BAANI MILK PRODUCER COMPANY LIMITED

BALANCE SHEET

As at 31 March,
2020
Rupees
A.EQUITY AND LIABILITIES

1.Shareholders’ funds
(a)Share capital 120,994,400
(b)Reserves and surplus 156,135,159
Sub Total Equity 277,129,559
2.Share application money pending allotment 17,692,000
3.Deferred grant 39,475,179
4.Non - current liabilities
(a)Long term borrowings -
(b)Other long-term liabilities 31,605,621
(c)Long term provisions 1,822,963
Sub Total- Non Current Liability 33,428,584
5.Current liabilities
(a)Short term borrowings 749,741,897
(b)Trade payables
(i)Total outstanding dues of micro and small enterprises 82,400
(ii)Total outstanding dues of creditors other than micro and sm 176,433,686
(c)Other current liabilities 25,987,684
(d)Short - term provisions -
Sub Total- Current Liability 952,245,667
Total liabilities 1,319,970,989

B.ASSETS
1.Non - current assets
(a)Fixed assets
(i)Tangible assets 111,655,027
(ii) Intangible assets 3,136,078
(iii) Capital work in progress
Sub Total -Fixed Cost 114,791,105
(b)Deferred tax assets 1,230,844
(c)Long term loans and advances 4,679,219
(d)Other non-current assets 125,614
Sub Total- Non Current Assets 120,826,782
2.Current assets
(a)Inventories 29,355,015
(b)Trade receivables 925,106,204
(c)Cash and cash equivalents 233,451,383
(d)Short - term loans and advances 8,528,953
(e)Other current assets 2,702,652
Sub Total- Current Assets 1,199,144,207
Total Assets 1,319,970,989

VERTICAL ANALYSIS
A.EQUITY AND LIABILITIES As at 31 March,
2020
%
1.Shareholders’ funds
(a)Share capital 9.2%
(b)Reserves and surplus 11.8%
Sub Total Equity 21.0%
2.Share application money pending allotment 1.3%
3.Deferred grant 3.0%
4.Non - current liabilities
(a)Long term borrowings 0.0%
(b)Other long-term liabilities 2.4%
(c)Long term provisions 0.1%
Sub Total- Non Current Liability 2.5%
5.Current liabilities
(a)Short term borrowings 56.8%
(b)Trade payables 0.0%
(i)Total outstanding dues of micro and small enterprises 0.0%
(ii)Total outstanding dues of creditors other than micro and sm 13.4%
(c)Other current liabilities 2.0%
(d)Short - term provisions 0.0%
Sub Total- Current Liability 72.1%
Total liabilities 100.0%

B.ASSETS
1.Non - current assets
(a)Fixed assets
(i)Tangible assets 8.5%
(ii) Intangible assets 0.2%
(iii) Capital work in progress 0.0%
Sub Total -Fixed Cost 8.7%
(b)Deferred tax assets 0.1%
(c)Long term loans and advances 0.4%
(d)Other non-current assets 0.0%
Sub Total- Non Current Assets 9.2%
2.Current assets 0.0%
(a)Inventories 2.2%
(b)Trade receivables 70.1%
(c)Cash and cash equivalents 17.7%
(d)Short - term loans and advances 0.6%
(e)Other current assets 0.2%
Sub Total- Current Assets 90.8%
Total Assets 100.0%

HORIZONTAL ANALYSIS 2019-20 vs 2018-19

Change
A.EQUITY AND LIABILITIES

1.Shareholders’ funds
(a)Share capital 23,152,700
(b)Reserves and surplus 24,958,171
Sub Total Equity 48,110,871
2.Share application money pending allotment 7,008,800
3.Deferred grant (7,827,029)
4.Non - current liabilities
(a)Long term borrowings
(b)Other long-term liabilities 1,876,550
(c)Long term provisions (282,320)
Sub Total- Non Current Liability 1,594,230
5.Current liabilities
(a)Short term borrowings 313,131,984
(b)Trade payables
(i)Total outstanding dues of micro and small enterprises (411,960)
(ii)Total outstanding dues of creditors other than micro and sm (16,948,558)
(c)Other current liabilities 10,971,278
(d)Short - term provisions (1,879,528)
Sub Total- Current Liability 304,863,216
Total liabilities 353,750,088

B.ASSETS
1.Non - current assets
(a)Fixed assets
(i)Tangible assets (13,125,709)
(ii) Intangible assets (2,147,910)
(iii) Capital work in progress (144,689)
Sub Total -Fixed Cost (15,418,308)
(b)Deferred tax assets (1,184,038)
(c)Long term loans and advances 1,525,812
(d)Other non-current assets -
Sub Total- Non Current Assets (15,076,534)
2.Current assets
(a)Inventories 7,044,868
(b)Trade receivables 379,772,944
(c)Cash and cash equivalents (6,999,609)
(d)Short - term loans and advances 1,043,051
(e)Other current assets (2,034,632)
Sub Total- Current Assets 378,826,622
Total Assets 363,750,088

TREND ANALYSIS

A.EQUITY AND LIABILITIES

1.Shareholders’ funds
(a)Share capital 280%
(b)Reserves and surplus 620%
Sub Total Equity 405%
2.Share application money pending allotment 1409%
3.Deferred grant 62%
4.Non - current liabilities
(a)Long term borrowings 0%
(b)Other long-term liabilities
(c)Long term provisions 142%
Sub Total- Non Current Liability 44%
5.Current liabilities
(a)Short term borrowings 90%
(b)Trade payables
(i)Total outstanding dues of micro and small enterprises
(ii)Total outstanding dues of creditors other than micro and sm 137%
(c)Other current liabilities 44%
(d)Short - term provisions 0%
Sub Total- Current Liability 93%
Total liabilities 107%

B.ASSETS
1.Non - current assets
(a)Fixed assets
(i)Tangible assets 94%
(ii) Intangible assets 13%
(iii) Capital work in progress
Sub Total -Fixed Cost 81%
(b)Deferred tax assets 52%
(c)Long term loans and advances 67%
(d)Other non-current assets 3%
Sub Total- Non Current Assets 78%
2.Current assets
(a)Inventories 164%
(b)Trade receivables 115%
(c)Cash and cash equivalents 91%
(d)Short - term loans and advances 465%
(e)Other current assets 71%
Sub Total- Current Assets 111%
Total Assets 107%
As at 31 March, As at 31 March, As at 31 March, As at 31 March,
2019 2018 2017 2016
Rupees Rupees Rupees Rupees

97,841,700 86,926,500 76,101,700 43,172,000

131,176,988 85,949,721 41,867,909 25,181,642
229,018,688 172,876,221 117,969,609 68,353,642
10,683,200 8,696,700 5,804,100 1,255,300
47,302,208 53,340,909 68,002,480 64,005,332

- - 52,867,328 74,494,445
29,729,071 28,326,312 28,474,972
2,105,283 1,571,399 1,155,855 1,280,835
31,834,354 29,897,711 82,498,154 75,775,280

436,609,913 766,807,197 437,578,275 834,677,567

494,360 - - -
193,382,244 164,522,305 139,657,059 128,317,479
15,016,406 27,479,786 30,455,385 58,511,752
1,879,528 - - 5,196,096
647,382,451 958,809,288 607,690,720 1,026,702,894
966,220,901 1,223,620,829 881,965,063 1,236,092,448

124,780,736 117,260,733 130,617,993 118,332,398

5,283,988 16,665,496 24,725,955 23,645,954
144,689 480,686 2,920,080
130,209,413 134,406,915 158,264,028 141,978,352
2,414,882 1,184,688 1,844,643 2,363,063
3,153,407 5,333,774 8,380,405 6,952,390
125,614 - 34,577,316 4,225,000
135,903,316 140,925,377 203,066,392 155,518,805

