Professional Documents
Culture Documents
Ahsan
BATA PAKISTAN LIMITED
PROFILE NOTE
The Company is engaged mainly in the manufacturing and sale of footwear of all kinds.
DIRECTORS/ADVISORS ADVISORS
CHAIRMAN JORGE CARBAJAL AUDITOR FORD RHODES SIDAT HYDER & CO.
CEO/MD/President G. STRICKER BANKER MCB BANK LIMITED
CFO REGISTRAR
SECRETARY S M ISMAIL SOLICITOR
31-DEC-07 31-DEC-08
BUSINESS AREA SALES
PKR ('000) PKR ('000)
TOTAL 0
31-DEC-07 31-DEC-08
GEOGRAPHIC AREA SALES
PKR ('000) PKR ('000)
TOTAL 0
Effec
MAJOR SHAREHOLDERS % of Capital No of Shares ('000) % of Votes Effective from
thro
ORD PKR 10 10
INCOME STATEMENT 31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
Currency PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PK
Report Type N N N N N CU CU CU CU
Gross Sales 2,444,449 2,651,163 2,651,163 2,651,163 2,651,163 2,279,560 2,543,340 2,989,470 3,964,190 5
Adjustments/Excise
-437,225 -463,212 -463,212 -463,212 -463,212 0 0 0 0
Tax
Net Sales 2,007,224 2,187,951 2,187,951 2,187,951 2,187,951 2,279,560 2,543,340 2,989,470 3,964,190 5
Other Revenues 721 786 786 786 786 28,160 2,790 7,220 5,200
Total Revenues 2,007,945 2,188,737 2,188,737 2,188,737 2,188,737 2,307,720 2,546,130 2,996,690 3,969,390 5
Costs of Goods &
Services / Total -1,195,163 -1,321,285 -1,321,285 -1,321,285 -1,321,285 -1,443,720 -1,605,940 -1,876,650 -2,327,140 -2
Expenses
Operating Income 812,782 867,452 867,452 867,452 867,452 864,000 940,190 1,120,040 1,642,250 2
Selling, general &
-659,573 -700,468 -700,468 -700,468 -700,468 -654,240 -771,560 -920,070 -1,114,860 -1
administrative costs
R & D Expense 0 0 0 0 0 0 0 0 0
Related & Associated
0 0 0 0 0 0 0 0 0
Companies
Earning Before
Interest, Tax & 153,209 166,984 166,984 166,984 166,984 209,760 168,630 199,970 527,390
Depreciation
Depreciation &
-29,449 -26,850 -26,850 -26,850 -26,850 0 0 0 0
Depletion
Amortization 0 0 0 0 0 0 0 0 0
Total Depreciation,
Depletion & -29,449 -26,850 -26,850 -26,850 -26,850 0 0 0 0
Amortization
Operating Income
123,760 140,134 140,134 140,134 140,134 209,760 168,630 199,970 527,390
After Depr. & Amort.
Unusual/Exceptional
-3,447 -3,161 -3,161 -3,161 -3,161 -12,340 0 0 0
Items
Earnings Before
120,313 136,973 136,973 136,973 136,973 197,420 168,630 199,970 527,390
Interest & Tax
Interest Income 0 0 0 0 0 0 0 0 0
Interest Expense -73,051 -71,861 -71,861 -71,861 -71,861 -19,230 -40,090 -33,150 -23,390
Net Interest -73,051 -71,861 -71,861 -71,861 -71,861 -19,230 -40,090 -33,150 -23,390
Other Financial
0 0 0 0 0 0 0 0 0
Income & Expenses
Earnings Before Tax 47,262 65,112 65,112 65,112 65,112 178,190 128,540 166,820 504,000
Income Taxes -13,308 -18,578 -18,578 -18,578 -18,578 -56,320 -44,620 -57,200 -145,360 -
Earnings After Tax 33,954 46,534 46,534 46,534 46,534 121,870 83,920 109,620 358,640
Minority Interest 0 0 0 0 0 0 0 0 0
Preacquisition Profit 0 0 0 0
Other After Tax
0 0 0 0 0
Adjustments
Extraordinary Items
0 0 0 0 0 0 0 0 0
After Tax
Preferred Dividends 0 0 0 0 0 0 0 0 0
Net Profit 33,954 46,534 46,534 46,534 46,534 121,870 83,920 109,620 358,640
Ordinary Dividends -15,120 -20,790 -20,790 -20,790 -20,790 0 0 0 0
ASSETS 31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
