461
282,209

0
0

0
0

3,027

3,096

7,526,891

8,674,064

20,988
9,526,290

19,736
7,511,121

253

135

65,247

59,858

63,352

17,420

0
0

0
0

3,997,183
0

4,442,600
2,429,041

4,475,235
3,125,515

2,491,389
3,302,962

0
2,774

2,794
167

0
3,464,461

0
1,742,565

0
1,862,188

0
1,699,350

40,944
0

40,138
0

8,710,025
5,473,669

10,240,311
8,004,161

10,373,126
7,812,981

11,135,300
8,394,643

40,944
0

40,138
0

3,236,356
2,352,821

2,236,150
2,296,571

2,560,145
2,914,573

2,740,657
2,484,936

2,420,480

2,025,846

296,653
0

296,653
0

2,352,821

2,296,571

197,440
0

162,437
0

(7,062)
7,000

(6,225)
7,000

3,920,012
1,950,000

3,750,221
1,950,000

3,653,558
1,950,000

5,766,082
1,950,000

7,000
0
(14,062)

7,000
0
(13,225)

1,150,000
800,000
1,970,012

1,150,000
800,000
1,800,221

1,150,000
800,000
543,877
526,410
17,467

1,150,000
800,000
(1,393,122)
526,410
(1,919,532)

1,159,681

5,209,204

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

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

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

4,852

4,884

550,884

578,327

2,266
800
0
0

862
312
0
0

160,399
85,446
74,000
0

(15,294)
82,391
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,245,589

4,953,194

5,824,218

7,526,926

9,427,936

9,145,149

3,826,913

5,702,584

6,493,940

7,405,681

589,111
9,312,371

692,834
9,814,082

3,245,589
141,761

4,953,194
64,736

5,824,218
203,706

7,526,926
242,460

7,847,784
309,788

8,001,429
348,068

0
972,465

0
432,310

2,075,396

2,837,233

3,304,725

5,124,297

18,576
4,679,809

18,576
3,579,651

65,353

4,420

4,414

32,067

26,566

18,705

1,020,762
192,852

1,298,778
166,086

1,392,451
305,087

1,960,293
331,930

3,295,925
543,330

2,683,293
363,407

149,819
646,610

814,662
553,287

4,526
1,598,247

787,243
2,012,764

528
813,460

452
513,794

2,058,833
1,007,942

2,798,633
2,158,288

3,269,833
1,592,204

5,106,304
2,264,789

6,198,167
3,904,339

4,335,167
3,140,171

1,050,891
1,934,885

640,345
2,248,641

1,677,629
2,710,048

2,841,515
4,638,568

2,293,828
5,395,099

1,194,996
5,611,961

5,228,992

5,345,379

100,000
0

100,000
0

1,934,885

2,248,641

2,710,048

4,638,568

39,580
26,527

32,219
134,363

1,327,267
250,000

2,743,153
2,441,763

3,149,062
2,441,763

2,906,351
2,441,763

2,514,479
2,441,763

2,777,672
2,441,763

250,000
0
1,077,267

2,441,763
0
301,390

2,441,763
0
707,299

2,441,763
0
464,588

2,441,763
0
72,716
0
72,716

2,441,763
0
335,909
0
335,909

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

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

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

105,470

67,055

207,464

319,450

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

318,319

14,410

292,458

294,725

875,695

850,141

884
856,482

9,875
873,580

0
0

318,319
32,760

12,479
31,263

282,340
29,456

274,158
28,151

1,931

1,545
2,298

1,159
2,483

456,125

697,413

5,391
342,589

7,051
446,103

2,064

1,545

29,898

48,929

0
0

109,757
116,676

153,456
91,110

101,269
118,979

158,475
150,484

0
0

2,705
224,923

2,673
448,629

41,351
51,092

35,385
52,829

0
0

393,963
162,411

414,642
195,067

386,291
207,096

372,167
170,807

0
0

231,552
108,175

219,575
67,601

179,195
68,532

201,360
81,982

30,247

16,527

8,675
0

13,675
0

108,175

67,601

0
29,610

0
51,780

0
0

272,306
118,265

229,580
124,179

180,225
124,179

286,678
124,179

0
0
0

118,265
0
154,041

124,179
0
105,401

124,179
0
56,047
0
56,047

124,179
0
162,499
0
162,499

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

1,427,453
1,426,250
1,203
1,318,433
976,520
341,913
109,020
50,676
5,888
44,788

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

48,978

42,273

0
0
0
0

39,286
5,948
0
5,913

25,224
6,234
62,090
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

532,163

599,756

980,765

963,259

1,012,050

1,006,042

771,750

861,245

1,245,930

0
1,245,304

0
1,235,665

532,163
11,072

599,756
16,965

980,765
0

963,259
28,644

936,515
26,992

910,723
25,356

0
1,139

0
1,955

138,558

369,576

290,409

208,753

74,397
122,588

93,364
79,355

18,612

3,609

1,309

2,416

590

6,287

65,509
3,902

176,180
3,294

155,973
17,456

96,291
4,585

90,964
3,452

34,937
7,237

376
50,159

376
186,117

376
115,295

1,650
103,811

643
26,939

0
30,894

163,536
84,306

512,989
196,540

537,930
150,872

389,426
146,741

393,213
171,582

374,293
195,287

79,230
107,151

316,449
175,764

387,058
150,791

242,685
224,268

221,631
247,308

179,006
199,224

138,798

89,624

0
0

0
0

107,151

175,764

150,791

224,268

13,636
94,875

12,354
97,246

400,034
30,524

280,579
30,524

582,453
30,524

558,318
30,524

494,116
30,524

511,880
30,524

30,524
0
369,510

30,524
0
250,055

30,524
0
551,929

30,524
0
527,794

30,524
0
(116,358)
0
(116,358)

30,524
0
(92,306)
0
(92,306)

579,950

573,662

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

549,766
549,766
0
558,424
402,101
156,323
(8,658)
23,008
1,410
21,598

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

11,426

27,765

42,982

30,814

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

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

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

2005

2006

2007

2008

(Thousand Rupees)
2009
2010
783,304

717,586

40,994
652,875

0
698,657

610,505
56,171

596,566
59,721

0
126,692

0
101,947

5,113
54,877

19,072
122,466

2,547

11,249

23,209
23,351

27,414
46,101

594
5,176

229
37,473

641,746
381,186

746,862
411,241

260,560
352,646

335,621
272,782

261,312

192,500

0
0

0
0

4,371
86,963

3,825
76,457

(156,211)
600,000

(179,592)
600,000

600,000
0
(898,622)
0
(898,622)

600,000
0
(909,633)
0
(909,633)

142,411

130,041

653,736
653,736
0
652,940
404,793
248,147
796
513,541
1,245
512,296

913,016
909,352
3,665
803,135
513,332
289,803
109,881
26,034
6,014
20,020

61,173
130,200
129,067
(988,074)
0
0
0
150,806

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

490,882

475,956

656,178

613,434

568,101

884,288

597,947

740,830

746,150

967,963

1,285
967,140

0
1,030,712

490,882
15,204

475,956
43,555

656,178
40,458

612,994
58,894

560,702
53,917

882,081
53,937

440

352
0

281
0

271,315

217,859

295,595

324,000

5,762
184,652

1,926
196,790

30,104

1,080

3,171

4,784

1,478

5,593

136,856
46,523

129,324
52,268

115,532
126,445

188,012
74,931

53,389
18,389

67,381
16,801

0
57,832

0
35,187

0
50,447

0
56,273

0
111,396

0
107,016

357,422
303,130

253,539
204,509

472,836
310,271

537,894
399,576

432,672
331,368

432,492
259,821

54,292
181,760

49,030
234,322

162,565
174,155

138,318
191,191

101,305
215,378

172,670
243,600

120,557

134,497

80,240
0

80,240
0

181,760

234,322

174,155

191,191

3,340
11,242

4,910
23,954

223,015
80,000

205,954
80,000

304,782
80,000

208,349
80,000

104,702
80,000

404,986
80,000

80,000
0
143,015

80,000
0
125,954

80,000
0
224,782

80,000
0
128,349

80,000
0
(213,005)
0
(213,005)

80,000
0
(181,850)
0
(181,850)

237,708

506,836

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

850,027
707,168
142,859
848,279
614,433
233,846
1,748
50,506
6,757
43,749

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

30,649

40,252

38,598

40,410

15,232
4,250
0
0

(19,465)
4,515
0
0

(36,570)
5,495
0
0

(104,766)
3,674
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

281,911

322,477

291,987

75,179

161,400

156,838

326,324

522,552

519,926

129,583

0
129,583

0
129,583

159,312
12,883

322,477
33,451

291,987
29,838

75,179
178,119

70,092
5,088

65,531
4,561

122,599

0
0

0
0

193,454

152,166

114,263

104,865

91,308
12,283

91,308
11,234

2,304

2,126

784

715

947

1,073

169,576
10,992

70,658
8,464

47,431
0

0
9,685

0
8,175

0
7,000

0
10,582

0
70,918

0
66,048

0
94,465

0
3,161

0
3,161

356,064
151,793

286,145
63,697

269,711
23,222

153,153
0

113,998
0

114,225
0

204,271
55,600

222,448
50,718

246,489
65,592

153,153
0

113,998
39,222

114,225
39,222

55,600

50,718

65,592

63,701
99,096

137,780
99,096

99,096
0
(35,395)

39,222
0

39,222
0

0
0

0
0

70,947
99,096

26,891
99,096

20,462
99,096

14,625
99,096

99,096
0
38,684

99,096
0
(28,149)

99,096
0
(72,205)

99,096
0
(108,950)
0
(108,950)

99,096
0
(111,880)
0
(111,880)

30,316

27,409

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

0
0
0
0
0
0
0
1,528
0
1,528

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

8,737

10,499

3,084

1,959

(65,416)
1,203
0
0

(41,687)
2,746
0
0

(66,341)
494
0
0

(12,168)
39,394
0
0

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

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

(Thousand Rupees)
2009
2010

745,920

801,608

801,608

76,286

3,472,351

3,786,338

1,711,989

1,783,458

1,783,458

464,602

40,120
468,430

52,204
477,302

745,920
38,704

801,608
77,094

801,608
77,094

76,286
24,234

65,805
4,560

67,690
9,737

23,945
3,333,078

23,575
3,632,325

4,077,161

6,127,370

6,127,370

1,714,810

9,403
1,259,576

10,544
1,467,466

57,686

34,441

34,441

62,036

24,052

26,633

1,013,343
285,444

827,505
327,523

827,505
327,523

196,084
46,917

216,313
43,750

201,103
69,763

2,511,070
209,618

4,738,279
199,622

4,738,279
199,622

4,330
1,405,443

121,794
853,667

761,362
408,605

874,696
698,704

711,335
505,548

711,335
505,548

208,305
0

149,786
0

139,140
0

175,992
87,420

205,787
45,748

205,787
45,748

208,305
0

149,786
44,695

139,140
48,557

0
0

0
0

87,420

45,748

45,748

44,695
0

48,557
0

3,860,965
350,759

6,171,895
385,835

6,171,895
385,835

1,582,791
466,861

4,537,446
513,547

5,066,107
513,547

350,759
0
3,510,206

385,835
0
5,786,060

385,835
0
5,786,060

466,861
0
1,115,930

513,547
0
4,023,899
0
4,023,899

513,547
0
4,552,560
0
4,552,560

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

193,365
193,365
0
140,441
56,983
83,458
52,924
563,738
5,555
558,183

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

103,126

148,712

148,712

23,807

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,425,025

1,332,587

1,273,830

1,207,371

1,146,037

1,390,432

1,390,432

1,589,719

25,089
1,613,806

27,691
1,639,662

1,425,025
59,683

1,332,587
140,078

1,273,830
126,440

1,177,282
120,635

1,093,166
110,355

0
0

0
0

428,820

530,650

552,785

5,000
586,138

25,181
586,936

5,718

1,796

2,013

6,525

1,978

263,015
23,957

272,089
81,550

325,251
95,251

359,016
75,547

335,195
52,051

0
136,130

0
175,215

7,977
122,293

0
145,050

0
197,713

751,201
96,069

890,274
198,959

488,303
289,550

838,390
473,911

793,710
471,930

655,132
495,869

691,315
351,224

198,753
685,908

364,480
579,434

321,780
487,915

224,219

126,162

243,750

377,507
0

377,507
0

495,869

351,224

442,158

6,648
(28,940)

8,599
(24,352)

606,775
600,000

621,739
600,000

652,404
600,000

375,684
600,000

451,348
600,000

600,000
0
6,775

600,000
0
21,739

600,000
0
52,404

600,000
0
(224,316)
0
(224,316)

600,000
0
(148,652)
0
(148,652)

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

920,419
522,184
398,235
974,841
639,609
335,232
(54,422)
41,517
30,759
10,759

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

3,112

11,439

51,407

13,907
3,356
0
0

6,301
7,101
0
0

(38,366)
96,604
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

276,680

299,847

296,920

290,074

331,456

309,005

551,075

594,250

476,370

584,896

49,331
593,205

49,331
593,482

276,680
13,987

299,847
20,008

296,920
19,003

290,074
18,742

234,278
26,779

210,536
24,019

0
47,774

0
49,065

790,991

824,100

1,148,849

749,151

73
585,827

73
575,336

3,723

3,420

1,957

10,224

2,297

2,032

545,326
88,701

583,135
87,382

657,194
64,812

366,208
107,942

316,758
197,640

248,540
257,374

65,000
88,241

65,000
85,163

340,552
84,334

159,785
104,992

0
69,132

0
67,390

691,981
365,301

794,684
366,617

855,807
391,148

697,518
374,691

780,215
385,467

766,370
355,368

326,680
64,500

428,067
36,000

464,659
20,000

322,827
52,161

394,749
44,851

411,001
40,185

0
0

0
0

64,500

36,000

20,000

52,161

9,488
35,363

5,433
34,752

311,190
46,962

293,263
51,659

569,962
56,824

289,546
56,825

92,217
56,825

77,787
56,825

46,962
0
264,228

51,659
0
241,604

56,824
0
513,138

56,825
0
232,721

56,825
0
35,392
0
35,392

56,825
0
20,962
0
20,962

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

16,506

41,888

39,882

50,027

652,201
652,201
0
660,706
474,871
185,835
(8,505)
53,882
17,473
36,409

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

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

411,100

391,434

368,431

338,622

334,553

304,126

698,335

719,560

706,402

738,776

192
739,439

192
739,220

411,100
32,002

391,434
40,890

368,431
38,466

338,622
35,880

304,122
34,971

272,900
31,253

0
29,399

0
30,194

908,855

861,823

1,012,452

557,613

841
389,424

841
503,798

3,665

8,417

11,526

27,809

6,013

2,785

713,093
41,368

635,063
77,163

571,066
124,726

257,230
129,845

112,120
223,609

116,046
336,673

40,000
110,729

40,000
101,180

209,571
95,563

98,329
44,400

0
47,682

0
48,295

1,055,521
326,896

1,091,018
307,101

1,038,781
274,476

673,495
129,674

391,714
233,837

542,305
334,602

728,625
61,583

783,917
0

764,305
0

543,821
0

157,877
242,499

207,703
135,123

187,500

83,333

0
0

0
0

61,583

23,672
31,327

23,065
28,726

202,851
28,380

162,239
31,218

342,102
34,340

222,740
34,340

89,765
34,340

130,497
34,340

28,380
0
174,471

31,218
0
131,021

34,340
0
307,762

34,340
0
188,400

34,340
0
55,425
(5,300)
60,725

34,340
0
96,157
0
96,157

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

1,033,717
1,011,121
22,596
997,035
640,441
356,594
36,682
39,844
18,173
21,671

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

22,056

42,626

49,906

17,819

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,175,743

1,231,462

1,205,680

1,278,803

1,480,393

1,362,737

2,067,588

2,215,272

2,128,782

2,231,600

153,936
2,461,995

19,654
2,599,113

1,175,743
69,236

1,231,462
91,966

1,205,680
101,006

1,278,803
109,259

1,156,574
111,345

1,174,381
119,732

0
154,347

0
158,519

2,248,516

3,100,755

3,142,846

3,038,360

15,537
2,420,105

10,184
2,308,180

3,262

1,362

14,261

12,507

6,560

3,825

1,584,624
315,310

1,456,862
355,689

1,507,921
430,836

1,714,936
671,730

1,284,780
1,046,271

1,093,251
1,103,460

210,000
135,320

1,168,034
118,808

1,100,246
89,582

516,229
122,958

0
82,494

0
107,644

2,334,181
1,745,673

2,393,038
1,584,370

2,460,394
1,501,197

2,621,321
1,753,896

3,156,287
2,154,917

3,125,450
2,199,822

588,508
263,367

808,668
193,095

959,197
139,683

867,425
745,176

1,001,370
802,532

925,628
527,041

782,665

498,681

0
0

0
0

263,367

193,095

139,683

745,176

19,867
0

28,361
0

826,711
111,608

1,746,084
122,769

1,748,449
135,046

950,666
135,046

(58,320)
135,046

18,426
135,046

111,608
0
715,103

122,769
0
1,623,315

135,046
0
1,613,403

135,046
0
815,620

135,046
0
(193,366)
(27,826)
(165,540)

135,046
0
(116,620)
0
(116,620)

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

74,568

91,611

107,798

115,989

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

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

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,153,548

2,120,558

2,005,359

1,899,186

1,743,569

1,682,730

2,852,648

3,026,201

3,115,768

3,207,269

3,120
3,221,476

85,817
3,231,178

2,153,548
91,981

2,120,558
213,822

2,005,359
210,707

1,899,186
200,116

1,733,348
187,217

1,584,345
170,199

0
0

0
0

1,084,635

927,274

1,156,671

1,229,579

7,101
1,423,325

12,568
1,734,752

18,826

25,881

8,570

23,599

14,403

24,666

735,558
248,296

538,259
213,029

644,740
0

559,266
416,960

515,264
560,983

864,830
547,900

0
81,955

0
150,105

0
503,361

0
229,754

0
332,675

0
297,357

1,081,427
826,195

1,657,668
814,148

1,767,707
772,218

1,791,938
771,247

1,380,077
1,170,363

1,691,536
1,153,448

255,232
1,250,050

843,520
665,279

995,489
503,091

1,020,691
263,786

209,714
684,147

538,088
263,397

83,742

159,701

500,000
0

0
0

1,250,050

665,279

503,091

263,786

52,008
48,397

49,729
53,968

906,706
185,302

724,885
185,303

891,232
185,303

1,073,041
185,303

1,102,670
185,303

1,462,548
185,303

185,302
0
721,404

185,303
0
539,582

185,303
0
705,929

185,303
0
887,738

185,303
0
917,367
10,376
906,991

185,303
0
1,277,245
10,376
1,266,869

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

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

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

40,956

64,327

73,643

98,555

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

49,426

46,745

45,286

43,387

42,754

63,277

115,632

106,213

104,468

104,015

0
100,783

0
123,042

49,426
1,889

46,745
2,267

45,286
2,101

43,387
1,922

41,835
1,737

62,358
1,736

0
0

0
0

5,035

7,613

6,711

7,025

919
5,937

919
9,505

164

646

1,089

568

573

3,789

2,827
22

4,211
0

3,305
0

4,685
0

4,244
0

3,796
0

0
2,022

0
2,756

0
2,317

0
1,772

0
1,120

0
1,921

70,856
30,541

93,049
31,741

98,601
23,883

78,688
0

14,037
0

10,250
0

40,315
18,895

61,308
3,779

74,718
0

78,688
4,468

14,037
71,584

10,250
90,159

18,895

3,779

(35,290)
13,000

(42,470)
13,000

13,000
0
(48,290)

66,798
0

78,624
0

4,468

2,287
2,500

2,635
8,900

(46,604)
13,000

(32,744)
13,000

(36,931)
13,000

(27,627)
13,000

13,000
0
(55,470)

13,000
0
(59,604)

13,000
0
(45,744)

13,000
0
(76,599)
0
(76,599)

13,000
0
(82,530)
0
(82,530)

26,668

41,903

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

139,722
139,722
0
143,243
112,926
30,318
(3,521)
1,806
0
1,806

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

1,383

2,024

1,376

1,365

41,139
51
0
0

(3,127)
371
0
0

(4,468)
553
0
0

15,199
747
0
0

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

1,770

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

886,487

890,215

975,948

957,356

923,595

894,119

1,278,768

1,330,959

1,495,215

1,578,462

13,758
1,621,703

0
1,694,203

886,487
35,481

890,215
87,737

975,948
89,491

957,356
99,665

904,722
97,355

886,961
91,252

0
0

0
0

477,037

428,397

713,069

849,137

5,115
902,086

7,158
831,559

49,218

73,354

114,343

53,643

16,336

13,259

281,520
41,073

249,491
49,179

304,520
98,388

565,470
145,492

583,005
185,809

595,116
119,778

0
105,226

0
56,373

0
195,818

0
84,532

0
116,936

0
103,406

455,086
308,113

473,810
374,710

662,193
471,238

850,510
647,875

892,181
777,339

691,251
476,565

146,973
516,970

99,100
451,192

190,955
585,713

202,635
471,695

114,842
464,639

214,686
445,146

407,694

367,712

0
0

0
0

516,970

451,192

585,713

471,695

15,532
41,414

14,025
63,409

391,468
109,500

393,610
109,500

441,111
109,500

484,288
109,500

468,860
109,500

589,281
109,500

109,500
0
281,968

109,500
0
284,110

109,500
0
331,611

109,500
0
374,788

109,500
0
359,360
7,760
351,600

109,500
0
479,781
7,760
472,021

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

2,441,020
1,910,310
530,710
2,167,921
1,452,354
715,567
273,099
86,207
38,986
47,221

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

35,596

44,393

60,598

96,686

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,716,766

1,671,963

1,725,274

1,603,724

1,624,424

1,623,573

2,258,768

2,377,539

2,605,635

2,666,969

16
2,684,970

44,241
2,709,472

1,716,766
99,689

1,671,963
180,395

1,725,274
179,011

1,603,724
184,328

1,461,870
164,554

1,340,344
152,367

0
153,005

0
230,415

1,103,127

970,372

1,244,592

1,438,196

9,534
1,206,601

8,574
1,291,859

15,848

29,490

24,152

26,622

13,327

74,333

698,364
168,457

588,087
160,238

685,831
293,439

877,948
265,447

822,996
235,948

893,253
190,746

11,892
208,566

111,319
81,238

130,086
111,084

140,845
127,334

0
134,330

0
133,528

1,360,307
1,110,692

827,264
606,459

1,310,563
794,000

1,425,328
902,504

1,243,805
1,005,922

1,193,097
866,699

249,615
740,615

220,805
967,013

516,563
631,388

522,824
559,353

237,883
551,840

326,398
291,825

380,446

121,716

89,286
0

100,000
0

740,615

967,013

631,388

559,353

42,854
39,254

50,118
19,990

718,971
100,000

848,058
100,000

1,027,915
100,000

1,057,239
100,000

1,035,380
100,000

1,430,511
100,000

100,000
0
618,971

100,000
0
748,058

100,000
0
927,915

100,000
0
957,239

100,000
0
935,380
850,000
85,380

100,000
0
1,330,511
1,250,000
80,511

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

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

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

80,917

96,471

82,718

95,652

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,282,428

2,466,667

2,300,148

2,140,103

2,636,344

2,809,304

3,004,522

4,376,079

4,384,656

4,385,995

112,656
4,386,395

276,563
4,539,688

1,282,428
74,559

2,466,667
105,211

2,300,148
105,681

2,140,103
94,877

1,995,513
85,134

2,003,223
91,713

0
524,358

0
525,701

5,552,367

5,263,990

5,620,709

6,753,510

3,818
6,983,246

3,818
7,267,916

24,833

40,604

56,872

12,598

11,005

13,412

2,492,289
1,910,166

2,114,227
2,133,093

2,267,554
2,335,579

2,125,628
3,848,164

1,761,621
4,949,819

1,303,099
5,655,316

523,689
601,390

526,512
449,554

528,135
432,569

526,032
241,088

0
260,801

0
296,089

3,179,416
1,667,703

3,052,873
1,640,058

3,494,355
1,885,484

4,680,474
2,708,582

5,587,473
3,820,992

6,094,464
3,836,223

1,511,713
1,905,147

1,412,815
1,865,317

1,608,871
1,644,925

1,971,892
1,501,489

1,766,482
1,349,221

2,258,241
1,349,016

1,263,841

1,246,543

51,000
0

51,000
0

1,905,147

1,865,317

1,644,925

1,501,489

8,381
26,000

10,473
41,000

1,750,232
12,500

2,812,467
12,500

2,781,577
12,500

2,711,650
12,500

2,682,895
12,500

2,633,740
12,500

12,500
0
1,737,732

12,500
0
2,799,967

12,500
0
2,769,077

12,500
0
2,699,150

12,500
0
1,524,652
420
1,524,232

12,500
0
1,529,368
1,764
1,527,604

1,145,743

1,091,873

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

3,050,989
426,985
2,624,004
2,971,848
2,767,606
204,242
79,140
115,536
19,022
96,514

2,442,559
874,205
1,568,354
2,423,991
2,067,897
356,094
18,568
85,394
18,450
66,944

84,792
428,826
427,574
39,026
5,000
1,250
0
(220,527)

129,650
561,197
559,746
27,722
8,100
1,875
0
351,294

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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)

4,032,116
1,263,841
32,776
5,084,832

3,982,756
1,246,543
17,747
5,082,766

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,527,126

2,008,520

2,858,193

3,271,019

4,445,080

4,354,033

2,341,482

2,940,634

3,934,229

4,601,171

2,626
5,820,275

389
5,923,436

1,527,126
90,333

2,008,520
119,298

2,858,193
151,775

3,271,019
252,839

4,329,858
157,155

4,256,856
176,163

0
58,459

0
58,459

2,133,724

3,149,985

3,618,481

5,232,393

54,137
4,655,607

38,329
4,024,649

72,934

131,547

97,094

154,820

173,006

79,828

1,387,099
282,859

1,421,717
375,300

2,104,908
662,200

3,562,286
671,637

3,293,669
332,471

2,679,930
453,214

58,599
332,233

58,599
1,162,822

58,159
696,120

760
842,890

0
856,461

0
811,677

2,359,785
1,823,698

3,394,851
2,568,922

4,449,466
3,209,134

6,173,216
4,674,523

5,206,111
3,931,123

4,334,810
3,189,683

536,087
417,756

825,929
1,010,133

1,240,332
1,266,632

1,498,693
1,331,035

1,274,988
2,065,560

1,145,127
1,977,404

1,393,675

1,301,973

597,006
0

607,516
0

417,756

1,010,133

1,266,632

1,331,035

35,077
39,802

28,113
39,802

883,309
142,310

753,521
142,310

760,576
142,310

999,161
142,310

1,829,016
142,310

2,066,468
142,310

142,310
0
740,999

142,310
0
611,211

142,310
0
618,266

142,310
0
856,851

142,310
0
752,927
18,648
734,279

142,310
0
990,379
18,648
971,731

933,779

933,779

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

7,654,539
5,868,803
1,785,736
6,735,425
6,679,554
55,871
919,114
154,693
0
154,693

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

55,024

66,109

79,768

109,837

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

256,604

605,604

570,453

594,196

594,196

594,196

531,076

895,840

914,381

987,864

0
987,864

0
987,864

256,604
15,190

605,604
26,770

570,453
46,257

594,196
50,349

594,196
50,349

594,196
50,349

144,854

308,140

368,805

766,330

766,330

766,330

3,054

694

2,951

768

768

768

63,921
38,975

174,511
85,270

143,002
113,255

566,601
91,916

566,601
91,916

566,601
91,916

0
38,904

0
47,665

0
109,597

0
107,045

0
107,045

0
107,045

160,452
73,604

356,214
301,096

577,884
280,739

682,747
573,323

682,747
573,323

682,747
573,323

86,848
71,546

55,118
57,426

297,145
2,984

109,424
173,638

109,424
173,638

109,424
173,638

71,546

57,426

2,984

173,638

173,638

173,638

169,460
92,067

500,104
92,067

358,390
92,067

504,141
92,067

504,141
92,067

504,141
92,067

92,067
0
77,393

92,067
0
408,037

92,067
0
266,323

92,067
0
412,074

92,067
0
412,074

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,165,307

2,573,959

5,557,052

5,763,022

6,214,254

6,563,205

3,250,201

3,626,803

6,932,294

7,395,952

71,598
7,735,510

24,558
8,253,593

2,163,287
163,564

2,569,818
250,040

5,553,464
248,349

5,760,032
121,075

5,655,304
261,447

5,921,186
266,402

2,020

4,141

3,588

2,990

7,063
467,888

6,221
596,842

2,178,079

2,574,056

2,791,840

3,950,588

12,401
3,584,952

14,399
4,329,573

175,755

327,267

293,724

369,533

77,400

123,498

1,187,268
215,314

1,402,392
395,380

1,345,340
578,350

2,012,300
694,168

2,222,091
739,100

2,645,453
883,730

6
599,736

252,967
196,050

252,967
321,459

467,888
406,699

0
546,361

0
676,893

2,174,844
1,767,970

2,397,346
1,704,748

6,833,936
1,463,333

3,317,937
2,383,651

3,144,491
2,666,625

3,542,361
2,620,502

406,874
1,213,734

692,598
1,398,388

5,370,603
230,921

934,286
2,511,598

477,865
2,669,147

921,859
2,752,072

1,688,473

1,645,081

0
0

0
0

1,213,734

1,398,388

230,921

2,511,598

48,482
932,192

56,057
1,050,934

954,808
148,262

1,352,281
413,089

1,284,035
437,552

3,884,075
437,552

3,985,568
437,552

4,598,345
437,552

148,262
0
806,546

163,089
250,000
939,192

187,552
250,000
846,483

187,552
250,000
3,446,523

187,552
250,000
1,263,107
127,616
1,135,491

187,552
250,000
1,880,350
177,616
1,702,734

2,284,908

2,280,444

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

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

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

203,936

229,411

262,390

268,811

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

669,942

652,327

741,766

1,663,897

2,015,417

2,325,364

1,399,424

1,407,892

1,550,952

1,597,122

1,325,830
1,625,504

1,685,793
1,636,775

669,942
49,681

652,327
66,420

741,766
76,523

1,663,897
69,699

679,842
68,976

629,583
63,947

0
0

0
0

1,029,418

1,216,469

1,082,521

1,664,834

9,745
867,052

9,988
1,354,393

3,498

2,007

1,514

14,552

3,610

299,235

727,997
235,954

484,255
649,618

329,953
646,461

601,284
841,740

501,080
204,001

408,158
458,638

0
61,969

0
80,589

0
104,593

0
207,258

0
158,361

0
188,362

896,139
774,375

1,122,958
918,079

1,114,379
747,293

1,529,306
1,324,313

1,063,681
356,753

2,225,060
1,564,764

121,764
0

204,879
0

367,086
0

204,993
1,079,477

706,928
1,082,828

660,296
103,435

1,000,000

0
0

0
0

1,079,477

38,796
44,032

40,802
62,633

803,221
61,875

745,838
61,875

709,908
61,875

719,948
61,875

735,960
61,875

1,351,262
61,875

61,875
0
741,346

61,875
0
683,963

61,875
0
648,033

61,875
0
658,073

61,875
0
674,085
34,416
639,669

61,875
0
1,289,387
34,416
1,254,971

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

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

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

44,736

53,662

50,248

47,315

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,057,989

3,020,789

2,947,544

3,063,735

2,835,300

2,804,358

4,886,417

5,140,206

5,338,084

5,713,224

6,919
5,676,961

29,127
5,887,425

3,057,989
243,264

3,020,789
318,992

2,947,544
307,152

3,063,735
307,195

2,753,743
303,668

2,695,557
281,719

0
0

0
0

2,707,974

3,123,853

2,906,215

4,479,271

74,638
3,208,422

79,674
3,741,677

276,134

75,580

95,535

171,612

118,908

125,510

1,957,207
154,509

1,878,052
622,454

1,246,899
924,723

2,527,576
1,024,204

1,951,187
671,114

2,159,942
998,552

0
320,124

0
547,767

15,238
623,820

83,335
672,544

0
467,213

0
457,673

2,693,996
2,061,806

3,407,892
2,422,818

3,266,990
1,883,858

4,918,468
3,679,226

2,956,070
1,818,665

2,827,804
1,560,890

632,190
750,000

985,074
375,000

1,383,132
50,581

1,239,242
310,253

1,137,405
1,113,633

1,266,914
916,021

897,974

630,161

0
0

0
0

750,000

375,000

50,581

310,253

76,541
139,117

100,246
185,613

2,321,967
234,375

2,361,750
234,375

2,536,188
234,375

2,314,285
234,375

1,974,019
234,375

2,802,210
234,375

234,375
0
2,087,592

234,375
0
2,127,375

234,375
0
2,301,813

234,375
0
2,079,910

234,375
0
1,739,644
103,125
1,636,519

234,375
0
2,567,835
103,125
2,464,710

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

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

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

183,166

238,827

291,700

550,144

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,671,201

1,836,333

1,720,959

1,650,435

1,535,885

1,412,429

2,469,348

2,729,691

2,771,584

2,815,335

0
2,903,804

158
2,918,237

1,671,201
118,634

1,836,333
152,925

1,720,959
167,146

1,650,435
156,743

1,530,188
149,039

1,406,574
138,258

0
0

0
0

395,693

504,024

582,021

793,335

5,697
1,007,654

5,697
1,069,371

14,898

4,593

3,878

290

7,621

19,371

205,075
79,055

371,231
81,621

359,710
145,846

582,302
119,667

733,463
175,771

732,389
189,741

0
96,665

0
46,579

0
72,587

0
91,076

0
90,798

0
127,870

872,583
250,773

985,140
402,611

1,549,414
296,618

2,012,300
757,792

1,177,032
995,610

1,297,775
1,035,029

621,810
533,113

582,529
758,793

1,252,796
451,345

1,254,508
313,501

181,422
1,402,504

262,747
1,114,395

363,546

247,394

936,999
0

754,289
0

533,113

758,793

451,345

313,501

24,434
77,525

28,856
83,857

661,198
326,356

596,424
326,356

302,221
326,356

117,969
326,356

(35,998)
326,356

69,630
326,356

326,356
0
334,842

326,356
0
270,068

326,356
0
(24,135)

326,356
0
(208,387)

326,356
0
(590,573)
0
(590,573)

326,356
0
(460,503)
0
(460,503)

228,219

203,777

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

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

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

127,169

108,735

116,455

126,182

(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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

482,458

519,673

531,013

568,032

543,555

574,639

991,957

1,060,392

1,104,648

176,389

4,527
1,395,676

0
1,181,631

482,458
28,401

519,673
35,532

531,013
38,820

568,032
39,451

536,294
37,585

571,126
35,708

0
0

0
0

237,414

190,279

217,792

316,076

2,735
247,770

3,513
264,917

9,782

3,940

2,687

2,118

1,681

8,121

172,461
42,518

97,230
59,729

96,358
80,597

175,988
100,254

111,415
100,369

128,274
88,597

0
12,653

0
29,380

0
38,150

0
37,716

0
34,305

0
39,925

413,134
217,186

416,556
115,949

537,833
206,439

391,354
359,226

300,946
265,797

189,905
147,807

195,948
49,999

300,607
66,666

331,394
35,145

32,128
282,758

35,149
303,796

42,097
305,228

49,999

66,666

35,145

256,739
116,400

226,730
116,400

116,400
0
140,339

299,802
0

299,802
0

282,758

3,994
0

5,426
0

175,827
116,400

209,996
116,400

186,583
116,400

344,423
116,400

116,400
0
110,330

116,400
0
59,427

116,400
0
93,596

116,400
0
(203,808)
0
(203,808)

116,400
0
(93,426)
0
(93,426)

273,991

321,450

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

868,203
812,314
55,889
815,897
599,358
216,540
52,306
17,816
9,395
8,421

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

15,189

28,495

33,129

19,474

(175)
2,117
0
0

(24,605)
4,713
0
0

(45,186)
5,781
0
0

(19,602)
3,666
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

240,283

238,483

238,483

238,483

181,178

173,123

371,709

389,271

389,271

389,271

0
377,366

4,455
378,676

240,283
13,298

238,483
16,370

238,483
16,370

238,483
16,370

174,515
18,626

160,093
17,219

0
0

0
0

232,634

308,123

308,123

308,123

6,663
133,343

8,575
84,567

1,277

1,279

1,279

1,279

194

123

138,731
27,871

186,479
25,472

186,479
25,472

186,479
25,472

15,267
36,740

16,274
23,773

0
64,755

0
94,893

0
94,893

0
94,893

0
81,142

0
44,397

229,953
166,116

371,646
320,491

371,646
320,491

371,646
320,491

119,516
70,557

67,998
18,406

63,837
146,990

51,155
104,713

51,155
104,713

51,155
104,713

48,959
184,189

49,592
168,660

105,002

91,942

79,187
0

76,718
0

146,990

104,713

104,713

104,713

0
0

0
0

95,974
44,402

70,247
46,621

70,247
46,621

70,247
46,621

10,816
46,621

21,033
46,621

44,402
0
51,572

46,621
0
23,626

46,621
0
23,626

46,621
0
23,626

46,621
0
(40,805)
0
(40,805)

46,621
0
(30,588)
0
(30,588)

5,000

5,000

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

206,893
206,893
0
183,194
104,008
79,186
23,699
11,441
1,416
10,025

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

9,995

12,356

12,356

12,356

7,483
1,995
0
0

(23,864)
1,100
0
0

(23,864)
1,100
0
0

(23,864)
1,100
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

918,498

883,965

717,305

603,483

299,922

274,362

1,717,122

1,730,701

1,455,757

1,159,160

0
678,886

0
679,645

918,498
45,312

883,965
55,658

717,305
95,801

603,483
32,979

229,636
25,742

207,401
23,349

0
0

0
0

1,166,845

537,995

143,421

136,614

70,286
193,436

66,961
188,133

2,753

443

1,813

14

6,326

2,565

829,413
170,182

246,815
76,225

0
53,439

0
53,209

0
83,175

0
82,270

0
164,497

0
214,512

0
88,169

0
83,391

0
103,935

0
103,298

1,079,238
828,050

927,693
591,402

343,341
20,718

320,376
21,276

487
0

215
0

251,188
367,504

336,291
408,418

322,623
534,000

299,100
460,483

487
0

215
0

0
0

0
0

367,504

408,418

534,000

460,483

0
0

0
0

638,601
155,880

85,849
163,674

(16,615)
163,674

(40,762)
163,674

492,871
163,664

462,280
163,664

155,880
0
482,721

163,674
0
(77,825)

163,674
0
(180,289)

163,674
0
(204,436)

163,664
0
329,207
0
329,207

163,664
0
298,616
0
298,616

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

0
0
0
42,376
0
42,376
(42,376)
50,885
10,108
40,777

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

28,652

368,537

13,349

10,179

6,168
3,861
0
0

(550,252)
2,500
0
0

(101,365)
1,099
0
0

(24,148)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

392,889

578,921

571,553

571,553

1,611,351

1,624,272

742,052

966,914

999,685

999,685

1,790
2,703,649

990
2,738,040

392,889
19,863

578,921
39,222

571,553
44,435

571,553
44,435

1,416,972
70,139

1,384,946
67,908

0
178,715

0
225,069

573,892

609,845

773,691

773,691

13,875
2,678,802

13,267
2,905,887

30,397

54,953

69,657

69,657

161,034

41,705

396,033
69,781

313,375
90,754

419,399
144,276

419,399
144,276

1,825,395
467,208

1,958,569
653,569

10,485
67,196

21,218
129,545

23,290
117,069

23,290
117,069

488
224,678

0
252,044

560,123
508,259

626,130
562,774

961,247
493,202

961,247
493,202

2,801,111
2,485,633

2,968,813
2,625,735

51,864
172,012

63,356
246,021

468,045
60,424

468,045
60,424

315,478
502,727

343,079
473,232

192,019

134,820

250,000
0

250,000
0

172,012

246,021

60,424

60,424

24,924
35,784

26,116
62,296

234,646
100,000

316,615
100,000

323,573
110,000

323,573
110,000

986,315
168,372

1,088,113
185,209

100,000
0
134,646

100,000
0
216,615

110,000
0
213,573

110,000
0
213,573

168,372
0
574,207
66,000
508,207

185,209
0
659,169
66,000
593,169

243,736

243,736

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

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

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

13,721

37,167

46,693

46,693

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,476,002

1,780,266

1,978,518

2,080,377

3,596,318

3,862,593

2,680,290

3,100,811

3,238,591

3,504,987

79,518
3,658,255

50,116
3,952,691

1,476,002
88,123

1,780,266
135,370

1,978,518
140,275

2,080,377
89,610

2,071,643
95,536

2,270,113
97,243

0
1,411,433

0
1,499,843

2,603,640

3,976,778

4,660,688

5,741,601

33,724
5,680,768

42,521
5,659,765

38,669

34,845

55,402

28,828

56,809

62,625

1,407,531
647,667

1,573,239
724,447

1,891,974
896,134

2,872,063
992,689

4,098,002
1,202,179

3,765,348
1,417,133

363,580
146,193

1,284,914
359,333

1,460,487
356,691

1,488,884
359,137

0
323,779

0
414,659

2,362,672
2,137,779

2,656,383
2,273,983

3,402,749
2,524,293

4,660,372
3,380,024

5,897,064
5,168,809

5,428,899
4,704,055

224,893
648,686

382,400
841,045

878,456
756,803

1,280,348
629,293

728,255
867,389

724,844
1,358,004

708,593

1,150,298

52,925

0
0

0
0

595,761

841,045

756,803

629,293

50,983
107,813

57,636
150,069

1,068,284
126,360

2,259,616
132,678

2,479,654
145,946

2,532,313
160,540

2,512,633
172,581

2,735,455
189,839

126,360
0
941,924

132,678
0
2,126,938

145,946
0
2,333,708

160,540
0
2,371,773

172,581
0
1,828,499
379,080
1,449,419

189,839
0
2,034,063
379,080
1,654,983

511,553

511,553

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

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

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

56,413

136,451

169,914

154,278

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,206,850

1,487,422

1,464,102

1,443,232

1,611,351

1,624,272

2,159,711

2,545,043

2,604,072

2,654,081

1,790
2,703,649

990
2,738,040

1,206,850
71,347

1,487,422
108,777

1,463,795
118,022

1,443,079
68,656

1,416,972
70,139

1,384,946
67,908

307

153

0
178,715

0
225,069

1,373,237

1,589,892

1,926,477

2,157,997

13,875
2,678,802

13,267
2,905,887

21,473

74,116

88,787

129,190

161,034

41,705

936,836
298,837

815,367
393,426

1,159,662
370,112

1,302,405
397,970

1,825,395
467,208

1,958,569
653,569

26,329
89,762

126,595
180,388

106,003
201,913

107,493
220,939

488
224,678

0
252,044

1,338,739
1,180,284

1,547,272
1,346,690

2,006,926
1,233,823

2,043,394
1,250,779

2,801,111
2,485,633

2,968,813
2,625,735

158,455
630,106

200,582
645,582

773,103
466,146

792,615
592,691

315,478
502,727

343,079
473,232

192,019

134,820

127,862

250,000
0

250,000
0

502,244

645,582

466,146

592,691

24,924
35,784

26,116
62,296

611,242
126,500

884,460
126,500

917,507
139,150

965,144
153,065

986,315
168,372

1,088,113
185,209

126,500
0
484,742

126,500
0
757,960

139,150
0
778,357

153,065
0
812,079

168,372
0
574,207
66,000
508,207

185,209
0
659,169
66,000
593,169

243,736

243,736

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

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

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

40,031

87,855

105,479

95,950

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

92,321

91,849

90,150

88,997

170,581

171,690

0
171,705

0
172,358

92,321
1,791

91,849
92,321

90,150
1,714

88,997
1,806

0
0

0
0

2,754

2,366

0
983

0
3,376

216

725

394

2,598

0
484,100

0
0

0
0

0
0

0
(481,562)

1
1,640

0
589

0
779

76,481
75,552

102,025
0

5,680
0

7,249
0

929
126,756

102,025
0

5,680
86,740

7,249
83,204

126,756

86,277
0

82,722
0

463
0

482
0

(108,162)
12,000

(7,810)
12,000

(1,286)
12,000

1,920
12,000

12,000
0
(120,162)

12,000
0
(19,810)

12,000
0
(108,071)
0
(108,071)

12,000
0
(103,726)
0
(103,726)

94,785

93,646

0
0
0
0

0
0
0
0

0
4,260

0
3,374

0
0
0
0
0
0
0
4,411
0
4,411

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

4,260

3,374

469
236
0
0

1,128
221
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

176,186

162,796

221,673

218,741

211,308

205,225

278,531

289,040

367,491

367,491

0
250,330

0
253,526

161,685
8,231

162,796
12,368

221,673
20,143

218,741
5,762

210,697
8,044

204,614
6,127

14,501

0
0

0
0

214,365

209,119

129,418

70,142

611
43,591

611
46,343

620

1,409

2,200

135

665

3,588

148,131
31,989

105,988
31,433

64,229
26,420

27,873
21,204

1,529
26,852

787
28,713

21,538
12,087

16,941
53,348

0
36,569

0
20,930

0
14,545

0
13,256

222,971
101,480

211,037
144,606

173,736
80,280

125,366
46,320

59,378
40,921

62,825
40,925

121,491
16,423

66,431
10,295

93,456
3,283

79,046
21,621

18,457
70,070

21,900
60,229

32,963

32,963

14,516
0

13,216
0

16,423

10,295

3,283

21,621

215
22,376

199
13,851

151,157
99,792

150,583
99,792

174,072
119,750

141,896
119,750

125,451
119,750

128,513
119,750

99,792
0
51,365

99,792
0
50,791

119,750
0
54,322

119,750
0
22,146

119,750
0
(54,316)
0
(54,316)

119,750
0
(49,138)
0
(49,138)

60,017

57,901

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

45,779
45,779
0
46,439
14,761
31,678
(660)
2,651
58
2,593

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

6,296

14,613

12,702

4,697

5,048
1,645
1,724
0

9,853
3,126
0
0

(33,691)
1,326
0
0

(22,910)
353
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

451,503

449,467

433,417

537,276

525,962

508,354

704,459

721,524

724,305

724,413

0
853,895

0
858,446

451,503
12,345

449,467
19,101

433,417
19,197

537,276
18,474

522,409
22,613

504,801
22,160

0
2

0
2

118,536

140,350

160,011

142,351

3,551
192,453

3,551
196,457

7,059

30,067

35,648

4,283

1,134

1,000

91,527
2,081

52,210
12,577

60,766
10,479

86,696
6,311

31,236
4,964

22,134
6,385

4,976
12,893

4,976
40,520

5
53,113

3
45,058

0
155,119

0
166,938

320,123
88,528

505,264
70,308

590,045
70,346

547,014
86,510

299,834
131,307

299,851
130,055

231,595
220,605

434,956
34,583

519,699
24,656

460,504
196,487

168,527
566,624

169,795
578,021

168,605

169,742

321,649
0

339,448
0

220,605

34,583

24,656

196,487

1,999
74,370

1,683
67,148

29,311
68,750

49,970
137,500

(21,273)
137,500

(63,874)
137,500

(148,043)
137,500

(173,062)
137,500

68,750
0
(39,439)

137,500
0
(87,530)

137,500
0
(158,773)

137,500
0
(201,374)

137,500
0
(377,692)
10,313
(388,004)

137,500
0
(398,303)
10,313
(408,615)

92,149

87,741

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

9,798

15,539

12,783

26,485

776,073
776,073
0
782,176
598,177
183,999
(6,103)
37,906
6,084
31,822

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)

(19,242)
2,475
0
0

29,788
3,121
0
0

(69,047)
2,537
0
0

(43,188)
3,326
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

66,761

120,818

114,784

115,265

115,570

120,020

139,022

199,178

199,095

204,192

0
204,384

0
213,409

66,761
5,452

120,818
6,099

114,444
6,879

115,265
6,981

109,261
6,704

114,144
7,162

340

0
2,195

0
1,762

175,044

211,688

195,347

192,807

4,114
189,328

4,114
189,804

621

1,500

1,099

620

1,445

2,650

59,097
41,117

86,332
39,824

87,696
31,265

89,664
20,895

90,763
42,598

79,561
38,230

874
73,335

1,572
82,460

1,142
74,145

1,591
80,037

0
54,523

0
69,362

170,966
94,895

247,421
132,735

225,140
83,987

181,591
86,981

182,928
104,502

188,980
85,701

76,071
34,036

114,686
28,042

141,153
14,850

94,610
68,413

78,426
54,103

103,278
51,836

3,715

1,992

9,378
0

5,402
0

34,036

28,042

14,850

68,413

38,830
2,181

43,901
541

36,803
37,800

57,043
37,800

70,141
37,800

58,068
37,800

67,868
37,800

69,009
37,800

37,800
0
(997)

37,800
0
19,243

37,800
0
32,341

37,800
0
20,268

37,800
0
(29,007)
3,596
(32,603)

37,800
0
(26,328)
3,163
(29,490)

59,075

57,536

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

454,602
19,777
434,825
348,181
176,768
171,413
106,421
72,869
45,279
27,590

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

70,796

74,005

70,275

66,186

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

225,653

213,777

197,916

197,916

190,675

258,629

315,762

317,473

294,640

294,640

4,498
324,077

142
407,641

225,653
10,675

213,777
14,063

197,916
12,555

197,916
12,555

186,177
11,768

258,487
11,799

0
0

0
0

126,864

169,591

132,413

132,413

0
80,425

0
77,182

483

38

791

791

620

2,995

70,151
29,902

94,993
37,733

70,740
28,775

70,740
28,775

46,252
15,023

36,429
15,630

0
26,328

0
36,827

0
32,107

0
32,107

0
18,530

0
22,129

252,733
108,689

309,887
153,160

502,427
127,745

502,427
127,745

249,117
82,659

267,984
76,125

144,044
56,916

156,727
48,515

374,682
39,195

374,682
39,195

166,457
256,496

191,859
244,005

56,916

48,515

39,195

42,868
132,716

24,966
132,716

132,716
0
(89,848)

20,469

12,515

225,886
0

225,886
0

39,195

10,142
0

5,604
0

(211,293)
132,716

(211,293)
132,716

(234,512)
132,716

(176,177)
132,716

132,716
0
(107,750)

132,716
0
(344,009)

132,716
0
(344,009)

132,716
0
(442,642)
0
(442,642)

132,716
0
(456,392)
0
(456,392)

75,414

147,499

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

250,142
250,142
0
272,022
176,497
95,525
(21,880)
10,432
1,600
8,832

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

7,701

10,692

19,167

19,167

(20,933)
1,398
0
0

(17,541)
1,951
0
0

4,070
1,895
0
0

4,070
1,895
0
0

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

7,678

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,563,628

1,758,241

1,789,023

2,130,507

0
2,144,825

0
2,201,618

1,563,628
69,087

1,500,810
79,606

1,480,325
78,878

0
247,653

0
294,863

9,779
1,465,223

13,836
1,567,817

1,729,140
1,176,068
553,072
1,471,236

1,697,964
2,080

17,586

6,021

1,198,999
187,558

1,214,811
136,600

1,333,960
79,498

208,237
101,090

0
96,226

0
148,338

1,734,436
941,044

1,729,143
1,383,611

1,710,386
1,380,294

793,392
399,298

345,532
365,014

330,091
268,321

295,752

186,297

0
0

0
0

399,298

69,263
0

82,024
0

1,127,858
715,520

1,129,306
715,520

1,378,134
715,520

715,520
0
412,338

715,520
0
347,894
0
347,894

715,520
0
596,722
0
596,722

65,893

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

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

152,248
341,029
333,108
12,232
10,355
0
0
288,961

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

524,270

484,704

481,297

465,285

452,623

415,678

1,138,272

1,154,076

1,201,590

1,231,652

0
1,194,971

0
1,197,217

524,270
48,631

484,704
55,800

481,297
50,922

465,285
46,526

442,833
57,415

391,483
53,596

0
476

0
641

1,303,020

1,207,656

1,489,134

1,505,489

9,314
1,574,391

23,554
1,433,370

8,902

8,709

4,815

4,237

1,306

8,390

593,831
613,114

610,017
475,819

800,063
538,406

801,381
554,540

797,817
614,060

566,958
675,904

453
86,720

499
112,612

0
145,850

0
145,331

0
161,208

0
182,119

1,354,845
812,742

1,032,997
626,867

1,320,466
720,553

1,428,434
707,845

1,365,081
999,438

1,249,685
943,372

542,103
0

406,130
225,556

599,913
234,437

720,589
144,936

365,643
277,135

306,312
352,789

248,818

340,300

0
0

0
0

225,556

234,437

144,936

11,636
16,682

12,489
0

472,445
106,259

433,807
106,258

415,528
106,258

397,404
106,258

384,798
106,259

246,575
106,259

106,259
0
366,186

106,258
0
327,549

106,258
0
309,270

106,258
0
291,146

106,259
0
278,539
33,858
244,682

106,259
0
140,317
33,858
106,459

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

1,395,273
248,055
1,147,218
1,167,447
718,539
448,908
227,826
55,380
27,445
27,935

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

63,889

55,056

73,252

55,926

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

557,798

725,620

682,190

636,685

1,045,604

999,661

866,224

1,088,457

1,091,003

1,102,165

0
1,059,602

0
1,063,623

557,798
20,644

725,620
55,706

682,190
53,129

636,685
49,419

1,043,457
1,169

997,659
995

0
0

0
0

437,058

453,546

485,357

428,418

2,147
412,174

2,002
381,991

23,709

24,725

10,212

12,100

5,914

6,113

225,968
143,716

237,417
119,217

246,705
160,088

179,872
164,503

212,652
122,429

228,873
60,212

0
43,665

0
72,187

0
68,352

0
71,943

0
71,179

0
86,793

579,918
411,008

663,438
471,487

777,767
491,395

830,722
465,653

629,102
487,762

736,525
515,952

168,910
233,179

191,951
189,001

286,372
141,271

365,069
147,791

141,340
513,143

220,573
474,732

128,596

95,943

209,153
0

209,153
0

233,179

189,001

141,271

147,791

30,461
144,933

33,853
135,783

181,759
100,008

326,727
100,008

248,509
100,008

86,590
100,008

315,533
100,008

170,395
100,008

100,008
0
81,751

100,008
0
226,719

100,008
0
148,501

100,008
0
(13,418)

100,008
0
(279,881)
0
(279,881)

100,008
0
(408,027)
0
(408,027)

495,407

478,414

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

1,331,862
910,269
421,593
1,242,908
949,367
293,541
88,954
44,477
20,458
24,020

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

32,734

61,567

62,153

46,662

11,353
3,155
0
0

(25,909)
6,754
0
0

(72,166)
6,052
0
0

(155,760)
6,159
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

404,720

539,598

560,418

584,889

565,992

544,946

704,389

869,279

931,910

989,022

0
65,153

400
65,153

404,720
17,314

539,598
31,563

560,418
43,658

584,889
45,638

563,078
4,901

541,632
2,811

0
0

0
0

158,340

175,929

172,415

260,318

2,914
174,247

2,914
234,918

6,023

12,081

39,507

6,591

3,259

26,997

78,475
47,357

86,914
27,467

80,966
26,563

179,234
39,905

90,301
54,401

83,985
80,355

0
26,485

0
49,467

0
25,379

0
34,588

0
26,286

0
43,581

170,870
130,624

244,866
164,147

296,033
86,900

470,014
170,223

250,710
175,167

285,047
193,428

40,246
250,457

80,719
347,793

209,133
326,261

299,791
301,270

75,543
460,929

91,619
388,272

208,422

114,360

245,675
0

234,225
0

250,457

347,793

326,261

301,270

6,832
0

8,020
31,667

141,733
99,200

122,868
99,200

110,539
99,200

73,923
99,200

28,600
99,200

106,545
99,200

99,200
0
42,533

99,200
0
23,668

99,200
0
11,339

99,200
0
(25,277)

99,200
0
(70,600)
0
(70,600)

99,200
0
7,345
0
7,345

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

1,111,393
1,111,393
0
1,050,120
781,381
268,739
61,273
37,912
5,439
32,473

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

17,114

23,098

24,957

35,851

5,254
2,569
0
0

12,750
3,612
0
0

(13,426)
4,285
0
0

(45,268)
4,925
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

629,679

882,319

1,054,945

1,020,024

967,359

1,059,888

988,184

1,028,696

1,026,370

1,272,906

3,313
1,047,788

4,619
1,434,254

629,679
38,023

882,319
50,427

1,054,945
52,600

1,020,024
63,916

952,280
67,457

1,047,788
65,981

0
0

0
0

599,916

605,763

700,690

958,806

11,767
857,293

7,482
777,399

6,587

43,624

65,562

101,528

30,781

46,077

299,093
205,298

266,922
207,308

328,242
221,286

489,161
295,770

490,090
268,812

300,600
381,852

0
88,938

0
87,909

0
85,600

0
72,347

0
67,611

0
48,871

593,814
443,245

789,825
457,641

901,488
312,365

1,019,379
435,926

841,772
678,673

709,716
612,040

150,569
179,274

332,184
127,793

589,123
247,015

583,453
365,958

163,099
381,056

97,676
401,065

179,274

127,793

247,015

456,507
180,480

570,464
180,480

180,480
0
276,027

99,811

45,393

100,330
0

100,330
0

365,958

10,313
170,602

11,416
243,926

607,132
180,480

593,493
180,480

601,825
180,480

726,507
180,480

180,480
0
389,984

180,480
0
426,652

180,480
0
413,013

180,480
0
126,152
0
126,152

180,480
0
167,600
0
167,600

295,193

378,427

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

751,716
751,716
0
635,400
366,318
269,083
116,315
24,680
1,353
23,327

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

21,177

26,727

32,488

44,420

32,996
3,353
0
0

25,554
3,096
0
0

26,329
3,772
0
0

26,110
4,378
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,216,903

4,175,945

3,457,490

3,258,316

4,092,590

4,333,431

4,375,250

5,642,271

5,130,639

5,262,687

0
5,360,287

0
5,500,152

3,216,903
163,860

4,175,945
339,869

3,457,490
330,906

3,258,316
323,812

3,054,934
309,364

2,918,740
289,462

0
1,036,115

0
1,409,204

1,806,631

2,226,048

3,226,123

3,658,948

1,542
3,039,112

5,487
2,606,690

24,181

28,670

41,192

49,324

66,894

69,268

1,248,498
290,617

1,466,959
416,854

1,251,553
764

1,511,144
861,127

2,215,792
515,706

1,571,944
721,961

11,023
232,312

0
313,565

931,480
1,001,134

927,983
309,370

0
240,720

0
243,517

1,631,981
1,164,461

2,545,408
1,907,130

2,549,545
1,161,104

2,682,170
1,470,648

2,994,701
2,573,218

1,666,022
1,149,547

467,520
1,712,389

638,278
1,977,592

1,388,441
1,851,669

1,211,522
1,933,449

421,483
1,659,906

516,475
963,705

1,204,700

626,648

73,000
0

0
0

1,712,389

1,977,592

1,851,669

1,933,449

69,694
312,512

73,877
263,180

1,679,164
172,131

1,878,993
180,737

2,282,399
180,737

2,301,645
180,737

2,477,095
180,737

4,310,394
180,737

172,131
0
1,507,033

180,737
0
1,698,256

180,737
0
2,101,662

180,737
0
2,120,908

180,737
0
2,296,358
22,432
2,273,926

180,737
0
4,129,657
22,432
4,107,225

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

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

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

179,661

234,822

249,183

367,788

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

782,792

916,977

921,459

870,239

820,456

783,414

1,168,277

1,324,268

1,438,620

1,450,359

0
1,460,934

558
1,482,528

782,792
38,191

916,977
55,842

921,459
69,303

870,239
67,876

816,760
63,536

779,160
59,679

0
0

0
0

1,074,448

915,127

1,086,800

1,260,685

3,696
1,155,320

3,696
1,046,076

86,829

6,900

91,109

13,739

9,575

11,501

430,417
445,990

438,923
43,625

541,402
360,879

680,601
454,307

641,706
407,323

478,356
436,995

0
111,212

0
425,679

0
93,410

0
112,038

0
96,716

0
119,224

1,053,868
836,333

1,037,293
753,582

1,200,481
755,784

1,227,707
966,008

1,156,218
998,544

964,863
732,561

217,535
292,411

283,711
343,261

444,697
338,145

261,699
451,631

157,674
391,153

232,302
390,338

264,389

206,750

66,500
0

94,000
0

292,411

343,261

338,145

451,631

16,740
43,524

16,880
72,708

510,961
96,600

451,550
96,600

469,633
96,600

451,586
96,600

428,405
96,600

474,289
96,600

96,600
0
414,361

96,600
0
354,950

96,600
0
373,033

96,600
0
354,986

96,600
0
212,191
17,250
194,941

96,600
0
260,296
17,250
243,046

119,614

117,393

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

2,389,314
1,634,055
755,259
2,093,799
1,573,110
520,689
295,515
94,905
52,005
42,900

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

53,072

65,320

53,670

87,109

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

174,787

329,891

312,895

292,793

313,157

295,482

364,493

534,416

538,931

538,963

0
538,884

0
538,884

174,787
9,663

329,891
14,818

312,895
21,511

292,793
20,135

273,769
18,944

256,094
17,675

0
0

0
0

137,276

158,651

175,514

174,476

39,388
153,437

39,388
127,996

2,669

806

689

656

3,716

807

76,915
18,040

78,648
33,205

78,251
47,664

63,513
58,434

105,321
27,935

44,425
65,424

0
39,652

0
45,992

0
48,910

0
51,873

0
16,465

0
17,340

207,752
72,144

289,879
92,794

330,428
90,582

246,729
91,453

190,795
135,553

132,017
91,991

135,608
76,965

197,085
56,370

239,846
17,769

155,276
88,667

55,242
178,705

40,026
184,137

76,965

56,370

17,769

27,346
42,500

142,293
42,500

42,500
0
(15,154)

137,039
0

137,038
0

88,667

175
41,492

1,285
45,814

140,212
42,500

131,873
42,500

97,095
42,500

107,323
42,500

42,500
0
99,793

42,500
0
97,712

42,500
0
89,373

42,500
0
(62,291)
0
(62,291)

42,500
0
(45,318)
0
(45,318)

116,886

110,141

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

226,352
226,352
0
239,948
145,376
94,572
(13,596)
6,795
4,431
2,364

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

5,847

8,183

9,281

8,313

10,427
1,717
0
0

8,996
2,680
0
0

(5,185)
2,747
0
0

(11,631)
2,657
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

386,433

362,335

345,378

594,736

706,660

720,329

475,857

479,947

495,998

610,924

889
631,522

1,472
637,581

386,433
30,278

362,335
30,278

345,378
27,167

594,736
25,596

577,195
30,030

555,317
28,716

0
128,496

0
163,470

431,626

347,162

522,459

655,809

80
569,665

70
406,777

10,492

16,075

23,103

10,976

10,674

26,260

219,652
130,510

134,499
111,678

242,202
164,196

327,042
164,083

370,786
119,791

251,194
71,139

2,886
68,086

18,630
66,280

17,514
75,444

18,162
135,546

0
68,414

0
58,185

446,794
275,867

378,057
211,883

585,475
345,756

615,882
452,261

643,220
463,783

352,572
180,345

170,927
132,698

166,174
135,606

239,719
61,092

163,621
284,810

179,437
289,826

172,227
242,248

155,006

127,418

50,000
0

10,000
0

132,698

135,606

61,092

284,810

12,286
72,534

11,355
93,475

238,567
5,000

195,834
5,000

221,270
5,000

349,853
5,000

343,278
5,000

532,287
5,000

5,000
0
233,567

5,000
0
190,834

5,000
0
216,270

5,000
0
344,853

5,000
0
19,883
569
19,314

5,000
0
209,363
558
208,805

318,395

317,923

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

1,403,698
1,043,882
359,816
1,292,376
929,830
362,546
111,322
109,384
48,440
60,944

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

34,783

51,871

66,685

143,180

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

205,858

191,020

369,728

332,190

322,372

307,689

309,455

315,232

387,739

387,927

0
388,471

10,663
386,603

205,858
8,403

191,020
20,615

369,728
21,324

332,190
37,431

305,405
27,330

280,014
26,186

0
0

0
0

63,926

65,768

100,801

94,412

16,967
30,891

17,012
63,223

9,439

1,396

20,874

14,891

9,661

21,593

33,987
1,733

13,183
2,249

15,185
6,880

26,433
0

13,616
0

17,530
5,637

50
18,717

159
48,781

0
57,862

0
53,088

0
7,613

0
18,463

259,774
0

83,240
0

312,367
0

299,057
0

43,982
0

65,877
0

259,774
15,111

83,240
215,471

312,367
15,111

299,057
15,111

43,982
233,629

65,877
235,601

15,111

215,471

15,111

(5,101)
126,012

(41,923)
126,012

126,012
0
(131,113)

15,111

15,111

177,201
0

174,869
0

15,111

2,878
38,439

1,619
44,002

143,051
126,012

112,434
126,012

75,652
126,012

69,434
126,012

126,012
0
(167,935)

126,012
0
17,039

126,012
0
(13,578)

126,012
0
(278,773)
0
(278,773)

126,012
0
(272,807)
0
(272,807)

228,414

216,230

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

480,345
432,771
47,574
509,677
352,116
157,561
(29,332)
11,396
2,576
8,820

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

12,599

20,350

15,383

12,587

(1,923)
1,416
0
0

10,024
3,833
0
0

12,218
2,488
0
0

(33,719)
2,803
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

457,235

717,657

1,011,194

951,299

952,008

937,726

480,041

759,741

1,012,459

997,709

26,905
1,017,383

28,034
1,060,472

457,235
11,890

717,657
19,278

1,011,194
29,412

951,299
48,767

901,636
47,303

899,447
45,497

0
0

0
0

403,501

409,975

385,820

423,602

23,467
380,491

10,245
354,253

40,813

7,610

9,842

20,752

5,200

24,454

134,080
173,940

122,167
199,847

122,373
126,031

181,422
96,775

107,406
150,406

207,017
73,766

8
54,660

7
80,344

8
127,566

6
124,647

0
117,480

0
49,016

400,268
271,682

612,244
372,279

814,328
288,689

740,857
291,418

433,246
254,513

341,923
253,124

128,586
121,587

239,965
242,819

525,639
98,916

449,439
192,791

178,733
477,909

88,799
352,415

121,587

242,819

98,916

338,881
70,000

272,569
70,000

70,000
0
268,881

73,710

22,275

332,845
0

228,888
0

192,791

0
71,354

0
101,252

483,770
70,000

441,253
70,000

421,343
70,000

597,641
175,000

70,000
0
202,569

70,000
0
413,770

70,000
0
371,253

70,000
0
34,901
0
34,901

175,000
0
158,864
0
158,864

316,442

263,777

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

835,155
687,683
147,472
743,468
517,610
225,858
91,687
35,472
12,520
22,953

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

35,079

61,475

39,110

29,247

(5,254)
3,881
0
0

(41,094)
6,994
0
0

14,327
8,738
0
0

(10,455)
4,864
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,179,045

1,225,974

1,547,998

1,524,003

1,514,602

1,984,048

1,420,581

1,556,230

1,836,399

1,825,338

3,845
1,881,218

0
2,217,788

1,179,045
37,132

1,225,974
92,991

1,547,998
50,386

1,524,003
54,970

1,497,608
53,567

1,929,393
53,561

0
10,804

0
52,228

427,624

423,188

513,821

604,682

2,345
462,621

2,427
460,914

2,265

9,781

4,768

5,092

3,177

5,850

325,095
2,318

308,010
5,714

379,028
23,003

430,773
37,675

358,881
26,623

364,761
12,082

9,670
88,276

26,876
72,807

28,962
78,060

41,016
90,126

0
73,940

0
78,221

571,471
404,365

746,631
523,075

794,711
468,765

748,822
584,510

698,670
555,000

559,916
429,873

167,106
351,128

223,556
356,658

325,946
377,421

164,312
478,776

143,670
446,823

130,043
517,481

326,339

285,438

16,521

0
0

0
0

351,128

356,658

360,900

478,776

10,203
110,281

17,569
214,474

684,070
28,777

545,873
28,777

889,687
31,723

901,087
31,655

831,730
31,655

1,367,565
43,064

28,777
0
655,293

28,777
0
517,096

31,655
68
857,964

31,655
0
869,432

31,655
0
138,462
29,862
108,600

43,064
0
296,063
18,453
277,610

661,613

1,028,438

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

1,071,738
1,071,738
0
1,010,091
630,495
379,596
61,647
40,746
5,870
34,876

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

28,357

32,504

37,428

41,511

(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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

231,141

571,433

660,235

667,219

790,963

813,482

451,031

713,638

570,633

857,186

0
871,989

10,897
862,483

231,141
110,963

571,433
22,314

537,353
24,258

666,952
200,553

649,735
21,683

636,688
20,068

122,882

267

0
137,243

0
162,743

183,273

189,325

97,211

147,831

3,985
141,534

3,154
106,962

3,501

5,848

5,390

5,412

7,966

3,975

30,310
20,945

40,897
8,875

22,269
7,353

30,687
9,467

28,618
22,719

32,153
13,223

104,237
24,280

89,757
43,948

0
62,199

565
101,700

25,112
57,120

19,978
37,632

336,485
36,099

375,414
48,224

310,826
6,679

301,480
0

151,395
40,548

127,903
36,968

300,386
162,537

327,190
141,192

304,147
288,528

301,480
154,048

110,846
123,882

90,935
105,318

57,228

38,521

0
0

0
0

162,537

141,192

288,528

154,048

26,309
40,345

30,595
36,202

(84,608)
70,169

244,152
70,169

158,092
70,169

359,522
70,169

657,221
324,912

687,223
324,912

70,169
0
(154,777)

70,169
0
173,983

70,169
0
87,923

70,169
0
289,353

324,912
0
(182,017)
(11,305)
(170,712)

324,912
0
(144,973)
0
(144,973)

514,326

507,284

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

763,285
763,285
0
707,363
599,253
108,110
55,922
46,986
1,223
45,762

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

17,053

14,625

13,059

14,130

5,129
2,171
0
0

(4,787)
2,907
0
0

9,096
4,769
0
0

118
3,758
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

63

63

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

0
0

84

84

83

90

63
18

63
18

16

17

16

23

14

14

0
0

0
0

0
0

0
0

0
0

0
0

0
68

0
67

0
67

0
67

0
4

0
4

488
0

567
0

654
0

764
0

945
0

1,192
0

488
0

567
0

654
0

764
0

945
0

1,192
0

0
0

0
0
0
0

0
0

(404)
11,833

(483)
11,833

(571)
11,838

(674)
11,833

(863)
11,833

(1,110)
11,833

11,833
0
(12,237)

11,833
0
(12,316)

11,838
0
(12,409)

11,833
0
(12,507)

11,833
0
(12,696)
0
(12,696)

11,833
0
(12,943)
0
(12,943)

0
0
0
0

0
0
0
0

0
0
0
0

0
0
0
0

0
47

0
78

0
93

0
97

0
0
0
0
0
0
0
188
0
188

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

78

93

97

(47)
0
0
0

(78)
0
0
0

(93)
0
0
0

(98)
0
0
0

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

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

H.Key Performance Indicators

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

248,524

228,941

224,896

473,761

447,133

436,719

361,329

365,774

381,114

380,990

0
383,665

0
388,065

248,524
10,098

228,941
12,450

224,896
10,952

473,761
13,857

429,091
9,692

419,089
11,415

0
0

0
0

271,949

278,132

266,152

208,243

18,042
98,627

17,630
149,934

3,593

3,967

2,768

2,451

1,663

13,400

133,518
17,251

73,153
20,799

52,571
33,657

47,132
7,693

2,496
247

18,001
11,329

0
117,587

0
180,213

0
177,156

0
150,967

0
94,221

0
107,204

208,249
99,210

325,405
132,305

354,216
105,730

335,044
93,405

90,445
39,712

143,557
68,335

109,039
39,049

193,100
25,670

248,486
14,225

241,639
101,710

50,733
293,374

75,222
260,627

39,049

25,670

14,225

273,175
107,000

155,998
107,000

107,000
0
166,175

8,469

206,993
0

207,036
0

101,710

5,240
72,673

5,543
48,047

122,607
107,000

245,250
107,000

161,941
107,000

182,469
107,000

107,000
0
48,998

107,000
0
15,607

107,000
0
138,250

107,000
0
(122,322)
0
(122,322)

107,000
0
(88,738)
0
(88,738)

177,263

164,207

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

431,304
430,993
311
487,450
349,815
137,635
(56,146)
13,169
0
13,169

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

10,928

15,392

15,078

23,938

(6,811)
1,489
0
0

(38,419)
2,126
0
0

(46,001)
2,470
0
0

(77,229)
3,288
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

426,018

426,930

410,171

373,672

335,325

291,612

473,112

518,347

545,242

550,575

0
539,330

0
521,092

426,018
21,084

426,930
44,737

410,171
43,654

373,672
41,831

331,187
36,125

289,563
32,038

0
0

0
0

119,499

101,703

97,789

132,430

4,138
101,694

2,049
35,593

20,744

1,466

4,368

3,301

610

1,576

71,993
14,682

80,698
1,267

69,554
3,074

99,174
5,348

82,127
3,106

11,768
2,990

0
12,080

0
18,272

0
20,793

0
24,607

0
15,851

0
19,259

189,310
82,880

281,558
101,192

365,782
99,483

289,835
110,344

113,778
57,134

115,256
46,799

106,430
90,384

180,366
127,936

266,299
111,504

179,491
253,649

56,644
415,045

68,457
362,004

268,496

264,554

93,253
0

85,406
0

90,384

127,936

111,504

253,649

1,546
51,750

2,194
9,850

265,823
131,748

119,139
131,748

30,674
131,748

(37,382)
131,748

(91,804)
131,748

(150,055)
131,748

131,748
0
134,075

131,748
0
(12,609)

131,748
0
(101,074)

131,748
0
(169,130)

131,748
0
(346,590)
0
(346,590)

131,748
0
(393,325)
0
(393,325)

123,038

111,522

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

292,920
292,920
0
346,600
213,393
133,207
(53,680)
12,540
79
12,461

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

11,392

19,965

17,989

18,444

10,587
2,773
0
0

(39,345)
2,042
0
0

(88,827)
2,027
0
0

(67,717)
1,893
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

53,715

48,344

41,208

41,190

39,994

30,798

323,965

323,965

316,232

316,232

0
219,314

0
219,314

53,715
4,357

48,344
5,372

41,208
4,567

41,190
18

30,723
17

30,709
14

0
0

0
0

79,088

71,884

39,259

12,116

9,271
6,725

89
6,642

2,091

3,715

4,218

213

92

49

73,687
1,018

45,622
0

17,985
24

0
24

0
0

0
0

0
2,292

0
22,547

0
17,032

0
11,879

0
6,633

0
6,593

129,887
19,881

135,369
23,149

67,934
11,039

31,781
0

63,837
4,155

56,427
4,155

110,006
0

112,220
0

56,895
0

31,781
8,992

59,682
19,786

52,272
20,690

9,349

5,194

1,445
0

15,496
0

8,992

0
8,992

0
0

2,916
12,275

(15,141)
12,275

12,533
12,275

12,533
12,275

(36,903)
12,275

(39,677)
12,275

12,275
0
(9,359)

12,275
0
(27,416)

12,275
0
258

12,275
0
258

12,275
0
(49,178)
258
(49,436)

12,275
0
(51,952)
258
(52,210)

