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Balance Sheet as at September 30, 2007

Note 2007 2006


(Rupees in thousands)
Assets
Non-Current Assets
Fixed assets
Property, plant and equipment 3 680,445 618,039
Long-term investments 4 801,364 614,725
Long-term loans 5 5,050 6,210
Long-term deposits 2,903 2,564

Current Assets
Stores and spares 6 67,974 70,004
Stock-in-trade 7 390,494 419,296
Trade debts 8 202,887 175,255
Loans and advances 9 126,022 92,639
Trade deposits and short-term prepayments 10 7,569 6,556
Profit accrued on bank deposits 8,170 2,127
Other receivables 11 8,027 7,019
Cash and bank balances 12 638,531 381,272
1,449,674 1,154,168
Total Assets 2,939,436 2,395,706

Equity and Liabilities


Share Capital and Reserves
Share Capital
Authorised
80,000,000 (2006: 80,000,000) ordinary shares of Rs. 5 each 400,000 400,000

Issued, subscribed and paid-up capital 13 288,000 216,000


Reserves 14 952,743 851,730
Unrealised gain on long-term investments
available for sale 738,929 495,337
1,691,672 1,347,067
1,979,672 1,563,067
Non-Current Liabilities
Deferred taxation 15 66,500 74,000
Current Liabilities
Short-term borrowings 16 488,190 337,000
Trade and other payables 17 393,259 379,025
Accrued mark-up on short-term borrowings 18 4,565 8,581
Provision for income tax - net 19 7,250 34,033
893,264 758,639
Contingencies and Commitments 20

Total Equity and Liabilities 2,939,436 2,395,706

The annexed notes 1 to 38 form an integral part of these financial statements.

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Murtaza H. Habib
Director

Raeesul Hasan
Chief Executive