ChuttuApp

Financial Feasibility
Assumption Sheet
All amount are in PKR unless otherwise Stated Dec. 2025 Nov. 2025

ASSUMPTIONS
INITIAL INVESTMENT REQUIRED
CapEx 2,500,000 Authorised 100,000
OpEx 3,000,000 Issued 13,750 41,250
TOTAL INITIAL INVESTMENT REQUIRED 5,500,000 Amounts 1,375,000 4,125,000
25.0% 75.0%

CONSUMER/SUPPLY SIDE
Total Karachi Population 18,052,502 18,052,502
Expected Targeted Rate % 1.00% 1.00%
Expected Target Population 180,525 180,525
Expected Conversion Rate % 2.90% 2.85%
Expected Users No. 5,235 5,145
Average Household Income growth rate % 0.83% 0.83%
Avg. Monthly Income per Person Rs. 30,111 29,862
Spending Rate % 30.00% 30.00%
Average Grocery Spending per month Rs. 9,033 8,959
Total Spendings 47,291,692 46,092,217
Commission Rate % 5.00% 5.00%
Commission Revenue 2,364,585 2,304,611
DELIVERY SIDE
Avg. Daily Rides per Client No. 3.00 3.00
Total Daily Rides No. 15,706 15,435
Total Monthly Rides 30 471,170 463,047
Min. Daily Rides per Rider No. 18 18
Total Monthly Rides per Rider 30 540 540
Total No. of Riders No. 873 857
Delivery Charges per Ride Rs. 35 35
Monthly Delivery Charges Rs. 16,490,960 16,206,633
Delivery Exp. per Ride Rs. 25 25
Monthly Delivery Exp. Rs. 11,779,257 11,576,167

Total Rev. 18,855,545 18,511,244

Exp. (11,779,257) (11,576,167)
Gross Profit 7,076,288 6,935,078
GM 37.53% 37.46%
Monthly Salary of a Rider 13,500 13,500
Activity Points 262 257

STATEMENT OF FIN. POSITION

NON CURRENT ASSETS
Mobile Application
Computers
Printers
Furniture
Fixtures and Fittings
Long Term Investments
Other Long Term Assets
TOTAL NON CURRENT ASSETS - -
CURRENT LIABILITIES
Cash and Bank
Short term Investments
Trade Receivables
Prepayments
Other Assets
TOTAL CURRENT ASSETS - -
TOTAL ASSETS - -
EQUITY
AUTHORIZED SHARE CAPITAL
Issued Share Capital
Retained Earnings
TOTAL EQUITY - -
NON CURRENT LIABILITIES
Long Term Loans
Other Long Term Liabilities
TOTAL LONG TERM LIABILITIES - -
CURRENT LIABILITIES
Short Term Borrowings
Trade Payables
Current Portion of Long Term Liabilities
Accrued Markup
Other Short Term Borrowings
TOTAL CURRENT LIABILITIES - -
TOTAL LIABILITIES - -
TOTAL EQUITY AND LIABILITIES - -
check - -

STATEMENT OF COMP. INCOME

NET REVENUE 18,855,545 18,511,244
Delivery Charges Paid (11,779,257) (11,576,167)
GROSS PROFIT 7,076,288 6,935,078
Admin Exp. Monthly
Salaries & Wages (Admin) 30,000 52,870 52,870
No. of Employees 1 1
Salary Growth 0.00% 0.00%
Salaries & Wages (Accounts) 30,000 52,870 52,870
No. of Employees 1 1
Salary Growth 0.00% 0.00%
Salaries & Wages (Supervisor) 25,000 2,511,337 2,467,278
No. of Employees 57 56
Salary Growth 12.00% 44,059 44,059
Customer Services 25,000 176,234 176,234
No. of Employees 4 4
Salary Growth 12.00% 44,059 44,059
Application Maintanence (IT) 25.00 130,881 128,624
No of Users 5,235 5,145
Office Rent 20,000 32,210 32,210
Growth Rate 0.00% 0.00%
Stationary 5,000 5,000 5,000
Transportation 5,000 5,000 5,000
Telephone 5,000 5,000 5,000
 Electicity 18,000 31,722 31,722
Growth Rate 0.00% 0.00%
Internet 5,000 5,000 5,000
Entertainment 5,000 5,000 5,000
Other Exp. 10,000 10,000 10,000
Total Admin Exp. 3,023,125 2,976,809
Marketing Exp.
Commisson to Red Stores 183,233 180,074
Rs. per Client 50.00 50.00 50.00
Client Conversion Rate 70.00% 3,665 3,601
Commission to Users on Referals 78,528 77,174
Rs. per Client 50.00 50.00 50.00
Client Conversion Rate 30.00% 1,571 1,543
Stationary 10,000 10,000 10,000
Transportation 5,000 5,000 5,000
Telephone 5,000 5,000 5,000
Internet 5,000 5,000 5,000
Entertainment 8,000 8,000 8,000
Other Exp. 10,000 10,000 10,000
Total Marketing Exp. 304,761 300,248
Other Exp.
Company Registration 20,000
Legal &Tax 100,000
Audit 300,000
Cosultancy & Other 25,000
Total Other Exp. - -
Finance Costs
Bank Charges
Interest Exp.
Others
Total Finance Costs
Other Income
Interest on Fixed Income
Dividends Received
Capital Gains on Investments
Total Other Income
PROFIT BEFORE TAX 3,748,402 3,658,020
Tax Exp. 17.00% 637,228 621,863
NET PROFIT 3,111,173 3,036,157
Oct. 2025 Sep. 2025 Aug. 2025 Jul. 2025 Jun. 2025 May. 2025 Apr. 2025

5,500,000 22,000,000
55,000 55,000 0.25 13,750
5,500,000 400.00
100.0% par 100.00
premium 300.00

