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Horizontal Analysis of Income Statement

2007
2006
% Age Change
Sales - net
28,235,393 22,030,958
28.16
Cost of goods sold
20,291,270 15,778,330
28.60
Gross profit
7,944,123
6,252,628
27.05
Distribution and selling expenses
3,538,669
2,925,118
20.98
Administration expenses
894,309
687,092
30.16
Operating profit
3,511,145
2,640,418
32.98
Finance cost
584,434
447,774
30.52
Other operating expenses
442,914
245,150
80.67
Other operating income
Profit before taxation
Taxation
Profit after taxation

65,959
2,549,756
744,544
1,805,212

57,961
2,005,455
642,165
1,363,290

return on equity
return on investment

asset turnover

1.09

1.05

13.80
27.14
15.94
32.42

28.14

28.38

12.44

11.99

9.03

9.1

6.39

6.19

43.9
29.36

53.86

1,629,853

17.48

Issued, subscribed and paid up capital


Share premium
General reserve
Accumulated profit
Non current liabilities
Long term finances
Deferred taxation
Retirement benefits
Liabilities against assets subject to finance lease
Current liabilities
Current portion of:
Long term finances
Liabilities against assets subject to finance lease
Short term borrowings - secured
Short term running finance under mark-up arrangements - secured
Customer security deposits - interest free
Trade and other payables
Interest and mark-up accrued

ASSETS
Tangible fixed assets
Property, plant and equipment
Capital work-in-progress
Intangible assets
Long term loans and advances
Long term security deposits
Current assets
Stores and spares
Stock in trade
Trade debts
Current portion of long term loans and advances
Advances, deposits, prepayments and other receivables
Cash and bank balances

2007
2006 Difference
453,496
453,496
0
249,527
249,527
0
280,000
280,000
0
3,128,682 1,548,057 1,580,625
4,111,705 2,531,080 1,580,625
5,062,160 -5,062,160
4,028,700 3,963,700
65,000
1,371,675
942,858
428,817
238,370
234,305
4,065
119,602
31,471
88,131
5,758,347 5,172,334 586,013
0
0
0
300,000
-300,000
29,863
8,392
21,471
1,035,000
700,000
335,000
1,637,799 1,817,711 -179,912
124,572
102,307
22,265
3,062,027 2,197,529 864,498
89,261
98,549
-9,288
5978522
5224488
754,034
0
0
0
0
9,074,428 6,986,049 2,088,379
971,183 1,107,052 -135,869
10,045,611 8,093,101 1,952,510
92,382
135,020
-42,638
80,670
66,008
14,662
6,088
6,088
0
0
436,573
329,346
107,227
2,393,306 1,907,300
486,006
344,053
238,291
105,762
21,279
8,771
12,508
2,022,387 2,109,314
-86,927
406,225
34,663
371,562
4,627,685 -4,627,685
25,894,185 21,021,003 4,873,182
0
0
0.89
-1
0.05

% Age Change
0
0
0
102.10
62.45
325933
-100.00
8.09
1.64
1.33
45.48
9,325,860
1.73
280.04
11.33

-100.00
255.85
47.86
-9.90
21.76
39.34
-9.42
14.43
#DIV/0!

29.89
-12.27
24.13
-31.58
22.21
0.00
32.56
25.48
44.38
142.61
-4.12
1071.93

Sales - net

2007
2006
34,183,847 28,235,393 22,030,958

Cost of goods sold


Gross profit
Distribution and selling expenses
Administration expenses
Operating profit
Finance cost
Other operating expenses

25,231,532
8,952,315
3,890,352
956,816
4,105,147
557,325
1,382,138

20,291,270 15,778,330
7,944,123 6,252,628
3,538,669 2,925,118
894,309
687,092
3,511,145 2,640,418
584,434
447,774
442,914
245,150

Other operating income


Profit before taxation
Taxation
Profit after taxation

61,800 65,959
2,227,484 2,549,756
674,590 744,544
1,552,894 1,805,212

Asset turnover Ratio


Cost of good manufactured per day

2.05
84105.11

1.78
67617.14

1.70
52594.43

4.59
4.88
7.37

12.10
4.45
6.01

7.60
3.95
5.90

3.17
2.80
34.24
29.94

2.48
2.85
39.81
45.21

2.11
4.11
30.06
34.76

2.44
73.01

0.56
25.12

0.48
16.63

Days inventory Maintained


Days Recievable
Time interest Earned
Debt Service Coverage Ratio Without dep
Debt Security coverage Ratio
Debt Equity Ratio
Eps
P/E Ratio
Dividend Rate
Dividend Yeild

57,961
2,005,455
642,165
1,363,290

2008
2007
(Rupees in 000)

EQUITY AND LIABILITIES


Share Capital and Reserves
Issued, subscribed and paid up capital
Share premium
General reserve
Accumulated profit

453,496
249,527
280,000
3,405,824
4,388,847

453,496 453,496
249,527 249,527
280,000 280,000
3,128,682 1,548,057
4,111,705 2,531,080

Non current liabilities


Long term finances
5,139,875 4,028,700
Deferred taxation
1,319,333 1,371,675
Retirement benefits
351,968
238,370
Liabilities against assets subject to finance lease
177,582
119,602
6,988,758 5,758,347
Current liabilities
Liabilities against assets subject to finance lease54,042
29,863
Short term borrowings secured
300,000 1,035,000
Short term running finance under markup arrangements
1,924,287 1,637,799
secured
Customer security deposits interest free
127,884
124,572
Trade and other payables
2,798,185 3,062,027
Interest and markup accrued
102,173
89,261
5,306,571 5,978,522
12,295,329 11,736,869

3,963,700
942,858
234,305
31,471
5,172,334
300,000
8,392
700,000
1,817,711
102,307
2,197,529
98,549
5,224,488
10,396,822

ASSETS
Tangible fixed assets
Property, plant and equipment
Capital workinprogress
Intangible assets
Long term loans and advances
Long term security deposits

9,464,373 9,074,428
1,382,401
971,183
49,744
92,382
98,544
80,670
5,036
6,088
11,000,098 10,224,751

6,986,049
1,107,052 10,846,774 10,045,611
135,020
66,008
6,088
8,300,217

Current assets
Stores and spares
804,647
436,573
329,346
Stock in trade
2,488,573 2,393,306 1,907,300
Trade debts
456,813
344,053
238,291 3,750,033 3,173,932
Current portion of long term loans and advances26,615
21,279
8,771
Advances, deposits, prepayments and other 1,488,103
receivables 2,022,387 2,109,314 14,596,807 13,219,543
Cash and bank balances
419,327
406,225
34,663
5,684,078 5,623,823 4,627,685
16,684,176 15,848,574 12,927,902

8,093,101

2,474,937
10,568,038