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BALANCE SHEET
AS AT JUNE 30, 2010
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment 4,873,500,374 6,106,946,449 7,455,966,993 7,624,816,335 7,393,978,991 11,855,461,204
Intangible asset 3,249,600 1,624,800 - - - -
Long term deposits - - - - 20,988,313 19,735,910
4,876,749,974 6,108,571,249
### 7,455,966,993 7,624,816,335 7,414,967,304 11,875,197,114
###
CURRENT ASSETS
Stores, spares and loose tools 646,839,304 1,062,502,650 1,096,120,106 1,175,542,491 1,354,236,610 1,235,107,734
Stock in trade 2,989,559,065 3,770,941,945 3,997,183,255 4,430,822,969 4,475,234,871 2,491,388,714
Trade debts 862,456,283 1,560,103,030 1,820,814,162 2,429,040,820 3,125,515,062 3,302,962,149
Loans and advances 254,452,555 264,869,379 208,255,648 145,473,360 140,213,315 136,617,136
Deposits and prepayments 66,098,532 55,411,932 68,312,589 54,046,670 41,763,282 20,313,478
Other receivables 64,015,588 55,242,856 61,405,167 135,968,236 131,097,073 128,805,315
Tax refunds due from
Government 207,055,061 293,498,566 209,553,036 231,534,410 194,877,637 178,506,493
Cash and bank balances 89,435,888 127,865,943 65,246,722 59,679,249 63,351,766 17,420,372
5,179,912,276 7,190,436,301 7,526,890,685 8,662,108,205 9,526,289,616 7,511,121,391
Non-current assets
classified as held for sale 875,081,814
10,056,662,250 14,174,089,364 14,982,857,678 16,286,924,540 16,941,256,920 19,386,318,505
CHENAB LIMITED
BALANCE SHEET
VERTICAL ANAYLSIS
2005 2006 2007
Rupees Rupees Rupees
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Issued, subscribed
and paid up capital 9.94% 8.11% 7.68%
Cumulative preference shares 7.95% 5.64% 5.34%
Capital reserves 1.77% 2.91% 3.51%
Revenue reserves 3.88% 2.70% 1.89%
23.54% 19.37% 18.42%
SURPLUS ON REVALUATION OF
PROPERTY, PLANT AND EQUIPMENT 2.68% 8.21% 7.75%
NON-CURRENT LIABILITIES
CURRENT LIABILITIES
Trade and other payables 10.82% 10.64% 12.34%
Interest / markup payable 1.01% 1.18% 1.17%
Short term borrowings 35.84% 35.08% 36.53%
Current portion of :
Long term financing 1.79% 8.14% 4.16%
Liabilities against assets 0.00% 0.00% 0.00%
CONTINGENCIES
AND COMMITMENTS
100% 100% 100%
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment 48.46% 43.09% 49.76%
Intangible asset 0.03% 0.01% 0.00%
Long term deposits 0.00% 0.00% 0.00%
CURRENT ASSETS
Stores, spares and loose tools 6.43% 7.50% 7.32%
Stock in trade 29.73% 26.60% 26.68%
Trade debts 8.58% 11.01% 12.15%
Loans and advances 2.53% 1.87% 1.39%
Deposits and prepayments 0.66% 0.39% 0.46%
Other receivables 0.64% 0.39% 0.41%
Tax refunds due from
Government 2.06% 2.07% 1.40%
Cash and bank balances 0.89% 0.90% 0.44%
Non-current assets
classified as held for sale
100.00% 100.00% 100.00%
2008 2009 2010
Rupees Rupees Rupees
28,693,957.00
#REF!
