Fauji Cement by Azzam Jafar

Fauji Cement Company Limited
SUBMITTED TO:
Mr. Yasir Ga!oor
SUBMITTED BY:
Muammad "##am $a!ar
%o&& 'o. ()*
BB" +,ons.- .
t Semester
+)//01/2-
Department O! Mana3ement S4ien4es
U'I5E%SITY OF EDUC"TIO' O6"%" U'I5E%SITY OF EDUC"TIO' O6"%"
C"M7US C"M7US
2
Dedi4ation
I dedicate this project to my Parents, Teachers and Friend.
3
"C6'O8LEDGEME'T
I humbly prostrate to Allah the almighty, the most benevolent and the most merciful for
shoering his blessing on me throughout my live and especially during my final project.
It as !e and the prayers of my parents, ho gave me courage and ill to complete my
project.
I oe a debt of sincere gratitude, heartiest obligation and appreciation to my orthy
teacher Sir Yasir Ga!oor for his guidance, insightful comments and valuable
suggestions.
I than" to my beloved parents and all of ho prayed for me success and time and again
restored my confidence myself and help me in every possible ay they could.
I ant to pay my heartiest tribute to all friends for their consistent encouragement,
cooperation, inspiring guidance about the project. They helped me in times of troubles#
their love, support, devotion and sincerity have been admiration.
$
T"BLE OF CO'TE'TS
Sr.'o. Detai&s 7a3e 'o.
%&ecutive 'ummary
(ompany Information
(ompany Introduction
)ission 'tatement
*ision 'tatement
*alues
Pest Analysis
Financial Analysis
+alance 'heet ,Trend Analysis-
+alance 'heet ,*ertical Analysis-
Income 'tatement ,Trend Analysis-
Income 'tatement ,*ertical Analysis-
.atio Analysis
'/0T Analysis
+(1 )atri&
23 Pont Analysis
(onclusion
.ecommendations
Anne&ure
4
5
E9ECUTI5E SUMM"%Y
In this professional project analysis of Fauji (ement (ompany 6imited is done in very
detail to chec" out current position, performance and progress of the company. To
measure these activities balance sheet ,trend analysis-, balance sheet ,vertical analysis-,
income statement ,trend analysis-, income statement ,vertical analysis-, ratio analysis, 2u
Pont analysis, '/0T analysis and P%'T analysis are performed that has e&plored the
real picture. At the end conclusion is made on the basis of these analysis. Then future
recommendations are made to improve company in every aspect.
Company In!ormation
7
Board o! Dire4tors
6t 1en 'yed Arif !asan, !I ,)- ,.etired- (hairman
)aj 1en )ali" Ifti"har ti"har 8han, !I ,)- ,.etired- (hief %&ecutive 9 )2
)r. :aiser ;aved 2irector
)r. .iya< !. +o"hari, IF3 2irector
+rig Arif .asul :ureshi, 'I ,)- ,.etired- 2irector
+rig .ahat 8han, 'I ,)- ,.etired- 2irector
2r. =adeem Inayat 2irector
+rig 6ia>at Ali ,.etired- 2irector
+rig )unaar Ahmed .ana, 'I,)- ,.etired- 2irector
Company Se4retary:
+rig 'habbir Ahmed ,.etired-
!ouse =o. 52, 8hayaban?e?I>bal ,)argalla .oad-, F?792,
Islamabad ? Pa"istan
Tel@ ,A4B- C22B5CA
Fa&@ ,A4B- C22B5C3
%?mail@ secretaryDfccl.com.p"
/eb 'ite@ http@ 99.fccl.com .p"
Cie! Finan4ia& O!!i4er:
)r. 0mer Ashraf
T el@ ,A4B- 254B752
%e3istered O!!i4e and Sa&es Department:
Ist Floor, Aslam Pla<a,
E
5A Adam ;ee .oad, 'adar, .aalpindi F Pa"istan
Tel@ ,A4B- 4423E35, 442EA$2, 442EC5A, 442EC53?5$
Fa&@ ,A4B- 442EC54?55
Fa4tory:
=ear *illage ;hang, Tehsil Fateh ;ang
2istrict@ Attoc"
Tel@ A47?243EA$7?$E, 243EB3E, 243EB$E F $C
Fa&@ A47?243EA24
"uditors:
)9s 8P)1 Taseer !adi G (o,
(hartered Accountants
Fa& =o@ ,A4B- 2E2257B
Le3a& "d:isors:
Faroo> 6a Associates, Advocates G Attorneys
Fa& =o@ ,A4B- 22725$3
%e3istration ; Sares Trans!er O!!i4er:
)9s (0.P6I=8 ,P*T- 6I)IT% 2
/ings Arcade, B?8, (ommercial, )odel Ton, 6ah ore
Ph =o@ A$2?4E3CBE2, 4EE725 2
Fa& =o@ A$2?4E5CA37
C
Introdu4tion
BA
Corporate 7ro!i&e
A longtime leader in the cement manufacturing industry, Fauji (ement (ompany,
head>uartered in Islamabad, operates a cement plant at ;hang +ahtar, Tehsil Fateh ;ang,
and 2istrict Attoc" in the province of Punjab. The company has a strong and
longstanding tradition of service, reliability, and >uality that reaches bac" more than BA
years. 'ponsored by Fauji Foundation the (ompany as incorporated in .aalpindi in
BCC2.
The cement plant operating in the Fauji (ement is one of the most efficient and best
maintained in the country and has an annual production capacity of B.B54 million tons of
cement. The >uality Portland cement produced at this plant is the best in the (ountry and
is preferred the construction of highays, bridges, commercial and industrial comple&es,
residential homes, and a myriad of other structures needing speedy strengthening bond,
fundamental to Pa"istanHs economic vitality and >uality of life.
BB
B2
Mission Statement
F((6 hile maintaining its leading position in >uality of cement and through greater
mar"et outreach ill build up and improve its value addition ith a vie to ensuring
optimum returns to the shareholders.
B3
B$
5ision Statement
To transform F((6 into a role model cement manufacturing (ompany fully aare of
generally accepted principles of corporate social responsibilities engaged in nation
building through most efficient utili<ation of resources and optimally benefiting all sta"e
holders hile enjoying public respect and goodill.
B4
B5
5a&ues
Customers
/e listen to our customers and improve our product to meet their present and future
needs.
7eop&e
0ur success depends upon high performing people or"ing together in a safe and healthy
or" place here diversity, development and team or" are valued and recogni<ed.
"44ounta<i&ity
/e e&pect superior performance and results. 0ur leaders set clear goals and e&pectations,
are supportive and provide and see" fre>uent feed bac".
Citi#en Sip
/e support the communities here e do business, hold ourselves to the highest
standards of ethical conduct and environment responsibility, and communicate openly
ith F((6 people and the public.
Finan4ia& %esponsi<i&ity
/e are prudent and effective in the use of the resources entrusted to us.
B7
7est ana&ysis
BE
7o&iti4a& ana&ysis
Political scenario of Pa"istan has seen many important changes in recent years. 'ome
important events are as
o (ontrolled democracy
o 1rass root democracy
o 'tability in 1overnment
o Accountability in all departments
o Participation of religious people in 1overnment
o %nlightened moderate policy
o Front role in ar against terrorism
o +etter image in orld
o (ut the roots of e&tremists
o .eformation regarding all important fields
All these changes have ta"en place in last 7 years and it has made Pa"istan entirely a
changed country. %specially Pa"istan role against e&tremism has brought it one of the
best appreciated countries of the orld. 0n the other hand being the only Islamic country
hich has nuclear deterrence it is leading the )uslim orld. /est ants Friendship ith
it. 6ocally there is great stability in 1overnment after BA yeas of as beteen PPP and
P)6. All these factors tell that no Pa"istan is a good place as long as political issues
are concerned.
E4onomi4 ana&ysis
BC
+efore year BCCC, economy of Pa"istan as at orst. Fore& as very lo and it has to
borro even to repay loans. 2ebts ere I3E billion. %conomics indicators ere shoing
negative signs. +ut then change in 1overnment brought many changes. 'ome positive
points are as under.
o Increase in 12P 5J per annum
o Increase in per capita income as EJ
o Increase in e&ports up to B2.4 billion dollars
o Fore& reserve up to B3 billion dollars
o Privati<ation
o +oom in stoc" mar"et
o IT sector development
o )ore than B billion dollars investment per year
Although economy of Pa"istan is ma"ing rapid progress but there are problems of
e&pensive petrol and electricity, hich increases the cost of goods. 0ver all economic
indicators are shoing very positive signs and no it is an attractive mar"et for all types
of international investors.
Situationa& ana&ysis
Pa"istani mar"et has shon good movement toards all types of positive indicators.
=o interest rates are lo, saving schemes are giving less profits, consumers ban"ing is
at pea"ing, ne jobs are being created by 1overnment as ell as foreign investment. All
these situations are calling for ne and ne opportunities and investors.
Te4no&o3i4a& ana&ysis
2A
Pa"istan is considered as developing country. Although it is nuclear poer yet it lac"s
behind in other technologies. =o it has made good progress in digital revolution but still
it has to import heavy machinery from developed countries.
2B
Ba&an4e Seet +Trend "na&ysis-
Ba&an4e Seet+Trend "na&ysis-
)//= )//0 )//* )//> )//.
CU%%E'T "SSETS (//.//? )/=.(0? )>=.2@? @=/./*? 2)(.0.?
(ash and ban" balances BAA.AAJ 3A5.ABJ $3A.A5J 2B$.5CJ BCBC.CBJ
2eposit accounts BAA.AAJ $A7.5AJ 4EA.7$J 2C3.B7J 2733.$BJ
(urrent accounts BAA.AAJ B2B.B7J 23A.C4J C$.ABJ B25.7CJ
(ollection accounts BAA.AAJ $3.C7J A.AAJ A.AAJ A.AAJ
(ash in hand BAA.AAJ $E4.BCJ 3CE.B4J 32C.53J $7C.53J
Trend analysis
0.00%
500.00%
1000.00%
1500.00%
2000.00%
2500.00%
3000.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
Cash and bank balances
Deposit acconts
Crrent acconts
Collection acconts
Cash in hand
22
CU%%E'T "SSETS
The amount of (urrent Assets in the year 2AA$ as .s.47$$5A and it increases to
.s.BB72754 in the year 2AA4 ith and increment of .s.4CE3A4.
And the amount of (urrent Assets in the year 2AA4 as .s.BB72754 and it increases to
.s.B47C3E2 in the year 2AA5 ith an increment of .s.$A55B7.
The amount of (urrent Assets in the year 2AA5 as .s.B47C3E2 and it increases to
.s.BC43427 in the year 2AA7 ith and increment of .s.37$B$4
The amount of (urrent Assets in the year 2AA7as .s.BC43427 and it increases to
.s.42C$AE3 in the year 2AAE ith and increment of .s.33$A445
And the amount (urrent Assets in the final year 2AAE is .s.42C$AE3
The amount of (urrent Assets in the year 2AA$ as BAA.AAJ .and it increases to 2A$.B4J
in the year 2AA4 ith an increment of BA$.B4J
And the amount of (urrent Assets in the year 2AA4 as 2A$.B4J and it increases to
27$.C3J in the year 2AA5 ith an increment of 7A.7EJ
The amount of (urrent Assets in the year 2AA5 as 27$.C3J and it increases to 3$A.A5J
in the year 2AA7 ith and increment of 54.B3J
The amount of (urrent Assets in the year 2AA7 as 3$A.A5J and it increases to C2B.4EJ
in the year 2AAE ith and increment of 4EB.42J
And the amount (urrent Assets in the final year 2AAE is C2B.4EJ.
Cas and BanA <a&an4es
The amount of (ash and ban" balances in the year 2AA$ as .s.BC7AEE and it becomes
.s.5A3BBA in the year 2AA4 ith an increment of .s.BC7AEE
The amount of (ash and ban" balances in the year 2AA4 as .s.5A3BBA and it becomes
.s.E$74CA in the year 2AA5 ith an increment of .s.2$$$EA
The amount of (ash and ban" balances in the year 2AA5 as .s.E$74CA and it becomes
.s.$23B33 in the year 2AA7 ith a decrement of .s.$2$$47
23
The amount of (ash and ban" balances in the year 2AA7 as .s.$23B33 and it becomes
.s.37E3CAC in the year 2AAE ith an increment of .s.335A775
And the amount of (ash and ban" balances in the final year 2AAE is .s.37E3CAC
The amount of (ash and ban" balances in the year 2AA$ as BAA.AAJ and it becomes
3A5.ABJ in the year 2AA4 ith an increment of 2A5.ABJ
The amount of (ash and ban" balances in the year 2AA4 as 3A5.ABJ and it becomes
$3A.A5J in the year 2AA5 ith an increment of B2$.A4J
The amount of (ash and ban" balances in the year 2AA5 as $3A.A5J and it becomes
2B$.5CJ in the year 2AA7 ith a decrement of 2B4.37J
The amount of (ash and ban" balances in the year 2AA7 as 2B$.5CJ and it becomes
BCBC.CBJ in the year 2AAE ith an increment of B7A4.22J
And the amount of (ash and ban" balances in the final year 2AAE is BCBC.CBJ
Deposit a44ounts
The amount of deposit accounts in the first year 2AA$ as .s.B37$33 and it becomes
.s.45AB77 in the year 2AA4 ith an increment of .s.$227$$
The amount of deposit accounts in the year 2AA4 as .s.45ABB7 and it becomes
.s.7CEB22 in the year 2AA5 ith an increment of .s.237C$4
The amount of deposit accounts in the year 2AA5 as .s.7CEB22 and it becomes
.s.$A2CA7 in the year 2AA7 ith a 2ecrement of .s.3C42B4
The amount of deposit accounts in the year 2AA7 as .s.$A2CA7 and it becomes
.s.37455BB in the year 2AAE ith an increment of .s.33437A$
And the amount of deposit accounts in the final year 2AAE is .s.374555BB
The amount of deposit accounts in the first year 2AA$ as BAA.AAJ and it becomes
$A7.5AJ in the year 2AA4 ith an increment of 2A7.5AJ
The amount of deposit accounts in the year 2AA4 as $A7.5AJ and it becomes 4EA.7$J
in the year 2AA5 ith an increment of B73.B$J
The amount of deposit accounts in the year 2AA5 as 4EA.7$J and it becomes 2C3.B7J
in the year 2AA7 ith a 2ecrement of 2E7.47J
2$
The amount of deposit accounts in the year 2AA7 as 2C3.B7J and it becomes 2733.$BJ
in the year 2AAE ith an increment of 2$$A.2$J
And the amount of deposit accounts in the final year 2AAE is 2733.$BJ
Current a44ounts
The amount of current accounts in the first year 2AA$ as .s.2B325 and it becomes
.s.24E$A in the year 2AA4 ith increment of .s.$4B$
The amount of current accounts in the year 2AA4 as .s.24E$A and it becomes .s.$C243
in the year 2AA5 ith increment of .s.23$B3
The amount of current accounts in the year 2AA5 as .s.$C243 and it becomes .s.2AA$E
in the year 2AA7 ith 2ecrement of .s.2C2A4
The amount of current account in the year 2AA7 as .s.2AA$E and it becomes .s.27A3C
in the year 2AAE ith increment of .s.5CCB
And the amount of current accounts in the final year 2AAE is .s.27A3C
The amount of current accounts in the first year 2AA$ as BAA.AAJ and it becomes
B2B.B7J in the year 2AA4 ith increment of 2B.B7J
The amount of current accounts in the year 2AA4 as B2B.B7J and it becomes 23A.C4J
in the year 2AA5 ith increment of BAC.7EJ
The amount of current accounts in the year 2AA5 as 23A.C4J and it becomes C$.ABJ in
the year 2AA7 ith 2ecrement of B35.C$J
The amount of current account in the year 2AA7 as C$.ABJ and it becomes B25.7CJ in
the year 2AAE ith increment of 32.7EJ
And the amount of current accounts in the final year 2AAE is B25.7CJ
Co&&e4tion a44ounts
The amount of current account in the first year 2AA$ as .s.3E274 and it becomes
.s.B5E3B in the year 2AA4 ith decrement of .s.2B$$$
And the amount of collection account in the up coming years 2AA5, 2AA7 and 2AAE is
<ero
24
The amount of current account in the first year 2AA$ as BAA.AAJ and it becomes
$3.C7J in the year 2AA4 ith decrement of 45.A3J
A.AAJ
Cas in and
The amount of cash in hand in the first year 2AA$ as .s.4$ and it becomes .s.252 in the
year 2AA4 ith increment of .s.2AE
The amount of cash in hand in the year 2AA4 as .s.252 and it becomes .s.2B4 in the
year 2AA5 ith decrement of .s.$7
The amount of cash in hand in the year 2AA5 as .s.2B4 and it becomes .s.B7E in the
year 2AA7 ith decrement of .s.37
The amount of cash in hand in the year 2AA7 as .s.B7E and it becomes .s.24C in the
year 2AAE ith increment of .s.EB
And the amount of cash in hand in the final year 2AAE is .s.24C
The amount of cash in hand in the first year 2AA$ as BAA.AAJ and it becomes $E4.BCJ
in the year 2AA4 ith increment of 2E4.BCJ
The amount of cash in hand in the year 2AA4 as .s.$E4.BCJ and it becomes 3CE.B4J in
the year 2AA5 ith decrement of E7.A$J
The amount of cash in hand in the year 2AA5 as 3CE.B4J and it becomes 32C.53J in
the year 2AA7 ith decrement of 5E.42J
The amount of cash in hand in the year 2AA7 as 32C.53J and it becomes $7C.53J in
the year 2AAE ith increment of 24A.AAJ
25
And the amount of cash in hand in the final year 2AAE is $7C.53J
)//= )//0 )//* )//> )//.
"d:an4esB DepositsB prepayments and
oter re4ei:a<&es: (//.//? *).0>? 20.02? ((*>./*? =*2.*@?
To suppliers BAA.AAJ 43.3BJ C2.4CJ 23C4.5CJ $4.4CJ
To employees BAA.AAJ B7$.3CJ 354.A3J B3E.3BJ 44A.7EJ
2ue from associated underta"ing ?
unsecured BAA.AAJ CC.E2J 2E3.A4J A.AAJ A.AAJ
2eposits BAA.AAJ BB3.BEJ B$2.A$J B35.7BJ $35.C$J
Prepayments BAA.AAJ $A.5EJ C3.5CJ 2C.$5J 37.3CJ
%&cise duty BAA.AAJ 3A.E$J A.AAJ A.AAJ A.AAJ
Trend analysis
0.00%
500.00%
1000.00%
1500.00%
2000.00%
2500.00%
3000.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
To sppliers
To e$ployees
De %ro$ associated
ndertakin# & nsecred
Deposits
"repay$ents
'(cise dty
)d*ance ta( &net
+ales ta( re%ndable &net
Deri*ati*e %orei#n crrency
options sed as hed#in#
instr$ent
,nterest accred
"repaid arran#e$ent %ee %or
loans
-ar#in on letters o% credit
.ther recei*ables&
Considered #oods
.thers
27
"d:an4esB DepositsB prepayments and oter re4ei:a<&es:
The amount of advances, deposits, prepayments and other receivables in the first year
2AA$ as .s.734E3 and it becomes .s.$5A$B in the year 2AA4 ith decrement of
.s.274$2
The amount of advances, deposits, prepayments and other receivables in the year 2AA4
as .s.$5A$B and it becomes .s.7A3$A in the year 2AA5 ith decrement of .s.2$2CC
as .s.7A3$A and it becomes .s.E4E74E in the year 2AA7 ith increment of .s.7EE$BE
The amount of cash in hand in the year 2AA7 as .s.E4E74E and it becomes .s.3$4457
in the year 2AAE ith decrement of .s.4B3BCB
And the amount of Advances, 2eposits, prepayments and other receivables in the final
year 2AAE is .s.3$4457
2AA$ as BAA.AAJ and it becomes 52.47J in the year 2AA4 ith decrement of 37.$3J
as 52.47J and it becomes C4.4CJ in the year 2AA5 ith increment of 33.A2J
as C4.4CJ and it becomes BB57.A5J in the year 2AA7 ith increment of BA7B.$7J
The amount of cash in hand in the year 2AA7 as BB57.A5J and it becomes $5C.53J in
the year 2AAE ith decrement of 5C7.$3J
year 2AAE is .s.$5C.53J
)//= )//0 )//* )//> )//.
T%"DE DEBTS (//.//? )@2.=(? 0*...? =@.*>? */.()?
(onsidered goods BAA.AAJ BA4.3$J BB$.$BJ 3$.ECJ A.AAJ
(onsidered doubtful BAA.AAJ BAA.AAJ BAA.AAJ 432.7$J 3AC.3EJ
2E
'ecure?considered goods BAA.AAJ 37B.C5J A.AAJ 42.3$J BBC.44J
Provision for doubtful debts BAA.AAJ BAA.AAJ BAA.AAJ 432.7$J 3AC.3EJ
Trend analysis
0.00%
100.00%
200.00%
300.00%
400.00%
500.00%
600.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
T/)D' D'0T+
1nsecred
Considered #oods
Considered dobt%l
+ecre&considered #oods
2ess3 "ro*ision %or dobt%l
debts
T%"DE DEBTS
The amount of trade debts in the first year 2AA$ as .s.$$7EC and it becomes .s.BA723B
in the year 2AA4 ith decrement of .s.52$$2
The amount of trade debts in the first year 2AA4 as .s.BA723B and it becomes .s.24$74
in the year 2AA5 ith increment of .s.EB745
The amount of trade debts in the first year 2AA5 as .s.24$74 and it becomes .s.BC44E
in the year 2AA7 ith decrement of .s.4CB7
The amount of trade debts in the first year 2AA7 as .s.BC44E and it becomes .s.25C27
in the year 2AAE ith increment of .s.735C
And the amount of trade debts in the final year 2AAE is .s.25C27
The amount of trade debts in the first year 2AA$ as BAA.AAJ and it becomes 23C.$BJ in
the year 2AA4 ith increment of B3C.$BJ
The amount of trade debts in the first year 2AA4 as 23C.$BJ and it becomes 45.EEJ in
the year 2AA5 ith decrement of BE2.43J
The amount of trade debts in the first year 2AA5 as 45.EEJ and it becomes $3.57J in
the year 2AA7 ith decrement of B3.2BJ
The amount of trade debts in the first year 2AA7 as $3.57J and it becomes 5A.B2J in
the year 2AAE ith increment of B5.$4J
2C
And the amount of trade debts in the final year 2AAE is 5A.B2J
Considered 3oods
The amount of considered goods in the first year 2AA$ as .s.22255 and it becomes
.s.23$4$ in the year 2AA4 ith increment of .s.BBEE
The amount of considered goods in the year 2AA4 as .s.23$4$ and it becomes .s.24$74
in the year 2AA5 ith increment of .s.2A2B
The amount of considered goods in the year 2AA5 as .s.24$74 and it becomes .s.775C
in the year 2AA7 ith decrement of .s.B77A5
The amount of considered goods in the year 2AA7 as .s.775C and it becomes .s.A in the
year 2AAE
And the amount of considered goods in the final year 2AAE is .s.A
The amount of considered goods in the first year 2AA$ as BAA.AAJ and it becomes
BA4.3$J in the year 2AA4 ith increment of 4.3$J
The amount of considered goods in the year 2AA4 as BA4.3$J and it becomes BB$.$BJ
in the year 2AA5 ith increment of C.A7J
The amount of considered goods in the year 2AA5 as BB$.$BJ and it becomes 3$.ECJ
in the year 2AA7 ith decrement of 7C.42J
The amount of considered goods in the year 2AA7 as 3$.ECJ and it becomes A.AAJ in
the year 2AAE
And the amount of considered goods in the final year 2AAE is A.AAJ
Considered dou<t!u&
The amount of considered doubtful in the first year 2AA$ as .s.B457 and it becomes
.s.B457 in the year 2AA4 and 2AA5.
The amount of considered doubtful in the year 2AA5 as .s.B457 and it becomes .s.E3$E
in the year 2AA7 ith increment of .s.57EB
The amount of considered doubtful in the year 2AA7 as .s.E3$E and it becomes .s.$E$E
in the year 2AAE ith decrement of .s.34AA
And the amount of considered doubtful in the final year 2AAE is .s.$E$E
3A
The amount of considered doubtful in the first year 2AA$ as BAA.AAJ and it becomes
BAA.AAJ in the year 2AA4 and 2AA5.
The amount of considered doubtful in the year 2AA5 as BAA.AAJ and it becomes
432.7$J in the year 2AA7 ith increment of $32.7$J
The amount of considered doubtful in the year 2AA7 as 432.7$J and it becomes
3AC.3EJ in the year 2AAE ith decrement of 223.35J
And the amount of considered doubtful in the final year 2AAE is 3AC.3EJ
Se4ure14onsidered 3oods
The amount of secure?considered goods in the first year 2AA$ as .s.22423 and it
becomes .s.E3777 in the year 2AA4 ith increment of .s.5B24$.
The amount of secure?considered goods in the year 2AA4 as .s.E3777 and it becomes
.s.A in the year 2AA5.
The amount of secure?considered goods in the year 2AA7 as .s.BB7EC and it becomes
.s.25C27 in the year 2AAE ith increment of .s.B4B3E.
And the amount of secure?considered goods in the final year 2AAE is .s.25C27.
The amount of secure?considered goods in the first year 2AA$ as BAA.AAJ and it
becomes 37B.C5J in the year 2AA4 ith increment of 27B.C5J
The amount of secure?considered goods in the year 2AA4 as 37B.C5J and it becomes
A.AAJ in the year 2AA5.
The amount of secure?considered goods in the year 2AA7 as 42.3$J and it becomes
BBC.44J in the year 2AAE ith increment of 57.2BJ
And the amount of secure?considered goods in the final year 2AAE is BBC.44J
7ro:ision !or dou<t!u& de<ts
3B
The amount of provision for doubtful debts in the first year 2AA$ as .s.B457 and it
becomes .s.B457 in the year 2AA4 and 2AA5.
The amount of provision for doubtful debts in the year 2AA7 as .s.E3$E and it becomes
.s.$E$E in the year 2AAE ith decrement of .s.34AA.
And the amount of provision for doubtful debts in the final year 2AAE is .s.$E$E.
The amount of provision for doubtful debts in the first year 2AA$ as BAA.AAJ and it
becomes BAA.AAJ in the year 2AA4 and 2AA5.
The amount of provision for doubtful debts in the year 2AA7 as 432.7$J and it becomes
3AC.3EJ in the year 2AAE ith decrement of 223.35
And the amount of provision for doubtful debts in the final year 2AAE is 3AC.3EJ
)//= )//0 )//* )//> )//.
STOC6 I' T%"DE (//.//? 2/../? )@0.0=? )2>.0.? @>@.0)?
.a and pac"ing material BAA.AAJ B2B.32J BE$.AAJ B47.BCJ 2A4.$BJ
/or" in process BAA.AAJ $B.E7J 337.$2J $B4.A4J 4$C.$$J
Finished goods BAA.AAJ B3E.EAJ B24.7$J 237.2BJ 2$E.57J
Trend analysis
0.00%
100.00%
200.00%
300.00%
400.00%
500.00%
600.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e+T.C4 ,5 T/)D'
/a6 and packin# $aterial
7ork in process
8inished #oods
STOC6 I' T%"DE
32
The amount of stoc" in trade in the first year 2AA$ as .s.5B5AA and it becomes
.s.44C3B in the year 2AA4 ith decrement of .s.455C
The amount of stoc" in trade in the year 2AA4 as .s.44C3B and it becomes .s.B$4ACA in
the year 2AA5 ith increment of .s.ECB4C.
The amount of stoc" in trade in the year 2AA5 as .s.B$4ACA and it becomes .s.BE33AC
in the year 2AA7 ith increment of .s.3E2BC.
The amount of stoc" in trade in the year 2AA7 as .s.BE33AC and it becomes .s.23AAEC
in the year 2AAE ith increment of .s.$57EA.
And the amount of stoc" in trade in the final year 2AAE is .s.23AAEC.
The amount of stoc" in trade in the first year 2AA$ as BAA.AAJ and it becomes CA.EAJ
in the year 2AA4 ith decrement of C.2AJ
The amount of stoc" in trade in the year 2AA4 as CA.EAJ and it becomes 234.4$J in the
year 2AA5 ith increment of B$$.7$J
The amount of stoc" in trade in the year 2AA5 as 234.4$J and it becomes 2C7.4EJ in
the year 2AA7 ith increment of 52.A$J
The amount of stoc" in trade in the year 2AA7 as 2C7.4EJ and it becomes 373.42J in
the year 2AAE ith increment of 74.C$J
And the amount of stoc" in trade in the final year 2AAE is 373.42J
%aC and pa4Ain3 materia&
The amount of ra and pac"ing material in the first year 2AA$ as .s.B422$ and it
becomes .s.BE$5C in the year 2AA4 ith increment of .s.32$4
The amount of ra and pac"ing material in the year 2AA4 as .s.BE$5C and it becomes
.s.2EAB2 in the year 2AA5 ith increment of .s.C4$3
The amount of ra and pac"ing material in the year 2AA5 as .s.2EAB2 and it becomes
.s.23C3B in the year 2AA7 ith decrement of .s.$AEB
The amount of ra and pac"ing material in the year 2AA7 as .s.23C3B and it becomes
.s.3B27B in the year 2AAE ith increment of .s.73$A
And the amount of ra and pac"ing material in the final year 2AAE is .s.3B27B
33
The amount of ra and pac"ing material in the first year 2AA$ as BAA.AAJ and it
becomes B2B.32J in the year 2AA4 ith increment of 2B.32J
The amount of ra and pac"ing material in the year 2AA4 as B2B.32J and it becomes
BE$.AAJ in the year 2AA5 ith increment of 52.5EJ
The amount of ra and pac"ing material in the year 2AA5 as BE$.AAJ and it becomes
B47.BCJ in the year 2AA7 ith decrement of 25.EBJ
The amount of ra and pac"ing material in the year 2AA7 as B47.BCJ and it becomes
2A4.$BJ in the year 2AAE ith increment of $E.22J
And the amount of ra and pac"ing material in the final year 2AAE is 2A4.$BJ
8orA in pro4ess
The amount of or" in process in the first year 2AA$ as .s.2775B and it becomes
.s.BB52$ in the year 2AA4 ith decrement of .s.B5B37
The amount of or" in process in the year 2AA4 as .s.BB52$ and it becomes .s.C357B
in the year 2AA5 ith increment of .s.E2A$7.
The amount of or" in process in the year 2AA5 as .s.C357B and it becomes .s.BB422B
in the year 2AA7 ith increment of .s.2B44A.
The amount of or" in process in the year 2AA7 as .s.BB422B and it becomes
.s.B4242C in the year 2AAE ith increment of .s.373AE.
And the amount of or" in process in the final year 2AAE is .s.B4242C.
The amount of or" in process in the first year 2AA$ as BAA.AAJ and it becomes
$B.E7J in the year 2AA4 ith decrement of 4E.B3J
The amount of or" in process in the year 2AA4 as $B.E7J and it becomes 337.$2J in
the year 2AA5 ith increment of 2C4.44J
The amount of or" in process in the year 2AA5 as 337.$2J and it becomes $B4.A4J in
the year 2AA7 ith increment of 77.53J
3$
The amount of or" in process in the year 2AA7 as $B4.A4J and it becomes 4$C.$$J in
the year 2AAE ith increment of B3$.3CJ
And the amount of or" in process in the final year 2AAE is 4$C.$$J
Finised 3oods
The amount of finished goods in the first year 2AA$ as .s.BE5B4 and it becomes
.s.24E3E in the year 2AA4 ith increment of .s.7223.
The amount of finished goods in the year 2AA4 as .s.24E3E and it becomes .s.23$A7 in
the year 2AA5 ith decrement of .s.2$3B.
The amount of finished goods in the year 2AA5 as .s.23$A7 and it becomes .s.$$B47 in
the year 2AA7 ith increment of .s.2A74A.
The amount of finished goods in the year 2AA7 as .s.$$B47 and it becomes .s.$52EC in
the year 2AAE ith increment of .s.2B32.
And the amount of finished goods in the final year 2AAE is .s.$52EC.
The amount of finished goods in the first year 2AA$ as BAA.AAJ and it becomes
B3E.EAJ in the year 2AA4 ith increment of 3E.EAJ
The amount of finished goods in the year 2AA4 as B3E.EAJ and it becomes B24.7$J in
the year 2AA5 ith decrement of B3.A5J
The amount of finished goods in the year 2AA5 as B24.7$J and it becomes 237.2BJ in
the year 2AA7 ith increment of BBB.$7J
The amount of finished goods in the year 2AA7 as 237.2BJ and it becomes 2$E.57J in
the year 2AAE ith increment of BB.$5J
And the amount of finished goods in the final year 2AAE is 2$E.57J
)//= )//0 )//* )//> )//.
STORES, SPARES AND LOOSE 100.00% 182.60% 248.68% 237.47% 4!.77%
34
TOOLS
+tores 100.00% 149.83% 276.30% 86.30% 578.20%
+pares 100.00% 206.65% 236.79% 333.02% 404.46%
2oose tools 100.00% 114.73% 168.79% 175.80% 188.62%
Trend analysis
0.00%
200.00%
400.00%
600.00%
800.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
+T./'+: +")/'+ )5D
2..+' T..2+
+tores
+pares
2oose tools
STO%ESB S7"%ES "'D LOOSE TOOLS
The amount of stores, spares and loose tools in the first year 2AA$ as .s.BC7$AA and it
becomes .s.35A$42 in the year 2AA4 ith increment of .s.B53A42.
The amount of stores, spares and loose tools in the year 2AA4 as .s.35A$42 and it
becomes .s.$CAEE7 in the year 2AA5 ith increment of .s.B3A$34.
The amount of stores, spares and loose tools in the year 2AA5 as .s.$CAEE7 and it
becomes .s.$5E75C in the year 2AA7 ith decrement of .s.22BBE.
The amount of stores, spares and loose tools in the year 2AA7 as .s.$5E75C and it
becomes .s.CA74CB in the year 2AAE ith increment of .s.$3EE22.
And the amount of stores, spares and loose tools in the final year 2AAE is .s.CA74CB.
The amount of stores, spares and loose tools in the first year 2AA$ as BAA.AAJ and it
becomes BE2.5AJ in the year 2AA4 ith increment of E2.5AJ
The amount of stores, spares and loose tools in the year 2AA4 as BE2.5AJ and it
becomes 2$E.5EJ in the year 2AA5 ith increment of 55.AEJ
The amount of stores, spares and loose tools in the year 2AA5 as 2$E.5EJ and it
becomes 237.$7J in the year 2AA7 ith decrement of BB.2BJ
35
The amount of stores, spares and loose tools in the year 2AA7 as 237.$7J and it
becomes $4C.77J in the year 2AAE ith increment of 222.3AJ
And the amount of stores, spares and loose tools in the final year 2AAE is $4C.77J
Stores
The amount of stores in the first year 2AA$ as .s.7BE37 and it becomes .s.BA7533 in
the year 2AA4 ith increment of .s.347C5.
The amount of stores in the year 2AA4 as .s.BA7533 and it becomes .s.BCE$E4 in the
year 2AA5 ith increment of .s.CAE42.
