P. 1
Financial Ratio Analysis of PSO and SPL (Shell) ........TAHIR SAMI

Financial Ratio Analysis of PSO and SPL (Shell) ........TAHIR SAMI

|Views: 97|Likes:
Published by SAM
financial Ratio Analysis of PSO and Shell ........... TAHIR SAMI

For further detail contact with me (SAM Arians) at Tahir_sami1@yahoo.com and in case of emergency 0092-321-4696154
financial Ratio Analysis of PSO and Shell ........... TAHIR SAMI

For further detail contact with me (SAM Arians) at Tahir_sami1@yahoo.com and in case of emergency 0092-321-4696154

More info:

Published by: SAM on Jun 23, 2009
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PPT, PDF, TXT or read online from Scribd
See more
See less

10/11/2012

pdf

text

original

Financial Statement Analysis

Of
Pakistan State Oil Company Limited
&
Shell Pakistan Limited
Road Map
Aims & Objectives Aims & Objectives Intod!ction
"ata Collection "ata Collection "ata Pocessin# "ata Pocessin#
"ata Analysis "ata Analysis Concl!sion Concl!sion
Recommendations Recommendations
INTRODUCTION
Intod!ction

$he Pakistani oil maketin# secto mainly consist of
thee companies namely Pakistan State Oil
Company% Shell Pakistan and Calte& Pakistan'

$he #iant oil maketin# companies Pakistan State
Oil and Shell Pakistan% I am tyin# to do in this
poject compaison of financial statements analysis

AIMS & OBJECTIVES
AIMS & OBJECTIVES
Aims and Objectives
('"etemine the si#nificant
financial sten#th
• PSO
• SPL
)' Financial
position
*' "etemine the
pefomance
DATA COLLECTION
"ata Collection

Annual Reports of Pakstan State Ol Co!pan" L!te#$

Annual Reports of S%ell Pakstan L!te#$

Art&le fro! Ne' Papers

(e)stes
DATA PROCESSIN*
DATA PROCESSIN*
"ata Pocessin#
"ata Pocessin#

+nan&al state!ent anal"ss %as )een #on for t%ree re&ent
"ears ,--./ ,--0 & ,--1$

All #ata )rn2 to2et%er lke re&o!!en#aton of nstru&tors$

All annual reports fnan&al state!ents #e3elop n M$S
E4&el$

All anal"ss %as )een #one n M$S E4&el 't% 2rap%&al
C%arts$

All t%eor" 'ork %as )een #one n M$S (or#$
DATA ANAL5SIS
DATA ANAL5SIS
Balance Sheets
Balance Sheets
+alance Sheets PSO SPL
ASS,$S *--. *--/ *--0 *--. *--/ *--0
Rs 1---2 Rs 1---2
3on4C!ent Assets 11231328 12224042 12133849 9444650 9498295 7900045
C!ent Assets 115878692 62513273 58034675 30220209 19713632 20392354
$otal 3et Assets (*/((--*- /5/)/)(6 /-(0.6*5 )7005.67 *7*((7*/ *.*7*)77