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

0
0
0
0
0
0
0
8,716
0
8,716

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

3,078

3,890

7,613

2,251

(3,091)
1,126
0
0

967
2,030
0
0

(4,662)
2,360
0
0

(8,636)
80
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

664,040

702,160

664,961

752,160

866,002

828,870

942,836

1,016,987

1,045,242

1,144,864

0
1,129,943

10,316
1,098,262

654,965
36,063

685,151
56,579

664,698
56,856

752,160
396,943

792,683
60,046

748,745
43,450

9,075

17,009

263

0
0

0
0

459,479

482,675

539,486

549,278

73,319
379,812

69,809
706,212

2,812

442

115

57

811

575

356,229
76,714

329,439
131,915

338,671
139,426

188,602
267,681

101,094
237,316

421,020
221,283

0
23,724

0
20,879

0
61,274

0
92,938

0
40,591

0
63,334

505,045
448,616

566,677
475,670

571,190
426,308

632,393
501,734

530,909
370,283

833,199
633,020

56,429
321,711

91,007
273,125

144,882
311,769

130,659
302,999

160,626
417,150

200,179
387,669

295,473

262,500

100,000
0

100,000
0

321,711

273,125

311,769

302,999

20,659
1,018

23,906
1,263

296,763
88,000

345,033
208,000

321,488
208,000

366,046
208,000

297,755
208,000

314,214
208,000

88,000
0
208,763

208,000
0
137,033

208,000
0
113,488

208,000
0
158,046

208,000
0
(226,094)
0
(226,094)

208,000
0
(195,256)
0
(195,256)

315,849

301,470

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

1,444,643
1,416,986
27,657
1,444,217
927,048
517,169
426
50,255
10,365
39,890

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

26,266

38,651

42,698

42,088

(34,613)
0
0
0

4,470
5,890
0
0

(34,572)
6,575
0
0

(86,099)
7,194
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,479,738

1,558,434

1,506,752

849,283

817,018

794,215

4,035,571

2,194,486

2,198,850

862,979

0
827,646

0
834,381

3,479,738
37,101

1,558,434
51,864

1,506,752
57,520

849,283
27,373

792,782
17,939

775,026
17,115

0
20,811

0
15,763

798,348

423,134

524,981

542,666

3,426
115,194

3,426
26,906

66,724

41,454

93,329

24,762

8,870

8,971

365,392
7,562

239,982
1,638

215,787
6,854

14,608
0

5,813
5,075

0
2,686

17,685
340,985

10,935
129,125

105,408
103,603

51,570
451,726

0
95,436

0
15,249

3,158,524
1,413,238

1,066,449
401,279

1,032,458
449,172

790,791
25,671

116,987
7,943

30,122
865

1,745,286
0

665,170
2,695

583,286
115,762

765,120
101,748

109,044
426,463

29,257
438,463

426,463

438,463

0
0

0
0

2,695

115,762

101,748

0
0

0
0

1,119,562
288,596

912,424
288,596

883,513
288,596

499,410
303,025

388,763
303,025

352,535
303,025

288,596
0
830,966

288,596
0
623,828

288,596
0
594,917

303,025
0
196,385

303,025
0
(556,255)
187,395
(743,650)

303,025
0
(590,809)
187,395
(778,204)

641,993

640,320

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

0
0
0
0
0
0
0
301,814
0
301,814

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

69,987

73,801

117,943

134,812

(34,866)
4,561
0
0

89,045
5,039
0
0

(118,005)
5,391
0
0

(151,579)
1,880
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,841,463

4,104,627

4,104,627

4,104,627

5,628,503

5,408,094

5,074,467

5,561,093

5,561,093

5,561,093

76,673
7,643,941

42,653
7,730,380

3,841,463
163,504

4,099,627
268,132

4,099,627
268,132

4,099,627
268,132

5,483,273
272,679

5,299,081
323,789

5,000

5,000

5,000

42,474
0

40,452
0

3,088,372

3,718,892

3,718,892

3,718,892

26,083
3,415,467

25,908
3,249,760

139,334

181,197

181,197

181,197

281,229

76,535

1,155,956
594,753

1,614,546
1,038,802

1,614,546
1,038,802

1,614,546
1,038,802

1,226,956
872,369

1,155,317
774,727

211,160
987,169

275,634
608,713

275,634
608,713

275,634
608,713

172,526
862,387

272,264
970,918

3,222,566
2,534,289

4,679,882
3,645,542

4,679,882
3,645,542

4,679,882
3,645,542

6,150,478
4,782,795

7,363,807
5,432,643

688,277
2,013,425

1,034,340
1,438,956

1,034,340
1,438,956

1,034,340
1,438,956

1,367,683
1,016,955

1,931,164
438,911

948,092

346,049

199,995

119,997

119,997

119,997

0
0

0
0

1,813,430

1,318,959

1,318,959

1,318,959

0
68,863

0
92,862

1,693,844
330,591

1,704,681
330,591

1,704,681
330,591

1,704,681
330,591

1,876,538
509,110

855,136
509,110

330,591
0
1,363,253

330,591
0
1,374,090

330,591
0
1,374,090

330,591
0
1,374,090

509,110
0
330,102
242,870
87,232

509,110
0
(678,128)
386,720
(1,064,847)

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

1,037,326

1,024,153

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

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

256,997

347,377

347,377

347,377

(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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

712,037

1,124,428

1,123,377

1,201,968

1,223,998

1,210,883

1,632,468

2,105,479

2,004,362

2,003,895

0
2,387,557

0
2,382,968

712,037
54,115

1,124,428
70,455

1,123,377
60,999

1,201,968
59,336

1,218,664
65,480

1,199,289
65,916

0
516

0
274

977,491

824,581

739,561

1,085,587

4,819
1,369,117

11,320
1,472,305

197,501

170,191

144,352

8,519

1,357

3,004

528,844
17,890

542,502
29,758

442,694
48,081

703,921
68,377

953,282
88,546

1,009,537
164,136

26,693
206,563

466
81,664

482
103,952

1,355
303,415

71,500
254,432

41,500
254,127

2,008,532
691,520

1,263,358
501,124

1,127,355
488,228

1,371,711
767,475

1,347,931
950,202

1,527,764
1,137,469

1,317,012
157,195

762,234
271,907

639,127
303,847

604,236
472,618

397,729
1,005,031

390,295
772,037

575,226

336,753

397,000
0

397,000
0

157,195

271,907

303,847

472,618

32,805
0

38,284
0

(476,199)
394,875

413,744
1,300,000

431,736
1,300,000

443,226
1,300,000

240,154
1,300,000

383,387
1,300,000

394,875
0
(871,074)

1,300,000
0
(886,256)

1,300,000
0
(868,264)

1,300,000
0
(856,774)

1,300,000
0
(1,059,846)
0
(1,059,846)

1,300,000
0
(916,613)
0
(916,613)

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

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

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

77,848

105,818

123,855

130,773

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

10,836,428

3,561,259

3,971,021

3,972,540

8,143,655

10,501,191

13,407,225

5,144,283

5,475,591

6,048,099

92,336
6,552,906

86,324
9,275,570

11,128,568
540,424

3,561,259
253,478

3,971,021
327,480

3,972,540
363,853

4,047,897
369,616

6,409,975
371,618

(292,140)

0
3,969,805

0
3,970,005

5,135,379

7,778,730

10,513,032

9,542,782

33,617
5,131,884

34,887
6,556,108

518,142

436,811

63,371

75,387

80,297

78,851

2,860,570
732,979

1,607,795
887,407

1,755,097
1,062,320

1,673,062
1,340,460

1,779,826
1,050,101

2,393,113
1,329,065

360,231
663,457

3,828,749
1,017,968

5,937,832
1,694,412

3,756,737
2,697,136

607,610
1,614,050

642,111
2,112,968

4,700,328
3,642,713

3,909,345
2,938,757

4,509,338
2,775,505

5,485,049
3,994,524

6,762,527
5,727,513

8,169,138
6,838,894

1,057,615
4,071,560

970,588
2,723,236

1,733,833
2,680,804

1,490,525
3,044,651

1,035,014
2,190,079

1,330,244
1,853,068

2,019,490

1,695,072

184,150

71,250

0
0

0
0

3,887,410

2,651,986

2,680,804

3,044,651

0
170,589

0
157,996

7,199,919
962,158

4,707,408
1,058,374

7,293,911
1,455,262

4,985,622
1,455,262

4,322,933
1,455,262

7,035,093
1,455,262

962,158
0
6,237,761

1,058,374
0
3,649,034

1,455,262
0
5,838,649

1,455,262
0
3,530,360

1,455,262
0
1,604,079
583,336
1,020,743

1,455,262
0
1,906,006
607,402
1,298,604

1,263,592

3,673,825

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

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

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

390,763

538,982

520,552

543,540

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

152,879

152,870

152,862

240,569

240,588

240,582

209,678

209,678

209,678

297,391

0
297,391

0
297,391

152,879
7

152,870
9

152,862
8

240,569
7

240,563
6

240,557
5

0
0

0
0

73,011

870

613

611

25
589

25
590

80

74

74

72

76

76

0
0

0
0

0
0

0
475

0
475

0
475

0
72,931

0
796

0
539

0
64

0
39

0
39

252,466
54,012

199,013
0

199,548
0

200,426
0

1,456
0

382
0

198,454
2,986

199,013
0

199,548
0

200,426
0

1,456
199,893

382
201,859

2,986

(29,562)
121,237

(45,273)
121,237

121,237
0
(150,799)

199,893
0

201,859
0

0
0

0
0

(46,073)
121,237

40,754
121,237

39,829
121,237

38,931
121,237

121,237
0
(166,510)

121,237
0
(167,310)

121,237
0
(80,483)

121,237
0
(169,122)
0
(169,122)

121,237
0
(170,019)
0
(170,019)

87,713

87,713

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

0
0
0
0
0
0
0
924
0
924

0
0
0
0
0
0
0
896
0
896

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

43,576

72,708

797

885

(43,579)
0
0
0

(15,711)
0
0
0

(800)
0
0
0

(885)
0
0
0

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

488
1
0
(897)
0
0
0
(1,966)

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

H.Key Performance Indicators

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,312,652

1,665,827

1,656,746

1,755,924

1,977,159

2,341,767

2,592,148

2,964,341

3,122,874

3,206,068

144
3,256,301

92,958
3,431,711

1,312,652
75,692

1,665,827
111,865

1,656,746
168,750

1,755,924
174,020

1,632,149
180,122

1,681,073
167,646

0
338,388

0
256,658

1,458,149

1,525,485

2,054,042

2,598,381

6,478
2,441,209

311,078
2,672,950

9,790

7,584

8,849

7,612

9,226

15,358

982,130
44,813

939,876
69,394

1,130,147
97,238

1,646,959
145,331

1,443,806
387,579

1,642,560
420,538

284,590
136,826

273,300
235,331

261,151
556,657

273,106
525,373

262,280
338,317

269,408
325,087

897,385
637,421

1,088,869
843,232

1,407,252
1,030,593

1,924,504
1,549,880

1,972,157
1,592,346

1,955,831
1,462,730

259,964
366,446

245,637
550,619

376,659
601,619

374,624
748,559

379,811
734,754

493,101
809,170

595,030

688,597

0
0

0
0

366,446

550,619

601,619

748,559

0
139,724

0
120,573

1,506,970
99,740

1,551,824
99,850

1,701,917
99,850

1,681,242
99,850

1,711,456
99,850

2,249,716
150,000

99,740
0
1,407,230

99,850
0
1,451,974

99,850
0
1,602,067

99,850
0
1,581,392

99,850
0
1,611,606
7,120
1,604,486

150,000
0
2,099,716
7,120
2,092,596

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

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

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

155,667

166,900

180,592

332,926

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

603,058

628,841

622,921

593,974

723,032

696,829

865,356

952,751

955,127

973,944

1,850
1,205,822

3,880
1,235,266

603,058
21,838

628,841
61,850

622,921
61,651

593,974
56,119

716,757
56,778

687,581
58,619

0
868

0
868

251,754

333,670

390,437

577,171

3,558
614,221

4,500
318,317

3,348

586

2,380

2,744

8,205

494

127,329
46,417

211,295
70,179

226,068
109,024

223,708
299,676

286,307
276,956

166,592
114,659

870
73,790

869
50,741

869
52,096

868
50,175

0
42,753

0
36,572

259,192
94,587

383,224
260,626

503,516
342,541

742,653
583,018

888,734
604,766

451,755
282,566

164,605
311,742

122,598
314,125

160,975
305,123

159,635
250,190

283,968
136,862

169,189
162,754

57,075

65,625

62,807
0

62,807
0

311,742

314,125

305,123

250,190

6,791
10,189

9,537
24,785

283,878
168,000

265,162
168,000

204,719
168,000

178,302
168,000

311,657
168,000

400,636
168,000

168,000
0
115,878

168,000
0
97,162

168,000
0
36,719

168,000
0
10,302

168,000
0
(6,611)
0
(6,611)

168,000
0
82,368
0
82,368

150,268

150,268

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

1,807,314
935,071
872,243
1,636,003
1,181,986
454,017
171,311
80,739
52,471
28,268

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

29,437

38,051

36,716

55,035

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,882,373

2,216,416

2,808,261

3,025,599

3,166,615

3,954,541

1,944,852

3,213,760

3,156,186

3,500,076

22,966
4,488,594

135,173
5,355,230

1,882,373
81,979

2,216,416
182,865

2,808,261
138,239

3,025,599
226,193

3,126,591
87,216

3,807,338
439,278

0
0

0
0

3,976,717

4,302,876

4,517,871

5,208,822

17,058
6,455,124

12,030
8,342,574

651,010

59,234

75,568

137,255

321,026

482,074

1,784,057
1,015,202

1,891,260
1,414,949

1,813,977
1,611

1,838,707
1,933,875

1,727,771
3,197,857

1,789,329
3,538,815

0
526,448

0
937,433

0
2,626,715

0
1,298,985

0
1,208,470

0
2,532,356

3,535,032
2,677,548

4,169,732
3,168,665

4,809,285
3,684,328

3,946,816
2,621,724

5,151,640
3,654,594

6,855,439
4,752,138

857,484
690,447

1,001,067
685,448

1,124,957
597,897

1,325,092
2,096,885

1,497,046
1,949,718

2,103,301
1,767,529

1,800,948

1,581,643

0
0

0
0

690,447

685,448

597,897

2,096,885

148,770
0

185,886
0

1,633,611
900,000

1,664,112
900,000

1,918,950
900,000

2,190,720
900,000

2,520,381
900,000

3,674,147
1,141,667

300,000
600,000
733,611

300,000
600,000
764,112

300,000
600,000
1,018,950

300,000
600,000
1,290,720

900,000
0
1,240,961
300,000
940,961

1,141,667
0
2,153,060
600,000
1,553,060

379,420

379,420

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

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

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

288,811

383,500

386,654

517,713

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

246,829

235,846

225,307

214,369

1,333

748

249,603

249,172

249,226

248,085

0
3,668

0
3,536

246,829
7,594

235,846
7,594

225,307
10,622

214,369
10,038

851
115

681
109

0
416

0
0

381,904

182,525

155,564

121,683

66
146,138

66
112,637

1,474

1,490

1,491

1,492

33

112

22,857
284,645

6,970
97,568

3,393
40,110

13,440
14,309

0
1,047

0
1,047

300
72,628

300
76,197

300
110,270

416
92,026

0
145,059

0
111,479

381,515
34,714

181,705
28,880

150,073
12,415

56,225
9,309

94,440
32,159

62,413
0

346,801
156,805

152,825
146,708

137,658
141,809

46,916
77,764

62,282
0

62,413
0

0
0

0
0

156,805

146,708

141,809

77,764

0
0

0
0

90,413
92,000

89,958
92,000

88,989
92,000

202,063
92,000

53,031
92,000

50,972
92,000

92,000
0
(1,587)

92,000
0
(2,042)

92,000
0
(3,011)

92,000
0
110,063

92,000
0
(39,085)
0
(39,085)

92,000
0
(41,028)
0
(41,028)

116

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

89,000
89,000
0
111,215
84,561
26,654
(22,215)
5,131
252
4,879

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

5,275

8,995

10,747

12,488

5,147
568
0
0

850
1,306
0
0

227
(119)
0
0

(42,626)
1,151
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

740,451

712,913

631,371

765,745

734,021

696,299

1,401,517

1,435,404

1,336,828

822,277

0
816,687

0
819,230

732,692
37,808

709,033
34,366

631,371
33,138

765,745
9,265

723,526
40,885

688,533
37,891

7,759

3,880

0
0

0
0

414,600

399,889

357,883

203,584

10,495
159,358

7,766
104,052

1,826

1,916

5,630

1,696

463

1,412

276,702
34,623

298,516
35,592

251,317
20,054

114,473
14,684

74,852
26,223

27,061
19,874

0
101,449

0
63,865

0
80,882

0
72,731

0
57,820

0
55,706

549,775
419,191

502,008
372,659

576,484
298,409

339,371
135,106

309,311
140,464

238,244
112,303

130,584
262,310

129,349
321,931

278,075
340,689

204,265
494,390

168,847
547,022

125,941
562,507

443,456

421,689

38,564
0

38,564
0

262,310

321,931

340,689

494,390

5,224
59,779

6,204
96,051

342,966
221,052

288,863
221,052

72,081
221,052

135,568
221,052

37,046
221,052

(400)
221,052

221,052
0
121,914

221,052
0
67,811

221,052
0
(148,971)

221,052
0
(85,484)

221,052
0
(533,396)
0
(533,396)

221,052
0
(558,079)
0
(558,079)

349,389

336,627

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

261,679
240,158
21,521
286,394
63,354
223,040
(24,715)
14,886
4,918
9,968

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

30,427

39,143

59,336

39,463

(30,399)
3,486
0
0

(87,461)
4,806
0
0

(145,658)
3,705
0
0

(149,917)
2,670
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,422,650

1,454,173

1,389,831

1,297,346

1,268,908

1,438,592

1,469,855

1,559,119

1,568,000

1,528,241

0
1,528,615

0
1,768,012

1,422,650
40,877

1,454,173
58,095

1,389,831
73,223

1,297,346
63,858

1,246,055
58,082

1,432,623
53,224

0
0

0
0

745,332

912,862

945,398

1,035,925

22,853
710,077

5,969
489,164

691

8,384

946

6,159

7,603

803

603,940
89,943

664,718
118,423

640,473
147,757

692,566
176,425

431,950
147,557

284,075
85,861

0
50,758

0
121,337

0
156,222

0
160,775

0
122,967

0
118,425

867,121
620,421

1,180,730
806,254

1,312,944
723,514

1,441,696
767,108

1,483,010
904,418

905,679
411,506

246,700
300,141

374,476
221,906

589,430
157,883

674,588
106,292

578,592
133,603

494,173
875,357

43,988

748,864

80,000
0

80,000
0

300,141

221,906

157,883

106,292

9,615
0

46,493
0

1,000,720
188,892

964,399
188,892

864,402
188,892

785,283
188,892

362,372
188,892

146,720
188,892

188,892
0
811,828

188,892
0
775,507

188,892
0
675,510

188,892
0
596,391

188,892
0
(614,538)
42,749
(657,287)

188,892
0
(1,040,860)
42,749
(1,083,609)

788,018

998,688

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

1,101,670
318,167
783,503
1,293,848
504,768
789,080
(192,178)
135,194
59,701
75,493

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

89,813

139,629

164,379

156,762

440
4,676
0
0

(34,201)
8,149
0
0

(89,762)
12,577
0
0

(106,378)
12,268
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

69,127

65,212

65,114

60,643

64,872

60,971

148,890

149,948

151,329

65,280

6,835
154,849

6,835
154,849

69,127
4,005

65,212
4,972

65,114
4,716

60,643
4,577

56,328
4,492

52,284
4,044

0
0

0
0

34,546

40,044

47,396

39,338

1,709
22,698

1,852
18,127

195

704

2,502

314

611

424

4,904
24,481

4,197
27,458

0
3,207

0
26,493

0
18,442

0
15,417

0
4,966

0
7,685

0
41,687

0
12,531

0
3,645

0
2,286

113,361
65,610

124,346
69,908

105,425
42,499

108,172
42,500

94,481
42,904

86,562
40,410

47,751
6,910

54,438
0

62,926
1,279

65,672
0

51,576
7,516

46,151
6,213

1,297

738

4,814
0

4,814
0

6,910

1,279

1,406
0

660
0

(16,598)
27,000

(19,090)
27,000

5,806
54,000

(8,191)
54,000

(14,427)
54,000

(13,676)
54,000

27,000
0
(43,598)

27,000
0
(46,090)

54,000
0
(48,194)

54,000
0
(62,191)

54,000
0
(86,029)
0
(86,029)

54,000
0
(84,216)
0
(84,216)

17,602

16,540

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

51,564
51,564
0
48,658
16,801
31,857
2,906
3,642
45
3,597

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

22,455

7,881

11,305

8,559

(31,821)
209
0
0

(2,917)
386
0
0

195,337
479
0
0

(12,845)
426
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

88,751

85,405

77,211

69,870

78,466

72,516

207,873

214,056

214,104

214,104

0
214,104

0
214,104

88,193
6,370

85,320
9,055

77,211
8,157

69,870
7,341

77,319
6,608

71,369
5,950

558

85

0
0

0
0

48,104

65,903

66,459

43,790

1,147
3,094

1,147
2,314

196

201

85

43

40

25

26,550
12,547

9,980
31,301

12,006
31,559

0
27,519

0
1,661

0
911

0
8,811

0
24,421

0
22,809

0
16,228

0
1,393

0
1,378

39,413
4,070

47,602
4,071

40,600
300

26,699
0

23,825
0

23,809
0

35,343
5,250

43,531
2,250

40,300
695

26,699
0

23,825
0

23,809
0

0
0

0
0

5,250

2,250

695

0
0

0
0

92,192
145,000

101,456
145,000

102,375
145,000

86,961
145,000

57,736
145,000

51,021
145,000

145,000
0
(52,808)

145,000
0
(43,544)

145,000
0
(42,625)

145,000
0
(58,039)

145,000
0
(87,264)
0
(87,264)

145,000
0
(93,979)
0
(93,979)

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

0
0
0
0
0
0
0
29,225
0
29,225

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

3,509

5,196

4,445

1,725

(21,247)
825
0
0

5,449
1,501
0
0

2,685
1,056
0
0

93,691
60
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

268,434

252,797

241,304

234,807

229,536

229,248

607,568

618,565

629,845

646,907

0
664,066

0
668,023

268,434
21,492

252,797
27,304

241,304
26,234

234,807
24,705

228,041
24,558

227,753
22,487

0
0

0
0

441,437

391,872

282,303

411,778

1,495
396,091

1,495
527,067

178,159

44,787

35,378

6,599

27,250

7,446

118,975
65,068

275,992
27,392

182,366
17,636

352,960
13,181

290,197
32,628

441,494
26,436

0
79,235

0
43,701

0
46,923

0
39,038

0
46,016

0
51,692

473,162
146,649

357,645
166,610

246,264
48,876

339,683
151,887

301,933
121,586

348,369
54,958

326,513
2,592

191,035
0

197,388
0

187,796
6,972

180,346
32,519

293,411
34,369

0
0

0
0

2,592

6,972

3,852
28,668

5,695
28,674

234,117
147,000

287,024
147,000

277,343
147,000

299,930
147,000

291,175
147,000

373,577
147,000

147,000
0
87,117

147,000
0
140,024

147,000
0
130,343

147,000
0
152,930

147,000
0
144,175
0
144,175

147,000
0
226,577
0
226,577

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

1,156,970
1,156,970
0
1,089,125
732,469
356,656
67,846
39,318
384
38,934

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

28,206

31,531

34,152

41,705

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

409,440

519,394

512,549

484,748

443,859

443,859

653,589

809,325

846,049

869,459

0
878,644

0
878,644

409,440
29,596

519,394
45,782

512,549
51,967

484,748
49,395

443,054
46,084

443,054
46,084

0
0

0
0

526,200

439,698

370,574

601,674

805
451,943

805
451,943

4,844

1,475

1,388

871

932

932

332,506
142,487

229,122
120,528

137,062
177,803

376,331
168,904

287,024
105,901

287,024
105,901

0
46,363

1,446
87,127

0
54,321

0
55,568

7,864
50,222

7,864
50,222

469,416
411,002

464,114
402,189

507,783
356,728

747,067
633,466

581,968
479,997

581,968
479,997

58,414
126,433

61,925
159,443

151,055
89,616

113,601
78,152

101,971
44,549

101,971
44,549

9,571

9,571

0
0

0
0

126,433

159,443

89,616

78,152

8,630
26,348

8,630
26,348

339,791
120,150

335,535
120,150

285,724
120,150

261,203
120,150

269,284
120,150

269,284
120,150

120,150
0
219,641

120,150
0
215,385

120,150
0
165,574

120,150
0
141,053

120,150
0
149,134
15,575
133,559

120,150
0
149,134
15,575
133,559

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

1,628,484
880,168
748,316
1,472,229
992,553
479,676
156,256
50,904
12,880
38,023

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

20,283

36,275

37,767

35,907

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,452,856

1,550,707

600,722

547,022

681,104

754,338

2,429,041

2,641,271

1,291,270

1,256,785

4,623
1,278,155

760
1,370,989

1,452,856
93,791

1,550,707
149,551

600,722
64,187

547,022
59,553

512,635
55,442

553,831
56,234

0
162,155

0
198,126

1,049,816

1,104,610

609,844

641,087

1,691
609,035

1,621
501,502

119,333

184,875

8,426

2,045

4,887

1,774

581,146
131,580

567,280
214,308

185,147
166,331

282,318
143,312

338,033
156,798

403,275
62,142

26,578
191,179

24,680
113,467

152,707
97,233

159,949
53,463

0
109,318

0
34,312

880,827
583,784

982,094
790,266

403,006
199,621

475,013
322,778

585,487
477,728

333,443
159,026

297,043
701,363

191,828
726,019

203,385
246,583

152,235
308,776

107,758
290,923

174,417
260,157

156,597

203,233

60,000
2,832

0
2,832

701,363

726,019

246,583

308,776

17,791
53,704

19,546
34,547

920,482
307,930

947,204
307,930

560,977
307,930

404,320
187,000

413,728
187,000

662,240
187,000

187,000
120,930
612,552

187,000
120,930
639,274

187,000
120,930
253,047

187,000
0
217,320

187,000
0
224,895
256,898
(32,003)

187,000
0
473,407
256,899
216,508

1,833

1,833

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

2,158,571
1,249,702
908,868
1,941,715
1,429,330
512,385
216,856
110,083
57,315
52,768

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

92,773

110,659

71,400

77,119

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,349,560

1,680,230

1,648,513

1,365,223

1,547,133

1,486,821

1,962,936

2,561,387

2,651,261

2,312,626

41,491
2,471,670

61,977
2,407,720

1,349,560
97,356

1,680,230
134,551

1,648,513
143,871

1,365,223
110,601

1,502,604
103,755

1,421,863
92,770

0
10

0
10

1,075,072

1,086,405

540,795

823,390

3,028
901,469

2,971
905,477

12,196

4,737

6,226

213,721

211,377

11,020

745,140
126,782

694,993
80,201

259,165
81,092

283,294
50,100

263,997
271,323

379,520
391,473

0
190,954

0
306,474

0
194,312

10
276,265

0
154,773

0
123,464

1,429,468
1,082,029

1,563,116
1,190,586

1,556,091
481,355

1,371,616
301,618

641,110
411,815

588,214
359,123

347,439
510,487

372,530
348,448

1,074,736
595,595

1,069,998
578,822

229,295
486,014

229,092
335,895

486,014

335,895

0
0

0
0

510,487

348,448

595,595

578,822

0
0

0
0

484,677
242,070

855,071
338,899

37,622
338,898

238,175
338,898

1,321,479
748,966

1,468,190
1,175,876

242,070
0
242,607

338,899
0
516,172

338,898
0
(301,276)

338,898
0
(100,723)

748,966
0
(21,047)
638,755
(659,802)

1,175,876
0
(275,747)
215,250
(490,997)

593,560

568,060

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

1,749,088
204,456
1,544,631
1,500,444
719,181
781,263
248,644
186,941
112,719
74,222

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

109,150

146,492

135,021

149,956

165
11,500
251
8,590

(74,978)
21,000
0
0

(481,817)
16,000
0
0

(92,933)
12,750
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

127,437

123,019

103,508

99,951

97,871

91,925

450,918

450,918

450,918

450,918

0
8,701

0
8,701

111,891
4,482

107,473
4,418

103,508
3,964

99,951
3,557

95,338
3,194

89,542
5,945

15,546

15,546

0
0

0
0

32,484

38,520

29,552

29,383

2,533
25,726

2,383
25,675

1,928

633

258

194

244

184

12,124
3,621

15,117
3,645

1,273
3,090

1,117
4,792

1,117
3,248

1,117
3,248

1,730
13,081

599
18,526

944
23,987

588
22,692

0
21,117

0
21,127

118,387
16,590

65,092
11,355

152,643
10,000

165,064
10,000

30,943
19,678

31,408
19,678

101,797
106,709

53,737
74,509

142,643
70,210

155,064
60,532

11,265
191,234

11,730
189,190

191,234

189,190

0
0

0
0
0
0

106,709

74,509

70,210

60,532

0
0

(65,175)
230,000

21,938
230,000

(89,793)
230,000

(96,262)
230,000

(98,580)
230,000

(102,998)
230,000

230,000
0
(295,175)

230,000
0
(208,062)

230,000
0
(319,793)

230,000
0
(326,262)

230,000
0
(328,580)
(2,632)
(325,947)

230,000
0
(332,998)
(2,633)
(330,364)

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

0
0
0
0
0
0
0
7,967
0
7,967

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

6,464

9,432

2,356

7,119

14,088
785
0
0

12,120
979
0
0

(19,141)
(15,832)
0
0

(6,112)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,778,294

6,903,335

6,544,227

6,259,570

15,149,987

24,031,925

7,647,290

9,211,220

9,299,224

9,595,457

9,162,761
1,319

18,349,251
1,319

5,778,294
256,034

6,903,335
530,792

6,544,227
661,390

6,259,570
626,330

5,981,577
518,566

5,669,936
537,714

923
0

7,905
0

2,469,289

2,561,843

3,211,056

4,578,546

4,726
4,659,457

4,833
10,398,218

37,366

10,940

60,671

18,246

34,179

1,651,997

1,330,388
335,844

1,572,827
542,878

1,799,902
842,113

2,447,463
134,338

2,183,104
1,516,729

3,472,226
3,251,175

6,150
759,541

0
435,198

0
508,370

211,733
1,766,766

0
925,446

131,890
1,890,930

2,790,559
2,425,898

3,263,316
2,856,063

4,084,958
2,623,592

5,646,893
3,190,716

6,051,867
5,179,786

10,755,625
8,445,884

364,661
2,780,833

407,253
3,413,020

1,461,366
2,984,127

2,456,177
2,591,029

872,081
10,297,942

2,309,741
17,721,442

10,296,390

17,721,442

0
0

0
0

2,780,833

3,413,020

2,984,127

2,591,029

0
1,552

0
0

2,676,191
683,644

2,788,842
752,008

2,686,198
752,008

2,600,194
752,008

3,459,636
1,240,814

5,953,076
1,654,418

683,644
0
1,992,547

752,008
0
2,036,834

752,008
0
1,934,190

752,008
0
1,848,186

827,209
413,605
2,218,822
361,894
1,856,928

1,585,527
68,892
4,298,658
1,540,328
2,758,330

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

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

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

299,317

367,887

286,580

315,397

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

9,152,949

10,611,353

10,586,159

11,470,608

23,217,848

34,449,386

14,500,105

16,535,153

16,923,939

18,767,115

97,280
19,436,889

365,662
20,681,208

9,151,096
600,252

10,611,353
797,881

10,586,159
975,163

11,470,608
1,071,665

11,102,355
1,116,931

11,476,005
1,099,682

1,853

0
11,993,998

0
22,092,093

11,879,897

20,567,973

28,794,458

28,806,681

24,215
8,294,838

515,626
11,732,928

520,999

50,250

69,607

76,549

111,494

110,585

3,322,219
877,358

3,003,174
1,026,884

3,106,436
831,653

4,163,194
1,387,146

4,092,512
1,300,366

6,060,441
2,041,256

6,286,951
872,370

15,143,172
1,344,493

15,466,506
9,320,256

21,825,276
1,354,516

1,414,310
1,376,156

1,554,543
1,966,103

6,253,333
4,953,084

7,051,533
5,658,479

7,649,373
5,018,664

12,463,307
10,367,499

9,602,265
7,775,913

10,568,415
7,778,079

1,300,249
2,858,155

1,393,054
3,015,384

2,630,709
1,773,820

2,095,808
1,321,912

1,826,352
2,579,654

2,790,336
4,237,586

2,334,411

2,980,694

0
0

0
0

2,858,155

3,015,384

1,773,820

1,321,912

0
245,243

0
1,256,892

11,921,358
1,452,597

21,112,409
1,452,597

29,957,424
1,597,857

26,492,070
1,597,857

19,330,767
2,424,827

31,376,313
3,515,999

1,452,597
0
10,468,761

1,452,597
0
19,659,812

1,597,857
0
28,359,567

1,597,857
0
24,894,213

2,424,827
0
16,905,940
2,627,004
14,278,936

3,515,999
0
27,860,314
11,150,882
16,709,432

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

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

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

756,264

1,007,167

1,340,738

1,550,535

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,280,825

1,453,467

1,477,121

1,680,317

2,066,254

2,005,034

1,650,902

1,881,453

1,959,642

2,218,754

0
2,105,877

0
2,112,194

1,280,825
44,448

1,453,467
64,581

1,477,121
61,212

1,680,317
60,080

1,999,995
63,543

1,951,755
60,250

0
0

0
0

832,476

767,175

777,716

771,373

66,260
711,327

53,279
611,697

16,988

6,054

6,921

2,160

1,706

3,757

528,891
163,626

466,309
146,119

484,732
134,795

408,813
133,372

415,973
160,448

203,057
110,579

0
122,971

0
148,693

0
151,268

44,666
182,362

0
133,200

0
294,304

1,244,643
835,654

1,197,831
781,933

958,044
592,570

1,074,409
526,862

1,666,160
1,031,007

1,370,909
763,096

408,989
380,147

415,898
416,338

365,474
523,380

547,547
444,497

635,152
343,533

607,813
584,410

285,621

527,609

54,980
0

53,265
0

380,147

416,338

523,380

444,497

2,932
0

3,535
0

488,511
24,000

606,473
24,000

773,413
120,000

932,784
120,000

767,888
120,000

661,412
120,000

24,000
0
464,511

24,000
0
582,473

120,000
0
653,413

120,000
0
812,784

120,000
0
(468,944)
44,666
(513,609)

120,000
0
(565,390)
44,666
(610,056)

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

1,116,832

1,106,803

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

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

42,711

65,735

79,912

82,591

13,539
8,955
0
0

19,698
20,688
0
0

(21,795)
24,006
0
0

(243)
14,284
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

181,346

176,686

181,507

168,666

121,448

89,285

478,568

490,991

515,194

518,567

0
518,567

0
462,687

181,346
19,020

176,214
18,375

181,507
19,142

168,666
17,380

117,879
14,747

87,294
8,411

472

0
0

0
0

234,675

170,410

154,785

111,220

3,569
53,203

1,991
46,010

4,594

7,094

6,296

5,456

613

564

153,660
39,264

73,545
16,720

64,518
19,116

12,824
42,137

5,660
2,918

0
2,918

0
37,157

0
73,051

0
64,855

0
50,803

0
44,012

0
42,528

335,461
155,761

314,101
113,642

138,247
51,759

307,360
13,410

31,532
9,432

12,443
0

179,700
39,112

200,459
15,703

86,488
195,530

293,950
10,180

22,100
233,685

12,443
234,158

39,112

15,703

195,530

41,448
108,040

17,292
108,040

108,040
0
(66,592)

233,685
0

234,158
0

10,180

0
0

0
0

2,515
108,040

(37,654)
108,040

(90,566)
108,040

(111,306)
108,040

108,040
0
(90,748)

108,040
0
(105,525)

108,040
0
(145,694)

108,040
0
(198,606)
0
(198,606)

108,040
0
(219,346)
0
(219,346)

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

245,373
245,373
0
280,812
212,252
68,560
(35,440)
12,074
106
11,968

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

12,092

15,155

15,664

14,366

8,977
2,415
0
0

(9,189)
3,231
0
0

(21,165)
(3,338)
0
0

(34,115)
3,194
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

811,984

808,483

772,516

781,892

1,203,979

1,218,437

1,155,260

1,260,874

1,300,486

1,336,127

945
1,384,620

3,266
1,423,359

811,984
41,801

808,483
71,877

772,516
71,390

781,892
43,345

759,398
43,048

760,143
42,279

0
436,488

0
448,247

907,898

1,442,113

1,658,935

2,080,182

7,149
1,746,719

6,781
1,966,189

57,738

38,445

48,892

74,635

60,141

61,649

462,349
177,265

523,765
190,081

702,442
258,659

1,192,148
237,834

1,259,506
274,452

1,329,317
353,170

80,999
129,547

519,589
170,233

421,377
227,565

420,819
154,746

2,145
150,475

0
222,052

716,617
605,990

933,039
804,718

1,487,105
937,445

1,875,410
1,158,306

1,810,199
1,484,039

1,948,177
1,533,409

110,627
575,800

128,321
423,294

549,660
216,964

717,104
233,509

326,160
352,496

414,768
340,409

108,650

85,058

283,702

180,599

175,000
0

175,000
0

292,098

242,695

216,964

233,509

30,592
38,254

38,869
41,482

427,465
105,000

894,263
110,250

727,382
121,275

753,155
133,403

788,003
143,408

896,040
157,748

105,000
0
322,465

110,250
0
784,013

121,275
0
606,107

133,403
0
619,752

143,408
0
574,425
15,400
559,025

157,748
0
668,121
15,400
652,721

70,171

70,171

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

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

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

36,867

102,331

120,381

136,110

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

593,113

623,028

643,434

637,081

587,528

572,824

819,724

932,106

942,079

1,028,793

0
1,074,008

0
1,107,677

593,113
36,438

623,028
62,043

643,434
65,355

637,081
64,877

586,675
61,537

571,982
60,481

0
0

0
0

1,006,887

610,111

609,382

911,145

853
821,259

843
907,565

1,387

1,108

2,457

2,806

2,220

5,898

609,184
339,220

315,772
227,682

238,924
299,225

347,564
481,520

323,290
444,457

303,337
528,177

0
57,096

0
65,549

0
68,776

0
79,255

0
51,292

0
70,153

1,085,059
976,718

770,191
622,538

815,381
582,335

1,039,662
825,585

856,671
764,765

847,658
672,269

108,341
226,413

147,653
238,798

233,046
218,772

214,077
284,450

91,906
331,320

175,389
224,928

248,184

105,000

40,000
0

40,000
0

226,413

238,798

218,772

284,450

4,689
38,447

6,368
73,561

288,528
61,630

224,150
61,630

218,663
61,630

224,114
61,630

220,795
61,630

407,802
61,630

61,630
0
226,898

61,630
0
162,520

61,630
0
157,033

61,630
0
162,484

61,630
0
145,222
0
145,222

61,630
0
333,759
0
333,759

13,944

12,413

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

2,113,500
2,093,782
19,718
1,899,248
1,560,082
339,166
214,252
41,100
16,401
24,699

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

24,948

35,740

34,973

39,839

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

994,881

998,225

1,053,786

1,021,502

925,767

844,624

1,523,849

1,628,874

1,788,209

1,859,778

0
1,859,395

0
1,863,250

994,881
42,596

998,225
102,253

1,053,786
103,785

1,021,502
106,898

925,210
98,762

844,400
90,027

0
0

0
0

497,485

424,681

519,031

535,777

557
622,035

225
669,145

53,447

2,612

43,748

8,998

6,335

80,171

190,707
136,447

170,338
126,080

264,956
131,417

296,829
145,830

154,236
159,256

409,863
103,188

7,000
109,884

0
125,651

0
78,910

0
84,120

0
302,207

0
75,923

519,480
429,074

501,697
317,278

594,250
238,782

468,313
96,555

387,065
197,242

501,819
294,786

90,406
635,556

184,419
527,200

355,468
579,863

371,758
754,703

189,823
749,097

207,033
509,950

645,345

382,623

90,000
0

90,000
0

635,556

527,200

579,863

754,703

4,441
9,312

4,220
33,108

337,330
168,000

394,009
168,000

398,704
184,800

334,263
184,800

411,639
184,800

502,000
184,800

168,000
0
169,330

168,000
0
226,009

184,800
0
213,904

184,800
0
149,463

184,800
0
189,656
16,600
173,056

184,800
0
280,017
16,600
263,417

37,183

37,183

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

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

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

48,227

58,509

55,743

97,900

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

456,563

583,253

543,183

507,940

555,658

600,393

697,834

860,184

864,087

868,069

6,815
948,451

0
1,031,834

456,563
26,332

583,253
35,437

543,183
45,554

507,940
41,927

546,678
42,950

598,228
43,458

0
0

0
0

268,787

352,999

307,112

390,466

2,165
389,422

2,165
378,775

1,798

1,645

617

1,005

1,920

1,148

184,332
60,387

224,700
77,630

179,730
74,522

228,413
103,604

180,477
178,363

175,931
155,567

0
22,270

0
49,024

0
52,243

0
57,444

0
28,663

0
46,129

276,584
216,774

476,596
371,517

368,305
260,876

394,030
293,851

385,648
340,254

359,382
210,693

59,810
91,623

105,079
59,793

107,429
90,915

100,179
115,619

45,395
172,682

148,689
102,006

35,400

11,800

0
0

0
0

91,623

59,793

90,915

115,619

67,220
70,062

82,804
7,402

357,143
159,778

399,863
159,778

391,075
159,778

388,757
159,778

386,750
159,778

517,780
159,778

159,778
0
197,365

159,778
0
240,085

159,778
0
231,297

159,778
0
228,979

159,778
0
82,585
0
82,585

159,778
0
165,107
0
165,107

144,387

192,896

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

1,220,867
932,960
287,907
1,106,377
835,613
270,764
114,490
34,783
18,310
16,473

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

19,226

22,448

21,983

20,587

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,475,189

3,069,764

3,432,131

4,119,622

5,054,660

4,955,743

3,802,860

4,645,219

5,066,776

6,184,240

117,383
7,294,131

136,121
7,431,304

2,475,189
130,519

3,069,764
248,104

3,432,131
151,472

4,119,622
178,496

4,871,288
211,072

4,775,130
233,820

0
48,486

0
26,988

1,914,589

2,107,806

2,229,078

3,393,615

17,504
3,857,386

17,504
3,552,358

9,301

6,724

5,733

2,855

3,113

3,219

1,109,023
220,787

1,210,439
356,123

1,103,997
376,336

2,074,552
555,620

2,229,194
886,019

2,269,204
524,062

57,362
518,116

83,393
451,127

2,011
741,001

132,289
628,299

0
739,060

0
755,874

2,317,214
1,651,442

2,887,080
2,179,153

2,810,376
1,387,288

4,647,636
2,735,891

4,408,999
4,107,244

4,069,031
3,684,405

665,772
1,422,649

707,927
1,589,721

1,423,088
2,118,140

1,911,745
2,451,698

301,754
3,226,916

384,626
2,138,781

2,123,703

1,743,355

773,162
0

23,900
0

1,422,649

1,589,721

2,118,140

2,451,698

59,491
270,561

67,762
303,764

649,915
31,250

700,769
31,250

732,693
31,250

413,903
31,250

1,276,131
31,250

2,300,289
130,000

31,250
0
618,665

31,250
0
669,519

31,250
0
701,443

31,250
0
382,653

31,250
0
458,943
0
458,943

130,000
0
1,406,725
651,750
754,975

785,938

763,564

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

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

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

531,160
830,513
822,916
98,968
37,317
0
0
(400,422)

619,024
962,309
955,825
375,592
75,307
26,000
0
833,903

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

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)

4,503,047
2,123,703
61,651
6,230,947

4,439,070
1,743,355
274,285
5,427,760

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

274,685

262,273

187,802

326,452

301,994

286,530

372,125

293,300

262,273

336,927

1,329
347,737

64
352,455

274,685
7,885

262,273
13,715

187,802
13,774

326,452
12,128

300,422
17,535

286,223
18,924

0
0

0
0

111,285

127,117

13,425

56,427

243
135,028

243
117,893

109

411

167

3,904

2,059

446

89,688
1,878

78,587
3,049

604
133

23,920
3,632

51,211
7,871

40,202
57,170

0
19,610

0
45,070

0
12,521

0
24,971

0
73,888

0
20,076

137,538
83,244

211,208
94,315

142,237
17,956

207,378
0

134,431
87,705

142,467
80,148

54,294
60,602

116,893
32,031

124,281
54,552

207,378
32,334

46,726
62,459

62,319
57,526

60,602

32,031

54,552

187,830
70,380

146,151
70,380

70,380
0
117,450

26,155
0

26,155
0

32,334

2,840
33,464

2,080
29,291

4,438
70,380

143,167
70,380

240,133
250,000

204,430
250,000

70,380
0
75,771

70,380
0
(65,942)

70,380
0
72,787

250,000
0
(174,866)
0
(174,866)

250,000
0
(205,957)
0
(205,957)

164,999

160,387

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

316,778
316,778
0
347,095
239,347
107,748
(30,317)
11,180
954
10,226

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

10,999

17,128

36,873

10,945

(17,356)
1,592
0
0

(29,844)
2,245
0
0

(63,844)
1,416
0
0

4,561
63
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

925,141

925,141

974,084

899,641

900,558

874,853

1,241,771

1,241,771

1,557,186

1,232,636

0
1,286,050

0
1,303,395

925,141
35,128

925,141
35,128

974,084
40,911

899,641
45,499

896,020
44,506

869,167
44,552

0
39

0
71

319,187

319,187

416,353

533,124

4,500
537,277

5,615
478,770

188

188

744

22,630

3,323

4,254

164,113
84,779

164,113
84,779

186,794
88,052

209,422
130,668

204,131
190,191

210,643
150,353

0
70,107

0
70,107

55
140,708

2,803
167,601

0
139,633

0
113,521

322,332
155,430

322,332
155,430

743,885
42,231

816,618
75,989

278,243
113,226

197,882
82,272

166,902
71,236

166,902
71,236

701,654
114,333

740,629
73,979

165,017
624,239

115,610
613,205

71,236

71,236

114,333

850,760
212,926

850,760
212,926

212,926
0
637,834

3,244

576,714
0

579,181
0

73,979

5,736
38,546

5,006
29,018

532,219
212,926

542,168
492,926

535,354
492,926

542,536
492,926

212,926
0
637,834

212,926
0
319,293

492,926
0
49,242

492,926
0
(167,573)
(8)
(167,565)

492,926
0
(153,817)
16
(153,833)

210,001

203,427

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

1,035,884
999,307
36,577
994,356
735,408
258,949
41,528
16,838
4,334
12,504

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

12,582

12,582

25,358

21,220

47,995
2,315
0
0

47,995
2,315
0
0

471
3,128
0
0

(43,627)
4,777
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

147,886

165,331

177,421

169,545

178,231

169,531

303,231

329,389

350,229

346,297

78
347,358

3,802
348,083

147,886
4,789

165,331
8,712

177,421
8,869

169,545
9,076

162,282
8,324

155,475
7,532

0
5,910

0
6,818

57,477

68,150

85,436

98,682

9,961
56,662

3,436
85,891

440

1,257

1,681

3,002

486

6,897

19,203
27,694

17,749
3,192

30,238
3,424

27,432
27,712

3,398
23,481

16,116
26,772

0
10,140

0
45,952

4,554
45,539

5,184
35,352

0
29,297

0
36,106

45,496
0

198,231
6,304

213,962
31,278

222,908
53,185

53,007
19,734

64,139
17,053

45,496
7,715

191,927
16,792

182,684
15,718

169,723
11,649

33,274
166,416

47,086
160,878

7,715

16,792

15,718

152,152
47,587

18,458
47,587

47,587
0
104,565

11,416

5,878

155,000
0

155,000
0

11,649

0
0

0
0

33,177
47,587

33,670
47,587

15,470
47,587

30,405
47,587

47,587
0
(29,129)

47,587
0
(14,410)

47,587
0
(13,917)

47,587
0
(119,366)
908
(120,274)

47,587
0
(104,348)
908
(105,256)

87,250

87,167

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

274,758
274,758
0
283,098
175,793
107,305
(8,340)
3,464
132
3,332

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

1,422

2,493

2,617

3,395

4,730
337
0
0

16,317
1,011
2,379
0

13,059
1,168
0
0

3,477
1,407
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

464,715

521,868

495,141

495,141

591,540

786,002

785,984

908,910

924,711

924,711

0
999,990

0
1,162,437

464,715
29,414

521,868
49,213

495,141
50,340

495,141
50,340

470,702
46,298

589,377
45,990

0
117,829

0
192,573

629,362

534,445

559,000

559,000

3,008
903,572

4,052
955,222

9,584

3,741

7,029

7,029

8,846

3,115

314,814
224,604

303,659
173,231

314,634
198,365

314,634
198,365

594,491
240,620

728,213
142,487

0
80,360

0
53,814

0
38,972

0
38,972

0
59,614

0
81,407

601,293
520,575

501,796
424,498

525,354
372,990

525,354
372,990

833,363
710,563

841,600
690,812

80,718
100,000

77,298
160,000

152,364
80,000

152,364
80,000

122,800
26,338

150,788
112,815

75,000

0
0

0
0

100,000

160,000

80,000

80,000

19,702
6,636

24,406
13,409

392,784
102,920

394,517
102,920

448,787
102,920

448,787
102,920

635,409
102,920

786,809
102,920

102,920
0
289,864

102,920
0
291,597

102,920
0
345,867

102,920
0
345,867

102,920
0
532,489
0
532,489

102,920
0
683,889
0
683,889

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

1,544,923
306,469
1,238,453
1,232,407
882,067
350,340
312,516
114,620
84,823
29,796

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

11,879

15,924

20,501

20,501

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,036,093

1,963,229

1,818,923

1,808,375

2,320,703

2,353,261

2,726,044

2,808,667

2,862,630

2,932,449

11,915
3,576,660

12,220
3,709,060

2,036,093
88,233

1,963,229
188,289

1,817,889
2,427

1,807,456
174,510

2,272,586
87,061

2,322,905
92,531

1,034

919

804
0

689
0

1,356,670

1,382,110

1,611,087

2,311,575

35,398
1,806,018

17,448
1,928,688

8,314

32,572

41,794

75,672

18,233

36,074

787,040
204,540

746,644
229,707

772,398
157,754

1,343,145
334,841

1,124,587
198,108

962,681
365,827

0
356,776

70,523
302,664

70,000
569,141

0
557,917

179,681
285,408

225,924
338,182

1,610,131
1,333,206

1,984,785
1,298,483

1,613,761
1,336,647

2,778,101
2,261,986

2,290,148
2,020,191

2,326,607
2,003,537

276,925
1,026,041

686,302
523,483

277,114
937,333

516,115
573,426

269,957
792,918

323,070
465,905

645,980

415,179

42,857

137,000
0

37,000
0

983,184

523,483

937,333

573,426

9,938
0

13,726
0

756,591
246,488

837,071
246,488

878,916
308,109

768,423
308,109

1,043,655
308,109

1,489,438
308,109

246,488
0
510,103

246,488
0
590,583

308,109
0
570,807

308,109
0
460,314

308,109
0
283,275
41,081
242,193

308,109
0
729,058
83,712
645,346

452,271

452,271

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

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

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

73,297

97,038

106,002

145,699

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

752,186

775,051

769,906

882,840

824,910

910,812

790,968

852,444

909,293

1,089,771

0
1,099,190

8,631
962,156

752,186
28,095

775,051
50,466

769,906
69,873

882,840
66,477

821,228
72,095

898,508
65,999

0
0

0
0

240,248

273,030

270,281

286,314

3,683
355,896

3,673
373,256

720

2,794

4,962

3,951

5,623

27,438

209,776
9,714

171,603
11,866

186,504
25,865

226,322
9,893

288,971
23,659

249,702
45,371

0
20,038

0
86,767

0
52,950

0
46,148

0
37,642

0
50,745

236,379
187,682

348,618
253,655

354,805
185,704

341,347
152,862

420,836
308,065

207,820
110,816

48,697
296,791

94,963
279,912

169,101
302,652

188,485
432,739

112,772
379,651

97,004
432,278

355,882

268,422

0
0

0
0

296,791

279,912

302,652

432,739

4,010
19,759

8,062
155,794

459,264
245,178

419,551
245,178

382,730
300,000

395,068
360,000

380,318
360,000

643,970
360,000

245,178
0
214,086

245,178
0
174,373

300,000
0
82,730

360,000
0
35,068

360,000
0
(69,104)
0
(69,104)

360,000
0
110,821
0
110,821

89,422

173,150

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

1,542,141
1,520,321
21,819
1,419,120
1,086,537
332,583
123,021
29,174
7,990
21,184

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

23,630

15,847

15,315

17,282

21,445
1,449
0
0

(6,333)
5,219
0
0

(31,191)
6,345
0
0

(54,366)
6,548
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

574,639

628,999

988,503

1,148,843

1,111,024

1,067,201

810,801

891,350

1,233,669

1,169,496

4,480
1,169,612

0
1,176,558

574,639
23,607

628,999
30,290

988,503
32,416

1,148,843
45,689

1,098,847
50,348

1,059,407
47,633

0
0

0
0

166,412

253,473

284,419

359,874

7,697
359,702

7,794
476,994

16,728

3,018

15,494

2,534

954

2,396

102,284
17,046

146,355
17,719

93,754
39,052

198,687
34,215

223,721
17,775

331,278
13,478

0
30,354

0
86,381

0
136,119

0
124,438

0
117,252

0
129,842

328,806
128,395

278,562
225,811

584,291
176,752

603,275
251,398

343,619
214,974

366,221
214,442

200,411
37,806

52,751
158,518

407,539
326,982

351,877
279,855

128,645
601,461

151,779
642,935

414,355

424,125

169,581
0

182,220
0

37,806

158,518

326,982

279,855

1,393
16,133

3,103
33,487

374,439
98,000

445,392
196,000

361,649
196,000

625,587
392,000

525,646
392,000

535,040
392,000

98,000
0
276,439

196,000
0
249,392

196,000
0
165,649

392,000
0
233,587

392,000
0
(281,322)
3,240
(284,562)

392,000
0
(259,041)
3,240
(262,281)

414,969

402,080

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

856,602
800,064
56,538
830,094
617,520
212,574
26,508
31,544
15,599
15,945

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

15,358

22,198

23,807

28,866

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

36,045

41,979

51,793

60,243

50,645

52,680

52,820

61,906

73,917

86,485

0
84,074

0
90,074

36,045
1,762

41,699
3,497

51,570
3,660

60,065
4,824

50,502
5,476

52,566
5,515

280

223

178

143
0

114
0

28,080

31,543

82,121

88,056

0
126,060

0
143,833

410

296

4,287

1,061

5,582

1,349

14,204
5,289

19,922
0

69,928
0

68,641
7,737

52,522
23,128

61,463
22,529

0
8,177

0
11,325

0
7,906

0
10,617

0
44,827

0
58,492

26,762
0

31,996
0

83,830
44,290

100,117
54,331

125,006
82,555

142,464
102,411

26,762
0

31,996
1,016

39,540
329

45,786
0

42,451
0

40,052
0

0
0

0
0

1,016

329

0
0

0
0

37,363
40,000

40,510
40,000

49,755
40,000

48,182
40,000

51,699
40,000

54,050
40,000

40,000
0
(2,637)

40,000
0
510

40,000
0
9,755

40,000
0
8,182

40,000
0
11,699
0
11,699

40,000
0
14,050
0
14,050

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

395,271
101,992
293,279
350,243
219,063
131,180
45,028
35,970
8,362
27,608

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

17,365

23,862

25,390

29,374

5,578
1,354
0
0

5,236
2,088
0
0

11,903
2,658
0
0

3,943
3,516
0
91

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,797,495

2,122,031

2,302,728

2,195,285

2,428,946

2,343,422

2,448,416

2,779,601

2,824,189

3,156,565

13,070
3,149,646

24,084
3,214,564

1,784,713
130,679

2,120,349
189,292

2,302,015
150,515

2,194,375
166,923

2,200,264
157,896

2,110,011
157,180

12,782

1,682

713

910

535
0

258
0

1,261,225

1,465,859

1,879,454

2,098,124

215,077
1,571,354

209,069
2,378,726

1,902

15,026

3,154

4,892

3,206

7,104

797,442
354,084

955,583
382,206

933,599
732,669

911,516
89,203

685,765
740,173

1,368,010
775,350

24,957
82,840

30,130
82,914

0
210,032

0
1,092,513

10,019
132,191

12,466
215,796

1,335,706
1,167,264

1,704,400
1,357,271

2,097,479
1,496,385

2,435,385
1,478,612

1,889,080
1,516,214

2,867,459
2,480,994

168,442
1,018,621

347,129
981,954

601,094
1,070,597

956,773
883,642

372,866
1,611,528

386,465
1,277,508

1,170,569

805,022

405,600
0

427,100
0

1,018,621

981,954

1,070,597

883,642

34,827
532

44,780
606

704,393
189,129

901,536
189,129

1,014,106
264,129

974,382
264,129

499,692
264,129

577,181
264,129

189,129
0
515,264

189,129
0
712,407

264,129
0
749,977

264,129
0
710,253

264,129
0
53,084
115,981
(62,897)

264,129
0
141,899
115,981
25,918

182,479

171,153

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

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

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

69,056

113,228

156,688

210,563

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

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

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

0
1

0
1

144,472
7,669

0
0

0
0

0
0

0
0

0
0

0
0

0
0

9,886

120,270

247

109

109

109

141

175

152

108

108

108

947
557

0
0

0
0

0
0

0
0

0
0

5
8,236

1
120,094

1
94

0
1

0
1

0
1

190,839
72,574

332,610
95,620

67
0

110
0

110
0

110
0

118,265
143,222

236,990
0

67
180

110
186

110
186

110
186

143,222

180

186

186

186

(179,703)
74,000

(212,340)
74,000

0
74,000

(187)
74,000

(187)
74,000

(187)
74,000

74,000
0
(253,703)

74,000
0
(286,340)

74,000
0
(74,000)

74,000
0
(74,187)

74,000
0
(74,187)

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

364,472

425,240

411,438

392,108

376,960

414,697

565,199

644,977

652,110

653,874

0
653,004

0
414,723

364,472
12,958

425,240
19,010

411,438
21,422

392,108
20,607

374,318
19,516

403,134
17,432

292
0

195
0

143,767

144,782

164,266

197,250

2,350
18,928

11,369
17,018

2,122

7,108

728

4,611

1,768

1,150

92,022
32,507

104,013
21,360

101,106
34,238

123,745
31,398

0
646

0
0

0
17,116

0
12,301

0
28,194

0
37,496

8
16,506

14
15,855

243,661
138,158

250,917
108,602

346,958
125,898

354,591
179,944

225,237
188,928

23,886
0

105,503
48,000

142,315
114,614

221,060
87,574

174,647
185,749

36,309
127,510

23,886
212,371

35,869

91,566
0

199,437
0

48,000

114,614

87,574

185,749

75
0

261
12,673

216,578
212,678

204,491
212,678

141,172
212,678

49,018
212,678

43,141
212,678

195,459
212,678

212,678
0
3,900

212,678
0
(8,187)

212,678
0
(71,506)

212,678
0
(163,660)

212,678
0
(241,380)
3
(241,383)

212,678
0
(146,427)
9
(146,436)

71,843

129,208

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

301,111
231,278
69,833
305,483
193,238
112,245
(4,372)
36,618
4,184
32,434

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

18,877

23,396

36,964

31,531

18,286
3,093
0
0

(13,355)
3,210
0
0

(13,361)
3,736
0
0

(60,850)
3,975
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

94,859

90,153

90,153

90,153

27,350

26,624

144,108

144,108

144,108

144,108

0
30,971

0
30,971

94,859
3,689

90,153
4,706

90,153
4,706

90,153
4,706

26,853
1,014

26,127
726

0
0

0
0

9,146

8,360

8,360

8,360

497
415

497
415

18

18

18

18

7,411
71

5,195
0

5,195
0

5,195
0

0
0

0
0

0
1,646

0
3,147

0
3,147

0
3,147

0
407

0
407

265,799
127,738

65,123
12,258

65,123
12,258

65,123
12,258

66,977
0

67,416
0

138,061
9,258

52,865
18,020

52,865
18,020

52,865
18,020

66,977
6,639

67,416
6,639

9,258

18,020

18,020

(171,052)
39,018

15,370
39,018

39,018
0
(210,070)

5,453
0

5,453
0

18,020

1,186
0

1,186
0

15,370
39,018

15,370
39,018

(45,852)
39,018

(47,017)
39,018

39,018
0
(23,648)

39,018
0
(23,648)

39,018
0
(23,648)

39,018
0
(85,421)
0
(85,421)

39,018
0
(86,586)
0
(86,586)

551

551

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

0
0
0
0
0
0
0
1,383
0
1,383

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

3,945

5,865

5,865

5,865

(13,440)
0
0
0

187,608
0
0
0

187,608
0
0
0

187,608
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

888,390

1,380,413

1,355,518

1,918,615

2,133,502

2,207,707

990,973

1,517,104

1,545,281

1,961,285

4,836
1,969,631

3,995
1,995,867

888,390
30,057

1,380,413
38,513

1,355,518
68,428

1,918,615
66,816

1,848,871
66,722

1,808,691
63,558

0
279,176

0
394,727

513,352

879,080

691,783

1,367,589

620
993,437

295
613,593

15,360

5,506

32,669

18,635

21,664

31,367

286,842
111,388

534,305
141,110

238,154
184,786

813,218
254,061

700,534
209,546

244,289
258,970

33,401
66,361

103,132
95,027

115,795
120,379

113,796
167,879

0
61,692

0
78,967

530,115
360,263

872,202
628,738

471,492
276,489

1,951,463
798,513

1,097,656
853,250

578,795
259,736

169,852
122,169

243,464
574,297

195,003
815,368

1,152,950
176,230

244,406
856,871

319,059
750,988

574,150

441,615

145,000
0

81,667
0

122,169

574,297

815,368

176,230

19,794
117,928

22,721
204,985

749,458
33,426

812,994
33,426

760,441
33,426

1,158,511
33,426

1,172,411
33,426

1,491,518
33,426

33,426
0
716,032

33,426
0
779,568

33,426
0
727,015

33,426
0
1,125,085

33,426
0
(16,678)
5,672
(22,350)

33,426
0
313,187
5,557
307,629

1,155,664

1,144,905

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

1,980,144
1,731,950
248,194
1,778,839
1,545,100
233,739
201,305
135,521
33,736
101,785

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

26,854

43,784

74,941

92,881

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

418,754

478,645

500,282

545,976

550,003

758,822

682,207

762,629

791,923

872,121

0
893,635

13,507
1,218,984

418,754
15,698

478,645
20,722

500,282
25,082

545,976
26,383

538,837
28,786

734,772
30,883

0
0

0
0

261,492

249,102

231,408

486,079

11,166
367,458

10,543
447,211

5,187

1,165

12,131

12,861

2,165

2,599

228,668
296

208,510
2,090

126,303
31,080

398,290
25,744

301,381
20,161

306,354
51,769

0
27,341

0
37,337

0
61,894

0
49,184

0
43,751

0
86,489

608,716
442,216

689,167
563,990

723,238
408,507

1,114,213
623,104

775,630
572,620

702,937
483,619

166,500
170,743

125,177
123,390

314,731
133,647

491,109
116,250

203,010
244,826

219,319
351,630

170,743

123,390

133,647

(99,213)
87,750

(84,810)
87,750

87,750
0
(186,963)

83,513

71,310

119,898
0

163,678
0

116,250

41,415
0

43,407
73,236

(125,195)
87,750

(198,408)
87,750

(102,994)
87,750

151,465
87,750

87,750
0
(172,560)

87,750
0
(212,945)

87,750
0
(286,158)

87,750
0
(278,318)
0
(278,318)

87,750
0
(139,516)
0
(139,516)

87,574

203,231

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

1,182,377
1,156,112
26,265
1,111,359
783,429
327,930
71,018
28,083
7,815
20,268

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

10,480

21,161

19,969

39,973

18,408
2,593
0
0

13,301
3,984
0
0

(6,846)
4,411
0
0

(60,217)
5,384
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

291,701

275,985

335,786

608,784

653,937

644,907

419,396

406,149

402,305

770,920

0
861,965

0
876,772

291,701
11,523

275,985
14,362

335,786
13,889

608,784
19,345

642,417
29,278

627,239
31,324

0
0

0
0

81,112

97,330

101,737

186,844

11,520
247,471

17,668
258,837

3,759

698

719

4,158

7,605

6,952

56,621
1,081

68,122
957

59,799
1,822

93,993
21,602

150,334
18,377

151,182
19,190

0
19,651

0
27,553

0
39,397

0
67,091

0
71,155

0
81,514

80,668
46,312

195,510
68,808

246,784
27,758

190,247
107,830

290,715
154,800

286,335
117,417

34,356
30,375

126,702
16,127

219,026
15,232

82,417
322,929

135,915
351,415

168,918
348,762

263,921

238,170

19,017
0

25,932
0

30,375

16,127

15,232

322,929

9,976
58,502

12,485
72,175

261,770
39,760

161,678
39,760

175,507
39,760

282,452
39,760

259,278
39,760

268,646
39,760

39,760
0
222,010

39,760
0
121,918

39,760
0
135,747

39,760
0
242,692

39,760
0
37,561
0
37,561

39,760
0
54,502
0
54,502

181,958

174,384

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

868,393
868,393
0
846,194
633,292
212,902
22,199
51,196
250
50,946

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

6,526

9,532

17,600

11,235

9,314
1,919
0
0

1,755
2,343
0
0

4,197
2,483
0
0

2,840
1,762
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

642,962

745,533

733,698

678,626

638,615

847,865

1,010,353

1,153,659

1,208,791

1,221,365

0
1,236,722

2,310
1,416,186

642,962
45,037

745,533
59,226

733,698
68,754

678,626
68,471

631,361
62,889

835,533
59,041

0
1,000

0
2,150

779,153

694,731

793,953

1,926,100

6,254
1,680,672

7,873
1,437,998

38,006

14,311

11,559

22,725

8,468

16,491

402,812
207,418

390,012
147,898

389,686
2,912

311,068
244,038

345,221
118,100

330,998
109,438

36,560
94,357

73,969
68,541

110,199
279,597

0
1,348,269

1,078,386
130,497

836,601
144,470

922,957
714,351

857,004
704,514

1,228,051
620,705

1,166,941
691,489

1,000,406
710,150

1,038,125
731,974

208,606
236,187

152,490
184,079

607,346
37,823

475,452
382,722

290,257
456,273

306,151
418,987

236,187

184,079

37,823

262,971
133,640

399,181
133,640

133,640
0
129,331

59,595

19,556

133,072
0

133,072
0

382,722

1,829
261,777

1,692
264,667

261,777
133,640

1,055,063
133,640

862,607
133,640

828,751
133,640

133,640
0
265,541

133,640
0
128,137

133,640
0
921,423

133,640
0
662,317
0
662,317

133,640
0
470,351
0
470,351

66,650

224,760

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

1,585,781
739,691
846,090
1,474,120
1,124,935
349,186
111,660
81,528
43,043
38,484

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

92,650

83,221

92,392

91,869

(17,198)
12,750
0
0

42,178
12,527
0
0

31,500
12,839
0
0

(11,781)
11,300
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

106,899

144,886

175,732

172,131

172,189

166,399

399,560

452,772

502,798

521,224

288
532,098

192
551,309

106,899
11,752

144,886
17,042

175,732
20,228

172,131
23,410

171,204
25,302

165,111
27,668

0
0

0
0

198,211

191,951

179,591

187,498

697
204,039

1,097
236,609

5,341

7,528

15,329

4,448

20,322

9,994

76,347
96,443

57,485
122,235

69,204
89,134

78,752
0

83,326
85,270

128,960
89,280

0
20,080

0
4,703

0
5,924

0
104,298

0
15,121

0
8,375

102,945
73,645

104,145
84,906

278,731
103,096

161,839
0

145,487
115,195

158,213
123,718

29,300
0

19,239
24,295

175,635
21,592

161,839
5,115

30,292
20,116

34,495
16,548

2,365

0
0

0
0

24,295

21,592

5,115

0
17,751

0
16,548

202,165
50,000

208,397
50,000

55,000
55,000

192,675
55,000

210,624
55,000

228,248
55,000

50,000
0
152,165

50,000
0
158,397

55,000
0
0

55,000
0
137,675

55,000
0
155,624
0
155,624

55,000
0
173,248
0
173,248

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

506,145
506,145
0
437,172
281,642
155,530
68,973
17,842
3,826
14,015

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

11,577

16,468

12,637

14,056

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,347,234

2,614,510

2,720,531

2,754,877

19,020,954

22,771,636

3,727,906

4,222,604

4,519,977

4,837,666

13,200,555
4,939,474

15,900,746
5,122,608

2,347,234
149,491

2,608,312
236,142

2,712,596
253,745

2,748,952
254,939

2,599,764
256,887

2,550,331
243,996

6,198

7,935

5,925

13,235
3,192,722

10,471
4,265,428

3,369,787

5,400,682

8,286,493

8,793,634

14,678
3,459,729

44,661
5,172,454

42,045

35,600

28,041

38,276

108,039

661,757

1,489,161
532,864

1,291,006
652,609

1,322,712
859,682

2,082,335
875,712

1,894,004
886,258

2,237,874
1,066,667

1,052,061
253,656

3,159,154
262,313

5,554,971
521,087

5,532,135
265,176

156,412
415,015

199,868
1,006,289

2,248,681
1,891,412

2,473,996
1,964,522

2,742,546
1,922,612

3,754,352
2,961,410

4,095,782
2,285,211

5,506,771
3,449,891

357,269
470,596

509,474
502,619

819,934
627,720

792,942
1,082,667

1,810,571
11,239,821

2,056,880
13,080,515

10,800,718

12,694,512

0
0

0
0

470,596

502,619

627,720

1,082,667

81,082
358,022

102,943
283,060

2,997,744
175,000

5,038,577
175,000

7,636,758
175,000

6,711,492
175,000

7,145,081
175,000

9,356,803
196,875

175,000
0
2,822,744

175,000
0
4,863,577

175,000
0
7,461,758

175,000
0
6,536,492

175,000
0
6,970,081
2,035,587
4,934,494

196,875
0
9,159,928
3,200,428
5,959,500

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

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

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

70,961

96,668

116,154

455,321

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,294,347

3,926,180

4,108,894

4,074,057

7,828,235

8,845,946

5,210,481

6,143,536

6,490,914

6,999,236

177,212
7,190,974

213,372
7,450,767

3,290,827
208,798

3,923,489
334,612

4,107,031
387,140

4,073,022
390,889

3,778,949
396,187

3,680,123
379,405

3,520

2,691

1,863

1,035

7,405
3,838,669

5,920
4,909,434

4,023,575

5,292,211

7,017,110

8,250,208

26,000
4,177,509

37,096
5,134,745

41,256

33,312

53,774

66,875

89,246

121,649

1,860,864
976,383

1,908,735
1,181,491

1,949,146
1,280,852

3,278,653
1,129,634

2,603,526
1,112,467

2,984,819
1,251,651

863,332
281,740

1,926,421
242,252

400,087
3,333,251

140,660
3,634,386

0
372,270

0
776,626

3,006,481
2,283,247

4,390,082
3,214,639

4,372,189
3,105,043

5,880,623
4,921,423

4,593,083
3,960,727

4,683,318
3,751,619

723,234
1,187,617

1,175,443
934,381

1,267,146
734,947

959,200
866,151

632,356
1,229,653

931,699
1,021,329

702,714

544,445

0
0

0
0

1,187,617

934,381

734,947

866,151

87,194
439,744

96,702
380,182

3,123,824
200,831

3,893,928
200,831

6,018,868
200,831

5,577,491
200,831

6,183,007
200,831

8,276,044
200,831

200,831
0
2,922,993

200,831
0
3,693,097

200,831
0
5,818,037

200,831
0
5,376,660

200,831
0
5,982,176
0
5,982,176

200,831
0
8,075,213
0
8,075,213

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

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

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

99,413

133,353

143,598

557,902

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

747,890

798,883

821,208

1,094,494

1,048,694

1,001,233

1,458,831

1,547,848

1,572,175

1,897,383

0
1,899,363

245
1,886,211

747,890
38,689

798,883
54,530

821,208
62,093

1,094,494
58,906

1,042,697
53,322

997,364
48,277

0
190

0
259

263,499

347,492

272,710

283,634

5,807
173,604

3,365
329,060

1,682

629

994

1,695

2,489

3,468

185,281
43,103

199,986
92,990

149,723
60,889

191,628
35,335

107,324
15,453

185,480
53,008

1,557
31,876

540
53,347

850
60,254

529
54,447

0
48,338

0
87,104

356,073
225,981

429,079
310,104

491,487
196,957

496,411
227,360

477,915
262,180

442,563
292,691

130,092
227,336

118,975
245,327

294,530
220,791

269,051
204,981

215,735
193,331

149,872
216,862

162,687

186,218

0
0

0
0

227,336

245,327

220,791

204,981

0
30,644

0
30,644

427,980
312,000

471,969
312,000

381,640
312,000

676,736
312,000

551,052
312,000

670,868
312,000

312,000
0
115,980

312,000
0
159,969

312,000
0
69,640

312,000
0
364,736

312,000
0
(347,668)
0
(347,668)

312,000
0
(220,379)
0
(220,379)

586,720

579,247

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

1,402,105
917,052
485,053
1,386,328
1,041,748
344,580
15,777
63,610
35,181
28,429

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

28,692

56,297

63,555

56,923

48,612
4,805
0
0

57,281
7,159
0
0

(83,568)
6,845
0
0

(51,674)
7,528
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

242,107

235,286

243,108

291,668

341,762

359,976

546,304

553,580

570,683

633,558

0
690,405

0
726,086

242,107
9,887

235,286
12,598

243,108
12,403

291,668
14,077

338,680
15,383

356,894
17,467

0
0

0
0

233,467

362,644

358,165

303,442

3,082
228,616

3,082
160,492

1,481

3,679

6,634

6,082

3,520

12,465

109,733
10,783

162,389
6,588

156,272
77,602

188,631
7,974

174,447
97

108,671
99

0
111,470

0
189,988

0
117,657

0
100,755

0
50,552

0
39,258

258,944
73,647

397,958
170,658

409,656
154,656

332,562
167,255

329,467
148,188

202,120
99,728

185,297
126,686

227,300
111,268

255,000
108,740

165,307
141,009

181,279
214,177

102,392
208,371

76,069

54,347

90,855
0

90,855
0

126,686

111,268

108,740

141,009

9,903
37,350

13,200
49,969

89,944
132,750

88,704
132,750

82,877
132,750

121,539
132,750

26,734
132,750

109,978
132,750

132,750
0
(42,806)

132,750
0
(44,046)

132,750
0
(49,873)

132,750
0
(11,211)

132,750
0
(131,296)
0
(131,296)

132,750
0
(81,994)
0
(81,994)

25,280

59,222

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

472,088
472,088
0
431,535
269,434
162,101
40,553
17,899
1,077
16,823

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

9,547

14,970

15,510

17,193

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

420,034

130,309

725,126

178,054

0
0

0
0

420,034
46,359

130,309
0

0
0

0
0

0
0

0
0

0
0

0
0

51,364

3,822

46

40

0
39

0
39

5,737

102

46

40

39

39

0
5,851

1,987
0

0
0

0
0

0
0

0
0

0
39,776

0
1,733

0
0

0
0

0
0

0
0

437,013
330,854

368,333
27,877

221,446
9,242

79,122
0

221,763
142,247

221,873
142,397

106,159
434,484

340,456
0

212,204
0

79,122
142,480

79,515
0

79,475
0

0
0

0
0

0
0

0
0

434,484

142,480

(400,099)
157,548

(234,202)
157,548

(221,400)
157,548

(221,562)
157,548

(221,723)
157,548

(221,833)
157,548

157,548
0
(557,647)

157,548
0
(391,750)

157,548
0
(378,948)

157,548
0
(379,110)

157,548
0
(379,271)
0
(379,271)

157,548
0
(379,381)
0
(379,381)