The amount of stores in the year 2AA5 as .s.BCE$E4 and it becomes .s.5BCC7 in the
year 2AA7 ith decrement of .s.B35$EE.
The amount of stores in the year 2AA7 as .s.5BCC7 and it becomes .s.$B434E in the
year 2AAE ith increment of .s.34335B.
And the amount of stores in the final year 2AAE is .s.$B434E.
The amount of stores in the first year 2AA$ as BAA.AAJ and it becomes B$C.E3J in the
year 2AA4 ith increment of $C.E3J
The amount of stores in the year 2AA4 as B$C.E3J and it becomes 275.3AJ in the year
2AA5 ith increment of B25.$7J
The amount of stores in the year 2AA5 as 275.3AJ and it becomes E5.3AJ in the year
2AA7 ith decrement of BCA.AAJ
The amount of stores in the year 2AA7 as E5.3AJ and it becomes 47E.2AJ in the year
2AAE ith increment of $CB.CAJ
And the amount of stores in the final year 2AAE is 47E.2AJ
Spares
The amount of spares in the first year 2AA$ as .s.BBE32$ and it becomes .s.2$$4B$ in
the year 2AA4 ith increment of .s.B25BCA.
The amount of spares in the year 2AA4 as .s.2$$4B$ and it becomes .s.2EABE3 in the
year 2AA5 ith increment of .s.3455C.
37
The amount of spares in the year 2AA5 as .s.2EABE3 and it becomes .s.3C$A$5 in the
year 2AA7 ith increment of .s.BB3E53.
The amount of spares in the year 2AA7 as .s.3C$A$5 and it becomes .s.$7E47C in the
year 2AAE ith increment of .s.E$433.
And the amount of spares in the final year 2AAE is .s.$7E47C.
The amount of spares in the first year 2AA$ as BAA.AAJ and it becomes 2A5.54J in the
year 2AA4 ith increment of BA5.54J
The amount of spares in the year 2AA4 as 2A5.54J and it becomes 235.7CJ in the year
2AA5 ith increment of 3A.B$J
The amount of spares in the year 2AA5 as 235.7CJ and it becomes 333.A2J in the year
2AA7 ith increment of C5.23J
The amount of spares in the year 2AA7 as 333.A2J and it becomes $A$.$5J in the year
2AAE ith increment of 7B.$$
And the amount of spares in the final year 2AAE is $A$.$5J
Loose too&s
The amount of loose tools in the first year 2AA$ as .s.723C and it becomes .s.E3A4 in
the year 2AA4 ith increment of .s.BA55.
The amount of loose tools in the first year 2AA4 as .s.E3A4 and it becomes .s.B22BC in
the year 2AA5 ith increment of .s.3CB$.
The amount of loose tools in the first year 2AA5 as .s.B22BC and it becomes .s.B2725
in the year 2AA7 ith increment of .s.4A7.
The amount of loose tools in the first year 2AA7 as .s.B2725 and it becomes .s.B354$
in the year 2AAE ith increment of .s.C2E.
And the amount of spares in the final year 2AAE is .s.B354$.
The amount of loose tools in the first year 2AA$ as BAA.AAJ and it becomes BB$.73J in
the year 2AA4 ith increment of B$.73J
The amount of loose tools in the year 2AA4 as BB$.73J and it becomes B5E.7CJ in the
year 2AA5 ith increment of 4$.A5J
3E
The amount of loose tools in the year 2AA5 as B5E.7CJ and it becomes B74.EAJ in the
year 2AA7 ith increment of 7.ABJ
The amount of loose tools in the year 2AA7 as B74.EAJ and it becomes BEE.52J in the
year 2AAE ith increment of B2.E3J.
And the amount of spares in the final year 2AAE is BEE.52J
)//= )//0 )//* )//> )//.
LO'G TE%M DE7OSITS (//.//? ()>.@0? ()>.@0? ()>.@0? ()>.@0?
Islamabad %lectric 'upply
(ompany 6imited BAA.AAJ BAA.AAJ BAA.AAJ BAA.AAJ BAA.AAJ
'ui =orthern 1as Pipelines
6imited BAA.AAJ B55.7$J B55.7$J B55.7$J B55.7$J
3C
"a#ance S$eet
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
50000
2004 2005 2006 2007 2008
Years
A
%
&
'
n
t
2.5; T'/- D'".+,T+
,sla$abad 'lectric +pply
Co$pany 2i$ited
+i 5orthern ;as "ipelines
2i$ited
LO'G TE%M DE7OSITS
The amount of long term deposits in the first year 2AA$ as .s.355AA and it becomes
.s.$55BB in the year 2AA4, 2AA5, 2AA7 and 2AAE ith decrement of .s.BAABB.
The amount of long term deposits in the first year 2AA$ as BAA.AAJ and it becomes
B27.34J in the year 2AA4, 2AA5, 2AA7 and 2AAE ith decrement of 27.34J
Is&ama<ad E&e4tri4 Supp&y Company Limited
The amount of Islamabad %lectric 'upply (ompany 6imited in the year 2AA$, 2AA4,
2AA5, 2AA7 and 2AAE as .s.2B5AA.
2AA5, 2AA7 and 2AAE as BAA.AAJ
$A
Sui 'ortern Gas 7ipe&ines Limited
The amount of 'ui =orthern 1as Pipelines 6imited in the first year 2AA$ as .s.B4AAA
and it becomes .s.24ABB in the year 2AA4, 2AA5, 2AA7 and 2AAE ith increment of
.s.BAABB.
The amount of 'ui =orthern 1as Pipelines 6imited in the first year 2AA$ as BAA.AAJ
and it becomes B55.7$J in the year 2AA4, 2AA5, 2AA7 and 2AAE ith increment of
55.7$J.
)//= )//0 )//* )//> )//.
LO'G TE%M "D5"'CES 1
Considered 3oods (//.//? (//.//? 2/.//? ././/?
'ui =orthern 1as Pipelines 6imited BAA.AAJ CA.AAJ
Amount receivables ithin B2
months shon under current assets BAA.AAJ BAA.AAJ
Trend analysis
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
2.5; T'/- )D<)5C'+ &
Considered #oods
2i$ited
2ess3 )$ont recei*ables 6ithin
12 $onths sho6n nder crrent
assets
$B
LO'G TE%M "D5"'CES 1 Considered 3oods
The amount of 60=1 T%.) A2*A=(%' ? (onsidered goods in the first year 2AA$
as .s.A and it becomes .s.CAAA in the year 2AA4 and 2AA5 ith increment of .s.CAAA.
The amount of 60=1 T%.) A2*A=(%' ? (onsidered goods in the year 2AA7 as
.s.EBAA and it becomes .s.72AA in the year 2AAE ith decrement of .s.CAA.
And the amount of long term advances?considered goods in the final year 2AAE is
.s.72AA
The amount of 60=1 T%.) A2*A=(%' ? (onsidered goods in the year 2AA4 and
2AA5 as BAA.AAJ and it becomes CA.AAJ in the year 2AA7 ith decrement of BA.AAJ
CA.AAJ and it becomes EA.AAJ in the year 2AAE ith decrement of BA.AAJ
And the amount of long term advances?considered goods in the final year 2AAE is EA.AAJ
The amount of 'ui =orthern 1as Pipelines 6imited in the year 2AA$, 2AA4 and 2AA5 as
.s.A and it becomes .s.CAAA in the year 2AA7 ith increment of .s.CAAA.
And the amount of 'ui =orthern 1as Pipelines 6imited in the final year 2AAE is .s.EBAA.
The amount of 'ui =orthern 1as Pipelines 6imited in the year 2AA7 as BAA.AAJ and it
becomes CA.AAJ in the year 2AAE ith decrement of BA.AAJ
And the amount of 'ui =orthern 1as Pipelines 6imited in the final year 2AAE is CA.AAJ.
)//= )//0 )//* )//> )//.
FI9ED "SSETS 1 Tan3i<&e: (//.//? 2..0/? 2*.=2? 2)...? (0/.)>?
Property, Plant and e>uipment BAA.AAJ CE.4AJ C5.$CJ C2.EEJ B4A.27J
$2
Trend analysis
0.00%
50.00%
100.00%
150.00%
200.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
8,='D )++'T+ & Tan#ible3
"roperty: "lant and e>ip$ent
FI9ED "SSETS D Tan3i<&e
The amount of fi&ed assets?tangible in the first year 2AA$ as .s.$72C24$ and it
becomes .s.$54E272 in the year 2AA4 ith decrement of .s.7ACE2.
The amount of fi&ed assets?tangible in the year 2AA4 as .s.$54E272 and it becomes
.s.$453BB4 in the year 2AA5 ith decrement of .s.C4B47.
The amount of fi&ed assets?tangible in the year 2AA5 as .s.$453BB4 and it becomes
.s.$3C2$4A in the year 2AA7 ith decrement of .s.B7A554.
The amount of fi&ed assets?tangible in the year 2AA7 as .s.$3C2$4A and it becomes
.s.7BA54CC in the year 2AAE ith increment of .s.27B$B$C.
And the amount of fi&ed assets?tangible in the final year 2AAE is .s.7BA54CC.
The amount of fi&ed assets?tangible in the first year 2AA$ as BAA.AAJ and it becomes
CE.4AJ in the year 2AA4 ith decrement of B.4AJ
The amount of fi&ed assets?tangible in the year 2AA4 as CE.4AJ and it becomes C5.$CJ
in the year 2AA5 ith decrement of 2.ABJ
The amount of fi&ed assets?tangible in the year 2AA5 as C5.$CJ and it becomes C2.EEJ
in the year 2AA7 ith decrement of 3.5BJ
The amount of fi&ed assets?tangible in the year 2AA7 as C2.EEJ and it becomes
B4A.27J in the year 2AAE ith increment of 47.3CJ
And the amount of fi&ed assets?tangible in the final year 2AAE is B4A.27J
$3
)//= )//0 )//* )//> )//.
T&ta# Assets 100.00% 10.30% 104.87% 108.30% 210.72%
Tren( Ana#)s*s
0.00%
50.00%
100.00%
150.00%
200.00%
250.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
Total )ssets
Tota& "ssets
The amount of total assets in the first year 2AA$ as .s.4CBA343 and it becomes
.s.52237EE in the year 2AA4 ith increment of .s.3B3$34.
The amount of total assets in the year 2AA4 as .s.52237EE and it becomes .s.5BCEBAE
in the year 2AA5 ith decrement of .s.245EA.
The amount of total assets in the year 2AA5 as .s.5BCEBAE and it becomes .s.5$AA5EE
in the year 2AA7 ith increment of .s.2A24EA.
The amount of total assets in the year 2AA7 as .s.5$AA5EE and it becomes .s.B2$4$$C3
in the year 2AAE ith increment of .s.5A43EA4.
And the amount of total assets in the final year 2AAE is .s.B2$4$$C3
The amount of total assets in the first year 2AA$ as BAA.AAJ and it becomes BA4.3AJ in
the year 2AA4 ith increment of 4.3AJ
$$
The amount of total assets in the year 2AA4 as BA4.3AJ and it becomes BA$.E7J in the
year 2AA5 ith decrement of A.$3J
The amount of total assets in the year 2AA5 as BA$.E7J and it becomes BAE.3AJ in the
year 2AA7 ith increment of 3.$3J
The amount of total assets in the year 2AA7 as BAE.3AJ and it becomes 2BA.72J in the
year 2AAE ith increment of BA2.$2J
And the amount of total assets in the final year 2AAE is 2BA.72J
)//= )//0 )//* )//> )//.
Trade and oter paya<&es: (//.//? (/(.(2? (0=.0=? (>(.2)? (.(./(?
(reditors BAA.AAJ BAA.7AJ B3A.CBJ B7C.BBJ B$$.47J
Accrued liabilities BAA.AAJ BA4.E2J BAA.A7J BE7.34J 274.$3J
.etention money BAA.AAJ C7.35J BBE.7BJ BBA.7CJ B$3.$2J
'ecurity deposits BAA.AAJ BB3.E2J B$C.BCJ B43.37J B$$.CEJ
Advances from customers BAA.AAJ BE3.47J 24$.A7J 2C3.BBJ B7E.E2J
/or"ersH ,Profit- Participation Fund BAA.AAJ 23$.2AJ BA3.E$J 5B.BBJ
$4
/or"ersH /elfare fund BAA.AAJ B47.57J
Trend analysis
0.00%
20000.00%
40000.00%
60000.00%
80000.00%
100000.00%
120000.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
Trade and other payables3
Creditors
)ccred liabilities
/etention $oney
+esrity deposits
)d*ances %ro$ csto$ers
7orkers? @"ro%itA
"articipation 8nd
7orkers? 7el%are %nd
+ales ta( payable& net
'(cise dty payable
.ther liabilities
Co$pensated absences
1nclai$ed di*idend
Trade and oter paya<&es
The amount of trade and other payables in the first year 2AA$ as .s. 272$75 and it
becomes .s.2747BE in the year 2AA4 ith increment of .s.32$2.
The amount of trade and other payables in the year 2AA4 as .s.2747BE and it becomes
.s.$2BA7$ in the year 2AA5 ith increment of .s.B$4345.
The amount of trade and other payables in the year 2AA5 as .s.$2BA7$ and it becomes
.s.$5E$$7 in the year 2AA7 ith increment of .s.$7373.
The amount of trade and other payables in the year 2AA7 as .s.$5E$$7 and it becomes
.s.$C32BA in the year 2AAE ith increment of .s.2$753.
And the amount of trade and other payables in the final year 2AAE is .s.$C32BA
The amount of trade and other payables in the first year 2AA$ as BAA.AAJ and it
becomes BAB.BCJ in the year 2AA4 ith increment of B.BCJ
The amount of trade and other payables in the year 2AA4 as BAB.BCJ and it becomes
B4$.4$J in the year 2AA5 ith increment of 43.34J
The amount of trade and other payables in the year 2AA5 as B4$.4$J and it becomes
B7B.C2J in the year 2AA7 ith increment of B7.3EJ
$5
The amount of trade and other payables in the year 2AA7 as B7B.C2J and it becomes
BEB.ABJ in the year 2AAE ith increment of C.ACJ
And the amount of trade and other payables in the final year 2AAE is BEB.ABJ
Creditors
The amount of creditors in the first year 2AA$ as .s.$454B and it becomes .s.$4C5C in
the year 2AA4 ith increment of .s.3BE.
The amount of creditors in the year 2AA4 as .s.$4C5C and it becomes .s.4C753 in the
year 2AA5 ith increment of .s.B37C$.
The amount of creditors in the year 2AA5 as .s.4C753 and it becomes .s.EB755 in the
year 2AA7 ith increment of .s.22AA3.
The amount of creditors in the year 2AA7 as .s.EB755 and it becomes .s.54CC7 in the
year 2AAE ith decrement of .s.B475C.
And the amount of creditors in the final year 2AAE is .s.54CC7.
The amount of creditors in the first year 2AA$ as BAA.AAJ and it becomes BAA.7AJ in
the year 2AA4 ith increment of .A.7AJ
The amount of creditors in the year 2AA4 as BAA.7AJ and it becomes B3A.CBJ in the
year 2AA5 ith increment of 3A.2BJ
The amount of creditors in the year 2AA5 as B3A.CBJ and it becomes B7C.BBJ in the
year 2AA7 ith increment of $E.2AJ
The amount of creditors in the year 2AA7 as B7C.BBJ and it becomes B$$.47J in the
year 2AAE ith decrement of 3$.4$J
And the amount of creditors in the final year 2AAE is B$$.47J
"44rued &ia<i&ities
The amount of accrued liabilities in the first year 2AA$ as .s.53$24 and it becomes
.s.57BBC in the year 2AA4 ith increment of .s.35C$.
The amount of accrued liabilities in the year 2AA4 as .s.57BBC and it becomes
.s.53$7A in the year 2AA5 ith decrement of .s.35$C.
$7
The amount of accrued liabilities in the year 2AA5 as .s.53$7A and it becomes
.s.BBEE2E in the year 2AA7 ith increment of .s.4434E.
The amount of accrued liabilities in the year 2AA7 as .s.BBEE2E and it becomes
.s.B7$5C2 in the year 2AAE ith increment of .s.44E5$.
And the amount of accrued liabilities in the final year 2AAE is .s.B7$5C2
The amount of accrued liabilities in the first year 2AA$ as BAA.AAJ and it becomes
BA4.E2J in the year 2AA4 ith increment of 4.E2J
The amount of accrued liabilities in the year 2AA4 as BA4.E2J and it becomes BAA.A7J
in the year 2AA5 ith decrement of 4.74J
The amount of accrued liabilities in the year 2AA5 as BAA.A7J and it becomes BE7.34J
in the year 2AA7 ith increment of E7.2EJ
The amount of accrued liabilities in the year 2AA7 as BE7.34J and it becomes 274.$3J
in the year 2AAE ith increment of EE.AEJ
And the amount of accrued liabilities in the final year 2AAE is 274.$3J
%etention money
The amount of retention money in the first year 2AA$ as .s.BAEBC and it becomes
.s.BA433 in the year 2AA4 ith decrement of .s.2E5.
The amount of retention money in the year 2AA4 as .s.BA433 and it becomes .s.B2E$3
in the year 2AA5 ith increment of .s.23BA.
The amount of retention money in the year 2AA5 as .s.B2E$3 and it becomes .s.BBCE5
in the year 2AA7 ith decrement of .s.E47.
The amount of retention money in the year 2AA7 as .s.BBCE5 and it becomes .s.B44B7
in the year 2AAE ith increment of .s.343B.
And the amount of retention money in the final year 2AAE is .s.B44B7
The amount of retention money in the first year 2AA$ as BAA.AAJ and it becomes
C7.35J in the year 2AA4 ith decrement of 2.5$J
The amount of retention money in the year 2AA4 as C7.35J and it becomes BBE.7BJ in
the year 2AA5 ith increment of 2B.34J
$E
The amount of retention money in the year 2AA5 as BBE.7BJ and it becomes BBA.7CJ
in the year 2AA7 ith decrement of 7.C2J
The amount of retention money in the year 2AA7 as BBA.7CJ and it becomes B$3.$2J
in the year 2AAE ith increment of 32.53J
And the amount of retention money in the final year 2AAE is B$3.$2J
Se4urity deposits
The amount of security deposits in the first year 2AA$ as .s.24$52 and it becomes
.s.2ECE2 in the year 2AA4 ith increment of .s.342A.
The amount of security deposits in the year 2AA4 as .s.2ECE2 and it becomes .s.37CE5
in the year 2AA5 ith increment of .s.CAA$.
The amount of security deposits in the year 2AA5 as .s.37CE5 and it becomes .s.3CA4B
in the year 2AA7 ith increment of .s.BA54.
The amount of security deposits in the year 2AA7 as .s.3CA4B and it becomes .s.35CB5
in the year 2AAE ith decrement of .s.2B34.
And the amount of security deposits in the final year 2AAE is .s.35CB5.
The amount of security deposits in the first year 2AA$ as BAA.AAJ and it becomes
BB3.E2J in the year 2AA4 ith increment of B3.E2J
The amount of security deposits in the year 2AA4 as BB3.E2J and it becomes B$C.BCJ
in the year 2AA5 ith increment of 34.37J
The amount of security deposits in the year 2AA5 as B$C.BCJ and it becomes B43.37J
in the year 2AA7 ith increment of $.BEJ
The amount of security deposits in the year 2AA7 as B43.37J and it becomes B$$.CEJ
in the year 2AAE ith decrement of E.3CJ
And the amount of security deposits in the final year 2AAE is B$$.CEJ
"d:an4es !rom 4ustomers
The amount of advances from customers in the first year 2AA$ as .s.23B2B and it
becomes .s.$2$$$ in the year 2AA4 ith increment of .s.BC323.
$C
The amount of advances from customers in the year 2AA4 as .s.$2$$$ and it becomes
.s.4E7$$ in the year 2AA5 ith increment of .s.B53AA.
The amount of advances from customers in the year 2AA5 as .s.4E7$$ and it becomes
.s.5777A in the year 2AA7 ith increment of .s.CA25.
The amount of advances from customers in the year 2AA7 as .s.5777A and it becomes
.s.$B3$$ in the year 2AAE ith decrement of .s.25$25.
And the amount of advances from customers in the final year 2AAE is .s.$B3$$.
The amount of advances from customers in the first year 2AA$ as BAA.AAJ and it
becomes BE3.47J in the year 2AA4 ith increment of E3.47J
The amount of advances from customers in the year 2AA4 as BE3.47J and it becomes
24$.A7J in the year 2AA5 ith increment of 7A.4AJ
The amount of advances from customers in the year 2AA5 as 24$.A7J and it becomes
2C3.BBJ in the year 2AA7 ith increment of 3C.A$J
The amount of advances from customers in the year 2AA7 as 2C3.BBJ and it becomes
B7E.E2J in the year 2AAE ith decrement of BB$.2CJ
And the amount of advances from customers in the final year 2AAE is B7E.E2J
8orAersE +7ro!it- 7arti4ipation Fund
The amount of /or"ersH ,Profit- Participation Fund in the first year 2AA$ as .s.A and it
becomes .s.3CC$C in the year 2AA4 ith increment of .s.3CC$C.
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA4 as .s.3CC$C and it
becomes .s.C3452 in the year 2AA5 ith increment of .s.435B3.
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA5 as .s.C3452 and it
becomes .s.$B$E3 in the year 2AA7 ith decrement of .s.42A7C.
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA7 as .s.$B$E3 and it
becomes .s.2$$B3 in the year 2AAE ith decrement of .s.B7A7A.
And the amount of /or"ersH ,Profit- Participation Fund in the final year 2AAE is
.s.2$$B3.
4A
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA4 as BAA.AAJ and it
becomes 23$.2AJ in the year 2AA5 ith increment of B3$.2AJ
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA5 as 23$.2AJ and it
becomes BA3.E$J in the year 2AA7 ith decrement of B3A.35J
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA7 as BA3.E$J and it
becomes 5B.BBJ in the year 2AAE ith decrement of $2.73J
And the amount of /or"ersH ,Profit- Participation Fund in the final year 2AAE is 5B.BBJ
8orAersE 8e&!are !und
The amount of /or"ersH /elfare fund in the first three year 2AA$, 2AA4 and 2AA5 as
.s.A and it becomes .s.B5AE4 in the year 2AA7 ith increment of .s.B5AE4.
The amount of /or"ersH /elfare fund in the year 2AA7 as .s.B5AE4 and it becomes
.s.24352 in the year 2AAE ith increment of .s.C277.
The amount of /or"ersH /elfare fund in the year 2AA7 as BAA.AAJ and it becomes
B47.57J in the year 2AAE ith increment of 47.57J
And the amount of /or"ersH /elfare fund in the final year 2AAE is B47.57J
)//= )//0 )//* )//> )//.
Babib 0ank 2i$ited 100.00% 65.29% 47.11% 28.93%
-C0 0ank 2i$ited 100.00% 65.29% 47.11% 28.93%
1nited 0ank 2i$ited 100.00% 65.29% 47.11% 28.93%
4B
0ank )l 8alah 2i$ited 100.00% 65.29% 47.11% 28.93%
5,0 0ank 2i$ited 100.00% 61.40%
",C,C Co$$ercial 0ank 2i$ited 100.00% 65.29% 0.00% 0.00%
Trend analysis
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
2oans %ro$ bankin# co$panies &
+ecred3
Babib 0ank 2i$ited
-C0 0ank 2i$ited
1nited 0ank 2i$ited
0ank )l 8alah 2i$ited
5,0 0ank 2i$ited
",C,C Co$$ercial 0ank 2i$ited
,a<i< BanA Limited
The amount of !abib +an" 6imited in the first year 2AA4 as .s.CB5557 and it becomes
.s.4CE$E4 in the year 2AA5 ith decrement of .s.3BEBE2
The amount of !abib +an" 6imited in the year 2AA5 as .s.4CE$E4 and it becomes
.s.$3BEBE in the year 2AA7 ith decrement of .s.B55557
The amount of !abib +an" 6imited in the year 2AA7 as .s.$3BEBE and it becomes
.s.254B42 in the year 2AAE ith decrement of .s.B55555
And the amount of !abib +an" 6imited in the final year 2AAE is .s.254B42.
The amount of !abib +an" 6imited in the first year 2AA4 as BAA.AAJ and it becomes
54.2CJ in the year 2AA5 ith decrement of 3$.7BJ
The amount of !abib +an" 6imited in the year 2AA5 as 54.2CJ and it becomes $7.BBJ
in the year 2AA7 ith decrement of BE.BEJ
42
The amount of !abib +an" 6imited in the year 2AA7 as $7.BBJ and it becomes 2E.C3J
in the year 2AAE ith decrement of BE.BEJ
And the amount of !abib +an" 6imited in the final year 2AAE is B$$.47J
MCB BanA Limited
The amount of )(+ +an" 6imited in the first year 2AA4 as .s.CB5557 and it becomes
The amount of )(+ +an" 6imited in the year 2AA5 as .s.4CE$E4 and it becomes
The amount of )(+ +an" 6imited in the year 2AA7 as .s.$3BEBE and it becomes
And the amount of )(+ +an" 6imited in the final year 2AAE is .s.254B42.
The amount of )(+ +an" 6imited in the first year 2AA4 as BAA.AAJ and it becomes
The amount of )(+ +an" 6imited in the year 2AA5 as 54.2CJ and it becomes $7.BBJ
in the year 2AA7 ith decrement of BE.BEJ
The amount of )(+ +an" 6imited in the year 2AA7 as $7.BBJ and it becomes 2E.C3J
in the year 2AAE ith decrement of BE.BEJ
And the amount of )(+ +an" 6imited in the final year 2AAE is B$$.47J
United BanA Limited
The amount of 3nited +an" 6imited in the first year 2AA4 as .s.$4E333 and it becomes
.s.2CC2$3 in the year 2AA5 ith decrement of .s.B4CACA.
The amount of 3nited +an" 6imited in the year 2AA5 as 2CC2$3 and it becomes
.s.2B4CAC in the year 2AA7 ith decrement of .s.E333$.
The amount of 3nited +an" 6imited in the year 2AA7 as .s.2B4CAC and it becomes
.s.B32475 in the year 2AAE ith decrement of .s.E3333.
And the amount of 3nited +an" 6imited in the final year 2AAE is .s.B32475
43
The amount of 3nited +an" 6imited in the first year 2AA4 as BAA.AAJ and it becomes
The amount of 3nited +an" 6imited in the year 2AA5 as 54.2CJ and it becomes
$7.BBJ in the year 2AA7 ith decrement of BE.BEJ
The amount of 3nited +an" 6imited in the year 2AA7 as $7.BBJ and it becomes
2E.C3J in the year 2AAE ith decrement of BE.BEJ
And the amount of 3nited +an" 6imited in the final year 2AAE is B$$.47J
BanA "& Fa&a Limited
The amount of +an" Al Falah 6imited in the first year 2AA4 as .s.$4E333 and it
becomes .s.2CC2$3 in the year 2AA5 ith decrement of .s.B4CACA.
The amount of +an" Al Falah 6imited in the year 2AA5 as 2CC2$3 and it becomes
The amount of +an" Al Falah 6imited in the year 2AA7 as .s.2B4CAC and it becomes
And the amount of +an" Al Falah 6imited in the final year 2AAE is .s.B32475
The amount of +an" Al Falah 6imited in the first year 2AA4 as BAA.AAJ and it becomes
The amount of +an" Al Falah 6imited in the year 2AA5 as 54.2CJ and it becomes
$7.BBJ in the year 2AA7 ith decrement of BE.BEJ
The amount of +an" Al Falah 6imited in the year 2AA7 as $7.BBJ and it becomes
2E.C3J in the year 2AAE ith decrement of BE.BEJ
And the amount of +an" Al Falah 6imited in the final year 2AAE is B$$.47J
'IB BanA Limited
The amount of =I+ +an" 6imited in the year 2AA7 as .s.B2C4$5 and it becomes
.s.7C4$$ in the year 2AAE ith decrement of .s.4AAA2
4$
And the amount of =I+ +an" 6imited in the final year 2AAE is .s.7C4$$.
The amount of =I+ +an" 6imited in the year 2AA7 as BAA.AAJ and it becomes 5B.$AJ
in the year 2AAE ith decrement of 3E.5AJ
And the amount of =I+ +an" 6imited in the final year 2AAE is 5B.$AJ
7ICIC Commer4ia& BanA Limited
The amount of PI(I( (ommercial +an" 6imited in the first year 2AA4 as .s.274AAA
and it becomes .s.B7C4$4 in the year 2AA5 ith decrement of .s.C4$44
The amount of PI(I( (ommercial +an" 6imited in the year 2AA5 as .s.B7C4$4 and it
becomes A in the year 2AA7 and 2AAE.
The amount of PI(I( (ommercial +an" 6imited in the first year 2AA4 as BAA.AAJ and
it becomes 54.2CJ in the year 2AA5 ith decrement of 3$.7BJ
The amount of PI(I( (ommercial +an" 6imited in the year 2AA5 as 54.2CJ and it
becomes A.AAJ in the year 2AA7 and 2AAE.
)//= )//0 )//* )//> )//.
L&an +r&% re#ate( ,art)-
44
8aCi 8ondation& 1nsecred 100.00% 0.00% 0.00% 0.00%
)$ont payable 6ithin 12 $onths
sho6n nder crrent liabilities 100.00% 99.46% 99.46% 99.46%
Trend analysis 0&+
0.00%
50.00%
100.00%
150.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
2oan %ro$ related party3
8aCi 8ondation& 1nsecred
2ess3a$ont payable 6ithin 12
$onths sho6n nder crrent
liabilities
Fauji Foundation1 Unse4ured
The amount of Fauji Foundation? 3nsecured in the year 2AA4 as .s.50000 and it
becomes .s.A in the years 2AA5, 2AA7 and 2AAE.
The amount of Fauji Foundation? 3nsecured in the year 2AA4 as BAA.AAJ and it
becomes A.AAJ in the years 2AA5, 2AA7 and 2AAE.
)//= )//0 )//* )//> )//.
45
Tota& Lia<i&ities (//.//? (/0.@/? (/=..>? (/..@/? )(/.>)?
Tren( Ana#)s*s
0.00%
50.00%
100.00%
150.00%
200.00%
250.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
Total 2iabilities
Tota& Lia<i&ities
The amount of Total 6iabilities in the first year 2AA$ as .s.3C7B2BC and it becomes
.s.377$B5$ in the year 2AA4 ith decrement of .s.BC7A44
The amount of Total 6iabilities in the year 2AA4 as .s.377$B5$ and it becomes
.s.2CB4$C2 in the year 2AA5 ith decrement of .s.E4E572.
The amount of Total 6iabilities in the year 2AA5 as .s.2CB4$C2 and it becomes
.s.2554$E2 in the year 2AA7 ith decrement of .s.24AABA
The amount of Total 6iabilities in the year 2AA7 as .s.2554$E2 and it becomes
.s.3B7A4B2 in the year 2AAE ith increment of .s.4A4A3A
And the amount of Total 6iabilities in the final year 2AAE is .s.3B7A4B2.
The amount of Total 6iabilities in the first year 2AA$ as BAA.AAJ and it becomes
BA4.3AJ in the year 2AA4 ith increment of 4.3AJ
The amount of Total 6iabilities in the year 2AA4 as BA4.3AJ and it becomes BA$.E7J
in the year 2AA5 ith decrement of A.$3J
The amount of Total 6iabilities in the year 2AA5 as BA$.E7J and it becomes BAE.3AJ
in the year 2AA7 ith increment of 3.$3J
47
The amount of Total 6iabilities in the year 2AA7 as BAE.3AJ and it becomes 2BA.72J
in the year 2AAE ith increment of BA2.$2J
And the amount of Total 6iabilities in the final year 2AAE is 2BA.72J
Ba&an4e Seet +5erti4a& "na&ysis-
4E
)//= )//0 )//* )//> )//.
CU%%E'T "SSETS 2.>)? (...=? )0.=.? @/.0)? =).0(?
Cas and <anA <a&an4es @.@@? 2.*2? (@.*>? *.*(? @/.@.?
2eposit accounts 2.33J C.AAJ B2.EEJ 5.2CJ 3A.B5J
(urrent accounts A.35J A.$2J A.7CJ A.3BJ A.22J
(ollection accounts A.54J A.27J A.AAJ A.AAJ A.AAJ
(ash in hand A.AAJ A.AAJ A.AAJ A.AAJ A.AAJ
<ertical analysis 0&+
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
Cash and bank balances
Deposit acconts
Crrent acconts
Collection acconts
Cash in hand
Current "ssets
The amount of (urrent Assets in the year 2AA$ as .s.47$$5A and it increases to
.s.BB72754 in the year 2AA4 ith and increment of .s.4CE3A4.
And the amount of (urrent Assets in the year 2AA4 as .s.BB72754 and it increases to
.s.B47C3E2 in the year 2AA5 ith an increment of .s.$A55B7.
The amount of (urrent Assets in the year 2AA5 as .s.B47C3E2 and it increases to
.s.BC43427 in the year 2AA7 ith and increment of .s.37$B$4
The amount of (urrent Assets in the year 2AA7as .s.BC43427 and it increases to
.s.42C$AE3 in the year 2AAE ith and increment of .s.33$A445
And the amount (urrent Assets in the final year 2AAE is .s.42C$AE3
4C
The amount of (urrent Assets in the year 2AA$ as C.72J .and it increases to BE.E$J in
the year 2AA4 ith and increment of C.B2J
And the amount of (urrent Assets in the year 2AA4 as BE.E$J and it increases to
24.$EJin the year 2AA5 ith an increment of 5.5$J
The amount of (urrent Assets in the year 2AA5 as 24.$EJ and it increases to 3A.42J in
the year 2AA7 ith and increment of 4.A$J
The amount of (urrent Assets in the year 2AA7 as 3A.42 J and it increases to $2.4B in
the year 2AAE ith and increment of BB.CCJ
And the amount (urrent Assets in the final year 2AAE is $2.4BJ.
Cas and BanA <a&an4es
The amount of (ash and ban" balances in the year 2AA$ as .s.BC7AEE and it becomes
.s.5A3BBA in the year 2AA4 ith an increment of .s.BC7AEE
The amount of (ash and ban" balances in the year 2AA4 as .s.5A3BBA and it becomes
.s.E$74CA in the year 2AA5 ith an increment of .s.2$$$EA
The amount of (ash and ban" balances in the year 2AA5 as .s.E$74CA and it becomes
.s.$23B33 in the year 2AA7 ith a decrement of .s.$2$$47
The amount of (ash and ban" balances in the year 2AA7 as .s.$23B33 and it becomes
.s.37E3CAC in the year 2AAE ith an increment of .s.335A775
And the amount of (ash and ban" balances in the final year 2AAE is .s.37E3CAC
The amount of (ash and ban" balances in the year 2AA$ as 3.33J and it becomes
C.5CJ in the year 2AA4 ith an increment of5.35J
The amount of (ash and ban" balances in the year 2AA4 as C.5CJ and it becomes
B3.57J in the year 2AA5 ith an increment of 5.CEJ
The amount of (ash and ban" balances in the year 2AA5 as B3.57J and it becomes
5.5BJ in the year 2AA7 ith a decrement of 7.A5J
The amount of (ash and ban" balances in the year 2AA7 as 5.5BJ and it becomes
3A.3EJ in the year 2AAE ith an increment of 23.77J
And the amount of (ash and ban" balances in the final year 2AAE is 3A.3EJ
5A
Deposit a44ounts
The amount of deposit accounts in the first year 2AA$ as .s.B37$33 and it becomes
.s.45AB77 in the year 2AA4 ith an increment of .s.$227$$
The amount of deposit accounts in the year 2AA4 as .s.45ABB7 and it becomes
.s.7CEB22 in the year 2AA5 ith an increment of .s.237C$4
The amount of deposit accounts in the year 2AA5 as .s.7CEB22 and it becomes
.s.$A2CA7 in the year 2AA7 ith a 2ecrement of .s.3C42B4
The amount of deposit accounts in the year 2AA7 as .s.$A2CA7 and it becomes
.s.37455BB in the year 2AAE ith an increment of .s.33437A$
And the amount of deposit accounts in the final year 2AAE is .s.374555BB
The amount of deposit accounts in the first year 2AA$ as 2.33J and it becomes C.AAJ in
the year 2AA4 ith an increment of 5.57J
The amount of deposit accounts in the year 2AA4 as 5.AAJ and it becomes B2.EEJ in the
year 2AA5 ith an increment of 5.EEJ
The amount of deposit accounts in the year 2AA5 as B2.EEJ and it becomes 5.2CJ in the
year 2AA7 ith a decrement of 5.4CJ
The amount of deposit accounts in the year 2AA7 as 5.2CJ and it becomes 3A.B5J in the
year 2AAE ith an increment of 23.E7J
And the amount of deposit accounts in the final year 2AAE is 3A.B5J

