Particulers 2013 2012 2011

ASSETS
Current Asset
Stores,spares and loose tools 390,250 348,639 325,891
Stock in trade 2,171,536 2,161,328 2,003,029
Trade debts 514,742 598,265 401,435
Loans and advances 33,253 33,152 33,525
trade deposits and prepayments 47,722 44,832 36,936
Short term investments 1,635,183 1,460,580 1,338,474
Accrued mark-up/interest 11,603 4,348 8,517
Other receivables 6,302 15,338 15,075
Taxation-net 2,578 160,604 68,050
Bank balances 2,739,988 2,149,154 2,090,800
Total Current Assets 7,553,157 6,976,240 6,321,732
Non Current Assets
Property, plant and equipment 4,421,744 3,941,610 3,259,193
Intengible Asset 5,555 6,419 7,137
Long term investment - - -
Long term loans and advanes 25,583 20,420 22,403
Long term deposits and prepayments 8,399 15,728 10,765
Total Non current assets 4,461,281 3,984,177 3,299,498
Total Assets 12,014,438 10,960,417 9,621,230
Equities and liabilities
Share capital and Reserves
Share capital 827,253 719,350 625,522
Reserves 5,732,904 4,700,584 3,996,892
Total share capital and Reserves 6,560,157 5,419,934 4,622,414
Non current Liabilities
Long term Borrowings 0 0 0
Deferred liabilities 866,975 730,315 649,354
Total Non Current Liabilities 7,427,132 6,150,249 5,271,768
Current Liabilities
Trade and other payables 4,583,303 4,810,168 4,255,584
Accrued mark-up/interest - - 6,378
Short term finances - - -
Honda Atlas
Balance Sheet
.Rupees in '000.
Current portionof long term liabilities - - 87,500
Provision for taxation - - -
Total Current Liabilites 4,583,303 4,810,168 4,349,462
Total Equity and Liabilities 12,010,435 10,960,417 9,621,230
Particulers
ASSETS 2013 2012 2011
Current Asset % % %
Stores,spares and loose tools 3.25 3.18 3.39
Stock in trade 18.07 19.72 20.82
Trade debts 4.28 5.46 4.17
Loans and advances 0.28 0.30 0.35
trade deposits and prepayments 0.40 0.41 0.38
Short term investments 13.61 13.33 13.91
Accrued mark-up/interest 0.10 0.04 0.09
Other receivables 0.05 0.14 0.16
Taxation-net 0.02 1.47 0.71
Bank balances 22.81 19.61 21.73
Total Current Assets 62.87 63.65 65.71
Non Current Assets
Property, plant and equipment 36.80 35.96 33.88
Intengible Asset 0.05 0.06 0.07
Long term investment - - -
Long term loans and advanes 0.21 0.19 0.23
Long term deposits and prepayments 0.07 0.14 0.11
Total Non current assets 37.13 36.35 34.29
Total Assets 100.00 100.00 100.00
Equities and liabilities
Share capital and Reserves
Share capital 6.89 6.56 6.50
Reserves 47.73 42.89 41.54
Total share capital and Reserves 54.62 49.45 48.04
Non current Liabilities
Long term Borrowings - - -
Deferred liabilities 7.22 6.66 6.75
Total Non Current Liabilities 61.84 56.11 54.79
Current Liabilities
Trade and other payables 38.16 43.89 44.23
Accrued mark-up/interest - - 0.07
Annalysis of Balance Sheet
Vertical Annalysis
Short term finances - - -
Current portionof long term liabilities - - 0.91
Provision for taxation - - -
Total Current Liabilites 38.16 43.89 45.21
Total Equity and Liabilities 100.00 100.00 100.00
Particulers 2013 2012 2011
Sales 42,325,242 38,011,857 32,521,399
Cost of Sales (38,646,049) (35,235,893) (30,080,978)
Gross Profit 3,679,193 2,775,964 2,440,421
Sales and Marketing Expenses (1,206,648) (965,883) (815,463)
Administrative expenses (387,477) (335,654) (310,742)
Other Oprating Income 322,668 274,453 299,337
Other Oprating Expenses (190,453) (117,162) (109,597)
Profit from Oprations 2,217,283 1,631,718 1,503,956
Finance Cost (9,726) (11,717) (93,475)
Net Profit before taxation 2,207,557 1,620,001 1,410,481