,89I$: A3" LIA+ILI$I,S
,;!ity 30965054 20939217 20813059 13611638 9460771 10156746
3on4C!ent Liabilities 2408746 2412371 2298887 2745410 139041 157643
C!ent Liabilities 93736220 51385727 47056578 23307811 19612115 17978010
$otal ,;!ity and Liabilities (*/((--*- /5/)/)(6 /-(0.6*5 )7005.67 *7*((7*/ *.*7*)77
"ata analysis
Pofit and Loss Acco!nt PSO SPL
*--. *--/ *--0 *--. *--/ *--0
Rs 1---2 Rs 1---2
Sales 576*/.6)) )57/-0)*0 *7.*6--)7 ()7.550.7 ((6-565)5 ((/*0*6(7
Cost of products sold (465254907) (337446896) (281042813) (124694471) (108664932) (107301071)
<oss Pofit )--*)0*0 (**675)- (/*-/**0 (6(6-*(. 0).-6-* 770(55.
Opeatin# ,&penses (9283021) (6012814) (7337342) (6975312) (5461240) (5125509)
Profit after operating epenses 20740605 6246616 9869884 8174906 919262 4835939
!t"er #nco$e 313860 424238 442791
!t"er operating inco$e 1396527 1278932 950850 306453 215322 158681
Profit fro$ operations 22450992 7949786 11263525 8481359 1134584 4994620
%inance costs (1367898) (1158112) (884153) (970267) (878098) (398009)
&"are of profit of association net of ta 294318 330306 1038939 212248 122250 43573
pofit befoe ta&ation *()//5(* /(*(7.- ((5(.)(( //*))5- )/./)0 505-(.5
'aation (7323617) (2432182) (3893610) (2586246) 327923 (1493060)
Pofit fo the yea (5-6)/76 50.7/7. /6*5/-( 6()/-75 /-0067 )(5/(*5
Profit & Loss Account
Profit & Loss Account
"ata analysis
Liquidity Ratio Analysis
Liquidity Ratio Analysis
1.2
1.3
1.2
1.0
1.2
1.1
0(00
0(20
0(40
0(60
0(80
1(00
1(20
1(40
2008 2007 2006
:eas
C!ent Assets Ratio
P&! &P)
0.57
0.52
0.64
0.58
0.63
0.58
0(00
0(10
0(20
0(30
0(40
0(50
0(60
0(70
2008 2007 2006
:eas
Acid test Ratio
P&! &P)
"ata analysis
Leverage Ratio Analysis
Leverage Ratio Analysis
"ata analysis
•$ime Inteest ,aned
( *arning +efore inco$e ta ,
interest ep)
:eas *--. *--/ *--0
PSO 98(09 53(97 94(58
SPL 49(11 2(88 60(23
•Debt Ratio
('otal )ia+ilities , 'otal -ssets)
:eas *--. *--/ *--0
PSO 0(76 0(72 0(70
SPL 0(66 0(68 0(64
•Debt / Equity Ratio
( .e+t , 'otal */uit0)
:eas *--. *--/ *--0
PSO 3(10 2(57 2(37
SPL 1(91 2(09 1(79
"ata analysis
Profitability
Profitability
Ratio Analysis
Ratio Analysis
•3et Pofit Ma#in
(1et Profit , 1et &ales)2100
:eas *--. *--/ *--0
PSO 2(843 1(343 2(523
SPL 3(673 0(613 2(683
•Return on Assets
(1et #nco$e , 'otal -ssets)2100
:eas *--. *--/ *--0
PSO 11(063 6(283 10(723
SPL 12(953 2(423 11(123
•Oerating !nco"e #argin
(!perating #nco$e , &ales)2100
:eas *--. *--/ *--0
PSO 4(533 2(273 3(783
SPL 6(063 0(993 4(263
Activity
Activity
Ratio Analysis
Ratio Analysis
"ata analysis
•Avea#e collection
peiod
( 365 .a0s , -ccount 4ecei5a+le
'urno5er)
:eas *--. *--/ *--0
PSO .a0s 6 21 12 12
SPL .a0s 6 11 12 14
•Avea#e payment
peiod
(365 .a0s , -ccount Pa0a+le
'urno5er)
:eas *--. *--/ *--0
PSO .a0s 6 64 45 48
SPL .a0s 6 48 40 41
•Avea#e a#e of
inventoy
(365da0s , #n5entor0 'urno5er)
7ears 2008 2007 2006
PSO .a0s 6 19 14 10
SPL .a0s 6 13 16 11
"ata analysis
#ar$et Ratio Analysis
#ar$et Ratio Analysis
:eas *--. *--/ *--0
PSO 81(94 27(34 43(87
SPL 93(76 12(90 57(44
:eas *--. *--/ *--0
PSO 5(1 14(3 7
SPL 8(5 31(0 8(4
:eas *--. *--/ *--0
PSO 4s(23(5 4s(21 4s(34
SPL 4s(50 4s(16 4s(30
•Dividend er share
•Earning er Share
6Net In&o!e 7No of S%ares8
•Price/Earning Ratio
6Market Pr&e Per S%are7
Earnn2 Per S%are8
:eas *--. *--/ *--0
PSO 28(683 76(803 77(503
SPL 53(333 124(053 52(233
•Dividend Payout
•6D3#en# Per S%are7
Earnn2 Per S%are89:--
"ata analysis
%ash flo& Ratio Analysis
%ash flo& Ratio Analysis
:eas *--. *--/ *--0
PSO 0(37 0(41 0(21
SPL 17(50 3(36 34(24
•Operatn2 &as% flo' 7 Total #e)t
:eas *--. *--/ *--0
PSO 0(04 0(07 0(03
SPL 0(04 0(01 0(05
•Operatn2 &as% flo' per s%are
:eas *--. *--/ *--0
PSO 0(24 0(22 0(10
SPL 0(02 0(00 0(02
•Operatn2 &as% flo' 7&as% #3#en#s
:eas *--. *--/ *--0
PSO 0(01 0(01 0(00
SPL 0(0003 0(0001 0(0005
•Operatn2 &as% flo' 7 &urrent !aturt"
of lon2 ter! #e)t an# &urrent notes
pa"a)les
+alance Sheets PSO =etical Analysis
ASS,$S *--. *--/ *--0 *--. *--/ *--0
Rs 1---2 > > >
3on4C!ent Assets 11231328 12224042 12133849 8(84 16(36 17(29
C!ent Assets 115878692 62513273 58034675 91(16 83(64 82(71
$otal 3et Assets (*/((--*- /5/)/)(6 /-(0.6*5 (--'-- (--'-- (--'--

