Vous êtes sur la page 1sur 496

FINANCIAL STATEMENTS ANALYSIS

OF
COMPANIES (NON-FINANCIAL)
LISTED AT KARACHI STOCK EXCHANGE

(2008-2013)

STATE BANK OF PAKISTAN


STATISTICS & DWH DEPARTMENT

Team Leader
Shamsul Arifeen

Sr. Joint Director


shamsul.arifeen@sbp.org.pk

Team Members

Zia-ul-Qamar

Joint Director
ziaulqamar@sbp.org.pk

Azam Ali

Joint Director
Azam.Ali@sbp.org.pk

Uzma Maqsood

Assistant Director
Uzma.Maqsood@sbp.org.pk

Faisal Altaf

Assistant Director
Faisal.Altaf@sbp.org.pk

Haider Ali

Assistant Director
Haider.Ali@sbp.org.pk

Faiza Noreen

Assistant Director
Faiza.Noreen@sbp.org.pk

Contents
Page
Preface

Introduction

ii

i) Methodology

iii

ii) Concepts & Definitions

iii-xiv

iii) Performance Indicators

xiv-xvii

Executive Summary

xviii-xxii

Analytical Tables
I. Sectors
(a) Overall

1-2

(b) Private

3-4

(c) Public

5-6

II. Economic Groups


1. Textile
(i) Spinning, Weaving, Finishing of Textiles

8-9
11-148

(ii) Made-up Textile Articles

150-157

(iii) Other Textiles n.e.s.

159-171

2. Food

173-174

(i) Sugar

176-208

(ii) Other Food Products n.e.s.

210-228

3. Chemicals, Chemical Products & Pharmaceuticals

230-275

4. Other Manufacturing n.e.s.

277-310

5. Other Non-Metallic Mineral Products - Overall

312-313

(i) Mineral Products

315-324

(ii) Cement

326-347

6. Motor Vehicles, Trailers and Autoparts

349-372

7. Fuel & Energy

374-394

8. Information, Comm. and Transport Services

396-410

9. Coke & Refined Petroleum Products

412-422

10.Paper, Paperboard and Products

424-434

11.Electrical Machinery and Apparatus

436-445

12.Other Services Activities

447-459

III. Appendix:1

461-466

Appendix:2

467-468

Explanatory Notes

469

Preface
The Non-financial Corporate Sector is an important segment of a countrys economy and a sound, stable and robust
industrial base is therefore essential for economic well being of a country and its populace.
Non-financial Corporate sector in Pakistan represents a diversified nature of businesses including Textile, Food,
Chemicals & Pharmaceuticals, Other manufacturing n.e.s., Other Non-metallic mineral products, Motor
Vehicles/Trailers and auto parts, Fuel & Energy, Information Communication and transport services, Coke &
petroleum products, Paper & paperboard products, Electrical machinery & apparatus & Other services. Disclosure
and transparency in information on business activities are of crucial importance to all stakeholders.
An overview of business and financial conditions of non-financial institutions presented in a structured manner is
published in form of financial statements. For large industrial concerns, the financial statements are often complex
and are prepared under international accounting standards. These statements usually include an extensive set of
notes to the financial statements. The notes typically describe each item on the balance sheet, income statement and
cash flow statement in further detail.
The stakeholders and users, on the other hand also require financial indicators that can provide information on how
well a company is performing and what will happen in future. Keeping in view the need of the users, the Statistics &
Data Warehouse Department has revamped the analysis of the financial statements of non-financial institutions. All
out efforts have been made to select useful and accurate data from financial statements and compute ratios that can
provide valuable clues about the financial health of the institutions. The analysis is now published in form of
publication namely, Financial Statements Analysis of Companies (Non-Financial) Listed at Karachi Stock
Exchange. The publication contains analysis of financial statements of Non-financial institutions for the period
2008-13.
It is hoped that the publication will provide a tool to researchers, policy makers and investors to understand the
performance of non-financial sector of Pakistan. Comments on the analysis and suggestions for further
improvements in the publication are highly welcome.

(Dr Azizullah Khattak)


Director
Statistics & DWH Department

Introduction
The analysis and format of this publication was revamped in the year 2010 to incorporate
changes in the regulations and culture of corporate sector. Analysis of last five years (2009,
2010, 2011, 2012 & 2013) is carried out on the new format. The information for 2008 is mapped
for publication. All listed companies on Karachi Stock Exchange (KSE) have been classified in
line with new economic categories. The year-wise distribution of companies by economic group
is as under: Table: 1 Distribution of companies by economic groups.
Economic Groups
1) Textiles
i) Spinning, weaving, finishing of textiles
ii) Made-up textile articles
iii) Other textiles n.e.s.

2) Food
i) Sugar
ii) Other food products n.e.s

3) Chemicals, chemical products and Pharmaceuticals


4) Other manufacturing n.e.s
5) Other non-metallic mineral products
i) Mineral products
ii) Cement

6) Motor vehicles, trailers and auto parts


7) Fuel & Energy
8) Information, Communication & transport Services
9) Coke and refined petroleum products
10) Paper, paperboard and products
11) Electrical machinery and apparatus
12) Other services activities
Total:

2012
155
138
6
11
50
32
18
43
31
28
8
20
22
19
13
9
9
8
10
397

2013
153
136
6
11
48
31
17
44
32
28
8
20
22
19
13
9
9
8
11
396

The sum of Assets and Liabilities of a company may exhibit minor differences due to rounding
off separate items. Ratios and percentages have been worked out after rounding off the figures in
thousands, which may, therefore, slightly differ from ratios calculated on the basis of exact
numbers in balance sheet. The symbol appearing in the analytical tables stand for Not
applicable or Not available.

ii

Methodology
Methodology is based on Ratio Analysis, a powerful tool to analyze the financial statements of any company.
Ratio analysis measures inter-relationship between different sections of the financial statements. Ratios are
taken as guides that are useful in evaluating a companys financial position and operation and making
comparison with results in previous years or with others in the same industry. The primary purpose of ratio
analysis is to point out areas needing further investigation. All the ratios are calculated from the following
financial statements and relevant notes to accounts.

Balance Sheet

Profit and Loss accounts

Statement of changes in Equity

Cash Flow Statement

Total shareholders equity is computed as the sum of ordinary share capital plus reserve and surplus plus unappropriated profit/ (loss) and the revaluation. Analysis of Non-Financial sector used the following concepts
and definitions as given below.

II Concepts and Definitions


A. Non-Current Assets
1. Capital work in progress:
Work in process consists of the unfinished products in a production process which are not yet complete but
either being fabricated or waiting in a queue or storage. They must be accounted for as funds (capital) that have
been invested for future enhancement in production.

2. Operating fixed assets:


These are owned by an enterprise engaged in production of items (directly or indirectly); which will be
available for sale. These are not readily convertible into cash during the course of normal operations of an
enterprise. These assets are not subject to periodical exchange through sales and purchases. Fixed assets are of
permanent nature and are not normally liquidated or intended to turn into cash except in the form of
depreciation, which is added to the cost of goods sold. The following balance sheet items are included in the
category of fixed assets: -

(a) Real Estate


(i)

Freehold and leasehold land

(ii)

Factory and office buildings

(iii) Residential buildings

iii

(iv) Capital projects in progress at cost

(b) Plant, Machinery and Rolling Stock


(i)

All types of plant and machinery used for production and not for sale

(ii) Crockery, cutlery, silverware and enamelware in hotels


(iii) Construction tools
(iv) Livestock in farming company
(v) Cars, lorries, trucks, ships, launches etc.
(vi) Railway siding and trolley lines
(vii) Computers and other electronic equipments

(c) Furniture, Fixtures, Fittings and Allied Equipment


(i) Electric fans, refrigerators, air conditioners, electric heating, sanitary and other fittings.
(ii)

Laboratory equipment

(iii) All types of office furnitures and equipment


(iv) Advertising, fixtures and fittings

3. Operating fixed assets after deducting accumulated depreciation


Deducting the accumulated depreciation from the operating fixed assets of the company gives this item.

4. Depreciation for the year


It includes all the depreciation charged to the profit and loss account. Owing to absence of uniform
accounting standards, depreciation is a subjective item and varies from company to company. It is important
for an analyst to know what effect such variation could have on the net profit.

5. Intangible Assets
Intangible assets are defined as identifiable assets that cannot be seen, touched or physically measured,
which are created through time and/or efforts and that are identifiable as a separate asset. The possible
items are:
(i)

Copyrights

(ii)

Patents

(iii)

Trademarks

(iv)

Goodwill

(v)

Exploration accounts

(vi)

Knowledge accounts

(vii)

Computer software accounts

iv

6. Long term investment


Investment is acquisition of financial, physical or technology based assets by an investor for their potential
future income, return, yield, profits, or capital gains. The long-term investments account differs largely
from the short-term investments account in that the short-term investments will most likely be sold,
whereas the long-term investments may never be sold. They may include:
(i)

Long-term stocks

(ii)

Long-term bonds

(iii)

Long-term investment in real estate

(iv)

Long-term Government and corporate securities

(v)

Long-term Savings and Unit Trust Certificates

(vi)

Long-term Debentures stock of local or foreign companies

7. Other Non- current assets


These include all residual non-current assets left from the above coverage, but remain in the balance sheet.
Possible items may be:
(i)

Deferred costs

(ii)

Long-term deposits

(iii)

Long- term loans and advances

(iv)

Security deposits

B. Current Assets:

1. Cash & bank balances


Cash & bank balances is an integral part of a company's overall operations. It consists of:
(i) Cash in hand
(ii) Cash in transit
(iii) Current deposits
(iv) Saving deposits
(v) Saving deposits and Call deposits
(vi) Deposits held abroad
2. Inventories
It comprises of stocks of raw material in hand, work in progress and finished goods at the closing date.

3. Trade debt
This refers to an entity from which amounts are due for goods sold or services rendered or in respect of
contractual obligations and also termed: debtor, trade debtor, and account receivable.

4. Short term investments


Unlike long term investments, short term investments have to be matured within the same accounting cycle. The basic
motive of such an investment is to earn profits or capital gains for short term period. They may include:
(i)

Short-term stocks

(ii)

Short -term bonds

(iii)

Short -term investment in real estate

(iv)

Short-term Government and corporate securities

(v)

Short-term Savings and Unit Trust Certificates

(vi)

Short-term Debentures stock of local or foreign companies

5. Other current assets


These are all remaining items of current assets left from the above coverage, but remained in the balance
sheet. These include:
(i)

Book debts including bad and doubtful debts

(ii)

Stores, spare parts and loose tools

(iii)

Loans and advances

(iv)

Work in progress(current)

(v)

Advances and prepayments etc.

(vi)

Balances due to tax department

(vii)

Tax refundable

(viii)

other receivables

C. Current Liabilities:
All liabilities, which are required to be discharged within one year, are termed as current liabilities.
Alternatively, these cover those obligations whose liquidation is expected to be made out of current assets.
They are usually incurred in the normal course of business and are required to be paid at fairly definite dates.

1. Short term secured loans


These are loans which are to be matured within the year and have been obtained against secured collaterals.
These consist of:
(i)

Current maturities of secured long term loan.

(ii)

Current maturities of redeemable capital finance

(iii)

Secured short term running finance.

(iv)

Current maturities of lease finance

(v)

Short term lease finance.

vi

2. Other current liabilities


These are all remaining items of current liabilities left from the above coverage, but remained in the
balance sheet. These include:

(a) Sundry Creditors


(i) For expenses
(ii) For other finance
(iii) Bills payable
(v) Advances from customers against orders

(b) Payment become due but outstanding


(i) Income tax payable
(ii) Proposed, unpaid and unclaimed dividends
(iii) Estimated liabilities in respect of outstanding claims whether due or intimated
(iv) Gratuities becoming payable
(v) Provident Fund becoming payable
(vi) Current installment and interest payable on fixed liabilities
(vii) Provision for taxation estimated on current profits
(viii) Workers profit participation fund

(c) Loans, Deposits and Advances


(i) Loans secured by stock or other current assets
(ii) Bank overdrafts and other unsecured loans
(iii) Short term loans acquired against the security of fixed assets
(iv) Unsecured loan from directors, parent company, and subordinate loan
(v)

Due to managing agents

(vi) Advances by directors


(vii) Guarantee and security deposits of customers and staff

D. Non-Current Liabilities:
1. Long-term secured loan
These are liabilities which are required to be discharged after a period of more than a year from the date of
balance sheet and are obtained on the basis of secured collaterals. These include:
(i)

Loans from financial institutions.

(ii) Loans from non bank financial institutions.


(iii) Loans from specialized financial institutions
(iv) Redeemable capital finance
(v) Foreign loans

vii

(vi) Vendors account

2.

Long-term unsecured loan

These are liabilities which are required to be discharged after a period of more than a year from the date of
balance sheet and are obtained without any secured collaterals. These include:
(i) Loan to various organizations by governments.
(ii) Loan to a company by directors
(iii) Long term loan by creditors
(iv) Long term loan by suppliers

3. Debentures/TFCs
These are bonds/certificates issued by a company to raise funds for long-term period (generally more than
one year) for a specific purpose (usually for capital expenditures), sometimes convertible into stock. At
present, debentures have been replaced by TFCs (Term Finance Certificates). Sukuk bonds.

4. Employees benefit obligations


These include benefits provided either to employees or their dependants, and may be settled by payments
(or the provision of goods or services) made either directly to the employees, their spouses, children, other
dependants. Its constituents are:
(i) Employees gratuity fund
(ii) Pension fund.
(iii) Staff compensated absences
(iv) Staff retirement benefits

5. Other non-current liabilities


These are residuals of non-current liabilities left from the above coverage, but remained in the balance
sheet of the company. These include:
(i) Deferred liabilities
(ii) Deferred liabilities/ taxation
(iii) Long term deposits/key deposits
(iv) Subordinated loans
(v) Retention money payable

E. Shareholders equity:
This item purports to represent the total stake of the shareholders in the business and is obtained by
adding the ordinary share capital to the reserves and also surplus on revaluation of fixed assets.

viii

1. Issued, subscribed & paid up capital


This represents the total subscribed and paid-up capital against issue of ordinary shares. These are amounts
of capital actually paid by the shareholders to the institution for acquiring its shares. It includes shares paid
in cash (subscribed/right issued), issued as bonus shares and shares issued for considerations other than cash
(e.g. for settlement of receivables/debts or debts redeemable into stock etc.).

(i) Ordinary Shares


Ordinary shares represent equity ownership in a company and entitle the owner to a vote in matters put
before

shareholders

in proportion to

their

percentage

ownership

in the

company.

Ordinary shareholders are entitled to receive dividends if any are available after dividends on preferred
shares are paid. They are also entitled to their share of the residual economic value of the company
should the business unwind; however, they are last in line after bondholders and preferred shareholders
for receiving business proceeds. As such, ordinary shareholders are considered unsecured creditors.

(ii) Preference Shares


Preferred Shares generally have dividends that must be paid out before dividends to common
stockholders

and

the

shares usually

do

not have

voting

rights.

The precise details as to the structure of preferred stock are specific to each corporation. However, the
best way to think of preferred stock is as a financial instrument that has characteristics of both debt
(fixed dividends) and equity (potential appreciation).
The difference between ordinary shares and preference shares is as follows:
(a) Ordinary shareholder receive dividend, which varies according to the prosperity of
the company but preference shareholder will receive a fixed amount dividend every year.
(b) Ordinary shareholder has a right of voting in the companys annual general meeting
while the preference shareholder has no voting right.
(c) Ordinary shareholders have a residual claim on the net assets of the company in case of
liquidation, while the claim of the preference shareholders is paid earlier.

2. Reserves
It is calculated by aggregating all kinds of reserves except depreciation reserve and reserve for bad and
doubtful debts plus the balance of profit and loss account.

ix

(i) Capital Reserves


These funds are allocated only to be spent on the capital expenditure projects/ future expansionary
projects for which they were initially intended, excluding any unforeseen circumstances. These
include:
(a) Share premium reserves
(b) Merger reserves
(c) Development reserves
(d) Reserve for issue of bonus shares
(e) Reserve for re-issue of forfeited shares
(f) Capital gain on sale of fixed assets
(g) Dividend equalization reserves
(h) Non-controlling interest (minority interest)
(i) Fair value Reserve
(j) Subordinated Loans
(k) Interest rate swap revaluation reserve
(l) Hedge reserve
(m) Advance against subscription for right shares
(n) Undistributed percentage return reserve
(o) Exploration and evaluation reserve
(p) Investment revaluation reserve
(q) Share deposit money
(r) Exchange difference on translation of foreign subsidiaries
(s) Statutory Reserve

(ii) Revenue Reserves


This is that part of the profit that has been not given to the shareholders but retained in the business for
future growth. These include:
(a) General reserves
(b) Un-appropriated reserves
(c) Retained reserves
(d) Reserves on profit & loss account
(e) Deferred income
(f) Retained Earnings

3. Surplus on revaluation of fixed assets


Revaluation of fixed assets is a technique that may be required to accurately describe the true value of
the capital goods that a business owns. The revaluation surplus has been included in equity because
capital goods like property, plant and equipments participate directly in the revenue generation and
transferred directly to retained earnings.

F. Operation:
1. Sales
This item represents the sale proceeds of the company netting off all components of expenses associated
with sales. Sales revenue is classified as local sales and export sales.

2. Cost of sales
Cost of sales includes the direct costs attributable to the production of the goods sold by a company. This
amount includes the materials cost used in creating the goods along with the direct labor costs used to
produce the good.

(i) Cost of material


This includes cost of all raw and other processing materials incurred in the production of finished goods,
which are available for sale of the company.

(ii) Other Input cost


These are all remaining cost of sales excluding the cost of materials.

3. Gross Profit
Gross profit is arrived at by subtracting cost of sales from sales revenue.

4. General, administrative and other expenses


These expenses consist of the combined payroll costs (salaries, commissions, and travel expenses of
executives, sales people and employees), and advertising expenses that a company incurs. This is usually
understood as a major portion of non-production related costs.

(i) Selling & distribution expenses


These are non-production cost, but directly related with the revenue generation of saleable goods, i.e. cost
incurred to mobilize goods from factory outlet to the market palace. These include:

xi

(a) Distribution expenses


(b) Brokerage expenses
(c) Salary, wages and commission expenses
(d) Discount expenses
(e) Selling expenses
(f) Forwarding expenses

(ii) Administrative and other expenses


These expenses are also non-production costs and fixed in nature. The company is obliged to pay these
expenses which are permanent in nature until the structure of the company is not affected. These include:
(a) Postage, telegram and telephone expenses
(b) Conveyance and travelling expenses
(c) Salary, wages and other benefits
(d) Depreciation expenses

5. Salary, wages and employees benefits


These are salary; wages and employees benefit expenses that a company has borne in all stages to run the
business activities. These covers the expenses to all employees (temporary, permanent)

6. Financial expenses
These are expenses incurred due to borrowing of financial assets (short / long term loans) and acquisition of
financial services by a company during an accounting period. It consists of interest paid expenses on
loan/debts plus:
(a) Interest and mark-up on supplier credit
(b) Interest on workers profit participation fund.
(c) Bank charges and commission
(d) Excise duty on long and short-term finance
(e) Discounting charges on receivables
(f) Exchange commission expenses

Of which: (i) Interest expenses


These are interest expenses incurred on borrowing of long and short terms loans. These include the
following items;
(i) Mark-up and interest on long term loan
(ii) Mark-up and interest on debentures and redeemable capital
(iii) Mark-up and interest on short term loan
(iv) Interest on private loan

xii

7. Net profit before taxes


It is the profit earned by the company during the year before tax.

8. Tax provision
It is provision of taxation made on current years profit.

9. Total amount of dividend


It is the total dividend including interim dividend distributed or proposed to be distributed out of the current
years profit

10. Total value of bonus shares issued


This is the total amount of bonus shares issued to the shareholders as appropriation of net profit after tax of the
company during the year.

11. Cash flows from operations


This amount is derived as net cash flow from operating activities of a company from its Cash flow statement.
Operating activities include the production, sales and delivery of the company's product as well as
collecting payment from its customers. This could include purchasing raw materials, building inventory,
advertising, and shipping the product,
Under IAS 7, operating cash flows include:

Receipts from the sale of goods or services

Receipts for the sale of loans, debt or equity instruments in a trading portfolio

Interest received on loans

Dividends received on equity securities

Payments to suppliers for goods and services

Payments to employees or on behalf of employees

Items which are added back to [or subtracted from, as appropriate] the net income figure (which is found on
the Income Statement) to arrive at cash flows from operations generally include:

Depreciation (loss of tangible asset value over time)

Deferred tax

Amortization (loss of intangible asset value over time)

xiii

Any gains or losses associated with the sale of a non-current asset, because associated cash flows do
not belong to the operating section

G. Miscellaneous:
1. Total capital employed
The total of shareholders equity and total non- current liabilities engaged in the capital formation
constitute this item.
Total capital employed = Shareholder's equity+ Long term secured loan+ Long term unsecured loan+
Debentures/ TFC's+ Employees benefit obligations.

2. Total fixed liabilities


It is the sum total of the items debentures (TFCs) and other fixed liabilities.
Total fixed liabilities = Long term secured loan+ Debentures/TFC's

3. Retention in business
This is the amount that a company retains in business after netting off all possible expenses and is
obtained by deducting the provision for the tax and the total dividend distributed or proposed to be
distributed from the net profit for the year.
Retention in business = Net profit before taxes- Tax provision- Total amount of dividend

4. Contractual liabilities
This item pertains to all secured debentures, long-term loans, finance lease, short term secured loans and
bank overdraft.
Contractual liabilities = Long term secured loan+ Preference shares+ TFC's + Short term secured
loans.

III. Performance Indicators:


1. Acid test or quick ratio
The acid test or quick ratio is used to determine how quickly a company would be able to pay off its current
liabilities if it needs to convert its quick assets into cash.
Acid test or quick ratio = (Cash & bank balances + Trade debtors + Short term investments)/ Current
Liabilities.

xiv

The ideal quick ratio is 1:1, which measures the firms capacity to payoff claims of current creditors
immediately.

2. Financial expenses to sales


It shows the ratio of financial expenses to sales. Lowering the ratio indicates the financial discipline of the
company and the increasing ratio indicates that the company is facing financial expenses burden out of its
sales revenue
Financial expense to sales = Financial expenses/ Sales

3. Trade debt to sales


It is the ratio of outstanding credit (all sales receivables) to the total sale proceeds of the company. Higher the
percentage, the company is increasing its debtors and credit risk and reducing its liquidity position.
Trade debt to sales= Trade debt/ Sales

4. Assets turnover ratio


It is the ratio of total sale proceeds to the total assets of the company. Higher the ratio, the company is
sufficiently using its assets in generating revenues and lowers the ratio; the company is insufficient in
generating revenues.
Assets turnover ratio= Sales/ (Non-Current Assets + Current Assets)

5. Current ratio
It is the ratio of total current assets to the total current liabilities. Higher current ratio shows that the company is
in a well-off situation and lower current ratio shows the worsening situation.
Current ratio= Current Assets/ Current Liabilities
A rough guide for most companies exhibits 1.5:1 relationship between current assets and current liabilities as
indication of ability to meet current obligation without recourse of special borrowings.

6. Cost of goods sold to sales


This ratio is derived by dividing cost of sales of goods to the total amount of sale proceeds. Higher the ratio,
lower the gross profit margins and lower the ratio, higher the gross profit margins of the company.
Cost of goods sold to sales= Cost of goods sold/ sales

7. Debt equity ratio


This is a measure of companys financial leverage and calculated by dividing its total liabilities by
stockholders' equity. It indicates what proportion of equity and debt the company is using to finance its

xv

assets. The higher ratio generally means that a company has been aggressive in financing its growth with
debt. This can result in volatile earnings as a result of the additional interest expense.
Debt equity ratio = (Current Liabilities + Non-Current Liabilities)/ Shareholders equity
It provides a margin safety to creditors. The smaller the ratio, the more secured are the creditors. An appropriate
debt to equity ratio is 0.33. A higher ratio than this is an indication of financial risk policy.

8. Return on assets (ROA)


This is an indicator that reflects how profitable a company is relative to its total assets. ROA gives an
idea as to how efficient management is at using its assets to generate earnings. This is calculated by
dividing a company's annual earnings by its total assets. The higher the ROA, the better, because the
company earns more money on less investment.
ROA = Net profit before taxes/ Average of (Non-Current Assets + Current Assets)

9.

Return on equity (ROE)

It measures a firm's efficiency at generating profits from every unit of shareholders' equity. It shows how
well a company uses its resources to generate earnings growth. The ROE is useful for comparing the
profitability of a company to that of other firms in the same industry.
ROE = Net profit before taxes/ Average of Shareholders equity

10. Return on capital employed (ROCE)


ROCE compares earnings with capital invested in the company. ROCE should always be higher than the
rate at which the company borrows; otherwise any increase in borrowing will reduce shareholders'
earnings.
ROCE = Net profit before taxes/ Average of Total capital employed

11. Dividend cover ratio


This measures the ability of a company to pay dividends to ordinary shareholders from after tax income and
measured as:
Dividend cover ratio= (Net profit before taxes - Tax provision)/ Total amount of dividend
If a company is operating in a sector that is reasonably unaffected by economic downturns, such as food
manufacturing and retailing, the lower dividend cover is more acceptable, because the risk is lower.

12. Inventory Turnover Ratio


A ratio showing how many times a company's inventory is sold and replaced over a period. The inventory
turnover ratio is calculated as
Inventory Turnover Ratio = Sales / Inventory

xvi

This ratio should be compared against industry averages. A low turnover implies poor sales and, therefore,
excess inventory. A high ratio on the other hand implies strong sales.
High inventory levels are unhealthy because they represent an investment with a rate of return of zero. It
also opens the company up to trouble should prices begin to fall.

13. Interest cover ratio


This ratio measures the efficiency of a company for its ability to pay its interest-payment on its borrowing
from operating profit and measured as
Interest cover ratio = Net profit before interest and tax payment / Interest expenses
= (Net profit before taxes+ Interest expenses) / Interest expenses
The higher the figure, the safer is the company. The company with interest cover ratio 2 will suffer a 50%
drop in the profit and a company with a ratio less than 1 would have to dip into cash reserve.

14. Net profit margin


This ratio is achieved as a ratio of profit earned by a company from its sale proceeds.
Net profit margin= Net profit before taxes/ sales

15. Operating cash flow to debt ratio


This ratio is obtained by dividing the net cash flow balance from operating activities from total liabilities
and mathematically it may be derived as:
Operating cash flow to debt ratio =Cash flows from operations/ (Current Liabilities+ Non
-Current Liabilities)
This ratio measures the ability of the company's operating cash flow to meet its obligations. The operating
cash flow is simply the amount of cash generated by the company from its main operations, which are used
to keep the business funded. The higher the ratio, the safer the company. A minimum value of 0.2 is often
used as guided level.

16. Earnings per share after tax (Rs./share)


It is arrived at by dividing the net profit (after tax) by the number of ordinary shares.
Earnings per share after tax (Rs.) = (Net profit before taxes - Tax provision)/ Number of ordinary
shares

17. Break- up value shares (Rs./share)


It is obtained by dividing the amount of shareholders equity by the number of ordinary shares.
Break- up value shares (Rs. /share) = Shareholders equity/ Number of ordinary shares

xvii

Executive Summary
Growth of 1.70 percent was registered in overall assets of non-financial companies listed on Karachi Stock
Exchange (KSE) in 2013 over 2012 to reach Rs 5,409.09 billion. Overall liabilities, decreased by 5.12 percent to Rs
3,352.33 billion however an increase of 15.19 percent was witnessed in shareholders equity (Rs 2,056.76 billion) in
2013 when compared with the previous year. Growth in overall assets is mainly attributed to an increase of 4.80
percent in public sector companies. Liabilities in public sector companies remained stagnant, however that of
private sector companies recorded a decrease of 7.1 percent in 2013 over 2012. Private and public sectors companies
recorded almost same growth in shareholders equity i.e. 15.01 percent and 15.73 percent respectively.
Operational productivity of capital market (listed on KSE) deciphered an increase of 12.33 percent and 5.35 percent
in sales of private and public sector companies respectively. Gross profit for private sector enterprises was recorded
as Rs 703.12 billion with an increase of Rs 157.02 billion from Rs 546.10 billion in 2013 over 2012. Similarly,
public sector enterprises also recorded an increase of Rs 16.06 billion in 2013 to touch 265.58 billion. Net profit
before tax reflected 81.67 percent growth in private sector compared to 2.57 percent rise in public sector. An
increase of 16.33percent was recorded in tax expenses of non-financial companies in 2013 over 2012. The private
sector companies recorded an increase of 21.27 percent in its tax expenses compared to 11.48 percent increase in
public sector companies.
A brief review on important performance indicators for 2012 and 2013 is given below:-

Capital Structure
Total capital employed, comprising shareholders,

Figure1: Total Capital Employed

equity and long term liabilities, recorded an increase


2013 from Rs 2,894.81 billion in 2012. Total
shareholders equity increased by 15.19 percent
from Rs 1,785.60 billion in 2012 to Rs 2,056.76
billion in 2013. Total fixed liabilities comprising
long term secured loans and debentures/TFCs

2,500
Amount in Billion Rs.

of 10.23 percent to reach Rs 3,190.91 billion in

percent against to an increase of 2.36 percent in


2012 over 2011.

60%

2,000

40%

1,500

20%

15.19%

1,000

7.25%

0%

-14.50%

500

-20%
-30.65%

decreased from Rs 590.32 billion in 2012 to Rs


499.62 billion in 2013 showing a decrease of 15.36

80%
66.28%

SE

LSL

LUSL

TFCs

SE= Shareholders Equity, LSL= Long term Secured Loans


LUSL= Long term Unsecured Loans, TFCs=Term Finance
Certificates, EBO = Employee Benefits Obligations

xviii

EBO

-40%
2012

2013
Growth

Components of Balance Sheet:


Figure 2: Components of Balance Sheet
6000

20%

with an increase of 1.70 percent from Rs 5,318.79

5000

15.19%15%

4000

10%

Amount in Billion Rs.

Overall assets touched Rs 5,409.09 billion in 2013


billion in 2012. Total liabilities, decreased by 5.12
percent to reach Rs 3,352.33 billion in 2013 from
Rs 3,533.19 billion in 2012. Total shareholders
equity at Rs 2,056.76 billion in 2013 reflected an

3000

5%

1.70%

2000
1000

increase of 15.19 percent from Rs 1,785.60 billion

0%
-5%

-5.12%

-10%
Total Assets

in 2012.

2012

Tota l
Lia bilities
2013

Total SE

Growth

Non-Current Assets:
Operating fixed assets after deducting accumulated

Figure 3: Non-Current Assets

depreciation amounted to Rs 2,179.28 billion in


2012. Intangible assets and long term investments
increased by 22.92 percent and 118.99 percent
respectively in 2013 over 2012. Capital work in

2500
Amount in Billion Rs

2013 depicted an increase of 6.19 percent over

2000
1500

1000
500
0

progress, however, showed a decline of 6.32 percent


over the previous year.

140%
118.99%120%
100%
80%
60%
40%
22.92%
20%
6.19%
0%
-6.32%
-20%
Capital Work in Operating fixed Intangible
Long Term
progress
Assets after
Assets
Investment
Dep.

2012

2013

Growth

Current Assets:
Current assets slashed to Rs 2,306.86 billion in 2013
with a decrease of 12.43 percent from Rs 2,634.27

Figure 4: Current Assets


1,400

by 37.53 percent, short-term investment by 19.14


percent, and inventories by 8.71 percent. Cash &
bank balances and short term investment (liquid
assets) together increased by 29.17 percent from Rs

Amount in Billion Rs

billion in 2012. Cash and bank balances scaled up

290.94 billion in 2012 to Rs 375.81 billion in 2013.

1,200

37.53%

1,000
800
600
400
200

0
Cash & bank
balance

Trade debt recorded a decline of 37.16 percent in

50%
40%
30%
19.14% 20%
10%
8.71%
0%
-10%
-20%
-30%
-37.16%
-40%
-50%
Inventories
Trade Debt
Short Term
Investment

2012

2013 when compared to 2012.

xix

2013

Growth

Liabilities
Total liabilities decreased by 5.12 percent to touch

Figure 5: Liabilities

Rs 3,352.33 billion in 2013 over Rs 3,533.19 billion


decrease of 8.49 percent in 2013 over 2012 however,
non-current liabilities posted an increase of 2.25
percent over the previous year. Decline in current
liabilities is mainly attributed to private sector which

3000
Amount in Billion Rs.

in 2012. Overall current liabilities reflected a

posted a decline of 11.22 percent in 2013 over 2012.

4%

2.25%

2500

2%
0%

2000

-2%

1500

-4%

1000
500

-6%
-8%

-8.49%

-10%
Current Liabilities

Increase of 1.61 percent and 4.00 percent have been


recorded in non-current liabilities of private and

2012.00

Non-Current Liabilities

2013.00

Growth

public sector companies respectively.

Shareholders Equity:

or 2.66 percent from Rs 620.17 billion in 2012 to Rs


636.67 billion in 2013. Reserves increased by Rs
243.73 billion or 27.37 percent from Rs 890.60
billion in 2012 to Rs 1,134.33 billion in 2013.

Amount in Billion Rs.

Figure 6: Shareholders' Equity

Total paid-up capital increased by Rs 16.51 billion

Surplus on revaluation of fixed assets also increased

1200

20%

600

15%

400

10%

200
0

3.97%

2.66%

2012

xx

5%
0%

Reserves

by Rs 10.92 billion or 3.97 percent from Rs 274.84

25%

800

Paid Up Capital

billion in 2012 to Rs 285.76 billion in 2013.

30%

27.37%

1000

2013

Surplus on
Revaluation of Fix
Assets
Growth

Composition of operations
Sales, gross profit and net profit before taxation,
considered

yardsticks

of

Figure 7: Growth and Composition of Operations

operational

performance of capital market. All these indicators


showed optimistic picture of productivity during
2013 with increases of 10.11 percent, 21.75
percent and 40.78 percent on account of sales,
gross profit and net profit before tax over the

Amount in Billion Rs.

are

previous year. The sales of all non-financial listed

9000
8000
7000
6000
5000
4000
3000
2000
1000
0

180%
160%
140%
120%
100%
80%
60%
40%
20%
0%

167.25%

40.78%

21.75%

10.11%

Sales

companies stood at Rs 6,243.90 billion in 2013


against Rs 5,670.56 billion in 2012, showing an

Gross Profit

2012

Net Profit
Before Tax

2013

Cash Flows
from Operation

Growth

increase of 10.11 percent. Local sales increased by


9.01 percent or Rs 463.09 billion whereas the export sales increased by Rs 110.25 billion or 20.73 percent in 2013.
Gross profit increased by Rs 173.08 billion from Rs 795.63 billion in 2012 to Rs 968.71 billion in 2013. Cash flow
from operations reflected a substantial increase of 167.25 percent over the previous year.
Net profit before tax, which stood at Rs 372.67

Figure 8: Net Profit (before tax) and Retention

billion in 2012 increased by Rs 151.97 billion or


Out of profit, amount retained in business has
been Rs.174.37 billion in 2013 as against Rs
88.89 billion in 2012 reflecting a considerable
increase of Rs 85.50 billion or 96.19 percent.

600.00
Amount in Billion Rs.

40.78 percent to reach Rs 524.65 billion in 2013.

524.65

500.00
378.43

400.00
300.00

202.88

211.68

174.37

200.00
100.00

372.67

320.80

99.04

4.69

104.19

88.89

16.25

0.00
2008

2009

2010

Net profit (before tax)

xxi

2011

2012

Retention in business

2013

Key Performance Indicators


Current ratio, an appraisal of corporate liquidity,

Figure 9: Key Performance Ratios

lowered to 1.04 in 2013 from 1.09 in 2012. Debt

equity, declined from 1.98 to 1.63 in 2013 when


compared with 2012.
Net profit margin and earnings per share after
taxation indicated healthy performance for KSElisted companies (non-financial)

Percentage

to equity, a ratio of total liabilities to shareholders

8.4

9
8
7
6
5
4
3
2
1
0

6.57

5.93
4.01
1.98 1.63

1.09 1.04

Current Ratio

in 2013 as

Debt Equity Ratio Net Profit Margin Earning Per Share


after Tax

compared to 2012. Net profit margin jumped to

2012

2013

8.40 in 2013 whereas it was 6.57 in 2012. Cost of


sales also ballooned but far short of outweighing the impact of sales on earning better profit.

Increase in

administrative expenses was offset to a large extent by decline in financial expenses to retain their profit margin.
Earnings per share after tax increased from 4.01 in 2012 to 5.93 in 2013. Amount retained in business was almost
double in 2013 (Rs 174.37 billion) over 2012 (Rs 88.89 billion).

Return on assets (ROA), return on equity (ROE) and Return on Capital Employed (ROCE), parameters of
companies profitability, increased to 9.78 percent,

Figure 10: Profitability/Efficiency Ratios


30.0

compared to 7.46 percent, 21.85 percent, and 13.33

25.0

percent in 2012 underscoring the fact that that non-

20.0

financial corporate sector efficiently utilized its


assets, equity and capital employed to earn higher

Percentage

27.31 percent and 17.24 respectively in 2013 as

profit in 2013 as compared to 2012.

27.31
21.85

17.24
13.33

15.0
9.78

10.0

7.46

5.0
0.0
ROA

ROE
2012

xxii

2013

ROCE

ANALYTICAL TABLES

Financial Statement Analysis of Non Financial Sector 2013

All Sectors - Overall


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,388,602,765
0
2,090,354,493
1,329,643,724
96,644,794
58,955,617
3,424
0
1,493,811,874
172,892,067
362,026,984
365,627,314
250,034,020
343,231,489
1,422,133,488
420,103,842
1,002,029,646
422,795,522
86,708
0
49,685,847
0
373,022,967
1,037,485,629
429,007,301
419,555,437
9,451,864
608,367,344
0
(61,986)
110,984

2,122,907,148
339,740,317
2,346,586,599
1,450,580,359
110,294,393
89,796,642
163,457,753
79,332,077
1,452,894,176
165,977,733
346,339,806
551,260,706
78,703,843
310,612,088
1,397,056,009
440,479,819
956,576,190
985,639,315
449,094,335
114,550,887
51,583,710
52,034,260
318,376,122
1,193,105,996
478,802,009
468,310,031
10,491,978
559,295,888
116,841,776
433,990,697
155,008,100

2,401,658,913
393,354,049
2,711,252,057
1,654,398,111
128,404,701
101,391,029
178,808,335
73,707,389
1,750,058,327
180,832,154
390,336,096
735,610,189
97,156,197
346,123,692
1,695,720,528
504,843,236
1,190,877,292
1,035,668,240
489,220,794
100,020,257
37,640,176
45,156,434
363,630,579
1,420,328,473
535,554,963
518,806,277
16,748,686
676,969,052
128,132,182
547,707,804
207,804,458

2,561,199,148
238,079,674
3,123,687,784
1,939,945,886
158,989,686
98,872,606
205,387,298
78,913,684
2,110,251,720
162,448,176
552,001,569
814,571,106
119,008,976
462,221,893
1,974,394,685
655,139,133
1,319,255,552
1,071,758,335
534,143,143
76,618,532
42,577,398
52,238,384
366,180,879
1,625,297,845
589,101,234
571,993,071
17,108,163
798,630,900
166,078,330
632,552,570
237,565,711

2,684,519,762
194,730,605
3,315,175,369
2,052,225,511
165,680,175
104,431,269
229,145,149
103,987,227
2,634,267,999
158,682,114
548,103,482
1,222,181,358
132,256,731
573,044,314
2,423,974,925
745,182,275
1,678,792,649
1,109,215,104
558,718,660
68,414,810
31,598,536
74,392,292
376,090,806
1,785,597,730
620,165,158
607,156,637
13,008,521
890,596,372
173,918,999
716,677,372
274,836,201

3,102,227,657
182,422,496
3,543,539,109
2,179,283,097
177,696,426
128,370,244
501,809,271
110,342,549
2,306,863,588
218,239,038
595,817,001
768,035,752
157,571,131
567,200,666
2,218,181,545
695,389,848
1,522,791,698
1,134,150,280
477,706,096
113,763,182
21,912,643
79,788,505
440,979,854
2,056,759,420
636,673,623
627,745,211
8,928,412
1,134,329,606
249,249,407
885,080,199
285,756,191

3,356,261,459
3,104,620,397
251,641,062
2,859,768,536
660,538
54,383
496,492,923
270,162,043
6,924
270,155,119
30,381
95,936,541
1,894
202,877,547
91,995,180
106,194,151
4,764,973
14,745

3,602,904,150
3,236,342,918
366,561,231
3,070,739,065
1,578,343,990
1,490,698,790
532,165,085
255,371,339
96,979,793
158,391,545
161,947,603
149,081,105
111,305,745
211,680,615
77,560,089
117,869,072
7,711,576
307,800,893

4,195,296,507
3,757,466,140
437,830,368
3,568,974,003
1,917,329,451
1,649,963,232
626,322,505
262,917,491
119,465,006
143,452,485
186,722,086
140,063,295
102,436,113
320,802,971
98,378,831
123,384,916
15,957,007
330,953,465

5,044,542,835
4,451,052,850
593,489,985
4,296,499,129
2,288,498,800
2,008,000,329
748,043,706
308,725,835
134,116,255
174,609,580
240,699,140
174,205,349
141,420,505
378,432,633
127,435,662
146,811,666
9,176,350
270,264,745

5,670,563,162
5,138,683,936
531,879,226
4,874,935,243
2,596,787,171
2,278,148,072
795,627,919
352,910,250
145,872,484
207,037,766
249,514,118
201,158,529
150,050,784
372,672,844
127,436,149
156,358,110
5,479,043
295,253,753

6,243,904,060
5,601,778,130
642,125,930
5,275,195,880
2,765,751,279
2,509,444,601
968,708,180
395,756,863
169,905,714
225,851,150
294,709,940
184,818,433
139,897,032
524,650,841
148,240,263
202,035,765
8,385,206
789,057,193

1,460,281,151
49,772,555
4,688,216
469,876,397

2,178,745,311
500,678,045
16,251,454
941,157,864

2,455,996,712
526,860,970
99,039,225
1,031,704,205

2,697,056,180
576,720,541
104,185,305
1,231,859,673

2,894,812,834
590,317,196
88,878,585
1,335,499,471

3,190,909,700
499,618,739
174,374,813
1,195,008,587

0.55
2.86
10.89
1.16
1.05
85.21
1.78
7.67
19.78
14.36
1.04
9.27
107,116.92
6.04
0.00
2.63
24.61

0.57
4.14
15.30
1.01
1.04
85.23
2.00
6.56
18.98
11.63
1.14
10.40
2.90
5.88
0.13
2.85
25.34

0.60
3.34
17.53
1.01
1.03
85.07
1.92
8.30
24.55
13.84
1.80
10.75
4.13
7.65
0.12
4.26
27.20

Items

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.56
3.45
16.15
1.08
1.07
85.17
1.87
8.58
24.85
14.69
1.71
9.14
3.68
7.50
0.09
4.35
28.19

0.62
3.55
21.55
1.07
1.09
85.97
1.98
7.46
21.85
13.33
1.57
10.35
3.48
6.57
0.08
4.01
29.19

0.52
2.96
12.30
1.15
1.04
84.49
1.63
9.78
27.31
17.24
1.86
10.48
4.75
8.40
0.24
5.93
32.42

Growth with Composition of Assets & Liabilities

3500

15.56%

3000
Billion Rs

20%
15.19%

2500

15%
10%

2000

5%

2.25%

1500

0%

1000

-5%
-8.49%

500

-10%

-12.43%

Non-Current
Assets

Current Assets Current Liabilities


2012

Non-Current
Liabilities

2013

Shareholders
Equity

-15%

Growth

Growth & Composition of Operations


2012

7000

2013

Growth
40.78%

6000
Billion Rs

5000
4000

21.75%

3000
2000

10.11%

1000
0

Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios

25

21.85

Percentage

20

2013
17.24

15
10

2012

27.31

7.46

9.78

13.33

5
0
Return on
Return on
Assets
Equity

Return on
Capital
Employed

Percentage

30

Net Profit Before Tax

45%
40%
35%
30%
25%
20%
15%
10%
5%
0%

9
8
7
6
5
4
3
2
1
0

2012

8.4

2013

6.57

5.93

4.01

1.98
1.09 1.04

Current
Ratio

1.63

Debt
Equity
Ratio

Net
Earning
Profit Per Share
Margin after Tax

Financial Statement Analysis of Non Financial Sector 2013

Private - Overall
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,076,264,789
0
1,641,235,470
1,054,613,962
74,578,793
21,647,403
3,424
0
1,137,493,840
145,111,691
297,817,744
232,019,190
209,965,374
252,579,841
1,059,182,440
361,617,683
697,564,757
305,483,257
86,708
0
37,255,704
0
268,140,845
849,092,932
341,223,957
331,772,093
9,451,864
507,757,991
0
(61,986)
110,984

1,656,044,365
298,962,895
1,829,092,579
1,120,225,495
83,370,094
37,321,582
153,571,477
45,962,917
1,045,318,974
147,789,838
299,461,689
318,828,878
59,854,019
219,384,549
1,039,571,971
391,694,077
647,877,894
718,375,335
397,193,671
105,752,575
31,145,696
27,340,423
156,942,969
943,416,030
388,338,334
377,853,856
10,484,478
444,356,325
108,694,334
327,198,576
110,721,371

1,927,152,956
345,901,900
2,167,251,037
1,323,674,135
99,122,629
39,132,894
170,511,039
47,932,988
1,223,081,780
159,153,858
325,241,924
407,627,134
67,476,594
263,582,271
1,247,133,146
436,970,171
810,162,975
773,617,830
455,017,427
90,769,037
19,395,454
29,956,322
178,479,590
1,129,483,761
440,937,004
424,195,818
16,741,186
507,393,595
119,699,307
386,567,457
181,153,162

2,032,690,182
197,602,046
2,508,159,067
1,563,356,126
125,827,004
36,197,832
181,279,258
54,254,920
1,490,337,001
136,172,324
449,723,460
483,579,345
96,760,724
324,101,148
1,475,594,757
583,870,167
891,724,590
778,187,520
466,182,995
67,294,355
29,851,886
32,695,374
182,162,911
1,269,244,903
487,808,981
470,708,318
17,100,663
582,538,151
154,551,295
427,986,856
198,897,771

2,115,228,957
158,212,532
2,690,476,441
1,642,691,867
128,073,803
35,877,146
199,761,649
78,685,762
1,767,235,125
140,569,070
452,245,680
659,554,722
96,388,908
418,476,745
1,724,389,728
607,563,499
1,116,826,228
813,571,599
482,825,345
59,328,497
25,538,793
48,954,051
196,924,913
1,344,502,753
516,964,287
503,955,766
13,008,521
594,829,817
156,730,025
438,099,791
232,708,650

2,271,353,275
114,234,306
2,873,634,768
1,755,860,095
142,378,039
46,353,098
270,929,574
83,976,202
1,632,462,908
188,172,280
487,143,349
439,605,308
125,013,321
392,528,650
1,530,865,630
584,181,272
946,684,359
826,674,824
475,197,890
52,389,859
21,912,643
50,423,190
226,751,242
1,546,275,729
529,431,877
520,503,465
8,928,412
778,202,704
215,297,343
562,905,361
238,641,148

2,261,072,364
2,009,432,865
251,639,499
1,942,315,389
660,538
54,383
318,756,975
186,234,341
6,924
186,227,417
30,381
82,255,840
1,894
101,910,213
52,453,252
46,261,653
3,941,970
14,745

2,409,723,791
2,043,162,559
366,561,231
2,038,196,323
1,389,002,856
647,497,182
371,527,468
195,104,630
84,122,739
110,981,891
122,241,685
127,008,300
96,513,831
107,051,253
44,757,259
70,165,773
6,051,855
233,602,995

2,856,365,723
2,418,535,356
437,830,368
2,424,105,574
1,721,363,016
701,061,238
432,260,150
208,403,358
106,246,117
102,157,241
143,173,736
109,408,743
88,716,810
174,241,333
57,814,525
86,523,650
12,287,412
203,559,917

3,547,703,594
2,954,213,609
593,489,985
2,998,670,171
2,184,086,042
814,584,129
549,033,423
245,258,731
117,316,307
127,942,424
180,256,805
140,166,684
123,947,102
238,238,086
78,399,611
104,052,513
7,287,320
163,689,058

3,866,892,076
3,335,012,850
531,879,226
3,320,787,868
2,415,991,258
904,796,610
546,104,208
274,066,655
127,010,478
147,056,177
182,590,970
163,345,576
127,020,859
180,026,465
63,033,048
105,285,980
1,248,715
204,621,759

4,343,730,565
3,701,604,635
642,125,930
3,640,606,538
2,591,343,852
1,049,262,686
703,124,027
307,480,808
149,855,831
157,624,978
219,182,611
149,352,266
112,954,082
327,047,116
76,442,315
138,169,358
3,946,151
440,265,785

1,154,576,189
37,342,412
3,195,308
398,960,095

1,661,791,365
428,339,367
(7,871,779)
820,033,444

1,903,101,590
474,412,881
29,903,159
911,383,051

2,047,432,423
496,034,881
55,785,961
1,079,905,047

2,158,074,352
508,364,138
11,707,437
1,115,927,637

2,372,950,553
497,110,533
112,435,444
1,081,291,805

0.55
3.64
10.26
1.02
1.07
85.90
1.61
5.00
12.22
9.11
1.07
7.59
53,807.87
4.51
0.00
1.48
25.44

0.51
5.27
13.23
0.89
1.01
84.58
1.86
4.36
11.94
7.60
0.89
8.05
2.11
4.44
0.13
1.64
24.80

0.51
3.83
14.27
0.91
0.98
84.87
1.79
5.96
16.81
9.78
1.35
8.78
2.96
6.10
0.10
2.72
26.42

0.49
3.95
13.63
1.01
1.01
84.52
1.78
7.14
19.86
12.06
1.54
7.89
2.92
6.72
0.07
3.36
26.70

0.52
4.22
17.06
1.00
1.02
85.88
1.89
4.86
13.78
8.56
1.11
8.55
2.42
4.66
0.08
2.30
26.44

Items

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.49
3.44
10.12
1.11
1.07
83.81
1.52
8.40
22.63
14.44
1.81
8.92
3.90
7.53
0.19
4.75
29.34

Growth with Composition of Assets & Liabilities

2500

20%
15.01%

Billion Rs

2000

10%

7.38%

1500

5%

1.61%

1000
500

0%
-5%

-7.63%

-10%

-11.22%

Non-Current
Assets

15%

Current Assets Current Liabilities

2012

157.02

Non-Current
Liabilities

2013

Shareholders
Equity

-15%

Growth

Growth & Composition of Operations


2012

5000
4500
4000
3500
3000
2500
2000
1500
1000
500
0

2013

Growth

Billion Rs

81.67%

28.75%
12.33%

Sales

Gross Profit

Key Performance Indicators

Profitability/Efficiency Ratios
25

2012

22.63

13.78

10
5

8.4
4.86

14.44

8.56

Return on
Return on
Assets
Equity

2013

4.75

4.66

5
4
3
2

2012

2013

15

7.53

Percentage

Percentage

20

Net Profit Before Tax

90%
80%
70%
60%
50%
40%
30%
20%
10%
0%

1.89
1.02 1.07

2.3
1.52

1
Return on
Capital
Employed

Current
Ratio

Debt
Equity
Ratio

Net
Profit
Margin

Earning
Per Share
after Tax

Financial Statement Analysis of Non Financial Sector 2013

Public - Overall
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

312,337,976

466,862,783
40,777,422
517,494,021
330,354,865
26,924,299
52,475,060
9,886,276
33,369,160
407,575,202
18,187,895
46,878,117
232,431,828
18,849,823
91,227,539
357,484,038
48,785,742
308,698,296
267,263,980
51,900,664
8,798,312
20,438,014
24,693,837
161,433,153
249,689,967
90,463,675
90,456,175
7,500
114,939,563
8,147,442
106,792,121
44,286,729

474,505,957
47,452,149
544,001,020
330,723,976
29,282,072
62,258,135
8,297,296
25,774,401
526,976,547
21,678,296
65,094,172
327,983,055
29,679,603
82,541,421
448,587,382
67,873,065
380,714,317
262,050,410
34,203,367
9,251,220
18,244,722
15,200,112
185,150,989
290,844,712
94,617,959
94,610,459
7,500
169,575,457
8,432,875
161,140,347
26,651,296

528,508,966
40,477,628
615,528,717
376,589,760
33,162,682
62,674,774
24,108,040
24,658,764
619,914,719
26,275,852
102,278,109
330,991,761
22,248,252
138,120,745
498,799,928
71,268,966
427,530,962
293,570,815
67,960,148
9,324,177
12,725,512
19,543,010
184,017,968
356,052,942
101,292,253
101,284,753
7,500
216,092,749
11,527,035
204,565,714
38,667,940

569,290,805
36,518,073
624,698,928
409,533,644
37,606,372
68,554,123
29,383,500
25,301,465
867,032,874
18,113,044
95,857,802
562,626,636
35,867,823
154,567,569
699,585,197
137,618,776
561,966,421
295,643,505
75,893,315
9,086,313
6,059,743
25,438,241
179,165,893
441,094,977
103,200,871
103,200,871
0
295,766,555
17,188,974
278,577,581
42,127,551

830,874,382
68,188,190
669,904,341
423,423,002
35,318,387
82,017,146
230,879,697
26,366,347
674,400,680
30,066,758
108,673,652
328,430,444
32,557,810
174,672,016
687,315,915
111,208,576
576,107,339
307,475,456
2,508,206
61,373,323
0
29,365,315
214,228,612
510,483,691
107,241,746
107,241,746
0
356,126,902
33,952,064
322,174,838
47,115,043

1,193,180,359
1,193,180,359
0
1,032,542,742
189,341,134
843,201,608
160,637,617
60,266,709
12,857,055
47,409,654
39,705,918
22,072,804
14,791,914
104,629,362
32,802,829
47,703,300
1,659,721
74,197,897

1,338,930,784
1,338,930,784
0
1,144,868,429
195,966,435
948,901,994
194,062,355
54,514,133
13,218,889
41,295,244
43,548,350
30,654,552
13,719,303
146,561,638
40,564,306
36,861,266
3,669,596
127,393,548

1,496,839,241
1,496,839,241
0
1,297,828,958
104,412,758
1,193,416,200
199,010,283
63,467,104
16,799,948
46,667,156
60,442,335
34,038,665
17,473,403
140,194,547
49,036,051
42,759,152
1,889,030
106,575,687

1,803,671,086
1,803,671,086
0
1,554,147,375
180,795,913
1,373,351,462
249,523,711
78,843,595
18,862,006
59,981,589
66,923,148
37,812,953
23,029,925
192,646,379
64,403,101
51,072,130
4,230,328
90,631,994

1,900,173,495
1,900,173,495
0
1,634,589,342
174,407,427
1,460,181,915
265,584,153
88,276,055
20,049,883
68,226,172
75,527,329
35,466,167
26,942,950
197,603,725
71,797,948
63,866,407
4,439,055
348,791,408

305,704,962
12,430,143
1,492,908
70,916,302

516,953,947
72,338,678
24,123,233
121,124,420

552,895,122
52,448,089
69,136,066
120,321,154

649,623,757
80,685,660
48,399,344
151,954,626

736,738,482
81,953,058
77,171,148
219,571,834

817,959,147
2,508,206
61,939,370
113,716,782

0.56
1.25
12.20
1.64
0.98
83.77
2.55
16.68
52.72
34.23
1.02
17.06

0.75
1.85
19.48
1.36
1.14
86.54
2.50
13.56
47.77
25.44
1.51
25.45
8.07
8.77
0.12
7.94
27.60

0.85
2.29
24.50
1.34
1.17
85.51
2.44
15.63
54.23
27.40
2.88
20.57
11.68
10.95
0.18
11.20
30.74

0.76
2.27
22.11
1.30
1.24
86.70
2.23
13.04
43.34
23.32
2.13
14.63
9.02
9.37
0.13
9.00
35.15

0.88
2.10
31.19
1.26
1.24
86.17
2.26
14.91
48.33
27.79
2.51
18.82
9.37
10.68
0.09
12.43
42.74

0.57
1.87
17.28
1.26
0.98
86.02
1.95
13.44
41.53
25.42
1.97
17.49
8.33
10.40
0.35
11.73
47.60

Items

449,119,023
275,029,762
22,066,001
37,308,214

356,318,034
27,780,376
64,209,240
133,608,124
40,068,646
90,651,648
362,951,048
58,486,159
304,464,889
117,312,265

12,430,143

104,882,122
188,392,697
87,783,344
87,783,344
0
100,609,353

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,095,189,095
1,095,187,532
1,563
917,453,147

177,735,948
83,927,702

83,927,702

13,680,701

100,967,334
39,541,928
59,932,498
823,003

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

9.22
0.00
7.00
21.46

Billion Rs

Growth with Composition of Assets & Liabilities

1000
900
800
700
600
500
400
300
200
100
0

45.95%

4.00%

-1.75%
-22.22%

Non-Current
Assets

Current Assets Current Liabilities

2012

Non-Current
Liabilities

2013

50%
40%
30%
20%
15.73%
10%
0%
-10%
-20%
-30%

Shareholders
Equity

Growth

Growth & Composition of Operations


2012

2000
1800
1600
1400
1200
1000
800
600
400
200
0

2013

Growth

7%

6.44%

6%

5.35%

Billion Rs

5%
4%
2.57%

Sales

Gross Profit

48.33
41.53

2012
2013
27.79
25.42

14.91
13.44

14

Return on
Capital
Employed

0%

12.43

12

2012
2013
11.73

10.6810.40

10
8
6
4
2

Return on
Return on
Assets
Equity

Net Profit Before Tax

Key Performance Indicators

Percentage

Percentage

2%
1%

Profitability/Efficiency Ratios
50
45
40
35
30
25
20
15
10
5
0

3%

2.26
1.24 0.98

Current
Ratio

1.95

Debt
Equity
Ratio

Net
Profit
Margin

Earning
Per Share
after Tax

TEXTILES

Financial Statement Analysis of Non Financial Sector 2013

Textile Sector - Overall


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

220,912,726

347,034,033
38,700,506
381,238,238
246,590,349
16,509,202
5,810,569
50,853,653
5,078,956
220,764,916
6,268,343
112,960,861
58,409,833
4,563,775
38,562,103
257,359,194
182,685,144
74,674,049
135,542,336
102,228,476
14,708,347
2,832
2,994,925
15,607,755
174,897,422
50,126,281
48,332,051
1,794,230
81,082,580
20,925,458
61,418,927
43,688,561