Taxation (599,753) (415,892) (407,925)
Net Profit after taxation 1,607,804 1,204,109 1,002,556
Cash Flow from Oprating activities 2,208,740 1,720,597 2,147,882
Cash flow from Investing activities (1,154,675) (1,171,217) (642,540)
Cash flow from financing activities (463,231) (491,026) (1,056,505)
Net Increase/(Decrease) in Cash 590,834 58,354 448,837
Particulers
Profit and Loss Account 2013 2012 2011
% % %
Sales 100.00 100.00 100.00
Cost of Sales (91.31) (92.70) (92.50)
Gross Profit 8.69 7.30 7.50
Profit and Loss Account and Cash
Flow Statements
Annalysis of Profit and Loss Account and Cash Flow
Statements
Cash Flow Statements
Profit and Loss Account
Vertical Annalysis
Rupees in Thousands.
Sales and Marketing Expenses (2.85) (2.54) (2.51)
Administrative expenses (0.92) (0.88) (0.96)
Other Oprating Income 0.76 0.72 0.92
Other Oprating Expenses (0.45) (0.31) (0.34)
Profit from Oprations 5.24 4.29 4.62
Finance Cost (0.02) (0.03) (0.29)
Net Profit before taxation 5.22 4.26 4.34
Taxation (1.42) (1.09) (1.25)
Net Profit after taxation 3.80 3.17 3.08
Cash Flow Statements
Cash Flow from Oprating activities 373.83 2,948.55 478.54
Cash flow from Investing activities (195.43) (2,007.09) (143.16)
Cash flow from financing activities (78.40) (841.46) (235.39)
Net Increase/(Decrease) in Cash 100.00 100.00 100.00
Liquidation Analyses
Days Sales in Receivable
Account Receivable Turnover
Account Receivable Turnover in Days
Days Sales in Inventory
Invnetory TurnOver
Invnetory TurnOver in Days
Operationg Cycle
Working Capital
Current Ratio
Acid-Test Ratio
Cash Ratio
Sales to Working Capital Ratio
2013 VS 2012 2012 VS 2011 2011
% % %
11.94 6.98 100.00
0.47 7.90 100.00
(13.96) 49.03 100.00
0.30 (1.11) 100.00
6.45 21.38 100.00
11.95 9.12 100.00
166.86 (48.95) 100.00
(58.91) 1.74 100.00
(98.39) 136.01 100.00
27.49 2.79 100.00
8.27 10.35 100.00
12.18 20.94 100.00
(13.46) (10.06) 100.00
- - 100.00
25.28 (8.85) 100.00
(46.60) 46.10 100.00
11.97 20.75 100.00
9.62 13.92 100.00
15.00 15.00 100.00
21.96 17.61 100.00
21.04 17.25 100.00
- - 100.00
18.71 12.47 100.00
20.76 16.66 100.00
(4.72) 13.03 100.00
- (100.00) 100.00
Annalysis of Balance Sheet
Horizental Annalysis
- - 100.00
- (100.00) 100.00
- - 100.00
(4.72) 10.59 100.00
9.58 13.92 100.00
2013 VS 2012 2012 Vs 2011 2011
% % %
111.35 116.88 100.00
109.68 117.14 100.00
132.54 113.75 100.00
Annalysis of Profit and Loss Account and Cash Flow
Statements
Horizental Annalysis
124.93 118.45 100.00
115.44 108.02 100.00
117.57 91.69 100.00
162.56 106.90 100.00
135.89 108.50 100.00
83.01 12.53 100.00
136.27 114.85 100.00
144.21 101.95 100.00
133.53 120.10 100.00
28.37 (19.89) 100.00
(1.41) 82.28 100.00
(5.66) (53.52) 100.00
912.50 (87.00) 100.00
Formula
2013 2012 2011 Remaks
Gross Receivables/Net Sales(365)
4.439 5.745 4.505
Net Sales/Avg. Gross Receivables
76.056 76.047
Avg. Gross Receivables/Net Sales(365)
4.799 4.800
Ending Inventory/Cost of Goods Sold(365) (20.509) (22.389) (24.305)
Cost of Goods Sold/Average Inventory (17.839) (16.923)
Average Inventory/Cost of Goods Sold(365) (20.461) (21.569)
(15.662) (16.769)
Current Assets - Current Liabilities 2,969,854 2,166,072 1,972,270
Current Assets/Current Liabilities 1.648 1.450 1.453
(cash + Securities + Stoke)/Current Liabilities 1.428 1.200 1.249
(cash + Securities)/Current Liabilities 0.955 0.750 0.788
Sales/Avg Working Capital 16.48203 18.370573 32.978648
Accaount Receivable Turnover in Days + Invnetory
TurnOver in Days
1
)
B
r
a
c
e
s

