FINANCIAL REPORTS

31-Dec
2015
EQUITY AND LIABILITY RUPEES

share capital and reserves

authorized capital 700,000,000
700000000 ordinary share of 10 each

issued,suscribed and paid up capital

31363200 ordinary share of 10 each 313632000
share premium -
accumulated loss -538082120
-224450120

surplus on revaluation of
property plant and eqip-net 457615326

non-current liabilities
long term finances -
liabilities against assets subject to finance lease 59827955
Employee benfits 10629419
70457374

current liabilities

short term borrowing 1125089693

current portion of long term liabilities 13643700
trade & other payables 437405875
accured finance cost 28971814
1605111082
contigencies and commitment
1908733662

31-Dec
Assets 2015
rupees
Non-current assets

property,plant & equip. 1277997628

intangible assets 616216
security deposits 1032686
deferred taxation-net 76384766
 1356031296

Current assets

stores spares & loose tools 38716297

stock in trade 174625644
trade debts. 37729967
loans & advances 21528308
deposits,repayments & other receivables 10460090
due from associate companies 2025419
sales tax refundable-net 155860557
income tax-net 58795819
cash & bank balance 52960265
2108972985
3465004281
INCOME STATEMENT
FOR THE LAST THREE YEARS ENDED 31 DECEMBER 2015,2016,2017

31-Dec
2015
Rupees

Net sales 689044680

cost of sales -690303830
gross profit/loss -1259150
marketing and distribution expense -66009876
administrative expenses -60571439
other income 2790857
other expenses -11070949
loss from operations -136120557
finance cost -40810558
loss before taxation -176931115
taxation 70857685
loss per share-basic and/diluted -3.38
loss after taxation for the year -106073430
other comprehensive income
items that will not be reclassified to profit and loss accounts
remeasurement of defined benefit obligations
surplus on revaluation of property plant and equip-net

total comprehensive income for the year -106073430

 CASH FLOW STATEMENT

cash flow from operating activities 1st july to 31

loss before taxaxtion -176931115

adjustment for non-cash items:
depriciation on property plant eqip. 39066522
amortization of intangible assets 330577
loss/gain on disposal of property plant and equip. 2125468
prior year sales tax -
provision for doubtful debts -
provision for obsolete stock -
profit on bank deposits -404683
provision for old stuck-up refunds of sales tax -
liabilities no longer payable written back -2104698
exchange loss 4728523
provision for doubtful loans and advances 2939659
employee benefits-accumulated compensated absensee 1448996
finance cost 40810558
LOSS BEFORE WORKING CAPITAL CHANGES -87990193

Effect on cash flow due to working capital changes

increase/decrease in current assets:

stores,spares and loose tools -6073183
stock-in-trade -16499359
trade debts 895896
loans and advances -17229182
deposits,prepayments and other receivables 5586255
due from associated companies -306934
sales tax refundable -50249546
increase/decrease in trade and other payables 17835465
-66040588
CASH USED IN OPERATIONS -154030781

income tax paid -18175787

employee benefits paid -864449
security deposits-net 54000
NET CASH USED IN OPERATING ACTIVITIES -173017017

CASH FLOW FROM INVESTING ACTIVITIES

fixed capital expenditure -280503588

 sale proceeds from disposal of property plant & equip -907660
income on bank deposits received 404683
NET CASH USED IN INVESTING ACTIVITIES -281006565

SACH FLOW FROM FINANCING ACTIVITIES

Share capital issued -

term finances-net -44285685
islamic finance-net -
loans from chief executive and and a director-net -
liabilities against assets subject to finance lease-net 67868222
short term burrowings-net 373775654
finance cost paid -31429451
dividend paid -1499
NET CASH GENERATED FROM FINANCING ACTIVIIES 365927241