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

0
0
0
0
0
0
0
68
0
68

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

26,436

572

60

(106,229)
203
0
0

1,224
0
0
0

12,802
1,817
0
0

(162)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

282,302

224,886

200,801

176,379

160,020

405,970

334,905

296,267

288,292

270,837

0
257,431

580
437,789

282,302
12,232

224,886
21,321

200,801
20,026

176,379
14,425

158,332
99,098

403,415
34,392

0
0

0
0

54,111

52,964

72,267

10,687

1,688
21,317

1,976
29,898

494

2,400

409

1,137

1,203

13,857

51,652
0

45,905
0

67,384
0

5,560
0

17,265
370

12,444
0

0
1,965

0
4,659

0
4,474

0
3,990

0
2,479

0
3,598

286,058
134,592

303,477
187,195

420,103
193,323

247,812
123,859

137,992
90,310

164,995
136,958

151,466
91,701

116,282
13,270

226,780
10,573

123,953
128,074

47,682
224,181

28,037
201,777

91,701

13,270

10,573

(41,346)
44,492

(38,897)
44,491

44,492
0
(85,838)

78,077

36,261

139,640
0

128,071
0

128,074

2,011
4,452

1,859
35,587

(157,608)
44,492

(188,820)
44,492

(180,835)
44,492

69,096
44,492

44,491
0
(83,388)

44,492
0
(202,100)

44,492
0
(233,312)

44,492
0
(265,319)
38,250
(303,569)

44,492
0
(253,469)
38,250
(291,719)

39,993

278,073

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

242,860
242,860
0
249,183
169,778
79,405
(6,323)
9,391
506
8,885

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

11,634

12,803

15,678

13,740

(18,197)
1,397
0
0

18,609
1,372
0
0

(71,897)
1,228
0
0

(36,681)
964
0
15,412

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

197,141

274,880

310,821

287,447

269,184

254,032

346,056

446,807

467,883

512,262

217
524,633

0
534,603

197,141
14,627

274,880
20,676

310,821
26,331

287,447
31,233

267,925
29,364

251,650
27,257

0
0

0
0

129,962

148,965

94,235

173,489

1,042
171,280

2,382
240,487

4,656

1,096

1,748

768

1,997

3,126

68,477
27,101

35,559
21,331

67,402
67,402

127,325
13,119

118,954
22,819

123,116
62,525

0
29,728

0
90,979

0
(42,317)

0
32,277

0
27,510

0
51,720

116,788
72,722

142,381
90,314

156,551
77,884

215,179
120,291

275,212
195,009

294,444
186,024

44,066
94,607

52,067
141,615

78,667
135,798

94,888
133,876

80,203
81,632

108,420
68,923

74,904

40,589

0
0

0
0

94,607

141,615

135,798

133,876

0
6,728

0
28,334

115,708
30,000

139,849
30,000

112,707
30,000

111,881
30,000

83,620
30,000

131,152
30,000

30,000
0
85,708

30,000
0
109,849

30,000
0
82,707

30,000
0
81,881

30,000
0
53,620
0
53,620

30,000
0
101,152
0
101,152

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

874,380
871,765
2,615
849,672
608,890
240,782
24,708
23,093
778
22,315

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

14,579

21,270

21,468

22,343

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

901,450

974,628

907,584

961,358

1,610,860

1,566,340

1,586,202

1,747,310

1,771,012

1,847,090

4,201
2,628,853

18,968
2,651,235

901,450
63,760

974,628
88,152

907,584
94,197

961,358
89,413

1,594,158
79,848

1,537,151
87,007

0
0

0
0

1,081,272

908,067

916,109

1,268,913

12,501
1,089,139

10,221
1,012,625

20,305

7,643

7,217

5,350

14,326

30,170

713,595
249,258

596,315
247,904

450,776
303,394

855,102
232,787

626,852
276,269

466,484
326,459

0
98,114

0
56,205

0
154,722

0
175,674

0
171,692

0
189,512

1,077,374
963,966

1,141,595
960,072

1,231,954
909,827

1,623,985
1,251,954

1,579,479
1,246,692

1,477,677
1,078,172

113,408
459,571

181,523
295,607

322,127
309,248

372,031
397,830

332,788
538,911

399,505
399,575

251,744

99,654

58,183
0

75,242
0

459,571

295,607

309,248

397,830

21,141
207,844

19,418
205,261

445,777
176,367

445,493
176,367

282,491
176,367

208,456
176,367

581,609
176,367

701,714
176,367

176,367
0
269,410

176,367
0
269,126

176,367
0
106,124

176,367
0
32,089

176,367
0
(96,719)
53,219
(149,938)

176,367
0
27,823
53,219
(25,396)

501,960

497,524

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

3,215,227
2,523,680
691,547
3,070,481
2,488,833
581,648
144,746
84,587
45,805
38,782

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

46,509

61,502

66,864

71,158

17,998
8,774
0
0

9,673
12,705
0
0

(77,404)
12,155
0
0

(59,504)
14,401
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

528,298

516,139

491,791

529,292

517,063

517,063

916,073

929,981

931,926

993,985

224
991,557

224
991,557

528,298
20,740

516,139
27,061

491,791
26,302

529,292
25,179

504,871
23,848

504,871
23,848

0
11,600

0
11,600

245,539

256,113

172,487

288,788

368
115,385

368
115,385

6,086

11,496

14,448

11,173

1,383

1,383

113,336
6,029

152,380
9,499

75,497
2,070

189,093
5,871

76,147
2,726

76,147
2,726

81,007
39,081

58,083
24,655

47,459
33,013

54,829
27,822

5,220
29,909

5,220
29,909

334,548
143,292

334,642
166,573

377,836
85,657

419,268
14,767

185,127
83,235

185,127
83,235

191,256
62,516

168,069
50,111

292,179
32,177

404,501
117,817

101,892
272,804

101,892
272,804

62,516

50,111

32,177

376,773
147,293

387,499
147,293

147,293
0
229,480

49,264

49,264

131,600
0

131,600
0

117,817

6,247
85,693

6,247
85,693

254,265
147,293

280,995
147,293

174,519
147,293

174,519
147,293

147,293
0
240,206

147,293
0
106,972

147,293
0
133,702

147,293
0
(220,748)
0
(220,748)

147,293
0
(220,748)
0
(220,748)

247,973

247,973

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

825,316
311,190
514,126
804,664
594,091
210,573
20,652
84,037
15,632
68,405

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

34,561

41,181

41,481

37,612

11,867
3,242
0
0

3,177
4,452
0
0

(11,859)
4,677
0
0

(38,912)
5,271
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

405,084

405,084

405,084

816,125

0
816,125

0
816,125

405,084
467,598

405,084
467,598

405,084
467,598

71,425

71,425

71,425

30

30

30

43,445
1,210

43,445
1,210

43,445
1,210

0
26,740

0
26,740

0
26,740

452,589
171,994

452,589
171,994

452,589
171,994

280,595
35,968

280,595
35,968

280,595
35,968

35,968

35,968

35,968

(12,048)
139,804

(12,048)
139,804

(12,048)
139,804

139,804
0
(151,852)

139,804
0
(151,852)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

710,359

754,250

717,543

758,279

699,385

689,140

1,061,504

1,179,132

1,187,187

918,434

13,857
1,244,002

32,759
1,282,976

710,359
56,970

754,250
73,956

717,543
75,676

758,279
70,478

682,704
75,754

652,412
69,266

0
0

0
0

401,924

467,692

568,745

746,926

2,823
747,906

3,969
866,122

6,004

11,542

15,254

35,165

3,208

7,592

136,071
204,443

130,427
236,656

153,020
337,885

183,970
460,627

174,014
512,401

226,846
56,701

0
55,406

0
89,067

0
62,586

0
67,164

0
58,284

0
574,983

385,001
316,579

601,440
372,963

524,665
353,782

735,701
527,686

654,795
415,597

780,649
497,882

68,422
241,842

228,477
220,000

170,883
346,067

208,015
400,493

239,198
393,308

282,767
286,687

256,740

154,492

0
0

0
0

241,842

220,000

346,067

400,493

20,823
115,745

24,810
107,386

485,440
96,600

400,502
96,600

415,556
96,600

369,011
96,600

399,189
96,600

487,926
96,600

96,600
0
388,840

96,600
0
303,902

96,600
0
318,956

96,600
0
272,411

96,600
0
243,308
0
243,308

96,600
0
337,738
0
337,738

59,281

53,589

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

2,424,338
188,292
2,236,046
2,153,858
1,794,021
359,837
270,480
142,138
26,128
116,009

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

38,276

61,185

64,720

62,815

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

613,651

741,568

741,568

809,508

1,409,048

1,472,056

1,005,376

1,158,083

1,158,083

1,273,018

20,704
2,265,176

22,837
1,338,845

613,651
23,802

741,568
35,609

741,568
35,609

809,508
34,172

1,265,795
58,961

1,267,476
57,124

0
122,073

0
180,110

326,739

310,944

310,944

337,342

477
266,197

1,633
385,635

2,317

2,917

2,917

4,480

5,299

21,446

97,577
20,900

103,172
23,239

103,172
23,239

145,633
15,610

166,695
16,873

195,229
53,848

35,141
170,804

8,243
173,373

8,243
173,373

13,400
158,219

384
76,946

453
114,659

206,990
143,127

340,722
174,471

340,722
174,471

403,904
117,476

326,444
177,254

367,594
201,402

63,863
226,009

166,251
275,342

166,251
275,342

286,428
238,026

149,190
549,935

166,192
508,724

313,664

240,273

20,977
0

42,477
0

226,009

275,342

275,342

238,026

17,228
198,066

21,914
204,060

507,391
135,526

436,448
135,526

436,448
135,526

504,920
135,526

798,868
135,526

981,374
135,526

135,526
0
371,865

135,526
0
300,922

135,526
0
300,922

135,526
0
369,394

135,526
0
151,901
49,984
101,917

135,526
0
313,954
49,984
263,970

511,441

531,894

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

2,223,397
1,447,248
776,149
2,098,181
1,554,661
543,520
125,216
131,892
35,086
96,806

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

43,160

49,990

49,990

47,801

6,853
3,513
0
0

29,178
4,605
0
0

29,178
4,605
0
0

4,178
6,030
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

578,519

1,105,593

1,071,050

985,075

916,354

850,086

958,722

1,537,355

1,542,589

1,533,242

37,659
1,538,039

39,435
1,550,545

578,519
33,297

1,105,593
55,628

1,071,050
108,361

985,075
98,113

877,084
90,143

809,040
82,763

0
0

0
0

520,203

554,426

803,472

751,621

1,611
719,620

1,611
679,471

8,360

13,684

217

13,962

14,338

13,735

123,020
69,731

142,737
118,937

211,929
161,056

346,223
203,324

289,186
277,081

300,483
204,002

274,988
44,104

204,666
74,402

0
430,270

0
188,112

29,236
109,779

27,278
133,973

348,826
253,678

627,961
466,915

829,504
458,823

897,859
605,343

990,746
677,726

886,559
599,735

95,148
207,710

161,046
528,696

370,681
403,137

292,516
327,930

313,020
246,642

286,824
98,264

206,933

84,633

39,709
0

0
0

207,710

528,696

403,137

327,930

0
0

0
13,631

542,186
86,400

503,362
86,400

641,881
86,400

510,907
86,400

398,586
86,400

544,734
86,400

86,400
0
455,786

86,400
0
416,962

86,400
0
555,481

86,400
0
424,507

86,400
0
312,186
73,192
238,994

86,400
0
458,334
88,563
369,771

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

2,700,814
2,284,774
416,040
2,563,658
1,946,360
617,298
137,156
131,838
43,416
88,422

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

36,671

47,745

70,185

83,667

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

26,928

2,682

2,501

2,289

2,153

1,973

49,329

14,368

14,380

14,380

0
14,380

0
14,180

26,928
2,162

2,682
249

2,501
230

2,289
212

2,099
190

1,918
170

0
0

0
0

7,233

3,675

3,725

690

55
519

55
356

634

246

249

247

166

185

0
0

0
0

0
0

0
0

0
0

0
0

0
6,599

0
3,429

0
3,476

0
443

0
353

0
171

30,414
18,733

18,114
1,250

18,072
0

16,295
0

16,343
0

5,512
0

11,681
5,798

16,864
0

18,072
0

16,295
0

16,343
0

5,512
0

0
0

0
0
0
0

5,798

0
0

(2,051)
34,253

(11,757)
34,252

(11,846)
34,252

(13,316)
34,252

(13,671)
34,253

(3,184)
34,253

34,253
0
(36,304)

34,252
0
(46,009)

34,252
0
(46,098)

28,294
5,958
(47,568)

34,253
0
(47,923)
34
(47,957)

34,253
0
(37,436)
34
(37,470)

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

4,147

9,991

1,571

3,083

0
0
0
1,309
0
1,309
(1,309)
287
0
287

0
0
0
1,367
0
1,367
(1,367)
933
0
933
997
11
0
10,626
103
0
0
10,626

14,979
194
0
0

(9,180)
158
0
0

(178)
69
0
0

(1,388)
82
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

644,397

746,599

939,605

916,580

894,123

865,941

920,466

1,077,162

1,355,335

1,419,674

0
1,477,625

0
1,515,615

644,397
43,029

746,599
70,482

939,605
77,655

916,580
89,797

886,668
86,286

858,486
82,135

0
2,342

0
2,342

680,357

622,308

620,464

1,180,399

5,113
915,113

5,113
832,088

45,223

37,113

15,119

25,295

36,145

11,711

493,679
83,493

381,341
81,292

400,505
106,031

937,918
134,975

495,154
309,278

320,286
361,352

2,342
55,620

2,342
120,220

2,342
96,467

2,342
79,869

0
74,536

0
138,739

608,612
535,277

672,829
530,529

1,491,069
428,060

1,266,922
864,399

855,253
725,683

522,964
338,838

73,335
254,591

142,300
271,523

1,063,009
0

402,523
414,319

129,569
302,610

184,127
185,184

210,191

106,306

0
0

0
0

254,591

271,523

414,319

7,619
84,800

6,274
72,604

461,551
69,000

424,555
69,000

69,000
69,000

415,738
69,000

651,374
69,000

989,881
69,000

69,000
0
392,551

69,000
0
355,555

69,000
0
0

69,000
0
346,738

69,000
0
410,401
3,600
406,801

69,000
0
752,181
3,600
748,581

171,973

168,700

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

2,197,384
1,614,649
582,736
1,959,896
1,549,319
410,576
237,489
74,555
30,320
44,234

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

45,466

39,492

50,343

52,776

84,404
7,042
6,900
0

28,600
8,135
0
0

16,080
227
0
0

19,696
9,510
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,490,056

2,335,157

2,232,838

2,291,150

2,127,348

1,995,477

2,487,042

3,395,090

3,450,968

3,717,206

29,595
3,774,179

35,723
3,833,740

1,490,056
116,680

2,335,157
186,519

2,232,838
242,532

2,291,150
234,691

2,081,859
224,540

1,936,231
206,529

0
21

0
17

1,146,384

1,103,499

1,347,205

1,417,080

15,873
1,223,109

23,506
1,634,455

55,212

53,714

372,068

5,666

13,543

22,241

472,995
230,240

367,300
281,873

404,388
320,947

885,973
281,941

711,286
285,817

1,027,331
360,603

255,003
132,934

192,341
208,271

7,128
242,674

5,172
238,328

52,345
160,118

58,692
165,588

938,226
737,819

1,291,362
858,031

1,642,365
871,003

1,466,187
881,833

1,289,875
836,907

1,124,073
638,605

200,407
561,332

433,331
1,009,468

771,362
571,912

584,354
837,082

452,968
666,067

485,468
627,935

537,639

416,957

0
0

0
0

561,332

1,009,468

571,912

837,082

0
128,428

0
210,978

1,136,882
180,000

1,137,826
180,000

1,365,766
180,000

1,404,961
180,000

1,394,515
180,000

1,877,924
180,000

180,000
0
956,882

180,000
0
957,826

180,000
0
1,185,766

180,000
0
1,224,961

180,000
0
1,214,515
17,070
1,197,445

180,000
0
1,697,924
22,376
1,675,548

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

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

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

70,548

142,267

123,537

140,997

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

171,966

203,578

206,052

186,619

188,982

187,550

284,245

328,689

336,080

339,356

0
339,356

0
339,356

170,895
9,333

203,578
11,761

206,052
15,460

186,619
16,065

183,458
3,884

182,026
1,432

1,071

0
0

0
0

204,078

211,612

207,190

260,871

5,524
85,260

5,524
70,273

2,120

2,876

3,152

5,939

3,184

2,341

170,674
22,245

166,709
23,145

119,324
39,156

27,844
29,343

22,006
29,253

12,784
30,476

0
9,039

408
18,474

0
45,558

0
197,745

0
30,817

0
24,672

133,492
93,636

161,940
144,533

301,543
142,546

252,382
152,401

144,271
105,345

144,353
101,133

39,856
93,166

17,407
91,304

158,997
0

99,981
116,569

38,927
79,411

43,220
77,843

49,521

48,118

21,489
0

21,181
0

93,166

91,304

116,569

1,873
6,529

1,873
6,671

149,386
40,500

161,946
40,500

111,699
40,500

78,539
40,500

50,559
40,500

35,627
40,500

40,500
0
108,886

40,500
0
121,446

40,500
0
71,199

40,500
0
38,039

40,500
0
(17,357)
0
(17,357)

40,500
0
(32,407)
0
(32,407)

27,416

27,535

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

2,954
2,954
0
13,395
4,838
8,557
(10,441)
1,730
0
1,730

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

2,664

7,400

9,922

4,985

5,540
702
0
0

16,074
2,780
0
0

(16,881)
2,081
0
0

(31,724)
1,156
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,046,544

933,715

933,715

639,962

639,962

639,962

1,290,475

1,296,345

1,296,345

1,289,493

0
1,289,493

0
1,289,493

858,469
66,947

782,065
82,906

782,065
82,906

639,962
67,278

639,962
67,278

639,962
67,278

188,075

151,650

151,650

860,689

709,396

709,396

591,782

591,782

591,782

9,773

10,294

10,294

7,232

7,232

7,232

299,170
274,848

224,593
240,722

224,593
240,722

114,041
269,917

114,041
269,917

114,041
269,917

5,083
271,815

4,363
229,424

4,363
229,424

3,088
197,504

3,088
197,504

3,088
197,504

805,654
422,278

797,980
401,753

797,980
401,753

1,150,159
92,735

1,150,159
92,735

1,150,159
92,735

383,376
1,025,310

396,227
1,003,689

396,227
1,003,689

1,057,424
695,648

1,057,424
695,648

1,057,424
695,648

1,025,310

1,003,689

1,003,689

695,648

695,648

695,648

76,269
334,420

(158,558)
334,420

(158,558)
334,420

(614,063)
334,420

(614,063)
334,420

(614,063)
334,420

334,420
0
(258,151)

334,420
0
(492,978)

334,420
0
(492,978)

334,420
0
(948,483)

334,420
0
(948,483)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,447,166

1,495,267

1,405,254

2,318,568

2,330,993

2,222,732

1,617,160

1,826,995

1,829,834

2,433,224

2,639
2,554,558

2,415
2,565,698

1,447,166
80,570

1,495,267
165,230

1,405,254
108,002

2,318,568
102,450

2,327,780
118,940

2,219,711
118,830

0
0

0
0

991,545

1,060,508

1,203,294

1,823,650

574
1,452,118

606
1,416,780

78,145

14,445

132,989

55,623

41,044

53,470

656,640
144,984

755,345
133,145

775,946
117,798

1,421,759
200,297

1,159,838
142,257

1,019,574
190,017

3,274
108,502

1,401
156,172

0
176,561

0
145,971

0
108,979

0
153,719

985,134
793,703

1,202,802
969,306

1,108,923
795,652

1,855,499
1,580,324

1,957,621
1,424,688

1,590,614
1,306,248

191,431
874,277

233,496
746,889

313,271
897,781

275,175
839,839

532,933
608,495

284,366
326,811

467,995

277,315

25,000
0

25,000
0

874,277

746,889

897,781

839,839

18,580
96,920

22,793
1,703

579,300
173,248

606,084
173,248

601,844
173,247

1,446,880
173,247

1,216,995
173,248

1,722,087
173,248

173,248
0
406,052

173,248
0
432,836

173,247
0
428,597

173,247
0
1,273,633

173,248
0
117,405
0
117,405

173,248
0
604,190
0
604,190

926,342

944,650

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

2,804,593
527,339
2,277,254
2,367,017
1,707,201
659,816
437,576
335,027
127,151
207,876

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

73,351

123,244

164,540

189,670

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,032,469

2,152,277

4,447,419

4,226,157

6,730,262

6,785,795

3,482,657

3,787,863

6,224,791

6,350,733

2,260
6,509,169

32,809
6,526,246

2,022,388
138,683

2,152,277
214,417

4,447,419
261,564

4,226,157
297,566

4,180,127
275,864

3,948,372
262,252

10,081

0
713,218

0
873,067

5,198,168

4,979,480

5,803,640

6,919,501

1,834,657
4,085,672

1,931,547
4,202,903

35,692

40,570

7,365

8,572

18,931

16,419

1,172,286
1,061,382

962,695
1,002,954

978,266
1,258,121

1,240,654
2,106,306

940,421
2,562,348

1,047,150
2,579,901

850,812
2,077,996

1,153,175
1,820,086

1,120,161
2,439,727

1,121,116
2,442,853

65,253
498,719

49,706
509,727

3,194,110
2,581,774

3,046,814
2,647,407

4,668,085
3,070,846

5,805,699
4,984,404

5,805,685
5,240,052

6,010,688
5,291,686

612,336
1,373,021

399,407
1,623,124

1,597,239
953,333

821,295
1,287,373

565,633
1,108,019

719,002
665,164

1,108,019

656,351

499,925

399,940

299,955

0
0

0
0

873,096

1,223,184

953,333

987,418

0
0

0
8,813

2,663,506
406,693

2,461,819
406,693

4,629,641
447,362

4,052,586
492,099

3,902,230
492,099

4,312,846
492,099

406,693
0
2,256,813

406,693
0
2,055,126

447,362
0
4,182,279

492,099
0
3,560,487

492,099
0
1,769,738
21,131
1,748,607

492,099
0
2,180,340
75,789
2,104,551

1,640,393

1,640,407

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

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

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

320,468

356,473

445,352

667,354

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

850,054

987,445

1,526,635

1,536,338

1,580,878

1,473,028

1,103,968

1,187,292

174,856

1,938,482

44,866
1,892,139

116
1,970,960

850,054
32,757

987,445
37,727

1,526,635
92,740

1,536,338
139,068

1,515,015
140,363

1,456,303
138,429

0
0

0
0

1,268,765

1,346,069

1,706,276

1,988,495

20,997
2,070,924

16,609
2,346,170

68,820

91,850

69,206

44,397

50,692

88,068

584,179
355,046

597,505
367,384

867,898
435,045

1,089,454
636,141

1,065,316
715,102

1,301,378
658,700

0
260,720

0
289,330

0
334,127

0
218,503

0
239,814

0
298,024

1,155,347
709,387

1,526,092
1,048,864

1,948,568
1,119,721

2,129,878
1,373,662

2,215,502
1,585,538

2,493,193
1,613,104

445,960
244,519

477,228
133,000

828,847
305,250

756,216
393,901

629,964
295,594

880,088
213,140

267,439

186,556

0
0

0
0

244,519

133,000

305,250

393,901

28,155
0

26,584
0

718,953
170,000

674,422
170,000

979,093
170,000

1,001,054
170,000

1,140,706
170,000

1,112,865
170,000

170,000
0
548,953

170,000
0
504,422

170,000
0
809,093

170,000
0
831,054

170,000
0
495,240
495,240
0

170,000
0
490,381
490,381
0

475,466

452,484

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

3,419,616
837
3,418,779
2,700,003
779,835
1,920,168
719,613
399,666
163,322
236,343

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

188,034

276,416

286,413

309,579

12,674
9,810
0
0

30,358
20,401
0
0

38,717
22,676
0
0

58,254
33,457
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

182,364

0
0

60,877

0
0

182,364
21,016

0
0

0
0

0
0

0
0

0
0

49,904

99,212

107,256

122,457

122,457

122,457

9,878

15

20

33

33

33

0
0

0
0

0
0

0
0

0
0

0
0

79
39,947

0
99,197

98,233
9,003

18,004
104,420

18,004
104,420

18,004
104,420

67,381
0

19,908
0

24,129
0

29,168
604

29,168
604

29,168
604

67,381
0

19,908
0

24,129
0

28,564
0

28,564
0

28,564
0

164,887
37,263

79,304
37,263

83,127
37,263

93,289
37,263

93,289
37,263

93,289
37,263

37,263
0
127,624

37,263
0
42,041

37,263
0
45,864

37,263
0
56,026

37,263
0
56,026

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

422,462

637,866

749,125

839,057

807,152

907,681

768,510

1,005,316

1,177,085

1,305,303

1,935
1,322,443

0
1,471,725

420,677
33,943

637,866
49,764

746,863
78,172

836,464
61,632

786,871
60,569

877,878
63,579

1,785

2,262

2,593

2,075
0

1,924
0

298,854

318,862

431,941

469,666

16,271
460,378

27,879
525,221

89,171

50,788

117,151

3,843

6,546

6,973

69,901
33,123

113,734
64,539

147,329
47,245

177,849
129,107

196,644
93,836

211,533
148,655

0
106,659

0
89,801

0
120,216

0
158,867

0
163,352

0
158,061

740,657
138,088

644,479
144,698

831,104
133,772

937,066
276,529

579,388
293,804

677,536
341,318

602,569
51,851

499,781
143,233

697,332
169,886

660,537
202,043

285,584
514,982

336,218
575,273

208,250

227,124

285,715
0

285,653
0

51,851

143,233

169,886

202,043

21,017
0

24,052
38,444

(71,192)
181,680

169,016
400,000

180,076
400,000

169,614
400,000

173,160
400,000

180,094
400,000

181,680
0
(252,872)

400,000
0
(230,984)

400,000
0
(219,924)

400,000
0
(230,386)

400,000
0
(226,840)
0
(226,840)

400,000
0
(219,906)
0
(219,906)

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

2,098,980
955,425
1,143,555
1,884,558
1,441,981
442,577
214,422
129,516
75,787
53,729

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

69,029

64,194

83,206

112,204

(92,397)
6,700
0
0

39,506
5,874
64,194
0

7,573
9,828
0
0

706
10,175
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

341,933

332,812

1,302,832

1,268,947

1,293,312

1,128,278

538,613

561,757

1,492,985

1,635,016

68,437
1,687,070

31,086
1,178,239

341,933
27,375

332,812
33,438

1,302,832
102,098

1,268,947
104,939

1,108,133
107,263

1,073,510
102,088

0
113,460

0
20,400

248,527

305,899

1,218,975

1,737,007

3,282
1,426,672

3,282
1,370,026

10,358

11,015

141,545

9,244

7,539

7,774

62,668
16,835

59,805
34,829

578,325
280,801

695,585
348,418

718,190
308,116

625,260
442,341

112,816
45,850

169,273
30,977

80,000
138,304

141,595
542,165

149,181
243,645

87,232
207,421

227,707
134,989

245,050
167,957

1,422,494
1,310,378

1,866,389
1,402,933

1,741,750
1,558,467

1,500,751
1,282,535

92,718
82,143

77,093
49,286

112,116
138,093

463,456
320,836

183,283
379,845

218,216
320,024

175,000

155,000

180,422
0

145,655
0

82,143

49,286

138,093

320,836

15,952
8,472

19,370
0

280,610
110,093

344,375
110,093

961,220
110,093

818,729
340,509

598,389
340,509

677,529
340,509

110,093
0
170,517

110,093
0
234,282

110,093
0
851,127

340,509
0
478,220

340,509
0
190,227
158,709
31,518

340,509
0
266,784
177,742
89,042

67,652

70,236

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

2,109,300
1,176,411
932,889
1,845,784
1,251,351
594,433
263,516
102,999
36,925
66,074

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

8,030

15,242

128,002

86,060

11,389
445
0
0

4,294
102
8,257
0

148,906
11,636
0
0

(40,990)
9,797
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,026,638

1,622,115

1,752,408

2,275,204

2,135,990

1,975,871

361,951

1,732,009

1,966,883

1,977,279

2,177
2,357,476

1,150
2,382,076

1,026,638
27,837

1,622,115
74,062

1,752,408
143,022

2,275,204
368,668

2,127,462
195,838

1,971,655
182,295

0
0

0
0

706,815

942,517

1,308,206

1,271,366

6,351
1,192,196

3,066
1,344,057

103,444

35,543

59,827

2,464

28,924

7,969

207,697
166,529

391,529
215,701

587,888
378,085

672,845
313,228

608,402
283,583

627,299
317,273

0
229,145

31,895
267,849

0
282,406

14,175
268,654

5,388
265,899

2,949
388,567

766,758
678,772

1,158,062
954,202

1,686,007
1,211,699

2,064,963
1,586,967

1,837,373
1,419,793

2,136,492
1,621,191

87,986
468,764

203,860
755,933

474,308
721,330

477,996
683,069

417,580
843,273

515,301
599,049

694,155

459,893

0
0

0
0

468,764

755,933

721,330

683,069

16,915
132,203

19,962
119,195

497,931
474,287

650,637
594,287

653,277
594,287

798,538
594,287

647,541
594,287

584,387
594,287

474,287
0
23,644

594,287
0
56,350

594,287
0
58,990

594,287
0
204,251

594,287
0
(263,638)
0
(263,638)

594,287
0
(302,633)
0
(302,633)

316,891

292,733

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

2,601,772
1,672,809
928,963
2,327,132
1,562,719
764,413
274,640
114,395
74,594
39,802

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

48,385

53,931

83,590

100,476

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

6,829,411

7,304,339

7,918,347

9,098,056

12,053,142

25,068,832

11,015,759

11,369,913

13,073,524

14,617,269

4,344,248
13,472,856

17,418,441
14,135,363

6,727,518
510,036

7,192,582
613,485

7,884,034
668,922

9,065,963
772,960

7,600,019
980,389

7,551,162
1,059,481

101,893

111,757

34,313

32,093

38,842
10,333

26,570
9,850

9,660,815

9,969,270

10,586,846

12,115,645

59,700
11,253,695

62,809
12,090,904

231,297

209,975

180,222

234,102

1,010,614

737,708

4,764,795
3,295,534

5,341,671
3,193,609

4,427,778
4,120,389

5,225,008
4,628,500

4,913,137
3,511,685

6,458,307
3,377,333

612,495
756,694

485,143
738,872

60,621
1,797,836

61,464
1,966,571

500
1,817,759

0
1,517,556

9,437,077
6,516,401

10,232,591
7,099,823

10,079,177
5,882,726

11,540,776
7,339,162

10,861,255
7,795,877

13,041,945
8,878,906

2,920,676
2,930,273

3,132,768
2,737,894

4,196,451
2,948,290

4,201,614
3,778,802

3,065,378
6,273,126

4,163,039
14,986,041

5,971,296

14,598,330

50,267
0

49,827
0

2,930,273

2,737,894

2,948,290

3,778,802

85,840
165,722

108,927
228,957

4,122,876
1,003,985

4,303,124
1,101,202

5,477,726
1,193,201

5,894,123
1,193,201

6,172,455
993,999

9,131,750
993,999

1,003,985
0
3,118,891

1,101,202
0
3,201,922

1,193,201
0
4,284,525

1,193,201
0
4,700,922

993,999
0
5,178,456
1,179,452
3,999,004

993,999
0
8,137,751
3,388,927
4,748,823

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

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

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

953,823

1,001,497

1,115,747

1,279,025

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

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

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

6.45

3.7 3.9

Percentage

10
6
4.12

Return on
Return on
Assets
Equity

2.78 3.07

4
2

4.52

1.04 0.93

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

81,813

84,689

88,710

119,907

114,559

120,374

141,003

151,131

161,910

201,845

0
200,264

13,421
203,015

81,813
5,367

84,689
7,306

88,710
8,177

119,907
8,738

112,879
11,237

105,273
10,356

0
0

0
0

50,987

75,176

101,111

93,163

1,680
118,111

1,680
128,616

5,583

3,328

6,680

6,276

14,261

28,273

28,797
4,315

44,786
3,056

65,593
4,655

61,701
1,246

66,796
4,060

43,485
14,043

0
12,292

0
24,006

0
24,183

0
23,940

0
32,994

0
42,815

55,507
12,627

73,627
16,494

92,762
31,093

90,099
35,845

91,187
39,477

112,062
60,727

42,880
2,047

57,133
4,443

61,669
5,869

54,254
31,108

51,710
55,888

51,336
57,072

14,482

8,542

26,511
0

32,071
0

2,047

4,443

5,869

31,108

1,571
13,324

2,117
14,341

75,246
61,517

81,795
61,517

91,190
61,517

91,863
61,517

85,595
61,517

79,857
61,517

61,517
0
13,729

61,517
0
20,278

61,517
0
29,673

61,517
0
30,346

61,517
0
24,078
0
24,078

61,517
0
18,340
0
18,340

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

298,972
220,239
78,733
268,018
201,355
66,663
30,954
12,036
1,911
10,125

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

4,844

7,522

8,571

8,438

2,971
426
0
0

17,336
3,356
0
0

16,389
4,101
0
0

12,190
1,317
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

28,640

26,498

24,577

22,856

21,312

19,926

94,074

94,074

94,074

34,074

0
94,074

0
94,074

28,640
2,839

26,498
2,143

24,577
1,920

22,856
1,721

21,312
1,544

19,926
1,386

0
0

0
0

245,979

244,665

239,437

256,380

0
300,129

0
289,906

34

19

17

11

10

26

30,201
173,208

18,018
174,877

14,765
175,737

5,994
203,438

5,994
249,253

6,222
264,524

0
42,536

0
51,751

0
48,918

0
46,937

0
44,873

0
19,133

298,799
111,718

312,189
111,719

328,982
100,331

341,716
89,331

360,478
89,331

379,387
89,331

187,081
0

200,470
0

228,651
0

252,385
0

271,147
0

290,056
0

0
0

0
0

0
0

0
0

(24,180)
20,000

(41,026)
20,000

(64,968)
20,000

(62,480)
20,000

(39,037)
20,000

(69,555)
20,000

20,000
0
(44,180)

20,000
0
(61,026)

20,000
0
(84,968)

20,000
0
(82,480)

20,000
0
(59,037)
53,500
(112,537)

20,000
0
(89,555)
53,500
(143,055)

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

0
0
0
0
0
0
0
4,012
0
4,012

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

12,790

5,289

8,310

12,915

(21,651)
0
0
0

(16,846)
0
0
0

(23,942)
0
0
0

2,488
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

4,028,509

4,449,195

4,733,261

5,855,836

6,177,455

6,204,139

6,730,206

6,590,642

7,929,859

9,200,478

35,608
10,473,377

51,332
11,113,486

4,028,509
274,672

4,410,230
379,332

4,702,826
412,276

5,827,621
514,617

6,077,026
639,458

6,097,376
681,282

38,965

30,435

28,215

33,525
0

21,253
0

5,776,784

5,568,754

5,350,979

6,541,866

31,296
7,630,720

34,178
8,582,802

115,546

39,922

27,845

69,034

162,626

157,188

2,747,023
1,925,491

2,887,167
1,839,545

2,254,144
2,164,671

2,915,550
2,490,258

3,940,944
2,672,797

4,991,811
2,465,556

609,947
378,777

484,643
317,477

58,450
845,869

58,450
1,008,574

0
854,353

0
968,247

5,432,021
4,449,820

5,481,391
4,660,284

5,653,042
4,010,209

7,151,112
5,214,385

7,852,081
5,927,482

8,636,966
6,501,422

982,201
2,036,250

821,107
2,151,331

1,642,833
1,772,007

1,936,727
2,484,561

1,924,599
2,717,822

2,135,544
2,439,947

2,566,604

2,222,650

0
0

0
0

2,036,250

2,151,331

1,772,007

2,484,561

11,945
139,273

15,016
202,281

2,337,022
383,325

2,385,227
459,989

2,659,191
551,987

2,762,029
551,987

3,238,272
634,785

3,710,028
634,785

383,325
0
1,953,697

459,989
0
1,925,238

551,987
0
2,107,204

551,987
0
2,210,042

634,785
0
2,603,487
490,820
2,112,667

634,785
0
3,075,243
494,491
2,580,752

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

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

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

611,272

623,472

693,742

781,553

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

18,833

17,448

17,083

14,365

21,589

21,589

48,027

47,478

53,862

55,217

0
63,068

0
63,068

18,833
4,328

17,448
3,808

17,083
4,411

14,365
4,073

19,981
4,294

19,981
4,294

0
0

0
0

38,470

51,735

72,121

87,718

1,608
66,615

1,608
66,615

1,421

551

1,406

15,951

3,776

3,776

8,807
21,878

12,896
29,662

14,133
46,324

10,430
49,868

7,530
45,884

7,530
45,884

0
6,364

0
8,626

0
10,258

0
11,469

0
9,425

0
9,425

42,507
6,095

53,823
7,700

67,516
8,447

66,277
5,500

41,498
0

41,498
0

36,412
0

46,123
0

59,069
0

60,777
210

41,498
0

41,498
0

0
0

0
0

210

0
0

0
0

14,796
30,000

15,360
30,000

21,688
30,000

35,596
30,000

46,706
30,000

46,706
30,000

30,000
0
(15,204)

30,000
0
(14,640)

30,000
0
(8,312)

30,000
0
5,596

30,000
0
16,706
0
16,706

30,000
0
16,706
0
16,706

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

158,532
86,831
71,701
137,103
61,726
75,378
21,428
7,378
0
7,378

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

7,292

4,367

4,299

7,052

1,805
600
0
0

2,087
600
0
0

7,727
1,400
0
0

16,264
1,800
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,084,869

1,280,838

1,269,866

1,300,242

5,610,999

18,609,172

1,660,397

2,131,375

2,009,584

2,301,420

4,308,640
2,409,997

17,353,689
2,481,626

1,084,869
86,997

1,280,838
94,607

1,269,866
108,136

1,300,242
109,809

1,264,568
123,956

1,217,948
121,730

5,317
8,518

5,317
8,035

1,368,329

1,433,220

1,708,580

2,021,900

23,957
2,977,435

24,183
2,905,763

47,752

158,258

139,232

137,788

829,520

547,731

504,678
657,543

558,275
547,195

596,348
701,321

748,538
856,009

783,221
494,723

1,325,688
558,762

2,548
155,808

500
168,992

2,171
269,508

3,014
276,551

500
869,471

0
473,582

1,339,504
528,263

1,719,470
788,349

1,679,845
776,462

1,634,542
1,037,917

2,463,164
1,723,087

3,837,030
2,211,927

811,241
260,307

931,121
146,576

903,383
122,433

596,625
214,942

740,077
3,499,416

1,625,103
12,489,023

3,390,211

12,367,138

23,756
0

17,756
0

260,307

146,576

122,433

214,942

72,324
13,125

91,794
12,335

853,387
205,547

848,012
226,101

1,176,168
226,101

1,472,658
226,101

2,625,854
226,101

5,188,882
226,101

205,547
0
647,840

226,101
0
621,911

226,101
0
950,067

226,101
0
1,246,557

226,101
0
2,399,753
634,733
1,765,020

226,101
0
4,962,781
2,840,537
2,122,243

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

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

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

183,714

208,134

254,185

322,427

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

109,471

101,706

82,878

82,878

107,228

93,632

237,703

237,167

158,094

158,094

0
232,076

0
180,094

109,471
5,954

101,706
8,066

82,878
5,207

82,878
5,207

104,254
199,900

90,658
240,434

0
1,815

0
1,815

245,700

211,956

203,609

203,609

1,159
160,685

1,159
117,202

623

660

2,943

2,943

421

714

176,198
63,595

152,871
47,703

126,763
58,311

126,763
58,311

108,652
44,968

83,571
28,565

0
5,284

0
10,722

0
15,592

0
15,592

0
6,644

0
4,353

167,889
113,478

184,646
121,422

21,074
0

21,074
0

52,847
16,499

35,002
15,500

54,411
102,818

63,224
75,324

21,074
0

21,074
0

36,348
0

19,503
0

0
0

0
0

102,818

75,324

0
0

0
0

84,464
21,596

53,692
21,595

265,413
21,596

265,413
21,596

215,065
21,596

175,832
21,596

21,596
0
62,868

21,595
0
32,097

21,596
0
243,817

21,596
0
243,817

21,596
0
193,470
399
193,071

21,596
0
154,236
399
153,837

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

32,453

31,956

23,218

23,218

105,340
105,340
0
114,726
87,098
27,629
(9,387)
19,044
5,131
13,913

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)

6,328
1,480
0
0

(21,064)
2,509
0
0

211,358
901
0
0

211,358
901
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

24,531,190

27,526,012

26,291,327

25,867,545

38,798,680

28,950,892

45,221,745

50,752,008

50,618,280

52,242,519

311,133
52,696,899

302,689
30,471,956

24,531,398
2,026,922

27,527,839
2,239,397

26,273,362
2,510,961

25,852,987
2,748,837

24,143,616
2,420,196

13,939,805
1,391,330

(208)

(1,827)

17,965

14,558

8,226
13,794,891

8,928
14,569,953

29,495,128

30,772,854

32,697,481

36,557,848

540,814
19,935,869

129,516
15,869,920

1,212,484

1,031,809

984,849

744,652

905,262

504,758

16,076,584
2,392,310

13,524,180
2,736,849

13,759,363
3,083,246

15,244,882
3,530,134

10,743,823
3,593,603

9,760,375
1,088,874

6,605,451
3,208,299

8,318,477
5,161,539

9,452,133
5,417,890

9,638,699
7,399,481

44,386
4,648,794

121,146
4,394,766

24,889,921
11,908,613

27,533,321
11,292,363

29,109,160
9,929,149

34,589,384
13,047,907

30,878,248
15,437,782

13,963,074
4,099,955

12,981,308
10,963,677

16,240,958
9,181,639

19,180,011
8,068,323

21,541,477
9,793,188

15,440,466
12,461,675

9,863,119
8,409,854

7,561,662

4,450,732

175,942

46,382

6,382

1,005,727
0

1,072,547
0

10,787,735

9,135,257

8,061,941

9,793,188

603,295
3,290,990

593,462
2,293,112

18,172,720
9,044,073

21,583,906
9,053,823

21,811,325
9,065,606

18,042,821
9,068,275

15,394,627
8,655,225

22,447,885
4,992,015

9,044,073
0
9,128,647

9,053,823
0
12,530,083

9,065,606
0
12,745,719

9,068,275
0
8,974,546

8,655,225
0
2,166,646
1,911,758
198,647

4,992,015
0
15,239,532
1,918,906
13,264,384

4,572,756

2,216,338

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

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

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

1,497,223

1,583,054

1,423,030

1,913,982

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

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

1,327,082

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

60%

45
40
35
30
25
20
15
10
5
0

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
5.10

10

4.31

0.27

0
Sales

-10

Gross Profit

Net Profit Before Tax

-4.13

Key Performance Indicators

Profitability/Efficiency Ratios
22.8

25

2009

2009

2010

2010

9.04

10

7.16

20
8.33

Return on
Assets
-6.82

2.82

Return on
Equity

-24.7

Return on
Capital
Emloyed
-14.83

Percentage

Percentage

15
10
5
0
-5
-10
-15
-20
-25

14.7

0.65

1.00

1.14

0
Currtent
Ratio
-5

-10

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,249,056

2,147,810

2,110,162

2,299,777

2,222,745

2,201,162

3,045,811

3,120,758

3,245,188

3,532,872

0
3,716,460

0
3,824,883

2,242,520
144,838

2,146,161
172,407

2,110,162
181,840

2,299,777
174,177

2,220,859
177,399

2,199,216
172,324

6,536

1,649

0
0

0
0

2,934,973

3,247,847

3,637,827

4,756,547

1,887
5,509,273

1,947
6,546,327

122,436

26,399

42,564

10,770

36,469

63,687

2,532,088
82,747

2,827,763
94,529

3,151,303
107,616

4,313,862
113,021

4,964,104
148,791

5,761,915
305,548

0
197,702

0
299,156

0
336,344

0
318,894

0
359,909

0
415,178

3,264,997
2,041,036

3,707,064
2,217,947

4,225,738
2,286,779

5,254,674
2,360,511

5,939,040
2,752,649

6,880,562
2,951,933

1,223,961
854,283

1,489,117
583,828

1,938,959
236,302

2,894,163
319,889

3,186,391
273,600

3,928,629
256,102

133,772

107,259

98,861
0

98,861
0

854,283

583,828

236,302

319,889

40,966
0

49,981
0

1,064,749
74,250

1,104,765
74,250

1,285,949
95,783

1,481,761
95,782

1,519,379
95,783

1,610,825
95,783

74,250
0
990,499

74,250
0
1,030,515

95,783
0
1,190,166

95,782
0
1,385,979

95,783
0
868,872
257,895
610,977

95,783
0
960,318
257,895
702,423

554,724

554,724

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

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

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

323,078

344,393

230,093

279,396

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

411,011

420,630

428,309

419,174

500,529

559,793

576,264

599,926

623,724

629,651

33,180
665,478

2,294
700,005

411,011
17,071

420,630
22,432

428,309
23,031

419,174
212,742

440,875
13,445

461,878
15,244

0
3,380

0
92,812

247,030

198,491

240,672

294,325

23,094
301,386

2,809
354,769

550

554

7,106

557

765

1,974

132,415
67,538

95,312
29,892

109,624
35,431

139,999
50,788

202,272
50,106

265,674
40,981

6,576
39,951

29,444
43,289

30,370
58,141

31,495
71,486

0
48,243

0
46,140

147,617
106,483

117,856
7,355

73,353
22,776

386,427
70,284

165,464
110,969

162,183
93,958

41,134
0

110,501
1,488

50,577
67,788

316,143
13,354

54,495
82,914

68,225
98,757

1,789

238

0
0

0
0

1,488

67,788

13,354

19,790
61,335

33,514
65,005

510,424
50,700

499,777
50,700

527,840
50,700

313,718
76,050

553,537
76,050

653,622
76,050

50,700
0
459,724

50,700
0
449,077

50,700
0
477,140

76,050
0
237,668

76,050
0
236,460
19,445
217,015

76,050
0
338,704
19,445
319,259

241,027

238,868

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

391,280
391,280
0
295,269
160,035
135,234
96,011
53,486
16,045
37,441

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

15,534

28,843

30,651

32,441

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

274,098

259,543

203,219

513,232

492,401

747,473

390,590

393,508

355,067

685,277

0
584,164

0
967,418

274,098
8,430

259,543
17,945

203,219
17,883

513,232
22,244

488,474
26,364

745,006
16,198

0
553

0
135

319,113

256,892

208,313

310,198

3,374
241,100

2,333
540,450

10,842

4,501

7,553

2,955

25,249

14,778

147,153
59,121

126,539
37,447

68,915
8,051

158,192
84,713

143,146
29,113

255,897
142,284

40,526
61,471

33,330
55,075

72,363
51,431

4,258
60,080

0
43,592

76,760
50,731

592,972
292,893

631,560
302,805

416,434
130,025

491,898
191,679

255,252
191,679

498,081
373,651

300,079
95,139

328,755
40,000

286,409
40,000

300,219
17,519

63,573
151,564

124,430
319,175

17,519

13,684

40,000

63,105
0

117,705
0

95,139

40,000

17,519

0
70,941

0
187,787

(94,900)
150,635

(155,125)
150,635

(44,902)
150,635

314,013
237,635

326,685
237,634

470,666
237,635

150,635
0
(245,535)

150,635
0
(305,760)

150,635
0
(195,537)

237,635
0
76,378

237,634
0
(295,068)
35,768
(330,836)

237,635
0
(369,965)
35,768
(405,733)

384,119

602,997

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

999,999
966,739
33,260
871,564
565,923
305,642
128,434
95,005
17,400
77,606

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

57,237

64,884

75,505

82,890

(4,989)
2,351
0
0

(52,053)
2,609
0
0

160,830
3,112
0
0

23,493
4,141
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

8,437,799

7,806,259

7,512,306

7,515,665

21,407,628

21,547,107

13,955,620

14,132,676

14,073,054

14,964,754

132,295
16,069,677

252
16,220,027

8,416,279
595,909

7,786,968
817,915

7,494,543
767,223

7,501,107
743,027

7,684,718
723,283

7,190,161
758,214

21,520

19,291

17,763

14,558

14,005
13,572,874

8,928
14,318,836

10,650,049

10,961,259

13,155,479

16,340,927

3,736
5,071,029

28,930
5,469,824

118,244

268,092

297,480

244,560

169,515

72,754

3,424,597
99,887

1,629,916
156,699

2,495,261
119,188

4,173,311
129,139

2,909,688
162,983

2,355,116
138,790

6,210,232
797,089

7,590,169
1,316,383

8,535,576
1,707,974

9,326,015
2,467,902

0
1,828,843

0
2,903,165

5,421,740
3,495,317

5,484,798
2,014,428

6,640,474
1,800,910

8,714,898
2,302,166

6,392,585
3,279,478

5,237,463
672,269

1,926,423
6,845,500

3,470,370
5,511,125

4,839,564
4,911,549

6,412,732
5,580,842

3,113,107
8,215,229

4,565,193
6,541,364

6,161,208

4,325,000

0
0

0
0

6,845,500

5,511,125

4,911,549

5,580,842

312,580
1,741,442

401,887
1,814,477

6,820,608
3,105,070

7,771,595
3,105,070

9,115,762
3,105,070

9,560,852
3,105,070

11,870,843
3,105,070

15,238,104
3,105,070

3,105,070
0
3,715,538

3,105,070
0
4,666,525

3,105,070
0
6,010,692

3,105,070
0
6,455,782

3,105,070
0
8,765,773
1,150,373
7,615,400

3,105,070
0
12,133,034
1,157,521
10,975,513

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

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

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

221,928

385,562

445,666

553,600

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

269,235

255,983

237,229

237,229

237,229

237,229

460,239

460,146

447,228

447,748

0
447,748

0
447,748

269,235
13,941

255,983
13,240

237,229
12,240

237,229
168,825

237,229
168,825

237,229
168,825

0
0

0
0

17,561

13,538

18,397

351

0
351

0
351

171

358

177

207

207

207

14,002
1,239

1,865
194

1,440
19

144
0

144
0

144
0

0
2,149

0
11,121

0
16,761

0
0

0
0

0
0

66,905
0

58,018
0

55,416
0

57,736
0

57,736
0

57,736
0

66,905
0

58,018
0

55,416
0

57,736
0

57,736
0

57,736
0

0
0

0
0

0
0

0
0

219,891
123,602

211,503
123,602

200,210
123,602

179,844
123,602

179,844
123,602

179,844
123,602

123,602
0
96,289

123,602
0
87,901

123,602
0
76,608

123,602
0
56,242

123,602
0
56,242
0
0

123,602
0
56,242
0
0

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

63,845

63,629

62,764

62,764

89,234

89,234

78,801

75,745

62,764

62,764

0
0

0
0

63,845
270

63,629
216

62,764
0

62,764
0

0
0

0
0

0
88,960

0
88,960

847

883

716

461

274
305

274
305

125

163

55

38

191

191

0
0

0
0

0
0

0
0

0
0

0
0

0
722

0
720

0
661

0
423

0
114

0
114

28,833
0

29,243
0

29,108
0

27,602
25,170

1,927
0

1,927
0

28,833
0

29,243
0

29,108
0

2,432
0

1,927
23,166

1,927
23,166

35,859
35,574

35,269
35,574

35,574
0
285

23,140
0

23,140
0

0
26

0
26

34,372
35,574

35,623
35,574

64,446
35,574

64,446
35,574

35,574
0
(305)

35,574
0
(1,202)

35,574
0
49

35,574
0
(22,063)
0
(22,063)

35,574
0
(22,063)
0
(22,063)

50,935

50,935

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

0
0
0
0
0
0
0
3,167
0
3,167

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

2,686

3,104

6,022

2,795

(1,975)
10
0
0

(1,988)
0
0
0

(1,010)
0
0
0

1,435
173
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

387

333

326

57

573

568

13,003

3,083

3,036

2,774

0
2,774

0
2,774

387
43

333
54

326
7

57
2,716

52
6

47
5

0
0

0
0

1,128

1,401

1,160

1,945

521
1,604

521
1,584

759

1,142

896

1,418

1,598

1,578

0
0

0
0

0
0

0
0

0
0

0
0

0
369

0
259

0
264

0
527

0
6

0
6

13,495
0

13,815
0

13,613
0

12,938
0

0
0

0
0

13,495
0

13,815
0

13,613
0

12,938
0

0
12,595

0
12,214

(11,980)
4,000

(12,081)
4,000

4,000
0
(15,980)

6,586
0

6,201
0

0
6,009

0
6,013

(12,127)
4,000

(10,936)
4,000

(10,418)
4,000

(10,063)
4,000

4,000
0
(16,081)

4,000
0
(16,127)

4,000
0
(14,936)

4,000
0
(14,418)
0
(14,418)

4,000
0
(14,063)
0
(14,063)

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

0
0
0
0
0
0
0
995
0
995

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

713

861

1,186

923

427
150
0
0

339
262
0
0

14
60
0
0

1,316
125
0
0

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

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

H.Key Performance Indicators

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

491,342

454,095

503,267

425,733

362,415

315,552

1,877,932

1,892,136

1,942,382

1,953,648

0
1,990,974

0
2,030,733

491,342
77,096

454,095
76,421

503,132
84,324

425,733
98,321

360,693
103,427

293,070
108,199

135

0
0

0
0

810,409

838,394

771,295

1,270,075

1,722
939,751

22,482
1,008,315

32,178

11,682

3,641

15,022

121,015

173,384

411,491
275,101

413,076
246,290

294,620
291,398

683,183
356,525

326,747
332,029

306,111
370,895

0
91,639

0
167,346

0
181,636

0
215,345

0
159,960

0
157,925

275,986
60,000

309,791
40,813

356,499
74,207

789,312
184,089

365,457
41,215

417,192
0

215,986
0

268,978
0

282,292
67,376

605,223
50,016

324,242
37,898

417,192
26,093

0
0

0
0

67,376

50,016

30,602
7,296

26,093
0

1,025,765
560,400

982,698
560,400

850,687
560,400

856,480
560,400

898,811
560,400

880,582
560,400

560,400
0
465,365

560,400
0
422,298

560,400
0
290,287

560,400
0
296,080

560,400
0
338,411
0
338,411

560,400
0
320,182
0
320,182

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

2,452,646
2,452,646
0
2,310,990
1,683,530
627,460
141,656
68,698
10,890
57,808

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

46,078

51,681

55,545

80,923

(58,897)
8,375
0
0

27,050
676
56,040
0

(102,945)
7,798
0
0

23,347
11,415
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

666,768

740,668

943,955

992,533

1,113,163

1,244,063

1,872,130

2,245,914

2,422,492

2,594,338

2,845
2,634,322

300,143
2,650,301

666,768
45,163

740,668
61,704

943,955
71,158

992,533
85,844

969,334
88,116

907,586
85,578

0
92,064

0
32,150

1,686,748

1,663,521

1,782,874

1,938,874

48,920
1,609,448

4,184
1,558,779

560,592

403,892

458,118

366,644

527,326

168,314

898,964
7,618

978,179
12,081

774,371
17,325

881,259
3,945

607,564
5,481

687,403
61,302

60,122
159,452

77,351
192,018

87,875
445,185

91,844
595,182

0
469,077

0
641,760

204,015
0

197,323
0

677,816
0

516,869
0

230,032
0

240,394
0

204,015
0

197,323
0

677,816
0

516,869
279,678

230,032
263,293

240,394
261,634

0
0

0
0

279,678

64,871
198,422

70,672
190,962

2,149,501
340,685

2,206,866
340,685

2,049,013
340,685

2,134,860
340,685

2,229,286
340,685

2,300,814
340,685

340,685
0
1,808,816

340,685
0
1,866,181

340,685
0
1,708,328

340,685
0
1,794,175

340,685
0
1,888,601
71,490
1,817,111

340,685
0
1,960,129
71,490
1,888,639

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

4,237,268
4,237,268
0
3,937,467
3,075,092
862,375
299,801
124,810
12,376
112,434

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

113,040

91,411

112,221

115,006

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

903,792

868,132

825,114

782,836

743,123

705,900

1,819,031

1,820,556

1,822,875

1,822,875

0
1,820,349

0
1,817,189

903,161
46,286

867,783
46,496

825,047
45,055

782,836
42,211

743,027
39,537

705,804
37,104

631

349

67

0
0

0
0

639,894

728,895

356,930

321,479

96
101,848

96
99,995

163

1,625

2,997

969

1,683

2,654

363,053
113,032

329,576
98,535

25,156
1,964

23,363
51

6,757
0

3,933
0

0
163,646

0
299,159

0
326,813

0
297,096

0
93,408

0
93,408

989,102
270,854

1,040,936
233,628

751,172
0

1,008,566
0

189,645
0

182,872
0

718,248
80,575

807,308
83,940

751,172
302,317

1,008,566
353,037

189,645
579,909

182,872
587,515

80,575

83,940

302,317

474,009
150,000

472,151
150,000

150,000
0
324,009

568,807
0

576,413
0

353,037

5,364
5,738

5,364
5,738

128,555
150,000

(257,288)
150,000

75,417
150,000

35,508
150,000

150,000
0
322,151

150,000
0
(21,445)

150,000
0
(407,288)

150,000
0
(74,583)
337,400
(411,983)

150,000
0
(114,492)
337,400
(451,892)

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

0
0
0
33,474
0
33,474
(33,474)
13,448
0
13,448

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

55,369

69,225

38,867

11,602

49,422
5,107
0
0

57,754
5,026
0
0

(337,144)
1,154
0
0

(48,339)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

244,915

239,389

235,994

754,940

811,866

811,866

410,437

412,351

416,020

342,572

0
942,614

0
942,614

244,915
7,717

239,389
7,440

235,994
7,064

754,940
7,607

746,875
8,107

746,875
8,107

0
2,550

0
2,550

395,323

413,251

488,077

448,218

62,441
199,731

62,441
199,731

1,520

10,792

4,493

2,375

2,642

2,642

103,740
0

63,788
12,567

89,639
5,754

90,450
33,991

101,728
5,676

101,728
5,676

168,675
121,388

221,495
104,609

298,362
89,829

2,550
318,852

44,386
45,298

44,386
45,298

280,832
163,509

267,201
170,673

295,577
214,003

257,545
228,117

194,576
0

194,576
0

117,323
20,987

96,528
14,112

81,574
7,382

29,428
22,682

194,576
23,104

194,576
23,104

6,382

6,382

6,382

0
0

0
0

14,605

7,730

1,000

22,682

0
23,104

0
23,104

338,419
37,450

371,327
37,450

421,112
37,450

922,931
37,450

793,917
37,450

793,917
37,450

37,450
0
300,969

37,450
0
333,877

37,450
0
383,662

37,450
0
885,481

37,450
0
37,032
0
37,032

37,450
0
37,032
0
37,032

719,435

719,435

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

344,967
344,967
0
296,144
197,717
98,427
48,823
31,262
5,574
25,688

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

27,619

23,368

28,550

35,816

(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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

127,262

138,518

149,480

171,672

160,148

177,807

200,644

220,362

240,839

268,800

0
268,800

0
253,656

127,262
9,056

138,518
9,278

149,480
11,932

171,672
11,238

157,175
13,496

174,339
11,613

0
0

0
0

67,079

71,962

61,249

101,264

2,973
70,846

3,468
74,972

2,895

1,077

1,735

9,332

1,894

2,463

20,428
29,500

22,465
37,080

17,833
24,335

29,364
27,377

23,803
23,340

22,046
23,187

0
14,256

0
11,340

0
17,346

0
35,191

0
21,808

0
27,276

113,113
33,049

129,772
34,430

133,710
19,545

188,248
27,096

58,572
4,616

74,386
8,144

80,064
5,268

95,342
6,441

114,165
11,847

161,152
11,160

53,957
102,485

66,242
107,590

5,268

6,441

11,847

75,960
11,109

74,267
11,109

11,109
0
64,851

3,594

4,551

92,089
0

97,089
0

11,160

5,385
1,417

5,951
0

65,172
11,109

73,528
11,109

69,937
11,109

70,802
11,109

11,109
0
63,158

11,109
0
54,063

11,109
0
62,419

11,109
0
9,449
0
9,449

11,109
0
10,313
0
10,313

49,379

49,379

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

390,774
371,277
19,497
371,971
166,364
205,607
18,804
21,331
836
20,495

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

18,460

21,114

17,057

15,228

6,262
1,185
1,333
0

640
1,474
1,111
0

594
1,543
0
0

2,983
1,617
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

440,188

309,610

298,852

288,514

313,139

313,139

614,985

615,009

615,009

614,609

0
614,609

0
614,609

440,188
4,771

309,610
11,211

298,852
10,758

288,514
10,326

278,595
9,919

278,595
9,919

0
34,511

0
34,511

130,232

159,110

170,448

50,013

33
14,519

33
14,519

1,639

1,162

133

133

0
1,001

35,260
47

4,935
147

1,531
172

410
212

410
212

34,511
93,081

114,526
8,115

150,369
14,988

34,511
13,794

0
13,765

0
13,765

317,270
0

155,088
58,079

162,674
0

161,029
15,750

15,702
0

15,702
0

317,270
204,524

97,009
23,625

162,674
0

145,279
0

15,702
153,140

15,702
153,140

169,560

34,964

23,625

48,626
214,657

290,007
214,657

214,657
0
(166,031)

153,140
0

153,140
0

0
0

0
0

306,626
214,657

177,498
214,657

158,817
214,657

158,817
214,657

214,657
0
75,350

214,657
0
91,969

214,657
0
(37,159)

214,657
0
(55,840)
39,387
(95,227)

214,657
0
(55,840)
39,387
(95,227)

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

40,719

1,099

932

901

1,550
1,550
0
11,094
0
11,094
(9,544)
654
11
643

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

(70,494)
0
0
0

(11,827)
9
0
0

(6,048)
145
0
0

(12,053)
15
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

42,975,062

52,266,922

58,263,535

72,014,616

92,147,055

101,103,812

69,096,673

80,737,831

90,582,196

106,983,528

4,475,530
122,020,132

7,058,105
127,395,241

42,451,162
3,113,914

51,758,183
3,418,615

57,801,327
4,681,418

71,057,604
4,670,296

79,741,949
5,970,163

83,498,541
5,903,349

523,900

508,739

462,208

957,012

1,259,712
4,056,255

1,749,745
4,669,953

38,881,979

45,617,264

53,140,938

62,306,422

2,613,609
54,973,861

4,127,469
60,309,818

4,194,345

4,230,246

4,138,980

3,176,889

4,760,072

6,431,343

14,382,254
2,699,383

17,499,077
2,941,314

21,732,416
3,855,199

28,517,439
6,348,583

28,330,111
4,122,967

29,377,211
4,679,869

6,075,433
11,530,564

6,513,682
14,432,945

6,520,561
16,893,782

5,682,571
18,580,940

616,985
17,143,727

865,683
18,955,711

46,260,607
19,544,526

59,456,516
25,116,892

69,304,316
28,952,468

80,265,311
32,869,478

65,602,249
30,003,140

70,355,950
31,000,031

26,716,081
14,011,268

34,339,624
13,566,619

40,351,848
14,659,357

47,395,833
21,199,784

35,599,109
40,707,797

39,355,919
39,907,574

17,229,410

14,896,062

128,823

12,495

9,856,870
0

11,054,578
392,818

13,882,445

13,554,124

14,659,357

21,199,784

610,248
13,011,270

651,032
12,913,083

21,585,166
8,589,698

24,861,051
8,760,194

27,440,800
9,528,077

32,855,943
9,900,358

40,810,872
11,188,197

51,150,106
12,434,606

8,364,591
225,107
12,995,468

8,687,194
73,000
16,100,857

9,455,077
73,000
17,912,723

9,822,575
77,783
22,955,585

11,115,697
72,500
16,874,473
2,553,550
6,566,624

12,362,106
72,500
22,041,652
3,445,288
9,125,399

12,748,202

16,673,847

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

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

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

11,895,770

14,988,046

17,926,813

22,208,245

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

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

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%

0
Non-Current
Assets

Current Assets

Current
Liabilities
2010

2009

Non-Current
Shareholders
Laibilities
Equity
Growth

Growth & Composition of Operations

2009

2010

Growth
40%

300
35.6%

35%

Billion Rs

250

30%

29.0%

200

25%
20%

150

15%

14.4%

100

10%
50

5%

0%

Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
41

42.36

22.28

2009

2009

10

2010

22.57

10.73 12.82

Percentage

Percentage

45
40
35
30
25
20
15
10
5
0

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
Return on
Capital
Emloyed

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
30,557,215
2,819,664
13,867,462
1,575,721
554,071
11,740,298
40,710,129
25,121,344
15,588,785
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

0.12
8.38
1.86
0.90
0.75
84.71
3.15
3.53
15.48
7.37
2.57
6.10
1.45
3.69
0.13
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

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

Billion Rs

80
70
60
50
40
30
20
10
0

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

2010

Percentage

12

2009

2009

14

3.69

4
3.15

3.5
3

7.37 7.42
3.53 4.42

Percentage

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

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

396,141

393,173

384,382

395,322

573,619

752,031

756,128

774,018

785,167

815,721

220,908
793,815

391,222
819,304

396,141
21,419

393,173
20,858

384,382
19,941

395,322
20,462

351,657
21,759

356,155
20,991

0
0

0
0

154,385

116,480

74,773

91,092

1,055
336,523

4,654
586,848

104

2,991

842

11,165

59,921

95,178

0
4

0
0

0
0

0
0

109,737
0

274,773
0

0
154,277

0
113,489

0
73,931

0
79,927

0
166,865

0
216,896

1,110,518
70,171

1,205,359
0

1,179,037
3,010

1,065,446
0

274,863
0

584,346
379,924

1,040,347
109,661

1,205,359
0

1,176,027
0

1,065,446
0

274,863
1,120,104

204,422
551,662

109,661

20,068

435,551
0

509,882
0

0
684,553

0
21,713

(669,653)
146,667

(695,706)
146,667

(719,882)
146,667

(579,032)
146,667

(484,825)
146,667

202,871
792,617

146,667
0
(816,320)

146,667
0
(842,373)

146,667
0
(866,549)

146,667
0
(725,699)

146,667
0
(695,878)
0
(695,878)

792,617
0
(650,314)
0
(650,314)

64,386

60,568

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

728,138
728,138
0
560,525
478,176
82,349
167,613
31,473
0
31,473

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

29,698

9,653

7,767

18,886

(10,209)
328
0
0

(33,153)
464
0
0

(26,096)
537
0
0

138,554
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

286,075

753,498

742,762

800,512

847,793

828,315

493,799

1,000,279

1,027,862

1,124,660

0
1,210,293

1,772
1,232,819

286,075
16,768

753,498
40,327

742,762
38,712

800,512
39,046

846,516
41,508

824,398
44,644

0
0

867
0

347,167

407,203

397,393

517,886

1,277
425,013

1,277
350,467

28,090

18,684

21,335

46,142

55,102

34,085

242,393
0

289,612
2,698

267,296
0

173,825
197,562

284,680
0

8,449
222,549

0
76,684

0
96,209

0
108,762

0
100,357

0
85,232

0
85,384

460,301
114,428

495,249
169,420

710,484
236,410

560,031
348,143

302,494
69,329

123,422
20,156

345,873
32,887

325,829
18,411

474,074
23,758

211,888
313,940

233,165
503,693

103,266
501,708

32,887

18,411

23,758

140,054
57,636

647,041
57,636

57,636
0
82,418

55,288

34,657

239,324
0

239,324
0

313,940

0
209,081

0
227,727

405,913
57,636

444,427
57,637

466,620
57,637

553,652
57,637

57,636
0
589,405

57,636
0
348,277

57,637
0
386,790

57,637
0
128,352
0
128,352

57,637
0
228,038
0
228,038

280,632

267,977

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

1,156,966
1,156,966
0
887,465
690,303
197,161
269,502
48,500
1,178
47,322

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

28,046

28,424

24,830

35,195

22,945
1,739
2,809
0

41,754
0
0

(172,686)
2,642
0
0

63,392
261
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

887,800

843,213

803,884

2,082,835

2,376,551

2,066,027

1,384,192

1,388,597

1,429,910

2,855,262

65,910
3,163,910

149,049
2,864,195

887,300
71,876

843,113
68,212

803,884
63,347

2,082,835
120,517

2,249,724
145,233

1,860,428
123,173

500

100

16,358
28,629

10,768
14,502

793,985

835,332

659,198

1,685,877

15,930
1,356,024

31,280
1,978,989

6,665

10,907

32,378

48,417

12,504

29,613

555,913
8,014

612,481
43,686

300,953
121,125

1,036,195
37,997

813,761
208,254

991,194
343,043

0
223,393

0
168,258

30,750
173,992

46,432
516,836

19,500
302,005

11,550
603,589

944,942
300,535

932,956
530,118

719,556
353,549

1,820,627
653,603

1,356,169
688,035

2,100,974
1,077,504

644,407
0

402,838
93,182

366,007
18,637

1,167,024
1,078,295

668,134
1,250,780

1,023,470
697,141

874,974

260,820

301,346
0

0
392,818

93,182

18,637

1,078,295

0
74,460

0
43,503

736,843
173,623

652,407
173,623

724,889
173,623

869,790
173,623

1,125,626
173,623

1,246,901
173,623

173,623
0
563,220

173,623
0
478,784

173,623
0
551,266

173,623
0
696,167

173,623
0
952,003
952,003
0

173,623
0
1,073,278
1,073,278
0

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

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

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

99,700

99,075

160,913

162,126

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,456,103

1,472,955

1,527,982

2,264,422

2,480,127

2,835,039

2,386,871

2,513,005

2,680,866

3,345,655

111,297
3,655,933

164,616
4,143,691

1,456,103
108,439

1,472,955
109,311

1,527,982
113,739

2,264,422
116,012

2,216,624
169,562

2,517,325
187,573

0
143,772

0
143,934

737,715

600,705

810,082

1,511,304

8,434
1,322,595

9,164
1,389,425

65,088

48,694

47,597

86,263

107,769

140,429

207,485
99,352

230,809
43,166

393,723
144,861

1,009,052
11,314

963,870
0

965,121
0

31,718
334,072

8,607
269,429

10,263
213,638

37,751
366,924

0
250,956

0
283,875

1,144,312
641,714

1,005,591
502,948

1,074,601
389,634

2,037,889
986,492

1,283,079
855,132

1,431,018
718,032

502,598
225,287

502,643
145,038

684,967
395,840

1,051,397
265,761

427,947
877,137

712,986
970,364

357,994

407,445

79,982

0
0

0
0

145,305

145,038

395,840

265,761

27,622
491,521

0
562,919

824,219
185,703

923,031
185,703

867,623
185,703

1,472,076
185,703

1,642,506
185,703

1,823,082
185,703

185,703
0
638,516

185,703
0
737,328

185,703
0
681,920

185,703
0
1,286,373

185,703
0
691,371
0
0

185,703
0
928,612
0
928,612

765,432

708,767

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

4,249,981
3,630,845
619,136
3,567,029
3,259,831
307,198
682,952
206,752
14,592
192,160

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

92,833

119,600

131,707

237,314

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

797,911

768,342

730,194

730,194

1,399,558

2,223,067

1,314,183

1,326,538

1,329,270

1,329,270

0
1,943,220

0
2,849,784

797,911
44,077

768,342
44,429

730,194
42,663

730,194
42,663

1,266,002
45,202

2,082,902
90,035

0
75,093

0
81,626

221,922

379,008

330,852

330,852

58,463
704,106

58,539
659,864

90,557

123,603

16,354

16,354

13,824

8,410

43,139
0

130,761
7,029

104,602
80,120

104,602
80,120

357,304
158,294

285,804
93,548

0
88,226

0
117,615

0
129,776

0
129,776

0
174,684

0
272,103

562,123
207,568

622,556
232,180

657,688
264,675

657,688
264,675

366,682
242,882

574,275
474,812

354,555
487,343

390,376
448,484

393,013
406,307

393,013
406,307

123,800
1,276,185

99,463
1,294,670

779,151

826,551

142,172
0

162,172
0

487,343

448,484

406,307

406,307

5,889
348,974

5,968
299,979

(29,633)
244,072

76,310
244,071

(2,949)
244,072

(2,949)
244,072

460,797
244,072

1,013,987
244,072

244,072
0
(273,705)

244,071
0
(167,761)

244,072
0
(247,021)

244,072
0
(247,021)

244,072
0
216,725
0
216,725

244,072
0
43,811
0
43,811

726,104

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

48,691

54,280

56,651

56,651

1,269,457
1,269,457
0
1,166,379
1,278,609
(112,229)
103,078
55,792
2,079
53,712

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)

(35,758)
4,164
0
0

135,064
6,843
0
0

(72,391)
6,869
0
0

(72,391)
6,869
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

220,031

341,093

360,569

1,132,697

1,104,668

1,047,777

639,786

772,123

803,808

1,589,050

4,338
1,584,375

0
1,589,299

220,031
11,104

341,093
11,448

360,569
12,210

1,132,697
13,114

1,075,010
53,011

1,026,557
52,855

0
0

0
0

612,532

464,821

592,573

155,680

25,320
111,586

21,220
120,245

50,582

79,006

71,425

29,413

7,925

2,098

248,063
0

238,426
1,991

406,537
1,189

6,525
663

4,185
191

9,752
0

215,000
98,887

0
145,398

0
113,422

0
119,079

0
99,285

0
108,395

647,462
469,753

586,758
362,602

873,840
627,787

605,095
57,006

346,911
38,674

168,040
50,237

177,709
194,285

224,156
134,892

246,053
148,787

548,089
210,636

308,237
502,616

117,803
950,146

167,621

113,132

143,400
0

641,097
0

194,285

134,892

148,787

210,636

0
191,596

0
195,917

(9,184)
94,500

84,264
94,500

(69,485)
94,500

472,646
94,500

366,727
94,500

49,836
94,500

94,500
0
(103,684)

94,500
0
(10,236)

94,500
0
(163,985)

94,500
0
378,146

94,500
0
(322,859)
0
0

94,500
0
(616,117)
0
(616,117)

595,086

571,453

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

579,326
579,326
0
606,222
519,097
87,125
(26,896)
50,629
2,332
48,298

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

37,651

43,187

45,732

45,967

12,844
3,363
0
0

(20,732)
4,400
0
0

(139,060)
3,226
0
0

(26,171)
0
0
0

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

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
636,927
155,000
481,927
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

0.00
1.63
0.00
0.20
0.15
256.54
-1.46
31.99
-14.64
-36.63

0.01

-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
0.23
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

0.00
0.42

-1.39
-44.57
18.86
94.49

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
1,015,823
20,971
701,368
54,007
0
239,477
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
1.12
0.72
90.60
2.93
-3.50
-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

3,343,051

216,030
3,425,941

320,891
3,467,256

3,128,088
153,592

3,022,160
147,243

0
0

0
0

0
1,491,214

0
1,391,773

25,662

37,576

1,064,542
0

827,489
143,247

0
401,010

0
383,461

1,983,804
1,153,084

2,050,349
1,330,254

830,720
1,510,347

720,095
1,225,243

1,485,362

1,211,835

0
0

0
0

2,787
22,198

8,060
5,348

1,341,181
990,200

1,459,232
990,200

990,200
0
350,981
0
350,981

990,200
0
469,032
0
469,032

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

4,749,066
3,970,587
778,479
4,095,161
3,659,483
435,678
653,905
113,850
25,480
88,370

167,744
577,054
562,575
353,575
23,312
0
0
1,301,735

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
541,093
3,110
170,442
65,437
142,976
159,128
833,814
449,631
384,183
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

0.25
4.37
3.16
2.07
0.65
98.43
7.97
-11.37
-55.63
-45.64

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

11.23

11.01

10.36

8.21

12.16
-0.48
-6.31
0.03
-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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,889,957

