PKR in Million 2020A 2021A 2022F 2023F 2024F

Income Statement
Revenue 20000.0 22500.0 24750.0 27225.0 29947.5
COGS 8000.0 9000.0 9900.0 10890.0 11979.0
Gross Profit 12000.0 13500.0 14850.0 16335.0 17968.5
Selling & Admin expense 2000.0 2250.0 2475.0 2722.5 2994.8
EBITDA 10000.0 11250.0 12375.0 13612.5 14973.8
Depreciation 800.0 900.0 990.0 1089.0 1197.9
Interest 200.0 225.0 247.5 272.3 299.5
EBT 9000.0 10125.0 11137.5 12251.3 13476.4
Tax 2700.0 3037.5 3341.3 3675.4 4042.9
Net Income 6300.0 7087.5 7796.3 8575.9 9433.5

Average 7188.9
Weighted Average
Median 7150.0 9000.0

Assumption Divers
Revenue 12.5% 10.00% 10.00% 10.00%
COGS % of Revenue 40.0% 40.0% 40.0% 40.0% 40.0%
Selling & Admin expense 10.0% 10.0% 10.0% 10.0% 10.0%
Depreciation % Sales 4.0% 4.0% 4.0% 4.0% 4.0%
Interest 1.0% 1.0% 1.0% 1.0% 1.0%
Tax 30% 30% 30% 30% 30%
Net Income

Common Size Statement - ABC Company

Revenue 100.0% 100.0% 100.0% 100.0% 100.0%
COGS % of Revenue 40.0% 40.0% 40.0% 40.0% 40.0%
Gross Profit 60.0% 60.0% 60.0% 60.0% 60.0%
Selling & Admin expense 10.0% 10.0% 10.0% 10.0% 10.0%
EBITDA 50.0% 50.0% 50.0% 50.0% 50.0%
Depreciation % Sales 4.0% 4.0% 4.0% 4.0% 4.0%
Interest 1.0% 1.0% 1.0% 1.0% 1.0%
EBT 45.0% 45.0% 45.0% 45.0% 45.0%
Taxes 13.5% 13.5% 13.5% 13.5% 13.5%
Net Income 31.5% 31.5% 31.5% 31.5% 31.5%

2/10/2024
Time Periods 0 1 2 3 4
Monthly Data 2/29/2024 3/31/2024 4/30/2024 5/31/2024 6/30/2024
Annual Data 12/31/2024 12/31/2025 12/31/2026 12/31/2027 12/31/2028

Monthly Period 0.05277778 0.14166667 0.222222222 0.308333333 0.38888889

Annual Period 0.89166667 1.89166667 2.891666667 3.891666667 4.89166667
 2025F 2026F

32942.3 36236.5
13176.9 14494.6
19765.4 21741.9 0.1 12000
3294.2 3623.6 0.05 0
16471.1 18118.2 0.1 10000.0
1317.7 1449.5 0.125 0
329.4 362.4 0.133 0
14824.0 16306.4 0.3 9000.0
4447.2 4891.9 0.2 2700.0
10376.8 11414.5 1.0 5666.6

10.00% 10.00%
40.0% 40.0%
10.0% 10.0%
4.0% 4.0%
1.0% 1.0%
30% 30%

100.0% 100.0%
40.0% 40.0%
60.0% 60.0%
10.0% 10.0%
50.0% 50.0%
4.0% 4.0%
1.0% 1.0%
45.0% 45.0%
13.5% 13.5%
31.5% 31.5%

5 6
7/31/2024 8/31/2024
12/31/2029 12/31/2030

0.475 0.55833333
5.89166667 6.89166667