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Pangrio Sugar Mill

2006 2007 2008 2009

FIXED ASSETS
Property, plant and equipment 177,186,997 160,263,065 78,786,454 71,830,800
LONG TERM DEPOSITS 132,250 132,250 132,250 132,250

CURRENT ASSETS
Stores, spares and loose tools 17,101,057 19,109,258 20,472,762 20,545,727
Stock in trade-finished goods 0 13,383,673 52,741,237 122,220,362
Trade debts 0 1,585,799 1,425 0
Loans and advances 1,131,790 2,118,109 1,652,698 6,824,708
Trade deposits and short-term prepayments
4,924,812 4,711,351 4,647,571 6,231,324
Other receivables 1,587,910 1,024,005 891,790 835,861
Taxation 12,035,039 14,609,512 18,383,528 4,576,084
Cash and bank balances 922,155 667,487 1,997,758 1,397,236
37,702,763 57,209,194 100,788,769 162,631,302
215,022,010 217,604,509 179,707,473 234,594,352

SHARE CAPITAL AND RESERVES


Authorised
12,000,000 ordinary shares of Rs. 10/=
120,000,000
each 120,000,000 120,000,000 120,000,000
Issued, subscribed and paid up 108,500,000 108,500,000 108,500,000 108,500,000
Accumulated loss 850,565,353 874,770,799 -872,712,088 688,874,250
742,065,353 766,270,799 764,212,088 580,374,250
SURPLUS ON REVALUATION OFPROPERTY, 88,171,437 PLANT
79,679,463
AND EQUIPMENT 0

NON CURRENT LIABILITIES Long term finances

Banks and financial institutions 87,727,255 22,165,818 0 22,004,939


Other-Unsecured-interest free – 70,000,000 70,000,000 70,000,000
Deferred liabilities
Staff gratuity 3,929,807 3,929,807 451,518,828 297,936,989
Banking Companies 353,810,898 353,810,898
CURRENT LIABILITIES
Trade and other payables 200,150,057 203,672,806 154,390,315 210,654,712
Markup payable on borrowings 52,105,882 52,105,882 52,105,882 52,415,556
Short term borrowing 55,595,369 22,595,369 22,595,369 22,595,369
Current portion of long term liabilities
107,096,137 164,914,744 182,308,648 137,401,098
Provision for taxation 8,500,521 11,000,521 11,000,521 1,959,938
423,447,966 454,289,322 422,400,735 425,026,673
215,022,010 217,604,509 179,707,475 234,594,351
Vertical analysis

2006 2007 2008 2009

FIXED ASSETS
Property, plant and equipment 0.8240 0.7365 0.4384 0.3062
LONG TERM DEPOSITS 0.0006 0.0006 0.0007 0.0006

CURRENT ASSETS 0.0000 0.0000 0.0000 0.0000


Stores, spares and loose tools 0.0795 0.0878 0.1139 0.0876
Stock in trade-finished goods 0.0000 0.0615 0.2935 0.5210
Trade debts 0.0000 0.0073 0.0000 0.0000
Loans and advances 0.0053 0.0097 0.0092 0.0291
Trade deposits and short-term prepayments
0.0229 0.0217 0.0259 0.0266
Other receivables 0.0074 0.0047 0.0050 0.0036
Taxation 0.0560 0.0671 0.1023 0.0195
Cash and bank balances 0.0043 0.0031 0.0111 0.0060
0.1753 0.2629 0.5608 0.6932
1.0000 1.0000 1.0000 1.0000

SHARE CAPITAL AND RESERVES


Authorised
12,000,000 ordinary shares of Rs. 10/= each
0.5581 0.5515 0.6678 0.5115
Issued, subscribed and paid up 0.5046 0.4986 0.6038 0.4625
Accumulated loss 3.9557 4.0200 -4.8563 2.9364
3.4511 3.5214 4.2525 2.4739
SURPLUS ON REVALUATION OFPROPERTY, 0.4101 PLANT0.3662
AND EQUIPMENT
0.0000 0.0000