18,052,502 18,052,502 18,052,502 18,052,502 18,052,502 18,052,502 18,052,502

1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
180,525 180,525 180,525 180,525 180,525 180,525 180,525
2.80% 2.75% 2.70% 2.65% 2.60% 2.55% 2.50%
5,055 4,964 4,874 4,784 4,694 4,603 4,513
0.83% 0.83% 0.83% 0.83% 0.83% 0.83% 0.83%
29,616 29,371 29,128 28,887 28,649 28,412 28,177
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
8,885 8,811 8,738 8,666 8,595 8,524 8,453
44,909,337 43,742,861 42,592,597 41,458,359 40,339,960 39,237,215 38,149,941
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
2,245,467 2,187,143 2,129,630 2,072,918 2,016,998 1,961,861 1,907,497

3.00 3.00 3.00 3.00 3.00 3.00 3.00

15,164 14,893 14,623 14,352 14,081 13,810 13,539
454,923 446,799 438,676 430,552 422,429 414,305 406,181
18 18 18 18 18 18 18
540 540 540 540 540 540 540
842 827 812 797 782 767 752
35 35 35 35 35 35 35
15,922,306 15,637,980 15,353,653 15,069,326 14,784,999 14,500,672 14,216,345
25 25 25 25 25 25 25
11,373,076 11,169,985 10,966,895 10,763,804 10,560,713 10,357,623 10,154,532

18,167,773 17,825,123 17,483,283 17,142,244 16,801,997 16,462,533 16,123,842

(11,373,076) (11,169,985) (10,966,895) (10,763,804) (10,560,713) (10,357,623) (10,154,532)
6,794,697 6,655,137 6,516,388 6,378,440 6,241,283 6,104,910 5,969,310
37.40% 37.34% 37.27% 37.21% 37.15% 37.08% 37.02%
13,500 13,500 13,500 13,500 13,500 13,500 13,500
253 248 244 239 235 230 226
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- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

18,167,773 17,825,123 17,483,283 17,142,244 16,801,997 16,462,533 16,123,842

(11,373,076) (11,169,985) (10,966,895) (10,763,804) (10,560,713) (10,357,623) (10,154,532)
6,794,697 6,655,137 6,516,388 6,378,440 6,241,283 6,104,910 5,969,310

52,870 47,206 47,206 47,206 47,206 47,206 47,206

1 1 1 1 1 1 1
12.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
52,870 47,206 47,206 47,206 47,206 47,206 47,206
1 1 1 1 1 1 1
12.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
2,423,220 2,124,251 2,084,913 2,045,575 2,006,237 1,966,899 1,927,561
55 54 53 52 51 50 49
44,059 39,338 39,338 39,338 39,338 39,338 39,338
176,234 157,352 157,352 157,352 157,352 157,352 157,352
4 4 4 4 4 4 4
44,059 39,338 39,338 39,338 39,338 39,338 39,338
126,368 124,111 121,854 119,598 117,341 115,085 112,828
5,055 4,964 4,874 4,784 4,694 4,603 4,513
32,210 29,282 29,282 29,282 29,282 29,282 29,282
10.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
 31,722 28,323 28,323 28,323 28,323 28,323 28,323
12.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
2,930,494 2,592,731 2,551,136 2,509,541 2,467,947 2,426,352 2,384,758

176,915 173,755 170,596 167,437 164,278 161,119 157,959

50.00 50.00 50.00 50.00 50.00 50.00 50.00
3,538 3,475 3,412 3,349 3,286 3,222 3,159
75,821 74,467 73,113 71,759 70,405 69,051 67,697
50.00 50.00 50.00 50.00 50.00 50.00 50.00
1,516 1,489 1,462 1,435 1,408 1,381 1,354
10,000 10,000 10,000 10,000 10,000 10,000 10,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
8,000 8,000 8,000 8,000 8,000 8,000 8,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
295,735 291,222 286,709 282,196 277,683 273,169 268,656

200,000
500,000

- - - - - 700,000 -

3,568,468 3,771,185 3,678,543 3,586,703 3,495,654 2,705,388 3,315,896

606,640 641,101 625,352 609,739 594,261 459,916 563,702
2,961,828 3,130,083 3,053,191 2,976,963 2,901,393 2,245,472 2,752,194
Mar. 2025 Feb. 2025 Jan. 2025 Dec. 2024 Nov. 2024 Oct. 2024 Sep. 2024

18,052,502 18,052,502 18,052,502 17,642,605 17,642,605 17,642,605 17,642,605

1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
180,525 180,525 180,525 176,426 176,426 176,426 176,426
2.45% 2.40% 2.35% 2.30% 2.25% 2.20% 2.15%
4,423 4,333 4,242 4,058 3,970 3,881 3,793
0.83% 0.83% 0.83% 0.83% 0.83% 0.83% 0.83%
27,944 27,713 27,484 27,257 27,032 26,808 26,587
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
8,383 8,314 8,245 8,177 8,110 8,043 7,976
37,077,959 36,021,091 34,979,158 33,181,081 32,191,490 31,215,991 30,254,416
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
1,853,898 1,801,055 1,748,958 1,659,054 1,609,575 1,560,800 1,512,721

3.00 3.00 3.00 3.00 3.00 3.00 3.00

13,269 12,998 12,727 12,173 11,909 11,644 11,379
398,058 389,934 381,810 365,202 357,263 349,324 341,384
18 18 18 18 18 18 18
540 540 540 540 540 540 540
737 722 707 676 662 647 632
35 35 35 35 35 35 35
13,932,018 13,647,691 13,363,364 12,782,067 12,504,196 12,226,325 11,948,454
25 25 25 25 25 25 25
9,951,442 9,748,351 9,545,260 9,130,048 8,931,569 8,733,090 8,534,610

15,785,916 15,448,746 15,112,322 14,441,121 14,113,771 13,787,125 13,461,175

(9,951,442) (9,748,351) (9,545,260) (9,130,048) (8,931,569) (8,733,090) (8,534,610)
5,834,475 5,700,395 5,567,062 5,311,073 5,182,202 5,054,035 4,926,565
36.96% 36.90% 36.84% 36.78% 36.72% 36.66% 36.60%
13,500 13,500 13,500 13,500 13,500 13,500 13,500
221 217 212 203 198 194 190
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- - - - - - -