361,534,030
47,435,018
373,637,025
237,847,935
17,812,848
5,802,132
64,946,871
5,502,073
225,191,650
5,872,868
111,575,239
60,276,973
5,284,651
42,181,919
243,223,714
170,133,031
73,090,683
124,788,653
92,319,601
13,133,074
327,832
3,292,347
15,715,800
218,713,312
49,972,317
48,853,426
1,118,892
119,081,094
32,009,706
88,333,193
49,659,900

345,277,180
11,282,796
406,391,396
263,143,670
18,630,553
194,092
67,345,150
3,311,472
292,865,002
7,640,263
140,656,331
80,823,662
15,606,801
48,137,945
280,410,091
197,427,058
82,983,032
113,172,922
77,493,772
12,718,177
5,756,495
3,672,117
13,532,361
244,559,166
52,625,170
51,141,655
1,483,515
142,233,367
44,503,972
97,729,395
49,700,629

380,406,988
22,370,471
445,383,413
291,757,314
18,952,188
858,331
62,389,323
3,031,549
311,895,437
8,185,538
125,022,951
86,131,478
5,060,272
87,495,199
306,953,612
185,484,173
121,469,438
127,410,608
89,503,907
13,441,788
1,329,583
4,133,631
19,001,699
257,938,205
53,970,953
52,587,620
1,383,333
128,221,222
49,643,790
78,577,432
75,746,030

421,176,011
12,240,164
485,316,334
324,728,307
19,218,984
902,808
80,678,803
2,625,929
313,878,151
15,278,754
151,383,908
85,502,326
9,196,821
52,516,342
292,079,438
199,740,126
92,339,313
134,687,609
92,448,497
13,298,413
1,160,397
4,799,258
22,981,044
308,287,115
54,106,161
52,911,160
1,195,001
180,731,367
70,313,972
110,417,395
73,449,587

443,804,227
234,626,351
209,177,876
387,564,218
248,302,824
137,662,269
56,240,009
28,651,091
12,650,381
16,000,710
32,619,338
39,389,074
35,623,317
(4,345,104)
2,970,199
1,529,981
176,401
25,892,456

506,447,318
245,199,789
261,247,530
425,930,509
278,202,546
146,128,839
80,516,810
28,238,869
14,101,693
14,137,176
36,296,492
32,794,015
29,723,002
29,435,383
4,867,193
4,396,050
907,088
26,127,141

713,308,283
315,109,389
398,198,893
623,050,164
468,783,088
154,267,075
90,258,119
31,769,890
17,115,484
14,654,406
48,739,302
37,043,468
33,965,395
34,823,895
7,362,292
6,279,496
707,905
8,123,227

652,649,902
314,671,858
337,978,045
595,197,817
408,575,141
186,622,676
57,452,085
36,043,700
17,504,992
18,538,708
42,077,693
36,010,913
32,010,780
(5,495,021)
6,099,055
6,473,255
257,500
30,154,846

734,958,925
356,931,787
378,027,138
641,009,101
459,439,362
181,569,739
93,949,824
38,134,827
19,291,241
18,843,587
52,022,171
29,463,182
25,534,259
39,893,250
5,505,658
8,352,232
919,392
20,043,280

248,119,467
4,626,163
(11,250,863)
154,252,653

310,439,758
102,231,308
(8,845,284)
284,916,452

343,501,965
92,647,433
20,172,139
262,780,464

357,732,088
83,250,267
21,182,108
280,677,325

385,348,813
90,833,490
(18,067,331)
276,317,663

442,974,724
93,608,894
26,035,360
293,349,020

0.46
7.47
11.97
0.77
1.11
89.49
2.08
1.33
3.83
2.57
-5.83
3.44

0.27
8.88
13.16
0.78
0.86
87.33
2.25
-0.81
-2.58
-1.56
-4.78
3.93
0.88
-0.98
0.07
-1.51
36.19

0.29
6.48
11.90
0.86
0.93
84.10
1.68
5.10
14.96
9.00
5.59
4.54
1.99
5.81
0.07
5.03
44.77

0.37
5.19
11.33
1.12
1.04
87.35
1.61
5.69
15.03
9.93
4.37
5.07
2.03
4.88
0.02
5.30
47.21

0.32
5.52
13.20
0.94
1.02
91.20
1.68
-0.83
-2.19
-1.48
-1.79
5.22
0.83
-0.84
0.07
-2.18
48.44

0.38
4.01
11.63
1.00
1.07
87.22
1.38
5.59
14.09
9.63
4.12
4.85
2.56
5.43
0.05
6.40
57.33

Items

341,072,977
220,810,198
17,833,078
102,528

277,744,869
4,621,159
111,657,992
45,946,849
63,622,133
51,896,736
250,538,128
149,626,490
100,911,638
85,972,326

4,626,163

81,346,163
162,147,141
46,973,656
45,317,698
1,655,958
115,173,485

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

383,786,985
222,647,661
161,139,324
343,454,319

40,332,666
19,619,114

19,619,114

28,671,518

6,388,872
15,991,836
1,647,899
1,638,520

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.66
0.00
-2.12
35.74

Billion Rs

Growth with Composition of Assets & Liabilities


450
400
350
300
250
200
150
100
50
0

25%
19.5% 20%
15%
10.7%

10%
5.7%

5%

0.6%

0%
-4.8%

Non-Current
Assets

Current Assets Current Liabilities

2012

-5%
Non-Current
Liabilities

2013

Shareholders
Equity

-10%

Growth

Billion Rs

Growth & Composition of Operations


2012

800
700
600
500
400
300
200
100
0
-100

826.0%

63.5%
Gross Profit

Sales 12.6%

16

14.09

14

9.63
5.59

Return on
-0.83
Assets

Return
on
-2.19
Equity

-1.48 on
Return
Capital
Employed

Percentage

Percentage

2012
2013

12

Net Profit Before Tax

Growth
900%
800%
700%
600%
500%
400%
300%
200%
100%
0%

Key Performance Indicators

Profitability/Efficiency Ratios

10
8
6
4
2
0
-2
-4

2013

7
6
5
4
3
2
1
0
-1
-2
-3

6.4

2012

5.43

2013

1.02 1.07

Current
Ratio

1.68

1.38

Debt
Equity
Ratio

Net
Profit
Margin
-0.84

Earning
Per Share
-2.18 Tax
after

SPINNING, WEAVING, FINISHING OF


TEXTILES

Financial Statement Analysis of Non Financial Sector 2013

Spinning, Weaving, Finishing of Textiles - Overall


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

185,947,125

296,182,210
34,045,125
315,068,483
214,846,714
13,108,617
5,763,501
37,048,429
4,478,441
189,575,352
4,352,467
97,303,901
51,304,545
4,518,889
32,095,550
215,619,691
159,451,486
56,168,205
116,807,535
88,695,517
13,652,353
2,832
2,305,790
12,151,043
153,330,340
40,477,057
38,682,827
1,794,230
73,737,478
17,834,249
57,221,276
39,115,805

307,476,640
29,677,989
328,982,091
216,354,052
13,870,653
5,766,634
50,370,766
5,307,199
197,137,579
4,627,865
95,384,521
55,743,092
5,156,577
36,225,524
216,090,482
156,991,813
59,098,670
101,442,835
73,266,260
12,069,260
327,832
2,562,884
13,216,600
187,080,899
43,984,054
42,865,162
1,118,892
95,647,976
26,707,328
70,258,695
47,448,869

286,456,486
8,723,346
339,363,508
221,152,160
14,495,036
134,756
53,298,917
3,147,307
245,858,702
6,766,428
114,838,582
69,037,172
15,603,280
39,613,241
237,722,882
170,560,171
67,162,710
88,905,239
58,038,196
11,710,002
5,756,495
2,765,674
10,634,872
205,687,066
46,717,343
45,233,828
1,483,515
111,665,011
37,680,695
73,984,316
47,304,712

309,610,996
8,216,965
373,191,473
247,191,059
15,309,570
814,290
50,546,011
2,842,671
267,498,197
7,641,403
105,612,820
68,854,242
5,059,465
80,330,268
264,605,772
158,950,480
105,655,292
97,312,033
64,030,432
12,537,387
1,329,583
3,039,160
16,375,471
215,191,388
47,642,997
46,259,664
1,383,333
98,006,599
41,850,750
56,155,849
69,541,792

347,023,574
11,857,481
391,636,709
260,818,409
14,669,027
813,008
71,101,081
2,433,595
260,213,323
8,339,831
127,044,418
72,423,297
9,195,034
43,210,743
243,195,959
165,798,116
77,397,844
103,047,216
65,069,414
12,300,897
1,160,397
3,710,467
20,806,041
260,993,722
47,524,290
46,329,289
1,195,001
145,484,552
63,329,053
82,155,499
67,984,880

379,656,783
192,387,413
187,269,370
327,159,251
207,236,211
118,325,859
52,497,532
24,859,270
11,109,236
13,750,035
27,738,605
34,180,706
31,390,078
(1,038,772)
2,516,494
1,190,866
176,401
19,607,143

432,589,999
197,466,932
235,123,067
361,166,822
231,231,364
128,338,276
71,423,178
24,062,433
12,541,393
11,521,040
31,376,377
29,788,043
27,142,493
23,908,587
3,872,388
3,475,263
887,931
26,817,684

607,632,817
243,956,487
363,676,330
531,351,476
396,446,888
134,904,588
76,281,341
27,098,753
15,252,618
11,846,135
44,918,470
32,592,778
29,905,253
26,121,340
6,080,067
4,975,850
73,120
8,104,904

539,056,476
232,570,700
306,485,776
491,816,657
332,398,117
159,418,540
47,239,819
31,125,789
15,365,499
15,760,290
35,943,763
29,302,309
25,868,436
(7,965,186)
5,054,079
5,448,595
257,500
27,726,077

611,327,692
261,951,993
349,375,699
530,831,773
375,754,164
155,077,609
80,495,919
32,294,263
17,063,071
15,231,193
45,161,524
24,019,179
20,487,919
33,618,660
5,139,244
7,264,347
595,682
15,316,071

210,610,533
4,626,163
(8,646,866)
133,865,584

270,137,875
88,698,349
(4,746,131)
248,149,835

288,523,733
73,594,092
16,560,935
230,585,904

294,592,305
63,794,691
15,065,422
234,354,862

312,503,421
65,360,015
(18,467,860)
224,310,495

364,040,938
66,229,811
21,215,070
232,027,927

0.47
7.65
11.86
0.77
1.12
88.49
2.00
2.06
5.85
3.91
-4.75
3.49

0.28
9.00
13.51
0.78
0.88
86.17
2.17
-0.23
-0.71
-0.43
-2.99
3.90
0.97
-0.27
0.06
-0.92
39.64

0.30
6.89
12.89
0.86
0.91
83.49
1.70
4.83
14.05
8.56
5.77
4.54
1.88
5.53
0.08
4.67
43.64

0.38
5.36
11.36
1.14
1.03
87.45
1.59
5.04
13.30
8.96
4.03
5.29
1.87
4.30
0.02
4.37
44.82

0.31
5.44
12.77
0.93
1.01
91.24
1.68
-1.44
-3.79
-2.62
-2.39
5.10
0.69
-1.48
0.08
-2.77
45.87

0.37
3.93
11.85
1.01
1.07
86.83
1.33
5.68
14.12
9.94
3.92
4.81
2.64
5.50
0.04
6.04
55.31

Items

274,213,189
185,891,248
14,311,281
55,877

229,071,376
3,642,405
91,188,102
37,788,215
53,921,970
42,530,684
204,407,968
129,239,421
75,168,547
72,400,336

4,626,163

67,774,173
138,210,197
36,712,180
35,056,222
1,655,958
101,498,017

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

318,620,537
176,835,067
141,785,470
281,932,787

36,687,750
16,426,107

16,426,107

24,362,278

8,246,877
15,391,119
1,502,624
625,933

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.59
0.00
-2.04
39.37

11

Billion Rs

Growth with Composition of Assets & Liabilities

400
350
300
250
200
150
100
50
0

25%

21.3% 20%
15%

12.1%

10%
5.9%

5%
0%

-2.7%

-5%

-8.1%
Non-Current
Assets

Current Assets Current Liabilities

2012

Non-Current
Liabilities

2013

-10%

Shareholders
Equity

Growth

Growth & Composition of Operations


2012

700

2013

600

Growth
600%
522.1%

500

400%

Billion Rs

400
300

300%

200

200%

100
0

70.4%
Gross Profit

Sales 13.4%

-100

Net Profit Before Tax

0%

2012

16

14.12

14
12

2012
2013
9.94

Percentage

Percentage

100%

Key Performance Indicators

Profitability/Efficiency Ratios

10
8
6
4
2
0
-2
-4

500%

5.68

Return on
-1.44
Assets

Return on
Equity
-3.79

Return on
-2.62
Capital
Employed

7
6
5
4
3
2
1
0
-1
-2
-3

6.04

5.5

1.01 1.07

Current
Ratio

1.68

2013

1.33

Debt
Equity
Ratio

Net

Profit
-1.48

Margin

Earning
Per Share
after Tax
-2.77

Financial Statement Analysis of Non Financial Sector 2013

(Colony) Sarhad Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

385,645

189,040
0
209,629
177,746
4,020
0
11,000
294
235,860
50
83,964
42
0
151,804
209,655
0
209,655
355,331
0
62,427
0
1,283
291,622
(140,086)
40,000
40,000
0
(344,425)
7,252
(351,677)
164,339

354,839
0
357,933
349,251
931
0
5,500
88
23,634
164
2,706
39
2,780
17,945
169,765
0
169,765
66,230
0
64,883
0
1,347
0
142,478
40,000
40,000
0
(233,540)
1,752
(235,292)
336,018

353,027
0
357,454
347,439
1,808
0
5,500
88
13,770
228
0
44
1,500
11,999
180,003
0
180,003
68,684
0
67,338
0
1,346
0
118,110
40,000
40,000
0
(256,265)
1,752
(258,017)
334,375

291,208
0
296,354
285,621
835
0
5,500
87
14,128
416
0
0
1,500
12,212
196,336
0
196,336
69,646
0
68,300
0
1,346
0
39,354
40,000
40,000
0
(273,556)
1,752
(275,308)
272,910

291,208
0
296,354
285,621
835
0
5,500
87
14,128
416
0
0
1,500
12,212
196,336
0
196,336
69,646
0
68,300
0
1,346
0
39,354
40,000
40,000
0
(273,556)
1,752
(275,308)
272,910

0
0
0
0
0
0
0
13,275
0
13,275
4,226
7,050
6,689
(72,497)
0
0
0
(7,037)

0
0
0
0
0
0
0
11,448
0
11,448
5,163
7,080
1,455
(14,498)
0
0
0
(7,204)

0
0
0
0
0
0
0
12,469
0
12,469
4,913
7,099
1,455
(24,340)
2
0
0
(6,097)

0
0
0
0
0
0
0
11,317
0
11,317
938
7,027
6,596
(17,856)
0
0
0
(10,261)

0
0
0
0
0
0
0
11,317
0
11,317
938
7,027
6,596
(17,856)
0
0
0
(10,261)

353,882
0
(14,800)
0

215,245
0
(72,497)
0

208,707
0
(14,498)
0

186,794
0
(24,342)
0

109,000
0
(17,856)
0

109,000
0
(17,856)
0

0.07

0.00

0.02

0.01

0.01

0.01

0.00
0.87

0.00
1.12

0.00
0.14

0.00
0.08

0.00
0.07

0.00
0.07

Items

509,770
385,645
913
0

216,025
223
83,964
50
16,490
115,298
247,788
0
247,788
304,665

304,665
49,217
40,000
40,000
0
9,217

F.Operation:
0
0
0
5,567

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

(5,567)
3,315

3,315

7,046

(14,800)
0
0
32,500

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

11.22
-2.48
-28.89
-6.81

-4.03
-14.12
159.56
-25.48

1.66
-3.61
-1,212.48
-6.84

2.11
-6.53
-18.68
-12.31

6.76
-5.31
-22.68
-12.07

6.76
-5.85
-45.37
-16.38

0.00

0.00
-9.84

0.00
-8.96

-15.72

-1.71

-1.71

-0.01
-18.12
-35.02

-0.03
-3.62
35.62

-0.02
-6.09
29.53

-0.04
-4.46
9.84

-0.04
-4.46
9.84

0.00
-3.70
12.30

13

Financial Statement Analysis of Non Financial Sector 2013

(Colony) Thal Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

368,221

352,319
0
445,902
322,228
12,691
0
0
30,091
104,176
3,956
56,873
20,384
0
22,962
179,489
78,462
101,028
242,819
199,204
43,402
0
213
0
34,187
55,688
55,688
0
(155,013)
17,887
(172,900)
133,512

544,875
0
626,491
487,513
15,304
0
0
57,362
92,715
4,923
39,345
19,535
0
28,913
158,353
51,052
107,301
271,153
192,291
52,429
0
213
26,220
208,084
55,688
55,688
0
(159,126)
17,887
(177,013)
311,522

534,311
0
593,997
439,631
15,387
0
0
94,680
124,733
1,253
89,213
5,071
0
29,196
137,656
77,750
59,907
319,681
119,536
44,970
0
196
154,979
201,707
55,688
55,688
0
(159,965)
17,887
(177,852)
305,984

534,311
0
593,997
439,631
15,387
0
0
94,680
124,733
1,253
89,213
5,071
0
29,196
137,656
77,750
59,907
319,681
119,536
44,970
0
196
154,979
201,707
55,688
55,688
0
(159,965)
17,887
(177,852)
305,984

534,311
0
593,997
439,631
15,387
0
0
94,680
124,733
1,253
89,213
5,071
0
29,196
137,656
77,750
59,907
319,681
119,536
44,970
0
196
154,979
201,707
55,688
55,688
0
(159,965)
17,887
(177,852)
305,984

120,620
120,620
0
132,840
105,101
27,739
(12,220)
8,814
44
8,770
7,814
28,117
27,850
(34,709)
0
0
0
(11,531)

445,620
445,620
0
432,191
300,489
131,703
13,429
9,365
41
9,324
35,864
13,740
13,530
(3,949)
2,228
0
0
(5,316)

703,604
703,604
0
687,046
570,115
116,931
16,558
12,152
50
12,103
53,633
2,395
2,106
3,895
7,036
0
0
(39,328)

703,604
703,604
0
687,046
570,115
116,931
16,558
12,152
50
12,103
53,633
2,395
2,106
3,895
7,036
0
0
(39,328)

703,604
703,604
0
687,046
570,115
116,931
16,558
12,152
50
12,103
53,633
2,395
2,106
3,895
7,036
0
0
(39,328)

276,883
0
(34,432)
73,290

277,005
199,204
(34,709)
277,666

479,237
192,291
(6,177)
243,343

521,388
119,536
(3,141)
197,286

521,388
119,536
(3,141)
197,286

521,388
119,536
(3,141)
197,286

0.13
6.37
6.02
0.79
0.53
99.78
5.40
-6.56
-35.78
-9.86

0.14
23.31
16.90
0.26
0.58
110.13
12.35
-7.48
-64.29
-12.53

0.15
3.08
4.38
0.70
0.59
96.99
2.06
-0.72
-3.26
-1.04

0.05
0.34
0.72
1.07
0.91
97.65
2.27
0.70
3.30
0.98

0.05
0.34
0.72
1.07
0.91
97.65
2.27
0.59
1.93
0.75

0.05
0.34
0.72
1.07
0.91
97.65
2.27
0.59
1.93
0.75

Items

479,600
368,221
13,389
0

103,719
3,252
52,575
22,567
0
25,325
195,057
73,290
121,767
203,095

203,095
73,788
55,687
55,687
0
18,101

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

374,912
374,912
0
374,101

811
9,501

9,501

23,867

(32,557)
1,875
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

7.13

2.12
-0.25
-28.78
-0.03
-6.23
6.14

11.33
0.71
-0.89
-0.01
-1.11
37.37

7.89
2.85
0.55
-0.09
-0.56
36.22

7.89
2.85
0.55
-0.09
-0.56
36.22

7.89
2.85
0.55
-0.09
-0.56
36.22

-8.68
0.00
-6.18
13.25

14

Financial Statement Analysis of Non Financial Sector 2013

Adil Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

433,323

417,138
2,192
740,208
412,722
18,408
0
0
2,224
45,701
45
3,933
16,487
0
25,236
299,343
191,536
107,807
176,659
0
174,771
0
1,888
0
(13,163)
77,258
77,258
0
(256,491)
0
(256,491)
166,070

399,655
2,192
740,208
395,240
17,482
0
0
2,223
38,487
45
0
16,487
0
21,955
287,854
179,947
107,907
178,657
0
176,769
0
0
1,888
(28,369)
77,258
77,258
0
(265,681)
0
(265,681)
160,054

383,044
2,192
740,208
378,629
16,611
0
0
2,223
38,487
45
0
16,487
0
21,955
287,954
179,947
108,007
184,960
0
183,071
0
0
1,889
(51,383)
77,258
77,258
0
(282,956)
0
(282,956)
154,315

292,268
0
373,548
292,268
15,731
0
0
0
9,204
344
0
0
0
8,860
279,088
154,631
124,457
188,731
0
186,843
0
0
1,888
(166,347)
77,258
77,258
0
(413,639)
0
(413,639)
170,034

277,888
0
656,025
277,888
9,380
0
0
0
9,204
344
0
0
0
8,860
206,761
154,631
52,130
193,596
0
191,708
0
0
1,888
(113,265)
77,258
77,258
0
(358,184)
0
(358,184)
167,661

0
0
0
34,554
0
34,554
(34,554)
2,000
0
2,000
749
1,827
1,827
(38,381)
0
0
0
(948)

3,595
3,595
0
21,019
3,888
17,131
(17,424)
2,494
0
2,494
1,248
0
0
(19,918)
0
0
0
4,878

0
0
0
20,612
0
20,612
(20,612)
2,402
0
2,402
1,213
0
0
(23,014)
0
0
0
(6,070)

0
0
0
0
0
0
0
143,053
0
143,053
1,621
980
980
(134,147)
0
0
0
(3,772)

0
0
0
0
0
0
0
14,245
0
14,245
1,719
0
0
53,082
0
0
0
(4,865)

48,830
0
(25,916)
41,657

163,496
0
(38,381)
191,536

150,288
0
(19,918)
179,947

133,577
0
(23,014)
179,947

22,384
0
(134,147)
154,631

80,331
0
53,082
154,631

0.04
3.51
37.35
0.09
0.14
141.60
18.76
-4.94
-67.28
-33.45

0.06

0.06
0.00
458.61
0.01
0.13
584.67
-16.44
-4.42
95.92
-12.70

0.06

0.00

0.00

0.00
0.13

0.00
0.03

0.00
0.04

Items

740,208
433,323
20,454
0

64,890
49
17,643
16,487
0
30,711
449,383
41,657
407,726
23,612

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

23,612
25,218
77,258
77,258
0
(52,040)

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

44,137
44,137
0
62,497

(18,360)
5,929

5,929

1,548

(25,685)
231
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.00
0.15

-36.16
-7.99
-636.77
-36.15

2.50

0.00
-20.01

-58.19
0.00
-3.35
3.26

15

0.00
-4.97
-1.70

-554.05
0.01
-2.58
-3.67

-9.20
-5.35
57.71
-16.21

-2.81
-37.11
123.22
-172.03

-3.53
18.04
-37.97
103.36

-0.01
-17.36
-21.53

-0.01
6.87
-14.66

-0.01
-2.98
-6.65

-135.88

Financial Statement Analysis of Non Financial Sector 2013

Ahmed Hassan Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

2,017,040

1,954,829
0
2,773,973
1,949,987
103,502
0
260
4,582
1,005,863
1,781
688,559
233,831
0
81,692
1,362,550
1,103,087
259,463
856,360
636,443
105,000
0
0
114,917
741,782
144,082
144,082
0
69,839
32,746
37,093
527,861

1,670,722
0
2,237,913
1,665,880
101,271
0
260
4,582
1,161,102
1,080
614,809
199,998
0
345,215
1,234,835
943,802
291,033
757,070
547,812
105,000
0
0
104,258
839,919
144,082
144,082
0
151,823
32,746
119,077
544,015

1,640,112
18,049
2,232,866
1,582,832
87,721
0
259
38,971
1,058,493
5,470
499,145
373,370
0
180,507
1,085,949
757,878
328,071
600,519
365,414
105,000
0
0
130,105
1,012,137
144,082
144,082
0
434,828
32,746
402,082
433,227

1,651,752
66,145
2,280,033
1,546,168
84,387
0
259
39,180
899,568
3,667
458,638
244,239
20,394
172,630
916,145
670,143
246,002
544,827
253,636
105,000
0
0
186,191
1,090,348
144,082
144,082
0
529,586
32,746
496,840
416,680

2,376,299
136,757
3,010,725
2,200,103
89,754
0
259
39,180
905,758
17,937
492,999
227,225
0
167,597
899,727
611,452
288,275
521,577
226,087
105,000
0
0
190,490
1,860,753
144,082
144,082
0
675,819
32,746
643,073
1,040,852

2,736,386
1,458,634
1,277,752
2,437,948
1,774,982
662,966
298,437
94,074
68,647
25,427
142,741
296,767
243,487
(86,495)
12,619
0
0
194,072

3,392,153
1,401,779
1,990,374
2,972,176
2,306,177
665,999
419,977
139,926
111,598
28,328
170,585
226,558
212,888
57,835
19,904
0
0
512,784

3,991,815
1,490,932
2,500,883
3,406,318
2,574,279
832,039
585,497
179,238
136,514
42,724
161,554
176,763
174,421
235,895
37,829
18,010
0
134,849

3,376,916
1,541,268
1,835,648
2,951,995
2,344,687
607,308
424,921
139,376
99,462
39,914
139,215
117,053
109,412
167,615
33,641
18,010
0
311,253

4,015,813
1,234,276
2,781,537
3,568,467
2,773,814
794,653
447,346
191,303
137,548
53,755
191,107
85,757
81,553
182,259
38,442
21,612
0
283,330

1,512,214
0
(116,870)
897,039

1,598,141
636,443
(99,114)
1,739,530

1,596,989
547,812
37,931
1,491,614

1,612,656
365,414
180,056
1,123,292

1,635,175
253,636
115,964
923,779

2,382,330
226,087
122,205
837,539

0.12
7.37
6.33
0.89
0.63
91.95
2.43
-4.39
-17.20
-8.88

0.17
10.85
8.55
0.92
0.74
89.09
2.99
-2.97
-10.97
-5.56

0.16
6.68
5.90
1.20
0.94
87.62
2.37
2.00
7.31
3.62

0.35
4.43
9.35
1.48
0.97
85.33
1.67
8.53
25.47
14.70
11.00
8.00
2.35
5.91
0.08
13.75
70.25

0.29
3.47
7.23
1.32
0.98
87.42
1.34
6.39
15.94
10.32
7.44
7.36
2.53
4.96
0.21
9.30
75.68

0.27
2.14
5.66
1.22
1.01
88.86
0.76
6.25
12.35
9.07
6.65
8.15
3.23
4.54
0.20
9.98
129.15

Items

2,651,459
2,017,040
121,313
0

852,983
1,037
582,795
161,740
260
107,151
1,357,809
897,039
460,770
676,608

676,608
835,606
144,082
144,082
0
691,524

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,556,339
1,279,792
1,276,547
2,350,486

205,853
123,147

123,147

188,339

(103,687)
13,183
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.39

3.97
0.64
-3.16
0.09
-6.88
51.48

5.52
1.27
1.70
0.26
2.63
58.29

-4.06
0.00
-8.11
58.00

16

Financial Statement Analysis of Non Financial Sector 2013

Al-Qadir Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

398,956

380,742
0
490,256
380,296
25,685
0
0
446
197,867
7,250
163,248
3,334
0
24,035
198,358
151,000
47,358
72,909
0
0
0
3,299
69,610
307,342
75,600
75,600
0
138,710
15,923
122,787
93,032

497,617
0
505,694
497,173
24,206
0
0
445
145,642
51,718
44,284
26,552
0
23,089
93,015
0
93,015
114,041
0
0
0
5,141
108,900
436,203
75,600
75,600
0
172,516
15,923
156,593
188,087

491,152
0
531,896
490,707
33,667
0
0
445
189,644
57,522
70,241
17,024
0
44,857
130,645
0
130,645
88,264
0
0
0
5,980
82,285
461,887
75,600
75,600
0
188,098
15,923
172,175
198,189

464,223
0
534,502
463,233
32,436
0
0
990
250,712
20,738
146,972
31,314
0
51,688
161,893
60,281
101,612
86,452
0
0
0
5,410
81,042
466,590
75,600
75,600
0
201,423
15,923
185,500
189,567

469,893
0
569,639
468,903
30,742
0
0
990
249,074
34,843
113,743
16,814
0
83,674
124,866
0
124,866
74,413
0
0
0
4,274
70,139
519,688
75,600
75,600
0
256,064
15,923
240,141
188,024

761,897
595,787
166,110
705,901
523,894
182,007
55,995
18,113
5,898
12,215
48,089
31,117
28,365
10,733
6,532
0
0
22,769

1,106,614
909,480
197,134
998,647
714,000
284,648
107,967
32,077
12,265
19,812
84,973
23,497
21,649
53,325
20,308
7,560
0
197,585

1,608,282
974,387
633,895
1,501,531
1,218,668
282,864
106,750
56,690
40,466
16,224
83,359
27,809
22,118
22,956
13,795
0
0
39,047

1,453,021
900,932
552,089
1,360,656
1,086,650
274,006
92,365
48,418
32,577
15,841
74,572
29,620
23,708
14,655
11,194
0
0
(92,145)

1,819,084
989,095
829,989
1,667,344
1,279,572
387,772
151,740
66,814
45,644
21,170
118,119
31,951
21,733
53,374
13,196
0
0
108,736

156,791
0
(13,426)
162,000

380,250
0
4,201
151,000

550,244
0
25,457
0

550,151
0
9,161
0

553,042
0
3,461
60,281

594,101
0
40,178
0

0.01
3.43
0.03
1.35
0.47
95.21
5.85
-1.87
-5.40
-4.64

0.05
4.08
0.44
1.32
1.00
92.65
0.88
1.80
5.41
4.00

0.84
2.12
2.40
1.72
1.57
90.24
0.47
8.73
14.34
11.46
4.37
24.99
3.46
4.82
0.95
4.37
57.70

0.57
1.73
1.06
2.36
1.45
93.36
0.47
3.47
5.11
4.17

0.32
2.04
2.16
2.03
1.55
93.64
0.53
2.10
3.16
2.66

0.41
1.76
0.92
2.53
1.99
91.66
0.38
7.44
10.82
9.31

Items

482,163
398,956
27,585
0

212,764
6,024
182,471
265
0
24,004
454,929
162,000
292,929
67,455

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

67,455
89,336
75,600
75,600
0
13,736

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

828,570
603,434
225,136
788,898

39,672
17,848

17,848

28,405

(11,186)
2,240
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.54

4.67
1.38
1.41
0.08
0.56
40.65

-1.35
0.00
-1.78
11.82

17

22.90
2.04
1.43
0.18
1.21
61.10

9.89
1.62
1.01
-0.37
0.46
61.72

15.99
3.46
2.93
0.55
5.31
68.74

Financial Statement Analysis of Non Financial Sector 2013

Ali Asghar Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

864,345

844,489
0
1,018,314
829,167
25,656
0
0
15,322
255,322
574
110,228
103,326
0
41,195
554,915
354,932
199,983
321,365
314,244
0
0
7,121
0
223,531
222,133
222,133
0
(567,383)
0
(567,383)
568,781

832,017
0
1,002,789
817,113
23,953
0
0
14,904
312,171
1,916
134,318
111,477
0
64,460
425,726
239,575
186,150
468,695
461,384
0
0
7,312
0
249,767
222,133
222,133
0
(535,608)
0
(535,608)
563,242

802,612
0
1,024,979
796,239
23,111
0
0
6,373
206,792
338
77,061
69,007
0
60,387
340,803
182,511
158,292
429,779
417,414
3,449
0
8,916
0
238,822
222,133
222,133
0
(541,387)
0
(541,387)
558,075

439,689
0
600,241
431,988
7,929
0
5,000
2,701
38,237
4,208
8,350
145
0
25,534
64,751
28,477
36,274
71,983
68,551
2,247
0
1,185
0
341,192
222,133
222,133
0
(145,726)
0
(145,726)
264,785

408,116
0
569,097
401,684
12,899
0
3,750
2,682
59,483
7,186
1,622
912
0
49,763
72,883
21,684
51,199
68,547
65,090
894
0
2,131
432
326,169
222,133
222,133
0
(159,511)
0
(159,511)
263,547

505,458
495,197
10,261
574,641
345,926
228,715
(69,183)
29,768
7,656
22,112
74,203
97,204
86,131
(195,497)
103
0
0
(13,798)

685,088
674,773
10,315
608,818
431,665
177,153
76,270
18,741
655
18,086
81,015
29,846
29,496
29,715
3,479
0
0
33,335

930,360
850,665
79,695
1,042,424
774,906
267,517
(112,064)
21,007
2,102
18,905
87,407
131,186
122,215
(264,009)
9,309
0
0
(14,568)

44,110
44,110
0
138,876
53,514
85,362
(94,766)
34,665
258
34,407
15,869
6
0
102,812
441
0
0
74,527

4,478
4,478
0
25,398
8,556
16,842
(20,920)
14,275
2
14,273
5,309
30
0
(15,022)
0
0
0
(5,852)

745,931
0
(40,164)
218,026

544,896
314,244
(195,599)
669,176

718,462
461,384
26,236
700,959

668,600
417,414
(273,318)
599,925

413,175
68,551
102,371
97,028

394,716
65,090
(15,022)
86,774

0.00
14.24
0.00
0.39
0.76
89.28
1.95
-3.05
-8.90
-5.14

0.19
19.23
20.44
0.46
0.46
113.69
3.92
-16.75
-60.84
-30.29

0.27
4.36
16.27
0.60
0.73
88.87
3.58
2.65
12.56
4.70

0.20
14.10
7.42
0.92
0.61
112.05
3.23
-24.52
-108.07
-38.07

0.07
0.01
0.33
0.09
0.59
314.84
0.40
13.83
35.45
19.01

0.11
0.67
20.37
0.01
0.82
567.17
0.43
-3.18
-4.50
-3.72

Items

1,002,928
864,345
26,885
0

370,275
1,541
184,950
0
0
183,784
488,689
218,026
270,663
326,801

326,801
419,130
222,133
222,133
0
196,997

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

485,802
481,017
4,785
433,709

52,093
28,952

28,952

69,191

(37,735)
2,429
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.63

4.59
-1.27
-38.68
-0.02
-8.81
10.06

5.10
2.01
4.34
0.04
1.18
11.24

12.07
-1.16
-28.38
-0.02
-12.30
10.75

5.28

2.76

-7.77
0.00
-0.90
9.43

18

233.08
0.55
4.61
15.36

-335.46
-0.04
-0.68
14.68

Financial Statement Analysis of Non Financial Sector 2013

Allawasaya Textile & Finishing Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

208,983

268,345
0
500,018
264,021
26,794
0
2,256
2,068
302,191
3,875
184,210
93,900
1
20,205
340,284
289,014
51,270
107,258
89,585
0
0
0
17,673
122,994
8,000
8,000
0
66,646
2,669
63,977
48,348

251,362
0
506,151
247,040
28,325
0
2,255
2,068
222,619
472
91,979
107,431
1
22,736
198,414
127,033
71,381
113,245
67,648
0
0
0
45,597
162,322
8,000
8,000
0
111,023
2,668
108,355
43,300

277,687
0
554,193
274,480
30,722
0
1,097
2,110
381,937
6,529
222,909
105,689
1,157
45,653
324,807
218,548
106,259
145,797
80,567
0
0
0
65,230
189,020
8,000
8,000
0
142,234
2,669
139,566
38,785

256,955
0
561,610
254,327
29,426
0
519
2,109
300,586
6,554
139,418
117,830
579
36,205
230,337
124,468
105,869
104,807
45,955
0
0
0
58,852
222,397
8,000
8,000
0
179,626
2,669
176,957
34,771

519
2,109
298,700
723
158,714
111,376
0
27,887
192,769
43,694
149,075
163,475
11,343
0
0
0
152,132
757,352
8,000
8,000
0
263,615
2,669
260,946
485,737

1,067,020
1,067,020
0
1,013,541
787,838
225,703
53,479
24,415
2,280
22,135
70,920
68,778
66,263
(39,393)
0
0
0
27,283

1,464,365
1,464,365
0
1,303,842
989,066
314,776
160,523
42,527
3,775
38,752
110,583
44,462
43,374
74,574
7,322
5,800
0
191,288

2,195,229
2,195,229
0
2,013,065
1,781,834
231,231
182,164
49,109
7,607
41,502
112,534
59,821
56,853
76,460
21,952
8,200
0
(37,563)

2,066,232
2,066,232
0
1,903,476
1,455,851
447,625
162,756
49,140
6,586
42,554
118,220
51,592
50,321
64,634
28,474
8,200
0
144,083

2,038,915
2,038,915
0
1,820,065
1,400,219
419,846
218,850
71,626
8,231
63,395
173,231
26,153
23,462
121,467
41,934
16,200
0
155,696

168,308
0
(35,373)
329,406

230,252
89,585
(39,393)
378,599

275,567
67,648
61,453
194,681

334,817
80,567
46,308
299,115

327,204
45,955
27,960
170,423

920,827
11,343
63,333
55,037

0.14
3.03
5.72
1.57
0.89
97.98
5.59
-7.49
-29.88
-21.25

0.29
6.45
8.80
1.87
0.89
94.99
3.64
-7.01
-38.08
-19.77

0.54
3.04
7.34
3.09
1.12
89.04
1.92
14.28
52.27
29.49
11.60
15.92
2.72
5.09
0.61
84.07
202.90

0.35
2.73
4.81
3.33
1.18
91.70
2.49
13.49
43.52
25.05
6.65
9.85
2.34
3.48
-0.08
68.14
236.27

0.54
2.50
5.70
3.71
1.30
92.12
1.51
10.62
31.42
19.53
4.41
14.82
2.28
3.13
0.43
45.20
278.00

0.58
1.28
5.46
1.83
1.55
89.27
0.47
14.54
24.80
19.47
4.91
12.85
6.18
5.96
0.44
99.42
946.69

Items

407,774
208,983
11,672
0

343,778
3,059
255,594
49,503
2,256
33,366
384,453
329,406
55,047
84,430

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

84,430
83,878
8,000
8,000
0
75,878

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

814,896

812,268
812,268
29,954

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

865,665
865,665
0
848,196

17,469
22,814

22,814

26,199

(31,045)
4,328
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.39

5.79
0.41
-3.69
0.06
-49.24
153.74

-3.59
0.00
-44.22
104.85

19

Financial Statement Analysis of Non Financial Sector 2013

Amtex Ltd.
Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

5,657,978
634,332
4,696,802
4,985,475
260,419
10,703
0
27,468
12,395,153
144,263
6,456,145
3,993,788
0
1,800,957
9,888,898
8,528,844
1,360,054
923,378
893,641
0
0
29,737
0
7,240,855
902,451
902,451
0
3,867,410
98,039
3,769,371
2,470,995

5,872,068
844,948
5,053,154
4,997,349
345,680
8,324
0
21,447
13,248,086
145,465
6,541,818
4,583,263
0
1,977,540
9,802,055
8,428,585
1,373,471
553,731
184,601
0
325,000
44,130
0
8,764,368
2,414,901
2,414,901
0
4,008,559
281,039
3,727,520
2,340,908

5,524,844
80,948
6,136,755
5,415,069
340,854
5,946
0
22,881
12,703,617
132,934
5,158,262
5,993,470
0
1,418,951
11,079,955
9,080,535
1,999,420
250,112
50,000
0
108,333
49,394
42,385
6,898,394
2,594,301
2,594,301
0
2,150,431
281,039
1,869,392
2,153,662

5,194,290
106,672
6,119,153
5,065,951
337,424
3,568
0
18,099
11,685,043
134,889
4,763,506
5,535,315
0
1,251,333
10,382,884
7,678,973
2,703,911
2,297,239
1,926,723
0
0
47,358
323,158
4,199,210
2,594,301
2,594,301
0
(420,710)
281,040
(701,750)
2,025,619

5,081,096
63,322
5,209,750
4,984,065
322,706
1,189
0
32,520
10,400,122
136,308
3,727,385
5,324,042
0
1,212,387
11,072,925
7,817,759
3,255,166
2,313,566
1,838,047
0
0
35,020
440,499
2,094,727
2,594,302
2,594,301
1
(2,576,498)
281,039
(2,857,537)
2,076,923

14,119,588
940,545
13,179,043
10,731,034
6,803,435
3,927,599
3,388,554
760,764
560,159
200,605
673,854
1,577,759
1,449,667
1,055,163
133,759
0
0
155,377

11,066,129
883,152
10,182,977
8,119,352
5,089,003
3,030,349
2,946,777
657,275
439,559
217,717
550,539
1,457,787
1,337,048
833,808
103,295
0
724,470
170,300

6,426,927
878,082
5,548,845
6,601,321
5,963,872
637,449
(174,394)
346,437
207,295
139,142
459,299
1,331,605
1,293,028
(1,815,641)
51,197
0
0
(253,461)

3,001,816
1,036,173
1,965,643
2,950,805
1,323,280
1,627,525
51,011
1,427,433
44,153
1,383,280
325,578
1,316,363
1,292,834
(2,688,570)
10,615
0
0
(251,129)

2,485,357
1,418,436
1,066,921
3,202,970
1,638,551
1,564,419
(717,613)
746,448
21,247
725,201
276,471
913,965
903,123
(2,315,750)
6,307
0
0
83,324

8,164,233
893,641
921,403
9,422,485

9,318,099
509,601
730,513
8,938,186

7,148,506
158,333
(1,866,838)
9,238,868

6,496,449
1,926,723
(2,699,185)
9,605,696

4,408,293
1,838,047
(2,322,057)
9,655,806

0.42
11.17
28.29
0.78
1.25
76.00
1.49
5.84
14.57
12.92

0.48
13.17
41.42
0.58
1.35
73.37
1.18
4.49
10.42
9.54

0.55
20.72
93.26
0.35
1.15
102.71
1.64
-9.72
-23.18
-22.05

0.55
43.85
184.40
0.18
1.13
98.30
3.02
-15.32
-48.45
-39.41

0.49
36.77
214.22
0.16
0.94
128.87
6.39
-14.31
-73.59
-42.47

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

20

2.19
1.73
7.47
0.01
10.21
80.24

1.69
1.62
7.53
0.02
3.03
36.29

1.25
-0.40
-28.25
-0.02
-7.20
26.59

0.63
-1.08
-89.56
-0.02
-10.40
16.19

0.67
-1.56
-93.18
0.01
-8.95
8.07

Financial Statement Analysis of Non Financial Sector 2013

Annoor Textile Mills Ltd.


Items
A.Non-Current Assets (A1+A3+A5+A6+A7)

2009

2010

2011

20,218

18,700
0
36,865
18,216
2,003
0
0
485
16,387
234
0
7,061
0
9,092
37,554
0
37,554
19,383
0
19,383
0
0
0
(21,850)
8,712
8,712
0
(30,562)
0
(30,562)
0

16,898
0
36,865
16,413
1,803
0
0
485
16,405
253
0
7,061
0
9,091
37,554
0
37,554
19,833
0
19,833
0
0
0
(24,084)
8,712
8,712
0
(32,796)
0
(32,796)
0

15,274
0
36,865
14,789
1,623
0
0
485
16,406
254
0
7,061
0
9,091
37,553
0
37,553
20,048
0
20,048
0
0
0
(25,921)
8,712
8,712
0
(34,633)
0
(34,633)
0

13,813
0
36,865
13,328
1,461
0
0
485
16,408
255
0
7,061
0
9,092
37,629
0
37,629
20,188
0
20,188
0
0
0
(27,596)
8,712
8,712
0
(36,308)
0
(36,308)
0

13,813
0
36,865
13,328
1,461
0
0
485
16,408
255
0
7,061
0
9,092
37,629
0
37,629
20,188
0
20,188
0
0
0
(27,596)
8,712
8,712
0
(36,308)
0
(36,308)
0

0
0
0
0
0
0
0
2,493
0
2,493
0
0
0
(2,493)
0
0
0
(491)

0
0
0
0
0
0
0
2,235
0
2,235
0
0
0
(2,235)
0
0
0
(431)

0
0
0
0
0
0
0
1,837
0
1,837
0
0
0
(1,837)
0
0
0
(214)

0
0
0
0
0
0
0
1,675
0
1,675
0
0
0
(1,675)
0
0
0
(139)

0
0
0
0
0
0
0
1,675
0
1,675
0
0
0
(1,675)
0
0
0
(139)

(5,946)
0
(121)
0

(2,467)
0
(2,493)
0

(4,251)
0
(2,235)
0

(5,873)
0
(1,837)
0

(7,408)
0
(1,675)
0

(7,408)
0
(1,675)
0

0.16

0.19

0.19

0.19

0.19

0.19

0.00
0.39

0.00
0.44

0.00
0.44

0.00
0.44

0.00
0.44

0.00
0.44

1.Capital work in progress


2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

36,865
20,218
2,225
0

16,430
240
0
6,661
0
9,529
42,594
0
42,594
18,898

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

18,898
(24,844)
8,712
8,712
0
(33,556)

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

F.Operation:
0
0
0
0

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

0
121

121

(121)
0
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

21

-2.48
-0.32
0.51
1.05

-2.61
-6.95
10.68
59.27

-2.38
-6.53
9.73
66.53

-2.22
-5.65
7.35
36.29

-2.10
-5.41
6.26
25.22

-2.10
-5.54
6.07
22.61

0.00
-0.07
-14.26

-0.01
-2.86
-25.08

-0.01
-2.56
-27.64

0.00
-1.05
-14.88

0.00
-0.96
-15.84

0.00
-0.96
-15.84

Financial Statement Analysis of Non Financial Sector 2013

Apollo Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,561,264

1,443,632
0
1,922,858
1,437,801
129,194
0
0
5,831
1,659,504
12,133
1,430,647
52,273
0
164,451
1,952,051
1,438,238
513,813
497,916
414,041
1,086
0
7,194
75,596
653,169
82,847
82,847
0
193,674
0
193,674
376,648

1,374,710
0
1,922,503
1,319,642
118,133
0
0
55,068
1,695,981
8,948
1,461,530
82,291
0
143,212
1,897,159
1,370,746
526,413
518,603
401,041
16,153
0
8,071
93,338
654,929
82,847
82,847
0
237,596
0
237,596
334,486

1,286,386
0
1,930,679
1,219,319
108,500
0
0
67,067
1,588,583
3,180
1,353,841
77,247
0
154,315
1,720,307
1,239,808
480,499
530,983
399,641
16,153
0
5,563
109,626
623,679
82,847
82,847
0
241,031
0
241,031
299,801

1,198,944
0
1,942,836
1,131,855
99,620
0
0
67,089
1,731,033
1,684
1,359,364
128,139
0
241,846
1,734,323
1,231,544
502,779
562,876
398,460
0
0
9,543
154,873
632,778
82,847
82,847
0
274,498
0
274,498
275,433

1,106,894
0
1,942,836
1,039,805
92,050
0
0
67,089
1,825,849
20,711
1,250,247
337,357
0
217,534
1,719,441
1,231,544
487,897
545,742
398,460
0
0
12,395
134,887
667,560
82,847
82,847
0
323,797
0
323,797
260,916

821,057
735,065
85,992
758,734
594,142
164,592
62,323
60,141
8,618
51,523
105,477
57,781
55,702
(55,599)
1,520
0
0
43,883

1,211,951
1,184,930
27,021
1,121,187
736,708
384,479
90,764
50,755
5,975
44,780
112,551
40,396
38,413
(384)
6,087
0
0
111,357

1,549,630
1,413,985
135,645
1,480,456
953,566
526,890
69,174
45,319
7,096
38,223
112,055
23,298
21,370
575
15,538
0
0
146,747

1,819,835
1,295,864
523,971
1,684,870
1,156,619
528,251
134,965
61,307
18,080
43,227
130,745
2,044
0
71,777
17,804
0
0
36,280

3,032,855
936,699
2,096,156
2,890,655
2,196,961
693,694
142,200
70,795
33,132
37,663
192,618
17,592
0
54,536
25,469
0
0
19,027

1,075,043
0
(51,947)
1,391,277

1,151,086
414,041
(57,119)
1,852,279

1,173,532
401,041
(6,471)
1,771,787

1,154,662
399,641
(14,963)
1,639,449

1,195,654
398,460
53,973
1,630,004

1,213,302
398,460
29,067
1,630,004

0.07
20.06
10.64
0.37
0.76
79.05
3.31
-1.46
-6.31
-3.59

0.03
7.04
6.37
0.26
0.85
92.41
3.75
-1.80
-8.15
-5.00

0.05
3.33
6.79
0.39
0.89
92.51
3.69
-0.01
-0.06
-0.03

0.05
1.50
4.98
0.54
0.92
95.54
3.61
0.02
0.09
0.05

0.07
0.11
7.04
0.62
1.00
92.58
3.63
2.47
11.43
6.11

0.21
0.58
11.12
1.03
1.06
95.31
3.39
1.86
8.39
4.53

Items

1,918,256
1,561,264
126,351
0

1,504,190
9,873
1,201,697
121,009
5,724
165,887
1,990,411
1,391,277
599,134
363,303

363,303
711,740
82,847
82,847
0
628,893

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,137,616
524,624
612,992
899,293

238,323
58,098

58,098

228,182

(43,273)
8,674
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.95

0.57
0.00
-6.77
0.02
-6.89
78.84

0.83
0.99
-0.03
0.05
-0.78
79.05

1.14
1.03
0.04
0.07
-1.81
75.28

1.34

2.43

-3.80
0.00
-6.27
85.91

22

3.94
0.02
6.51
76.38

1.80
0.01
3.51
80.58

Financial Statement Analysis of Non Financial Sector 2013

Artistic Denim Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

3,260,768

3,431,575
84,401
4,608,390
3,341,198
199,900
0
0
5,976
1,220,207
7,481
654,557
416,740
12,200
129,229
1,479,389
1,198,564
280,825
491,136
471,430
0
0
0
19,706
2,681,257
840,000
840,000
0
1,841,257
0
1,841,257
0

3,425,534
26,960
4,852,945
3,393,330
240,434
0
0
5,244
1,705,817
34,965
901,334
579,728
14,623
175,167
1,910,518
1,639,303
271,215
373,040
348,293
0
0
0
24,747
2,847,793
840,000
840,000
0
2,007,793
0
2,007,793
0

3,271,881
16,008
4,954,886
3,250,504
245,806
0
0
5,369
2,769,251
10,628
1,169,686
1,322,268
14,407
252,262
2,743,575
2,349,615
393,960
266,320
235,319
0
0
31,001
0
3,031,237
840,000
840,000
0
2,191,237
0
2,191,237
0

3,435,226
316,900
4,993,089
3,112,798
234,422
0
0
5,528
2,477,008
13,729
703,403
1,437,610
13,654
308,612
2,144,539
1,490,368
654,171
380,366
344,206
0
0
36,160
0
3,387,329
840,000
840,000
0
2,547,329
0
2,547,329
0

3,521,263
209,681
5,399,819
3,305,415
245,367
0
0
6,167
2,455,205
18,653
640,068
1,385,388
14,849
396,247
1,701,194
1,141,373
559,821
214,559
168,489
0
0
46,070
0
4,060,715
840,000
840,000
0
3,220,715
0
3,220,715
0

3,125,384
123,760
3,001,624
2,427,400
1,535,337
892,063
697,984
176,606
94,933
81,673
104,120
186,278
169,568
410,338
32,512
168,000
0
704,036

3,671,610
138,276
3,533,334
2,904,895
2,009,358
895,537
766,715
265,451
129,198
136,253
116,159
159,563
144,288
370,925
36,361
168,000
0
120,197

4,869,120
281,021
4,588,099
4,126,025
3,076,912
1,049,113
743,095
195,695
103,643
92,052
137,223
188,641
173,694
395,273
43,829
84,000
0
(363,948)

5,451,844
163,584
5,288,260
4,600,585
2,587,010
2,013,575
851,259
231,949
121,031
110,918
123,447
165,143
143,385
496,438
55,904
84,000
0
1,229,730

6,136,793
99,858
6,036,935
4,991,834
3,161,425
1,830,409
1,144,959
313,186
187,068
126,118
201,570
149,713
128,634
787,032
29,971
84,000
0
939,381

3,315,223
0
349,043
1,046,483

3,172,393
471,430
209,826
1,669,994

3,220,833
348,293
166,564
1,987,596

3,297,557
235,319
267,444
2,584,934

3,767,695
344,206
356,534
1,834,574

4,275,274
168,489
673,061
1,309,862

0.34
6.71
14.98
0.54
1.04
74.08
0.85
8.50
16.26
11.83

0.30
5.96
13.33
0.67
0.82
77.67
0.73
8.89
15.92
12.65
2.25
4.77
3.42
13.13
0.36
4.50
31.92

0.33
4.35
15.79
0.72
0.89
79.12
0.80
7.58
13.42
11.60
1.99
4.07
3.57
10.10
0.05
3.98
33.90

0.49
3.87
27.16
0.81
1.01
84.74
0.99
7.08
13.45
12.13
4.18
4.16
3.28
8.12
-0.12
4.18
36.09

0.68
3.03
26.37
0.92
1.16
84.39
0.75
8.31
15.47
14.05
5.24
7.75
4.46
9.11
0.49
5.24
40.33

0.83
2.44
22.58
1.03
1.44
81.34
0.47
13.24
21.13
19.57
9.01
9.59
7.12
12.82
0.49
9.01
48.34

Items

4,328,434
3,260,768
171,955
0

1,322,021
67,280
796,552
368,877
0
89,312
1,267,566
1,046,483
221,083
842,387

842,387
2,472,836
840,000
840,000
0
1,632,836

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,461,865
102,021
2,359,844
1,823,851

638,014
145,620

145,620

165,183

373,722
24,679
0
140,000

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.09

15.18
0.00
4.16
29.44

23

Financial Statement Analysis of Non Financial Sector 2013

Ashfaq Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

342,052

332,143
0
366,600
331,210
14,708
0
0
933
214,169
3,462
141,035
42,006
0
27,666
237,559
207,296
30,263
143,439
0
137,000
0
6,439
0
165,314
69,970
69,970
0
38,207
0
38,207
57,137

421,333
19,853
338,850
396,495
35,859
0
0
4,985
198,572
2,730
85,946
63,547
0
46,349
232,554
175,423
57,131
115,710
0
107,000
0
8,710
0
271,641
69,970
69,970
0
62,222
0
62,222
139,449

431,289
48,003
455,570
378,786
33,745
0
0
4,500
243,302
18,485
133,779
42,227
0
48,812
256,579
199,273
57,306
116,641
0
107,000
0
9,641
0
301,371
69,970
69,970
0
102,769
0
102,769
128,632

439,500
55,332
489,050
379,663
32,890
0
0
4,505
308,410
48,515
107,621
104,936
0
47,338
227,948
158,448
69,500
150,013
0
139,740
0
10,273
0
369,949
69,970
69,970
0
180,473
0
180,473
119,506

680,361
33,384
646,977
585,049
441,367
143,682
95,311
50,001
34,046
15,955
46,447
27,570
20,284
17,740
7,074
0
0
62,534

883,856
61,363
822,493
777,919
550,026
227,893
105,937
59,385
41,030
18,356
59,472
25,265
18,674
21,286
8,534
0
0
120,271

1,036,471
66,765
969,705
912,843
783,314
129,529
123,627
65,564
42,448
23,117
64,456
17,374
13,842
40,689
10,959
0
0
39,197

931,187
73,038
858,149
771,901
513,228
258,673
159,286
65,647
32,512
33,135
75,633
16,339
9,382
77,300
8,729
0
0
79,224

795,249
133,343
661,906
669,775
416,500
253,275
125,474
60,265
28,340
31,925
84,565
12,344
9,276
75,906
7,403
0
153,051
59,799

160,636
0
4,767
210,180

308,754
0
10,666
207,296

387,351
0
12,752
175,423

418,012
0
29,730
199,273

519,962
0
68,571
158,448

590,692
0
68,503
72,964

0.17
5.72
14.95
0.81
0.58
84.61
2.85
1.57
7.36
6.64

0.19
4.05
6.17
1.25
0.90
85.99
2.30
3.10
11.08
7.56

0.28
2.86
7.19
1.43
0.85
88.01
1.28
3.65
9.74
6.12

0.24
1.68
4.07
1.54
0.95
88.07
1.24
6.29
14.20
10.10

0.67
1.75
11.27
1.25
1.35
82.89
1.02
10.87
23.03
16.48

0.80
1.55
13.90
1.07
1.80
84.22
0.29
10.16
16.01
13.67

Items

362,734
342,052
15,020
0

255,003
2,735
156,567
72,627
0
23,074
436,419
210,180
226,239
5,645

5,645
154,991
69,970
69,970
0
85,021

466,235
88,995
512,419
372,735
31,660
0
0
4,505
279,917
14,624
85,961
110,507
0
68,825
155,460
72,964
82,496
12,301

12,301

578,391
262,388
262,388

204,743

204,743
111,260

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

485,673
19,217
466,456
410,927

74,746
38,037

38,037

27,779

9,412
4,645
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.10

4.82
1.87
2.61
0.16
1.52
23.63

10.28
2.14
2.41
0.35
1.82
38.82

7.75
3.94
3.93
0.11
4.25
43.07

8.65
9.24
8.30
0.21
9.80
52.87

9.25
9.18
9.54
0.36
2.61
22.04

1.94
0.00
0.68
22.15

24

Financial Statement Analysis of Non Financial Sector 2013

Asim Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

297,483

397,599
7,299
594,997
382,839
20,247
0
0
7,461
82,109
46,711
19,567
0
0
15,831
229,507
0
229,507
495,720
415,047
0
0
3,491
77,182
(245,519)
151,770
151,770
0
(546,367)
0
(546,367)
149,078

386,331
0
610,699
378,870
19,671
0
0
7,461
122,441
54,557
37,412
2,636
0
27,836
236,019
0
236,019
491,443
415,047
0
0
3,073
73,323
(218,690)
151,770
151,770
0
(512,371)
0
(512,371)
141,911

386,584
0
630,916
379,114
19,973
0
0
7,470
165,402
56,112
52,096
7,865
30,009
19,320
244,174
0
244,174
487,473
415,047
0
0
2,769
69,657
(179,661)
151,770
151,770
0
(466,533)
0
(466,533)
135,102

395,505
1,362
657,547
385,790
19,655
0
0
8,353
201,543
120,111
39,933
0
17,987
23,512
242,552
0
242,552
482,849
415,040
0
0
1,627
66,182
(128,353)
151,770
151,770
0
(429,064)
0
(429,064)
148,941

382,466
0
661,393
371,419
18,516
0
0
11,047
303,484
165,529
95,091
3,874
9,338
29,652
232,427
0
232,427
479,725
415,047
0
0
1,570
63,108
(26,202)
151,770
151,770
0
(320,959)
0
(320,959)
142,987

650,364
650,364
0
677,728
512,269
165,459
(27,364)
7,945
0
7,945
45,886
23
0
(33,877)
0
0
0
39,536

832,727
828,076
4,651
793,288
617,064
176,224
39,439
13,218
297
12,921
51,456
311
0
27,161
4,171
0
0
16,249

1,094,821
1,081,539
13,282
1,035,392
856,502
178,890
59,429
16,429
481
15,948
59,601
361
0
44,579
9,746
0
0
49,463

1,054,932
1,054,932
0
1,010,182
801,007
209,175
44,750
16,188
0
16,188
76,102
462
0
36,776
10,716
0
0
51,921

1,130,026
1,130,026
0
1,004,831
810,505
194,326
125,195
27,763
0
27,763
90,901
159
0
104,065
5,684
0
0
35,005

199,380
0
(724)
2,544

250,201
415,047
(33,877)
415,047

272,753
415,047
22,990
415,047

307,812
415,047
34,833
415,047

354,496
415,040
26,060
415,040

453,523
415,047
98,381
415,047

0.42
0.00
0.00
1.18
0.71
98.42
-3.47
0.47
-1.11
1.00

0.20
0.00
0.00
1.36
0.36
104.21
-2.95
-6.69
14.69
-15.07

0.24
0.04
0.32
1.64
0.52
95.26
-3.33
5.50
-11.70
10.39

0.38
0.03
0.72
1.98
0.68
94.57
-4.07
8.41
-22.38
15.36

0.57
0.04
0.00
1.77
0.83
95.76
-5.65
6.40
-23.88
11.11

0.77
0.01
0.34
1.65
1.31
88.92
-27.18
16.22
-134.66
25.76

Items

594,728
297,483
21,300
0

235,566
141,776
90,790
20
0
2,980
333,669
2,544
331,125
415,047

415,047
(215,667)
151,770
151,770
0
(367,437)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

630,013
630,013
0
620,053

9,960
7,513

7,513

21

2,426
3,150
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

25

6.94

33.24

22.26

21.02

26.42

11.88

0.39
0.00
-0.05
-14.21

-5.21
0.05
-2.23
-16.18

3.26
0.02
1.51
-14.41

4.07
0.07
2.30
-11.84

3.49
0.07
1.72
-8.46

9.21
0.05
6.48
-1.73

Financial Statement Analysis of Non Financial Sector 2013

Ayesha Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,773,376

2,400,643
0
2,388,516
2,361,725
68,064
0
32,823
6,095
554,886
7,425
284,888
84,176
0
178,397
742,045
552,360
189,685
821,255
425,665
73,752
0
1,889
319,949
1,392,229
14,000
14,000
0
190,682
7,077
183,605
1,187,547

2,320,542
0
2,408,121
2,281,225
100,307
0
33,519
5,798
539,875
10,981
204,567
87,418
0
236,909
729,368
519,284
210,084
736,499
326,569
90,403
0
1,568
317,959
1,394,550
14,000
14,000
0
241,889
7,077
234,812
1,138,661

2,305,139
0
2,442,219
2,267,014
126,896
0
35,519
2,606
668,803
12,453
343,227
129,898
0
183,225
904,190
620,779
283,411
673,395
339,343
97,826
0
789
235,437
1,396,357
14,000
14,000
0
268,349
7,077
261,272
1,114,008

2,240,474
0
2,424,717
2,205,087
48,033
0
31,181
4,206
608,165
10,435
292,249
73,830
0
231,651
846,344
521,969
324,375
691,073
365,225
110,660
0
4,324
210,864
1,311,222
14,000
14,000
0
218,107
7,077
211,030
1,079,115

2,889,163
0
2,860,573
2,828,260
46,779
0
54,534
6,369
598,285
10,269
303,614
72,533
0
211,869
828,433
539,788
288,645
773,123
302,954
114,078
0
5,410
350,681
1,885,892
14,000
14,000
0
331,369
7,077
324,292
1,540,523

1,865,360
1,642,051
223,309
1,864,632
1,308,212
556,420
728
80,834
10,615
70,219
127,112
118,910
109,439
(211,891)
2,233
0
0
(108,630)

2,371,233
2,042,605
328,628
2,194,076
1,600,305
593,771
177,157
45,016
12,936
32,080
138,536
119,379
111,526
13,970
13,639
0
0
59,532

3,772,568
2,946,660
825,908
3,642,103
2,921,911
720,192
130,465
48,406
19,445
28,961
176,003
127,962
118,073
(41,058)
39,657
0
0
111,077

3,014,311
2,388,270
626,041
2,918,631
2,124,073
794,558
95,680
65,939
19,317
46,622
178,974
115,271
108,996
(84,212)
25,496
0
0
84,999

3,370,749
2,385,717
985,032
3,144,209
2,257,875
886,334
226,540
65,562
26,941
38,621
247,158
94,503
83,530
74,700
19,554
0
0
104,178

1,554,837
0
(76,226)
443,246

2,213,484
425,665
(214,124)
978,025

2,131,049
326,569
331
845,853

2,069,752
339,343
(80,715)
960,122

2,002,295
365,225
(109,708)
887,194

2,659,015
302,954
55,146
842,742

0.21
3.47
7.72
0.85
0.77
97.51
1.27
-2.71
-5.78
-4.08

0.12
6.37
4.51
0.63
0.75
99.96
1.12
-7.77
-16.99
-11.25

0.13
5.03
3.69
0.83
0.74
92.53
1.05
0.48
1.00
0.64

0.16
3.39
3.44
1.27
0.74
96.54
1.13
-1.41
-2.94
-1.95

0.10
3.82
2.45
1.06
0.72
96.83
1.17
-2.89
-6.22
-4.14

0.10
2.80
2.15
0.97
0.72
93.28
0.85
2.36
4.67
3.21

Items

1,967,848
1,773,376
69,595
0

727,565
21,479
355,568
163,667
16,250
170,601
946,104
443,246
502,858
452,188

452,188
1,102,649
14,000
14,000
0
1,088,649

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,119,100
1,870,027
249,073
2,066,292

52,808
40,271

40,271

73,553

(65,726)
10,500
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.96

6.55
-0.94
-11.36
-0.07
-152.95
994.45

11.59
1.13
0.59
0.04
0.24
996.11

10.99
0.65
-1.09
0.07
-57.65
997.40

10.31
0.23
-2.79
0.06
-78.36
936.59

11.10
1.89
2.22
0.07
39.39
1,347.07

-3.10
0.00
-54.45
787.61

26

Financial Statement Analysis of Non Financial Sector 2013

Azgard Nine Ltd.