Current a44ounts
The amount of current accounts in the first year 2AA$ as .s.2B325 and it becomes
.s.24E$A in the year 2AA4 ith increment of .s.$4B$
The amount of current accounts in the year 2AA4 as .s.24E$A and it becomes .s.$C243
in the year 2AA5 ith increment of .s.23$B3
The amount of current accounts in the year 2AA5 as .s.$C243 and it becomes .s.2AA$E
in the year 2AA7 ith 2ecrement of .s.2C2A4
The amount of current account in the year 2AA7 as .s.2AA$E and it becomes .s.27A3C
in the year 2AAE ith increment of .s.5CCB
And the amount of current accounts in the final year 2AAE is .s.27A3C
5B
The amount of current accounts in the first year 2AA$ as A.35J and it becomes A.$2J
in the year 2AA4 ith increment of A.A5J
The amount of current accounts in the year 2AA4 as A.$2J and it becomes A.7CJ in the
year 2AA5 ith increment of A.37J
The amount of current accounts in the year 2AA5 as A.7CJ and it becomes A.3BJ in the
year 2AA7 ith decrement of A.$EJ
The amount of current account in the year 2AA7 as A.3BJ and it becomes A.22J in the
year 2AAE ith decrement of A.ACJ
And the amount of current accounts in the final year 2AAE is A.22J
Co&&e4tion a44ounts
The amount of current account in the first year 2AA$ as .s.3E274 and it becomes
.s.B5E3B in the year 2AA4 ith decrement of .s.2B$$$
<ero
The amount of current account in the first year 2AA$ as A.54J and it becomes A.27J in
the year 2AA4 ith decrement of A.3EJ
A.AAJ
Cas in and
The amount of cash in hand in the first year 2AA$ as .s.4$ and it becomes .s.252 in the
year 2AA4 ith increment of .s.2AE
The amount of cash in hand in the year 2AA4 as .s.252 and it becomes .s.2B4 in the
year 2AA5 ith decrement of .s.$7
The amount of cash in hand in the year 2AA5 as .s.2B4 and it becomes .s.B7E in the
year 2AA7 ith decrement of .s.37
The amount of cash in hand in the year 2AA7 as .s.B7E and it becomes .s.24C in the
year 2AAE ith increment of .s.EB
52
And the amount of cash in hand in the final year 2AAE is .s.24C
The amount of cash in hand in the years 2AA$, 2AA4, 2AA5, 2AA7 and 2AAE is A.AAJ.
Fauji (ement (ompany 6imited
2AA$ 2AA4 2AA5 2AA7 2AAE
"d:an4esB DepositsB prepayments and
oter re4ei:a<&es: (.)=? /.>=? (.(@? (@.=)? ).>>?
To suppliers A.4EJ A.2CJ A.4BJ B2.7$J A.B2J
To employees A.ABJ A.ABJ A.A3J A.ABJ A.A2J
2ue from associated underta"ing ?
unsecured A.A2J A.A2J A.A4J A.AAJ A.AAJ
2eposits A.A2J A.A2J A.A3J A.A3J A.A4J
Prepayments A.BEJ A.A7J A.B5J A.A4J A.A3J
%&cise duty A.B7J A.A4J A.AAJ A.AAJ A.AAJ
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
)d*ances: Deposits: prepay$ents
and other recei*ables3
To sppliers
To e$ployees
De %ro$ associated ndertakin# &
nsecred
Deposits
"repay$ents
'(cise dty
)d*ance ta( &net
+ales ta( re%ndable &net
Deri*ati*e %orei#n crrency options
sed as hed#in# instr$ent
,nterest accred
"repaid arran#e$ent %ee %or loans
-ar#in on letters o% credit
.ther recei*ables& Considered
#oods
.thers
"d:an4esB DepositsB prepayments and oter re4ei:a<&es:
53
2AA$ as .s.734E3 and it becomes .s.$5A$B in the year 2AA4 ith decrement of
.s.274$2
as .s.$5A$B and it becomes .s.7A3$A in the year 2AA5 ith decrement of .s.2$2CC
as .s.7A3$A and it becomes .s.E4E74E in the year 2AA7 ith increment of .s.7EE$BE
The amount of cash in hand in the year 2AA7 as .s.E4E74E and it becomes .s.3$4457
in the year 2AAE ith decrement of .s.4B3BCB
year 2AAE is .s.3$4457
2AA$ as B.2$J and it becomes A.7$J in the year 2AA4 ith decrement of A.4AJ
as A.7$J and it becomes B.B3J in the year 2AA5 ith decrement of A.3CJ
as B.B3J and it becomes B3.$2J in the year 2AA7 ith increment of B2.2CJ
The amount of cash in hand in the year 2AA7 as B3.$2J and it becomes 2.77J in the
year 2AAE ith decrement of BA.54J
year 2AAE is 2.77J
Fauji (ement (ompany 6imited
5$
2AA$ 2AA4 2AA5 2AA7 2AAE
T%"DE DEBTS /.>*? (.>)? /.=(? /.@(? /.))?
(onsidered goods A.3EJ A.3EJ A.$BJ A.B2J A.AAJ
(onsidered doubtful A.A3J A.A3J A.A3J A.B3J A.A$J
'ecure?considered goods A.3EJ B.34J A.AAJ A.BEJ A.22J
Provision for doubtful debts ?A.A3J ?A.A3J ?A.A3J ?A.B3J ?A.A$J
&0.50%
0.00%
0.50%
1.00%
1.50%
2.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
T/)D' D'0T+
1nsecred
Considered #oods
Considered dobt%l
+ecre&considered #oods
2ess3 "ro*ision %or dobt%l
debts
T%"DE DEBT
The amount of trade debts in the first year 2AA$ as .s.$$7EC and it becomes .s.BA723B
in the year 2AA4 ith decrement of .s.52$$2
The amount of trade debts in the first year 2AA4 as .s.BA723B and it becomes .s.24$74
in the year 2AA5 ith increment of .s.EB745
The amount of trade debts in the first year 2AA5 as .s.24$74 and it becomes .s.BC44E
in the year 2AA7 ith decrement of .s.4CB7
The amount of trade debts in the first year 2AA7 as .s.BC44E and it becomes .s.25C27
in the year 2AAE ith increment of .s.735C
And the amount of trade debts in the final year 2AAE is .s.25C27
The amount of trade debts in the first year 2AA$ as A.75J and it becomes B.72J in the
year 2AA4 ith increment of A.C5J
The amount of trade debts in the first year 2AA4 as B.72J and it becomes A.$BJ in the
year 2AA5 ith decrement of B.3BJ
54
The amount of trade debts in the first year 2AA5 as A.$BJ and it becomes A.3BJ in the
year 2AA7 ith decrement of A.BA
The amount of trade debts in the first year 2AA7 as A.3BJ and it becomes A.22J in the
year 2AAE ith increment of A.ACJ
And the amount of trade debts in the final year 2AAE is A.22J
Considered 3oods
The amount of considered goods in the first year 2AA$ as .s.22255 and it becomes
.s.23$4$ in the year 2AA4 ith increment of .s.BBEE
The amount of considered goods in the year 2AA4 as .s.23$4$ and it becomes .s.24$74
in the year 2AA5 ith increment of .s.2A2B
The amount of considered goods in the year 2AA5 as .s.24$74 and it becomes .s.775C
in the year 2AA7 ith decrement of .s.B77A5
The amount of considered goods in the year 2AA7 as .s.775C and it becomes .s.A in the
year 2AAE
And the amount of considered goods in the final year 2AAE is .s.A
The amount of considered goods in the first year 2AA$ as A.3EJ and it becomes A.3EJ
in the year 2AA4
The amount of considered goods in the year 2AA4 as A.3EJ and it becomes A.$BJ in
the year 2AA5 ith increment of A.A3J
The amount of considered goods in the year 2AA5 as A.$BJ and it becomes A.B2J in
the year 2AA7 ith decrement of A.2CJ
The amount of considered goods in the year 2AA7 as A.B2J and it becomes A.AAJ in
the year 2AAE
And the amount of considered goods in the final year 2AAE is A.AAJ
Considered dou<t!u&
55
The amount of considered doubtful in the first year 2AA$ as .s.B457 and it becomes
.s.B457 in the year 2AA4 and 2AA5.
The amount of considered doubtful in the year 2AA5 as .s.B457 and it becomes .s.E3$E
in the year 2AA7 ith increment of .s.57EB
The amount of considered doubtful in the year 2AA7 as .s.E3$E and it becomes .s.$E$E
in the year 2AAE ith decrement of .s.34AA
And the amount of considered doubtful in the final year 2AAE is .s.$E$E
The amount of considered doubtful in the year 2AA$, 2AA4 and 2AA5 as A.A3J and it
becomes A.B3J in the year 2AA7 ith increment of A.BAJ
The amount of considered doubtful in the year 2AA7 as A.B3J and it becomes A.A$J in
the year 2AAE ith decrement of A.AC
And the amount of considered doubtful in the final year 2AAE is A.A$J
Se4ure14onsidered 3oods
The amount of secure?considered goods in the first year 2AA$ as .s.22423 and it
becomes .s.E3777 in the year 2AA4 ith increment of .s.5B24$.
The amount of secure?considered goods in the year 2AA4 as .s.E3777 and it becomes
.s.A in the year 2AA5.
The amount of secure?considered goods in the year 2AA7 as .s.BB7EC and it becomes
.s.25C27 in the year 2AAE ith increment of .s.B4B3E.
And the amount of secure?considered goods in the final year 2AAE is .s.25C27.
The amount of secure?considered goods in the first year 2AA$ as A.3EJ and it becomes
B.34J in the year 2AA4 ith increment of A.C7J
The amount of secure?considered goods in the year 2AA4 as B.34J and it becomes
A.AAJ in the year 2AA5.
The amount of secure?considered goods in the year 2AA7 as A.BEJ and it becomes
A.22J in the year 2AAE ith increment of A.A$J
And the amount of secure?considered goods in the final year 2AAE is A.22J
57
7ro:ision !or dou<t!u& de<ts
The amount of provision for doubtful debts in the first year 2AA$ as .s.B457 and it
becomes .s.B457 in the year 2AA4 and 2AA5.
The amount of provision for doubtful debts in the year 2AA7 as .s.E3$E and it becomes
.s.$E$E in the year 2AAE ith decrement of .s.34AA.
And the amount of provision for doubtful debts in the final year 2AAE is .s.$E$E.
The amount of provision for doubtful debts in the first year 2AA$ as A.A3J and it
becomes A.B3J in the year 2AA4, 2AA5 and 2AA7.
The amount of provision for doubtful debts in the year 2AA7 as A.B3J and it becomes
A.A$J in the year 2AAE ith decrement of A.ACJ
And the amount of provision for doubtful debts in the final year 2AAE is A.A$J
5E
)//= )//0 )//* )//> )//.
STOC6 I' T%"DE (./=? /.2/? ).@=? )..*? (..0?
.a and pac"ing material A.25J A.3AJ A.$4J A.37J A.24J
/or" in process A.$7J A.BCJ B.4BJ B.EAJ B.22J
Finished goods A.3BJ A.$2J A.3EJ A.5CJ A.37J
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e+T.C4 ,5 T/)D'
/a6 and packin# $aterial
7ork in process
8inished #oods
STOC6 I' T%"DE
The amount of stoc" in trade in the first year 2AA$ as .s.5B5AA and it becomes
.s.44C3B in the year 2AA4 ith decrement of .s.455C
The amount of stoc" in trade in the year 2AA4 as .s.44C3B and it becomes .s.B$4ACA in
the year 2AA5 ith increment of .s.ECB4C.
The amount of stoc" in trade in the year 2AA5 as .s.B$4ACA and it becomes .s.BE33AC
in the year 2AA7 ith increment of .s.3E2BC.
The amount of stoc" in trade in the year 2AA7 as .s.BE33AC and it becomes .s.23AAEC
in the year 2AAE ith increment of .s.$57EA.
And the amount of stoc" in trade in the final year 2AAE is .s.23AAEC.
The amount of stoc" in trade in the first year 2AA$ as B.A$J J and it becomes A.CAJ in
the year 2AA4 ith decrement of A.B$J
The amount of stoc" in trade in the year 2AA4 as A.CAJ and it becomes 2.3$J in the
year 2AA5 ith increment of B.$$J
5C
The amount of stoc" in trade in the year 2AA5 as 2.3$J and it becomes 2.E5J in the
year 2AA7 ith increment of A.42J
The amount of stoc" in trade in the year 2AA7 as 2.E5J and it becomes B.E4J in the
year 2AAE ith decrement of B.ABJ
And the amount of stoc" in trade in the final year 2AAE is B.E4J
%aC and pa4Ain3 materia&
The amount of ra and pac"ing material in the first year 2AA$ as .s.B422$ and it
becomes .s.BE$5C in the year 2AA4 ith increment of .s.32$4
The amount of ra and pac"ing material in the year 2AA4 as .s.BE$5C and it becomes
.s.2EAB2 in the year 2AA5 ith increment of .s.C4$3
The amount of ra and pac"ing material in the year 2AA5 as .s.2EAB2 and it becomes
.s.23C3B in the year 2AA7 ith decrement of .s.$AEB
The amount of ra and pac"ing material in the year 2AA7 as .s.23C3B and it becomes
.s.3B27B in the year 2AAE ith increment of .s.73$A
And the amount of ra and pac"ing material in the final year 2AAE is .s.3B27B
The amount of ra and pac"ing material in the first year 2AA$ as A.25J and it becomes
A.3AJ in the year 2AA4 ith increment of A.A$J
The amount of ra and pac"ing material in the year 2AA4 as A.3AJ and it becomes
A.$4J in the year 2AA5 ith increment of A.B4J
The amount of ra and pac"ing material in the year 2AA5 as A.$4J and it becomes
A.37J in the year 2AA7 ith decrement of A.AEJ
The amount of ra and pac"ing material in the year 2AA7 as A.37J and it becomes
A.24J in the year 2AAE ith decrement of A.B2J
And the amount of ra and pac"ing material in the final year 2AAE is A.24J
8orA in pro4ess
7A
The amount of or" in process in the first year 2AA$ as .s.2775B and it becomes
.s.BB52$ in the year 2AA4 ith decrement of .s.B5B37
The amount of or" in process in the year 2AA4 as .s.BB52$ and it becomes .s.C357B
in the year 2AA5 ith increment of .s.E2A$7.
The amount of or" in process in the year 2AA5 as .s.C357B and it becomes .s.BB422B
in the year 2AA7 ith increment of .s.2B44A.
The amount of or" in process in the year 2AA7 as .s.BB422B and it becomes
.s.B4242C in the year 2AAE ith increment of .s.373AE.
And the amount of or" in process in the final year 2AAE is .s.B4242C
The amount of or" in process in the first year 2AA$ as A.$7J and it becomes A.BCJ in
the year 2AA4 ith decrement of A.2EJ
The amount of or" in process in the year 2AA4 as A.BCJ and it becomes B.4BJ in the
year 2AA5 ith increment of B.32J
The amount of or" in process in the year 2AA5 as B.4BJ and it becomes B.EAJ in the
year 2AA7 ith increment of A.2CJ
The amount of or" in process in the year 2AA7 as B.EAJ and it becomes B.22J in the
year 2AAE ith decrement of A.4EJ
And the amount of or" in process in the final year 2AAE is B.22J
Finised 3oods
The amount of finished goods in the first year 2AA$ as .s.BE5B4 and it becomes
.s.24E3E in the year 2AA4 ith increment of .s.7223.
The amount of finished goods in the year 2AA4 as .s.24E3E and it becomes .s.23$A7 in
the year 2AA5 ith decrement of .s.2$3B.
The amount of finished goods in the year 2AA5 as .s.23$A7 and it becomes .s.$$B47 in
the year 2AA7 ith increment of .s.2A74A.
The amount of finished goods in the year 2AA7 as .s.$$B47 and it becomes .s.$52EC in
the year 2AAE ith increment of .s.2B32.
And the amount of finished goods in the final year 2AAE is .s.$52EC.
7B
The amount of finished goods in the first year 2AA$ as A.3BJ and it becomes A.$2J in
the year 2AA4 ith increment of A.BBJ
The amount of finished goods in the year 2AA4 as A.$2J and it becomes A.3EJ in the
year 2AA5 ith decrement of A.A$J
The amount of finished goods in the year 2AA5 as A.3EJ and it becomes A.5CJ in the
year 2AA7 ith increment of A.3BJ
The amount of finished goods in the year 2AA7 as A.5CJ and it becomes A.37J in the
year 2AAE ith decrement of A.32J
And the amount of finished goods in the final year 2AAE is A.37J
)//= )//0 )//* )//> )//.
STO%ESB S7"%ES "'D LOOSE
TOOLS @.@=? 0.>2? >.2)? >.@)? >.)2?
'tores B.22J B.73J 3.2AJ A.C7J 3.3$J
'pares 2.AAJ 3.C3J $.42J 5.B5J 3.E$J
6oose tools A.B2J A.B3J A.2AJ A.2AJ A.BBJ
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
+T./'+: +")/'+ )5D
2..+' T..2+
+tores
+pares
2oose tools
STO%ESB S7"%ES "'D LOOSE TOOLS
The amount of stores, spares and loose tools in the first year 2AA$ as .s.BC7$AA and it
becomes .s.35A$42 in the year 2AA4 ith increment of .s.B53A42.
72
The amount of stores, spares and loose tools in the year 2AA4 as .s.35A$42 and it
becomes .s.$CAEE7 in the year 2AA5 ith increment of .s.B3A$34.
The amount of stores, spares and loose tools in the year 2AA5 as .s.$CAEE7 and it
becomes .s.$5E75C in the year 2AA7 ith decrement of .s.22BBE.
The amount of stores, spares and loose tools in the year 2AA7 as .s.$5E75C and it
becomes .s.CA74CB in the year 2AAE ith increment of .s.$3EE22.
And the amount of stores, spares and loose tools in the final year 2AAE is .s.CA74CB.
The amount of stores, spares and loose tools in the first year 2AA$ as 3.3$J and it
becomes 4.7CJ in the year 2AA4 ith increment of 2.$4J
The amount of stores, spares and loose tools in the year 2AA4 as 4.7CJ and it becomes
7.C2J in the year 2AA5 ith increment of 2.B3J
The amount of stores, spares and loose tools in the year 2AA5 as 7.C2J and it becomes
7.32J in the year 2AA7 ith decrement of A.A5J
The amount of stores, spares and loose tools in the year 2AA7 as 7.32J and it becomes
7.2CJ in the year 2AAE ith decrement of A.A3J
And the amount of stores, spares and loose tools in the final year 2AAE is 7.2CJ
Stores
The amount of stores in the first year 2AA$ as .s.7BE37 and it becomes .s.BA7533 in
the year 2AA4 ith increment of .s.347C5.
The amount of stores in the year 2AA4 as .s.BA7533 and it becomes .s.BCE$E4 in the
year 2AA5 ith increment of .s.CAE42.
The amount of stores in the year 2AA5 as .s.BCE$E4 and it becomes .s.5BCC7 in the
year 2AA7 ith decrement of .s.B35$EE.
The amount of stores in the year 2AA7 as .s.5BCC7 and it becomes .s.$B434E in the
year 2AAE ith increment of .s.34335B.
And the amount of stores in the final year 2AAE is .s.$B434E.
The amount of stores in the first year 2AA$ as B.22J and it becomes B.73J in the year
2AA4 ith increment of A.4BJ
73
The amount of stores in the year 2AA4 as B.73J and it becomes 3.2AJ in the year 2AA5
ith increment of B.$7J
The amount of stores in the year 2AA5 as 3.2AJ and it becomes A.C7J in the year 2AA7
ith decrement of 2.23J
The amount of stores in the year 2AA7 as A.C7J and it becomes 3.3$J in the year 2AAE
ith increment of 2.37J
And the amount of stores in the final year 2AAE is 3.3$J
Spares
The amount of spares in the first year 2AA$ as .s.BBE32$ and it becomes .s.2$$4B$ in
the year 2AA4 ith increment of .s.B25BCA.
The amount of spares in the year 2AA4 as .s.2$$4B$ and it becomes .s.2EABE3 in the
year 2AA5 ith increment of .s.3455C.
The amount of spares in the year 2AA5 as .s.2EABE3 and it becomes .s.3C$A$5 in the
year 2AA7 ith increment of .s.BB3E53.
The amount of spares in the year 2AA7 as .s.3C$A$5 and it becomes .s.$7E47C in the
year 2AAE ith increment of .s.E$433.
And the amount of spares in the final year 2AAE is .s.$7E47C.
The amount of spares in the first year 2AA$ as 2.AAJ and it becomes 3.C3Jin the year
2AA4 ith increment of B.C3J
The amount of spares in the year 2AA4 as 3.C3J and it becomes $.42J in the year 2AA5
ith increment of A.4CJ
The amount of spares in the year 2AA5 as $.42J and it becomes 5.B5J in the year 2AA7
ith increment of B.5$J
The amount of spares in the year 2AA7 as 5.B5J and it becomes 3.E$J in the year 2AAE
ith decrement of 2.32J
And the amount of spares in the final year 2AAE is 3.E$J
Loose too&s
7$
The amount of loose tools in the first year 2AA$ as .s.723C and it becomes .s.E3A4 in
the year 2AA4 ith increment of .s.BA55.
The amount of loose tools in the first year 2AA4 as .s.E3A4 and it becomes .s.B22BC in
the year 2AA5 ith increment of .s.3CB$.
The amount of loose tools in the first year 2AA5 as .s.B22BC and it becomes .s.B2725
in the year 2AA7 ith increment of .s.4A7.
The amount of loose tools in the first year 2AA7 as .s.B2725 and it becomes .s.B354$
in the year 2AAE ith increment of .s.C2E.
And the amount of spares in the final year 2AAE is .s.B354$.
The amount of loose tools in the first year 2AA$ as A.B2J and it becomes A.B3J in the
year 2AA4 ith increment of A.ABJ
The amount of loose tools in the first year 2AA4 as A.B3J and it becomes A.2AJ in the
year 2AA5 ith increment of A.A7J
The amount of loose tools in the first year 2AA5 as A.2AJ and it becomes A.2AJ in the
year 2AA7
The amount of loose tools in the first year 2AA7 as A.2AJ and it becomes A.BBJ in the
year 2AAE ith decrement of A.ACJ
And the amount of spares in the final year 2AAE is A.BBJ
)//= )//0 )//* )//> )//.
LO'G TE%M DE7OSITS /.*)? /.>0? /.>0? /.>@? /.@>?
Islamabad %lectric 'upply
(ompany 6imited A.37J A.34J A.34J A.3$J A.B7J
'ui =orthern 1as Pipelines
6imited A.24J A.$AJ A.$AJ A.3CJ A.2AJ
74
0.00%
0.20%
0.40%
0.60%
0.80%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
2.5; T'/- D'".+,T+
,sla$abad 'lectric +pply
Co$pany 2i$ited
2i$ited
LO'G TE%M DE7OSITS
The amount of long term deposits in the first year 2AA$ as .s.355AA and it becomes
.s.$55BB in the year 2AA4, 2AA5, 2AA7 and 2AAE ith decrement of .s.BAABB.
The amount of long term deposits in the first year 2AA$ as A.52J and it becomes A.74J
in the year 2AA4, 2AA5 ith increment of A.B3J
The amount of long term deposits in the first year 2AA5 as A.74J and it becomes A.73J
in the year 2AA7 ith decrement of A.A2J
The amount of long term deposits in the first year 2AA7 as A.73J and it becomes A.37J
in the year 2AA7 ith decrement of A.35J
Is&ama<ad E&e4tri4 Supp&y Company Limited
2AA5, 2AA7 and 2AAE as .s.2B5AA.
The amount of long term deposits in the first year 2AA$ as A.37J and it becomes A.34J
in the year 2AA4, 2AA5 ith decrement of A.A2J
The amount of long term deposits in the first year 2AA5 as A.34J and it becomes A.3$J
in the year 2AA7 ith decrement of A.ABJ
The amount of long term deposits in the first year 2AA7 as A.3$J and it becomes A.B7J
in the year 2AAE ith decrement of A.B7J
75
The amount of 'ui =orthern 1as Pipelines 6imited in the first year 2AA$ as .s.B4AAA
and it becomes .s.24ABB in the year 2AA4, 2AA5, 2AA7 and 2AAE ith increment of
.s.BAABB.
The amount of 'ui =orthern 1as Pipelines 6imited in the first year 2AA$ as A.24J and
it becomes A.$AJ in the year 2AA4, 2AA5 ith increment of A.B4J
The amount of 'ui =orthern 1as Pipelines 6imited in the first year 2AA5 as A.$AJ and
it becomes A.3CJ in the year 2AA7 ith decrement of A.ABJ
The amount of 'ui =orthern 1as Pipelines 6imited in the first year 2AA7 as A.3CJ and
it becomes A.2AJ in the year 2AAE ith decrement of A.BCJ
)//= )//0 )//* )//> )//.
LO'G TE%M "D5"'CES 1
Considered 3oods /.//? /.(=? /.(0? /.(@? /./*?
'ui =orthern 1as Pipelines 6imited A.AAJ A.AAJ A.AAJ A.B$J A.A7J
6ess@ Amount receivables ithin B2
months shon under current assets A.AAJ A.AAJ A.AAJ ?A.ABJ ?A.ABJ
.ert*ca# ana#)s*s "/S
&0.05%
0.00%
0.05%
0.10%
0.15%
0.20%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
2.5; T'/- )D<)5C'+ &
Considered #oods
2i$ited
2ess3 )$ont recei*ables 6ithin
12 $onths sho6n nder crrent
assets
77
LO'G TE%M "D5"'CES 1 Considered 3oods
The amount of 60=1 T%.) A2*A=(%' ? (onsidered goods in the first year 2AA$
as .s.A and it becomes .s.CAAA in the year 2AA4 and 2AA5 ith increment of .s.CAAA.
.s.EBAA and it becomes .s.72AA in the year 2AAE ith decrement of .s.CAA.
And the amount of long term advances?considered goods in the final year 2AAE is
.s.72AA
The amount of 60=1 T%.) A2*A=(%' ? (onsidered goods in the year 2AA$ as
A.AAJ and it becomes A.B$J in 2AA4 ith increment of A.B$J
A.B$J and it becomes A.B4J in the year 2AA5 ith increment of A.ABJ
And the amount of long term advances?considered goods in the year 2AA5 as A.B4J and
it becomes A.B3J in 2AA7 ith decrement of A.A2J
And the amount of long term advances?considered goods in the year 2AA7 as A.B3J and
it becomes A.A5J in 2AAE ith decrement of A.A7J
The amount of 'ui =orthern 1as Pipelines 6imited in the year 2AA$, 2AA4 and 2AA5 as
.s.A and it becomes .s.CAAA in the year 2AA7 ith increment of .s.CAAA.
And the amount of 'ui =orthern 1as Pipelines 6imited in the final year 2AAE is .s.EBAA.
The amount of 'ui =orthern 1as Pipelines 6imited in the year 2AA7 as A.B$J and it
becomes A.A7J in the year 2AAE ith decrement of A.A7J
And the amount of 'ui =orthern 1as Pipelines 6imited in the final year 2AAE is A.A7J
7E
)//= )//0 )//* )//> )//.
FI9ED "SSETS 1 Tan3i<&e: ././)? >=..0? >@.*)? *..*)? 0>./*?
Property, Plant and e>uipment EA.A2J 7$.E4J 73.52J 5E.52J 47.A5J
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
8,='D )++'T+ & Tan#ible3
"roperty: "lant and e>ip$ent
FI9ED "SSETS D Tan3i<&e
The amount of fi&ed assets?tangible in the first year 2AA$ as .s.$72C24$ and it
becomes .s.$54E272 in the year 2AA4 ith decrement of .s.7ACE2.
The amount of fi&ed assets?tangible in the year 2AA4 as .s.$54E272 and it becomes
.s.$453BB4 in the year 2AA5 ith decrement of .s.C4B47.
The amount of fi&ed assets?tangible in the year 2AA5 as .s.$453BB4 and it becomes
.s.$3C2$4A in the year 2AA7 ith decrement of .s.B7A554.
The amount of fi&ed assets?tangible in the year 2AA7 as .s.$3C2$4A and it becomes
.s.7BA54CC in the year 2AAE ith increment of .s.27B$B$C.
And the amount of fi&ed assets?tangible in the final year 2AAE is .s.7BA54CC.
The amount of fi&ed assets?tangible in the first year 2AA$ as EA.A2J and it becomes
7$.E4J in the year 2AA4 ith decrement of 4.B7J
The amount of fi&ed assets?tangible in the year 2AA4 as 7$.E4J and it becomes 73.52J
in the year 2AA5 ith decrement of B.23J
The amount of fi&ed assets?tangible in the year 2AA5 as 73.52J and it becomes 5E.52J
in the year 2AA7 ith decrement of A.A4J
7C
The amount of fi&ed assets?tangible in the year 2AA7 as 5E.52J and it becomes 47.A5J
in the year 2AAE ith decrement of BB.45J
And the amount of fi&ed assets?tangible in the final year 2AAE is 47.A5J
)//= )//0 )//* )//> )//.
Tota& "ssets (//.//? (//.//? (//.//? (//.//? (//.//?
.ert*ca# Ana#)s*s
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
Total )ssets
Tota& "ssets
The amount of total assets in the first year 2AA$ as .s.4CBA343 and it becomes
.s.52237EE in the year 2AA4 ith increment of .s.3B3$34.
The amount of total assets in the year 2AA4 as .s.52237EE and it becomes .s.5BCEBAE
in the year 2AA5 ith decrement of .s.245EA.
The amount of total assets in the year 2AA5 as .s.5BCEBAE and it becomes .s.5$AA5EE
in the year 2AA7 ith increment of .s.2A24EA.
EA
The amount of total assets in the year 2AA7 as .s.5$AA5EE and it becomes .s.B2$4$$C3
in the year 2AAE ith increment of .s.5A43EA4.
And the amount of total assets in the final year 2AAE is .s.B2$4$$C3
The amount of total assets in the years 2AA$, 2AA4, 2AA5, 2AA7 and 2AAE as BAA.AAJ.
)//= )//0 )//* )//> )//.
Trade and oter paya<&es: =.*(? =.=@? *.>2? >.@)? @.2*?
(reditors A.77J A.7$J A.C5J B.2EJ A.43J
Accrued liabilities B.A7J B.AEJ B.A2J B.E5J B.$AJ
.etention money A.BEJ A.B7J A.2BJ A.BCJ A.B2J
