Income statement

Note 2019
Sales 29 43,627,007
Cost of sales 30 (37,952,807)
Gross profit 5,674,200

Administrative expenses 31 (711,122)

Selling and distribution expenses 32 (1,330,984)
Net impairment losses on financial assets 23.2 (22,343)
Changes in the fair value of biological assets 18 335,739
Other expenses 33 (530,452)
Other income 34 2,474,759
Financial cost 35 (3,609,744)
Profit before taxation 2,280,053

Taxation 36 (415,170)
Profit for the year 1,864,883

Profit is attributable to:

Equity holders of the parent company 1,826,373
Non-controlling interests 41,510
1,867,883
Earnings per share-basic
and diluted in Rupees 4.16

Weighted average shares outstanding 438,119,118

1,826,373,000
EPS 4.169
DPS 1
RR

Balance sheet
As at June 30, 2019
Note 2019
Assets

Non-Current Assets
Property, plant and equipment 17 83,836,836
Biological assets 18 827,488
Investments 19 10,029,807
Long-term loans to employees 20 237
Long-term deposits 60,733
94,755,101

Current Assets
Store, spares and loose tools 21 9,439,674
Stock-in-trade 22 5,486,062
Trade debts 23 1,678,379
Contract assets 24 164,021
Investment 25 14,129,099
Loans, advances, deposits, prepayments and other receivables 26 1,583,335
Loan to related party 27 1,000,000
Income tax recoverable 3,481,548
Cash and bank balances 28 783,250
37,745,368
Total Assets 132,500,469

Note 2019
Equity and Liabilities
Capital and Reserves
Authorized share capital
950,000,000 (2018:950,000,000)
ordinary shares of Rs.10 each 9,500,000
50,000,000 (2018:50,000,000)
preference shares of Rs. 10 each 500,000
10,000,000

Issued, subscribed and paid up share capital 438,119,118 (2018:

438,119,118) ordinary shares of Rs.10 each
5 4,381,191
Other reserves 6 28,873,607
Revenue reserves: Un-appropriated profits 37,744,493
Attributable to owners of the parent company 70,999,291
Non-controlling interests 47.2 2,039,554
Total equity 73,038,845

Non-Current Liabilities
Long-term finances secured 7 16,659,474
Long-term deposits 8 242,043
Deferred liabilities 9 449,194
Deferred taxation 10 4,339,696
21,690,407
Current Liabilities
Trade and other payables 11 8,490,742
Accrued markup 12 890,864
Short term borrowings - secured 13 22,851,016
Loans from related parties - unsecured 14 214,000
Current portion of non-current liabilities 15 5,256,067
Unclaimed dividends 33,438
Provision for taxation 35,090
37,771,217
Contingencies and Commitments 16

132,500,469

AFN
 First pass
2018 Forecast basis 2020
33,464,856 Sales growth 5.87% 46,185,990
(24,647,758) Cost to sales ratio -86.99% (40,178,965)
8,817,098 6,007,026

(706,148) ratio to sales -1.63% (752,834)

(919,866) ratio to sales -3.05% (1,409,054)
- ratio to sales -0.05% (23,654)
242,436 growth 38.49% 464,950
(2,545,982) ratio to sales -1.22% (561,566)
3,001,978 Constant 2,474,759
(574,569) Constant (3,609,744)
7,314,947 2,589,883

1,623,594 -18% (471,586)

8,938,541 (7,073,658) 2,118,297

8,869,995 0.99 0.98 2,074,554

68,546 0.01 0.02 47,151
8,938,541 (7,070,658) 2,121,705

20.25

438,119,118
2,074,554,000
4.74
27.20% 1.29
72.80% 1,510,275

2018

80,582,245 192% 88,754,365

636,403 2% 876,025
13,859,552 constant 10,029,807
574 -59% 139
60,173 increase 0.93% 61,298
95,138,947 99,721,634
 5,272,192 22% 9,993,367
2,428,200 13% 5,807,852
519,802 4% 1,776,826
- constant 164,021
16,018,629 constant 14,129,099
2,824,034 4% 1,676,207
1,000,000 constant 1,000,000
2,714,926 8% 3,685,761
498,973 2% 829,192
31,276,756 39,062,326
126,415,703 138,783,960

2018

9,500,000

500,000
10,000,000

4,381,191 4,381,191
34,722,352 (5,848,745) 28,873,607
37,884,238 (139,745) 39,819,047
76,987,781 (5,988,490) 73,073,845
1,994,849 44,705 2,086,705
78,982,630 (5,943,785) 75,160,550

18,330,324 Constant 16,659,474

109,726 Constant 242,043
278,379 Constant 449,194
4,299,861 0.93% 4,379,900
23,018,290 21,730,611

7,787,966 19% 8,988,774

 370,028 2% 943,118
13,614,942 52% 24,191,364
214,000 0% 226,552
2,364,410 constant 5,256,067
28,347 constant 33,438
35,090 constant 35,090
24,414,783 39,674,404

126,415,703 136,565,565

(2,218,395)
438119118
FV 5597642
PV -3976272
NPER 6
PMT 0
RATE 5.87%