Currency PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PK
Report Type N N N N N CU CU CU CU
Cash & Equivalent 61,770 165,632 165,632 165,632 165,632 0 0 0 0
Short-term
0 0 0 0 0 0 0 0 0
Investments
Accounts Receivable 330,089 531,543 531,543 531,543 531,543 0 0 0 0
Inventories 604,068 444,631 444,631 444,631 444,631 0 0 0 0
Prepayments &
37,823 21,809 21,809 21,809 21,809 0 0 0 0
Advances
Other Current Assets 4,792 10,646 10,646 10,646 10,646 961,060 1,019,180 1,013,980 1,398,000 1
Current Assets 1,038,542 1,174,261 1,174,261 1,174,261 1,174,261 961,060 1,019,180 1,013,980 1,398,000 1
Property, Plant &
637,189 626,263 626,263 626,263 626,263 722,850 770,520 855,190 973,110 1
Equipment at Cost
Net Revaluation /
0 0 0 0 0 0 0 0 0
Impairment of PPE
Accumulated
-369,224 -378,646 -378,646 -378,646 -378,646 -453,770 -486,580 -522,470 -563,750 -
Depreciation
Net Propery, Plant &
267,965 247,617 247,617 247,617 247,617 269,080 283,940 332,720 409,360
Equipment
Goodwill 0 0 0 0 0 0 0 0 0
Other Intangibles 0 0 0 0 0 0 0 0 0
Goodwill & Intangibles 0 0 0 0 0 0 0 0 0
Leasing and
0 0 0 0 0 0 0 0 0
Investment Properties
Long Term
58,570 13,015 13,015 13,015 13,015 19,360 20,470 22,140 23,850
Investments
Other Long Term
12,728 18,732 18,732 18,732 18,732 25,410 41,590 45,890 41,800
Assets
Total Assets 1,377,805 1,453,625 1,453,625 1,453,625 1,453,625 1,274,910 1,365,180 1,414,730 1,873,010 2
LIABILITIES 31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
Currency PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PK
Report Type N N N N N CU CU CU CU
Accounts Payable 318,590 358,214 358,214 358,214 358,214 0 0 0 0
Short Term Debt 291,927 372,716 372,716 372,716 372,716 0 0 0 0
Current Portion of
18,488 55,146 55,146 55,146 55,146 0 0 0 0
Long Term Debt
Taxes Payable 54,363 55,682 55,682 55,682 55,682 0 0 0 0
Other Current
160,605 175,465 175,465 175,465 175,465 643,620 658,700 628,420 808,720
Liabilities
Total Current Liabilities 843,973 1,017,223 1,017,223 1,017,223 1,017,223 643,620 658,700 628,420 808,720
Long Term Debt 162,503 38,015 38,015 38,015 38,015 0 0 22,140 23,850
Long Term Convertible
0 0 0 0 0 0 0 0 0
Debt
Lease Obligation 14,760 9,615 9,615 9,615 9,615 0 0 0 0
Total Long Term
177,263 47,630 47,630 47,630 47,630 0 0 22,140 23,850
Interest Bearing Debt
Minority Interest 0 0 0 0 0 0 0 0 0
Deferred Taxes 0 4,086 4,086 4,086 4,086 0 67,840 66,610 67,400
Provisions 57,132 59,505 59,505 59,505 59,505 0 0 0 0
Other Long Term
0 0 0 0 0 85,680 20,460 0 0
Liabilities
Total Liabilities & Debt 1,078,368 1,128,444 1,128,444 1,128,444 1,128,444 729,300 747,000 717,170 899,970
Redeemable Preferred
0 0 0 0 0 0 0 0 0
Shares
Preferred Shares 0 0 0 0 0 0 0 0 0
Common Stock/Shares 75,600 75,600 75,600 75,600 75,600 75,600 75,600 75,600 75,600
Participation Shares 0 0 0 0 0 0 0 0 0
Share Capital 75,600 75,600 75,600 75,600 75,600 75,600 75,600 75,600 75,600
Addition Paid In
0 0 0 0 0 0 0 0 0
Capital
Legal/Untaxed/Special
0 0 0 0 0 480 480 480 480
Reserves
Shareholders Reserve 222,483 248,483 248,483 248,483 248,483 469,530 542,100 621,480 896,960 1
Retained Earnings 1,354 1,098 1,098 1,098 1,098 0 0 0 0
Treasury Stock 0 0 0 0 0 0 0 0 0
Other Equity 0 0 0 0 0 0 0 0 0
Total Shareholders