15,785,916 15,448,746 15,112,322 14,441,121 14,113,771 13,787,125 13,461,175

(9,951,442) (9,748,351) (9,545,260) (9,130,048) (8,931,569) (8,733,090) (8,534,610)
5,834,475 5,700,395 5,567,062 5,311,073 5,182,202 5,054,035 4,926,565

47,206 47,206 47,206 47,206 47,206 47,206 42,148

1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 12.00% 0.00%
47,206 47,206 47,206 47,206 47,206 47,206 42,148
1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 12.00% 0.00%
1,888,223 1,848,885 1,809,547 1,770,209 1,730,871 1,691,533 1,475,174
48 47 46 45 44 43 42
39,338 39,338 39,338 39,338 39,338 39,338 35,123
157,352 157,352 157,352 157,352 157,352 157,352 140,493
4 4 4 4 4 4 4
39,338 39,338 39,338 39,338 39,338 39,338 35,123
110,572 108,315 106,058 101,445 99,240 97,034 94,829
4,423 4,333 4,242 4,058 3,970 3,881 3,793
29,282 29,282 29,282 29,282 29,282 29,282 26,620
0.00% 0.00% 0.00% 0.00% 0.00% 10.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
 28,323 28,323 28,323 28,323 28,323 28,323 25,289
0.00% 0.00% 0.00% 0.00% 0.00% 12.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
2,343,163 2,301,569 2,259,974 2,216,023 2,174,479 2,132,936 1,881,701

154,800 151,641 148,482 142,023 138,936 135,848 132,761

50.00 50.00 50.00 50.00 50.00 50.00 50.00
3,096 3,033 2,970 2,840 2,779 2,717 2,655
66,343 64,989 63,635 60,867 59,544 58,221 56,897
50.00 50.00 50.00 50.00 50.00 50.00 50.00
1,327 1,300 1,273 1,217 1,191 1,164 1,138
10,000 10,000 10,000 10,000 10,000 10,000 10,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
8,000 8,000 8,000 8,000 8,000 8,000 8,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
264,143 259,630 255,117 245,890 241,479 237,069 232,658

- - - - - - -

3,227,168 3,139,196 3,051,971 2,849,161 2,766,243 2,684,031 2,812,206

548,619 533,663 518,835 484,357 470,261 456,285 478,075
2,678,550 2,605,533 2,533,136 2,364,803 2,295,982 2,227,745 2,334,131
Aug. 2024 Jul. 2024 Jun. 2024 May. 2024 Apr. 2024 Mar. 2024 Feb. 2024

17,642,605 17,642,605 17,642,605 17,642,605 17,642,605 17,642,605 17,642,605

1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
176,426 176,426 176,426 176,426 176,426 176,426 176,426
2.10% 2.05% 2.00% 1.95% 1.90% 1.85% 1.80%
3,705 3,617 3,529 3,440 3,352 3,264 3,176
0.83% 0.83% 0.83% 0.83% 0.83% 0.83% 0.83%
26,367 26,149 25,933 25,719 25,506 25,295 25,086
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
7,910 7,845 7,780 7,716 7,652 7,589 7,526
29,306,603 28,372,390 27,451,617 26,544,126 25,649,759 24,768,363 23,899,783
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
1,465,330 1,418,620 1,372,581 1,327,206 1,282,488 1,238,418 1,194,989

3.00 3.00 3.00 3.00 3.00 3.00 3.00

11,115 10,850 10,586 10,321 10,056 9,792 9,527
333,445 325,506 317,567 309,628 301,689 293,749 285,810
18 18 18 18 18 18 18
540 540 540 540 540 540 540
617 603 588 573 559 544 529
35 35 35 35 35 35 35
11,670,583 11,392,712 11,114,841 10,836,970 10,559,099 10,281,228 10,003,357
25 25 25 25 25 25 25
8,336,131 8,137,652 7,939,172 7,740,693 7,542,214 7,343,734 7,145,255

13,135,913 12,811,332 12,487,422 12,164,177 11,841,587 11,519,646 11,198,346

(8,336,131) (8,137,652) (7,939,172) (7,740,693) (7,542,214) (7,343,734) (7,145,255)
4,799,783 4,673,680 4,548,250 4,423,484 4,299,373 4,175,912 4,053,091
36.54% 36.48% 36.42% 36.36% 36.31% 36.25% 36.19%
13,500 13,500 13,500 13,500 13,500 13,500 13,500
185 181 176 172 168 163 159
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13,135,913 12,811,332 12,487,422 12,164,177 11,841,587 11,519,646 11,198,346

(8,336,131) (8,137,652) (7,939,172) (7,740,693) (7,542,214) (7,343,734) (7,145,255)
4,799,783 4,673,680 4,548,250 4,423,484 4,299,373 4,175,912 4,053,091

42,148 42,148 42,148 42,148 42,148 42,148 42,148

1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
42,148 42,148 42,148 42,148 42,148 42,148 42,148
1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
1,440,051 1,404,928 1,369,805 1,334,682 1,299,558 1,264,435 1,229,312
41 40 39 38 37 36 35
35,123 35,123 35,123 35,123 35,123 35,123 35,123
140,493 140,493 140,493 140,493 140,493 140,493 140,493
4 4 4 4 4 4 4
35,123 35,123 35,123 35,123 35,123 35,123 35,123
92,624 90,418 88,213 86,008 83,802 81,597 79,392
3,705 3,617 3,529 3,440 3,352 3,264 3,176
26,620 26,620 26,620 26,620 26,620 26,620 26,620
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
 25,289 25,289 25,289 25,289 25,289 25,289 25,289
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
1,844,372 1,807,044 1,769,715 1,732,386 1,695,058 1,657,729 1,620,401

129,673 126,586 123,498 120,411 117,323 114,236 111,148

50.00 50.00 50.00 50.00 50.00 50.00 50.00
2,593 2,532 2,470 2,408 2,346 2,285 2,223
55,574 54,251 52,928 51,605 50,281 48,958 47,635
50.00 50.00 50.00 50.00 50.00 50.00 50.00
1,111 1,085 1,059 1,032 1,006 979 953
10,000 10,000 10,000 10,000 10,000 10,000 10,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
8,000 8,000 8,000 8,000 8,000 8,000 8,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
228,247 223,837 219,426 215,015 210,605 206,194 201,783