'ecurity deposits A.$3J A.$7J A.5BJ A.5BJ A.3AJ
Advances from customers A.3CJ A.5EJ A.C4J B.A5J A.33J
/or"ersH ,Profit- Participation Fund A.AAJ A.5$J B.4BJ A.54J A.2AJ
/or"ersH /elfare fund A.AAJ A.AAJ A.AAJ A.24J A.2AJ
EB
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
Trade and other payables3
Creditors
)ccred liabilities
/etention $oney
+esrity deposits
)d*ances %ro$ csto$ers
7orkers? @"ro%itA
"articipation 8nd
7orkers? 7el%are %nd
+ales ta( payable& net
'(cise dty payable
.ther liabilities
Co$pensated absences
1nclai$ed di*idend
Trade and oter paya<&es
The amount of trade and other payables in the first year 2AA$ as .s. 272$75 and it
becomes .s.2747BE in the year 2AA4 ith increment of .s.32$2.
The amount of trade and other payables in the year 2AA4 as .s.2747BE and it becomes
.s.$2BA7$ in the year 2AA5 ith increment of .s.B$4345.
The amount of trade and other payables in the year 2AA5 as .s.$2BA7$ and it becomes
.s.$5E$$7 in the year 2AA7 ith increment of .s.$7373.
The amount of trade and other payables in the year 2AA7 as .s.$5E$$7 and it becomes
.s.$C32BA in the year 2AAE ith increment of .s.2$753.
And the amount of trade and other payables in the final year 2AAE is .s.$C32BA
The amount of trade and other payables in the first year 2AA$ as $.5BJ and it becomes
$.$3J in the year 2AA4 ith decrement of A.BEJ
The amount of trade and other payables in the year 2AA4 as $.$3J and it becomes
5.7CJ in the year 2AA5 ith increment of 2.35J
The amount of trade and other payables in the year 2AA5 as 5.7CJ and it becomes
7.32J in the year 2AA7 ith increment of A.43J
E2
The amount of trade and other payables in the year 2AA7 as 7.32J and it becomes
3.C5J in the year 2AAE ith decrement of 3.35J
And the amount of trade and other payables in the final year 2AAE is 3.C5J
Creditors
The amount of creditors in the first year 2AA$ as .s.$454B and it becomes .s.$4C5C in
the year 2AA4 ith increment of .s.3BE.
The amount of creditors in the year 2AA4 as .s.$4C5C and it becomes .s.4C753 in the
year 2AA5 ith increment of .s.B37C$.
The amount of creditors in the year 2AA5 as .s.4C753 and it becomes .s.EB755 in the
year 2AA7 ith increment of .s.22AA3.
The amount of creditors in the year 2AA7 as .s.EB755 and it becomes .s.54CC7 in the
year 2AAE ith decrement of .s.B475C.
And the amount of creditors in the final year 2AAE is .s.54CC7.
The amount of creditors in the first year 2AA$ as A.77J and it becomes A.7$J in the
year 2AA4 ith decrement of A.A3J
The amount of creditors in the year 2AA4 as A.7$J and it becomes A.C5J in the year
2AA5 ith increment of A.22J
The amount of creditors in the year 2AA5 as A.C5J and it becomes B.2EJ in the year
2AA7 ith increment of A.32J
The amount of creditors in the year 2AA7 as B.2EJ and it becomes A.43J in the year
2AAE ith decrement of A.74J
And the amount of creditors in the final year 2AAE is A.43J
"44rued &ia<i&ities
The amount of accrued liabilities in the first year 2AA$ as .s.53$24 and it becomes
.s.57BBC in the year 2AA4 ith increment of .s.35C$.
The amount of accrued liabilities in the year 2AA4 as .s.57BBC and it becomes
.s.53$7A in the year 2AA5 ith decrement of .s.35$C.
E3
The amount of accrued liabilities in the year 2AA5 as .s.53$7A and it becomes
.s.BBEE2E in the year 2AA7 ith increment of .s.4434E.
The amount of accrued liabilities in the year 2AA7 as .s.BBEE2E and it becomes
.s.B7$5C2 in the year 2AAE ith increment of .s.44E5$.
And the amount of accrued liabilities in the final year 2AAE is .s.B7$5C2
The amount of accrued liabilities in the first year 2AA$ as B.A7J and it becomes B.AEJ
in the year 2AA4 ith increment of A.ABJ
The amount of accrued liabilities in the year 2AA4 as B.AEJ and it becomes B.A2J in
the year 2AA5 ith decrement of A.A5J
The amount of accrued liabilities in the year 2AA5 as B.A2J and it becomes B.E5J in
the year 2AA7 ith increment of A.E$J
The amount of accrued liabilities in the year 2AA7 as B.E5J and it becomes B.$AJ in
the year 2AAE ith decrement of A.$5J
And the amount of accrued liabilities in the final year 2AAE is B.$AJ
%etention money
The amount of retention money in the first year 2AA$ as .s.BAEBC and it becomes
.s.BA433 in the year 2AA4 ith decrement of .s.2E5.
The amount of retention money in the year 2AA4 as .s.BA433 and it becomes .s.B2E$3
in the year 2AA5 ith increment of .s.23BA.
The amount of retention money in the year 2AA5 as .s.B2E$3 and it becomes .s.BBCE5
in the year 2AA7 ith decrement of .s.E47.
The amount of retention money in the year 2AA7 as .s.BBCE5 and it becomes .s.B44B7
in the year 2AAE ith increment of .s.343B.
And the amount of retention money in the final year 2AAE is .s.B44B7
The amount of retention money in the first year 2AA$ as A.BEJ and it becomes A.B7J in
the year 2AA4 ith decrement of A.ABJ
The amount of retention money in the year 2AA4 as A.B7J and it becomes A.2BJ in the
year 2AA5 ith increment of A.A$J
E$
The amount of retention money in the year 2AA5 as A.2BJ and it becomes A.BCJ in the
year 2AA7 ith decrement of A.A2J
The amount of retention money in the year 2AA7 as A.BCJ and it becomes A.B2J in the
year 2AAE ith decrement of A.A7J
And the amount of retention money in the final year 2AAE is A.B2J
Se4urity deposits
The amount of security deposits in the first year 2AA$ as .s.24$52 and it becomes
.s.2ECE2 in the year 2AA4 ith increment of .s.342A.
The amount of security deposits in the year 2AA4 as .s.2ECE2 and it becomes .s.37CE5
in the year 2AA5 ith increment of .s.CAA$.
The amount of security deposits in the year 2AA5 as .s.37CE5 and it becomes .s.3CA4B
in the year 2AA7 ith increment of .s.BA54.
The amount of security deposits in the year 2AA7 as .s.3CA4B and it becomes .s.35CB5
in the year 2AAE ith decrement of .s.2B34.
And the amount of security deposits in the final year 2AAE is .s.35CB5.
The amount of security deposits in the first year 2AA$ as A.$3J and it becomes A.$7J
in the year 2AA4 ith increment of A.A$J
The amount of security deposits in the year 2AA4 as A.$7J and it becomes A.5BJ in the
year 2AA5 ith increment of A.B$J
The amount of security deposits in the year 2AA5 as A.5BJ and it becomes A.5BJ in the
year 2AA7.
The amount of security deposits in the year 2AA7 as A.5BJ and it becomes A.3AJ in the
year 2AAE ith decrement of A.3BJ
And the amount of security deposits in the final year 2AAE is A.3AJ
"d:an4es !rom 4ustomers
The amount of advances from customers in the first year 2AA$ as .s.23B2B and it
becomes .s.$2$$$ in the year 2AA4 ith increment of .s.BC323.
E4
The amount of advances from customers in the year 2AA4 as .s.$2$$$ and it becomes
.s.4E7$$ in the year 2AA5 ith increment of .s.B53AA.
The amount of advances from customers in the year 2AA5 as .s.4E7$$ and it becomes
.s.5777A in the year 2AA7 ith increment of .s.CA25.
The amount of advances from customers in the year 2AA7 as .s.5777A and it becomes
.s.$B3$$ in the year 2AAE ith decrement of .s.25$25.
And the amount of advances from customers in the final year 2AAE is .s.$B3$$.
The amount of advances from customers in the first year 2AA$ as A.3CJ and it becomes
A.5EJ in the year 2AA4 ith increment of A.2CJ
The amount of advances from customers in the year 2AA4 as A.3CJ and it becomes
A.C4J in the year 2AA5 ith increment of A.45J
The amount of advances from customers in the year 2AA5 as A.C4J and it becomes
B.A5J in the year 2AA7 ith increment of A.BBJ
The amount of advances from customers in the year 2AA7 as B.A5J and it becomes
A.33J in the year 2AAE ith decrement of A.73J
And the amount of advances from customers in the final year 2AAE is A.33J
8orAersE +7ro!it- 7arti4ipation Fund
The amount of /or"ersH ,Profit- Participation Fund in the first year 2AA$ as .s.A and it
becomes .s.3CC$C in the year 2AA4 ith increment of .s.3CC$C.
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA4 as .s.3CC$C and it
becomes .s.C3452 in the year 2AA5 ith increment of .s.435B3.
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA5 as .s.C3452 and it
becomes .s.$B$E3 in the year 2AA7 ith decrement of .s.42A7C.
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA7 as .s.$B$E3 and it
becomes .s.2$$B3 in the year 2AAE ith decrement of .s.B7A7A.
And the amount of /or"ersH ,Profit- Participation Fund in the final year 2AAE is
.s.2$$B3.
E5
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA4 as A.5$J and it
becomes B.4BJ in the year 2AA5 ith increment of A.E7J
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA5 as B.4BJ and it
becomes A.54J in the year 2AA7 ith decrement of A.E5J
The amount of /or"ersH ,Profit- Participation Fund in the year 2AA7 as A.54J and it
becomes A.2AJ in the year 2AAE ith decrement of A.$4J
And the amount of /or"ersH ,Profit- Participation Fund in the final year 2AAE is A.2AJ
8orAersE 8e&!are !und
The amount of /or"ersH /elfare fund in the first three year 2AA$, 2AA4 and 2AA5 as
.s.A and it becomes .s.B5AE4 in the year 2AA7 ith increment of .s.B5AE4.
The amount of /or"ersH /elfare fund in the year 2AA7 as .s.B5AE4 and it becomes
.s.24352 in the year 2AAE ith increment of .s.C277.
The amount of /or"ersH /elfare fund in the year 2AA7 as A.24J and it becomes A.2AJ
in the year 2AAE ith decrement of A.A4J
And the amount of /or"ersH /elfare fund in the final year 2AAE is A.2AJ
)//= )//0 )//* )//> )//.
!abib +an" 6imited A.AAJ B$.73J C.55J 5.74J 2.B3J
)(+ +an" 6imited A.AAJ B$.73J C.55J 5.74J 2.B3J
3nited +an" 6imited A.AAJ 7.35J $.E3J 3.37J B.A5J
+an" Al Falah 6imited A.AAJ 7.35J $.E3J 3.37J B.A5J
=I+ +an" 6imited A.AAJ A.AAJ A.AAJ 2.A2J A.5$J
PI(I( (ommercial +an" 6imited A.AAJ $.$2J 2.CAJ A.AAJ A.AAJ
E7
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
2on# ter$ % inancin#3
2oans % ro$ bankin# co$panies &
+ecred3
Babib 0ank 2i$ited
-C0 0ank 2i$ited
1nited 0ank 2i$ited
0ank )l 8alah 2i$ited
5,0 0ank 2i$ited
",C,C Co$$ercial 0ank 2i$ited
,a<i< BanA Limited
The amount of !abib +an" 6imited in the first year 2AA4 as .s.CB5557 and it becomes
The amount of !abib +an" 6imited in the year 2AA5 as .s.4CE$E4 and it becomes
The amount of !abib +an" 6imited in the year 2AA7 as .s.$3BEBE and it becomes
And the amount of !abib +an" 6imited in the final year 2AAE is .s.254B42.
The amount of !abib +an" 6imited in the first year 2AA4 as B$.73J and it becomes
C.55J in the year 2AA5 ith decrement of 4.A7J
The amount of !abib +an" 6imited in the year 2AA5 as C.55J and it becomes 5.74J in
the year 2AA7 ith decrement of 2.CBJ
The amount of !abib +an" 6imited in the year 2AA7 as 5.74J and it becomes 2.B3J in
the year 2AAE ith decrement of $.52J
And the amount of !abib +an" 6imited in the final year 2AAE is 2.B3J
MCB BanA Limited
The amount of )(+ +an" 6imited in the first year 2AA4 as .s.CB5557 and it becomes
EE
The amount of )(+ +an" 6imited in the year 2AA5 as .s.4CE$E4 and it becomes
The amount of )(+ +an" 6imited in the year 2AA7 as .s.$3BEBE and it becomes
And the amount of )(+ +an" 6imited in the final year 2AAE is .s.254B42.
The amount of )(+ +an" 6imited in the first year 2AA4 as B$.73J and it becomes
C.55J in the year 2AA5 ith decrement of 4.A7J
The amount of )(+ +an" 6imited in the year 2AA5 as C.55J and it becomes 5.74J in
the year 2AA7 ith decrement of 2.CBJ
The amount of )(+ +an" 6imited in the year 2AA7 as 5.74J and it becomes 2.B3J in
the year 2AAE ith decrement of $.52J
And the amount of )(+ +an" 6imited in the final year 2AAE is 2.B3J
United BanA Limited
The amount of 3nited +an" 6imited in the first year 2AA4 as .s.$4E333 and it becomes
.s.2CC2$3 in the year 2AA5 ith decrement of .s.B4CACA.
The amount of 3nited +an" 6imited in the year 2AA5 as 2CC2$3 and it becomes
The amount of 3nited +an" 6imited in the year 2AA7 as .s.2B4CAC and it becomes
And the amount of 3nited +an" 6imited in the final year 2AAE is .s.B32475
The amount of 3nited +an" 6imited in the first year 2AA4 as 7.35J and it becomes
$.E3J in the year 2AA5 ith decrement of 2.43J
The amount of 3nited +an" 6imited in the year 2AA5 as $.E3J and it becomes 3.37J
in the year 2AA7 ith decrement of B.$5J
The amount of 3nited +an" 6imited in the year 2AA7 as 3.37J and it becomes B.A5J
in the year 2AAE ith decrement of 2.3BJ
And the amount of 3nited +an" 6imited in the final year 2AAE is B.A5J
EC
BanA "& Fa&a Limited
The amount of +an" Al Falah 6imited in the first year 2AA4 as .s.$4E333 and it
becomes .s.2CC2$3 in the year 2AA5 ith decrement of .s.B4CACA.
The amount of +an" Al Falah 6imited in the year 2AA5 as 2CC2$3 and it becomes
The amount of +an" Al Falah 6imited in the year 2AA7 as .s.2B4CAC and it becomes
And the amount of +an" Al Falah 6imited in the final year 2AAE is .s.B32475
The amount of +an" Al Falah 6imited in the first year 2AA4 as 7.35J and it becomes
$.E3J in the year 2AA5 ith decrement of 2.43J
The amount of +an" Al Falah 6imited in the year 2AA5 as $.E3J and it becomes 3.37J
in the year 2AA7 ith decrement of B.$5J
The amount of +an" Al Falah 6imited in the year 2AA7 as 3.37J and it becomes B.A5J
in the year 2AAE ith decrement of 2.3BJ
And the amount of +an" Al Falah 6imited in the final year 2AAE is B.A5J
'IB BanA Limited
The amount of =I+ +an" 6imited in the year 2AA7 as .s.B2C4$5 and it becomes
.s.7C4$$ in the year 2AAE ith decrement of .s.4AAA2
And the amount of =I+ +an" 6imited in the final year 2AAE is .s.7C4$$.
The amount of =I+ +an" 6imited in the year 2AA7 as 2.A2J and it becomes A.5$J in
the year 2AAE ith decrement of B.3EJ
And the amount of =I+ +an" 6imited in the final year 2AAE is A.5$J
7ICIC Commer4ia& BanA Limited
The amount of PI(I( (ommercial +an" 6imited in the first year 2AA4 as .s.274AAA
and it becomes .s.B7C4$4 in the year 2AA5 ith decrement of .s.C4$44
CA
The amount of PI(I( (ommercial +an" 6imited in the year 2AA5 as .s.B7C4$4 and it
becomes A in the year 2AA7 and 2AAE.
The amount of PI(I( (ommercial +an" 6imited in the first year 2AA4 as $.$2J and it
becomes 2.CAJ in the year 2AA5 ith decrement of B.42J
The amount of PI(I( (ommercial +an" 6imited in the year 2AA5 as 2.CAJ and it
becomes A.AAJ in the year 2AA7 and 2AAE.
)//= )//0 )//* )//> )//.
Loan !rom re&ated party:
Fauji Foundation? 3nsecured A.AAJ A.EAJ A.AAJ A.AAJ A.AAJ
amount payable ithin B2 months
shon under current liabilities A.AAJ ?E.ECJ ?E.E7J ?E.4CJ ?$.$2J
&10.00%
&8.00%
&6.00%
&4.00%
&2.00%
0.00%
2.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
2oan %ro$ related party3
8aCi 8ondation& 1nsecred
2ess3a$ont payable 6ithin
12 $onths sho6n nder
crrent liabilities
CB
Fauji Foundation1 Unse4ured
The amount of Fauji Foundation? 3nsecured in the year 2AA4 as .s.50000 and it
becomes .s.A in the years 2AA5, 2AA7 and 2AAE.
The amount of Fauji Foundation? 3nsecured in the year 2AA4 as A.EAJ and it becomes
A.AAJ in the years 2AA5, 2AA7 and 2AAE.
)//= )//0 )//* )//> )//.
Tota& Lia<i&ities (//.//? (//.//? (//.//? (//.//? (//.//?
.ert*ca# Ana#)s*s
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
Total 2iabilities
Tota& Lia<i&ities
The amount of Total 6iabilities in the first year 2AA$ as .s.3C7B2BC and it becomes
.s.377$B5$ in the year 2AA4 ith decrement of .s.BC7A44
The amount of Total 6iabilities in the year 2AA4 as .s.377$B5$ and it becomes
.s.2CB4$C2 in the year 2AA5 ith decrement of .s.E4E572.
C2
The amount of Total 6iabilities in the year 2AA5 as .s.2CB4$C2 and it becomes
.s.2554$E2 in the year 2AA7 ith decrement of .s.24AABA
The amount of Total 6iabilities in the year 2AA7 as .s.2554$E2 and it becomes
.s.3B7A4B2 in the year 2AAE ith increment of .s.4A4A3A
And the amount of Total 6iabilities in the final year 2AAE is .s.3B7A4B2.
The amount of Total 6iabilities in the first years 2AA$.2AA4, 2AA5, 2AA7 and 2AAE is
BAA.AAJ
C3
In4ome Statement +Trend "na&ysis-
)//= )//0 )//* )//> )//.
=et 'ales BAA.AAJ B23.CAJ BE5.55J B4A.E2J B4$.$2J
Tren( Ana#)s*s
0.00%
50.00%
100.00%
150.00%
200.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
5et +ales
'et Sa&es
The amount of =et 'ales in the year 2AA$ as .s.2296231 and it increases to .s.2E$4B$3
in the year 2AA4 ith an increment of .s.4$ECB2
And the amount of =et 'ales in the year 2AA4 as .s.2E$4B$3 and it increases to
.s.$2E5B3E in the year 2AA5 ith an increment of .s.B$$ACC4
The amount of =et 'ales in the year 2AA5 as .s.$2E5B3E and it decreases to
.s.3$532E3 in the year 2AA7 ith and decrement of .s.E22E44
The amount of =et 'ales in the year 2AA7 as .s.3$532E3 and it increases to
.s.34$4CA2 in the year 2AAE ith and increment of .s.E25BC
And the amount =et 'ales in the final year 2AAE is .s.34$4CA2.
The amount of =et 'ales in the year 2AA$ as BAA.AAJ .and it increases to B23.CAJ in
the year 2AA4 ith an increment of 23.CAJ
C$
And the amount of =et 'ales in the year 2AA4 as B23.CAJ and it increases to BE5.55J
in the year 2AA5 ith an increment of 52.75J
The amount of =et 'ales in the year 2AA5 as BE5.55J and it decreases to B4A.E2J in
the year 2AA7 ith and decrement of 34.E$J
The amount of =et 'ales in the year 2AA7 as B4A.E2J and it increases to B4$.$2J in
the year 2AAE ith and increment of 3.5AJ
And the amount =et 'ales in the final year 2AAE is B4$.$2J
)//= )//0 )//* )//> )//.
(ost of sales BAA.AAJ BB3.3EJ B3$.5CJ B42.$CJ BE4.55J
Tren( Ana#)s*s
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
140.00%
160.00%
180.00%
200.00%
2004 2005 2006 2007 2008
Yeas
P
e
r
c
e
n
t
a
g
e
s
Cost o% sales
C4
Cost o! sa&es
The amount of (ost of sales in the year 2AA$ as .s.B444$A7 and it increases to
.s.B753457 in the year 2AA4 ith an increment of .s.2AEB5A
And the amount of (ost of sales in the year 2AA4 as .s.B753457 and it increases to
.s.2AC4A27 in the year 2AA5 ith an increment of .s.33B$5A.
The amount of (ost of sales in the year 2AA5 as .s.2AC4A27 and it increases to
.s.237B7EE in the year 2AA7 ith and increment of .s.27575B
The amount of (ost of sales in the year 2AA7 as .s.237B7EE and it increases to
.s.2EE77CA in the year 2AAE ith and increment of .s.4B5AA2
And the amount (ost of sales in the final year 2AAE is 2EE77CA.
The amount of (ost of sales in the year 2AA$ as BAA.AAJ .and it increases to BB3.3EJ
in the year 2AA4 ith an increment of B3.3EJ
And the amount of (ost of sales in the year 2AA4 as BB3.3EJ and it increases to
B3$.5CJ in the year 2AA5 ith an increment of 2B.3BJ
The amount of (ost of sales in the year 2AA5 as B3$.5CJ and it increases to B42.$CJ in
the year 2AA7 ith and increment of B7.EAJ
The amount of (ost of sales in the year 2AA7 as B42.$CJ and it increases to BE4.55J in
the year 2AAE ith and increment of 33.B7J
And the amount (ost of sales in the final year 2AAE is BE4.55J
)//= )//0 )//* )//> )//.
1ross profit BAA.AAJ B$5.AAJ 2C4.77J B$7.3$J EE.E$J
C5
Tren( Ana#)s*s
0.00%
100.00%
200.00%
300.00%
400.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
;ross pro%it
Gross pro!it
The amount of 1ross Profit in the first year 2AA$ as .s.7$AE2$ and it becomes
.s.BAEB475 in the year 2AA4 ith an increment of .s.3$A742.
The amount of 1ross Profit in the year 2AA4 as .s.BAEB475 and it becomes .s.2BCBBBB
in the year 2AA5 ith an increment of .s.BBAC434
The amount of 1ross Profit in the year 2AA5 as .s.2BCBBBB and it becomes .s.BACB$C4
in the year 2AA7 ith a decrement of .s.BACC5B5
The amount of 1ross Profit in the year 2AA7 as .s.BACB$C4 and it becomes .s.54EBB2
in the year 2AAE ith decrement of .s.$333E3.
And the amount of 1ross Profit in the final year 2AAE is .s.54EBB2.
The amount of 1ross Profit in the first year 2AA$ as BAA.AAJ and it becomes B$5.AAJ
in the year 2AA4 ith an increment of $5.AAJ
The amount of 1ross Profit in the year 2AA4 as B$5.AAJ and it becomes 2C4.77J in the
year 2AA5 ith an increment of B$C.77J
The amount of 1ross Profit in the year 2AA5 as 2C4.77J and it becomes B$7.3$J in the
year 2AA7 ith a decrement of B$E.$3J
The amount of 1ross Profit in the year 2AA7 as B$7.3$J and it becomes EE.E$J in the
year 2AAE ith decrement of 4E.4AJ
And the amount of 1ross Profit in the final year 2AAE is EE.E$J.
C7
)//= )//0 )//* )//> )//.
0ther income BAA.AAJ 25.2$J BAB.34J B72.7$J 24B.57J
Tren( Ana#)s*s
0.00%
100.00%
200.00%
300.00%
2004 2005 2006 2007 2008
!ears
"
e
r
c
e
n
t
a
#
e
.ther inco$e
Oter in4ome
The amount of other income in the first year 2AA$ as .s.$27$$ and it becomes
.s.BB2B5 in the year 2AA4 ith decrement of .s.3B42E
The amount of other income in the year 2AA4 as .s.BB2B5 and it becomes .s.$3323 in
the year 2AA5 ith an increment of .s.32BA7
The amount of other income in the year 2AA5 as .s.$3323 and it becomes .s.73E34 in
the year 2AA7 ith increment of .s.3A4B2
The amount of other income in the year 2AA7 as .s.73E34 and it becomes .s.BA747$ in
the year 2AAE ith increment of .s.3373C
And the amount of other income in the final year 2AAE is .s.BA747$
The amount of other income in the first year 2AA$ as BAA.AAJ and it becomes 25.2$J
in the year 2AA4 ith decrement of 73.75J
The amount of other income in the year 2AA4 as 25.2$J and it becomes BAB.34J in the
year 2AA5 ith an increment of 74.BBJ
The amount of other income in the year 2AA5 as BAB.34J and it becomes B72.7$J in
the year 2AA7 ith increment of 7B.3CJ
CE
The amount of other income in the year 2AA7 as B72.7$J and it becomes 24B.57J in
the year 2AAE ith increment of 7E.C3J
And the amount of other income in the final year 2AAE is 24B.57J
)//= )//0 )//* )//> )//.
2istribution cost BAA.AAJ BA$.$CJ B44.2$J BCC.AEJ 25B.$EJ
Tren( Ana#)s*s
0.00%
50.00%
100.00%
150.00%
200.00%
250.00%
300.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
Distribtion cost3
Distri<ution 4ost
The amount of 2istribution cost in the first year 2AA$ as .s.2A$B5 and it becomes
.s.2B333 in the year 2AA4 ith increment of .s.CB7
The amount of 2istribution cost in the year 2AA4 as 2B333 and it becomes .s.3B5C$ in
the year 2AA5 ith an increment of .s.BA35B.
The amount of 2istribution cost in the year 2AA5 as .s.3B5C$ and it becomes .s.$A5$4
in the year 2AA7 ith increment of .s.EC4B.
CC
The amount of 2istribution cost in the year 2AA7 as .s.$A5$4 and it becomes .s.433E3
in the year 2AAE ith increment of .s.B273E
And the amount of 2istribution cost in the final year 2AAE is .s.433E3.
The amount of 2istribution cost in the first year 2AA$ as BAA.AAJ and it becomes
BA$.$CJ in the year 2AA4 ith increment of $.$CJ
The amount of 2istribution cost in the year 2AA4 as BA$.$CJ and it becomes B44.2$J
in the year 2AA5 ith an increment of 4A.74J
The amount of 2istribution cost in the year 2AA5 as B44.2$J and it becomes BCC.AEJ
in the year 2AA7 ith increment of $3.E$J
The amount of 2istribution cost in the year 2AA7 as BCC.AEJ and it becomes 25B.$EJ
in the year 2AAE ith increment of 52.$AJ
And the amount of 2istribution cost in the final year 2AAE is 25B.$EJ
)//= )//0 )//* )//> )//.
Administrative e&penses BAA.AAJ BA5.C7J B5E.43J BEA.34J BC3.$CJ
Tren( Ana#)s*s
0.00%
50.00%
100.00%
150.00%
200.00%
250.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
)d$inistrati*e e(penses3
BAA
"dministrati:e eFpenses
The amount of Administrative e&penses in the first year 2AA$ as .s.3C434 and it
becomes .s.$22C2 in the year 2AA4 ith increment of .s.2747.
The amount of Administrative e&penses in the year 2AA4 as .s.$22C2 and it becomes
.s.55527 in the year 2AA5 ith an increment of .s.2$334.
The amount of Administrative e&penses in the year 2AA5 as .s.55527 and it becomes
.s.7B3A2 in the year 2AA7 ith increment of .s.$574
The amount of Administrative e&penses in the year 2AA7 as .s.7B3A2 and it becomes
.s.75$C4 in the year 2AAE ith increment of .s.4BC3.
And the amount of Administrative e&penses in the final year 2AAE is .s.75$C4.
The amount of Administrative e&penses in the first year 2AA$ as BAA.AAJ and it
becomes BA5.C7J in the year 2AA4 ith increment of 5.C7J
The amount of Administrative e&penses in the year 2AA4 as BA5.C7J and it becomes
B5E.43J in the year 2AA5 ith an increment of 5B.44J
The amount of Administrative e&penses in the year 2AA5 as B5E.43J and it becomes
BEA.34J in the year 2AA7 ith increment of BB.E2J
The amount of Administrative e&penses in the year 2AA7 as BEA.34J and it becomes
BC3.$CJ in the year 2AAE ith increment of B3.3$J
And the amount of Administrative e&penses in the final year 2AAE is BC3.$CJ
BAB
)//= )//0 )//* )//> )//.
0ther 0perating e&penses BAA.AAJ 74C7.BCJ B754C.E4J BACAA.BCJ 5$33.$AJ
Tren( Ana#)s*s
0.00%
2000.00%
4000.00%
6000.00%
8000.00%
10000.00%
12000.00%
14000.00%
16000.00%
18000.00%
20000.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
.ther .peratin# e(penses3
Oter Operatin3 eFpenses
The amount of 0ther 0perating e&penses in the first year 2AA$ as .s.433 and it
becomes .s.$A$C3 in the year 2AA4 ith increment of .s.3CC5A
The amount of 0ther 0perating e&penses in the year 2AA4 as .s.$A$C3 and it becomes
.s.C$B27 in the year 2AA5 ith an increment of .s.4353$
The amount of 0ther 0perating e&penses in the year 2AA5 as .s.C$B27 and it becomes
.s.4EACE in the year 2AA7 ith decrement of .s.35A2C
The amount of 0ther 0perating e&penses in the year 2AA7 as .s.4EACE and it becomes
.s.3$2CA in the year 2AAE ith decrement of .s.23EAE.
And the amount of 0ther 0perating e&penses in the final year 2AAE is .s.3$2C.
The amount of 0ther 0perating e&penses in the first year 2AA$ as BAA.AAJ and it