4,064,222

3,905,234

3,969,842

3,695,736

4,467,503

4,065,352

5,411,068

5,579,287

5,949,835

362,860
5,587,794

0
6,936,903

2,889,957
197,690

4,031,103
205,422

3,869,946
329,375

3,934,554
308,221

3,328,218
244,672

4,467,473
210,395

33,119

35,288

35,288

0
0

0
0

3,715,787

2,995,473

3,199,070

2,962,894

4,658
2,641,850

30
1,921,563

18,750

28,855

15,313

35,277

10,613

13,156

1,797,217
158,695

577,528
192,139

862,076
211,640

828,021
1,445,876

748,380
40,418

109,124
33,599

333,060
1,408,065

0
2,196,951

200,655
1,909,386

58,695
595,025

28,392
1,814,047

17,882
1,747,803

4,388,437
2,237,674

4,472,632
1,907,465

5,168,148
2,397,027

5,635,204
3,206,434

4,627,235
3,062,171

4,236,366
3,072,121

2,150,763
876,553

2,565,167
614,756

2,771,121
256,403

2,428,770
299,041

1,565,064
898,370

1,164,245
815,886

586,651

356,865

24,990

12,495

196,605
0

0
0

851,563

602,261

256,403

299,041

0
115,114

0
459,021

1,340,754
365,120

1,972,307
365,120

1,679,753
365,120

998,491
365,120

811,980
365,120

1,336,815
365,120

365,120
0
975,634

365,120
0
1,607,187

365,120
0
1,314,633

365,120
0
633,371

365,120
0
(461,563)
0
(461,563)

365,120
0
(439,596)
0
(439,596)

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

908,423

1,411,291

2,439,050
2,081,586
357,464
2,419,704
1,752,191
667,514
19,346
115,845
16,812
99,033

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

86,026

130,288

157,845

159,525

57,518
26,443
0
0

131,035
42,917
0
0

(352,070)
26,478
0
0

(740,698)
33,300
0
0

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

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
700,500
219,830
480,670
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

0.24
2.02
3.68
1.58
1.17
92.09
2.42
7.64
28.69
19.19
2.58
5.03
3.44
4.82
0.07
4.51
20.65

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

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
152,969
4,149
1,989
0
0
146,831
356,599
49,475
307,124
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

0.01
6.62
0.00
0.77
0.43
95.14
79.28
-5.61
604.52
-11.47

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

5.32

3.10

2.73

55.75

606.01
-0.12
-7.17
0.03
-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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

234,886

225,839

289,438

343,466

363,284

354,659

564,857

575,735

661,311

721,788

15,871
774,106

18,557
801,003

234,886
16,318

225,839
16,969

289,438
22,367

343,466
28,225

344,071
30,871

332,449
38,667

0
0

0
0

244,028

255,740

219,952

338,198

3,343
321,197

3,653
436,433

4,256

16,535

14,090

10,534

52,068

89,627

79,390
113,372

86,206
111,976

70,302
80,519

179,304
69,786

139,742
70,878

230,971
34,668

0
47,010

0
41,023

0
55,041

1,000
77,574

0
58,508

0
81,167

119,738
89,594

109,097
75,617

62,301
30,916

169,190
82,048

70,281
0

109,344
864

30,144
0

33,480
0

31,385
0

87,142
0

70,281
40,490

108,480
45,548

1,428

0
0

0
0

0
40,490

0
44,120

359,176
200,000

372,482
200,000

447,089
200,000

512,474
200,000

573,710
200,000

636,200
200,000

200,000
0
159,176

200,000
0
172,482

200,000
0
247,089

200,000
0
312,474

200,000
0
373,710
10,000
363,710

200,000
0
436,200
10,000
426,200

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

1,266,208
797,194
469,015
872,234
645,750
226,484
393,975
192,816
120,469
72,347

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

110,804

107,384

152,192

177,949

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

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

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
2,409,420
1,595,667
211,039
353,397
0
249,317
1,265,349
426,000
839,349
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

1.54
1.24
7.71
1.20
1.90
81.15
0.55
18.29
29.21
28.65
2.86
21.72
14.18
14.28
0.81
5.00
25.56

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

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
351,985
146,120
35,240
0
0
170,624
392,148
231,254
160,894
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

0.37
12.33
0.00
0.77
0.90
81.22
1.57
2.61
7.33
5.06

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

12.59

3.93

2.43

5.68

29.93
1.29
3.54
0.45
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
269,247
28,938
103,979
5,252
0
131,078
339,678
127,138
212,540
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

0.10
4.26
0.36
2.20
0.79
96.62
1.21
-13.91
-24.97
-23.73

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

14.12
-0.44
-5.97
-0.16
-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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,507,846

3,094,551

3,191,943

4,864,442

8,257,771

8,849,111

3,138,725

3,883,662

4,162,471

5,878,169

25,574
9,035,673

46,063
9,484,823

2,507,846
138,466

3,094,551
159,458

3,191,943
194,952

4,322,276
199,935

6,829,408
434,173

6,893,409
443,216

542,166

608,311
745,602

608,311
1,216,921

1,127,128

2,084,232

4,051,494

3,695,631

48,877
4,074,576

84,409
3,316,306

153,030

5,357

22,022

3,372

6,578

10,942

0
75,240

0
169,524

358,189
358,189

876,392
130,216

1,436,297
36,588

206,682
143

0
898,858

986,308
923,043

1,583,808
1,729,286

1,080,166
1,605,485

0
2,595,114

0
3,098,539

1,258,489
918,997

1,670,407
373,993

3,620,464
2,763,918

4,542,946
2,125,316

5,492,666
4,458,967

4,358,259
3,298,773

339,492
1,399,063

1,296,414
2,332,649

856,546
2,414,326

2,417,630
2,553,882

1,033,699
4,848,826

1,059,486
4,396,217

3,705,738

3,100,554

260,900
0

239,324
0

1,399,063

2,332,649

2,414,326

2,553,882

26,886
855,302

37,955
1,018,383

977,422
226,349

1,175,727
260,302

1,208,647
315,362

1,463,245
381,254

1,990,855
435,458

3,410,942
489,890

226,349
0
751,073

260,302
0
915,425

315,362
0
893,285

381,254
0
1,081,991

435,458
0
1,555,398
0
1,555,398

489,890
0
2,921,052
0
2,921,052

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

9,898,459
9,898,459
0
7,510,054
6,666,948
843,107
2,388,404
357,934
15,188
342,746

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

114,827

370,808

162,091

358,919

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

855,060

839,402

818,108

1,095,307

1,322,012

1,479,149

1,278,712

1,313,278

1,341,404

1,670,313

1,753
1,959,237

176,185
2,009,115

855,060
52,504

839,402
51,715

818,108
49,419

1,095,307
51,710

1,315,592
68,665

1,297,606
67,865

0
0

0
0

126,468

165,387

113,781

385,923

4,667
184,128

5,358
156,074

13,882

5,358

14,812

8,026

39,658

6,270

6,966
489

59,861
0

5,593
0

252,584
0

44,594
7,190

24,079
6,421

0
105,131

0
100,168

0
93,376

0
125,313

0
92,685

0
119,304

496,522
73,081

632,483
77,823

335,005
81,260

1,177,920
73,081

646,885
78,152

720,463
73,081

423,441
409,432

554,660
329,239

253,745
615,314

1,104,839
180,728

568,733
708,026

647,382
735,208

107,647

34,566

23,851

577,963
0

677,089
0

385,581

329,239

615,314

180,728

19,149
3,267

23,554
0

75,574
160,175

43,067
160,175

(18,430)
160,175

122,582
160,175

151,230
160,175

179,551
160,175

160,175
0
(84,601)

160,175
0
(117,108)

160,175
0
(178,605)

160,175
0
(37,593)

160,175
0
(332,114)
0
(332,114)

160,175
0
(301,580)
0
(301,580)

323,169

320,956

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

1,075,493
1,075,493
0
989,857
617,642
372,215
85,636
62,286
3,656
58,631

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

35,400

39,561

47,893

54,098

(51,501)
2,815
0
0

(18,464)
3,684
0
0

(57,209)
4,289
0
0

(49,898)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

690,986

1,303,162

1,507,054

1,559,495

1,648,696

1,664,441

985,762

1,617,176

1,857,541

1,970,976

433,369
1,664,990

473,397
1,613,143

690,986
35,174

1,303,162
33,939

1,507,054
36,572

1,559,495
63,340

1,196,336
61,901

1,124,456
53,684

0
0

0
0

228,314

393,162

352,353

582,757

18,991
341,213

66,588
412,015

2,909

9,553

1,171

8,772

13,350

2,661

66,437
0

218,957
4,168

176,013
4,410

358,440
40,279

92,362
0

124,203
52,445

0
158,968

0
160,484

0
170,759

0
175,266

0
235,501

0
232,706

270,164
143,668

585,813
348,548

768,918
317,666

1,044,824
250,466

500,024
130,771

579,661
286,971

126,496
104,889

237,265
338,366

451,252
468,648

794,358
520,135

369,253
817,488

292,691
898,324

399,310

300,517

416,869
0

446,498
0

104,889

338,366

468,648

520,135

0
1,309

0
151,309

544,247
94,868

772,145
94,868

621,841
109,098

577,293
109,098

672,397
109,098

598,471
109,098

94,868
0
449,379

94,868
0
677,277

109,098
0
512,743

109,098
0
468,195

109,098
0
(85,042)
26,879
(111,922)

109,098
0
(158,968)
26,879
(185,847)

648,341

648,341

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

1,379,043
1,379,043
0
1,196,613
782,886
413,728
182,430
71,447
2,599
68,849

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

57,133

54,615

53,074

60,205

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

410,787

394,306

419,795

425,336

688,396

1,028,023

805,522

821,393

879,904

916,961

39,019
999,499

38,213
1,380,332

410,787
32,849

394,306
33,113

419,795
34,280

425,336
34,690

473,156
36,497

809,740
47,902

0
174,229

0
176,077

413,714

411,195

343,838

766,253

1,992
430,048

3,992
707,368

210

26,526

2,210

1,658

1,341

113,747

203,810
14,520

139,740
0

118,387
31,073

437,058
30,512

141,297
112,101

253,837
90,561

56,654
138,520

83,654
161,275

97,891
94,277

151,507
145,518

39,053
136,256

91,481
157,742

585,655
136,546

525,919
206,386

493,018
137,138

888,290
182,587

482,161
108,033

751,722
77,373

449,109
72,931

319,533
49,779

355,880
152,204

705,703
127,511

374,128
302,602

674,349
461,255

90,631

219,972

0
0

0
0

72,931

49,779

152,204

127,511

4,868
207,103

5,742
235,541

165,915
98,437

229,803
98,438

118,411
98,437

175,788
98,438

333,681
118,125

522,414
142,931

98,437
0
67,478

98,438
0
131,365

98,437
0
19,974

98,438
0
77,350

118,125
0
215,556
63,281
152,275

142,931
0
379,483
63,281
316,202

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

2,387,446
2,387,446
0
1,994,378
1,416,671
577,707
393,068
144,200
5,367
138,833

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

35,237

47,378

46,252

78,211

4,678
5,600
0
0

98,923
9,821
0
0

(110,357)
6,450
0
0

60,564
2,414
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

308,051

322,115

398,069

417,044

753,477

986,239

661,237

690,091

785,035

822,423

91,608
916,682

123,281
1,120,505

308,051
15,711

322,115
16,796

398,069
20,695

417,044
22,006

493,340
21,632

683,949
31,866

0
167,791

2,200
176,077

632,203

745,867

606,163

835,365

738
559,658

732
501,201

5,865

12,044

10,064

13,297

35,036

31,152

198,805
3,184

336,408
0

183,799
4,691

426,595
0

203,171
84,050

125,715
90,979

308,859
115,490

282,023
115,392

306,453
101,156

215,486
179,987

63,828
173,573

56,616
196,739

431,175
102,399

549,284
348,915

613,380
403,366

810,242
153,802

524,513
214,684

594,558
206,322

328,776
217,314

200,369
114,880

210,014
31,826

656,440
177,778

309,829
339,086

388,236
338,231

133,334

88,890

0
0

0
0

217,314

114,880

31,826

177,778

0
205,752

0
249,341

291,765
63,888

403,818
63,888

359,026
63,888

264,389
63,888

449,536
63,888

554,651
70,277

63,888
0
227,877

63,888
0
339,930

63,888
0
295,138

63,888
0
200,501

63,888
0
256,592
256,592
0

70,277
0
311,318
311,318
0

129,056

173,056

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

1,803,234
1,803,234
0
1,471,620
1,229,396
242,224
331,614
69,309
2,571
66,738

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

35,189

45,370

43,876

80,224

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

289,992

262,840

239,349

221,120

215,850

207,882

688,059

688,212

673,493

694,223

15,219
692,765

0
720,294

289,992
30,395

262,840
27,366

239,349
26,903

221,120
22,946

199,204
21,554

206,455
20,278

0
0

0
0

165,976

44,901

52,571

87,683

1,427
100,351

1,427
171,537

2,870

1,289

1,671

1,337

2,488

18,276

122,789
150

1,621
150

7,208
8,199

44,856
1,592

65,590
0

77,650
1,749

0
40,167

0
41,841

0
35,493

0
39,898

0
32,273

0
73,862

640,103
283,513

731,395
373,728

802,594
81,243

885,166
520,540

421,886
291,439

425,573
331,355

356,590
424,659

357,667
357,867

721,351
319,294

364,626
220,209

130,448
530,471

94,218
450,808

143,773

64,110

0
0

0
0

424,659

357,867

319,294

220,209

0
386,698

0
386,698

(608,794)
141,000

(781,521)
141,000

(829,968)
141,000

(796,572)
141,000

(636,157)
141,000

(496,962)
141,000

141,000
0
(749,794)

141,000
0
(922,521)

141,000
0
(970,968)

141,000
0
(937,572)

141,000
0
(777,157)
0
(777,157)

141,000
0
(637,962)
0
(637,962)

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

649,457
649,457
0
556,161
473,538
82,623
93,295
59,732
835
58,898

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

25,877

25,321

27,302

37,748

(111,836)
990
0
0

(17,828)
2,800
0
0

(44,745)
2,500
0
0

33,396
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

733,724

1,284,521

1,461,495

1,349,771

1,351,654

1,205,594

1,270,573

1,873,144

2,092,376

2,118,857

8,803
2,118,216

9,605
2,133,679

733,724
51,731

1,284,521
53,242

1,461,495
52,924

1,349,771
143,319

1,216,649
138,801

1,107,994
126,202

0
124,360

0
85,862

584,697

592,497

702,139

584,555

1,842
247,118

2,133
330,727

237,671

18,206

14,856

16,250

9,766

38,627

87,042
33,316

374,592
24,115

471,149
11,407

318,059
40,771

133,203
3,112

160,060
16,872

127,766
98,902

88,112
87,472

81,208
123,519

105,304
104,171

0
101,037

0
115,168

269,867
19,624

453,489
283,445

823,695
645,423

759,465
554,942

448,038
387,683

781,124
655,848

250,243
13,307

170,044
431,053

178,272
361,155

204,523
266,937

60,355
185,379

125,276
50,880

132,872

0
0

0
0

13,307

431,053

361,155

266,937

51,145
1,362

49,757
1,123

1,035,247
113,757

992,476
113,757

978,784
136,508

907,924
150,159

965,355
150,159

704,317
165,175

113,757
0
921,490

113,757
0
878,719

136,508
0
842,276

150,159
0
757,765

150,159
0
815,196
134,233
680,963

165,175
0
539,142
119,217
419,925

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

1,714,912
1,515,845
199,067
1,443,161
944,883
498,278
271,751
103,836
28,433
75,403

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

92,574

78,742

86,139

117,065

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

195,989

177,187

160,263

150,498

71,963

65,688

531,157

531,168

531,205

537,037

0
550,771

0
551,220

195,989
20,980

177,187
18,850

160,263
16,924

150,498
16,253

71,831
7,852

65,630
7,316

0
0

0
0

205,999

37,835

57,342

101,518

132
162,631

58
204,345

2,114

922

667

1,998

1,397

15,699

174,208
174,208

0
0

13,384
1,586

53,338
1

122,220
0

134,045
0

0
(144,531)

0
36,913

0
41,705

0
46,181

0
39,014

0
54,602

918,336
66,192

781,189
162,691

882,031
88,229

943,919
22,595

425,027
157,350

385,453
146,626

852,144
178,036

618,498
87,727

793,802
22,166

921,324
0

267,676
389,942

238,827
389,553

22,005

21,616

70,000
0

70,000
0

0
297,937

0
297,937

178,036

87,727

22,166

(694,384)
108,500

(653,894)
108,500

(686,592)
108,500

(691,903)
108,500

(580,374)
108,500

(504,973)
108,500

108,500
0
(802,884)

108,500
0
(762,394)

108,500
0
(795,092)

108,500
0
(800,403)

108,500
0
(688,874)
0
(688,874)

108,500
0
(613,473)
0
(613,473)

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

391,988
391,988
0
349,768
328,897
20,871
42,220
36,045
1,193
34,852

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

13,741

16,727

17,368

19,711

(79,678)
1,000
0
0

12,824
3,500
0
0

(30,197)
2,500
0
0

(5,312)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

707,292

676,527

645,049

645,049

1,277,018

1,306,235

1,185,569

1,187,314

1,190,478

1,190,478

0
1,858,068

5,000
1,906,277

707,292
38,464

676,527
36,888

645,049
35,604

645,049
35,604

1,240,080
41,783

1,220,658
67,631

0
36,063

0
79,767

110,192

199,949

171,813

171,813

875
394,297

812
484,621

12,066

45,306

27,545

27,545

1,787

24,742

29,753
3,560

75,400
1,091

60,707
24,618

60,707
24,618

263,009
69,516

99,076
300,920

0
64,813

0
78,152

0
58,943

0
58,943

0
59,985

0
59,882

764,593
180,496

581,844
259,648

743,404
303,915

743,404
303,915

601,302
44,560

540,120
206,310

584,097
256,973

322,196
479,919

439,489
380,912

439,489
380,912

556,742
549,294

333,810
671,403

257,964

422,473

0
0

0
0

256,973

479,919

380,912

380,912

4,869
286,460

5,266
243,664

(204,082)
223,080

(185,287)
223,080

(307,454)
223,080

(307,454)
223,080

520,720
223,080

579,333
223,080

223,080
0
(427,162)

223,080
0
(408,367)

223,080
0
(530,534)

223,080
0
(530,534)

223,080
0
(157,609)
0
(157,609)

223,080
0
(76,324)
0
(76,324)

455,249

432,577

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

920,514
920,514
0
903,447
758,381
145,065
17,067
96,036
753
95,283

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

30,308

34,251

40,856

40,856

(18,187)
2,596
0
0

39,394
4,268
0
0

(117,215)
4,951
0
0

(117,215)
4,951
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

19,320

18,892

18,484

18,065

17,657

17,657

112,691

112,691

112,691

112,691

0
112,691

0
112,691

19,320
439

18,892
428

18,484
408

18,065
420

17,657
419

17,657
419

0
0

0
0

18,301

18,377

18,162

18,162

0
18,187

0
18,187

226

215

26

26

0
0

0
0

0
0

0
0

0
0

0
0

0
18,075

0
18,162

0
18,162

0
18,162

0
18,162

0
18,162

72,672
27,304

71,141
26,721

71,575
25,778

66,250
20,941

70,505
21,215

70,505
21,215

45,368
256,767

44,420
256,767

45,797
256,767

45,309
256,767

49,290
256,767

49,290
256,767

256,767

256,767

0
0

0
0

0
0

0
0

256,767

256,767

256,767

256,767

(291,818)
17,016

(290,639)
17,016

(291,696)
17,016

(286,790)
17,016

(291,428)
17,016

(291,428)
17,016

17,016
0
(308,834)

17,016
0
(307,655)

17,016
0
(308,712)

17,016
0
(303,806)

17,016
0
(308,444)
2,859
(311,303)

17,016
0
(308,444)
2,859
(311,303)

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

0
0
0
0
0
0
0
4,656
0
4,656

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

5,575

1,101

1,456

843

(5,233)
0
0
0

1,182
3
0
0

(1,059)
0
0
0

4,906
0
0
0

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

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

H.Key Performance Indicators

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

555,559

539,305

524,078

516,797

496,254

479,731

656,343

671,082

684,769

708,109

771
713,300

0
725,125

555,559
29,637

539,305
31,020

524,078
29,541

516,797
30,969

493,260
28,746

477,508
27,605

0
0

0
0

108,403

129,250

128,007

121,230

2,223
277,084

2,223
240,366

2,821

5,407

2,647

14,410

15,841

6,148

12,400
0

6,726
33,400

6,747
5,720

30,697
11,366

139,201
36,728

88,197
49,519

0
93,182

0
83,717

0
112,893

0
64,757

0
85,314

0
96,502

448,160
37,338

425,580
36,429

461,541
39,597

410,771
51,818

318,274
45,188

199,774
60,693

410,822
117,844

389,151
101,415

421,944
84,092

358,953
64,970

273,086
225,866

139,081
168,648

44,782

23,159

31,030
0

0
0

117,844

101,415

84,092

64,970

14,826
135,228

19,674
125,815

97,958
119,460

141,560
119,460

106,452
119,460

162,286
119,460

229,198
119,460

351,675
119,460

119,460
0
(21,502)

119,460
0
22,100

119,460
0
(13,008)

119,460
0
42,826

119,460
0
60,114
0
60,114

119,460
0
186,002
0
186,002

49,624

46,213

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

1,679,489
1,679,489
0
1,453,985
1,528,005
(74,020)
225,504
74,405
1,419
72,986

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

40,606

51,155

50,463

80,119

(19,855)
3,129
0
0

94,187
5,716
0
0

(12,373)
5,847
0
0

134,232
20,020
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,630,152

1,644,117

1,681,232

1,693,408

1,925,508

1,965,041

2,279,000

2,378,770

2,258,832

2,593,022

58,460
2,042,232

121,334
2,915,894

1,630,152
71,806

1,644,117
85,978

1,681,232
83,814

1,693,408
85,025

1,860,224
62,347

1,836,654
64,986

0
4,362

0
4,365

1,054,616

1,084,727

1,180,102

1,541,610

2,462
1,135,115

2,688
1,345,445

27,453

44,794

116,416

6,007

9,644

14,540

522,908
106,189

343,217
27,800

670,708
3,337

922,664
208,224

831,543
8,478

954,493
732

3,670
394,396

244,060
424,856

4,215
385,426

4,265
400,450

0
285,450

0
375,680

1,878,567
1,203,729

1,458,903
645,425

1,617,653
751,580

1,798,429
837,543

1,011,608
906,015

1,502,702
1,049,716

674,838
374,735

813,478
819,544

866,073
800,414

960,886
834,124

105,593
1,156,738

452,986
914,546

702,556

510,166

271,360
0

230,855
0

374,735

819,544

800,414

834,124

588
182,234

533
172,992

431,466
211,187

450,397
211,187

443,267
211,187

602,465
211,187

892,277
211,187

893,238
211,187

211,187
0
220,279

211,187
0
239,210

211,187
0
232,080

211,187
0
391,278

211,187
0
184,529
0
184,529

211,187
0
208,350
0
208,350

496,561

473,701

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

2,887,436
1,904,101
983,335
2,283,799
2,083,668
200,131
603,637
181,637
71,341
110,296

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

70,620

83,091

91,791

212,806

(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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

281,339

287,539

279,668

284,369

414,651

416,621

939,837

968,462

987,319

1,017,459

4,159
1,095,086

2,201
1,056,534

281,339
34,686

287,539
33,856

279,668
33,114

284,369
32,129

347,352
32,114

316,895
38,136

0
53,230

0
76,064

510,113

475,708

494,413

644,906

9,910
820,806

21,461
517,113

367,722

82,403

298,801

221,744

41,558

359,781

9,841
0

197,104
52,955

16,130
9,667

154,038
91,528

10,140
394

4,069
1,991

10,000
122,550

26,393
116,853

23,000
146,815

50,843
126,753

0
768,714

0
151,272

255,368
0

189,957
0

151,311
0

223,353
0

237,982
0

85,607
0

255,368
0

189,957
0

151,311
0

223,353
0

237,982
71,827

85,607
69,302

0
0

0
0

17,624
54,203

18,254
51,048

536,084
120,111

573,290
120,111

622,770
120,111

705,922
120,111

925,648
120,111

778,825
120,111

120,111
0
415,973

120,111
0
453,179

120,111
0
502,659

120,111
0
585,811

120,111
0
779,570
27,534
752,036

120,111
0
627,488
27,534
599,954

25,967

31,226

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

2,828,705
2,828,705
0
2,245,547
1,840,204
405,343
583,158
144,575
6,545
138,030

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

91,854

85,503

101,316

114,943

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

4,626,198

5,079,931

5,983,513

6,925,553

8,572,876

7,611,345

6,021,748

6,764,114

7,967,517

9,363,532

350,667
9,143,508

88,462
7,149,750

4,626,198
169,131

5,079,931
313,234

5,982,153
362,753

6,923,559
383,133

6,385,995
392,646

4,162,523
329,651

1,360

1,994

1,001
553,296

1,249
415,682

5,504,750

6,638,959

4,927,000

5,481,235

1,281,917
1,600,545

2,943,429
657,449

101,142

190,335

493,241

346,394

24,508

33,514

941,516
330,843

1,823,806
217,227

1,069,930
71,073

120,258
407,578

1,022,608
13,696

131,989
14,494

3,541,160
590,089

3,290,447
1,117,144

1,806,897
1,485,859

1,325,349
3,281,656

260,322
279,411

143,976
333,476

4,903,762
4,471,665

7,113,996
6,159,896

4,554,642
3,903,927

6,394,840
5,137,156

7,365,047
5,818,101

6,567,466
4,637,080

432,097
2,077,184

954,100
1,245,175

650,715
1,930,499

1,257,684
2,347,867

1,546,946
1,454,847

1,930,386
1,208,295

1,437,221

1,196,503

0
0

0
0

2,077,184

1,245,175

1,930,499

2,347,867

12,314
5,312

9,485
2,307

3,150,002
540,537

3,359,719
579,365

4,425,372
579,365

3,664,081
695,238

1,353,527
695,238

493,033
695,238

388,430
152,107
2,609,465

579,365
0
2,780,354

579,365
0
3,846,007

695,238
0
2,968,843

695,238
0
(1,041,155)
0
(1,041,155)

695,238
0
(1,901,630)
0
(1,901,630)

1,699,444

1,699,425

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

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

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

224,351

431,226

721,910

1,007,288

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

302,686

277,445

260,102

365,605

764,679

728,114

790,860

792,065

798,678

932,905

0
943,790

0
973,625

302,686
26,506

277,445
27,336

260,102
27,806

365,605
28,724

763,220
43,801

727,232
76,117

0
0

0
0

232,445

221,890

352,222

421,095

1,459
154,991

882
171,862

8,501

5,036

18,455

14,996

74,059

51,193

2,278
21,476

2,326
24,042

139,581
0

177,131
79

6,360
611

5,753
671

0
200,190

0
190,486

0
194,186

0
228,889

0
73,962

0
114,245

306,523
61,634

277,388
38,141

513,478
77,651

511,438
55,000

145,588
55,000

133,524
30,000

244,889
183,530

239,247
136,479

435,827
50,000

456,438
145,000

90,588
472,482

103,524
424,547

90,000

60,000

50,000
0

50,000
0

183,530

136,479

50,000

145,000

0
332,482

673
313,874

45,078
104,250

85,468
104,250

48,846
104,250

130,262
104,250

301,601
104,250

341,905
104,250

104,250
0
(59,172)

104,250
0
(18,782)

104,250
0
(55,404)

104,250
0
26,012

104,250
0
(170,904)
0
(170,904)

104,250
0
(96,043)
0
(96,043)

368,255

333,698

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

1,108,759
1,108,759
0
995,246
749,521
245,725
113,513
195,660
1,715
193,945

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

41,102

36,846

34,549

71,163

(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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,382,341

3,051,617

3,867,656

5,324,185

5,530,639

5,530,639

2,825,200

3,560,924

4,440,465

6,017,761

0
6,297,399

0
6,297,399

2,382,341
29,316

3,051,617
67,074

3,867,656
509,307

5,324,185
125,383

5,471,067
129,755

5,471,067
129,755

0
0

0
0

1,095,182

2,343,197

3,394,176

3,486,798

59,573
2,776,644

59,573
2,776,644

230,390

345,928

60,739

11,214

25,215

25,215

489,357
8,526

1,192,408
25,380

1,921,053
17,136

2,764,217
22,775

2,060,184
0

2,060,184
0

0
366,909

0
779,481

0
1,395,248

0
688,592

0
691,245

0
691,245

1,195,750
708,980

2,735,617
1,791,638

3,670,658
1,978,366

5,725,387
2,386,001

2,906,310
2,208,045

2,906,310
2,208,045

486,770
1,174,705

943,979
1,531,984

1,692,292
1,839,953

3,339,386
1,553,826

698,264
3,835,424

698,264
3,835,424

758,522

758,522

456,574
0

456,574
0

1,174,705

1,531,984

1,839,953

1,553,826

43,790
2,576,538

43,790
2,576,538

1,107,068
700,139

1,127,213
700,139

1,751,221
1,177,063

1,531,770
1,177,063

1,565,548
1,177,063

1,565,548
1,177,063

700,139
0
406,929

700,139
0
427,074

1,177,063
0
574,158

1,177,063
0
354,707

1,177,063
0
388,485
388,485
0

1,177,063
0
388,485
388,485
0

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

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

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

67,729

108,065

111,917

152,773

112,884
10,802
0
0

72,270
15,302
0
0

24,127
10,558
0
0

(139,425)
0
5,885
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

36,329

32,436

29,207

26,291

150,168

139,775

118,751

116,571

116,571

116,559

0
194,653

0
194,653

36,329
4,076

32,436
3,624

29,207
3,229

26,291
2,904

111,338
2,671

108,035
3,303

0
15,338

0
16,048

227,540

215,137

184,822

167,085

23,492
113,424

15,692
115,656

152,006

140,376

109,916

52,888

68,161

24,836

416
0

4,890
29

2,097
29

2,097
29

2,097
0

0
0

17,048
58,070

16,872
52,970

20,269
52,511

17,482
94,589

0
43,166

50,204
40,616

17,259
0

26,741
0

25,680
0

16,614
0

3,815
0

3,552
0

17,259
0

26,741
0

25,680
0

16,614
0

3,815
11,699

3,552
13,800

0
0

0
0

2,496
9,203

3,887
9,913

246,610
14,000

220,832
14,000

188,349
14,000

176,762
14,000

248,078
14,000

238,079
14,000

14,000
0
232,610

14,000
0
206,832

14,000
0
174,349

14,000
0
162,762

13,500
500
132,763
134,000
(1,237)

13,500
500
125,086
134,000
(8,914)

101,315

98,993

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

11,154

8,292

9,008

8,178

1,268
1,268
0
10,424
0
10,424
(9,156)
9,096
0
9,096

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)

24,228
1,071
0
0

(11,485)
94
0
0

(35,785)
103
0
0

(8,800)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

284,414

307,633

282,032

256,264

3,467,629

3,192,255

605,621

653,964

651,100

683,062

45,813
4,464,103

2,463
4,558,278

284,414
27,642

307,633
25,124

282,032
22,737

256,264
23,496

3,250,880
330,145

3,041,843
304,286

900
100,489

253
93,477

860,047

923,798

787,130

992,902

69,547
1,557,115

54,219
1,247,132

395,928

466,913

320,822

106,042

201,472

126,277

28,813
23,177

75,159
25,877

117,838
11,863

319,696
16,297

913,002
55,446

377,455
109,089

270,853
141,276

224,993
130,856

224,965
111,642

104,206
446,661

0
387,195

268,664
365,647

144,541
476

204,954
69,883

111,168
0

257,529
157,795

1,367,224
921,412

753,607
233,334

144,065
298

135,071
0

111,168
0

99,734
0

445,812
1,173,592

520,273
947,807

947,499

736,664

0
0

0
0

298

19,970
206,123

24,176
186,967

999,622
37,500

1,026,477
37,500

957,994
37,500

991,637
37,500

2,483,928
37,500

2,737,973
37,500

37,500
0
962,122

37,500
0
988,977

37,500
0
920,494

37,500
0
954,137

37,500
0
1,127,056
71,477
1,055,579

37,500
0
1,491,953
244,853
1,247,100

1,319,372

1,208,520

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

4,500,780
4,500,780
0
4,074,153
2,531,928
1,542,225
426,627
151,621
17,496
134,125

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

39,155

33,666

38,597

55,055

137,953
6,300
0
0

48,251
1,800
0
0

(104,827)
1,349
0
0

(5,396)
302
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

701,374

660,818

664,492

1,086,852

1,727,796

1,706,550

1,140,027

1,167,856

1,241,032

1,730,119

34,771
2,468,703

11,440
2,621,906

701,374
78,311

660,818
72,100

664,492
70,645

1,086,852
67,705

1,685,973
139,970

1,687,123
152,053

0
0

0
0

353,572

516,790

556,478

1,028,665

7,052
1,245,822

7,987
1,305,885

21,464

16,403

53,289

117,795

24,824

16,195

52,654
11,229

230,743
15,944

200,583
20,184

278,566
76,375

191,207
103,130

600,995
188,526

0
268,225

0
253,700

0
282,422

0
555,929

0
926,660

0
500,167

744,541
62,245

911,217
128,133

966,525
33,584

1,750,319
334,834

1,199,468
545,371

1,207,049
798,061

682,296
39,091

783,084
10,897

932,941
0

1,415,485
17,500

654,097
1,253,112

408,988
1,195,204

382,500

425,000

724,800
0

574,800
0

39,091

10,897

17,500

9,776
136,036

14,114
181,290

271,314
150,232

255,494
150,232

254,445
150,232

347,698
150,232

521,037
150,232

610,182
150,232

150,232
0
121,082

150,232
0
105,262

150,232
0
104,213

150,232
0
197,466

150,232
0
370,805
0
370,805

150,232
0
459,950
0
459,950

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

3,804,992
3,804,992
0
3,145,049
2,972,104
172,945
659,944
168,804
16,814
151,990

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

48,210

48,731

54,921

97,941

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

12,796,641

16,484,695

20,181,331

25,079,725

29,191,245

33,499,154

20,910,953

25,091,191

30,647,854

37,153,028

2,208,510
40,195,814

4,766,036
39,479,099

12,275,868
1,287,800

16,010,489
1,395,590

19,756,046
1,882,868

24,702,948
2,013,026

24,430,171
2,465,055

25,904,023
2,414,421

520,773

474,206

425,285

376,777

632,242
1,044,174

1,124,240
1,174,581

14,239,626

16,804,432

20,540,104

25,781,930

876,148
24,416,646

530,274
31,512,851

2,047,750

1,836,260

1,566,248

1,013,691

1,940,408

3,393,251

6,820,192
1,235,829

8,172,484
1,602,062

10,305,747
2,024,506

14,327,898
2,741,646

14,462,649
2,547,246

18,761,312
2,510,215

261,161
3,874,694

267,752
4,925,874

683,983
5,959,620

1,416,454
6,282,241

62,914
5,403,429

131,047
6,717,026

15,563,326
4,886,823

22,962,630
6,858,090

27,733,234
7,093,942

28,724,729
10,635,396

24,892,120
4,881,796

31,456,763
7,930,429

10,676,503
3,073,236

16,104,540
1,219,480

20,639,292
1,584,278

18,089,333
7,080,574

20,010,324
10,425,066

23,526,334
11,252,702

1,392,772

1,177,649

4,605,975
0

5,646,111
0

3,073,236

1,219,480

1,584,278

7,080,574

327,060
4,099,259

358,802
4,070,140

8,399,705
2,544,776

9,107,017
2,553,738

11,403,923
2,585,091

15,056,352
2,566,074

18,290,707
2,699,823

22,302,540
3,079,639

2,471,776
73,000
5,854,929

2,480,738
73,000
6,553,279

2,512,091
73,000
8,818,832

2,488,291
77,783
12,490,278

2,627,823
72,000
12,803,295
389,519
4,293,461

3,007,639
72,000
16,351,976
902,904
5,978,106

2,787,589

2,870,925

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

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

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

9,686,590

12,090,737

14,868,516

17,837,319

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

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

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

35%

Billion Rs

40
35
30
25
20
15
10
5
0

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
75.8

80

71.85

2009

2010

2010

47.12

49.41

25.94

30

Percentage

50

35.86

31.86

35

60

Percentage

2009

40

70

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

0.98

1 1.93

1.92

0
Return on
Capital
Emloyed

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

101,585

95,422

120,043

132,083

159,549

194,332

195,925

39,487
14,355

58,031
8,540

59,498
11,350

82,390
8,124

105,940
12,431

96,608
12,079

586

344

295,814

411,406

515,201

545,815

3,642
613,309

4,633
660,151

172,622

230,638

92,453

72,892

140,198

116,781

72,400
15,010

105,753
35,668

104,875
36,200

208,851
78,626

230,135
112,097

215,865
111,493

25,000
10,782

25,000
14,347

271,247
10,426

145,819
39,627

60,598
70,281

128,731
87,281

120,840
386

210,899
178

257,680
0

249,146
0

360,007

384,348

120,454
320

210,721
142

257,680
0

249,146
0

360,007
8,848

384,348
7,683

320

142

8,848

7,683

214,141
54,600

258,396
54,600

317,019
65,520

379,059
78,624

354,622
94,349

369,705
94,349

54,600
0
159,541

54,600
0
203,796

65,520
0
251,499

78,624
0
300,435

94,349

94,349

260,273

275,356

744,675
744,675
0
494,109

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

147,142

192,142

244,778

255,520

779,506
616,979
162,527
256,111
243,385
212,066
31,319

979,019
714,186
264,833
262,253
238,776
212,501
26,275

1,456

1,577

2,352

1,636

69,415
1,647
564
31,986
16,902
14,152
55,349
45,833

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

114,842

109,289

145,136

136,071

284,262

284,262

273,478

278,292

323,587

325,169

0
325,169

0
325,169

114,842
11,404

109,289
10,369

145,136
9,448

136,071
13,616

136,071
13,616

136,071
13,616

148,191
0

148,191
0

18,748

29,199

26,281

45,967

0
45,967

0
45,967

98

1,354

3,104

647

647

647

13,567
130

11,031
2,250

11,161
902

31,597
602

31,597
602

31,597
602

2,316
2,637

2,316
12,248

0
11,114

2,316
10,805

2,316
10,805

2,316
10,805

109,240
21,956

139,904
10,978

200,452
0

240,229
0

240,229
0

240,229
0

87,284
10,978

128,926
0

200,452
0

240,229
0

240,229
0

240,229
0

0
0

0
0

10,978

0
0

0
0

13,372
90,000

(1,416)
90,000

(29,035)
90,000

(58,191)
90,000

90,000
90,000

90,000
90,000

90,000
0
(76,628)

90,000
0
(91,416)

90,000
0
(119,035)

90,000
0
(148,191)

90,000
0
0
0
0

90,000
0
0
0
0

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

119,336
116,989
2,347
0
0
0
119,336
8,868
0
8,868

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

4,249

4,232

5,692

8,868

(22,386)
56
0
0

(14,159)
108
0
0

(28,294)
204
0
0

(29,351)
597
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

746,256

1,074,441

1,147,681

1,380,469

2,604,511

2,861,395

1,116,041

1,524,215

1,708,026

2,070,030

41,723
2,468,724

297,304
2,598,248

746,256
74,814

1,074,441
83,686

1,147,681
115,684

1,380,469
5,537

1,637,879
143,718

1,612,056
162,099

914,193

941,230

980,859

1,266,900

2,642,954

3,195,537

10,716
3,046,543

10,805
3,623,518

20,839

46,400

46,938

28,450

51,142

59,412

455,939
153,309

804,501
127,778

1,213,116
189,571

1,587,065
263,792

2,161,761
454,376

2,704,680
391,153

0
350,772

3,747
284,474

80,808
1,112,521

1,108,526
207,704

379,264

468,273

1,028,377
773,661

1,464,578
1,014,701

2,257,694
1,242,506

2,715,553
1,522,630

2,980,684
1,670,700

3,551,008
2,019,092

254,716
291,095

449,877
433,336

1,015,188
843,710

1,192,923
1,219,395

1,309,984
1,947,293

1,531,916
1,206,237

1,230,661

1,103,066

291,095

433,336

843,710

1,219,395

716,632

103,171

407,643
240,575

443,427
240,575

689,231
240,575

641,058
240,575

723,077
240,575

1,727,668
505,208

240,575
0
167,068

240,575
0
202,852

240,575
0
448,656

240,575
0
400,483

240,575

505,208

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

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

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

292,382
489,592
271,136
159,963
9,332
36,086

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

229,977

233,786

272,348

323,939

329,522

312,946

408,959

431,454

489,169

565,933

5,197
585,550

1,332
597,551

229,977
24,183

232,166
21,299

270,277
22,217

322,282
26,088

316,491
29,879

302,925
29,278

1,620

2,071

1,657

1,326

1,061

248,565

249,621

306,040

397,433

6,508
398,387

7,628
343,441

11,766

14,699

26,666

10,910

13,218

8,128

151,439
14,110

163,275
19,496

185,037
45,932

288,699
39,068

260,383
58,674

230,918
40,717

0
71,250

0
52,151

0
48,405

0
58,756

66,112

63,678

165,507
76,464

209,658
117,035

293,710
160,597

453,174
303,448

407,588
307,672

274,337
166,616

89,043
51,579

92,623
36,842

133,113
22,105

149,726
7,368

99,916
50,479

107,721
75,820

51,579

36,842

22,105

7,368

50,479

75,820

261,456
50,400

236,907
50,400

262,573
50,400

260,830
50,400

269,842
50,400

306,230
50,400

50,400
0
211,056

50,400
0
186,507

50,400
0
212,173

50,400
0
210,430

50,400

50,400

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

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

21,973

21,972

21,972

21,976

21,976

2,579
288

2,320
257

2,089
232

1,879
210

1,694
189

1,525
169

1,635

1,959

743

824

768

784

1,295

25

131

76

79

0
0

0
0

0
0

0
0

0
1,630

0
664

0
718

0
693

692

705

829,972
0

830,883
705,350

830,603
0

831,790
0

832,893

834,357

829,972
0

125,533
0

830,603
0

831,790
0

832,893
0

834,357
0

1,525

(825,758)
5,683

(826,604)
5,683

(827,771)
5,683

(829,087)
5,683

(830,431)
5,683

(832,048)
5,683

5,683
0
(831,441)

5,683
0
(832,287)

5,683
0
(833,454)

5,683
0
(834,770)

5,683

5,683

0
0
0
0

0
0
0
0

0
0
0
0

0
1,125

0
1,248

(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

967,861

1,027,212

3,258,982

3,548,859

3,380,638

636,144
56,401

773,617
58,828

743,801
91,203

2,906,058
73,510

2,946,626
125,210

2,997,183
87,174

78,207

96,405

601,301

675,023

865,468

1,001,153

3,335
1,031,676

5,026
1,364,710

221,608

139,044

151,262

113,689

222,140

552,986

174,227
31,548

269,072
28,615

347,640
43,860

492,664
77,581

503,415
86,697

595,396
38,885

70,497
103,421

75,761
162,531

182,050
140,656

0
317,219

219,424

177,443

269,233
2,897

391,240
1,872

428,652
6,041

505,274
1,614

369,718

502,344

266,336
2,893

389,368
799

422,611
3,440

503,660
1,612

369,718
154,370

502,344
175,502

2,893

799

3,440

1,612

154,370

175,502

965,319
89,620

1,056,601
98,582

1,177,177
108,440

3,400,325
119,284

3,535,756
131,213

3,785,478
144,334

89,620
0
875,699

98,582
0
958,019

108,440
0
1,068,737

119,284
0
3,281,041

131,213

144,334

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

1,046,111
30,681
668,388

1,294,452
30,681
916,729

2,358,432

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

122,919

142,264

200,916

244,710

1,595,963

1,777,770

1,595,963
621,395
293,745
186,218
107,527

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

230,865

369,938

496,223

637,519

654,835

824,968

371,796

527,565

683,312

876,250

48,205
875,622

63,604
1,084,154

226,575
23,124

365,874
28,624

493,444
36,212

635,325
54,471

565,799
74,064

731,167
76,303

4,290

4,064

2,779

2,194

35,668

25,688

477,866

598,022

692,235

1,109,136

5,163
1,180,506

4,509
1,849,392

5,579

83,025

18,146

13,496

15,205

14,101

356,655
75,877

367,235
101,940

477,007
112,585

755,259
259,091

846,977
274,556

1,502,232
253,050

0
39,755

0
45,822

0
84,497

0
81,290

43,768

80,009

446,749
278,345

524,194
224,231

662,172
263,313

1,104,468
591,682

1,039,476
485,536

1,826,827
1,189,769

168,404
78,331

299,963
194,694

398,859
158,406

512,786
126,262

553,940
140,479

637,058
105,588

60,000

20,000

78,331

194,694

158,406

126,262

80,479

85,588

183,651
42,505

249,072
42,505

367,880
42,505

515,925
55,257

655,386
331,542

741,945
414,427

42,505
0
141,146

42,505
0
206,567

42,505
0
325,375

55,257
0
460,668

331,542

414,427

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

323,844

327,518

323,844

327,518

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

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

344,941

446,623

624,293

717,901

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,265,033

8,228,121

10,137,994

10,896,518

11,741,452

14,599,309

8,183,956

11,615,815

14,234,275

15,959,381

914,956
18,321,954

3,076,472
16,756,105

5,087,375
516,081

8,093,101
579,843

10,045,611
953,813

10,846,774
1,093,921

10,700,874
1,270,046

11,370,611
1,213,055

177,658

135,020

92,383

49,744

7,106

16,735

3,571,747

4,699,781

5,710,580

5,787,658

118,516
6,845,528

135,491
8,352,923

858,995

34,663

406,225

419,327

315,770

505,516

1,492,983
47,298

1,907,300
238,291

2,393,306
344,053

2,488,573
456,813

3,895,038
241,715

4,602,019
126,499

0
1,172,471

0
2,519,527

0
2,566,996

0
2,422,945

2,393,005

3,118,889

4,847,063
1,646,072

10,365,351
2,826,103

11,617,267
2,702,662

6,977,872
2,278,329

8,083,130
756,362

9,806,572
2,780,843

3,200,991
1,946,850

7,539,248
31,471

8,914,605
119,602

4,699,543
5,317,457

7,326,768
6,076,895

7,025,729
7,563,787

4,210,750

5,573,750

1,946,850

31,471

119,602

5,317,457

1,866,145

1,990,037

2,042,867
453,496

2,531,080
453,496

4,111,705
453,496

4,388,847
453,496

4,426,955
453,496

5,581,873
453,496

453,496
0
1,589,371

453,496
0
2,077,584

453,496
0
3,658,209

453,496
0
3,935,351

453,496

453,496

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

3,973,459
249,527
3,443,932

5,128,377
249,527
4,598,850

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

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

3,027,727

3,876,131

4,875,892

6,229,306

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

348,730

366,817

360,727

422,206

446,876

504,826

100

470,863

522,330

554,408

631,157

5,402
608,916

347,697
41,536

366,237
37,707

360,727
39,008

422,206
39,238

440,777
43,099

503,410

1,033

580

172

106

172,517

182,361

192,405

33,499

39,890

14,335

44,329
25,775

30,202
35,790

44,283
39,499

0
68,914

0
76,479

254,130
135,131

326,041

525
299,074

1,210
410,963

29,292

10,843

23,350

73,428
50,952

90,035
61,764

84,595
92,007

0
94,288

0
172,369

136,432

211,011

281,743
140,715

361,533
172,314

465,590
152,186

369,596
129,948

561,152
176,685

118,999
115,600

141,028
134,983

189,219
59,920

313,404
90,359

239,648
144,504

384,467
95,502

62,174

26,646

115,600

134,983

59,920

90,359

82,330

68,856

151,517
79,200

132,452
79,200

131,679
79,200

192,298
115,200

231,850
115,200

259,135
126,720

7,200
72,000
72,317

7,200
72,000
53,252

7,200
72,000
52,479

43,200
72,000
77,098

54,720
72,000
110,743

43,200
72,000
94,604
15,880
78,724

110,743

22,046

21,672

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

1,745,609
1,745,609

2,436,416
2,436,416

142,673
93,969

140,680
140,706

163,814
126,763

211,351
147,353

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

2,170,498
1,190,134
980,364
265,918
198,011
133,944
64,067

73,057
51,106
12,962
46,070
(2,510)
0
2,200
115,052

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

67,747

79,053

184,256

184,334

199,515

209,973

152,630

168,626

279,635

289,517

3,639
295,917

3,079
311,662

67,747
4,975

79,053
6,422

184,256
6,439

184,334
9,837

181,416
9,901

188,518
10,723

142,712

169,057

199,214

507,942

14,460
454,215

18,376
482,108

5,466

8,628

15,533

39,367

38,551

30,763

54,066
14,688

65,871
22,970

77,431
30,237

97,437
273,080

168,874
132,323

192,583
145,882

2,720
65,772

0
71,588

0
76,013

0
98,058

114,467

112,880

187,696
58,644

195,947
54,616

231,545
45,219

507,524
39,790

403,850

394,032

129,052
8,885

141,331
6,341

186,326
5,835

467,734
4,711

403,850
23,836

394,032
26,280

8,885

6,341

5,835

4,711

23,836

26,280

13,878
20,419

45,822
20,419

146,090
20,419

180,041
20,419

226,044
30,629

271,769
38,286

20,419
0
(6,541)

20,419
0
25,403

20,419
0
125,671

20,419
0
159,622

30,629

38,286

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

65,926
1,881
8,600

105,939
1,881
8,600

129,489

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

24,006

36,134

47,529

67,832

2,625,310
2,357,144
268,166
184,600
92,869
49,004
43,865

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

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

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

112,203

112,203

112,203

112,203

112,242

46,615
5,071

46,615
5,071

37,948
4,105

34,255
3,693

30,932
3,323

27,981
2,990

100,000

100,000

100,000

100,000

21,658

21,658

33,008

39,385

20,909

24,447

76

76

878

215

13

110

8,121
11,597

8,121
11,597

8,052
19,305

13,087
23,970

251
19,784

408
23,089

0
1,864

0
1,864

0
4,773

0
2,113

861

840

77,444
65,000

77,444
65,000

92,500
55,000

89,224
46,100

20,442

16,016

12,444
20,000

12,444
20,000

37,500
0

43,124
0

20,442
48,628

16,016
48,923

19,100

7,100

29,378

41,514

27,981

20,000

20,000

150

309

70,829
106,875

70,829
106,875

78,456
106,875

84,416
106,875

(17,229)
106,875

(12,511)
106,875

106,875
0
(36,046)

106,875
0
(36,046)

106,875
0
(28,419)

106,875
0
(22,459)

106,875

106,875

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

(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

46,659
39,320
7,339
9,945
9,031
4,010
5,021

3,264
5

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,679,728

1,613,511

1,590,629

2,056,715

2,772,564

3,244,274

2,824,120

2,936,455

3,042,505

3,647,400

987,851
3,475,452

973,017
4,027,340

1,679,728
168,900

1,613,511
187,916

1,590,629
136,824

2,056,715
140,081

1,765,365
150,911

2,174,145
157,026

29,392

1,811,527

1,913,137

2,354,982

3,172,043

19,348
2,473,347

67,720
4,015,673

14,486

236,295

305,420

13,730

673,409

39,741

1,378,017
216,330

1,160,613
266,787

1,361,821
328,389

2,406,062
343,604

1,166,118
315,365

3,125,746
376,923

0
202,694

0
249,442

0
359,352

0
408,647

318,455

473,263

928,445
191,545

800,003
0

919,915
0

1,650,317
493,709

977,860

1,954,308
634,460

736,900
0

800,003
0

919,915
0

1,156,608
0

977,860
260,321

1,319,848
351,754

260,321

351,754

2,562,810
92,364

2,726,645
92,364

3,025,696
92,364

3,578,441
92,364

4,007,730
92,364

4,953,885
92,364

92,364
0
2,470,446

92,364
0
2,634,281

92,364
0
2,933,332

92,364
0
3,486,077

92,364

92,364

3,915,366

4,861,521

5,584,416
5,409,232
175,184
4,389,612

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

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

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

283,225

342,749

468,126

496,969

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

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

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

345,504

347,083

403,822

133,356

404,269

413,331

23,661
485,569

31,522
486,714

272,140
7,630

264,560
8,704

256,601
8,011

257,871
7,792

320,624
9,485

314,342
8,875

1,219

1,219

249,859

383,381

424,967

649,193

407,539

518,446

10,315

1,476

13,565

61,427

3,180

9,441

161,811
45,223

205,556
88,582

245,033
102,885

391,035
171,476

237,981
105,829

249,048
71,443

0
32,510

0
87,767

0
63,484

0
25,255

60,549

188,514

184,721
99,221

319,863
272,473

417,008
252,323

629,670
455,586

296,510
213,282

399,266
323,178

85,500
13,500

47,390
4,500

164,685
0

174,084
0

83,228
103,406

76,088
100,075

20,837

20,837

0
0

13,500

4,500

82,569

0
79,238

323,778
56,584

323,578
56,584

264,560
56,584

277,394
56,584

353,127
56,584

366,188
56,584

56,584
0
267,194

56,584
0
266,994

56,584
0
207,976

56,584
0
220,810

56,584

56,584
0
166,500

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

150,133

150,133

166,500

146,410

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

1,148,892
1,056,011
92,881
76,343
15,207
4,762
10,445

13,668
30,586
29,411
11,337
15,981

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
-0.82
62.41

4.92
1.33
1.24
-0.19
2.31
64.73

-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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

12,396

12,396

41,988

41,988

0
0

0
0

12,396
977

12,396
977

0
0

0
0

0
0

0
0

0
0

0
0

5,818

5,818

470

0
0

0
0

2,308

2,308

2,229
216

2,229
216

0
0

0
0

0
0

0
0

0
1,065

0
1,065

0
470

0
0

0
0

0
0

66,887
0

66,887
0

940
0

31,575
0

850
0

943
0

66,887
0

66,887
0

940
30,847

31,575
0

850
30,847

943
30,847

30,847

(48,673)
23,228

(48,673)
23,228

23,228
0
(71,901)

30,847
0

30,847
0

0
0

0
0

(31,317)
30,000

(31,575)
30,000

(31,697)
30,000

(31,790)
30,000

23,228
0
(71,901)

30,000
0
(61,317)

30,000
0
(61,575)

30,000
0
(61,697)
0
(61,697)

30,000
0
(61,790)
0
(61,790)

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

0
0
0
0
0
0
0
122
0
122

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

9,489

9,489

201

258

(4,844)
26
0
0

(4,844)
26
0
0

(201)
0
0
0

(258)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

158,614

232,678

256,787

292,922

310,979

427,495

357,407

407,700

451,226

515,372

4,105
551,529

7,050
705,220

158,614
24,074

232,678
25,619

256,787
33,787

292,922
36,219

295,665
39,271

409,752
44,875

614,191

769,204

863,560

1,015,133

11,209
1,043,406

10,693
1,191,958

112,459

76,694

108,186

84,042

70,844

99,509

400,612
48,467

582,412
42,565

610,903
59,749

689,438
74,892

755,711
86,291

842,482
135,317

10,750
41,903

11,050
56,483

0
84,722

9,915
156,846

130,560

114,650

268,833
29,377

406,713
77,206

467,888
39,066

566,926
23,388

530,881
30,228

680,194
92,526

239,456
25,328

329,507
43,762

428,822
27,047

543,538
4,429

500,653
45,684

587,668
91,121

25,328

43,762

27,047

4,429

45,684

91,121

478,644
50,000

551,407
50,000

625,412
50,000

736,700
60,000

777,820
60,000

848,138
60,000

50,000
0
428,644

50,000
0
501,407

50,000
0
575,412

60,000
0
676,700

60,000

60,000

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

717,820

788,138

134,371

135,116

2,728,709
2,604,076
124,633
1,974,446
530,134
1,444,312
754,263
607,290
443,862
163,428

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

289,221

383,675

427,694

519,746

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

284,212

283,455

377,495

488,852

374,153

384,648

500,689

508,699

614,758

731,115

200
737,570

3,575
780,556

103,067
26,725

102,310
21,714

196,350
21,425

307,707
29,633

288,672
38,791

297,151
39,186

181,145

181,145

181,145

181,145

81,637
355

81,637
128

458,006

602,997

569,053

526,761

3,289
600,683

2,157
704,825

126,852

172,096

16,151

8,022

40,696

80,436

148,456
71,568

279,859
64,279

378,002
88,101

352,394
49,976

333,840
79,649

358,094
96,606

0
111,130

0
86,763

0
86,799

0
116,369

0
146,498

0
169,689

202,048
26,018

326,988
0

747,566
362,367

714,390
242,591

680,683
148,775

646,896
170,204

176,030
0

326,988
0

385,199
0

471,799
0

531,908
25,497

476,692
38,182

0
0

0
0

0
25,497

0
38,182

540,170
61,576

559,464
61,576

198,982
61,576

301,223
61,576

268,656
61,576

404,395
61,576

61,576
0
478,594

61,576
0
497,888

61,576
0
137,406

61,576
0
239,647

61,576
0
207,080
25,258
181,822

61,576
0
342,819
25,258
317,561

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

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

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

370,719

467,757

553,293

625,505

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,783,083

2,154,393

3,525,672

4,435,581

5,773,442

5,979,141

3,768,584

4,078,081

5,873,999

6,964,584

173,571
7,420,413

308,981
7,918,431

1,761,170
260,540

2,137,350
287,039

3,513,499
372,971

4,428,278
453,671

4,563,048
496,867

4,588,190
553,006

21,913

17,043

12,173

7,303

357,556
200

821,086
200

4,023,584

4,275,453

4,558,504

6,950,837

679,067
5,698,648

260,684
7,574,893

427,188

585,860

188,682

106,789

278,644

1,762,650

1,804,768
105,367

2,156,472
174,722

2,726,064
239,313

4,261,770
228,763

3,649,070
506,357

3,881,007
522,795

95,202
1,591,059

95,202
1,263,197

95,202
1,309,243

95,202
2,258,313

1,264,577

1,408,441

3,759,571
66,946

4,589,558
200

6,041,939
440,830

9,079,720
3,264,845

7,107,469
1,037,911

8,975,421
297,143

3,692,625
20,074

4,589,358
0

5,601,109
52,932

5,814,875
77,327

6,069,558
1,019,952

8,678,278
954,763

20,074

52,932

77,327

327,060
692,892

358,802
595,961

2,027,022
664,694

1,840,288
664,694

1,989,305
664,694

2,229,371
669,477

3,344,671
669,477

3,623,850
669,477

664,694
0
1,362,328

664,694
0
1,175,594

664,694
0
1,324,611

664,694
4,783
1,559,894

669,477

669,477

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

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

4,482,857

5,519,695

6,635,476

7,785,376

24,852,625
20,593,398
4,259,227
13,334,957
8,583,957
7,179,694
1,404,263

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

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

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

141,100

170,611

168,154

166,059

177,168

104,654
5,346

103,390
5,578

141,901
5,039

136,324
4,498

132,298
4,254

152,388
3,967

50,000

135,399

259,725

212,826

232,400

299,898

370
256,141

1,342
348,652

289,129

7,304

14,238

12,867

10,451

65,832

89,601

79,591
44,603

43,287
41,367

104,905
37,236

176,295
33,093

131,463
11,167

144,642
83,754

50,000
78,227

50,000
63,934

50,000
27,392

50,000
30,059

47,679

30,655

241,633
176,282

230,662
150,451

354,826
175,161

475,790
122,315

190,254
101,382

408,513
79,913

65,351
52,925

80,211
39,677

179,665
17,940

353,475
0

88,872
344,027

328,600
380,638

335,000

52,925

39,677

17,940

9,027

380,638

69,821
76,057

45,877
76,057

1,535
79,860

(39,568)
79,860

(95,472)
79,860

(151,370)
79,860

76,057
0
(6,236)

76,057
0
(30,180)

79,860
0
(78,325)

79,860
0
(119,428)

79,860

79,860

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

(293,579)
10,646
(304,225)

(450,826)
10,646
(461,472)

118,247

219,596

897,774
897,774

1,848,347
1,848,347

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

139,545

176,558

143,377

87,926

841,249
658,978
182,271
56,525
109,987
68,629
41,358

1,718,465
1,523,160
195,305
129,882
128,269
106,186
22,083
44,526
66,815
(61,062)
8,143
0
11,778
54,787

(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

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

18,694

24,699

32,753

56,397

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

H.Key Performance Indicators

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

66,449,716

71,819,647

82,883,488

107,679,493

313,374,014

302,354,975

120,259,970

119,291,767

148,975,273

177,716,269

130,764,852
195,625,201

76,759,238
242,917,803

64,347,547
5,671,686

69,915,245
5,836,364

80,841,721
6,129,803

105,619,375
6,776,939

129,257,161
8,805,988

153,791,756
10,808,593

2,102,169

1,904,402

2,041,767

2,060,118

5,551,835
45,784,912

5,680,457
61,678,945

84,825,304

96,769,788

130,375,717

146,793,388

2,015,253
138,381,782

4,444,579
151,199,259

18,196,050

20,871,730

18,366,897

19,418,482

43,904,639

48,660,252

17,755,437
6,805,680

18,357,462
8,275,105

19,999,682
13,457,038

28,446,954
10,172,191

27,966,341
16,896,230

32,014,359
17,844,597

26,751,133
15,317,004

26,589,626
22,675,865

55,419,315
23,132,785

49,775,394
38,980,367

20,717,880
28,896,691

20,277,065
32,402,985

64,131,528
19,361,534

76,078,336
28,968,779

77,403,737
20,842,526

103,838,944
30,868,503

110,939,615
39,583,316

142,436,722
54,660,987

44,769,994
11,089,356

47,109,557
9,220,472

56,561,211
34,157,037

72,970,441
40,298,356

71,356,299
174,657,127

87,775,735
115,285,267

119,966,504

64,919,024

721,919

1,408,633

13,069,395

12,879,902

17,727,316
10,137,858

17,379,970
8,186,010

10,367,437

7,811,839

21,087,642

27,418,454

1,353,172
25,472,277

1,662,916
23,137,347

76,054,136
38,620,473

83,290,627
39,943,911

101,698,431
40,704,617

110,335,581
42,072,022

166,159,054
73,723,547

195,832,247
86,636,108

38,620,473
0
37,433,663

39,943,911
0
43,346,716

40,704,617
0
60,993,814

42,072,022
0
68,263,559

73,723,547
0
87,521,988
21,704,237
65,817,751

82,636,108
4,000,000
97,460,963
24,021,910
73,439,053

4,913,520

11,735,175

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

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

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

17,700,941

20,371,641

22,725,914

26,727,743

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

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

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

2010

Growth

30%

400
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

3.99
1.251.06 1.72

4.32

1.32

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,187,749

1,437,023

1,516,821

1,560,835

1,705,391

1,933,748

2,380,518

2,761,341

3,001,118

3,223,208

159,886
330,252

392,954
3,469,184

1,187,749
148,787

1,437,023
159,718

1,516,821
185,830

1,560,835
203,002

1,502,899
206,300

1,484,642
256,102

0
0

0
0

2,941,306

3,598,402

3,164,547

3,455,054

42,606
3,259,185

56,152
3,856,673

1,160,775

1,608,841

496,118

1,051,489

770,784

819,087

1,217,900
147,297

1,256,141
208,742

1,363,508
128,817

1,696,200
139,004

1,675,000
234,185

2,069,633
263,267

0
415,334

0
524,678

0
1,176,104

0
568,361

0
579,216

0
704,686

652,039
0

793,539
0

992,095
0

1,447,377
0

1,606,489
0

1,762,700
0

652,039
0

793,539
0

992,095
0

1,447,377
0

1,606,489
119,627

1,762,700
115,182

0
0

0
0

0
119,627

0
115,182

3,477,016
679,863

4,241,886
979,003

3,689,273
979,003

3,568,512
979,003

3,238,460
979,003

3,912,539
979,003

679,863
0
2,797,153

979,003
0
3,262,883

979,003
0
2,710,270

979,003
0
2,589,509

979,003
0
2,259,457
173,853
2,085,604

979,003
0
2,933,536
197,167
2,736,369

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

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

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

976,102

1,143,720

1,135,050

1,655,672

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

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

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

36,495,016

4,287,584
20,444,723

8,088,034
32,358,809

14,361,612
411,320

25,790,552
499,328

2,567,311
0

2,567,311
0

45,780
5,873,762

49,119
4,448,628

293,485

86,497

2,289,563
780,726

413,608
311,346

0
2,509,988

0
3,637,177

4,346,627
2,010,103

12,550,003
7,601,031

2,336,523
15,031,991

4,948,972
15,458,184

2,027,835

2,820,645

31,135
10,137,858

31,135
8,186,010

0
2,835,163

0
4,420,395

7,757,432
3,924,300

12,935,457
3,924,300

3,924,300
0
3,833,132
0
3,833,132

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

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

498,280
2,698,073
2,651,045
1,908,122
0
0
0
(560,155)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,275,466

1,175,894

861,190

1,128,372

1,276,004

1,342,471

2,447,706

2,474,131

1,997,891

2,405,066

43,726
2,411,007

185,445
2,619,567

1,275,376
138,780

1,175,894
187,887

861,190
139,319

1,128,372
148,817

1,020,722
171,647

1,063,832
177,492

90

0
199,715

0
81,288

689,378

792,128

1,417,822

1,183,928

11,841
1,039,945

11,906
1,044,764

257,206

298,255

546,915

334,478

500,310

478,064

68,408
119,047

142,132
169,895

156,364
128,531

246,276
157,555

166,801
153,030

184,455
168,854

0
244,717

0
181,846

0
586,012

0
445,619

72,335
147,469

65,022
148,369

828,592
71,442

755,598
15,000

852,880
0

804,873
0

545,644
0

578,329
0

757,150
30,000

740,598
0

852,880
0

804,873
0

545,644
317,599

578,329
317,776

0
0

0
0

30,000

6,079
311,520

6,334
311,442

1,106,252
250,387

1,212,424
250,387

1,426,132
250,387

1,507,427
250,387

1,452,706
250,387

1,491,130
250,387

250,387
0
855,865

250,387
0
962,037

250,387
0
1,175,745

250,387
0
1,257,040

250,387
0
1,202,319
0
1,202,319

250,387
0
1,240,743
0
1,240,743

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

2,307,741
2,307,741
0
1,596,752
249,313
1,347,439
710,989
500,324
152,785
347,539

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

270,225

414,101

323,917

343,723

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

144,768

172,422

183,837

186,609

186,150

221,382

248,621

262,397

268,185

0
268,055

0
295,694

144,768
0

172,422
3,851

183,837
3,421

186,609
3,029

182,695
4,002

208,774
7,172

0
0

0
0

15,573

16,069

13,766

17,683

3,454
18,879

12,608
27,107

1,265

568

914

1,602

658

192

1,800
0

868
7,896

922
7,309

1,098
8,116

1,500
9,533

3,258
12,996

187
12,321

0
6,737

0
4,621

0
6,867

0
7,187

0
10,660

70,521
41,212

94,777
64,837

91,398
16,175

131,157
63,033

133,412
79,902

77,517
41,518

29,309
49,100

29,940
45,083

75,223
69,763

68,124
41,598

53,509
49,453

35,999
74,645

13,137

35,408

11,500
0

8,593
0

49,100

45,083

69,763

41,598

0
24,816

0
30,644

40,720
28,657

48,631
48,718

36,442
48,718

31,537
68,205

22,164
68,205

96,328
68,205

28,657
0
12,063

48,718
0
(87)

48,718
0
(12,276)

68,205
0
(36,668)

68,205
0
(46,041)
0
(46,041)

68,205
0
7,231
0
7,231

20,892

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

99,445
99,445
0
75,171
13,908
61,264
24,273
16,115
4,485
11,631

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

13,686

14,091

14,946

15,724

(12,955)
285
0
0

(11,885)
275
0
0

(11,845)
355
0
0

(24,062)
348
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

426,852

560,800

625,723

666,797

1,211,420

889,911

507,706

665,862

752,384

698,857

0
1,143,094

0
790,496

426,852
20,727

560,800
26,470

625,723
29,693

614,447
38,718

1,055,344
50,183

717,747
62,898

52,350

40,750
4,179

40,750
3,510

954,178

1,194,276

1,474,346

2,249,445

111,147
2,047,777

127,904
2,131,651

96,656

144,483

143,167

192,281

179,159

290,605

430,929
352,851

454,436
479,390

570,944
599,782

873,297
569,402

1,011,893
585,602

966,347
602,762

17,947
55,795

17,947
98,020

13,849
146,604

13,849
600,616

0
271,123

0
271,937

886,740
408,554

1,207,119
598,647

1,541,339
783,194

2,349,519
1,316,511

2,467,755
1,514,263

2,319,667
1,305,665

478,186
0

608,472
0

758,145
0

1,033,008
116,666

953,492
50,000

1,014,002
4,023

50,000

4,023

0
0

0
0

116,666

0
0

0
0

494,290
46,251

547,957
57,813

558,730
69,376

450,057
81,864

741,442
81,864

697,872
181,864

46,251
0
448,039

57,813
0
490,144

69,376
0
489,354

81,864
0
368,193

81,864
0
132,928
70,494
62,434

181,864
0
305,665
72,308
233,357

526,650

210,343

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

3,624,268
3,529,810
94,458
2,765,702
2,626,526
139,176
858,566
824,144
606,045
218,099

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

439,540

586,546

608,412

762,136

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

301,640

281,216

301,552

282,359

276,279

894,123

306,951

310,560

355,482

357,428

0
370,481

0
1,477,625

301,640
13,260

281,216
25,020

301,552
25,536

282,359
21,138

275,756
19,982

886,668
86,286

0
0

0
2,342

77,717

102,796

163,105

204,947

523
247,064

5,113
915,113

5,186

7,733

28,695

35,920

70,014

36,145

21,877
36,103

30,869
0

44,061
57,451

59,807
64,736

70,147
61,008

495,154
309,278

0
14,551

0
64,194

0
32,898

0
44,484

0
45,895

0
74,536

80,028
16,989

69,601
14,675

89,722
15,002

90,203
3,532

48,586
2,837

855,253
725,684

63,039
74,316

54,926
19,022

74,720
6,251

86,671
2,810

45,749
36,002

129,569
302,610

210,191

0
0

0
0

74,316

19,022

6,251

2,810

795
35,207

0
92,419

225,013
200,000

295,389
200,000

368,684
200,000

394,293
200,000

438,755
200,000

651,374
69,000

200,000
0
25,013

200,000
0
95,389

200,000
0
168,684

200,000
0
194,293

200,000
0
180,261
0
180,261

69,000
0
410,401
3,600
406,801

58,494

171,973

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

581,982
370,708
211,274
396,009
320,133
75,876
185,973
40,533
5,773
34,760

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

18,944

22,118

33,028

31,250

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

13,043

21,091

19,077

16,496

2,944

2,826

28,455

27,481

27,304

27,470

0
5,533

0
4,606

13,043
1,966

21,091
2,077

19,077
2,705

16,496
2,221

2,644
2,158

2,080
230

0
0

0
0

140,223

141,781

116,146

95,847

300
83,918

746
89,662

7,986

20,268

20,247

14,737

4,572

5,537

40,234
82,085

76,398
290

27,201
59,030

19,246
46,806

15,973
49,392

19,181
40,545

1,450
8,468

0
44,825

0
9,668

0
15,058

0
13,981

0
24,399

107,575
15,223

130,137
12,023

110,292
9,225

82,238
30,152

72,317
32,963

75,564
43,780

92,352
250

118,114
692

101,067
767

52,086
429

39,354
192

31,784
0

192

0
0

0
0

250

692

767

429

0
0

0
0

45,441
14,400

32,043
14,400

24,164
14,400

29,676
14,400

14,353
14,400

16,924
14,400

14,400
0
31,041

14,400
0
17,643

14,400
0
9,764

14,400
0
15,276

14,400
0
(47)
0
(47)

14,400
0
2,524
0
2,524

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

96,786
96,786
0
67,712
62,009
5,703
29,074
34,742
10,417
24,325

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

66,572

96,443

29,181

22,581

4,747
1,431
1,800
0

(12,999)
1,531
0
0

4,098
576
0
0

6,679
0
1,440
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

527,589

600,980

851,456

989,326

997,116

1,026,471

1,431,881

1,577,875

1,905,560

2,139,689

45,890
2,144,852

117,730
2,180,595

527,589
84,072

600,980
86,790

851,456
81,876

989,326
103,583

920,298
134,773

883,612
141,938

0
0

0
0

2,899,233

2,996,237

3,404,783

3,737,164

30,928
3,976,465

25,129
4,335,575

257,287

244,214

209,729

259,117

379,796

402,830

1,222,702
1,185,633

1,170,443
1,231,429

1,307,084
1,457,059

1,509,283
1,604,921

1,359,496
1,778,557

1,606,557
1,451,338

0
233,611

0
350,151

0
430,911

0
363,843

0
458,616

0
874,850

1,840,437
708,809

1,574,491
763,457

2,241,608
1,095,025

2,369,165
1,560,823

2,397,151
1,143,458

2,291,177
823,438

1,131,628
500,000

811,034
700,000

1,146,583
500,000

808,342
433,333

1,253,693
339,544

1,467,739
412,462

266,666

333,333

0
0

0
0

500,000

700,000

500,000

433,333

0
72,878

0
79,129

1,086,385
155,968

1,322,726
218,355

1,514,631
218,355

1,923,992
272,943

2,236,886
272,943

2,658,407
272,943

155,968
0
930,417

218,355
0
1,104,371

218,355
0
1,296,276

272,943
0
1,651,049

272,943
0
1,963,943
0
1,963,943

272,943
0
2,385,464
0
2,385,464

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

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

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

407,229

201,537

505,356

612,172

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

651,419

762,481

882,237

977,955

1,235,265

1,928,870

1,133,061

1,133,357

1,343,998

1,523,687

143,778
1,668,694

555,047
2,080,805

622,419
62,795

739,281
77,136

864,837
87,145

966,355
104,666

1,024,478
132,713

1,318,071
127,345

29,000

23,200

17,400

11,600

42,074
0

32,155
0

886,305

1,349,010

1,768,288

2,160,369

24,935
2,705,155

23,597
2,877,700

216,537

390,638

420,696

592,937

1,024,666

1,088,021

536,707
83,738

614,349
105,782

777,851
144,263

1,006,364
177,983

1,128,432
339,490

1,322,237
316,779

0
49,323

161,367
76,874

0
425,478

180,201
202,884

0
212,567

0
150,663

524,664
70,404

803,325
54,637

937,790
191,481

993,655
47,445

1,072,926
2,500

1,011,144
625

454,260
53,847

748,688
9,210

746,309
5,625

946,210
3,125

1,070,426
167,283

1,010,519
218,280

625

0
0

0
0

53,847

9,210

5,625

3,125

0
166,658

0
218,280

959,213
122,303

1,298,956
122,303

1,707,110
152,879

2,141,544
191,098

2,700,211
238,873

3,577,146
274,704

122,303
0
836,910

122,303
0
1,176,653

152,879
0
1,554,231

191,098
0
1,950,446

238,873
0
2,461,338
13,456
2,447,882

274,704
0
3,302,442
13,456
3,288,986

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

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

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

584,950

867,270

1,029,683

1,129,825

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

39,548

78,318

71,191

64,281

58,064

52,952

117,660

165,174

165,923

71,329

0
166,154

0
166,813

39,548
4,574

78,318
8,743

71,191
7,876

64,281
7,048

58,064
6,310

52,952
5,771

0
0

0
0

25,213

24,275

32,074

39,358

0
46,731

0
54,616

4,530

1,325

2,752

2,031

6,885

4,393

4,533
3,627

7,305
6,027

15,954
6,654

9,667
14,579

12,182
17,356

20,630
16,440

0
12,523

0
9,618

0
6,714

0
13,081

0
10,307

0
13,153

43,835
227

52,530
252

12,791
279

52,038
0

4,044
0

5,172
0

43,608
840

52,278
588

12,512
40,696

52,038
0

4,044
50,357

5,172
51,607

840

588

40,696

20,086
40,000

49,475
40,000

40,000
0
(19,914)

40,379
0

40,379
0

1,874
8,104

2,619
8,609

49,778
40,000

51,601
40,000

50,394
40,000

50,789
40,000

40,000
0
9,475

40,000
0
9,778

40,000
0
11,601

40,000
0
(14,605)
0
(14,605)

40,000
0
(11,799)
0
(11,799)