200,000
450,000

- - - 650,000 - - -

2,727,163 2,642,800 2,559,109 1,826,082 2,393,711 2,311,988 2,230,907

463,618 449,276 435,048 310,434 406,931 393,038 379,254
2,263,545 2,193,524 2,124,060 1,515,648 1,986,780 1,918,950 1,851,653
Jan. 2024 Dec. 2023 Nov. 2023 Oct. 2023 Sep. 2023 Aug. 2023 Jul. 2023

17,642,605 17,242,016 17,242,016 17,242,016 17,242,016 17,242,016 17,242,016

1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
176,426 172,420 172,420 172,420 172,420 172,420 172,420
1.75% 1.70% 1.65% 1.60% 1.55% 1.50% 1.45%
3,087 2,931 2,845 2,759 2,673 2,586 2,500
0.83% 0.83% 0.83% 0.83% 0.83% 0.83% 0.83%
24,879 24,673 24,470 24,267 24,067 23,868 23,671
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
7,464 7,402 7,341 7,280 7,220 7,160 7,101
23,043,868 21,696,388 20,884,224 20,084,002 19,295,580 18,518,819 17,753,578
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
1,152,193 1,084,819 1,044,211 1,004,200 964,779 925,941 887,679

3.00 3.00 3.00 3.00 3.00 3.00 3.00

9,262 8,793 8,535 8,276 8,018 7,759 7,500
277,871 263,803 256,044 248,285 240,526 232,767 225,008
18 18 18 18 18 18 18
540 540 540 540 540 540 540
515 489 474 460 445 431 417
35 35 35 35 35 35 35
9,725,486 9,233,099 8,961,538 8,689,976 8,418,414 8,146,852 7,875,291
25 25 25 25 25 25 25
6,946,776 6,595,071 6,401,098 6,207,126 6,013,153 5,819,180 5,625,208

10,877,679 10,317,919 10,005,749 9,694,176 9,383,193 9,072,793 8,762,970

(6,946,776) (6,595,071) (6,401,098) (6,207,126) (6,013,153) (5,819,180) (5,625,208)
3,930,904 3,722,848 3,604,651 3,487,050 3,370,040 3,253,613 3,137,762
36.14% 36.08% 36.03% 35.97% 35.92% 35.86% 35.81%
13,500 13,500 13,500 13,500 13,500 13,500 13,500
154 147 142 138 134 129 125
 - - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

10,877,679 10,317,919 10,005,749 9,694,176 9,383,193 9,072,793 8,762,970

(6,946,776) (6,595,071) (6,401,098) (6,207,126) (6,013,153) (5,819,180) (5,625,208)
3,930,904 3,722,848 3,604,651 3,487,050 3,370,040 3,253,613 3,137,762

42,148 42,148 42,148 42,148 37,632 37,632 37,632

1 1 1 1 1 1 1
0.00% 0.00% 0.00% 12.00% 0.00% 0.00% 0.00%
42,148 42,148 42,148 42,148 37,632 37,632 37,632
1 1 1 1 1 1 1
0.00% 0.00% 0.00% 12.00% 0.00% 0.00% 0.00%
1,194,189 1,159,066 1,123,942 1,088,819 940,800 909,440 878,080
34 33 32 31 30 29 28
35,123 35,123 35,123 35,123 31,360 31,360 31,360
140,493 140,493 140,493 140,493 125,440 125,440 125,440
4 4 4 4 4 4 4
35,123 35,123 35,123 35,123 31,360 31,360 31,360
77,186 73,279 71,123 68,968 66,813 64,658 62,502
3,087 2,931 2,845 2,759 2,673 2,586 2,500
26,620 26,620 26,620 26,620 24,200 24,200 24,200
0.00% 0.00% 0.00% 10.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
 25,289 25,289 25,289 25,289 22,579 22,579 22,579
0.00% 0.00% 0.00% 12.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
1,583,072 1,544,041 1,506,763 1,469,484 1,290,096 1,256,581 1,223,066

108,061 102,590 99,573 96,555 93,538 90,521 87,503

50.00 50.00 50.00 50.00 50.00 50.00 50.00
2,161 2,052 1,991 1,931 1,871 1,810 1,750
46,312 43,967 42,674 41,381 40,088 38,795 37,501
50.00 50.00 50.00 50.00 50.00 50.00 50.00
926 879 853 828 802 776 750
10,000 10,000 10,000 10,000 10,000 10,000 10,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
8,000 8,000 8,000 8,000 8,000 8,000 8,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
197,373 189,557 185,247 180,936 176,626 172,315 168,005

- - - - - - -

2,150,459 1,989,249 1,912,641 1,836,630 1,903,319 1,824,717 1,746,692

365,578 338,172 325,149 312,227 323,564 310,202 296,938
1,784,881 1,651,077 1,587,492 1,524,403 1,579,754 1,514,515 1,449,754
Jun. 2023 May. 2023 Apr. 2023 Mar. 2023 Feb. 2023 Jan. 2023 Dec. 2022

17,242,016 17,242,016 17,242,016 17,242,016 17,242,016 17,242,016 16,850,522

1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
172,420 172,420 172,420 172,420 172,420 172,420 168,505
1.40% 1.35% 1.30% 1.25% 1.20% 1.15% 1.10%
2,414 2,328 2,241 2,155 2,069 1,983 1,854
0.83% 0.83% 0.83% 0.83% 0.83% 0.83% 0.83%
23,475 23,281 23,089 22,898 22,708 22,521 22,335
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
7,042 6,984 6,927 6,869 6,813 6,756 6,700
16,999,722 16,257,113 15,525,617 14,805,102 14,095,436 13,396,489 12,419,584
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
849,986 812,856 776,281 740,255 704,772 669,824 620,979

3.00 3.00 3.00 3.00 3.00 3.00 3.00

7,242 6,983 6,724 6,466 6,207 5,948 5,561
217,249 209,490 201,732 193,973 186,214 178,455 166,820
18 18 18 18 18 18 18
540 540 540 540 540 540 540
402 388 374 359 345 330 309
35 35 35 35 35 35 35
7,603,729 7,332,167 7,060,605 6,789,044 6,517,482 6,245,920 5,838,706
25 25 25 25 25 25 25
5,431,235 5,237,262 5,043,290 4,849,317 4,655,344 4,461,372 4,170,504