22,310,147 19,021,151 19,405,110 17,855,623

545,333,260 838,041,704 484,613,882 801,723,283
240,450,992 214,271,198 161,167,216 255,336,981
7,485,902 4,953,077 10,266,479 1,833,365
4,737,284 6,408,322 3,445,984 3,824,391
820,317,585 1,082,695,452 678,898,671 1,080,573,643
956,220,901 1,223,620,829 881,965,063 1,236,092,448
 As at 31 March, As at 31 March, As at 31 March, As at 31 March,
2019 2018 2017 2016
% % % %

10.1% 7.1% 8.6% 3.5%

13.6% 7.0% 4.7% 2.0%
23.7% 14.1% 13.4% 5.5%
1.1% 0.7% 0.7% 0.1%
4.9% 4.4% 7.7% 5.2%

0.0% 0.0% 6.0% 6.0%

3.1% 2.3% 3.2% 0.0%
0.2% 0.1% 0.1% 0.1%
3.3% 2.4% 9.4% 6.1%

45.2% 62.7% 49.6% 67.5%

0.0% 0.0% 0.0% 0.0%
0.1% 0.0% 0.0% 0.0%
20.0% 13.4% 15.8% 10.4%
1.6% 2.2% 3.5% 4.7%
0.2% 0.0% 0.0% 0.4%
67.0% 78.4% 68.9% 83.1%
100.0% 100.0% 100.0% 100.0%

13.0% 9.6% 14.8% 9.6%

0.6% 1.4% 2.8% 1.9%
0.0% 0.0% 0.3% 0.0%
13.6% 11.0% 17.9% 11.5%
0.3% 0.1% 0.2% 0.2%
0.3% 0.4% 1.0% 0.6%
0.0% 0.0% 3.9% 0.3%
14.2% 11.5% 23.0% 12.6%
0.0% 0.0% 0.0% 0.0%
2.3% 1.6% 2.2% 1.4%
57.0% 68.5% 54.9% 64.9%
25.1% 17.5% 18.3% 20.7%
0.8% 0.4% 1.2% 0.1%
0.5% 0.5% 0.4% 0.3%
85.8% 88.5% 77.0% 87.4%
100.0% 100.0% 100.0% 100.0%

2019-20 vs 2018-19 2018-19 vs 2017-18 2017-18 vs 2016-27

% Change Change % Change Change % Change

24% 10,915,200 13% 10,824,800 14%

19% 45,227,267 53% 44,081,812 105%
21% 56,142,467 32% 54,906,612 47%
 66% 1,986,500 23% 2,892,600 50%
-17% (6,038,701) -11% (14,661,571) -22%
-
- (52,867,328) -100%
6% 1,402,759 5% (148,660) -1%
-13% 533,884 34% 415,545 36%
5% 1,936,643 6% (52,600,443) -64%

72% (330,197,284) -43% 329,228,922 75%

-83% 494,360
-9% 28,859,939 18% 24,865,245 18%
73% (12,463,380) -45% (2,975,600) -10%
-100% 1,879,528
47% (311,426,837) -32% 351,118,567 58%
37% (257,399,928) -21% 341,655,766 39%

-11% 7,520,003 6% (13,357,260) -10%

-41% (11,381,508) -68% (8,060,459) -33%
-100% (335,997) -70% (2,439,394) -84%
-12% (4,197,502) -3% (23,857,113) -15%
-49% 1,230,194 104% (659,956) -36%
48% (2,180,367) -41% (3,046,631) -36%
0% 125,614 (34,577,316) -100%
-11% (5,022,061) -4% (62,141,015) -31%

32% 3,288,996 17% (383,960) -2%

70% (292,708,444) -35% 353,427,822 73%
-3% 26,179,794 12% 53,103,982 33%
14% 2,532,825 51% (5,313,402) -52%
-43% (1,671,038) -26% 2,962,339 86%
46% (262,377,867) -24% 403,796,781 59%
38% (267,399,928) -22% 341,655,766 39%

227% 201% 176% 100%

521% 341% 166% 100%
335% 253% 173% 100%
851% 693% 462% 100%
74% 83% 106% 100%

0% 0% 71% 100%

164% 123% 90% 100%

42% 39% 109% 100%
52% 92% 52% 100%

151% 128% 109% 100%

26% 47% 52% 100%
36% 0% 0% 100%
63% 93% 59% 100%
78% 99% 71% 100%

105% 99% 110% 100%

22% 70% 105% 100%

92% 95% 111% 100%

102% 50% 78% 100%
45% 77% 121% 100%
3% 0% 818% 100%
87% 91% 131% 100%

125% 107% 109% 100%

68% 105% 60% 100%
94% 84% 63% 100%
408% 270% 560% 100%
124% 168% 90% 100%
76% 100% 63% 100%
77% 99% 71% 100%
 2016-17 vs 2015-16
Change % Change

32,929,700 76%
16,686,267 66%
49,615,967 73%
 4,548,800 362%
3,997,148 6%

(21,627,117) -29%
28,474,972
(124,980) -10%
6,722,875 9%

(397,099,291) -48%

11,339,581 9%
(28,056,366) -48%
(5,196,096) -100%
(419,012,174) -41%
(354,127,385) -29%

12,285,595 10%
1,080,001 5%
2,920,080
16,285,676 11%
(518,419) -22%
1,428,014 21%
30,352,316 718%
47,547,587 31%

1,549,488 9%
(317,109,401) -40%
(94,169,765) -37%
8,433,114 460%
(378,407) -10%
(401,674,971) -37%
(354,127,385) -29%
 BAANI MILK PRODUCER COMPANY LIMITED
STATEMENT OF PROFIT AND LOSS

Year ended 31
March, 2020
Rupees

Revenue from operations (net) 4,468,225,397

2. Other income 20,723,558
3. Total revenue (1+2) 4,488,948,955

4. EXPENSES
(a) Purchases of stock in trade 4,134,965,025
(b) Changes in inventories of stock-in-trade (7,911,722)
(c) Employee benefits expense 60,493,789
(d) Finance costs 29,912,494
(e) Depreciation and amortisation expense 12,047,839
(f) Other expenses 212,488,004
Total expenses 4,441,995,429

5. Profit before tax (3-4) 46,953,526

6. Tax expense:
(a) Current tax 11,800,000
(b) Deferred tax charge 1,184,038
(c) Income tax of earlier years written back (424,951)
Net tax expense 12,559,087

7. Profit for the year (5-6) 34,394,439

8. Earnings per equity share:

(Nominal value Rs. 100 per share)
(a) Basic 31.57
(b) Diluted 31.11
DUCER COMPANY LIMITED
OF PROFIT AND LOSS

Year ended 31 Year ended 31 Year ended 31 Year ended 31

March, 2019 March, 2018 March, 2017 March, 2016
Rupees Rupees Rupees Rupees

3,633,191,846 3,560,014,193 2,582,592,325 2,007,811,019

18,368,142 16,355,665 17,953,270 9,119,735
3,651,559,988 3,576,369,858 2,600,545,594 2,016,930,754

3,275,816,605 3,236,127,750 2,354,084,059 1,858,877,209

(4,451,833) 2,707,596 (1,470,990) (9,980,047)
50,341,381 46,036,216 43,740,423 35,024,311
43,194,634 45,868,659 48,595,373 21,715,731
17,999,806 12,774,369 15,687,841 13,345,623
187,939,672 155,234,449 113,904,203 82,576,477
3,570,840,265 3,498,749,039 2,574,540,908 2,001,559,304

80,719,723 77,620,819 26,004,686 15,371,450

28,800,000 25,600,000 8,800,000 4,550,000

(1,230,194) 659,956 518,419 356,875
(359,682) (48,482) -
27,210,124 26,211,474 9,318,419 4,906,875

