60 Annual Report 2013 Knowledge Fueled Growth 61

Horizontal Analysis
2013 2012 2011 2010 2009 2008
Increase / (Decrease) Increase / (Decrease) Increase / (Decrease) Increase / (Decrease) Increase / (Decrease) Increase / (Decrease)
from last year from last year from last year from last year from last year from last year
Rs in million % Rs in million % Rs in million % Rs in million % Rs in million % Rs in million %

Balance Sheet
Equity and reserves 18,085.89 21.42 14,895.22 19.55 12,459.06 21.27 10,273.52 1.25 10,147.13 4.62 9,698.99 100.00
Surplus on revaluation of freehold land 8,745.22 8,745.22 8,745.22 354.69 1,923.34 1,923.34 1,923.34 100.00
Noncurrent liabilities (100.00) 158.40 13.13 140.02 16.56 120.12 23.99 96.89 100.00
Total current liabilities 37,803.69 (46.05) 70,074.47 65.54 42,331.76 (8.48) 46,251.95 43.21 32,296.95 (15.81) 38,361.96 100.00
64,634.80 (31.03) 93,714.91 47.13 63,694.44 8.71 58,588.83 31.70 44,487.54 (11.17) 50,081.18 100.00

Property, plant and equipment 10,034.55 1.97 9,840.29 1.75 9,670.97 237.20 2,868.00 (1.65) 2,916.21 (0.46) 2,929.65 100.00
Long term investments 13,264.92 13,264.92 13,264.92 13,264.92 0.16 13,244.12 0.83 13,135.58 100.00
Noncurrent assets 69.68 (33.65) 105.02 (38.19) 169.90 (0.87) 171.39 (12.92) 196.83 (15.17) 232.03 100.00
Stores, spares and loose tools 688.13 2.12 673.85 8.70 619.92 6.69 581.04 1.37 573.20 5.66 542.50 100.00
Stockintrade 11,744.81 10.27 10,650.69 (2.04) 10,872.58 51.45 7,178.85 47.44 4,868.98 0.50 4,844.85 100.00
Trade debts 17,499.31 (64.37) 49,115.76 96.04 25,053.68 (17.67) 30,430.26 96.21 15,508.76 68.44 9,207.24 100.00
Loans, advances, deposits, prepayments
and other receivables 328.43 48.81 220.71 23.85 178.21 41.49 125.95 (66.60) 377.13 54.12 244.70 100.00
Cash and bank balances 11,004.97 11.80 9,843.67 154.74 3,864.28 (2.62) 3,968.42 (41.66) 6,802.31 (64.09) 18,944.63 100.00
64,634.80 (31.03) 93,714.91 47.13 63,694.44 8.71 58,588.83 31.70 44,487.54 (11.17) 50,081.18 100.00

Profit & Loss Account

Net Sales 163,300.53 5.78 154,381.56 32.63 116,397.37 31.99 88,184.03 14.14 77,260.50 (17.50) 93,654.31 100.00
Cost of sales 160,271.23 5.19 152,362.20 32.60 114,900.76 29.55 88,693.69 17.72 75,342.10 (15.96) 89,646.38 100.00
Gross Profit/(loss) 3,029.30 50.01 2,019.36 34.93 1,496.61 393.65 (509.66) (126.57) 1,918.40 (52.13) 4,007.93 100.00
Administration expenses 360.65 6.07 340.01 20.18 282.92 15.34 245.29 10.08 222.82 11.78 199.34 100.00
Distribution cost 41.16 9.42 37.62 14.41 32.88 32.42 24.83 19.34 20.81 8.72 19.14 100.00
Finance cost 548.56 (44.85) 994.74 2,090.67 45.41 (85.30) 308.80 (79.02) 1,471.53 18.25 1,244.37 100.00
Other charges 405.96 53.46 264.53 26.75 208.71 171.96 76.75 (38.27) 124.32 (47.26) 235.71 100.00
1,356.33 (17.14) 1,636.90 187.22 569.92 (13.08) 655.67 (64.36) 1,839.48 8.30 1,698.56 100.00
1,672.97 337.43 382.46 (58.73) 926.69 179.52 (1,165.33) (1,576.42) 78.92 (96.58) 2,309.37 100.00
Other income 3,082.10 29.02 2,388.77 52.58 1,565.59 59.21 983.34 (1.04) 993.70 71.96 577.85 100.00
Profit/(loss) before taxation from refinery operations 4,755.07 71.59 2,771.23 11.19 2,492.28 1,469.44 (181.99) (116.97) 1,072.62 (62.85) 2,887.22 100.00
Provision for taxation 2,137.51 31.52 1,625.18 18.18 1,375.12 368.01 293.82 (55.92) 666.61 (24.22) 879.65 100.00
Profit/(loss) after taxation from refinery operations 2,617.56 128.40 1,146.05 2.59 1,117.16 334.79 (475.81) (217.19) 406.01 (79.78) 2,007.57 100.00
Profit after taxation from nonrefinery operations 1,298.10 (18.29) 1,588.64 48.69 1,068.39 77.41 602.20 (1.40) 610.74 (85.25) 4,140.20 100.00
Profit for the year 3,915.66 43.18 2,734.69 25.13 2,185.55 1,629.22 126.39 (87.57) 1,016.75 (83.46) 6,147.77 100.00