8,453,715 8,145,023 7,836,886 7,529,299 7,222,254 6,915,745 6,459,685

(5,431,235) (5,237,262) (5,043,290) (4,849,317) (4,655,344) (4,461,372) (4,170,504)
3,022,480 2,907,761 2,793,597 2,679,982 2,566,910 2,454,373 2,289,181
35.75% 35.70% 35.65% 35.59% 35.54% 35.49% 35.44%
13,500 13,500 13,500 13,500 13,500 13,500 13,500
121 116 112 108 103 99 93
 - - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

8,453,715 8,145,023 7,836,886 7,529,299 7,222,254 6,915,745 6,459,685

(5,431,235) (5,237,262) (5,043,290) (4,849,317) (4,655,344) (4,461,372) (4,170,504)
3,022,480 2,907,761 2,793,597 2,679,982 2,566,910 2,454,373 2,289,181

37,632 37,632 37,632 37,632 37,632 37,632 37,632

1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
37,632 37,632 37,632 37,632 37,632 37,632 37,632
1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
846,720 815,360 784,000 752,640 721,280 689,920 658,560
27 26 25 24 23 22 21
31,360 31,360 31,360 31,360 31,360 31,360 31,360
125,440 125,440 125,440 125,440 125,440 125,440 125,440
4 4 4 4 4 4 4
31,360 31,360 31,360 31,360 31,360 31,360 31,360
60,347 58,192 56,037 53,881 51,726 49,571 46,339
2,414 2,328 2,241 2,155 2,069 1,983 1,854
24,200 24,200 24,200 24,200 24,200 24,200 24,200
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
 22,579 22,579 22,579 22,579 22,579 22,579 22,579
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
1,189,550 1,156,035 1,122,520 1,089,004 1,055,489 1,021,974 987,382

84,486 81,469 78,451 75,434 72,416 69,399 64,875

50.00 50.00 50.00 50.00 50.00 50.00 50.00
1,690 1,629 1,569 1,509 1,448 1,388 1,297
36,208 34,915 33,622 32,329 31,036 29,742 27,803
50.00 50.00 50.00 50.00 50.00 50.00 50.00
724 698 672 647 621 595 556
10,000 10,000 10,000 10,000 10,000 10,000 10,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
8,000 8,000 8,000 8,000 8,000 8,000 8,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
163,694 159,384 155,073 150,763 146,452 142,142 135,678

200,000
400,000

- 600,000 - - - - -

1,669,236 992,342 1,516,004 1,440,215 1,364,968 1,290,257 1,166,121

283,770 168,698 257,721 244,837 232,045 219,344 198,241
1,385,466 823,644 1,258,283 1,195,378 1,132,924 1,070,914 967,880
Nov. 2022 Oct. 2022 Sep. 2022 Aug. 2022 Jul. 2022 Jun. 2022 May. 2022

16,850,522 16,850,522 16,850,522 16,850,522 16,850,522 16,850,522 16,850,522

1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
168,505 168,505 168,505 168,505 168,505 168,505 168,505
1.05% 1.00% 0.95% 0.90% 0.85% 0.80% 0.75%
1,769 1,685 1,601 1,517 1,432 1,348 1,264
0.83% 0.83% 0.83% 0.83% 0.83% 0.83% 0.83%
22,150 21,967 21,785 21,605 21,427 21,250 21,074
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
6,645 6,590 6,536 6,482 6,428 6,375 6,322
11,757,081 11,104,681 10,462,262 9,829,702 9,206,884 8,593,688 7,989,999
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
587,854 555,234 523,113 491,485 460,344 429,684 399,500

3.00 3.00 3.00 3.00 3.00 3.00 3.00

5,308 5,055 4,802 4,550 4,297 4,044 3,791
159,237 151,655 144,072 136,489 128,906 121,324 113,741
18 18 18 18 18 18 18
540 540 540 540 540 540 540
295 281 267 253 239 225 211
35 35 35 35 35 35 35
5,573,310 5,307,914 5,042,519 4,777,123 4,511,727 4,246,332 3,980,936
25 25 25 25 25 25 25
3,980,936 3,791,367 3,601,799 3,412,231 3,222,662 3,033,094 2,843,526

6,161,164 5,863,148 5,565,632 5,268,608 4,972,071 4,676,016 4,380,436

(3,980,936) (3,791,367) (3,601,799) (3,412,231) (3,222,662) (3,033,094) (2,843,526)
2,180,228 2,071,781 1,963,833 1,856,377 1,749,409 1,642,922 1,536,910
35.39% 35.34% 35.28% 35.23% 35.18% 35.14% 35.09%
13,500 13,500 13,500 13,500 13,500 13,500 13,500
88 84 80 76 72 67 63
 - - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

6,161,164 5,863,148 5,565,632 5,268,608 4,972,071 4,676,016 4,380,436

(3,980,936) (3,791,367) (3,601,799) (3,412,231) (3,222,662) (3,033,094) (2,843,526)
2,180,228 2,071,781 1,963,833 1,856,377 1,749,409 1,642,922 1,536,910

37,632 37,632 33,600 33,600 33,600 33,600 33,600

1 1 1 1 1 1 1
0.00% 12.00% 0.00% 0.00% 0.00% 0.00% 0.00%
37,632 37,632 33,600 33,600 33,600 33,600 33,600
1 1 1 1 1 1 1
0.00% 12.00% 0.00% 0.00% 0.00% 0.00% 0.00%
627,200 595,840 504,000 476,000 448,000 420,000 392,000
20 19 18 17 16 15 14
31,360 31,360 28,000 28,000 28,000 28,000 28,000
125,440 125,440 112,000 112,000 112,000 112,000 112,000
4 4 4 4 4 4 4
31,360 31,360 28,000 28,000 28,000 28,000 28,000
44,233 42,126 40,020 37,914 35,807 33,701 31,595
1,769 1,685 1,601 1,517 1,432 1,348 1,264
24,200 24,200 22,000 22,000 22,000 22,000 22,000
0.00% 10.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
 22,579 22,579 20,160 20,160 20,160 20,160 20,160
0.00% 12.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
953,916 920,450 800,380 770,274 740,167 710,061 679,955