a
r
e

d
u
e

t
o

n
e
q
a
t
i
v
e

s
i
g
n

o
f

C
G
S
.
2
)
2
0
1
1

o
p
e
n
i
n
g

i
n
v
e
n
t
o
r
i
e
s

a
r
e

n
o
t

t
r
e
a
t
e
d
.
(18.000)
(17.800)
(17.600)
(17.400)
(17.200)
(17.000)
(16.800)
(16.600)
(16.400)
2013 2012
Invnetory TurnOver
Invnetory TurnOver
(20.400)
(20.200)
(20.000)
(19.800)
2013 2012
Invnetory TurnOver in Days
(21.800)
(21.600)
(21.400)
(21.200)
(21.000)
(20.800)
(20.600)
(20.400)
(20.200)
Invnetory
TurnOver in Days
-
1.000
2.000
3.000
4.000
5.000
6.000
7.000
2013 2012 2011
Days Sales in Receivable
Days Sales in Receivable
76.040
76.042
76.044
76.046
76.048
76.050
76.052
76.054
76.056
76.058
2013 2012
Account Receivable Turnover
Account Receivable
Turnover
(15.600)
(15.400)
(15.200)
(15.000)
2013 2012
Operating Cycle
(17.000)
(16.800)
(16.600)
(16.400)
(16.200)
(16.000)
(15.800)
(15.600)
Operating Cycle
4.799
4.799
4.799
4.799
4.800
4.800
2013 2012
Account Receivable Turnover in Days
Series2
(23.000)
(22.500)
(22.000)
(21.500)
(21.000)
(20.500)
(20.000)
(19.500)
2013 2012
Days Sales in Inventory
Days Sales in Inventory
2,500,000
3,000,000
3,500,000
Working Capital
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
2013 2012 2011
Working Capital
1.350
1.400
1.450
1.500
1.550
1.600
1.650
1.700
4.439 5.745 4.505
2013 2012 2011
Current Ratio
Current Ratio
1.050
1.100
1.150
1.200
1.250
1.300
1.350
1.400
1.450
2013 2012 2011
Acid-Test Ratio
Acid-Test Ratio
0.800
1.000
1.200
Cash Ratio
-
0.200
0.400
0.600
0.800
2013 2012 2011
Cash Ratio
Particulers 2013 2012 2011
ASSETS
Current Asset
Stores,spares and loose tools 390,250 348,639 325,891
Stock in trade 2,171,536 2,161,328 2,003,029
Trade debts 514,742 598,265 401,435
Loans and advances 33,253 33,152 33,525
trade deposits and prepayments 47,722 44,832 36,936
Short term investments 1,635,183 1,460,580 1,338,474
Accrued mark-up/interest 11,603 4,348 8,517
Other receivables 6,302 15,338 15,075
Taxation-net 2,578 160,604 68,050
Bank balances 2,739,988 2,149,154 2,090,800
Total Current Assets 7,553,157 6,976,240 6,321,732
Non Current Assets
Property, plant and equipment 4,421,744 3,941,610 3,259,193
Intengible Asset 5,555 6,419 7,137
Long term investment - - -
Long term loans and advanes 25,583 20,420 22,403
Long term deposits and prepayments 8,399 15,728 10,765
Total Non current assets 4,461,281 3,984,177 3,299,498
Total Assets 12,014,438 10,960,417 9,621,230
Equities and liabilities
Share capital and Reserves
Share capital 827,253 719,350 625,522
Reserves 5,732,904 4,700,584 3,996,892
Total share capital and Reserves 6,560,157 5,419,934 4,622,414
Non current Liabilities
Long term Borrowings 0 0 0
Deferred liabilities 866,975 730,315 649,354
Total Non Current Liabilities 7,427,132 6,150,249 5,271,768
Current Liabilities
Trade and other payables 4,583,303 4,810,168 4,255,584
Accrued mark-up/interest - - 6,378
Short term finances - - -
Honda Atlas
Balance Sheet
.Rupees in '000.
Current portionof long term liabilities - - 87,500
Provision for taxation - - -
Total Current Liabilites 4,583,303 4,810,168 4,349,462
Total Equity and Liabilities 12,010,435 10,960,417 9,621,230
Particulers
ASSETS 2013 2012 2011
Current Asset % % %
Stores,spares and loose tools 3.25 3.18 3.39
Stock in trade 18.07 19.72 20.82
Trade debts 4.28 5.46 4.17
Loans and advances 0.28 0.30 0.35
trade deposits and prepayments 0.40 0.41 0.38
Short term investments 13.61 13.33 13.91
Accrued mark-up/interest 0.10 0.04 0.09
Other receivables 0.05 0.14 0.16
Taxation-net 0.02 1.47 0.71
Bank balances 22.81 19.61 21.73
Total Current Assets 62.87 63.65 65.71
Non Current Assets
Property, plant and equipment 36.80 35.96 33.88
Intengible Asset 0.05 0.06 0.07
Long term investment - - -
Long term loans and advanes 0.21 0.19 0.23
Long term deposits and prepayments 0.07 0.14 0.11
Total Non current assets 37.13 36.35 34.29
Total Assets 100.00 100.00 100.00
Equities and liabilities
Share capital and Reserves
Share capital 6.89 6.56 6.50
Reserves 47.73 42.89 41.54
Total share capital and Reserves 54.62 49.45 48.04
Non current Liabilities
Long term Borrowings - - -