24,999

22,587

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

51,466
51,466
0
43,702
25,475
18,227
7,764
7,717
3,063
4,654

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

5,188

5,686

6,167

7,143

4,182
146
0
0

(1,542)
147
0
0

688
145
0
0

471
289
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

690,299

1,347,374

1,374,029

1,396,334

23,620,706

25,011,598

2,373,680

3,335,259

3,462,669

2,156,195

734,409
3,709,887

366,514
4,420,230

690,299
75,423

1,347,374
81,426

1,374,029
121,310

1,396,334
140,572

1,340,588
149,784

1,871,708
207,508

0
21,543,286

0
22,771,696

12,096,871

14,815,317

27,848,674

24,233,806

2,423
5,986,702

1,680
5,690,322

398,919

56,295

1,097,824

933,938

278,145

1,250,263

164,432
0

237,295
2,503

867,511
4,742

89,568
8,821

83,285
10,028

216,117
2,131

10,479,531
1,053,989

13,447,765
1,071,459

24,492,479
1,386,118

21,439,053
1,762,426

3,399,314
2,215,930

2,439,931
1,781,880

3,375,631
2,334,900

6,889,547
5,924,515

3,833,371
2,281,428

8,247,484
70,139

2,983,100
1,196,603

2,319,925
706,225

1,040,731
0

965,032
0

1,551,943
6,500,000

8,177,345
0

1,786,497
6,741,595

1,613,700
5,710,190

6,302,500

5,042,000

0
0

0
0

6,500,000

44,595
394,500

51,590
616,600

9,411,539
720,576

9,273,144
828,662

18,889,332
828,662

17,382,656
1,093,834

19,882,713
1,093,834

22,671,805
1,203,217

720,576
0
8,690,963

828,662
0
8,444,482

828,662
0
18,060,670

1,093,834
0
16,288,822

1,093,834
0
18,788,879
3,985
18,784,894

1,203,217
0
21,468,588
135,765
21,332,823

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

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

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

259,024

306,637

365,251

573,781

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

140,893

93,842

126,933

122,497

851,002

789,164

228,717

229,895

261,634

263,708

61,831
828,563

2,034
848,328

99,157
8,608

92,366
7,969

126,933
7,418

122,497
7,011

646,433
42,922

623,197
42,922

41,736

1,476

0
88,660

41,587
58,205

151,506

159,835

268,800

404,072

54,078
1,025,911

64,142
1,272,239

2,246

1,197

3,052

1,488

28,044

41,210

48,175
81,361

46,981
94,290

106,149
141,070

155,275
203,690

386,825
478,767

532,048
486,175

0
19,724

0
17,367

0
18,529

0
43,619

0
132,275

0
212,806

152,498
35,000

151,875
77,000

252,970
156,722

283,825
156,240

1,071,483
845,252

1,336,317
1,050,585

117,498
78,115

74,875
78,115

96,248
70,305

127,585
62,495

226,231
144,225

285,732
117,143

128,185

100,375

0
0

0
0

78,115

78,115

70,305

62,495

16,040
0

16,768
0

61,786
315,670

23,687
315,670

72,458
315,670

180,249
315,670

661,205
315,670

607,943
997,789

315,670
0
(253,884)

315,670
0
(291,983)

315,670
0
(243,212)

315,670
0
(135,421)

315,670
0
306,640
0
306,640

997,789
0
(428,611)
0
(428,611)

38,894

38,765

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

2,769,953
2,736,971
32,982
2,551,882
2,344,347
207,535
218,071
195,905
80,928
114,977

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

52,285

49,342

13,881

30,037

(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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,501,195

2,736,546

2,717,778

1,429,935

51,186
2,615,780

43,403
2,507,098

1,428,819
966

2,561,241
53,433

2,307,064
152,879

72,376

83,329
0

65,473
0

40,789
333,259

301,838
399,869

165,114

3,289

60,168

0
0

56,069
1,228

50,995
26,776

0
52,587

0
272,673

11,658
250,272

82,468
0

755,832
259,320

732,270
477,075

82,468
955,686

496,512
1,469,818

255,195
1,830,197

1,469,818

1,421,413

0
0

408,785
0

955,686

0
0

0
0

680,742
695,000

844,155
1,020,000

555,181
1,020,000

695,000
0
(14,258)

1,020,000
0
(175,845)
0
(175,845)

1,020,000
0
(464,819)
0
(464,819)

0
0
0
0

217,701

191,335
168,506
22,828
228,165
110,105
118,059
(36,830)
44,670
10,474
34,196

709,672
668,455
41,217
683,401
254,050
429,351
26,271
81,347
42,583
38,764

29,294
96,220
94,935
(177,719)
228
0
0
134,889

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

9,084,707

12,983,938

12,050,679

11,004,254

10,344,488

10,170,099

17,997,636

22,813,436

22,669,002

23,007,124

142,813
22,938,931

142,813
23,695,079

9,113,602
1,004,821

13,007,054
935,500

12,050,679
1,237,493

11,004,254
1,130,462

9,815,711
1,048,272

9,632,029
939,830

(28,895)

(23,116)

11,238,704

11,760,038

11,495,120

10,468,512

(5,779)
0

0
0

391,743
5,874,677

395,257
5,173,277

349,532

294,170

155,342

87,352

16,575

11,431

7,837,089
1,585,252

6,843,976
1,938,021

6,634,546
2,407,652

4,683,593
2,675,370

1,457,460
2,835,872

811,589
2,878,916

84,809
1,382,022

252,161
2,431,710

277,218
2,020,362

148,025
2,874,172

0
1,564,770

0
1,471,341

11,505,627
5,145,902

13,448,471
5,859,541

13,503,072
5,119,099

15,609,628
7,464,653

17,012,260
9,057,176

17,703,739
9,872,621

6,359,725
2,608,035

7,588,930
2,690,560

8,383,973
2,246,068

8,144,975
2,967,192

7,955,084
2,542,779

7,831,118
1,950,657

1,243,780

531,930

0
0

0
0

2,608,035

2,690,560

2,246,068

2,967,192

123,738
1,175,261

160,152
1,258,575

6,209,749
3,663,211

8,604,945
3,663,211

7,796,659
3,663,211

2,895,946
3,663,211

(3,335,874)
3,663,211

(4,311,020)
3,663,211

3,663,211
0
2,546,538

3,663,211
0
4,941,734

3,663,211
0
4,133,448

3,663,211
0
(767,265)

3,663,211
0
(9,572,222)
0
(9,572,222)

3,663,211
0
(10,882,178)
0
(10,882,178)

2,573,137

2,907,947

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

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

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

489,705

421,202

325,474

535,722

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

174,914

171,034

145,891

132,307

124,576

169,479

394,319

400,063

405,541

0
417,112

61,460
418,095

174,914
0

171,034
17,256

145,891
31,367

132,307
25,675

123,265
23,557

104,943
21,182

0
0

0
0

362,587

421,335

398,000

519,984

1,310
374,706

3,077
481,596

11,934

8,932

9,374

17,693

24,901

67,683

137,065
163,777

147,567
229,641

163,819
206,882

233,112
207,221

154,890
162,547

202,093
177,308

0
49,811

0
35,195

0
17,925

0
61,958

0
32,368

0
34,512

277,710
171,807

297,508
198,295

245,963
156,008

311,062
162,487

102,462
14,062

220,822
69,592

105,903
0

99,213
1,894

89,955
1,405

148,575
4,862

88,399
4,179

151,230
1,210

2,756

1,210

0
0

0
0

1,894

1,405

4,862

0
1,422

0
0

259,791
94,362

292,967
94,362

296,523
94,362

336,367
94,362

392,642
94,362

429,043
94,362

94,362
0
165,429

94,362
0
198,605

94,362
0
202,161

94,362
0
242,005

94,362
0
298,280
0
298,280

94,362
0
334,681
0
334,681

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

1,296,974
1,296,974
0
1,083,867
988,864
95,003
213,107
117,074
74,225
42,849

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

92,192

103,535

90,544

112,511

9,356
4,872
0
0

60,195
5,570
0
0

27,119
0
0
0

64,632
27,049
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

6,861,676

6,575,665

13,945,550

33,675,770

82,960,567

27,896,393

11,297,742

11,720,494

19,924,558

39,952,133

63,233,217
13,400,008

19,095
151,356

6,840,058
599,730

6,557,603
614,048

13,811,683
626,661

33,552,912
641,541

6,156,969
686,456

117,083
18,333

21,618

18,062

133,867

122,858

122,704
12,988,657

0
26,136,701

7,249,954

9,405,151

24,211,101

23,488,969

459,020
10,748,871

1,623,514
3,114,550

1,142,485

1,805,240

1,617,524

1,687,038

3,955,342

806,584

1,922,982
543,316

923,448
623,349

2,690,153
1,408,885

4,680,896
261,508

422,607
2,514,425

0
0

2,310,773
1,330,398

3,657,596
2,395,518

13,918,430
4,576,109

11,159,668
5,699,859

450,857
3,405,640

1,970,603
337,363

3,775,974
689,726

4,810,719
2,389,782

7,252,214
1,300,000

7,436,369
1,943,035

6,395,469
1,005,853

3,954,457
3,384,536

3,086,248
2,889,789

2,420,937
1,800,000

5,952,214
15,422,520

5,493,334
28,674,764

5,389,616
60,425,731

569,921
2,847

58,565,354

11,422,520

12,879,902

0
0

0
0

2,889,789

1,800,000

4,000,000

15,794,862

259,366
1,601,011

1,550
1,297

7,445,867
1,529,400

9,370,097
1,682,340

15,481,917
1,934,692

21,053,606
2,128,161

26,888,238
2,979,426

27,053,639
3,277,369

1,529,400
0
5,916,467

1,682,340
0
7,687,757

1,934,692
0
13,547,225

2,128,161
0
18,925,445

2,979,426
0
23,908,812
10,228,600
13,680,212

3,277,369
0
23,776,270
10,624,874
13,151,396

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

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

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

1,669,915

1,768,906

4,065,253

2,237,371

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

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

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

19,583,286

5,248,606
16,110,197

60,140
22,127,016

14,112,080
519,802

19,138,589
1,016,117

11,816
0

20,856
0

47,475
3,379,518

363,701
4,898,054

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

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

339,100
606,175
582,898
(197,137)
71,787
0
0
725,974

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

217,531

682,894

1,605,438
439,905

2,176,960
369,400

61,398
1,055,246

0
1,668,800

4,888,922
1,610,634

6,431,165
3,141,681

3,278,288
11,514,930

3,289,484
11,064,315

11,155,098

11,014,224

0
0

0
0

38,312
321,520

50,091
0

6,395,643
5,203,677

6,985,860
6,634,688

5,203,677
0
1,191,966
984,751
207,215

6,634,688
0
351,172
972,413
(621,241)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

65,172,432

54,292,989
759,430

64,258,204
1,013,397

684,940
45,203

875,984
64,728

0
0

0
0

8,150
2,216,453

38,244
4,284,606

224,417

283,289

0
0

535,825
256,548

0
1,992,036

0
3,208,944

4,660,938
402,796

7,074,260
316,208

4,258,142
34,798,806

6,758,052
38,123,998

28,649,743

32,930,965

2,196,320
0

4,515,565
0

54,493
3,898,250

73,796
603,672

17,742,788
18,000,000

24,258,780
24,000,000

18,000,000
0
(257,212)
0
(257,212)

20,000,000
4,000,000
258,780
790,000
(531,220)

0
0
0
0
0
0
0
96,205
0
96,205

0
0
0
0
0
0
0
113,866
0
113,866

52,466
7,494
0
(97,121)
0
0
0
(1,969,691)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

14,563,103

14,930,339

16,458,265

15,847,104

17,781,417

17,018,327

20,120,510

21,471,656

23,989,416

24,341,924

0
25,174,496

0
25,569,760

14,563,103
939,438

14,930,339
983,910

16,458,265
990,138

15,847,104
1,190,072

15,576,899
100,612

14,706,760
37,354

0
2,127,972

0
2,235,255

10,018,343

12,751,017

12,587,706

30,924,567

76,546
18,443,765

76,312
18,317,665

6,931,615

7,235,749

3,800,569

7,941,524

9,648,031

12,720,051

1,022,957
115,081

800,535
231,272

587,946
243,751

5,676,739
285,454

1,227,013
476,728

1,270,667
829,985

734,275
1,214,415

1,411,150
3,072,311

5,305,812
2,649,628

2,416,770
14,604,080

4,658,936
2,433,057

1,250,000
2,246,962

14,797,322
2,696,287

17,545,673
4,990,045

19,397,990
6,333,615

35,601,867
18,712,705

16,747,253
8,186,073

15,389,027
5,880,534

12,101,035
2,056,593

12,555,628
1,597,987

13,064,375
1,139,054

16,889,162
683,433

8,561,180
8,818,028

9,508,493
7,736,933

2,056,593

1,597,987

1,139,054

7,727,531
9,341,100

8,537,696
9,341,100

9,341,100
0
(1,613,569)

227,810

4,537,404
0

3,889,203
0

683,433

0
4,052,814

0
3,847,730

8,508,927
9,341,100

10,486,371
9,341,100

10,659,901
9,341,100

12,210,032
9,341,100

9,341,100
0
(803,404)

9,341,100
0
(832,173)

9,341,100
0
1,145,271

9,341,100
0
1,318,801
228,350
1,090,451

9,341,100
0
2,868,932
228,350
2,640,582

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

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

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

1,541,914

1,767,118

1,543,811

2,548,763

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

10,858,576

11,177,191

11,959,724

14,300,047

37,065,297

38,288,132

22,879,707

23,698,672

25,628,842

28,622,189

0
26,410,997

0
28,570,528

9,184,727
605,875

9,607,957
665,735

10,390,490
719,957

12,730,813
891,514

29,570,418
2,293,437

31,057,091
2,516,955

1,673,849

1,569,234

1,569,234

1,569,234

1,569,234
5,505,253

1,569,234
5,121,130

17,590,563

16,253,090

17,281,490

17,618,916

420,392
33,106,400

540,677
35,728,730

1,172,113

1,623,229

1,350,000

931,865

13,497,379

14,074,152

560,472
659,713

952,905
961,427

642,836
1,722,602

258,094
495,929

1,371,100
733,614

1,482,387
1,187,941

12,253,258
2,945,007

6,409,382
6,306,147

9,352,793
4,213,259

11,256,342
4,676,686

11,427,504
6,076,803

13,270,581
5,713,669

14,680,709
4,392,288

13,279,988
5,418,417

13,839,919
4,163,581

14,255,536
3,857,036

34,387,111
16,073,826

35,958,208
13,280,359

10,288,421
981,078

7,861,571
1,193,750

9,676,338
2,671,250

10,398,500
5,378,214

18,313,285
16,448,585

22,677,849
14,789,505

4,806,619

3,819,405

432,986

216,493

4,537,404
0

3,889,203
0

548,092

977,257

2,671,250

5,378,214

143,808
6,960,754

175,441
6,905,456

12,787,352
4,934,742

12,956,543
4,934,742

12,730,045
4,934,742

12,285,213
4,934,742

19,336,001
6,785,271

23,269,149
6,785,271

4,934,742
0
7,852,610

4,934,742
0
8,021,801

4,934,742
0
7,795,303

4,934,742
0
7,350,471

6,785,271
0
12,550,730
6,224,069
6,326,661

6,785,271
0
16,483,878
6,961,291
9,522,587

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

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

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

4,540,661

5,247,604

4,800,349

6,111,963

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

265,711

486,662

539,456

610,987

1,278,224

1,300,404

363,926

539,514

630,496

732,701

0
1,435,864

0
1,555,899

265,711
23,829

486,662
45,170

539,456
42,106

610,987
33,245

1,273,098
45,403

1,294,927
108,664

0
33

0
33

302,887

455,804

678,905

870,642

5,093
474,850

5,444
681,611

66,458

12,301

41,681

35,807

45,744

56,493

97,077
5,763

145,341
12,612

133,816
31,938

180,788
24,454

280,925
57,955

39,000
74,110

76,209
57,380

224,968
60,582

336,576
134,894

397,901
231,692

0
90,226

0
512,009

118,716
11,456

157,623
10,835

202,560
21,624

245,861
59,150

269,146
95,657

361,241
131,128

107,260
11,874

146,788
5,321

180,936
76,212

186,711
157,520

173,488
228,498

230,113
138,407

174,538

79,938

0
0

0
0

11,874

5,321

76,212

157,520

0
53,960

0
58,469

438,008
77,282

779,522
100,467

939,589
120,561

1,078,248
144,673

1,255,431
173,607

1,482,368
208,329

77,282
0
360,726

100,467
0
679,055

120,561
0
819,028

144,673
0
933,575

173,607
0
834,349
39,312
795,037

208,329
0
1,032,018
24,794
1,007,224

247,475

242,021

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

1,189,257
1,189,257
0
584,147
517,152
66,995
605,110
381,707
271,025
110,682

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

188,945

233,925

283,637

281,219

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,638,766

2,487,650

2,477,898

2,447,092

4,820,650

4,946,409

5,149,179

5,425,000

5,590,156

5,732,852

44,006
6,860,570

20,020
6,974,506

2,638,766
222,109

2,487,650
203,801

2,477,898
267,844

2,447,092
261,107

2,986,512
287,276

2,882,146
280,749

0
1,781,013

0
2,033,846

2,618,086

2,739,192

2,767,270

3,421,747

9,119
3,272,306

10,397
2,852,669

161,569

13,801

20,185

94,729

172,855

136,418

1,710,624
488,900

1,662,434
331,347

1,484,363
527,080

1,719,387
643,811

1,956,512
544,109

1,392,237
523,609

159,650
97,343

302,204
429,406

300,500
435,142

300,500
663,320

0
598,830

0
800,405

1,993,910
1,298,162

2,676,825
845,910

2,603,355
1,054,015

2,652,657
902,852

2,481,070
1,745,657

1,717,945
616,347

695,748
413,177

1,830,915
461,013

1,549,340
458,836

1,749,805
934,108

735,413
832,783

1,101,598
769,657

337,472

298,815

0
0

0
0

413,177

461,013

458,836

934,108

58,999
436,312

68,392
402,450

2,849,765
383,645

2,089,004
383,645

2,182,977
383,645

2,282,074
383,645

4,779,103
383,645

5,311,476
383,645

383,645
0
2,466,120

383,645
0
1,705,359

383,645
0
1,799,332

383,645
0
1,898,429

383,645
0
4,395,458
458,645
3,936,813

383,645
0
4,927,831
458,645
4,469,186

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

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

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

162,509

133,275

206,735

409,724

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

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

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

1,105,696

196,607
876,971

265,234
885,270

860,921
15,535

812,912
56,308

0
0

0
0

13,983
57,785

27,551
178,414

8,310

85,605

6,735
9,640

19,035
19,604

0
33,100

0
54,171

64,706
18,474

172,856
75,426

46,232
354,819

97,430
465,688

261,692

336,816

0
0

100,772
0

0
93,127

0
28,100

709,771
724,500

645,567
724,500

724,500
0
(14,729)
30,000
(44,729)

724,500
0
(78,933)
30,000
(108,933)

25,651
25,651
0
23,741
61
23,680
1,910
39,680
10,844
28,836

270,617
270,617
0
245,108
2,231
242,877
25,508
106,316
52,335
53,981

19,371
2,001
1,811
(38,367)
7,500
0
0
(211,062)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,503,102

1,774,449

2,236,720

2,415,255

5,027,966

5,231,199

2,982,661

3,374,753

3,659,024

4,185,025

422,278
5,353,035

822,560
5,620,811

1,503,102
151,605

1,774,449
152,766

2,236,720
172,362

2,415,255
231,041

3,407,310
310,126

3,367,436
371,834

956,045
168,687

955,742
0

6,757,409

7,669,373

7,927,789

8,210,370

73,646
9,402,942

85,461
9,660,600

3,984,299

4,666,470

4,252,745

2,724,897

2,053,153

2,808,772

1,972,953
64,881

2,195,407
84,697

2,277,175
116,847

3,494,054
1,016,968

4,543,689
1,328,457

4,312,535
295,762

387,719
347,557

195,525
527,274

445,057
835,965

327,366
647,085

644,889
832,754

901,955
1,341,576

1,317,503
0

1,906,904
0

2,046,868
0

2,270,734
0

3,346,868
4,520

3,560,293
0

1,317,503
0

1,906,904
0

2,046,868
0

2,270,734
0

3,342,348
490,554

3,560,293
531,692

0
0

0
0

72,885
417,669

115,240
416,452

6,943,008
1,092,300

7,536,918
1,365,375

8,117,641
1,706,719

8,354,891
1,706,718

10,593,486
1,706,718

10,799,814
1,964,118

1,092,300
0
5,850,708

1,365,375
0
6,171,543

1,706,719
0
6,410,922

1,706,718
0
6,648,173

1,706,718
0
8,886,768
2,866,368
6,020,400

1,964,118
0
8,835,696
2,612,811
6,222,885

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

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

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

1,489,144

1,711,871

1,921,451

2,057,496

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

553,089

555,663

662,532

749,780

779,574

840,529

712,029

753,434

860,113

957,891

37,199
996,613

13,484
1,064,508

511,097
52,697

515,255
52,925

618,702
55,527

683,288
56,276

675,428
64,765

696,384
63,767

41,992

40,408

43,830

66,492

65,385
0

129,099
0

524,779

600,964

676,438

726,367

1,562
966,467

1,562
901,894

13,504

15,565

11,857

7,178

32,177

65,485

281,658
0

359,569
125,547

418,423
187,341

449,901
140,987

700,501
27,137

640,845
42,107

20,000
209,617

20,000
80,283

20,000
38,817

10,000
118,301

0
206,651

0
153,457

524,614
331,058

591,515
313,590

594,336
284,274

680,638
389,580

765,794
611,497

640,562
499,418

193,556
31,527

277,925
40,881

310,062
86,182

291,058
96,472

154,297
297,680

141,144
387,956

70,554

127,850

0
0

0
0

31,527

40,881

86,182

96,472

113,273
113,853

138,545
121,562

521,727
113,612

524,231
130,654

658,452
150,252

699,037
165,277

682,567
165,277

713,905
165,277

113,612
0
408,115

130,654
0
393,577

150,252
0
508,200

165,277
0
533,760

165,277
0
322,900
0
322,900

165,277
0
360,153
0
360,153

194,389

188,475

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

2,478,391
2,377,409
100,981
1,574,598
1,250,804
323,794
903,793
682,661
483,659
199,002

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

397,056

539,667

668,967

623,662

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

6,141,684

8,415,034

8,546,473

9,361,469

10,025,878

9,881,626

15,426,468

18,544,997

19,468,875

21,023,833

416,883
22,584,248

285,356
23,291,541

6,037,873
666,011

8,343,260
688,876

8,506,736
842,352

9,353,769
774,007

9,445,987
949,609

9,224,944
997,749

103,811

71,774

39,737

7,700

0
2,500

180,103
2,500

8,597,937

8,514,550

10,259,818

9,109,216

160,508
11,053,575

188,723
11,829,073

1,687,656

1,791,151

3,615,056

1,971,081

4,547,713

4,739,557

2,511,481
647,009

2,347,790
730,676

2,311,336
1,049,464

2,951,956
806,612

3,253,345
944,879

3,816,680
818,351

212,500
3,539,291

212,500
3,432,433

582,500
2,701,462

712,500
2,667,067

0
2,307,638

0
2,454,485

4,560,730
0

5,540,354
3,613

6,395,674
0

5,059,764
0

5,909,528
36,038

5,566,621
0

4,560,730
0

5,536,741
0

6,395,674
0

5,059,764
0

5,873,490
1,208,356

5,566,621
1,093,429

0
0

0
0

519,579
688,777

693,286
400,143

10,178,891
1,388,023

11,389,230
1,388,023

12,410,617
1,388,023

13,410,921
1,388,023

13,961,569
1,388,023

15,050,649
1,388,023

1,388,023
0
8,790,868

1,388,023
0
10,001,207

1,388,023
0
11,022,594

1,388,023
0
12,022,898

1,388,023
0
11,629,422
465,845
11,163,577

1,388,023
0
12,745,246
465,845
12,279,401

944,124

917,380

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

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

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

1,617,641

1,773,800

2,060,085

2,677,116

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,536,327

2,536,078

2,491,106

2,424,996

2,714,739

2,618,994

1,870,898

3,022,524

3,171,273

3,283,458

32,919
3,676,766

54,380
3,751,613

1,533,726
76,837

2,534,327
151,281

2,489,568
194,701

2,420,855
181,901

2,598,293
206,274

2,470,758
205,356

2,601

1,751

1,538

4,141

9,755
61,586

7,907
64,500

862,771

1,024,421

1,042,350

1,065,915

12,186
1,211,614

21,449
1,261,499

80,831

257,713

29,130

40,859

26,494

15,399

95,014
171,516

144,617
201,342

102,285
444,614

144,335
297,437

128,307
601,687

197,815
501,812

341
515,069

1,817
418,932

65,542
400,779

136,057
447,227

0
455,126

0
546,473

937,998
608,534

1,211,382
691,847

1,323,098
835,414

921,398
345,391

993,984
461,590

1,023,069
634,313

329,464
926,853

519,535
1,083,704

487,684
802,509

576,007
1,150,491

532,394
1,341,141

388,756
1,163,117

953,803

830,501

166,533

83,266

29,810
0

15,810
0

760,320

1,000,438

802,509

1,150,491

5,515
352,013

10,214
306,592

534,247
300,000

1,265,413
300,000

1,407,849
360,000

1,419,022
360,000

1,591,228
360,000

1,694,307
360,000

300,000
0
234,247

300,000
0
965,413

360,000
0
1,047,849

360,000
0
1,059,022

360,000
0
482,669
4,261
478,408

360,000
0
585,748
9,740
576,008

748,559

748,559

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

3,633,404
3,633,404
0
2,792,628
413,865
2,378,763
840,776
340,747
218,750
121,997

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

184,595

167,965

191,202

226,778

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

106,351

104,686

99,862

172,410

173,156

196,883

253,430

262,358

266,301

346,072

1,499
353,341

26,217
360,277

106,351
10,796

104,686
10,591

99,862
9,897

172,410
9,721

170,743
9,672

169,023
10,218

64
0

50
0

174,291

161,157

171,498

187,351

850
210,729

1,593
168,680

2,111

1,786

1,166

1,144

1,244

1,130

0
23,683

111,927
14,634

112,816
33,414

130,573
27,013

144,725
40,230

117,267
19,124

0
148,497

0
32,810

0
24,102

0
28,621

0
24,530

0
31,159

132,271
55,103

108,814
59,037

129,931
61,175

152,747
82,264

145,340
84,135

132,363
82,675

77,168
8,259

49,777
2,420

68,756
1,735

70,483
2,357

61,205
12,529

49,688
19,184

3,656

10,584

0
0

0
0

8,259

2,420

1,735

2,357

0
8,873

0
8,600

140,112
75,000

154,609
75,000

139,694
75,000

204,657
75,000

226,016
75,000

214,016
75,000

75,000
0
65,112

75,000
0
79,609

75,000
0
64,694

75,000
0
129,657

75,000
0
72,818
0
72,818

75,000
0
60,818
0
60,818

78,198

78,198

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

430,924
257,564
173,360
349,855
171,590
178,265
81,069
43,265
4,013
39,252

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

32,945

37,184

37,000

38,213

14,838
4,130
8,502
0

20,488
5,386
0
0

5,038
3,058
0
0

181
2,371
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

12,568,358

11,704,801

10,745,850

9,952,791

9,432,597

8,999,122

24,571,597

12,430,062

25,453,555

25,856,228

192,706
26,026,418

576,645
26,408,823

12,568,358
1,622,352

11,704,801
1,372,015

10,745,850
1,175,540

9,952,791
1,193,726

9,141,947
1,205,464

8,313,263
1,243,432

861
0

406
0

4,858,220

6,211,023

6,568,981

5,270,119

97,083
9,543,763

108,808
13,896,908

32,153

57,703

74,186

16,446

5,437,940

6,910,308

2,835,633
779,160

3,703,077
804,809

2,344,637
2,818,667

1,244,313
1,089,614

1,273,922
1,800,772

2,655,203
2,937,816

0
1,211,274

0
1,645,434

0
1,331,491

0
2,919,746

0
1,031,129

364,644
1,028,937

8,962,846
5,129,993

11,495,391
5,576,034

7,108,190
1,568,267

10,669,595
83,615

5,750,627
119,293

8,054,478
146,577

3,832,853
2,024,022

5,919,357
533,767

5,539,923
4,379,041

10,585,980
400,188

5,631,334
7,308,015

7,907,901
5,153,170

2,024,022

533,767

4,379,041

6,439,710
15,142,072

5,886,666
15,142,072

15,142,072
0
(8,702,362)

351,796

214,445

5,322,397
0

3,437,500
0

400,188

9,999
1,623,823

14,749
1,486,476

5,827,600
15,142,072

4,153,127
15,142,072

5,917,718
15,142,072

9,688,382
15,142,072

15,142,072
0
(9,255,406)

15,142,072
0
(9,314,472)

15,142,072
0
(10,988,945)

15,142,072
0
(9,310,346)
2,345
(9,312,691)

15,142,072
0
(5,539,682)
2,345
(5,542,027)

85,992

85,992

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

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

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

517,628

685,005

286,382

1,673,308

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

171,116

134,422

142,985

113,888

124,071

113,633

413,030

384,367

406,765

390,776

0
390,045

0
390,237

171,116
14,737

134,422
12,911

142,985
13,834

113,888
13,109

103,634
11,939

93,196
10,629

0
0

0
0

86,572

113,560

122,417

147,936

20,437
109,612

20,437
101,022

1,495

1,518

3,244

1,670

967

1,193

20,778
48,924

16,003
51,580

21,336
75,376

39,290
63,375

25,332
62,702

28,164
48,402

0
15,375

0
44,459

0
22,461

0
43,601

0
20,611

0
23,264

232,576
89,997

177,010
43,056

235,900
39,392

250,323
39,038

237,868
39,169

235,045
37,009

142,579
247,947

133,954
189,706

196,508
188,996

211,285
196,877

198,699
203,931

198,036
205,686

192,914

191,414

0
0

0
0

247,947

189,706

188,996

196,877

11,017
0

14,272
0

(222,835)
73,554

(118,734)
73,554

(159,494)
73,554

(185,376)
73,554

(208,117)
73,554

(226,076)
73,554

73,554
0
(296,389)

73,554
0
(192,288)

73,554
0
(233,048)

73,554
0
(258,930)

73,554
0
(281,671)
58,220
(339,891)

73,554
0
(299,630)
58,220
(357,850)

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

233,300
232,237
1,064
212,665
161,720
50,945
20,635
37,929
8,213
29,717

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

56,066

38,634

47,460

45,143

(53,460)
1,330
0
0

49,423
1,015
0
0

(22,970)
1,331
0
0

(24,633)
1,249
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,090,510

1,136,023

1,211,452

1,175,067

1,181,700

1,135,977

1,324,910

1,415,216

1,546,502

1,572,676

89,439
1,537,318

78,295
1,560,696

1,090,510
28,322

1,136,023
45,973

1,211,452
57,771

1,175,067
63,357

1,074,138
66,019

1,030,470
67,711

0
0

0
0

328,757

315,966

437,330

517,350

18,123
493,032

27,213
558,663

126,280

93,361

135,168

49,647

2,722

3,892

67,379
108,753

66,871
121,462

123,055
128,771

210,677
147,171

180,235
208,223

202,372
196,424

0
26,345

0
34,272

0
50,336

0
109,855

0
101,852

0
155,975

319,460
58,942

916,480
5,032

1,244,691
98,344

1,324,507
70,475

430,664
291,409

516,060
404,438

260,518
553,757

911,448
176,471

1,146,347
144,195

1,254,032
106,848

139,255
1,129,723

111,622
1,059,668

126,993

29,772

983,026
0

1,005,085
0

553,757

176,471

144,195

106,848

19,704
0

24,811
0

546,050
884,724

359,038
1,105,905

259,896
1,105,905

261,062
1,105,905

114,344
1,105,905

118,913
1,105,905

884,724
0
(338,674)

1,105,905
0
(746,867)

1,105,905
0
(846,009)

1,105,905
0
(844,843)

1,105,905
0
(991,561)
0
(991,561)

1,105,905
0
(986,993)
0
(986,993)

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

1,383,579
1,378,314
5,265
1,282,681
1,009,945
272,736
100,898
73,003
42,143
30,860

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

225,625

58,806

59,721

66,639

(276,697)
2,852
0
0

(117,101)
3,049
0
0

(93,943)
5,019
0
0

27,851
5,435
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

139,341

202,755

305,666

348,244

332,082

314,853

333,000

411,248

538,654

616,587

5,139
640,546

9,581
665,041

139,341
14,592

202,755
20,843

305,666
27,546

348,244
40,561

321,558
53,892

298,736
58,712

0
0

0
0

310,930

315,261

347,114

471,503

5,385
478,726

6,536
487,360

2,071

2,917

3,967

3,217

2,660

3,371

91,667
143,794

81,316
139,983

151,489
131,530

185,047
19,749

216,862
172,449

257,987
141,556

0
73,398

0
91,045

0
60,128

0
263,490

0
86,755

0
84,446

215,636
65,798

257,776
57,654

317,469
56,383

458,247
148,723

429,112
150,490

376,233
132,507

149,838
0

200,122
0

261,086
33,333

309,524
16,666

278,622
37,731

243,726
31,162

0
0

0
0

33,333

16,666

0
37,731

0
31,162

234,635
100,000

260,240
100,000

301,978
100,000

344,834
100,000

343,965
100,000

394,818
100,000

100,000
0
134,635

100,000
0
160,240

100,000
0
201,978

100,000
0
244,834

100,000
0
243,965
0
243,965

100,000
0
294,818
0
294,818

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

1,236,300
1,236,300
0
922,723
469,790
452,933
313,577
262,183
172,792
89,391

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

153,256

169,666

207,866

248,959

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

19,857

19,857

26,322

43,887

50,156

50,671

104,178

104,178

115,025

111,092

4,425
116,551

710
124,587

19,857
3,987

19,857
3,987

26,322
3,366

43,887
3,982

44,955
5,938

49,185
6,974

0
0

0
0

267,225

267,225

249,732

294,037

776
404,237

776
267,509

8,806

8,806

15,452

28,592

10,406

17,944

185,970
29,259

185,970
29,256

123,377
63,370

164,273
75,064

300,188
52,810

142,891
76,606

0
43,190

0
43,193

0
47,533

0
26,108

0
40,833

0
30,068

148,412
70,000

148,412
70,000

139,227
92,400

151,014
120,000

279,104
230,462

196,975
165,000

78,412
0

78,412
0

46,827
0

31,014
0

48,642
0

31,975
0

0
0

0
0

0
0

0
0

138,670
32,186

138,670
32,186

136,827
35,405

186,910
42,486

175,289
42,486

121,205
42,486

32,186
0
106,484

32,186
0
106,484

35,405
0
101,422

42,486
0
144,424

42,486
0
132,803
17,553
115,250

42,486
0
78,719
17,553
61,166

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

566,982
185,460
381,522
499,680
463,420
36,260
67,302
46,845
15,773
31,072

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

32,654

32,654

36,212

56,085

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

499,919

198,556

490,333

487,267

187,795

173,602

382,764

85,456

379,248

379,161

0
65,735

0
65,854

364,832
4,508

63,468
4,057

355,245
3,611

352,179
3,090

56,928
2,778

53,736
3,312

135,087

135,088

135,088

135,088

0
0

0
0

9,828

307,256

8,553

2,685

130,867
4,510

119,866
6,740

664

276

223

52

46

225

2,110
5,606

1,718
0

898
6,122

436
1,492

785
2,249

959
3,303

0
1,448

0
305,262

0
1,310

0
705

0
1,430

0
2,254

537,172
15,000

457,492
50,514

315,906
51,007

229,988
47,991

243,809
47,991

253,852
47,991

522,172
0

406,978
0

264,899
0

181,997
0

195,818
158

205,861
162

0
0

0
0

158
0

162
0

(27,425)
49,860

48,320
149,580

182,980
149,580

259,964
149,580

(51,662)
149,580

(73,672)
149,580

49,860
0
(77,285)

149,580
0
(101,260)

149,580
0
33,400

149,580
0
110,384

149,580
0
(368,961)
0
(368,961)

149,580
0
(378,352)
0
(378,352)

167,719

155,100

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

3,751
3,751
0
25,808
1,987
23,821
(22,057)
4,433
1,343
3,091

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

8,028

5,472

5,543

9,126

(36,384)
62
0
0

(23,662)
55
0
0

(19,093)
61
0
0

77,025
40
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

632,195

702,001

792,008

1,195,978

1,401,888

1,424,415

1,315,197

1,419,819

1,597,554

2,092,519

618,974
1,779,908

119,808
2,369,446

632,195
58,263

702,001
68,558

791,082
95,351

1,195,249
105,477

774,373
129,228

1,289,113
174,530

926

729

114
0

339
0

1,489,014

1,286,001

1,636,045

1,788,377

8,427
2,037,205

15,155
1,924,012

6,234

3,879

2,102

2,186

2,286

2,110

1,073,968
83,364

797,286
147,093

1,077,021
137,920

1,104,944
151,951

1,136,737
345,808

1,148,158
156,547

0
325,448

0
337,743

0
419,002

0
529,296

0
552,374

0
617,197

1,154,745
556,396

871,861
267,256

1,313,929
542,185

1,867,743
872,512

2,075,329
1,367,818

1,368,817
366,065

598,349
62,500

604,605
0

771,744
0

995,231
0

707,511
71,315

1,002,752
518,207

7,233

380,008

0
0

0
0

62,500

0
64,082

0
138,199

903,964
96,448

1,116,141
96,448

1,114,124
96,448

1,116,612
96,448

1,292,449
96,448

1,461,403
96,448

96,448
0
807,516

96,448
0
1,019,693

96,448
0
1,017,676

96,448
0
1,020,164

96,448
0
1,196,001
55,548
1,140,453

96,448
0
1,364,955
74,176
1,290,779

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

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

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

719,876

851,171

872,326

937,154

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

40,925

37,103

37,618

33,007

34,832

31,112

112,614

113,370

117,691

117,367

0
117,789

0
117,764

40,925
5,296

37,103
4,619

37,618
5,283

33,007
4,505

31,447
4,448

28,415
3,997

0
0

0
0

113,414

116,454

125,545

131,744

3,385
127,161

2,697
131,906

762

3,052

7,398

3,032

7,684

9,362

42,788
52,774

40,387
0

38,807
65,758

39,451
73,414

28,814
73,623

27,381
76,185

0
17,090

0
73,015

0
13,582

0
15,847

0
17,040

0
18,978

64,812
53,845

64,529
52,499

68,642
55,199

71,618
57,651

65,764
50,328

66,105
49,092

10,967
2,562

12,030
1,650

13,443
4,333

13,967
2,380

15,436
4,190

17,012
3,119

4,190

3,119

0
0

0
0

2,562

1,650

4,333

2,380

0
0

0
0

86,965
60,000

87,378
60,000

90,188
60,000

90,753
60,000

92,040
60,000

93,795
60,000

60,000
0
26,965

60,000
0
27,378

60,000
0
30,188

60,000
0
30,753

60,000
0
32,040
30,000
2,040

60,000
0
33,795
30,000
3,795

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

127,708
126,632
1,076
94,859
68,477
26,383
32,849
20,244
6,838
13,406

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

17,301

19,039

21,096

19,862

(1,084)
457
0
0

949
535
0
0

4,957
588
1,500
0

2,316
811
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

713,324

769,655

787,845

670,447

707,079

817,866

888,155

1,046,677

1,077,199

1,108,374

0
1,153,939

354
1,355,814

660,939
68,815

726,246
77,597

687,698
89,793

652,897
86,455

619,920
96,471

740,195
93,183

52,385

43,409

100,147

17,550

82,393
0

69,445
0

1,234,642

1,596,338

1,771,538

1,626,160

4,766
1,872,052

7,872
2,334,005

25,041

73,925

93,762

69,274

232,053

132,808

216,156
659,677

239,555
904,224

385,618
1,067,121

223,520
988,425

384,931
1,043,967

545,421
1,387,399

200,000
133,768

200,000
178,634

0
225,037

200,000
144,941

0
211,101

0
268,377

927,966
336,101

942,956
237,250

1,175,336
297,465

963,029
262,650

1,011,197
395,818

1,345,028
496,706

591,865
66,625

705,706
447,586

877,871
335,908

700,379
210,346

615,379
205,096

848,322
117,795

106,065

22,927

0
0

0
0

66,625

447,586

335,908

210,346

25,214
73,817

29,187
65,681

953,375
200,090

975,451
220,099

1,048,139
242,109

1,123,232
266,320

1,362,838
266,320

1,689,048
306,268

200,090
0
753,285

220,099
0
755,352

242,109
0
806,030

266,320
0
856,912

266,320
0
866,666
119,513
747,153

306,268
0
1,175,297
124,060
1,051,237

229,852

207,483

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

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

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

480,284

696,434

763,506

654,077

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

36,738

33,673

31,629

29,061

114,679

125,183

72,642

72,642

72,992

72,992

0
72,992

0
72,992

36,738
3,404

33,673
3,064

31,629
2,827

29,061
2,568

26,738
2,324

24,632
2,106

0
87,718

0
100,327

193,536

193,456

242,363

256,693

224
209,458

224
213,482

114

466

114

509

613

1,159

13,343
4

10,785
0

14,416
557

7,012
11,605

250
20,480

651
14,867

14,224
165,851

14,225
167,980

57,779
169,497

54,932
182,635

0
188,115

0
196,805

118,171
73,017

94,573
52,593

97,712
49,992

113,224
49,992

72,712
49,992

72,175
49,992

45,154
0

41,980
0

47,720
0

63,232
0

22,721
38,798

22,184
39,032

112,103
120,000

132,556
120,000

120,000
0
(7,897)

37,940
0

37,940
0

858
0

1,092
0

176,280
120,000

172,530
120,000

212,627
120,000

227,457
120,000

120,000
0
12,556

120,000
0
56,280

120,000
0
52,530

120,000
0
81,347
0
81,347

120,000
0
97,083
0
97,083

11,280

10,374

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

125,501
125,501
0
105,636
95,470
10,166
19,865
12,528
3,573
8,956

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

1,535

1,299

1,992

16,925

34,089
62
0
0

17,396
31
0
0

1,827
92
0
0

11,103
643
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,442,688

3,454,742

4,220,212

4,824,079

7,970,083

8,530,981

3,693,866

4,858,301

5,864,276

6,684,164

286,017
7,116,722

186,189
8,157,033

2,442,688
147,819

3,454,742
156,949

4,220,212
260,033

4,824,079
416,078

4,851,602
412,745

5,489,389
435,158

0
2,782,841

0
2,810,097

1,179,521

1,915,733

2,164,359

3,969,314

49,623
2,143,328

45,306
1,779,477

81,447

400,982

252,695

240,943

294,165

142,970

319,146
247,078

407,042
353,050

441,676
561,087

526,916
563,788

773,762
663,921

502,292
433,457

17,719
514,131

15,384
739,275

82,795
826,106

1,352,350
1,285,317

0
411,481

0
700,758

1,477,592
239,723

2,249,002
899,457

2,596,401
222,628

3,453,388
268,280

2,343,211
540,091

2,128,504
1,447,808

1,237,869
649,949

1,349,545
1,463,581

2,373,773
1,865,953

3,185,108
1,797,673

1,803,120
3,801,664

680,696
3,876,984

2,785,752

2,735,240

122,400

1,108,874

1,646,875

0
0

0
0

527,549

354,707

219,078

1,797,673

5,206
1,010,706

6,713
1,135,031

1,494,668
185,536

1,657,892
185,586

1,922,217
185,536

3,542,332
204,090

3,968,537
204,090

4,304,971
204,090

185,536
0
1,309,132

185,586
0
1,472,306

185,536
0
1,736,681

204,090
0
3,338,242

204,090
0
2,757,899
86,770
2,671,130

204,090
0
3,156,262
113,554
3,042,708

1,006,548

944,619

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

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

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

292,397

333,290

259,512

330,701

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

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

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

2,263,653

157,666
2,384,410

7,375
2,567,467

2,228,698
105,239

2,252,573
161,391

0
0

0
0

8,115
572,625

3,705
484,126

6,670

4,335

343,495
48,651

254,687
56,154

0
173,809

0
168,950

725,797
523,365

651,597
434,487

202,432
1,321,594

217,110
1,355,614

1,223,175

1,353,196

0
0

0
0

932
97,487

2,419
0

919,713
551,000

740,568
551,000

551,000
0
(181,635)
0
(181,635)

551,000
0
(331,308)
0
(331,308)

550,348

520,875

628,523
622,727
5,796
525,874
157,277
368,598
102,648
44,762
13,131
31,631

727,018
718,948
8,070
694,248
119,003
575,245
32,770
61,867
25,146
36,721

38,183
245,934
237,349
(188,047)
41
0
0
(234,448)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

11,002

12,862

32,338

39,574

278,101

347,692

29,929

31,802

53,712

65,087

0
65,087

0
167,056

11,002
3,859

12,862
4,791

32,338
1,589

39,574
8,924

82,305
13,490

117,010
23,115

0
191,319

0
224,408

172,462

235,630

293,721

470,796

4,477
435,307

6,274
587,591

7,879

5,776

10,213

3,279

29,883

46,321

35,031
2,464

92,014
3,644

128,294
15,148

271,236
4,346

353,480
3,218

453,228
20,687

26,394
100,694

26,394
107,802

26,394
113,672

149,305
42,630

0
48,726

0
67,355

77,151
2,277

151,490
27,431

216,630
26,484

371,733
48,083

450,178
24,197

702,518
122,188

74,874
2,147

124,059
4,189

190,146
13,767

323,650
7,113

425,981
53,461

580,330
62,749

37,805

39,279

0
0

0
0

2,147

4,189

13,767

7,113

3,471
12,185

5,494
17,976

104,166
66,000

92,813
72,600

95,662
72,600

131,524
72,600

209,769
83,490

170,016
91,839

66,000
0
38,166

72,600
0
20,213

72,600
0
23,062

72,600
0
58,924

83,490
0
126,279
0
126,279

91,839
0
78,177
0
78,177

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

773,324
773,324
0
585,932
413,065
172,867
187,392
178,746
158,125
20,621

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

50,112

60,849

87,419

129,481

2,293
344
0
0

(11,341)
60
0
0

3,547
1,372
0
0

22,307
3,998
0
10,890

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

128,062

122,532

117,470

109,852

142,618

138,315

218,840

219,717

221,748

222,933

0
109,852

0
229,758

128,062
7,506

122,532
6,426

117,470
6,278

109,852
7,420

110,111
6,500

105,209
8,069

0
32,507

0
33,106

275,036

290,177

308,866

460,246

0
399,766

0
358,411

13,418

8,854

30,576

9,405

18,653

24,373

49,237
137,815

46,329
144,388

57,345
157,117

117,445
247,918

50,339
283,805

51,423
241,500

25,000
49,566

25,000
65,606

25,703
38,125

31,405
54,073

2,647
44,322

2,671
38,444

158,969
102,690

180,909
99,986

211,209
104,434

270,978
87,091

176,566
60,537

103,584
662

56,279
37,500

80,923
18,750

106,775
0

183,887
0

116,029
14,693

102,922
11,025

0
0

0
0

37,500

18,750

0
14,693

0
11,025

206,629
75,000

213,050
90,000

215,127
90,000

299,120
90,000

351,126
90,000

382,117
90,000

75,000
0
131,629

90,000
0
123,050

90,000
0
125,127

90,000
0
209,120

90,000
0
261,126
944
260,182

90,000
0
292,117
944
291,173

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

715,258
715,258
0
490,092
417,785
72,307
225,166
62,558
33,633
28,925

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

28,761

34,120

37,123

64,229

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

174,000

179,707

217,458

226,632

193,721

161,701

378,501

402,804

455,508

466,652

0
391,738

159
395,728

174,000
21,012

179,707
22,631

217,458
25,207

226,632
33,956

179,681
33,537

144,728
39,261

0
0

0
0

1,245,588

1,507,341

1,607,276

1,282,920

14,040
1,258,573

16,814
1,391,209

397,411

25,506

51,993

50,911

35,648

241,928

498,684
71,915

610,803
109,399

563,189
138,572

756,391
242,804

800,768
277,447

828,388
50,431

0
277,578

575,000
186,633

720,000
133,522

87,000
145,814

0
144,710

0
270,462

342,705
1,010

409,001
0

413,281
0

378,700
0

464,793
0

544,087
0

341,695
0

409,001
0

413,281
0

378,700
0

464,793
5,238

544,087
0

0
0

0
0

0
5,238

0
0

1,076,883
142,161

1,278,047
142,161

1,411,453
142,161

1,130,852
142,161

982,263
142,161

1,008,823
142,161

142,161
0
934,722

142,161
0
1,135,886

142,161
0
1,269,292

142,161
0
988,691

142,161
0
840,102
0
840,102

142,161
0
866,662
0
866,662

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

2,306,323
2,105,782
200,541
1,805,262
1,038,556
766,706
501,061
544,076
332,283
211,793

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

374,761

425,537

447,382

541,244

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

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

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

18,409,547

21,856,012

27,342,336

30,352,045

28,935,095
18,261,485
2,312,376
148,062

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

25,300,272
2,378,827
12,330,027
4,479,538
2,356,821
3,755,059
19,072,166
7,203,811
11,868,355
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
18,079,442
6,512,154
6,512,154
0
11,567,288

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

88,455,411
84,602,572
3,852,839
74,321,839

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

14,133,572
7,392,739

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
33,953,814
2,172,883
31,780,931
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
45,149,917
2,829,090
42,320,827
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
16,994,770
10,122,155
6,872,615
10,010,049
2,238,935
1,691,452
9,351,141
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

6,859,886
2,019,273
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
13,383,940
8,393,937
4,990,003
7,878,314
2,213,131
1,694,143
9,379,188
3,408,652
4,518,990
515,974
10,555,638

24,637,653
221,854
3,194,579
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
1,451,546
3,348,038

64,302,867
2,021,120
3,323,760
4,850,210

0.48
0.79
5.06
2.02
1.33
84.02
1.42
16.67
42.47
30.60
2.94
7.17

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

0.30
2.34
6.48
1.14
1.20
74.44
1.23
12.19
28.10
21.81
1.32
3.82
6.54
9.92
0.23
6.44
40.08

0.27
1.79
6.23
1.14
1.19
78.56
1.24
9.73
21.75
16.53
2.16
3.70
6.53
7.49
0.03
6.10
48.19

7,392,739

8,258,867

9,191,426

11,425,344

699,368

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

7.76
0.00
7.43
27.76

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%

0
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios

25
Percentage

2009

27.99

30

2010

2009

2010

9.89

10

7.47

21.67 21.73

8
16.47

12.15
9.69

10
5

Percentage

20
15

Net Profit Before Tax

4
2

Return on
Return on
Assets
Equity

6.4 6.07

1.23 1.21 1.21 1.23

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

46,446

47,342

50,880

49,380

82,369

69,197

92,295

96,645

104,784

107,341

0
107,340

0
114,081

46,446
3,750

47,342
3,795

50,880
5,052

49,380
5,139

51,611
4,878

53,550
5,731

0
29,995

0
14,995

145,181

164,034

203,261

230,928

763
198,603

652
224,305

1,907

1,913

2,179

942

1,262

3,159

56,822
17,022

73,907
20,744

107,330
28,430

123,303
34,515

130,085
33,271

85,534
74,125

29,995
39,435

29,995
37,475

29,995
35,327

30,596
41,572

0
33,985

0
61,487

60,710
31,102

78,036
20,544

111,749
39,779

139,568
48,386

126,451
25,978

127,389
103,138

29,608
0

57,492
0

71,970
2,743

91,182
962

100,473
11,370

24,251
14,455

1,020

2,108

0
0

0
0

2,743

962

3,892
6,458

4,660
7,687

130,917
100,000

133,340
100,000

139,649
100,000

139,778
100,000

143,151
100,000

151,658
100,000

100,000
0
30,917

100,000
0
33,340

100,000
0
39,649

100,000
0
39,778

100,000
0
43,151
25,000
18,151

100,000
0
51,658
25,000
26,658

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

232,063
232,063
0
197,492
191,191
6,301
34,571
28,099
0
28,099

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

9,302

20,358

38,325

30,812

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

283,940

332,726

409,363

548,222

652,739

717,753

765,346

850,017

967,934

1,138,879

1,921
1,230,665

1,352
1,352,112

282,645
39,657

332,726
39,007

409,363
39,007

548,222
66,134

580,402
82,270

629,402
86,593

1,295

35,830

9,960
37,823

1,081,241

1,082,005

1,463,648

1,728,714

34,586
2,577,448

39,216
3,459,297

35,048

82,833

247,713

88,952

461,249

539,039

606,765
317,722

716,738
129,434

769,996
243,079

1,274,289
94,518

1,281,862
23,735

1,527,032
22,325

20,467
101,239

22,136
130,864

23,848
179,012

30,650
240,305

350,000
460,602

500,000
870,901

679,163
215,766

717,168
0

899,971
0

841,241
0

1,147,336

1,300,867

463,397
0

717,168
0

899,971
0

841,241
0

1,147,336
122,124

1,300,867
134,883

134,883

0
122,124

686,018
75,600

697,563
75,600

973,040
75,600

1,435,695
75,600

1,960,727
75,600

2,741,300
75,600

75,600
0
610,418

75,600
0
621,963

75,600
0
897,440

75,600
0
1,360,095

75,600
0
1,885,127
483
1,884,644

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

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

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

771,568

920,065

1,114,855

1,486,159

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

446,825

1,340,695

1,307,144

1,233,851

2,393,484

2,766,007

1,089,521

2,074,427

2,204,695

2,296,279

131,699
2,330,829

300,778
2,350,072

441,836
82,598

1,339,589
97,396

1,306,641
172,644

1,233,231
172,336

1,092,889
174,892

956,113
169,539

4,989

1,106

503

620

811
1,078,622

24,457
1,275,538

2,090,247

2,374,054

3,388,922

3,612,839

89,463
1,772,089

209,121
2,128,826

53,082

15,758

36,999

8,199

4,144

182,657

194,329
132,037

468,519
75,147

633,452
181,408

606,059
118,696

616,433
83,927

1,026,614
276,880

1,469,804
240,995

1,312,551
502,079

2,300,465
236,598

2,737,121
142,764

655,397
412,188

463,746
178,929

467,655
233,496

1,128,737
876,943

1,141,657
620,299

1,684,569
1,306,382

1,408,211
902,815

1,744,067
780,288

234,159
236,143

251,794
548,314

521,358
354,006

378,187
168,117

505,396
211,547

963,779
71,587

55,880

221,854

147,753

73,652

0
0

14,289

400,561

280,354

168,117

155,667

0
71,587

1,833,274
243,027

2,037,698
349,959

3,200,403
466,612

2,994,004
513,273

2,545,815
564,600

3,079,179
564,600

243,027
0
1,590,247

349,959
0
1,687,739

466,612
0
2,733,791

513,273
0
2,480,731

564,600

1,981,215
162,640
1,818,575

564,600
0
2,514,579
274,066
2,240,513

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

3,310,869
3,310,869

3,704,388
3,704,388

371,916
178,301

140,329
140,506

510,464
272,191

896,398
260,711

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

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

2,887,295
2,114,504
772,791
817,093
250,947
27,017
223,930

195,013
203,571
82,131
(105,071)
134,678

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

298,024

343,998

430,407

474,305

437,123

375,989

817,399

906,303

1,034,919

611,696

7,808
1,108,219

7,312
1,113,947

298,024
87,987

343,998
43,906

430,407
48,693

460,718
72,180

392,244
68,516

337,754
61,918

13,587

12,553

5,653
80

933,788

1,148,198

1,000,110

1,233,971

24,518
1,103,289

25,190
1,062,017

59,800

2,312

9,939

46,615

850

38,001

586,826
176,328

815,806
178,949

734,882
125,809

776,309
125,929

846,291
113,998

783,211
110,200

5,848
104,986

5,285
145,846

1,324
128,156

101,123
183,995

16,220
125,930

11,665
118,940

697,885
379,430

1,006,263
606,303

938,234
491,883

1,055,855
371,557

941,061
472,169

894,590
288,056

318,455
40,901

399,960
17,104

446,351
0

684,298
120,000

468,892
87,344

606,534
22,537

60,000

0
0

0
0

40,901

17,104

120,000

0
27,344

0
22,537

493,026
107,640

468,829
107,640

492,283
107,640

532,421
107,640

512,007
107,640

520,879
107,640

107,640
0
385,386

107,640
0
361,189

107,640
0
384,643

107,640
0
424,781

107,640
0
404,367

107,640
0
413,239

1,527,604
1,500,501
27,103
1,223,807

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

2,101,734
2,016,942
84,792
1,637,812
359,147
1,278,665
463,922
410,199
268,019
142,180

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

213,600

260,147

296,460

337,215

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

180,796

167,392

153,749

141,421

315,357

412,418

292,998

293,956

293,630

293,639

0
293,639

0
287,089

180,796
16,367

167,392
14,927

153,749
13,586

141,421
12,337

130,212
11,210

119,733
10,157

0
145,604

0
292,488

247,739

244,770

270,620

326,768

39,541
364,978

197
233,341

1,327

785

519

669

3,514

679

10,948
34,492

4,731
34,710

829
34,591

0
26,735

0
110,447

0
47,747

31,772
169,200

66,863
137,681

95,108
139,573

161,631
137,733

12,899
238,118

14,980
169,935

58,801
0

52,890
0

40,732
0

46,586
0

41,292
0

4,564
0

58,801
0

52,890
0

40,732
0

46,586
0

41,292
13,687

4,564
9,005

0
0

0
0

0
13,687

0
9,005

369,734
90,000

359,272
90,000

383,637
90,000

421,603
90,000

625,356
90,000

632,190
90,000

90,000
0
279,734

90,000
0
269,272

90,000
0
293,637

90,000
0
331,603

90,000
0
462,670
0
462,670

90,000
0
475,147
0
475,147

72,686

67,043

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

999,894
999,894
0
958,641
949,727
8,914
41,253
57,105
29,551
27,554

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

31,043

10,369

3,694

31,906

160
1,150
0
0

(12,833)
322
0
0

(723)
140
0
0

(25,004)
258
0
0

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

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

2,034,036

1,846,022
171,306

1,846,934
171,306

165,715
1,772

164,294
1,420

23,867
12,888

22,808
1,352

174

175

0
12,714

0
1,177

1,040,443

1,257,445

1,040,443
386,293

1,257,445
166,973

0
0
386,293

166,973

621,756
674,645

610,970
674,645

674,645
0
(52,889)

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

10,954

5,990

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

700,172

833,473

1,061,394

1,086,225

1,278,116

1,233,640

902,011

1,080,411

1,368,256

1,467,449

11,670
1,718,915

9,490
1,459,393

700,172
36,649

833,473
48,744

1,061,394
62,559

1,086,225
77,791

1,259,424
97,069

1,078,170
80,886

336,831

477,001

725,355

709,329

7,022
547,952

145,980
443,093

2,515

7,046

3,090

36,304

817

1,839

169,227
102,338

226,971
135,781

386,420
175,240

319,678
252,806

231,836
221,211

230,817
114,564

0
62,751

0
107,203

0
160,605

0
100,541

0
94,088

0
95,873

422,224
107,262

562,681
148,362

810,422
309,395

879,729
405,896

843,304

830,727

314,962
269,381

414,319
334,361

501,027
558,662

473,833
577,544

843,304
589,311

830,727
471,881

269,381

334,361

558,662

577,544

0
589,311

471,881

345,398
142,714

413,432
164,121

417,665
229,770

338,281
229,770

393,453
229,770

374,125
229,770

142,714
0
202,684

164,121
0
249,311

229,770
0
187,895

229,770
0
108,511

229,770

229,770
0
(49,315)

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)

(49,645)

(49,315)

213,328

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

1,542,996
1,160,605
382,391
199,078
100,631
59,242
41,389

120,411
195,368
128,766
(105,810)
20,192

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

689,361

691,694

1,013,140

1,143,173

1,220,805

1,251,279

1,289,759

1,328,461

1,714,584

1,924,153

7,265
2,018,903

7,265
2,160,901

689,361
41,879

691,694
70,953

1,013,140
133,026

1,139,456
92,037

1,160,831
86,177

1,209,670
88,329

3,717

3,345

3,011

544,277

672,832

667,273

781,780

49,364
921,011

31,333
932,477

23,411

35,247

50,345

38,585

58,617

51,008

215,265
185,502

288,961
233,345

292,316
204,082

361,022
225,487

437,345
278,970

346,808
337,710

0
120,099

0
115,279

0
120,530

0
156,686

0
146,079

0
196,951

788,236
318,101

1,002,102
529,665

959,560
527,987

1,158,906
645,772

1,041,023

1,200,553

470,135
207,483

472,437
188,540

431,573
279,455

513,134
344,127

1,041,023
570,806

1,200,553
468,243

207,483

188,540

279,455

344,127

0
570,806

468,243

237,919
153,333

173,884
153,333

441,398
153,333

421,920
153,333

529,987
350,000

514,960
350,000

153,333
0
84,586

153,333
0
20,551

153,333
0
288,065

153,333
0
268,587

350,000
0
(231,459)

350,000
0
(286,368)

(231,459)

(286,368)

411,446

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

1,860,988
1,696,467
164,521
1,554,592
697,888
856,704
306,396
211,171
128,256
82,915

301,332
185,187
52,927
(103,152)

307,026
174,824
77,931
(76,177)

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

49,236

44,661

40,547

36,845

33,624

30,643

172,750

172,750

172,750

172,750

0
172,750

0
172,750

49,236
8,562

44,661
4,574

40,547
4,115

36,845
3,702

33,514
3,331

30,517
2,997

0
110

0
126

117,215

116,649

114,824

121,979

0
134,536

0
107,773

18

17

18

10

11

25

0
74,656

0
75,190

0
75,047

0
83,904

842
98,553

0
103,436

18
42,523

18
41,424

73
39,686

154
37,911

0
35,130

0
4,312

328,242
17,887

329,164
0

325,241
0

327,493
0

331,139
0

332,878
0

310,355
0

329,164
0

325,241
0

327,493
0

331,139
0

332,878
0

0
0

0
0

0
0

0
0

(161,791)
20,000

(167,854)
20,000

(169,870)
20,000

(168,669)
20,000

(162,979)
20,000

(194,462)
20,000

20,000
0
(181,791)

20,000
0
(187,854)

20,000
0
(189,870)

20,000
0
(188,669)

20,000
0
(182,979)
92
(183,071)

20,000
0
(214,462)
108
(214,570)

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

0
0
0
0
0
0
0
6,457
0
6,457

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

40,633

5,813

6,754

6,242

(42,131)
0
0
0

(6,064)
0
0
0

(2,071)
0
0
0

1,120
0
0
0

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

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

14,674

16,049

4,279

3,363

3,363

13,603
4,590

2,040
3,133

3,815
3,001

2,395
2,651

1,278
742

527
751

64

322,463

342,230

530,246

440,755

300
623,102

226
592,035

231,965

21,171

130,961

68,307

8,071

8,788

18,709
37,471

66,925
54,359

129,154
98,741

143,362
176,327

145,372
97,922

196,761
126,089

13,029
21,289

0
199,775

0
171,390

0
52,759

371,737

260,397

107,941
0

91,989
0

304,781
0

179,491
0

261,267

203,491

107,941
0

91,989
0

304,781
0

179,491
0

261,267
0

203,491
0

228,189
192,000

252,281
192,000

229,280
192,000

263,659
192,000

363,413
192,000

389,297
192,000

192,000
0
36,189

192,000
0
60,281

192,000
0
37,280

192,000
0
71,659

192,000

192,000

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

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

245,928
229,963
186,207
43,756

50,807
301

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

14,245

14,315

15,744

15,757

15,757

3,005
460

2,706
393

2,440
336

3,447
422

2,629
418

2,629
418

12,651

13,291

16,125

14,158

285
20,269

285
20,269

2,914

317

488

1,829

5,130

3,747

3,747

9,913
188

10,191
358

12,252
908

6,890
1,482

13,605
2,342

13,605
2,342

0
2,233

0
2,254

0
1,136

0
656

575

575

3,655
0

3,080
0

9,475
2,756

7,221
0

2,658
701

2,658
701

3,655
0

3,080
0

6,719
0

7,221
0

1,957
7,602

1,957
7,602

7,602

7,602

12,001
3,000

12,917
3,000

9,090
3,000

10,384
3,000

12,923
3,000

12,923
3,000

3,000
0
9,001

3,000
0
9,917

3,000
0
6,090

3,000
0
7,384

3,000

3,000

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

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

477,371
460,162
17,209
10,906
6,784
154
6,630

6,508
114
105
4,008
2,643
600

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

24,909

28,368

26,379

36,215

117,943

79,840

50,184

56,670

56,236

67,289

0
70,215

1,314
72,352

24,909
3,626

28,368
3,327

26,379
3,047

36,215
3,675

35,982
4,390

36,016
4,307

0
75,377

0
37,947

289,106

268,923

263,624

231,755

6,584
124,191

4,563
141,546

14,237

32,264

27,266

4,193

10,572

8,241

47,808
17,299

51,920
23,188

55,132
28,324

63,896
22,975

71,510
22,587

79,386
29,325

120,581
89,181

101,883
59,668

105,951
46,951

101,956
38,735

0
19,522

0
24,594

14,262
0

17,603
0

21,371
0

19,683
0

18,940
0

20,205
0

14,262
0

17,603
0

21,371
0

19,683
0

18,940
0

20,205
0

0
0

0
0

0
0

0
0

299,753
16,332

279,688
16,332

268,632
16,332

248,287
16,332

223,194
16,332

201,181
73,493

16,332
0
283,421

16,332
0
263,356

16,332
0
252,300

16,332
0
231,955

2,091
14,241
206,862
0
206,862

2,091
71,402
127,688
0
127,688

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

134,591
134,591
0
80,398
51,774
28,624
54,193
35,044
15,910
19,134

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

30,524

33,096

34,384

36,387

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

97,974

97,027

96,212

95,451

95,451

95,451

141,118

141,117

141,153

141,153

0
141,153

0
141,153

97,974
1,061

97,027
947

96,212
850

95,451
760

95,451
760

95,451
760

0
0

0
0

35,984

34,093

32,066

32,541

0
32,541

0
32,541

1,092

254

443

128

128

128

10,833
7,238

11,052
6,373

8,739
6,245

8,725
5,887

8,725
5,887

8,725
5,887

0
16,821

0
16,414

0
16,639

0
17,801

0
17,801

0
17,801

57,357
2,278

64,451
2,193

74,157
2,193

83,407
2,193

83,407
2,193

83,407
2,193

55,079
16,000

62,258
16,000

71,964
16,000

81,214
16,000

81,214
16,000

81,214
16,000

0
0

0
0

16,000

16,000

16,000

16,000

0
16,000

0
16,000

60,601
16,335

50,669
16,335

38,121
16,335

28,585
16,335

28,585
16,335

28,585
16,335

16,335
0
44,266

16,335
0
34,334

16,335
0
21,786

16,335
0
12,250

16,335
0
12,250
0
12,250

16,335
0
12,250
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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

9,710

8,893

8,873

8,181

14,741
6,206
8,535
16,910
0
16,910
(2,169)
8,181
0
8,181

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

(4,709)
0
0
0

(9,933)
0
0
0

(11,580)
967
0
0

(9,462)
74
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

312,108

395,273

1,214,181

1,244,052

1,743,351

5,074,621

541,667

661,551

1,503,484

1,586,584

278
2,127,520

3,925
5,137,167

312,108
25,689

395,273
36,719

1,213,848
37,688

1,243,886
53,062

1,737,258
58,379

5,055,037
77,262

333

166

473,644

631,777

562,857

529,464

5,815
1,060,297

15,659
1,134,393

5,796

47,199

18,860

61,660

12,231

31,797

305,460
51,303

366,926
83,698

344,924
63,710

172,381
92,626

779,263
128,827

832,643
96,457

0
111,085

0
133,954

0
135,363

0
202,797

0
139,976

0
173,496

502,811
8,650

680,062
9,727

691,422
11,155

623,933
4,079

765,323

887,472

494,161
37,926

670,335
28,231

680,267
17,110

619,854
13,031

765,323
324,741

887,472
416,477

416,477

37,926

28,231

17,110

13,031

0
324,741

245,015
122,003

318,757
140,303

1,068,506
182,394

1,136,552
218,873

1,713,584
341,442

4,905,065
554,844

122,003
0
123,012

140,303
0
178,454

182,394
0
886,112

218,873
0
917,679

341,442
0
409,517

554,844
0
328,997

409,517

328,997

962,625

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

1,285,301
1,252,128
33,173
976,326
601,487
374,839
308,975
60,658
4,062
56,596

72,614
17,489
142
221,930
78,804

73,154
38,830
20,714
211,153
82,085
0
138,711
238,921

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,665,288

1,841,911

2,742,437

4,182,713

6,011,101

10,048,930

2,445,798

2,785,087

3,832,413

5,282,865

1,946,855
5,315,906

6,041,888
5,389,969

1,657,634
670,486

1,837,046
173,817

2,736,859
190,195

4,172,307
221,569

3,987,224
227,824

3,849,399
227,615

7,654

4,865

5,578

10,406

17,959

11,801

3,274,591

3,405,379

5,857,903

6,443,498

59,063
5,167,778

145,842
8,709,238

2,242

428,961

3,923

28,106

1,235,455

21,568

2,583,831
513,096

2,025,921
597,975

3,309,927
914,470

4,591,568
1,401,333

2,228,967
1,083,990

6,114,406
1,579,112

0
175,422

0
352,522

1,359,018
270,565

0
422,491

0
619,366

0
994,152

2,891,109
2,484,154

2,972,692
2,442,728

5,195,903
4,428,150

5,695,607
4,389,655

4,838,067

8,708,712

406,955
331,250

529,964
275,000

767,753
1,062,500

1,305,952
1,141,665

4,838,067
2,301,952

8,708,712
5,358,990

5,358,990

331,250

275,000

1,062,500

1,141,665

0
2,301,952

1,717,520
427,892

1,999,598
427,892

2,341,937
569,096

3,788,939
832,587

4,038,860
999,105

4,690,466
999,105

427,892
0
1,289,628

427,892
0
1,571,706

569,096
0
1,772,841

832,587
0
2,956,352

999,105
0
1,661,200

999,105
0
2,324,496

1,661,200

2,324,496

1,378,555

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

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

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)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

282,513

337,871

413,264

619,724

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

75,567

89,825

152,302

216,819

257,835

325,188

305,694

328,551

408,862

494,810

1,212
541,395

13,812
616,450

75,567
14,600

89,825
14,355

152,302
18,709

216,819
25,114

243,000
28,578

292,199
31,890

4,349
2,077

5,626
1,866

770,147

740,119

929,651

1,001,191

7,197
1,336,274

11,685
1,483,920

119,624

136,066

267,011

75,374

232,122

163,301

200,335
322,262

267,057
214,193

244,881
250,061

348,155
382,279

370,189
526,560

462,601
632,844

2,928
124,998

2,805
119,998

0
167,698

2,289
193,094

0
207,403

0
225,174

448,208
103,218

362,480
47

491,809
47,795

541,178
16,422

768,815

918,665

344,990
0

362,433
0

444,014
0

524,756
0

768,815
52,273

918,665
63,843

63,843

0
52,273

397,506
120,000

467,464
120,000

590,144
120,000

676,832
120,000

773,021
132,000

826,600
132,000

120,000
0
277,506

120,000
0
347,464

120,000
0
470,144

120,000
0
556,832

132,000
0
641,021

132,000
0
694,600

641,021

694,600

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

2,024,247
1,815,201
209,046
1,522,737
929,938
592,799
501,510
319,004
183,402
135,602

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

210,022

258,786

271,115

318,339

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

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

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

37,873

37,873

37,873

37,872

40,223

3,977
9

3,958
19

3,939
19

3,921
18

3,903
18

6,072
182

5,150

1,135

5,767

31,396

956
48,822

3,956
115,554

10,028

11

136

126

3,147

3,859
0

0
0

4,404
0

25,454
0

0
1,280

0
999

0
1,237

0
2,795

0
48,822

0
115,554

49,881
3,600

46,517
3,431

41,187
0

61,037
0

75,820

111,398

46,281
1,931

43,086
0

41,187
0

61,037
0

75,820
0

111,398
0

1,931

0
0

(42,685)
12,018

(41,424)
12,018

(31,481)
12,018

(25,720)
12,018

(22,139)
12,018

14,184
12,018

12,018
0
(54,703)

12,018
0
(53,442)

12,018
0
(43,499)

12,018
0
(37,738)

12,018
0
(34,157)

12,018
0
2,166

(34,157)

2,166

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

115,903
97,296
18,607
104,729
64,701
40,028
11,174
4,098
210
3,888

244,828
95,581
149,247
177,430
130,627
46,803
67,398
24,409
15,002
9,407

4,175
119

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

20,230

17,698

17,257

16,868

17,703

17,395

30,585

27,911

27,911

27,911

0
15,396

0
15,396

20,230
737

17,698
499

17,257
440

16,868
389

4,005
347

3,697
308

0
0

0
0

72,900

55,393

50,680

50,037

13,698
30,919

13,698
24,170

25,446

18,663

17,896

20,945

3,649

1,742

35,664
7,749

30,687
554

26,498
1,314

24,607
1,544

19,467
301

17,144
0

0
4,041

0
5,489

0
4,972

0
2,941

0
7,502

0
5,284

30,808
11,810

24,199
14,895

26,076
14,495

30,919
19,720

15,719
8,300

17,381
8,300

18,998
0

9,304
0

11,581
0

11,199
0

7,419
1,140

9,081
1,442

0
0

0
0

1,140
0

1,442
0

62,322
60,000

48,892
60,000

41,861
60,000

35,986
60,000

31,763
60,000

22,741
60,000

60,000
0
2,322

60,000
0
(11,108)

60,000
0
(18,139)

60,000
0
(24,014)

60,000
0
(28,237)
0
(28,237)

60,000
0
(37,259)
0
(37,259)

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

10,868

5,948

5,418

4,939

24,937
(666)
25,603
28,339
16,379
11,960
(3,402)
11,240
2,419
8,821

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)

(7,108)
403
0
0

(994)
253
0
0

(6,736)
296
0
0

(5,727)
148
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,437,725

1,378,450

1,249,365

840,752

906,392

852,564

1,616,050

1,657,805

1,662,052

1,268,211

0
1,183,148

0
1,166,904

1,428,738
12,041

1,371,859
98,634

1,245,171
131,302

840,752
98,245

796,741
417

710,062
334

8,987

6,591

4,194

417
0

334
0

248,026

188,609

142,683

292,842

109,234
95,002

142,168
90,092

1,705

6,204

1,309

62,804

3,918

177

80,872
0

50,186
78,587

40,362
50,197

35,105
42,413

15,252
45,256

29,497
28,450

0
165,449

0
53,632

0
50,815

0
152,520

0
30,576

0
31,968

419,340
310,071

856,368
344,071

514,598
112,089

630,901
185,326

505,349
0

473,055
0

109,269
707,666

512,297
360,237

402,509
642,384

445,575
434,439

505,349
537,430

473,055
538,671

308,182

183,093

0
0

0
0

707,666

360,237

642,384

434,439

8,527
220,721

9,083
346,495

558,745
388,860

350,454
388,860

235,066
388,860

68,254
388,860

(41,385)
388,860

(69,070)
388,860

388,860
0
169,885

388,860
0
(38,406)

388,860
0
(153,794)

388,860
0
(320,606)

388,860
0
(430,245)
79,930
(510,175)

388,860
0
(457,930)
79,930
(537,860)

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

23,130

23,536

28,071

28,997

133,068
133,068
0
190,446
190,446
0
(57,378)
22,711
4,856
17,855

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

7,809
1,887
0
0

(89,004)
2,430
0
0

(202,007)
2,066
0
0

(230,536)
1,689
0
0

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

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
745,713
147,415
598,298
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
745,713
147,415
598,298
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
31,370
0
31,370
0
12,685
0
470
6,714
0
0
35,645

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

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
31,370
0
31,370
0
12,685
0
470
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
(6,244)
147,415