61,926 58,977 56,028 53,079 50,130 47,181 44,233

50.00 50.00 50.00 50.00 50.00 50.00 50.00
1,239 1,180 1,121 1,062 1,003 944 885
26,540 25,276 24,012 22,748 21,484 20,221 18,957
50.00 50.00 50.00 50.00 50.00 50.00 50.00
531 506 480 455 430 404 379
10,000 10,000 10,000 10,000 10,000 10,000 10,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
8,000 8,000 8,000 8,000 8,000 8,000 8,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
131,465 127,253 123,040 118,827 114,615 110,402 106,189

150,000
350,000

- - - - - - 500,000

1,094,847 1,024,079 1,040,413 967,276 894,627 822,459 250,766

186,124 174,093 176,870 164,437 152,087 139,818 42,630
908,723 849,986 863,543 802,839 742,540 682,641 208,136
Apr. 2022 Mar. 2022 Feb. 2022 Jan. 2022 Dec. 2021 Nov. 2021 Oct. 2021

16,850,522 16,850,522 16,850,522 16,850,522 16,467,917 16,467,917 16,467,917

1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
168,505 168,505 168,505 168,505 164,679 164,679 164,679
0.70% 0.65% 0.60% 0.55% 0.50% 0.45% 0.40%
1,180 1,095 1,011 927 823 741 659
0.83% 0.83% 0.83% 0.83% 0.83% 0.83% 0.83%
20,900 20,727 20,556 20,386 20,218 20,051 19,885
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
6,270 6,218 6,167 6,116 6,065 6,015 5,965
7,395,702 6,810,682 6,234,826 5,668,024 4,994,134 4,457,574 3,929,542
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
369,785 340,534 311,741 283,401 249,707 222,879 196,477

3.00 3.00 3.00 3.00 3.00 3.00 3.00

3,539 3,286 3,033 2,780 2,470 2,223 1,976
106,158 98,576 90,993 83,410 74,106 66,695 59,285
18 18 18 18 18 18 18
540 540 540 540 540 540 540
197 183 169 154 137 124 110
35 35 35 35 35 35 35
3,715,540 3,450,144 3,184,749 2,919,353 2,593,697 2,334,327 2,074,958
25 25 25 25 25 25 25
2,653,957 2,464,389 2,274,820 2,085,252 1,852,641 1,667,377 1,482,113

4,085,325 3,790,678 3,496,490 3,202,754 2,843,404 2,557,206 2,271,435

(2,653,957) (2,464,389) (2,274,820) (2,085,252) (1,852,641) (1,667,377) (1,482,113)
1,431,368 1,326,290 1,221,669 1,117,502 990,763 889,829 789,322
35.04% 34.99% 34.94% 34.89% 34.84% 34.80% 34.75%
13,500 13,500 13,500 13,500 13,500 13,500 13,500
59 55 51 46 41 37 33
 - - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

4,085,325 3,790,678 3,496,490 3,202,754 2,843,404 2,557,206 2,271,435

(2,653,957) (2,464,389) (2,274,820) (2,085,252) (1,852,641) (1,667,377) (1,482,113)
1,431,368 1,326,290 1,221,669 1,117,502 990,763 889,829 789,322

33,600 33,600 33,600 33,600 33,600 33,600 33,600

1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.00%
33,600 33,600 33,600 33,600 33,600 33,600 33,600
1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.00%
364,000 336,000 308,000 280,000 252,000 224,000 196,000
13 12 11 10 9 8 7
28,000 28,000 28,000 28,000 28,000 28,000 28,000
112,000 112,000 112,000 112,000 112,000 112,000 112,000
4 4 4 4 4 4 4
28,000 28,000 28,000 28,000 28,000 28,000 28,000
29,488 27,382 25,276 23,169 20,585 18,526 16,468
1,180 1,095 1,011 927 823 741 659
22,000 22,000 22,000 22,000 22,000 22,000 22,000
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 10.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
 20,160 20,160 20,160 20,160 20,160 20,160 20,160
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
649,848 619,742 589,636 559,529 528,945 498,886 468,828

41,284 38,335 35,386 32,437 28,819 25,937 23,055

50.00 50.00 50.00 50.00 50.00 50.00 50.00
826 767 708 649 576 519 461
17,693 16,429 15,165 13,902 12,351 11,116 9,881
50.00 50.00 50.00 50.00 50.00 50.00 50.00
354 329 303 278 247 222 198
10,000 10,000 10,000 10,000 10,000 10,000 10,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
8,000 8,000 8,000 8,000 8,000 8,000 8,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
101,977 97,764 93,552 89,339 84,170 80,053 75,936

- - - - - - -

679,543 608,783 538,482 468,634 377,648 310,890 244,558

115,522 103,493 91,542 79,668 64,200 52,851 41,575
564,020 505,290 446,940 388,966 313,448 258,039 202,983
Sep. 2021 Aug. 2021 Jul. 2021 Jun. 2021 May. 2021 Apr. 2021 Mar. 2021

16,467,917 16,467,917 16,467,917 16,467,917 16,467,917 16,467,917 16,467,917

1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%
164,679 164,679 164,679 164,679 164,679 164,679 164,679
0.35% 0.30% 0.25% 0.20% 0.15% 0.10% 0.00%
576 494 412 329 247 165 -
0.83% 0.83% 0.83% 0.83% 0.83% 0.83% 0.83%
19,720 19,558 19,396 19,236 19,077 18,919 18,763
30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
5,916 5,867 5,819 5,771 5,723 5,676 5,629
3,409,933 2,898,644 2,395,574 1,900,621 1,413,685 934,668 -
5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00%
170,497 144,932 119,779 95,031 70,684 46,733 -

