Balance Sheet

as at June 30, 2009

Note
ASSETS
Non-Current Assets
Property, plant and equipment
Intangibles
Long-term investments
Long-term loans, advances and receivables
Long-term deposits and prepayments
Deferred tax
Current Assets
Stores, spare parts and loose tools
Stock-in-trade
Trade debts
Loans and advances
Deposits and short term prepayments
Other receivables
Taxation - net
Cash and bank balances
Net Assets in Bangladesh
TOTAL

2009
2008
(Rupees
in '000)

3
4
5
6
7
8

6987025
68872
2153514
405780
83655
5033273
14732119

7460549
105502
2701097
477745
79098
407337
11231328

9
10
11
12
13
14

112143
40698209
80509830
418015
551803
12806779
709627 2883118
138689524
153421643

115814
62360067
33904728
396220
401433
15681790

15
16

3018640
115878692
127110020

EQUITY AND LIABILITIES

Equity
Share capital
Reserves

17
18

1715190
19155595
20870785

1715190
29249864
30965054

Non-Current Liabilities
Long term deposits
Retirement and other service benefits

19
20

854718
1673020
2527738

834598
1574148
2408746

21
22

110123702
688512
556380
18654526

81067565
726116
217928
10997908
726703
93736220
127110020

Current Liabilities
Trade and other payables
Provisions
Accrued interest / mark-up
Short term borrowings
Taxation - net
TOTAL
Contingencies and Commitments

23
-

130023120
153421643
24

2007

2006

7460549
105502
2701097
477745
79098
407337
11231328

7518956
154819
3278970
698146
74662
408296
12133849

115814
62360067
33904728
396220
401433
15681790

125030
28168633
11715868
275729
1287893
14562628

3018640
115878692

1898894
58034675

127110020

70168524

1715190
29249864
30965054

1715190
19097869
20813059

834598
1574148
2408746
81067565
726116
217928
10997908
726703
93736220
127110020

36814402
777276
120731
7648919
1695250
47056578
70168524

Profit and Loss Account

for the year ended June 30, 2009
Note
Net sales
Cost of products sold
Gross profit
Other operating income
Operating costs
Transportation costs
Distribution and marketing expenses
Administrative expenses
Depreciation
Amortisation
Other operating expenses
Other income
(Loss)/profit from operations
Finance costs
Share of profit of associates
(Loss)/profit before taxation
Taxation
(Loss)/profit for the year

2,009
2,008
(Rupees in '000)
612,695,589 495,278,533
25 -609,685,478 -465,254,907
3,010,111 30,023,626
26
1,451,666
1,396,527
27
28
29
3.1
4
30
31
32

33

(Loss)/earnings per share - basic and diluted

34

-513,673
-3,960,953
-1,151,793
-1,141,698
-52,615
-3,994,389
-10,815,121
776,686
-5,576,658
-6,232,056
-11,808,714
451,850
-11,356,864
4,658,329
-6,698,535
(Rupees)
-39

2,007

2,006

349,706,326 298,250,039
-337,446,896 -281,042,813
12,259,430 17,207,226
1,278,932
950,850

-337,886
-3,278,203
-1,147,137
-1,119,137
-47,689
-3,352,969
-9,283,021
313,860
22,450,992
-1,367,898
21,083,094
294,318
21,377,412
-7,323,617
14,053,795

-369328
-2745289
-1002712
-1098157
-41908
-755420
-6012814
424238
7949786
-1158112
6791674
330306
7121980
-2432182
4689798

-365,795
-2,492,633
-935,589
-1,082,394
0
-2,460,931
-7,337,342
442,791
11,263,525
-884,153
10,379,372
1,038,939
11,418,311
-3,893,610
7,524,701

82

27.34

43.87

2,005

VERTICAL ANALYSIS
Financial Analysis
BALANCE SHEET

Long Term Assets

Property, plant and equipment
Long term investments
Long term loans, advances and receivables
Long term deposits and prepayments
Deferred tax
Total Non-Current Assets
Current Assets
Other Current Assets
Stores, spares and loose tools
Stock-in-trade
Trade debts
Loans and advances
Deposits and short term prepayments
Other receivables
Taxation - net
Short Term Investments
Cash and bank balances
Total Current Assets
Net Assets in Bangladesh
Total Assets
EQUITY AND LIABILITIES
Share Capital
Reserves
Total Shareholders Equity
Long term deposits
Retirement and other service benets
Total Long term Liabilities
Trade and other payables
Provisions
Accrued interest / mark-up
Short term borrowings
Taxes payable
Total Current Liabilities
HORIZONTAL ANALYSIS
Property, plant and equipment
Total Non-Current Assets
Stock-in-trade
Trade debts