2008

2009

2010

2011

8,687,158

42,857,047
7,380,422
39,901,859
29,696,709
18,408
5,645,096
37
134,783
15,638,041
437,814
5,985,036
4,586,931
0
4,628,260
24,459,435
16,402,024
8,057,411
18,224,297
15,684,724
392,185
0
0
2,147,388
15,811,356
4,879,344
4,548,719
330,625
6,962,860
3,152,134
3,810,726
3,969,152

42,857,047
7,380,422
39,901,859
29,696,709
1,010,624
5,645,096
37
134,783
15,638,042
437,814
5,985,036
4,586,931
0
4,628,261
24,443,021
16,402,024
8,040,997
18,240,712
15,684,725
392,185
0
16,413
2,147,389
15,811,356
4,879,344
4,879,344
0
6,962,860
3,152,134
3,810,726
3,969,152

16,557,182
0
19,015,014
13,835,133
1,017,772
8,289
2,692,147
21,613
19,589,674
166,258
3,763,161
3,185,586
10,969,811
1,504,858
14,771,889
9,567,132
5,204,757
7,381,033
3,390,029
0
3,953,869
0
37,135
13,993,934
4,548,719
4,548,719
0
5,720,345
7,566,084
(1,845,739)
3,724,870

26,276,262
14,524,421
11,751,841
17,982,858
6,401,919
11,580,939
8,293,405
2,141,365
782,580
1,358,784
2,693,503
4,791,419
4,917,049
1,363,061
157,119
29,591
0
1,292,451

26,340,569
14,588,728
11,751,841
17,982,858
6,401,919
11,580,939
8,357,711
2,205,671
846,887
1,358,784
2,693,503
4,791,419
4,448,379
1,363,061
157,119
0
0
1,292,451

17,017,953
3,962,461
(14,745,246)
11,264,720

34,035,653
15,684,724
1,176,351
32,086,748

1.12
39.04
0.00
0.43
1.80
69.66
1.65
-4.77
-14.64
-7.28

0.21
18.23
17.46
0.45
0.64
68.44
2.70
3.17
10.42
5.34
40.75
4.39
1.28
5.19
0.03
2.65
34.76

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

11,275,747
8,653,622
538,506
33,536

18,684,515
82,074
4,034,103
0
11,540,498
3,027,840
10,353,720
7,302,259
3,051,461
6,674,514

3,962,461

2,712,053
10,343,439
3,827,119
3,827,119
0
6,516,320

(Thousand Rupees)
2012
2013
14,152,064
7,536
19,110,469
13,408,780
1,352,040
696,249
15
39,484
52,052,860
310,989
3,131,907
2,826,170
45,783,794
53,035,753
15,965,025
37,070,728
2,753,456
24,021

13,961,930
207
19,187,593
12,972,804
516,908
693,644
266,106
29,169
6,991,084
143,041
2,339,039
2,757,284
700,000
1,051,720
10,329,761
5,709,155
4,620,606
6,210,052
1,646,720

2,729,435
10,415,715
4,548,719
4,548,719

4,563,332
4,413,201
4,548,719
4,548,719

(879,443)
7,024,787
(7,904,230)
6,746,439

(3,606,105)
3,120,841
(6,726,946)
3,470,587

17,602,765
2,773,101
14,829,664
17,490,491
11,764,435
5,726,056
112,274
1,359,579
728,453
631,126
2,523,726
3,998,410
3,622,851
(4,528,951)
173,290
0
0
(996,791)

11,907,437
1,622,866
10,284,571
12,949,888
8,950,266
3,999,622
(1,042,451)
1,763,105
1,116,951
646,154
1,964,093
3,387,282
2,115,874
(6,192,838)
115,954
0
0
10,947

14,439,186
1,960,496
12,478,690
13,694,668
9,105,345
4,589,323
744,518
1,598,388
986,164
612,224
1,859,960
2,095,622
930,360
(2,949,492)
137,540
0
0
(930,012)

34,052,068
15,684,725
1,205,942
32,086,749

21,374,967
7,343,898
(4,702,241)
16,911,030

13,169,171
24,021
(6,308,792)
15,989,046

10,623,253
1,646,720
(3,087,032)
7,355,875

0.21
18.19
17.41
0.45
0.64
68.27
2.70
2.33
8.62
4.00

0.97
22.71
18.10
0.49
1.33
99.36
1.58
-9.57
-30.39
-16.34

0.06
28.45
23.73
0.18
0.98
108.75
5.36
-12.10
-50.74
-35.85

0.35
14.51
19.10
0.69
0.68
94.84
3.75
-6.77
-39.78
-24.79

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

11,827,025
11,724,806
102,219
8,238,448

3,588,577
1,089,025

1,089,025

4,617,259

(1,457,675)
13,287,571
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.93

-12.32
0.00
-38.53
27.03

27

4.40
1.31
5.17
0.03
2.47
32.40

4.68
-0.25
-25.73
-0.04
-10.34
30.76

3.80
-1.93
-52.01
0.00
-13.87
22.90

6.17
-2.17
-20.43
-0.06
-6.79
9.70

Financial Statement Analysis of Non Financial Sector 2013

Babri Cotton Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

794,266

1,014,836
9,344
1,218,926
1,000,084
34,429
0
2,182
3,226
349,881
536
321,233
0
0
28,112
526,995
397,829
129,166
332,019
303,314
0
0
20,271
8,434
505,703
28,960
28,960
0
27,268
19,440
7,828
449,475

1,027,619
223
1,257,551
1,005,891
33,751
0
19,144
2,361
349,792
1,035
322,492
0
0
26,265
404,356
314,078
90,278
341,391
266,280
0
0
21,202
53,909
631,664
28,960
28,960
0
158,136
19,440
138,696
444,568

1,067,993
0
1,307,876
1,035,313
34,326
0
31,120
1,560
434,382
640
371,318
0
0
62,424
436,013
316,642
119,371
361,608
183,430
0
47,068
40,756
90,354
704,754
36,522
36,522
0
228,669
18,290
210,379
439,563

1,388,877
0
1,390,038
1,344,558
35,263
0
42,609
1,710
391,668
2,107
338,540
1,372
0
49,649
391,848
285,187
106,661
363,001
152,332
0

38,995
171,674
1,025,696
36,522
36,522
0
358,630
53,431
305,199
630,544

22,966
222,691
1,237,631
36,522
36,522
0
580,432
43,866
536,566
620,677

746,961
746,961
0
695,754
466,776
228,978
51,207
27,675
2,541
25,134
97,232
108,015
107,734
(104,001)
0
0
0
29,787

1,195,591
1,195,591
0
920,569
620,110
300,459
275,022
43,833
2,615
41,218
139,387
98,774
98,436
154,897
5,978
0
4,344
175,450

1,705,170
1,705,170
0
1,505,537
1,159,649
345,888
199,633
59,066
5,103
53,963
201,833
22,696
21,307
131,960
17,077
0
0
191,479

1,663,021
1,636,516
26,505
1,485,148
1,072,721
412,427
177,873
65,645
13,037
52,608
190,417
63,988
63,092
61,963
0
0
0
207,922

2,064,442
2,064,442
0
1,614,425
1,107,646
506,779
450,017
123,137
43,001
80,136
237,618
45,824
45,205
302,336
10,339
0
0
365,703

655,413
0
(47,856)
417,328

837,722
303,314
(104,001)
701,143

973,055
266,280
148,919
580,358

1,066,362
230,498
114,883
547,140

1,388,697
152,332
61,963
437,519

1,506,674
23,386
291,997
173,672

0.05
9.08
0.08
0.63
0.74
93.83
2.76
-3.82
-13.93
-8.32

0.00
14.46
0.00
0.55
0.66
93.14
1.70
-8.17
-25.38
-13.93

0.00
8.26
0.00
0.87
0.87
77.00
1.18
11.30
27.24
17.11

0.00
1.33
0.00
1.13
1.00
88.29
1.13
9.16
19.75
12.94

0.01
3.85
0.08
0.93
1.00
89.30
0.74
3.77
7.16
5.05

0.05
2.22
0.53
1.14
1.46
78.20
0.46
16.86
26.72
20.88

Items

999,491
794,266
35,899
0

385,770
5,473
332,374
557
22,292
25,074
524,623
417,328
107,295
341,434

341,434
313,979
28,960
28,960
0
285,019

1,368,487

1,400,210
1,305,295
50,643
0
61,363
1,829
437,584
4,786
348,027
11,028

73,743
299,397
150,286
149,111
269,043
23,386
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

739,868
739,868
0
694,241

45,627
25,687

25,687

67,162

(44,157)
3,699
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.23

2.33
0.03
-13.92
0.03
-35.91
174.62

3.71
2.57
12.96
0.24
51.42
218.12

4.59
7.19
7.74
0.24
31.46
192.97

4.91
1.98
3.73
0.28
16.97
280.84

5.93
7.69
14.64
0.64
79.95
338.87

-5.97
0.00
-16.52
108.42

28

Financial Statement Analysis of Non Financial Sector 2013

Bhanero Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,847,513

1,767,662
2,578
3,002,510
1,724,335
176,981
0
375
40,373
1,366,387
22,666
799,754
443,989
0
99,978
1,339,149
1,104,299
234,850
810,184
517,333
89,286
0
45,777
157,789
984,716
30,000
30,000
0
954,716
900,000
54,716
0

1,660,535
66,895
3,002,444
1,573,155
164,211
0
63
20,422
1,525,584
36,211
951,780
387,230
0
150,363
1,426,808
1,151,616
275,192
358,758
89,184
100,000
0
52,780
116,794
1,400,553
30,000
30,000
0
1,370,553
0
1,370,553
0

1,592,711
45,769
3,101,606
1,534,156
151,676
0
200
12,586
2,201,981
53,237
1,547,310
436,591
0
164,843
1,430,481
1,085,866
344,615
160,459
0
0
0
66,768
93,691
2,203,752
30,000
30,000
0
2,173,752
0
2,173,752
0

1,660,295
118,106
3,237,939
1,530,549
150,049
0
300
11,340
1,970,559
32,754
1,372,934
381,348
0
183,523
1,043,490
701,542
341,948
167,023
0
0
0
78,964
88,059
2,420,341
30,000
30,000
0
2,390,341
0
2,390,341
0

1,583,147
40,293
3,353,352
1,531,891
146,903
0
320
10,643
2,822,476
53,184
2,127,754
414,889
0
226,649
1,303,307
830,250
473,057
154,958
0
0
0
92,005
62,953
2,947,358
30,000
30,000
0
2,917,358
0
2,917,358
0

3,781,557
2,773,421
1,008,136
3,285,300
2,282,843
1,002,456
496,257
109,599
44,710
64,890
277,188
289,788
258,895
99,624
16,382
6,000
0
435,451

4,800,841
711,921
4,088,920
3,899,119
2,625,011
1,274,108
901,722
259,842
115,603
144,239
329,445
231,441
180,100
419,128
46,636
60,000
0
475,670

7,545,581
380,311
7,165,271
6,068,097
4,946,354
1,121,743
1,477,484
332,280
192,138
140,142
369,460
224,088
172,747
933,272
80,763
90,000
0
413,465

6,372,947
993,902
5,379,045
5,562,693
3,778,859
1,783,834
810,254
310,328
191,861
118,467
393,454
144,614
128,113
366,132
65,357
60,000
0
677,527

6,997,417
1,199,311
5,798,106
5,904,142
3,984,707
1,919,435
1,093,275
351,956
175,473
176,483
512,332
124,896
103,277
620,706
63,055
60,000
0
23,008

1,786,647
0
75,885
1,047,505

1,794,900
517,333
77,242
1,621,632

1,759,311
89,184
312,492
1,240,800

2,364,211
0
762,509
1,085,866

2,587,364
0
240,775
701,542

3,102,316
0
497,651
830,250

0.35
7.66
11.74
1.21
1.02
86.88
2.18
3.05
10.09
5.56
13.87
4.73
1.38
2.63
0.20
27.75
328.24

0.30
4.82
8.07
1.51
1.07
81.22
1.27
13.26
35.14
23.58
6.21
5.04
3.33
8.73
0.27
124.16
466.85

0.34
2.97
5.79
1.99
1.54
80.42
0.72
26.74
51.79
45.27
9.47
4.88
6.40
12.37
0.26
284.17
734.58

0.40
2.27
5.98
1.76
1.89
87.29
0.50
9.86
15.84
14.79
5.01
4.64
3.86
5.75
0.56
100.26
806.78

0.36
1.78
5.93
1.59
2.17
84.38
0.49
15.45
23.13
21.82
9.29
3.29
7.01
8.87
0.02
185.88
982.45

Items

2,946,161
1,847,513
187,325
0

1,555,617
18,529
961,826
417,069
375
157,818
1,616,483
1,047,505
568,978
797,086

797,086
989,561
30,000
30,000
0
959,561

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

3,510,404
1,633,599
1,876,805
3,100,964

409,440
98,467

98,467

220,877

99,967
18,082
6,000
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


0.27
6.29
11.88
1.03
0.96
88.34
2.44
2.93
10.85
5.82
13.65
3.65

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.85
0.00
27.30
329.85

29

Financial Statement Analysis of Non Financial Sector 2013

Bilal Fibres Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

727,389

725,200
0
785,441
721,687
33,721
0
0
3,513
234,693
1,923
140,027
35,566
0
57,177
360,427
250,653
109,774
524,334
450,782
38,500
0
7,652
27,400
75,132
141,000
141,000
0
(229,930)
0
(229,930)
164,062

744,018
0
827,011
740,645
33,341
0
0
3,373
263,264
17,179
140,135
38,556
0
67,394
317,392
241,717
75,675
590,155
525,717
38,500
0
10,140
15,799
99,735
141,000
141,000
0
(199,729)
0
(199,729)
158,464

882,797
0
908,684
879,202
37,360
0
0
3,595
287,997
32,080
146,656
33,376
0
75,885
377,473
271,225
106,248
628,621
490,866
52,500
0
8,996
76,259
164,700
141,000
141,000
0
(213,530)
0
(213,530)
237,230

880,278
0
946,279
876,684
40,230
0
0
3,594
297,678
9,171
195,196
28,895
0
64,416
438,703
288,132
150,571
614,360
493,629
52,500
0
6,020
62,211
124,893
141,000
141,000
0
(244,713)
0
(244,713)
228,606

1,058,531

945,592
887,181
58,411
934,752
712,320
222,432
10,840
37,179
13,299
23,880
8,552
66,582
64,394
(91,967)
584
0
0
(90,329)

1,309,870
1,232,212
77,658
1,196,175
925,844
270,331
113,695
71,996
14,558
57,438
97,764
62,358
61,264
(14,445)
6,549
0
0
59,464

1,930,499
1,805,783
124,716
1,789,575
1,508,179
281,396
140,924
51,554
25,068
26,486
108,169
73,295
72,094
23,625
20,084
0
0
78,820

1,634,807
1,535,834
98,973
1,555,311
1,235,428
319,883
79,496
49,529
20,100
29,429
117,938
64,848
63,582
(28,265)
16,348
0
0
19,641

1,823,174
1,660,479
162,695
1,688,217
1,264,269
423,948
134,957
58,921
23,249
35,672
129,458
55,182
37,767
99,486
9,924
0
0
58,261

549,820
0
(97,380)
191,906

599,466
450,782
(92,551)
701,435

689,890
525,717
(20,994)
767,433

793,321
490,866
3,541
762,091

739,253
493,629
(44,613)
781,761

1,036,017
549,656
89,562
760,414

0.08
6.34
3.82
0.89
0.62
95.66
4.22
-6.78
-40.77
-12.93

0.10
7.04
3.76
0.99
0.65
98.85
11.78
-9.30
-68.07
-16.00

0.18
4.76
2.94
1.30
0.83
91.32
9.10
-1.47
-16.52
-2.24

0.17
3.80
1.73
1.65
0.76
92.70
6.11
2.17
17.87
3.19

0.09
3.97
1.77
1.39
0.68
95.14
8.43
-2.41
-19.52
-3.69

0.14
3.03
1.97
1.35
0.93
92.60
3.59
7.87
47.51
11.21

Items

758,989
727,389
29,358
0

290,821
3,465
168,200
34,614
0
84,542
468,390
191,906
276,484
354,736

354,736
195,084
141,000
141,000
0
54,084

1,076,051
1,054,930
41,012
0
0
3,601
290,650
6,689
185,159
35,829
0
62,973
313,164
210,758
102,406
742,081
549,656
52,500
0
4,854
135,071
293,936
141,000
141,000
0
(179,689)
0
(179,689)
332,625

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

905,213
711,885
193,328
865,938

39,275
43,592

43,592

57,389

(60,869)
36,511
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.38

6.75
-0.43
-9.73
-0.10
-6.56
5.33

9.35
0.76
-1.10
0.07
-1.49
7.07

13.16
1.33
1.22
0.08
0.25
11.68

8.38
0.56
-1.73
0.02
-3.16
8.86

9.85
3.63
5.46
0.06
6.35
20.85

-6.72
0.00
-6.91
13.84

30

Financial Statement Analysis of Non Financial Sector 2013

Blessed Textiles Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,624,083

1,576,841
0
2,648,347
1,565,526
168,880
0
0
11,315
880,145
12,809
670,208
74,092
0
123,036
962,322
772,167
190,155
667,083
495,842
89,286
0
32,621
49,335
827,581
64,320
64,320
0
763,261
750,000
13,261
0

1,636,160
217,380
2,599,938
1,405,916
160,269
0
0
12,864
773,353
30,781
525,224
87,597
0
129,751
514,871
311,172
203,699
648,362
504,014
86,708
0
39,419
18,221
1,246,280
64,320
64,320
0
1,181,960
1,100,000
81,960
0

1,547,493
18,185
2,864,538
1,521,180
152,212
0
0
8,128
1,293,004
16,862
935,161
164,856
0
176,125
625,013
314,476
310,537
391,759
342,547
0
0
49,213
0
1,823,725
64,320
64,320
0
1,759,405
0
1,759,405
0

1,741,463
322,805
2,904,849
1,411,360
158,768
0
0
7,298
1,519,068
15,932
1,156,336
132,021
0
214,779
688,450
379,700
308,750
513,314
445,840
0
0
56,574
10,900
2,058,767
64,320
64,320
0
1,994,447
0
1,994,447
0

350,928
1,144,987
787,563
357,424
583,314
475,706
0
0
65,995
41,613
2,421,221
64,320
64,320
0
2,356,901
0
2,356,901
0

3,295,075
1,385,948
1,909,126
2,787,605
1,805,782
981,824
507,469
152,194
101,180
51,013
204,946
257,167
231,321
98,108
24,714
4,824
0
575,953

4,054,212
694,014
3,360,198
3,252,897
2,356,379
896,518
801,314
197,228
111,394
85,834
263,162
174,156
145,826
429,930
40,082
32,160
0
703,544

6,124,844
358,297
5,766,547
4,964,447
4,173,317
791,130
1,160,397
296,986
182,059
114,927
294,149
192,407
148,077
673,402
63,797
48,240
0
352,430

5,447,991
907,504
4,540,487
4,715,879
3,307,411
1,408,468
732,112
258,153
146,251
111,902
312,667
137,939
116,169
338,720
55,520
32,160
0
223,223

5,765,770
1,716,934
4,048,836
4,952,738
3,507,703
1,445,035
813,032
241,037
132,149
108,888
346,916
138,293
117,782
439,593
18,406
32,160
0
43,931

1,429,248
0
89,070
921,037

1,494,664
495,842
68,570
1,268,009

1,894,642
504,014
357,688
815,187

2,215,484
342,547
561,365
657,022

2,572,081
445,840
251,040
825,540

3,004,535
475,706
389,027
1,263,269

0.16
5.32
5.95
1.07
0.86
87.79
2.32
4.32
14.97
8.68
14.85
3.54

0.09
7.80
2.25
1.34
0.91
84.60
1.97
3.74
11.76
6.71
15.21
4.92
1.42
2.98
0.35
11.41
128.67

0.23
4.30
2.16
1.68
1.50
80.24
0.93
17.67
41.46
25.37
12.12
7.72
3.95
10.60
0.60
60.61
193.76

0.29
3.14
2.69
2.16
2.07
81.05
0.56
25.65
43.87
32.77
12.64
6.55
5.55
10.99
0.35
94.78
283.54

0.21
2.53
2.42
1.67
2.21
86.56
0.58
11.10
17.45
14.15
8.81
4.71
3.92
6.22
0.19
44.03
320.08

0.20
2.40
3.29
1.39
1.88
85.90
0.71
11.86
19.62
15.77
13.10
3.67
4.73
7.62
0.03
65.48
376.43

Items

2,535,503
1,624,083
173,375
0

1,171,036
33,895
846,297
178,208
0
112,636
1,365,871
921,037
444,834
587,718

587,718
841,530
64,320
64,320
0
777,210

2,001,703
433,922
3,208,971
1,560,483
169,632
0
0
7,298
2,147,819
36,979
1,570,262
189,650

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,994,329
1,724,239
1,270,090
2,628,606

365,723
100,937

100,937

159,348

115,680
20,178
6,432
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.86
0.00
14.85
130.83

31

Financial Statement Analysis of Non Financial Sector 2013

Brothers Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

141,753

394,869
0
435,564
132,789
8,394
0
0
262,081
15,377
82
0
44
0
15,251
64,453
41,658
22,795
381,259
3,232
359,929
0
0
18,098
(35,466)
98,010
98,010
0
(165,803)
0
(165,803)
32,327

389,125
0
435,564
124,999
7,789
0
0
264,126
13,091
27
0
44
0
13,020
20,355
0
20,355
432,042
0
411,942
0
3,798
16,302
(50,181)
98,010
98,010
0
(178,681)
0
(178,681)
30,490

375,326
0
430,523
111,200
11,984
0
0
264,126
13,269
1,751
0
44
0
11,474
27,100
0
27,100
417,059
0
412,964
0
4,095
0
(55,564)
98,010
98,010
0
(181,982)
0
(181,982)
28,408

364,646
0
430,146
100,519
10,666
0
0
264,127
12,460
1,038
0
0
0
11,422
29,059
0
29,059
400,001
0
394,951
0
5,050
0
(51,954)
98,010
98,010
0
(176,755)
0
(176,755)
26,791

355,062
0
430,110
90,935
9,584
0
0
264,127
10,794
1,343
0
0
0
9,451
34,934
0
34,934
377,420
0
370,677
0
6,743
0
(46,498)
98,010
98,010
0
(169,764)
0
(169,764)
25,256

0
0
0
0
0
0
0
20,920
0
20,920
7,444
10,114
9,521
(29,908)
0
0
0
(21,458)

0
0
0
0
0
0
0
16,215
0
16,215
5,025
4,057
3,411
(20,272)
0
0
0
(13,563)

0
0
0
0
0
0
0
21,964
0
21,964
5,505
1,463
758
(5,203)
180
0
0
8,464

0
0
0
0
0
0
0
20,201
0
20,201
6,067
1,031
0
3,861
251
0
0
16,265

0
0
0
0
0
0
0
22,839
0
22,839
7,757
1,062
0
5,383
146
0
0
18,980

31,479
0
(33,102)
48,834

345,794
3,232
(29,908)
44,890

381,861
0
(20,272)
0

361,495
0
(5,383)
0

348,047
0
3,610
0

330,922
0
5,237
0

0.00
6.84
0.03
0.40
0.72
105.76
-76.82
-6.94
-204.12
-57.97

0.00

0.00

0.07

0.04

0.04

0.00
0.24

0.00
0.64

0.00
0.49

0.00
0.43

0.00
0.31

Items

438,493
141,753
8,480
0

279,552
765
0
44
0
278,743
389,826
48,834
340,992
37,036

37,036
(5,557)
98,010
98,010
0
(103,567)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

166,647
166,647
0
176,242

(9,595)
11,734

11,734

11,396

(32,267)
835
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-19.36
0.00
-3.38
-0.57

32

-12.57
-7.19
145.81
-15.85

-9.02
-4.99
47.34
-5.57

-7.99
-1.32
9.84
-1.40

-8.26
1.01
-7.18
1.09

-8.87
1.45
-10.94
1.59

-2.14

-4.94

-5.86

-0.05
-3.05
-3.62

-0.03
-2.07
-5.12

0.02
-0.55
-5.67

0.04
0.37
-5.30

0.05
0.53
-4.74

Financial Statement Analysis of Non Financial Sector 2013

Chakwal Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

785,734

786,928
0
1,337,814
774,773
48,597
0
0
12,156
345,835
32,437
210,369
44,946
0
58,083
458,458
275,276
183,182
505,417
51,338
371,256
0
8,992
73,831
168,888
400,000
400,000
0
(305,413)
0
(305,413)
74,300

796,322
0
1,379,939
787,788
41,287
0
0
8,534
352,747
32,310
169,279
55,334
0
95,824
412,551
201,722
210,828
509,211
42,000
371,256
0
9,077
86,878
227,307
400,000
400,000
0
(240,483)
0
(240,483)
67,790

856,854
0
1,534,581
848,470
48,845
0
0
8,384
538,223
33,023
320,274
88,692
0
96,233
622,256
225,653
396,603
470,300
42,000
371,256
0
10,038
47,006
302,521
400,000
400,000
0
(160,614)
0
(160,614)
63,136

884,959
0
1,609,755
874,603
51,099
0
0
10,356
526,574
2,632
275,735
139,661
0
108,546
643,966
236,661
407,305
58,311
0
0
0
11,305
47,006
709,256
400,000
400,000
0
250,507
371,256
(120,749)
58,749

948,633
564
1,724,483
936,286
54,902
0
0
11,783
705,224
728
367,499
104,671
0
232,326
763,619
327,187
436,432
65,170
0
0
0
15,164
50,006
825,068
200,000
200,000
0
570,263
371,256
199,007
54,805

989,845
856,916
132,929
950,275
649,737
300,538
39,571
35,529
8,663
26,867
93,487
54,718
47,476
(47,413)
2,095
0
0
24,856

1,352,246
1,048,025
304,221
1,188,035
846,183
341,852
164,211
43,863
13,650
30,214
143,463
46,385
41,888
79,601
8,134
20,000
0
140,768

2,326,626
1,860,543
466,083
2,175,590
1,793,414
382,177
151,036
56,645
17,199
39,446
139,254
57,561
41,062
42,423
23,409
0
0
80,545

2,029,439
1,367,805
661,634
1,868,450
1,400,535
467,915
160,989
68,860
23,614
45,246
162,248
39,643
35,828
55,893
20,414
0
0
71,692

2,741,832
1,030,643
1,711,189
2,410,682
1,750,787
659,895
331,150
150,832
67,581
83,251
187,510
36,160
33,021
138,299
22,456
30,000
0
35,517

364,030
0
(27,283)
225,526

674,305
51,338
(49,508)
326,614

736,518
42,000
51,466
243,722

772,821
42,000
19,014
267,653

767,567
0
35,479
236,661

890,238
0
85,843
327,187

0.10
3.93
4.93
0.76
0.47
92.41
4.40
-2.04
-10.70
-7.27

0.17
5.53
4.54
0.87
0.75
96.00
5.71
-4.14
-24.73
-9.13

0.21
3.43
4.09
1.18
0.86
87.86
4.06
6.98
40.18
11.28
3.57
7.99
2.90
5.89
0.15
1.79
5.68

0.20
2.47
3.81
1.67
0.86
93.51
3.61
3.33
16.01
5.62

0.22
1.95
6.88
1.44
0.82
92.07
0.99
3.98
11.05
7.26

0.14
1.32
3.82
1.66
0.92
87.92
1.00
9.02
18.03
16.68
3.86
7.46
5.19
5.04
0.04
2.90
20.63

Items

1,337,814
785,734
47,483
0

372,529
34,387
206,266
43,205
0
88,671
794,233
225,526
568,707
149,431

149,431
214,599
400,000
400,000
0
(185,401)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

875,542
775,808
99,734
809,061

66,481
62,948

62,948

34,372

(22,905)
4,378
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.24

4.71
0.00
-4.79
0.03
-1.24
4.22

-2.62
0.00
-0.68
5.36

33

7.26
2.03
1.82
0.07
0.48
7.56

7.36
2.56
2.75
0.10
0.89
17.73

Financial Statement Analysis of Non Financial Sector 2013

Chenab Ltd.
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

7,613,039

7,414,967
4,965
7,566,844
7,389,014
283,376
0
0
20,988
9,526,290
63,352
4,475,235
3,125,515
0
1,862,188
10,373,126
7,812,981
2,560,145
2,914,573
2,420,480
296,653
0
197,440
0
3,653,558
1,950,000
1,150,000
800,000
543,877
526,410
17,467
1,159,681

11,875,197
0
12,336,481
11,855,461
282,209
0
0
19,736
7,511,121
17,420
2,491,389
3,302,962
0
1,699,350
11,135,300
8,394,643
2,740,657
2,484,936
2,025,846
296,653
0
162,437
0
5,766,082
1,950,000
1,150,000
800,000
(1,393,122)
526,410
(1,919,532)
5,209,204

11,668,088
0
12,226,432
11,659,237
231,209
0
0
8,851
5,536,005
19,754
1,246,630
2,802,036
0
1,467,585
12,276,132
8,655,125
3,621,008
2,067,279
1,570,081
296,653
0
149,350
51,195
2,860,682
1,950,000
1,150,000
800,000
(4,245,908)
526,410
(4,772,318)
5,156,590

11,471,014
18,999
12,217,259
11,443,210
214,738
0
0
8,805
4,024,000
29,707
649,535
2,332,101
0
1,012,657
10,595,908
7,286,880
3,309,028
3,711,243
2,869,486
296,653
0
114,368
430,736
1,187,863
1,950,000
1,150,000
800,000
(5,915,244)
526,410
(6,441,654)
5,153,107

11,266,437
0
12,239,996
11,253,800
218,832
0
0
12,637
3,779,232
16,723
626,206
2,386,525
0
749,778
10,956,741
7,809,095
3,147,646
3,394,864
2,489,372
296,653
0
111,138
497,701
694,064
1,950,000
1,150,000
800,000
(6,378,460)
526,410
(6,904,870)
5,122,524

9,091,379
997,656
8,093,723
7,107,004
4,118,310
2,988,694
1,984,375
511,786
307,434
204,352
800,405
1,487,708
1,358,881
(13,728)
82,933
0
0
(143,040)

8,857,796
866,606
7,991,190
9,055,287
4,701,214
4,354,073
(197,491)
569,022
363,688
205,334
783,588
1,308,784
1,222,883
(1,939,628)
88,388
0
0
379,131

4,374,335
1,868,154
2,506,181
5,541,365
2,319,043
3,222,321
(1,167,030)
354,594
164,017
190,576
133,511
1,342,163
1,278,685
(2,857,923)
29,516
0
0
202,488

2,606,632
1,756,152
850,480
3,943,890
1,956,972
1,986,918
(1,337,258)
178,879
29,858
149,021
402,776
177,280
153,434
(1,672,947)
15,454
191,160
0
114,133

2,171,725
1,621,094
550,631
2,546,224
1,254,417
1,291,807
(374,499)
156,281
29,320
126,961
352,401
105,702
96,155
(488,509)
3,233
238,950
0
(124,381)

6,046,792
0
(97,685)
8,004,161

6,568,131
2,420,480
(96,661)
10,233,461

8,251,017
2,025,846
(2,028,016)
10,420,488

4,927,962
1,570,081
(2,887,439)
10,225,206

4,899,106
2,869,486
(1,879,561)
10,156,366

4,088,928
2,489,372
(730,692)
10,298,467

0.24
12.96
28.00
0.53
0.85
80.64
3.34
-0.10
-0.40
-0.25

0.31
16.36
34.38
0.54
0.92
78.17
3.64
-0.08
-0.37
-0.22

0.30
14.78
37.29
0.46
0.67
102.23
2.36
-10.68
-41.18
-26.18

0.23
30.68
64.06
0.25
0.45
126.68
5.01
-15.62
-66.26
-43.37

0.22
6.80
89.47
0.17
0.38
151.30
12.04
-10.23
-82.64
-34.05
-8.83
4.01
-9.90
-64.18
0.01
-14.68
10.33

0.22
4.87
109.89
0.14
0.34
117.24
20.68
-3.20
-51.92
-10.87
-2.06
3.47
-4.08
-22.49
-0.01
-4.28
6.04

Items

8,144,807
7,613,039
272,521
0

8,674,064
59,858
4,442,600
2,429,041
0
1,742,565
10,240,311
8,004,161
2,236,150
2,296,571

2,296,571
3,750,221
1,950,000
1,150,000
800,000
1,800,221

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

8,675,256
1,100,855
7,574,401
6,995,951

1,679,305
578,327

578,327

1,124,591

(15,294)
82,391
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.95

2.03
0.99
-0.15
-0.01
-0.84
31.77

3.56
-0.59
-21.90
0.03
-17.63
50.14

3.51
-1.24
-65.33
0.01
-25.11
24.88

-0.18
0.00
-0.85
32.61

34

Financial Statement Analysis of Non Financial Sector 2013

Colony Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

7,526,926

9,427,936
589,111
9,312,371
7,847,784
309,788
0
972,465
18,576
4,679,809
26,566
3,295,925
543,330
528
813,460
6,198,167
3,904,339
2,293,828
5,395,099
5,228,992
100,000
0
39,580
26,527
2,514,479
2,441,763
2,441,763
0
72,716
0
72,716
0

9,146,199
692,834
9,814,082
8,001,429
348,066
0
432,310
19,626
3,578,601
3,914
2,683,293
363,407
452
527,535
4,937,483
3,822,456
1,115,027
5,009,645
4,743,063
100,000
0
32,219
134,363
2,777,672
2,441,763
2,441,763
0
334,666
0
334,666
1,243

9,104,721
319,957
10,448,993
8,266,387
370,842
0
498,751
19,626
4,613,248
37,300
3,309,326
720,019
488
546,115
5,667,436
3,872,867
1,794,569
5,205,043
4,389,145
100,000
0
16,954
698,944
2,845,490
2,441,763
2,441,763
0
402,865
0
402,865
862

8,664,838
432,939
10,508,746
7,960,079
368,189
0
252,194
19,626
4,742,942
58,719
3,372,864
807,409
594
503,356
5,051,836
3,468,453
1,583,383
5,839,693
4,832,556
100,000
0
1,305
905,832
2,516,251
2,441,763
2,441,763
0
73,848
0
73,848
640

9,255,726
1,218,090
10,609,647
7,709,220
355,785
0
308,111
20,305
4,740,256
49,032
3,119,107
987,793
26
584,298
5,714,449
4,191,517
1,522,932
5,472,327
4,103,968
120,000
0
1,027
1,247,332
2,809,206
2,441,763
2,441,763
0
366,806
0
366,806
637

10,015,687
6,262,714
3,752,973
8,156,347
6,648,142
1,508,205
1,859,340
552,120
256,633
295,487
579,352
1,135,379
920,810
332,847
68,913
0
0
560,565

13,956,779
9,558,487
4,398,292
11,979,747
10,740,164
1,239,583
1,977,032
361,837
219,034
142,803
661,752
1,454,259
1,197,597
298,731
139,738
0
0
547,657

12,173,659
7,980,915
4,192,744
10,832,501
8,334,410
2,498,091
1,341,158
526,132
241,687
284,445
700,031
1,178,269
1,031,898
(274,918)
121,383
0
0
99,102

15,768,215
10,530,176
5,238,039
14,169,719
10,099,320
4,070,399
1,598,496
513,998
238,132
275,866
986,932
910,427
816,658
297,009
96,421

7,526,905
4,571,078
2,955,827
6,636,018
5,526,274
1,109,744
890,887
532,159
210,558
321,601
435,823
1,099,274
1,040,784
(405,784)
29,429
0
0
536,414

7,544,919
0
(197,334)
2,264,789

7,909,578
5,228,992
(435,213)
9,133,331

7,787,317
4,743,063
263,934
8,565,519

8,050,533
4,389,145
158,993
8,262,012

8,355,944
4,832,556
(396,301)
8,301,009

8,281,533
4,103,968
200,588
8,295,485

0.23
7.00
4.73
0.55
1.00
85.84
3.35
3.34
12.00
5.42
0.62
3.58

0.09
14.60
7.22
0.53
0.76
88.16
4.61
-3.03
-14.97
-5.25

0.07
11.34
3.63
0.79
0.72
81.44
3.58
2.48
12.58
4.24

0.13
10.42
5.16
1.02
0.81
85.83
3.82
2.26
10.63
3.77

0.17
9.68
6.63
0.91
0.94
88.98
4.33
-2.03
-10.25
-3.35

0.18
5.77
6.26
1.13
0.83
89.86
3.98
2.17
11.15
3.57

Items

7,405,681
7,526,926
242,460
0

5,124,297
32,067
1,960,293
331,930
787,243
2,012,764
5,106,304
2,264,789
2,841,515
4,638,568

4,638,568
2,906,351
2,441,763
2,441,763
0
464,588

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

7,020,730
7,020,730
0
6,026,505

994,225
319,450

319,450

491,569

363,373
35,907
524,800
0

863,552

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.18
0.00
1.34
11.90

35

2.28
0.61
-5.39
0.05
-1.78
10.30

3.73
1.36
3.32
0.06
1.08
11.38

4.22
1.25
2.14
0.05
0.65
11.65

3.61
0.73
-2.26
0.01
-1.62
10.31

5.06
1.36
1.88
0.08
0.82
11.50

Financial Statement Analysis of Non Financial Sector 2013

Crescent Cotton Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

428,062

457,876
451
1,267,012
397,923
43,117
0
56,792
2,710
541,093
3,110
170,442
65,437
142,976
159,128
833,814
449,631
384,183
53,765
44,958
0
0
8,807
0
111,390
213,775
213,775
0
(102,385)
106,047
(208,432)
0

3,159,380
0
3,792,273
2,913,723
42,435
0
241,971
3,686
508,484
30,207
164,332
58,024
9,002
246,919
941,844
452,171
489,673
44,393
34,972
0
0
9,421
0
2,681,627
213,775
213,775
0
(79,479)
19,957
(99,436)
2,547,331

3,087,442
0
3,435,938
2,786,695
35,645
0
238,554
62,193
585,801
11,227
245,892
69,945
8,024
250,713
951,447
263,972
687,475
44,404
11,002
8,984
0
13,938
10,480
2,677,392
213,775
213,775
0
(79,661)
18,073
(97,734)
2,543,278

2,864,959
4,005
3,407,832
2,761,525
29,682
0
74,216
25,213
1,091,754
177,868
496,164
90,332
89,064
238,326
1,103,211
352,446
750,765
21,159
0
0
0
21,159
0
2,832,343
213,775
213,775
0
96,044
72,001
24,043
2,522,524

2,839,484
0
3,425,771
2,758,469
22,584
0
78,403
2,612
1,098,836
136,163
389,160
96,234
123,490
353,789
803,818
104,476
699,342
34,289
0
0
0
23,572
10,717
3,100,213
213,775
213,775
0
363,914
110,614
253,300
2,522,524

2,072,000
1,650,965
421,035
2,039,366
1,760,327
279,039
32,634
104,834
21,345
83,489
194,186
90,561
88,036
(130,692)
10,466
0
0
29,115

3,285,140
2,216,979
1,068,161
3,112,800
2,469,967
642,833
172,340
141,396
45,622
95,774
232,342
70,457
65,485
66,950
22,116
0
0
14,891

4,530,528
1,577,245
2,953,283
4,241,679
3,230,809
1,010,870
288,849
163,964
94,011
69,953
212,501
64,809
55,312
32,871
45,832
0
0
(40,146)

4,246,955
829,210
3,417,745
3,840,872
2,360,172
1,480,700
406,083
206,093
102,810
103,283
265,416
67,506
52,957
144,265
38,324
26,722
0
(6,012)

3,816,579
609,333
3,207,246
3,334,328
1,989,486
1,344,842
482,251
195,731
94,482
101,249
256,262
39,188
30,836
264,038
39,656
42,755
0
135,687

407,535
0
(60,604)
589,330

165,155
44,958
(141,158)
494,589

2,726,020
34,972
44,834
487,143

2,721,796
11,002
(12,961)
274,974

2,853,502
0
79,219
352,446

3,134,502
0
181,627
104,476

0.45
3.64
2.94
1.96
0.98
94.86
2.63
-4.09
-11.53
-10.16

0.25
4.37
3.16
2.07
0.65
98.43
7.97
-11.37
-55.63
-45.64

0.10
2.14
1.77
0.90
0.54
94.75
0.37
2.87
4.79
4.63

0.09
1.43
1.54
1.23
0.62
93.62
0.37
0.90
1.23
1.21

0.32
1.59
2.13
1.07
0.99
90.44
0.40
3.78
5.24
5.18
3.96
8.56
3.72
3.40
-0.01
4.96
132.49

0.44
1.03
2.52
0.97
1.37
87.36
0.27
6.69
8.90
8.82
5.25
9.81
9.56
6.92
0.16
10.50
145.02

Items

1,204,388
428,062
46,638
0

872,674
11,643
310,000
74,828
318,057
158,146
893,201
589,330
303,871
49,085

49,085
358,450
213,775
213,775
0
144,675

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,544,949
2,102,412
442,537
2,414,228

130,721
111,377

111,377

92,676

(56,256)
4,348
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

8.21

12.16
-0.48
-6.31
0.03
-6.60
5.21

19.99
2.02
2.04
0.02
2.10
125.44

18.42
1.59
0.73
-0.04
-0.61
125.24

-2.21
0.00
-2.83
16.77

36

Financial Statement Analysis of Non Financial Sector 2013

Crescent Fibers Ltd.


2009

2010

2011

14,410

292,459
884
856,482
282,340
29,456
1,545
2,298
5,392
342,589
29,898
101,269
118,979
41,351
51,092
386,291
207,096
179,195
68,532
30,247
8,675
0
0
29,610
180,225
124,179
124,179
0
56,047
0
56,047
0

294,724
9,875
873,580
274,158
28,151
1,159
2,483
7,050
446,103
48,929
158,475
150,484
35,385
52,829
372,167
170,807
201,360
81,982
16,527
13,675
0
0
51,780
286,678
124,179
124,179
0
162,499
0
162,499
0

695,417
821
1,246,993
651,593
35,601
772
2,550
39,681
653,778
39,408
220,755
290,635
34,916
68,064
542,500
281,578
260,922
404,281
333,092
13,675
0
0
57,515
402,414
124,179
124,179
0
278,235
(4,588)
282,824
0

677,629
0
1,309,397
649,683
67,125
386
2,471
25,089
666,069
68,997
216,963
246,765
41,797
91,547
490,315
230,675
259,640
364,790
257,884
13,675
0
0
93,231
488,593
124,179
124,179
0
364,414
7,930
356,484
0

784,069
13,796
1,463,846
737,620
66,512
0
2,427
30,226
833,093
70,999
231,316
291,907
63,800
175,071
517,175
195,110
322,065
358,207
228,142
0

1,427,453
1,426,250
1,203
1,318,433
976,520
341,913
109,020
50,676
5,888
44,788
121,042
54,524
42,378
13,233
879
0
0
57,035

1,769,385
1,763,107
6,278
1,512,825
1,182,801
330,024
256,560
71,673
7,160
64,513
147,467
42,049
35,371
154,042
41,980
12,418
0
92,623

2,718,476
2,658,932
59,544
2,437,710
2,069,270
368,440
280,766
79,436
10,461
68,975
162,249
62,998
49,467
158,727
28,690
0
0
3,816

2,790,422
2,761,228
29,194
2,515,100
1,877,416
637,684
275,322
85,650
11,156
74,494
216,465
97,053
96,361
108,667
1,373
12,418
0
203,951

3,143,650
3,138,787
4,863
2,699,446
1,995,967
703,479
444,204
106,419
9,441
96,978
251,531
70,835
70,422
285,022
4,588
18,627
0
307,477

297,181
0
(43,100)
195,067

248,757
30,247
12,354
237,342

368,660
16,527
99,644
187,334

806,695
333,092
130,036
614,670

853,383
257,884
94,876
488,559

1,099,987
228,142
261,807
423,252

0.23
2.57
7.31
1.75
1.68
93.05
2.10
3.39
10.05
7.44
0.31
8.13

0.49
3.82
8.34
2.25
0.89
92.36
2.52
1.96
6.46
4.85

0.63
2.38
8.50
2.39
1.20
85.50
1.58
22.39
65.98
49.90
9.02
11.17
5.36
8.71
0.20
9.02
23.09

0.67
2.32
10.69
2.01
1.21
89.67
2.35
15.19
46.07
27.01

0.73
3.48
8.84
2.08
1.36
90.13
1.75
8.07
24.39
13.09
8.64
12.86
2.13
3.89
0.24
8.64
39.35

0.83
2.25
9.29
1.94
1.61
85.87
1.18
19.25
46.33
29.18
15.06
13.59
5.05
9.07
0.35
22.58
59.73

A.Non-Current Assets (A1+A3+A5+A6+A7)


1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

Items

850,141
12,479
31,263
1,931

697,413
1,545
153,456
91,110
2,673
448,629
414,642
195,067
219,575
67,601

67,601
229,580
124,179
124,179
0
105,401

130,065
741,780
124,179
124,179
0
617,601
29,934
587,667

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,246,845
1,241,818
5,027
1,160,208

86,637
42,273

42,273

32,038

25,224
6,234
62,090
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.02
0.00
1.53
18.49

37

14.10
1.31
0.93
0.13
0.99
14.51

12.31
4.21
5.84
0.00
10.47
32.41

Financial Statement Analysis of Non Financial Sector 2013

D.M. Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

963,259

1,012,049
0
1,245,304
936,515
26,992
0
1,139
74,396
122,588
590
90,964
3,452
643
26,939
393,213
171,582
221,631
247,308
138,798
0
0
13,636
94,875
494,116
30,524
30,524
0
(116,358)
0
(116,358)
579,950

1,006,042
0
1,235,665
910,723
25,356
0
1,955
93,364
79,355
6,287
34,937
7,237
0
30,894
374,293
195,287
179,006
199,224
89,624
0
0
12,354
97,246
511,880
30,524
30,524
0
(92,306)
0
(92,306)
573,662

949,084
0
1,181,376
863,162
23,209
0
1,340
84,582
73,108
385
29,039
4,230
743
38,710
443,996
204,048
239,948
129,866
43,898
0
0
10,501
75,467
448,330
30,524
30,524
0
(143,982)
0
(143,982)
561,788

897,955
0
1,158,175
821,976
20,956
0
1,340
74,639
35,540
384
2,440
43
743
31,930
462,312
193,838
268,474
74,933
0
0
0
8,115
66,818
396,250
30,524
30,524
0
(210,541)
0
(210,541)
576,267

863,407
0
1,130,312
787,975
17,734
0
0
75,432
38,890
455
16,179
0
2,083
20,173
460,239
151,345
308,894
78,971
0
0
0
8,158
70,813
363,087
30,524
30,524

549,766
549,766
0
558,424
402,101
156,323
(8,658)
23,008
1,410
21,598
49,178
49,957
47,824
(72,446)
8
0
0
6,127

982,345
982,345
0
903,849
636,741
267,108
78,496
27,837
2,161
25,676
79,063
43,870
43,259
15,784
4,912
0
0
57,292

831,952
831,952
0
846,145
622,954
223,191
(14,193)
29,967
4,094
25,873
68,989
36,217
33,659
(80,095)
0
0
0
3,841

27,242
27,242
0
53,339
0
53,339
(26,097)
33,020
879
32,141
9,360
30,207
28,622
(58,210)
0
0
0
14,081

44,346
44,346
0
66,526
34,786
31,740
(22,180)
13,626
868
12,758
9,866
24,851
24,282
(27,492)
(249)
0
0
(23,965)

782,586
0
(21,508)
146,741

741,424
138,798
(72,454)
310,380

711,104
89,624
10,872
284,911

578,196
43,898
(80,095)
247,946

471,183
0
(58,210)
193,838

442,058
0
(27,243)
151,345

0.02
6.27
0.53
0.74
0.54
92.37
1.10
-1.41
-3.01
-2.27

0.01
9.09
0.63
0.48
0.31
101.57
1.30
-6.28
-13.77
-9.51

0.04
4.47
0.74
0.91
0.21
92.01
1.12
1.42
3.14
2.17

0.01
4.35
0.51
0.81
0.16
101.71
1.28
-7.60
-16.68
-12.42

0.00
110.88
0.16
0.03
0.08
195.80
1.36
-5.95
-13.78
-11.09

0.01
56.04
0.00
0.05
0.08
150.02
1.49
-3.00
-7.24
-6.02

Items

1,245,930
963,259
28,644
0

208,753
2,416
96,291
4,585
1,650
103,811
389,426
146,741
242,685
224,268

224,268
558,318
30,524
30,524
0
527,794

(241,357)

(241,357)
573,920

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

867,583
842,329
25,254
801,391

66,192
30,814

30,814

54,365

(17,170)
4,338
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

9.01

6.04
-0.51
-13.18
0.01
-23.74
161.88

28.12
1.36
1.61
0.10
3.56
167.70

28.65
-1.38
-9.63
0.01
-26.24
146.88

11.16
-1.03
-213.68
0.03
-19.07
129.82

2.74
-0.13
-61.99
-0.04
-8.93
118.95

-1.98
0.00
-7.05
182.91

38

Financial Statement Analysis of Non Financial Sector 2013

D.S. Industries Ltd.


Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

783,304
40,994
652,875
610,505
56,171
0
126,692
5,113
54,877
2,547
23,209
23,351
594
5,176
641,746
381,186
260,560
352,646
261,312
0
0
4,371
86,963
(156,211)
600,000
600,000
0
(898,622)
0
(898,622)
142,411

717,586
0
698,657
596,566
59,721
0
101,947
19,072
122,466
11,249
27,414
46,101
229
37,473
746,862
411,241
335,621
272,782
192,500
0
0
3,825
76,457
(179,592)
600,000
600,000
0
(909,633)
0
(909,633)
130,041

650,820
0
698,130
538,857
57,568
0
92,890
19,073
131,778
12,767
58,818
39,141
198
20,854
873,106
453,262
419,844
281,117
204,312
0
0
7,216
69,589
(371,625)
600,000
600,000
0
(1,090,532)
0
(1,090,532)
118,907

590,069
0
684,125
480,093
50,886
0
90,904
19,072
85,161
15,723
26,823
23,809
219
18,587
663,544
294,567
368,977
405,172
325,951
15,000
0
8,968
55,253
(393,486)
600,000
600,000
0
(1,100,958)
0
(1,100,958)
107,472

13,003
34,155
(250,095)
600,000
600,000
0
(949,917)
0
(949,917)
99,822

653,736
653,736
0
652,940
404,793
248,147
796
513,541
1,245
512,296
61,173
130,200
129,067
(988,074)
0
0
0
150,806

913,016
909,352
3,665
803,135
513,332
289,803
109,881
26,034
6,014
20,020
75,627
88,072
87,538
(28,637)
5,251
0
0
66,206

1,225,420
1,159,753
65,667
1,286,566
920,224
366,342
(61,146)
34,594
5,663
28,931
105,576
102,170
101,221
(198,899)
0
0
0
(5,427)

943,573
943,412
161
904,367
608,603
295,764
39,206
36,524
7,261
29,263
89,036
42,923
42,434
(28,057)
9,434
0
0
105,868

1,085,828
1,085,828
0
922,983
574,313
348,670
162,845
52,343
5,961
46,382
136,232
33,568
33,428
127,750
5,429
0
0
167,360

196,435
261,312
(988,074)
642,498

93,190
192,500
(33,888)
603,741

(90,508)
204,312
(198,899)
657,574

11,686
325,951
(37,491)
620,518

389,502
592,439
122,321
678,940

0.04
19.92
3.57
0.78
0.09
99.88
-6.37
-117.88
632.53
-503.00

0.08
9.65
5.05
1.09
0.16
87.97
-5.68
-3.41
17.06
-19.77

0.06
8.34
3.19
1.57
0.15
104.99
-3.11
-24.52
72.17
-14,830.04

0.06
4.55
2.52
1.40
0.13
95.84
-2.72
-3.85
7.33
71.19

0.28
3.09
4.55
1.40
0.42
85.00
-4.11
17.59
-39.70
63.69

616,026
0
687,486
456,599
46,024
0
140,354
19,073
160,902
59,773
37,454
49,446
456
13,773
387,426
86,501
300,925
639,597
592,439

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

39

28.17
-6.66
-151.14
0.15
-16.47
-2.60

33.30
0.67
-3.14
0.06
-0.56
-2.99

20.83
-0.96
-16.23
0.00
-3.31
-6.19

35.18
0.34
-2.97
0.10
-0.62
-6.56

28.99
4.82
11.77
0.16
2.04
-4.17

Financial Statement Analysis of Non Financial Sector 2013

Dar Es Salaam Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

613,434

568,100
1,285
967,140
560,702
53,917
352
0
5,761
184,652
1,478
53,389
18,389
0
111,396
432,672
331,368
101,305
215,378
120,557
80,240
0
3,340
11,242
104,702
80,000
80,000
0
(213,005)
0
(213,005)
237,708

884,288
0
1,030,712
882,081
53,937
281
0
1,926
196,790
5,593
67,381
16,801
0
107,016
432,492
259,821
172,670
243,600
134,497
80,240
0
4,910
23,954
404,986
80,000
80,000
0
(181,850)
0
(181,850)
506,836

1,002,002
1,165
1,381,374
998,839
80,379
225
0
1,773
326,427
5,883
199,727
12,939
0
107,878
615,802
410,794
205,008
302,177
142,250
80,240
0
4,765
74,922
410,450
80,000
80,000
0
(235,793)
0
(235,793)
566,243

862,688
1,910
1,438,811
858,196
88,290
1,240
0
1,342
326,827
4,692
148,428
55,683
0
118,024
629,065
375,859
253,206
264,709
100,859
80,240
0
5,042
78,568
295,741
80,000
80,000
0
(283,400)
0
(283,400)
499,141

795,464
2,004
1,444,368
791,179
75,563
939

850,027
707,168
142,859
848,279
614,433
233,846
1,748
50,506
6,757
43,749
72,926
79,489
72,455
(128,220)
1,454
0
0
79,592

1,083,860
899,512
184,348
972,518
751,074
221,444
111,342
47,705
7,550
40,155
76,871
55,637
51,012
9,157
6,390
0
0
120,555

1,436,871
1,436,871
0
1,412,270
1,149,441
262,828
24,601
39,741
307
39,434
85,458
70,213
66,287
(84,912)
14,413
0
0
(116,473)

1,339,936
1,321,262
18,674
1,325,619
1,035,334
290,285
14,317
54,107
1,203
52,904
90,956
64,003
62,020
(97,807)
13,267
0
0
18,360

1,707,873
1,298,029
409,844
1,589,607
1,251,848
337,759
118,266
101,624
12,601
89,023
118,420
53,783
50,242
(36,681)
6,538
0
0
94,798

399,540
0
(108,440)
399,576

320,081
120,557
(129,674)
451,925

648,586
134,497
2,767
394,318

712,627
142,250
(99,325)
553,045

560,450
100,859
(111,074)
476,718

494,392
77,624
(43,219)
393,058

0.15
9.15
10.25
0.78
0.60
99.93
3.50
-11.09
-40.83
-23.85

0.05
9.35
2.16
1.13
0.43
99.79
6.19
-15.17
-81.92
-35.64

0.05
5.13
1.55
1.00
0.46
89.73
1.67
1.00
3.59
1.89

0.03
4.89
0.90
1.08
0.53
98.29
2.24
-7.05
-20.83
-12.48

0.10
4.78
4.16
1.13
0.52
98.93
3.02
-7.77
-27.70
-15.37

0.09
3.15
2.73
1.53
0.51
93.08
3.31
-3.19
-13.24
-6.95

Items

967,963
612,994
58,894
440

324,000
4,784
188,012
74,931
0
56,273
537,894
399,576
138,318
191,191

191,191
208,349
80,000
80,000
0
128,349

1,342
318,081
6,001
153,823
46,662
0
111,595
619,153
315,434
303,719
236,160
77,624
80,240
0
6,949
71,347
258,232
80,000
80,000

(280,219)

(280,219)
458,451

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

730,695
454,269
276,426
730,207

488
40,410

40,410

66,871

(104,766)
3,674
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.89

15.92
-0.77
-15.08
0.12
-16.21
13.09

16.09
1.18
0.84
0.18
0.35
50.62

7.19
-0.28
-5.91
-0.13
-12.42
51.31

9.03
-0.58
-7.30
0.02
-13.88
36.97

11.10
0.27
-2.15
0.11
-5.40
32.28

-14.34
0.00
-13.56
26.04

40

Financial Statement Analysis of Non Financial Sector 2013

Data Textiles Ltd.


Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

2009

2010

2011

75,179

161,399
0
129,583
70,092
5,088
0
0
91,307
12,283
947
0
8,175
0
3,161
113,998
0
113,998
39,222
0
39,222
0
0
0
20,462
99,096
99,096
0
(108,950)
0
(108,950)
30,316

156,838
0
129,583
65,531
4,561
0
0
91,308
11,234
1,073
0
7,000
0
3,161
114,225
0
114,225
39,222
0
39,222
0
0
0
14,625
99,096
99,096
0
(111,880)
0
(111,880)
27,409

152,747
0
129,583
61,439
4,091
0
0
91,308
10,050
764
0
6,125
0
3,161
114,394
0
114,394
39,222
0
39,222
0
0
0
9,181
99,096
99,096
0
(114,707)
0
(114,707)
24,792

139,313
0
104,403
660
123
0
0
138,653
3,961
850
0
0
0
3,111
15,743
0
15,743
39,222
0
39,222
0
0
0
88,309
99,096
99,096
0
(10,787)
0
(10,787)
0

558
0
4,179
558
102
0
0
0
3,472
361
0
0
0
3,111
7,708
0
7,708
39,222
0
39,222
0
0
0
(42,900)
99,096
99,096
0
(141,996)
0
(141,996)
0

0
0
0
0
0
0
0
1,528
0
1,528
785
57
0
(6,431)
0
0
0
232

0
0
0
0
0
0
0
1,416
0
1,416
665
55
0
(5,837)
0
0
0
126

0
0
0
0
0
0
0
1,418
0
1,418
605
96
0
(5,444)
0
0
0
(309)

0
0
0
0
0
0
0
859
0
859
302
105
0
(964)
0
0
0
(64,760)

0
0
0
0
0
0
0
373
0
373
0
105
0
(478)
0
0
0
(488)

26,891
0
(51,562)
0

59,684
0
(6,431)
0

53,847
0
(5,837)
0

48,403
0
(5,444)
0

127,531
0
(964)
0

(3,678)
0
(478)
0

0.07

0.08

0.07

0.06

0.05

0.05

0.00
0.68

0.00
0.11

0.00
0.10

0.00
0.09

0.00
0.25

0.00
0.45

129,583
75,179
178,119
0

104,865
715
0
9,685
0
94,465
153,153
0
153,153
0

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

0
26,891
99,096
99,096
0
(72,205)

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

F.Operation:
0
0
0
0

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

0
1,959

1,959

3,910

(12,168)
39,394
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

41

5.70
-4.15
-24.87
-14.89

7.49
-3.64
-27.16
-14.86

10.49
-3.42
-33.27
-10.28

16.73
-3.29
-45.74
-10.65

0.62
-0.63
-1.98
-1.10

-1.09
-0.65
-2.11
-0.77

0.00
-5.20
2.71

0.00
-0.65
2.06

0.00
-0.59
1.48

0.00
-0.55
0.93

-1.18
-0.10
8.91

-0.01
-0.05
-4.33

Financial Statement Analysis of Non Financial Sector 2013

Dawood Lawrencepur Ltd.


2009

2010

2011

76,286

3,472,351
40,120
468,430
65,805
4,560
23,945
3,333,078
9,403
1,259,576
24,052
216,313
43,750
121,794
853,667
149,786
0
149,786
44,695
0
0
0
44,695
0
4,537,446
513,547
513,547
0
4,023,899
0
4,023,899
0

3,751,445
52,269
477,302
67,690
9,837
23,575
3,597,367
10,544
1,467,401
26,633
201,103
69,763
761,362
408,540
139,141
0
139,141
48,557
0
0
0
48,557
0
5,031,148
513,547
513,547
0
4,517,601
0
4,517,601
0

4,305,460
128,228
477,007
60,129
9,552
23,385
4,083,174
10,544
1,426,344
52,314
319,688
82,643
654,837
316,862
143,960
0
143,960
59,674
0
0
0
59,674
0
5,528,170
590,578
590,578
0
4,937,592
0
4,937,592
0

4,478,918
170,168
381,613
45,398
9,016
24,378
4,228,431
10,543
1,397,951
48,916
295,152
159,017
575,658
319,208
118,355
0
118,355
62,183
0
0
0
62,183
0
5,696,331
590,578
590,578
0
5,105,753
0
5,105,753
0

4,478,918
170,168
381,613
45,398
9,016
24,378
4,228,431
10,543
1,397,951
48,916
295,152
159,017
575,658
319,208
118,355
0
118,355
62,183
0
0
0
62,183
0
5,696,331
590,578
590,578
0
5,105,753
0
5,105,753
0

193,365
193,365
0
140,441
56,983
83,458
52,924
563,738
5,555
558,183
74,346
155
0
(215,818)
1,089
0
0
20,425

380,862
380,862
0
330,206
122,362
207,844
50,656
96,596
11,349
85,247
164,241
0
0
681,604
13,591
25,677
77,032
(149,372)

374,667
374,667
0
339,561
168,388
171,173
35,106
155,929
16,232
139,697
197,334
0
0
789,873
8,541
59,058
0
(114,245)

378,965
378,965
0
334,049
184,386
149,663
44,916
129,055
7,941
121,114
185,373
0
0
265,470
11,463
295,289
0
(136,350)

378,965
378,965
0
334,049
184,386
149,663
44,916
129,055
7,941
121,114
185,373
0
0
265,470
11,463
295,289
0
(136,350)

1,582,791
0
124,624
0

4,582,141
0
(216,907)
0

5,079,705
0
642,336
0

5,587,844
0
722,274
0

5,758,514
0
(41,282)
0

5,758,514
0
(41,282)
0

0.54
0.09
12.74
0.21
8.23
79.93
0.13
3.09
3.47
3.45

1.27
0.08
22.63
0.04
8.41
72.63
0.04
-6.62
-7.05
-7.00

6.16
0.00
18.32
0.07
10.55
86.70
0.04
13.70
14.25
14.11
26.02
1.89

5.49
0.00
22.06
0.07
9.91
90.63
0.04
14.43
14.96
14.81
13.23
1.17

6.62
0.00
41.96
0.06
11.81
88.15
0.03
4.57
4.73
4.68
0.86
1.28

6.62
0.00
41.96
0.06
11.81
88.15
0.03
4.52
4.66
4.61
0.86
1.28

A.Non-Current Assets (A1+A3+A5+A6+A7)


1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

Items

464,602
76,286
24,234
0

1,714,810
62,036
196,084
46,917
4,330
1,405,443
208,305
0
208,305
0

0
1,582,791
466,861
466,861
0
1,115,930

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

368,294
368,294
0
294,373

73,921
23,807

23,807

333

134,707
10,083
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

42

1.88

0.89

36.58
0.00
2.67
33.90

-111.61
0.11
-4.22
88.36

178.96
-0.80
13.01
97.97

210.82
-0.56
13.23
93.61

70.05
-0.76
4.30
96.45

70.05
-0.76
4.30
96.45

Financial Statement Analysis of Non Financial Sector 2013

Dewan Farooque Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,273,830

1,207,370
25,089
1,613,806
1,177,281
120,635
0
0
5,000
586,138
6,525
359,016
75,547
0
145,050
838,390
473,911
364,480
579,434
224,219
377,507
0
6,648
(28,940)
375,684
600,000
600,000
0
(224,316)
0
(224,316)
0

1,146,037
27,691
1,639,662
1,093,166
110,355
0
0
25,181
586,936
1,978
335,195
52,051
0
197,713
793,710
471,930
321,780
487,915
126,162
377,507
0
8,599
(24,352)
451,348
600,000
600,000
0
(148,652)
0
(148,652)
0

1,099,851
0
1,723,939
1,074,670
102,772
0
0
25,181
846,151
5,130
401,600
218,389
0
221,032
1,151,888
793,947
357,941
43,910
20,833
0
0
8,526
14,551
750,204
977,507
977,507
0
(227,303)
0
(227,303)
0

1,883,407
0
2,625,181
1,856,660
119,718
0
0
26,747
907,081
16,768
406,803
243,255
0
240,255
446,601
263,673
182,928
1,024,207
791,093
0
0
8,191
224,923
1,319,680
977,507
977,507
0
(321,488)
0
(321,488)
663,661

1,751,083
0
2,641,697
1,724,336
148,839
0
0
26,747
918,886
25,197
272,074
335,242
0
286,373
485,854
271,057
214,797
829,199
628,685
0
0
8,107
192,407
1,354,916
977,507
977,507

920,419
522,184
398,235
974,841
639,609
335,232
(54,422)
41,517
30,759
10,759
71,467
127,582
113,986
(217,008)
4,001
0
0
(27,805)

1,247,720
1,062,439
185,281
1,108,768
711,671
397,097
138,952
43,388
27,183
16,205
91,284
13,497
5,213
85,640
5,388
0
0
(40,890)

1,736,128
1,680,004
56,124
1,701,575
1,267,883
433,693
34,553
49,008
25,318
23,690
102,395
3,288
2,004
(16,942)
17,911
0
0
(6,222)

1,363,080
1,354,531
8,549
1,380,590
859,033
521,557
(17,510)
58,395
21,881
36,514
110,570
31,347
30,609
(105,825)
13,741
0
0
274,884

1,301,852
1,298,611
3,241
1,194,006
733,252
460,754
107,846
45,719
18,365
27,354
114,153
53,240
50,819
9,278
6,557
0
0
179,970

1,338,312
243,750
(134,970)
533,300

955,118
224,219
(221,009)
698,130

939,263
126,162
80,252
598,091

794,114
20,833
(34,853)
814,780

2,343,887
791,093
(119,566)
1,054,766

2,184,115
628,685
2,721
899,742

0.22
10.63
9.38
0.56
1.13
88.09
1.80
-2.08
-6.02
-3.32

0.10
13.86
8.21
0.51
0.70
105.91
3.77
-11.99
-42.22
-18.92

0.07
1.08
4.17
0.72
0.74
88.86
2.84
4.86
20.71
9.04

0.19
0.19
12.58
0.89
0.73
98.01
1.59
-0.92
-2.82
-1.95

0.58
2.30
17.85
0.49
2.03
101.28
1.11
-4.47
-10.23
-6.74

0.74
4.09
25.75
0.49
1.89
91.72
0.97
0.34
0.69
0.41

Items

1,589,719
1,273,830
126,440
0

552,785
2,013
325,251
95,251
7,977
122,293
488,303
289,550
198,753
685,908

243,750

442,158
652,404
600,000
600,000
0
52,404

(247,258)

(247,258)
624,667

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,015,813
383,770
632,043
894,845

120,968
51,407

51,407

107,953

(38,366)
96,604
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.12

2.56
-0.90
-23.58
-0.02
-3.68
6.26

3.72
17.43
6.86
-0.03
1.34
7.52

4.32
-7.45
-0.98
-0.01
-0.36
7.67

3.35
-2.46
-7.76
0.19
-1.22
13.50

4.78
1.18
0.71
0.14
0.03
13.86

-3.78
0.00
-2.25
10.87

43

Financial Statement Analysis of Non Financial Sector 2013

Dewan Khalid Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

290,074

331,456
49,331
593,205
234,278
26,779
0
47,774
73
585,827
2,297
316,758
197,640
0
69,132
780,215
385,467
394,749
44,851
0
0
0
9,488
35,363
92,217
56,825
56,825
0
35,392
0
35,392
0

309,006
49,331
593,482
210,536
24,019
0
49,066
73
575,336
2,032
248,540
257,374
0
67,390
766,370
355,368
411,001
40,185
0
0
0
5,433
34,752
77,787
56,825
56,825
0
20,962
0
20,962
0

357,645
0
680,298
273,322
24,030
0
84,250
73
577,438
2,154
200,220
303,987
0
71,078
802,153
351,590
450,563
4,652
0
0
0
4,652
0
128,278
56,825
56,825
0
71,453
(63,547)
135,000
0

782,752
0
1,205,246
729,772
68,497
0
52,939
41
631,155
8,584
253,796
280,405
0
88,370
630,857
330,593
300,264
321,594
227,800
0
0
5,057
88,737
461,456
56,825
56,825
0
65,208
(69,792)
135,000
339,423

741,533
0
1,209,531
660,147
73,910
0
81,345
41
605,767
11,971
203,771
289,744
0
100,281
592,592
309,183
283,409
263,578
182,240
0
0
7,154
74,184
491,130
56,825
56,825
0
126,513
(8,487)
135,000
307,792

652,201
652,201
0
660,706
474,871
185,835
(8,505)
53,882
17,473
36,409
85,554
45,672
43,597
(108,059)
0
0
0
53,240

498,155
498,155
0
485,275
289,517
195,758
12,880
26,905
2,100
24,805
52,870
7,120
291
(21,145)
2,508
0
0
41,976

1,368,138
1,368,138
0
1,342,223
1,041,856
300,367
25,915
29,926
4,074
25,852
104,782
1,193
0
(5,203)
14,243
0
0
42,578

1,155,718
1,155,718
0
1,170,185
894,251
275,934
(14,467)
39,118
11,763
27,355
107,979
6,246
5,986
(59,831)
11,558
0
0
77,548

1,426,136
1,426,136
0
1,381,653
974,619
407,034
44,483
35,781
11,220
24,561
128,677
14,740
13,884
(6,038)
7,247
0
0
89,340

341,707
0
(79,599)
374,691

137,067
0
(108,059)
385,467

117,971
0
(23,652)
355,368

132,930
0
(19,446)
351,590

783,050
227,800
(71,389)
558,393

754,708
182,240
(13,285)
491,423

0.40
4.66
8.95
1.16
1.07
97.29
2.59
-5.92
-17.12
-15.79

0.26
7.00
30.30
0.71
0.75
101.30
8.95
-11.05
-56.61
-45.14

0.34
1.43
51.67
0.56
0.75
97.41
10.37
-2.35
-24.88
-16.58

0.38
0.09
22.22
1.46
0.72
98.11
6.29
-0.57
-5.05
-4.15

0.46
0.54
24.26
0.82
1.00
101.25
2.06
-5.09
-20.29
-13.06

0.51
1.03
20.32
1.06
1.02
96.88
1.74
-0.44
-1.27
-0.79

Items

584,896
290,074
18,742
0

749,151
10,224
366,208
107,942
159,785
104,992
697,518
374,691
322,827
52,161

52,161
289,546
56,825
56,825
0
232,721

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,205,872
1,200,281
5,591
1,173,185

32,687
50,027

50,027

56,225

(73,565)
6,034
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.29

2.06
-1.48
-16.57
0.06
-19.02
16.23

2.00
-71.71
-4.24
0.05
-4.16
13.69

6.83

4.55
-9.00
-5.18
0.08
-12.56
81.21

7.00
0.57
-0.42
0.10
-2.34
86.43

-6.10
0.00
-14.01
50.95

44

-0.38
0.05
-3.42
22.57

Financial Statement Analysis of Non Financial Sector 2013

Dewan Mushtaq Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

338,622

334,554
192
739,439
304,122
34,971
0
29,400
841
389,424
6,013
112,120
223,609
0
47,682
391,714
233,837
157,877
242,499
187,500
0
0
23,672
31,327
89,765
34,340
34,340
0
55,425
(5,300)
60,725
0

304,127
192
739,220
272,900
31,253
0
30,195
841
503,798
2,785
116,046
336,673
0
48,295
542,305
334,602
207,703
135,123
83,333
0
0
23,065
28,726
130,497
34,340
34,340
0
96,157
0
96,157
0

301,569
192
742,347
248,690
28,106
0
51,846
841
553,300
3,209
93,868
376,749
0
79,474
669,333
440,984
228,349
22,399
0
0
0
22,399
0
163,137
34,340
34,340
0
128,797
0
128,797
0

753,747
0
1,271,317
720,329
57,742
0
32,577
841
619,264
12,975
203,134
312,276
0
90,879
213,652
53,250
160,402
601,014
480,082
0
0
22,437
98,495
558,345
34,340
34,340
0
148,828
0
148,828
375,177

716,363
0
1,278,009
665,464
62,491
0
50,058
841
685,471
9,736
147,920
413,040
0
114,775
330,641
142,578
188,063
508,938
384,065
0
0
24,650
100,223
562,255
34,340
34,340
0
178,040
0
178,040
349,875

1,033,717
1,011,121
22,596
997,035
640,441
356,594
36,682
39,844
18,173
21,671
102,540
69,799
67,723
(78,260)
264
0
0
(278,877)

1,051,558
1,051,558
0
979,882
680,650
299,232
71,676
28,376
8,135
20,242
100,757
763
118
38,092
5,262
0
0
906

1,504,373
1,492,643
11,730
1,473,869
1,164,322
309,547
30,504
32,775
4,876
27,899
122,402
299
0
(2,041)
15,696
0
0
(18,856)

1,401,777
1,401,777
0
1,352,881
1,152,959
199,922
48,896
40,418
5,997
34,421
122,467
11,109
10,781
(2,318)
14,019
0
0
200,411

1,590,564
1,590,564
0
1,521,546
1,082,290
439,256
69,018
50,199
36,464
13,735
155,343
23,213
22,256
(3,889)
7,953
0
0
33,855

222,740
0
(41,624)
129,674

332,264
187,500
(78,524)
421,337

265,620
83,333
32,831
417,935

185,536
0
(17,738)
440,984

1,159,359
480,082
(16,337)
533,332

1,071,193
384,065
(11,842)
526,643

0.38
2.10
8.50
1.70
0.83
98.95
3.02
-2.96
-11.94
-11.94

0.59
6.75
21.63
1.43
0.99
96.45
7.07
-9.66
-50.09
-28.20

0.63
0.07
32.02
1.30
0.93
93.18
5.19
4.97
34.59
12.74

0.57
0.02
25.04
1.76
0.83
97.97
4.24
-0.25
-1.39
-0.90

1.52
0.79
22.28
1.02
2.90
96.51
1.46
-0.21
-0.64
-0.34

1.28
1.46
25.97
1.13
2.07
95.66
1.49
-0.28
-0.69
-0.35

Items

738,776
338,622
35,880
0

557,613
27,809
257,230
129,845
98,329
44,400
673,495
129,674
543,821
0

0
222,740
34,340
34,340
0
188,400

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,526,823
1,446,391
80,432
1,510,847

15,976
17,819

17,819

32,045

(33,715)
7,909
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.94

9.22
-0.16
-7.57
-0.44
-22.87
26.14

9.06
324.17
3.62
0.00
9.56
38.00

16.03

6.90
0.78
-0.17
0.25
-4.76
162.59

10.75
0.83
-0.24
0.04
-3.45
163.73

-2.21
0.00
-12.12
64.86

45

-0.14
-0.03
-5.17
47.51

Financial Statement Analysis of Non Financial Sector 2013

Dewan Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,278,803

1,480,394
153,936
2,461,995
1,156,574
111,345
0
154,347
15,538
2,420,105
6,560
1,284,780
1,046,271
0
82,494
3,156,287
2,154,917
1,001,370
802,532
782,665
0
0
19,867
0
(58,320)
135,046
135,046
0
(193,366)
(27,826)
(165,540)
0

1,362,737
19,654
2,599,113
1,174,381
119,732
0
158,519
10,184
2,308,180
3,825
1,093,251
1,103,460
0
107,644
3,125,450
2,199,822
925,628
527,041
498,681
0
0
28,361
0
18,426
135,046
135,046
0
(116,620)
0
(116,620)
0

1,382,327
23,187
2,621,366
1,076,763
119,871
0
272,194
10,184
3,130,563
19,386
1,326,750
1,592,802
0
191,625
4,252,242
2,808,885
1,443,358
245,503
216,276
0
0
29,227
0
15,145
135,046
135,046
0
(119,901)
113,675
(233,576)
0

2,294,336
4,627
3,759,190
2,070,823
143,764
0
171,033
47,853
3,092,354
31,735
1,367,943
1,574,630
0
118,046
1,005,264
554,928
450,336
3,962,760
3,687,994
0
0
27,466
247,300
418,666
135,046
135,046
0
(536,287)
12,515
(548,802)
819,907

1,970,856
5,455
3,799,210
1,911,479
199,364
0
0
53,922
3,641,664
40,407
1,615,175
1,579,944
0
406,138
1,590,858
1,210,832
380,026
3,458,085
3,230,942
0
0
24,904
202,239
563,577
135,046
135,046
0
(339,838)
83,431
(423,269)
768,369

3,113,780
1,595,498
1,518,282
3,339,237
54,515
3,284,722
(225,457)
154,146
88,295
65,851
72,660
297,077
256,982
(659,196)
17,386
0
0
(44,688)

3,441,743
3,195,071
246,672
3,265,735
40,274
3,225,460
176,009
81,185
24,302
56,883
258,925
31,599
22,880
67,087
18,692
0
0
108,808

4,698,604
4,418,121
280,483
4,689,552
4,064,786
624,766
9,051
55,707
17,847
37,860
280,925
19,821
14,664
(65,551)
51,404
0
0
96,325

3,157,520
2,598,005
559,515
3,254,774
2,430,930
823,844
(97,254)
84,578
47,007
37,571
302,582
143,877
122,488
(317,525)
31,351
0
0
282,180

3,928,180
2,070,275
1,857,905
3,602,623
2,496,924
1,105,699
325,557
167,150
123,423
43,727
379,554
109,700
98,903
58,441
29,507
0
0
257,011

1,695,842
0
(230,881)
1,753,896

744,212
782,665
(676,582)
2,937,581

545,467
498,681
48,396
2,698,503

260,648
216,276
(116,956)
3,025,160

4,381,426
3,687,994
(348,876)
4,242,922

4,021,662
3,230,942
28,934
4,441,774

0.46
8.85
20.78
0.75
1.16
94.52
3.54
-4.91
-15.77
-11.88

0.33
9.54
33.60
0.80
0.77
107.24
-67.88
-16.04
-147.74
-54.03

0.35
0.92
32.06
0.94
0.74
94.89
198.22
1.77
-336.33
10.40

0.38
0.42
33.90
1.04
0.74
99.81
296.98
-1.60
-390.52
-16.26

1.60
4.56
49.87
0.59
3.08
103.08
11.87
-6.41
-146.39
-13.68

Items

2,231,600
1,278,803
109,259
0

3,038,360
12,507
1,714,936
671,730
516,229
122,958
2,621,321
1,753,896
867,425
745,176

745,176
950,666
135,046
135,046
0
815,620

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

3,232,639
1,815,288
1,417,351
3,055,428

177,211
115,989

115,989

285,935

(212,863)
18,018
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.88

2.42
-1.57
-21.17
-0.01
-50.10
-4.32

3.15
3.93
1.95
0.03
3.58
1.36

3.54
-3.47
-1.40
0.02
-8.66
1.12

2.31
-1.59
-10.06
0.06
-25.83
31.00

2.43
1.59
1.49
0.05
2.14
41.73

-6.58
0.00
-17.10
70.40

46

1.02
2.79
40.22
0.70
2.29
91.71
8.96
1.06
11.90
1.39

Financial Statement Analysis of Non Financial Sector 2013

Din Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,899,186

1,743,569
3,120
3,221,476
1,733,348
187,217
0
0
7,101
1,423,325
14,403
515,264
560,983
0
332,675
1,380,077
1,170,363
209,714
684,147
83,742
500,000
0
52,008
48,397
1,102,670
185,303
185,303
0
917,367
10,376
906,991
0

1,682,729
85,817
3,231,178
1,584,345
170,199
0
0
12,567
1,734,752
24,666
864,830
547,900
0
297,357
1,691,536
1,153,448
538,088
263,397
159,701
0
0
49,729
53,968
1,462,548
185,303
185,303
0
1,277,245
10,376
1,266,869
0

1,650,481
9,089
3,433,258
1,628,052
165,920
0
0
13,340
3,975,148
57,830
1,836,369
1,000,965
0
1,079,984
3,031,932
2,629,587
402,345
316,857
173,850
0
0
64,972
78,035
2,276,840
203,834
203,834
0
2,073,007
10,377
2,062,630
0

1,850,810
129,834
3,518,961
1,565,851
167,706
0
0
155,125
2,511,156
74,424
1,128,025
1,005,597
0
303,110
2,398,881
758,828
1,640,053
396,498
321,030
0
0
75,468
0
1,566,587
203,834
203,834
0
1,362,753
10,377
1,352,376
0

2,586,699
36,698
4,842,705
2,377,244
188,471
16,042
0
156,715
3,789,281
76,707
1,713,102
1,356,977
0
642,495
3,230,981
401,248
2,829,733
939,365
840,878
0
0
98,487
0
2,205,634
203,834
203,834
0
2,001,800
10,377
1,991,423

3,712,392
2,513,709
1,198,683
3,324,878
2,257,391
1,067,487
387,514
169,895
115,092
54,803
306,478
142,461
130,641
84,893
12,021
0
0
86,975

4,691,884
2,845,008
1,846,877
3,767,900
2,569,545
1,198,355
923,984
307,965
195,201
112,765
337,492
213,463
196,789
414,043
40,474
37,061
18,530
307,799

7,574,654
891,012
6,683,643
6,099,469
5,044,382
1,055,087
1,475,185
233,988
85,674
148,314
455,190
330,083
303,055
925,683
76,786
40,767
0
(188,524)

7,358,489
4,369,464
2,989,025
7,563,546
5,565,977
1,997,569
(205,057)
245,236
141,184
104,052
451,613
405,577
382,758
(833,895)
29,611
0
0
254,778

8,307,373
1,328,659
6,978,714
7,010,988
4,884,762
2,126,226
1,296,385
273,412
112,645
160,767
636,408
307,066
284,897
731,775
82,362
101,917
20,383
439,812

1,336,827
0
116,537
771,247

1,786,817
83,742
72,872
1,254,105

1,725,945
159,701
336,508
1,313,149

2,593,697
173,850
808,130
2,803,437

1,963,085
321,030
(863,506)
1,079,858

3,144,999
840,878
547,496
1,242,126

0.34
4.55
11.68
1.37
1.03
80.31
1.34
12.58
32.28
23.57
10.08
5.43
3.10
8.82
0.16
20.16
78.93

0.35
4.36
13.21
1.35
1.31
80.52
1.47
20.47
49.51
42.86
20.82
4.12
4.05
12.22
-0.06
41.65
111.70

0.45
5.51
13.67
1.69
1.05
102.79
1.78
-16.70
-43.39
-36.60

0.44
3.70
16.33
1.30
1.17
84.39
1.89
13.63
38.80
28.65
6.37
4.85
3.57
8.81
0.11
31.86
108.21

Items

3,207,269
1,899,186
200,116
0

1,229,579
23,599
559,266
416,960
0
229,754
1,791,938
771,247
1,020,691
263,786

263,786
1,073,041
185,303
185,303
0
887,738

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

3,101,040
1,504,079
1,596,961
2,765,929

335,111
98,555

98,555

114,212

132,360
15,823
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


0.25
3.68
13.45
0.99
0.69
89.19
1.92
4.21
13.48
9.69

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.54

7.20
1.65
2.29
0.04
3.93
59.51

4.27
0.00
6.29
57.91

47

0.42
3.84
15.11
1.17
1.03
89.56
1.87
2.70
7.80
5.44

6.52
-1.18
-11.33
0.09
-42.36
76.86

Financial Statement Analysis of Non Financial Sector 2013

Elahi Cotton Mills Ltd.


Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

2009

2010

2011

43,387

42,753
0
100,783
41,834
1,737
0
0
919
5,937
573
4,244
0
0
1,120
14,037
0
14,037
71,584
0
66,798
0
2,287
2,500
(36,931)
13,000
13,000
0
(76,599)
0
(76,599)
26,668

63,277
0
123,042
62,358
1,736
0
0
919
9,505
3,789
3,796
0
0
1,921
10,250
0
10,250
90,159
0
78,624
0
2,635
8,900
(27,627)
13,000
13,000
0
(82,530)
0
(82,530)
41,903

60,581
0
123,741
59,662
3,396
0
0
919
10,225
2,396
6,183
0
0
1,646
9,220
0
9,220
91,045
0
78,774
0
3,212
9,060
(29,459)
13,000
13,000
0
(83,757)
0
(83,757)
41,298

59,761
0
125,551
58,724
3,228
0
0
1,037
12,040
2,107
7,781
657
0
1,495
8,133
0
8,133
92,105
0
80,024
0
3,613
8,468
(28,437)
13,000
13,000
0
(81,469)
0
(81,469)
40,032

139,722
139,722
0
143,243
112,926
30,318
(3,521)
1,806
0
1,806
15,034
756
0
(4,691)
0
0
0
179,045

150,011
150,011
0
154,779
121,035
33,744
(4,768)
1,563
0
1,563
15,860
416
0
(6,555)
0
0
0
(220)

206,404
206,404
0
203,932
162,455
41,477
2,472
2,515
0
2,515
19,453
107
19
485
2,157
0
0
(823)

211,215
211,215
0
206,030
159,248
46,782
5,185
3,106
0
3,106
22,145
98
0
2,544
2,114
0
0
460

255,845
255,845
0
252,044
192,828
59,216
3,801
3,553
0
3,553
28,962
88
0
3,319
1,280
0
0
4,875

(28,276)
0
14,452
0

34,653
0
(4,691)
0

62,532
0
(6,555)
0

61,586
0
(1,672)
0

63,668
0
430
0

61,659
0
2,039
0

0.01
0.14
0.00
2.94
0.09
101.58
-2.54
29.68
-38.31
-40.60

0.04
0.54
0.00
2.87
0.42
102.52
-2.32
-9.47
13.46
-147.10

0.37
0.28
0.00
2.06
0.93
103.18
-3.63
-10.79
20.31
-13.49

0.26
0.05
0.00
2.92
1.11
98.80
-3.40
0.68
-1.70
0.78

104,015
43,387
1,922
0

7,025
568
4,685
0
0
1,772
78,688
0
78,688
4,468

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

4,468
(32,744)
13,000
13,000
0
(45,744)

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

58,656

127,017
57,022
3,168

1,634
13,181
2,418
7,455
2,067
0
1,241
10,178
0
10,178
87,115
0
75,024
0
4,678
7,413
(25,456)
13,000
13,000
0
(77,513)
0
(77,513)
39,057

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

148,163
148,163
0
150,498

(2,335)
1,365

1,365

201

15,199
747
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

48

0.34
0.05
0.31
2.94
1.48
97.55
-3.52
3.57
-8.79
4.06

0.44
0.03
0.81
3.56
1.30
98.51
-3.82
4.62
-12.32
5.30

31.62

32.92

39.52

33.38
26.05
0.24
-0.01
-1.29
-22.66

27.14

34.32

10.26
0.00
11.12
-25.19

-3.36
2.09
-3.61
-28.41

-4.37
0.00
-5.04
-21.25

1.20
0.00
0.33
-21.87

1.30
0.05
1.57
-19.58

Financial Statement Analysis of Non Financial Sector 2013

Ellcot Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

957,356

923,594
13,758
1,621,703
904,722
97,355
0
0
5,114
902,086
16,336
583,005
185,809
0
116,936
892,181
777,339
114,842
464,639
407,694
0
0
15,532
41,414
468,860
109,500
109,500
0
359,360
7,760
351,600
0

894,119
0
1,694,203
886,961
91,252
0
0
7,158
831,559
13,259
595,116
119,778
0
103,406
691,251
476,565
214,686
445,146
367,712
0
0
14,025
63,409
589,281
109,500
109,500
0
479,781
7,760
472,021
0

904,403
2,748
1,791,878
894,497
92,906
0
0
7,158
1,332,945
136,528
913,069
61,096
146,238
76,013
1,005,056
776,083
228,973
329,235
224,958
0
0
12,665
91,612
903,057
109,500
109,500
0
793,557
7,760
785,797
0

903,094
0
1,860,089
895,585
93,612
0
0
7,509
949,108
16,233
746,409
88,104
45
98,317
566,726
379,639
187,087
312,665
223,505
0
0
13,520
75,640
972,812
109,500
109,500
0
863,312
7,760
855,552
0

1,009,687
0
2,015,892
1,002,596
94,379
0
0
7,091
1,175,588
105,093
697,920
200,970
0
171,605
518,190
262,353
255,837
396,820
303,754
0
0
17,928
75,138
1,270,265
109,500
109,500
0
1,160,765
7,760
1,153,005
0

2,441,020
1,910,310
530,710
2,167,921
1,452,354
715,567
273,099
86,207
38,986
47,221
145,179
184,066
175,677
5,254
1,232
8,213
0
50,931

3,186,160
1,581,145
1,605,015
2,772,370
1,959,108
813,262
413,790
109,721
53,332
56,389
156,771
140,059
132,903
166,678
16,049
38,325
0
406,102

4,991,956
2,193,028
2,798,929
4,302,712
3,274,725
1,027,986
689,245
139,654
56,182
83,471
210,151
137,923
124,894
421,921
58,648
76,650
0
234,229

4,025,287
2,366,213
1,659,074
3,592,548
2,801,250
791,298
432,739
116,403
37,817
78,586
215,921
129,144
113,170
200,009
41,415
54,750
0
311,552

4,858,426
2,634,867
2,223,559
4,203,670
3,158,938
1,044,732
654,756
154,723
50,724
103,999
301,967
82,196
72,502
422,250
70,548
10,950
0
383,938

955,983
0
75,180
647,875

933,499
407,694
(4,190)
1,185,032

1,034,427
367,712
112,304
844,277

1,232,292
224,958
286,623
1,001,041

1,285,477
223,505
103,844
603,144

1,667,085
303,754
340,752
566,107

0.23
5.14
7.90
1.02
1.00
85.47
2.73
4.83
18.24
8.51

0.23
7.54
7.61
1.34
1.01
88.81
2.89
0.29
1.10
0.56
0.49
4.19
1.03
0.22
0.04
0.37
42.82

0.19
4.40
3.76
1.85
1.20
87.01
1.93
9.39
31.50
16.94
3.93
5.35
2.25
5.23
0.36
13.76
53.82

0.34
2.76
1.22
2.23
1.33
86.19
1.48
21.29
56.55
37.23
4.74
5.47
4.38
8.45
0.18
33.18
82.47

0.18
3.21
2.19
2.17
1.67
89.25
0.90
9.78
21.32
15.89
2.90
5.39
2.77
4.97
0.35
14.48
88.84

0.59
1.69
4.14
2.22
2.27
86.52
0.72
20.92
37.65
28.60
32.12
6.96
6.82
8.69
0.42
32.12
116.01

Items

1,578,462
957,356
99,665
0

849,137
53,643
565,470
145,492
0
84,532
850,510
647,875
202,635
471,695

471,695
484,288
109,500
109,500
0
374,788

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,841,530
1,226,018
615,512
1,574,006

267,524
96,686

96,686

94,675

84,387
9,207
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.26

4.58
0.00
6.87
44.23

49

Financial Statement Analysis of Non Financial Sector 2013

Faisal Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,603,724

1,624,424
16
2,684,970
1,461,870
164,554
0
153,005
9,534
1,206,601
13,327
822,996
235,948
0
134,330
1,243,805
1,005,922
237,883
551,840
380,446
89,286
0
42,854
39,254
1,035,380
100,000
100,000
0
935,380
850,000
85,380
0

1,623,573
44,241
2,709,472
1,340,344
152,367
0
230,414
8,574
1,300,547
74,334
893,253
190,746
0
142,214
1,201,785
866,699
335,086
291,824
121,716
100,000
0
50,118
19,990
1,430,511
100,000
100,000
0
1,330,511
1,250,000
80,511
0

1,858,301
1,599
2,997,041
1,513,758
137,924
0
337,174
5,770
1,733,162
37,740
1,262,850
243,342
0
189,229
1,218,843
704,273
514,569
333,555
260,186
0
0
59,294
14,075
2,039,065
100,000
100,000
0
1,939,065
1,800,000
139,065
0

1,871,730
46,674
3,080,826
1,439,395
161,237
0
380,629
5,032
1,737,077
35,981
1,189,893
319,241
0
191,962
1,086,663
636,063
450,600
259,081
177,450
0
0
64,851
16,780
2,263,063
100,000
100,000
0
2,163,063
2,100,000
63,063
0

2,234,147
377,112
3,181,943
1,404,362
155,025
0
447,640
5,033
2,856,422
83,427
2,089,299
397,154
0
286,542
1,443,743
1,014,421
429,322
635,532
534,477
0
0
79,050
22,005
3,011,294
100,000
100,000
0
2,911,294
2,800,000
111,294
0

4,271,909
1,587,284
2,684,625
3,826,875
2,665,565
1,161,311
445,034
99,948
66,205
33,743
222,766
264,679
235,632
94,133
29,567
7,500
0
704,036

5,230,637
472,128
4,758,509
4,355,164
3,534,449
820,715
875,473
310,596
225,605
84,991
278,763
211,118
173,543
434,382
52,514
50,000
0
539,872

9,137,112
355,233
8,781,879
7,888,159
6,798,144
1,090,015
1,248,953
386,214
307,219
78,994
317,075
223,734
181,857
756,359
96,367
75,000
0
295,579

7,632,725
874,045
6,758,680
6,772,260
5,313,747
1,458,513
860,465
356,922
253,320
103,602
332,653
186,617
155,050
375,498
77,166
50,000
0
444,639

8,488,787
7,745,649
743,138
7,202,119
5,925,586
1,276,533
1,286,668
334,409
232,421
101,988
421,708
154,786
128,234
875,947
76,746
50,000
0
(192,411)

1,616,592
0
78,865
902,504

1,587,220
380,446
57,066
1,386,368

1,722,335
121,716
331,868
988,415

2,372,619
260,186
584,992
964,459

2,522,144
177,450
248,332
813,513

3,646,826
534,477
749,201
1,548,898

0.30
5.06
7.13
1.22
1.01
90.01
1.88
3.58
10.33
6.57
79.87
4.24

0.20
6.20
5.52
1.51
0.97
89.58
1.73
3.21
9.00
5.88
8.61
5.19
1.40
2.20
0.39
6.46
103.54

0.22
4.04
3.65
1.79
1.08
83.26
1.04
15.10
35.23
26.25
7.64
5.86
3.50
8.30
0.36
38.19
143.05

0.23
2.45
2.66
2.54
1.42
86.33
0.76
23.22
43.60
36.94
8.80
7.24
5.16
8.28
0.19
66.00
203.91

0.33
2.44
4.18
2.12
1.60
88.73
0.59
10.43
17.46
15.34
5.97
6.41
3.42
4.92
0.33
29.83
226.31

0.33
1.82
4.68
1.67
1.98
84.84
0.69
20.14
33.22
28.40
15.98
4.06
7.83
10.32
-0.09
79.92
301.13

Items

2,666,969
1,603,724
184,328
0

1,438,196
26,622
877,948
265,447
140,845
127,334
1,425,328
902,504
522,824
559,353

559,353
1,057,239
100,000
100,000
0
957,239

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

3,725,554
1,722,945
2,002,609
3,353,490

372,064
95,652

95,652

188,532

107,659
27,794
1,000
37,000

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.89
0.00
7.99
105.72

50

Financial Statement Analysis of Non Financial Sector 2013

Fateh Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

2,140,103

2,636,343
112,655
4,386,395
1,995,513
85,134
0
524,358
3,818
6,983,246
11,005
1,761,621
4,949,819
0
260,801
5,587,473
3,820,992
1,766,482
1,349,221
1,263,841
51,000
0
8,381
26,000
2,682,895
12,500
12,500
0
1,524,652
420
1,524,232
1,145,743

2,809,304
276,563
4,539,688
2,003,223
91,713
0
525,701
3,818
7,267,916
13,412
1,303,099
5,655,316
0
296,089
6,094,464
3,836,223
2,258,241
1,349,016
1,246,543
51,000
0
10,473
41,000
2,633,740
12,500
12,500
0
1,529,368
1,764
1,527,604
1,091,873

2,972,293
568,933
4,540,387
1,873,016
82,422
0
526,527
3,818
7,569,818
24,317
1,495,965
5,850,126
0
199,409
3,649,254
858,201
2,791,053
4,306,418
4,211,340
51,000
0
5,549
38,529
2,586,439
12,500
12,500
0
1,530,550
2,591
1,527,958
1,043,389

3,073,359
782,334
4,546,434
1,760,794
74,633
0
526,414
3,817
6,495,273
16,698
1,458,155
4,801,692
0
218,728
4,624,913
2,271,752
2,353,161
2,398,154
2,311,589
51,000
0
7,213
28,352
2,545,565
12,500
12,500
0
1,533,311
2,478
1,530,833
999,754

3,073,359
782,334
4,546,434
1,760,794
74,633
0
526,414
3,817
6,495,273
16,698
1,458,155
4,801,692
0
218,728
4,624,913
2,271,752
2,353,161
2,398,154
2,311,589
51,000
0
7,213
28,352
2,545,565
12,500
12,500
0
1,533,311
2,478
1,530,833
999,754

3,050,989
426,985
2,624,004
2,971,848
2,767,606
204,242
79,140
115,536
19,022
96,514
84,792
428,826
427,574
39,026
5,000
1,250
0
(220,527)

2,442,559
874,205
1,568,354
2,423,991
2,067,897
356,094
18,568
85,394
18,450
66,944
129,650
561,197
559,746
27,722
8,100
1,875
0
351,294

2,825,315
736,439
2,088,875
2,282,067
2,066,904
215,163
543,248
69,365
12,178
57,187
85,797
550,330
549,759
4,952
15,722
1,250
0
310,567

2,684,459
760,249
1,924,210
2,405,538
2,045,257
360,281
278,921
435,605
10,833
424,772
108,645
95,237
94,776
12,124
10,000
625
0
1,207,613

2,684,459
760,249
1,924,210
2,405,538
2,045,257
360,281
278,921
435,605
10,833
424,772
108,645
95,237
94,776
12,124
10,000
625
0
1,207,613

4,032,116
1,263,841
32,776
5,084,832

3,982,756
1,246,543
17,747
5,082,766

6,892,857
4,211,340
(12,021)
5,069,542

4,943,719
2,311,589
1,499
4,583,341

4,943,719
2,311,589
1,499
4,583,341

1.61
19.48
207.06
0.27
2.07
80.77
3.08
0.05
0.19
0.09
-8.62
1.89
1.01
0.18
0.04
-8.62
2,069.15

1.04
3.55
178.87
0.28
1.40
89.61
2.76
0.12
0.47
0.20
3.40
1.84
1.13
0.45
0.17
1.70
2,036.45

1.04
3.55
178.87
0.28
1.40
89.61
2.76
0.13
0.48
0.25
3.40
1.84
1.13
0.45
0.17
1.70
2,036.45

Items

4,385,995
2,140,103
94,877
0

6,753,510
12,598
2,125,628
3,848,164
526,032
241,088
4,680,474
2,708,582
1,971,892
1,501,489

1,501,489
2,711,650
12,500
12,500
0
2,699,150

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

4,794,218
850,404
3,943,814
4,350,438

443,780
129,402

129,402

390,108

37,557
29,500
9,375
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

4,213,139
0
(1,318)
2,708,582

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.94
8.14
80.27
0.54
1.44
90.74
2.28
0.45
1.37
0.87
0.86
2.26

0.78
0.00
6.45
2,169.32

51

0.89
14.06
162.24
0.32
1.25
97.41
2.59
0.42
1.45
0.95
27.22
1.73
1.09
1.28
-0.03
27.22
2,146.32

0.93
22.98
231.53
0.24
1.19
99.24
2.83
0.28
1.04
0.69
10.47
1.87
1.05
1.13
0.05
15.70
2,106.99

Financial Statement Analysis of Non Financial Sector 2013

Fatima Enterprises Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

3,271,019

4,445,080
2,626
5,820,275
4,329,858
157,155
0
58,459
54,137
4,655,607
173,006
3,293,669
332,471
0
856,461
5,206,111
3,931,123
1,274,988
2,065,560
1,393,675
597,006
0
35,077
39,802
1,829,016
142,310
142,310
0
752,927
18,648
734,279
933,779

4,354,033
389
5,923,436
4,256,856
176,163
0
58,459
38,329
4,024,649
79,828
2,679,930
453,214
0
811,677
4,334,810
3,189,683
1,145,127
1,977,404
1,301,973
607,516
0
28,113
39,802
2,066,468
142,310
142,310
0
990,379
18,648
971,731
933,779

4,336,452
0
6,068,858
4,232,279
172,780
0
58,459
45,714
4,408,881
67,299
2,803,007
477,935
0
1,060,640
4,886,145
3,575,483
1,310,662
1,676,816
1,035,428
571,957
0
29,629
39,802
2,182,372
142,310
142,310
0
1,106,283
18,648
1,087,635
933,779

4,153,484
3,693
6,043,626
4,044,564
163,411
0
58,459
46,768
4,631,702
28,895
2,692,314
464,806
0
1,445,687
5,243,881
3,342,994
1,900,887
1,603,408
671,997
859,586
0
31,662
40,163
1,937,897
142,310
142,310
0
861,808
18,648
843,160
933,779

3,976,221
3,693
5,962,884
3,864,055
161,324

7,654,539
5,868,803
1,785,736
6,735,425
6,679,554
55,871
919,114
154,693
0
154,693
228,531
797,091
769,939
501,666
336
0
0
2,327,189

7,894,355
6,301,113
1,593,242
6,908,250
6,410,104
498,146
986,105
121,007
0
121,007
566,263
614,905
594,193
261,183
38,692
0
0
1,459,148

9,288,025
6,038,639
3,249,386
8,331,008
1,181,889
7,149,119
957,017
124,757
0
124,757
492,401
633,001
593,253
208,784
92,880
0
0
809,436

5,839,671
3,568,217
2,271,454
5,375,595
5,183,429
192,166
464,076
96,174
0
96,174
376,002
548,939
522,384
(186,078)
58,397
0
0
677,619

6,192,425
3,791,541
2,400,884
5,816,257
5,351,597
464,660
376,168
102,993
0
102,993
432,758
448,377
415,405
(138,407)
30,962
0
0
970,228

2,330,196
0
59,452
4,674,523

3,894,576
1,393,675
501,330
5,324,798

4,043,872
1,301,973
222,491
4,491,656

3,859,188
1,035,428
115,904
4,610,911

3,541,305
671,997
(244,475)
4,014,991

3,538,391
526,113
(169,369)
3,114,899

0.10
10.41
4.34
0.84
0.89
87.99
3.98
5.70
35.48
16.12

0.12
7.79
5.74
0.94
0.93
87.51
3.05
2.99
13.41
6.58

0.11
6.82
5.15
1.06
0.90
89.70
3.01
2.44
9.83
5.28

0.09
9.40
7.96
0.66
0.88
92.05
3.53
-2.12
-9.03
-5.03

0.08
7.24
4.81
0.77
0.90
93.93
3.57
-1.64
-7.47
-3.91

Items

4,601,171
3,271,019
252,839
0

5,232,393
154,820
3,562,286
671,637
760
842,890
6,173,216
4,674,523
1,498,693
1,331,035

1,331,035
999,161
142,310
142,310
0
856,851

58,159
50,314
4,112,679
47,109
2,599,932
298,019
0
1,167,619
4,550,509
2,588,786
1,961,723
1,769,863
526,113
1,168,253
0
35,695
39,802
1,768,528
142,310
142,310

692,439
18,648
673,791
933,779

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

9,736,403
8,167,273
1,569,130
8,999,814

736,589
109,837

109,837

580,582

115,667
49,100
7,115
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


0.13
5.96
6.90
1.14
0.85
92.43
7.51
1.54
13.15
5.31
9.36
2.73

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.19
0.00
4.68
70.21

52

2.32
1.65
6.55
0.32
35.23
128.52

2.95
1.44
3.31
0.23
15.63
145.21

3.31
1.35
2.25
0.12
8.14
153.35

2.17
0.64
-3.19
0.10
-17.18
136.17

2.38
0.67
-2.24
0.15
-11.90
124.27

Financial Statement Analysis of Non Financial Sector 2013

Fazal Cloth Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

5,763,022

6,214,254
71,598
7,735,510
5,655,304
261,447
7,063
467,888
12,401
3,584,952
77,400
2,222,091
739,100
0
546,361
3,144,491
2,666,625
477,865
2,669,147
1,688,473
0
0
48,482
932,192
3,985,568
437,552
187,552
250,000
1,263,107
127,616
1,135,491
2,284,908

7,450,116
24,558
8,253,593
5,921,186
266,402
6,221
1,483,753
14,399
4,329,573
123,498
2,645,453
883,730
0
676,893
3,542,361
2,620,502
921,859
2,752,072
1,645,081
0
0
56,057
1,050,934
5,485,257
437,552
187,552
250,000
2,625,364
177,616
2,447,748
2,422,341

8,252,260
156,084
9,517,636
6,908,779
286,795
4,539
1,156,822
26,037
6,184,362
191,635
3,410,214
1,767,710
0
814,802
5,444,033
4,546,984
897,049
3,345,622
2,229,955
0
0
71,446
1,044,221
5,646,967
362,552
187,552
175,000
3,091,916
473,780
2,618,136
2,192,499

13,027,650
162,920
14,096,422
11,092,154
411,216
3,398
1,743,404
25,774
6,740,679
71,988
3,774,011
2,012,188
0
882,492
5,499,184
4,447,019
1,052,165
5,441,118
3,866,789
0
0
85,597
1,488,732
8,828,027
401,000
226,000
175,000
4,636,705
1,036,666
3,600,039
3,790,322

14,299,878
333,524
15,635,262
12,117,468

8,651,230
4,953,370
3,697,860
7,455,193
5,533,097
1,922,096
1,196,037
273,076
157,207
115,869
508,179
752,731
704,898
179,526
37,653
0
0
746,180

11,210,977
5,859,586
5,351,391
9,638,169
6,749,904
2,888,265
1,572,808
358,711
187,079
171,632
707,712
620,940
557,903
729,257
172,369
187,552
0
1,117,586

18,933,932
10,246,074
8,687,858
16,908,218
13,015,793
3,892,425
2,025,714
474,158
257,635
216,522
819,147
816,526
724,176
1,001,407
132,021
93,776
38,448
(130,445)

19,750,444
11,470,375
8,280,069
16,919,254
12,671,610
4,247,644
2,831,190
522,418
242,625
279,793
994,056
1,103,134
1,049,352
1,648,622
202,835
45,200
23,956
805,343

20,558,588
12,015,690
8,542,898
17,668,351
13,001,668
4,666,683
2,890,237
590,646
256,770
333,876
1,342,697
1,053,256
937,956
1,466,971
62,014
62,500
50,000
105,510

6,395,673
0
304,820
2,383,651

6,654,715
1,688,473
141,873
4,355,098

8,237,329
1,645,081
369,336
4,265,583

8,992,589
2,229,955
775,610
6,776,939

14,269,145
3,866,789
1,400,587
8,313,808

16,330,756
4,717,122
1,342,457
9,941,991

0.46
8.09
9.76
0.73
1.19
86.73
1.50
3.77
13.17
8.60

0.26
8.70
8.54
0.88
1.14
86.17
1.46
1.84
4.56
2.75

0.28
5.54
7.88
0.95
1.22
85.97
1.15
6.76
15.40
9.79
2.97
4.24
2.31
6.50
0.18
29.69
292.47

0.36
4.31
9.34
1.31
1.14
89.30
1.56
7.64
17.99
11.62
9.27
5.55
2.38
5.29
-0.01
46.35
301.09

0.38
5.59
10.19
1.00
1.23
85.67
1.24
9.64
22.78
14.17
31.99
5.23
2.57
8.35
0.07
63.97
390.62

0.31
5.12
9.71
0.88
1.29
85.94
1.38
6.80
15.73
9.59
22.48
3.47
2.56
7.14
0.01
56.20
393.04

Items

7,395,952
5,760,032
121,075
2,990

3,950,588
369,533
2,012,300
694,168
467,888
406,699
3,317,937
2,383,651
934,286
2,511,598

2,511,598
3,884,075
437,552
187,552
250,000
3,446,523

3,628
1,817,108
28,150
9,102,759
217,398
5,928,619
1,995,628
0
961,114
7,071,881
5,224,869
1,847,012
6,504,717
4,717,122
0
0
99,908
1,687,687
9,826,039
250,000
250,000
0
5,880,149
1,048,576
4,831,573
3,695,890

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

7,113,961
4,003,841
3,110,120
6,170,241

943,720
268,811

268,811

575,642

340,234
35,414
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.54

3.89
1.25
2.08
0.13
7.56
212.50

4.78
0.00
16.25
207.09

53

Financial Statement Analysis of Non Financial Sector 2013

Fazal Textile Mills Ltd.


