MIRA INFORM REPORT
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Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
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Name : |
LUCKY CEMENT LIMITED |
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Registered Office : |
Pezu District, Lakki Marwat, North West Frontier Province, Pezu |
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Country : |
Pakistan |
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Financials (as on) : |
30.06.2011 |
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Date of Incorporation : |
18.09.1993 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
manufacturing and marketing of cement |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Pakistan |
b2 |
b2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Lucky Cement Limited
Pezu District
Lakki Marwat
North West Frontier Province
Pezu,
Pakistan
Tel: 92-21-111786555
Fax: 92-21-4534302
Web: www.lucky-cement.com
Synthesis
Employees: 764
Company Type: Public Independent
Traded:
Karachi Stock Exchange: LUCK
Incorporation Date: 18-Sep-1993
Auditor: Ernst & Young LLP
Financials in: USD (Millions)
Fiscal Year End: 30-Jun-2011
Reporting Currency: Pakistan Rupee
Annual Sales: 304.1 1
Net Income: 46.4
Total Assets: 479.4 2
Market Value: 269.7
(05-Aug-2011)
Business Description
Lucky Cement
Limited is a Pakistan-based company engaged in the manufacturing and marketing
of cement. The Company offers three types of cement: ordinary portland cement,
sulphate resistant cement and slag cement. These products are offered under various
brand names, including Lucky Cement (Regular), Lucky Star, Lucky Gold and Lucky
Sulphate Resistant Cement (SRC). Ordinary Portland cement is available in
darker shade, as well as in light shades with different brand names. Slag
cement is also available for specific user requirements. The Company has two
production facilities at Pezu, District Lakki Marwat in North West Frontier
Province (NWFP), and at Main Highway in Karachi Sindh. For the nine months
ended 31 March 2011, Lucky Cement Limited's revenues increased 3% to PKR18.53B.
Net income decreased 3% to PKR2.48B. Revenues reflects an increase in sales
from Company's products & services. Net income was offset by a decrease in
operating margins, a significant fall in other operating income, a decrease in
gross profit margins and an increase in other charges. The company is engaged
in manufacturing and marketing of cement.
Industry
Industry Construction - Raw Materials
ANZSIC 2006: 2031 - Cement and
Lime Manufacturing
NACE 2002: 2651 - Manufacture
of cement
NAICS 2002: 32731 - Cement
Manufacturing
UK SIC 2003: 2651 - Manufacture
of cement
US SIC 1987: 3241 - Cement,
Hydraulic
Key Executives
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Name |
Title |
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Muhammad Ali Tabba |
Chief Executive Officer |
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Muhammad Abid Ganatra |
Director of Finance, Company Secretary |
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Kalim Mobin |
Director of Marketing |
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Muhammad Mahbub-ur-rahman |
Director of Operations |
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Muhammad Quatbuddin Baig |
Technical Director |
Significant Developments
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Topic |
#* |
Most Recent Headline |
Date |
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Dividends |
3 |
Lucky Cement Limited to Pay FY 2010-2011 Dividend |
1-Aug-2011 |
* number of significant developments within the last 12 months
News
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Title |
Date |
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Heightened
violence in city claims 141 pts off KSE index |
19-Aug-2011 |
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Roundup:
Resurging violence in Karachi snaps 2-day bullish rally at KSE |
18-Aug-2011 |
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Stocks
suffer huge loss |
15-Aug-2011 |
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Lucky
Cement receives 2 awards |
11-Aug-2011 |
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Lucky
Cement receives two awards |
8-Aug-2011 |
Financial Summary
As
of 30-Jun-2011
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Key Ratios |
Company |
Industry |
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Current Ratio (MRQ) |
0.88 |
2.04 |
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Quick Ratio (MRQ) |
0.18 |
1.12 |
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Debt to Equity (MRQ) |
0.26 |
1.04 |
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Sales 5 Year Growth |
26.43 |
-0.71 |
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Net Profit Margin (TTM) % |
15.26 |
-1.38 |
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Return on Assets (TTM) % |
9.99 |
-0.0060 |
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Return on Equity (TTM) % |
15.02 |
-2.72 |
Stock Snapshot
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1 - Profit & Loss Item Exchange Rate: USD 1 = PKR 85.56559
2 - Balance Sheet Item Exchange Rate: USD 1 = PKR 85.97
Corporate Overview
Location
Pezu District
Lakki Marwat
North West Frontier Province
Pezu, Pakistan
Tel: 92-21-111786555
Fax: 92-21-4534302
Web: www.lucky-cement.com
Quote Symbol - Exchange
LUCK - Karachi
Stock Exchange
Sales PKR(mil): 26,017.5
Assets PKR(mil): 41,209.9
Employees: 764
Fiscal Year End: 30-Jun-2011
Industry: Construction - Raw Materials
Incorporation Date: 18-Sep-1993
Company Type: Public Independent
Quoted Status: Quoted
Chief Executive Officer: Muhammad
Ali Tabba
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Employment Opportunities
· Executives
· Financial Information
· Home Page
· Investor Relations
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Market Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2033 - Ready-Mixed Concrete Manufacturing
2031 - Cement and Lime Manufacturing
NACE 2002 Codes:
2651 - Manufacture of cement
2663 - Manufacture of ready-mixed concrete
NAICS 2002 Codes:
32731 - Cement Manufacturing
327320 - Ready-Mix Concrete Manufacturing
US SIC 1987:
3273 - Ready-Mixed Concrete
3241 - Cement, Hydraulic
UK SIC 2003:
2651 - Manufacture of cement
2663 - Manufacture of ready-mixed concrete
Business
Description
Lucky Cement
Limited is a Pakistan-based company engaged in the manufacturing and marketing
of cement. The Company offers three types of cement: ordinary portland cement,
sulphate resistant cement and slag cement. These products are offered under
various brand names, including Lucky Cement (Regular), Lucky Star, Lucky Gold
and Lucky Sulphate Resistant Cement (SRC). Ordinary Portland cement is
available in darker shade, as well as in light shades with different brand
names. Slag cement is also available for specific user requirements. The
Company has two production facilities at Pezu, District Lakki Marwat in North
West Frontier Province (NWFP), and at Main Highway in Karachi Sindh. For the
nine months ended 31 March 2011, Lucky Cement Limited's revenues increased 3%
to PKR18.53B. Net income decreased 3% to PKR2.48B. Revenues reflects an
increase in sales from Company's products & services. Net income was offset
by a decrease in operating margins, a significant fall in other operating
income, a decrease in gross profit margins and an increase in other charges.
The company is engaged in manufacturing and marketing of cement.
More Business
Descriptions
Production and distribution of cement. ISO 9001 certified
Brand/Trade Names
Lucky Cement
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Executive report
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Board of
Directors |
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Chairman of the Board |
Chairman |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Chief Executive Officer |
Director/Board Member |
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Executive Director |
Director/Board Member |
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Executives |
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Chief Executive Officer |
Chief Executive Officer |
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Director of Operations |
Operations Executive |
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Director of Finance, Company Secretary |
Company Secretary |
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Director of Marketing |
Marketing Executive |
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Technical Director |
Engineering/Technical Executive |
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Director of Power Generation |
Other |
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Significant
Developments
Lucky Cement Limited to Pay FY 2010-2011 Dividend Aug 01, 2011
Lucky Cement Limited announced that it is to pay a dividend of PKR 4.00
per share for the financial year ended June 30, 2011.
Lucky Cement Limited Not to Pay Dividend Apr 18, 2011
Lucky Cement Limited announced that the Board of Directors has
recommended no dividend for the third quarter ended March 31, 2011.
Lucky Cement Limited Announces Cash Dividend And Bonus Shares Oct 21,
2010
Lucky Cement Limited announced that the Board of Directors has
recommended Nil cash dividend and bonus shares for the first quarter ended
September 30, 2010.
Heightened
violence in city claims 141 pts off KSE index
Daily Times (Pakistan): 19 August 2011
[What follows is the full text of the news story.]
KARACHI, Aug. 19
-- The Karachi stock market faced a bearish trading session on Thursday as
concerns over heightened violence and security measures in the city triggered
panic selling.
The Karachi Stock
Exchange (KSE) 100-share index shed 141.43 points or 1.25 percent to close at
11,128.52 points as compared to 11,269.95 points of the previous session. The
KSE 30-share index decreased 151.39 points to close at 10,618.82 points as
compared with 10,770.21 points.
Analysts said
other major factors that influenced the market negatively included fall in
Asian markets on global growth worries and debt crises in eurozone.
The market
turnover fell 10.16 percent to 41.62 million shares after opening at 46.33
million shares. The overall market capitalisation declined 1.23 percent to Rs
2.963 trillion as against Rs 3.000 trillion. Losers outnumbered gainers 150 to
50, while 86 stocks were unchanged.
"Bearish
activity was witnessed in scrips across-the-board on investors' concerns over
violence and security concerns in the city," said Arif Habib Investments
Ltd Director Ahsan Mehanti. "Sentiment remained bearish during the
earnings announcements session after fall in Asian markets on global growth
worries and debt crises in eurozone."
Lower-than-expected
earnings announcements and payout by National Bank, and limited institutional
and foreign interest played a catalyst role in the negative close at KSE, he
added.
The KMI 30-share
fell 248.06 points to close at 19,893.48 points from its opening at 20,141.54
points. The KSE all-share index closed with a loss of 95.43 points to 7,735.95
points as against 7,831.38 points.
"Deteriorating
law and order situation in the city coupled with lower-than-expected earnings
by National Bank of Pakistan caused the index to fall by more than 1.0
percent," said Topline Sec analyst Samar Iqbal. "Some interest was
seen in Lotte Pakistan PTA ahead of its 6-month result."
Lotte Pak PTA was
the volume leader in the share market with 6.06 million shares as it closed at
Rs 11.13 after opening at Rs 11.11, gaining two paisas. Lucky Cement Ltd traded
3.92 million shares as it closed at Rs 73.93 from its opening at Rs 72.24,
shedding 31 paisas. NBP traded 3.78 million shares as it closed at Rs 43.47 as
against its opening at Rs 45.75, losing Rs 1.28. Fatima Fert Co traded 2.99
million shares and closed at Rs 16.23 as compared with its opening at Rs 16.32,
decreasing nine paisas. Published by HT Syndication with permission from Daily
Times. For any query with respect to this article or any other content
requirement, please contact Editor at htsyndication@hindustantimes.com
Xinhua News Agency: 18 August 2011
[What follows is the full text of the news story.]
by Jawad Hussain
KARACHI, Aug.18
(Xinhua) -- Violence paralyzed life in Karachi on Thursday, which forced
investors to sell their holdings in cement, banking, and fertilizer stocks at
Pakistan'sKarachi Stock Exchange as its main index ended at almost a year-low
level.
At least 38 people
were killed while a lot of others were injured in the latest killing spree in
Karachi since midnight where dead bodies were recovered from Lee Market, Sher
Shah, Baldia Town,Mauripur, Manghopir, and Shah Faisal areas. Panic gripped
most of the localities in the biggest metropolis of Pakistan which is also its
financial hub after bodies were recovered from several parts of the city which
bore torture marks and were killed brutally.
The benchmark KSE
100-Index slumped by 1.25 percent or 141.43 points to close at 11,128.52
levels, KSE All Share Index declined by 1.22 percent or 95.43 points to end at
7,735.95, KSE 30-Index fell by 1.41 percent or 151.39 points to conclude at
10,618.82 whereas KMI 30-Index plunged by 1.23 percent or 248.06 points to finish
the day at 19,893.48 levels here.
Market started the
day on a positive note where investors bought shares at lower levels and soon
the main index surged above 11,300 levels and hit the intraday high of
11,321.80 levels.
However,
deteriorating law and order situation in the metropolis along with concerns
over U.S. and European debt woes forced the investors to take an exit and they
sold their positions in the cement, fertilizer and banking sectors.
The selling spree
continued all day long which made the main index to give away 11,200 levels and
during the second half it came down to the lowest level of the day of 11,091
before finding some support that helped it to end above 11,100 levels.
Market analysts
are of the view that the investors are concerned over ever-grim security
situation in Karachi where a clash of ethnicities is making life difficult for
common people. They further stated that investors remained sidelined as they
were also worried about U.S. and European debt woes.
They noted that the
local investors who were already worried over continuous foreign selling in
index heavyweights found no inspiration to take fresh positions as they are
adopting a wait and watch strategy, awaiting a political solution to the
Karachi mess.
Market volumes
declined by 4.708 million shares to 41.622 million shares on Thursday as
against turnovers of 46.330 million shares on Wednesday as local individual
investors are waiting for the law and order situation in Karachi to normalize.
Market
capitalization decreased by 36.558 billion rupees (425. 093 million US dollars)
to 2.963 trillion rupees (34.46 billion US dollars) on Thursday when compared
with a market capitalization of 3 trillion rupees (34.88 billion US dollars)
the other day.
Foreign investors
continued to take an exit from the top Pakistani bourse which was reflected by
the figures released by the National Clearing Company of Pakistan Limited
(NCCPL) for Thursday,according to which, the offshorers net sold shares worth
126.680 million rupees (1.473 million US dollars).
In broader market,
a total of 286 companies changed hands during the course of the day where
prices of 150 issues declined, 50 advanced, whereas values of 86 other scrips
stayed unchanged.
Lotte Pakistan PTA
Limited emerged as the top traded company of the day with trading of 6.062
million shares in its scrip, followed by Lucky Cement Limited, National Bank of
Pakistan, Fatima Fertilizer Company, and Engro Corp Limited with turnovers of
3.929 million, 3.782 million, 2.992 million, and 2.198 million shares
respectively.
Rafhan Maize
topped the best price gainers of the day with 24. 65-rupee (28.66 US cents)
increment in its per share price that ended at 2,800 rupees (32.55 US dollars)
while on the other hand UniLever Pakistan led the major price shedders with
66.02-rupee ( 76.76 US cents) decrement to close at 5,588.4 rupees (64.98 US
dollars).
Daily Pak Banker (Pakistan): 17 August 2011
[What follows is the full text of the news story.]