3.00 3.00 3.00 3.00 3.00 3.00 3.00

1,729 1,482 1,235 988 741 494 -
51,874 44,463 37,053 29,642 22,232 14,821 -
18 18 18 18 18 18 18
540 540 540 540 540 540 540
96 82 69 55 41 27 -
35 35 35 35 35 35 35
1,815,588 1,556,218 1,296,848 1,037,479 778,109 518,739 -
25 25 25 25 25 25 25
1,296,848 1,111,584 926,320 741,056 555,792 370,528 -

1,986,085 1,701,150 1,416,627 1,132,510 848,793 565,473 -

(1,296,848) (1,111,584) (926,320) (741,056) (555,792) (370,528) -
689,236 589,566 490,307 391,454 293,001 194,945 -
34.70% 34.66% 34.61% 34.57% 34.52% 34.47%
13,500 13,500 13,500 13,500 13,500 13,500
29 25 21 16 12 8
 - - - - - - -

- - - - - - -
- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

1,986,085 1,701,150 1,416,627 1,132,510 848,793 565,473 -

(1,296,848) (1,111,584) (926,320) (741,056) (555,792) (370,528) -
689,236 589,566 490,307 391,454 293,001 194,945 -

30,000 30,000 30,000 30,000 30,000 30,000 30,000

1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
30,000 30,000 30,000 30,000 30,000 30,000 30,000
1 1 1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
150,000 125,000 100,000 75,000 50,000 25,000 25,000
6 5 4 3 2 1 1
25,000 25,000 25,000 25,000 25,000 25,000 25,000
100,000 100,000 100,000 100,000 100,000 100,000 100,000
4 4 4 4 4 4 4
25,000 25,000 25,000 25,000 25,000 25,000 25,000
14,409 12,351 10,292 8,234 6,175 4,117 -
576 494 412 329 247 165 -
20,000 20,000 20,000 20,000 20,000 20,000 20,000
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
 18,000 18,000 18,000 18,000 18,000 18,000 18,000
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
397,409 370,351 343,292 316,234 289,175 262,117 258,000

20,173 17,291 14,409 11,528 8,646 5,764 -

50.00 50.00 50.00 50.00 50.00 50.00 50.00
403 346 288 231 173 115 -
8,646 7,411 6,175 4,940 3,705 2,470 -
50.00 50.00 50.00 50.00 50.00 50.00 50.00
173 148 124 99 74 49 -
10,000 10,000 10,000 10,000 10,000 10,000 10,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000 5,000 5,000
8,000 8,000 8,000 8,000 8,000 8,000 8,000
10,000 10,000 10,000 10,000 10,000 10,000 10,000
71,819 67,702 63,585 59,468 55,351 51,234 43,000

100,000
300,000

- - - - 400,000 - -

220,008 151,513 83,429 15,752 (451,525) (118,406) (301,000)

37,401 25,757 14,183 2,678
182,606 125,756 69,246 13,074 (451,525) (118,406) (301,000)
Feb. 2021 Jan. 2021 Dec. 2020 Nov. 2020 Oct. 2020

16,467,917 16,467,917 16,094,000 16,094,000 16,094,000

1.00% 1.00% 1.00% 1.00% 1.00%
164,679 164,679 160,940 160,940 160,940
0.00% 0.00% 0.00% 0.00% 0.00%
- - - - -
0.83% 0.83% 0.83% 0.83%
18,608 18,454 18,301 18,150 18,000
30.00% 30.00% 30.00% 30.00% 30.00%
5,582 5,536 5,490 5,445 5,400
- - - - -
5.00% 5.00% 5.00% 5.00% 5.00%
- - - - -

3.00 3.00 3.00 3.00 3.00

- - - - -
- - - - -
18 18 18 18 18
540 540 540 540 540
- - - - -
35 35 35 35 35
- - - - -
25 25 25 25 25
- - - - -

- - - - -
- - - - -
- - - - -

800,000
375,000
25,000
250,000
150,000
 500,000
- - - - 2,100,000

- - - - -
- - - - 2,100,000

- - - - -

- - - - -

- - - - -
- - - - -
- - - - -
- - - - 2,100,000

- - - - -
- - - - -
- - - - -

30,000 30,000 30,000 30,000 30,000

1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00%
30,000 30,000 30,000 30,000 30,000
1 1 1 1 1
0.00% 0.00% 0.00% 0.00% 0.00%
25,000 25,000 25,000 25,000 25,000
1 1 1 1 1
25,000 25,000 25,000 25,000 25,000
100,000 100,000 - - -
4 4 - - -
25,000 25,000 25,000 25,000 25,000
- - - - -
- - - - -
20,000 20,000 20,000 20,000 20,000
0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000
 18,000 18,000 18,000 18,000 18,000
0.00% 0.00% 0.00% 0.00% 0.00%
5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000
10,000 10,000 10,000 10,000 10,000
258,000 258,000 158,000 158,000 158,000

- - - - -
50.00 50.00 50.00 50.00 50.00
- - - - -
- - - - -
50.00 50.00 50.00 50.00 50.00
- - - - -
10,000 10,000 10,000 10,000 10,000
5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000
5,000 5,000 5,000 5,000 5,000
8,000 8,000 8,000 8,000 8,000
10,000 10,000 10,000 10,000 10,000
43,000 43,000 43,000 43,000 43,000

20,000

25,000
- - - - 45,000

(301,000) (301,000) (201,000) (201,000) (246,000)

(301,000) (301,000) (201,000) (201,000) (246,000)

ChuttuApp
Financial Statements Projections
Year End June 30,
All amount are in PKR unless otherwise Stated

STATMENT OF FINANCIAL POSITION

NON CURRENT ASSETS
Mobile Application
Computers
Printers
Furniture
Fixtures and Fittings
CapEx
Other Long Term Assets
TOTAL NON CURRENT ASSETS
CURRENT LIABILITIES
Cash and Bank
Short term Investments
Trade Receivables
Prepayments
Other Assets
TOTAL CURRENT ASSETS
TOTAL ASSETS
EQUITY
AUTHORIZED SHARE CAPITAL
Issued Share Capital
Share Premium
Retained Earnings
TOTAL EQUITY
NON CURRENT LIABILITIES
Long Term Loans
Other Long Term Liabilities
TOTAL LONG TERM LIABILITIES
CURRENT LIABILITIES
Short Term Borrowings
Trade Payables
Current Portion of Long Term Liabilities
Accrued Markup
Other Short Term Borrowings
TOTAL CURRENT LIABILITIES
TOTAL LIABILITIES
TOTAL EQUITY AND LIABILITIES
check