53,509,599 51,409,345 16,686,267 10,464,575

57.20 66.37 33.54 58.14

57.03 66.14 33.53 58.13
RATIO ANALYSIS

20019-20 2018-19 2017-18

SOLVENCY RATIOS
DEBT EQUITY RATIO
BAANI 2.8 2.2 4.8
PAAYAS 0.9 1.1 1.3
MAAHI 0.6 1.0 1.2

LIABILITY TO EQUITY RATIO

BAANI 3.8 3.2 6.1
PAAYAS 1.7 2.1 2.2
MAAHI 1.6 1.8 2.2

INTEREST COVERAGE RATIO

BAANI 2.6 2.9 2.7
PAAYAS 4.3 7.1 5.3
MAAHI 5.2 13.2 9.0

LIQUIDITY RATIOS
CURRENT RATIO
BAANI 1.3 1.3 1.1
PAAYAS 1.6 1.5 1.5
MAAHI 1.7 1.5 1.5

QUICK RATIO
BAANI 1.2 1.2 1.1
PAAYAS 1.6 1.5 1.4
MAAHI 1.2 1.1 1.0

INVENTORY TURONVER RATIO

BAANI 159.8 158.3 168.6
PAAYAS 152.0 101.6 100.3
MAAHI 18.5 17.0 20.9

INVENTORY HOLDING DAYS

BAANI 2.3 2.3 2.2
PAAYAS 2.4 3.6 3.6
MAAHI 19.7 21.5 17.4

PROFITABILITY RATIOS
PROFIT MARGIN
BAANI 0.2% 0.4% 0.4%
PAAYAS 0.3% 0.9% 1.3%
 MAAHI 0.4% 1.3% 1.3%

ASSET TURNOVER RATIO

BAANI 3.9 3.4 3.4
PAAYAS 5.8 5.1 5.1
MAAHI 5.1 4.7 5.0

RETURN ON ASSET
BAANI 3.0% 4.9% 4.9%
PAAYAS 1.7% 4.7% 6.7%
MAAHI 2.2% 6.3% 6.4%

RETURN ON EQUITY
BAANI 13.6% 26.6% 35.4%
PAAYAS 4.9% 14.8% 23.8%
MAAHI 5.9% 18.9% 22.3%

EARNING PER SHARE

BAANI 31.6 57.2 66.4
PAAYAS 13.4 40.5 56.8
MAAHI 19.3 62.9 60.5
2016-17 2015-16

4.6 13.3
1.7 2.6
1.6 1.8

6.5 17.1
3.0 4.5
2.9 3.4

1.5 1.7
3.3 10.0
6.7 8.5

1.1 1.1
1.3 1.2
1.3 1.3

1.1 1.0
1.3 1.1
1.1 1.1

126.3 149.4
102.4 119.5
30.5 47.1

2.9 2.4
3.6 3.1
12.0 7.8

0.2% 0.1%
1.1% 1.5%
 1.5% 1.5%

2.5 2.8
4.6 5.3
4.8 5.1

1.6% 1.5%
4.8% 8.0%
7.1% 7.5%

17.9% 20.5%
22.1% 40.2%
29.5% 34.6%

33.5 58.1
47.1 76.3
66.7 51.2
RATIO FORMULA
As at 31
SOLVENCY March, 2020

LONG TERM DEBT -

OTHER LONG TERM LIABILITIES 31,605,621
SHORT TREM DEBT 749,741,897
TOTAL DEBT 781,347,518

EQUITY 277,129,559

DEBT EQUITY RATIO DEBT/EQUITY 2.82

TOTAL LIABILITY 1,042,841,430

EQUITY 277,129,559

LIABILITY TO EQUITY RATIO TOTAL LIABILITY/EQUITY 3.76

INTEREST 29912494
EBIT 76866020
INTEREST COVERAGE EBIT/INTEREST 2.57

LIQUIDITY RATIOS

CURRENT ASSETS 1,199,144,207

CURRENT LIABILITY 952,245,667

CURRENT RATIO CURRENT ASSET/CURRENT LIABILITY 1.26

CURRENT ASSET 1,199,144,207

INVENTORY 29355015
PREPAID EXP
CURRENT LIABILITY 952,245,667

QUICK RATIO (CA-INV-PE)/CL 1.23

INVENTORY
OPENING 22310147
CLOSING 29355015
AVERAGE 25832581

COGS 4127053303

INVENTORY TURONVER RATIO NET SALES/AVG INVENTORY 159.8

INVENTORY HOLDING DAYS 365/INVENTORY TURNOVER 2.28

PROFITABILITY RATIOS
NET PROFIT 34394439
NET SALES 17271047326
PROFIT MARGIN NET PROFIT/NET SALES 0.2%

ASSET TUROVER RATIO

NET SALES 4488948955

OPENING ASSET 956220901

CLOSING ASSET 1319970989
AVERAGE ASSET 1138095945

ASSET TUROVER RATIO NET SALES/AVG ASSETS 3.94

RETURN ON ASSET
NET PROFIT 34394439
AVERAGE ASSETS 1138095945

RETURN ON ASSET NET PROFIT/AVG ASSETS 3.0%

RETURN ON EQUITY

NET PROFIT 34394439

SHARE CAPPITAL 120994400

RETAINED EARNINGS 156135159
TOTAL EQUITY 277129559
OPENING EQUITY 229018688
AVERAGE EQUITY 253074123.5
RETURN ON EQUITY NET PROFIT/EQUITY 14%

EARNING PER SHARE

No of shares 1,209,944
NET PROFIT 34,394,439
EPS NET PROFIT/No of SHARES 32
 BAANI

As at 31 As at 31 As at 31 As at 31
March, 2019 March, 2018 March, 2017 March, 2016

29,729,071 28,326,312 81,342,300 74,494,445

29,729,071 28,326,312 28,474,972 -
436,609,913 766,807,197 437,578,275 834,677,567
496,068,055 823,459,820 547,395,547 909,172,011

229,018,688 172,876,221 117,969,609 68,353,642

2.17 4.76 4.64 13.30

737,202,213 1,050,744,609 763,995,455 1,167,738,806

229,018,688 172,876,221 117,969,609 68,353,642

3.22 6.08 6.48 17.08

43194634 45868658.55819 48595372.82 21715730.87

123914357 123489477.09369 74600058.834517 37087181.02078
2.87 2.69 1.54 1.71

820,317,585 1,082,695,452 678,898,671 1,080,573,643

647,382,451 958,809,288 607,690,720 1,026,702,894

1.27 1.13 1.12 1.05

820,317,585 1,082,695,452 678,898,671 1,080,573,643

22310147 19021150.92 19405110.48 17855622.98

647,382,451 958,809,288 607,690,720 1,026,702,894

1.23 1.11 1.09 1.04

19021150.92 19405110.48 17855622.98 6903436

22310147 19021150.92 19405110.48 17855623
20665648.96 19213130.7 18630366.73 12379529.49

3271364772 3238835345.3729 2352613069.07 1848897162.33

158.3 168.6 126.3 149.4

2.31 2.17 2.89 2.44

 53509599 51409344.836872 16686266.698966 10464575.180397
14295182263.204 12820561223.837 10621985300.185 8453073880.56
0.4% 0.4% 0.2% 0.1%

3651559988 3576369857.5529 2600545594.29 2016930753.84

1223620829.3482 881965063.20663 1236092448.3407 195753275

956220901 1223620829.3482 881965063.20663 1236092448.3407
1089920865.1741 1052792946.2774 1059028755.7737 715922861.67036

3.35 3.40 2.46 2.82

53509599 51409344.836872 16686266.698966 10464575.180397

1089920865.1741 1052792946.2774 1059028755.7737 715922861.67036

4.9% 4.9% 1.6% 1.5%

53509599 51409344.836872 16686266.698966 10464575.180397

97841700 86926500 76101700 43172000

131176988 85949720.535838 41867908.698966 25181642
229018688 172876220.53584 117969608.69897 68353642
172876220.53584 117969608.69897 68353642 33696563
200947454.26792 145422914.6174 93161625.349483 51025102.5
27% 35% 18% 21%