Karachi, Aug. 17
-- The Karachi Stock Exchange has the issued the following KMI 30 Index
Companies: Index Report Index Open High Low Current Change Volume Value KMI30
20112.06 20226.15 20087.24 20187.97 75.91 9,296,197 1112982220.23 Symbol Volume
Open Rate High Rate Low Rate Current Rate Price Change % Change Index Weightage
(%) Index Points No. of Shares (million) Market Capt. (million) Lotte PakPTA
2,608,176 10.67 11.20 10.56 11.09 0.42 3.94 1.22 9.29 451.35 5,005.45 Attock
Refinery 1,697,043 114.79 119.80 115.15 119.02 4.23 3.68 1.07 7.64 36.88 4,389.31
Fauji Fertilizer 1,020,877 155.53 156.60 155.00 156.29 0.76 0.49 16.74 16.43
441.22 68,958.80 National Refinery 623,203 358.39 370.00 359.15 367.00 8.61
2.40 2.19 10.37 24.58 9,020.65 P.S.O. 589,019 237.16 241.50 238.10 239.50 2.34
0.99 6.09 12.01 104.74 25,086.19 D.G.K.Cement 495,372 20.98 21.39 20.87 21.12
0.14 0.67 1.75 2.34 340.54 7,192.26 Pak Oilfields Ltd. 468,324 348.44 351.55
348.00 350.40 1.96 0.56 10.58 11.95 124.41 43,592.17 Fauji Fert Bin Qasim
431,918 47.73 47.84 47.35 47.78 0.05 0.10 4.11 0.87 354.15 16,921.23 P.T.C.L.A
420,723 11.47 11.60 11.30 11.60 0.13 1.13 2.36 5.35 839.63 9,739.65 Hub Power
Co. 221,475 38.41 38.47 38.25 38.40 -0.01 -0.03 9.75 -0.51 1,045.63 40,152.15
Pak Petroleum Ltd. 153,799 200.84 202.69 199.74 200.74 -0.10 -0.05 11.28 -1.13
231.51 46,473.16 Attock Petroleum 145,321 359.89 362.00 353.70 358.02 -1.87
-0.52 1.38 -1.46 15.88 5,686.25 Lucky Cement Ltd. 136,321 72.42 72.90 71.90
72.54 0.12 0.17 3.15 1.05 179.09 12,991.02 ICI Pakistan 73,648 139.47 140.50
139.50 139.80 0.33 0.24 1.25 0.59 36.71 5,131.52 Oil & Gas 66,304 129.51
131.60 129.62 130.25 0.74 0.57 10.37 11.89 327.81 42,697.40 Millat Tractors
59,540 512.60 486.97 486.97 486.97 -25.63 -5.00 2.86 -30.39 24.20 11,782.30 Pak
Refinery 24,573 63.35 65.70 62.06 63.70 0.35 0.55 0.29 0.33 19.01 1,211.19
Habib Sugar Mills 10,924 25.31 25.50 25.00 25.39 0.08 0.32 0.57 0.36 92.08
2,337.97 Shell Pakistan 10,894 226.96 231.00 226.00 228.00 1.04 0.46 0.88 0.81
15.84 3,611.19 Thal Ltd 9,236 89.77 91.90 90.86 91.90 2.13 2.37 0.79 3.68 35.28
3,242.13 Searle Pakistan 8,555 61.00 61.00 59.00 60.60 -0.40 -0.66 0.27 -0.36
18.19 1,102.30 Sui South Gas 7,953 20.15 20.13 20.00 20.00 -0.15 -0.74 1.03
-1.56 211.84 4,236.87 Mari Gas Co. 6,655 88.43 89.90 87.65 88.50 0.07 0.08 0.47
0.08 21.87 1,935.51 Pak Suzuki Motor 3,800 65.25 65.00 64.00 65.00 -0.25 -0.38
0.47 -0.36 29.77 1,935.26 Packages Limited 1,661 105.43 106.98 104.25 104.26
-1.17 -1.11 1.11 -2.51 43.76 4,562.15 GlaxoSmithKline Pak. 1,615 70.00 71.00
70.00 70.00 0.00 0.00 0.96 0.00 56.62 3,963.21 Indus Motor Co 303 211.29 215.00
208.00 213.00 1.71 0.81 1.50 2.44 29.08 6,194.32 Sui North Gas 252 17.68 17.94
17.65 17.92 0.24 1.36 0.87 2.34 199.02 3,566.35 Attock Cement 248 41.53 42.50
41.61 41.99 0.46 1.11 0.26 0.58 25.86 1,085.70 UniLever Pak 5 5615.11 5743.99
5655.55 5700.00 84.89 1.51 4.40 13.23 3.18 18,128.5 Published by HT Syndication
with permission from Daily Pak Banker. For any query with respect to this
article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
Karachi Stock
Exchange - KSE 100 Index Companies by volume
Daily Pak Banker (Pakistan): 17 August 2011
[What follows is the full text of the news story.]
Karachi, Aug. 17
-- The Karachi Stock Exchange has the issued the following KSE 100 Index
Companies by volume: Index Report Index Open High Low Current Change Volume
Value KSE100 11233.75 11301.68 11204.20 11282.13 48.38 27,805,249 1606898819.27
Symbol Volume Open Rate High Rate Low Rate Current Rate Price Change % Change
Index Weightage (%) Index Points No. of Shares (million) Market Capt. (million)
Fatima Fert.Co. 7,722,067 15.32 16.32 15.35 16.32 1.00 6.53 1.19 8.20 2,000.00
32,640.00 Lotte PakPTA 2,569,036 10.67 11.20 10.56 11.06 0.39 3.66 0.61 2.42
1,514.21 16,747.13 Arif Habib CorpSD 1,957,947 24.45 25.20 24.20 25.04 0.59
2.41 0.34 0.91 375.00 9,390.00 National Bank 1,832,535 45.57 46.29 45.30 45.87
0.30 0.66 2.80 2.07 1,681.83 77,145.47 Attock Refinery 1,693,960 114.79 119.80
115.15 119.28 4.49 3.91 0.37 1.57 85.29 10,173.75 Byco Petroleum 1,574,038 7.59
7.99 7.60 7.87 0.28 3.69 0.11 0.45 392.10 3,085.86 Engro Corp. Ltd. 1,126,982
126.78 127.65 124.18 125.20 -1.58 -1.25 1.79 -2.55 393.28 49,239.17 Fauji
Fertilizer 1,005,377 155.53 156.60 155.00 156.21 0.68 0.44 4.81 2.36 848.16 132,490.88
Jah.Sidd. Co. 820,139 5.89 5.99 5.76 5.90 0.01 0.17 0.16 0.03 763.29 4,503.38
National Refinery 619,503 358.39 370.00 359.15 367.50 9.11 2.54 1.07 2.99 79.97
29,387.71 P.S.O. 584,661 237.16 241.50 238.10 239.81 2.65 1.12 1.49 1.86 171.52
41,132.12 Azgard Nine 577,753 4.89 4.98 4.84 4.92 0.03 0.61 0.08 0.06 449.35
2,210.80 D.G.K.Cement 495,372 20.98 21.39 20.87 21.12 0.14 0.67 0.34 0.25
438.12 9,253.08 Pak Oilfields Ltd. 465,214 348.44 351.55 348.00 349.82 1.38
0.40 3.01 1.34 236.55 82,748.49 Fauji Fert Bin Qasim 430,566 47.73 47.84 47.35
47.65 -0.08 -0.17 1.62 -0.31 934.11 44,510.34 P.T.C.L.A 384,435 11.47 11.60
11.30 11.53 0.06 0.52 1.58 0.93 3,774.00 43,514.22 B.O.Punjab 348,739 5.67 5.80
5.67 5.75 0.08 1.41 0.11 0.17 528.80 3,040.58 Nishat Mills Ltd 306,509 42.65
43.30 42.60 43.15 0.50 1.17 0.55 0.72 351.60 15,171.53 NIB Bank Limited 292,222
1.39 1.45 1.40 1.43 0.04 2.88 0.21 0.66 4,043.73 5,782.53 Bank Al-Falah 269,711
10.15 10.30 10.10 10.25 0.10 0.99 0.50 0.55 1,349.16 13,828.85 Hub Power Co. 221,475
38.41 38.47 38.25 38.40 -0.01 -0.03 1.61 -0.05 1,157.15 44,434.73 Bank AL-Habib
220,862 28.02 28.49 27.80 27.85 -0.17 -0.61 0.89 -0.61 878.60 24,468.93 Askari
BankXB 197,111 9.95 10.24 9.91 10.24 0.29 2.91 0.26 0.84 707.02 7,239.87 Pak
Petroleum Ltd. 152,390 200.84 202.69 199.74 200.80 -0.04 -0.02 8.72 -0.20
1,194.98 239,951.62 TRG Pakistan Ltd. 149,903 1.98 2.00 1.95 1.96 -0.02 -1.01
0.03 -0.03 385.39 755.37 Pace (Pak) Ltd. 148,535 1.90 1.96 1.82 1.96 0.06 3.16
0.02 0.07 278.88 546.60 Attock Petroleum 144,336 359.89 362.00 353.70 358.50
-1.39 -0.39 0.90 -0.39 69.12 24,779.52 Lucky Cement Ltd. 136,167 72.42 72.90
71.90 72.60 0.18 0.25 0.85 0.24 323.38 23,477.02 Netsol Technologies 118,639
16.24 16.58 16.00 16.20 -0.04 -0.25 0.05 -0.01 77.91 1,262.15 Habib Bank Ltd.
110,982 119.84 120.50 119.01 119.70 -0.14 -0.12 4.79 -0.63 1,102.07 131,917.54
Kot Addu Power Co. 102,801 40.64 40.90 40.67 40.89 0.25 0.62 1.31 0.90 880.25
35,993.55 MCB Bank Ltd 87,657 174.23 175.88 173.80 174.75 0.52 0.30 5.31 1.78
836.24 146,132.32 ICI Pakistan 73,648 139.47 140.50 139.50 139.80 0.33 0.24
0.70 0.19 138.80 19,404.56 Oil & Gas 64,139 129.51 131.60 129.62 130.63
1.12 0.86 20.41 19.74 4,300.93 561,830.28 Lafarge Pakistan 63,353 2.35 2.43
2.26 2.35 0.00 0.00 0.11 0.00 1,312.64 3,084.71 Habib MetroXB 61,502 17.06
17.69 17.14 17.69 0.63 3.69 0.67 2.71 1,047.83 18,536.14 Millat Tractors 59,540
512.60 486.97 486.97 486.97 -25.63 -5.00 0.65 -3.85 36.61 17,825.73 Abbott
Laboratories 56,859 99.22 102.00 96.00 98.70 -0.52 -0.52 0.35 -0.21 97.90
9,662.76 Dawood Hercules 56,408 40.13 40.40 39.00 39.25 -0.88 -2.19 0.69 -1.74
481.29 18,890.52 Pak Reinsurance 54,716 14.77 15.02 14.74 14.77 0.00 0.00 0.16
0.00 300.00 4,431.00 K.E.S.C. 54,206 1.86 1.95 1.84 1.89 0.03 1.61 0.16 0.28
2,266.22 4,283.15 Security PaperXD 53,909 35.63 37.41 33.85 33.85 -1.78 -5.00
0.05 -0.30 41.15 1,392.93 United Bank Ltd.SPOT 49,656 59.04 60.00 58.50 60.00
0.96 1.63 2.67 4.82 1,224.18 73,450.78 Engro Polymer 47,301 8.00 8.11 7.91 8.05
0.05 0.62 0.19 0.14 663.47 5,340.92 Soneri Bank Ltd 43,735 4.48 4.49 4.30 4.35
-0.13 -2.90 0.13 -0.43 802.59 3,491.28 Faysal Bank 33,600 9.31 9.60 9.32 9.40
0.09 0.97 0.25 0.27 732.72 6,887.58 Adamjee InsXD 24,843 49.85 50.74 49.75
50.30 0.45 0.90 0.23 0.23 123.70 6,222.34 Pak Refinery 24,012 63.35 65.70 62.06
64.00 0.65 1.03 0.08 0.09 35.00 2,240.00 Meezan Bank XD XB 20,398 18.65 19.00
18.00 18.51 -0.14 -0.75 0.54 -0.46 802.99 14,863.41 Pak Elektron Ltd. 11,678
5.52 5.65 5.41 5.42 -0.10 -1.81 0.02 -0.05 121.87 660.53 Shell Pakistan 10,894
226.96 231.00 226.00 228.00 1.04 0.46 0.57 0.29 68.49 15,615.24 EFU General Ins
9,100 31.00 31.05 31.00 31.00 0.00 0.00 0.14 0.00 125.00 3,875.00 Thal Ltd
8,184 89.77 91.69 90.86 91.50 1.73 1.93 0.20 0.44 61.39 5,616.85 Sui South Gas
7,953 20.15 20.13 20.00 20.00 -0.15 -0.74 0.61 -0.52 838.97 16,779.36 Clariant
Pakistan 7,269 139.99 140.01 140.00 140.00 0.01 0.01 0.17 0.00 34.12 4,776.55
Mari Gas Co. 6,655 88.43 89.90 87.65 88.50 0.07 0.08 0.24 0.02 73.50 6,504.75
Kohinoor Energy 6,260 17.75 17.75 17.65 17.65 -0.10 -0.56 0.11 -0.07 169.46
2,990.94 Pak.Int.Con.SD 5,039 74.00 74.50 74.00 74.00 0.00 0.00 0.29 0.00
109.15 8,077.33 Allied Bank LtdXD 4,070 60.74 61.50 60.01 60.80 0.06 0.10 1.90
0.21 860.31 52,306.90 Pak Suzuki Motor 3,800 65.25 65.00 64.00 65.00 -0.25
-0.38 0.19 -0.08 82.30 5,349.49 P.I.A.C.(A) 3,500 1.90 1.85 1.85 1.85 -0.05
-2.63 0.17 -0.53 2,576.74 4,766.98 Int. Ind.Ltd. 2,435 44.33 44.96 43.90 43.90
-0.43 -0.97 0.19 -0.21 119.89 5,263.29 Agritech Limited 1,970 18.00 17.30 17.00
17.00 -1.00 -5.56 0.24 -1.61 392.43 6,671.31 Packages Limited 1,661 105.43
106.98 104.25 104.26 -1.17 -1.11 0.32 -0.40 84.38 8,797.41 GlaxoSmithKline Pak.
1,615 70.00 71.00 70.00 70.00 0.00 0.00 0.51 0.00 201.88 14,131.66 PICIC Growth
Fund 1,450 12.86 13.00 12.65 13.00 0.14 1.09 0.13 0.16 283.50 3,685.50 AL-Ghazi
Tractors 755 197.13 197.00 188.00 196.00 -1.13 -0.57 0.31 -0.20 42.94 8,415.51
Nestle Pakistan 703 3620.64 3699.99 3447.00 3600.00 -20.64 -0.57 5.93 -3.84
45.35 163,258.38 P.N.S.C. 600 20.50 20.53 20.52 20.52 0.02 0.10 0.10 0.01
132.06 2,709.94 New Jubilee Insuranc 560 53.81 53.21 53.20 53.20 -0.61 -1.13
0.19 -0.25 98.87 5,260.00 Ibrahim Fibres Ltd. 552 29.75 29.90 29.88 29.90 0.15
0.50 0.34 0.19 310.51 9,284.16 Bata (Pak) Ltd. 336 650.03 674.99 650.00 663.00 12.97
2.00 0.18 0.40 7.56 5,012.28 Indus Motor Co 303 211.29 215.00 208.00 213.00
1.71 0.81 0.61 0.55 78.60 16,741.80 Stand.Chart.Bank 253 7.69 8.19 7.11 7.99
0.30 3.90 1.12 4.76 3,871.59 30,933.96 Attock Cement 248 41.53 42.50 41.61
41.99 0.46 1.11 0.13 0.16 86.60 3,636.14 Sui North Gas 222 17.68 17.94 17.65
17.94 0.26 1.47 0.36 0.59 549.11 9,850.95 Unilever Foods 155 1674.04 1635.00
1625.00 1635.00 -39.04 -2.33 0.37 -0.99 6.16 10,067.68 Pakistan Cables 130
42.90 43.00 41.00 41.00 -1.90 -4.43 0.04 -0.22 28.46 1,166.96 Colgate Palmol.
60 736.94 742.00 725.00 737.00 0.06 0.01 0.85 0.01 31.59 23,282.47 Ghani Glass
Ltd. 50 53.97 54.00 54.00 54.00 0.03 0.06 0.21 0.01 106.68 5,760.89 IGI
Insurance 33 71.67 71.89 71.10 71.89 0.22 0.31 0.25 0.09 96.99 6,972.45 Shifa Int.Hospital
30 34.35 33.00 33.00 33.00 -1.35 -3.93 0.06 -0.28 50.51 1,666.96 Murree Brewery
Co. 5 102.00 104.89 104.89 104.89 2.89 2.83 0.07 0.21 17.32 1,816.70 UniLever
Pak 5 5615.11 5743.99 5655.55 5700.00 84.89 1.51 2.75 4.63 13.29 75,775.12
Rafhan Maize XD 2 2775.35 2849.00 2676.00 2676.00 -99.35 -3.58 0.90 -3.76 9.24
24,716.61 Atlas Honda Ltd. 0 119.93 119.93 119.93 119.93 0.00 0.00 0.31 0.00
71.93 8,627.16 Bestway Cement 0 11.28 11.28 11.28 11.28 0.00 0.00 0.24 0.00
578.20 6,522.12 East West Insurance 0 296.00 296.00 296.00 296.00 0.00 0.00
0.27 0.00 25.14 7,440.82 EFU Life Assur 0 69.50 69.50 69.50 69.50 0.00 0.00
0.21 0.00 85.00 5,907.50 Gharibwal Cement 0 4.89 4.89 4.89 4.89 0.00 0.00 0.07
0.00 400.27 1,957.34 Grays of Cambridge 0 39.76 39.76 39.76 39.76 0.00 0.00
0.01 0.00 7.35 292.19 Indus Dyeing 0 323.44 323.44 323.44 323.44 0.00 0.00 0.21
0.00 18.07 5,845.77 Javedan Corp. L 0 61.37 61.37 61.37 61.37 0.00 0.00 0.13
0.00 58.13 3,567.33 Pak Services 0 142.50 142.50 142.50 142.50 0.00 0.00 0.17
0.00 32.52 4,634.71 Pak Telephone 0 2.68 2.68 2.68 2.68 0.00 0.00 0.00 0.00
21.00 56.28 Pak Tobacco Co. 0 79.15 79.15 79.15 79.15 0.00 0.00 0.73 0.00
255.49 20,222.32 Siemens Pak 0 916.00 916.00 916.00 916.00 0.00 0.00 0.27 0.00
8.25 7,554.29 Dreamworld 0 575.00 575.00 575.00 575.00 0.00 0.00 0.67 0.00
32.00 18,400.00 Media Times LtdXR 0 13.50 13.50 13.50 13.50 0.00 0.00 0.07 0.00
134.14 1,810.87 Philip Morris Pak. 0 140.00 140.00 140.00 140.00 0.00 0.00 0.31
0.00 61.58 8,621.2 Published by HT Syndication with permission from Daily Pak
Banker. For any query with respect to this article or any other content
requirement, please contact Editor at htsyndication@hindustantimes.com
Stocks suffer huge loss
Ibex (Pakistan): 15 August 2011
[What follows is the full text of the news story.]