2008

2009

2010

2011

1,663,897

2,015,417
1,325,830
1,625,504
679,842
68,976
0
0
9,745
867,052
3,610
501,080
204,001
0
158,361
1,063,681
356,753
706,928
1,082,828
1,000,000
0
0
38,796
44,032
735,960
61,875
61,875
0
674,085
34,416
639,669
0

2,325,364
1,685,793
1,636,775
629,583
63,947
0
0
9,988
1,354,393
299,235
408,158
458,638
0
188,362
2,225,060
1,564,764
660,296
103,435
0
0
0
40,802
62,633
1,351,262
61,875
61,875
0
1,289,387
34,416
1,254,971
0

2,573,993
1,989,952
1,609,644
575,075
59,131
0
0
8,966
1,696,916
9,754
842,611
673,665
0
170,886
2,538,403
1,710,991
827,412
89,023
0
0
0
46,090
42,933
1,643,483
61,875
61,875
0
1,581,608
34,416
1,547,192
0

2,819,019
1,003,900
1,815,119
2,598,668
1,853,043
745,625
220,351
55,505
17,353
38,152
219,861
120,819
109,749
48,218
29,324
9,281
0
704,036

4,075,778
1,184,910
2,890,868
3,236,667
2,382,970
853,697
839,111
132,913
48,251
84,662
266,162
37,385
27,550
675,792
42,140
61,875
0
120,197

1,799,425
0
6,558
1,324,313

1,818,788
1,000,000
9,613
1,356,753

0.56
2.67
32.60
0.78
1.09
94.58
3.62
1.06
3.83
2.18

0.20
4.29
7.24
0.98
0.82
92.18
2.92
1.55
6.62
2.67
2.04
5.63
1.44
1.71
0.33
3.05
118.94

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

1,597,122
1,663,897
69,699
0

1,664,834
14,552
601,284
841,740
0
207,258
1,529,306
1,324,313
204,993
1,079,477

1,079,477
719,948
61,875
61,875
0
658,073

(Thousand Rupees)
2012
2013
3,305,283
1,100,859
3,298,307
2,197,596
86,455
0
5,569
1,259
1,920,668
13,054
911,268
792,566
0
203,780
2,739,741
2,298,313
441,428
748,141
675,000
0
46,972
26,169
1,738,069
61,875
61,875
0
1,676,194
34,416
1,641,778
0

4,693,414
1,969,546
3,878,659
2,704,638
160,816
0
17,971
1,259
2,743,921
19,325
1,285,971
1,154,876
0
283,749
3,038,175
2,385,064
653,111
2,249,595
1,500,000
675,000
0
55,781
18,814
2,149,565
61,875
61,875
0
2,087,690
34,416
2,053,274
0

5,775,193
2,082,804
3,692,389
5,076,895
4,217,740
859,155
698,298
273,359
210,813
62,546
301,739
43,331
23,737
393,626
59,230
37,125
0
(72,531)

4,698,249
1,927,707
2,770,542
4,303,727
3,019,304
1,284,423
394,522
214,330
155,229
59,101
336,842
22,854
9,126
162,918
46,988
24,750

5,909,410
2,283,588
3,625,822
5,088,513
3,769,133
1,319,380
820,897
280,445
194,872
85,573
447,864
89,656
34,143
457,923
16,521
30,938

1,454,697
0
571,777
1,564,764

1,732,506
0
297,271
1,710,991

2,486,210
0
91,180
2,298,313

0.34
0.92
11.25
1.11
0.61
79.41
1.72
20.60
64.76
41.29
10.24
9.99
25.53
16.58
0.05
102.41
218.39

0.27
0.75
11.66
1.35
0.67
87.91
1.60
9.90
26.29
24.70
9.01
6.85
17.58
6.82
-0.03
54.04
265.61

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,582,365
672,118
1,910,247
2,442,461

139,904
47,315

47,315

69,054

27,361
20,803
0
0

(402,900)

(21,931)

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

4,399,160
1,500,000
410,465
3,885,064

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.29

1.06
0.00
1.06
116.36

54

0.29
0.49
16.87
0.90
0.70
91.60
2.01
3.43
9.64
7.72
4.68
5.16
18.85
3.47
-0.12
18.74
280.90

0.39
1.52
19.54
0.79
0.90
86.11
2.46
7.23
23.56
13.30
14.27
4.60
14.41
7.75
0.00
71.34
347.40

Financial Statement Analysis of Non Financial Sector 2013

Feroze1888 Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,365,223

1,547,134
41,491
2,471,670
1,502,605
103,755
0
10
3,028
901,469
211,377
263,997
271,323
0
154,773
641,110
411,815
229,295
486,014
486,014
0
0
0
0
1,321,479
748,966
748,966
0
(21,047)
638,755
(659,802)
593,560

3,965,356
320,415
5,728,768
3,623,995
269,367
16,436
10
4,500
3,747,855
26,380
2,045,404
1,078,197
0
597,874
2,504,644
1,785,598
719,046
568,053
568,053
0
0
0
0
4,640,514
1,244,930
1,244,930
0
2,827,524
754,481
2,073,043
568,060

4,546,948
132,515
6,643,073
4,387,715
339,733
22,208
10
4,500
6,377,347
49,121
3,143,084
2,410,373
0
774,769
5,204,743
4,088,713
1,116,030
964,886
964,886
0
0
0
0
4,754,666
3,768,009
3,768,009
0
418,597
758,663
(340,066)
568,060

4,731,242
44,230
7,259,794
4,661,050
365,022
20,692
10
5,260
5,459,258
105,542
2,769,521
1,776,672
0
807,523
3,592,786
1,869,090
1,723,696
795,827
795,827
0
0
0
0
5,801,887
3,768,009
3,768,009
0
953,215
758,663
194,552
1,080,663

4,565,971
126,103
7,320,212
4,419,132
339,971
15,426
10
5,300
6,908,995
43,791
3,464,152
2,222,197
0
1,178,855
4,123,342
2,258,824
1,864,518
606,252
606,252
0
0
0
0
6,745,372
3,768,009
3,768,009
0
1,896,701
758,663
1,138,038
1,080,662

1,771,989
162,158
1,609,831
1,448,441
871,321
577,120
323,548
147,744
84,548
63,196
183,528
30,758
318
137,249
17,516
248,986
0
(46,145)

11,719,942
199,308
11,520,634
9,594,424
6,501,929
3,092,495
2,125,518
823,825
350,338
473,487
816,134
405,385
413,880
896,308
118,550
753,602
0
(1,185,951)

13,272,199
168,040
13,104,159
11,373,914
6,787,722
4,586,192
1,898,285
874,752
357,355
517,397
841,617
345,788
379,900
677,745
142,602
753,602
0
2,618,520

13,484,144
269,460
13,214,684
10,917,659
6,686,358
4,231,301
2,566,485
963,629
383,153
580,476
979,975
216,772
245,617
1,386,084
140,449
1,130,403

1,749,088
204,456
1,544,631
1,500,444
719,181
781,263
248,644
186,941
112,719
74,222
220,371
50,877
30,393
10,631
17,500
0
0
(76,646)

816,997
0
(105,683)
301,618

1,807,492
486,014
(6,869)
897,828

5,208,567
568,053
(129,253)
2,353,651

5,719,552
964,886
24,156
5,053,599

6,597,714
795,827
(218,459)
2,664,917

7,351,624
606,252
115,232
2,865,076

0.19
4.59
3.92
0.58
0.60
91.20
8.19
-4.25
-67.39
-12.82

0.75
2.91
15.51
0.71
1.41
85.78
0.85
0.46
1.36
0.81

0.44
1.74
60.85
0.23
1.50
81.74
0.66
2.70
4.60
3.91
0.48
0.87
432.59
7.75
-0.02
0.96
37.28

0.47
3.46
20.57
1.07
1.23
81.86
1.30
9.62
19.08
16.40
1.03
3.73
3.17
7.65
-0.19
2.06
12.62

0.52
2.61
13.39
1.30
1.52
85.70
0.76
6.42
12.84
11.00
0.71
4.79
2.78
5.11
0.60
1.42
15.40

0.55
1.61
16.48
1.18
1.68
80.97
0.70
12.80
22.09
19.87
1.10
3.89
6.64
10.28
0.03
3.31
17.90

Items

2,312,626
1,365,223
110,601
0

823,390
213,721
283,294
50,100
10
276,265
1,371,616
301,618
1,069,998
578,822

578,822
238,175
338,898
338,898
0
(100,723)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,278,734
149,932
1,128,802
1,166,221

112,513
149,956

149,956

58,688

(92,933)
12,750
0
0

130,484

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.51

6.63
1.35
0.61
-0.07
-0.09
17.64

-7.27
0.00
-3.12
7.03

55

Financial Statement Analysis of Non Financial Sector 2013

Gadoon Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

3,063,735

2,835,300
6,919
5,676,961
2,753,743
303,668
0
0
74,638
3,208,422
118,908
1,951,187
671,114
0
467,213
2,956,070
1,818,665
1,137,405
1,113,633
897,974
0
0
76,541
139,117
1,974,019
234,375
234,375
0
1,739,644
103,125
1,636,519
0

2,804,358
29,127
5,887,425
2,695,557
281,719
0
0
79,674
3,741,677
125,510
2,159,942
998,552
0
457,673
2,827,804
1,560,890
1,266,914
916,021
630,161
0
0
100,246
185,613
2,802,210
234,375
234,375
0
2,567,835
103,125
2,464,710
0

4,194,133
1,612,739
6,006,756
2,569,241
275,534
0
0
12,152
6,803,765
831,124
2,104,434
3,147,275
28,937
691,995
5,828,677
4,396,772
1,431,905
374,819
62,347
0
0
125,715
186,756
4,794,402
234,375
234,375
0
4,560,027
103,125
4,456,902
0

4,898,236
204,469
8,349,267
4,678,100
290,787
0
0
15,667
5,380,582
255,211
3,297,286
902,934
25,429
899,722
4,673,192
3,534,331
1,138,861
396,786
44,533
0
0
146,895
205,358
5,208,840
234,375
234,375
0
4,974,465
103,125
4,871,340
0

6,761,197
145,845
9,538,214
5,356,683
521,590
0
1,230,711
27,958
7,002,605
480,240
4,149,820
1,172,120
37,612
1,162,813
7,049,549
5,850,552
1,198,997
546,369
26,719
0
0
189,093
330,557
6,167,884
234,375
234,375
0
5,933,509
103,125
5,830,384
0

7,140,792
2,968,577
4,172,215
6,383,917
4,462,965
1,920,953
756,875
438,494
181,112
257,382
489,003
620,007
463,911
(297,072)
47,290
0
0
997,762

10,028,765
5,188,691
4,840,075
8,444,067
5,801,995
2,642,072
1,584,698
426,429
280,164
146,265
704,999
290,551
280,440
874,687
0
164,063
0
775,959

15,638,487
7,200,758
8,437,729
12,828,453
10,587,028
2,241,425
2,810,034
596,266
293,014
303,253
943,571
147,806
338,304
2,169,597
0
234,375
0
259,765

13,570,317
7,201,922
6,368,395
12,418,585
9,590,951
2,827,634
1,151,732
468,428
247,125
221,303
819,724
295,604
257,465
654,466
0
175,781
0
1,494,422

18,673,753
9,854,296
8,819,457
16,406,487
12,451,357
3,955,130
2,267,266
646,352
328,392
317,960
1,225,946
434,061
403,542
1,260,024
0
292,969
0
447,382

2,624,538
0
(191,200)
3,679,226

3,087,652
897,974
(344,362)
2,716,639

3,718,231
630,161
710,625
2,191,051

5,169,221
62,347
1,935,222
4,459,119

5,605,626
44,533
478,685
3,578,864

6,714,253
26,719
967,055
5,877,271

0.26
4.83
14.93
0.91
0.91
89.13
2.26
-1.98
-5.47
-5.09
-2.26
2.71

0.27
8.68
9.40
1.18
1.09
89.40
2.06
-4.37
-13.85
-10.40

0.40
2.90
9.96
1.53
1.32
84.20
1.34
13.90
36.63
25.70
5.33
4.64
4.12
8.72
0.21
37.32
119.56

0.25
2.18
6.65
1.32
1.15
91.51
0.97
6.15
13.09
12.15
3.72
4.12
3.54
4.82
0.29
27.92
222.24

0.24
2.32
6.28
1.36
0.99
87.86
1.23
10.48
22.15
20.46
4.30
4.50
4.12
6.75
0.06
53.76
263.16

Items

5,713,224
3,063,735
307,195
0

4,479,271
171,612
2,527,576
1,024,204
83,335
672,544
4,918,468
3,679,226
1,239,242
310,253

310,253
2,314,285
234,375
234,375
0
2,079,910

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

6,857,873
1,717,051
5,140,822
6,112,310

745,563
550,144

550,144

331,413

(132,606)
0
58,594
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-1.93
0.00
-5.66
98.74

56

3.66
0.36
-4.16
0.25
-14.69
84.22

0.69
0.95
20.13
1.42
1.17
82.03
1.29
24.73
57.12
48.82
9.26
7.43
7.41
13.87
0.04
92.57
204.56

Financial Statement Analysis of Non Financial Sector 2013

Ghazi Fabrics International Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,650,435

1,535,884
0
2,903,804
1,530,187
149,039
0
0
5,697
1,007,654
7,621
733,463
175,771
0
90,798
1,177,032
995,610
181,422
1,402,504
363,546
936,999
0
24,434
77,525
(35,998)
326,356
326,356
0
(590,573)
0
(590,573)
228,219

1,412,429
158
2,918,237
1,406,574
138,258
0
0
5,697
1,069,371
19,371
732,389
189,741
0
127,870
1,297,775
1,035,029
262,747
1,114,395
247,394
754,289
0
28,856
83,857
69,630
326,356
326,356
0
(460,503)
0
(460,503)
203,777

1,366,587
1,263
1,931,786
1,352,372
121,917
0
0
12,952
1,402,409
5,273
985,308
243,461
0
168,366
1,399,202
994,437
404,765
1,100,826
124,575
869,933
0
33,178
73,140
268,968
326,356
326,356
0
(233,145)
0
(233,145)
175,757

1,326,179
0
2,940,326
1,313,227
125,601
0
0
12,952
1,232,035
15,060
771,887
253,366
0
191,722
1,282,175
906,758
375,417
1,181,684
182,280
877,965
0
33,886
87,553
94,355
326,356
326,356
0
(372,902)
0
(372,902)
140,901

1,379,014
17,726
3,025,608
1,348,336
122,943
0
0
12,952
1,567,335
1,617
1,037,516
332,916
0
195,286
1,458,025
1,112,125
345,900
1,342,989
222,922
1,032,743
0
37,634
49,690
145,335
326,356
326,356
0
(296,540)
0
(296,540)
115,519

3,093,333
1,928,450
1,164,884
2,888,225
2,211,374
676,851
205,109
175,715
100,521
75,194
226,565
161,632
153,372
(130,636)
15,373
0
0
(174,359)

3,827,202
2,770,972
1,056,229
3,378,485
2,566,838
811,646
448,717
152,688
74,108
78,580
256,283
166,452
157,824
133,165
38,295
32,636
0
268,830

5,767,986
2,955,757
2,812,229
5,040,340
4,151,082
889,258
727,647
264,464
163,543
100,921
308,699
161,934
150,762
309,564
66,130
32,636
0
188,041

4,847,590
2,194,279
2,653,311
4,555,985
3,474,733
1,081,252
291,605
292,954
164,976
127,978
297,448
125,690
113,095
(113,017)
48,461
0
0
129,591

5,381,510
1,838,422
3,543,088
4,862,690
3,567,884
1,294,806
518,820
335,076
211,943
123,133
376,639
138,961
122,454
56,915
43,797
0
0
(222,383)

431,470
0
(176,336)
757,792

1,366,506
363,546
(146,008)
1,359,157

1,184,025
247,394
62,235
1,282,423

1,369,794
124,575
210,799
1,119,012

1,276,039
182,280
(161,478)
1,089,038

1,488,324
222,922
13,118
1,335,047

0.06
3.64
4.09
1.20
0.39
97.75
19.72
-6.81
-76.98
-27.29

0.16
5.23
5.68
1.22
0.86
93.37
-71.66
-5.24
-318.74
-14.53

0.16
4.35
4.96
1.54
0.82
88.28
34.64
5.30
791.90
10.44
2.91
5.23
1.84
3.48
0.11
2.91
2.13

0.18
2.81
4.22
2.08
1.00
87.38
9.29
11.79
182.85
24.24
7.46
5.85
3.05
5.37
0.08
7.46
8.24

0.21
2.59
5.23
1.89
0.96
93.98
26.11
-4.24
-62.21
-8.54

0.23
2.58
6.19
1.83
1.07
90.36
19.27
2.07
47.49
4.12

Items

2,815,335
1,650,435
156,743
0

793,335
290
582,302
119,667
0
91,076
2,012,300
757,792
1,254,508
313,501

313,501
117,969
326,356
326,356
0
(208,387)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,923,578
1,778,771
1,144,807
2,857,817

65,761
126,182

126,182

106,535

(161,724)
14,612
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.02

4.22
0.15
-4.22
-0.07
-4.47
-1.10

-5.53
0.00
-5.40
3.61

57

6.28
0.00
-2.33
0.05
-4.95
2.89

5.19
1.46
1.06
-0.08
0.40
4.45

Financial Statement Analysis of Non Financial Sector 2013

Glamour Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

568,032

543,555
4,527
1,395,676
536,294
37,585
0
0
2,735
247,770
1,681
111,415
100,369
0
34,305
300,946
265,797
35,149
303,796
0
299,802
0
3,994
0
186,583
116,400
116,400
0
(203,808)
0
(203,808)
273,991

574,639
0
1,181,631
571,126
35,708
0
0
3,513
264,917
8,121
128,274
88,597
0
39,925
189,905
147,807
42,097
305,228
0
299,802
0
5,426
0
344,423
116,400
116,400
0
(93,426)
0
(93,426)
321,450

633,133
15,421
1,482,292
614,977
43,560
0
0
2,735
430,195
11,296
271,088
97,979
0
49,832
420,493
332,491
88,002
287,142
0
279,802
0
7,340
0
355,693
116,400
116,400
0
(67,224)
0
(67,224)
306,517

596,459
310
1,503,734
590,732
45,689
0
0
5,417
352,302
9,196
159,454
131,153
0
52,499
275,201
146,436
128,765
139,309
0
129,802
0
9,507
0
534,251
266,400
266,400
0
(25,275)
0
(25,275)
293,126

809,977
740
1,850,217
803,523
46,218
0
0
5,714
437,742
8,651
187,058
22,874
0
219,159
336,204
223,402
112,802
215,536
0
129,802
0
9,704
76,030
695,979
266,400
266,400
0
123,409
0
123,409
306,170

868,203
812,314
55,889
815,897
599,358
216,540
52,306
17,816
9,395
8,421
60,240
58,073
56,479
(23,014)
419
0
0
82,793

1,358,437
1,099,599
258,838
1,145,840
869,847
275,993
212,597
55,396
23,260
32,136
87,134
49,360
46,575
108,139
8,264
0
0
134,933

2,072,441
1,483,822
588,619
1,915,948
1,704,903
211,045
156,493
50,266
36,127
14,139
86,515
74,185
66,329
32,845
21,575
0
0
(79,593)

2,050,235
1,508,939
541,296
1,890,612
1,456,430
434,182
159,623
55,311
39,914
15,397
93,533
56,326
49,007
49,067
20,507
26,640
0
136,280

2,322,848
1,167,742
1,155,106
2,030,073
1,596,494
433,579
292,775
88,845
55,456
33,389
131,869
58,646
37,580
146,270
10,846
0
0
118,919

492,754
0
(23,268)
359,226

490,379
0
(23,433)
265,797

649,652
0
99,875
147,807

642,835
0
11,270
332,491

673,560
0
1,920
146,436

911,515
0
135,424
223,402

0.26
5.87
13.71
0.83
0.81
94.33
3.21
-2.40
-10.16
-5.57

0.34
6.69
11.56
1.10
0.82
93.98
3.24
-2.75
-11.61
-4.68

0.51
3.63
6.52
1.62
1.40
84.35
1.44
13.26
40.73
18.97

0.26
3.58
4.73
1.95
1.02
92.45
1.99
3.45
9.38
5.08

0.51
2.75
6.40
2.16
1.28
92.21
0.78
4.88
11.03
7.45
1.07
12.86
2.00
2.39
0.33
1.07
20.05

0.09
2.52
0.98
1.86
1.30
87.40
0.79
13.32
23.78
18.46

Items

176,389
568,032
39,451
0

316,076
2,118
175,988
100,254
0
37,716
391,354
359,226
32,128
282,758

282,758
209,996
116,400
116,400
0
93,596

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

731,132
663,490
67,642
689,658

41,474
19,474

19,474

42,940

(19,602)
3,666
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.15

7.79
0.59
-2.65
0.14
-2.01
16.03

10.59
3.32
7.96
0.27
8.58
29.59

7.64
1.50
1.58
-0.11
0.97
30.56

-2.68
0.00
-2.00
18.04

58

12.42
4.89
6.30
0.22
5.08
26.13

Financial Statement Analysis of Non Financial Sector 2013

Globe Textile Mills (OE) Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

238,483

181,178
0
377,366
174,515
18,626
0
0
6,663
133,343
194
15,267
36,740
0
81,142
119,516
70,557
48,959
184,189
105,002
79,187
0
0
0
10,816
46,621
46,621
0
(40,805)
0
(40,805)
5,000

173,124
4,455
378,676
160,094
17,219
0
0
8,575
84,567
123
16,274
23,773
0
44,397
67,998
18,406
49,592
168,660
91,942
76,718
0
0
0
21,033
46,621
46,621
0
(30,588)
0
(30,588)
5,000

157,715
0
367,145
149,140
15,948
0
0
8,575
92,353
916
12,610
60,495
0
18,332
103,000
32,461
70,539
123,592
48,082
75,510
0
0
0
23,476
46,621
46,621
0
(28,145)
0
(28,145)
5,000

158,371
0
382,170
149,590
14,609
0
0
8,781
114,283
2,821
28,516
49,646
0
33,300
109,814
27,326
82,488
137,962
56,654
72,865
0
0
8,443
24,878
46,621
46,621
0
(38,305)
0
(38,305)
16,562

174,662
0
405,055
165,881
16,570
0
0
8,781
109,016
3,876
30,961
36,958
0
37,221
130,047
27,890
102,157
128,457
51,606
67,563
0
0
9,288
25,174
46,621
46,621
0
(38,009)
0
(38,009)
16,562

206,893
206,893
0
183,194
104,008
79,186
23,699
11,441
1,416
10,025
25,998
11,674
11,376
752
0
0
0
29,649

390,301
390,301
0
346,080
239,832
106,248
44,221
19,955
1,960
17,996
43,706
13,005
12,102
12,177
1,959
4,662
0
60,374

577,223
577,223
0
530,942
405,179
125,763
46,281
23,907
3,247
20,660
56,052
14,979
14,164
8,324
6,324
0
0
46,876

611,225
611,225
0
566,119
429,476
136,643
45,106
25,783
3,419
22,364
56,208
21,174
19,915
1,587
6,112
0
0
4,594

776,402
776,402
0
731,237
564,556
166,681
45,165
31,822
5,892
25,930
76,428
10,747
8,583
4,986
3,882
0
0
42,569

174,960
0
(24,964)
320,491

195,005
105,002
752
175,559

189,693
91,942
5,555
110,347

147,068
48,082
2,000
80,543

162,840
56,654
(4,525)
83,980

153,631
51,606
1,104
79,496

0.07
11.83
11.80
0.40
0.83
99.37
6.78
-4.37
-33.97
-13.64

0.31
5.64
17.76
0.66
1.12
88.55
28.08
0.17
1.85
0.41

0.35
3.33
6.09
1.51
1.24
88.67
11.25
4.26
76.46
6.33
2.19
23.98
2.01
3.12
0.26
2.19
4.51

0.60
2.60
10.48
2.31
0.90
91.98
9.65
3.28
37.40
4.94

0.48
3.46
8.12
2.24
1.04
92.62
9.96
0.61
6.56
1.02

0.31
1.38
4.76
2.74
0.84
94.18
10.27
1.79
19.92
3.15

Items

389,271
238,483
16,370
0

308,123
1,279
186,479
25,472
0
94,893
371,646
320,491
51,155
104,713

104,713
70,247
46,621
46,621
0
23,626

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

215,938
215,938
0
214,582

1,356
12,356

12,356

25,542

(23,864)
1,100
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.16

13.55
1.07
0.36
0.10
0.16
2.32

-11.05
0.00
-5.35
15.07

59

45.77
1.59
1.44
0.21
0.43
5.04

21.43
1.08
0.26
0.02
-0.97
5.34

25.08
1.58
0.64
0.16
0.24
5.40

Financial Statement Analysis of Non Financial Sector 2013

Globe Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

603,483

299,922
0
678,886
229,636
25,742
0
0
70,286
193,436
6,326
0
83,175
0
103,935
487
0
487
0
0
0
0
0
0
492,871
163,664
163,664
0
329,207
0
329,207
0

274,362
0
679,645
207,401
23,349
0
0
66,961
188,133
2,565
0
82,270
0
103,298
215
0
215
0
0
0
0
0
0
462,280
163,664
163,664
0
298,616
0
298,616
0

231,927
0
679,353
165,856
41,464
0
0
66,071
186,147
574
0
82,270
0
103,303
365
0
365
0
0
0
0
0
0
417,709
163,664
163,664
0
254,045
0
254,045
0

196,852
0
679,353
132,684
33,171
0
0
64,168
185,613
13
0
82,270
0
103,330
360
0
360
0
0
0
0
0
0
382,105
163,664
163,664
0
218,441
0
218,441
0

164,709
0
679,353
106,147
26,537
0
0
58,562
20,921
28
0

0
0
0
22,985
0
22,985
(22,985)
7,894
0
7,894
1,174
11
0
(30,591)
0
0
0
(2,648)

0
0
0
41,226
0
41,226
(41,226)
5,479
0
5,479
1,743
3
0
(44,570)
0
0
0
(2,470)

0
0
0
32,937
0
32,937
(32,937)
4,608
0
4,608
1,325
4
0
(35,604)
0
0
0
(2,232)

0
0
0
26,375
0
26,375
(26,375)
171,661
0
171,661

0
0
0
42,376
0
42,376
(42,376)
50,885
10,108
40,777
18,998
0
0
533,633
0
0
0
43,778

419,721
0
(24,148)
21,276

492,871
0
533,633
0

462,280
0
(30,591)
0

417,709
0
(44,570)
0

382,105
0
(35,604)
0

185,346
0
(196,759)
0

0.17

183.78

394.58

226.97

228.56

0.10

0.00
0.43

0.00
397.20

0.00
875.04

0.00
509.99

0.00
515.59

0.00
73.67

Items

1,159,160
603,483
32,979
0

136,614
14
0
53,209
0
83,391
320,376
21,276
299,100
460,483

460,483
(40,762)
163,674
163,674
0
(204,436)

20,893
284
0
284
0
0
0
0
0
0
185,346
163,664
163,664
0
21,682
0
21,682
0

F.Operation:
0
0
0
43,216

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

(43,216)
10,179

10,179

14,235

(24,148)
0
0
0

0
(196,759)

0
0
(5,591)

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

60

-19.16
-3.02
84.17
-5.15

0.00
86.53
236.06
116.95

0.00
-6.40
-6.41
-6.41

0.00
-10.12
-10.13
-10.13

0.00
-8.90
-8.90
-8.90

0.00
-69.27
-69.35
-69.35

0.00
-1.48
-2.49

89.89
32.61
30.11

-12.32
-1.87
28.25

-6.77
-2.72
25.52

-6.20
-2.18
23.35

-19.69
-12.02
11.32

Financial Statement Analysis of Non Financial Sector 2013

Gulistan Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

571,553

594,740
21,172
1,020,648
536,416
25,988
0
27,161
9,991
1,084,055
58,776
662,969
225,457
0
136,854
1,120,395
974,540
145,855
204,818
80,182
103,000
0
12,227
9,410
353,582
133,100
133,100
0
136,251
24,895
111,356
84,231

594,192
22,028
1,033,615
523,867
25,516
0
40,854
7,442
1,183,931
102,976
644,142
279,290
0
157,523
1,181,844
945,548
236,296
176,435
36,618
103,000
0
14,837
21,980
419,844
146,410
146,410
0
189,203
25,000
164,203
84,231

603,852
12,130
1,062,384
527,475
25,162
0
58,914
5,333
1,397,975
48,516
1,087,454
154,580
0
107,426
1,368,312
1,050,901
317,411
166,428
16,107
103,000
0
17,010
30,312
467,087
146,410
146,410
0
232,424
25,000
207,424
88,253

(1,296,283)
25,000
(1,321,283)
1,039,009

(1,359,734)
25,000
(1,384,734)
857,979

1,371,414
716,862
654,551
1,136,128
935,662
200,466
235,285
65,845
38,663
27,182
82,206
158,385
154,843
20,710
8,015
0
13,310
(176,935)

1,851,263
967,688
883,575
1,537,307
1,196,439
340,869
313,956
78,369
44,954
33,415
99,135
150,047
145,918
92,743
13,636
14,641
0
131,886

2,662,982
1,187,269
1,475,713
2,338,963
2,104,485
234,478
324,019
89,411
55,498
33,912
98,715
174,467
169,121
85,841
25,114
14,641
0
(115,597)

1,602,248
907,353
694,895
2,839,549
2,053,879
785,670
(1,237,301)
133,884
46,417
87,467
106,708
122,764
122,347
(1,542,028)
6,922
0
0
(412,153)

603,482
455,106
148,376
657,478
294,498
362,980
(53,996)
53,943
9,301
44,642
121,446
10,623
10,623
(118,380)
1,570
0
0
(447)

383,997
0
(299,869)
493,202

558,400
80,182
12,695
1,054,721

596,279
36,618
64,465
982,166

633,515
16,107
46,086
1,067,008

233,052
0
(1,548,950)
1,440,756

115,148
0
(119,950)
1,436,215

0.25
37.87
13.52
0.79
0.80
85.49
3.16
-21.48
-89.29
-75.24

0.25
11.55
16.44
0.82
0.97
82.84
3.75
1.37
6.12
4.40

0.32
8.11
15.09
1.04
1.00
83.04
3.24
5.37
23.98
16.06
5.40
2.87
1.64
5.01
0.10
5.40
28.68

0.15
6.55
5.80
1.33
1.02
87.83
3.29
2.63
11.04
7.82
4.15
2.45
1.51
3.22
-0.08
4.15
31.90

0.04
7.66
4.32
0.75
0.25
177.22
-20.23
-74.61
-865.77
-355.89

0.04
1.76
10.96
0.31
0.19
108.95
-6.49
-5.80
50.78
-68.00

Items

999,685
571,553
44,435
0

773,691
69,657
419,399
144,276
23,290
117,069
961,247
493,202
468,045
60,424

60,424
323,573
110,000
110,000
0
213,573

1,651,810
0
1,657,187
1,637,134
23,422
0
12,667
2,009
479,661
12,495
339,813
69,173

1,595,232
0
1,661,309
1,584,121
57,622
0
9,838
1,273
355,047
6,594
238,102
66,125

58,180
1,898,419
1,440,756
457,663
343,916

44,226
1,835,131
1,436,215
398,916
470,493

103,000

103,000

240,916
(110,864)
146,410
146,410

367,493
(355,345)
146,410
146,410

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,067,204
332,246
734,958
912,384

154,820
46,693

46,693

404,165

(288,930)
10,939
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.54

2.07
1.13
1.51
-0.13
0.95
26.57

-27.07
0.00
-27.26
29.42

61

4.72
-11.60
-96.24
-0.18
-105.80
-7.57

2.53
-10.14
-19.62
0.00
-8.19
-24.27

Financial Statement Analysis of Non Financial Sector 2013

Gulistan Textile Mills Ltd.


2008

2009

2010

2011

2,080,377

3,596,318
79,518
3,658,255
2,071,643
95,536
0
1,411,433
33,724
5,680,768
56,809
4,098,002
1,202,179
0
323,779
5,897,064
5,168,809
728,255
867,389
708,593
0
0
50,983
107,813
2,512,633
172,581
172,581
0
1,828,499
379,080
1,449,419
511,553

3,862,593
50,116
3,952,691
2,270,113
97,243
0
1,499,843
42,521
5,659,765
62,625
3,765,348
1,417,133
0
414,659
5,428,899
4,704,055
724,844
1,358,004
1,150,298
0
0
57,636
150,069
2,735,455
189,839
189,839
0
2,034,063
379,080
1,654,983
511,553

4,107,805
21,689
3,952,691
2,398,751
105,680
0
1,649,681
37,685
7,180,124
115,718
5,393,375
1,174,835
0
496,196
6,638,646
5,374,369
1,264,277
1,650,068
1,008,537
423,800
0
67,210
150,520
2,999,215
189,839
189,839
0
2,275,091
379,080
1,896,011
534,285

5,245,328
3,669,867
1,575,461
4,197,949
3,518,791
679,157
1,047,379
233,361
86,215
147,146
275,696
832,459
772,542
27,837
15,543
0
17,258
(1,197,715)

7,280,609
4,800,943
2,479,666
6,000,694
4,914,106
1,086,589
1,279,914
201,755
95,394
106,361
350,613
876,279
824,761
311,729
49,563
18,984
0
302,116

3,161,606
0
98,137
3,380,024

3,380,022
708,593
12,294
5,877,402
0.21
15.87
22.92
0.57
0.96
80.03
2.69
0.33
1.10
0.85

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

3,504,987
2,080,377
89,610
0

5,741,601
28,828
2,872,063
992,689
1,488,884
359,137
4,660,372
3,380,024
1,280,348
629,293

629,293
2,532,313
160,540
160,540
0
2,371,773

(Thousand Rupees)
2012
2013
6,668,624
9,648
6,150,342
6,066,071
110,526
0
584,554
8,351
2,313,505
53,213
1,196,782
521,421

6,091,266
0
6,152,869
5,925,854
148,189
0
156,977
8,435
1,757,691
38,879
1,118,659
297,739

542,089
8,540,755
6,103,477
2,437,278
1,275,266

302,414
8,707,445
6,209,900
2,497,545
1,585,451

423,800

423,800

66,995
784,471
(833,892)
189,839
189,839

60,356
1,101,295
(2,443,939)
189,839
189,839

(7,021,238)
379,080
(7,400,318)
5,997,507

(7,683,124)
379,080
(8,062,204)
5,049,346

9,678,222
5,818,710
3,859,512
8,232,647
7,340,826
891,821
1,445,575
348,532
237,439
111,094
411,268
929,840
893,570
332,244
81,345
18,984
0
(626,864)

5,689,049
3,831,777
1,857,272
10,163,855
7,024,544
3,139,311
(4,474,806)
1,963,909
152,821
1,811,088
466,474
660,447
628,974
(9,411,034)
21,192

(708,475)

2,678,374
2,652,934
25,440
3,427,020
1,891,080
1,535,940
(748,646)
137,776
25,173
112,603
493,784
43,084
37,882
(1,105,849)
238,152
0
0
(190,963)

4,093,459
1,150,298
243,182
5,854,353

4,649,283
1,008,537
231,915
6,382,906

441,374
0
(9,432,226)
6,103,477

(858,488)
0
(1,344,001)
6,209,900

0.27
12.04
19.46
0.76
1.04
82.42
2.48
3.32
11.88
8.34
13.81
1.93
1.38
4.28
0.04
13.81
144.09

0.19
9.61
12.14
0.86
1.08
85.06
2.76
3.19
11.59
7.60
13.22
1.79
1.37
3.43
-0.08
13.22
157.99

0.07
11.61
9.17
0.63
0.27
178.66
-11.77
-92.86
-869.25
-369.74

0.04
1.61
11.12
0.34
0.20
127.95
-4.21
-13.14
67.47
530.24

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

5,249,821
3,517,474
1,732,347
4,513,108

736,713
154,278

154,278

535,671

124,379
26,242
0
112,823

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


0.54
10.20
18.91
0.67
1.23
85.97
2.09
1.72
4.96
3.89

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.83

1.28
1.04
0.53
-0.18
0.71
145.59

2.37
0.00
6.11
157.74

62

4.75
-13.96
-165.42
-0.07
-496.85
-43.93

2.39
-28.19
-41.29
-0.02
-70.80
-128.74

Financial Statement Analysis of Non Financial Sector 2013

Gulshan Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,443,232

1,611,351
1,790
2,703,649
1,416,972
70,139
0
178,715
13,875
2,678,802
161,034
1,825,395
467,208
488
224,678
2,801,111
2,485,633
315,478
502,727
192,019
250,000
0
24,924
35,784
986,315
168,372
168,372
0
574,207
66,000
508,207
243,736

1,624,271
990
2,738,040
1,384,946
67,908
0
225,069
13,266
2,905,887
41,705
1,958,569
653,569
0
252,044
2,968,813
2,625,735
343,079
473,232
134,820
250,000
0
26,116
62,296
1,088,113
185,209
185,209
0
659,169
66,000
593,169
243,736

1,613,173
990
2,759,981
1,339,944
66,636
0
261,743
10,496
3,235,721
67,150
2,327,840
594,739
0
245,992
3,129,396
2,805,431
323,965
458,843
1,601
344,089
0
29,475
83,678
1,260,655
222,250
222,250
0
787,233
66,000
721,233
251,172

4,006,434
0
4,141,536
3,895,756
63,629
0
102,028
8,650
1,533,060
22,552
838,903
527,477
0
144,128
3,677,172
2,948,348
728,824
708,597
0
75,000
0
30,638
602,959
1,153,725
222,250
222,250
0
(1,563,161)
316,000
(1,879,161)
2,494,636

(1,765,756)
316,000
(2,081,756)
2,439,344

2,613,487
1,058,629
1,554,858
2,073,365
1,634,660
438,706
540,122
125,825
84,292
41,533
174,149
383,370
363,957
38,478
15,570
0
16,837
485,881

3,757,221
1,748,861
2,008,360
2,986,686
2,363,779
622,907
770,535
160,443
97,834
62,610
184,374
459,220
439,930
161,524
31,547
18,521
37,042
(127,509)

5,100,806
1,913,450
3,187,355
4,195,995
3,663,201
532,794
904,810
198,677
130,385
68,292
219,357
470,142
451,780
250,979
51,335
33,338
0
(65,188)

3,191,016
1,842,154
1,348,862
4,636,823
2,983,256
1,653,567
(1,445,807)
422,814
111,963
310,851
208,125
434,203
412,963
(2,560,206)
13,560
0
0
(170,976)

1,319,221
1,114,897
204,324
1,411,764
775,835
635,929
(92,543)
101,352
29,749
71,603
211,094
40,996
35,418
(230,336)
2,044
0
0
(67,070)

1,557,835
0
47,298
1,250,779

1,489,042
192,019
22,908
2,677,653

1,561,345
134,820
111,456
2,760,555

1,719,499
1,601
166,306
2,807,032

1,862,322
0
(2,573,766)
2,948,348

1,612,749
0
(232,380)
3,019,405

0.22
14.67
17.88
0.61
0.96
79.33
3.35
0.98
3.94
2.53

0.23
12.22
17.40
0.83
0.98
79.49
3.16
3.66
15.57
10.59
7.02
1.92
1.37
4.30
-0.04
7.02
58.75

0.21
9.22
11.66
1.05
1.03
82.26
2.85
5.35
21.37
15.30
5.99
2.19
1.56
4.92
-0.02
8.98
56.72

0.15
13.61
16.53
0.58
0.42
145.31
3.80
-49.29
-212.08
-142.96

0.11
3.11
28.14
0.25
0.36
107.01
4.80
-4.29
-22.48
-13.26

Items

2,654,081
1,443,079
68,656
153

2,157,997
129,190
1,302,405
397,970
107,493
220,939
2,043,394
1,250,779
792,615
592,691

592,691
965,144
153,065
153,065
0
812,079

3,903,943
0
4,147,325
3,803,786
99,599
0
91,490
8,667
1,296,003
17,491
804,480
371,254

102,778
3,587,197
3,019,405
567,792
716,911
0
75,000
0
26,195
615,716
895,838
222,250
222,250

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,210,913
670,842
1,540,071
1,805,055

405,858
95,950

95,950

253,701

62,389
15,091
0
13,915

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


0.31
11.47
18.00
0.61
1.06
81.64
2.73
1.78
6.63
4.24

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.70

1.43
1.11
1.47
0.15
1.36
58.58

2.82
0.00
3.09
63.05

63

3.80
-5.20
-80.23
-0.04
-115.80
51.91

1.64
-5.50
-17.46
-0.02
-10.46
40.31

Financial Statement Analysis of Non Financial Sector 2013

Hafiz Ltd. (Formally Hafiz Textile Mills Ltd.)


Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

2009

2010

2011

91,849

90,151
0
171,705
90,151
1,714
0
0
0
983
394
0
0
0
589
5,680
0
5,680
86,740
0
86,277
0
463
0
(1,286)
12,000
12,000
0
(108,071)
0
(108,071)
94,785

88,997
0
172,358
88,997
1,806
0
0
0
3,376
2,598
0
0
0
779
7,249
0
7,249
83,204
0
82,722
0
482
0
1,920
12,000
12,000
0
(103,726)
0
(103,726)
93,646

87,247
0
172,358
87,247
1,750
0
0
0
4,087
3,237
0
0
0
850
7,463
0
7,463
78,501
0
78,272
0
228
1
5,370
12,000
12,000
0
(88,468)
0
(88,468)
81,838

86,423
0
173,131
86,423
1,764
0
0

0
0
0
0
0
0
0
4,411
0
4,411
621
20
0
7,189
665
900
0
(56,950)

0
0
0
0
0
0
0
4,121
0
4,121
630
15
0
3,962
775
0
0
6,489

0
0
0
0
0
0
0
4,933
0
4,933
592
22
0
4,493
1,046
0
0
5,094

0
0
0
0
0
0
0
5,454
0
5,454
480
18
0
8,015
1,286
1,800
0
6,921

0
0
0
0
0
0
0
6,133
0
6,133
463
6
0
6,071
1,206
2,400
0
7,316

(7,810)
0
907
0

85,454
0
5,624
0

85,124
0
3,188
0

83,871
0
3,447
0

85,458
0
4,929
0

379,087
0
2,465
0

0.01

0.07

0.36

0.43

0.64

1.09

0.00
0.02

0.00
0.17

0.00
0.47

0.00
0.55

0.00
0.86

0.00
1.26

171,690
91,849
92,321
0

2,366
725
0
0
1
1,640
102,025
0
102,025
0

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

0
(7,810)
12,000
12,000
0
(19,810)

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

5,888
4,385
0
0
0
1,503
6,853
0
6,853
73,262
0
73,022
0
240
0
12,196
12,000
12,000
0
(80,533)
0
(80,533)
80,729

376,941
0
62,974
3,478
1,749
0
373,462
1
10,422
8,983
0
0
0
1,439
8,276

8,276
71,692
0
71,456
0
236
0
307,395
12,000
12,000
0
295,395
0
295,395
0

F.Operation:
0
0
0
0

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

0
3,374

3,374

10

1,128
221
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-13.06
1.19
-1.95
20.92

-71.87
7.76
-158.08
18.52
7.25

47.11
4.32
1,249.77
4.65

16.01
4.89
123.26
5.32

0.26
2.53
3.80
2.61
2.03

6.57
8.73
91.26
9.47
3.74

-0.62
5.44
-1.07

0.07
2.66
1.60

0.06
2.87
4.48

0.09
5.61
10.16

0.09
4.05
256.16

0.00
0.76
-6.51

64

Financial Statement Analysis of Non Financial Sector 2013

Haji Mohammad Ismail Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

218,741

211,308
0
250,330
210,697
8,044
0
0
611
43,591
665
1,529
26,852
0
14,545
59,378
40,921
18,457
70,070
32,963
14,516
0
215
22,376
125,451
119,750
119,750
0
(54,316)
0
(54,316)
60,017

205,224
0
253,526
204,614
6,127
0
0
610
46,343
3,588
787
28,713
0
13,256
62,825
40,925
21,900
60,229
32,963
13,216
0
199
13,851
128,513
119,750
119,750
0
(49,138)
0
(49,138)
57,901

204,756
0
370,819
204,146
2,277
0
0
610
46,505
6,570
787
19,181
59
19,908
73,199
50,948
22,251
50,318
22,891
13,196
0
278
13,953
127,744
119,750
119,750
0
(45,673)
0
(45,673)
53,667

213,440
0
380,797
212,829
1,294
0
0
611
58,096
3,854
786
35,623
70
17,763
103,769
48,338
55,431
45,623
0
31,381
0
289
13,953
122,144
119,750
119,750
0
(50,906)
0
(50,906)
53,300

611
0
380,686
0

45,779
45,779
0
46,439
14,761
31,678
(660)
2,651
58
2,593
2,539
9,962
9,750
(13,266)
0
0
0
7,830

27,900
27,900
0
27,467
743
26,724
433
1,759
0
1,759
2,622
4,206
3,757
(5,322)
139
0
0
4,262

27,911
27,911
0
27,106
0
27,106
805
2,168
0
2,168
353
4,417
4,192
(388)
279
0
0
4,860

22,655
22,655
0
28,037
0
28,037
(5,382)
2,078
0
2,078
3,157
780
764
(5,601)
0
0
0
14,576

1,587
1,587
0
2,673
0
2,673
(1,086)
40,953
0
40,953
1,352
954
873
(38,809)
0
0
0
(1,065)

163,517
0
(23,263)
46,320

195,520
32,963
(13,266)
73,884

188,742
32,963
(5,461)
73,888

178,062
22,891
(667)
73,839

167,767
0
(5,601)
48,338

43,987
0
(38,809)
4,154

0.17
13.12
30.07
0.24
0.56
112.73
1.04
-7.16
-14.50
-13.44

0.46
21.76
58.66
0.18
0.73
101.44
1.03
-4.88
-9.92
-7.39

0.51
15.07
102.91
0.11
0.74
98.45
0.96
-2.10
-4.19
-2.77

0.35
15.83
68.72
0.11
0.64
97.12
0.97
-0.15
-0.30
-0.21

0.38
3.44
157.24
0.08
0.56
123.76
1.22
-2.14
-4.48
-3.24

4.67
60.11
327.54
0.03
5.82
168.43
0.20
-23.92
-46.72
-36.65

Items

367,491
218,741
5,762
0

70,142
135
27,873
21,204
0
20,930
125,366
46,320
79,046
21,621

21,621
141,896
119,750
119,750
0
22,146

0
0
611
52,376
35,491
0
5,198
1,324
10,363
9,000
4,154
4,846
0
0
0
0
0
0
43,987
119,750
119,750
0
(75,763)
0
(75,763)
0

F.Operation:
70,504
70,504
0
79,476

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

(8,972)
4,697

4,697

9,253

(22,910)
353
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.53

29.94
-0.36
-28.98
0.06
-1.11
10.48

35.47
-0.42
-19.08
0.03
-0.46
10.73

35.47
0.91
-1.39
0.04
-0.06
10.67

28.82
-6.33
-24.72
0.10
-0.47
10.20

-32.49
0.00
-1.94
11.85

65

-43.45
-2,445.43
-0.12
-3.24
3.67

Financial Statement Analysis of Non Financial Sector 2013

Hajra Textile Mills Ltd.


2008

2009

2010

2011

537,276

525,962
0
853,895
522,409
22,613
0
2
3,551
192,453
1,134
31,236
4,964
0
155,119
299,834
131,307
168,527
566,624
168,605
321,649
0
1,999
74,370
(148,043)
137,500
137,500
0
(377,692)
10,313
(388,004)
92,149

508,353
0
858,446
504,800
22,160
0
2
3,551
196,457
1,000
22,134
6,385
0
166,938
299,851
130,055
169,795
578,021
169,742
339,448
0
1,683
67,148
(173,062)
137,500
137,500
0
(398,303)
10,313
(408,615)
87,741

486,910
0
856,147
483,358
21,202
0
2
3,551
220,965
373
31,734
40,146
0
148,712
507,770
274,364
233,406
393,858
25,433
339,748
0
1,167
27,510
(193,753)
137,500
137,500
0
(415,555)
10,313
(425,868)
84,302

776,073
776,073
0
782,176
598,177
183,999
(6,103)
37,906
6,084
31,822
83,741
35,019
32,719
(79,028)
0
0
0
(42,346)

1,007,563
1,007,563
0
992,832
762,879
229,953
14,731
14,698
3,247
11,451
86,494
27,226
25,993
(27,193)
5,047
0
0
(11,532)

132,613
0
(46,514)
86,510

418,581
168,605
(79,028)
299,912

0.02
2.26
0.95
0.98
0.26
100.35
-11.64
-6.78
101.44
-63.51

0.02
4.51
0.64
1.08
0.64
100.79
-5.85
-11.31
74.58
-28.68

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

724,413
537,276
18,474
0

142,351
4,283
86,696
6,311
3
45,058
547,014
86,510
460,504
196,487

196,487
(63,874)
137,500
137,500
0
(201,374)

(Thousand Rupees)
2012
2013
466,671
0
856,147
463,115
20,243
0
5
3,551
136,292
141

447,323
0
856,147
443,765
19,349
0
7
3,551
136,302
151

136,151
517,300
295,727
221,573
363,123
4,070
340,348

136,151
557,337
297,547
259,790
358,148
2,250
340,931

18,705
(277,460)
137,500
137,500

14,967
(331,860)
137,500
137,500

(495,968)
10,313
(506,281)
81,008

(547,211)
10,313
(557,524)
77,851

1,211,958
1,211,958
0
1,211,586
948,608
262,978
372
19,486
3,346
16,140
98,997
30,464
29,719
(48,189)
12,140
0
0
(263)

373,603
373,603
0
453,708
307,450
146,258
(80,105)
8,049
889
7,160
48,722
46,582
45,941
(88,772)
3,746
0
0
(785)

0
0
0
0
0
0
0
20,033
0
20,033
120
38,107
38,107
(58,140)
0
0
0
(573)

404,960
169,742
(32,240)
299,797

200,105
25,433
(60,329)
299,797

85,663
4,070
(92,518)
299,797

26,288
2,250
(58,140)
299,797

0.02
2.70
0.63
1.43
0.66
98.54
-5.07
-3.82
16.94
-6.60

0.08
2.51
3.31
1.71
0.44
99.97
-4.65
-6.82
26.27
-15.93

0.00
12.47
0.00
0.62
0.26
121.44
-3.17
-13.54
37.68
-62.13

0.00

-2.76
-9.80
19.08
-103.87

-0.93
-23.76
0.00
-6.73
-20.18

-0.53

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

665,164
665,164
0
667,492

(2,328)
26,485

26,485

15,003

(43,188)
3,326
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

7.67

24.85
-1.42
-10.18
-0.05
-5.75
-10.77

45.52
-0.05
-2.70
-0.01
-2.34
-12.59

38.19
-0.62
-3.98
0.00
-4.39
-14.09

-6.49
0.00
-3.38
-4.65

66

0.00
0.24

0.00
-4.23
-24.14

Financial Statement Analysis of Non Financial Sector 2013

Hala Enterprises Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

115,265

115,571
0
204,384
109,261
6,704
0
2,195
4,115
189,328
1,445
90,763
42,598
0
54,523
182,928
104,502
78,426
54,103
3,715
9,378
0
38,830
2,181
67,868
37,800
37,800
0
(29,007)
3,596
(32,603)
59,075

120,021
0
213,409
114,144
7,162
0
1,762
4,115
189,804
2,650
79,561
38,230
0
69,362
188,980
85,701
103,278
51,836
1,992
5,402
0
43,901
541
69,009
37,800
37,800
0
(26,328)
3,163
(29,490)
57,536

114,283
0
213,098
107,808
6,442
0
2,768
3,708
187,081
2,809
85,896
30,072
0
68,304
181,118
85,673
95,445
55,226
256
6,868
0
47,562
541
65,020
68,040
68,040
0
(59,465)
3,859
(63,324)
56,445

108,331
0
207,811
101,438
5,781
0
3,444
3,449
204,592
1,689
95,958
44,492
0
62,453
203,251
89,240
114,011
51,041
0
1,226
0
49,273
542
58,631
68,040
68,040
0
(64,436)
25,535
(89,971)
55,027

100,134
0
202,561
92,696
4,905
0
3,989
3,449
189,223
2,322
92,940
35,105
0
58,856
178,555
89,201
89,354
51,611
0
0
0
51,070
541
59,191
68,040
68,040
0
(63,000)
52,112
(115,112)
54,151

584,908
34,914
549,994
492,217
259,832
232,385
92,691
76,939
42,799
34,140
75,165
16,624
10,517
7,250
5,677
0
0
33,797

330,123
23,915
306,208
303,447
196,774
106,673
26,676
45,307
20,963
24,344
54,149
17,069
11,651
(31,704)
3,220
0
0
(2,321)

361,624
17,439
344,185
320,249
193,809
126,440
41,375
50,719
24,629
26,090
61,317
19,361
12,460
(24,542)
3,523
0
0
(7,178)

285,527
12,375
273,152
250,876
129,144
121,732
34,651
42,469
18,539
23,930
54,046
16,232
11,728
(23,192)
2,825

454,602
19,777
434,825
348,181
176,768
171,413
106,421
72,869
45,279
27,590
67,090
20,434
14,220
13,588
4,391
0
0
17,115

126,481
0
(12,522)
86,981

121,971
3,715
9,197
108,217

120,844
1,992
1,573
87,693

120,245
256
(34,925)
85,929

109,672
0
(28,065)
89,240

110,802
0
(26,017)
89,201

0.13
4.44
4.87
1.39
1.06
83.42
4.31
-2.72
-13.12
-7.95

0.24
4.49
9.37
1.49
1.03
76.59
3.49
4.43
21.58
10.94

0.22
2.84
6.54
1.89
1.00
84.15
3.49
2.36
10.59
5.97

0.18
5.17
9.11
1.10
1.03
91.92
3.63
-10.37
-47.31
-26.30

0.23
5.35
12.30
1.16
1.01
88.56
4.34
-7.99
-39.70
-21.35

0.21
5.68
12.29
0.99
1.06
87.86
3.89
-7.70
-39.37
-21.04

Items

204,192
115,265
6,981
0

192,807
620
89,664
20,895
1,591
80,037
181,591
86,981
94,610
68,413

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

68,413
58,068
37,800
37,800
0
20,268

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

429,153
20,252
408,901
358,002

71,151
66,186

66,186

19,071

(8,408)
4,114
0
0

(19,291)

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.79

5.01
1.96
2.99
0.07
2.43
17.95

7.35
1.69
1.24
0.14
0.42
18.26

3.84
-1.72
-9.60
-0.01
-5.13
9.56

3.77
-0.97
-6.79
-0.03
-4.12
8.62

3.07
-0.98
-8.12
-0.08
-3.82
8.70

-1.96
0.00
-3.31
15.36

67

Financial Statement Analysis of Non Financial Sector 2013

Hamid Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

197,916

190,676
4,498
324,077
186,178
11,768
0
0
0
80,425
620
46,252
15,023
0
18,530
249,117
82,659
166,457
256,496
20,469
225,886
0
10,142
0
(234,512)
132,716
132,716
0
(442,642)
0
(442,642)
75,414

258,630
142
407,641
258,488
11,799
0
0
0
77,182
2,995
36,429
15,630
0
22,129
267,984
76,125
191,859
244,005
12,515
225,886
0
5,604
0
(176,177)
132,716
132,716
0
(456,392)
0
(456,392)
147,499

245,240
0
408,253
245,240
13,860
0
0
0
50,351
4,044
15,560
9,390
0
21,357
249,238
74,781
174,457
236,882
5,469
225,886
0
5,527
0
(190,529)
132,716
132,716
0
(460,958)
0
(460,958)
137,713

231,716
0
407,432
231,716
13,302
0
0
0
44,187
5,453
8,477
7,366
0
22,891
258,149
77,184
180,965
233,891
1,094
225,886
0
6,911
0
(216,137)
132,716
132,716
0
(479,687)
0
(479,687)
130,834

15,494
194,272
78,277
115,995
66,089
0
38,500
0
27,589
0
284,858
132,716
132,716
0
(269,193)
0
(269,193)
421,335

250,142
250,142
0
272,022
176,497
95,525
(21,880)
10,432
1,600
8,832
30,581
14,902
14,646
68,660
618
0
0
100,909

326,255
326,255
0
326,997
226,144
100,853
(742)
12,454
2,799
9,655
34,079
12,090
11,869
(16,499)
1,683
0
0
(7,164)

313,791
313,791
0
325,482
221,777
103,705
(11,691)
13,964
2,791
11,173
3,913
12,272
12,032
(11,212)
3,138
0
0
(15,698)

116,767
116,767
0
125,297
45,370
79,927
(8,530)
10,264
772
9,492
25,751
10,716
10,499
(24,331)
1,170
0
0
(16,801)

136,880
136,880
0
136,468
37,927
98,541
412
9,929
256
9,673
36,223
2,847
2,598
470
684
0
0
11,946

(172,098)
0
2,175
127,745

21,984
20,469
68,042
103,128

67,827
12,515
(18,182)
88,640

46,353
5,469
(14,350)
80,250

17,754
1,094
(25,501)
78,278

350,947
0
(214)
78,277

0.06
5.23
7.55
1.15
0.26
100.66
-2.56
1.23
-1.93
-2.36

0.06
5.96
6.01
0.92
0.32
108.75
-2.16
22.83
-30.80
-91.48

0.07
3.71
4.79
0.97
0.29
100.23
-2.91
-5.44
8.03
-36.74

0.05
3.91
2.99
1.06
0.20
103.73
-2.55
-3.55
6.11
-19.64

0.05
9.18
6.31
0.42
0.17
107.31
-2.28
-8.51
11.97
-75.91

0.05
2.08
6.48
0.25
0.16
99.70
0.91
0.11
1.37
0.25

Items

294,640
197,916
12,555
0

132,413
791
70,740
28,775
0
32,107
502,427
127,745
374,682
39,195

39,195
(211,293)
132,716
132,716
0
(344,009)

514,787
0
702,623
514,787
12,120
0
0
0
30,432
62
6,004
8,872

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

380,935
367,832
13,103
383,434

(2,499)
19,167

19,167

19,931

4,070
1,895
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.39

5.41
5.69
27.45
0.20
5.13
-17.67

8.96
-0.39
-5.06
-0.01
-1.37
-13.27

20.17
0.07
-3.57
-0.03
-1.08
-14.36

13.77
-1.32
-20.84
-0.03
-1.92
-16.29

22.80
1.18
0.34
0.05
-0.02
21.46

1.07
0.00
0.16
-15.92

68

Financial Statement Analysis of Non Financial Sector 2013

Hira Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,563,628

1,758,240
0
2,144,825
1,500,810
79,606
0
247,653
9,778
1,465,223
17,586
1,214,811
136,600
0
96,226
1,729,143
1,383,611
345,532
365,014
295,752
0
0
69,263
0
1,129,306
715,520
715,520
0
347,894
0
347,894
65,893

1,789,024
0
2,201,618
1,480,324
78,878
0
294,863
13,837
1,567,817
6,021
1,333,960
79,498
0
148,338
1,710,386
1,380,294
330,091
268,321
186,297
0
0
82,024
0
1,378,134
715,520
715,520
0
596,722
0
596,722
65,893

1,969,930
353
2,412,276
1,630,659
83,083
0
313,150
25,768
1,841,681
11,562
1,413,499
186,753
0
229,867
1,943,063
1,594,888
348,174
342,231
200,377
20,500
0
13,064
108,289
1,526,317
715,520
715,520
0
744,904
82,500
662,404
65,893

2,040,735
7,024
2,491,522
1,638,156
84,756
0
364,770
30,785
1,921,574
36,295
1,478,486
147,274
0
259,519
2,050,797
1,720,778
330,019
316,954
143,884
63,300
0
15,485
94,285
1,594,558
715,520
715,520
0
813,145
82,500
730,645
65,893

2,409,673
10,185
2,842,058
1,946,354
89,501
0
421,091
32,043
2,033,590
21,411
1,545,711
131,419
0
335,049
2,221,571
1,695,262
526,309
526,686
258,195
174,900

2,524,728
1,660,526
864,202
2,132,457
1,355,538
776,919
392,271
81,231
41,594
39,637
152,248
341,029
333,108
12,232
10,355
0
0
288,961