NET DECREASE IN CASH AND CASH EQUIVALENTS -88096341

CASH AND CASH EQUIVALENTS-AT BEGINNING OF PERIOD 141056606
CASH AND CASH EQUIVALENT-AT END OF THE PERIOD 52960265

RATIO ANALYSIS

2015 2016 2017

T.A.T= 0.36 0.44 0.59
F.A.T= 0.54 0.68 1.03
INV. TURNOVER= 4 TIMES 8 TIMES 8 TIMES
CURRENT RATIO= 0.34 0.399701515 1.70211112
ACID TEST RATIO= 0.21 0.25 1.223
R.O.E= -47.26 -53.68 -65.63
OPERATING CYCLE= -47 -34 2
WORKING CAPITAL= -1.605E+09 -3167396771 1652213894
 Vertical Analysis horizontal analysis
31-Dec 31-Dec
2016 2017
rupees Rupees

7,000,000,000 7,000,000,000 20.2% 91.1% 58.8% 100.0% 900.0%

100.0%
100.0%
100.0%
1321017980 5284071920 9.1% 17.2% 44.4% 100.0% 321.2%
1966772143 1925340907 25.6% 16.2% 100.0%
-1486605671 -3722990539 -15.5% -19.4% -31.3% 100.0% 176.3%
1801184452 3486422288 -6.5% 23.5% 29.3% 100.0% -902.5%
0.0% 0.0% 0.0% 100.0%
0.0% 0.0% 0.0% 100.0%
440355621 1458968052 13.2% 5.7% 12.3% 100.0% -3.8%
0.0% 0.0% 0.0% 100.0%
0.0% 0.0% 0.0% 100.0%
4450000000 0.0% 37.4% 100.0%
129919028 103054926 1.7% 1.7% 0.9% 100.0% 117.2%
32822224 55612612 0.3% 0.4% 0.5% 100.0% 208.8%
162741252 4608667538 2.0% 2.1% 38.7% 100.0% 131.0%
0.0% 0.0% 0.0% 100.0%
0.0% 0.0% 0.0% 100.0%
0.0% 0.0% 0.0% 100.0%
3899251334 1449501368 32.5% 50.8% 12.2% 100.0% 246.6%
36097751 38582834 0.4% 0.5% 0.3% 100.0% 164.6%
1291303709 791751290 12.6% 16.8% 6.6% 100.0% 195.2%
49716962 73373064 0.8% 0.6% 0.6% 100.0% 71.6%
5276369756 2353208556 46.3% 68.7% 19.8% 100.0% 228.7%
0.0% 0.0% 0.0% 100.0%
7680651081 11907266434 55.1% 100.0% 100.0% 100.0% 302.4%
0.0% 0.0% 0.0% 100.0%
0.0% 0.0% 0.0% 100.0%
31-Dec 31-Dec 0.0% 0.0% 0.0% 100.0% 0.0%
2016 2017 0.0% 0.0% 0.0% 100.0% 0.0%
rupees rupees 100.0% #VALUE!
0.0% 0.0% 0.0% 100.0% #DIV/0!
0.0% 0.0% 0.0% 100.0% #DIV/0!
4937750901 6822273698 36.9% 64.3% 57.3% 100.0% 286.4%
4441250 17378388 0.0% 0.1% 0.1% 100.0% 620.7%
944306 944306 0.0% 0.0% 0.0% 100.0% -8.6%
628541639 1061247592 2.2% 8.2% 8.9% 100.0% 722.9%
 5571678096 7901843984 39.1% 72.5% 66.4% 100.0% 310.9%
0.0% 0.0% 0.0% 100.0% #DIV/0!
0.0% 0.0% 0.0% 100.0% #DIV/0!
0.0% 0.0% 0.0% 100.0% #DIV/0!
0.0% 0.0% 0.0% 100.0% #DIV/0!
93931361 107134205 1.1% 1.2% 0.9% 100.0% 142.6%
684805793 1021155966 5.0% 8.9% 8.6% 100.0% 292.2%
77969418 129704758 1.1% 1.0% 1.1% 100.0% 106.7%
48480455 75943368 0.6% 0.6% 0.6% 100.0% 125.2%
141347588 489877664 0.3% 1.8% 4.1% 100.0% 1251.3%
39247 1093586 0.1% 0.0% 0.0% 100.0% -98.1%
475950146 484343381 4.5% 6.2% 4.1% 100.0% 205.4%
252909058 500867832 1.7% 3.3% 4.2% 100.0% 330.1%
333539919 1195301690 1.5% 4.3% 10.0% 100.0% 529.8%
2108972985 4005422450 60.9% 27.5% 33.6% 100.0% 0.0%
7680651081 11907266434 100.0% 100.0% 100.0% 100.0% 121.7%

