MIRA INFORM REPORT
|
Report Date : |
22.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
KOHINOOR MILLS LIMITED |
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Registered Office : |
8th K.M. Manga Raiwind Road, District Kasur, Lahore |
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Country : |
Pakistan |
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Financials (as on) : |
30.06.2010 |
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Date of Incorporation : |
21.12.1987 |
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Legal Form : |
Public Parent Company |
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Line of Business : |
Subject is engaged in the business of textile manufacturing, covering
weaving, knitting, bleaching, dyeing, stitching, buying, selling and dealing
in yarn, bed linen, home furnishing, socks, cloth and other goods and fabrics
made from raw cotton and synthetic fiber, and to generate, distribute and
sell electricity |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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Litigation : |
--- |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Pakistan |
b2 |
b2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
Kohinoor Mills Limited
8th K.M. Manga Raiwind Road
District Kasur
Lahore,
Pakistan
Tel: 92-42-5391941
Fax: 92-42-5391946
Synthesis
Employees: 3,200
Company Type: Public Parent
Corporate Family: 2
Companies
Traded: Karachi
Stock Exchange: KML
Incorporation Date:
21-Dec-1987
Auditor: Riaz Ahmad & Co (CA)
Financials in: USD
(Millions)
Fiscal Year End: 30-Jun-2010
Reporting Currency: Pakistan
Rupee
Annual Sales: 76.4 1
Net Income: (13.9)
Total Assets: 101.2 2
Market Value: 0.8
(28-Sep-2011)
Business Description
Kohinoor Mills
Limited is a Pakistan-based company. The Company is engaged in the business of
textile manufacturing, covering weaving, knitting, bleaching, dyeing,
stitching, buying, selling and dealing in yarn, bed linen, home furnishing,
socks, cloth and other goods and fabrics made from raw cotton and synthetic
fiber, and to generate, distribute and sell electricity. The Company produces
greige cloth from cotton, blended and synthetic yarns. The Company operates in
five divisions: weaving, dyeing, hosiery, genertek and apparel. Q Mart
Corporation (Pvt) Limited is the wholly owned subsidiary of the Company. Q Mart
Corporation (Pvt) Limited is engaged in the business as a retailer in all types
of general merchandise. For the six months ended 31 December 2010, Kohinoor
Mills Limited's revenue decreased 12% to PKR2.78B. Net loss from continuing
operations decreased 5% to PKR441.8M. Revenue reflects a decrease in revenue
from Retail segment and a absence of income from Power generation and Apparel
business segments. Lower loss was offset by decreased finance cost, a fall in
distribution cost and a decrease in administrative expenses.
Industry
Industry Textiles - Non Apparel
ANZSIC 2006: 1332 - Rope,
Cordage and Twine Manufacturing
NACE 2002: 1754 - Manufacture
of other textiles not elsewhere classified
NAICS 2002: 31321 - Broadwoven
Fabric Mills
UK SIC 2003: 17549 -
Manufacture of other textiles not elsewhere classified
US SIC 1987: 2299 - Textile
goods, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Aamir Fayyaz Sheikh |
Chairman of the Board, Chief Executive |
|
Syed Mohsin Raza Naqvi |
Chief Financial Officer, Director |
|
Muhammad Rizwan Khan |
Company Secretary |
|
Taufique S Saigol |
Chief Executive |
|
Bushra Naz Malik |
Chief Financial Officer |
Significant Developments
|
Topic |
#* |
Most Recent Headline |
Date |
|
Divestitures / Spin-offs |
1 |
Kohinoor Mills Limited Announces Sale of Assets |
17-Feb-2011 |
|
Dividends |
1 |
Kohinoor Mills Limited Not to Pay FY 2010-2011 Dividend |
4-Oct-2011 |
* number of significant developments within the last 12 months
news
|
Title |
Date |
|
'Not easy
to provide 1 lakh homes' |
30-Jul-2011 |
|
ISE sheds
56 points |
21-Jun-2011 |
|
Karachi
Stock Exchange - Top Symbols by Price Decrease |
9-May-2011 |
|
Karachi
Stock Exchange - Top Symbols by Percent Increase |
8-Apr-2011 |
|
Karachi
Stock Exchange - Top Symbols by Percent Decrease |
21-Mar-2011 |
Financial Summary
As of 31-Mar-2011
Key Ratios Company Industry
Net Profit Margin (TTM) % -22.32 1.34
Stock Snapshot
|
1 - Profit & Loss Item Exchange Rate: USD 1 = PKR 83.86033
2 - Balance Sheet Item Exchange Rate: USD 1 = PKR 85.525
Corporate Overview
Location
8th K.M. Manga Raiwind Road
District Kasur
Lahore, Pakistan
Tel: 92-42-5391941
Fax: 92-42-5391946
Quote Symbol - Exchange
KML - Karachi
Stock Exchange
Sales PKR(mil): 6,408.9
Assets PKR(mil): 8,657.9
Employees: 3,200
Fiscal Year End: 30-Jun-2010
Industry: Textiles
- Non Apparel
Incorporation Date: 21-Dec-1987
Company Type: Public
Parent
Quoted Status: Quoted
Chairman of the Board,
Chief Executive: Aamir Fayyaz
Sheikh
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Employment Opportunities
· Home Page
Contents
· Industry Codes
· Business Description
· Financial Data
· Market Data
· Shareholders
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1312 - Natural Textile Manufacturing
1332 - Rope, Cordage and Twine Manufacturing
1334 - Textile Finishing and Other Textile Product Manufacturing
26 - Electricity Supply
NACE 2002 Codes:
1730 - Finishing of textiles
4011 - Production of electricity
1754 - Manufacture of other textiles not elsewhere classified
171 - Preparation and spinning of textile fibres
NAICS 2002 Codes:
2211 - Electric Power Generation
313111 - Yarn Spinning Mills
31321 - Broadwoven Fabric Mills
313311 - Broadwoven Fabric Finishing Mills
US SIC 1987:
2261 - Finishers of Broadwoven Fabrics of Cotton
2281 - Yarn Spinning Mills
2299 - Textile goods, Not Elsewhere Classified
4911 - Electric Services
UK SIC 2003:
1730 - Finishing of textiles
4011 - Production of electricity
17549 - Manufacture of other textiles not elsewhere classified
171 - Preparation and spinning of textile fibres
Business
Description
Kohinoor Mills
Limited is a Pakistan-based company. The Company is engaged in the business of
textile manufacturing, covering weaving, knitting, bleaching, dyeing,
stitching, buying, selling and dealing in yarn, bed linen, home furnishing,
socks, cloth and other goods and fabrics made from raw cotton and synthetic
fiber, and to generate, distribute and sell electricity. The Company produces
greige cloth from cotton, blended and synthetic yarns. The Company operates in
five divisions: weaving, dyeing, hosiery, genertek and apparel. Q Mart
Corporation (Pvt) Limited is the wholly owned subsidiary of the Company. Q Mart
Corporation (Pvt) Limited is engaged in the business as a retailer in all types
of general merchandise. For the six months ended 31 December 2010, Kohinoor
Mills Limited's revenue decreased 12% to PKR2.78B. Net loss from continuing
operations decreased 5% to PKR441.8M. Revenue reflects a decrease in revenue
from Retail segment and a absence of income from Power generation and Apparel
business segments. Lower loss was offset by decreased finance cost, a fall in
distribution cost and a decrease in administrative expenses.
More Business
Descriptions
Manufacture of yarn and cloth, processing and stitching the cloth and
trade of textile products
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Corporate
Family |
Corporate
Structure News: |
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Kohinoor Mills
Limited |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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|
Parent |
Lahore |
Pakistan |
Textiles - Non Apparel |
76.4 |
3,200 |
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Subsidiary |
Lahore |
Pakistan |
Construction - Raw Materials |
162.5 |
832 |
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Executive report
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Significant Developments
Kohinoor Mills
Limited Not to Pay FY 2010-2011 Dividend Oct 04, 2011
Kohinoor Mills
Limited announced that it is not to pay dividend for fiscal year ended June 30,
2011.
Kohinoor Mills
Limited Announces Sale of Assets Feb 17, 2011
Kohinoor Mills
Limited announced that it is planning to sell industrial land up to
approximately 85 acres and its apparel factory building situated at 8th
Kilometer Manga Ralwind Road, District Kasur. It will also sell 300 stitching
machines with ancillary equipment with book value of PKR 100.3 million as of
December 31, 2010. These machines belongs to the plant and machinery under its
Apparel Division. It is also underway to conclude the transaction of the
disposal of assets belonging to its Hosiery Division.