2,578,350
0
(6,244)
147,415

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

0.48
0.87
24.59
0.44
1.06
96.94
1.57
0.01
0.04
0.02

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

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

0.03
0.02
-0.20
41.80

0.03
0.02
-0.20
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

152,495

155,950

158,054

159,327

159,259

53,112
5,586

51,447
5,887

50,351
5,727

48,343
4,112

45,649
113,678

42,026
117,233

415,602

417,960

401,215

467,618

1,696
407,838

1,619
316,534

43,645

7,453

8,742

10,049

1,635

2,515

210

351,832
17,230

339,065
40,714

337,960
31,487

396,358
40,537

344,982
26,426

258,969
42,581

0
39,087

0
29,439

0
21,719

0
29,088

0
33,915

0
14,774

397,761
216,368

400,498
261,486

379,677
268,284

405,902
266,246

367,023

400,056

181,393
2,016

139,012
480

111,393
1,310

139,656
37,465

367,023
85,177

400,056
73,626

73,626

2,016

480

1,310

37,465

0
85,177

68,937
34,000

68,429
34,000

70,579
34,000

72,594
34,000

2,982
34,000

(113,503)
34,000

34,000
0
34,937

34,000
0
34,429

34,000
0
36,579

34,000
0
38,594

34,000
0
(31,018)

34,000
0
(147,503)

(31,018)

(147,503)

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

377,094
367,308
9,786
375,945
242,788
133,157
1,149
31,864
20,981
10,883

180,114
150,178
29,936
228,453
121,162
107,291
(48,339)
27,760
16,625
11,135

68,679
34,975
30,522
(65,581)
4,029

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,771,268

1,763,133

1,765,647

1,819,125

4,913,690

5,201,551

2,058,393

2,059,019

2,072,913

2,137,195

2,559
4,888,136

5,684
4,937,938

1,771,268
11,887

1,763,133
11,021

1,765,647
12,098

1,819,125
13,077

4,592,772
15,189

4,879,205
30,073

770,350

710,086

866,464

902,982

318,359
1,104,236

316,662
966,458

45,776

32,916

104,921

24,482

28,250

83,676

362,652
0

214,924
212,784

211,706
261,185

268,784
366,921

445,460
347,364

307,565
298,301

0
361,922

60,939
188,523

51,500
237,152

31,500
211,295

0
283,162

0
276,916

618,937
453,797

441,319
255,678

219,601
41,103

237,692
27,461

366,390

238,057

165,140
1,792,656

185,641
1,792,381

178,498
1,941,110

210,231
1,940,555

366,390
1,903,879

238,057
1,944,079

1,792,656

1,792,381

1,941,110

1,940,555

0
1,903,879

1,944,079

130,025
56,902

239,519
56,902

471,400
56,902

543,860
56,902

3,747,657
56,902

3,985,873
56,902

56,902
0
73,123

56,902
0
182,617

56,902
0
414,498

56,902
0
486,958

56,902
0
(1,046,203)

(1,046,203)

(984,063)

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

264,133
170,971

217,442
92,595

223,163
76,248

230,192
72,247

56,902
0
(984,063)

4,736,958

4,913,034

1,361,633
1,361,633

1,677,379
1,677,379

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

170,971

92,595

76,248

72,247

1,035,306
981,724
53,582
326,327
86,413
14,168
72,245

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,798,190

4,529,366

5,154,326

5,599,758

5,984,333

5,867,528

5,985,834

7,108,415

8,190,852

9,100,682

469,070
9,455,353

201,773
10,220,473

3,798,190
426,887

4,529,366
482,186

5,154,326
537,851

5,599,758
594,843

5,483,038
656,754

5,621,915
744,844

4,170,263

4,205,034

4,671,906

4,795,283

32,225
6,242,528

43,840
6,510,899

57,605

62,883

166,666

69,172

47,874

51,945

3,780,931
2,894

3,790,853
2,406

3,998,181
2,386

4,059,063
2,666

5,765,367
1,684

6,002,823
1,597

5,000
323,833

5,000
343,892

5,000
499,673

5,000
659,382

0
427,603

0
454,534

4,329,039
400,662

4,595,213
1,293,141

5,803,375
1,038,550

6,786,710
572,397

6,856,780

7,638,759

3,928,377
0

3,302,072
0

4,764,825
0

6,214,313
0

6,856,780
1,109,847

7,638,759
1,137,581

1,137,581

0
1,109,847

3,639,414
2,554,938

4,139,187
2,554,938

4,022,857
2,554,938

3,608,331
2,554,938

4,260,234
2,554,938

3,602,087
2,554,938

2,554,938
0
1,084,476

2,554,938
0
1,584,249

2,554,938
0
1,467,919

2,554,938
0
1,053,393

2,554,938
0
1,705,296

2,554,938
0
1,047,149

1,705,296

1,047,149

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

21,666,525
21,666,525

20,952,629
20,952,629

4,529,604
2,436,606

5,533,520
2,689,875

6,509,957
2,848,699

7,276,759
3,449,869

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

14,747,717
10,525,185
4,222,532
6,204,912
4,720,766
3,279,390
1,441,376

2,042,108
(59,024)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,139,086

2,469,399

2,805,140

3,322,278

3,889,196

3,899,779

3,511,640

4,257,470

4,989,619

5,669,077

679,663
6,202,477

413,365
6,897,418

2,014,013
461,431

2,406,862
376,869

2,805,140
397,640

3,322,278
398,311

3,166,076
483,052

3,434,314
551,079

125,073

62,537

3,553,775

3,511,604

3,788,069

6,117,506

43,457
6,703,558

52,100
8,907,484

1,401,661

607,281

775,758

46,718

109,559

15,104

1,104,197
769,861

2,009,053
100,647

2,463,179
85,099

5,327,107
36,181

5,880,236
65,847

7,706,696
164,240

0
278,056

400,115
394,508

0
464,033

1
707,499

0
647,916

0
1,021,444

1,488,341
0

1,024,722
0

1,026,216
0

3,445,823
770,668

3,381,825

5,170,442

1,488,341
0

1,024,722
0

1,026,216
0

2,675,155
0

3,381,825
391,000

5,170,442
472,000

472,000

0
391,000

4,204,520
513,168

4,956,281
615,803

5,566,993
615,803

5,993,961
615,803

6,819,929
615,803

7,164,821
615,803

513,168
0
3,691,352

615,803
0
4,340,478

615,803
0
4,951,190

615,803
0
5,378,158

615,803
0
6,204,126

615,803
0
6,549,018

6,204,126

6,549,018

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

13,400,669
13,400,669

13,302,502
13,302,502

4,080,287
1,554,912

4,176,547
1,854,028

4,490,475
1,910,073

4,316,467
2,601,867

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

8,956,591
5,549,885
3,406,706
4,345,911
3,425,620
2,540,291
885,329

1,109,809
89,336
71,114
1,500,133
541,749

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

505,414

692,993

829,815

887,382

1,034,220

1,439,494

1,042,769

1,284,385

1,477,659

1,611,369

103,005
1,666,076

104,865
2,192,751

505,414
41,547

692,993
59,386

829,815
81,587

887,382
96,295

920,720
102,644

1,320,304
130,244

1,822,067

1,784,671

1,620,830

2,454,492

10,495
2,617,148

14,325
3,103,365

4,757

5,866

7,485

7,014

208,445

247,951

778,765
785,172

836,659
718,959

698,556
652,980

1,182,566
194,590

1,253,241
793,032

1,358,128
897,675

7,200
246,173

0
223,187

0
261,809

0
1,070,322

0
362,430

0
599,611

1,497,883
894,316

1,445,040
841,377

1,319,419
606,365

1,989,626
925,853

1,797,360

2,375,987

603,567
265,361

603,663
402,878

713,054
376,086

1,063,773
310,558

1,797,360
331,924

2,375,987
467,046

142,073

214,263

265,361

402,878

376,086

310,558

0
189,851

252,783

564,237
120,288

629,746
120,288

755,140
120,288

1,041,690
120,288

1,522,084
120,288

1,699,826
120,288

120,288
0
443,949

120,288
0
509,458

120,288
0
634,852

120,288
0
921,402

120,288
0
1,401,796

120,288
0
1,579,538

1,401,796

1,579,538

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

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

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

286,050

288,762

335,730

406,689

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

103,514

114,578

125,251

154,782

207,355

275,584

205,338

228,962

252,084

269,002

46,956
160,181

28,385
238,272

103,514
12,223

114,578
13,519

125,251
15,131

154,782
14,099

16,152

17,974

784

72,889

91,715

165,650

145,335

160,399
150,879

246,415
150,381

325

1,370

799

122

372

469

57,746
1,386

73,461
1,738

107,891
35,111

99,313
8,120

121,530
5,471

119,921
4,887

0
13,432

0
15,146

0
21,849

0
37,780

0
23,506

0
25,104

57,456
18,160

75,103
16,502

162,294
75,358

170,239
72,039

148,218

146,301

39,296
0

58,601
0

86,936
0

98,200
0

148,218
78,320

146,301
125,833

125,833

0
78,320

118,947
30,000

131,190
30,000

128,607
30,000

129,878
30,000

131,696
30,000

153,831
39,000

30,000
0
88,947

30,000
0
101,190

30,000
0
98,607

30,000
0
99,878

30,000
0
101,696

39,000

101,696

114,831

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

489,090
486,557
2,533
342,278
271,610
70,668
146,812
125,260
109,631
15,629

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

114,831

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

91,821

107,208

125,033

125,391

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

944,978

876,761

843,555

819,059

852,923

1,292,695

1,337,540

1,298,245

17,540
1,290,654

59,256
1,321,778

944,978
57,457

876,761
49,406

843,555
44,749

793,962
42,869

786,209
42,042

1,660,388

1,350,967

2,134,798

7,557
2,568,425

7,458
1,793,477

190,732

363,382

258,849

82,973

35,604

1,079,358
394,176

159,151
702,013

1,031,817
306,647

1,755,818
410,320

1,035,091
308,974

0
(3,878)

0
126,421

0
537,485

0
319,314

0
413,808

1,160,512
1,047,258

605,159
474,326

1,304,416
1,115,541

1,956,180

1,244,752

113,254
0

130,833
0

188,875
0

1,956,180
133,976

1,244,752
144,689

144,689

0
133,976

1,444,854
713,819

1,622,569
785,201

1,673,937
785,201

1,297,327
785,201

1,256,959
785,201

713,819
0
731,035

785,201
0
837,368

785,201
0
888,736

785,201
0
512,126

785,201
0
471,758

512,126

471,758

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

2,639,940
2,625,728
14,212
2,412,527
2,333,731
78,796
227,413
117,290
17,363
99,927

3,247,871
3,244,075
3,796
2,995,235
2,547,336
447,899
252,636
107,362
21,073
86,289

84,334
139,503
128,497
(118,165)
(1,659)
78,520
0
(229,629)

97,317
131,269
123,023
66,611
(28,459)
58,890
0
677,770

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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)

1,431,303
0

1,401,648
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)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

12,405

11,925

11,485

11,087

11,087

11,087

32,455

32,461

32,461

32,461

0
32,461

0
32,461

12,405
536

11,925
486

11,485
440

11,087
398

11,087
398

11,087
398

0
0

0
0

10,786

9,799

16,030

18,383

0
18,383

0
18,383

928

101

303

1,739

1,739

1,739

7,103
70

6,781
56

11,457
88

11,623
2,129

11,623
2,129

11,623
2,129

0
2,685

0
2,861

0
4,182

0
2,892

0
2,892

0
2,892

49,260
0

60,678
0

75,343
0

79,910
7,000

79,910
7,000

79,910
7,000

49,260
0

60,678
0

75,343
0

72,910
0

72,910
0

72,910
0

0
0

0
0

0
0

0
0

(26,069)
3,000

(38,954)
3,000

(47,828)
3,000

(50,440)
3,000

(50,440)
3,000

(50,440)
3,000

3,000
0
(29,069)

3,000
0
(41,954)

3,000
0
(50,828)

3,000
0
(53,440)

3,000
0
(53,440)
0
(53,440)

3,000
0
(53,440)
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

30,366
30,366
0
31,089
0
31,089
(723)
989
0
989

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

1,295

1,098

1,189

989

(5,276)
204
0
0

(5,222)
139
0
0

(8,744)
129
0
0

(2,481)
131
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

156,020

272,300

297,619

506,381

6,043,884

5,594,431

466,763

789,817

868,915

1,121,898

17,033
5,945,044

5,729
6,067,090

156,020
32,095

272,300
55,538

297,619
67,621

506,381
62,832

4,705,476
354,688

4,453,068
406,840

6,912
797,102

3,944
942,948

1,496,073

2,941,183

3,403,463

5,128,960

517,361
4,305,646

188,742
5,703,567

140,263

180,446

865,478

76,323

598,641

819,901

837,116
383,658

1,609,536
613,639

1,465,851
507,898

2,012,300
648,702

2,692,050
403,077

3,021,547
951,945

35,734
99,302

294,439
243,123

368,988
195,248

2,019,658
371,977

25,338
586,540

26,255
883,919

436,502
151,282

767,316
222,141

654,452
190,973

1,518,292
771,312

2,705,623
895,626

3,847,600
1,196,126

285,220
9,609

545,175
14,340

463,479
13,515

746,980
373,889

1,809,997
958,544

2,651,474
1,246,656

958,544

1,246,656

0
0

0
0

9,609

14,340

13,515

373,889

0
0

0
0

1,205,982
69,566

2,431,827
69,566

3,033,115
117,114

3,743,160
152,248

6,685,363
213,147

6,203,742
255,777

69,566
0
1,136,416

69,566
0
2,362,261

117,114
0
2,916,001

152,248
0
3,590,912

213,147
0
6,472,216
1,699,465
4,772,751

255,777
0
5,947,965
101,678
5,846,287

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

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

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

150,003

292,522

345,612

636,266

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

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

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

2,381,137

766,809

868,314

1,087,772

1,433,429

1,879,408

136,090
2,090,792

386,355
28,294

475,402
27,225

871,003
40,834

954,637
57,719

1,373,630
50,438

1,532,651
61,604

754,810

565,283

1,401,848

1,556,843

1,341,716

1,780,788

372,822
1,053,598

147,113
1,394,141

205,538

422,593

133,281

119,376

80,224

83,095

147,277
144,846

253,276
22,300

302,397
93,318

548,998
148,333

251,451
295,019

271,940
319,421

561,825
342,362

642,902
215,772

538,531
274,189

236,036
728,045

124,590
302,314

434,663
285,022

534,847
325,351

772,041
544,272

782,678
544,972

1,383,306
1,128,971

1,583,471

1,717,163

209,496
784

227,769
1,595

237,706
507

254,335
0

1,583,471
77,547

1,717,163
59,483

59,483

784

1,595

507

0
77,547

1,252,572
41,822

1,258,609
41,822

1,429,534
41,822

1,352,119
41,822

1,893,842
41,822

1,998,632
418,222

41,822
0
1,210,750

41,822
0
1,216,787

41,822
0
1,387,712

41,822
0
1,310,297

41,822
0
1,081,687

418,222
0
816,052

1,081,687

816,052

770,333

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

3,691,492
2,805,460
886,032
2,986,473
2,140,875
845,598
705,019
414,157
279,607
134,550

669,456
168,827
161,580
(10,493)
21,950

560,865
210,795
200,929
281,536
1,685
209,111
3,763,998
(34,640)
2,058,115
0
70,740
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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,879,300

1,703,966

1,608,744

2,111,285

2,096,745

1,873,582

2,876,601

2,786,027

3,072,196

3,835,189

6,021
4,114,167

9,429
4,243,320

1,879,300
225,455

1,703,966
228,582

1,608,744
244,345

2,111,285
265,769

2,069,838
328,074

1,844,554
359,590

19,708
0

17,836
0

878,661

1,108,323

1,732,911

2,201,911

1,178
2,420,082

1,763
2,526,163

23,519

208,867

325,295

297,117

229,766

350,210

313,917
391,637

276,990
465,422

640,772
534,197

950,426
681,822

1,201,391
887,659

1,289,457
767,252

0
149,588

0
157,044

50,389
182,258

0
272,546

0
101,266

0
119,244

796,779
308,335

974,225
216,000

1,549,047
216,000

2,176,991
865,878

2,035,195
606,312

2,001,096
295,873

488,444
972,000

758,225
756,000

1,333,047
540,000

1,311,113
824,000

1,428,883
885,352

1,705,223
607,524

608,000

375,000

0
0

0
0

972,000

756,000

540,000

824,000

0
277,352

0
232,524

989,182
300,000

1,082,064
300,000

1,252,608
300,000

1,312,205
300,000

1,596,280
300,000

1,791,125
300,000

300,000
0
689,182

300,000
0
782,064

300,000
0
952,608

300,000
0
1,012,205

300,000
0
1,296,280
0
1,296,280

300,000
0
1,491,125
0
1,491,125

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

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

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

124,250

145,907

185,894

207,200

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

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

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

3,676

15,632

12,525

12,525

12,525

0
0

1,917
215

11,212
2,752

6,927
1,827

6,927
1,298

5,629
1,037

292

366

613

340

120

1,263

60,651

113,299

147,851

(1,298)
161,935

(757)
194,592

1,246

11,914

7,208

11,396

20,200

31,757

0
0

22,836
10,407

59,630
147,775

72,375
23,005

76,504
26,093

84,101
45,252

0
17

0
15,494

0
(101,314)

0
41,075

0
39,138

0
33,482

215
0

57,239
260

116,215
1,032

148,532
1,239

106,684

138,442

215
0

56,979
0

115,183
3,564

147,293
1,786

106,684
73,585

138,442
72,098

72,098

4,992

3,564

1,786

0
73,585

1,048
12,000

5,621
12,000

5,098
12,000

5,073
12,000

(12,365)
12,000

(10,956)
12,000

12,000
0
(10,952)

12,000
0
(6,379)

12,000
0
(6,902)

12,000
0
(6,927)

12,000
0
(24,365)

12,000
0
(22,956)

(24,365)

(22,956)

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

580,269
580,269

711,461
711,461

0
151

14,216
9,209

43,681
74,040

46,381
74,292

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

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

624,298
631,896
(7,598)
87,163
64,635
52,077
12,558

25,933
1,528

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

175,646

211,221

278,189

274,961

293,088

296,943

252,172

309,437

330,144

12,342
332,888

8,914
356,787

175,646
0

211,221
19,097

276,641
22,514

273,967
25,738

255,653
25,545

262,987
25,601

1,548

994

1,656

1,423

242,052

270,109

280,817

369,392

23,437
433,764

23,619
465,717

23,731

47,737

59,067

34,161

124,573

103,246

126,711
6,172

121,857
7,893

134,432
4,726

258,767
10,633

204,835
25,449

282,281
21,280

46,575
38,863

49,201
43,421

27,930
54,662

0
65,831

25,000
53,907

5,000
53,910

151,069
18,613

235,441
19,729

251,767
0

324,650
0

273,440

286,115

132,456
19,952

215,712
1,497

251,767
0

324,650
0

273,440
86,865

286,115
90,164

19,952

1,497

86,865

90,164

246,677
40,000

244,392
40,000

307,239
40,000

319,703
44,000

366,547
48,400

386,381
53,240

40,000
0
206,677

40,000
0
204,392

40,000
0
267,239

44,000
0
275,703

48,400

53,240

1,027,704
1,027,704
0
856,716

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

170,988
114,261

274,047
181,782

265,554
208,166

285,744
249,557

239,263

249,834

78,884

83,307

1,350,144
1,350,144

1,289,891
1,289,891

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

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

951,249
782,496
168,753
338,642
302,689
243,349
59,340

127,727
6,682
6,002
80,326
29,082

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

89,470,765

137,960,505

169,009,755

186,060,803

248,562,360

264,394,077

121,277,520

173,297,285

209,534,009

244,485,903

37,098,695
266,061,246

28,419,765
278,446,702

88,816,132
3,282,229

137,543,567
3,779,998

168,967,475
7,604,666

186,031,813
7,974,768

198,994,163
9,091,997

220,899,512
10,077,362

654,633

416,938

42,280

28,990

1,164,285
8,220,202

1,205,621
10,408,650

29,652,967

47,600,651

69,609,507

90,926,915

3,085,015
59,429,939

3,460,529
61,352,744

4,329,626

6,164,815

5,546,088

5,867,688

3,860,859

2,164,194

2,660,169
1,798,180

4,085,836
2,420,473

5,770,903
3,043,208

7,980,484
5,184,918

11,205,337
5,289,276

9,243,999
5,204,157

9,038,152
11,826,840

19,559,631
15,369,896

32,476,821
22,772,487

28,510,519
43,383,306

8,790,729
30,283,738

12,409,183
32,331,211

34,270,017
10,191,689

47,924,452
17,227,615

65,293,742
23,143,834

82,821,989
39,160,520

87,869,525
54,166,390

98,721,609
57,285,900

24,078,328
31,958,619

30,696,837
58,209,190

42,149,908
65,460,790

43,661,469
67,725,849

33,703,135
95,029,267

41,435,709
93,741,138

53,117,385

56,699,509

5,527,052

4,904,612

5,260,825

12,796,715

4,419,344
14,949,680

3,530,598
14,764,800

26,431,567

53,304,578

60,199,965

54,929,134

576,102
21,966,756

664,469
18,081,762

52,895,096
31,632,506

79,427,514
37,337,798

107,864,730
44,173,506

126,439,880
58,225,147

125,093,507
59,388,857

133,284,073
61,194,985

30,604,040
1,028,466
21,262,590

36,309,332
1,028,466
42,089,716

43,145,040
1,028,466
63,691,224

57,196,681
1,028,466
68,214,733

58,360,391
1,028,466
46,176,451
28,317,005
17,859,446

60,166,519
1,028,466
47,979,441
33,497,798
14,481,644

19,528,199

24,109,647

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

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

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

3,006,909

3,760,503

4,561,089

9,675,382

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

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

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

Sales

Gross Profit

5.7
3.46

2.45

-6

Net Profit Before Tax

2009
6

2010

-4.4

Return on
Capital
Emloyed -2.54

2010
4.94

1.46

Return on Return on
Assets
Equity
-1.79

-200%

Key Performance Indicators

2009

-4

-150%

-179.2%

-2

-50%
-100%

Percentage

Percentage

Growth
0%

-44.8%

Profitability/Efficiency Ratios
6

2010

-10.2%

1.44

0.94

0.68 0.62

0
-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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

86,017,307

132,804,755

163,028,547

179,119,158

238,138,598

253,198,576

115,295,057

165,653,454

199,971,801

233,505,335

36,789,721
252,114,730

27,791,952
263,442,569

85,322,522
2,947,622

132,365,472
3,287,786

162,986,267
7,054,871

179,090,168
7,368,612

189,017,987
8,011,304

211,020,337
8,525,322

694,785

439,283

42,280

28,990

1,164,285
8,220,202

1,205,621
10,408,650

26,658,809

43,579,592

64,948,539

85,454,020

2,946,403
53,237,536

2,772,016
54,720,582

4,227,515

6,003,489

5,304,362

5,629,816

3,593,426

1,888,235

1,569,618
972,219

2,701,960
1,367,259

4,221,748
2,010,764

6,259,443
4,015,746

8,838,242
4,304,857

7,069,308
3,268,736

8,987,125
10,902,332

19,558,705
13,948,179

32,469,404
20,942,261

28,503,201
41,045,814

8,790,729
27,710,282

12,409,183
30,085,120

31,207,472
8,921,426

43,401,030
15,522,701

60,025,504
21,061,968

77,604,012
37,196,671

82,656,967
54,166,390

93,097,685
57,285,900

22,286,046
31,027,247

27,878,329
57,371,942

38,963,536
64,291,977

40,407,341
65,372,228

28,490,577
89,326,711

35,811,785
88,089,315

53,117,385

56,699,509

5,527,052

4,904,612

5,260,825

12,796,715

4,419,344
14,949,680

3,530,598
14,764,800

25,500,195

52,467,330

59,031,152

52,575,513

576,102
16,264,200

664,469
12,429,939

50,441,397
30,546,029

75,611,375
35,785,663

103,659,605
42,396,793

121,596,938
55,909,628

119,392,456
56,689,291

126,732,157
58,277,252

29,517,563
1,028,466
19,895,368

34,757,197
1,028,466
39,825,712

41,368,327
1,028,466
61,262,812

54,881,162
1,028,466
65,687,310

55,660,825
1,028,466
43,304,704
28,317,005
14,987,699

57,248,786
1,028,466
44,748,711
33,497,798
11,250,914

19,398,461

23,706,194

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

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

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

2,369,695

3,008,800

3,654,536

8,627,277

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

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

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%

1.4 1.4

0.9

0.6 0.6

-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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,505,768

3,198,261

3,867,044

4,236,771

4,568,379

4,607,827

2,217,064

3,970,271

4,705,282

5,143,264

815,262
4,551,112

0
5,439,563

1,505,768
61,012

3,197,844
61,131

3,866,835
69,490

4,236,771
68,046

3,539,718
105,384

4,352,502
77,307

417

209

0
0

0
0

376,796

620,954

575,922

1,037,104

213,399
1,355,532

255,325
694,771

14,089

118,057

2,366

9,366

12,421

3,547

72,898
16,604

136,937
24,745

144,846
948

243,339
297,892

427,276
33,137

116,666
63,923

0
273,205

0
341,215

0
427,762

0
486,507

0
882,698

0
510,635

907,866
97,156

769,280
136,287

1,331,257
596,697

1,165,966
209,212

1,454,512
495,422

1,619,955
988,090

810,710
590,833

632,993
1,889,731

734,560
1,730,614

956,754
2,512,286

959,090
2,751,963

631,865
2,685,822

2,506,350

2,250,000

234,076
0

417,327
0

590,833

1,889,731

1,730,614

2,512,286

11,537
0

18,495
0

383,865
380,927

1,160,204
1,142,781

1,381,095
1,142,781

1,595,623
1,828,450

1,717,436
1,828,450

996,821
1,828,450

380,927
0
2,938

1,142,781
0
17,423

1,142,781
0
238,314

1,828,450
0
(232,827)

1,828,450
0
(111,014)
0
(111,014)

1,828,450
0
(831,629)
0
(831,629)

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

2,982,686
930,815
2,051,871
2,282,298
405,670
1,876,628
700,388
421,211
390,619
30,592

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

25,165

29,881

28,708

156,425

(72,612)
2,418
0
0

(75,025)
4,598
0
0

(168,768)
1,061
0
0

(128,930)
7,232
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,547,026

4,236,094

4,443,222

4,333,363

4,210,452

4,266,346

4,455,473

6,247,760

6,812,468

6,955,871

2,009
7,348,179

209,298
7,462,133

2,547,026
106,844

4,236,094
104,683

4,443,222
367,191

4,333,363
401,189

4,141,525
474,439

3,992,646
270,794

0
4,500

0
4,500

860,161

635,412

1,342,418

1,537,584

62,418
2,762,349

59,902
2,792,563

168,622

94,855

265,776

110,957

871,826

442,109

162,285
3,925

167,171
23,124

276,428
19,897

409,498
49,799

613,934
46,485

366,170
55,366

4,500
520,829

4,500
345,762

208,002
572,315

188,450
778,880

557,265
672,839

1,194,272
734,646

728,422
7,555

944,957
331,618

1,566,987
15,489

1,716,868
200,109

1,135,564
200,000

1,065,190
0

720,867
556,764

613,339
973,319

1,551,498
822,609

1,516,759
622,500

935,564
1,059,370

1,065,190
598,300

422,500

0
0

0
0

556,764

973,319

822,609

622,500

0
636,870

0
598,300

2,122,001
721,629

2,953,230
721,629

3,396,044
721,629

3,531,579
721,629

4,777,867
721,629

5,395,419
865,955

721,629
0
1,400,372

721,629
0
2,231,601

721,629
0
2,674,415

721,629
0
2,809,950

721,629
0
4,056,238
0
4,056,238

865,955
0
4,529,464
0
4,529,464

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

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

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

240,325

254,861

282,526

303,268

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,109,399

10,965,861

14,452,530

16,004,482

31,596,727

32,788,622

6,889,280

12,944,563

16,577,735

18,606,851

7,073,141
30,734,525

84,073
22,178,520

5,109,399
203,750

10,965,861
201,464

14,452,530
1,978,702

16,004,482
431,938

18,142,808
783,917

25,641,887
999,158

1,135,192
5,130,069

1,165,192
5,785,956

3,914,618

7,052,138

8,628,902

9,411,009

115,517
6,048,793

111,514
5,885,686

605,636

419,562

886,328

348,574

462,165

210,645

93,440
0

150,269
33,191

290,831
84,634

729,727
365,121

1,253,453
588,806

1,065,834
315,857

2,426,623
788,919

4,984,929
1,464,187

5,514,776
1,852,333

5,589,233
2,378,354

0
3,744,369

0
4,293,350

2,261,845
1,223,607

3,709,204
1,776,961

4,493,229
756,385

5,794,182
3,511,008

8,730,660
6,779,749

11,711,447
9,103,953

1,038,238
3,148,464

1,932,243
9,458,832

3,736,844
12,607,054

2,283,174
12,764,805

1,950,911
18,507,790

2,607,494
16,747,195

16,179,837

15,521,502

1,750
0

0
0

3,148,464

9,458,832

12,607,054

12,764,805

66,339
2,259,864

85,373
1,140,320

3,613,708
2,128,165

4,849,963
2,340,982

5,981,149
2,575,080

6,856,504
2,832,588

10,407,070
3,257,476

10,215,666
3,257,476

2,128,165
0
1,485,543

2,340,982
0
2,508,981

2,575,080
0
3,406,069

2,832,588
0
4,023,916

3,257,476
0
7,149,594
2,931,654
4,217,940

3,257,476
0
6,958,190
2,700,091
4,258,099

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

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

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

183,124

233,550

141,400

420,746

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,773,455

2,269,848

2,196,964

2,522,040

3,400,079

3,617,936

2,377,872

4,413,645

4,571,505

5,068,514

1,023,062
4,969,810

14,722
6,379,943

1,773,455
143,019

2,269,848
162,700

2,196,964
236,501

2,522,040
176,722

2,235,295
195,917

3,431,219
219,114

5,880
114,157

20,013
122,104

1,429,345

1,342,041

1,336,386

1,860,233

21,685
1,343,431

29,878
1,239,483

750,842

383,509

75,471

65,529

60,689

53,652

88,498
4,362

145,227
0

117,288
2,138

207,491
0

280,588
0

201,186
0

7,694
577,949

174,313
638,992

474,627
666,862

103,969
1,483,244

153
1,002,001

114
984,531

636,653
80,641

848,963
223,672

859,258
307,167

1,843,667
671,874

1,070,994
677,437

1,622,417
1,125,228

556,012
813,672

625,291
650,000

552,091
437,500

1,171,793
380,500

393,557
1,404,112

497,189
989,037

1,087,500

976,400

0
0

0
0

813,672

650,000

437,500

380,500

0
316,612

0
12,637

1,752,475
664,905

2,112,926
831,131

2,236,592
955,801

2,158,106
955,801

2,268,404
955,801

2,245,965
955,801

664,905
0
1,087,570

831,131
0
1,281,795

955,801
0
1,280,791

955,801
0
1,202,305

955,801
0
1,312,603
0
1,312,603

955,801
0
1,290,164
0
1,290,164

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

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

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

163,089

188,037

171,149

173,429

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

10,937,674

19,576,458

24,157,990

25,471,336

30,438,230

31,565,400

15,637,327

24,591,348

29,666,772

32,265,472

1,750,208
33,872,818

465,650
36,184,047

10,937,674
357,083

19,576,458
349,525

24,157,990
494,205

25,471,336
1,363,037

25,551,184
1,414,911

26,446,874
1,439,660

0
2,968,879

0
4,493,293

7,078,831

14,727,918

27,586,341

26,521,598

167,959
13,429,542

159,583
16,927,244

93,836

77,167

116,173

226,372

261,014

262,942

100,994
76,238

226,286
74,165

295,140
144,245

445,856
366,173

1,023,230
656,986

1,636,829
462,367

5,379,768
1,427,995

13,025,976
1,324,324

25,108,264
1,922,519

21,878,273
3,604,924

7,785,979
3,702,333

10,740,986
3,824,120

3,621,532
1,560,294

7,634,822
4,189,772

9,133,558
5,982,129

13,501,626
10,284,628

16,421,691
14,371,037

14,691,352
12,449,670

2,061,238
5,031,210

3,445,050
7,401,354

3,151,429
8,687,588

3,216,998
8,411,051

2,050,654
6,189,955

2,241,682
6,866,634

4,675,992

5,229,507

0
0

0
0

5,031,210

7,401,354

8,687,588

8,411,051

78,622
1,435,341

104,029
1,533,098

9,363,763
1,843,937

19,268,200
1,843,937

33,923,185
2,535,412

30,080,257
2,535,412

21,256,126
3,042,494

26,934,658
3,650,993

1,843,937
0
7,519,826

1,843,937
0
17,424,263

2,535,412
0
31,387,773

2,535,412
0
27,544,845

3,042,494
0
18,213,632
12,618,827
5,594,805

3,650,993
0
23,283,665
17,416,958
5,866,707

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

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

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

231,171

348,155

308,598

1,269,400

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,826,185

2,921,047

3,023,767

4,262,850

4,109,993

4,109,993

3,557,170

3,745,907

3,880,086

4,510,459

10,640
4,471,813

10,640
4,471,813

2,826,185
75,806

2,917,427
85,437

3,021,930
88,497

4,253,045
42,557

4,086,371
24,376

4,086,371
24,376

3,620

1,837

9,805

7,616
2,597

7,616
2,597

412,089

521,303

494,207

366,425

2,769
343,846

2,769
343,846

43,866

13,009

4,915

9,298

2,143

2,143

51,934
25,822

3,515
1,897

63,062
444

56,076
0

44,221
861

44,221
861

53,138
237,329

107,994
394,888

208,963
216,823

3,108
297,943

0
296,621

0
296,621

925,730
70,976

1,050,657
162,820

1,021,465
8,248

1,671,084
33,351

702,252
88,327

702,252
88,327

854,754
1,012,892

887,837
1,137,702

1,013,217
800,022

1,637,733
750,894

613,925
1,665,703

613,925
1,665,703

743,331

743,331

0
0

0
0

1,012,892

1,137,702

800,022

750,894

20,452
901,920

20,452
901,920

1,299,652
438,556

1,253,991
438,556

1,696,487
438,556

2,207,297
982,366

2,085,884
982,366

2,085,884
982,366

438,556
0
861,096

438,556
0
815,435

438,556
0
1,257,931

982,366
0
1,224,931

982,366
0
(332,940)
107,410
(440,350)

982,366
0
(332,940)
107,410
(440,350)

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

1,436,458

1,436,458

30,030
30,030
0
66,737
2,738
63,999
(36,707)
80,736
1,828
78,908

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

122,065

165,863

169,671

162,920

113,849
0
0
0

173,223
8,037
0
0

149,009
4,873
0
0

(222,117)
2,491
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,030,711

1,905,371

2,459,190

2,537,363

2,515,195

2,431,867

3,509,199

3,524,812

4,245,454

4,411,416

190,681
4,271,584

190,681
4,247,662

1,882,327
107,536

1,796,987
101,298

2,459,190
67,307

2,537,363
88,057

2,313,958
84,290

2,230,649
79,855

148,384

108,384

0
0

0
0

256,803

366,718

565,083

564,462

10,556
575,499

10,537
598,906

8,028

84,715

14,007

10,335

3,867

3,789

39,202
2,168

32,179
0

30,411
0

42,166
683

19,224
0

41,860
0

0
207,405

0
249,824

0
520,665

0
511,278

0
552,408

0
553,257

1,447,459
84,207

1,418,555
188,248

1,823,571
368,701

1,754,136
376,471

1,410,442
495,832

1,983,460
502,236

1,363,252
344,270

1,230,307
385,078

1,454,870
723,875

1,377,665
1,020,031

914,610
1,662,770

1,481,224
1,465,947

1,020,000

1,020,000

384,415
0

378,366
0

344,270

385,078

723,875

1,020,031

70,000
188,355

0
67,581

495,785
678,400

468,456
678,400

476,827
678,400

327,658
948,400

17,481
948,400

(418,635)
948,400

678,400
0
(182,615)

678,400
0
(209,944)

678,400
0
(201,573)

948,400
0
(620,742)

948,400
0
(2,150,588)
31,801
(2,182,389)

948,400
0
(2,544,674)
31,801
(2,576,474)

1,219,669

1,177,639

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

75,105

73,134

77,470

92,366

1,146,062
1,144,246
1,816
1,230,945
80,943
1,150,002
(84,883)
107,713
5,970
101,743

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)

(61,759)
5,480
0
0

63,940
7,194
0
0

(438,153)
4,490
0
0

(556,402)
2,891
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,475,863

6,125,013

19,332,935

19,927,245

20,086,723

19,736,593

6,995,157

7,902,995

20,782,686

21,944,959

804,945
21,693,665

804,945
21,647,156

5,472,366
268,610

6,113,812
268,038

19,304,428
463,397

19,927,245
540,033

19,210,188
467,704

18,874,678
289,001

3,497

11,201

28,507

0
0

0
0

1,769,111

2,118,107

2,854,577

1,683,842

71,590
1,510,001

56,970
1,132,873

108,067

76,751

224,537

132,572

122,311

60,616

132,279
87,087

186,703
81,841

302,825
510,335

127,802
715,855

384,169
316,485

120,024
347,983

807,121
634,557

960,307
812,505

9,161
1,807,719

4,656
702,957

2,172
684,864

1,473
602,777

2,116,593
308,376

2,290,356
533,311

6,430,697
1,870,703

7,073,266
1,862,043

5,110,161
2,407,789

5,708,438
2,948,558

1,808,217
2,850,946

1,757,045
3,070,007

4,559,994
6,961,722

5,211,223
6,214,411

2,702,372
8,256,814

2,759,880
7,487,405

1,287,819

646,797

2,850,682

2,629,795

4,410,825

3,850,000

445,222
3,850,000

445,222
3,850,000

264

440,212

2,550,897

2,364,411

0
2,673,773

0
2,545,386

2,277,435
825,000

2,882,757
1,650,000

8,795,093
3,573,750

8,323,410
3,573,750

8,229,749
3,573,750

7,673,623
3,573,750

825,000
0
1,452,435

1,650,000
0
1,232,757

3,573,750
0
5,221,343

3,573,750
0
4,749,660

3,573,750
0
648,287
0
648,287

3,573,750
0
54,349
0
54,349

4,007,712

4,045,524

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

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

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

60,980

111,197

176,178

429,881

115,100
9,457
0
0

479,337
13,395
0
0

164,982
21,648
0
0

(582,322)
22,990
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

4,717,315

4,563,115

4,392,450

7,106,599

19,792,487

24,709,281

6,750,753

6,848,523

6,960,185

9,973,989

14,538,067
7,412,737

18,431,211
8,885,295

4,717,315
256,283

4,563,115
266,532

4,392,450
283,454

7,106,599
302,656

4,239,137
311,749

5,387,829
327,130

0
0

0
0

1,506,473

1,634,993

2,008,238

5,347,894

1,015,283
1,654,014

890,241
2,070,718

603,110

847,590

423,133

3,783,909

175,947

192,217

55,931
107,231

145,090
25,475

183,309
19,558

230,089
26,927

137,451
54,641

96,684
46,981

0
740,201

0
616,838

0
1,382,238

0
1,306,969

0
1,285,975

0
1,734,836

1,206,946
861,871

1,482,580
786,353

1,790,482
375,510

2,845,512
1,378,365

2,628,010
1,090,778

3,984,915
1,937,111

345,075
2,522,005

696,227
1,425,000

1,414,972
875,000

1,467,147
325,000

1,537,232
9,127,802

2,047,804
13,184,399

6,224,227

11,909,030

0
0

400,000
0

2,522,005

1,425,000

875,000

325,000

10,766
2,892,809

14,707
860,662

2,494,837
4,194,422

3,290,528
4,194,422

3,735,206
4,194,422

9,283,981
7,419,887

9,690,689
7,419,887

9,610,685
7,419,887

3,707,430
486,992
(1,699,585)

3,707,430
486,992
(903,894)

3,707,430
486,992
(459,216)

6,932,895
486,992
1,864,094

6,932,895
486,992
2,270,802
1,333,879
936,923

6,932,895
486,992
2,190,798
1,037,138
1,153,660

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

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

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

104,119

192,450

170,045

164,168

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

676,294

1,025,725

1,201,654

1,178,255

1,559,804

2,182,532

2,341,460

2,705,356

2,935,374

2,964,767

137,468
3,134,115

808,228
3,091,168

676,294
72,576

1,025,725
75,711

1,201,654
52,249

1,178,255
56,957

1,339,752
63,284

1,316,405
65,748

0
0

0
0

814,457

943,175

881,249

1,051,270

82,584
1,044,659

57,899
940,146

202,035

250,086

41,731

37,458

19,536

19,734

103,422
23,933

25,360
25,360

78,101
18,897

115,658
71,717

167,862
65,580

108,718
10,892

0
485,067

0
642,369

0
742,520

0
826,437

0
791,681

0
800,802

757,664
263,702

632,570
57,900

653,546
116,379

977,697
438,409

943,977
402,189

1,336,168
634,597

493,962
17,934

574,670
304,349

537,167
489,604

539,288
394,018

541,788
488,326

701,571
822,608

292,074

684,048

0
0

0
0

17,934

304,349

489,604

394,018

0
196,252

0
138,560

715,153
456,000

1,031,981
456,000

939,753
456,000

857,810
456,000

1,172,160
456,000

963,902
501,600

456,000
0
259,153

456,000
0
575,981

456,000
0
483,753

456,000
0
401,810

456,000
0
716,160
0
716,160

501,600
0
462,302
0
462,302

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

3,455,706
2,538,063
917,643
2,542,303
422,364
2,119,939
913,403
334,724
183,452
151,272

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

124,045

160,082

145,321

150,748

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

4,696,595

4,754,733

4,856,004

5,012,587

1,139,956
4,500,182

336,071
4,596,427

4,696,595
76,292

3,614,777
75,402

4,519,933
76,092

0
0

0
0

0
673,708

0
692,300

238,278
228,480
9,798
515,397

659,211
14,612

6,366

944

404,629
11,508

425,982
10,792

423,596
449

0
228,462

0
230,568

0
267,311

1,656,567
117,286

673,113
312,589

745,860
178,532

1,539,281
46,346

360,524
1,264,182

567,328
1,483,472

37,693

185,591

291,116
0

403,326
0

46,346

1,931
933,442

929
893,626

3,652,893
1,760,000

3,491,146
1,760,000

3,318,972
1,760,000

1,760,000
0
1,892,893

1,760,000
0
(22,898)
126,979
(149,877)

1,760,000
0
(161,476)
126,979
(288,455)

1,754,044

1,720,448

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

666,072
654,830
11,242
815,030
47,554
767,476
(148,958)
24,777
7,021
17,756

80,617
80,617
0
239,689
10,288
229,401
(159,072)
14,778
2,982
11,796

5,911
65,715
64,458
(239,450)
0
0
0
95,953

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

(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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,526,167

3,444,239

6,930,982

9,791,842

12,102,784

2,659,849

4,708,083

8,311,930

10,807,390

96,289
11,362,926

136,521
13,878,132

1,451,975
53,855

3,444,239
57,456

6,930,982
117,691

0
108,193

9,633,200
242,022

11,908,348
240,607

74,192

0
0

0
0

895,385

857,855

1,294,675

10,419,551

62,353
1,237,044

57,915
819,327

317,161

156,962

750,932

156,506

67,981

21,140

24,197
0

135,723
0

77,753
0

77,753
52,694

401,668
52,694

109,483
33,762

173,281
380,746

162,487
402,683

942
465,048

653
10,131,945

0
714,701

0
654,942

619,714
81,483

906,926
276,069

3,273,084
382,022

4,118,132
706,352

5,702,745
3,333,475

4,835,260
1,769,583

538,231
186,899

630,857
251,162

2,891,062
2,200,147

3,411,780
3,465,255

2,369,270
3,360,334

3,065,677
4,086,430

225,000

399,840

926,894

3,233,674

1,886,723
399,680

137,889
0

186,899

251,162

1,975,147

3,065,415

10,718
136,319

14,811
700,056

1,614,939
368,764

3,144,006
1,718,764

2,752,426
1,718,764

2,836,164
2,318,764

1,965,807
2,318,764

4,000,421
2,318,764

368,764
0
1,246,175

1,718,764
0
1,425,242

1,718,764
0
1,033,662

2,318,764
0
517,400

2,318,764
0
(1,363,856)
0
(1,363,856)

2,318,764
0
(678,507)
0
(678,507)

1,010,899

2,360,164

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

2,438,570
1,933,058
505,512
2,205,490
387,370
1,818,120
233,080
221,875
94,414
127,461

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

72,106

99,505

65,757

348,150

196,378
7,500
0
0

170,245
3,090
85,938
0

(202,074)
2,538
0
0

(564,146)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

178,288

152,709

833,762

840,707

5,392,722

8,644,909

1,008,889

1,003,695

1,698,664

1,721,165

70,416
6,214,820

227,818
8,628,117

165,951
17,669

152,709
17,229

833,762
16,855

840,707
16,319

5,320,060
14,730

8,414,121
213,996

12,337

0
0

0
0

806,874

811,914

452,938

528,108

2,246
468,497

2,970
851,616

397,272

394,931

8,152

71,298

71,829

81,770

47,773
0

70,604
0

189,277
10,908

172,577
19,883

196,261
9,943

6,005
34,238

130,000
231,829

114,204
232,175

0
244,601

0
264,350

0
190,464

0
729,603

603,062
0

464,877
0

345,589
150,000

428,325
108,125

647,644
184,045

1,555,947
1,177,537

603,062
0

464,877
0

195,589
625,000

320,200
666,875

463,599
4,482,291

378,410
3,858,481

625,000

546,875

382,100
560,000

499,746
560,000

560,000
0
(177,900)

30,000

105,768

952,291
3,500,000

1,127,713
2,625,000

120,000

0
0

0
0

316,111
560,000

273,615
560,000

731,284
290,641

4,082,097
581,282

560,000
0
(60,254)

560,000
0
(243,889)

560,000
0
(286,385)

290,641
0
(4,065,340)
11,966
(4,077,306)

581,282
0
(4,194,256)
11,966
(4,206,222)

4,505,983

7,695,071

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

1,622,216
1,500,379
121,837
1,372,868
217,672
1,155,196
249,348
48,911
25,750
23,161

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

35,227

40,481

198,123

50,563

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,119,880

2,079,393

5,258,260

6,248,720

6,979,219

7,266,211

2,395,233

3,442,970

6,722,667

7,812,738

584,965
8,076,995

861,363
8,334,941

1,119,880
64,233

2,079,393
91,832

5,258,260
104,952

6,248,720
103,949

6,352,853
161,943

6,368,030
255,694

2,690
0

2,588
0

532,007

996,717

606,051

1,375,201

38,711
1,645,675

34,230
1,407,169

289,066

656,886

132,402

36,995

34,371

28,022

22,337
23,799

87,870
21,642

125,148
21,381

174,318
15,341

139,294
17,792

290,433
20,010

0
196,805

6,600
223,719

0
327,120

0
1,148,547

0
1,454,218

0
1,068,704

437,376
136,679

552,313
135,611

821,347
364,554

2,309,319
1,722,564

2,946,392
2,079,132

3,242,473
2,003,265

300,697
117,109

416,702
239,858

456,793
2,703,308

586,755
2,985,473

867,260
3,406,955

1,239,208
3,469,937

2,991,427

3,049,320

0
0

0
0

117,109

239,858

2,703,308

2,985,473

6,216
409,312

6,197
414,420

1,097,402
493,500

2,283,939
925,312

2,339,656
1,017,843

2,329,129
1,170,520

2,271,547
1,287,572

1,960,970
1,287,572

493,500
0
603,902

925,312
0
1,358,627

1,017,843
0
1,321,813

1,170,520
0
1,158,609

1,287,572
0
983,975
(35,921)
1,019,896

1,287,572
0
673,398
(18,721)
692,119

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

3,395,581
2,522,198
873,383
2,591,021
375,463
2,215,558
804,560
267,692
111,491
156,201

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

89,190

125,247

72,681

354,017

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

8,342,416

15,346,720

17,969,367

17,252,017

17,558,751

17,145,507

8,348,375

15,356,630

18,736,451

18,937,394

82,708
18,938,505

137,926
19,101,247

8,342,416
1,678

15,346,720
3,950

17,962,218
736,874

17,247,914
917,135

16,605,289
655,702

16,154,046
622,602

7,149

4,103

2,959
0

2,345
0

472,999

429,955

3,509,323

4,732,186

867,795
2,145,492

851,190
2,358,841

933

23,216

678,425

55,473

71,261

7,268

0
0

26,008
0

498,785
74,359

946,934
33,927

724,361
76,614

624,933
417

0
472,066

0
380,731

0
2,257,754

0
3,695,852

0
1,273,256

0
1,726,223

3,398,632
775,385

2,258,363
135,531

5,242,553
1,324,453

6,539,685
3,743,615

6,865,083
3,630,698

8,927,252
5,815,684

2,623,247
0

2,122,832
7,015,937

3,918,100
5,735,181

2,796,070
4,410,114

3,234,385
3,075,232

3,111,568
1,761,663

3,075,232

1,761,663

0
0

0
0

7,015,937

5,735,181

4,410,114

0
0

0
0

5,416,783
5,624,564

6,502,375
6,768,379

10,500,956
11,345,149

11,034,404
13,126,445

9,763,928
13,126,445

8,815,433
13,126,445

5,624,564
0
(207,781)

6,768,379
0
(266,004)

11,345,149
0
(844,193)

13,126,445
0
(2,092,041)

13,126,445
0
(3,362,517)
198,966
(3,561,483)

13,126,445
0
(4,311,012)
198,963
(4,509,975)

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

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

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

122,542

55,165

358,977

555,349

638,801
0
0
0

(53,626)
0
0
0

(797,784)
0
0
0

(1,414,765)
23,092
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

13,462,150

19,165,108

20,318,908

25,829,520

30,534,420

31,438,780

15,128,535

21,255,834

23,291,771

29,777,481

2,143,111
33,419,153

1,913,121
35,957,625

13,462,150
241,448

19,165,108
426,180

20,318,908
883,125

25,829,520
978,869

28,333,761
1,148,218

29,465,134
1,410,996

0
0

2,977
0

1,344,686

4,457,669

5,404,853

8,409,554

57,548
7,857,942

57,548
6,871,464

141,429

2,063,755

1,239,158

270,011

1,049,091

333,629

115,771
22,808

431,418
98,389

676,256
476,667

709,372
720,314

1,196,608
1,267,248

608,813
779,305

0
1,064,678

0
1,864,107

0
3,012,772

0
6,709,857

0
4,344,995

0
5,149,717

3,094,300
1,403,210

6,396,549
3,028,448

8,041,199
4,479,549

8,950,318
3,848,376

9,098,678
6,187,941

9,641,691
6,442,871

1,691,090
6,530,163

3,368,101
10,156,595

3,561,650
8,329,012

5,101,942
6,633,333

2,910,737
6,041,712

3,198,820
3,572,624

4,300,000

1,658,600

0
0

0
0

6,530,163

10,156,595

8,329,012

6,633,333

234,633
1,507,079

319,217
1,594,807

5,182,373
2,633,750

7,069,633
2,633,750

9,353,550
2,633,750

18,655,423
3,233,750

23,251,972
3,233,750

25,095,929
3,233,750

2,633,750
0
2,548,623

2,633,750
0
4,435,883

2,633,750
0
6,719,800

3,233,750
0
15,421,673

3,233,750
0
20,018,222
7,343,422
12,674,800

3,233,750
0
21,862,179
7,343,422
14,518,757

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

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

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

149,019

275,150

751,244

1,930,742

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

8,462,382

16,088,505

19,335,444

20,096,530

20,445,961

21,092,208

12,626,683

20,517,727

24,188,139

25,802,361

1,554,064
25,588,614

3,140,444
25,689,208

8,462,382
341,094

16,088,505
372,734

19,330,866
439,254

20,081,448
865,546

18,827,414
1,047,685

17,894,924
1,043,975

4,578

15,082

7,332
0

1,774
200

1,957,025

2,704,907

4,101,530

6,055,031

57,151
5,214,877

54,866
5,002,734

369,802

100,938

123,359

118,894

99,932

73,265

183,217
92,597

200,946
163,459

369,709
194,587

433,952
743,366

650,914
682,244

504,718
751,400

5,000
1,306,409

17,395
2,222,169

944,669
2,469,206

734,859
4,023,960

406,563
3,375,224

472,338
3,201,013

1,930,642
1,107,173

3,526,065
1,531,821

4,919,564
1,806,377

7,591,699
4,637,749

9,962,884
7,113,820

9,341,951
4,928,267

823,469
2,199,356

1,994,244
7,955,320

3,113,187
9,524,373

2,953,950
10,198,973

2,849,064
8,980,153

4,413,684
11,618,783

1,688,828

3,299,751

41,650

8,000,000

0
7,200,000

0
8,289,800

2,157,706

7,955,320

9,524,373

2,198,973

18,990
72,335

26,493
2,739

6,289,409
3,248,844

7,312,027
3,519,581

8,993,037
4,264,108

8,360,889
4,264,108

6,717,801
4,264,108

5,134,208
4,264,108

2,707,370
541,474
3,040,565

2,978,107
541,474
3,792,446

3,722,634
541,474
4,728,929

3,722,634
541,474
4,096,781

3,722,634
541,474
2,453,693
2,727,277
(273,584)

3,722,634
541,474
870,100
3,780,433
(2,910,333)

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

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

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

112,974

199,459

154,683

980,923

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

232,362

3,653,911

3,891,749

4,229,550

8,342,638

8,996,961

1,343,198

3,663,836

4,086,394

4,627,753

4,682,250
4,227,008

0
9,876,591

232,362
26,486

3,653,911
13,764

3,891,749
185,507

4,229,550
204,174

3,643,343
185,463

8,979,916
313,010

0
0

0
0

204,860

487,769

1,032,321

1,439,886

17,045
1,312,827

17,045
1,412,662

686

5,412

11,048

19,459

9,874

22,868

2,783
0

128,499
308

164,526
9,054

306,835
4,364

197,145
3,740

280,371
18,669

0
201,391

0
353,550

0
847,693

1,109,228

0
1,102,068

0
1,090,754

1,254,497
0

1,512,347
342,186

1,667,250
454,247

1,708,617
716,962

1,388,528
1,064,495

2,928,562
1,057,073

1,254,497
0

1,170,161
0

1,213,003
400,000

991,655
1,270,000

324,033
4,945,833

1,871,489
4,316,361

4,200,000

3,795,833

0
0

0
0

400,000

1,270,000

5,447
740,386

7,130
513,398

(817,275)
123,200

2,629,333
123,200

2,856,820
123,200

2,690,819
150,304

3,321,104
150,304

3,164,700
416,971

123,200
0
(940,475)

123,200
0
2,506,133

123,200
0
2,733,620

150,304
0
2,540,515

150,304
0
1,188,807
909,841
278,966

416,971
0
838,438
750,454
87,984

1,981,993

1,909,291

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

1,351,160
1,351,160
0
1,231,374
137,584
1,093,790
119,786
95,192
82,518
12,674

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

37,308

16,582

20,449

22,878

(60,238)
0
0
0

(22,755)
1,604
0
0

37,445
3,217
0
0

(416,145)
4,940
0
0

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

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

9,327,157

8,991,466

8,024,787

9,598,453

9,795,845

12,291,354

745
12,408,101

3,917
12,341,119

6,381,731
233,339

7,683,391
277,435

7,510,640
375,728

9,570,865
435,306

9,253,929
380,318

8,933,987
391,843

0
0

0
0

506,184

721,605

1,099,857

901,724

72,483
1,020,577

53,562
1,334,028

17,529

71,905

305,491

139,183

159,302

55,872

56,825
18,944

96,757
12,490

150,294
29,717

68,691
40,124

146,066
37,402

132,072
36,851

0
412,886

0
540,453

0
614,355

0
653,726

0
677,807

0
1,109,233

2,168,294
116,409

2,731,795
528,495

5,330,890
1,002,991

3,910,850
1,675,618

3,489,131
2,215,425

4,908,339
3,101,854

2,051,885
2,469,198

2,203,300
2,746,796

4,327,899
609,180

2,235,232
2,016,423

1,273,706
2,277,173

1,806,485
1,078,308

1,344,254

587,028

8,731
0

2,348
0

2,469,198

2,746,796

609,180

2,016,423

25,155
899,033

33,247
455,685

2,250,423
1,547,466

2,926,405
1,624,839

2,670,427
1,698,148

4,545,316
1,995,324

4,581,430
1,995,324

4,338,847
2,227,552

1,547,466
0
702,957

1,624,839
0
1,301,566

1,698,148
0
972,279

1,995,324
0
2,549,992

1,995,324
0
405,217

405,217

2,227,552
0
(9,334)
0
(9,334)

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

2,180,889

2,120,629

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

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

185,644

171,781

148,458

705,054

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

744,289

824,853

851,985

2,026,105

74,727
2,074,468

0
2,209,451

744,289
46,643

747,422
46,009

848,781
50,731

2,616
0

3,116
0

88
594,336

88
585,639

1,820,866
1,313,319
507,547
1,611,427

602,063
6,367

11,815

10,266

175,879
134,212

225,301
56,135

238,864
49,649

0
285,605

38,597
262,488

0
286,860

608,941
244,641

507,111
326,434

571,714
333,076

364,300
166,662

180,677
141,267

238,638
90,347

83,333

41,666

0
0

0
0

166,662

0
57,934

0
48,681

570,749
797,745

770,811
797,745

775,563
797,745

797,745
0
(226,996)

797,745
0
(26,934)
0
(26,934)

797,745
0
(22,182)
0
(22,182)

1,795,109
1,109,983
685,126
1,298,132
123,118
1,175,014
496,977
185,070
130,108
54,962

1,544,124
823,304
720,820
1,266,771
98,429
1,168,342
277,353
246,114
190,965
55,149

16,393
63,718
62,813
263,398
15,040
0
0
165,182

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,804,681

1,568,641

1,189,122

2,030,061

1,908,233

1,795,364

1,657,398

1,658,784

1,657,107

2,843,445

15,007
2,843,600

15,323
2,842,411

1,351,809
95,676

1,266,726
86,469

1,189,122
78,927

2,030,061
144,994

1,886,003
127,841

1,772,057
113,633

452,872

301,915

0
0

0
0

831,174

1,183,194

1,066,368

950,084

7,223
998,895

7,984
758,566

5,066

6,472

580

6,648

19,685

1,797

136,005
327,521

213,188
482,718

162,539
326,739

180,801
345,846

183,234
327,272

51,828
239,756

0
362,582

0
480,816

0
576,510

0
416,789

0
468,704

0
465,185

806,744
474,832

1,016,202
654,964

983,269
700,367

1,437,555
709,913

1,767,395
709,776

1,973,042
700,388

331,912
812

361,238
415

282,902
188

727,642
117,278

1,057,619
236,974

1,272,654
239,859

812

415

188

1,828,299
1,700,000

1,735,218
1,700,000

1,700,000
0
128,299

94

215,020
0

218,407
0

117,278

15,296
6,564

13,389
8,063

1,272,033
1,700,000

1,425,312
4,278,385

902,760
4,278,385

341,029
4,278,385

1,700,000
0
35,218

1,700,000
0
(427,967)

4,278,385
0
(2,853,073)

4,278,385
0
(4,676,439)
10,904
(4,687,343)

4,278,385
0
(5,178,326)
10,904
(5,189,230)

1,300,814

1,240,970

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

169,256

164,895

206,358

200,621

569,065
569,065
0
990,112
125,096
865,016
(421,047)
42,281
2,697
39,584

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)

(132,184)
6,832
0
0

(104,533)
5,053
0
0

(432,898)
2,361
0
0

(738,391)
1,595
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,453,458

5,155,750

5,981,208

6,941,645

10,423,762

11,195,501

5,982,463

7,643,831

9,562,208

10,980,568

308,974
13,946,516

627,813
15,004,133

3,493,610
334,607

5,178,095
492,212

5,981,208
549,795

6,941,645
606,156

9,976,176
1,080,693

9,879,175
1,552,040

(40,152)

(22,345)

2,994,158

4,021,059

4,660,968

5,472,895

138,612
6,192,403

688,513
6,632,162

102,111

161,326

241,726

237,872

267,433

275,959

1,090,551
825,961

1,383,876
1,053,214

1,549,155
1,032,444

1,721,041
1,169,172

2,367,095
984,419

2,174,691
1,935,421

51,027
924,508

926
1,421,717

7,417
1,830,226

7,318
2,337,492

0
2,573,456

0
2,246,091

3,062,545
1,270,263

4,523,422
1,704,914

5,268,238
2,081,866

5,217,977
1,963,849

5,212,558

5,623,924

1,792,282
931,372

2,818,508
837,248

3,186,372
1,168,813

3,254,128
2,353,621

5,212,558
5,702,556

5,623,924
5,651,823

5,651,823

931,372

837,248

1,168,813

2,353,621

0
5,702,556

2,453,699
1,086,477

3,816,139
1,552,135

4,205,125
1,776,713

4,842,942
2,315,519

5,701,051
2,699,566

6,551,916
2,917,733

1,086,477
0
1,367,222

1,552,135
0
2,264,004

1,776,713
0
2,428,412

2,315,519
0
2,527,423

2,699,566
0
2,871,747

2,917,733
0
3,230,730

2,871,747

3,230,730

129,738

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

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

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

637,214

751,703

906,553

1,048,105

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

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

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%

6
7.4%
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

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,014,103

1,209,237

1,457,054

1,322,720

1,360,688

1,693,657

1,485,070

1,775,562

2,138,134

2,158,179

172,949
2,162,284

139,967
2,631,731

1,014,103
93,781

1,209,237
96,779

1,457,054
114,755

1,322,720
154,379

1,187,739
139,086

1,531,690
125,808

1,054,543

1,157,238

1,315,754

1,428,705

0
1,433,827

22,000
1,002,549

4,436

12,592

13,865

17,204

34,484

16,105

517,662
203,706

554,840
205,426

603,174
232,144

586,522
338,833

552,558
253,162

199,389
256,977

0
328,739

0
384,380

0
466,571

0
486,146

0
593,623

0
530,078

1,280,720
572,899

1,606,720
708,547

1,960,274
1,044,040

1,568,537
776,726

1,561,056

1,547,325

707,821
444,700

898,173
286,570

916,234
433,063

791,811
830,655

1,561,056
1,389,570

1,547,325
1,627,368

0
1,389,570

444,700

286,570

433,063

830,655

343,226
330,000

473,185
429,000

379,471
429,000

352,233
858,000

(156,111)
858,000

1,627,368
(478,487)
858,000

330,000
0
13,226

429,000
0
44,185

429,000
0
(49,529)

858,000
0
(505,767)

858,000
0
(1,014,111)

858,000
0
(1,613,780)

(1,014,111)

(1,613,780)

277,293

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

1,033,035
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

50,360

165,142
209,183
196,043
(503,129)
5,215

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

736,084

516,680

610,747

617,247

623,970

51,872
690,725

348,917
13,581

335,433
0

352,930
13,619

344,597
14,832

286,986
336,984

8,027
682,698

132,434

147,988

187,635

100,478

51,581
105,147

676,185
106,826

48

502

260

964

3,608

1,423

48,533
61,744

61,121
62,681

91,168
71,904

57,949
22,975

67,662
13,401

73,375
2,349

0
22,109

0
23,684

0
24,303

0
18,590

0
20,476

0
29,679

323,603
86,029

347,835
84,019

424,281
0

150,607
0

147,752

231,584

237,574
2,990

263,816
0

424,281
0

150,607
283,381

147,752
191,436

231,584
221,118

221,118

2,990

283,381

0
191,436

154,758
77,412

135,586
77,412

116,284
77,412

11,087
77,412

104,526
77,412

390,208
77,412

77,412
0
77,346

77,412
0
58,174

77,412
0
38,872

77,412
0
(66,325)

77,412

77,412
0
312,796

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

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

142,832
46,027
96,805
26,094
17,403
4,895
12,508

20,233
814
512
93,619
180

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

478,649

1,872,284

1,953,395

2,261,022

2,788,400

2,934,338

827,317

2,402,593

2,666,077

3,158,541

135,229
3,623,554

203,945
3,873,404

518,801
50,298

1,894,629
194,526

1,953,395
204,932

2,261,022
188,342

2,501,292
229,989

2,504,073
249,553

(40,152)

(22,345)

862,811

1,584,064

2,022,085

2,419,586

151,879
2,187,798

226,320
2,791,451

7,246

32,541

133,179

44,133

34,482

136,836

256,050
248,438

462,638
419,644

550,753
379,695

658,121
427,309

792,309

888,200
634,559

50,000
301,077

0
669,241

6,592
951,866

6,592
1,283,431

0
1,361,007

0
1,131,856

280,347
136,417

1,184,072
381,264

1,413,640
523,001

1,722,867
515,680

1,106,714

1,179,018

143,930
44,252

802,808
73,679

890,639
24,840

1,207,187
41,693

1,106,714
408,613

1,179,018
403,209

403,209

44,252

73,679

24,840

41,693

0
408,613

1,016,861
302,082

2,198,597
639,767

2,537,000
799,709

2,916,048
839,694

3,460,871
881,679

4,143,562
969,846

302,082
0
714,779

639,767
0
1,558,830

799,709
0
1,737,291

839,694
0
2,076,354

881,679
0
2,579,192

969,846
0
3,173,716

2,579,192

3,173,716

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

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

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

528,609
149,758

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

177,203

41
144,965

193,067

131,776

172,570

46,367
109,699

4,633
152,021

3,479

14,886

57,357
21,658

82,826
18,597

0
27,205

0
35,712

171,141

172,193

171,141
0

172,193
12,146

0
0
0

12,146

116,742
75,350

144,885
75,350

75,350
0
(41,202)

75,350
0
(13,059)

(41,202)

(13,059)

82,594

82,594

265,270
229,199
36,071
248,970
237,470
11,500
16,300
16,424
7,060
9,364

390,640
352,912
37,728
318,562
262,370
56,192
72,078
24,850
9,825
15,025

9,424

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

695,197

1,151,303

1,165,311

1,403,034

1,483,407

744,784

84,703
815,905

595,967
65,410

550,316
60,313

726,184
62,466

738,623
68,095

815,905
71,470

880,720
64,814

112,147

151,673

102,303

145,165

(140,814)
208,234

(270,226)
212,324

23,204

24,823

14,515

34,433

24,316

10,231

51,417
25,999

73,144
42,180

59,097
18,454

44,405
51,748

123,939
20,425

128,900
23,341

0
11,527

0
11,526

0
10,237

0
14,579

0
39,554

0
49,852

291,238
48,484

341,775
51,885

313,685
43,000

458,040
85,791

186,702

204,646

242,754
137,390

289,890
109,749

270,685
210,829

372,249
132,000

186,702
399,823

204,646
393,579

137,390

109,749

210,829

132,000

0
399,823

393,579

279,486
109,118

250,465
109,118

303,973
145,487

293,748
145,487

296,800
145,487

309,296
145,487

109,118
0
170,368

109,118
0
141,347

145,487
0
158,486

145,487
0
148,261

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

104,169

120,243

104,169

120,243

47,144

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

818,887
224,340
594,547
114,446
78,105
57,650
20,455

102,690
40,006
38,087
13,172
8,067

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

206,917

755
160,611

57
246,083

132,112
14,832

201,827
14,691

6,532
147,391

5,033
119,101

9,557

6,690

28,779
90,342

19,827
66,729

0
18,713

0
25,855

118,514

77,834

118,514
48,903

77,834
39,371

0
0
48,903

39,371

119,373
70,000

208,813
200,000

70,000
0
49,373

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

27,047

41,723
13,977
13,977
27,025
9,411
0
(10,724)

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

3,842,484

753,734

952,173

1,175,521

2,089,019

4,859,706

8,102
4,864,865

475,850
43,754

594,628
79,986

730,863
89,538

1,527,609
117,296

4,113,866
194,761

3,818,024
307,996

535,893

614,110

637,398

960,687

16,140
1,565,475

16,358
1,792,732

59,691

82,322

67,694

135,230

147,860

75,232

144,891
273,511

153,251
307,916

165,419
309,816

276,533
311,780

646,498
565,391

637,232
897,711

1,027
56,773

926
69,695

825
93,644

726
236,418

0
205,726

0
182,557

390,779
262,655

485,588
288,917

536,134
298,809

788,090
430,376

1,485,960

1,779,982

128,124
173,178

196,671
220,573

237,325
264,745

357,714
955,128

1,485,960
2,944,716

1,779,982
2,640,039

173,178

220,573

264,745

955,128

0
2,944,716

2,640,039

447,786
94,865

502,577
113,838

567,382
136,605

745,078
163,926

1,264,805
360,638

1,215,195
360,638

94,865
0
352,921

113,838
0
388,739

136,605
0
430,777

163,926
0
581,152

360,638
0
904,167

360,638
0
854,557

904,167

854,557

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

2,853,257
2,853,257

4,061,423
4,061,423

287,596
156,324

432,253
259,001

440,411
264,189

533,650
327,971

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

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

3,002,044
1,455,916
1,546,128
1,059,379
619,320
559,697
59,623

268,485
266,836
263,402
73,548
(25,801)

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

909,621

958,565

1,058,398

1,278,901

1,474,175

1,626,642

139,167
1,688,353

392,978
60,057

446,858
52,882

613,788
56,759

747,074
63,212

806,500
93,571

762,244
106,480

255,738

325,394

355,201

418,274

6,927
434,832

8,210
455,158

6,724

7,784

11,451

5,908

9,647

14,556

71,998
6,435

78,882
9,239

79,544
14,303

97,511
16,527

97,993
20,040

144,942
35,158

0
170,581

0
229,489

0
249,903

0
298,328

0
307,152

0
260,502

407,229
114,678

468,803
141,181

531,595
123,915

529,836
155,276

434,719

431,342

292,551
39,203

327,622
57,018

407,680
145,677

374,560
110,764

434,719
319,495

431,342
314,993

314,993

39,203

57,018

145,677

110,764

0
319,495

202,284
100,000

246,431
110,000

291,717
115,500

524,748
231,000

494,045
231,000

618,444
231,000

100,000
0
102,284

110,000
0
136,431

115,500
0
176,217

231,000
0
293,748

231,000
0
263,045

231,000
0
387,444

263,045

387,444

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

1,409,803
1,288,992
120,811
1,282,562
324,518
958,044
127,241
107,519
75,479
32,040

2,071,091
1,874,968
196,123
1,671,806
415,345
1,256,461
399,285
166,130
111,915
54,215

255,292
56,353
50,631
(36,561)
5,859

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

14,761,743

21,574,208

26,144,111

28,373,770

26,981,565
14,580,275
2,047,698
181,468

35,830,418
21,234,458
2,587,984
339,750

43,074,221
25,596,159
2,925,751
547,952

48,234,261
27,845,540
3,269,274
528,230

69,273,460
29,606,614
23,894,251
2,169,978
5,122,811
8,479,806
51,765,557
13,070,030
38,695,527
2,856,332

75,967,872
23,043,312
32,573,262
3,781,823
7,346,153
9,223,322
54,203,167
7,826,550
46,376,617
4,349,836

69,123,185
20,614,201
27,765,573
4,450,132
6,126,994
10,166,285
45,550,585
5,792,357
39,758,228
4,564,770

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
29,413,314
5,662,980
5,662,980
0
23,750,334

4,349,836
38,989,077
5,825,501
5,825,501
0
33,163,576

4,564,770
45,151,941
6,434,533
6,434,533
0
38,717,408

2,721,626
49,063,802
7,232,752
7,232,752
0
41,831,050

159,834,423
159,667,317
167,106
145,140,345

199,008,700
198,903,678
105,022
178,682,699

205,866,248
205,695,767
170,481
186,957,291

207,326,876
207,137,804
189,072
192,965,276

14,694,078
4,531,844

20,326,001
5,871,629

18,908,957
6,632,528

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

11,729,149
3,522,473
1,718,942
121,832

17,322,380
5,640,382
5,614,899
678,201

13,834,060
4,785,379
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

32,269,646
0
6,487,734
13,070,030

43,338,913
0
6,067,099
7,826,550

49,716,711
0
5,917,734
5,792,357

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

0.71
0.42
1.36
1.90
1.34
90.81
1.86
16.04
45.24
41.67
4.77
6.69

0.63
0.65
1.90
2.04
1.40
89.79
1.50
19.08
50.65
45.82
2.08
6.11

0.68
0.87
2.16
2.16
1.52
90.81
1.11
14.35
32.88
29.73
2.89
7.41

0.60
1.09
2.87
2.26
1.58
93.07
0.87
9.76
19.39
17.99
2.22
7.89

0.63
1.65
3.76
1.64
1.52
92.38
1.00
5.07
9.84
9.05
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
12.55
26.07
23.45
1.67
7.33
15.79
6.02
0.29
9.54
66.76

4,531,844

5,871,629

6,632,528

6,518,772

669,934

1,285,068

1,786,411

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

7.34
0.00
13.68
49.04

8.70
0.00
18.96
63.29

6.72
0.00
13.37
66.70

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%

50
38.5%

0%

0
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
2009

30

Percentage

2010

9.54

8
12.62

9.79
5.13

9.01

Percentage

10

2010

23.39

20
15

2009

10

25.81
25

Net Profit Before Tax

6.02
6

2.98
1.52

Return on
Return on
Assets
Equity

2.25

1.51
1.00

1.14

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

90,647

127,109

152,633

303,374

556,830

347,688

277,030

319,763

364,992

530,829

0
599,080

13,775
623,979

90,647
15,038

127,109
19,091

152,633
21,607

303,374
21,085

344,480
35,412

331,661
45,744

0
210,375

0
0

603,258

900,898

1,054,575

1,168,158

1,975
1,114,661

2,252
1,801,777

26,957

35,301

49,299

163,353

225,651

193,058

188,941
157,116

312,497
156,768

310,054
222,777

285,016
190,395

448,686
237,009

630,739
309,221

200,145
30,099

352,920
43,412

425,934
46,511

439,230
90,164

152,038
51,277

609,152
59,607

107,228
2,022

175,914
5,233

158,184
7,283

231,554
8,301

195,987

303,069

105,206
0

170,681
11,802

150,901
8,639

223,253
2,691

195,987
33,336

303,069
29,070

0
0

0
0

11,802

8,639

2,691

0
33,336

0
29,070

586,677
120,000

840,291
120,000

1,040,385
120,000

1,237,287
120,000

1,442,168
144,000

1,817,326
144,000

120,000
0
466,677

120,000
0
720,291

120,000
0
920,385

120,000
0
1,117,287

144,000
0
1,298,168
1,298,168

144,000
0
1,673,326
1,673,326

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

2,413,309
2,413,309

3,906,482
3,906,482

360,097
55,479

532,641
89,035

536,572
101,742

511,862
114,385

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

55,479

89,035

101,742

114,385

1,928,143
1,638,386
289,757
485,166
124,905
43,459
81,446

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

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

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

409,533

334,475

433,906

448,614

457,753

499,336

8,378
606,064

158,513
15,476

252,243
16,917

244,928
28,303

235,452
27,165

252,695
28,614

360,293
31,801

40,000

7,086,948

7,026,146

6,582,380

6,850,558

3,225
7,124,751

862
7,256,621

5,017,307

5,142,121

4,384,551

3,348,997

3,522,479

3,112,794

740,140
6,933

731,002
6,116

708,733
24,271

1,931,399
7,143

1,253,682
20,292

1,073,122
264,063

751,294
571,274

526,808
620,099

1,018,800
446,025

446,760
1,116,259

0
2,328,298

0
2,806,642

4,121,706
0

3,728,509
0

2,976,087
0

2,658,238
0

1,907,421

1,241,289

4,121,706
0

3,728,509
0

2,976,087
0

2,658,238
0

1,907,421
53,331

1,241,289
62,144

62,144

0
53,331

3,123,755
214,682

3,549,880
214,682

3,851,221
214,682

4,427,772
214,682

5,419,919
214,682

6,362,721
214,682

214,682
0
2,909,073

214,682
0
3,335,198

214,682
0
3,636,539

214,682
0
4,213,090

214,682
0
5,205,237

214,682
0
6,148,039

5,205,237

6,148,039

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

15,764,825
15,764,825

14,936,034
14,936,034

1,602,548
262,847

1,635,047
286,766

1,653,486
294,878

1,577,787
291,599

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

11,987,519
11,220,970
766,549
2,948,515
428,718
92,605
336,113

308,178
2,154

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

637,733

757,126

282,783

392,155

491,479

680,655

58,469
830,023

75,404
986,170

151,188
18,051

239,712
25,250

310,995
33,896

517,862
35,679

576,825
43,082

680,935
54,226

375

0
0

0
0

354,173

323,175

444,247

688,874

2,439
588,698

787
756,814

32,607

30,309

37,501

49,274

28,892

29,869

211,650
0

218,012
45,864

306,171
51,834

410,672
77,387

434,594
88,521

531,597
100,396

0
109,916

254
28,736

0
48,741

0
151,541

6,132
30,559

26,224
68,728

205,740
90,314

247,435
106,974

419,244
171,200

626,638
313,002

435,472
103,616

544,754
174,598

115,426
60,000

140,461
40,000

248,044
0

313,636
0

331,856
85,627

370,156
111,246

0
0

60,000

40,000

85,627

111,246

239,996
45,977

275,452
52,874

335,998
60,805

580,098
69,926

705,332
69,926

857,940
83,911

45,977
0
194,019

52,874
0
222,578

60,805
0
275,193

69,926
0
510,172

69,926
0
461,620
282,500
179,120

83,911
0
600,243
375,500
224,743

173,786

173,786

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

4,024,422
4,024,422

157,583
100,349

189,063
115,097

291,622
148,619

386,883
183,145

3,156,807
3,153,601
3,206
2,626,740
2,114,974
511,766
530,067
215,799
124,359
91,440