Karachi, Aug. 15
-- THE share market remained under pressure throughout last week on persistent
selling by all and sundry on the blue chip counters and those shares where
capital gains were still intact at higher levels as bad news followed in quick
succession including city violence. The weekend rally aided by higher interim
cash payout of Rs4.75 and EPS of Rs9.65 by Fauji Fertiliser Company allowed it
to close with a clipped loss of 286.40 points at 12,190.37 points. But reports
that the US has passed the bill limiting aid to Pakistan and the row over some
constitutional issues between the judiciary and the executive created
panic-like situation as investors, mainly foreigners, hastened to liquidate
their long positions. At one stage it appeared that market crash was imminent
as the benchmark was off well over 200 points or 1.5 per cent after the news
reached the market and the prices fell like the house of cards. But leading
financial institutions came to the rescue of the market and pulled it from the
bottom injecting huge amounts on selected counters. The benchmark, which ended
last week with a net gain of over 200 points, finished the week with a massive
fall of 286.4 points at 12,190.37 as leading base shares including those whose corporate
announcements were due and had been in active demand earlier in the week, came
in for active selling and led the market fall. How the market would behave
during Ramazan, which starts next week, would determine its future course of
action in the backdrop of bad news and the continued exit of foreign investors,
most analyst believed. "Fears linked to personal security in the backdrop
of trend of violence appeared to have dominated investors' mind and weaker
links among them stayed on sidelines, while some bold ones remained
undeterred," analysts said, and added: "The fall of the turnover
figure to only 33 million shares reflects the investor mind and the panic. The
market performance was reflected in the falling share values, light volumes and
fresh erosion in the benchmark, which ended with a massive fall. Most of the
leading base shares finished lower under the lead of National Bank, Engro
Corporation, Pakistan Oilfields, and other leading oil shares. Floor brokers
said reports of higher earnings both final and interim by some leading
companies did evoke modest interest on those counters where the earnings
reports were due but the overall trend remained bearish. The absence of instant
morale boosters, which the market terribly needs in the prevailing law and
order situation, continued to weigh heavily against the underlying sentiment,
said stock analyst Ahsan Mehanti. "Rising outflow of foreign capital from
the local market owing to prevailing law and order situation in the city do
worry investors," he said, and added, "If the current flight
continued at the current rate the market might be poorer as far as foreign
investment is concerned." Another analyst Samar Iqbal believed a section
of investors hoped improvement in the prevailing law and order situation, to
lure investors back in the arena in due course." "The investor
perceptions how to behave in adverse situations like the prevailing one differ
but one thing is clear that saner elements among them may not get scared and
operate orderly," another analyst Salman Naqvi said. Future contracts:
Speculative issues on the forward counter also came in for renewed selling
under the lead of oil, fertilisers and cement sectors as investors liquidated
long positions despite reports of higher earning by them. Late in the week,
cement shares came in for active selling under the lead of D.G. Khan and Lucky
Cement and accounted for large volumes, touching the limits of panic on reports
of fall in earnings. On the oil and fertiliser counters, Attock Petroleum and Pakistan
Oilfields were major losers and so were Fauji Fertiliser and some others
notably food shares Published by HT Syndication with permission from Ibex. For
any query with respect to this article or any other content requirement, please
contact Editor at htsyndication@hindustantimes.com
Lucky Cement receives 2 awards
Daily Times (Pakistan): 11 August 2011
[What follows is the full text of the news story.]
KARACHI, Aug. 11
-- Lucky Cement has been awarded Annual Environment Excellence Award in
acknowledgement of the company's pro-active environmental initiatives and Brand
of the Year - 2010 in category of cement, which represents Lucky Cement's
increasing brand popularity, product availability, quality and consistency.
Both awards were received by Syed Noman Hasan, Chief Operating Officer of Lucky
Cement. The Brand of the Year Award was given by Prime Minister, Yousuf Raza
Gillani at a ceremony held at Governor House, Karachi. staff report Published
by HT Syndication with permission from Daily Times. For any query with respect
to this article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com
Lucky Cement receives two awards
Frontier Star (Pakistan): 08 August 2011
[What follows is the full text of the news story.]
KARACHI, August
09, 2011 (Frontier Star) -- Lucky Cement has been awarded Annual Environment
Excellence Award in acknowledgement of the companys pro-active environmental
initiatives and Brand of the Year - 2010 in category of cement, which
represents Lucky Cements increasing brand popularity, product availability,
quality and consistency. Both the Awards were received by Syed Noman Hasan,
Chief Operating Officer of Lucky Cement.
The Brand of the
Year Award was given by Prime Minister, Mr. Yousuf Raza Gillani at a ceremony
held at Governor House, Karachi.
Lucky Cement has
been receiving Environment Excellence Award for two consecutive years and was
among the Top 10 companies with the Environmental Excellence in business
practices. This Award was given by the National Forum for Environment and
Health (NFEH), which is affiliated with United Nations Environmental Program
(UNEP) and is supported by the Ministry of Environment, Government of Sind and
the Ministry of Environment, Government of Pakistan.
(THROUGH ASIA
PULSE)
09-08 2011
Market suffers worst slide in two years
South Asian Media Network (Pakistan): 08 August
2011
[What follows is the full text of the news story.]
KARACHI, Aug. 08
-- The country's stock markets received a hammering and were subjected to the
worst decline in almost two years during the week ended August 5. The benchmark
KSE-100 index fell 6.7 per cent (815 points) amid a massive global equity
sell-off. With the US markets still reeling from the near-default of the US
government, Europe took centre stage as the precarious economic conditions in
Italy came to the fore during the week. What followed was a massive sell-off in
global equity markets, which took its toll on the Pakistani market as well. The
market, as expected, opened the week on a positive note following the surprise
decision of the State Bank of Pakistan to reduce the discount rate by 50 basis
points in the prior week, citing stable inflation numbers and reduced government
borrowings in recent months. However, the excitement was short-lived as after a
gain of 0.5 per cent on the opening day, the market took a severe beating in
the next four days as selling pressure built up exponentially and volumes
dwindled as investors pulled out. The tumultuous week culminated with the crash
on Friday, when the KSE-100 index shed four per cent, following the 512-point
decline in the Dow Jones Industrial on Thursday. The decline was the worst
since October 19, 2009. The selling was broad-based and almost all sectors were
victims of the market's wrath, despite the continuing corporate results season.
Prime examples were Allied Bank Limited and Lucky Cement, which announced
decent results, but fell 4.9 per cent and 2.8 per cent respectively. The oil
and gas sector was the hardest hit, with the Oil and Gas Development Company
shedding 9.65 per cent, Pakistan Oilfields falling 5.8 per cent and Pakistan
Petroleum dropping 2.84 per cent. The sector has the heaviest weight in the
bourse and effects of its decline consequently took their toll on the market.
Oil marketing companies were also hard hit, with Pakistan State Oil falling 13
per cent despite an increase in furnace oil prices. Similarly, Attock Petroleum
Limited dipped 8.8 per cent. The fertiliser sector's woes continued despite the
government's announcement of an end to excessive gas outages for the sector.
Fauji Fertiliser fell 3.7 per cent, Fauji Fertiliser Bin Qasim fell 3.6 per
cent while Engro Corporation suffered the most, falling 9.5 per cent by the end
of the week. Average volumes stood at 52 million shares traded per day, up one
per cent over the previous week. However, the Friday session accounted for 113
million shares which increased the overall number, which would otherwise have
been lower. Around Rs212 billion worth of value was wiped out from the market
as capitalisation dropped 6.6 per cent to Rs3.01 trillion by the end of the
week. What to expect? With global markets in turmoil, the Pakistani market can
be expected to follow suit and react to changes in international markets in the
coming week. It should, however, be noted that due to the crash, several
blue-chip stocks are now trading at attractive valuations and could trigger a
much-needed buying spree in the weeks ahead. Monday, August 1 The stock market
rose by 63 points following the State Bank of Pakistan's unexpected decision to
lower the discount rate by 50 basis points. The gains in equities failed to
stimulate interest from sideliners as volatile law and order situation and
political uncertainty kept the trade volume at dismal 38.9 million shares.
Tuesday, August 2 Volumes at the Karachi Stock Exchange touched a 13-month low
as investors remained passive on the first day of Ramazan. Trade volumes
plummeted to dismal level of 15 million shares compared with Monday's tally of
39 million shares. Wednesday, August 3 Panic settled in as the stock market
took a drastic 285-point drop to close at 11,941.72 points. Due to an
ever-worsening law and order situation and weak international markets,
investors refused to take advantage of the valuations. Thursday, August 4 The
recent slump in the stock market continued as the bourse fell another 95 points
to end the day at 11846.16 points. The sustained fall seemed to reflect the
lack of improvement in both, the law and order situation and weak international
markets. Friday, August 5 As global markets witnessed the worst day in trading
since 2009, the KSE also followed its lead and witnessed panic selling.
Friday's decline is the highest single-day fall in the past two year Published
by HT Syndication with permission from South Asian Media Network. For any query
with respect to this article or any other content requirement, please contact
Editor at htsyndication@hindustantimes.com
Karachi stocks take heavy battering as index sheds
815 points
Daily Times (Pakistan): 07 August 2011
[What follows is the full text of the news story.]
KARACHI, Aug. 7 --
The Karachi stock market remained under the bearish spell during the week as
record fall in global stocks and commodities over fears of growing eurozone
sovereign debt crises and US economic recovery propelled investors to square
their positions.
Analysts said
other factors that affected market sentiment negatively included foreign outflow
from the market despite record earnings announcements, strong valuations and
record foreign exchange reserves of $18.31 billion.
The Karachi Stock
Exchange (KSE) 100-share index lost a massive 815.37 points or 6.68 percent to
close at 11, 375.09 points as compared to 12,190.37 points at the close of
previous week.
"In spite of
State Bank of Pakistan unexpectedly announcing a 50 basis points cut in the
policy rate over the weekend, the market witnessed broad-based selling
pressure," said JS Sec analyst Sana Hanif. "Investor interest was
clouded by precarious debt situation of the US and threatening law and order
situation in the city."
In the final
session of the week, the market lost 4.0 percent - highest single day drop
since Oct 19, 2009 - following sharp declines in the regional markets.
In a surprising
move last weekend, the SBP reduced the policy rate to 13.50 percent from 14
percent previously. The central bank cited comfort on the external account
front, retirement of government borrowings at the end of the third and fourth
quarters of FY11, and expectations of inflation for FY12 to remain at the
target level, as key reasons behind the cut.
The 100-share
index opened on a positive note on this news flow, however, the market failed
to sustain the positive mood and underwent massive selling, mainly led by local
banks which were net sellers of $11.6 million; whereas, foreigners were net
buyers of $4.6 million. Key results released during the week were Lucky Cement
and ABL. Lucky posted earnings of Rs 3.9 billion [earning per share (EPS) of Rs
12.28] in FY11, up 27 percent on yearly basis and announced a final cash
dividend of Rs 4 per share.
ABL registered
profit of Rs 5.0 billion (EPS Rs 5.85) in 1HFY11, up 39 percent and declared an
interim cash dividend of Rs 2.5 per share. Both the results were in line with
expectations. However, owing to the prevailing uncertainty in the global
markets, the stocks of these companies failed to maintain their pre-result
levels. ABL ended the week with a 4.9 percent decline, and Lucky plunged by 2.8
percent.
The daily average
volumes went up by 145.16 percent to close at 113.17 million shares as compared
with 46.16 million shares of the previous week.
Arif Habib
Investment Ltd Director Ahsan Mehanti said the market plunged this week after
global stocks and commodities showed a record fall as fears grew over eurozone
sovereign debt crises and US economic recovery.
The KSE saw record
fall in scrips across-the-board this week, he said and added that investors
feared foreign outflow from Pakistan bourse despite record earnings
announcements, strong valuations, record foreign exchange reserves of $18.31
billion and investor support after SBP unexpectedly announced 50 bps cut in
policy rate over the weekend.
Investor concerns
over violence in Karachi, US-Pak confrontation on production of nuclear arms
and uncertainty over the next tranche of the International Monetary Fund for
economic support affected investor sentiment ahead of major corporate earnings
announcements next week. staff report Published by HT Syndication with
permission from Daily Times. For any query with respect to this article or any
other content requirement, please contact Editor at
htsyndication@hindustantimes.com
Bourse continues downward trend
South Asian Media Network (Pakistan): 06 August
2011
[What follows is the full text of the news story.]
KARACHI, Aug. 06
-- The recent slump in the stock market continued on Thursday as the bourse
fell another 95 points, or 0.8% to end the day at 11846.16 points. The
sustained fall seemed to reflect the lack of improvement in both, the law and
order situation and weak international markets, said Arif Habib Investments
director Ahsan Mehanti. Unlike the preceding day however, institutional buying
in index heavy weights averted a steep fall in prices, said JS Global analyst
Murtaza Jafar. Buying in Pakistan Oilfields, MCB Bank and Lucky Cement kept the
broader market in check, Jafar said. Foreign institutional investors were net
buyers of Rs169 million worth of shares during the trade session, according to
data compiled by National Clearing Company of Pakistan Limited. With the oil,
cement and banking sector stable, locals were buyers in energy and cement
names, while foreign institutional buyers were rumoured to have bought shares
in banking. 72 companies saw their shares rise while 136 companies declined and
87 remained unchanged. Trade volumes rose to 48.58 million shares compared with
yesterday's 46 million. The total value of trade on Wednesday was worth Rs2.26
billion. The top ten traded companies all witnessed profit taking, with the top
three companies remaining the same as Wednesday. Lotte Pakistan led with 4.9
million shares at Rs11.69 after a decline of Rs0.07. National Bank of Pakistan
was second with 3.55 million shares traded at Rs49.19 after a decline of Rs1.7.