Annual Income Statement
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 |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
56.5 |
69.5 |
63.8 |
125.5 |
106.8 |
|
Gross Revenue |
20.6 |
29.9 |
34.5 |
- |
- |
|
Excise Tax Receipts |
-0.6 |
-1.3 |
-0.3 |
- |
- |
|
Revenue |
76.4 |
98.1 |
98.0 |
125.5 |
106.8 |
|
Total Revenue |
76.4 |
98.1 |
98.0 |
125.5 |
106.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
72.2 |
89.5 |
85.2 |
107.0 |
93.5 |
|
Cost of Revenue, Total |
72.2 |
89.5 |
85.2 |
107.0 |
93.5 |
|
Gross Profit |
4.2 |
8.6 |
12.8 |
18.5 |
13.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
5.8 |
7.2 |
6.3 |
7.9 |
6.9 |
|
Labor & Related Expense |
2.0 |
2.2 |
2.3 |
- |
- |
|
Advertising Expense |
0.0 |
0.1 |
0.1 |
- |
- |
|
Total Selling/General/Administrative Expenses |
7.8 |
9.5 |
8.7 |
7.9 |
6.9 |
|
Research & Development |
- |
0.0 |
0.3 |
- |
- |
|
Depreciation |
0.3 |
0.3 |
0.2 |
- |
- |
|
Amortization of Intangibles |
0.0 |
0.0 |
0.0 |
- |
- |
|
Depreciation/Amortization |
0.4 |
0.3 |
0.3 |
- |
- |
|
Investment Income -
Operating |
0.1 |
-1.4 |
0.8 |
- |
- |
|
Interest/Investment Income - Operating |
0.1 |
-1.4 |
0.8 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
0.1 |
-1.4 |
0.8 |
- |
- |
|
Impairment-Assets Held for Sale |
0.9 |
0.8 |
0.0 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Unusual Expense (Income) |
0.8 |
0.7 |
0.0 |
- |
- |
|
Other Operating Expense |
0.6 |
0.0 |
0.0 |
0.5 |
0.2 |
|
Other, Net |
-0.9 |
-0.7 |
-0.4 |
-0.8 |
-0.7 |
|
Other Operating Expenses, Total |
-0.2 |
-0.7 |
-0.4 |
-0.2 |
-0.5 |
|
Total Operating Expense |
81.1 |
98.0 |
94.9 |
114.6 |
99.8 |
|
|
|
|
|
|
|
|
Operating Income |
-4.7 |
0.2 |
3.1 |
10.9 |
6.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-8.6 |
-8.4 |
-7.9 |
-8.0 |
-6.8 |
|
Interest Expense, Net Non-Operating |
-8.6 |
-8.4 |
-7.9 |
-8.0 |
-6.8 |
|
Investment Income -
Non-Operating |
0.0 |
-0.6 |
- |
- |
- |
|
Interest/Investment Income - Non-Operating |
0.0 |
-0.6 |
- |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
-8.6 |
-9.0 |
-7.9 |
-8.0 |
-6.8 |
|
Income Before Tax |
-13.3 |
-8.8 |
-4.8 |
2.9 |
0.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.6 |
0.6 |
0.7 |
1.0 |
1.0 |
|
Income After Tax |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
Net Income |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
50.9 |
50.9 |
49.6 |
36.4 |
36.4 |
|
Basic EPS Excl Extraord Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Basic/Primary EPS Incl Extraord Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
Diluted Weighted Average Shares |
50.9 |
50.9 |
49.6 |
36.4 |
36.4 |
|
Diluted EPS Excl Extraord Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Diluted EPS Incl Extraord Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.02 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
2.4 |
0.0 |
|
Interest Expense, Supplemental |
7.8 |
7.8 |
6.5 |
7.5 |
6.8 |
|
Depreciation, Supplemental |
3.9 |
3.5 |
4.1 |
25.6 |
4.5 |
|
Total Special Items |
0.8 |
0.7 |
0.0 |
- |
- |
|
Normalized Income Before Tax |
-12.5 |
-8.1 |
-4.8 |
2.9 |
0.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.3 |
0.3 |
0.0 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
0.9 |
0.8 |
0.7 |
1.0 |
1.0 |
|
Normalized Income After Tax |
-13.4 |
-8.9 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-13.4 |
-8.9 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.26 |
-0.18 |
-0.11 |
0.05 |
-0.02 |
|
Diluted Normalized EPS |
-0.26 |
-0.18 |
-0.11 |
0.05 |
-0.02 |
|
Amort of Intangibles, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Expenses |
0.0 |
0.0 |
0.0 |
- |
- |
|
Advertising Expense, Supplemental |
0.0 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Research & Development Exp, Supplemental |
0.0 |
0.0 |
0.3 |
0.2 |
- |
|
Normalized EBIT |
-3.8 |
-0.5 |
3.9 |
10.9 |
6.9 |
|
Normalized EBITDA |
0.1 |
3.0 |
8.1 |
36.5 |
11.4 |
|
Current Tax - Domestic |
0.7 |
0.7 |
0.7 |
1.1 |
1.0 |
|
Current Tax - Other |
0.0 |
0.1 |
0.1 |
- |
- |
|
Current Tax - Total |
0.6 |
0.8 |
0.8 |
1.1 |
1.0 |
|
Deferred Tax - Domestic |
0.0 |
-0.2 |
0.0 |
0.0 |
- |
|
Deferred Tax - Other |
- |
- |
- |
-0.1 |
0.0 |
|
Deferred Tax - Total |
0.0 |
-0.2 |
0.0 |
-0.1 |
0.0 |
|
Income Tax - Total |
0.6 |
0.6 |
0.7 |
1.0 |
1.0 |
|
Defined Contribution Expense - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
- |
|
Total Pension Expense |
0.1 |
0.1 |
0.1 |
0.1 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.525 |
81.44 |
68.45 |
60.47 |
60.21 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.7 |
0.3 |
0.6 |
2.2 |
3.0 |
|
Short Term Investments |
3.4 |
5.2 |
16.1 |
20.0 |
4.4 |
|
Cash and Short Term Investments |
4.1 |
5.6 |
16.7 |
22.2 |
7.4 |
|
Accounts Receivable -
Trade, Gross |
9.6 |
10.7 |
- |
- |
- |
|
Provision for Doubtful
Accounts |
-0.6 |
0.0 |
- |
- |
- |
|
Trade Accounts Receivable - Net |
9.1 |
10.7 |
11.3 |
16.3 |
17.3 |
|
Other Receivables |
6.4 |
5.0 |
12.8 |
10.5 |
10.0 |
|
Total Receivables, Net |
15.5 |
15.7 |
24.2 |
26.8 |
27.3 |
|
Inventories - Finished Goods |
7.7 |
7.7 |
10.9 |
6.9 |
8.7 |
|
Inventories - Work In Progress |
2.8 |
3.8 |
5.6 |
6.1 |
7.3 |
|
Inventories - Raw Materials |
6.4 |
7.6 |
12.5 |
11.5 |
10.8 |
|
Inventories - Other |
0.5 |
0.4 |
0.3 |
0.0 |
0.0 |
|
Total Inventory |
17.3 |
19.6 |
29.3 |
24.5 |
26.8 |
|
Prepaid Expenses |
1.0 |
1.1 |
0.0 |
- |
- |
|
Other Current Assets |
0.1 |
0.0 |
0.0 |
1.1 |
0.0 |
|
Other Current Assets, Total |
0.1 |
0.0 |
0.0 |
1.1 |
0.0 |
|
Total Current Assets |
38.0 |
41.9 |
70.2 |
74.6 |
61.5 |
|
|
|
|
|
|
|
|
Buildings |
16.7 |
17.4 |
13.6 |
- |
- |
|
Land/Improvements |
9.9 |
10.5 |
2.2 |
- |
- |
|
Machinery/Equipment |
63.8 |
66.0 |
71.9 |
- |
- |
|
Construction in
Progress |
0.5 |
0.9 |
2.5 |
- |
- |
|
Property/Plant/Equipment - Gross |
90.9 |
94.8 |
90.3 |
- |
- |
|
Accumulated Depreciation |
-28.4 |
-26.5 |
-28.6 |
- |
- |
|
Property/Plant/Equipment - Net |
62.5 |
68.3 |
61.7 |
66.5 |
68.1 |
|
Goodwill, Net |
0.4 |
0.4 |
0.5 |
0.0 |
- |
|
Intangibles - Gross |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Accumulated Intangible Amortization |
-0.1 |
-0.1 |
-0.1 |
0.0 |
0.0 |
|
Intangibles, Net |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
LT Investments - Other |
0.0 |
0.0 |
0.0 |
0.0 |
0.2 |
|
Long Term Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.2 |
|
Note Receivable - Long Term |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Deferred Income Tax - Long Term Asset |
0.3 |
0.3 |
0.1 |
- |
- |
|
Other Long Term Assets, Total |
0.3 |
0.3 |
0.1 |