Deferred liabilities 7.22 6.66 6.75
Total Non Current Liabilities 61.84 56.11 54.79
Current Liabilities
Trade and other payables 38.16 43.89 44.23
Accrued mark-up/interest - - 0.07
Annalysis of Balance Sheet
Vertical Annalysis
Short term finances - - -
Current portionof long term liabilities - - 0.91
Provision for taxation - - -
Total Current Liabilites 38.16 43.89 45.21
Total Equity and Liabilities 100.00 100.00 100.00
Particulers 2013 2012 2011
Sales 42,325,242 38,011,857 32,521,399
Cost of Sales (38,646,049) (35,235,893) (30,080,978)
Gross Profit 3,679,193 2,775,964 2,440,421
Sales and Marketing Expenses (1,206,648) (965,883) (815,463)
Administrative expenses (387,477) (335,654) (310,742)
Other Oprating Income 322,668 274,453 299,337
Other Oprating Expenses (190,453) (117,162) (109,597)
Profit from Oprations 2,217,283 1,631,718 1,503,956
Finance Cost (9,726) (11,717) (93,475)
Net Profit before taxation 2,207,557 1,620,001 1,410,481
Taxation (599,753) (415,892) (407,925)
Net Profit after taxation 1,607,804 1,204,109 1,002,556
Cash Flow from Oprating activities 2,208,740 1,720,597 2,147,882
Cash flow from Investing activities (1,154,675) (1,171,217) (642,540)
Cash flow from financing activities (463,231) (491,026) (1,056,505)
Net Increase/(Decrease) in Cash 590,834 58,354 448,837
Particulers
Profit and Loss Account 2013 2012 2011
% % %
Sales 100.00 100.00 100.00
Cost of Sales (91.31) (92.70) (92.50)
Gross Profit 8.69 7.30 7.50
Sales and Marketing Expenses (2.85) (2.54) (2.51)
Administrative expenses (0.92) (0.88) (0.96)
Other Oprating Income 0.76 0.72 0.92
Other Oprating Expenses (0.45) (0.31) (0.34)
Profit from Oprations 5.24 4.29 4.62
Vertical Annalysis
Profit and Loss Account and Cash
Rupees in Thousands.
Profit and Loss Account
Cash Flow Statements
Annalysis of Profit and Loss Account and Cash Flow
Finance Cost (0.02) (0.03) (0.29)
Net Profit before taxation 5.22 4.26 4.34
Taxation (1.42) (1.09) (1.25)
Net Profit after taxation 3.80 3.17 3.08
Cash Flow Statements
Cash Flow from Oprating activities 373.83 2,948.55 478.54
Cash flow from Investing activities (195.43) (2,007.09) (143.16)
Cash flow from financing activities (78.40) (841.46) (235.39)
Net Increase/(Decrease) in Cash 100.00 100.00 100.00
PayAbility Analyses
Debt ratio
Debt to equity ratio
Debt to comon equity ratio
Debt to tangiable net worth
Times interst earned
Fixed charged coverage ratio
2013 VS 2012 2012 VS 2011 2011
% % %
11.94 6.98 100.00
0.47 7.90 100.00
(13.96) 49.03 100.00
0.30 (1.11) 100.00
6.45 21.38 100.00
11.95 9.12 100.00
166.86 (48.95) 100.00
(58.91) 1.74 100.00
(98.39) 136.01 100.00
27.49 2.79 100.00
8.27 10.35 100.00
12.18 20.94 100.00
(13.46) (10.06) 100.00
- - 100.00
25.28 (8.85) 100.00
(46.60) 46.10 100.00
11.97 20.75 100.00
9.62 13.92 100.00
15.00 15.00 100.00
21.96 17.61 100.00
21.04 17.25 100.00
- - 100.00
18.71 12.47 100.00
20.76 16.66 100.00
(4.72) 13.03 100.00
- (100.00) 100.00
Annalysis of Balance Sheet
Horizental Annalysis
- - 100.00
- (100.00) 100.00
- - 100.00
(4.72) 10.59 100.00
9.58 13.92 100.00
2013 VS 2012 2012 Vs 2011 2011
% % %
111.35 116.88 100.00
109.68 117.14 100.00
132.54 113.75 100.00
124.93 118.45 100.00
115.44 108.02 100.00
117.57 91.69 100.00
162.56 106.90 100.00
135.89 108.50 100.00
Horizental Annalysis
Annalysis of Profit and Loss Account and Cash Flow
83.01 12.53 100.00
136.27 114.85 100.00
144.21 101.95 100.00
133.53 120.10 100.00
28.37 (19.89) 100.00
(1.41) 82.28 100.00
(5.66) (53.52) 100.00
912.50 (87.00) 100.00
Formula
2013 2012 2011 Remaks
total debt/total assets*100 45.3644 50.54993 51.9561
total debt/total equity*100 183.08 202.22 208.14
total debt/comon share equity*100 183.08 202.22 208.14
total debt/(total equity-intangible assets)*100 296.55 316.07 322.69
-227.9748 -139.2607 -16.08939
Recurring Earnings, Excluding Interest Expense,
Tax Expense, Equity Earning, and Minority
Earnings/Interest Expense, Including capitalized interst
no asset is seamed to be on lease so times interst earned and fixed charge coverage will be taken as same
1
)
N
e
g
a
t
i
v
e