becomes 74C7.BCJ in the year 2AA4 ith increment of 7$C7.BCJ
BA2
The amount of 0ther 0perating e&penses in the year 2AA4 as 74C7.BCJ and it becomes
B754C.E4J in the year 2AA5 ith an increment of BAA52.55J
The amount of 0ther 0perating e&penses in the year 2AA5 as B754C.E4J and it
becomes BACAA.BCJ in the year 2AA7 ith decrement of 574C.55J
The amount of 0ther 0perating e&penses in the year 2AA7 as BACAA.BCJ and it
becomes 5$33.$AJ in the year 2AAE ith decrement of $$55.7CJ
And the amount of 0ther 0perating e&penses in the final year 2AAE is 5$33.$AJ
)//= )//0 )//* )//> )//.
Finance (ost BAA.AAJ BB2.$$J B2C.$2J BAB.$BJ 7B.C5J
Tren( Ana#)s*s
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
140.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
8inance Cost3
BA3
Finan4e Cost
The amount of Finance (ost in the first year 2AA$ as .s.2A$222 and it becomes
.s.22C533 in the year 2AA4 ith increment of .s.24$BB
The amount of Finance (ost in the year 2AA4 as .s.22C533 and it becomes .s.25$2C5
in the year 2AA5 ith an increment of .s.3$533.
The amount of Finance (ost in the year 2AA5 as .s.25$2C5 and it becomes .s.2A7BA4
in the year 2AA7 ith decrement of .s.47BCB
The amount of Finance (ost in the year 2AA7 as .s.2A7BA4 and it becomes .s.B$5C4$
in the year 2AAE ith decrement of .s.5AB4B.
And the amount of Finance (ost in the final year 2AAE is .s.B$5C4$
The amount of Finance (ost in the first year 2AA$ as BAA.AAJ and it becomes BB2.$$J
in the year 2AA4 ith increment of B2.$$J
The amount of Finance (ost in the year 2AA4 as BB2.$$J and it becomes B2C.$2J in
the year 2AA5 ith an increment of B5.5EJ
The amount of Finance (ost in the year 2AA5 as B2C.$2J and it becomes BAB.$BJ in
the year 2AA7 ith decrement of 2E.ABJ
The amount of Finance (ost in the year 2AA7 as BAB.$BJ and it becomes 7B.C5J in the
year 2AAE ith decrement of 2C.$4J
And the amount of Finance (ost in the final year 2AAE is 7B.C5J
BA$
)//= )//0 )//* )//> )//.
=et profit before ta&ation BAA.AAJ ?3BB.CCJ ?73A.5CJ ?323.C7J ?BE5.E$J
Tren( Ana#)s*s
&800.00%
&600.00%
&400.00%
&200.00%
0.00%
200.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
5et pro%it be%ore ta(ation
'et pro!it <e!ore taFation
The amount of =et profit before ta&ation in the first year 2AA$ as .s.?2$32CA and it
becomes 74CA$B in the year 2AA4
The amount of =et profit before ta&ation in the year 2AA4 as .s.74CA$B and it becomes
.s.B7775CA in the year 2AA5
The amount of =et profit before ta&ation in the year 2AA5 as .s.B7775CA and it
becomes .s.7EEBEA in the year 2AA7
The amount of =et profit before ta&ation in the year 2AA7 as .s.7EEBEA and it becomes
.s.$4$45$ in the year 2AAE
The amount of =et profit before ta&ation in the first year 2AA$ as BAA.AAJ and it
becomes ?3BB.CCJ in the year 2AA4
The amount of =et profit before ta&ation in the year 2AA4 as ?3BB.CCJ and it becomes
?73A.5CJ in the year 2AA5
BA4
The amount of =et profit before ta&ation in the year 2AA5 as ?73A.5CJ and it becomes
?323.C7J in the year 2AA7
The amount of =et profit before ta&ation in the year 2AA7 as ?323.C7J and it becomes ?
BE5.E$J in the year 2AAE.
)//= )//0 )//* )//> )//.
=et profit after ta&ation BAA.AAJ B52.4AJ 3E3.B7J 2A4.7$J B3B.55J
Tren( Ana#)s*s
0.00%
100.00%
200.00%
300.00%
400.00%
500.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
5et pro%it a%ter ta(ation
'et pro!it a!ter taFation
The amount of =et profit after ta&ation in the first year 2AA$ as .s.3B$B$C and it
becomes .s.4BA$C3 in the year 2AA4 ith increment of .s.BC53$$.
The amount of =et profit after ta&ation in the year 2AA4 as .'.4BA$C3 and it becomes
.s.B2A373C in the year 2AA5 ith an increment of .s.5C32$5
The amount of =et profit after ta&ation in the year 2AA5 as .s.B2A373C and it becomes
.s.5$5323 in the year 2AA7 ith decrement of .s.447$B5
The amount of =et profit after ta&ation in the year 2AA7 as .s.5$5323 and it becomes
.s.$B34CE in the year 2AAE ith decrement of .s.232724
And the amount of =et profit after ta&ation in the final year 2AAE is .s.$B34CE.
BA5
The amount of =et profit after ta&ation in the first year 2AA$ as BAA.AAJ and it
becomes B52.4AJ in the year 2AA4 ith increment of 52.4AJ
The amount of =et profit after ta&ation in the year 2AA4 as B52.4AJ and it becomes
3E3.B7J in the year 2AA5 ith an increment of 22A.57J
The amount of =et profit after ta&ation in the year 2AA5 as 3E3.B7J and it becomes
2A4.7$J in the year 2AA7 ith decrement of B77.$3J
The amount of =et profit after ta&ation in the year 2AA7 as 2A4.7$J and it becomes
B3B.55J in the year 2AAE ith decrement of 7$.AEJ
And the amount of =et profit after ta&ation in the final year 2AAE is B3B.55J
)//= )//0 )//* )//> )//.
%arning per share ? +asic BAA.AAJ B52.4AJ 3E3.B7J 2A3.5CJ CC.72J
Tren( Ana#)s*s
0.00%
100.00%
200.00%
300.00%
400.00%
500.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
'arnin# per share &
0asic
BA7
Earnin3 per sare D Basi4
The amount of %arning per share ? +asic in the first year 2AA$ as .s.A.E4 and it
becomes .s.B.3E in the year 2AA4 ith increment of .s.A.43
The amount of %arning per share ? +asic in the year 2AA4 as .s.B.3E and it becomes
.s.3.24 in the year 2AA5 ith an increment of .s.B.E7
The amount of %arning per share ? +asic in the year 2AA5 as .s.3.24 and it becomes
.s.B.73 in the year 2AA7 ith decrement of .s.B.42
The amount of %arning per share ? +asic in the year 2AA7 as .s.B.73 and it becomes
.s.A.E4 in the year 2AAE ith decrement of .s.A.EE
And the amount of %arning per share ? +asic in the final year 2AAE is .s.A.E4
The amount of %arning per share ? +asic in the first year 2AA$ as BAA.AAJ and it
The amount of %arning per share ? +asic in the year 2AA4 as B52.4AJ and it becomes
The amount of %arning per share ? +asic in the year 2AA5 as 3E3.B7J and it becomes
2A3.5CJ in the year 2AA7 ith decrement of B7C.$EJ
The amount of %arning per share ? +asic in the year 2AA7 as 2A3.5CJ and it becomes
CC.72J in the year 2AAE ith decrement of BA3.C7J
And the amount of %arning per share ? +asic in the final year 2AAE is CC.72J
BAE
)//= )//0 )//* )//> )//.
%arning per share ? 2iluted BAA.AAJ B52.4AJ 3E3.B7J 2A3.5CJ BA2.44J
Tren( Ana#)s*s
0.00%
100.00%
200.00%
300.00%
400.00%
500.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
'arnin# per share & Dilted
Earnin3 per sare D Di&uted
The amount of %arning per share ? 2iluted in the first year 2AA$ as .s.A.74 and it
becomes .s.B.22 in the year 2AA4 ith increment of .s.A.$7
The amount of %arning per share ? 2iluted in the year 2AA4 as .s.B.22 and it becomes
.s.2.E7 in the year 2AA5 ith an increment of .s.B.54
The amount of %arning per share ? 2iluted in the year 2AA5 as .s.2.E7 and it becomes
.s.B.43 in the year 2AA7 ith decrement of .s.B.3$
The amount of %arning per share ? 2iluted in the year 2AA7 as .s.B.43 and it becomes
.s.A.77 in the year 2AAE ith decrement of .s.A.75
And the amount of %arning per share ? 2iluted in the final year 2AAE is .s.A.77.
The amount of %arning per share ? 2iluted in the first year 2AA$ as BAA.AAJ and it
The amount of %arning per share ? 2iluted in the year 2AA4 as B52.4AJ and it becomes
BAC
The amount of %arning per share ? 2iluted in the year 2AA5 as 3E3.B7J and it becomes
2A3.5CJ in the year 2AA7 ith decrement of B7C.$EJ
The amount of %arning per share ? 2iluted in the year 2AA7 as 2A3.5CJ and it becomes
BA2.44J in the year 2AAE ith decrement of BAB.B$J
And the amount of %arning per share ? 2iluted in the final year 2AAE is BA2.44J
BBA
In4ome Statement +5erti4a& "na&ysis-
)//= )//0 )//* )//> )//.
=et 'ales 7A.7BJ 72.44J 74.$BJ 72.$4J 7$.55J
.ert*ca# Ana#)s*s
68.00%
70.00%
72.00%
74.00%
76.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
5et +ales
'et Sa&es
The amount of =et 'ales in the year 2AA$ as .s.2296231 and it increases to .s.2E$4B$3
in the year 2AA4 ith an increment of .s.4$ECB2
And the amount of =et 'ales in the year 2AA4 as .s.2E$4B$3 and it increases to
.s.$2E5B3E in the year 2AA5 ith an increment of .s.B$$ACC4
The amount of =et 'ales in the year 2AA5 as .s.$2E5B3E and it decreases to
.s.3$532E3 in the year 2AA7 ith and decrement of .s.E22E44
The amount of =et 'ales in the year 2AA7 as .s.3$532E3 and it increases to
.s.34$4CA2 in the year 2AAE ith and increment of .s.E25BC
And the amount =et 'ales in the final year 2AAE is .s.34$4CA2.
The amount of =et 'ales in the year 2AA$ as 7A.7BJ .and it increases to 72.44J in the
year 2AA4 ith an increment of B.E$J
And the amount of =et 'ales in the year 2AA4 as 72.44J and it increases to 74.$BJ in
the year 2AA5 ith an increment of 2.E5J
BBB
The amount of =et 'ales in the year 2AA5 as 74.$BJ and it decreases to 72.$4J in the
year 2AA7 ith decrement of 2.C5J
The amount of =et 'ales in the year 2AA7 as 72.$BJ and it increases to 7$.55J in the
year 2AAE ith increment of 2.24J
And the amount =et 'ales in the final year 2AAE is 7$.55J
)//= )//0 )//* )//> )//.
(ost of sales $7.CAJ $$.C7J 35.E5J $C.52J 5A.EBJ
.Ert*ca# Ana#)s*s
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
2ess3 Cost o% sales
Cost o! sa&es
The amount of (ost of sales in the year 2AA$ as .s.B444$A7 and it increases to
.s.B753457 in the year 2AA4 ith an increment of .s.2AEB5A
And the amount of (ost of sales in the year 2AA4 as .s.B753457 and it increases to
.s.2AC4A27 in the year 2AA5 ith an increment of .s.33B$5A.
The amount of (ost of sales in the year 2AA5 as .s.2AC4A27 and it increases to
.s.237B7EE in the year 2AA7 ith and increment of .s.27575B
BB2
The amount of (ost of sales in the year 2AA7 as .s.237B7EE and it increases to
.s.2EE77CA in the year 2AAE ith and increment of .s.4B5AA2
And the amount (ost of sales in the final year 2AAE is 2EE77CA.
The amount of (ost of sales in the year 2AA$ as $7.CAJ .and it decreases to $$.C7J in
the year 2AA4 ith decrement of 2.C3J
And the amount of (ost of sales in the year 2AA4 as $$.C7J and it decreases to 35.E5J
in the year 2AA5 ith decrement of E.BBJ
The amount of (ost of sales in the year 2AA5 as 35.E5J and it increases to $C.52J in
the year 2AA7 ith increment of B2.75J
The amount of (ost of sales in the year 2AA7 as $C.52J and it increases to 5A.EBJ in
the year 2AAE ith and increment of BB.BCJ
And the amount (ost of sales in the final year 2AAE is BB.BCJ
)//= )//0 )//* )//> )//.
1ross profit 22.EBJ 27.4EJ 3E.44J 22.E3J B3.E5J
.ert*ca# Ana#)s*s
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
;ross pro%it
BB3
Gross pro!it
The amount of 1ross Profit in the first year 2AA$ as .s.7$AE2$ and it becomes
.s.BAEB475 in the year 2AA4 ith an increment of .s.3$A742.
The amount of 1ross Profit in the year 2AA4 as .s.BAEB475 and it becomes .s.2BCBBBB
in the year 2AA5 ith an increment of .s.BBAC434
The amount of 1ross Profit in the year 2AA5 as .s.2BCBBBB and it becomes .s.BACB$C4
in the year 2AA7 ith a decrement of .s.BACC5B5
The amount of 1ross Profit in the year 2AA7 as .s.BACB$C4 and it becomes .s.54EBB2
in the year 2AAE ith decrement of .s.$333E3.
And the amount of 1ross Profit in the final year 2AAE is .s.54EBB2.
The amount of 1ross Profit in the first year 2AA$ as 22.EBJ and it becomes 27.4EJ in
the year 2AA4 ith an increment of $.77J
The amount of 1ross Profit in the year 2AA4 as 27.4EJ and it becomes 3E.44J in the
year 2AA5 ith an increment of BA.C7J
The amount of 1ross Profit in the year 2AA5 as 3E.44J and it becomes 22.E3J in the
year 2AA7 ith a decrement of B4.72J
The amount of 1ross Profit in the year 2AA7 as 22.E3J and it becomes B3.E5J in the
year 2AAE ith decrement of E.C7J
And the amount of 1ross Profit in the final year 2AAE is B3.E5J
BB$
)//= )//0 )//* )//> )//.
0ther income B.32J A.2CJ A.75J B.4$J 2.27J
.ert*ca# Ana#)s*s
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
2004 2005 2006 2007 2008
)ears
P
e
r
c
e
n
t
a
g
e
.ther inco$e
Oter in4ome
The amount of other income in the first year 2AA$ as .s.$27$$ and it becomes
.s.BB2B5 in the year 2AA4 ith decrement of .s.3B42E
The amount of other income in the year 2AA4 as .s.BB2B5 and it becomes .s.$3323 in
the year 2AA5 ith an increment of .s.32BA7
The amount of other income in the year 2AA5 as .s.$3323 and it becomes .s.73E34 in
the year 2AA7 ith increment of .s.3A4B2
The amount of other income in the year 2AA7 as .s.73E34 and it becomes .s.BA747$ in
the year 2AAE ith increment of .s.3373C
And the amount of other income in the final year 2AAE is .s.BA747$
The amount of other income in the first year 2AA$ as B.32J and it becomes A.2CJ in
the year 2AA4 ith decrement of B.A3J
The amount of other income in the year 2AA4 as A.2CJ and it becomes A.75J in the
year 2AA5 ith an increment of A.$7J
BB4
The amount of other income in the year 2AA5 as A.75J and it becomes B.4$J in the
year 2AA7 ith increment of A.7EJ
The amount of other income in the year 2AA7 as B.4$J and it becomes 2.27J in the
year 2AAE ith increment of A.73J
And the amount of other income in the final year 2AAE is 2.27J
)//= )//0 )//* )//> )//.
2istribution cost A.53J A.4$J A.45J A.E4J B.B2J
.ert*ca# Ana#)s*s
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
Distribtion cost3
Distri<ution 4ost
The amount of 2istribution cost in the first year 2AA$ as .s.2A$B5 and it becomes
.s.2B333 in the year 2AA4 ith increment of .s.CB7
The amount of 2istribution cost in the year 2AA4 as 2B333 and it becomes .s.3B5C$ in
the year 2AA5 ith an increment of .s.BA35B.
BB5
The amount of 2istribution cost in the year 2AA5 as .s.3B5C$ and it becomes .s.$A5$4
in the year 2AA7 ith increment of .s.EC4B.
The amount of 2istribution cost in the year 2AA7 as .s.$A5$4 and it becomes .s.433E3
in the year 2AAE ith increment of .s.B273E
And the amount of 2istribution cost in the final year 2AAE is .s.433E3.
The amount of 2istribution cost in the first year 2AA$ as A.53J and it becomes A.4$J
in the year 2AA4 ith decrement of A.ACJ
The amount of 2istribution cost in the year 2AA4 as A.4$J and it becomes A.45J in the
year 2AA5 ith an increment of A.A2J
The amount of 2istribution cost in the year 2AA5 as A.45J and it becomes A.E4J in the
year 2AA7 ith increment of A.2CJ
The amount of 2istribution cost in the year 2AA7 as A.E4J and it becomes B.B2J in the
year 2AAE ith increment of A.27J
And the amount of 2istribution cost in the final year 2AAE is B.B2J
)//= )//0 )//* )//> )//.
Administrative e&penses B.22J B.AEJ B.B7J B.$CJ B.5BJ
BB7
.ert*ca# Ana#)s*s
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
1.60%
1.80%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
)d$inistrati*e e(penses3
"dministrati:e eFpenses
The amount of Administrative e&penses in the first year 2AA$ as .s.3C434 and it
becomes .s.$22C2 in the year 2AA4 ith increment of .s.2747.
The amount of Administrative e&penses in the year 2AA4 as .s.$22C2 and it becomes
.s.55527 in the year 2AA5 ith an increment of .s.2$334.
The amount of Administrative e&penses in the year 2AA5 as .s.55527 and it becomes
.s.7B3A2 in the year 2AA7 ith increment of .s.$574
The amount of Administrative e&penses in the year 2AA7 as .s.7B3A2 and it becomes
.s.75$C4 in the year 2AAE ith increment of .s.4BC3.
And the amount of Administrative e&penses in the final year 2AAE is .s.75$C4.
The amount of Administrative e&penses in the first year 2AA$ as B.22J and it becomes
B.AEJ in the year 2AA4 ith decrement of A.B$J
The amount of Administrative e&penses in the year 2AA4 as B.AEJ and it becomes
B.B7J in the year 2AA5 ith increment of A.ACJ
The amount of Administrative e&penses in the year 2AA5 as B.B7J and it becomes
B.$CJ in the year 2AA7 ith increment of A.32J
BBE
The amount of Administrative e&penses in the year 2AA7 as B.$CJ and it becomes
B.5BJ in the year 2AAE ith increment of A.B2J
And the amount of Administrative e&penses in the final year 2AAE is B.5BJ
)//= )//0 )//* )//> )//.
0ther 0perating e&penses A.A2J B.A3J B.55J B.22J A.72J
.ert*ca# ana#)s*s
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
1.60%
1.80%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
.ther .peratin# e(penses3
Oter Operatin3 eFpenses
The amount of 0ther 0perating e&penses in the first year 2AA$ as .s.433 and it
becomes .s.$A$C3 in the year 2AA4 ith increment of .s.3CC5A
The amount of 0ther 0perating e&penses in the year 2AA4 as .s.$A$C3 and it becomes
.s.C$B27 in the year 2AA5 ith an increment of .s.4353$
The amount of 0ther 0perating e&penses in the year 2AA5 as .s.C$B27 and it becomes
.s.4EACE in the year 2AA7 ith decrement of .s.35A2C
BBC
The amount of 0ther 0perating e&penses in the year 2AA7 as .s.4EACE and it becomes
.s.3$2CA in the year 2AAE ith decrement of .s.23EAE.
And the amount of 0ther 0perating e&penses in the final year 2AAE is .s.3$2C.
The amount of 0ther 0perating e&penses in the first year 2AA$ as A.A2J and it becomes
B.A3J in the year 2AA4 ith increment of B.ABJ
The amount of 0ther 0perating e&penses in the year 2AA4 as B.A3J and it becomes
B.55J in the year 2AA5 ith an increment of A.53J
The amount of 0ther 0perating e&penses in the year 2AA5 as B.55J and it becomes
B.22J in the year 2AA7 ith decrement of A.$$J
The amount of 0ther 0perating e&penses in the year 2AA7 as B.22J and it becomes
A.72J in the year 2AAE ith decrement of A.4AJ
And the amount of 0ther 0perating e&penses in the final year 2AAE is A.72J
)//= )//0 )//* )//> )//.
Finance (ost 5.2CJ 4.E5J $.54J $.33J 3.ACJ
.ert*ca# Ana#)s*s
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
s
8inance Cost3
B2A
Finan4e Cost
The amount of Finance (ost in the first year 2AA$ as .s.2A$222 and it becomes
.s.22C533 in the year 2AA4 ith increment of .s.24$BB
The amount of Finance (ost in the year 2AA4 as .s.22C533 and it becomes .s.25$2C5
in the year 2AA5 ith an increment of .s.3$533.
The amount of Finance (ost in the year 2AA5 as .s.25$2C5 and it becomes .s.2A7BA4
in the year 2AA7 ith decrement of .s.47BCB
The amount of Finance (ost in the year 2AA7 as .s.2A7BA4 and it becomes .s.B$5C4$
in the year 2AAE ith decrement of .s.5AB4B.
And the amount of Finance (ost in the final year 2AAE is .s.B$5C4$
The amount of Finance (ost in the first year 2AA$ as 5.2CJ and it becomes 4.E5J in
the year 2AA4 ith decrement of A.$3J
The amount of Finance (ost in the year 2AA4 as 4.E5J and it becomes $.54J in the
year 2AA5 ith decrement of B.2BJ
The amount of Finance (ost in the year 2AA5 as $.54J and it becomes $.33J in the
year 2AA7 ith decrement of A.32J
The amount of Finance (ost in the year 2AA7 as $.33J and it becomes 3.ACJ in the
year 2AAE ith decrement of B.2$J
And the amount of Finance (ost in the final year 2AAE is 3.ACJ
B2B
)//= )//0 )//* )//> )//.
=et profit before ta&ation ?7.$CJ BC.35J 3B.2EJ B5.$CJ C.47J
.ert*ca# Ana#)s*s
&10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
5et pro%it be%ore ta(ation
The amount of =et profit before ta&ation in the first year 2AA$ as .s.?2$32CA and it
becomes 74CA$B in the year 2AA4
The amount of =et profit before ta&ation in the year 2AA4 as .s.74CA$B and it becomes
.s.B7775CA in the year 2AA5
The amount of =et profit before ta&ation in the year 2AA5 as .s.B7775CA and it
becomes .s.7EEBEA in the year 2AA7
The amount of =et profit before ta&ation in the year 2AA7 as .s.7EEBEA and it becomes
.s.$4$45$ in the year 2AAE
The amount of =et profit before ta&ation in the first year 2AA$ as ?7.$CJ and it
becomes BC.35J in the year 2AA4 ith increment of 25.E4J
The amount of =et profit before ta&ation in the year 2AA4 as BC.35J and it 3B.2EJ in
the year 2AA5 ith increment of BB.C2J
The amount of =et profit before ta&ation in the year 2AA5 as 3B.2EJ and it becomes
B5.$CJ in the year 2AA7 ith decrement of B$.7CJ
B22
The amount of =et profit before ta&ation in the year 2AA7 as B5.$CJ and it becomes
C.47J in the year 2AAE ith decrement of 5.C2J
And the amount of =et profit before ta&ation in the final year 2AAE is C.47J
)//= )//0 )//* )//> )//.
=et profit after ta&ation C.57J B3.A2J 2B.BEJ B3.42J E.7BJ
.ert*ca# Ana#)s*s
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
5et pro%it a%ter ta(ation
The amount of =et profit after ta&ation in the first year 2AA$ as .s.3B$B$C and it
becomes .s.4BA$C3 in the year 2AA4 ith increment of .s.BC53$$.
The amount of =et profit after ta&ation in the year 2AA4 as .'.4BA$C3 and it becomes
.s.B2A373C in the year 2AA5 ith an increment of .s.5C32$5
The amount of =et profit after ta&ation in the year 2AA5 as .s.B2A373C and it becomes
.s.5$5323 in the year 2AA7 ith decrement of .s.447$B5
The amount of =et profit after ta&ation in the year 2AA7 as .s.5$5323 and it becomes
.s.$B34CE in the year 2AAE ith decrement of .s.232724
And the amount of =et profit after ta&ation in the final year 2AAE is .s.$B34CE.
B23
The amount of =et profit after ta&ation in the first year 2AA$ as C.57J and it becomes
B3.A2J in the year 2AA4 ith increment of 3.34J
The amount of =et profit after ta&ation in the year 2AA4 as B3.A2J and it becomes
2B.BEJ in the year 2AA5 ith an increment of E.B5J
The amount of =et profit after ta&ation in the year 2AA5 as 2B.BEJ and it becomes
B3.42J in the year 2AA7 ith decrement of 7.55J
The amount of =et profit after ta&ation in the year 2AA7 as B3.42J and it becomes
E.7BJ in the year 2AAE ith decrement of 4.34J
And the amount of =et profit after ta&ation in the final year 2AAE is E.B7J
)//= )//0 )//* )//> )//.
%arning per share ? +asic A.AAJ A.AAJ A.AAJ A.AAJ A.AAJ
.ert*ca# Ana#)s*s
0.00%
0.00%
0.00%
0.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
'arnin# per share & 0asic
B2$
Earnin3 per sare D Basi4
The amount of %arning per share ? +asic in the first year 2AA$ as .s.A.E4 and it
becomes .s.B.3E in the year 2AA4 ith increment of .s.A.43
The amount of %arning per share ? +asic in the year 2AA4 as .s.B.3E and it becomes
.s.3.24 in the year 2AA5 ith an increment of .s.B.E7
The amount of %arning per share ? +asic in the year 2AA5 as .s.3.24 and it becomes
.s.B.73 in the year 2AA7 ith decrement of .s.B.42
The amount of %arning per share ? +asic in the year 2AA7 as .s.B.73 and it becomes
.s.A.E4 in the year 2AAE ith decrement of .s.A.EE
And the amount of %arning per share ? +asic in the final year 2AAE is .s.A.E4
The amount of earning per share ? +asic in the first year 2AA$, 2AA4, 2AA5, 2AA7 and
2AAE as A.AAJ
)//= )//0 )//* )//> )//.
%arning per share ? 2iluted A.AAJ A.AAJ A.AAJ A.AAJ A.AAJ
.ert*ca# Ana#)s*s
0.00%
0.00%
0.00%
0.00%
2004 2005 2006 2007 2008
Years
P
e
r
c
e
n
t
a
g
e
'arnin# per share & Dilted
B24
Earnin3 per sare D Di&uted
The amount of 'arnin# per share & Dilted in the first year 2AA$ as .s.A.74 and it
becomes .s.B.22 in the year 2AA4 ith increment of .s.A.$7
The amount of 'arnin# per share & Dilted in the year 2AA4 as .s.B.22 and it becomes
.s.2.E7 in the year 2AA5 ith an increment of .s.B.54
The amount of 'arnin# per share & Dilted in the year 2AA5 as .s.2.E7 and it becomes
.s.B.43 in the year 2AA7 ith decrement of .s.B.3$
The amount of 'arnin# per share & Dilted in the year 2AA7 as .s.B.43 and it becomes
.s.A.77 in the year 2AAE ith decrement of .s.A.75
And the amount of 'arnin# per share & Dilted in the final year 2AAE is .s.A.77.
The amount of earning per share ? 2iluted in the first year 2AA$, 2AA4, 2AA5, 2AA7 and
2AAE as A.AAJ
B25
B27
%atio "na&ysis
Current ratio K
bilities CurrentLia
ets CurrentAss
LiGuidity %atio "na&ysis
)//= )//0 )//* )//> )//.
CU%%E'T %"TIO (.0= /.2> (.)0 (.@0 ).(*
(3..%=T A''%T' 47$$5A BB72754 B47C3E2 BC43427 42C$AE3
(3..%=T 6IA+I6ITI%' 372BB5 B2A5C$5 B257BCE B$$22E7 2$4$75B
#*0'*(*t) Rat*&
1.54
0.97
1.25
1.35
2.16
0.00
0.50
1.00
1.50
2.00
2.50
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
Crrent /atio
The amount of (urrent Assets in the year 2AA$ as .s.47$$5A and the amount of current
liabilities in the first year 2AA$ as .s.372BB5 and current ratio as B.4$ in the year
2AA$.
And the amount current assets increases to .s.BB72754 in the year 2AA4 ith an
increment of .s.4CE3A4 and the amount of current liabilities becomes .s.B2A5C$5 in the
year 2AA4 ith increment of .s.E3$E3A and current ratio becomes A.C7 in the year 2AA4.
And the amount of current assets increases to .s.B47C3E2 in the year 2AA5 ith an
increment of .s.$A55B7 and the amount current liabilities becomes .s.B257BCE in the
B2E
year 2AA5 ith increment of .s.5A242 and the current ratio becomes B.24 in the year
2AA5.
The amount of current assets increases to .s.BC43427 in the year 2AA7 ith an increment
of .s.37$B$4 and the amount of current liabilities becomes .s.B$$22E7 in the year 2AA7
ith increment of .s.B74AEC and current ratio becomes B.34 in the year 2AA7.
And the amount of current assets increases to .s.42C$AE3 in the year 2AAE ith an
increment of .s.33$A445 and the amount of current liabilities becomes .s.2$4$75B in the
year 2AAE ith increment of .s.BAB2$7$ and the current ratio becomes 2.B5 in the year
2AAE.
'et 8orAin3 Capita& K current assets F current liabilities
LiGuidity %atios "na&ysis
)//= )//0 )//* )//> )//.
'et 8orAin3 Capita& )/)@== 1@=(.( @()(.= 0(()=/ ).@2@))
(3..%=T A''%T' 47$$5A BB72754 B47C3E2 BC43427 42C$AE3
L*0'*(*t) Rat*&
202344
&34181
312184
511240
2839322
&500000
0
500000
1000000
1500000
2000000
2500000
3000000
2004 2005 2006 2007 2008
Years
N
e
t