978,417
53,509,599 51,409,345 16,686,267 10,464,575
57 66 34 58
 PAAYAS

As at 31 As at 31 As at 31 As at 31 As at 31
March, 2020 March, 2019 March, 2018 March, 2017 March, 2016

117,682,196 107,831,200 102,523,013 96,591,974 86,612,091

898,207,709 941,049,494 955,408,952 946,471,192 989,892,434
1,015,889,905 1,048,880,694 1,057,931,965 1,043,063,166 1,076,504,525

1,090,028,301 985,977,945 814,348,957 599,578,357 408,822,920

0.93 1.06 1.30 1.74 2.63

1,870,123,956 2,022,745,424 1,805,062,661 1,810,414,706 1,829,259,321

1,090,028,301 985,977,945 814,348,957 599,578,357 408,822,920

1.72 2.05 2.22 3.02 4.47

31711264 33848434 60870553.9 72457143.23 22222413

137158585 241318205.85001 320024461.83 241199354.10813 221297089.03
4.33 7.13 5.26 3.33 9.96

2735801385 2727387019.14 2264242811.57 1951384904.03 1800314970.17

1662112710 1790640105.08 1532243709.41 1470716885.32 1502243760.8711

1.65 1.52 1.48 1.33 1.20

2,735,801,385 2,727,387,019 2,264,242,812 1,951,384,904 1,800,314,970

80965795 128800859.11 126291601.5 104839616.26 82485441.99

1,662,112,710 1,790,640,105 1,532,243,709 1,470,716,885 1,502,243,761

1.60 1.45 1.40 1.26 1.14

128800859.11 126291601.5 104839616.26 82485441.99 43931143

80965795 128800859.11 126291601.5 104839616.26 82485441.99
104883327.055 127546230.305 115565608.88 93662529.125 63208292.495

15939520671 12959730787.494 11587240768.507 9591030298.947 7555778571.67

152.0 101.6 100.3 102.4 119.5

2.40 3.59 3.64 3.56 3.05

 50874946 133336729.04 168395906.25487 111554336.61006 128946700.03
17271047326 14295182263.204 12820561223.837 10621985300.185 8453073880.56
0.3% 0.9% 1.3% 1.1% 1.5%

17271047326 14295182263.204 12820561223.837 10621985300.185 8453073880.56

3008723368.73 2619411617.62 2409993063.2 2238082241.01 976767170

2960152257 3008723368.73 2619411617.62 2409993063.2 2238082241.01
2984437812.865 2814067493.175 2514702340.41 2324037652.105 1607424705.505

5.79 5.08 5.10 4.57 5.26

50874946 133336729.04 168395906.25487 111554336.61006 128946700.03

2984437812.865 2814067493.175 2514702340.41 2324037652.105 1607424705.505

1.7% 4.7% 6.7% 4.8% 8.0%

50874946 133336729.04 168395906.25487 111554336.61006 128946700.03

417792700 374068400 338938900 307248400 228047300

672235601 611909544.96712 475410057.0268 292329956.97193 180775620
1090028301 985977944.96712 814348957.0268 599578356.97193 408822920
985977944.96712 814348957.0268 599578356.97193 408822920 233395041
1038003122.9836 900163450.99696 706963656.99936 504200638.48597 321108980.5
5% 15% 24% 22% 40%

13.38 40.475889948048 56.797759453491 47.131808488385 76.27

 MAAHI

As at 31 As at 31 As at 31 As at 31
March, 2020 March, 2019 March, 2018 March, 2017

173,866,328 169,615,586 159,686,172 132,332,136

578,732,289 926,978,889 952,815,188 986,888,498
752,598,617 1,096,594,475 1,112,501,360 1,119,220,634

1,163,864,691 1,144,229,726 921,920,975 717,524,633

0.65 0.96 1.21 1.56

1,813,157,803 2,074,211,353 2,018,497,049 2,079,769,665

1,163,864,691 1,144,229,726 921,920,975 717,524,633

1.56 1.81 2.19 2.90

21637522 25012430 35486388.87 47735471.681711

112400455 330631054.4 318334427.47 319578428.3474
5.19 13.22 8.97 6.69

2545914446.6422 2785317368 2546953786 2329513133.0074

1478430533 1808658314 1732385527.52 1782173732.82

1.72 1.54 1.47 1.31

2,545,914,447 2,785,317,368 2,546,953,786 2,329,513,133

802671213 763804133 795148563 455906926.94

1,478,430,533 1,808,658,314 1,732,385,528 1,782,173,733

1.18 1.12 1.01 1.05

763804133 795148563 455906926.94 232413859.09

802671213 763804133 795148563 455906926.94
783237673 779476348 625527744.97 344160393.015

14515696334 13256483892 13097117711.385 10503186543.14

18.5 17.0 20.9 30.5

19.69 21.46 17.43 11.96

 68050708 195464189.4 182552222.65109 177498023.23645
15864267805 14597622031 14447347536.765 11901663335.93
0.4% 1.3% 1.3% 1.5%

15864267805 14597622031 14447347536.765 11901663335.93

3218441079 2940418024.01 2797294298.482 2168527865.1437

2977022494 3218441079 2940418024.01 2797294298.482
3097731786.5 3079429551.505 2868856161.246 2482911081.8129

5.12 4.74 5.04 4.79

68050708 195464189.4 182552222.65109 177498023.23645

3097731786.5 3079429551.505 2868856161.246 2482911081.8129

2.2% 6.3% 6.4% 7.1%

68050708 195464189.4 182552222.65109 177498023.23645

324260300 347202100 324575700 306162800

839604391 797027626.4 597345274.67768 411361833.23645
1163864691 1144229726.4 921920974.67768 717524633.23645
1144229726.4 921920974.67768 717524633.23645 487763210.18047
1154047208.7 1033075350.5388 819722803.95706 602643921.70846
6% 19% 22% 29%

19.25 62.86 60.52 66.67

 As at 31
March, 2016

159,364,815
720,843,172
880,207,987

487,763,210

1.80

1,680,764,654
487,763,210

3.45

30207384.996292
257403096.68
8.52

1740695638.79
1361809874.6657

1.28

1,740,695,639
232413859.09

1,361,809,875

1.11

143670598
232413859.09
188042228.545

8849234092.97

47.1

7.76
 147690303.6837
10129165307
1.5%

10129165307

1775669431
2168527865.1437
1972098648.0719

5.14

147690303.6837
1972098648.0719

7.5%

147690303.6837

269186700
218576510.18047
487763210.18047
365509184
426636197.09024
35%

51.21
 BAANI MILK PRODUCER COMPANY LIMITED
BALANCE SHEET

As at 31 March,
2020
Rupees
A. EQUITY AND LIABILITIES

1. Shareholders’ funds
(a) Share capital 120,994,400
(b) Reserves and surplus 156,135,159
277,129,559

2. Share application money pending allotment 17,692,000

3. Deferred grant 39,475,179

4. Non - current liabilities

(a) Long term borrowings -
(b) Other long-term liabilities 31,605,621
(c) Long term provisions 1,822,963
33,428,584
5. Current liabilities
(a) Short term borrowings 749,741,897
(b) Trade payables
Total outstanding dues of micro and small 82,400
(i)
enterprises
Total outstanding dues of creditors other 176,433,686
(ii)
than micro and small enterprises
(c) Other current liabilities 25,987,684
(d) Short - term provisions -
952,245,667

Total 1,319,970,989

B. ASSETS

1. Non - current assets

(a) Fixed assets
(i) Tangible assets 111,655,027
(ii) Intangible assets 3,136,078
(iii) Capital work in progress
114,791,105
(b) Deferred tax assets 1,230,844
(c) Long term loans and advances 4,679,219
(d) Other non-current assets 125,614
120,826,782
2. Current assets
(a) Inventories 29,355,015
(b) Trade receivables 925,106,204
(c) Cash and cash equivalents 233,451,383
(d) Short - term loans and advances 8,528,953
(e) Other current assets 2,702,652
 1,199,144,207