,89I$: A3" LIA+ILI$I,S
,;!ity 30965054 20939217 20813059 24(36 28(02 29(66
3on4C!ent Liabilities 2408746 2412371 2298887 1(90 3(23 3(28
C!ent Liabilities 93736220 51385727 47056578 73(74 68(76 67(06
$otal ,;!ity and Liabilities (*/((--*- /5/)/)(6 /-(0.6*5 (--'-- (--'-- (--'--
PSO Balance Sheet 'ertical Analysis
"ata analysis
"ata analysis
SPL Balance Sheet 'ertical Analysis
+alance Sheets SPL =etical Analysis
ASS,$S *--. *--/ *--0 *--. *--/ *--0
Rs 1---2 > > >
3on4C!ent Assets 9444650 9498295 7900045 23(81 32(52 27(92
C!ent Assets 30220209 19713632 20392354 76(19 67(48 72(08
$otal 3et Assets )7005.67 *7*((7*/ *.*7*)77 (--'-- (--'-- (--'--

,89I$: A3" LIA+ILI$I,S
,;!ity 13611638 9460771 10156746 34(32 32(39 35(90
3on4C!ent Liabilities 2745410 139041 157643 6(92 0(48 0(56
C!ent Liabilities 23307811 19612115 17978010 58(76 67(14 63(54
$otal ,;!ity and Liabilities )7005.67 *7*((7*/ *.*7*)77 (--'-- (--'-- (--'--
"ata analysis
PSO Profit & Loss Account
'ertical Analysis
Pofit and Loss Acco!nt PSO =etical Analysis
*--. *--/ *--0 *--. *--/ *--0
Rs 1---2 > > >
Sales 6.)*()767 5((-6/67* )6*6(5./) (--'-- (--'-- (--'--
3et Sales 576*/.6)) )57/-0)*0 *7.*6--)7 .5'7* .6'-/ .5'0(
Cost of products sold (465254907) (337446896) (281042813) (79(77) (82(09) (79(73)
<oss Pofit )--*)0*0 (**675)- (/*-/**0 6'(6 *'7. 5'..
Opeatin# ,&penses (9283021) (6012814) (7337342) (1(59) (1(46) (2(08)
Profit after operating epenses 20740605 6246616 9869884 3(56 1(52 2(80
!t"er #nco$e 313860 424238 442791 0(05 0(10 0(13
!t"er operating inco$e 1396527 1278932 950850 0(24 0(31 0(27
Profit fro$ operations 22450992 7949786 11263525 3(85 1(93 3(20
%inance costs (1367898) (1158112) (884153) (0(23) (0(28) (0(25)
&"are of profit of association net of ta 294318 330306 1038939 0(05 0(08 0(29
pofit befoe ta&ation *()//5(* /(*(7.- ((5(.)(( )'0/ ('/) )'*5
'aation (7323617) (2432182) (3893610) (1(26) (0(59) (1(10)
Pofit fo the yea (5-6)/76 50.7/7. /6*5/-( *'5( ('(5 *'()
SPL Profit & Loss Account
'ertical Analysis
"ata analysis
Pofit and Loss Acco!nt SPL =etical Analysis
*--. *--/ *--0 *--. *--/ *--0
Rs 1---2 > > >
Sales (6/0*057( ()-(*7.55 ()*.5-50- (--'-- (--'-- (--'--
3et Sales ()7.550.7 ((6-565)5 ((/*0*6(7 ..'/* ..'5( ..'*/
Cost of products sold (124694471) (108664932) (107301071) (79(11) (83(51) (80(77)
<oss Pofit (6(6-*(. 0).-6-* 770(55. 7'0( 5'7- /'6-
Opeatin# ,&penses (6975312) (5461240) (5125509) (4(43) (4(20) (3(86)
Profit after operating epenses 8174906 919262 4835939 5(19 0(71 3(64
!t"er #nco$e 0 0 0 0(00 0(00 0(00
!t"er operating inco$e 306453 215322 158681 0(19 0(17 0(12
Profit fro$ operations 8481359 1134584 4994620 5(38 0(87 3(76
%inance costs (970267) (878098) (398009) (0(62) (0(67) (0(30)
&"are of profit of association net of ta 212248 122250 43573 0(13 0(09 0(03
pofit befoe ta&ation //*))5- )/./)0 505-(.5 5'7- -'*7 )'57
'aation (2586246) 327923 (1493060) (1(64) 0(25 (1(12)
Pofit fo the yea 6()/-75 /-0067 )(5/(*5 )'*0 -'65 *')/
PSO Balance sheet (ori)ontal Analysis
"ata analysis
+alance Sheets PSO ?oi@ontal Analysis Chan#es
ASS,$S *--. *--/ *--0 *--. *--/ *--0 *--. *--/
Rs 1---2 > > > > >
3on4C!ent Assets 11231328 12224042 12133849 92(56 100(74 100 (7(44) 0(74
C!ent Assets 115878692 62513273 58034675 199(67 107(72 100 99(7 7(72
$otal 3et Assets (*/((--*- /5/)/)(6 /-(0.6*5 (.('(6 (-0'6( (-- .('( 0'6(