1
&
r
2
*
n
g

3
a
,
t
*
c
a
#
5et 7orkin# Capital
B2C
liabilities in the first year 2AA$ as .s.372BB5 and =et /or"ing (apital as 2A23$$ in
the year 2AA$.
year 2AA4 ith increment of .s.E3$E3A and =et /or"ing (apital becomes ?3$BEB in the
year 2AA4.
year 2AA5 ith increment of .s.5A242 and the =et /or"ing (apital becomes 3B2BE$ in
the year 2AA5.
And the amount of current assets increases to .s.BC43427 in the year 2AA7 ith an
increment of .s.37$B$4 and the amount of current liabilities becomes .s.B$$22E7 in the
year 2AA7 ith increment of .s.B74AEC and =et /or"ing (apital becomes 4BB2$A in the
year 2AA7.
year 2AAE ith increment of .s.BAB2$7$ and the =et /or"ing (apital becomes 2E3C322
in the year 2AAE.
"4id ratio K
bilities CurrentLia
Inventory et CurrentAss - ,
)//= )//0 )//* )//> )//.
"4id %atio (.@. /.2@ (.(@ (.)@ )./*
(3..%=T A''%T' 47$$5A BB72754 B47C3E2 BC43427 42C$AE3
'T0(8 I= T.A2% 5B5AA 44C3B B$4ACA BE33AC 23AAEC
B3A
L*0'*(*t) Rat*&
1.38
0.93
1.13
1.23
2.06
0.00
0.50
1.00
1.50
2.00
2.50
2004 2005 2006 2007 2008
Years
R
a
t
*
&
)cid /atio
liabilities in the first year 2AA$ as .s.372BB5 and the amount of 'toc" In Trade in the
first year 2AA$ as .s.5B5AA due to itch the Acid .atio becomes B.3E in the year 2AA$
year 2AA4 ith increment of .s.E3$E3A and the amount of 'toc" In Trade decreases to
.s.44C3B in the year 2AA4 ith decrement of .s.455C and the Acid .atio becomes A.C3
in 2AA4.
year 2AA5 ith increment of .s.5A242 and the amount of 'toc" In Trade increases to
.s.B$4ACA in the year 2AA5 ith increment of .s.44C3B and the Acid .atio becomes B.B3
in 2AA5.
The amount of current assets increases to .s.BC43427 in the year 2AA7 ith an increment
of .s.37$B$4 and the amount of current liabilities becomes .s.B$$22E7 in the year 2AA7
ith increment of .s.B74AEC and the amount of 'toc" In Trade becomes .s.BE33AC in
the year 2AA7 ith increment of .s.3E2BC and the Acid .atio becomes B.23 in 2AA7.
year 2AAE ith increment of .s.BAB2$7$ and the amount of 'toc" In Trade becomes
B3B
.s.23AAEC in the year 2AAE ith increment of .s.$57EA and Acid .atio becomes 2.A5 in
2AAE.
Cas ratio K
bilities currentlia
urities marketable nt cashequile cash - sec G , +
)//= )//0 )//* )//> )//.
Cas %atio /.0@ /.0/ /.*> /.)2 (.0=
(ash and ban" balances BC7AEE 5A3BBA E$74CA $23B33 37E3CAC
L*0'*(*t) Rat*&
0.53
0.50
0.67
0.29
1.54
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80
2004 2005 2006 2007 2008
Years
R
a
t
*
&
Cash /atio
The amount of (ash and ban" balances in the year 2AA$ as .s.BC7AEE and the amount
of current liabilities in the first year 2AA$ as .s.372BB5 due to hich the (ash .atio
becomes A.43 in the year 2AA$.
And the amount of (ash and ban" balances increases to .s.5A3BBA in the year 2AA4 ith
an increment of .s.$A5A22 and the amount of current liabilities becomes .s.B2A5C$5 in
B32
the year 2AA4 ith increment of .s.E3$E3A and (ash .atio becomes A.4A in the year
2AA4.
And the amount of (ash and ban" balances increases to .s.E$74CA in the year 2AA5 ith
an increment of .s.2$$$EA and the amount current liabilities becomes .s.B257BCE in the
year 2AA5 ith an increment of .s.5A242 and the (ash .atio becomes A.57 in the year
2AA5.
The amount of (ash and ban" balances decreases to .s.$23B33 in the year 2AA7 ith
decrement of .s.$2$$47 and the amount of current liabilities becomes .s.B$$22E7 in the
year 2AA7 ith an increment of .s.B74AEC and (ash .atio becomes A.2C in the year
2AA7.
And the amount of (ash and ban" balances increases to .s.37E3CAC in the year 2AAE
ith an increment of .s.335A775 and the amount of current liabilities becomes
.s.2$4$75B in the year 2AAE ith an increment of .s.BAB2$7$ and the (ash .atio
becomes B.4$ in the year 2AAE.
De<tHeGuity ratio K
sequity r shareholde
lities totalliabi
H
)//= )//0 )//* )//> )//.
De<tHEGuity %atio @./0 ).0= (..2 (.>( (.@=
Total 6iabilities 4CBA343 52237EE 5BCEBAE 5$AA5EE B2$4$$C3
'!A.% (APITA6 A=2 .%'%.*%' BC3CB3$ 2$$C52$ 32E25B5 37342A5 C2E3CEB
B33
De4t Rat*&
3.05
2.54
1.89
1.71
1.34
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
DebtD'>ity /atio
The amount of Total liabilities in the first year 2AA$ as .s.4CBA343 and the amount of
'!A.% (APITA6 A=2 .%'%.*%' as .s.BC3CB3$ due to hich 2ebt9%>uity .atio
becomes 3.A4 in the year 2AA$.
And the amount of Total liabilities becomes .s.52237EE in the year 2AA4 ith an
increment of .s.3B3$34 and the amount of '!A.% (APITA6 A=2 .%'%.*%'
becomes .s.2$$C52$ in the year 2AA4 ith an increment of .s.4BA$CA and the
2ebt9%>uity .atio becomes 2.4$ in the year 2AA4.
And the amount of Total liabilities becomes .s.5BCEBAE in the year 2AA5 ith decrement
of .s.245EA and the amount of '!A.% (APITA6 A=2 .%'%.*%' becomes
.s.32E25B5 in the year 2AA5 ith an increment of .s.E32CC2 and the 2ebt9%>uity .atio
becomes B.EC in the year 2AA5.
And the amount of Total liabilities becomes .s.5$AA5EE in the year 2AA7 ith an
increment of .s.2A24EA and the amount of '!A.% (APITA6 A=2 .%'%.*%'
becomes .s.37342A5 in the year 2AA7 ith an increment of .s.$424CA and the
2ebt9%>uity .atio becomes B.7B in the year 2AA7.
And the amount of Total liabilities becomes .s.B2$4$$C3 in the year 2AAE ith an
increment of .s.5A43EA4 and the amount of '!A.% (APITA6 A=2 .%'%.*%'
becomes .s.C2E3CEB in the year 2AAE ith an increment of .s.44$E774 and the
2ebt9%>uity .atio becomes B.3$ in the year 2AAE.
B3$
De<t to tan3i<&e net Cort K
- int H , ets angibleass sequity r shareholde
lities totalliabi

)//= )//0 )//* )//> )//.
De<t to tan3i<&e net Cort @./0 ).0= (..2 (.>( (.@=
Total 6iabilities 4CBA343 52237EE 5BCEBAE 5$AA5EE B2$4$$C3
Intangible assets A A A A A
De4t Rat*&
3.05
2.54
1.89
1.71
1.34
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
Debt to tan#ible net 6orth
The amount of Total liabilities in the first year 2AA$ as .s.4CBA343 and the amount of
'!A.% (APITA6 A=2 .%'%.*%' as .s.BC3CB3$ due to hich 2ebt9%>uity .atio
becomes 3.A4 in the year 2AA$.
And the amount of Total liabilities becomes .s.52237EE in the year 2AA4 ith an
increment of .s.3B3$34 and the amount of '!A.% (APITA6 A=2 .%'%.*%'
becomes .s.2$$C52$ in the year 2AA4 ith an increment of .s.4BA$CA and the
2ebt9%>uity .atio becomes 2.4$ in the year 2AA4.
B34
And the amount of Total liabilities becomes .s.5BCEBAE in the year 2AA5 ith decrement
of .s.245EA and the amount of '!A.% (APITA6 A=2 .%'%.*%' becomes
.s.32E25B5 in the year 2AA5 ith an increment of .s.E32CC2 and the 2ebt9%>uity .atio
becomes B.EC in the year 2AA5.
And the amount of Total liabilities becomes .s.5$AA5EE in the year 2AA7 ith an
increment of .s.2A24EA and the amount of '!A.% (APITA6 A=2 .%'%.*%'
becomes .s.37342A5 in the year 2AA7 ith an increment of .s.$424CA and the
2ebt9%>uity .atio becomes B.7B in the year 2AA7.
And the amount of Total liabilities becomes .s.B2$4$$C3 in the year 2AAE ith an
increment of .s.5A43EA4 and the amount of '!A.% (APITA6 A=2 .%'%.*%'
becomes .s.C2E3CEB in the year 2AAE ith an increment of .s.44$E774 and the
2ebt9%>uity .atio becomes B.3$ in the year 2AAE.
DayIs Sa&es in a44ount re4ei:a<&e J
- 354 9 ,netsales
eceivable ssaccountr averagegro
)//= )//0 )//* )//> )//.
DayEs Sa&es in a44ount re4ei:a<&e >.() (@.>* ).(> )./* ).>>
T.A2% 2%+T' $$7EC BA723B 24$74 BC44E 25C27
=et 'ales 22C523B 2E$4B$3 $2E5B3E 3$532E3 34$4CA2
B35
Act*5*t) Rat*&
7.12
13.76
2.17 2.06
2.77
0.00
2.00
4.00
6.00
8.00
10.00
12.00
14.00
16.00
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
Day?s +ales in accont recei*able
The amount of Trade debts in the year 2AA$ as .s.$$7EC and the amount of =et 'ales in
the first year 2AA$ as .s.22C523B and the 2ayHs 'ales in account receivable becomes
7.B2 in the year 2AA$.
And the amount Trade debts increases to .s.BA723B in the year 2AA4 ith an increment
of .s.52$$2 and the amount of =et 'ales becomes .s.2E$4B$3 in the year 2AA4 ith
increment of .s.4$ECB2 and the 2ayHs 'ales in account receivable becomes B3.75 in the
year 2AA4.
And the amount Trade debts decreases to .s.24$74 in the year 2AA5 ith decrement of
.s.EB745 and the amount of =et 'ales becomes .s.$2E5B3E in the year 2AA5 ith
increment of .s.B$$ACC4 and the 2ayHs 'ales in account receivable becomes 2.B7 in the
year 2AA5.
And the amount Trade debts decreases to .s.BC44E in the year 2AA7 ith decrement of
.s.4CB7 and the amount of =et 'ales becomes .s.3$532E3 in the year 2AA7 ith
decrement of .s.E22EEE4 and the 2ayHs 'ales in account receivable becomes 2.A5 in the
year 2AA7.
And the amount Trade debts increases to .s.25C27 in the year 2AAE ith increment of
.s.735C and the amount of =et 'ales becomes .s.34$4CA2 in the year 2AAE ith
increment of .s.E25BC and the 2ayHs 'ales in account receivable becomes 2.77 in the
year 2AAE.
B37
"44ount re4ei:a<&e turn o:erK
ables ountreceiv averageacc
netsales
)//= )//0 )//* )//> )//.
"44ount %e4ei:a<&e Turn O:er 0(.)> )*.0@ (*..)0 (>>./. (@(.*2
T.A2% 2%+T' $$7EC BA723B 24$74 BC44E 25C27
Act*5*t) Rat*&
51.27
26.53
168.25
177.08
131.69
0.00
20.00
40.00
60.00
80.00
100.00
120.00
140.00
160.00
180.00
200.00
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
)ccont /ecei*able Trn .*er
The amount of Trade debts in the year 2AA$ as .s.$$7EC and the amount of =et 'ales in
the first year 2AA$ as .s.22C523B and the Account .eceivable Turn 0ver becomes 4.27
in the year 2AA$.
And the amount Trade debts increases to .s.BA723B in the year 2AA4 ith an increment
of .s.52$$2 and the amount of =et 'ales becomes .s.2E$4B$3 in the year 2AA4 ith
increment of .s.4$ECB2 and the Account .eceivable Turn 0ver becomes 25.43 in the
year 2AA4.
And the amount Trade debts decreases to .s.24$74 in the year 2AA5 ith decrement of
.s.EB745 and the amount of =et 'ales becomes .s.$2E5B3E in the year 2AA5 ith
B3E
increment of .s.B$$ACC4 and the Account .eceivable Turn 0ver becomes B5E.24 in the
year 2AA5.
And the amount Trade debts decreases to .s.BC44E in the year 2AA7 ith decrement of
.s.4CB7 and the amount of =et 'ales becomes .s.3$532E3 in the year 2AA7 ith
decrement of .s.E22EEE4 and the Account .eceivable Turn 0ver becomes B77.AE in the
year 2AA7.
And the amount Trade debts increases to .s.25C27 in the year 2AAE ith increment of
.s.735C and the amount of =et 'ales becomes .s.34$4CA2 in the year 2AAE ith
increment of .s.E25BC and the Account .eceivable Turn 0ver becomes B3B.5C in the
year 2AAE.
DayIs sa&es in in:entory K
- 354 9 ,CGS
ntiry endinginve
)//= )//0 )//* )//> )//.
DayEs sa&es in in:entory (=.=* ((.0. )0.). )..)( )2./.
(ost of sales B444$A7 B753457 2AC4A27 237B7EE 2EE77CA
Act*5*t) Rat*&
14.46
11.58
25.28
28.21
29.08
0.00
5.00
10.00
15.00
20.00
25.00
30.00
35.00
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
Day?s sales in in*entory
B3C
The amount of 'toc" In trade in the year 2AA$ as .s.5B5AA and the amount of (ost of
sales in the first year 2AA$ as .s.B444$A7 and the 2ayHs sale in inventory as B$.$5 in
the year 2AA$.
And the amount 'toc" in trade decreases to .s.44C3B in the year 2AA4 ith decrement of
.s.455C and the amount of (ost of sales becomes .s.B753457 in the year 2AA4 ith an
increment of .s.2AEB5A and the 2ayHs sale in inventory becomes BB.4E in the year 2AA4.
And the amount 'toc" in trade increases to .s.B$4ACA in the year 2AA5 ith an increment
of .s.ECB4C and the amount of (ost of sales becomes .s.2AC4A27 in the year 2AA5 ith
an increment of .s.33B$5A and the 2ayHs sale in inventory becomes 24.2E in the year
2AA5.
And the amount 'toc" in trade increases to .s.BE33AC in the year 2AA7 ith an increment
of .s.3E2BC and the amount of (ost of sales becomes .s.237B7EE in the year 2AA7 ith
an increment of .s.27575B and the 2ayHs sale in inventory becomes 2E.2B in the year
2AA7.
And the amount 'toc" in trade increases to .s.23AAEC in the year 2AAE ith an increment
of .s.$57EA and the amount of (ost of sales becomes .s.2EE77CA in the year 2AAE ith
an increment of .s.4B5AA2 and the 2ayHs sale in inventory becomes 2C.AE in the year
2AAE.
In:entory turn o:er K
entory averageinv
CGS
)//= )//0 )//* )//> )//.
In:entory turno:er *(.=* >2.@= .0./. >/.)( *@..*
(ost of sales B444$A7 B753457 2AC4A27 237B7EE 2EE77CA
B$A
Act*5*t) Rat*&
61.46
79.34
85.08
70.21
63.86
0.00
10.00
20.00
30.00
40.00
50.00
60.00
70.00
80.00
90.00
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
,n*entory trno*er
The amount of 'toc" In trade in the year 2AA$ as .s.5B5AA and the amount of (ost of
sales in the first year 2AA$ as .s.B444$A7 and the Inventory turnover as 5B.$5 in the
year 2AA$.
And the amount 'toc" in trade decreases to .s.44C3B in the year 2AA4 ith decrement of
.s.455C and the amount of (ost of sales becomes .s.B753457 in the year 2AA4 ith an
increment of .s.2AEB5A and the Inventory turnover becomes 7C.3$ in the year 2AA4.
And the amount 'toc" in trade increases to .s.B$4ACA in the year 2AA5 ith an increment
of .s.ECB4C and the amount of (ost of sales becomes .s.2AC4A27 in the year 2AA5 ith
an increment of .s.33B$5A and the Inventory turnover becomes E4.AE in the year 2AA5.
And the amount 'toc" in trade increases to .s.BE33AC in the year 2AA7 ith an increment
of .s.3E2BC and the amount of (ost of sales becomes .s.237B7EE in the year 2AA7 ith
an increment of .s.27575B and the Inventory turnover becomes 7A.2B in the year 2AA7.
And the amount 'toc" in trade increases to .s.23AAEC in the year 2AAE ith an increment
of .s.$57EA and the amount of (ost of sales becomes .s.2EE77CA in the year 2AAE ith
an increment of .s.4B5AA2 and the Inventory turnover becomes 53.E5 in the year 2AAE.
B$B
Tota& asset turn o:er K
alassets averagetot
netsales
)//= )//0 )//* )//> )//.
Tota& asset turno:er /.@2 /.=* /.*2 /.0= /.).
Total Assets 4CBA343 52237EE 5BCEBAE 5$AA5EE B2$4$$C3
Act*5*t) Rat*&
0.39
0.46
0.69
0.54
0.28
0.00
0.10
0.20
0.30
0.40
0.50
0.60
0.70
0.80
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
Total asset trno*er
The amount of =et 'ales in the year 2AA$ as .s.22C523B and the amount of Total
Assets in the first year 2AA$ as .s.4CBA343 and Total asset turnover as A.3C in the
year 2AA$.
And the amount =et 'ales increases to .s.2E$4B$3 in the year 2AA4 ith an increment of
.s.4$ECB2 and the amount of Total Assets becomes .s.52237EE in the year 2AA4 ith
increment of .s.3B3$34 and Total asset turnover becomes A.$5 in the year 2AA4.
And the amount =et 'ales increases to .s.$2E5B3E in the year 2AA5 ith an increment of
.s.B$$ACC4 and the amount of Total Assets becomes .s.5BCEBAE in the year 2AA5 ith
decrement of .s.245EA and Total asset turnover becomes A.5C in the year 2AA5.
B$2
And the amount =et 'ales decreases to .s.3$532E3 in the year 2AA7 ith decrement of
.s.E22E44 and the amount of Total Assets becomes .s.5$AA5EE in the year 2AA7 ith
increment of .s.2A24EA and Total asset turnover becomes A.4$ in the year 2AA7.
And the amount =et 'ales increases to .s.34$4CA2 in the year 2AAE ith an increment of
.s.E25BC and the amount of Total Assets becomes .s.B2$4$$C3 in the year 2AAE ith
increment of .s.5A43EA4 and Total asset turnover becomes A.2E in the year 2AAE.
Gross pro!it mar3in K
netsales
t grossprofi
)//= )//0 )//* )//> )//.
Gross pro!it mar3in +?- @).)*? @../(? 0(.()? @(.0)? (..0*?
1ross profit 7$AE2$ BAEB475 2BCBBBB BACB$C4 54EBB2
Pr&+*ta4*#*t) Rat*&
32.26%
38.01%
51.12%
31.52%
18.56%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
;ross pro%it $ar#in
B$3
The amount of 1ross Profit in the year 2AA$ as .s.7$AE2$ and the amount of =et 'ales
in the first year 2AA$ as .s.22C523B and 1ross Profit )argin as 32.25J in the year
2AA$.
And the amount of 1ross Profit increases to .s.BAEB475 in the year 2AA4 ith an
increment of .s.3$A742 and the amount of =et 'ales becomes .s.2E$4B$3 in the year
2AA4 ith increment of .s.4$ECB2 and the 1ross Profit )argin becomes 3E.ABJ in the
year 2AA4.
And the amount of 1ross Profit increases to .s.2BCBBBB in the year 2AA5 ith an
increment of .s.BBAC434 and the amount of =et 'ales becomes .s.$2E5B3E in the year
2AA5 ith increment of .s.B$$ACC4 and the 1ross Profit )argin becomes 4B.B2J in the
year 2AA5.
And the amount of 1ross Profit decreases to .s.BACB$C4 in the year 2AA7 ith decrement
of .s.BACC5B5 and the amount of =et 'ales becomes .s.3$532E3 in the year 2AA7 ith
decrement of .s.E22E44 and the 1ross Profit )argin becomes 3B.42J in the year 2AA7.
And the amount of 1ross Profit decreases to .s.54EBB2 in the year 2AAE ith decrement
of .s.$333E3 and the amount of =et 'ales becomes .s.34$4CA2 in the year 2AAE ith
increment of .s.E25BC and the 1ross Profit )argin becomes BE.45J in the year 2AAE.
Operatin3 in4ome mar3in K
netsales
ncome operatingi
)//= )//0 )//* )//> )//.
Operatin3 in4ome mar3in +?- (.>/? @=.>0? =>.*=? )..>=? (*.2*?
0perating Profit 3CA5E CEE573 2A$BCE$ CC42E4 5AB4BE
B$$
Pr&+*ta4*#*t) rat*&
1.70%
34.75%
47.64%
28.74%
16.96%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
.peratin# inco$e $ar#in
The amount of 0perating Profit in the year 2AA$ as .s.3CA5E and the amount of =et
'ales in the first year 2AA$ as .s.22C523B and 0perating Income )argin as B.7AJ in
the year 2AA$.
And the amount of 0perating Profit increases to .s.CEE573 in the year 2AA4 ith an
increment of .s.C$C5A4 and the amount of =et 'ales becomes .s.2E$4B$3 in the year
2AA4 ith increment of .s.4$ECB2 and the 0perating Income )argin becomes 3$.74J in
the year 2AA4.
And the amount of 0perating Profit increases to .s.2A$BCE$ in the year 2AA5 ith an
increment of .s.BA433BB and the amount of =et 'ales becomes .s.$2E5B3E in the year
2AA5 ith increment of .s.B$$ACC4 and the 0perating Income )argin becomes $7.5$J
in the year 2AA5.
And the amount of 0perating Profit decreases to .s.CC42E4 in the year 2AA7 ith
decrement of .s.BA$55CC and the amount of =et 'ales becomes .s.3$532E3 in the year
2AA7 ith decrement of .s.E22E44 and the 0perating Income )argin becomes 2E.7$J
in the year 2AA7.
And the amount of 0perating Profit decreases to .s.5AB4BE in the year 2AAE ith
decrement of .s.3C3757 and the amount of =et 'ales becomes .s.34$4CA2 in the year
2AAE ith increment of .s.E25BC and the 0perating Income )argin becomes B5.C5J in
the year 2AAE
B$4
'et pro!it mar3in K
netsales
netincome
)//= )//0 )//* )//> )//.
'et pro!it mar3in (@.*.? (>.2=? )../.? (..**? ((.**?
=et profit after ta&ation 3B$B$C 4BA$C3 B2A373C 5$5323 $B34CE
Pr&+*ta4*#*t) Rat*&
13.68%
17.94%
28.08%
18.66%
11.66%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
5et pro%it $ar#in
The amount of =et Profit after ta&ation in the year 2AA$ as .s.3B$B$C and the amount
of =et 'ales in the first year 2AA$ as .s.22C523B and =et Profit )argin as B3.5EJ in
the year 2AA$.
And the amount of =et profit after ta&ation increases to .s.4BA$C3 in the year 2AA4 ith
an increment of .s.BC53$$ and the amount of =et 'ales becomes .s.2E$4B$3 in the year
2AA4 ith increment of .s.4$ECB2 and the =et Profit )argin becomes B7.C$J in the
year 2AA4.
And the amount of =et profit after ta&ation increases to .s.B2A373C in the year 2AA5 ith
an increment of .s.5C32$5 and the amount of =et 'ales becomes .s.$2E5B3E in the year
B$5
2AA5 ith increment of .s.B$$ACC4 and the =et Profit )argin becomes 2E.AEJ in the
year 2AA5.
And the amount of =et profit after ta&ation decreases to .s.5$5323 in the year 2AA7 ith
decrement of .s.447$B5 and the amount of =et 'ales becomes .s.3$532E3 in the year
2AA7 ith decrement of .s.E22E44 and the =et Profit )argin becomes BE.55J in the
year 2AA7.
And the amount of =et profit after ta&ation decreases to .s.$B34CE in the year 2AAE ith
decrement of .s.232724 and the amount of =et 'ales becomes .s.34$4CA2 in the year
2AAE ith increment of .s.E25BC and the =et Profit )argin becomes BB.55J in the year
2AAE
%eturn on asset K
alassets averagetot
netincome
%atio "na&ysis
)//= )//0 )//* )//> )//.
%eturn on asset +?- 0.@)? ..)/? (2.=)? (/.(/? @.@)?
Total Assets 4CBA343 52237EE 5BCEBAE 5$AA5EE B2$4$$C3
Pr&+*ta4*#*t) Rat*&
5.32%
8.20%
19.42%
10.10%
3.32%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
/etrn on asset
B$7
of Total Assets in the first year 2AA$ as .s.4CBA343 and the .eturn on asset as 4.32J
in the year 2AA$.
an increment of .s.BC53$$ and the amount of Total Assets becomes .s.52237EE in the
year 2AA4 ith increment of .s.3B3$34 and the .eturn on asset becomes E.2AJ in the
year 2AA4.
an increment of .s.5C32$5 and the amount of Total Assets becomes .s.5BCEBAE in the
year 2AA5 ith decrement of .s.245EA and the .eturn on asset becomes BC.$2J in the
year 2AA5.
decrement of .s.447$B5 and the amount of Total Assets becomes .s.5$AA5EE in the year
2AA7 ith increment of .s.2A24EA and the .eturn on asset becomes BA.BAJ in the year
2AA7.
decrement of .s.232724 and the amount of Total Assets becomes .s.B2$4$$C3 in the
year 2AAE ith increment of .s.5A43EA4 and the .eturn on asset becomes 3.32J in the
year 2AAE
%eturn on sa&es to !iFed assets K
ets alfixedass averagetot
netsales
%atio "na&ysis
)//= )//0 )//* )//> )//.
%eturn on Sa&es to !iFed assets /.=2 /.*( /.2= /.>2 /.0/
FIL%2 A''%T' ? Tangible $72C24$ $54E272 $453BB4 $3C2$4A 7BA54CC
B$E
Pr&+*ta4*#*t) Rat*&
0.49
0.61
0.94
0.79
0.50
0.00
0.10
0.20
0.30
0.40
0.50
0.60
0.70
0.80
0.90
1.00
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
/etrn on +ales to %i(ed assets
The amount of =et 'ales in the year 2AA$ as .s.22C523B and the amount of Fi&ed
Assets in the first year 2AA$ as .s.$72C24$ and the .eturn on 'ales to fi&ed assets as
A.$C in the year 2AA$.
And the amount =et 'ales increases to .s.2E$4B$3 in the year 2AA4 ith an increment of
.s.4$ECB2 and the amount of Fi&ed Assets becomes .s.$54E272 in the year 2AA4 ith
decrement of .s.7ACE2 and the .eturn on 'ales to fi&ed assets becomes A.5B in the year
2AA4.
And the amount =et 'ales increases to .s.$2E5B3E in the year 2AA5 ith an increment of
.s.B$$ACC4 and the amount of Fi&ed Assets becomes .s.$453BB4 in the year 2AA5 ith
decrement of .s.C4B47 and the .eturn on 'ales to fi&ed assets becomes A.C$ in the year
2AA5.
And the amount =et 'ales decreases to .s.3$532E3 in the year 2AA7 ith decrement of
.s.E22E44 and the amount of Fi&ed Assets becomes .s.$3C2$4A in the year 2AA7 ith
decrement of .s.B7A554 and the .eturn on 'ales to fi&ed assets becomes A.7C in the year
2AA7.
And the amount =et 'ales increases to .s.34$4CA2 in the year 2AAE ith an increment of
.s.E25BC and the amount of Fi&ed Assets becomes .s.7BA54CC in the year 2AAE ith
increment of .s.27B$B$C and the .eturn on 'ales to fi&ed assets becomes A.4A in the
year 2AAE.
B$C
%eturn on tota& eGuity K
alequity averagetot
nd tockdivide preferreds redeemable netincome
%atio "na&ysis
)//= )//0 )//* )//> )//.
%eturn on tota& eGuity (*.)/? )/..=? @*.*>? (>.@/? =.=0?
Pr&+*ta4*#*t) Rat*&
16.20%
20.84%
36.67%
17.30%
4.45%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
/etrn on total e>ity
of 'hare (apital and .eserves in the first year 2AA$ as .s.BC3CB3$ and the .eturn on
total e>uity as B5.2AJ in the year 2AA$.
an increment of .s.BC53$$ and the amount of 'hare (apital and .eserves becomes
.s.2$$C52$ in the year 2AA4 ith increment of .s.4BA$CA and the .eturn on total e>uity
becomes 2A.E$J in the year 2AA4.
an increment of .s.5C32$5 and the amount of 'hare (apital and .eserves becomes
.s.32E25B5 in the year 2AA5 ith increment of .s.E32CC2 and the .eturn on total e>uity
becomes 35.57J in the year 2AA5.
decrement of .s.447$B5 and the amount of 'hare (apital and .eserves becomes
B4A
.s.37342A5 in the year 2AA7 ith increment of .s.$424CA and the .eturn on total e>uity
becomes B7.3AJ in the year 2AA7.
decrement of .s.232724 and the amount of 'hare (apital and .eserves becomes
.s.C2E3CEB in the year 2AAE ith increment of .s.44$E774 and the .eturn on total
e>uity becomes $.$4J in the year 2AAE
Earnin3 7er Common Sare K
ding ts monshareou agenoofcom weightaver
ividend preferredd netincome
tan