Jahangir Siddiqui and Company was third with 2.9 million shares traded at
Rs6.38 after a decline of Rs0.3 Published by HT Syndication with permission
from South Asian Media Network. For any query with respect to this article or
any other content requirement, please contact Editor at
htsyndication@hindustantimes.com
Annual
Income Statement
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.565587 |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Gross Revenue |
371.3 |
346.4 |
393.5 |
332.8 |
274.1 |
|
Sales Returns and Allowances |
-2.4 |
-3.8 |
-2.8 |
-1.9 |
- |
|
Excise Tax Receipts |
-64.8 |
-50.4 |
-55.6 |
-59.8 |
-67.6 |
|
Revenue |
304.1 |
292.3 |
335.1 |
271.1 |
206.5 |
|
Total Revenue |
304.1 |
292.3 |
335.1 |
271.1 |
206.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
202.3 |
197.1 |
210.2 |
201.4 |
145.9 |
|
Cost of Revenue, Total |
202.3 |
197.1 |
210.2 |
201.4 |
145.9 |
|
Gross Profit |
101.8 |
95.1 |
124.9 |
69.7 |
60.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
41.5 |
41.6 |
30.6 |
17.8 |
10.0 |
|
Labor & Related Expense |
- |
1.8 |
1.5 |
1.6 |
- |
|
Advertising Expense |
- |
0.1 |
0.1 |
0.2 |
- |
|
Total Selling/General/Administrative Expenses |
41.5 |
43.5 |
32.1 |
19.5 |
10.0 |
|
Depreciation |
- |
1.0 |
0.9 |
0.9 |
- |
|
Amortization of Intangibles |
- |
0.0 |
0.0 |
- |
- |
|
Depreciation/Amortization |
- |
1.0 |
0.9 |
0.9 |
- |
|
Total Operating Expense |
243.7 |
241.7 |
243.2 |
221.9 |
155.9 |
|
|
|
|
|
|
|
|
Operating Income |
60.3 |
50.6 |
91.9 |
49.2 |
50.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-6.1 |
-6.8 |
-15.7 |
-16.4 |
-17.1 |
|
Interest Expense, Net Non-Operating |
-6.1 |
-6.8 |
-15.7 |
-16.4 |
-17.1 |
|
Investment Income -
Non-Operating |
- |
0.0 |
-5.3 |
6.0 |
3.2 |
|
Interest/Investment Income - Non-Operating |
- |
0.0 |
-5.3 |
6.0 |
3.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
-6.1 |
-6.8 |
-21.0 |
-10.4 |
-13.9 |
|
Gain (Loss) on Sale of Assets |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
-3.8 |
-3.1 |
-5.0 |
-1.9 |
7.7 |
|
Other, Net |
-3.8 |
-3.1 |
-5.0 |
-1.9 |
7.7 |
|
Income Before Tax |
50.5 |
40.8 |
65.9 |
36.9 |
44.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
4.1 |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Income After Tax |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
Net Income |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
323.3 |
323.4 |
323.4 |
272.1 |
263.4 |
|
Basic EPS Excl Extraord Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Basic/Primary EPS Incl Extraord Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Dilution Adjustment |
- |
- |
- |
- |
0.0 |
|
Diluted Net Income |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
Diluted Weighted Average Shares |
323.3 |
323.4 |
323.4 |
272.1 |
263.4 |
|
Diluted EPS Excl Extraord Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Diluted EPS Incl Extraord Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Dividends per Share - Common Stock Primary Issue |
0.05 |
0.05 |
0.05 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
15.1 |
15.4 |
16.5 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
6.1 |
6.4 |
15.3 |
16.0 |
17.1 |
|
Interest Capitalized, Supplemental |
- |
-1.8 |
-8.1 |
- |
- |
|
Depreciation, Supplemental |
- |
16.8 |
14.6 |
15.7 |
14.6 |
|
Total Special Items |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
50.5 |
40.7 |
65.9 |
36.9 |
44.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
4.1 |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Normalized Income After Tax |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Diluted Normalized EPS |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Amort of Intangibles, Supplemental |
- |
0.0 |
0.0 |
- |
- |
|
Rental Expenses |
- |
0.1 |
0.1 |
0.3 |
0.0 |
|
Advertising Expense, Supplemental |
- |
0.1 |
0.1 |
0.2 |
0.1 |
|
Normalized EBIT |
60.3 |
50.6 |
91.9 |
49.2 |
50.6 |
|
Normalized EBITDA |
60.3 |
67.4 |
106.5 |
64.8 |
65.1 |
|
Current Tax - Domestic |
- |
2.3 |
2.0 |
1.4 |
1.0 |
|
Current Tax - Total |
- |
2.3 |
2.0 |
1.4 |
1.0 |
|
Deferred Tax - Domestic |
- |
1.0 |
5.3 |
-7.3 |
1.3 |
|
Deferred Tax - Total |
- |
1.0 |
5.3 |
-7.3 |
1.3 |
|
Other Tax |
- |
0.0 |
0.1 |
0.0 |
- |
|
Income Tax - Total |
- |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Interest Cost - Domestic |
- |
0.4 |
0.3 |
0.2 |
0.2 |
|
Service Cost - Domestic |
- |
0.6 |
0.4 |
0.5 |
0.4 |
|
Actuarial Gains and Losses - Domestic |
- |
0.2 |
0.2 |
-0.1 |
0.1 |
|
Domestic Pension Plan Expense |
- |
1.2 |
0.9 |
0.6 |
0.7 |
|
Defined Contribution Expense - Domestic |
- |
- |
- |
- |
2.3 |
|
Total Pension Expense |
- |
1.2 |
0.9 |
0.6 |
3.1 |
|
Discount Rate - Domestic |
- |
14.00% |
13.00% |
12.00% |
10.00% |
|
Compensation Rate - Domestic |
- |
14.00% |
13.00% |
12.00% |
10.00% |
|
Total Plan Interest Cost |
- |
0.4 |
0.3 |
0.2 |
0.2 |
|
Total Plan Service Cost |
- |
0.6 |
0.4 |
0.5 |
0.4 |
Annual
Balance Sheet
Financials
in: USD (mil)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.97 |
85.525 |
81.44 |
68.45 |
60.47 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
4.1 |
3.9 |
3.0 |
3.4 |
20.5 |
|
Short Term Investments |
- |
- |
9.8 |
0.5 |
- |
|
Cash and Short Term Investments |
4.1 |
3.9 |
12.9 |
3.9 |
20.5 |
|
Trade Accounts Receivable - Net |
7.2 |
9.1 |
15.6 |
10.5 |
7.9 |
|
Other Receivables |
10.1 |
12.8 |
11.3 |
33.7 |
16.8 |
|
Total Receivables, Net |
17.4 |
21.9 |
26.9 |
44.2 |
24.6 |
|
Inventories - Finished Goods |
- |
- |
3.2 |
1.9 |
2.4 |
|
Inventories - Work In Progress |
- |
- |
7.3 |
4.2 |
5.1 |
|
Inventories - Raw Materials |
88.0 |
54.0 |
46.7 |
65.1 |
36.6 |
|
Inventories - Other |
- |
- |
-0.6 |
- |
0.0 |
|
Total Inventory |
88.0 |
54.0 |
56.6 |
71.1 |
44.2 |
|
Prepaid Expenses |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Current Assets |
0.4 |
0.6 |
0.1 |
2.7 |
0.2 |
|
Other Current Assets, Total |
0.4 |
0.6 |
0.1 |
2.7 |
0.2 |
|
Total Current Assets |
109.9 |
80.3 |
96.5 |
122.1 |
89.5 |
|
|
|
|
|
|
|
|
Buildings |
- |
- |
71.4 |
68.0 |
73.8 |
|
Land/Improvements |
- |
- |
9.1 |
10.4 |
3.8 |
|
Machinery/Equipment |
- |
- |
328.5 |
285.7 |
303.4 |
|
Construction in
Progress |
- |
- |
26.3 |
70.6 |
3.3 |
|
Other
Property/Plant/Equipment |
- |
- |
1.4 |
1.1 |
0.8 |
|
Property/Plant/Equipment - Gross |
- |
- |
436.7 |
435.8 |
385.2 |
|
Accumulated Depreciation |
- |
- |
-62.4 |
-57.7 |
-49.2 |
|
Property/Plant/Equipment - Net |
368.8 |
366.9 |
374.2 |
378.1 |
336.0 |
|
Intangibles, Net |
0.0 |
0.0 |
0.0 |
- |
- |
|
LT Investments - Other |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Note Receivable - Long Term |
0.6 |
0.6 |
0.7 |
0.0 |
- |
|
Total Assets |
479.4 |
447.9 |
471.4 |
500.2 |
425.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
47.0 |
35.6 |
15.7 |
28.6 |
15.6 |
|
Accrued Expenses |
1.0 |
1.8 |
8.6 |
9.4 |
7.3 |
|
Notes Payable/Short Term Debt |
73.3 |
73.3 |
76.0 |
52.7 |
47.4 |
|
Current Portion - Long Term Debt/Capital Leases |
3.1 |
2.1 |
0.0 |
3.5 |
26.7 |
|
Dividends Payable |
- |
- |
0.2 |
0.2 |
0.2 |
|
Customer Advances |
- |
- |
2.9 |
3.0 |
1.7 |
|
Other Payables |
- |
- |
4.9 |
2.1 |
3.7 |
|
Other Current Liabilities |
- |
- |
3.5 |
12.8 |
2.5 |
|
Other Current liabilities, Total |
- |
- |
11.5 |
18.1 |
8.2 |
|
Total Current Liabilities |
124.4 |
112.7 |
111.7 |
112.3 |
105.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
7.7 |
19.4 |
52.8 |
96.9 |
137.8 |
|
Total Long Term Debt |
7.7 |
19.4 |
52.8 |
96.9 |
137.8 |
|
Total Debt |
84.1 |
94.7 |
128.8 |
153.1 |
211.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
19.2 |
18.3 |
18.2 |
15.5 |
25.1 |
|
Deferred Income Tax |
19.2 |
18.3 |
18.2 |
15.5 |
25.1 |
|
Other Long Term Liabilities |
5.0 |
4.1 |
3.2 |
3.0 |
2.9 |
|
Other Liabilities, Total |
5.0 |
4.1 |
3.2 |
3.0 |
2.9 |
|
Total Liabilities |
156.3 |
154.5 |
185.9 |
227.7 |
270.8 |
|
|
|
|
|
|
|
|
Common Stock |
37.6 |
37.8 |
39.7 |
47.2 |
43.6 |
|
Common Stock |
37.6 |
37.8 |
39.7 |
47.2 |
43.6 |
|
Additional Paid-In Capital |
- |
- |
90.2 |
107.3 |
16.4 |
|
Retained Earnings (Accumulated Deficit) |
285.4 |
255.6 |
155.6 |
118.0 |
94.8 |
|
Total Equity |
323.1 |
293.4 |
285.5 |
272.5 |
154.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
479.4 |
447.9 |
471.4 |
500.2 |
425.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
323.4 |
323.4 |
323.4 |
323.4 |
263.4 |
|
Total Common Shares Outstanding |
323.4 |
323.4 |
323.4 |
323.4 |
263.4 |
|
Deferred Revenue - Current |
- |
- |
2.9 |
3.0 |
1.7 |
|
Pension Obligation - Domestic |
- |
- |
2.9 |
2.5 |
2.4 |
|
Funded Status - Domestic |
- |
- |
-2.9 |
-2.5 |
-2.4 |
|
Total Funded Status |
- |
- |
-2.9 |
-2.5 |
-2.4 |
|
Discount Rate - Domestic |
- |
- |
13.00% |
12.00% |
10.00% |
|
Compensation Rate - Domestic |
- |
- |
13.00% |
12.00% |
10.00% |
|
Total Plan Obligations |
- |
- |
2.9 |
2.5 |
2.4 |
Annual
Cash Flows
Financials
in: USD (mil)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.565587 |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
- |
40.8 |
65.9 |
36.9 |
44.4 |
|
Depreciation |
- |
16.8 |
14.6 |
15.7 |
14.6 |
|
Depreciation/Depletion |
- |
16.8 |
14.6 |
15.7 |
14.6 |
|
Amortization of Intangibles |
- |
0.0 |
0.0 |
- |
- |
|
Amortization |
- |
0.0 |
0.0 |
- |
- |
|
Unusual Items |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Cash Items |
- |
8.2 |
17.0 |
2.7 |
13.8 |
|
Non-Cash Items |
- |
8.2 |
17.0 |
2.7 |
13.8 |
|
Accounts Receivable |
- |
4.3 |
3.9 |
- |
- |
|
Inventories |
- |
-0.4 |
2.8 |
- |
- |
|
Other Assets |
- |
-1.4 |
9.9 |
-62.2 |
-28.8 |
|
Accounts Payable |
- |
4.2 |
-11.1 |
- |
- |
|
Other Liabilities |
- |
- |
- |
32.0 |
-0.9 |
|
Other Operating Cash Flow |
- |
-9.8 |
-20.0 |
-5.4 |
-12.6 |
|
Changes in Working Capital |
- |
-3.0 |
-14.5 |
-35.6 |
-42.3 |
|
Cash from Operating Activities |
- |
62.8 |
82.9 |
19.6 |
30.5 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
- |
-27.7 |
-73.6 |
-104.2 |
-33.7 |
|
Capital Expenditures |
- |
-27.7 |
-73.6 |
-104.2 |
-33.7 |
|
Sale of Fixed Assets |
- |
0.1 |
0.5 |
0.5 |
0.1 |
|
Other Investing Cash Flow Items, Total |
- |
0.1 |
0.5 |
0.5 |
0.1 |
|
Cash from Investing Activities |
- |
-27.6 |
-73.1 |
-103.7 |
-33.6 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
- |
-15.3 |
0.0 |
-5.2 |
-4.3 |
|
Total Cash Dividends Paid |
- |
-15.3 |
0.0 |
-5.2 |
-4.3 |
|
Short Term Debt Issued |
- |
2.6 |
52.8 |
-11.4 |
32.4 |
|
Short Term Debt, Net |
- |
2.6 |
52.8 |
-11.4 |
32.4 |
|
Long Term Debt Issued |
- |
- |
- |
111.2 |
- |
|
Long Term Debt, Net |
- |
-29.4 |
-32.8 |
62.0 |
-42.8 |
|
Issuance (Retirement) of Debt, Net |
- |
-26.8 |
20.1 |
50.6 |
-10.4 |
|
Cash from Financing Activities |
- |
-42.1 |
20.1 |
45.4 |
-14.7 |
|
|
|
|
|
|
|
|
Net Change in Cash |
- |
-6.9 |
29.9 |
-38.7 |
-17.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
- |
10.9 |
-18.3 |
15.7 |
34.0 |
|
Net Cash - Ending Balance |
- |
4.0 |
11.6 |
-23.0 |
16.2 |
|
Cash Interest Paid |
- |
7.7 |
16.5 |
2.6 |
12.0 |
|
Cash Taxes Paid |
- |
2.0 |
2.6 |
2.7 |
0.4 |
Annual
Income Statement
Financials in: USD
(mil)
Except for share items
(millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.565587 |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst & Young
LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Gross Sales |
371.3 |
- |
- |
- |
274.1 |
|
Local Sales |
- |
169.2 |
192.0 |
184.5 |
- |
|
Export Sales |
- |
177.2 |
201.5 |
148.4 |
- |
|
Sales Tax |
-64.8 |
-50.4 |
-55.6 |
-59.8 |
-67.6 |
|
Rebates and Commission |
-2.4 |
-3.8 |
-2.8 |
-1.9 |
- |
|
Total Revenue |
304.1 |
292.3 |
335.1 |
271.1 |
206.5 |
|
|
|
|
|
|
|
|
Cost of Sales |
202.3 |
197.1 |
210.2 |
201.4 |
145.9 |
|
Salaries |
- |
0.5 |
0.5 |
0.5 |
- |
|
Advertising |
- |
0.1 |
0.1 |
0.2 |
- |
|
Depreciation |
- |
0.9 |
0.8 |