Total 1,319,970,989
PANY LIMITED
T

As at 31 March, As at 31 March, As at 31 March, As at 31 March,

2019 2018 2017 2016
Rupees Rupees Rupees Rupees

97,841,700 86,926,500 76,101,700 43,172,000

131,176,988 85,949,721 41,867,909 25,181,642
229,018,688 172,876,221 117,969,609 68,353,642

10,683,200 8,696,700 5,804,100 1,255,300

47,302,208 53,340,909 68,002,480 64,005,332

- - 52,867,328 74,494,445
29,729,071 28,326,312 28,474,972
2,105,283 1,571,399 1,155,855 1,280,835
31,834,354 29,897,711 82,498,154 75,775,280

436,609,913 766,807,197 437,578,275 834,677,567

494,360 - - -

193,382,244 164,522,305 139,657,059 128,317,479

15,016,406 27,479,786 30,455,385 58,511,752

1,879,528 - - 5,196,096
647,382,451 958,809,288 607,690,720 1,026,702,894

966,220,901 1,223,620,829 881,965,063 1,236,092,448

124,780,736 117,260,733 130,617,993 118,332,398

5,283,988 16,665,496 24,725,955 23,645,954
144,689 480,686 2,920,080
130,209,413 134,406,915 158,264,028 141,978,352
2,414,882 1,184,688 1,844,643 2,363,063
3,153,407 5,333,774 8,380,405 6,952,390
125,614 - 34,577,316 4,225,000
135,903,316 140,925,377 203,066,392 155,518,805

22,310,147 19,021,151 19,405,110 17,855,623

545,333,260 838,041,704 484,613,882 801,723,283
240,450,992 214,271,198 161,167,216 255,336,981
7,485,902 4,953,077 10,266,479 1,833,365
4,737,284 6,408,322 3,445,984 3,824,391
820,317,585 1,082,695,452 678,898,671 1,080,573,643

956,220,901 1,223,620,829 881,965,063 1,236,092,448

 BAANI MILK PRODUCER COMPANY LIMITED
STATEMENT OF PROFIT AND LOSS

Year ended 31
March, 2020
Rupees

Revenue from operations (net) 4,468,225,397

2. Other income 20,723,558
3. Total revenue (1+2) 4,488,948,955

4. EXPENSES
(a) Purchases of stock in trade 4,134,965,025
(b) Changes in inventories of stock-in-trade (7,911,722)
(c) Employee benefits expense 60,493,789
(d) Finance costs 29,912,494
(e) Depreciation and amortisation expense 12,047,839
(f) Other expenses 212,488,004
Total expenses 4,441,995,429

5. Profit before tax (3-4) 46,953,526

6. Tax expense:
(a) Current tax 11,800,000
(b) Deferred tax charge 1,184,038
(c) Income tax of earlier years written back (424,951)
Net tax expense 12,559,087

7. Profit for the year (5-6) 34,394,439

8. Earnings per equity share:

(Nominal value Rs. 100 per share)
(a) Basic 31.57
(b) Diluted 31.11
DUCER COMPANY LIMITED
OF PROFIT AND LOSS

Year ended 31 Year ended 31 Year ended 31 Year ended 31

March, 2019 March, 2018 March, 2017 March, 2016
Rupees Rupees Rupees Rupees

3,633,191,846 3,560,014,193 2,582,592,325 2,007,811,019

18,368,142 16,355,665 17,953,270 9,119,735
3,651,559,988 3,576,369,858 2,600,545,594 2,016,930,754

3,275,816,605 3,236,127,750 2,354,084,059 1,858,877,209

(4,451,833) 2,707,596 (1,470,990) (9,980,047)
50,341,381 46,036,216 43,740,423 35,024,311
43,194,634 45,868,659 48,595,373 21,715,731
17,999,806 12,774,369 15,687,841 13,345,623
187,939,672 155,234,449 113,904,203 82,576,477
3,570,840,265 3,498,749,039 2,574,540,908 2,001,559,304

80,719,723 77,620,819 26,004,686 15,371,450

28,800,000 25,600,000 8,800,000 4,550,000

(1,230,194) 659,956 518,419 356,875
(359,682) (48,482) -
27,210,124 26,211,474 9,318,419 4,906,875

53,509,599 51,409,345 16,686,267 10,464,575

57.20 66.37 33.54 58.14

57.03 66.14 33.53 58.13
 BAANI MILK PRODUCER COMPANY LIMITED
CASH FLOW STATEMENT

Year ended
31 March, 2020
Rupees

A. CASH FLOW FROM OPERATING ACTIVITIES:

Profit before tax 46,953,526

Adjustments For :
Finance costs 29,864,596
Interest income (17,553,438)
Profit on sale of fixed assets (557,832)
Provision for employee benefits (1,940,630)
Depreciation and amortisation expense 12,047,839
Operating Profit before working capital changes 68,814,061

Adjustments for movement in working capital:

(Increase)/decrease in inventories (7,044,868)
(Increase)/decrease in trade receivables (379,772,945)
(Increase)/decrease in long term loans and advances (289,798)
(Increase)/decrease in short term loans and advances 615,258
(Increase)/decrease in other non-current assets
(Increase)/decrease in other current assets (28,892)
Increase in trade payables (17,360,517)
Increase in other current liabilities 7,350,967
Cash generated from operations (327,716,734)
Net income tax (paid) (14,490,689)
Net cash flow from/(used in) operating activities - (A) (342,207,423)

B. CASH FLOW FROM INVESTING ACTIVITIES:

Bank balances not considered as Cash and cash equivalents 12,528,104
Capital expenditure on fixed assets (net of capital grant received) (5,245,642)
Proceeds from sale of fixed assets 1,347,012
Interest received 19,616,962
Net cash flow (used in) investing activities - (B) 28,246,436

C. CASH FLOW FROM FINANCING ACTIVITIES:

Proceeds from issue of equity share capital 12,469,500
Share application money received 17,692,000
Proceeds from long term borrowings -
Repayment of long term borrowings
Net increase/(decrease) in working capital borrowings 313,131,984
Dividend Paid including dividend tax (9,379,372)
Finance costs paid (24,424,631)
Net cash flow from financing activities - (C) 309,489,481

Net increase in Cash and cash equivalents (A+B+C) (4,471,505)

Cash and cash equivalents at beginning of the year 14,643,559
Cash and Cash equivalents at the end of the year 10,172,054

Cash and cash equivalents comprises:

Cash in hand 34,351
Balances with banks:
- in current accounts 10,137,703
Cash and cash equivalents as per Cash Flow Statement 10,172,054
Add: Bank balances not considered as Cash and cash equivalent 223,279,329
Cash and bank balances as per Balance Sheet (Note 19) 233,451,383
OMPANY LIMITED
EMENT

Year ended Year ended Year ended Year ended

31 March, 2019 31 March, 2018 31 March, 2017 31 March, 2016
Rupees Rupees Rupees Rupees

80,719,723 77,620,819 26,004,686 15,371,450

43,120,388 45,495,652 48,529,114 21,496,257

(14,904,239) (13,129,166) (13,986,214) (7,399,391)
(561,479) (522,635) (440,391) (64,291)
1,027,752 212,869 (416,172) 662,575
17,999,806 12,774,369 15,687,841 13,345,623
127,401,951 122,451,908 75,378,863 43,412,223

(3,288,996) 383,960 (1,549,488) (10,952,187)

292,708,448 (353,427,822) 317,109,401 (794,308,108)
(494,749) 25,095 (329,279) (103,750)
(3,026,693) 5,516,079 (8,141,921) (979,054)
(125,614) 34,577,316 (30,352,316) (4,125,000)
53,495 (22,636) (4,080) (28,750)
29,354,299 24,865,245 11,339,581 56,824,762
(3,491,193) 11,949,923 1,201,396 16,005,199
439,090,948 (153,680,932) 364,652,157 (694,254,664)
(23,784,448) (22,529,982) (9,898,736) (16,431,616)
415,306,500 (176,210,914) 354,753,421 (710,686,280)

