Anda di halaman 1dari 20

BALANCE SHEET AS AT JUNE 2006,2007,2008.

LIABILITIES & EQUITY


SHARE CAPITAL & RESERVES
Share Capital
Reserves

SURPLUS ON REVALUATION OF PROPERTY, PLANT AND EQUIPMENT


NON CURRENT LIABILITIES
Long-term financing
Liabilities against assets to finance lease
DEFERRED LIABILITIES
Taxation
Employee benefits
Deferred Income - grant-in-aid
CURRENT LIABILITIES
Trade and other payables
Interest / mark-up accrued on loans and other payables
Short-term borrowings
Long-term financing
Liabilities against assets subject to finance lease
Provision for taxation
CONTINGENCIES AND COMMITMENTS

2008

2007
(Rupees in '000')

2006

1,496,677
2,180,714

1,368,591
1,872,683

1,215,873
1,467,619

3,677,391

3,241,274

2,683,492

1,940,365

823,341

464,171

2,480,238
169,954

1,314,219
187,027

250,365
182,487

1,438,405
82,996
4,171,593

736,309
66,323
2,303,878

409,093
62
69,814
911,821

2,084,351
220,104
3,868,988
331,701
100,286
6,605,430

1,572,732
213,298
3,043,650
245,501
103,105
5,178,286

1,599,580
226,709
3,795,340
321,496
105,132
6,048,257

16,394,779

11,546,779

10,107,741

ASSETS
NON CURRENT ASSETS
Property, plant and equipment
Intangible assets

Long term investments


Long-term deposits

2008

2007
(Rupees in '000')

2006

6,332,705
573,617

4,046,378
581,705

3,144,904
602,465

6,906,322

4,628,083

3,747,369

52,945
34,218

12,474
35,332

11,227
38,811

81,990
3,571,168
4,207,741
542,663
321,574
32,437
72,295
49,620
87,322
434,484
9,401,294

64,376
2,507,679
2,947,646
267,327
306,775
25,543
162,825
3,831
48,314
536,574
6,870,890

58,543
2,576,026
2,614,396
225,113
287,034
9,266
91,022

16,394,779

11,546,779

10,107,741

CURRENT ASSETS
Stores, spares and loose tools
Stock-in-trade
Trade debts
Loans and advances
Trade deposits and short-term prepayments
Other receivables
Other financial assets
Sales Tax Refundable
Advance Income Tax
Cash and bank balances

448,934
6,310,334

PROFIT AND LOSS ACCOUNT


2008
(PKR in '000')

2007
(PKR in '000')

2006
(PKR in'000')

Revenue
Less: Sales-Tax and Discount

13,926,572
1,274,579

13,077,670
1,264,183

11,042,160
1,634,142

Revenue - net
Cost of goods sold

12,651,993
9,814,594

11,813,487
9,223,623

9,408,018
7,360,351

2,837,399
18,247

2,589,864
100,458

2,047,667
112,553

2,855,646

2,690,322

2,160,220

Distribution cost
Administrative expenses
Other operating expenses
Finance cost
Share of loss of associate

676,452
514,122
46,697
993,565
5,585

618,981
386,556
52,429
937,109
12,162

590,412
262,482
25,108
742,130
23,337

Profit before tax


Provision for taxation

619,225
177970

707,409
125,165

516,751
74,609

Profit after tax

441,255

582,244

442,142

4.14
4.14

in Rupees
5.5
5.46

in Rupees
6.3
5.79

Gross Profit
Other Operating Income

Earning per share


Basic
Diluted

CASH FLOW STATEMENT


2008

Cash flow from operating activity:


Profit before tax

619,225

Non cash adjustments:


Depreciation
Ammortization of Intangible Assets
Impairment of goodwill
Share of Profit/ (loss) of Associate
(Reversal) - Provision for impairment in value of investments
Finance Cost
Provision for doubtful receivables
Provision for obsolete and slow moving stock
Reversal of provision for employee benefits
Reversal of provision for depreciation on lease hold land
Reversal of provision against slow moving Finished Goods
Payables to insurance company
Provision for compensated absences
Dividend income
Gain/Loss due to change in fair value of investments
Ammortization of grant-in-aid
Gain on sale and lease back activities
Gain on disposal of property, plant and equip