2009

2008

2007

2006

0.046
0.014
0.0026
0.0005
0.0328
0.096

0.0595
0.0213
0.0038
0.0006
0.0032
0.0884

0.1089
0.04
0.0084
0.0009
0.0054
0.1636

0.1094
0.0467
0.0099
0.0011
0.0058
0.1729

0.0007
0.2653
0.5248
0.0027
0.0036
0.0835
0.0046
0
0.0188
0.904

0.0009
0.4906
0.2667
0.0031
0.0032
0.1234
0
0
0.0237
0.9116

0.0017
0.3955
0.182
0.0049
0.0212
0.2108
0
0
0.0204
0.8364

0.0018
0.4014
0.167
0.0039
0.0184
0.2075
0
0
0.0271
0.8271

100.00% 100.00%

100.00%

100.00%

0.0112
0.1249
0.136
0.0056
0.0109
0.0165
0.7178
0.0045
0.0036
0.1216
0
0.8475
1

0.0135
0.2301
0.2436
0.0066
0.0124
0.019
0.6378
0.0057
0.0017
0.0865
0.0057
0.7374
1

0.0229
0.2572
0.2802
0.0103
0.022
0.0323
0.5544
0.0092
0.0018
0.1213
0.0009
0.6876
1

0.0244
0.2722
0.2966
0.0106
0.0222
0.0328
0.5247
0.0111
0.0017
0.109
0.0242
0.6706
1

1.1
1.49
4.9
9.98

1.18
1.14
7.5
4.2

1.26
1.24
3.56
1.69

1.19
1.23
3.39
1.45

Other receivables
Cash and bank balances
Total Current Assets
Total Assets
Share Capital
Reserves
Total Shareholders Equity
Total Long term Liabilities
Trade and other payables
Provisions
Total Current Liabilities
Total Equity & Liabilities

4.04
2.35
6.18
4.74
1
1.69
1.6
1.86
6.75
-

4.95
2.46
5.16
3.93
1
2.58
2.37
1.77
4.97
-

4.97
1.24
2.78
2.31
1
1.69
1.6
1.78
2.54
-

4.59
1.55
2.59
2.17
1
1.68
1.59
1.69
2.26
-

7.26
4.74

5.23
3.93

2.87
2.31

2.63
2.17

2009
1
0.1354
0.0128
0.8518
0.8476
0.0042

2008
1
0.1273
0.0235
0.8492
0.7977
0.0515

2007
1
0.1275
0.0217
0.8507
0.8209
0.0298

2006
1
0.1263
0.0276
0.8461
0.7973
0.0488

2005
1
0.1287
0.0339
0.8374
0.7832
0.0542

0.0007
0.0071
0.0017
0.0056
0.015
0.0109
0.0031
-0.0078
0.0087
0.0006
-0.0158
0.0065
-0.0093

0.0006
0.0076
0.002
0.0057
0.0159
-0.0356
0.0029
0.0385
0.0023
0.0005
0.0367
0.0126
0.0241

0.0009
0.0091
0.0028
0.0018
0.0146
-0.0152
0.0193
0.0193
0.0028
0.0008
0.0173
0.0059
0.0114

0.001
0.0097
0.0031
0.007
0.0208
-0.028
0.004
0.032
0.0025
0.0029
0.0324
0.011
0.0213

0.0012
0.0127
0.0039
0.0042
0.022
-0.0321
0.0055
0.0368
0.0015
0.0009
0.0362
0.0139
0.0223

Financial Analysis
PROFIT AND LOSS ACCOUNT
VERTICAL ANALYSIS
Sales
Sales Tax
IFEM/Levies
Net sales
Cost of products sold
Gross Prot
Operating Costs
Transportation
Administrative & Marketing Expenses
Depreciation
Other operating expenses
Total Operating Costs
Other Income / Other Operating income
(Loss) / Prot from Operations
Finance cost
Share of Prot of Associates
(Loss) / Prot before taxation
Taxation
Net (Loss) / Prot

2005

0.1578
0.0443
0.0147
0.002
0.0024
0.2213

0.0025
0.3935
0.1298
0.0041
0.0139
0.198
0
0.0002
0.0367
0.7787
100.00%

0.0328
0.3026
0.3354
0.0129
0.0253
0.0382
0.493
0.0144
0.0012
0.092
0.0257
0.6264
1
1.28
1.17
2.48
0.84

3.27
1.56
1.81
1.62
1
1.39
1.34
1.47
1.58
1.83
1.62

HORIZONTAL ANALYSIS
Financial Analysis
PROFIT AND LOSS ACCOUNT

Sales
Sales Tax
IFEM/Levies
Net sales
Cost of products sold
Gross Prot
Operating Costs
Transportation
Administrative & Marketing expenses
Depreciation
Other operating expenses
Total Operating Costs
Other Income / Other Operating Income
(Loss) / Prot from operations
Finance cost
Share of Prot of Associates
(Loss) / Prot before taxation
Taxation
Net (Loss) / Prot
SUMMARY OF CASH FLOW STATEMENT
Cash inflow from operating activities
Net cash (outflow) from investing activities
Net cash (outflow) from financing activities
Cash & cash equivalents at end of the year