(39,556,789) (36,762,075) 13,180,715 (162,669,285)

(23,206,141) (7,873,111) (30,945,349) (90,249,452)
582,925 608,299 473,024 66,560
16,521,782 10,189,464 14,368,702 4,121,317
(45,658,223) (33,837,423) (2,922,908) (248,730,860)

2,218,500 5,020,700 31,674,400 27,516,537

10,683,200 8,696,700 5,804,100 1,255,300
- - - 81,235,591
(64,735,591) (14,896,044) (1,603,956)
(330,197,284) 329,228,922 (397,099,291) 834,677,567
(9,303,060) (6,558,821) (3,998,376) (498,442)
(46,426,626) (45,261,664) (54,304,351) (10,257,542)
(373,025,270) 226,390,245 (432,819,562) 932,325,055

(3,376,994) 16,341,909 (80,989,049) (27,092,085)

18,020,553 1,678,647 82,667,696 109,759,781
14,643,559 18,020,555 1,678,647 82,667,696
 319,356 152,755 27,689 70,361

14,324,203 17,867,798 1,650,958 82,597,335

14,643,559 18,020,553 1,678,647 82,667,696
235,807,433 196,250,645 159,488,570 172,669,285
250,450,992 214,271,197 161,167,216 255,336,981
 PAAYAS MILK PRODUCER COMPANY LIMITED
BALANCE SHEET

As at 31 March, 2020

Rupees
A. EQUITY AND LIABILITIES

1. Shareholders’ funds
(a) Share capital 417,792,700
(b) Reserves and surplus 672,235,601
1,090,028,301

2. Share application money pending allo 16,948,800

3. Deferred grant 73,380,250

4. Non - current liabilities

(a) Deferred tax liabilities (net)
(b) Other long-term liabilities 117,682,196
117,682,196
5. Current liabilities
(a) Short - term borrowings 898,207,709
(b) Trade payables
(i) Total outstanding dues of micro 6,636,331
and small enterprises
(ii) Total outstanding dues of 690,468,011
creditors other than micro and
small enterprises
(c) Other current liabilities 45,371,082
(d) Short - term provisions 21,429,576
1,662,112,710

Total 2,960,152,257

B. ASSETS

1. Non - current assets

(a) Property, plant and equipment
(i) Tangible assets 196,249,769
(ii) Intangible assets 942,188
(iii) Capital work-in-progress -
197,191,957
(b) Deferred tax assets (net) 957,447
(c) Long - term loans and advances 26,201,468
224,350,872
2. Current assets
(a) Inventories 80,965,795
(b) Trade receivables 1,612,442,547
(c) Cash and cash equivalents 1,007,050,619
(d) Short - term loans and advances 12,858,557
(e) Other current assets 22,483,866
 2,735,801,385

Total 2,960,152,257
R COMPANY LIMITED
SHEET

As at 31 March, 2019 As at 31 March, 2018 As at 31 March, 2017

Rupees Rupees Rupees

374,068,400 338,938,900 307,248,400

611,909,545 475,410,057 292,329,957
985,977,945 814,348,957 599,578,357

19,516,650 5,919,000 5,376,300

104,393,894 161,962,132 233,972,742

363,575 2,414,807 3,756,805

107,831,200 102,523,013 96,591,974
108,194,775 104,937,820 100,348,779

941,049,494 955,408,952 946,471,192

- - -

701,839,773 512,929,143 484,004,093

147,750,838 47,902,691 40,241,600

- 16,002,923 -
1,790,640,105 1,532,243,709 1,470,716,885

3,008,723,369 2,619,411,618 2,409,993,063

242,792,230 263,191,405 317,732,339

15,964,540 48,903,056 89,094,819
- 35,825,550 44,334,363
258,756,770 347,920,011 451,161,521
-
22,579,580 7,248,795 7,446,638
281,336,350 355,168,806 458,608,159

128,800,859 126,291,602 104,839,616

1,526,480,773 1,435,515,143 1,089,085,709
1,021,172,816 647,514,942 734,242,382
28,392,285 44,990,928 19,825,558
22,540,286 9,930,197 3,391,639
 2,727,387,019 2,264,242,812 1,951,384,904

3,008,723,369 2,619,411,618 2,409,993,063

As at 31 March, 2016

Rupees

228,047,300
180,775,620
408,822,920

10,250,800

225,583,738

4,568,931
86,612,091
91,181,022

989,892,434

420,014,274

49,442,062
42,894,991
1,502,243,761

2,238,082,241

303,977,060
64,448,644
63,707,964
432,133,669

5,633,602
437,767,271

82,485,442
1,086,822,743
611,504,641
17,228,117
2,274,027
 1,800,314,970

2,238,082,241
 PAAYAS MILK PRODUCER COMPANY LIM
STATEMENT OF PROFIT AND LOSS

Year ended 31
March, 2020
Rupees

Revenue from operations (net) 17,208,916,896

2. Other income 62,130,430
3. Total revenue (1+2) 17,271,047,326

4. EXPENSES
(a) Cost of materials consumed -
(b) Purchases of traded goods 15,891,685,607
(c) Changes in inventories of finished goods & stock-in-trade 47,835,064

(d) Employee benefits expense 122,159,778

(e) Finance costs 31,711,264
(f) Depreciation and amortisation expense 30,972,716
(g) Other expenses 1,041,235,575
Total expenses 17,165,600,005

5. Profit before tax (3-4) 105,447,321

6. Tax expense:
(a) Current tax 29,000,000
(b) Minimum alternate tax (MAT) credit
(b) Deferred tax charge/(credit) (2,051,233)
(c) Short provisions pertaining to earlier years 26,893,397
Net tax expense 54,572,375

7. Profit for the year (5-6) 50,874,946

8. Earnings per equity share:

(Nominal value Rs. 100 per share)
(a) Basic 13.38
(b) Diluted 13.38
PRODUCER COMPANY LIMITED
NT OF PROFIT AND LOSS

Year ended 31 Year ended 31 Year ended 31 Year ended 31

March, 2019 March, 2018 March, 2017 March, 2016
Rupees Rupees Rupees Rupees

14,231,475,635 12,786,356,755 10,590,927,224 8,427,938,193

63,706,628 34,204,469 31,058,076 25,135,688
14,295,182,263 12,820,561,224 10,621,985,300 8,453,073,881

- - 33,868,879 182,659,671
12,962,240,045 11,609,200,619 9,579,671,873 7,417,139,436
(2,509,258) (21,959,851) (22,510,453) (44,020,535)

97,079,014 84,059,329 83,932,942 68,683,635

33,848,434 60,870,554 72,457,143 22,222,413
35,889,748 34,324,508 33,728,200 34,143,100
961,164,508 794,912,157 672,094,505 573,171,485
14,087,712,491 12,561,407,316 10,453,243,089 8,253,999,205

207,469,772 259,153,908 168,742,211 199,074,676

76,000,000 92,100,000 58,000,000 71,000,000

- -
(2,051,233) (1,341,998) (812,126) (872,024)
184,276 -
74,133,043 90,758,002 57,187,874 70,127,976

133,336,729 168,395,906 111,554,337 128,946,700

40.48 56.80 47.13 76.27

40.47 56.79 47.13 76.25
 PAAYAS MILK PRODUCER COM
CASH FLOW STATEM

Year ended
31 March, 2020
Rupees
A. CASH FLOW FROM OPERATING ACTIVITIES:
Profit before tax 105,447,321

Adjustments For :
Finance costs 31,692,511
Interest income (50,795,146)
Depreciation and amortization expense 30,972,716
Profit on recovery/sale of property, plant and equipment (2,871,762)
Operating Profit before working capital changes 114,445,641

Adjustments for movement in working capital:

