Professional Documents
Culture Documents
as at June 30,2009
Notes
NON- CURRENT ASSETS
Property plant and equipment
intangibal assets
investment in associate
long term deposits
CURRENT ASSETS
Stores, spare parts and loose tools
stock in trade
trade debts
loans and advances
prepayments
other recievables
cash and bank balnaces
CURRENT LIABILITIES
trade and other payables
Markup/interest payable
short term bank borrowings
current portion of :
Long term financing
Long term murabaha
Provision for texation-income tax
Working capital
Total capital employeed
NON- CURRENT LIABILITIES
Long term financing
Long term murabaha
Deffered liabilities:
Deffered taxation
Staff retirement gratuity
CONTENGENCES AND COMMITMENTS
Net Worth
Represented by:
SHARE CAPITAL AND RESERVES
Share capital
capital reserves
Revenue reserves
2009
Rupees
2008
Rupees
2007
Rupees
3
4
5
7817013285
14005376
13572873559
3735923
21407628143
7501107266
14558117
9326015595
3485600
16845166578
7494543268
17763548
8535576315
3270100
16051153231
6
7
8
9
696901126
2909687606
162983366
692073405
6835414
433033358
169514922
5071029197
739326932
4173311287
129138714
911417993
4838149
808832524
244559829
7011425428
492927990
2495261283
119187620
675992269
5763626
530018970
297479839
4616631597
2765133372
253542922
1497561488
3310171136
151581167
2302165939
1962366263
194407205
1800909997
14
15
1481916666
300000000
94430371
6392584819
1321555622
20086072521
1240250000
300000000
267323789
7571492031
560066603
16285099975
977750000
300000000
132484377
5367917842
751286245
15299866986
14
15
6011208334
150000000
3343125000
450000000
3933375000
750000000
16
17
1741441544
312579574
8215229452
11870843069
1535453137
252263753
5580841890
10704258085
1272554972
228174174
6184104146
9115762840
3105069950
1150373350
7615399769
11870843069
3105069950
1143406450
6455781685
10704258085
3105069950
1137615450
4873077440
9115762840
10
11
12
13
18
19
20
21
21407628143
5071029197
26478657340
16845166578
7011425428
23856592006
50335249346
/2
25167624673
16051153231
4616631597
20667784828
44524376834
/2
22262188417
Note
2009
Rupees
2008
Rupees
2007
Rupees
Sales- net
Cost of Goods sold
Gross Profit
22
23
22059606789
19748550789
2311056000
21549911937
19363204183
2186707754
16322916242
14692404768
1630511474
24
25
26
27
28
29
30
126674952
423594936
24977054
1387287978
1962534920
348521080
77089140
425610220
1500542000
1926152220
300773643
1625378577
5.23
144357038
350467938
58775438
870922610
1424523024
762184730
56012842
818197572
1291307000
2109504572
526800327
1582704245
5.1
115794913
294520539
35351327
925670501
1371337280
259174194
29309620
288483814
1480152000
1768635814
253669148
1514966666
4.88
page # 30
723283512
743027491
767223034
126674952
423594936
24977054
575246942
2311056000
1735809058
144357038
350467938
58775438
553600414
2186707754
1633107340
Depriciation
EBIT
Dividends
1.12
Page #25 520,022,641.35
No. of shares
Dividend per share
Page #40
310506995
1.50
465760493
310506995
Balance sheet
NON- CURRENT ASSETS
Property plant and equipment
intangibal assets
investment in associate
long term deposits
CURRENT ASSETS
Stores, spare parts and tools
stock in trade
trade debts
loans and advances
prepayments
other recievables
cash and bank balnaces
Total Assets