3,116,909
1,379,686
1,737,223
2,508,119
1,815,275
692,844
608,790
114,902
42,834
72,068
198,376
263,526
253,884
277,578
19,575
71,552
0
163,685

4,947,939
1,434,618
3,513,321
4,218,795
3,478,680
740,115
729,144
147,967
71,203
76,764
210,141
326,067
303,084
276,694
46,994
71,552
0
42,507

4,087,240
757,745
3,329,495
3,534,210
2,566,554
967,656
553,030
141,531
63,685
77,846
217,131
295,903
272,359
171,746
105,155
71,552
0
105,155

3,985,373
456,596
3,528,777
3,450,137
2,696,165
753,972
535,236
144,804
72,921
71,883
271,604
298,442
277,620
150,269
256,901
0
71,552
256,901

1,527,156
0
54,889
941,044

1,494,321
295,752
1,878
1,679,363

1,646,455
186,297
186,451
1,566,592

1,868,548
200,377
158,148
1,795,265

1,911,512
143,884
(4,961)
1,864,662

2,221,692
258,195
(106,632)
1,953,457

0.23
9.88
10.85
0.53
0.98
85.08
1.89
1.95
5.63
4.16

0.09
13.51
5.41
0.78
0.85
84.46
1.85
0.38
1.08
0.81

0.05
8.45
2.55
0.93
0.92
80.47
1.44
8.44
22.14
17.68
3.61
2.34
2.09
8.91
0.08
3.61
19.26

0.10
6.59
3.77
1.30
0.95
85.26
1.50
7.72
19.05
15.74
3.21
3.50
1.91
5.59
0.02
3.21
21.33

0.09
7.24
3.60
1.03
0.94
86.47
1.48
4.42
11.01
9.09
0.93
2.76
1.63
4.20
0.04
0.93
22.29

0.07
7.49
3.30
0.90
0.92
86.57
1.62
3.58
9.14
7.27

Items

2,130,507
1,563,628
69,087
0

1,697,964
2,080
1,198,999
187,558
208,237
101,090
1,734,436
941,044
793,392
399,298

399,298
1,127,858
715,520
715,520
0
412,338

21,037
72,554
1,695,006
715,520
715,520

913,593
82,500
831,093
65,893

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,729,140
1,176,068
553,072
1,471,236

257,904
24,079

24,079

170,805

63,517
8,628
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.44

2.08
1.04
0.48
0.14
0.03
15.78

3.67
0.00
0.77
15.76

69

2.58
1.54
3.77
0.09
-1.49
23.69

Financial Statement Analysis of Non Financial Sector 2013

Husein Industries Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

465,285

452,623
0
1,194,971
442,833
57,415
0
476
9,314
1,574,391
1,306
797,817
614,060
0
161,208
1,365,081
999,438
365,643
277,135
248,818
0
0
11,636
16,682
384,798
106,259
106,259
0
278,539
33,858
244,682
0

415,679
0
1,197,217
391,483
53,596
0
641
23,555
1,433,370
8,390
566,958
675,904
0
182,119
1,249,685
943,372
306,312
352,789
340,300
0
0
12,489
0
246,575
106,259
106,259
0
140,317
33,858
106,459
0

695,079
0
1,474,537
666,793
43,162
0
569
27,717
1,379,305
1,980
527,290
714,447
0
135,588
423,965
148,542
275,423
1,454,199
1,440,897
0
0
13,302
0
196,220
106,259
106,259
0
(243,754)
33,858
(277,612)
333,715

695,079
0
1,474,537
666,793
43,162
0
569
27,717
1,379,305
1,980
527,290
714,447
0
135,588
423,965
148,542
275,423
1,454,199
1,440,897
0
0
13,302
0
196,220
106,259
106,259
0
(243,754)
33,858
(277,612)
333,715

695,079
0
1,474,537
666,793
43,162
0
569
27,717
1,379,305
1,980
527,290
714,447
0
135,588
423,965
148,542
275,423
1,454,199
1,440,897
0
0
13,302
0
196,220
106,259
106,259
0
(243,754)
33,858
(277,612)
333,715

1,395,273
248,055
1,147,218
1,167,447
718,539
448,908
227,826
55,380
27,445
27,935
124,101
160,852
155,163
13,643
6,786
0
0
(291,988)

1,169,922
536,014
633,908
1,114,647
510,384
604,263
55,275
66,771
30,452
36,319
113,609
164,521
154,727
(161,151)
7,982
0
0
(26,088)

496,641
112,271
384,370
690,443
356,560
333,883
(193,802)
67,780
20,550
47,230
91,393
131,007
88,934
(384,257)
5,416
0
0
(207,526)

496,641
112,271
384,370
690,443
356,560
333,883
(193,802)
67,780
20,550
47,230
91,393
131,007
88,934
(384,257)
5,416
0
0
(207,526)

496,641
112,271
384,370
690,443
356,560
333,883
(193,802)
67,780
20,550
47,230
91,393
131,007
88,934
(384,257)
5,416
0
0
(207,526)

542,340
0
(18,077)
707,845

661,933
248,818
6,857
1,248,255

599,364
340,300
(169,132)
1,283,672

1,650,419
1,440,897
(389,673)
1,589,439

1,650,419
1,440,897
(389,673)
1,589,439

1,650,419
1,440,897
(389,673)
1,589,439

0.39
10.15
50.90
0.55
1.05
86.23
3.96
-0.83
-4.01
-2.73

0.45
11.53
44.01
0.69
1.15
83.67
4.27
0.68
3.49
2.27

0.55
14.06
57.77
0.63
1.15
95.28
6.50
-8.32
-51.05
-25.55

1.69
26.38
143.86
0.24
3.25
139.02
9.57
-19.59
-173.56
-34.16

1.69
26.38
143.86
0.24
3.25
139.02
9.57
-18.52
-195.83
-23.28

1.69
26.38
143.86
0.24
3.25
139.02
9.57
-18.52
-195.83
-23.28

Items

1,231,652
465,285
46,526
0

1,505,489
4,237
801,381
554,540
0
145,331
1,428,434
707,845
720,589
144,936

144,936
397,404
106,258
106,258
0
291,146

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,089,447
468,004
621,443
939,386

150,061
55,926

55,926

110,633

(16,300)
1,777
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.36

1.75
1.09
0.98
-0.18
0.65
36.21

2.06
-0.04
-13.77
-0.02
-15.92
23.21

0.94
-3.32
-77.37
-0.11
-36.67
18.47

0.94
-3.32
-77.37
-0.11
-36.67
18.47

0.94
-3.32
-77.37
-0.11
-36.67
18.47

-1.50
0.00
-1.70
37.40

70

Financial Statement Analysis of Non Financial Sector 2013

ICC Textiles Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

636,685

1,045,604
0
1,059,602
1,043,457
1,169
0
0
2,147
412,174
5,914
212,652
122,429
0
71,179
629,102
487,762
141,340
513,143
128,596
209,153
0
30,461
144,933
315,533
100,008
100,008
0
(279,881)
0
(279,881)
495,407

999,661
0
1,063,623
997,659
995
0
0
2,002
381,991
6,113
228,873
60,212
0
86,793
736,525
515,952
220,573
474,732
95,943
209,153
0
33,853
135,783
170,395
100,008
100,008
0
(408,027)
0
(408,027)
478,414

954,470
0
1,065,647
952,641
50,397
0
0
1,829
423,862
32,684
241,483
95,613
0
54,082
765,370
528,130
237,240
341,500
63,584
109,150
0
42,027
126,739
271,462
300,011
300,011
0
(489,971)
0
(489,971)
461,422

1,017,394
0
1,030,937
1,015,676
50,876
0
0
1,718
287,548
38,029
144,696
27,659
0
77,164
781,054
520,431
260,623
263,996
31,792
32,735
0
52,571
146,898
259,892
300,011
300,011
0
(555,876)
0
(555,876)
515,757

980,683
0
1,040,005
979,040
47,144
0
0
1,643
259,631
5,499
140,163
25,663
0
88,306
743,315
542,269
201,046
234,123
0
33,299
0
63,055
137,769
262,876
300,011
300,011
0
(535,938)
0
(535,938)
498,803

1,331,862
910,269
421,593
1,242,908
949,367
293,541
88,954
44,477
20,458
24,020
82,533
114,720
111,754
(69,801)
4,216
0
0
3,874

1,522,531
1,041,063
481,468
1,511,140
1,156,194
354,946
11,391
45,483
20,104
25,380
87,389
110,899
107,887
(144,207)
10,081
0
0
(15,890)

2,246,377
1,787,515
458,862
2,181,623
1,811,103
370,520
64,754
41,342
14,918
26,424
94,581
108,186
105,317
(84,490)
23,595
0
0
(55,732)

1,778,224
1,201,416
576,808
1,833,598
1,286,950
546,648
(55,374)
51,357
20,625
30,732
105,628
93,945
84,829
(86,060)
5,987
0
0
11,408

1,728,459
1,394,107
334,352
1,723,664
1,301,020
422,644
4,795
47,401
15,683
31,718
125,339
75,048
66,331
4,241
10,386
0
0
(86,842)

234,381
0
(161,919)
465,653

828,676
128,596
(74,017)
616,358

645,127
95,943
(154,288)
611,895

612,962
63,584
(108,085)
591,714

523,888
31,792
(92,047)
552,223

496,999
0
(6,145)
542,269

0.21
7.17
13.17
1.17
0.52
101.56
11.30
-13.95
-92.96
-49.91

0.20
8.61
9.19
0.91
0.66
93.32
3.62
-5.53
-34.72
-13.13

0.09
7.28
3.95
1.10
0.52
99.25
7.11
-10.16
-59.35
-19.57

0.17
4.82
4.26
1.63
0.55
97.12
4.08
-6.12
-38.24
-13.43

0.08
5.28
1.56
1.36
0.37
103.11
4.02
-6.41
-32.39
-15.14

0.04
4.34
1.48
1.39
0.35
99.72
3.72
0.33
1.62
0.83

Items

1,102,165
636,685
49,419
0

428,418
12,100
179,872
164,503
0
71,943
830,722
465,653
365,069
147,791

147,791
86,590
100,008
100,008
0
(13,418)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,248,698
830,205
418,493
1,268,239

(19,541)
46,662

46,662

89,557

(155,760)
6,159
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

6.94

6.26
0.38
-5.24
0.00
-7.40
31.55

6.65
-0.34
-9.47
-0.01
-15.43
17.04

9.30
0.20
-3.76
-0.05
-3.60
9.05

12.29
-0.01
-4.84
0.01
-3.07
8.66

12.33
1.06
0.25
-0.09
-0.20
8.76

-12.47
0.00
-16.19
8.66

71

Financial Statement Analysis of Non Financial Sector 2013

Ideal Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

584,889

565,992
0
65,153
563,078
4,901
0
0
2,914
174,247
3,259
90,301
54,401
0
26,286
250,710
175,167
75,543
460,929
208,422
245,675
0
6,832
0
28,600
99,200
99,200
0
(70,600)
0
(70,600)
0

544,946
400
65,153
541,632
2,811
0
0
2,914
234,918
26,997
83,985
80,355
0
43,581
285,047
193,428
91,619
388,272
114,360
234,225
0
8,020
31,667
106,545
99,200
99,200
0
7,345
0
7,345
0

519,744
522
1,041,620
516,683
43,660
0
0
2,539
350,218
27,914
127,827
119,112
0
75,365
357,044
234,663
122,381
313,214
12,569
199,101
0
8,984
92,560
199,704
99,200
99,200
0
100,504
0
100,504
0

517,976
7,311
1,074,401
507,434
42,496
0
0
3,231
316,139
20,630
146,229
71,921
0
77,359
324,926
212,309
112,617
282,821
47,337
141,432
0
6,137
87,915
226,368
99,200
99,200
0
127,168
0
127,168
0

524,711
6,508
1,131,876
515,009
56,623
0
0
3,194
362,242
51,693
184,897
50,974
0
74,678
364,785
214,588
150,197
265,046
42,769
120,823
0
91,883
9,571
257,122
99,200
99,200
0
157,922
0
157,922
0

1,111,393
1,111,393
0
1,050,120
781,381
268,739
61,273
37,912
5,439
32,473
101,889
71,792
70,449
(47,391)
0
0
0
83,988

1,475,987
1,472,502
3,485
1,246,183
943,641
302,542
229,804
53,052
8,068
44,984
131,177
60,729
59,127
117,023
7,411
0
0
134,480

2,374,878
2,304,339
70,539
2,061,916
1,768,164
293,752
312,962
76,141
20,005
56,136
152,210
60,477
58,087
177,999
23,947
7,440
0
115,584

2,015,151
1,861,994
153,157
1,859,273
1,460,108
399,165
155,878
71,539
19,580
51,959
150,111
44,285
41,357
44,286
19,921
0
0
77,151

1,981,874
1,930,837
51,037
1,806,487
1,312,155
494,332
175,387
89,280
20,393
68,887
186,565
42,820
40,676
44,723
89,847
0
0
89,847

375,193
0
(50,193)
170,223

489,529
208,422
(47,391)
383,589

494,817
114,360
109,612
307,788

512,918
12,569
146,612
247,232

509,189
47,337
24,365
259,646

522,168
42,769
(45,124)
257,357

0.10
5.74
4.05
1.17
0.55
95.27
10.43
-5.74
-49.08
-11.15

0.23
6.46
4.89
1.50
0.70
94.49
24.88
-5.98
-92.45
-10.96

0.38
4.11
5.44
1.89
0.82
84.43
6.32
15.40
173.18
23.78

0.41
2.55
5.02
2.73
0.98
86.82
3.36
21.58
116.24
35.33
20.71
18.58
4.06
7.50
0.17
15.53
20.13

0.28
2.20
3.57
2.42
0.97
92.26
2.68
5.20
20.79
8.67

0.28
2.16
2.57
2.23
0.99
91.15
2.45
5.20
18.50
8.67

Items

989,022
584,889
45,638
0

260,318
6,591
179,234
39,905
0
34,588
470,014
170,223
299,791
301,270

301,270
73,923
99,200
99,200
0
(25,277)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

985,088
985,088
0
938,533

46,555
35,851

35,851

56,495

(45,268)
4,925
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.50

12.31
0.33
-4.26
0.12
-4.78
2.88

17.57
2.98
7.93
0.20
11.05
10.74

-4.60
0.00
-5.06
7.45

72

13.78
2.07
2.20
0.13
2.46
22.82

10.72
2.10
2.26
0.14
-4.55
25.92

Financial Statement Analysis of Non Financial Sector 2013

Idrees Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,020,024

967,360
3,312
1,047,788
952,280
67,457
0
0
11,768
857,293
30,781
490,090
268,812
0
67,611
841,772
678,673
163,099
381,056
99,811
100,330
0
10,313
170,602
601,825
180,480
180,480
0
126,152
0
126,152
295,193

1,059,889
4,618
1,434,254
1,047,788
65,981
0
0
7,483
777,399
46,077
300,600
381,852
0
48,871
709,716
612,040
97,676
401,065
45,393
100,330
0
11,416
243,926
726,507
180,480
180,480
0
167,600
0
167,600
378,427

1,001,029
4,709
1,453,781
993,185
74,689
0
0
3,135
680,004
38,678
199,801
354,987
0
86,539
509,395
410,361
99,034
398,446
12,038
100,330
0
14,490
271,588
773,192
180,480
180,480
0
237,739
0
237,739
354,973

1,049,236
0
1,795,211
1,032,682
73,284
0
0
16,554
751,898
47,013
248,333
303,446
0
153,106
538,706
430,878
107,828
461,739
80,179
100,330
0
17,351
263,879
800,689
180,480
180,480
0
278,425
0
278,425
341,784

1,426,947
0
2,242,242
1,401,538
79,391
0
0
25,409
1,078,496
42,834
536,222
400,983
0
98,457
856,539
736,021
120,518
566,650
79,277
100,330
0
20,668
366,375
1,082,254
180,480
180,480
0
345,684
0
345,684
556,090

751,716
751,716
0
635,400
366,318
269,083
116,315
24,680
1,353
23,327
80,067
142,608
141,202
(14,202)
3,063
0
0
(114,222)

1,237,402
1,237,402
0
1,056,855
722,399
334,456
180,547
33,051
1,081
31,970
102,712
112,397
110,772
52,079
6,608
18,048
0
122,894

1,203,112
1,203,112
0
1,042,953
666,197
376,755
160,159
55,774
3,063
52,711
116,655
95,933
93,304
91,455
17,265
18,048
0
244,993

1,169,019
1,169,019
0
1,003,061
623,716
379,345
165,958
39,170
872
38,298
122,398
81,873
76,841
42,541
12,630
18,048
0
53,273

2,242,355
2,178,211
64,144
1,997,815
1,430,506
567,309
244,540
77,334
8,206
69,128
179,615
91,103
82,648
79,260
17,416
18,048
0
(170,427)

959,451
0
21,732
435,926

982,880
99,811
(17,266)
778,484

1,127,571
45,393
27,423
657,433

1,171,637
12,038
56,143
422,399

1,262,428
80,179
11,863
511,057

1,648,904
79,277
43,796
815,298

0.39
10.50
34.16
0.44
0.94
82.13
2.33
1.40
4.35
2.88

0.36
18.97
35.76
0.41
1.02
84.53
2.03
-0.75
-2.38
-1.46

0.60
9.08
30.86
0.67
1.10
85.41
1.53
2.84
7.84
4.94
2.52
4.12
1.47
4.21
0.11
2.52
40.25

0.77
7.97
29.51
0.72
1.33
86.69
1.17
5.20
12.20
7.96
4.11
6.02
1.98
7.60
0.27
4.11
42.84

0.65
7.00
25.96
0.65
1.40
85.80
1.25
2.44
5.41
3.50
1.66
4.71
1.55
3.64
0.05
1.66
44.36

0.52
4.06
17.88
0.89
1.26
89.09
1.32
3.68
8.42
5.44
3.43
4.18
1.96
3.53
-0.12
3.43
59.97

Items

1,272,906
1,020,024
63,916
0

958,806
101,528
489,161
295,770
0
72,347
1,019,379
435,926
583,453
365,958

365,958
593,493
180,480
180,480
0
413,013

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

865,715
865,715
0
711,019

154,696
44,420

44,420

90,925

26,110
4,378
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.77

1.53
0.90
-1.89
-0.09
-0.96
33.35

3.02
0.00
1.20
32.88

73

Financial Statement Analysis of Non Financial Sector 2013

Indus Dyeing & Manufacturing Co. Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

3,258,316

4,092,590
0
5,360,287
3,054,934
309,364
0
1,036,115
1,542
3,039,112
66,894
2,215,792
515,706
0
240,720
2,994,701
2,573,218
421,483
1,659,906
1,204,700
73,000
0
69,694
312,512
2,477,095
180,737
180,737
0
2,296,358
22,432
2,273,926
0

4,333,431
0
5,500,152
2,918,740
289,462
0
1,409,204
5,487
2,606,690
69,268
1,571,944
721,961
0
243,517
1,666,022
1,149,547
516,475
963,705
626,648
0
0
73,877
263,180
4,310,394
180,737
180,737
0
4,129,657
22,432
4,107,225
0

4,316,802
9,815
5,602,898
2,790,546
274,333
0
1,513,134
3,307
3,593,265
81,908
2,013,128
1,195,625
0
302,604
1,086,952
553,816
533,136
559,569
266,503
0
0
79,385
213,681
6,263,546
180,737
180,737
0
6,082,809
22,432
6,060,377
0

6,627,430
274,495
7,670,812
4,632,079
363,112
0
1,716,263
4,593
4,311,122
160,090
2,903,226
834,427
0
413,379
2,366,040
1,774,660
591,380
1,187,985
892,943
0
0
84,869
210,173
7,384,527
180,737
180,737
0
7,203,790
22,432
7,181,358
0

6,872,003
98,959
8,838,867
5,371,700
491,384
0
1,396,305
5,039
5,826,529
144,239
4,027,035
1,129,122
0
526,133
2,950,413
2,071,589
878,824
808,605
690,369
0
0
118,236
0
8,939,514
180,737
180,737
0
8,756,167
22,432
8,733,735
2,610

8,470,152
4,509,816
3,960,336
7,336,043
5,738,163
1,597,880
1,134,109
402,678
191,875
210,803
450,661
582,171
514,952
273,694
74,913
27,111
0
59,388

10,911,595
2,701,476
8,210,119
8,372,140
6,771,348
1,600,792
2,539,455
465,214
217,634
247,580
618,050
495,702
430,194
1,996,637
187,504
90,369
0
2,290,113

18,253,523
3,300,192
14,953,331
15,355,860
13,700,429
1,655,431
2,897,663
485,212
255,533
229,679
677,158
336,760
253,358
2,275,270
185,247
271,106
0
1,283,520

15,385,496
2,807,196
12,578,300
13,132,878
10,745,333
2,387,545
2,252,618
628,545
323,611
304,934
698,368
253,415
230,405
1,789,888
163,565
632,580
0
961,790

20,022,197
3,348,565
16,673,632
16,402,510
13,329,158
3,073,352
3,619,687
922,966
430,696
492,270
1,110,676
343,136
325,935
2,509,460
144,689
180,737
0
1,440,336

4,235,094
0
61,254
1,470,648

4,137,001
1,204,700
171,670
3,777,918

5,274,099
626,648
1,718,765
1,776,194

6,823,115
266,503
1,818,918
820,319

8,572,512
892,943
993,744
2,667,603

9,748,119
690,369
2,184,034
2,761,958

0.19
6.87
6.09
1.19
1.01
86.61
1.88
3.90
11.45
6.54
7.33
3.82
1.53
3.23
0.01
11.00
137.06

0.47
4.54
6.62
1.57
1.56
76.73
0.61
28.38
58.83
42.43
20.02
6.94
5.64
18.30
0.87
100.10
238.49

1.18
1.84
6.55
2.31
3.31
84.13
0.26
30.64
43.04
37.62
7.71
9.07
9.98
12.46
0.78
115.64
346.56

0.42
1.65
5.42
1.41
1.82
85.36
0.48
18.99
26.23
23.25
2.57
5.30
8.77
11.63
0.27
89.98
408.58

0.43
1.71
5.64
1.58
1.97
81.92
0.42
21.23
30.75
27.39
13.08
4.97
8.70
12.53
0.38
130.84
494.61

Items

5,262,687
3,258,316
323,812
0

3,658,948
49,324
1,511,144
861,127
927,983
309,370
2,682,170
1,470,648
1,211,522
1,933,449

1,933,449
2,301,645
180,737
180,737
0
2,120,908

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

7,311,971
3,643,902
3,668,069
6,413,044

898,927
367,788

367,788

389,893

160,748
72,383
27,111
31,545

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


0.69
5.33
11.78
1.06
1.36
87.71
2.01
2.36
7.01
3.84
3.26
4.84

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.20
0.00
4.89
127.35

74

Financial Statement Analysis of Non Financial Sector 2013

Ishaq Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

870,239

820,456
0
1,460,934
816,760
63,536
0
0
3,696
1,155,320
9,575
641,706
407,323
0
96,716
1,156,218
998,544
157,674
391,153
264,389
66,500
0
16,740
43,524
428,405
96,600
96,600
0
212,191
17,250
194,941
119,614

783,414
558
1,482,528
779,160
59,679
0
0
3,696
1,046,076
11,501
478,356
436,995
0
119,224
964,863
732,561
232,302
390,338
206,750
94,000
0
16,880
72,708
474,289
96,600
96,600
0
260,296
17,250
243,046
117,393

734,709
0
1,490,470
730,850
56,827
0
0
3,859
1,383,501
32,627
732,804
482,797
0
135,273
1,219,159
889,849
329,310
307,197
116,750
94,000
0
18,773
77,674
591,854
96,600
96,600
0
379,763
17,250
362,513
115,491

729,337
25,379
1,511,009
699,155
53,035
0
853
3,950
1,414,012
9,388
721,849
549,549
0
133,226
1,297,014
1,050,554
246,460
244,610
53,750
104,500
0
24,184
62,176
601,725
96,600
96,600
0
391,474
17,250
374,224
113,651

958,076
1,270
1,805,257
945,960
51,488
0
6,831
4,015
1,446,087
55,657
679,963
542,722
0
167,745
1,308,931
1,076,817
232,114
291,350
87,278
99,000
0
19,681
85,391
803,882
96,600
96,600
0
467,013
17,250
449,763
240,269

3,196,504
2,106,823
1,089,681
2,837,984
1,948,893
889,091
358,520
125,583
77,461
48,122
141,718
139,714
122,297
96,308
21,240
7,728
0
314,862

4,210,345
2,665,170
1,545,175
3,735,674
3,167,363
568,311
474,671
177,724
115,419
62,305
178,672
135,327
127,694
165,700
41,252
4,830
0
(40,466)

3,748,190
2,381,213
1,366,977
3,386,042
2,389,854
996,188
362,148
164,252
107,606
56,646
176,947
168,522
136,806
34,277
36,825
0
0
(71,295)

3,731,271
3,731,271

2,389,314
1,634,055
755,259
2,093,799
1,573,110
520,689
295,515
94,905
52,005
42,900
116,370
230,232
182,282
(20,646)
8,118
0
0
86,666

903,217
0
(25,612)
966,008

819,558
264,389
(28,764)
1,262,933

864,627
206,750
67,340
939,311

899,051
116,750
119,618
1,006,599

846,335
53,750
(2,548)
1,104,304

1,095,232
87,278
54,618
1,164,095

0.38
7.67
20.64
1.03
1.03
89.08
3.72
-0.71
-3.18
-1.71

0.36
9.64
17.05
1.21
1.00
87.63
3.61
-1.01
-4.69
-2.40

0.46
4.37
13.67
1.75
1.08
88.78
2.86
5.06
21.34
11.44
9.71
6.68
1.79
3.01
0.23
7.77
49.10

0.42
3.21
11.47
1.99
1.13
88.73
2.58
8.39
31.08
18.79
25.77
5.75
2.30
3.94
-0.03
12.88
61.27

0.43
4.50
14.66
1.75
1.09
90.34
2.56
1.61
5.74
3.93

Items

1,450,359
870,239
67,876
0

1,260,685
13,739
680,601
454,307
0
112,038
1,227,707
966,008
261,699
451,631

451,631
451,586
96,600
96,600
0
354,986

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,200,687
1,243,521
957,166
1,960,283

240,404
87,109

87,109

168,732

(14,629)
10,983
0
0

3,334,671

3,334,671
396,600
172,136
104,577
67,559
206,756
139,632
125,124
91,620
27,342
9,660
0
108,388

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.23

3.72
0.89
-0.86
0.06
-2.98
44.35

-0.66
0.00
-2.65
46.75

75

5.19
1.25
0.91
-0.05
-0.26
62.29

0.46
3.74
14.55
1.55
1.10
89.37
1.99
4.03
13.04
9.44
6.65
5.49
1.73
2.46
0.07
6.65
83.22

Financial Statement Analysis of Non Financial Sector 2013

Ishtiaq Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

292,793

313,158
0
538,884
273,770
18,944
0
0
39,388
153,437
3,716
105,321
27,935
0
16,465
190,795
135,553
55,242
178,705
0
137,039
0
175
41,492
97,095
42,500
42,500
0
(62,291)
0
(62,291)
116,886

295,481
0
538,884
256,093
17,675
0
0
39,388
127,996
807
44,425
65,424
0
17,340
132,017
91,991
40,026
184,137
0
137,038
0
1,285
45,814
107,323
42,500
42,500
0
(45,318)
0
(45,318)
110,141

279,060
0
538,884
239,672
16,422
0
0
39,388
272,024
1,191
202,332
50,540
0
17,961
225,168
73,742
151,426
191,725
0
137,039
0
2,162
52,524
134,191
42,500
42,500
0
(12,176)
0
(12,176)
103,867

287,784
0
564,610
248,395
17,004
0
0
39,389
144,233
1,304
78,251
46,247
0
18,431
167,268
51,633
115,635
192,451
0
137,039
0
2,565
52,847
72,298
42,500
42,500
0
(81,467)
0
(81,467)
111,265

272,110
0
565,360
232,721
16,424
0
0
39,389
257,239
1,243
135,758
105,560
0
14,678
184,073
98,020
86,053
234,691

226,352
226,352
0
239,948
145,376
94,572
(13,596)
6,795
4,431
2,364
27,276
20,064
19,756
(40,455)
0
0
0
(28,871)

576,449
576,449
0
533,653
435,780
97,874
42,796
11,180
5,591
5,589
39,747
14,183
13,661
17,433
2,882
0
0
65,454

573,844
573,844
0
499,817
511,490
(11,673)
74,027
13,006
7,054
5,952
34,371
21,453
21,112
39,568
5,990
0
0
(89,401)

475,464
475,464
0
538,699
342,317
196,382
(63,235)
9,919
6,108
3,811
30,887
14,143
13,524
(87,297)
0
0
0
65,121

693,520
630,814
62,706
630,899
342,318
288,581
62,621
15,794
8,142
7,652
44,695
13,852
13,312
33,308
3,837
0
0
(60,696)

220,540
0
(14,288)
91,453

275,800
0
(40,455)
135,553

291,461
0
14,551
91,991

325,916
0
33,579
73,742

264,749
0
(87,297)
51,633

345,276
0
29,471
98,020

0.24
2.89
10.99
1.14
0.71
97.73
2.54
-2.43
-8.55
-6.15

0.17
8.86
12.34
0.49
0.80
106.01
3.81
-8.66
-35.34
-16.30

0.50
2.46
11.35
1.36
0.97
92.58
2.95
3.92
17.06
6.15

0.23
3.74
8.81
1.04
1.21
87.10
3.11
8.12
32.77
12.82

0.28
2.97
9.73
1.10
0.86
113.30
4.98
-17.76
-84.55
-29.56

0.58
2.00
15.22
1.31
1.40
90.97
3.79
6.93
36.43
10.92

Items

538,963
292,793
20,135
0

174,476
656
63,513
58,434
0
51,873
246,729
91,453
155,276
88,667

88,667
131,873
42,500
42,500
0
89,373

187,039

3,025
44,627
110,585
42,500
42,500
0
(36,489)
0
(36,489)
104,574

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

531,494
531,494
0
519,450

12,044
8,313

8,313

15,362

(11,631)
2,657
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

8.37

2.15
-1.05
-17.87
-0.08
-9.52
22.85

12.98
2.28
3.02
0.21
3.42
25.25

2.84
2.87
6.90
-0.21
7.90
31.57

6.08
-5.45
-18.36
0.18
-20.54
17.01

5.11
3.50
4.80
-0.14
6.93
26.02

-2.19
0.00
-3.36
31.03

76

Financial Statement Analysis of Non Financial Sector 2013

Island Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

594,736

706,659
889
631,522
577,195
30,030
0
128,496
79
569,665
10,674
370,786
119,791
0
68,414
643,220
463,783
179,437
289,826
155,006
50,000
0
12,286
72,534
343,278
5,000
5,000
0
19,883
569
19,314
318,395

720,330
1,472
637,581
555,317
28,716
0
163,470
71
406,777
26,260
251,194
71,139
0
58,185
352,572
180,345
172,227
242,248
127,418
10,000
0
11,355
93,475
532,287
5,000
5,000
0
209,363
558
208,805
317,923

758,405
6,507
641,386
533,121
27,332
0
218,701
75
825,552
11,904
427,256
83,553
0
302,840
513,189
280,415
232,774
86,932
0
0
0
13,286
73,646
983,836
5,000
5,000
0
642,094
549
641,545
336,742

963,631
22,357
720,057
693,588
26,637
3,999
243,363
324
708,077
21,624
271,047
160,360
0
255,046
255,832
16,584
239,248
91,814
0
0
0
18,299
73,515
1,324,062
5,000
5,000
0
829,962
805
829,157
489,100

1,114,829
41,830
842,058
776,805
39,112
4,194
290,999
1,001
984,270
85,227
350,374
173,251
0
375,418
244,745
19,531
225,214
171,776
84,633
0
0
21,050
66,093
1,682,578
5,000
5,000
0
1,200,131
916,111
284,020
477,447

1,403,698
1,043,882
359,816
1,292,376
929,830
362,546
111,322
109,384
48,440
60,944
94,412
137,146
119,183
(145,760)
3,480
0
0
30,508

1,750,820
1,004,107
746,713
1,372,136
937,242
434,894
378,684
92,261
51,114
41,147
110,170
100,568
87,249
221,515
12,576
2,500
0
373,177

2,319,040
287,218
2,031,822
1,742,481
1,646,053
96,429
576,559
118,710
58,593
60,117
136,493
60,713
35,715
440,541
26,152
2,500
0
235,754

2,193,794
566,380
1,627,414
1,876,110
1,389,236
486,874
317,684
117,263
54,578
62,685
126,812
31,130
14,688
195,921
22,711
5,000
0
273,336

2,218,984
549,331
1,669,653
1,725,208
1,380,841
344,367
493,776
162,985
82,809
80,176
160,308
31,873
21,981
385,573
21,566
2,500
0
235,615

634,663
0
(38,910)
452,261

633,104
155,006
(149,240)
618,789

774,535
127,418
206,439
307,763

1,070,768
0
411,889
280,415

1,415,876
0
168,210
16,584

1,854,354
84,633
361,507
104,164

0.31
5.51
16.01
0.82
1.06
84.69
2.57
-3.13
-11.61
-7.23

0.20
9.77
8.53
1.10
0.89
92.07
2.72
-11.54
-42.06
-22.99

0.28
5.74
4.06
1.55
1.15
78.37
1.12
18.43
50.60
31.47
83.58
6.97
3.54
12.65
0.63
417.88
1,064.57

0.19
2.62
3.60
1.46
1.61
75.14
0.61
32.50
58.11
47.75
165.76
5.43
13.33
19.00
0.39
828.78
1,967.67

0.71
1.42
7.31
1.31
2.77
85.52
0.26
12.04
16.98
15.76
34.64
8.09
14.34
8.93
0.79
346.42
2,648.12

1.06
1.44
7.81
1.06
4.02
77.75
0.25
20.45
25.65
23.58
145.60
6.33
18.54
17.38
0.57
728.01
3,365.16

Items

610,924
594,736
25,596
0

655,809
10,976
327,042
164,083
18,162
135,546
615,882
452,261
163,621
284,810

284,810
349,853
5,000
5,000
0
344,853

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,024,973
544,579
480,394
868,071

156,902
143,180

143,180

56,479

(33,166)
5,744
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.13

3.79
-0.22
-10.38
0.03
-298.48
686.56

-3.24
0.00
-77.82
699.71

77

Financial Statement Analysis of Non Financial Sector 2013

J.A. Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

332,190

322,372
0
388,471
305,405
27,330
0
0
16,967
30,891
9,661
13,616
0
0
7,613
43,982
0
43,982
233,629
15,111
177,201
0
2,878
38,439
75,652
126,012
126,012
0
(278,773)
0
(278,773)
228,414

307,689
10,663
386,603
280,014
26,186
0
0
17,012
63,223
21,593
17,530
5,637
0
18,463
65,877
0
65,877
235,601
15,111
174,869
0
1,619
44,002
69,434
126,012
126,012
0
(272,807)
0
(272,807)
216,230

292,398
0
403,995
275,376
22,030
0
0
17,022
50,668
8,342
56
0
27,338
14,932
43,508
0
43,508
236,367
15,111
178,060
0
569
42,627
63,191
126,012
126,012
0
(268,728)
0
(268,728)
205,907

444,557
28,053
540,010
399,306
12,085
0
0
17,198
72,502
18,026
32,505
8,227
270
13,474
77,904
0
77,904
277,019
15,111
177,199
0
0
84,709
162,136
126,012
126,012
0
(208,569)
0
(208,569)
244,693

433,249
1,085
575,398
414,992
20,149
0
0
17,172
138,812
24,391
87,237
7,962
293
18,929
94,409
0
94,409
287,192
15,111
171,068
0
0
101,013
190,460
126,012
126,012
0
(170,731)
0
(170,731)
235,179

480,345
432,771
47,574
509,677
352,116
157,561
(29,332)
11,396
2,576
8,820
46,228
205
0
(40,925)
554
0
0
(9,504)

571,674
539,919
31,756
556,558
389,183
167,375
15,117
13,591
1,691
11,900
50,736
212
0
2,298
2,954
0
0
27,206

716,222
578,700
137,521
701,008
547,034
153,975
15,213
15,218
4,561
10,657
41,391
750
0
(245)
7,651
0
0
16,801

589,264
570,088
19,176
566,984
439,778
127,206
22,280
12,772
599
12,173
53,052
150
0
11,720
5,873
0
0
10,678

860,044
846,735
13,309
795,480
591,533
203,947
64,564
20,297
6,058
14,239
82,943
231
0
46,292
1,689
0
0
19,174

127,545
0
(36,522)
0

309,281
15,111
(41,479)
15,111

305,035
15,111
(656)
15,111

299,558
15,111
(7,896)
15,111

439,155
15,111
5,847
15,111

477,652
15,111
44,603
15,111

0.05
0.54
0.00
1.34
0.32
103.16
2.79
-7.52
-26.40
-23.60

0.22
0.04
0.00
1.36
0.70
106.11
3.67
-10.50
-43.52
-18.74

0.41
0.04
0.99
1.54
0.96
97.36
4.34
0.63
3.17
0.75

0.82
0.10
0.00
2.09
1.16
97.88
4.43
-0.07
-0.37
-0.08

0.34
0.03
1.40
1.14
0.93
96.22
2.19
2.73
10.40
3.17

0.35
0.03
0.93
1.50
1.47
92.49
2.00
8.50
26.26
10.10

Items

387,927
332,190
37,431
0

94,412
14,891
26,433
0
0
53,088
299,057
0
299,057
15,111

15,111
112,434
126,012
126,012
0
(13,578)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

572,402
549,096
23,306
590,481

(18,079)
12,587

12,587

3,084

(33,719)
2,803
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

78

21.65

35.28

32.61

12,835.51

18.13

9.86

-5.89
0.00
-2.90
8.92

-8.52
-0.03
-3.29
6.00

0.40
0.09
-0.05
5.51

-0.03
0.06
-0.63
5.01

1.99
0.03
0.46
12.87

5.38
0.05
3.54
15.11

Financial Statement Analysis of Non Financial Sector 2013

J.K. Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

951,299

952,007
26,904
1,017,383
901,636
47,303
0
0
23,467
380,491
5,200
107,406
150,406
0
117,480
433,246
254,513
178,733
477,909
73,710
332,845
0
0
71,354
421,343
70,000
70,000
0
34,901
0
34,901
316,442

937,726
28,034
1,060,472
899,447
45,497
0
0
10,245
354,253
24,454
207,017
73,766
0
49,016
341,923
253,124
88,799
352,415
22,275
228,888
0
0
101,252
597,641
175,000
175,000
0
158,864
0
158,864
263,777

2,631,622
37,617
3,185,468
2,585,725
130,084
0
0
8,280
2,180,061
60,290
1,249,430
528,745
0
341,596
1,698,745
1,248,357
450,388
629,512
65,080
300,000
0
0
264,432
2,483,426
183,750
183,750
0
1,255,536
714,919
540,617
1,044,140

2,842,828
161,956
3,406,442
2,679,805
131,005
0
0
1,067
2,137,382
45,217
1,278,678
451,143
0
362,344
1,491,416
1,157,807
333,609
758,379
194,163
300,000
0
0
264,216
2,730,415
609,033
609,033
0
1,154,623
289,636
864,987
966,759

2,832,655
180,666
3,341,703
2,642,298
145,221
0
0
9,691
2,630,237
59,014
1,592,021
612,751
0
366,451
1,764,128
1,319,855
444,273
690,517
112,693
300,000
0
0
277,824
3,008,247
609,033
609,033
0
1,791,014
289,636
1,501,378
608,200

835,155
687,683
147,472
743,468
517,610
225,858
91,687
35,472
12,520
22,953
63,084
71,779
69,993
(1,593)
1,276
0
0
40,183

1,148,043
1,010,578
137,465
906,703
641,933
264,769
241,340
54,791
19,352
35,439
92,696
71,254
66,482
118,615
8,024
35,000
8,750
102,124

9,097,849
3,988,005
5,109,844
7,713,396
6,385,909
1,327,487
1,384,453
547,149
396,088
151,061
328,696
322,852
284,548
516,869
97,595
36,750
0
(763,089)

7,193,895
3,321,111
3,872,784
6,176,622
4,303,984
1,872,638
1,017,273
437,810
291,775
146,035
358,888
241,545
191,889
364,079
72,112
152,258
0
341,837

8,918,973
4,060,467
4,858,506
7,476,268
5,714,535
1,761,733
1,442,705
614,312
404,019
210,293
481,416
216,220
168,930
650,492
30,345
304,517
0
373,240

634,044
0
(15,319)
291,418

899,252
73,710
(2,869)
328,223

950,055
22,275
75,591
275,399

3,112,938
65,080
382,524
1,313,437

3,488,794
194,163
139,709
1,351,970

3,698,764
112,693
315,631
1,432,548

0.16
12.27
12.94
0.54
0.57
86.44
2.12
-0.75
-2.26
-1.72

0.36
8.59
18.01
0.63
0.88
89.02
2.16
-0.12
-0.37
-0.21

0.29
6.21
6.43
0.89
1.04
78.98
1.16
9.04
23.28
12.83
3.16
5.55
2.78
10.33
0.15
6.32
34.15

0.35
3.55
5.81
1.89
1.28
84.78
0.94
16.94
33.55
25.44
11.41
7.28
2.82
5.68
-0.33
22.82
135.15

0.33
3.36
6.27
1.44
1.43
85.86
0.82
7.44
13.97
11.03
1.92
5.63
2.90
5.06
0.15
4.79
44.83

0.38
2.42
6.87
1.63
1.49
83.82
0.82
12.46
22.67
18.10
2.04
5.60
4.85
7.29
0.15
10.18
49.39

Items

997,709
951,299
48,767
0

423,602
20,752
181,422
96,775
6
124,647
740,857
291,418
449,439
192,791

192,791
441,253
70,000
70,000
0
371,253

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

747,616
615,445
132,171
646,216

101,400
29,247

29,247

91,701

(10,455)
4,864
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.12

7.78
0.98
-0.19
0.04
-0.41
60.19

-1.40
0.00
-2.19
63.04

79

Financial Statement Analysis of Non Financial Sector 2013

Janana De Malucho Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,524,003

1,514,602
3,845
1,881,218
1,497,608
53,567
0
10,804
2,345
462,621
3,177
358,881
26,623
0
73,940
698,670
555,000
143,670
446,823
326,339
0
0
10,203
110,281
831,730
31,655
31,655
0
138,462
29,862
108,600
661,613

1,984,048
0
2,217,788
1,929,393
53,561
0
52,228
2,427
460,914
5,850
364,761
12,082
0
78,221
559,916
429,873
130,043
517,481
285,438
0
0
17,569
214,474
1,367,565
43,064
43,064
0
296,063
18,453
277,610
1,028,438

2,023,790
58,433
2,222,911
1,877,956
59,950
0
85,196
2,205
701,481
21,193
508,371
49,957
0
121,960
771,642
526,937
244,705
501,755
257,332
0
63,725
34,403
146,295
1,451,874
47,848
47,848
0
389,983
18,453
371,530
1,014,043

2,357,300
0
2,472,781
2,246,422
62,331
0
108,784
2,094
826,265
3,134
671,596
7,527
0
144,008
770,262
519,469
250,793
460,208
210,892
0
0
48,693
200,623
1,953,095
47,848
47,848
0
602,775
68,274
534,501
1,302,472

2,432,484
0
2,562,142
2,270,452
66,681
0
157,839
4,193
913,681
13,420
688,101
9,404
0
202,756
823,469
617,400
206,069
339,978
278
0
0
66,000
273,700
2,182,718
47,848
47,848
0
844,644
53,212
791,432
1,290,226

1,071,738
1,071,738
0
1,010,091
630,495
379,596
61,647
40,746
5,870
34,876
140,615
143,546
142,723
(149,174)
2,349
0
0
29,787

1,454,537
1,454,537
0
1,142,811
767,405
375,406
311,726
60,547
7,560
52,987
174,545
125,938
125,132
174,411
25,834
0
0
175,450

2,134,841
2,134,841
0
1,944,643
1,483,199
461,444
190,198
77,061
15,000
62,061
239,026
36,615
31,821
111,058
21,487
0
0
128,929

2,314,948
2,314,948
0
2,071,385
1,483,781
587,604
243,563
82,940
9,750
73,190
262,892
85,679
82,982
109,559
293
0
0
142,846

2,714,679
2,714,679
0
2,247,284
1,672,342
574,942
467,395
98,142
7,970
90,172
272,390
104,604
103,048
317,633
5,369
0
0
338,696

1,379,863
0
13,801
584,510

1,278,553
326,339
(151,523)
881,339

1,885,046
285,438
148,577
715,311

1,953,629
321,057
89,571
847,994

2,413,303
210,892
109,266
730,361

2,522,696
278
312,264
617,678

0.11
8.29
3.33
0.53
0.81
86.59
1.36
0.93
2.17
1.47

0.04
13.39
2.48
0.54
0.66
94.25
1.38
-7.27
-17.22
-11.22

0.03
8.66
0.83
0.59
0.82
78.57
0.79
7.89
15.86
11.03

0.09
1.72
2.34
0.78
0.91
91.09
0.88
4.30
7.88
5.79

0.01
3.70
0.33
0.73
1.07
89.48
0.63
3.71
6.44
5.02

0.03
3.85
0.35
0.81
1.11
82.78
0.53
9.73
15.36
12.87

Items

1,825,338
1,524,003
54,970
0

604,682
5,092
430,773
37,675
41,016
90,126
748,822
584,510
164,312
478,776

478,776
901,087
31,655
31,655
0
869,432

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,130,611
1,130,611
0
978,959

151,652
41,511

41,511

93,773

19,436
5,635
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.62

2.99
-0.05
-13.92
0.03
-47.87
262.75

3.99
2.39
11.99
0.16
34.50
317.57

4.20
4.49
5.20
0.10
18.72
303.43

3.45
2.32
4.73
0.12
22.84
408.19

3.95
4.08
11.70
0.29
65.26
456.18

1.72
0.00
4.36
284.66

80

Financial Statement Analysis of Non Financial Sector 2013

Jubilee Spinning & Weaving Mills Ltd.


2008

2009

2010

2011

667,219

790,964
0
871,989
649,735
21,683
0
137,243
3,986
141,534
7,966
28,618
22,719
25,112
57,120
151,395
40,548
110,846
123,882
57,228
0
0
26,309
40,345
657,221
324,912
324,912
0
(182,017)
(11,305)
(170,712)
514,326

859,125
10,897
862,483
636,688
20,068
0
208,387
3,153
106,962
3,975
32,153
13,223
19,978
37,632
137,080
46,145
90,935
96,141
29,344
0
0
30,595
36,202
732,866
324,912
324,912
0
(177,843)
0
(177,843)
585,798

763,045
5,000
848,215
621,643
18,291
0
134,395
2,007
107,426
2,903
21,907
31,064
19,531
32,021
172,844
49,114
123,729
64,553
13,076
0
0
32,378
19,099
633,074
324,912
324,912
0
(282,232)

763,285
763,285
0
707,363
599,253
108,110
55,922
46,986
1,223
45,762
60,895
10,767
10,468
24,158
24,158
0
0
43,709

513,570
0
(3,640)
0
0.05
1.25
1.26
0.92
0.49
98.59
1.27
0.02
0.05
0.02

Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

857,186
666,952
200,553
267

147,831
5,412
30,687
9,467
565
101,700
301,480
0
301,480
154,048

154,048
359,522
70,169
70,169
0
289,353

(Thousand Rupees)
2012
2013

(282,232)
590,394

638,000
5,000
848,215
604,758
16,885
0
26,396
1,846
158,491
1,351
8,698
91,341
29,337
27,764
160,058
27,389
132,669
101,201
48,902
0
0
35,297
17,002
535,232
324,912
324,912
0
(376,181)
12,703
(388,884)
586,501

627,501
5,000
854,898
596,325
15,117
0
24,020
2,156
307,217
1,144
41,079
185,750
49,397
29,847
273,497
45,265
228,232
112,848
56,774
0
0
39,987
16,087
548,373
324,912
324,912
0
(363,939)
31,728
(395,667)
587,400

703,589
703,589
0
665,909
561,217
104,692
37,681
43,625
1,317
42,309
64,047
9,430
8,984
29,438
4,747
0
0
43,375

783,739
783,739
0
792,221
679,747
112,473
(8,481)
26,777
2,030
24,747
66,434
5,991
5,610
(105,160)
8,840
0
0
16,445

217,253
217,253
0
230,468
147,514
82,954
(13,215)
20,644
2,137
18,507
56,564
4,690
4,132
(107,595)
2,278
0
0
(48,084)

394,451
394,451

781,103
57,228
0
97,776

829,008
29,344
24,691
75,489

697,628
13,076
(114,000)
62,190

636,433
48,902
(109,873)
76,291

661,221
56,774
(13,480)
102,039

0.37
1.41
2.98
0.82
0.93
92.67
0.42
2.76
4.75
3.73

0.27
1.34
1.88
0.73
0.78
94.64
0.32
3.10
4.24
3.66

0.31
0.76
3.96
0.90
0.62
101.08
0.37
-11.45
-15.40
-13.78

0.76
2.16
42.04
0.27
0.99
106.08
0.49
-12.91
-18.42
-16.13

0.86
0.69
47.09
0.42
1.12
101.11
0.70
-1.10
-1.76
-1.47

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

751,885
751,885
0
741,257

10,628
14,130

14,130

9,384

118
3,758
0
0

398,825
293,909
104,916
(4,374)
22,121
1,632
20,489
59,007
2,720
2,128
(9,515)
3,965
0
0
(22,066)

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

24.50

26.67
3.31
3.17
0.16
0.00
20.23

21.88
4.28
4.18
0.19
0.76
22.56

35.77
-17.74
-13.42
0.07
-3.51
19.48

24.98
-25.04
-49.53
-0.18
-3.38
16.47

9.60
-3.47
-2.41
-0.06
-0.41
16.88

0.02
0.00
-0.52
51.24

81

Financial Statement Analysis of Non Financial Sector 2013

Karim Cotton Mills Ltd.


Items
A.Non-Current Assets (A1+A3+A5+A6+A7)

2009

2010

2011

64
0
0
0
0
0
0
64
18
14
0
0
0
4
945
0
945
0
0
0
0
0
0
(863)
11,833
11,833
0
(12,696)
0
(12,696)
0

64
0
0
0
0
0
0
64
18
14
0
0
0
4
1,192
0
1,192
0
0
0
0
0
0
(1,110)
11,833
11,833
0
(12,943)
0
(12,943)
0

63
0
0
0
0
0
0
63
18
14
0
0
0
4
0
0
0
1,439
0
1,179
0
0
260
(1,358)
11,833
11,833
0
(13,191)
0
(13,191)
0

0
0
0
0
0
0
0
0
15
15
0
0
0
0
1,677
0
1,677
0
0
0
0
0
0
(1,662)
11,833
11,833
0
(13,495)
0
(13,495)
0

0
0
0
0
0
0
0
0
14
14
0
0
0
0
1,857
0
1,857
0
0
0
0
0
0
(1,843)
11,833
11,833
0
(13,676)
0
(13,676)
0

0
0
0
0
0
0
0
247
0
247
0
0
0
(247)
0
0
0
(247)

0
0
0
0
0
0
0
248
0
248
0
0
0
(248)
0
0
0
(198)

0
0
0
0
0
0
0
304
0
304
0
0
0
(304)

0
0
0
0
0
0
0
181
0
181
0
0
0
(181)

0
0
0
0
0
0
0
188
0
188
0
1
0
(189)
0
0
0
(189)

0
0
(112)

0
0
(56)

(674)
0
(98)
0

(863)
0
(189)
0

(1,110)
0
(247)
0

81
0
(248)
0

(1,662)
0
(304)
0

(1,843)
0
(181)
0

0.03

0.01

0.01

0.01

0.01

0.00
0.12

0.00
0.02

0.00
0.02

0.00

0.00
0.01

0.00
0.01

1.Capital work in progress


2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

0
0
0
0

90
23
0
0
0
67
764
0
764
0

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

0
(674)
11,833
11,833
0
(12,507)

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

F.Operation:
0
0
0
0

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

0
97

97

(98)
0
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

82

-1.13
-113.29
15.74
15.74

-1.09
-219.88
24.59
24.59

-1.07
-301.59
25.03
25.03

-1.06
-306.36
20.09
48.18

-1.01
-633.33
20.13
38.46

-1.01
-1,248.28
10.33
10.33

0.00
-0.08
-0.57

-0.20
-0.16
-0.73

-0.21
-0.21
-0.94

-0.14
-0.21
-1.15

-0.07
-0.26
-1.40

-0.03
-0.15
-1.56

Financial Statement Analysis of Non Financial Sector 2013

Khalid Siraj Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

473,761

447,133
0
383,665
429,091
9,692
0
0
18,042
98,627
1,663
2,496
247
0
94,221
90,445
39,712
50,733
293,374
8,469
206,993
0
5,240
72,673
161,941
107,000
107,000
0
(122,322)
0
(122,322)
177,263

436,720
0
858,850
419,089
40,515
0
0
17,631
144,138
13,400
18,001
1,600
0
111,137
137,761
60,142
77,619
260,628
0
207,037
0
5,543
48,048
182,469
107,000
107,000
0
(88,738)
0
(88,738)
164,207

406,493
0
862,675
388,862
38,854
0
0
17,631
121,692
5,693
24,992
8,435
0
82,572
141,034
68,379
72,655
246,813
0
212,460
0
7,558
26,795
140,337
107,000
107,000
0
(161,699)
0
(161,699)
195,036

367,511
0
858,002
349,924
34,864
0
0
17,587
147,857
3,845
59,053
8,519
0
76,440
185,033
95,179
89,854
233,316
0
200,924
0
8,538
23,854
97,019
107,000
107,000
0
(188,627)
0
(188,627)
178,646

82,342
230,309
71,286
159,023
215,225
0
193,788
0
10,698
10,739
66,127
107,000
107,000
0
(204,743)
0
(204,743)
163,870

431,304
430,993
311
487,450
349,815
137,635
(56,146)
13,169
0
13,169
4,803
22,104
21,748
(94,103)
2,162
0
0
(12,032)

724,343
640,398
83,945
712,682
521,171
191,511
11,661
17,882
4,188
13,694
60,708
19,023
17,566
(25,145)
3,634
0
0
(3,129)

1,110,715
1,110,715
0
1,127,120
918,197
208,923
(16,405)
16,767
1,890
14,877
71,092
19,026
18,433
(51,568)
11,477
0
0
(5,136)

796,442
796,442
0
805,160
600,725
204,435
(8,718)
15,088
1,962
13,126
70,752
14,818
14,403
(38,624)
7,974
0
0
(20,578)

1,084,471
1,082,068
2,403
1,088,159
806,520
281,639
(3,688)
17,545
1,988
15,557
101,718
17,295
16,697
(38,525)
5,482
0
0
37,936

346,960
0
(80,517)
93,405

455,315
8,469
(96,265)
48,181

443,097
0
(28,779)
60,142

387,150
0
(63,045)
68,379

330,335
0
(46,598)
95,179

281,352
0
(44,007)
71,286

0.03
2.93
1.17
0.96
0.62
105.20
1.78
-13.17
-41.99
-31.93

0.02
5.12
0.06
0.79
1.09
113.02
2.37
-15.33
-46.22
-23.46

0.11
2.63
0.22
1.25
1.05
98.39
2.18
-4.46
-14.60
-5.60

0.10
1.71
0.76
2.10
0.86
101.48
2.76
-9.30
-31.95
-12.42

0.07
1.86
1.07
1.55
0.80
101.09
4.31
-7.40
-32.55
-10.77

0.07
1.59
0.86
2.12
0.73
100.34
6.74
-7.50
-47.23
-12.60

Items

380,990
473,761
13,857
0

208,243
2,451
47,132
7,693
0
150,967
335,044
93,405
241,639
101,710

101,710
245,250
107,000
107,000
0
138,250

343,979
0
865,357
326,387
31,626
0
0
17,592
167,682
6,050
69,965
9,325

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

657,710
639,582
18,128
691,932

(34,222)
23,938

23,938

19,297

(77,229)
3,288
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

13.95

172.80
-3.33
-21.82
-0.03
-9.00
15.13

40.24
-0.43
-3.47
-0.01
-2.69
17.05

44.44
-1.80
-4.64
-0.01
-5.89
13.12

13.49
-1.68
-4.85
-0.05
-4.35
9.07

15.50
-1.31
-3.55
0.09
-4.11
6.18

-11.74
0.00
-7.52
22.92

83

Financial Statement Analysis of Non Financial Sector 2013

Khurshid Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

373,672

335,325
0
539,330
331,187
36,125
0
0
4,138
101,694
610
82,127
3,106
0
15,851
113,778
57,134
56,644
415,045
268,496
93,253
0
1,546
51,750
(91,804)
131,748
131,748
0
(346,590)
0
(346,590)
123,038

291,612
0
521,092
289,563
32,038
0
0
2,049
35,593
1,576
11,768
2,990
0
19,259
115,256
46,799
68,457
362,004
264,554
85,406
0
2,194
9,850
(150,055)
131,748
131,748
0
(393,325)
0
(393,325)
111,522

585,424
0
839,695
583,375
31,351
0
0
2,049
53,169
2,937
10,396
16,263
0
23,573
174,209
69,266
104,943
509,639
225,281
99,936
0
6,354
178,068
(45,255)
131,748
131,748
0
(495,337)
0
(495,337)
318,334

530,312
0
840,877
528,383
56,174
0
0
1,929
11,776
625
0
0
0
11,151
140,838
69,266
71,572
504,777
206,303
136,547
0
0
161,927
(103,527)
131,748
131,748
0
(523,633)
0
(523,633)
288,358

508,574
0
821,508
506,645
53,524
0
0
1,929
354
0
0
0
0
354
76,100
16,026
60,074
559,760
196,316
266,341
0
0
97,103
(126,932)
131,748
131,748
0
(461,475)
0
(461,475)
202,795

292,920
292,920
0
346,600
213,393
133,207
(53,680)
12,540
79
12,461
31,916
34,929
33,494
(100,485)
0
0
0
(22,924)

502,293
502,293
0
587,130
417,200
169,930
(84,837)
16,520
1,329
15,191
50,485
5,553
3,583
(100,151)
0
0
0
8,381

349,746
334,985
14,761
409,871
278,118
131,753
(60,125)
15,804
2,641
13,163
39,026
1,522
1,356
(76,087)
155
0
0
(20,360)

104,593
104,593
0
184,266
83,773
100,493
(79,673)
6,594
916
5,678
13,616
2,879
2,722
(74,144)
269
0
0
(18,079)

0
0
0
0
0
0
0
66,063
0
66,063
447
9,541
9,475
23,944
0
0
0
2,567

216,267
0
(69,610)
110,344

323,241
268,496
(100,485)
325,630

211,949
264,554
(100,151)
311,353

464,384
225,281
(76,242)
294,547

401,250
206,303
(74,413)
275,569

432,828
196,316
23,944
212,342

0.03
7.91
1.41
0.75
0.46
105.10
-14.54
-13.36
2,018.99
-37.78

0.03
11.92
1.06
0.67
0.89
118.33
-5.76
-21.31
155.57
-37.25

0.04
1.11
0.60
1.54
0.31
116.89
-3.18
-26.21
82.82
-37.43

0.11
0.44
4.65
0.55
0.31
117.19
-15.11
-15.76
77.91
-22.50

0.00
2.75
0.00
0.19
0.08
176.17
-6.24
-12.56
99.67
-17.13

0.00

-5.01
4.56
-20.78
5.74

-26.24
-70.89
-0.03
-5.65
-7.86

3.53

Items

550,575
373,672
41,831
0

132,430
3,301
99,174
5,348
0
24,607
289,835
110,344
179,491
253,649

253,649
(37,382)
131,748
131,748
0
(169,130)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

378,624
378,624
0
397,941

(19,317)
18,444

18,444

29,964

(67,717)
1,893
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.82

3.57
-2.00
-34.30
-0.04
-7.63
-6.97

42.68
-26.95
-19.94
0.02
-7.60
-11.39

33.64
-55.11
-21.75
-0.03
-5.79
-3.43

-17.89
0.00
-5.28
-2.84

84

0.00
0.00

0.00
1.82
-9.63

Financial Statement Analysis of Non Financial Sector 2013

Khyber Textile Mills Ltd.


Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

2009

2010

2011

41,190

39,995
0
219,314
30,724
17
0
0
9,271
6,725
92
0
0
0
6,633
63,837
4,155
59,682
19,786
9,349
1,445
0
0
8,992
(36,903)
12,275
12,275
0
(49,178)
258
(49,436)
0

30,798
0
219,314
30,709
14
0
0
89
6,642
49
0
0
0
6,593
56,427
4,155
52,272
20,690
5,194
15,496
0
0
0
(39,677)
12,275
12,275
0
(51,952)
258
(52,210)
0

30,785
0
219,314
30,696
13
0
0
89
6,640
47
0
0
0
6,594
49,991
0
49,991
28,127
0
27,088
0
0
1,039
(40,693)
12,275
12,275
0
(52,968)
258
(53,226)
0

30,774
0
219,314
30,685
11
0
0
89
6,650
57
0
0
0
6,593
40,568
0
40,568
32,390
0
32,390
0
0
0
(35,534)
12,275
12,275
0
(47,809)
258
(48,067)
0

0
0
0
0
0
0
0
2,903
0
2,903
1,428
5
0
(2,583)
0
0
0
(9,939)

0
0
0
0
0
0
0
1,582
0
1,582
1,026
1
0
(1,015)
2
0
0
(1,016)

0
0
0
0
0
0
0
1,302

0
0
0
0
0
0
0
8,716
0
8,716
1,273
10
0
(1,433)
0
0
0
4,328

21,525
0
(8,716)
0

(17,118)
9,349
(1,433)
13,504

(18,987)
5,194
(2,583)
9,349

(12,566)
0
(1,017)
0

(3,144)
0
(874)
0

451,232
0
(1,587)
0

0.01
1.61
0.16
0.28
0.38
150.09
3.25
-12.91
-68.91
-50.71

0.00

0.00

0.00

0.00

0.00

0.00
0.11

0.00
0.12

0.00
0.13

0.00
0.16

0.00
0.08

316,232
41,190
18
0

12,116
213
0
24
0
11,879
31,781
0
31,781
8,992

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

8,992
12,533
12,275
12,275
0
258

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

488,466

692,732
488,376
2,900
0
0
90
3,313
47

3,266
40,547

40,547
33,493

33,493

417,739
12,275
12,275
0
(55,128)
258
(55,386)
460,592

F.Operation:
14,694
14,694
0
22,054

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

(7,360)
2,251

2,251

236

(8,636)
80
0
0

1,302
642
0
0
(874)
0
0
0
(874)

0
0
0
0
0
0
0
2,381
0
2,381
639
0
0
(1,587)
0

(1,587)

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-58.77
0.00
-7.10
10.21

85

-2.27
-2.87
11.76
-65.03

-1.94
-6.14
6.75
14.31

-1.92
-2.71
2.53
6.43

-2.05
-2.34
2.29
11.13

0.18
-0.60
-0.83
-0.71

0.05
-1.17
-30.06

-0.13
-2.10
-32.32

-0.01
-0.83
-33.15

-0.01
-0.71
-28.95

-0.02
-1.29
340.32

Financial Statement Analysis of Non Financial Sector 2013

Kohat Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

752,160

866,002
0
1,129,943
792,683
60,046
0
0
73,319
379,812
811
101,094
237,316
0
40,591
530,909
370,283
160,626
417,150
295,473
100,000
0
20,659
1,018
297,755
208,000
208,000
0
(226,094)
0
(226,094)
315,849

828,870
10,316
1,098,262
748,745
43,450
0
0
69,809
706,212
575
421,020
221,283
0
63,334
833,199
633,020
200,179
387,669
262,500
100,000
0
23,906
1,263
314,214
208,000
208,000
0
(195,256)
0
(195,256)
301,470

796,375
584
1,094,433
726,854
44,084
0
0
68,937
715,731
477
442,184
216,050
0
57,020
814,697
582,319
232,378
376,762
187,500
160,000
0
28,310
952
320,647
208,000
208,000
0
(180,957)
0
(180,957)
293,604

860,287
17,382
1,137,308
795,001
44,667
576
0
47,328
416,780
731
318,780
4,653
0
92,616
461,530
240,942
220,588
279,874
112,500
131,678
0
34,659
1,037
535,663
208,000
208,000
0
(1,103)
0
(1,103)
328,766

854,839
5,644
1,200,856
846,567
50,723
459
0
2,169
718,312
5,829
455,961
153,025
0
103,497
692,174
466,894
225,280
244,709
50,000
130,178
0
39,272
25,259
636,268
208,000
208,000

1,444,643
1,416,986
27,657
1,444,217
927,048
517,169
426
50,255
10,365
39,890
105,558
140,849
121,173
(189,993)
258
0
0
190,007

1,686,696
1,686,696
0
1,514,660
1,253,036
261,624
172,036
56,900
6,752
50,148
121,372
94,341
78,237
21,652
8,433
0
0
(147,876)

2,133,636
2,133,636
0
1,999,571
1,788,239
211,332
134,065
46,841
6,250
40,591
136,779
78,762
76,911
27,771
21,336
0
0
158,882

2,418,912
2,418,912
0
2,148,863
1,678,244
470,619
270,049
63,166
8,493
54,673
168,110
91,890
84,666
116,623
0
20,800
0
625,661

2,355,043
2,355,043
0
2,002,433
1,597,934
404,499
352,610
84,362
9,038
75,324
211,539
72,603
69,089
196,578
5,947
26,000
0
38,715

669,045
0
(93,293)
501,734

714,905
295,473
(190,251)
665,756

701,883
262,500
13,219
895,520

697,409
187,500
6,435
769,819

815,537
112,500
95,823
353,442

880,977
50,000
164,631
516,894

0.42
7.81
18.61
1.11
0.87
95.29
2.56
-6.87
-25.05
-13.22

0.45
9.75
16.43
1.16
0.72
99.97
3.18
-14.92
-57.24
-27.46

0.27
5.59
13.12
1.10
0.85
89.80
3.89
1.56
7.08
3.06

0.27
3.69
10.13
1.41
0.88
93.72
3.72
1.82
8.75
3.97

0.01
3.80
0.19
1.89
0.90
88.84
1.38
8.36
27.24
15.42
5.61
7.59
2.38
4.82
0.84
5.61
25.75

0.23
3.08
6.50
1.50
1.04
85.03
1.47
13.79
33.55
23.17
7.33
5.17
3.85
8.35
0.04
9.16
30.59

Items

1,144,864
752,160
396,943
0

549,278
57
188,602
267,681
0
92,938
632,393
501,734
130,659
302,999

302,999
366,046
208,000
208,000
0
158,046

109,726

109,726
318,542

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,438,648
1,437,458
1,190
1,370,940

67,708
42,088

42,088

112,392

(86,099)
7,194
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

7.63

14.29
-0.57
-13.15
0.20
-9.15
14.32

4.01
1.28
1.28
-0.12
0.64
15.11

4.83
1.36
1.30
0.13
0.31
15.42

-5.98
0.00
-4.49
17.60

86

Financial Statement Analysis of Non Financial Sector 2013

Kohinoor Industries Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

849,283

817,019
0
827,646
792,782
17,939
0
20,811
3,427
115,194
8,870
5,813
5,075
0
95,436
116,987
7,943
109,044
426,463
426,463
0
0
0
0
388,763
303,025
303,025
0
(556,255)
187,395
(743,650)
641,993

794,214
0
834,381
775,026
17,115
0
15,763
3,425
26,906
8,971
0
2,686
0
15,249
30,122
865
29,257
438,463
438,463
0
0
0
0
352,535
303,025
303,025
0
(590,809)
187,395
(778,204)
640,320

770,210
0
832,783
759,286
15,096
0
7,768
3,156
21,971
3,595
0
0
0
18,376
8,595
865
7,730
462,006
0
462,006
0
0
0
321,580
303,025
303,025
0
(620,259)
187,395
(807,654)
638,813

749,732
0
812,142
744,175
13,185
0
5,188
369
16,941
1,144
0
0
0
15,797
11,756
865
10,891
446,404
0
446,404
0
0
0
308,513
303,025
303,025
0
(631,970)
187,395
(819,365)
637,458

(631,534)
187,395
(818,929)
657,148

0
0
0
0
0
0
0
301,814
0
301,814
44,449
14,916
14,498
(301,194)
485
0
0
(72,598)

0
0
0
0
0
0
0
54,300
0
54,300
13,211
272
196
(35,849)
379
0
0
(6,875)

0
0
0
0
0
0
0
40,384
0
40,384
8,690
41
0
(30,244)
712
0
0
(32,276)

0
0
0
0
0
0
0
27,628
0
27,628
7,031
18
0
(12,113)
953
0
0
1,803

0
0
0
0
0
0
0
20,420
0
20,420
3,974
7
0
16,025
2,921
0
0
20,557

601,158
0
(153,459)
25,671

815,226
426,463
(301,679)
434,405

790,998
438,463
(36,228)
439,327

783,586
0
(30,956)
865

754,917
0
(13,066)
865

754,518
0
13,104
865

0.10
13.66
0.00
0.17
0.69
97.29
1.79
-8.85
-21.92
-18.94

0.12

0.39

0.42

0.10

0.07

0.00
0.98

0.00
0.89

0.00
2.56

0.00
1.44

0.00
0.38

Items

862,979
849,283
27,373
0

542,666
24,762
14,608
0
51,570
451,726
790,791
25,671
765,120
101,748

101,748
499,410
303,025
303,025
0
196,385

769,123

761,877
753,218
11,743
0
15,536
369
8,886
1,601
0
0
0
7,285
23,491
865
22,626
425,879
0
425,879
0
0
0
328,639
303,025
303,025

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

241,479
241,479
0
234,932

6,547
134,812

134,812

32,983

(151,579)
1,880
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.40
-25.92
-67.82
-42.53

1.33
-4.09
-9.67
-4.46

1.46
-3.75
-8.97
-3.84

1.49
-1.55
-3.84
-1.57

1.37
2.07
5.03
2.12

16.53

0.00
-19.78

0.00
-0.43
10.18

0.05
0.43
10.85

-62.77
0.00
-5.06
16.48

87

-0.13
-9.96
12.83

-0.01
-1.20
11.63

-0.07
-1.02
10.61

-181.87

Financial Statement Analysis of Non Financial Sector 2013

Kohinoor Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

4,104,627

5,628,504
76,674
7,643,941
5,483,273
272,679
42,474
0
26,083
3,415,467
281,229
1,226,956
872,369
172,526
862,387
6,150,478
4,782,795
1,367,683
1,016,955
948,092
0
0
0
68,863
1,876,538
509,110
509,110
0
330,102
242,870
87,232
1,037,326

5,416,869
42,653
7,734,568
5,299,081
323,789
40,452
0
34,683
3,240,985
76,535
1,143,915
774,727
272,264
973,544
7,363,807
5,432,644
1,931,163
438,911
346,049
0
0
0
92,862
855,136
509,110
509,110
0
(678,127)
386,720
(1,064,847)
1,024,153

3,306,413
31,501
5,302,144
3,214,533
250,424
36,688
0
23,691
2,439,638
231,874
521,462
498,803
77,889
1,109,611
6,376,888
4,450,186
1,926,702
31,085
0
0
0
0
31,085
(661,922)
509,110
509,110
0
(1,867,570)
253,237
(2,120,806)
696,538

3,620,505
38,945
5,700,306
3,544,541
244,042
2,127
0
34,892
2,263,348
109,248
597,269
754,943
129,545
672,343
2,148,126
925,376
1,222,750
3,422,637
3,102,897
272,000
0
0
47,740
313,090
509,110
509,110
0
(1,079,456)
298,923
(1,378,379)
883,436

3,500,119
154,776
5,655,422
3,324,089
225,977
667
0
20,587
2,404,706
130,056
614,534
679,533
132,357
848,226
1,820,303
798,767
1,021,536
2,749,148
1,994,125
272,000
0
0
483,023
1,335,374
509,110
509,110
0
13,376
311,488
(298,112)
812,888

7,708,699
2,248,052
5,460,647
7,032,940
5,364,632
1,668,308
675,759
974,488
502,178
472,310
590,395
706,782
610,484
(694,889)
54,340
0
0
329,628

6,411,544
1,693,738
4,717,806
6,058,012
4,164,184
1,893,828
353,532
827,008
429,616
397,392
469,125
724,448
650,049
(1,118,973)
55,513
0
0
(152,705)

5,389,231
1,243,102
4,146,129
5,502,677
3,221,349
2,281,328
(113,446)
700,001
367,877
332,124
321,167
623,162
568,444
(1,234,472)
45,370
0
0
(487,242)

6,449,086
1,250,808
5,198,278
5,548,985
3,395,738
2,153,247
900,101
612,395
384,145
228,250
342,632
348,415
317,997
787,562
62,915
0
0
10,137

8,545,475
1,228,209
7,317,266
7,185,347
4,779,358
2,405,989
1,360,128
969,189
618,805
350,384
398,070
505,571
274,862
1,100,486
79,975
0
0
475,971

3,143,637
119,997
(53,169)
3,765,539

2,893,492
948,092
(749,229)
5,730,887

1,294,047
346,049
(1,174,486)
5,778,693

(630,837)
0
(1,279,842)
4,450,186

3,735,727
3,102,897
724,647
4,028,273

4,084,522
1,994,125
1,020,511
2,792,892

0.32
6.34
16.11
0.82
0.79
88.81
3.59
0.08
0.35
0.19

0.22
9.17
11.32
0.85
0.56
91.23
3.82
-8.24
-38.81
-23.02

0.15
11.30
12.08
0.74
0.44
94.49
9.12
-12.64
-81.93
-53.44

0.13
11.56
9.26
0.94
0.38
102.11
-9.68
-17.14
-1,277.82
-372.27

0.46
5.40
11.71
1.10
1.05
86.04
17.79
13.54
-451.54
50.73

Items

5,561,093
4,099,627
268,132
5,000

3,718,892
181,197
1,614,546
1,038,802
275,634
608,713
4,679,882
3,645,542
1,034,340
1,438,956

119,997

1,318,959
1,704,681
330,591
330,591
0
1,374,090

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

6,450,087
1,346,094
5,103,993
5,728,198

721,889
347,377

347,377

408,655

6,049
59,218
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.99

6.28
-0.14
-9.01
0.05
-14.72
36.86

5.60
-0.72
-17.45
-0.02
-23.07
16.80

10.33
-1.17
-22.91
-0.08
-25.14
-13.00

10.80
3.48
12.21
0.00
14.23
6.15

13.91
5.00
12.88
0.10
20.05
26.23

0.09
0.00
-1.61
51.56

88

0.52
5.92
7.95
1.45
1.32
84.08
3.42
18.67
133.52
28.14

Financial Statement Analysis of Non Financial Sector 2013

Kohinoor Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,201,968

1,223,999
0
2,387,557
1,218,664
65,480
0
516
4,820
1,369,117
1,357
953,282
88,546
71,500
254,432
1,347,931
950,202
397,729
1,005,031
575,226
397,000
0
32,805
0
240,154
1,300,000
1,300,000
0
(1,059,846)
0
(1,059,846)
0

1,210,883
0
2,382,968
1,199,289
65,916
0
274
11,320
1,472,305
3,004
1,009,537
164,136
41,500
254,127
1,527,764
1,137,469
390,295
772,037
336,753
397,000
0
38,284
0
383,387
1,300,000
1,300,000
0
(916,613)
0
(916,613)
0

1,263,846
0
2,546,922
1,247,945
65,299
0
432
15,469
1,329,722
6,987
926,860
215,970
36,500
143,405
1,326,951
944,949
382,002
592,743
145,723
397,000
0
49,621
399
673,874
650,000
650,000
0
23,874
0
23,874
0

1,556,672
0
2,910,026
1,538,351
72,698
0
795
17,526
1,402,755
6,430
1,105,978
147,623
0
142,724
1,502,740
1,146,789
355,951
279,047
78,279
138,855
0
61,913
0
1,177,640
650,000
650,000
0
527,640
397,000
130,640
0

1,592,091
0
3,022,743
1,566,319
90,678
0
1,081
24,691
2,127,046
9,585
1,581,737
321,608

2,885,619
1,794,879
1,090,740
2,645,530
1,897,917
747,613
240,089
163,102
72,577
90,525
250,108
275,053
230,245
(191,207)
11,025
0
0
(248,025)

4,214,153
2,374,711
1,839,442
3,546,852
2,588,777
958,075
667,301
199,112
102,183
96,929
325,109
303,085
253,281
173,742
30,268
65,000
0
96,950

6,809,167
4,614,663
2,194,505
5,910,871
4,889,079
1,021,792
898,297
240,168
128,665
111,503
400,828
301,754
241,878
362,752
71,184
0
0
505,611

5,627,854
4,129,630
1,498,224
5,064,140
4,030,836
1,033,304
563,714
189,386
88,668
100,718
440,260
227,553
197,922
155,928
56,279
0
0
9,504

6,230,121
3,626,224
2,603,897
5,371,749
4,296,111
1,075,638
858,372
313,059
135,386
177,673
530,013
238,489
196,524
309,694
44,170
260,000
0
(178,895)

915,844
0
10,617
767,475

1,245,185
575,226
(202,232)
1,525,428

1,155,424
336,753
78,474
1,474,222

1,266,617
145,723
291,567
1,090,672

1,456,687
78,279
99,649
1,225,068

1,616,529
35,028
5,524
1,579,733

0.06
4.94
2.72
1.10
0.79
89.30
4.16
1.12
5.32
2.82

0.12
9.53
3.07
1.11
1.02
91.68
9.80
-7.84
-55.96
-17.70

0.14
7.19
3.89
1.57
0.96
84.17
6.00
6.59
55.73
14.47
2.21
4.17
1.69
4.12
0.04
1.10
2.95

0.20
4.43
3.17
2.63
1.00
86.81
2.85
13.75
68.62
29.95

Items

2,003,895
1,201,968
59,336
0

1,085,587
8,519
703,921
68,377
1,355
303,415
1,371,711
767,475
604,236
472,618

472,618
443,226
1,300,000
1,300,000
0
(856,774)

214,116
2,102,608
1,544,705
557,903
174,128
35,028
73,898

65,202
0
1,442,401
650,000
650,000
0
792,401
397,000
395,401
0

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,511,538
1,598,760
912,778
2,242,794

268,744
130,773

130,773

123,973

23,269
12,652
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.57

3.03
0.17
-6.63
-0.11
-1.56
1.85

0.93
0.00
0.08
3.41

89

0.10
4.04
2.62
1.90
0.93
89.98
1.51
5.62
16.84
11.45

7.35
2.50
5.33
0.26
2.24
5.18

5.09
1.79
2.77
0.01
0.77
9.06

0.16
3.83
5.16
1.68
1.01
86.22
1.58
9.27
23.64
20.15
1.02
3.94
2.58
4.97
-0.08
2.04
11.10

Financial Statement Analysis of Non Financial Sector 2013

Kohinoor Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

3,972,540

8,143,655
92,336
6,552,906
4,047,897
369,616
0
3,969,805
33,617
5,131,884
80,297
1,779,826
1,050,101
607,610
1,614,050
6,762,527
5,727,513
1,035,014
2,190,079
2,019,490
0
0
0
170,589
4,322,933
1,455,262
1,455,262
0
1,604,079
583,336
1,020,743
1,263,592

10,501,191
86,324
9,275,570
6,409,975
371,618
0
3,970,005
34,887
6,556,108
78,851
2,393,113
1,329,065
642,111
2,112,968
8,169,138
6,838,894
1,330,244
1,853,068
1,695,072
0
0
0
157,996
7,035,093
1,455,262
1,455,262
0
1,906,006
607,402
1,298,604
3,673,825

11,763,606
1,748
9,967,208
6,745,943
357,745
9,563
4,970,594
35,758
4,539,059
420,996
1,657,252
707,400
600
1,752,811
6,806,838
5,742,009
1,064,829
1,423,694
1,311,233
7,477
0
0
104,984
8,072,133
2,455,262
2,455,262
0
1,931,374
144,919
1,786,455
3,685,497

11,195,746
8,585
9,523,270
6,152,796
412,373
6,284
4,977,566
50,515
4,002,184
385,503
1,529,949
986,683
611
1,099,438
6,329,557
4,981,967
1,347,590
679,811
534,842
4,794
0
0
140,175
8,188,562
2,455,262
2,455,262
0
2,059,475
144,919
1,914,556
3,673,825

10,981,023
39,351
9,698,380
5,919,761
317,036
3,006
4,978,523
40,382
4,339,574
320,852
1,768,203
1,066,724
1,040
1,182,755
6,257,996
4,905,580
1,352,416
389,507
38,958
0
0
0
350,549
8,673,094
2,455,262
2,455,262
0
2,544,007
144,919
2,399,088
3,673,825

8,458,899
3,006,688
5,452,211
7,198,993
3,192,060
4,006,933
1,259,906
662,903
464,848
198,055
807,226
1,260,230
998,029
(536,676)
55,753
0
0
106,116

10,693,338
4,287,277
6,406,061
8,692,529
3,347,817
5,344,712
2,000,809
630,244
397,818
232,426
901,039
1,072,768
1,027,891
376,448
83,824
0
0
(403,780)

12,037,253
5,329,520
6,707,733
10,213,705
7,117,966
3,095,739
1,823,548
693,234
425,063
268,171
846,286
1,037,294
999,479
688,790
132,181
0
0
1,727,143

11,146,698
5,190,240
5,956,458
9,310,049
4,992,004
4,318,045
1,836,649
728,893
402,526
326,367
840,114
870,740
817,908
304,289
109,826
0
0
844,892

14,250,439
7,714,464
6,535,975
12,116,187
8,382,098
3,734,089
2,134,252
747,729
438,598
309,131
1,065,932
640,543
584,092
798,435
103,529
0
0
612,206

8,030,273
0
92,455
3,994,524

6,513,012
2,019,490
(592,429)
7,747,003

8,888,161
1,695,072
292,624
8,533,966

9,495,827
1,311,233
556,609
7,053,242

8,868,373
534,842
194,463
5,516,809

9,062,601
38,958
694,906
4,944,538

0.26
14.90
12.41
0.64
0.76
85.11
2.07
-4.01
-11.53
-7.38

0.25
10.03
12.43
0.63
0.80
81.29
1.42
2.48
6.63
4.89

0.17
8.62
5.88
0.74
0.67
84.85
1.02
4.13
9.12
7.49

0.22
7.81
8.85
0.73
0.63
83.52
0.86
1.93
3.74
3.31

0.22
4.49
7.49
0.93
0.69
85.02
0.77
5.23
9.47
8.91

Items

6,048,099
3,972,540
363,853
0

9,542,782
75,387
1,673,062
1,340,460
3,756,737
2,697,136
5,485,049
3,994,524
1,490,525
3,044,651

3,044,651
4,985,622
1,455,262
1,455,262
0
3,530,360

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

7,558,322
3,694,079
3,864,243
6,395,622

1,162,700
543,540

543,540

882,335

130,805
38,350
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


0.94
11.67
17.73
0.56
1.74
84.62
1.71
0.93
2.13
1.45

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.52

4.75
0.46
-6.34
0.01
-4.07
29.71

4.47
1.37
3.52
-0.04
2.01
48.34

7.26
1.69
5.72
0.21
2.27
32.88

7.29
1.37
2.73
0.12
0.79
33.35

8.06
2.37
5.60
0.09
2.83
35.32

1.73
0.00
0.64
34.26

90

Financial Statement Analysis of Non Financial Sector 2013

Landmark Spinning Industries Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

240,569

240,589
0
297,391
240,564
6
0
0
25
589
76
0
475
0
39
1,456
0
1,456
199,893
0
199,893
0
0
0
39,829
121,237
121,237
0
(169,122)
0
(169,122)
87,713

240,582
0
297,391
240,557
5
0
0
25
590
76
0
475
0
39
382
0
382
201,859
0
201,859
0
0
0
38,931
121,237
121,237
0
(170,019)
0
(170,019)
87,713

240,577
0
297,391
240,552
5
0
0
25
598
84
0
475
0
39
251
0
251
203,015
0
203,015
0
0
0
37,909
121,237
121,237
0
(171,041)
0
(171,041)
87,713

240,573
0
297,391
240,548
4
0
0
25
605
91
0
475
0
39
272
0
272
204,080
0
204,080
0
0
0
36,826
121,237
121,237
0
(172,124)
0
(172,124)
87,713

35,654
121,237
121,237
0
(173,296)
0
(173,296)
87,713

0
0
0
0
0
0
0
924
0
924
466
2
0
(926)
0
0
0
(827)

0
0
0
0
0
0
0
896
0
896
488
1
0
(897)
0
0
0
(1,966)

0
0
0
0
0
0
0
1,021
0
1,021
513
1
0
(1,022)
0
0
0
(1,148)

0
0
0
0
0
0
0
1,081
0
1,081
568
2
0
(1,083)
0
0
0
(1,057)

0
0
0
0
0
0
0
1,171
0
1,171
598
1
0
(1,172)
0
0
0
(1,227)

40,754
0
(885)
0

239,721
0
(926)
0

240,790
0
(897)
0

240,924
0
(1,022)
0

240,906
0
(1,083)
0

240,981
0
(1,172)
0

0.00

0.38

1.44

2.23

2.08

2.24

0.00
0.00

0.00
0.40

0.00
1.54

0.00
2.38

0.00
2.22

0.00
2.37

Items

297,391
240,569
7
0

611
72
0
475
0
64
200,426
0
200,426
0

0
40,754
121,237
121,237
0
(80,483)

240,570
0
297,391
240,545
4
0
0
25
710
110
0
561
0
39
299
0
299
205,327
0
205,327
0
0

F.Operation:
0
0
0
0

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

0
885

885

(885)
0
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

91

4.92
-0.45
33.28
33.28

5.06
-0.38
-2.30
-0.66

5.19
-0.37
-2.28
-0.37

5.36
-0.42
-2.66
-0.42

5.55
-0.45
-2.90
-0.45

5.77
-0.49
-3.23
-0.49

0.00
-0.07
3.36

0.00
-0.08
3.29

-0.01
-0.07
3.21

-0.01
-0.08
3.13

-0.01
-0.09
3.04

-0.01
-0.10
2.94

Financial Statement Analysis of Non Financial Sector 2013

Mahmood Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,755,924

1,977,158
143
3,256,301
1,632,149
180,122
0
338,388
6,478
2,441,209
9,226
1,443,806
387,579
262,280
338,317
1,972,157
1,592,346
379,811
734,754
595,030
0
0
0
139,724
1,711,456
99,850
99,850
0
1,611,606
7,120
1,604,486
0

2,341,767
92,958
3,431,711
1,681,073
167,646
0
256,658
311,078
2,672,950
15,358
1,642,560
420,538
269,408
325,087
1,955,831
1,462,730
493,101
809,170
688,597
0
0
0
120,573
2,249,716
150,000
150,000
0
2,099,716
7,120
2,092,596
0

3,178,601
79,756
4,174,885
2,217,824
214,017
0
838,716
42,304
3,560,415
11,556
2,468,739
607,043
0
473,077
2,353,735
1,342,559
1,011,175
1,102,137
986,893
0
0
0
115,244
3,283,144
150,000
150,000
0
3,133,144
7,120
3,126,024
0

3,390,955
32,640
4,591,782
2,393,015
242,378
0
921,087
44,213
3,566,166
9,118
2,244,875
693,221
0
618,952
2,404,149
1,308,099
1,096,050
945,174
829,930
0
0
0
115,244
3,607,798
150,000
150,000
0
3,457,798
7,121
3,450,677
0

4,143,098
6,428
5,431,838
3,050,205
280,861
0
1,073,764
12,701
5,041,572
13,846
3,646,587
539,698
0
841,441
3,799,073
2,711,508
1,087,565
1,258,873
1,143,629
0
0
0
115,244
4,126,724
150,000
150,000
0
3,976,724
7,121
3,969,603
0

6,811,268
3,285,910
3,525,358
5,727,025
3,978,943
1,748,082
1,084,243
585,381
227,972
357,409
350,873
381,250
354,654
190,205
39,950
39,940
50,150
572,819

8,135,551
1,825,273
6,310,278
6,628,423
4,450,162
2,178,261
1,507,128
578,128
269,381
308,747
429,116
340,467
301,389
646,039
85,000
90,000
0
1,061,188

15,133,883
2,802,379
12,331,504
12,870,810
9,017,774
3,853,037
2,263,073
681,893
446,985
234,908
579,735
482,380
438,060
1,275,196
157,000
150,000
0
969,737

14,145,534
2,675,388
11,470,146
12,489,112
8,228,488
4,260,624
1,656,422
644,705
423,839
220,866
621,470
471,631
412,487
632,676
148,000
150,000
0
1,181,978

14,225,506
2,307,474
11,918,032
12,289,367
8,628,155
3,661,212
1,936,139
859,770
574,120
285,650
780,826
469,608
422,091
817,723
151,000
150,000
0
(23,844)

2,429,801
0
82,715
1,549,880

2,446,210
595,030
110,315
2,187,376

3,058,886
688,597
471,039
2,151,327

4,385,281
986,893
968,196
2,329,453

4,552,972
829,930
334,676
2,138,029

5,385,597
1,143,629
516,723
3,855,137

0.33
5.60
5.69
1.54
1.24
84.08
1.58
4.34
11.21
7.80
3.76
4.72
1.54
2.79
0.21
15.05
171.40

0.36
4.18
5.17
1.62
1.37
81.47
1.23
13.70
32.62
23.47
6.23
4.95
3.14
7.94
0.38
37.40
149.98

0.26
3.19
4.01
2.25
1.51
85.05
1.05
21.70
46.10
34.26
7.45
6.13
3.91
8.43
0.28
74.55
218.88

0.29
3.33
4.90
2.03
1.48
88.29
0.93
9.24
18.36
14.16
3.23
6.30
2.53
4.47
0.35
32.31
240.52

0.15
3.30
3.79
1.55
1.33
86.39
1.23
10.13
21.14
16.46
4.44
3.90
2.94
5.75
0.00
44.45
275.11

Items

3,206,068
1,755,924
174,020
0

2,598,381
7,612
1,646,959
145,331
273,106
525,373
1,924,504
1,549,880
374,624
748,559

748,559
1,681,242
99,850
99,850
0
1,581,392

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

5,073,169
2,432,918
2,640,251
4,478,254

594,915
332,926

332,926

221,160

82,715
0
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


0.22
4.36
2.86
1.17
1.35
88.27
1.59
2.05
4.89
3.49

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.08

1.63
0.00
8.28
168.38

92

Financial Statement Analysis of Non Financial Sector 2013

Maqbool Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

593,974

723,032
1,850
1,205,822
716,757
56,778
0
868
3,558
614,221
8,205
286,307
276,956
0
42,753
888,734
604,766
283,968
136,862
57,075
62,807
0
6,791
10,189
311,657
168,000
168,000
0
(6,611)
0
(6,611)
150,268

696,828
3,880
1,235,266
687,580
58,619
0
868
4,500
318,317
494
166,592
114,659
0
36,572
451,755
282,566
169,189
162,754
65,625
62,807
0
9,537
24,785
400,636
168,000
168,000
0
82,368
0
82,368
150,268

675,434
0
1,273,871
669,490
56,696
0
289
5,655
545,719
728
200,509
269,930
578
73,974
575,257
279,749
295,508
177,942
52,500
61,872
0
9,033
54,537
467,954
168,000
168,000
0
149,685
0
149,685
150,268

656,841
1,220
1,309,038
649,966
54,691
0
0
5,655
827,814
15,719
375,462
341,213
289
95,131
773,247
426,933
346,314
159,183
26,250
72,941
0
10,484
49,508
552,225
168,000
168,000
0
233,957
0
233,957
150,268

957,312
590
1,683,598
951,056
74,293
0
0
5,666
1,198,123
6,338
505,198
603,949
0
82,638
1,098,725
654,326
444,399
368,729
204,584
88,166

1,807,314
935,071
872,243
1,636,003
1,181,986
454,017
171,311
80,739
52,471
28,268
120,596
115,037
112,872
(16,272)
8,722
0
0
59,799

2,183,978
1,664,916
519,062
1,890,570
1,369,255
521,315
293,408
86,433
43,706
42,727
148,905
94,511
93,709
118,490
13,475
37,800
0
438,355

3,970,776
2,239,121
1,731,654
3,587,532
2,997,854
589,677
383,244
113,477
49,387
64,090
179,658
91,036
89,958
179,153
46,808
42,000
0
90,556

3,421,881
1,616,449
1,805,432
3,073,768
2,149,559
924,209
348,113
129,791
50,136
79,655
186,236
68,239
67,633
166,769
50,983
37,800
0
(41,246)

4,554,284
2,797,913
1,756,371
4,060,908
2,950,356
1,110,552
493,376
168,318
79,285
89,033
299,138
89,120
87,420
236,370
60,241
46,200
0
(18,423)

428,492
0
(4,435)
583,018

448,519
57,075
(24,994)
661,841

563,390
65,625
67,215
348,192

645,896
52,500
90,345
332,249

711,408
26,250
77,986
453,183

1,056,710
204,584
129,929
858,910

0.41
4.05
16.67
1.53
0.78
93.06
5.57
0.40
2.30
0.94

0.32
6.37
15.32
1.35
0.69
90.52
3.29
-1.30
-6.64
-3.71

0.25
4.33
5.25
2.15
0.70
86.57
1.53
10.07
33.27
23.42
2.78
13.11
2.26
5.43
0.71
6.25
23.85

0.47
2.29
6.80
3.25
0.95
90.35
1.61
16.02
41.25
29.63
3.15
19.80
2.99
4.51
0.12
7.88
27.85

0.46
1.99
9.97
2.30
1.07
89.83
1.69
12.33
32.69
24.57
3.06
9.11
3.47
4.87
-0.04
6.89
32.87

0.56
1.96
13.26
2.11
1.09
89.17
2.13
12.99
38.12
26.74
3.81
9.01
3.70
5.19
-0.01
10.48
40.95

Items

973,944
593,974
56,119
0

577,171
2,744
223,708
299,676
868
50,175
742,653
583,018
159,635
250,190

250,190
178,302
168,000
168,000
0
10,302

14,233
61,746
687,981
168,000
168,000
0
369,713
0
369,713
150,268

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,797,354
1,337,146
460,208
1,672,579

124,775
55,035

55,035

72,840

4,402
8,837
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

8.03

6.31
0.86
-0.90
0.06
-1.49
18.55

0.24
0.00
-0.26
10.61

93

Financial Statement Analysis of Non Financial Sector 2013

Masood Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

3,025,599

3,166,615
22,966
4,488,594
3,126,591
87,216
0
0
17,058
6,455,124
321,026
1,727,771
3,197,857
0
1,208,470
5,151,640
3,654,594
1,497,046
1,949,718
1,800,948
0
0
148,770
0
2,520,381
900,000
900,000
0
1,240,961
300,000
940,961
379,420

3,954,541
135,173
5,355,230
3,807,338
439,278
0
0
12,030
8,342,574
482,074
1,789,329
3,538,815
0
2,532,356
6,855,439
4,752,138
2,103,301
1,767,529
1,581,643
0
0
185,886
0
3,674,147
1,141,667
1,141,667
0
2,153,060
600,000
1,553,060
379,420

4,690,379
169,035
6,388,698
4,500,125
371,470
0
0
21,219
10,279,413
701,416
4,895,990
2,964,896
0
1,717,111
9,212,586
6,801,493
2,411,093
1,589,408
1,365,523
0
0
223,885
0
4,167,798
1,075,000
600,000
475,000
2,713,378
600,000
2,113,378
379,420

4,781,042
54,760
6,955,972
4,695,015
398,084
0
0
31,267
11,137,170
925,384
4,646,583
3,550,116
0
2,015,087
8,304,547
5,837,674
2,466,873
2,853,779
2,596,707
0
0
257,072
0
4,759,886
1,008,333
600,000
408,333
3,372,221
541,666
2,830,555
379,332

5,563,253
65,016
8,130,159
5,457,079
428,745
0
0
41,158
13,767,642
525,632
6,501,520
3,832,218
0
2,908,272
11,005,643
8,319,990
2,685,653
2,612,023
2,297,663
0
0
314,360
0
5,713,229
995,000
600,000
395,000
4,111,967
533,333
3,578,634
606,262

10,946,180
674,271
10,271,909
8,851,416
3,958,919
4,892,497
2,094,764
836,195
605,061
231,134
1,510,507
719,855
648,177
550,111
98,405
135,000
0
632,821

14,720,830
1,200,528
13,520,302
12,085,511
6,484,614
5,600,897
2,635,319
1,149,859
836,458
313,401
2,099,082
595,274
540,990
904,428
143,533
171,250
0
837,370

18,524,930
1,509,012
17,015,918
15,552,188
11,262,037
4,290,151
2,972,742
1,165,370
828,796
336,574
2,410,798
923,074
836,617
944,947
214,570
105,000
0
1,317,097

19,274,793
1,051,765
18,223,028
16,052,482
9,468,045
6,584,437
3,222,311
1,286,606
910,442
376,164
2,714,043
999,338
898,252
999,230
181,762
105,000
0
490,895

22,744,589
1,369,065
21,375,524
18,838,816
12,588,563
6,250,253
3,905,773
1,715,977
1,270,852
445,125
3,330,463
1,105,926
963,927
1,129,196
222,712
105,000
0
(1,596,039)

4,287,605
0
209,253
2,621,724

4,470,099
1,800,948
316,706
5,455,542

5,441,676
1,581,643
589,645
6,333,781

5,757,206
1,365,523
625,377
8,167,016

7,613,665
2,596,707
712,468
8,434,381

8,325,252
2,297,663
801,484
10,617,653

0.52
6.84
24.53
0.96
1.32
81.53
2.76
5.24
19.86
11.99
2.68
4.29

0.68
6.58
29.21
1.14
1.25
80.86
2.82
6.16
23.35
12.56
3.35
6.34
1.85
5.03
0.09
5.02
28.00

0.59
4.04
24.04
1.20
1.22
82.10
2.35
8.25
29.20
18.25
4.44
8.23
2.67
6.14
0.10
6.66
32.18

0.40
4.98
16.00
1.24
1.12
83.95
2.59
6.93
24.10
16.88
6.96
3.78
2.13
5.10
0.12
12.17
69.46

0.54
5.18
18.42
1.21
1.34
83.28
2.34
6.47
22.38
14.95
7.79
4.15
2.11
5.18
0.04
13.62
79.33

0.40
4.86
16.85
1.18
1.25
82.83
2.38
6.41
21.56
14.17
8.63
3.50
2.17
4.96
-0.12
15.11
95.22

Items

3,500,076
3,025,599
226,193
0

5,208,822
137,255
1,838,707
1,933,875
0
1,298,985
3,946,816
2,621,724
1,325,092
2,096,885

2,096,885
2,190,720
900,000
300,000
600,000
1,290,720

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

7,884,785
573,659
7,311,126
6,428,798

1,455,987
517,713

517,713

538,964

408,010
74,257
124,500
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

5.17
0.00
11.13
73.02

94

Financial Statement Analysis of Non Financial Sector 2013

Mehr Dastagir Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

214,369

1,333
0
3,668
851
115
0
416
66
146,138
33
0
1,047
0
145,059
94,440
32,159
62,282
0
0
0
0
0
0
53,031
92,000
92,000
0
(39,085)
0
(39,085)
116

748
0
3,536
681
109
0
0
66
112,637
112
0
1,047
0
111,479
62,413
0
62,413
0
0
0
0
0
0
50,972
92,000
92,000
0
(41,028)
0
(41,028)
0

625
0
3,536
558
87
0
0
67
105,868
1
0
1,014
0
104,853
56,518
0
56,518
0
0
0
0
0
0
49,975
92,000
92,000
0
(42,025)
0
(42,025)
0

503
0
3,536
436
74
0
0
67
102,524
1
0
1,014
0
101,509
53,645
0
53,645
0
0
0
0
0
0
49,382
92,000
92,000
0
(42,618)
0
(42,618)
0

503
0
3,536
436
74
0
0
67
102,524
1
0
1,014
0
101,509
53,645
0
53,645
0
0
0
0
0
0
49,382
92,000
92,000
0
(42,618)
0
(42,618)
0

89,000
89,000
0
111,215
84,561
26,654
(22,215)
5,131
252
4,879
1,274
570
400
(13,716)
0
0
0
(132,920)

0
0
0
0
0
0
0
1,941
20
1,922
250
2
0
(1,944)
0
0
0
(221)

0
0
0
0
0
0
0
991
8
983
134
7
0
(998)
0
0
0
(111)

0
0
0
0
0
0
0
592
8
584
252
0
0
(592)
0
0
0
0

0
0
0
0
0
0
0
592
8
584
252
0
0
(592)
0
0
0
0

279,827
0
(43,777)
9,309

53,031
0
(13,716)
32,159

50,972
0
(1,944)
0

49,975
0
(998)
0

49,382
0
(592)
0

49,382
0
(592)
0

0.29
1.13
6.21
0.69
2.16
113.93
0.66
-11.89
-29.29
-16.70

0.01
0.64
1.18
0.60
1.55
124.96
1.78
-5.67
-10.75
-8.24

0.02

0.02

0.02

0.02

0.00
1.80

0.00
1.87

0.00
1.91

0.00
1.91

Items

248,085
214,369
10,038
0

121,683
1,492
13,440
14,309
416
92,026
56,225
9,309
46,916
77,764

77,764
202,063
92,000
92,000
0
110,063

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

230,268
230,268
0
262,346

(32,078)
12,488

12,488

2,596

(42,626)
1,151
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

17.13

-18.51
0.00
-4.76
21.96

95

-33.29
-15.41
-1.41
-1.49
5.76

1.22
-1.49
-3.74
-3.74

1.13
-0.91
-1.98
-1.98

1.09
-0.57
-1.19
-1.19

1.09
-0.57
-1.20
-1.20

0.00
-0.21
5.54

0.00
-0.11
5.43

0.00
-0.06
5.37

0.00
-0.06
5.37

Financial Statement Analysis of Non Financial Sector 2013

Mian Textile Industries Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

765,745

734,021
0
816,687
723,526
40,885
0
0
10,495
159,358
463
74,852
26,223
0
57,820
309,311
140,464
168,847
547,022
443,456
38,564
0
5,224
59,779
37,046
221,052
221,052
0
(533,396)
0
(533,396)
349,389

696,299
0
819,230
688,533
37,891
0
0
7,766
104,052
1,412
27,061
19,874
0
55,706
238,244
112,303
125,941
562,507
421,689
38,564
0
6,204
96,051
(400)
221,052
221,052
0
(558,079)
0
(558,079)
336,627

661,922
0
819,273
653,651
35,446
0
0
8,271
65,368
1,813
2,919
11,559
0
49,076
89,312
24,813
64,499
675,979
449,368
38,564
0
5,149
182,898
(38,001)
221,052
221,052
0
(583,683)
0
(583,683)
324,630

606,924
0
778,028
603,276
31,652
0
0
3,648
81,573
2,121
11,359
18,469
0
49,624
128,335
28,125
100,210
624,489
430,899
38,564
0
6,211
148,815
(64,327)
221,052
221,052
0
(598,724)
0
(598,724)
313,345

578,763
0
777,662
575,115
29,906
0
0
3,648
68,366
9,621
19,842
19,842
0
19,061
108,382
0
108,382
650,691
447,931
38,564
0
5,933
158,263
(111,944)
221,052
221,052
0
(635,722)
0
(635,722)
302,726

261,679
240,158
21,521
286,394
63,354
223,040
(24,715)
14,886
4,918
9,968
59,557
38,321
37,320
(76,127)
0
0
0
(13,434)

268,913
263,344
5,570
258,533
21,638
236,895
10,381
14,902
2,616
12,285
76,995
31,844
30,927
(36,071)
1,375
0
0
6,691

151,053
151,053
0
152,911
6,391
146,521
(1,859)
14,649
2,674
11,975
56,074
19,495
11,832
(36,002)
1,599
0
0
(39,736)

92,965
92,965
0
113,636
18,043
95,593
(20,671)
18,852
2,533
16,319
39,900
12,916
12,900
(52,439)
934
0
0
2,060

233,662
233,662
0
240,669
26,408
214,261
(7,007)
32,341
2,766
29,575
82,805
10,760
10,728
(46,423)
1,194
0
0
19,691

629,958
0
(152,587)
135,106

584,068
443,456
(76,127)
583,920

562,107
421,689
(37,446)
533,992

637,978
449,368
(37,601)
474,181

560,162
430,899
(53,373)
459,024

538,747
447,931
(47,617)
447,931

0.05
7.45
2.72
0.56
0.60
112.98
6.15
-15.31
-144.39
-28.75

0.09
14.64
10.02
0.29
0.52
109.44
23.12
-8.17
-88.21
-12.54

0.09
11.84
7.39
0.34
0.44
96.14
-2,001.38
-4.26
-196.86
-6.29

0.15
12.91
7.65
0.21
0.73
101.23
-20.14
-4.71
187.50
-6.00

0.16
13.89
19.87
0.14
0.64
122.24
-11.70
-7.41
102.49
-8.75

0.27
4.60
8.49
0.36
0.63
103.00
-6.78
-6.95
52.67
-8.45

Items

822,277
765,745
9,265
0

203,584
1,696
114,473
14,684
0
72,731
339,371
135,106
204,265
494,390

494,390
135,568
221,052
221,052
0
(85,484)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

540,612
468,828
71,784
610,808

(70,196)
39,463

39,463

40,258

(149,917)
2,670
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.72

3.50
-1.04
-29.09
-0.02
-3.44
1.68

9.94
-0.17
-13.41
0.01
-1.69
-0.02

51.75
-2.04
-23.83
-0.05
-1.70
-1.72

8.18
-3.07
-56.41
0.00
-2.41
-2.91

11.78
-3.33
-19.87
0.03
-2.15
-5.06

-27.73
0.00
-6.90
6.13

96

Financial Statement Analysis of Non Financial Sector 2013

Mohammad Farooq Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,297,346

1,268,908
0
1,528,615
1,246,055
58,082
0
0
22,853
710,077
7,603
431,950
147,557
0
122,967
1,483,010
904,418
578,592
133,603
43,988
80,000
0
9,615
0
362,372
188,892
188,892
0
(614,538)
42,749
(657,287)
788,018

1,432,623
0
0
1,432,623
0
0
0
0
500,284
803
284,075
91,012
0
124,394
903,679
410,366
493,313
877,357
744,274
82,000
0
46,493
4,590
151,871
188,892
188,892
0
(1,035,709)
42,749
(1,078,458)
998,688

0
0
0
0
0
0
0
0
1,338,095
871
50,653
13,056
0
1,273,515
1,638,316
1,154,173
484,143
0
0
0
0
0
0
(300,221)
188,892
188,892
0
(1,357,953)
42,749
(1,400,702)
868,840

1,247,434
0
1,247,434
1,247,434
76,006
0
0
0
19,600
4,647
0
0
0
14,953
1,606,455
1,160,510
445,945
0
0
0
0
0
0
(339,421)
188,892
188,892
0
(1,397,153)
42,749
(1,439,902)
868,840

1,247,434
0
1,247,434
1,247,434
0
0
0
0
16,024
1,070
0
0
0
14,954
1,619,263
1,160,510
458,753
0
0
0
0
0
0
(355,805)
188,892
188,892
0
(1,413,537)
42,749
(1,456,286)
868,840

1,101,670
318,167
783,503
1,293,848
504,768
789,080
(192,178)
135,194
59,701
75,493
210,516
99,341
97,050
(402,271)
8,816
0
0
47,469

743,279
317,653
425,626
933,514
431,043
502,471
(190,235)
138,419
38,233
100,186
202,836
117,397
106,421
(430,828)
2,324
0
0
(8,127)

225,127
135,450
89,677
449,498
100,091
349,407
(224,371)
90,105
7,567
82,538
57,171
43,282
18,223
(336,328)
23,456
0
0
39,041

37,533
37,533
0
50,653
892
49,761
(13,120)
11,157
0
11,157
3,878
21,596
9,522
(41,427)
0
0
0
7,080

0
0
0
0
0
0
0
9,030
0
9,030
2,086
7,377
0
(16,384)
0
0
0
(4,077)

891,575
0
(118,646)
767,108

495,975
43,988
(411,087)
948,406

1,029,228
744,274
(433,152)
1,154,640

(300,221)
0
(359,784)
1,154,173

(339,421)
0
(41,427)
1,160,510

(355,805)
0
(16,384)
1,160,510

0.13
7.39
14.35
0.53
0.72
91.08
1.97
-4.56
-12.90
-11.12

0.10
9.02
13.39
0.56
0.48
117.44
4.46
-18.66
-70.10
-57.98

0.10
15.79
12.24
0.38
0.55
125.59
11.73
-22.03
-167.56
-56.49

0.01
19.23
5.80
0.17
0.82
199.66
-5.46
-20.56
453.43
-92.27

0.00
57.54
0.00
0.03
0.01
134.96
-4.73
-3.18
12.95
12.95

0.00

Items

1,528,241
1,297,346
63,858
0

1,035,925
6,159
692,566
176,425
0
160,775
1,441,696
767,108
674,588
106,292

106,292
785,283
188,892
188,892
0
596,391

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,229,399
93,959
1,135,440
1,119,703

109,696
156,762

156,762

90,880

(106,378)
12,268
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.78

2.55
-3.14
-36.51
0.03
-21.76
19.18

2.62
-3.05
-57.96
0.00
-22.93
8.04

4.44
-17.46
-149.39
0.02
-19.05
-15.89

-8.65
0.00
-6.28
41.57

97

-3.35
-110.37
0.00
-2.19
-17.97

0.00
0.01

-4.55
-1.29
4.71
4.71

0.00
-0.87
-18.84

Financial Statement Analysis of Non Financial Sector 2013

Mubarak Textile Mills Ltd.


2009

2010

2011

60,643

64,872
6,835
154,849
56,328
4,492
0
0
1,709
22,698
611
0
18,442
0
3,645
94,481
42,904
51,576
7,516
1,297
4,814
0
1,406
0
(14,427)
54,000
54,000
0
(86,029)
0
(86,029)
17,602

60,972
6,835
154,849
52,284
4,044
0
0
1,853
18,127
424
0
15,417
0
2,286
86,562
40,410
46,151
6,213
738
4,814
0
660
0
(13,676)
54,000
54,000
0
(84,216)
0
(84,216)
16,540

33,373
0
53,479
32,418
3,201
0
0
954
13,310
48
0
11,132
0
2,130
62,046
28,788
33,259
10,614
0
10,614
0
0
0
(25,977)
54,000
54,000
0
(88,331)
0
(88,331)
8,353

32,079
0
53,479
31,125
1,294
0
0
954
13,013
28
0
11,050
0
1,935
63,276
28,800
34,476
11,264
0
11,264
0
0
0
(29,448)
54,000
54,000
0
(91,657)
0
(91,657)
8,209

53,479
29,920
1,204
0
0
954
12,158
197
0
9,995
0
1,966
62,745
28,784
33,961
11,739
0
11,739
0
0
0
(31,452)
54,000
54,000
0
(93,523)
0
(93,523)
8,071

51,564
51,564
0
48,658
16,801
31,857
2,906
3,642
45
3,597
6,496
7,022
6,904
(5,132)
606
0
0
3,140

20,391
20,391
0
13,194
559
12,635
7,197
2,563
0
2,563
2,825
6,310
6,249
1,155
349
0
0
3,008

10,500
10,500
0
6,560
0
6,560
3,941
3,359
0
3,359
2,261
5,125
5,087
(11,987)
314
0
0
(8,329)

0
0
0
1,354
0
1,354
(1,354)
4,076
0
4,076
1,773
3,707
3,702
(2,864)
592
0
0
(682)

0
0
0
1,202
0
1,202
(1,202)
4,495
0
4,495
2,968
3,796
3,794
(1,211)
793
0
0
(290)

(8,191)
0
(13,271)
42,500

(6,910)
1,297
(5,738)
44,201

(7,463)
738
806
41,149

(15,363)
0
(12,301)
28,788

(18,184)
0
(3,456)
28,800

(19,713)
0
(2,004)
28,784

0.25
4.76
31.73
0.83
0.36
102.53
-13.21
-12.09
1,077.15
2,322.78

0.20
13.62
35.76
0.59
0.24
94.36
-7.07
-5.47
45.38
67.97

0.18
30.94
75.61
0.26
0.21
64.71
-6.78
1.39
-8.22
-16.07

0.18
48.81
106.02
0.22
0.21
62.47
-2.80
-19.06
60.46
105.03

0.18

0.16

0.00
0.21

0.00
0.19

-2.53
-6.24
10.33
17.07

-2.37
-2.75
3.98
6.39

0.26
-9.95
0.03
-1.06
-2.67

1.18
5.67
0.03
0.15
-2.53

-1.36
-114.16
-0.11
-2.28
-4.81

0.23

0.68

A.Non-Current Assets (A1+A3+A5+A6+A7)

1.Capital work in progress


2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

(Thousand Rupees)
2012
2013

2008

Items

65,280
60,643
4,577
0

39,338
314
0
26,493
0
12,531
108,172
42,500
65,672
0

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

0
(8,191)
54,000
54,000
0
(62,191)

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

30,874

F.Operation:
83,483
83,483
0
85,599

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

(2,116)
8,559

8,559

3,970

(12,845)
426
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-15.39
0.00
-2.46
-1.52

98

-0.01
-0.64
-5.45

0.00
-0.37
-5.82

Financial Statement Analysis of Non Financial Sector 2013

Mukhtar Textile Mills Ltd.