Decrease/(increase) in inventories 47,835,064
Decrease/(increase) in trade receivables (85,961,774)
Decrease/(increase) in other current assets
Decrease/(increase) in long term loans and advances (3,637,313)
Decrease/(increase) in short term loans and advances 15,533,728
(Decrease)/increase in other long term liabilities 9,850,996
(Decrease)/increase in trade payables (4,735,431)
(Decrease)/increase in provisions 117,558
(Decrease)/increase in other current liabilities (109,422,418)
Cash generated from/(used in) operations (15,973,949)
Net income taxes (paid)/refund (34,565,954)
Net cash flow from/(used in) operating activities (A) (50,539,903)

B. CASH FLOW FROM INVESTING ACTIVITIES:

Decrease/(increase) in bank balances not considered as cash and (449,150,094)
cash equivalents
Capital expenditure on property, plant and equipment (net of capital (705,798)
grant received)
Interest received 50,851,567
Proceeds from recovery/sale of property, plant and equipment 3,156,012
Net cash flow from/(used in) investing activities (B) (395,848,313)

C. CASH FLOW FROM FINANCING ACTIVITIES:

Proceeds from issue of share capital 24,207,650
Share application money received 16,948,800
Proceeds from security premium 45,527,850
Net increase/(decrease) in working capital borrowings (42,841,785)
Dividend Paid including dividend tax (36,076,741)
Finance costs paid (24,649,849)
Net cash flow from/(used in) financing activities (C) (16,884,075)

Net increase/(decrease) in Cash and cash equivalents (463,272,291)

(A+B+C)
Cash and cash equivalents at beginning of the year 798,514,421
Cash and cash equivalents at the end of the year 335,242,130

Components of Cash and cash equivalents as at:

Balances with banks:
in current accounts 40,702,194
in deposit accounts 294,539,936
Cash and cash equivalents as per Cash Flow Statement 335,242,130
Add: Bank balances not considered as Cash and cash equivalent 671,808,489
Cash and bank balances as per Balance Sheet 1,007,050,619
ILK PRODUCER COMPANY LIMITED
CASH FLOW STATEMENT

Year ended Year ended Year ended

31 March, 2019 31 March, 2018 31 March, 2017
Rupees Rupees Rupees

207,469,772 259,153,908 168,742,211

33,845,682 59,734,310 72,432,002

(48,354,984) (21,659,296) (18,215,465)
35,889,748 34,324,508 33,728,200
(2,685,496) 150,290 -
226,164,722 331,703,720 256,686,948

(2,509,258) (21,451,985) (22,354,174)

(90,965,630) (346,429,434) (2,262,966)
64,728 (64,728) -
(5,248,095) 197,843 (419,546)
16,598,643 (25,165,370) 1,034,903
5,308,187 5,931,039 9,979,883
188,910,630 28,925,050 63,989,818
- - -
101,751,637 3,301,644 6,196,604
440,075,566 (23,052,222) 312,851,469
(102,269,888) (76,097,077) (78,473,604)
337,805,678 (99,149,299) 234,377,865

(13,191,134) (15,289,049) 12,355,356

(4,470,198) (3,243,898) (44,367,047)

35,680,166 15,185,466 17,097,854

2,860,949 -
20,879,782 (3,347,481) (14,913,837)

29,210,500 26,314,200 68,950,300

19,516,650 5,919,000 5,376,300
39,937,550 44,267,950 -
(14,359,458) 8,937,760 (43,421,242)
(36,774,791) (29,583,756) (32,047,961)
(35,749,172) (55,374,862) (83,228,328)
1,781,279 480,292 (84,370,931)

360,466,740 (102,016,488) 135,093,096

438,047,681 540,064,169 404,971,073

 798,514,421 438,047,681 540,064,169

212,344,762 103,896,437 438,246,241

586,169,659 334,151,244 101,817,928
798,514,421 438,047,681 540,064,169
222,658,395 209,467,261 194,178,213
1,021,172,816 647,514,942 734,242,382
 Year ended
31 March, 2016
Rupees

199,074,676

21,018,532
(17,390,780)
34,143,100

236,845,529

(38,554,299)
(836,800,793)
(3,636,691)
(13,044,851)
-
101,149,059
(319,420)

(38,283,320)
(592,644,786)
(59,128,632)
(651,773,418)

(16,961,289)

(104,469,823)
21,291,885
(100,139,227)

73,928,400
10,250,800

989,892,434
(7,850,613)
(6,186,333)
997,074,688

245,162,043

159,809,030
404,971,073

290,707,541
114,263,532
404,971,073
206,533,568
611,504,641
 MAAHI MILK PRODUCER COMPANY LIMITE
STATEMENT OF PROFIT AND LOSS

Year ended 31
March, 2020
Rupees

1. Revenue from operations 15,768,847,577

2. Other income 95,420,228
3. Total revenue (1+2) 15,864,267,805

4. EXPENSES
(a) Cost of materials consumed 7,163,204,049
(b) Purchases of traded goods 7,537,465,030
(c) Changes in inventories of finished (184,972,745)
(d) goods
Employee benefits expense 220,475,342
(e) Finance costs 21,637,522
(f) Depreciation and amortization expense 44,509,711
(g) Other expenses 971,185,963
Total expenses 15,773,504,872

5. Profit before tax (3-4) 90,762,933

6. Tax expense:
(a) Current tax 23,300,000
(b) Short/(excess) provision for tax relatin (2,738,981)
(c) Deferred tax charge 2,151,206
(c) Short/(Excess) provision for tax relati -
Net tax expense 22,712,225

7. Profit for the year (5-6) 68,050,708

8. Earnings per equity share:

(Nominal value Rs. 100 per share)
(a) Basic 19.25
(b) Diluted 18.94
I MILK PRODUCER COMPANY LIMITED
TATEMENT OF PROFIT AND LOSS

Year ended 31 Year ended 31 Year ended 31 Year ended 31

March, 2019 March, 2018 March, 2017 March, 2016
Rupees Rupees Rupees Rupees

14,492,624,301 14,368,791,328 11,773,815,331 10,060,571,898

104,997,730 78,556,209 127,848,005 68,593,409
14,597,622,031 14,447,347,537 11,901,663,336 10,129,165,307

5,676,612,086 6,454,086,744 4,959,238,313 4,798,159,974

7,328,569,217 7,024,555,798 5,521,647,557 4,106,199,173
251,302,589 (381,524,830) 22,300,673 (55,125,054)
180,233,951 163,553,353 174,110,923 154,179,711
25,012,430 35,486,389 47,735,472 30,207,385
56,218,123 64,887,455 54,822,578 34,412,277
774,055,011 803,454,590 849,964,862 833,936,129
14,292,003,407 14,164,499,498 11,629,820,379 9,901,969,595

305,618,624 282,848,039 271,842,957 227,195,712

106,000,000 107,100,000 99,500,000 74,700,000

2,754,450 - -
1,399,985 (6,804,183) (5,155,066) 4,805,408
- -
110,154,435 100,295,817 94,344,934 79,505,408

195,464,189 182,552,223 177,498,023 147,690,304

62.86 60.52 66.67 51.21

62.86 60.52 66.67 51.21
 MAAHI MILK PRODUCER COM
BALANCE SHEET

A. EQUITY AND LIABILITIES

1. Shareholders’ funds
(a) Share capital
(b) Reserves and surplus

2. Share application money pending allotment

3. Deferred grant

4. Non - current liabilities

(a) Deferred tax liabilities (net)
(a) Other long-term liabilities
(b) Long - term provisions

5. Current liabilities
(a) Short - term borrowings
(b) Trade payables
(i) Total outstanding dues of micro
enterprises and small
enterprises
(ii) Total outstanding dues of
creditors other than micro
enterprises and small
enterprises
(c) Other current liabilities
(d) Short - term provisions

Total

B. ASSETS

1. Non - current assets

(a) Property, Plant and Equipment
(i) Tangible assets
(ii) Intangible assets
(iii) Capital work-in-progress

(b) Deferred tax assets (net)