0.8 |
- |
|
Distribution Cost/Expenses |
37.8 |
39.4 |
29.6 |
0.8 |
1.8 |
|
Salaries |
- |
1.3 |
1.0 |
1.1 |
- |
|
Advertising |
- |
0.0 |
0.0 |
0.0 |
- |
|
Depreciation |
- |
0.1 |
0.1 |
0.2 |
- |
|
Amortization |
- |
0.0 |
0.0 |
- |
- |
|
Administrative Expenses |
3.7 |
2.1 |
0.9 |
17.0 |
8.2 |
|
Total Operating Expense |
243.7 |
241.7 |
243.2 |
221.9 |
155.9 |
|
|
|
|
|
|
|
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
10.0 |
|
Gain on disposal of fixed assets |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net exchange differences |
- |
0.0 |
0.3 |
0.0 |
0.4 |
|
Financial Charges |
-6.1 |
-6.8 |
-15.7 |
-16.4 |
-17.1 |
|
Fair Value Gain on The Interest Rate |
- |
- |
0.0 |
14.3 |
2.9 |
|
Workers Profit Participation Fund |
- |
-2.2 |
-3.5 |
-1.9 |
-2.3 |
|
Others |
-3.8 |
-0.9 |
-1.4 |
- |
- |
|
Exchange Loss |
- |
0.0 |
-5.6 |
-8.4 |
- |
|
Net Income Before Taxes |
50.5 |
40.8 |
65.9 |
36.9 |
44.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
4.1 |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Net Income After Taxes |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
Net Income |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
323.3 |
323.4 |
323.4 |
272.1 |
263.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Basic EPS Including ExtraOrdinary Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Dilution Adjustment |
- |
- |
- |
- |
0.0 |
|
Diluted Net Income |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
Diluted Weighted Average Shares |
323.3 |
323.4 |
323.4 |
272.1 |
263.4 |
|
Diluted EPS Excluding ExtraOrd Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Diluted EPS Including ExtraOrd Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
DPS-Ordinary Shares |
0.05 |
0.05 |
0.05 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
15.1 |
15.4 |
16.5 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
50.5 |
40.7 |
65.9 |
36.9 |
44.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
4.1 |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Normalized Income After Taxes |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Diluted Normalized EPS |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Interest Expense |
6.1 |
6.4 |
15.3 |
16.0 |
17.1 |
|
Depreciation |
- |
16.8 |
14.6 |
15.7 |
14.6 |
|
Amort of Intangibles, Supplemental |
- |
0.0 |
0.0 |
- |
- |
|
Interest Capitalized, Supplemental |
- |
-1.8 |
-8.1 |
- |
- |
|
Advertising |
- |
0.1 |
0.1 |
0.2 |
0.1 |
|
Rent |
- |
0.1 |
0.1 |
0.3 |
0.0 |
|
Current Tax |
- |
2.3 |
2.0 |
1.4 |
1.0 |
|
Current Tax - Total |
- |
2.3 |
2.0 |
1.4 |
1.0 |
|
Deferred Tax |
- |
1.0 |
5.3 |
-7.3 |
1.3 |
|
Deferred Tax - Total |
- |
1.0 |
5.3 |
-7.3 |
1.3 |
|
Prior Year |
- |
0.0 |
0.1 |
0.0 |
- |
|
Income Tax - Total |
- |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Current Service Cost - Pension |
- |
0.6 |
0.4 |
0.5 |
0.4 |
|
Interest Cost - Pension |
- |
0.4 |
0.3 |
0.2 |
0.2 |
|
Actuarial Gain/Loss - Pension |
- |
0.2 |
0.2 |
-0.1 |
0.1 |
|
Domestic Pension Plan Expense |
- |
1.2 |
0.9 |
0.6 |
0.7 |
|
Defined Contribution Expenses - Domestic |
- |
- |
- |
- |
2.3 |
|
Total Pension Expense |
- |
1.2 |
0.9 |
0.6 |
3.1 |
|
Salary Increase Rate - Pension |
- |
14.00% |
13.00% |
12.00% |
10.00% |
|
Discount Rate - Pension |
- |
14.00% |
13.00% |
12.00% |
10.00% |
Annual
Balance Sheet
Financials
in: USD (mil)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.97 |
85.525 |
81.44 |
68.45 |
60.47 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Spares |
73.4 |
46.9 |
20.0 |
- |
15.5 |
|
Stores and Spares |
14.5 |
7.1 |
22.5 |
60.8 |
17.4 |
|
Provision for Slow Moving Spares |
- |
- |
-0.6 |
- |
0.0 |
|
Raw and Packing Materials |
- |
- |
4.2 |
4.3 |
3.6 |
|
Work-in-Process |
- |
- |
7.3 |
4.2 |
5.1 |
|
Finished Goods |
- |
- |
3.2 |
1.9 |
2.4 |
|
Trade Debtors |
- |
- |
- |
- |
7.9 |
|
Bill Receivabe |
- |
- |
14.1 |
9.1 |
- |
|
Trade Debtors- Others |
7.2 |
9.1 |
1.5 |
1.5 |
- |
|
Loans and Advances |
0.8 |
1.0 |
1.3 |
1.6 |
4.0 |
|
Trade Deposits |
- |
- |
- |
- |
0.2 |
|
Margin Against Letters of credit |
- |
- |
0.0 |
2.6 |
- |
|
Trade Deposits |
0.4 |
0.6 |
0.1 |
0.1 |
- |
|
Other Receivables |
2.5 |
2.4 |
0.7 |
13.0 |
3.0 |
|
Taxation Refund |
6.3 |
6.3 |
6.6 |
7.9 |
8.9 |
|
Taxation |
0.5 |
1.7 |
2.2 |
1.9 |
0.8 |
|
Sales Tax Refundable |
0.0 |
1.4 |
0.5 |
9.3 |
0.0 |
|
Cash and Bank Balances |
4.1 |
3.9 |
2.8 |
3.1 |
20.5 |
|
Short Term Prepayment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Current Account |
- |
- |
0.2 |
0.3 |
- |
|
Savings account |
- |
- |
9.8 |
0.5 |
- |
|
Total Current Assets |
109.9 |
80.3 |
96.5 |
122.1 |
89.5 |
|
|
|
|
|
|
|
|
Plant and Machinery |
368.8 |
366.9 |
- |
- |
- |
|
Intangibles, Net |
0.0 |
0.0 |
0.0 |
- |
- |
|
Land |
- |
- |
9.1 |
10.4 |
3.8 |
|
Building |
- |
- |
71.4 |
68.0 |
73.8 |
|
Plant and Machinery |
- |
- |
228.5 |
207.3 |
230.5 |
|
Generators |
- |
- |
80.1 |
57.6 |
52.7 |
|
Quarry Equipments |
- |
- |
9.7 |
9.4 |
10.6 |
|
Vehicles |
- |
- |
7.9 |
9.0 |
7.1 |
|
Furniture and Fixtures |
- |
- |
0.5 |
0.6 |
0.6 |
|
Office Equipments |
- |
- |
1.2 |
1.3 |
1.3 |
|
Computer Equipments |
- |
- |
0.5 |
0.6 |
0.6 |
|
Other Assets |
- |
- |
1.4 |
1.1 |
0.8 |
|
Depreciation |
- |
- |
-62.4 |
-57.7 |
-49.2 |
|
Capital Work-in-Progress |
- |
- |
26.3 |
70.6 |
3.3 |
|
Long Term Advances |
0.6 |
0.6 |
0.7 |
0.0 |
- |
|
Long Term Deposits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets |
479.4 |
447.9 |
471.4 |
500.2 |
425.5 |
|
|
|
|
|
|
|
|
Creditors |
47.0 |
35.6 |
9.9 |
7.4 |
6.0 |
|
Accrued Mark Up |
1.0 |
1.8 |
2.9 |
4.2 |
5.4 |
|
Short Term Finances |
73.3 |
73.3 |
76.0 |
52.7 |
47.4 |
|
Current Portion of Long Term Finance |
3.1 |
2.1 |
0.0 |
3.5 |
26.7 |
|
Bills Payable |
- |
- |
5.8 |
21.2 |
9.5 |
|
Accrued Expenses |
- |
- |
3.4 |
2.6 |
1.9 |
|
Advances from Customers |
- |
- |
2.9 |
3.0 |
1.7 |
|
Retention Money |
- |
- |
4.9 |
2.1 |
3.7 |
|
Workers Profit Participation Fund |
- |
- |
2.1 |
1.9 |
2.5 |
|
Workers Welfare Fund |
- |
- |
1.4 |
- |
- |
|
Unclaimed Dividend |
- |
- |
0.2 |
0.2 |
0.2 |
|
Other |
- |
- |
0.0 |
0.1 |
0.0 |
|
Excise duty payable |
- |
- |
2.3 |
2.5 |
0.0 |
|
Fair Value Loss on the Cross Curr. Swap |
- |
- |
0.0 |
10.8 |
0.0 |
|
Total Current Liabilities |
124.4 |
112.7 |
111.7 |
112.3 |
105.1 |
|
|
|
|
|
|
|
|
Loans |
7.7 |
19.4 |
52.8 |
96.9 |
137.8 |
|
Total Long Term Debt |
7.7 |
19.4 |
52.8 |
96.9 |
137.8 |
|
|
|
|
|
|
|
|
Deposits |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Staff Liabilities |
4.6 |
3.7 |
2.9 |
2.5 |
2.4 |
|
Deferred Taxation |
19.2 |
18.3 |
18.2 |
15.5 |
25.1 |
|
Total Liabilities |
156.3 |
154.5 |
185.9 |
227.7 |
270.8 |
|
|
|
|
|
|
|
|
Ordinary Shares |
37.6 |
37.8 |
39.7 |
47.2 |
43.6 |
|
Share Premium |
- |
- |
90.2 |
107.3 |
16.4 |
|
Reserves |
285.4 |
255.6 |
- |
- |
49.6 |
|
General Reserves |
- |
- |
61.4 |
73.0 |
- |
|
Unappropriated Profit |
- |
- |
94.2 |
45.0 |
45.1 |
|
Total Equity |
323.1 |
293.4 |
285.5 |
272.5 |
154.7 |
|
|
|
|
|
|
|
|
Total
Liabilities & Shareholders' Equity |
479.4 |
447.9 |
471.4 |
500.2 |
425.5 |
|
|
|
|
|
|
|
|
S/O-Ordinary
Shares |
323.4 |
323.4 |
323.4 |
323.4 |
263.4 |
|
Total Common
Shares Outstanding |
323.4 |
323.4 |
323.4 |
323.4 |
263.4 |
|
Deferred Revenue |
- |
- |
2.9 |
3.0 |
1.7 |
|
PV of Funded Obligations - Pension |
- |
- |
2.9 |
2.5 |
2.4 |
|
Funded Status - Pension |
- |
- |
-2.9 |
-2.5 |
-2.4 |
|
Total Funded Status |
- |
- |
-2.9 |
-2.5 |
-2.4 |
|
Salary Increase Rate - Pension |
- |
- |
13.00% |
12.00% |
10.00% |
|
Discount Rate - Pension |
- |
- |
13.00% |
12.00% |
10.00% |
Annual
Cash Flows
Financials
in: USD (mil)
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
40.8 |
65.9 |
36.9 |
44.4 |
42.6 |
|
Depreciation |
16.8 |
14.6 |
15.7 |
14.6 |
7.0 |
|
Amortization on Intangible Asset |
0.0 |
0.0 |
- |
- |
- |
|
Provision for Slow Moving Spares |
0.3 |
0.6 |
0.1 |
- |
- |
|
Gain on Disposal Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Liability Writte off |
- |
- |
0.0 |
-1.1 |
0.0 |
|
Provision for Gratuity |
1.2 |
0.9 |
0.6 |
0.7 |
1.2 |
|
Foregin Exchange |
0.0 |
-0.3 |
- |
- |
- |
|
Financial Charges |
6.8 |
15.7 |
2.0 |
14.2 |
1.4 |
|
Changes in Current Assets |
- |
- |
-62.2 |
-28.8 |
-20.1 |
|
Changes in Current Liabilities |
- |
- |
32.0 |
-0.9 |
23.5 |
|
Stores and Spares |
-7.4 |
9.0 |
- |
- |
- |
|
Stock-in-Trade |
7.0 |
-6.2 |
- |
- |
- |
|
Trade Debtors |
5.8 |
-7.0 |
- |
- |
- |
|
Advances, Deposits, Other |
0.0 |
0.0 |
- |
- |
- |
|
Trade Deposits & Short Term Prepayments |
-0.5 |
2.3 |
- |
- |
- |
|
Tax Refundable |
-0.9 |
7.6 |
- |
- |
- |
|
Other Receivable |
-1.5 |
10.8 |
- |
- |
- |
|
Trade amd Other Payables |
4.2 |
-11.1 |
- |
- |
- |
|
Finance Costs Paid |
-7.7 |
-16.5 |
-2.6 |
-12.0 |
-9.6 |
|
Gratuity Paid |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
|
Income Tax Paid |
-2.0 |
-2.6 |
-2.7 |
-0.4 |
-0.5 |
|
Long Term Advances Paid |
0.0 |
-0.7 |
- |
- |
- |
|
Long Term Deposits |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Cash from Operating Activities |
62.8 |
82.9 |
19.6 |
30.5 |
45.5 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-27.7 |
-73.6 |
-104.2 |
-33.7 |
-101.1 |
|
Disposal Fixed Assets |
0.1 |
0.5 |
0.5 |
0.1 |
0.0 |
|
Cash from Investing Activities |
-27.6 |
-73.1 |
-103.7 |
-33.6 |
-101.1 |
|
|
|
|
|
|
|
|
LT Loans |
-29.4 |
-32.8 |
-49.2 |
-42.8 |
90.1 |
|
Long Term Deposits |
2.6 |
52.8 |
-11.4 |
32.4 |
10.8 |
|
Proceeds from Issue of GDR |
- |
- |
111.2 |
- |
- |
|
Dividend Paid |
-15.3 |
0.0 |
-5.2 |
-4.3 |
0.0 |
|
Cash from Financing Activities |
-42.1 |
20.1 |
45.4 |
-14.7 |
100.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-6.9 |
29.9 |
-38.7 |
-17.8 |
45.2 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
10.9 |
-18.3 |
15.7 |
34.0 |
-10.8 |
|
Net Cash Ending Balance |
4.0 |
11.6 |
-23.0 |
16.2 |
34.5 |
|
Cash Interest Paid |
7.7 |
16.5 |
2.6 |
12.0 |
- |
|
Cash Taxes Paid |
2.0 |
2.6 |
2.7 |
0.4 |
0.5 |
Financial
Health
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
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Annual
Ratios
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
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Annual
Income Statement
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.565587 |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Gross Revenue |
371.3 |
346.4 |
393.5 |
332.8 |
274.1 |
|
Sales Returns and Allowances |
-2.4 |
-3.8 |
-2.8 |
-1.9 |
- |
|
Excise Tax Receipts |
-64.8 |
-50.4 |
-55.6 |
-59.8 |
-67.6 |
|
Revenue |
304.1 |
292.3 |
335.1 |
271.1 |
206.5 |
|
Total Revenue |
304.1 |
292.3 |
335.1 |
271.1 |
206.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
202.3 |
197.1 |
210.2 |
201.4 |
145.9 |
|
Cost of Revenue, Total |
202.3 |
197.1 |
210.2 |
201.4 |
145.9 |
|
Gross Profit |
101.8 |
95.1 |
124.9 |
69.7 |
60.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
41.5 |
41.6 |
30.6 |
17.8 |
10.0 |
|
Labor & Related Expense |
- |
1.8 |
1.5 |
1.6 |
- |
|
Advertising Expense |
- |
0.1 |
0.1 |
0.2 |
- |
|
Total Selling/General/Administrative Expenses |
41.5 |
43.5 |
32.1 |
19.5 |
10.0 |
|
Depreciation |
- |
1.0 |
0.9 |
0.9 |
- |
|
Amortization of Intangibles |
- |
0.0 |
0.0 |
- |
- |
|
Depreciation/Amortization |
- |
1.0 |
0.9 |
0.9 |
- |
|
Total Operating Expense |
243.7 |
241.7 |
243.2 |
221.9 |
155.9 |
|
|
|
|
|
|
|
|
Operating Income |
60.3 |
50.6 |
91.9 |
49.2 |
50.6 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-6.1 |
-6.8 |
-15.7 |
-16.4 |
-17.1 |
|
Interest Expense, Net Non-Operating |
-6.1 |
-6.8 |
-15.7 |
-16.4 |
-17.1 |
|
Investment Income -
Non-Operating |
- |
0.0 |
-5.3 |
6.0 |
3.2 |
|
Interest/Investment Income - Non-Operating |
- |
0.0 |
-5.3 |
6.0 |
3.2 |
|