NON CURRENT LIABILITIES Long term finances

Banks and financial institutions 0.4080 0.1019 0.0000 0.0938


Other-Unsecured-interest free 0.3217 0.3895 0.2984
Deferred liabilities 0.0000 0.0000 0.0000 0.0000
Staff gratuity 0.0183 0.0181 2.5125 1.2700
Banking Companies 1.6455 1.6259 0.0000 0.0000
CURRENT LIABILITIES 0.0000 0.0000 0.0000 0.0000
Trade and other payables 0.9308 0.9360 0.8591 0.8980
Markup payable on borrowings 0.2423 0.2395 0.2899 0.2234
Short term borrowing 0.2586 0.1038 0.1257 0.0963
Current portion of long term liabilities 0.4981 0.7579 1.0145 0.5857
Provision for taxation 0.0395 0.0506 0.0612 0.0084

1.0000 1.0000 1.0000 1.0000

Horizontal Analysis
2006 2007 2008 2009

FIXED ASSETS
Property, plant and equipment 90 49 91
LONG TERM DEPOSITS 100 100 100

CURRENT ASSETS
Stores, spares and loose tools 112 107 100
Stock in trade-finished goods 394 232
Trade debts 0 0
Loans and advances 187 78 413
Trade deposits and short-term prepayments 96 99 134
Other receivables 64 87 94
Taxation 121 126 25
Cash and bank balances 72 299 70
152 176 161
101 83 131

SHARE CAPITAL AND RESERVES


Authorised
12,000,000 ordinary shares of Rs. 10/= each
100 100 100
Issued, subscribed and paid up 100 100 100
Accumulated loss 103 -100 -79
103 100 76
SURPLUS ON REVALUATION OFPROPERTY, PLANT AND
90EQUIPMENT 0

NON CURRENT LIABILITIES Long term finances

Banks and financial institutions 25 0


Other-Unsecured-interest free 100 100
Deferred liabilities
Staff gratuity 100 11,490 66
Banking Companies 100 0
CURRENT LIABILITIES
Trade and other payables 102 76 136
Markup payable on borrowings 100 100 101
Short term borrowing 41 100 100
Current portion of long term liabilities 154 111 75
Provision for taxation 129 100 18

101 83 131

Vertical Analysis
Commulative
2006 2007 2008 2009

FIXED ASSETS
Property, plant and equipment 90 44 41
LONG TERM DEPOSITS 100 100 100

CURRENT ASSETS
Stores, spares and loose tools 112 120 120
Stock in trade-finished goods
Trade debts
Loans and advances 187 146 603
Trade deposits and short-term prepayments 96 94 127
Other receivables 64 56 53
Taxation 121 153 38
Cash and bank balances 72 217 152
152 267 431
101 84 109

SHARE CAPITAL AND RESERVES


Authorised
12,000,000 ordinary shares of Rs. 10/= each
100 100 100
Issued, subscribed and paid up 100 100 100
Accumulated loss 103 -103 81
103 103 78
SURPLUS ON REVALUATION OFPROPERTY, PLANT AND
90EQUIPMENT 0 0

NON CURRENT LIABILITIES Long term finances

Banks and financial institutions 25 0 25


Other-Unsecured-interest free
Deferred liabilities
Staff gratuity 100 11,490 7,581
Banking Companies 100 0 0
CURRENT LIABILITIES
Trade and other payables 102 77 105
Markup payable on borrowings 100 100 101
Short term borrowing 41 41 41
Current portion of long term liabilities 154 170 128
Provision for taxation 129 129 23

101 84 109

Source
http://www.pangriosugar.com/Financial_Statements.html
Average inventory
0 6691836.5 33062455 ### 61110181
Income Statement
2006 2007 2008 2009

Sales 671,444,801 481,889,518 620,521,369 391,987,610


Cost of goods sold 636,532,937 500,895,485 608,479,102 349,767,840
Gross profit/(loss) 34,911,864 19,005,967 12,042,267 42,219,770
Other income 9,802 7,211,755 10,386,173 185,992,385
Distribution expenses 2,183,600 711,073 1,173,864 1,192,844
Administrative expenses 13,585,982 16,656,804 17,898,124 20,833,852
operating profit 5,370,852 1,035,331 3,356,452 206,185,459
Finance cost 21,130,632 11,191,453 1,297,740 3,027,216
(Loss)profit from ordinary activities before
13,781,232 30,197,420 3,860,007
taxation and workers profit participation957,604
fun Workers’
– Profit Participation fund 10,157,912
(Loss)/profit before taxation 12,823,628 30,197,420
Taxation 3,500,000 2,500,000 5,302,486
Net (loss)/profit for the year 9,323,628 32,697,420 2,058,711 189,140,324