DECEMBER 2015,2016,2017

31-Dec 31-Dec vertical analysis horizontal analysis

2016 2017
Rupees Rupees

3370506772 7000955306 100.0% 100.0% 100.0% 100.0% 389.2%

-3265001110 -6813735099 -100.2% -96.9% -97.3% 100.0% 373.0%
105505662 187220207 -0.2% 3.1% 2.7% 100.0% -8479.1%
-1216258245 -2335148674 -9.6% -36.1% -33.4% 100.0% 1742.5%
-257212245 -410907504 -8.8% -7.6% -5.9% 100.0% 324.6%
28917826 37157677 0.4% 0.9% 0.5% 100.0% 936.2%
-27956611 -59467972 -1.6% -0.8% -0.8% 100.0% 152.5%
-1367003613 2581146266 -19.8% -40.6% 36.9% 100.0% 904.3%
-150936517 -435139468 -5.9% -4.5% -6.2% 100.0% 269.8%
-1517940130 -3016285734 -25.7% -45.0% -43.1% 100.0% 757.9%
551020316 728023875 10.3% 16.3% 10.4% 100.0% 677.6%
-5.94 -9.22 0.0% 0.0% 0.0% 100.0% 75.7%
-966919814 -2288261859 -15.4% -28.7% -32.7% 100.0% 811.6%
0.0% 0.0% 0.0% 100.0% #DIV/0!
0.0% 0.0% 0.0% 100.0% #DIV/0!
- 626647 0.0% 0.0% 100.0% #VALUE!
- 0.0% 0.0% 100.0% #DIV/0!
0.0% 0.0% 0.0% 100.0% #DIV/0!
-966919814 -2287635212 -15.4% -28.7% -32.7% 100.0% 811.6%
 31-Dec-16 31-Dec-17

-1517940130 -3016285734

192698513 538749313
616216 2040639
-4927092 -1875883
-
9000000 3777210
18568979 -
-7657883 -7820518
-
- -4666100
28992565
- -
22952570 28370511
150936517 398345529
-1135752310 -2030372468

-73784042 -13202844
-510180149 -336350173
-49239451 -55512550
-26952147 -27462913
-118555498 -348530076
1986172 -1054339
-320089589 -8393235
853897834 -523875959
-242916870 -1314382089
-1378669180 -3344754557

-194113239 -247958774
-759765 -4953476
88380 -
-1573453804 -3597666807

-3952022173 -1064111202
 81944747 5705995
7657883 7820518
-3862419543 -1050584689

2974158123 3921622704
- 4450000000
- -
- -
92545124 -37167119
1250439755 -1800439755
-112079887 -374689427
- -2925
4205063115 6159323478

-1230810232 1511071982
-534461428 -1765271660
-1765271660 -254199678
 0.0%

300.0%
-2.1%
150.4%
93.6%

231.3%

-20.7%
69.4%
2731.9%

-62.8%
6.9%
-38.7%
47.6%
-55.4%

55.0%

0.0%
0.0%
#VALUE!
#DIV/0!
#DIV/0!
38.2%
291.3%
0.0%
68.8%
 41.8%
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
14.1%
49.1%
66.4%
56.6%
246.6%
2686.4%
1.8%
98.0%
258.4%
89.9%
55.0%

107.7%
108.7%
77.5%
92.0%
59.8%
28.5%
112.7%
-288.8%
188.3%
98.7%
32.1%
55.2%
136.7%
#DIV/0!
#DIV/0!
#VALUE!
#VALUE!
#DIV/0!
136.6%