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Index

Balance sheet
Profit & loss account
Cash flow stat.
Changes in equity
Note 5
Note 6
Note 7
Note 8
Note 9
Note 10
Note 11
Note 12
Note 13
Note 14
Note 15
Note 16
Note 17
Note 18
Note 19
Note 20
Note 21
Note 22
Note 23
Note 24
Note 25
Note 26
Note 27
Note 28
Note 29
Note 30
Note 31
Note 32
Note 33
Note 34
Note 35

Common size I/S


Common size B/S
Activity Ratio
Liquidity Ratio
Sol.Ratio
Profitability
Forecast Working
Forecasted Balance Sheet
Forecasted I/S
Regression
Beta
Forecasted Dividend

LUCKY CEMENT LTD


Balance Sheet
2011
2010
(Rupees in '000')
Assets
Non-Current Assets
Fixed assets
Property, plant,and equipment
Intangible assets
Long term advance
Long term deposit
Current Assets
Store and spares
Stoke-in-trade
Trade debets-considered good
Loan and advances
Trade deposit and
Short term prepayments
Other receivables
Tax refunds due from Govt.
Taxation-net
Sales tax refundable
Cash and bank balance
Total Assets
Equity and Liabilities
Share Capital and Reserves
Share capital
Reserves
Non-Current Liabilities
Long term finance
Long term deposits
Deferred liability
Deferred tax liability

Current Liabilities
Trade and other payables
Accrued mark-up

31705156
1685
31706841
55373
3175
31765389

31378255
2977
31381232
55373
2175
31438780

6313584
1248538
620961
72164

4008288
608813
779305
86471

38669

48807

218884
538812
41652
351202
9444466
41209855

204249
538812
145151
117939
333629
6871464
38310244

3233750
24539079
27772829

3233750
21862179
25095929

658298
37306
391837
1652796
2740237

1658600
31957
319217
1562850
3572624

4043689
85448

3043320
155500

Short term borrowing


Current portion and
long term finances
Contingencies and Commitment
Total Equity and Liabilities

6302252

6267112

265400

175759

10696789

9641691

41209855

38310244

index

Note
5
6
7

8
9
10
11
12
13
14

15

16
17

18
19
20
21

22
23

24
18

25

Gross sales
Less:
Sales tax and excise duty
Rebates and commission
Net sales
Cost of sales
Gross profit

LUCKY CEMENT LIMITED


Profit and Loss Account
2011
2010
(Rupees in '000')
31767053
29052901
5545549
4226459
203985
317649
5749534
4544108
26017519
24508793
-17306400
-16529932
8711119
7978861

Distribution cost
Administrative expenses
Finance cost
Other charges
Other income
Profit before taxation
Taxation
current
deferred
Profit after taxation
Other comprehensive income
Total comprehensive income for the year
Earning per share - basic and diluted

-3236425
-313389
-517788
-325482
2486
4320521

-3433047
-303244
-569184
-257774
1902
3417514

-260175
-89946
-350121
3970400

-195697
-84360
-280057
3137457

3970400

3137457

12.28

9.70

index

Note
26

27

28
29
30
31
32

33

34

LUCKY CEMENT LTD


Cash Flow Statement
2011
2010
(Rupees in '000')
Cash Flow Operating Activities
Cash flow generated from operations
Finance cost paid
Income tax paid
Gratuity paid
Long term deposit
Net cash flow from operating activities
Cash Flows From Investing Activities
Fixed capital expenditure
Sale proceeds on disposal of
property, plant and equipment
Net cash used in investing activities
Cash Flows From Financing Activities
Repayment of long term finance
Receipt of short term borrowings
Dividends paid
Net cash used in financing activities
Net increase/(decrease) in cash & cash equivalents
Cash & cash equivalents at the beginning of the year
Cash & cash equivalents at the end of the year