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

100,349

115,097

148,619

183,145

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

503,471

592,672

889,787

876,807

820,473

854,852

2,201

776,739

908,668

1,258,104

1,286,776

44,929
0

503,258
23,158

591,980
44,949

889,331
53,776

876,110
53,444

807,450

213

692

456

697

510

0
0

211,129

311,057

247,550

332,201

10,312
330,215

10,792
382,404

799,131
0

6,918

13,621

10,132

6,778

5,051

2,767

117,738
40,079

207,842
30,387

154,634
0

197,464
44,042

120,626
125,307

176,340
105,520

0
46,394

0
59,207

0
82,784

0
83,917

79,231

0
97,777

284,736
132,215

464,390
231,816

460,902
279,845

528,655
306,878

364,390
175,123

395,227
161,894

152,521
165,959

232,574
169,062

181,057
120,821

221,777
105,362

189,267
144,660

233,333
164,247

61,500

70,268

0
0

165,959

169,062

120,821

105,362

83,160

0
93,979

263,905
123,367

270,277
123,367

555,614
123,367

574,991
123,367

641,638
246,734

677,782
246,734

123,367
0
140,538

123,367
0
146,910

123,367
0
432,247

123,367
0
451,624

246,734

(20,876)

246,734
0
15,268
0
15,268

415,780

415,780

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

1,135,161
1,135,161

122,598
47,745

138,200
45,878

77,675
49,041

141,764
58,619

1,529,328
1,529,328
0
1,341,549
960,716
380,833
187,779
77,119
20,690
56,429

(20,876)

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

47,745

45,878

49,041

58,619

1,070,977
62,018
1,008,959
64,184
63,548
18,470
45,078

30,133
8,507

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,907,461

3,627,822

3,591,255

3,391,418

3,452,825

3,263,096

3,154,250

5,247,876

5,621,763

5,867,597

187,161
5,958,160

64,231
6,237,214

1,888,736
422,679

3,598,732
399,070

3,566,931
459,154

3,376,605
459,144

3,225,740
308,895

3,160,666
440,775

18,725

29,090

24,324

14,813

16,601

8,053

4,183,867

4,002,343

4,445,390

5,313,233

23,323
3,927,828

30,146
5,259,180

1,432,363

682,088

919,623

504,138

636,426

1,641,963

1,567,530
139,701

1,937,675
280,448

1,580,925
282,246

1,862,069
407,354

1,792,036
320,180

1,664,297
445,689

410,241
634,032

344,414
757,718

864,989
797,607

1,391,343
1,148,329

0
1,179,186

0
1,507,231

3,047,358
231,981

3,374,601
387,191

3,951,557
465,829

4,602,965
436,751

3,108,529

3,517,937

2,815,377
933,019

2,987,410
1,590,097

3,485,728
1,109,267

4,166,214
697,517

3,108,529
950,862

3,517,937
1,112,515

1,112,515

933,019

1,590,097

1,109,267

697,517

0
950,862

2,110,951
255,460

2,665,467
357,644

2,975,821
411,291

3,404,169
472,985

3,321,262
472,985

3,891,824
543,932

255,460
0
1,855,491

357,644
0
2,307,823

411,291
0
2,564,530

472,985
0
2,931,184

472,985
0
2,848,277

543,932
0
3,347,892

2,848,277

3,347,892

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

13,747,820
13,747,820

25,554,774
25,554,774

1,344,171
508,669

1,629,717
604,081

1,563,773
641,602

1,556,541
564,120

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

23,555,842
19,025,794
4,530,048
1,998,932
1,042,291
690,794
351,497

400,527
251,777

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

416,875

405,330

561,767

650,472

793,209

852,908

7,308
924,966

962,266

168,616
19,781

238,478
20,677

353,235
28,882

374,795
1,290

403,674
43,432

399,774
45,346

2,822

1,305

315

440
611

421,135

590,002

613,445

610,375

5,578
537,157

4,505
605,613

26,712

97,684

68,985

52,205

30,510

12,377

232,062
87,943

319,377
106,448

318,348
114,277

275,420
98,689

325,773
92,550

403,513
120,664

8,712
65,706

2,371
64,122

2,479
109,356

77,562
106,499

88,324

69,059

164,723
25,858

251,609
15,554

278,127
30,756

238,169
20,874

143,988

164,240

138,865
24,468

236,055
47,685

247,371
64,745

217,295
43,872

143,988
87,439

164,240
76,814

27,701

19,786

0
0

24,468

47,685

64,745

43,872

0
59,738

0
57,028

403,382
115,950

530,491
133,343

623,808
133,343

703,129
133,343

722,605
133,343

769,889
133,343

115,950
0
287,432

133,343
0
397,148

133,343
0
490,465

133,343
0
569,786

133,343
0
589,262

133,343
0
636,546

908,060
898,295
9,765
721,967

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

1,095,824
1,050,353
45,471
963,741
131,382
832,359
132,083
84,523
24,054
60,469

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

64,545

77,642

81,999

93,967

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

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

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

201,715

196,295

348,507

351,968

354,207

361,356

19,776
345,214

20,347
345,234

207,088
6,542

203,760
6,788

200,684
6,554

201,302
6,531

179,551
6,396

173,504
6,068

2,388

2,444

101,369

112,011

113,338

121,825

130,152

133,844

2,271

1,975

1,280

1,124

557

1,319

21,096
11,153

23,823
12,967

26,469
11,978

30,300
13,825

49,989
10,182

51,720
11,140

0
66,849

0
73,246

0
73,611

0
76,576

69,424

69,665

84,204
37,355

89,441
37,545

87,077
37,922

88,791
42,060

99,109
34,506

98,041
34,506

46,849
47,219

51,896
45,180

49,155
44,354

46,731
47,463

64,603
45,330

63,535
43,777

41,997

41,997

47,219

45,180

44,354

47,463

3,333

1,780

177,034
58,000

181,150
58,000

182,591
58,000

186,873
58,000

187,428
58,000

188,321
58,000

58,000
0
119,034

58,000
0
123,150

58,000
0
124,591

58,000
0
128,873

58,000

58,000

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

(2,273)
14,700
(16,973)

2,452
14,700
(12,248)

131,701

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

48,524
25,376
23,148
8,696
7,119
2,572
4,547

5,695
1,331
1,012
554

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

87,178

203,383

255,249

252,155

255,171

249,506

348,025

484,769

551,571

575,063

1,918
585,971

1,918
604,773

87,178
11,175

203,383
11,895

255,249
17,671

252,155
27,398

239,532
27,682

233,821
26,890

796
8,050

467
8,338

245,898

354,534

460,390

554,791

4,875
639,502

4,962
793,498

22,937

37,170

18,231

6,091

15,705

11,181

100,391
51,418

125,315
71,251

206,713
101,690

157,689
193,471

149,532
278,732

193,731
409,893

8,500
62,652

16,747
104,051

18,975
114,781

0
197,540

0
195,533

178,693

74,562
0

98,615
43,464

306,156
208,242

421,675
310,362

444,777
289,830

509,446
221,867

74,562
0

55,151
121,190

97,914
84,128

111,313
50,332

154,947
65,532

287,579
66,749

14,082

14,082

0
0

121,190

84,128

50,332

0
51,450

52,667

258,514
55,253

338,112
55,253

325,355
55,253

334,939
60,778

384,364
79,012

466,809
94,814

55,253
0
203,261

55,253
0
282,859

55,253
0
270,102

60,778
0
274,161

94,814
371,995

79,012
0
305,352
0
305,352
0

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

1,604,626
1,604,626
0
1,440,373
926,421
513,952
164,253
71,879
33,778
38,101

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

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

22,921

22,985

27,298

52,452

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

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

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

2006

2007

2008

112,007

132,872

672,613

1,012,468

675,579

620,566

188,377

188,377

870,005

1,046,491

679
713,825

679
711,680

105,776
9,481

118,249
12,566

634,088
62,982

975,287
61,375

603,917
66,409

558,392
44,875

6,231

14,623

38,525

37,181

27,886

18,591

115,673

334,957

1,278,220

985,513

43,097
516,786

42,904
402,374

919

31,038

47,694

41,723

5,982

1,154

81,915
3,727

212,665
2,450

414,767
22,107

283,571
12,922

242,616
24,569

182,426
22,459

0
29,112

0
88,804

40,000
753,652

0
647,297

0
243,619

0
196,335

277,946
0

615,403
0

2,183,202
26,808

2,442,094
326,722

1,464,747

1,540,593

277,946
0

615,403
0

2,156,394
43,192

2,115,372
21,274

1,464,747
782,840

1,540,593
779,362

0
782,840

779,362

E.Shareholders Equity (E1+E2+E3)

1.Issued, Subscribed & 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

43,192

21,274

(50,266)
90,000

(147,574)
90,000

(275,561)
214,000

(465,387)
214,000

(1,055,222)
214,000

(1,297,015)
214,000

90,000
0
(140,266)

90,000
0
(237,574)

214,000
0
(489,561)

214,000
0
(679,387)

214,000
0
(1,424,211)

214,000
0
(1,659,962)

(1,424,211)

(1,659,962)

154,989

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

162,765
66,911
95,854
(41,343)
363,893
16,195
347,698

79,012
149,342
149,001
(593,326)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,030,232

2,377,137

2,356,285

2,178,035

2,031,497

1,869,073

15,000

15,000

2,734,823

3,184,416

3,357,407

3,378,245

2,030,232
159,728

2,368,459
172,687

2,350,762
194,551

2,175,667
200,350

1,377,935

1,813,812

8,678

5,523

2,368

4,281,904

5,336,103

4,536,361

3,676,889

40,343

40,261

598,219
2,465,420

0
2,335,477

146,083

148,234

87,926

90,574

107,746

124,450

1,837,288
241,013

2,519,154
745,843

1,567,646
943,005

1,234,219
294,772

746,766
29,538

571,665
29,700

0
2,057,520

705,474
1,217,398

774,682
1,163,102

0
2,057,324

892,740
688,630

892,740
716,922

4,435,748
1,815,277

5,356,110
2,984,392

4,835,918
2,209,552

4,091,105
2,290,752

4,270,849
1,929,585

4,485,974
1,963,596

2,620,471
566,667

2,371,718
706,421

2,626,366
367,518

1,800,353
701,378

2,341,264
697,427

2,522,378
465,582

666,853

437,235

0
0
30,574

28,347

566,667

706,421

367,518

701,378

1,309,721
770,733

1,650,709
770,733

1,689,210
770,733

1,062,441
770,733

(471,359)
889,733

(747,006)
889,733

770,733
0
538,988

770,733
0
879,976

770,733
0
918,477

770,733
0
291,708

889,733
0
(1,199,235)
0
(1,199,235)

889,733
0
(1,636,739)
0
(1,636,739)

(161,857)

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

1,557,016
1,557,016
0
2,382,144
1,826,496
555,648
(825,128)
591,065
196,268
394,797

1,025,341
1,025,341
0
1,173,764
838,852
334,912
(148,423)
423,228
81,704
341,524

97,335
261,018
90,288
(1,510,059)
(120,025)

66,744
8,920
1,019
(432,203)
5,301

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

298,662

506,150

502,357

599,749

690,355

796,908

429,220

637,941

667,294

917,768

41,140
1,017,369

37,448
1,183,411

298,662
25,658

506,150
29,247

502,357
35,432

599,749
40,208

630,571
71,996

739,094
62,777

224

224

566,242

646,959

800,805

1,439,948

18,420
1,346,232

20,142
2,107,704

54,026

64,679

60,918

121,025

234,679

286,206

353,669
90,448

410,508
104,712

556,077
87,462

1,014,506
170,168

859,857
162,668

203,098

25,531
42,568

25,531
41,529

32,531
63,817

224
134,025

89,028

0
1,618,400

398,863
238,164

402,081
201,110

494,026
310,470

1,060,719
545,194

1,011,724
494,734

1,710,480
986,866

160,699
64,000

200,971
80,000

183,556
60,000

515,525
100,000

516,990
43,899

723,614
44,131

0
0

0
0

64,000

80,000

60,000

100,000

0
43,899

0
44,131

402,041
54,057

671,028
54,057

749,136
54,057

878,978
54,057

980,964
54,057

1,150,001
56,499

54,057
0
347,984

54,057
0
616,971

54,057
0
695,079

54,057
0
824,921

54,057
0
671,907
259
488,991

56,499
0
844,000
259
568,991

255,000

249,502

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

5,630,385
5,630,385

6,189,135
6,189,135

269,049
154,905

262,237
136,918

365,633
190,161

361,265
182,586

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

154,905

136,918

190,161

182,586

5,009,813
4,397,285
612,528
620,572
360,041
237,235
122,806

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,019,826

1,456,782

1,622,511

1,707,921

1,903,739

1,890,012

2,077,121

2,617,104

2,871,897

3,104,101

226,566
3,170,187

75,767
3,444,393

1,019,272
73,437

1,456,300
107,319

1,622,245
116,509

1,707,791
155,226

1,667,662
126,555

1,801,390
144,210

554

482

266

130

50

21

1,683,335

1,936,617

1,893,824

2,301,295

9,461
2,062,500

12,834
2,923,361

79,556

78,975

78,397

100,579

146,292

99,710

880,196
322,341

1,012,679
409,711

907,208
467,470

1,051,835
639,921

725,690
680,286

1,372,150
856,577

2,487
398,755

0
435,252

0
440,749

0
508,960

0
510,232

0
594,924

910,918
263,883

1,479,734
631,543

1,778,636
889,136

2,434,449
1,472,952

2,383,332

2,996,257

647,035
389,823

848,191
466,846

889,500
499,026

961,497
352,599

2,383,332
470,563

2,996,257
486,446

486,446

389,823

466,846

499,026

352,599

0
470,563

1,402,420
597,713

1,446,819
597,717

1,238,673
597,713

1,222,168
597,713

1,112,344
597,713

1,330,670
597,713

597,713
0
804,707

597,717
0
849,102

597,713
0
640,960

597,713
0
624,455

597,713
0
514,631

597,713
0
732,957

514,631

732,957

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

5,351,341
5,351,341

6,355,293
6,355,293

583,484
264,442

521,470
253,547

467,918
267,708

510,319
381,692

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

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

5,389,956
3,826,115
1,563,841
965,337
345,850
206,641
139,209

495,170
300,830
295,995
(142,270)
(32,446)

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

2006

2007

2008

230,383

1,033,099

1,120,100

1,028,798

1,115,744

1,575,202

351,671

1,114,955

1,238,463

1,159,504

450
1,163,663

1,601,688

230,383
8,532

1,033,099
15,750

1,120,100
32,082

1,028,798
5,205

1,018,536
15,319

1,476,350
17,993

1,400

442
1,400

552,535

1,189,838

1,166,258

1,113,413

95,358
807,697

97,010
1,256,795

1.Issued, Subscribed & Paid up capital

i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2,170

262,436

128,467

22,939

21,510

149,688

370,542
33,224

695,713
4,389

649,269
83,457

468,052
56,903

373,852
103,203

711,728
84,771

93,350
53,249

93,091
134,209

1,400
303,665

91,173
474,346

0
309,132

0
310,608

1,008,120
163,361

1,092,938
318,934

994,851
88,638

839,021
98,328

747,543

1,078,177

844,759
0

774,004
0

906,213
15,226

740,693
8,165

747,543
18,971

1,078,177
69,604

69,604

15,226

8,165

0
18,971

(225,202)
65,553

1,129,999
65,553

1,276,281
213,045

1,295,025
213,045

1,156,927
213,044

1,684,216
213,044

65,553
0
(290,755)

65,553
0
1,064,446

213,045
0
1,063,236

213,045
0
1,081,980

213,044
0
(129,314)

213,044
0
9,598

(129,314)

9,598

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

88,780
85,380

225,703
52,689

305,198
95,616

143,027
96,969

E.Shareholders Equity (E1+E2+E3)

(Thousand Rupees)
2009
2010

2005

1,073,197

1,461,574

1,313,808
1,313,808

2,086,520
2,064,367
22,153
1,789,728
1,733,298
56,430
296,792
124,225
71,469
52,756

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

1,184,506
1,081,976
102,530
129,302
200,899
48,596
152,303

0
224,484

69,831
57,779
52,774
117,928
17,635
0
0
319,801

1,303,190
0
16,464
98,328

1,175,898
0
(143,369)
0

1,753,820
0
100,293
0

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

8,924

18,556

26,678

28,060

(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

(225,202)
0
(9,168)
163,361

1,129,999
0
504,217
318,934

1,291,507
0
122,691
88,638

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

58,224
83,506
81,048
(140,427)
2,942

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

H.Key Performance Indicators

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,024,982

979,152

952,316

922,501

1,819,674

1,813,379

1,210,824

1,263,729

1,330,546

1,393,641

8,476
1,393,655

1,655,251

1,024,982
96,025

978,526
99,366

951,897
96,277

922,220
95,239

89,441

67,541

626

419

281

188
278,855

375
305,064

1,633,861

1,881,818

1,446,303

2,178,816

1,532,155
1,572,422

1,507,940
1,547,103

41,243

36,567

49,009

206,977

36,293

72,570

1,323,055
46,393

1,346,001
342,112

772,798
0

789,663
522,550

1,053,749
283,402

1,063,893
234,671

0
223,170

0
157,138

23,239
601,257

307,510
352,116

0
198,978

0
175,969

1,347,188
286,537

1,672,856
729,666

1,260,472
418,409

1,635,241
148,407

1,480,268
618,819

1,421,358
665,468

1,060,651
521,995

943,190
329,747

842,063
117,831

1,486,834
0

861,449
209,202

755,890
325,391

521,995

329,747

117,831

0
209,202

325,391

789,660
450,025

858,367
450,025

1,020,316
450,025

1,466,076
450,025

1,702,626
450,025

1,613,733
450,025

450,025
0
339,635

450,025
0
408,342

450,025
0
570,291

450,025
0
1,016,051

450,025
0
248,225

450,025
0
183,176

248,225

183,176

1,004,376

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

2,283,238
1,895,009
388,229
119,379
109,903
29,916
79,987

177,488
344,953
158,485
(484,565)
172,392

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

23,758

42,851

47,291

71,286

14,549
670

32,670
992

34,947
2,345

55,119
3,822

20,686
4,519

24,764
4,078

55,184

56,978

109,551

328,457

34,256
286,847

43,654
363,800

47,623

8,020

22,906

6,096

8,603

26,192

1,206
4,805

7,516
0

31,265
34,861

80,192
143,034

68,426
146,080

85,042
177,022

0
1,550

0
41,442

0
20,519

0
99,135

0
63,738

0
75,544

1,740
0

21,622
0

15,898
0

239,442
155,962

243,419
75,030

313,615
85,394

1,740
0

21,622
0

15,898
0

83,480
14,400

168,389
10,800

228,221
7,200

7,200

68,418

14,400

0
10,800

67,993
100,000

68,026
100,000

128,600
200,000

129,734
200,000

87,570
200,000

111,403
200,000

100,000
0
(32,007)

100,000
0
(31,974)

200,000
0
(71,400)

200,000
0
(70,266)

200,000
0
0
0

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

(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

352,886
343,744
9,142
28,813
28,783
15,197
13,586

7,451
17,863
17,487
(42,166)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

833,677

865,244

890,313

954,034

977,628

949,759

1,132,668

1,233,917

1,321,167

1,475,561

11,295
1,464,266

25,192
1,502,603

831,265
54,827

864,530
76,569

887,117
81,459

948,535
119,932

937,240
119,932

893,401
97,122

2,412

714

3,196

5,499

5,499

2,688

2,333,333

3,277,376

4,021,218

4,053,012

23,594
4,029,418

28,478
4,793,612

57,993

118,297

260,915

70,206

70,206

63,263

1,790,708
323,086

2,381,286
503,226

2,533,159
816,386

2,398,605
1,135,332

2,398,605
1,135,332

2,949,130
906,272

0
161,546

0
274,567

0
410,758

0
448,869

0
425,275

0
874,947

1,684,836
3,295

2,423,535
266,118

2,738,296
4,299

3,061,501
1,355,557

3,017,057
1,355,557

3,885,809
494,204

1,681,541
9,310

2,157,417
5,691

2,733,997
0

1,705,944
0

1,661,500
44,444

3,391,605
81,787

9,310

5,691

945
43,499

49,787
32,000

1,472,864
124,006

1,713,394
124,006

2,173,235
124,006

1,945,545
124,006

1,945,545
124,006

1,775,775
124,006

124,006
0
1,348,858

124,006
0
1,589,388

124,006
0
2,049,229

124,006
0
1,821,539

124,006
0
1,544,049

124,006
0
1,379,973

1,544,049

1,379,973

277,490

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

290,988

347,021

477,469

626,499

10,871,886
9,518,258
1,353,628
1,279,135
654,391
427,669
226,722

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

694,003

2,359,155

4,340,700

4,009,909

6,012,350

5,434,463

1,649,170

3,413,309

5,639,039

5,757,451

19,226
7,371,727

21,813
7,371,044

678,076
146,411

2,325,953
142,891

4,274,797
142,891

3,945,273
464,172

5,190,535
522,267

4,445,810
756,288

15,927

33,202

65,903

64,636

195,830

125,988

11,098,780

6,815,120

3,964,417

2,806,835

606,759
3,929,738

840,852
3,526,804

5,873,987

360,169

219,859

231,880

20,487

82,046

3,159,153
0

4,169,120
0

2,704,946
0

1,612,696
0

2,954,091

2,329,161

758,419
1,307,221

1,143,882
1,141,949

0
1,039,612

0
962,259

0
955,160

0
1,115,597

9,698,369
9,693,653

5,802,400
1,788,206

3,906,115
583,333

3,087,066
0

5,614,243
2,151,601

5,652,289

4,716
0

4,014,194
666,667

3,322,782
1,958,334

3,087,066
500,000

3,462,642
1,500,000

5,652,289
1,333,333

1,500,000

1,333,333

666,667

1,958,334

500,000

0
0

2,094,414
420,000

2,705,208
420,000

2,440,668
714,000

3,229,678
1,428,000

2,827,845
1,428,000

1,975,645
1,428,000

420,000
0
1,674,414

420,000
0
2,285,208

714,000
0
1,726,668

1,428,000
0
1,801,678

1,428,000
0
1,399,845

1,428,000
0
547,645

1,399,845

547,645

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

14,149,646
14,149,646

15,854,142
15,854,142

283,035
215,640

1,167,514
365,319

99,934
426,677

627,494
353,815

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

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

16,093,687
13,357,356
2,736,331
(239,545)
319,675
124,916
194,759

348,360
222,769
818
(622,285)
220,452

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

998,887

1,716,590

2,093,852

4,033,762

3,970,204

3,347,025

2,934,976

4,026,659

4,763,379

7,078,037

29,524
7,600,115

62,916
7,771,602

988,342
290,518

1,710,467
399,673

2,090,284
381,476

4,033,762
473,894

3,900,977
786,270

3,257,960
861,510

10,545

6,123

3,568

3,972

3,457

11,195,630

14,105,878

13,571,198

9,714,347

35,731
16,715,319

22,692
23,791,253

6,719,999

7,416,180

8,543,263

4,328,585

9,731,166

15,755,980

3,168,855
384,511

3,959,316
738,281

2,859,951
665,647

2,637,629
1,332,832

4,088,858
1,736,631

5,198,367
1,613,247

0
922,265

0
1,992,101

0
1,502,337

0
1,415,301

0
1,158,664

0
1,223,659

7,667,951
27,925

9,560,718
5,735

7,621,075
3,714

4,311,769
0

9,884,850
5,926,529

14,224,866
8,076,281

7,640,026
11,957

9,554,983
3,871

7,617,361
0

4,311,769
0

3,958,321
503,700

6,148,585
325,797

325,797

11,957

3,871

0
503,700

4,514,609
786,000

6,257,879
786,000

8,043,975
786,000

9,436,340
786,000

10,296,973
786,000

12,587,615
786,000

786,000
0
3,728,609

786,000
0
5,471,879

786,000
0
7,257,975

786,000
0
8,650,340

786,000
0
9,504,861
196,500
7,923,250

786,000
0
11,769,264
196,500
8,522,350

6,112

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

758,571

969,119

1,123,718

1,090,850

35,540,418
29,769,541
5,770,877
2,324,186
978,713
469,985
508,728

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

238,783

287,473

631,678

495,202

1,231,991

1,435,960

654,746

716,925

1,067,624

946,953

104,335
936,692

157,748
987,911

238,783
35,072

279,210
29,963

615,151
29,694

478,174
34,123

439,208
53,996

446,997
55,622

8,263

16,527

17,028

30,208
381,662

29,357
525,467

6,084,019

7,166,069

5,632,646

6,772,594

276,578
5,758,836

276,391
10,737,359

297,843

263,139

122,142

249,358

1,010,689

1,143,880

2,314,457
133,435

2,283,929
0

1,840,082
275,953

1,636,153
102,660

2,110,211
148,677

2,520,520
483,605

2,583,103
755,181

3,837,899
781,102

2,780,664
613,805

3,420,398
1,364,025

1,173,439
1,315,820

4,116,821
2,472,533

4,298,281
0

4,982,723
0

3,567,744
20,406

4,228,917
0

3,379,931

7,587,912

4,298,281
0

4,982,723
0

3,547,338
0

4,228,917
0

3,379,931
51,950

7,587,912
18,813

18,813

0
51,950

2,024,521
120,141

2,470,819
156,183

2,696,580
187,420

3,038,879
187,420

3,558,946
234,275

4,566,594
292,844

120,141
0
1,904,380

156,183
0
2,314,636

187,420
0
2,509,160

187,420
0
2,851,459

234,275
0
3,324,671

292,844
0
4,273,750

3,324,671

4,273,750

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

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

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

291,405

354,760

619,387

670,881

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,450,957

3,765,970

4,744,930

4,962,244

5,228,101

4,937,232

6,695,294

7,695,336

9,717,231

10,881,196

891,947
10,899,732

272,143
11,944,291

3,327,486
569,122

3,532,985
903,939

4,358,151
1,084,378

4,578,436
965,864

3,792,724
11,883

3,954,439
71,692

123,471

232,985

386,779

383,808

347,732
4,449

505,760
5,413

15,296,884

18,284,415

16,456,407

11,993,899

191,249
12,427,633

199,477
14,313,132

9,647,023

8,043,617

5,484,052

2,499,142

3,545,621

2,917,186

4,968,054
0

9,232,672
126,292

9,184,385
185,739

7,732,518
286,697

6,879,729
376,508

8,748,031
240,719

266,932
414,875

280,552
601,282

143,301
1,458,930

4,449
1,471,093

0
1,625,775

0
2,407,196

10,863,408
0

11,131,352
0

7,224,302
0

2,803,462
0

3,325,134
80,000

4,752,449
50,000

10,863,408
0

11,131,352
0

7,224,302
0

2,803,462
0

3,245,134
5,000

4,702,449
0

0
5,000

7,884,433
540,444

10,919,033
540,444

13,977,035
823,000

14,152,681
823,000

14,325,600
822,999

14,497,915
822,999

540,444
0
7,343,989

540,444
0
10,378,589

823,000
0
13,154,035

823,000
0
13,329,681

822,999
0
13,502,601
0
13,502,601

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

26,234,061
26,234,061
0
25,679,728
22,161,224
3,503,538
554,333
748,464
214,550
533,914

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

671,213

1,249,700

1,256,194

887,873

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

89,376

106,156

127,681

211,667

224,755

234,100

134,206

163,107

176,096

288,949

4,555
312,039

8,243
331,549

89,376
8,267

103,363
8,906

125,334
9,917

209,943
12,404

218,279
15,669

222,297
16,321

2,793

2,347

1,724

1,105

945

106,090

149,206

242,269

469,177

816
381,991

2,615
521,752

621

773

18,383

11,951

19,832

8,880

59,845
22,338

79,307
41,489

125,159
43,643

193,318
202,015

194,767
96,342

308,230
89,003

0
23,286

0
27,637

0
55,084

0
61,893

0
71,050

0
115,639

94,694
29,567

122,907
29,863

186,218
12,881

366,726
75,617

247,501

344,115

65,127
13,717

93,044
9,805

173,337
13,788

291,109
16,698

247,501
47,595

344,115
52,083

52,083

13,717

9,805

13,788

16,698

0
47,595

87,055
71,630

122,650
71,630

169,944
78,793

297,420
86,672

311,650
104,007

359,654
124,808

71,630
0
15,425

71,630
0
51,020

78,793
0
91,151

86,672
0
210,748

104,007
0
207,643

124,808
0
234,846

207,643

234,846

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

952,540
952,540

1,823,974
1,823,974

45,685
14,227

78,263
21,633

122,081
34,504

302,948
82,830

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

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

1,638,034
1,446,013
192,021
185,940
95,423
40,380
55,043

104,953
15,338
12,361
25,948
11,718

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

115,667

122,843

122,141

146,816

178,178

50,379
5,156

50,472
5,399

54,943
5,915

49,131
5,724

63,550
5,310

155,647
7,598

193

174

119

65

143

111

54,218

53,445

42,393

54,558

19,967
82,676

14,097
79,202

319

199

668

156

701

570

5,814
15,466

6,587
13,480

6,814
15,329

8,822
13,695

23,590
29,379

37,398
14,628

13,635
18,984

15,800
17,379

0
19,582

0
31,885

0
29,006

0
26,606

87,604
28,623

84,733
18,875

106,498
23,634

118,913
25,307

100,521

104,830

58,981
48,198

65,858
55,772

82,864
57,901

93,606
59,875

100,521
77,912

104,830
80,676

80,676

169,855

48,198

55,772

57,901

59,875

0
77,912

(31,012)
45,000

(36,414)
45,000

(66,944)
45,000

(75,034)
45,000

(12,097)
117,000

63,551
117,000

45,000
0
(76,012)

45,000
0
(81,414)

45,000
0
(111,944)

45,000
0
(120,034)

117,000
0
(129,097)

117,000
0
(102,034)

(129,097)

(102,034)

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

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

96,861
39,010
57,851
13,488
14,707
2,442
12,265

28,203
8,691
6,854
5,875
1,994

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

229,579,264

235,217,495

289,962,821

334,178,737

427,133,881

529,582,023

399,278,046

423,426,276

440,117,238

499,510,987

68,269,200
522,409,737

69,389,747
629,709,183

228,164,374
19,238,395

232,480,628
20,364,090

261,009,820
18,638,554

293,884,018
19,507,057

283,705,660
21,455,386

373,764,770
24,025,375

1,414,890

2,736,867

28,953,001

40,294,719

55,693,547
4,174,812

66,359,188
4,437,396

165,072,662

189,477,823

210,920,033

270,058,175

15,290,662
355,153,898

15,630,922
470,224,751

63,492,079

33,909,069

33,511,123

25,961,514

13,817,661

19,266,441

5,015,600
56,744,527

4,353,984
66,965,399

10,717,470
94,961,392

5,761,004
152,358,124

6,889,728
228,130,154

6,735,431
339,631,668

2,726,440
37,094,016

35,333,608
48,915,763

4,028,871
67,701,177

4,132,223
81,845,310

120,176
106,196,180

197,272
104,393,939

131,549,327
13,609,834

181,872,022
14,407,747

235,805,753
29,907,507

326,673,387
55,475,924

295,419,452
39,971,658

405,645,386
61,562,083

117,939,493
38,895,223

167,464,275
28,584,135

205,898,246
47,042,236

271,197,463
59,003,007

255,447,795
251,304,374

344,083,304
285,114,790

64,135,211

72,616,789

416,330

3,007,686

980,000

55,295,795
782,500

48,517,863
567,500

38,478,893

28,584,135

44,034,550

58,023,007

9,538,029
121,552,839

11,002,564
152,410,074

224,207,376
127,105,780

214,239,161
127,105,780

218,034,865
135,460,347

218,560,518
137,128,510

235,563,953
139,981,198

309,046,598
163,874,959

127,105,780
0
97,101,596

127,105,780
0
87,133,381

130,951,046
4,509,301
82,574,518

131,145,103
5,983,407
81,432,008

133,997,791
5,983,407
94,617,489
19,241,333
75,725,708

157,891,552
5,983,407
112,885,645
13,088,601
100,146,596

965,266

32,285,994

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

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

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

26,659,755

32,136,186

40,126,193

53,069,684

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

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

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

2009

2010

10

22.3
18.9
12.3 11.4

8
4.85 4.72

6
4
2

Return on
Return on
Assets
Equity

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
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

385,533

400,789

23,219,193

25,078,379

26,978,647

26,513,107

574,136

624,699

24,142,705

27,127,736

22,775
38,235,448

0
38,713,878

385,233
39,366

400,789
35,517

23,219,193
699,633

25,078,379
1,166,085

26,955,013
1,338,158

26,510,724
1,364,059

300

0
0

0
0

68,755

220,840

5,006,531

5,591,281

859
6,560,502

2,383
7,251,001

9,200

56,315

1,740,881

1,072,324

1,819,418

322,101

0
0

0
0

277,175
2,436,594

354,962
0

322,818
3,958,616

318,057
5,983,422

0
59,555

0
164,525

0
551,881

0
4,163,995

0
459,650

0
627,421

278,558
108,480

619,617
101,218

5,502,253
2,296,568

7,311,996
2,965,607

5,355,599
2,845,914

4,166,756
1,849,721

170,078
57,291

518,399
0

3,205,685
15,528,049

4,346,389
15,670,495

2,509,685
19,034,633

2,317,035
18,216,586

14,256,014

13,259,416

3,508,238
0

3,414,974
0

57,291

15,528,049

15,670,495

13,228
1,257,153

300
1,541,896

118,439
221,000

2,012
221,000

7,195,422
3,425,500

7,687,169
3,425,500

9,148,917
3,425,500

11,380,766
3,425,500

221,000
0
(102,561)

221,000
0
(218,988)

3,425,500
0
3,769,922

3,425,500
0
4,261,669

3,425,500
0
5,723,417
3,040,959
2,682,458

3,425,500
0
7,955,266
4,031,698
3,923,568

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

15,541,603
15,541,603
0
10,597,057
7,659,761
2,937,296
4,944,546
257,067
0
257,067

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

37,522

35,995

13,166

107,406

(101,482)
0
0
0

(113,234)
1,624
0
0

(73,159)
525
0
0

1,131,148
455
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

555,791

486,420

486,420

387,503

387,503

387,503

609,924

1,105,803

1,105,803

1,061,214

0
1,061,214

0
1,061,214

555,791
53,333

486,420
45,517

486,420
45,517

387,503
37,955

387,503
37,955

387,503
37,955

251,492

210,581

210,583

183,995

183,995

183,995

762

2,437

2,437

1,200

1,200

1,200

24,628
167,432

9,083
149,860

9,083
149,860

0
144,606

0
144,606

0
144,606

0
58,670

0
49,201

0
49,203

0
38,189

0
38,189

0
38,189

458,638
360,744

550,883
403,831

550,883
403,831

648,298
410,634

648,298
410,634

648,298
410,634

97,894
165,193

147,052
111,725

147,052
111,727

237,664
74,752

237,664
74,752

237,664
74,752

165,193

111,725

111,727

74,752

74,752

74,752

183,452
198,000

34,393
198,000

34,393
198,000

(151,552)
198,000

(151,552)
198,000

(151,552)
198,000

198,000
0
(14,548)

198,000
0
(163,607)

198,000
0
(163,607)

198,000
0
(349,552)

198,000
0
(349,552)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

140,413

138,324

134,616

130,525

126,504

131,289

358,765

360,127

360,667

360,435

0
360,435

0
369,120

140,413
15,521

138,324
4,392

134,616
4,249

130,525
4,133

126,494
4,031

131,278
3,944

0
0

0
0

163,863

92,210

81,198

73,406

11
57,993

11
45,025

2,939

2,221

1,475

3,315

205

268

5,292
131,223

5,515
60,643

5,606
50,077

6,408
37,156

0
34,214

0
12,087

0
24,409

0
23,831

0
24,040

0
26,527

0
23,574

0
32,670

59,245
27,500

8,899
0

2,993
0

7,097
0

3,972
0

6,403
0

31,745
0

8,899
0

2,993
0

7,097
0

3,972
1,909

6,403
1,928

0
0

0
0

1,909
0

1,928
0

245,031
80,000

221,635
80,000

212,821
80,000

196,834
80,000

178,616
80,000

167,983
80,000

80,000
0
165,031

80,000
0
141,635

80,000
0
132,821

80,000
0
116,834

80,000
0
98,616
80,000
18,616

80,000
0
87,983
80,000
7,983

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

4,810

2,852

2,653

2,969

21,776
21,776
0
36,925
30,290
6,635
(15,149)
3,052
0
3,052

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

(7,729)
85
0
0

(19,886)
3
0
0

(8,814)
0
0
0

(15,987)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,703,224

6,007,210

5,749,899

5,515,728

5,316,919

5,063,299

6,929,166

6,912,555

7,448,275

7,465,490

30,895
7,484,969

34,312
7,485,426

5,703,224
237,831

6,007,210
236,775

5,749,899
253,390

5,515,728
232,900

5,285,924
236,290

5,028,887
236,775

0
0

0
0

530,572

1,130,451

1,247,471

1,600,415

100
1,112,711

100
2,534,865

4,859

4,004

7,698

20,898

24,846

220,703

70,034
92,451

208,935
540,946

93,239
764,455

131,696
865,226

105,484
680,994

179,811
1,637,546

0
363,228

0
376,566

0
382,079

0
582,595

0
301,387

0
496,805

900,682
383,419

1,187,568
212,786

1,336,089
239,952

1,627,703
329,702

1,905,488
693,192

3,900,197
1,064,225

517,263
4,996,034

974,782
5,194,486

1,096,137
5,122,309

1,298,001
5,027,950

1,212,296
4,656,161

2,835,972
4,280,816

4,650,516

4,273,083

0
0

0
0

4,996,034

5,194,486

5,122,309

5,027,950

0
5,645

0
7,733

337,080
1,332,000

755,607
1,332,000

538,972
1,476,188

460,490
1,476,188

(132,019)
1,560,376

(582,849)
1,560,376

1,332,000
0
(994,920)

1,332,000
0
(576,393)

1,476,188
0
(937,216)

1,476,188
0
(1,015,698)

1,560,376
0
(2,173,108)
935
(2,174,043)

1,560,376
0
(2,603,202)
2,457
(2,605,659)

480,713

459,977

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

3,505,758
3,505,758
0
3,281,624
2,808,947
472,677
224,134
71,447
0
71,447

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

62,151

218,058

29,096

41,783

(89,866)
221
0
0

(268,251)
326
0
0

(216,444)
191
0
0

(162,113)
557
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

41,864,330

42,072,040

50,769,714

63,937,175

83,017,723

141,726,381

81,967,018

85,463,604

86,197,282

113,657,583

23,222,543
111,617,048

20,567,238
177,276,395

41,864,330
3,345,006

42,072,040
3,412,759

50,769,714
3,329,498

63,905,168
3,507,780

58,971,309
2,985,691

120,865,072
4,053,630

32,007

20,566
0

37,602
0

18,174,544

23,459,304

26,551,325

29,138,502

803,305
48,918,076

256,469
65,903,117

2,445,832

1,834,657

3,937,319

2,334,148

1,127,644

1,189,424

0
8,446,002

0
7,682,994

4,668,113
8,640,510

0
12,415,794

0
19,114,219

0
29,029,574

0
7,282,710

890,476
13,051,177

607,717
8,697,666

100,259
14,288,301

0
28,676,213

0
35,684,119

21,930,896
0

36,251,055
3,600,000

54,501,903
9,391,696

78,161,622
6,254,750

60,261,038
12,919,678

93,497,025
14,151,296

21,930,896
0

32,651,055
0

45,110,207
1,136,813

71,906,872
7,994,591

47,341,360
71,757,040

79,345,729
82,831,568

1,136,813

38,107,978
46,084,762

29,280,289
46,084,762

46,084,762
0
(7,976,784)

476,063

158,688

44,841,769
0

39,130,414
0

7,994,591

5,325,528
21,113,680

5,767,124
37,775,342

21,682,323
50,594,063

6,919,464
52,068,169

(82,279)
52,068,169

31,300,905
74,966,045

46,084,762
0
(16,804,473)

46,084,762
4,509,301
(28,911,740)

46,084,762
5,983,407
(45,148,705)

46,084,762
5,983,407
(52,635,001)
8,679,810
(61,314,811)

68,982,638
5,983,407
(75,491,157)
509,172
(76,000,329)

484,553

31,826,017

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

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

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

4,718,854

6,231,376

5,430,785

15,021,549

(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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

4,823,628

4,681,985

4,796,146

4,597,692

4,376,297

4,167,689

6,916,367

7,004,364

7,272,090

7,393,238

5,627
7,412,388

2,142
7,475,790

4,817,967
226,125

4,677,654
211,322

4,790,105
227,774

4,593,147
252,228

4,357,803
256,507

4,151,240
274,354

5,661

4,331

6,041

4,545

3,658
0

3,889
0

1,947,872

2,050,775

2,396,818

2,755,682

9,209
2,544,811

10,418
3,329,102

873,366

628,914

397,952

139,298

664,074

309,924

130,725
394,102

144,637
561,530

209,416
1,155,394

85,560
1,939,815

311,234
963,309

168,240
1,926,050

0
549,679

0
715,694

0
634,056

0
591,009

0
606,194

76,762
848,126

1,243,615
602,792

1,010,340
484,812

787,411
511,500

792,525
578,705

208,096
0

435,082
200,000

640,823
705,586

525,528
226,313

275,911
75,750

213,820
0

208,096
9,672

235,082
9,995

0
0

0
0

705,586

226,313

75,750

9,672
0

9,995
0

4,822,299
1,694,586

5,496,107
1,694,586

6,329,803
1,694,586

6,560,849
1,694,586

6,703,340
1,694,586

7,051,714
1,694,586

1,694,586
0
3,127,713

1,694,586
0
3,801,521

1,694,586
0
4,635,217

1,694,586
0
4,866,263

1,694,586
0
5,008,754
0
5,008,754

1,694,586
0
5,357,128
0
5,357,128

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

8,334,341
8,334,341
0
7,239,966
6,392,309
847,657
1,094,375
182,523
0
182,523

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

107,120

128,497

230,159

232,198

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

276,102

281,278

259,812

252,868

251,506

242,065

527,924

564,354

532,622

540,102

0
548,324

0
549,548

276,102
15,689

281,278
14,626

259,812
14,626

252,868
14,424

250,183
13,839

240,242
14,630

0
0

0
0

458,973

393,487

333,273

129,048

1,323
164,763

1,823
205,121

536

677

622

5,371

1,844

14,657

12,563
232,195

10,914
143,212

7,324
105,798

10,999
64,142

31,455
84,488

32,892
62,650

0
213,679

0
238,684

0
219,529

0
48,536

0
46,976

0
94,922

360,838
244,247

405,751
244,247

21,691
1,459

36,544
1,459

21,350
3,062

26,670
3,768

116,591
0

161,504
0

20,232
250,000

35,085
0

18,287
11,266

22,902
11,494

5,298

4,552

0
0

0
0

250,000

5,968
0

6,942
0

374,237
120,000

269,014
120,000

321,394
120,000

345,372
120,000

383,653
126,000

409,022
126,000

120,000
0
254,237

120,000
0
149,014

120,000
0
201,394

120,000
0
225,372

126,000
0
257,653
0
257,653

126,000
0
283,022
0
283,022

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

737,622
737,622
0
690,268
647,480
42,788
47,354
9,596
0
9,596

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

4,817

3,394

4,195

6,265

(25,951)
1
0
0

(101,149)
1
0
0

(36,806)
0
0
0

22,977
0
0
6,000

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

23,715,060

22,756,181

21,267,858

19,855,864

18,796,425

17,965,609

37,541,334

38,118,274

38,213,786

38,339,971

212,606
38,474,561

81,068
39,326,905

23,714,731
1,674,698

22,755,936
1,589,933

21,265,184
1,588,597

19,853,466
1,558,171

18,504,118
1,497,750

17,800,135
1,560,380

329

245

2,674

2,398

3,335
0

2,415
0

13,014,996

11,521,601

17,663,168

37,108,597

76,366
41,162,829

81,991
59,634,484

3,762,465

4,366,054

208,999

179,439

400,353

243,996

2,621,847
2,330,994

1,129,664
3,115,000

1,759,459
11,574,384

2,191,568
29,303,453

1,967,212
32,721,969

2,267,205
51,702,270

0
4,299,690

0
2,910,883

0
4,120,326

0
5,434,137

0
6,073,295

0
5,421,013

5,330,912
2,102,271

14,155,945
0

20,067,578
6,431,343

35,605,529
23,643,655

28,739,296
8,626,494

47,633,863
17,243,176

3,228,641
8,853,836

14,155,945
0

13,636,235
0

11,961,874
30,924

20,112,802
8,136,722

30,390,687
7,471,502

8,853,836

22,545,308
8,802,532

20,121,837
8,802,532

8,802,532
0
13,742,776

46,214

45,728

5,147,476
0

4,247,761
0

30,924

366,299
2,576,733

412,852
2,765,161

18,863,448
8,802,532

21,328,008
8,802,532

23,083,236
8,802,532

22,494,728
8,802,532

8,802,532
0
11,319,305

8,802,532
0
10,060,916

8,802,532
0
12,525,476

8,802,532
0
14,280,704
444,451
13,836,253

8,802,532
0
13,692,196
444,451
13,247,745

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

69,363,913
69,363,913
0
58,373,072
55,621,836
2,751,236
10,990,841
727,267
0
727,267

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

183,421

200,901

289,613

381,261

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,726,830

3,395,292

3,499,353

6,770,555

10,442,743

11,502,761

4,824,754

6,217,374

6,665,229

4,861,362

2,387,079
5,812,573

887,000
4,238,936

2,434,296
332,209

3,325,033
386,581

3,430,295
378,791

3,458,188
137,030

2,492,869
346,033

3,653,056
425,850

1,292,534

70,259

69,058

3,312,367

4,602,659
0

5,876,104
0

4,203,084

4,822,656

5,172,106

5,820,346

960,136
10,008,759

1,086,601
10,409,653

2,939,965

3,165,311

2,829,209

2,214,611

1,694,638

3,607,305

0
954,480

0
1,211,969

0
1,456,725

0
2,374,041

0
7,188,601

0
6,099,654

0
308,639

0
445,376

0
886,172

0
1,231,694

0
1,125,520

0
702,694

4,821,977
224,200

5,423,202
224,100

5,423,190
112,100

5,891,871
0

9,110,314
0

8,464,507
380,000

4,597,777
336,300

5,199,102
112,100

5,311,090
0

5,891,871
500,000

9,110,314
3,108,466

8,084,507
4,257,081

1,200,000

1,720,000

0
0

0
0

336,300

112,100

500,000

70,256
1,838,210

76,196
2,460,885

2,771,637
367,500

2,682,646
367,500

3,248,269
367,500

6,199,030
367,500

8,232,722
367,500

9,190,826
735,000

367,500
0
2,404,137

367,500
0
2,315,146

367,500
0
2,880,769

367,500
0
5,831,530

367,500
0
7,865,222
2,591,730
5,273,492

735,000
0
8,455,826
3,164,473
5,291,353

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

5,789,203
5,789,203
0
723,650
0
723,650
5,065,553
2,682,282
0
2,682,282

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

1,765,403

2,179,575

2,108,025

2,089,539

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

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

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

16,667,306

14,883,152
88,360

0
16,709,872

87,358
954

16,667,306
41,564

0
0

0
0

0
66,906

0
5,769,292

58,191

1,774,674

129
0

354,478
2,668,598

0
8,586

0
971,542

701,170
253,440

4,924,189
3,531,805

447,730
11,396,546

1,392,385
13,897,146

11,396,546

13,424,261

0
0

472,885
0

0
0

0
0

2,939,700
2,912,500

3,615,262
3,540,885

2,912,500
0
27,200
0
27,200

3,540,885
0
74,377
0
74,377

0
0
0
0
0
0
0
8,242
0
8,242

1,018,365
1,018,365
0
795,521
729,320
66,201
222,844
17,204
0
17,204

2,007
0
0
49,747
2,291
0
0
29,994

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

43,250,579

44,457,959

56,715,900

67,706,248

92,531,628

108,433,851

84,532,051

89,009,134

59,039,503

64,653,239

0
70,011,404

0
78,951,847

43,250,579
5,459,444

41,906,810
5,955,174

27,965,907
3,234,509

30,898,207
3,354,064

29,855,966
3,807,898

34,998,898
3,981,686

2,551,149

28,749,993

36,808,041

49,057,766
2,903,133

58,630,857
3,231,435

71,328,354

76,856,751

72,622,272

82,862,139

10,714,763
85,460,768

11,572,661
120,433,800

37,799,224

1,186,870

4,720,292

6,715,048

3,973,818

7,843,820

32,404
18,527,574

65,608
24,498,986

93,788
27,873,515

151,782
40,626,931

108,301
56,140,092

172,084
82,992,291

2,437,121
12,532,031

33,939,739
17,165,548

2,945,938
36,988,739

3,175,054
32,193,324

0
25,238,557

0
29,425,605

30,025,194
0

26,544,433
0

28,721,520
0

41,196,962
0

21,287,498
0

34,840,843
0

30,025,194
0

26,544,433
0

28,721,520
0

41,196,962
0

21,287,498
30,533,502

34,840,843
36,634,322

0
0

0
0

2,008,499
28,525,003

2,699,773
33,934,549

84,553,739
43,009,284

94,770,277
43,009,284

100,616,652
43,009,284

109,371,425
43,009,284

126,171,396
43,009,284

157,392,486
43,009,284

43,009,284
0
41,544,455

43,009,284
0
51,760,993

43,009,284
0
57,607,368

43,009,284
0
66,362,141

43,009,284
0
83,162,112
3,658,318
79,503,794

43,009,284
0
114,383,202
3,859,682
110,523,520

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

130,829,579
130,829,579
0
39,352,049
0
39,352,049
91,477,530
13,051,906
0
13,051,906

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

3,403,316

4,557,241

12,284,544

12,248,887

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

126,067

114,417

109,968

100,045

95,119

95,414

306,374

302,028

303,632

299,123

0
299,123

0
299,123

126,067
13,739

114,417
6,065

109,968
6,053

100,045
5,415

94,919
5,126

90,064
4,854

0
0

0
0

295,837

228,852

204,153

192,389

200
191,860

5,350
184,606

1,675

9,090

76

112

44

212

0
242,515

0
69,405

0
112,756

0
101,627

0
101,454

0
94,036

0
51,647

0
150,357

0
91,321

0
90,650

0
90,362

0
90,359

69,477
0

26,559
1,604

11,791
0

10,011
0

11,739
0

11,868
0

69,477
0

24,955
0

11,791
0

10,011
0

11,739
113

11,868
722

352,427
178,333

316,710
178,333

178,333
0
174,094

0
0

609
0

0
113

0
113

302,330
178,333

282,423
178,333

275,127
178,333

267,431
178,333

178,333
0
138,377

178,333
0
123,997

178,333
0
104,090

178,333
0
96,794
89,116
7,678

178,333
0
89,098
89,116
(18)

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

13,513

12,302

11,464

5,856

0
0
0
6,337
0
6,337
(6,337)
956
0
956

0
0
0
6,610
0
6,610
(6,610)
982
0
982
0
105
0
(7,696)
0
0
0
4,708

8,083
0
0
0

(34,380)
0
0
0

(14,380)
0
0
0

(19,906)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

418,361

540,466

607,294

547,279

615,134

533,052

790,765

759,669

1,041,679

1,059,971

0
1,633,737

0
918,882

370,936
46,724

498,042
63,614

567,044
72,756

513,452
77,626

456,620
77,175

387,181
17,658

47,425

42,424

40,250

33,827

29,094
2

24,361
2

305,206

379,583

279,033

314,437

129,418
266,930

121,508
202,590

7,538

40,447

5,159

52,621

193,499

126,929

11,308
10,260

17,242
17,404

71,190
3,233

22,094
4,320

25,763
2,696

25,645
5,525

2
276,098

37,002
267,488

2
199,449

2
235,400

0
44,972

0
44,491

472,484
83,166

684,358
188,043

623,687
118,065

560,440
25,892

108,159
0

134,738
0

389,318
0

496,315
0

505,622
75,000

534,548
75,000

108,159
475,470

134,738
252,139

75,000

0
0

0
0

75,000

75,000

0
400,470

0
252,139

251,083
26,952

235,691
26,952

187,640
32,343

226,276
226,400

298,435
226,400

348,765
226,400

26,952
0
224,131

26,952
0
208,739

32,343
0
155,297

226,400
0
(124)

226,400
0
72,035
90,000
(17,965)

226,400
0
122,365
90,000
32,365

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

1,239,600
1,239,600
0
992,825
903,521
89,304
246,775
194,803
93,457
101,346

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

137,629

217,096

206,100

206,326

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

891,437

992,104

2,105,173

2,204,561

2,323,286

2,492,038

1,537,695

1,678,936

2,829,988

2,987,972

20,669
2,119,623

141,647
2,226,749

891,437
47,491

992,104
44,522

2,105,173
39,966

2,204,561
60,428

1,372,794
73,641

1,303,458
80,832

0
0

0
63,403

856,514

1,103,674

756,331

1,095,286

929,823
1,162,222

983,530
1,127,173

6,068

7,240

2,957

26,217

24,627

13,387

112,087
427,527

45,187
385,137

41,649
220,311

169,252
359,979

123,266
473,570

156,419
405,120

50,000
260,832

50,000
616,110

50,000
441,414

0
539,838

1,380
539,380

1,715
550,532

741,091
679,052

1,042,374
888,862

1,009,867
836,873

1,168,255
959,713

1,460,646
1,206,170

1,571,813
1,296,945

62,039
46,200

153,512
85,791

172,994
882,845

208,542
1,075,711

254,476
949,505

274,868
867,727

167,005

300,227

20,000

980,000

0
782,500

0
567,500

46,200

85,791

862,845

95,711

0
0

0
0

960,660
190,920

967,613
190,920

968,792
190,920

1,055,881
190,920

1,075,357
190,920

1,179,671
190,920

190,920
0
769,740

190,920
0
776,693

190,920
0
777,872

190,920
0
864,961

190,920
0
884,437
141,646
742,791

190,920
0
988,751
141,780
846,971

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

3,026,399
3,026,399
0
2,565,292
2,551,158
14,133
461,107
62,419
0
62,419

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

32,364

36,099

40,183

61,337

(40,118)
276
47,730
0

7,351
315
0
0

1,518
339
0
0

93,359
396
47,730
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

6,514,590

6,973,878

6,887,497

7,039,634

7,327,682

7,206,036

7,946,487

8,655,628

8,817,999

9,251,853

0
9,838,573

0
10,034,059

6,514,590
248,377

6,973,878
249,923

6,887,497
249,643

7,039,634
283,461

7,327,682
320,801

7,206,036
327,961

0
0

0
0

994,830

731,210

909,978

924,528

0
1,920,860

0
4,251,691

11,444

21,842

99,307

41,159

4,499

39,824

156,096
328,543

55,313
113,423

75,364
90,428

34,747
404,783

79,279
1,617,302

304,181
3,465,551

0
498,747

0
540,632

0
644,879

0
443,839

0
219,780

0
442,135

2,197,898
1,813,650

2,304,949
1,784,147

3,152,195
1,951,208

3,184,128
2,023,457

4,175,540
2,455,893

7,017,455
3,274,988

384,248
2,858,010

520,802
2,925,621

1,200,987
2,465,886

1,160,671
2,898,402

1,719,647
3,044,608

3,742,467
2,359,196

3,023,297

2,331,321

0
0

0
0

2,858,010

2,925,621

2,465,886

2,898,402

21,244
67

27,875
0

2,453,512
1,366,758

2,474,518
1,366,758

2,179,394
1,366,758

1,881,632
1,366,758

2,028,394
1,366,758

2,081,076
1,366,758

1,366,758
0
1,086,754

1,366,758
0
1,107,760

1,366,758
0
812,636

1,366,758
0
514,874

1,366,758
0
661,636
0
661,636

1,366,758
0
714,318
0
714,318

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

1,911,237
1,911,237
0
903,706
484,967
418,739
1,007,531
240,771
0
240,771

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

82,253

86,454

87,170

102,863

62,542
0
18,376
0

37,519
0
0
0

(295,124)
0
0
0

(297,762)
0
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

40,448,733

43,568,193

50,053,930

62,194,617

79,211,266

87,462,235

71,281,060

78,406,554

89,298,101

106,078,443

14,949,539
113,137,882

16,553,986
124,929,930

40,448,733
3,646,644

43,561,473
4,218,128

50,036,217
4,583,427

62,165,176
4,929,339

63,395,893
5,971,105

69,819,093
6,917,950

6,720

17,713

29,441

270,845
4,900

355,290
4,900

24,627,626

33,668,376

33,596,928

35,453,026

590,089
43,340,696

728,966
50,959,702

8,315,084

15,400,518

13,546,228

8,137,148

1,316,877

2,009,122

346,382
14,195,231

445,772
14,517,536

473,404
16,229,067

525,370
18,757,385

783,362
25,706,362

741,128
42,874,560

4,900
1,766,029

4,900
3,299,650

4,978
3,343,251

515,996
7,517,127

0
15,534,095

0
5,334,892

38,580,843
2,254,509

60,178,793
2,559,650

66,698,883
1,286,584

77,728,331
1,561,895

52,595,572
1,013,358

61,339,744
1,000,000

36,326,334
3,473,672

57,619,143
1,949,084

65,412,299
662,500

76,166,436
2,780,463

51,582,214
53,808,874

60,339,744
58,380,114

3,473,672

1,949,084

662,500

23,021,844
4,991,866

15,108,692
4,991,866

4,991,866
0
18,029,978

1,798,312
0

1,251,220
0

2,780,463

392,249
51,618,313

453,628
56,675,266

16,289,475
5,491,053

17,138,849
5,491,053

16,147,516
5,491,053

18,702,079
5,491,053

4,991,866
0
10,116,826

5,491,053
0
10,798,422

5,491,053
0
11,647,796

5,491,053
0
10,656,463
0
10,656,463

5,491,053
0
13,211,026
0
13,211,026

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

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

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

9,515,419

11,146,236

12,246,368

14,134,052

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

21,702,060

24,956,154

31,395,913

33,877,137

39,521,329

42,924,835

43,963,090

49,246,982

57,756,020

61,543,598

3,537,669
64,620,923

4,750,415
69,404,439

21,641,128
2,175,681

24,899,887
2,226,382

31,333,811
2,248,374

33,807,564
2,215,489

34,557,963
2,772,817

36,915,188
2,957,777

60,932

56,267

62,102

69,573

43,891
1,266,777

4,510
1,137,656

15,980,433

22,123,547

30,523,976

37,825,767

115,029
61,032,671

117,066
67,834,860

1,269,203

3,814,642

5,267,639

4,356,367

1,477,224

620,956

227,318
8,754,927

281,362
10,898,343

368,903
16,118,951

512,383
20,045,028

490,539
32,568,205

455,415
43,815,667

166,525
5,562,460

257,237
6,871,963

236,818
8,531,665

157,494
12,754,495

118,796
26,377,907

118,795
22,824,027

19,302,429
1,665,126

27,108,774
2,684,236

39,720,789
3,257,266

45,805,157
2,414,615

57,923,004
4,969,490

66,631,297
8,755,336

17,637,303
7,166,330

24,424,538
8,725,052

36,463,523
12,460,197

43,390,542
15,582,621

52,953,514
32,947,402

57,875,961
30,055,980

17,496,775

11,644,780

416,330

2,987,686

0
0

0
0

6,750,000

8,725,052

9,472,511

15,582,621

1,308,176
14,142,451

1,530,262
16,880,938

11,213,734
6,711,743

11,245,875
6,711,743

9,738,903
6,711,743

10,315,126
6,711,743

9,683,594
6,711,743

14,072,418
6,711,743

6,711,743
0
4,501,991

6,711,743
0
4,534,132

6,711,743
0
3,027,160

6,711,743
0
3,603,383

6,711,743
0
2,971,851
328,681
2,643,170

6,711,743
0
7,360,675
318,357
7,042,318

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

6,329,966

6,749,199

6,882,423

8,128,793

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

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

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

34,939,507

33,324,680

31,861,785

33,940,577

40,843,660

56,067,554

48,410,041

48,733,023

48,914,567

52,652,367

8,996,646
49,653,152

26,371,939
49,737,070

34,931,885
1,647,753

33,319,208
1,652,669

31,856,615
1,657,043

33,938,057
1,665,821

29,225,249
1,709,616

27,609,409
1,723,516

7,622

5,472

5,170

2,520

1,661,733
0

1,424,160
0

11,696,228

10,190,712

13,131,730

28,756,172

960,032
50,996,546

662,046
69,964,674

6,038,136

3,363,306

742,861

662,226

1,034,660

927,940

1,251,045
1,444,237

1,890,864
2,938,436

2,563,757
7,936,783

1,564,183
24,871,327

2,540,887
46,629,457

1,559,876
66,712,461

0
2,962,810

0
1,998,106

0
1,888,329

0
1,658,436

0
791,542

0
764,397

4,729,730
3,037,544

4,279,966
979,062

7,670,092
3,069,062

26,933,980
14,305,840

50,902,674
4,574,332

70,394,638
8,400,189

1,692,186
10,229,283

3,300,904
9,250,221

4,601,030
8,271,160

12,628,140
7,292,098

46,328,342
11,357,733

61,994,449
25,511,722

11,342,483

25,454,733

0
0

0
0

10,229,283

9,250,221

8,271,160

7,292,098

15,001
249

15,689
41,300

31,676,722
11,571,544

29,985,205
11,571,544

29,052,263
11,571,544

28,470,671
11,571,544

29,579,799
11,571,544

30,125,868
11,571,544

11,571,544
0
20,105,178

11,571,544
0
18,413,661

11,571,544
0
17,480,719

11,571,544
0
16,899,127

11,571,544
0
18,008,255
95,687
17,912,568

11,571,544
0
18,554,324
357,415
18,196,909

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

82,783,924
82,783,924
0
76,687,113
71,894,694
4,792,419
6,096,811
415,046
0
415,046

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

194,244

280,729

252,919

288,770

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

157,578,182

204,377,810

224,340,744

286,143,105

403,460,952

389,520,508

300,737,136

360,922,412

397,263,273

450,551,828

21,454,052
585,095,108

25,705,519
585,180,203

147,102,289
17,174,291

191,909,682
17,548,525

210,744,172
21,330,151

272,151,792
26,391,984

344,557,079
34,305,274

320,310,801
33,434,626

10,475,893

12,468,128

13,596,572

13,991,313

18,366,996
1,874,944

17,242,971
2,004,657

99,654,184

108,736,839

107,415,911

103,298,100

17,207,881
117,855,822

24,256,560
104,820,583

20,661,591

36,698,344

38,268,676

26,996,242

30,078,700

21,608,425

103,595
22,529,682

56,517
24,848,616

8,409,092
21,438,677

302,057
22,483,032

5,226,494
29,627,402

4,832,409
29,883,615

24,802,777
31,556,539

17,777,643
29,355,719

19,269,627
20,029,839

17,364,583
36,152,186

27,593,325
25,329,901

16,668,577
31,827,557

61,852,453
11,231,600

94,258,602
28,151,886

112,998,819
37,477,269

177,786,010
50,162,531

170,635,808
27,264,391

194,521,668
37,063,962

50,620,853
44,155,779

66,106,716
68,147,372

75,521,550
79,985,168

127,623,479
113,669,876

143,371,417
212,124,145

157,457,706
191,272,963

51,873,072

37,546,259

16,552,976

15,395,920

12,715,394

16,796,573

7,625,250
23,015,433

8,465,555
19,673,553

27,602,803

52,751,452

67,269,774

96,873,303

32,903,524
96,706,866

40,369,858
85,217,738

151,224,134
84,046,807

150,708,675
86,760,141

138,772,668
91,991,094

97,985,319
92,622,082

138,556,821
97,436,264

108,546,460
104,200,151

83,866,807
180,000
67,177,327

86,580,141
180,000
63,948,534

90,471,099
1,519,995
46,781,574

92,442,082
180,000
5,363,237

97,428,764
7,500
1,240,759
5,973,338
(4,732,579)

104,192,651
7,500
(17,723,404)
5,859,765
(23,583,169)

39,879,798

22,069,713

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

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

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

40,740,376

41,363,114

45,149,053

89,866,684

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

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

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

10%

Billion Rs

450
400
350
300
250
200
150
100
50
0

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

10

5
5.47

6
4

4.34

2.84
1.43

2.32

3.47

2.70

2.74

2
1

Return on
Return on
Assets
Equity

2009

2010

2010

Percentage

Percentage

5.46

2009

Net Profit Before Tax

0.77
0.17

0.69 0.56

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

130,539

137,954

173,856

185,498

420,398

489,762

128,571

154,288

218,117

260,051

6,348
323,401

2,277
354,098

117,154
11,501

126,922
20,380

164,689
26,061

177,320
29,304

211,094
29,803

206,265
45,113

13,385

11,032

9,167

8,178

8,092
0

10,294
0

128,107

391,476

521,213

839,972

194,864
778,540

270,926
996,774

29,039

12,065

31,248

63,996

63,856

137,357

341
17,098

59
160,465

101,787
245,087

826
471,963

835
408,662

1,240
429,946

0
81,629

0
218,887

0
143,091

0
303,187

0
305,187

0
428,231

45,528
0

98,200
7,387

110,084
13,839

240,377
38,619

410,635
152,431

607,433
241,371

45,528
0

90,813
20,358

96,245
78,005

201,758
52,807

258,204
62,584

366,062
45,248

32,667

14,000

0
0

0
0

20,358

78,005

52,807

19,554
10,363

27,716
3,532

213,118
350,000

410,872
500,000

506,980
500,000

732,286
500,000

725,719
500,000

833,855
500,000

350,000
0
(136,882)

500,000
0
(89,128)

500,000
0
6,980

500,000
0
232,286

500,000
0
225,719
0
225,719

500,000
0
333,855
0
333,855

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

1,284,273
1,284,273

(73,984)
69,353

80,505
90,558

290,688
139,106

589,388
228,958

1,116,856
1,116,856
0
459,622
381,962
77,660
657,234
279,570
129,206
150,364

254,728
28,117
25,976
313,820
110,983
80,000
0
137,139

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

69,353

90,558

139,106

228,958

689,449
528,559
160,890
594,824
270,573
114,951
155,622

(142,217)
100
0
0

(8,437)
1,602
0
0

146,238
3,111
0
0

355,075
117,932
0
0

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

241

538

8,028

11,190

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

H.Key Performance Indicators

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

1,643,125

197,943
1,324,678

90,345
1,550,921

1,133,914
855,001

1,234,005
129,397

153,778
0

153,174
0

188,213
529,520

165,601
379,127

9,178

18,461

95,356
189,216

24,156
196,072

75,000
160,770

0
140,438

355,973
77,607

220,205
51,263

278,366
408,705

168,942
436,985

46,563

293,754
0

391,629
0

36,544
31,844

45,230
126

1,438,690
1,341,383

1,365,062
1,341,383

1,341,383
0
97,307
76,223
21,084

1,341,383
0
23,679
76,223
(52,544)

504,415
504,415
0
324,819
92,784
232,035
179,596
187,098
7,130
179,968

498,588
498,588
0
374,137
88,932
285,205
124,451
193,106
12,242
180,864

145,062
38,145
99,424
(23,759)
735
0
0
(53,056)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

276,614

375,990

561,990

973,229

1,468,015

2,173,344

281,337

396,703

468,874

720,030

61,571
705,042

165,433
727,637

230,006
22,969

307,788
32,044

364,151
31,804

537,541
72,841

519,424
88,071

496,824
72,534

46,608

68,202

197,839

435,688

871,832
15,188

1,493,810
15,188

424,401

678,624

1,031,106

1,504,269

0
1,448,651

2,089
1,806,808

18,889

127,276

67,529

127,933

227,992

145,046

0
130,835

0
150,765

499,012
319,109

0
432,861

0
623,499

0
859,403

45,000
229,677

15,188
385,395

15,188
130,268

15,188
928,287

0
597,160

0
802,359

79,075
25,101

105,577
45,462

286,904
137,273

460,360
214,759

402,704
200,000

571,825
200,000

53,974
1,928

60,115
7,918

149,631
13,031

245,601
18,092

202,704
135,044

371,825
71,119

87,500

62,500

34,520
0

0
0

1,928

7,918

13,031

18,092

0
13,024

0
8,619

620,012
255,000

941,119
354,820

1,293,161
408,043

1,999,046
597,375

2,378,918
779,102

3,337,208
779,102

255,000
0
365,012

354,820
0
586,299

408,043
0
885,118

597,375
0
1,401,671

779,102
0
1,599,816
273,029
1,326,787

779,102
0
2,558,106
273,029
2,285,077

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

1,081,395
154,449
926,946
628,826
628,826
0
452,569
366,607
85,054
281,553

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

77,962

157,141

199,326

285,140

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

210,305

239,015

286,318

357,553

405,267

397,197

339,582

395,238

493,512

614,942

0
690,083

0
753,865

210,305
24,354

239,015
28,053

286,318
51,042

357,553
69,996

405,267
75,594

397,197
75,350

0
0

0
0

319,605

351,365

390,527

475,435

0
595,909

0
683,000

191,059

45,598

63,498

82,415

127,313

151,516

0
54,458

0
75,210

0
97,023

0
172,459

0
101,599

0
85,151

0
74,088

148,502
82,055

129,747
100,259

96,421
124,140

234,020
132,977

207,620
238,713

271,448
0

258,728
0

275,069
0

356,485
0

340,265
0

322,734
0

271,448
0

258,728
0

275,069
0

356,485
0

340,265
69,637

322,734
69,822

0
0

0
0

13,525
56,112

15,958
53,864

258,462
71,280

331,652
71,280

401,776
78,408

476,503
78,408

591,274
78,408

687,641
78,408

71,280
0
187,182

71,280
0
260,372

78,408
0
323,368

78,408
0
398,095

78,408
0
512,866
12,042
500,824

78,408
0
609,233
12,042
597,191

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

1,042,099
1,042,099
0
748,259
208,523
539,736
293,840
66,198
1,349
64,849

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

122,707

123,354

85,717

126,455

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,743,847

2,444,995

3,042,511

4,004,667

5,840,334

5,949,032

1,865,739

2,721,046

3,552,126

4,762,019

1,031,764
5,769,763

454,206
6,849,306

1,669,383
134,728

2,384,036
141,869

3,004,720
212,856

3,990,261
240,331

4,724,746
281,039

5,346,132
465,250

74,464

60,959

37,791

14,406

251
0

64,989
0

796,772

1,216,658

1,349,662

1,749,615

83,573
1,882,786

83,705
2,366,106

521,461

756,442

380,540

390,458

491,188

1,023,176

0
124,345

0
168,309

168,465
137,846

0
249,275

253,915
388,046

301,086
237,352

0
150,966

1,276
290,631

461,004
201,807

706,580
403,302

559,847
189,790

592,372
212,120

422,346
130,069

702,543
171,575

917,730
227,768

1,393,366
440,845

1,097,705
0

1,152,307
0

292,277
910,834

530,968
1,453,221

689,962
1,665,905

952,521
2,041,118

1,097,705
3,660,811

1,152,307
3,444,855

2,656,028

2,298,040

0
0

0
0

910,834

1,453,221

1,665,905

2,041,118

0
1,004,783

0
1,146,815

1,207,439
938,008

1,505,889
938,008

1,808,538
938,008

2,319,798
1,089,610

2,964,604
1,089,610

3,717,976
1,271,532

758,008
180,000
269,431

758,008
180,000
567,881

758,008
180,000
870,530

909,610
180,000
1,230,188

1,089,610
0
1,874,994
0
1,874,994

1,271,532
0
2,446,444
0
2,446,444

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

4,564,256
4,564,256
0
2,494,840
0
2,494,840
2,069,416
786,956
1,633
785,323

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

128,026

143,836

175,664

471,765

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

51,376,335

79,062,437

95,600,626

115,123,491

187,916,288

159,238,665

79,884,873

109,507,987

130,110,253

158,440,614

794,924
213,621,855

1,129,146
190,907,308

51,263,914
4,181,035

78,964,162
3,449,601

95,497,151
5,617,195

115,010,337
8,015,110

174,765,285
10,679,473

145,040,401
7,278,499

112,421

98,275

103,475

113,154

2,826,422
89,981

2,856,378
141,144

21,521,168

27,829,332

23,172,948

24,546,376

9,439,676
21,276,576

10,071,596
22,912,156

2,614,691

5,459,924

1,975,459

789,555

4,691,221

5,927,994

0
5,222,534

0
6,129,673

3,251,940
5,012,778

0
5,757,849

4,017,865
8,335,142

3,873,673
8,698,030

687,560
12,996,383

4,949,592
11,290,143

4,572,322
8,360,449

4,540,147
13,458,825

144,060
4,088,288

847,453
3,565,006

21,777,027
5,645,411

44,102,589
23,595,988

55,420,255
31,016,062

76,073,376
43,105,449

70,022,689
23,982,160

91,140,144
22,665,109

16,131,616
38,099,178

20,506,601
62,650,892

24,404,193
74,284,837

32,967,927
96,926,214

46,040,529
139,888,255

68,475,035
125,318,181

33,300,378

21,437,736

14,003,940

13,246,970

10,723,738

12,430,143

7,000,000
19,592,320

8,000,000
17,457,280

24,095,238

49,403,922

63,561,099

84,496,071

18,307,683
61,687,874

24,281,277
54,141,888

13,021,298
17,980,659

138,288
19,473,631

(10,931,518)
20,878,074

(33,329,723)
21,423,014

(718,080)
23,280,356

(34,307,504)
25,774,948

17,980,659
0
(4,959,361)

19,473,631
0
(19,335,343)

20,878,074
0
(31,809,592)

21,423,014
0
(54,752,737)

23,272,856
7,500
(62,865,633)
3,473,591
(66,339,224)

25,767,448
7,500
(81,141,877)
3,407,928
(84,549,805)

38,867,197

21,059,425

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

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

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

8,134,745

10,205,552

11,193,267

37,054,494

(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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