%atio "na&ysis
)//= )//0 )//* )//> )//.
Earnin3 per 4ommon sare /..0 (.@. @.)0 (.>@ /..0
=o. of common shares 37A7$3 37A7$3 37A7$3 37$$73 $EC$45
Pr&+*ta4*#*t) Rat*&
0.85
1.38
3.25
1.73
0.85
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
'arnin# per co$$on share
The amount of =et Profit after ta&ation in the year 2AA$ as .s.3B$B$C and the =umber
of common shares in the first year 2AA$ as 37A7$3 and the %arning per common share
as A.E4 in the year 2AA$.
B4B
an increment of .s.BC53$$ and the =umber of common shares becomes 37A7$3 in the
year 2AA4 and the %arning per common share becomes B.3E in the year 2AA4.
an increment of .s.5C32$5 and the =umber of common shares becomes 37A7$3 in the
year 2AA5 and the %arning per common share becomes 3.24 in the year 2AA5.
decrement of .s.447$B5 and the =umber of common shares becomes 37$$73 in the year
2AA7 ith increment of 373A and the %arning per common share becomes B.73 in the
year 2AA7.
decrement of .s.232724 and the =umber of common shares becomes $EC$45 in the year
2AAE ith increment of BB$CE3 and the %arning per common share becomes A.E4 in the
year 2AAE
7ri4eHearnin3 ratio K
Diluted!S
onShare ice!erComm "arket Pr
%atio "na&ysis
)//= )//0 )//* )//> )//.
7ri4eHearnin3 ratio (...2 (/.=. *.>0 (@.(> )/.2(
)ar"et price B$.B4 B2.75 BC.3E 2A.AC B5.A5
%arning per share ? 2iluted A.74 B.22 2.E7 B.43 A.77
B42
Pr&+*ta4*#*t) Rat*&
18.89
10.48
6.75
13.17
20.91
0.00
5.00
10.00
15.00
20.00
25.00
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
"riceDearnin# ratio
The mar"et price in the year 2AA$ as .s.B$.B4 and the %arning per share in the first year
2AA$ as A.74 and Price9earning ratio as BE.EC in the year 2AA$.
And the mar"et price decreases to B2.75 in the year 2AA4 ith decrement of B.3C and the
%arning per share becomes B.22 in the year 2AA4 ith increment of A.$7 and the
Price9earning ratio becomes BA.$E in the year 2AA4.
And the mar"et price increases to BC.3E in the year 2AA5 ith increment of 5.52 and the
%arning per share becomes 2.E7 in the year 2AA5 ith increment of B.54 and the
Price9earning ratio becomes 5.74 in the year 2AA5.
And the mar"et price increases to 2A.AC in the year 2AA7 ith increment of A.7B and the
%arning per share becomes B.43 in the year 2AA7 ith decrement of B.3$ and the
Price9earning ratio becomes B3.B7 in the year 2AA7.
And the mar"et price decreases to B5.A5 in the year 2AAE ith decrement of $.A3 and the
%arning per share becomes A.77 in the year 2AAE ith decrement of A.75 and the
Price9earning ratio becomes 2A.CB in the year 2AAE.
De3ree o! !inan4ia& &e:era3e J
I# chandein$
tincome changeinne
J
J
B43
%atio "na&ysis
)//= )//0 )//* )//> )//.
De3ree o! !inan4ia& &e:era3e /.)/ /.*. /.0* /.>/
=et profit before ta&ation ?2$32CA 74CA$B B7775CA 7EEBEA $4$45$
Rat*& Ana#)s*s
0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
2004 2005 2006 2007 2008
Years
R
a
t
*
&
s
De#ree o% %inancial le*era#e
B4$
B44
S8OT "na&ysis
Stren3ts
o (apturing giantMs share in e&port mar"et
o Fauji Foundation 1roup becoming a "ey success factor
o 'ea route trading becoming a vital and cost efficient strategy
o (onsistency in clin"er e&ports in )id %ast and India
8eaAnesses
o Fuel costs to dampen the core earnings
o %&pansive e&port mar"et inflating the distribution costs
Opportunities
African )ar"et proving to be a buffer after Indian demands 'ubsides
Treats
o %&cessive regional capacity posing threat
o (ut in P'2P depressing local demand
B45
B47
BCG MatriF
B4E
Te !our se3ments o! te BCG MatriF
Placing products in the +(1 matri& provides $ categories in a portfolio of a company@
Stars ,high groth, high mar"et share-
o 'tars are using large amounts of cash. 'tars are leaders in the business.
Therefore they should also generate large amounts of cash.
o 'tars are fre>uently roughly in balance on net cash flo. !oever if
needed any attempt should be made to hold your mar"et share in 'tars,
because the reards ill be (ash (os if mar"et share is "ept.
Cas CoCs ,lo groth, high mar"et share-
o Profits and cash generation should be high. +ecause of the lo groth,
investments hich are needed should be lo.
o (ash (os are often the stars of yesterday and they are the foundation of a
company.
Do3s ,lo groth, lo mar"et share-
o Avoid and minimi<e the number of 2ogs in a company.
o /atch out for e&pensive Nrescue plansM.
o 2ogs must deliver cash, otherise they must be li>uidated.
Kuestion MarAs ,high groth, lo mar"et share-
o :uestion )ar"s have the orst cash characteristics of all, because they
have high cash demands and generate lo returns, because of their lo
mar"et share.
o If the mar"et share remains unchanged, :uestion )ar"s ill simply
absorb great amounts of cash.
o %ither invests heavily, or sells off, or invests nothing and generates any
cash that you can. Increase mar"et share or deliver cash.
Te BCG MatriF and one si#e !its a&& strate3ies
B4C
The +(1 )atri& method can help to understand a fre>uently made strategy mista"e@
having a one si<e fits all strategy approach, such as a generic groth target ,C percent per
year- or a generic return on capital of say C,4J for an entire corporation.
In such a scenario@
(ash (os +usiness 3nits ill reach their profit target easily. Their management
has an easy job. The e&ecutives are often praised anyho. %ven orse, they are
often alloed to reinvest substantial cash amounts in their mature businesses.
2ogs +usiness 3nits are fighting an impossible battle and, even orse, no and
then investments are made. These are hopeless attempts to Oturn the business
aroundO.
As a result all :uestion )ar"s and 'tars receive only mediocre investment funds.
In this ay they can never become (ash (os. These inade>uate invested sums
of money are a aste of money. %ither these '+3s should receive enough
investment funds to enable them to achieve a real mar"et dominance and become
(ash (os ,or 'tars-, or otherise companies are advised to disinvest. They can
then try to get any possible cash from the :uestion )ar"s that ere not selected.
Oter uses and <ene!its o! te BCG MatriF
If a company is able to use the e&perience curve to its advantage, it should be able
to manufacture and sell ne products at a price that is lo enough to get early
mar"et share leadership. 0nce it becomes a star, it is destined to be profitable.
+(1 model is helpful for managers to evaluate balance in the firmMs current
portfolio of 'tars, (ash (os, :uestion )ar"s and 2ogs.
+(1 method is applicable to large companies that see" volume and e&perience
effects.
The model is simple and easy to understand.
It provides a base for management to decide and prepare for future actions.
Limitations o! te BCG MatriF
B5A
'ome limitations of the +oston (onsulting 1roup )atri& include@
It neglects the effects of synergy beteen business units.
!igh mar"et share is not the only success factor.
)ar"et groth is not the only indicator for attractiveness of a mar"et.
'ometimes 2ogs can earn even more cash as (ash (os.
The problems of getting data on the mar"et share and mar"et groth.
There is no clear definition of hat constitutes a Omar"etO.
A high mar"et share does not necessarily lead to profitability all the time.
The model uses only to dimensions F mar"et share and groth rate. This may
tempt management to emphasi<e a particular product, or to divest prematurely.
A business ith a lo mar"et share can be profitable too.
The model neglects small competitors that have fast groing mar"et shares.
As long as the +(1 )atri& of Fauji (ement (ompany 6imited is concerned, because the
company is out of danger <one that is hy it lies in the category of :uestion )ar" of
+(1 )atri&. The reason for lying in the :uestion )ar" field is that because the company
is groing ell but it is not capturing high mar"et share because of others cement
companies li"e 2.1. 8han (ement and 6uc"y (ement etc.
B5B
B52
B53
B5$
B54
B55
Con4&usion
I foresee groth in earrings of cement companies in the years to come. 'imilarly the said
position ill be ith F((. I e&pect positive earnings of F((6 in the coming years#
currently e maintain our stance by recommend P+3QR on F((6.
B57
B5E
%e4ommendations
/e recommend P+3QR for the scrip, although e are bullish vieing that most of the
cement stoc" often trade belo the sector P%. and this is also true for Fauji (ement, but
as far as groth sector is concerned our stance for fauji cement is neutral, even though
the stoc" mar"et is currently not at bullish, fauji cement is out of danger <one as they
have reprofiled its debts hich ultimately reduce its cost of borroings thus, moving
toards sound fundamentals.
B5C
B7A
"nneFure
Ba&an4e Seet
Ba&an4e Seet
"s on De4em<erL.. %S+///-
)//= )//0 )//* )//> )//.
CU%%E'T "SSETS 0>==*/
((>)>*
0
(0>2@.
)
(20@0)
> 0)2=/.@
Cas and <anA <a&an4es (2>/.. */@((/ .=>02/ =)@(@@ @>.@2/2
2eposit accounts B37$33 45AB77 7CEB22 $A2CA7 37455BB
(urrent accounts 2B325 24E$A $C243 2AA$E 27A3C
(ollection accounts 3E274 B5E3B A A A
(ash in hand 4$ 252 2B4 B7E 24C
"d:an4esB DepositsB prepayments and oter re4ei:a<&es: >@0.@ =*/=( >/@=/ .0.>0. @=00*>
To suppliers 3$A$$ BEB$E 3B423 EB44EE B442B
To employees $$C 7E3 B53C 52B 2$73
2ue from associated underta"ing ? unsecured BB27 BB24 3BCA A A
2eposits B3B3 B$E5 BE54 B7C4 4737
Prepayments BA5A5 $3B$ CC37 3B24 3C55
%&cise duty CCBB 3A47 A A A
Advance ta& ?net A 7ECB B3E7$ B3BA$ 233A2
B7B
'ales ta& refundable ?net 377$ A A A E27BC
2erivative foreign currency options used as hedging instrument A A A A E$35$
Interest accrued 2B74 BAA2 4$75 4A77 B$E2E
Prepaid arrangement fee for loans A A A BBAAA 7$57A
)argin on letters of credit A A A A 2C35C
0ther receivables? (onsidered goods 5$4 E234 2E35 2AE$ 7B7C
0thers C43C A A 535$ B$3C
T%"DE DEBTS ==>.2 (/>)@( )0=>0 (200. )*2)>
Unse4ured )@.@@ )0/)( )>/=) (*((> =.=.
(onsidered goods 22255 23$4$ 24$74 775C A
(onsidered doubtful B457 B457 B457 E3$E $E$E
'ecure?considered goods 22423 E3777 A BB7EC 25C27
6ess@ Provision for doubtful debts ?B457 ?B457 ?B457 ?E3$E ?$E$E
STOC6 I' T%"DE *(*// 002@( (=0/2/ (.@@/2 )@//.2
.a and pac"ing material B422$ BE$5C 2EAB2 23C3B 3B27B
/or" in process 2775B BB52$ C357B BB422B B4242C
Finished goods BE5B4 24E3E 23$A7 $$B47 $52EC
STO%ESB S7"%ES "'D LOOSE TOOLS (2>=// @*/=0) =2/..> =*.>*2 2/>02(
'tores 7BE37 BA7533 BCE$E4 5BCC7 $B434E
'pares BBE32$ 2$$4B$ 2EABE3 3C$A$5 $7E47C
6oose tools 723C E3A4 B22BC B2725 B354$
DEFE%%ED T"9 "SSETS 1 'ET 0>//@2 @@>(=/ / / /
LO'G TE%M DE7OSITS @**// =**(( =**(( =**(( =**((
Islamabad %lectric 'upply (ompany 6imited 2B5AA 2B5AA 2B5AA 2B5AA 2B5AA
'ui =orthern 1as Pipelines 6imited B4AAA 24ABB 24ABB 24ABB 24ABB
LO'G TE%M "D5"'CES 1 Considered 3oods / 2/// 2/// .(// >)//
'ui =orthern 1as Pipelines 6imited A A A CAAA EBAA
6ess@ Amount receivables ithin B2 months shon under
current assets A A A ?CAA ?CAA
FI9ED "SSETS 1 Tan3i<&e:
=>)2)0
=
=*0.)>
)
=0*@((
0
=@2)=0
/ >(/*022
Property, Plant and e>uipment
$72C24
$
$54E27
2
$453BB
4
$3C2$4
A 7BA54CC
Tota& "ssets
02(/@0
@
*))@>.
.
*(2.(/
.
*=//*.
. ()=0==2@
CU%%E'T LI"BILITIES @>)((*
()/*2=
*
()*>(2
.
(==)).
> )=0=>*(
Current portion o! &on3 term !inan4in3: .*0/. 00)220 00//// 00//// 00////
Sort term <orroCin3s 1 se4ured: / @/..>* )@*@0@ @>00(/ (@>.@*0
MarAup a44rued: (@(@) *2@0> 02>>( =.@@/ @@(.*
Trade and oter paya<&es: )>)=>* )>0>(. =)(/>= =*.==> =2@)(/
(reditors $454B $4C5C 4C753 EB755 54CC7
B72
Accrued liabilities 53$24 57BBC 53$7A BBEE2E B7$5C2
.etention money BAEBC BA433 B2E$3 BBCE5 B44B7
'ecurity deposits 24$52 2ECE2 37CE5 3CA4B 35CB5
Advances from customers 23B2B $2$$$ 4E7$$ 5777A $B3$$
/or"ersH ,Profit- Participation Fund A 3CC$C C3452 $B$E3 2$$B3
/or"ersH /elfare fund A A A B5AE4 24352
'ales ta& payable? net 223A$ 3B3AA 3C234 324CC A
%&cise duty payable 4E 3437 BA25$ E4E2 4752C
0ther liabilities EB535 4EE4 CA42 $A7AE $4323
(ompensated absences A A 33CCA 3525 35E5
3nclaimed dividend A A 2B54 4C53 233B
'O' 1 CU%%E'T LI"BILITIES
@022(/
@
)0*>)(
.
(*=.)2
=
())@(2
0 >(0>0(
%etention money paya<&es: / / / / (.()2
De!erred taF &ia<i&ity 1 net: / / )(0@.( @@22(. @*@(0=
De!erred &ia<i&ity =/)*= =0)(@ >2() .)>> 2=*.
Lon3 term !inan4in3:
@00..@
2
)0))//
0
(=)0//
( .>0/// @)0///
Loans !rom <anAin3 4ompanies 1 Se4ured:
!abib +an" 6imited CB5557 4CE$E4 $3BEBE 254B42
)(+ +an" 6imited CB5557 4CE$E4 $3BEBE 254B42
3nited +an" 6imited $4E333 2CC2$3 2B4CAC B32475
+an" Al Falah 6imited $4E333 2CC2$3 2B4CAC B32475
=I+ +an" 6imited A A B2C4$5 7C4$$
PI(I( (ommercial +an" 6imited 274AAA B7C4$4 A A
Fauji Foundation? 3nsecured 4AAAA A A A
Tota& Lia<i&ities
@2>()(
2
@>>=(*
=
)2(0=2
)
)**0=.
) @(>/0()
6ess@ amount payable ithin B2 months shon under current
liabilities ?442CC4 ?44AAAA ?44AAAA ?44AAAA
S,"%E C"7IT"L "'D %ESE%5ES
(2@2(@
=
)==2*)
=
@).)*(
*
@>@0)/
* 2).@2.(
%eser:es: / / / 1=02)(* (.*=/2=
"44umu&ated &oss
1
))00).
.
1
(>==>2
. 12((./* / /
Sare 4apita&:
=(2==)
)
=(2==)
)
=(2==)
)
=(2==)
) >=(2..>
Tota& Lia<i&ities M OCnerEs EGuity
02(/@0
@
*))@>.
.
*(2.(/
.
*=//*.
. ()=0==2@
B73
In4ome Statement
In4ome Statement
For te Year Ended $uneLL %S+///-
)//= )//0 )//* )//> )//.
'ales
32$725
2
3C2B35
2
45E3$4
4
$7EAA3
5 $7$C2B7
6ess@ 1overnment 6evies ?C4BA3B
?
BA752B
C
?
B3C73B
7
?
B3B574
3
?
B2A33B4
'et Sa&es
))2*)@
(
).=0(=
@
=).*(@
.
@=*@).
@ @0=02/)
Less: Cost o! sa&es (000=/ (>*@0* )/20/) )@>(>. )..>>2/
B7$
> > > .
.a material (onsumed BB4B5$ B35EBC 2A474B 23437C 227$B3
Pac"ing material consumed B44$E7 B$7CC$ BE2E73 22BBB5 2EBCB5
'tores and spares consumed 42E4 5473 5A42 BBB7B BACB$
'pares ritten off A A BE42E C3B A
'alaries, ages and benefits CB2EC E7ACB B$2A7A B337EA B33$4B
.ent, rates and ta&es C42 B37E 2452 22B3 42E$
Insurance B$C2A BEA7E B25EC B2353 B222B
Fuel consumed 45$4CB 5CCEBE E$3CAC C7CA$$ B$$BCBC
Poer consumed 3BAA$B 3323E3 3C37E4 $3B5AC $4B$BC
2epreciation 2$3A45 24BCEB 25B455 2752$$ 2CA$77
0thers 53BE4 7243E BA$E4C BBA23E E473A
B453C7
A
B74$54
3
2B7$5$
$
2$B$AE
E 2C$A7$$
Add@ 0pening or"?in?process 4EB7 2775B BB52$ C357B BB422B
6ess@ (losing or"?in?process ?2775B ?BB52$ ?C357B ?BB422B ?B4242C
Cost o! 3oods manu!a4tured
(0=)/)
*
(>>/>2
/
)/2)02
>
)@2)0@
. )2/@=@*
Add@ 0pening finished goods 3BCC5 BE5B4 24E3E 23$A7 $$B47
6ess@ (losing finished goods ?BE5B4 ?24E3E ?23$AE ?$$B47 ?$52EC
B444$A
7
B75345
7
2AC4A2
7
237B7E
E 2CAB3A$
6ess@ 0n consumption capitali<ed A A A A ?B34B$
B444$A
7
B75345
7
2AC4A2
7
237B7E
E 2EE77CA
Gross pro!it >=/.)=
(/.(0>
*
)(2(((
(
(/2(=2
0 *0.(()
Oter in4ome =)>== (()(* =@@)@ >@.@0 (/>0>=
Distri<ution 4ost: )/=(* )(@@@ @(*2= =/*=0 0@@.@
'alaries, ages and benefits B2ABB BBAE4 2B3EE 2A54B BE7CB
%&port freight and other charges A A A A 2$$E2
Traveling and entertainment BA3$ BE47 B$EE 7A4 BB27
*ehicle running and maintenance e&penses A A A 27$4 B5$B
.ent, rates and ta&es BB$$ BB72 BBB2 B343 B$5E
.epairs and maintenance $BB E72 524 B73 2EE
Printing and stationery 4AC 5$A $A3 $B5 4$4
2epreciation 7EB 73$ BAE3 B7$5 27A$
0thers $425 $C73 44C4 B2E45 2337
"dministrati:e eFpenses: @20@0 =))2) ***)> >(@/) >*=20
'alaries, ages and benefits 2BEB7 2BE34 34553 $2$3C $BB43
Traveling and entertainment 2A43 33BC $75C 3$E7 7$E3
*ehicle running and maintenance e&penses A A A 23E4 2B$4
Insurance 3B2 345 432 4C$ 5A2
.ent, rates and ta&es BA5$ B24A $3A2 4C3$ 5$54
B74
.epairs and maintenance 7BB BBBA 23A$ C5A 4CA
Printing and stationery E45 E5E B$53 BC$B B3BE
2epreciation BC5C 345E 3EE3 4$5$ C$74
0thers BA743 CCE5 B37BB EACE 725$
Oter Operatin3 eFpenses: 0@@ =/=2@ 2=()> 0./2. @=)2/
AuditsH remuneration 433 4$$ 454 43A 5AA
/or"ersH ,Profit- Participation Fund A 3CC$C C3452 $B$E3 2$$B3
/or"ersH /elfare Fund A A A B5AE4 C277
Finan4e Cost: )/=))) ))2*@@ )*=)2* )/>(/0 (=*20=
Fee and charges on loans BB5B4 BA45$ 4AA 4AA 4AA
Interest9mar"?up on long term finance 4732$ B747E$ 24$A3A 2AA5$2 B2CC2E
Interest9mar"?up on long term loan from
related party E73 3BE4 $45 A A
Interest on short term borroings and other
charges A $342 BAC4 77C BB5AC
Interest on /or"ersH Profit Participation Fund A A 2C72 C3 A
1uarantee commission BBBC$7 322AB $E3 C72 554
+an" charges and commission $447 34$7 $75A $BBC $242
Foreign e&change ris" insurance,F%.I-
contract B7CA5 A A A A
"morti#ation o! de!erred 4ost >*)(0) / / / /
'et pro!it <e!ore taFation 1)=@)2/ >02/=(
(>>>*2
/ >..(./ =0=0*=
6ess@ Ta&ation 447$3C ?2$E4$E ?473C4B ?B$BE47 ?$AC55
'et pro!it a!ter taFation @(=(=2 0(/=2@
()/@>@
2 *=*@)@ =(@02.
B75
)//= )//0 )//* )//> )//.
CU%%E'T "SSETS (//.//? )/=.(0? )>=.2@? @=/./*? 2)(.0.?
Cas and <anA <a&an4es (//.//? @/*./(? =@/./*? )(=.*2? (2(2.2(?
2eposit accounts BAA.AAJ $A7.5AJ 4EA.7$J 2C3.B7J 2733.$BJ
(urrent accounts BAA.AAJ B2B.B7J 23A.C4J C$.ABJ B25.7CJ
(ollection accounts BAA.AAJ $3.C7J A.AAJ A.AAJ A.AAJ
(ash in hand BAA.AAJ $E4.BCJ 3CE.B4J 32C.53J $7C.53J
"d:an4esB DepositsB prepayments and oter re4ei:a<&es: (//.//? *).0>? 20.02? ((*>./*? =*2.*@?
To suppliers BAA.AAJ 43.3BJ C2.4CJ 23C4.5CJ $4.4CJ
To employees BAA.AAJ B7$.3CJ 354.A3J B3E.3BJ 44A.7EJ
2ue from associated underta"ing ? unsecured BAA.AAJ CC.E2J 2E3.A4J A.AAJ A.AAJ
