REDCO TEXTILES LIMITED

BALANCE SHEET

ASSETS
NON-CURRENT ASSETS

Property, plant and equipment

Lonng term investment
Long term deposits

CURRENT ASSETS

Stores, spare parts and loose tools

Stock-in-trade
Trade debts
Loans and advances
Trade deposits and short term prepayments
Tax refunds due from Government
Cash and bank balances

TOTAL ASSETS

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Authorized capital
50,000,000 (June 30, 2019: 50,000,000) ordinary shares of Rs.10 each

Issued, subscribed and paid up capital

Surplus on revaluation of property plant and equipment - Net of tax
Equity portion of Director's loan
Reserves
Other reserves
Accumulated loss

NON-CURRENT LIABILITIES
Long term financing from banking companies
Long term financing from associates undertakings - unsecured
Long term financing from directors and others - unsecured
Deferred liabilities

CURRENT LIABILITIES
Trade and other payables
Accrued mark up / interest
Short term borrowings from associated undertakings
Short term borrowings from directors and others
Current portion of :
Liabilities against assets subject to financial lease
Long term financing from banking companies

TOTAL LIABILITIES

CONTINGENCIES AND COMMITMENTS

TOTAL EQUITY AND LIABILITIES

 2020 2010
Rupees Rupees

950,027,697 869,167,129
54,500 70,845
5,819,879 5,614,840
955,902,076 874,852,814

40,975,058 24,544,263
56,750,802 210,643,355
80,061,995 150,352,612
31,329,269 46,755,776
23,090 492,288
69,926,593 41,728,201
33,403,224 4,253,954
312,470,031 478,770,449

1,268,372,107 1,353,623,263

500,000,000 500,000,000

492,926,000 492,926,000
302,994,679 203,426,881
73,199,501
15,771
(575)
(796,182,734) (153,833,133)
72,936,871 542,535,519
 12,049,084
429,233,891
149,947,099
11,940,058 34,024,644
23,989,142 613,205,634

186,110,960 112,513,170
1,539 3,097,054
709,801,952 77,946,468
269,375,038 -

- 4,325,418
6,156,605 -
1,171,446,094 197,882,110

1,195,435,236 811,087,744

1,268,372,107 1,353,623,263
Group Number Company Name Sales RevenueCurrent Ratio (Times) Quick Ratio (Times)
12 Redco Textiles Limited 355,475,707 0.27 0.22

Company Name Sales Revenue (PKR) Current Ratio Quick Ratio (Times) Debt Ratio (Times)
Hala Enterprise Ltd 346,416,594 1.36 0.86 0.44
Redco Textiles Limited 355,475,707 0.27 0.22 0.79
Trimmean 12,820,429,192 1.08 0.54 0.48

Current Ratio (Times) Quick Ratio (Times) Debt-to-equityTimes Interest Earned Debt Ratio (Times)
1.36 0.86 1.001 1.43 0.44
0.27 0.22 13.67 201.5 0.79
1.08 0.54 2.29 2.10 0.48
 DSI (Days)
Debt Ratio (Times) Debt-to-equMarket DebtTimes InterLiabilities- Inventory TReceivables
0.79 13.67 0.71 201.5 0.94 9.1 4.12 40

Debt-to-equity RatioMarket DebtTimes InterLiabilities- Inventory TReceivables

DSI (Days) DSO (Days)
1.001 0.58 1.43 0.43 3.22 7.23 113 50
13.67 0.71 201.5 0.94 9.1 4.12 40 89
2.29 0.66 2.10 0.62 3.45 8.51 124.98 61.59

Debt-to-equity RatioMarket DebtReceivables

DSI (Days) Payable T/ODPO (Days) Cash ConverAsset T/O (
1.001 0.58 7.23 113 7.36 49 114 0.85
13.67 0.71 4.12 40 0.55 662 -533 0.28
2.29 0.66 8.51 124.98 6.97 76.07 99.00 0.82
DSO (DaysOperating Payable T/DPO (DaysCash ConvAsset T/O Gross ProfOperating Net Profit
89 129 0.55 662 -533 0.28 14.47% 7.22% 5.89%

Operating CPayable T/ODPO (Days) Cash ConverAsset T/O ( Gross Profi Operating PNet Profit Raw ROA (P
164 7.36 49 114 0.85 20% 4% 3.71% 1.84%
129 0.55 662 -533 0.28 14% 7% 5.89% 0.39%
183.05 6.97 76.07 99.00 0.82 13% 7% 2% 3%

ROCE (PerceBook Value/Market value/book value (Times)

7.20% 11.12 0.899
35.20% 1.46 5.48
0.04 61.12 2.82
Raw ROA R
( OCE (PerBook ValuMarket valP/E Ratio (Times)
0.39% 35.20% 1.46 5.48 18.82

ROCE (PerceBook Value/Market valuP/E Ratio (Times)

7.20% 11.12 0.899 11.23
35.20% 1.46 5.48 18.82
0.04 61.12 2.82 28.76
 REDCO TEXTILES LIMITED
PROFIT AND LOSS ACCOUNT

Sales
Cost of sales
Gross Profit / (loss)

Distribution cost
Administrative expenses
Other operating expenses

Operating Profit / (loss)