299,437 325,181 325,181 325,181 325,181 545,610 618,180 697,560 973,040 1
Equity
Total Liabilities &
1,377,805 1,453,625 1,453,625 1,453,625 1,453,625 1,274,910 1,365,180 1,414,730 1,873,010 2
Equity
CASHFLOW 31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
Currency PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PKR ('000) PK
Report Type N N N N N CU CU CU CU
Net Income 33,954 46,534 46,534 46,534 46,534 121,870 83,920 109,620 358,640
Depreciation,
Depletion & 29,449 26,850 26,850 26,850 26,850 0 0 0 0
Amortization
Depreciation &
29,449 26,850 26,850 26,850 26,850 0 0 0 0
Depletion
Amortization of
0 0 0 0 0 0 0 0 0
Intangible Assets
Deferred Inc. Tax &
0 4,086 4,086 4,086 4,086 -4,086 67,840 -1,230 790
Invest. Tax Credit
Other Non-Cash Items 19,624 -46,725 -46,725 -46,725 -46,725 -86,559 -51,110 -73,730 -317,360
Funds from Operations
Before WC Charges & 83,027 30,745 30,745 30,745 30,745 31,225 100,650 34,660 42,070
Extra
Funds from Other
-89,581 23,946 23,946 23,946 23,946 187,508 -108,260 -45,540 -203,720
Operating Activities
Decrease/Increase in
-217,126 -201,454 -201,454 -201,454 -201,454 531,543 0 0 0
Receivables
Decrease/Increase in
-20,665 159,437 159,437 159,437 159,437 444,631 0 0 0
Inventories
Increase/Decrease in
115,930 39,624 39,624 39,624 39,624 -358,214 0 0 0
Accts. Payable
Increase/Decrease in
-1,141 17,333 17,333 17,333 17,333 -33,873 0 0 0
Other Accruals
Decrease/Increase in
Other 33,421 9,006 9,006 9,006 9,006 -396,579 -108,260 -45,540 -203,720
Assets/Liabilities
Net Cash Flow -
-6,554 54,691 54,691 54,691 54,691 218,733 -7,610 -10,880 -161,650
Operating Activities
Capital Expenditure,
Reval, Disp Incld -38,296 10,926 10,926 10,926 10,926 -96,587 -47,670 -84,670 -117,920
Intangibles
Increase/Decrease in
-4,266 -6,004 -6,004 -6,004 -6,004 -6,678 -16,180 -4,300 4,090
Other Assets
Increase/Decrease in
-41,711 45,555 45,555 45,555 45,555 -6,345 -1,110 -1,670 -1,710
Investments
Net Cash Flow - Invest.
-84,273 50,477 50,477 50,477 50,477 -109,610 -64,960 -90,640 -115,540
Activities
Increase/Decrease in
114,790 117,447 117,447 117,447 117,447 -427,862 0 0 0
Short Term Borrowing
Increase/Decrease in
-6,707 -129,633 -129,633 -129,633 -129,633 -47,630 0 22,140 1,710
Long Term Borrowing
Net Proceeds from
Sale/Issue of Common 0 0 0 0 0 0 0 0 0
& Preferred Stock
Common/Preferred
Purchase, Ret, Conv, 0 0 0 0 0 0 0 0 0
Redeem
Cash Dividends Paid -
0 -15,120 -15,120 -15,120 -15,120 -20,790 0 0 0
Total
Common Dividends
0 -15,120 -15,120 -15,120 -15,120 -20,790 0 0 0
(Cash)
Preferred Dividends
0 0 0 0 0 0 0 0 0
(Cash)
Other Source/Use -
19,000 26,000 26,000 26,000 26,000 221,527 72,570 79,380 275,480
Financing
Net Cash Flow -
127,083 -1,306 -1,306 -1,306 -1,306 -274,755 72,570 101,520 277,190
Financing
Effect of Exchange on
0 0 0 0 0 0 0 0 0
Cash
Increase/Decrease in
Cash & Short Term 36,256 103,862 103,862 103,862 103,862 -165,632 0 0 0
Investments
Cash & Equivalents at
25,514 61,770 61,770 61,770 61,770 165,632 0 0 0
Beginning of Year
Cash & Equivalents at
61,770 165,632 165,632 165,632 165,632 0 0 0 0
End of Year
KEY RATIOS
PROFITABILITY
31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
RATIOS
Return on Assets
2.76 3.29 3.29 3.29 3.29 8.93 6.36 7.89 21.82
