Pakistan Refinery Limited Balance Sheet june 30, 2015 vo aot (Rupees in thousand) ASSETS Non-current asset Fixed assets 3 12,118,199 7,407,267 Intangible assets 4 = - Investment in associate 5 91,470 89,757 Long-term loans and advances 6 4,496 2,666 Long-term deposits 7 21,592 51,543 Deferred taxation 8 456,366 = 12,692,123 7,551,233 Current assets Stores, spares and chemicals 9 210,495 259,626, Stock-in-trade 10 5,516,120 | | 9,673,473 Trade debts it 6,230,785 | | 8,587,612 Loans and advances 12 13,807 31,742 ‘Trade deposits and short-term prepayments, 13 35,487 13,620 Other receivables 14 2,504,624 61,222 ‘Taxation - payments less provision 735,006 372,499 Cash and bank balances 15 2,814,526 | |_ 2,267,864 78,060, 21,287,658 "30,752,973 _ 28,838,801 EQUITY Share capital 16 350,000 350,000 Subscription money against rights issue 17 2,589,958 - Reserves 18 397,965 397,965 ‘Accumulated loss (4,853,068) (3,484,462) Fair value reserve il 7306 513,193) 8, 181) ‘SURPLUS ON REVALUATION OF FIXED ASSETS: 3,297,928 9,297,928 LIABILITIES Non-current liabilities, Long term borrowing 19 2,000,000 - Deferred taxation 8 - 23,334 Retirement benefit obligations 20 198,463 59,023 2,198,463 82,357 Current liabilities ‘Trade and other payables 24 17,007,133]| |[ 19,156,371 Term finance certificates 22 2,122,620|| || 2,428,590 Short-term borrowings 23 4,500,000] || 5,996,984 Running finance under mark-up arrangements 24 2,483,816 - ‘Accrued mark-up 25 209,762, 113,267 Payable to government - sales tax 26 506,444, 492,585, 26,829,775 | | 28,187,797 28,968,238 28,270,154 Contingencies and commitments 27 [30,752,973 ‘The annexed notes 1 to 45 form an integral part of these financial statements. L — oe — # Faroog Rahmatuilah ‘Aftab Husain airman Chief Executive ‘Annual Report 2015Profit and Loss Account For the year ended June 30, 2015 Note 7 2014 (Rupees in thousand) Net sales 28 91,174,700 142,144,452 Cost of sales 29 (91,851,724) (142,852,397) Gross loss (677,024) (707,945) Distribution cost 30 (212,897) (197,593) ‘Administrative expenses 3t (263,213) (220,922) (Other operating expenses: 32 (16,046) (4,431) (Other income 33 184,917 347,902 Operating loss (984,263) (782,989) Finance cost - net % (706,697) (06,942) Share of income of associate 17978 13,438 Loss before taxation ~(i,672,982) (856,493) Taxation 35 491,320 (7,420) Loss after taxation (1,181,662) (863,913) Other comprehensive income Items that will not be reclassified to profit or loss Remeasurements of staff retirement benefits (62,159) 217,543 Items that may be subsequently reclassified to profit or loss Change in fair value of available for sale investments of associate (6911) 218 Deferred tax relating to fair value change of available for sale investments of associate 1,555 67) (6,356) 161 Total comprehensive loss (Re-stated) Loss per share 36 ‘The annexed notes 1 to 45 form an integral part of these financial statements. i he a Ge Faroog Rahmatullah Aftab Husain aman chet execute ‘Annwal Report 2015 Pakistan Refinery LimitedUnconsolidated Balance Sheet AS At June 20, 2015 Note June 80, 2015 June 90, 2014 Rs 000 |-CURRENT ASSETS Fheod assets| Property, plant and equipment 4 82,038,347 Intangible assets 5 22,914,520 Long-term investments 6 68,552,287 Long-term loans. 7 ‘988,592 Long-torm deposits 8 Long-term receivables 8 (CURRENT ASSETS Stores and spares 10 3,800,393, 543,482 Trade dette 11 | 58,754,078 || 49,862,487 Loans and advances 12 2,186,096 1,685,417 “Trade deposits and short-term prepayments 18 76,791 398,482 Interest accrued 4 1,495,212 1,952,521 (Current maturty of long-term investments 6 649,298 500,173 (Current maturity ofiong-torm receivables 9 60,632 4,800 (Other recehabies 18 7,022,637 3,725,998 ‘Short-term investments 16 | 21,455,000 || 19,350,000 “Taxation - net 922,008 es (Cash and bank balances w 1,266,827 2.275.912 97,688,842, 62,748,678 247,675,823 _936,343.043, ‘EQUITY AND LIABILITIES ‘SHARE CAPITAL AND RESERVES Shere capita 18 19,717,205 19,717,295 Reserves 19 __172239.921 __ 162,200,063 