Analysis of Firms

BALANCE SHEET ANALYSIS
OF
JOINT STOCK COMPANIES
LISTED ON THE KARACHI STOCK EXCHANGE
(2004-2009)
STATE BANK OF PAKISTAN

STATISTICS AND DWH DEPARTMENT
Team Leader
 Dr. Azizullah Khattak Director

aziz.khattak@sbp.org.pk
Team Members
 Dr. Ishaque Ahmed Ansari Additional Director

ishaque.ahmed@sbp.org.pk
 Sajjad Hussain Senior Joint Director

sajjad.hussain@sbp.org.pk
 Shahid Latif Joint Director

shahid.latif@sbp.org.pk
 Muhammad Saeed Assistant Director

muhammad.saeed2@sbp.org.pk
 Muhammad Arfan Dilber Assistant Director

arfan.dilber@sbp.org.pk
Contents
Page No.
Introduction i
Methodology ii - x
Executive Summary xi – xv
Key Performance Indicators xvi
Analytical Tables and Profiles:
I. Sectors
(a) Overall 1–2
(b) Private 3-4
(c) Public 5-6
II. Economic Groups
1. Textile & Other Textiles
(a) Textiles 7 - 238
(b) Other Textiles 239- 265
2. Chemicals 266 – 323
3. Engineering 324 – 384
4. Sugar & Allied Industries 385 – 442
5. Paper & Board 443 – 460
6. Cement 461 – 496
7. Fuel & Energy 497 – 541
8. Transport & Communication 542 – 565
9. Other
(a) Tobacco 566 – 574
(b) Jute 575 – 584
(c) Vanaspati & Allied Industries 585 – 594
(d) Miscellaneous 595 – 682
III. Appendix:1 684 - 687
Appendix:2 688 - 689
Introduction
I. Preliminaries
The analysis is based on the published balance sheets of non-financial companies listed at the
Karachi Stock Exchange during the year 2009. For the purpose of comparison, the analysis of the previous
five years is also included in the publication. The number of companies included in the statistical analysis
varied from year to year. All the listed companies (except financial sector) during 2009 have been
classified into economic groups except Tobacco, Jute, Vanaspati & allied and Others which have been
included into the miscellaneous group. The year-wise distribution of companies classified according to the
respective economic group is as under: -
Table: 1 Distribution of companies by economic groups.
Years
Economic Groups
2004 2005 2006 2007 2008 2009
Cotton and Other Textiles 189 182 181 180 182 167
Chemicals 36 34 34 34 35 36
Engineering 42 41 41 41 40 38
Sugar and Allied Industries 35 35 35 36 36 36
Paper and Board 12 12 10 10 10 9
Cement 22 22 22 20 21 21
Fuel and Energy 25 28 28 27 27 27
Transport 13 15 12 12 12 13
Miscellaneous 77 74 73 77 74 67
Total: 451 443 436 437 437 414
During 2009, eight new companies were added whereas thirty one companies were excluded from the
analysis mainly due to non-availability of their annual balance sheets for the last three years or more.
Annual reports of twenty one companies (mostly on default counter of KSE) were not available at the
time of the analysis. To present a comparable and consolidated picture, the last available data in respect of
these companies have been repeated.
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 obtained from actual amount of balance sheet. The
symbol ‘ – ‘ appearing in the analytical tables stand for Not applicable or Not available.
The publication is based on the two sets of analysis:
(a) Overall summary:

This gives the consolidated financial analysis of companies listed at KSE.
(b) Company-wise analysis:

This provides financial analysis of the individual companies.
II. Methodology
A. Capital Structure
1. Ordinary Share Capital
This represents the total 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.).
2. Reserves
It is evaluated by aggregating all kinds of reserves except depreciation reserve and reserve for bad and
doubtful debts plus the balance of profit and loss account and subtracting there from intangible or
fictitious assets (e.g., goodwill, preliminary expenses, exploration accounts, patents, trade mark) and
adverse balance of profit and loss figures. The reserves entering into the calculation are: -
(i) General
(ii) Capital
(iii) Development
(iv) Dividend equalization
(v) Proposed issue of bonus shares
(vi) Profit on re-issue of forfeited shares
(vii) Premium on shares
(viii) Capital profit arising from the sale of fixed assets
(ix) Special reserves under relevant provision of Income Tax Act
(x) Raw material price equalization
(xi) Tax equalization
(xii) Contingency
(xiii) Leave passage
(xiv) Workmen’s compensation fund
(xv) Gratuity, pension or provident fund
(xvi) Investment depreciation but not including provision for actual shortfall of market value as
compared with book value
(xvii) Publicity
(xviii) Employee’s housing and welfare fund
(xix) Charities
(xx) Deferred liabilities
(xxi) Taxation reserves including deferred taxation reserves, but not including provision for tax
assessed or estimated on actual or part of profits.
3. Shareholders’ Equity
This item purports to represent the total stake of the shareholders in the business and has been
obtained by adding the ordinary share capital to the surplus.
4. Preference Shares
As the name indicates these are ordinary shares of a company and pays a fixed dividend (whether the
company is earning profit or making loss during operation), but its shareholders have no voting privilege.
In case of liquidation of the company its status is normally considered prior to the status of ordinary
shareholders. The difference between ordinary shares and preference shares is as follows:
ii
a) Ordinary shareholder will 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 voting in the company’s annual general meeting while the
preference shareholder has no voting right.
c) Ordinary shareholders have to claim on the net assets of the company in case of liquidation,
while the claim of the preference shareholders is paid earlier.
5. Debentures / TFC’s
These are bonds/certificates issued by a company to raise funds for long-term period (generally more
than one year) for a specific purpose, sometimes convertible into stock. At present, debentures have
been replaced by TFC’s (Term Finance Certificates).
6. Other Fixed Liabilities
The liabilities, which are required to be discharge after a period of more than one year from the date of
balance sheet, are termed as other fixed liabilities or loan capital. They may consist of the
following items:
(i) Loans from financial institutions.
(ii) Loans from non bank financial companies.
(iii) Loans from specialized financial institutions
(iv) Foreign loans
(v) Vendor’s account
7. Total Fixed Liabilities
It is the sum of the preference shares, debentures and other fixed liabilities.
8. Total Capital Employed
It is the sum of shareholder’s equity and total fixed liabilities.
B. Liquidity
1. Current Assets
An asset is to be a current asset, which can be readily convertible into cash or equivalent without any
significant loss in value. The current assets comprise of liquid assets, inventories and other current
assets.
a) Liquid Assets
Broadly speaking, liquid assets comprise of all assets like cash, bank balance, marketable security, etc.,
which are easily realisable almost at book value. While there cannot be two opinions regarding the
status of cash, current accounts and government securities in this context, the treatment of savings and
fixed deposits and of shares of joint stock companies not quoted on stock exchange leaves the analyst
in doubt. The classification of borderline cases had therefore, to be made partly in keeping with the
iii
objective of the analysis and partly on one’s own subjective judgment. For this study, liquid assets that
are also sometimes referred to as liquid capital have been bifurcated as cash and investments
and comprise of the following items: -
(i) Cash in hand
(ii) Cash in transit
(iii) Current deposits
(iv) Saving deposits
(v) Call deposits
(vi) Fixed deposits
(vii) Deposits held abroad
(viii) Government and corporate securities
(ix) Savings and Unit Trust Certificates
(x) Debentures stock of local or foreign companies
b) Inventories
It comprises of stocks of raw material in hand, work in progress and finished goods at the closing
date
c) Other Current Assets
The following items are taken as other current assets:

(i) Book debts including bad and doubtful debts
(ii) Stores
(iii) Work in progress(current)
(iv) Advances, prepayments, etc.
9. Current Liabilities
All liabilities, which are required to be discharge 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. The current liability consists of the following items.
(a) Sundry Creditors
(i) Income tax payable

(ii) For expenses
(iii) For other finance
(iv) 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
iv
(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
10. Total Liabilities
This item pertains to sum of total fixed liabilities and current liabilities except shareholder’s equity.
11. Net Current Assets
It has been obtained by deducting the amount of current liabilities from current assets.
12. Contractual Liabilities
This item pertains to all secured debentures, long-term loans, finance lease, short term secured loans
and bank overdraft (Interest bearing secured loans).
13. Net Liquid Assets
This is the difference of liquid assets and the current liabilities.
C. Fixed Assets
1. Fixed Assets at Cost
In contra distinction to current assets, fixed assets consist of items, which are not readily convertible
into cash during the course of normal operations of an enterprise. These items are not subject to
periodical exchange through sales and purchases. Fixed assets are of permanent nature and are not
normally liquidated or intended to be turns 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
(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.
v
(c) Furniture, Fixtures, Fittings and Allied Equipment
(i) Electric fans, refrigerators, air conditioners, electric heating, sanitary and other
fittings.
(ii) Laboratory equipment
(iii) All types of office furniture’s and equipment
(iv) Advertising, fixtures and fittings.
2. Fixed Assets After Deducting Accumulated Depreciation
Deducting the accumulated depreciation from the fixed assets of the company gives this item.
3. Depreciation for the year
It includes all the depreciation charges to the profit and loss account during the year. Owing to the
absence of uniform accounting standards, depreciation is a subjective item and varies from company to
company. It is important for the analyst to know what effect such variation could have on the net
profit.
4. Total Assets
This item is sum of fixed assets at cost after deducting accumulated depreciation, and current assets.
D. Operations
1. Gross Sales
This item represents the sale proceeds of the company. Sales revenue is classified as local sales and
export sales.
2. Gross Profit
Subtracting cost of sales from sales revenue arrives at gross profit.
3. Overhead and Other Expenses
These are total expenses that are incurred on the operational activities of a company except financial
expenses and include:
(i) Cost of sales
(ii) Administrative and general expenses
(iii) Selling and distribution expenses
(iv) Other expenses
5. Operating Profit
Subtracting overhead and other expenses from gross sales and adding thereto-non-operating income
gives operating profit.
6. Financial Expenses
These are interest expense incurred on borrowing of long and short terms loans. It includes the
following items;
vi
(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
(v) Financial charges against assets subject to finance lease
(vi) Interest and mark-up on supplier credit
(vii) Interest on worker’s profit participation fund.
(viii) Bank charges and commission.
(ix) Excise duty on long and short-term finance.
(x) Discounting charges on receivables.
(xi) Exchange losses.
7. Net Profit before Tax Provision
It is the profit earned by the company during the year before tax provision.
8. Tax Provision
It is provision of taxation made on current year’s profit.
9. Total Amount of Dividend
It is the total dividend including interim dividend distributed or proposed to be distribute out of the
current year’s profit
10. Total Value of Bonus Shares Issued
This is the total amount of bonus shares issued to the shareholders as appropriation net profit after tax of
the company during the year.
E. Source of Increase in Capital Employed
1.Increase/ Decrease in Capital Employed
The difference in value of total capital employed (i.e., share capital, surplus, preference capital,
debentures and other fixed liabilities) at the beginning of the year and the corresponding figures at the end
of the year and shown as increase (+)/ decrease (-).
2. Retention in Business
This item 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.
3. Finance from outside the company
The difference between the increase in the capital employed and the retention in the business is the
finance from outside the company. It is possible for this item to be negative. Indeed in some
circumstances it is also possible for the increase in the capital employed as well as the retention in
business to be negative, for instance where dividends are distributed not out of the current earnings but
out of the reserves.
vii
F. Cash Flow Data
1. Depreciation for the year plus Retention in Business
The total funds that corporation generates internally for investment in the modernization and
expansion of plant and equipment.
2. Depreciation for the year plus changes in Capital Employed
Depreciation for the year is added in the difference of two successive years‟ figures of total capital
employed.
G. Operating Financial & Investment Ratios
1. Gearing Ratio
This item shows the proportion that the fixed loan capital bears to the total capital employed.
Where there is preference capital, there is an item of Gearing i.e., the fixed loan capital plus the
preference capital as the ratio of the total capital employed. The justification for taking the
preference capital together with the fixed liabilities is that, from the ordinary
shareholders‟ point of view, both items represent a fixed charge on the profits. Total capital
employed is shareholders equity plus total fixed liabilities. Gearing becomes inapplicable
when the shareholders‟ equity becomes zero or negative.
2. Current Ratio
This item tells a lender about the liquidity of the assets and as a result its ability to pay the short - term
debts.
3. Acid Tests 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 liabilities if it needs to convert its “quick” assets into cash.
4. Debt Equity Ratio
In debt equity ratio, the total debt is compared with the shareholder’s equity; the lower the ratio the
better the company’s solvency, the higher ratio is a risk to a present or future creditor.
5. Return on assets
This ratio is considered a measure of how effectively assets are used to generate a return.
6. Self -Financing Ratio
The ratio expresses the amounts retained in business as percentage of increase/ decrease in the capital
employed.
viii
7. Cash Flow Ratio
This ratio has a purpose somewhat similar to the self-financing ratio. The only difference being that it
takes into account the amount of depreciation.
8. Shareholders’ Equity as % of Ordinary Share Capital
It is the shareholder’s equity to the ordinary share capital, which means the stake of ordinary
shareholders in the total equity of the company.
9. Overhead and Other Expenses as % of Gross Sales
It shows the ratio of overhead and other expenses to the gross sales. This is an important ratio, which
indicates the contribution of operating expenses in the operating revenue through sales of the company.
Lowering the percentage, the company is more viable and efficient.
10. Financial Expenses as % of Operating Profit
This shows the ratio of financial expenses to operating profit. It identifies how much weight the
company will bear from its operating profit before reaching to the net profit before tax. Smaller ratio is a
good for a company.
10. Financial Expenses as % of Gross Sales
It shows the ratio of financial expenses to gross sales. Lowering the ratio indicates the financial
discipline of the company and the increasing ratio indicates that the company is facing financial
expense burden out of its gross sales revenue
11. Financial Expenses as % of Contractual Liabilities
It shows cost incurred (interest/mark up paid) on contractual liabilities.
13. Tax Provision as % of Net Pre-tax Profit
It shows the portion of net profit set aside for tax provisions.
14. Sundry Debtors as % of Gross 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.
15. Net Profit as % of Shareholders’ Equity
It is worked out by dividing the net profit before tax by the shareholder’s equity, expressing the result in
percentage.
ix
H. Key Performance Indicators
1. Dividend Cover Ratio
The ratio of net profit after tax to total amount of dividend.
2. Dividend Ratio to Equity
This item has been worked out by dividing the total amount of dividend by the shareholder’s equity,
expressing the result in percentage.
3. Net Profit Margin.
This ratio shows how much profit comes from every rupee of sales.
4. Earning per Share
It has been arrived by dividing the net profit (before/after tax) by the number of ordinary shares.
5. Average annual % Depreciation on Written Down Fixed Assets
This item is simple depreciation rate and is intended to give some idea of the company’s practice with
regard to depreciation. Since there are so many items in the fixed assets schedule, it is not practicable to
calculate depreciation rate for all the items individually. Therefore, an aggregate depreciation rate for all
the items taken together has been worked out. The method is to take total depreciation provided during
the financial year and dividing it by the written down value of the total fixed assets at the beginning of
the financial year. The result is expressed in percentage.
6. Sales as % of Total Assets
This item indicates how efficiently the business of a company generates sales on each rupee of assets.
7. Sales Growth (Current Year’s Sales - Last Year’s Sales)
Sales growth is the percentage increase or decrease in sales between two time periods.
8. Break-up Value of Ordinary Shares
It is obtained by dividing the sum of ordinary share capital and the surplus by the number of ordinary
shares.
x
Executive Summary
The non-financial sector companies listed at Karachi Stock Exchange (KSE) showed relatively better
performance during the year 2009. Positive outlook has been seen on account of sales and profitability in
sugar, paper & board and cement sectors while a depression is observed in engineering, jute and other
textile sectors. Brief review of the important indicators during years 2008 and 2009 is given below.
Capital Structure
Total paid up capital of ordinary shareholders increased by Rs. 20.44 billion or 4.87 percent from Rs.
419.56 billion in 2008 to Rs. 439.99 billion in 2009, where as it was increased by Rs. 25.05 billion or 6.35
percent in 2008 over 2007. Sector wise position of capital structure is as under:
Total Capital Employed by Economic Sectors

(Million Rupees)
Economic Sector Total Capital Employed Change (%)
2009 2008
Cotton Textile 199,425 211,020 -5.49
Other Textile 27,004 31,678 -14.76
Chemicals 219,096 148,574 47.47
Engineering 88,103 84,356 4.44
Sugar and Allied Industries 35,474 31,339 13.20
Paper and Board 44,698 40,919 9.24
Cement 176,777 186,940 -5.44
Fuel and Energy 424,075 390,674 8.55
Transport and Communications 205,629 197,664 4.03
Tobacco 11,060 9,612 15.07
Jute 5,901 5,310 11.12
Vanaspati and Allied Industries -474 -1,225 61.35
Others 65,687 64,316 2.13
Total 1,502,455 1,401,177 7.23
Total shareholder’s equity increased by 8.32 percent from Rs. 969.08 billion to Rs. 1049.69 billion during
2009. Total fixed liabilities increased by 4.78 percent from Rs. 432.10 billion in 2008 to Rs.452.77 billion
in 2009. A comparison of growth, in the composition of capital structure in the current year with that of
the previous year yields:
2009 over 2008 2008 over 2007
Shareholders’ equity 8.32 % 1.69 %

Total fixed liabilities 4.78 % 19.28 %
Total capital employed 7.23 % 6.53 %
xi
Positive growth trend observed in shareholder’s equity and similarly the total fixed liabilities maintain
positive growth momentum but comparatively slower as compare to last year which reflects demand for
finances from banks and other financial institutions. Total capital employed is also quite favorable this
year except textile and cement sector. The increase in ordinary share capital and reserve & surplus during
the year were 4.87 percent and 10.95 percent respectively. The change in reserve and surplus was
negative (-1.61 %) in the previous year.
Figure 1: Capital Structure of Non-Financial sector-2009

1600.0 1502.5
1400.0
1200.0 1049.7
Billion Rupees
1000.0
800.0
609.7
600.0 440.0 452.8
400.0
200.0
0.0
Paid-up Surplus Shareholders Total fixed Total capital
Capital equity liabilities employed
Liquidity
Overall liquid assets of non-financial sector decreased by 6.60 percent from Rs.422.93 billion in 2008 to
Rs. 395.02 billion in 2009 as against an increase of 3.36 percent last year. The major decrease during the
year was in the sectors
of cement by Rs. Figure 2: Aggregate Composition of Assets
12.98 billion and Fuel 450.0
400.0
Billion Rupees
& Energy by Rs. 350.0

63.91 billion. Cash 300.0
and bank balance 250.0
200.0
showed a decrease of 150.0
Rs. 33.5 billion or 100.0
50.0
19.38 percent in 2009 0.0
as against an increase 2004 2005 2006 2007 2008 2009
of 1.89 percent Cash and bank balances 160.9 188.3 184.1 169.7 172.9 139.4
witnessed last year. Investments 80.3 112.6 192.5 239.5 250.0 255.6
Whereas short-term Liquid Assets 241.2 300.9 376.7 409.2 422.9 395.0
investment increased Working capital 95.8 159.7 143.8 154.9 71.5 48.6
by 2.24 percent or Rs.
5.6 billion in 2009 as against an increase of 4.41 percent in 2008. Working capital at Rs. 48.56 billion
showed a decrease of 32.12 percent in 2009 from Rs.71.53 billion in 2008. Total liabilities of the
corporate sector increased by 13.24 percent i.e. from Rs.1854.38 billion in 2008 to Rs.2099.85 billion in
2009.
xii
Fixed Assets
The fixed assets after deducting accumulated depreciation (book value) of overall position amounted to
Rs.1453.89 billion in
Figure 3: Composition of Assets
2009. The increase was
3500.0
noted to be of RS.
124.3 billion or 9.34 3000.0
Billion Rupees
percent in 2009 over 2500.0
the previous year. Total 2000.0
assets stood at Rs. 1500.0
3149.53 billion in 2009 1000.0
shown an increase of 500.0
11.55 percent over Rs.
0.0
2823.46 billion in 2004 2005 2006 2007 2008 2009
2008. Fixed Assets (book value) 720.3 858.6 1016.6 1160.3 1329.6 1453.9
Total assets 1413.0 1703.5 2048.4 2356.6 2823.5 3149.5
Operational Activities
The gross sales of all non-financial listed companies were Rs.3431.92 billion in 2009 as against Rs.
3356.39 billion in 2008, showing an increase of Rs. 75.5 billion or 2.25 percent while local sales
remained same,
whereas the export Figure 4: Gross Sales and Cost of Sales
sales increased by Rs. 4000.0
75.5 billion or 30.02 3500.0
percent in the current 3000.0
Billion Rupees
year. Cost of goods

2500.0
sold at Rs. 2938.19
2000.0
billion in 2009,
showing an increase of 1500.0
2.74 percent as 1000.0
compared to the 500.0
previous year. The 0.0
2004 2005 2006 2007 2008 2009
gross profit decreased
by Rs. 2.8 billion or Gross sales 1632.8 2031.2 2571.0 2837.9 3356.4 3431.9
0.56 percent from Rs. Cost of sales 1360.2 1672.7 2166.3 2431.1 2859.9 2938.2
496.49 billion in 2008
to Rs. 493.74 billion in 2009. The major sectors which contributed in this decline were paper &
paperboard by 53.08 percent, other textile by 31.85 percent, Transport & communication by 16.00 percent
, Fuel & energy by 10.88 percent, chemical by 11.23 percent, vanaspati & allied industries by 8.89
percent, and engineering by 7.8 percent.
xiii
Net profit before taxes, which stood at Rs. 202.58 billion in 2008 decreased by Rs. 5.89 billion or 2.90
percent to Rs.196.99 billion in 2009. Increase in net Profit before tax is shown in the sectors of Transport
& communication Rs. 44.52 billion, cement Rs. 11.61 billion, paper and paperboard Rs. 4.27 billion,
sugar and allied
industries Rs. 2.28 Figure 5: Net Profit and Retention
billion whereas
300.0
decline is witnessed
in fuel & energy 250.0
Rs. 40.63 billion,
Billion Rupees
chemicals Rs. 200.0
11.51 billion, 150.0

cotton textile Rs.
10.37 billion and 100.0
engineering Rs.
50.0
6.98 billion. Out of
profit amount 0.0
retained in the 2004 2005 2006 2007 2008 2009
business was Rs. Net profit (before taxes) 175.5 225.0 256.7 229.3 202.9 197.0
10.47 billion in Retention in business 52.1 92.3 81.0 71.1 4.7 10.5
2009 as against Rs.
4.68 billion in 2008 showed an increase of Rs. 5.8 billion or 123.72 percent.
The finance inducted from outside sources of the business is increased by 11.78 percent to Rs. 90.81
billion in 2009 as compared to Rs. 81.24 billion in 2008 which shows increased business momentum in
2009. Return on assets, which were 7.2 percent in 2008 further decreased to 6.3 percent in 2009 reflect
the capital market which started declining during the previous year, also continued its downward trend in
the current year.
xiv
Key Financial Ratios
Sundry debtor’s ratio to gross sales indicates a growth of 43.12 percent, at 15.6 percent in 2009 from 10.9
percent in 2008. Dividend ratio to equity, which was 11 percent in 2008, remains same in 2009. Corporate
sector dividend payout has been grown by 8.60 percent as compared to 8.83 percent in 2008.
Figure 6: Key Financial Ratios

18.0
16.0
14.0
Percent
12.0
10.0
8.0
6.0
4.0
2.0
0.0
2004 2005 2006 2007 2008 2009
Sundry debtors as % of
7.0 7.8 7.8 8.8 10.9 15.6
gross sales
Dividend ratio to equity 12.4 8.9 11.7 10.2 11.0 11.0
Bonus shares issued by the companies in non-financial sector recorded an increase of 1.59 percent as
compared with the 59.06 percent in the previous year. Earnings per share after tax which was Rs. 2.60 per
share in 2008 has increased to Rs. 2.90 per share in 2009 (net increase of 11.54 percent in the value per
share during the current year). The ratio of gross sales to total assets, which was 118.9 percent in 2008,
was decreased to 109 percent in 2009. This is a negative sign for the corporate sector that rising assets did
not succeed to promote more sales, which showed positive relationship in the previous year. Overall it is
evident that during the year 2009 the listed company’s of non-financial sector shows a mixed trend in
almost all areas of financial analysis as being the course last year.
xv
Table: Key performance Indicators by Economic Groups for the
Year 2009
(Million Rupees)
Economic Groups
Key
Performance
Indicators
Paper and Board
Communications
Sugar and Allied
Allied Industries
Fuel and Energy
Overall
Other Textiles
Textile Sector
Transport &
Vanaspati &
Engineering
Chemicals
Industires
Tobacco
Cement
Others
Jute
Paid -up-Capital 439,997.9 37,841.0 9,046.9 50,917.7 12,780.7 8,495.3 2,238.9 55,661.4 150,799.1 95,822.6 3,182.8 523.8 172.8 12,515.1
Total amount 115,341.4 1,535.1 322.1 19,676.0 4,226.4 574.4 3,491.5 1,490.0 66,559.0 8,460.9 3,312.2 42.6 4.6 6,217.5
of dividend
Total value of 4,840.7 279.2 0.0 1,196.4 379.6 161.8 0.0 784.9 2,027.2 181.9 0.0 42.6 0.0 231.0
bonus shares issued
Increace/ Decrease(-) 101,277.4 -11,595.3 -4,674.4 70,521.8 3,747.2 4,135.8 3,779.4 -10,163.0 33,400.2 7,965.0 1,448.2 590.6 751.7 1,370.6
in capitral employed
Dividend cover 109.1 -331.7 -1,103.9 134.2 80.7 359.4 125.6 393.0 116.1 -4.1 122.2 1,619.5 184.8 171.4
ratio (%)
Dividend ratio to 11.0 1.2 1.7 15.1 5.5 2.6 12.7 1.3 18.6 8.6 29.9 0.8 0.0 11.1
equity (%)
Net profit 5.7 -0.9 -5.7 14.2 3.1 3.6 18.0 5.5 6.1 2.3 17.5 10.3 1.2 9.1
margin (%)
Return on equity (%) 18.8 -2.3 -16.9 29.8 10.0 13.0 16.7 6.1 32.4 4.2 55.7 17.8 0.0 27.2
Earning per share 4.5 -0.8 -3.5 7.6 6.0 3.4 20.5 1.3 7.7 0.4 19.3 19.0 3.3 12.2
before tax (Rs./share)
Earning per share 2.9 -1.3 -3.9 5.2 2.7 2.4 19.6 1.1 5.1 0.0 12.7 13.2 0.5 8.5
after tax (Rs./share)
Avg. Annual depreciation 8.0 7.5 9.9 13.3 8.9 6.1 7.3 4.2 8.1 8.4 12.8 7.8 4.1 8.0
as % of fixed assets
(Book Value)
Sale as % of 109.0 81.1 81.9 83.6 134.8 89.5 45.5 46.2 157.5 48.8 153.8 124.7 253.3 132.3
total assets
Sales growth (%) 2.3 8.4 -2.5 6.9 -13.7 2.2 8.1 16.1 6.4 -12.6 -52.6 -12.6 -14.4 2.4
Breakup value of 23.9 34.6 20.8 25.5 59.6 26.1 123.1 20.9 23.7 10.3 34.7 106.4 -27.5 44.7
ordinary shares (in Rs)
xvi
Overall (Million Rupees)
Items 2004 2005 2006 2007 2008 2009
A.Capital Structure:
1.Ordinary Share Capital 305607.6 354203.5 372335.5 394509.6 419555.4 439997.9
2.Surplus 289229.7 430745.5 501329.3 558499.1 549522.7 609688.0
3.Shareholder's Equity (A1+A2) 594837.3 784949.0 873664.8 953008.7 969078.1 1049685.9
4.Prefrence Shares 1083.4 3628.2 3519.3 10168.4 9451.9 11989.5
5.Debentures 23473.5 30904.9 31265.3 45095.4 49685.8 53487.6
6.Other Fixed Liabilities 196727.2 198830.9 251932.6 306985.9 372960.9 387291.1
7.Total Fixed Liabilities (A4+A5+A6) 221284.1 233364.0 286717.2 362249.7 432098.6 452768.2
8.Total Capital Employed (A3+A7) 816121.4 1018313.0 1160382.0 1315258.4 1401176.7 1502454.1
B.Liquidity:
1.Liquid Assets: 241184.3 300873.5 376657.8 409161.4 422926.1 395016.0
(i)Cash 160856.8 188306.3 184141.8 169690.2 172892.1 139380.3
(ii)Investments 80327.5 112567.2 192516.0 239471.2 250034.0 255635.7
2.Other Current Assets 267962.8 337303.3 414622.0 515561.9 708862.2 971037.2
3.Inventories 183539.6 206674.0 240567.9 271532.6 362027.0 329584.6
4.Current Assets (B1+B2+B3) 692686.7 844850.8 1031847.7 1196255.9 1493815.3 1695637.8
5.Current Liabilities 596893.4 685142.3 888036.0 1041342.7 1422282.3 1647077.7
6.Total Liabilities(A7+B5) 818177.5 918506.3 1174753.2 1403592.4 1854380.9 2099845.9
7.Net Current Assets(B4-B5) 95793.3 159708.5 143811.7 154913.2 71533.0 48560.1
8.Contractual Liabilities 373561.8 445335.7 556211.5 646344.5 842756.6 802081.5
9.Net liquid assets (B1-B5) -355709.1 -384268.8 -511378.2 -632181.3 -999356.2 -1252061.7
C.Fixed Assets:
1.Fixed Asset At Cost 1150211.4 1458664.4 1671976.7 1863049.7 2090354.5 2343722.9
2.Fixed assets after deducting accumulated depreciation 720328.2 858604.5 1016570.4 1160345.2 1329643.7 1453894.5
3.Depreciation for the year 60445.2 69186.1 75870.1 86225.3 96564.7 100172.3
4.Total assets (B4+C2) 1413014.9 1703455.3 2048418.1 2356601.1 2823459.0 3149532.3
D.Operation:
1.Gross sales 1632833.9 2031217.2 2570950.5 2837922.7 3356386.8 3431922.4
(i)Local sales 1507135.3 1898311.0 2406191.2 2632698.1 3104745.7 3104739.9
(ii)Export sales 125698.6 132906.2 164759.3 205224.6 251641.1 327182.5
2.Cost of Sales 1360160.9 1672723.8 2166348.2 2431127.0 2859893.8 2938185.9
3.Gross profit 272673.0 358493.4 404602.3 406795.7 496493.0 493736.5
4.Overhead and Other Expenses 1471056.3 1814613.0 2328818.5 2616505.1 3130055.8 3189172.9
5.Operating profit 199205.3 254458.2 305994.2 296425.9 298814.2 325319.6
6.Financial expenses 23751.7 29473.3 49293.8 67127.4 95936.5 128333.7
7.Net profit before tax (D5-D6) 175453.6 224984.9 256700.4 229298.5 202877.7 196985.9
8.Tax provision 49604.0 62677.7 73133.2 60628.3 91992.7 71173.8
9.Total amount of dividend 73715.2 70028.1 102525.7 97589.8 106204.7 115341.4
10.Total value of bonus shares issued 2263.2 3398.8 5763.8 2995.8 4765.0 4840.7
E.Sources of Increase In Capital Employed:
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 172834.0 202191.6 142069.0 154876.4 85918.3 101277.4
2.Retention in business (D7-D8-D9) 52134.4 92279.1 81041.5 71080.4 4680.3 10470.7
3.Finance from outside the company (E1-E2) 120699.6 109912.5 61027.5 83796.0 81238.0 90806.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 112579.6 161465.2 156911.6 157305.7 101245.0 110643.0
2.Depreciation for the year plus changes in capital employed (C3+E1) 233279.2 271377.7 217939.1 241101.7 182483.0 201449.7
G.Operating Financial & Investment Ratios:
1.Gearing ratio (A7 as % of A8) 27.1 22.9 24.7 27.5 30.8 30.1
2.Current ratio (B4 as % of B5) 116.0 123.3 116.2 114.9 105.0 102.9
3.Acid test or Quick ratio (B4-B3 as % B5) 85.3 93.1 89.1 88.8 79.6 82.9
4.Debt equity ratio (B6 as % of A3) 137.5 117.0 134.5 147.3 191.4 200.0
5.Return on assets (D7 as % of C4) 12.4 13.2 12.5 9.7 7.2 6.3
6.Self financing ratio (E2 as % of E1) 30.2 45.6 57.0 45.9 5.4 10.3
7.Cash flow ratio F1 as % of F2 48.3 59.5 72.0 65.2 55.5 54.9
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 194.6 221.6 234.6 241.6 231.0 238.6
9.Overhead and other expenses as % of gross sales (D4 as % D1) 90.1 89.3 90.6 92.2 93.3 92.9
10.Financial expenses as % of operating profit (D6 as % of D5) 11.9 11.6 16.1 22.6 32.1 39.4
11.Financial expense as % of gross sales (D6 as % of D1) 1.5 1.5 1.9 2.4 2.9 3.7
12.Financial expenses as % of contractual liabilities (D6 as % B8) 6.4 6.6 8.9 10.4 11.4 16.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 28.3 27.9 28.5 26.4 45.3 36.1
14.Sundry debtors as % of gross sales 7.0 7.8 7.8 8.8 10.9 15.6
15.Return on Equity (D7 as % of A3) 29.5 28.7 29.4 24.1 20.9 18.8
H.Key Performance Indicators:
1.Dividend cover ratio [(D7 - D8) as % of D9] 170.7 231.8 179.0 172.8 104.4 109.1
2.Dividend ratio to equity (D9 as % of A3) 12.4 8.9 11.7 10.2 11.0 11.0
3.Net profit margin (D7 as % of D1) 10.7 11.1 10.0 8.1 6.0 5.7
4.Earning per share before tax (D7/No. of ordinary shares) 5.7 6.4 6.9 5.8 4.8 4.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 4.1 4.6 4.9 4.3 2.6 2.9
6.Average annual % depreciation on written down fixed assets 9.2 9.2 8.8 8.6 8.3 8.0
7.Sales as % of total assets (D1 as % of C4) 115.6 119.2 125.5 120.4 118.9 109.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 39.0 12.3 7.8 -15.9 -17.2 -6.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 18.1 24.4 26.6 10.4 18.3 2.3
10.Break-up value of ordinary shares (in rupees) 19.5 22.2 23.5 24.2 23.1 23.9
1
Overall
Operating, Financial & Investment Ratios

250
200
% 150
100
50
0
2004 2005 2006 2007 2008 2009
Gearing ratio Debt equity ratio Current ratio

Private (Million Rupees)
Items 2004 2005 2006 2007 2008 2009
2.Surplus 211634.0 319837.8 402749.4 479868.0 486619.7 471550.8
5.Debentures 7546.9 16484.7 18018.3 31384.0 37255.7 33890.1
B.Liquidity:
1.Liquid Assets: 160047.9 224657.7 266378.1 340787.9 355255.9 347177.0
(i)Cash 90921.4 139135.3 108408.3 140648.6 145194.1 125268.1
(ii)Investments 69126.5 85522.4 157969.8 200139.3 210061.8 221908.9
3.Inventories 144697.0 179421.2 200624.0 235366.3 297817.7 286747.0
C.Fixed Assets:
4.Total assets (B4+C2) 933790.5 1208877.0 1430539.0 1844748.8 2192944.2 2325956.7
D.Operation:
1.Gross sales 1031308.4 1287627.4 1640222.3 1952451.1 2261888.1 2248470.8
(i)Local sales 913080.1 1167237.6 1496605.1 1747226.5 2010247.0 1921288.3
(ii)Export sales 118228.3 120389.8 143617.2 205224.6 251641.1 327182.5
2.Cost of Sales 853942.3 1040154.0 1337243.2 1678945.1 1942861.4 1932042.0
3.Gross profit 177366.1 247473.4 302979.1 273506.0 319026.7 316428.8
8.Tax provision 26730.9 39922.5 51181.0 33043.0 52493.8 38791.5
2.Retention in business (D7-D8-D9) 41519.6 71025.7 70161.1 58097.6 3288.3 -11705.1
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 31.0 39.0 57.2 27.0 4.5 -45.6
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 22.8 24.9 27.4 19.0 15.8 -0.6
3
Private

200
150
% 100
50
0
2004 2005 2006 2007 2008 2009

Public (Million Rupees)
Items 2004 2005 2006 2007 2008 2009
2.Surplus 77595.7 110907.7 98580.0 78631.1 62903.1 138137.2
5.Debentures 15926.7 14420.3 13247.0 13711.4 12430.1 19597.4
B.Liquidity:
1.Liquid Assets: 81136.3 76215.7 110279.7 68373.6 67670.2 47839.0
(i)Cash 69935.3 49171.0 75733.5 29041.7 27698.0 14112.2
(ii)Investments 11201.0 27044.7 34546.2 39331.9 39972.2 33726.8
3.Inventories 38842.6 27252.7 39943.9 36166.4 64209.2 42837.6
7.Net Current Assets(B4-B5) 15438.4 33282.4 1737.8 15446.1 -6752.0 16154.2
C.Fixed Assets:
4.Total assets (B4+C2) 479224.3 494578.0 617879.0 511852.5 630514.8 823575.6
D.Operation:
1.Gross sales 601525.5 743589.7 930728.2 885471.6 1094498.6 1183451.7
(i)Local sales 594055.2 731073.3 909586.1 885471.6 1094498.6 1183451.7
(ii)Export sales 7470.3 12516.4 21142.1 0.0 0.0 0.0
2.Cost of Sales 506218.6 632569.8 829105.0 752181.9 917032.4 1006144.0
3.Gross profit 95306.9 111019.9 101623.2 133289.7 177466.2 177307.7
8.Tax provision 22873.1 22755.1 21952.1 27585.3 39498.9 32382.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 39937.2 20172.9 19500.9 -60433.9 13238.7 75580.1
3.Finance from outside the company (E1-E2) 29322.4 -1080.4 8620.4 -73416.6 11846.6 53404.3
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 63076.3 47656.3 47591.4 -40641.3 35234.7 95237.3
6.Self financing ratio (E2 as % of E1) 26.6 105.4 55.8 -21.5 10.5 29.3
7.Cash flow ratio F1 as % of F2 53.5 102.3 81.9 -80.6 66.4 43.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 26.1 -31.0 -15.0 200.0 12.7 -1.7
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 11.1 23.6 25.2 -4.9 23.6 8.1
5
Public

350
300
250
% 200
150
100
50
0
2004 2005 2006 2007 2008 2009

Textile Sector
Textile Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 46532.9 66875.1 82835.2 103273.6 99395.5 93207.8
5.Debentures 1232.3 3809.7 8509.3 10540.8 4626.2 5519.7
B.Liquidity:
1.Liquid Assets: 18250.6 21657.9 42084.2 45664.5 55206.2 53092.2
(i)Cash 4183.1 5119.6 4836.7 4469.9 3549.5 3404.7
(ii)Investments 14067.5 16538.3 37247.5 41194.6 51656.7 49687.5
3.Inventories 48221.5 65966.8 65342.5 69284.4 91723.2 89825.9
C.Fixed Assets:
4.Total assets (B4+C2) 224758.0 282592.9 336181.5 389347.4 420775.8 421975.6
D.Operation:
1.Gross sales 227136.5 187364.1 250294.5 288506.1 315557.5 342209.2
(i)Local sales 123172.6 98149.2 139938.1 144851.5 166324.2 169311.6
(ii)Export sales 103963.9 89214.9 110356.4 143654.6 149233.3 172897.6
2.Cost of Sales 207428.3 164218.8 220338.1 253538.6 278948.1 298906.4
3.Gross profit 19708.2 23145.3 29956.4 34967.5 36609.4 43302.8
7.Net profit before tax (D5-D6) 7032.3 10130.0 7159.7 8000.8 7294.3 -3073.8
8.Tax provision 4212.5 1393.1 2072.0 4605.7 15459.3 2018.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 18211.7 37884.6 33903.0 22426.7 3037.2 -11595.3
2.Retention in business (D7-D8-D9) 1695.6 7395.2 3630.1 2541.4 -9610.1 -6481.7
3.Finance from outside the company (E1-E2) 16516.1 30489.4 30272.9 19885.3 12647.3 -5113.6
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 3.1 3.6 2.1 2.1 1.7 -0.7
6.Self financing ratio (E2 as % of E1) 9.3 19.5 10.7 11.3 -316.4 55.9
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 59.9 13.8 28.9 57.6 211.9 -65.7
15.Return on Equity (D7 as % of A3) 10.1 11.2 6.3 5.9 5.4 -2.3
1.Dividend cover ratio [(D7 - D8) as % of D9] 250.8 651.2 349.0 397.7 -565.0 -366.4
3.Net profit margin (D7 as % of D1) 3.1 5.4 2.9 2.8 2.3 -0.9
4.Earning per share before tax (D7/No. of ordinary shares) 3.0 4.4 2.3 2.4 2.1 -0.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 1.2 3.8 1.7 1.0 -2.3 -1.3
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -3.2 46.7 -47.7 4.3 -12.5 -138.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 20.4 -17.5 33.6 15.3 9.4 8.4
9
Cotton Textiles