- |
- |
|
Total Assets |
101.2 |
111.1 |
132.7 |
141.2 |
129.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
12.4 |
11.5 |
11.1 |
8.2 |
11.6 |
|
Accrued Expenses |
0.9 |
1.1 |
0.9 |
2.7 |
3.1 |
|
Notes Payable/Short Term Debt |
56.6 |
56.1 |
61.4 |
56.5 |
51.4 |
|
Current Portion - Long Term Debt/Capital Leases |
12.7 |
4.6 |
8.3 |
10.8 |
9.1 |
|
Dividends Payable |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Customer Advances |
1.8 |
0.8 |
0.9 |
0.3 |
0.0 |
|
Security Deposits |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Income Taxes Payable |
1.1 |
0.9 |
0.6 |
1.3 |
1.8 |
|
Other Payables |
0.4 |
0.4 |
0.3 |
0.5 |
0.5 |
|
Other Current Liabilities |
- |
- |
- |
0.2 |
0.0 |
|
Other Current liabilities, Total |
3.5 |
2.2 |
1.9 |
2.3 |
2.5 |
|
Total Current Liabilities |
86.1 |
75.5 |
83.5 |
80.5 |
77.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
4.0 |
11.6 |
13.2 |
15.2 |
23.9 |
|
Total Long Term Debt |
4.0 |
11.6 |
13.2 |
15.2 |
23.9 |
|
Total Debt |
73.3 |
72.4 |
82.9 |
82.5 |
84.4 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1.1 |
0.8 |
3.7 |
4.2 |
0.0 |
|
Deferred Income Tax |
1.1 |
0.8 |
3.7 |
4.2 |
0.0 |
|
Pension Benefits - Underfunded |
- |
0.0 |
0.0 |
0.0 |
- |
|
Other Liabilities, Total |
- |
0.0 |
0.0 |
0.0 |
- |
|
Total Liabilities |
91.2 |
88.0 |
100.4 |
99.9 |
101.6 |
|
|
|
|
|
|
|
|
Common Stock |
6.0 |
6.3 |
7.4 |
6.0 |
5.5 |
|
Common Stock |
6.0 |
6.3 |
7.4 |
6.0 |
5.5 |
|
Additional Paid-In Capital |
2.5 |
2.6 |
3.1 |
1.1 |
1.1 |
|
Retained Earnings (Accumulated Deficit) |
-12.5 |
1.1 |
12.1 |
20.4 |
19.2 |
|
Unrealized Gain (Loss) |
14.0 |
13.1 |
9.6 |
13.7 |
2.5 |
|
Total Equity |
10.0 |
23.0 |
32.3 |
41.3 |
28.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
101.2 |
111.1 |
132.7 |
141.2 |
129.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
50.9 |
50.9 |
50.9 |
36.4 |
33.1 |
|
Total Common Shares Outstanding |
50.9 |
50.9 |
50.9 |
36.4 |
33.1 |
|
Employees |
3,200 |
3,000 |
4,300 |
4,500 |
2,988 |
|
Number of Common Shareholders |
1,697 |
1,751 |
1,801 |
1,713 |
1,762 |
|
Accumulated Intangible Amort, Suppl. |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Deferred Revenue - Current |
1.8 |
0.8 |
0.9 |
0.3 |
0.0 |
|
Total Long Term Debt, Supplemental |
17.3 |
19.8 |
71.4 |
- |
- |
|
Long Term Debt Maturing within 1 Year |
9.3 |
6.0 |
61.7 |
- |
- |
|
Long Term Debt Maturing in Year 2 |
3.1 |
5.5 |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
3.1 |
5.5 |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
4.8 |
8.4 |
9.6 |
- |
- |
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 |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-13.3 |
-8.8 |
-4.8 |
2.9 |
0.1 |
|
Depreciation |
3.9 |
3.5 |
4.1 |
4.3 |
4.5 |
|
Depreciation/Depletion |
3.9 |
3.5 |
4.1 |
4.3 |
4.5 |
|
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 |
0.8 |
-2.3 |
-0.6 |
-0.4 |
-0.4 |
|
Other Non-Cash Items |
9.2 |
8.8 |
7.8 |
8.1 |
6.8 |
|
Non-Cash Items |
10.0 |
6.5 |
7.2 |
7.7 |
6.4 |
|
Accounts Receivable |
-0.8 |
3.5 |
-1.1 |
-0.8 |
-8.7 |
|
Inventories |
1.4 |
5.2 |
-8.2 |
2.2 |
-7.7 |
|
Other Assets |
-0.5 |
0.3 |
0.3 |
0.7 |
3.9 |
|
Accounts Payable |
2.8 |
2.9 |
4.4 |
-3.4 |
4.1 |
|
Accrued Expenses |
- |
- |
- |
0.0 |
0.0 |
|
Other Liabilities |
- |
- |
- |
5.3 |
16.3 |
|
Other Operating Cash Flow |
-5.3 |
-8.9 |
-8.7 |
-9.2 |
-7.1 |
|
Changes in Working Capital |
-2.4 |
3.0 |
-13.3 |
-5.2 |
0.8 |
|
Cash from Operating Activities |
-1.8 |
4.2 |
-6.8 |
9.7 |
11.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1.5 |
-7.2 |
-4.0 |
-4.1 |
-4.6 |
|
Purchase/Acquisition of Intangibles |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Capital Expenditures |
-1.5 |
-7.2 |
-4.1 |
-4.1 |
-4.6 |
|
Acquisition of Business |
- |
- |
- |
0.0 |
- |
|
Sale of Fixed Assets |
0.3 |
0.4 |
0.2 |
0.1 |
0.8 |
|
Sale/Maturity of Investment |
0.0 |
3.1 |
2.1 |
0.8 |
0.0 |
|
Purchase of Investments |
0.0 |
0.0 |
-5.4 |
-0.6 |
0.0 |
|
Other Investing Cash Flow |
0.1 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Other Investing Cash Flow Items, Total |
0.3 |
3.7 |
-3.0 |
0.4 |
0.9 |
|
Cash from Investing Activities |
-1.2 |
-3.5 |
-7.1 |
-3.7 |
-3.8 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
0.0 |
0.0 |
-1.0 |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
0.0 |
0.0 |
-1.0 |
0.0 |
0.0 |
|
Short Term Debt Issued |
0.6 |
4.2 |
11.4 |
- |
- |
|
Short Term Debt, Net |
0.6 |
4.2 |
11.4 |
- |
- |
|
Long Term Debt Issued |
- |
0.0 |
4.7 |
0.0 |
- |
|
Long Term Debt, Net |
0.0 |
-2.1 |
2.4 |
-6.8 |
-7.4 |
|
Issuance (Retirement) of Debt, Net |
0.6 |
2.2 |
13.7 |
-6.8 |
-7.4 |
|
Cash from Financing Activities |
0.6 |
2.2 |
12.7 |
-6.8 |
-7.4 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-2.4 |
2.8 |
-1.2 |
-0.8 |
0.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
3.4 |
0.7 |
2.1 |
3.0 |
2.3 |
|
Net Cash - Ending Balance |
0.9 |
3.6 |
0.9 |
2.2 |
3.0 |
|
Cash Interest Paid |
4.7 |
8.3 |
7.8 |
8.0 |
6.1 |
|
Cash Taxes Paid |
-0.6 |
0.5 |
0.9 |
1.2 |
1.0 |
Annual Income Statement
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 |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
- |
- |
- |
125.5 |
106.8 |
|
Export Sales |
56.5 |
69.5 |
63.8 |
- |
- |
|
Revenues - Gross |
20.6 |
29.9 |
34.5 |
- |
- |
|
Sales Tax |
-0.6 |
-1.3 |
-0.3 |
- |
- |
|
Electricity Duty and Withholding Tax |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Revenue |
76.4 |
98.1 |
98.0 |
125.5 |
106.8 |
|
|
|
|
|
|
|
|
Cost of Goods |
72.2 |
89.5 |
85.2 |
107.0 |
93.5 |
|
Salaries, Wages and Other Benefits |
2.0 |
2.2 |
2.3 |
- |
- |
|
Sales Promotion and Advertising |
0.0 |
0.1 |
0.1 |
- |
- |
|
Depreciation |
0.3 |
0.3 |
0.2 |
- |
- |
|
Research and Development |
- |
0.0 |
0.3 |
- |
- |
|
Amortization |
0.0 |
0.0 |
0.0 |
- |
- |
|
Distribution Costs |
4.5 |
5.7 |
4.8 |
5.5 |
4.9 |
|
Administrative |
1.3 |
1.5 |
1.5 |
2.4 |
1.9 |
|
Impairment Loss on Equity Investment |
0.9 |
0.8 |
0.0 |
- |
- |
|
Loss on Sale of Fixed Assets |
- |
0.0 |
0.0 |
- |
- |
|
Exchange Loss |
0.1 |
1.8 |
1.6 |
- |
- |
|
Other Charges |
0.6 |
0.0 |
0.0 |
0.5 |
0.2 |
|
Gain on Sale of Investment |
0.0 |
-3.0 |
-0.6 |
- |
- |
|
Dividend Income |
0.0 |
-0.2 |
-0.2 |
- |
- |
|
Gain on Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Operating Income |
-0.9 |
-0.7 |
-0.4 |
-0.8 |
-0.7 |
|
Total Operating Expense |
81.1 |
98.0 |
94.9 |
114.6 |
99.8 |
|
|
|
|
|
|
|
|
Financial Charges |
-8.6 |
-8.4 |
-7.9 |
-8.0 |
-6.8 |
|
Loss on cross currency swap |
0.0 |
-0.6 |
- |
- |
- |
|
Net Income Before Taxes |