5,454,682.00
CHENAB LIMITED
BALANCE SHEET
VERTICAL ANAYLSIS
2005 2006 2007
Rupees Rupees Rupees
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Issued, subscribed
and paid up capital 100.00% 115.00% 115.00%
Cumulative preference shares 100.00% 100.00% 100.00%
Capital reserves 100.00% 231.74% 296.00%
Revenue reserves 100.00% 98.30% 72.52%
100.00% 115.95% 116.53%
SURPLUS ON REVALUATION OF
PROPERTY, PLANT AND EQUIPMENT 100.00% 431.44% 430.65%
NON-CURRENT LIABILITIES
CURRENT LIABILITIES
Trade and other payables 100.00% 138.60% 169.97%
Interest / markup payable 100.00% 164.26% 171.67%
Short term borrowings 100.00% 137.93% 151.85%
Current portion of :
Long term financing 100.00% 640.84% 345.89%
Liabilities against assets
subject to finance lease 0.00% 100.00% 122.04%
Long term morabaha 0.00% 0.00% 100.00%
Provision for taxation - income tax 100.00% 183.89% 358.77%
CONTINGENCIES
AND COMMITMENTS
100% 141% 149%
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment 100.00% 125.31% 152.99%
Intangible asset 100.00% 50.00% 0.00%
Long term deposits 0.00% 0.00% 0.00%
CURRENT ASSETS
Stores, spares and loose tools 100.00% 164.26% 169.46%
Stock in trade 100.00% 126.14% 133.70%
Trade debts 100.00% 180.89% 211.12%
Loans and advances 100.00% 104.09% 81.84%
Deposits and prepayments 100.00% 83.83% 103.35%
Other receivables 100.00% 86.30% 95.92%
Tax refunds due from
Government 100.00% 141.75% 101.21%
Cash and bank balances 100.00% 142.97% 72.95%
Non-current assets
classified as held for sale
100.00% 140.94% 148.98%
2008 2009 2010
Rupees Rupees Rupees
125.70% 89.99%
### 134.06%
0.00% 0.00% 0.00%
345.93% 348.22% 371.12%
28,693,957.00
#REF!
5,454,682.00
CHENAB LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED JUNE 30, 2010
Selling and distribution expenses 285,378,467 404,581,670 367,092,927 400,213,310 307,434,207 363,687,892
Administrative expenses 168,093,954 198,081,877 168,635,898 177,956,782 197,356,419 198,245,997
Other operating expenses 48,445,603 12,421,579 15,114,318 6,666 6,995,759 7,087,892
Finance cost 423,329,473 738,833,263 838,856,464 1,124,591,364 1,487,708,495 1,308,783,863
925,247,497 1,353,918,389 1,389,699,607 1,702,768,122 1,999,494,880 1,877,805,644
Loss before taxation 232,621,765 216,077,623 160,439,044 (15,144,130) (13,729,510) (1,939,627,600)
Provision for taxation 46,376,756 ### 65,913,075 85,656,748 80,495,372 82,933,342 88,341,710
Loss for the year 186,245,009 150,164,548 74,782,296 (95,639,502) (96,662,852) (2,027,969,310)
Earnings per share- Basic and diluted 1.25### 0.67 0.01 (0.83) (0.84) (17.63)
VERTICAL ANALYSIS
Selling and distribution expenses 4.87% 5.81% 4.50% 4.70% 3.38% 4.11%
Administrative expenses 2.87% 2.85% 2.07% 2.09% 2.17% 2.24%
Other operating expenses 0.83% 0.18% 0.19% 0.00% 0.08% 0.08%
Finance cost 7.22% 10.62% 10.28% 13.22% 16.36% 14.78%
15.78% 19.46% 17.03% 20.02% 21.99% 21.20%
Loss before taxation
HOREZONTAL ANALYSIS
Selling and distribution expenses 100.00% 141.77% 128.63% 140.24% 107.73% 127.44%
Administrative expenses 100.00% 117.84% 100.32% 105.87% 117.41% 117.94%
Other operating expenses 100.00% 25.64% 31.20% 0.01% 14.44% 14.63%
Finance cost 100.00% 174.53% 198.16% 265.65% 351.43% 309.16%
Loss for the year 100.00% 80.63% 40.15% -51.35% -51.90% -1088.87%