250
200
150
%
100
50
0
2004 2005 2006 2007 2008 2009

(Colony) Sarhad Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 75.8 63.5 38.9 13.3 9.2 -180.1
3.Shareholder's Equity (A1+A2) 115.8 103.5 78.9 53.3 49.2 -140.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 459.0 447.4 422.8 80.7 353.9 -140.1
B.Liquidity:
1.Liquid Assets: 5.5 5.3 5.3 0.2 16.7 11.1
(i)Cash 0.5 0.3 0.3 0.2 0.2 0.1
(ii)Investments 5.0 5.0 5.0 0.0 16.5 11.0
3.Inventories 102.2 109.9 99.7 84.0 84.0 84.0
7.Net Current Assets(B4-B5) 66.8 57.4 34.5 -305.9 -31.8 -317.8
C.Fixed Assets:
4.Total assets (B4+C2) 616.3 615.3 603.0 591.5 601.6 428.2
D.Operation:
1.Gross sales 115.0 56.7 60.2 36.0 0.0 0.0
(i)Local sales 115.0 56.7 60.2 36.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 112.2 58.6 71.6 47.4 5.6 9.4
3.Gross profit 2.8 -1.9 -11.4 -11.4 -5.6 -9.4
5.Operating profit -3.6 -6.7 -17.4 -14.4 -7.8 -65.5
7.Net profit before tax (D5-D6) -10.6 -11.9 -24.4 -21.4 -14.8 -72.6
8.Tax provision 0.5 0.2 0.3 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -11.3 -11.6 -24.6 -342.1 273.2 -494.0
2.Retention in business (D7-D8-D9) -11.1 -12.1 -24.7 -21.4 -14.8 -72.6
3.Finance from outside the company (E1-E2) -0.2 0.5 0.1 -320.7 288.0 -421.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -9.1 -10.7 -22.9 -18.1 -13.9 -68.6
2.Depreciation for the year plus changes in capital employed (C3+E1) -9.3 -10.2 -22.8 -338.8 274.1 -490.0
5.Return on assets (D7 as % of C4) -1.7 -1.9 -4.0 -3.6 -2.5 -17.0
6.Self financing ratio (E2 as % of E1) - - 100.4 6.3 -5.4 14.7
7.Cash flow ratio F1 as % of F2 - - 100.4 5.3 -5.1 14.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 289.5 258.8 197.3 133.3 123.0 -350.3
10.Financial expenses as % of operating profit (D6 as % of D5) - - -40.2 -48.6 -89.7 -10.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - -1.2 0.0 0.0 0.0
15.Return on Equity (D7 as % of A3) -9.2 -11.5 -30.9 -40.2 -30.1 0.0
1.Dividend cover ratio [(D7 - D8) as % of D9] - - 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -9.2 -21.0 -40.5 -59.4 0.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) -2.7 -3.0 -6.1 -5.4 -3.7 -18.2
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -2.8 -3.0 -6.2 -5.4 -3.7 -18.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -30.8 11.1 103.3 -11.5 -31.5 391.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -16.1 -50.7 6.2 -40.2 -100.0 -
10.Break-up value of ordinary shares (in rupees) 29.0 25.9 19.7 13.3 12.3 -35.0
11
(Colony) Thal Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 79.5 82.2 101.5 52.5 18.1 -21.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 34.6 7.1 3.9 1.6 3.3 4.0
(i)Cash 34.6 7.1 3.9 1.6 3.3 4.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 24.7 75.5 95.9 85.2 52.6 56.9
7.Net Current Assets(B4-B5) -109.9 -103.0 -62.7 2.4 -91.3 -88.9
C.Fixed Assets:
4.Total assets (B4+C2) 490.2 526.0 511.7 521.3 472.0 456.5
D.Operation:
1.Gross sales 369.6 542.2 881.4 777.4 374.9 120.6
(i)Local sales 369.6 542.2 881.4 777.4 374.9 120.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 361.4 516.1 831.3 748.5 374.1 132.8
3.Gross profit 8.2 26.1 50.1 28.9 0.8 -12.2
5.Operating profit -12.9 15.2 13.2 12.3 -8.7 -6.6
7.Net profit before tax (D5-D6) -20.9 4.4 -6.5 -13.6 -32.6 -34.7
8.Tax provision 0.0 2.4 4.4 3.9 1.9 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 60.0 29.1 14.2 68.9 -106.3 -43.5
2.Retention in business (D7-D8-D9) -20.9 2.0 -11.5 -17.5 -34.5 -34.7
3.Finance from outside the company (E1-E2) 80.9 27.1 25.7 86.4 -71.8 -8.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -10.3 12.2 1.7 -3.5 -21.1 -22.0
2.Depreciation for the year plus changes in capital employed (C3+E1) 70.6 39.3 27.4 82.9 -92.9 -30.8
5.Return on assets (D7 as % of C4) -4.3 0.8 -1.3 -2.6 -6.9 -7.6
6.Self financing ratio (E2 as % of E1) -34.8 6.9 -81.0 -25.4 32.5 79.8
7.Cash flow ratio F1 as % of F2 -14.6 31.0 6.2 -4.2 22.7 71.4
10.Financial expenses as % of operating profit (D6 as % of D5) - 71.1 149.2 210.6 -274.7 -425.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 54.5 -67.7 -28.7 -5.8 0.0
15.Return on Equity (D7 as % of A3) -15.5 3.2 -4.1 -12.6 -44.2 -101.5
1.Dividend cover ratio [(D7 - D8) as % of D9] - - -1816.7 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -5.7 0.8 -0.7 -1.7 -8.7 -28.8
4.Earning per share before tax (D7/No. of ordinary shares) -3.8 0.8 -1.2 -2.4 -5.9 -6.2
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -3.8 0.4 -2.0 -3.1 -6.2 -6.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -22.4 -121.1 -250.0 100.0 145.8 5.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 71.6 46.7 62.6 -11.8 -51.8 -67.8
12
Accord Textiles Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -319.2 -81.8 -405.2 -437.5 -443.7 -443.7
3.Shareholder's Equity (A1+A2) -226.2 11.2 -312.2 -344.5 -350.7 -350.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 192.3 190.5 -231.2 -59.4 -120.9 -120.9
B.Liquidity:
1.Liquid Assets: 8.2 2.7 2.2 1.1 0.4 0.4
(i)Cash 8.2 2.7 2.2 1.1 0.4 0.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 47.5 63.0 69.0 13.0 11.6 11.6
7.Net Current Assets(B4-B5) -115.0 -112.6 -518.8 -332.9 -380.8 -380.8
C.Fixed Assets:
4.Total assets (B4+C2) 390.9 389.8 387.9 323.7 278.7 278.7
D.Operation:
1.Gross sales 273.2 192.4 269.3 387.9 378.8 378.8
(i)Local sales 273.2 192.4 269.3 387.9 378.8 378.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 303.0 210.4 306.9 415.4 380.9 380.9
3.Gross profit -29.8 -18.0 -37.6 -27.5 -2.1 -2.1
5.Operating profit -16.5 -22.0 1.5 -31.6 -5.7 -5.7
8.Tax provision 1.4 0.8 1.3 1.9 1.9 1.9
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 260.1 -1.8 -421.7 171.8 -61.5 0.0
3.Finance from outside the company (E1-E2) 279.1 21.0 -419.3 206.2 -53.4 8.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -2.8 -11.0 12.7 -20.2 5.5 5.5
2.Depreciation for the year plus changes in capital employed (C3+E1) 276.3 10.0 -406.6 186.0 -47.9 13.6
4.Debt equity ratio (B6 as % of A3) - 3382.1 0.0 0.0 0.0 0.0
6.Self financing ratio (E2 as % of E1) -7.3 - 0.6 -20.0 13.2 0.0
7.Cash flow ratio F1 as % of F2 -1.0 -110.0 -3.1 -10.9 -11.5 40.4
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -243.2 12.0 -335.7 -370.4 -377.1 -377.1
10.Financial expenses as % of operating profit (D6 as % of D5) - - 173.3 -2.8 -8.8 -8.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - -118.2 -5.8 -30.6 -30.6
15.Return on Equity (D7 as % of A3) - -196.4 0.0 0.0 0.0 0.0
2.Dividend ratio to equity (D9 as % of A3) - 0.0 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -6.4 -11.4 -0.4 -8.4 -1.6 -1.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -50.0 26.3 -95.8 3400.0 -80.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 1.8 -29.6 40.0 44.0 -2.3 0.0
10.Break-up value of ordinary shares (in rupees) -24.3 1.2 -33.6 -37.0 -37.7 -37.7
13
Adil Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 34.3 34.3 10.5 -26.1 -52.0 -90.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.4 33.5 0.3 0.2 0.0 0.0
(i)Cash 0.4 33.5 0.3 0.2 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 96.3 181.0 74.2 51.1 17.6 3.9
C.Fixed Assets:
4.Total assets (B4+C2) 565.8 712.0 585.2 541.2 498.1 462.7
D.Operation:
1.Gross sales 371.8 316.0 310.6 210.7 44.1 0.0
(i)Local sales 185.6 205.1 257.9 210.7 44.1 0.0
(ii)Export sales 186.2 110.9 52.7 0.0 0.0 0.0
2.Cost of Sales 367.0 292.8 290.4 210.0 62.5 34.6
3.Gross profit 4.8 23.2 20.2 0.7 -18.4 -34.6
5.Operating profit -12.7 12.7 5.5 -6.5 -24.1 -36.6
8.Tax provision 1.7 1.5 1.6 1.1 0.2 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 10.7 -9.1 -31.9 -68.6 -55.9 -62.0
3.Finance from outside the company (E1-E2) 33.8 -8.6 -9.3 -32.0 -30.1 -23.6
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -3.5 15.1 -2.8 -16.1 -5.3 -20.0
2.Depreciation for the year plus changes in capital employed (C3+E1) 30.3 6.5 -12.1 -48.1 -35.4 -43.6
6.Self financing ratio (E2 as % of E1) -215.9 - 70.8 53.4 46.2 61.9
7.Cash flow ratio F1 as % of F2 -11.6 232.3 23.1 33.5 15.0 45.9
10.Financial expenses as % of operating profit (D6 as % of D5) - 92.1 481.8 -446.2 -6.2 -4.9
15.Return on Equity (D7 as % of A3) -19.2 0.9 -23.9 -69.3 -101.2 0.0
3.Net profit margin (D7 as % of D1) -5.8 0.3 -6.8 -16.8 -58.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -93.8 -103.6 -2800.0 70.4 -28.3 51.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 196.0 -15.0 -1.7 -32.2 -79.1 -100.0
14
Ahmed Hassan Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 221.7 275.4 245.0 225.7 691.5 627.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.6 8.4 5.3 1.3 2.1
(i)Cash 0.2 0.6 8.4 5.0 1.0 1.8
(ii)Investments 0.0 0.0 0.0 0.3 0.3 0.3
3.Inventories 228.6 414.9 432.5 426.1 582.8 688.6
C.Fixed Assets:
4.Total assets (B4+C2) 1063.7 1592.5 1662.4 1856.4 2870.0 2960.8
D.Operation:
1.Gross sales 1845.7 1386.0 2054.6 2169.7 2556.3 2736.4
(i)Local sales 826.6 727.1 1081.3 1101.8 1279.8 1458.6
(ii)Export sales 1019.1 658.9 973.3 1067.9 1276.5 1277.8
2.Cost of Sales 1748.4 1247.0 1855.9 1988.7 2350.5 2404.3
3.Gross profit 97.3 139.0 198.7 181.0 205.8 332.1
7.Net profit before tax (D5-D6) 15.6 60.1 28.8 2.8 -103.7 -52.9
8.Tax provision 5.7 7.4 11.7 0.0 13.2 12.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -10.5 302.6 -63.6 21.0 689.2 -104.0
3.Finance from outside the company (E1-E2) -20.4 249.9 -80.7 18.2 806.1 -38.5
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 55.8 350.2 36.0 128.8 810.5 -0.5
5.Return on assets (D7 as % of C4) 1.5 3.8 1.7 0.2 -3.6 -1.8
6.Self financing ratio (E2 as % of E1) - 17.4 -26.9 13.3 -17.0 63.0
7.Cash flow ratio F1 as % of F2 136.6 28.6 324.2 85.9 0.5 -7600.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 36.5 12.3 40.6 0.0 -12.7 -23.8
15.Return on Equity (D7 as % of A3) 4.5 15.0 7.8 0.8 -12.4 -6.9
3.Net profit margin (D7 as % of D1) 0.8 4.3 1.4 0.1 -4.1 -1.9
4.Earning per share before tax (D7/No. of ordinary shares) 1.2 4.8 2.3 0.2 -7.2 -3.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -66.7 300.0 -52.1 -91.3 -3700.0 -48.6
15
Al-Azhar Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -52.1 -57.1 -57.1 -99.9 -99.9 -99.9
3.Shareholder's Equity (A1+A2) 33.4 28.4 28.4 -14.4 -14.4 -14.4
5.Debentures 0.0 24.6 24.6 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.5 5.5 5.5 1.9 1.9 1.9
(i)Cash 4.5 5.5 5.5 1.9 1.9 1.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 80.6 49.2 49.2 2.0 2.0 2.0
C.Fixed Assets:
4.Total assets (B4+C2) 525.3 468.6 468.6 513.4 513.4 513.4
D.Operation:
1.Gross sales 650.7 375.9 375.9 555.1 555.1 555.1
(i)Local sales 564.1 113.2 113.2 549.1 549.1 549.1
(ii)Export sales 86.6 262.7 262.7 6.0 6.0 6.0
2.Cost of Sales 634.2 367.3 367.3 549.0 549.0 549.0
3.Gross profit 16.5 8.6 8.6 6.1 6.1 6.1
5.Operating profit 10.4 -0.1 -0.1 -5.6 -5.6 -5.6
8.Tax provision 2.9 1.7 1.7 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -40.1 -54.4 0.0 -29.0 0.0 0.0
3.Finance from outside the company (E1-E2) -13.1 -27.6 26.8 0.5 29.5 29.5
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 0.4 -26.7 27.7 3.1 32.1 32.1
6.Self financing ratio (E2 as % of E1) - - 0.0 101.7 0.0 0.0
7.Cash flow ratio F1 as % of F2 3375.0 - 3.2 83.9 8.1 8.1
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 39.1 33.2 33.2 -16.8 -16.8 -16.8
10.Financial expenses as % of operating profit (D6 as % of D5) 331.7 - -25000.0 -426.8 -426.8 -426.8
15.Return on Equity (D7 as % of A3) -72.2 -88.4 -88.4 0.0 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -31.7 3.6 0.0 20.7 0.0 0.0
10.Break-up value of ordinary shares (in rupees) 3.9 3.3 3.3 -1.7 -1.7 -1.7
16
Al-Qadir Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 200.5 285.4 209.8 249.4 13.7 231.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 13.0 5.2 8.1 7.6 6.0 7.3
(i)Cash 13.0 5.2 8.1 7.6 6.0 7.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 84.4 118.7 188.2 103.4 182.5 163.2
7.Net Current Assets(B4-B5) 10.2 -57.2 -116.5 -78.4 -242.1 -73.0
C.Fixed Assets:
4.Total assets (B4+C2) 520.3 615.5 630.9 584.5 611.8 578.6
D.Operation:
1.Gross sales 946.4 747.4 876.6 861.1 828.5 761.9
(i)Local sales 592.0 455.4 502.9 405.1 603.4 595.8
(ii)Export sales 354.4 292.0 373.7 456.0 225.1 166.1
2.Cost of Sales 901.0 663.1 790.8 783.5 788.9 705.9
3.Gross profit 45.4 84.3 85.8 77.6 39.6 56.0
7.Net profit before tax (D5-D6) 4.4 71.4 34.1 15.4 -11.2 10.8
8.Tax provision 4.3 3.5 5.5 6.8 2.2 6.5
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -16.9 -39.8 -75.6 39.6 -168.2 150.5
2.Retention in business (D7-D8-D9) 0.1 67.9 28.6 8.6 -13.4 4.3
3.Finance from outside the company (E1-E2) -17.0 -107.7 -104.2 31.0 -154.8 146.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 6.4 -20.2 -75.0 67.4 -140.6 176.2
5.Return on assets (D7 as % of C4) 0.8 11.6 5.4 2.6 -1.8 1.9
6.Self financing ratio (E2 as % of E1) - - -37.8 21.7 8.0 2.9
7.Cash flow ratio F1 as % of F2 365.6 - -38.9 54.0 -10.1 17.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 97.7 4.9 16.1 44.2 -19.6 60.2
15.Return on Equity (D7 as % of A3) 1.6 19.8 11.9 4.7 -12.5 3.5
3.Net profit margin (D7 as % of D1) 0.5 9.6 3.9 1.8 -1.4 1.4
4.Earning per share before tax (D7/No. of ordinary shares) 0.6 9.4 4.5 2.0 -1.5 1.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.0 9.0 3.8 1.1 -1.8 0.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 500.0 1466.7 -52.1 -55.6 -175.0 -193.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 20.1 -21.0 17.3 -1.8 -3.8 -8.0
17
Ali Asghar Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -212.4 215.1 347.2 237.2 197.0 1.4
3.Shareholder's Equity (A1+A2) -20.9 406.6 538.7 428.7 419.1 223.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 13.3 1.5 1.2 10.1 1.5 0.6
(i)Cash 13.3 1.5 1.2 10.1 1.5 0.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 145.2 155.4 135.3 135.5 185.0 110.2
C.Fixed Assets:
4.Total assets (B4+C2) 427.3 975.5 1188.4 1242.6 1234.6 1099.8
D.Operation:
1.Gross sales 462.5 442.6 589.4 550.8 485.8 505.5
(i)Local sales 458.8 440.1 571.1 538.0 481.0 495.2
(ii)Export sales 3.7 2.5 18.3 12.8 4.8 10.3
2.Cost of Sales 416.5 387.8 510.0 489.5 433.7 574.6
3.Gross profit 46.0 54.8 79.4 61.3 52.1 -69.1
5.Operating profit 32.1 37.2 64.8 48.5 31.4 -98.2
7.Net profit before tax (D5-D6) -1.2 5.8 12.1 -26.7 -37.8 -195.4
8.Tax provision 2.3 2.1 2.9 2.8 2.4 0.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 101.1 446.8 249.8 -25.5 22.2 -256.9
2.Retention in business (D7-D8-D9) -3.5 3.7 9.2 -29.5 -40.2 -195.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 9.0 14.4 22.3 5.1 -13.3 -169.8
5.Return on assets (D7 as % of C4) -0.3 0.6 1.0 -2.1 -3.1 -17.8
6.Self financing ratio (E2 as % of E1) -3.5 0.8 3.7 115.7 -181.1 76.1
7.Cash flow ratio F1 as % of F2 7.9 3.1 8.5 56.0 -27.1 73.4
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -10.9 212.3 281.3 223.9 188.7 100.6
10.Financial expenses as % of operating profit (D6 as % of D5) 103.7 84.4 81.3 155.1 220.4 -99.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 36.2 24.0 -10.5 -6.3 -0.1
15.Return on Equity (D7 as % of A3) - 1.4 2.2 -6.2 -9.0 -87.4
3.Net profit margin (D7 as % of D1) -0.3 1.3 2.1 -4.8 -7.8 -38.7
4.Earning per share before tax (D7/No. of ordinary shares) -0.1 0.3 0.6 -1.4 -1.7 -8.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.2 0.2 0.5 -1.5 -1.8 -8.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -92.3 -400.0 100.0 -333.3 21.4 417.6
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 26.2 -4.3 33.2 -6.5 -11.8 4.1
10.Break-up value of ordinary shares (in rupees) -1.1 21.2 28.1 22.4 18.9 10.1
18
Allawasaya Textile & Finishing Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 115.7 129.3 116.8 115.9 75.9 115.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 12.6 4.6 7.0 9.5 5.4 6.2
(i)Cash 10.9 2.9 5.3 7.2 3.1 3.9
(ii)Investments 1.7 1.7 1.7 2.3 2.3 2.3
3.Inventories 71.2 41.6 126.7 95.8 255.6 184.2
7.Net Current Assets(B4-B5) 37.8 37.9 22.0 25.2 -40.5 -51.3
C.Fixed Assets:
4.Total assets (B4+C2) 208.5 222.7 312.5 276.2 552.9 570.6
D.Operation:
1.Gross sales 864.0 684.7 790.8 827.4 865.7 1067.0
(i)Local sales 864.0 684.7 790.8 827.4 865.7 1067.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 822.9 643.8 751.1 792.1 848.2 1013.5
3.Gross profit 41.1 40.9 39.7 35.3 17.5 53.5
5.Operating profit 30.3 27.4 19.5 17.3 -4.8 29.4
8.Tax provision 0.0 7.4 4.0 4.1 4.3 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 14.1 13.6 -12.5 -0.9 44.4 44.3
3.Finance from outside the company (E1-E2) -11.7 -0.7 -13.1 -3.3 79.7 83.7
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 24.0 22.2 -0.1 10.5 56.1 71.1
6.Self financing ratio (E2 as % of E1) 183.0 105.1 -4.8 -266.7 -79.5 -88.9
7.Cash flow ratio F1 as % of F2 148.8 103.2 -13000.0 131.4 -42.1 -17.7
10.Financial expenses as % of operating profit (D6 as % of D5) 11.6 17.2 61.0 62.4 -545.8 234.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 520.4 -15.2 -66.5 -14.7 -579.0 27.1
19
Amin Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -359.6 -382.1 -134.0 -156.5 -167.9 -167.9
3.Shareholder's Equity (A1+A2) -307.8 -330.3 -82.2 -104.7 -116.1 -116.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 73.3 -254.9 18.3 -4.2 -2.9 -2.9
B.Liquidity:
1.Liquid Assets: 0.5 0.7 0.1 0.3 0.4 0.4
(i)Cash 0.5 0.7 0.1 0.3 0.4 0.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 12.6 16.4 16.8 18.5 14.4 14.4
C.Fixed Assets:
4.Total assets (B4+C2) 141.3 158.4 147.3 145.1 130.4 130.4
D.Operation:
1.Gross sales 221.9 141.2 278.2 306.0 330.8 330.8
(i)Local sales 221.9 141.2 278.2 306.0 330.8 330.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 243.9 152.5 275.9 294.0 325.1 325.1
3.Gross profit -22.0 -11.3 2.3 12.0 5.7 5.7
5.Operating profit 201.9 -18.6 249.5 -6.7 -11.6 -11.6
7.Net profit before tax (D5-D6) 199.1 -22.0 249.4 -6.8 -11.8 -11.8
8.Tax provision 1.1 0.6 1.4 1.5 1.7 1.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 457.0 -328.2 273.2 -22.5 1.3 0.0
2.Retention in business (D7-D8-D9) 198.0 -22.6 248.0 -8.3 -13.5 -13.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 211.1 -12.5 261.7 3.9 -2.0 -2.0
2.Depreciation for the year plus changes in capital employed (C3+E1) 470.1 -318.1 286.9 -10.3 12.8 11.5
1.Gearing ratio (A7 as % of A8) 519.9 - 549.2 0.0 0.0 0.0
4.Debt equity ratio (B6 as % of A3) - - 0.0 0.0 0.0 0.0
5.Return on assets (D7 as % of C4) 140.9 -13.9 169.3 -4.7 -9.0 -9.0
6.Self financing ratio (E2 as % of E1) 43.3 - 90.8 36.9 -1038.5 0.0
7.Cash flow ratio F1 as % of F2 44.9 - 91.2 -37.9 -15.6 -17.4
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -594.2 -637.6 -158.7 -202.1 -224.1 -224.1
10.Financial expenses as % of operating profit (D6 as % of D5) 1.4 - 0.0 -1.5 -1.7 -1.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 0.6 - 0.6 -22.1 -14.4 -14.4
15.Return on Equity (D7 as % of A3) - - 0.0 0.0 0.0 0.0
2.Dividend ratio to equity (D9 as % of A3) - - 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 89.7 -15.6 89.6 -2.2 -3.6 -3.6
4.Earning per share before tax (D7/No. of ordinary shares) 38.4 -4.2 48.1 -1.3 -2.3 -2.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 38.2 -4.4 47.9 -1.6 -2.6 -2.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -425.4 -110.9 -1245.2 -102.7 76.9 0.0
10.Break-up value of ordinary shares (in rupees) -59.4 -63.8 -15.9 -20.2 -22.4 -22.4
20
Annoor Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -11.0 -12.1 -12.1 -31.2 -33.6 -30.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 2.9 -0.5 -0.5 -17.0 -6.0 -21.9
B.Liquidity:
1.Liquid Assets: 0.4 0.2 0.2 0.2 0.2 0.2
(i)Cash 0.4 0.2 0.2 0.2 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 12.3 12.3 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 31.9 57.9 57.9 38.8 36.6 35.0
D.Operation:
1.Gross sales 0.0 27.6 27.6 0.0 0.0 0.0
(i)Local sales 0.0 27.6 27.6 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 28.0 28.0 2.5 0.0 0.0
3.Gross profit 0.0 -0.4 -0.4 -2.5 0.0 0.0
8.Tax provision 0.0 0.1 0.1 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 0.0 -3.4 0.0 -16.5 11.0 -15.9
2.Retention in business (D7-D8-D9) 11.3 -1.1 -1.1 -2.8 -0.1 -2.5
3.Finance from outside the company (E1-E2) -11.3 -2.3 1.1 -13.7 11.1 -13.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 11.4 1.1 1.1 -0.3 2.1 -0.5
2.Depreciation for the year plus changes in capital employed (C3+E1) 0.1 -1.2 2.2 -14.0 13.2 -13.9
5.Return on assets (D7 as % of C4) 8.2 -1.7 -1.7 -7.2 -0.3 -7.1
9.Overhead and other expenses as % of gross sales (D4 as % D1) - 103.6 103.6 0.0 0.0 0.0
10.Financial expenses as % of operating profit (D6 as % of D5) 0.0 - 0.0 0.0 0.0 0.0
11.Financial expense as % of gross sales (D6 as % of D1) - 0.0 0.0 0.0 0.0 0.0
14.Sundry debtors as % of gross sales - 29.7 29.7 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) - -3.6 -3.6 0.0 0.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) 0.3 -1.1 -1.1 -3.2 -0.1 -2.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.3 -1.3 -1.3 -3.2 -0.1 -2.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -84.3 0.0 190.9 -96.9 2800.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 - 0.0 -100.0 - -
21
Apollo Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 173.8 792.7 581.7 576.0 628.9 570.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 73.7 23.2 90.4 8.2 15.6 12.1
(i)Cash 68.9 22.3 90.4 8.2 9.9 12.1
(ii)Investments 4.8 0.9 0.0 0.0 5.7 0.0
3.Inventories 228.2 502.6 532.8 676.5 1201.7 1430.6
7.Net Current Assets(B4-B5) 6.1 6.1 -301.9 -304.3 -486.2 -318.9
C.Fixed Assets:
4.Total assets (B4+C2) 1469.2 2677.2 2790.8 2850.8 3065.5 3103.1
D.Operation:
1.Gross sales 1343.2 1089.0 1783.7 1864.6 1137.6 821.1
(i)Local sales 642.8 312.7 504.3 413.0 524.6 735.1
(ii)Export sales 700.4 776.3 1279.4 1451.6 613.0 86.0
2.Cost of Sales 1244.1 935.5 1527.3 1521.3 899.3 758.7
3.Gross profit 99.1 153.5 256.4 343.3 238.3 62.4
8.Tax provision 10.8 11.1 18.3 23.8 8.7 1.5
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 252.7 1096.2 -358.9 -112.2 -263.8 43.9
2.Retention in business (D7-D8-D9) 2.9 17.0 10.6 -22.1 -52.0 -50.0
3.Finance from outside the company (E1-E2) 249.8 1079.2 -369.5 -90.1 -211.8 93.9
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 1.1 1.6 -3.0 19.7 19.7 -113.9
7.Cash flow ratio F1 as % of F2 18.5 5.3 -60.6 505.9 -54.1 45.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.4 2.1 1.3 -2.7 -6.3 -6.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 29.0 -18.9 63.8 4.5 -39.0 -27.8
22
Artistic Denim Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 606.4 1229.1 1589.5 1423.3 1632.8 1841.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 42.1 22.9 275.9 9.9 67.3 19.7
(i)Cash 42.1 22.9 275.9 9.9 67.3 7.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 12.2
3.Inventories 296.1 295.5 355.1 567.7 796.6 654.6
7.Net Current Assets(B4-B5) 57.5 -77.3 65.3 -110.8 54.5 -272.9
C.Fixed Assets:
4.Total assets (B4+C2) 1422.4 2698.9 3587.8 4206.6 4582.9 4651.8
D.Operation:
1.Gross sales 1843.7 3202.7 2491.5 2499.5 2461.8 3125.4
(i)Local sales 63.6 22.2 28.5 56.8 102.0 123.8
(ii)Export sales 1780.1 3180.5 2463.0 2442.7 2359.8 3001.6
2.Cost of Sales 1516.5 2346.2 1746.5 1758.0 1823.9 2427.4
3.Gross profit 327.2 856.5 745.0 741.5 637.9 698.0
8.Tax provision 18.5 32.1 29.5 30.0 24.7 32.5
3.Finance from outside the company (E1-E2) 35.7 609.0 420.7 -178.0 -38.0 -372.3
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 20.2 200.6 -23.2 -82.4 -30.2 11.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 36.5 73.7 -22.2 0.3 -1.5 27.0
23
Aruj Garment Accessories Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 11.2 13.7 20.3 29.7 30.3 24.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.7 5.6 3.3 6.7 6.3 14.3
(i)Cash 1.7 5.6 3.3 6.7 6.3 14.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 15.8 28.8 44.8 65.6 61.7 66.8
7.Net Current Assets(B4-B5) -17.8 -4.5 1.6 8.3 3.1 -12.8
C.Fixed Assets:
4.Total assets (B4+C2) 91.1 132.8 159.9 189.8 213.1 232.7
D.Operation:
1.Gross sales 80.5 84.8 193.6 231.2 263.4 298.9
(i)Local sales 62.5 71.1 171.6 205.9 56.3 220.1
(ii)Export sales 18.0 13.7 22.0 25.3 207.1 78.8
2.Cost of Sales 71.9 75.7 166.8 202.3 236.0 268.0
3.Gross profit 8.6 9.1 26.8 28.9 27.4 30.9
8.Tax provision 0.9 0.4 3.4 4.1 1.3 0.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -4.1 33.7 9.0 10.9 25.8 -22.8
3.Finance from outside the company (E1-E2) -5.2 31.0 -5.0 -1.3 15.0 -21.4
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 8.0 155.6 111.9 41.9 6.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -153.8 -28.6 460.0 -3.6 -25.9 -30.0
24
Ashfaq Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 11.0 26.4 34.3 30.9 85.0 95.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.6 4.0 29.4 21.4 2.7 3.5
(i)Cash 6.6 4.0 29.4 21.4 2.7 3.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 94.8 127.2 138.5 138.6 156.6 141.0
C.Fixed Assets:
4.Total assets (B4+C2) 343.4 516.9 571.9 599.7 597.1 546.3
D.Operation:
1.Gross sales 449.2 757.8 876.7 595.7 485.7 680.4
(i)Local sales 33.7 18.6 13.7 18.4 19.2 33.4
(ii)Export sales 415.5 739.2 863.0 577.3 466.5 647.0
2.Cost of Sales 388.7 663.2 761.5 510.2 410.9 585.0
3.Gross profit 60.5 94.6 115.2 85.5 74.8 95.4
8.Tax provision 4.4 7.2 10.3 7.4 4.6 7.1
3.Finance from outside the company (E1-E2) 8.9 46.3 -26.3 -44.8 32.7 -6.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 23.0 70.8 -2.2 -23.4 52.6 19.4
6.Self financing ratio (E2 as % of E1) 47.3 24.2 -77.7 -18.2 13.0 227.7
7.Cash flow ratio F1 as % of F2 61.3 34.6 -1095.5 -91.5 37.8 130.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 38.5 72.2 0.0 -35.5 -30.0 78.6
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 44.6 68.7 15.7 -32.1 -18.5 40.1
25
Asim Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -216.5 -256.5 -370.4 -371.3 -367.4 -397.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.7 16.4 2.6 9.8 141.8 46.7
(i)Cash 3.7 16.4 2.6 9.8 141.8 46.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 31.8 33.6 60.9 46.5 90.8 19.6
C.Fixed Assets:
4.Total assets (B4+C2) 519.1 523.2 526.4 507.3 533.1 479.7
D.Operation:
1.Gross sales 497.3 285.5 515.3 536.3 630.0 650.4
(i)Local sales 493.2 275.1 502.5 513.2 630.0 650.4
(ii)Export sales 4.1 10.4 12.8 23.1 0.0 0.0
2.Cost of Sales 491.8 298.5 500.1 529.1 620.1 677.7
3.Gross profit 5.5 -13.0 15.2 7.2 9.9 -27.3
5.Operating profit -3.1 -18.7 5.2 -2.6 2.4 -33.7
7.Net profit before tax (D5-D6) -35.6 -39.5 -17.9 -2.7 2.4 -33.7
8.Tax provision 2.0 1.4 2.6 2.7 3.2 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -38.7 -40.0 -113.9 88.8 -85.8 -29.9
3.Finance from outside the company (E1-E2) -1.1 0.9 -93.4 94.2 -85.0 3.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -13.0 -23.4 2.1 16.6 20.5 -13.5
2.Depreciation for the year plus changes in capital employed (C3+E1) -14.1 -22.5 -91.3 110.8 -64.5 -9.7
5.Return on assets (D7 as % of C4) -6.9 -7.5 -3.4 -0.5 0.5 -7.0
6.Self financing ratio (E2 as % of E1) - - 18.0 -6.1 0.9 112.7
7.Cash flow ratio F1 as % of F2 - - -2.3 15.0 -31.8 139.2
10.Financial expenses as % of operating profit (D6 as % of D5) - - 444.2 -3.8 0.0 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - -14.5 -100.0 133.3 0.0
3.Net profit margin (D7 as % of D1) -7.2 -13.8 -3.5 -0.5 0.4 -5.2
4.Earning per share before tax (D7/No. of ordinary shares) -2.3 -2.6 -1.2 -0.2 0.2 -2.2
26
Ayesha Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 318.3 348.0 1386.5 1158.4 1088.6 1378.2
5.Debentures 18.1 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 31.7 30.0 55.8 28.2 37.8 40.2
(i)Cash 28.2 26.5 52.3 6.8 21.5 7.4
(ii)Investments 3.5 3.5 3.5 21.4 16.3 32.8
3.Inventories 303.9 271.3 218.7 262.9 355.6 284.9
C.Fixed Assets:
4.Total assets (B4+C2) 1071.1 1036.7 2279.7 2350.0 2501.1 2955.5
D.Operation:
1.Gross sales 2360.5 1298.3 1920.8 2117.1 2119.1 1865.4
(i)Local sales 1981.4 1156.4 1508.0 1725.4 1870.0 1649.2
(ii)Export sales 379.1 141.9 412.8 391.7 249.1 216.2
2.Cost of Sales 2241.9 1200.7 1804.3 2076.9 2066.3 1864.6
3.Gross profit 118.6 97.6 116.5 40.2 52.8 0.8
7.Net profit before tax (D5-D6) 48.7 38.7 13.7 -60.3 -65.8 -211.8
8.Tax provision 13.7 7.5 9.4 10.4 10.5 2.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 94.8 -35.7 1095.0 64.7 -109.8 263.1
3.Finance from outside the company (E1-E2) 59.8 -66.9 1090.7 135.4 -33.5 477.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 149.7 6.6 1161.8 198.1 -40.2 331.2
5.Return on assets (D7 as % of C4) 4.5 3.7 0.6 -2.6 -2.6 -7.2
6.Self financing ratio (E2 as % of E1) 36.9 - 0.4 -109.3 69.5 -81.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 28.1 19.4 68.6 -17.2 -16.0 -1.0
15.Return on Equity (D7 as % of A3) 14.7 10.7 1.0 -5.1 -6.0 -15.2
3.Net profit margin (D7 as % of D1) 2.1 3.0 0.7 -2.8 -3.1 -11.4
4.Earning per share before tax (D7/No. of ordinary shares) 34.8 27.6 9.8 -43.1 -47.0 -151.3
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 84.1 -20.7 -64.5 -539.8 9.0 221.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 42.7 -45.0 47.9 10.2 0.1 -12.0
27
Azam Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 117.7 99.4 54.4 57.8 -45.9 1.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.6 2.8 1.8 4.7 4.5 2.0
(i)Cash 0.6 2.8 1.8 4.7 4.5 2.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 122.5 108.0 126.5 136.0 139.8 136.7
C.Fixed Assets:
4.Total assets (B4+C2) 621.5 713.8 688.5 696.9 650.6 695.2
D.Operation:
1.Gross sales 326.2 260.8 428.6 476.3 456.4 465.2
(i)Local sales 326.2 260.8 428.6 476.3 456.4 465.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 308.8 236.8 373.2 423.5 400.6 443.1
3.Gross profit 17.4 24.0 55.4 52.8 55.8 22.1
7.Net profit before tax (D5-D6) -16.5 0.4 5.9 6.2 10.5 -29.3
8.Tax provision 1.7 1.5 2.5 2.7 2.6 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 187.3 -105.1 -76.3 -21.6 -105.5 32.9
2.Retention in business (D7-D8-D9) -18.2 -1.1 3.4 3.5 7.9 -29.3
3.Finance from outside the company (E1-E2) 205.5 -104.0 -79.7 -25.1 -113.4 62.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 6.1 16.2 27.8 27.9 31.7 -5.5
5.Return on assets (D7 as % of C4) -2.7 0.1 0.9 0.9 1.6 -4.2
6.Self financing ratio (E2 as % of E1) -9.7 - -4.5 -16.2 -7.5 -89.1
7.Cash flow ratio F1 as % of F2 2.9 - -53.6 996.4 -38.8 -9.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 375.0 42.4 43.5 24.8 0.0
15.Return on Equity (D7 as % of A3) -6.6 0.2 3.2 3.3 12.1 -21.8
3.Net profit margin (D7 as % of D1) -5.1 0.2 1.4 1.3 2.3 -6.3
4.Earning per share before tax (D7/No. of ordinary shares) -1.2 0.0 0.4 0.5 0.8 -2.2
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.4 -0.1 0.3 0.3 0.6 -2.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -69.2 -100.0 0.0 25.0 60.0 -375.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -60.3 -20.0 64.3 11.1 -4.2 1.9
28
Azgard Nine Ltd.(Legler-Nafees Denim Mills Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 991.0 1563.3 2102.5 2017.4 6482.8 13575.0
5.Debentures 0.0 2393.7 7713.0 10404.3 3962.5 3972.2
B.Liquidity:
1.Liquid Assets: 132.7 807.1 1133.0 1513.1 11622.6 15199.1
(i)Cash 20.9 46.3 1133.0 630.1 82.1 204.3
(ii)Investments 111.8 760.8 0.0 883.0 11540.5 14994.8
3.Inventories 1394.7 2123.7 2904.0 2532.1 4034.1 4414.9
7.Net Current Assets(B4-B5) 662.6 424.6 -2873.2 -1235.1 8330.7 10320.0
9.Net liquid assets (B1-B5) -2481.3 -3683.9 -8802.8 -9173.2 1268.8 1063.8
C.Fixed Assets:
4.Total assets (B4+C2) 6208.8 10510.1 27076.5 29933.9 27338.1 38509.8
D.Operation:
1.Gross sales 3304.0 4662.2 6624.7 12937.0 11827.0 11737.8
(i)Local sales 1613.2 791.6 2492.8 7504.5 11724.8 1683.7
(ii)Export sales 1690.8 3870.6 4131.9 5432.5 102.2 10054.1
2.Cost of Sales 2584.0 3523.7 4732.0 8362.6 8238.4 8546.4
3.Gross profit 720.0 1138.5 1892.7 4574.4 3588.6 3191.4
8.Tax provision 20.0 47.9 123.6 100.4 13287.6 118.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 1168.2 2424.3 11121.5 2107.1 -2263.2 7390.0
2.Retention in business (D7-D8-D9) 291.8 577.6 -120.2 1472.0 -14745.3 -346.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 469.7 841.9 415.0 2201.6 -14206.8 223.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 22.9 41.1 42.1 95.3 -8.6 -0.8
29
Babri Cotton Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 230.0 281.7 182.7 300.0 285.0 476.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.5 18.8 19.2 20.4 27.8 2.7
(i)Cash 1.5 0.7 0.4 0.6 5.5 0.5
(ii)Investments 4.0 18.1 18.8 19.8 22.3 2.2
3.Inventories 108.5 210.8 215.9 264.4 332.4 321.2
C.Fixed Assets:
4.Total assets (B4+C2) 560.7 937.8 899.8 1130.3 1180.1 1364.7
D.Operation:
1.Gross sales 553.0 402.4 610.9 746.9 739.9 747.0
(i)Local sales 553.0 402.4 610.9 746.9 739.9 747.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 486.8 394.5 580.0 672.2 694.2 695.8
3.Gross profit 66.2 7.9 30.9 74.7 45.7 51.2
5.Operating profit 44.2 -4.5 3.5 54.5 23.1 4.0
7.Net profit before tax (D5-D6) 39.6 -16.4 -52.2 -14.3 -44.1 -104.0
8.Tax provision 10.7 1.8 3.1 3.7 3.7 0.0
3.Finance from outside the company (E1-E2) 117.6 261.8 -45.8 -27.7 296.7 257.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 19.7 -7.5 54.7 39.4 -19.2 -67.7
7.Cash flow ratio F1 as % of F2 29.2 1.2 -4.6 -105.2 -4.2 -37.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 27.0 - -5.9 -25.9 -8.4 0.0
15.Return on Equity (D7 as % of A3) 15.8 -5.4 -25.8 -4.5 -14.0 -20.6
3.Net profit margin (D7 as % of D1) 7.2 -4.1 -8.5 -1.9 -6.0 -13.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 69.2 -141.4 218.3 -72.4 111.1 136.2
30
Baig Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 117.0 79.3 -56.1 -59.3 -64.9 -64.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.5 6.9 0.9 1.0 35.9 35.9
(i)Cash 5.5 6.9 0.9 1.0 35.9 35.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 123.1 166.7 79.5 0.0 0.0 0.0
7.Net Current Assets(B4-B5) -44.6 -79.9 -148.0 -130.5 24.4 24.4
9.Net liquid assets (B1-B5) -223.2 -277.6 -272.0 -131.8 22.9 22.9
C.Fixed Assets:
4.Total assets (B4+C2) 567.7 582.4 409.0 166.4 40.9 40.9
D.Operation:
1.Gross sales 683.9 489.6 616.8 84.4 0.0 0.0
(i)Local sales 683.9 489.6 616.8 84.4 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 653.1 449.1 592.7 91.1 0.0 0.0
3.Gross profit 30.8 40.5 24.1 -6.7 0.0 0.0
5.Operating profit 22.9 33.9 -101.0 37.0 132.5 132.5
7.Net profit before tax (D5-D6) 1.1 17.2 -131.7 25.0 132.3 132.3
8.Tax provision 3.1 2.3 3.4 0.4 0.0 0.0
2.Retention in business (D7-D8-D9) -2.0 14.9 -135.1 24.6 132.3 132.3
3.Finance from outside the company (E1-E2) 51.6 -55.9 -26.8 -127.1 -137.8 -132.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 20.5 29.7 -115.6 26.1 133.0 133.0
2.Depreciation for the year plus changes in capital employed (C3+E1) 72.1 -26.2 -142.4 -101.0 -4.8 0.7
5.Return on assets (D7 as % of C4) 0.2 3.0 -32.2 15.0 323.5 323.5
6.Self financing ratio (E2 as % of E1) -4.0 - 83.4 -24.0 -2405.5 0.0
7.Cash flow ratio F1 as % of F2 28.4 - 81.2 -25.8 -2770.8 19000.0
10.Financial expenses as % of operating profit (D6 as % of D5) 95.2 49.3 -30.4 32.4 0.2 0.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 281.8 13.4 -2.6 1.6 0.0 0.0
15.Return on Equity (D7 as % of A3) 0.5 10.1 -377.4 78.9 506.9 506.9
3.Net profit margin (D7 as % of D1) 0.2 3.5 -21.4 29.6 0.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) 0.1 1.9 -14.5 2.7 14.5 14.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.2 1.6 -14.8 2.7 14.5 14.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 0.0 1800.0 -863.2 -118.6 437.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 20.5 -28.4 26.0 -86.3 -100.0 -
31
Bhanero Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 578.8 671.2 707.2 823.4 959.6 1044.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.5 12.5 24.3 56.0 18.9 23.1
(i)Cash 6.2 12.2 23.9 55.6 18.5 22.7
(ii)Investments 0.3 0.3 0.4 0.4 0.4 0.4
3.Inventories 363.0 809.5 594.0 838.6 961.8 799.8
C.Fixed Assets:
4.Total assets (B4+C2) 1353.9 2390.8 3070.5 3410.2 3403.1 3134.1
D.Operation:
1.Gross sales 1751.6 1316.5 2692.9 3547.1 3510.4 3781.5
(i)Local sales 989.7 1316.5 2692.9 2369.1 1633.6 2773.4
(ii)Export sales 761.9 0.0 0.0 1178.0 1876.8 1008.1
2.Cost of Sales 1613.0 1109.1 2270.8 3070.5 3101.0 3285.3
3.Gross profit 138.6 207.4 422.1 476.6 409.4 496.2
8.Tax provision 14.7 6.3 20.9 17.7 18.1 16.4
3.Finance from outside the company (E1-E2) 116.4 577.7 283.0 -424.9 63.5 -272.6
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 209.5 711.2 591.1 -53.8 326.6 -18.4
6.Self financing ratio (E2 as % of E1) 18.5 12.4 33.9 -65.3 54.4 -39.5
7.Cash flow ratio F1 as % of F2 44.4 18.8 52.1 -689.8 80.6 -1381.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -58.9 82.9 69.0 7.1 -46.2 -0.3
32
Bilal Fibres Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -16.2 81.5 64.0 -37.5 54.1 -65.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.5 8.8 3.9 28.3 3.5 1.9
(i)Cash 6.5 8.8 3.9 28.3 3.5 1.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 77.0 68.9 112.0 114.7 168.2 140.0
C.Fixed Assets:
4.Total assets (B4+C2) 519.3 669.5 739.2 776.4 1018.3 959.9
D.Operation:
1.Gross sales 677.5 507.1 764.5 785.0 905.2 945.6
(i)Local sales 518.6 470.3 659.0 669.2 711.9 887.2
(ii)Export sales 158.9 36.8 105.5 115.8 193.3 58.4
2.Cost of Sales 646.0 467.5 717.6 785.3 865.9 934.8
3.Gross profit 31.5 39.6 46.9 -0.3 39.3 10.8
5.Operating profit 14.9 24.2 56.2 -27.5 -3.5 -25.4
8.Tax provision 3.1 2.3 4.1 4.3 36.5 0.6
3.Finance from outside the company (E1-E2) -106.3 157.8 -79.4 201.6 255.3 68.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 19.3 24.3 35.5 -52.0 -68.0 -58.9
2.Depreciation for the year plus changes in capital employed (C3+E1) -87.0 182.1 -43.9 149.6 187.3 9.8
6.Self financing ratio (E2 as % of E1) - 4.5 -18.5 -63.4 -61.7 387.4
7.Cash flow ratio F1 as % of F2 - 13.3 -80.9 -34.8 -36.3 -601.0
10.Financial expenses as % of operating profit (D6 as % of D5) 82.6 59.9 70.6 -168.7 -1640.0 -262.2
33
Blessed Textiles Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 342.3 427.4 558.7 639.3 777.2 852.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 26.9 49.2 14.1 40.8 33.9 27.7
(i)Cash 26.9 49.2 14.1 40.8 33.9 27.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 174.7 300.8 489.6 532.4 846.3 677.3
C.Fixed Assets:
4.Total assets (B4+C2) 1337.9 1765.5 2440.7 2564.8 2795.1 2457.0
D.Operation:
1.Gross sales 2250.9 1652.8 2948.0 2703.7 2994.3 3254.3
(i)Local sales 606.7 276.6 430.5 1457.2 1724.2 1345.2
(ii)Export sales 1644.2 1376.2 2517.5 1246.5 1270.1 1909.1
2.Cost of Sales 2089.4 1449.9 2531.2 2308.1 2628.6 2787.6
3.Gross profit 161.5 202.9 416.8 395.6 365.7 466.7
8.Tax provision 0.0 16.4 40.7 18.8 20.2 27.7
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -16.1 35.0 63.6 -26.8 -7.2 -13.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 66.1 -26.6 78.4 -8.3 10.7 8.7
34
Brothers Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 58.4 52.1 32.4 -60.8 -103.6 -133.5
3.Shareholder's Equity (A1+A2) 156.4 150.1 130.4 37.2 -5.6 -35.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.2 6.4 3.5 2.6 0.8 0.1
(i)Cash 4.2 6.4 3.5 2.6 0.8 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 70.2 75.9 81.2 44.9 0.0 0.0
7.Net Current Assets(B4-B5) -11.5 21.2 -8.4 -98.3 -110.2 -168.3
C.Fixed Assets:
4.Total assets (B4+C2) 587.2 570.6 557.5 508.2 421.4 410.3
D.Operation:
1.Gross sales 614.7 343.5 459.8 484.0 166.6 0.0
(i)Local sales 603.2 338.3 456.1 450.7 166.6 0.0
(ii)Export sales 11.5 5.2 3.7 33.3 0.0 0.0
2.Cost of Sales 620.6 326.9 458.2 502.6 176.2 0.0
3.Gross profit -5.9 16.6 1.6 -18.6 -9.6 0.0
5.Operating profit -19.5 6.5 -8.2 -36.5 -20.8 -19.8
8.Tax provision 2.7 1.7 3.2 2.4 0.8 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 38.9 18.6 -38.3 -103.9 -48.5 -66.9
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -97.4 -51.1 101.3 61.2 68.0 44.7
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 159.6 153.2 133.1 38.0 -5.7 -36.2
10.Financial expenses as % of operating profit (D6 as % of D5) - 220.0 -334.1 -67.7 -54.8 -51.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - -9.0 -3.9 -2.5 0.0
15.Return on Equity (D7 as % of A3) -22.5 -5.2 -27.3 -164.5 0.0 0.0
3.Net profit margin (D7 as % of D1) -5.7 -2.3 -7.7 -12.6 -19.3 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -2.7 -77.8 350.0 72.2 -46.8 -6.1
10.Break-up value of ordinary shares (in rupees) 16.0 15.3 13.3 3.8 -0.6 -3.6
35
Chakwal Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -160.8 -109.8 -198.5 -186.3 -185.4 -231.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 125.9 2.1 35.8 39.7 34.4 32.4
(i)Cash 125.9 2.1 35.8 39.7 34.4 32.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 213.3 155.6 120.8 150.8 206.3 210.4
C.Fixed Assets:
4.Total assets (B4+C2) 978.3 817.1 977.3 1085.7 1158.3 1132.8
D.Operation:
1.Gross sales 779.8 637.6 711.6 853.1 875.5 989.8
(i)Local sales 717.7 612.5 92.8 659.5 775.8 856.9
(ii)Export sales 62.1 25.1 618.8 193.6 99.7 132.9
2.Cost of Sales 758.3 594.1 683.1 783.3 809.1 950.3
3.Gross profit 21.5 43.5 28.5 69.8 66.4 39.5
7.Net profit before tax (D5-D6) -10.7 6.2 -21.0 5.8 -23.0 -47.4
8.Tax provision 3.4 2.8 3.5 48.3 4.4 2.1
3.Finance from outside the company (E1-E2) 43.5 -177.7 594.9 -295.7 125.5 -91.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -1.1 0.8 -2.1 0.5 -2.0 -4.2
6.Self financing ratio (E2 as % of E1) -48.0 - -4.3 12.6 -27.9 35.2
7.Cash flow ratio F1 as % of F2 29.8 - 2.1 -1.4 13.8 1.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 45.2 -16.7 832.8 -19.1 -4.4
15.Return on Equity (D7 as % of A3) - 177.1 -10.4 2.7 -10.7 -28.1
3.Net profit margin (D7 as % of D1) -1.4 1.0 -3.0 0.7 -2.6 -4.8
4.Earning per share before tax (D7/No. of ordinary shares) -0.9 0.5 -0.5 0.1 -0.6 -1.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -112.5 -155.6 -200.0 -120.0 -700.0 100.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -19.6 -18.2 11.6 19.9 2.6 13.1
36
Chenab Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -15.5 -14.1 -13.2 1970.0 1800.2 543.9
3.Shareholder's Equity (A1+A2) -8.5 -7.1 -6.2 3120.0 2950.2 1693.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -8.5 -7.1 -6.2 6272.8 6046.8 4914.4
B.Liquidity:
1.Liquid Assets: 0.0 0.3 2.9 65.2 59.9 63.4
(i)Cash 0.0 0.3 0.1 65.2 59.9 63.4
(ii)Investments 0.0 0.0 2.8 0.0 0.0 0.0
3.Inventories 0.7 0.0 0.0 3997.2 4442.6 4475.2
C.Fixed Assets:
4.Total assets (B4+C2) 34.2 34.0 33.9 14982.9 16287.1 16941.3
D.Operation:
1.Gross sales 0.0 0.0 0.0 8338.4 8675.3 9091.4
(i)Local sales 0.0 0.0 0.0 621.9 1100.9 997.7
(ii)Export sales 0.0 0.0 0.0 7716.5 7574.4 8093.7
2.Cost of Sales 0.0 0.0 0.0 6791.1 6996.0 7107.0
3.Gross profit 0.0 0.0 0.0 1547.3 1679.3 1984.4
7.Net profit before tax (D5-D6) -4.3 2.2 0.8 160.4 -15.3 -13.7
8.Tax provision 0.0 0.8 0.3 85.4 82.4 82.9
3.Finance from outside the company (E1-E2) -11.2 0.0 0.4 6278.0 -128.3 -1035.8
F.Cash Flow Data
1.Gearing ratio (A7 as % of A8) - - 0.0 50.3 51.2 65.5
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -121.4 -101.4 -88.6 271.3 256.5 147.3
9.Overhead and other expenses as % of gross sales (D4 as % D1) - - 0.0 88.1 87.3 83.8
11.Financial expense as % of gross sales (D6 as % of D1) - - 0.0 10.1 13.0 16.4
12.Financial expenses as % of contractual liabilities (D6 as % B8) - - 0.0 10.7 10.9 47.9
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 36.4 37.5 53.2 -538.6 -605.1
14.Sundry debtors as % of gross sales - - 0.0 0.0 28.0 34.4
15.Return on Equity (D7 as % of A3) - - 0.0 5.1 -0.5 -0.8
3.Net profit margin (D7 as % of D1) - - 0.0 1.9 -0.2 -0.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -16.2 -64.5 27.3 -107.1 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 - - - 4.0 4.8
10.Break-up value of ordinary shares (in rupees) -12.1 -10.1 -8.9 27.1 25.7 14.7
37
Colony Mills Ltd. (Colony Textile Mills Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 741.6 1077.3 301.4 707.3 464.6 233.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 113.2 215.2 819.1 8.9 819.3 1160.6
(i)Cash 90.7 65.4 4.4 4.4 32.1 26.6
(ii)Investments 22.5 149.8 814.7 4.5 787.2 1134.0
3.Inventories 989.6 1020.8 1298.8 1392.5 1960.3 3295.9
7.Net Current Assets(B4-B5) -260.6 16.7 38.7 34.9 18.0 -532.3
C.Fixed Assets:
4.Total assets (B4+C2) 4344.5 5321.1 7790.5 9128.9 12651.2 14268.8
D.Operation:
1.Gross sales 3641.0 3693.5 2063.3 5799.9 7020.7 7526.9
(i)Local sales 3244.6 2828.4 1318.7 3391.8 7020.7 4571.1
(ii)Export sales 396.4 865.1 744.6 2408.1 0.0 2955.8
2.Cost of Sales 3481.6 3323.4 1783.5 5061.7 6026.5 6636.0
3.Gross profit 159.4 370.1 279.8 738.2 994.2 890.9
8.Tax provision 19.2 24.5 14.4 29.0 35.9 29.4
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 3.4 17.8 6.1 49.5 -11.7 -76.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.6 6.3 0.4 1.8 1.3 -1.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 27.9 30.9 -93.1 280.0 -21.1 -166.7
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 39.9 1.4 -44.1 181.1 21.0 7.2
38
Crescent Fibers Ltd. (Crescent Boards Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
1.Ordinary Share Capital - - - 118.3 124.2 124.2
2.Surplus - - - 154.0 103.5 56.0
3.Shareholder's Equity (A1+A2) - - - 272.3 227.7 180.2
4.Prefrence Shares - - - 0.0 0.0 0.0
5.Debentures - - - 0.0 0.0 0.0
6.Other Fixed Liabilities - - - 108.2 67.6 30.2
7.Total Fixed Liabilities (A4+A5+A6) - - - 108.2 67.6 30.2
8.Total Capital Employed (A3+A7) - - - 380.5 295.3 210.4
B.Liquidity:
1.Liquid Assets: - - - 4.8 4.2 73.5
(i)Cash - - - 2.1 1.5 29.9
(ii)Investments - - - 2.7 2.7 43.6
2.Other Current Assets - - - 341.6 539.7 177.0
3.Inventories - - - 109.8 153.5 101.3
4.Current Assets (B1+B2+B3) - - - 456.2 697.4 351.8
5.Current Liabilities - - - 394.0 414.7 424.6
6.Total Liabilities(A7+B5) - - - 502.2 482.3 454.8
7.Net Current Assets(B4-B5) - - - 62.2 282.7 -72.8
8.Contractual Liabilities - - - 270.6 262.7 237.3
9.Net liquid assets (B1-B5) - - - -389.2 -410.5 -351.1
C.Fixed Assets:
1.Fixed Asset At Cost - - - 875.7 850.1 859.4
2.Fixed assets after deducting accumulated depreciation - - - 318.3 12.5 283.2
3.Depreciation for the year - - - 32.8 31.3 29.5
4.Total assets (B4+C2) - - - 774.5 709.9 635.0
D.Operation:
1.Gross sales - - - 1189.7 1246.8 1427.5
(i)Local sales - - - 1189.7 1241.8 1426.3
(ii)Export sales - - - 0.0 5.0 1.2
2.Cost of Sales - - - 1073.1 1160.2 1318.4
3.Gross profit - - - 116.6 86.6 109.1
4.Overhead and Other Expenses - - - 1122.1 1202.5 1369.1
5.Operating profit - - - 76.1 57.2 67.8
6.Financial expenses - - - 36.8 32.0 54.5
7.Net profit before tax (D5-D6) - - - 39.3 25.2 13.3
8.Tax provision - - - 5.9 6.2 0.9
9.Total amount of dividend - - - 0.0 62.1 0.0
10.Total value of bonus shares issued - - - 5.9 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - 380.5 -85.2 -84.9
2.Retention in business (D7-D8-D9) - - - 33.4 -43.1 12.4
3.Finance from outside the company (E1-E2) - - - 347.1 -42.1 -97.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - 66.2 -11.8 41.9
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - 413.3 -53.9 -55.4
1.Gearing ratio (A7 as % of A8) - - - 28.4 22.9 14.4
2.Current ratio (B4 as % of B5) - - - 115.8 168.2 82.9
3.Acid test or Quick ratio (B4-B3 as % B5) - - - 87.9 131.2 59.0
4.Debt equity ratio (B6 as % of A3) - - - 184.4 211.8 252.4
5.Return on assets (D7 as % of C4) - - - 5.1 3.5 2.1
6.Self financing ratio (E2 as % of E1) - - - 8.8 50.6 -14.6
7.Cash flow ratio F1 as % of F2 - - - 16.0 21.9 -75.6
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - 230.2 183.3 145.1
9.Overhead and other expenses as % of gross sales (D4 as % D1) - - - 94.3 96.4 95.9
10.Financial expenses as % of operating profit (D6 as % of D5) - - - 48.4 55.9 80.4
11.Financial expense as % of gross sales (D6 as % of D1) - - - 3.1 2.6 3.8
12.Financial expenses as % of contractual liabilities (D6 as % B8) - - - 13.6 12.2 23.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - 15.0 24.6 6.8
14.Sundry debtors as % of gross sales - - - 9.8 7.3 8.3
15.Return on Equity (D7 as % of A3) - - - 14.4 11.1 7.4
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - 0.0 30.6 0.0
2.Dividend ratio to equity (D9 as % of A3) - - - 0.0 27.3 0.0
3.Net profit margin (D7 as % of D1) - - - 3.3 2.0 0.9
4.Earning per share before tax (D7/No. of ordinary shares) - - - 3.3 2.0 1.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - 2.8 1.5 1.0
6.Average annual % depreciation on written down fixed assets - - - 10.1 26.5 9.8
7.Sales as % of total assets (D1 as % of C4) - - - 153.6 175.6 224.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - 230.0 -39.4 -45.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - 4.8 14.5
10.Break-up value of ordinary shares (in rupees) - - - 23.0 18.3 14.5
39
D.M. Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 307.1 369.5 250.1 551.9 527.8 460.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 28.1 19.0 4.0 1.7 4.1 2.4
(i)Cash 27.8 18.6 3.6 1.3 2.4 0.6
(ii)Investments 0.3 0.4 0.4 0.4 1.7 1.8
3.Inventories 94.1 65.5 176.2 156.0 96.3 91.0
C.Fixed Assets:
4.Total assets (B4+C2) 674.4 670.8 969.4 1271.3 1172.1 1134.7
D.Operation:
1.Gross sales 554.0 456.3 768.1 805.4 867.6 549.8
(i)Local sales 537.8 456.3 768.1 779.3 842.3 549.8
(ii)Export sales 16.2 0.0 0.0 26.1 25.3 0.0
2.Cost of Sales 513.4 413.1 675.9 731.5 801.4 558.4
3.Gross profit 40.6 43.2 92.2 73.9 66.2 -8.6
8.Tax provision 2.4 2.3 3.9 4.5 4.3 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 159.7 86.0 -50.8 276.8 49.4 -117.7
3.Finance from outside the company (E1-E2) 152.2 69.5 -80.7 304.7 70.9 -45.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 172.8 97.1 -33.8 276.8 78.0 -90.7
6.Self financing ratio (E2 as % of E1) 4.7 19.2 -58.9 -10.1 -43.5 61.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 24.2 11.4 11.5 -19.2 -25.0 0.0
1.Dividend cover ratio [(D7 - D8) as % of D9] - 1369.2 0.0 0.0 0.0 0.0
40
D.S. Industries Limited (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
1.Ordinary Share Capital - - - - - 600.0
2.Surplus - - - - - -756.2
3.Shareholder's Equity (A1+A2) - - - - - -156.2
4.Prefrence Shares - - - - - 0.0
5.Debentures - - - - - 0.0
6.Other Fixed Liabilities - - - - - 261.3
7.Total Fixed Liabilities (A4+A5+A6) - - - - - 261.3
8.Total Capital Employed (A3+A7) - - - - - 105.1
B.Liquidity:
1.Liquid Assets: - - - - - 129.8
(i)Cash - - - - - 2.5
(ii)Investments - - - - - 127.3
2.Other Current Assets - - - - - 33.6
3.Inventories - - - - - 23.2
4.Current Assets (B1+B2+B3) - - - - - 186.6
5.Current Liabilities - - - - - 733.1
6.Total Liabilities(A7+B5) - - - - - 994.4
7.Net Current Assets(B4-B5) - - - - - -546.5
8.Contractual Liabilities - - - - - 642.5
9.Net liquid assets (B1-B5) - - - - - -603.3
C.Fixed Assets:
1.Fixed Asset At Cost - - - - - 693.9
2.Fixed assets after deducting accumulated depreciation - - - - - 651.5
3.Depreciation for the year - - - - - 56.2
4.Total assets (B4+C2) - - - - - 838.1
D.Operation:
1.Gross sales - - - - - 653.7
(i)Local sales - - - - - 653.7
(ii)Export sales - - - - - 0.0
2.Cost of Sales - - - - - 652.9
3.Gross profit - - - - - 0.8
4.Overhead and Other Expenses - - - - - 1166.4
5.Operating profit - - - - - -857.8
6.Financial expenses - - - - - 130.2
7.Net profit before tax (D5-D6) - - - - - -988.0
8.Tax provision - - - - - 0.0
9.Total amount of dividend - - - - - 0.0
10.Total value of bonus shares issued - - - - - 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - - -
2.Retention in business (D7-D8-D9) - - - - - -988.0
3.Finance from outside the company (E1-E2) - - - - - -
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - - -931.8
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - - -
1.Gearing ratio (A7 as % of A8) - - - - - 248.6
2.Current ratio (B4 as % of B5) - - - - - 25.5
3.Acid test or Quick ratio (B4-B3 as % B5) - - - - - 22.3
4.Debt equity ratio (B6 as % of A3) - - - - - 0.0
5.Return on assets (D7 as % of C4) - - - - - -117.9
6.Self financing ratio (E2 as % of E1) - - - - - 0.0
7.Cash flow ratio F1 as % of F2 - - - - - 0.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - - - -26.0
9.Overhead and other expenses as % of gross sales (D4 as % D1) - - - - - 178.4
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - - -15.2
11.Financial expense as % of gross sales (D6 as % of D1) - - - - - 19.9
12.Financial expenses as % of contractual liabilities (D6 as % B8) - - - - - 20.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - - - 0.0
14.Sundry debtors as % of gross sales - - - - - 3.6
15.Return on Equity (D7 as % of A3) - - - - - 0.0
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - - - 0.0
2.Dividend ratio to equity (D9 as % of A3) - - - - - 0.0
3.Net profit margin (D7 as % of D1) - - - - - -151.1
4.Earning per share before tax (D7/No. of ordinary shares) - - - - - -16.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - - -16.5
6.Average annual % depreciation on written down fixed assets - - - - - 11.6
7.Sales as % of total assets (D1 as % of C4) - - - - - 78.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - - - -1750.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - - -
10.Break-up value of ordinary shares (in rupees) - - - - - -2.6
41
Dar Es Salaam Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -16.9 143.0 126.0 224.8 127.9 24.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 33.5 30.1 1.1 3.2 4.8 1.5
(i)Cash 33.5 30.1 1.1 3.2 4.8 1.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 160.1 136.9 129.3 115.5 188.0 53.4
C.Fixed Assets:
4.Total assets (B4+C2) 552.2 762.3 693.9 951.8 937.0 752.4
D.Operation:
1.Gross sales 653.7 475.6 698.4 779.2 730.7 850.1
(i)Local sales 232.3 182.1 411.4 410.4 454.3 707.2
(ii)Export sales 421.4 293.5 287.0 368.8 276.4 142.9
2.Cost of Sales 612.0 409.4 622.0 716.7 730.2 848.3
3.Gross profit 41.7 66.2 76.4 62.5 0.5 1.8
5.Operating profit 2.8 36.2 37.1 24.4 -37.9 -48.7
8.Tax provision 6.6 4.3 4.5 5.5 3.7 1.5
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -28.7 6.7 -67.9 -108.5 135.8 74.5
10.Financial expenses as % of operating profit (D6 as % of D5) 807.1 57.7 152.8 249.6 -176.5 -163.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 28.1 -23.0 -15.1 -3.5 -1.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 316.7 -176.0 -231.6 84.0 184.8 22.1
42
Data Textiles Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -94.1 -158.0 38.7 -28.1 -72.2 -78.6
3.Shareholder's Equity (A1+A2) 5.0 -58.9 137.8 71.0 26.9 20.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 77.8 -3.3 188.5 136.6 26.9 20.5
B.Liquidity:
1.Liquid Assets: 1.4 2.3 2.1 0.8 0.7 0.9
(i)Cash 1.4 2.3 2.1 0.8 0.7 0.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 128.3 169.6 70.7 47.4 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 314.7 352.8 474.7 406.2 180.1 173.6
D.Operation:
1.Gross sales 311.8 241.2 551.1 98.7 0.0 0.0
(i)Local sales 311.8 241.2 551.1 98.7 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 325.1 279.8 555.9 152.0 0.0 0.0
3.Gross profit -13.3 -38.6 -4.8 -53.3 0.0 0.0
8.Tax provision 1.4 1.2 2.7 0.5 39.4 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -63.4 -81.1 191.8 -51.9 -109.7 -6.4
3.Finance from outside the company (E1-E2) -28.8 -14.5 236.2 15.0 -58.1 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -28.1 -53.7 -10.9 -37.1 126.5 -1.3
2.Depreciation for the year plus changes in capital employed (C3+E1) -56.9 -68.2 225.3 -22.1 68.4 -1.3
4.Debt equity ratio (B6 as % of A3) 6196.0 - 244.4 472.3 569.5 747.3
7.Cash flow ratio F1 as % of F2 - - -4.8 167.9 184.9 100.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 5.0 -59.4 139.1 71.6 27.1 20.7
15.Return on Equity (D7 as % of A3) -664.0 - -30.3 -93.5 -45.4 -31.2
2.Dividend ratio to equity (D9 as % of A3) 0.0 - 0.0 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -1.8 -22.6 128.5 -82.1 -100.0 -
10.Break-up value of ordinary shares (in rupees) 0.5 -5.9 13.9 7.2 2.7 2.1
43
Dawood Lawrencepur Ltd. (Dawod Coton Mills) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 3176.5 3510.2 5786.1 5786.1 1115.9 971.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2411.7 2568.8 4772.7 4772.7 66.3 479.3
(i)Cash 102.2 57.7 34.4 34.4 62.0 79.2
(ii)Investments 2309.5 2511.1 4738.3 4738.3 4.3 400.1
3.Inventories 968.1 1013.3 827.5 827.5 196.1 209.1
9.Net liquid assets (B1-B5) 1607.1 1694.1 4061.4 4061.4 -142.0 295.0
C.Fixed Assets:
4.Total assets (B4+C2) 4454.0 4823.1 6928.9 6928.9 1791.1 1669.3
D.Operation:
1.Gross sales 1851.4 1376.7 1870.5 1870.5 368.3 350.4
(i)Local sales 1761.2 1238.8 1850.4 1850.4 368.3 350.4
(ii)Export sales 90.2 137.9 20.1 20.1 0.0 0.0
2.Cost of Sales 1705.6 1249.4 1770.2 1770.2 294.4 273.9
3.Gross profit 145.8 127.3 100.3 100.3 73.9 76.5
7.Net profit before tax (D5-D6) 162.8 499.8 -3.1 -3.1 134.7 -94.9
8.Tax provision 14.1 13.0 14.3 14.3 10.1 9.2
2.Retention in business (D7-D8-D9) 61.0 486.8 -17.4 -17.4 124.6 -104.1
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 2.8 162.8 -0.8 0.0 -2.7 106.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 8.7 2.6 -461.3 -461.3 7.5 -9.7
15.Return on Equity (D7 as % of A3) 4.6 12.9 -0.1 -0.1 8.5 -6.4
1.Dividend cover ratio [(D7 - D8) as % of D9] 169.6 - 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 8.8 36.3 -0.2 -0.2 36.6 -27.1
4.Earning per share before tax (D7/No. of ordinary shares) 4.6 14.2 -0.1 -0.1 2.9 -1.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 4.2 13.9 -0.5 -0.5 2.7 -2.0
44
Dewan Farooque Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
1.Ordinary Share Capital - - 600.0 600.0 600.0 600.0
2.Surplus - - 6.8 21.7 52.4 -224.3
3.Shareholder's Equity (A1+A2) - - 606.8 621.7 652.4 375.7
4.Prefrence Shares - - 0.0 0.0 0.0 0.0
5.Debentures - - 0.0 0.0 243.8 162.5
6.Other Fixed Liabilities - - 495.9 351.2 442.2 224.2
7.Total Fixed Liabilities (A4+A5+A6) - - 495.9 351.2 686.0 386.7
8.Total Capital Employed (A3+A7) - - 1102.7 972.9 1338.4 762.4
B.Liquidity:
1.Liquid Assets: - - 5.7 1.8 10.0 6.5
(i)Cash - - 5.7 1.8 2.0 6.5
(ii)Investments - - 0.0 0.0 8.0 0.0
2.Other Current Assets - - 160.1 256.8 217.5 225.6
3.Inventories - - 263.0 272.1 325.3 359.0
4.Current Assets (B1+B2+B3) - - 428.8 530.7 552.8 591.1
5.Current Liabilities - - 751.2 890.3 488.4 1031.1
6.Total Liabilities(A7+B5) - - 1247.1 1241.5 1174.4 1417.8
7.Net Current Assets(B4-B5) - - -322.4 -359.6 64.4 -440.0
8.Contractual Liabilities - - 592.0 550.2 975.6 760.6
9.Net liquid assets (B1-B5) - - -745.5 -888.5 -478.4 -1024.6
C.Fixed Assets:
1.Fixed Asset At Cost - - 1390.4 1390.4 1589.7 1638.9
2.Fixed assets after deducting accumulated depreciation - - 1425.0 1332.6 1273.8 1202.4
3.Depreciation for the year - - 59.7 140.1 126.4 120.7
4.Total assets (B4+C2) - - 1853.8 1863.3 1826.6 1793.5
D.Operation:
1.Gross sales - - 306.8 881.0 1015.8 920.4
(i)Local sales - - 73.9 388.3 383.8 522.1
(ii)Export sales - - 232.9 492.7 632.0 398.3
2.Cost of Sales - - 244.9 745.2 894.8 974.8
3.Gross profit - - 61.9 135.8 121.0 -54.4
4.Overhead and Other Expenses - - 248.0 756.6 946.2 1016.3
5.Operating profit - - 58.8 124.4 69.6 -89.4
6.Financial expenses - - 45.0 118.1 108.0 127.6
7.Net profit before tax (D5-D6) - - 13.8 6.3 -38.4 -217.0
8.Tax provision - - 3.4 7.1 96.6 4.0
9.Total amount of dividend - - 0.0 0.0 0.0 0.0
10.Total value of bonus shares issued - - 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - -129.8 365.5 -576.0
2.Retention in business (D7-D8-D9) - - 10.4 -0.8 -135.0 -221.0
3.Finance from outside the company (E1-E2) - - - -129.0 500.5 -355.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - 70.1 139.3 -8.6 -100.3
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - 10.3 491.9 -455.3
2.Current ratio (B4 as % of B5) - - 57.1 59.6 113.2 57.3
3.Acid test or Quick ratio (B4-B3 as % B5) - - 22.1 29.0 46.6 22.5
5.Return on assets (D7 as % of C4) - - 0.7 0.3 -2.1 -12.1
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - 101.1 103.6 108.7 62.6
10.Financial expenses as % of operating profit (D6 as % of D5) - - 76.5 94.9 155.2 -142.7
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 24.6 112.7 -251.6 -1.8
3.Net profit margin (D7 as % of D1) - - 4.5 0.7 -3.8 -23.6
4.Earning per share before tax (D7/No. of ordinary shares) - - 0.2 0.1 -0.6 -3.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - 0.2 0.0 -2.3 -3.7
6.Average annual % depreciation on written down fixed assets - - 5.0 9.8 9.5 9.5
7.Sales as % of total assets (D1 as % of C4) - - 16.5 47.3 55.6 51.3
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -80.0 -50.0 -700.0 500.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - 187.2 15.3 -9.4
10.Break-up value of ordinary shares (in rupees) - - 10.1 10.4 10.9 6.3
45
Dewan Khalid Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 264.9 264.2 241.6 513.1 232.7 -99.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 72.2 68.7 68.4 342.6 170.0 50.1
(i)Cash 7.2 3.7 3.4 2.0 10.2 2.3
(ii)Investments 65.0 65.0 65.0 340.6 159.8 47.8
3.Inventories 432.3 545.3 583.1 657.2 366.2 316.8
7.Net Current Assets(B4-B5) 152.2 98.9 29.3 293.1 51.6 -326.4
C.Fixed Assets:
4.Total assets (B4+C2) 937.9 1067.6 1123.8 1445.8 1039.2 917.3
D.Operation:
1.Gross sales 881.8 374.1 811.8 565.6 1205.9 652.2
(i)Local sales 881.8 365.3 720.7 534.4 1200.3 652.2
(ii)Export sales 0.0 8.8 91.1 31.2 5.6 0.0
2.Cost of Sales 811.5 322.8 707.2 466.2 1173.2 660.7
3.Gross profit 70.3 51.3 104.6 99.4 32.7 -8.5
8.Tax provision 8.1 4.8 5.8 2.8 6.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 67.3 -17.8 -46.4 260.6 -248.2 -384.5
3.Finance from outside the company (E1-E2) 46.9 -25.7 -49.4 257.8 -168.7 -276.4
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 87.4 -3.8 -26.4 279.6 -229.5 -357.7
6.Self financing ratio (E2 as % of E1) 30.3 - -6.5 1.1 32.0 28.1
7.Cash flow ratio F1 as % of F2 46.3 - -87.1 7.8 26.5 22.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 63.4 -59.7 0.0 -63.0 -1390.0 47.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 39.7 -57.6 117.0 -30.3 113.2 -45.9
46
Dewan Mushtaq Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 165.9 174.5 131.0 307.8 188.4 55.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 43.6 43.7 48.4 221.1 126.1 35.4
(i)Cash 3.6 3.7 8.4 11.5 27.8 6.0
(ii)Investments 40.0 40.0 40.0 209.6 98.3 29.4
3.Inventories 650.9 713.1 635.1 571.1 257.2 112.1
C.Fixed Assets:
4.Total assets (B4+C2) 1279.0 1320.0 1253.2 1380.9 896.1 723.9
D.Operation:
1.Gross sales 1117.5 650.4 1066.8 1137.0 1526.8 1033.7
(i)Local sales 816.9 635.4 987.5 1046.3 1446.4 1011.2
(ii)Export sales 300.6 15.0 79.3 90.7 80.4 22.5
2.Cost of Sales 1030.5 595.0 971.2 1043.4 1510.8 997.0
3.Gross profit 87.0 55.4 95.6 93.6 16.0 36.7
8.Tax provision 5.8 3.1 6.7 10.7 7.9 0.3
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -3.5 -3.0 -61.4 218.4 -83.5 89.5
6.Self financing ratio (E2 as % of E1) - - -12.9 2.8 34.8 -144.0
7.Cash flow ratio F1 as % of F2 - - -88.1 20.0 6.7 -48.6
47
Dewan Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 678.8 715.1 1623.3 1613.4 815.6 -193.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 216.8 213.3 1169.4 1114.5 528.7 6.6
(i)Cash 6.8 3.3 1.4 14.3 12.5 6.6
(ii)Investments 210.0 210.0 1168.0 1100.2 516.2 0.0
3.Inventories 1694.6 1584.6 1456.9 1507.9 1714.9 1284.8
C.Fixed Assets:
4.Total assets (B4+C2) 3748.7 3424.2 4332.3 4348.5 4317.1 3900.5
D.Operation:
1.Gross sales 2860.0 2007.3 2320.8 2576.1 3232.7 3113.8
(i)Local sales 1895.1 1428.6 2320.8 1595.1 1815.3 3113.8
(ii)Export sales 964.9 578.7 0.0 981.0 1417.4 0.0
2.Cost of Sales 2614.1 1792.4 1973.8 2201.6 3055.4 3339.2
3.Gross profit 245.9 214.9 347.0 374.5 177.3 -225.4
8.Tax provision 2.0 13.3 14.4 13.2 18.0 17.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -118.7 51.1 849.1 -51.1 -192.3 -971.5
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -23.9 120.3 941.1 49.9 -83.0 -860.2
6.Self financing ratio (E2 as % of E1) - 31.3 3.4 -26.0 120.0 69.6
7.Cash flow ratio F1 as % of F2 - 70.8 12.8 229.1 146.3 65.7
48
Din Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 664.8 721.4 539.6 705.9 887.7 917.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 61.7 18.8 25.9 8.6 23.6 14.4
(i)Cash 61.7 18.8 25.9 8.6 23.6 14.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 434.5 735.6 538.3 644.7 559.3 515.3
C.Fixed Assets:
4.Total assets (B4+C2) 1827.4 3238.2 3047.9 3162.1 3128.8 3167.0
D.Operation:
1.Gross sales 1815.0 1443.0 2510.9 2772.4 3101.1 3712.4
(i)Local sales 649.5 1200.2 2504.5 1295.1 1504.1 2297.1
(ii)Export sales 1165.5 242.8 6.4 1477.3 1597.0 1415.3
2.Cost of Sales 1683.4 1323.9 2277.3 2479.0 2765.9 3324.9
3.Gross profit 131.6 119.1 233.6 293.4 335.2 387.5
8.Tax provision 14.6 6.5 2.0 20.3 15.8 12.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 120.5 1167.6 -766.6 4.1 -57.5 285.4
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 48.5 8.6 -44.6 130.8 222.1 55.0
49
Elahi Cotton Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -89.4 -48.3 -55.5 -59.6 -45.7 -49.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -29.7 -16.4 -38.7 -46.6 -28.2 -36.9
B.Liquidity:
1.Liquid Assets: 0.0 0.2 0.6 1.1 0.6 0.6
(i)Cash 0.0 0.2 0.6 1.1 0.6 0.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 2.8 4.2 3.3 4.7 4.2
C.Fixed Assets:
4.Total assets (B4+C2) 55.3 54.4 54.3 52.0 50.5 48.6
D.Operation:
1.Gross sales 2.1 9.8 71.1 109.7 148.2 139.7
(i)Local sales 2.1 9.8 71.1 109.7 148.2 139.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 5.2 11.7 72.5 111.3 150.5 143.2
3.Gross profit -3.1 -1.9 -1.4 -1.6 -2.3 -3.5
5.Operating profit -3.6 42.9 -0.7 -2.2 15.4 -3.9
7.Net profit before tax (D5-D6) -6.0 41.1 -3.1 -4.6 15.2 -4.7
8.Tax provision 0.0 0.1 0.4 0.6 0.7 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -16.5 13.3 -22.3 -7.9 18.4 -8.7
2.Retention in business (D7-D8-D9) -6.0 41.0 -3.5 -5.2 14.5 -4.7
3.Finance from outside the company (E1-E2) -10.5 -27.7 -18.8 -2.7 3.9 -4.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -3.1 42.9 -1.2 -3.1 16.4 -3.0
2.Depreciation for the year plus changes in capital employed (C3+E1) -13.6 15.2 -20.0 -5.8 20.3 -7.0
5.Return on assets (D7 as % of C4) -10.8 75.6 -5.7 -8.8 30.1 -9.7
10.Financial expenses as % of operating profit (D6 as % of D5) - 4.2 -342.9 -109.1 1.3 -20.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 0.2 -12.9 -13.0 4.6 0.0
3.Net profit margin (D7 as % of D1) -285.7 419.4 -4.4 -4.2 10.3 -3.4
4.Earning per share before tax (D7/No. of ordinary shares) -4.6 31.6 -2.4 -3.5 11.7 -3.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -4.6 31.5 -2.7 -4.0 11.2 -3.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -9.8 -787.0 -107.6 45.8 -434.3 -130.8
50
Ellcot Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 221.1 282.0 284.1 331.6 374.8 359.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 56.3 49.2 73.4 114.3 53.6 16.3
(i)Cash 6.3 49.2 73.4 114.3 53.6 16.3
(ii)Investments 50.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 308.0 281.5 249.5 304.5 565.5 583.0
7.Net Current Assets(B4-B5) -8.3 21.9 -45.3 50.8 -1.4 -28.2
C.Fixed Assets:
4.Total assets (B4+C2) 1279.9 1363.5 1318.7 1688.9 1806.5 1825.6
D.Operation:
1.Gross sales 1200.4 1003.0 1489.2 1608.3 1841.5 2427.5
(i)Local sales 1038.3 868.7 1489.2 1082.3 1226.0 1907.1
(ii)Export sales 162.1 134.3 0.0 526.0 615.5 520.4
2.Cost of Sales 1060.7 867.3 1291.8 1412.1 1574.0 2167.9
3.Gross profit 139.7 135.7 197.4 196.2 267.5 259.6
8.Tax provision 5.3 4.5 7.5 8.0 9.2 6.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 314.1 131.2 -63.7 182.0 -70.8 -79.4
3.Finance from outside the company (E1-E2) 222.2 92.2 -114.6 125.3 -145.9 -70.1
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] - 278.1 410.4 0.0 0.0 -13.4
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 85.4 -32.6 13.3 -13.2 30.5 -93.5
51
Faisal Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 502.9 619.0 748.1 927.9 957.2 1024.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 39.4 27.7 140.8 154.3 167.4 166.3
(i)Cash 27.5 15.8 29.5 24.2 26.6 13.3
(ii)Investments 11.9 11.9 111.3 130.1 140.8 153.0
3.Inventories 316.8 698.4 588.1 685.8 877.9 823.0
7.Net Current Assets(B4-B5) -108.0 -257.2 143.1 -66.0 12.8 43.3
C.Fixed Assets:
4.Total assets (B4+C2) 2275.6 2819.9 2642.4 2969.9 3041.8 2831.0
D.Operation:
1.Gross sales 3018.7 2457.8 3236.5 3396.5 3725.5 4271.9
(i)Local sales 517.5 514.0 560.1 1523.0 1722.9 1587.3
(ii)Export sales 2501.2 1943.8 2676.4 1873.5 2002.6 2684.6
2.Cost of Sales 2810.9 2154.6 2843.2 3040.3 3353.5 3826.7
3.Gross profit 207.8 303.2 393.3 356.2 372.0 445.2
8.Tax provision 33.0 26.3 43.8 25.6 27.8 29.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 398.9 -23.1 355.5 -155.8 -42.7 -111.4
3.Finance from outside the company (E1-E2) 366.2 -131.0 274.2 -243.2 -121.5 -168.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 8.2 - 22.9 -56.1 -184.5 -51.1
52
Fateh Sports Wear Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -22.5 -44.2 -61.0 -85.0 -82.5 -59.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 21.4 30.2 18.0 14.8 6.0 6.0
C.Fixed Assets:
4.Total assets (B4+C2) 285.0 274.5 271.1 264.1 279.3 321.4
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
5.Operating profit 1.8 -8.4 -3.6 -7.4 14.8 41.8
7.Net profit before tax (D5-D6) -11.3 -21.6 -16.8 -23.9 2.5 23.4
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -11.4 -21.7 -16.8 -24.0 2.5 23.5
2.Retention in business (D7-D8-D9) -11.3 -21.6 -16.8 -23.9 2.5 23.4
3.Finance from outside the company (E1-E2) -0.1 -0.1 0.0 -0.1 0.0 0.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -8.1 -18.8 -14.7 -22.0 4.2 24.9
2.Depreciation for the year plus changes in capital employed (C3+E1) -8.2 -18.9 -14.7 -22.1 4.2 25.0
5.Return on assets (D7 as % of C4) -4.0 -7.9 -6.2 -9.0 0.9 7.3
7.Cash flow ratio F1 as % of F2 - - 100.0 99.5 100.0 99.6
10.Financial expenses as % of operating profit (D6 as % of D5) 727.8 - -366.7 -223.0 83.1 44.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) - - 0.0 0.0 0.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) -5.7 -10.8 -8.4 -12.0 1.3 11.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -5.7 -10.8 -8.4 -12.0 1.3 11.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 470.0 89.5 -22.2 42.9 -110.8 800.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -100.0 - - - - -
53
Fateh Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1613.9 1737.7 2800.0 2769.1 2699.2 2670.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 582.8 548.5 567.1 585.0 538.6 535.4
(i)Cash 59.1 24.8 40.6 56.9 12.6 11.0
(ii)Investments 523.7 523.7 526.5 528.1 526.0 524.4
3.Inventories 2267.8 2492.3 2114.2 2267.6 2125.6 1761.6
C.Fixed Assets:
4.Total assets (B4+C2) 6883.3 6834.8 7730.6 7920.8 8893.6 9619.6
D.Operation:
1.Gross sales 7631.2 5919.7 6730.7 6343.5 4794.2 3051.0
(i)Local sales 7631.2 5919.7 6730.7 6343.5 850.4 3051.0
(ii)Export sales 0.0 0.0 0.0 0.0 3943.8 0.0
2.Cost of Sales 6720.7 5285.0 6063.8 5799.3 4350.4 2971.8
3.Gross profit 910.5 634.7 666.9 544.2 443.8 79.2
8.Tax provision 38.0 32.0 38.0 51.0 29.5 5.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 313.1 47.7 1127.7 -145.6 -118.4 -181.4
6.Self financing ratio (E2 as % of E1) 84.5 - 8.9 -20.2 0.6 -12.3
7.Cash flow ratio F1 as % of F2 89.1 363.3 17.4 -107.4 -79.1 -65.0
54
Fatima Enterprises Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 285.4 741.0 611.2 618.3 856.9 1686.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 28.2 131.5 190.1 155.3 155.6 231.5
(i)Cash 24.7 72.9 131.5 97.1 154.8 173.0
(ii)Investments 3.5 58.6 58.6 58.2 0.8 58.5
3.Inventories 841.6 1387.1 1421.7 2104.9 3562.3 3293.7
C.Fixed Assets:
4.Total assets (B4+C2) 2710.3 3660.8 5158.4 6476.7 8503.4 9100.7
D.Operation:
1.Gross sales 5372.4 3833.0 5347.7 6782.4 9736.4 7654.5
(i)Local sales 4118.6 2598.9 3765.7 5407.6 8167.3 5868.8
(ii)Export sales 1253.8 1234.1 1582.0 1374.8 1569.1 1785.7
2.Cost of Sales 5065.9 3568.5 5090.6 6306.6 8999.8 6735.4
3.Gross profit 306.5 264.5 257.1 475.8 736.6 919.1
8.Tax provision 47.0 43.6 37.7 20.0 49.1 46.5
2.Retention in business (D7-D8-D9) 95.1 50.7 -72.9 7.0 59.5 455.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 88.3 12.8 -15.8 2.7 19.6 51.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 6.7 3.6 -5.1 0.5 4.7 32.0
55
Fawad Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 59.5 77.4 408.0 266.3 412.1 412.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 3.1 0.7 3.0 0.8 0.8
(i)Cash 1.4 3.1 0.7 3.0 0.8 0.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 67.8 63.9 174.5 143.0 566.6 566.6
7.Net Current Assets(B4-B5) 15.8 -15.5 -48.1 -208.9 83.7 83.7
C.Fixed Assets:
4.Total assets (B4+C2) 384.0 401.5 913.7 939.4 1360.6 1360.6
D.Operation:
1.Gross sales 621.9 438.2 571.0 597.3 579.3 579.3
(i)Local sales 456.9 252.9 571.0 416.0 579.3 579.3
(ii)Export sales 165.0 185.3 0.0 181.3 0.0 0.0
2.Cost of Sales 593.9 407.4 523.1 535.0 505.0 505.0
3.Gross profit 28.0 30.8 47.9 62.3 74.3 74.3
8.Tax provision 2.8 2.1 4.6 4.8 2.9 2.9
F.Cash Flow Data
56
Fazal Cloth Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 642.7 804.5 935.1 842.9 3443.5 3540.9
5.Debentures 37.5 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.6 175.8 580.3 546.7 837.4 545.3
(i)Cash 9.6 175.8 327.3 293.7 369.5 77.4
(ii)Investments 0.0 0.0 253.0 253.0 467.9 467.9
3.Inventories 1044.0 1187.3 1402.4 1345.3 2012.3 2222.1
7.Net Current Assets(B4-B5) -146.7 3.3 176.8 -4042.1 632.6 -59.8
C.Fixed Assets:
4.Total assets (B4+C2) 3467.0 4341.5 5143.9 8345.3 9710.6 9792.2
D.Operation:
1.Gross sales 4170.1 3654.0 5238.2 6074.0 7113.9 8651.3
(i)Local sales 2239.0 1675.7 2459.4 2956.9 4003.8 4953.4
(ii)Export sales 1931.1 1978.3 2778.8 3117.1 3110.1 3697.9
2.Cost of Sales 3732.3 3077.3 4512.0 5256.7 6170.2 7455.2
3.Gross profit 437.8 576.7 726.2 817.3 943.7 1196.1
8.Tax provision 24.8 24.7 41.7 46.8 35.4 37.7
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 16.8 2.7 -26.0 -11.7 84.7 -47.0
57
Fazal Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 621.5 741.3 684.0 648.0 658.1 674.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.3 3.5 2.0 1.5 14.6 3.6
(i)Cash 9.3 3.5 2.0 1.5 14.6 3.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 264.0 728.0 484.3 330.0 601.3 501.1
7.Net Current Assets(B4-B5) 80.4 133.2 93.5 -31.8 135.6 -269.8
C.Fixed Assets:
4.Total assets (B4+C2) 1387.0 1699.3 1868.8 1824.4 3328.8 2884.7
D.Operation:
1.Gross sales 2501.2 1803.3 2129.9 2381.2 2582.3 2819.0
(i)Local sales 936.0 802.0 801.8 575.4 672.1 1076.1
(ii)Export sales 1565.2 1001.3 1328.1 1805.8 1910.2 1742.9
2.Cost of Sales 2409.4 1641.0 1954.3 2260.0 2442.5 2598.7
3.Gross profit 91.8 162.3 175.6 121.2 139.8 220.3
8.Tax provision 17.9 20.2 24.5 28.9 20.8 29.3
2.Retention in business (D7-D8-D9) -5.5 48.7 11.4 -27.6 6.4 9.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 40.7 -19.9 76.7 0.6 -15.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.6 9.4 4.3 -4.5 1.0 3.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -79.2 260.0 -34.1 -97.6 2100.0 77.3
58
Gadoon Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1993.2 2087.6 2127.4 2301.8 2079.9 1739.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 206.0 276.1 75.6 110.7 254.9 185.6
(i)Cash 206.0 276.1 75.6 95.5 171.6 118.9
(ii)Investments 0.0 0.0 0.0 15.2 83.3 66.7
3.Inventories 738.6 1957.2 1878.1 1246.9 2527.6 1951.2
7.Net Current Assets(B4-B5) -42.7 13.9 -284.0 -360.9 -439.2 111.3
C.Fixed Assets:
4.Total assets (B4+C2) 4595.4 5765.9 6144.7 5853.6 7542.9 6043.8
D.Operation:
1.Gross sales 7528.0 4455.1 5718.6 5205.8 6857.9 7140.8
(i)Local sales 3899.0 1718.4 3099.4 1611.7 1717.1 2968.6
(ii)Export sales 3629.0 2736.7 2619.2 3594.1 5140.8 4172.2
2.Cost of Sales 5513.5 3913.3 4918.7 4456.0 6112.3 6383.9
3.Gross profit 2014.5 541.8 799.9 749.8 745.6 756.9
8.Tax provision 50.1 38.8 77.6 82.0 0.0 39.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -18.5 164.4 -335.2 -150.0 37.8 247.4
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 110.7 -67.7 -158.9 -505.6 -135.9
7.Cash flow ratio F1 as % of F2 683.8 104.3 -3369.8 347.0 33.7 -5.9
1.Dividend cover ratio [(D7 - D8) as % of D9] 2912.8 410.6 487.2 0.0 -226.1 0.0
59
Ghazi Fabrics International Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 403.1 334.8 270.1 -24.1 -208.4 -362.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.0 14.9 4.6 3.9 0.3 3.5
(i)Cash 6.0 14.9 4.6 3.9 0.3 3.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 299.4 205.1 371.2 359.7 582.3 733.5
C.Fixed Assets:
4.Total assets (B4+C2) 2062.7 2066.9 2340.3 2303.0 2443.7 2543.5
D.Operation:
1.Gross sales 2079.5 1689.2 2397.8 2715.2 2923.6 3062.0
(i)Local sales 1247.0 775.1 1273.2 1484.2 1778.8 1896.4
(ii)Export sales 832.5 914.1 1124.6 1231.0 1144.8 1165.6
2.Cost of Sales 2022.8 1635.6 2211.4 2666.2 2857.8 2888.2
3.Gross profit 56.7 53.6 186.4 49.0 65.8 173.8
5.Operating profit -60.4 -69.6 129.1 -63.6 -55.2 31.1
7.Net profit before tax (D5-D6) -84.5 -114.3 28.9 -178.4 -161.7 -130.5
8.Tax provision 10.4 9.9 15.1 14.8 14.6 15.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 89.2 108.3 161.0 -601.7 -322.1 -99.4
2.Retention in business (D7-D8-D9) -94.9 -124.2 10.6 -193.2 -176.3 -145.9
3.Finance from outside the company (E1-E2) 184.1 232.5 150.4 -408.5 -145.8 46.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 30.7 -5.6 163.5 -26.1 -19.6 3.1
2.Depreciation for the year plus changes in capital employed (C3+E1) 214.8 226.9 313.9 -434.6 -165.4 49.6
5.Return on assets (D7 as % of C4) -4.1 -5.5 1.2 -7.7 -6.6 -5.1
7.Cash flow ratio F1 as % of F2 14.3 -2.5 52.1 6.0 11.9 6.3
10.Financial expenses as % of operating profit (D6 as % of D5) - - 77.6 -180.5 -192.9 519.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 52.2 -8.3 -9.0 -11.8
15.Return on Equity (D7 as % of A3) -11.6 -17.3 4.8 -59.0 -137.0 0.0
3.Net profit margin (D7 as % of D1) -4.1 -6.8 1.2 -6.6 -5.5 -4.3
4.Earning per share before tax (D7/No. of ordinary shares) -2.6 -3.5 0.9 -5.5 -5.0 -4.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -2.9 -3.8 0.4 -5.9 -5.4 -4.5
60
Glamour Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 29.0 140.3 110.3 59.4 93.6 70.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.8 9.8 3.9 2.7 2.1 1.7
(i)Cash 2.8 9.8 3.9 2.7 2.1 1.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 52.0 172.5 97.2 96.4 176.0 111.4
C.Fixed Assets:
4.Total assets (B4+C2) 594.1 720.0 709.9 748.8 884.1 791.7
D.Operation:
1.Gross sales 659.3 450.2 713.6 766.6 731.1 868.2
(i)Local sales 602.7 318.5 401.2 382.0 663.5 812.3
(ii)Export sales 56.6 131.7 312.4 384.6 67.6 55.9
2.Cost of Sales 729.0 422.6 681.4 750.0 689.7 815.9
3.Gross profit -69.7 27.6 32.2 16.6 41.4 52.3
5.Operating profit -75.6 12.6 4.6 -15.8 23.2 35.1
8.Tax provision 2.6 2.1 4.7 5.8 3.7 0.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 194.1 -87.7 -13.3 -82.5 281.9 -306.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -57.0 26.1 6.1 -12.1 16.1 14.2
6.Self financing ratio (E2 as % of E1) -50.0 - 221.1 61.7 -8.3 7.6
7.Cash flow ratio F1 as % of F2 -24.3 - 27.5 27.7 5.0 -5.3
10.Financial expenses as % of operating profit (D6 as % of D5) - 101.6 637.0 -185.4 184.9 165.5
15.Return on Equity (D7 as % of A3) -65.0 -0.1 -10.9 -25.7 -9.4 -12.3
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 84.1 -100.0 0.0 85.7 -56.4 17.6
61
Globe Textile Mills (OE) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 32.8 51.6 23.6 23.6 23.6 -35.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 1.3 1.3 1.3 1.3 0.2
(i)Cash 1.4 1.3 1.3 1.3 1.3 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 132.7 138.7 186.5 186.5 186.5 15.3
C.Fixed Assets:
4.Total assets (B4+C2) 419.6 472.9 546.7 546.7 546.7 313.9
D.Operation:
1.Gross sales 560.3 454.2 215.9 215.9 215.9 206.9
(i)Local sales 560.3 454.2 215.9 215.9 215.9 206.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 523.8 424.1 214.6 214.6 214.6 183.2
3.Gross profit 36.5 30.1 1.3 1.3 1.3 23.7
7.Net profit before tax (D5-D6) 4.8 7.5 -23.9 -23.9 -23.9 0.8
8.Tax provision 2.4 2.0 1.1 1.1 1.1 0.0
2.Retention in business (D7-D8-D9) 2.4 5.5 -25.0 -25.0 -25.0 0.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 10.9 18.8 -8.6 -8.6 -8.6 19.4
5.Return on assets (D7 as % of C4) 1.1 1.6 -4.4 -4.4 -4.4 0.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 50.0 26.7 -4.6 -4.6 -4.6 0.0
15.Return on Equity (D7 as % of A3) 6.2 7.8 -34.0 -34.0 -34.0 7.3
3.Net profit margin (D7 as % of D1) 0.9 1.7 -11.1 -11.1 -11.1 0.4
4.Earning per share before tax (D7/No. of ordinary shares) 1.1 1.7 -5.1 -5.1 -5.1 0.2
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.5 1.2 -5.4 -5.4 -5.4 0.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 266.7 54.5 -400.0 0.0 0.0 -103.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 33.3 -18.9 -52.5 0.0 0.0 -4.2
62
Globe Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 100.8 482.7 -77.8 -180.3 -204.4 329.2
3.Shareholder's Equity (A1+A2) 256.7 638.6 85.9 -16.6 -40.7 492.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.4 2.8 0.4 1.8 0.0 6.3
(i)Cash 2.4 2.8 0.4 1.8 0.0 6.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 641.0 829.4 246.8 0.0 0.0 0.0
7.Net Current Assets(B4-B5) -98.5 87.6 -389.8 -199.9 -183.8 263.2
9.Net liquid assets (B1-B5) -1261.6 -1076.5 -927.3 -341.5 -320.4 5.8
C.Fixed Assets:
4.Total assets (B4+C2) 1719.8 2085.4 1421.9 860.7 740.1 493.3
D.Operation:
1.Gross sales 1390.0 837.7 499.5 219.7 0.0 0.0
(i)Local sales 929.6 498.7 346.3 219.7 0.0 0.0
(ii)Export sales 460.4 339.0 153.2 0.0 0.0 0.0
2.Cost of Sales 1241.5 749.5 590.1 301.3 43.2 69.4
3.Gross profit 148.5 88.2 -90.6 -81.6 -43.2 -69.4
5.Operating profit 102.9 60.4 -455.7 -69.1 -9.9 533.6
8.Tax provision 6.3 3.9 2.5 1.1 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -157.7 550.2 -511.8 23.1 -97.6 73.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 71.3 47.4 -497.0 -6.7 8.9 559.3
2.Depreciation for the year plus changes in capital employed (C3+E1) -102.8 595.5 -456.1 118.9 -64.6 98.8
7.Cash flow ratio F1 as % of F2 - 8.0 109.0 -5.6 -13.8 566.1
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 164.7 409.6 52.5 -10.1 -24.9 301.1
10.Financial expenses as % of operating profit (D6 as % of D5) 77.9 90.1 -20.7 -46.7 -143.4 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 27.8 65.0 -0.5 -1.1 0.0 0.0
3.Net profit margin (D7 as % of D1) 1.6 0.7 -110.2 -46.2 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 114.3 -73.3 -8500.0 -81.5 -75.8 -2273.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 17.9 -39.7 -40.4 -56.0 -100.0 -
10.Break-up value of ordinary shares (in rupees) 16.5 41.0 5.2 -1.0 -2.5 30.1
63
Gul Ahmed Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1962.8 1953.7 1886.2 2076.8 2181.8 2454.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 704.2 725.4 524.5 86.3 127.5 158.2
(i)Cash 99.0 115.5 39.9 27.8 69.0 99.7
(ii)Investments 605.2 609.9 484.6 58.5 58.5 58.5
3.Inventories 2043.9 2747.0 2887.2 2254.1 2915.6 3886.2
C.Fixed Assets:
4.Total assets (B4+C2) 9076.2 9805.2 9978.9 10053.7 12369.5 13554.9
D.Operation:
1.Gross sales 6680.9 5893.1 8245.8 9872.0 11752.0 13906.5
(i)Local sales 1791.1 2394.5 3617.3 4091.6 4852.2 8919.4
(ii)Export sales 4889.8 3498.6 4628.5 5780.4 6899.8 4987.1
2.Cost of Sales 5625.3 4929.8 7081.2 8446.1 10052.9 11568.1
3.Gross profit 1055.6 963.3 1164.6 1425.9 1699.1 2338.4
8.Tax provision 60.1 39.0 47.0 67.4 66.0 83.0
3.Finance from outside the company (E1-E2) 427.0 600.1 158.9 -291.6 681.8 350.6
F.Cash Flow Data
64
Gulistan Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 121.8 134.6 216.6 213.6 213.6 220.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 50.0 40.9 76.2 93.0 93.0 86.0
(i)Cash 40.1 30.4 55.0 69.7 69.7 58.8
(ii)Investments 9.9 10.5 21.2 23.3 23.3 27.2
3.Inventories 295.3 396.0 313.4 419.4 419.4 663.0
C.Fixed Assets:
4.Total assets (B4+C2) 878.3 966.8 1188.8 1345.3 1345.3 1678.9
D.Operation:
1.Gross sales 856.3 609.1 930.9 1067.2 1067.2 1355.7
(i)Local sales 360.4 195.8 930.9 332.2 332.2 560.2
(ii)Export sales 495.9 413.3 0.0 735.0 735.0 795.5
2.Cost of Sales 800.3 536.4 791.5 912.4 912.4 1136.1
3.Gross profit 56.0 72.7 139.4 154.8 154.8 219.6
7.Net profit before tax (D5-D6) 5.3 18.4 22.4 -289.0 -289.0 20.8
8.Tax provision 6.2 5.2 9.6 10.9 10.9 8.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -36.5 47.0 156.0 -178.6 0.0 49.8
2.Retention in business (D7-D8-D9) -0.9 13.2 12.8 -299.9 -299.9 12.8
3.Finance from outside the company (E1-E2) -35.6 33.8 143.2 121.3 299.9 37.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 27.2 33.1 52.0 -255.5 -255.5 38.8
2.Depreciation for the year plus changes in capital employed (C3+E1) -8.4 66.9 195.2 -134.2 44.4 75.8
5.Return on assets (D7 as % of C4) 0.6 1.9 1.9 -21.5 -21.5 1.2
7.Cash flow ratio F1 as % of F2 - 49.5 26.6 190.4 -575.5 51.2
15.Return on Equity (D7 as % of A3) 2.4 7.8 7.1 -89.3 -89.3 5.9
3.Net profit margin (D7 as % of D1) 0.6 3.0 2.4 -27.1 -27.1 1.5
4.Earning per share before tax (D7/No. of ordinary shares) 0.5 1.8 2.2 -26.3 -26.3 1.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.1 1.3 1.3 -27.3 -27.3 1.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -61.5 260.0 22.2 -1295.5 0.0 -106.1
65
Gulistan Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 826.3 941.9 2126.9 2333.7 2371.8 2340.1
5.Debentures 0.0 52.9 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 391.9 402.3 1319.7 1515.9 1517.7 1468.2
(i)Cash 35.8 38.7 34.8 55.4 28.8 56.8
(ii)Investments 356.1 363.6 1284.9 1460.5 1488.9 1411.4
3.Inventories 1097.3 1407.5 1573.2 1892.0 2872.1 4098.0
C.Fixed Assets:
4.Total assets (B4+C2) 3611.1 4079.7 5757.0 6639.2 7822.0 9277.1
D.Operation:
1.Gross sales 3904.4 2705.6 3651.7 4326.5 5249.8 5245.4
(i)Local sales 2335.2 1502.8 3651.7 2900.4 3517.5 3669.9
(ii)Export sales 1569.2 1202.8 0.0 1426.1 1732.3 1575.5
2.Cost of Sales 3615.1 2415.0 3082.9 3756.5 4513.1 4197.9
3.Gross profit 289.3 290.6 568.8 570.0 736.7 1047.5
8.Tax provision 20.1 15.3 18.7 21.6 26.2 15.5
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -182.3 162.4 1383.6 135.8 -74.8 -204.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -58.5 250.5 1519.0 276.1 14.8 -108.6
6.Self financing ratio (E2 as % of E1) - 28.1 5.7 27.2 -131.1 -6.1
7.Cash flow ratio F1 as % of F2 - 53.4 14.1 64.2 1268.2 -99.4
66
Gulshan Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 455.3 484.7 758.0 778.1 811.9 817.9
5.Debentures 479.2 127.9 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 74.8 47.8 200.7 194.8 236.7 340.2
(i)Cash 47.8 21.5 74.1 88.8 129.2 161.0
(ii)Investments 27.0 26.3 126.6 106.0 107.5 179.2
3.Inventories 664.5 936.8 815.4 1159.7 1302.4 1825.4
C.Fixed Assets:
4.Total assets (B4+C2) 2177.3 2580.1 3077.3 3390.3 3601.1 4305.7
D.Operation:
1.Gross sales 2077.5 1658.6 2304.9 2003.9 2210.9 2571.9
(i)Local sales 1292.8 904.0 1140.1 643.1 670.8 1055.6
(ii)Export sales 784.7 754.6 1164.8 1360.8 1540.1 1516.3
2.Cost of Sales 1921.1 1481.1 1959.6 1653.4 1805.1 2073.4
3.Gross profit 156.4 177.5 345.3 350.5 405.8 498.5
8.Tax provision 9.7 9.6 14.6 20.3 15.1 34.1
F.Cash Flow Data
67
Hafiz Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - -123.0 -120.2 -19.8 -13.3
3.Shareholder's Equity (A1+A2) - - -111.0 -108.2 -7.8 -1.3
5.Debentures - - 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) - - 16.9 18.6 -7.8 -1.3
B.Liquidity:
1.Liquid Assets: - - 0.5 0.2 0.7 0.4
(i)Cash - - 0.5 0.2 0.7 0.4
(ii)Investments - - 0.0 0.0 0.0 0.0
3.Inventories - - 0.0 0.0 0.0 0.0
7.Net Current Assets(B4-B5) - - -77.2 -73.8 -99.7 -91.4
C.Fixed Assets:
4.Total assets (B4+C2) - - 97.8 95.0 94.1 91.2
D.Operation:
1.Gross sales - - 0.0 0.0 0.0 0.0
(i)Local sales - - 0.0 0.0 0.0 0.0
(ii)Export sales - - 0.0 0.0 0.0 0.0
2.Cost of Sales - - 0.0 0.0 0.0 0.0
3.Gross profit - - 0.0 0.0 0.0 0.0
5.Operating profit - - 0.2 0.4 1.1 7.2
7.Net profit before tax (D5-D6) - - 0.2 0.4 1.1 7.2
8.Tax provision - - 0.8 0.2 0.2 0.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - -26.4 6.5
2.Retention in business (D7-D8-D9) - - -0.6 0.2 0.9 5.6
3.Finance from outside the company (E1-E2) - - - - -27.3 0.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - 1.3 2.0 93.2 7.3
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - 65.9 8.2
5.Return on assets (D7 as % of C4) - - 0.2 0.4 1.2 7.9
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - -925.0 -901.7 -65.0 -10.8
10.Financial expenses as % of operating profit (D6 as % of D5) - - 0.0 0.0 0.0 0.0
4.Earning per share before tax (D7/No. of ordinary shares) - - 0.2 0.3 0.9 6.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - -0.5 0.2 0.8 5.4
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -80.0 -70.0 200.0 566.7
10.Break-up value of ordinary shares (in rupees) - - -92.5 -90.2 -6.5 -1.1
68
Haji Mohammad Ismail Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 33.9 36.9 50.8 54.3 22.1 5.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 22.4 22.1 18.3 2.2 0.1 1.2
(i)Cash 0.6 0.6 1.4 2.2 0.1 0.7
(ii)Investments 21.8 21.5 16.9 0.0 0.0 0.5
3.Inventories 117.1 148.1 106.0 64.2 27.9 1.5
C.Fixed Assets:
4.Total assets (B4+C2) 340.8 376.0 371.9 351.1 288.8 254.9
D.Operation:
1.Gross sales 460.9 366.1 625.3 265.3 70.5 93.4
(i)Local sales 460.9 334.9 520.9 248.8 70.5 93.4
(ii)Export sales 0.0 31.2 104.4 16.5 0.0 0.0
2.Cost of Sales 445.4 354.1 605.0 247.8 79.5 94.1
3.Gross profit 15.5 12.0 20.3 17.5 -9.0 -0.7
8.Tax provision 2.3 1.6 3.1 1.3 0.4 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -13.0 -7.6 7.8 16.5 -13.9 -5.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -3.3 0.6 20.2 36.6 -8.1 3.0
7.Cash flow ratio F1 as % of F2 - 1666.7 94.6 -40.4 217.3 -180.0
69
Hajra Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -20.9 -39.4 -87.5 -158.8 -201.4 -285.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 15.1 12.1 35.1 35.6 4.3 1.1
(i)Cash 10.1 7.1 30.1 35.6 4.3 1.1
(ii)Investments 5.0 5.0 5.0 0.0 0.0 0.0
3.Inventories 76.0 91.5 52.2 60.8 86.7 31.2
C.Fixed Assets:
4.Total assets (B4+C2) 533.3 570.1 589.9 593.4 679.7 718.3
D.Operation:
1.Gross sales 862.9 563.5 624.1 507.5 665.2 776.1
(i)Local sales 862.9 563.5 624.1 507.5 665.2 776.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 848.8 562.1 622.3 554.4 667.5 782.2
3.Gross profit 14.1 1.4 1.8 -46.9 -2.3 -6.1
8.Tax provision 3.7 2.5 3.1 2.5 3.3 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -1.0 -9.4 45.9 -52.4 -28.0 -56.4
2.Depreciation for the year plus changes in capital employed (C3+E1) 20.5 -4.1 -146.3 -62.0 147.7 -108.8
7.Cash flow ratio F1 as % of F2 -4.9 - -31.4 84.5 -19.0 51.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 10.4 -3.6 -7.6 0.0
15.Return on Equity (D7 as % of A3) -30.9 -65.3 59.8 0.0 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -51.1 27.3 -178.6 -327.3 -38.0 83.9
70
Hala Enterprises Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -21.0 -1.0 19.2 32.0 20.3 30.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.5 1.5 3.1 2.2 2.2 3.6
(i)Cash 1.6 0.6 1.5 1.1 0.6 1.4
(ii)Investments 0.9 0.9 1.6 1.1 1.6 2.2
3.Inventories 40.0 59.1 86.3 87.7 89.7 90.8
7.Net Current Assets(B4-B5) 11.8 4.1 -35.7 -29.9 11.2 -22.0
C.Fixed Assets:
4.Total assets (B4+C2) 214.1 241.9 332.5 309.7 308.1 304.9
D.Operation:
1.Gross sales 278.9 365.1 391.4 458.8 429.2 454.6
(i)Local sales 5.0 11.1 16.0 21.1 20.3 19.8
(ii)Export sales 273.9 354.0 375.4 437.7 408.9 434.8
2.Cost of Sales 237.1 270.5 295.6 358.9 358.0 348.2
3.Gross profit 41.8 94.6 95.8 99.9 71.2 106.4
8.Tax provision 2.0 2.6 3.7 4.4 4.1 4.4
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 38.6 660.6 45.8 165.2 -11.3 -49.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -22.2 30.9 7.2 17.2 -6.5 5.9
71
Hamid Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -296.5 -89.8 -107.8 -344.0 -344.0 -367.2
3.Shareholder's Equity (A1+A2) -163.8 42.9 24.9 -211.3 -211.3 -234.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -95.9 99.8 73.4 -172.1 -172.1 -214.0
B.Liquidity:
1.Liquid Assets: 0.1 0.5 0.0 0.8 0.8 0.6
(i)Cash 0.1 0.5 0.0 0.8 0.8 0.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 41.4 70.2 95.0 70.7 70.7 46.3
C.Fixed Assets:
4.Total assets (B4+C2) 327.2 352.6 383.4 330.3 330.3 271.2
D.Operation:
1.Gross sales 71.6 314.1 392.9 380.9 380.9 250.1
(i)Local sales 71.6 266.7 375.9 367.8 367.8 250.1
(ii)Export sales 0.0 47.4 17.0 13.1 13.1 0.0
2.Cost of Sales 105.7 319.6 381.0 383.4 383.4 272.0
3.Gross profit -34.1 -5.5 11.9 -2.5 -2.5 -21.9
5.Operating profit -13.8 -13.2 1.3 24.0 24.0 83.6
7.Net profit before tax (D5-D6) -17.5 -20.9 -17.5 4.1 4.1 68.7
8.Tax provision 0.4 1.4 2.0 1.9 1.9 0.0
2.Retention in business (D7-D8-D9) -17.9 -22.3 -19.5 2.2 2.2 68.7
3.Finance from outside the company (E1-E2) -35.7 218.0 -6.9 -247.7 -2.2 -110.6
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -3.9 -11.6 -5.4 14.8 14.8 80.5
1.Gearing ratio (A7 as % of A8) - 57.0 66.1 0.0 0.0 0.0
5.Return on assets (D7 as % of C4) -5.3 -5.9 -4.6 1.2 1.2 25.3
6.Self financing ratio (E2 as % of E1) - -11.4 73.9 -0.9 0.0 -164.0
7.Cash flow ratio F1 as % of F2 - -5.6 43.9 -6.4 117.5 -267.4
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -123.4 32.3 18.8 -159.2 -159.2 -176.7
15.Return on Equity (D7 as % of A3) - -48.7 -70.3 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -24.4 -6.7 -4.5 1.1 1.1 27.5
4.Earning per share before tax (D7/No. of ordinary shares) -1.3 -1.6 -1.3 0.3 0.3 5.2
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.3 -1.7 -1.5 0.2 0.2 5.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 73.8 338.7 25.1 -3.1 0.0 -34.3
10.Break-up value of ordinary shares (in rupees) -12.3 3.2 1.9 -15.9 -15.9 -17.7
72
Hira Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - 352.6 412.3 413.8
5.Debentures - - - 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - - 179.9 210.3 265.3
(i)Cash - - - 3.4 2.1 17.6
(ii)Investments - - - 176.5 208.2 247.7
3.Inventories - - - 766.0 1199.0 1194.9
7.Net Current Assets(B4-B5) - - - 48.0 -36.5 -75.6
9.Net liquid assets (B1-B5) - - - -909.6 -1524.1 -1533.1
C.Fixed Assets:
4.Total assets (B4+C2) - - - 2447.2 3261.5 3223.6
D.Operation:
1.Gross sales - - - 1665.0 1729.2 2524.7
(i)Local sales - - - 635.4 1176.1 1660.5
(ii)Export sales - - - 1029.6 553.1 864.2
2.Cost of Sales - - - 1412.8 1471.2 2132.5
3.Gross profit - - - 252.2 258.0 392.2
8.Tax provision - - - 15.8 8.6 10.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - - -102.0
2.Retention in business (D7-D8-D9) - - - 5.1 55.0 1.8
3.Finance from outside the company (E1-E2) - - - - - -103.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - 81.8 124.1 81.4
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - - -22.4
6.Self financing ratio (E2 as % of E1) - - - 0.0 0.0 -1.8
7.Cash flow ratio F1 as % of F2 - - - 0.0 0.0 -363.4
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - -70.0 -10.0 -77.8
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - - 46.0
73
Husein Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 337.4 366.2 327.5 309.3 291.1 278.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.8 9.4 9.2 4.8 4.2 1.8
(i)Cash 6.4 8.9 8.7 4.8 4.2 1.3
(ii)Investments 0.4 0.5 0.5 0.0 0.0 0.5
3.Inventories 457.8 593.8 610.0 800.1 801.4 797.8
7.Net Current Assets(B4-B5) -47.3 -51.8 174.6 168.7 77.1 190.8
C.Fixed Assets:
4.Total assets (B4+C2) 1692.7 1827.3 1692.3 1970.5 1970.8 2027.0
D.Operation:
1.Gross sales 1662.6 959.3 1028.2 1155.1 1089.4 1395.3
(i)Local sales 257.4 519.9 733.8 561.1 468.0 248.1
(ii)Export sales 1405.2 439.4 294.4 594.0 621.4 1147.2
2.Cost of Sales 1456.8 827.6 905.7 992.1 939.4 1167.4
3.Gross profit 205.8 131.7 122.5 163.0 150.0 227.9
8.Tax provision 7.9 4.5 5.2 7.4 1.8 6.8
3.Finance from outside the company (E1-E2) 5.8 17.7 201.2 232.9 -89.6 84.5
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -10.3 -32.7 -125.7 -138.1 87.5 -186.7
74
ICC Textiles Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 72.2 81.8 226.7 148.5 -13.4 255.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 53.2 23.7 24.7 10.2 12.1 5.9
(i)Cash 25.1 23.7 24.7 10.2 12.1 5.9
(ii)Investments 28.1 0.0 0.0 0.0 0.0 0.0
3.Inventories 121.1 226.0 237.4 246.7 179.9 212.7
C.Fixed Assets:
4.Total assets (B4+C2) 570.0 994.9 1179.1 1167.5 1065.1 1457.8
D.Operation:
1.Gross sales 633.8 540.3 1205.2 1223.4 1248.7 1331.9
(i)Local sales 286.5 296.2 663.8 778.0 830.2 909.9
(ii)Export sales 347.3 244.1 541.4 445.4 418.5 422.0
2.Cost of Sales 551.0 481.6 1101.4 1151.5 1268.2 1242.9
3.Gross profit 82.8 58.7 103.8 71.9 -19.5 89.0
7.Net profit before tax (D5-D6) 33.6 11.4 -25.9 -72.3 -155.8 -69.8
8.Tax provision 3.5 3.2 6.8 6.1 6.2 4.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 75.8 172.6 100.7 -125.9 -155.4 249.7
2.Retention in business (D7-D8-D9) 30.1 8.2 -32.7 -78.4 -162.0 -74.0
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 5.9 1.1 -2.2 -6.2 -14.6 -4.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 10.4 28.1 -26.3 -8.4 -4.0 -6.0
15.Return on Equity (D7 as % of A3) 19.5 6.3 -7.9 -29.1 -179.9 -19.6
3.Net profit margin (D7 as % of D1) 5.3 2.1 -2.1 -5.9 -12.5 -5.2
4.Earning per share before tax (D7/No. of ordinary shares) 3.4 1.1 -2.6 -7.2 -15.6 -7.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.0 0.8 -3.3 -7.8 -16.2 -7.4
75
Ideal Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 22.6 42.5 23.7 11.3 -25.3 -70.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.2 6.0 12.1 39.5 6.6 3.3
(i)Cash 10.2 6.0 12.1 39.5 6.6 3.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 61.4 78.5 86.9 81.0 179.2 90.3
C.Fixed Assets:
4.Total assets (B4+C2) 344.6 563.0 715.5 732.8 845.2 740.3
D.Operation:
1.Gross sales 778.3 583.5 694.0 800.2 985.1 1111.4
(i)Local sales 778.3 583.5 694.0 800.2 985.1 1111.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 767.2 547.9 626.5 734.2 938.5 1050.1
3.Gross profit 11.1 35.6 67.5 66.0 46.6 61.3
5.Operating profit -9.1 18.8 44.6 43.8 11.2 24.4
8.Tax provision 3.4 2.6 3.6 4.3 4.9 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -0.4 20.0 40.8 25.9 -4.6 -0.8
6.Self financing ratio (E2 as % of E1) -78.2 1.3 11.7 52.5 81.5 59.3
10.Financial expenses as % of operating profit (D6 as % of D5) - 71.8 71.3 130.8 504.5 294.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 49.1 28.1 -31.9 -10.8 0.0
15.Return on Equity (D7 as % of A3) -14.3 3.7 10.4 -12.2 -61.3 -165.7
76
Idrees Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 241.7 276.0 390.0 426.7 413.0 421.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.7 6.6 43.6 65.6 101.5 30.8
(i)Cash 3.7 6.6 43.6 65.6 101.5 30.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 183.7 299.1 266.9 328.2 489.2 490.1
C.Fixed Assets:
4.Total assets (B4+C2) 1045.8 1229.6 1488.0 1755.6 1978.8 1824.7
D.Operation:
1.Gross sales 850.8 741.3 621.0 754.3 865.7 751.7
(i)Local sales 846.1 723.8 603.0 754.3 865.7 751.7
(ii)Export sales 4.7 17.5 18.0 0.0 0.0 0.0
2.Cost of Sales 780.3 651.0 509.5 634.2 711.0 635.4
3.Gross profit 70.5 90.3 111.5 120.1 154.7 116.3
8.Tax provision 4.1 3.4 3.1 3.8 4.4 3.1
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -366.7 -55.0 -22.2 7.1 0.0 -153.3
77
Indus Dyeing & Manufacturing Co. Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 808.5 1507.0 1698.3 2101.7 2120.9 2296.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 29.6 35.2 28.7 972.7 977.3 1103.0
(i)Cash 19.4 24.2 28.7 41.2 49.3 66.9
(ii)Investments 10.2 11.0 0.0 931.5 928.0 1036.1
3.Inventories 472.4 1248.5 1467.0 1251.6 1511.1 2215.8
7.Net Current Assets(B4-B5) 111.9 174.6 -319.3 676.7 976.8 626.9
C.Fixed Assets:
4.Total assets (B4+C2) 2294.2 5023.5 6402.0 6683.7 6917.2 7208.6
D.Operation:
1.Gross sales 3743.3 3920.3 6176.5 6581.9 7312.0 8470.1
(i)Local sales 1358.6 1680.8 1985.0 2351.1 3643.9 4509.8
(ii)Export sales 2384.7 2239.5 4191.5 4230.8 3668.1 3960.3
2.Cost of Sales 3284.0 3174.3 5290.5 5636.8 6413.0 7336.0
3.Gross profit 459.3 746.0 886.0 945.1 899.0 1134.1
8.Tax provision 45.8 28.5 69.6 59.7 72.4 74.9
F.Cash Flow Data
78
International Knitwear Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -15.3 -15.2 -14.6 -8.3 5.6 16.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.5 1.4 0.6 1.4 16.0 3.8
(i)Cash 1.5 1.4 0.6 1.4 16.0 3.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 12.8 8.8 12.9 14.1 10.4 7.5
7.Net Current Assets(B4-B5) -3.2 -4.1 -2.0 4.6 21.4 26.7
C.Fixed Assets:
4.Total assets (B4+C2) 61.2 57.2 69.2 89.2 102.1 88.2
D.Operation:
1.Gross sales 125.7 83.0 85.9 145.3 180.2 158.5
(i)Local sales 66.6 20.9 51.1 77.7 96.3 86.8
(ii)Export sales 59.1 62.1 34.8 67.6 83.9 71.7
2.Cost of Sales 74.1 73.4 78.7 130.8 154.2 137.1
3.Gross profit 51.6 9.6 7.2 14.5 26.0 21.4
8.Tax provision 0.5 0.6 0.6 1.4 1.8 1.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -5.6 0.1 0.6 6.3 14.1 10.9
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -1.9 4.4 4.4 10.7 18.2 15.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 5033.3 -96.1 16.7 271.4 107.7 -25.9
79
Ishaq Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 379.8 414.4 355.0 373.0 355.0 331.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.2 86.8 6.9 91.1 13.7 9.6
(i)Cash 9.2 86.8 6.9 91.1 13.7 9.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 415.5 430.4 438.9 541.4 680.6 641.7
7.Net Current Assets(B4-B5) -69.2 20.6 -122.2 -113.7 32.9 -17.9
C.Fixed Assets:
4.Total assets (B4+C2) 1588.6 1857.2 1832.1 2008.3 2130.8 1975.8
D.Operation:
1.Gross sales 1619.1 1313.5 1582.6 1732.5 2200.7 2389.3
(i)Local sales 1619.1 692.6 935.5 1105.3 1243.5 1630.5
(ii)Export sales 0.0 620.9 647.1 627.2 957.2 758.8
2.Cost of Sales 1481.4 1155.7 1388.5 1569.3 1960.3 2093.8
3.Gross profit 137.7 157.8 194.1 163.2 240.4 295.5
8.Tax provision 7.5 7.4 13.3 9.5 11.0 8.1
F.Cash Flow Data
80
Ishtiaq Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -23.6 -15.2 99.8 97.7 89.4 54.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 8.2 2.7 0.8 0.7 0.7 3.7
(i)Cash 8.2 2.7 0.8 0.7 0.7 3.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 28.5 76.9 78.6 78.3 63.5 105.3
C.Fixed Assets:
4.Total assets (B4+C2) 286.9 312.1 488.5 488.5 467.3 466.6
D.Operation:
1.Gross sales 645.6 390.5 535.9 549.3 531.5 226.4
(i)Local sales 645.6 390.5 535.9 549.3 531.5 226.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 636.2 365.1 502.9 521.0 519.5 239.9
3.Gross profit 9.4 25.4 33.0 28.3 12.0 -13.5
8.Tax provision 2.8 1.7 2.7 2.7 2.7 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -16.1 -1.5 94.4 -40.7 62.6 -123.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -1.3 18.4 21.0 13.6 5.7 -21.5
2.Depreciation for the year plus changes in capital employed (C3+E1) -3.0 8.2 109.2 -19.2 82.7 -104.6
7.Cash flow ratio F1 as % of F2 - 224.4 19.2 -70.8 6.9 20.6
81
Island Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 232.9 233.6 190.8 216.3 344.9 351.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.1 13.4 34.7 40.6 29.2 141.2
(i)Cash 4.1 10.5 16.1 23.1 11.0 10.7
(ii)Investments 2.0 2.9 18.6 17.5 18.2 130.5
3.Inventories 261.8 219.7 134.5 242.2 327.0 370.8
7.Net Current Assets(B4-B5) 20.2 -15.1 -30.9 -63.1 39.9 -51.6
C.Fixed Assets:
4.Total assets (B4+C2) 848.4 818.1 709.5 867.8 1250.5 1278.4
D.Operation:
1.Gross sales 943.9 798.7 980.1 1007.6 1025.0 1245.2
(i)Local sales 846.1 615.7 710.3 676.0 544.6 885.4
(ii)Export sales 97.8 183.0 269.8 331.6 480.4 359.8
2.Cost of Sales 876.2 733.2 846.8 875.4 868.1 1131.9
3.Gross profit 67.7 65.5 133.3 132.2 156.9 113.3
8.Tax provision 4.2 3.6 9.4 11.1 5.7 3.5
3.Finance from outside the company (E1-E2) 83.9 -56.7 -57.5 -54.9 391.2 35.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 12.3 - -44.1 -12.0 -11.0 132.6
7.Cash flow ratio F1 as % of F2 39.2 - -499.0 -151.8 -3.5 133.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -64.9 -66.5 387.9 -35.3 -281.4 322.0
82
J.A. Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -154.1 -131.1 -167.9 17.0 -13.6 -50.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -13.0 10.0 173.6 158.1 127.5 90.7
B.Liquidity:
1.Liquid Assets: 2.4 9.5 1.6 20.9 14.9 9.7
(i)Cash 2.4 9.4 1.4 20.9 14.9 9.7
(ii)Investments 0.0 0.1 0.2 0.0 0.0 0.0
3.Inventories 16.6 34.0 13.2 15.2 26.4 13.6
C.Fixed Assets:
4.Total assets (B4+C2) 241.7 269.9 256.8 470.5 426.6 353.3
D.Operation:
1.Gross sales 264.7 221.9 470.0 497.6 572.4 480.3
(i)Local sales 245.3 154.6 470.0 446.2 549.1 433.1
(ii)Export sales 19.4 67.3 0.0 51.4 23.3 47.2
2.Cost of Sales 298.7 209.1 437.0 471.6 590.5 509.7
3.Gross profit -34.0 12.8 33.0 26.0 -18.1 -29.4
7.Net profit before tax (D5-D6) -41.8 -2.0 9.9 12.2 -33.8 -41.0
8.Tax provision 1.2 1.4 3.8 2.5 2.8 0.6
2.Retention in business (D7-D8-D9) -43.0 -3.4 6.1 9.7 -36.6 -41.6
3.Finance from outside the company (E1-E2) -25.3 26.4 157.5 -25.2 6.0 4.8
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -17.3 -0.7 3.9 2.6 -7.9 -11.6
6.Self financing ratio (E2 as % of E1) - -14.8 3.7 -62.6 119.6 113.0
3.Net profit margin (D7 as % of D1) -15.8 -0.9 2.1 2.5 -5.9 -8.5
4.Earning per share before tax (D7/No. of ordinary shares) -3.3 -0.2 0.8 1.0 -2.7 -3.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -3.4 -0.3 0.5 0.8 -2.9 -3.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -26.3 -16.2 111.8 5.9 15.0 -16.1
83
J.K. Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 276.5 268.9 202.6 413.8 371.3 351.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 27.6 40.8 7.6 9.8 20.8 5.2
(i)Cash 27.6 40.8 7.6 9.8 20.8 5.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 157.0 134.1 122.2 122.4 181.4 107.4
C.Fixed Assets:
4.Total assets (B4+C2) 712.5 860.7 1127.7 1397.0 1374.9 1332.5
D.Operation:
1.Gross sales 660.1 415.9 614.8 637.1 747.6 835.2
(i)Local sales 388.2 98.3 614.8 366.8 615.4 687.7
(ii)Export sales 271.9 317.6 0.0 270.3 132.2 147.5
2.Cost of Sales 614.9 368.0 539.9 515.9 646.2 743.5
3.Gross profit 45.2 47.9 74.9 121.2 101.4 91.7
7.Net profit before tax (D5-D6) 7.1 -5.3 -41.1 14.3 -10.4 -1.6
8.Tax provision 6.2 3.9 7.0 8.7 4.9 1.3
2.Retention in business (D7-D8-D9) 0.9 -9.2 -48.1 5.6 -15.3 -2.9
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 1.0 -0.6 -3.6 1.0 -0.8 -0.1
6.Self financing ratio (E2 as % of E1) 0.9 -15.1 -87.6 8.3 -29.8 2.1
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 87.3 - -17.0 60.8 -47.1 -81.3
15.Return on Equity (D7 as % of A3) 2.0 -1.6 -15.1 3.0 -2.4 -0.4
3.Net profit margin (D7 as % of D1) 1.1 -1.3 -6.7 2.2 -1.4 -0.2
4.Earning per share before tax (D7/No. of ordinary shares) 1.0 -0.8 -5.9 2.0 -1.5 -0.2
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.1 -1.3 -6.9 0.8 -2.2 -0.4
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 11.1 -180.0 637.5 -133.9 -175.0 -86.7
84
Janana De Malucho Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 555.6 655.3 517.1 858.0 869.4 800.1
5.Debentures 0.0 0.0 0.0 16.5 0.0 0.0
B.Liquidity:
1.Liquid Assets: 12.9 12.0 36.7 33.8 46.1 14.0
(i)Cash 3.2 2.3 9.8 4.8 5.1 3.2
(ii)Investments 9.7 9.7 26.9 29.0 41.0 10.8
3.Inventories 138.1 325.1 308.0 379.0 430.8 358.9
C.Fixed Assets:
4.Total assets (B4+C2) 1063.0 1606.7 1649.2 2061.9 2128.7 1977.3
D.Operation:
1.Gross sales 728.3 523.8 970.4 1079.6 1130.6 1071.7
(i)Local sales 728.3 523.8 970.4 1079.6 1130.6 1071.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 661.0 488.9 901.7 934.3 979.0 1010.1
3.Gross profit 67.3 34.9 68.7 145.3 151.6 61.6
7.Net profit before tax (D5-D6) 36.7 -9.5 -44.3 6.2 19.4 -149.1
8.Tax provision 15.4 2.3 4.9 5.4 5.6 0.0
2.Retention in business (D7-D8-D9) 21.3 -11.8 -49.2 0.8 13.8 -149.1
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 3.5 -0.6 -2.7 0.3 0.9 -7.5
6.Self financing ratio (E2 as % of E1) 7.6 -2.6 37.1 0.2 12.2 67.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 42.0 - -11.1 87.1 28.9 0.0
15.Return on Equity (D7 as % of A3) 6.3 -1.4 -8.1 0.7 2.2 -17.9
3.Net profit margin (D7 as % of D1) 5.0 -1.8 -4.6 0.6 1.7 -13.9
4.Earning per share before tax (D7/No. of ordinary shares) 12.8 -3.3 -15.4 2.0 6.1 -47.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 7.4 -4.1 -17.1 0.3 4.4 -47.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -12.9 -125.8 366.7 -113.0 205.0 -870.5
85
Jubilee Spinning & Weaving Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -147.2 -154.8 174.0 -35.0 289.1 331.2
3.Shareholder's Equity (A1+A2) -77.0 -84.6 244.2 35.2 359.3 656.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 92.9 107.7 95.6 5.4 6.0 56.5
(i)Cash 1.1 3.5 5.8 5.4 5.4 8.0
(ii)Investments 91.8 104.2 89.8 0.0 0.6 48.5
3.Inventories 32.2 30.3 40.9 22.3 30.7 28.6
7.Net Current Assets(B4-B5) -124.4 -153.3 -186.1 -213.5 -153.6 63.7
C.Fixed Assets:
4.Total assets (B4+C2) 430.2 414.3 760.7 634.7 814.9 932.5
D.Operation:
1.Gross sales 540.4 436.5 581.3 651.2 751.9 763.3
(i)Local sales 540.4 436.5 581.3 651.2 751.9 763.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 523.9 413.0 556.3 658.8 741.3 707.4
3.Gross profit 16.5 23.5 25.0 -7.6 10.6 55.9
8.Tax provision 2.7 2.2 2.9 4.8 3.8 1.3
2.Retention in business (D7-D8-D9) 31.7 2.9 -7.7 4.3 -3.7 22.8
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - -2.5 -7.0 -2.0 11.4
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -109.7 -120.5 347.9 50.1 511.8 201.9
15.Return on Equity (D7 as % of A3) - - -2.0 25.9 0.0 3.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 4.5 0.4 -1.1 0.6 -0.5 0.7
10.Break-up value of ordinary shares (in rupees) -11.0 -12.1 34.8 5.0 51.2 20.2
86
Karim Cotton Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -12.2 -12.2 -12.3 -12.4 -12.5 -12.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.0 0.0 14.2
(i)Cash 0.0 0.0 0.0 0.0 0.0 14.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 0.1 0.1 0.1 0.1 0.1 81.5
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -2.6 - 100.0 100.0 100.0 100.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 0.0 -100.0 0.0 0.0 0.0 100.0
87
Khalid Siraj Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 140.0 166.2 49.0 15.6 138.3 54.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.6 3.6 4.0 2.8 2.5 1.7
(i)Cash 2.6 3.6 4.0 2.8 2.5 1.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 72.8 133.5 73.2 52.6 47.1 2.5
C.Fixed Assets:
4.Total assets (B4+C2) 486.3 520.4 507.1 491.1 682.1 545.8
D.Operation:
1.Gross sales 4.2 301.3 425.3 494.0 657.7 431.3
(i)Local sales 0.0 251.5 395.8 479.2 639.6 431.0
(ii)Export sales 4.2 49.8 29.5 14.8 18.1 0.3
2.Cost of Sales 469.2 285.9 424.9 500.6 691.9 487.5
3.Gross profit -465.0 15.4 0.4 -6.6 -34.2 -56.2
8.Tax provision 2.0 1.5 2.1 2.5 3.3 2.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 4.2 46.5 -118.0 -33.9 224.1 -176.5
6.Self financing ratio (E2 as % of E1) - -22.8 31.0 108.2 -38.3 52.2
7.Cash flow ratio F1 as % of F2 -10997.6 3.9 23.7 110.9 -29.7 49.9
10.Financial expenses as % of operating profit (D6 as % of D5) - 236.0 -168.5 -89.7 -33.3 -30.7
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -98.7 7073.8 41.2 16.2 33.1 -34.4
88
Khurshid Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -108.5 134.1 -12.6 -101.1 -169.1 -261.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 13.6 20.7 1.5 4.4 3.3 0.9
(i)Cash 13.6 20.7 1.5 4.4 3.3 0.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
2.Other Current Assets 43.1 26.8 19.5 23.9 30.0 -39.3
3.Inventories 79.1 72.0 80.7 69.6 99.2 92.2
C.Fixed Assets:
4.Total assets (B4+C2) 338.2 545.5 528.6 508.1 506.2 437.0
D.Operation:
1.Gross sales 369.5 373.9 408.4 405.4 378.6 292.9
(i)Local sales 369.5 373.9 408.4 405.4 378.6 292.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 352.8 335.6 405.8 454.8 397.9 346.6
3.Gross profit 16.7 38.3 2.6 -49.4 -19.3 -53.7
5.Operating profit 3.5 26.9 -17.0 -66.9 -37.7 -65.5
8.Tax provision 1.8 2.8 2.0 2.0 1.9 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 25.9 246.5 -109.2 -104.9 74.1 -77.5
F.Cash Flow Data
3.Acid test or Quick ratio (B4-B3 as % B5) 24.8 25.1 7.5 7.7 11.5 -12.9
10.Financial expenses as % of operating profit (D6 as % of D5) 302.9 61.0 -131.8 -32.9 -79.6 -53.3
15.Return on Equity (D7 as % of A3) -30.6 4.0 -33.1 -290.5 0.0 0.0
89
Khyber Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -5.0 -9.4 -27.4 0.3 0.3 -49.2
3.Shareholder's Equity (A1+A2) 7.3 2.9 -15.1 12.6 12.6 -36.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 7.3 2.9 -15.1 12.6 21.6 -36.9
B.Liquidity:
1.Liquid Assets: 7.2 2.1 3.7 4.2 0.2 0.1
(i)Cash 7.2 2.1 3.7 4.2 0.2 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 27.4 73.7 45.6 18.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 121.5 132.8 120.1 80.5 53.3 46.7
D.Operation:
1.Gross sales 455.6 258.9 406.0 461.6 14.7 0.0
(i)Local sales 455.6 258.9 406.0 461.6 14.7 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 442.7 257.1 398.2 466.4 22.1 0.0
3.Gross profit 12.9 1.8 7.8 -4.8 -7.4 0.0
8.Tax provision 2.0 1.1 2.0 2.4 0.1 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -2.2 -4.4 -18.0 27.7 9.0 -58.5
3.Finance from outside the company (E1-E2) -3.4 -0.2 -17.0 34.8 17.8 -52.5
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - 5.6 -25.6 -97.8 10.3
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 59.3 23.6 -122.8 102.4 102.4 -300.0
10.Financial expenses as % of operating profit (D6 as % of D5) 42.9 - 75.0 -123.8 -2.4 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 62.5 - 200.0 -51.1 -1.1 0.0
15.Return on Equity (D7 as % of A3) 43.8 -106.9 0.0 -37.3 -69.0 0.0
3.Net profit margin (D7 as % of D1) 0.7 -1.2 0.2 -1.0 -59.2 0.0
10.Break-up value of ordinary shares (in rupees) 5.9 2.4 -12.3 10.2 10.2 -30.0
90
Kohat Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 133.9 199.7 120.0 113.2 158.0 89.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.1 2.8 0.4 0.1 0.1 0.8
(i)Cash 2.1 2.8 0.4 0.1 0.1 0.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 311.7 356.2 329.4 338.7 188.6 101.1
C.Fixed Assets:
4.Total assets (B4+C2) 982.1 1114.4 1167.8 1204.2 1301.5 1245.9
D.Operation:
1.Gross sales 723.5 869.6 1180.3 1317.0 1438.7 1444.7
(i)Local sales 718.1 869.6 1173.8 1299.7 1437.5 1417.0
(ii)Export sales 5.4 0.0 6.5 17.3 1.2 27.7
2.Cost of Sales 678.1 843.5 1054.8 1215.1 1370.9 1444.2
3.Gross profit 45.4 26.1 125.5 101.9 67.8 0.5
8.Tax provision 0.0 0.0 5.9 6.6 7.2 0.3
3.Finance from outside the company (E1-E2) 186.3 125.8 -6.7 73.1 129.2 114.5
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -5.9 -38.1 19.3 -129.2 -258.9 251.3
10.Financial expenses as % of operating profit (D6 as % of D5) 203.0 - 95.1 157.5 425.8 -286.8
15.Return on Equity (D7 as % of A3) -4.6 -12.1 1.3 -10.8 -23.5 -63.8
91
Kohinoor Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 908.8 831.0 623.8 594.9 196.4 86.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 55.7 84.4 52.4 198.7 76.4 30.9
(i)Cash 14.5 66.7 41.5 93.3 24.8 8.9
(ii)Investments 41.2 17.7 10.9 105.4 51.6 22.0
3.Inventories 219.1 365.4 240.0 215.8 14.6 5.8
C.Fixed Assets:
4.Total assets (B4+C2) 4003.8 4278.0 1981.6 2031.8 1392.0 933.4
D.Operation:
1.Gross sales 815.2 765.8 1005.2 1012.3 241.5 0.0
(i)Local sales 804.4 765.8 1005.2 1012.3 241.5 0.0
(ii)Export sales 10.8 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 797.0 729.0 894.3 949.5 234.9 0.0
3.Gross profit 18.2 36.8 110.9 62.8 6.6 0.0
8.Tax provision 4.4 4.6 5.0 5.4 1.9 0.5
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - -41.1 -146.4 38.5 142.3
7.Cash flow ratio F1 as % of F2 - - -89.1 -46.4 34.0 146.2
3.Net profit margin (D7 as % of D1) -9.5 -4.6 8.9 -11.6 -62.7 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -53.5 -6.1 31.3 0.7 -76.1 -100.0
92
Kohinoor Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1542.4 1363.3 1369.1 1369.1 1369.1 1410.5
5.Debentures 0.0 200.0 120.0 120.0 120.0 0.0
B.Liquidity:
1.Liquid Assets: 212.1 350.5 456.8 456.8 456.8 718.6
(i)Cash 135.6 139.3 181.2 181.2 181.2 279.4
(ii)Investments 76.5 211.2 275.6 275.6 275.6 439.2
3.Inventories 821.9 1156.0 1614.5 1614.5 1614.5 1195.9
C.Fixed Assets:
4.Total assets (B4+C2) 5867.3 6929.9 7818.4 7818.4 7818.4 9046.2
D.Operation:
1.Gross sales 4820.3 3840.8 6450.1 6450.1 6450.1 7578.4
(i)Local sales 690.1 1061.0 1346.1 1346.1 1346.1 2117.8
(ii)Export sales 4130.2 2779.8 5104.0 5104.0 5104.0 5460.6
2.Cost of Sales 4316.5 3636.7 5728.2 5728.2 5728.2 6919.3
3.Gross profit 503.8 204.1 721.9 721.9 721.9 659.1
7.Net profit before tax (D5-D6) 154.7 -182.1 6.0 6.0 6.0 -661.8
8.Tax provision 53.9 27.8 59.2 59.2 59.2 54.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 313.3 -76.5 214.9 214.9 214.9 -456.6
5.Return on assets (D7 as % of C4) 2.6 -2.6 0.1 0.1 0.1 -7.3
7.Cash flow ratio F1 as % of F2 28.3 -8.9 -71.5 80.2 80.2 3970.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 34.8 - 986.7 986.7 986.7 -8.2
15.Return on Equity (D7 as % of A3) 8.4 -10.8 0.4 0.4 0.4 -34.5
1.Dividend cover ratio [(D7 - D8) as % of D9] - -697.3 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 3.2 -4.7 0.1 0.1 0.1 -8.7
4.Earning per share before tax (D7/No. of ordinary shares) 5.1 -5.5 0.2 0.2 0.2 -13.0
93
Kohinoor Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -896.7 -871.1 -886.3 -868.3 -856.8 -1059.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -204.8 -319.0 685.6 735.5 915.8 815.4
B.Liquidity:
1.Liquid Assets: 238.6 224.2 170.7 144.9 9.9 73.4
(i)Cash 199.9 197.5 170.2 144.4 8.5 1.4
(ii)Investments 38.7 26.7 0.5 0.5 1.4 72.0
3.Inventories 587.7 528.8 542.5 442.7 703.9 953.3
C.Fixed Assets:
4.Total assets (B4+C2) 1735.7 1689.5 1949.0 1863.0 2287.6 2593.2
D.Operation:
1.Gross sales 2115.4 1517.8 2152.2 2418.4 2511.6 2885.6
(i)Local sales 994.7 494.2 688.8 1215.0 1598.8 1794.9
(ii)Export sales 1120.7 1023.6 1463.4 1203.4 912.8 1090.7
2.Cost of Sales 2022.4 1356.1 1912.0 2149.7 2242.8 2645.5
3.Gross profit 93.0 161.7 240.2 268.7 268.8 240.1
8.Tax provision 14.1 21.7 21.8 18.1 12.7 11.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 57.8 -114.2 1004.6 49.9 180.3 -100.4
2.Retention in business (D7-D8-D9) -41.4 41.0 -82.7 18.8 10.6 -202.2
3.Finance from outside the company (E1-E2) 99.2 -155.2 1087.3 31.1 169.7 101.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 30.1 95.1 -12.2 79.8 69.9 -140.8
2.Depreciation for the year plus changes in capital employed (C3+E1) 129.3 -60.1 1075.1 110.9 239.6 -39.0
6.Self financing ratio (E2 as % of E1) -71.6 - -8.2 37.7 5.9 201.4
7.Cash flow ratio F1 as % of F2 23.3 - -1.1 72.0 29.2 361.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 34.6 59.6 49.1 54.5 -5.8
15.Return on Equity (D7 as % of A3) - - 8.8 8.5 5.3 -79.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.0 1.0 0.1 0.1 0.1 -1.6
94
Kohinoor Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1315.0 6529.9 3649.0 5838.6 3530.4 1413.7
5.Debentures 195.9 184.2 71.3 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1226.2 878.3 4265.5 6001.2 3832.1 3203.7
(i)Cash 155.7 518.1 436.8 63.4 75.4 80.3
(ii)Investments 1070.5 360.2 3828.7 5937.8 3756.7 3123.4
3.Inventories 859.3 2860.6 1607.8 1755.1 1673.1 1779.8
9.Net liquid assets (B1-B5) -1572.4 -3822.0 356.1 1491.9 -1652.9 -3736.9
C.Fixed Assets:
4.Total assets (B4+C2) 5968.5 16263.9 11340.0 14484.0 13515.3 11821.5
D.Operation:
1.Gross sales 5537.8 9060.4 6903.6 7140.2 7558.3 8458.9
(i)Local sales 2174.7 6357.6 3209.1 2911.8 3694.1 3006.7
(ii)Export sales 3363.1 2702.8 3694.5 4228.4 3864.2 5452.2
2.Cost of Sales 4822.2 7173.3 5881.8 6094.6 6395.6 7199.0
3.Gross profit 715.6 1887.1 1021.8 1045.6 1162.7 1259.9
7.Net profit before tax (D5-D6) 444.8 1223.7 354.9 -28.3 130.9 -536.7
8.Tax provision 50.4 -8.8 33.5 41.7 38.4 55.8
2.Retention in business (D7-D8-D9) 394.4 1232.5 321.4 -70.0 92.5 -592.5
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 695.9 8934.4 -3879.5 2871.5 -1580.4 -2779.8
5.Return on assets (D7 as % of C4) 7.5 7.5 3.1 -0.2 1.0 -4.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 11.3 -0.7 9.4 -147.3 29.3 -10.4
15.Return on Equity (D7 as % of A3) 21.0 16.3 7.5 -0.4 2.6 -18.7
3.Net profit margin (D7 as % of D1) 8.0 13.5 5.1 -0.4 1.7 -6.3
4.Earning per share before tax (D7/No. of ordinary shares) 5.5 12.7 3.4 -0.2 0.9 -3.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 4.9 12.8 3.0 -0.5 0.6 -4.1
95
Landmark Spinning Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -222.5 -150.8 -166.5 -167.3 -80.5 -81.4
3.Shareholder's Equity (A1+A2) -101.3 -29.6 -45.3 -46.1 40.7 39.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -73.3 -26.6 -45.3 -46.1 40.7 39.8
B.Liquidity:
1.Liquid Assets: 0.1 0.1 0.1 0.1 0.1 0.1
(i)Cash 0.1 0.1 0.1 0.1 0.1 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 153.8 225.9 153.8 153.5 241.2 241.2
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -93.4 84.0 100.0 -1.0 100.0
7.Cash flow ratio F1 as % of F2 - -93.4 84.0 100.0 -1.0 100.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -83.6 -24.4 -37.4 -38.0 33.6 32.8
10.Break-up value of ordinary shares (in rupees) -8.4 -2.4 -3.7 -3.8 3.4 3.3
96
Mahmood Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1110.4 1407.2 1452.0 1602.1 1581.4 1611.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 162.9 294.4 280.9 270.0 280.7 609.9
(i)Cash 16.1 9.8 7.6 8.8 7.6 9.2
(ii)Investments 146.8 284.6 273.3 261.2 273.1 600.7
3.Inventories 389.0 982.1 939.9 1130.1 1647.0 1443.8
C.Fixed Assets:
4.Total assets (B4+C2) 1557.2 2770.8 3191.3 3710.7 4354.3 4418.4
D.Operation:
1.Gross sales 3971.8 2917.2 3901.3 4518.5 5073.2 6811.3
(i)Local sales 1197.6 398.9 1623.1 1674.2 2432.9 3285.9
(ii)Export sales 2774.2 2518.3 2278.2 2844.3 2640.3 3525.4
2.Cost of Sales 3703.3 2530.3 3497.2 4038.0 4478.3 5727.0
3.Gross profit 268.5 386.9 404.1 480.5 594.9 1084.3
8.Tax provision 44.0 35.8 34.5 40.0 0.0 40.0
F.Cash Flow Data
97
Maqbool Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 88.6 115.9 97.2 36.7 10.3 166.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.8 4.2 1.5 3.3 3.6 9.1
(i)Cash 1.9 3.3 0.6 2.4 2.7 8.2
(ii)Investments 0.9 0.9 0.9 0.9 0.9 0.9
3.Inventories 130.8 127.3 211.3 226.1 223.7 286.3
C.Fixed Assets:
4.Total assets (B4+C2) 459.5 854.8 962.5 1013.4 1171.2 1337.3
D.Operation:
1.Gross sales 1284.0 815.7 1432.7 1634.5 1797.3 1807.3
(i)Local sales 987.4 484.2 1194.6 1368.9 1337.1 935.1
(ii)Export sales 296.6 331.5 238.1 265.6 460.2 872.2
2.Cost of Sales 1218.4 733.3 1304.6 1566.1 1672.6 1610.2
3.Gross profit 65.6 82.4 128.1 68.4 124.7 197.1
7.Net profit before tax (D5-D6) 28.4 40.4 30.3 -41.7 4.4 9.6
8.Tax provision 14.8 6.3 7.1 8.2 8.8 8.7
2.Retention in business (D7-D8-D9) 3.1 23.6 23.2 -49.9 -4.4 0.9
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 6.2 4.7 3.1 -4.1 0.4 0.7
7.Cash flow ratio F1 as % of F2 27.1 11.3 186.6 -151.3 -205.2 70.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 52.1 15.6 23.4 -19.7 200.0 90.6
15.Return on Equity (D7 as % of A3) 16.5 14.2 11.4 -20.4 2.5 2.9
3.Net profit margin (D7 as % of D1) 2.2 5.0 2.1 -2.6 0.2 0.5
4.Earning per share before tax (D7/No. of ordinary shares) 3.4 2.4 1.8 -2.5 0.3 0.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 1.6 2.0 1.4 -3.0 -0.3 0.1
98
Masood Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 599.6 733.6 764.1 1019.0 1290.7 1620.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 38.8 651.0 59.2 75.6 137.3 321.0
(i)Cash 38.8 651.0 59.2 75.6 137.3 321.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1294.0 1784.1 1891.3 1814.0 1838.7 1727.8
7.Net Current Assets(B4-B5) 94.2 441.8 133.1 -291.4 1262.1 1171.8
C.Fixed Assets:
4.Total assets (B4+C2) 4336.7 5859.2 6519.3 7326.2 8234.5 9621.8
D.Operation:
1.Gross sales 3425.6 3245.4 5006.5 5936.7 7884.8 10946.2
(i)Local sales 213.1 158.9 224.2 247.1 573.7 674.3
(ii)Export sales 3212.5 3086.5 4782.3 5689.6 7311.1 10271.9
2.Cost of Sales 2799.3 2673.3 4116.5 4949.5 6428.8 8851.4
3.Gross profit 626.3 572.1 890.0 987.2 1456.0 2094.8
8.Tax provision 28.9 23.9 52.3 61.1 74.3 0.0
F.Cash Flow Data
99
Mehr Dastagir Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -115.6 -1.6 -2.0 -3.0 110.1 -39.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.3 1.8 1.8 1.8 1.9 0.4
(i)Cash 2.0 1.5 1.5 1.5 1.5 0.0
(ii)Investments 0.3 0.3 0.3 0.3 0.4 0.4
3.Inventories 61.2 22.9 7.0 3.4 13.4 0.0
7.Net Current Assets(B4-B5) -84.2 0.5 0.9 5.5 65.4 52.1
C.Fixed Assets:
4.Total assets (B4+C2) 408.5 628.8 418.4 380.9 336.0 147.5
D.Operation:
1.Gross sales 143.8 322.7 247.9 239.2 230.3 89.0
(i)Local sales 132.2 322.7 247.9 239.2 230.3 89.0
(ii)Export sales 11.6 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 171.2 307.7 235.6 225.3 262.3 111.2
3.Gross profit -27.4 15.0 12.3 13.9 -32.0 -22.2
8.Tax provision 0.0 0.6 1.3 -0.1 1.2 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 84.0 3.6 4.8 -6.8 -89.2 6.0
15.Return on Equity (D7 as % of A3) - 5.6 0.9 0.3 -21.1 -25.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.7 0.5 -0.1 0.0 -4.8 -1.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 19.2 124.4 -23.2 -3.5 -3.7 -61.4
100
Mian Textile Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 146.4 114.1 63.9 -149.0 -85.5 -184.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.1 1.8 1.9 5.6 1.7 0.5
(i)Cash 10.1 1.8 1.9 5.6 1.7 0.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 302.2 276.7 298.5 251.3 114.5 74.9
C.Fixed Assets:
4.Total assets (B4+C2) 1104.7 1147.3 1108.9 989.2 969.3 893.4
D.Operation:
1.Gross sales 970.8 749.5 927.5 748.0 540.6 261.7
(i)Local sales 611.1 444.5 602.0 531.8 468.8 240.2
(ii)Export sales 359.7 305.0 325.5 216.2 71.8 21.5
2.Cost of Sales 913.8 703.8 901.3 746.2 610.8 286.4
3.Gross profit 57.0 45.7 26.2 1.8 -70.2 -24.7
8.Tax provision 5.1 3.5 4.8 3.7 2.7 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 27.6 3.9 -57.8 -116.1 -143.4 -35.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 75.0 100.0 185.7 65.0 3.0 -50.0
101
Mohammad Farooq Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 501.1 811.8 775.5 675.5 596.4 173.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.9 0.7 8.4 0.9 6.2 7.6
(i)Cash 0.9 0.7 8.4 0.9 6.2 7.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 484.9 603.9 664.7 640.5 692.6 432.0
C.Fixed Assets:
4.Total assets (B4+C2) 1696.8 2168.0 2367.1 2335.2 2333.3 1979.1
D.Operation:
1.Gross sales 992.9 722.4 1018.1 1410.3 1229.4 1101.7
(i)Local sales 948.6 99.0 235.7 121.4 94.0 320.4
(ii)Export sales 44.3 623.4 782.4 1288.9 1135.4 781.3
2.Cost of Sales 821.3 599.4 837.7 1242.7 1119.7 1293.8
3.Gross profit 171.6 123.0 180.4 167.6 109.7 -192.1
8.Tax provision 6.9 4.7 8.1 12.6 12.3 8.8
3.Finance from outside the company (E1-E2) 380.3 420.6 -72.3 -61.6 -12.0 -74.2
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -98.3 -100.0 0.0 166.7 16.7 280.4
102
Mubarak Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -12.9 -43.6 -46.1 -48.2 -62.2 -68.4
3.Shareholder's Equity (A1+A2) 14.1 -16.6 -19.1 5.8 -8.2 -14.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 31.4 -9.7 -19.1 7.1 -8.2 -13.1
B.Liquidity:
1.Liquid Assets: 0.9 0.2 0.7 2.5 0.3 0.6
(i)Cash 0.9 0.2 0.7 2.5 0.3 0.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 10.2 4.9 4.2 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 132.2 103.6 105.2 112.5 99.9 87.6
D.Operation:
1.Gross sales 80.2 47.1 76.1 92.1 83.5 51.6
(i)Local sales 74.9 47.1 76.1 92.1 83.5 51.6
(ii)Export sales 5.3 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 92.9 54.8 68.7 79.8 85.6 48.7
3.Gross profit -12.7 -7.7 7.4 12.3 -2.1 2.9
5.Operating profit -42.4 -30.2 0.5 199.4 -8.9 1.9
7.Net profit before tax (D5-D6) -43.0 -31.8 -3.0 195.4 -12.9 -5.1
8.Tax provision 0.4 0.2 0.4 0.5 0.4 0.6
2.Retention in business (D7-D8-D9) -43.4 -32.0 -3.4 194.9 -13.3 -5.7
3.Finance from outside the company (E1-E2) -45.3 -9.1 -6.0 -168.7 -2.0 0.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -38.4 -28.0 1.6 199.6 -8.7 -1.2
5.Return on assets (D7 as % of C4) -32.5 -30.7 -2.9 173.7 -12.9 -5.8
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 52.2 -61.5 -70.7 10.7 -15.2 -26.7
10.Financial expenses as % of operating profit (D6 as % of D5) - - 700.0 2.0 -44.9 368.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - -13.3 0.3 -3.1 -11.8
15.Return on Equity (D7 as % of A3) -305.0 - 0.0 3369.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -53.6 -67.5 -3.9 212.2 -15.4 -9.9
4.Earning per share before tax (D7/No. of ordinary shares) -15.9 -11.8 -1.1 36.2 -2.4 -0.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -16.1 -11.9 -1.3 36.1 -2.5 -1.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -2750.0 -25.8 -90.7 -3390.9 -106.6 -62.5
10.Break-up value of ordinary shares (in rupees) 5.2 -6.1 -7.1 1.1 -1.5 -2.7
103
Mukhtar Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -32.8 -53.4 -43.6 -42.6 -58.0 -87.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.7 0.2 0.2 0.1 0.0 0.0
(i)Cash 4.7 0.2 0.2 0.1 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 12.3 26.6 10.0 12.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 161.1 136.4 151.2 143.7 113.6 81.5
D.Operation:
1.Gross sales 277.6 164.9 300.2 211.1 114.5 0.0
(i)Local sales 277.6 164.9 300.2 211.1 114.5 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 268.1 183.0 289.6 204.0 18.5 0.0
3.Gross profit 9.5 -18.1 10.6 7.1 96.0 0.0
5.Operating profit -146.5 -21.2 5.5 2.7 94.3 -29.2
7.Net profit before tax (D5-D6) -198.5 -21.3 5.5 2.7 93.7 -29.2
8.Tax provision 1.4 0.8 1.5 1.1 0.1 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 55.4 -14.9 15.9 7.6 -8.8 -22.7
5.Return on assets (D7 as % of C4) -123.2 -15.6 3.6 1.9 82.5 -35.8
7.Cash flow ratio F1 as % of F2 -346.9 - 82.4 128.9 -1146.6 99.6
15.Return on Equity (D7 as % of A3) -176.9 -23.3 5.4 2.6 107.7 -50.6
3.Net profit margin (D7 as % of D1) -71.5 -12.9 1.8 1.3 81.8 0.0
4.Earning per share before tax (D7/No. of ordinary shares) -13.7 -1.5 0.4 0.2 6.5 -2.0
104
N.P. Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 212.5 87.1 140.0 130.3 152.9 144.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 180.3 178.2 44.8 35.4 6.6 27.3
(i)Cash 180.3 178.2 44.8 35.4 6.6 27.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 254.7 119.0 276.0 182.4 353.0 290.2
7.Net Current Assets(B4-B5) 89.2 -31.6 34.3 36.1 72.1 63.1
C.Fixed Assets:
4.Total assets (B4+C2) 823.2 709.9 644.7 523.7 646.6 625.6
D.Operation:
1.Gross sales 1130.2 716.2 894.6 967.3 1141.7 1157.0
(i)Local sales 812.3 373.2 740.1 964.6 1141.7 1157.0
(ii)Export sales 317.9 343.0 154.5 2.7 0.0 0.0
2.Cost of Sales 938.8 532.4 757.9 843.8 1024.0 1089.1
3.Gross profit 191.4 183.8 136.7 123.5 117.7 67.9
8.Tax provision 32.6 31.2 25.7 26.5 22.7 2.4
2.Retention in business (D7-D8-D9) 46.0 -122.3 55.8 40.5 -2.2 7.8
3.Finance from outside the company (E1-E2) 31.9 -26.4 -5.5 -50.2 31.8 -23.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 77.6 -100.8 83.1 66.7 22.5 32.4
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 147.5 -1.0 -43.9 43.6 -40.5 -85.1
105
Nadeem Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 211.3 219.6 215.4 165.6 141.1 149.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.5 4.8 2.9 1.4 0.9 8.8
(i)Cash 2.5 4.8 1.5 1.4 0.9 0.9
(ii)Investments 0.0 0.0 1.4 0.0 0.0 7.9
3.Inventories 312.9 332.5 229.1 137.1 376.3 287.0
C.Fixed Assets:
4.Total assets (B4+C2) 876.3 935.6 959.1 883.1 1086.4 895.8
D.Operation:
1.Gross sales 715.6 755.3 1284.5 1633.1 1479.6 1631.6
(i)Local sales 711.2 504.4 681.5 1022.9 948.8 900.2
(ii)Export sales 4.4 250.9 603.0 610.2 530.8 731.4
2.Cost of Sales 156.3 696.7 1182.6 1519.2 1383.6 1472.2
3.Gross profit 559.3 58.6 101.9 113.9 96.0 159.4
8.Tax provision 709.5 3.5 9.7 9.2 7.5 8.1
2.Retention in business (D7-D8-D9) -194.8 -6.5 -2.7 -7.7 -29.4 2.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -162.2 23.1 43.1 44.3 20.0 49.0
6.Self financing ratio (E2 as % of E1) -239.6 -10.6 -9.4 6.4 81.9 -4.8
7.Cash flow ratio F1 as % of F2 -142.4 25.4 57.8 -65.5 148.1 -337.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -16.2 0.5 -0.2 -0.6 -2.4 0.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 23.0 5.5 70.1 27.1 -9.4 10.3
106
Nagina Cotton Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 215.5 612.6 639.3 253.0 217.3 224.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 282.9 145.9 209.6 161.1 161.9 147.7
(i)Cash 167.0 119.3 184.9 8.4 2.0 4.9
(ii)Investments 115.9 26.6 24.7 152.7 159.9 142.8
3.Inventories 114.3 581.1 567.3 185.1 282.3 338.0
C.Fixed Assets:
4.Total assets (B4+C2) 1129.5 2502.7 2655.4 1210.5 1188.0 1288.1
D.Operation:
1.Gross sales 1382.8 2230.5 2813.2 1540.5 1805.9 2136.9
(i)Local sales 1082.8 1714.3 2130.9 1051.0 1290.1 1241.1
(ii)Export sales 300.0 516.2 682.3 489.5 515.8 895.8
2.Cost of Sales 1227.8 1928.5 2465.5 1377.1 1664.5 1941.7
3.Gross profit 155.0 302.0 347.7 163.4 141.4 195.2
8.Tax provision 19.0 25.0 16.2 7.7 9.0 9.6
2.Retention in business (D7-D8-D9) -34.7 91.5 25.0 47.1 3.7 5.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 11.0 48.7 -5.4 -3.9 -3.7
7.Cash flow ratio F1 as % of F2 - 20.0 86.9 -13.9 -181.9 -70.1
107
Nakshbandi Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 270.0 242.6 516.2 -301.3 -100.7 572.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.0 12.2 4.7 6.2 213.7 211.4
(i)Cash 7.0 12.2 4.7 6.2 213.7 211.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 695.3 745.1 695.0 259.2 283.3 264.0
7.Net Current Assets(B4-B5) 2.7 -354.4 -476.7 -1015.3 -548.2 263.5
C.Fixed Assets:
4.Total assets (B4+C2) 2379.9 2424.6 2766.6 2189.3 2188.6 2461.4
D.Operation:
1.Gross sales 1244.7 1369.4 1995.0 1615.3 1278.7 1749.1
(i)Local sales 1037.2 164.0 147.2 249.3 149.9 195.2
(ii)Export sales 207.5 1205.4 1847.8 1366.0 1128.8 1553.9
2.Cost of Sales 1837.9 1194.9 1779.2 1817.1 1166.2 1500.4
3.Gross profit -593.2 174.5 215.8 -201.8 112.5 248.7
5.Operating profit -609.0 65.3 69.3 -336.8 -34.3 61.6
7.Net profit before tax (D5-D6) -772.3 0.2 -75.0 -481.8 -93.0 10.7
8.Tax provision 1802.9 11.5 21.0 16.0 12.8 17.5
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -32.5 0.0 -2.7 -22.0 -4.2 0.4
6.Self financing ratio (E2 as % of E1) -1540.8 - -46.1 87.3 -57.6 -0.7
10.Financial expenses as % of operating profit (D6 as % of D5) - 99.7 208.2 -43.1 -171.1 82.6
1.Dividend cover ratio [(D7 - D8) as % of D9] -4822.5 -3766.7 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -62.0 0.0 -3.8 -29.8 -7.3 0.6
4.Earning per share before tax (D7/No. of ordinary shares) -31.9 0.0 -2.2 -14.2 -2.7 0.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 1081.5 -100.0 0.0 545.5 -81.0 -103.7
108
Nazir Cotton Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -266.5 -310.7 -223.6 -319.8 -326.3 -328.6
3.Shareholder's Equity (A1+A2) -86.5 -80.7 6.4 -89.8 -96.3 -98.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -32.6 26.0 80.9 -19.6 -35.8 -38.1
B.Liquidity:
1.Liquid Assets: 12.8 3.6 1.2 1.2 0.8 1.0
(i)Cash 12.8 1.9 0.6 0.3 0.2 0.2
(ii)Investments 0.0 1.7 0.6 0.9 0.6 0.8
3.Inventories 9.1 12.1 15.1 1.3 1.1 1.1
C.Fixed Assets:
4.Total assets (B4+C2) 154.5 144.3 146.0 133.1 129.4 123.6
D.Operation:
1.Gross sales 204.9 179.6 195.7 57.3 0.2 0.0
(i)Local sales 204.9 179.6 195.7 57.3 0.2 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 218.7 191.0 207.3 74.0 0.2 0.0
3.Gross profit -13.8 -11.4 -11.6 -16.7 0.0 0.0
8.Tax provision 0.9 0.8 1.0 -15.8 0.0 0.2
3.Finance from outside the company (E1-E2) -30.5 45.4 43.8 -97.1 -10.1 0.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -23.1 17.7 15.5 0.6 -2.5 0.7
2.Depreciation for the year plus changes in capital employed (C3+E1) -53.6 63.1 59.3 -96.5 -12.6 0.9
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -48.1 -35.1 2.8 -39.0 -41.9 -42.9
3.Net profit margin (D7 as % of D1) -13.8 7.8 6.2 -33.5 -3050.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -19.8 -12.3 9.0 -70.7 -99.7 -100.0
10.Break-up value of ordinary shares (in rupees) -4.8 -3.5 0.3 -3.9 -4.2 -4.3
109
Nina Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 544.3 453.9 646.8 1084.7 1084.7 1084.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 17.5 60.3 7.2 2.1 2.1 2.1
(i)Cash 17.5 60.3 7.2 2.1 2.1 2.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 799.4 1267.5 1666.9 1355.2 1355.2 1355.2
7.Net Current Assets(B4-B5) 18.5 -99.3 39.8 738.4 738.4 738.4
C.Fixed Assets:
4.Total assets (B4+C2) 3196.6 3217.1 3562.7 4516.8 4516.8 4516.8
D.Operation:
1.Gross sales 1216.2 1125.0 1546.6 1880.7 1880.7 1880.7
(i)Local sales 170.7 210.8 186.4 108.4 108.4 108.4
(ii)Export sales 1045.5 914.2 1360.2 1772.3 1772.3 1772.3
2.Cost of Sales 1026.9 903.5 1224.1 1507.1 1507.1 1507.1
3.Gross profit 189.3 221.5 322.5 373.6 373.6 373.6
8.Tax provision 9.2 8.4 15.5 17.7 17.7 17.7
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 434.5 -226.4 42.3 1125.7 0.0 0.0
3.Finance from outside the company (E1-E2) 497.1 -172.7 58.8 1106.4 -19.3 -19.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -1.7 -1.4 0.0 0.8 0.8 0.8
15.Return on Equity (D7 as % of A3) -6.8 -6.5 -0.1 2.8 2.8 2.8
4.Earning per share before tax (D7/No. of ordinary shares) -2.2 -1.9 0.0 1.5 1.5 1.5
110
Nishat (Chunian) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1443.6 1992.5 2036.8 1934.2 1848.2 1860.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 20.4 43.6 10.9 60.7 229.9 1467.3
(i)Cash 20.4 37.4 10.9 60.7 18.2 29.4
(ii)Investments 0.0 6.2 0.0 0.0 211.7 1437.9
3.Inventories 688.7 1330.4 1572.8 1799.9 2447.5 2183.1
7.Net Current Assets(B4-B5) 166.7 -321.2 -701.6 -873.9 -1068.4 357.0
C.Fixed Assets:
4.Total assets (B4+C2) 4358.6 8247.7 9465.1 9755.3 10838.1 12015.8
D.Operation:
1.Gross sales 6688.7 5497.4 6550.8 7659.3 9138.3 9964.5
(i)Local sales 746.4 558.4 1028.1 1400.9 3250.7 3664.1
(ii)Export sales 5942.3 4939.0 5522.7 6258.4 5887.6 6300.4
2.Cost of Sales 5719.8 4272.2 5382.3 6702.1 8097.4 8473.4
3.Gross profit 968.9 1225.2 1168.5 957.2 1040.9 1491.1
8.Tax provision 71.0 62.0 90.0 101.0 58.0 65.0
2.Retention in business (D7-D8-D9) 559.4 642.6 138.0 -1.1 4.0 103.3
F.Cash Flow Data
111
Nishat Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 6627.5 10466.9 19659.8 28359.6 24894.2 16905.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4532.3 6808.0 15193.5 15536.1 21901.8 13519.8
(i)Cash 615.4 521.0 50.3 69.6 76.5 111.5
(ii)Investments 3916.9 6287.0 15143.2 15466.5 21825.3 13408.3
3.Inventories 1517.1 3322.2 3003.2 3106.4 4163.2 4092.5
9.Net liquid assets (B1-B5) -3164.5 554.7 8141.9 7886.7 9438.5 3672.3
C.Fixed Assets:
4.Total assets (B4+C2) 18171.9 21031.0 31179.5 39380.6 40277.3 31512.6
D.Operation:
1.Gross sales 15617.3 11572.1 16661.4 17153.2 19589.8 23870.3
(i)Local sales 3273.4 2093.5 2721.6 2766.1 4414.3 5156.4
(ii)Export sales 12343.9 9478.6 13939.8 14387.1 15175.5 18713.9
2.Cost of Sales 13683.3 9437.3 13945.7 14308.3 16778.1 19518.8
3.Gross profit 1934.0 2134.8 2715.7 2844.9 2811.7 4351.5
8.Tax provision 154.4 166.0 201.2 220.8 261.1 293.5
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 64.4 55.4 5.2 -5.8 236.0 -83.3
112
Olympia Spinning & Weaving Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 310.3 464.5 582.5 653.4 812.8 647.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 19.1 17.0 6.1 6.9 46.9 46.4
(i)Cash 19.1 17.0 6.1 6.9 2.2 1.7
(ii)Investments 0.0 0.0 0.0 0.0 44.7 44.7
3.Inventories 604.6 528.9 466.3 484.7 408.8 416.0
C.Fixed Assets:
4.Total assets (B4+C2) 1785.9 2113.3 2220.7 2254.8 2451.7 2790.0
D.Operation:
1.Gross sales 1257.8 1258.6 1907.0 2258.9 2773.0 2353.0
(i)Local sales 943.9 678.1 521.0 638.6 1365.2 1077.0
(ii)Export sales 313.9 580.5 1386.0 1620.3 1407.8 1276.0
2.Cost of Sales 1201.1 1132.5 1701.0 2046.1 2552.7 2569.5
3.Gross profit 56.7 126.1 206.0 212.8 220.3 -216.5
8.Tax provision 6.2 9.0 20.7 24.0 14.3 12.4
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -1.4 0.6 0.9 -1.0 0.0 -16.8
15.Return on Equity (D7 as % of A3) -7.7 2.8 3.3 -2.8 0.0 -61.2
3.Net profit margin (D7 as % of D1) -2.0 1.1 1.0 -1.0 0.0 -20.0
4.Earning per share before tax (D7/No. of ordinary shares) -10.7 5.7 8.3 -1.8 0.0 -39.2
113
Olympia Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -72.8 -66.6 -91.2 -105.5 -145.7 -198.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 71.5 80.5 32.5 198.0 -27.5 -90.6
B.Liquidity:
1.Liquid Assets: 8.0 4.6 7.1 6.3 5.5 0.6
(i)Cash 8.0 4.6 7.1 6.3 5.5 0.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 91.2 153.7 73.5 64.5 12.8 5.7
C.Fixed Assets:
4.Total assets (B4+C2) 338.1 416.0 346.6 336.3 279.9 174.7
D.Operation:
1.Gross sales 664.6 483.0 648.2 668.3 638.6 245.4
(i)Local sales 664.6 483.0 648.2 668.3 638.6 245.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 617.9 452.0 628.2 659.2 652.6 280.8
3.Gross profit 46.7 31.0 20.0 9.1 -14.0 -35.4
8.Tax provision 3.3 2.4 3.2 -3.3 3.2 0.0
F.Cash Flow Data
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 12.2 27.0 -35.2 15.6 -9.4 0.0
15.Return on Equity (D7 as % of A3) 76.7 21.5 -54.2 -848.0 0.0 0.0
114
Paramount Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 228.0 322.5 784.0 606.1 619.8 819.6
5.Debentures 499.8 283.7 180.6 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 139.9 138.7 558.0 470.3 495.4 498.7
(i)Cash 54.8 57.7 38.4 48.9 74.6 60.1
(ii)Investments 85.1 81.0 519.6 421.4 420.8 438.6
3.Inventories 277.5 462.3 523.8 702.4 1192.1 1259.5
C.Fixed Assets:
4.Total assets (B4+C2) 1325.6 1719.8 2250.6 2431.4 2862.0 2950.6
D.Operation:
1.Gross sales 1278.2 1110.5 1658.7 1852.3 2549.1 2772.2
(i)Local sales 426.4 573.4 569.9 500.2 1091.6 1050.2
(ii)Export sales 851.8 537.1 1088.8 1352.1 1457.5 1722.0
2.Cost of Sales 1180.1 976.9 1388.5 1548.2 2195.2 2363.1
3.Gross profit 98.1 133.6 270.2 304.1 353.9 409.1
8.Tax provision 10.7 6.2 15.0 19.0 14.6 17.4
F.Cash Flow Data
115
Premium Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 108.4 226.9 162.5 157.0 162.5 159.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.3 1.4 1.1 2.5 2.8 2.2
(i)Cash 2.3 1.4 1.1 2.5 2.8 2.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 319.2 609.2 315.8 238.9 347.6 323.3
C.Fixed Assets:
4.Total assets (B4+C2) 1117.4 1600.0 1233.1 1252.8 1548.3 1408.8
D.Operation:
1.Gross sales 1044.2 996.0 1471.2 1499.6 1924.0 2115.1
(i)Local sales 1010.8 971.5 1471.2 1484.6 1897.4 2093.8
(ii)Export sales 33.4 24.5 0.0 15.0 26.6 21.3
2.Cost of Sales 963.5 875.5 1279.2 1347.9 1727.2 1899.2
3.Gross profit 80.7 120.5 192.0 151.7 196.8 215.9
8.Tax provision 4.8 4.4 7.3 7.4 10.0 0.3
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -24.5 64.9 -3.3 -59.3 54.2 -89.2
116
Prosperity Weaving Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 178.0 169.3 226.0 213.9 149.5 226.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 51.7 60.4 2.6 43.7 9.0 6.3
(i)Cash 1.7 53.4 2.6 43.7 9.0 6.3
(ii)Investments 50.0 7.0 0.0 0.0 0.0 0.0
3.Inventories 104.4 190.7 170.3 265.0 296.8 154.2
C.Fixed Assets:
4.Total assets (B4+C2) 1439.9 1492.3 1422.8 1572.8 1557.3 1547.7
D.Operation:
1.Gross sales 1873.3 1798.5 2699.4 2702.6 2737.6 3634.5
(i)Local sales 571.8 828.8 2699.4 1127.5 1379.1 1746.8
(ii)Export sales 1301.5 969.7 0.0 1575.1 1358.5 1887.7
2.Cost of Sales 1764.5 1681.5 2497.6 2542.7 2602.6 3265.7
3.Gross profit 108.8 117.0 201.8 159.9 135.0 368.8
8.Tax provision 14.8 9.9 17.2 19.4 13.9 18.9
2.Retention in business (D7-D8-D9) 27.7 -13.1 32.1 -4.5 -67.9 52.1
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 7.3 -32.4 -62.1 -7.8 -61.5 -162.3
117
Quality Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 52.1 197.4 240.1 231.3 229.0 227.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.0 1.8 1.6 0.6 1.0 1.9
(i)Cash 2.0 1.8 1.6 0.6 1.0 1.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 106.8 184.3 224.7 179.7 228.4 180.5
C.Fixed Assets:
4.Total assets (B4+C2) 558.2 725.4 936.3 850.3 898.3 945.1
D.Operation:
1.Gross sales 865.4 761.6 888.4 953.9 1033.0 1220.9
(i)Local sales 421.9 624.0 888.4 686.2 853.3 933.0
(ii)Export sales 443.5 137.6 0.0 267.7 179.7 287.9
2.Cost of Sales 943.8 665.1 789.0 866.5 938.0 1106.4
3.Gross profit -78.4 96.5 99.4 87.4 95.0 114.5
7.Net profit before tax (D5-D6) -141.9 51.1 32.4 14.5 21.5 10.9
8.Tax provision 8.2 4.5 5.7 4.8 5.2 2.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -25.4 7.0 3.5 1.7 2.4 1.2
6.Self financing ratio (E2 as % of E1) - 37.3 98.2 43.5 72.8 -10.5
15.Return on Equity (D7 as % of A3) -67.0 14.3 8.1 3.7 5.5 2.8
3.Net profit margin (D7 as % of D1) -16.4 6.7 3.6 1.5 2.1 0.9
4.Earning per share before tax (D7/No. of ordinary shares) -8.9 3.2 2.0 0.9 1.3 0.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -9.4 2.9 1.7 0.6 1.0 0.5
118
Quetta Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 402.1 618.7 669.5 701.4 382.7 2018.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 1385.0
B.Liquidity:
1.Liquid Assets: 299.4 66.7 90.1 7.7 135.2 3.1
(i)Cash 12.8 9.3 6.7 5.7 2.9 3.1
(ii)Investments 286.6 57.4 83.4 2.0 132.3 0.0
3.Inventories 646.6 1109.0 1210.4 1104.0 2074.6 2229.2
C.Fixed Assets:
4.Total assets (B4+C2) 3169.5 4389.8 5177.6 5661.1 7513.3 8912.1
D.Operation:
1.Gross sales 4115.1 2859.9 4735.9 5093.4 6015.5 7200.8
(i)Local sales 1540.7 757.2 2130.6 2467.4 2696.6 3601.0
(ii)Export sales 2574.4 2102.7 2605.3 2626.0 3318.9 3599.8
2.Cost of Sales 3865.7 2608.0 4339.9 4592.9 5421.7 6177.2
3.Gross profit 249.4 251.9 396.0 500.5 593.8 1023.6
8.Tax provision 32.3 25.5 38.7 37.3 33.3 37.3
F.Cash Flow Data
119
Ravi Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -40.7 117.5 75.8 -65.9 72.8 -9.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.6 0.1 0.4 0.2 3.9 2.1
(i)Cash 2.6 0.1 0.4 0.2 3.9 2.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 47.4 89.7 78.6 0.6 23.9 51.2
C.Fixed Assets:
4.Total assets (B4+C2) 216.0 386.0 389.4 201.3 382.9 437.1
D.Operation:
1.Gross sales 521.3 361.2 448.2 282.7 12.6 316.8
(i)Local sales 521.3 361.2 448.2 282.7 12.6 316.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 501.7 361.1 443.4 301.4 27.2 347.1
3.Gross profit 19.6 0.1 4.8 -18.7 -14.6 -30.3
8.Tax provision 2.3 1.6 2.2 1.4 0.1 0.0
3.Finance from outside the company (E1-E2) -3.4 170.3 -38.2 -53.8 111.9 64.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 6.4 -11.0 -18.4 -51.5 16.6 17.8
6.Self financing ratio (E2 as % of E1) - -12.5 45.7 54.8 3.9 0.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -109.1 733.3 68.0 116.7 -107.7 -100.0
120
Redco Textiles Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 298.6 637.8 637.8 319.3 49.2 42.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.2 0.2 0.8 25.4 3.3
(i)Cash 0.2 0.2 0.2 0.7 22.6 3.3
(ii)Investments 0.0 0.0 0.0 0.1 2.8 0.0
3.Inventories 207.0 164.1 164.1 186.8 209.4 204.1
C.Fixed Assets:
4.Total assets (B4+C2) 1284.5 1244.3 1244.3 1390.5 1432.7 1425.7
D.Operation:
1.Gross sales 622.0 493.8 493.8 742.5 1036.3 1035.9
(i)Local sales 426.8 384.8 384.8 627.2 961.7 999.3
(ii)Export sales 195.2 109.0 109.0 115.3 74.6 36.6
2.Cost of Sales 613.3 443.3 443.3 675.2 1029.5 994.4
3.Gross profit 8.7 50.5 50.5 67.3 6.8 41.5
5.Operating profit -7.0 57.9 57.9 36.3 -14.3 25.0
8.Tax provision 2.8 2.3 2.3 3.1 4.8 0.4
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -1.2 3.9 3.9 0.0 -3.0 -0.1
10.Financial expenses as % of operating profit (D6 as % of D5) - 17.1 17.1 98.6 -204.9 107.6
15.Return on Equity (D7 as % of A3) -3.0 5.6 5.6 0.1 -8.0 -0.4
3.Net profit margin (D7 as % of D1) -2.5 9.7 9.7 0.1 -4.2 -0.2
4.Earning per share before tax (D7/No. of ordinary shares) -0.7 2.3 2.3 0.0 -0.9 0.0
121
Regent Textile Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -48.8 104.6 -29.1 -14.4 -13.9 -32.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.4 1.3 6.3 8.2 6.4
(i)Cash 0.2 0.4 1.3 1.7 3.0 0.5
(ii)Investments 0.0 0.0 0.0 4.6 5.2 5.9
3.Inventories 14.9 19.2 17.7 30.2 27.4 3.4
C.Fixed Assets:
4.Total assets (B4+C2) 185.7 205.3 233.4 262.9 268.2 234.9
D.Operation:
1.Gross sales 78.1 71.7 202.2 233.5 281.4 274.8
(i)Local sales 78.1 71.7 202.2 233.5 281.4 274.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 79.8 66.0 181.7 216.6 265.1 283.1
3.Gross profit -1.7 5.7 20.5 16.9 16.3 -8.3
5.Operating profit -2.2 5.1 19.0 15.9 14.3 -10.3
8.Tax provision 0.3 0.3 1.0 1.2 1.4 0.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -6.4 157.6 -124.6 13.6 -3.6 -18.4
2.Retention in business (D7-D8-D9) -3.0 4.5 12.9 11.8 2.1 -21.1
F.Cash Flow Data
10.Financial expenses as % of operating profit (D6 as % of D5) - 5.9 14.2 18.2 75.5 -103.9
15.Return on Equity (D7 as % of A3) - 3.2 88.1 39.2 10.4 -135.5
122
Reliance Cotton Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 247.7 289.9 291.6 345.9 345.9 532.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 15.1 9.6 3.7 7.0 7.0 126.6
(i)Cash 15.1 9.6 3.7 7.0 7.0 8.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 117.8
3.Inventories 197.4 314.8 303.7 314.6 314.6 594.5
C.Fixed Assets:
4.Total assets (B4+C2) 787.5 1094.1 1056.3 1054.0 1054.0 1480.0
D.Operation:
1.Gross sales 863.0 777.4 1154.8 1341.2 1341.2 1545.0
(i)Local sales 190.1 181.1 205.8 245.4 245.4 306.5
(ii)Export sales 672.9 596.3 949.0 1095.8 1095.8 1238.5
2.Cost of Sales 790.2 677.4 1043.2 1182.4 1182.4 1232.4
3.Gross profit 72.8 100.0 111.6 158.8 158.8 312.6
8.Tax provision 10.2 7.3 9.6 16.4 16.4 14.5
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -20.4 34.9 -39.7 108.6 0.0 119.2
123
Reliance Weaving Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 459.8 510.1 590.6 569.8 459.4 734.7
5.Debentures 0.0 42.9 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 51.6 8.3 103.1 111.8 75.7 197.9
(i)Cash 51.6 8.3 32.6 41.8 75.7 18.2
(ii)Investments 0.0 0.0 70.5 70.0 0.0 179.7
3.Inventories 557.0 787.0 746.6 772.4 1343.1 1124.6
C.Fixed Assets:
4.Total assets (B4+C2) 2045.4 3392.7 3345.3 3429.0 4119.1 4125.9
D.Operation:
1.Gross sales 2781.6 2077.6 3150.6 3401.0 3509.6 4337.5
(i)Local sales 544.7 764.4 1367.6 1070.2 867.2 1154.0
(ii)Export sales 2236.9 1313.2 1783.0 2330.8 2642.4 3183.5
2.Cost of Sales 2493.8 1819.8 2728.0 3054.6 3193.8 3665.2
3.Gross profit 287.8 257.8 422.6 346.4 315.8 672.3
8.Tax provision 22.0 10.5 17.9 15.4 26.4 31.8
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 11.6 -29.9 7.0 22.6 -51.8
7.Cash flow ratio F1 as % of F2 228.2 21.5 -134.5 7.5 -22.4 -24.5
124
Resham Textile Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 194.6 214.1 174.4 82.7 35.1 20.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 25.1 0.7 2.8 5.0 4.0 5.6
(i)Cash 25.1 0.7 2.8 5.0 4.0 5.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 98.6 209.8 171.6 186.5 226.3 289.0
C.Fixed Assets:
4.Total assets (B4+C2) 569.8 992.5 1048.1 1040.2 1169.1 1180.8
D.Operation:
1.Gross sales 919.6 640.5 977.2 1204.1 1302.2 1542.1
(i)Local sales 701.1 262.3 977.2 1160.8 1297.1 1520.3
(ii)Export sales 218.5 378.2 0.0 43.3 5.1 21.8
2.Cost of Sales 878.0 580.7 925.0 1157.3 1266.0 1419.1
3.Gross profit 41.6 59.8 52.2 46.8 36.2 123.0
8.Tax provision 6.2 1.4 5.2 6.3 6.5 0.2
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -400.0 0.0 -133.3 233.3 50.0 -73.3
125
Ruby Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 280.0 276.4 249.4 165.6 233.6 133.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 36.8 16.7 3.0 15.5 2.5 1.0
(i)Cash 36.8 16.7 3.0 15.5 2.5 1.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 118.4 102.3 146.4 93.8 198.7 223.7
C.Fixed Assets:
4.Total assets (B4+C2) 773.1 741.0 882.5 1273.0 1508.7 1470.7
D.Operation:
1.Gross sales 618.6 508.8 643.1 896.8 1081.1 856.6
(i)Local sales 518.7 430.8 551.7 741.2 899.3 800.1
(ii)Export sales 99.9 78.0 91.4 155.6 181.8 56.5
2.Cost of Sales 579.4 479.0 613.1 870.1 1029.1 830.1
3.Gross profit 39.2 29.8 30.0 26.7 52.0 26.5
8.Tax provision 3.0 2.6 3.2 4.5 5.4 0.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 1.7 - -10.1 -71.9 -26.8 -311.6
7.Cash flow ratio F1 as % of F2 5.5 - 4.9 -24.3 -4.7 -67.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 1500.0 -62.5 -233.3 262.5 -55.2 107.7
126
Safa Textiles Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -6.9 -2.6 0.2 9.6 8.0 11.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.2 0.4 0.3 4.3 1.1 5.6
(i)Cash 2.2 0.4 0.3 4.3 1.1 5.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 6.5 14.2 19.9 69.9 68.6 52.5
7.Net Current Assets(B4-B5) 10.6 1.3 -0.5 -1.7 -12.0 1.1
C.Fixed Assets:
4.Total assets (B4+C2) 39.8 64.1 73.2 133.7 148.2 176.6
D.Operation:
1.Gross sales 158.5 180.5 227.8 265.7 367.4 395.3
(i)Local sales 0.0 0.0 17.1 0.0 0.0 2.0
(ii)Export sales 158.5 180.5 210.7 265.7 367.4 393.3
2.Cost of Sales 138.3 156.5 196.5 223.9 328.3 350.2
3.Gross profit 20.2 24.0 31.3 41.8 39.1 45.1
8.Tax provision 1.2 1.4 2.1 2.7 3.5 3.9
F.Cash Flow Data
127
Saif Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 613.6 502.5 710.7 749.3 709.4 235.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 25.6 26.9 45.1 3.2 4.9 13.2
(i)Cash 7.0 1.9 15.0 3.2 4.9 3.2
(ii)Investments 18.6 25.0 30.1 0.0 0.0 10.0
3.Inventories 600.4 797.4 955.6 933.6 911.5 685.8
C.Fixed Assets:
4.Total assets (B4+C2) 2744.9 3045.9 3586.1 4181.5 4292.5 3999.8
D.Operation:
1.Gross sales 1943.6 2223.7 3473.3 3813.0 4489.2 3727.8
(i)Local sales 1899.3 1923.6 2685.1 2793.7 3125.7 3051.1
(ii)Export sales 44.3 300.1 788.2 1019.3 1363.5 676.7
2.Cost of Sales 1781.4 2033.8 3127.1 3423.6 4048.8 3616.5
3.Gross profit 162.2 189.9 346.2 389.4 440.4 111.3
8.Tax provision 3.1 14.2 17.3 19.0 22.4 8.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 915.4 -83.5 171.6 202.2 -226.9 -187.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 3.8 - 12.2 -27.2 44.9 373.5
1.Dividend cover ratio [(D7 - D8) as % of D9] 284.1 122.8 247.9 -287.3 0.0 0.0
128
Saitex Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -390.8 -253.7 -286.3 -74.0 -74.2 -74.2
3.Shareholder's Equity (A1+A2) -316.8 -179.7 -212.3 0.0 -0.2 -0.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -170.5 -36.5 -212.3 0.2 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.1 0.2 0.2 0.1 0.1
(i)Cash 0.2 0.1 0.2 0.2 0.1 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.9 0.0 0.0 0.0 0.0
7.Net Current Assets(B4-B5) -323.7 -181.1 -212.3 0.2 0.0 0.0
9.Net liquid assets (B1-B5) -334.1 -190.8 -332.4 0.1 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 163.8 154.3 120.3 0.3 0.1 0.1
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 8.7 0.0 0.0 0.0 0.0
3.Gross profit 0.0 -8.7 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -11.1 141.7 -175.8 212.5 -0.2 0.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -428.1 -242.8 -286.9 0.0 -0.3 -0.3
10.Financial expenses as % of operating profit (D6 as % of D5) - 644.4 -109.0 0.0 0.0 0.0
129
Sajjad Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -12.2 3.9 -8.2 -71.5 -163.7 -169.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.6 2.1 7.1 0.7 4.6 1.8
(i)Cash 6.6 2.1 7.1 0.7 4.6 1.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 49.0 92.0 104.0 101.1 123.7 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 462.6 508.2 570.0 575.6 589.3 395.6
D.Operation:
1.Gross sales 666.1 486.1 642.1 757.0 789.5 301.1
(i)Local sales 510.4 368.9 456.3 386.0 572.0 231.3
(ii)Export sales 155.7 117.2 185.8 371.0 217.5 69.8
2.Cost of Sales 651.2 436.3 605.5 700.6 778.7 305.5
3.Gross profit 14.9 49.8 36.6 56.4 10.8 -4.4
8.Tax provision 18.2 3.1 3.2 3.7 4.0 1.5
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -13.7 - 3.3 -6.2 -166.8 38.8
130
Saleem Denim Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -196.6 -210.1 -23.6 -23.6 -23.6 -84.9
3.Shareholder's Equity (A1+A2) -157.6 -171.1 15.4 15.4 15.4 -45.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -146.2 -161.8 33.4 33.4 33.4 -45.9
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.0 0.0 0.0
(i)Cash 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 5.2 7.4 5.2 5.2 5.2 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 107.7 104.0 98.5 98.5 98.5 27.8
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -119.3 -15.6 195.2 0.0 0.0 -79.3
3.Finance from outside the company (E1-E2) -100.2 -2.2 7.6 -187.6 -187.6 -77.9
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -114.1 -11.9 199.9 4.7 4.7 -78.3
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -404.1 -438.7 39.5 39.5 39.5 -117.7
10.Break-up value of ordinary shares (in rupees) -40.4 -43.9 3.9 3.9 3.9 -11.8
131
Salfi Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 423.6 716.0 779.6 727.0 1125.1 1157.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 50.6 48.8 108.6 148.5 132.4 304.5
(i)Cash 19.3 15.4 5.5 32.7 18.6 21.7
(ii)Investments 31.3 33.4 103.1 115.8 113.8 282.8
3.Inventories 177.8 286.8 534.3 238.2 813.2 700.5
7.Net Current Assets(B4-B5) 38.8 -16.9 6.8 220.4 -584.0 -26.2
C.Fixed Assets:
4.Total assets (B4+C2) 932.5 1401.7 2259.4 2047.4 3286.1 3130.6
D.Operation:
1.Gross sales 1123.3 828.0 824.7 1669.5 1942.7 1901.7
(i)Local sales 1123.3 828.0 824.7 1349.5 1646.7 1653.5
(ii)Export sales 0.0 0.0 0.0 320.0 296.0 248.2
2.Cost of Sales 1048.7 779.5 733.4 1508.7 1689.3 1707.5
3.Gross profit 74.6 48.5 91.3 160.8 253.4 194.2
8.Tax provision 9.2 3.9 4.6 8.5 10.4 2.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -5.3 301.2 515.7 188.5 -241.1 492.8
2.Retention in business (D7-D8-D9) 10.9 -6.3 -0.5 -32.9 14.7 -237.4
3.Finance from outside the company (E1-E2) -16.2 307.5 516.2 221.4 -255.8 730.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -2.1 -0.1 -17.5 -6.1 -48.2
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 45.8 650.0 62.2 -34.8 41.4 -1.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.6 -1.0 0.8 -9.9 4.4 -71.1
132
Sally Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -178.2 -187.0 -172.6 -212.9 -286.2 -70.8
3.Shareholder's Equity (A1+A2) -90.4 -99.2 -84.8 -125.1 -198.4 17.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 113.6 71.5 38.6 8.5 -82.1 100.5
B.Liquidity:
1.Liquid Assets: 3.0 5.2 1.2 12.1 12.9 2.2
(i)Cash 3.0 5.2 1.2 12.1 12.9 2.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 99.2 228.7 208.5 126.3 398.3 301.4
C.Fixed Assets:
4.Total assets (B4+C2) 509.5 680.3 727.7 731.7 1032.1 917.5
D.Operation:
1.Gross sales 655.3 518.6 798.1 883.7 1035.6 1180.7
(i)Local sales 655.3 518.6 798.1 882.5 1024.4 1154.4
(ii)Export sales 0.0 0.0 0.0 1.2 11.2 26.3
2.Cost of Sales 602.9 472.0 721.9 828.4 1011.1 1111.4
3.Gross profit 52.4 46.6 76.2 55.3 24.5 69.3
8.Tax provision 3.3 2.6 4.0 4.4 5.4 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 36.4 - -245.1 -276.0 61.1 15.6
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -103.0 -113.0 -96.6 -142.5 -226.0 19.4
10.Break-up value of ordinary shares (in rupees) -10.3 -11.3 -9.7 -14.2 -22.6 1.9
133
Salman Noman Enterprises Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 128.5 222.0 121.9 135.7 242.7 219.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 3.8 0.7 0.7 4.2 7.6
(i)Cash 1.4 3.8 0.7 0.7 4.2 7.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 51.8 56.6 68.1 59.8 94.0 150.3
C.Fixed Assets:
4.Total assets (B4+C2) 381.9 372.8 373.3 437.5 795.7 901.4
D.Operation:
1.Gross sales 499.9 384.7 474.0 501.9 584.8 868.4
(i)Local sales 499.9 384.7 474.0 501.9 584.8 868.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 487.3 364.8 452.6 474.2 563.4 846.2
3.Gross profit 12.6 19.9 21.4 27.7 21.4 22.2
8.Tax provision 2.4 1.9 2.3 2.5 1.8 0.0
2.Retention in business (D7-D8-D9) -2.6 7.5 -0.5 1.7 1.1 -82.2
F.Cash Flow Data
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.7 1.9 -0.1 0.4 0.3 -20.7
134
Samin Textiles Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 26.5 129.3 265.5 128.1 921.4 862.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 46.2 74.6 88.3 121.8 22.7 1086.9
(i)Cash 9.6 38.0 14.3 11.6 22.7 8.5
(ii)Investments 36.6 36.6 74.0 110.2 0.0 1078.4
3.Inventories 359.0 402.8 390.0 389.7 311.1 345.2
C.Fixed Assets:
4.Total assets (B4+C2) 1311.1 1422.2 1440.2 1527.7 2604.7 2319.4
D.Operation:
1.Gross sales 1609.7 1361.6 1634.3 1687.5 1613.6 1585.8
(i)Local sales 298.5 623.4 686.7 708.3 827.2 739.7
(ii)Export sales 1311.2 738.2 947.6 979.2 786.4 846.1
2.Cost of Sales 1491.4 1235.6 1443.5 1536.1 1565.7 1474.1
3.Gross profit 118.3 126.0 190.8 151.4 47.9 111.7
8.Tax provision 16.4 12.8 12.5 12.8 11.3 9.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -102.2 143.0 84.1 -283.7 1138.2 -382.5
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -3.0 -1.2 2.9 2.1 -0.5 -3.0
6.Self financing ratio (E2 as % of E1) - -21.0 35.3 -6.6 -2.0 20.5
15.Return on Equity (D7 as % of A3) -24.5 -6.5 10.6 12.0 -1.1 -7.0
3.Net profit margin (D7 as % of D1) -2.4 -1.3 2.6 1.9 -0.7 -4.4
4.Earning per share before tax (D7/No. of ordinary shares) -2.9 -1.3 3.2 2.4 -0.9 -5.2
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -4.2 -2.2 2.2 1.4 -1.7 -5.9
135
Sana Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 148.9 152.2 158.4 0.0 137.7 155.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.5 5.3 7.5 15.3 4.4 20.3
(i)Cash 2.5 5.3 7.5 15.3 4.4 20.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 64.9 76.3 57.5 69.2 78.8 83.3
7.Net Current Assets(B4-B5) 88.1 95.2 87.8 -99.1 25.7 41.5
C.Fixed Assets:
4.Total assets (B4+C2) 282.3 305.0 336.8 355.3 359.6 376.2
D.Operation:
1.Gross sales 492.3 336.7 481.6 382.8 385.7 506.1
(i)Local sales 492.3 336.7 481.6 382.8 385.7 506.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 447.9 316.8 427.9 411.1 348.0 437.2
3.Gross profit 44.4 19.9 53.7 -28.3 37.7 68.9
5.Operating profit 28.9 15.0 39.4 -40.6 23.7 54.4
8.Tax provision 10.7 3.4 12.9 2.1 2.2 0.0
2.Retention in business (D7-D8-D9) 7.0 -0.2 6.6 -56.9 -0.5 16.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 21.7 11.6 23.6 -36.7 22.9 42.0
6.Self financing ratio (E2 as % of E1) 184.2 -1.5 21.6 36.5 -0.4 109.9
10.Financial expenses as % of operating profit (D6 as % of D5) 4.2 12.0 18.8 -35.0 69.6 33.8
136
Sapphire Fibres Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2264.6 2822.7 4857.4 7453.9 6530.6 5011.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 700.3 1094.1 3194.8 5583.0 5570.4 4196.9
(i)Cash 62.0 42.0 35.6 28.0 38.3 80.0
(ii)Investments 638.3 1052.1 3159.2 5555.0 5532.1 4116.9
3.Inventories 807.0 1489.2 1291.0 1322.7 2082.3 1894.0
9.Net liquid assets (B1-B5) -831.3 -1154.6 720.8 2840.5 1816.1 1045.2
C.Fixed Assets:
4.Total assets (B4+C2) 4345.8 5717.0 8009.0 10999.1 11542.6 10167.2
D.Operation:
1.Gross sales 4350.3 3369.6 4811.4 5417.9 6511.5 7452.4
(i)Local sales 1024.3 984.4 4811.4 1496.4 1570.0 1725.5
(ii)Export sales 3326.0 2385.2 0.0 3921.5 4941.5 5726.9
2.Cost of Sales 3966.4 2941.5 4222.4 4689.0 5420.6 6078.1
3.Gross profit 383.9 428.1 589.0 728.9 1090.9 1374.3
8.Tax provision 52.6 36.1 49.9 75.8 75.5 86.4
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -3.9 10.3 12.4 73.5 136.0 -64.8
137
Sapphire Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2213.3 2919.5 3690.4 5816.1 5375.7 4251.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 635.3 904.6 1959.7 453.9 207.6 2284.5
(i)Cash 56.5 41.3 33.3 53.8 66.9 87.2
(ii)Investments 578.8 863.3 1926.4 400.1 140.7 2197.3
3.Inventories 1249.6 1860.9 1908.7 1949.1 3278.7 2593.8
C.Fixed Assets:
4.Total assets (B4+C2) 5800.6 7314.4 9215.6 11124.1 12323.3 10182.0
D.Operation:
1.Gross sales 7796.6 5560.2 8270.2 9124.8 9746.7 11744.3
(i)Local sales 3344.0 2241.2 4215.3 4652.8 5129.5 5202.9
(ii)Export sales 4452.6 3319.0 4054.9 4472.0 4617.2 6541.4
2.Cost of Sales 7426.6 4955.9 7505.4 8289.6 8618.6 10012.9
3.Gross profit 370.0 604.3 764.8 835.2 1128.1 1731.4
8.Tax provision 57.6 41.5 55.7 64.6 60.5 77.3
F.Cash Flow Data
138
Sargodha Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 73.2 116.0 160.0 69.6 364.7 239.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.6 3.3 1.1 1.9 2.2 2.7
(i)Cash 0.4 1.7 0.6 1.0 1.7 2.5
(ii)Investments 1.2 1.6 0.5 0.9 0.5 0.2
3.Inventories 142.2 185.3 200.0 149.7 191.6 107.3
C.Fixed Assets:
4.Total assets (B4+C2) 944.4 1011.5 1146.3 1093.9 1378.1 1222.3
D.Operation:
1.Gross sales 1502.6 1070.2 1431.0 1349.2 1505.5 1402.2
(i)Local sales 1216.6 809.4 1098.3 880.0 1182.4 917.1
(ii)Export sales 286.0 260.8 332.7 469.2 323.1 485.1
2.Cost of Sales 1442.8 977.7 1280.8 1309.6 1437.1 1386.3
3.Gross profit 59.8 92.5 150.2 39.6 68.4 15.9
5.Operating profit 29.7 65.4 95.9 -23.7 12.2 -47.4
8.Tax provision 6.7 4.8 7.2 6.8 7.5 5.0
F.Cash Flow Data
10.Financial expenses as % of operating profit (D6 as % of D5) 51.2 25.8 40.3 -252.3 523.8 -160.5
139
Saritow Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -55.3 -42.8 -44.0 -49.9 -11.2 -15.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.6 1.5 3.7 6.6 6.1 4.5
(i)Cash 0.6 1.5 3.7 6.6 6.1 4.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 57.5 109.7 162.4 156.3 188.6 174.4
C.Fixed Assets:
4.Total assets (B4+C2) 425.2 475.6 598.0 601.3 595.1 570.3
D.Operation:
1.Gross sales 304.0 289.5 411.3 464.5 450.6 472.0
(i)Local sales 303.5 289.5 411.3 464.5 450.6 472.0
(ii)Export sales 0.5 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 289.7 258.9 357.5 404.0 388.7 431.5
3.Gross profit 14.3 30.6 53.8 60.5 61.9 40.5
8.Tax provision 1.3 1.5 2.9 2321.2 2.3 0.0
2.Retention in business (D7-D8-D9) -13.3 11.7 5.2 -2315.1 8.3 -27.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -154.1 48.4 -4.0 3.9 85.1 -53.5
6.Self financing ratio (E2 as % of E1) - 30.4 -31.3 27236.5 11.7 39.2
7.Cash flow ratio F1 as % of F2 - 44.6 -445.0 -59043.6 26.3 21.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -1.0 0.9 0.4 -174.3 0.6 -2.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -58.7 -4.8 42.1 12.9 -3.0 4.7
140
Service Fabrics Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -557.6 -557.6 -391.8 -378.9 -379.1 -379.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.7 5.7 0.1 0.0 0.0 0.0
(i)Cash 5.7 5.7 0.1 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 2.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 471.3 471.3 134.1 0.0 0.0 0.0
D.Operation:
1.Gross sales 221.0 221.0 0.0 0.0 0.0 0.0
(i)Local sales 98.4 98.4 0.0 0.0 0.0 0.0
(ii)Export sales 122.6 122.6 0.0 0.0 0.0 0.0
2.Cost of Sales 271.2 271.2 0.0 0.0 0.0 0.0
3.Gross profit -50.2 -50.2 0.0 0.0 0.0 0.0
5.Operating profit -75.9 -75.9 1.4 13.0 -0.1 -0.1
8.Tax provision 0.2 0.2 0.0 1.8 0.0 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -60.0 -60.0 1.2 11.0 -0.2 -0.2
6.Self financing ratio (E2 as % of E1) - - -0.4 85.3 -0.1 0.2
7.Cash flow ratio F1 as % of F2 -129.3 -129.3 -0.4 85.3 -0.1 0.2
10.Financial expenses as % of operating profit (D6 as % of D5) - - 14.3 0.0 -100.0 -100.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -6.8 -6.8 0.1 0.7 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 0.0 -100.0 - - -
141
Service Industries Textiles Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -132.7 -85.8 -83.4 -202.1 -233.3 -225.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.4 0.5 2.4 0.4 1.1 1.2
(i)Cash 0.4 0.5 2.4 0.4 1.1 1.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 60.9 51.7 45.9 67.4 5.6 17.3
C.Fixed Assets:
4.Total assets (B4+C2) 328.8 336.5 277.9 273.1 187.1 181.3
D.Operation:
1.Gross sales 309.6 318.5 274.4 245.6 192.8 242.9
(i)Local sales 309.6 318.5 274.4 245.6 192.8 242.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 297.2 315.3 275.8 276.1 198.8 249.2
3.Gross profit 12.4 3.2 -1.4 -30.5 -6.0 -6.3
8.Tax provision 1.5 1.4 1.4 1.2 1.0 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 52.5 -7.5 38.5 -53.2 -23.3 62.4
6.Self financing ratio (E2 as % of E1) 45.9 - -22.6 60.3 -43.7 87.4
7.Cash flow ratio F1 as % of F2 79.8 -100.0 -70.4 52.5 -23.1 109.3
10.Financial expenses as % of operating profit (D6 as % of D5) 45.1 - 51.7 -58.6 -97.3 -196.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 11.7 - 7.5 -1.7 -2.7 0.0
3.Net profit margin (D7 as % of D1) 4.1 -5.7 6.8 -29.3 -19.0 -15.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 2.5 -4.4 3.9 -16.4 -8.5 -8.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -8.9 2.9 -13.8 -10.5 -21.5 26.0
142
Shadab Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 63.3 85.7 109.8 82.7 81.9 53.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.1 4.7 1.1 1.7 0.8 2.0
(i)Cash 1.1 4.7 1.1 1.7 0.8 2.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 83.0 68.5 35.6 67.4 127.3 119.0
C.Fixed Assets:
4.Total assets (B4+C2) 303.0 327.1 423.9 405.0 460.9 440.5
D.Operation:
1.Gross sales 703.2 563.5 684.4 705.8 868.9 874.4
(i)Local sales 703.2 563.5 684.4 701.1 868.9 871.8
(ii)Export sales 0.0 0.0 0.0 4.7 0.0 2.6
2.Cost of Sales 656.4 513.1 612.9 654.9 817.9 849.7
3.Gross profit 46.8 50.4 71.5 50.9 51.0 24.7
8.Tax provision 3.0 2.5 3.4 3.5 4.3 0.0
F.Cash Flow Data
143
Shadman Cotton Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 253.3 269.4 269.1 106.1 32.1 405.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11.7 20.3 7.6 7.2 5.4 18.6
(i)Cash 11.7 20.3 7.6 7.2 5.4 14.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 4.3
3.Inventories 593.8 713.6 596.3 450.8 855.1 626.9
C.Fixed Assets:
4.Total assets (B4+C2) 2029.2 1982.8 1882.6 1823.7 2230.4 2700.1
D.Operation:
1.Gross sales 2690.0 1970.9 2464.0 2389.7 2904.7 3215.3
(i)Local sales 1874.3 1530.6 1640.1 1704.5 2348.4 2559.9
(ii)Export sales 815.7 440.3 823.9 685.2 556.3 655.4
2.Cost of Sales 2557.0 1833.2 2251.6 2247.2 2735.1 3070.5
3.Gross profit 133.0 137.7 212.4 142.5 169.6 144.8
8.Tax provision 12.0 8.8 12.7 12.2 14.4 6.8
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 26.5 68.3 -111.8 -8.5 14.8 -34.4
144
Shaheen Cotton Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 195.3 229.5 240.2 107.0 133.7 27.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 60.4 87.1 69.6 61.9 66.0 13.1
(i)Cash 25.6 6.1 11.5 14.4 11.2 1.4
(ii)Investments 34.8 81.0 58.1 47.5 54.8 11.7
3.Inventories 83.4 113.3 152.4 75.5 189.1 76.1
C.Fixed Assets:
4.Total assets (B4+C2) 644.0 773.8 772.3 664.3 818.1 632.4
D.Operation:
1.Gross sales 828.0 706.8 890.3 935.5 1054.2 825.3
(i)Local sales 723.9 489.6 590.5 619.2 700.7 311.2
(ii)Export sales 104.1 217.2 299.8 316.3 353.5 514.1
2.Cost of Sales 795.1 639.8 814.0 877.6 1023.8 804.7
3.Gross profit 32.9 67.0 76.3 57.9 30.4 20.6
8.Tax provision 4.1 3.2 4.5 4.7 5.3 5.1
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -6.7 24.7 101.6 -7.8 -13.9 61.5
145
Shahpur Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - -123.3 -165.8 -151.9 -151.9
3.Shareholder's Equity (A1+A2) - - 16.5 -26.0 -12.1 -12.1
5.Debentures - - 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - 2.2 2.7 0.0 0.0
(i)Cash - - 2.2 2.7 0.0 0.0
(ii)Investments - - 0.0 0.0 0.0 0.0
3.Inventories - - 82.7 52.9 43.4 43.4
7.Net Current Assets(B4-B5) - - -242.5 -327.9 -381.2 -381.2
C.Fixed Assets:
4.Total assets (B4+C2) - - 501.2 535.2 476.5 476.5
D.Operation:
1.Gross sales - - 569.8 471.0 300.6 300.6
(i)Local sales - - 564.4 471.0 300.6 300.6
(ii)Export sales - - 5.4 0.0 0.0 0.0
2.Cost of Sales - - 556.2 506.7 329.7 329.7
3.Gross profit - - 13.6 -35.7 -29.1 -29.1
5.Operating profit - - 6.7 -33.8 47.7 47.7
7.Net profit before tax (D5-D6) - - -36.8 -63.7 10.2 10.2
8.Tax provision - - 2.9 2.4 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - - 0.0
2.Retention in business (D7-D8-D9) - - -39.7 -66.1 10.2 10.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - -10.8 -37.6 477.8 477.8
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - - 467.6
5.Return on assets (D7 as % of C4) - - -7.3 -11.9 2.1 2.1
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - 11.8 -18.6 -8.7 -8.7
15.Return on Equity (D7 as % of A3) - - -223.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) - - -6.5 -13.5 3.4 3.4
4.Earning per share before tax (D7/No. of ordinary shares) - - -2.6 -4.6 0.7 0.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - -2.8 -4.7 0.7 0.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - -360.0 -560.0 -30.0 0.0
10.Break-up value of ordinary shares (in rupees) - - 1.2 -1.9 -0.9 -0.9
146
Shahtaj Textile Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 408.4 388.8 303.9 319.0 272.4 302.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 28.5 6.0 11.5 15.3 35.2 3.2
(i)Cash 28.5 6.0 11.5 15.3 35.2 3.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 127.4 136.1 130.4 153.0 184.0 174.0
7.Net Current Assets(B4-B5) 43.9 16.9 -133.9 44.1 11.3 -40.7
C.Fixed Assets:
4.Total assets (B4+C2) 1169.2 1112.3 1221.9 1286.3 1505.3 1447.3
D.Operation:
1.Gross sales 1111.9 1195.9 1568.3 1752.6 1984.1 2424.4
(i)Local sales 861.9 663.4 307.8 106.2 178.6 188.0
(ii)Export sales 250.0 532.5 1260.5 1646.4 1805.5 2236.4
2.Cost of Sales 1050.1 1126.6 1402.0 1592.4 1854.9 2153.9
3.Gross profit 61.8 69.3 166.3 160.2 129.2 270.5
8.Tax provision 5.8 5.5 8.3 9.9 12.1 16.8
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 203.9 -72.4 -106.7 141.2 7.8 -113.6
2.Retention in business (D7-D8-D9) 2.3 -8.4 29.7 28.6 3.6 14.4
3.Finance from outside the company (E1-E2) 201.6 -64.0 -136.4 112.6 4.2 -128.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 263.8 -15.4 -32.7 216.9 78.3 -37.8
6.Self financing ratio (E2 as % of E1) 1.1 - -27.8 20.3 46.2 -12.7
7.Cash flow ratio F1 as % of F2 23.6 - -317.1 48.1 94.6 -238.6
1.Dividend cover ratio [(D7 - D8) as % of D9] 118.7 -33.3 253.9 0.0 0.0 174.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 1.7 -0.2 5.1 3.0 0.4 3.5
147
Shahzad Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 366.8 371.9 300.9 300.9 369.4 401.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 18.9 37.4 11.1 11.1 17.9 17.6
(i)Cash 10.1 2.3 2.9 2.9 4.5 3.9
(ii)Investments 8.8 35.1 8.2 8.2 13.4 13.7
3.Inventories 101.6 97.6 103.2 103.2 145.6 90.5
C.Fixed Assets:
4.Total assets (B4+C2) 865.1 940.4 1052.5 1052.5 1146.8 1104.3
D.Operation:
1.Gross sales 906.6 743.0 921.0 921.0 1206.3 1398.1
(i)Local sales 518.3 450.4 694.3 694.3 840.6 1136.1
(ii)Export sales 388.3 292.6 226.7 226.7 365.7 262.0
2.Cost of Sales 837.2 679.2 815.7 815.7 1154.3 1293.5
3.Gross profit 69.4 63.8 105.3 105.3 52.0 104.6
8.Tax provision 4.5 3.5 4.6 4.6 6.0 2.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -36.3 42.5 -21.7 0.0 31.2 58.5
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -260.0 -68.8 320.0 0.0 -85.7 866.7
148
Shams Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 424.0 455.8 417.0 555.5 424.5 312.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 258.8 283.4 218.4 0.2 14.0 43.5
(i)Cash 98.3 8.4 13.7 0.2 14.0 14.3
(ii)Investments 160.5 275.0 204.7 0.0 0.0 29.2
3.Inventories 97.4 123.0 142.7 211.9 346.2 289.2
C.Fixed Assets:
4.Total assets (B4+C2) 1006.4 1098.7 1660.0 1874.5 1736.7 1635.9
D.Operation:
1.Gross sales 1327.1 1109.3 1559.6 2206.7 2316.5 2700.8
(i)Local sales 1122.5 1017.1 1360.6 1661.1 1912.1 2284.8
(ii)Export sales 204.6 92.2 199.0 545.6 404.4 416.0
2.Cost of Sales 1221.7 978.6 1411.7 2093.7 2205.8 2563.7
3.Gross profit 105.4 130.7 147.9 113.0 110.7 137.1
8.Tax provision 6.8 5.3 8.6 11.3 11.7 4.2
F.Cash Flow Data
149
Sind Fine Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -89.3 -36.3 -46.0 -46.1 -47.6 -47.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -33.2 3.8 -11.7 -11.8 -13.3 -13.6
B.Liquidity:
1.Liquid Assets: 7.8 0.6 0.2 0.2 0.2 0.2
(i)Cash 7.8 0.6 0.2 0.2 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 81.5 34.1 6.3 6.2 2.9 2.7
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.2 0.2 0.1 0.1 0.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -49.4 37.0 -15.5 -0.1 -1.5 -0.3
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -43.9 39.2 -15.3 0.1 -1.3 -0.1
10.Financial expenses as % of operating profit (D6 as % of D5) - 6.8 -7.0 0.0 0.0 0.0
150
Sunrays Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 333.6 392.6 355.6 0.0 346.7 582.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.6 47.5 39.4 17.4 27.6 38.4
(i)Cash 7.6 45.2 37.1 15.1 25.3 36.1
(ii)Investments 0.0 2.3 2.3 2.3 2.3 2.3
3.Inventories 179.4 493.7 381.3 400.5 937.9 495.2
C.Fixed Assets:
4.Total assets (B4+C2) 865.5 1324.7 1368.8 1560.0 2096.9 1809.2
D.Operation:
1.Gross sales 1226.1 1000.5 1626.9 1704.4 1902.1 2197.3
(i)Local sales 492.3 458.2 1433.3 1338.9 1658.4 1614.6
(ii)Export sales 733.8 542.3 193.6 365.5 243.7 582.7
2.Cost of Sales 1102.9 838.1 1488.1 1572.2 1723.3 1959.9
3.Gross profit 123.2 162.4 138.8 132.2 178.8 237.4
8.Tax provision 14.8 7.0 8.1 0.2 9.5 15.5
F.Cash Flow Data
151
Suraj Cotton Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 762.8 956.9 957.8 1185.8 1225.0 1214.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 213.0 310.2 246.0 379.2 10.9 65.9
(i)Cash 57.2 55.2 53.7 372.1 5.7 13.5
(ii)Investments 155.8 255.0 192.3 7.1 5.2 52.4
3.Inventories 171.9 473.0 367.3 404.4 886.0 711.3
C.Fixed Assets:
4.Total assets (B4+C2) 2518.6 2636.5 3438.6 3580.0 3708.4 3350.5
D.Operation:
1.Gross sales 3389.6 2608.0 3721.7 4128.2 4130.3 4790.5
(i)Local sales 2931.5 1973.2 2435.8 2804.0 2962.9 3646.9
(ii)Export sales 458.1 634.8 1285.9 1324.2 1167.4 1143.6
2.Cost of Sales 3153.8 2300.1 3301.1 3701.9 3728.4 4235.0
3.Gross profit 235.8 307.9 420.6 426.3 401.9 555.5
8.Tax provision 15.4 15.0 19.3 21.0 20.8 11.8
F.Cash Flow Data
152
Taha Spinning Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 110.6 107.8 121.4 71.2 38.0 10.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.6 2.1 3.3 3.2 5.9 3.2
(i)Cash 2.2 2.1 2.9 3.2 5.9 3.2
(ii)Investments 0.4 0.0 0.4 0.0 0.0 0.0
3.Inventories 119.9 170.7 166.7 119.3 27.8 22.0
C.Fixed Assets:
4.Total assets (B4+C2) 301.9 375.0 415.2 413.3 447.4 274.3
D.Operation:
1.Gross sales 260.3 155.0 478.1 416.3 231.2 3.0
(i)Local sales 247.1 132.4 292.8 323.0 228.8 3.0
(ii)Export sales 13.2 22.6 185.3 93.3 2.4 0.0
2.Cost of Sales 254.1 149.2 426.8 390.1 230.5 13.4
3.Gross profit 6.2 5.8 51.3 26.2 0.7 -10.4
8.Tax provision 1.3 0.7 2.8 2.1 1.2 0.0
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -8.5 -40.5 208.5 -12.9 -44.5 -98.7
153
Taj Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -130.2 -446.3 -644.7 -644.7 -948.5 -948.5
3.Shareholder's Equity (A1+A2) 204.2 -111.9 -310.3 -310.3 -614.1 -614.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.7 14.9 14.7 14.7 10.3 10.3
(i)Cash 1.8 9.8 10.3 10.3 7.2 7.2
(ii)Investments 8.9 5.1 4.4 4.4 3.1 3.1
3.Inventories 350.6 299.2 224.6 224.6 114.0 114.0
C.Fixed Assets:
4.Total assets (B4+C2) 1987.9 1719.3 1491.5 1491.5 1231.7 1231.7
D.Operation:
1.Gross sales 1388.5 1037.2 1189.5 1189.5 43.7 43.7
(i)Local sales 1348.9 980.8 1180.6 1180.6 43.7 43.7
(ii)Export sales 39.6 56.4 8.9 8.9 0.0 0.0
2.Cost of Sales 1433.3 1069.6 1258.8 1258.8 56.4 56.4
3.Gross profit -44.8 -32.4 -69.3 -69.3 -12.7 -12.7
8.Tax provision 6.8 5.4 5.9 5.9 0.2 0.2
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -64.2 - 104.6 -173.0 -3.2 26.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 61.1 -33.5 -92.8 -92.8 -183.6 -183.6
10.Break-up value of ordinary shares (in rupees) 6.1 -3.3 -9.3 -9.3 -18.4 -18.4
154
Tata Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 358.5 406.1 432.8 428.6 1273.6 1059.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.3 81.4 15.8 133.0 55.6 41.0
(i)Cash 4.3 78.1 14.4 133.0 55.6 41.0
(ii)Investments 0.0 3.3 1.4 0.0 0.0 0.0
3.Inventories 253.2 656.6 755.3 775.9 1421.8 1159.8
7.Net Current Assets(B4-B5) -11.2 6.4 -142.4 94.3 -31.8 -604.8
C.Fixed Assets:
4.Total assets (B4+C2) 1350.5 2438.7 2555.7 2608.6 4142.3 3783.0
D.Operation:
1.Gross sales 1222.8 1129.9 2124.0 2382.0 2415.4 2683.2
(i)Local sales 299.8 155.8 526.4 524.9 398.8 405.9
(ii)Export sales 923.0 974.1 1597.6 1857.1 2016.6 2277.3
2.Cost of Sales 1076.6 912.3 1754.0 1949.3 1990.6 2265.7
3.Gross profit 146.2 217.6 370.0 432.7 424.8 417.5
8.Tax provision 15.9 11.2 27.0 32.2 19.1 22.9
F.Cash Flow Data
155
The Crescent Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2079.2 2246.7 2055.1 4182.3 3560.5 3410.1
5.Debentures 0.0 499.9 399.9 0.0 300.0 0.0
B.Liquidity:
1.Liquid Assets: 948.2 886.5 1193.8 1127.6 1129.7 312.0
(i)Cash 32.2 35.7 40.6 7.4 8.6 18.9
(ii)Investments 916.0 850.8 1153.2 1120.2 1121.1 293.1
3.Inventories 3674.8 1172.3 962.7 978.3 1240.7 940.4
C.Fixed Assets:
4.Total assets (B4+C2) 6849.8 7220.6 7131.8 10251.1 11145.8 10815.9
D.Operation:
1.Gross sales 5723.7 4298.1 5097.6 5591.6 8844.6 10750.5
(i)Local sales 1917.1 1272.7 1950.3 1998.1 2301.6 2764.4
(ii)Export sales 3806.6 3025.4 3147.3 3593.5 6543.0 7986.1
2.Cost of Sales 5224.0 3757.4 4573.3 5062.3 7876.6 9175.3
3.Gross profit 499.7 540.7 524.3 529.3 968.0 1575.2
7.Net profit before tax (D5-D6) 98.3 126.5 -17.1 117.1 -42.9 258.1
8.Tax provision 43.3 37.9 41.6 48.8 59.4 73.4
2.Retention in business (D7-D8-D9) 55.0 47.9 -58.7 68.3 -102.3 184.7
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 1.4 1.8 -0.2 1.1 -0.4 2.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 44.0 30.0 -243.3 41.7 -138.5 28.4
15.Return on Equity (D7 as % of A3) 4.0 4.8 -0.7 2.5 -1.1 6.6
3.Net profit margin (D7 as % of D1) 1.7 2.9 -0.3 2.1 -0.5 2.4
4.Earning per share before tax (D7/No. of ordinary shares) 2.4 3.1 -0.4 2.6 -0.9 5.2
156
Towellers Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 546.3 549.0 504.4 809.1 831.1 970.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 121.0 68.8 91.9 69.2 44.4 50.7
(i)Cash 121.0 68.8 91.9 69.2 44.4 50.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 366.7 584.2 597.5 867.9 1089.5 1065.3
C.Fixed Assets:
4.Total assets (B4+C2) 1461.2 2118.9 2333.5 3232.9 3524.8 3651.8
D.Operation:
1.Gross sales 2001.8 1371.2 2246.5 2358.3 3626.6 3419.6
(i)Local sales 68.8 54.1 91.8 27.8 64.2 19.5
(ii)Export sales 1933.0 1317.1 2154.7 2330.5 3562.4 3400.1
2.Cost of Sales 1835.9 1157.5 1921.0 1926.9 3084.5 2739.5
3.Gross profit 165.9 213.7 325.5 431.4 542.1 680.1
8.Tax provision 14.8 9.8 20.4 22.7 33.5 33.9
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 28.5 236.8 -156.1 477.0 110.6 13.1
F.Cash Flow Data
157
Usman Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 127.6 127.6 42.0 45.9 56.0 56.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.0 10.0 0.0 98.2 18.0 18.0
(i)Cash 9.9 9.9 0.0 0.0 0.0 0.0
(ii)Investments 0.1 0.1 0.0 98.2 18.0 18.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
9.Net liquid assets (B1-B5) -57.4 -57.4 -19.9 74.1 -11.2 -11.2
C.Fixed Assets:
4.Total assets (B4+C2) 232.3 232.3 99.2 107.2 122.4 122.4
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 4.5 2.9 4.6 4.6
F.Cash Flow Data
158
Yousaf Weaving Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -139.5 -254.7 -231.0 -222.2 -233.0 -228.9
3.Shareholder's Equity (A1+A2) 42.2 -73.0 169.0 177.8 167.0 171.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 254.6 -21.1 312.2 347.7 369.0 379.4
B.Liquidity:
1.Liquid Assets: 115.8 89.2 50.8 117.2 3.8 6.5
(i)Cash 115.8 89.2 50.8 117.2 3.8 6.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 115.7 69.9 113.7 147.3 177.8 196.6
C.Fixed Assets:
4.Total assets (B4+C2) 989.0 719.6 956.7 1178.9 1306.1 1265.4
D.Operation:
1.Gross sales 1683.3 928.3 1179.2 1573.8 1972.8 2099.0
(i)Local sales 913.1 484.3 951.3 784.6 946.8 955.4
(ii)Export sales 770.2 444.0 227.9 789.2 1026.0 1143.6
2.Cost of Sales 1601.3 930.6 1054.4 1442.4 1797.2 1884.6
3.Gross profit 82.0 -2.3 124.8 131.4 175.6 214.4
5.Operating profit -30.3 -65.0 62.1 48.2 63.8 92.0
7.Net profit before tax (D5-D6) -70.6 -92.4 39.5 7.6 0.7 14.9
8.Tax provision 8.9 6.7 5.9 9.8 10.2 11.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -80.7 -275.7 333.3 35.5 21.3 10.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -21.3 -65.2 19.2 76.0 52.1 64.1
2.Depreciation for the year plus changes in capital employed (C3+E1) -22.5 -241.8 383.1 113.7 82.9 71.0
6.Self financing ratio (E2 as % of E1) - - -9.2 -6.2 -44.6 33.7
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 23.2 -40.2 42.3 44.5 41.8 42.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -4.4 -5.5 0.8 -0.1 -0.2 0.1
10.Break-up value of ordinary shares (in rupees) 2.3 -4.0 4.2 4.4 4.2 4.3
159
Zahidjee Textile Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 143.0 170.5 234.3 851.1 478.2 257.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.5 123.2 180.3 221.5 150.8 270.1
(i)Cash 7.5 10.4 11.0 141.5 9.2 7.5
(ii)Investments 0.0 112.8 169.3 80.0 141.6 262.6
3.Inventories 30.7 62.7 59.8 578.3 695.6 718.2
C.Fixed Assets:
4.Total assets (B4+C2) 435.1 590.5 638.7 2521.7 3005.9 2719.9
D.Operation:
1.Gross sales 675.7 480.6 605.4 2772.6 1960.5 2109.3
(i)Local sales 675.7 476.0 603.0 1834.2 1119.2 1175.9
(ii)Export sales 0.0 4.6 2.4 938.4 841.3 933.4
2.Cost of Sales 661.1 455.5 567.6 2543.1 1794.1 1845.8
3.Gross profit 14.6 25.1 37.8 229.5 166.4 263.5
8.Tax provision 3.0 0.4 0.1 11.6 9.8 10.5
F.Cash Flow Data
160
Zahur Cotton Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -157.2 -131.1 -151.6 -176.8 -176.8 -176.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.5 0.2 0.1 0.2 0.2 0.2
(i)Cash 0.5 0.2 0.1 0.2 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 3.2 5.0 2.9 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 257.0 154.0 145.4 114.6 114.6 114.6
D.Operation:
1.Gross sales 50.0 34.1 35.0 9.2 9.2 9.2
(i)Local sales 50.0 34.1 35.0 9.2 9.2 9.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 64.3 39.5 49.3 23.6 23.6 23.6
3.Gross profit -14.3 -5.4 -14.3 -14.4 -14.4 -14.4
8.Tax provision 0.2 0.2 0.0 0.1 0.1 0.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -23.0 -117.0 -34.2 -21.7 8.5 8.5
7.Cash flow ratio F1 as % of F2 - - 55.0 77.0 -196.5 -196.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -20.8 -31.8 2.6 -73.7 0.0 0.0
161
Zephyr Textiles Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
1.Ordinary Share Capital - 474.3 594.3 594.3 594.3 594.3
2.Surplus - 23.6 56.4 59.0 204.3 53.3
3.Shareholder's Equity (A1+A2) - 497.9 650.7 653.3 798.6 647.6
4.Prefrence Shares - 0.0 0.0 0.0 0.0 0.0
5.Debentures - 0.0 0.0 0.0 0.0 0.0
6.Other Fixed Liabilities - 468.8 755.9 721.3 683.1 694.2
7.Total Fixed Liabilities (A4+A5+A6) - 468.8 755.9 721.3 683.1 694.2
8.Total Capital Employed (A3+A7) - 966.7 1406.6 1374.6 1481.7 1341.8
B.Liquidity:
1.Liquid Assets: - 103.4 67.4 59.8 16.7 34.3
(i)Cash - 103.4 35.5 59.8 2.5 28.9
(ii)Investments - 0.0 31.9 0.0 14.2 5.4
2.Other Current Assets - 395.7 483.6 660.5 581.9 555.8
3.Inventories - 207.7 391.5 587.9 672.8 608.4
4.Current Assets (B1+B2+B3) - 706.8 942.5 1308.2 1271.4 1198.5
5.Current Liabilities - 766.8 1158.1 1686.0 2065.0 1986.5
6.Total Liabilities(A7+B5) - 1235.6 1914.0 2407.3 2748.1 2680.7
7.Net Current Assets(B4-B5) - -60.0 -215.6 -377.8 -793.6 -788.0
8.Contractual Liabilities - 1147.6 1710.1 1933.0 2270.1 2114.0
9.Net liquid assets (B1-B5) - -663.4 -1090.7 -1626.2 -2048.3 -1952.2
C.Fixed Assets:
1.Fixed Asset At Cost - 362.0 1732.0 1966.9 1977.3 2359.7
2.Fixed assets after deducting accumulated depreciation - 1026.6 1622.1 1752.4 2275.2 2129.6
3.Depreciation for the year - 27.8 74.1 143.0 368.7 196.3
4.Total assets (B4+C2) - 1733.4 2564.6 3060.6 3546.6 3328.1
D.Operation:
1.Gross sales - 1054.1 1564.1 2712.7 2634.6 2601.7
(i)Local sales - 498.8 605.5 1451.9 1830.0 1669.5
(ii)Export sales - 555.3 958.6 1260.8 804.6 932.2
2.Cost of Sales - 939.5 1348.2 2435.6 2393.3 2327.1
3.Gross profit - 114.6 215.9 277.1 241.3 274.6
4.Overhead and Other Expenses - 987.9 1402.1 2519.2 2493.8 2441.5
5.Operating profit - 67.1 164.3 214.1 156.3 197.6
6.Financial expenses - 36.9 108.9 197.9 346.1 353.6
7.Net profit before tax (D5-D6) - 30.2 55.4 16.2 -189.8 -156.0
8.Tax provision - 5.5 9.3 13.6 13.2 9.3
9.Total amount of dividend - 0.0 0.0 0.0 0.0 0.0
10.Total value of bonus shares issued - 15.0 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 439.9 -32.0 107.1 -139.9
2.Retention in business (D7-D8-D9) - 24.7 46.1 2.6 -203.0 -165.3
3.Finance from outside the company (E1-E2) - - 393.8 -34.6 310.1 25.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - 52.5 120.2 145.6 165.7 31.0
2.Depreciation for the year plus changes in capital employed (C3+E1) - - 514.0 111.0 475.8 56.4
2.Current ratio (B4 as % of B5) - 92.2 81.4 77.6 61.6 60.3
3.Acid test or Quick ratio (B4-B3 as % B5) - 65.1 47.6 42.7 29.0 29.7
5.Return on assets (D7 as % of C4) - 1.7 2.2 0.5 -5.4 -4.7
6.Self financing ratio (E2 as % of E1) - 0.0 10.5 -8.1 -189.5 118.2
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - 105.0 109.5 109.9 134.4 109.0
12.Financial expenses as % of contractual liabilities (D6 as % B8) - 3.2 6.4 10.2 15.2 16.7
15.Return on Equity (D7 as % of A3) - 6.1 8.5 2.5 -23.8 -24.1
3.Net profit margin (D7 as % of D1) - 2.9 3.5 0.6 -7.2 -6.0
4.Earning per share before tax (D7/No. of ordinary shares) - 0.6 0.9 0.3 -3.2 -2.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - 0.5 0.8 0.0 -3.4 -2.8
6.Average annual % depreciation on written down fixed assets - 7.3 7.2 8.8 21.0 8.6
7.Sales as % of total assets (D1 as % of C4) - 60.8 61.0 88.6 74.3 78.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -40.0 50.0 -66.7 -1166.7 -18.8
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 48.4 73.4 -2.9 -1.2
10.Break-up value of ordinary shares (in rupees) - 10.5 10.9 11.0 13.4 10.9
162
(Colony) Sarhad Textile Mills Ltd.
125-Murree Road, Rawalpindi.
Management Banker Auditor
Mr. Sohail Farooq Shaikh(Chairman/Chief Exec. MCB Bank Ltd. M/s. Naveed Zafar Hussain Jaffery & Co.
Mr. Farrukh Haroon Rashid(Director) United Bank Ltd.
Miss. Nazifa Khaliq(Director)
Mrs. Nadia Shaikh(Director)
Mr. Shahid Aziz (NIT)(Director)
Miss. Surriya Shaikh(Director)
Mrs. Neelum Suhail Shaikh(Director)
Date of Annual General Meeting 31st October , 2009 Face Value Rs. 10.00
Year Ending : 30th June , 2009 Market Price as on 30/06/2009 Rs. 1.00
Percentage Dividend rate : Highest Price in 2009 Rs. 3.87
Ordinary Shares (%) Lowest Price in 2009 Rs. .87
Ordinary Shares Bonus (%) Average Price in 2009 Rs. 1.97
Preference Shares(%) Investment Yield%
Production Desc Units Capacity Actual Production

