Engro Pakistan

Financial Statements

2016 2015 2014

INCOME STATEMENT Rs.(000) Rs.(000) Rs.(000)

Sales 157,208,000 181,652,000 175,958,000

Cost of Sales (121,365,000) (136,224,000) (139,742,000)
Gross Profit 35,843,000 45,429,000 36,217,000
Admin, Distribution and Marketing Expenses (15,659,000) (14,603,000) (14,789,000)
Other Expenses (2,349,000) (3,227,000) (2,543,000)
Other Income 68,838,000 5,592,000 3,719,000
Operating Profit 86,674,000 33,191,000 22,604,000
Finance Cost (6,038,000) (8,425,000) (12,344,000)
Share of Income from Joint Venture & associates 1,273,000 1,019,000 723000
Net Profit Before Taxation 81,909,000 25,785,000 10,983,000
Provision for Taxation (8,311,000) (8,516,000) (3,182,000)
Net Profit After Taxation 73,598,000 17,268,000 7,801,000

2016 2015 2014

BALANCE SHEET Rs.(000) Rs.(000) Rs.(000)

ASSETS

NON-CURRENT ASSETS

Property, Plant and Equipment 131,408,000 128,404,000 134,507,000

Long-term Investments 34,701,000 3,120,000 2,735,000
Biological Assets - 1,024,000 859000
Intangible Assets 222000 277000 296000
Others 10,405,000 4,888,000 2,399,000
Total 176,736,000 137,713,000 140,796,000

CURRENT ASSETS

Store, Spares and Loose Tools 7,148,000 7,679,000 7,547,000

Stock-in-Trade 10,704,000 14,089,000 11,567,000
Trade Debts 13,733,000 6,734,000 4,615,000
Advances, Deposits and Prepayments 1,390,000 1,508,000 1,708,000
Other Receivables 9,995 7,935,000 5,317,000
Taxes Recoverable - 2,350,000 3,253,000
Cash and Bank Balances 5,900,000 4,112,000 12,245,000
Short-term Investments 64,726,000 14,050,000 28,987,000
Others - 122000 1,052,000
Total 113,597,000 58,579,000 76,291,000

TOTAL ASSETS 290,333,000 196,292,000 217,087,000

EQUITY AND LIABILITIES

EQUITY

Share Capital 5,238,000 5,238,000 5,238,000

Share Premium 13,068,000 13,068,000 13,068,000
Unappropriated Profits 111,008,000 45,891,000 33,997,000
Reserves 4,523,000 5,044,000 4,874,000
Non-Controlling Interest 35,253,000 16,431,000 10,847,000
Total Equity 169,091,000 85,673,000 68,025,000

LIABILITIES

NON-CURRENT LIABILITIES
Borrowings 60,610,000 36,993,000 55,380,000
Derivative Financial Instruments 2000 17000 51000
Deferred Taxation 8,983,000 8,690,000 6,558,000
Others 197000 161000 198000
Total 69,791,000 45,862,000 62,187,000

CURRETN LIABILITIES

Current portion of Borrowings 12,509,000 22,589,000 17,945,000

Others 102000 98000 43000
Trade and Other Payables 31,625,000 34,051,000 53,498,000
Accrued Interest / Mark up 1,138,000 1,328,000 2,068,000
Short-term Borrowings 5,536,000 6,177,000 11,765,000
Short term finances 542000 514000 1,556,000
Total 51,451,000 64,757,000 86,875,000

TOTAL EQUITY AND LIABILITIES 290,333,000 196,292,000 217,087,000

Total Dividend (Assumption) 600,000 550,000 500,000

No. of Share (Assumption) 2,800 2,800 2,500

Uniliver Pakistan
Financial Statements

2016 2015 2014

INCOME STATEMENT Rs.(000) Rs.(000) Rs.(000)

Sales 9,466,836 8,571,097 7,787,059

Cost of sales (5,264,621) (4,738,804) (4,426,989)
Gross profit 4,202,215 3,832,293 3,360,070
Distribution cost (2,238,606) (1,954,022) (1,445,978)
Administrative expenses (155,137) (154,298) (160,740)
Other operating expenses (126,587) (125,372) (127,212)
Other income 120,343 103,174 113,582
Profit from operations 1,802,228 1,701,775 1,739,722
Finance costs (34,470) (36,090) (49,793)
Profit before taxation 1,767,758 1,665,685 1,689,929
Taxation (491,669) (433,557) (518,108)
Profit after taxation 1,276,089 1,232,128 1,171,821

2016 2015 2014

BALANCE SHEET Rs.(000) Rs.(000) Rs.(000)

ASSETS

NON-CURRENT ASSETS

Property, Plant and Equipment 2,084,856 2,040,339 1,803,992

Intangible assets 81,637 81,637 81,637
Long term loans 12,302 37,749 17,855
Long term prepayment 2,605 - -
Retirement benefit - prepayment - - 1,776
Total 2,181,400 2,159,725 1,905,260

CURRENT ASSETS

Stores and spares 31,429 22,483 25,682

Stock in trade 958,171 959,276 849,057
Trade debts 301,929 209,064 204,351
Loans and advances 23,864 15,180 16,077
Trade deposits and short term prepayments 74,049 50,484 60,067
Other receivables 10,815 30,868 51,901
Taxation - payments less provision 341,659 376,961 173,843
Cash and bank balances 694,779 593,252 137,024
Sales tax refundable - - 42,690
Total 2,436,695 2,257,568 1,560,692

4,618,095 4,417,293 3,465,952

EQUITY AND LIABILITIES

EQUITY

Share capital 61,576 61,576 61,576

Reserves 1,743,342 1,617,018 721,822
Total Equity 1,804,918 1,678,594 783,398

LIABILITIES

NON-CURRENT LIABILITIES
Retirement benefits - obligation 2,452 5,691 1,369
Deferred taxation 213,242 214,953 110,870
Total 215,694 220,644 112,239

CURRETN LIABILITIES

Trade and other payables 2,424,678 2,348,513 2,518,817

Provision 57,623 37,935 21,791
Accrued interest / mark-up - 1,119 757
Taxation - provision less payments - - -
Sales tax payable 115,182 48,812 -
Short term borrowings - 81,676 28,950
Total 2,597,483 2,518,055 2,570,315

TOTAL EQUITY AND LIABILITIES 4,618,095 4,417,293 3,465,952

Total Dividend (Assumption) 400,000 375,000 350,000

No. of Share (Assumption) 1,400 1,500 1,550

Financial Ratios
Engro Pakistan
2016 2015 2014

Profitability Ratios

GP Margin 23% 25% 21%

NP Margin 52% 14% 6%

ROCE 44% 20% 11%

Liquidity Ratios

Current Ratio 221% 90% 88%

Quick Ratio 200% 69% 75%

Efficiency Ratio

Debtor Days 31.88 13.53 9.57

Creditor Days 95.11 91.24 139.73

Inventory Days 32.19 37.75 30.21

Gearing Ratios

Debt/Equity Ratio 0.41 0.54 0.91

Interest Cover Ratio 0.07 0.25 0.55

Investor Ratio

Dividend Cover 0.01 0.03 0.06

EPS 26285.00 6167.14 3120.40

 UNILIVER Pakistan
2016 2015 2014

44% 45% 43%

19% 20% 22%

71% 73% 150%

94% 90% 61%

57% 52% 28%

11.64 8.90 9.58

168.10 180.89 207.67

66.43 73.89 70.00

0.12 0.13 0.14

0.02 0.02 0.03

0.31 0.30 0.30

911.49 821.42 756.01