4842927
-587841
-156677
-29176
-773694
4349
4073582

6087267
-647065
-164264
-12300
-823629
3368
5267006

-1905143

-2320832

9711

5879

-1895432

-2314953

-910661
35140
-1285056
-2160577

-2465641
217372
-1281045
-3529314

17573
333629
351202

-577261
910890
333629

index

Note
35

index

LUCKY CEMENT LTD


Statement of Charges in Equity
Capital
Issued,
reserve
subscribed &
paid up
Share
capital
premium

Balance as at June 30, 2009


Transfer to general reserve
Final dividend at the rate of Rs 4/- per
share for the year ended June 30, 2009
Total comprehensive income for the year
Balance as at June 30, 2010
Transfer to general reserve
Final dividend at the rate of Rs 4/- per
share for the year ended June 30, 2010
Total comprehensive income for the year
Balance as at June 30, 2011

3233750

7343422

Revenue reserves
General
Reserve
Rupees in '000'
5000000
5000000

3233750 7343422 10000000


2500000

3233750 7343422 12500000

harges in Equity
Revenue reserves
Unappropriated
profit

Total
reserves

Total
equity

Rupees in '000'
7674800 20018222 23251972
-5000000
-1293500 -1293500 -1293500
3137457 3137457 3137457
4518757 2E+007 3E+007
-2500000
-1293500 -1293500 -1293500
3970400 3970400 3970400
4695657 2E+007 3E+007

2011
2010
(Rupees in '000')
Property, Plant and Equipme
Operating assets - tangible
Capital work-in-progress

30565211
1139945
31705156

29465134
1913121
31378255

index

2011
2010
(Rupees in '000')
Stores and Spares
Stores
Spares
Less: Provision for slow moving spares

4188478
2225765
6414243
100659
6313584

1912626
2171672
4084298
76010
4008288

index

2011
2010
(Rupees in '000')
Stock-in-Trade
Raw and packing materials
Work-in-process
Finished goods

539202
484692
224644
1248538

315374
100813
192626
608813

index

2011
2010
(Rupees in '000')
Trade Debts - considered goo
Bills receivable - secured
Others - unsecured

406966
213995
620961

619776
159529
779305

index

2011
2010
(Rupees in '000')
Loans And Advance
Considered good, secured
Loans And Advances due from:
Employees
Executives
Advances to suppliers and others

5516
5946
11462
60702
72164

5632
3123
8755
77716
86471

inedx

2011
2010
(Rupees in '000')
Trade Deposits and Short Term Paymen
Deposits
Coal supplier
Utilities
Karachi Port Trust
Containers
Other
Prepayments
Insurance
L/c Margin
Rent
Others

1000
730
5740
60
4908
12438
11785
2187
12259
26231
38669

1000
159
3990
4071
9220
16349
3454
1717
18067
39587
48807

index

2011
2010
(Rupees in '000')
Other Receivables - unsecured, considered good
Inland freight subsidry - export
Rebate on export sales
Due from Collector of Customs
Other

135790
45576
19444
18074
218884

135790
37865
19444
11150
204249

index

2011
2010
(Rupees in '000')
Cash and Bank Balances
Cash in hand
Slaes collection in transit
Cash at bank - on current accounts
- on deosit accounts

1330
247146

1031
263940

38869
63857
102726
351202

22286
46372
68658
333629

index

2011
2010
(Rupees in '000')
Share Capital
Authorized Capital
500000000 (2010: 500000000) ordinary
5000000
share of Rs 10/- each
Issued, Subscribed and Paid-up Capital
305000000 (2010: 305000000) ordinary shares 3050000
of Rs 10/- each issued for cash
18375000 (2010: 18375000) ordinary shares
183750
of Rs 10/- each issued as bonus share
3233750

5000000
3050000
183750
3233750

index

2011
2010
(Rupees in '000')
Reserves
Capital reserve
Share premium
Revenue reserves
General reserve
Unappropriated profit

7343422

7343422

12500000
4695657
17195657
2E+007

10000000
4518757
14518757
2E+007

inedx

Long Term Finance - secured


Long term finance utilized under mark-up arrangement from the following banks:
Installments
2011
Number
From
(Rupees in '000')
Allied Bank Ltd
16 quarterly
Oct-10
597620
Allied Bank Ltd
16 quarterly
Mar-11
326078
923698
Less: Current portion of long term finance
-265400
658298