791,987,216 187,017,258 NON-CURRENT LIABILITIES Provision for decornissioning obligation 20 [_trstata | {16,385,020 abies against assets subject to finance leases a 200,647 175.70 Deferred labities 22 2,098,195 2,053,798 Deterred taxation 23 |__18601,138 || 16,060,076 "32,790,738 62,684,504 (CURRENT LIABILITIES “Trade and other payables 24 | 22870763] {17,916,710 Current maturty of lables against assets ‘subject to finance leases a 108,120 102,114 “Taxation - net - 3,723,348 ‘22987873 2,741,181 CONTINGENCIES AND COMMITMENTS 25 Rar S76 823 236 343.045 ‘The annexed notes 1 to 42 form an integral pat of these unconsolidated financial i L, Director Chief Executive 96. ousanevleum umesUnconsolidated Profit And Loss Account For The Year Ended June 30, 2015 Note Yearended Year ended June 30,2015 June 20, 2014 5 000 Sales net 26 © 104,976626 119,811,058, Field expencitures 27 [ (42,058,955)|[~ 2,816,692) Royalties (12,212,896)| |_(14,500,950) (64,271,791) (47,117,642) 0,104895 (72,693,716 (ther income 29 7,569,494 6,381,320 ther operating expenses 0 7,950,623) (4,102,762) Finance costs 3t 425,515) Profit before taxation 458,755 Taxation 92 (14,918,876) (28,129,381) Profit after taxation Tes aa Basic and diluted earnings per share (Rs) ar 4737. 26.08 ‘The annexed notes 1 to 42 form an integral part of these unconsokdated fancial statements. NBL igs poncaitepon015 97Consolidated Balance Sheet As At June 20, 2015 Note June 80, 2015 June 90, 2014 Rs 000 |-CURRENT ASSETS Fheod assets| Property, plant and equipment 5 108608685 (97,149,040 Intangible assets 6 259,204 3,500,605 708,955,979 100,644,751 Equity accounted investment in joint venture 7 973,687 735,188 Long-term investments 8 35,503,608 45,002, 184 Long-torm loans 9 25,646 26,608 Long-term deposits 10 785,176 785.176 Long-term receivables " 315,418 376,050 744,540,512. 147,550,005 (CURRENT ASSETS Stores and spares 12 300,399 548,480 “Trade debts 13 | 58,892,017 || 50,225,864 Loans and advances “4 2,156,096 1,750,488 “Trade deposits and shor-term prepayments 18 81,927 408,458 Interest accrued 16 1,420,963 1,947,926, (Current maturity ofiong-torm investments 8 648,238, '500,178 (Current maturty of long-term receivables " 60,692 54,800 (Other recelvabies 7 7,191,851 3,856,983 Short-term investments 18 | 29,610,259 || 27,243,478 “Taxation - net 743,599 : Cash and bank balances 19 3,178,177, 3,728,313 407,873,492, 82, 252,414,004 _ 240,205,576, ‘EQUITY AND LIABILITIES ‘SHARE CAPITAL AND RESERVES Share capital 2 © 19,717,295 19,717,295 Raserves 21 173552154 __ 161,848,586 193,260,449 187,565,861 NON-CURRENT LIABILITIES Provision for decommissioning obligation 22 | 12,088,748] [tS e7aSTe Labtties against assets subject to finance leases 23 200,047 175,70 Deferred labities 24 2,098,195 2,058,798 Detered taxation 25 |__ 20,2977 || __ 17,092,796 ‘95,205,705 95,801,822 (CURRENT LIABILITIES “Trade and other payables 268 [23,890,730 | {16,606,008 Current matunty of lables agalnst assets subject to finance leases 23 108,120 102,114 Taxation - 3,896,581 73,838,850 22,837,603 CONTINGENCIES AND COMMITMENTS or 252,414,004 240,205 576 “The annexed notes 1 10-44 form an ntogra pat ofthese consokdated fhancil aS Director Cot Executive 150 fatizanPetceum umesConsolidated Profit And Loss Account For The Year Ended June 30, 2015 Note Yearended Year ended June 30,2015 June 20, 2014 5 000 Sales net 28 105,479,266 121,099,419, Fld expenditures 29 | 43.612.445)| (5.616.597) Royatios (12,828,448)| | _(14,464,527) (65,940,893) (60,061,064) 49,598,373 71,258,340 ‘Share of proftin equiy-acoounted investment in joint venture 7 265,701 295,517 ther income 3 7,827,603, 6,389,848 (ther operating expenses 2 (7,902,241) (4,072,035) Finance costs 3 (689,133) (490,773) Profit before taxation 49,441,303 73,360,008 Taxation 34 (14,158,281) (22,503,980) Profit aftr taxation ss7a5 oe so s7 ST Basic and diluted earnings per share (Rs) 99 17.90 25.79 ‘The annexed notes 1 to 44 form an integral part ofthese consolidated franclal statements. NBL “kao Me. oe en 15