Horizontal Analaysis
with separate base year

Sales 72 129 63
Cost of goods sold 79 121 57
Gross profit/(loss) 54 63 351
Other income 73,574 144 1,791
Distribution expenses 33 165 102
Administrative expenses 123 107 116
operating profit 19 324 6,143
Finance cost 53 12 233
(Loss)profit from ordinary activities before 219 0
taxation and workers profit participation fun Workers’ Profit Participation fund
(Loss)/profit before taxation 235 0
Taxation 71 0
Net (loss)/profit for the year 351 6 9,187

Horizontal analysis
with base year 2006
Sales 72 92 58
Cost of goods sold 79 96 55
Gross profit/(loss) 54 34 121
Other income 73,574 105,960 1,897,494
Distribution expenses 33 54 55
Administrative expenses 123 132 153
operating profit 19 62 3,839
Finance cost 53 6 14
(Loss)profit from ordinary activities before 219 0 28
taxation and workers profit participation fun Workers’ Profit Participation fund
0 1,061
(Loss)/profit before taxation 235 0 0
Taxation 71 0 151
Net (loss)/profit for the year 351 22 2,029

Vertical Analysis
Sales 100 100 100 63
Cost of goods sold 95 104 98 56
Gross profit/(loss) 5 4 2 7
Other income 0 1 2 30
Distribution expenses 0 0 0 0
Administrative expenses 2 3 3 3
operating profit 1 0 1 33
Finance cost 3 2 0 0
(Loss)profit from ordinary activities before 2 6 0 1
taxation and workers profit participation fun Workers’
0 Profit Participation fund
0 2
(Loss)/profit before taxation 2 6 0 0
Taxation 1 1 0 1
Net (loss)/profit for the year 1 7 0 30
liquid
Liquidity Ratios 0.45

2006 2007 2008 2009 0.4


0.35
0.3

Current Ratio 0.09 0.13 0.24 0.38 0.25


0.2

Quick Ratio 0.09 0.1 0.11 0.1 0.15


0.1
0.05
0

Profitablility ratios 2006 2007

2006 2007 2008 2009


pro
200
Gross Profit/(Loss) to Sales % 5.1 -3.94 1.94 10.77
Pre-tax Profit/(Loss) to Sales % 2 -6.27 0.33 48.25
150
Pre-Tax Profit to Capital % 11.82 -27.83 1.9 174.32

100

Marketablility ratios
50
2006 2007 2008 2009
Paid-up Value per Share Rs. 10 10 10 10 0
Earnings after Tax per Share Rs. 0.86 -3.01 -0.75 0.74
Market Value per Share Rs. 7.6 10.4 6.89 5.04
-50
2006
Activity Ratios
2006 2007 2008 2009 marke
Inventory turnover 74.85 18.4 4 12
IT in days 4.88 19.83 91.29 10
Total Assets turnover 3.12 2.21 3.45 1.67 8
Fixed assets turnover 3.79 3 7.86 5.45
6
4
2
0
-2
-4
2006 2007

Ac
100
90
80
70
60
50
40
30
20
10
0
2006 2007
liquidity ratios

Current Ratio
Quick Ratio

2007 2008 2009

profitablility ratios

Gross Profit/(Loss)
to Sales %
Pre-tax Profit/
(Loss) to Sales %
Pre-Tax Profit to
Capital %

6 2007

market ability ratios

Paid-up Value
per Share Rs.
Earnings after
Tax per Share
Rs.
Market Value per
Share Rs.

06 2007 2008 2009

Activity ratois

Inventory
turnover
IT in days
Total Assets
turnover
Fixed assets
turnover

2006 2007 2008 2009