Interest Income (Expense) - Net Non-Operating Total |
-6.1 |
-6.8 |
-21.0 |
-10.4 |
-13.9 |
|
Gain (Loss) on Sale of Assets |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Operating Income (Expense) |
-3.8 |
-3.1 |
-5.0 |
-1.9 |
7.7 |
|
Other, Net |
-3.8 |
-3.1 |
-5.0 |
-1.9 |
7.7 |
|
Income Before Tax |
50.5 |
40.8 |
65.9 |
36.9 |
44.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
4.1 |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Income After Tax |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
Net Income |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
323.3 |
323.4 |
323.4 |
272.1 |
263.4 |
|
Basic EPS Excl Extraord Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Basic/Primary EPS Incl Extraord Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Dilution Adjustment |
- |
- |
- |
- |
0.0 |
|
Diluted Net Income |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
Diluted Weighted Average Shares |
323.3 |
323.4 |
323.4 |
272.1 |
263.4 |
|
Diluted EPS Excl Extraord Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Diluted EPS Incl Extraord Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Dividends per Share - Common Stock Primary Issue |
0.05 |
0.05 |
0.05 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
15.1 |
15.4 |
16.5 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
6.1 |
6.4 |
15.3 |
16.0 |
17.1 |
|
Interest Capitalized, Supplemental |
- |
-1.8 |
-8.1 |
- |
- |
|
Depreciation, Supplemental |
- |
16.8 |
14.6 |
15.7 |
14.6 |
|
Total Special Items |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Tax |
50.5 |
40.7 |
65.9 |
36.9 |
44.4 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
4.1 |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Normalized Income After Tax |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Diluted Normalized EPS |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Amort of Intangibles, Supplemental |
- |
0.0 |
0.0 |
- |
- |
|
Rental Expenses |
- |
0.1 |
0.1 |
0.3 |
0.0 |
|
Advertising Expense, Supplemental |
- |
0.1 |
0.1 |
0.2 |
0.1 |
|
Normalized EBIT |
60.3 |
50.6 |
91.9 |
49.2 |
50.6 |
|
Normalized EBITDA |
60.3 |
67.4 |
106.5 |
64.8 |
65.1 |
|
Current Tax - Domestic |
- |
2.3 |
2.0 |
1.4 |
1.0 |
|
Current Tax - Total |
- |
2.3 |
2.0 |
1.4 |
1.0 |
|
Deferred Tax - Domestic |
- |
1.0 |
5.3 |
-7.3 |
1.3 |
|
Deferred Tax - Total |
- |
1.0 |
5.3 |
-7.3 |
1.3 |
|
Other Tax |
- |
0.0 |
0.1 |
0.0 |
- |
|
Income Tax - Total |
- |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Interest Cost - Domestic |
- |
0.4 |
0.3 |
0.2 |
0.2 |
|
Service Cost - Domestic |
- |
0.6 |
0.4 |
0.5 |
0.4 |
|
Actuarial Gains and Losses - Domestic |
- |
0.2 |
0.2 |
-0.1 |
0.1 |
|
Domestic Pension Plan Expense |
- |
1.2 |
0.9 |
0.6 |
0.7 |
|
Defined Contribution Expense - Domestic |
- |
- |
- |
- |
2.3 |
|
Total Pension Expense |
- |
1.2 |
0.9 |
0.6 |
3.1 |
|
Discount Rate - Domestic |
- |
14.00% |
13.00% |
12.00% |
10.00% |
|
Compensation Rate - Domestic |
- |
14.00% |
13.00% |
12.00% |
10.00% |
|
Total Plan Interest Cost |
- |
0.4 |
0.3 |
0.2 |
0.2 |
|
Total Plan Service Cost |
- |
0.6 |
0.4 |
0.5 |
0.4 |
Interim
Income Statement
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.292258 |
85.487912 |
85.79172 |
85.692742 |
84.610538 |
|
|
|
|
|
|
|
|
Gross Revenue |
108.4 |
94.9 |
90.5 |
77.5 |
91.6 |
|
Sales Returns and Allowances |
-0.8 |
-0.5 |
-0.5 |
-0.6 |
- |
|
Excise Tax Receipts |
-19.8 |
-18.3 |
-14.9 |
-11.7 |
-15.0 |
|
Revenue |
87.8 |
76.1 |
75.1 |
65.2 |
76.6 |
|
Total Revenue |
87.8 |
76.1 |
75.1 |
65.2 |
76.6 |
|
|
|
|
|
|
|
|
Cost of Revenue |
56.4 |
51.9 |
49.0 |
45.0 |
56.6 |
|
Cost of Revenue, Total |
56.4 |
51.9 |
49.0 |
45.0 |
56.6 |
|
Gross Profit |
31.4 |
24.2 |
26.1 |
20.2 |
20.0 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
9.7 |
8.8 |
14.3 |
8.7 |
11.4 |
|
Total Selling/General/Administrative Expenses |
9.7 |
8.8 |
14.3 |
8.7 |
11.4 |
|
Total Operating Expense |
66.0 |
60.7 |
63.3 |
53.7 |
68.0 |
|
|
|
|
|
|
|
|
Operating Income |
21.7 |
15.4 |
11.8 |
11.5 |
8.6 |
|
|
|
|
|
|
|
|
Interest Income (Expense) - Net Non-Operating |
-1.2 |
-1.4 |
-1.8 |
-1.7 |
-1.8 |
|
Interest Income (Expense) - Net Non-Operating Total |
-1.2 |
-1.4 |
-1.8 |
-1.7 |
-1.8 |
|
Other Non-Operating Income (Expense) |
-1.4 |
-1.0 |
-0.7 |
-0.7 |
-0.5 |
|
Other, Net |
-1.4 |
-1.0 |
-0.7 |
-0.7 |
-0.5 |
|
Income Before Tax |
19.1 |
13.0 |
9.3 |
9.1 |
6.4 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.6 |
1.1 |
0.8 |
0.7 |
-0.4 |
|
Income After Tax |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
Net Income |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
323.9 |
323.1 |
323.3 |
323.0 |
323.8 |
|
Basic EPS Excl Extraord Items |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Basic/Primary EPS Incl Extraord Items |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Diluted Net Income |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
Diluted Weighted Average Shares |
323.9 |
323.1 |
323.3 |
323.0 |
323.8 |
|
Diluted EPS Excl Extraord Items |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Diluted EPS Incl Extraord Items |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.05 |
0.00 |
0.00 |
0.00 |
0.05 |
|
Gross Dividends - Common Stock |
15.2 |
0.0 |
0.0 |
0.0 |
15.3 |
|
Depreciation, Supplemental |
- |
13.8 |
4.7 |
4.4 |
- |
|
Normalized Income Before Tax |
19.1 |
13.0 |
9.3 |
9.1 |
6.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.6 |
1.1 |
0.8 |
0.7 |
-0.4 |
|
Normalized Income After Tax |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Diluted Normalized EPS |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Amort of Intangibles, Supplemental |
- |
0.0 |
0.0 |
0.0 |
- |
|
Normalized EBIT |
21.7 |
15.4 |
11.8 |
11.5 |
8.6 |
|
Normalized EBITDA |
21.7 |
29.1 |
16.4 |
15.9 |
8.6 |
|
Current Tax - Total |
- |
0.8 |
0.8 |
0.7 |
- |
|
Current Tax - Total |
- |
0.8 |
0.8 |
0.7 |
- |
|
Deferred Tax - Total |
- |
0.4 |
0.0 |
0.0 |
- |
|
Deferred Tax - Total |
- |
0.4 |
0.0 |
0.0 |
- |
|
Income Tax - Total |
- |
1.1 |
0.8 |
0.7 |
- |
Annual
Balance Sheet
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.97 |
85.525 |
81.44 |
68.45 |
60.47 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
4.1 |
3.9 |
3.0 |
3.4 |
20.5 |
|
Short Term Investments |
- |
- |
9.8 |
0.5 |
- |
|
Cash and Short Term Investments |
4.1 |
3.9 |
12.9 |
3.9 |
20.5 |
|
Trade Accounts Receivable - Net |
7.2 |
9.1 |
15.6 |
10.5 |
7.9 |
|
Other Receivables |
10.1 |
12.8 |
11.3 |
33.7 |
16.8 |
|
Total Receivables, Net |
17.4 |
21.9 |
26.9 |
44.2 |
24.6 |
|
Inventories - Finished Goods |
- |
- |
3.2 |
1.9 |
2.4 |
|
Inventories - Work In Progress |
- |
- |
7.3 |
4.2 |
5.1 |
|
Inventories - Raw Materials |
88.0 |
54.0 |
46.7 |
65.1 |
36.6 |
|
Inventories - Other |
- |
- |
-0.6 |
- |
0.0 |
|
Total Inventory |
88.0 |
54.0 |
56.6 |
71.1 |
44.2 |
|
Prepaid Expenses |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Current Assets |
0.4 |
0.6 |
0.1 |
2.7 |
0.2 |
|
Other Current Assets, Total |
0.4 |
0.6 |
0.1 |
2.7 |
0.2 |
|
Total Current Assets |
109.9 |
80.3 |
96.5 |
122.1 |
89.5 |
|
|
|
|
|
|
|
|
Buildings |
- |
- |
71.4 |
68.0 |
73.8 |
|
Land/Improvements |
- |
- |
9.1 |
10.4 |
3.8 |
|
Machinery/Equipment |
- |
- |
328.5 |
285.7 |
303.4 |
|
Construction in
Progress |
- |
- |
26.3 |
70.6 |
3.3 |
|
Other
Property/Plant/Equipment |
- |
- |
1.4 |
1.1 |
0.8 |
|
Property/Plant/Equipment - Gross |
- |
- |
436.7 |
435.8 |
385.2 |
|
Accumulated Depreciation |
- |
- |
-62.4 |
-57.7 |
-49.2 |
|
Property/Plant/Equipment - Net |
368.8 |
366.9 |
374.2 |
378.1 |
336.0 |
|
Intangibles, Net |
0.0 |
0.0 |
0.0 |
- |
- |
|
LT Investments - Other |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Note Receivable - Long Term |
0.6 |
0.6 |
0.7 |
0.0 |
- |
|
Total Assets |
479.4 |
447.9 |
471.4 |
500.2 |
425.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
47.0 |
35.6 |
15.7 |
28.6 |
15.6 |
|
Accrued Expenses |
1.0 |
1.8 |
8.6 |
9.4 |
7.3 |
|
Notes Payable/Short Term Debt |
73.3 |
73.3 |
76.0 |
52.7 |
47.4 |
|
Current Portion - Long Term Debt/Capital Leases |
3.1 |
2.1 |
0.0 |
3.5 |
26.7 |
|
Dividends Payable |
- |
- |
0.2 |
0.2 |
0.2 |
|
Customer Advances |
- |
- |
2.9 |
3.0 |
1.7 |
|
Other Payables |
- |
- |
4.9 |
2.1 |
3.7 |
|
Other Current Liabilities |
- |
- |
3.5 |
12.8 |
2.5 |
|
Other Current liabilities, Total |
- |
- |
11.5 |
18.1 |
8.2 |
|
Total Current Liabilities |
124.4 |
112.7 |
111.7 |
112.3 |
105.1 |
|
|
|
|
|
|
|
|
Long Term Debt |
7.7 |
19.4 |
52.8 |
96.9 |
137.8 |
|
Total Long Term Debt |
7.7 |
19.4 |
52.8 |
96.9 |
137.8 |
|
Total Debt |
84.1 |
94.7 |
128.8 |
153.1 |
211.9 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
19.2 |
18.3 |
18.2 |
15.5 |
25.1 |
|
Deferred Income Tax |
19.2 |
18.3 |
18.2 |
15.5 |
25.1 |
|
Other Long Term Liabilities |
5.0 |
4.1 |
3.2 |
3.0 |
2.9 |
|
Other Liabilities, Total |
5.0 |
4.1 |
3.2 |
3.0 |
2.9 |
|
Total Liabilities |
156.3 |
154.5 |
185.9 |
227.7 |
270.8 |
|
|
|
|
|
|
|
|
Common Stock |
37.6 |
37.8 |
39.7 |
47.2 |
43.6 |
|
Common Stock |
37.6 |
37.8 |
39.7 |
47.2 |
43.6 |
|
Additional Paid-In Capital |
- |
- |
90.2 |
107.3 |
16.4 |
|
Retained Earnings (Accumulated Deficit) |
285.4 |
255.6 |
155.6 |
118.0 |
94.8 |
|
Total Equity |
323.1 |
293.4 |
285.5 |
272.5 |
154.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
479.4 |
447.9 |
471.4 |
500.2 |
425.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
323.4 |
323.4 |
323.4 |
323.4 |
263.4 |
|
Total Common Shares Outstanding |
323.4 |
323.4 |
323.4 |
323.4 |
263.4 |
|
Deferred Revenue - Current |
- |
- |
2.9 |
3.0 |
1.7 |
|
Pension Obligation - Domestic |
- |
- |
2.9 |
2.5 |
2.4 |
|
Funded Status - Domestic |
- |
- |
-2.9 |
-2.5 |
-2.4 |
|
Total Funded Status |
- |
- |
-2.9 |
-2.5 |
-2.4 |
|
Discount Rate - Domestic |
- |
- |
13.00% |
12.00% |
10.00% |
|
Compensation Rate - Domestic |
- |
- |
13.00% |
12.00% |
10.00% |
|
Total Plan Obligations |
- |
- |
2.9 |
2.5 |
2.4 |
Interim
Balance Sheet
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.97 |
85.4 |
85.645 |
86.285 |
85.525 |
|
|
|
|
|
|
|
|
Cash |
4.1 |
5.1 |
4.3 |
2.7 |
3.9 |
|
Cash and Short Term Investments |
4.1 |
5.1 |
4.3 |
2.7 |
3.9 |
|
Trade Accounts Receivable - Net |
7.2 |
8.4 |
10.4 |
9.4 |
9.1 |
|
Other Receivables |
10.1 |
12.9 |
13.7 |
13.4 |
12.8 |
|
Total Receivables, Net |
17.4 |
21.3 |
24.1 |
22.8 |
21.9 |
|
Inventories - Raw Materials |
73.4 |
74.7 |
57.2 |
54.4 |
46.9 |
|
Inventories - Other |
14.5 |
11.4 |
16.3 |
12.9 |
7.1 |
|
Total Inventory |
88.0 |
86.1 |
73.5 |
67.3 |
54.0 |
|
Other Current Assets |
0.4 |
0.6 |
0.7 |
0.8 |
0.6 |
|
Other Current Assets, Total |
0.4 |
0.6 |
0.7 |
0.8 |
0.6 |
|
Total Current Assets |
109.9 |
113.0 |
102.6 |
93.6 |
80.3 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
368.8 |
364.0 |
364.3 |
363.7 |
366.9 |
|
Intangibles, Net |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
LT Investments - Other |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Long Term Investments |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Note Receivable - Long Term |
0.6 |
0.6 |
0.6 |
0.7 |
0.6 |
|
Total Assets |
479.4 |
477.8 |
467.6 |
458.0 |
447.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
47.0 |
40.6 |
44.8 |
30.2 |
35.6 |
|
Accrued Expenses |
1.0 |
1.0 |
1.9 |
1.5 |
1.8 |
|
Notes Payable/Short Term Debt |
73.3 |
93.4 |
90.7 |
91.8 |
73.3 |
|
Current Portion - Long Term Debt/Capital Leases |
3.1 |
3.1 |
3.1 |
2.8 |
2.1 |
|
Total Current Liabilities |
124.4 |
138.0 |
140.5 |
126.4 |
112.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
7.7 |
8.5 |
9.2 |
9.9 |
19.4 |
|
Total Long Term Debt |
7.7 |
8.5 |
9.2 |
9.9 |
19.4 |
|
Total Debt |
84.1 |
105.0 |
103.1 |
104.6 |
94.7 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
19.2 |
18.7 |
18.2 |
18.1 |