,89I$: A3" LIA+ILI$I,S
,;!ity 30965054 20939217 20813059 148(78 100(61 100 48(8 0(61
3on4C!ent Liabilities 2408746 2412371 2298887 104(78 104(94 100 4(78 4(94
C!ent Liabilities 93736220 51385727 47056578 199(20 109(20 100 99(2 9(2
$otal ,;!ity and Liabilities (*/((--*- /5/)/)(6 /-(0.6*5 (.('(6 (-0'6( (-- .('( 0'6(
"ata analysis
SPL Balance sheet (ori)ontal Analysis
+alance Sheets SPL ?oi@ontal Analysis Chan#es
ASS,$S *--. *--/ *--0 *--. *--/ *--0 *--. *--/
Rs 1---2 > > > > >
3on4C!ent Assets 9444650 9498295 7900045 119(55 120(23 100 19(6 20(2
C!ent Assets 30220209 19713632 20392354 148(19 96(67 100 48(2 (3(33)
$otal 3et Assets )7005.67 *7*((7*/ *.*7*)77 (5-'*- (-)'*6 (-- 5-'* )'*6

,89I$: A3" LIA+ILI$I,S
,;!ity 13611638 9460771 10156746 134(02 93(15 100 34 (6(85)
3on4C!ent Liabilities 2745410 139041 157643 1741(54 88(20 100 1642 (11(8)
C!ent Liabilities 23307811 19612115 17978010 129(65 109(09 100 29(6 9(09
$otal ,;!ity and Liabilities )7005.67 *7*((7*/ *.*7*)77 (5-'*- (-)'*6 (-- 5-'* )'*6
"ata analysis
Pofit and Loss Acco!nt PSO ?oi@ontal Analysis Chan#es in >
*--. *--/ *--0 *--. *--/ *--0 *--. *--/
Rs 1---2 > > > 3 3
Sales 6.)*()767 5((-6/67* )6*6(5./) (06'55 ((0'0-/ (--'-- 5.'.5 (0'0(
3et Sales 576*/.6)) )57/-0)*0 *7.*6--)7 (00'-0 ((/'*6) (--'-- 5.'.( (/'*6
Cost of products sold 8465254907 8337446896 8281042813 165(55 120(070 100(00 45(48 20(07
<oss Pofit )--*)0*0 (**675)- (/*-/**0 (/5'5. /('*50 (--'-- (-)'*5 1*.'/62
Opeatin# ,&penses 89283021 86012814 87337342 126(52 81(948 100(00 44(57 (18(05)
Profit after operating epenses 20740605 6246616 9869884 210(14 63(290 100(00 146(85 (36(71)
!t"er #nco$e 313860 424238 442791 70(88 95(810 100(00 (24(93) (4(19)
!t"er operating inco$e 1396527 1278932 950850 146(87 134(504 100(00 12(37 34(50
Profit fro$ operations 22450992 7949786 11263525 199(32 70(580 100(00 128(74 (29(42)
%inance costs 81367898 81158112 8884153 154(71 130(985 100(00 23(73 30(99
&"are of profit of association net of
ta 294318 330306 1038939 28(33 31(793 100(00 (3(46) (68(21)
pofit befoe ta&ation *()//5(* /(*(7.- ((5(.)(( (./'** 0*')/) (--'-- (*5'.6 1)/'0)2
'aation 87323617 82432182 83893610 188(09 62(466 100(00 125(63 (37(53)
Pofit fo the yea (5-6)/76 50.7/7. /6*5/-( (.0'// 0*')*6 (--'-- (*5'55 1)/'0/2
PSO Profit & Loss Account
(ori)ontal Analysis
"ata analysis
SPL Profit & Loss Account
(ori)ontal Analysis
Pofit and Loss Acco!nt SPL ?oi@ontal Analysis Chan#es in >
*--. *--/ *--0 *--. *--/ *--0 *--. *--/
Rs 1---2 > > > 3 3
Sales (6/0*057( ()-(*7.55 ()*.5-50- ((.'00 7/'70 (--'-- (.'00 1*'-52
3et Sales ()7.550.7 ((6-565)5 ((/*0*6(7 ((7'*0 7.'(( (--'-- (7'*0 1('.72