-13.3 |
-8.8 |
-4.8 |
2.9 |
0.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.6 |
0.6 |
0.7 |
1.0 |
1.0 |
|
Net Income After Taxes |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
Net Income |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
50.9 |
50.9 |
49.6 |
36.4 |
36.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Basic EPS Including ExtraOrdinary Item |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
Diluted Weighted Average Shares |
50.9 |
50.9 |
49.6 |
36.4 |
36.4 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Diluted EPS Including ExtraOrd Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.02 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
2.4 |
0.0 |
|
Normalized Income Before Taxes |
-12.5 |
-8.1 |
-4.8 |
2.9 |
0.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.9 |
0.8 |
0.7 |
1.0 |
1.0 |
|
Normalized Income After Taxes |
-13.4 |
-8.9 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-13.4 |
-8.9 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.26 |
-0.18 |
-0.11 |
0.05 |
-0.02 |
|
Diluted Normalized EPS |
-0.26 |
-0.18 |
-0.11 |
0.05 |
-0.02 |
|
Interest Expense |
7.8 |
7.8 |
6.5 |
7.5 |
6.8 |
|
Depreciation |
3.9 |
3.5 |
4.1 |
25.6 |
4.5 |
|
Advertising Expenses |
0.0 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Amortization of Intangibles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Research & Development |
0.0 |
0.0 |
0.3 |
0.2 |
- |
|
Current Tax |
0.7 |
0.7 |
0.7 |
1.1 |
1.0 |
|
Prior Year |
0.0 |
0.1 |
0.1 |
- |
- |
|
Current Tax - Total |
0.6 |
0.8 |
0.8 |
1.1 |
1.0 |
|
Deferred Tax |
0.0 |
-0.2 |
0.0 |
0.0 |
- |
|
Prior Year |
- |
- |
- |
-0.1 |
0.0 |
|
Deferred Tax - Total |
0.0 |
-0.2 |
0.0 |
-0.1 |
0.0 |
|
Income Tax - Total |
0.6 |
0.6 |
0.7 |
1.0 |
1.0 |
|
Defined Contribution Plan |
0.1 |
0.1 |
0.1 |
0.1 |
- |
|
Total Pension Expense |
0.1 |
0.1 |
0.1 |
0.1 |
- |
Annual Balance Sheet
Financials in: USD (mil)
|
|
30-Jun-2010 |
30-Jun-2009 |
30-Jun-2008 |
30-Jun-2007 |
30-Jun-2006 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.525 |
81.44 |
68.45 |
60.47 |
60.21 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Stores/Spares |
3.7 |
4.5 |
5.6 |
5.0 |
4.3 |
|
Loose Tools |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Raw Material |
2.6 |
3.1 |
6.9 |
6.5 |
6.5 |
|
Work in Process |
2.8 |
3.8 |
5.6 |
6.1 |
7.3 |
|
Finished Goods |
7.7 |
7.7 |
10.9 |
6.9 |
8.7 |
|
Stock of Subsidiary Company |
0.4 |
0.4 |
0.3 |
- |
- |
|
Trade Debts |
- |
- |
11.3 |
16.3 |
17.3 |
|
Trade Debts |
9.6 |
10.7 |
- |
- |
- |
|
Provision for doubtful debts |
-0.6 |
0.0 |
- |
- |
- |
|
Loans and Advances |
3.9 |
3.0 |
8.3 |
4.4 |
3.8 |
|
Trade Deposits & Short Term Prepy. |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Short Term Prepayments |
0.0 |
0.0 |
0.0 |
- |
- |
|
Advance income tax |
1.0 |
1.0 |
- |
- |
- |
|
Other Receivables |
1.1 |
0.9 |
2.8 |
3.9 |
3.2 |
|
Sales Tax Recoverable |
1.4 |
1.1 |
1.7 |
2.2 |
3.0 |
|
Accrued Interest |
- |
- |
- |
0.0 |
0.0 |
|
ST Investment |
3.2 |
2.1 |
15.9 |
20.0 |
4.4 |
|
Non-Current Assets Clas. as Held for Sal |
- |
- |
- |
1.0 |
0.0 |
|
On Deposits Account |
0.2 |
3.1 |
0.2 |
- |
- |
|
Cash/Bank |
0.7 |
0.3 |
0.6 |
2.2 |
3.0 |
|
Total Current Assets |
38.0 |
41.9 |
70.2 |
74.6 |
61.5 |
|
|
|
|
|
|
|
|
Freehold Land |
9.9 |
10.5 |
2.2 |
- |
- |
|
Residential |
4.1 |
4.3 |
1.9 |
- |
- |
|
Factory |
12.5 |
13.1 |
11.6 |
- |
- |
|
Building |
0.2 |
0.1 |
0.1 |
- |
- |
|
Plant/Machinery |
58.9 |
61.1 |
66.3 |
- |
- |
|
Electric Install |
1.5 |
1.6 |
1.8 |
- |
- |
|
Fixt. & Fittings |
1.7 |
1.7 |
1.9 |
- |
- |
|
Computer |
0.6 |
0.6 |
0.6 |
- |
- |
|
Vehicles |
0.9 |
1.0 |
1.3 |
- |
- |
|
Depreciation |
-28.4 |
-26.5 |
-28.6 |
- |
- |
|
Software |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Amortisation |
-0.1 |
-0.1 |
-0.1 |
0.0 |
0.0 |
|
Capital WIP |
0.5 |
0.9 |
2.5 |
- |
- |
|
Property, Plant & Equipment |
- |
- |
- |
66.5 |
68.1 |
|
Goodwill, Net |
0.4 |
0.4 |
0.5 |
0.0 |
- |
|
Investment |
0.0 |
0.0 |
0.0 |
0.0 |
0.2 |
|
LT Security |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Deferred Income Tax |
0.3 |
0.3 |
0.1 |
- |
- |
|
Total Assets |
101.2 |
111.1 |
132.7 |
141.2 |
129.9 |
|
|
|
|
|
|
|
|
Redeemable Cap. |
- |
0.0 |
0.0 |
- |
- |
|
Long Term Financing |
1.9 |
0.7 |
0.6 |
- |
- |
|
Short Term Borrowing |
3.8 |
1.4 |
1.1 |
- |
- |
|
Int. Accrued on Loan & Redeemable Lease |
- |
- |
- |
1.8 |
1.7 |
|
ST Finance |
52.7 |
54.8 |
60.3 |
56.5 |
51.4 |
|
Current Portion of LT Debt |
10.8 |
4.0 |
7.7 |
10.8 |
9.1 |
|
Taxation |
0.6 |
0.7 |
0.6 |
1.2 |
1.8 |
|
Creditors |
12.4 |
11.5 |
11.1 |
8.2 |
11.6 |
|
Customer Advance |
1.8 |
0.8 |
0.9 |
0.3 |
0.0 |
|
Comission Pybl. |
0.4 |
0.3 |
0.3 |
0.4 |
0.5 |
|
Income Tax |
0.5 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Security Deposit |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Payable to Provident Fund |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accrued Liabilities |
0.9 |
1.1 |
0.9 |
0.9 |
1.4 |
|
Unclaimed Dividend |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Workers Part. |
- |
- |
- |
0.2 |
0.0 |
|
Workers' Welfare Fund |
- |
- |
- |
0.1 |
0.0 |
|
Total Current Liabilities |
86.1 |
75.5 |
83.5 |
80.5 |
77.7 |
|
|
|
|
|
|
|
|
Redeemable Cap. |
- |
- |
- |
0.7 |
2.0 |
|
LT Loans |
4.0 |
11.6 |
13.2 |
14.6 |
21.9 |
|
Total Long Term Debt |
4.0 |
11.6 |
13.2 |
15.2 |
23.9 |
|
|
|
|
|
|
|
|
Deferred Tax |
1.1 |
0.8 |
3.7 |
4.2 |
0.0 |
|
Provision for Gratuity |
- |
0.0 |
0.0 |
0.0 |
- |
|
Total Liabilities |
91.2 |
88.0 |
100.4 |
99.9 |
101.6 |
|
|
|
|
|
|
|
|
Capital |
6.0 |
6.3 |
7.4 |
6.0 |
5.5 |
|
Capital Reserve- Premium |
2.5 |
2.6 |
3.1 |
1.1 |
1.1 |
|
Surplus on Revaluation of Investments |
12.0 |
12.7 |
0.0 |
- |
- |
|
Surplus on Revaluation of Investments |
2.0 |
0.4 |
9.6 |
13.7 |
2.5 |
|
Revenue Reserve |
- |
- |
15.5 |
17.5 |
23.1 |
|
Accumulated Unappropriated Profits |
-24.8 |
-11.9 |
-3.4 |
2.9 |
-3.9 |
|
General Reserve |
12.4 |
13.0 |
- |
- |
- |
|
Total Equity |
10.0 |
23.0 |
32.3 |
41.3 |
28.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
101.2 |
111.1 |
132.7 |
141.2 |
129.9 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
50.9 |
50.9 |
50.9 |
36.4 |
33.1 |
|
Total Common Shares Outstanding |
50.9 |
50.9 |
50.9 |
36.4 |
33.1 |
|
Deferred Revenue - Current |
1.8 |
0.8 |
0.9 |
0.3 |
0.0 |
|
Accumulated Amortisation |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Full-Time Employees |
3,200 |
3,000 |
4,300 |
4,500 |
2,988 |
|
Number of Common Shareholders |
1,697 |