2010
ees in '000')
1135620
698739
1834359
-175759
1658600

index

2011
2010
(Rupees in '000')
Long Term Deposits
Cement stockists
Transporters
Others

11976
24000
1330
37306

9727
21900
330
31957

index

2011
2010
(Rupees in '000')
Deferred Liability
Staff gratuity

391837

319217

Present value of defined benefit obligation

391837

319217

319217
101796
421013
-29176
391837

234633
96884
331517
-12300
319217

57049
42649
2098
101796

51754
30502
14628
96884

78951
3862
18983
101796

67155
3884
25845
96884

Movement oin the liability recognized in


the balance sheet are as follows:
Opening balance
Net charge for the year
Payments made during the year
Closing balance
The amoutn recognized in the profit and
loss account is as follows:
Current service cost
Interest cost
Actuarial (gains)/losses recognized
The charges for the year has
been allocated as follows:
Cost of sales
Distribution cost
Administrative expenses

index

2011
2010
(Rupees in '000')
Deferred Tax Liability
This comprises of the following
Deferred tax liabilit
-Difference in tax and accounting
bases of fixed assets
Deferred tax assets
-Unabsorbed tax losses
-Provisions

3280809

3351606

-1495783
-132230
-1628013
1652796

-1693176
-95850
-1789026
1562580

index

2011
2010
(Rupees in '000')
Trade and Other Payables
Creditors
Bills payable
Accrued liabilities
Advance from customers
Retention money
Sales tax payables
Other charges payables
Unclaimed and unpaid dividend
Excise duty payable
Others

1189188
494999
744209
659047
121199
61470
512491
34521
215967
10598
4043689

920236
254170
617667
281052
373789
342074
26077
228201
54
3043320

index

2011
2010
(Rupees in '000')
Accrued Mark-Up
Long term finance
Short term borrowings

18403
67045
85448

49740
105760
155500

index

2011
2010
(Rupees in '000')
Short Term Borrowing
Export refinance
Foreign currency import finance

350000
5952252
6302252

4732366
1534746
6267112

index

2011
2010
(Rupees in '000')
Commitments
Capital commitments
Plant and machinery
Other commitments
Stores, spares and apcking
material under letters of credit

1364705

1960445

Bank guarantees issued on


behalf of the company

638629

672940

304738

163325

index

2011
2010
(Rupees in '000')
Sales - gross
Sales - local
- export

20130785
11636268
3E+007

14191487
14861414
3E+007

index

2011
2010
(Rupees in '000')
Cost of Sales
Salaries, wages and benefits
Raw material consumed
Packing material
Fuel and power
Store and spares consumed
Repairs and maintenance
Depreciation
Insurance
Provision for slow moving spares
Earth moving machinery
Vehicle running & maintenance
Communication
Mess:subsidry
Transportation
Traveling and conveyance
Inspection fee for electrical installation
Rent, rates and taxes
Printing and stationery
Other manufacturing expenses
Work-in-process:
Opening
Closing
Cost of good manufactured
Finished goods:
Opening
Closing

957453
999735
1857967
10949832
1054096
86507
1488133
73165
24649
122346
31748
10406
20649
4217
4692
1049
1708
2659
31286
2E+007

881365
959358
1472287
10131354
731240
53675
1327229
170692
25384
105212
28380
9413
16371
10459
3740
1049
1404
1424
40931
2E+007

100813
-484692
-383879
2E+007

591659
-100813
490846
2E+007

192626
-224644
-32018
2E+007

260745
-192626
68119
2E+007

index

2011
2010
(Rupees in '000')
Distribution Cost
Salaries and benefits
Logistic and related charges
Loading and others
Communication
Travelling and conveyance
Printing and stationery
Insurance
Rent, rates and taxes
Utilities
Vehicles running & maintenance
Repairs and maintenance
Fees, subscription and periodicals
Advertisment and sales promotion
Entertainment
Depreciation
Others