(ROA)
Return on Net Assets
12.97 18.05 18.05 18.05 18.05 47.17 30.35 35.55 96.66
(RONA)
Return on Gross
5.49 7.37 7.37 7.37 7.37 18.07 11.24 13.49 39.23
Assets (ROGA)
Return on Gross
8.84 -409.59 -409.59 -409.59 -409.59 -253.6 7,479.5 194.55 215.19
Investment (ROGI)
Return on Equity (ROE) 11.71 14.9 14.9 14.9 14.9 27.99 14.42 16.66 42.94
Return on Invested
25.79 33.66 33.66 33.66 33.66 35.48 36.3 23.44 48.37
Capital (ROIC)
Operating Margin (%) 5.99 6.26 6.26 6.26 6.26 8.66 6.63 6.69 13.3
COGS/Sales (%) 59.54 60.39 60.39 60.39 60.39 63.33 63.14 62.78 58.7
Depreciation/Sales
1.47 1.23 1.23 1.23 1.23 0 0 0 0
(%)
SG&A/Sales (%) 32.86 32.01 32.01 32.01 32.01 28.7 30.34 30.78 28.12
Net Profit Margin (%) 1.69 2.13 2.13 2.13 2.13 5.35 3.3 3.67 9.05
ASSET UTILISATION 31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
R&D/Sales (%) 0 0 0 0 0 0 0 0 0
Sales to Cash (%) 45.99 19.24 19.24 19.24 19.24 27.53
Sales to Accts
9.06 5.08 5.08 5.08 5.08 8.58
Receivable (%)
Sales to Inventories
3.38 4.17 4.17 4.17 4.17 10.25
(%)
Sales to Working
9.04 12.45 12.45 12.45 12.45 9.61 7.5 8.01 8.13
Capital (%)
Sales to Fixed Assets
7.67 8.49 8.49 8.49 8.49 8.82 9.2 9.7 10.68
(%)
Sales to Total Assets
1.63 1.55 1.55 1.55 1.55 1.67 1.93 2.15 2.41
(%)
LIQUIDITY RATIOS 31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
Quick Ratio
(equivalent to Acid 0.46 0.69 0.69 0.69 0.69 0 0 0 0
Ratio)
Cash Ratio 0.07 0.16 0.16 0.16 0.16 0 0 0 0
Current Ratio 1.23 1.15 1.15 1.15 1.15 1.49 1.55 1.61 1.73
Gross Cash Flow to
0.22 0.19 0.19 0.19 0.19 0.33 0.26 0.32 0.65
Current Liabilities
Free Cash Flow to
0.2 0.23 0.23 0.23 0.23 0.42 0.16 0.24 0.3
Current Liabilities
Interest Coverage -1.65 -1.91 -1.91 -1.91 -1.91 -10.27 -4.21 -6.03 -22.55
Funded Capital Ratio 2.39 3.84 3.84 3.84 3.84 15.47 33.7 21.2
Days in Inventory 109.85 74.17 74.17 74.17 74.17 0 0 0 0
Days in Accts Payable 57.93 59.76 59.76 59.76 59.76 0 0 0 0
Days in Cash 11.23 27.63 27.63 27.63 27.63 0 0 0 0
Days in Receivables 60.02 88.67 88.67 88.67 88.67 0 0 0 0
CAPITAL STRUCTURE 31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
3 YR GROWTH RATES 31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
5 YR GROWTH RATES 31-DEC-99 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-00 31-DEC-04 31-DEC-05 31-DEC-06 31-DEC-07 31-
Business summary: The Company is engaged mainly in the manufacturing and sale of footwear of all kinds. The Company is a pu
limited company quoted on Stock Exchanges in Pakistan.
Under no circumstances this document is to be used or considered as an offer to sell, or a solicitation of any offer to buy, any security
research report is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation an
particular needs of any specific person or institution, who may use this report. While information contained herein has been obtained
sources believed to be reliable, WVB does not represent that it is accurate or complete and it should not be relied upon as such. Opinion
formulated as mathematical calculations, are opinions only and do not warranty any usefulness. Users should always look out for statistic
swans as past history is not a guarantee of continuation or reliability in the present or future.