PROFIT & LOSS ACCOUNT

REVENUE
Delivery Exp.
GROSS PROFIT
Admin Exp.
Marketing Exp.
Other Exp.
OPERATING PROFIT/(LOSS)
Other Income
Finance Cost
PROFIT/(LOSS) BEFORE TAX
Taxation
NET PROFIT/(LOSS)
Dividends to Investors 80.00%
No. of Ord. Shares
EPS

CASH FLOW STATEMENT

OPERATING CASHFLOWS
Commission Received
Delivery Received
Delivery Exp. Paid
Admin. Exp.
Marketing Exp.
Other Operating Exp.
Cash From Operations
Tax Paid
NET OPERATING CASH FLOWS

INVESTING CASHFLOWS
CapEx 25.00%
Longterm Investments
Shortterm Investments
NET INVESTING CASH FLOWS

FINANCING CASHFLOWS
Equity Financing
Long term Debt Obtained
Short term Debt Obtained
Long term Debt Repaid
Short term Debt Repaid
Dividends Paid
NET FINANCING CASH FLOWS

NET CASH GENERATED/(USED)

Op. Cash Balance
Cl. Cash Balance

BUSINESS VALUATIONS & RATIOS

Gross Margin
Op. Margin
Net Margin

Investment per Share

ROE
BV pe Share
DPS
FCFE per Share
P/E
PROJECT FEASIBILITY
DIVIDENDS
Y0 (400)
Y1 -
Y2 57
Y3 175
Y4 298
Y5 Onwards 1,192
IRR 8.54%
NPV - DDM 43.0

DISCOUNTED CASH FLOWS

Y0 (477)
Y1 62
Y2 209
Y3 363
Y4 525
Y5 Onwards 2,100
IRR 34.0%
NPV - DCF 339

BUSINESS VALUATIONS
DDM 458
DCF 934
Average FV 792

Justified Price to Book 1.30

FV 518

FAIR VALUE OF THE BUSINESS 655

 FY 2025 FY 2024 FY 2023 FY 2022 FY 2021

800,000 800,000 800,000 800,000 800,000

375,000 375,000 375,000 375,000 375,000
25,000 25,000 25,000 25,000 25,000
250,000 250,000 250,000 250,000 250,000
150,000 150,000 150,000 150,000 150,000
2,100,000 1,575,000 1,050,000 525,000
500,000 500,000 500,000 500,000 500,000
4,200,000 3,675,000 3,150,000 2,625,000 2,100,000

35,875,982 23,396,148 13,033,876 4,715,215 1,292,142

35,875,982 23,396,148 13,033,876 4,715,215 1,292,142

40,075,982 27,071,148 16,183,876 7,340,215 3,392,142

10,000,000 10,000,000 10,000,000 10,000,000 10,000,000

1,375,000 1,375,000 1,375,000 1,375,000 1,375,000
4,125,000 4,125,000 4,125,000 4,125,000 4,125,000
34,575,982 21,571,148 10,683,876 1,840,215 (2,107,858)
40,075,982 27,071,148 16,183,876 7,340,215 3,392,142

- - - - -

- - - - -
- - - - -
40,075,982 27,071,148 16,183,876 7,340,215 3,392,142
- - - - -

177,485,794 127,325,658 80,393,230 36,407,606 2,546,776

(112,121,021) (81,318,680) (51,857,319) (23,691,921) (1,667,377)
65,364,773 46,006,977 28,535,911 12,715,685 879,399
(26,240,318) (18,348,393) (11,807,141) (6,416,484) (2,115,526)
(3,007,578) (2,323,082) (1,668,385) (1,042,487) (424,053)
(700,000) (650,000) (600,000) (500,000) (445,000)
35,416,877 24,685,502 14,460,385 4,756,714 (2,105,180)
 - - - - -
- - - - -
35,416,877 24,685,502 14,460,385 4,756,714 (2,105,180)
(6,020,869) (4,196,535) (2,458,265) (808,641) (2,678)
29,396,008 20,488,967 12,002,120 3,948,073 (2,107,858)
16,391,174 9,601,696 3,158,458
55,000 55,000 55,000 55,000 55,000
534.47 372.53 218.22 71.78 (38.3)

20,516,365 13,479,505 7,792,984 3,238,916 212,449

156,969,429 113,846,152 72,600,246 33,168,690 2,334,327
(112,121,021) (81,318,680) (51,857,319) (23,691,921) (1,667,377)
(26,240,318) (18,348,393) (11,807,141) (6,416,484) (2,115,526)
(3,007,578) (2,323,082) (1,668,385) (1,042,487) (424,053)
(700,000) (650,000) (600,000) (500,000) (445,000)
35,416,877 24,685,502 14,460,385 4,756,714 (2,105,180)
(6,020,869) (4,196,535) (2,458,265) (808,641) (2,678)
29,396,008 20,488,967 12,002,120 3,948,073 (2,107,858)

(525,000) (525,000) (525,000) (525,000) (2,100,000)

(525,000) (525,000) (525,000) (525,000) (2,100,000)

5,500,000

(16,391,174) (9,601,696) (3,158,458) - -

(16,391,174) (9,601,696) (3,158,458) - 5,500,000

12,479,835 10,362,271 8,318,662 3,423,073 1,292,142

23,396,148 13,033,876 4,715,215 1,292,142
35,875,982 23,396,148 13,033,876 4,715,215 1,292,142

36.83% 36.13% 35.50% 34.93% 34.53%

19.95% 19.39% 17.99% 13.07% -82.66%
16.56% 16.09% 14.93% 10.84% -82.77%

(400)
73.35% 75.69% 74.16% 53.79% -62.14%
729 492 294 133 62
298 175 57 - -
525 363 209 62 (77)
0.75 1.07 1.83 5.57 (10.44)