241,845
3,274
54,394
(5,585)
(34,886)
993,565
70,911
(2,252)
(46)
(3,065)
12,873
90,530
(3,316)
(9,994)
(653)

Cash flow before working capital changes

Working Capital changes:

1,407,595
2,026,820
(2,261,321)

Net Cash Flow Generated from Operations

(234,501)

Payment of Employee retirement benefits


Finance cost paid
Net Income Taxes (Paid)/ Refunded

(986,759)
(107,970)

Net Cash Flow from operating activities


Cash Flow from Investing activities:

(1,094,729)
(1,329,230)

Purchase of property plant n equip


Proceeds from disposal of property plant n equip
CF on acquisition of PEL Daewoo
Increase in long term deposits
Deividend received

(762,581)
13,800
74,721
8,506
-

Net cash used in Investing Activities

(665,554)

Net cash from financing activities


Repayment of long term financing
Proceeds from long term financing
Payment of liabilities against assets sub to financial lease
Proceeds from sale and lease back activities
Short term borrowings
Dividend paid
Net Cash Flow from Financing activities
Net increase in sach and cash equivalents
Opening cash flow
Closing cash flow

(851,752)
2,103,971
(138,558)
825,338
(57,475)
1,881,524
(113,260)
536,574

423,314

2007
(Rupees in '000')

2006

707,409

516,751

201,238
33,585
(12,162)
10,915
937,109
79,869
13,124
(2,858)
2,979
(71,803)
(3,491)
(848)

162,275
14,699
23,337
(15,853)
742,130
32,827
4,580
(3,170)
(22)
15,728
(2,050)
(55,426)
(3,674)
(1,502)

1,187,657
1,895,066
(495,873)
1,399,193

913,879
1,430,630
(770,712)
659,918

(16)
(950,520)
(25,325)

(656,172)
19,723

(975,861)
423,332

(636,449)
23,469

(400,030)
11,797
(5,569)
-

(400,798)
2,824
317
(13,248)
2,050

(393,802)

(408,855) -100000

(275,141)
1,263,000
(120,584)
(751,690)
(57,475)

(278,258)
(88,402)
36,550
915,513
(86,344)

58,110

499,059

87,640
448,934

113,673
335,261

536,574

448,934

Gross Sales
Net Sales
Gross Profit
Financial Charges
Profit Before Tax
Profit After Tax
Earning per Share
Reserves
Total Equity
Share Holder's Equity
Long Term Liabilities
Current Liabilities
Fixed Assets
Current Assets
Cost Of Sales
Stocks in Trade
Account Receivable
Short Term Borrowings
Loans Payables
Trade Payables
Credit Purchases
Long Term Investment
Ordinary Share Capital
Dividend Paid
Par Value Of share
Prefered Stock
Depreciation
Repayment of Loan
Ordinary Stock
Interest Payment
Working Capital
Retained Earnings

Financial Values

2008

(Rs In 000)
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs

13,926,572
12,651,993
2,837,399
993,565
619,225
441,255
0.0000023
2,180,714
3,677,391
1,496,677
4,171,593
6,605,430
6,906,322
9,401,294
9,814,594
3,571,168
4,782,841
3,868,988
220,104
2,084,351
138,55852,945
1,496,677
57,4750.00001
100000000
241,845
851,752150000000
993,565
2,795,864
2,180,714

EBT
Interest Expense
Market Value per Share

Rs
Rs
Rs

619,225
993,565
23.51

FINANCIAL RATIOS
Ratios
Quick Ratio
Current Ratio
Assets Turnover(AT)
Fixed AT Ratio
Current AT Ratio
Stock Inventory Turnover
Change of inventory
Receivable Turnover
Avg Collection Period
Account Payable Turnover
Avg Payment Period
Total Debt/Equity Ratio
Total Liability Ratio
Number of Ordinary Shares
Book Value per Share
Net Earning per Share
Dividend Cover
Payout Ratio
Retention Ratio
Dividend Yield
Price Earning Ratio
Gross Profit Margin
Operating Profit Margin
Net Profit Margin
Return on Total Assets