Cost of products sold (124694471) (108664932)
(107301071
) 116(21 101(27 100(00 16(21 1(27
<oss Pofit (6(6-*(. 0).-6-* 770(55. (6*'-7 05'-6 (--'-- 6*'-7 1)6'762
Opeatin# ,&penses (6975312) (5461240) (5125509) 136(09 106(55 100(00 36(09 6(55
Profit after operating epenses 8174906 919262 4835939 169(04 19(01 100(00 69(04 (80(99)
!t"er #nco$e 0 0 0
!t"er operating inco$e 306453 215322 158681 193(13 135(69 100(00 93(13 35(69
Profit fro$ operations 8481359 1134584 4994620 169(81 22(72 100(00 69(81 (77(28)
%inance costs (970267) (878098) (398009) 243(78 220(62 100(00 143(78 120(62
&"are of profit of association net of
ta 212248 122250 43573 487(11 280(56 100(00 387(11 180(56
pofit befoe ta&ation //*))5- )/./)0 505-(.5 (00'55 .'(0 (--'-- 00'55 17('.52
'aation (2586246) 327923 (1493060) 173(22 (21(96) 100(00 73(22 (121(96)
Pofit fo the yea 6()/-75 /-0067 )(5/(*5 (0)'*) **'56 (--'-- 0)'*) 1//'662
CONCLUSIONS
Concl!sions
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
R
a
t
i
o
:eas
C!ent Ratios
PSO 1.24 1.22 1.23
SPL 1.30 1.01 1.13
2008 2007 2006
Bot% &o!panes not a)le to !antan t%e nor!al l!t of &urrent rato
'%&% !eans t%er &urrent la)ltes are !ore t%an t%e &urrent assets$
0
5
10
:ea
<oss Pofit Ma#in
PSO
5.15 2.98 4.88
SPL 9.61 4.90 7.50
2008 2007 2006
%onclusions
*ross proft !ar2n s%o'n2 t%at SPL %a3e a 2oo# an# 3er" attra&t3e
&ost of 2oo#s sol# an# PSO not %a3e 2oo# 2ross proft !ar2n
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
P
e

c
e
n
t
a
#
e

o
f

c
h
a
n
#
e
s
:eas
3et Pofit Ma#in
PSO 2.84 1.34 2.52
SPL 3.67 0.61 2.68
2008 2007 2006
%onclusions
In t%e Net proft !ar2n SPL %a3e t%e a#3anta2e o3er t%e PSO/ )e&ause of
t%er all e4penses are n &ontrol an# )u#2ete# an# t%at;s '%" t%er Net proft
!ar2n s 3er" effe&t3e$
0
20
40
60
80
100
Rs
:eas
,anin# Pe Shae
PSO 81.94 27.34 43.87
SPL 93.76 12.90 57.44
2008 2007 2006
%onclusions
Earnn2 per s%are n ,--. S%ell lea#n2 't% Rs$<=$01 per s%are n "ear ,--0
PSO lea#n2 Rs$,0$=> per s%are an# n ,--1 SPL Rs$?0$>> per s%are
profta)lt" ts !eans SPL profta)lt" le3el s 2oo#$
RECOMMENDATIONS
Recommendations

Bot% &o!panes &urrent rato not s%o'n2 t%e nor!al l!ts
t%er Current assets s%oul# )e t'&e t%e &urrent la)ltes$

PSO &ost of pro#u&ton s %2%er t%an t%e SPL$ Its !eans t%at
PSO not pro#u&n2 pro#u&ts effe&t3el" or eff&entl" PSO
%a3e to re#u&e t%er Pro#u&ton &ost$

Bot% &o!panes not a)le to !antan t%e nor!al l!t of a&#
test rato )e&ause s less t%en : '%&% !eans t%er &urrent
la)ltes are !ore t%an t%e &urrent assets$ Current assets
s%oul# )e e@ual to &urrent la)ltes$
TAANB 5OU

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->