(c) Long - term loans and advances
(d) Other non-current assets
2. Current assets
(a) Inventories
(b) Trade receivables
(c) Cash and cash equivalents
(d) Short - term loans and advances
(e) Other current assets

Total
AHI MILK PRODUCER COMPANY LIMITED
BALANCE SHEET

As at 31 March, As at 31 March, As at 31 March, As at 31 March,

2020 2019 2018 2017
Rupees Rupees Rupees Rupees

324,260,300 347,202,100 324,575,700 306,162,800

839,604,391 797,027,626 597,345,275 411,361,833
1,163,864,691 1,144,229,726 921,920,975 717,524,633

74,488,050 270,750 644,250 9,906,500

84,276,463 95,666,703 116,967,423 143,176,170

- - -
173,866,328 169,615,586 159,686,172 132,332,136
2,096,429 - 8,813,676 12,181,127
175,962,757 169,615,586 168,499,848 144,513,263

578,732,289 926,978,889 952,815,188 986,888,498

17,597,585 14,392,136 - -

779,585,299 790,534,796 677,975,250 712,734,570

89,281,872 65,090,109 99,674,903 82,550,665

13,233,488 11,662,384 1,920,187 -
1,478,430,533 1,808,658,314 1,732,385,528 1,782,173,733

2,977,022,494 3,218,441,079 2,940,418,024 2,797,294,298

369,956,027 397,967,025 346,321,516 382,886,603

- 67,071 4,587,731 10,469,789
941,882 1,746,122 5,776,048 35,280,364
370,897,909 399,780,218 356,685,295 428,636,756
6,770,954 8,922,160 10,322,145 3,517,961
53,439,184 24,421,333 26,456,798 35,409,538
- - 216,910
431,108,047 433,123,711 393,464,238 467,781,165
 802,671,213 763,804,133 795,148,563 455,906,927
665,359,566 407,938,164 236,235,067 456,537,666
1,060,787,693 1,583,527,933 1,471,747,176 1,363,276,490
11,549,117 11,391,437 10,778,982 31,352,838
5,546,858 18,655,701 33,043,998 22,439,212
2,545,914,447 2,785,317,368 2,546,953,786 2,329,513,133

2,977,022,494 3,218,441,079 2,940,418,024 2,797,294,298

As at 31 March,
2016
Rupees

269,186,700
218,576,510
487,763,210

674,700

149,514,422

1,637,104
159,364,815
7,763,739
168,765,658

720,843,172

546,052,971

62,515,054
32,398,678
1,361,809,875

2,168,527,865

310,886,007
14,705,251
78,110,501
403,701,759
-
23,930,466
200,000
427,832,225
 232,413,859
447,290,090
1,034,362,586
13,245,130
13,383,974
1,740,695,639

2,168,527,865
 MAAHI MILK PRODUCER COMPANY LIMITED
CASH FLOW STATEMENT

Year ended Year ended

31 March, 2020 31 March, 2019
Rupees Rupees
A. CASH FLOW FROM OPERATING ACTIVITIES:
Profit before tax 90,762,933 305,618,624

Adjustments for :
Finance costs 20,907,293 23,533,610
Interest income (92,710,701) (90,980,162)
Provision for employee b 7,677,790 (1,161,549)
Provision for doubtful de 106,019 -
Loss / (Profit) on sale 184,833 (3,595,404)
Depreciation and amorti 44,509,711 56,218,123
Operating profit before 71,437,878 289,633,242

Adjustments for movement in working capital:

(Increase)/Decrease in i (38,867,080) 31,344,430
(Increase)/Decrease in t (257,527,421) (171,703,097)
(Increase)/Decrease in 405,037 (4,118,632)
Decrease in short term (157,680) (612,455)
Decrease in other non-c - -
Increase in other long-te 4,250,742 9,929,414
Increase/(Decrease) in (7,744,048) 126,951,682
Increase/(Decrease) in ot 26,104,290 (10,691,679)
(Decrease)/Increase in short term provisions -
Cash generated from op (202,098,282) 270,732,905
Net income tax paid (53,994,164) (100,510,283)
Net cash flow from opera (256,092,446) 170,222,622

B. CASH FLOW FROM INVESTING ACTIVITIES:

Purchase of property, (34,923,172) (164,674,505)
plant and equipment
(including capital work in
progress)
Proceeds from sale of pro 3,793,155 21,660,915
Capital grant received 1,237,274 490,591
(for purchase of
property, plant and
equipment)
Decrease in bank 298,349,674 26,419,463
balances not considered
as Cash and cash
equivalents
Interest received 105,819,544 105,368,459
Net cash flow from/(used 374,276,475 (10,735,077)

C. CASH FLOW FROM FINANCING ACTIVITIES:

Proceeds from issue of sha (23,212,550) 21,982,150
Share application money 74,488,050 270,750
Security premium receive 8,011,700 39,434,550
Repayment of long term borrowings -
Dividend paid (including d (33,461,915) (35,112,530)
Finance costs paid (20,153,281) (23,533,610)
Decrease in working capit (348,246,600) (24,328,636)
Net cash flow used in fi (342,574,596) (21,287,326)

Net increase in Cash a (224,390,566) 138,200,219

Cash and cash equivalents 580,903,159 442,702,939
Cash and cash equivalen 356,512,593 580,903,159

Components of Cash and cash equivalents as at:

Cash on hand 52,600 46,908
Balances with banks:
-in current accounts 356,459,993 480,856,251
-Cheque/Draft on Hand
-in deposit accounts - 100,000,000
Cash and cash equivalent 356,512,593 580,903,159
Deposits (original maturi 200,000,000 300,191,909
Balances held as security 501,818,507 700,000,000
In earmarked accounts
- Unpaid dividend account 2,456,593 2,432,865
Cash and cash equivale 1,060,787,693 1,583,527,933
ODUCER COMPANY LIMITED
LOW STATEMENT

Year ended Year ended Year ended

31 March, 2018 31 March, 2017 31 March, 2016
Rupees Rupees Rupees

282,848,039 271,842,957 227,195,712

33,762,593 47,735,472 30,207,385

(76,803,867) (78,217,820) (65,668,584)
(2,140,206) 4,417,388 (6,288,620)
- -
667,057 (365,227) (5,063)
64,887,455 54,822,578 34,412,277
303,221,070 300,235,348 219,853,107

(339,241,636) (223,493,068) (88,743,261)

220,302,600 (9,247,576) (440,340,911)
(274,505) 4,582,331 (7,749,531)
20,573,856 (18,107,708) (8,485,761)
216,910 (16,910) (50,000)
27,354,036 (27,032,679) -
(34,759,321) 166,681,599 (72,833,718)
(1,459,955) 8,205,912 62,232,184
- -
195,933,055 201,807,248 (336,117,891)
(97,179,813) (115,561,402) (136,498,375)
98,753,241 86,245,845 (472,616,266)

(9,085,148) (131,254,964) (153,927,766)

3,316,254 950,999 26,000

8,420,433 55,089,232 95,359,131

(77,051,646) (137,526,669) (287,392,382)

66,199,081 69,162,582 56,709,867

(8,201,025) (143,578,820) (289,225,150)
 8,506,400 36,301,400 6,962,400
644,250 9,906,500 674,700
36,595,350 15,287,300 -
- -
(33,047,663) (32,094,728) (29,652,110)
(37,758,202) (46,725,589) (27,221,659)
(34,073,310) 266,045,325 270,750,633
(59,133,175) 248,720,208 221,513,964

31,419,041 191,387,234 (540,327,453)

411,283,897 219,896,664 760,224,117
442,702,939 411,283,897 219,896,664

53,355 106,535 55,219

442,649,584 399,984,540 219,841,445

- 11,192,824 -
- - -
442,702,939 411,283,899 219,896,664
323,720,929 349,784,884 212,559,923
703,000,000 600,000,000 600,000,000

2,323,308 2,207,707 1,905,999

1,471,747,176 1,363,276,490 1,034,362,586