S
i
g
n

i
s

d
u
e

t
o

n
e
q
a
t
i
v
e

s
i
g
n

o
f

C
G
S
.
Intrepretaions
the analyses shows that company was batter enable to pay
its debts in latter years, as it laid off much of its debt
major decrease in debt is explicit
too much investment have been done through debt
Particulers 2013 2012 2011
ASSETS
Current Asset
Stores,spares and loose tools 390,250 348,639 325,891
Stock in trade 2,171,536 2,161,328 2,003,029
Trade debts 514,742 598,265 401,435
Loans and advances 33,253 33,152 33,525
trade deposits and prepayments 47,722 44,832 36,936
Short term investments 1,635,183 1,460,580 1,338,474
Accrued mark-up/interest 11,603 4,348 8,517
Other receivables 6,302 15,338 15,075
Taxation-net 2,578 160,604 68,050
Bank balances 2,739,988 2,149,154 2,090,800
Total Current Assets 7,553,157 6,976,240 6,321,732
Non Current Assets
Property, plant and equipment 4,421,744 3,941,610 3,259,193
Intengible Asset 5,555 6,419 7,137
Long term investment - - -
Long term loans and advanes 25,583 20,420 22,403
Long term deposits and prepayments 8,399 15,728 10,765
Total Non current assets 4,461,281 3,984,177 3,299,498
Total Assets 12,014,438 10,960,417 9,621,230
Equities and liabilities
Share capital and Reserves
Share capital 827,253 719,350 625,522
Reserves 5,732,904 4,700,584 3,996,892
Total share capital and Reserves 6,560,157 5,419,934 4,622,414
Non current Liabilities
Long term Borrowings 0 0 0
Deferred liabilities 866,975 730,315 649,354
Total Non Current Liabilities 7,427,132 6,150,249 5,271,768
Current Liabilities
Trade and other payables 4,583,303 4,810,168 4,255,584
Accrued mark-up/interest - - 6,378
Short term finances - - -
Honda Atlas
Balance Sheet
.Rupees in '000.
Current portionof long term liabilities - - 87,500
Provision for taxation - - -
Total Current Liabilites 4,583,303 4,810,168 4,349,462
Total Equity and Liabilities 12,010,435 10,960,417 9,621,230
Particulers
ASSETS 2013 2012 2011
Current Asset % % %
Stores,spares and loose tools 3.25 3.18 3.39
Stock in trade 18.07 19.72 20.82
Trade debts 4.28 5.46 4.17
Loans and advances 0.28 0.30 0.35
trade deposits and prepayments 0.40 0.41 0.38
Short term investments 13.61 13.33 13.91
Accrued mark-up/interest 0.10 0.04 0.09
Other receivables 0.05 0.14 0.16
Taxation-net 0.02 1.47 0.71
Bank balances 22.81 19.61 21.73
Total Current Assets 62.87 63.65 65.71
Non Current Assets
Property, plant and equipment 36.80 35.96 33.88
Intengible Asset 0.05 0.06 0.07
Long term investment - - -
Long term loans and advanes 0.21 0.19 0.23
Long term deposits and prepayments 0.07 0.14 0.11
Total Non current assets 37.13 36.35 34.29
Total Assets 100.00 100.00 100.00
Equities and liabilities
Share capital and Reserves
Share capital 6.89 6.56 6.50
Reserves 47.73 42.89 41.54
Total share capital and Reserves 54.62 49.45 48.04
Non current Liabilities
Long term Borrowings - - -
Deferred liabilities 7.22 6.66 6.75
Total Non Current Liabilities 61.84 56.11 54.79
Current Liabilities
Trade and other payables 38.16 43.89 44.23
Accrued mark-up/interest - - 0.07
Annalysis of Balance Sheet
Vertical Annalysis
Short term finances - - -
Current portionof long term liabilities - - 0.91
Provision for taxation - - -
Total Current Liabilites 38.16 43.89 45.21
Total Equity and Liabilities 100.00 100.00 100.00
Particulers 2013 2012 2011
Sales 42,325,242 38,011,857 32,521,399
Cost of Sales (38,646,049) (35,235,893) (30,080,978)
Gross Profit 3,679,193 2,775,964 2,440,421
Sales and Marketing Expenses (1,206,648) (965,883) (815,463)
Administrative expenses (387,477) (335,654) (310,742)
Other Oprating Income 322,668 274,453 299,337
Other Oprating Expenses (190,453) (117,162) (109,597)