Yarn Kgs. 3,500,000 -
(Colony) Thal Textile Mills Ltd.

7/1, Mian Shami Road, Lahore Cantt.
Mrs. Ayesha Tanveer(Chairperson) MCB Bank Ltd. M/s. Sarwars & Co.
Mr. Tanveer A.Shaikh(Chief Executive) Habib Bank Ltd.
Mr. Muhammad Taimur Tanveer(Director)
Mr. Ahmed Shaikh(Director)
Miss. Beenish Elahi(Director)
Mr. Sardar Muhammad Nawaz(Director)
Mr. Hadayat Ali Shar(Director)

Yarn Kgs 3,042,818 1,899,857
163
Accord Textiles Ltd.
47-A Main Gulberg, Lahore
Mr. Haider Ali(Chairman / C.E.O.) Habib Bank Ltd. M/s. M. Hussain Chaudhury & Co.
Mr. Hammmad Raza Khan(Director) National Bank Of Pakistan
Mrs. Farnaz Haider(Director) NIB Bank Ltd.
Mr. Imran Iftikhar(Director) Standard Chartered Bank Ltd.
Mr. Asghar Ali(Director)
Mr. Raheem Azeem(Director)
Mrs. Azra Ahmed(Director)
Year Ending : 30th June , 2009 Market Price as on 30/06/2009 Rs. .18
Ordinary Shares Bonus (%) Average Price in 2009 Rs. .45

Yarn Kgs - 2,794,902
Adil Textile Mills Ltd.

Adil House No. 53-K, Gulberg-III, Lahore.
Mr. Adil Mahmood((Chief Executive)) MCB Bank Ltd M/s. Mushtaq & Co.
Mr. Zulfiqar Ali(Director) National Bank Of Pakistan
Ms. Nusrat Shaheen(Director)
Mr. Aqeel Ahmad(Director)
Mr. Rizwan Hameed(Director)
Mr. Shahid Qureshi(Director)
Mr. Saqib Maqsood(Director)
Ordinary Shares (%) Lowest Price in 2009 Rs. 1.30

Yarn Kgs. 5900609 -
164
Ahmed Hassan Textile Mills Ltd.
46-Hassan Parwana Colony, Multan.
Mian Mohammad Javed Anwar(Chairman) United Bank Limited M/s. M. Yousuf Adil Saleem & Co.
Mian Mohammad Parvez(Chief Executive) Faysal Bank Ltd.
Mr. Muhammad Aurangzeb(Director) Bank Al-Habib Ltd.
Mrs. Salma Javed(Director) Habib Bank Ltd.
Mrs. Waheeda Parvez(Director) Allied Bank Ltd.
Mr. Mohammad Haris(Director) Meezan Bank Ltd.
Mr. Syed Raza Abbas Jafferi (NIT)(Director)

Yarn Kgs. 12,988,309 11,818,351
Fabric Th. Sq. Meters 41,539 33,644
Al-Azhar Textile Mills Ltd.

Chak No. 7-B.C, 10-K.M., Hasilpur Road, Bahawalpur.
Mirza Muhammad Nasir Baig(Chairman/C.E.) National Bank Of Pakistan M/s. Akhtar Mehmood Mian (C.A.)
Mirza Muhammad Umar Baig(Director) Allied Bank Of Pakistan Ltd.
Mrza Muhammad Jahanzeb Baig(Director) Bank Al-Habib Ltd.
Mrs. Fahmida Begum(Director) Habib Metropolitan Bank Ltd.
Mrs. Saung Hee Shin(Director)
Mirza Muhammad Asber Baig(Director)
Mrs. Rafiqan Begum(Director)
Date of Annual General Meeting 31st March , 2010 Face Value Rs. 10.00

yarn kgs 6,539,778 5,523,642
165
Al-Qadir Textile Mills Ltd.
Raja House, Near Makki Masjid, Chakwal.
Mr. Ghulam Ali Raja(Chairman/C.E.) Bank Alfalah Ltd. M/s Nasir Javaid Maqsood Imran (C.A.)
Mr. Asif Ali Raja(Director)
Mst. Asbah Rubina(Director)
Mr. Faisal Bashir Raja(Director)
Mst. Tasneem Akhtar(Director)
Mst. Yasmeen Begum(Director)
Mr. Muhammad Bashir Raja(Director)
Date of Annual General Meeting 30th October , 2009 Face Value Rs. 10.00

Yarn Kgs. 11,235,420 8,629,207
Ali Asghar Textile Mills Ltd.

306-308, Uni Tower, I.I.Chundrigar Road, Karachi.
Mr. Nadeem Ellahi Shaikh(Chief Executive) Habib Bank Ltd. M/s. Mushtaq & Co.
Mr. Muhammad Azad Khan(Director) Habib Metropolitan Bank Limited
Mr. Sultan Mehmood(Director) Natioanl Bank of Paksitan
Mst. Marium Humayun(Director)
Mr. Raja Ghanzafar Ali(Director)
Mr. Naveed Ellahi Shaikh(Director)
Mr. Salman Masood(Director)

yarn Kgs. 8,116,941 10,262,473
166
Allawasaya Textile & Finishing Mills Ltd.
Mumtazabad Industrial Area, Allawasaya Square, Vehari Road, Multan.
Mian Mohammad Jamil(Chairman) Habib Metorpolitan Bank Ltd. M/s. M. Yousuf Adil Saleem & Co.
Mian Tanvir Ahmad Sheikh(Chief Executive) Allied Bank Limited
Mrs. Nusrat Jamil(Director) Bank Al-Habib Ltd.
Mian Mohammad Bilal Ahmad Sheikh(Director) Habib Bank Ltd.
Mian Tauqir Ahmad Sheikh(Director) United Bank Ltd.
Mian Mohammad Alamgir Jamil Khan(Director)
Mian Anis Ahmad Sheikh(Director)

yarn Kgs. 13,543,818 11,030,315
Amin Spinning Mills Ltd.

24/D-1, Industrial Estate Mirpur, Azad Kashmir.
Chaudhry Muhammad Saeed(Chief Executive) National Bank Of Pakistan M/s. M. Hussain Chaudhury & Co.
Chaudhry Muhammad Shaukat(Director) Habib Bank Ltd.
Chaudhry Abid Hussain(Director) Faysal Bank Ltd.
Chaudhry Azhar Sadiq(Director)
Haji Mohammad Salim(Director)
Chaudhry Irfan Younas(Director)
Chaudhry Muhammad Euseff(Director)

yarn Kgs. - 4,264,927
167
Annoor Textile Mills Ltd.
901, 9th Floor, Business Plaza, Mumtaz Hassan Road, Karachi.
Mr. Mohammad Ibrahim(Chairman) Habib Metorpolitan Bank Ltd. M/s. Rehman Sarfraz Rahim Iqbal Rafiq
Mr. Farooq Ibrahim(Chief Executive)
Mr. Abdul Qadir(Director)
Mr. Muhammad Arshad(Director)
Mr. Mohammad Irshad(Director)
Mr. Mohammad Anees(Director)
Mr. Mohammad Arif(Director)

yarn Kgs. 3,414,735 -
Apollo Textile Mills Ltd.

Suite No. 323, The Forum G-20, Khayaban-e-Jami, Block-9, Clifton, Karachi.
Mr. Ikram Zahur(Chief Executive) Bank Of Punjab M/s. A.R.Khan & Co.
Mr. Abdul Rehman Zahur(Director) Habib Metropolitan Bank Limited
Mr. Inam Gul(Director) MCB Bank Ltd.
Mr. Riaz Hussain(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Muhammad Liaquat(Director) Soneri Bank Ltd
Mr. Muhammad Tahir Khan(Director) National Bank Of Pakistan
Mr. Abdul Rehman(Director) Silk Bank Ltd.

Yarn Kgs 33,802,050 20,227,125
168
Artistic Denim Mills Ltd.
Plot No. 5-9, 23-26, Sector 16, Korangi Industrial Area, Karachi.
Mr. Muhammed Faisal Ahmed(Chief Executive) Allied Bank Of Pakistan Ltd. M/s. Ford, Rhodes, Sidat Hyder & Co.
Mrs. Maliha Faisal(Chairperson) Bank Al Habib Ltd.
Mr. Muhammad Ali Ahmed(Director) Faysal Bank Ltd
Mr. Muhammad Iqbal-ur-Rahim(Director) Natioanl Bank of Paksitan
Mr. Muhammed Yousuf Ahmed(Director) Habib Metorpolitan Bank Ltd.
Mrs. Sarah Ahmed(Director) Citi Bank Ltd.
Mrs Hajra Ahmed(Director)
Ordinary Shares (%) 20 Lowest Price in 2009 Rs. 13.91
Preference Shares(%) Investment Yield% 7

Yarn Lbs. 32,813,500 20,291,729
Fabric Meters 21,727,000 13,435,286
Garments Pcs. 70,000 50,500
Aruj Garment Accessories Ltd.

Aruj House, 2-KM, Off Raiwind-Manga Road, Raiwind, Lahore.
Mr. Maqsood Ahmed Butt(Chief Executive) Habib Bank Ltd. M/s. Qadeer & Co.
Dr. Mrs. Naseem Maqsood(Director) Bank Al-Habib Ltd.
Mrs. Durrya Zara Butt(Director) Bank Alfalah Ltd.
Mrs. Naheed Muneer(Director) Faysal Bank Ltd.
Ms. Aruj Butt(Director)
Mr. Ali Maqsood Butt(Director)
Mr. Sheikh Ghulam Mustafa(Director)

Woven Meters 14,040,000 9,554,926
Nonwoven Meters - -
169
Ashfaq Textile Mills Ltd.
8-A/1, Officers Colony, Susan Road, Faisalabad.
Mr. Ashfaq Ahmed(Chairman/Chief Exec.) Habib Bank Ltd. M/s. Avais Hyder Liaqat Nauman
Mr. Waseem Ashfaq(Director) United Bank Ltd.
Khawaja Muhammad Ilyas(Director)
Mirza Muhammad Idrees(Director)
Mrs. Shazia Amjad(Director)
Mr. Nadeem Ashfaq(Director)
Mr. Amjad Aslam(Director)

Yarn Kgs 1,740,000 1,634,502
Fabric Sq. meters 26,000,000 20,079,992
Asim Textile Mills Ltd.

16 - C, Peoples Colony, Faisalabad.
Mr. Zahid Anwar(Chief Executive) National Bank Of Pakistan M/s. Arshad Raheem & Co.
Mrs. Rukhsana Begum(Director) KASB Bank Ltd.
Mr. Aftab Younis(Director) United Bank Ltd.
Mr. Ali Raza Zafar(Director) Al-Baraka Islamic Investment Bank (Bsc) (E.C.)
Mr. Waseem Abbas(Director) Silk Bank Ltd.
Mr. Umer Farooq(Director)
Ch. Ghulam Murtaza Buttar(Director)

Yarn Kgs. 9,218,467 8,677,141
170
Ayesha Textile Mills Ltd.
97-B Gulberg-II, Lahore.
Mr. Mohammed Rafi(Chairman/ C.E.) National Bank Of Pakistan M/s. Mushtaq & Co.
Mr. Tariq Rafi(Director) Habib Bank Ltd.
Mr. Nisar Anwar(Director) Allied Bank Of Pakistan Ltd.
Mr. A.G.K.Lodhi(Director) Bank Al-Habib Ltd.
Mr. Abdullah Rafi(Director) Habib Metropolitan Bank Ltd.
Mr. Anjum Rafi(Director) United Bank Ltd.
Mr. Arif Rafi(Director) Bank Al-Falah Ltd.
Percentage Dividend rate : Highest Price in 2009 Rs.
Ordinary Shares (%) Lowest Price in 2009 Rs.
Ordinary Shares Bonus (%) Average Price in 2009 Rs.

Yarn Kgs. 23,530,747 19,528,486
Azam Textile Mills Ltd.

17-Aziz Avenue, Canal Bank, Gulberg-V, Lahore.
Mr. M. Naseem Saigol(Chairman/Chief Exec.) Standard Chartered Bank Ltd. M/s. S.P.Amjad & Co.
Mr. Muhammad Omer Farooq(Director) Meezan Bank Ltd.
Mr. M. Azam Saigol(Director) The Bank of Punjab
Mr. Rashid Ahmed Javaid(Director) United Bank Ltd.
Mr. Jamal Nasim (NIT)(Director) National Bank Of Pakistan
Mr. Muhammad Athar Rafiq(Director) MCB Bank Ltd
Mr. Saeed Mian Ansari(Director) Faysal Bank Ltd.

Yarn Kgs. 1,499,113 1,264,700
171
Azgard Nine Ltd.(Legler-Nafees Denim Mills Ltd.)
Ismail Aiwan-i-Science, Off. Shahrah-e-Roomi, Lahore.
Mr. Mueen Afzal(Chairman) Citibank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Ahmed H. Sheikh(Chief Executive) The Royal Bank of Scotland Ltd.
Chief Justice (R) Mian Mahboob Ahmad(Director Faysal Bank Ltd.
Mr. Ahsun M. H. Sheikh(Director) JS Bank Ltd.
Mr. Irfan Nazir Ahmad(Director) M.C.B.
Mr. Khalid A. H. Al-Sagar(Director) Natioanl Bank of Paksitan
Mr. A. Jaudet Bilal(Director) Habib Bank Ltd.
Date of Annual General Meeting 30th April , 2010 Face Value Rs. 10.00
Year Ending : 31st December , 2009 Market Price as on 31/12/2009 Rs. 20.79
Ordinary Shares (%) 8.95 Lowest Price in 2009 Rs. 10.35

Spinning Kgs 12,814,834 10,754,318
weaving Meters 40,028,613 26,246,413
Garments Pieces 10,797,583 8,457,943
Babri Cotton Mills Ltd.

Habibabad, Kohat, Kyber Pukhtoonkhua
Mr. Raza Kuli Khan Khattak(Chairman/Chief Exe National Bank Of Pakistan M/s Hameed Chaudhri & Co.
Mr. Shamim S. Khan(Director) United Bank Ltd.
Dr. Shaheen Kuli Khan Khattak(Director) Habib Bank Ltd.
Mrs. Zeb Gohar Ayub(Director) Faysal Bank Ltd.
Lt.Gen. (Retd.) Ali Kuli Khan Khattak(Director)
Ch. Sher Muhammad(Director)
Mrs. Shahnaz Sajjad Ahmad(Director)

Yarn Kgs 371,453 3,373,705
172
Baig Spinning Mills Ltd.
F-225, Textile Avenue, Street No. 5, S.I.T.E., Karachi.
Dr. Mirza Ikhtiar Baig(Chairman / C.E.O.) Bank Al-Habib Ltd. M/s. Hyder Bhimji & Co.
Mirza Mukhtar Baig(Director) Bank Al-Falah Ltd.
Mrs. Noureen Baig(Director)
Mr. Mohammad Ali Aziz(Director)
Mrs. Parveen Zafar(Director)
Mrs. Nasreen Tahir(Director)
Mr. M. Ishtiaq Baig(Director)

Ring Yarn Kgs 4,700,000 300,000
Aotocoro Yarn Kgs 1,225,000 98,000
Bhanero Textile Mills Ltd.

Umer House, 23/1, Sector 23, S.M.Farooq Road, Korangi Industrial Area, Karachi.
Mr. Mohammad Salim(Chief Executive) Citi Bank N. A. M/s. Mushtaq & Co.
Mr. Khurram Salim(Director) Habib Bank Ltd.
Mr. Mohammad Shaheen(Director) Standard Chartered Bank (Pakistan) Ltd.
Mr. Faisal Shakeel(Director) HSBC Bank Middle East Ltd.
Mr. Mohammad Sharif(Director) United Bank Ltd.
Mr. Muhammad Amin(Director) Dubai Islamic Bank Ltd.
Mr. Bilal Sharif(Director) Meezan Bank Ltd.
Date of Annual General Meeting 23rd October , 2009 Face Value Rs. 10.00

Yarn Kgs 23,200,746 26,226,279
Fabric Sq.Meter 26,166,485 24,985,060
173
Bilal Fibres Ltd.
B-403, 4th Floor, City Tower, Main Boulevard, Gulberg-II, Lahore.
Mian Habib Ullah(Chairman) Bank Of Punjab M/s. Mushtaq & Company
Mr. Naeem Omer(Chief Executive) Meezan Bank Ltd.
Mian Muhammad Saleem Umer(Director) Silk Bank Ltd.
Mr. Muhammad Ashgar(Director) NIB Bank Ltd.
Mr. Hafeez Ullah(Director)
Mr. Muhammad Zubair(Director)
Mr. Amjad Ali(Director)

yarn Kgs 12,610,305 11,974,308
Blessed Textiles Ltd.

Umer Chembers 23/1, Sector 23, S.M.Farooq Road, Korangi Industrial Area, Karachi.
Mr. Mohammad Shaheen(Chief Executive) HSBC Bank Middle East Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Khurram Salim(Director) Dubai Islamic Bank Ltd.
Mr. Faisal Shakeel(Director) MCB Bank Ltd.
Mr. Mohammad Sharif(Director) Bank Al-Habib Ltd.
Mr. Mohammd Salim(Director) Meezan Bank Ltd.
Mr. Muhammad Amin(Director) United Bank Ltd.
Mr. Bilal Sharif(Director)

yarn Kgs 20,413,000 18,689,000
fabric Meters 17,483,076 23,892,163
174
Brothers Textile Mills Ltd.
135, Upper Mall, Lahore.
Mian Muhammad Aslam Bashir(Chief Exec. Offic National Bank of Pakistan M/s. Kaleem & Co.
Mrs. Farah Aslam(Director) MCB Bank Ltd.
Mrs. Memoona Idrees(Director) NIB Bank Ltd.
Mian Muhammad Furqan Idrees(Director)
Mian Muhammad Omer Idrees(Director)
Mrs. Mehr Omer(Director)
Syed Haroon Rashid (NIT)(Director)

yarn Kgs 5290708 -
Chakwal Spinning Mills Ltd.

Kashana-e-Yousaf, Khawaja Street, Chakwal.
Khawaja Mohammad Jahangir(Chief Executive) Silk Bank Ltd. M/s. Hameed Khan & Co.
Khawaja Mohammad Tanveer(Director) National Bank Of Pakistan
Khawaja Mohammad Javed(Director) Askari Commercial Bank Limited
Khawaja Mohammad Kaleem(Director) Standard Chartered Bank Ltd.
Khawaja Mohammad Nadeem(Director) Habib Metropolitan Bank Ltd.
Khawaja Mohammad Naveed(Director) KASB Bank Ltd.
Mr. Mohammad Aman(Director)

Yarn Kgs 10,610,970 8,271,004
175
Chenab Ltd.
Nishatabad, Faisalabad.
Mian Muhammad Latif(Chief Executive) National Bank Of Pakistan M/s. Avais Hyder Liaquat Nauman
Mian Muhammad Javaid Iqbal(Director) Habib Bank Limited
Mr. Muhammad Naeem(Director) Allied Bank Ltd.
Mr. Muhammad Faisal Latif(Director) Atlas Bank Ltd.
Mr. Muhammad Farhan Latif(Director) Askari Bank Ltd.
Mr. Muhammad Rizwan Latif(Director) Al-Baraka Islamic Bank B.S.C.(E.C.)
Mr. Muhammad Zeeshan Latif(Director) Bank Al-Falah Ltd.

Fabrics Mtrs 9,000,000 6,342,515
Made ups Mtrs 59,000,000 41,005,004
Garments Mtrs 3,500,000 2,515,450
Colony Mills Ltd. (Colony Textile Mills Ltd.)

M. Ismail Aiwan-i-Science, Shahrah-e-Jalaluddin Roomi, Ferozepur Road, Lahore.
Mr. Fareed M. Sheikh(Chairman/C.E.) Silk Bank Ltd. M/s. Naveed Zafar Hussain Jaffery & Co.
Mr. Muhammad Farooq(Director) Soneri Bank Ltd.
Syed Arif Hussain(Director) Faysal Bank Ltd.
Mr. Muhammad Azam Barki(Director) National Bank Of Pakistan
Mr. M. Akram Qureshi(Director) Faysal Bank Ltd.
Malik Sohail Ahmad(Director) The Bank Of Punjab
Mr. Bilal Ahmed Khan Niazi(Director) Habib Bank Ltd.

Yarn Kgs 56,192,069 54,970,223
176
Crescent Fibers Ltd. (Crescent Boards Ltd.)
104, Shadman 1, Lahore-54000
Mr. Khawar Maqbool(Chairman) Natioanl Bank of Paksitan M/s. Ebrahim & Co.
Mr. Imran Maqbool(Chief Executive) MCB Bank Ltd.
Mr. Humayoon Maqbool(Director) Habib Bank Ltd.
Mr. Nadeem Maqbool(Director)
Mr. Riaz Masood(Director)
Mr. Shahid Riaz(Director)
Mr. Iqbal Ismail(Director)

Yarn kgs. 16,424,980 11,967,317
D.M. Textile Mills Ltd.

Westridge, Rawalpindi.
Mr. Habib Ullah(Chairman & C.E.) NIB Bank Ltd. M/s. Riaz Ahmed & Co.
Mr. Hussain Ahmed Qureshi(Director) Silk Bank Ltd.
Rao Khalid Pervez(Director) The Royal Bank of Scotland Ltd.
Mian Muhammad Saleem Omer(Director) National Bank of Pakistan
Mian Naeem Omer(Director)
Syed Obaid ul Haq(Director)
Mr. Shahid Anwar (NIT)(Director)

Yarn Kgs 10,958,899 9,371,039
177
D.S. Industries Limited
20-K, Gulberg-II, Lahore.
Mr. Pervez Ahmed(Chief Executive) M/s. Harwath Hussain Chaudhury & Co,
Mr. Ali Pervez Ahmed(Director) MCB Bank Ltd.
Mr. Hassan Ibrahim Ahmed(Director) Dawood Islamic Bank Ltd.
Mr. Suleman Ahmed(Director) Habib Bank Ltd.
Mr. Atta ur Rehman(Director) Askari Bank Ltd.
Mr. Muhammad Yousuf(Director) KASB Bank Ltd.
Mr. Muntazir Mehdi(Director) Meezan Bank Ltd.

Yarn Kgs 10,877,437
Dar Es Salaam Textile Mills Ltd.

63-B-1, Gulberg-III, Lahore.
Mrs. Nilofar Mukhtar(Chairperson) Bank Al-Falah Ltd. M/s. Hassan Naeem & Co.
Mr. Faisal Mukhtar(Chief Executive) Standard Chartered Bank ( Pakistan) Ltd.
Ms. Abida Mukhtar(Director) United Bank Ltd.
Sh. Parvez Ashraf(Director) KASB Bank Ltd.
Mr. Zulfiqar Ahmad Malik(Director) The Bank of Punjab
Mrs. Mahwesh Faisal Mukhtar(Director) Faysal Bank Ltd.
Mr. Firasat Ali (N.I.T)(Director)

Yarn Million Kgs 7,824 6,966
178
Data Textiles Ltd.
3-A, Race View Jail Road, Lahore.
Mr. Raheel Akhtar(Chief Executive) Albaraka Islamic Investment Bank B.Sc (E.C) M/S Rafaqat Mansha Mohsin Dossani Masoom &
Mr. Umer Sadik(Director) National Bank Of Pakistan
Mr. Shahid Saleem(Director) NIB Bank Ltd.
Mr. Muhammad Ayub Khan(Director) Royal Bank of Scotland
Mr. Nadeem Zar(Director)
Mr. Asif Rahim Khan(Director)
Mr. Shamim Ahmed Khan(Director)

yarn Kgs
Dawood Lawrencepur Ltd. (Dawod Coton Mills)

35-A, Shahrah-e-Abdul Hameed Bin Badees (Empress Road), Lahore.
Mr. Shahzada Dawood(Chairman) MCB Bank Ltd. M/s. Moochhala Gangat & Co.
Mr. Inam-ur-Rehman(Chief Executive) Habib Metropolitan Bank Ltd.
Mr. A. Samad Dawood(Director) Habib Bank Ltd.
Mr. Haroon Mahenti(Director) Mezan Bank Ltd.
Mr. Isar Ahmad(Director) Bank Al-Habib Ltd.
Mr. Shahid H. Paracha(Director)
Mr. S. M. Asghar(Director)

yarn Kgs 25,519,000 229,000
Cloth Sq. meters 5,060,000 796,000
Polyester Yarn Kgs. 1,400,000 -
179
Dewan Farooque Spinning Mills Ltd.
Finance & Trade Centre, Block-A, 7th Floor, Shahrah-e-Faisal, Karachi.
Dewan Mohammad Yousuf Farooqui(Chairman) MCB Bank Ltd. M/s. Feroze Sharif Tariq & Co.
Dewan Abdul Baqi Farooqui(Chief Executive) United Bank Ltd.
Dewan Asim Mushtaq Farooqui(Director) Standard Chartered Bank (Pakistan) Ltd.
Dewan Abdullah Ahmed Farooqui(Director) Silk Bank Ltd.
Dewan Abdul rehman Farooqui(Director) Mybank Ltd.
Mr. Haroon Iqbal(Director)
Mr. Abrar Manzoor(Director)

Yarn Lbs. 10,220,000 19,418,000
Dewan Khalid Textile Mills Ltd.

Dewan Mohammad Yousuf Farooqui(Chairman) Habib Bank Ltd. M/s. Feroze Sharif Tariq & Co.
Dewan Abdul Baqi Farooqui(Chief Executive) MCB Bank Ltd.
Dewan Asim Mushfiq Farooqui(Director) Bank Alfalah Ltd.
Dewan Abdul Rehman Farooqui(Director) Askari Commercial Bank Ltd.
Dewan Abdullah Ahmed Farooqui(Director) Silk Bank Ltd.
Mr. Abrar Manzoor(Director)

Yarn Kgs 7,600,000 6,825,663
180
Dewan Mushtaq Textile Mills Ltd.
Finance & Trade Centre, Block-A, 8th Fllor, Shahrah-e-Faisal, Karachi.
Dewan Mohammad Yousuf Farooqui(Chairman) MCB Bank Ltd. M/s. Feroze Sharif Tariq & Co.
Dewan Abdullah Ahmed Farooqui(Chief Executiv Habib Bank Ltd.
Dewan Abdul Baqi Farooqui(Managing Director) Silk Bank Ltd.
Dewan Asim Mushfiq Farooqui(Director)
Dewan Abdul Rehman Farooqui(Director)
Mr. Aziz-ul-Haque(Director)

Yarn Kgs 10,522,629 9,492,977
6
Dewan Textile Mills Ltd.

Dewan Mohammd Yousuf Farooqui(Chairman) Silk Bank Ltd. M/s. Faruq Ali & Co.
Dewan Abdul Baqi Farooqui(Chief Executive) Habib Bank Ltd.
Dewan Abdul Rehman Farooqui(Director) Standard Chartered Bank (Pakistan) Ltd.
Dewan Asim Mushfiq Farooqui(Director) United Bank Ltd.
Dewan Muhammad Hamza Farooqui(Director) NIB Bank Ltd.
Mr. Haroon Iqbal(Director) Bank Al-Falah
Mr. Aziz-ul-Haque(Director) Meezan Bank Ltd.

Yarn Kgs 9,680,000 16,793,330
181
Din Textile Mills Ltd.
Din House, 35-A/1, Lalazar Area, Opp. Beach Luxury Hotel, M.T.Khan Road, Karachi
Shaikh Muhammad Muneer(Chairman/Chief Exe Standard Chartered Bank ( Pakistan) Ltd. M/s. Mushtaq & Co.
Mr. Shahzad Naseer(Director) Habib Metorpolitan Bank Ltd.
Mr. Irfan Muneer(Director) Citibank N.A.
Shaikh Muhammed Pervez(Director) Allied Bank Ltd.
Shaikh Muhammad Naseer(Director) Braclays PLC, Pakistan
Shaikh Muhammad Tanveer(Director) Faysal Bank Ltd.
Mr. Farhad Shaikh Mohammad(Director) Meezan Bank Ltd.

Yarn Kgs 20,872,091 19,687,033
Elahi Cotton Mills Ltd.

270-Sector I-9, Industrial Area, Islamabad.
Mr. Mahboob Elahi(Chief Executive) M/s. BDO Ebrahim & Co.
Mr. S.M.Raunaq-ud-Din(Director)
Mr. Mahfooz Elahi(Director)
Mr. Mahmood Elahi(Director)
Mr. Naveed Akhtar(Director)
Mr. Abdul Rasheed(Director)
Mr. Farrukh Ahmed(Director)

Yarn Lbs 4,679,483 3,128,250
182
Ellcot Spinning Mills Ltd.
Nagina House, 91-B-1, M.M.Alam Road, Gulberg-III, Lahore.
Shaikh Enam Ellahi(Chairman) M/s. Rahman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Syed Mohsin Gilani(Director)
Mr. Shahzada Ellahi Shaikh(Director)
Mr. Shafqat Ellahi Shaikh(Director)
Mr. Shaukat Elahi Sheikh(Director)
Mr. S. M. Yusuf(Director)
Mr. Jamal Nasim (NIT)(Director)

yarn Kgs 13,654,540 11,703,132
Power MW hours 121,414 65,983
Faisal Spinning Mills Ltd.

Umer House, 23/1, Sector 23, S.M.Farooq Road, Korangi Industrial Area, Karachi.
Mr. Mohammad Sharif(Chief Executive) Habib Bank Ltd. M/s. Mushtaq & Co.
Mr. Faisal Shakeel(Director) Citibank Na
Mr. Adil Shakeel(Director) United Bank Limited
Mr. Khurram Salim(Director) Standard Chartered Bank (Pakistan) Ltd.
Mr. Mohammad Salim(Director) Braclays PLC, Pakistan
Mr. Mohammad Shaheen(Director) HSBC Bank Middle East Ltd.
Mr. Bilal Sharif(Director) Meezan Bank Ltd.

yarn kgs 11,434,172 11,004,531
fabric Meters 41,107,384 41,891,009
183
Fateh Sports Wear Ltd.
Mirpurkhas Road, Hyderabad.
Mr.Rauf Alam(Chairman/Chief Exec.) Allied Bank Of Pakistan Ltd. M/s. Tanwir Arif & Co.
Mr. Faraz Alam(Director) Askari Commercial Bank Ltd.
Mrs. Najma Roshan(Director) MCB Bank Ltd
Mr. Muhammad Mohsin(Director)
Mr. Muhammad Naveed(Director)
Mr. Saeed Alam(Director)
Mr. Aftab Alam(Director)

Sports garment
Fateh Textile Mills Ltd.

A/4, Hali Road, S.T.I.T.E., Hyderabad
Mr. Gohar Ullah(Chairman) Standard Chartered Bank M/s. Rahim Jan & Co.
Mr. Humayun Barkat(Chief Executive) MCB Bank Ltd
Mr. Asad Ullah Barkat(Director) National Bank Of Pakistan
Mr. Maqsood Ahmed Khan(Director) Deutsche Bank
Mr. Muhammad Saleem(Director) Askari Commercial Bank Ltd.
Mr. Muhammad Ayub (NIT)(Director) Habib Bank Ltd.
Mr. Soofi Taj Muhammad(Director) Allied Bank Of Pakistan Ltd.

yarn Kgs 9,400,000 -
184
Fatima Enterprises Ltd.
Solvent Plant 487-A, Mumtazabad, Vehari Road, Multan.
Sheikh Nishat Ahmad(Chief Executive) MCB Bank Ltd M/s. Ahmad Mushir & Co.
Mr. Muhammad Idrees(Director) Allied Bank Of Pakistan Ltd.
Malik Imam Bukhsh(Director) Soneri Bank Limited
Mr. Muhammad Saeed Khan(Director) Askari Commercial Bank Limited
Sheikh Zafar Iqbal(Director) Habib Bank Ltd.
Mr. Muhammad Islam(Director) The Royal Bank of Scottland Ltd.
Mr. Ashar Fazal(Director) Bank Al-Falah Ltd.

Spinning Kgs 20,015,668 14,651,983
Weaving Meters 38,602,478 37,070,908
Oil M. Tons 21,568 3,400
Fawad Textile Mills Ltd.

6 - F, Block 'H' Gulberg II, Lahore.
Sheikh Umar Farooq(Chairman/ C.E.) Soneri Bank Ltd. M/s. M. Yousuf Adil Saleem & Co.
Mrs. Najma Firdous(Director) Habib Bank Ltd.
Mr. Aamir Rasool Khan(Director) Meezan Bank Ltd.
Mr. Khalid Javaid Khan(Director) The Bank Of Punjab
Mr. Kashif Rasool Khan(Director) Pakistan Kuwait Investment Co. (Pvt) Ltd.
Mr. Muhammad Imran Khan(Director)
Mr. Saleem Akhter(Director)

Yarn kgs 5,143,739 3,281,685
185
Fazal Cloth Mills Ltd.
1st Floor, 16 Bank Square, Lahore
Sheikh Naseem Ahmed(Chairman & C.E.) MCB Bank Ltd. M/s. M. Yousaf Adil Saleem & Co.
Mr. Fahd Mukhtar(Director) Habib Bank Ltd.
Mr. Faisal Ahmed Mukhtar(Director) Askari Commercial Bank Ltd.
Mr. Amir Naseem Sheikh(Director) United Bank Ltd.
Mr. Rehman Naseem(Director) National Bank Of Pakistan
Mr. Firasat Ali (NIT)(Director) Soneri Bank Ltd.
Mr. Fazal Ahmed Sheikh(Director) Meezan Bank Ltd.

Yarn Kgs. 31,341,113 52,203,710
Fazal Textile Mills Ltd.

LA-2/B, Block-21, Rashid Minhas Road, Federal 'B' Area, Karachi.
Mr. M. Yunus A. Aziz(Chairman) Royal Bank of Scotland M/s. Hyder Bhimji & Co.
Mr. Sohail M.Yunus(Chief Executive) Citibank N.A.
Mr. Javed M. Yunus(Director) Habib Bank Ltd.
Mr. Ilyas Ismail(Director) Bank Al-Falah Ltd.
Mr. Imran M. Yunus(Director) Bank Al-Habib Ltd.
Miss Maryam Razzak(Director) Habib Metropolitan Bank Ltd.
Mr. Muhammad Ali A. Razak(Director) Standard Charterd Bank

Spinning Lbs 48,990,026 48,739,567
Knitting Kgs 1,485,000 740,923
186
Gadoon Textile Mills Ltd.
APTMA House, Tehkal Payan, Jamrud Road, Peshawar.
M. Younus A. Aziz Tabba(Chairman) Natioanl Bank of Paksitan M/s.M. Yousuf Adil Salim & Co.
Mr. Sohail M. Yunus Tabba(Chief Executive) Citibank N.A.
Mr. Ilyas Ismail Moten(Director) Braclays PLC, Pakistan
Mr. M. Javed M. Yunus Taba(Director) United Bank Ltd.
Miss Marium Razzak(Director) Bank Al-Habib Ltd.
Mr. Muhammad Ali A. Razzak Tabba(Director) Habib Metropolitan Bank Ltd.
Mr. Muhammad Rafiq (NIT)(Director) Bank Alfalah Ltd.

Yarn Kgs 77,773,484 38,006,575
Ghazi Fabrics International Ltd.

8-C, Block E-III, Gulberg-III, Lahore.
Mr. Mohammad Arshad Chaudhry(Chairman/ C.EHabib Bank Ltd. M/s. Qadeer & Co.
Mrs. Azra Yasmin(Director) United Bank Ltd.
Mr. Rizwan Arshad(Director)
Mr. Kamran Arshad(Director)
Miss. Fariha Arshad(Director)
Miss. Wajeeha Arshad(Director)
Mr. Muhammad Tariq(Director)

yarn Kgs. - 15,951,196
Cloth Sq. Meters - 62,053,270
187
Glamour Textile Mills Ltd.
11 - K. M, Manga - Raiwind Road, Kasur.
Mr. Azhar Elahi(Chairman/ C.E.) Standard Chartered Bank Ltd. M/s. Mushtaq & Co.
Mr. Asad Elahi(Director) Soneri Bank Ltd
Mr. Ather J. Elahi(Director)
Mr. Mansoor Elahi(Director)
Mrs. Noureen Asad(Director)
Mrs. Shafqat Azhar(Director)
Mrs. Mehnaz Ather Elahi(Director)

yarn Kgs 6,785,551 6,633,236
Globe Textile Mills (OE) Ltd.

105, Ibrahim Trade Tower, Shahrah-e-Faisal, Karachi.
Mr. Arif Haji Habib(Chief Executive) Askari Commercial Bank Ltd. M/s. Hyder Bhimji & Co.
Ms. Farzana Arif(Director) Bank Al-Falah Ltd.
Mst. Gul Bano Haji Habib(Director)
Mr. Misbah Arif(Director)
Mr. Saman Arif(Director)
Ms. Humaira Arshad(Director)
Mr. Arshad Arif(Director)

Yarn Kgs 1,905,091 1,808,838
188
Globe Textile Mills Ltd.
105, Ibrahim Trae Tower, Shahrah-e-Faisal, Karachi.
Mr. Arif Haji Habib(Chief Executive) MCB Bank Ltd. M/s. Hyder Bhimji & Co.
Ms. Farzana Arif(Director) Askari Commercial Bank Ltd.
Ms. Sameera Yasin Saya(Director)
Miss. Farzeen Fazl-e-Umer(Director)
Mst. Gul Bano Haji Habib(Director)
Miss. Misbah Arif(Director)
Mr. Arshad Arif(Director)
Date of Annual General Meeting 26th November , 2009 Face Value Rs. 10.00

Yarn Kgs - -
Gul Ahmed Textile Mills Ltd.

Plot No.82, Main National Highway, Landhi, Karachi.
Mr. Bashir Ali Mohammed(Chairman/Chief Exec. Allied Bank Of Pakistan Hyder Bhimji & Co.
Mr. Siraj Kassam Teli(Director) United Bank Ltd.
Mr. Muhammad Junaid(Director) National Bank Of Pakistan
Mr. Ziad Bashir(Director) NIB Bank Ltd.
Mr. Zain Bashir(Director) Bank Al-Habib Ltd.
Mr. Abdul Razak Teli(Director) Meezan Bank Ltd.
Mr. Abdul Aziz Yousuf(Director) The Royal Bank of Scotland Ltd.

Cloth Sq. meters 118,870,000 85,180,000
Yarn Kgs 48,227,000 37,857,000
189
Gulistan Spinning Mills Ltd.
2nd Floor, Finlay House, I.I.Chundrigar Road, Karachi.
Mr. Abdul Shakoor(Chairman) National Bank Of Pakistan M/s. Mushtaq & Co.
Mr. Naseer Ahmed(Chief Executive) Habib Bank Ltd.
Mr. Tanveer Ahmed(Director) United Bank Ltd.
Mr. Muhammad Younus(Director)
Mr. Sohail Maqsood(Director)
Mr. Muhammad Abdullah(Director)
Mr. Riaz Ahmad(Director)
Ordinary Shares Bonus (%) 10 Average Price in 2009 Rs. 5.56

Yarn Kgs 8,029,854 7,416,142
Gulistan Textile Mills Ltd.

Mr. Abdul Shakoor(Chairman) Habib Bank Ltd. M/s. Mushtaq & Co.
Mr. Naseer Ahmed(Chief Executive) National Bank Of Pakistan
Mr. Tanveer Ahmed(Director) United Bank Ltd.
Mr. Sohail Maqsood(Director) Askari Comm. Bank Ltd.
Mr. Muhammad Tanveer(Director) MCB Bank Ltd.
Mr. Muhammad Abdullah(Director) Allied Bank Ltd.
Mr. Riaz Ahmad(Director) Bank Al-Falah

yarn Kgs 41,050,000 399,345,909
190
Gulshan Spinning Mills Ltd.
Mr. Abdul Shakoor(Chairman) United Bank Ltd. M/s. Hameed Chaudhry & Co.
Mr. Tanveer Ahmed(Chief Executive) National Bank Of Pakistan
Mr. Riaz Ahmed(Director) Habib Bank Ltd.
Mr. Naseer Ahmed(Director) Faysal Bank Ltd.
Mr. Mohammad Abdullah(Director) Bank Alfalah Ltd.
Mr. Sohail Maqsood(Director) The Bank of Punjab
Mr. Aziz Hussain(Director) MCB Bank Ltd.

Yarn Kgs 18,140,662 17,666,666
Hafiz Textile Mills Ltd.

97, Alliance Building, 2nd Floor, Moolji Street, Mereweather Tower, Karachi.
Mr. Fakhruddin Usmani(Chief Executive) Habib Bank Ltd. M/s. Moochhala Gangat & Co.
Mr. Quamruddin Usmani(Director) Habib Metropolitan Bank Ltd.
Mr. Mohammad Farooq Usmani(Director) Natioanl Bank of Paksitan
Mr. Mahmood Wali Muhammad(Director) NIB Bank Ltd.
Mr. Muhammad Atiq(Director)
Mr. Ali Muhammad Usmani(Director)
Mr. Muhammad Shahzad Fakir(Director)

Yarn Kgs. 119,504 -
191
Haji Mohammad Ismail Mills Ltd.
408-Commerce Centre, Hasrat Mohani Road, Karachi.
Mr. Najeeb Mushtaq Vohra(Chief Executive) Askari Commercial Bank Ltd. M/s. A. R. Khan & Co.
Mr. Ikram Ahmed(Director) NIB Bank Ltd.
Mr. Mohammad Irfan(Director) National Bank Of Pakistan
Mr. Wazir Khan(Director)
Mr. Mohammad Sadiq(Director)
Mr. Essa Khan(Director)
Mr. Muhammad Sarfraz(Director)

Yarn Million Kgs - -
Hajra Textile Mills Ltd.

45-50 Industrial Area, Gulberg-III, Lahore.
Mr. Noor Ellahi(Chairman) Allied Bank Of Pakistan Ltd. M/s. Munaf Yusuf & Co.
Mr. M. Hussain Ellahi(Director) The Bank Of Punjab
Mr. Rana Muhammad Saeed(Director) Silk Bank Ltd.
Mr. Ahmed Elahi(Director)
Mr. Salman Yaqub Sheikh(Director)
Mr. Muhammad Shafiq Bhatti(Director)
Mr. Shahid Aziz (NIT)(Director)

yarn Million Kgs 8.400 11,625
192
Hala Enterprises Ltd.
120-E/1, Gulberg III, Lahore
Mr. Tahir Jahangir(Chairman/CE/MD) National Bank Of Pakistan M/s. Horwath Hussain Chaudhary & Co.
Mr. Jillani Jahangir(Director) Faysal Bank Ltd.
Miss. Munizae Jahangir(Director) United Bank Ltd.
Miss. Sulema Jahangir(Director)
Sh. Ijaz Ahmad(Director)
Mr. Abdul Munaf(Director)
Mr. Andrew McMullen(Director)

Cotton yarn Kgs. 1,562,400 939,313
Hamid Textile Mills Ltd.

97-N, Model Town Extension, Lahore.
Mr. Khawar Almas Khawaja(Chairman / C.E.O.) Standard Chartered Bank ( Pakistan) Ltd. M/s. Sarwar Awan & Co.
Mr. Muhammad Zafar Saeed(Director) National Bank Of Pakistan
Mrs. Abida Omar(Director) Bank Al-Falah Ltd.
Mrs. Bushra Khurram(Director) Meezan Bank Ltd.
Mr. Muhammad Alamgir(Director) Silk Bank Ltd.
Mr. Khurram Sattar Malik(Director)
Mr. Abdul Aziz(Director)
Date of Annual General Meeting 22nd October , 2009 Face Value Rs. 10.00

Weaving Th. Sq. meters 9,252 4,258
Spinning Th. Lbs. 8,595 4,186
Note: Failed to hold AGM and
193
Hira Textile Mills Ltd.
44-E/1, Gulberg-III, Lahore.
Mr. Muhammad Umer Virk(Chairman) MCB Bank Ltd. M/s. M. Yousaf Adil Saleem & Co.
Mr. Nadeem Aslam Butt(Chief Executive) NIB Limited
Mr. Umair Umer(Director)
Mrs. Shahnaz Umer(Director)
Mrs. Fatima Nadeem(Director)
Mrs. Sadiya Umair(Director)
Mr. Saeed Ahmed Khan(Director)

Spinning Kgs. 14,953,423 13,754,241
Husein Industries Ltd.

Plot No. HT-8, Landhi Industrial & Trading Estate, Landhi, Karachi
Mr. Aziz L. Jamal(Chairman/Chief Exec.) Habib Bank Ltd. M/s. Hyder Bhimji & Co.
Mrs. Aisha Bai Suleman(Director) Habib Metorpolitan Bank Ltd.
Mr. Hussein Jamal(Director)
Mr. Ahsan Jamal(Director)
Mr. Rashid L.Jamal(Director)
Mr. Akhtar Wasim Dar(Director)
Miss. Hina Abdul Rashid(Director)

Yarn Kgs. 10,444,684 8,213,988
Cloth Th. Sq. meters 7,154 7,694
194
ICC Textiles Ltd.
242-A, Anand Road, Upper Mall, Lahore.
Mr. Shafiq A.Siddiqi(Chief Executive) The Royal Bank of Scotland Ltd. M/s. Anjum Asim, Shahid Rehman
Mr. Tariq Rehman(Director) Faysal Bank Ltd.
Mr. Tahir Rehman(Director) MCB Bank Ltd.
Mr. Usman Haq(Director)
Mr. Haris Noorani(Director)
Mr. Suhail Mannan(Director)
Mr. Javaid S.Siddiqi(Director)

Fabric Sq. meters 4,000,000 3,500,000
Ideal Spinning Mills Ltd.

Room No. 404,405, 4th Floor, Business Centre, Dunally Road, Karachi.
Mr. Nisar Ahmed Sheikh(Chairman) Allied Bank of Pakistan M/s. Riaz Ahmad & Co.
Mr. Mohammad Saeed Sheikh(Chief Executive) Albaraka Islamic Investment Bank
Mr. Shahzad Ahmad(Director) Bank Al-Falah Ltd.
Mr. M. Anwar Sajjad(Director) Bank Al-Habib Ltd.
Mr. Mohammad Arshad(Director) Bank of Punjab
Mr. Saad Ashraf (NIT)(Director) Habib Metropolitan Bank Ltd.
Mr. Amjad Saeed(Director)

Spinning Kgs 5,826,492 6,296,286
Weaving Sq. Mt. 18,712,577 15,908,179
195
Idrees Textile Mills Ltd.
6-C, Ismail Centre, 1st Floor, Central Commercial Area, Bahadurabad, Karachi.
Mr. S. M. Idrees Allawala(Chairman) National Bank Of Pakistan M/s. M. Yusuf Adil Saleem & Co.
Mr. Imran Idrees Allawala(Chief Executive) Soneri Bank Ltd.
Mrs. Saba Kamran(Director) Bank Alfalah Ltd.,
Mr. Kamran Idrees Allawala(Director) Habib Bank Ltd.
Mr. Mansoor Idrees Allawala(Director) Habib Metropolitan Bank Ltd.
Mr. Muhammad Israil(Director) Emirtes Global Islamic Bank Ltd.
Mr. Naeem Idrees Allawala(Director) Silk Bank Ltd.

Yarn Kgs 14,795,745 11,761,725
Indus Dyeing & Manufacturing Co. Ltd.

Room No. 508, 5th Floor, Beaumont Plaza, Civil Lines Quarters,Karachi.
Mian Mohammed Ahmed(Chairman) Soneri Bank Ltd. M/s. Yousuf Adil Saleem & Co.
Mr. Shahzad Ahmed(Chief Executive) Faysal Bank Ltd.
Mr. Imran Ahmed(Director) Meezan Bank Ltd.
Mr. Irfan Ahmed(Director) Bank Al-Falah Ltd.
Mr. Kashif Riaz(Director) Habib Bank Ltd.
Mr. Shafqat Masood(Director)
Mian Riaz Ahmed(Director)

Spinning Yarn Lbs 97,733,267 89,647,782
196
International Knitwear Ltd.
F-2/A ( L ), S.I.T.E. Karachi.
Mr. Naeem Shafi(Chief Executive) Habib Bank Ltd. M/s. Rao & Co.
Mr. Waseem Shafi(Director) Bank Al-Habib Ltd.
Mr. Zahid Ali(Director)
Mr. Qamar Mashkoor(Director)
Mr. Sajid Hussain(Director)
Mr. Muhammad Arshad(Director)
Mr. Iqbal Ahmed Khan(Director)
Ordinary Shares Bonus (%) 7.5 Average Price in 2009 Rs. 16.78

Export Pcs. 400,000 400,000
Dyeing Kgs. 1,800,000 1,800,000
Ishaq Textile Mills Ltd.

Room No. 404, 405, 4th Floor, Business Centre, Dunally Road, Karachi.
Mr. Mohammad Arshad(Chairman) Faysal Bank Ltd. M/s. Riaz Ahmad & Co.
Mr. Nisar Ahmad Sheikh(Chief Executive) Albaraka Islamic Investment Bank B.S.C(E.C)
Mr. Shahzad Ahmad Sheikh(Director) Allied Bank Ltd.
Mr. M. Anwar Sajjad(Director) Bank Alflah Limited
Mr. Mohammad Saeed Sheikh(Director) Bank Al-Habib Limited
Mr. Shoaib Ahmed Khan (NIT)(Director) Habib Bank Ltd.
Mr. Amjad Saeed(Director) United Bank Ltd.

Yarn Kgs. 4,858,000 4,630,115
Cloth Sq. Meters 41,570,493 36,089,058
197
Ishtiaq Textile Mills Ltd.
155 - Napier Road, Karachi.
Dewan Zubair Ahmed Farooqui(Chairman/Chief National Bank Of Pakistan M/s. Faruq Ali & Co.
Dewan Abu Obaida Farooqui(Director) Habib Metorpolitan Bank Ltd.
Dewan Abu Saeed Farooqui(Director) MCB Bank Ltd
Dewan M. Emran Farooqui(Director) Bank Al-Falah Ltd.
Dewan M. Rehan Farooqui(Director)
Dewan M. Rizwan Farooqui(Director)
Dewan M. Uzair Farooqui(Director)

Cotton yarn Kgs. 4,632,000 1,348,827
Island Textile Mills Ltd.

Office No. 8, 8th Floor, Textile Plaza, M. A . Jinnah Road, Karachi.
Mr. Anwar Ahmed Tata(Chairman) Soneri Bank Ltd. M/s. M. Yousuf Adil Saleem & Co.
Mr. Shahid Anwar Tata(Chief Executive) MCB Bank Ltd.
Mr. Adeel Shahid Anwar Tata(Director) Bank Al-Falah Ltd.
Mr. Javed Ahmed(Director) The Royal Bank of Scotland Ltd.
Mr. Kausar Ejaz(Director)
Mr. Ajaz Ahmed Tariq(Director)
Mr. Farooq Advani(Director)

Yarn Kgs 5,372,403 7,617,679
198
J.A. Textile Mills Ltd.
16-C Peoples Colony, Faisalabad.
Mr. Imran Zahid(Chief Executive) Silk Bank Ltd. M/s. Hyder Bhimji & Co.
Miss. Quratul Ain Rehan(Director) United Bank Ltd.
Mr. Jamil Ahmad Tahir(Director) Al-Baraka Islamic Bank B.S.C.(E.C.)
Mr. Muhammad Shehzad(Director) National Bank Of Pakistan
Mr. Shafaqat Ali(Director)
Mr. Riaz Ahmed(Director)
Mr. Muhammad Zulqurnain(Director)

Yarn Kgs 6,894,209 4,833,030
J.K. Spinning Mills Ltd.

3-1/A Peoples Colony, Faisalabad.
Mr. Jawed Anwar(Chairman/ C.E.) Al-Baraka Islamic Bank B.S.C.(E.C.) M/s Zahid Jamil & Co.
Mr. Shaiq Jawed(Director) Askari Commercial Bank Ltd.
Mrs. Farhat Jehan(Director) Standard Chartered Bank (Pakistan) Ltd.
Mrs. Nageen Faiq(Director) NIB Bank Ltd.
Mrs. Samina Abid(Director) United Bank Limited
Syed Hussain Shahid Mansoor Naqvi(Director) The Bank Of Punjab
Mr. Faiq Jawed(Director)

Yarn Kgs 10,031,126 10,118,054
199
Janana De Malucho Textile Mills Ltd.
Habibabad, Kohat, Khyber Pukhtoonkhua
Mr. Raza Kuli Khan Khattak(Chairman) Bank Al-Falah Ltd. M/s. Hameed Chaudhri & Co.
Lt. Gen. (Retd.) Ali Kuli Khan Khattak(Chief Exec National Bank Of Pakistan
Mrs. Zeb Gohar Ayub Khan(Director) Habib Bank Ltd.
Dr. Shaheen Kuli Khan(Director) United Bank Ltd.
Mrs. Shenaz Sajjad Ahmed(Director)
Mr. Mushtaq Ahmad Khan (FCA)(Director)
Mr. Ahmad Kuli Khan Khattak(Director)

Yarn Kgs 11,790,623 22,016,076
Jubilee Spinning & Weaving Mills Ltd.

40-A, Zafar Ali Road, Gulberg-V, Lahore.
Mr. Shams Rafi(Chief Executive) Habib Metropolitan Bank Ltd. M/s. Riaz Ahmed & Co.
Mr. Shaukat Shafi(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Umer Shafi(Director) National Bank Of Pakistan
Mr. Mohammed Arshad(Director) Habib Bank Ltd.
Mr. Masood A. Shaikh(Director) Bank Al-Habib Ltd.
Mr. Salman Rafi(Director) NIB Bank Ltd.
Mr. Ahmed Shafi(Director) Emirtes Global Islamic Bank Ltd.

yarn Kgs 2,258,179 1,390,622
Power Plant KW 1,053 654
200
Karim Cotton Mills Ltd.
14/E, 2nd Floor, Writers Chambers, Mumtaz Hassan Road, Karachi.
Mr. Muhammad Idrees Haji Ebrahim(Chief Execu MCB Bank Ltd. M/s. Rao & Company
Mr. Abdul Wahid Umer(Director) Habib Bank Ltd.
Mr. Abu Talib Muhammad Yunus(Director)
Mr. Zain ul Abid Muhammad Yunus(Director)
Mr. Muhammad Mudassir Iqbal (NIT)(Director)
Mr. Muhammad Arif Abdullah(Director)
Mr. Abdul Wahab Haji Muhammad(Director)

Due to sale of compamy, No Production
Khalid Siraj Textile Mills Ltd.

467-M Block, Model Town, Extension, Lahore.
Mian Tayyab Iqbal(Chief Executive) Bank Alfalah Ltd. M/s. Kaleem & Co.
Kh. Iftikhar-ud-Din(Director) National Bank Of Pakistan
Mian Tahir Iqbal(Director)
Miss. Rabia Iqbal(Director)
Miss. Tayyaba Iqbal(Director)
Mrs. Rukhsana Arif(Director)
Mr. Muhammad Asif (NIT)(Director)

yarn Kgs 4,668,224 2,420,234
201
Khurshid Spinning Mills Ltd.
69-G, Gulberg-III, Lahore.
Khawaja Khurshid Anwar(Chairman) Albaraka Islamic Investment Bank M/s. Hussain Chaudhry & Co.
Khawaja Amer Khurshid(Chief Executive) Citibank N.A.
Khawaja Aized Amer(Director) The Bank Of Punjab
Khawaja Asem Khurshid(Director) Standard Chartered Bank
Khawaja Shahid Amin Sethi(Director) Meezan Bank Ltd.
Miss Jabeen Khurshid(Director) Habib Metropolitan Bank Ltd.
Mrs. Sharmeen Asem(Director) Habib Bank Ltd.

Yarn Million Kgs - 2,498
Khyber Textile Mills Ltd.

Baldher, District Haripur, Khyber Pukhtoonkhua
Chaudhry M. Eusuff(Chairman) M/s. Hafeezullah & Co.
Mr. Farid M. Jadoon(Chief Executive)
Mr. Abdul Hamid Khan(Director)
Mrs. Sandra Jadoon(Director)
Mr. M. Aurangzeb Khan(Director)
Mr. Omer Farid Jadoon(Director)
Mr. M. Bahauddin(Director)

yarn Kgs 4,418,024 -
202
Kohat Textile Mills Ltd.
APTMA House, Tehkal Payan Jamrud Road, Peshawar. Kyber Pukhtoonkhua
Mr. Anwar Saifullah Khan(Chairman) The Bank of Punjab M/s. Hameed Chaudhry & Co.
Mr. Osman Saifullah Khan(Chief Executive) United Bank Limited
Mrs. Kulsum Saifullah Khan(Director) National Bank of Pakistan
Mr. Jehangir Saifullah Khan(Director) Albaraka Islamic Investment Bank
Mr. Assad Saifullah Khan(Director) First National Bank Mudaraba
Mr. Asif Saifullah Khan(Director)
Mrs. Hoor Yousafzai(Director)

yarn spindles Kgs. 14,114,000 14,542,000
Kohinoor Industries Ltd.