47302
3024099
43216
3377
2018
855
7480
7394
1565
8655
1715
563
11262
727
72068
4129
3236425

42490
3233415
28472
3499
2518
812
10897
6537
1298
7002
8597
606
9713
580
73570
3041
3433047

index

2011
2010
(Rupees in '000')
Administrative Expenses
Salaries and benefits
Communication
Travelling and conveyance
Insurance
Rent, rates and taxes
Vehicals running and maintenance
Printing and stationery
Fees and subscription
Security services
Legal and professional
Transportation and freight
Utilities
Repairs and maintenance
Advertisment
Donations
Auditor's remuneration
Other auditor's remuneration
Depreciation
Amortization
Others

124224
6626
14153
1050
2777
11109
4599
6309
2423
15097
67
4603
6722
1741
89822
1483
6103
10344
1491
2646
313389

110914
6503
9353
1268
2298
10034
6731
7102
1708
8638
329
5542
6870
1238
104046
1481
5279
10197
1466
2247
303244

index

2011
2010
(Rupees in '000')
Finance Cost
Mark-up on long term finance - net
Mark-up on short term borrowings
Interest on Worker's Profit
Participation Fund
Bank charges and commission

45984
447181

21280
510121

3735

7196

20888
517788

30587
569184

index

2011
2010
(Rupees in '000')
Other Charges
Worker's Profits Participation Fund
Others

232487
92995
325482

184124
73650
257774

index

2011
2010
(Rupees in '000')
Other Income
Income from non-financial assets
Gain on disposal of fixed assets
Others

2211
275
2486

1869
33
1902

index

Earing Per Share - Basic and diluted


Profit after tax (Rupees in '000')
Weighted average number of
ordinary shares (in thousands)
Earing per share - (rupees)

2011

2010

3970400

3137457

323375

323375

12.28

9.70

index

2011
2010
(Rupees in '000')
Cash Generated From Operations
Profit before taxation
Adjustments for non cash charges & other items
Depreciation
Gain on disposal of property, plant & equipment
Provision for slow moving spares
Provision for gratuity
Amortization on intangible assets
Finance cost
Profit before working capital changes
(Increase)/decreasa in current assets
Stores and spares
Stock-in-trade
Trade dedts
Loans and advances
Trade deposits and short term payments
Other receivables
Sales tax payable / refundable
Increase in current liabilities
Trade and other payables

4320521

3417514

1570545
-2211
24649
101796
1491
517788
6534579

1410996
-1869
25384
96884
1466
569184
5519559

-2329945
-639725
158344
14307
10138
-14635
117939
-3E+006

-622123
587795
487943
2961
-39046
-125554
-77777
214199

991925
4842927

353509
6087267

index

LUCKY CEMENT LTD


Balance Sheet
2011
2010
(Rupees in '000')
Assets
Non-Current Assets
Fixed assets
Property, plant,and equipment
Intangible assets
Long term advance
Long term deposit
Current Assets
Store and spares
Stoke-in-trade
Trade debets-considered good
Loan and advances
Trade deposit and
Short term prepayments
Other receivables
Tax refunds due from Govt.
Taxation-net
Sales tax refundable
Cash and bank balance
Total Assets
Equity and Liabilities
Share Capital and Reserves
Share capital
Reserves
Non-Current Liabilities
Long term finance
Long term deposits
Deferred liability
Deferred tax liability

Current Liabilities
Trade and other payables
Accrued mark-up

77%
0.004%
77%
0.13%
0.01%
77%

82%
0%
82%
0%
0%
0%

15.3%
3.0%
1.5%
0.2%

10%
2%
2%
0%

0.1%

0%

0.5%
1.3%
0.1%
0.0%
0.9%
22.9%
100%

1%
1%
0%
0%
1%
18%
100%

8%
60%
67%

8%
57%
66%

1.6%
0.1%
1.0%
4.0%
6.6%

4%
0%
1%
4%
9%

10%
0.2%

7%
0%

Short term borrowing


Current portion and
long term finances
Contingencies and Commitment
Total Equity and Liabilities