638,714

7,439,170

8,041,024

1,010,823

8,729,638

15,694,447

731,420

8,882,423

8,758,583

1,102,632

347,599
912,445

668,762
916,762

627,162
44,463

7,430,919
1,104,188

8,036,074
1,257,675

1,009,174
93,458

801,558
41,567

767,609
38,627

11,552

8,251

4,950

1,649

0
1,581,131

0
1,584,670

14,295,061

6,160,521

8,350,578

12,603,513

5,999,350
8,070,341

12,673,406
2,826,872

1,101,579

4,327,054

907,906

3,394,350

2,217,680

1,307,961

0
103,700

0
209,936

444,341
557,290

0
236,312

22,622
369,276

22,788
193,195

11,588,447
1,501,335

704,943
918,588

6,040,632
400,409

5,681,779
3,291,072

5,108,614
352,149

1,207,224
95,704

3,754,303
256,071

1,673,151
258,557

1,898,097
258,771

7,443,597
245,607

9,763,834
0

11,096,488
0

3,498,232
725,536

1,414,594
474,021

1,639,326
215,643

7,197,990
0

9,763,834
219,894

11,096,488
291,288

0
58,252

0
50,194

725,536

474,021

215,643

0
161,642

0
241,094

10,453,936
1,200,576

11,452,519
1,320,634

14,277,862
1,320,634

6,170,739
1,320,634

6,816,251
1,320,634

7,133,543
1,320,634

1,200,576
0
9,253,360

1,320,634
0
10,131,885

1,320,634
0
12,957,228

1,320,634
0
4,850,105

1,320,634
0
4,814,590
126,843
4,687,747

1,320,634
0
5,140,981
126,843
5,014,138

681,027

671,928

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

3,491,783
3,491,783
0
1,932,155
0
1,932,155
1,559,628
637,029
5,128
631,901

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

778,714

529,321

611,539

629,292

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

87,468,140

93,090,976

90,032,106

138,405,485

149,513,334

156,245,937

206,006,097

223,338,718

232,722,125

263,052,209

13,297,795
321,339,316

17,959,087
335,810,870

83,195,358
12,169,139

89,042,100
11,655,477

86,801,364
12,345,628

134,650,828
16,142,494

131,909,917
19,006,676

134,123,749
21,162,250

4,272,782

4,048,876

3,230,742

3,754,657

3,865,149
108,095

3,716,981
108,910

48,416,468

59,149,046

62,788,754

52,651,550

332,378
65,626,552

337,210
51,824,385

12,280,761

22,598,785

33,283,660

21,240,745

21,185,566

10,072,560

0
15,515,958

0
16,059,983

3,879,206
11,411,412

190,883
12,610,927

470,673
10,875,750

385,199
10,385,233

6,909,874
13,709,875

7,118,002
13,372,276

7,411,776
6,802,700

3,737,634
14,871,361

21,017,790
12,076,773

13,493,865
17,487,528

24,881,825
2,956,760

35,139,623
0

41,907,596
2,145,948

79,975,667
3,807,390

62,790,693
0

47,128,440
0

21,925,065
0

35,139,623
0

39,761,648
0

76,168,277
9,100,949

62,790,693
47,096,259

47,128,440
52,867,124

9,000,000

13,000,000

0
0

0
0

9,100,949

14,252,785
23,843,474

15,676,877
24,190,247

111,002,783
51,000,000

117,100,399
51,000,000

110,913,264
51,000,000

101,980,419
51,000,000

105,252,934
51,000,000

108,074,758
51,000,000

51,000,000
0
60,002,783

51,000,000
0
66,100,399

51,000,000
0
59,913,264

51,000,000
0
50,980,419

51,000,000
0
54,252,934
0
54,252,934

51,000,000
0
57,074,758
0
57,074,758

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

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

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

28,034,459

27,916,857

26,851,475

44,666,085

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

349,176

270,049

225,836

194,088

170,735

145,317

336,556

301,609

301,134

302,692

3,891
299,853

3,891
299,087

292,544
35,627

221,860
38,606

189,314
32,783

162,785
28,134

136,055
20,487

115,540
23,990

56,632

48,189

36,522

31,303

26,402
4,387

21,502
4,384

239,178

109,718

45,754

29,727

0
13,412

0
11,620

30,866

1,253

1,939

1,022

1,150

564

59,335
37,741

15,573
32,340

5,914
16,247

4,019
6,888

4,852
1,028

2,035
1,798

14,996
96,240

0
60,552

0
21,654

0
17,798

0
6,382

0
7,223

155,410
96,364

115,729
58,612

181,148
66,205

221,100
48,794

180,515
4,627

143,620
0

59,046
74,736

57,117
21,306

114,943
15,222

172,306
8,424

175,888
28,869

143,620
80,029

27,000

76,197

0
0

0
0

74,736

21,306

15,222

8,424

1,869
0

3,832
0

358,208
499,755

242,732
499,755

75,220
499,755

(5,709)
499,755

(25,237)
499,775

(66,712)
499,775

499,755
0
(141,547)

499,755
0
(257,023)

499,755
0
(424,535)

499,755
0
(505,464)

499,775
0
(525,012)
27,643
(552,655)

499,775
0
(566,487)
32,703
(599,190)

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

126,167

115,682

114,007

30,962

58,796
58,796
0
65,429
14,163
51,266
(6,633)
26,108
16,381
9,727

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)

(101,039)
1,119
0
0

(112,648)
501
0
0

(167,225)
286
0
0

(80,642)
286
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

15,781

10,333

2,764,967

791

3,694,825

2,257,231

21,352

23,288

1,491,603

23,173

12,255
2,622,996

52,904
2,492,618

15,610
5,621

10,251
7,310

752,482
276,685

791
2,263

996,265
359,558

639,769
364,466

171

82

2,012,485

2,610,075
0

1,397,167
60,461

2,849,846

3,650,768

2,885,180

1,499,648

76,230
2,561,674

106,930
3,399,636

14,582

50,388

847,015

2,176

321,112

542,563

0
0

0
0

4,869
1,223,827

0
2,424

10,550
1,773,993

12,388
1,662,413

2,794,265
40,999

3,558,355
42,025

9,259
800,210

1,474,704
20,344

0
456,019

0
1,182,272

541,519
505,500

1,481,396
1,406,143

1,515,181
735,454

35,589
0

5,497,622
973,618

6,092,883
1,024,789

36,019
9,191

75,253
3,069

779,727
83,050

35,589
0

4,524,004
624,025

5,068,094
420,207

84,661

139,824

296,976
0

73,926
0

9,191

3,069

83,050

7,669
234,719

8,791
197,666

2,314,917
2,408,692

2,176,636
2,408,692

4,051,916
5,193,902

1,464,850
3,853,907

134,852
3,853,907

(856,223)
3,853,907

2,408,692
0
(93,775)

2,408,692
0
(232,056)

3,853,907
1,339,995
(1,141,986)

3,853,907
0
(2,389,057)

3,853,907
0
(3,719,055)
1,037,607
(4,756,662)

3,853,907
0
(4,710,130)
959,211
(5,669,341)

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

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

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

1,872,522

6,919

3,015,995

3,263,802

(79,111)
16,498
0
0

(135,912)
0
0
0

(574,344)
20,716
0
0

(2,118,093)
4,124
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

7,463,992

7,813,223

7,820,628

8,408,998

6,663,767

5,348,485

4,816,789

5,757,483

6,417,148

6,293,185

535,476
6,466,698

544,525
6,511,884

4,085,911
236,032

4,564,313
468,398

4,601,312
610,302

3,824,829
664,504

2,780,833
786,798

2,095,152
734,078

3,378,081

3,248,910

3,219,316

4,584,169

2,900,823
0

2,611,521
0

4,044,873

3,451,071

1,783,820

1,987,030

446,635
2,946,006

97,287
5,196,242

2,569,446

1,833,593

130,191

35,436

8,772

82,541

22,772
89,966

14,487
166,131

13,130
203,538

10,220
325,894

8,857
723,661

8,836
1,057,917

340,537
1,022,152

340,537
1,096,323

0
1,436,961

409,722
1,205,758

75,555
2,129,161

9,571
4,037,377

4,999,886
1,022,289

5,324,194
935,189

4,056,412
665,830

5,854,183
937,405

3,855,443
407,783

3,199,594
269,771

3,977,597
2,794,447

4,389,005
2,268,874

3,390,582
2,305,130

4,916,778
1,805,099

3,447,660
2,903,898

2,929,823
3,670,554

464,000

502,000

2,400,000

2,099,041

1,648,801

1,128,960

0
0

0
0

394,447

169,833

656,329

676,139

39,361
2,400,537

23,139
3,145,415

3,714,532
3,000,000

3,671,226
3,000,000

3,242,906
3,000,000

2,736,746
3,000,000

2,850,432
3,000,000

3,674,579
3,000,000

3,000,000
0
714,532

3,000,000
0
671,226

3,000,000
0
242,906

3,000,000
0
(263,254)

3,000,000
0
(149,568)
0
(149,568)

3,000,000
0
674,579
0
674,579

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

4,406,184
4,406,184
0
2,944,401
2,944,401
0
1,461,783
761,312
0
761,312

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

446,658

510,378

565,822

752,900

432,098
187,758
0
0

(93,289)
12,802
0
0

(532,301)
10,738
0
0

(709,147)
26,622
0
0

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

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

21,566,135

3,513,632
15,510,200

3,883,565
20,114,318

14,062,017
941,294

17,053,114
1,630,824

336,907
0

310,843
0

378,161
7,983,764

318,613
8,783,416

397,192

2,014,726

158,864
3,720,786

8,091
4,060,687

0
3,706,922

0
2,699,912

10,607,753
1,466,165

24,408,286
12,411,659

9,141,588
10,899,317

11,996,627
1,218,962

6,155,733

0
0

0
0

48,592
4,694,992

60,059
1,158,903

4,767,411
2,087,373

4,722,303
6,174,746

2,087,373
0
2,680,038
179,500
2,500,538

6,174,746
0
(1,452,443)
206,999
(1,659,442)

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

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

1,219,451
568,393
889,654
1,680,741
44,139
0
0
321,128

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

4,527,312

11,697,499

14,200,689

15,888,289

18,673,786

18,371,831

2,155,162

7,384,099

10,738,499

12,988,982

1,650,854
15,508,778

751,378
17,891,529

2,114,292
39,090

6,860,685
501,142

9,496,190
726,340

10,879,966
891,769

12,110,704
1,139,913

12,795,044
1,414,248

2,413,020

4,836,814

4,704,499

5,008,323

4,767,265
76,162

4,606,312
89,900

1,444,305

4,226,410

3,182,063

3,496,659

68,801
4,142,091

129,197
3,634,441

591,928

1,452,789

560,575

849,040

336,480

183,960

436
300,367

21,931
701,434

35,187
899,052

90,868
900,712

182,105
2,116,744

192,917
2,016,418

0
551,574

941,248
1,109,008

629,699
1,057,550

702,408
953,631

378,439
1,128,323

310,472
930,674

2,484,250
159,712

3,379,975
995,969

4,114,001
1,276,779

3,415,568
390,323

5,309,977
0

8,437,709
200,000

2,324,538
750,825

2,384,006
1,244,179

2,837,222
1,214,345

3,025,245
3,607,173

5,309,977
6,126,847

8,237,709
3,338,589

18,542

15,962

49,909

342,855

3,237,470

0
3,364,861

0
2,166,079

750,825

1,194,270

871,490

369,703

175,942
2,567,502

226,979
929,569

2,736,542
2,750,000

11,299,755
6,539,658

12,054,406
7,520,607

12,362,207
8,605,716

11,379,053
8,605,716

10,229,974
8,605,716

2,750,000
0
(13,458)

6,539,658
0
4,760,097

7,520,607
0
4,533,799

8,605,716
0
3,756,491

8,605,716
0
2,441,763
766,860
1,674,903

8,605,716
0
1,285,898
764,787
521,111

331,574

338,360

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

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

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

92,199

1,090,851

1,093,458

1,253,154

(31,921)
0
0
0

1,182,220
0
0
0

710,995
334
0
0

43,446
22,590
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

40,160,442

43,353,483

51,533,745

62,476,965

132,829,786

144,401,834

69,368,030

75,019,518

86,763,890

106,336,739

27,165,270
97,488,491

24,268,266
118,611,462

39,913,123
4,176,019

43,025,889
4,413,841

51,184,295
4,549,586

62,141,118
5,285,961

49,810,306
5,662,806

64,420,388
7,271,168

247,319

327,594

349,450

335,847

585,465
33,740,952

2,130,061
36,135,370

133,653,621

203,019,210

231,547,459

365,829,239

21,527,793
345,051,884

17,447,749
442,772,415

33,721,223

46,757,220

34,223,708

66,825,396

37,239,112

39,387,296

36,491,532
26,813,094

56,037,533
43,809,138

61,516,942
50,252,169

110,890,572
90,711,066

83,988,397
173,064,466

102,761,119
230,217,263

9,790,237
26,837,535

22,826,355
33,588,964

45,953,272
39,601,368

55,532,698
41,869,507

13,248,309
37,511,600

30,635,115
39,771,622

92,270,019
9,409,833

139,908,824
15,885,426

159,829,104
17,542,891

274,564,736
26,543,107

294,254,425
32,958,463

368,386,101
29,891,629

82,860,186
899,021

124,023,398
6,117,223

142,286,213
1,521,288

248,021,629
1,013,258

261,295,962
25,692,600

338,494,472
28,686,553

5,534,040

3,585,973

535,698

321,396

107,094

4,023,101
0

5,000,944
0

899,021

5,581,525

1,199,892

906,164

3,156,809
12,978,650

3,522,668
16,576,968

80,645,023
14,305,328

100,346,646
15,205,041

121,730,812
15,478,346

152,728,210
18,176,971

157,934,645
19,563,775

190,101,595
21,223,467

14,305,328
0
66,339,695

15,204,887
154
85,141,605

15,478,346
0
106,252,466

18,176,971
0
134,551,239

19,563,775
0
132,362,778
12,464,644
119,898,134

21,223,467
0
159,949,983
10,918,592
149,031,391

6,008,092

8,928,145

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

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

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

14,263,909

16,175,865

17,369,070

23,604,031

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

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

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%

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

40%

40.1%

400

200

16.7%

20%
0%

0
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
2009

2010

40.73

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

2.09 2.8
1.17 1.2 2.03

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

335,202

520,948

601,326

922,621

1,864,272

2,013,419

433,584

673,037

816,437

1,212,247

191,095
1,294,352

197,475
1,472,927

335,202
32,118

520,948
55,785

601,326
63,428

922,621
77,187

939,780
82,634

1,019,742
127,298

0
733,397

0
765,739

2,112,713

6,063,168

8,382,441

14,590,715

0
16,408,160

30,463
19,429,233

1,267,074

2,280,904

4,066,809

6,117,891

7,434,910

9,275,603

110,076
277,118

74,220
2,502,476

341,702
2,502,998

299,092
5,825,869

141,507
7,835,521

993,282
7,602,060

90,849
367,596

353,257
852,311

202,025
1,268,907

1,039,450
1,308,413

0
996,222

831,754
726,534

1,434,784
0

4,538,425
0

5,529,470
0

9,977,487
0

10,938,626
0

11,917,167
0

1,434,784
0

4,538,425
0

5,529,470
0

9,977,487
0

10,938,626
251,538

11,917,167
288,908

0
0

0
0

0
251,538

0
288,908

1,013,131
400,000

2,045,691
400,000

3,454,297
400,000

5,535,849
480,000

7,082,268
576,000

9,236,577
576,000

400,000
0
613,131

400,000
0
1,645,691

400,000
0
3,054,297

480,000
0
5,055,849

576,000
0
6,506,268
34,097
6,472,171

576,000
0
8,660,577
17,043
8,643,534

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

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

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

164,845

342,168

409,649

556,036

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

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

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

H.Key Performance Indicators

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,354,725

3,243,951

2,968,135

2,929,652

18,415,324

19,957,153

6,040,031

6,266,867

6,347,549

6,663,704

336,072
6,383,506

260,908
6,543,471

3,354,725
339,268

3,243,951
340,410

2,968,135
340,410

2,929,652
391,506

2,524,816
127,932

2,565,183
123,925

0
15,299,218

0
16,915,229

15,013,113

25,852,334

29,219,818

47,151,531

255,218
28,140,279

215,833
42,297,522

5,480,582

8,031,594

8,880,114

18,944,632

6,803,995

3,971,738

2,100,624
4,187,571

3,523,808
4,675,133

3,852,646
6,234,918

4,844,853
9,207,238

4,869,728
15,510,180

7,179,547
30,430,592

2,408,984
835,352

8,622,914
998,885

9,261,339
990,801

13,135,579
1,019,229

0
956,376

0
715,645

13,560,044
30,000

20,554,182
1,136,750

26,485,949
0

38,458,853
0

32,302,627
0

46,259,902
0

13,530,044
0

19,417,432
3,410,250

26,485,949
0

38,458,853
0

32,302,627
120,130

46,259,902
140,022

0
0

0
0

3,410,250

120,130
0

140,022
0

4,807,794
349,920

5,131,853
454,896

5,702,004
568,620

11,622,330
710,775

14,132,846
852,930

15,854,751
852,930

349,920
0
4,457,874

454,896
0
4,676,957

568,620
0
5,133,384

710,775
0
10,911,555

852,930
0
11,356,577
5,296,593
6,059,984

852,930
0
13,078,482
4,723,028
8,355,454

1,923,339

1,923,339

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

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

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

547,705

264,990

293,975

454,187

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

3,279,965

3,737,018

6,401,691

8,575,551

14,874,321

17,188,681

3,621,380

4,390,591

7,275,720

9,698,575

4,297,952
12,091,616

5,832,740
13,466,331

3,274,196
337,544

3,719,322
325,598

6,387,534
219,890

8,564,933
249,322

10,480,610
482,019

11,232,245
634,916

5,769

17,696

14,157

10,618

7,079
0

39,116
0

3,596,174

7,380,583

8,840,938

23,486,044

88,680
16,744,472

84,580
13,629,157

300,887

2,189,778

1,788,863

7,906,497

2,078,445

1,046,352

1,812,325
1,260,162

3,909,395
1,106,960

5,177,422
1,079,213

11,934,244
3,217,917

4,487,801
9,089,974

4,927,938
6,861,842

0
222,800

0
174,450

300,000
495,440

0
427,386

0
1,088,252

0
793,025

3,493,796
814,102

7,358,405
890,101

8,742,243
859,375

26,027,414
1,605,532

23,129,180
1,660,246

26,347,196
2,486,188

2,679,694
820,782

6,468,304
1,000,605

7,882,868
1,451,589

24,421,882
933,899

21,468,934
11,081,333

23,861,008
10,047,522

5,432,145

3,495,430

535,698

321,396

107,094

4,023,101
0

5,000,944
0

820,782

464,907

1,130,193

826,805

12,259
1,613,828

22,959
1,528,189

2,561,561
2,450,652

2,758,591
2,450,652

5,048,797
2,450,652

5,100,282
3,921,044

(2,591,720)
3,921,044

(5,576,880)
3,921,044

2,450,652
0
110,909

2,450,652
0
307,939

2,450,652
0
2,598,145

3,921,044
0
1,179,238

3,921,044
0
(10,597,517)
0
(10,597,517)

3,921,044
0
(13,358,802)
0
(13,358,802)

4,084,753

3,860,878

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

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

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

105,615

138,578

196,142

1,647,747

182,391
49,994
0
0

301,361
89,645
0
0

(628,204)
96,859
0
0

183,981
179,031
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,532,531

2,297,379

2,361,478

2,613,187

3,188,894

3,771,585

6,293,972

7,167,360

7,416,800

7,907,169

923,463
7,623,624

534,040
8,471,125

1,511,276
157,597

2,286,751
177,150

2,343,352
195,768

2,601,276
239,204

2,095,848
228,331

2,714,181
235,129

21,255

10,628

18,126

11,911

5,938
0

138
0

16,899,885

22,625,162

30,280,081

43,991,428

163,645
39,155,717

523,226
47,867,534

7,844,153

7,761,060

11,492,152

13,122,136

7,800,079

16,209,008

3,205,874
1,654,027

6,475,195
5,342,764

7,687,420
6,130,324

13,288,291
10,173,051

12,251,181
14,841,288

11,798,203
16,291,704

0
4,195,831

0
3,046,143

0
4,970,185

3,615,359
3,792,591

0
4,263,169

0
3,568,619

11,492,269
0

15,545,821
0

19,895,170
0

29,185,570
0

24,856,323
0

31,861,654
0

11,492,269
0

15,545,821
0

19,895,170
0

29,185,570
0

24,856,323
135,547

31,861,654
139,492

0
0

0
0

135,547
0

139,492
0

6,940,147
666,388

9,376,720
666,388

12,746,389
666,388

17,419,045
799,666

17,352,741
799,666

19,637,973
799,666

666,388
0
6,273,759

666,388
0
8,710,332

666,388
0
12,080,001

799,666
0
16,619,379

799,666
0
16,553,075
3,932,897
12,620,178

799,666
0
18,838,307
3,225,321
15,612,986

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

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

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

948,955

1,064,284

1,155,225

1,922,197

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,829,506

6,500,547

8,153,327

10,359,216

26,573,959

29,369,919

7,896,660

6,928,639

10,712,568

13,015,437

2,151,621
5,186,238

105,507
7,847,209

5,829,506
203,195

6,500,547
230,793

8,153,327
285,180

10,359,216
580,625

1,922,991
417,283

4,054,371
620,514

0
11,330,404

0
12,016,118

10,010,459

16,740,701

16,867,069

22,508,772

11,168,943
9,957,920

13,193,923
12,465,495

5,240,201

3,923,783

3,173,303

7,424,725

4,074,756

4,177,531

30,216
1,083,357

62,774
2,489,937

69,207
2,343,639

57,611
1,800,233

95,971
1,827,533

104,073
2,584,625

2,676,278
980,407

8,335,208
1,928,999

8,734,654
2,546,266

10,214,926
3,011,277

6,623
3,953,037

2,282,908
3,316,358

4,556,542
0

6,996,752
1,080,000

5,544,193
0

7,498,072
0

2,804,032
0

3,384,163
0

4,556,542
0

5,916,752
1,620,000

5,544,193
0

7,498,072
0

2,804,032
6,148,624

3,384,163
6,993,214

0
0

0
0

1,620,000

8,758
6,139,866

9,173
6,984,041

11,283,423
1,314,144

14,624,496
1,971,216

19,476,203
1,971,216

25,369,916
1,971,216

27,579,223
2,365,459

31,458,037
2,365,459

1,314,144
0
9,969,279

1,971,216
0
12,653,280

1,971,216
0
17,504,987

1,971,216
0
23,398,700

2,365,459
0
25,213,764
557,087
24,656,677

2,365,459
0
29,092,578
378,996
28,713,582

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

14,545,279
14,545,279
0
6,126,443
0
6,126,443
8,418,836
2,656,910
0
2,656,910

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

1,049,928

620,388

1,001,077

1,736,721

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

11,274,763

12,869,583

15,377,148

21,368,020

37,477,478

44,522,467

19,382,872

23,787,811

24,213,098

35,853,636

16,444,583
34,950,465

14,786,064
46,802,606

11,199,115
1,358,785

12,763,021
1,471,407

15,226,821
1,636,347

21,187,166
2,147,646

18,318,870
2,308,665

26,909,324
3,437,317

75,648

106,562

150,327

180,854

207,264
1,854,333

374,850
1,804,498

20,517,039

28,196,514

34,991,977

39,655,241

652,428
45,438,653

647,731
63,057,116

10,665,554

17,326,903

787,384

1,094,892

1,384,353

1,874,393

0
4,582,580

0
6,941,736

1,474,655
9,002,094

0
13,228,456

0
27,779,864

0
30,811,189

651,807
4,617,098

308,396
3,619,479

22,193,282
1,534,562

22,749,486
2,582,407

13,241,686
3,032,750

27,520,453
2,851,081

8,013,250
37,209

10,056,167
44,236

10,201,922
50,696

17,291,426
44,795

14,648,084
45,946

19,623,088
1,210,728

7,976,041
61,969

10,011,931
79,349

10,151,226
69,152

17,246,631
77,564

14,602,138
5,209,490

18,412,360
8,050,264

100,105

87,881

0
0

0
0

61,969

79,349

69,152

77,564

990,685
4,118,700

1,135,029
6,827,354

23,716,583
6,858,376

30,930,581
6,858,376

40,098,051
6,858,376

43,654,271
7,544,200

63,058,557
8,298,606

79,906,231
9,958,298

6,858,376
0
16,858,207

6,858,222
154
24,072,205

6,858,376
0
33,239,675

7,544,200
0
36,110,071

8,298,606
0
54,759,951
1,428
54,758,523

9,958,298
0
69,947,933
1,428
69,946,505

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

61,580,072
61,580,072
0
20,624,486
0
20,624,486
40,955,586
3,103,270
0
3,103,270

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

751,076

1,127,195

2,600,106

2,085,367

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

709,781

816,734

952,118

989,865

3,412,936

5,696,266

1,275,865

1,600,580

1,841,574

2,030,504

1,381,075
2,131,135

1,562,378
5,361,657

709,781
83,204

816,734
110,122

930,675
132,110

975,774
143,831

954,988
130,813

4,036,490
155,256

21,443

14,091

6,739
57,280

0
66,663

6,946,636

11,187,665

13,734,415

22,782,211

1,012,854
29,153,909

30,735
25,163,450

248,724

2,363,107

1,698,277

2,646,115

3,909,833

9,590

2,040,949
3,924,648

3,843,622
3,674,774

5,107,781
4,779,465

9,102,109
10,427,821

8,367,282
14,431,063

6,810,970
16,120,819

865
731,450

50,609
1,255,553

255,846
1,893,046

58,603
547,563

0
2,445,731

0
2,222,071

4,358,556
237

7,452,851
29,080

9,881,450
0

16,966,171
0

30,383,131
4,105,936

28,509,765
3,171,710

4,358,319
0

7,423,771
0

9,881,450
0

16,966,171
0

26,277,195
4,372

25,338,055
1,138

0
0

0
0

4,372
0

1,138
0

3,297,861
200,000

4,551,548
250,000

4,805,083
300,000

6,805,905
350,000

2,179,342
350,000

2,348,813
350,000

200,000
0
3,097,861

250,000
0
4,301,548

300,000
0
4,505,083

350,000
0
6,455,905

350,000
0
1,829,342
897
1,828,445

350,000
0
(1,145,115)
897
(1,146,012)

3,143,928

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

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

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

376,831

391,201

270,663

1,079,720

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

8,256,129

7,639,248

8,138,529

7,566,051

14,732,119

8,874,593

14,329,269

13,668,220

16,244,045

16,774,554

698,501
16,692,857

644,850
17,106,763

8,111,482
973,607

7,484,429
1,046,839

8,012,317
1,098,157

7,460,549
1,119,137

6,288,524
1,141,698

5,730,383
1,137,637

144,647

154,819

126,212

105,502

68,872
2,153,514

36,250
2,019,270

43,822,347

62,529,276

66,598,786

119,543,969

5,522,708
138,689,524

443,840
193,373,148

1,921,936

1,898,894

1,522,276

3,018,640

2,883,118

1,778,056

20,583,301
6,791,078

28,168,633
11,839,518

29,562,055
13,599,966

62,360,067
33,904,728

40,698,209
80,509,830

58,598,668
117,501,074

2,084,453
12,441,579

3,278,970
17,343,261

2,990,591
18,923,898

2,701,097
17,559,437

0
14,598,367

0
15,495,350

33,442,017
4,811,605

49,355,465
7,648,919

53,798,098
9,064,781

96,144,966
10,997,908

130,023,120
18,654,526

170,075,456
13,021,015

28,630,412
0

41,706,546
0

44,733,317
0

85,147,058
0

111,368,594
2,527,738

157,054,441
2,836,227

0
0

0
0

1,673,020
854,718

1,887,751
948,476

18,636,459
1,715,190

20,813,059
1,715,190

20,939,217
1,715,190

30,965,054
1,715,190

20,870,785
1,715,190

29,336,058
1,715,190

1,715,190
0
16,921,269

1,715,190
0
19,097,869

1,715,190
0
19,224,027

1,715,190
0
29,249,864

1,715,190
0
19,155,595
545,595
18,610,000

1,715,190
0
27,620,868
475,829
27,145,039

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

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

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

5,443,577

7,101,552

6,012,814

9,283,021

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

5,587,840

5,728,075

6,579,993

7,152,802

12,290,483

13,007,751

10,094,397

10,536,413

11,896,099

13,180,913

740,908
11,134,698

344,304
11,539,373

5,587,840
690,701

5,690,186
655,737

6,560,808
578,296

7,139,931
337,503

6,283,879
743,431

6,158,469
799,176

37,889

19,185

12,871

289,573
2,312,806

1,679,707
2,547,853

14,735,255

22,443,807

22,631,934

32,119,328

2,663,317
21,363,250

2,277,418
25,489,760

752,112

981,197

814,530

6,549,868

869,623

1,045,025

6,608,167
3,052,553

9,979,886
5,235,840

8,244,054
4,579,552

9,004,305
2,925,753

13,076,718
1,239,213

12,348,438
2,013,358

1,877,001
2,445,422

1,877,001
4,369,883

2,015,535
6,978,263

2,018,198
11,621,204

0
6,177,696

0
10,082,939

11,918,761
3,716,680

18,050,756
5,056,340

19,750,609
7,568,039

33,014,777
13,894,872

25,169,302
8,491,809

30,407,710
10,001,988

8,202,081
16,270

12,994,416
7,019

12,182,570
547

19,119,905
1,795

16,677,493
213,828

20,405,722
189,766

1,790

2,662

0
0

0
0

16,270

7,019

547

1,795

212,038
0

187,104
0

8,388,064
350,658

10,114,107
438,323

9,460,771
547,904

6,255,558
684,880

8,270,603
684,880

7,900,035
684,880

350,658
0
8,037,406

438,323
0
9,675,784

547,904
0
8,912,867

684,880
0
5,570,678

684,880
0
7,585,723
2,096,050
5,489,673

684,880
0
7,215,155
2,096,050
5,119,105

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

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

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

4,875,377

5,125,509

5,429,419

4,839,035

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

11,433,402

18,935,247

29,077,484

32,812,211

41,275,251

44,201,279

18,249,481

25,927,002

36,820,332

34,913,594

371,717
44,015,945

794,331
44,806,245

11,427,606
783,794

18,932,507
789,409

29,069,829
974,168

32,783,525
1,347,443

32,320,378
2,248,049

30,636,911
2,542,185

5,796

2,740

7,655

28,686

71,634
4,564,542

66,548
8,683,224

8,798,812

12,711,670

19,121,735

22,091,251

3,946,980
15,811,967

4,020,265
17,468,180

2,316,879

377,652

347,238

403,610

994,853

1,499,732

2,506,500
1,536,335

2,876,546
1,326,840

3,760,579
1,813,483

6,818,232
2,318,293

7,229,244
3,237,019

7,357,164
3,385,656

1,180,756
1,258,342

6,152,731
1,977,901

10,400,557
2,799,878

8,801,223
3,749,893

0
4,350,851

0
5,225,628

5,276,112
2,457,130

5,356,139
2,297,361

7,515,394
1,421,950

13,955,954
5,869,699

7,224,931
430,508

8,602,730
511,439

2,818,982
1,947,459

3,058,778
6,663,200

6,093,444
16,125,907

8,086,255
17,965,664

6,794,423
20,322,878

8,091,291
16,531,678

7,970,577

7,956,291

1,947,459

6,663,200

16,125,907

17,965,664

0
12,352,301

167
8,575,220

13,008,643
1,659,614

19,627,578
1,803,436

24,557,918
1,904,321

22,981,844
2,164,227

29,539,409
3,844,732

36,535,051
3,844,731

1,659,614
0
11,349,029

1,803,436
0
17,824,142

1,904,321
0
22,653,597

2,164,227
0
20,817,617

2,238,857
1,605,875
25,449,253

2,238,856
1,605,875
32,446,922

25,449,253

32,446,922

245,424

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

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

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,079,800

1,187,914

1,185,201

1,303,203

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

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

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%
23.7%

19.1%

Billion Rs

40
10.5%

7.1%

30

20%

10%
0%

20

-10%

10

-18.7%

-20%
-30%

0
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

150%

148.0%

Billion Rs

30

100%

25
28.0%

20

50%

15

0%

10
-50%

5
-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

0
Return on
Capital
Emloyed

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

22,880

22,880

22,880

22,880

22,880

6,301
621

5,741
560

5,237
504

4,783
454

4,374
409

4,006
368

7,236

6,874

7,885

7,422

113
8,155

113
9,448

2,038

1,548

2,665

2,306

4,546

0
0

0
0

0
0

0
0

3,178

0
5,198

0
5,326

0
5,220

0
5,116

0
4,977

0
4,902

28,515
0

27,367
0

27,390
0

25,860
0

769

760

28,515
0

27,367
0

27,390
0

25,860
0

769
25,000

760
25,000

25,000

4,119

0
25,000

(14,978)
30,000

(14,752)
30,000

(14,268)
30,000

(13,655)
30,000

(13,127)
30,000

(12,193)
30,000

30,000
0
(44,978)

30,000
0
(44,752)

30,000
0
(44,268)

30,000
0
(43,655)

30,000
0
0

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

111,003

111,625

111,794

111,353

111,353

74,809
5,798

73,416
5,322

69,106
4,932

64,726
4,550

60,471
4,144

56,669
3,801

223,741

231,187

238,171

243,669

92
249,609

73
251,103

56,742

2,599

1,236

1,271

197

118

90

213,362
0

222,519
0

230,326
0

236,946
0

243,595

245,568

0
7,780

0
7,432

0
6,574

0
6,526

0
5,896

0
5,445

309,769
116,841

321,806
114,937

326,600
101,531

329,165
101,531

255,405

255,595

192,928
177

206,869
80

225,069
0

227,634
0

255,405
71,261

255,595
71,284

71,284

177

80

0
71,261

(11,396)
30,000

(17,283)
30,000

(19,323)
30,000

(20,770)
30,000

(16,494)
30,000

(19,034)
30,000

30,000
0
(41,396)

30,000
0
(47,283)

30,000
0
(49,323)

30,000
0
(50,770)

30,000
0
(46,494)

30,000
0
(49,034)

(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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,448

1,552

1,870

1,440

5,104
1,776
2,489
1,731
758

0
0
4,668
180
4,488
143

3,758

3,325

171

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

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

H.Key Performance Indicators

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

2,111,440

3,377,138

8,596,373

10,881,147

10,701,086

10,140,633

3,392,807

4,904,153

10,232,680

5,900,257

296,362
12,902,270

28,416
13,330,594

2,110,944
206,547

3,376,930
246,486

8,589,883
246,484

10,855,498
288,791

10,157,985
696,224

9,850,801
743,407

496

208

6,490

25,649

49,664

41,463

732,853

1,061,371

1,040,925

2,521,390

197,075
3,076,057

219,953
3,928,645

31,231

21,775

21,806

16,474

406,851

264,930

335,127
180,142

424,940
216,038

455,862
280,801

1,496,478
413,171

1,357,453
504,129

1,868,914
759,663

0
186,353

165,595
233,023

0
282,456

0
595,267

0
807,624

0
1,035,138

827,770
341,714

1,177,020
571,796

3,151,875
567,553

4,948,487
1,643,545

3,003,665

3,949,721

486,056
533,077

605,224
440,476

2,584,322
3,580,952

3,304,942
5,521,428

3,003,665
8,895,000

3,949,721
5,225,000

5,225,000

533,077

440,476

3,580,952

5,521,428

0
8,895,000

1,483,446
321,288

2,821,013
642,576

2,904,471
642,576

2,932,622
706,834

1,878,478
706,834

4,894,557
706,834

321,288
0
1,162,158

642,576
0
2,178,437

642,576
0
2,261,895

706,834
0
2,225,788

706,834
0
1,171,644

706,834
0
4,187,723

1,171,644

4,187,723

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

7,152,092
7,152,092

9,702,311
9,702,311

491,809
116,140

458,615
121,777

305,584
128,696

318,366
221,743

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

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

8,267,717
5,270,028
2,997,689
1,434,594
297,198
79,532
217,666

427,758
1,300,208

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

172,156

165,461

152,484

196,061

398,516

378,106

250,293

255,943

256,852

312,948

4,166
526,608

535,580

172,156
7,033

165,461
13,592

152,484
13,910

196,061
13,270

389,641
20,080

369,619
37,721

541
2,994

5,143
2,040

415,627

533,936

717,797

1,344,889

1,174
1,117,554

1,304
742,856

53,020

39,170

19,998

9,829

7,905

7,264

198,048
94,811

297,100
118,260

513,143
106,236

973,484
4,354

700,688
245,388

386,135
229,308

31,142
38,606

44,428
34,978

50,181
28,239

50,471
306,751

0
163,573

120,149

190,002
114

320,562
135,511

445,688
146,458

1,088,448
736,764

993,912

551,753

189,888
100,000

185,051
75,000

299,230
50,000

351,684
25,000

993,912
143,882

551,753
95,568

95,568

100,000

75,000

50,000

25,000

0
143,882

297,781
48,960

303,835
58,752

374,593
58,752

427,502
73,440

378,276
91,800

473,641
91,800

48,960
0
248,821

58,752
0
245,083

58,752
0
315,841

73,440
0
354,062

91,800
0
286,476

91,800

286,476

381,841

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

2,060,614
2,060,614

1,985,235
1,985,235

75,976
34,637

39,593
21,630

163,083
32,982

178,154
35,024

381,841

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

34,637

21,630

32,982

35,024

1,919,207
1,821,762
97,445
141,407
33,243
20,253
12,990

1,774,572
1,605,505
144,041
210,663
48,121
25,026
23,095

6,726
176,748
160,348
(58,351)
23,140

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

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

69,916

69,953

60,291

61,486

61,486

20,606
2,655

59,551
5,995

54,290
5,298

47,805
4,841

36,961
2,377

36,961
2,377

40,722

33,158

38,762

34,810

4,418
28,928

4,418
28,928

41,379

667

806

320

285

291

291

4,020
27,854

11,001
8,502

4,837
17,977

0
20,445

2,408
20,841

2,408
20,841

0
8,181

0
12,849

0
15,628

0
14,080

0
5,388

0
5,388

10,939
1,039

17,116
2,550

18,512
2,932

25,182
5,841

16,677

16,677

9,900
4,964

14,566
15,423

15,580
12,660

19,341
8,760

16,677
12,346

16,677
12,346

4,964

15,423

12,660

8,760

12,346

12,346

45,425
40,000

60,170
40,000

61,880
40,000

48,673
40,000

41,284
40,000

41,284
40,000

40,000
0
5,425

40,000
0
20,170

40,000
0
21,880

40,000
0
8,673

40,000
0
1,284

40,000
0
1,284

1,284

1,284

100,272
100,272
0
86,799

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

4,561

1,375

1,375

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

(4,161)

(4,161)

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

357,736

393,771

420,340

605,166

699,861

663,143

420,778

493,606

555,573

743,117

2,567
865,666

2,880
873,720

357,736
16,034

393,771
32,424

419,538
34,090

602,370
31,903

682,915
44,727

649,865
49,309

802

2,796

4,824

3,843

126,642

115,693

121,982

236,840

9,555
282,561

6,555
517,508

309

233

270

696

583

499

58,872
37,783

56,717
26,292

61,714
26,755

110,681
55,751

111,183
100,767

253,640
180,821

0
29,678

0
32,451

0
33,243

0
69,712

0
70,028

0
82,548

131,906
82,034

155,335
92,852

183,784
100,736

504,593
140,579

344,074

476,224

49,872
148,467

62,483
132,221

83,048
118,511

364,014
88,234

344,074
382,371

476,224
467,142

148,467

132,221

118,511

88,234

0
382,371

467,142

204,005
27,495

221,908
27,495

240,027
27,495

249,179
41,242

255,977
47,429

237,285
47,428

27,495
0
176,510

27,495
0
194,413

27,495
0
212,532

41,242
0
207,937

47,429
0
71,210

47,428
0
53,364

71,210

53,364

137,338

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

985,226
786,327
198,899
90,878
44,354
18,366
25,988

76,377
67,605
66,643
(56,217)
18,872

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

6,267,638

13,233,166

18,188,354

19,466,067

27,872,034

31,430,629

10,760,304

18,093,433

23,566,349

25,665,119

65,578
27,427,520

753,328
27,671,781

6,262,338
399,462

13,230,634
376,408

18,187,991
554,240

19,465,826
885,611

19,513,093
1,368,499

18,209,643
1,582,728

5,300

2,532

363

241

16,605
4,561,548

16,099
8,681,184

5,352,766

9,440,310

15,250,089

15,568,566

3,715,210
8,746,472

3,770,375
9,461,682

2,019,950

106,703

101,022

199,188

497,313

1,166,449

1,144,043
784,638

1,647,173
821,160

2,206,191
1,288,928

3,652,261
1,523,049

4,483,990
2,031,990

4,163,403
1,947,316

708,957
695,178

5,775,665
1,089,609

10,080,259
1,573,689

8,362,485
1,831,583

0
1,733,179

0
2,184,514

2,867,455
1,607,879

3,000,679
1,281,708

2,921,171
401,019

6,457,661
3,137,819

2,239,661
430,508

2,943,732
511,439

1,259,576
1,000,851

1,718,971
6,000,000

2,520,152
12,346,500

3,319,842
12,304,400

1,809,153
10,634,454

2,432,293
10,469,015

7,970,577

7,956,291

1,000,851

6,000,000

12,346,500

12,304,400

0
2,663,877

167
2,512,557

7,752,098
698,795

13,672,797
698,795

18,170,772
733,735

16,272,572
843,795

23,744,391
2,449,670

27,479,564
2,449,670

698,795
0
7,053,303

698,795
0
12,974,002

733,735
0
17,437,037

843,795
0
15,428,777

843,795
1,605,875
21,294,721

843,795
1,605,875
25,029,894

21,294,721

25,029,894

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

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

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

635,253

880,026

852,768

874,938

185,529

116,924

413,266

1,662,094

304,072
1,267,253
839,218
119,176
210,331
274,233
0
609,367

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

224,906

190,141

192,646

188,319

232,043

241,039

9,707
250,223

190,106
3,572

187,602
4,448

217,734
7,561

212,030
8,122

213,278
7,796

214,983
7,984

81,754

102,090

117,196

139,440

2,586
136,569

216
155,666

22,272

21,031

20,886

16,538

12,404

5,906

36,271
19,418

47,149
28,194

60,256
28,747

74,973
37,124

65,329
43,615

79,329
44,687

0
3,793

0
5,716

0
7,307

0
10,805

0
15,221

0
25,744

31,453
0

34,181
0

46,900
3,714

61,470
4,275

33,752

41,247

31,453
0

34,181
0

43,186
17,284

57,195
12,994

33,752
17,948

41,247
10,063

10,063

17,284

12,994

0
17,948

240,407
25,000

255,511
25,000

270,746
25,000

277,006
25,000

300,733
37,500

329,262
37,500

25,000
0
215,407

25,000
0
230,511

25,000
0
245,746

25,000
0
252,006

37,500
0
113,567

37,500
0
142,664

113,567

142,664

149,666

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

13,026

18,320

17,676

18,018

241,232
181,328
59,904
70,797
22,462
6,937
15,525

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,372,997

1,310,034

1,244,199

1,205,059

1,281,461

1,261,622

1,585,023

1,615,514

1,648,193

1,697,237

3,044
1,857,123

1,948,628

1,372,997
93,951

1,310,034
95,539

1,244,199
98,514

1,205,059
101,265

1,261,660
103,793

1,244,364
114,490

818,547

1,182,166

1,584,043

1,989,340

16,757
2,166,062

17,258
2,372,344

154,955

185,127

178,977

158,074

69,388

49,757

143,543
110,628

169,947
108,132

228,250
63,777

273,409
264,137

261,420
290,289

357,767
203,020

354,213
55,208

167,043
551,917

270,117
842,922

388,267
905,453

0
1,544,965

0
1,761,800

172,794
0

189,063
0

280,464
0

402,078
1,338

337,016

367,021

172,794
0

189,063
0

280,464
0

400,740
4,848

337,016
140,616

367,021
156,260

156,260

4,848

0
140,616

2,018,750
219,818

2,303,137
219,818

2,547,778
285,763

2,787,473
342,916

2,969,891
411,499

3,110,685
411,499

219,818
0
1,798,932

219,818
0
2,083,319

285,763
0
2,262,015

342,916
0
2,444,557

411,499
0
2,556,845

411,499
0
2,699,186

2,556,845

2,699,186

1,547

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

167,681

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

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

11,289,695

19,904,242

20,308,812

7,471,960

8,590,256

11,085,144

0
14,168,490

128,627
20,927,684

188,688
22,280,029

4,971,421
347,026

5,841,762
410,069

7,906,371
544,027

10,698,965
660,410

16,707,172
612,257

17,226,825
1,113,774

304,835

635,661

593,127

587,306
3,424

522,249
194,121

464,098
184,662

15,162,319

21,554,463

27,430,373

0
37,353,866

2,352,073
32,725,016

2,244,539
35,857,336

2,205,484

2,615,127

4,241,685

4,159,527

1,948,194

2,065,850

5,736,715
4,601,843

6,637,279
9,028,848

7,747,723
11,169,330

10,425,175
16,927,798

9,362,178
18,172,862

10,621,963
20,022,204

76,969
2,541,308

555,654
2,717,555

76,300
4,195,335

144,522
5,696,844

80,859
3,160,923

81,357
3,065,962

12,824,415
4,498,422

19,478,010
6,084,953

22,106,254
7,428,879

30,623,393
7,143,418

27,181,551
5,580,304

29,076,297
6,665,140

8,325,993
717,159

13,393,057
696,194

14,677,375
1,964,076

23,479,975
3,288,182

21,601,247
8,266,180

22,411,157
9,021,516

86,708

4,451,131

5,363,189

0
0

66,319
0

71,636
0

717,159

696,194

1,964,076

0
3,201,474

21,706
3,727,024

20,065
3,566,626

6,897,001
1,801,858

7,857,682
1,939,693

11,859,541
2,258,528

14,731,986
2,466,022

17,181,527
2,413,651

18,068,335
2,519,208

1,196,858
605,000
5,095,143

1,334,693
605,000
5,917,989

1,653,528
605,000
9,601,013

1,939,772
526,250
12,154,980
0
(61,986)

2,413,651
0
9,733,929
916,999
8,653,487

2,519,208
0
10,285,824
917,896
9,171,374

110,984

5,033,947

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

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

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

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

3,429,402
1,261,239
400,617
2,558,610
884,203
771,367
1,042,684
(461,772)

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

2,114,384

2,799,977

3,223,428

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

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

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

12%

40
35
30
25
20
15
10
5
0

9.6%

10%

9.1%

7.0%

8%
6%
5.2%
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%

30%

Billion Rs

50

20%

40

10%

30
0%

6.2%

20

-10%
-20.9%

10

-20%
-30%

0
Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
16.03

2009

2009

2010

5.57

11.48

11.77

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

0
Return on
Capital
Emloyed

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

112,340

119,389

138,978

157,255

38,044
4,166

35,968
0

38,058
4,343

40,704
4,699

54,907
84,070

66,101
91,154

78,315

228,564

344,732

280,290

0
492,297

2,111
306,037

15,895

34,797

263,757

114,400

226,438

122,032

3,264
36,569

3,265
163,642

3,265
65,515

128,457
128,457

3,265
205,997

3,265
121,520

0
22,587

0
26,860

0
12,195

15,960
(106,984)

16,488
40,109

17,385
41,835

45,733
413

188,865
0

312,961
0

243,376
0

411,201

221,493

45,320
0

188,865
0

312,961
0

243,376
0

411,201
6,026

221,493
2,760

68,212

0
0

2,491
3,535

2,760

0
70,626
65,826

75,667
65,826

69,829
65,826

77,618
65,826

129,977
65,826

149,996
65,826

65,826
0
4,800

65,826
0
9,841

65,826
0
4,003

65,826
0
11,792

65,826
0
64,151
1,488
62,663

65,826
0
84,170
2,385
81,785

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

795,783
795,783

535,180
535,180

35,450
27,107

35,782
24,166

87,995
66,091

52,138
43,389

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

27,107

24,166

66,091

43,389

647,225
577,996
69,229
148,558
82,111
41,376
40,735

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

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

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

151,967

162,242

254,064

250,021

253,640

114,991
5,702

122,845
1,109

124,414
8,798

219,850
10,126

209,386
9,827

199,475
9,986

84,588

113,762

189,695

206,224

1,213
173,548

1,561
175,583

201,036

3,862

3,826

10,252

14,232

4,110

5,574

38,116
9,180

40,935
14,935

43,825
55,472

58,693
30,900

64,088
30,902

74,664
24,974

0
33,430

0
54,066

9,000
71,146

9,000
93,399

0
74,448

0
70,371

163,812
29,103

210,173
1,439

178,318
0

177,889
10,300

208,016
66,200

204,314
66,200

134,709
14,978

208,734
3,506

178,318
94,606

167,589
79,199

141,816
74,398

138,114
78,054

14,978

3,506

94,606

20,789
54,500

22,928
54,500

54,500
0
(33,711)

66,319
0

71,636
0

79,199

0
8,079

0
6,418

41,185
54,500

168,986
54,500

101,733
54,500

94,251
54,500

54,500
0
(31,572)

54,500
0
(13,315)

54,500
0
114,486

54,500
0
(84,476)
29,727
(114,203)

54,500
0
(90,704)
29,727
(120,431)

131,709

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

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit 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

102,431
85,181
17,250
24,750
30,138
5,300
24,838

20,579
9,544
966
(17,158)
676

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

4,346,617

5,425,576

7,768,802

15,467,498

16,129,509

2,716,401
146,621

3,144,904
162,275

4,046,378
201,238

6,231,129
216,451

13,457,138
216,580

13,434,709
698,015

249,880

602,465

581,705

573,617

511,134
22,906

457,744
13,447

5,045,416

6,360,372

6,918,696

9,488,457

92,152
8,851,890

75,515
11,548,724

13,981,415

335,261

448,934

536,574

434,484

123,263

343,753

1,956,566
1,853,889

2,576,026
2,614,396

2,507,679
2,947,646

3,571,168
4,207,741

3,826,744
3,227,219

5,652,089
3,924,775

60,711
838,989

11,227
709,789

12,474
914,323

52,945
1,222,119

0
1,674,664

0
1,628,107

4,714,767
3,292,825

6,527,926
4,221,968

5,980,918
3,289,151

8,079,773
4,078,256

7,191,289
4,334,131

9,005,974
5,413,223

1,421,942
512,264

2,305,958
432,852

2,691,767
1,501,246

4,001,517
2,570,444

2,857,158
7,183,256

3,592,751
7,795,559

4,079,149

4,954,333

0
0

0
0

512,264

432,852

1,501,246

2,570,444

3,104,107

2,841,226

2,784,666
1,136,194

3,146,963
1,215,173

4,064,615
1,368,591

5,642,986
1,496,677

8,560,675
1,593,720

8,728,606
1,668,264

531,194
605,000
1,648,472

610,173
605,000
1,931,790

763,591
605,000
2,696,024

970,427
526,250
4,146,309

1,593,720
0
2,593,186

1,668,264
0
2,897,716

2,461,255

2,733,582

4,373,769

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

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

354,793
619,911
224,561
221,894
60,643

958,267
1,623,611
741,194
261,208
72,184

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

756,619

995,226

1,215,459

1,643,567

753,477

753,477

1,007,896

1,274,921

1,549,328

2,030,932

91,608
916,682

91,608
916,682

756,619
17,307

995,226
33,138

1,215,459
59,391

1,643,567
73,044

493,340
21,632

493,340
21,632

0
167,791

0
167,791

1,055,999

1,723,036

1,763,662

1,702,333

738
559,658

738
559,658

26,463

248,021

7,391

23,743

35,036

35,036

723,868
246,216

984,364
392,953

1,133,430
504,951

1,018,606
397,375

203,171
84,050

203,171
84,050

9,110
50,342

37,401
60,297

47,932
69,958

66,617
195,992

63,828
173,573

63,828
173,573

955,596
439,561

1,598,590
653,110

1,691,576
1,026,510

1,736,609
1,151,773

524,513
214,684

524,513
214,684

516,035
0

945,480
84,999

665,066
135,784

584,836
270,770

309,829
339,086

309,829
339,086

133,334

133,334

0
0

0
0

84,999

135,784

270,770

0
205,752

0
205,752

857,022
58,534

1,034,673
97,556

1,151,761
146,334

1,338,521
195,112

449,536
63,888

449,536
63,888

58,534
0
798,488

97,556
0
937,117

146,334
0
1,005,427

195,112
0
1,143,409

63,888
0
256,592
256,592
0

63,888
0
256,592
256,592
0

129,056

129,056

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

1,803,234
1,803,234
0
1,471,620
1,229,396
242,224
331,614
69,309
2,571
66,738

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

120,891

174,547

247,212

369,382

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

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

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

341,947

313,090

313,090

353,305

434,199

438,913

0
451,649

2,144
451,761

2,144
451,761

339,547
15,825

386,165
35,407

356,428
36,250

338,523
113,125

307,522
31,113

307,522
31,113

0
3,424

0
3,424

0
3,424

303,470

270,714

300,578

0
311,005

0
267,581

0
267,581

1,495

9,847

2,825

4,599

1,286

1,286

150,315
41,365

135,253
13,107

188,791
68,036

212,174
57,935

210,617
28,273

210,617
28,273

0
110,295

0
112,507

0
40,926

0
36,297

0
27,405

0
27,405

428,839
115,695

369,439
135,477

393,828
94,853

240,214
100,761

276,990
77,583

276,990
77,583

313,144
4,783

233,962
25,133

298,975
10,857

139,453
153,740

199,407
148,097

199,407
148,097

86,708

95,522

95,522

0
0

0
0

0
0

4,783

25,133

10,857

0
67,032

0
52,575

0
52,575

209,398
210,000

262,309
210,000

252,322
210,000

258,998
210,000

155,584
210,000

155,584
210,000

210,000
0
(602)

210,000
0
52,309

210,000
0
42,322

210,000
0
(61,986)
0
(61,986)

210,000
0
(157,971)
0
(157,971)

210,000
0
(157,971)
0
(157,971)

110,984

103,555

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

783,545
783,545
0
714,921
660,538
54,383
68,624
38,206
6,924
31,282

125,243
125,243
0
165,327
140,247
25,080
(40,084)
25,387
2,125
23,262

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

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

32,117

28,374

30,924

5,343
3,414
0
0

(12,829)
4,619
0
0

(5,953)
4,620
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

657,268

770,362

1,539,375

1,595,715

3,878,182

3,794,372

1,421,903

1,664,629

2,508,738

2,679,656

8,686
2,926,093

62,009
3,041,230

602,876
128,276

737,990
152,186

1,532,620
199,333

1,589,664
205,733

1,653,814
214,154

1,616,513
226,575

54,392

32,372

6,755

6,051

6,032
0

2,747
0

7,231,227

11,283,961

16,041,641

23,179,667

2,209,650
20,380,263

2,113,103
20,746,763

1,743,760

1,767,308

3,311,908

3,407,239

1,403,094

1,396,266

2,337,479
1,760,093

2,285,213
5,098,330

3,166,741
6,634,051

4,588,682
11,127,285

4,367,431
13,583,392

3,734,297
14,665,339

0
1,389,895

500,000
1,633,110

0
2,928,941

0
4,056,461

0
1,026,346

0
950,861

5,399,590
104,584

9,324,127
503,690

12,229,594
2,357,180

18,487,125
907,909

17,149,395
155,706

17,201,035
16,108

5,295,006
0

8,820,437
0

9,872,414
0

17,579,216
0

16,993,689
197,857

17,184,927
171,675

0
0

0
0

14,042
183,815

13,376
158,299

2,488,905
77,696

2,730,196
77,696

5,351,422
82,470

6,288,257
82,470

6,911,193
82,470

7,168,425
82,470

77,696
0
2,411,209

77,696
0
2,652,500

82,470
0
5,268,952

82,470
0
6,205,787

82,470
0
6,828,723
624,192
6,204,531

82,470
0
7,085,955
624,192
6,461,763

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

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

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

1,067,639

1,428,822

1,557,403

1,668,285

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

99,808

111,134

161,581

219,851

263,289

716,495

229,506

249,367

306,043

278,569

26,189
370,124

32,927
822,674

99,248
11,538

110,312
11,535

156,915
13,627

212,213
18,048

184,310
21,121

629,062
22,547

560

822

4,666

7,638

5,083

3,607
0

942,177

1,125,511

1,401,045

1,640,092

47,707
1,609,991

50,899
1,831,867

61,307

72,534

99,413

129,094

142,665

159,056

229,383
588,760

305,452
675,897

393,286
808,842

501,985
887,628

456,583
923,587

510,200
1,053,140

7,148
55,579

7,026
64,602

6,894
92,610

0
121,385

0
87,156

0
109,471

673,774
401,007

831,445
467,799

951,707
546,347

1,204,838
762,763

1,160,329
672,909

1,339,354
817,857

272,767
142,381

363,646
149,704

405,360
221,583

442,075
213,208

487,420
239,975

521,497
402,496

143,126

180,000

0
0

142,381

149,704

221,583

213,208

5,173
91,676

3,929
218,567

225,830
113,339

255,496
133,173

389,336
245,038

441,897
275,668

472,976
310,127

806,512
341,140

113,339
0
112,491

133,173
0
122,323

245,038
0
144,298

275,668
0
166,229

310,127
0
162,849
5,000
126,337

341,140
0
159,757
5,000
122,337

305,615

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

1,999,476
1,977,562
21,914
1,559,932
155,270
1,404,662
439,544
257,552
200,449
57,103

2,158,168
2,105,658
52,510
1,656,501
122,413
1,534,088
501,667
294,176
237,933
56,243

154,104
165,177
42,094
20,716
5,213

154,766
176,516
40,817
39,940
12,019
3,070,260
219,487
(103,192)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax provision (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

132,380

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

188,474
28,734

368,211
0
11,646
401,007

405,200
0
32,830
467,799

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

0.98
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

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

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

H.Key Performance Indicators

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

294,444

406,859

406,432

406,527

507,278

253,888
12,874

243,612
11,618

374,597
16,817

360,420
15,317

346,755
13,760

480,103
12,752

327,767

351,888

363,552

375,203

613
389,788

612
421,123

480,715

11,882

23,878

1,384

6,760

12,302

2,847

242,968
39,463

246,938
32,418

251,860
53,634

250,946
58,517

230,279
89,442

233,660
120,133

0
33,454

0
48,654

0
56,674

0
58,980

543
57,222

144
64,339

362,876
66,448

349,332
48,038

286,246
59,826

309,803
58,781

259,818
59,091

302,624
59,485

296,428
42,725

301,294
0

226,420
0

251,022
821

200,727
77,485

243,139
83,789

42,725

821

77,485

0
83,789

176,054
33,120

246,168
33,120

451,903
33,120

424,999
33,120

399,853
33,120

515,425
33,120

33,120
0
142,934

33,120
0
213,048

33,120
0
418,783

33,120
0
391,879

33,120
0
70,875

33,120
0
50,309

70,875

50,309

295,858

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

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

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

249,559
199,119
50,440
21,074
43,074
22,884
20,190

36,101
11,476

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

13,415,318

14,001,837

15,907,712

16,308,599

24,944,143

38,931,210

16,330,274

17,127,632

19,282,729

20,127,519

205,355
21,193,988

241,903
32,705,019

13,415,318
324,943

14,001,489
387,803

15,906,208
380,235

16,297,834
466,305

16,547,763
1,127,676

28,302,918
1,229,563

348

1,504

10,765

79,592
6,897,089

70,313
8,836,445

3,687,090

4,363,919

7,537,900

13,174,698

1,214,344
6,155,964

1,479,631
5,976,885

373,392

797,974

1,154,779

1,894,262

786,090

607,387

316,607
253,237

473,724
516,178

950,581
1,063,512

1,574,736
1,792,733

1,844,388
2,093,197

1,472,468
2,334,581

490,797
2,253,057

964,109
1,611,934

3,261,349
1,107,679

6,829,502
1,083,465

0
1,432,289

0
1,562,449

3,323,142
919,042

4,017,236
1,086,098

4,366,474
695,106

7,055,158
919,280

4,054,070
1,342,606

4,633,526
1,535,505

2,404,100
1,435,351

2,931,138
1,035,531

3,671,368
1,020,886

6,135,878
2,374,021

2,711,464
5,416,840

3,098,021
4,938,208

1,891,609

2,225,325

499,700

304,489

99,940

1,499,400

305,841
1,907,965

144,482
1,176,425

935,651

731,042

920,946

874,621

273,624
1,037,801

270,527
1,121,449

12,343,915
1,576,362

13,312,989
1,582,962

18,058,252
3,777,931

20,054,118
3,808,698

21,629,197
4,196,490

35,336,361
4,657,036

1,576,362
0
10,767,553

1,582,962
0
11,730,027

3,777,931
0
14,280,321

3,808,698
0
16,245,420

4,196,490
0
6,087,741
2,554,657
3,533,084

4,657,036
0
7,977,037
2,840,132
5,136,905

11,344,966

22,702,288

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

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

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

1,267,841

1,221,699

1,614,997

2,302,979

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

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

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

2009
20.51

5.93

5.26

2010

20

5
4
3
2
1
0

3.71
2.55

Percentage

Percentage

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%

15

3.13

8.23

10
5

Return on
Return on
Assets
Equity

3.59
1.52 1.29 0.44
0.27

1.27

0
Return on
Capital
Emloyed

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

12,396

6,808

6,574

6,209

6,216

6,216

41,988

18,687

18,847

18,847

0
19,165

0
19,165

12,396
977

6,808
790

6,574
393

6,209
366

6,158
369

6,158
369

0
0

0
0

5,818

7,903

6,330

7,649

58
6,631

58
6,631

2,308

2,622

591

736

503

503

2,229
216

4,469
69

4,331
346

4,819
86

3,437
210

3,437
210

0
1,065

0
743

0
1,062

0
2,008

0
2,481

0
2,481

66,887
0

59,390
0

57,037
0

56,969
0

57,661
0

57,661
0

66,887
0

59,390
0

57,037
0

56,969
0

57,661
0

57,661
0

0
0

0
0

0
0

0
0

(48,673)
23,228

(44,679)
23,228

(44,133)
23,228

(43,111)
23,228

(44,814)
23,228

(44,814)
23,228

23,228
0
(71,901)

23,228
0
(67,907)

23,228
0
(67,361)

23,228
0
(66,339)

23,228
0
(68,042)
0
(68,042)

23,228
0
(68,042)
0
(68,042)

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

3,404
3,404
0
1,853
1,853
0
1,551
3,250
194
3,056

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

9,489

3,274

1,396

858

(4,844)
26
0
0

4,013
20
0
0

570
24
0
0

1,040
17
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

366,251

409,789

443,925

431,707

429,129

409,625

471,913

543,613

615,657

639,147

21,272
649,665

9,691
671,853

366,251
16,874

409,789
34,100

443,925
38,768

431,707
36,709

407,132
35,093

399,207
33,239

0
0

0
0

25,857

31,275

44,885

44,846

725
50,855

727
40,216

5,339

11,687

11,595

7,325

6,903

5,453

0
5,265

0
5,054

2,021
6,167

0
8,958

2,360
11,121

7,861
16,609

0
15,253

0
14,534

0
25,102

0
28,563

0
30,471

0
10,293

55,253
0

95,818
0

140,380
0

136,261
0

31,468
0

38,678
0

55,253
0

95,818
0

140,380
0

136,261
0

31,468
103,273

38,678
64,108

336,855
320,000

345,246
320,000

320,000
0
16,855

92,800
0

54,750
0

1,909
8,564

1,995
7,363

348,430
320,000

340,292
320,000

345,243
320,000

347,055
320,000

320,000
0
25,246

320,000
0
28,430

320,000
0
20,292

320,000
0
25,243
0
25,243

320,000
0
27,055
0
27,055

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

314,168
314,168
0
244,299
244,299
0
69,869
64,475
12,743
51,732

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

28,747

48,178

58,817

54,869

8,821
1,074
0
0

10,831
2,425
0
0

10,205
1,960
0
0

(7,954)
1,625
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

44,728

147,018

166,393

145,353

319,110

312,895

135,000

241,481

248,284

186,945

0
272,923

0
272,621

44,728
4,399

147,018
4,428

166,393
5,421

145,353
4,119

226,046
5,284

220,544
5,376

0
91,719

0
92,026

221,691

300,346

385,871

425,583

1,345
391,268

325
348,561

30,827

58,933

48,527

22,207

72,551

37,540

0
0

197,026
0

0
262,247

0
258,721

18,065
0

12,949
0

21,678
169,186

15,826
28,561

6,500
68,597

61,350
83,305

0
300,652

0
298,072

218,096
11,145

312,519
34,880

431,704
15,625

427,015
447

240,676
4,925

225,416
4,925

206,951
1,944

277,639
922

416,079
290

426,568
627

235,751
7,299

220,491
6,384

0
0

0
0

1,944

922

290

627

6,835
464

6,137
247

46,379
50,000

133,923
50,000

120,270
50,000

143,294
80,761

462,403
282,662

429,656
282,662

50,000
0
(3,621)

50,000
0
83,923

50,000
0
70,270

80,761
0
62,533

282,662
0
(30,596)
15,380
(45,976)

282,662
0
(60,434)
15,380
(75,814)

210,337

207,428

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

255,363
255,363
0
230,637
76,630
154,007
24,726
29,781
465
29,316

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

21,191

18,606

25,868

37,599

3,428
10,530
0
0

13,513
16,007
0
0

24,852
31,940
0
0

(34,977)
6,000
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,103

1,021

945

867

803

768

7,109

7,109

7,109

6,993

0
6,993

0
6,385

1,103
86

1,021
86

945
75

867
70

757
60

705
52

0
33

0
50

25,919

25,700

25,515

25,596

13
25,689

13
25,709

493

236

36

80

12,724
0

0
0

0
0

12,724
0

12,724
0

12,724
0

1
12,701

40
25,424

53
25,426

91
12,701

0
12,960

0
12,980

7,768
0

7,771
0

7,786
0

7,898
0

0
0

0
0

7,768
0

7,771
0

7,786
0

7,898
0

0
8,038

0
8,243

0
0

0
0

0
8,038

0
8,243

19,254
32,000

18,950
32,000

18,674
32,000

18,565
32,000

18,454
32,000

18,234
32,000

32,000
0
(12,746)

32,000
0
(13,050)

32,000
0
(13,326)

32,000
0
(13,435)

32,000
0
(13,546)
10,627
(24,173)

32,000
0
(13,766)
10,627
(24,393)

145
145
0
207

0
0
0
0

0
0
0
0

0
0
0
0

(62)
612

0
345

0
290

0
332

0
0
0
0
0
0
0
230
0
230

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

612

345

290

332

(665)
40
0
0

(341)
1
0
0

(289)
0
0
0

(147)
0
0
0

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

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

H.Key Performance Indicators

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

2005

2006

2007

2008

(Thousand Rupees)
2009
2010
75,116

182,450

0
21,550

0
138,121

4,490
2,818

121,067
2,189

69,641
0

60,941
0

985
268,184

442
188,943

42,838

28,640

112,859
64,480

111,244
33,558

0
48,007

0
15,501

96,903
0

115,322
0

96,903
7,372

115,322
7,953

0
0

0
0

7,000
372

7,953
0

239,025
200,000

248,118
200,000

200,000
0
39,025
0
39,025

200,000
0
48,118
0
48,118

414,882
414,882
0
375,986
0
375,986
38,896
48,370
33,380
14,990

475,248
475,248
0
362,174
0
362,174
113,074
101,078
83,530
17,548

14,686
668
384
(8,339)
7,323
0
0
31,105

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

257,688

510,916

6,474,944

8,513,862

311,854

575,480

71,127
577,191

6,672
693,519

256,406
13,264

500,373
21,812

474,066
33,739

550,444
42,786

1,282

10,543

9,951
5,465,782

9,372
7,300,247

3,547,871

8,050,206

454,018
3,474,664

647,127
3,373,427

307,943

1,314,880

341,282

177,505

751,408
310,506

1,189,809
974,764

1,496,754
1,559,785

1,111,571
1,714,345

1,751,329
426,685

4,181,118
389,635

0
76,843

0
370,006

575,749
109,268

2,480,964
44,843

362,747
35,011

1,064,004
135,958

466,481
54,794

2,436,121
1,519,452

327,736
3,827,813

928,046
3,216,257

1,535,175

1,755,763

1,499,400

202,980
1,907,965

82,328
1,176,425

54,794

20,052

33,814
147,879

33,236
168,505

3,175,016
2,204,650

4,560,706
2,204,656

5,759,048
2,328,220

7,607,028
2,788,766

2,204,650
0
970,366

2,204,656
0
2,356,050

2,328,220
0
3,430,828
418,019
3,012,809

2,788,766
0
4,818,262
675,936
4,142,326

612,651
612,651
0
381,151

1,523,872
1,523,872
0
983,974

231,500
143,074

539,898
331,350

1,535,295
1,535,295
0
1,239,402
1,239,402
0
295,893
312,345
6,724
305,621

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

143,074

331,350

550,958
3,815
385,814
0

1,434,027
11,023
0
0

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,155,764

1,273,272

2,469,004

2,436,112

2,400,673

2,360,573

1,321,487

1,487,117

2,614,195

2,628,269

5,275
2,627,562

8,042
2,627,487

1,155,764
46,899

1,273,272
48,122

2,469,004
46,742

2,436,112
49,797

2,392,948
46,357

2,350,081
43,378

0
0

0
0

198,539

106,656

115,119

153,011

2,450
102,400

2,450
146,684

49,247

28,028

48,810

76,522

65,533

74,580

409
30,215

471
46,803

521
51,177

557
39,350

1,564
24,753

1,735
35,489

104,005
14,663

7,378
23,976

0
14,611

19,334
17,248

0
10,550

0
34,880

343,293
111,980

400,653
129,818

280,986
19,771

268,087
6,105

44,678
0

42,361
0

231,313
88,757

270,835
897

261,215
1,236

261,982
882

44,678
216,059

42,361
204,736

88,757

897

1,236

922,253
180,000

978,378
180,000

180,000
0
742,253

180

10,061
0

7,404
0

882

0
205,818

0
197,332

2,301,901
180,000

2,320,154
180,000

2,242,336
180,000

2,260,160
180,000

180,000
0
798,378

180,000
0
2,121,901

180,000
0
2,140,154

180,000
0
164,650
0
164,650

180,000
0
197,980
0
197,980

1,897,686

1,882,180

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

323,813
323,813
0
168,772
58,892
109,880
155,041
87,466
1,791
85,675

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

71,673

83,609

96,758

92,115

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

10,315,109

10,313,296

10,741,029

10,926,298

12,942,954

24,541,649

12,284,659

12,476,224

13,083,166

13,543,839

0
13,587,649

0
25,258,700

10,315,109
174,721

10,313,296
200,320

10,741,029
183,791

10,926,298
229,621

10,860,819
269,815

22,277,858
265,236

0
1,339,555

0
1,444,122

2,093,501

2,682,018

2,589,579

3,245,083

742,580
1,292,143

819,669
1,197,512

117,041

541,953

537,942

297,159

123,008

99,928

27,989
155,923

35,238
220,358

29,161
269,567

45,720
336,103

131,049
247,499

128,389
312,699

307,599
1,484,949

890,455
994,014

1,452,845
300,064

2,294,679
271,422

0
790,587

0
656,496

1,438,354
282,029

1,822,977
303,312

1,921,891
331,880

2,639,891
745,155

2,425,334
767,230

2,257,090
888,088

1,156,325
1,047,043

1,519,665
743,820

1,590,011
411,940

1,894,736
199,492

1,658,104
710,151

1,369,002
596,886

190,813

86,426

499,700

299,820

99,940

0
0

0
0

547,343

444,000

312,000

199,492

224,066
295,272

221,206
289,254

9,923,213
325,242

10,428,517
325,242

10,996,777
325,242

11,331,998
325,242

11,099,612
325,242

22,885,185
325,242

325,242
0
9,597,971

325,242
0
10,103,275

325,242
0
10,671,535

325,242
0
11,006,756

325,242
0
2,149,516
2,070,631
78,885

325,242
0
2,552,173
2,098,189
453,984

8,624,854

20,007,770

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

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

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

608,675

692,206

892,058

969,339

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

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

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

(Thousand Rupees)
2009
2010

2005

2006

2007

2008

1,190,458

1,339,236

1,773,567

1,797,488

2,295,198

2,603,172

1,564,982

1,786,282

2,306,247

2,441,346

107,681
3,431,290

217,498
3,017,168

1,190,458
65,554

1,339,236
74,090

1,773,567
88,273

1,797,488
112,974

2,175,347
734,141

2,376,854
836,938

0
0

0
0

303,280

364,112

406,221

526,437

12,170
544,130

8,820
649,202

71,455

83,457

125,565

168,612

133,467

183,233

12,609
0

20,071
149,122

29,845
131,129

44,871
153,180

65,576
185,349

82,558
221,671

5,000
214,216

0
111,462

0
119,682

0
159,774

0
159,738

0
161,740

444,690
163,720

599,916
235,774

708,579
190,730

640,953
73,299

794,603
535,440

832,994
506,534

280,970
226,974

364,142
232,801

517,849
536,990

567,654
644,586

259,163
536,835

326,460
833,641

165,441

383,136

0
0

0
0

226,974

232,801

536,990

644,586

0
371,394

0
450,505

822,074
505,138

870,631
505,138

934,219
505,138

1,038,386
505,138

1,507,890
505,138

1,585,739
505,138

505,138
0
316,936

505,138
0
365,493

505,138
0
429,081

505,138
0
533,248

505,138
0
390,663
40,000
350,663

505,138
0
475,691
40,000
435,691

612,089

604,910

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

1,948,835
1,948,835
0
1,652,684
801,370
851,314
296,151
0
0
0

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

350,583

174,501

301,832

679,615

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

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

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
ii)
1
2
3
4
5
6
iii)
1
2
3
4
5
6
7
8
9
10
11
12
13

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

2 Food(54)

185

i) Sugar(36)
1 Abdullah Shah Ghazi Sugar Mills Ltd.(Al-Asif Sugar Mills Ltd.)

187
189

486

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.
6LQGK$EDGJDUV6XJDU0LOOV/WG
Tandlianwala Sugar Mills Ltd.
The Frontier Sugar Mills & Distillery Ltd.
The Prem.Sugar Mills & Dist. Co. Ltd.
The Thal Industries Corp. 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

ii) Other Food Products (18)

226

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

228
229
230
231
232
233
234
235
236
237
238
239
240
241
242
243
244
245

Clover Pakistan Ltd.

Indus Fruit Products Ltd.
Ismail Industries Ltd.
0LWFKHOOV)UXLW)DUPV/WG
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.

3 Chemicals & Pharmaceuticals (43)

248

1
2
3
4
5

250
251
252
253
254

Abbott Laboratories (Pakistan) Ltd.

Agritech Ltd.
Boc Pakistan Ltd.
Bawany Air Products Ltd.
Berger Paints Pakistan Ltd.

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.

Philip Morris (Pakistan) Ltd. (Lakson Tobacco Compan
Service Industries Ltd.
Shield Corporation Ltd. (Transpak Corp. Ltd.)
Siddiqsons Tinplate Ltd.
Syed Match Co. Ltd.
Thal Ltd. (Thal Jute Mills Ltd.)
Treet Corporation Ltd.
Tri-Pack Films Ltd.
United Brand Ltd. (UDL Industries Ltd.)
Zil Ltd. (Zulfeqar Industries Ltd.)

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.)

319
320
321
322
323
324
325
326
327
328
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)

Page No.
Data

336
337
338
339
340
341
342
343
344
345
346
347
348
349
350
351
352
353
354
355
356
358

295
297
298
299
300
301
302
303
304
305
306
307
308
309
310
311
312
313
314
315
316
317
318

487

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.

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)

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
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

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.

420
421
422
423
424
425
426
427
428
429
430
431
432

9 Coke & Refined Petroleum Products (9)

435

1
2
3
4

437
438
439
440

Attock Petroleum Ltd.

Attock Refinery Ltd.
Byco Petruleum Pakistan
National Refinery Ltd.

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.

10 Paper, Paperboard & Products (9)

1
2
3
4
5
6
7
8
9

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)

11 Electrical Machinery & Apparatus (8)

1
2
3
4
5
6
7
8

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.

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.

Page No.
Data
441
442
443
444
445
448
450
451
452
453
454
455
456
457
458
461
463
464
465
466
467
468
469
470
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.

S.No.

Company Name

1 Textile Sectors (85)

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

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

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

na

2 Food(21)
i) Sugar (6)
na

na

na
na
na
na
na

489

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