09 Vs

(Rs. ‘000) 2004 2005 2006 2007 2008 2009 2004 05 Vs 04 06 Vs 05 07 Vs 06 08 Vs 07 08

Non Current Assets

Property Plant & Equipment 3,564,407 3,798,190 4,529,366 5,154,326 5,599,758 5,952,108 50.74 47.67 51.86 52.45 53.87 48.68

Investment in Subsidiary Company 5,000 5,000 5,000 5,000 5,000 5,000 0.07 0.06 0.06 0.05 0.05 0.04

Long Term Loans 16,324 17,782 18,660 12,513 9,244 7,310 0.23 0.22 0.21 0.13 0.09 0.06

Long Term Deposits and Prepayments 4,433 11,365 8,424 13,025 41,172 19,915 0.06 0.14 0.10 0.13 0.40 0.16

Current Assets
Stock–in–trade 3,074,052 3,780,931 3,790,853 3,998,181 4,059,063 5,765,367 43.76 47.45 43.40 40.69 39.05 47.15

Stores and spares 121,464 125,232 140,008 140,777 190,646 218,375 1.73 1.57 1.60 1.43 1.83 1.79

Trade debts 12,486 2,894 2,406 2,386 2,666 1,684 0.18 0.04 0.03 0.02 0.03 0.01

Loans and advances 32,273 32,676 12,205 38,580 65,917 48,598 0.46 0.41 0.14 0.39 0.63 0.40

Short term prepayments 36,003 31,987 72,235 64,887 105,728 72,483 0.51 0.40 0.83 0.66 1.02 0.59

Other receivables 119,126 104,791 92,360 229,891 246,675 88,147 1.70 1.32 1.06 2.34 2.37 0.72

Cash and bank balances 39,197 57,605 62,883 166,666 69,172 47,874 0.56 0.72 0.72 1.70 0.67 0.39

3,434,601 4,136,116 4,172,950 4,641,368 4,739,867 6,242,528 48.89 51.91 47.78 47.23 45.60 51.06

7,024,765 7,968,453 8,734,400 9,826,232 10,395,041 12,226,861 100 100 100 100 100 100

Share Capital & Reserves

Share Capital 2,554,938 2,554,938 2,554,938 2,554,938 2,554,938 2,554,938 36.37 32.06 29.25 26.00 24.58 20.90

Revenue Reserves 707,885 1,084,476 1,584,249 1,149,742 1,053,393 1,705,296 10.08 13.61 18.14 11.70 10.13 13.95

Non Current Liabilities

Retirement Benefits – – – 489,503 739,133 – – – – 4.98 7.11 0.00
Deferred Taxation 624,475 724,673 845,004 809,109 836,939 1,109,847 8.89 9.09 9.67 8.23 8.05 9.08

Current Liabilities
Trade and other payables 2,056,298 2,515,824 2,212,241 3,548,237 4,324,704 5,037,469 29.27 31.57 25.33 36.11 41.60 41.20

Accrued interest / mark–up 5,041 10,911 11,115 8,401 10,354 27,659 0.07 0.14 0.13 0.09 0.10 0.23

Short term running finance 996,579 400,662 1,293,141 1,038,550 572,397 1,300,837 14.19 5.03 14.81 10.57 5.51 10.64

Income tax liability 79,549 676,969 233,712 227,752 303,183 490,815 1.13 8.50 2.68 2.32 2.92 4.01

3,137,467 3,604,366 3,750,209 4,822,940 5,210,638 6,856,780 44.66 45.23 42.94 49.08 50.13 56.08

7,024,765 7,968,453 8,734,400 9,826,232 10,395,041 12,226,861 100 100 100 100 100 100

Profit and Loss Account

Net turnover 9,572,576 11,753,180 13,890,994 16,042,877 18,872,495 21,666,525 100 100 100 100 100 100

Cost of sales 6,089,955 7,223,576 8,357,474 9,527,306 11,595,736 13,442,066 63.62 61.46 60.16 59.39 61.44 62.04

Gross Profit 3,482,621 4,529,604 5,533,520 6,515,571 7,276,759 8,224,459 36.38 38.54 39.84 40.61 38.56 37.96

Selling and distribution expenses 1,442,356 1,578,656 1,816,198 1,795,793 1,933,364 2,246,014 15.07 13.43 13.07 11.19 10.24 10.37

Administrative expenses 595,637 573,285 644,981 736,147 928,358 1,100,814 6.22 4.88 4.64 4.59 4.92 5.08

Other operating income 14,590 8,100 20,686 71,756 60,551 226,499 0.15 0.07 0.15 0.45 0.32 1.05

Other operating expenses 381,914 304,462 251,932 335,763 615,458 514,665 3.99 2.59 1.81 2.09 3.26 2.38

Operating profit 1,077,304 2,081,301 2,841,095 3,719,624 3,860,130 4,589,465 11.25 17.71 20.45 23.19 20.45 21.18

Finance income – 26317 47,402 30,878 59,600 102,826 0.00 0.22 0.34 0.19 0.32 0.47

Finance cost 21,265 25,554 27,824 25,928 26,013 43,802 0.22 0.22 0.20 0.16 0.14 0.20

Profit before income tax 1,056,039 2,082,064 2,860,673 3,724,574 3,893,717 4,648,489 11.03 17.71 20.59 23.22 20.63 21.45

Income tax expense 390,812 760,145 955,685 1,304,367 1,361,422 1,626,083 4.08 6.47 6.88 8.13 7.21 7.51

Profit for the year 665,227 1,321,919 1,904,988 2,420,207 2,532,295 3,022,406 6.95 11.25 13.71 15.09 13.42 13.95
Vertical Analysis

Balance Sheet

Sheet1
Pakistan Tobacco Company Limited

17