18.3 |
|
Deferred Income Tax |
19.2 |
18.7 |
18.2 |
18.1 |
18.3 |
|
Other Long Term Liabilities |
5.0 |
4.9 |
4.6 |
4.4 |
4.1 |
|
Other Liabilities, Total |
5.0 |
4.9 |
4.6 |
4.4 |
4.1 |
|
Total Liabilities |
156.3 |
170.1 |
172.7 |
158.8 |
154.5 |
|
|
|
|
|
|
|
|
Common Stock |
37.6 |
37.9 |
37.8 |
37.5 |
37.8 |
|
Common Stock |
37.6 |
37.9 |
37.8 |
37.5 |
37.8 |
|
Additional Paid-In Capital |
- |
86.0 |
85.7 |
85.1 |
85.9 |
|
Retained Earnings (Accumulated Deficit) |
285.4 |
183.8 |
171.5 |
176.7 |
169.8 |
|
Total Equity |
323.1 |
307.7 |
295.0 |
299.3 |
293.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
479.4 |
477.8 |
467.6 |
458.0 |
447.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
323.4 |
323.4 |
323.4 |
323.4 |
323.4 |
|
Total Common Shares Outstanding |
323.4 |
323.4 |
323.4 |
323.4 |
323.4 |
Annual
Cash Flows
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.565587 |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
- |
40.8 |
65.9 |
36.9 |
44.4 |
|
Depreciation |
- |
16.8 |
14.6 |
15.7 |
14.6 |
|
Depreciation/Depletion |
- |
16.8 |
14.6 |
15.7 |
14.6 |
|
Amortization of Intangibles |
- |
0.0 |
0.0 |
- |
- |
|
Amortization |
- |
0.0 |
0.0 |
- |
- |
|
Unusual Items |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Cash Items |
- |
8.2 |
17.0 |
2.7 |
13.8 |
|
Non-Cash Items |
- |
8.2 |
17.0 |
2.7 |
13.8 |
|
Accounts Receivable |
- |
4.3 |
3.9 |
- |
- |
|
Inventories |
- |
-0.4 |
2.8 |
- |
- |
|
Other Assets |
- |
-1.4 |
9.9 |
-62.2 |
-28.8 |
|
Accounts Payable |
- |
4.2 |
-11.1 |
- |
- |
|
Other Liabilities |
- |
- |
- |
32.0 |
-0.9 |
|
Other Operating Cash Flow |
- |
-9.8 |
-20.0 |
-5.4 |
-12.6 |
|
Changes in Working Capital |
- |
-3.0 |
-14.5 |
-35.6 |
-42.3 |
|
Cash from Operating Activities |
- |
62.8 |
82.9 |
19.6 |
30.5 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
- |
-27.7 |
-73.6 |
-104.2 |
-33.7 |
|
Capital Expenditures |
- |
-27.7 |
-73.6 |
-104.2 |
-33.7 |
|
Sale of Fixed Assets |
- |
0.1 |
0.5 |
0.5 |
0.1 |
|
Other Investing Cash Flow Items, Total |
- |
0.1 |
0.5 |
0.5 |
0.1 |
|
Cash from Investing Activities |
- |
-27.6 |
-73.1 |
-103.7 |
-33.6 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
- |
-15.3 |
0.0 |
-5.2 |
-4.3 |
|
Total Cash Dividends Paid |
- |
-15.3 |
0.0 |
-5.2 |
-4.3 |
|
Short Term Debt Issued |
- |
2.6 |
52.8 |
-11.4 |
32.4 |
|
Short Term Debt, Net |
- |
2.6 |
52.8 |
-11.4 |
32.4 |
|
Long Term Debt Issued |
- |
- |
- |
111.2 |
- |
|
Long Term Debt, Net |
- |
-29.4 |
-32.8 |
62.0 |
-42.8 |
|
Issuance (Retirement) of Debt, Net |
- |
-26.8 |
20.1 |
50.6 |
-10.4 |
|
Cash from Financing Activities |
- |
-42.1 |
20.1 |
45.4 |
-14.7 |
|
|
|
|
|
|
|
|
Net Change in Cash |
- |
-6.9 |
29.9 |
-38.7 |
-17.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
- |
10.9 |
-18.3 |
15.7 |
34.0 |
|
Net Cash - Ending Balance |
- |
4.0 |
11.6 |
-23.0 |
16.2 |
|
Cash Interest Paid |
- |
7.7 |
16.5 |
2.6 |
12.0 |
|
Cash Taxes Paid |
- |
2.0 |
2.6 |
2.7 |
0.4 |
Interim
Cash Flows
Standardized
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
9 Months |
6 Months |
3 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.656455 |
85.739297 |
85.692742 |
83.860328 |
83.615985 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
31.4 |
18.4 |
9.1 |
40.8 |
34.4 |
|
Depreciation |
13.7 |
9.0 |
4.4 |
16.8 |
12.4 |
|
Depreciation/Depletion |
13.7 |
9.0 |
4.4 |
16.8 |
12.4 |
|
Amortization of Intangibles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Amortization |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Unusual Items |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Cash Items |
5.7 |
4.0 |
2.0 |
8.2 |
5.7 |
|
Non-Cash Items |
5.7 |
4.0 |
2.0 |
8.2 |
5.7 |
|
Accounts Receivable |
- |
- |
-0.3 |
4.3 |
- |
|
Inventories |
- |
- |
-13.9 |
-0.4 |
- |
|
Other Assets |
-32.4 |
-22.7 |
0.0 |
-0.4 |
10.8 |
|
Accounts Payable |
- |
- |
-5.1 |
4.2 |
- |
|
Other Liabilities |
4.8 |
7.1 |
-1.4 |
-0.9 |
-0.7 |
|
Other Operating Cash Flow |
-6.8 |
-4.1 |
-2.4 |
-9.8 |
-7.5 |
|
Changes in Working Capital |
-34.4 |
-19.7 |
-22.9 |
-3.0 |
2.5 |
|
Cash from Operating Activities |
16.4 |
11.7 |
-7.5 |
62.8 |
55.0 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-10.4 |
-7.0 |
-4.4 |
-27.7 |
-24.7 |
|
Capital Expenditures |
-10.4 |
-7.0 |
-4.4 |
-27.7 |
-24.7 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Cash from Investing Activities |
-10.4 |
-7.0 |
-4.4 |
-27.6 |
-24.7 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
-15.0 |
-12.9 |
0.0 |
-15.3 |
-15.3 |
|
Total Cash Dividends Paid |
-15.0 |
-12.9 |
0.0 |
-15.3 |
-15.3 |
|
Short Term Debt, Net |
19.9 |
17.5 |
19.3 |
2.6 |
3.5 |
|
Long Term Debt, Net |
-9.9 |
-9.1 |
-8.6 |
-29.4 |
-25.1 |
|
Issuance (Retirement) of Debt, Net |
10.1 |
8.5 |
10.7 |
-26.8 |
-21.7 |
|
Cash from Financing Activities |
-4.9 |
-4.4 |
10.7 |
-42.1 |
-37.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
1.1 |
0.4 |
-1.1 |
-6.9 |
-6.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
3.9 |
3.9 |
3.9 |
10.9 |
10.9 |
|
Net Cash - Ending Balance |
5.0 |
4.2 |
2.8 |
4.0 |
4.2 |
|
Cash Interest Paid |
5.6 |
3.3 |
2.0 |
7.7 |
5.9 |
|
Cash Taxes Paid |
1.1 |
0.8 |
0.4 |
2.0 |
1.5 |
Annual
Income Statement
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.565587 |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Gross Sales |
371.3 |
- |
- |
- |
274.1 |
|
Local Sales |
- |
169.2 |
192.0 |
184.5 |
- |
|
Export Sales |
- |
177.2 |
201.5 |
148.4 |
- |
|
Sales Tax |
-64.8 |
-50.4 |
-55.6 |
-59.8 |
-67.6 |
|
Rebates and Commission |
-2.4 |
-3.8 |
-2.8 |
-1.9 |
- |
|
Total Revenue |
304.1 |
292.3 |
335.1 |
271.1 |
206.5 |
|
|
|
|
|
|
|
|
Cost of Sales |
202.3 |
197.1 |
210.2 |
201.4 |
145.9 |
|
Salaries |
- |
0.5 |
0.5 |
0.5 |
- |
|
Advertising |
- |
0.1 |
0.1 |
0.2 |
- |
|
Depreciation |
- |
0.9 |
0.8 |
0.8 |
- |
|
Distribution Cost/Expenses |
37.8 |
39.4 |
29.6 |
0.8 |
1.8 |
|
Salaries |
- |
1.3 |
1.0 |
1.1 |
- |
|
Advertising |
- |
0.0 |
0.0 |
0.0 |
- |
|
Depreciation |
- |
0.1 |
0.1 |
0.2 |
- |
|
Amortization |
- |
0.0 |
0.0 |
- |
- |
|
Administrative Expenses |
3.7 |
2.1 |
0.9 |
17.0 |
8.2 |
|
Total Operating Expense |
243.7 |
241.7 |
243.2 |
221.9 |
155.9 |
|
|
|
|
|
|
|
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
10.0 |
|
Gain on disposal of fixed assets |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net exchange differences |
- |
0.0 |
0.3 |
0.0 |
0.4 |
|
Financial Charges |
-6.1 |
-6.8 |
-15.7 |
-16.4 |
-17.1 |
|
Fair Value Gain on The Interest Rate |
- |
- |
0.0 |
14.3 |
2.9 |
|
Workers Profit Participation Fund |
- |
-2.2 |
-3.5 |
-1.9 |
-2.3 |
|
Others |
-3.8 |
-0.9 |
-1.4 |
- |
- |
|
Exchange Loss |
- |
0.0 |
-5.6 |
-8.4 |
- |
|
Net Income Before Taxes |
50.5 |
40.8 |
65.9 |
36.9 |
44.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
4.1 |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Net Income After Taxes |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
Net Income |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
323.3 |
323.4 |
323.4 |
272.1 |
263.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Basic EPS Including ExtraOrdinary Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Dilution Adjustment |
- |
- |
- |
- |
0.0 |
|
Diluted Net Income |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
Diluted Weighted Average Shares |
323.3 |
323.4 |
323.4 |
272.1 |
263.4 |
|
Diluted EPS Excluding ExtraOrd Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Diluted EPS Including ExtraOrd Items |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
DPS-Ordinary Shares |
0.05 |
0.05 |
0.05 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
15.1 |
15.4 |
16.5 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
50.5 |
40.7 |
65.9 |
36.9 |
44.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
4.1 |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Normalized Income After Taxes |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
46.4 |
37.4 |
58.5 |
42.8 |
42.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Diluted Normalized EPS |
0.14 |
0.12 |
0.18 |
0.16 |
0.16 |
|
Interest Expense |
6.1 |
6.4 |
15.3 |
16.0 |
17.1 |
|
Depreciation |
- |
16.8 |
14.6 |
15.7 |
14.6 |
|
Amort of Intangibles, Supplemental |
- |
0.0 |
0.0 |
- |
- |
|
Interest Capitalized, Supplemental |
- |
-1.8 |
-8.1 |
- |
- |
|
Advertising |
- |
0.1 |
0.1 |
0.2 |
0.1 |
|
Rent |
- |
0.1 |
0.1 |
0.3 |
0.0 |
|
Current Tax |
- |
2.3 |
2.0 |
1.4 |
1.0 |
|
Current Tax - Total |
- |
2.3 |
2.0 |
1.4 |
1.0 |
|
Deferred Tax |
- |
1.0 |
5.3 |
-7.3 |
1.3 |
|
Deferred Tax - Total |
- |
1.0 |
5.3 |
-7.3 |
1.3 |
|
Prior Year |
- |
0.0 |
0.1 |
0.0 |
- |
|
Income Tax - Total |
- |
3.3 |
7.4 |
-5.9 |
2.4 |
|
Current Service Cost - Pension |
- |
0.6 |
0.4 |
0.5 |
0.4 |
|
Interest Cost - Pension |
- |
0.4 |
0.3 |
0.2 |
0.2 |
|
Actuarial Gain/Loss - Pension |
- |
0.2 |
0.2 |
-0.1 |
0.1 |
|
Domestic Pension Plan Expense |
- |
1.2 |
0.9 |
0.6 |
0.7 |
|
Defined Contribution Expenses - Domestic |
- |
- |
- |
- |
2.3 |
|
Total Pension Expense |
- |
1.2 |
0.9 |
0.6 |
3.1 |
|
Salary Increase Rate - Pension |
- |
14.00% |
13.00% |
12.00% |
10.00% |
|
Discount Rate - Pension |
- |
14.00% |
13.00% |
12.00% |
10.00% |
Interim
Income Statement
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.292258 |
85.487912 |
85.79172 |
85.692742 |
84.610538 |
|
|
|
|
|
|
|
|
Sales |
108.4 |
94.9 |
90.5 |
77.5 |
91.6 |
|
Sales Tax & Excise Duty |
-19.8 |
-18.3 |
-14.9 |
-11.7 |
-15.0 |
|
Rebate & Commission |
-0.8 |
-0.5 |
-0.5 |
-0.6 |
- |
|
Total Revenue |
87.8 |
76.1 |
75.1 |
65.2 |
76.6 |
|
|
|
|
|
|
|
|
Cost of Sales |
56.4 |
51.9 |
49.0 |
45.0 |
56.6 |
|
Selling and Distribution |
8.5 |
8.2 |
13.1 |
8.0 |
10.4 |
|
Administration |
1.2 |
0.7 |
1.2 |
0.7 |
0.9 |
|
Total Operating Expense |
66.0 |
60.7 |
63.3 |
53.7 |
68.0 |
|
|
|
|
|
|
|
|
Financial Charges |
-1.2 |
-1.4 |
-1.8 |
-1.7 |
-1.8 |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Charges |
-1.4 |
-1.0 |
-0.7 |
-0.7 |
-0.5 |
|
Net Income Before Taxes |
19.1 |
13.0 |
9.3 |
9.1 |
6.4 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1.6 |
1.1 |
0.8 |
0.7 |
-0.4 |
|
Net Income After Taxes |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
Net Income |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
323.9 |
323.1 |
323.3 |
323.0 |
323.8 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Basic EPS Including ExtraOrdinary Items |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Diluted Net Income |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
Diluted Weighted Average Shares |
323.9 |
323.1 |
323.3 |
323.0 |
323.8 |
|
Diluted EPS Excluding ExtraOrd Items |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Diluted EPS Including ExtraOrd Items |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
DPS-Ordinary Shares |
0.05 |
0.00 |
0.00 |
0.00 |
0.05 |
|
Gross Dividends - Common Stock |
15.2 |
0.0 |
0.0 |
0.0 |
15.3 |
|
Normalized Income Before Taxes |
19.1 |
13.0 |
9.3 |
9.1 |
6.4 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.6 |
1.1 |
0.8 |
0.7 |
-0.4 |
|
Normalized Income After Taxes |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
17.5 |
11.9 |
8.6 |
8.5 |
6.8 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Diluted Normalized EPS |
0.05 |
0.04 |
0.03 |
0.03 |
0.02 |
|
Depreciation |
- |
13.8 |
4.7 |
4.4 |
- |
|
Amort of Intangibles, Supplemental |
- |
0.0 |
0.0 |
0.0 |
- |
|
Current Tax |
- |
0.8 |
0.8 |
0.7 |
- |
|
Current Tax - Total |
- |
0.8 |
0.8 |
0.7 |
- |
|
Deferred Tax |
- |
0.4 |
0.0 |
0.0 |
- |
|
Deferred Tax - Total |
- |
0.4 |
0.0 |
0.0 |
- |
|
Income Tax - Total |
- |
1.1 |
0.8 |
0.7 |
- |
Annual
Balance Sheet
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
Restated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.97 |
85.525 |
81.44 |