Mr. M. Naseem Saigol(Chairman) Allied Bank Of Pakistan Ltd. M/s. Manzoor Hussain Mir & Co.
Mr. M. Azam Saigol(Chief Executive) Askari Commercial Bank Ltd.
Mr. Muhammad Athar Rafiq(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mrs. Razia Begum(Director) United Bank Ltd.
Mr. Muhammad Rafi Khan(Director) National Bank Of Pakistan
Mr. Muhammad Omer Farooq(Director) Bank Alfalah Ltd.
Mr. Rashid Ahmed Javaid(Director) Habib Bank Ltd.

Yarn, Production Closed Kgs - -
203
Kohinoor Mills Ltd.
8th K.M. Manga Raiwind Road, District Kasur.
Mr. Aamir Fayyaz Sheikh(Chairman / C.E.O.) Allied Bank Of Pakistan Ltd. M/s. Riaz Ahmad & Co.
Mr. Salman Akram Raja(Chief Executive) MCB Bank Ltd.
Mr. Rashid Ahmed(Director) Natioanl Bank of Paksitan
Mr. Ali Fayyaz Sheikh(Director) United Bank Ltd.
Syed Mohsin Raza Naqvi(Director) Royal Bank of Scotland Ltd.
Mr. Asad Fayyaz Sheikh(Director) Faysal Bank Ltd.
Mr. Aamir Amin (NIT)(Director) Habib Bank Ltd.

Cloth Sq. Meters 48,892,878 45,024,713
Dyeing Linear meters 30,000,000 29,099,936
Knitting 50 Dozs 8,760,000 4,330,422
Kohinoor Spinning Mills Ltd.

Kashana-e-Yousaf, Khawaja Street, Chakwal
Khawaja Mohammad Naveed(Chief Executive) Habib Metropolitan Bank Limted M/s. Hameed Khan & Co.
Khawaja Mohammad Jahangir(Director) MCB Bank Ltd.
Khawaja Mohammad Nadeem(Director) National Bank Of Pakistan
Khawaja Mohammad Javed(Director) Standard Chartered Bank Ltd.
Khawaja Mohammad Tanveer(Director)
Khawaja Mohammad Kaleem(Director)
Mr. Mohammad Hamza Yousaf(Director)

Yarn Kgs 25,588,535 26,817,226
204
Kohinoor Textile Mills Ltd.
42-Lawrence Road, Lahore.
Mr. Tariq Sayeed Saigol(Chairman) Albaraka Islamic Investment Bank B.S.C(E.C) M/s. Riaz Ahmed & Co.
Mr. Taufique Sayeed Saigol(Chief Executive) Faysal Bank Ltd.
Mr. Kamil Taufique Saigol(Director) Meezan Bank Ltd.
Mr. Waleed Tariq Saigol(Director) United Bank Ltd.
Mr. Syed Tariq Saigol(Director) MCB Bank Ltd
Mr. Zamiruddin Azar(Director) Allied Bank Of Pakistan Ltd.
Mr. Abdul Hai Mehmood Bhaimia(Director) Askari Commercial Bank Ltd.

Spinning THousand Kgs. 65,677 61,616
Weaving Thousands Sq. Metres 84,875 68,271
Power Plant Mega Watts 262,099 100,003
Landmark Spinning Industries Ltd.

1st Floor, Cotton Exchange Building I. I. Chundrigar Road, Karachi.
Mr. Akber Ali Hashwani(Chairman/ C.E.) Metropolitan Bank Ltd. M/s. Feroze Sharif Tariq & Co.
Mrs. Farieha A. Hashwani(Director) National Bank Of Pakistan
Mrs. Sultana A. Hashwani(Director) Habib Bank Ltd.
Mr. Nizam A. Hashwani(Director)
Syed Raza Abbas Jafferi(Director)
Mr. Abdullah A Hashwani(Director)
Mr. Amin A. Hashwani(Director)

yarn Kgs 6,152,000 0
205
Mahmood Textile Mills Ltd.
Mehr Manzil, Lohari Gate, Multan.
Khawaja Muhammad Masood(Chairman) Habib Bank Ltd. M. Yousuf Adil Saleem & Co.
Khawaja Muhammad Iqbal(Chief Executive) United Bank Ltd.
Mrs. Mehr Fatima(Director) MCB Bank Ltd.
Khawaja Muhammad Ilyas(Director) Allied Bank Ltd.
Khawaja Muhammad Younus(Director)
Mr. Jalal-Uddin Roomi(Director)
Mr. Muhammad Muzafar Iqbal(Director)

yarn Kgs. 31,616,586 31,003,601
Cloth Sq. Meters 19,092,957 17,856,211
Power Mega Watts 19 12
Maqbool Textile Mills Ltd.

24/3 Tufail Road, Multan Cantt:
Mian Tanvir Ahmad Sheikh(Chairman/ C.E.) Bank Al-Habib Ltd. M/s. M. Yousuf Adil Saleem & Co.
Mrs. Romana Tanvir Sheikh(Chief Executive) Habib Metropolitan Bank Ltd.
Mrs. Rameen Anis Sheikh(Director) Habib Bank Ltd.
Mian Anis Ahmad Sheikh(Director) Allied Bank Limited
Mian Aziz Ahmad Sheikh(Director)
Mian Idrees Ahmad Sheikh(Director)
Mr. Manzoor A. Sheikh (NIT)(Director)

yarn Kgs 12,347,270 10,626,001
206
Masood Textile Mills Ltd.
Universal House, West Canal Road, Farooqabad, Faisalabad.
Mr. Shahid Nazir(Chairman / C.E.O.) Habib Bank Ltd. M/s. Riaz Ahmad & Co.
Mr. Shahid Iqbal(Director) United Bank Limited
Mr. Fazal Ahmad(Director) Habib Metropolitan Bank Limited
Mr. Muhammad Arshad(Director) MCB Bank Ltd
Mr. Muhammad Asif (NIT)(Director) The Bank of Punjab
Mr. Naseer Ahmad Shah(Director)
Mr. Matloob Hussain(Director)

Sinning Th. Kgs 4,762 4,107
Knitting Th, Kgs 19,654 10,458
Dyeing/Finishing Th. Kgs 12,360 9,875
Mehr Dastagir Textile Mills Ltd.

Mehr Dastagir, Shaheed Younis Dastagir Road, Multan.
Khawaja Muhammad Yousuf(Chairman) National Bank Of Pakistan M/s.Mahboob Sheikh & Co.
Khawaja Muhammad Abdullah(Chief Executive) MCB Bank Ltd.
Khawaja Muhammad Abdul Rehman Jami(Direc NIB Bank Ltd.
Khawaja Muhammad Ali(Director)
Khawaja Muhammad Usman(Director)
Khawaja Muhammad Hussain(Director)
Khawaja Muhammad Mansoor(Director)

Yarn Kgs 1,188,794 455,780
207
Mian Textile Industries Ltd.
29-B/7, Model Town, Lahore.
Mian Muhammad Jehangir(Chairman/Chief Exec The Bank Of Punjab M/s. Naveed Zafar Hussain Jaffery & Co.
Mian Khurram Jehangir(Director) Industrial Development Bank Of Pakistan
Mian Khurshid Ahmed(Director) National Bank Of Pakistan
Mian Muhammad Nawaz(Director) Habib Bank Ltd.
Mian Waheed Ahmed(Director) NIB Bank Ltd.
Mrs. Nargis Jehangir(Director)
Mr. Muhammad Asif (NIT)(Director)

Spinning Thousand Kgs 5,845 2,774
Weaving Thousand Sq. Meters 9,293 4,395
Mohammad Farooq Textile Mills Ltd.

Plot No. 6 & 7, Sector-21, Korangi Industrial Area, Karachi.
Ms. Sabiha Sumar(Chairperson) Habib Bank Ltd. M. Yousuf Adil Saleem & Co.
Mr. Mohammad Farooq Sumar(Chief Executive) MCB Bank Ltd.
Mr. Mohammad Mukhtar Sumar(Director) National Bank of Pakistan
Ms. Neelofer Sumar(Director) Standard Chartered Bank Ltd.
Mrs. Naheed Mukhtar Sumar(Director)
Ms. Faiza Imran Ahmad(Director)
Mr. Kaleem Uddeen Ahmed (NIT)(Director)

Fabric Sq. Meters 16,479,374 5,401,226
208
Mubarak Textile Mills Ltd.
20-K.M. Off. Ferozepur Road, Lahore.
Mr. Rehan Ahmed(Chairman & C.E.) Habib Metropolitan Bank Ltd. M/s. Ahmad Mushir & Co.
Mr. Zulfiqar Ali(Director) Soneri Bank Ltd.
Mr. Abdul Rasheed(Director) Habib Bank Ltd.
Ch. Naseer Ahmed(Director) Toyal Bank of Scottland
Mr. Nadeem Abbas(Director)
Syed Hameed-ud-Din(Director)
Mr. Imtiaz Husain Qureshi(Director)

Knitting Kgs. 1,200,000 107,004
Dyeing Kgs. 1,450,000 1,142,495
Stitching pcs/month 239,000 0
Mukhtar Textile Mills Ltd.

P-48 Street No 1, Douglas Pura, Faisalabad.
Rana Muhammad Saleem(Chief Executive) MCB Bank Ltd. M. Ather & Co.
Mr. Shamim Ahmed Khan(Director) Allied Bank of Pakistan Ltd.
Mr. Umer Saleem(Director) Habib Bank Ltd.
Rana Adnan Rashid(Director) Industrial Development Bank Of Pakistan
Rana Rashid Ahmed Khan(Director)
Miss. Nadia Saleem(Director)
Mrs. Shaista Saleem(Director)

yarn Kgs 4,760,878 -
209
N.P. Spinning Mills Ltd.
703-Uni Tower, I.I.Chundrigar Road, Karachi.
Mr. Inam-ur-Rehman(Chairman) Soneri Bank Ltd. M. Yousuf Adil Saleem & Co.
Mr. Khalid Inam(Chief Executive) MCB Bank Ltd.
Mrs. Asma Khalid(Director) Habib Bank Ltd.
Mr. Nazir Ahmed(Director) Habib Metropolitan Bank Ltd.
Mrs. Summayya Rehman(Director)
Mr. Fakhar Mohiuddin Faruqi(Director)
Mr. Ziauddin Zubairi(Director)

yarn Kgs. 16,516,921 13,350,509
Nadeem Textile Mills Ltd.

201-202, Commerce Centre, Hasrat Mohani Road, Karachi.
Mr. Zahid Mazhar(Chief Executive) Askari Commercial Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq
Mr. Shahid Mazhar(Director) Bank Alfalah Ltd.
Mr. Ahmed Bin Shahid(Director) Soneri Bank Ltd.
Mst. Ghazala Shahid(Director) Citi Bank
Mst. Naila Zahid(Director) Allied Bank Limited
Mst. Rafia Sultana(Director)
Mr. Omer Bin Zahid(Director)

yarn Kgs 11,030,960 11,218,535
210
Nagina Cotton Mills Ltd.
2nd Floor Shaikh Sultan Trust Building No.2, 26-Civil Lines Beaumont Road, Karachi
Shaikh Inam Ellahi(Chairman) M/s. M. Yousuf Adil Saleem & Co.
Mr. Shaukat Ellahi Shaikh(Director)
Mr. Munawar Iqbal(Director)

Yarn Kgs. 6,145,059 11,581,664
Nakshbandi Industries Ltd.

H-23/4-A, Landhi, Karachi.
Mr. A. Razak Haji Sattar(Chairman) Askari Bank Ltd. M/s. Rahman Sarfaraz, Rahim Iqbal Rafiq
Mr. Muhammad Asif Teli(Chief Executive) Habib Metropolitan Bank Limited
Mr. Abdul Rahman Yaqub(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Shabbir Ahmed(Director) Habib Bank Ltd.
Mr. Khaleeq-ur-Rahman(Director) Bank Al-Habib Ltd.
Mr. Murtaza A. Razak(Director) Bank Alflah Limited
Mr. Jawed Yunus Tabba(Director)

Yarn Kgs 6,759,000 6,063,000
211
Nazir Cotton Mills Ltd.
11-A/1, Block-H, Gulberg-II, Lahore.
Mian Shahzad Aslam(Chief Executive) MCB Bank Ltd. M/s. SAWARS (Chartered Accountants)
Mian Aamir Naseem(Director) Samba Bank Ltd.
Mian Farrukh Naseem(Director) Askari Commercial Bank Ltd.
Mr. Nadeem Anjum(Director) Habib Bank Ltd.
Mr.Khurram Abbas(Director) Soneri Bank Ltd.
Syed Arif Husain(Director) National Bank of Pakistan.
Mr. Maqbool Hussain Bhutta(Director)

yarn Kgs 874,059 -
Nina Industries Ltd.

A-29/A, S.I.T.E. Manghopir Road, Karachi.
Mr. Saeed A. Sattar(Chairman) Habib Metropolitan Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Waqar A. Sattar(Chief Executive) United Bank Ltd.
Mr. Urooj Saeed(Director) PICIC Commercial Bank Ltd.
Mr. Yasir Waqar(Director) MCB Bank Ltd.
Mrs. Mehak Yasir(Director) Askari Commercial Bank Ltd.
Mr. Muzaffar S. Khan(Director) Bank Al-Habib Ltd.
Mr. Kashif Saeed Sattar(Director) Saudi Pak Commercial Bank Ltd.

Yarn and cotton spindle
212
Nishat (Chunian) Ltd.
31-Q, Gulberg-II, Lahore.
Mr. Mohammad Saleem(Chairman) Meezan Bank Ltd. M/s. Riaz Ahmad & Co.
Mr. Shahzad Saleem(Chief Executive) Citibank N.A.
Mrs. Farhat Saleem(Director) The Bank of Punjab
Mr. Mehmood Akhtar(Director) Faysal Bank Ltd.
Mr. Manzar Mushtaq(Director) Habib Bank Ltd.
Mr. Manzoor Ahmad (NIT)(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Aftab Ahmed Khan(Director) Deutsche Bank AG

Yarn Kgs 49,507,139 48,775,505
Fabric Sq. yards 182,694,493 177,425,527
Power Plant KWh 317,698,920 179,605,840
Nishat Mills Ltd.

Nishat House, 53-A, Lawrance Road, Lahore.
Mian Umer Mansha(Chairman & C.E.) KASB Bank Ltd. M/s. Riaz Ahmad & Co.
Mr. Muhammad Ali Zeb(Director) Standard Chartered Bank (Pakistan) Ltd.
Mian Hassan Mansha(Director) Habib Metorpolitan Bank Ltd.
Mr. Khalid Qadeer Qureshi(Director) United Bank Ltd.
Mr. Muhammad Azam(Director) National Bank Of Pakistan
Ms. Nabiha Shahnawaz Cheema(Director) Faysal Bank Ltd.
Mr. Muhammad Asif (NIT)(Director) Bank Islami Pakistan Ltd.

Spinning Kgs 62,944,000 57,088,000
Weaving Sq. meters 218,015,000 203,034,000
Finishing Mt. 48,000,000 45,256,000
213
Olympia Spinning & Weaving Mills Ltd.
E/3, Farzana Building, 1st Floor, Block- 7 & 8, K.C.H.S.Union, Shaheed-e-Millat Road, Karachi.
Mian M. Waqar Monnoo(Chairman & C.E.) Soneri Bank Ltd. M/s. Mushtaq & Co.
Mr. Siraj Sadiq Monnoo(Director) Bank Alfalah Ltd.
Mr. Syed Ayazuddin(Director) Habib Bank Ltd.
Mrs. Ghazala Waqar(Director) Allied Bank Of Pakistan Ltd.
Mr. Imran Monnoo(Director) Askari Commercial Bank Limited
Mr. Syed Ejazuddin(Director) United Bank Ltd.
Mr. Muhammad Anwar Saigal(Director)

Yarn Kgs 15,104,644 14,253,918
Olympia Textile Mills Ltd.

23-Dawis Road, Lahore.
Mr. M. Munir Monnoo(Chairman) Bank Al-Falah Ltd. M/s. Sheikh & Chaudhri
Mr. M. Khurshid Monnoo(Chief Executive) Askari Commercial Bank Ltd.
Mr. Tayyab Monoo(Director) Habib Bank Ltd.
Mr. Adeel Monnoo(Director) Standard Charterd Bank
Mr. Aurangzeb Monnoo(Director)
Mr. Humayun Monnoo(Director)
Mr. M .Nasir Monnoo(Director)

Yarn Kgs. 8,635,360 2,805,557
214
Paramount Spinning Mills Ltd.
2nd Floor, Finlay House, I. I. Chundrigar Road, Karachi.
Mr. Abdul Shakoor(Chairman) National Bank Of Pakistan M/s. Hameed Chaudhry & Co.
Mr. Tanveer Ahmed(Chief Executive) Habib Bank Ltd.
Mr. Riaz Ahmed(Director) United Bank Ltd.
Mr. Sohail Maqsood(Director)
Mr. Mohammad Abdullah(Director)
Mrs. Neelofar Hameed(Director)
Mr. Naseer Ahmed(Director)

Dyeing 2,065,170 1,601,691
Home Textile 2,505,150 625,780
Stitching 2,160,000 1,473,154
Premium Textile Mills Ltd.

1st Floor Haji Adam Chambers, Altaf Hussain Road, New Challi, Karachi.
Mr. Abdul Kader Haji Adam(Chairman/Chief Exec Soneri Bank Ltd. Rahman Sarfaraz Rahim Iqbal Rafiq
Mr. Mohammed Ali Akbani(Director) National Bank of Pakistan
Mr. Mohammed Aslam(Director) Bank Al-Habib Ltd.
Mr. Mohammed Yasin Siddik(Director) Habib Metropolitan Bank Ltd.
Mr. Ghulam Mohammad Surti(Director) Habib Bank Ltd.
Mr. Aziz Hussain (NIT)(Director)
Mrs. Aamir Amin (NIT)(Director)

Yarn Kgs 13,469,586 12,809,235
215
Prosperity Weaving Mills Ltd.
Nagina House, 91-B-1, M.M.Alam Road, Gulberg- III, Lahore.
Shaikh Enam Ellahi(Chairman) M/s. M. Yousuf Adil Saleem & Co.
Mr. Shaukat Ellahi Shaikh(M.D. / C.E.O.)
Mr. Syed Mohsin Gilani(Director)

Fabric Meters 58,714,474 54,141,861
Quality Textile Mills Ltd.

24, Ali Bhai Centre, 2nd Floor, 233-A, P.E.C.H.S., Block-2, Karachi.
Mr. Noor Mohammad Hashim(Chairman/Chief Ex Bank Al-Habib Ltd. M/s. M.Yousuf Adil Saleem & Co.
Mr. Tayyab Noor Mohammad(Director) Habib Metropolitan Bank Ltd.
Mr. Mohammad Younus Hashim(Director) Habib Bank Ltd.
Mr. Imran M. Younus(Director)
Mrs. Fiza Chaudhri(Director)
Mr. Muhammad Idris Khokhar(Director)
Mr. Kamran M. Younus(Director)

Yarn Kgs 7,087,253 7,987,172
216
Quetta Textile Mills Ltd.
Nadir House Ground Floor, I.I.Chundrigar Road, Karachi.
Mr. Khalid Iqbal(Chief Executive) National Bank Of Pakistan M/s. Mushtaq & Co.
Mrs. Najma Javed(Director) Atlas Bank Ltd.
Mr. Asim Khalid(Director) Faysal Bank Ltd.
Mr. Daanish Javed(Director) Habib Bank Ltd.
Mr. Tariq Iqbal(Director) Soneri Bank Ltd.
Mrs. Tabbasum Tariq(Director) United Bank Limited
Mr. Omer Khalid(Director) Albaraka Islamic Investment Bank B.S.C (E.C)

Yarn Kgs. - -
Fabric Th. Sq. Meters - -
Power MW - -
Ravi Textile Mills Ltd.

5/79, Usman Block, New Garden Town, Lahore.
Mr. Mohammad Waseem-ur-Rehman(Chief Exe National Bank Of Pakistan M/s. Riaz Ahmad & Co.
Mr. Mohammad Shahid(Director) Bank Al-Falah Ltd.
Mr. Mohammad Shahid Iqbal(Director) NIB Bank Ltd.
Mr. Aftab Sarwar(Director) Habib Metropolitan Bank Limited
Mr. Tahir Majeed(Director) The Bank Of Punjab
Mr. Shabbir Ahmad Alvi(Director)
Mr. Mohammad Riaz(Director)

yarn Kgs 5,202,611 4,597,666
217
Redco Textiles Ltd.
Redco Arcade, 78-E, Blue Area, Islamabad.
Mrs. Sarah Saif Khan(Chief Executive) United Bank Ltd. M/s. BDO Ebrahim & Co.
Mrs. Muneza Saif Khan(Director) Bank Alfalah Ltd.
Mrs. Samina Asad Khan(Director)
Mrs. Taufiqa Amanullah Khan(Director)
Mr. Ahsan-ur-Rehman Khan(Director)
Mr. Imran Zia(Director)
Mr. Khalid Rehman(Director)

Yarn Lbs 15,156,000 11,624,970
Fabric Meters 11,520,000 10,079,354
Regent Textile Industries Ltd.

A-66 Manghopir Road, S.I.T.E., Karachi.
Mr. Akber Ali Hashwani(Chairman) Bank Al-Habib Ltd. M/s. Daudally Lalani & Co.
Mr. Amin A.Hashwani(Chief Executive) Metropolitan Bank Ltd.
Mrs. Farieha A. Hashwani(Director) MCB Bank Ltd.
Mr. Aziz Kanani(Director) Bank Al-Falah Ltd.
Mrs. Sultana A. Hashwani(Director)
Mr. Nizam A. Hashwani(Director)
Mr. Abdullah A. Hashwani(Director)

Yarn Kgs 5,879,840 5,363,363
218
Reliance Cotton Spinning Mills Ltd.
312, Cotton Exchange Building, I.I.Chundrigar Road, Karachi.
Mr. Mohammad Abdullah(Chairman) Habib Bank Ltd. M/s. M. Yousuf Adil Saleem & Co
Mr. Yousaf Abdullah(Chief Executive) Habib Metropolitan Bank Ltd.
Mr. Shahid Abdullah(Director) MCB Bank Ltd.
Mr. Mohammad Yamin(Director)
Mr. Mohammad Younus(Director)
Mr. Nadeem Abdullah(Director)
Mr. Amer Abdullah(Director)

Yarn Kgs 21,894,873 21,031,586
Reliance Weaving Mills Ltd.

2nd Floor, Trust Plaza, L.M.Q. Road, Multan.
Mr. Fawad Ahmed Mukhtar(Chairman) Allied Bank Of Pakistan Ltd. M/s. KPMG Taseer Hadi & Co.
Mr. Fazal Ahmed Sheikh(Chief Executive) United Bank Ltd.
Mr. Fahd Mukhtar(Director) Habib Bank Ltd.
Mrs. Farah Faisal(Director) MCB Bank Ltd.
Mrs. Fatima Fazal(Director) Meezan Bank Ltd.
Mr. Shahid Aziz (NIT)(Director) National Bank of Pakistan
Mr. Faisal Ahmed Mukhtar(Director) Silk Bank Ltd.

Weaving Meters 56,507,912 52,261,233
Spinning Kgs 11,963,097 10,084,785
219
Resham Textile Industries Ltd.
314-Upper Mall, Lahore.
Ch. Mohammad Khurshid(Chief Executive) First National Bank Modaraba M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Muhammad Ali Chaudhry(Director) Orix Leasing Pakistan Ltd.
Ch. Rahman Bakhsh(Director) Albaraka Islamic Inv. Bank
Miss. Kiran A. Chaudhry(Director) Orix Investment Bank Of Pakistan Ltd.
Mrs. Salma Aziz(Director) The Royal Bank of Scotland Ltd.
Mr. Kamran Ilyas(Director) Bank Alfalah Ltd.
Mr. Azhar Khurshid Chaudhry(Director) The Bank Of Punjab

Yarn kgs 14,102,609 12,974,321
Ruby Textile Mills Ltd.

203-Faiyaz Centre, 2nd Floor, 3-A, S.M.C.H.S., Shahrah-e-Faisal, Karachi.
Mr. Noor Elahi(Chairman & C.E.) Standard Chartered Bank M/s. Mushtaq & Co.
Mrs. Parveen Elahi(Director) Bank Al-Habib Ltd.
Mr. Ikram Elahi(Director) National Bank Of Pakistan
Mrs. Naheed Javed(Director) Soneri Bank Ltd.
Mr. Mansoob A. Akhtar (NIT)(Director) MCB Bank Ltd.
Mr. Javed Usman(Director) Habib Metropolitan Bank Ltd.
Mr. Nabil Javed(Director) Silk Bank Ltd.

Yarn Kgs 8,651,230 6,415,293
220
Safa Textiles Ltd.
Plot No. 26 & 26/1 Sector 12-D, Industrial Area, North Karachi. Karachi.
Mr. Syed Iqbal Hussain(Chairman & C.E.) Bank Alfalah Ltd. M/s.Rahman Sarfaraz Rahim, Iqbal, Rafiq
Mrs. Sabeen Tarique(Director) Habib Metorpolitan Bank Ltd.
Mrs. Seema Adnan(Director) Standard Chartered Bank Ltd,
Mr. Adnan Iqbal(Director) NIB Bank Ltd.
Miss Hamna Husain(Director)
Mr. Syed Tarique Husain(Director)
Mrs. Farhat Iqbal(Director)

Yarn and cotton - -
Saif Textile Mills Ltd.

APTMA House, Tehkal Payan, Jamrud Road, Peshawar.
Mr. Anwar Saifullah Khan(Chairman) HSBC Bank Middle East Ltd. M/s. Hameed Chaudhri & Co.
Mr. Osman Saifullah Khan(Chief Executive) Dubai Islamic Bank (Pakistan) Ltd.
Mrs. Hoor Yousafzai(Director) Allied Bank Ltd.
Mr. Assad Saifullah Khan(Director) Faysal Bank Ltd.
Mr. Jehangir Saifullah Khan(Director) Albaraka Islamic Investment Bank B.S.C (E.C)
Mr. Muhammad Ayub (NIT)(Director) Natioanl Bank of Paksitan
Mr. Asif Saifullah Khan(Director) The Bank of Punjab

Yarn Kgs 13,088,000 14,380,000
221
Saitex Spinning Mills Ltd.
250-Street No.5, Cavalry Ground, Lahore Cantt:
Mian. M. Iqbal Saigol(Chairman & C.E.) Union Bank Limited M/s. Sheikh & Chaudhry
Mr. Munsif Ali Alvi(Director) Askari Commercial Bank Limited
Mrs. Farhat Siddiqui(Director) MCB Bank Ltd.
Khawaja M. Sadiq(Director) National Bank Of Pakistan
Mian M. Nadeem Saigol(Director) Habib Bank Ltd.
Mian M. Samir Saigol(Director) Allied Bank Of Pakistan Ltd.
Mr. Mohammad Asif (NIT)(Director)

Yarn Kgs 4,917,219 0
Sajjad Textile Mills Ltd.

19-B, Off Zafar Ali Road, Gulberg-V, Lahore
Mr. Muhammad Asim Sajjad(Chief Executive) Habib Metropolitan Bank Limited M/s. Fazal Mahmood & Co.
Mr. Salman Muhammad Aslam(Director) National Bank Of Pakistan
Mr. Mehr Allah Yar(Director) United Bank Ltd.
Mr. Sultan Mahmood(Director)
Mr. Aftab Anwar(Director)
Mr. Muhammad Amjad(Director)
Miss. Batool Zahra(Director)

Yarn Kgs 7,113,862 1,950,000
222
Saleem Denim Industries Ltd.
33-K.M. Sheikhupura Road, Faisalabad.
Mr. Tahir Saleem Chaudhry(Chairman/ C.E.) Askari Bank Ltd. M/s. M. Ather & Company
Mr. Shahid Saleem Chaudhry(Director) Habib Bank Ltd.
Mrs. Sobia Saleem(Director)
Mr. Abdul Haq Chaudhry(Director)
Mrs. Nosheen Shahid(Director)
Mr. Abdul Aziz Chaudhry(Director)
Mr. Ghulam Farid(Director)

Yarn
Note: Continuous losses production
remained Closed
Salfi Textile Mills Ltd.

8, 8th Floor, Textile Plaza, M. A. Jinnah Road, Karachi.
Mr. Anwar Ahmed Tata(Chairman / C.E.) Soneri Bank Ltd. M/s. M.Yousuf Adil Saleem & Co.
Mr. Shahid Anwar Tata(Director) Habib Metropolitan Bank Ltd.
Mr. Farooq Advani(Director) Allied Bank Limited
Mr. Adeel Shahid Anwar Tata(Director) MCB Bank Ltd.
Mr. Jawed Ahmed(Director) KASB Bank Ltd.
Mr. Kauser Ejaz(Director)
Mr. Aijaz Ahmed Tariq(Director)

Yarn Kgs 12,357,535 13,431,946
223
Sally Textile Mills Ltd.
97-Shadman, Lahore-3
Mian Iqbal Salah-ud-Din(Chief Exec. Officer) MCB Bank Ltd. M/s. Rahman Sarfaraz Rahim Iqbal Rafiq
Mst. Munira Salah-ud-Din(Director) Meezan Bank Ltd.
Sheikh Abdul Salam(Director) Askari Commercial Bank Ltd.
Mian Asad Salah-ud-Din(Director) National Bank Of Pakistan
Mian Yousaf Salah-ud-Din(Director)
Mian Sohail Salah-ud-Din(Director)
Mr. Muhammad Rafiq Khan(Director)

yarn Kgs 8,555,000 8,088,137
Salman Noman Enterprises Ltd.

3-K.M. Balloki Road, Bhai Pheru, Distt: Kasur
Mrs. Shamim Akhtar(Chairperson) M/S Mushtaq & Co.
Mr. Nauman Almas(Chief Executive)
Mrs. Fareeha Pervaiz(Director)
Mr. Waseem K. Haq(Director)
Mrs. Shumaila Azeem(Director)
Mrs. Shahmeen Almas Sheikh(Director)
Mr. Mansoob Akhtar (NIT)(Director)

yarn Kgs 10,084,462 12,418,827
224
Samin Textiles Ltd.
50-C, Main Gulberg, Lahore.
Mr. Sarmad Amin(Chairman/Chief Exec.) National Bank Of Pakistan M/s. Anjum Asim, Shahid Rehman & Co.
Mr. Jamil Masud(Director) Bank Al-Falah Ltd.
Mr. Tariq Jilani(Director) NIB Bank Ltd.
Mr. Bunyad Hussain Shah(Director) Askari Commercial Bank Limited
Mr. Nadeem Saeed(Director) Allied Bank Limited
Mr. Safdar Hussain Tariq(Director) Pak Kuwait Investment Co. Ltd.
Mr. Asad Ahmad Jan(Director) My Bank Ltd.
Date of Annual General Meeting 30th September, 2009 Face Value Rs. 10.00

Fabric Running meters 23,869,561 18,465,160
Sana Industries Ltd.

SF Unit No. 96, S.I.T.E., P.O.Box No. 10651, Karachi.
Mr. Mohammed Yousuf(Chairman) Metropolitan Bank Ltd. M/s. Muniff Ziauddin & Co.
Mr. Mohammed Younus Nawab(Chief Executive
Hafiz Mohammed Irfan Nawab(Director)
Mr. Mohammed Junaid Nawab(Director)
Mr. Mohammed Tariq Yousuf(Director)
Mr. Ibrahim Younus(Director)
Mr. Kemal Shoaib (NIT)(Director)

yarn Kgs 3,622,104 2,148,903
225
Sapphire Fibres Ltd.
316-Cotton Exchange Building, I.I.Chundrigar Road, Karachi.
Mr. Mohammad Abdullah(Chairman) Habib Bank Ltd. M/s. Hameed Chaudhry & Co.
Mr. Shahid Abdullah(Chief Executive) National Bank of Pakistan
Mr. Yousuf Abdullah(Director) Habib Metropolitan Bank Ltd.
Mr. Naveed-ul-Islam(Director) Citibank N.A.
Mr. Muhammad Yamin(Director) MCB Bank Ltd.
Mr. Nadeem Abdullah(Director)

Spinning Lbs 60,673,143 60,366,472
Dyeing Lbs 7,243,831 3,401,182
Knitting Lbs 14,372,094 5,679,798
Sapphire Textile Mills Ltd.

212, Cotton Exchange Building, I. I. Chundrigar Road, Karachi.
Mr. Mohammad Abdullah(Chairman) Citibank N.A. M/s. Mushtaq & Co.
Mr. Nadeem Abdullah(Chief Executive) Habib Bank Ltd.
Mr. Yusuf Abdullah(Director) Standard Chartered Bank
Mr. Mohammad Yamin(Director) United Bank Ltd.
Mr. Mohammad Younus(Director) MCB Bank Ltd.
Mr. Shahid Abdullah(Director) The Royal Bank of Scotland Ltd.

Spinning Lbs 82,877,920 92,695,300
226
Sargodha Spinning Mills Ltd.
A-601/B, City Towers, 6-K, Main Boulevard Gulberg II Lahore.
Mian Farrukh Naseem(Chief Executive) Habib Bank Ltd. M/s. Riaz Ahmad & Co.
Mian Aamir Naseem(Chairman) Bank Alfalah Ltd.
Mr. Irfan Qamar(Director) NIB Bank Ltd.
Mrs. Hina Farrukh(Director) National Bank Of Pakistan
Mr. Shahid Mehmud(Director)
Mian Shahzad Aslam(Director)
Syed Arif Hussain(Director)

Yarn Kgs 21,528,000 16,364,000
Saritow Spinning Mills Ltd.

17-Aziz Avenue, Canal Bank, Gulberg - V, Lahore.
Mr. M. Naseem Saigol(Chairman) My Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. M. Azam Saigol(Chief Executive) Bank of Punjab Ltd.
Mr. Muhammad Omer Farooq(Director) National Bank Of Pakistan
Mr. Rashid Ahmad Javaid(Director) MCB Bank Ltd
Mr. Muhammad Athar Rafiq(Director) Faysal Bank Ltd.
Mr. Saeed Mian Ansari(Director) Askari Commercial Bank Ltd.
Mr. Aziz Hussain (NIT)(Director) Standard Chartered Bank Ltd.

Yarn Kgs 1,499,112 1,175,238
227
Service Fabrics Ltd.
38-Empress Road, Lahore.
Mr. Farooq Hameed(Chief Executive) National Bank Of Pakistan M/s. M. Hussain Chaudhry & Co.
Mr. Tariq Hameed(Director) Habib Bank Ltd.
Mr. Ijaz Hameed(Director)
Mr. Aamer Hameed(Director)
Mr. Muhammad Hameed(Director)
Mr. Abid Hussain(Director)
Mr. Bilal Mustafa(Director)

Yarn L.Meters 22,300,000 0
Service Industries Textiles Ltd.

38-Empress Road, Lahore.
Mr. Muhammad Hameed(Chief Executive) Habib Bank Ltd. M. Hussain Chaudhry & Co.
Mr. Tariq Hameed(Director) Bank Of Punjab
Mr. Murtaza Hameed(Director) National Bank Of Pakistan
Mr. Ijaz Hameed(Director)
Mr. Aamer Hameed(Director)
Mr. Abid Hussain(Director)
Mr. Farooq Hameed(Director)

Yarn Kgs 3,019,743 1,492,073
228
Shadab Textile Mills Ltd.
A-601/A, City Towers, 6-K Main Boulevard, Gulberg-II, Lahore.
Mian Aamir Naseem(Chief Executive) Bank Alfalah Ltd. M/S. Fazal Mahmood & Co.
Mr. Mazhar Hussain(Director) National Bank Of Pakistan
Mian Farrukh Naseem(Director)
Mian Sajjad Aslam(Director)
Mian Shahzad Aslam(Director)
Syed Arif Hussain(Director)
Mst. Nusrat Shamim(Director)

yarn Kgs 12,874,463 12,089,905
Shadman Cotton Mills Ltd.

201,202-Commerce Centre, Hasrat Mohani Road, Karachi.
Mr. Zahid Mazhar(Chief Executive) Askari Commercial Bank Ltd. M/s. Mushtaq & Co.
Mr. Shahid Mazhar(Director) Allied Bank Ltd. United Bank Limited
Mst. Ghazala Shahid(Director) Soneri Bank Ltd.
Mst. Naila Zahid(Director) Habib Bank Ltd.
Mst. Rafia Sultana(Director) MCB Bank Ltd
Mr. Omer Bin Zahid(Director) Bank Alfalah Ltd.
Mr. Ahmed Bin Shahid(Director) The Bank of Punjab

yarn Kgs 26,663,699 25,401,144
229
Shaheen Cotton Mills Ltd.
19-A off Zafar Ali Road, Gulberg-V, Lahore.
Mian Pervez Aslam(Chief Executive) Habib Metropolitan Bank Ltd. M/s. M. Hussain Chaudhry & Co.
Lt. Col. (R) Abdul Qayyum(Director) National Bank Of Pakistan
Chaudhry Hakim Ali(Director) NIB Bank Ltd.
Mr. Hassan-ud-Din Ansari(Director) Bank Alfalah Ltd.
Mr. Humayun Bakht(Director) MCB Bank Ltd.
Mr. Imran Aslam(Director)
Mr. Rashid Ahmed(Director)

Yarn Kgs 12,422,384 5,154,983
Shahpur Textile Mills Ltd.

FB-3, 1st Floor, Awami Complex, Usman Block, New Garden Town, Lahore.
Mr. Nazir Ahmed Peracha(Chairman / C.E.) MCB Bank Ltd. M/s. Anjum Asim Shahid Rehman
Mrs. Qamar Nazir Peracha(Director) Natioanl Bank of Paksitan
Mrs. Uzma Asif Khan(Director) Saudi Pak Commercial Bank Ltd.
Mrs. Cyma Fazal Peracha(Director)
Mr. Hafiz Laeeq Ahmed(Director)
Mr. Arshad Iqbal Peracha(Director)
Mr. Muhammad Ayub(Director)

Yarn Kgs. 5,543,046 3,615,142
230
Shahtaj Textile Ltd.
100-B/3, M.M.Alam Road, Gulberg-III, Lahore.
Mr. Muneer Nawaz(Chairman) Habib Bank Ltd. M/s. M.Yousuf Adil Saleem & Co.
Mr. M. Naeem(Chief Executive) MCB Bank Ltd
Mr. Farooq Hassan (NIT)(Director) The Bank Of Punjab
Mrs. Sadia Mohammad(Director) United Bank Ltd.
Mr. Toqueer Nawaz(Director) Bank Al-Falah Ltd.
Mr. Mohammad Nawaz(Director) Standard Chartered Bank ( Pakistan) Ltd.
Lt. Col. (Retd.) R. D. Shams(Director)

Fabric Sq. meters 57,141,872 55,713,325
Shahzad Textile Mills Ltd.

19-A, Off Zafar Ali Road, Gulberg-V, Lahore.
Mr. Imran Aslam(Chief Executive) Habib Metropolitan Bank Ltd. M/s. M. Hussain Chaudhury & Co.
Mian Parvez Aslam(Director) NIB Bank Ltd.
Chaudhry Hakim Ali(Director) Security Leasing Corporation Ltd.
Mr. Rashid Ahmed(Director)
Mr.Humayun Bakht(Director)
Lt.Col.(R) Abdul Qayum(Director)
Mr.Hasan-ud-Din Ansari(Director)

yarn Kgs 22,878,894 21,237,766
231
Shams Textile Mills Ltd.
7-B / III, Aziz Avenue, Gulberg-V, Lahore.
Mr. Muhammad Anwar(Chairman) The Bank Of Punjab M/s. Riaz Ahmad & Co.
Mr. Khalid Bashir(Chief Executive) Allied Bank of Pakistan
Mr. Nadeem Maqbool(Director) MCB Bank Ltd
Mr. Muhammad Asif (NIT)(Director) First National Bank Modaraba
Mr. Asif Bashir(Director) The Royal Bank of Scotland Ltd.
Mr. Adil Bashir(Director) Habib Bank Limited
Mr. Amjad Mahmood(Director) Natioanl Bank of Paksitan

yarn Kgs 22,202,165 20,150,516
Sind Fine Textile Mills Ltd.

Jacobabad Road, Shikarpur,
Mr. Iftikhar Ahmed Soomro(Chairman / C.E.O.) Habib Bank Ltd. M/s. Ebrahim & Co.
Begum Parveen I. Soomro(Director)
Mrs. Nasreen I. Soomro(Director)
Mr. Mohammad Omer Soomro(Director)
Ms. Huma Soomro(Director)
Ms. Mona Soomro(Director)
Mr. Nusair Ahmed Soomro(Director)

Ceased production may,2003
232
Sunrays Textile Mills Ltd.
5th Floor, 508, Beaumount Plaza, Civil Lines Quarters Karachi.
Mian Riaz Ahmed(Chairman) Soneri Bank Ltd. M. Yousuf Adil Saleem & Co
Mr. Kashif Riaz(Chief Executive) MCB Bank Ltd.
Mr. Shahzad Ahmed(Director) United Bank Ltd.
Mr. Irfan Ahmed(Director) Allied Bank Limited
Mr. Imran Ahmed(Director)
Mr. Shafqat Masood(Director)
Mian Muhammad Ahmed(Director)

yarn Kgs. 11,293,286 9,691,103
Suraj Cotton Mills Ltd.

7-B-III, Aziz Avenue, Gulberg-V, Lahore.
Mr. Khalid Bashir(Chairman) United Bank Ltd. M/s. Ernst & Young Ford Rhodes Sidat Hyder & C
Mr. Nadeem Maqbool(Chief Executive) MCB Bank Ltd
Mr. Humayun Maqbool(Director) Dubai Islamic Bank Ltd.
Mr. Amjad Mahmood(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Ahsan Bashir(Director) National Bank Of Pakistan
Mr. Asif Bashir(Director) Allied Bank of Pakistan Ltd.
Mr. Rashid Ahmed (NIT)(Director) The Bank of Punjab

Spinning Kgs 37,239,429 35,935,842
233
Taha Spinning Mills Ltd.
406-Commerce Centre, Hasrat Mohani Road, Karachi.
Mr. Ashfaq Ahmed(Chief Executive) NIB Bank Ltd. M/s. A. R. Khan & Co.
Mr. Ikhlaq Husain(Director) National Bank Of Pakistan
Mr. Muhammad Farooq(Director) Askari Commercial Bank Ltd.
Mr. Niaz Mohammad(Director)
Mr. Saleem Abbas(Director)
Mr. Saqib Ashfaq(Director)
Mr. Amir Ashfaq(Director)

Yarn Kgs 3,459,535 15,547
Taj Textile Mills Ltd.

Office-1, 1st Floor, 1-K, Commercial Zone, Block-K, Model Town, Lahore.
Mr. Jahangir Elahi(Chairman & C.E.) National Bank Of Pakistan M/s. Zahid Jamil & Co.
Mr. Shahrukh Elahi(Director) Habib Bank Ltd.
Mr. Tanvir Elahi(Director) Standard Chartered Bank
Mr. Tariq Latif(Director) United Bank Ltd.
Sh. Muhammad Ashraf(Director) NIB Bank Ltd.
Mr. Muhammad Ashfaq Nadeem(Director) Allied Bank Of Pakistan Ltd.
Mr. Amir Jahangir(Director) Crescent Commercial Bank Ltd.

Yarn Lbs 36,573,553 -
Fabric L. meters 12,779,847 -
234
Tata Textile Mills Ltd.
8, 8th Floor, Textile Plaza, M. A. Jinnah Road, Karachi.
Mr. Anwar Ahmed Tata(Chairman) Soneri Bank Ltd. M. Yousuf Adil Saleem & Co.
Mr. Shahid Anwar Tata(Chief Executive) Faysal Bank Ltd.
Mr.Farooq Advani(Director) National Bank Of Pakistan
Mr.Muhammad Ayub(NIT)(Director) The Royal Bank of Scotland Ltd.
Mr. Muhammad Waris Magoon(Director) MCB Bank Ltd.
Mr. Shahid Aziz (NIT)(Director) Bank Alfalah Ltd.
Mr. Adeel Shahid Anwar Tata(Director) Habib Metropolitan Bank Ltd.

Yarn Kgs 13,088,089 14,848,001
The Crescent Textile Mills Ltd.

40-A, Off Zafar Ali Road, Gulberg-V, Lahore.
Mr. Muhammad Anwar(Chairman & C.E.) United Bank Ltd. M/s. Riaz Ahmed & Co.
Mr. Ahmed Shafi(Director) National Bank Of Pakistan
Mr. Khalid Bashir(Director) Faysal Bank Ltd.
Mr. Tariq Shafi(Director) Habib Bank Ltd.
Mr. Muhammad Arshad(Director) Albaraka Islamic Investment Bank B.S.C (E.C)
Mr. Nasir Shafi(Director) Allied Bank Of Pakistan Ltd.
Mr. Muhammad Iqbal Hussain (NIT)(Director) NIB Bank Ltd.

spinning Th. kgs 38,562 36,091
Weaving Th. Sq. meters 97,078 78,220
Power Plant MWH 257,544 143,713
235
Towellers Ltd.
WSA-30/31, Block-1, Federal 'B' Area, Karachi.
Mrs. Suraiya Junaid(Chairperson) Soneri Bank Ltd. M/s. Mushtaq & Co.
Mr. S.M.Obaid(Chief Exec. Officer) The Hongkong & Shanghai Banking Corp. Ltd.
Mr. Tariq Muhammad Khan(Director) Askari Commercial Bank Ltd.
Ms. Mahjabeen Obaid(Director) Standard Charted Bank Ltd.
Mr. Jawed Ashfaq(Director) Metropolitan Bank Ltd.
Miss. Mehreen Obaid(Director) KASB Bank Ltd.
Ms. Sana Obaid(Director) Silk Bank Ltd.

Bed sheets
Usman Textile Mills Ltd.

406, 4th Floor, Trade Center, I.I.Chundrigar Road, Karachi.
Mr. Muhammad Zaheeruddin(Chairman) Bank Al-Falah Ltd. M/s. Haroon Zakaria & Co.
Mr. Noor Qadir(Chief Executive)
Mr. Khalid Abid M. Shah(Director)
Mr. Syed Tajuddin(Director)
Mr. Haroon Shekha(Director)
Mr. Nadeem Aslam(Director)
Mr. Muhammad Yusufuddin(Director)

Sold Plant & Machinery
236
Yousaf Weaving Mills Ltd.
Kashana-e-Yousaf Khawaja Street, Chakwal.
Khawaja Mohammad Jawed(Chairman) Faysal Bank Ltd. M/s. Hussain Chaudhry & Co.
Khawaja Mohammad Nadeem(Chief Executive) Habib Metropolitan Bank Limited
Khawaja Mohammad Tanveer(Director) Natioanl Bank of Paksitan
Khawaja Mohammad Jahangir(Director)
Khawaja Mohammad Kalim(Director)
Khawaja Mohammad Naveed(Director)
Mr. Danish Tanveer(Director)

Yarn Kgs 9,358,132 7,803,403
Zahidjee Textile Mills Ltd.

20, Bilal Road, Civil Lines, Faisalabad.
Mr. Muhammad Zahid(Chairman & C.E.) United Bank Ltd. M/s. Avais Hyder Liaquat Nauman
Mst. Huma Zahid(Director) Faysal Bank Ltd.
Mr. Muhammad Qasim(Director) Allied Bank Limited
Mst. Fouzia Shahani(Director) National Bank of Pakistan
Mr. Naveed Ahmad(Director) Bank Alfalah Ltd.
Mst. Fiza Zahid(Director) Standard Chartered Bank (Pakistan) Ltd.
Mst. Asma Makhdoom(Director) The Bank of Punjab

Sinning Kgs 15,700,624 13,733,701
Weaving Sq.Meter 42,536,384 29,973,024
237
Zahur Cotton Mills Ltd.
94th K.M. Lahore-Multan Road, Near Pul Jaurian, Akhtarabad, Okara.
Mr. Javed Zahur(Chairman & C.E.) MCB Bank Ltd. M/s. Tariq Ayyub Anwar & Co.
Mr. M. Nadeem(Director) Union Bank Ltd.
Mr. Nazir Akhtar(Director) Bank Al-Habib Ltd.
Mr. Khan Muhammad(Director) Prime Commercial Bank Ltd.
Mr. Muhammad Ayub (NIT)(Director)
Mr. Zahid Nadeem(Director)
Mr. Fazal Hussain(Director)
Date of Annual General Meeting Face Value Rs. 10.00

Percentage Dividend rate : Highest Price in 2009 Rs. .99

fabric Sq. meters 10,204,733
Note: Failed to hold AGM and
defaulter to SECP
Zephyr Textiles Ltd.

3rd Floor, IEP Building, 97-B/D-I, Gulberg-III, Lahore.
Mr. Mussaid Hanif(Chairman / C.E.O.) Allied Bank Limited M/s. Anjum Asim Shahid Rahman
Mr. Burhan Muhammad Khan(Director) Habib Bank Ltd.
Mr. Arbab Muhammad Khan(Director) National Bank of Pakistan
Mr. Manzar-ul-Islam(Director) The Bank of Punjab
Mr. Gauhar Abdul Hai(Director) United Bank Ltd.
Ms. Tahniyat Mussaid(Director) Faysal Bank Ltd.
Ms. Sabah Burhan(Director) NIB Bank Ltd.

Fabric Sq.meters 7,450,000 7,350,000
238
Other Textile Sector
Other Textile Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 10936.7 12646.2 15259.7 15927.7 11383.3 9799.2
5.Debentures 169.6 169.6 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7973.8 7970.5 9557.6 10519.0 10910.1 16181.4
(i)Cash 1417.7 1409.9 1189.1 1134.9 974.7 1499.8
(ii)Investments 6556.1 6560.6 8368.5 9384.1 9935.4 14681.6
3.Inventories 13952.0 18184.2 15674.4 15775.3 17590.9 13352.2
C.Fixed Assets:
4.Total assets (B4+C2) 56443.6 60414.1 64942.2 65897.6 69799.0 68060.1
D.Operation:
1.Gross sales 60698.7 52303.1 54764.9 53757.3 57135.2 55718.3
(i)Local sales 57035.3 43095.8 45979.3 43743.4 45883.2 41251.7
(ii)Export sales 3663.4 9207.3 8785.6 10013.9 11252.0 14466.6
2.Cost of Sales 54954.7 48343.5 49692.5 50166.1 54895.5 54192.0
3.Gross profit 5744.0 3959.6 5072.4 3591.2 2239.7 1526.3
8.Tax provision 670.4 334.5 502.7 384.7 525.3 374.5
2.Retention in business (D7-D8-D9) 1869.9 -405.8 1608.1 516.4 -2704.5 -3877.8
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 36.4 -29.5 193.7 -97.4 122.4 83.0
241
Other Textiles

300
250
200
% 150
100
50
0
2004 2005 2006 2007 2008 2009

Al-Abid Silk Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 556.7 984.0 1028.9 1190.2 1386.0 1423.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 74.7 122.4 26.4 42.6 10.8 36.5
(i)Cash 74.7 122.4 26.4 42.6 10.8 36.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1647.7 2532.1 2827.8 3151.3 4313.9 4964.1
C.Fixed Assets:
4.Total assets (B4+C2) 3441.3 5177.4 5394.1 5748.1 7056.4 7732.1
D.Operation:
1.Gross sales 2846.1 3539.9 4454.9 4584.9 5495.6 9101.0
(i)Local sales 2744.0 111.2 257.6 152.8 84.1 64.8
(ii)Export sales 102.1 3428.7 4197.3 4432.1 5411.5 9036.2
2.Cost of Sales 2434.7 3008.4 3732.9 3987.6 4813.6 7789.0
3.Gross profit 411.4 531.5 722.0 597.3 682.0 1312.0
8.Tax provision 23.9 28.3 45.5 46.6 56.1 91.7
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 4.4 3.8 -24.2 -21.7 11.3 -25.4
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -47.2 40.4 77.5 -39.4 15.1 44.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -8.9 24.4 25.8 2.9 19.9 65.6
243
Bannu Woollen Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 464.0 459.7 449.1 477.1 237.7 477.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.0 7.2 30.0 37.5 32.1 4.2
(i)Cash 0.4 0.6 0.6 7.1 0.6 0.8
(ii)Investments 6.6 6.6 29.4 30.4 31.5 3.4
3.Inventories 79.0 132.4 95.3 109.6 140.0 202.3
C.Fixed Assets:
4.Total assets (B4+C2) 718.4 658.1 619.1 669.0 713.6 802.0
D.Operation:
1.Gross sales 269.1 147.8 288.9 296.0 332.2 391.3
(i)Local sales 269.1 147.8 288.9 296.0 332.2 391.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 230.3 127.7 213.7 222.0 319.7 295.3
3.Gross profit 38.8 20.1 75.2 74.0 12.5 96.0
8.Tax provision 4.2 4.2 16.5 14.8 16.3 8.2
2.Retention in business (D7-D8-D9) 11.0 -2.6 21.7 26.8 -33.2 1.5
3.Finance from outside the company (E1-E2) 112.7 -1.7 -30.8 67.5 -235.2 226.7
F.Cash Flow Data
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 2.2 -0.5 4.3 5.3 -4.4 0.2
244
Dewan Salman Fibre Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2896.9 2575.4 4964.8 4133.4 -767.3 -6993.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 266.8 434.3 546.4 432.5 235.4 150.0
(i)Cash 266.8 349.5 294.2 155.3 87.4 16.6
(ii)Investments 0.0 84.8 252.2 277.2 148.0 133.4
3.Inventories 6239.6 7837.1 6844.0 6634.5 4683.6 1457.5
C.Fixed Assets:
4.Total assets (B4+C2) 19705.0 20352.3 24767.2 23545.7 21472.8 16673.9
D.Operation:
1.Gross sales 21122.3 19470.9 16732.6 15021.5 10762.2 4169.6
(i)Local sales 21122.3 17051.2 15573.6 13940.2 9991.1 4096.1
(ii)Export sales 0.0 2419.7 1159.0 1081.3 771.1 73.5
2.Cost of Sales 19448.5 18378.8 15702.0 14749.4 13253.4 8206.3
3.Gross profit 1673.8 1092.1 1030.6 272.1 -2491.2 -4036.7
8.Tax provision 89.3 86.7 83.6 75.3 53.8 0.8
F.Cash Flow Data
245
Gatron (Industries) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1932.4 2466.1 1705.4 1799.3 1898.4 2220.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 323.1 321.3 316.0 320.7 395.2 345.5
(i)Cash 22.6 161.6 13.8 20.2 94.7 45.0
(ii)Investments 300.5 159.7 302.2 300.5 300.5 300.5
3.Inventories 1441.1 1710.6 1662.4 1484.4 1719.4 1956.5
C.Fixed Assets:
4.Total assets (B4+C2) 4577.9 5256.9 5226.9 5245.2 5868.8 5833.5
D.Operation:
1.Gross sales 5918.4 5664.1 4839.9 6209.2 7056.5 7497.0
(i)Local sales 4968.8 5066.9 4488.2 5578.5 6105.6 6853.9
(ii)Export sales 949.6 597.2 351.7 630.7 950.9 643.1
2.Cost of Sales 5326.0 5150.4 4488.0 5684.2 6271.2 6929.1
3.Gross profit 592.4 513.7 351.9 525.0 785.3 567.9
8.Tax provision 95.8 25.2 23.7 30.1 17.2 7.2
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 15.4 -4.3 -14.6 28.3 13.6 6.2
246
Ibrahim Fibres Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 3157.7 3694.0 4647.2 5992.9 6441.2 8751.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6345.5 6328.4 7858.3 8833.1 9570.6 13742.4
(i)Cash 135.3 118.2 268.1 297.5 244.6 169.5
(ii)Investments 6210.2 6210.2 7590.2 8535.6 9326.0 13572.9
3.Inventories 2559.2 3424.6 1629.9 2495.3 4173.3 2909.7
9.Net liquid assets (B1-B5) 977.7 906.7 2373.5 2192.6 855.7 5295.8
C.Fixed Assets:
4.Total assets (B4+C2) 18680.6 19066.3 18748.3 20650.1 23842.0 26464.7
D.Operation:
1.Gross sales 19286.8 11686.2 17216.5 16330.4 21557.3 22059.6
(i)Local sales 19230.4 11623.4 17161.5 16267.9 21447.4 21978.3
(ii)Export sales 56.4 62.8 55.0 62.5 109.9 81.3
2.Cost of Sales 17483.6 10747.3 15270.5 14699.9 19370.6 19748.6
3.Gross profit 1803.2 938.9 1946.0 1630.5 2186.7 2311.0
8.Tax provision 82.3 48.8 262.2 132.5 262.9 94.4
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 21.0 -69.0 -416.1 219.3 165.2 63.4
247
Indus Polyester Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 124.6 96.3 87.9 76.6 56.2 56.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 0.2 0.4 0.2 0.2 0.2
(i)Cash 1.4 0.2 0.4 0.2 0.2 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 20.2 14.0 1.9 1.4 0.1 0.1
C.Fixed Assets:
4.Total assets (B4+C2) 319.6 286.8 269.6 255.6 237.5 237.5
D.Operation:
1.Gross sales 133.8 34.6 28.2 0.5 0.0 0.0
(i)Local sales 132.8 34.3 28.2 0.5 0.0 0.0
(ii)Export sales 1.0 0.3 0.0 0.0 0.0 0.0
2.Cost of Sales 149.0 61.6 37.0 14.4 1.9 1.9
3.Gross profit -15.2 -27.0 -8.8 -13.9 -1.9 -1.9
8.Tax provision 0.5 0.1 0.1 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -71.7 -28.3 -8.4 -11.3 -20.4 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - - 58.3 -366.7 32.9 28.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -19.9 -74.1 -18.5 -98.2 -100.0 -
248
Kashmir Polytex Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -139.3 -58.5 -206.7 -246.4 -246.4 -246.4
3.Shareholder's Equity (A1+A2) -68.3 12.5 -135.7 -175.4 -175.4 -175.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.0 5.3 5.1 1.6 1.6 1.6
(i)Cash 3.0 5.3 5.1 1.6 1.6 1.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 79.2 87.1 69.7 4.9 4.9 4.9
C.Fixed Assets:
4.Total assets (B4+C2) 283.4 279.0 260.5 88.0 88.0 88.0
D.Operation:
1.Gross sales 192.2 251.8 230.8 83.8 83.8 83.8
(i)Local sales 56.2 112.4 146.7 66.6 66.6 66.6
(ii)Export sales 136.0 139.4 84.1 17.2 17.2 17.2
2.Cost of Sales 153.5 218.6 230.8 116.0 116.0 116.0
3.Gross profit 38.7 33.2 0.0 -32.2 -32.2 -32.2
8.Tax provision 0.9 1.2 1.1 0.5 0.5 0.5
F.Cash Flow Data
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -96.2 17.6 -191.1 -247.0 -247.0 -247.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 450.0 - -2.4 -2.3 -2.3 -2.3
15.Return on Equity (D7 as % of A3) - -65.6 0.0 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 30.7 31.0 -8.3 -63.7 0.0 0.0
10.Break-up value of ordinary shares (in rupees) -9.6 1.8 -19.1 -24.7 -24.7 -24.7
249
Liberty Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 421.7 647.8 621.9 950.1 1246.6 1775.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 62.2 50.3 158.8 141.4 140.8 1118.6
(i)Cash 59.9 47.8 158.3 139.2 137.8 575.6
(ii)Investments 2.3 2.5 0.5 2.2 3.0 543.0
3.Inventories 313.4 504.7 558.3 596.3 748.5 783.2
7.Net Current Assets(B4-B5) -92.7 28.9 -286.1 28.6 387.4 896.2
C.Fixed Assets:
4.Total assets (B4+C2) 1930.3 2453.3 2714.1 2978.4 3322.1 4530.1
D.Operation:
1.Gross sales 2820.4 3126.8 3783.8 4428.2 4602.1 5228.5
(i)Local sales 597.1 854.7 1128.4 1014.5 946.5 1003.9
(ii)Export sales 2223.3 2272.1 2655.4 3413.7 3655.6 4224.6
2.Cost of Sales 2431.8 2685.8 3265.3 3790.3 3839.2 4326.0
3.Gross profit 388.6 441.0 518.5 637.9 762.9 902.5
8.Tax provision 24.5 24.8 46.1 52.2 46.8 65.7
F.Cash Flow Data
250
Moonlite (Pak) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1.2 62.9 32.1 243.8 243.8 193.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.0 0.6 0.7 2.9 2.9 2.2
(i)Cash 3.0 0.6 0.7 2.9 2.9 0.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 1.8
3.Inventories 164.1 176.2 152.9 126.8 126.8 108.7
C.Fixed Assets:
4.Total assets (B4+C2) 285.5 355.2 313.7 286.5 286.5 268.0
D.Operation:
1.Gross sales 240.4 320.3 249.6 156.6 156.6 105.3
(i)Local sales 219.6 246.8 176.8 141.8 141.8 105.3
(ii)Export sales 20.8 73.5 72.8 14.8 14.8 0.0
2.Cost of Sales 205.9 271.0 221.3 152.2 152.2 114.7
3.Gross profit 34.5 49.3 28.3 4.4 4.4 -9.4
5.Operating profit 15.7 18.0 -4.6 216.0 216.0 -28.3
7.Net profit before tax (D5-D6) 7.0 6.3 -21.0 211.3 211.3 -30.3
8.Tax provision 1.2 1.5 2.5 0.9 0.9 0.0
2.Retention in business (D7-D8-D9) 5.8 4.8 -23.5 210.4 210.4 -31.4
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -27.0 49.6 -50.2 141.6 5.2 -42.4
5.Return on assets (D7 as % of C4) 2.5 1.8 -6.7 73.8 73.8 -11.3
10.Financial expenses as % of operating profit (D6 as % of D5) 55.4 65.0 -356.5 2.2 2.2 -7.1
15.Return on Equity (D7 as % of A3) 30.7 7.5 -39.1 79.6 79.6 -14.1
1.Dividend cover ratio [(D7 - D8) as % of D9] - - 0.0 0.0 0.0 -2754.5
3.Net profit margin (D7 as % of D1) 2.9 2.0 -8.4 134.9 134.9 -28.8
4.Earning per share before tax (D7/No. of ordinary shares) 3.2 2.9 -9.7 97.8 97.8 -14.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 2.7 2.2 -10.9 97.4 97.4 -14.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -11.5 33.2 -22.1 -37.3 0.0 -32.8
251
Noor Silk Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -16.3 -16.0 -16.1 -16.1 -14.9 -14.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.4 0.8 1.1 0.9 1.4 1.6
(i)Cash 0.4 0.8 1.1 0.9 1.4 1.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 1.2 1.6 1.7 1.5 2.0 2.2
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.1 0.2 0.3 0.1 0.1 0.1
F.Cash Flow Data
252
Pakistan Synthetics Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 547.5 465.4 422.3 290.2 296.1 338.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 66.0 32.2 11.7 3.6 15.0 121.0
(i)Cash 66.0 32.2 11.7 3.6 15.0 121.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 308.8 411.5 413.1 294.6 683.2 326.7
C.Fixed Assets:
4.Total assets (B4+C2) 1356.8 1301.7 1292.5 1274.3 1695.8 1302.1
D.Operation:
1.Gross sales 2225.7 1927.1 1873.0 1559.6 2284.3 2452.6
(i)Local sales 2223.0 1891.2 1873.0 1559.6 2284.3 2452.6
(ii)Export sales 2.7 35.9 0.0 0.0 0.0 0.0
2.Cost of Sales 2136.7 1937.1 1797.5 1601.2 2162.8 2311.0
3.Gross profit 89.0 -10.0 75.5 -41.6 121.5 141.6
5.Operating profit 53.5 -50.2 36.3 -92.8 42.4 82.0
7.Net profit before tax (D5-D6) 47.3 -58.9 27.0 -102.8 23.4 62.7
8.Tax provision 14.3 8.4 0.7 7.8 11.4 14.8
2.Retention in business (D7-D8-D9) 33.0 -67.3 -29.7 -110.6 12.0 40.9
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 3.5 -4.5 2.1 -8.1 1.4 4.8
6.Self financing ratio (E2 as % of E1) 91.9 - 68.9 170.9 -104.3 -531.2
10.Financial expenses as % of operating profit (D6 as % of D5) 11.6 - 25.6 -10.8 44.8 23.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 30.2 - 2.6 -7.6 48.7 23.6
15.Return on Equity (D7 as % of A3) 4.3 -5.7 2.7 -12.1 2.7 7.0
3.Net profit margin (D7 as % of D1) 2.1 -3.1 1.4 -6.6 1.0 2.6
4.Earning per share before tax (D7/No. of ordinary shares) 0.8 -1.1 0.5 -1.8 0.4 1.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.6 -1.2 0.5 -2.0 0.2 0.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 6.7 -13.4 -2.8 -16.7 46.5 7.4
253
Rupali Polyester Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1542.9 1808.8 1866.2 1708.3 1794.2 1888.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 767.7 620.7 481.3 546.0 458.4 619.4
(i)Cash 767.7 560.6 403.9 458.1 366.6 527.3
(ii)Investments 0.0 60.1 77.4 87.9 91.8 92.1
3.Inventories 756.5 899.0 978.2 774.4 881.3 607.6
9.Net liquid assets (B1-B5) 404.0 416.7 284.0 -131.8 -58.5 126.1
C.Fixed Assets:
4.Total assets (B4+C2) 2247.2 2353.6 2404.3 2726.9 2931.3 2722.7
D.Operation:
1.Gross sales 3794.1 4138.1 3538.0 4130.7 4241.0 4237.3
(i)Local sales 3745.4 4121.4 3538.0 4104.6 4241.0 4237.3
(ii)Export sales 48.7 16.7 0.0 26.1 0.0 0.0
2.Cost of Sales 3452.3 3867.2 3365.2 3925.6 3982.8 3937.5
3.Gross profit 341.8 270.9 172.8 205.1 258.2 299.8
8.Tax provision 111.9 97.1 12.7 19.9 56.4 91.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 9.6 94.4 -38.0 18.9 -18.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 24.2 9.1 -14.5 16.8 2.7 -0.1
254
S.G. Fibres Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 279.9 323.4 321.9 -21.5 -407.3 -74.6
3.Shareholder's Equity (A1+A2) 429.9 473.4 471.9 128.5 -257.3 75.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.5 0.2 1.6 3.0 1.0 1.7
(i)Cash 6.5 0.2 1.6 3.0 1.0 1.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 264.9 363.1 329.6 25.2 23.4 6.8
C.Fixed Assets:
4.Total assets (B4+C2) 1521.2 1543.2 1596.7 1182.0 1104.3 845.0
D.Operation:
1.Gross sales 1265.6 1322.6 1005.3 384.3 0.0 0.0
(i)Local sales 1144.2 1165.6 811.4 351.8 0.0 0.0
(ii)Export sales 121.4 157.0 193.9 32.5 0.0 0.0
2.Cost of Sales 1095.4 1193.6 843.0 649.3 37.4 33.5
3.Gross profit 170.2 129.0 162.3 -265.0 -37.4 -33.5
8.Tax provision 4.9 5.1 5.0 1.2 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 153.8 -95.4 1.8 -125.0 -335.1 282.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 238.7 -49.1 48.3 -79.9 -292.9 321.5
6.Self financing ratio (E2 as % of E1) 7.8 - 2933.3 270.7 14.4 -15.7
7.Cash flow ratio F1 as % of F2 40.6 - 205.6 367.1 2.1 -1.5
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 286.6 315.6 314.6 85.7 -171.5 50.3
10.Financial expenses as % of operating profit (D6 as % of D5) 66.0 43.8 43.4 -11.8 -4.5 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 6.9 4.5 -24.0 -61.8 -100.0 -
10.Break-up value of ordinary shares (in rupees) 28.7 31.6 31.5 8.6 -17.2 5.0
255
The National Silk & Rayon Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 56.7 64.9 63.2 54.1 62.4 58.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.3 2.9 1.1 1.7 9.3 1.9
(i)Cash 3.3 2.9 1.1 1.7 9.3 1.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 15.6 20.4 22.5 17.8 29.4 23.8
C.Fixed Assets:
4.Total assets (B4+C2) 170.7 194.4 210.5 210.7 273.0 231.0
D.Operation:
1.Gross sales 235.9 270.3 278.3 303.0 321.1 390.8
(i)Local sales 234.7 266.3 261.8 0.0 0.0 0.0
(ii)Export sales 1.2 4.0 16.5 303.0 321.1 390.8
2.Cost of Sales 5.6 242.5 251.8 279.5 300.6 372.0
3.Gross profit 230.3 27.8 26.5 23.5 20.5 18.8
8.Tax provision 214.9 1.2 1.5 1.5 1.6 0.2
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] -238.5 384.6 -72.7 0.0 0.0 0.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -2.8 4.5 -0.7 -0.8 1.4 -0.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 4047.8 -97.1 -89.3 -16.7 460.0 -121.4
256
Tri-Star Polyester Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -166.0 -166.0 75.4 92.0 -37.2 -55.8
5.Debentures 169.6 169.6 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 36.1 36.1 115.7 150.4 34.5 34.6
(i)Cash 1.6 1.6 1.2 0.0 0.0 0.1
(ii)Investments 34.5 34.5 114.5 150.4 34.5 34.5
3.Inventories 0.0 0.0 35.3 4.9 1.5 0.4
7.Net Current Assets(B4-B5) -187.1 -187.1 4.1 7.7 -111.1 -119.8
C.Fixed Assets:
4.Total assets (B4+C2) 570.4 570.4 468.8 469.3 338.5 327.6
D.Operation:
1.Gross sales 17.7 17.7 1.9 29.1 3.1 1.6
(i)Local sales 17.7 17.7 1.9 29.1 3.1 1.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 47.7 47.7 12.7 34.3 13.9 11.1
3.Gross profit -30.0 -30.0 -10.8 -5.2 -10.8 -9.5
8.Tax provision 0.0 0.0 0.0 0.1 0.0 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -65.7 -65.7 -0.6 4.7 -1.8 -0.2
7.Cash flow ratio F1 as % of F2 -1368.8 -1368.8 -0.8 123.7 1.5 2.3
10.Financial expenses as % of operating profit (D6 as % of D5) - - 0.0 0.0 -6.1 0.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 0.0 -1.7 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 0.0 -89.3 1431.6 -89.3 -48.4
257
Al-Abid Silk Mills Ltd.
A-39, S.I.T.E. Manghopir Road, Karachi.
Mr. Naseem A.Sattar(Chairman & C.E.) Arif Habib Bank Ltd. M/s. Muniff Ziauddin & Co.
Mrs. Zarina Naseem(Director) Allied Bank Limited
Mrs. Sadaf Nadeem(Director) The Royal Bank of Scotland Ltd.
Mrs. Asra Amir(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mrs.Reena Azim(Director) United Bank Ltd.
Mst. Adia Naseem(Director) Meezan Bank Ltd.
Syed Raza Abbas Jaffari (NIT)(Director) Habib Metropolitan Bank Ltd.

Polyster - -
Bannu Woollen Mills Ltd.

Habibabad, Kohat, Khyber Pukhtoonkhua
Mr. Raza Kuli Khan Khattak(Chairman) National Bank Of Pakistan M/s. Hameed Chaudhri & Co.
Mr. Muhammad Azhar Khan(Chief Executive)
Dr. Shaheen Kuli Khan(Director)
Mr. Ahmad Kuli Khan Khattak(Director)
Lt. Gen. (Retd.) Ali Kuli Khan Khattak(Director)
Mr. Manzoor Ahmed Shaikh (NIT)(Director)
Mrs. Zeb Gohar Ayub(Director)

Yarn Kgs 1,610,280 1,281,733
Cloth Meters 1,634,798 1,521,667
258
Dewan Salman Fibre Ltd.
Dewan Centre, 58-Main Margalla Road, F-7/2, Islamabad.
Dewan Mohammad Yousuf Farooqui(Chief Exec Standard Chartered Bank Ltd. M/s. Faruq Ali & Co.
Dewan Asim Mushfiq Farooqui(Managing Directo The Hongkong & Shanghai Banking Corp. Ltd.
Dewan Abdul Baqi Farooqui(Director) Royal Bank of Scottland
Dewan Abdullah Ahmed(Director) Atlas Bank Ltd.
Mr. Haroon Iqbql(Director) Albaraka Islamic Investment Bank Ltd.
Mr. Mansur-ul-Haque(Director) KASB Bank Ltd.
Mr. Aziz-ul-Haque(Director) Askari Commercial Bank Ltd.
Date of Annual General Meeting 02nd December , 2009 Face Value Rs. 10.00

yarn Tons 266,660 25,808
Gatron (Industries) Ltd.

Room No. 32, 1st Floor, Ahmed Complex, Jinnah Road, Quetta.
Haji Haroon Bilwani(Chairman) Standard Chartered Bank (Pakistan) Ltd. M/s. Hyder Bhimji & Co.
Peer Mohammad Dewan(Chief Executive) HSBC Bank Middle East Ltd.
Mr. Usman Bilwani(Director) NIB Bank Ltd.
Mr. Zakaria Bilwani(Director) The Royal Bank of Scotland Ltd.
Mr. Iqbal Bilwani(Director) National Bank Of Pakistan
Mr. Shabbir Dewan(Director) Citibank N.A.
Mr. Mohammad Arif Bilwani(Director) Faysal Bank Ltd.

Polyester yarn M. Tons 56,812 57,117
Polyester P.E.T. Th. Pieces 566,352 535,232
Electric Power & Steam Thousand KWH 193,945 135,992
259
Ibrahim Fibres Ltd.
Ibrahim Centre, 1- Ahmed Block, New Garden Town, Lahore.
Mr. Mohammad Naeem Mukhtar(Chairman) Citibank N.A. M/s. Avais Hyder Liaquat Nauman
Mr. Mohammad Waseem Mukhtar(Chief Executi Bank Al-Habib Ltd.
Mrs. Bina Sheikh(Director) Faysal Bank Ltd.
Mrs. Ghazala Naeem(Director) Habib Bank Ltd.
Ms. Iqbal Begum(Director) Standard Chartered Bank (Pakistan) Ltd.
Sheikh Mukhtar Ahmed(Director) Bank Al-Falah Ltd.
Mr. Shahid Amin(Director) United Bank Ltd.

Yarn Tons 41,696 48,343
Polyster 208,600 178,981
Indus Polyester Company Ltd.

B-54, S.I.T.E., Karachi.
Shaikh Mohammad Yousuf(Chairman) Allied Bank of Pakistan Ltd. M/s. Gardezi & Co.
Mr. Naeem Akhtar Yousuf(Chief Executive) MCB Bank Ltd
Ms. Gul Naeem(Director)
Mr. Tariq Yousuf(Director)
Mrs. Kausar Naeem(Director)
Mrs. Nabila Tariq(Director)
Mrs. Zuhra Yousuf(Director)

Polyester yarn Tons 2,100 -
260
Kashmir Polytex Ltd.
Plot No. A/8-11, Industrial Estate, Mirpur, Azad Kashmir.
Mr. Mohammad Ashraf Khan(Chief Executive) Bank Al-Habib Ltd. M/s Khalid Majid Rahman Sarfaraz Rahim Iqbal R
Dr. Mrs. Yasmin Ashraf(Director) National Bank Of Pakistan
Mrs. Hareem Ara Hashmi(Director) PICIC Commercial Bank Ltd.
Mr. Khawaja Zafar Iqbal(Director)
Mr. Mushtaq Ahmad(Director)
Mr.Shehzad Akram(Director)
Mr. Muhammad Younus Khan(Director)


PP products Rs. in thousands 2,800
Liberty Mills Ltd.

A-51/A, S.I.T.E., Karachi.
Mr. Salim N. Mukaty(Chairman) Bank Al-Habib Ltd. M/s. Hyder Bhimji & Co.
Mr. Ashraf Salim Mukaty(Chief Executive) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Luqman F Poonawala(Director) Habib Metropolitan Bank Ltd.
Mr. Noor Muhammad Yusuf Mukaty(Director) Habib Bank Ltd.
Mr. Mohammad Imran Shekhani(Director) Soneri Bank Ltd.
Mr. Madni Gul Muhammad(Director) Meezan Bank Ltd.
Mr. Yousuf N. Mukaty(Director) Allied Bank Ltd.

Dyeing, Printing & Finishing Meters 66,000,000 60,718,057
261
Moonlite (Pak) Ltd.
301, Anum Blessing, Near Duty Free Shop, K.C.H.S., Block 7/8, P.E.C.H.S. Karachi.
Mr. Mohammad Ashraf(Chairman) Askari Commercial Bank Ltd. M/s. Rahman Sarfaraz Rahim Iqbal Rafiq
Mr. Mohammad Sohail(Chief Executive) Bank Al-Habib Ltd.
Mrs. Parsa Sohail(Director) Meezan Bank Ltd.
Mr. Shahid Umer(Director) Muslim Commercial Bank Ltd.
Mrs. Nasreen Ashraf(Director) Soneri Bank Ltd.
Mr. Abdullah Ghulam Ali (NIT)(Director)
Mr. Abdul Aziz(Director)

Wool spinning Kgs 1,700,000 451,333
Noor Silk Mills Ltd.

D/47, S.I.T.E., Mangopir Road, Karachi.
Mr. M. Amin H. Noor Mohammed(Chairman & C. Habib Bank Ltd. M/s Muniff Ziauddin & Co.
Mr. Younus A. Aziz(Director) Natioanl Bank of Paksitan
Mrs. Farida Ashraf(Director)
Mrs. Jamila Ilyas(Director)
Mr. Mohammad Hussain(Director)
Mr. Abdul Rauf Mohammed(Director)
Mr. Ashraf H. Mohammed(Director)

Polyster yarn and silk cloths
262
Pakistan Synthetics Ltd.
3rd Floor, Karachi Dock Labour Board, 58-West Wharf Road, Karachi.
Mr. Ebrahim Haji Karim(Chairman) Meezan Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Umer Haji Karim(Chief Executive) National Bank Of Pakistan
Mr. Yakoob Haji Karim(Director) Bank Al Habib Ltd.
Mr. Rafique Ebrahim(Director) Habib Bank Ltd.
Mr. Sajid Haroon(Director) Habib Metropolitan Bank Ltd.
Mr. Ahmed Ebrahim(Director)
Mr. Anwar Haji Karim(Director)

Poleyester M. Tons 28,000 20,544
Rupali Polyester Ltd.

Rupali House, 241-242, Upper Mall Scheme, Anand Road, Lahore
Mr. Jafferali M. Feerasta(Chairman) Citibank N.A. M/s. Qavi & Co.
Mr. Nooruddin Feerasta(Chief Executive) NIB Bank Ltd.
Mr. Muhammad Ali H. Sayani(Director) Habib Bank Ltd.
Mr. Abdul Hayee(Director) Soneri Bank Ltd.
Mr. Muhammad Rashid Zahir(Director) Bank Al-Habib Ltd.
Syed Ali Zafar(Director) Meezan Bank Ltd.
Mr. Amin A. Feerasta(Director) MCB Bank Ltd.

Yarn M. Tons 10,100 10,478
Fiber M. Tons 12,000 23,840
263
S.G. Fibres Ltd.
B-40, S.I.T.E., Karachi.
Mr. S.M. Ahmed(Chairman / C.E.O.) Mybank Ltd. M/s Muniff Ziauddin Junaidy & Co.
Mst. Zubaida Khatoon(Director) Habib Bank Ltd.
Mr. Wajahat A. Baqai (N.B.P.)(Director) Soneri Bank Ltd.
Mst. Ghazala Ahmed(Director)
Mrs. Tania Asim(Director)
Mr. Mohammad Hanif(Director)
Mr. Abdul Salam(Director)

Yarn M. Tons 10,500 -
The National Silk & Rayon Mills Ltd.

4th Floor, 1.E.P.Building, 97-B/D-1, Gulberg-III, Lahore.
Sh. Faisal Tauheed Puri(Chairman/Chief Exec.) The Bank of Punjab M/s. Amin Mudassar & Company
Sh. Kashif Tauheed Puri(Director) National Bank Of Pakistan
Mst. Amna Kamran(Director)
Mst. Saima Shahid(Director)
Mst. Samira Faisal(Director)
Mst. Sadia Kamran(Director)
Mst. Tahira Kashif(Director)

Cloth Processing Meters 57,600,000 52,254,641
Embroidery Average Meters 2,951,600 2,117,480
264
Tri-Star Polyester Ltd.
F/498, S.I.T.E., Karachi.
Mr. Ahmad Ismail(Chief Executive) Bank Al-Habib Ltd. M/s. Ghalib & Co.
Mr. Tahir Ahmad(Director)
Mrs. Aliya Ahmad(Director)
Mr. Tanveer Hasan(Director)
Mr. Asad Ahmad(Director)
Mr. Muhammad Zameer(Director)
Mr. Rashid Ahmad(Director)

Polyster yarn M.Tons 4,000 -
265
Chemical Sector
Chemical Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 31887.1 35331.5 41442.3 58952.0 66203.5 78994.5
5.Debentures 499.3 721.9 1408.6 13069.4 12879.9 16114.1
B.Liquidity:
1.Liquid Assets: 43067.2 44947.2 47461.3 73786.2 69193.9 95362.5
(i)Cash 17981.7 18196.1 20871.7 18366.9 19418.5 33215.1
(ii)Investments 25085.5 26751.1 26589.6 55419.3 49775.4 62147.4
3.Inventories 15574.4 17755.4 18357.5 19999.7 28447.0 23115.3
C.Fixed Assets:
4.Total assets (B4+C2) 143112.7 149172.8 166685.0 211217.4 252412.9 326727.2
D.Operation:
1.Gross sales 165091.0 182186.4 198891.2 217797.9 255485.9 273214.6
(i)Local sales 163942.3 175604.5 194257.2 216179.4 252752.1 269359.9
(ii)Export sales 1148.7 6581.9 4634.0 1618.5 2733.8 3854.7
2.Cost of Sales 125739.3 137259.1 151305.4 163839.6 176669.5 203251.0
3.Gross profit 39351.7 44927.3 47585.8 53958.3 78816.4 69963.6
8.Tax provision 5534.0 6391.7 6404.0 6992.7 10589.8 12331.8
F.Cash Flow Data
268
Chemicals

200
150
%
100
50
0
2004 2005 2006 2007 2008 2009

Abbott Laboratories (Pakistan) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2281.5 2797.2 3262.9 2710.3 2589.5 2259.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1083.2 1160.8 1608.8 496.1 1051.5 770.8
(i)Cash 1083.2 1160.8 1608.8 496.1 1051.5 770.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 917.6 1217.9 1256.1 1363.5 1696.2 1675.0
9.Net liquid assets (B1-B5) 562.7 508.8 815.3 -496.0 -395.9 -955.3
C.Fixed Assets:
4.Total assets (B4+C2) 3368.7 4129.0 5035.3 4681.3 5015.9 4964.6
D.Operation:
1.Gross sales 4814.9 5346.5 6103.8 6838.6 7377.7 8450.1
(i)Local sales 4706.1 5206.4 5939.8 6665.5 7219.5 8450.1
(ii)Export sales 108.8 140.1 164.0 173.1 158.2 0.0
2.Cost of Sales 2829.5 3050.4 3625.2 4104.7 5280.0 5987.9
3.Gross profit 1985.4 2296.1 2478.6 2733.9 2097.7 2462.2
8.Tax provision 354.4 426.8 417.5 464.6 204.1 314.7
F.Cash Flow Data
270
BOC Pakistan Ltd, (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 795.6 855.8 962.0 1175.7 1257.0 1202.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 263.5 257.2 298.3 546.9 334.5 700.0
(i)Cash 263.5 257.2 298.3 546.9 334.5 500.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 199.7
3.Inventories 90.6 68.4 142.1 156.4 246.3 166.8
C.Fixed Assets:
4.Total assets (B4+C2) 1937.7 1964.8 1968.0 2279.0 2312.4 2315.9
D.Operation:
1.Gross sales 1741.9 1987.4 2647.0 2436.1 2729.6 2307.7
(i)Local sales 1741.9 1987.4 2647.0 2436.1 2729.6 2307.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1062.0 1252.1 1698.6 1502.2 1894.0 1596.8
3.Gross profit 679.9 735.3 948.4 933.9 835.6 710.9
8.Tax provision 92.9 143.2 231.3 237.6 204.5 153.3
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 6.8 16.9 13.4 20.2 -20.1 -32.0
271
Bawany Air Products Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 25.3 12.1 -0.1 -12.3 -36.7 -44.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 8.1 1.5 0.6 0.9 1.6 0.7
(i)Cash 1.0 1.3 0.6 0.9 1.6 0.7
(ii)Investments 7.1 0.2 0.0 0.0 0.0 0.0
3.Inventories 2.5 1.8 0.9 0.9 1.1 1.5
C.Fixed Assets:
4.Total assets (B4+C2) 131.4 160.4 188.5 197.5 204.3 206.4
D.Operation:
1.Gross sales 69.0 62.8 61.8 77.2 81.2 99.4
(i)Local sales 69.0 62.8 61.8 77.2 81.2 99.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 57.4 62.1 64.5 71.9 74.0 75.2
3.Gross profit 11.6 0.7 -2.7 5.3 7.2 24.2
5.Operating profit -0.4 -11.9 -9.7 -8.2 -7.9 9.7
8.Tax provision 0.4 0.3 0.3 0.4 0.3 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -20.3 - -318.4 -97.6 73.7 22.5
7.Cash flow ratio F1 as % of F2 -20.3 - -106.5 -55.3 71.1 16.3
10.Financial expenses as % of operating profit (D6 as % of D5) - - -21.6 -43.9 -205.1 184.5
272
Berger Paints Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 415.4 448.0 490.1 489.4 315.8 600.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 95.4 114.6 162.4 157.0 206.1 184.7
(i)Cash 79.9 96.7 144.5 143.2 192.3 170.9
(ii)Investments 15.5 17.9 17.9 13.8 13.8 13.8
3.Inventories 262.2 430.9 454.4 570.9 873.3 1022.0
C.Fixed Assets:
4.Total assets (B4+C2) 912.0 1381.0 1755.0 2100.0 2863.8 3191.9
D.Operation:
1.Gross sales 1345.3 2242.7 2999.7 3620.5 3988.3 3580.3
(i)Local sales 1328.9 2194.1 2933.6 3536.0 3901.6 3485.8
(ii)Export sales 16.4 48.6 66.1 84.5 86.7 94.5
2.Cost of Sales 1011.3 1726.5 2240.1 2839.2 3345.2 2745.8
3.Gross profit 334.0 516.2 759.6 781.3 643.1 834.5
8.Tax provision 31.8 31.0 52.8 28.5 20.2 0.7
F.Cash Flow Data
273
Biafo Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -32.5 25.0 95.4 168.7 194.3 238.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.2 5.2 7.7 28.7 35.9 70.0
(i)Cash 1.2 5.2 7.7 28.7 35.9 70.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 23.5 21.9 30.9 44.1 59.8 70.1
C.Fixed Assets:
4.Total assets (B4+C2) 331.8 379.4 384.0 464.7 487.3 523.3
D.Operation:
1.Gross sales 219.1 282.6 400.1 530.0 560.8 582.0
(i)Local sales 161.2 282.6 400.1 530.0 560.8 370.7
(ii)Export sales 57.9 0.0 0.0 0.0 0.0 211.3
2.Cost of Sales 163.0 221.6 302.3 389.0 420.5 396.0
3.Gross profit 56.1 61.0 97.8 141.0 140.3 186.0
8.Tax provision 1.2 1.4 0.0 0.0 5.7 35.5
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] -118.9 380.0 0.0 210.2 500.5 141.8
2.Dividend ratio to equity (D9 as % of A3) -74.2 3.6 0.0 13.6 5.1 18.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 33.3 106.3 60.6 0.0 39.6
274
Buxly Paints Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 27.8 31.0 17.6 9.8 15.3 0.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 12.3 9.5 20.3 20.2 14.7 4.7
(i)Cash 10.8 8.0 20.3 20.2 14.7 4.7
(ii)Investments 1.5 1.5 0.0 0.0 0.0 0.0
3.Inventories 15.8 40.2 76.4 27.2 19.2 16.0
C.Fixed Assets:
4.Total assets (B4+C2) 92.2 153.3 162.9 135.2 112.3 86.8
D.Operation:
1.Gross sales 186.1 329.5 376.2 137.7 164.1 96.8
(i)Local sales 186.1 329.5 376.2 137.7 164.1 96.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 142.8 258.5 292.8 104.5 138.2 67.7
3.Gross profit 43.3 71.0 83.4 33.2 25.9 29.1
7.Net profit before tax (D5-D6) 4.4 4.6 -12.9 4.1 6.7 -6.8
8.Tax provision 0.9 1.4 1.5 0.6 0.0 0.0
3.Finance from outside the company (E1-E2) -3.1 1.6 1.4 -11.2 -0.2 -8.7
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 4.8 3.0 -7.9 3.0 6.0 -7.8
15.Return on Equity (D7 as % of A3) 10.4 10.1 -40.3 16.9 22.6 -47.2
3.Net profit margin (D7 as % of D1) 2.4 1.4 -3.4 3.0 4.1 -7.0
4.Earning per share before tax (D7/No. of ordinary shares) 3.1 3.2 -9.0 2.8 4.7 -4.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 2.4 2.2 -10.0 2.4 4.7 -4.7
275
Clariant Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 773.5 930.4 1104.4 1296.3 1651.0 1963.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 103.6 257.3 244.2 209.7 259.1 379.8
(i)Cash 103.6 257.3 244.2 209.7 259.1 379.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 964.1 1222.7 1170.4 1307.1 1509.3 1359.5
C.Fixed Assets:
4.Total assets (B4+C2) 2941.9 3426.8 3597.2 4256.3 4726.5 4973.6
D.Operation:
1.Gross sales 5025.9 5543.4 5582.1 6335.1 7723.1 7697.0
(i)Local sales 5025.9 5503.9 5542.7 6259.2 7423.6 7292.9
(ii)Export sales 0.0 39.5 39.4 75.9 299.5 404.1
2.Cost of Sales 4129.4 4405.6 4595.5 5000.1 5921.3 5895.8
3.Gross profit 896.5 1137.8 986.6 1335.0 1801.8 1801.2
8.Tax provision 190.2 240.0 248.2 195.6 197.8 256.0
F.Cash Flow Data
276
Colgate-Palmolive (Pakistan) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 535.8 807.9 1153.5 1536.8 1938.8 2444.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 249.2 216.5 552.0 420.7 773.1 1024.7
(i)Cash 249.2 216.5 390.6 420.7 592.9 1024.7
(ii)Investments 0.0 0.0 161.4 0.0 180.2 0.0
3.Inventories 432.8 536.7 614.3 777.9 1006.4 1128.4
C.Fixed Assets:
4.Total assets (B4+C2) 1409.1 1508.7 2088.3 2633.1 3126.8 3923.6
D.Operation:
1.Gross sales 4195.2 4883.3 6286.4 7445.8 8976.5 11184.9
(i)Local sales 4195.2 4883.3 6286.4 7445.8 8976.5 11184.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 3233.2 3824.9 4671.1 5566.1 6879.7 8482.8
3.Gross profit 962.0 1058.4 1615.3 1879.7 2096.8 2702.1
8.Tax provision 117.0 132.5 263.1 283.0 300.6 388.3
F.Cash Flow Data
277
Data Agro Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -22.6 -19.9 9.5 9.8 11.6 10.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.8 4.5 1.3 2.8 2.0 6.9
(i)Cash 7.8 4.5 1.3 2.8 2.0 6.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1.2 4.5 7.3 16.0 9.7 12.2
C.Fixed Assets:
4.Total assets (B4+C2) 63.2 64.7 102.5 103.4 103.7 104.9
D.Operation:
1.Gross sales 26.7 29.4 29.9 29.2 58.9 51.5
(i)Local sales 26.7 29.4 29.9 29.2 58.9 51.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 18.7 20.1 25.7 22.5 51.6 43.7
3.Gross profit 8.0 9.3 4.2 6.7 7.3 7.8
8.Tax provision 0.1 0.1 0.1 0.1 0.3 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 26.8 117.1 -5.8 1.2 -0.5 -16.7
278
Dawood Hercules Chemicals Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 9015.4 8691.0 8444.5 18060.7 16288.8 18788.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 12374.3 10878.4 13504.1 25590.3 22373.0 25220.7
(i)Cash 1072.6 398.9 56.3 1097.8 933.9 278.1
(ii)Investments 11301.7 10479.5 13447.8 24492.5 21439.1 24942.6
3.Inventories 68.2 164.4 237.3 867.5 89.6 83.3
C.Fixed Assets:
4.Total assets (B4+C2) 14142.0 12787.1 16162.8 29222.7 25630.1 29607.4
D.Operation:
1.Gross sales 3087.3 3712.2 4333.9 5543.5 7665.2 11040.4
(i)Local sales 3087.3 3712.2 4333.9 5543.5 7665.2 11040.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2269.5 2452.2 3022.4 3681.0 4549.0 7080.5
3.Gross profit 817.8 1260.0 1311.5 1862.5 3116.2 3959.9
8.Tax provision 181.0 314.0 104.0 529.0 693.0 858.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 11.7 - -1796.0 64.2 -13.5 -17.1
7.Cash flow ratio F1 as % of F2 14.7 - -4503.5 64.5 -15.6 -15.2
1.Dividend cover ratio [(D7 - D8) as % of D9] 152.1 501.8 0.0 4262.7 496.2 -244.9
279
Descon Chemicals Ltd. (Nimir Resins Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -295.5 -295.6 -293.5 -243.2 -135.4 -177.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.1 2.2 1.2 3.1 1.5 5.8
(i)Cash 1.1 2.2 1.2 3.1 1.5 5.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 30.6 48.2 47.0 106.1 155.3 61.6
C.Fixed Assets:
4.Total assets (B4+C2) 215.1 250.7 252.3 395.7 526.6 418.2
D.Operation:
1.Gross sales 221.8 386.8 580.1 752.0 1221.4 894.7
(i)Local sales 221.8 386.8 580.1 752.0 1221.4 894.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 215.6 367.3 548.3 699.5 1086.6 829.3
3.Gross profit 6.2 19.5 31.8 52.5 134.8 65.4
5.Operating profit -60.8 -31.1 -15.5 38.6 119.6 18.9
7.Net profit before tax (D5-D6) -69.7 -38.2 -34.7 11.2 91.8 -18.2
8.Tax provision 1.1 1.7 2.5 3.3 5.3 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -60.9 -31.3 -29.2 15.3 -64.3 -11.6
5.Return on assets (D7 as % of C4) -32.4 -15.2 -13.8 2.8 17.4 -4.4
10.Financial expenses as % of operating profit (D6 as % of D5) - - -123.9 71.0 23.2 196.3
15.Return on Equity (D7 as % of A3) -345.0 -190.0 -156.3 15.4 50.9 -13.2
3.Net profit margin (D7 as % of D1) -31.4 -9.9 -6.0 1.5 7.5 -2.0
4.Earning per share before tax (D7/No. of ordinary shares) -2.2 -1.2 -1.1 0.4 2.9 -0.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -2.2 -1.3 -1.2 0.3 2.7 -0.6
280
Descon Oxychem Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
1.Ordinary Share Capital - - - - 695.0 1020.0
2.Surplus - - - - -86.7 -97.5
3.Shareholder's Equity (A1+A2) - - - - 608.3 922.5
4.Prefrence Shares - - - - 0.0 0.0
5.Debentures - - - - 0.0 0.0
6.Other Fixed Liabilities - - - - 955.7 1469.8
7.Total Fixed Liabilities (A4+A5+A6) - - - - 955.7 1469.8
8.Total Capital Employed (A3+A7) - - - - 1564.0 2392.3
B.Liquidity:
1.Liquid Assets: - - - - 165.1 3.3
(i)Cash - - - - 165.1 3.3
(ii)Investments - - - - 0.0 0.0
2.Other Current Assets - - - - 52.6 343.3
3.Inventories - - - - 0.0 56.1
4.Current Assets (B1+B2+B3) - - - - 217.7 402.7
5.Current Liabilities - - - - 82.5 622.8
6.Total Liabilities(A7+B5) - - - - 1038.2 2092.6
7.Net Current Assets(B4-B5) - - - - 135.2 -220.1
8.Contractual Liabilities - - - - 955.7 1729.1
9.Net liquid assets (B1-B5) - - - - 82.6 -619.5
C.Fixed Assets:
1.Fixed Asset At Cost - - - - 1429.9 2667.0
2.Fixed assets after deducting accumulated depreciation - - - - 1428.8 2612.4
3.Depreciation for the year - - - - 1.0 53.4
4.Total assets (B4+C2) - - - - 1646.5 3015.1
D.Operation:
1.Gross sales - - - - 0.0 191.3
(i)Local sales - - - - 0.0 168.5
(ii)Export sales - - - - 0.0 22.8
2.Cost of Sales - - - - 0.0 199.5
3.Gross profit - - - - 0.0 -8.2
4.Overhead and Other Expenses - - - - 10.2 244.2
5.Operating profit - - - - -10.2 -52.9
6.Financial expenses - - - - 0.0 96.2
7.Net profit before tax (D5-D6) - - - - -10.2 -149.1
8.Tax provision - - - - 0.0 0.2
9.Total amount of dividend - - - - 0.0 0.0
10.Total value of bonus shares issued - - - - 0.0 0.0
2.Retention in business (D7-D8-D9) - - - - -10.2 -149.3
3.Finance from outside the company (E1-E2) - - - - - 977.6
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - -9.2 -95.9
1.Gearing ratio (A7 as % of A8) - - - - 61.1 61.4
2.Current ratio (B4 as % of B5) - - - - 263.9 64.7
3.Acid test or Quick ratio (B4-B3 as % B5) - - - - 263.9 55.7
4.Debt equity ratio (B6 as % of A3) - - - - 170.7 226.8
5.Return on assets (D7 as % of C4) - - - - -0.6 -4.9
6.Self financing ratio (E2 as % of E1) - - - - 0.0 -18.0
7.Cash flow ratio F1 as % of F2 - - - - 0.0 -10.9
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - - 87.5 90.4
9.Overhead and other expenses as % of gross sales (D4 as % D1) - - - - 0.0 127.7
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - 0.0 -181.9
11.Financial expense as % of gross sales (D6 as % of D1) - - - - 0.0 50.3
12.Financial expenses as % of contractual liabilities (D6 as % B8) - - - - 0.0 5.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - - 0.0 -0.1
14.Sundry debtors as % of gross sales - - - - 0.0 0.6
15.Return on Equity (D7 as % of A3) - - - - -1.7 -16.2
1.Dividend cover ratio [(D7 - D8) as % of D9] - - - - 0.0 0.0
2.Dividend ratio to equity (D9 as % of A3) - - - - 0.0 0.0
3.Net profit margin (D7 as % of D1) - - - - 0.0 -77.9
4.Earning per share before tax (D7/No. of ordinary shares) - - - - -0.1 -1.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - -0.1 -1.5
6.Average annual % depreciation on written down fixed assets - - - - 0.4 3.7
7.Sales as % of total assets (D1 as % of C4) - - - - 0.0 6.3
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - - -110.0 1400.0
10.Break-up value of ordinary shares (in rupees) - - - - 8.8 9.0
281
Dynea Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 171.1 165.4 198.6 202.2 242.0 298.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.6 11.9 8.9 9.4 17.7 27.9
(i)Cash 5.6 11.9 8.9 9.4 17.7 27.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 119.9 137.1 147.6 163.8 233.1 155.2
C.Fixed Assets:
4.Total assets (B4+C2) 530.6 537.5 592.3 543.9 652.3 499.4
D.Operation:
1.Gross sales 1000.3 1133.4 1305.2 1379.1 1507.1 1297.0
(i)Local sales 1000.3 1133.4 1305.2 1379.1 1507.1 1297.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 951.3 1024.0 1124.3 1247.0 1319.1 1083.9
3.Gross profit 49.0 109.4 180.9 132.1 188.0 213.1
8.Tax provision 4.1 4.9 5.6 0.0 27.0 27.8
F.Cash Flow Data
10.Financial expenses as % of operating profit (D6 as % of D5) -257.6 55.5 23.4 36.5 14.7 20.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) -34.7 52.7 9.3 0.0 41.8 36.0
282
Engro Corporation Limited (Engro Cheml Pakistan Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 5131.2 5894.9 7669.7 13413.3 18802.5 23786.1
5.Debentures 0.0 0.0 0.0 11422.5 12879.9 14871.4
B.Liquidity:
1.Liquid Assets: 3729.9 3453.3 5462.8 15535.9 12846.7 17394.8
(i)Cash 1441.1 1142.5 1805.2 1617.5 1687.0 3955.3
(ii)Investments 2288.8 2310.8 3657.6 13918.4 11159.7 13439.5
3.Inventories 484.7 1923.0 923.4 2690.2 4680.9 422.6
C.Fixed Assets:
4.Total assets (B4+C2) 13175.3 14090.1 15962.7 38022.8 57041.9 93586.7
D.Operation:
1.Gross sales 13067.7 18756.8 19072.2 36625.8 23317.2 30171.5
(i)Local sales 13067.7 18756.8 19072.2 36625.8 23317.2 30171.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 9331.1 14072.8 14835.0 28643.5 1720.6 23240.2
3.Gross profit 3736.6 4684.0 4237.2 7982.3 21596.6 6931.3
8.Tax provision 751.7 948.8 834.4 1125.5 949.6 1135.1
F.Cash Flow Data
283
Engro Polymer & Chemicals Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - - - 204.7
3.Shareholder's Equity (A1+A2) - - - - - 5408.4
5.Debentures - - - - - 0.0
B.Liquidity:
1.Liquid Assets: - - - - - 278.9
(i)Cash - - - - - 217.5
3.Inventories - - - - - 1605.4
C.Fixed Assets:
4.Total assets (B4+C2) - - - - - 22787.6
D.Operation:
1.Gross sales - - - - - 11632.7
(i)Local sales - - - - - 10169.3
(ii)Export sales - - - - - 1463.4
2.Cost of Sales - - - - - 10418.6
3.Gross profit - - - - - 1214.1
5.Operating profit - - - - - 408.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - - 250.7
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - - - - 103.9
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - - 148.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - - - -36.4
15.Return on Equity (D7 as % of A3) - - - - - -3.6
10.Break-up value of ordinary shares (in rupees) - - - - - 10.4
284
Fauji Fertilizer Bin Qasim Ltd (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -2194.5 -1613.6 -803.4 -832.2 1145.3 1318.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5437.2 7665.9 8646.9 9106.4 10358.3 16434.9
(i)Cash 5078.6 6931.6 7235.7 3800.6 7941.5 9648.0
(ii)Investments 358.6 734.3 1411.2 5305.8 2416.8 6786.9
3.Inventories 252.3 1023.0 800.5 587.9 5676.7 1227.0
C.Fixed Assets:
4.Total assets (B4+C2) 21966.9 24581.5 27681.3 29046.0 46771.6 36225.1
D.Operation:
1.Gross sales 12532.8 15277.2 15777.6 13167.1 27410.8 36724.9
(i)Local sales 12532.8 15277.2 15777.6 13167.1 27410.8 36724.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 9272.0 10714.7 11093.4 8344.6 19184.7 27059.6
3.Gross profit 3260.8 4562.5 4684.2 4822.5 8226.1 9665.3
8.Tax provision 0.0 0.0 0.0 0.0 1419.2 2195.2
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 475.0 82.6 -4.8 5.0 11.9 31.9
285
Fauji Fertilizer Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 7882.9 6178.8 6452.6 6226.1 5781.3 4728.0
5.Debentures 0.0 433.0 216.5 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11387.0 13425.4 8032.6 10702.8 12188.2 18345.4
(i)Cash 1055.8 1172.1 1623.2 1350.0 931.9 3849.3
(ii)Investments 10331.2 12253.3 6409.4 9352.8 11256.3 14496.1
3.Inventories 219.2 560.5 952.9 642.8 258.1 144.1
9.Net liquid assets (B1-B5) 423.4 -1255.3 -5247.4 -3137.1 -2067.3 -2545.0
C.Fixed Assets:
4.Total assets (B4+C2) 24664.7 26775.3 25861.1 27672.0 30349.7 36982.3
D.Operation:
1.Gross sales 39946.4 43481.9 48595.9 40688.8 57433.7 36163.2
(i)Local sales 39946.4 43481.9 48595.9 40688.8 57433.7 36163.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 28800.1 29799.3 34180.2 25731.8 36829.4 20515.0
3.Gross profit 11146.3 13682.6 14415.7 14957.0 20604.3 15648.2
8.Tax provision 2184.0 2323.0 2354.0 2505.0 4738.2 3642.1
3.Finance from outside the company (E1-E2) -5576.8 -4710.2 -2136.8 -2210.8 -16.6 -494.7
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - 539.2 276.7 100.7 -23457.1
286
Ferozsons Laboratories Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 248.6 360.7 679.1 819.0 933.6 1044.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 80.1 142.7 237.3 378.3 433.7 237.1
(i)Cash 41.0 66.5 12.3 41.7 35.8 22.3
(ii)Investments 39.1 76.2 225.0 336.6 397.9 214.8
3.Inventories 84.6 97.1 145.3 133.8 180.8 273.0
9.Net liquid assets (B1-B5) -55.1 23.9 79.7 175.8 187.8 -25.4
C.Fixed Assets:
4.Total assets (B4+C2) 441.5 568.6 942.5 1218.4 1481.6 1579.9
D.Operation:
1.Gross sales 546.4 806.2 923.0 1022.5 1045.2 1085.4
(i)Local sales 546.4 806.2 923.0 1022.5 1045.2 1085.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 237.6 418.0 476.6 515.6 504.5 501.2
3.Gross profit 308.8 388.2 446.4 506.9 540.7 584.2
8.Tax provision 44.4 64.6 63.2 56.8 74.2 58.7
3.Finance from outside the company (E1-E2) -19.5 10.5 216.8 107.5 45.0 -88.0
F.Cash Flow Data
287
Glaxosmithkline (Pakistan) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 4866.8 5850.7 6171.5 6410.9 6648.2 6397.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3460.8 4372.0 4862.0 4697.8 3052.3 2552.8
(i)Cash 3054.1 3984.3 4666.5 4252.7 2724.9 1739.2
(ii)Investments 406.7 387.7 195.5 445.1 327.4 813.6
3.Inventories 1632.3 1973.0 2195.4 2277.2 3494.1 4061.8
9.Net liquid assets (B1-B5) 2336.3 3054.5 2955.1 2650.9 781.6 -351.0
C.Fixed Assets:
4.Total assets (B4+C2) 6865.2 8260.5 9443.8 10164.5 10625.8 11007.8
D.Operation:
1.Gross sales 8993.8 9554.1 10240.1 10784.8 13687.0 14719.2
(i)Local sales 8839.8 9369.9 10025.5 10528.5 13397.4 14328.8
(ii)Export sales 154.0 184.2 214.6 256.3 289.6 390.4
2.Cost of Sales 5488.1 5707.7 6373.4 6832.7 9831.5 11173.5
3.Gross profit 3505.7 3846.4 3866.7 3952.1 3855.5 3545.7
8.Tax provision 629.0 875.0 944.4 877.9 990.0 670.0
3.Finance from outside the company (E1-E2) -109.4 -5.4 -1.3 80.2 -152.2 -294.2
F.Cash Flow Data
288
Highnoon Laboratories Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 312.2 366.1 353.2 464.4 467.3 499.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 25.6 33.5 35.6 31.9 17.2 35.2
(i)Cash 25.6 13.5 15.6 11.9 7.2 35.2
(ii)Investments 0.0 20.0 20.0 20.0 10.0 0.0
3.Inventories 283.2 281.7 359.6 418.4 449.9 700.5
C.Fixed Assets:
4.Total assets (B4+C2) 982.6 1035.9 1116.3 1295.2 1409.7 1688.6
D.Operation:
1.Gross sales 1107.8 1384.9 1640.5 2072.1 2354.3 2334.8
(i)Local sales 1071.4 1339.0 1549.4 2010.2 2295.0 2233.8
(ii)Export sales 36.4 45.9 91.1 61.9 59.3 101.0
2.Cost of Sales 733.1 905.8 976.3 1272.5 1547.7 1488.6
3.Gross profit 374.7 479.1 664.2 799.6 806.6 846.2
8.Tax provision 22.1 14.8 45.0 54.8 15.9 33.6
F.Cash Flow Data
289
ICI Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 7223.4 8687.1 9929.4 10982.9 12015.2 13026.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1866.7 1900.2 2003.7 4197.6 2683.6 5180.8
(i)Cash 1864.2 1687.7 1791.2 3615.1 1971.1 4468.3
(ii)Investments 2.5 212.5 212.5 582.5 712.5 712.5
3.Inventories 2923.7 2511.5 2347.8 2311.3 2952.0 3244.5
C.Fixed Assets:
4.Total assets (B4+C2) 13861.2 14635.9 16857.9 18766.5 18463.1 21422.7
D.Operation:
1.Gross sales 21243.5 21054.3 21885.3 25973.0 27798.9 28429.9
(i)Local sales 21243.5 21054.3 21885.3 25973.0 27032.2 28429.9
(ii)Export sales 0.0 0.0 0.0 0.0 766.7 0.0
2.Cost of Sales 18434.6 17852.0 17934.1 21308.9 22303.1 22754.0
3.Gross profit 2808.9 3202.3 3951.2 4664.1 5495.8 5675.9
8.Tax provision 116.1 0.0 2.4 127.7 102.8 490.8
F.Cash Flow Data
12.Financial expenses as % of contractual liabilities (D6 as % B8) 234.9 - 9000.0 0.0 0.0 0.0
290
Ittehad Chemicals Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 159.2 231.6 963.6 1046.3 1054.9 1276.3
5.Debentures 250.0 166.5 83.3 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 344.2 81.1 259.5 94.6 177.0 192.5
(i)Cash 286.7 80.8 257.7 29.1 40.9 26.0
(ii)Investments 57.5 0.3 1.8 65.5 136.1 166.5
3.Inventories 40.4 95.0 144.6 102.3 144.3 105.7
7.Net Current Assets(B4-B5) 210.0 -75.3 -186.9 -280.8 144.6 304.9
C.Fixed Assets:
4.Total assets (B4+C2) 1576.5 2396.4 3558.7 3531.9 3486.9 3802.3
D.Operation:
1.Gross sales 1550.3 2208.1 2519.2 2958.6 3171.0 3568.3
(i)Local sales 1547.1 2208.1 2519.2 2958.6 3171.0 3457.7
(ii)Export sales 3.2 0.0 0.0 0.0 0.0 110.6
2.Cost of Sales 1385.3 1875.0 2053.9 2336.6 2636.2 2748.0
3.Gross profit 165.0 333.1 465.3 622.0 534.8 820.3
8.Tax provision 20.0 9.7 11.0 12.9 14.4 35.8
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -94.8 0.0 86.7 16.1 -61.5 208.0
291
Leiner Pak Gelatine Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 64.0 65.1 79.6 64.7 129.7 150.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.1 2.1 1.8 1.2 1.1 1.2
(i)Cash 2.1 2.1 1.8 1.2 1.1 1.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 80.1 0.0 111.9 112.8 130.6 144.7
C.Fixed Assets:
4.Total assets (B4+C2) 264.0 280.7 265.8 271.4 359.7 383.7
D.Operation:
1.Gross sales 216.4 229.9 265.8 273.5 254.4 431.0
(i)Local sales 49.7 69.1 100.2 118.1 126.8 257.6
(ii)Export sales 166.7 160.8 165.6 155.4 127.6 173.4
2.Cost of Sales 175.6 176.8 203.5 227.6 216.2 349.9
3.Gross profit 40.8 53.1 62.3 45.9 38.2 81.1
8.Tax provision 2.3 4.1 5.4 3.1 2.4 8.7
2.Retention in business (D7-D8-D9) -1.5 2.3 15.0 2.0 -2.2 11.8
F.Cash Flow Data
292
Lotte Pakistan PTA Ltd.(Pakistan PTA Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -9752.3 -8702.4 -9255.4 -9314.5 -10988.9 -7605.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 21.6 32.2 57.7 74.2 16.4 5437.9
(i)Cash 21.6 32.2 57.7 74.2 16.4 5437.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 4030.6 2835.6 3703.1 2344.6 1244.3 1273.9
C.Fixed Assets:
4.Total assets (B4+C2) 19377.9 17426.6 17915.8 17314.9 15222.9 18976.3
D.Operation:
1.Gross sales 26953.2 28424.9 30815.4 31535.5 35975.2 37773.5
(i)Local sales 26953.2 23170.9 27577.8 31535.5 35975.2 37770.7
(ii)Export sales 0.0 5254.0 3237.6 0.0 0.0 2.8
2.Cost of Sales 23640.2 25754.3 28579.0 30185.5 35106.9 31898.1
3.Gross profit 3313.0 2670.6 2236.4 1350.0 868.3 5875.4
8.Tax provision 110.0 410.9 485.0 206.8 65.9 1296.5
F.Cash Flow Data
293
Nimir Industrial Chemicals Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -339.0 -338.7 -746.9 -846.0 -844.8 -991.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 48.3 126.3 93.4 135.2 49.6 2.7
(i)Cash 48.3 126.3 93.4 135.2 49.6 2.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 49.0 67.4 66.9 123.1 210.7 180.2
C.Fixed Assets:
4.Total assets (B4+C2) 1416.1 1419.3 1452.0 1648.9 1692.4 1674.7
D.Operation:
1.Gross sales 406.9 573.6 612.9 711.5 1121.6 1383.6
(i)Local sales 406.9 573.6 612.9 706.9 1106.2 1378.3
(ii)Export sales 0.0 0.0 0.0 4.6 15.4 5.3
2.Cost of Sales 452.0 572.9 634.2 692.6 970.3 1282.7
3.Gross profit -45.1 0.7 -21.3 18.9 151.3 100.9
5.Operating profit -108.4 -223.5 -56.1 -37.6 96.5 -58.6
8.Tax provision 2.0 2.9 3.0 5.0 5.4 0.0
2.Retention in business (D7-D8-D9) -171.2 -279.6 -120.1 -98.8 22.5 -146.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -217.8 -146.2 21.3 75.2 -62.2 115.8
7.Cash flow ratio F1 as % of F2 -96.4 -114.5 14.3 55.7 315.8 133.0
10.Financial expenses as % of operating profit (D6 as % of D5) - - -108.7 -149.5 71.1 -150.2
15.Return on Equity (D7 as % of A3) -45.9 -50.7 -32.6 -36.1 10.7 -128.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -2.4 -3.2 -1.1 -0.9 0.2 -1.3
294
Otsuka Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 89.7 134.6 160.2 202.0 244.8 244.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.7 2.1 2.9 4.0 3.2 2.7
(i)Cash 2.7 2.1 2.9 4.0 3.2 2.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 89.1 91.7 81.3 151.5 185.0 216.9
C.Fixed Assets:
4.Total assets (B4+C2) 343.6 450.3 518.0 652.9 819.6 810.9
D.Operation:
1.Gross sales 534.8 721.2 834.3 991.0 1217.5 1236.3
(i)Local sales 534.8 721.2 834.3 991.0 1217.5 1236.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 345.0 506.7 588.3 688.2 868.8 922.7
3.Gross profit 189.8 214.5 246.0 302.8 348.7 313.6
8.Tax provision 20.5 20.9 11.7 33.8 11.6 22.4
3.Finance from outside the company (E1-E2) -4.1 22.2 -17.9 33.7 -38.0 -19.6
F.Cash Flow Data
295
Pakistan Gum & Chemicals Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 98.3 106.5 106.5 101.4 144.4 132.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.2 8.8 8.8 15.5 28.6 10.4
(i)Cash 4.2 8.8 8.8 15.5 28.6 10.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 146.5 186.0 186.0 123.4 164.3 300.2
C.Fixed Assets:
4.Total assets (B4+C2) 289.2 287.1 287.1 276.1 338.0 454.4
D.Operation:
1.Gross sales 400.1 443.1 443.1 619.4 792.9 567.0
(i)Local sales 90.4 167.1 167.1 197.0 234.3 185.5
(ii)Export sales 309.7 276.0 276.0 422.4 558.6 381.5
2.Cost of Sales 333.1 375.9 375.9 555.1 694.1 499.7
3.Gross profit 67.0 67.2 67.2 64.3 98.8 67.3
8.Tax provision 5.2 6.3 6.3 7.4 9.0 4.7
F.Cash Flow Data
296
Pakistan PVC Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -250.4 -212.4 -236.4 -101.7 -24.7 -201.2
3.Shareholder's Equity (A1+A2) -200.5 -162.5 -86.8 47.9 124.9 -51.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -200.5 -162.5 -86.8 47.9 124.9 -51.6
B.Liquidity:
1.Liquid Assets: 0.1 0.7 0.3 0.2 0.1 0.0
(i)Cash 0.1 0.7 0.3 0.2 0.1 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.7 2.1 1.7 0.9 0.4 0.8
C.Fixed Assets:
4.Total assets (B4+C2) 374.5 374.7 370.8 363.7 354.9 192.2
D.Operation:
1.Gross sales 11.8 13.8 15.7 16.4 12.1 3.8
(i)Local sales 8.5 13.8 15.7 16.4 12.1 3.8
(ii)Export sales 3.3 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 17.0 19.6 25.3 23.0 17.6 25.8
3.Gross profit -5.2 -5.8 -9.6 -6.6 -5.5 -22.0
8.Tax provision 0.1 0.1 0.1 0.1 0.0 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - -95.8 -31.6 -14.3 100.0 11.3
7.Cash flow ratio F1 as % of F2 - -75.1 -24.8 -11.3 100.0 9.8
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -401.8 -325.7 -58.0 32.0 83.5 -34.5
10.Financial expenses as % of operating profit (D6 as % of D5) - - 640.9 -61.9 8.7 -57.9
15.Return on Equity (D7 as % of A3) - - 0.0 -39.9 61.6 0.0
10.Break-up value of ordinary shares (in rupees) -40.2 -32.6 -5.8 3.2 8.3 -3.4
297
Sanofi-Aventis Pakistan Ltd. (Aventis Pharma) (Million Rupees)
Items 2004 2005 2006 2007 2008 2009
2.Surplus 578.6 807.5 1019.7 1016.8 1019.5 1192.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 52.7 6.2 3.9 2.1 2.2 2.3
(i)Cash 52.7 6.2 3.9 2.1 2.2 2.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 596.3 1074.0 797.3 1077.0 1104.9 1136.7
C.Fixed Assets:
4.Total assets (B4+C2) 1483.9 2121.2 1988.0 2427.1 2983.5 3435.2
D.Operation:
1.Gross sales 3351.4 3684.0 4150.2 4203.6 4676.5 6725.7
(i)Local sales 3351.4 3684.0 4122.6 4190.2 4648.7 6696.4
(ii)Export sales 0.0 0.0 27.6 13.4 27.8 29.3
2.Cost of Sales 2366.7 2519.8 2885.9 3117.6 3620.7 5099.1
3.Gross profit 984.7 1164.2 1264.3 1086.0 1055.8 1626.6
8.Tax provision 125.6 140.1 111.9 35.4 47.4 95.7
F.Cash Flow Data
298
Sardar Chemical Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 28.5 27.0 27.4 30.2 30.8 32.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.5 0.8 3.1 7.4 3.0 7.7
(i)Cash 2.5 0.8 3.1 7.4 3.0 7.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 44.6 42.8 40.4 38.8 39.5 28.8
C.Fixed Assets:
4.Total assets (B4+C2) 157.2 154.4 153.6 163.1 164.8 161.9
D.Operation:
1.Gross sales 108.9 103.8 107.1 117.5 125.1 127.7
(i)Local sales 104.9 99.4 101.9 114.0 122.3 126.9
(ii)Export sales 4.0 4.4 5.2 3.5 2.8 0.8
2.Cost of Sales 85.5 81.9 80.3 84.0 95.0 94.9
3.Gross profit 23.4 21.9 26.8 33.5 30.1 32.8
7.Net profit before tax (D5-D6) 1.3 -1.0 1.1 4.8 2.2 2.5
8.Tax provision 0.5 0.5 0.5 0.6 0.8 0.9
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 0.8 -0.6 0.7 2.9 1.3 1.5
6.Self financing ratio (E2 as % of E1) 42.1 - -120.0 50.0 -107.7 53.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 38.5 - 45.5 12.5 36.4 36.0
15.Return on Equity (D7 as % of A3) 1.5 -1.1 1.3 5.3 2.4 2.7
3.Net profit margin (D7 as % of D1) 1.2 -1.0 1.0 4.1 1.8 2.0
4.Earning per share before tax (D7/No. of ordinary shares) 0.2 -0.2 0.2 0.8 0.4 0.4
299
Searle Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 613.0 700.9 712.0 705.9 839.3 944.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 274.2 225.0 273.9 93.8 269.3 289.2
(i)Cash 74.2 25.0 73.9 93.8 69.3 189.2
(ii)Investments 200.0 200.0 200.0 0.0 200.0 100.0
3.Inventories 208.2 216.2 239.6 385.6 223.5 272.1
C.Fixed Assets:
4.Total assets (B4+C2) 1884.0 1895.5 2322.6 2459.3 2279.1 2323.9
D.Operation:
1.Gross sales 2026.7 2473.2 3240.5 3114.5 3253.4 2708.9
(i)Local sales 1916.9 2295.0 3064.7 2964.9 3147.1 2527.2
(ii)Export sales 109.8 178.2 175.8 149.6 106.3 181.7
2.Cost of Sales 1355.7 1813.9 2289.4 2155.7 2287.5 1551.4
3.Gross profit 671.0 659.3 951.1 958.8 965.9 1157.5
8.Tax provision 65.5 41.6 71.8 64.1 81.6 122.3
F.Cash Flow Data
300
Shaffi Chemical Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -60.8 -7.9 12.6 56.3 52.5 92.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 14.8 14.3 14.7 57.9 55.4 88.3
(i)Cash 0.6 0.1 0.5 0.1 0.5 0.6
(ii)Investments 14.2 14.2 14.2 57.8 54.9 87.7
3.Inventories 25.0 13.3 10.8 14.4 7.0 0.3
C.Fixed Assets:
4.Total assets (B4+C2) 244.5 230.2 227.2 274.0 285.7 324.1
D.Operation:
1.Gross sales 13.7 13.1 5.8 12.7 128.6 125.5
(i)Local sales 13.7 13.1 5.8 12.7 128.6 125.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 13.7 22.2 9.9 12.5 100.6 105.6
3.Gross profit 0.0 -9.1 -4.1 0.2 28.0 19.9
8.Tax provision 0.1 0.1 0.0 0.1 0.6 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -49.0 56.3 23.6 46.5 -1.2 42.6
6.Self financing ratio (E2 as % of E1) - 64.3 84.9 3.9 -276.3 102.0
7.Cash flow ratio F1 as % of F2 - 66.4 86.9 9.7 -1091.7 101.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -42.7 -4.4 -55.7 119.0 912.6 -2.4
301
Sitara Chemical Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1059.2 1309.1 1472.3 1736.7 3338.2 3764.4
5.Debentures 249.3 122.4 1108.9 1646.9 0.0 1242.7
B.Liquidity:
1.Liquid Assets: 150.3 99.1 416.4 335.5 1593.3 371.2
(i)Cash 116.0 81.4 401.0 252.7 240.9 294.2
(ii)Investments 34.3 17.7 15.4 82.8 1352.4 77.0
3.Inventories 347.6 319.1 407.0 441.7 526.9 773.8
C.Fixed Assets:
4.Total assets (B4+C2) 3051.4 3622.1 5370.4 6384.6 8793.4 10113.4
D.Operation:
1.Gross sales 3566.7 4584.4 4383.3 5043.0 6355.4 6178.4
(i)Local sales 3526.8 4488.4 4383.3 4989.7 6292.2 6103.0
(ii)Export sales 39.9 96.0 0.0 53.3 63.2 75.4
2.Cost of Sales 2936.7 3684.0 3678.2 3958.7 4800.1 4216.6
3.Gross profit 630.0 900.4 705.1 1084.3 1555.3 1961.8
8.Tax provision 154.0 132.7 1.0 21.9 320.9 303.2
F.Cash Flow Data
302
Sitara Peroxide Limited (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - - - 368.7
5.Debentures - - - - - 0.0
B.Liquidity:
1.Liquid Assets: - - - - - 6.7
(i)Cash - - - - - 6.7
3.Inventories - - - - - 343.5
C.Fixed Assets:
4.Total assets (B4+C2) - - - - - 2968.8
D.Operation:
1.Gross sales - - - - - 628.5
(i)Local sales - - - - - 622.7
2.Cost of Sales - - - - - 525.9
3.Gross profit - - - - - 102.6
F.Cash Flow Data
303
Wah Nobel Chemicals Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 106.7 131.6 123.1 125.1 209.1 261.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 47.3 38.4 33.9 56.3 40.8 53.9
(i)Cash 22.3 13.4 8.9 30.6 9.4 18.7
(ii)Investments 25.0 25.0 25.0 25.7 31.4 35.2
3.Inventories 38.9 49.2 46.3 57.3 117.4 50.3
C.Fixed Assets:
4.Total assets (B4+C2) 391.2 403.1 412.7 426.3 570.1 540.5
D.Operation:
1.Gross sales 304.2 572.1 643.6 571.5 810.2 715.3
(i)Local sales 304.2 572.1 643.6 571.5 810.2 715.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 249.8 498.6 565.5 490.4 588.5 490.1
3.Gross profit 54.4 73.5 78.1 81.1 221.7 225.2
8.Tax provision 11.5 2.9 6.7 12.3 0.0 51.8
F.Cash Flow Data
304
Wyeth Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 688.0 934.7 1135.9 1269.3 988.7 840.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 80.7 397.4 600.5 772.0 137.9 35.6
(i)Cash 80.7 397.4 25.5 52.0 50.9 35.6
(ii)Investments 0.0 0.0 575.0 720.0 87.0 0.0
3.Inventories 471.1 498.7 610.8 563.2 756.4 800.8
9.Net liquid assets (B1-B5) -180.9 54.7 191.5 358.7 -240.8 -434.4
C.Fixed Assets:
4.Total assets (B4+C2) 1094.4 1419.6 1687.0 1824.8 1509.5 1452.3
D.Operation:
1.Gross sales 1885.3 1885.9 2013.5 2170.2 2491.0 2306.3
(i)Local sales 1746.7 1731.7 1842.4 2005.7 2318.7 2105.8
(ii)Export sales 138.6 154.2 171.1 164.5 172.3 200.5
2.Cost of Sales 1139.0 1221.9 1256.4 1434.9 1786.3 1805.3
3.Gross profit 746.3 664.0 757.1 735.3 704.7 501.0
8.Tax provision 117.3 95.5 119.2 99.0 80.7 58.1
F.Cash Flow Data
305
Abbott Laboratories (Pakistan) Ltd.
Opp. Radio Pakistan Transmission Centre, Hyderabad Road, Landhi, Karachi.
Mr. Munir A. Shaikh(Chairman) The Royal Bank of Scotland Ltd. M/s. Yousuf Adil Saleem & Co.
Mr. Asif Jooma(Chief Executive) Bank of Tokyo - Mitsubishi Ltd.
Mr. Angelo Kondes(Director) Citibank N.A.
Mr. Kamran Y. Mirza(Director) Deutsche Bank AG
Mr. Thomas C. Freyman(Director) MCB Bank Ltd.
Mr. Shamim Ahmed Khan(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Sadi Syed(Director) HSBC Bank Middle East Ltd.
Date of Annual General Meeting 15th March , 2010 Face Value Rs. 10.00
Year Ending : 30th November , 2009 Market Price as on 30/11/2009 Rs. 96.49