100%

15%

15%

0.6%

0%

26%

23%
100%

index

Note
5
6
7

8
9
10
11
12
13
14

15

16
17

18
19
20
21

22
23

24
18

25

Gross sales
Less:
Sales tax and excise duty
Rebates and commission
Net sales
Cost of sales
Gross profit
Distribution cost
Administrative expenses
Finance cost
Other charges
Other income
Profit before taxation
Taxation
current
deferred
Profit after taxation
Other comprehensive income
Total comprehensive income for the year

LUCKY CEMENT LIMITED


Profit and Loss Account
2011
2010
(Rupees in '000')
122%
21%
119%
0.8%
17%
22%
136%
100%
100%
67%
67%
33%
33%
12%
1.2%
2.0%
1.3%
0.01%
17%

14%
1.2%
2.3%
1.1%
0.0%
19%

1.0%
0.3%
1.3%
15%

0.8%
0.3%
1.1%
13%

15%

13%
(Rupees)

Earning per share - basic and diluted

12.28

9.70

index

Note
26

27

28
29
30
31
32

33

34

Activity Ratios
Inventory Turnover

Cost of Good Sold


Average Inventory

4.66

Average No. of Days in


Inventory

365
Inventory Turnover

78.34

Recievable Turnover

Sales
Average Trade Recievables

9.29

Average No. of Days in


Recievable

365
Recievable Turnover

39.29

Payable Turnover

Purchases
Average Account Payable

-1.22

Average No. of Days in Payables

365
Payables Turnover

-298.94

Working Capital Turnover

Sales
Average Working Capital

-6.47

Fixed Asset Turnover

Sales
Average Fixed Assets

0.21

Total Asset Turnover

Sales
Average Total Assets

0.16

index
4.66

78.34

9.29

39.29

-1.22

-298.94

-6.47

0.21

0.16

W.C
Avg. WC

C.A
C.L
16315930 20338480
-2011275

Liquidity Ratios

Days of Sale in A/R + Days of


Supply in inventory -Days in A/P

416.57

Current Ratio

Current Assets
Current Liabilities

0.88

Quick Ratio

Cash + Marketable Securities+


Account Recievable
Current Liabilities

0.09

Cash Ratio

Cash + Marketable Securities


Current Liabilities

0.03

Cashflow from operations Ratio

Cashflow from operations


Current Liabilities

0.38

Cash Conversion CycleCycle

Projected Expenditure
Defensive Interval

Cost of Good Sold+ Other


operating expenses except
depreciation
365 *(Cash + Marketable
Securities+ Account
Recievable)
Projected
Expenditures

4393084
81

index
416.57
0.88

0.09

0.03

0.38

4393084
81

Long term debt and solvency Ratios

Debt to Total Capital

Total Debt
Total Capital

33%

Debt to Equity

Total Debt
Total Equity

48%

Times Interest Earned

EBIT
Interest Expense

8.34

Fixed Charge Coverage

Earning before Fixed Charges


and Taxes
Fixed Charges

2.27

Capital Expenditure Ratio

Cash from Operations


Capital Expenditures

2.14

CFO to Debt

Cash from Operations


Total Debt

0.30

os
33%

48%

8.34

2.27

2.14

0.30

index

Profitability Analysis

Gross Margin ratio

Gross Profit
Sales

0.33

Operating Margin

Operating Income
Sales

0.17

EBIT Margin

EBIT
Sales

0.17

Profit Margin

Net Income
Sales

0.15

Return on Assets

NI
Average Total Assets

0.05

Return on Equity

NI
Average Stakeholders Equity

0.038

Return on Total Capital

NI
Average total capital

0.025

Return on Sales

NI
Sales

0.15

Basic EPS

Earning availble for Common


Shares common
Weighted average
shares outstanding

12.28

Dividend Payout Ratio

Dividends
NI

0.33

Book Value of Equity per Share

BV of Equity
No. of Shares outstanding

85.88

CFO per share

Cashflow from operations


No. of Shares outstanding

12.60

Effective Tax Rate

Income Tax Expense


Pretax Income

0.081

index
0.33

0.17

0.17

0.15

0.05

0.038

0.025

0.15

12.28

0.33

85.88

12.60

0.081

Current Liabilities in Avg


Current Assets Avg.
Total non-Current Assets Avg.