Formulas
(Current assets-inventory)/current liabilities
Current assets/current liabilities
Net revenue/Total assets
Net sales/Net tangible fixed asset
Net sales/Total current assets
cost of sales/stocks
360/inventory turnover
Annual sales/Avg net receivable
360/Receivable turnover
Annual credit purchase/Avg acnt payable
360/Acnt payable turnover
long term debt/(equity + long term debt)
Total liability/(equity+total liability)
Ordinary share capital/par value of ordinary shares
Total stock holder equity/No. of shares outstanding
Net Profit to shareholder/No. of shares outstanding
Earning per share/Dividend per share
Dividends/Net Income
1-Payout Ratio
Indicated annual dividend/current mrkt price
Current ordinay share mrkt pr/Earning per share
(Gross profit*100)/Sales
(Profit before int&tax * 100)/sales
(Net profit*100)/Sales
(Net profit*100)/Total assets

2008
0.88
1.42
0.85
1.83
1.35
2.75
130.99
2.65
136.09
0.32
1142.18
0.03
0.88
1.497E+11
Rs
5,986.71
Rs
Rs
0.01-0.13
1.13
0.00
2602916521.74
22.43
4.89
3.49
2.71

Earning Power of Assets


Return on Equity
Time Interest Earned
Debt Service Coverage Ratio
Altman's Z-score

Z - SCORE For Public Limited Manufactoring Co.


Should be 3.079 or above for MAX. Safety
MVA
DuPont Analysis (ROE)

trend analysis
common size analysis

Net profit/Total assets


Net profit/Total common equity
Income before int&tax/Interest payment
(NI+Dep+int paid)/(Repayment of loan+int paid)
(1.2*X1)+(1.4*X2)+(3.3*X3)+(0.6*X4)+(1*X5)
X1=WC/TA
X2=RE/TA
X3=EBT + Int/TA
X4=Mrkt Value of Equity/TL
X5=Sales/TA
Z

0.03
0.12
0.62
11.82
0.170533802
0.133012711
0.098372171
3.584982756
0.849451646
3.715927821
Rs

PM x TA Turnover x Equity Multiplier

55,097,609
0.12

2007

2006
(Rs In 000)

(Rs In 000)
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs

13,077,670
11,813,487
2,589,864
937,109
707,409
582,244
0.0000070
1,872,683
3,241,274
1,368,591
2,303,878
5,178,286
4,628,083
6,870,890
9,223,623
2,507,679
3,240,516
3,043,650
213,298
1,572,732
120,58412,474
1,368,591
57,4750.00001
100,000,000
201,238
275,141150,000,000
937,109
1,692,604
1,872,683

Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs
Rs

11,042,160
9,408,018
2,047,667
742,130
516,751
442,142
0.0000060
1,467,619
2,683,492
1,215,873
911,821
6,048,257
3,747,369
6,310,334
7,360,351
2,576,026
2,848,775
3,795,340
226,709
1,599,580
88,40211,227
1,215,873
86,3440.00001
100,000,000
162,275
278,258150,000,000
742,130
262,077
1,467,619

Rs
Rs
Rs

707,409 Rs
937,109 Rs
52.95 Rs

516,751
742,130
74.00

2007
2006
0.84
0.62
1.33
1.04
1.14
1.10
2.55
2.51
1.72
1.49
3.68
2.86
97.88
126.00
3.65
3.30
98.75
109.01
0.30
0.27
1197.32
1339.21
0.01
0.01
0.85
0.85
1.369E+11
1.216E+11
Rs
5,474.36 Rs
4,863.49
Rs
Rs
Rs
0.03- Rs
0.02-0.10
-0.20
1.10
1.20
0.00
0.00
782052000.00
810582000.00
21.92
21.77
5.99
5.49
4.93
4.70
5.06
4.40

Rs

0.05
0.18
0.75
2.60

0.04
0.16
0.70
2.90

0.14658668
0.162182285
0.142422229
11.46423604
1.132581649
8.884075845

0.025928345
0.145197527
0.124546227
18.30280376
1.092445879
12.71952124

129,133,726
0.18

Rs

182,316,508
0.16