Pharma products
BOC Pakistan Ltd,

West Wharf, Dockyard Road, Karachi-74000.
Mr. Munnawar Hamid OBE(Chairman) Standard Chartered Bank ( Pakistan) Ltd. KPMG Taseer Hadi & Co.
Syed Ayaz Bokhari(Chief Executive) Citibank N.A.
Mr. Shamim Ahmed Khan(Director) Deutsche Bank Ag
Mr. Lee Bon Hian(Director) MCB Bank Ltd.
Mr. Sanjiv Lamba(Director) National Bank Of Pakistan
Mr. Ashley David Mills(Director) NIB Bank Ltd.
Mr. Sanaullah Qureshi(Director) HSBC Bank Middle East Ltd.
Date of Annual General Meeting 22nd April , 2010 Face Value Rs. 10.00

Oxygen/Nitrogen Cubic meters (Ths.) 52,248 41,647
Hydrogen Cubic meters (Ths.) 3,434 1,746
Dissolved acetylen Cubic meters (Ths.) 836 109
306
Bawany Air Products Ltd.
Khasra No. 52/53 R.C.D. Highway, Mouza Pathara, Tehsil Hub, Distt. Lasbella, Balochistan
Mr. Hanif Y. Bawany(Chairman / C.E.O.) RBS Bank Ltd. M/S M. Yousuf Adil Saleem & Co.
Mr. Danish Amin(Director) MCB Bank Ltd.
Mr. Muhammad Ashraf(Director) United Bank Ltd.
Ms. Momiza Kapadia(Director)
Mr. Vali Mohammad M. Yahya(Director)
Mr. Wazir Ahmed Jogezai(Director)
Mr. Zakaria A. Ghaffar(Director)

Oxygen Th. Cubic Meters 4,233 3,345
Nitrogen Th. Cubic Meters 252 118
Dissolved acetylen Th. Cubic Meters 144 7
Berger Paints Pakistan Ltd.

D-31 South Avenue, S.I.T.E., Karachi-75700.
Mr. Sikander Dada(Chairman) Citibank N.A. M/s. A.F.Ferguson & Co.
Dr. Mahmood Ahmad(Chief Executive) The Royal Bank of Scotland
Mr. Muhammad Naseem(Director) Habib Metropolitan Bank Limted
Mr. C. H. Clover(Director) Habib Bank Ltd.
Mr. Maqbool H. H. Rahimtoola(Director) JS Bank Ltd.
Mr. Ilyas Sharif(Director) MCB Bank Ltd.
Mr. Hamid Masood Sohail(Director) United Bank Limited

Paints Liters in thousand Indeterminable 33,312
307
Biafo Industries Ltd.
203-204, 2nd Floor, Muhammad Gulistan Khan House, 82-East, Fazal-e-Haq Road, Blue Area, Islamabad.
Mr. M. Afzal Khan(Chairman) RBS Bank Ltd. KPMG Taseer Hadi & Co.
Khawaja Amanullah Askari(Chief Executive) Bank Of Khyber
Maj. Gen. (Retd.) S. Z. M. Askree(Director) Bank Al-Falah Ltd.
Ms. Shirin Safdar(Director) Habib Metropolitan Bank Ltd.
Mr. S.M.Sibtain(Director) National Bank Of Pakistan
Dr. M. Humayun Khan(Director) Allied Bank Of Pakistan
Mr. Zafar Khan(Director) Standard Chartered Bank ( Pakistan) Ltd.

Tovex water gell and powder explosives M. Tons 6,000 4,075
Detonator-plain No. (thousands) 8,000 4,468
Detonator-electric No. (thousands) 450 275
Buxly Paints Ltd.

Plot No. X - 3, Manghopir Road, S.I.T.E, Karachi-75700.
Mr. Mohammad Naseem(Chairman) NIB Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Shamshad Ali(Chief Executive) Habib Metropolitan Bank Ltd.
Mr.Shaikh Ajaz Majid(Director) Habib Bank Ltd.
Mr. Bashir Ahmed(Director) MCB Bank Ltd.
Mr. Salman Tarik Kurashi(Director) National Bank Of Pakistan
Mr. Saeed Mohammad Shaikh(Director) Bank Al Falah Ltd.
Mr. Sheikh Asim Rafiq (NIT)(Director)
Date of Annual General Meeting 18th February , 2010 Face Value Rs. 10.00

Paints Liters Indeterminable 1,740,982
308
Clariant Pakistan Ltd.
1-A/1, Sector-20, Korangi Industrial Area, Korangi, Karachi.
Mr. Mujtaba Rahim(Chairman / C.E.O.) RBS Bank Ltd. M/S A. F. Ferguson & Co.
Mr. M. Veqar Arif(Director) Citibank N.A.
Mr. Shamshad Ahmad(Director) HSBC Bank Middle East Ltd.
Dr. S. Mubarik Ali(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Peter Lindner(Director) Habib Bank Ltd.
Mr. Andreas Walde(Director) National Bank Of Pakistan
Mr. Walter Kindler(Director) Meezan Bank Ltd.

Multi-product Metric tons indeterminable 47,588
Colgate-Palmolive (Pakistan) Ltd.

Lakson Square Building No.2, Sarwar Shaheed Road, Karachi-74200.
Mr. Iqbal Ali Lakhani(Chairman) RBS Bank Ltd. M/S A. F. Fergusan & Co.
Mr. Zulfiqar Ali Lakhani(Chief Executive) Habib Bank Ltd.
Mr. Amin Mohammed Lakhani(Director) MCB Bank Ltd.
Mr. A. Aziz Ebrahim(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Peter Justin Skala(Director)
Mr. Peter John Graylin(Director)
Mr. Tasleemuddin Ahmed Batlay(Director)

Multiple consumer goods M. Tons 123,500 117,005
309
Data Agro Ltd.
3-A, Race View, Jail Road, Lahore
Mr. Faaiz Rahim Khan(Chief Executive) Albaraka Islamic Investment Bank B.S.C (E.C) M/s. Rafaqat Mansha Mohsin Dossani Masoom &
Mr. Asif Rahim Khan(Director) Habib Bank Ltd.
Mr. Muhammad Ayub Khan(Director) MCB Bank Ltd.
Mr. Hamid Jamshed(Director) NIB Bank Ltd.
Mr. Sohail Ahmad Khan(Director) The Bank Of Punjab
Mr. Umar Sadik(Director) Allied Bank Ltd.
Mrs. Badar Hussain(Director)

Seed processing M. Tons 18,250 3,199
Dawood Hercules Chemicals Ltd.

35-A, Shahrah-e-Abdul Hameed Bin Baadees (Empress Road), Lahore.
Mr. Aleem Ahmed Dani(Director) Allied Bank Limited KPMG Taseer Hadi & Co.
Mr. Hussain Dawood(Chairman) Bank Al-Habib Ltd.
Mr. Shahzada Dawood(Chief Executive) Emirates Global Islamic bank
Mr. Isar Ahmed(Director) MCB Bank Ltd.
Mr. Abdul Ghafoor Gohar(Director) Habib Bank Ltd.
Mr. Abdul Samad Dawood(Director) Habib Metropolitan Bank Limted
Mr. Khawaja Amanullah(Director) United Bank Limited

Urea Fertilizer M. Tons 445,500 513,315
310
Descon Chemicals Ltd.(Nimir Resins Ltd.)
DESCON World Head Quater, 18 KM Ferozepur Road, Lahore-53000.
Mr. A. Razak Dawood(Chairman) Bank Al-Habib Ltd. M/s. Hussain Chaudhry & Co.
Mr. Taimoor Dawood(Chief Executive) Habib Bank Ltd.
Mr. Muhammad Sadiq(Director)
Mr. Zafar Mahmood(Director)
Syed Zamanat Abbas(Director)
Mr. Sheikh Azhar Ali(Director)
Mr. Faisal Dawood(Director)
Preference Shares(%) 0 Investment Yield%

Alkyd, Polyvinyl & Acrylic M. Tons Indeterminable 8,326
Descon Oxychem Ltd.

Descon Headquaters, 18 Km Ferozpur Road, Lahore-53000.
Mr. Abdur Razzak Dawood(Chairman) Allied Bank Ltd. M/s. A.F.Ferguson & Co.
Mr.Taimur Dawood(Chief Executive) Bank Al Habib Ltd.
Mr. Muhammad Sadiq(Director) Habib Metropolitan Bank Ltd.
Shaikh Azhar Ali(Director) Habib Bank Ltd.
Mr. Faisal Dawood(Director)
Syed Zamanat Abbas(Director)
Mr. Salman Zakaria(Director)

Packing Material Number 630,000 317,910
Chemicals especially hydrogen peroxide M.Tons 8,750 5,139
311
Dynea Pakistan Ltd.
1st Floor, House of Habib Siddiquesons Tower, 3-Jinnah Coooperative Housing Society, Block 7/8, Shahrah-e-Faisal, Karachi.
Mr. Per Haga(Chairman) Citi Bank N. A. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Shabbir Abbas(Chief Executive) NIB Bank Ltd.
Mr. Alireza M. Alladin(Director) United Bank Limited
Mr. Chew Teck Liong(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Doneld John Jenkin(Director) Habib Metropolitan Bank Limted
Mr. Farooq Hassan(Director) Habib Bank Ltd.
Mr. Rafiq M. Habib(Director)

Urea/Melamine formaldehyde M. Tons 34,000 31,762
Formaldehyde M. Tons 39,000 31,262
Aminoplast compound M. Tons 10,000 8294
Engro Corporation Limited (Engro Cheml Pakistan Ltd.)

7th & 8th Floor, The Harbor Front Building, HC # 3, Marine Drive, Block-4, Clifton, Karachi.
Mr. Hussain Dawood(Chairman) Allied Bank Limited M/s. A.F.Ferguson & Co.
Mr. Asad Umar(President / C.E.O.) Bank Al-Habib Ltd.
Mr. Asif Qadir(Director) Bank Al-Falah
Mr. Arshad Nasar(Director) Habib Bank Ltd.
Mr. Isar Ahmed(Director) Arif Habib Bank Ltd.
Mr. Shabbir Hashmi(Director) Askari Commercial Bank Ltd.
Mr. Khalid Mansoor(Director) Atlas Bank Ltd.

Urea M. Tons 975,000 952,024
NPK M. Tons 160,000 91,821
PVC Resin M. Tons 150,000 115,620
312
Engro Polymer & Chemicals Ltd.
1st Floor, Bahria Complex-1, 24 M.T.Khan Road, Karachi.
Mr. Asad Umar(Chairman) Allied Bank Ltd. M/s. A. F. Ferguson & Co.
Asif Qadir(Chief Executive) Askari Commercial Bank Ltd.
Mr. Isar Ahmed(Director) Bank Al-Falah Ltd.
Mr. Shahzada Dawood(Director) Bank Al Habib Ltd.
Mr. Masaharu Domichi(Director) Dubai Islamic Bank
Mr. Takeshi Hagiwara(Director) Samba Bank Ltd.
Mr. Shabbir Hashmi(Director) Faysal Bank Ltd.

PVC Resin M.Tons 150,000 115,620
Caustic Soda M.Tons 106,000 38,739
Fauji Fertilizer Bin Qasim Ltd

73-Harley Street, Rawalpindi
Lt. Gen.(Retd.) Hamid Rab Nawaz(Chairman) MCB Bank Ltd. KPMG Taseer Hadi & Co.
Lt. Gen.(Retd.) Anis A. Abbasi(M.D. / C.E.O.) Habib Bank Ltd.
Lt. Gen. (Retd.) Malik Arif Hayat(Director) Faysal Bank Ltd.
Brig. (Retd/) Kawaod Rasjod Dar(Director) Askari Commercial Bank Ltd.
Mr. Qaiser Javed(Director)
Dr. Nadeem Inayat(Director)
Brig. (Retd.) Liaqat Ali(Director)

Urea Metric tons 551,100 627,079
DAP Metric tons 600,000 540,096
313
Fauji Fertilizer Company Ltd.
93-Harley Street, Rawalpindi Cantt., Rawalpindi.
Lt. Gen. (Retd.) Hamid Rab Nawaz(Chairman) Habib Bank Ltd. M/s. KPMG Tasir Hadi & Co.
Lt. Gen. (Retd.) Malik Arif Hayat(M.D. / C.E.O.) MCB Bank Ltd.
Brig. (Retd.) Arif Rasul Qureshi(Director) National Bank Of Pakistan
Maj. Gen. (Retd.) Muhammad Tahir(Director)
Brig. (Retd.) Rahat Khan(Director)
Mr. Jorgen Madsen(Director)
Mr. Istaqbal Mehdi(Director)

DAP M. Tons 600 540
Urea M. Tons 2,599 3,091
Ferozsons Laboratories Ltd.

Plot No.197-A, The Mall, Rawalpindi.
Mrs. Akhtar Khalid Waheed(Chairperson / CEO. Standard Chartered Bank ( Pakistan) Ltd. KPMG Taseer Hadi & Co.
Mr. Osman Khalid Waheed(President) Bank Alfalah Ltd.
Mr. Omar Khalid Waheed(G.M.) Habib Bank Ltd.
Mr. Farooq Mazhar(Director) Standard Charterd Bank Ltd.
Mr. Dost Mohammad Khan Sherpao(Director)
Mr. M .M. Isphani(Director)
Mr. Nihal A. Cassim(Director)

Pharmaceutical cannot be determined
314
Glaxosmithkline (Pakistan) Ltd.
35-Dockyard Road, West Wharf, Karachi.
Mr. M. Salman Burney(Chairman / C.E.O.) Citibank N.A. M/s. A. F. Fergusan & Co.
Dr. Muzaffar Iqbal(Director) The Royal Bank of Scotland Ltd.
Mr. Javed Ahmedjee(Director) Habib Bank Ltd.
Mr. Rafique Dawood(Director) HSBC Bank Middle East Limited
Mr. Shahid Mustafa Qureshi(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Tariq Iqbal Khan(Director)
Dr. Iffat Yazdani(Director)

Medicines and pharma products
Highnoon Laboratories Ltd.

17.5 Kilometer, Multan Road, Lahore-53700.
Mr. Jawaid Tariq Khan(Chairman) National Bank of Pakistan. KPMG Taseer Hadi & Co.
Mr. Anees Ahmad Khan(Vice Chairman) JS Bank Ltd.
Mr. Tausif Ahmad Khan(Vice Chairman) Habib Bank Ltd.
Mr. Aslam Hafiz(Chief Executive) United Bank Ltd.
Mr. Ghulam Hussain Khan(Director) Faysal Bank Ltd.
Mian Muhammad Ashraf(Director) Allied Bank Ltd.
Mrs. Nosheen Riaz Khan(Director) MCB Bank Limited

pharma products
315
ICI Pakistan Ltd.
ICI House, 5-West Wharf, Karachi-74000
Mr. M. J. Jaffer(Chairman) Oman International Bank KPMG Taseer Hadi & Co.
Mr. Waqar A. Malik(Chief Executive) Askari Commercial Bank Ltd.
Mr. M. Niwaz Tiwana(Director) Citibank N.A.
Mr. Ali A Aga(Director) Deutsche Bank A.G.
Mr. Derek W.Welch(Director) Muslim Commercial Bank Ltd.
Mr. Bart Kaster(Director) National Bank Of Pakistan
Mr. James R Rees(Director) United Bank Limited

Polyster M. Tons 122,000 123,642
Soda Ash M. Tons 350,000 269,500
Paints M. Tons - 33,741
Ittehad Chemicals Ltd.

Plot No.39 Empress Road, P.O.Box No. 1414, Lahore
Mr. Mohd.Siddique Khatari(Chairman / C.E.O.) Askari Commercial Bank Limited M/S BOD Ebrahim & Co.
Ms. Noor-ul-Huda(Director) Allied Bank Of Pakistan
Mr. Abdul Sattar Khatri(Director) Metropolitan Bank Limited
Mr. Mansoor Ahmed Khatri(Director) MCB Bank Ltd.
Mr. Fawad Yousuf(Director) The Bank Of Punjab
Mr.Abdul Ghafoor Khatri(Director) Faysal Bank Limited
Ms. Farhana Sattar(Director) United Bank Limited

Caustic soda M. Tons 143,550 95,448
Liquid chlorine M. Tons 13,220 7,758
Hydrocloric acid M. Tons 150,000 133,680
316
Leiner Pak Gelatine Ltd.
17/G Gulberg-2, GPO Box No.415, Lahore.
Khwaja Imtiaz Ahmed(M.D. / C.E.O.) Bank al-Habib M/S M. Almas & Co.
Khwaja Ahmed Hussan(Director) United Bank Ltd.
Khwaja Ibrar Ahmed(Director)
Khwaja Ijaz Ahmed(Director)
Khwaja Muhammad Kamran(Director)
Khwaja Umer Riaz(Director)
Mr. Iqbal Dossa(Director)

DI-Calcium Phosphate M. Tons 15,000 4,713
Gelatine (blended/unblended) M. Tons 3,000 1,043
Lotte Pakistan PTA Ltd.(Pakistan PTA Ltd.)

EZ/1/P-4 Eastern Industrial Zone, Port Qasim, Karachi.
Mr. Nak Yong Lee(Chairman) Askari Commerial Bank Ltd. KPMG Taseer Hadi & Co.
Mr. M. Asif Saad(Chief Executive) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Oh Hun Im(Director) Citibank N.A.
Mr. Muhammad Qasim Khan(Director) Deutsche Bank AG
Mr. Byung Yun Lim(Director) MCB Bank Ltd.
Mr. Tajammul Hussain Bokharee(Director) HSBC Bank Middle East Limited
Mrs. Aliya Yusuf(Director) National Bank Of Pakistan

Polyester staple fibres M. Tons 506,750 506,750
317
Nimir Industrial Chemicals Ltd.
Plot No.51-N, Industrial Area, Gulberg-II, Lahore
Mr. Louis Tucker Link(Chairman) Bank Of Punjab M/S Ford Rhodes Sidat Hyder & Co.
Mr. Zafar Mahmood(Chief Executive) Samba Bank Limited
Mr. Imran Afzal(Director) Silk Bank Ltd.
Mr. Sh. Amar Hameed(Director) MCB Bank Ltd.
Mr. Abdul Jalil Jamil(Director)
Mr. Umer Iqbal(Director)
Mr. Saeed-uz-Zaman(Director)

Oleo Chemicals M. Tons 24,000 14,013
Caustic Soda M. Tons 31,350 29,421
Otsuka Pakistan Ltd.

Plot No.30-B, Sindh Muslim Co-operative Housing Society, Karachi-74400.
Mr. Minoru Okamoto(Chairman) Allied Bank Of Pakistan Ltd. M/S A. F. Ferguson & Co.
Mr. Abid Hussain(Chief Executive) Habib Bank Ltd.
Mr. Takaharu Imai(Director) MCB Bank Ltd.
Mr. Suseno Surjoseputro(Director) Bank Alflah Limited
Mr. Nazimuddin Feroz(Director) The Bank Of Tokyo Mitsubishi Ltd.
Mr. Kiyoshi Fukai(Director) National Bank of Pakistan.
Mr. Mehtabuddin Feroz(Director)

I.V. Solution Million bottles 31.5 31.4
Plastic Ampoules Million bottles 8.0 6.9
318
Pakistan Gum & Chemicals Ltd.
B-19/A Irshad Qadri Road, S.I.T.E., Karachi-75700.
Mr. Mohammad Moonis(Chairman) Askari Commercial Bank Ltd. M/s. Fords Rhodes Sidat Hyder & Co.
Mr. Shoaib Ahmad(Vice Chairman) Habib Bank Ltd.
Mr. Mohammad Ali Hanafi(Director) MCB Bank Ltd.
Mr. Ozair Ahmed Hanafi(Director) Habib Metorpolitan Bank Ltd.
Mr. Zaeem Ahmed Hanafi(Director) My Bank Ltd.
Mr. Mohammad Aslam Hanafi(Director)
Mr. Tariq Mohamed Amin(Director)

Seed processing M. Tons 35,000 11,312
Pakistan PVC Ltd.

Shaffiabad, Gharo, District Thatta, Sindh
Mr. Reyaz Shaffi(Chairman / C.E.O.) MCB Bank Ltd. M/s. Mushtaq Ahmed & Co.
Mr. Ijaz Ahmad Khan(Director) The Royal Bank of Scotland Ltd.
Mr. Adeel Shaffi(Director) United Bank Ltd.
Mr. Asif Shaffi(Director)
Mr. Arif Shaffi(Director)
Mr. Mohammad Iqbal(Director)
Mr. Adnan Shaffi(Director)

PVC pipes and fittings Thousand Meter 7,752 128
319
Sanofi-Aventis Pakistan Ltd. (Aventis Pharma)
Plot No.23, Sector No.22, Korangi Industrial Area, Karachi
Syed Babar Ali(Chairman) RBS Bank Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Tariq Wajid(Managing Director) Deutsche Bank A.G.
Mr. Tariq Iqbal Khan(Director) Habib Bank Ltd.
Mr. J.L.Grunwald(Director) Citibank N. A.
Mr. M.Z.Moin Mohajir(Director) Standard Chartered Bank
Pir Ali Gohar(Director) MCB Bank Ltd.
Syed Hyder Ali(Director)

Pharma products
Sardar Chemical Industries Ltd.

No.29-B, Road No.1, Gadoon Amazai Industrial Estate, Topi, Ganduf Road, Swabi. Khyber Paktoonkhua
Sardar Mahmood Sadiq(Chief Executive) Allied Bank Of Pakistan Ltd. M/s. Aslam Malik & Co.
Mr. Fayyaz Ahmed Khan(Director) Askari Commercial Bank Ltd.
Mr. Iftikhar Ahmed Khan(Director)
Mr. Sardar Ayaz Sadiq(Director)
Mrs. Mona Mahmood(Director)
Mrs. Reema Ayaz(Director)
Mr. Shahid Aziz(Director)

Chemicals M. Tons 660 321
320
Searle Pakistan Ltd.
1st Floor, NIC Building, Abbasi Shaheed Road, Off: Shahrah-e-Faisal, Karachi.
Mr. Rashid Abdulla(Chairman / C.E.O.) Citi Bank N. A. M/s. Anjum Asim Shahid Rahman & Co.
Mr. S. Nadeem Ahmed(Managing Director) Habib Metropolitan Bank Ltd.
Mr. Munis Abdulla(Director) The Royal Bank of Scotland Ltd.
Mr. Shuja Malik(Director) Habib Bank Ltd.
Mr. Khalid Malik(Director) National Bank Of Pakistan
Mr. Asad Abdulla(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Abdul Hamid Dagia(Director)

Liquid bottles 17,600 32,899
Tablets Numbers 680,000 1,075,430
Capsules Numbers 55,000 59,020
Shaffi Chemical Industries Ltd.

Plot # 2,Gadoon Amazai Industrial Estate, Swabi, Khyber Pakhtunkhua
Mr. Waqar A.Shaffi(Chairman / C.E.O.) Allied Bank Of Pakistan Ltd. M/s. M.A.Tabussum & Co.
Mr. Mohib Hussain(Director) Silk Bank Ltd.
Mr. Muhammad Sameer(Director) Habib Metropolitan Bank Limted
Mr. Zahoor Ahmed(Director) Askari Commercial Bank Ltd.
Mr. Shariq Iftikhar(Director) Standard Chartered Bank Ltd.
Mr. Sohail Malik(Director)
Mr. Hashim Aslam Butt(Director)

DOP Plant Tons 17,500 0
LITH Ditex Binder Plant & Super Bond Tons 2,060 1,874
321
Sitara Chemical Industries Ltd.
601-602, Business Centre, Mumtaz Hasan Road,Karachi.
Haji Bashir Ahmed(Chairman) Albaraka Islamic Bank M/S M. Yousuf Adil Saleem & Co.
Mr. Mohammad Adrees(Chief Executive) Allied Bank Of Pakistan Ltd.
Mr. Imran Ghafoor(Director) Askari Bank Ltd.
Mr. Javed Iqbal(Director) The Bank Of Punjab
Mr. Mohammad Anis(Director) MCB Bank Ltd.
Mr. Rashid Zahir (SPAICL)(Director) Faysal Bank Ltd.
Mr. Haseeb Ahmed(Director) Habib Bank Ltd.

Caustic Soda metric tons 178,200 146,601
Sodium Hypochlorite metric tons 66,000 37,793
Bleaching Powder metric tons 7,500 4,401
Sitara Peroxide Limited

601-602, Business Centre, Mumtaz Hasan Road, Karachi.
Mr. Haji Bashir Ahmed(Chairman) Askari Bank Ltd. M/s. M. Yousuf Adil Saleem & Co.
Mr. Imran Ghafoor(Chief Executive) Bank Al Falah Ltd.
Mr. Javed Iqbal(Director) Faysal Bank Ltd.
Mr. Muhammad Adrees(Director) Habib Bank Ltd.
Mr. Muhammad Anis(Director) Meezan Bank Ltd.
Mrs. Noureen Javed(Director) Natioanl Bank of Paksitan
Mrs. Sharmeen Imran(Director) Silk Bank Ltd.

Hydrogen Peroxide Tons 30,000 18,045
322
Wah Nobel Chemicals Ltd.
Wah Noble Chemicals, G. T. Road, Wah Cantt.
Lt. Gen. Shujaat Zamir Dar(Chairman) Bank Al Habib Ltd. M/s. Anjum Asim Shahid Rahman
Mr. Torbjorn Saxmo(Vice Chairman) MCB Bank Ltd.
Syed Naseem Raza(Director) Allied Bank Ltd.
Mr. Shahid Aziz(Director)
Mr. Feroze Khan Malik(Director)
Mr. Khalid Pervaiz(Director)
Mr. Riaz Ahmad(Director)

Formaldehyde and formaline solvant M. Tons 30,000 21,646
Urea / phenol formaldehyde M. Tons 19,000 23,435
Wyeth Pakistan Ltd.

S-33, Hawksbay Road, S.I.T.E. (GPO Box # 167), Karachi.
Mr. Iqbal Bengali(Chairman / C.E.O.) The Royal Bank of Scotland Ltd. M/s. Taser Hadi & Co.
Khawaja Bakhtiar Ahmed(Director) Citibank N.A.
Mr. Abdul Majeed(Director)
Mr. Badaruddin F. Vellani(Director)
Mr. Abdul Naseer(Director)
Mr. Maqbool H. H. Rahimtoola (NIT)(Director)
()
Year Ending : 31st December , 2009 Market Price as on 31/12/2009 Rs. 1,290.60
Percentage Dividend rate : Highest Price in 2009 Rs. 2,470.00
Ordinary Shares (%) 50 Lowest Price in 2009 Rs. 1,090.41
Ordinary Shares Bonus (%) Average Price in 2009 Rs. 1,776.94

Pharma products
323
Engineering Sector
Engineering Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 23270.8 31278.4 41639.6 54799.5 61777.0 63453.0
5.Debentures 296.0 221.9 147.8 73.7 0.0 0.0
B.Liquidity:
1.Liquid Assets: 27015.7 38801.4 35606.3 35216.6 25713.5 27967.6
(i)Cash 23007.7 32123.0 26322.6 25300.4 16518.0 22940.2
(ii)Investments 4008.0 6678.4 9283.7 9916.2 9195.5 5027.4
3.Inventories 23183.8 33998.7 43528.7 41152.2 43704.5 42028.0
C.Fixed Assets:
4.Total assets (B4+C2) 88131.6 118663.4 141231.0 153949.9 166217.0 181206.2
D.Operation:
1.Gross sales 139637.5 203924.0 255490.8 271839.2 282886.6 244227.9
(i)Local sales 138285.1 201377.7 253376.7 269228.0 278905.1 218786.9
(ii)Export sales 1352.4 2546.3 2114.1 2611.2 3981.5 25441.0
2.Cost of Sales 122465.6 182892.8 227154.2 242814.3 256452.9 219856.7
3.Gross profit 17171.9 21031.2 28336.6 29024.9 26433.7 24371.2
8.Tax provision 4025.6 4368.4 6988.2 6127.0 4517.8 4245.8
F.Cash Flow Data
326
Engineering

250
200
150
%
100
50
0
2004 2005 2006 2007 2008 2009

Ados Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -7.5 4.8 9.8 4.0 11.8 64.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 26.9 15.9 34.8 263.8 130.4 242.9
(i)Cash 26.9 15.9 34.8 263.8 114.4 226.4
(ii)Investments 0.0 0.0 0.0 0.0 16.0 16.5
3.Inventories 3.3 3.3 3.3 3.3 128.5 3.3
C.Fixed Assets:
4.Total assets (B4+C2) 114.4 116.4 264.6 382.9 321.1 547.2
D.Operation:
1.Gross sales 81.2 298.4 359.7 790.6 337.0 795.8
(i)Local sales 81.2 298.4 359.7 790.6 337.0 795.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 66.1 262.9 323.9 702.6 284.8 647.2
3.Gross profit 15.1 35.5 35.8 88.0 52.2 148.6
8.Tax provision 0.4 1.5 1.8 6.2 6.0 21.8
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) -300.0 600.0 35.7 84.2 -45.7 510.5
328
Agriauto Industries Limited (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 219.5 466.7 720.3 920.4 1117.3 1298.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 137.8 227.1 388.2 475.2 602.6 588.1
(i)Cash 52.8 27.0 35.3 49.3 163.4 225.7
(ii)Investments 85.0 200.1 352.9 425.9 439.2 362.4
3.Inventories 151.5 188.9 312.5 310.1 285.0 448.7
9.Net liquid assets (B1-B5) -89.6 119.9 212.3 317.0 371.0 361.3
C.Fixed Assets:
4.Total assets (B4+C2) 567.1 693.8 1028.0 1207.2 1471.6 1671.6
D.Operation:
1.Gross sales 1281.8 1455.7 2029.0 2279.6 2484.9 2413.3
(i)Local sales 1281.8 1455.7 2029.0 2279.6 2484.9 2413.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 938.2 1095.6 1496.4 1743.0 1973.0 1928.1
3.Gross profit 343.6 360.1 532.6 536.6 511.9 485.2
8.Tax provision 101.0 63.0 156.9 156.0 143.5 115.9
F.Cash Flow Data
329
Al-Ghazi Tractors Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2469.6 2909.1 3335.2 3636.5 4213.1 5205.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3000.2 5768.6 5668.9 5403.4 3795.8 3667.5
(i)Cash 2050.2 5017.3 5142.1 4384.6 3349.0 3522.5
(ii)Investments 950.0 751.3 526.8 1018.8 446.8 145.0
3.Inventories 648.0 740.1 731.0 708.7 1931.4 1253.7
C.Fixed Assets:
4.Total assets (B4+C2) 4180.2 7245.4 7278.3 6827.3 7086.1 7380.7
D.Operation:
1.Gross sales 6836.4 7851.6 9148.3 9209.5 10241.9 15764.8
(i)Local sales 6836.4 7851.6 9148.3 9209.5 10241.9 15764.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 5237.9 6249.1 7513.2 7556.0 8664.1 13119.0
3.Gross profit 1598.5 1602.5 1635.1 1653.5 1577.8 2645.8
8.Tax provision 520.0 576.6 645.0 663.0 562.0 911.0
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 6.3 0.3 16.8 0.2 -12.1 57.9
330
Atlas Battery Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 164.0 193.6 222.6 275.2 510.2 635.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 26.4 32.6 30.6 37.5 49.3 28.9
(i)Cash 26.4 32.6 30.3 37.5 49.3 28.9
(ii)Investments 0.0 0.0 0.3 0.0 0.0 0.0
3.Inventories 103.2 211.7 218.0 306.2 410.7 434.6
C.Fixed Assets:
4.Total assets (B4+C2) 375.5 505.4 562.9 755.3 1206.8 1300.2
D.Operation:
1.Gross sales 793.7 1230.5 1564.0 2065.4 3376.6 3156.8
(i)Local sales 751.0 1218.4 1556.3 2063.2 3376.6 3153.6
(ii)Export sales 42.7 12.1 7.7 2.2 0.0 3.2
2.Cost of Sales 620.2 1072.9 1375.0 1773.8 2989.7 2626.7
3.Gross profit 173.5 157.6 189.0 291.6 386.9 530.1
8.Tax provision 26.8 9.7 6.1 26.5 59.5 74.7
F.Cash Flow Data
331
Atlas Engineering Ltd. (Allwin Engineering Industries Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 174.4 140.3 146.2 431.7 450.9 394.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 29.1 6.9 13.6 10.1 6.8 5.1
(i)Cash 29.1 6.9 13.6 10.1 6.8 5.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 69.2 117.7 207.8 154.6 197.5 120.6
C.Fixed Assets:
4.Total assets (B4+C2) 496.6 714.4 903.0 1136.8 1208.4 1150.3
D.Operation:
1.Gross sales 582.4 796.2 1114.7 1087.8 1411.7 1135.2
(i)Local sales 582.4 796.2 1114.7 1087.8 1411.7 1135.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 490.9 673.6 976.5 1010.1 1269.9 1071.0
3.Gross profit 91.5 122.6 138.2 77.7 141.8 64.2
8.Tax provision 2.5 3.5 4.7 4.6 0.0 0.0
F.Cash Flow Data
332
Atlas Honda Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1308.1 1836.8 2278.7 2540.2 2916.4 2831.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 751.5 1842.6 1026.5 1784.6 1895.4 1092.2
(i)Cash 227.1 1432.4 682.1 919.6 504.1 636.4
(ii)Investments 524.4 410.2 344.4 865.0 1391.3 455.8
3.Inventories 1285.0 1567.5 1937.7 1580.9 1862.1 1792.0
C.Fixed Assets:
4.Total assets (B4+C2) 4110.4 6072.5 7601.1 8012.3 8689.8 7468.4
D.Operation:
1.Gross sales 11460.6 16855.2 20547.2 19601.1 24301.7 13747.8
(i)Local sales 11460.6 16855.2 20547.2 19601.1 24301.7 13747.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 10226.4 15511.0 18917.5 18037.3 22745.2 12782.2
3.Gross profit 1234.2 1344.2 1629.7 1563.8 1556.5 965.6
8.Tax provision 192.0 383.8 138.0 98.0 298.0 104.4
F.Cash Flow Data
333
Baluchistan Wheels Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 181.7 284.6 395.8 490.5 569.8 589.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 96.2 35.4 100.1 71.5 129.8 30.8
(i)Cash 86.3 26.7 97.7 69.0 52.2 30.5
(ii)Investments 9.9 8.7 2.4 2.5 77.6 0.3
3.Inventories 112.4 232.1 319.4 318.3 275.4 325.8
C.Fixed Assets:
4.Total assets (B4+C2) 542.5 589.7 828.6 966.6 985.2 954.1
D.Operation:
1.Gross sales 615.0 908.1 1332.2 1344.0 1434.8 1095.9
(i)Local sales 610.7 898.3 1324.0 1323.1 1402.8 1050.4
(ii)Export sales 4.3 9.8 8.2 20.9 32.0 45.5
2.Cost of Sales 492.3 722.0 1028.2 1057.5 1168.7 963.7
3.Gross profit 122.7 186.1 304.0 286.5 266.1 132.2
8.Tax provision 22.6 53.3 75.3 26.3 54.3 7.3
F.Cash Flow Data
334
Bela Automotives Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 60.7 119.0 123.2 124.6 128.9 129.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.3 2.3 2.0 1.3 1.1 0.6
(i)Cash 1.3 2.3 2.0 1.3 1.1 0.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 20.8 21.1 23.8 26.5 30.3 50.0
C.Fixed Assets:
4.Total assets (B4+C2) 240.9 308.5 315.8 314.1 323.1 331.9
D.Operation:
1.Gross sales 61.5 81.1 94.4 64.6 84.5 41.7
(i)Local sales 61.5 81.1 94.4 64.6 84.5 41.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 49.3 66.3 83.8 55.7 71.3 32.6
3.Gross profit 12.2 14.8 10.6 8.9 13.2 9.1
8.Tax provision 0.3 0.4 0.4 0.3 0.4 0.0
F.Cash Flow Data
335
Bolan Castings Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 208.7 203.3 282.9 270.1 274.2 304.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 31.4 31.4 53.9 37.2 6.1 23.8
(i)Cash 22.9 22.9 37.2 18.2 6.1 15.7
(ii)Investments 8.5 8.5 16.7 19.0 0.0 8.1
3.Inventories 100.4 100.4 125.3 206.7 157.7 149.5
C.Fixed Assets:
4.Total assets (B4+C2) 333.1 333.1 557.9 715.6 807.0 892.7
D.Operation:
1.Gross sales 636.7 636.7 977.1 1079.7 1310.9 1604.6
(i)Local sales 636.7 636.7 977.1 1079.7 1307.3 1604.6
(ii)Export sales 0.0 0.0 0.0 0.0 3.6 0.0
2.Cost of Sales 531.4 531.4 874.8 991.1 1196.9 1440.4
3.Gross profit 105.3 105.3 102.3 88.6 114.0 164.2
8.Tax provision 29.7 29.7 25.5 4.4 5.7 2.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 39.3 -5.4 200.8 -49.9 -24.2 12.4
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 66.2 - 23.7 -71.1 -119.0 408.9
336
Crescent Steel & Allied Products Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1295.6 1585.2 1686.6 2733.3 2480.1 1980.4
5.Debentures 296.0 221.9 147.8 73.7 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1241.2 1522.9 1328.4 2337.5 2745.3 1823.8
(i)Cash 18.0 53.1 15.8 37.0 8.2 4.1
(ii)Investments 1223.2 1469.8 1312.6 2300.5 2737.1 1819.7
3.Inventories 240.5 194.3 468.5 633.5 606.1 616.4
C.Fixed Assets:
4.Total assets (B4+C2) 2225.4 2532.0 3713.7 4695.6 4846.1 4108.8
D.Operation:
1.Gross sales 1543.9 3080.2 1859.3 3184.8 4638.2 3310.9
(i)Local sales 1543.9 3080.2 1859.3 3184.8 4638.2 3310.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1374.4 2708.3 1718.9 2674.3 3741.8 2597.2
3.Gross profit 169.5 371.9 140.4 510.5 896.4 713.7
8.Tax provision 18.5 88.9 4.1 4.1 164.0 172.8
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -11.2 99.5 -39.6 71.3 45.6 -28.6
337
Dadex Eternit Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 332.1 385.4 361.2 384.6 411.2 385.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 374.0 65.6 7.6 11.2 147.7 17.1
(i)Cash 368.7 59.8 2.3 9.9 46.6 0.9
(ii)Investments 5.3 5.8 5.3 1.3 101.1 16.2
3.Inventories 361.2 586.8 815.8 734.9 776.3 875.2
C.Fixed Assets:
4.Total assets (B4+C2) 1183.2 1231.7 1492.2 1430.5 1694.6 1564.6
D.Operation:
1.Gross sales 1141.5 1527.6 1550.5 1966.1 2332.9 2189.9
(i)Local sales 1121.1 1500.5 1526.2 1940.7 2306.6 2132.5
(ii)Export sales 20.4 27.1 24.3 25.4 26.3 57.4
2.Cost of Sales 896.0 1223.8 1255.7 1570.4 1859.9 1675.3
3.Gross profit 245.5 303.8 294.8 395.7 473.0 514.6
8.Tax provision 43.0 26.2 13.0 11.3 10.0 7.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -29.9 33.8 42.3 100.0 18.3 -15.1
1.Dividend cover ratio [(D7 - D8) as % of D9] 83.0 185.8 -8.0 119.5 162.4 0.0
338
Dewan Automotive Engineering Ltd. (Allied Motors Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -96.7 -146.5 -252.2 -528.1 -716.6 -1297.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.8 0.9 31.0 87.7 41.7 108.9
(i)Cash 3.8 0.9 31.0 47.7 41.7 6.0
(ii)Investments 0.0 0.0 0.0 40.0 0.0 102.9
3.Inventories 62.8 81.9 212.7 414.8 283.6 242.6
C.Fixed Assets:
4.Total assets (B4+C2) 181.0 221.4 453.2 1912.4 1960.8 1164.5
D.Operation:
1.Gross sales 32.2 14.6 131.1 682.7 628.7 284.0
(i)Local sales 32.2 14.6 131.1 682.7 628.7 284.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 48.7 30.9 184.0 746.6 682.2 294.1
3.Gross profit -16.5 -16.3 -52.9 -63.9 -53.5 -10.1
8.Tax provision 0.0 0.1 0.7 3.2 2.8 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 33.2 -163.3 -93.1 -45.7 -149.0 -535.4
339
Dewan Farooque Motors Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 270.5 539.0 871.3 913.0 289.3 -1361.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 152.0 146.1 853.7 862.6 90.6 224.5
(i)Cash 152.0 146.1 148.2 87.9 90.6 101.7
(ii)Investments 0.0 0.0 705.5 774.7 0.0 122.8
3.Inventories 1930.8 1837.3 2519.2 1567.6 1234.2 746.8
C.Fixed Assets:
4.Total assets (B4+C2) 5102.9 6312.1 7704.6 6887.1 5852.6 4497.0
D.Operation:
1.Gross sales 7685.8 10294.2 10636.1 8576.8 6327.6 1557.0
(i)Local sales 7685.8 10294.2 10636.1 8576.8 6327.6 1557.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 6980.0 9241.2 9535.6 7710.3 6174.6 2382.1
3.Gross profit 705.8 1053.0 1100.5 866.5 153.0 -825.1
8.Tax provision 32.9 43.9 117.4 36.2 27.3 0.0
F.Cash Flow Data
340
Dost Steels Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - - - -52.9
5.Debentures - - - - - 0.0
B.Liquidity:
(i)Cash - - - - - 0.2
3.Inventories - - - - - 0.0
C.Fixed Assets:
4.Total assets (B4+C2) - - - - - 2048.5
D.Operation:
1.Gross sales - - - - - 0.0
(i)Local sales - - - - - 0.0
2.Cost of Sales - - - - - 0.0
3.Gross profit - - - - - 0.0
F.Cash Flow Data
3.Net profit margin (D7 as % of D1) - - - - - 0.0
341
Exide Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 294.2 348.0 617.0 695.1 824.9 671.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 101.4 79.5 90.2 93.4 121.2 234.9
(i)Cash 75.9 54.0 64.7 60.9 121.0 234.7
(ii)Investments 25.5 25.5 25.5 32.5 0.2 0.2
3.Inventories 232.0 353.7 410.5 556.1 1014.5 859.9
C.Fixed Assets:
4.Total assets (B4+C2) 757.7 864.9 1153.1 1303.2 2039.6 2036.6
D.Operation:
1.Gross sales 1491.1 1888.2 1853.6 2807.8 3022.3 5630.4
(i)Local sales 1491.1 1888.2 1853.6 2807.8 3022.3 5630.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1245.4 1619.2 1591.3 2442.2 2661.0 5009.8
3.Gross profit 245.7 269.0 262.3 365.6 361.3 620.6
8.Tax provision 37.8 21.2 41.4 52.5 41.8 64.3
F.Cash Flow Data
342
General Tyre & Rubber Co. Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 587.2 804.1 848.6 640.7 624.4 514.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 46.0 82.1 79.0 78.4 100.6 146.3
(i)Cash 44.8 79.6 79.0 78.4 100.6 146.3
(ii)Investments 1.2 2.5 0.0 0.0 0.0 0.0
3.Inventories 655.2 880.2 1012.7 907.2 1051.8 725.7
C.Fixed Assets:
4.Total assets (B4+C2) 1970.9 2702.7 3393.0 3516.0 4009.1 3966.2
D.Operation:
1.Gross sales 3266.7 3697.7 4323.1 4605.7 5422.3 5349.5
(i)Local sales 3266.7 3697.7 4323.1 4605.7 5422.3 5349.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2640.1 3114.2 3801.6 4137.8 4912.0 4747.5
3.Gross profit 626.6 583.5 521.5 467.9 510.3 602.0
8.Tax provision 151.0 59.6 57.5 30.3 23.4 2.9
F.Cash Flow Data
343
Ghandhara Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -485.8 -290.8 1064.4 1063.2 1082.0 943.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 343.8 95.6 355.5 129.9 114.1 113.8
(i)Cash 5.3 2.2 262.4 128.5 22.9 21.5
(ii)Investments 338.5 93.4 93.1 1.4 91.2 92.3
3.Inventories 335.3 370.5 695.7 649.3 468.1 373.9
C.Fixed Assets:
4.Total assets (B4+C2) 1106.5 783.0 2222.9 2286.4 2142.2 1923.5
D.Operation:
1.Gross sales 644.1 1166.8 1714.7 1921.9 1870.0 1313.8
(i)Local sales 641.1 1166.8 1714.7 1921.9 1870.0 1313.8
(ii)Export sales 3.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 573.5 1078.0 1489.0 1616.7 1727.0 1184.5
3.Gross profit 70.6 88.8 225.7 305.2 143.0 129.3
8.Tax provision 3.2 5.1 34.3 78.6 13.1 0.0
2.Retention in business (D7-D8-D9) 47.2 -9.1 504.2 122.6 16.3 -140.4
F.Cash Flow Data
3.Net profit margin (D7 as % of D1) 7.8 -0.3 32.6 10.5 1.6 -10.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 7.2 -1.4 79.9 5.8 0.8 -6.6
344
Ghandhara Nissan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 53.1 339.6 407.7 569.9 1015.8 1252.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 70.2 41.2 36.6 72.2 514.5 315.2
(i)Cash 69.1 41.2 36.6 49.0 207.0 36.3
(ii)Investments 1.1 0.0 0.0 23.2 307.5 278.9
3.Inventories 483.1 1323.1 1346.0 772.8 789.7 1053.7
C.Fixed Assets:
4.Total assets (B4+C2) 1715.7 2658.9 2860.4 2398.2 3101.1 3391.9
D.Operation:
1.Gross sales 1187.0 4072.5 5185.3 3019.1 3924.6 2054.0
(i)Local sales 1187.0 4072.5 5185.3 3019.1 3924.6 2054.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1056.5 3690.9 4565.1 2522.4 3402.8 2048.6
3.Gross profit 130.5 381.6 620.2 496.7 521.8 5.4
8.Tax provision 6.2 37.5 134.0 105.5 101.7 0.0
F.Cash Flow Data
345
Ghani Automobiles Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - -32.0 -32.0 -71.4 -70.3 -112.4
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 47.6 8.0 22.9 6.1 8.6
(i)Cash - 47.6 8.0 22.9 6.1 8.6
(ii)Investments - 0.0 0.0 0.0 0.0 0.0
3.Inventories - 1.2 7.5 31.3 80.2 68.4
7.Net Current Assets(B4-B5) - 53.5 35.3 93.7 89.0 43.9
9.Net liquid assets (B1-B5) - 45.9 -13.6 7.0 -233.4 -234.8
C.Fixed Assets:
4.Total assets (B4+C2) - 69.7 89.6 144.5 383.6 341.7
D.Operation:
1.Gross sales - 18.5 51.0 149.5 283.3 230.0
(i)Local sales - 18.5 51.0 149.5 283.3 230.0
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 17.5 50.5 137.4 249.4 226.4
3.Gross profit - 1.0 0.5 12.1 33.9 3.6
5.Operating profit - -0.6 1.2 -34.4 8.9 -24.4
7.Net profit before tax (D5-D6) - -0.6 1.2 -38.8 2.4 -42.3
8.Tax provision - 1.3 0.4 0.7 1.2 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 0.0 60.6 15.5 -45.7
2.Retention in business (D7-D8-D9) - -1.9 0.8 -39.5 1.2 -42.3
3.Finance from outside the company (E1-E2) - - -0.8 100.1 14.3 -3.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - -1.2 1.8 -37.2 5.0 -37.8
2.Depreciation for the year plus changes in capital employed (C3+E1) - - 1.0 62.9 19.3 -41.2
5.Return on assets (D7 as % of C4) - -0.9 1.3 -26.9 0.6 -12.4
10.Financial expenses as % of operating profit (D6 as % of D5) - - 0.0 -12.8 73.0 -73.4
15.Return on Equity (D7 as % of A3) - -0.9 1.8 -30.2 1.9 -48.3
3.Net profit margin (D7 as % of D1) - -3.2 2.4 -26.0 0.8 -18.4
4.Earning per share before tax (D7/No. of ordinary shares) - -0.1 0.1 -1.9 0.1 -2.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - -0.2 0.1 -2.0 0.1 -2.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -110.0 -200.0 -2000.0 -105.3 -2200.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 175.7 193.1 89.5 -18.8
346
Hinopak Motors Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1222.7 1346.5 1588.7 2046.0 1816.0 1816.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 525.4 58.0 118.3 260.9 70.2 70.2
(i)Cash 475.4 58.0 118.3 260.9 70.2 70.2
(ii)Investments 50.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1779.4 1790.7 2381.3 2533.2 2398.6 2398.6
C.Fixed Assets:
4.Total assets (B4+C2) 3414.3 3164.6 4141.9 4908.3 5001.5 5001.5
D.Operation:
1.Gross sales 6337.4 7395.2 7200.4 8159.2 12630.7 12151.0
(i)Local sales 6337.4 7395.2 7200.4 8159.2 12630.7 12151.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 5567.4 6718.1 6365.8 6771.6 11379.5 10899.8
3.Gross profit 770.0 677.1 834.6 1387.6 1251.2 1251.2
8.Tax provision 159.0 131.8 194.5 333.0 68.0 68.0
F.Cash Flow Data
347
Honda Atlas Cars (Pakistan) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1478.5 1658.5 2252.0 1660.8 1737.1 1204.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3515.7 6632.4 1504.1 219.9 231.9 20.5
(i)Cash 3514.9 5874.0 360.2 219.9 231.9 20.5
(ii)Investments 0.8 758.4 1143.9 0.0 0.0 0.0
3.Inventories 1708.5 3159.2 4169.1 2704.9 1612.7 2954.1
C.Fixed Assets:
4.Total assets (B4+C2) 6965.5 11776.9 9141.1 8239.2 6752.2 9746.3
D.Operation:
1.Gross sales 9610.4 17038.9 30236.1 20106.3 17430.8 14149.6
(i)Local sales 9610.4 17038.9 30236.1 20106.3 17430.8 14149.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 8854.4 16755.9 29068.6 20006.4 16803.3 13973.1
3.Gross profit 756.0 283.0 1167.5 99.9 627.5 176.5
8.Tax provision 226.2 85.5 420.7 87.8 75.8 12.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 93.3 -3.0 56.6 -57.3 1.8 -136.0
348
Huffaz Seamless Pipe Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 59.8 123.0 178.5 885.8 917.5 1372.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.0 5.8 47.2 18.9 61.7 12.2
(i)Cash 7.0 5.8 47.2 18.9 61.7 12.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 150.4 305.5 366.9 344.9 172.4 779.3
C.Fixed Assets:
4.Total assets (B4+C2) 547.3 785.8 1027.1 1776.7 1773.4 2884.7
D.Operation:
1.Gross sales 413.1 687.1 1119.2 946.7 1184.8 1323.3
(i)Local sales 412.4 687.1 1118.8 945.4 1184.8 1320.0
(ii)Export sales 0.7 0.0 0.4 1.3 0.0 3.3
2.Cost of Sales 355.0 577.2 924.6 792.1 972.2 1026.8
3.Gross profit 58.1 109.9 194.6 154.6 212.6 296.5
8.Tax provision 2.1 3.1 34.6 11.6 48.0 30.8
F.Cash Flow Data
349
Indus Motor Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2638.7 3718.1 5465.8 7254.4 8650.3 9507.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6962.0 6720.0 7416.2 8543.3 4328.6 9731.1
(i)Cash 6962.0 6720.0 7416.2 8543.3 4328.6 9731.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 2537.2 3168.9 3959.3 2860.0 2637.6 4088.9
9.Net liquid assets (B1-B5) -1162.1 -947.9 -2144.5 922.2 16.8 -657.5
C.Fixed Assets:
4.Total assets (B4+C2) 11556.4 12184.0 15816.4 15661.6 13748.1 20681.6
D.Operation:
1.Gross sales 23193.7 32717.7 41787.6 46384.5 49425.3 37864.6
(i)Local sales 23193.7 32717.7 41787.6 46384.5 49425.3 37864.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 20500.0 30011.5 37640.0 41943.9 45576.8 35540.4
3.Gross profit 2693.7 2706.2 4147.6 4440.6 3848.5 2324.2
8.Tax provision 860.5 812.1 1352.8 1389.8 939.7 705.9
F.Cash Flow Data
350
International Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1191.5 1281.9 1566.8 1767.2 2946.0 3021.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 70.6 2.2 429.0 1362.9 28.1 1235.5
(i)Cash 70.6 2.2 429.0 3.9 28.1 1235.5
(ii)Investments 0.0 0.0 0.0 1359.0 0.0 0.0
3.Inventories 2116.5 2583.8 2025.9 3309.9 4591.6 2229.0
C.Fixed Assets:
4.Total assets (B4+C2) 4243.8 4932.1 5242.4 8594.7 10615.8 11161.0
D.Operation:
1.Gross sales 4987.5 8089.4 8727.0 11020.2 13761.5 12319.4
(i)Local sales 4050.0 6507.0 7186.4 9063.0 10742.0 9412.4
(ii)Export sales 937.5 1582.4 1540.6 1957.2 3019.5 2907.0
2.Cost of Sales 4197.8 7220.3 7486.5 9597.2 11974.1 11152.3
3.Gross profit 789.7 869.1 1240.5 1423.0 1787.4 1167.1
8.Tax provision 153.0 101.0 182.0 166.0 140.1 114.0
F.Cash Flow Data
351
Johnson & Philips (Pakistan) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -53.3 -33.7 -31.6 -13.3 114.5 84.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 40.9 3.9 3.8 19.3 23.2 3.9
(i)Cash 1.1 3.9 3.8 10.3 14.2 3.9
(ii)Investments 39.8 0.0 0.0 9.0 9.0 0.0
3.Inventories 37.4 38.1 40.9 43.8 58.7 51.4
7.Net Current Assets(B4-B5) -82.7 -79.2 -96.4 11.4 28.3 -2.0
C.Fixed Assets:
4.Total assets (B4+C2) 197.1 199.6 236.5 314.1 426.1 339.3
D.Operation:
1.Gross sales 62.6 162.7 233.3 377.4 249.8 133.7
(i)Local sales 62.6 162.7 233.3 377.4 249.8 133.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 66.1 131.5 207.5 309.3 193.8 128.5
3.Gross profit -3.5 31.2 25.8 68.1 56.0 5.2
8.Tax provision 0.3 0.8 1.2 1.9 1.3 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 120.6 -0.4 -9.4 109.4 112.4 -40.8
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -3.7 473.6 -81.9 26.7 27.5 63.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -25.2 159.9 43.4 61.8 -33.8 -46.5
352
KSB Pumps Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 206.5 277.5 347.5 470.1 556.8 635.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 135.4 122.5 138.9 267.0 77.7 234.2
(i)Cash 135.4 119.6 136.1 267.0 75.4 232.1
(ii)Investments 0.0 2.9 2.8 0.0 2.3 2.1
3.Inventories 164.7 200.3 267.1 244.9 348.2 370.2
C.Fixed Assets:
4.Total assets (B4+C2) 669.5 845.7 830.0 1082.0 1218.1 1588.8
D.Operation:
1.Gross sales 924.0 1297.9 1441.9 1708.3 1911.9 2024.2
(i)Local sales 851.1 1196.3 1305.6 1537.4 1784.3 1815.2
(ii)Export sales 72.9 101.6 136.3 170.9 127.6 209.0
2.Cost of Sales 721.6 959.8 1016.9 1242.1 1404.3 1530.2
3.Gross profit 202.4 338.1 425.0 466.2 507.6 494.0
8.Tax provision 24.7 51.0 57.5 62.0 10.8 60.0
F.Cash Flow Data
353
Metropolitan Steel Corporation Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -840.1 -782.1 -764.7 991.6 985.1 985.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.0 24.4 1.1 3.2 1.0 1.0
(i)Cash 1.0 24.4 0.8 2.6 0.7 0.7
(ii)Investments 0.0 0.0 0.3 0.6 0.3 0.3
3.Inventories 80.4 134.2 158.9 159.1 224.3 224.3
C.Fixed Assets:
4.Total assets (B4+C2) 952.7 1182.9 1230.2 3058.4 3324.2 3324.2
D.Operation:
1.Gross sales 567.2 1565.7 1474.2 1528.2 1455.8 1455.8
(i)Local sales 567.2 1563.0 1474.2 1528.2 1391.3 1391.3
(ii)Export sales 0.0 2.7 0.0 0.0 64.5 64.5
2.Cost of Sales 562.3 1443.8 1393.4 1478.6 1411.2 1411.2
3.Gross profit 4.9 121.9 80.8 49.6 44.6 44.6
8.Tax provision 2.4 6.8 6.4 7.0 6.7 6.7
F.Cash Flow Data
354
Millat Tractors Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1449.0 1904.4 2306.3 2492.7 2834.5 3106.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 814.6 2880.9 4101.0 2902.8 3669.8 2455.7
(i)Cash 649.7 297.8 263.1 122.1 249.4 995.4
(ii)Investments 164.9 2583.1 3837.9 2780.7 3420.4 1460.3
3.Inventories 1402.5 2314.5 2283.9 1840.1 1636.2 2077.0
C.Fixed Assets:
4.Total assets (B4+C2) 3552.3 6322.8 7445.2 6247.9 7250.9 6752.5
D.Operation:
1.Gross sales 7036.2 8427.7 9876.7 11142.5 11432.5 15910.7
(i)Local sales 6918.7 8282.4 9787.6 11092.7 11279.0 15883.2
(ii)Export sales 117.5 145.3 89.1 49.8 153.5 27.5
2.Cost of Sales 6188.9 7504.7 8709.3 10002.3 9928.5 13501.5
3.Gross profit 847.3 923.0 1167.4 1140.2 1504.0 2409.2
8.Tax provision 210.5 240.0 342.0 200.0 292.0 551.7
F.Cash Flow Data
355
Pak Elektron Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1955.0 1398.6 1329.3 2114.3 3572.7 1927.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 232.1 396.0 460.1 549.1 487.4 214.9
(i)Cash 117.9 335.3 448.9 536.6 434.5 193.1
(ii)Investments 114.2 60.7 11.2 12.5 52.9 21.8
3.Inventories 1309.1 1956.6 2576.0 2507.7 3571.2 3258.6
7.Net Current Assets(B4-B5) -363.9 330.8 -167.7 937.8 1408.7 -2699.3
C.Fixed Assets:
4.Total assets (B4+C2) 6483.2 7761.9 9505.2 10965.2 15719.6 18486.6
D.Operation:
1.Gross sales 6078.2 8075.3 11042.2 13077.7 12652.0 14621.6
(i)Local sales 5930.0 7947.3 10885.9 12939.7 12561.9 14498.1
(ii)Export sales 148.2 128.0 156.3 138.0 90.1 123.5
2.Cost of Sales 5016.1 6586.0 8994.5 10547.8 9801.9 11283.8
3.Gross profit 1062.1 1489.3 2047.7 2529.9 2850.1 3337.8
8.Tax provision 47.7 51.7 50.0 59.1 39.9 66.9
F.Cash Flow Data
356
Pak Suzuki Motor Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 4971.0 7220.5 10145.6 12767.2 12945.9 13154.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6795.4 9913.9 8324.2 5627.4 2503.5 3550.0
(i)Cash 6694.0 9647.0 8043.6 5484.1 2499.1 3545.6
(ii)Investments 101.4 266.9 280.6 143.3 4.4 4.4
3.Inventories 3765.3 4968.1 9232.7 9184.4 7732.5 6879.7
C.Fixed Assets:
4.Total assets (B4+C2) 13435.0 18624.4 21817.5 20814.7 16572.2 17307.9
D.Operation:
1.Gross sales 28670.9 41381.3 47187.9 60747.8 48240.7 26234.1
(i)Local sales 28670.9 41381.3 47187.9 60650.3 48240.7 26234.1
(ii)Export sales 0.0 0.0 0.0 97.5 0.0 0.0
2.Cost of Sales 26254.3 37808.4 41627.2 55987.6 47650.1 25664.8
3.Gross profit 2416.6 3572.9 5560.7 4760.2 590.6 569.3
8.Tax provision 772.0 950.0 1871.0 1465.0 330.0 172.6
F.Cash Flow Data
357
Pakistan Cables Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 172.8 798.5 937.1 1005.4 1143.4 1187.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 25.9 35.6 285.4 55.3 90.3 157.6
(i)Cash 16.8 26.5 248.0 7.4 23.7 40.2
(ii)Investments 9.1 9.1 37.4 47.9 66.6 117.4
3.Inventories 499.3 723.9 984.4 1133.4 1018.6 657.9
C.Fixed Assets:
4.Total assets (B4+C2) 833.0 1812.7 2718.3 2979.1 3345.9 3007.7
D.Operation:
1.Gross sales 1287.2 2333.9 3492.2 4810.8 4442.6 3352.3
(i)Local sales 1287.2 2333.9 3492.2 4810.8 4442.6 3352.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1102.9 2014.4 2997.1 4196.6 4072.7 2820.0
3.Gross profit 184.3 319.5 495.1 614.2 369.9 532.3
8.Tax provision 32.0 44.2 49.2 68.3 19.7 1.7
F.Cash Flow Data
358
Pakistan Engineering Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -6.7 73.1 182.6 414.5 487.0 3690.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 15.4 45.8 93.8 156.4 56.0 28.3
(i)Cash 15.4 45.8 32.9 104.9 24.5 28.3
(ii)Investments 0.0 0.0 60.9 51.5 31.5 0.0
3.Inventories 152.8 362.7 214.9 211.7 268.8 445.5
C.Fixed Assets:
4.Total assets (B4+C2) 2261.4 2541.7 2473.1 2632.0 2722.1 6018.0
D.Operation:
1.Gross sales 457.4 980.0 959.9 1123.2 1184.5 1361.6
(i)Local sales 457.4 980.0 959.9 1123.2 1184.5 1361.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 396.4 715.9 742.4 900.0 954.3 1035.3
3.Gross profit 61.0 264.1 217.5 223.2 230.2 326.3
8.Tax provision 2.3 4.3 4.2 4.9 59.0 17.7
F.Cash Flow Data
359
Pakistan Telephone Cables Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -26.8 -0.6 52.3 42.3 49.0 -54.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.3 1.5 9.8 2.8 4.6 1.3
(i)Cash 7.3 1.5 9.8 2.8 4.6 1.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 79.1 150.3 135.3 188.8 212.2 210.6
C.Fixed Assets:
4.Total assets (B4+C2) 356.2 643.0 656.9 657.0 653.0 580.6
D.Operation:
1.Gross sales 506.9 786.5 1043.7 772.7 908.8 125.2
(i)Local sales 506.9 786.5 1043.7 772.7 908.8 125.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 451.0 737.2 1013.3 720.0 840.2 165.3
3.Gross profit 55.9 49.3 30.4 52.7 68.6 -40.1
7.Net profit before tax (D5-D6) 9.8 5.3 -12.8 -5.9 11.7 -113.6
8.Tax provision 3.9 3.4 4.6 4.6 3.9 0.0
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 2.8 0.8 -1.9 -0.9 1.8 -19.6
15.Return on Equity (D7 as % of A3) 5.3 2.5 -4.9 -2.3 4.5 -73.0
3.Net profit margin (D7 as % of D1) 1.9 0.7 -1.2 -0.8 1.3 -90.7
4.Earning per share before tax (D7/No. of ordinary shares) 0.5 0.3 -0.6 -0.3 0.6 -5.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.3 0.1 -0.8 -0.5 0.4 -5.4
360
Sazgar Engineering Works Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -11.5 15.4 48.2 88.9 209.0 206.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.1 0.6 0.8 18.4 12.0 19.8
(i)Cash 3.1 0.6 0.8 18.4 12.0 19.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 41.3 59.8 79.3 125.2 193.3 194.8
C.Fixed Assets:
4.Total assets (B4+C2) 136.4 195.4 252.6 367.6 679.1 605.6
D.Operation:
1.Gross sales 252.1 332.4 439.3 724.2 1943.7 952.5
(i)Local sales 252.1 332.4 439.3 724.2 1943.7 952.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 208.7 286.7 361.1 602.1 1640.8 848.7
3.Gross profit 43.4 45.7 78.2 122.1 302.9 103.8
8.Tax provision 7.4 7.2 14.9 23.2 67.6 3.6
F.Cash Flow Data
361
Siemens (Pakistan) Engineering Co. Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2034.5 2356.8 2620.1 5262.2 6199.7 6822.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1701.5 1743.8 2267.3 3311.9 3407.2 1403.1
(i)Cash 1348.7 1743.8 1767.3 3311.9 3407.2 1403.1
(ii)Investments 352.8 0.0 500.0 0.0 0.0 0.0
3.Inventories 0.0 2337.5 2285.2 3166.7 4588.7 4367.4
C.Fixed Assets:
4.Total assets (B4+C2) 4947.2 7834.2 12021.9 17574.2 24769.3 24252.4
D.Operation:
1.Gross sales 7573.0 13374.5 20998.2 22238.9 27236.5 36149.4
(i)Local sales 7573.0 12856.8 20866.6 22133.5 26792.2 14202.4
(ii)Export sales 0.0 517.7 131.6 105.4 444.3 21947.0
2.Cost of Sales 6320.9 11609.9 18546.4 19113.8 23222.6 32165.0
3.Gross profit 1252.1 1764.6 2451.8 3125.1 4013.9 3984.4
8.Tax provision 321.7 444.0 926.0 913.9 885.1 938.6
F.Cash Flow Data
362
Singer Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 100.5 111.9 121.5 139.6 158.6 153.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 54.8 68.4 79.5 106.3 129.1 142.7
(i)Cash 47.5 61.3 72.5 99.4 129.1 142.7
(ii)Investments 7.3 7.1 7.0 6.9 0.0 0.0
3.Inventories 162.0 229.4 305.5 393.3 502.0 456.6
C.Fixed Assets:
4.Total assets (B4+C2) 840.2 1041.3 1235.8 1558.0 1852.3 1864.8
D.Operation:
1.Gross sales 979.5 1197.2 1569.0 1744.2 2349.8 1999.5
(i)Local sales 979.5 1197.2 1569.0 1744.2 2349.8 1977.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 21.9
2.Cost of Sales 798.8 982.3 1288.9 1385.8 1901.4 1553.8
3.Gross profit 180.7 214.9 280.1 358.4 448.4 445.7
8.Tax provision 14.5 15.8 11.2 17.6 11.4 9.8
F.Cash Flow Data
363
The Climax Engineering Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 153.3 142.9 213.0 418.8 391.9 366.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.1 11.9 23.9 1.4 6.8 12.3
(i)Cash 2.1 11.9 23.9 1.4 6.8 12.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 217.8 243.0 246.9 251.9 250.9 230.3
C.Fixed Assets:
4.Total assets (B4+C2) 565.6 581.7 595.5 738.2 735.6 737.2
D.Operation:
1.Gross sales 188.0 262.7 224.1 232.8 226.2 300.5
(i)Local sales 188.0 262.7 224.1 232.8 226.2 300.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 179.3 246.0 210.1 219.7 217.6 274.6
3.Gross profit 8.7 16.7 14.0 13.1 8.6 25.9
8.Tax provision 0.9 1.2 1.1 1.2 1.1 0.0
3.Finance from outside the company (E1-E2) 368.5 -41.4 19.6 192.7 13.0 -3.6
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 0.4 - 28.5 6.4 149.8 85.9
364
Transmission Engineering Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -80.3 -76.2 -81.6 -112.0 -120.1 -113.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) 8.3 17.0 19.2 -9.1 -15.2 49.7
B.Liquidity:
1.Liquid Assets: 0.9 13.9 16.0 0.7 0.2 0.3
(i)Cash 0.9 0.3 0.2 0.7 0.2 0.3
(ii)Investments 0.0 13.6 15.8 0.0 0.0 0.0
3.Inventories 10.4 5.8 6.6 6.8 8.8 13.2
C.Fixed Assets:
4.Total assets (B4+C2) 92.4 104.6 104.0 97.3 103.7 125.5
D.Operation:
1.Gross sales 85.5 98.1 115.6 106.6 97.5 123.6
(i)Local sales 73.8 98.1 115.6 106.6 97.5 92.3
(ii)Export sales 11.7 0.0 0.0 0.0 0.0 31.3
2.Cost of Sales 70.2 82.9 103.4 105.6 98.4 105.0
3.Gross profit 15.3 15.2 12.2 1.0 -0.9 18.6
5.Operating profit 9.1 11.2 3.8 -20.9 -13.3 16.7
8.Tax provision 0.4 0.4 0.5 0.6 0.6 0.6
F.Cash Flow Data
365
Ados Pakistan Ltd.
House No.88, Khayaban-e-Iqbal, F-8/2, Islamabad.
Mr. Zia Akbar Ansari(Chief Executive) Citi Bank N. A. M/s. Anjum Asim Shahid Rehman & Co.
Mr. Jamal Akbar Ansari(Director) Dubai Islamic Bank (Pakistan) Ltd.
Shaikh Usman Ahmed(Director) NIB Bank Ltd.
Mrs. Uzma Jamal(Director) Bank Al-Falah Ltd.
Mrs. Shoobarana Zia(Director) Bank Islami Pakistan Ltd.
Mrs. Razia Akbar Ansari(Director)
Ms. Sabina Ansari(Director)

Engineering goods
Agriauto Industries Limited

5th Floor, House of Habib, 3 JCHS, Main Sharah-e-Faisal, Karachi.
Mr. R. D. Minwalla(Chairman) Habib Bank Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Qazi Ebadullah Khan(Chief Executive) National Bank Of Pakistan
Mr. Suhail P. Ahmed(Director) Faysal Bank Limited
Mr. Fahim Kapadia(Director) Askari Commercial Bank Ltd.
Mr. Tariq Saud Quddusi(Director) Meezan Bank Ltd.
Mr. Owaisul Mustafa(Director) Credit Agricole Indosuez
Mr. Syed Sikander Ahmed(Director)

Light tractors determined
366
Al-Ghazi Tractors Ltd.
11th Floor, NICL Building, Abbasi Shaheed Road, Off Shahrah-e-Faisal, Karachi-74400.
Mr. Charles Leonard hunt(Chairman) Askari Commerial Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Parvez Ali(M.D. / C.E.O.) Meezan Bank Ltd.
Mr. Franco Fusignani(Director) Bank Al Habib Ltd.
Mr. Kanwar Idris(Director) Habib Bank Ltd.
Mr. Mohammad Ali Qaiyum(Director) Faysal Bank Ltd.
Mr. Hadjas Youssef(Director) Hongkong & Shanghai Banking Corp.
Mr. Nisar Mahmood(Director)

Tractors Numbers 30,000 30,351
Atlas Battery Ltd.

D/181, Central Avenue, S.I.T.E., Karachi-75730.
Mr. Yusuf H. Shirazi(Chairman) Atlas Bank Ltd. M/s. Hameed Chaudhri & Co.
Mr. Talha Saad(Chief Executive) Habib Bank Ltd.
Mr. Javaid Anwar(Director) MCB Bank Ltd.
Mr. Aitzaz Shahbaz(Director) National Bank Of Pakistan
Mr. Hiroshi Tateiwa(Director) The Bank Of Tokyo-Mitsubishi Ltd.
Mr. Muhammad Atta Karim(Director) Bank Alflah Limited
Mr. Muhammad Iqbal(Director) Allied Bank Ltd.

Battery product
367
Atlas Engineering Ltd. (Allwin Engineering Industries Ltd.)
15th Mile, National Highway, Landhi, Karachi-75120.
Mr. Yusuf H. Shirazi(Chairman) Habib Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Mohammad Atta Karim(Director) MCB Bank Ltd.
Mr. H. Masood Sohail(Director) National Bank Of Pakistan
Mr. Sadaqat Ali(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Ali H. Shirazi(Director) Atlas Bank Ltd.
Mr. Jawaid Iqbal Ahmad(Director) Bank Alflah Limited
Mr. Sohail Wajahat H. Siddiqui(Director) Faysal Bank Ltd.

Automobile parts
Atlas Honda Ltd.

1-Mcleod Road, Lahore-54000.
Mr. Yusuf H. Shirazi(Chairman) Bank Al-Habib Ltd. M/S Hameed Chaudhri & Co.
Mr. Saqib H. Shirazi(Chief Executive) Atlas Bank Ltd.
Mr. Nurul Hoda(Director) Deutsche Bank A.G.
Mr. Sanaullah Qureshi(Director) United Bank Ltd.
Mr. Sherali Mundrawala(Director) Habib Bank Ltd.
Mr. Osamu Ishikawa(Director) MCB Bank Ltd.
Mr. Masahiro Takedagawa(Director) National Bank Of Pakistan
Date of Annual General Meeting 23rd June , 2009 Face Value Rs. 10.00

Multi types of products
368
Baluchistan Wheels Ltd.
Main RCD Highway, Hub Chowki, Distt. Lasbella, Baluchistan
Mr. Muhammad Siddique Misri(Chairman) Faysal Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Razak Haji Muhammad Bengali(Chief Execu Habib Bank Ltd.
Syed Haroon Rashid (NIT)(Director) National Bank Of Pakistan
Mr. Irfan Ahmed Qureshi(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Muhammad Javed(Director) Bank Al Falah Ltd.
Mr. Muhammad Irfan Ghani(Director)
Syed Zubair Ahmed (NIT)(Director)

Automative wheels Thousand units 850 600
Bela Automotives Ltd.

PLot No. 1 & 3, Mouza Pathara, Hub Chowki. Balochistan.
Mr. Abdul Mateen Allahwala(Chairman / C.E.O.) Bank Alflah Limited M/s. Kabani Saeed Kamran Patel & Co.
Mr. Anwar Iqbal(Director) Atlas Bank Ltd.
Mr. Imran Mateen(Director) Habib Bank Ltd.
Mr. Omer Mateen Allahwala(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mrs. Farnaz Anwar(Director) Allied Bank of Pakistan Ltd.
Mrs. Moniza Imran(Director) National Bank of Pakistan
Mrs. Nelofer Mateen(Director) MCB Bank Ltd.
Date of Annual General Meeting 31st December , 2009 Face Value Rs. 10.00

Automobile parts
369
Bolan Castings Ltd.
Main RCD Highway, Tehsil: Hub Chowki, District: Lasbella, Balochistan.
Mr. Sikandar M. Khan(Chairman) Habib Bank Ltd. M/s. Ford, Rhodes, Sidat Hyder & Co.
Mr. Shahid A. Hakim(Chief Executive) RBS Bank Ltd.
Mr. Latif Khalid Hashmi(Director) Bank Alfalah Ltd.
Mr. Sohail Bashir Rana(Director) MCB Bank Ltd.
Mr. Laeeq Uddin Ansari(Director) Dubai Islamic Bank
Mian Mohammad Saleem(Director) JS Bank Ltd.
Mr. Mujtaba Ahmed(Director)

Casting of steel and iron M. Tons 13,200 14,335
Crescent Steel & Allied Products Ltd.

BOP Tower,10-B, Block E-2, Main Boulevard, Gulberg-III, Lahore.
Mr. Mazhar Karim(Chairman) Standard Chartered Bank ( Pakistan) Ltd. M/s. Taseer Hadi & Co.
Mr. Ahsan M. Saleem(Chief Executive) Meezan Bank Ltd.
Mr. Javed Iqbal(Director) Allied Bank Ltd.
Mr. Muhammad Abdul Aleem(Director) MCB Bank Ltd.
Mr. Mohammad Anwar(Director) HSBC Bank Middle East Ltd.
Mr. Nasir Shafi(Director)
Mr. S. M. Ehtisamullah(Director)
Date of Annual General Meeting 31st August , 2009 Face Value Rs. 10.00

Steel pipe M.Tons 30,000 14,368
Coating outside surface of steel pipe Square meters 600,000 585,651
Cotton spindles M.Tons 16,000 15,201
370
Dadex Eternit Ltd.
Dadex House, 34-A/1, Block 6, PECHS, Shahrah-e-Faisal, Karachi-75400.
Mr. Abu Talib H.K. Dada(Chairman) Habib Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Maqbool H.H. Rahimtoola(Director) Habib Metropolitan Bank Limted
Mr. Zulfiqar Ali Lakhani(Director) HSBC Bank Middle East Limited
Mr. Samad Dada(Director) KASB Bank Ltd.
Mr. Jahangir Siddiqui(Director) MCB Bank Ltd.
Mr. Qazi Sajid Ali(Director) National Bank Of Pakistan
Mr. Shahzad M. Husain(Director) Oman International Bank S.A.O.G.

Different cc & uPVC pressure pipes,
polydex and polythylene pipes etc.
Dewan Automotive Engineering Ltd. (Allied Motors Ltd.)

Dewan Mohammad Yousuf Farooqui(Chairman / NIB Bank Ltd. M/s. Faruq Ali & Co.
Dewan Abdullah Ahmed(Managing Director) My Bank Ltd.
Dewan Abdul Rehman Farooqui(Director) The Bank Of Punjab
Dewan Asim Mushtaq Farooqui(Director) The Royal Bank of Scotland Ltd.
Mr. Haroon Iqbal(Director) KASB Bank Ltd.
Dewan Abdul Baqi Farooqui(Director) MCB Bank Ltd.
Mrs. Hina Yousuf Farooqui(Director) Habib Bank Ltd.

Tractors Numbers 6,000 10
Motorcycles Numbers 60,000 6,858
371
Dewan Farooque Motors Ltd.
7th Floor, Block-A, Finance & Trade Centre, Off. Shahrah-e-Faisal, Karachi.
Dewan Mohammad Yousuf Farooqui(Chairman / RBS Bank Ltd. M/S Feroz Sharif Tariq & Co.
Dewan Asim Mushtaq Farooqui(Director) Allied Bank Of Pakistan Ltd.
Dewan Abdullah Ahmed Swaleh Farooqui(Mana Askari Bank Ltd.
Mr. Haroon Iqbal(Director) Bank Alfalah Ltd.
Dewan Abdul Baqi Farooqui(Director) KASB Bank Ltd.
Mrs. Hina Yousuf(Director) Habib Bank Ltd.
Mr. Aziz-ul-Haque(Director) Meezan Bank Ltd.

Automobiles Numbers 10,000 2,323
Dost Steels Ltd.

Plot No. 222, Sector-39, Korangi Creek Industrial Area, Karachi.
Mr. Jamal Iftakhar(Chairman/ C.E.) M/s. Haroon Zakaria & Co.
Mr. Zahid Iftakhar(Director) Faysal Bank Ltd.
Mr. Faisal Zahid(Director) National Bank of Pakistan.
Mr. Bilal Jamal(Director) NIB Bank Ltd.
Mr. Hamza Raees(Director) Askari Commercial Bank Ltd.
Mr. Saad Zahid(Director) Bank Of Khyber
Mr. Mustafa Jamal(Director) The Royal Bank of Scotland

Determined - -
372
Exide Pakistan Ltd.
A-44, Hill Street, Off. Manghopir Road, S.I.T.E, Karachi-75700
Mr. Arif Hashwani(Chairman) Standard Chartered Bank ( Pakistan) Ltd. M/s. A. F. Ferguson & Co.
Mr. Arshad Shehzada(M.D. / C.E.O.) Askari Bank Ltd.
Mr. S. Haider Mehdi(Director) United Bank Ltd.
Mr. Hussain Hashwani(Director) Habib Bank Ltd.
Mr. Mohammad Asif(Director) Oman International Bank S.A.O.G.
Mr. S.M. Faiq(Director) MCB Bank Ltd.
Mr. Altaf Hashwani(Director) Citi Bank N. A.
Date of Annual General Meeting 30th June , 2009 Face Value Rs. 10.00
Year Ending : 31st March , 2009 Market Price as on 31/03/2009 Rs. 110.27

Chemicals for battery M. Tons 33,000 32,533
General Tyre & Rubber Co. Ltd.

H-23/2, Landhi Industrial Trading Estate, Landhi, Karachi.
Lt. Gen. (R) Ali Kuli Khan Khattak(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hameed Chaudhri & Co.
Mr. Muhammad Shahid Hussain(Chief Executive United Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Irfan Siddiqui(Director) Askari Commercial Bank Ltd.
Mr. Manzoor Ahmed(Director) MCB Bank Ltd.
Mr. Firasat Ali(Director) Meezan Bank Ltd.
Mr.Ahmed Kuli Khan Khattak(Director) Bank Al-Habib Ltd.
Mr. Mazhar Sharif(Director) Faysal Bank Limited

Automible tyre sets Number of units 1,726,063 1,329,839
373
Ghandhara Industries Ltd.
Plot No. F-3, Hub Chowki Road, S.I.T.E., P.O.Box No. 2706, Karachi.
Mr. Raza Kuli Khan Khattak(Chairman) Bank Al Habib Ltd. Faysal Bank Ltd.
Mr. Ahmad Kuli Khan Khattak(Chief Executive) Soneri Bank Ltd. M/S Hameed Chaudhri & Co.
Lt. Gen.(Retd.) Ali Kuli Khan Khattak(Director) NIB Bank Ltd.
Mr. Jamil Ahmed Shah(Director) The Bank of Tokyo - Mitsubishi UFJ, Ltd.
Dr. Parvez Hassan(Director) National Bank Of Pakistan
Ch. Sher Muhammad(Director) The Bank of Khyber
Mr. Mushtaq Ahmed Khan (FCA)(Director)

Heavy automative vehicles
Ghandhara Nissan Ltd.

Ghandhara House 109/2, Clifton, Karachi.
Mr. Raza Kuli Khan Khattak(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hameed Chaudhri & Co.
Lt. Gen. (Retd.) Ali Kuli Khan Khattak(President) Deutsche Bank AG M/s. Muniff Ziauddin & Co.
Mr. Ahmed Kuli Khan Khattak(Chief Executive) Askari Commercial Bank Ltd.
Ch. Sher Mohammad(Director) MCB Bank Ltd.
Mr. Jamil A. Shah(Director) The Bank Of Tokyo-Mitsubishi Ltd.
Mr. Ikramul Majeed Sehgal(Director) The Hong Kong & Shanghai Banking Corporation
Syed Haroon Rashid(Director) Bank Alflah Limited

Automobile assembling Units 6,000 1,221
374
Ghani Automobiles Industries Ltd.
50-L, Model Town, Lahore.
Mr. Imtiaz Ahmad Khan(Chairman) Allied Bank Ltd. Dawood Islamic Bank Ltd.
Mr. Anwaar Ahmed Khan(Dy. Chief Executive) Habib Bank Ltd. M/s. Hassan Farooq & Co.
Mrs. Reema Anwaar(Director) Albaraka Islamic Bank
Mr. Aftab Ahmed Khan(Director) Soneri Bank Ltd.
Mrs. Ayesha Aftab(Director) Meezan Bank Ltd.
Mr. Juniad Ghani(Director) Habib Metropolitan Bank Ltd.
Mr. Obaid Ghani(Director) Bank Al-Falah Ltd.

Motorcycles 25,000 7,028
Hinopak Motors Ltd.

Plot No. D-2, Manghopir Road (P.O.Box No.10714), S.I.T.E., Karachi
Mr. Kunwar Idris(Chairman) Allied Bank Of Pakistan Ltd. M/S A. F. Ferguson & Co.
Mr. Hideya Iijima(M.D. / C.E.O.) National Bank Of Pakistan
Mr. Takeshi Ito(Deputy M.D.) Habib Metorpolitan Bank Ltd.
Mr. Fasihul Karim Siddiqi(Director) The Bank Of Tokyo-Mitsubishi Ltd.
Mr. Shiniji Fujimoto(Director) Braclays Bank Ltd.
Mr. Hirofumi Wachi(Director) Bank Alflah Limited
Mr. Mohammad Irfan Shaikh(Director) Standard Chartered Bank ( Pakistan) Ltd.
Date of Annual General Meeting 29th May , 2009 Face Value Rs. 10.00

Chassis of automobiles Numbers 6,000 4,152
Bodies of automobiles Numbers 1,800 1,747
375
Honda Atlas Cars (Pakistan) Ltd.
1-Mcleod Road, Lahore
Mr. Yusuf H. Shirazi(Chairman) RBS Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Atsushi Yamazaki(President / C.E.O.) Askari Bank Ltd.
Mr. Aamir H. Shirazi(Director) Citibank N.A.
Mr. Fumihiko Ike(Director) Deutsche Bank A.G.
Mr. Jawaid Iqbal Ahmed(Director) Habib Bank Ltd.
Mr. Masahiro Takedagawa(Director) MCB Bank Ltd.
Mr. Yukimitsu Miyagi(Director) National Bank Of Pakistan
Date of Annual General Meeting 15th June , 2009 Face Value Rs. 10.00

Motor Vehicles Number 50,000 12,780
Huffaz Seamless Pipe Industries Ltd.

207-210, 2nd Floor, Mashriq Centre, Block-14,Gulshan-e-Iqbal, Karachi-75300
Mr. Arshad Ahmed(Chairman) Silk Bank Ltd. M/s. S.M. Suhail & Co.
Hafiz Abdul Majid(Chief Executive) Royal Bank of Scotland
Hafiz Abdul Haseeb(Director) MCB Bank Ltd.
Hafiz Abdul Sami(Director) Meezan Bank Ltd.
Hafiz Abdul Waheed(Director) Soneri Bank Ltd.
Hafiz Abdul Aleem(Director) Citi Bank Ltd.
Mrs. Fareeda Majid(Director)

Seamless tubular products & shafting. M. Tons 62,000 13,446
Machinery & machinery components M. Tons 3,500 453
376
Indus Motor Company Ltd.
Plot No. NWZ/1/P-1, Port Qasim Industrial Estate, Bin Qasim, Karachi.
Mr. Ali S. Habib(Chairman) Bank Al-Habib Ltd. M/s. A. F. Ferguson & Co.
Mr. Parvez Ghias(Chief Executive) The Royal Bank of Scotland Ltd.
Mr. Koji Hyodo(Vice Chairman) Askari Commercial Bank Ltd.
Mr. Farhad Zulficar(Director) Bank Of Tokyo - Mitsubishi Ltd.
Mr. Ilyas Suri(Director) Soneri Bank Ltd.
Mr. Mohammadali R.Habib(Director) HSBC Bank Middle East Ltd.
Mr. Yutaka Arae(Director) MCB Bank Ltd.

Production of cars Number 53,040 34,298
International Industries Ltd.

101, Beaumont Plaza, 10,Beaumont Road, Karachi-75530.
Mr. J. R. Rahim(Chairman) Standard Chartered Bank ( Pakistan) Ltd. KPMG Taseer Hadi & Co.
Mr. Towfiq H. Chinoy(M.D. / C.E.O.) NIB Bank Ltd.
Mr. Faud Azim Hashmi(Director) MCB Bank Ltd.
Mr. K M. M. Shah(Director) Soneri Bank Ltd.
Mr. Kamal A. Chinoy(Director) Bank Al-Habib Limited
Mr. Kemal Shoaib (NIT)(Director) HSBC Bank Middle East Ltd.
Mr. Zafar A. Khan(Director) Habib Bank Limited
Date of Annual General Meeting 31st August , 2009 Face Value Rs. 10.00

Polyethylen pipe M. Tons 8,000 3,557
Pipe M. Tons 312,000 138,728
Galvanizing M. Tons 150,000 65,030
377
Johnson & Philips (Pakistan) Ltd.
C-10 South Avenue, S.I.T.E. Karachi-75700
Mr. Shehryar Saeed(Chairman / C.E.O.) Soneri Bank Ltd. M/s. Riaz Ahmad, Saqib, Gohar & Co.
Ms. Marium Shafi(Director) Habib Bank Ltd.
Ms. Zainab Qureshi(Director) Silk Bank Ltd.
Mr.Sardar Adnan Ahmed Khan(Director) My Bank Ltd.
Mr. Naushad Ali Qassim Ali(Director)
Mr. Farooq A. Khan(Director)
Mr. Zaheer A. Khan(Director)

Engineering products
KSB Pumps Company Ltd.

16/2 Sir Agha Khan Road, Lahore-54000.
Dr. Agus Lee(Chairman) Bank Al Falah Ltd. M/S A. F. Ferguson & Co.
Mr. Muhammad Masud Akhtar(M.D. / C.E.O.) NIB Bank Ltd.
Mr. Jan Stoop(Director) MCB Bank Ltd.
Mr. Aizaz Sarfraz(Director) Natioanl Bank of Paksitan
Mr. Hasan Aziz Bilgrami (NIT)(Director) Deutsche Bank A.G.
Mr. Sajid Mahmood Awan(Director) United Bank Ltd.
Mr. R. D. Ahmad(Director)

Power driven pumps No.s' 6,000 3,501
378
Metropolitan Steel Corporation Ltd.
Plot No. HE-1, Landhi Industrial Area, Karachi
Mr.Mehmood Ali Mehkri(Chairman) Habib Bank Ltd. M/s. Anjum Asim Shahid Rahman & Co.
Engr. Syed Asghar Jamil Rizvi(Chief Execuative National Bank Of Pakistan
Muhammad Shakir(Director) The Royal Bank of Scotland Ltd.
Mr.Khwaja Maudood Ahmed(Director) United Bank Ltd.
Mrs. Uzma Mehmood Ali Mehkri(Director)
Mrs. Safia Shakir(Director)
Mr. Abdul Razzaq Noor(Director)

Wire rod and bar mill M. Tons 75,000 15,356
Mild steel wires M. Tons 27,000 8,139
Special steel wires M. Tons 9,000 1,038
Millat Tractors Ltd.

9 K.M. Sheikhupura Road, Shahdara, Lahore.
Mr. Sikandar Mustafa Khan(Chairman) RBS Bank Ltd. M/S A. F. Fergusan & Co.
Mr. Laeeq-u-ddin Ansari(Chief Executive) Bank Alfalah Ltd.
Mr. Sohail Bashir Rana(Director) Habib Bank Ltd.
Rana Mohammad Siddique(Director) MCB Bank Ltd
Mian Mohammad Saleem(Director) Meezan Bank Ltd.
Mr. Latif Khalid Hashmi(Director) United Bank Ltd.
Mr. S. M. Tanvir (MCB)(Director) Standard Chartered Bank ( Pakistan) Ltd.

Tractors Units 30,000 30,244
379
Pak Elektron Ltd.
17- Aziz Avenue, Canal Bank, Gullberg-V, Lahore.
Mr. M. Naseem Saigol(Chairman / C.E.O.) Bank of Khyber M/S M. Yousaf Adil Saleem & Co.
Mr. M. Azam Saigol(Director) Saudi Pak Commercial Bank Ltd.
Mr. Rizwan Hameed (NBP)(Director) Faysal Bank Ltd.
Mr. Haroon Ahmad Khan(Managing Director) National Bank of Pakistan
Mr. Muhammad Murad Saigol(Director) Deutsche Bank
Mr. Muhammad Zeid yousaf Saigol(Director) Bank of Punjab
Mr. Muhammad Rafi Khan(Director) Bank Alfalah Ltd.

Television Numbers 70,000 0
Transformers MVA 3,000 2,466
Switchgears Numbers 4,500 4,046
Pak Suzuki Motor Company Ltd.

DSU-13, Pakistan Steel Industrial Estate, Bin Qasim, Karachi.
Mr. Hirofumi Nagao(Chairman / C.E.O.) RBS Bank Ltd. M/s. Ernst & Young Ford Rhodes Sidat Hyder
Mr. Satoshi Ina(Deputy M.D.) Habib Bank Ltd.
Mr. Hidekazu Terada(Director) Bank Alfalah Ltd.
Mr. Kenichi Ayukawa(Director) Bank Al-Habib Ltd.
Mr. Mumtaz Sheikh(Director) Citibank N.A.
Mr. M.R.Monem(Director) MCB Bank Ltd.
Mr. Jamil Ahmed(Director) Faysal Bank Ltd.

All models of cars Units 150,000 51,032
Motorcycles Units 37,000 14,530
380
Pakistan Cables Ltd.
Plot No.B/21, Sindh Industrial Trading Estate, Manghopir Road , Karachi-75700.
Mr. Towfiq H. Chinoy(Chairman) Oman International Bank. KPMG Taseer Hadi & Co.
Mr. Kamal A. Chinoy(Chief Executive) MCB Bank Ltd.
Mr. Mustapha A. Chinoy(Director) NIB Bank Ltd.
Mr. Saquib H. Shirazi(Director) Habib Bank Ltd.
Mr. Haroun Rashid(Director) Standard Chartered Bank ( Pakistan) Ltd.
Syed Naeem Ahmed(Director) HSBC Bank Middle East Ltd.
Mr. Shahpur Channah(Director) Bank Al Habib Ltd.

Electric and telecom cables
Pakistan Engineering Company Ltd.

6-Ganga Ram Trust Building, Shahrah-e-Quaid-e-Azam, Lahore
Mr. Ghulam Rasool Ahpan(Chairman) National Bank Of Pakistan M/s.. Fazal Mahmood & Co.
Mr. M. Imtiaz-ur-Rehman(Chief Executive) Arif Habib Bank Ltd.
Mr. Khizar Hayat Khan(Director) United Bank Ltd.
Mr. Muhammad Arif Habib(Director)
Mr. Rashid Ali Khan(Director)
Mr. Liaquat Mohammad(Director)
Mr. Mohammah Shabir Malik(Director)

Pumps / Turbines No. 3,400 371
Electric Motors No. 16,500 273
Rolled Materials Tons 80,000 1,343
381
Pakistan Telephone Cables Ltd.
18th Mile RCD Highway, 27/3/2 Mouza Bairut, Teshil Hub, District: Lasbella , Balochistan.
Mr. Raza Abdul Aziz Al-Raee(Chairman / C.E.O. Bank Al-Falah Ltd. M/s.Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Aijaz Abdul Aziz Al-Raee(Director) Habib Bank Ltd.
Mr. Riyadh Abdul Aziz Al-Rahee(Director) KASB Bank Ltd.
Mrs. Rabia Barkat Ali(Director) NIB Bank Ltd.
Mr. Abdullah Razal Aziz Al-Raee(Director) Soneri Bank Ltd.
Mrs. Sumiah Saeed-ur-Rehman(Director)
Mrs. Asma Hafeez Al-Raee(Director)

Telephone cables Kilometers 2,500,000 0
Sazgar Engineering Works Ltd.

171-Ali Town, Thokar Niaz Baig, Raiwind Road, Lahore.
Mrs. Saira Hameed(Chairperson) Allied Bank Of Pakistan Ltd. M/s. Kabani Saeed Kamran Patel & Co.
Mian Asad Hameed(Chief Executive) Faysal Bank Ltd.
Mr. Saeed Iqbal Khan(Director) Habib Bank Ltd.
Mr. Ishtiaq Ahmed Roomi(Director) National Bank Of Pakistan
Mrs. Khadija Nilofer Ishtiaq(Director) Bank Alflah Limited
Mian Zafar Hameed(Director) The Bank Of Punjab
Mian Mohammad Ali Hameed(Director) Atlas Bank Ltd.

Wheel-rim Numbers Indeterminable 90,530
Auto-rickshaw Numbers Indeterminable 4,690
Panel back window Numbers Indeterminable 9,147
382
Siemens (Pakistan) Engineering Co. Ltd.
B-72, Estate Avenue, Sindh Industrial Trading Estates, Karachi-75700
Syed .Babar Ali(Chairman) Habib Bank Ltd. Ernst & Young Ford Rhodes Sidat Hydeer
Mr. Sohail Wajahat H. Siddiqui(Chief Executive) Meezan Bank Ltd.
Mr. Zahid Hussain(Director) MCB Bank Ltd.
Mr. Joerg Steinhaeuser(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Tajammal Hussain Bokharee(Director) Braclays Bank Ltd.
Mr. Gerhard Wilcke(Director) The Hongkong & Shanghai Banking Corp. Ltd.
Christian Knie(Director) The Royal Bank of Scotland Ltd.
Year Ending : 30th September, 2009 Market Price as on 30/09/2009 Rs. 1,414.50

Electric motore HP 300,000 80,845
Motors controlgears and controlboards HP 150,000 2,675
Electric transformers MVA 2,000 2,585
Singer Pakistan Ltd.

Plot No. 39, Sector-19, Korangi Industrial Area, korangi, Karachi.
Mr. Kamal Shah(Chairman / C.E.O.) JS Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Gavin J. Walker(Director) Soneri Bank Ltd.
Mr. Rasheed Y. Chinoy(Director) The Bank Of Punjab
Mr. Ahmed S. Farrukh(Director) Bank Islami Pakistan Ltd.
Mr. U. R. Usmani(Director) United Bank Limited
Mr. Jahangir Siddiqui(Director) The Royal Bank of Scottland Ltd.
Mr. Peter Janes O'Donnell(Director) Citibank N.A.

Sewing machine Numbers 50,000 36,983
Gas appliances Numbers 25,000 13,583
Refregrators/ deep freezers Numbers 25,000 35,268
383
The Climax Engineering Company Ltd.
Climaxabad, G. T. Road, Distt: Gujranwala.
Ch. M. A. Hameed(Chairman) Habib Bank Ltd. M/s. Qadeer & Co.
Ch. M. A. Qayyum(Chief Executive) National Bank Of Pakistan
Ch. Zia-ul-Hameed(Director) NIB Bank Ltd.
Ch. Abdul Salam(Director) Standard Charterd Bank Ltd.
Ch. Imtiaz A. Hameed(Director)
Ch. Mahmood Ghani Faizi(Director)
Ch. Usman Ghani Faizi(Director)

Transformers Numbers 15,000 687
Electric Fans Numbers 100,000 24,202
Electric Motors Numbers 20,000 146
Transmission Engineering Industries Ltd.