Forecast working
2012
40%
32%
125%

2011
41%
36%
122%

2010
39%
28%
128%

index

2016

LUCKY CEMENT LTD


Balance Sheet
2015

Assets
Non-Current Assets
Fixed assets
Property, plant,and equipment
Intangible assets
Long term advance
Long term deposit
Total Non-Current Assets
Current Assets
Store and spares
Stoke-in-trade
Trade debets-considered good
Loan and advances
Trade deposit and
Short term prepayments
Other receivables
Tax refunds due from Govt.
Taxation-net
Sales tax refundable
Cash and bank balance
Total Assets
Equity and Liabilities
Share Capital and Reserves
Share capital
Reserves
Non-Current Liabilities
Long term finance
Long term deposits
Deferred liability
Deferred tax liability

Current Liabilities
Trade and other payables
Accrued mark-up

43907041

41360923

7542511
1491564
741830
86211

7105130
1405070
698812
81211

46196

43517

261489
643691
49759
0
419563
11282814
55189855

246326
606364
46874
0
395233
10628536
51989459

3233750
24539079
27772829

3233750
24539079
27772829

658298
37306
391837
1652796
2740237

658298
37306
391837
1652796
2740237

5333656
112707

5024364
106171

Short term borrowing


Current portion and
long term finances
Contingencies and Commitment
Total Equity and Liabilities
Difference
Total Assets
Total Equity & Lib.

10567644
350065

8185421
329765

14109145

13290972

55189855

55189855
-10567644

51989459

51989459
-8185421

LUCKY CEMENT LTD


Balance Sheet
2014

2013

2012

2011
2010
(Rupees in '000')

38962450

36703063

34574694

31705156
1685
31706841
55373
3175
31765389

31378255
2977
31381232
55373
2175
31438780

6693111
1323591
658289
76502

6304986
1246838
620115
72066

5939367
1174535
584156
67887

6313584
1248538
620961
72164

4008288
608813
779305
86471

67%
13%
6.6%
0.8%

40994

38616

36377

38669

48807

0.4%

232042
571202
44156
0
372314
10012200
48974650

218586
538078
41595
0
350724
9431604
46134666

205910
506876
39183
0
330386
8884676
43459370

218884
538812
41652
0
351202
9444466
41209855

204249
538812
145151
117939
333629
6871464
38310244

2.3%
5.7%
0.4%
0.0%
3.7%

3233750
24539079
27772829

3233750
24539079
27772829

3233750
24539079
27772829

3233750
24539079
27772829

3233750
21862179
25095929

658298
37306
391837
1652796
2740237

658298
37306
391837
1652796
2740237

658298
37306
391837
1652796
2740237

658298
37306
391837
1652796
2740237

1658600
31957
319217
1562850
3572624

24%
1.4%
14%
60%

4733006
100014

4458545
94214

4199999
88751

4043689
85448

3043320
155500

38%
0.8%

5941340
310642

3827391
292628

1836028
275659

6302252
265400

6267112
175759

12520244

11794209

11110276

10696789

9641691

48974650

48974650
-5941340

46134666

46134666
-3827391

43459370

43459370
-1836028

41209855

38310244

59%
2.5%

index

Note
5
6
7

8
9
10
11
12
13
14

15

16
17

18
19
20
21

22
23

24
18

25

LUCKY
Profit
2016

2015

35,074,030
(23,493,139)
11,580,890

33,040,127
(22,130,799)
10,909,328

(4,637,982)
(428,222)
(2,563,979)
(403,838)
3,037
3,549,907

(4,369,031)
(403,390)
(2,415,296)
(380,419)
2,861
3,344,052

213,770
73,903
(287,673)
3,262,234

201,374
69,618
(270,991)
3,073,061

Gross sales
Less:
Sales tax and excise duty
Rebates and commission
Net sales
Cost of sales
Gross profit
Distribution cost
Administrative expenses
Finance cost
Other charges
Other income
Profit before taxation
Taxation
current
deferred
Profit after taxation
Other comprehensive income
Total comprehensive income for the year
Earning per share - basic and diluted