Profit from Oprations 2,217,283 1,631,718 1,503,956
Finance Cost (9,726) (11,717) (93,475)
Net Profit before taxation 2,207,557 1,620,001 1,410,481
Taxation (599,753) (415,892) (407,925)
Net Profit after taxation 1,607,804 1,204,109 1,002,556
Cash Flow from Oprating activities 2,208,740 1,720,597 2,147,882
Cash flow from Investing activities (1,154,675) (1,171,217) (642,540)
Cash flow from financing activities (463,231) (491,026) (1,056,505)
Net Increase/(Decrease) in Cash 590,834 58,354 448,837
Particulers
Profit and Loss Account 2013 2012 2011
% % %
Sales 100.00 100.00 100.00
Cost of Sales (91.31) (92.70) (92.50)
Gross Profit 8.69 7.30 7.50
Sales and Marketing Expenses (2.85) (2.54) (2.51)
Administrative expenses (0.92) (0.88) (0.96)
Other Oprating Income 0.76 0.72 0.92
Other Oprating Expenses (0.45) (0.31) (0.34)
Profit from Oprations 5.24 4.29 4.62
Rupees in Thousands.
Profit and Loss Account
Cash Flow Statements
Annalysis of Profit and Loss Account and Cash Flow
Vertical Annalysis
Profit and Loss Account and Cash
Finance Cost (0.02) (0.03) (0.29)
Net Profit before taxation 5.22 4.26 4.34
Taxation (1.42) (1.09) (1.25)
Net Profit after taxation 3.80 3.17 3.08
Cash Flow Statements
Cash Flow from Oprating activities 373.83 2,948.55 478.54
Cash flow from Investing activities (195.43) (2,007.09) (143.16)
Cash flow from financing activities (78.40) (841.46) (235.39)
Net Increase/(Decrease) in Cash 100.00 100.00 100.00
Profitability Analyses
Net Profit Margin
Asset Turnover
Return on Assets
_Dopont
Return on Common Equity
Operating Income Margin
Return on Operating Income
Operating Asset TurnOver
_Dopont
Gross Profit Margin
Return on Equity
Return on Investment
2013 VS 2012 2012 VS 2011 2011
% % %
11.94 6.98 100.00
0.47 7.90 100.00
(13.96) 49.03 100.00
0.30 (1.11) 100.00
6.45 21.38 100.00
11.95 9.12 100.00
166.86 (48.95) 100.00
(58.91) 1.74 100.00
(98.39) 136.01 100.00
27.49 2.79 100.00
8.27 10.35 100.00
12.18 20.94 100.00
(13.46) (10.06) 100.00
- - 100.00
25.28 (8.85) 100.00
(46.60) 46.10 100.00
11.97 20.75 100.00
9.62 13.92 100.00
15.00 15.00 100.00
21.96 17.61 100.00
21.04 17.25 100.00
- - 100.00
18.71 12.47 100.00
20.76 16.66 100.00
(4.72) 13.03 100.00
- (100.00) 100.00
Annalysis of Balance Sheet
Horizental Annalysis
- - 100.00
- (100.00) 100.00
- - 100.00
(4.72) 10.59 100.00
9.58 13.92 100.00
2013 VS 2012 2012 Vs 2011 2011
% % %
111.35 116.88 100.00
109.68 117.14 100.00
132.54 113.75 100.00
124.93 118.45 100.00
115.44 108.02 100.00
117.57 91.69 100.00
162.56 106.90 100.00
135.89 108.50 100.00
Annalysis of Profit and Loss Account and Cash Flow
Horizental Annalysis
83.01 12.53 100.00
136.27 114.85 100.00
144.21 101.95 100.00
133.53 120.10 100.00
28.37 (19.89) 100.00
(1.41) 82.28 100.00
(5.66) (53.52) 100.00
912.50 (87.00) 100.00
Formula
2013 2012 2011
Net Income/Sales*100 3.798688263 3.167719 3.082758
Sales/Averager Assets 3.684483928 3.693762
Net Income/Average Assets*100 13.99620585 11.7008
Net Profit Margin*Asset TurnOver 13.99620585 11.7008
Net Income/Equity*100 24.50862075 22.2163 21.68901
operating income/sales*100 5.238677667 4.292655 4.624512
operating income/average operating assets*100 19.37104894 15.92015
Sales/average operating assets 3.697698193 3.481625
operating income*operating turnover 19.37104894 14.94542 0
G.P/Sales*100 8.69266855 7.30289 7.504047
Net Income Before Non recurring Items Dividend on
Redeemable Preferred stock)*100
24.50862075 22.2163
Net Incom Before Minorities Share of Earnings and Non
recurring items + [(Interest Expense)*1-Tax Rate)]
21.70 19.66 19.78
21.68901
Remaks Intrepretaions
1
)
2
0
1
1