Plot No. B-14, Block A, Sindhi Muslim Cooperative Housing Society, Karachi.
Mr. Ausaf Hussain Agha(Chairman / C.E.O.) Habib Metropolitan Bank Limted M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Muhammad Aslam Khan(Deputy M.D.) Bank Al-Habib Limited
Mr. Tausif Hussain Agha(Director) Industrial Development Bank Of Pakistan
Mr. Asif Hussain Agha(Director) Faysal Bank Limited
Mr.Fasih Hussain Agha(Director)
Mr. Uzair Ashir(Director)
Ms. Sabahat Agha(Director)

Tractor Gear Numbers 230,000 257,827
Motor cycle Gear Numbers 324,000 0
Motor car (Small) Numbers 30,000 0
384
Sugar & Allied Sector
Sugar Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 3974.8 7137.4 9513.1 9057.0 9885.1 13703.8
5.Debentures 501.5 128.8 12.5 0.0 0.0 988.3
B.Liquidity:
1.Liquid Assets: 5164.7 7960.9 8639.9 8409.3 6429.3 7721.7
(i)Cash 1359.8 2146.6 2394.0 2572.7 2163.2 2737.4
(ii)Investments 3804.9 5814.3 6245.9 5836.6 4266.1 4984.3
3.Inventories 5608.7 7562.1 9326.6 11426.7 14189.5 13416.3
C.Fixed Assets:
4.Total assets (B4+C2) 41981.2 54817.7 64560.5 70646.2 82879.1 88129.5
D.Operation:
1.Gross sales 37058.8 47405.3 65845.3 60386.0 77215.6 78897.5
(i)Local sales 34105.6 42841.9 61707.6 55880.2 64701.9 71061.7
(ii)Export sales 2953.2 4563.4 4137.7 4505.8 12513.7 7835.8
2.Cost of Sales 34223.6 41879.3 59453.8 56780.9 68784.2 66857.0
3.Gross profit 2835.2 5526.0 6391.5 3605.1 8431.4 12040.5
8.Tax provision 260.2 568.2 410.8 343.4 425.2 811.2
F.Cash Flow Data
387
Sugar & Allied Industries

450
400
350
300
% 250
200
150
100
50
0
2004 2005 2006 2007 2008 2009

Abdullah Shah Ghazi Sugar Mills Ltd.(Al-Asif Sugar Mills Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -813.5 -816.3 -842.4 -866.5 -725.7 -631.5
5.Debentures 18.7 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.5 0.1 3.0 0.8 11.2 59.9
(i)Cash 1.5 0.1 3.0 0.8 11.2 59.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1.7 0.0 0.0 0.0 0.0 109.7
C.Fixed Assets:
4.Total assets (B4+C2) 438.8 550.5 509.7 459.1 486.4 910.1
D.Operation:
1.Gross sales 323.9 75.4 106.8 123.6 198.9 728.1
(i)Local sales 323.9 75.4 106.8 123.6 198.9 728.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 360.7 105.2 132.7 141.8 156.7 560.5
3.Gross profit -36.8 -29.8 -25.9 -18.2 42.2 167.6
7.Net profit before tax (D5-D6) 54.7 -10.2 -33.2 -26.1 138.6 95.6
8.Tax provision 1.4 0.3 0.5 0.5 0.0 3.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 698.3 -653.1 -135.8 -24.1 140.8 94.2
3.Finance from outside the company (E1-E2) 645.0 -642.6 -102.1 2.5 2.2 2.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 76.1 10.9 -12.8 -6.7 159.1 113.8
2.Depreciation for the year plus changes in capital employed (C3+E1) 721.1 -631.7 -114.9 -4.2 161.3 116.0
5.Return on assets (D7 as % of C4) 12.5 -1.9 -6.5 -5.7 28.5 10.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 2.6 - -1.5 -1.9 0.0 3.8
3.Net profit margin (D7 as % of D1) 16.9 -13.5 -31.1 -21.1 69.7 13.1
4.Earning per share before tax (D7/No. of ordinary shares) 3.7 -0.7 -2.3 -1.8 9.4 6.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 3.6 -0.7 -2.3 -1.8 9.4 6.3
389
Adam Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 63.5 82.4 589.4 348.3 386.8 409.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 90.6 28.1 18.7 21.3 46.1 55.1
(i)Cash 90.6 28.1 18.7 21.3 46.1 55.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 29.5 242.4 289.6 267.3 173.8 284.7
C.Fixed Assets:
4.Total assets (B4+C2) 618.9 633.3 1160.7 1140.2 1318.3 1272.8
D.Operation:
1.Gross sales 637.7 615.3 901.8 604.7 1042.3 1157.0
(i)Local sales 637.7 615.3 901.8 604.7 1017.9 1157.0
(ii)Export sales 0.0 0.0 0.0 0.0 24.4 0.0
2.Cost of Sales 558.8 543.2 868.8 728.6 904.1 887.5
3.Gross profit 78.9 72.1 33.0 -123.9 138.2 269.5
8.Tax provision 2.9 1.7 0.0 2.6 0.3 5.8
F.Cash Flow Data
390
Al-Abbas Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 461.7 562.7 478.7 551.3 696.2 935.6
5.Debentures 221.1 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 15.7 6.7 10.9 63.2 94.8 60.6
(i)Cash 15.7 6.7 10.9 32.4 48.4 12.5
(ii)Investments 0.0 0.0 0.0 30.8 46.4 48.1
3.Inventories 534.3 555.9 612.5 301.0 1036.2 813.8
C.Fixed Assets:
4.Total assets (B4+C2) 1804.3 1681.3 1678.4 1463.2 3768.6 3716.2
D.Operation:
1.Gross sales 1423.4 1845.7 2514.3 2842.3 2931.1 4167.0
(i)Local sales 785.2 1117.0 1702.7 1387.8 1476.6 2517.7
(ii)Export sales 638.2 728.7 811.6 1454.5 1454.5 1649.3
2.Cost of Sales 1090.0 1651.7 2316.2 2590.8 2719.1 3381.4
3.Gross profit 333.4 194.0 198.1 251.5 212.0 785.6
8.Tax provision 6.7 8.7 11.7 13.4 45.2 21.0
F.Cash Flow Data
391
Al-Noor Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 639.3 638.5 737.3 681.9 1286.4 1456.8
5.Debentures 125.4 80.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 121.5 96.8 57.3 57.9 124.1 251.6
(i)Cash 81.6 65.1 48.7 47.6 86.3 107.8
(ii)Investments 39.9 31.7 8.6 10.3 37.8 143.8
3.Inventories 165.4 207.5 230.8 393.7 1009.1 963.9
C.Fixed Assets:
4.Total assets (B4+C2) 2105.5 2193.8 2073.7 2338.1 3775.8 3802.8
D.Operation:
1.Gross sales 1741.0 1927.9 3058.1 2722.4 3145.2 4249.9
(i)Local sales 1650.7 1720.2 2764.1 2471.0 2521.1 3630.8
(ii)Export sales 90.3 207.7 294.0 251.4 624.1 619.1
2.Cost of Sales 1537.4 1630.2 2642.8 2395.2 2582.3 3567.0
3.Gross profit 203.6 297.7 415.3 327.2 562.9 682.9
8.Tax provision 8.3 9.1 14.2 12.8 11.3 35.0
F.Cash Flow Data
392
Ansari Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -318.3 -273.7 -167.8 -247.0 -247.0 -247.0
3.Shareholder's Equity (A1+A2) -74.2 -29.6 76.3 -2.9 -2.9 -2.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 127.2 90.6 123.6 16.4 16.4 16.4
(i)Cash 127.2 90.6 123.6 16.4 16.4 16.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 91.9 43.1 130.8 104.6 104.6 104.6
C.Fixed Assets:
4.Total assets (B4+C2) 1142.6 1019.8 1147.3 1061.1 1061.1 1061.1
D.Operation:
1.Gross sales 1045.2 957.9 1574.7 1580.3 1580.3 1580.3
(i)Local sales 1045.2 957.9 1574.7 1580.3 1580.3 1580.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1049.5 939.2 1372.5 1584.8 1584.8 1584.8
3.Gross profit -4.3 18.7 202.2 -4.5 -4.5 -4.5
8.Tax provision 4.5 4.2 6.8 6.9 6.9 6.9
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -70.4 -29.4 111.5 -78.7 42.7 42.7
7.Cash flow ratio F1 as % of F2 - - 154.8 46.5 -85.7 -85.7
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -30.4 -12.1 31.3 -1.2 -1.2 -1.2
10.Break-up value of ordinary shares (in rupees) -3.0 -1.2 3.1 -0.1 -0.1 -0.1
393
Baba Farid Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -114.6 -103.7 -10.2 -164.0 378.1 272.2
3.Shareholder's Equity (A1+A2) -20.1 -9.2 84.3 -69.5 472.6 366.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.0 265.6 79.0 71.4 29.4 7.9
(i)Cash 10.0 50.6 79.0 71.4 29.4 7.9
(ii)Investments 0.0 215.0 0.0 0.0 0.0 0.0
3.Inventories 184.7 248.1 238.4 406.5 6.5 4.2
C.Fixed Assets:
4.Total assets (B4+C2) 656.3 832.6 805.9 953.1 1288.3 1216.2
D.Operation:
1.Gross sales 456.1 703.2 947.8 588.7 1308.4 579.3
(i)Local sales 456.1 703.2 947.8 588.7 1308.4 579.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 432.6 585.2 846.7 586.0 1251.5 606.2
3.Gross profit 23.5 118.0 101.1 2.7 56.9 -26.9
5.Operating profit -10.5 89.6 62.1 -42.5 37.4 -76.8
8.Tax provision 2.0 3.4 4.4 3.2 0.0 3.1
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -425.7 66.8 -30.3 102.0 -2.1 68.7
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -21.3 -9.7 89.2 -73.5 500.1 388.0
10.Financial expenses as % of operating profit (D6 as % of D5) - 85.7 133.5 -227.5 170.1 -50.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 26.6 -21.2 -2.3 0.0 -2.7
15.Return on Equity (D7 as % of A3) - - -24.7 0.0 -5.5 -31.6
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -38.7 54.2 34.8 -37.9 122.3 -55.7
10.Break-up value of ordinary shares (in rupees) -2.1 -1.0 8.9 -7.4 50.0 38.8
394
Bawany Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -713.8 -788.7 -821.6 -864.3 -833.5 -732.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.7 1.5 4.9 2.2 4.8 0.6
(i)Cash 2.3 1.5 4.9 2.2 4.8 0.6
(ii)Investments 0.4 0.0 0.0 0.0 0.0 0.0
3.Inventories 2.1 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 453.4 449.7 377.9 331.3 340.3 296.1
D.Operation:
1.Gross sales 661.5 154.3 179.4 177.3 291.2 58.0
(i)Local sales 661.5 154.3 179.4 177.3 291.2 58.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 670.9 165.8 223.8 211.2 258.6 148.8
3.Gross profit -9.4 -11.5 -44.4 -33.9 32.6 -90.8
8.Tax provision 2.8 0.7 0.8 0.9 0.0 0.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -13.6 -12.1 15.1 -17.2 -22.7 -23.6
7.Cash flow ratio F1 as % of F2 -0.5 -3.8 4.5 -7.5 -47.6 -30.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -2.6 -76.7 16.3 -1.2 64.2 -80.1
395
Chashma Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 266.0 343.8 293.7 -63.3 830.7 612.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 18.6 38.9 102.5 42.6 46.3 21.0
(i)Cash 18.6 38.9 102.5 42.6 46.3 21.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 128.7 97.1 263.3 1131.2 1438.1 701.4
C.Fixed Assets:
4.Total assets (B4+C2) 996.8 1441.6 2420.8 3460.4 4508.5 3534.7
D.Operation:
1.Gross sales 1622.5 1414.0 1360.8 1896.5 2858.9 3963.6
(i)Local sales 1128.6 1245.2 1322.9 1896.5 2093.3 3963.6
(ii)Export sales 493.9 168.8 37.9 0.0 765.6 0.0
2.Cost of Sales 1538.7 1187.2 1305.5 1967.6 2512.9 3595.6
3.Gross profit 83.8 226.8 55.3 -71.1 346.0 368.0
8.Tax provision 11.0 7.5 6.0 8.2 8.4 19.9
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 7.8 68.8 -7.8 58.8 -6.8 -192.7
396
Colony Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - - - 351.0
5.Debentures - - - - - 0.0
B.Liquidity:
1.Liquid Assets: - - - - - 25.7
(i)Cash - - - - - 25.7
3.Inventories - - - - - 1064.5
C.Fixed Assets:
4.Total assets (B4+C2) - - - - - 4835.3
D.Operation:
1.Gross sales - - - - - 4009.3
(i)Local sales - - - - - 3357.0
2.Cost of Sales - - - - - 2923.1
3.Gross profit - - - - - 1086.2
7.Net profit before tax (D5-D6) - - - - - 353.5
2.Retention in business (D7-D8-D9) - - - - - 330.2
F.Cash Flow Data
5.Return on assets (D7 as % of C4) - - - - - 7.3
4.Earning per share before tax (D7/No. of ordinary shares) - - - - - 3.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - - 3.3
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - - - 260.0
397
Crescent Sugar Mills And Distillery Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 280.1 347.2 171.4 403.9 144.7 120.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 328.4 338.3 276.0 547.5 329.7 246.2
(i)Cash 11.8 12.2 19.2 13.3 11.6 6.6
(ii)Investments 316.6 326.1 256.8 534.2 318.1 239.6
3.Inventories 368.4 206.5 203.2 231.2 310.0 170.4
C.Fixed Assets:
4.Total assets (B4+C2) 1316.2 1170.7 1169.9 1451.9 1300.8 1110.4
D.Operation:
1.Gross sales 2011.7 2318.5 2236.5 2395.5 2544.9 2098.6
(i)Local sales 1601.8 1881.0 1817.7 2028.4 2102.4 1677.6
(ii)Export sales 409.9 437.5 418.8 367.1 442.5 421.0
2.Cost of Sales 1984.0 2124.5 2092.5 2302.1 2414.2 2039.4
3.Gross profit 27.7 194.0 144.0 93.4 130.7 59.2
7.Net profit before tax (D5-D6) -49.8 101.7 -26.7 16.4 -56.3 -140.0
8.Tax provision 9.5 7.8 10.8 11.7 4.3 12.6
2.Retention in business (D7-D8-D9) -59.3 93.9 -37.5 4.7 -60.6 -152.6
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -3.8 8.7 -2.3 1.1 -4.3 -12.6
6.Self financing ratio (E2 as % of E1) -106.7 263.0 43.9 2.4 20.8 -8031.6
7.Cash flow ratio F1 as % of F2 -12.0 171.0 -12.7 18.4 5.7 -2990.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 7.7 -40.4 71.3 -7.6 -9.0
15.Return on Equity (D7 as % of A3) -10.6 18.9 -6.9 2.7 -15.7 -41.8
3.Net profit margin (D7 as % of D1) -2.5 4.4 -1.2 0.7 -2.2 -6.7
4.Earning per share before tax (D7/No. of ordinary shares) -2.6 5.4 -1.2 0.8 -2.6 -6.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -3.1 4.9 -1.8 0.2 -2.8 -7.1
398
Dewan Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 882.7 975.6 1574.1 1279.3 598.1 446.9
5.Debentures 37.5 25.0 12.5 0.0 0.0 12.5
B.Liquidity:
1.Liquid Assets: 301.2 351.9 28.9 216.0 94.0 39.0
(i)Cash 14.5 18.8 28.9 15.3 35.3 10.6
(ii)Investments 286.7 333.1 0.0 200.7 58.7 28.4
3.Inventories 898.7 1797.2 577.5 862.1 828.0 748.4
C.Fixed Assets:
4.Total assets (B4+C2) 4284.5 6605.9 7026.6 7069.0 6897.5 6337.6
D.Operation:
1.Gross sales 857.7 3307.4 7262.9 4854.5 6200.5 2439.1
(i)Local sales 815.9 3072.9 6911.2 4076.2 4876.2 2081.6
(ii)Export sales 41.8 234.5 351.7 778.3 1324.3 357.5
2.Cost of Sales 716.7 3099.3 6778.0 4702.3 6158.1 2419.7
3.Gross profit 141.0 208.1 484.9 152.2 42.4 19.4
8.Tax provision 20.9 26.4 42.9 26.5 33.3 3.7
F.Cash Flow Data
399
Faran Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -13.2 9.4 91.8 59.9 145.9 230.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 56.2 72.9 125.3 139.1 232.7 248.2
(i)Cash 4.2 15.7 40.6 41.2 51.0 78.0
(ii)Investments 52.0 57.2 84.7 97.9 181.7 170.2
3.Inventories 116.5 117.6 276.0 149.5 482.7 479.1
C.Fixed Assets:
4.Total assets (B4+C2) 802.6 856.6 1032.9 1037.0 1510.9 1529.0
D.Operation:
1.Gross sales 1123.0 1323.5 2795.0 2093.3 1691.1 2409.5
(i)Local sales 1056.2 1323.5 2795.0 2093.3 1691.1 2409.5
(ii)Export sales 66.8 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1052.8 1255.0 2521.8 2017.6 1546.5 2218.8
3.Gross profit 70.2 68.5 273.2 75.7 144.6 190.7
8.Tax provision 5.3 5.7 12.2 9.6 16.0 18.5
3.Finance from outside the company (E1-E2) -26.4 31.7 -38.6 -7.9 -53.0 5.4
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -30.7 17.9 111.2 -25.1 -19.2 42.5
400
Fecto Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -118.1 -79.4 54.8 -158.4 -194.1 -126.2
3.Shareholder's Equity (A1+A2) -67.8 -29.1 105.1 -12.5 -48.2 19.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 155.0 97.0 33.2 5.1 15.8 4.1
(i)Cash 49.7 4.6 8.4 5.1 15.8 4.1
(ii)Investments 105.3 92.4 24.8 0.0 0.0 0.0
3.Inventories 0.0 219.4 323.5 356.3 33.3 2.0
C.Fixed Assets:
4.Total assets (B4+C2) 1672.7 1563.8 1906.6 1845.7 1505.7 1575.5
D.Operation:
1.Gross sales 848.4 1168.4 1001.8 972.0 1854.4 1205.4
(i)Local sales 848.4 1168.4 1001.8 972.0 1854.4 1205.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 829.3 983.7 938.9 1030.8 1745.6 1146.7
3.Gross profit 19.1 184.7 62.9 -58.8 108.8 58.7
5.Operating profit -18.5 139.9 16.4 -107.3 45.8 -6.7
8.Tax provision 3.8 5.5 4.7 4.5 0.0 6.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -19.0 90.4 -38.5 -141.7 21.6 -25.5
6.Self financing ratio (E2 as % of E1) -30.9 - 1081.1 97.8 -137.1 -213.3
7.Cash flow ratio F1 as % of F2 -5.6 239.8 -77.3 96.7 19.5 -23.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -134.8 -57.9 208.9 -8.6 -33.0 13.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 16.2 -5.1 -2.1 0.0 -7.5
15.Return on Equity (D7 as % of A3) - - -88.1 0.0 0.0 -439.1
10.Break-up value of ordinary shares (in rupees) -13.5 -5.8 20.9 -0.9 -3.3 1.4
401
Habib - ADM Ltd.( Habib Arkady LTD.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 135.3 159.2 172.5 247.1 312.5 414.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.1 4.3 16.5 14.1 11.5 52.7
(i)Cash 3.1 4.3 16.5 14.1 10.5 51.7
(ii)Investments 0.0 0.0 0.0 0.0 1.0 1.0
3.Inventories 105.5 79.4 86.2 70.3 179.3 139.7
C.Fixed Assets:
4.Total assets (B4+C2) 495.2 479.0 481.5 509.4 681.7 684.4
D.Operation:
1.Gross sales 466.2 494.9 559.2 743.7 1187.5 1131.8
(i)Local sales 368.8 314.4 402.0 743.7 1187.5 898.7
(ii)Export sales 97.4 180.5 157.2 0.0 0.0 233.1
2.Cost of Sales 393.3 350.1 404.8 483.7 865.2 869.7
3.Gross profit 72.9 144.8 154.4 260.0 322.3 262.1
8.Tax provision 4.1 7.5 5.1 11.6 21.6 10.8
F.Cash Flow Data
402
Habib Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 905.1 722.5 1347.1 1691.7 1670.5 1973.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 362.4 429.5 996.0 1439.9 1292.2 2151.4
(i)Cash 142.2 18.0 381.3 638.5 736.5 1595.7
(ii)Investments 220.2 411.5 614.7 801.4 555.7 555.7
3.Inventories 303.8 531.9 419.3 390.5 438.2 211.0
9.Net liquid assets (B1-B5) -380.0 -705.1 163.4 480.1 -31.9 798.6
C.Fixed Assets:
4.Total assets (B4+C2) 1809.6 2019.3 2395.7 2939.4 3354.4 3806.5
D.Operation:
1.Gross sales 2252.3 3072.0 4019.3 2839.0 4490.4 4584.2
(i)Local sales 2252.3 1959.9 4019.3 2839.0 2102.4 3078.1
(ii)Export sales 0.0 1112.1 0.0 0.0 2388.0 1506.1
2.Cost of Sales 1950.5 2777.6 3601.8 2468.8 3755.7 3720.2
3.Gross profit 301.8 294.4 417.5 370.2 734.7 864.0
8.Tax provision 39.4 50.0 68.0 47.5 80.0 175.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 225.5 - 678.6 416.6 50.8 423.2
3.Finance from outside the company (E1-E2) 118.5 - 507.6 265.4 -282.8 111.4
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 286.0 - 743.8 478.6 117.2 500.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 189.5 - -5.5 -26.4 57.3 -2.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 128.8 - 30.8 -29.4 58.2 2.1
403
Haseeb Waqas Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 312.3 371.5 212.3 101.5 164.3 206.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 72.6 13.1 77.3 25.0 5.0 146.1
(i)Cash 72.6 13.1 77.3 25.0 5.0 146.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 290.2 124.6 277.9 417.2 233.2 35.2
C.Fixed Assets:
4.Total assets (B4+C2) 1529.8 1275.1 1535.2 1571.0 1497.1 1361.0
D.Operation:
1.Gross sales 1867.8 1568.0 1091.1 1015.4 1324.2 1054.9
(i)Local sales 1867.8 1477.1 1043.1 1015.4 1324.2 1054.9
(ii)Export sales 0.0 90.9 48.0 0.0 0.0 0.0
2.Cost of Sales 1745.1 1348.6 1092.9 1013.1 1288.7 856.7
3.Gross profit 122.7 219.4 -1.8 2.3 35.5 198.2
5.Operating profit 86.4 186.8 -26.8 -27.1 10.8 167.5
8.Tax provision 8.2 36.3 8.8 4.4 0.0 5.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 78.2 160.9 -58.0 -81.2 -41.5 90.8
6.Self financing ratio (E2 as % of E1) 20.9 - 55.9 97.3 -118.2 144.1
10.Financial expenses as % of operating profit (D6 as % of D5) 73.7 27.5 -303.0 -400.7 1009.3 77.7
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 18.1 -16.1 -30.4 -6.9 30.4 -20.3
404
Husein Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 219.2 312.5 283.5 245.3 279.6 180.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 74.6 50.4 20.4 18.4 45.5 36.0
(i)Cash 67.8 39.5 7.5 6.1 33.8 28.9
(ii)Investments 6.8 10.9 12.9 12.3 11.7 7.1
3.Inventories 98.7 140.9 314.6 249.4 41.4 104.0
C.Fixed Assets:
4.Total assets (B4+C2) 487.8 644.1 816.6 743.4 593.1 666.3
D.Operation:
1.Gross sales 1235.4 1324.4 1153.2 1534.5 1897.5 1468.3
(i)Local sales 1226.2 1324.4 1153.2 1534.5 1897.5 1468.3
(ii)Export sales 9.2 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1097.4 1079.1 1043.2 1519.4 1724.5 1418.7
3.Gross profit 138.0 245.3 110.0 15.1 173.0 49.6
8.Tax provision 25.1 50.3 5.1 6.7 0.0 7.4
F.Cash Flow Data
405
JDW Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 378.7 751.1 915.4 893.3 539.8 1414.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 84.9 153.0 991.7 1605.8 1083.6 1667.8
(i)Cash 84.9 153.0 5.4 22.0 3.4 3.5
(ii)Investments 0.0 0.0 986.3 1583.8 1080.2 1664.3
3.Inventories 33.7 0.0 0.0 358.2 876.4 1436.3
7.Net Current Assets(B4-B5) 352.6 -131.4 413.9 431.1 -847.2 -473.4
C.Fixed Assets:
4.Total assets (B4+C2) 2502.1 3634.9 5178.9 7243.4 8018.0 10410.6
D.Operation:
1.Gross sales 2057.5 3194.3 6489.8 6144.7 8718.1 7572.7
(i)Local sales 2057.5 3194.3 6489.8 6144.7 8718.1 7572.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1639.3 2549.2 5336.8 5328.3 7082.7 5670.1
3.Gross profit 418.2 645.1 1153.0 816.4 1635.4 1902.6
8.Tax provision 9.5 14.0 28.3 0.0 27.4 62.1
F.Cash Flow Data
406
Khairpur Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -31.3 -84.6 -117.1 -178.6 -37.6 -8.9
3.Shareholder's Equity (A1+A2) 128.9 75.6 43.1 -18.4 122.6 151.3
5.Debentures 32.2 23.9 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 13.9 5.4 14.8 8.0 39.7
(i)Cash 1.4 13.9 5.4 14.8 8.0 39.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 8.1 7.0 59.9 5.6 252.6 44.6
C.Fixed Assets:
4.Total assets (B4+C2) 987.6 981.6 1004.9 931.9 1481.2 1506.1
D.Operation:
1.Gross sales 610.5 639.5 850.7 994.3 716.3 1075.5
(i)Local sales 610.5 639.5 850.7 994.3 716.3 1075.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 663.3 654.1 820.4 990.7 713.6 989.9
3.Gross profit -52.8 -14.6 30.3 3.6 2.7 85.6
7.Net profit before tax (D5-D6) -85.1 -51.6 -18.5 -57.3 -49.9 25.1
8.Tax provision 2.7 2.8 3.7 4.3 0.0 5.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 281.2 -116.8 -112.8 224.6 -293.6 -44.4
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -8.6 -5.3 -1.8 -6.1 -3.4 1.7
6.Self financing ratio (E2 as % of E1) -31.2 - 19.7 -27.4 17.0 -44.4
7.Cash flow ratio F1 as % of F2 -5.7 - -48.3 -4.5 -0.7 363.8
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 80.5 47.2 26.9 -11.5 76.5 94.4
10.Financial expenses as % of operating profit (D6 as % of D5) - - -115.1 -32.0 -30.6 11.6
15.Return on Equity (D7 as % of A3) -66.0 -68.3 -42.9 0.0 -40.7 16.6
4.Earning per share before tax (D7/No. of ordinary shares) -5.3 -3.2 -1.2 -3.6 -3.1 1.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -5.5 -3.4 -1.4 -3.8 -3.1 1.2
10.Break-up value of ordinary shares (in rupees) 8.0 4.7 2.7 -1.1 7.7 9.4
407
Kohinoor Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 407.5 449.4 677.3 512.7 468.2 563.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.2 2.9 9.6 1.2 8.8 13.4
(i)Cash 1.2 2.9 9.6 1.2 8.8 13.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 95.6 66.4 219.0 176.0 358.4 92.4
C.Fixed Assets:
4.Total assets (B4+C2) 903.2 919.3 1696.5 1859.5 2142.2 1990.0
D.Operation:
1.Gross sales 947.4 974.1 1037.9 748.6 1089.2 1379.0
(i)Local sales 947.4 974.1 1037.9 748.6 1089.2 1379.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 847.9 838.9 900.3 787.8 1054.2 1196.6
3.Gross profit 99.5 135.2 137.6 -39.2 35.0 182.4
8.Tax provision 0.0 13.6 4.6 3.8 0.0 1.3
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - 65.6 10.5 -636.6 -57.9 183.4
408
Mehran Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 127.4 67.5 131.4 20.0 77.4 215.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 54.8 56.9 110.2 100.1 153.2 214.6
(i)Cash 3.1 0.2 26.5 2.2 1.7 1.3
(ii)Investments 51.7 56.7 83.7 97.9 151.5 213.3
3.Inventories 321.5 203.8 139.7 118.4 437.1 141.3
C.Fixed Assets:
4.Total assets (B4+C2) 950.6 824.5 805.5 763.7 1191.6 1118.5
D.Operation:
1.Gross sales 773.3 1109.3 2259.6 1485.9 1439.3 2387.4
(i)Local sales 773.3 1109.3 1900.8 1376.9 1202.0 2387.4
(ii)Export sales 0.0 0.0 358.8 109.0 237.3 0.0
2.Cost of Sales 739.8 1048.3 2071.1 1493.3 1320.7 1994.4
3.Gross profit 33.5 61.0 188.5 -7.4 118.6 393.0
8.Tax provision 3.6 5.6 9.8 6.5 2.4 5.1
2.Retention in business (D7-D8-D9) 26.8 -0.9 89.1 -117.0 58.2 199.3
F.Cash Flow Data
409
Mirpurkhas Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 98.2 227.9 339.9 295.1 200.5 385.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 283.1 314.8 294.0 316.6 228.8 266.6
(i)Cash 3.3 5.9 12.0 10.1 13.3 35.0
(ii)Investments 279.8 308.9 282.0 306.5 215.5 231.6
3.Inventories 262.3 198.8 336.4 183.8 426.6 203.2
C.Fixed Assets:
4.Total assets (B4+C2) 989.5 940.4 1067.9 1004.3 1252.4 1313.1
D.Operation:
1.Gross sales 569.8 890.1 1591.4 1294.5 1128.8 1803.2
(i)Local sales 564.1 890.1 1591.4 1294.5 927.1 1803.2
(ii)Export sales 5.7 0.0 0.0 0.0 201.7 0.0
2.Cost of Sales 567.0 761.3 1329.9 1242.9 980.4 1471.6
3.Gross profit 2.8 128.8 261.5 51.6 148.4 331.6
7.Net profit before tax (D5-D6) -31.0 101.9 211.6 -50.6 62.8 214.2
8.Tax provision 2.9 4.8 7.8 6.1 2.5 10.9
2.Retention in business (D7-D8-D9) -33.9 97.1 189.4 -56.7 53.9 187.3
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -3.1 10.8 19.8 -5.0 5.0 16.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 4.7 3.7 -12.1 4.0 5.1
15.Return on Equity (D7 as % of A3) -19.1 34.9 52.4 -14.1 23.8 47.7
3.Net profit margin (D7 as % of D1) -5.4 11.4 13.3 -3.9 5.6 11.9
4.Earning per share before tax (D7/No. of ordinary shares) -4.9 15.9 33.1 -7.9 9.8 33.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -5.3 15.2 31.9 -8.9 9.4 31.8
410
Mirza Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -790.3 -749.8 -922.5 -971.0 -937.6 -777.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.5 2.9 1.3 1.7 1.3 2.5
(i)Cash 2.5 2.9 1.3 1.7 1.3 2.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 48.3 122.8 1.6 7.2 44.9 65.6
C.Fixed Assets:
4.Total assets (B4+C2) 407.2 456.0 307.7 291.9 308.8 316.2
D.Operation:
1.Gross sales 389.5 227.4 641.3 558.9 732.3 649.5
(i)Local sales 389.5 227.4 641.3 558.9 732.3 649.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 435.0 277.4 605.1 562.8 706.2 556.2
3.Gross profit -45.5 -50.0 36.2 -3.9 26.1 93.3
5.Operating profit -73.2 -75.8 11.0 -23.5 50.9 173.7
8.Tax provision 1.7 1.0 2.8 2.5 0.0 3.3
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -174.1 -77.5 -212.1 -60.2 -42.8 105.6
7.Cash flow ratio F1 as % of F2 - - -3.2 33.7 -131.5 175.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -21.1 -41.6 182.0 -12.8 31.0 -11.3
411
Noon Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 607.7 921.5 878.7 842.3 757.8 815.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 157.0 365.5 106.3 96.1 121.6 64.9
(i)Cash 137.0 237.7 18.2 14.9 16.3 9.8
(ii)Investments 20.0 127.8 88.1 81.2 105.3 55.1
3.Inventories 99.6 87.0 374.6 471.1 318.1 133.2
9.Net liquid assets (B1-B5) -20.1 95.7 -347.1 -727.6 -637.8 -435.7
C.Fixed Assets:
4.Total assets (B4+C2) 853.8 1318.4 1877.0 2163.6 1934.4 1598.8
D.Operation:
1.Gross sales 1223.4 1210.2 1001.1 1219.6 2011.7 1713.4
(i)Local sales 914.4 946.5 788.5 963.6 1472.8 1514.3
(ii)Export sales 309.0 263.7 212.6 256.0 538.9 199.1
2.Cost of Sales 1003.8 976.7 928.0 1149.3 1780.4 1443.2
3.Gross profit 219.6 233.5 73.1 70.3 231.3 270.2
8.Tax provision 21.0 39.0 4.5 5.5 5.4 9.6
F.Cash Flow Data
412
Pangrio Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -648.6 -802.9 -762.4 -795.1 -800.4 -688.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.1 2.1 0.9 0.7 2.0 1.4
(i)Cash 3.1 2.1 0.9 0.7 2.0 1.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 58.8 174.2 0.0 13.4 53.3 122.2
C.Fixed Assets:
4.Total assets (B4+C2) 307.4 402.0 215.0 217.7 252.0 234.5
D.Operation:
1.Gross sales 481.4 230.1 773.8 557.0 731.4 392.0
(i)Local sales 481.4 230.1 773.8 557.0 731.4 392.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 523.6 320.1 738.9 576.0 726.1 349.8
3.Gross profit -42.2 -90.0 34.9 -19.0 5.3 42.2
7.Net profit before tax (D5-D6) -73.0 -79.6 12.8 -30.2 -5.3 189.2
8.Tax provision 2.1 1.0 3.5 2.5 0.0 2.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -112.1 23.7 -49.8 -98.2 -27.5 133.5
2.Retention in business (D7-D8-D9) -75.1 -80.6 9.3 -32.7 -5.3 187.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -112.1 44.7 -30.9 -81.3 -11.2 141.4
5.Return on assets (D7 as % of C4) -23.7 -19.8 6.0 -13.9 -2.1 80.7
6.Self financing ratio (E2 as % of E1) - -340.1 -18.7 33.3 19.3 140.2
7.Cash flow ratio F1 as % of F2 - -133.3 -91.3 19.4 -98.2 138.0
4.Earning per share before tax (D7/No. of ordinary shares) -6.7 -7.3 1.2 -2.8 -0.5 17.4
413
Sakrand Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -342.5 -427.2 -408.4 -530.5 -530.5 584.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 37.7 12.1 45.3 27.5 27.5 37.9
(i)Cash 37.7 12.1 45.3 27.5 27.5 1.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 36.1
3.Inventories 30.6 29.8 75.4 60.7 60.7 263.0
C.Fixed Assets:
4.Total assets (B4+C2) 910.8 817.6 876.4 816.8 816.8 1671.4
D.Operation:
1.Gross sales 869.0 594.9 981.5 1144.5 1144.5 920.5
(i)Local sales 869.0 594.9 981.5 1144.5 1144.5 920.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 852.1 567.5 866.2 1182.2 1182.2 903.4
3.Gross profit 16.9 27.4 115.3 -37.7 -37.7 17.1
5.Operating profit -12.7 23.6 82.7 -77.3 -77.3 525.3
7.Net profit before tax (D5-D6) -75.4 -18.1 39.4 -117.3 -117.3 491.8
8.Tax provision 3.7 2.6 4.3 5.0 5.0 4.6
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -37.0 17.8 72.0 -86.7 -86.7 529.0
5.Return on assets (D7 as % of C4) -8.3 -2.2 4.5 -14.4 -14.4 29.4
7.Cash flow ratio F1 as % of F2 -87.9 - 25.8 46.7 -243.5 51.2
10.Financial expenses as % of operating profit (D6 as % of D5) - 176.7 52.4 -51.7 -51.7 6.4
4.Earning per share before tax (D7/No. of ordinary shares) -3.4 -0.8 1.8 -5.3 -5.3 22.0
414
Saleem Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -303.6 -308.8 -307.7 -308.7 -303.8 -308.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.2 0.2 0.0 0.0 0.0
(i)Cash 0.0 0.2 0.2 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 37.9 37.6 37.3 36.7 36.3 35.9
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 5.7 0.0
(i)Local sales 0.0 0.0 0.0 0.0 5.7 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 5.7 0.0
7.Net profit before tax (D5-D6) -0.4 -5.3 1.2 -1.1 4.9 -4.7
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
2.Retention in business (D7-D8-D9) -0.4 -5.3 1.2 -1.1 4.9 -4.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 0.1 -4.9 1.6 -0.7 5.3 -4.3
5.Return on assets (D7 as % of C4) -1.1 -14.1 3.2 -3.0 13.5 -13.1
4.Earning per share before tax (D7/No. of ordinary shares) -0.2 -3.1 0.7 -0.6 2.9 -2.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.2 -3.1 0.7 -0.6 2.9 -2.8
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - - -100.0
415
Sanghar Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 6.3 -21.5 22.1 -13.0 42.8 109.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.7 2.8 5.4 2.6 14.4 15.8
(i)Cash 9.7 2.8 5.4 2.6 14.4 15.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 24.8 12.4 6.7 6.7 30.7 139.2
C.Fixed Assets:
4.Total assets (B4+C2) 667.0 664.0 668.5 652.0 638.0 773.3
D.Operation:
1.Gross sales 787.6 650.0 1204.9 1236.7 2170.1 1679.5
(i)Local sales 739.9 625.8 1177.2 1236.7 2103.2 1679.5
(ii)Export sales 47.7 24.2 27.7 0.0 66.9 0.0
2.Cost of Sales 704.8 617.5 1026.2 1165.2 1936.4 1454.0
3.Gross profit 82.8 32.5 178.7 71.5 233.7 225.5
7.Net profit before tax (D5-D6) 18.8 -19.9 94.1 -12.5 134.4 115.2
8.Tax provision 3.6 3.1 5.7 5.8 20.0 47.6
2.Retention in business (D7-D8-D9) 15.2 -23.0 88.4 -18.3 114.4 55.7
3.Finance from outside the company (E1-E2) -24.2 -20.2 -61.2 -34.1 -77.7 -9.0
F.Cash Flow Data
15.Return on Equity (D7 as % of A3) 14.9 -20.3 66.5 -11.7 82.8 50.3
3.Net profit margin (D7 as % of D1) 2.4 -3.1 7.8 -1.0 6.2 6.9
416
Shahmurad Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 276.5 220.3 239.2 232.1 391.3 681.1
5.Debentures 66.6 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.6 31.2 288.9 120.6 10.3 14.0
(i)Cash 3.7 27.5 44.8 116.4 6.0 9.6
(ii)Investments 2.9 3.7 244.1 4.2 4.3 4.4
3.Inventories 413.5 522.9 343.2 670.7 922.7 831.5
C.Fixed Assets:
4.Total assets (B4+C2) 2230.1 2684.9 2728.9 2861.3 3235.1 3060.6
D.Operation:
1.Gross sales 944.9 1170.8 2059.2 1687.2 2454.9 2887.4
(i)Local sales 917.2 784.9 1383.9 1206.0 718.3 1904.1
(ii)Export sales 27.7 385.9 675.3 481.2 1736.6 983.3
2.Cost of Sales 814.5 1039.9 1794.6 1399.1 1869.6 2283.8
3.Gross profit 130.4 130.9 264.6 288.1 585.3 603.6
7.Net profit before tax (D5-D6) -0.5 -51.3 13.6 -9.0 158.2 114.9
8.Tax provision 4.1 5.4 9.8 9.3 16.1 14.5
2.Retention in business (D7-D8-D9) -4.6 -56.7 3.8 -18.3 121.0 68.7
F.Cash Flow Data
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - -10.5 72.1 -103.3 10.2 12.6
15.Return on Equity (D7 as % of A3) -0.1 -11.9 3.0 -2.0 26.3 12.9
3.Net profit margin (D7 as % of D1) -0.1 -4.4 0.7 -0.5 6.4 4.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -0.2 -2.7 0.2 -0.9 6.7 4.8
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -17.0 23.9 75.9 -18.1 45.5 17.6
417
Shahtaj Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 296.1 416.0 453.2 502.7 585.8 805.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 104.1 377.7 108.8 321.8 272.5 732.4
(i)Cash 94.1 367.7 82.4 298.8 221.7 41.6
(ii)Investments 10.0 10.0 26.4 23.0 50.8 690.8
3.Inventories 72.9 9.8 197.1 16.1 154.0 10.1
9.Net liquid assets (B1-B5) -94.5 122.3 -81.2 170.5 49.1 422.6
C.Fixed Assets:
4.Total assets (B4+C2) 614.9 791.4 763.2 774.1 929.2 1235.4
D.Operation:
1.Gross sales 1840.9 1669.3 1886.6 2502.5 1993.8 2828.7
(i)Local sales 1840.9 1669.3 1886.6 2502.5 1993.8 2828.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1643.1 1262.4 1661.6 2245.5 1681.7 2245.5
3.Gross profit 197.8 406.9 225.0 257.0 312.1 583.2
8.Tax provision 43.0 117.0 52.0 54.5 68.6 141.3
F.Cash Flow Data
418
Shakarganj Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1620.0 2609.5 2780.4 3844.6 2966.8 1487.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 975.8
B.Liquidity:
1.Liquid Assets: 2369.7 3642.3 3480.7 2300.1 1671.7 759.5
(i)Cash 28.3 101.1 190.3 493.2 346.4 28.8
(ii)Investments 2341.4 3541.2 3290.4 1806.9 1325.3 730.7
3.Inventories 464.6 941.5 1823.8 1069.9 120.3 1022.6
7.Net Current Assets(B4-B5) 775.9 600.9 -475.1 372.3 -913.7 -2800.8
C.Fixed Assets:
4.Total assets (B4+C2) 6187.3 10130.9 11718.8 10909.1 12404.8 11013.7
D.Operation:
1.Gross sales 3983.8 5631.4 6014.0 7006.4 8807.7 5473.2
(i)Local sales 3469.8 5215.6 5299.2 6198.0 6753.8 4258.2
(ii)Export sales 514.0 415.8 714.8 808.4 2053.9 1215.0
2.Cost of Sales 3603.3 5150.0 5747.4 6789.5 8103.6 4983.6
3.Gross profit 380.5 481.4 266.6 216.9 704.1 489.6
7.Net profit before tax (D5-D6) 214.5 179.7 -286.5 909.0 -974.7 -1499.2
8.Tax provision 20.0 28.0 34.7 42.3 21.4 20.6
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 286.2 320.8 -8.0 1171.6 -613.0 -1114.2
5.Return on assets (D7 as % of C4) 3.5 1.8 -2.4 8.3 -7.9 -13.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 9.3 15.6 -12.1 4.7 -2.2 -1.4
15.Return on Equity (D7 as % of A3) 10.7 6.0 -8.5 20.5 -26.6 -68.7
3.Net profit margin (D7 as % of D1) 5.4 3.2 -4.8 13.0 -11.1 -27.4
4.Earning per share before tax (D7/No. of ordinary shares) 5.5 4.6 -4.9 15.7 -14.0 -21.6
419
Sindh Abadgar's Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 16.1 -59.2 -18.8 -55.4 26.0 197.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 28.0 8.5 5.0 18.5 15.0 74.1
(i)Cash 28.0 8.5 5.0 18.5 15.0 74.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 51.7 2.3 2.3 139.6 177.1 6.4
C.Fixed Assets:
4.Total assets (B4+C2) 624.1 535.2 499.2 612.4 786.7 919.7
D.Operation:
1.Gross sales 788.7 595.4 1049.5 867.9 1020.3 1108.8
(i)Local sales 788.7 595.4 1049.5 867.9 776.3 1108.8
(ii)Export sales 0.0 0.0 0.0 0.0 244.0 0.0
2.Cost of Sales 768.4 613.6 939.6 824.4 912.0 995.2
3.Gross profit 20.3 -18.2 109.9 43.5 108.3 113.6
5.Operating profit 37.5 -50.4 76.0 21.5 39.9 -52.1
7.Net profit before tax (D5-D6) 16.8 -66.6 45.1 -12.2 8.3 -86.7
8.Tax provision 4.0 2.8 4.7 3.7 2.4 17.1
2.Retention in business (D7-D8-D9) 12.8 -69.4 30.0 -15.9 5.9 -103.8
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 2.7 -12.4 9.0 -2.0 1.1 -9.4
6.Self financing ratio (E2 as % of E1) 20.2 -232.9 -454.5 12.9 3.3 -89.2
7.Cash flow ratio F1 as % of F2 43.4 -76.2 276.8 -12.5 16.9 -37.5
10.Financial expenses as % of operating profit (D6 as % of D5) 55.2 - 40.7 156.7 79.2 -66.4
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 23.8 - 10.4 -30.3 28.9 -19.7
15.Return on Equity (D7 as % of A3) 14.0 -147.7 52.7 -24.9 6.4 -28.7
3.Net profit margin (D7 as % of D1) 2.1 -11.2 4.3 -1.4 0.8 -7.8
4.Earning per share before tax (D7/No. of ordinary shares) 1.6 -6.4 4.3 -1.2 0.8 -8.3
420
Tandlianwala Sugar Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 222.2 406.9 427.1 574.2 354.7 388.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 108.3 230.4 345.9 60.7 11.2 25.2
(i)Cash 108.3 230.4 345.9 60.7 11.2 25.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 302.1 489.4 1192.4 1921.1 2764.2 2060.2
C.Fixed Assets:
4.Total assets (B4+C2) 1532.1 3477.5 5394.8 7261.9 8811.0 8307.3
D.Operation:
1.Gross sales 1214.1 2462.2 3460.5 2415.2 2694.6 5805.8
(i)Local sales 1214.1 2462.2 3460.5 2415.2 2694.6 5805.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1118.5 2223.9 3068.3 1919.3 2176.4 4749.0
3.Gross profit 95.6 238.3 392.2 495.9 518.2 1056.8
8.Tax provision 5.3 10.8 15.3 10.6 0.0 29.7
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] - - 0.0 0.0 -2364.4 0.0
421
The Frontier Sugar Mills & Distillery Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 204.9 232.6 206.8 174.3 162.8 243.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 152.5 169.0 157.3 130.2 70.4 83.5
(i)Cash 135.0 152.0 140.4 109.9 52.9 68.2
(ii)Investments 17.5 17.0 16.9 20.3 17.5 15.3
3.Inventories 1.2 0.4 4.9 2.1 2.1 2.1
C.Fixed Assets:
4.Total assets (B4+C2) 241.5 263.8 247.6 214.0 193.4 263.6
D.Operation:
1.Gross sales 430.1 201.9 19.7 23.2 0.6 1.3
(i)Local sales 410.7 187.1 19.7 23.2 0.6 1.3
(ii)Export sales 19.4 14.8 0.0 0.0 0.0 0.0
2.Cost of Sales 418.2 178.4 44.3 58.5 15.0 10.4
3.Gross profit 11.9 23.5 -24.6 -35.3 -14.4 -9.1
8.Tax provision 2.1 1.1 0.1 0.1 0.0 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 8.9 31.8 -22.2 -29.3 -8.6 83.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 127.8 -53.1 -90.2 17.8 -97.4 116.7
422
The Premier Sugar Mills & Distillery Co. Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 834.3 962.1 989.0 920.5 954.1 1352.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 377.9 666.8 691.9 545.8 210.2 261.0
(i)Cash 104.1 395.9 466.9 320.8 106.0 112.3
(ii)Investments 273.8 270.9 225.0 225.0 104.2 148.7
3.Inventories 183.3 28.8 75.2 117.8 319.7 209.5
9.Net liquid assets (B1-B5) 243.2 522.2 486.9 434.6 -47.3 -20.4
C.Fixed Assets:
4.Total assets (B4+C2) 1007.4 1144.5 1231.4 1069.1 1249.2 1670.9
D.Operation:
1.Gross sales 917.4 864.6 240.7 276.7 434.8 530.4
(i)Local sales 735.0 566.3 211.4 276.7 434.8 530.4
(ii)Export sales 182.4 298.3 29.3 0.0 0.0 0.0
2.Cost of Sales 909.8 717.3 262.7 394.3 466.5 470.5
3.Gross profit 7.6 147.3 -22.0 -117.6 -31.7 59.9
5.Operating profit -12.8 139.4 52.0 -95.3 5.2 64.7
7.Net profit before tax (D5-D6) -16.1 137.9 48.2 -104.9 -5.5 46.7
8.Tax provision 5.5 6.3 1.8 1.3 0.3 16.2
2.Retention in business (D7-D8-D9) -21.6 131.6 46.4 -106.2 -5.8 19.2
3.Finance from outside the company (E1-E2) -72.9 -4.3 -19.8 37.7 39.4 378.7
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -1.6 12.0 3.9 -9.8 -0.4 2.8
15.Return on Equity (D7 as % of A3) -1.8 13.8 4.7 -10.9 -0.6 3.4
3.Net profit margin (D7 as % of D1) -1.8 15.9 20.0 -37.9 -1.3 8.8
4.Earning per share before tax (D7/No. of ordinary shares) -4.3 36.8 12.9 -28.0 -1.5 12.5
423
The Thal Industries Corporation Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -132.4 121.1 105.3 104.2 197.5 370.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.0 21.5 16.4 53.3 117.8 24.8
(i)Cash 3.0 21.5 16.4 53.3 117.8 24.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 119.3 52.7 230.7 200.6 278.6 696.2
C.Fixed Assets:
4.Total assets (B4+C2) 918.1 1055.1 1177.5 1221.0 2115.6 2973.6
D.Operation:
1.Gross sales 881.3 1592.6 1900.9 1971.0 2434.2 3805.0
(i)Local sales 881.3 1592.6 1900.9 1971.0 2023.4 3805.0
(ii)Export sales 0.0 0.0 0.0 0.0 410.8 0.0
2.Cost of Sales 949.9 1307.0 1787.1 1850.4 2144.6 3145.0
3.Gross profit -68.6 285.6 113.8 120.6 289.6 660.0
8.Tax provision 3.8 6.9 8.4 8.6 4.1 61.2
F.Cash Flow Data
424
Abdullah Shah Ghazi Sugar Mills Ltd.(Al-Asif Sugar Mills Ltd.)
65-Infantry Road, Military Accounts Colony, Lahore
Mr. Muhammad Irshad Butt(Chairman/C.E) MCB Bank Ltd. M/s. Faruq Ali & Co.
Mr. Farrukh Iqbal(Director) Meezan Bank Ltd.
Mrs. Qamur-ul-Nisa(Director) Habib Metropolitan Bank Ltd.
Mr. Riaz Qadeer Butt(Director) United Bank Ltd.
Mr. Fiaz Qadeer Butt(Director) Allied Bank Ltd.
Mr. Azhar Qadeer Butt(Director) Arif Habib Bank Ltd.
Mr. Awais Butt(Director) Bank Al Falah Ltd.
Date of Annual General Meeting 30th January , 2010 Face Value Rs. 10.00
Year Ending : 30th September, 2009 Market Price as on 30/09/2009 Rs. 4.51

Sugarcane crushing M. Tons 306,000 191,744
Adam Sugar Mills Ltd.

Haji Adam Chambers, Altaf Hussain Road, New Challi, Karachi-2
Mr. Ghulam Ahmad Adam(Chairman / C.E.O.) Habib Bank Ltd. M/s. Haroon Zakaria & Co.
Syed Rafique Mohammad Shah(Director) MCB Bank Ltd.
Mr. Abdul Karim(Director) NIB Bank Ltd.
Mr. Jawaid Ahmed(Director)
Lt. Col. (Retd.) Muhammad Mujtaba(Director)
Mr. Junaid G. Adam(Director)
Mr. Omar G. Adam(Director)

Cane crushing M.Tons 640,000 256,030
Sugar M.Tons 23,167 24,835
425
Al-Abbas Sugar Mills Ltd.
2nd Floor, Pardesi House, Survey No.2/1, R.Y. 16, Old Queens Road Karachi-74000.
Mr. Muhammad Iqbal Usman(Chairman) Albaraka Islamic Bank M/s. Hyder Bhimji & Co.
Mr. Shunaid Qureshi(Chief Executive) Bank Alfalah Ltd.
Mr. Munawar Alam Siddiqui(Director) Habib Bank Ltd.
Mr. Muhammad Salman Husain Chawala(Directo MCB Bank Ltd.
Mr. Suleman Lalani(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Duraid Qurashi(Director) Allied Bank Ltd.
Mr. Asim Ghani(Director) United Bank Ltd.

Sugar M. Tons 73,862 52,850
Distillery M. Tons 31,150 30,123
Al-Noor Sugar Mills Ltd.

Plot No. 96-A, Sindhi Muslim Housing Society, Karachi
Mr. Ismail H. Zakaria(Chairman/M.D.) Habib Bank Ltd. M/s. M.Yousaf Adil Saleem & Co.
Mr. Suleman Ayoob(Director) MCB Bank Ltd.
Mr. Yusuf Ayoob(Director) Pak Kuwait Investment Company (Pvt.) Ltd.
Mr. A. Aziz Ayoob(Director) Pakistan Industrial Credit & Investment Corp. Ltd.
Mr. Muhammad Asif (NIT)(Director) Saudi Pak Industrial & Agriculture Investment Co
Mr. Shamim Ahmed (NIT)(Director)
Mr. Zia I. Zakaria(Director)

Sugar M. Tons 71,400 66,495
Board Cubic Meters 40,260 40,325
426
Ansari Sugar Mills Ltd.
41-K, Block-6, P.E.C.H.S., Karachi
Dr. Dinshaw Hoshang Ankelsaria(Chairman / C.E Allied Bank Of Pakistan Ltd. M/s Khalid Majid Rahman Sarfaraz Rahim Iqbal R
Mr. Ahmed Khan Ansari(Director) Habib Bank Ltd.
Mr. Abdul Hafeez Ansari(Director) MCB Bank Ltd.
Mrs. Nasreen Ghani Ansari(Director) National Bank Of Pakistan
Mr. Imran Rasheed Ansari(Director)
Syed Anwar Raza Naqvi(Director)
Mr. S. M. Ahsan Raza (NIT)(Director)
Date of Annual General Meeting 29th December , 2009 Face Value Rs. 10.00

Sugar M.Tons 86,400 55,963
Baba Farid Sugar Mills Ltd.

1st Floor, Panorama Centre, Raja Ghazanfar Ali Khan Road, Saddar, Karachi
Mr. Kaiser Mahmood Fecto(Chairman / C.E.O.) Bank Of Punjab M/s. Hyder Bhimji & Co.
Mr. Munawar Ali Fecto(Director) NIB Bank Ltd.
Mr. Imran Azim(Director) MCB Bank Ltd.
Mr. Fazalur Rehman(Director) My Bank Ltd.
Mrs. Abida Bano(Director)
Mr. Moin A. Haroon(Director)
Mr. James R. Richards(Director)

Sugar M.Tons 27,200 17,306
427
Bawany Sugar Mills Ltd.
7th Floor, Block ' A', Finance & Trade Centre, Off. Shahra - e - Faisal, Karachi.
Mr. Pervez Ahmed Khan(Chairman / C.E.O.) Habib Bank Ltd. M/s. Faruq Ali & Co.
Dewan Muhammad Masood Farooqui(Director) Habib Metropolitan Bank Ltd.
Mr. Muhammad Aslam Khan(Director) National Bank Of Pakistan
Mr. Muhammad Ilyas A. Sattar(Director) Habib Bank Ltd.
Mr. Muhammad Baqir Jafferi(Director)
Mr. Khalid Hayat Khan(Director)
Mr. Qamar-uz-Zaman(Director)

Sugarcanr crushed M.Tons 630,000 134,539
Chashma Sugar Mills Ltd.

Banglow No. 16, PSM Colony, Nowshera Road, Mardan
Mr. Khan Aziz Sarfaraz Khan(Chairman / C.E.O. Bank Alfalah Ltd. M/s. Hameed Chaudhri & Co.
Mr. Abbas Sarfaraz Khan(Director) Bank Al-Habib Ltd.
Begum Laila Sarfaraz(Director) Habib Bank Ltd.
Mr. Babar Ali Khan(Director) MCB Bank Ltd.
Ms. Zarmine Sarfaraz(Director) National Bank Of Pakistan
Mr. Iskandar M. Khan(Director) Silk Bank Ltd.
Ms. Najda Sarfaraz(Director) The Bank Of Khyber

Sugarcane crushed M.Tons 2,700,000 1,050,807
Sugar M.Tons 100,000 85,234
428
Colony Sugar Mills Ltd.
Ismail Aiwan-e-Science Building, 205-Ferozepur Road, Lahore.
Mr. Naveed M. Sheikh(Chairman) National Bank of Pakistan M/s. Naveed Zafar Husain Jaffery & Co.
Mr. Faqir Hussain Khan(Chief Executive) Emirates Globale Islamic Bank
Mian Muhammad Ali(Director) Faysal Bank Ltd.
Mr. Muhammad Asghar(Director) KASB Bank Ltd.
Mr. Ahmed Haji Mussa(Director) The Bank Of Punjab
Mr. Asad Ali(Director)
Ms. Samina Gul(DirectorM/s.)

Sugar M.Tons 688,030 64,736
Ethanol Liters 41,625,000 13,522,468
Crescent Sugar Mills And Distillery Ltd.

New Lahore Road, Nishatabad, Faisalabad.
Mr. Mazhar Karim(Chairman) Habib Metropolitan Bank Limted M/S Riaz Ahmad & Co.
Mr. Muhammad Arshad(Chief Executive) National Bank Of Pakistan
Mr.Abid Mahmood(Director) MCB Bank Ltd.
Mr. Khalid Bashir(Director) United Bank Ltd.
Mr. Muhammad Anwar(Director)
Mr. Salman Rafi(Director)
Mr. Jamal Nasim (NIT)(Director)

Sugar M. Tons 24,800 14,403
Distillery Liters 2,727,000 271,557
Spinning Kgs. 20,385,786 13,438,156
429
Dewan Sugar Mills Ltd.
7th Floor, Block- 'A', Finance & Trade Centre, Shahra-e- Faisal, Karachi.
Dewan Muhammad Yosuf Faqooqui(Chairman / National Bank Of Pakistan M/s Feroze Sharif Tariq & Co.
Dewan Abdur Rehman Farooqui(Managing Direc My Bank Ltd.
Dewan Asim Mushfiq Farooqui(Director) Habib Bank Ltd.
Dewan Abdullah Ahmed(Director) Meezan Bank Ltd.
Dewan Abdul Baqi Farooqui(Director) MCB Bank Ltd.
Mr. Harron Iqbal(Director) NIB Bank Ltd.
Mr. Azizul Haque(Director) The Bank Of Punjab

Sugarcan Crushed M. Tons 1280835 124,543
Sugar M. Tons 100,000 85,137
Faran Sugar Mills Ltd.

Bank House No.1, 3rd Floor Habib Square, M.A.Jinnah Road, Karachi.
Mr. Mohammad Amin Ahmed Bawany(Chairman United Bank Limited M/s. Rahman Sarfaraz Rahim Iqbal Rafiq
Mr. Muhammad Omer Amin Bawany(Vice ChairmHabib Metropolitan Bank Limted
Mr. Ahmed Ali Mohammed Amin(Chief Executive MCB Bank Ltd.
Mr. Iqbal A. Rehman(Director) Bank Al-Habib Ltd.
Mr. Abdul Wahid A Ghaffar(Director) Habib Bank Ltd.
Mr. A. Wahid Jalilwala(Director) Bank Al-Falah Ltd.
Mr. Muhammad Asif (NIT)(Director) Al baraka Islamic Bank

Crushing of sugarcane M. Tons 1,440,000 685,778
Sugar M. Tons Indeterminable 63,473
430
Fecto Sugar Mills Ltd.
1st Floor, Panorama Centre-2, Raja Ghazanfar Ali Khan Road, Saddar, Karachi.
Mr. Munawar Ali Fecto(Chief Executive) MCB Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafique.
Mr. Kaiser Mahmood Fecto(Deputy C.E.O.) Bank Of Khyber
Mr. James R. Richards(Director) NIB Bank Ltd.
Mr. Moin A. Haroon(Director) My Bank Ltd.
Mr. Imran Azim(Director)
Mrs. Abida Bano(Director)
Mr. Fazalur Rehman(Director)

Sugar M. Tons 48,000 32,940
Habib - ADM Ltd.( Habib Arkady LTD.)

2nd Floor, UBL Building, I.I.Chundrigar Road, Karachi.
Mr. Gaffar A. Habib(Chairman) Citibank N.A. M/s. Hyder Bhimji & Company
Mr. Ovais G. Habib(Managing Director) National Bank of Pakistan
Mr. Yusaf A. Habib(Director) Bank Al-Habib Ltd.
Mr. Tufail Y. Habib(Director)
Mr. Kenneth Denis Hayes(Director)
Ms. Fatemah G. Habib(Director)
Dr. Salma Habib(Director)

High Fructose Syrup Metric tons 45,000 21,037
431
Habib Sugar Mills Ltd.
Imperial Court, 4th Floor, Dr. Ziauddin Ahmed Road, Karachi-75530
Mr. Asghar D. Habib(Chairman) Allied Bank of Pakistan Ltd. M/s. Emst & Young Ford Rhodes Sidat Hyder & C
Mr. Raeesul Hasan(Chief Executive) Bank Al Habib Ltd.
Mr. Ali Raza D. Habib(Director) Citibank N.A.
Mr. Muhammad Nawaz Tishna(Director) Habib Metropolitan Bank Limted
Mr. Murtaza H. Habib(Director) Habib Bank Ltd.
Mr. Farouq Habib Rahimtoola(Director) First Women Bank Ltd.
Mr. Amin Ali Abdul Hamid(Director) Meezan Bank Ltd.

Cane crushing M. Tons 840,000 780,578
Sugar Distillery M. Tons 34,000 21,739
Textile production Kgs. 300,000 534,526
Haseeb Waqas Sugar Mills Ltd.

6-F, Model Town, Lahore
Brig. (R) Muhammad Akram(Chief Executive) NIB Bank Ltd. M/s. Qadeer & Company
Mrs. Zainab Waqas() MCB Bank Ltd.
Mr. Iqbal Latif(Director) National Bank Of Pakistan
Hafiz M. Irfan Hussain Butt(Director) The Bank Of Punjab
Mr. Sohail Ahmed Butt(Director) United Bank Ltd.
Miss. Zakia Ilyas(Director)
Mr. Raza Mustafa(Director)

Sugarcane crushed M. Tons 784.000 162.503
Sugar M. Tons 59,584 12,270
432
Husein Sugar Mills Ltd.
30-A E/1, Old FCC, Gulberg-III, Lahore
Mst. Nusrat Shamim(Chairperson / CEO.) Allied Bank Of Pakistan Ltd. M/S Riaz Ahmad & Co.
Mr. Ahmed Ali Tariq(Director) Bank Alfalah Ltd.
Mr. Sajjad Aslam(Director) Habib Bank Ltd.
Mian Shahzad Aslam(Director) MCB Bank Ltd.
Mian Farrukh Naseem(Director) National Bank Of Pakistan
Mian Aamir Naseem(Director) Bank Of Punjab
Mst. Shirin Abid(Director) United Bank Ltd.

JDW Sugar Mills Ltd.

17-Abid Majeed Road, Lahore Cantt., Lahore.
Syed Ahmed Mahmud(Chairman) Allied Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Jahangir Khan Tareen(Chief Executive) National Bank of Pakistan
Mr. Asim Nisar Bajwa(Director) Habib Bank Ltd.
Mr. Ijaz Ahmed Phulpoto(Director) MCB Bank Ltd.
Mr. Muhammad Ismail(Director) The Bank Of Punjab
Mr. Imtiaz Ali(Director) United Bank Ltd.
Mr. Abdul Ghaffar(Director) Standard Chartered Bank ( Pakistan) Ltd.

Crushing of sugarcane Metric tons 3,360,000 2,084,228
sugar Metric tons 150,000 233,012
433
Khairpur Sugar Mills Ltd.
Khairpur House, G-22/II, Gizri Avenue, Defence Housing Authority, Phase IV, Karachi.
Mr. Muhammad Mubeen Jumani(Chairman / C.E Allied Bank Of Pakistan Ltd. M/s Haroon Zakaria & Company
Mr. Faisal Mubeen Jumani(Director) Bankers Equity Ltd.
Mr. Muhammad Bux Jumani(Director) MCB Bank Ltd.
Mrs. Qamer Mubeen Jumani(Director) NIB Bank Ltd.
Mr. Ahmed Ali Jumani(Chairman) United Bank Ltd.
Mr. Fahad Mubeen Jumani(Director)
Mr. Faraz Mubeen Jumani(Director)

Sugarcane crushing M.Tons 640,000 352,960
Kohinoor Sugar Mills Ltd.

Plot No. 29-G, Gulberg-III, Lahore.
Mr. M. Farooque Saigol(Chief Executive) Faysal Bank Ltd. M/s.UHY Hassan Naeem & Co.
Mr. M. Usman Saigol(Director) Habib Bank Ltd.
Mr. M. Saleem Saigol(Director) MCB Bank Ltd.
Mr. Zahid Sultan Sheikh(Director)
Mr. Khwaja Khurshid Anwar(Director)
Mr. Tariq Rehman(Director)
Mr. Firasat Ali (NIT)(Director)

Sugar M.Tons 20,322 29,163
434
Mehran Sugar Mills Ltd.
Adamjee House, 8th Floor, I.I.Chundrigar Road, Karachi.
Mr. Mohammed Kasim Hasham(Chairman) MCB Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Mohammed Ebrahim Hasham(Chief Executiv Bank Alflah Limited
Mr. Mohammed Hussain Hasham(Director) Bank Al Habib Ltd.
Mr. Khurram Kasim(Director) Al Baraka Islamic Bank
Mr. Ahmed Ebrahim Hasham(Director)
Mr. Abdul Razzaq Usman(Director)
Mr. Mohammad Iqbal(Director)

sugar M. Tons 70,000 47,690
Mirpurkhas Sugar Mills Ltd.

Modern Motors House, Beaumont Road, Karachi-75530
Mr. Mahmood Faruque(Chairman) NIB Bank Ltd. M/s. Hyder Bhimji & Co.
Mr. Aslam Faruque(Chief Executive) Habib Bank Ltd.
Mr. Mohammed Faruque(Director) MCB Bank Ltd.
Mr. Akbarali Pesnani(Director) Allied Bank Ltd.
Mr. Tariq Faruque(Director) United Bank Ltd.
Mr. Arif Faruque(Director) Bank Al-Habib Ltd.
Mr. Maqbool H. Rahimtoola (NIT)(Director) Natioanl Bank of Paksitan

Crushing of sugarcane M.Tons 517,500 435,690
Sugar M.Tons 60,000 46,235
435
Mirza Sugar Mills Ltd.
10th Floor, Portion B. Lakson Square Building No.1, Sarwar Shaheed Road, Karachi.
Dr. (Mrs.) Fehmida Mirza(Chairperson / CEO.) Habib Bank Ltd. Allied Bank Of Pakistan Ltd.
Dr. Zulfiqar Ali Mirza(Director) MCB Bank Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafiq & Co.
Mr. Arshad Abid Abbasi(Director) National Bank Of Pakistan
Ms. Fareha Abid Kazi(Director) NIB Bank Ltd.
Ms. Farida Abbasi(Director)
Mirza Saulat Raza(Director)
Mr. Irshad Hussain Mirza(Director)

Sugar M.Tons 62,640 18,000
Noon Sugar Mills Ltd.

1st Floor, Alfalah Building, Shahrah-e-Quaid-e-Azam Lahore.
Mr. Manzoor Hayat Noon(Chairman / C.E.O.) Allied Bank Limited M/s. Hamid Chaudhri & Co.
Mr. K. Iqbal Talib(Director) MCB Bank Ltd.
Mr. Salman Hayat Noon(Director) United Bank Ltd.
Mr. Javed Ali Khan(Director) Habib Bank Ltd.
Mr. Zaheer Ahmad Khan(Director)
Mr. Safdar M. Hayat Qureshi(Director)
Mr. Adnan Hayat Noon(Director)

Distillery Th. Liters 10,800 7,350
Cane crushing M.Tons 1,280,000 358,130
Sugar M.Tons 1,280,000 30,965
436
Pangrio Sugar Mills Ltd.
10th Floor, Building No.1, Lakson Square, Sarwar Shaheed Road, Karachi.
Mr. Aftab Ahmad(Chairman / C.E.O.) Allied Bank Ltd. M/s. Aslam Malik & Co.
Begum Akhtar Abid(Director) Bankers Equity Ltd.
Ms. Naheed Zafar Mirza(Director) Samba Bank Limited
Mr. Abbas Ally Agha(Director) Habib Bank Ltd.
Mr. Ali Ghazi Mirza(Director) MCB Bank Ltd.
Mr. Abdullah Kamran Soomro(Director) National Bank Of Pakistan
Mr. Asif Saeed(Director) United Bank Ltd.

Sugar M.Tons 42,600 11,950
Sakrand Sugar Mills Ltd.

41-K, Block-6, P.E.C.H.S., Karachi.
Mr. Dinshaw H. Anklesaria(Chairman / C.E.O.) Habib Bank Ltd. M/s. Rahman Sarfaraz Rahim iqbal Rafiq
Mr. Jamil Akbari(Director) MCB Bank Ltd.
Syed Abid Hussain(Director) National Bank Of Pakistan
Mr. Abdul Naeem Quraishi(Director)
Mr. Neville Mehta(Director)
Mrs. Fatma Gulamali(Director)
Mrs. Roxanne Mehta(Director)

437
Saleem Sugar Mills Ltd.
Amin Building, 65-The Mall, Lahore.
Mr. Mujib Ur Rehman(Chairman) Allied Bank Ltd. M/s. Hyder Bhimji & Co.
Mr. Faisal Saleem(Chief Executive)
Mr. Masood Ur Rehman(Director)
Mr. Ghulam Shah(Director)
Mr. Muhammad Azeem(Director)
Mr. Pazeer Ahmad(Director)
Mr. Mehmood Shah(Director)
Date of Annual General Meeting 31st January , 2010 Face Value Rs. 10.00

Cane Crushing M.Tons (Per day) 2,200 -
Beet Slicing M.Tons (Per day) 1,470 -
Cattle Feed Production M.Tons (Per day) 30 -
Sanghar Sugar Mills Ltd.

101- 1st Floor, Ocean Centre, Talpur Road, Karachi.
Haji Khuda Bux Rajar(Chairman / C.E.O.) Habib Bank Ltd. M/s. Hyder Bhimji & Co.
Jam Mitha Khan(Director) Allied Bank Of Pakistan Ltd.
Mr. Mohammad Aslam(Director) Askari Bank Ltd.
Mr. Ghulam Dastagir Rajar(Director) MCB Bank Ltd.
Qazi Shamsuddin(Director) National Bank Of Pakistan
Mr. Gul Muhammad(Director) NIB Bank Ltd.
Mr. Rana Ahmed Khan (NIT)(Director)

Sugar M.Tons 65,302 57,308
Sugarcane crushing M.Tons 1,092,000 597,111
438
Shahmurad Sugar Mills Ltd.
96-A, Sindhi Muslim Society, Karachi-74400.
Mr. Ismail H. Zakaria(Chairman) Habib Bank Ltd. M/s. Hyder Bhimji & Co.
Mr. Yusaf Ayoob(Chief Executive) MCB Bank Ltd.
Mr. Suleman Ayoob(Director) National Bank Of Pakistan
Mr. A. Aziz Ayoob(Director) Saudi Pak Industrial & Agriculture Investment Co
Mr. Zia I. Zakaria(Director)
Mr. Ghulam Mohiuddin Zakaria(Director)
Mr. Zohair Zakaria(Director)

Sugar M.Tons 79,800 47,690
Ethanol M.Tons 33,000 20,997
Shahtaj Sugar Mills Ltd.

19-Dockyard Road, West Wharf, Karachi-74000
Mr. Mahmood Nawaz(Chairman) Habib Bank Ltd. M/s. Ford, Rhodes, Sidat Hyder & Co.
Mr. Muneer Nawaz(Chief Executive) MCB Bank Ltd.
Mr. Cowasjee R.F Cowasjee(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Ardeshir Cowasjee(Director) United Bank Ltd.
Mr. C.M. Khalid(Director)
Mr. M. Naeem(Director)
Mr. Ijaz Ahmed(Director)

Sugar M.Tons 108,800 65,089
439
Shakarganj Mills Ltd.
BOP Tower, 10-B, Block E-2, Gulberg III, Lahore.
Mr. Mazhar Karim(Chairman) Allied Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Ahsan M. Salim(Chief Executive) National Bank Of Pakistan
Mr. Kaleem Uddeen Ahmad(Director) MCB Bank Ltd.
Mr. Khalid Bashir(Director) Bank of Punjab Ltd.
Mr. Muhammad Anwar(Director) United Bank Limited
Mr. Muhammad Arshad(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Muhammad Asif(Director) Askari Bank Ltd.

Cane crushing M. Tons 1,858,000 784,056
Ethanol (distillery) Thousand Liters 68,580 33,320
Building material (Particle board) Cubic Meter 1,830 1,643
Sindh Abadgar's Sugar Mills Ltd.

209, 2nd Floor, Progressive Plaza, Beaumont Road, Karachi.
Mr. Deoo Mall Essarani(Chairman / C.E.O.) Askari Bank Ltd. M/s Khalid Majid Rahman Sarfaraz Rahim Iqbal R
Mr. Dhaloo Mal(Director) Allied Bank Ltd.
Mr. Pehlaj Raj(Director) MCB Bank Ltd.
Mr. Mohan Lal(Director) Bank Al-Falah Ltd.
Dr. Besham Kumar(Director) KASB Bank Ltd.
Dr. Tara Chand(Director)
Mr. Mahesh Kumar(Director)

sugar M.Tons 63,840 25,000
440
Tandlianwala Sugar Mills Ltd.
Plot No. 32-N, Gulberg-II, Lahore.
Mr. Akbar Khan(Chairman) Allied Bank Of Pakistan Ltd. KPMG Taseer Hadi & Co.
Mr. Haroon Khan(Chief Executive) Bank Alfalah Ltd.
Mr. Ghazi Khan(Director) The Bank Of Punjab
Mrs. Rasheeda Begum(Director) MCB Bank Limited
Mrs. Mobina Akbar Khan(Director) National Bank Of Pakistan
Mrs. Nazli Rafat Jamal(Director) United Bank Ltd.
Mr. Hameed Ullah Khan Paracha(Director)

Crushing of sugar cane M. Tons 2,880,000 1306281
Sugar M. Tons 150,000 118231
Distillery Plant Liters 6,500,000 5,873,192
The Frontier Sugar Mills & Distillery Ltd.

Nowshera Road, Mardan, Kyber Pakhtunkhua
Begum Laila Sarfaraz(Chairperson / CEO.) Allied Bank Of Pakistan Ltd. M/s. Hameed Chaudhri & Co.
Khan Aziz Sarfaraz Khan(Director) Bank Alfalah Ltd.
Mr. Babar Ali Khan(Director) Habib Bank Ltd.
Ms. Zarmine Sarfaraz(Director) MCB Bank Ltd.
Ms. Najda Sarfaraz(Director) National Bank Of Pakistan
Mr. Abbas Sarfaraz Khan(Director) The Bank Of Khyber
Mr. Iskandar M. Khan(Director) United Bank Ltd.

Sugar cane- crushing M.Tons 30,000 Nil
Sugar M.Tons 2,000 Nil
441
The Premier Sugar Mills & Distillery Co. Ltd.
Mardan, Khyber Pakhtunkhuh (N.W.F.P)
Mr. Khan Aziz Sarfaraz Khan(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hameed Chaudhri & Co.
Mr. Abbas Sarfaraz Khan(Chief Executive) Bank Alfalah Ltd.
Ms. Mahnaz Saigol(Director) Habib Bank Ltd.
Begum Laila Sarfaraz(Director) United Bank Ltd.
Ms.Zarmine Sarfaraz(Director) MCB Bank Ltd
Mr. Iskandar M. Khan(Director) National Bank Of Pakistan
Ms. Najda Sarfaraz(Director) Faysal Bank Ltd.

Sugar cane- crushing M. Tons 750,400 88,613
Sugar M. Tons 100,000 8153
Distillery Gallons 1,500,000 189,526
The Thal Industries Corporation Ltd.

23-Pir Khurshid Colony, Gulgasht, Multan.
Mr. Muhammad Shamim Khan(Chairman/ C.E.) Allied Bank Of Pakistan Ltd. M/s. Rehman Sarfaraz Rahim Iqbal Rafique.
Mr. Nauman Ahmad Khan(Managing Director) Bank Al-Habib Ltd.
Mrs. Qaiser Shamim Khan(Director) Habib Bank Ltd.
Mr. Adnan Ahmad Khan(Director) MCB Bank Ltd.
Mrs. Farrah Khan(Director) United Bank Ltd.
Mr. Muhammad Khan(Director) JS Bank Ltd.
Mr. Ahmad Khan(Director) Samba Bank Ltd.

Crushing of sugarcane Metric Tons 1,422,000 1,142,669
442
Paper & Board Sector
Paper And Board Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 7565.0 11343.2 17821.4 22645.9 20788.9 25312.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1986.7 3497.7 6530.4 10747.8 9204.8 9302.8
(i)Cash 492.9 2316.9 377.7 347.2 403.6 956.4
(ii)Investments 1493.8 1180.8 6152.7 10400.6 8801.2 8346.4
3.Inventories 2407.9 2506.5 2876.5 3760.6 6818.2 6842.1
9.Net liquid assets (B1-B5) -3056.8 -1778.4 1174.2 3232.4 -4751.2 -2020.7
C.Fixed Assets:
4.Total assets (B4+C2) 14557.5 20226.5 31644.1 48191.6 54874.7 56021.6
D.Operation:
1.Gross sales 14153.7 16349.0 16792.7 19516.8 23603.2 25517.1
(i)Local sales 13940.6 16162.4 16602.6 19318.0 22993.3 24759.5
(ii)Export sales 213.1 186.6 190.1 198.8 609.9 757.6
2.Cost of Sales 11551.2 13553.1 14090.6 16906.3 21577.6 24566.7
3.Gross profit 2602.5 2795.9 2702.1 2610.5 2025.6 950.4
8.Tax provision 497.1 642.9 349.9 294.6 215.9 216.9
F.Cash Flow Data
445
Paper & Board

300
250
200
%
150
100
50
0
2004 2005 2006 2007 2008 2009

Baluchistan Particle Board Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -44.7 -45.0 -44.8 -44.3 -43.7 -43.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.2 2.0 1.5 2.7 2.3 3.2
(i)Cash 1.2 2.0 1.5 2.7 2.3 3.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 12.1 13.5 12.5 13.1 12.2 12.7
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
7.Net profit before tax (D5-D6) -1.6 -0.2 0.2 0.6 0.7 0.8
8.Tax provision 0.0 0.0 0.0 0.1 0.1 0.2
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -66.7 -200.0 100.0 0.0 50.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 - - - - -
447
Central Forest Products Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -35.3 -41.4 -47.3 -49.3 -50.8 -46.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.5 2.6 1.2 1.3 0.2 0.1
(i)Cash 3.5 2.6 1.2 1.3 0.2 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 203.3 213.4 222.5 230.3 236.9 243.6
C.Fixed Assets:
4.Total assets (B4+C2) 294.1 298.6 304.5 307.3 308.3 310.2
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 6.9
(i)Local sales 0.0 0.0 0.0 0.0 0.0 6.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 5.1
3.Gross profit 0.0 0.0 0.0 0.0 0.0 1.8
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -2.8 -1.7 -0.7 2.8 3.1 8.4
10.Financial expenses as % of operating profit (D6 as % of D5) - - -206.3 -10.5 0.0 0.0
448
Century Paper & Board Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 800.2 1161.7 2178.2 2255.4 2200.2 1121.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 124.6 31.2 187.4 21.8 16.5 406.9
(i)Cash 24.6 31.2 21.8 21.8 16.5 406.9
(ii)Investments 100.0 0.0 165.6 0.0 0.0 0.0
3.Inventories 262.4 335.1 424.9 455.9 1496.5 1357.5
C.Fixed Assets:
4.Total assets (B4+C2) 2265.2 2843.7 4438.3 9630.9 13376.9 13727.5
D.Operation:
1.Gross sales 3013.5 3452.8 3843.9 4415.5 5036.3 7152.1
(i)Local sales 3013.5 3452.8 3843.9 4415.5 5036.3 7152.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2586.7 2961.0 3385.3 4109.9 4717.9 7226.4
3.Gross profit 426.8 491.8 458.6 305.6 318.4 -74.3
8.Tax provision 100.1 114.5 17.1 38.6 23.9 0.4
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 20.8 23.4 2.7 0.7 -247.2
449
Cherat Papersack Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 234.4 248.8 245.1 315.8 354.1 286.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 98.4 84.1 83.6 70.2 60.3 63.4
(i)Cash 71.4 53.0 39.2 20.0 9.8 7.9
(ii)Investments 27.0 31.1 44.4 50.2 50.5 55.5
3.Inventories 173.0 198.0 297.1 513.1 973.5 700.7
C.Fixed Assets:
4.Total assets (B4+C2) 402.8 587.7 699.4 870.3 1541.0 1515.5
D.Operation:
1.Gross sales 657.0 820.7 914.4 1351.0 2146.8 2060.6
(i)Local sales 657.0 818.9 906.1 1344.3 2139.9 2060.6
(ii)Export sales 0.0 1.8 8.3 6.7 6.9 0.0
2.Cost of Sales 575.9 744.7 874.9 1187.9 1968.7 1919.2
3.Gross profit 81.1 76.0 39.5 163.1 178.1 141.4
8.Tax provision 20.4 14.9 4.0 13.9 23.9 0.0
F.Cash Flow Data
450
Dadabhoy Sack Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2.8 5.4 20.2 21.9 8.7 1.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.1 0.7 0.8 0.3 0.3 0.3
(i)Cash 0.1 0.7 0.8 0.3 0.3 0.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.9 4.0 11.0 4.8 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 60.5 61.3 92.8 93.0 82.6 70.4
D.Operation:
1.Gross sales 102.9 100.3 96.8 69.4 47.5 3.8
(i)Local sales 102.9 100.3 96.8 69.4 47.5 3.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 81.0 86.8 77.8 54.7 50.2 3.4
3.Gross profit 21.9 13.5 19.0 14.7 -2.7 0.4
8.Tax provision 0.6 0.7 1.3 0.7 0.2 0.0
F.Cash Flow Data
451
Merit Packaging Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 53.8 176.5 194.4 211.7 205.1 203.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.7 0.3 0.2 0.3 0.7 0.6
(i)Cash 0.7 0.3 0.2 0.3 0.7 0.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 28.6 58.9 56.7 61.7 110.7 111.2
C.Fixed Assets:
4.Total assets (B4+C2) 146.5 484.4 509.4 541.5 839.3 977.7
D.Operation:
1.Gross sales 400.2 526.1 606.6 673.6 652.2 808.8
(i)Local sales 400.2 526.1 606.6 673.6 652.2 808.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 347.0 463.0 516.4 568.8 588.7 766.1
3.Gross profit 53.2 63.1 90.2 104.8 63.5 42.7
8.Tax provision 8.5 2.3 2.6 11.4 2.8 0.5
F.Cash Flow Data
452
Packages Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 4393.9 7048.0 12971.5 17436.6 15428.6 20967.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1349.7 2729.0 5882.4 10181.3 8561.7 8610.4
(i)Cash 147.4 2020.0 106.7 101.0 199.2 455.7
(ii)Investments 1202.3 709.0 5775.7 10080.3 8362.5 8154.7
3.Inventories 1364.7 1144.0 1647.2 2206.2 3652.3 4102.4
C.Fixed Assets:
4.Total assets (B4+C2) 7636.5 11615.1 22671.0 33438.1 35034.4 35607.8
D.Operation:
1.Gross sales 6893.0 8163.0 9998.6 11686.4 14300.9 14043.9
(i)Local sales 6804.9 8061.9 9816.8 11494.3 13697.8 13286.3
(ii)Export sales 88.1 101.1 181.8 192.1 603.1 757.6
2.Cost of Sales 5584.4 6810.1 8428.9 10180.6 13357.6 13736.5
3.Gross profit 1308.6 1352.9 1569.7 1505.8 943.3 307.4
8.Tax provision 302.0 348.6 198.1 94.8 10.0 83.0
F.Cash Flow Data
453
Pakistan Paper Products Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 42.1 215.4 230.5 245.7 252.0 263.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 13.9 22.3 21.0 20.9 16.5 12.4
(i)Cash 13.9 22.3 21.0 20.9 16.5 12.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 30.3 36.3 47.1 60.3 75.0 65.3
C.Fixed Assets:
4.Total assets (B4+C2) 98.1 271.9 289.6 335.0 351.4 352.4
D.Operation:
1.Gross sales 158.4 173.5 227.7 222.0 241.7 312.0
(i)Local sales 158.4 173.5 227.7 222.0 241.7 312.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 119.5 124.6 161.9 160.6 183.2 241.2
3.Gross profit 38.9 48.9 65.8 61.4 58.5 70.8
8.Tax provision 7.8 12.0 16.9 0.0 14.8 14.8
F.Cash Flow Data
454
Security Papers Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1509.0 1798.9 2083.3 2262.0 2444.6 2558.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 119.3 509.2 352.1 449.1 546.4 205.6
(i)Cash 119.3 155.0 185.1 179.0 158.1 69.4
(ii)Investments 0.0 354.2 167.0 270.1 388.3 136.2
3.Inventories 84.9 143.5 169.9 228.3 273.4 261.4
9.Net liquid assets (B1-B5) -87.5 336.4 163.0 168.6 144.4 -265.3
C.Fixed Assets:
4.Total assets (B4+C2) 1935.7 2191.5 2492.0 2828.3 3194.5 3447.5
D.Operation:
1.Gross sales 882.2 1127.0 1104.7 1099.0 1177.9 1129.1
(i)Local sales 882.2 1127.0 1104.7 1099.0 1177.9 1129.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 429.2 633.7 645.3 643.8 711.4 668.8
3.Gross profit 453.0 493.3 459.4 455.2 466.5 460.3
8.Tax provision 36.8 130.2 109.9 135.2 140.1 118.0
F.Cash Flow Data
455
Baluchistan Particle Board Ltd.
Imperial Court, 3rd Floor, Dr. Ziauddin Ahmed Road, Karachi-75530.
Mr. Muslim R. Habib(Chairman / C.E.O.) Bank Al-Habib Ltd. M/s. Hyder Bhimji & Co.
Mr. Murtaza H. Habib(Director) Habib Bank Ltd.
Mr. Imran A. Habib(Director)
Mr. Mansoob A. Akhtar(Director)
Mr. Raza Abbas Jaffery(Director)
Mr. Ghulam Abbas Karjatwala(Director)
Mr. Ali A. Rahim(Director)

Urea formaldehyde M.Tons 4,000 Nil
Formaldehyde M.Tons 3,000 Nil
Central Forest Products Ltd.

Central Chambers, Ireland Road, Karachi.
Mr. Abdul Aziz H. Yaqoob(Chairman / C.E.O.) Bank Alfalah Ltd. M/S Abdan & Co.
Mr. Aamir Aziz(Director) My Bank Ltd.
Mr. Muhammad Sharif H. Yaqoob(Director) National Bank Of Pakistan
Mrs. Qamarunnisa Aziz(Director) MCB Bank Ltd.
Mrs. Farhana Zain(Director)
Mrs. Saira Adam(Director)
Mrs. Fauzia Adnan(Director)

Plywood Sheets Sq. Meters 750,000 106,401
Door & Door Frames No. of doors 150,000 Nil
Sawing of timber Cubic feet 200,000 26,016
456
Century Paper & Board Mills Ltd.
Lakson Square Building - 2, Sarwar Shaheed Road, Karachi-74200
Mr. Iqbal Ali Lakhani(Chairman / C.E.O.) The Royal Bank of Scotland Ltd. M/S BDO Ebrahim & Co.
Mr. Tasleemuddin Ahmed Batlay(Director) Allied Bank Ltd.
Mr. A.Aziz H. Ebrahim(Director) Braclays Bank Ltd.
Mr. Shahid Ahmed Khan(Director) National Bank Of Pakistan
Mr. Zulfiqar Ali Lakhani(Director) Oman International Bank S.A.O.G.
Mr. Amin Muhammad Lakhani(Director) The Hongkong & Shanghai Banking Corp. Ltd.
Mr. Kamal Shoaib(NIT)(Director) Citi Bank N. A.

Paper & paper board-produced M.Tons 240,000 141,997
Paper & paper board-conversion M.Tons 22,000 17,775
Cherat Papersack Ltd.

1st Floor, Betani Arcade, Jamrud Road, Peshawar.
Mr. Mohammed Faruque(Chairman) Bank Al Habib Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Amer Faruque(Chief Executive) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Saquib H. Shirazi(Director) HSBC Bank Middle East Ltd.
Mr. Akbarali Pesnani(Director) Allied Bank Of Pakistan Ltd.
Mr. Iqbal Faruque(Director) Habib Bank Ltd.
Mr. Mahmood Faruque(Director) MCB Bank Ltd.
Mr. Aslam Faruque(Director) National Bank Of Pakistan

Bags Units in million 265,000 122,439
457
Dadabhoy Sack Ltd.
C-30/II, 24th Commercial Street, Phase-2 (Ext.) D.H.A.Karachi.
Mr. Mohammad Hussain Dadabhoy(Chairman) MCB Bank Ltd. M/s. A.R.Khan & Co.
Mr. Fazal Karim Dadabhoy(Chief Executive) National Bank Of Pakistan
Mr. Mohammad Amin Dadabhoy(Director) Silk Bank Ltd.
Mr. Naseemuddin(Director) Prime Commercial Bank Ltd.
Mrs. Humaira Dadabhoy(Director)
Mrs. Noor Bakht Dadabhoy(Director)
Mrs. Yasmeen Dadabhoy(Director)

Sack & paper products Million bags 26 -
Merit Packaging Ltd.

Mr. Iqbal Ali Lakhani(Chairman) Faysal Bank Ltd. BDO Ebrahim & Co.
Mr. Mohammad Shahid(Chief Executive) Citi Bank N. A.
Mr. Amin Mohammed Lakhani(Director) Habib Bank Ltd.
Mr. A. Aziz H Ebrahim(Director) Oman International Bank S.A.O.G.
Mr. Kaleem Udden Ahmad (NIT)(Director) Deutsche Bank Ltd.
Mr. Muhammad Asif (NIT)(Director) JS Bank Ltd.
Mr. Tasleemuddin Ahmed Batlay(Director) Soneri Bank Ltd.

Paper & paper products not determinable
458
Packages Ltd.
4th Floor, The Forum, Suite No. 416-422, G-20, Block-9, Khyaban-e- Jami, Clifton, Karachi-75600.
Mr. Towfiq Habib Chinoy(Chairman) The Royal Bank of Scotland Limited M/S A. F. Ferguson & Co.
Syed Hyder Ali(M.D. / C.E.O.) Askari Commercial Bank Ltd.
Mr. Khalid Yacob(Director) Dubai Islamic Bank Limited
Syed Aslam Mehdi(Director) Deutsche Bank A.G.
Mr. Shahid Aziz Siddiqui(Director) Faysal Bank Limited
Mr. Mujeeb Rashid(Director) MCB Bank Ltd.
Mr. Matti llmari Naakka(Director) Allied Bank Limited

Paper and paperboard- produced M. Tons 290,360 180,067
Paper and paperboard- converted M. Tons 128,000 120,298
Plastic all sorts-converted M. Tons 19,500 17,000
Pakistan Paper Products Ltd.

Plot No.D-58, Estate Avenue, S.I.T.E., Karachi.
Mr. Hashim Bin Sayeed(Chairman) Habib Bank Ltd. M/s. Haider Shamsi & Co.
Mr. Abid Sayeed(Chief Executive) MCB Bank Ltd.
Dr. Asadullah Sayeed(Director) Bank Al-Habib Ltd.
Mr. Abbas Sayeed(Director)
Mr. Aamir Ameen (NIT)(Director)
Mr. Mohammed Ali Sayeed(Director)
Mrs. Muleika Sayeed(Director)

Exercise book Gross 58,632 54,419
Sensitised paper Rolls 216,000 81,131
Pro- labels Sqr. Meters 1,150,000 1,665,778
459
Security Papers Ltd.
Jinnah Avenue, Malir Halt, Karachi.
Mrs. Naiyer Muzafar Hussain (PSPC)(Chairperso Bank Al-Falah Ltd. M/s. Taseer Hadi & Co.
Ms. Ayla Akin(Director) Bank Al-Habib Limited
Mr. Hasan Irfan(Director) National Bank of Pakistan
Mr. A. Akbar Sharifzada(Director) Faysal Bank Ltd.
Mr. Firasat Ali (NIT)(Director) Standard Chartered Bank Ltd.
Mr. Mehdi Lori Amini (IDRO)(Director) Habib Metorpolitan Bank Ltd.
Mr. Sheikh Mohammad Aijaz Akhtar(Director)
Date of Annual General Meeting 27th August , 2009 Face Value Rs. 10.00

Paper printing Metric tons 2,000 1,890
460
Cement Sector
Cement Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 8024.1 20652.4 39386.4 61220.5 65658.3 60481.1
5.Debentures 3857.7 8377.7 4904.6 5260.8 12796.7 7599.7
B.Liquidity:
1.Liquid Assets: 8996.4 14143.9 25562.2 37773.8 34133.0 21153.6
(i)Cash 3298.3 4349.7 6003.5 5304.4 5629.8 3566.2
(ii)Investments 5698.1 9794.2 19558.7 32469.4 28503.2 17587.4
3.Inventories 2100.6 1774.8 2702.0 4221.7 6259.4 8512.8
C.Fixed Assets:
4.Total assets (B4+C2) 84620.3 121105.4 175945.1 227934.8 264544.2 280796.6
D.Operation:
1.Gross sales 45537.3 60546.0 79237.1 83473.5 111752.2 129758.6
(i)Local sales 44760.2 57803.7 74355.4 75106.3 88896.1 87120.7
(ii)Export sales 777.1 2742.3 4881.7 8367.2 22856.1 42637.9
2.Cost of Sales 36895.0 47984.2 56955.2 73361.5 100879.2 94141.3
3.Gross profit 8642.3 12561.8 22281.9 10112.0 10873.0 35617.3
8.Tax provision 622.2 1055.8 1227.5 316.7 482.5 1247.9
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] 360.2 1120.6 697.6 334.5 -770.2 316.4
463
Cement

150
100
%
50
0
2004 2005 2006 2007 2008 2009

Al-Abbas Cement Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 103.3 2.9 17.0 238.1 -232.8 -111.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.2 14.1 118.1 2.4 9.4 12.4
(i)Cash 1.2 14.1 118.1 2.4 9.4 12.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 225.4 72.9 136.9 144.8 243.3 472.3
C.Fixed Assets:
4.Total assets (B4+C2) 1697.9 1882.6 3818.8 4442.7 5273.9 5923.9
D.Operation:
1.Gross sales 903.1 687.9 1259.0 285.5 1362.7 2982.7
(i)Local sales 903.1 687.9 1172.9 285.5 639.5 930.8
(ii)Export sales 0.0 0.0 86.1 0.0 723.2 2051.9
2.Cost of Sales 844.2 726.9 1232.5 414.7 1247.4 2282.3
3.Gross profit 58.9 -39.0 26.5 -129.2 115.3 700.4
5.Operating profit 46.2 -40.1 -1.6 -152.0 -40.5 309.3
8.Tax provision 0.0 2.4 4.6 1.1 7.2 23.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 88.9 -14.0 -18.5 -100.3 -68.0 40.5
6.Self financing ratio (E2 as % of E1) - -32.9 -3.8 -273.9 -13.6 -55.8
7.Cash flow ratio F1 as % of F2 - -4.8 -0.9 -76.3 -6.4 18.3
10.Financial expenses as % of operating profit (D6 as % of D5) 44.4 - -4587.5 -11.0 -218.0 113.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 0.0 - -6.1 -0.7 -5.6 -54.9
465
Attock Cement Pakistan Ltd (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 586.9 1400.4 2231.6 2674.4 2810.0 4056.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 117.4 173.1 99.4 473.8 299.5 1433.6
(i)Cash 107.7 168.6 94.9 265.8 111.0 871.8
(ii)Investments 9.7 4.5 4.5 208.0 188.5 561.8
3.Inventories 197.3 162.3 167.2 276.4 409.5 613.9
C.Fixed Assets:
4.Total assets (B4+C2) 1850.1 3407.2 4871.6 5785.6 5871.1 6972.8
D.Operation:
1.Gross sales 2665.4 3518.3 4703.8 6237.2 6770.8 8510.1
(i)Local sales 2665.4 3518.3 4703.8 6237.2 6770.8 6020.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 2489.2
2.Cost of Sales 2052.2 2490.7 3038.7 4682.5 5666.4 5801.1
3.Gross profit 613.2 1027.6 1665.1 1554.7 1104.4 2709.0
8.Tax provision 119.1 273.0 487.0 22.8 57.7 595.4
F.Cash Flow Data
466
Bestway Cement Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 745.7 1485.5 2509.0 3406.1 4023.9 4958.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2156.0 3032.2 5404.5 6401.1 5937.8 5750.1
(i)Cash 293.2 605.6 419.6 886.3 348.6 452.2
(ii)Investments 1862.8 2426.6 4984.9 5514.8 5589.2 5297.9
3.Inventories 113.1 93.4 150.3 290.8 729.7 1056.3
C.Fixed Assets:
4.Total assets (B4+C2) 5988.4 9023.9 18018.1 23081.4 25415.5 28222.5
D.Operation:
1.Gross sales 3801.2 4905.9 6131.1 8409.4 10669.6 14814.8
(i)Local sales 3801.2 4905.9 6131.1 8409.4 10669.6 14814.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2730.8 3356.9 3837.6 7396.6 9661.3 10044.5
3.Gross profit 1070.4 1549.0 2293.5 1012.8 1008.3 4770.3
8.Tax provision 22.2 26.9 27.7 4.8 37.5 70.5
F.Cash Flow Data
467
Cherat Cement Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 696.0 1087.6 1281.8 1280.8 1202.3 1306.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 396.3 758.5 557.8 550.1 169.5 175.0
(i)Cash 386.4 750.8 383.5 75.5 65.5 60.7
(ii)Investments 9.9 7.7 174.3 474.6 104.0 114.3
3.Inventories 79.9 88.5 145.2 117.3 207.5 280.6
C.Fixed Assets:
4.Total assets (B4+C2) 2182.0 3202.8 3611.8 3533.4 4382.2 4737.7
D.Operation:
1.Gross sales 2466.8 3205.5 3010.6 3448.8 3881.0 4567.4
(i)Local sales 2466.8 2663.9 2149.4 2639.2 2746.0 3012.3
(ii)Export sales 0.0 541.6 861.2 809.6 1135.0 1555.1
2.Cost of Sales 1751.6 2349.1 2064.9 3071.1 3701.6 3896.6
3.Gross profit 715.2 856.4 945.7 377.7 179.4 670.8
8.Tax provision 147.4 178.4 47.6 77.1 15.1 16.9
F.Cash Flow Data
468
D.G. Khan Cement Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 4427.5 7519.8 17424.3 31387.8 27544.8 17875.9
5.Debentures 199.9 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2858.5 5473.6 13103.2 25224.5 22104.7 11202.3
(i)Cash 84.0 93.8 77.2 116.2 226.4 243.8
(ii)Investments 2774.5 5379.8 13026.0 25108.3 21878.3 10958.5
3.Inventories 298.5 101.0 226.3 295.1 445.9 899.8
C.Fixed Assets:
4.Total assets (B4+C2) 11714.6 18016.5 34304.5 51744.4 51993.0 42723.0
D.Operation:
1.Gross sales 5697.6 7372.2 10955.9 9399.1 17473.5 18038.2
(i)Local sales 5392.4 6730.8 10348.1 8887.3 14732.4 12236.2
(ii)Export sales 305.2 641.4 607.8 511.8 2741.1 5802.0
2.Cost of Sales 4312.1 5423.3 6993.1 7367.1 15537.3 12358.5
3.Gross profit 1385.5 1948.9 3962.8 2032.0 1936.2 5679.7
8.Tax provision 28.7 40.0 40.5 33.0 108.2 128.7
F.Cash Flow Data
469
Dadabhoy Cement Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 753.0 861.1 811.8 1256.1 1215.1 928.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 72.7 97.0 121.0 213.9 12.4 209.7
(i)Cash 21.2 43.9 13.0 4.9 9.3 2.1
(ii)Investments 51.5 53.1 108.0 209.0 3.1 207.6
3.Inventories 46.4 51.9 3.5 63.1 56.1 44.0
C.Fixed Assets:
4.Total assets (B4+C2) 3192.7 3238.3 3438.7 3516.2 4619.4 3964.9
D.Operation:
1.Gross sales 1310.8 1852.6 1982.9 992.0 542.5 30.0
(i)Local sales 1310.8 1852.6 1692.9 886.1 521.7 30.0
(ii)Export sales 0.0 0.0 290.0 105.9 20.8 0.0
2.Cost of Sales 1068.4 1484.5 1495.3 986.8 569.2 50.4
3.Gross profit 242.4 368.1 487.6 5.2 -26.7 -20.4
8.Tax provision 4.3 0.0 8.0 4.9 2.5 0.0
F.Cash Flow Data
470
Dandot Cement Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -367.0 -331.0 -318.3 -201.6 -620.7 -930.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 20.1 8.0 84.7 14.0 10.3 3.9
(i)Cash 20.1 8.0 84.7 14.0 10.3 3.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 9.6 39.2 32.2 30.4 42.2 19.2
C.Fixed Assets:
4.Total assets (B4+C2) 2192.4 2139.1 2163.7 3024.3 3101.9 3090.7
D.Operation:
1.Gross sales 1212.0 1577.1 1963.0 1372.6 828.7 1146.0
(i)Local sales 1212.0 1577.1 1963.0 1372.6 814.3 1144.2
(ii)Export sales 0.0 0.0 0.0 0.0 14.4 1.8
2.Cost of Sales 1219.0 1510.4 1742.6 1580.0 1065.3 1230.9
3.Gross profit -7.0 66.7 220.4 -207.4 -236.6 -84.9
8.Tax provision 0.0 5.5 7.2 4.5 2.9 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -3.1 127.1 102.1 -71.8 -200.4 165.3
10.Financial expenses as % of operating profit (D6 as % of D5) - 1034.8 58.7 -64.4 -69.3 -138.8
471
Dewan Cement Ltd. (Pakland Cement Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 836.9 1448.9 1221.6 5192.8 4749.7 4656.0
5.Debentures 3346.9 2850.7 2629.8 4410.8 3850.0 0.0
B.Liquidity:
1.Liquid Assets: 828.1 915.2 1037.1 233.7 137.3 124.5
(i)Cash 22.1 108.1 76.8 224.5 132.6 122.3
(ii)Investments 806.0 807.1 960.3 9.2 4.7 2.2
3.Inventories 28.9 132.3 186.7 302.8 127.8 384.2
C.Fixed Assets:
4.Total assets (B4+C2) 6551.6 7241.5 8231.9 22159.0 21611.1 21596.7
D.Operation:
1.Gross sales 2032.9 2757.0 3760.3 6307.3 6588.4 5682.5
(i)Local sales 2032.3 2757.0 3717.6 6144.3 6085.0 4662.0
(ii)Export sales 0.6 0.0 42.7 163.0 503.4 1020.5
2.Cost of Sales 2015.9 2417.6 3016.9 5696.8 6696.7 5249.2
3.Gross profit 17.0 339.4 743.4 610.5 -108.3 433.3
8.Tax provision 6.9 9.5 13.4 21.6 23.0 10.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -2561.5 111.2 816.7 9786.7 -1190.4 -5020.3
2.Retention in business (D7-D8-D9) -294.7 105.6 465.9 143.4 -605.3 -386.8
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -2345.6 379.8 1084.7 10250.1 -650.4 -4558.5
5.Return on assets (D7 as % of C4) -4.4 1.6 5.8 0.7 -2.7 -1.7
15.Return on Equity (D7 as % of A3) -17.3 5.1 16.7 1.9 -7.0 -4.6
3.Net profit margin (D7 as % of D1) -14.2 4.2 12.7 2.6 -8.8 -6.6
4.Earning per share before tax (D7/No. of ordinary shares) -3.5 1.4 2.9 0.5 -1.6 -1.1
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -3.6 1.3 2.8 0.4 -1.7 -1.1
472
Fauji Cement Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -2215.0 -1699.6 -903.9 -459.2 1864.1 2270.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 197.1 603.1 847.6 423.1 3783.9 175.9
(i)Cash 197.1 603.1 847.6 423.1 3783.9 175.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 61.6 55.9 145.1 183.3 230.1 137.5
9.Net liquid assets (B1-B5) -175.0 -603.9 -635.0 -1367.4 938.4 -5355.7
C.Fixed Assets:
4.Total assets (B4+C2) 5910.4 6223.7 6198.1 6400.7 12454.5 21446.5
D.Operation:
1.Gross sales 3247.3 3921.3 5683.4 4780.0 4749.2 5314.5
(i)Local sales 3247.3 3627.8 5194.6 4354.1 3889.6 4126.7
(ii)Export sales 0.0 293.5 488.8 425.9 859.6 1187.8
2.Cost of Sales 2506.4 2839.8 3492.3 3688.5 4091.1 3627.1
3.Gross profit 740.9 1081.5 2191.1 1091.5 658.1 1687.4
8.Tax provision 12.6 15.7 21.4 17.3 17.7 48.9
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 711.2 -265.1 -34.8 178.2 5301.5 6617.6
6.Self financing ratio (E2 as % of E1) -55.7 - -459.8 -732.1 8.7 21.8
7.Cash flow ratio F1 as % of F2 -0.6 - -4747.1 591.7 13.9 25.5
473
Fecto Cement Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 62.7 259.2 576.0 483.8 401.8 716.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 69.8 202.0 250.1 41.7 37.5 19.5
(i)Cash 69.8 202.0 250.1 41.7 37.5 19.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 37.2 103.4 25.4 78.1 115.7 167.9
C.Fixed Assets:
4.Total assets (B4+C2) 1241.7 1490.7 1968.9 2082.9 2229.7 2604.4
D.Operation:
1.Gross sales 2056.3 2595.2 3375.6 3183.3 3352.7 3310.7
(i)Local sales 2056.3 2595.2 3375.6 3183.3 3021.5 2393.1
(ii)Export sales 0.0 0.0 0.0 0.0 331.2 917.6
2.Cost of Sales 1785.0 2133.9 2574.7 2974.8 3161.6 2542.3
3.Gross profit 271.3 461.3 800.9 208.5 191.1 768.4
8.Tax provision 12.1 113.7 154.6 0.6 3.1 66.0
F.Cash Flow Data
474
Flying Cement Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - - 1892.9 1731.1
5.Debentures - - - - 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - - - 14.6 6.4
(i)Cash - - - - 14.6 6.4
3.Inventories - - - - 404.6 426.0
7.Net Current Assets(B4-B5) - - - - -997.4 -1225.8
9.Net liquid assets (B1-B5) - - - - -1642.0 -1893.2
C.Fixed Assets:
4.Total assets (B4+C2) - - - - 5355.8 5428.5
D.Operation:
1.Gross sales - - - - 238.3 666.0
(i)Local sales - - - - 228.5 654.8
(ii)Export sales - - - - 9.8 11.2
2.Cost of Sales - - - - 515.4 815.0
3.Gross profit - - - - -277.1 -149.0
5.Operating profit - - - - -300.2 -173.8
7.Net profit before tax (D5-D6) - - - - -331.3 -239.5
8.Tax provision - - - - 2.9 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - - -170.4
2.Retention in business (D7-D8-D9) - - - - -334.2 -239.5
3.Finance from outside the company (E1-E2) - - - - - 69.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - -257.9 -164.1
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - - -95.0
5.Return on assets (D7 as % of C4) - - - - -6.2 -4.4
6.Self financing ratio (E2 as % of E1) - - - - 0.0 140.6
7.Cash flow ratio F1 as % of F2 - - - - 0.0 172.7
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - -10.4 -37.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - - -0.9 0.0
15.Return on Equity (D7 as % of A3) - - - - -9.1 -6.9
3.Net profit margin (D7 as % of D1) - - - - -139.0 -36.0
4.Earning per share before tax (D7/No. of ordinary shares) - - - - -1.9 -1.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - -1.9 -1.4
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - - -290.0 -26.3
475
Gharibwal Cement Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 86.3 1172.0 1425.2 1033.7 517.4 147.6
5.Debentures 0.0 0.0 0.0 225.0 399.8 399.7
B.Liquidity:
1.Liquid Assets: 182.5 490.5 319.5 751.8 157.2 68.0
(i)Cash 9.2 317.2 157.0 750.9 156.5 68.0
(ii)Investments 173.3 173.3 162.5 0.9 0.7 0.0
3.Inventories 36.5 24.2 135.7 77.8 77.8 372.0
7.Net Current Assets(B4-B5) -450.1 275.7 -49.1 -1978.5 6301.4 -6466.8
C.Fixed Assets:
4.Total assets (B4+C2) 1704.8 2347.4 4302.1 8225.6 10419.6 11525.1
D.Operation:
1.Gross sales 1742.8 2135.1 2209.0 771.8 0.0 1250.3
(i)Local sales 1742.8 2135.1 2209.0 771.8 0.0 1031.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 219.2
2.Cost of Sales 1647.1 1985.5 1934.2 960.2 75.2 1126.5
3.Gross profit 95.7 149.6 274.8 -188.4 -75.2 123.8
8.Tax provision 10.0 7.5 3.1 2.5 0.0 5.6
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -11.2 22.5 3.5 -65.1 -100.0 -
476
Javedan Cement Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -421.2 -190.2 -60.3 -243.9 -286.4 440.6
5.Debentures 0.0 0.0 0.0 625.0 546.9 0.0
B.Liquidity:
1.Liquid Assets: 231.6 527.3 509.1 8.2 71.3 71.8
(i)Cash 231.6 397.3 394.9 8.2 71.3 71.8
(ii)Investments 0.0 130.0 114.2 0.0 0.0 0.0
3.Inventories 26.7 47.8 70.6 189.3 172.6 176.3
9.Net liquid assets (B1-B5) -300.1 -75.8 44.2 -337.4 -357.0 -1528.1
C.Fixed Assets:
4.Total assets (B4+C2) 670.5 972.9 964.6 1286.8 1368.8 5861.2
D.Operation:
1.Gross sales 1813.6 2061.0 2410.1 1572.7 1652.7 1622.2
(i)Local sales 1813.6 2061.0 2410.1 1539.5 1527.6 1500.4
(ii)Export sales 0.0 0.0 0.0 33.2 125.1 121.8
2.Cost of Sales 1672.0 1754.2 1979.4 1494.7 1564.0 1372.9
3.Gross profit 141.6 306.8 430.7 78.0 88.7 249.3
8.Tax provision 37.0 111.0 111.7 5.6 6.0 0.0
F.Cash Flow Data
477
Kohat Cement Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 384.1 603.9 1358.6 1321.8 1158.6 981.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 168.1 289.1 663.5 132.4 37.0 34.4
(i)Cash 168.1 289.1 656.9 132.4 37.0 34.4
(ii)Investments 0.0 0.0 6.6 0.0 0.0 0.0
3.Inventories 15.1 22.3 87.9 125.1 174.3 139.3
7.Net Current Assets(B4-B5) -3.0 94.6 444.5 -215.4 -934.2 -1677.5
9.Net liquid assets (B1-B5) -352.4 -148.3 111.2 -689.0 -2272.4 -3327.5
C.Fixed Assets:
4.Total assets (B4+C2) 1423.0 1651.9 3076.2 5864.3 7623.9 8622.2
D.Operation:
1.Gross sales 1979.6 2353.7 2922.6 2050.4 1823.6 3395.6
(i)Local sales 1773.2 2120.7 2237.9 1526.9 1309.4 2601.4
(ii)Export sales 206.4 233.0 684.7 523.5 514.2 794.2
2.Cost of Sales 1484.1 1689.5 1723.0 1707.1 1736.2 2591.0
3.Gross profit 495.5 664.2 1199.6 343.3 87.4 804.6
8.Tax provision 130.9 176.3 192.6 23.9 7.1 8.7
3.Finance from outside the company (E1-E2) -63.5 -72.5 462.5 2477.4 558.3 -189.6
F.Cash Flow Data
478
Lafarge Pak. Cement Ltd. (Pakistan Cement Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 217.8 -207.8 -266.0 -851.3 -2096.1 -3365.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.3 0.9 23.2 678.4 55.5 71.3
(i)Cash 0.3 0.9 23.2 678.4 55.5 71.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 26.0 498.8 946.9 724.4
C.Fixed Assets:
4.Total assets (B4+C2) 9202.5 8815.4 15776.6 21471.5 21980.1 19701.4
D.Operation:
1.Gross sales 0.0 0.0 0.0 6225.0 10079.8 8129.9
(i)Local sales 0.0 0.0 0.0 5116.4 7804.1 5709.1
(ii)Export sales 0.0 0.0 0.0 1108.6 2275.7 2420.8
2.Cost of Sales 0.0 0.0 0.0 6724.3 9504.9 7146.3
3.Gross profit 0.0 0.0 0.0 -499.3 574.9 983.6
5.Operating profit 0.0 645.3 -53.7 -1.8 67.0 -23.8
8.Tax provision 0.0 0.0 0.0 0.0 23.1 24.5
F.Cash Flow Data
3.Net profit margin (D7 as % of D1) - - 0.0 -12.8 -14.0 -15.4
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 0.0 -109.1 600.0 57.1 -9.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 - - - 61.9 -19.3
479
Lucky Cement Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1895.9 2548.6 4435.9 6719.8 15421.7 20018.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1000.1 141.4 2063.8 1239.2 270.0 1049.1
(i)Cash 1000.1 141.4 2063.8 1239.2 270.0 1049.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 172.3 115.8 431.4 676.3 709.4 1196.6
C.Fixed Assets:
4.Total assets (B4+C2) 7040.0 14806.9 23622.8 25723.8 34239.1 38392.4
D.Operation:
1.Gross sales 4270.0 5566.4 10707.9 16623.4 20819.8 26330.4
(i)Local sales 4028.4 4897.0 9379.1 12309.6 11539.0 10498.6
(ii)Export sales 241.6 669.4 1328.8 4313.8 9280.8 15831.8
2.Cost of Sales 3169.5 4186.8 7797.2 12948.2 16457.0 16519.1
3.Gross profit 1100.5 1379.6 2910.7 3675.2 4362.8 9811.3
8.Tax provision 16.6 19.9 39.9 63.1 85.4 156.7
F.Cash Flow Data
480
Maple Leaf Cement Factory Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1629.7 3040.6 3792.4 4724.3 4081.7 2446.4
5.Debentures 125.0 41.7 0.0 0.0 8000.0 7200.0
B.Liquidity:
1.Liquid Assets: 228.3 374.8 118.3 1068.1 853.8 506.5
(i)Cash 223.3 369.8 100.9 123.4 118.9 99.9
(ii)Investments 5.0 5.0 17.4 944.7 734.9 406.6
3.Inventories 100.1 183.2 200.9 369.7 434.0 650.9
C.Fixed Assets:
4.Total assets (B4+C2) 7087.6 10419.4 18793.3 23432.5 26136.5 25653.5
D.Operation:
1.Gross sales 4967.5 6193.4 7954.9 5514.2 10552.4 15251.4
(i)Local sales 4967.5 6193.4 7954.9 5514.2 8195.1 8766.1
(ii)Export sales 0.0 0.0 0.0 0.0 2357.3 6485.3
2.Cost of Sales 3819.2 4865.5 5806.3 5204.3 9228.6 10296.9
3.Gross profit 1148.3 1327.9 2148.6 309.9 1323.8 4954.5
8.Tax provision 17.3 38.9 28.5 9.7 44.8 64.3
F.Cash Flow Data
481
Mustehkam Cement Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -883.1 -940.5 2506.1 2733.6 2540.5 3170.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.7 0.7 5.4 11.0 19.5 9.9
(i)Cash 0.7 0.7 5.4 11.0 19.5 9.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 2.8 2.8 128.5 164.5 306.8 197.1
C.Fixed Assets:
4.Total assets (B4+C2) 463.1 437.3 4141.7 4923.9 5669.5 9655.5
D.Operation:
1.Gross sales 0.0 0.0 408.7 940.6 1484.9 1351.2
(i)Local sales 0.0 0.0 408.7 940.6 1484.9 1351.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 406.4 1224.5 1768.5 1231.4
3.Gross profit 0.0 0.0 2.3 -283.9 -283.6 119.8
5.Operating profit -31.4 -27.8 -7.8 100.5 -300.7 26.8
7.Net profit before tax (D5-D6) -97.5 -60.2 -22.7 37.5 -416.2 -131.4
8.Tax provision 0.0 0.0 1.6 3.2 4.9 3.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -71.8 -33.7 -10.5 219.8 -216.9 51.0
5.Return on assets (D7 as % of C4) -21.1 -13.8 -0.5 0.8 -7.3 -1.4
6.Self financing ratio (E2 as % of E1) -29.1 - -0.7 5.5 -59.8 -3.8
7.Cash flow ratio F1 as % of F2 -19.9 - -0.3 27.0 -23.9 1.4
10.Financial expenses as % of operating profit (D6 as % of D5) - - -191.0 62.7 -38.4 590.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - -7.0 8.5 -1.2 -2.4
15.Return on Equity (D7 as % of A3) - - -0.9 1.3 -15.5 -4.0
3.Net profit margin (D7 as % of D1) - - -5.6 4.0 -28.0 -9.7
4.Earning per share before tax (D7/No. of ordinary shares) -7.9 -4.9 -1.8 3.0 -27.7 -8.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] -7.9 -4.9 -2.0 2.8 -28.0 -8.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - 130.1 57.9 -9.0
482
Pioneer Cement Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -400.7 703.0 1301.6 972.3 2550.0 2586.1
5.Debentures 185.9 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 37.2 17.5 71.9 305.5 139.2 159.3
(i)Cash 37.2 17.5 71.9 305.5 139.2 159.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 50.8 56.8 96.8 150.3 68.7 146.1
C.Fixed Assets:
4.Total assets (B4+C2) 4274.7 6887.8 8405.0 8610.5 10472.7 10347.8
D.Operation:
1.Gross sales 1958.3 2800.1 4153.6 4648.7 6607.5 5000.2
(i)Local sales 1958.3 2436.8 3754.9 4276.7 5150.4 3957.8
(ii)Export sales 0.0 363.3 398.7 372.0 1457.1 1042.4
2.Cost of Sales 1571.7 2127.0 2922.9 4330.5 6093.8 3667.3
3.Gross profit 386.6 673.1 1230.7 318.2 513.7 1332.9
8.Tax provision 6.7 11.3 17.7 18.3 24.5 10.1
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - 26.9 83.7 -8.6 -4.4 -212.9
483
Thatta Cement Company Ltd. (Million Rupees)
Items 2004 2005 2006 2007 2008 2009
2.Surplus - - - - -227.0 -26.9
5.Debentures - - - - 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - - - 6.4 50.4
(i)Cash - - - - 6.4 11.8
3.Inventories - - - - 175.9 225.3
7.Net Current Assets(B4-B5) - - - - -6.8 44.7
9.Net liquid assets (B1-B5) - - - - -602.5 -514.6
C.Fixed Assets:
4.Total assets (B4+C2) - - - - 1346.4 1419.2
D.Operation:
1.Gross sales - - - - 1820.8 1795.1
(i)Local sales - - - - 1313.3 1110.0
(ii)Export sales - - - - 507.5 685.1
2.Cost of Sales - - - - 1611.4 1301.9
3.Gross profit - - - - 209.4 493.2
5.Operating profit - - - - 139.1 327.1
7.Net profit before tax (D5-D6) - - - - 53.7 263.4
8.Tax provision - - - - 7.3 15.0
2.Retention in business (D7-D8-D9) - - - - 46.4 248.4
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - - 93.0 294.4
5.Return on assets (D7 as % of C4) - - - - 4.0 18.6
6.Self financing ratio (E2 as % of E1) - - - - 0.0 212.9
7.Cash flow ratio F1 as % of F2 - - - - 0.0 180.9
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - 61.4 19.5
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - - - 13.6 5.7
15.Return on Equity (D7 as % of A3) - - - - 9.4 34.2
3.Net profit margin (D7 as % of D1) - - - - 2.9 14.7
4.Earning per share before tax (D7/No. of ordinary shares) - - - - 0.7 3.3
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - 0.6 3.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - - -30.0 371.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - - -1.4
484
Zeal Pak Cement Factory Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -599.9 -324.6 -266.7 -428.0 -2853.1 -3375.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 7.3 5.1 6.5 0.6 6.6 19.7
(i)Cash 7.3 5.1 6.5 0.6 6.6 19.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 148.9 136.0 213.2 162.5 180.8 183.2
7.Net Current Assets(B4-B5) -331.1 24.5 167.0 83.0 -487.5 -968.1
C.Fixed Assets:
4.Total assets (B4+C2) 2315.1 2183.0 2449.9 2255.4 2980.1 2907.1
D.Operation:
1.Gross sales 1077.6 1511.9 1424.0 697.3 453.5 569.1
(i)Local sales 1077.6 1511.9 1424.0 697.3 453.5 569.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1111.3 1447.9 1306.7 857.2 926.4 990.1
3.Gross profit -33.7 64.0 117.3 -159.9 -472.9 -421.0
8.Tax provision 3.5 6.8 5.1 2.4 1.6 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -22.7 -50.4 -190.6 269.5 -273.6 85.6
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 21.8 40.3 -5.8 -51.0 -35.0 25.5
485
Al-Abbas Cement Industries Ltd.
Perdesi House, Survey No. 2/1, R.Y.16, Old Queens Road, Karachi.
Syed Ajaz Ahmed(Chairman) Allied Bank Of Pakistan Ltd. M/s. M. Sikander & Co.
Mr, Momal Shunaid(Chief Executive) Bank Al-Falah Ltd.
Mrs. Asma Cochinwala(Director) Albaraka Islamic Bank Ltd.
Mr. Tariq Usman Bhatti(Director) Habib Bank Ltd.
Mrs. Momina Duraid(Director) KASB Bank Ltd.
Syed Salman Rasheed(Director) National Bank Of Pakistan
Mr. Aves Cochinwala(Director) United Bank Ltd.