68.45 |
60.47 |
|
Auditor |
|
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
|
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Spares |
73.4 |
46.9 |
20.0 |
- |
15.5 |
|
Stores and Spares |
14.5 |
7.1 |
22.5 |
60.8 |
17.4 |
|
Provision for Slow Moving Spares |
- |
- |
-0.6 |
- |
0.0 |
|
Raw and Packing Materials |
- |
- |
4.2 |
4.3 |
3.6 |
|
Work-in-Process |
- |
- |
7.3 |
4.2 |
5.1 |
|
Finished Goods |
- |
- |
3.2 |
1.9 |
2.4 |
|
Trade Debtors |
- |
- |
- |
- |
7.9 |
|
Bill Receivabe |
- |
- |
14.1 |
9.1 |
- |
|
Trade Debtors- Others |
7.2 |
9.1 |
1.5 |
1.5 |
- |
|
Loans and Advances |
0.8 |
1.0 |
1.3 |
1.6 |
4.0 |
|
Trade Deposits |
- |
- |
- |
- |
0.2 |
|
Margin Against Letters of credit |
- |
- |
0.0 |
2.6 |
- |
|
Trade Deposits |
0.4 |
0.6 |
0.1 |
0.1 |
- |
|
Other Receivables |
2.5 |
2.4 |
0.7 |
13.0 |
3.0 |
|
Taxation Refund |
6.3 |
6.3 |
6.6 |
7.9 |
8.9 |
|
Taxation |
0.5 |
1.7 |
2.2 |
1.9 |
0.8 |
|
Sales Tax Refundable |
0.0 |
1.4 |
0.5 |
9.3 |
0.0 |
|
Cash and Bank Balances |
4.1 |
3.9 |
2.8 |
3.1 |
20.5 |
|
Short Term Prepayment |
- |
- |
0.0 |
0.0 |
0.0 |
|
Current Account |
- |
- |
0.2 |
0.3 |
- |
|
Savings account |
- |
- |
9.8 |
0.5 |
- |
|
Total Current Assets |
109.9 |
80.3 |
96.5 |
122.1 |
89.5 |
|
|
|
|
|
|
|
|
Plant and Machinery |
368.8 |
366.9 |
- |
- |
- |
|
Intangibles, Net |
0.0 |
0.0 |
0.0 |
- |
- |
|
Land |
- |
- |
9.1 |
10.4 |
3.8 |
|
Building |
- |
- |
71.4 |
68.0 |
73.8 |
|
Plant and Machinery |
- |
- |
228.5 |
207.3 |
230.5 |
|
Generators |
- |
- |
80.1 |
57.6 |
52.7 |
|
Quarry Equipments |
- |
- |
9.7 |
9.4 |
10.6 |
|
Vehicles |
- |
- |
7.9 |
9.0 |
7.1 |
|
Furniture and Fixtures |
- |
- |
0.5 |
0.6 |
0.6 |
|
Office Equipments |
- |
- |
1.2 |
1.3 |
1.3 |
|
Computer Equipments |
- |
- |
0.5 |
0.6 |
0.6 |
|
Other Assets |
- |
- |
1.4 |
1.1 |
0.8 |
|
Depreciation |
- |
- |
-62.4 |
-57.7 |
-49.2 |
|
Capital Work-in-Progress |
- |
- |
26.3 |
70.6 |
3.3 |
|
Long Term Advances |
0.6 |
0.6 |
0.7 |
0.0 |
- |
|
Long Term Deposits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Assets |
479.4 |
447.9 |
471.4 |
500.2 |
425.5 |
|
|
|
|
|
|
|
|
Creditors |
47.0 |
35.6 |
9.9 |
7.4 |
6.0 |
|
Accrued Mark Up |
1.0 |
1.8 |
2.9 |
4.2 |
5.4 |
|
Short Term Finances |
73.3 |
73.3 |
76.0 |
52.7 |
47.4 |
|
Current Portion of Long Term Finance |
3.1 |
2.1 |
0.0 |
3.5 |
26.7 |
|
Bills Payable |
- |
- |
5.8 |
21.2 |
9.5 |
|
Accrued Expenses |
- |
- |
3.4 |
2.6 |
1.9 |
|
Advances from Customers |
- |
- |
2.9 |
3.0 |
1.7 |
|
Retention Money |
- |
- |
4.9 |
2.1 |
3.7 |
|
Workers Profit Participation Fund |
- |
- |
2.1 |
1.9 |
2.5 |
|
Workers Welfare Fund |
- |
- |
1.4 |
- |
- |
|
Unclaimed Dividend |
- |
- |
0.2 |
0.2 |
0.2 |
|
Other |
- |
- |
0.0 |
0.1 |
0.0 |
|
Excise duty payable |
- |
- |
2.3 |
2.5 |
0.0 |
|
Fair Value Loss on the Cross Curr. Swap |
- |
- |
0.0 |
10.8 |
0.0 |
|
Total Current Liabilities |
124.4 |
112.7 |
111.7 |
112.3 |
105.1 |
|
|
|
|
|
|
|
|
Loans |
7.7 |
19.4 |
52.8 |
96.9 |
137.8 |
|
Total Long Term Debt |
7.7 |
19.4 |
52.8 |
96.9 |
137.8 |
|
|
|
|
|
|
|
|
Deposits |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Staff Liabilities |
4.6 |
3.7 |
2.9 |
2.5 |
2.4 |
|
Deferred Taxation |
19.2 |
18.3 |
18.2 |
15.5 |
25.1 |
|
Total Liabilities |
156.3 |
154.5 |
185.9 |
227.7 |
270.8 |
|
|
|
|
|
|
|
|
Ordinary Shares |
37.6 |
37.8 |
39.7 |
47.2 |
43.6 |
|
Share Premium |
- |
- |
90.2 |
107.3 |
16.4 |
|
Reserves |
285.4 |
255.6 |
- |
- |
49.6 |
|
General Reserves |
- |
- |
61.4 |
73.0 |
- |
|
Unappropriated Profit |
- |
- |
94.2 |
45.0 |
45.1 |
|
Total Equity |
323.1 |
293.4 |
285.5 |
272.5 |
154.7 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
479.4 |
447.9 |
471.4 |
500.2 |
425.5 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
323.4 |
323.4 |
323.4 |
323.4 |
263.4 |
|
Total Common Shares Outstanding |
323.4 |
323.4 |
323.4 |
323.4 |
263.4 |
|
Deferred Revenue |
- |
- |
2.9 |
3.0 |
1.7 |
|
PV of Funded Obligations - Pension |
- |
- |
2.9 |
2.5 |
2.4 |
|
Funded Status - Pension |
- |
- |
-2.9 |
-2.5 |
-2.4 |
|
Total Funded Status |
- |
- |
-2.9 |
-2.5 |
-2.4 |
|
Salary Increase Rate - Pension |
- |
- |
13.00% |
12.00% |
10.00% |
|
Discount Rate - Pension |
- |
- |
13.00% |
12.00% |
10.00% |
Interim
Balance Sheet
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.97 |
85.4 |
85.645 |
86.285 |
85.525 |
|
|
|
|
|
|
|
|
Stores and Spares |
73.4 |
74.7 |
57.2 |
54.4 |
46.9 |
|
Stock-in-Trade |
14.5 |
11.4 |
16.3 |
12.9 |
7.1 |
|
Trade Debtors |
7.2 |
8.4 |
10.4 |
9.4 |
9.1 |
|
Loans and Advances |
0.8 |
1.3 |
1.0 |
1.0 |
1.0 |
|
Trade Deposits/ST Prepayments |
0.4 |
0.6 |
0.7 |
0.8 |
0.6 |
|
Other Receivables |
2.5 |
2.2 |
2.3 |
2.1 |
2.4 |
|
Taxation Refund |
6.3 |
6.3 |
6.3 |
6.2 |
6.3 |
|
Taxation |
0.5 |
0.6 |
1.1 |
1.4 |
1.7 |
|
Sales Tax Refundable |
0.0 |
2.5 |
3.1 |
2.7 |
1.4 |
|
Cash and Bank Balances |
4.1 |
5.1 |
4.3 |
2.7 |
3.9 |
|
Total Current Assets |
109.9 |
113.0 |
102.6 |
93.6 |
80.3 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment, Net |
368.8 |
364.0 |
364.3 |
363.7 |
366.9 |
|
Intangibles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Long Term Advance |
0.6 |
0.6 |
0.6 |
0.7 |
0.6 |
|
Long Term Deposits |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Total Assets |
479.4 |
477.8 |
467.6 |
458.0 |
447.9 |
|
|
|
|
|
|
|
|
Trade and Other Payable |
47.0 |
40.6 |
44.8 |
30.2 |
35.6 |
|
Accrued Mark Up |
1.0 |
1.0 |
1.9 |
1.5 |
1.8 |
|
Short Term Finances |
73.3 |
93.4 |
90.7 |
91.8 |
73.3 |
|
Current Portion of Long Term Finance |
3.1 |
3.1 |
3.1 |
2.8 |
2.1 |
|
Total Current Liabilities |
124.4 |
138.0 |
140.5 |
126.4 |
112.7 |
|
|
|
|
|
|
|
|
Loans |
7.7 |
8.5 |
9.2 |
9.9 |
19.4 |
|
Total Long Term Debt |
7.7 |
8.5 |
9.2 |
9.9 |
19.4 |
|
|
|
|
|
|
|
|
Deferred Tax |
19.2 |
18.7 |
18.2 |
18.1 |
18.3 |
|
Deferred Liabilities |
4.6 |
4.5 |
4.2 |
4.0 |
3.7 |
|
Deposits |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Total Liabilities |
156.3 |
170.1 |
172.7 |
158.8 |
154.5 |
|
|
|
|
|
|
|
|
Ordinary Shares |
37.6 |
37.9 |
37.8 |
37.5 |
37.8 |
|
Reserves |
285.4 |
- |
- |
- |
- |
|
Share Premium |
- |
86.0 |
85.7 |
85.1 |
85.9 |
|
General Reserve |
- |
146.4 |
146.0 |
144.9 |
116.9 |
|
Unappropriated Profit |
- |
37.5 |
25.5 |
31.8 |
52.8 |
|
Total Equity |
323.1 |
307.7 |
295.0 |
299.3 |
293.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
479.4 |
477.8 |
467.6 |
458.0 |
447.9 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
323.4 |
323.4 |
323.4 |
323.4 |
323.4 |
|
Total Common Shares Outstanding |
323.4 |
323.4 |
323.4 |
323.4 |
323.4 |
Annual
Cash Flows
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-2006 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Restated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ford Rhodes
Sidat Hyder & Co. |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
40.8 |
65.9 |
36.9 |
44.4 |
42.6 |
|
Depreciation |
16.8 |
14.6 |
15.7 |
14.6 |
7.0 |
|
Amortization on Intangible Asset |
0.0 |
0.0 |
- |
- |
- |
|
Provision for Slow Moving Spares |
0.3 |
0.6 |
0.1 |
- |
- |
|
Gain on Disposal Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Liability Writte off |
- |
- |
0.0 |
-1.1 |
0.0 |
|
Provision for Gratuity |
1.2 |
0.9 |
0.6 |
0.7 |
1.2 |
|
Foregin Exchange |
0.0 |
-0.3 |
- |
- |
- |
|
Financial Charges |
6.8 |
15.7 |
2.0 |
14.2 |
1.4 |
|
Changes in Current Assets |
- |
- |
-62.2 |
-28.8 |
-20.1 |
|
Changes in Current Liabilities |
- |
- |
32.0 |
-0.9 |
23.5 |
|
Stores and Spares |
-7.4 |
9.0 |
- |
- |
- |
|
Stock-in-Trade |
7.0 |
-6.2 |
- |
- |
- |
|
Trade Debtors |
5.8 |
-7.0 |
- |
- |
- |
|
Advances, Deposits, Other |
0.0 |
0.0 |
- |
- |
- |
|
Trade Deposits & Short Term Prepayments |
-0.5 |
2.3 |
- |
- |
- |
|
Tax Refundable |
-0.9 |
7.6 |
- |
- |
- |
|
Other Receivable |
-1.5 |
10.8 |
- |
- |
- |
|
Trade amd Other Payables |
4.2 |
-11.1 |
- |
- |
- |
|
Finance Costs Paid |
-7.7 |
-16.5 |
-2.6 |
-12.0 |
-9.6 |
|
Gratuity Paid |
-0.1 |
-0.2 |
-0.1 |
-0.2 |
-0.1 |
|
Income Tax Paid |
-2.0 |
-2.6 |
-2.7 |
-0.4 |
-0.5 |
|
Long Term Advances Paid |
0.0 |
-0.7 |
- |
- |
- |
|
Long Term Deposits |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Cash from Operating Activities |
62.8 |
82.9 |
19.6 |
30.5 |
45.5 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-27.7 |
-73.6 |
-104.2 |
-33.7 |
-101.1 |
|
Disposal Fixed Assets |
0.1 |
0.5 |
0.5 |
0.1 |
0.0 |
|
Cash from Investing Activities |
-27.6 |
-73.1 |
-103.7 |
-33.6 |
-101.1 |
|
|
|
|
|
|
|
|
LT Loans |
-29.4 |
-32.8 |
-49.2 |
-42.8 |
90.1 |
|
Long Term Deposits |
2.6 |
52.8 |
-11.4 |
32.4 |
10.8 |
|
Proceeds from Issue of GDR |
- |
- |
111.2 |
- |
- |
|
Dividend Paid |
-15.3 |
0.0 |
-5.2 |
-4.3 |
0.0 |
|
Cash from Financing Activities |
-42.1 |
20.1 |
45.4 |
-14.7 |
100.9 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-6.9 |
29.9 |
-38.7 |
-17.8 |
45.2 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
10.9 |
-18.3 |
15.7 |
34.0 |
-10.8 |
|
Net Cash Ending Balance |
4.0 |
11.6 |
-23.0 |
16.2 |
34.5 |
|
Cash Interest Paid |
7.7 |
16.5 |
2.6 |
12.0 |
- |
|
Cash Taxes Paid |
2.0 |
2.6 |
2.7 |
0.4 |
0.5 |
Interim
Cash Flows
As Reported
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
|
Period Length |
9 Months |
6 Months |
3 Months |
12 Months |
9 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.656455 |
85.739297 |
85.692742 |
83.860328 |
83.615985 |
|
|
|
|
|
|
|
|
Net Income |
31.4 |
18.4 |
9.1 |
40.8 |
34.4 |
|
Depreciation |
13.7 |
9.0 |
4.4 |
16.8 |
12.4 |
|
Amortization of Intangible Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Provision for Slow Moving Spares |
- |
- |
- |
0.3 |
- |
|
Gain on Disposal Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Provision for Gratuity |
0.9 |
0.6 |
0.3 |
1.2 |
0.7 |
|
Gain on Fair Value of Foreign Ex. |
- |
- |
- |
0.0 |
- |
|
Financial Charges |
4.8 |
3.4 |
1.7 |
6.8 |
5.0 |
|
Increase in
Current Assets |
-32.4 |
-22.7 |
- |
- |
10.8 |
|
Increase in
Current Liabilities |
4.8 |
7.1 |
- |
- |
-0.7 |
|
Stores and Spares |
- |
- |
-8.0 |
-7.4 |
- |
|
Stock-in-Trade |
- |
- |
-5.9 |
7.0 |
- |
|
Trade Debtors |
- |
- |
-0.4 |
5.8 |
- |
|
Advances, Deposits,
Other |
- |
- |
0.3 |
0.0 |
- |
|
Trade Deposits
& Short Term Prepayments |
- |
- |
-0.2 |
-0.5 |
- |
|
Other Receivables |
- |
- |
0.1 |
-1.5 |
- |
|
Tax Refundables |
- |
- |
-1.4 |
-0.9 |
- |
|
Trade amd Other Payables |
- |
- |
-5.1 |
4.2 |
- |
|
Gratuity Paid |
-0.1 |
-0.1 |
0.0 |
-0.1 |
-0.1 |
|
Financial Charges Paid |
-5.6 |
-3.3 |
-2.0 |
-7.7 |
-5.9 |
|
Income Tax Paid |
-1.1 |
-0.8 |
-0.4 |
-2.0 |
-1.5 |
|
Long Term Advance Paid |
- |
- |
- |
0.0 |
- |
|
Long Term Deposits |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Cash from Operating Activities |
16.4 |
11.7 |
-7.5 |
62.8 |
55.0 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-10.4 |
-7.0 |
-4.4 |
-27.7 |
-24.7 |
|
Disposal Fixed Assets |
0.0 |
0.0 |
0.0 |
0.1 |
0.1 |
|
Cash from Investing Activities |
-10.4 |
-7.0 |
-4.4 |
-27.6 |
-24.7 |
|
|
|
|
|
|
|
|
LT Loans |
-9.9 |
-9.1 |
-8.6 |
-29.4 |
-25.1 |
|
Short Term Borrowings, Net |
19.9 |
17.5 |
19.3 |
2.6 |
3.5 |
|
Dividend Paid |
-15.0 |
-12.9 |
0.0 |
-15.3 |
-15.3 |
|
Cash from Financing Activities |
-4.9 |
-4.4 |
10.7 |
-42.1 |
-37.0 |
|
|
|
|
|
|
|
|
Net Change in Cash |
1.1 |
0.4 |
-1.1 |
-6.9 |
-6.7 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
3.9 |
3.9 |
3.9 |
10.9 |
10.9 |
|
Net Cash Ending Balance |
5.0 |
4.2 |
2.8 |
4.0 |
4.2 |
|
Cash Interest Paid |
5.6 |
3.3 |
2.0 |
7.7 |
5.9 |
|
Cash Taxes Paid |
1.1 |
0.8 |
0.4 |
2.0 |
1.5 |
Geographic
Segments
Financials in: As Reported (mil)
Annual
|
|
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|
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.61 |
|
UK Pound |
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.