CURRENT LIABILITIES
trade and other payables
Markup/interest payable
short term bank borrowings
current portion of :
Long term financing
Long term murabaha
Provision for texation-income tax
Working capital
Total capital employeed
NON- CURRENT LIABILITIES
Long term financing
Long term murabaha
Deffered liabilities:
Deffered taxation
Staff retirement gratuity
Total Liabilities
CONTENGENCES AND
COMMITMENTS
Net Worth
Represented by:
SHARE CAPITAL AND
RESERVES
Share capital
capital reserves
Revenue reserves
as at June 30,2009
2010
Rupees
2009
Rupees
2008
Rupees
2007
Rupees
###
14005376
13572873559
3735923
###
7817013285
14005376
13572873559
3735923
21407628143
7501107266
14558117
9326015595
3485600
16845166578
7494543268
17763548
8535576315
3270100
16051153231
###
###
###
###
7584500.67
###
188091904.9
###
###
696901126
739326932
492927990
2909687606
4173311287
2495261283
162983366
129138714
119187620
692073405
911417993
675992269
6835414
4838149
5763626
433033358
808832524
530018970
169514922
244559829
297479839
5071029197
7011425428
4616631597
26478657340###
###
###23856592006###
###
###20667784828
###
###
1497561488
2765133372
253542922
1497561488
3310171136
151581167
2302165939
1962366263
194407205
1800909997
###
300000000
###
###
###
###
1481916666
300000000
94430371
6392584819
1321555622
20086072521
1240250000
300000000
267323789
7571492031
560066603
16285099975
977750000
300000000
132484377
5367917842
751286245
15299866986
6011208334
150000000
6011208334
150000000
3343125000
450000000
3933375000
750000000
1741441544
312579574
8215229452
###
1741441544
312579574
8215229452
14607814271
1535453137
252263753
5580841890
13152333921
1272554972
228174174
6184104146
11552021988
###
11870843069
10704258085
9115762840
3105069950
1150373350
###
###
3105069950
1150373350
7615399769
11870843069
3105069950
1143406450
6455781685
10704258085
3105069950
1137615450
4873077440
9115762840
###
###
26478657340
23856592006
20667784828
22
23
24
25
26
27
28
29
30
1.50
1.66
2010
Rupees
2009
Rupees
### 22059606789
### 19748550789
###
2311056000
###
###
27714266.16
###
###
330653586
85537267
###
1500542000
###
###
###
126674952
423594936
24977054
1387287978
1962534920
348521080
77089140
425610220
1500542000
1926152220
300773643
1625378577
###
729073601.8
4.01
465760493
1159618084
5.23
2008
Rupees
2007
Rupees
21549911937
19363204183
2186707754
16322916242
14692404768
1630511474
144357038
350467938
58775438
870922610
1424523024
762184730
56012842
818197572
1291307000
2109504572
526800327
1582704245
115794913
294520539
35351327
925670501
1371337280
259174194
29309620
288483814
1480152000
1768635814
253669148
1514966666
5.1
4.88
Ratio's
Liquidity ratio
Ratio's
2009
2008
0.79
0.93
0.34
0.37
2009
2008
6.23
6.46
7.17
13.70
1.15
1.31
0.83
0.90
Current Ratio=
Quick Ratio=
Debt ratio
2009
2008
Debt Ratio=
0.45
0.45
1.25
1.88
2009
2008
6.90
7.34
Profitability ratio
0.06
0.07
0.06
0.07
0.14
0.15
0.07
0.07
5.23
5.10
2008
7.10
7.28
0.96
1.06
38.23
34.47
2009
2008
0.04
0.32
0.29
0.68
0.71
Leaverages
% change in EBIT
Degree of Operating Leverage=
% change in Sales
(3.67)
% change in EPS
Degree of Financial leverage= % change in EBIT
(0.31)
DOL * DFL
1.14
change in EBIT
change in sales
(0.09)
0.02
DOL
(3.67)
0.03
(0.09)
DFL
(0.31)
Breakeven