1,751 |
1,801 |
1,713 |
1,762 |
|
Long Term Debt Maturing in 1 Year |
9.3 |
6.0 |
61.7 |
- |
- |
|
Long Term Debt Maturing in Year 2 |
3.1 |
5.5 |
- |
- |
- |
|
Long Term Debt Maturing after 2 Year |
4.8 |
8.4 |
9.6 |
- |
- |
|
Total Long Term Debt, Supplemental |
17.3 |
19.8 |
71.4 |
- |
- |
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 |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Profit Before Tax |
-13.3 |
-8.8 |
-4.8 |
2.9 |
0.1 |
|
Depreciation |
3.9 |
3.5 |
4.1 |
4.3 |
4.5 |
|
Disposal Fixed Asset |
0.0 |
0.0 |
0.0 |
0.0 |
-0.4 |
|
Amortisation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividend Income |
0.0 |
-0.2 |
-0.2 |
-0.1 |
0.0 |
|
Gain on Sale of Shares |
0.0 |
-3.0 |
-0.6 |
-0.4 |
0.0 |
|
Impairment Loss on Equity Invest. |
0.9 |
0.8 |
0.0 |
- |
- |
|
Provision for doubtful debts |
0.6 |
0.0 |
- |
- |
- |
|
Provision for Gratuity |
- |
0.0 |
0.0 |
0.0 |
- |
|
Dim. Investments |
- |
0.0 |
0.0 |
0.2 |
0.0 |
|
Financial Charges |
8.6 |
9.0 |
7.9 |
8.1 |
6.8 |
|
Stores/Spares |
0.5 |
0.2 |
-1.3 |
-0.7 |
-0.9 |
|
Stock in Trade |
0.9 |
5.0 |
-7.0 |
3.0 |
-6.8 |
|
Trade Debts |
0.6 |
-1.2 |
3.4 |
0.8 |
-7.4 |
|
Advances/Deposits |
-1.1 |
4.2 |
-4.8 |
-0.6 |
-0.9 |
|
Accrued Interest |
- |
- |
- |
0.0 |
0.0 |
|
Trade Deposits & Short Term Prepayments |
-0.1 |
0.0 |
0.1 |
-0.1 |
0.2 |
|
Other Receivables |
-0.2 |
0.6 |
0.3 |
-1.1 |
-0.4 |
|
Sales Tax Recoverable |
-0.4 |
0.3 |
0.3 |
0.8 |
3.7 |
|
Trade & Other Payables |
2.8 |
2.9 |
4.4 |
-3.4 |
4.1 |
|
ST Finances |
- |
- |
- |
5.3 |
16.3 |
|
Income Tax |
-0.6 |
-0.5 |
-0.9 |
-1.2 |
-1.0 |
|
Gratuity |
0.0 |
0.0 |
0.0 |
- |
- |
|
Financial Charges |
-4.7 |
-8.3 |
-7.8 |
-8.0 |
-6.1 |
|
Cash from Operating Activities |
-1.8 |
4.2 |
-6.8 |
9.7 |
11.8 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-1.5 |
-7.2 |
-4.0 |
-4.1 |
-4.6 |
|
Capital Expenditure on Intangible Assets |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Sale Fixed Assets |
0.3 |
0.4 |
0.2 |
0.1 |
0.8 |
|
Dividend Income |
0.0 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Investments Made |
0.0 |
0.0 |
-5.4 |
-0.6 |
0.0 |
|
Sale of Investments |
0.0 |
3.1 |
2.1 |
0.8 |
0.0 |
|
Investment in Subsidiary |
- |
- |
- |
0.0 |
- |
|
LT Security Deposits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-1.2 |
-3.5 |
-7.1 |
-3.7 |
-3.8 |
|
|
|
|
|
|
|
|
Issue of Right Shares |
- |
0.0 |
4.7 |
0.0 |
- |
|
Redeemable Capital |
0.0 |
-0.5 |
-1.3 |
-1.3 |
-1.3 |
|
Long Term Loans, Net |
0.0 |
-1.6 |
-1.0 |
-5.5 |
-6.0 |
|
Short Term Borrowings |
0.6 |
4.2 |
11.4 |
- |
- |
|
Dividend |
0.0 |
0.0 |
-1.0 |
0.0 |
0.0 |
|
Cash from Financing Activities |
0.6 |
2.2 |
12.7 |
-6.8 |
-7.4 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-2.4 |
2.8 |
-1.2 |
-0.8 |
0.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
3.4 |
0.7 |
2.1 |
3.0 |
2.3 |
|
Net Cash - Ending Balance |
0.9 |
3.6 |
0.9 |
2.2 |
3.0 |
|
Cash Interest Paid |
4.7 |
8.3 |
7.8 |
8.0 |
6.1 |
|
Cash Taxes Paid |
-0.6 |
0.5 |
0.9 |
1.2 |
1.0 |
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-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 |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
56.5 |
69.5 |
63.8 |
125.5 |
106.8 |
|
Gross Revenue |
20.6 |
29.9 |
34.5 |
- |
- |
|
Excise Tax Receipts |
-0.6 |
-1.3 |
-0.3 |
- |
- |
|
Revenue |
76.4 |
98.1 |
98.0 |
125.5 |
106.8 |
|
Total Revenue |
76.4 |
98.1 |
98.0 |
125.5 |
106.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
72.2 |
89.5 |
85.2 |
107.0 |
93.5 |
|
Cost of Revenue, Total |
72.2 |
89.5 |
85.2 |
107.0 |
93.5 |
|
Gross Profit |
4.2 |
8.6 |
12.8 |
18.5 |
13.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
5.8 |
7.2 |
6.3 |
7.9 |
6.9 |
|
Labor & Related Expense |
2.0 |
2.2 |
2.3 |
- |
- |
|
Advertising Expense |
0.0 |
0.1 |
0.1 |
- |
- |
|
Total Selling/General/Administrative Expenses |
7.8 |
9.5 |
8.7 |
7.9 |
6.9 |
|
Research & Development |
- |
0.0 |
0.3 |
- |
- |
|
Depreciation |
0.3 |
0.3 |
0.2 |
- |
- |
|
Amortization of Intangibles |
0.0 |
0.0 |
0.0 |
- |
- |
|
Depreciation/Amortization |
0.4 |
0.3 |
0.3 |
- |
- |
|
Investment Income -
Operating |
0.1 |
-1.4 |
0.8 |
- |
- |
|
Interest/Investment Income - Operating |
0.1 |
-1.4 |
0.8 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
0.1 |
-1.4 |
0.8 |
- |
- |
|
Impairment-Assets Held for Sale |
0.9 |
0.8 |
0.0 |
- |
- |
|
Loss (Gain) on Sale of Assets - Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Unusual Expense (Income) |
0.8 |
0.7 |
0.0 |
- |
- |
|
Other Operating Expense |
0.6 |
0.0 |
0.0 |
0.5 |
0.2 |
|
Other, Net |
-0.9 |
-0.7 |
-0.4 |
-0.8 |
-0.7 |
|
Other Operating Expenses, Total |
-0.2 |
-0.7 |
-0.4 |
-0.2 |
-0.5 |
|
Total Operating Expense |
81.1 |
98.0 |
94.9 |
114.6 |
99.8 |
|
|
|
|
|
|
|
|
Operating Income |
-4.7 |
0.2 |
3.1 |
10.9 |
6.9 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-8.6 |
-8.4 |
-7.9 |
-8.0 |
-6.8 |
|
Interest Expense, Net Non-Operating |
-8.6 |
-8.4 |
-7.9 |
-8.0 |
-6.8 |
|
Investment Income -
Non-Operating |
0.0 |
-0.6 |
- |
- |
- |
|
Interest/Investment Income - Non-Operating |
0.0 |
-0.6 |
- |
- |
- |
|
Interest Income (Expense) - Net Non-Operating Total |
-8.6 |
-9.0 |
-7.9 |
-8.0 |
-6.8 |
|
Income Before Tax |
-13.3 |
-8.8 |
-4.8 |
2.9 |
0.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.6 |
0.6 |
0.7 |
1.0 |
1.0 |
|
Income After Tax |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
Net Income |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
50.9 |
50.9 |
49.6 |
36.4 |
36.4 |
|
Basic EPS Excl Extraord Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Basic/Primary EPS Incl Extraord Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
Diluted Weighted Average Shares |
50.9 |
50.9 |
49.6 |
36.4 |
36.4 |
|
Diluted EPS Excl Extraord Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Diluted EPS Incl Extraord Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.02 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
2.4 |
0.0 |
|
Interest Expense, Supplemental |
7.8 |
7.8 |
6.5 |
7.5 |
6.8 |
|
Depreciation, Supplemental |
3.9 |
3.5 |
4.1 |
25.6 |
4.5 |
|
Total Special Items |
0.8 |
0.7 |
0.0 |
- |
- |
|
Normalized Income Before Tax |
-12.5 |
-8.1 |
-4.8 |
2.9 |
0.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.3 |
0.3 |
0.0 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
0.9 |
0.8 |
0.7 |
1.0 |
1.0 |
|
Normalized Income After Tax |
-13.4 |
-8.9 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-13.4 |
-8.9 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.26 |
-0.18 |
-0.11 |
0.05 |
-0.02 |
|