2eposits BAA.AAJ BB3.BEJ B$2.A$J B35.7BJ $35.C$J
Prepayments BAA.AAJ $A.5EJ C3.5CJ 2C.$5J 37.3CJ
%&cise duty BAA.AAJ 3A.E$J A.AAJ A.AAJ A.AAJ
Advance ta& ?net BAA.AAJ B74.E2J B55.A5J 2C4.3AJ
'ales ta& refundable ?net BAA.AAJ A.AAJ A.AAJ A.AAJ 2BCB.EBJ
2erivative foreign currency options used as hedging instrument BAA.AAJ
Interest accrued BAA.AAJ $5.A7J 24B.77J 233.$3J 5EB.74J
Prepaid arrangement fee for loans BAA.AAJ 57E.E2J
)argin on letters of credit BAA.AAJ
0ther receivables? (onsidered goods BAA.AAJ B275.7$J $3C.5CJ 323.BAJ BBB3.A2J
0thers BAA.AAJ A.AAJ A.AAJ 55.72J B4.ACJ
T%"DE DEBTS (//.//? )@2.=(? 0*...? =@.*>? */.()?
Unse4ured (//.//? (/=.2.? ((@.=*? *>.*)? )/.@=?
(onsidered goods BAA.AAJ BA4.3$J BB$.$BJ 3$.ECJ A.AAJ
(onsidered doubtful BAA.AAJ BAA.AAJ BAA.AAJ 432.7$J 3AC.3EJ
'ecure?considered goods BAA.AAJ 37B.C5J A.AAJ 42.3$J BBC.44J
6ess@ Provision for doubtful debts BAA.AAJ BAA.AAJ BAA.AAJ 432.7$J 3AC.3EJ
STOC6 I' T%"DE (//.//? 2/../? )@0.0=? )2>.0.? @>@.0)?
.a and pac"ing material BAA.AAJ B2B.32J BE$.AAJ B47.BCJ 2A4.$BJ
/or" in process BAA.AAJ $B.E7J 337.$2J $B4.A4J 4$C.$$J
Finished goods BAA.AAJ B3E.EAJ B24.7$J 237.2BJ 2$E.57J
STO%ESB S7"%ES "'D LOOSE TOOLS (//.//? (.).*/? )=..*.? )@>.=>? =02.>>?
'tores BAA.AAJ B$C.E3J 275.3AJ E5.3AJ 47E.2AJ
'pares BAA.AAJ 2A5.54J 235.7CJ 333.A2J $A$.$5J
6oose tools BAA.AAJ BB$.73J B5E.7CJ B74.EAJ BEE.52J
DEFE%%ED T"9 "SSETS 1 'ET (//.//? 02.(=? /.//? /.//? /.//?
LO'G TE%M DE7OSITS (//.//? ()>.@0? ()>.@0? ()>.@0? ()>.@0?
Islamabad %lectric 'upply (ompany 6imited BAA.AAJ BAA.AAJ BAA.AAJ BAA.AAJ BAA.AAJ
'ui =orthern 1as Pipelines 6imited BAA.AAJ B55.7$J B55.7$J B55.7$J B55.7$J
LO'G TE%M "D5"'CES 1 Considered 3oods (//.//? (//.//? 2/.//? ././/?
'ui =orthern 1as Pipelines 6imited BAA.AAJ CA.AAJ
6ess@ Amount receivables ithin B2 months shon under current assets BAA.AAJ BAA.AAJ
FI9ED "SSETS 1 Tan3i<&e: (//.//? 2..0/? 2*.=2? 2)...? (0/.)>?
Property, Plant and e>uipment BAA.AAJ CE.4AJ C5.$CJ C2.EEJ B4A.27J
Tota& "ssets (//.//? (/0.@/? (/=..>? (/..@/? )(/.>)?
CU%%E'T LI"BILITIES (//.//? @)=.@0? @=/.0=? @.>.02? *02.*.?
Current portion o! &on3 term !inan4in3: (//.//? *@2.)=? *@0.>.? *@0.>.? *@0.>.?
B77
Sort term <orroCin3s 1 se4ured: (//.//? >*.0)? ()(.0>? ==*.)0?
MarAup a44rued: (//.//? 0)..(0? =00.(*? @*../@? )0).>(?
Trade and oter paya<&es: (//.//? (/(.(2? (0=.0=? (>(.2)? (.(./(?
(reditors BAA.AAJ BAA.7AJ B3A.CBJ B7C.BBJ B$$.47J
Accrued liabilities BAA.AAJ BA4.E2J BAA.A7J BE7.34J 274.$3J
.etention money BAA.AAJ C7.35J BBE.7BJ BBA.7CJ B$3.$2J
'ecurity deposits BAA.AAJ BB3.E2J B$C.BCJ B43.37J B$$.CEJ
Advances from customers BAA.AAJ BE3.47J 24$.A7J 2C3.BBJ B7E.E2J
/or"ersH /elfare fund BAA.AAJ B47.57J
'ales ta& payable? net BAA.AAJ B$A.33J B74.CBJ B$5.B5J A.AAJ
%&cise duty payable BAA.AAJ 5ACE.2EJ B75C5.44J B$7C5.44J CC35A.3$J
0ther liabilities BAA.AAJ 7.2BJ BB.ACJ $C.E7J 44.42J
(ompensated absences BAA.AAJ BA.57J BA.E$J
3nclaimed dividend BAA.AAJ 274.$3J BA7.57J
'O' 1 CU%%E'T LI"BILITIES (//.//? >(.@@? =0../? @@.22? (2..2?
%etention money paya<&es: (//.//?
De!erred taF &ia<i&ity 1 net: (//.//? (0>..)? (*..*(?
De!erred &ia<i&ity (//.//? (().)2? (2.*0? )/.0*? )@.0(?
Lon3 term !inan4in3: (//.//? >/..>? =/./=? )=.02? 2.(@?
!abib +an" 6imited BAA.AAJ 54.2CJ $7.BBJ 2E.C3J
)(+ +an" 6imited BAA.AAJ 54.2CJ $7.BBJ 2E.C3J
3nited +an" 6imited BAA.AAJ 54.2CJ $7.BBJ 2E.C3J
+an" Al Falah 6imited BAA.AAJ 54.2CJ $7.BBJ 2E.C3J
=I+ +an" 6imited BAA.AAJ 5B.$AJ
PI(I( (ommercial +an" 6imited BAA.AAJ 54.2CJ A.AAJ A.AAJ
Fauji Foundation? 3nsecured BAA.AAJ A.AAJ A.AAJ A.AAJ
6ess@ amount payable ithin B2 months shon under current liabilities BAA.AAJ CC.$5J CC.$5J CC.$5J
S,"%E C"7IT"L "'D %ESE%5ES (//.//? ()*.@@? (*2.).? (2).*)? =>..>>?
%eser:es: (//.//? 1=/0.2@?
"44umu&ated &oss (//.//? >>.@*? =/.=@? /.//? /.//?
Sare 4apita&: (//.//? (//.//? (//.//? (//.//? (>*.2/?
Tota& Lia<i&ities M OCnerEs EGuity (//.//? (/0.@/? (/=..>? (/..@/? )(/.>)?
)//= )//0 )//* )//> )//.
CU%%E'T "SSETS 2.>)? (...=? )0.=.? @/.0)? =).0(?
Cas and <anA <a&an4es @.@@? 2.*2? (@.*>? *.*(? @/.@.?
2eposit accounts 2.33J C.AAJ B2.EEJ 5.2CJ 3A.B5J
(urrent accounts A.35J A.$2J A.7CJ A.3BJ A.22J
B7E
(ollection accounts A.54J A.27J A.AAJ A.AAJ A.AAJ
(ash in hand A.AAJ A.AAJ A.AAJ A.AAJ A.AAJ
"d:an4esB DepositsB prepayments and oter re4ei:a<&es: (.)=? /.>=? (.(@? (@.=)? ).>>?
To suppliers A.4EJ A.2CJ A.4BJ B2.7$J A.B2J
To employees A.ABJ A.ABJ A.A3J A.ABJ A.A2J
2ue from associated underta"ing ? unsecured A.A2J A.A2J A.A4J A.AAJ A.AAJ
2eposits A.A2J A.A2J A.A3J A.A3J A.A4J
Prepayments A.BEJ A.A7J A.B5J A.A4J A.A3J
%&cise duty A.B7J A.A4J A.AAJ A.AAJ A.AAJ
Advance ta& ?net A.AAJ A.B3J A.22J A.2AJ A.BCJ
'ales ta& refundable ?net A.A5J A.AAJ A.AAJ A.AAJ A.55J
2erivative foreign currency options used as hedging instrument A.AAJ A.AAJ A.AAJ A.AAJ A.5EJ
Interest accrued A.A$J A.A2J A.ACJ A.AEJ A.B2J
Prepaid arrangement fee for loans A.AAJ A.AAJ A.AAJ A.B7J A.5AJ
)argin on letters of credit A.AAJ A.AAJ A.AAJ A.AAJ A.2$J
0ther receivables? (onsidered goods A.ABJ A.B3J A.A4J A.A3J A.A5J
0thers A.B5J A.AAJ A.AAJ A.BAJ A.ABJ
T%"DE DEBTS /.>*? (.>)? /.=(? /.@(? /.))?
Unse4ured /.=/? /.=/? /.==? /.)0? /./=?
(onsidered goods A.3EJ A.3EJ A.$BJ A.B2J A.AAJ
(onsidered doubtful A.A3J A.A3J A.A3J A.B3J A.A$J
'ecure?considered goods A.3EJ B.34J A.AAJ A.BEJ A.22J
6ess@ Provision for doubtful debts ?A.A3J ?A.A3J ?A.A3J ?A.B3J ?A.A$J
STOC6 I' T%"DE (./=? /.2/? ).@=? )..*? (..0?
.a and pac"ing material A.25J A.3AJ A.$4J A.37J A.24J
/or" in process A.$7J A.BCJ B.4BJ B.EAJ B.22J
Finished goods A.3BJ A.$2J A.3EJ A.5CJ A.37J
STO%ESB S7"%ES "'D LOOSE TOOLS @.@=? 0.>2? >.2)? >.@)? >.)2?
'tores B.22J B.73J 3.2AJ A.C7J 3.3$J
'pares 2.AAJ 3.C3J $.42J 5.B5J 3.E$J
6oose tools A.B2J A.B3J A.2AJ A.2AJ A.BBJ
DEFE%%ED T"9 "SSETS 1 'ET 2.*=? 0.=)? /.//? /.//? /.//?
LO'G TE%M DE7OSITS /.*)? /.>0? /.>0? /.>@? /.@>?
Islamabad %lectric 'upply (ompany 6imited A.37J A.34J A.34J A.3$J A.B7J
'ui =orthern 1as Pipelines 6imited A.24J A.$AJ A.$AJ A.3CJ A.2AJ
LO'G TE%M "D5"'CES 1 Considered 3oods /.//? /.(=? /.(0? /.(@? /./*?
'ui =orthern 1as Pipelines 6imited A.AAJ A.AAJ A.AAJ A.B$J A.A7J
6ess@ Amount receivables ithin B2 months shon under current assets A.AAJ A.AAJ A.AAJ ?A.ABJ ?A.ABJ
FI9ED "SSETS 1 Tan3i<&e: ././)? >=..0? >@.*)? *..*)? 0>./*?
Property, Plant and e>uipment EA.A2J 7$.E4J 73.52J 5E.52J 47.A5J
Tota& "ssets
(//.//
?
(//.//
?
(//.//
?
(//.//
? (//.//?
CU%%E'T LI"BILITIES *.@/? (2.@2? )/.==? )).0@? (2.>(?
Current portion o! &on3 term !inan4in3: (.=*? ...2? ...>? ..02? =.=)?
Sort term <orroCin3s 1 se4ured: /.//? =.2*? @..(? 0..>? ((./>?
MarAup a44rued: /.))? (.((? /.2*? /.>*? /.)>?
B7C
Trade and oter paya<&es: =.*(? =.=@? *.>2? >.@)? @.2*?
(reditors A.77J A.7$J A.C5J B.2EJ A.43J
Accrued liabilities B.A7J B.AEJ B.A2J B.E5J B.$AJ
.etention money A.BEJ A.B7J A.2BJ A.BCJ A.B2J
'ecurity deposits A.$3J A.$7J A.5BJ A.5BJ A.3AJ
Advances from customers A.3CJ A.5EJ A.C4J B.A5J A.33J
/or"ersH ,Profit- Participation Fund A.AAJ A.5$J B.4BJ A.54J A.2AJ
/or"ersH /elfare fund A.AAJ A.AAJ A.AAJ A.24J A.2AJ
'ales ta& payable? net A.3EJ A.4AJ A.53J A.4BJ A.AAJ
%&cise duty payable A.AAJ A.A5J A.B7J A.B3J A.$5J
0ther liabilities B.3EJ A.ACJ A.B4J A.5$J A.35J
(ompensated absences A.AAJ A.AAJ A.44J A.A5J A.A3J
3nclaimed dividend A.AAJ A.AAJ A.A3J A.ACJ A.A2J
'O' 1 CU%%E'T LI"BILITIES */..2? =(.)0? )*.02? (2.((? 0.>0?
%etention money paya<&es: /.//? /.//? /.//? /.//? /.(0?
De!erred taF &ia<i&ity 1 net: /.//? /.//? @.=>? 0.@(? ).2)?
De!erred &ia<i&ity /.*.? /.>@? /.(@? /.(@? /./.?
Lon3 term !inan4in3: */.)(? =/.0)? )).22? (@.*>? ).*(?
!abib +an" 6imited A.AAJ B$.73J C.55J 5.74J 2.B3J
)(+ +an" 6imited A.AAJ B$.73J C.55J 5.74J 2.B3J
3nited +an" 6imited A.AAJ 7.35J $.E3J 3.37J B.A5J
+an" Al Falah 6imited A.AAJ 7.35J $.E3J 3.37J B.A5J
=I+ +an" 6imited A.AAJ A.AAJ A.AAJ 2.A2J A.5$J
PI(I( (ommercial +an" 6imited A.AAJ $.$2J 2.CAJ A.AAJ A.AAJ
Fauji Foundation? 3nsecured A.AAJ A.EAJ A.AAJ A.AAJ A.AAJ
6ess@ amount payable ithin B2 months shon under current liabilities A.AAJ ?E.ECJ ?E.E7J ?E.4CJ ?$.$2J
S,"%E C"7IT"L "'D %ESE%5ES @)..(? @2.@*? 0).2*? 0..@*? >=.0=?
%eser:es: /.//? /.//? /.//? 1>.(>? (=.2>?
"44umu&ated &oss 1@..(*? 1)../@? 1(=.>(? /.//? /.//?
Sare 4apita&: >/.2>? *>.@2? *>.*>? *0.0@? 02.0.?
Tota& Lia<i&ities M OCnerEs EGuity
(//.//
?
(//.//
?
(//.//
?
(//.//
? (//.//?
)//= )//0 )//* )//> )//.
'ales BAA.AAJ B2A.75J B74.A2J B$7.2AJ B$5.24J
6ess@ 1overnment 6evies BAA.AAJ BB3.B5J B$5.C3J B3E.$5J B25.43J
BEA
'et Sa&es
(//.//
? ()@.2/? (.*.**? (0/..)? (0=.=)?
Cost o! sa&es
(//.//
? ((@.@.? (@=.*2? (0).=2? (.0.**?
.a material (onsumed BAA.AAJ BBE.EAJ B7E.55J 2A$.3CJ BC7.$7J
Pac"ing material consumed BAA.AAJ C4.BEJ BB7.5BJ B$2.2BJ BEB.3BJ
'tores and spares consumed BAA.AAJ B2$.37J BB$.4BJ 2BB.37J 2A5.4BJ
'pares ritten off BAA.AAJ 4.A2J A.AAJ
'alaries, ages and benefits BAA.AAJ C4.$AJ B44.53J B$5.44J B$5.BCJ
.ent, rates and ta&es BAA.AAJ B$$.74J 25C.B2J 232.$5J 444.A$J
Insurance BAA.AAJ B2B.B7J E4.A4J E2.E5J EB.CBJ
Fuel consumed BAA.AAJ B23.C4J B$C.$7J B73.$BJ 244.3CJ
Poer consumed BAA.AAJ BA7.2BJ B27.ABJ B3C.2BJ B$4.5AJ
2epreciation BAA.AAJ BA3.57J BA7.52J BB3.54J BBC.4BJ
0thers BAA.AAJ BB$.EAJ B54.C5J B7$.$7J B34.5EJ
BAA.AAJ BB2.BCJ B3C.A4J B4$.35J BEE.A3J
Add@ 0pening or"?in?process BAA.AAJ $77.2$J BCC.E3J B5BA.3AJ BCEA.75J
6ess@ (losing or"?in?process BAA.AAJ $B.E7J 337.$2J $B4.A4J 4$C.$$J
Cost o! 3oods manu!a4tured
(//.//
? ((=..=? (@0.>/? (00.(*? (...)2?
Add@ 0pening finished goods BAA.AAJ 4E.BEJ EA.74J 73.B5J B3E.ABJ
6ess@ (losing finished goods BAA.AAJ B3E.EAJ B24.74J 237.2BJ 2$E.57J
BAA.AAJ BB3.3EJ B3$.5CJ B42.$CJ BE5.43J
6ess@ 0n consumption capitali<ed BAA.AAJ
BAA.AAJ BB3.3EJ B3$.5CJ B42.$CJ BE4.55J
Gross pro!it
(//.//
? (=*.//? )20.>>? (=>.@=? ....=?
Oter in4ome
(//.//
? )*.)=? (/(.@0? (>).>=? )0(.*>?
Distri<ution 4ost:
(//.//
? (/=.=2? (00.)=? (22./.? )*(.=.?
'alaries, ages and benefits BAA.AAJ C2.2CJ B7E.A7J B7B.C3J B45.$4J
%&port freight and other charges BAA.AAJ
Traveling and entertainment BAA.AAJ B7C.4CJ B$3.CBJ 5E.BEJ BAE.CCJ
*ehicle running and maintenance e&penses BAA.AAJ 4C.7EJ
.ent, rates and ta&es BAA.AAJ BA2.$4J C7.2AJ BBE.27J B2E.32J
.epairs and maintenance BAA.AAJ 2B2.B7J B42.A7J $2.ACJ 7A.A7J
Printing and stationery BAA.AAJ B24.7$J 7C.B7J EB.73J BA7.A7J
2epreciation BAA.AAJ C3.CEJ B3E.57J 223.45J 3$5.22J
0thers BAA.AAJ BAC.EEJ B23.52J 2E$.A4J 4B.53J
"dministrati:e eFpenses:
(//.//
? (/*.2>? (*..0@? (./.@0? (2@.=2?
'alaries, ages and benefits BAA.AAJ BAA.AEJ B53.$5J BC$.42J BEE.53J
Traveling and entertainment BAA.AAJ B5B.57J 232.2CJ B5C.E4J 35$.$CJ
BEB
*ehicle running and maintenance e&penses BAA.AAJ EC.C$J
Insurance BAA.AAJ BB$.BAJ B7A.4BJ BCA.3EJ BC2.C4J
.ent, rates and ta&es BAA.AAJ BB7.$EJ $A$.32J 447.7BJ 5A7.5BJ
.epairs and maintenance BAA.AAJ B45.B2J 32$.A4J B34.A2J E2.CEJ
Printing and stationery BAA.AAJ BAB.$AJ B7A.CBJ 225.74J B43.C7J
2epreciation BAA.AAJ BEB.2BJ BC7.2BJ 277.4AJ $EB.2BJ
0thers BAA.AAJ C2.E7J B27.4BJ 74.3BJ 57.44J
Oter Operatin3 eFpenses:
(//.//
?
>02>.(2
?
(>*02..0
?
(/2//.(2
? *=@@.=/?
AuditsH remuneration BAA.AAJ BA2.A5J BA5.AAJ CC.$$J BB2.47J
/or"ersH /elfare Fund BAA.AAJ 47.57J
Finan4e Cost:
(//.//
? (().==? ()2.=)? (/(.=(? >(.2*?
Fee and charges on loans BAA.AAJ CA.C4J $.3AJ $.3AJ $.3AJ
Interest9mar"?up on long term finance BAA.AAJ 3A5.54J $$3.B4J 34A.ABJ 225.55J
Interest9mar"?up on long term loan from related
party BAA.AAJ 35$.E3J 42.23J A.AAJ A.AAJ
Interest on short term borroings and other
charges BAA.AAJ 24.B5J B7.CAJ 255.74J
Interest on /or"ersH Profit Participation Fund BAA.AAJ 3.B3J A.AAJ
1uarantee commission BAA.AAJ 2E.75J A.$3J A.E7J A.4CJ
+an" charges and commission BAA.AAJ 77.E$J BA$.$4J CA.3CJ C3.3BJ
Foreign e&change ris" insurance,F%.I- contract BAA.AAJ A.AAJ A.AAJ A.AAJ A.AAJ
"morti#ation o! de!erred 4ost
(//.//
? /.//? /.//? /.//? /.//?
(//.//
? 1@((.22? 1>@/.*2? 1@)@.2>? 1(.*..=?
6ess@ Ta&ation BAA.AAJ ?$$.4CJ ?BA2.C5J ?24.$4J ?7.34J
(//.//
? (*).0/? @.@.(>? )/0.>=? (@(.**?
BE2
)//= )//0 )//* )//> )//.
'ales
BAA.AA
J
BAA.AA
J
BAA.AA
J
BAA.AA
J BAA.AAJ
6ess@ 1overnment 6evies ?2C.2CJ ?27.$4J ?2$.4CJ ?27.44J ?24.3$J
'et Sa&es >/.>(? >).00? >0.=(? >).=0? >=.**?
Less: Cost o! sa&es =>.2/? ==.2>? @*..*? =2.*)? */..(?
.a material (onsumed 3.44J 3.$CJ 3.52J $.C2J $.7CJ
Pac"ing material consumed $.7CJ 3.77J 3.22J $.53J 4.C$J
'tores and spares consumed A.B5J A.B7J A.BBJ A.23J A.23J
'pares ritten off A.AAJ A.AAJ A.33J A.A2J A.AAJ
'alaries, ages and benefits 2.EBJ 2.22J 2.4AJ 2.EAJ 2.EBJ
.ent, rates and ta&es A.A3J A.A$J A.A4J A.A4J A.BBJ
Insurance A.$5J A.$5J A.22J A.25J A.25J
Fuel consumed B7.3CJ B7.E4J B$.E4J 2A.$EJ 3A.35J
Poer consumed C.44J E.$EJ 5.C3J C.A3J C.4BJ
2epreciation 7.$EJ 5.$3J $.5AJ 4.7EJ 5.B2J
0thers B.C4J B.E4J B.E$J 2.3BJ B.EBJ
$E.B5J $$.74J 3E.25J 4A.4AJ 5B.C2J
Add@ 0pening or"?in?process A.BEJ A.7BJ A.2AJ B.C5J 2.$3J
6ess@ (losing or"?in?process ?A.E4J ?A.3AJ ?B.54J ?2.$BJ ?3.2BJ
Cost o! 3oods manu!a4tured =>.=2? =0.(*? @*..)? 0/./0? *(.(=?
Add@ 0pening finished goods A.CCJ A.$7J A.$4J A.$CJ A.C3J
6ess@ (losing finished goods ?A.47J ?A.55J ?A.$BJ ?A.C2J ?A.C7J
$7.CAJ $$.C7J 35.E5J $C.52J 5B.ACJ
6ess@ 0n consumption capitali<ed A.AAJ A.AAJ A.AAJ A.AAJ ?A.2EJ
$7.CAJ $$.C7J 35.E5J $C.52J 5A.EBJ
Gross pro!it ))..(? )>.0.? @..00? ))..@? (@..*?
Oter in4ome (.@)? /.)2? /.>*? (.0=? ).)>?
Distri<ution 4ost: /.*@? /.0=? /.0*? /..0? (.()?
'alaries, ages and benefits A.37J A.2EJ A.3EJ A.$3J A.$AJ
%&port freight and other charges A.AAJ A.AAJ A.AAJ A.AAJ A.42J
Traveling and entertainment A.A3J A.A4J A.A3J A.ABJ A.A2J
*ehicle running and maintenance e&penses A.AAJ A.AAJ A.AAJ A.A5J A.A3J
.ent, rates and ta&es A.A$J A.A3J A.A2J A.A3J A.A3J
.epairs and maintenance A.ABJ A.A2J A.ABJ A.AAJ A.ABJ
Printing and stationery A.A2J A.A2J A.ABJ A.ABJ A.ABJ
BE3
2epreciation A.A2J A.A2J A.A2J A.A$J A.A5J
0thers A.B$J A.B3J A.BAJ A.27J A.A4J
"dministrati:e eFpenses: B.22J B.AEJ B.B7J B.$CJ B.5BJ
'alaries, ages and benefits A.57J A.45J A.53J A.ECJ A.E7J
Traveling and entertainment A.A5J A.AEJ A.AEJ A.A7J A.B5J
*ehicle running and maintenance e&penses A.AAJ A.AAJ A.AAJ A.A4J A.A4J
Insurance A.ABJ A.ABJ A.ABJ A.ABJ A.ABJ
.ent, rates and ta&es A.A3J A.A3J A.AEJ A.B2J A.B$J
.epairs and maintenance A.A2J A.A3J A.A$J A.A2J A.ABJ
Printing and stationery A.A3J A.A2J A.A3J A.A$J A.A3J
2epreciation A.A5J A.ACJ A.A7J A.BBJ A.2AJ
0thers A.33J A.24J A.2$J A.B7J A.B4J
Oter Operatin3 eFpenses: A.A2J B.A3J B.55J B.22J A.72J
AuditsH remuneration A.A2J A.ABJ A.ABJ A.ABJ A.ABJ
/or"ersH ,Profit- Participation Fund A.AAJ B.A2J B.54J A.E7J A.4BJ
/or"ersH /elfare Fund A.AAJ A.AAJ A.AAJ A.3$J A.2AJ
Finan4e Cost: 5.2CJ 4.E5J $.54J $.33J 3.ACJ
Fee and charges on loans A.35J A.27J A.ABJ A.ABJ A.ABJ
Interest9mar"?up on long term finance B.77J $.$EJ $.$7J $.2AJ 2.7$J
Interest9mar"?up on long term loan from related
party A.A3J A.AEJ A.ABJ A.AAJ A.AAJ
Interest on short term borroings and other charges A.AAJ A.BBJ A.A2J A.A2J A.2$J
Interest on /or"ersH Profit Participation Fund A.AAJ A.AAJ A.A4J A.AAJ A.AAJ
1uarantee commission 3.$4J A.E2J A.ABJ A.A2J A.ABJ
+an" charges and commission A.B$J A.ACJ A.AEJ A.ACJ A.ACJ
Foreign e&change ris" insurance,F%.I- contract A.44J A.AAJ A.AAJ A.AAJ A.AAJ
"morti#ation o! de!erred 4ost )@.=>? /.//? /.//? /.//? /.//?
'et pro!it <e!ore taFation ?7.$CJ BC.35J 3B.2EJ B5.$CJ C.47J
6ess@ Ta&ation B7.B7J ?5.3$J ?BA.BAJ ?2.C7J ?A.E5J
'et pro!it a!ter taFation C.57J B3.A2J 2B.BEJ B3.42J E.7BJ
BE$
%atio "na&ysis
)//= )//0 )//* )//> )//.
'et 8orAin3 Capita& 2A23$$ ?3$BEB 3B2BE$ 4BB2$A 2E3C322
Current %atio B.4$ A.C7 B.24 B.34 2.B5
"4id %atio B.3E A.C3 B.B3 B.23 2.A5
Cas %atio A.43 A.4A A.57 A.2C B.4$
De<tHEGuity %atio 3.A4 2.4$ B.EC B.7B B.3$
De<t to tan3i<&e net Cort 3.A4 2.4$ B.EC B.7B B.3$
DayEs Sa&es in a44ount re4ei:a<&e
7.BBC$E523
5
B3.745437A
2
2.B5C$A534
B
2.A5B2$352
3 2.77B74A3BC
"44ount %e4ei:a<&e Turn O:er
4B.2577$$3
B
25.432E$A3
2
B5E.2$E7C2
C
B77.A7745$
2 B3B.5E47$2C
DayEs sa&es in in:entory
B$.$443EA$
C
BB.474E54E
$
24.277EE$2
4
2E.2ACE4A4
$ 2C.AEBC224B
In:entory turno:er
5B.$53C5BB
2
7C.3$3$45B
5
E4.AE$B$EC
7
7A.2AE53BE
2 53.E45554E5
'et pro!it mar3in B3.5EJ B7.C$J 2E.AEJ BE.55J BB.55J
Tota& asset turno:er A.3C A.$5 A.5C A.4$ A.2E
%eturn on asset 4.32J E.2AJ BC.$2J BA.BAJ 3.32J
Operatin3 in4ome mar3in B.7AJ 3$.74J $7.5$J 2E.7$J B5.C5J
%eturn on Sa&es to !iFed assets
A.$E443757
7
A.5BA772BC
2
A.C3C3AAEC
$
A.7EE$527A
3 A.$CEC4CA55
%eturn on tota& eGuity B5.2AJ 2A.E$J 35.57J B7.3AJ $.$4J
Gross pro!it mar3in 32.25J 3E.ABJ 4B.B2J 3B.42J BE.45J
De3ree o! !inan4ia& &e:era3e A.2A A.5E A.45 A.7A
Earnin3 per 4ommon sare A.E4 B.3E 3.24 B.73 A.E4
7ri4eHearnin3 ratio BE.EC BA.$E 5.74 B3.B7 2A.CB
BE4
BE5
BE7
BEE

Fauji Cement by Azzam Jafar

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Fauji Cement by Azzam Jafar

Uploaded by

Copyright:

Available Formats

Fauji Cement Company Limited

Fauji Cement Company Limited

Fauji Cement Company Limited

You might also like