Other income

Finance cost
Profit / (Loss) before taxation
Taxation
Profit / (Loss) for the year

Earnings per share - basic and diluted

RUPEES
2020 2010
355,475,707 1,469,939,814
304,036,613 1,410,332,994
51,439,094 59,606,820

281,093 4,096,719
16,861,081 11,621,366
8,693,711 20,421,746
25,835,885 36,139,831

25,603,209 23,466,989
72,788 500,865
25,675,997 23,967,854
127,424 18,920,284
25,548,573 5,047,571
4,595,772 2,110,441
20,952,801 7,158,012

0.425 0.1452
Horizontal Analysis
2020
BALANCE SHEET ANALYSIS
TOTAL EQUITY -86.56%
NON-CURRENT LIABILITIES -96.09%
CURRENT LIABILITIES 491.99%
TOTAL EQUITY AND LIABILITIES -6.30%
NON-CURRENT ASSETS 9.26%
CURRENT ASSETS -34.73%
TOTAL ASSETS -6.30%

Profit and Loss Account Analysis

Sales -75.82%
Cost of sales -78.44%
Gross Profit / (loss) -13.70%
Distribution cost -93.14%
Administrative expenses 45.09%
Other operating expenses -57.43%
Operating Profit / (loss) 9.10%
Other income -85.47%
Finance cost -99.33%
Profit / (Loss) before taxation 406.16%
Taxation 117.76%
Profit / (Loss) for the year 192.72%

Vertical Analysis
2020
BALANCE SHEET ANALYSIS
TOTAL EQUITY 5.75%
NON-CURRENT LIABILITIES 1.89%
CURRENT LIABILITIES 92.36%
TOTAL EQUITY AND LIABILITIES 100.00%
NON-CURRENT ASSETS 75.36%
CURRENT ASSETS 24.64%
TOTAL ASSETS 100.00%
Profit and Loss Account Analysis

Sales 100.00%
Cost of sales 85.53%
Gross Profit / (loss) 14.47%
Distribution cost 0.08%
Administrative expenses 4.74%
Other operating expenses 2.45%
Operating Profit / (loss) 7.20%
Other income 0.02%
Finance cost 0.04%
Profit / (Loss) before taxation 7.19%
Taxation 1.29%
Profit / (Loss) for the year 5.89%
2010

0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%

2010

40.08%
45.30%
14.62%
100.00%
64.63%
35.37%
100.00%
100.00%
95.94%
4.06%
0.28%
0.79%
1.39%
1.60%
0.03%
1.29%
0.34%
0.14%
0.49%
REDCO TEXTILES LIMITED

RATIOS
Liquidity ratios
Current Ratio
Quick Ratio
Debt Management Ratios
Debt Ratio
Debt to Equity Ratio
Market Debt Ratio
TIE
Liabilities to asset Ratio
Asset Efficiency Ratios
Inventory Turnover
Receivables Turnover
DSI
DSO
Operating Cycle
Payable Turnover
DPO
Cash Conversio Cycle
Asset Turnover
Profitability Ratios
Gross Profit Margin
Operating Profit Margin
Net Profit Margin
Raw ROA
ROCE
Market Value Ratios
Book Value/Share
Market Value/Book Value
P/E Ratio
 2020 2010

Current Assets/Current Liabilities 0.267 2.419

(Current Assets-Inventory)/Current Liabilities 0.218 1.355

Total Debt/Total Assets 0.786 0.599

Total Debt/Total Equity 13.67 1.49
Total Debt/(Total Debt + Market Value of Equity) 0.714 0.944
EBIT/Interest Expense 201.50 1.27
Total Liabilities/Total Assets 0.942 0.599

CGS/Average Inventory 9.10 6.80

Credit Sales/Average Receivables 4.12 8.63
365/Inventory TO 40 54
365/ Receivables TO 89 42
DSI+DSO 129 96
Credit Purchases/Average Payables 0.55 2.57
365/DPO 662 142
DSI+DSO-DPO (533) (46)
Sales/Average Total Assets 0.28 1.09

Gross Profit/Sales 14.47% 4.06%

EBIT/Sales 7.22% 1.63%
Net Profit/Sales 5.89% 0.49%
EBIT(1-T)/Average Total Assets 0.39% 0.30%
(Net Profit-Preferred Dividends)/Average Total Common Equity 35.20% 4.42%

Total Common Equity/No. of Common Shares outstanding 1.46 10.85

Market Price per share/Book Value per share 5.48 0.088
Market Price/Earnings Per Share 18.82 6.61
Trend
from 2010-2020

Worsening
Worsening

Worsening
Worsening
Improving
Worsening
Worsening

improving
improving
improving
improving
improving

worsening
improving
improving
 10-Sep-21 2010
Share price 8 0.96
share outstanding 50,000,000 50,000,000

2019 2009
Stores, spare parts and loose tools 38,079,393 22,267,454
Stock in trade 10,061,647 204,130,767
Total Inv 10,061,647 204,130,767

Trade debts 92,329,726 190,191,333

Trade and other payables 89,492,453 162,049,292

TOTAL ASSETS 1,064,884,043 1,437,836,005

Total Int paying debt 997,384,218