Sales growth rate


COGS % of Sales
Distribution cost % of Sales
Administrative expenses % of Sales
Finance cost % of Debt
Other charges % of Sales
Other income % of Sales
Profit before Tax % of Taxation

LUCKY CEMENT LIMITED


Profit and Loss Account
2014
2013

2012

2011
(Rupees in '000')
31767053
5545549
203985
5749534
26017519
-17306400
8711119

31,124,168
(20,847,460)
10,276,708

29,319,313
(19,638,539)
9,680,774

27,619,120
(18,499,723)
9,119,397

(4,115,676)
(379,998)
(2,275,236)
(358,359)
2,695
3,150,134

(3,877,012)
(357,962)
(2,143,298)
(337,578)
2,538
2,967,461

(3,652,189)
(337,204)
(2,019,010)
(318,003)
2,391
2,795,382

-3236425
-313389
-517788
-325482
2486
4320521

189,696
65,581
(255,277)
2,894,857

178,696
61,778
(240,473)
2,726,988

168,334
58,195
(226,529)
2,568,853

-260175
-89946
-350121
3970400
3970400
12.28

2011
6%
66.52%
12%
1.20%
7.44%
1.25%
0.01%
8%
74%
26%

2010

Average

67.44%
14%
1.24%
7.18%
1.05%
0.01%

66.98%
13%
1.22%
7.31%
1.15%
0.01%

70%
30%

72%
28%

index

2010
(Rupees in '000')

Note
29052901
4226459
317649
4544108
24508793
-16529932
7978861

26

-3433047
-303244
-569184
-257774
1902
3417514

28
29
30
31
32

-195697
-84360
-280057
3137457

33

27

0.01%

3137457
(Rupees)
9.70

34

Date
LUCky Cement
172.67
7-May-13
174.14
8-May-13
176.87
9-May-13
177.03
10-May-13
178.19
13-May-13
180.65
14-May-13
178.74
15-May-13
178.68
16-May-13
178.12
17-May-13
179.2
20-May-13
181.8
21-May-13
182.58
22-May-13
179.31
23-May-13
177.53
24-May-13
177.49
27-May-13
180.51
28-May-13
178.2
29-May-13
179.2
30-May-13
182.36
31-May-13
182.85
3-Jun-13
185.55
4-Jun-13
189.81
5-Jun-13
193.71
6-Jun-13
191.36
7-Jun-13
189.08
10-Jun-13
193.2
11-Jun-13
191.1
12-Jun-13
200.63
13-Jun-13
203.65
14-Jun-13
201.07
17-Jun-13
198.56
18-Jun-13
206.86
19-Jun-13
200.69
20-Jun-13
200.61
21-Jun-13
201.36
24-Jun-13
202.97
25-Jun-13
210.69
26-Jun-13
208.71
27-Jun-13
209.72
28-Jun-13
208.66
1-Jul-13
218.08
2-Jul-13
219.71
3-Jul-13