Formula
2010
###
FC/(P-V)
Depriciation
page # 30
Years
2010
Change in NWC
2009
2008
###
-1321555622
-560066603
52165040.86
-761489019
191219642
2007
-751286245
CAPM
Year
NI
Depriciation
OCF
Change in NWC
2282189700
2325731736
2348662089
191219642
-761489019
WIP
6194081278.75
DEBT/ EQUITY
Kdt
Estimated Beta
Ks
WACC
0%
10%
20%
30%
40%
50%
60%
0.00
0.11
0.25
0.43
0.67
1.00
1.50
0.04
0.04
0.04
0.04
0.01
0.06
0.08
0.0282
0.0303
0.0328
0.0361
0.0405
0.0466
0.0557
0.1218
0.1219
0.1221
0.1224
0.1227
0.1232
0.1240
0.122
0.114
0.106
0.099
0.076
0.093
0.098
WACC
Formula:
WdKdtWsKs
Wd=
55%
Kd=
12%
Tax rate=
WACC=
35%
Kdt=
kd(1-T)
Ws=
Ks=
WdKdt+WsKs
8%
45%
12.36%
9.73%
0.35
CAPM
YEAR
2009
2009
2009
2009
2009
2009
2009
2009
2009
2009
2009
2009
2008
2008
2008
2008
2008
2008
2008
2008
2008
2008
2008
2008
2007
2007
MONTH
January
February
March
April
May
June
July
August
September
October
November
December
January
February
March
April
May
June
July
August
September
October
November
December
January
February
Calculation of Beta ()
Coverience =
Standered Deviation=
Varience=
Beta ()=
Unleavered beta()
T-Bill rate
Market Risk Primium
STOCK PRICE
31.29
21.39
23.21
26.05
27.26
29.81
27.04
35.15
35
31
35.2
36.62
56
54.5
65.35
60.2
45.99
52.5
47
42
39.89
36.48
36
35
INDEX
4016.84
4221.57
4931.51
5168.77
5216.66
5121.73
5515.95
6154.81
6651.16
6513.12
6529.44
6665.55
9935.08
10635.69
10750.22
10777.4
8699.61
8834.24
7636.25
6655.99
6640.66
4400.76
7521.22
7457.45
2,182.19
207.26
42,956.70
0.05
total debt / equity=
0.03
11.95%
0.12
8%
0.08
12.36%
208600
41696
Avg INDEX
401.68
422.16
493.15
516.88
521.67
512.17
551.6
615.48
665.12
651.31
652.94
666.56
993.51
1063.57
1075.02
1077.74
869.96
883.42
763.63
665.6
664.07
440.08
752.12
745.75
1.23
227324
0.91
250296
Growth Rate
2009
2008
ROA*b/1-ROA*b
4%
5%
ROE*b/1-ROE*b
0.10
0.12
G=
0.11
11%
Yeild
Yeild=
Dividend yeild=
Capital Gain yeild=
0.04
Current price (P1) - Previous price (Po) / Previous price (Po)
36.48
36.62
0.004
yeild=
4%
Operating cycle
Inventory Turnover =Cost of good sold/Average inventory
5.58
Inventory period
65.46
35.53
Receiable period
10.27
Operating Cycle
Cash cycle
2/10 n/30
2/3.42 n/10.27
365/6.85
3.42
129.11
2.83
75.73
72.90
6.85
53.29
2.04%
1.09
2009
Creditors
2008
187092062 118823153
Liquidity Ratio
1.00
0.90
0.80
0.93
Column C
0.79
Column D
0.70
0.60
0.50
0.40
0.37
0.34
0.30
0.20
0.10
0.00
1
years
6.00
4.00
2.00
0.00
1
years
Debt Ratio
2.00
1.80
1.60
1.40
1.20
1.00
0.80
0.60
0.40
Column C
Column D
2.00
1.80
1.60
1.40
1.20
1.00
0.80
0.60
0.40
0.20
0.00
Column C
Column D
years
Profitability Ratio
Row
Row
Row
Row
Row
Row
Row
Row
Row
Row
Row
Row
Row
37
38
39
40
41
42
43
44
45
46
47
48
49
40.00
35.00
30.00
Row
Row
Row
Row
Row
25.00
20.00
15.00
10.00
5.00
0.00
1
2
years
54
55
56
57
58
Row 57
Row 58
15.00
10.00
5.00
0.00
1
2
years
Dividend ratio
0.80
0.70
0.60
0.50
Column C
Column D
0.40
0.30
0.20
0.10
0.00
1
3
year
Ibrahim
IBFL
799
380
38.25
38.25
Fibres
Open Rate:
Bid Price:
Ask Price:
Low Rate:
Turnover:
Percent
1.13 Change:
Market
310506995 Capitalization:
Symbol:
For:
SYMBOL
IBFL
37.12
37.05
38.49
37.25
9574
3.04
11876892558.
75
Ibrahim Fibres
January 05, 2010
OPEN RATE HIGH RATE LOW RATE
36.47
37.39
36.5
CLOSING
RATE
37.12
TURN
OVER
5,327
TURN
OVER
500
500