R
e
t
u
r
n
s

a
r
e

n
o
t

o
p
e
r
a
t
e
d

d
u
e

t
o

u
n
a
v
a
i
l
a
b
l
i
t
y

o
f

d
a
t
a

o
f

2
0
1
0
the profotability analyses shows
that all the operating performance
of the company went towards
betterment in all aspects
Dopunt analyses illustraties lack of
certain descrepencies in the
operations of the firm
2
)
n
o

p
r
e
f
f
e
r
e
d

s
t
o
c
k

h
a
v
e

b
e
e
n

i
s
s
u
e
d
one reason for increased return on
equity might be only due to mere
decrease in debt
Tax Rate is supposed to be 57%
Analysis of Financial Statement (Balance Sheet)
Particulers 2013
ASSETS
Current Asset
Stores,spares and loose tools 390,250
Stock in trade 2,171,536
Trade debts 514,742
Loans and advances 33,253
trade deposits and prepayments 47,722
Short term investments 1,635,183
Accrued mark-up/interest 11,603
Other receivables 6,302
Taxation-net 2,578
Bank balances 2,739,988
Total Current Assets 7,553,157
Non Current Assets
Property, plant and equipment 4,421,744
Intengible Asset 5,555
Long term investment -
Long term loans and advanes 25,583
Long term deposits and prepayments 8,399
Total Non current assets 4,461,281
Total Assets 12,014,438
Equities and liabilities
Share capital and Reserves
Share capital 827,253
Reserves 5,732,904
Total share capital and Reserves 6,560,157
Non current Liabilities
Long term Borrowings 0
Deferred liabilities 866,975
Total Non Current Liabilities 7,427,132
Current Liabilities
Trade and other payables 4,583,303
Accrued mark-up/interest -
Short term finances -
Honda Atlas
.Rupees in '000.
Current portionof long term liabilities -
Provision for taxation -
Total Current Liabilites 4,583,303
Total Equity and Liabilities 12,010,435
Annalysis of Finacial Statements(Balance Sheet)
Particulers
ASSETS 2013
Current Asset %
Stores,spares and loose tools 3.25
Stock in trade 18.07
Trade debts 4.28
Loans and advances 0.28
trade deposits and prepayments 0.40
Short term investments 13.61
Accrued mark-up/interest 0.10
Other receivables 0.05
Taxation-net 0.02
Bank balances 22.81
Total Current Assets 62.87
Non Current Assets
Property, plant and equipment 36.80
Intengible Asset 0.05
Long term investment -
Long term loans and advanes 0.21
Long term deposits and prepayments 0.07
Total Non current assets 37.13
Total Assets 100.00
Equities and liabilities
Share capital and Reserves
Share capital 6.89
Reserves 47.73
Total share capital and Reserves 54.62
Non current Liabilities
Long term Borrowings -
Deferred liabilities 7.22
Total Non Current Liabilities 61.84
Current Liabilities
Vertical Annalysis
Trade and other payables 38.16
Accrued mark-up/interest -
Short term finances -
Current portionof long term liabilities -
Provision for taxation -
Total Current Liabilites 38.16
Total Equity and Liabilities 100.00
Analysis of th Financial Statemets
Profit and Loss Account and Cash Flow Statements
Particulers 2013
Profit and Loss Account
Sales 42,325,242
Cost of Sales (38,646,049)
Gross Profit 3,679,193
Sales and Marketing Expenses (1,206,648)
Administrative expenses (387,477)
Other Oprating Income 322,668
Other Oprating Expenses (190,453)
Profit from Oprations 2,217,283
Finance Cost (9,726)
Net Profit before taxation 2,207,557
Taxation (599,753)
Net Profit after taxation 1,607,804
Cash Flow Statements
Cash Flow from Oprating activities 2,208,740
Cash flow from Investing activities (1,154,675)
Cash flow from financing activities (463,231)
Net Increase/(Decrease) in Cash 590,834
Annalysis of Finacial Statements
Profit and Loss and Cash Flow Statements
Rupees in Thousands.
Particulers
Profit and Loss Account 2013
%
Sales 100.00
Cost of Sales (91.31)
Gross Profit 8.69
Sales and Marketing Expenses (2.85)
Administrative expenses (0.92)
Other Oprating Income 0.76
Other Oprating Expenses (0.45)
Profit from Oprations 5.24
Finance Cost (0.02)
Net Profit before taxation 5.22
Taxation (1.42)
Net Profit after taxation 3.80
Cash Flow Statements
Cash Flow from Oprating activities 373.83
Cash flow from Investing activities (195.43)
Cash flow from financing activities (78.40)
Net Increase/(Decrease) in Cash 100.00
CHAPTER # 9
Supposed Data To Solve Chpter'S Practices:
2013
1.08 $
0.80 $
12.94 $
Income Before Intrest and Tax 22,170,000.00 $
Intrest Amount 175,000.00 $
Income Before Tax 21,995,000.00 $
Weighted Average share outstanding 9,000,000.00 $
25,380,000,300
1,264,086,000.00 $
823,758,000.00 $
16,600,000.00 $
4,567,000.00 $
32,094,000.00 $
Total Liabilities
Vertical Annalysis
Earning per shar
Cash dividend per common Share
Market price per common Share
Common Share Outstanding
Total Asset
Nonredeemable Preferred Stock
Preferred Dividends
Net Income
1 Digree of Financial Leverage = Earining Before Intrest and Tax / Earning Before Tax
2 Earning per Share = Net Income - Preferred Dividends/Weighted average number of share outstanding
3 Price/Earning Ratio = Market Price per Share / Diluted Earning per Share, Before Nonrecurring Items
4 Percentage of Earning Retained = Net Income Before Nonrecurring Items - All Dividends / Net Income Before Nonrecurring Items