Diluted Normalized EPS |
-0.26 |
-0.18 |
-0.11 |
0.05 |
-0.02 |
|
Amort of Intangibles, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Expenses |
0.0 |
0.0 |
0.0 |
- |
- |
|
Advertising Expense, Supplemental |
0.0 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Research & Development Exp, Supplemental |
0.0 |
0.0 |
0.3 |
0.2 |
- |
|
Normalized EBIT |
-3.8 |
-0.5 |
3.9 |
10.9 |
6.9 |
|
Normalized EBITDA |
0.1 |
3.0 |
8.1 |
36.5 |
11.4 |
|
Current Tax - Domestic |
0.7 |
0.7 |
0.7 |
1.1 |
1.0 |
|
Current Tax - Other |
0.0 |
0.1 |
0.1 |
- |
- |
|
Current Tax - Total |
0.6 |
0.8 |
0.8 |
1.1 |
1.0 |
|
Deferred Tax - Domestic |
0.0 |
-0.2 |
0.0 |
0.0 |
- |
|
Deferred Tax - Other |
- |
- |
- |
-0.1 |
0.0 |
|
Deferred Tax - Total |
0.0 |
-0.2 |
0.0 |
-0.1 |
0.0 |
|
Income Tax - Total |
0.6 |
0.6 |
0.7 |
1.0 |
1.0 |
|
Defined Contribution Expense - Domestic |
0.1 |
0.1 |
0.1 |
0.1 |
- |
|
Total Pension Expense |
0.1 |
0.1 |
0.1 |
0.1 |
- |
Interim Income Statement
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 |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated
Calculated |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.487912 |
85.79172 |
85.692742 |
84.610538 |
84.618242 |
|
|
|
|
|
|
|
|
Net Sales |
13.3 |
16.6 |
15.8 |
22.1 |
16.5 |
|
Revenue |
13.3 |
16.6 |
15.8 |
22.1 |
16.5 |
|
Total Revenue |
13.3 |
16.6 |
15.8 |
22.1 |
16.5 |
|
|
|
|
|
|
|
|
Cost of Revenue |
16.4 |
16.2 |
15.0 |
21.5 |
15.7 |
|
Cost of Revenue, Total |
16.4 |
16.2 |
15.0 |
21.5 |
15.7 |
|
Gross Profit |
-3.0 |
0.4 |
0.9 |
0.6 |
0.8 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
1.2 |
1.3 |
1.6 |
2.6 |
1.8 |
|
Total Selling/General/Administrative Expenses |
1.2 |
1.3 |
1.6 |
2.6 |
1.8 |
|
Other Operating Expense |
0.1 |
0.0 |
0.0 |
0.7 |
0.0 |
|
Other, Net |
-1.5 |
0.0 |
-0.1 |
-0.4 |
-0.2 |
|
Other Operating Expenses, Total |
-1.4 |
0.0 |
0.0 |
0.3 |
-0.2 |
|
Total Operating Expense |
16.2 |
17.5 |
16.5 |
24.4 |
17.3 |
|
|
|
|
|
|
|
|
Operating Income |
-2.8 |
-0.9 |
-0.7 |
-2.4 |
-0.8 |
|
|
|
|
|
|
|
|
Interest Income (Expense) - Net Non-Operating |
-1.7 |
-1.8 |
-1.5 |
-2.7 |
-2.0 |
|
Interest Income (Expense) - Net Non-Operating Total |
-1.7 |
-1.8 |
-1.5 |
-2.7 |
-2.0 |
|
Other Non-Operating Income (Expense) |
- |
0.0 |
0.0 |
- |
- |
|
Other, Net |
- |
0.0 |
0.0 |
- |
- |
|
Income Before Tax |
-4.6 |
-2.6 |
-2.2 |
-5.1 |
-2.9 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.1 |
0.2 |
0.1 |
0.2 |
0.1 |
|
Income After Tax |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
Discontinued Operations |
-0.9 |
-2.9 |
-1.1 |
- |
0.0 |
|
Total Extraord Items |
-0.9 |
-2.9 |
-1.1 |
- |
0.0 |
|
Net Income |
-5.5 |
-5.8 |
-3.5 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-5.5 |
-5.8 |
-3.5 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
50.9 |
50.9 |
50.9 |
50.9 |
50.9 |
|
Basic EPS Excl Extraord Items |
-0.09 |
-0.06 |
-0.05 |
-0.10 |
-0.06 |
|
Basic/Primary EPS Incl Extraord Items |
-0.11 |
-0.11 |
-0.07 |
-0.10 |
-0.06 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-5.5 |
-5.8 |
-3.5 |
-5.3 |
-3.0 |
|
Diluted Weighted Average Shares |
50.9 |
50.9 |
50.9 |
50.9 |
50.9 |
|
Diluted EPS Excl Extraord Items |
-0.09 |
-0.06 |
-0.05 |
-0.10 |
-0.06 |
|
Diluted EPS Incl Extraord Items |
-0.11 |
-0.11 |
-0.07 |
-0.10 |
-0.06 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Depreciation, Supplemental |
- |
0.8 |
0.9 |
1.0 |
0.9 |
|
Normalized Income Before Tax |
-4.6 |
-2.6 |
-2.2 |
-5.1 |
-2.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.1 |
0.2 |
0.1 |
0.2 |
0.1 |
|
Normalized Income After Tax |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.09 |
-0.06 |
-0.05 |
-0.10 |
-0.06 |
|
Diluted Normalized EPS |
-0.09 |
-0.06 |
-0.05 |
-0.10 |
-0.06 |
|
Amort of Intangibles, Supplemental |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized EBIT |
-2.8 |
-0.9 |
-0.7 |
-2.4 |
-0.8 |
|
Normalized EBITDA |
-2.8 |
0.0 |
0.2 |
-1.3 |
0.1 |
|
Defined Contribution Expense - Domestic |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Pension Expense |
- |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
Standardized
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 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.525 |
81.44 |
68.45 |
60.47 |
60.21 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash |
0.7 |
0.3 |
0.6 |
2.2 |
3.0 |
|
Short Term Investments |
3.4 |
5.2 |
16.1 |
20.0 |
4.4 |
|
Cash and Short Term Investments |
4.1 |
5.6 |
16.7 |
22.2 |
7.4 |
|
Accounts Receivable -
Trade, Gross |
9.6 |
10.7 |
- |
- |
- |
|
Provision for Doubtful
Accounts |
-0.6 |
0.0 |
- |
- |
- |
|
Trade Accounts Receivable - Net |
9.1 |
10.7 |
11.3 |
16.3 |
17.3 |
|
Other Receivables |
6.4 |
5.0 |
12.8 |
10.5 |
10.0 |
|
Total Receivables, Net |
15.5 |
15.7 |
24.2 |
26.8 |
27.3 |
|
Inventories - Finished Goods |
7.7 |
7.7 |
10.9 |
6.9 |
8.7 |
|
Inventories - Work In Progress |
2.8 |
3.8 |
5.6 |
6.1 |
7.3 |
|
Inventories - Raw Materials |
6.4 |
7.6 |
12.5 |
11.5 |
10.8 |
|
Inventories - Other |
0.5 |
0.4 |
0.3 |
0.0 |
0.0 |
|
Total Inventory |
17.3 |
19.6 |
29.3 |
24.5 |
26.8 |
|
Prepaid Expenses |
1.0 |
1.1 |
0.0 |
- |
- |
|
Other Current Assets |
0.1 |
0.0 |
0.0 |
1.1 |
0.0 |
|
Other Current Assets, Total |
0.1 |
0.0 |
0.0 |
1.1 |
0.0 |
|
Total Current Assets |
38.0 |
41.9 |
70.2 |
74.6 |
61.5 |
|
|
|
|
|
|
|
|
Buildings |
16.7 |
17.4 |
13.6 |
- |
- |
|
Land/Improvements |
9.9 |
10.5 |
2.2 |
- |
- |
|
Machinery/Equipment |
63.8 |
66.0 |
71.9 |
- |
- |
|
Construction in
Progress |
0.5 |
0.9 |
2.5 |
- |
- |
|
Property/Plant/Equipment - Gross |
90.9 |
94.8 |
90.3 |
- |
- |
|
Accumulated Depreciation |
-28.4 |
-26.5 |
-28.6 |
- |
- |
|
Property/Plant/Equipment - Net |
62.5 |
68.3 |
61.7 |
66.5 |
68.1 |
|
Goodwill, Net |
0.4 |
0.4 |
0.5 |
0.0 |
- |
|
Intangibles - Gross |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Accumulated Intangible Amortization |
-0.1 |
-0.1 |
-0.1 |
0.0 |
0.0 |
|
Intangibles, Net |
0.1 |
0.1 |
0.2 |
0.1 |
0.1 |
|
LT Investments - Other |
0.0 |
0.0 |
0.0 |
0.0 |
0.2 |
|
Long Term Investments |
0.0 |
0.0 |
0.0 |
0.0 |
0.2 |
|
Note Receivable - Long Term |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Deferred Income Tax - Long Term Asset |
0.3 |
0.3 |
0.1 |
- |
- |
|
Other Long Term Assets, Total |
0.3 |
0.3 |
0.1 |
- |
- |
|
Total Assets |
101.2 |
111.1 |
132.7 |
141.2 |
129.9 |
|
|
|
|
|
|
|
|
Accounts Payable |
12.4 |
11.5 |
11.1 |
8.2 |
11.6 |
|
Accrued Expenses |
0.9 |
1.1 |
0.9 |
2.7 |
3.1 |
|
Notes Payable/Short Term Debt |
56.6 |
56.1 |
61.4 |
56.5 |
51.4 |
|