Items
A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

69,870

78,467
0
214,104
77,320
6,608
0
0
1,147
3,094
40
0
1,661
0
1,393
23,825
0
23,825
0
0
0
0
0
0
57,736
145,000
145,000
0
(87,264)
0
(87,264)
0

72,516
0
214,104
71,369
5,950
0
0
1,147
2,314
25
0
911
0
1,378
23,809
0
23,809
0
0
0
0
0
0
51,021
145,000
145,000
0
(93,979)
0
(93,979)
0

67,157
0
214,104
66,010
5,358
0
0
1,147
2,367
27
0
961
0
1,379
23,930
0
23,930
0
0
0
0
0
0
45,594
145,000
145,000
0
(99,406)
0
(99,406)
0

62,331
0
214,104
61,184
4,827
0
0
1,147
62
26
0
0
0
36
20,981
0
20,981
0
0
0
0
0
0
41,412
145,000
145,000
0
(103,588)
0
(103,588)
0

57,982
0
214,104
56,835
4,348
0
0
1,147
53
16
0
0
0
37
20,308
0
20,308
0
0
0
0
0
0
37,727
145,000
145,000
0
(107,273)
0
(107,273)
0

0
0
0
0
0
0
0
29,225
0
29,225
360
0
0
(29,225)
0
0
0
446

0
0
0
0
0
0
0
6,746
0
6,746
360
16
0
(6,717)
0
0
0
(15)

0
0
0
1,104
0
1,104
(1,104)
5,014
0
5,014
270
80
0
(5,428)
0
0
0
2

0
0
0
2,406
0
2,406
(2,406)
1,732
0
1,732
0
0
0
(4,138)
36
0
0
(1)

0
0
0
3,006
0
3,006
(3,006)
667
0
667
0
0
0
(3,673)
12
0
0
10

86,961
0
93,631
0

57,736
0
(29,225)
0

51,021
0
(6,717)
0

45,594
0
(5,428)
0

41,412
0
(4,174)
0

37,727
0
(3,685)
0

0.07

0.04

0.04

0.00

0.00

0.00
0.13

0.00
0.10

0.00
0.10

0.00
0.00

0.00
0.00

43,790
43
0
27,519
0
16,228
26,699
0
26,699
0

1.Short term Secured loans


2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)

1.Issued, Subscribed & Paid up capital


i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

2011

C.Current Liabilities (C1+C2)

E.Shareholders Equity (E1+E2+E3)

2010

214,104
69,870
7,341
0

1.Cash & bank balance


2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

1.Long term secured loans


2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

2009

B.Current Assets (B1+B2+B3+B4+B5)

(Thousand Rupees)
2012
2013

2008

0
86,961
145,000
145,000
0
(58,039)

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

114,475
114,475
0
18,499

95,976
1,725

1,725

560

93,691
60
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.03
0.49
24.04
1.01
1.64
16.16
0.31
72.82
98.97
98.61

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

81.84
0.00
6.46
6.00

99

0.41
-29.94
-40.39
-40.39

0.47
-8.59
-12.35
-12.35

0.52
-7.52
-11.24
-11.24

0.51
-6.27
-9.51
-9.51

0.54
-6.10
-9.28
-9.28

0.02
-2.02
3.98

0.00
-0.46
3.52

0.00
-0.37
3.14

0.00
-0.29
2.86

0.00
-0.25
2.60

Financial Statement Analysis of Non Financial Sector 2013

N.P. Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

234,807

229,536
0
664,066
228,041
24,558
0
0
1,495
396,091
27,250
290,197
32,628
0
46,016
301,933
121,586
180,346
32,519
0
0
0
3,852
28,668
291,175
147,000
147,000
0
144,175
0
144,175
0

229,248
0
668,023
227,753
22,487
0
0
1,495
527,067
7,446
441,494
26,436
0
51,692
348,369
54,958
293,411
34,369
0
0
0
5,695
28,674
373,577
147,000
147,000
0
226,577
0
226,577
0

246,584
1,679
704,615
243,410
24,652
0
0
1,495
696,850
88,641
463,116
76,245
0
68,847
371,149
225,655
145,493
172,065
0
134,000
0
9,314
28,752
400,220
147,000
147,000
0
253,220
0
253,220
0

245,916
0
732,380
244,421
26,882
0
0
1,495
741,500
65,327
550,473
37,870
0
87,830
509,276
350,580
158,696
171,410
0
134,000
0
10,680
26,730
306,730
147,000
147,000
0
159,730
0
159,730
0

367,970
0
884,584
366,475
30,154
0
0
1,495
853,198
61,122
538,608
177,668
0
75,800
598,498
379,113
219,385
296,944
82,726
153,500

1,156,970
1,156,970
0
1,089,125
732,469
356,656
67,846
39,318
384
38,934
102,015
20,684
19,068
10,125
2,427
0
0
113,562

1,630,785
1,630,785
0
1,452,039
1,029,613
422,425
178,747
75,732
16,494
59,238
148,218
8,193
7,198
122,968
39,911
29,400
0
19,228

2,129,405
1,739,714
389,691
1,952,540
1,510,046
442,494
176,865
81,153
21,618
59,535
197,071
12,552
10,770
86,153
29,022
17,640
0
(85,608)

1,792,499
1,281,146
511,353
1,756,286
1,273,230
483,056
36,213
79,971
13,483
66,488
158,372
25,871
23,913
(57,557)
17,925
0
0
(122,520)

2,172,314
2,164,141
8,173
2,028,228
1,477,589
550,639
144,086
78,941
22,175
56,766
165,074
31,845
29,980
40,617
0
0
0
21,945

306,902
0
(2,261)
151,887

323,695
0
7,698
121,586

407,947
0
53,657
54,958

572,285
0
39,491
225,655

478,140
0
(75,482)
350,580

622,670
82,726
40,617
461,839

0.06
1.22
1.15
1.77
1.21
89.69
1.16
11.88
24.07
23.79
0.95
3.23

0.20
1.79
2.82
1.85
1.31
94.14
1.15
1.59
3.43
3.21

0.10
0.50
1.62
2.16
1.51
89.04
1.02
17.80
37.00
33.61
2.83
3.69
18.08
7.54
0.05
5.65
25.41

0.44
0.59
3.58
2.26
1.88
91.69
1.36
10.14
22.27
17.58
3.24
4.60
9.00
4.05
-0.16
3.89
27.23

0.20
1.44
2.11
1.82
1.46
97.98
2.22
-5.96
-16.28
-10.96

0.40
1.47
8.18
1.78
1.43
93.37
2.75
3.68
12.84
7.38

Items

646,907
234,807
24,705
0

411,778
6,599
352,960
13,181
0
39,038
339,683
151,887
187,796
6,972

6,972
299,930
147,000
147,000
0
152,930

10,220
50,498
325,726
147,000
147,000

178,726

178,726

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,141,696
1,141,696
0
1,023,993

117,703
41,705

41,705

13,914

69,489
22,703
49,047
42,000

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

6.09
0.00
3.18
20.40

100

3.99
1.53
0.88
0.34
0.52
19.81

3.26
-1.41
-3.21
-0.18
-5.13
20.87

4.03
2.35
1.87
0.02
2.76
22.16

Financial Statement Analysis of Non Financial Sector 2013

Nadeem Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

484,748

443,858
0
878,644
443,053
46,084
0
0
805
451,943
932
287,024
105,901
7,864
50,222
581,968
479,997
101,971
44,549
9,571
0
0
8,630
26,348
269,284
120,150
120,150
0
149,134
15,575
133,559
0

485,201
9,225
965,171
470,946
50,832
0
0
5,031
727,870
327
362,347
280,631
14,447
70,117
706,861
520,625
186,236
53,051
15,190
0
0
11,421
26,440
453,159
120,150
120,150
0
333,009
15,575
317,434
0

530,221
13,327
1,047,684
509,071
48,395
0
0
7,823
710,209
4,206
395,271
256,104
4,462
50,167
743,383
591,072
152,311
38,886
7,500
0
0
14,538
16,848
458,161
120,150
120,150
0
338,011
15,575
322,436
0

708,505
221,644
1,124,329
479,037
52,092
0
0
7,824
720,434
7,649
546,893
105,374
5,828
54,690
869,867
689,589
180,278
95,633
52,003
0
0
15,640
27,990
463,439
120,150
120,150
0
343,289
15,575
327,714
0

1,136,429
0
1,762,797
1,127,655
58,872
0
0
8,774
1,179,532
14,783
817,964
176,833
8,322
161,630
1,531,673
866,121
665,552
248,150
170,123
0
0
36,634
41,393
536,138
120,150
120,150
0
415,988
15,575
400,413
0

1,628,484
880,168
748,316
1,472,229
992,553
479,676
156,256
50,904
12,880
38,023
99,094
92,856
91,123
11,036
8,082
0
0
231,295

2,629,107
869,130
1,759,977
2,244,275
1,331,541
912,734
384,832
70,762
18,987
51,775
132,649
103,980
94,615
210,995
27,123
24,030
0
50,271

3,668,884
652,988
3,015,896
3,438,715
3,071,975
366,741
230,168
63,698
26,033
37,665
151,474
117,972
109,347
51,632
37,373
0
0
34,672

3,316,502
1,483,643
1,832,859
3,060,033
1,946,325
1,113,708
256,469
79,663
21,364
58,299
154,935
124,960
122,283
53,303
35,120
0
0
80,631

4,322,718
2,375,468
1,947,250
4,007,983
2,746,921
1,261,062
314,735
100,633
26,062
74,571
246,383
101,381
97,141
114,478
32,216
0
0
171,413

339,355
0
(29,495)
633,466

313,833
9,571
2,954
489,569

506,210
15,190
159,842
535,815

497,047
7,500
14,259
598,572

559,072
52,003
18,183
741,592

784,288
170,123
82,262
1,036,244

0.23
5.46
11.42
1.36
0.81
93.51
3.16
-2.23
-8.03
-6.14

0.20
5.70
6.50
1.82
0.78
90.40
2.33
1.11
4.16
3.38

0.42
3.95
10.67
2.17
1.03
85.36
1.68
20.01
58.41
51.46
7.65
7.26
3.23
8.03
0.07
15.30
37.72

0.36
3.22
6.98
2.96
0.96
93.73
1.71
4.21
11.33
10.29

0.14
3.77
3.18
2.32
0.83
92.27
2.08
3.99
11.57
10.09

0.13
2.35
4.09
1.87
0.77
92.72
3.32
6.11
22.91
17.04

Items

869,459
484,748
49,395
0

601,674
871
376,331
168,904
0
55,568
747,067
633,466
113,601
78,152

78,152
261,203
120,150
120,150
0
141,053

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,479,651
948,842
530,809
1,383,614

96,037
35,907

35,907

80,731

(21,950)
7,545
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

3.93

5.67
1.12
0.68
0.37
0.25
22.41

-1.48
0.00
-2.45
21.74

101

9.28
1.47
1.41
0.04
1.19
38.13

6.06
1.44
1.61
0.08
1.51
38.57

5.28
2.18
2.65
0.10
6.85
44.62

Financial Statement Analysis of Non Financial Sector 2013

Nagina Cotton Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

547,022

681,103
4,622
1,278,155
512,635
55,442
0
162,155
1,691
609,035
4,887
338,033
156,798
0
109,318
585,487
477,728
107,758
290,923
156,597
60,000
2,832
17,791
53,704
413,728
187,000
187,000
0
224,895
256,898
(32,003)
1,833

754,338
760
1,370,989
553,831
56,234
0
198,126
1,621
501,502
1,774
403,275
62,142
0
34,312
333,443
159,026
174,417
260,157
203,233
0
2,832
19,546
34,547
662,240
187,000
187,000
0
473,407
256,899
216,508
1,833

685,603
155,337
1,383,012
511,963
56,241
0
16,482
1,821
1,363,984
6,415
559,900
26,835
0
770,834
670,145
486,016
184,129
325,181
291,068
0
0
19,910
14,203
1,054,261
187,000
187,000
0
867,261
253,964
613,296
0

731,814
19,917
1,630,829
694,133
66,696
0
16,111
1,653
1,119,656
61,419
528,067
399,618
0
130,552
283,305
124,474
158,831
296,939
276,268
0
0
14,217
6,454
1,271,226
187,000
187,000
0
1,084,226
253,964
830,262
0

2,158,571
1,249,702
908,868
1,941,715
1,429,330
512,385
216,856
110,083
57,315
52,768
171,199
109,638
103,218
14,651
0
0
0
17,152

2,746,754
606,709
2,140,045
2,259,995
1,729,229
530,766
486,759
160,841
82,676
78,165
238,933
116,311
106,621
262,551
6,129
0
0
357,350

4,596,740
305,830
4,290,910
3,707,995
3,174,067
533,928
888,745
240,689
128,653
112,036
249,368
94,874
80,956
489,530
50,958
93,500
0
424,529

3,674,769
287,343
3,387,426
3,058,136
2,388,552
669,584
616,633
196,893
109,677
87,216
255,899
102,374
85,188
364,032
37,996
93,500
0
655

4,451,553
242,444
4,209,109
3,515,006
2,789,646
725,360
936,547
204,650
121,789
82,861
386,141
77,017
56,379
625,356
26,645
187,000
0
140,045

713,096
0
3,611
322,778

704,651
159,429
14,651
637,157

922,397
206,065
256,422
365,091

1,379,441
291,068
345,072
777,084

1,568,165
276,268
232,536
400,742

2,312,881
480,765
411,711
587,635

0.64
4.62
7.94
1.52
1.35
92.17
1.94
1.05
2.61
1.66

0.28
5.08
7.26
1.67
1.04
89.95
2.12
1.18
3.58
2.07

0.19
4.23
2.26
2.19
1.50
82.28
0.90
20.62
48.80
32.27

0.05
2.06
0.58
2.24
2.04
80.67
0.94
29.62
57.04
42.53
4.69
8.21
7.05
10.65
0.43
23.45
56.38

1.63
2.79
10.87
1.98
3.95
83.22
0.46
18.66
31.31
24.70
3.49
6.96
5.27
9.91
0.00
17.44
67.98

2.41
1.73
18.39
1.68
4.77
78.96
0.49
27.77
40.95
32.23
3.20
6.16
12.09
14.05
0.16
32.02
95.34

Items

1,256,785
547,022
59,553
0

641,087
2,045
282,318
143,312
159,949
53,463
475,013
322,778
152,235
308,776

308,776
404,320
187,000
187,000
0
217,320

1,031,602
192,262
1,755,561
822,265
74,288

15,758
1,317
1,620,999
1,444
722,761
818,842
0
77,952
339,720
106,870
232,850
530,002
480,765

49,237
0
1,782,879
187,000
187,000

1,595,879
253,964
1,341,915

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,805,851
1,290,095
515,756
1,664,484

141,367
77,119

77,119

83,422

12,611
9,000
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

6.40

6.39
1.14
0.68
0.02
0.78
22.12

6.81
3.46
9.56
0.60
13.71
35.41

0.70
0.00
0.19
21.62

102

Financial Statement Analysis of Non Financial Sector 2013

Nazir Cotton Mills Ltd.


2009

2010

2011

99,951

97,871
0
8,701
95,338
3,194
0
0
2,533
25,726
244
1,117
3,248
0
21,117
30,943
19,678
11,265
191,234
191,234
0
0
0
0
(98,580)
230,000
230,000
0
(328,580)
(2,632)
(325,947)
0

91,925
0
8,701
89,542
5,945
0
0
2,383
25,675
184
1,117
3,248
0
21,127
31,408
19,678
11,730
189,190
189,190
0
0
0
0
(102,998)
230,000
230,000
0
(332,998)
(2,633)
(330,364)
0

91,925
0
8,701
89,542
5,945
0
0
2,383
25,675
184
1,117
3,248
0
21,127
31,408
19,678
11,730
189,190
189,190
0
0
0
0
(102,998)
230,000
230,000
0
(332,998)
(2,633)
(330,364)
0

0
0
0
0
0
0
0
7,967
0
7,967
28
3
0
(2,273)
229
0
0
636

0
0
0
0
0
0
0
9,241
0
9,241
43
2
0
(4,102)
315
0
0
1,983

0
0
0
0
0
0
0
9,241
0
9,241
43
2
0
(4,102)
315
0
0
1,983

(35,730)
0
(6,112)
10,000

92,654
191,234
(2,502)
210,912

86,192
189,190
(4,417)
208,868

86,192
189,190
(4,417)
208,868

48,880
155,831
(128,347)
165,831

43,695
155,831
(5,062)
165,831

0.03
2.41
2,886.75
0.00
0.18
93.98
-2.34
-4.66
6.57
22.10

0.11

0.11

0.11

0.18

0.14

0.00
0.83

0.00
0.82

0.00
0.82

0.00
3.88

0.00
2.96

A.Non-Current Assets (A1+A3+A5+A6+A7)


1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

Items

450,918
99,951
3,557
0

29,383
194
1,117
4,792
588
22,692
165,064
10,000
155,064
60,532

60,532
(96,262)
230,000
230,000
0
(326,262)

759

657

16,050
759
7,819

16,050
657
103

64,836
194
0
2,828
0
61,814
16,715
10,000
6,715
288,950
155,831
133,119
0
0
0
(240,070)
230,000
230,000
0
(470,070)
(3,111)
(466,959)

64,991
292
0
2,828
0
61,871
21,953
10,000
11,953
288,826
155,831
132,995
0
0
0
(245,131)
230,000
230,000
0
(475,131)
(3,111)
(472,020)

0
0
0
0
0
0
0
139,464

0
0
0
0
0
0
0
3,838

F.Operation:
166
166
0
156

1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

10
7,119

7,119

(6,112)
0
0
0

139,464
1,755
7,929
1
(128,347)

3,838
2,477
4,866
0
(5,062)

(49,478)

222

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-2.14
-3.40
4.07
-4.59

-2.14
-3.49
3.98
-4.76

-1.27
-140.12
74.82
-190.04

-1.27
-7.71
2.09
-10.94

0.15

0.00

0.00

0.00

-128,346.00

0.00
-0.11
-4.29

0.01
-0.19
-4.48

0.01
-0.19
-4.48

-0.16
-5.58
-10.44

0.00
-0.22
-10.66

-3,681.93
0.00
-0.27
-4.19

103

-2.25
-1.80
2.33
-7.99

Financial Statement Analysis of Non Financial Sector 2013

Nishat (Chunian) Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

6,259,570

15,149,988
9,162,762
1,319
5,981,577
518,566
923
0
4,726
4,659,457
34,179
2,183,104
1,516,729
0
925,446
6,051,867
5,179,786
872,081
10,297,942
10,296,390
0
0
0
1,552
3,459,636
1,240,814
827,209
413,605
2,218,822
361,894
1,856,928
0

8,234,930
371,397
10,145,237
5,593,337
517,467
5,520
1,873,469
391,207
6,073,156
90,775
3,254,665
1,518,725
0
1,208,992
7,089,429
6,210,664
878,765
2,729,939
2,729,939
0
0
0
0
4,488,718
1,654,418
1,585,527
68,892
2,834,299
0
2,834,299
0

8,162,183
58,917
11,054,619
6,152,148
535,930
3,965
1,942,768
4,385
8,068,112
135,023
4,513,059
2,144,644
0
1,275,386
7,191,922
6,107,677
1,084,245
3,333,933
2,927,683
0
406,250
0
0
5,704,440
1,654,418
1,620,903
33,515
4,050,023
0
4,050,023
0

7,958,060
101,500
11,401,532
5,972,783
549,059
2,266
1,875,858
5,653
9,724,895
47,997
4,010,713
3,027,856
32,495
2,605,834
7,622,371
6,372,853
1,249,518
3,985,590
3,579,340
0
406,250
0
0
6,074,994
1,654,418
1,654,418
0
4,420,576
0
4,420,576
0

9,527,913
1,648,295
11,932,641
5,986,747
522,985
566
1,886,681
5,624
12,396,935
259,238
5,639,884
3,904,387
82,162
2,511,264
9,703,454
8,114,183
1,589,271
4,201,123
3,919,873
0
281,250
0
0
8,020,271
1,819,860
1,819,860
0
6,200,411
0
6,200,411
0

9,964,545
3,676,118
6,288,427
8,473,362
8,150,919
322,443
1,491,183
416,081
291,799
124,282
721,655
1,081,536
1,026,191
166,800
65,000
0
0
683,851

13,343,540
3,368,769
9,974,771
10,661,333
7,976,987
2,684,346
2,682,207
631,908
438,361
193,547
860,883
1,101,054
1,037,505
1,135,616
137,517
0
0
629,970

20,322,002
6,459,868
13,862,134
16,913,477
13,041,634
3,871,843
3,408,524
866,966
599,586
267,380
998,148
1,482,399
1,410,149
1,662,789
208,513
324,181
0
(349,434)

18,616,943
5,645,639
12,971,304
16,540,145
11,505,963
5,034,182
2,076,798
685,999
499,834
186,165
1,103,990
1,353,445
1,296,299
893,974
194,642
330,884
165,442
298,230

21,213,244
5,630,598
15,582,646
17,617,677
12,319,615
5,298,062
3,595,567
821,778
535,143
286,635
1,462,067
1,243,262
1,171,251
2,530,921
254,760
363,972
181,986
(1,186,723)

5,191,223
0
4,020
3,190,716

13,757,578
10,296,390
101,800
15,476,175

7,218,656
2,729,939
998,099
8,940,603

9,038,373
3,333,933
1,130,094
9,441,610

10,060,584
3,985,590
368,448
10,358,443

12,221,394
4,201,123
1,912,189
12,315,306

0.06
7.72
1.47
0.84
0.81
88.61
3.17
0.75
2.90
1.41
1.27
3.73

0.26
10.85
15.22
0.50
0.77
85.04
4.73
1.09
5.51
1.76

0.23
8.25
11.38
0.93
0.86
79.90
2.19
6.66
28.57
10.83

0.41
7.27
16.26
1.05
1.28
88.84
1.91
5.27
15.18
9.36
2.11
4.64
1.69
4.80
0.03
4.23
36.72

0.44
5.86
18.41
0.97
1.28
83.05
1.73
12.78
35.91
22.72
6.25
3.76
3.16
11.93
-0.09
12.51
44.07

Items

9,595,457
6,259,570
626,330
0

4,578,546
18,246
2,447,463
134,338
211,733
1,766,766
5,646,893
3,190,716
2,456,177
2,591,029

2,591,029
2,600,194
752,008
752,008
0
1,848,186

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

9,138,298
3,250,732
5,887,566
8,097,418

1,040,880
315,397

315,397

705,281

76,720
58,000
14,700
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.84
0.00
0.25
34.58

104

4.56
1.16
1.67
0.04
1.23
41.82

4.10
2.09
8.51
0.06
6.30
28.31

0.32
7.29
10.55
1.25
1.12
83.23
1.85
10.89
32.63
20.46
4.49
4.50
2.18
8.18
-0.03
8.97
35.19

Financial Statement Analysis of Non Financial Sector 2013

Nishat Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

11,470,608

23,217,848
97,280
19,436,889
11,102,355
1,116,931
0
11,993,998
24,215
8,294,838
111,494
4,092,512
1,300,366
1,414,310
1,376,156
9,602,265
7,775,913
1,826,352
2,579,654
2,334,411
0
0
0
245,243
19,330,767
2,424,827
2,424,827
0
16,905,940
2,627,004
14,278,936
0

34,449,386
365,662
20,681,208
11,476,005
1,099,682
0
22,092,093
515,626
11,732,928
110,585
6,060,441
2,041,256
1,554,543
1,966,103
10,568,415
7,778,079
2,790,336
4,237,586
2,980,694
0
0
0
1,256,892
31,376,313
3,515,999
3,515,999
0
27,860,314
11,150,882
16,709,432
0

35,646,945
923,020
22,303,120
12,380,494
1,168,369
0
21,464,723
878,708
18,441,959
1,132,701
9,846,680
2,481,259
1,781,471
3,199,848
15,322,349
11,755,550
3,566,799
3,372,596
2,659,328
0
0
0
713,268
35,393,959
3,515,999
3,515,999
0
31,877,960
11,203,616
20,674,344
0

36,778,712
1,821,270
23,524,056
12,497,369
1,254,041
0
22,154,759
305,314
19,847,671
2,358,556
9,695,133
3,489,070
1,589,093
2,715,819
15,126,751
10,772,751
4,354,000
3,736,883
3,426,578
0
0
0
310,305
37,762,749
3,515,999
3,515,999
0
34,246,750
11,204,118
23,042,632
0

53,430,034
1,221,957
26,317,975
14,308,363
1,351,369
0
37,772,969
126,745
27,204,560
1,128,862
10,945,439
6,243,535
4,362,880
4,523,844
18,068,412
13,249,797
4,818,615
3,649,147
3,149,732
0
0
0
499,415
58,917,035
3,515,999
3,515,999
0
55,401,036
27,742,150
27,658,886
0

23,870,379
5,236,221
18,634,158
19,518,838
5,919,709
13,599,129
4,351,541
1,942,250
1,315,630
626,620
2,170,493
1,446,796
1,240,197
1,561,501
293,500
484,965
0
2,138,364

31,535,647
7,607,220
23,928,427
25,555,462
7,208,294
18,347,168
5,980,185
2,548,844
1,714,598
834,246
2,631,808
1,126,922
957,399
3,286,069
400,608
879,000
0
988,193

48,565,144
12,400,936
36,164,208
40,718,697
14,560,881
26,157,816
7,846,447
3,278,472
2,190,496
1,087,976
3,240,615
1,601,048
1,393,480
5,411,912
568,000
1,160,280
0
260,523

44,924,101
10,429,592
34,494,509
38,134,910
9,521,329
28,613,581
6,789,191
3,630,766
2,555,327
1,075,439
3,399,292
1,760,543
1,536,586
4,081,567
553,000
1,230,600
0
2,760,542

52,426,030
13,122,201
39,303,829
43,381,545
29,661,160
13,720,385
9,044,485
3,809,153
2,529,455
1,279,698
4,250,140
1,617,581
1,424,381
6,356,853
510,000
1,406,400
0
491,795

27,813,982
0
5,458,123
10,367,499

21,910,421
2,334,411
783,036
10,110,324

35,613,899
2,980,694
2,006,461
10,758,773

38,766,555
2,659,328
3,683,632
14,414,878

41,499,632
3,426,578
2,297,967
14,199,329

62,566,182
3,149,732
4,440,453
16,399,529

1.87
4.85
7.08
0.49
2.31
85.65
0.52
15.36
21.68
20.55
14.66
4.71

0.29
6.06
5.45
0.76
0.86
81.77
0.63
4.35
6.82
6.28
2.61
5.83
2.26
6.54
0.18
5.23
79.72

0.35
3.57
6.47
0.68
1.11
81.04
0.47
8.46
12.96
11.42
3.28
5.20
4.43
10.42
0.07
8.21
89.24

0.35
3.30
5.11
0.90
1.20
83.84
0.53
10.79
16.21
14.55
4.17
4.93
4.88
11.14
0.01
13.78
100.67

0.49
3.92
7.77
0.79
1.31
84.89
0.50
7.37
11.16
10.17
2.87
4.63
3.66
9.09
0.15
10.04
107.40

0.65
3.09
11.91
0.65
1.51
82.75
0.37
9.26
13.15
12.22
4.16
4.79
5.46
12.13
0.02
16.63
167.57

Items

18,767,115
11,470,608
1,071,665
0

28,806,681
76,549
4,163,194
1,387,146
21,825,276
1,354,516
12,463,307
10,367,499
2,095,808
1,321,912

1,321,912
26,492,070
1,597,857
1,597,857
0
24,894,213

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

19,589,804
4,414,325
15,175,479
16,778,058

2,811,746
1,550,535

1,550,535

950,616

6,118,687
261,100
399,464
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

31.23
0.00
36.66
165.80

105

Financial Statement Analysis of Non Financial Sector 2013

Olympia Spinning & Weaving Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,680,317

2,066,254
0
2,105,877
1,999,995
63,543
0
0
66,260
711,327
1,706
415,973
160,448
0
133,200
1,666,160
1,031,007
635,152
343,533
285,621
54,980
0
2,932
0
767,888
120,000
120,000
0
(468,944)
44,666
(513,609)
1,116,832

2,096,227
0
2,305,682
2,087,614
67,449
0
0
8,613
619,833
3,931
203,057
110,579
0
302,266
1,576,923
784,548
792,375
604,851
546,416
54,579
0
3,856
0
534,286
120,000
120,000
0
(692,517)
86,915
(779,432)
1,106,803

2,080,011
19,426
2,332,092
2,054,211
63,806
0
0
6,374
710,156
8,239
208,093
305,589
0
188,235
1,076,667
351,246
725,421
1,129,787
1,064,805
51,515
0
4,589
8,878
583,713
120,000
120,000
0
(633,520)
92,998
(726,518)
1,097,233

2,045,220
0
2,092,213
1,995,497
59,700
0
44,666
5,057
592,266
7,353
231,617
71,023
0
282,273
1,117,514
354,959
762,555
1,083,834
1,022,335
56,430
0
5,069
0
436,138
120,000
120,000
0
(815,735)
44,666
(860,401)
1,131,873

9,390
0
274,822
120,000
120,000
0
(965,151)
0
(965,151)
1,119,973

2,352,987
1,076,997
1,275,990
2,569,528
2,024,523
545,005
(216,541)
84,939
51,322
33,617
159,692
172,932
142,449
(470,215)
12,407
0
0
(270,726)

2,729,551
742,506
1,987,045
2,567,153
2,096,927
470,226
162,398
86,429
40,123
46,306
171,609
193,978
156,264
(114,675)
27,192
0
0
55,221

4,298,252
536,735
3,761,517
3,906,190
3,114,351
791,839
392,062
104,202
48,443
55,759
170,262
196,098
151,138
96,105
37,356
0
0
(37,154)

2,278,470
866,779
1,411,691
2,139,174
1,678,161
461,013
139,296
72,748
22,286
50,462
120,005
162,368
135,731
(87,527)
21,938
0
0
88,180

2,634,363
572,657
2,061,706
2,440,814
1,907,111
533,703
193,549
156,173
32,269
123,904
145,519
148,677
115,348
(85,706)
23,454
0
0
37,548

1,377,281
0
(14,527)
526,862

1,111,421
285,621
(482,622)
1,316,628

1,139,137
546,416
(141,867)
1,330,964

1,713,500
1,064,805
58,749
1,416,051

1,519,972
1,022,335
(109,465)
1,377,294

1,428,601
1,120,690
(109,160)
1,392,867

0.17
5.11
4.81
1.13
0.72
92.05
1.63
-0.01
-0.03
-0.02

0.10
7.35
6.82
0.85
0.43
109.20
2.62
-17.98
-55.30
-37.79

0.07
7.11
4.05
1.00
0.39
94.05
4.08
-4.17
-17.61
-10.19

0.07
7.13
3.12
0.86
0.53
93.89
5.05
-3.23
-17.16
-5.41

0.06
5.64
2.27
1.05
0.51
92.65
8.15
-3.33
-24.11
-5.81

Items

2,218,754
1,680,317
60,080
0

771,373
2,160
408,813
133,372
44,666
182,362
1,074,409
526,862
547,547
444,497

444,497
932,784
120,000
120,000
0
812,784

1,959,626
2,584
2,110,516
1,953,635
61,319
0
0
3,407
555,362
5,289
253,966
59,912
0
236,195
1,086,387
272,177
814,210
1,153,779
1,120,690
23,699

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,773,016
1,365,178
1,407,838
2,552,674

220,342
82,591

82,591

141,572

(243)
14,284
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

6.78

5.66
-2.30
-19.98
-0.13
-40.22
63.99

13.44
0.27
-4.20
0.03
-11.82
44.52

20.66
1.64
2.24
-0.02
4.90
48.64

9.84
0.36
-3.84
0.04
-9.12
36.34

10.37
0.26
-3.25
0.02
-9.10
22.90

-0.01
0.00
-1.21
77.73

106

0.29
4.56
7.11
1.54
0.66
90.88
3.78
3.49
17.19
6.74

Financial Statement Analysis of Non Financial Sector 2013

Olympia Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

168,666

121,448
0
518,567
117,879
14,747
0
0
3,569
53,203
613
5,660
2,918
0
44,012
31,532
9,432
22,100
233,685
0
233,685
0
0
0
(90,566)
108,040
108,040
0
(198,606)
0
(198,606)
0

89,285
0
462,687
87,294
8,411
0
0
1,991
46,010
564
0
2,918
0
42,528
12,443
0
12,443
234,158
0
234,158
0
0
0
(111,306)
108,040
108,040
0
(219,346)
0
(219,346)
0

83,636
1,110
459,636
80,535
7,724
0
0
1,991
23,633
1,563
0
2,918
0
19,152
12,040
0
12,040
223,337
0
222,937
0
0
400
(128,108)
108,040
108,040
0
(236,148)
0
(236,148)
0

75,540
1,110
459,118
72,439
6,614
0
0
1,991
19,294
398
0
0
0
18,896
15,761
0
15,761
241,230
0
224,015
0
600
16,615
(162,157)
108,040
108,040
0
(270,197)
0
(270,197)

245,373
245,373
0
280,812
212,252
68,560
(35,440)
12,074
106
11,968
17,017
6,801
4,851
(54,124)
0
0
0
(72,679)

5,660
5,660
0
15,699
5,660
10,039
(10,039)
10,157
0
10,157
1,773
870
196
(20,740)
0
0
0
(14,956)

0
0
0
8,405
0
8,405
(8,405)
7,448
0
7,448
945
778
0
(16,601)
0
0
0
14,295

0
0
0
7,517
0
7,517
(7,517)
9,773
0
9,773
3,562
962
0
(17,434)
0
0
0
(3,793)

62,499
40,307
22,192
(951)
14,218
82
14,136
16,467
1,218
0
(11,914)
(311)
0
0
(63,383)

(27,474)
0
(37,309)
13,410

143,119
0
(54,124)
9,432

122,852
0
(20,740)
0

95,229
0
(16,601)
0

79,073
0
(17,434)
0

606,138
0
(11,603)
0

0.15
0.95
6.60
2.28
0.36
102.20
-8.43
-11.07
194.17
-40.00

0.11
2.77
1.19
1.40
1.69
114.44
-2.93
-23.82
84.42
-93.60

0.28
15.36
51.55
0.04
3.70
277.36
-2.22
-13.38
20.55
-15.60

0.37

0.03

0.00
1.96

0.00
1.22

0.75
1.98
0.00
0.10
3.41
101.55
4.52
-3.22
52.45
-3.48

49.79

43.35
-10.16
-22.06
-0.27
-5.01
-8.38

Items

518,567
168,666
17,380
0

111,220
5,456
12,824
42,137
0
50,803
307,360
13,410
293,950
10,180

10,180
(37,654)
108,040
108,040
0
(145,694)

514,775
43,238
862,687
467,833
8,174
513
0
3,191
129,283
28,283
72,859

28,141
37,920
0
37,920
489,408
0
364,934

1,204
123,270
116,730
108,040
108,040

(279,958)

(279,958)
288,648

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

638,551
638,551
0
652,613

(14,062)
14,366

14,366

6,035

(34,115)
3,194
0
0

61,548
61,548

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

-5.34
0.00
-3.45
-3.49

107

-104.82
-366.43
-0.06
-1.92
-10.30

-1.84
-13.69
13.87
-15.22

-1.58
-17.25
12.01
-20.00

0.06
-1.54
-11.86

-0.01
-1.61
-15.01

0.84

-19.36
-0.12
-1.07
10.80

Financial Statement Analysis of Non Financial Sector 2013

Paramount Spinning Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

781,892

1,203,979
945
1,384,620
759,398
43,048
0
436,488
7,149
1,746,719
60,141
1,259,506
274,452
2,145
150,475
1,810,199
1,484,039
326,160
352,496
108,650
175,000
0
30,592
38,254
788,003
143,408
143,408
0
574,425
15,400
559,025
70,171

1,218,437
3,266
1,423,359
760,143
42,279
0
448,247
6,781
1,966,189
61,649
1,329,317
353,170
0
222,052
1,948,177
1,533,409
414,768
340,409
85,058
175,000
0
38,869
41,482
896,040
157,748
157,748
0
668,121
15,400
652,721
70,171

1,335,464
4,391
1,538,120
830,911
43,993
0
493,084
7,078
2,285,572
68,220
1,665,286
286,028
0
266,038
2,033,146
1,566,093
467,053
517,490
259,354
175,000
0
47,614
35,522
1,070,400
173,523
173,523
0
807,701
15,400
792,301
89,176

3,048,440
1,185
2,644,143
2,557,894
46,343
0
485,877
3,484
1,398,634
15,213
827,462
280,098
0
275,861
3,130,809
1,806,926
1,323,883
226,324
0
175,000
0
51,324
0
1,089,941
173,523
173,523
0
(1,939,859)
15,400
(1,955,259)
2,856,277

2,470,518
0
2,546,630
2,410,719
56,644
0
55,067
4,732
1,138,218
12,834
685,540
163,189
0
276,655
3,078,371
1,905,777
1,172,594
370,668
0
175,000
0
58,119
137,549
159,697
173,523
173,523
0
(2,323,442)
15,400
(2,338,842)
2,309,616

2,811,466
1,061,497
1,749,969
2,363,110
1,578,134
784,976
448,357
167,744
104,537
63,207
276,399
264,120
257,296
35,371
17,429
0
14,341
(80,270)

3,117,790
948,225
2,169,564
2,569,057
1,942,153
626,904
548,733
175,745
106,968
68,777
318,184
250,718
242,963
125,992
25,729
15,775
15,775
17,331

4,992,391
1,159,182
3,833,210
4,307,996
3,304,070
1,003,926
684,395
242,393
155,833
86,560
448,276
280,440
269,142
193,275
32,599
26,028
0
(76,026)

3,844,878
645,242
3,199,636
5,000,497
3,589,587
1,410,910
(1,155,619)
334,072
169,241
164,831
507,902
266,252
254,919
(2,726,622)
38,449
0
0
(36,441)

2,531,007
752,602
1,778,405
2,667,947
1,768,668
899,279
(136,940)
180,095
101,269
78,826
519,299
58,949
52,393
(455,215)
18,682
0
0
(442,229)

986,664
0
59,294
1,158,306

1,140,499
108,650
17,942
1,592,689

1,236,449
85,058
84,488
1,618,467

1,587,889
259,354
134,648
1,825,447

1,316,265
0
(2,765,071)
1,806,926

530,365
0
(473,897)
1,905,777

0.39
7.14
9.33
0.89
1.11
86.12
2.80
2.79
9.98
7.65

0.19
9.39
9.76
0.95
0.96
84.05
2.74
1.22
4.59
3.33

0.17
5.62
5.73
1.38
1.12
86.29
2.38
5.68
19.66
13.69
6.17
3.00
1.72
3.87
-0.03
9.26
61.69

0.09
6.92
7.28
0.86
0.45
130.06
3.08
-67.59
-252.43
-187.77

0.06
2.33
6.45
0.70
0.37
105.41
21.60
-11.30
-72.86
-49.30

Items

1,336,127
781,892
43,345
0

2,080,182
74,635
1,192,148
237,834
420,819
154,746
1,875,410
1,158,306
717,104
233,509

233,509
753,155
133,403
133,403
0
619,752

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,549,115
1,091,634
1,457,481
2,195,240

353,875
136,110

136,110

181,908

73,880
14,586
0
12,127

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.14

2.23
1.14
1.26
-0.04
1.25
54.95

2.90
0.00
4.44
56.46

108

0.21
8.04
11.33
0.98
1.01
82.40
2.55
4.11
14.96
10.60
6.36
2.35
1.52
4.04
0.01
6.36
56.80

4.65
-9.70
-70.92
-0.01
-159.35
62.81

3.69
-7.69
-17.99
-0.13
-27.31
9.20

Financial Statement Analysis of Non Financial Sector 2013

Premium Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

637,081

587,527
0
1,074,008
586,675
61,537
0
0
852
821,259
2,220
323,290
444,457
0
51,292
856,671
764,765
91,906
331,320
248,184
40,000
0
4,689
38,447
220,795
61,630
61,630
0
145,222
0
145,222
13,944

572,825
0
1,107,677
571,982
60,481
0
0
843
884,470
5,898
303,337
528,177
0
47,058
824,564
672,269
152,295
225,010
105,000
40,000
0
6,368
73,642
407,721
61,630
61,630
0
333,678
0
333,678
12,413

641,662
0
1,187,783
640,470
61,149
0
0
1,192
1,224,047
2,241
696,458
461,423
0
63,925
1,137,324
982,677
154,646
108,759
0
40,000
0
6,027
62,731
619,626
61,630
61,630
0
546,948
0
546,948
11,047

725,637
72,865
1,283,388
649,756
69,430
0
1,825
1,191
1,075,782
3,071
651,254
354,972
0
66,485
910,245
741,559
168,686
111,286
0
40,000
0
6,933
64,353
779,888
61,630
61,630
0
708,428
0
708,428
9,830

1,461,887
373,698
1,802,354
1,085,033
86,960
0
1,965
1,191
2,633,227
4,806
1,678,027
812,551
0
137,843
2,777,346
2,492,369
284,977
81,658
0
40,000
0
4,873
36,785
1,236,110
61,630
61,630
0
1,165,633
0
1,165,633
8,847

2,113,500
2,093,782
19,718
1,899,248
1,560,082
339,166
214,252
41,100
16,401
24,699
140,150
172,330
166,055
2,276
336
4,622
0
321,066

3,209,472
3,042,192
167,280
2,706,750
1,987,087
719,663
502,722
79,495
27,000
52,495
159,865
162,474
151,900
265,435
38,692
30,815
0
473,795

4,645,118
341,001
4,304,117
4,088,940
3,585,961
502,979
556,178
103,572
44,599
58,973
182,220
180,023
168,031
278,969
47,161
33,897
0
(51,260)

4,136,399
1,680,196
2,456,203
3,677,932
2,923,843
754,089
458,467
101,949
41,230
60,719
195,359
131,068
120,615
239,697
43,916
36,978
0
423,705

4,932,271
580,838
4,351,433
4,124,263
3,418,183
706,080
808,008
155,219
65,115
90,104
280,137
164,588
146,923
508,446
42,814
77,038
0
(892,452)

508,564
0
6,763
825,585

552,116
248,184
(2,683)
1,012,949

632,731
105,000
195,928
777,269

728,384
0
197,912
982,677

891,174
0
158,803
741,559

1,317,768
0
388,595
2,492,369

0.47
6.64
25.03
1.24
0.88
89.78
5.91
1.64
10.35
4.84
2.10
5.54

0.52
8.15
21.03
1.50
0.96
89.86
5.38
0.15
1.02
0.43
0.42
6.54
1.01
0.11
0.27
0.31
35.83

0.65
5.06
16.46
2.20
1.07
84.34
2.57
18.52
84.46
44.81
7.36
10.58
2.75
8.27
0.45
36.79
66.16

0.41
3.88
9.93
2.49
1.08
88.03
2.01
16.79
54.31
40.99
6.84
6.67
2.66
6.01
-0.04
37.61
100.54

0.39
3.17
8.58
2.30
1.18
88.92
1.31
13.07
34.25
29.60
5.29
6.35
2.99
5.79
0.41
31.77
126.54

0.29
3.34
16.47
1.20
0.95
83.62
2.31
17.25
50.44
46.04
6.04
2.94
4.46
10.31
-0.31
75.55
200.57

Items

1,028,793
637,081
64,877
0

911,145
2,806
347,564
481,520
0
79,255
1,039,662
825,585
214,077
284,450

284,450
224,114
61,630
61,630
0
162,484

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,923,939
1,897,361
26,578
1,727,232

196,707
39,839

39,839

127,659

22,913
9,987
6,163
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

1.19
0.00
2.10
36.36

109

Financial Statement Analysis of Non Financial Sector 2013

Prosperity Weaving Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

1,021,502

925,766
0
1,859,395
925,209
98,762
0
0
557
622,035
6,335
154,236
159,256
0
302,207
387,065
197,242
189,823
749,097
645,345
90,000
0
4,441
9,312
411,639
184,800
184,800
0
189,656
16,600
173,056
37,183

844,624
0
1,863,250
844,400
90,027
0
0
225
669,145
80,171
409,863
103,188
0
75,923
501,819
294,786
207,033
509,950
382,623
90,000
0
4,220
33,108
502,000
184,800
184,800
0
280,017
16,600
263,417
37,183

873,044
18,572
1,954,451
854,247
84,937
0
0
225
702,932
404
359,067
231,375
10,054
102,031
495,048
286,466
208,583
495,762
430,796
0
0
24,474
40,491
585,166
184,800
184,800
0
363,183
16,600
346,583
37,183

876,475
51,542
1,992,506
809,717
84,570
0
0
15,216
775,079
56,129
342,948
273,319
79
102,604
737,763
562,924
174,839
315,781
251,000
0
0
28,903
35,878
598,010
184,800
184,800
0
376,027
16,600
359,427
37,183

841,363
107
2,086,267
826,218
83,555
0
0
15,038
932,195
67,455
462,049
250,831
0
151,860
602,277
388,321
213,956
276,898
214,100
0
0
39,000
23,798
894,383
184,800
184,800
0
672,400
16,600
655,800
37,183

3,634,559
1,063,804
2,570,755
3,265,698
2,336,774
928,924
368,861
132,758
86,163
46,595
150,713
134,405
124,806
108,119
18,866
36,960
0
389,925

4,070,195
2,383,983
1,686,212
3,670,926
2,949,006
721,920
399,270
123,004
71,340
51,664
164,989
116,550
106,782
176,389
25,271
55,440
0
47,517

5,952,133
2,675,020
3,277,113
5,468,594
4,578,102
890,492
483,539
168,542
111,451
57,091
217,956
118,402
105,919
201,098
57,896
64,680
0
143,741

5,382,234
1,596,922
3,785,312
5,007,540
4,083,995
923,545
374,694
163,329
102,193
61,136
201,300
107,068
92,702
108,169
54,150
46,200
0
97,511

6,600,175
1,125,975
5,474,200
5,933,643
5,123,701
809,942
666,532
189,875
104,518
85,357
269,469
82,942
66,571
395,472
65,382
110,880
0
315,368

1,088,966
0
(67,897)
96,555

1,160,736
645,345
52,294
842,587

1,011,950
382,623
95,677
677,409

1,080,927
430,796
78,522
717,262

913,791
251,000
7,819
813,924

1,171,281
214,100
219,210
602,421

0.33
3.58
5.33
1.76
1.14
95.07
3.66
-3.45
-14.74
-5.23

0.43
3.70
4.38
2.35
1.61
89.85
2.76
6.96
28.99
9.61
2.41
23.56
1.87
2.97
0.34
4.83
22.27

0.37
2.86
2.54
2.69
1.33
90.19
2.02
11.52
38.61
16.24
2.73
9.93
2.65
4.33
0.05
8.18
27.16

0.49
1.99
3.89
3.78
1.42
91.88
1.69
13.02
36.99
19.22
2.21
16.58
2.90
3.38
0.15
7.75
31.66

0.45
1.99
5.08
3.26
1.05
93.04
1.76
6.70
18.28
10.85
1.17
15.69
2.17
2.01
0.09
2.92
32.36

0.53
1.26
3.80
3.72
1.55
89.90
0.98
23.09
53.00
37.93
2.98
14.28
6.94
5.99
0.36
17.86
48.40

Items

1,859,778
1,021,502
106,898
0

535,777
8,998
296,829
145,830
0
84,120
468,313
96,555
371,758
754,703

754,703
334,263
184,800
184,800
0
149,463

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

2,737,590
1,379,104
1,358,486
2,602,563

135,027
97,900

97,900

97,926

(54,021)
13,876
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

9.22

-1.97
0.00
-3.67
18.09

110

Financial Statement Analysis of Non Financial Sector 2013

Quality Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

507,940

555,658
6,815
948,451
546,678
42,950
0
0
2,165
389,422
1,920
180,477
178,363
0
28,663
385,648
340,254
45,395
172,682
35,400
0
0
67,220
70,062
386,750
159,778
159,778
0
82,585
0
82,585
144,387

600,393
0
1,031,834
598,228
43,458
0
0
2,165
378,775
1,148
175,931
155,567
0
46,129
359,382
210,693
148,689
102,006
11,800
0
0
82,804
7,402
517,780
159,778
159,778
0
165,107
0
165,107
192,896

691,367
11,306
1,155,345
677,895
49,414
0
0
2,165
566,953
2,052
257,885
248,792
0
58,223
449,032
271,597
177,436
96,444
0
0
0
9,265
87,179
712,844
159,778
159,778
0
367,240
0
367,240
185,826

793,433
0
1,323,365
791,268
65,756
0
0
2,165
807,552
1,513
442,069
308,502
0
55,468
737,683
599,947
137,736
105,517
0
0
0
12,895
92,622
757,785
159,778
159,778
0
369,854
0
369,854
228,153

858,985
12,165
1,428,138
844,655
66,775
0
0
2,165
604,378
3,939
312,041
196,129
0
92,269
437,077
273,240
163,837
110,516
0
0
0
16,917
93,599
915,770
159,778
159,778
0
534,150
0
534,150
221,842

1,220,867
932,960
287,907
1,106,377
835,613
270,764
114,490
34,783
18,310
16,473
67,476
70,020
67,441
10,878
2,349
0
0
29,787

1,584,088
1,048,737
535,351
1,335,517
1,082,662
252,855
248,571
66,479
29,779
36,701
91,845
65,933
61,119
116,712
25,834
23,967
0
175,450

2,531,351
1,380,021
1,151,329
2,144,065
1,920,362
223,704
387,285
59,581
27,389
32,192
109,415
95,419
9,265
243,654
43,432
55,922
0
98,839

2,075,429
1,335,632
739,797
1,863,192
1,372,077
491,115
212,237
56,654
30,714
25,940
99,499
74,127
64,280
86,192
20,355
23,967
0
(79,615)

2,557,194
1,807,432
749,762
2,244,980
1,611,261
633,719
312,214
64,795
29,590
35,205
140,256
54,826
47,848
196,225
28,677
31,956
0
466,959

504,376
0
16,331
293,851

559,432
35,400
8,529
375,654

619,786
11,800
66,912
222,493

809,288
0
144,300
271,597

863,302
0
41,870
599,947

1,026,286
0
135,592
273,240

0.27
5.43
10.03
1.15
0.99
90.80
1.31
2.46
5.53
4.37

0.47
5.74
14.61
1.29
1.01
90.62
1.44
1.18
2.81
2.05

0.44
4.16
9.82
1.62
1.05
84.31
0.89
12.13
25.81
19.79
3.79
9.00
2.91
7.37
0.38
5.69
32.41

0.56
3.77
9.83
2.01
1.26
84.70
0.77
21.78
39.60
34.10
3.58
9.82
27.30
9.63
0.18
12.53
44.61

0.42
3.57
14.86
1.30
1.09
89.77
1.11
6.03
11.72
10.31
2.75
4.69
2.34
4.15
-0.09
4.12
47.43

0.46
2.14
7.67
1.75
1.38
87.79
0.60
12.81
23.45
20.77
5.24
8.20
5.10
7.67
0.85
10.49
57.32

Items

868,069
507,940
41,927
0

390,466
1,005
228,413
103,604
0
57,444
394,030
293,851
100,179
115,619

115,619
388,757
159,778
159,778
0
228,979

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

1,032,951
853,269
179,682
937,957

94,994
20,587

20,587

56,054

21,545
5,214
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

4.52

6.76
1.16
0.89
0.05
0.53
24.21

2.09
0.00
1.02
24.33

111

Financial Statement Analysis of Non Financial Sector 2013

Quetta Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

4,119,622

5,054,660
117,383
7,294,131
4,871,288
211,072
0
48,486
17,504
3,857,386
3,113
2,229,194
886,019
0
739,060
4,408,999
4,107,244
301,754
3,226,916
2,123,703
773,162
0
59,491
270,561
1,276,131
31,250
31,250
0
458,943
0
458,943
785,938

4,955,743
136,121
7,431,304
4,775,130
233,820
0
26,988
17,504
3,552,358
3,219
2,269,204
524,062
0
755,874
4,069,031
3,684,405
384,626
2,138,781
1,743,355
23,900
0
67,762
303,764
2,300,289
130,000
130,000
0
1,406,725
651,750
754,975
763,564

5,162,838
43,041
7,980,350
5,090,267
234,534
0
2,787
26,744
4,483,902
24,662
294,778
658,398
0
3,506,064
4,551,383
4,011,369
540,014
2,160,221
442,219
78,776
1,177,250
87,415
374,561
2,935,136
130,000
130,000
0
2,062,120
766,424
1,295,695
743,016

5,126,910
24,058
8,189,391
5,057,444
243,257
0
0
45,408
4,426,787
8,409
3,254,744
335,898
0
827,736
4,855,243
3,989,841
865,402
1,735,795
206,511
52,900
923,333
77,735
475,316
2,962,659
130,000
130,000
0
2,108,690
766,751
1,341,939
723,969

5,097,275
78,348
8,350,385
4,978,446
242,747
0
0
40,481
4,402,189
37,974
3,139,023
415,052
0
810,140
4,702,128
3,851,184
850,944
1,665,964
136,169
148,457
879,147
104,110
398,081
3,131,372
130,000
130,000
0
2,294,933
651,751
1,643,182
706,439

7,514,899
3,629,194
3,885,705
6,177,193
4,307,017
1,870,177
1,337,706
462,119
314,175
147,944
531,160
830,513
822,916
98,968
37,317
0
0
(400,422)

9,334,112
4,622,449
4,711,662
7,626,141
5,515,387
2,110,754
1,707,971
392,674
286,765
105,909
619,024
962,309
955,825
375,592
75,307
26,000
0
833,903

14,343,553
7,660,756
6,682,798
12,049,964
9,849,834
2,200,129
2,293,590
547,576
389,770
157,807
746,685
978,217
966,160
773,468
107,811
19,500
0
157,154

11,141,097
4,842,464
6,298,633
9,670,029
6,703,784
2,966,245
1,471,068
424,713
375,466
49,247
401,620
893,507
883,519
157,550
98,666
0
0
638,468

12,967,979
5,968,725
6,999,254
11,528,549
8,514,717
3,013,832
1,439,430
453,621
389,561
64,060
903,334
725,308
715,328
267,252
87,207
19,500
0
487,709

4,503,047
2,123,703
61,651
6,230,947

4,439,070
1,743,355
274,285
5,427,760

5,095,356
1,619,469
646,157
5,630,838

4,698,454
1,129,844
58,884
5,119,685

4,797,336
1,015,316
160,545
4,866,500

0.13
10.31
5.61
1.10
0.87
81.70
2.70
4.31
21.00
8.40
11.55
4.11
1.39
4.02
0.13
23.10
176.95

0.15
6.82
4.59
1.49
0.99
84.01
2.29
8.52
29.55
16.22
34.14
48.66
1.80
5.39
0.02
51.20
225.78

Items

6,184,240
4,119,622
178,496
0

3,393,615
2,855
2,074,552
555,620
132,289
628,299
4,647,636
2,735,891
1,911,745
2,451,698

2,451,698
413,903
31,250
31,250
0
382,653

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

6,015,548
2,696,619
3,318,929
5,421,705

593,843
64,002

64,002

495,258

46,556
33,307
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

2,865,601
0
13,249
2,735,891

H.Key Performance Indicators


0.15
8.23
9.24
0.80
0.73
90.13
17.15
0.71
8.12
1.63

1.Acid test or quick ratio[(B1+B3+B4) to C]


2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

2.90

3.37
1.12
1.32
-0.05
19.73
408.36

0.77
0.00
4.24
132.45

112

0.20
11.05
11.79
0.84
0.87
82.20
5.98
1.21
11.71
2.69

0.07
8.02
3.01
1.17
0.91
86.80
2.22
1.64
5.34
3.22

3.42
1.18
1.41
0.10
4.53
227.90

0.10
5.59
3.20
1.37
0.94
88.90
2.03
2.81
8.77
5.63
9.23
4.13
1.37
2.06
0.08
13.85
240.87

Financial Statement Analysis of Non Financial Sector 2013

Ravi Textile Mills Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid up capital
i).Ordinary Shares
ii).Preference shares
2.Reserves
i).Capital Reserve
ii).Revenue Reserve
3.Surplus on revaluation of fixed assets

(Thousand Rupees)
2012
2013

2008

2009

2010

2011

326,452

301,995
1,330
347,737
300,422
17,535
0
0
243
135,028
2,059
51,211
7,871
0
73,888
134,431
87,705
46,726
62,459
0
26,155
0
2,840
33,464
240,133
250,000
250,000
0
(174,866)
0
(174,866)
164,999

286,530
64
352,455
286,223
18,924
0
0
243
117,893
446
40,202
57,170
0
20,076
142,467
80,148
62,319
57,526
0
26,155
0
2,080
29,291
204,430
250,000
250,000
0
(205,957)
0
(205,957)
160,387

299,999
0
387,612
299,999
21,380
0
0
0
13,170
233
1,145
0
0
11,792
166,365
59,244
107,121
46,633
0
26,987
0
1,887
17,759
100,171
250,000
250,000
0
(305,509)
0
(305,509)
155,680

301,603
0
413,092
301,603
23,876
0
0
0
9,776
51
0
0
0
9,725
204,793
98,350
106,443
30,711
0
832
0
1,887
27,992
75,875
250,000
250,000
0
(340,082)
0
(340,082)
165,957

281,190
0
413,179
281,190
20,501
0
0
0
11,980
19
0
0
0
11,961
217,459
98,350
119,109
27,700
0
832
0
1,687
25,181
48,011
250,000
250,000
0
(364,842)
0
(364,842)
162,853

316,778
316,778
0
347,095
239,347
107,748
(30,317)
11,180
954
10,226
40,276
12,511
12,051
243
0
0
0
179,045

432,368
429,309
3,059
452,614
287,911
164,703
(20,246)
13,521
1,908
11,613
46,065
12,644
12,182
(36,080)
6,129
0
0
(220)

194,122
194,122
0
235,558
153,549
82,009
(41,436)
52,961
919
52,042
20,231
13,406
12,984
(104,738)
19
0
0
55,784

0
0
0
0
0
0
0
37,916
0
37,916
3,605
11,153
11,046
(39,562)
0
0
0
(182)

0
0
0
0
0
0
0
27,740
0
27,740
3,346
10,194
10,076
(30,674)
0
0
0
56

175,501
0
4,498
0

302,591
0
243
87,705

261,956
0
(42,209)
80,148

146,804
0
(104,757)
59,244

106,586
0
(39,562)
98,350

75,711
0
(30,674)
98,350

0.04
16.00
28.79
0.03
0.27
215.52
1.67
1.56
6.18
3.89

0.07
3.95
2.48
0.72
1.00
109.57
0.82
0.06
0.13
0.10

0.40
2.92
13.22
1.07
0.83
104.68
0.98
-8.58
-16.23
-12.78

0.00
6.91
0.00
0.62
0.08
121.35
2.13
-29.19
-68.77
-51.25

0.00

0.00

0.00
0.05

0.00
0.06

Items

336,927
326,452
12,128
0

56,427
3,904
23,920
3,632
0
24,971
207,378
0
207,378
32,334

32,334
143,167
70,380
70,380
0
72,787

F.Operation:
1.Sales
i).Local sales (Net)
ii).Export Sales (Net)
2.Cost of sales
i).Cost of material
ii).Other input cost
3.Gross Profit
4.General, administrative and other expenses
i).Selling & distribution expenses
ii).Administrative and other expenses
5.Salaries, wages and employee benefits
6.Financial expenses
of which: (i) Interest expenses
7.Net profit before tax
8.Tax expense (current year)
9.Total amount of dividend
10.Total value of bonus shares issued
11.Cash flows from operations

12,615
12,615
0
27,188

(14,573)
10,945

10,945

2,019

4,561
63
0
0

G.Miscellaneous
1.Total capital employed (E+D)
2.Total fixed liabilities (D1+D3)
3.Retention in business (F7-F8-F9)
4.Contractual Liabilities (G2+C1)

H.Key Performance Indicators


1.Acid test or quick ratio[(B1+B3+B4) to C]
2.Financial expenses as % of sales (F6 as % of F1)
3.Trade Debt as % of sales (B3 as % of F1)
4.Assets turnover ratio [F1 to (A+B)]
5.Current ratio (B to C)
6.Cost of goods sold to sales (F2 as % of F1)
7.Debt equity ratio [(C+D) to E]
8.Return on assets [F7 as % of avg.(A+B)]
9.Return of equity (F7 as % of avg. E)
10.Return on capital employed ( F7 as % of avg. G1)
11.Dividend cover ratio [(F7-F8) to F9]
12.Inventory Turnover Ratio (F1 to B2)
13.Interest cover ratio [(F7+ F6(i)) to F6(i)]
14.Net profit margin (F7 as % of F1)
15.Operating cash flow to debt ratio [F11 to (C+D)]
16.Earning per share after tax (Rs./share) [(F7-F8)/No. of Ord. shares]
17.Break-up value shares (Rs./share) (E/No. of Ord. shares)

0.53

6.19
1.02
0.08
0.91
0.01
9.61

10.75
-1.96
-8.34
0.00
-1.69
8.18

169.54
-7.07
-53.95
0.26
-4.19
4.01

36.16
0.00
0.64
20.34

113

3.10
-12.67
-44.95
-31.23

5.11
-10.15
-49.52
-33.65

-2.58

-2.04

0.00
-1.58
3.04

0.00
-1.23
1.92

Financial Statement Analysis of Non Financial Sector 2013

Redco Textiles Ltd.


A.Non-Current Assets (A1+A3+A5+A6+A7)
1.Capital work in progress
2.Operating fixed assets at cost
3.Operating fixed assets after deducting accumulated depreciation
4.Depreciation for the year
5.Intangible assets
6.Long term investments
7.Other non-current assets

B.Current Assets (B1+B2+B3+B4+B5)


1.Cash & bank balance
2.Inventories
3.Trade Debt
4.Short term investments
5.Other current assets

C.Current Liabilities (C1+C2)


1.Short term Secured loans
2.Other current liabilities

D.Non-Current Liabilities (D1+D2+D3+D4+D5)


1.Long term secured loans
2.Long term unsecured loans
3.Debentures/TFCs
4.Employees benefit obligations
5.Other non-current liabilities

E.Shareholders Equity (E1+E2+E3)


1.Issued, Subscribed & Paid u