5 Dividend Payout = Dividend per Common Share / Diluted Earning per share Before Nonrecurring Items
6 Dividend Yield = Dividend per common Share / Market Price per common Share
7 Book Value per Share = Total Share Holder Equity - Preferred Stock Equity / Number of Common Share Outstanding
CHAPTER NO 10
2013
Oprating Cash Flow 1736.1
Total Debt 4556.5
Current Maturities of long term debt and N/P 374.9
Diluted Weighted Average Common Shares Out 490.7
Preferred Dividends 55
Cash Dividends 466.7
1 Oprating Cash Flow/ Current Maturities of Long-Term Debt =
4.63
2 Oprating Cash Flow/ Total Debt = Oprating Cash Flow / Total Debts
38.10%
3 Oprating Cash Flow Per Share = Oprating Cash Flow - Preferred Dividends / Diluted Weighted Average Common Shares Outstanding
3.43 $
4 Oprating Cash Flow / Cash Dividends = Oprating Cash Flow / Cash Dividends
1.0080
3.06 $
11.98 $
79.40%
74.07%
6.18%
0.02 $
3.72
Analysis of Financial Statement (Balance Sheet)
2012 2011
348,639 325,891
2,161,328 2,003,029
598,265 401,435
33,152 33,525
44,832 36,936
1,460,580 1,338,474
4,348 8,517
15,338 15,075
160,604 68,050
2,149,154 2,090,800
6,976,240 6,321,732
3,941,610 3,259,193
6,419 7,137
- -
20,420 22,403
15,728 10,765
3,984,177 3,299,498
10,960,417 9,621,230
719,350 625,522
4,700,584 3,996,892
5,419,934 4,622,414
0 0
730,315 649,354
6,150,249 5,271,768
4,810,168 4,255,584
- 6,378
- -
Honda Atlas
.Rupees in '000.
- 87,500
- -
4,810,168 4,349,462
10,960,417 9,621,230
Annalysis of Finacial Statements(Balance Sheet)
2012 2011 2013 VS 2012 2012 VS 2011
% % % %
3.18 3.39 11.94 6.98
19.72 20.82 0.47 7.90
5.46 4.17 (13.96) 49.03
0.30 0.35 0.30 (1.11)
0.41 0.38 6.45 21.38
13.33 13.91 11.95 9.12
0.04 0.09 166.86 (48.95)
0.14 0.16 (58.91) 1.74
1.47 0.71 (98.39) 136.01
19.61 21.73 27.49 2.79
63.65 65.71 8.27 10.35
35.96 33.88 12.18 20.94
0.06 0.07 (13.46) (10.06)
- - - -
0.19 0.23 25.28 (8.85)
0.14 0.11 (46.60) 46.10
36.35 34.29 11.97 20.75
100.00 100.00 9.62 13.92
6.56 6.50 15.00 15.00
42.89 41.54 21.96 17.61
49.45 48.04 21.04 17.25
- - - -
6.66 6.75 18.71 12.47
56.11 54.79 20.76 16.66
Vertical Annalysis Horizental Annalysis
43.89 44.23 (4.72) 13.03
- 0.07 - (100.00)
- - - -
- 0.91 - (100.00)
- - - -
43.89 45.21 (4.72) 10.59
100.00 100.00 9.58 13.92
Analysis of th Financial Statemets
Profit and Loss Account and Cash Flow Statements
2012 2011
38,011,857 32,521,399
(35,235,893) (30,080,978)
2,775,964 2,440,421
(965,883) (815,463)
(335,654) (310,742)
274,453 299,337
(117,162) (109,597)
1,631,718 1,503,956
(11,717) (93,475)
1,620,001 1,410,481
(415,892) (407,925)
1,204,109 1,002,556
1,720,597 2,147,882
(1,171,217) (642,540)
(491,026) (1,056,505)
58,354 448,837
Annalysis of Finacial Statements
Profit and Loss and Cash Flow Statements
Rupees in Thousands.
2012 2011 2013 VS 2012 2012 Vs 2011
% % % %
100.00 100.00 111.35 116.88
(92.70) (92.50) 109.68 117.14
7.30 7.50 132.54 113.75
(2.54) (2.51) 124.93 118.45
(0.88) (0.96) 115.44 108.02
0.72 0.92 117.57 91.69
(0.31) (0.34) 162.56 106.90
4.29 4.62 135.89 108.50
(0.03) (0.29) 83.01 12.53
4.26 4.34 136.27 114.85
(1.09) (1.25) 144.21 101.95
3.17 3.08 133.53 120.10
2,948.55 478.54 28.37 (19.89)
(2,007.09) (143.16) (1.41) 82.28
(841.46) (235.39) (5.66) (53.52)
100.00 100.00 912.50 (87.00)
CHAPTER # 9
Supposed Data To Solve Chpter'S Practices:
2012 2011
1.14 $ 1.19 $
0.76 $ 0.72 $
15.19 $ 20.00 $
20,341,500.00 $ 19,456,700.00 $
165,000.00 $ 160,000.00 $
20,176,500.00 $ 19,296,700.00 $
8,000,000.00 $ 5,000,000.00 $
25,316,000 25,310,500
1,172,924,000.00 $ 1,050,424,700.00 $
742,499,000.00 $ 645,100,500.00 $
16,600,000.00 $ 15,520,200.00 $
930,000.00 $ 673,800.00 $
31,049,000.00 $ 28,050,000.00 $
Vertical Annalysis Horizental Annalysis
Earining Before Intrest and Tax / Earning Before Tax
Net Income - Preferred Dividends/Weighted average number of share outstanding
Market Price per Share / Diluted Earning per Share, Before Nonrecurring Items
Net Income Before Nonrecurring Items - All Dividends / Net Income Before Nonrecurring Items
Dividend per Common Share / Diluted Earning per share Before Nonrecurring Items
Dividend per common Share / Market Price per common Share
Total Share Holder Equity - Preferred Stock Equity / Number of Common Share Outstanding
CHAPTER NO 10
2012 2011
1936.3 2213.8
4617.4 4755.8
184 312.6
504.1 701.2
202 540
412.9 634.2
Oprating Cash Flow/ Current Maturities of Long-Term Debts and Current Notes Payable
10.52 7.08
Oprating Cash Flow / Total Debts
41.93% 46.55%
Oprating Cash Flow - Preferred Dividends / Diluted Weighted Average Common Shares Outstanding
3.44 $ 2.39 $
Oprating Cash Flow / Cash Dividends
1.0083
3.76 $ 5.48 $
13.32 $ 16.81 $
1.0082
95.43% 96.54%
66.67% 60.50%
5.00% 3.60%
16.97 $ 15.99 $
4.69 3.49
Honda Atlas
2011
%
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
Horizental Annalysis
100.00
100.00
100.00
100.00
100.00
100.00
100.00
2011
%
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
Horizental Annalysis