Current Portion - Long Term Debt/Capital Leases |
12.7 |
4.6 |
8.3 |
10.8 |
9.1 |
|
Dividends Payable |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Customer Advances |
1.8 |
0.8 |
0.9 |
0.3 |
0.0 |
|
Security Deposits |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Income Taxes Payable |
1.1 |
0.9 |
0.6 |
1.3 |
1.8 |
|
Other Payables |
0.4 |
0.4 |
0.3 |
0.5 |
0.5 |
|
Other Current Liabilities |
- |
- |
- |
0.2 |
0.0 |
|
Other Current liabilities, Total |
3.5 |
2.2 |
1.9 |
2.3 |
2.5 |
|
Total Current Liabilities |
86.1 |
75.5 |
83.5 |
80.5 |
77.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
4.0 |
11.6 |
13.2 |
15.2 |
23.9 |
|
Total Long Term Debt |
4.0 |
11.6 |
13.2 |
15.2 |
23.9 |
|
Total Debt |
73.3 |
72.4 |
82.9 |
82.5 |
84.4 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1.1 |
0.8 |
3.7 |
4.2 |
0.0 |
|
Deferred Income Tax |
1.1 |
0.8 |
3.7 |
4.2 |
0.0 |
|
Pension Benefits - Underfunded |
- |
0.0 |
0.0 |
0.0 |
- |
|
Other Liabilities, Total |
- |
0.0 |
0.0 |
0.0 |
- |
|
Total Liabilities |
91.2 |
88.0 |
100.4 |
99.9 |
101.6 |
|
|
|
|
|
|
|
|
Common Stock |
6.0 |
6.3 |
7.4 |
6.0 |
5.5 |
|
Common Stock |
6.0 |
6.3 |
7.4 |
6.0 |
5.5 |
|
Additional Paid-In Capital |
2.5 |
2.6 |
3.1 |
1.1 |
1.1 |
|
Retained Earnings (Accumulated Deficit) |
-12.5 |
1.1 |
12.1 |
20.4 |
19.2 |
|
Unrealized Gain (Loss) |
14.0 |
13.1 |
9.6 |
13.7 |
2.5 |
|
Total Equity |
10.0 |
23.0 |
32.3 |
41.3 |
28.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
101.2 |
111.1 |
132.7 |
141.2 |
129.9 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
50.9 |
50.9 |
50.9 |
36.4 |
33.1 |
|
Total Common Shares Outstanding |
50.9 |
50.9 |
50.9 |
36.4 |
33.1 |
|
Employees |
3,200 |
3,000 |
4,300 |
4,500 |
2,988 |
|
Number of Common Shareholders |
1,697 |
1,751 |
1,801 |
1,713 |
1,762 |
|
Accumulated Intangible Amort, Suppl. |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Deferred Revenue - Current |
1.8 |
0.8 |
0.9 |
0.3 |
0.0 |
|
Total Long Term Debt, Supplemental |
17.3 |
19.8 |
71.4 |
- |
- |
|
Long Term Debt Maturing within 1 Year |
9.3 |
6.0 |
61.7 |
- |
- |
|
Long Term Debt Maturing in Year 2 |
3.1 |
5.5 |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
3.1 |
5.5 |
- |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
4.8 |
8.4 |
9.6 |
- |
- |
Interim Balance Sheet
Standardized
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.645 |
86.285 |
85.525 |
84.035 |
84.325 |
|
|
|
|
|
|
|
|
Cash |
0.5 |
0.8 |
0.9 |
0.3 |
0.8 |
|
Short Term Investments |
3.7 |
3.1 |
3.2 |
3.4 |
3.3 |
|
Cash and Short Term Investments |
4.1 |
4.0 |
4.1 |
3.7 |
4.1 |
|
Trade Accounts Receivable - Net |
8.7 |
9.9 |
9.1 |
10.6 |
10.7 |
|
Other Receivables |
6.3 |
7.2 |
7.4 |
8.0 |
7.6 |
|
Total Receivables, Net |
14.9 |
17.1 |
16.5 |
18.7 |
18.4 |
|
Inventories - Finished Goods |
8.9 |
12.9 |
13.5 |
14.5 |
13.2 |
|
Inventories - Raw Materials |
3.3 |
3.6 |
3.8 |
4.2 |
4.0 |
|
Total Inventory |
12.2 |
16.6 |
17.3 |
18.6 |
17.2 |
|
Other Current Assets |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Other Current Assets, Total |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Total Current Assets |
31.4 |
37.8 |
38.0 |
41.1 |
39.7 |
|
|
|
|
|
|
|
|
Construction in
Progress |
0.4 |
0.5 |
0.5 |
0.9 |
1.5 |
|
Property/Plant/Equipment - Gross |
0.4 |
0.5 |
0.5 |
0.9 |
1.5 |
|
Property/Plant/Equipment - Net |
38.6 |
61.0 |
62.5 |
64.3 |
65.2 |
|
Goodwill, Net |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Intangibles, Net |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
LT Investments - Other |
- |
- |
0.0 |
- |
- |
|
Long Term Investments |
- |
- |
0.0 |
- |
- |
|
Note Receivable - Long Term |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Income Tax - Long Term Asset |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Discontinued Operations - Long Term Asset |
22.2 |
- |
- |
- |
- |
|
Other Long Term Assets, Total |
22.5 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Total Assets |
93.0 |
99.6 |
101.2 |
106.2 |
105.8 |
|
|
|
|
|
|
|
|
Accounts Payable |
15.1 |
10.5 |
12.4 |
10.7 |
12.4 |
|
Accrued Expenses |
9.1 |
8.9 |
6.7 |
6.0 |
4.2 |
|
Notes Payable/Short Term Debt |
51.3 |
53.1 |
52.7 |
54.8 |
52.3 |
|
Current Portion - Long Term Debt/Capital Leases |
11.3 |
10.9 |
10.8 |
7.3 |
6.8 |
|
Dividends Payable |
- |
0.1 |
0.1 |
0.1 |
0.1 |
|
Customer Advances |
- |
2.7 |
1.8 |
1.5 |
1.1 |
|
Security Deposits |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Taxes Payable |
0.4 |
1.5 |
1.1 |
0.9 |
0.7 |
|
Other Payables |
- |
0.7 |
0.4 |
0.4 |
0.3 |
|
Other Current liabilities, Total |
0.4 |
4.9 |
3.5 |
2.9 |
2.2 |
|
Total Current Liabilities |
87.2 |
88.2 |
86.1 |
81.6 |
77.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
3.5 |
3.8 |
4.0 |
7.9 |
8.3 |
|
Total Long Term Debt |
3.5 |
3.8 |
4.0 |
7.9 |
8.3 |
|
Total Debt |
66.2 |
67.8 |
67.6 |
69.9 |
67.4 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
1.2 |
1.1 |
1.1 |
1.2 |
1.2 |
|
Deferred Income Tax |
1.2 |
1.1 |
1.1 |
1.2 |
1.2 |
|
Total Liabilities |
91.9 |
93.1 |
91.2 |
90.6 |
87.3 |
|
|
|
|
|
|
|
|
Common Stock |
5.9 |
5.9 |
6.0 |
6.1 |
6.0 |
|
Common Stock |
5.9 |
5.9 |
6.0 |
6.1 |
6.0 |
|
Additional Paid-In Capital |
2.5 |
2.5 |
2.5 |
2.5 |
2.5 |
|
Retained Earnings (Accumulated Deficit) |
-21.6 |
-15.8 |
-12.5 |
-7.4 |
-4.4 |
|
Unrealized Gain (Loss) |
14.3 |
13.8 |
14.0 |
14.3 |
14.2 |
|
Total Equity |
1.1 |
6.4 |
10.0 |
15.5 |
18.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
93.0 |
99.6 |
101.2 |
106.2 |
105.8 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
50.9 |
50.9 |
50.9 |
50.9 |
50.9 |
|
Total Common Shares Outstanding |
50.9 |
50.9 |
50.9 |
50.9 |
50.9 |
|
Deferred Revenue - Current |
- |
2.7 |
1.8 |
1.5 |
1.1 |
Annual Cash Flows
Standardized
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 |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-13.3 |
-8.8 |
-4.8 |
2.9 |
0.1 |
|
Depreciation |
3.9 |
3.5 |
4.1 |
4.3 |
4.5 |
|
Depreciation/Depletion |
3.9 |
3.5 |
4.1 |
4.3 |
4.5 |
|
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 |
0.8 |
-2.3 |
-0.6 |
-0.4 |
-0.4 |
|
Other Non-Cash Items |
9.2 |
8.8 |
7.8 |
8.1 |
6.8 |
|
Non-Cash Items |
10.0 |
6.5 |
7.2 |
7.7 |
6.4 |
|
Accounts Receivable |
-0.8 |
3.5 |
-1.1 |
-0.8 |
-8.7 |
|
Inventories |
1.4 |
5.2 |
-8.2 |
2.2 |
-7.7 |
|
Other Assets |
-0.5 |
0.3 |
0.3 |
0.7 |
3.9 |
|
Accounts Payable |
2.8 |
2.9 |
4.4 |
-3.4 |
4.1 |
|
Accrued Expenses |
- |
- |
- |
0.0 |
0.0 |
|
Other Liabilities |
- |
- |
- |
5.3 |
16.3 |
|
Other Operating Cash Flow |
-5.3 |
-8.9 |
-8.7 |
-9.2 |
-7.1 |
|