Clinker Metric tons 900,000 582,824
Attock Cement Pakistan Ltd

D-70, Block-4, Kehkashan-5, Clifton, Karachi.
Dr. Ghaith R. Pharaon(Chairman) KASB Bank Ltd. M/s. A.F.Ferguson & Co.
Mr. Babar Bashir Nawaz(Chief Executive) The Bank Of Punjab
Mr. Laith G. Pharaon(Director) Bank Al Habib Ltd.
Mr. Wael G. Pharaon(Director) First Women Bank Ltd.
Mr. Shuaib A. Malik(Director) Bank Alfalah Ltd.
Mr. Abdus Sattar(Director) NIB Bank Ltd.
Mr. Bashir Ahmad(Director) United Bank Ltd.

Cliniker M. Tons 1,710,000 1,678,619
Cement M. Tons 1,795,500 1,721,665
486
Bestway Cement Ltd.
Bestway Building, 19-A, College Road, F-7 Markaz, Islamabad.
Sir Mohammed Anwer Pervez(Chairman) MCB Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Zameer Mohammed Choudhary(Chief Execu The Royal Bank of Scottland Ltd.
Mr. Arshad Mehmood Choudhary(Director) Askari Commercial Bank Limited
Mr. Ghulam Sarwar Malik(Director) Bank Al-Habib Limited
Mr. Mazhar Rafi(Director) Bank Alflah Limited
Mr. Arshad Hameed(Director) Faysal Bank Ltd.
Mr. Muhammad Irfan A. Shaikh(Director) Habib Bank Ltd.

Clinker Hattar Metric Tons 1,170,000 1,074,607
Clinker Chakwal Metric Tons 3,420,000 2,183,928
Cherat Cement Company Ltd.

Modern Motor House, Beaumont Road, Karachi-75530
Mr. Mohammad Faruque(Chairman) RBS Bank Ltd. M/S. Ford Rhodes Sidat Hyder & Co.
Mr. Azam Faruque(Chief Executive) Allied Bank Of Pakistan Ltd.
Mr. Arif Faruque(Director) Citibank N.A.
Mr. Shehryar Faruque(Director) Bank Al-Habib Ltd.
Mr. Akbarali Pesnani(Director) HSBC Bank Middle East Ltd.
Mr. Iftikhar Ahmad Bashir (NIT)(Director) Habib Bank Ltd.
Mr. Aamir amin (NIT)(Director) MCB Bank Ltd.

Clinker M. Tons 1,000,000 967,100
487
D.G. Khan Cement Company Ltd.
Nishat House, 53-A, Lawrence Road, Lahore.
Mrs. Naz Mansha(Chairperson) The Royal Bank of Scotland Ltd. KPMG Taseer Hadi & Co.
Mian Raza Mansha(Chief Executive) Allied Bank Ltd.
Mr. Muhammad Azam(Director) Habib Bank Ltd.
Mr. Inayat Ullah Niazi(Director) The Bank Of Punjab
Mr. Khalid Qadeer Qureshi(Director) National Bank Of Pakistan
Ms. Nabiha Shahnawaz Cheema(Director) MCB Bank Ltd.
Mr. Zaka-ud-Din(Director) United Bank Ltd.

Clinker M. tons 4,020,000 3,946,101
Cement Bags Nos. 120,000,000 71,165,872
Dadabhoy Cement Industries Ltd.

C-30/II, 24th Commercial Street, Phase-2 (Ext.) D.H.A. Karachi.
Mr. Mohammad Hussain Dadabhoy(Chairman) Saudi Pak Commercial Bank Ltd. M/s. A.R.Khan & Co.
Mr. Mohammad Amin Dadabhoy(Chief Executive Prime Commercial Bank Limited
Mr. Fazal Karim Dadabhoy(Director) MCB Bank Ltd.
Mr. Naseemuddin(Director) National Bank Of Pakistan
Syed Nasim Ahmed(Director)
Mrs. Noor Bakht Dadabhoy(Director)

Cement M. Tons 598,000 8,800
488
Dandot Cement Company Ltd.
30-Sher Shah Block, New Garden Twon, Lahore
Mr. Muhammad Rasheed(Chairman) The Bank Of Punjab M/s. Amin, Mudassar & Co.
Mr. Mansoor Rasheed(Chief Executive) Bank Alfalah Limited
Mrs. Tanveer Rasheed(Director) KASB Bank Ltd.
Mr. Saud Rasheed(Director) Habib Bank Ltd.
Ms. Rizwana Rasheed(Director) United Bank Ltd.
Mrs. Ayesha Mansoor(Director) National Bank Of Pakistan
Mrs. Amina Saud(Director) Saudi Pak Commercial Bank Ltd.

Cement M. Tons 504,000 259,598
Dewan Cement Ltd. (Pakland Cement Ltd.)

Blcok-A, 2nd Floor, Finance & Trade Centre, Shahrah-e-Faisal, Karachi.
Dewan M. Yousuf Farooqui(Chairman / C.E.O.) United Bank Ltd. M/s. Faruq Ali & Co.
Mr. Haroon Iqbal(Director) Allied Bank Of Pakistan Ltd.
Mr. Azizul Haque(Director) Askari Commercial Bank Ltd.
Dewan Abdullah Ahmed(Director) Faysal Bank Ltd.
Syed Muhammad Ali Khan(Director) Habib Bank Ltd.
Dewan Abdul Baqi Farooqui(Director) National Bank Of Pakistan
Mr. Basheer Ahmed Chowdry (Creditors)(Directo Standard Chartered Bank Ltd.

Clinker M.Tons 2,700,000 1,294,983
489
Fauji Cement Company Ltd.
1st Floor, Aslam Plaza, 60 Adamjee Road, Saddar, Rawalpindi.
Lt. Gen. (Retd.) Hamid Rab Nawaz(Chairman) Habib Bank Ltd. KPMG Taseer Hadi & Co.
Lt. Gen. (Retd,) Javed Alam Khan(M.D. / C.E.O. Muslim Commercial Bank Ltd.
Brig. (Retd.) Arif Rasul Qureshi(Director) National Bank Of Pakistan
Brig. (Retd.) Munawar Ahmed Rana(Director) Standard Chartered Bank Ltd.
Mr. Qaisar Javed(Director)
Mr. Riyaz H. Bokhari (IFU)(Director)
Brig. (Retd.) Rahat Khan(Director)

Cement production M.Tons 1,165,500 1,183,684
Fecto Cement Ltd.

35-Darul Aman Housing Society, Block 7&8, Shahra-e-Faisal, Karachi.
Mr. Mohammed Asad Fecto(Chairman) Habib Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Mohammed Yasin Fecto(Chief Executive) MCB Bank Ltd. M/s. Rahman Sarfaraz Rahim Iqbal Rafiq
Mrs. Zubeda Bai(Director) National Bank Of Pakistan
Mr. Khalid Yacoob(Director) NIB Bank Ltd.
Mr. Muhammad Hussain(Director) Saudi Pak Ind. & Agr. Inv. Co. (Pvt.) Ltd.
Mr. Mohammad Shakeel Arif(Director)
Mr. Mohammed Ilyas Khan(Director)

Cement M.Tons 780,000 740,330
490
Flying Cement Ltd.
103-Fazal Road, Lahore Cantt, Lahore
Mr. Kamran Khan(Chairman / C.E.O.) Askari Bank Ltd. M/S Tahir Siddiqi & Co.
Mr. Imran Qamar(Director) Bank Of Punjab
Mr. Momin Qamar(Director) United Bank Ltd.
Mr. Bilal Qamar(Director) Al Baraka Islamic Bank
Mrs. Shaista Imran(Director) Faysal Bank Ltd.
Mrs. Samina Kamran(Director) MCB Bank Ltd.
Mrs. Misbah Momin(Director) National Bank of Pakistan.

Clinker M.Tons 1,200,000 90,694
Cement M.Tons 1,260,000 155,214
Gharibwal Cement Ltd.

34 - Main Gulberg , P.O.Box 1285, Lahore
Mr. Mohd. Tousif Peracha(Chairman / C.E.O.) Askari Bank Ltd. M/s.. Ford Rhodes Sidat Hyder & Co.
Mrs. Tabassum Tousif Peracha(Director) Citi Bank N. A.
Mr. Abdul Rafique Khan(Director) The Royal Bank of Scotland Ltd.
Mr. Ali Rashid Khan(Director) Habib Bank Ltd.
Mrs. Amna Khan(Director) MCB Bank Ltd.
Mr. M. Niaz Piracha(Director) National Bank Of Pakistan
Mr. Jawaid Aziz Peracha(Director) Silk Bank Ltd.

Cliniker Tons 2,010,000 782,074
Cement Tons 4,320,000 692,091
491
Javedan Cement Ltd.
2nd Floor, Pardesi House, Survey No.2/1, R.Y.16, Old Queens Road, Karachi.
Mr. Arif Habib(Chairman) Allied Bank Of Pakistan Ltd. M/s Haroon Zakaria & Company
Aves Cochinwala(Chief Executive) Habib Bank Ltd.
Mr. Kashif Habib(Director) MCB Bank Ltd.
Mr. Asma Cochinwala(Director) National Bank Of Pakistan
Mr. Ijaz Ahmed(Director) United Bank Ltd.
Mr. Bushra Ayub(Director) Askari Bank Ltd.
Mr. Ikram-ul-Haq Siddiqui(Director) Arif Habib Bank Ltd.

Cement M.Tons 600,000 368,357
Kohat Cement Company Ltd.

Kohat Cement Company Ltd., Rawalpindi Road, Kohat.
Mr. Aizaz Mansoor Sheikh(Chief Executive) National Bank Of Pakistan KPMG Taseer Hadi & Co.
Mr. Ibrahim Tanseer Sheikh(Director) Askari Commercial Bank Ltd.
Mrs. Hafsa Nadeem(Director) Allied Bank Of Pakistan Ltd.
Mr. Nadeem Atta Sheikh(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Tariq Atta Sheikh(Director) The Bank of Khyber
Mrs. Ghazala Amjad(Director) Soneri Bank Ltd.
Mr. Omer Aziz Sheikh(Director) MCB Bank Ltd.

Cement-Gray M.Tons 1,974,000 781,879
Cement-White M.Tons 141,750 20,215
Clinker-Gray M.Tons 1,880,000 713,347
492
Lafarge Pak. Cement Ltd. (Pakistan Cement Ltd.)
18-B, Kaghan Road, F-8 Markaz, Islamabad.
Mr. Ahmed Said Heshmat Hassan(Chairman) Habib Bank Ltd. M/s. Emst & Young Ford Rhodes Sidat Hyder &
Maj. Gen. (Retd.) Rehmat Khan(Chief Executive MCB Bank Ltd.
Mr. Amr Ali Reda(Director) Allied Bank Ltd.
Mrs. Amal Tantawi(Director) Citibank N.A.
Mr. Ashraf Abouelkheir(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Bilal Hamid Jawaid(Director) United Bank Ltd.
Mr. Shahid Anwar (NIT)(Director) NIB Bank Ltd.

Clinker M.Tons 2,400,000 2,224,333
Lucky Cement Ltd.

Tehsil: Pezu, Dist. Lucky Marwat, NWFP(Kyber Pakhtunkhua
Mr.Muhammad Yunus Tabba(Chairman) Habib Metorpolitan Bank Ltd. M/s Ford Rhodes Sidat Hyder & Co.
Mr. Muhammad Ali Tabba(Chief Executive) MCB Bank Ltd.
Mr. Imran Yunus Tabba(Director) Citi Bank N. A.
Ms. Mariam Razzak(Director) Habib Bank Limited
Mrs. Rahila Aleem(Director) Allied Bank Ltd.
Mr. Javed Yunus Tabba(Director) The Royal Bank of Scotland Ltd.
Mr. Muhammad Sohail Tabba(Director) Bank Al Habib Ltd.

Clinker M. Tons 7,750,000 5,610,455
Cement M. Tons 7,000,000 5,715,860
493
Maple Leaf Cement Factory Ltd.
42-Lawrence Road, Lahore.
Mr. Tariq Sayeed Saigol(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hameed Chaudhri & Co.
Mr. Sayeed Tariq Saigol(Chief Executive) Habib Bank Ltd.
Mr. Kamil Taufique Saigol(Director) MCB Bank Ltd.
Mr. Taufique Sayeed Saigol(Director) National Bank Of Pakistan
Mr. Zamiruddin Azar(Director) Bank Al-Falah Ltd.
Ms. Bushra Naz Malik(Director) Soneri Bank Ltd.
Mr. Waleed Tariq Saigol(Director) The Bank Of Punjab

Clinker M. Tons 3,690,000 3,137,065
Mustehkam Cement Ltd.

Bestway Building, 19-A, College Road, F-7 Markaz, Islamabad.
Mr. Muhammad Anwar Pervez(Chairman) Habib Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Zameer Mohammed Choudrey(Chief Execut National Bank Of Pakistan
Mr. Arshad Mehmood Chaudhary(Director) Bank Al Habib Ltd.
Mr. Muhammad Irfan A. Sheikh(Director) NIB Bank Ltd.
Mr. Mazhar Rafi(Director) Allied Bank Ltd.
Mr. Arshad Hameed(Director) Arif Habib Bank Ltd.
Mr. Ghulam Sarwar Malik(Director) Standard Chartered Bank ( Pakistan) Ltd.

Cliniker M.Tons 573,000 225,982
494
Pioneer Cement Ltd.
1st Floor, Alfalah Building, Shahrah-e-Quaid-e-Azam, Lahore.
Malik Manzoor Hayat Noon(Chairman) Bank Al-Habib Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Javed Ali Khan(M.D. / C.E.O.) Habib Bank Ltd.
Mr. Aly Khan(Director) National Bank Of Pakistan
Mr. Nadir Rahman(Director) Askari Bank Ltd.
Mr. Wajahat A. Baqai (NBP)(Director) United Bank Limited
Mr. William Gardon Rodgers(Director) The Bank Of Punjab
Mr. Rafique Dawood (FDIB)(Director) Bank Islami Pakistan Ltd.

Clinker M. Tons 1,995,000 1,145,094
Cement M. Tons Indeterminable 1,166,095
Thatta Cement Company Ltd.

Perdesi House, Survey No. 2/1, R.Y.16, Old Queens Road, Karachi-74000
Mrs. Zetun Hajiani(Director) Al Baraka Islamic Bank M/S Hyder Bhimji & Co.
Mr. Muhammad Arif Habib(Chairman) Arif Habib Bank Ltd.
Mr. Muhammad Fazlullah Shariff(Chief Executive National Bank of Pakistan.
Mr. Muhammad Akmal Jameel(Director) MCB Bank Ltd.
Mr. Muhammad Khubaib(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Muhamamd Kashif(Director)
Mr. Muhammad Ejaz(Director)

Clinker M. Tons 450,000 371,900
Cement M.Tons - 324,788
495
Zeal Pak Cement Factory Ltd.
7th Floor, PIC Tower, 32-A, Lalazar Drive, Molvi Tamizuddin Khan Road, Karachi.
Mr. Mazhar Ali Jatoi(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hamid Khan & Co.
Mr. Jehangir Akbar(Chief Executive) Bank of Punjab Ltd.
Mr. Muhammad Moosa(Director) MCB Bank Ltd
Mr. Mushtaq Ali Shah Bukhari(Director) National Bank of Pakistan.
Mr. Ashraf Ali Jatoi(Director) The Royal Bank of Scotland Ltd.
Mr. Nawab Ali Jatoi(Director) Meezan Bank Ltd.
Mr. Nawab Ahmed Khanzada(Director)

Cement M.Tons 1,755,000 143,715
Bages No.s 15,000,000 84,000
496
Fuel & Energy Sector
Fuel And Energy Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 97082.9 161779.1 169210.5 159524.5 175352.6 206531.2
5.Debentures 1456.7 416.3 535.7 3329.1 1087.1 1040.0
B.Liquidity:
1.Liquid Assets: 69922.7 109730.0 138826.3 117716.9 152451.8 88542.3
(i)Cash 62795.8 97213.3 80666.3 67734.8 92786.9 49948.7
(ii)Investments 7126.9 12516.7 58160.0 49982.1 59664.9 38593.6
3.Inventories 38684.8 41507.1 60391.5 72234.4 116651.6 90426.4
C.Fixed Assets:
4.Total assets (B4+C2) 442493.7 566803.8 668003.6 754661.5 991912.5 1197046.4
D.Operation:
1.Gross sales 655890.1 953328.3 1296578.6 1445910.5 1772186.6 1885039.0
(i)Local sales 648419.8 940811.9 1275004.3 1420543.9 1732971.1 1843370.9
(ii)Export sales 7470.3 12516.4 21574.3 25366.6 39215.5 41668.1
2.Cost of Sales 571059.8 820076.3 1136150.4 1285235.1 1548041.9 1685291.2
3.Gross profit 84830.3 133252.0 160428.2 160675.4 224144.7 199747.8
8.Tax provision 14405.1 28930.0 39643.5 35364.5 52714.6 38431.3
F.Cash Flow Data
499
Fuel & Energy

250
200
150
%
100
50
0
2004 2005 2006 2007 2008 2009

Altern Energy Limited (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -0.8 -102.9 -219.0 3769.9 4261.7 -686.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 15.4 9.2 56.3 1740.9 1072.3 3289.4
(i)Cash 15.4 9.2 56.3 1740.9 1072.3 84.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 3204.5
3.Inventories 0.0 0.0 0.0 277.2 355.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 480.5 454.0 621.6 28225.8 30669.7 4489.4
D.Operation:
1.Gross sales 95.1 24.8 0.0 0.0 11402.9 659.7
(i)Local sales 95.1 24.8 0.0 0.0 11402.9 659.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 95.5 77.1 38.1 37.2 8515.7 509.1
3.Gross profit -0.4 -52.3 -38.1 -37.2 2887.2 150.6
8.Tax provision 0.0 0.0 1.6 0.5 0.5 1.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -84.7 -131.3 -173.4 22721.4 634.3 -19674.2
3.Finance from outside the company (E1-E2) -38.1 -29.8 -58.5 22795.1 -496.4 -19434.2
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -2.6 -62.1 -79.4 625.9 2296.8 -167.8
2.Depreciation for the year plus changes in capital employed (C3+E1) -40.7 -91.9 -137.9 23421.0 1800.4 -19602.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - -1.4 -0.7 0.0 -0.4
15.Return on Equity (D7 as % of A3) -21.2 -85.9 -5665.0 -1.0 14.7 -8.7
3.Net profit margin (D7 as % of D1) -49.0 -409.3 0.0 0.0 9.9 -36.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -42.8 -73.9 -100.0 - - -94.2
501
Attock Petroleum Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - 613.1 1645.7 3054.3 5055.8 6506.3
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 1357.9 2634.2 4268.8 7157.4 8168.3
(i)Cash - 1267.1 2280.9 4066.8 6117.9 7434.9
(ii)Investments - 90.8 353.3 202.0 1039.5 733.4
3.Inventories - 110.1 74.2 341.7 299.1 141.5
C.Fixed Assets:
4.Total assets (B4+C2) - 2447.9 6584.1 8983.7 15513.4 18270.4
D.Operation:
1.Gross sales - 11217.0 46223.8 49965.9 60130.1 61863.2
(i)Local sales - 11217.0 46223.8 49965.9 60130.1 61863.2
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 10786.0 44411.9 47920.9 57381.7 58570.8
3.Gross profit - 431.0 1811.9 2045.0 2748.4 3292.4
7.Net profit before tax (D5-D6) - 559.9 1945.6 2435.7 3529.6 3630.3
8.Tax provision - 167.0 553.0 723.0 924.0 1120.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 1032.6 1408.6 2081.5 1546.5
2.Retention in business (D7-D8-D9) - 192.9 912.6 1152.7 1645.6 1070.3
3.Finance from outside the company (E1-E2) - - 120.0 255.9 435.9 476.2
F.Cash Flow Data
5.Return on assets (D7 as % of C4) - 22.9 29.5 27.1 22.8 19.9
15.Return on Equity (D7 as % of A3) - 55.3 95.1 70.5 63.8 51.3
3.Net profit margin (D7 as % of D1) - 5.0 4.2 4.9 5.9 5.9
4.Earning per share before tax (D7/No. of ordinary shares) - 14.0 48.6 60.9 73.5 63.0
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - 9.8 34.8 42.8 54.3 43.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 1300.0 247.1 25.3 20.7 -14.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 312.1 8.1 20.3 2.9
502
Attock Refinery Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 3195.0 4457.9 4677.0 5133.4 10911.6 11217.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3318.0 7889.6 16654.5 18141.4 32080.2 6802.3
(i)Cash 3308.7 5480.6 8031.6 8880.1 18944.6 6802.3
(ii)Investments 9.3 2409.0 8622.9 9261.3 13135.6 0.0
3.Inventories 1738.6 2100.6 3523.8 3852.6 4844.9 4869.0
C.Fixed Assets:
4.Total assets (B4+C2) 12354.2 18367.8 29096.3 32187.8 50081.3 44487.5
D.Operation:
1.Gross sales 29512.2 47493.4 70001.3 74316.6 93654.3 77260.5
(i)Local sales 26796.3 44118.2 61488.3 66083.8 82828.7 69188.2
(ii)Export sales 2715.9 3375.2 8513.0 8232.8 10825.6 8072.3
2.Cost of Sales 28580.6 44944.2 69429.6 73462.6 89646.4 75342.1
3.Gross profit 931.6 2549.2 571.7 854.0 4007.9 1918.4
8.Tax provision 433.4 926.9 400.0 476.5 1054.1 631.7
F.Cash Flow Data
503
Byco Petruleum (Bosicor Pakistan Limited.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -13.9 105.1 290.2 2583.9 1168.6 -6519.9
5.Debentures 291.0 0.0 535.7 321.4 107.1 0.0
B.Liquidity:
1.Liquid Assets: 81.2 300.9 2189.8 2088.9 7906.5 2078.4
(i)Cash 81.2 300.9 2189.8 1788.9 7906.5 2078.4
(ii)Investments 0.0 0.0 0.0 300.0 0.0 0.0
3.Inventories 924.2 1812.3 3909.4 5177.4 11934.2 4487.8
C.Fixed Assets:
4.Total assets (B4+C2) 5149.5 6870.4 11099.9 15228.5 32050.9 31611.7
D.Operation:
1.Gross sales 0.0 11522.1 21633.6 23349.6 40092.1 44621.0
(i)Local sales 0.0 11522.1 21201.3 22435.6 40092.1 39103.3
(ii)Export sales 0.0 0.0 432.3 914.0 0.0 5517.7
2.Cost of Sales 0.0 11130.6 21008.9 23422.1 37950.2 48530.1
3.Gross profit 0.0 391.5 624.7 -72.5 2141.9 -3909.1
8.Tax provision 0.0 50.0 89.6 96.9 179.0 55.2
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - 222.5 364.9 2744.7 -462.7 -3190.3
3.Finance from outside the company (E1-E2) - 90.1 153.1 3469.7 -467.7 7192.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - 560.0 690.5 2964.6 -213.4 -2708.3
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 27.4 29.7 -15.4 97.3 -0.5
3.Net profit margin (D7 as % of D1) - 1.6 1.4 -2.7 0.5 -23.1
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 0.0 71.4 -316.7 -119.2 -5360.0
504
Generteck Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 68.4 -14.5 -163.6 -163.6 -349.6 -349.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.0 0.8 2.4 2.4 1.2 1.2
(i)Cash 5.0 0.8 2.4 2.4 1.2 1.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 24.6 9.1 9.1 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 861.0 807.3 697.0 697.0 571.5 571.5
D.Operation:
1.Gross sales 663.9 597.1 104.0 104.0 36.7 36.7
(i)Local sales 663.9 597.1 104.0 104.0 36.7 36.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 595.8 626.2 175.1 175.1 82.2 82.2
3.Gross profit 68.1 -29.1 -71.1 -71.1 -45.5 -45.5
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 74.0 -29.7 -91.5 -91.5 -49.7 -49.7
7.Cash flow ratio F1 as % of F2 108.5 - 58.2 -201.1 26.9 -130.8
15.Return on Equity (D7 as % of A3) 5.7 -45.2 -398.3 -398.3 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 6.0 -10.1 -82.6 0.0 -64.7 0.0
505
Ideal Energy Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 173.2 165.0 141.6 132.8 116.8 98.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 15.1 2.9 2.2 1.5 3.3 0.2
(i)Cash 15.1 2.9 2.2 1.5 3.3 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 10.9 5.3 5.5 5.6 6.4 1.9
C.Fixed Assets:
4.Total assets (B4+C2) 320.5 304.2 230.5 215.8 203.9 184.5
D.Operation:
1.Gross sales 247.2 208.3 9.7 7.2 32.5 21.8
(i)Local sales 247.2 208.3 9.7 7.2 32.5 21.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 217.8 211.1 24.0 13.3 45.5 36.9
3.Gross profit 29.4 -2.8 -14.3 -6.1 -13.0 -15.1
8.Tax provision 0.0 0.1 0.0 0.0 0.0 0.0
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -26.2 -15.7 -95.3 -25.8 351.4 -32.9
506
Japan Power Generation Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -914.8 -994.9 -576.4 -937.2 -1015.7 -1692.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.1 4.9 4.0 7.7 20.9 24.8
(i)Cash 6.1 4.9 4.0 7.7 20.9 24.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 56.0 70.0 208.9 93.2 131.7 105.5
C.Fixed Assets:
4.Total assets (B4+C2) 6313.8 6233.8 7137.6 6997.3 7116.1 6429.6
D.Operation:
1.Gross sales 2019.9 2194.8 3517.0 4018.2 4499.1 3505.8
(i)Local sales 2019.9 2194.8 3517.0 4018.2 4499.1 3505.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1636.0 1818.8 3155.5 3739.8 4214.1 3281.2
3.Gross profit 383.9 376.0 361.5 278.4 285.0 224.6
8.Tax provision 1.3 0.2 0.3 0.2 0.6 0.4
F.Cash Flow Data
507
Karachi Electric Supply Corporation Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -3807.7 -7976.8 -16804.5 -28911.7 -45180.7 -51910.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4599.5 2445.8 2725.2 4545.0 2434.4 1957.6
(i)Cash 4544.0 2445.8 1834.7 3937.3 2334.1 1957.6
(ii)Investments 55.5 0.0 890.5 607.7 100.3 0.0
3.Inventories 0.0 0.0 0.0 4668.1 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 62505.8 60038.8 65531.4 77321.0 93043.7 130763.6
D.Operation:
1.Gross sales 36721.3 38603.2 41617.7 44859.5 49808.5 85224.1
(i)Local sales 36721.3 38603.2 41617.7 44859.5 49808.5 85224.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 41194.5 46978.0 52034.7 51960.7 51462.4 91826.6
3.Gross profit -4473.2 -8374.8 -10417.0 -7101.2 -1653.9 -6602.5
8.Tax provision 187.9 199.1 212.9 227.5 252.6 0.0
F.Cash Flow Data
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 14.8 - -3.0 -1.9 -1.6 0.0
15.Return on Equity (D7 as % of A3) 4.7 -31.2 -24.1 -69.6 -1742.3 0.0
508
Kohinoor Energy Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2764.1 3122.0 3797.2 4629.2 4861.8 5005.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1066.8 873.4 628.9 398.0 139.3 664.1
(i)Cash 1066.8 873.4 628.9 398.0 139.3 664.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 121.1 130.7 144.6 209.4 85.6 311.2
C.Fixed Assets:
4.Total assets (B4+C2) 6854.6 6765.9 6728.4 7187.0 7348.8 6917.4
D.Operation:
1.Gross sales 2477.4 2918.6 5506.1 5333.1 7387.9 8334.3
(i)Local sales 2477.4 2918.6 5506.1 5333.1 7387.9 8334.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1406.1 1879.0 4271.5 4180.6 6432.2 7240.0
3.Gross profit 1071.3 1039.6 1234.6 1152.5 955.7 1094.3
8.Tax provision 6.3 7.9 9.8 7.1 659.7 321.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -168.6 -211.4 195.9 681.5 156.8 143.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - 344.2 85.5 -216.1 -115.7
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -2.7 17.8 88.7 -3.1 38.5 12.8
509
Kohinoor Power Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 279.7 254.2 149.0 201.4 225.4 257.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.5 0.5 0.7 0.6 5.4 1.8
(i)Cash 0.5 0.5 0.7 0.6 5.4 1.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 4.3 12.6 10.9 7.3 11.0 31.5
7.Net Current Assets(B4-B5) 186.3 98.2 -12.2 311.5 92.5 138.7
C.Fixed Assets:
4.Total assets (B4+C2) 744.5 735.1 674.8 593.0 382.0 416.3
D.Operation:
1.Gross sales 247.9 243.5 278.1 146.6 405.6 737.6
(i)Local sales 247.9 243.5 278.1 146.6 405.6 737.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 241.3 269.0 382.7 186.6 375.8 690.3
3.Gross profit 6.6 -25.5 -104.6 -40.0 29.8 47.3
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -47.8 -61.1 -90.6 317.0 -211.6 57.4
6.Self financing ratio (E2 as % of E1) - - 96.2 -12.2 -10.1 87.8
7.Cash flow ratio F1 as % of F2 - - 95.6 -7.0 -17.6 90.8
510
Kot Addu Power Co. Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - 13742.5 11319.1 10058.2 12523.1 14277.4
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 3762.5 4366.1 209.0 179.4 400.4
(i)Cash - 3762.5 4366.1 209.0 179.4 400.4
(ii)Investments - 0.0 0.0 0.0 0.0 0.0
3.Inventories - 2621.8 1129.7 1759.5 2191.6 1967.2
7.Net Current Assets(B4-B5) - 7684.1 -2634.2 -2404.3 1503.0 4580.4
C.Fixed Assets:
4.Total assets (B4+C2) - 36729.7 34277.6 38928.4 56962.1 59955.9
D.Operation:
1.Gross sales - 29920.8 32833.4 37086.7 55947.1 69363.9
(i)Local sales - 29920.8 32833.4 37086.7 55947.1 69363.9
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 20184.3 22998.3 28343.3 46600.5 58373.1
3.Gross profit - 9736.5 9835.1 8743.4 9346.6 10990.8
8.Tax provision - 41.0 116.0 2491.7 2601.0 2876.3
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - -11277.2 -1260.9 2495.8 1728.0
2.Retention in business (D7-D8-D9) - 4306.7 1350.5 -189.5 661.1 168.9
3.Finance from outside the company (E1-E2) - - -12627.7 -1071.4 1834.7 1559.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - - -9687.3 327.7 4054.0 3225.8
7.Cash flow ratio F1 as % of F2 - 0.0 -30.4 426.9 54.7 51.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 820.0 6.5 -12.2 7.0 7.6
511
Mari Gas Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2129.5 1111.6 2244.8 2811.7 2519.1 -2011.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2083.6 2940.0 3165.3 2829.2 2214.6 1694.6
(i)Cash 2083.6 2940.0 3165.3 2829.2 2214.6 1694.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 7058.9 6637.4 8147.6 8602.4 9278.5 15848.8
D.Operation:
1.Gross sales 14257.3 15937.1 19651.9 22211.1 21566.3 5789.2
(i)Local sales 14257.3 15937.1 19651.9 22211.1 21566.3 5789.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 11839.5 13579.9 17191.7 18993.7 15706.3 3243.4
3.Gross profit 2417.8 2357.2 2460.2 3217.4 5860.0 2545.8
8.Tax provision 267.5 472.8 516.5 902.2 1560.8 488.5
3.Finance from outside the company (E1-E2) -1603.7 -1335.3 936.9 93.1 -2073.0 -5618.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -681.3 -909.9 1295.6 833.6 344.4 -3693.1
6.Self financing ratio (E2 as % of E1) - - -3.1 79.5 1099.5 -46.7
7.Cash flow ratio F1 as % of F2 - - 27.7 88.8 701.9 -52.1
512
National Refinery Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 4444.0 6252.5 8699.7 12061.9 16607.5 16547.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1714.8 7844.2 7761.1 11492.2 16737.5 7997.7
(i)Cash 1714.8 7844.2 7761.1 11492.2 13122.1 7800.1
(ii)Investments 0.0 0.0 0.0 0.0 3615.4 197.6
3.Inventories 3639.9 3205.9 6475.2 7687.4 13288.3 12251.2
C.Fixed Assets:
4.Total assets (B4+C2) 16883.5 18411.3 24912.0 32623.5 46592.7 42338.7
D.Operation:
1.Gross sales 46265.6 69141.5 96635.0 109146.0 146233.2 109578.3
(i)Local sales 41511.2 60000.3 84005.9 92926.2 124753.7 96153.1
(ii)Export sales 4754.4 9141.2 12629.1 16219.8 21479.5 13425.2
2.Cost of Sales 43309.1 65305.5 91636.2 102882.2 135552.5 104304.9
3.Gross profit 2956.5 3836.0 4998.8 6263.8 10680.7 5273.4
8.Tax provision 982.4 1279.9 1745.6 2003.1 2917.2 1024.3
F.Cash Flow Data
513
Oil & Gas Development Company Ltd. (OGDC) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 30109.5 41544.5 49209.9 28857.4 29554.1 83162.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 26435.1 40236.3 35126.6 7666.2 9890.1 6876.9
(i)Cash 25307.4 37799.2 1186.9 4720.3 6715.0 3973.8
(ii)Investments 1127.7 2437.1 33939.7 2945.9 3175.1 2903.1
3.Inventories 8086.0 32.4 65.6 93.8 151.8 108.3
C.Fixed Assets:
4.Total assets (B4+C2) 95926.3 114578.9 118763.5 100588.2 113760.4 177992.4
D.Operation:
1.Gross sales 51326.3 86056.7 113384.4 117134.4 139626.3 130829.6
(i)Local sales 51326.3 86056.7 113384.4 117134.4 139626.3 130829.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 16243.8 35605.5 47458.8 47593.1 52124.1 39352.0
3.Gross profit 35082.5 50451.2 65925.6 69541.3 87502.2 91477.6
8.Tax provision 7364.5 13414.4 19073.9 14616.0 21039.8 16799.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - 11435.0 7665.4 -20352.5 696.7 53608.0
3.Finance from outside the company (E1-E2) - 1634.9 -309.5 -27782.7 -15712.1 24961.8
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - 16894.4 13620.6 -17118.0 4050.8 57415.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 60.6 34.2 -7.8 29.1 3.3
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 67.7 31.8 3.3 19.2 -6.3
514
Pakistan Oilfields Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 6182.7 9969.3 12653.3 17505.0 23398.7 23569.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5946.8 7916.5 12259.0 11908.0 17639.6 13719.5
(i)Cash 5062.5 5240.2 3923.8 3173.3 7424.7 3945.7
(ii)Investments 884.3 2676.3 8335.2 8734.7 10214.9 9773.8
3.Inventories 20.7 30.2 62.8 69.2 57.6 89.4
C.Fixed Assets:
4.Total assets (B4+C2) 12703.5 15840.0 23241.2 25020.4 32867.9 34724.6
D.Operation:
1.Gross sales 7753.8 10081.0 17732.1 16331.1 18722.4 14046.8
(i)Local sales 7753.8 10081.0 17732.1 16331.1 18722.4 14046.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 4732.4 4690.0 9143.4 7794.6 8087.5 5754.5
3.Gross profit 3021.4 5391.0 8588.7 8536.5 10634.9 8292.3
8.Tax provision 859.0 896.0 2011.9 1457.0 2479.2 531.5
F.Cash Flow Data
515
Pakistan Petroleum Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - 16782.6 23965.6 33089.4 35929.2 54760.0
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 11317.4 17635.3 22980.7 23844.4 16480.4
(i)Cash - 10665.6 17326.9 787.4 1094.9 1384.4
(ii)Investments - 651.8 308.4 22193.3 22749.5 15096.0
3.Inventories - 0.0 0.0 1474.7 0.0 0.0
9.Net liquid assets (B1-B5) - 3304.2 7579.2 12778.8 6553.0 -3277.0
C.Fixed Assets:
4.Total assets (B4+C2) - 31716.2 40959.5 50218.9 60842.5 82916.2
D.Operation:
1.Gross sales - 32815.9 43565.3 51079.7 57884.7 61580.1
(i)Local sales - 32815.9 43565.3 51079.7 57884.7 61580.1
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 19146.6 23724.4 26538.4 28378.3 20624.5
3.Gross profit - 13669.3 19840.9 24541.3 29506.4 40955.6
8.Tax provision - 4796.2 6436.5 8015.1 9366.7 14082.2
3.Finance from outside the company (E1-E2) - - -2780.7 -4141.7 -5852.3 2569.7
F.Cash Flow Data
516
Pakistan Refinery Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1387.4 3097.9 4301.5 4483.7 6441.8 1822.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.2 249.6 2413.7 1954.1 2704.7 3967.1
(i)Cash 4.3 248.7 2363.1 1698.3 2646.1 3909.8
(ii)Investments 0.9 0.9 50.6 255.8 58.6 57.3
3.Inventories 2441.4 2040.9 3843.6 5107.8 9102.1 8367.3
C.Fixed Assets:
4.Total assets (B4+C2) 6189.1 7656.4 12004.3 14665.1 23758.0 32560.1
D.Operation:
1.Gross sales 28670.4 44442.1 71991.2 67385.9 107300.8 76861.1
(i)Local sales 28670.4 44442.1 71991.2 67385.9 107300.8 76861.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 27357.3 41505.3 69589.7 66610.0 102969.0 79874.2
3.Gross profit 1313.1 2936.8 2401.5 775.9 4331.8 -3013.1
8.Tax provision 0.0 878.5 726.6 288.4 1153.2 85.9
F.Cash Flow Data
517
Pakistan State Oil Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 13350.5 16776.7 18943.1 19097.8 29144.4 19086.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3479.3 4006.4 5177.9 4512.9 5719.7 5036.6
(i)Cash 1583.1 1921.9 1898.9 1522.3 3018.6 2883.1
(ii)Investments 1896.2 2084.5 3279.0 2990.6 2701.1 2153.5
3.Inventories 14970.6 20583.3 28168.6 29562.1 62360.1 40698.2
C.Fixed Assets:
4.Total assets (B4+C2) 42291.4 51933.9 70013.7 74611.2 127004.5 153352.7
D.Operation:
1.Gross sales 195109.7 254363.0 353833.3 411990.0 583214.0 612695.6
(i)Local sales 195109.7 254363.0 353833.3 411990.0 583214.0 612695.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 185939.1 240616.7 336626.1 399730.5 553190.3 609685.5
3.Gross profit 9170.6 13746.3 17207.2 12259.5 30023.7 3010.1
8.Tax provision 2030.0 3236.9 4335.7 2483.7 7392.7 201.5
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] 141.0 148.6 125.5 128.8 347.0 -1400.4
518
S.G. Power Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 159.5 174.1 138.4 124.0 104.1 96.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 14.8 1.7 9.1 0.1 0.1 0.0
(i)Cash 14.8 1.7 9.1 0.1 0.1 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 398.1 422.0 343.3 314.2 292.4 286.9
D.Operation:
1.Gross sales 191.9 184.9 200.1 64.8 0.0 0.0
(i)Local sales 191.9 184.9 200.1 64.8 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 161.2 171.8 220.3 78.6 16.3 6.3
3.Gross profit 30.7 13.1 -20.2 -13.8 -16.3 -6.3
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
3.Net profit margin (D7 as % of D1) 9.6 4.4 -17.2 -22.4 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 5.9 -3.6 8.2 -67.6 -100.0 -
519
Shell Gas LPG (Pakistan) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 102.2 176.7 166.3 115.0 -33.9 42.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 145.6 7.5 77.4 5.2 52.6 193.5
(i)Cash 26.0 7.5 40.4 5.2 52.6 193.5
(ii)Investments 119.6 0.0 37.0 0.0 0.0 0.0
3.Inventories 11.8 11.3 17.2 71.2 22.1 25.8
C.Fixed Assets:
4.Total assets (B4+C2) 575.9 676.1 877.5 846.1 827.9 853.0
D.Operation:
1.Gross sales 865.5 998.5 1673.9 1753.4 1295.2 1239.6
(i)Local sales 865.5 998.5 1673.9 1753.4 1295.2 1239.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 680.3 806.1 1469.6 1642.3 1256.4 992.8
3.Gross profit 185.2 192.4 204.3 111.1 38.8 246.8
8.Tax provision 31.7 28.7 17.0 7.6 5.6 0.0
F.Cash Flow Data
520
Shell Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 5781.9 8037.4 9637.9 8893.7 5557.8 271.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2443.6 2629.1 2858.2 2830.0 8568.1 3182.4
(i)Cash 566.6 752.1 981.2 814.5 6549.9 869.6
(ii)Investments 1877.0 1877.0 1877.0 2015.5 2018.2 2312.8
3.Inventories 4537.0 6608.2 9979.9 8244.1 9004.3 13076.7
C.Fixed Assets:
4.Total assets (B4+C2) 15344.1 20323.1 28134.0 29192.7 39259.3 26339.3
D.Operation:
1.Gross sales 90663.5 112043.4 133636.6 131040.2 84900.8 156000.1
(i)Local sales 90663.5 112043.4 133636.6 131040.2 77990.4 141347.2
(ii)Export sales 0.0 0.0 0.0 0.0 6910.4 14652.9
2.Cost of Sales 84456.3 103201.4 124233.1 125266.8 87849.7 143097.9
3.Gross profit 6207.2 8842.0 9403.5 5773.4 -2948.9 12902.2
8.Tax provision 609.8 1281.4 1461.7 89.8 85.8 210.8
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] 128.7 - 238.6 33.0 -248.4 163.7
521
Sitara Energy Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 810.1 769.7 776.7 777.9 865.0 923.5
5.Debentures 0.0 0.0 0.0 20.0 980.0 1040.0
B.Liquidity:
1.Liquid Assets: 62.6 56.1 57.2 53.0 26.2 60.9
(i)Cash 12.6 6.1 7.2 3.0 26.2 10.9
(ii)Investments 50.0 50.0 50.0 50.0 0.0 50.0
3.Inventories 35.6 112.1 45.2 41.6 169.3 0.0
7.Net Current Assets(B4-B5) 365.5 115.5 61.2 -253.6 -72.9 3.1
C.Fixed Assets:
4.Total assets (B4+C2) 1391.7 1748.0 2095.7 2861.5 3299.9 3440.9
D.Operation:
1.Gross sales 1121.9 1340.3 1558.6 1691.9 2644.0 3009.9
(i)Local sales 1121.9 1340.3 1558.6 1691.9 2644.0 3009.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 984.0 1321.0 1453.9 1515.6 2276.9 2551.2
3.Gross profit 137.9 19.3 104.7 176.3 367.1 458.7
8.Tax provision 0.2 0.3 0.3 0.3 0.4 1.4
F.Cash Flow Data
522
Southern Electric Power Co. Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1022.8 1086.8 1107.8 812.6 514.9 661.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.3 11.4 21.8 99.3 41.2 4.5
(i)Cash 9.3 11.4 21.8 99.3 41.2 4.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 81.2 156.1 55.3 75.4 34.7 79.3
C.Fixed Assets:
4.Total assets (B4+C2) 7341.3 7509.4 7705.1 7797.5 7964.1 9248.6
D.Operation:
1.Gross sales 2261.3 2798.1 4240.6 4415.6 3989.3 1911.2
(i)Local sales 2261.3 2798.1 4240.6 4415.6 3989.3 1911.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1586.2 2319.2 3691.2 4163.2 3712.1 903.7
3.Gross profit 675.1 478.9 549.4 252.4 277.2 1007.5
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
523
Sui Northern Gas Pipelines Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 6603.2 18030.0 10110.1 10780.7 11618.4 10385.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9353.4 8320.0 15405.4 13551.2 8653.1 1321.8
(i)Cash 8519.6 8315.1 15400.5 13546.2 8137.1 1316.9
(ii)Investments 833.8 4.9 4.9 5.0 516.0 4.9
3.Inventories 275.8 346.4 445.8 473.4 525.4 783.4
C.Fixed Assets:
4.Total assets (B4+C2) 56924.7 65076.4 77229.9 83633.1 97618.2 122077.3
D.Operation:
1.Gross sales 74005.6 97487.7 107897.3 137187.4 124155.0 168933.8
(i)Local sales 74005.6 97487.7 107897.3 137187.4 124155.0 168933.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 62427.1 85302.7 94032.5 123778.6 109107.5 151337.3
3.Gross profit 11578.5 12185.0 13864.8 13408.8 15047.5 17596.5
8.Tax provision 802.3 1054.2 1515.7 1107.6 626.3 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 20.1 -22.3 -1279.7 48.5 -43.1
524
Sui Southern Gas Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 5119.5 4441.1 4477.8 2965.1 3533.8 2927.9
5.Debentures 1165.7 416.3 0.0 2987.7 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3245.3 1435.7 4071.8 5504.4 4513.9 2744.0
(i)Cash 3040.8 1269.2 3814.6 5267.6 4356.4 1477.2
(ii)Investments 204.5 166.5 257.2 236.8 157.5 1266.8
3.Inventories 198.4 227.3 281.4 368.9 512.4 490.5
C.Fixed Assets:
4.Total assets (B4+C2) 31836.8 37621.5 47023.4 61857.7 71633.4 100510.0
D.Operation:
1.Gross sales 54444.6 62511.7 77562.3 85716.7 86829.3 108151.1
(i)Local sales 54444.6 62511.7 77562.3 85716.7 86829.3 108151.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 48358.0 56621.7 70853.1 79789.4 79425.2 102388.9
3.Gross profit 6086.6 5890.0 6709.2 5927.3 7404.1 5762.2
8.Tax provision 825.5 197.4 417.1 370.2 415.5 0.0
F.Cash Flow Data
525
The Hub Power Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 18076.1 20097.6 18408.2 17475.5 16896.6 17958.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5803.8 6038.1 3363.3 742.9 662.2 1690.3
(i)Cash 5803.8 6038.1 3363.3 742.9 662.2 1033.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 656.5
3.Inventories 1513.8 1251.0 1890.9 2563.8 1564.2 2540.9
C.Fixed Assets:
4.Total assets (B4+C2) 51772.8 46628.0 43509.9 44988.4 62694.3 90183.5
D.Operation:
1.Gross sales 16678.1 17909.5 30915.7 49575.0 70428.6 82783.9
(i)Local sales 16678.1 17909.5 30915.7 49575.0 70428.6 82783.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 8781.9 10752.5 26557.3 45411.2 65678.7 76687.1
3.Gross profit 7896.2 7157.0 4358.4 4163.8 4749.9 6096.8
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -184.1 667.9 -1015.8 -254.7 107.8 6817.4
6.Self financing ratio (E2 as % of E1) - - -23.5 33.7 -7.2 -1.9
526
Tri-Star Power Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 37.8 37.8 96.5 122.6 122.6 122.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 66.0 66.0 152.3 183.4 183.4 183.4
(i)Cash 0.3 0.3 0.0 0.0 0.0 0.0
(ii)Investments 65.7 65.7 152.3 183.4 183.4 183.4
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 188.5 188.5 249.2 275.5 275.5 275.5
D.Operation:
1.Gross sales 8.0 8.0 0.0 0.0 0.0 0.0
(i)Local sales 8.0 8.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 5.3 4.8 4.8 4.8
3.Gross profit 8.0 8.0 -5.3 -4.8 -4.8 -4.8
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 37.5 37.5 -0.8 -0.4 -8.5 -8.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 0.0 -100.0 -100.0 - -
527
Altern Energy Limited
Descon Headquarter, 18-KM Ferozpur Road, Lahore.
Mr. Abdul Razzak Dawood(Chairman) Bank Al-Falah Ltd. KPMG Taseer Hadi & Co.
Mr. Sabeeh ud-din Farooqi(Chief Executive) Bank of Punjab Ltd.
Mr. Khalid Salman Khan(Director) MCB Bank Ltd.
Syed Zamanat Abbas(Director) Habib Bank Ltd.
Shaikh Azhar Ali(Director) Standard Chartered Bank ( Pakistan) Ltd.
Syed Ali Nazir Kazmi(Director)
Shah Muhammad Chowdhary(Director)

Power generation GWH 3543 3505
Attock Petroleum Ltd.

6, Faisal Avenue, F-7/1, Islamabad.
Dr. Ghaith R. Pharaon(Chairman) Allied Bank Ltd. M/s. A. F. Fergusan & Co.
Mr. Shuaib A. Malik(Chief Executive) Habib Bank Ltd.
Mr. Laith G. Pharaon(Director) Faysal Bank Ltd.
Mr. Wale G. Pharaon(Director) National Bank of Pakistan.
Mr. M. Adil Khattak(Director) My Bank Ltd.
Mr. Babar Bashir Nawaz(Director) NIB Bank Ltd.
Mr. Munaf Ibrahim(Director) Silk Bank Ltd.

Oil distribution Indeterminable
528
Attock Refinery Ltd.
The Refinery, Morgah, Rawalpindi.
Dr. Ghaith R. Pharaon(Chairman) Faysal Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Adil Khattak(Chief Executive) Habib Bank Ltd.
Mr. Shuaib Anwar Malik(Deputy Chairman) MCB Bank Ltd.
Mr. Wael Ghaith Pharaon(Director) Saudi Pak Leasing Co. Ltd.
Mr. Tariq Iqbal Khan(Director) United Bank Ltd.
Mr. Laith Ghaith Pharaon(Director)
Mr. Arib Habib(Director)

Refining crude oil million US barrel 14,320 14,901
Byco Petruleum (Bosicor Pakistan Limited.)

2nd Floor, Business Plaza, Mumtaz Hussain Road, Karachi.
Mr. Amir Abbassciy(Chairman) Bank Alfalah Ltd. M/S Faruq Ali & Co.
Mr. Hamid Imtiaz Hanfi(Vice President) Habib Bank Ltd.
Mr. Kashif Shah(Director) Allied Bank Ltd.
Mr. Muhammad Rashid Zahir(Director) Bankislami Pakistan Ltd.
Syed Arshad Raza(Director) Habib Metropolitan Bank Limted
Mrs. Uzma Abbassciy(Director) Askari Bank Ltd.
Mrs. Saima Roomi(Director) JS Bank Ltd.

Oil refining US barrels (in thous.) 7,020 7,168
529
Generteck Pakistan Ltd.
31/C-1, Ghalib Road, Gulberg-III, Lahore.
Mr. Jahangir Elahi(Chairman / C.E.O.) Faysal Bank Ltd. M/S Zahid Jamil & Co.
Mr. Tanvir Elahi(Director) MCB Bank Ltd.
Mr. Amir Jahangir(Director) The Bank Of Punjab
Mr. Muhammad Ashfaq Nadeem(Director) United Bank Ltd.
Mr. Shahrukh Elahi(Director)
Mr. Tariq Latif(Director)
Sheikh Muhammad Ashraf(Director)

Power generation MWH 167141 19535
Ideal Energy Ltd.

404, 4th Floor, Business Centre, Dunnally Road, Karachi.
Mr. Nisar Ahmed Shaikh(Chairman) Faysal Bank Ltd. M/s. Riaz Ahmed & Co.
Mr. Muhammad Arshad Shaikh(Chief Executive) Habib Bank Ltd.
Mr. Amjad Saeed(Director)
Mr. Muhammad Anwar Sajjad(Director)
Mr. Muhammad Saeed(Director)
Mr. Shahzad Ahmed(Director)
Mrs. Noureen Shahzad(Director)

Power generation Mega Watt hours 96,480 2,875
530
Japan Power Generation Ltd.
Near Jia Bagga Railway Station, Off. Raiwind Road, Chowk Araian, Lahore.
Col. (R) Shahid Qamar Yazdanie(Chairman) Silk Bank Ltd. M/S Hyder Bhimji & Co.
Mr. Khan Ahmed Saleem(Chief Executive) Askari Bank Ltd.
Syed Mujahid Hussain Naqvi(Director) RBS Bank Ltd.
Mr. Mansoor-ur-Rehman(Director) National Bank of Pakistan.
Mr. Muhammad Hanif Abbasi (NBP)(Director) Faysal Bank Ltd.
Mr. Shahbaz Jameel(Director) Allied Bank Ltd.
Mr. Muhammad Faisal israr(Director) Samba Bank Limited

Power generation MWH 1,055,580 256,870
Karachi Electric Supply Corporation Ltd.

6th Floor, State Life Building NO.11, Abdullah Haroon Road, Karachi
Mr. Wawar Hassan Siddiquie(Chairman) Allied Bank Of Pakistan Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Naveed Ismail(Chief Exec. Officer) Askari Commercial Bank Ltd.
Mr. Farrukh Abbas(Director) Citibank N.A.
Mr. Shan A. Ashary(Director) Bank Al-Falah Ltd.
Mr. Zulfiqar Haider Ali(Director) Habib Bank Ltd.
Mr. Tabish Gauhar(Director) MCB Bank Ltd.
Mr. Fazal Ahmad Khan(Director) National Bank Of Pakistan

Electric genaration electric units 1,611 MW 8,262.0 million KWH
531
Kohinoor Energy Ltd.
1404,14th Floor, Green Trust Tower, Blue Area, Islamabad.
Mr. M. Naseem Saigol(Chairman) ABN Amro Bank N.V. M/s. A. F. Ferguson & Co.
Mr. Muneki Udaka(Chief Executive) U.S.Bank New York (Off Share Trustee)
Mr. Shinichi Ushijima(Director) Bank Alfalah Ltd.
Shaikh Muhammad Shakeel(Director) Standard Chartered Bank
Mr. Ghazanfar Ali Zaidi(Director) Faysal Bank Limited
Mr. Ghazanfar Ali Kh (Wartsila Diesel Oy Finland
Mr. Hiroshie Uga(Director)

Power generation MWH 1,086,240 872,630
Kohinoor Power Company Ltd.

Mr. M. Naseem Saigol(Chairman / C.E.O.) Askari Bank Ltd. M/s. Manzoor Hussain Mir & Co.
Mr. Muhammad Omer Farooq(Director) Bank Al-Falah Ltd.
Mr. M. Azam Saigol(Director) Habib Bank Ltd.
Mr. Muhammad Asif Bajwa(Director) MCB Bank Ltd.
Mr. Muhammad Athar Rafiq(Director) National Bank Of Pakistan
Mr. Shahid Sethi(Director) Faysal Bank Ltd.
Mr. Rashid Ahmad Javaid(Director) Standard Chartered Bank ( Pakistan) Ltd.

Electricity production M.W. 122,530 76,131
532
Kot Addu Power Co. Ltd.
House No. 6, Street No. 56, F-8/4, Islamabad.
Mr. Shakil Durrani(Chairman) NIB Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Aftab Mahmood Butt(Chief Execuative) Allied Bank Ltd.
Mr. Malcolm P. Clampin(Director) United Bank Ltd.
Mr. Vinece Richard Harris OBE(Director) Bank Al-Falah Ltd.
Mr. Anwar-ul-Haq(Director) RBS Bank Ltd.
Mr. Muhammad Azhar Iqbal(Director) Citibank N.A.
Mr. Khalid Rashid(Director) Standard Chartered Bank ( Pakistan) Ltd.

Power generation M.Wh. 11,755,920 7,545,364
Mari Gas Company Ltd.

21 Mauve Area, 3rd Road, Sector G-10/4, Islamabad.
Lt. Gen. Hamid Rab Nawaz(Chairman) Habib Bank Ltd. M/S Yousuf Adil Saleem & Co.
Lt.Gen.(Retd.) Mushtaq Hussain(M.D. / C.E.O.) National Bank Of Pakistan
Mr. Qaiser Javed(Director) Bank Alfalah Ltd.
Brig.(Retd.) Rahat Khan(Director) Hong Kong & Shanghai Banking Corp.
Brig.(Retd.) Arif Rasul Qureshi(Director) Allied Bank Of Pakistan Ltd.
Dr. Nadeem Inayat(Director) Askari Bank Ltd.
Mr. Muhammad Razi Abbas(Director) United Bank Ltd.

Oil & gas exploration
533
National Refinery Ltd.
7-B, Korangi Industrial Zone, P.O.Box.8228, Karachi-74900
Dr. Ghaith R. Pharaon(Chairman) Faysal Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Shuaib A. Malik(Director) Habib Metropolitan Bank Limted
Mr. Laith A. Pharaon(Director) Habib Bank Ltd.
Mr. Wael G. Pharaon(Director) Natioanl Bank of Paksitan
Mr. Abdus Sattar(Director) United Bank Ltd.
Mr. Tarik Kivanc(Director)
Mr. Firasat Ali(Director)

Refineing of crude oil for fuel M.Tons 2,710,500 2,423,683
Refineing of crude oil for lube M.Tons 620,486 673,666
Oil & Gas Development Company Ltd. (OGDC)

OGDCL House, Plot No. 3, F-6/G-6, Blue Area, Jinnah Avenue, Islamabad
Mr. Farooq Rahmatullah(Chairman) National Bank of Pakistan. KPMG Taseer Hadi & Co.
Mr. Zahid Hussain(M.D. / C.E.O.) Habib Bank Ltd. M/s M. Yousuf Adil Saleem & Co.
Mr. Muhammad Ejaz Chaudhry(Director) Faysal Bank Ltd.
Mr. Tariq Iqbal Khan(Director) Bank Alfalah Ltd.
Mr. Sikander Hayat Jamali(Director) Bank Al-Habib Ltd.
Mr. Waqar A Malik(Director) Habib Metropolitan Bank Ltd.
Mr. Rafique Dawood(Director) Askari Bank Ltd.

534
Pakistan Oilfields Ltd.
P.O L. House, Morgah, Rawalpindi
Mr. Shuaib A. Malik(Chairman) Askari Bank Ltd. M/S A. F. Ferguson & Co.
Mr. Sajid Nawaz(Chief Executive) Faysal Bank Ltd.
Mr. Arif Kemal(Director) Habib Bank Ltd.
Mr. Muhammad Najam Ali(Director) MCB Bank Ltd.
Dr. Ghaith R. Pharaon(Director) United Bank Ltd.
Mr. Laith G. Pharaon(Director)
Mr. Wael G. Pharaon(Director)

Pakistan Petroleum Ltd.

PIDC House, Dr. Ziauddin Ahmed Road, Karachi-75530.
Mr. M.A.K. Alizai(Chairman) Allied Bank Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Khalid Rahman(M.D. / C.E.O.) Askari Bank Ltd.
Mr. S.R. Poonegar(Director) Bank Al-Falah Ltd.
Mr. Sajid Zahid(Director) Bank Al-Habib Ltd.
Mr. Irshad Ahmed Kaleemi(Director) Citibank N.A.
Mr. Pervaiz Kausar(Director) Deutsche Bank A.G.
Mr. Khushhal Khan(Director) Faysal Bank Ltd.

535
Pakistan Refinery Ltd.
P.O.Box No. 4612, Korangi Creek Road, Karachi-74900
Mr. Farooq Rahmatullah(Chairman) RBS Bank Ltd. M/s A. F. Ferguson & Co.
Mr. Ijaz Ali Khan(M.D. / C.E.O.) Bank Al-Habib Ltd.
Mr. Ardeshir Cowasjee(Director) HSBC Bank Middle East Ltd.
Mr. Zaiviji Ismail Bin Abdullah(Director) Askari Bank Ltd.
Mr. Irfan K. Qureshi(Director) Bank Al-Falah Ltd.
Mr. Asif Sindhu(Director) Citibank N.A.
Mr. Sabar Husain(Director) Habib Metropolitan Bank Ltd.

Crude oil refining M. Tons 2,133,705 1,888,326
Pakistan State Oil Company Ltd.

PSO House, Khayaban-e-Iqbal, P.O.Box No. 3983, Clifton, Karachi
Sardar Muhammad Yasin Malik(Chairman) RBS Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Irfan K. Qureshi(Managing Director) Allied Bank Of Pakistan Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Mohammad Ejaz Chaudhry(Director) Habib Metropolitan Bank Ltd.
Mr. Mohammad Akhtar(Director) Askari Bank Ltd.
Mr. Muhammad Yousaf Qamar Hussain Siddiqui Bank Al-Habib Ltd.
Mr. Arshad Said(Director) Bank Alflah Limited
Mr. Istaqbal Mehdi(Director) Citibank N.A.

Oil distribution
536
S.G. Power Ltd.
Plot No. B-40, S. I. T. E., Karachi
Mr. S. M. Ahmed(Chairman / C.E.O.) Habib Bank Ltd. M/S Muniff Ziauddin & Co.
Mst. Ghazala Ahmed(Director) Soneri Bank Ltd.
Mr. Rafiq Ahmed(Director) Mybank Ltd.
Mrs. Tania Asim(Director)
Mr. Abdul salam(Director)
Mr. mohammad Hanif(Director)
Mst. Zubaida Khatoon(Director)

Electricity KWH 91,419,360 Nil
Steam Kilograms 50,280,648 Nil
Shell Gas LPG (Pakistan) Ltd.

Adjacent to Pakistan Refinery Ltd., Korangi Creek, Karachi
Mr.Zaiviji Ismail bin Abdullah(Chairman) Citibank N.A. M/S A. F. Ferguson & Co.
Ms. Fawzia Kazmi(G.M. / C.E.O.) Habib Bank Ltd.
Mr. Adam Harrison(Director) MCB Bank Ltd.
Ms. Sok Mei Wong(Director) Standard Chartered Bank Ltd.
Mr. Istaqbal Mehdi(Director) National Bank of Pakistan
Mr. Sameer Amin(Director) United Bank Ltd.
Ms. Khurshid Bhaimia(Director) Royal Bank of Scotland

LPG bottle filling M. Tons per day 85 indeterminable
537
Shell Pakistan Ltd.
Shell House, 6, Ch. Khaliquzzaman Road, Karachi
Mr. Zaiviji Ismail bin Abdullah(Chairman / C.E.O. Bank Al-Habib Ltd. M/S A. F. Ferguson & Co.
Ms. Shahnaz Wazir Ali(Director) Citibank N.A.
Mr. Rafi H. Basheer(Director) Habib Bank Ltd.
Mr. Farrakh K. Captain(Director) MCB Bank Ltd.
Mr. Michael Noll(Director) United Bank Ltd.
Mr. Badaruddin F. Vellani(Director)
Mr. Yousuf Ali(Director)

Oil distribution
Sitara Energy Ltd.

601-602 Business Centre, Mumtaz Hassan Road, Karachi-74000.
Mr. Javed Iqbal(Chief Executive) Al-Baraka Islamic Bank B.S.C.(E.C.) M/s Avais Hyder Liaquat Nauman & Co.
Mr. Muhammad Anis(Director) Allied Bank Of Pakistan Ltd.
Mr. Imran Ghafoor(Director) Faysal Bank Ltd.
Mr. Muhammad Adrees(Director) National Bank Of Pakistan
Mrs. Sharmeen Imran(Director) Standard Chartered Bank ( Pakistan) Ltd.
Miss Hiniah Javed(Director) The Bank Of Punjab
Mrs Naureen Jawed(Director) Bank Al-Falah Ltd.

Power generation Mega Watt Hours 713,590 371,785
538
Southern Electric Power Co. Ltd.
No. 38, First Street, F-6/3, Islamabad.
Mr. Taj ud Deen Kurji(Chairman / C.E.O.) Faysal Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Anthony Rustin(Director) RBS Bank Ltd.
Mr. Klaus Triendl(Director) United Bank Limited
Ms. Carole Linda Idris(Director) Natioanl Bank of Paksitan
Mr. S. M. Ghalib(Director) Askari Bank Ltd.
Mr. Stephane Mailhot(Director)
Mr. Rashid Mirza(Director)

Electric Generation MWH 119,458 48,202
Sui Northern Gas Pipelines Ltd.

Gas House, 21-Kashmir Road,P.O.Box # 56, Lahore
Mr. Tariq Iqbal Khan(Chairman) Allied Bank Of Pakistan Ltd. M/s Ford Rhodes Sidat Hyder & Co.
Mr. Abdul Rashid Lone(M.D. / C.E.O.) Citibank N.A. M/s Riaz Ahmad & Co.
Mr. Muhammad Razi Abbas(Director) Habib Bank Ltd.
Mr. S. M. Asghar(Director) MCB Bank Ltd.
Mr. A. Samad Dawood(Director) United Bank Ltd.
Mr. Arif Ibrahim(Director)
Mr. Abdul Bari Khan(Director)

Transmission of naturl gas HM3 459,234 504,034
539
Sui Southern Gas Company Ltd.
St-4/B Block-14, Sir Shah Muhammad Suleman Road, Gulshan-e-Iqbal, Karachi-75300
Mr. Salim Abbas Jilani(Chairman) Allied Bank Of Pakistan Ltd. M/s. KPMG Taseer Hadi & Co.
Mr. Umair Khan(Managing Director) Habib Bank Ltd.
Mr. Saeedullah Shah(Director) MCB Bank Ltd.
Mr. Zahid Hussain(Director) Union Bank Ltd.
Mr. Javiad Bashir Shaikh(Director) United Bank Ltd.
Mirza Mehmood Ahmad(Director)
Mr. Nassar Ahmed(Director)

Natural gas transmissios MMCF 509,328 422,282
The Hub Power Company Ltd.

C/o.Famco Associates (Pvt.) Ltd., 12, Capital Shopping Centre, 2nd Floor, G-11 Markaz, Islamabad.
Mr. Javed Mehmood(Chief Executive) Allied Bank Ltd. M/s. M. Yousaf Adil Saleem & Co.
Mr.M.A.Alireza,H.l.(Director) Citibank N.A.
Dr.Fereydoomn Abtahi(Director) National Bank Of Pakistan
Mr. R.A.Bramley(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Malcom Clampin(Director) Sumitomo Mitsui Banking Corporation London
Mr. Vince R. Harris(Director) Bank AL-Falah Limited
Mr. Arif Ijaz(Director) Pak China investment Company Limited

Power Generation G.Wh. 10,512 8,257
540
Tri-Star Power Ltd.
F/498, S.I.T.E. Karachi-75700
Mr. Mohammad Ahmad Ismail(Chairman / C.E.O Bank Al-Habib Ltd. M/s. Ghalib & Co.
Mr. Rashid Ahmad(Director) Citibank N.A.
Mr. Tahir Ahmad(Director) Habib Bank Ltd.
Mr. Habib Jamal(Director)
Mrs. Farnaz Ahmad(Director)
Mrs. Aliya Ahmad(Director)
()
Date of Annual General Meeting 29th August , 2009 Face Value Rs. 10.00

Power generation
541
Transport & Communication Sector
Transport And Communication Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 44666.6 56696.4 51480.4 33185.0 -8628.1 2474.9
5.Debentures 14760.9 16553.0 15395.9 12715.4 16796.6 20726.4
B.Liquidity:
1.Liquid Assets: 52598.0 45484.3 54475.9 57538.3 44360.8 59194.4
(i)Cash 42531.8 20681.5 36698.3 38268.7 26996.2 16156.6
(ii)Investments 10066.2 24802.8 17777.6 19269.6 17364.6 43037.8
3.Inventories 17578.8 104.7 56.5 8409.1 302.1 2021.7
C.Fixed Assets:
4.Total assets (B4+C2) 250664.7 247524.4 300646.4 318160.1 375449.9 371019.1
D.Operation:
1.Gross sales 159890.7 175385.9 173115.6 189668.8 207058.3 181041.7
(i)Local sales 159877.6 175385.9 171446.4 187797.6 206093.3 172951.8
(ii)Export sales 13.1 0.0 1669.2 1871.2 965.0 8089.9
2.Cost of Sales 92828.4 95220.8 109658.7 127060.6 152596.4 135293.0
3.Gross profit 67062.3 80165.1 63456.9 62608.2 54461.9 45748.7
8.Tax provision 16726.1 15111.6 11128.9 958.0 1297.6 4468.5
F.Cash Flow Data
544
Transport & Communication

400
350
300
250
%
200
150
100
50
0
2004 2005 2006 2007 2008 2009

Callmate Telips Telocom Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 4.1 417.0 745.4 384.7 384.7 384.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 202.0 392.0 33.2 19.1 19.1 19.1
(i)Cash 202.0 392.0 33.2 19.1 19.1 19.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 8.8 4.5 4.5 5.2 5.2 5.2
C.Fixed Assets:
4.Total assets (B4+C2) 847.5 2094.8 3279.5 3464.6 3464.6 3464.6
D.Operation:
1.Gross sales 1440.9 3276.9 4536.9 3150.7 3150.7 3150.7
(i)Local sales 1440.9 3276.9 3360.7 2187.3 2187.3 2187.3
(ii)Export sales 0.0 0.0 1176.2 963.4 963.4 963.4
2.Cost of Sales 1183.7 2218.4 3398.0 2561.0 2561.0 2561.0
3.Gross profit 257.2 1058.5 1138.9 589.7 589.7 589.7
8.Tax provision 7.2 162.3 16.2 15.0 15.0 15.0
3.Finance from outside the company (E1-E2) - -92.8 -92.2 336.8 591.0 591.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - 494.8 579.5 -112.4 141.8 141.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 482.6 -27.6 -190.7 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 127.4 38.5 -30.6 0.0 0.0
546
Eye Television Network Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - -150.3 -100.1 -2.2 224.1 217.6
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 29.0 12.1 31.2 64.0 63.9
(i)Cash - 29.0 12.1 31.2 64.0 63.9
(ii)Investments - 0.0 0.0 0.0 0.0 0.0
3.Inventories - 0.3 0.1 101.8 0.8 0.8
C.Fixed Assets:
4.Total assets (B4+C2) - 245.2 518.5 685.9 1017.3 1190.8
D.Operation:
1.Gross sales - 21.0 520.0 1154.4 1453.9 1116.9
(i)Local sales - 21.0 520.0 1154.4 1453.9 1116.9
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 95.0 439.5 863.7 864.6 443.2
3.Gross profit - -74.0 80.5 290.7 589.3 673.7
5.Operating profit - -142.0 -7.9 154.3 366.1 408.4
7.Net profit before tax (D5-D6) - -142.2 -8.4 146.3 354.9 371.1
8.Tax provision - 0.1 1.6 3.1 117.9 128.1
2.Retention in business (D7-D8-D9) - -142.3 -10.0 143.2 237.0 -22.0
3.Finance from outside the company (E1-E2) - - 230.6 12.3 -35.9 5.7
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - -130.8 10.4 169.3 266.3 7.8
5.Return on assets (D7 as % of C4) - -58.0 -1.6 21.3 34.9 31.2
15.Return on Equity (D7 as % of A3) - -71.2 -2.1 29.4 49.0 51.7
4.Earning per share before tax (D7/No. of ordinary shares) - -4.1 -0.2 2.9 7.1 7.4
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - -4.1 -0.2 2.9 4.7 4.9
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -510.0 -95.1 -1550.0 144.8 4.2
547
Media Times Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - - - -56.5
5.Debentures - - - - - 0.0
B.Liquidity:
1.Liquid Assets: - - - - - 84.2
(i)Cash - - - - - 9.2
3.Inventories - - - - - 95.4
7.Net Current Assets(B4-B5) - - - - - 325.3
C.Fixed Assets:
4.Total assets (B4+C2) - - - - - 2049.7
D.Operation:
1.Gross sales - - - - - 504.4
(i)Local sales - - - - - 504.4
2.Cost of Sales - - - - - 324.8
3.Gross profit - - - - - 179.6
F.Cash Flow Data
548
Netsol Technologies Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - 318.4 518.1 687.3 966.0 728.0
5.Debentures - 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - 63.9 142.5 82.7 143.1 243.2
(i)Cash - 18.9 127.3 67.5 127.9 228.0
(ii)Investments - 45.0 15.2 15.2 15.2 15.2
3.Inventories - 0.0 0.0 499.0 0.0 0.0
9.Net liquid assets (B1-B5) - -15.2 36.9 -204.2 -317.3 -182.8
C.Fixed Assets:
4.Total assets (B4+C2) - 654.4 986.5 1395.3 2041.7 2044.9
D.Operation:
1.Gross sales - 433.5 600.2 1082.4 1556.2 1081.3
(i)Local sales - 433.5 110.0 174.7 1556.2 154.4
(ii)Export sales - 0.0 490.2 907.7 0.0 926.9
2.Cost of Sales - 153.0 291.7 465.8 613.5 628.8
3.Gross profit - 280.5 308.5 616.6 942.7 452.5
8.Tax provision - 0.8 1.6 4.1 6.9 0.0
3.Finance from outside the company (E1-E2) - - 137.8 -197.9 -236.7 -263.4
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 690.0 -39.2 118.8 23.8 -70.0
549
Pak Datacom Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 118.3 187.2 260.4 323.4 398.1 512.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 92.4 191.1 194.1 193.2 178.8 361.3
(i)Cash 92.4 191.1 45.6 63.5 82.4 127.3
(ii)Investments 0.0 0.0 148.5 129.7 96.4 234.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 366.3 529.9 590.4 676.8 833.0 1001.2
D.Operation:
1.Gross sales 217.1 417.5 513.8 523.5 690.5 1042.1
(i)Local sales 204.0 417.5 511.0 523.5 688.9 1042.1
(ii)Export sales 13.1 0.0 2.8 0.0 1.6 0.0
2.Cost of Sales 109.0 184.8 241.0 301.0 420.8 814.5
3.Gross profit 108.1 232.7 272.8 222.5 269.7 227.6
8.Tax provision 9.6 36.8 48.8 52.5 43.0 88.7
F.Cash Flow Data
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 48.1 315.0 38.6 -12.2 10.4 42.2
550
Pakistan Int. Container Terminal Ltd. (Million Rupees)
Items 2004 2005 2006 2007 2008 2009
2.Surplus -40.8 194.9 506.9 832.7 1215.8 1874.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 133.2 521.5 757.7 841.5 1097.1 1052.0
(i)Cash 133.2 521.5 756.4 380.5 390.5 491.2
(ii)Investments 0.0 0.0 1.3 461.0 706.6 560.8
3.Inventories 0.0 0.0 0.0 168.5 0.0 0.0
9.Net liquid assets (B1-B5) -156.6 99.1 55.1 -76.3 -296.2 -817.2
C.Fixed Assets:
4.Total assets (B4+C2) 1849.6 2466.2 3600.6 4354.4 5740.0 7722.9
D.Operation:
1.Gross sales 372.6 1342.7 1707.8 2218.9 3194.5 4564.3
(i)Local sales 372.6 1342.7 1707.8 2218.9 3194.5 4564.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 260.5 806.3 1067.1 1410.8 1868.9 2494.8
3.Gross profit 112.1 536.4 640.7 808.1 1325.6 2069.5
8.Tax provision 1.9 6.5 8.6 10.9 141.3 20.5
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - 483.9 854.4 538.5 909.9 1507.1
3.Finance from outside the company (E1-E2) - 154.7 430.4 29.3 601.2 444.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - 618.6 996.3 751.4 1150.2 1788.1
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 260.4 27.2 29.9 44.0 42.9
551
Pakistan International Airlines Corporation (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -777.0 -5071.8 -19433.6 -31913.1 -54865.9 -44145.2
5.Debentures 14760.9 14003.9 13247.0 10723.7 12430.1 19597.4
B.Liquidity:
1.Liquid Assets: 11613.6 3302.3 10409.5 6547.8 5329.7 5215.0
(i)Cash 10838.9 2614.7 5459.9 1975.5 789.6 742.9
(ii)Investments 774.7 687.6 4949.6 4572.3 4540.1 4472.1
3.Inventories 0.0 0.0 0.0 3251.9 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 78602.2 72785.1 106793.5 118670.1 139556.7 159921.2
D.Operation:
1.Gross sales 57788.1 64074.5 76435.2 70480.7 88863.3 94563.8
(i)Local sales 57788.1 64074.5 76435.2 70480.7 88863.3 94563.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 49053.8 58940.8 74723.3 66222.0 85275.8 78629.4
3.Gross profit 8734.3 5133.7 1711.9 4258.7 3587.5 15934.4
8.Tax provision 288.9 320.4 382.7 352.4 0.0 472.8
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 2.0 - -114.4 -2401.8 -17125.4 -97.9
7.Cash flow ratio F1 as % of F2 14.8 - -65.5 -126.4 -387.6 -58.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 34.5 - -2.9 -2.7 0.0 -3.6
15.Return on Equity (D7 as % of A3) 5.3 -35.0 -32463.5 0.0 0.0 0.0
552
Pakistan National Shipping Corporation. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2974.7 9241.8 10123.6 12952.2 4848.5 5449.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5277.5 12690.0 5032.0 6948.5 9076.2 9876.7
(i)Cash 2234.6 1101.6 4327.1 907.9 3394.4 2217.7
(ii)Investments 3042.9 11588.4 704.9 6040.6 5681.8 7659.0
3.Inventories 0.0 0.0 0.0 444.3 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 7455.3 14922.2 13591.4 16386.6 13612.8 16800.0
D.Operation:
1.Gross sales 6963.1 7951.0 7924.6 9089.1 10753.5 3491.8
(i)Local sales 6963.1 7951.0 7924.6 9089.1 10753.5 3491.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 4571.3 4995.1 6255.0 6495.7 7277.1 1932.2
3.Gross profit 2391.8 2955.9 1669.6 2593.4 3476.4 1559.6
8.Tax provision 97.1 55.3 328.1 487.9 458.9 639.3
F.Cash Flow Data
553
Pakistan Telecommunication Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 42072.8 55730.0 62051.5 56682.6 47225.7 45068.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 32138.7 19190.7 29716.8 40695.5 24978.3 38531.6
(i)Cash 28672.4 12280.8 22598.8 33283.7 21240.7 11906.4
(ii)Investments 3466.3 6909.9 7118.0 7411.8 3737.6 26625.2
3.Inventories 17467.0 0.0 0.0 3879.2 190.9 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 150655.7 131611.9 148191.2 149590.2 187302.3 150727.4
D.Operation:
1.Gross sales 87986.0 84913.5 72684.4 86252.0 80835.9 59239.0
(i)Local sales 87986.0 84913.5 72684.4 86252.0 80835.9 53039.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 6199.5
2.Cost of Sales 33824.1 18734.5 17370.1 37277.8 39727.0 37732.3
3.Gross profit 54161.9 66179.0 55314.3 48974.2 41108.9 21506.7
8.Tax provision 16245.4 14297.7 10327.9 0.0 461.0 3080.7
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 11.6 -3.5 -14.4 18.7 -6.3 -26.7
554
Southern Networks Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -14.9 -198.1 -305.2 -461.0 -536.8 -551.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 14.2 45.9 1.3 1.9 1.0 1.2
(i)Cash 14.2 30.9 1.3 1.9 1.0 1.2
(ii)Investments 0.0 15.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 59.3 15.6 5.9 4.0 4.9
C.Fixed Assets:
4.Total assets (B4+C2) 633.6 531.7 331.7 235.0 192.5 157.9
D.Operation:
1.Gross sales 17.2 235.7 95.6 50.1 55.4 58.8
(i)Local sales 17.2 235.7 95.6 50.1 55.4 58.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 9.1 194.3 89.8 50.1 76.3 65.4
3.Gross profit 8.1 41.4 5.8 0.0 -20.9 -6.6
8.Tax provision 0.1 1.1 0.5 0.3 0.3 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - -157.2 -160.5 -161.9 -82.6 4.0
3.Finance from outside the company (E1-E2) - -55.0 -47.3 5.7 -1.7 23.5
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -5.0 -66.6 -74.6 -134.8 -52.8 4.5
2.Depreciation for the year plus changes in capital employed (C3+E1) - -121.6 -121.9 -129.1 -54.5 28.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 900.0 15.0 43.5 -51.5 -75.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 1270.3 -59.4 -47.6 10.6 6.1
555
TRG Pakistan Ltd (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -94.7 -94.0 -232.2 -3154.5 -2389.1 -1344.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 966.1 2808.9 3608.8 856.3 1476.9 2536.1
(i)Cash 8.4 14.6 50.4 847.0 2.2 3.6
(ii)Investments 957.7 2794.3 3558.4 9.3 1474.7 2532.5
3.Inventories 0.0 0.0 0.0 4.9 0.0 0.0
9.Net liquid assets (B1-B5) 607.6 2267.4 2127.4 -658.9 1441.3 2496.1
C.Fixed Assets:
4.Total assets (B4+C2) 984.6 2865.5 3661.1 3637.7 1500.5 2549.6
D.Operation:
1.Gross sales 17.7 5997.8 29.3 8722.7 8841.5 28.9
(i)Local sales 17.7 5997.8 29.3 8722.7 8841.5 28.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 8.9 4168.3 19.3 6157.3 7949.3 19.9
3.Gross profit 8.8 1829.5 10.0 2565.4 892.2 9.0
8.Tax provision 0.0 16.5 0.0 20.7 4.1 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - 1697.9 -144.3 -57.1 -657.7 1044.9
3.Finance from outside the company (E1-E2) - 1793.4 -8.4 538.0 1464.5 282.5
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - 1703.5 -137.0 219.6 -655.4 1045.4
7.Cash flow ratio F1 as % of F2 0.0 -5.3 93.9 -145.0 323.5 73.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -62.5 100.0 150.0 266.7 -136.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 33785.9 -99.5 29670.3 1.4 -99.7
556
Telecard Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 423.2 -2663.6 -2577.7 -2976.4 -4847.5 -3669.9
5.Debentures 0.0 2400.0 2099.0 1648.8 1129.0 1129.0
8.Total Capital Employed (A3+A7) 1883.3 3130.8 2691.1 2328.7 -42.4 1121.0
B.Liquidity:
1.Liquid Assets: 357.7 2909.9 2174.1 130.2 445.1 418.9
(i)Cash 17.2 2569.4 1833.6 130.2 35.4 9.6
(ii)Investments 340.5 340.5 340.5 0.0 409.7 409.3
3.Inventories 76.2 22.8 14.5 13.1 10.2 1733.3
C.Fixed Assets:
4.Total assets (B4+C2) 3215.5 8130.7 8015.4 6385.1 5811.8 5340.4
D.Operation:
1.Gross sales 2028.7 2591.5 3034.2 2265.3 2848.9 3791.5
(i)Local sales 2028.7 2591.5 3034.2 2265.3 2848.9 3791.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1546.0 1761.1 2412.7 2258.7 2801.1 2610.1
3.Gross profit 482.7 830.4 621.5 6.6 47.8 1181.4
8.Tax provision 13.9 187.8 12.8 10.7 26.6 0.0
F.Cash Flow Data
15.Return on Equity (D7 as % of A3) 12.1 128.4 -22.1 -2255.5 0.0 0.0
557
Worldcall Telecom Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - -2426.5 -76.7 -170.7 -1251.8 -1994.0
5.Debentures - 0.0 49.9 342.9 3237.5 0.0
B.Liquidity:
1.Liquid Assets: - 591.9 2394.0 1190.3 1551.4 791.1
(i)Cash - 591.9 1452.8 560.6 849.0 336.5
(ii)Investments - 0.0 941.2 629.7 702.4 454.6
3.Inventories - 0.4 21.9 35.2 90.9 182.1
7.Net Current Assets(B4-B5) - -1040.0 846.3 -931.9 81.1 -3646.3
C.Fixed Assets:
4.Total assets (B4+C2) - 3558.5 11087.0 12678.3 14376.6 18048.7
D.Operation:
1.Gross sales - 677.9 5033.8 4678.9 4814.0 8408.3
(i)Local sales - 677.9 5033.8 4678.9 4814.0 8408.3
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 607.8 3351.2 2996.7 3161.0 7036.6
3.Gross profit - 70.1 1682.6 1682.2 1653.0 1371.7
5.Operating profit - -7.1 1361.3 1024.4 504.5 -100.4
7.Net profit before tax (D5-D6) - -31.8 1182.2 710.9 43.3 -623.4
8.Tax provision - 0.0 0.0 0.3 22.6 22.6
2.Retention in business (D7-D8-D9) - -31.8 1182.2 710.6 20.7 -646.0
3.Finance from outside the company (E1-E2) - - 5450.7 146.5 2376.1 -320.0
F.Cash Flow Data
5.Return on assets (D7 as % of C4) - -0.9 10.7 5.6 0.3 -3.5
10.Financial expenses as % of operating profit (D6 as % of D5) - - 13.2 30.6 91.4 -520.9
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - - 0.0 0.0 52.2 -3.6
15.Return on Equity (D7 as % of A3) - -9.8 18.3 9.7 0.6 -9.4
3.Net profit margin (D7 as % of D1) - -4.7 23.5 15.2 0.9 -7.4
4.Earning per share before tax (D7/No. of ordinary shares) - -0.1 1.8 0.9 0.1 -0.7
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - -0.1 1.8 0.9 0.0 -0.8
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -110.0 -1900.0 -50.0 -88.9 -800.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 642.6 -7.1 2.9 74.7
558
Callmate Telips Telocom Ltd.
99-CF, 1/5, Clifton, Karachi-75600
Mr. Ahmed Jamil Ansari(Chairman) Allied Bank Ltd. M/S Zahid Jamil & Co.
Mr. Mohammad Ajmal Ansari(Chief Executive) Bank of Khyber
Mr. Hassan Jamil Ansari(Director) MCB Bank Ltd.
Mr. Imran Mahmood(Director) Standard Chartered Bank ( Pakistan) Ltd.
Gen. (Retd.) Safdr Ali Khan(Director) National Bank of Pakistan.
Mr. Tariq M. Rangoonwala(Director) Habib Bank Ltd.
Mr. Nadeem Ahmad Khan(Director) Bank Al-Falah Ltd.


Calling cards & telecom facility
Note: AGM for 2008 has not been
till arranged.
Eye Television Network Ltd.

Hum TV. Plot No. 10/11, Hassan Ali Street, Off I.I. Chundrigar Road, Karachi-74000.
Ms. Sultana Siddiqui(Chairperson) Bank Alfalah Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Duraid Qureshi(Chief Executive) Faysal Bank Ltd.
Mrs. Mehtab Akbar Rashidi(Director) KASB Bank Ltd.
Mr. Munawar Alam Siddiqui(Director) JS Bank Ltd.
Mr. Mazhar-ul-Haq Siddiqui(Director) National Bank of Pakistan.
Mrs. Khus Bhakt Shujat(Director) Allied Bank Ltd.
Mr. Muhammad Ayub Younus Adhi(Director) United Bank Ltd.

T.V. commercial production
559
Media Times Ltd.
41-N, Industrial Area, Gulberg-II, Lahore.
Mr. Salmaan Taseer(Chairman / C.E.) Soneri Bank Ltd. M/s. Nasir Javed Maqsood Imran
Mrs. Aamna Taseer(Director) Faysal Bank Ltd.
Mr. Shehryar Ali Taseer(Director) The Royal Bank of Scotland
Mr. Shahbaz Ali Taseer(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Najam Aziz Sethi(Director) NIB Bank Ltd.
Mr. Maimanat Mohsin(Director) Habib Metorpolitan Bank Ltd.
Mr. A.N.Rane(Director) Arif Habib Bank Ltd.

Print,Electronic Media - -
Netsol Technologies Ltd.

Software Technology Park, Netsole Avenue, Main Ghazi Road, Lahore Cantt.
Mr. Saleem Ullah Ghauri(Chairman / C.E.O.) First National Bank Modaraba M/s.Kabani Saeed Kamran Patel & Co.
Mr. Najeeb Ullah Ghauri(Director) Askari Bank Ltd.
Mr. Naeem Ullah Ghauri(Director) IGI Investment Bank Ltd.
Mr. Irfan Mustafa(Director) Bank Al-Falah Ltd.
Mr. Shahid Javed Burki(Director) JS Bank Ltd.
Mr. Zahid Bashir Mirza(Director) United Bank Ltd.
Mr. Rehmat Ullah Ghauri(Director)

Telecommunication technologies Indeterminable
560
Pak Datacom Ltd.
1st Floor, TF Complex, 7-Mauve Area, G-9 / 4, Islamabad.
Mr. Gul Bahadar Yousafzai(Chairman) Habib Bank Ltd. M/s. Anjum Asim Shahid Rahman
Syed Mahmood Ahmad(Chief Executive) National Bank Of Pakistan
Mr. Iftikhar Ahmed Raja(Director) United Bank Ltd.
Syed Gauhar Ali(Director) MCB Bank Ltd.
Sheikh Muhammad Afzal(Director) The Royal Bank of Scotland Ltd.
Mr. Amjad Hussain Qureshi(Director) Bank Alfalah Ltd.
Mr. Muhammad Arif(Director)

Telecom data transmission
Pakistan Int. Container Terminal Ltd.

2nd Floor, Business Plaza, Mumtaz Hassan Road, Karachi.
Cap. (R) Haleem A. Siddiqui(Chairman) Samba Bank Limited M/s. Ford Rhodes Sidat Hyder & Co.
Cap. (R) Zafar Iqbal Awan(Chief Executive) Faysal Bank Ltd.
Mr. Aasim Azim Siddiqui(Director) JS Bank Ltd.
Mr. Shahrique Azim Siddiqui(Director) Standard Chartered Bank Ltd.
Mr. M. Masood Ahmed Usmani, FCA(Director) United Bank Ltd.
Syed Nizam A. Shah(Director) HSBC Bank Middle East Ltd.
Mr. Ali J. Siddiqui(Director) Albaraka Islamic Bank Ltd.
Preference Shares(%) 10 Investment Yield%

Shipping cantainer services
561
Pakistan International Airlines Corporation
PIA Building, Jinnah International Airport, Karachi.
Ch. Ahmed Mukhtar(Chairman) United Bank Ltd. M/s. Anjum Asim Shahid Rahman & Co.
Capt. Mohammad Aijaz Haroon(Managing Direct Askari Commercial Bank Limited M/s. M. Yousaf Adil Saleem & Co.
Syed Naseer Ahmad(Director) Bank Alfalah Ltd.
Malik Nazir Ahmed(Director) Citibank N.A.
Mr. Javed Akhtar(Director) MCB Bank Ltd.
Lt. Gen.(Retd.) Syed Athar Ali(Director) National Bank Of Pakistan
Prof. Mian Ijaz ul Hassan(Director) Pak Kuwait Investment Company (Pvt.) Ltd.

Airline services
Pakistan National Shipping Corporation.

PNSC Building, Moulvi Tamizuddin Khan Road, Karachi
Vice Admiral (Retd.) Sikandar V. Naqvi(Chairma Habib Bank Ltd. M/s. A. F. Ferguson & Co.
Mrs. Rukhsana Saleem(Director) Allied Bank Of Pakistan Ltd. M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Rasheed Y. Chinoy(Director) United Bank Ltd.
Mr. Khalid Idrees(Director) Faysal Bank Ltd.
Capt. Syed Akhlaq Hussain Abidi(Director) Bank Al-Falah Ltd.
Mr. Jahangir Siddqui(Director) Habib Metropolitan Bank Ltd.
Mr. Khowaja Obaid Imran Ilyas(Director) JS Bank Ltd.

Carrying Capicity of cotton bales Cubic meters 232,229 Indeterminable
Carrying Capicity of food grains Cubic meters 244,086 Indeterminable
Carrying Capicity of dead weight M.Tons 570,466 Indeterminable
562
Pakistan Telecommunication Company Ltd.
PTCL Headquaters, Block-E, Sector G-8/4, Islamabad-44000.
Mr. Walid Irshad(President / C.E.O.) Citibank N.A. Ford Rhodes Sidat Hyder & Co.
Mr. Muhammad Nehmatullah Toor(Director) Askari Bank Ltd. M/s. A. F. Ferguson & Co.
Syed Mazhar Hussain(Director) Faysal Bank Ltd.
Mr. Farah Qamar(Director) MCB Bank Ltd.
Mr. Tariq Salman(Director) National Bank Of Pakistan
Mr. Sikandar Naqi(Director) Standard Chartered Bank Ltd.
Mr. Abdullah Yousef(Director) The Royal Bank of Scotland Ltd.

Actual lines installed (ALI) Numbers 9,240,431 4,796,299
Southern Networks Ltd.

5-Y, Block-6, P.E.C.H.S., Karachi.
Mr. Neville Metha(Chairman / C.E.O.) Bank Al Habib Ltd. M/s. Jalis Ahmed & Co.
Mr. Nisar Ahmed(Director) The Royal Bank of Scotland
Mr. Muhammad Younas(Director)
Mr. Abdul Hameed(Director)
Miss. Abida Iffat(Director)
Mrs. Saeeda Hassan Ali Efffandi(Director)
Mr. Maqbool Mughal(Director)

T.V. commercial production
563
TRG Pakistan Ltd
7th Floor, Block-B, Finance & Trade Centre, Shahrah-e-Faisal, Karachi.
Mr. Muhammad Ziaullah Khan Chishti(Chairman MCB Bank Ltd. M/S A. F. Fergusan & Co.
Mr. Muhammad Ali Jameel(Director) Habib Bank Ltd.
Mr. John Leone(Director) National Bank of Pakistan.
Mr. Rafiq K. Dossani(Director) United Bank Ltd.
Mr. Ameer S Qureshi(Director) Askari Commerial Bank Ltd.
Mr. Saeed Iqbal(Director)
Mr. Peter H.R. Riepenhausen(Director)
Ordinary Shares (%) .1 Lowest Price in 2009 Rs. 1.10

Telecom software development
Telecard Ltd.
3rd Floor, 75-East Blue Area, Fazal-e-Haq Road, Islamabad.
Mr. Sultan-ul-Arfeen(Chairman) Faysal Bank Ltd. M/S Ford Rhodes Sidat Hyder & Co.
Mr. Shahid Firoz(Director) Habib Bank Ltd.
Dr. Peregrine Moncreiffe(Director) National Bank of Pakistan.
Mr. Aamir Niazi(Director) Standard Chartered Bank ( Pakistan) Ltd.
Syed Nizam Ahmed Shah(Director) Orix Investment Bank Ltd.
Mr. Imran Malik(Director) Pak Oman Investment Co. (Pvt.) Ltd.,
Mr. Hissan-ul-Arfeen(Director) Silk Bank Ltd.

Calling cards & wireless services
564
Worldcall Telecom Ltd.
67-A, C/III, Gulberg-III, Lahore.
Mr. Mehdi Mohammed Al Abduwani(Chairman) Askari Bank Ltd. KPMG Taseer Hadi & Co.
Mr. Babar Ali Syed(Chief Execuative) Allied Bank Ltd.
Mr. Asadullah Khawaja(Director) Faysal Bank Ltd.
Mr. Bernhard Herinichen(Director) Habib Bank Ltd.
Mr. Mohammad Ahmad Ghamlocuch(Director) MCB Bank Ltd.
Mr. Salman Taseer(Director) National Bank of Pakistan.
Mr. Samy Ahmed Abdulqadir Al Ghassany(Direc Soneri Bank Ltd.

Calling cards & wireless services
565
Tobacco Sector
Tobacco Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2661.0 4612.3 5828.3 6395.1 6423.2 7877.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1717.0 1464.9 1075.8 947.9 150.3 168.0
(i)Cash 412.8 1459.9 670.7 942.9 145.3 163.0
(ii)Investments 1304.2 5.0 405.1 5.0 5.0 5.0
3.Inventories 4555.8 4895.4 5812.8 6478.7 9420.6 11656.3
C.Fixed Assets:
4.Total assets (B4+C2) 12025.3 13579.3 14694.1 16465.3 19928.2 22873.3
D.Operation:
1.Gross sales 45144.9 54015.4 56411.6 63405.1 74164.2 35184.3
(i)Local sales 45143.5 53994.5 56407.9 63401.4 74101.4 35165.7
(ii)Export sales 1.4 20.9 3.7 3.7 62.8 18.6
2.Cost of Sales 38425.9 45391.4 46687.7 52386.5 62549.3 21978.1
3.Gross profit 6719.0 8624.0 9723.9 11018.6 11614.9 13206.2
8.Tax provision 628.2 1498.3 1705.3 1948.3 1786.1 2111.2
F.Cash Flow Data
568
Tobacco

150
100
%
50
0
2004 2005 2006 2007 2008 2009

Khyber Tobacco Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -72.0 -54.7 -53.4 -43.5 -37.7 -32.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.1 0.1 3.1 5.6
(i)Cash 0.0 0.0 0.1 0.1 3.1 5.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 9.6 3.9 0.0 4.4 25.5 10.7
C.Fixed Assets:
4.Total assets (B4+C2) 26.0 9.2 5.1 9.6 35.3 53.7
D.Operation:
1.Gross sales 5.7 7.1 11.5 25.7 69.9 117.1
(i)Local sales 5.7 7.1 11.5 25.7 42.8 98.5
(ii)Export sales 0.0 0.0 0.0 0.0 27.1 18.6
2.Cost of Sales 4.5 5.2 7.8 17.6 61.2 104.7
3.Gross profit 1.2 1.9 3.7 8.1 8.7 12.4
8.Tax provision 0.3 0.7 1.0 1.1 1.5 2.9
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 - 7.7 -300.0 187.9 67.2 110.5
570
Lakson Tobacco Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2021.5 3566.3 4278.0 4951.2 5378.2 6204.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1672.6 1401.7 1007.4 775.8 46.7 109.6
(i)Cash 373.4 1401.7 607.3 775.8 46.7 109.6
(ii)Investments 1299.2 0.0 400.1 0.0 0.0 0.0
3.Inventories 1466.2 1104.2 2009.1 2463.2 5327.1 5880.2
C.Fixed Assets:
4.Total assets (B4+C2) 4951.9 5567.8 5918.6 6593.2 9439.8 10592.7
D.Operation:
1.Gross sales 19624.1 23320.6 20619.7 22425.3 24937.9 13400.7
(i)Local sales 19624.1 23320.6 20619.7 22425.3 24937.9 13400.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 16394.2 19240.4 16443.2 17934.8 20621.5 8431.3
3.Gross profit 3229.9 4080.2 4176.5 4490.5 4316.4 4969.4
8.Tax provision 613.4 862.0 822.0 780.0 537.1 505.0
F.Cash Flow Data
571
Pakistan Tobacco Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 710.4 1084.5 1584.2 1467.9 1053.4 1705.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 44.2 62.6 67.9 171.7 74.2 52.9
(i)Cash 39.2 57.6 62.9 166.7 69.2 47.9
(ii)Investments 5.0 5.0 5.0 5.0 5.0 5.0
3.Inventories 3074.1 3780.9 3790.9 3998.2 4059.1 5765.4
C.Fixed Assets:
4.Total assets (B4+C2) 7024.8 7968.4 8734.5 9826.3 10395.1 12226.9
D.Operation:
1.Gross sales 25452.6 30615.1 35715.5 40889.3 49053.9 21666.5
(i)Local sales 25452.6 30615.1 35715.5 40889.3 49053.9 21666.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 21970.0 26085.5 30181.9 34379.3 41777.2 13442.1
3.Gross profit 3482.6 4529.6 5533.6 6510.0 7276.7 8224.4
8.Tax provision 14.0 633.8 880.3 1165.1 1246.2 1603.3
3.Finance from outside the company (E1-E2) -450.0 -435.4 410.0 -1668.4 -618.2 672.7
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 233.7 216.4 18.0 -1334.6 -49.1 -3.2
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 70.8 97.6 38.3 29.5 4.8 19.7
572
Khyber Tobacco Company Ltd.
Nowshera Malakand Road, P.O.Box No.12, Mardan, Khyber Pakhtoonkhua
Mr. Wali-ur-Rehman(M.D. / C.E.O.) MCB Bank Ltd. M/s. Tariq Ayub Anwar & Co.
Mr. Wasim-ur-Rehman(Director) National Bank Of Pakistan
Mr. Mohammad Sial(Director)
Mr. Sajjad Khan(Director)
Mr. Sami-ur-Rehman(Director)
Mr. Muhammad Faridoon Rehman(Director)
Mr. Fazl-e-Mabood(Director)

Cigarettes Number (Million) 4,422 130.40
Lakson Tobacco Company Ltd.

Bahria Complex-III, 4th Floor, M.T.Khan Road, Karachi.
Mr. Salman Hameed(Chairman / C.E.O.) Citi Bank N. A. M/s. A.F.Ferguson & Co.
Mr. Eunice Hamilton(Director) Habib Bank Ltd.
Mr. Mohammad Farooq Shakoror(Director) MCB Bank Ltd.
Mr. joseph mitchell Gault(Director) Deutsche Bank AG
Mr. Matteo Lorenzo Pellegrini(Director) The Hong Kong & Shanghai Banking Corporation Ltd
Mr. Douglas Walter Werth(Director) RBS Bank Ltd.
Mr. Asmer Naim(Director) Braclays PLC, Pakistan
Date of Annual General Meeting 31st March , 2010 Face Value Rs. 10.00

Cigarettes Numbers (Million) 54,390 29,672
573
Pakistan Tobacco Company Ltd.
Silver Square, Plot No.15, F-11 Markaz, P.O.Box No. 2549, Islamabad.
Mr. Mueen Afzal Hi(Chairman) MCB Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Nicholas Stewart Hales(M.D. / C.E.O.) National Bank Of Pakistan
Mr. Chirstopher Edward John Gooddy(Director) Citi Bank N. A.
Lt. Gen. (Retd.) Ali Kuli Khan Khattak(Director) Habib Bank Limited
Mr. Abid Niaz Hasan(Director) Deutsch Bank
Mr. Istaqbal Mehdi(Director) Braclays Bank Ltd.
Mr. Kunwar Idris(Director) Standard Chartered Bank ( Pakistan) Ltd.