2009
3.49
3.59
1.35
3.14
3.55
3.73
0.34

2008
2.83
2.74
2
2.59
2.87
2.85
3.35

2007
1.99
1.93
1.31
1.81
2.03
2.06
1.37

2006
1.71
1.64
1.42
1.6
1.73
1.72
1.92

2005
1.23
1.21
1.26
1.22
1.23
1.22
1.54

3.7
2.58
1.9
7.74
3.93
-1.26
7.98
-0.86
22.68
-1.9
2.04
-1.83
-2.14
-1.66

2.43
2.23
1.85
6.5
3.38
3.34
6.13
3.46
4.98
3.4
1.33
3.44
3.36
3.49

2.66
1.89
1.81
1.46
2.19
1.01
6.1
1.23
4.21
1.09
1.49
1.15
1.12
1.16

2.63
1.73
1.72
4.77
2.67
1.59
4.99
1.74
3.22
1.67
4.68
1.84
1.79
1.87

2.25
1.62
1.56
2.09
2.03
1.31
4.25
1.44
1.35
1.44
1
1.48
1.62
1.4

-4828554 4116415 3715768

-2889 -172926 -707953
511790 -9716130 -1589821
-1.2E+07 -7190672 -1418031

1702598 5307821
-173687 -1219568
4035619 -3087422
2836025 -191669

PSO at a Glance
2009
13

Sales Volume (MillionTons)

Profit & Loss Account
Sales Revenue
719282
Net Revenue
612696
Gross Profit
3010
Operating (Loss) / Profit
(5577)
Marketing & Administrative Expenses
5113
(Loss) / Profit before Tax
(11357)
(Loss) / Profit after Tax
(6699)
(Loss) / Earning before Interest, taxes, depreciation & Amortization (EBITDA)
(3983)
Capital expenditure
694

Balance Sheet
Share Capital
Reserves
Shareholders' Equity
Property Plant & Equipment
Net current assets
Long Term Liabilities
Profitabiltiy Ratios
Gross Profit ratio
Net Profit ratio
EBITDA margin
Return on Shareholders' Equity
Return on total assets
Return on capital employed

1715
19156
20871
7056
8666
2528

0
(0)
(0)
(0)
(0)
0

Asset utilisation
Inventory turnover ratio
Debtor turnover ratio
Creditor turnover ratio
Total asset turnover ratio
Fixed asset turnover ratio

(x) 13.96
(x) 12.57
(x) 6.32
(x) 5.13
(x) 98.38

Investment
(Loss) / Earnings per share
Market value per share (Year End)
Highest Price
Lowest Price
Break-up value

Rs. (39.05)
Rs. 213.65
Rs. 428.79
Rs. 96.00
Rs. 121.34

Rupees in Million (Unless Noted)

2008
2007
2006
13
12
10
583214
495279
30024
22451
4425
21377
14054
23912
620

411058
349706
12259
7950
3748
7122
4690
9420
1609

352515
298250
17207
11264
3428
11418
7525
13385
751

1715
29250
30965
7567
22143
2409

1715
19224
20939
8138
11128
2412

1715
19098
20813
7674
10978
2299

5
2
4
45
11
68

3
1
2
22
6
35

5
2
4
36
11
54

10
25
10
6
74

12
33
11
6
52

12
38
13
6
44

82
417
540
318
180

27
392
418
281
122

44
309
452
265
121

Price earning ratio (P/E)

Dividend per share
Dividend payout
Dividend yield
Dividend cover ratio
Leverage
Debt : Equity ratio
Interest Cover ratio
Current Ratio
Quick Ratio
Contribution
Employees as remuneration
Government as taxes
Shareholders as dividends
Retained within the business
Financial charges to providers of finance

(x) (5.47)
Rs. 5.00
% N/A
0
(x) N/A
(x) N/A

5
24
29
6
4
-

1
(x) 0.75

2872
161388
858
6232

14
21
77
5
1
-

7
34
78
11
1
-

16
1
1

7
1
1

13
1
1

2438
85208
4031
10000
1368

2006
68096
3602
1100
1158

1857
58822
5831
1900
884

nless Noted)
2005
10
253777
212504
13746
9340
3219
9191
5656
10546
1506

1715
15830
17545
8256
7970
1999

5
2
4
32
11
49

11
40
14
5
32

33
386
490
239
102

12
26
79
7
1
25
1
1

1870
38823
4459
1230
371