KSE 100

RE

RM

19223.43
19253.86 0.008513 0.001583
19437.6 0.015677 0.009543
19662.79 0.000905 0.011585
19918.81 0.006553 0.013021
20230.78 0.013805 0.015662
20472.38 -0.010573 0.011942
20582.21 -0.000336 0.005365
20429.29 -0.003134 -0.00743
20545.28 0.006063 0.005678
20820.05 0.014509 0.013374
21186.08 0.00429 0.017581
21452.42 -0.01791 0.012571
21312 -0.009927 -0.006546
21279.45 -0.000225 -0.001527
20942.32 0.017015 -0.015843
21508.52 -0.012797 0.027036
21435.82 0.005612 -0.00338
21589.73 0.017634 0.00718
21823.87 0.002687 0.010845
22118.13 0.014766 0.013483
22267.31 0.022959 0.006745
22102.72 0.020547 -0.007392
22282.09 -0.012132 0.008115
22367.37 -0.011915 0.003827
22118.43 0.02179 -0.01113
22200.65 -0.01087 0.003717
22326.84 0.049869 0.005684
22771.79 0.015053 0.019929
22545.23 -0.012669 -0.009949
22200.64 -0.012483 -0.015284
22027.02 0.041801 -0.00782
22127.12 -0.029827 0.004544
22005.25 -0.000399 -0.005508
21734.6 0.003739 -0.012299
21070.12 0.007996 -0.030572
21168.65 0.038035 0.004676
20942.06 -0.009398 -0.010704
21038.54 0.004839 0.004607
20986.39 -0.005054 -0.002479
21377.83 0.045145 0.018652
21652.08 0.007474 0.012829

RF
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%

RM-RF
-12%
-11%
-11%
-11%
-10%
-11%
-11%
-13%
-11%
-11%
-10%
-11%
-13%
-12%
-14%
-9%
-12%
-11%
-11%
-11%
-11%
-13%
-11%
-12%
-13%
-12%
-11%
-10%
-13%
-14%
-13%
-12%
-13%
-13%
-15%
-12%
-13%
-12%
-12%
-10%
-11%

4-Jul-13
5-Jul-13
8-Jul-13
9-Jul-13
10-Jul-13
11-Jul-13
12-Jul-13
15-Jul-13
16-Jul-13
17-Jul-13
18-Jul-13
19-Jul-13
22-Jul-13

220.58
221.7
228.88
239.32
247.85
242.74
241.65
234.65
232.98
225.92
228.61
230.91
234.32

21802.86 0.00396 0.006964


21989.74 0.005078 0.008571
22173.86 0.032386 0.008373
22377.21 0.045613 0.009171
22711.89 0.035643 0.014956
22940.46 -0.020617 0.010064
22758.52 -0.00449 -0.007931
23030.08 -0.028968 0.011932
23153.23 -0.007117 0.005347
23179.87 -0.030303 0.001151
22984.74 0.011907 -0.008418
23126.51 0.010061 0.006168
23415.66 0.014768 0.012503

12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%

-11%
-11%
-11%
-11%
-11%
-11%
-13%
-11%
-11%
-12%
-13%
-11%
-11%

index

RM
RM-RF
RF
RE

0.1421595237
0.0125029674
-11%
12%
10%

Engro
WD
WE
RE
RD
Tax
WACC

33%
67%
10%
6%
34%
8%

Fv
Coupon rat
Pmt
Nper
pv
Rate
rd

Engro
4,000,000,000
14.50%
580,000,000
1
4,250,000,000
7.8%
13%

SUMMARY OUTPUT
Regression Statistics
Multiple R
0.0816294791
R Square
0.0066633719
Adjusted R Square
-0.0124392556
Standard Error
0.0190242751
Observations
54
ANOVA
df
Regression
Residual
Total

Intercept
X Variable 1

1
52
53

SS
MS
F
0.0001262459 0.0001262459 0.3488196515
0.0188199983 0.000361923
0.0189462442

Coefficients
0.0223740987
0.1421595237

Standard Error
t Stat
P-value
0.0281085541 0.7959889581 0.4296573697
0.2406996661 0.5906095592 0.5573403751

index

Significance F
0.55734

Lower 95%Upper 95%


Lower 95.0%
Upper 95.0%
-0.03403 0.078778 -0.03403 0.078778
-0.34084 0.625159 -0.34084 0.625159

2016
Dividends
Terminal

2015

2014

2013

2012

1000
2000
9549.432
10549.43
2000
Re=
10%
NPV
$15,837.86

2000

2000

3000

2000

2000

3000

index