Cigarettes in Million 48,111 41,973
574
Jute Sector
Jute Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 349.1 993.2 2165.0 2838.4 4288.3 5048.8
5.Debentures 0.0 6.4 46.4 6.4 0.0 0.0
B.Liquidity:
1.Liquid Assets: 234.5 400.6 756.9 1629.6 2120.5 2790.0
(i)Cash 16.7 155.2 207.6 889.9 94.0 549.7
(ii)Investments 217.8 245.4 549.3 739.7 2026.5 2240.3
3.Inventories 1020.9 1121.0 1861.0 1674.1 2310.6 2112.1
C.Fixed Assets:
4.Total assets (B4+C2) 2532.7 3123.9 4646.5 5097.7 7922.7 7704.8
D.Operation:
1.Gross sales 3594.7 4880.5 6762.7 7760.5 10993.0 9607.7
(i)Local sales 3274.1 4479.5 6250.9 7205.2 10339.0 9114.3
(ii)Export sales 320.6 401.0 511.8 555.3 654.0 493.4
2.Cost of Sales 3044.7 4169.7 5594.7 6486.0 9521.4 8003.3
3.Gross profit 550.0 710.8 1168.0 1274.5 1471.6 1604.4
8.Tax provision 132.4 195.3 304.4 345.2 6.5 302.8
F.Cash Flow Data
577
Jute

350
300
250
%
200
150
100
50
0
2004 2005 2006 2007 2008 2009

Crescent Jute Products Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -556.2 -245.5 -305.8 -195.5 76.4 89.1
3.Shareholder's Equity (A1+A2) -405.6 -94.9 -155.2 -44.9 314.0 326.7
5.Debentures 0.0 0.0 40.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -404.7 0.2 -115.2 -4.9 331.5 399.4
B.Liquidity:
1.Liquid Assets: 54.4 51.3 37.8 80.0 7.3 26.9
(i)Cash 5.2 10.8 4.5 7.6 3.0 25.2
(ii)Investments 49.2 40.5 33.3 72.4 4.3 1.7
3.Inventories 144.5 147.2 126.5 68.9 158.2 143.1
C.Fixed Assets:
4.Total assets (B4+C2) 413.5 593.2 516.3 411.6 823.5 733.4
D.Operation:
1.Gross sales 302.5 471.2 444.0 461.6 711.1 999.8
(i)Local sales 291.0 358.2 337.0 404.9 634.9 966.6
(ii)Export sales 11.5 113.0 107.0 56.7 76.2 33.2
2.Cost of Sales 290.9 455.0 433.9 478.9 656.6 871.7
3.Gross profit 11.6 16.2 10.1 -17.3 54.5 128.1
8.Tax provision 1.5 2.4 2.6 3.1 4.1 0.3
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -38.0 1.0 -36.7 175.7 41.6 30.8
5.Return on assets (D7 as % of C4) -11.2 -0.8 -10.1 39.1 2.9 0.7
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) -269.3 -63.0 -103.1 -29.8 132.2 137.5
10.Break-up value of ordinary shares (in rupees) -26.9 -6.3 -10.3 -3.0 13.2 13.8
579
Latif Jute Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -11.2 0.3 -0.3 -1.2 0.0 28.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.9 0.1 0.2 0.1 0.0 89.2
(i)Cash 0.9 0.1 0.2 0.1 0.0 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 89.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 74.3 64.6 64.5 63.6 63.2 89.6
D.Operation:
1.Gross sales 12.7 0.0 0.0 0.0 0.0 0.0
(i)Local sales 12.7 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 21.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit -8.3 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.4 0.0 0.0 0.0 0.2 0.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -10.5 11.1 -0.4 -0.9 1.2 28.9
7.Cash flow ratio F1 as % of F2 - -15.3 425.0 111.1 100.0 99.3
9.Overhead and other expenses as % of gross sales (D4 as % D1) 239.4 - 0.0 0.0 0.0 0.0
11.Financial expense as % of gross sales (D6 as % of D1) 6.3 - 0.0 0.0 0.0 0.0
14.Sundry debtors as % of gross sales 7.1 - 0.0 0.0 0.0 0.0
3.Net profit margin (D7 as % of D1) 126.8 - 0.0 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -92.7 -100.0 - - - -
580
Suhail Jute Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 386.5 301.0 333.9 383.7 885.5 756.5
5.Debentures 0.0 6.4 6.4 6.4 0.0 0.0
B.Liquidity:
1.Liquid Assets: 133.7 170.2 232.3 302.9 5.0 49.5
(i)Cash 1.5 1.5 10.8 4.5 2.4 2.6
(ii)Investments 132.2 168.7 221.5 298.4 2.6 46.9
3.Inventories 97.1 103.7 63.8 89.6 90.5 101.7
9.Net liquid assets (B1-B5) 7.9 -110.6 -34.9 7.3 -252.5 -168.2
C.Fixed Assets:
4.Total assets (B4+C2) 570.9 640.2 652.7 724.1 1203.2 1011.5
D.Operation:
1.Gross sales 85.8 208.6 206.0 236.5 253.7 345.0
(i)Local sales 75.2 167.9 185.5 233.8 240.3 345.0
(ii)Export sales 10.6 40.7 20.5 2.7 13.4 0.0
2.Cost of Sales 64.7 202.5 197.5 236.0 244.4 296.1
3.Gross profit 21.1 6.1 8.5 0.5 9.3 48.9
7.Net profit before tax (D5-D6) 22.3 -20.1 4.9 -7.7 24.3 -29.7
8.Tax provision 0.5 0.9 1.0 1.2 1.2 0.0
2.Retention in business (D7-D8-D9) 19.9 -22.9 2.0 -8.9 23.1 -29.7
3.Finance from outside the company (E1-E2) -12.1 -62.6 24.0 52.0 494.0 -122.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 28.0 -15.2 9.4 -1.8 30.7 -21.6
5.Return on assets (D7 as % of C4) 3.9 -3.1 0.8 -1.1 2.0 -2.9
15.Return on Equity (D7 as % of A3) 5.3 -5.9 1.3 -1.8 2.6 -3.7
3.Net profit margin (D7 as % of D1) 26.0 -9.6 2.4 -3.3 9.6 -8.6
4.Earning per share before tax (D7/No. of ordinary shares) 5.9 -5.4 1.3 -2.1 6.5 -7.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -56.7 143.1 -1.2 14.8 7.3 36.0
581
Thal Limited ( Thal Jute Mills Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 742.8 1136.4 2362.3 2916.0 3590.9 4174.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 41.2 176.0 474.8 1234.5 2096.0 2624.3
(i)Cash 5.2 140.3 180.4 865.5 76.3 521.6
(ii)Investments 36.0 35.7 294.4 369.0 2019.7 2102.7
3.Inventories 731.0 837.1 1609.5 1465.9 2012.3 1867.2
9.Net liquid assets (B1-B5) -476.5 -260.5 -292.5 580.0 577.7 1397.0
C.Fixed Assets:
4.Total assets (B4+C2) 1334.5 1652.1 3213.4 3701.1 5635.4 5870.1
D.Operation:
1.Gross sales 3066.2 4045.9 6006.4 6896.0 9861.8 8262.9
(i)Local sales 2767.7 3798.6 5622.2 6431.4 9328.7 7802.7
(ii)Export sales 298.5 247.3 384.2 464.6 533.1 460.2
2.Cost of Sales 2540.4 3346.6 4852.0 5587.5 8436.7 6835.5
3.Gross profit 525.8 699.3 1154.4 1308.5 1425.1 1427.4
8.Tax provision 129.4 191.0 300.1 339.9 0.0 302.3
F.Cash Flow Data
582
Crescent Jute Products Ltd.
306, 3rd Floor, Sadiq Trade Centre, 72-main Boulevard, Gulberg, Lahore
Mr. Mazhar Karim(Chairman) The Bank Of Punjab M/s. Riaz Ahmad & Co.
Mr. Humayun Mazhar(Chief Executive) Crescent Standard Modaraba
Mr. Amir Hasnain Zaidi(Director) MCB Bank Ltd.
Syed Raza Abbas Jafri (NIT)(Director) Bank Al-Falah Ltd.
Mr. Khalid Bashir(Director) United Bank Ltd.
Mr. Khurram Mazher Karim(Director)
Mr. Rashid M. Hanif(Director)

Sacking including twine M.Tons 18,500 11,706
Hessian M.Tons 4,500 1,069
Latif Jute Mills Ltd.

Hub Chowki Village Beirut, Tehsil Hub, Dist. Lasbella, Balochistan.
Mr. M. Tariq Bawany(Chairman & C.E.) RBS Bank Ltd. M/s. Aslam Malik & Co.
Mr. M.Arif(Director) United Bank Ltd.
Mr. M. Taufiq(Director)
Mr. M. Danish(Director)
Mr. Arif S. Ghazi(Director)
Mr. Arif Yousuf Jaliawala(Director)
Mr. Mohammad Arif Dalia(Director)

Jute spindles and Jute bags M. Tons 8,000 Nil
583
Suhail Jute Mills Ltd.
125-Murree Road, Rawalpindi.
Mr. Sohail Farooq Shaikh(Chairman/ C.E.) Habib Bank Ltd. M/s. Amir Alam Khan & Co.
Mrs. Neelum Sohail Shaikh(Director) National Bank Of Pakistan
Mrs. Nadia Shaikh(Director)
Mrs Mehreen Haroon Rashid(Director)
Mrs Ambreen Zahid Bashir(Director)
Mrs. Nazifa Khaliq(Director)
Mrs. Sharmeen Azam Jamil(Director)

Jute production (Variety Products) M. Tons 6,000 4,948
Thal Limited ( Thal Jute Mills Ltd.)

4th Floor, House of Habib, 3-Jinnah Cooperative Housing Society, Shahrah-e-Faisal, Karachi.
Mr. Rafiq M. Habib(Chairman) Albaraka Islamic Bank M/s. Ford Rhodes Sidat Hyder & Co.
Mr. Sohail P. Ahmed(Chief Executive) Habib Bank Ltd.
Mr. Ali S. Habib(Director) HSBC Bank Middle East Ltd.
Mr. Mohammadali R. Habib(Director) Habib Metropolitan Bank Ltd.
Mr. S. Z. Kazmi(Director) National Bank of Pakistan.
Mr. Mazhar Valjee(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Shahid Mahmood Khan(Director) United Bank Ltd.

Jute M. Tons 33,800 35,197
Auto Air Conditioners Units 90,000 43,770
Wire Harness Units Indeterminable 43,203
584
Vanaspati & Allied Industries Sector
Vanaspati And Allied Industries Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -3192.0 -1496.6 -1296.7 -1674.0 -1736.3 -648.5
5.Debentures 0.0 0.0 4.7 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 55.3 94.0 226.6 237.7 162.1 157.6
(i)Cash 52.5 41.2 176.5 187.6 112.0 107.6
(ii)Investments 2.8 52.8 50.1 50.1 50.1 50.0
3.Inventories 439.8 427.1 444.9 440.6 675.1 538.3
C.Fixed Assets:
4.Total assets (B4+C2) 2589.7 2555.8 2682.3 2008.7 2467.4 1848.0
D.Operation:
1.Gross sales 6360.0 6357.7 6484.0 4029.8 5470.4 4681.4
(i)Local sales 6036.3 5646.9 5703.6 4029.8 5470.4 4681.4
(ii)Export sales 323.7 710.8 780.4 0.0 0.0 0.0
2.Cost of Sales 5971.3 5958.8 5977.3 3787.1 5139.7 4380.1
3.Gross profit 388.7 398.9 506.7 242.7 330.7 301.3
7.Net profit before tax (D5-D6) 214.5 -4.2 -67.5 -162.8 -1.0 56.5
8.Tax provision 54.4 62.5 75.3 28.1 39.5 48.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -77.5 1479.2 144.9 -479.9 -172.2 751.7
2.Retention in business (D7-D8-D9) 157.1 -67.7 -142.8 -199.4 -40.5 3.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 189.4 -26.6 -88.9 -167.1 -7.7 27.7
2.Depreciation for the year plus changes in capital employed (C3+E1) -45.2 1520.3 198.8 -447.6 -139.4 775.5
6.Self financing ratio (E2 as % of E1) - -4.6 -98.6 41.6 23.5 0.5
7.Cash flow ratio F1 as % of F2 - -1.7 -44.7 37.3 5.5 3.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 25.4 -1488.1 -111.6 -17.3 -3950.0 85.0
1.Dividend cover ratio [(D7 - D8) as % of D9] 5336.7 -6670.0 0.0 -2245.9 0.0 184.8
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 4.1 -1.8 -3.9 -5.3 -1.4 0.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) 685.7 -101.8 1700.0 150.0 -100.0 -
587
Vanaspati And Allied Industries

100
50
0
2004 2005 2006 2007 2008 2009

Morafco Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -830.3 -831.4 -832.3 -833.5 -834.8 -836.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 1.3 0.0 0.1 0.1
(i)Cash 0.0 0.0 1.3 0.0 0.1 0.1
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 4.5 4.2 4.3 2.8 2.7 2.5
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -1.7 -1.1 -0.9 -1.2 -1.3 -1.3
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -1.4 -0.8 -0.6 -1.0 -1.1 -1.1
589
Punjab Oil Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 12.5 -6.5 25.4 125.7 159.6 66.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.1 8.2 8.6 15.5 39.4 38.6
(i)Cash 3.4 5.5 8.6 15.5 39.4 38.6
(ii)Investments 2.7 2.7 0.0 0.0 0.0 0.0
3.Inventories 36.1 54.1 65.9 77.4 97.4 168.9
7.Net Current Assets(B4-B5) -6.0 -44.9 -26.8 -32.3 0.4 -86.2
C.Fixed Assets:
4.Total assets (B4+C2) 210.2 210.5 248.2 383.5 692.2 653.8
D.Operation:
1.Gross sales 1049.4 1178.6 1226.5 1747.5 2509.2 2809.9
(i)Local sales 1049.4 1178.6 1226.5 1747.5 2509.2 2809.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1012.1 1143.6 1171.7 1670.9 2386.0 2625.3
3.Gross profit 37.3 35.0 54.8 76.6 123.2 184.6
8.Tax provision 4.6 5.1 7.9 10.6 18.8 44.1
3.Finance from outside the company (E1-E2) -7.3 -36.0 20.7 87.5 -2.7 -140.7
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - - 29.4 12.3 108.2 -63.6
590
S.S. Oil Mills Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 280.2 267.2 267.0 208.0 220.8 296.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.5 10.3 1.5 13.6 61.4 3.2
(i)Cash 10.5 10.3 1.5 13.6 61.4 3.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 106.3 161.8 205.6 245.0 391.0 238.0
C.Fixed Assets:
4.Total assets (B4+C2) 502.3 521.9 648.0 681.6 907.0 753.1
D.Operation:
1.Gross sales 1105.1 622.5 912.0 1026.6 1551.9 973.7
(i)Local sales 1105.1 622.5 912.0 1026.6 1551.9 973.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1054.6 611.0 874.7 959.7 1464.1 913.5
3.Gross profit 50.5 11.5 37.3 66.9 87.8 60.2
8.Tax provision 7.5 2.8 4.2 4.6 7.0 4.0
2.Retention in business (D7-D8-D9) 224.9 -10.5 -3.2 10.6 12.2 7.4
F.Cash Flow Data
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 39.7 -1.9 -0.6 1.9 2.2 1.3
591
Wazir Ali Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -57.3 -6.2 -30.2 -78.3 -119.4 -175.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 10.5 57.3 64.2 62.9 60.5 115.8
(i)Cash 10.5 7.3 14.2 12.9 10.5 65.8
(ii)Investments 0.0 50.0 50.0 50.0 50.0 50.0
3.Inventories 56.4 79.6 43.3 104.9 176.3 131.5
C.Fixed Assets:
4.Total assets (B4+C2) 237.2 364.4 316.2 374.3 436.3 438.8
D.Operation:
1.Gross sales 726.6 1028.0 1150.5 885.1 922.0 897.8
(i)Local sales 726.6 1028.0 1150.5 885.1 922.0 897.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 630.3 893.6 976.0 796.1 818.2 841.2
3.Gross profit 96.3 134.4 174.5 89.0 103.8 56.6
8.Tax provision 5.4 11.7 10.4 4.5 4.7 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -95.1 -72.8 94.3 108.5 69.4 102.1
1.Dividend cover ratio [(D7 - D8) as % of D9] - - 0.0 -1682.5 0.0 0.0
592
Morafco Industries Ltd.
C/o. Republic Motors (Pvt.) Ltd., 87-Shahrah-e-Quaid-e-Azam, Lahore.
Mr. Abdul Bari Khan(Chairman / M.D.) MCB Bank Ltd. M/s. Kamran & Co.
Mr. Sarosh Yousufi(M.D. / C.E.O.) Soneri Bank Ltd.
Mr. S.Rehan Ul Hasnat(Director)
Mr. Javed Iqbal(Director)
Mr. M. Adil Mannoo(Director)
Mst. Humaira Monnoo(Director)
Mr. Zahid ur-Rehman Mughal(Director)

Ghee production M. Tons 20,000 Nil
Punjab Oil Mills Ltd.

26,27,28, Industrial Triangle, Kahuta Road, Islamabad.
Mr. Tahir Jahangir(Chairman) Faysal Bank Ltd. M/s. Qadeer & Co.
Mr. Izaz Ilahi Malik(M.D. / C.E.O.)
Ch. Muhammad Sarwar(Director)
Mr. Firasat Ali (NIT)(Director)
Mr. Gul Nawaz (NIT)(Director)
Sh. Anwar Ahmad Batla(Director)
Mr. Usman Ilahi Malik(Director)

Ghee/Margerin M.Tons 20,000 20,000
Cooking Oil M.Tons 5,000 6,039
593
S.S. Oil Mills Ltd.
2-Tipu Block, New Garden Town, Lahore.
Nawabzada Shahzad Ali Khan(Chairman / C.E.O The Bank Of Punjab M/s. Aslam Malik & Co.
Mr. Shaharyar Ali Khan(Director) Silk Bank Ltd.
Chaudhry Mohammad Humayun(Director) MCB Bank Ltd.
Mr. Ahsan-ud-Din(Director)
Khalifa Mohammad Hasan Saeed(Director)
Mr. Safdar Iqbal Khan(Director)
Mr. Wajahat Ali Khan(Director)

Oil from Sunflower Seed M.Tons 20,000 7,257
Oil from Rape Seed M.Tons 40,000 11,627
Cotton Seed M.Tons 19,500 -
Wazir Ali Industries Ltd.

F-33, Hub River Road, S.I.T.E, Karachi.
Syed Yawar Ali(Chairman) The Royal Bank of Scotland Ltd. KPMG Taseer Hadi & Co.
Mr. Abdus Samad(Chief Executive) Habib Bank Ltd.
Mr. Abdul Rashid Janmohammad(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Perwaiz Hasan Khan(Director) MCB Bank Ltd.
Mr. Mohammad Bashir Janmohammad(Director Natioanl Bank of Paksitan
Mr. Mohammad Rabbani(Director)
Mr. Perwaiz Masud Ansari(Director)

Vanaspati-Ghee & cooking oil M. Tons 30,000 21,392
594
Miscelleneous Sector
Miscelleneous Sector (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 15470.6 22896.9 26044.3 32353.7 38731.3 43452.9
5.Debentures 699.6 499.7 299.8 99.9 1499.4 1499.4
B.Liquidity:
1.Liquid Assets: 4202.0 4720.4 5854.4 8973.9 12889.9 13382.0
(i)Cash 3306.1 3093.4 3727.2 4169.9 4100.4 4134.9
(ii)Investments 895.9 1627.0 2127.2 4804.0 8789.5 9247.1
3.Inventories 10210.6 10870.2 14193.0 16675.3 23934.2 25737.2
7.Net Current Assets(B4-B5) 3269.3 2670.1 -2941.4 -636.7 7777.2 2583.2
C.Fixed Assets:
4.Total assets (B4+C2) 49104.3 62875.5 76555.7 93023.4 114275.9 126124.2
D.Operation:
1.Gross sales 72640.0 87171.5 110281.7 131871.5 162877.9 166825.2
(i)Local sales 69142.2 82957.1 105161.4 125413.4 155314.5 157804.0
(ii)Export sales 3497.8 4214.4 5120.3 6458.1 7563.4 9021.2
2.Cost of Sales 55573.1 65776.1 83289.6 98764.6 123838.1 121469.2
3.Gross profit 17066.9 21395.4 26992.1 33106.9 39039.8 45356.0
8.Tax provision 1836.0 2125.3 2320.6 2919.6 3932.7 4565.6
F.Cash Flow Data
597
Miscelleneous

150
100
%
50
0
2004 2005 2006 2007 2008 2009

AKD Capital Ltd. (Akd Securities & Safe Deposit Co. Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 6.2 25.3 -1.3 -7.1 -7.1 -10.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 9.0 32.1 2.2 1.6 1.6 0.4
(i)Cash 1.6 32.1 2.1 1.5 1.5 0.4
(ii)Investments 7.4 0.0 0.1 0.1 0.1 0.0
3.Inventories 0.0 115.0 0.0 5.0 5.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 9.5 151.1 105.5 43.2 43.2 52.6
D.Operation:
1.Gross sales 0.0 3.1 0.0 0.0 0.0 0.0
(i)Local sales 0.0 3.1 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 1.2 0.0 0.0 0.0 0.0
3.Gross profit 0.0 1.9 0.0 0.0 0.0 0.0
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 102.6 -1.2 116.3 71.2 -233.3 333.3
3.Net profit margin (D7 as % of D1) - -19.4 0.0 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -100.0 - -100.0 - - -
599
Al-Khair Gadoon Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 27.6 30.9 33.3 39.6 39.8 43.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 30.9 31.9 31.9 32.2 31.5 31.3
(i)Cash 0.9 1.9 1.9 2.2 0.9 1.3
(ii)Investments 30.0 30.0 30.0 30.0 30.6 30.0
3.Inventories 37.5 56.8 73.9 107.3 123.3 130.1
C.Fixed Assets:
4.Total assets (B4+C2) 154.6 191.6 211.3 254.2 280.3 281.0
D.Operation:
1.Gross sales 63.5 82.3 179.8 275.2 259.7 232.1
(i)Local sales 63.5 82.3 179.8 275.2 259.7 232.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 55.1 71.3 155.6 238.3 223.8 197.5
3.Gross profit 8.4 11.0 24.2 36.9 35.9 34.6
8.Tax provision 1.7 1.8 1.5 1.4 1.8 0.5
F.Cash Flow Data
600
Arpak International InvestmentsLtd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 47.0 48.5 52.1 53.3 154.1 177.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 77.0 80.7 83.7 86.2 125.5 154.0
(i)Cash 61.8 54.6 59.8 62.1 2.0 13.7
(ii)Investments 15.2 26.1 23.9 24.1 123.5 140.3
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 89.7 92.2 93.8 95.6 196.1 221.7
D.Operation:
1.Gross sales 2.0 3.9 6.4 8.4 8.0 9.8
(i)Local sales 2.0 3.9 6.4 8.4 8.0 9.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 2.3 0.7 0.0 0.6 1.1 3.3
3.Gross profit -0.3 3.2 6.4 7.8 6.9 6.5
8.Tax provision 0.0 0.6 1.3 1.8 1.4 2.2
F.Cash Flow Data
601
Balochistan Glass Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -15.2 13.2 44.2 -49.5 -505.8 -1014.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.9 4.4 12.6 13.9 17.2 34.5
(i)Cash 3.9 4.4 12.6 13.9 17.2 34.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 387.1 517.7 554.8 603.2 586.5 552.6
C.Fixed Assets:
4.Total assets (B4+C2) 1899.4 2068.6 2366.4 2772.9 2751.4 2794.6
D.Operation:
1.Gross sales 1033.2 1295.0 1322.3 1369.9 1345.5 1033.0
(i)Local sales 648.2 1123.1 1219.6 1030.1 1140.6 505.5
(ii)Export sales 385.0 171.9 102.7 339.8 204.9 527.5
2.Cost of Sales 771.5 1031.9 1094.4 1201.2 1524.6 1220.4
3.Gross profit 261.7 263.1 227.9 168.7 -179.1 -187.4
8.Tax provision 6.7 6.6 5.8 6.2 5.9 5.2
F.Cash Flow Data
602
Bata Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 533.7 609.1 622.0 897.4 1360.1 1885.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 59.9 55.5 104.9 271.5 119.7 847.0
(i)Cash 40.5 35.0 82.8 247.7 89.0 461.2
(ii)Investments 19.4 20.5 22.1 23.8 30.7 385.8
3.Inventories 541.2 606.8 716.7 770.0 1274.3 1281.9
C.Fixed Assets:
4.Total assets (B4+C2) 1272.3 1363.9 1414.6 1873.0 2277.0 3061.9
D.Operation:
1.Gross sales 2722.3 2934.6 3309.6 4271.9 5521.1 6428.5
(i)Local sales 2548.9 2734.9 3118.5 4085.7 5347.2 6220.9
(ii)Export sales 173.4 199.7 191.1 186.2 173.9 207.6
2.Cost of Sales 1886.5 1997.2 2196.8 2634.8 3357.0 3756.3
3.Gross profit 835.8 937.4 1112.8 1637.1 2164.1 2672.2
8.Tax provision 60.6 54.4 64.7 137.3 173.3 220.5
F.Cash Flow Data
603
Clover Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 87.7 159.5 203.8 251.5 300.4 259.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 122.9 197.6 255.6 363.7 218.7 200.8
(i)Cash 122.9 172.6 230.6 92.5 72.9 140.2
(ii)Investments 0.0 25.0 25.0 271.2 145.8 60.6
3.Inventories 86.9 72.4 105.8 104.9 208.9 230.1
9.Net liquid assets (B1-B5) -25.0 76.7 44.7 106.0 -30.4 -168.1
C.Fixed Assets:
4.Total assets (B4+C2) 291.0 335.3 469.4 574.7 628.3 722.8
D.Operation:
1.Gross sales 654.2 744.7 943.1 1159.0 1383.2 1035.6
(i)Local sales 654.2 744.7 939.8 1159.0 1383.2 1035.6
(ii)Export sales 0.0 0.0 3.3 0.0 0.0 0.0
2.Cost of Sales 423.2 494.1 633.0 787.7 1008.5 779.5
3.Gross profit 231.0 250.6 310.1 371.3 374.7 256.1
8.Tax provision 32.0 38.1 41.0 48.0 38.7 6.4
F.Cash Flow Data
604
Dadabhoy Construction Tech. Ltd.(Pak German Prefabs Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -66.6 -71.9 -67.9 -67.4 -66.3 -68.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 2.3 2.6 0.6 0.7 0.5
(i)Cash 0.0 2.3 2.6 0.6 0.7 0.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 2.2 4.5 4.3 4.8 3.4
C.Fixed Assets:
4.Total assets (B4+C2) 13.8 18.2 14.7 12.9 13.8 12.8
D.Operation:
1.Gross sales 0.0 6.0 4.7 4.8 3.4 3.4
(i)Local sales 0.0 6.0 4.7 4.8 3.4 3.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 1.9 2.1 2.8 1.5 1.9
3.Gross profit 0.0 4.1 2.6 2.0 1.9 1.5
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
3.Net profit margin (D7 as % of D1) - -80.0 85.1 12.5 32.4 -52.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - -21.7 2.1 -29.2 0.0
605
Diamond Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 209.9 279.7 269.3 293.6 331.6 535.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 66.0 33.1 67.7 95.6 162.3 162.0
(i)Cash 2.0 1.3 0.8 0.5 0.7 3.5
(ii)Investments 64.0 31.8 66.9 95.1 161.6 158.5
3.Inventories 28.1 10.9 4.7 0.8 0.0 0.0
9.Net liquid assets (B1-B5) 51.5 -25.7 14.8 54.9 115.7 107.0
C.Fixed Assets:
4.Total assets (B4+C2) 314.4 428.5 412.2 424.3 468.2 680.3
D.Operation:
1.Gross sales 271.8 158.3 24.4 6.3 0.0 999.9
(i)Local sales 269.6 158.3 24.4 6.3 0.0 999.9
(ii)Export sales 2.2 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 356.9 218.7 32.3 15.8 9.5 958.6
3.Gross profit -85.1 -60.4 -7.9 -9.5 -9.5 41.3
5.Operating profit -20.7 7.7 -12.8 -0.4 -24.9 193.5
7.Net profit before tax (D5-D6) -37.5 0.1 -12.9 -0.8 -24.9 193.5
8.Tax provision 1.2 1.2 0.3 0.1 0.3 0.1
F.Cash Flow Data
5.Return on assets (D7 as % of C4) -11.9 0.0 -3.1 -0.2 -5.3 28.4
6.Self financing ratio (E2 as % of E1) -153.0 -1.6 126.9 -3.7 -66.3 94.9
7.Cash flow ratio F1 as % of F2 -104.5 17.7 37.8 33.5 -25.6 95.2
10.Financial expenses as % of operating profit (D6 as % of D5) - 98.7 -0.8 -100.0 0.0 0.0
3.Net profit margin (D7 as % of D1) -13.8 0.1 -52.9 -12.7 0.0 19.4
4.Earning per share before tax (D7/No. of ordinary shares) -4.2 0.0 -1.4 -0.1 -2.8 21.5
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 921.8 -41.8 -84.6 -74.2 -100.0 -
606
Dreamworld Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 10.1 16.9 25.2 28.4 20.3 25.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 4.2 5.3 11.7 11.6 7.3 6.9
(i)Cash 4.2 5.3 11.7 11.6 7.3 6.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 2.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 376.6 392.1 441.1 488.8 476.5 480.0
D.Operation:
1.Gross sales 167.5 239.1 435.4 391.4 321.6 314.2
(i)Local sales 167.5 239.1 435.4 391.4 321.6 314.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 147.3 206.1 369.7 322.2 272.4 244.3
3.Gross profit 20.2 33.0 65.7 69.2 49.2 69.9
8.Tax provision 0.8 1.1 2.4 2.0 1.6 0.1
F.Cash Flow Data
607
Eco Pack Ltd.( Plastobag Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 200.1 202.7 249.3 187.9 108.5 163.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 3.0 2.5 7.0 3.1 36.3 0.8
(i)Cash 3.0 2.5 7.0 3.1 36.3 0.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 75.7 169.2 227.0 386.4 319.7 231.8
C.Fixed Assets:
4.Total assets (B4+C2) 757.9 1037.0 1310.5 1786.7 1795.5 1850.8
D.Operation:
1.Gross sales 509.6 865.9 1341.8 1463.4 2056.6 1764.9
(i)Local sales 509.6 865.9 1341.8 1463.4 2056.6 1764.9
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 399.0 710.7 1099.3 1262.7 1907.9 1577.2
3.Gross profit 110.6 155.2 242.5 200.7 148.7 187.7
8.Tax provision 2.2 3.8 5.8 6.3 8.8 0.0
F.Cash Flow Data
608
Emco Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -249.4 84.6 20.6 288.1 264.9 176.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -82.1 445.4 362.4 720.9 762.3 882.9
B.Liquidity:
1.Liquid Assets: 13.1 23.4 35.2 50.3 38.6 58.6
(i)Cash 13.1 23.4 35.2 50.3 38.6 58.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 202.7 215.3 289.0 292.3 361.0 437.3
C.Fixed Assets:
4.Total assets (B4+C2) 893.6 1233.7 1364.5 1680.3 1921.3 2138.4
D.Operation:
1.Gross sales 857.6 1014.4 1179.0 1373.5 1427.8 1550.5
(i)Local sales 760.2 906.5 1014.5 1223.0 1348.6 1457.5
(ii)Export sales 97.4 107.9 164.5 150.5 79.2 93.0
2.Cost of Sales 662.7 793.3 967.0 1109.1 1160.6 1283.5
3.Gross profit 194.9 221.1 212.0 264.4 267.2 267.0
7.Net profit before tax (D5-D6) 38.1 105.2 -14.4 10.9 -15.5 -103.1
8.Tax provision 3.8 4.5 6.7 6.0 6.3 1.2
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 4.3 8.5 -1.1 0.6 -0.8 -4.8
7.Cash flow ratio F1 as % of F2 - 25.0 -415.8 28.1 52.6 -9.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 10.0 4.3 -46.5 55.0 -40.6 -1.2
15.Return on Equity (D7 as % of A3) - 44.2 -8.3 2.5 -3.7 -19.6
3.Net profit margin (D7 as % of D1) 4.4 10.4 -1.2 0.8 -1.1 -6.6
4.Earning per share before tax (D7/No. of ordinary shares) 2.5 6.9 -0.9 0.7 -1.0 -2.9
609
Fateh Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -139.7 -181.8 -187.9 -189.9 -188.7 -183.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.0 0.0 0.0 0.1 0.2 0.1
(i)Cash 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.1 0.2 0.1
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 208.0 166.4 161.3 155.3 158.8 168.1
D.Operation:
1.Gross sales 0.0 0.0 0.0 0.0 0.0 0.0
(i)Local sales 0.0 0.0 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 0.0 0.0 0.0 0.0
3.Gross profit 0.0 0.0 0.0 0.0 0.0 0.0
5.Operating profit -4.5 -39.4 -5.4 -2.1 1.2 5.7
8.Tax provision 0.0 0.0 0.0 0.0 0.0 0.0
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 1.5 -33.5 -1.5 2.0 4.9 9.0
2.Depreciation for the year plus changes in capital employed (C3+E1) -12.6 -40.6 -1.5 2.1 4.9 9.0
610
Frontier Ceramics Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 223.9 77.3 58.2 38.9 -66.3 27.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.7 0.0 0.5 0.3 1.0 3.6
(i)Cash 0.7 0.0 0.5 0.3 1.0 3.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 170.3 48.5 61.1 91.2 57.9 68.3
C.Fixed Assets:
4.Total assets (B4+C2) 643.1 481.3 483.4 540.6 445.1 443.4
D.Operation:
1.Gross sales 49.7 0.0 5.4 56.7 94.3 124.2
(i)Local sales 49.7 0.0 5.4 56.7 94.3 124.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 57.8 0.0 10.0 62.6 179.2 121.8
3.Gross profit -8.1 0.0 -4.6 -5.9 -84.9 2.4
8.Tax provision 0.2 0.0 0.0 0.2 0.4 0.2
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -29.1 - 39.4 91.2 -59.0 -92.4
7.Cash flow ratio F1 as % of F2 -15.0 - 39.4 70.2 -46.8 -124.1
9.Overhead and other expenses as % of gross sales (D4 as % D1) 162.2 - 266.7 131.4 218.1 115.6
11.Financial expense as % of gross sales (D6 as % of D1) 8.5 - 0.0 0.4 0.2 0.6
14.Sundry debtors as % of gross sales 124.7 - 1161.1 126.8 24.4 10.8
3.Net profit margin (D7 as % of D1) -62.8 - -161.1 -30.7 -111.0 75.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -65.6 -100.0 - 950.0 66.3 31.7
611
Gammon Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 3.4 -3.6 83.9 70.3 62.5 225.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 43.5 52.5 74.7 55.0 83.6 163.8
(i)Cash 21.8 30.8 58.9 48.5 22.2 72.6
(ii)Investments 21.7 21.7 15.8 6.5 61.4 91.2
3.Inventories 0.7 0.0 197.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 234.8 266.4 447.3 552.2 571.0 710.4
D.Operation:
1.Gross sales 59.6 257.0 532.2 795.4 412.3 255.4
(i)Local sales 59.6 257.0 532.2 795.4 412.3 255.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 63.5 241.9 491.4 749.8 375.8 230.6
3.Gross profit -3.9 15.1 40.8 45.6 36.5 24.8
7.Net profit before tax (D5-D6) -20.5 3.3 13.5 24.9 -35.0 28.8
8.Tax provision 5.7 10.5 16.0 31.9 6.0 1.1
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) -21.3 -2.8 1.9 -1.6 -36.9 33.0
5.Return on assets (D7 as % of C4) -8.7 1.2 3.0 4.5 -6.1 4.1
6.Self financing ratio (E2 as % of E1) - - -2.9 49.3 -176.0 7.6
13.Tax provision as % of net pre-tax profit (D8 as % of D7) - 318.2 118.5 128.1 -17.1 3.8
15.Return on Equity (D7 as % of A3) -38.4 7.1 10.1 20.7 -24.4 5.7
3.Net profit margin (D7 as % of D1) -34.4 1.3 2.5 3.1 -8.5 11.3
4.Earning per share before tax (D7/No. of ordinary shares) -4.1 0.7 2.7 5.0 -4.3 1.0
612
Ghani Glass Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 570.9 755.0 1581.1 1737.3 2076.4 2579.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 56.7 57.2 32.5 139.8 50.7 124.7
(i)Cash 56.7 7.2 32.5 133.2 44.1 34.5
(ii)Investments 0.0 50.0 0.0 6.6 6.6 90.2
3.Inventories 246.9 256.1 462.6 550.8 658.1 792.3
C.Fixed Assets:
4.Total assets (B4+C2) 1096.3 1381.6 3478.6 3975.6 4680.5 4976.2
D.Operation:
1.Gross sales 959.7 1617.8 3106.0 3594.4 4621.2 5191.8
(i)Local sales 917.8 1562.9 2886.9 3212.9 3960.9 4491.9
(ii)Export sales 41.9 54.9 219.1 381.5 660.3 699.9
2.Cost of Sales 679.4 1258.6 2396.5 2817.3 3376.9 3665.6
3.Gross profit 280.3 359.2 709.5 777.1 1244.3 1526.2
8.Tax provision 31.7 78.4 15.4 14.4 131.0 248.1
F.Cash Flow Data
613
Ghani Value Glass Limited (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - - - 41.4
5.Debentures - - - - - 0.0
B.Liquidity:
(i)Cash - - - - - 3.5
3.Inventories - - - - - 57.4
C.Fixed Assets:
4.Total assets (B4+C2) - - - - - 287.9
D.Operation:
1.Gross sales - - - - - 265.3
(i)Local sales - - - - - 229.2
2.Cost of Sales - - - - - 244.9
3.Gross profit - - - - - 20.4
7.Net profit before tax (D5-D6) - - - - - 6.5
2.Retention in business (D7-D8-D9) - - - - - 0.4
F.Cash Flow Data
5.Return on assets (D7 as % of C4) - - - - - 2.3
4.Earning per share before tax (D7/No. of ordinary shares) - - - - - 0.9
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - - - - 0.8
614
Gillette Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 20.2 36.1 60.3 37.3 71.7 171.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 206.4 245.0 21.2 131.0 68.3 8.1
(i)Cash 170.2 232.0 21.2 131.0 68.3 8.1
(ii)Investments 36.2 13.0 0.0 0.0 0.0 0.0
3.Inventories 35.5 18.7 66.9 129.2 143.4 145.4
9.Net liquid assets (B1-B5) 131.3 137.1 -70.8 -173.8 -111.2 -253.8
C.Fixed Assets:
4.Total assets (B4+C2) 287.3 336.1 344.2 534.1 443.2 625.4
D.Operation:
1.Gross sales 572.9 817.7 662.1 743.8 1449.3 727.6
(i)Local sales 572.9 817.7 662.1 743.8 1449.3 727.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 419.7 618.5 491.4 577.6 1118.5 460.1
3.Gross profit 153.2 199.2 170.7 166.2 330.8 267.5
8.Tax provision 21.8 37.5 34.2 50.7 65.2 20.1
F.Cash Flow Data
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -9.1 42.7 -19.0 12.3 94.9 -49.8
615
Goodluck Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 7.7 9.0 9.9 6.1 7.4 9.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.4 0.3 0.5 1.8 5.1 1.6
(i)Cash 0.4 0.3 0.5 1.8 5.1 1.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 11.8 9.9 10.2 12.3 6.9 14.4
C.Fixed Assets:
4.Total assets (B4+C2) 18.0 15.6 16.0 18.5 17.5 20.5
D.Operation:
1.Gross sales 194.7 219.7 238.0 238.9 301.7 428.3
(i)Local sales 194.7 219.7 238.0 238.9 301.7 428.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 188.0 212.9 231.3 230.5 292.6 417.2
3.Gross profit 6.7 6.8 6.7 8.4 9.1 11.1
8.Tax provision 1.0 1.1 1.2 1.2 1.5 1.9
F.Cash Flow Data
616
Grays Of Cambridge (Pakistan) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 228.8 283.4 263.4 252.3 232.0 206.9
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 123.0 134.8 134.2 133.3 106.2 86.0
(i)Cash 46.0 14.2 32.3 27.3 4.2 10.6
(ii)Investments 77.0 120.6 101.9 106.0 102.0 75.4
3.Inventories 40.8 47.8 51.9 55.1 63.9 72.0
C.Fixed Assets:
4.Total assets (B4+C2) 291.6 314.0 297.4 290.1 268.0 242.2
D.Operation:
1.Gross sales 97.2 100.5 120.3 130.1 138.6 134.6
(i)Local sales 2.2 0.0 4.0 6.7 5.2 7.8
(ii)Export sales 95.0 100.5 116.3 123.4 133.4 126.8
2.Cost of Sales 63.4 61.1 74.6 84.4 89.7 80.9
3.Gross profit 33.8 39.4 45.7 45.7 48.9 53.7
8.Tax provision 3.3 2.7 4.1 3.3 2.5 1.7
F.Cash Flow Data
1.Dividend cover ratio [(D7 - D8) as % of D9] 86.2 - 87.4 69.9 52.1 -239.0
617
Hashimi Can Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 49.0 44.3 34.3 21.8 12.3 -3.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.4 1.1 0.3 0.4 0.1 0.2
(i)Cash 2.4 1.1 0.3 0.4 0.1 0.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 10.4 10.8 11.1 8.7 8.7 11.4
C.Fixed Assets:
4.Total assets (B4+C2) 136.3 134.0 131.2 128.2 128.0 130.1
D.Operation:
1.Gross sales 72.2 60.3 36.0 25.1 14.7 10.7
(i)Local sales 67.3 53.9 32.6 20.2 6.2 8.6
(ii)Export sales 4.9 6.4 3.4 4.9 8.5 2.1
2.Cost of Sales 59.5 52.7 33.7 25.0 16.9 19.4
3.Gross profit 12.7 7.6 2.3 0.1 -2.2 -8.7
8.Tax provision 0.0 0.0 0.0 1.0 0.1 0.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) 17.3 -3.6 -9.1 -11.6 -8.7 -14.8
13.Tax provision as % of net pre-tax profit (D8 as % of D7) 0.0 - 0.0 -8.6 -1.1 -0.6
618
Haydari Construction Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -12.0 -12.7 -13.1 -13.3 -13.4 -13.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 0.5 0.2 0.1 0.2 0.0
(i)Cash 1.4 0.5 0.2 0.0 0.1 0.0
(ii)Investments 0.0 0.0 0.0 0.1 0.1 0.0
3.Inventories 12.7 12.7 0.0 0.0 12.7 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 27.7 27.0 26.6 26.4 26.5 26.2
D.Operation:
1.Gross sales 1.3 0.1 0.0 0.0 0.0 0.0
(i)Local sales 1.3 0.1 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.7 0.2 0.0 0.0 0.0 0.2
3.Gross profit 0.6 -0.1 0.0 0.0 0.0 -0.2
5.Operating profit 0.4 -0.7 -0.3 -0.3 -0.1 0.0
7.Net profit before tax (D5-D6) 0.4 -0.7 -0.3 -0.3 -0.1 0.0
8.Tax provision 0.2 0.0 0.0 0.0 0.0 0.0
2.Retention in business (D7-D8-D9) 0.2 -0.7 -0.3 -0.3 -0.1 0.0
F.Cash Flow Data
5.Return on assets (D7 as % of C4) 1.4 -2.6 -1.1 -1.1 -0.4 0.0
15.Return on Equity (D7 as % of A3) 2.0 -3.6 -1.6 -1.6 -0.5 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -40.9 -92.3 -100.0 - - -
619
IBL HealthCare Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - - - -30.6
5.Debentures - - - - - 0.0
B.Liquidity:
1.Liquid Assets: - - - - - 42.8
(i)Cash - - - - - 42.8
3.Inventories - - - - - 112.9
7.Net Current Assets(B4-B5) - - - - - 165.3
C.Fixed Assets:
4.Total assets (B4+C2) - - - - - 273.7
D.Operation:
1.Gross sales - - - - - 414.9
(i)Local sales - - - - - 414.9
2.Cost of Sales - - - - - 376.0
3.Gross profit - - - - - 38.9
F.Cash Flow Data
10.Financial expenses as % of operating profit (D6 as % of D5) - - - - - -9.1
620
Indus Fruit Products Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -55.3 -76.6 -91.4 -119.0 -148.2 -148.2
3.Shareholder's Equity (A1+A2) 34.7 13.4 -1.4 -29.0 -58.2 -58.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.4 2.4 3.7 3.1 2.9 2.9
(i)Cash 0.1 0.1 1.4 3.1 0.6 0.6
(ii)Investments 2.3 2.3 2.3 0.0 2.3 2.3
3.Inventories 23.9 13.6 11.0 11.2 31.6 31.6
C.Fixed Assets:
4.Total assets (B4+C2) 153.4 133.6 138.5 171.4 182.0 182.0
D.Operation:
1.Gross sales 33.3 12.4 24.2 46.9 119.3 119.3
(i)Local sales 33.3 9.3 20.4 46.9 117.0 117.0
(ii)Export sales 0.0 3.1 3.8 0.0 2.3 2.3
2.Cost of Sales 40.3 30.7 41.7 69.4 140.3 140.3
3.Gross profit -7.0 -18.3 -17.5 -22.5 -21.0 -21.0
8.Tax provision 0.2 0.1 0.1 0.2 0.6 0.6
F.Cash Flow Data
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) 38.6 14.9 -1.6 -32.2 -64.7 -64.7
15.Return on Equity (D7 as % of A3) -28.0 -167.2 0.0 0.0 0.0 0.0
10.Break-up value of ordinary shares (in rupees) 3.9 1.5 -0.2 -3.2 -6.5 -6.5
621
Ismail Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 137.3 167.1 202.9 448.7 400.5 482.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 23.3 20.8 50.1 127.7 1137.0 965.3
(i)Cash 23.3 20.8 46.4 46.9 28.5 51.1
(ii)Investments 0.0 0.0 3.7 80.8 1108.5 914.2
3.Inventories 379.3 455.9 804.5 1213.1 1587.1 2161.8
7.Net Current Assets(B4-B5) 27.9 -47.6 -197.7 385.2 480.1 284.5
C.Fixed Assets:
4.Total assets (B4+C2) 1328.8 1727.1 2341.3 3790.6 4576.1 5651.1
D.Operation:
1.Gross sales 1389.6 1934.9 2207.3 3001.4 4192.3 5219.7
(i)Local sales 1147.5 1593.3 1925.8 2706.9 3792.5 5219.7
(ii)Export sales 242.1 341.6 281.5 294.5 399.8 0.0
2.Cost of Sales 1188.9 1679.7 1884.9 2478.4 3449.4 4103.3
3.Gross profit 200.7 255.2 322.4 523.0 742.9 1116.4
8.Tax provision 7.0 9.9 11.2 14.7 19.9 5.5
F.Cash Flow Data
622
Karam Ceramics Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 64.7 170.4 141.3 158.5 148.3 151.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 15.1 23.2 24.8 14.5 34.4 24.3
(i)Cash 15.1 23.2 24.8 14.5 34.4 24.3
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 54.9 51.4 73.1 59.1 44.4 123.9
C.Fixed Assets:
4.Total assets (B4+C2) 568.9 708.1 701.9 828.5 883.7 883.3
D.Operation:
1.Gross sales 597.4 730.8 783.5 744.9 834.5 832.7
(i)Local sales 597.4 730.8 783.5 744.9 834.5 832.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 501.5 593.6 638.6 645.6 695.6 702.7
3.Gross profit 95.9 137.2 144.9 99.3 138.9 130.0
8.Tax provision 2.4 3.0 26.7 4.7 3.9 0.0
F.Cash Flow Data
623
Leather Up Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2.3 2.3 -11.1 -18.1 -24.0 -28.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 25.4 25.4 18.7 17.9 20.9 3.6
(i)Cash 25.4 25.4 18.7 17.9 20.9 3.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 35.7 35.7 30.7 26.5 24.6 19.5
C.Fixed Assets:
4.Total assets (B4+C2) 93.1 93.1 73.1 68.0 66.9 48.6
D.Operation:
1.Gross sales 33.7 33.7 35.4 30.5 15.2 13.2
(i)Local sales 33.7 33.7 35.4 30.5 15.2 13.2
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 35.1 35.1 29.4 31.5 17.3 16.3
3.Gross profit -1.4 -1.4 6.0 -1.0 -2.1 -3.1
8.Tax provision 0.4 0.4 0.3 0.3 0.1 0.1
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -11.2 0.0 -13.4 -7.0 -5.9 -4.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -10.5 0.7 -12.9 -6.6 -5.5 -3.9
1.Dividend cover ratio [(D7 - D8) as % of D9] -250.0 - 0.0 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -58.3 0.0 5.0 -13.8 -50.2 -13.2
624
MACPAC Films Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 122.3 160.9 -45.0 -158.0 -320.6 -430.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.0 1.7 6.2 1.3 62.8 3.9
(i)Cash 1.0 1.7 6.2 1.3 62.8 3.9
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 62.6 80.9 50.2 40.4 35.1 15.3
C.Fixed Assets:
4.Total assets (B4+C2) 1314.9 1676.7 1560.5 1387.9 1133.6 1001.0
D.Operation:
1.Gross sales 333.6 109.6 546.8 468.1 404.9 133.1
(i)Local sales 333.6 109.6 541.0 463.9 402.2 133.1
(ii)Export sales 0.0 0.0 5.8 4.2 2.7 0.0
2.Cost of Sales 268.7 106.3 539.5 521.8 433.7 190.4
3.Gross profit 64.9 3.3 7.3 -53.7 -28.8 -57.3
8.Tax provision 0.8 1.9 2.4 2.1 1.7 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - 171.2 -553.4 169.2 -370.6 -212.3
3.Finance from outside the company (E1-E2) - 165.2 -462.0 373.3 -138.4 -112.1
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - 183.2 -454.8 300.5 -272.4 -132.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -77.8 -1250.0 126.1 13.5 -55.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - -67.1 398.9 -14.4 -13.5 -67.1
625
Mandviwala Mauser Plastic Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -244.8 -296.4 -192.3 -233.0 -258.9 -281.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.4 1.5 1.5 3.2 1.7 1.0
(i)Cash 2.4 1.5 1.5 3.2 1.7 1.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 11.9 20.8 16.0 21.3 39.3 25.3
C.Fixed Assets:
4.Total assets (B4+C2) 268.4 257.7 247.9 265.3 261.9 233.6
D.Operation:
1.Gross sales 271.0 299.7 230.5 303.1 249.2 233.3
(i)Local sales 263.1 289.2 225.5 298.6 248.1 232.2
(ii)Export sales 7.9 10.5 5.0 4.5 1.1 1.1
2.Cost of Sales 245.7 286.6 188.2 276.5 227.1 212.7
3.Gross profit 25.3 13.1 42.3 26.6 22.1 20.6
8.Tax provision 1.2 1.3 1.0 1.3 1.2 1.2
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) -38.7 -41.0 58.8 -27.6 -4.9 -14.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) -9.4 10.6 -23.1 31.5 -17.8 -6.4
626
Mitchell's Fruit Farms Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 198.6 211.1 184.9 210.1 208.7 218.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 6.1 11.8 14.7 26.7 10.9 13.2
(i)Cash 6.1 11.8 14.7 26.7 10.9 13.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 114.7 151.4 163.3 185.0 288.7 260.4
C.Fixed Assets:
4.Total assets (B4+C2) 446.4 478.6 481.8 576.3 719.7 726.6
D.Operation:
1.Gross sales 898.6 915.8 863.4 992.5 1190.6 1278.4
(i)Local sales 898.6 915.8 863.4 992.5 1190.6 1278.4
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 779.9 790.8 758.7 832.2 1000.8 1043.7
3.Gross profit 118.7 125.0 104.7 160.3 189.8 234.7
8.Tax provision 12.0 4.1 3.8 4.4 0.4 6.7
F.Cash Flow Data
627
Mubarak Dairies Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -134.6 -134.6 -56.6 -57.8 -57.8 -57.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.2 0.2 0.0 0.0 0.0 0.0
(i)Cash 0.2 0.2 0.0 0.0 0.0 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 0.0 0.0 0.0 0.0
C.Fixed Assets:
4.Total assets (B4+C2) 84.9 84.9 29.1 0.9 0.9 0.9
D.Operation:
1.Gross sales 21.8 21.8 0.0 0.0 0.0 0.0
(i)Local sales 21.8 21.8 0.0 0.0 0.0 0.0
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 34.3 34.3 0.0 0.0 0.0 0.0
3.Gross profit -12.5 -12.5 0.0 0.0 0.0 0.0
8.Tax provision 0.1 0.1 0.0 0.0 0.0 0.0
F.Cash Flow Data
7.Cash flow ratio F1 as % of F2 -267.8 -267.8 0.0 -3.2 20.0 20.0
13.Tax provision as % of net pre-tax profit (D8 as % of D7) -0.3 -0.3 0.0 0.0 0.0 0.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 0.0 0.0 -100.0 - - -
628
Murree Brewery Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 771.7 875.7 958.0 1068.7 3281.0 3404.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 206.2 292.1 214.8 333.4 113.7 369.4
(i)Cash 129.4 221.6 139.0 151.3 113.7 222.1
(ii)Investments 76.8 70.5 75.8 182.1 0.0 147.3
3.Inventories 132.1 174.2 269.1 347.6 492.7 503.4
C.Fixed Assets:
4.Total assets (B4+C2) 1198.9 1237.4 1448.6 1609.3 3907.3 4059.8
D.Operation:
1.Gross sales 910.6 1142.7 1672.5 2422.0 2541.3 2220.7
(i)Local sales 910.6 1142.7 1672.5 2422.0 2541.3 2220.7
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 718.7 895.2 1373.0 2009.9 2034.6 1591.4
3.Gross profit 191.9 247.5 299.5 412.1 506.7 629.3
8.Tax provision 41.0 53.0 23.8 81.5 101.9 87.2
F.Cash Flow Data
629
National Foods Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 107.6 136.8 202.5 322.6 458.5 288.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 2.9 5.6 83.0 18.1 13.5 15.2
(i)Cash 2.9 5.6 83.0 18.1 13.5 15.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 273.9 356.7 367.2 477.0 755.3 847.0
C.Fixed Assets:
4.Total assets (B4+C2) 561.4 704.5 963.9 1185.6 1744.5 1876.1
D.Operation:
1.Gross sales 1742.4 2070.8 2465.4 3147.3 4042.0 3758.7
(i)Local sales 1554.9 1850.4 2251.3 2869.3 3653.2 3264.9
(ii)Export sales 187.5 220.4 214.1 278.0 388.8 493.8
2.Cost of Sales 1358.2 1673.6 1894.2 2328.9 3056.3 2632.3
3.Gross profit 384.2 397.2 571.2 818.4 985.7 1126.4
8.Tax provision 18.5 12.0 37.0 38.0 42.0 82.0
F.Cash Flow Data
630
Nestle Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1185.3 1411.7 1942.6 3565.8 3885.7 3966.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 139.2 859.0 34.7 406.2 419.3 315.8
(i)Cash 93.3 859.0 34.7 406.2 419.3 315.8
(ii)Investments 45.9 0.0 0.0 0.0 0.0 0.0
3.Inventories 1693.8 1493.0 1907.3 2393.3 2488.6 3895.0
C.Fixed Assets:
4.Total assets (B4+C2) 5611.2 8659.2 12792.9 15756.1 16634.5 18579.8
D.Operation:
1.Gross sales 13599.4 18785.8 24062.0 30455.5 36129.6 41155.8
(i)Local sales 12903.1 17784.2 22706.7 28552.7 33922.7 37886.1
(ii)Export sales 696.3 1001.6 1355.3 1902.8 2206.9 3269.7
2.Cost of Sales 10003.6 14000.5 17809.4 22511.3 27177.3 29256.9
3.Gross profit 3595.8 4785.3 6252.6 7944.2 8952.3 11898.9
8.Tax provision 442.2 382.1 110.7 315.7 791.7 1144.2
F.Cash Flow Data
631
Noon Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 55.9 71.3 52.7 52.5 77.1 123.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 16.7 33.5 39.9 14.3 29.3 10.8
(i)Cash 16.7 33.5 39.9 14.3 29.3 10.8
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 37.8 44.3 30.2 44.3 73.4 90.0
C.Fixed Assets:
4.Total assets (B4+C2) 381.3 520.2 548.6 553.1 748.2 745.7
D.Operation:
1.Gross sales 329.0 956.8 1160.9 1168.2 1657.2 1745.6
(i)Local sales 329.0 956.8 1160.9 1168.2 1657.2 1745.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 287.7 814.1 1020.2 1004.4 1445.8 1528.6
3.Gross profit 41.3 142.7 140.7 163.8 211.4 217.0
8.Tax provision 1.5 4.4 5.5 5.8 8.2 0.5
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) 3.7 -211.0 -1900.0 7.4 44.8 159.4
7.Cash flow ratio F1 as % of F2 9.9 -12.7 58.4 -92.0 61.4 123.7
632
Pace (Pakistan) Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - - 969.1 2345.6 2856.2
5.Debentures - - - 0.0 1499.4 1499.4
B.Liquidity:
1.Liquid Assets: - - - 2059.2 5496.0 5044.5
(i)Cash - - - 307.9 1314.9 340.7
(ii)Investments - - - 1751.3 4181.1 4703.8
3.Inventories - - - 751.4 1189.8 1488.1
7.Net Current Assets(B4-B5) - - - 2972.0 5569.3 6185.1
9.Net liquid assets (B1-B5) - - - 1483.4 3015.1 2759.5
C.Fixed Assets:
4.Total assets (B4+C2) - - - 3804.2 8550.6 9015.3
D.Operation:
1.Gross sales - - - 612.7 1523.9 1261.8
(i)Local sales - - - 612.7 1523.9 1261.8
(ii)Export sales - - - 0.0 0.0 0.0
2.Cost of Sales - - - 381.2 984.0 944.4
3.Gross profit - - - 231.5 539.9 317.4
8.Tax provision - - - 3.8 11.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - - 2841.2 660.4
2.Retention in business (D7-D8-D9) - - - 161.4 1422.9 345.8
3.Finance from outside the company (E1-E2) - - - - 1418.3 314.6
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - - 174.7 1444.7 379.5
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - - 2863.0 694.1
6.Self financing ratio (E2 as % of E1) - - - 0.0 50.1 52.4
7.Cash flow ratio F1 as % of F2 - - - 0.0 50.5 54.7
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - - 150.0 160.0 -76.9
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - - 148.7 -17.2
633
Pak Leather Crafts Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 25.9 34.9 34.4 36.6 38.6 -31.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 11.9 7.5 8.7 10.0 1.6 2.5
(i)Cash 11.9 7.5 8.7 10.0 1.6 2.5
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 269.6 351.8 339.1 338.0 396.4 345.0
C.Fixed Assets:
4.Total assets (B4+C2) 382.8 468.7 469.4 451.6 515.9 455.1
D.Operation:
1.Gross sales 388.1 515.5 519.0 599.2 651.4 377.1
(i)Local sales 0.1 515.0 12.2 24.7 3.4 9.8
(ii)Export sales 388.0 0.5 506.8 574.5 648.0 367.3
2.Cost of Sales 337.2 449.0 443.0 519.1 572.2 375.9
3.Gross profit 50.9 66.5 76.0 80.1 79.2 1.2
8.Tax provision 3.2 4.6 5.7 6.5 6.5 4.0
F.Cash Flow Data
634
Pakistan Hotels Developers Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 700.0 742.3 798.4 2121.9 2140.2 2062.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 22.7 153.2 35.4 48.8 95.8 65.5
(i)Cash 22.7 49.2 28.0 48.8 76.5 65.5
(ii)Investments 0.0 104.0 7.4 0.0 19.3 0.0
3.Inventories 0.2 0.4 0.5 0.5 0.6 0.7
C.Fixed Assets:
4.Total assets (B4+C2) 1145.7 1354.3 1380.0 2584.1 2589.1 2503.0
D.Operation:
1.Gross sales 173.8 269.1 475.9 498.3 390.5 323.8
(i)Local sales 173.8 269.1 475.9 498.3 390.5 323.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 113.4 137.2 168.4 181.2 177.9 168.8
3.Gross profit 60.4 131.9 307.5 317.1 212.6 155.0
8.Tax provision 12.9 17.0 77.4 42.0 46.6 28.4
F.Cash Flow Data
2.Dividend ratio to equity (D9 as % of A3) -11.0 4.9 6.4 2.3 0.0 0.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - 200.0 211.1 -42.0 1.5 -86.4
635
Pakistan Services Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 3884.2 9598.0 10103.3 10671.5 11006.8 10655.9
5.Debentures 699.6 499.7 299.8 99.9 0.0 0.0
B.Liquidity:
1.Liquid Assets: 451.9 424.6 1432.5 1990.7 2591.9 1178.6
(i)Cash 436.9 117.0 542.0 537.9 297.2 71.6
(ii)Investments 15.0 307.6 890.5 1452.8 2294.7 1107.0
3.Inventories 29.1 28.0 35.2 29.2 45.7 42.9
9.Net liquid assets (B1-B5) -436.7 -1013.7 -390.5 68.8 -48.0 -1719.9
C.Fixed Assets:
4.Total assets (B4+C2) 6066.4 12408.6 12995.4 13330.5 14171.4 13987.8
D.Operation:
1.Gross sales 2569.5 3829.8 4875.5 5679.6 5485.7 4462.6
(i)Local sales 2569.5 3829.8 4875.5 5679.6 5485.7 4462.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1718.1 2684.9 3346.8 3805.6 3878.2 3041.3
3.Gross profit 851.4 1144.9 1528.7 1874.0 1607.5 1421.3
8.Tax provision 12.8 175.2 266.7 299.6 181.0 161.7
F.Cash Flow Data
636
Quice Food Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -174.0 -136.0 -136.0 -128.4 -122.5 -124.1
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) -32.1 -9.1 -9.1 -21.5 -15.6 1.9
B.Liquidity:
1.Liquid Assets: 0.6 0.1 0.1 0.9 0.2 0.0
(i)Cash 0.6 0.1 0.1 0.9 0.2 0.0
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 9.2 8.1 8.1 8.1 13.1 0.3
C.Fixed Assets:
4.Total assets (B4+C2) 124.7 68.3 68.3 71.0 73.7 51.8
D.Operation:
1.Gross sales 17.5 32.2 32.2 52.2 53.5 29.3
(i)Local sales 17.5 32.2 32.2 52.2 53.5 29.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 49.2 25.0 25.0 38.5 39.6 23.9
3.Gross profit -31.7 7.2 7.2 13.7 13.9 5.4
8.Tax provision 0.1 0.2 0.2 0.3 0.3 0.0
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) - 897.8 0.0 -47.6 101.7 -580.6
7.Cash flow ratio F1 as % of F2 - 753.0 4149.0 -120.5 101.0 -472.6
637
Rafhan Maize Products Co. Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 2182.7 2470.4 2634.3 2933.3 3486.1 3915.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 33.1 14.5 236.3 305.4 13.7 673.4
(i)Cash 33.1 14.5 236.3 305.4 13.7 673.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 1186.5 1378.0 1160.6 1361.8 2406.1 1166.1
C.Fixed Assets:
4.Total assets (B4+C2) 3121.6 3491.2 3526.6 3945.5 5228.8 5304.5
D.Operation:
1.Gross sales 5078.0 5584.4 6360.9 7893.4 11250.8 11428.1
(i)Local sales 4971.4 5409.2 6145.5 7389.1 10817.0 11123.5
(ii)Export sales 106.6 175.2 215.4 504.3 433.8 304.6
2.Cost of Sales 3827.2 4389.6 4789.8 5795.2 8509.6 8992.7
3.Gross profit 1250.8 1194.8 1571.1 2098.2 2741.2 2435.4
8.Tax provision 257.0 360.1 396.6 551.9 815.2 670.1
F.Cash Flow Data
638
Service Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 400.0 443.9 509.5 634.9 921.4 1401.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 15.1 12.0 5.9 7.5 7.0 208.4
(i)Cash 5.0 4.8 5.9 7.5 7.0 208.4
(ii)Investments 10.1 7.2 0.0 0.0 0.0 0.0
3.Inventories 727.1 778.8 836.7 698.6 1182.6 1253.2
C.Fixed Assets:
4.Total assets (B4+C2) 2096.7 2327.5 2477.7 2450.7 3341.9 3651.3
D.Operation:
1.Gross sales 3279.3 3820.3 4152.4 4871.9 6877.3 7680.2
(i)Local sales 2484.5 2809.6 3267.7 3788.9 5327.7 6030.7
(ii)Export sales 794.8 1010.7 884.7 1083.0 1549.6 1649.5
2.Cost of Sales 2949.1 3352.0 3572.4 4155.9 5839.2 6102.3
3.Gross profit 330.2 468.3 580.0 716.0 1038.1 1577.9
8.Tax provision 14.2 17.1 26.1 37.5 127.8 222.3
F.Cash Flow Data
639
Shabbir Tiles And Ceramics Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 285.2 352.9 388.7 430.8 581.2 904.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 58.1 60.7 83.2 68.5 135.9 148.5
(i)Cash 57.0 59.7 82.3 67.7 135.2 147.9
(ii)Investments 1.1 1.0 0.9 0.8 0.7 0.6
3.Inventories 130.5 144.9 153.3 165.4 276.5 646.5
C.Fixed Assets:
4.Total assets (B4+C2) 752.8 1011.8 1208.7 1368.3 2488.2 5695.5
D.Operation:
1.Gross sales 1026.2 1393.4 1899.7 1995.8 2363.2 2853.3
(i)Local sales 1013.6 1372.1 1881.3 1981.0 2339.2 2792.8
(ii)Export sales 12.6 21.3 18.4 14.8 24.0 60.5
2.Cost of Sales 827.2 1105.9 1467.4 1555.4 1829.6 2068.4
3.Gross profit 199.0 287.5 432.3 440.4 533.6 784.9
8.Tax provision 27.4 43.0 44.7 27.9 31.4 4.7
F.Cash Flow Data
640
Shakarganj Food Ltd. (Al-Jadeed Textile Mills Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - -71.9 -71.9 -61.3 -61.6 -61.7
3.Shareholder's Equity (A1+A2) - -48.7 -48.7 -31.3 -31.6 -31.7
5.Debentures - 0.0 0.0 0.0 0.0 0.0
8.Total Capital Employed (A3+A7) - -48.7 -48.7 -0.5 -31.6 -31.7
B.Liquidity:
1.Liquid Assets: - 2.3 2.3 0.0 0.0 0.0
(i)Cash - 2.3 2.3 0.0 0.0 0.0
(ii)Investments - 0.0 0.0 0.0 0.0 0.0
3.Inventories - 2.2 2.2 0.0 0.0 0.0
7.Net Current Assets(B4-B5) - -61.1 -61.1 -0.4 -31.6 -31.7
C.Fixed Assets:
4.Total assets (B4+C2) - 18.2 18.2 0.5 0.0 61.7
D.Operation:
1.Gross sales - 6.0 6.0 0.0 0.0 0.0
(i)Local sales - 6.0 6.0 0.0 0.0 0.0
(ii)Export sales - 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales - 1.9 1.9 0.0 0.0 0.0
3.Gross profit - 4.1 4.1 0.0 0.0 0.0
5.Operating profit - -4.8 -4.8 -0.2 -0.3 -61.7
7.Net profit before tax (D5-D6) - -4.8 -4.8 -0.2 -0.3 -61.7
8.Tax provision - 0.0 0.0 0.0 0.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - 0.0 48.2 -31.1 -0.1
2.Retention in business (D7-D8-D9) - -4.8 -4.8 -0.2 -0.3 -61.7
3.Finance from outside the company (E1-E2) - - 4.8 48.4 -30.8 61.6
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - -3.8 -3.8 -0.2 -0.3 -61.7
2.Depreciation for the year plus changes in capital employed (C3+E1) - - 1.0 48.2 -31.1 -0.1
5.Return on assets (D7 as % of C4) - -26.4 -26.4 -40.0 0.0 -100.0
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - -209.9 -209.9 -104.3 -105.3 -105.7
4.Earning per share before tax (D7/No. of ordinary shares) - -2.1 -2.1 -0.1 -0.1 -20.6
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - -2.1 -2.1 -0.1 -0.1 -20.6
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -310.0 0.0 -95.2 0.0 20500.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - 0.0 -100.0 - -
10.Break-up value of ordinary shares (in rupees) - -21.0 -21.0 -10.4 -10.5 -10.6
641
Shezan International Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 329.2 428.6 501.4 575.4 676.7 717.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 59.9 123.3 87.8 108.2 93.9 79.3
(i)Cash 48.7 112.5 76.7 108.2 84.0 70.8
(ii)Investments 11.2 10.8 11.1 0.0 9.9 8.5
3.Inventories 370.8 400.6 582.4 610.9 689.4 755.7
C.Fixed Assets:
4.Total assets (B4+C2) 660.1 772.9 1001.9 1120.4 1307.9 1354.3
D.Operation:
1.Gross sales 1367.4 1670.8 2182.5 2634.4 3020.5 2728.7
(i)Local sales 1329.7 1635.2 2138.3 2574.3 2961.3 2603.9
(ii)Export sales 37.7 35.6 44.2 60.1 59.2 124.8
2.Cost of Sales 1043.0 1213.8 1622.1 1949.3 2243.3 1974.4
3.Gross profit 324.4 457.0 560.4 685.1 777.2 754.3
8.Tax provision 35.0 70.0 55.0 110.0 90.0 60.1
F.Cash Flow Data
642
Shield Corporation Ltd.(Transpak Corp.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 84.7 88.9 101.2 98.6 99.9 101.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 0.3 0.3 1.4 0.8 0.1 0.4
(i)Cash 0.3 0.3 1.4 0.8 0.1 0.4
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 51.2 57.7 73.5 107.9 99.3 121.5
C.Fixed Assets:
4.Total assets (B4+C2) 169.1 176.3 206.4 291.0 300.1 358.2
D.Operation:
1.Gross sales 221.6 292.6 363.7 430.6 512.0 489.1
(i)Local sales 221.6 292.2 363.7 430.0 510.9 486.6
(ii)Export sales 0.0 0.4 0.0 0.6 1.1 2.5
2.Cost of Sales 152.6 192.1 234.4 286.0 370.3 342.3
3.Gross profit 69.0 100.5 129.3 144.6 141.7 146.8
8.Tax provision 3.5 0.2 2.6 2.5 0.3 0.0
3.Finance from outside the company (E1-E2) - -3.2 0.8 -8.9 -4.8 -10.0
F.Cash Flow Data
2.Depreciation for the year plus changes in capital employed (C3+E1) - 16.4 25.8 12.5 15.4 18.0
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - -21.9 140.0 -26.7 -29.5 25.8
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - 32.0 24.3 18.4 18.9 -4.5
643
Shifa International Hospitals Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 207.4 316.9 365.5 429.1 533.2 1002.8
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 72.1 76.5 83.5 125.6 168.6 133.5
(i)Cash 72.1 71.5 83.5 125.6 168.6 133.5
(ii)Investments 0.0 5.0 0.0 0.0 0.0 0.0
3.Inventories 12.1 12.6 20.1 29.8 44.9 65.6
C.Fixed Assets:
4.Total assets (B4+C2) 1253.2 1493.8 1703.4 2179.8 2324.0 2839.4
D.Operation:
1.Gross sales 683.7 876.9 1111.3 1324.7 1669.1 1948.8
(i)Local sales 683.7 876.9 1111.3 1324.7 1669.1 1948.8
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 412.1 387.6 766.8 837.9 681.8 1652.7
3.Gross profit 271.6 489.3 344.5 486.8 987.3 296.1
8.Tax provision 3.3 4.6 5.8 0.0 8.2 35.9
F.Cash Flow Data
644
Siddiqsons Tin Plate (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus - - 731.0 837.4 888.7 646.1
3.Shareholder's Equity (A1+A2) - - 1444.8 1622.6 1673.9 1431.3
5.Debentures - - 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: - - 190.7 363.4 258.8 83.0
(i)Cash - - 190.7 363.4 258.8 83.0
(ii)Investments - - 0.0 0.0 0.0 0.0
3.Inventories - - 1079.4 159.2 1031.8 1755.8
7.Net Current Assets(B4-B5) - - 499.8 745.9 830.3 619.8
C.Fixed Assets:
4.Total assets (B4+C2) - - 2605.4 2227.8 2978.3 3387.5
D.Operation:
1.Gross sales - - 3227.9 3510.3 2922.4 2639.9
(i)Local sales - - 3227.9 3510.3 2922.4 2625.7
(ii)Export sales - - 0.0 0.0 0.0 14.2
2.Cost of Sales - - 2734.4 3101.9 2549.6 2412.5
3.Gross profit - - 493.5 408.4 372.8 227.4
5.Operating profit - - 417.2 328.3 240.6 21.3
7.Net profit before tax (D5-D6) - - 355.8 266.1 181.1 -118.2
8.Tax provision - - 16.9 15.2 12.0 0.0
1.Increase/decrease in capital employed (A8 - A8 of preceding year) - - - 177.8 51.3 -242.6
2.Retention in business (D7-D8-D9) - - 267.5 133.1 51.3 -196.7
3.Finance from outside the company (E1-E2) - - - 44.7 0.0 -45.9
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) - - 325.0 182.5 96.0 -153.8
2.Depreciation for the year plus changes in capital employed (C3+E1) - - - 227.2 96.0 -199.7
5.Return on assets (D7 as % of C4) - - 13.7 11.9 6.1 -3.5
8.Shareholders equity as % of ordinary share capital (A3 as % of A1) - - 202.4 206.6 213.2 182.3
3.Net profit margin (D7 as % of D1) - - 11.0 7.6 6.2 -4.5
4.Earning per share before tax (D7/No. of ordinary shares) - - 5.0 3.4 2.3 -1.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] - - 4.7 3.2 2.2 -1.5
8.Earning per share before tax growth (current year EPS - last year EPS/ last year EPS) - - 400.0 -32.0 -32.4 -165.2
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - 8.7 -16.7 -9.7
10.Break-up value of ordinary shares (in rupees) - - 20.2 20.7 21.3 18.2
645
Syed Match Company Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -23.5 -29.1 -42.0 -50.8 -53.4 -53.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: -3.4 0.9 0.1 0.3 1.7 1.7
(i)Cash -3.4 0.9 0.1 0.3 1.7 1.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 6.5 7.1 6.8 11.5 11.6 11.6
C.Fixed Assets:
4.Total assets (B4+C2) 18.4 23.2 21.7 27.6 29.4 29.4
D.Operation:
1.Gross sales 38.0 40.1 32.1 26.6 30.4 30.4
(i)Local sales 38.0 36.3 32.1 23.3 30.4 30.4
(ii)Export sales 0.0 3.8 0.0 3.3 0.0 0.0
2.Cost of Sales 42.6 44.1 36.2 33.5 31.1 31.1
3.Gross profit -4.6 -4.0 -4.1 -6.9 -0.7 -0.7
8.Tax provision 0.2 0.2 0.1 0.1 0.1 0.1
F.Cash Flow Data
3.Acid test or Quick ratio (B4-B3 as % B5) -2.6 7.5 4.9 6.1 8.4 8.4
9.Sales growth (current year's 'sales - last year's sales / last year's sales) 25.8 5.5 -20.0 -17.1 14.3 0.0
646
Tariq Glass Industries Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 68.1 102.3 136.4 176.2 293.7 263.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 5.8 6.7 7.8 11.5 5.9 9.6
(i)Cash 5.8 6.7 7.8 11.5 5.9 9.6
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 48.1 72.0 78.9 79.5 97.5 98.0
C.Fixed Assets:
4.Total assets (B4+C2) 575.0 648.7 772.3 969.0 1165.4 1248.2
D.Operation:
1.Gross sales 746.4 972.9 1253.2 1400.9 1480.6 1409.8
(i)Local sales 725.6 902.3 1158.2 1309.1 1416.4 1289.0
(ii)Export sales 20.8 70.6 95.0 91.8 64.2 120.8
2.Cost of Sales 629.7 852.6 1077.0 1201.2 1360.3 1282.6
3.Gross profit 116.7 120.3 176.2 199.7 120.3 127.2
8.Tax provision 3.6 0.5 4.4 9.0 6.2 1.2
F.Cash Flow Data
647
Treet Corporation Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 954.9 1210.8 1216.8 1387.7 1310.3 1852.0
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 755.8 767.3 1065.5 671.8 355.4 1099.8
(i)Cash 581.7 205.5 422.6 133.3 119.4 80.2
(ii)Investments 174.1 561.8 642.9 538.5 236.0 1019.6
3.Inventories 105.3 147.3 253.3 302.4 549.0 251.5
C.Fixed Assets:
4.Total assets (B4+C2) 1488.9 1788.2 2032.3 2212.7 2735.4 3554.9
D.Operation:
1.Gross sales 1231.3 1395.4 1476.3 1457.2 1288.0 1573.8
(i)Local sales 1027.6 1098.8 1110.0 1039.3 833.1 899.3
(ii)Export sales 203.7 296.6 366.3 417.9 454.9 674.5
2.Cost of Sales 841.0 957.0 1198.1 1201.3 1126.5 1229.5
3.Gross profit 390.3 438.4 278.2 255.9 161.5 344.3
8.Tax provision 74.0 73.9 10.0 18.2 5.1 23.2
F.Cash Flow Data
648
Tri-Pack Films Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 650.2 689.2 782.1 952.6 1012.2 1276.6
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 14.0 23.5 208.9 375.7 297.1 229.8
(i)Cash 14.0 23.5 208.9 325.3 297.1 229.8
(ii)Investments 0.0 0.0 0.0 50.4 0.0 0.0
3.Inventories 433.8 313.9 277.0 640.8 950.4 1002.6
C.Fixed Assets:
4.Total assets (B4+C2) 2776.0 2757.9 2812.4 3341.7 4313.2 4497.2
D.Operation:
1.Gross sales 2054.6 3391.0 4351.0 5386.1 7100.2 5685.7
(i)Local sales 2054.6 3010.0 4027.3 5348.6 7033.5 5443.1
(ii)Export sales 0.0 381.0 323.7 37.5 66.7 242.6
2.Cost of Sales 1773.1 3041.4 3842.2 4458.4 6090.1 4695.0
3.Gross profit 281.5 349.6 508.8 927.7 1010.1 990.7
8.Tax provision 9.0 15.1 19.2 148.3 134.2 168.8
F.Cash Flow Data
649
Unilever Pakistan Foods Ltd. (Rafhan Bestfoods Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 263.3 297.5 316.8 -43.7 58.5 125.5
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 34.5 126.9 172.1 16.2 8.0 40.7
(i)Cash 34.5 126.9 172.1 16.2 8.0 40.7
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 168.1 148.5 279.9 378.0 352.4 333.8
C.Fixed Assets:
4.Total assets (B4+C2) 554.2 561.2 705.3 765.5 834.4 893.2
D.Operation:
1.Gross sales 1585.5 1824.3 2373.2 2917.0 3748.4 3376.5
(i)Local sales 1585.5 1824.3 2373.2 2917.0 3748.4 3376.5
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 1242.0 1298.7 1641.9 2028.6 2591.3 2122.1
3.Gross profit 343.5 525.6 731.3 888.4 1157.1 1254.4
8.Tax provision 39.8 49.8 76.3 118.9 152.8 104.6
3.Finance from outside the company (E1-E2) 47.9 -9.2 20.9 -15.0 -53.6 139.3
F.Cash Flow Data
6.Self financing ratio (E2 as % of E1) -239.7 126.9 -8.3 95.8 152.4 -107.9
650
Unilever Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 1596.0 1340.4 1158.6 1312.4 1552.6 2632.2
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1155.4 522.4 681.1 283.9 202.0 334.8
(i)Cash 1060.2 427.2 585.9 188.7 106.8 239.6
(ii)Investments 95.2 95.2 95.2 95.2 95.2 95.2
3.Inventories 1809.1 1804.8 2156.5 2726.1 4261.8 3649.1
C.Fixed Assets:
4.Total assets (B4+C2) 5823.6 5784.8 6412.9 8072.1 11379.2 11423.3
D.Operation:
1.Gross sales 22335.9 22473.2 26536.8 29854.8 39057.2 38187.6
(i)Local sales 22335.9 22473.2 26536.8 29854.8 39057.2 38187.6
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 16812.5 15619.5 18658.6 20771.7 28121.5 24852.6
3.Gross profit 5523.4 6853.7 7878.2 9083.1 10935.7 13335.0
8.Tax provision 610.4 559.5 860.0 727.9 863.3 1193.4
1.Increase/decrease in capital employed (A8 - A8 of preceding year) 1256.3 -251.4 -201.9 206.7 269.4 1059.1
F.Cash Flow Data
651
United Brands Ltd.(Udl Industries Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus -10.8 -11.0 -6.7 -7.3 -7.5 -24.7
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 1.4 1.2 11.9 7.2 11.4 20.2
(i)Cash 1.4 1.2 11.9 7.2 11.4 20.2
(ii)Investments 0.0 0.0 0.0 0.0 0.0 0.0
3.Inventories 0.0 0.0 22.8 59.6 72.4 76.5
9.Net liquid assets (B1-B5) 1.2 1.0 -45.4 -109.0 -137.1 -159.8
C.Fixed Assets:
4.Total assets (B4+C2) 1.4 1.2 62.5 124.5 154.8 167.5
D.Operation:
1.Gross sales 0.0 0.0 122.5 334.7 514.8 580.3
(i)Local sales 0.0 0.0 122.5 334.7 514.8 580.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 0.0 0.0 108.3 291.0 468.4 521.8
3.Gross profit 0.0 0.0 14.2 43.7 46.4 58.5
5.Operating profit 0.9 -0.2 5.0 7.8 7.4 -15.3
8.Tax provision 0.0 0.0 1.6 3.9 2.4 0.0
2.Retention in business (D7-D8-D9) 0.1 -0.2 2.9 2.3 -8.4 -16.8
F.Cash Flow Data
1.Depreciation for the year plus retention in business: cash flow (C3+E2) 0.1 -0.2 3.1 5.1 -6.6 -15.5
5.Earning per share after tax [(D7-D8)/No. of ordinary shares] 0.8 -0.2 2.4 1.9 3.0 -14.0
9.Sales growth (current year's 'sales - last year's sales / last year's sales) - - - 173.2 53.8 12.7
652
United Distributors Pakistan Ltd. (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 38.4 38.2 20.2 23.1 58.9 126.3
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 115.1 34.3 32.2 36.6 152.6 221.2
(i)Cash 3.6 7.9 5.8 10.2 3.3 29.9
(ii)Investments 111.5 26.4 26.4 26.4 149.3 191.3
3.Inventories 46.3 35.0 92.0 128.3 271.2 353.5
C.Fixed Assets:
4.Total assets (B4+C2) 205.1 183.5 248.5 326.0 510.4 729.8
D.Operation:
1.Gross sales 66.7 81.4 130.8 311.1 656.8 773.3
(i)Local sales 66.7 81.4 130.8 311.1 656.8 773.3
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 50.2 60.2 110.2 252.1 542.1 585.9
3.Gross profit 16.5 21.2 20.6 59.0 114.7 187.4
8.Tax provision 0.8 0.3 0.1 1.4 4.0 9.6
1.Increase/decrease in capital employed (A8 - A8 of preceding year) -3.6 -2.5 -9.3 12.5 29.1 109.0
F.Cash Flow Data
653
ZIL Ltd. (Zulfeqar Industries Ltd.) (Million Rupees)
Items
2004 2005 2006 2007 2008 2009
2.Surplus 156.8 206.7 204.4 265.7 274.7 316.4
5.Debentures 0.0 0.0 0.0 0.0 0.0 0.0
B.Liquidity:
1.Liquid Assets: 104.0 70.3 96.9 87.0 34.2 149.6
(i)Cash 41.5 23.7 47.7 59.1 34.2 124.6
(ii)Investments 62.5 46.6 49.2 27.9 0.0 25.0
3.Inventories 95.9 126.7 121.9 134.4 258.8 204.8
C.Fixed Assets:
4.Total assets (B4+C2) 401.2 417.6 481.3 557.4 643.5 725.2
D.Operation:
1.Gross sales 896.4 1027.7 1135.3 1149.0 1391.2 1350.1
(i)Local sales 896.4 1027.7 1135.3 1149.0 1391.2 1350.1
(ii)Export sales 0.0 0.0 0.0 0.0 0.0 0.0
2.Cost of Sales 736.0 856.7 861.2 883.5 1105.4 990.9
3.Gross profit 160.4 171.0 274.1 265.5 285.8 359.2
8.Tax provision 16.2 17.6 26.3 12.4 16.9 32.6
F.Cash Flow Data
654
AKD Capital Ltd. (Akd Securities & Safe Deposit Co. Ltd.)
416-418, Continental Trade Square, Main Clifton Road, Karachi.
Mr. Aqeel A. Karim Dhedhi(Chairman) MCB Bank Ltd. M/s Muniff Ziauddin & Co.
Mr. Naseer Ahmed(Chief Executive) United Bank Ltd.
Mr. Mohammad Sohail(Director) Standard Chartered Bank Ltd.
Mrs. Mehrunnisa Siddique(Director)
Mrs. Yasmeen Aqeel(Director)
Ms. Ayesha Aqeel(Director)
Ms. Anum Aqeel(Director)

Deposatary and fund management
Al-Khair Gadoon Ltd.

Plot No. 92/3, Phase-III, Industrial Estate, Gadoon Amazai, Distt. Sawabi, NWFP.
Mr. Mohammad Afzal Sheikh(Chairman) Allied Bank Of Pakistan Ltd. M/S Tahir Siddiqi & Co.
()
Mr. Mohammad Saeed Sheikh(Chief Executive)
Mrs. Munawar Pervaiz(Director)
Mrs Perveen Afzal(Director)
Mrs. Farnaz Saeed(Director)
Mr. Mohammad Amin Sheikh(Director)

Foam M. Tons 26,560 861
655
Arpak International InvestmentsLtd.
King's Arcade, 20-A, Markaz F-7, Islamabad.
Begum Laila Sarfaraz(Chief Executive) Bank Alfalah Ltd. M/S Hameed Chaudhri & Co.
Mr. Abbas Sarfaraz Khan(Director) Bank Al-Habib Ltd.
Mr. Abdul Qadar Khattak(Director) The Bank of Khyber
Mr. Aziz Sarfaraz Khan(Director) Silk Bank Ltd.
Mr. Iskander M. Khan(Director) Standard Charted Bank Ltd.
Ms. Najda Sarfaraz(Director) MCB Bank Ltd
Ms. Zarmine Sarfaraz(Director)

Deposatary and fund management
Balochistan Glass Ltd.

Firduosi Manzil, Rustamji Lane, M. A. Jinnah Road, Quetta.
Mr. Muhammad Tousif Peracha(Chairman/C.E.) Atlas Bank Ltd. M/s. Faruq Ali & Co.
Mr. Jawaid Aziz Paracha(Chief Executive) Citibank N.A.
Mr. Muhammad Niaz Paracha(Director) Al Baraka Islamic Bank
Mr. Muhammad Shareef paracha(Director) The Hong Kong & Shanghai Banking Corporation Ltd
Mr. Tariq Siddiq Peracha(Director) Meezan Bank Ltd.
Mr. Arshad Siddiq Paracha(Director) The Bank Of Punjab
Mr. Muhammad Ishaque Khokhar(Director) United Bank Ltd.

Glass Container M. Tons 120,400 32,170
Plastic shells Pieces 2,300,000 305,800
656
Bata Pakistan Ltd.
Batapur, G. T. Road, Post Office Batapur, Lahore.
Mr. Fernando Garcia(Chairman) Bank Al-Habib Limited M/s. Emst & Young Ford Rhodes Sidat Hyder
Mr. M. Imran Malik(Chief Executive) Habib Metropolitan Bank Limted
Mr. Fakir Syed Aijazuddin(Director) Habib Bank Ltd.
Mr. M. G. Milddleton(Director) MCB Bank Ltd
Mr. Muhmmad Ali Malik(Director) National Bank Of Pakistan
Mr. Ijaz Ahmed Chaudry(Director) Atlas Bank Ltd.
Mr. Garlos Gomez(Director)
Date of Annual General Meeting 22nd April , 2010 Face Value Rs. 10.00

Rubber & canvas No. of Pairs 1,253 0
Leather No. of Pairs 5,930 8,243
Plastic No. of Pairs 2,120 2,151
Clover Pakistan Ltd.

Mr. Iqbal Ali Lakhani(Chairman) Habib Bank Ltd. Ford Rhodes Sidat Hyder & Co.
Mr. Zulfiqar Ali Lakhani(Chief Executive) MCB Bank Ltd.
Mr. A. Aziz H. Ebrahim(Director)
Mr. Amin Mohammed Lakhani(Director)
Mr. M. A. Qadir(Director)
Mr. Shahid Ahmed Khan(Director)
Mr. Tasleemuddin Ahmed Batlay(Director)

Food Products M.Tons 4,092 6,456
Plastic Products M.Tons 27 37
657
Dadabhoy Construction Tech. Ltd.(Pak German Prefabs Ltd.)
C-30/II, 24th Commercial Street, Phase-2 (Ext.) D.H.A. Karachi.
Mr. Mohammad Hussain Dadabhoy(Chairman) Silk Bank Ltd. M/s A.R.Khan & Co.
Mr. Fazal Karim Dadabhoy(Chief Executive)
Mr. Mohammad Amin Dadabhoy(Director)
Mrs. Noor Bhakt Dadabhoy(Director)
Mr. Nasimuddin(Director)
Mrs. Humaira Dadabhoy(Director)

Concrete Cubic meters 26,000 Nil
Diamond Industries Ltd.

Plot # 2, Gadoon Amazai, Industrial Estate, Didt. Sawabi, Khyber Pakhtunkhua
Mr. Waqar A. Shaffi(Chairman) Allied Bank Of Pakistan Ltd. M/s. M.A.Tabussum & Co.
Mr. Shariq Iftikhar(Chief Executive) Silk Bank Ltd.
Mr. Muhammad Sameer(Director) Habib Metropolitan Bank Limted
Mr. Abdul Shakoor(Director) Askari Commercial Bank Ltd.
Mr. Zahoor Ahmed(Director) Standard Chartered Bank Ltd,
Mr. Sohail Malik(Director)
Mr. Hashim Aslam Butt(Director)

Foams production M. Tons 12,000 Nil
PVA production M. Tons 1,560 Nil
658
Dreamworld Ltd.
Dreamworld Tower, 65-A.M., Streachen Road, Opp. Arts Council, Behind Sindh Assembly, Karachi.
Mr. Tariq Hilal(Chairman) MCB Bank Ltd. M/s M. Sikandar & Company
Mr. Irfan Hilal Ahmed(Chief Executive) The Royal Bank of Scotland Ltd.
Mrs. Nida Irfan(Director) Citibank N.A.
Mr. Zafar Uddin Siddiqui(Director) Bank Al-Falah Ltd.
Mrs. Sadia Imran(Director) United Bank Ltd.
Mrs. Sara Amir(Director) Standard Chartered Bank
Mrs. Tooba Tariq(Director)

Rest and resort facility
Eco Pack Ltd.( Plastobag Ltd.)

Suit-206, 2nd Floor, The Plaza, Kekhshan Clifton, Block-9, Karachi.
Mr. Hussain Jamil(Chairman/C.E.) Askari Bank Ltd. M/s. Rahman Sarfaraz Rahim Iqbal Rafiq Co.
Mr. Ahsan Jamil(Director) Allied Bank Ltd.
Syed Sohail Raza Zaidi(Director) Habib Bank Ltd.
Mr. Shahid Jamil(Director) JS Bank Ltd.
Mrs. Deborah Jamil(Director) The Royal Bank of Scottland Ltd.
Mrs. Ayesha Khan(Director)
Mr. Asad Ali Sheikh(Director)

Injections No. (in thousands) 415733 270839
Blowing No. (in thousands) 304200 203237
659
Emco Industries Ltd.
119/E-I, Hali Road, Gulberg-III, Lahore.
Mr. S. A. Mannan(Chairman) Standard Chartered Bank ( Pakistan) Ltd. M/S A. F. Ferguson & Co.
Mr. Tariq Rehman(Chief Executive) Habib Bank Ltd.
Mr. Shafiq A. Siddiqui(Director) National Bank of Pakistan
Mr. Haris Noorani(Director) RBS Bank Ltd.
Mr. Javaid Shafiq(Director) Faysal Bank Ltd.
Mr. Suhail Mannan(Director) Bank Of Punjab
Mr. Tahir Rehman(Director)

Insulators produced M. Tons 5,000 4,567
Wall tiles produced S. Meters 2,466,000 2,405,919
Floor tiles produced S. Meters 900,000 683,478
Fateh Industries Ltd.

Fateh Industries Ltd.,Mirpurkhas Road, Hyderabad.
Mr. Saeed Alam(Chairman / C.E.O.) United Bank Ltd. M/s. Tanwir Arif & Co.
Mr. Aftab Alam(Director)
Mr. Mohammad Mohsin(Director)
Mr. Mohammad Naveed(Director)
Mr. Rauf Alam(Director)
Mr. Faraz Alam(Director)
Mrs. Najma Roshan(Director)

Leather and footware
660
Frontier Ceramics Ltd.
29, Industrial Estate, Jamrud Road, Peshawar.
Mr. Omer Khalid(Chairman / C.E.O.) Bank Al-Habib Ltd. M/s. Amir Alam & Co.
Mr. Raja Ghazanfar(Director) National Bank Of Pakistan
Ms. Shazia Khalid(Director) United Bank Ltd.
Ms. Farhat(Director)
Ms. Sana Khalid(Director)
Mrs. Pervez Aslam(Director)
Mr. Zia Khalid(Director)
Date of Annual General Meeting 22nd June , 2010 Face Value Rs. 10.00

Sanitaryware Tons 3,000 -
Tiles Sq. Meters 2,700,000 1,095,000
Gammon Pakistan Ltd.

Gammon House, 400/2, Peshawar Road, Rawalpindi.
Syed Wajid Hussain Bukhari(Chairman) Allied Bank Of Pakistan Ltd. M/s. Hameed Chaudhri & Co.
Lt. Gen. (Retd.) Ali Kuli Khan Khattak(Chief Exec Askari Commercial Bank Ltd.
Mr. Ahmed Kuli Khan Khattak(Director) Silk Bank Ltd.
Mr. Raza Kuli Khan Khattak(Director) Bank Al-Falah Ltd.
Mr. Mushtaq Ahmed Khan-FCA(Director) National Bank Of Pakistan
Mr. A. Karim Khan(Director) The Bank Of Punjab
Mr. Amjad Hussain Malik(Director) United Bank Limited

Construction work
661
Ghani Glass Ltd.
50-L, Model Town, Lahore.
Mr. Shahid Khan(Director) Albaraka Islamic Bank KPMG Taseer Hadi & Co.
Mr. Aitzaz Ahmed Khan(Chairman) Allied Bank Of Pakistan Ltd.
Mr. Imtiaz Ahmed Khan(Chief Executive) Habib Bank Ltd.
Hafiz Avais Ghani(Director) National Bank Of Pakistan
Mr. Aftab Ahmed Khan(Director) Dawood Islamic Bank Ltd.
Mr. Anwaar Ahmed Khan(Director) Soneri Bank Ltd.
Mr. Faysal Essam T. Hamza(Director) Bank Al-Falah Ltd.

Float glass Metric tons 127,750 106,089
Hollow glass Metric tons 133,315 98,077
Ghani Value Glass Limited

50/L, Model Town, Lahore
Mr. Imtiaz Ahmad Khan(Chairman) Allied Bank Of Pakistan M/s. Hameed Chaudhri & Co.
Mr. Anwaar Ahmad Khan(Chief Executive) Habib Metorpolitan Bank Ltd.
Mr. Aftab Ahmad Khan(Director) United Bank Ltd.
Mr. Junaid Ghani(Director)
Mr. Obaid Ghani(Director)
Mrs. Ayesha Aftab(Director)
Mrs. Reema Anwaar(Director)

Mirror Glass Sq. Meter 2,592,000 886,272
662
Gillette Pakistan Ltd.
5th Floor, Bahria Complex-1, 24,M.T.Khan Road, Karachi
Mr. Al Abdulmalek Rijwani(Chairman) Citibank N.A. M.Yousuf Adil Saleem & Co,
Mr. Saad Amanullah Khan(Director)
Mr. Sami Ahmed(Director)
Mr. Faisal Sabzwari(Director)
Mr. Vincent Philippe Litrico(Director)
Muhammad Noor-e-Arshi Khan(Director)
Mr. Salim Adaya(Director)

Presonal care products
Goodluck Industries Ltd.

S-49/A, S.I.T.E, Mangopir Road, Karachi.
Haji Hasham Haji Kassam(Chief Executive) MCB Bank Ltd. M/s. Muniff Ziauddin & Co.
Haji Moosa haji Kassam(Director) Habib Metropolitan Bank Limted
Mr. Ashfaq Haji Hasham(Director) United Bank Ltd.
Mr. Mohammad Abbas Memon(Director) Bank Al-Falah Ltd.
Mr. Mohammed Bachal Memon(Director) Bank Al Habib Ltd.
Mr. Salim Rehmatullah Dada(Director)
Mr. Shams-ul-Haque(Director)
Ordinary Shares (%) 20 Lowest Price in 2009 Rs.

Storage of food crops M. Tons 92,700 17,710
663
Grays Of Cambridge (Pakistan) Ltd.
Small Industries Estate, Sialkot - 4.
Mr. Neil Douglas James Gray(Chairman) MCB Bank Ltd. M/s. M.A. Tabbusum & Co.
Mr. Khawar Anwar Khawaja(Chief Executive) National Bank of Pakistan.
Mr. Khurram Anwar Khawaja(Director) Crescent Commercial Bank Ltd.
Mr. Muhammad Tahir Butt(Director)
Mr. Nicholas John Gray(Director)
Mr. Paul Douglas Gray(Director)
Mr. Sarfraz Mahmood(Director)

Sports goods Indeterminable Indeterminable
Hashimi Can Company Ltd.

B/24, Sindh Industrial Trading Estate, Textile Avenue, Karachi.
Mr. Munawar A. Malik(Chairman / C.E.O.) Allied Bank Of Pakistan Ltd. M/S Rao & Co.
Mr. Zaheer A. Malik(Managing Director) National Bank Of Pakistan
Mr. Asif Ali Mufti(Director) United Bank Ltd.
Mr. Naseer Ali Malik(Director) Bank Al-Falah Ltd.
Mr. M. Imran Rafiq (NIT)(Director)
Mrs. Humera Malik(Director)
Mrs. Musarrat Bano Malik(Director)

Indeterminable
664
Haydari Construction Company Ltd.
Mezannine Floor, U. B. L. Building, Opp: Police Head Office, I.I.Chundrigar Road, Karachi-74000.
Mr. S. M. Vakil(Chairman) MCB Bank Ltd. M/s. Hyder Bhimji & Co.
Mr. Ali Asghar Rajani(Chief Executive) National Bank Of Pakistan
Mr. Abdur Razzak(Director) United Bank Ltd.
Mr. S. Qamar Ali Shah(Director)
Mr. Sohail Ahmed Qureshi(Director)
Mr. Faiz A. Subzwari(Director)
Mr. Mumtaz Ali(Director)

Construction works
IBL HealthCare Ltd.

9th Floor, NIC Building, Abbasi Shaheed Road, Karachi.
Mr. Rashid Abdulla(Chairman/C.E.) Silk Bank Ltd. M/s. Baker Tilly Mehmood Idrees Qamar & Co.
Mr. Khalid Malik(Director) National Bank of Pakistan
Syed Nadeem Ahmed(Director) Standard Chartered Bank (Pakistan) Ltd.
Mr. Munis Abdulla(Director) Habib Bank Ltd.
Mr. Zubair Palwala(Director) The Royal Bank of Scotland
Mr. Asad Abdulla(Director)
Mr. Ayaz Abdulla(Director)
665
Indus Fruit Products Ltd.
65-K.M. Main Multan Road, Jamber Kalan, Tehsil Chunian, Dist. Kasur
Mr. Ahmad Masood(Chairman) MCB Bank Ltd. M/s. Kamran & Co.
Mr. Shabbir Ghani(Chief Executive) United Bank Ltd.
Mr. M. Abul Hassan Asim(Director) Saudi Pak Commercial Bank Ltd.
Mr. Ghulam Farid(Director)
Mr. Sohail Masud(Director)
Mr. Mohammad Saleem(Director)
Mr. Muhammad Khalid(Director)

Crushing of different fruits M.Tons 13,645 197
Tetra Pak Juices Packs/hours 7,500 20,705
Pet bottle juice bottles/hours 10,000 240
Ismail Industries Ltd.

17, Banglore Town, Main Shahrah-e-Faisal, Karachi.
Mr. Muhammad M. Ismail(Chairman) Bank Al-Habib Ltd. M/S Anjum Asim Shahid Rehman
Mr. Miftah Ismail(Chief Executive) Citibank N.A.
Mr. Maqsood Ismail(Director) Allied Bank Ltd.
Mr. Munsarim Saif(Director) Habib Bank Ltd.
Mrs. Anisa Naviwala(Director) Habib Metropolitan Bank Limited
Mrs. Nafisa Yousuf Palla(Director) Bank Al-Falah Ltd.
Mrs. Rashida Iqbal(Director) Standard Chartered Bank

Food processing M. Tons 51,750 40,351
Plastic film M. Tons 5,000 4,874
666
Karam Ceramics Ltd.
BC-6, Block-5, Scheme No.5, Kehkashan, Clifton, Karachi
Mr. Shaban Ali G. Kassim(Chairman) Habib Bank Ltd. M/s. Qavi & Co.
Mr. Munawar Ali S. Kassim(Chief Executive) MCB Bank Ltd.
Mr. Irshad Ali S. Kassim(Vice Chairman) National Bank Of Pakistan
Mr. Shahnawaz Madhani(Director) Soneri Bank Ltd.
Ms. Shaheen Ali(Director) Habib Metropolitan Bank Limted
Ms. Sakin Noorullah(Director)
Mrs. Mariam Shaban Ali(Director)

Tiles Sq. Meters 3,100,000 2,909,758
Leather Up Ltd.
Plot # 23/C, 15th Comm. Street, Phase II Ext., Defence Housing Authority, Karachi.
Mr. S. Khalid H. Shah(Chairman / C.E.O.) Faysal Bank Ltd. M/s. Rahman Sarfaraz Rahim Iqbal Rafiq
Mr. S. Nazeer H. Shah(Director) MCB Bank Ltd.
Mr. Gulnaz K. Shah(Director) My Bank Ltd.
Mr. Majid M. Fazir(Director) United Bank Ltd.
Mr. Reza Ali Shah(Director)
Ms. Rashida A. Shah(Director)
Mr. Shahjahan Shah(Director)

Different leather finished products Numbers 49,466 5,221
667
MACPAC Films Ltd.
F/2, A-F, S.I.T.E, Karachi.
Mr. Maqbool Elahi(Chief Executive) Faysal Bank Ltd. M/s. Avais Hyder Liaquat Nauman
Mr. Muhammad Sadiq Khan(Chairman) Habib Bank Ltd.
Mr. Naeem Ali Mohammad(Director) Bank Al Falah Ltd.
Mrs. Rukhsana Maqbool(Director) Emirates Globale Islamic Bank
Mr. Shariq Maqbool Elahi(Director) MCB Bank Ltd.
Miss Sana Nauman(Director) NIB Bank Ltd.
Air Marshal (R) Azim Daudpota(Director)

BOPP M.Tons 18,000 2,358
CPP M.Tons - -
Mandviwala Mauser Plastic Industries Ltd.

Mandviwala Building, Old Queens Rood, Karachi-74000.
Mr. Ali H. Mandviwalla(Chairman / C.E.O.) Bank Alfalah Ltd. M/s. Jalis Ahmed & Co.
Mr. Masih ul Hassan(Director) Habib Bank Ltd.
Mr. Azeem H. Mandviwalla(Director) Industrial Development Bank Of Pakistan
Mr. Kalbe Abbas Dharmasey(Director) MCB Bank Ltd.
Mr. Mohammad Anwar (SAPICO))(Director) Saudi Pak Ind. & Agr. Inv. Co. (Pvt.) Ltd.
Mr. Nadeem H. Mandviwalla(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Rahmat Karim Fazli(Director)

Plastic products M.Tons 4,275 1,306
668
Mitchell's Fruit Farms Ltd.
39-A, D-1, Gulberg-III, Lahore.
Mr. S. M .Mohsin(Advisor) RBS Bank Ltd. M/s. A. F. Ferguson & Co.
Mr. Mehdi Mohsin(Chairman) Askari Bank Ltd.
Mr. Mujeeb Rashid(Chief Executive) Citibank N.A.
Syed Faisal Imam(Director) MCB Bank Ltd.
Mr. Moaz Mohiuddin(Director) Allied Bank Ltd.
Mst.Umme Kulsum Imam(Director) Habib Bank Ltd.
Mr. Jamil Nasim (NIT)(Director) Natioanl Bank of Paksitan

Groceries Dozens Indeterminable 1,381,357
Confectionery M. Tons Indeterminable 5,003
Mubarak Dairies Ltd.

Awan House, 23-Jail Road, Lahore.
Mr. Khalid Suraj Bajwa(Chairman / C.E.O.) Zari Taragiati Bank Ltd. M/s Ather & Co.
Mr. Naeem Ahmed Bajwa(Director) RBS Bank Ltd.
Mr. Zahid Mehmood Bajwa(Director) Common Wealth Development Corp. (U.K.)
Mr. Tahir Mehmood Bajwa(Director)
Mr. Hassan Khalid Bajwa(Director)
Mr. Waseem Anwar Khan(Director)
Mr. Hameed Ali Qureshi(Director)

Dairy products
669
Murree Brewery Company Ltd.
National Park Road,Rawalpindi.
Mr. Khurram Muzaffar(Chairman) Askari Bank Ltd. KPMG Taseer Hadi & Co.
Mr.Isphandyar M. Bhandara(Chief Executive) Bank Alfalah Ltd.
Lt. Gen. (R) Zarrar Azim(Director) Standard Chartered Bank ( Pakistan) Ltd.
Ch. Moeen Afzal(Director) National Bank Of Pakistan
Mr. Usman Khalid Waheed(Director) Bank of Khyber
Mr. Aamir H. Shirazi(Director) Allied Bank Ltd.
Mr.Goshi M. Bhandara(Director)

Beer and Malt Th. Liters 5,450 8,224
Food products Cartons 375,000 113,984
Alcohol Th. Liters 2,000 1,971
National Foods Ltd.

12/CL-6, Claremont Road, Civil Lines, Karachi-75530
Mr. Adbul Majeed(Chairman) The Royal Bank of Scotland M/s. A.F.Ferguson & Co.
Mr. Abrar Hasan(M.D. / C.E.O.) Bank Al-Habib Ltd.
Mr. Khwaja Munir Mashooqullah(Director) United Bank Ltd.
Mr. Waqar Hasan(Director) MCB Bank Ltd.
Mr. Zahid Majeed(Director) Bank Al Falah Ltd.
Mr. Ebrahim Qasim(Director) Braclays Bank Ltd.
Mr. Iqbal Alimohammed(Director) Meezan Bank Ltd.

Spices M. Tons 6,265 6,108
Pickles M. Tons 7,644 5,525
Pastes M. Tons 13,923 6,107
670
Nestle Pakistan Ltd.
308 Upper Mall, Lahore.
Syed Yawar Ali(Chairman) Citibank N.A. KPMG Taseer Hadi & Co.
Mr. Jan J. Donald(Managing Director) Deutsche Bank A.G.
Mr. Fritz van Dijk(Director) Habib Bank Ltd.
Mr. Raymond Franke(Director) MCB Bank Ltd.
Mr. Alexandre Cantacuzene(Director) Standard Chartered Bank
Syed Babar Ali(Director) United Bank Ltd.
Syed Hyder Ali(Director) National Bank of Pakistan.
Year Ending : 31st December , 2009 Market Price as on 31/12/2009 Rs. 1,245.96
Ordinary Shares Bonus (%) Average Price in 2009 Rs. 1,060.00

Liquid dairy products Th. Liters 967,849 640,955
Non-liquid dairy products Th. Kgs 158,602 68,059
Noon Pakistan Ltd.

1st Floor, Alfalah Building, Shahrah -e- Quqid -e- Azam, Lahore.
Mr. Manzoor Hayat Noon(Chairman / C.E.O.) M/s Hameed Chaudhri & Co.
Mr. K. Iqbal Talib(Director) Allied Bank Ltd.
Mr. Zaheer Ahmed Khan(Director) United Bank Ltd.
Mr. Javed Ali Khan(Director) National Bank of Pakistan.
Mr. Safdar M. Hayat Qureshi(Director) Askari Bank Ltd.
Mr. Adnann Hayat Noon(Director) Bank Al-Falah Ltd.
Mr. Salman Hayat Noon(Director) RBS Bank Ltd.

Milk Powder and Butter M. Tons 44,416 17,162
Cheese M. Tons 3,275 2,801
Pasteuised Milk Thousand Liters 5,840 1,807
671
Pace (Pakistan) Ltd.
103-C/11, Gulberg III, Lahore
S. Sulieman Ahmed Said Al-Hoqani(Chairman) Allied Bank Ltd. M/s. A. F. Fergusan & Co.
Mr. Salman Taseer(Chief Executive) Arif Habib Bank Ltd.
Ms. Aamna Taseer(Director) Bank Al-Falah Ltd.
Mr. Shahbaz Ali Taseer(Director) Habib Bank Ltd.
Mr. Abid Raza(Director) Bank Al Habib Ltd.
Mr. Jamal Said Al-Ojaili(Director) Standard Chartered Bank ( Pakistan) Ltd.
Mr. Mohammad Ali Athar(Director) Faysal Bank Ltd.

To build and carryout commercial
activities of tangible and intangible
goods.
Pak Leather Crafts Ltd.

Plot -15 Sector 7-A, Korangi Industrial Area, Karachi.
Mr. Muhammad Saleem Ahmed(Chairman & C.E Albaraka Islamic Bank M/s. S.M. Rehan & Co.
Dr. Mohammad Shoaib Ahmed(Director) Habib Metropolitan Bank Ltd.
Mr. Umer Ahmed(Director) Soneri Bank Limited
Mr. Azeem Ahmed(Director) Habib Bank Ltd.
Mr. Bilal Ahmed(Director) Industrial Development Bank Of Pakistan
Mr. Tariq Mustafa Khan(Director) United Bank Ltd.
Mr. Nayyer Ahmed Jalali(Director) NIB Bank Ltd.

Leather jackets Numbers Indeterminable 120,000
672
Pakistan Hotels Developers Ltd.
Regent Plaza Hotel, 7th Floor, 195/2, Shahrah-e-Faisal, Karachi
Mr. S. Ferozuddin Baweja(Chairman / C.E.O.) Bank Al-Habib Ltd. M/s Haider Shamsi & Co.
Mr. Muzaffar F. Baweja(Managing Director) Natioanl Bank of Paksitan
Mr. Mansoor F. Baweja(Director) MCB Bank Ltd.
Mrs. Lubna Muzaffar(Director) Saudi Pak Commercial Bank Ltd.
Mrs. Muniza Zubair(Director) My Bank Ltd.
Mst. Shahida Begum(Director) Braclays Bank Ltd.
Mr. Zubair F. Baweja(Director) Faysal Bank Ltd.

No. of rooms Number 413 110
Pakistan Services Ltd.

3rd Floor, Saudi Pak Tower, 61/A, Jinnah Avenue, Islamabad.
Management Banker Audi

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BALANCE SHEET ANALYSIS

JOINT STOCK COMPANIES

LISTED ON THE KARACHI STOCK EXCHANGE

STATE BANK OF PAKISTAN

 Dr. Azizullah Khattak Director

 Dr. Ishaque Ahmed Ansari Additional Director

 Sajjad Hussain Senior Joint Director

 Shahid Latif Joint Director

 Muhammad Saeed Assistant Director

 Muhammad Arfan Dilber Assistant Director

Table: 1 Distribution of companies by economic groups.

Total: 451 443 436 437 437 414

The publication is based on the two sets of analysis:

(a) Overall summary:

(b) Company-wise analysis:

1. Ordinary Share Capital

6. Other Fixed Liabilities

7. Total Fixed Liabilities

8. Total Capital Employed

It is the sum of shareholder’s equity and total fixed liabilities.

c) Other Current Assets

The following items are taken as other current assets:

(a) Sundry Creditors

(i) Income tax payable

(b) Payment become due but outstanding

(i) Income tax payable

(i) Loans secured by stock or other current assets

10. Total Liabilities

11. Net Current Assets

12. Contractual Liabilities

13. Net Liquid Assets

This is the difference of liquid assets and the current liabilities.

1. Fixed Assets at Cost

(i) Freehold and leasehold land

(b)Plant, Machinery and Rolling Stock

2. Fixed Assets After Deducting Accumulated Depreciation

3. Depreciation for the year

Subtracting cost of sales from sales revenue arrives at gross profit.

3. Overhead and Other Expenses

7. Net Profit before Tax Provision

It is provision of taxation made on current year’s profit.

9. Total Amount of Dividend

10. Total Value of Bonus Shares Issued

E. Source of Increase in Capital Employed

1.Increase/ Decrease in Capital Employed

3. Finance from outside the company

1. Depreciation for the year plus Retention in Business

2. Depreciation for the year plus changes in Capital Employed

G. Operating Financial & Investment Ratios

3. Acid Tests or Quick Ratio

4. Debt Equity Ratio

6. Self -Financing Ratio

8. Shareholders’ Equity as % of Ordinary Share Capital

9. Overhead and Other Expenses as % of Gross Sales

10. Financial Expenses as % of Operating Profit

10. Financial Expenses as % of Gross Sales

11. Financial Expenses as % of Contractual Liabilities

It shows cost incurred (interest/mark up paid) on contractual liabilities.

13. Tax Provision as % of Net Pre-tax Profit

14. Sundry Debtors as % of Gross Sales

15. Net Profit as % of Shareholders’ Equity

1. Dividend Cover Ratio

The ratio of net profit after tax to total amount of dividend.