Changes in Working Capital |
-2.4 |
3.0 |
-13.3 |
-5.2 |
0.8 |
|
Cash from Operating Activities |
-1.8 |
4.2 |
-6.8 |
9.7 |
11.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1.5 |
-7.2 |
-4.0 |
-4.1 |
-4.6 |
|
Purchase/Acquisition of Intangibles |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Capital Expenditures |
-1.5 |
-7.2 |
-4.1 |
-4.1 |
-4.6 |
|
Acquisition of Business |
- |
- |
- |
0.0 |
- |
|
Sale of Fixed Assets |
0.3 |
0.4 |
0.2 |
0.1 |
0.8 |
|
Sale/Maturity of Investment |
0.0 |
3.1 |
2.1 |
0.8 |
0.0 |
|
Purchase of Investments |
0.0 |
0.0 |
-5.4 |
-0.6 |
0.0 |
|
Other Investing Cash Flow |
0.1 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Other Investing Cash Flow Items, Total |
0.3 |
3.7 |
-3.0 |
0.4 |
0.9 |
|
Cash from Investing Activities |
-1.2 |
-3.5 |
-7.1 |
-3.7 |
-3.8 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
0.0 |
0.0 |
-1.0 |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
0.0 |
0.0 |
-1.0 |
0.0 |
0.0 |
|
Short Term Debt Issued |
0.6 |
4.2 |
11.4 |
- |
- |
|
Short Term Debt, Net |
0.6 |
4.2 |
11.4 |
- |
- |
|
Long Term Debt Issued |
- |
0.0 |
4.7 |
0.0 |
- |
|
Long Term Debt, Net |
0.0 |
-2.1 |
2.4 |
-6.8 |
-7.4 |
|
Issuance (Retirement) of Debt, Net |
0.6 |
2.2 |
13.7 |
-6.8 |
-7.4 |
|
Cash from Financing Activities |
0.6 |
2.2 |
12.7 |
-6.8 |
-7.4 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-2.4 |
2.8 |
-1.2 |
-0.8 |
0.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
3.4 |
0.7 |
2.1 |
3.0 |
2.3 |
|
Net Cash - Ending Balance |
0.9 |
3.6 |
0.9 |
2.2 |
3.0 |
|
Cash Interest Paid |
4.7 |
8.3 |
7.8 |
8.0 |
6.1 |
|
Cash Taxes Paid |
-0.6 |
0.5 |
0.9 |
1.2 |
1.0 |
Interim Cash Flows
Standardized
|
Financials in:
USD (mil) Except for share
items (millions) and per share items (actual units) |
|
|
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
31-Dec-2009 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.739297 |
85.692742 |
83.860328 |
83.615985 |
83.124158 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-8.9 |
-3.3 |
-13.3 |
-8.2 |
-5.3 |
|
Depreciation |
1.7 |
0.9 |
3.9 |
2.8 |
1.9 |
|
Depreciation/Depletion |
1.7 |
0.9 |
3.9 |
2.8 |
1.9 |
|
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 |
0.8 |
0.7 |
0.8 |
|
Other Non-Cash Items |
4.5 |
2.1 |
9.2 |
5.9 |
3.8 |
|
Non-Cash Items |
4.5 |
2.1 |
10.0 |
6.6 |
4.6 |
|
Accounts Receivable |
0.9 |
-0.9 |
-0.8 |
-2.4 |
-2.5 |
|
Inventories |
5.0 |
0.6 |
1.4 |
0.3 |
1.8 |
|
Other Assets |
0.3 |
0.1 |
-0.5 |
-0.3 |
-0.1 |
|
Accounts Payable |
-1.1 |
-0.2 |
2.8 |
0.5 |
1.7 |
|
Other Operating Cash Flow |
-1.5 |
-0.2 |
-5.3 |
-3.3 |
-2.9 |
|
Changes in Working Capital |
3.7 |
-0.5 |
-2.4 |
-5.1 |
-2.0 |
|
Cash from Operating Activities |
1.0 |
-0.9 |
-1.8 |
-3.9 |
-0.8 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-0.3 |
-0.1 |
-1.5 |
-1.2 |
-1.2 |
|
Purchase/Acquisition of Intangibles |
- |
0.0 |
0.0 |
- |
- |
|
Capital Expenditures |
-0.3 |
-0.1 |
-1.5 |
-1.2 |
-1.2 |
|
Sale of Fixed Assets |
0.1 |
0.1 |
0.3 |
0.3 |
0.0 |
|
Sale/Maturity of Investment |
- |
- |
0.0 |
- |
- |
|
Investment, Net |
- |
- |
- |
0.0 |
- |
|
Purchase of Investments |
- |
- |
0.0 |
- |
- |
|
Other Investing Cash Flow |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
0.1 |
0.1 |
0.3 |
0.4 |
0.1 |
|
Cash from Investing Activities |
-0.2 |
0.0 |
-1.2 |
-0.8 |
-1.2 |
|
|
|
|
|
|
|
|
Cash Dividends Paid - Common |
- |
- |
0.0 |
- |
- |
|
Total Cash Dividends Paid |
- |
- |
0.0 |
- |
- |
|
Short Term Debt Issued |
- |
- |
0.6 |
- |
- |
|
Short Term Debt, Net |
-1.3 |
0.8 |
0.6 |
1.7 |
-0.6 |
|
Long Term Debt, Net |
- |
- |
0.0 |
0.0 |
0.0 |
|
Issuance (Retirement) of Debt, Net |
-1.3 |
0.8 |
0.6 |
1.7 |
-0.6 |
|
Cash from Financing Activities |
-1.3 |
0.8 |
0.6 |
1.7 |
-0.6 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-0.4 |
-0.1 |
-2.4 |
-3.1 |
-2.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
0.9 |
0.9 |
3.4 |
3.4 |
3.4 |
|
Net Cash - Ending Balance |
0.5 |
0.8 |
0.9 |
0.3 |
0.8 |
|
Cash Interest Paid |
1.2 |
0.1 |
4.7 |
2.9 |
2.6 |
|
Cash Taxes Paid |
0.3 |
0.1 |
0.6 |
0.4 |
0.3 |
Annual Income Statement
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 |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales |
- |
- |
- |
125.5 |
106.8 |
|
Export Sales |
56.5 |
69.5 |
63.8 |
- |
- |
|
Revenues - Gross |
20.6 |
29.9 |
34.5 |
- |
- |
|
Sales Tax |
-0.6 |
-1.3 |
-0.3 |
- |
- |
|
Electricity Duty and Withholding Tax |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Revenue |
76.4 |
98.1 |
98.0 |
125.5 |
106.8 |
|
|
|
|
|
|
|
|
Cost of Goods |
72.2 |
89.5 |
85.2 |
107.0 |
93.5 |
|
Salaries, Wages and Other Benefits |
2.0 |
2.2 |
2.3 |
- |
- |
|
Sales Promotion and Advertising |
0.0 |
0.1 |
0.1 |
- |
- |
|
Depreciation |
0.3 |
0.3 |
0.2 |
- |
- |
|
Research and Development |
- |
0.0 |
0.3 |
- |
- |
|
Amortization |
0.0 |
0.0 |
0.0 |
- |
- |
|
Distribution Costs |
4.5 |
5.7 |
4.8 |
5.5 |
4.9 |
|
Administrative |
1.3 |
1.5 |
1.5 |
2.4 |
1.9 |
|
Impairment Loss on Equity Investment |
0.9 |
0.8 |
0.0 |
- |
- |
|
Loss on Sale of Fixed Assets |
- |
0.0 |
0.0 |
- |
- |
|
Exchange Loss |
0.1 |
1.8 |
1.6 |
- |
- |
|
Other Charges |
0.6 |
0.0 |
0.0 |
0.5 |
0.2 |
|
Gain on Sale of Investment |
0.0 |
-3.0 |
-0.6 |
- |
- |
|
Dividend Income |
0.0 |
-0.2 |
-0.2 |
- |
- |
|
Gain on Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
- |
- |
|
Other Operating Income |
-0.9 |
-0.7 |
-0.4 |
-0.8 |
-0.7 |
|
Total Operating Expense |
81.1 |
98.0 |
94.9 |
114.6 |
99.8 |
|
|
|
|
|
|
|
|
Financial Charges |
-8.6 |
-8.4 |
-7.9 |
-8.0 |
-6.8 |
|
Loss on cross currency swap |
0.0 |
-0.6 |
- |
- |
- |
|
Net Income Before Taxes |
-13.3 |
-8.8 |
-4.8 |
2.9 |
0.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.6 |
0.6 |
0.7 |
1.0 |
1.0 |
|
Net Income After Taxes |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
Net Income |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
50.9 |
50.9 |
49.6 |
36.4 |
36.4 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Basic EPS Including ExtraOrdinary Item |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-13.9 |
-9.4 |
-5.5 |
1.9 |
-0.9 |
|
Diluted Weighted Average Shares |
50.9 |
50.9 |
49.6 |
36.4 |
36.4 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
Diluted EPS Including ExtraOrd Items |
-0.27 |
-0.19 |
-0.11 |
0.05 |
-0.02 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.02 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
2.4 |
0.0 |
|
Normalized Income Before Taxes |
-12.5 |
-8.1 |
-4.8 |
2.9 |
0.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.9 |
0.8 |
0.7 |
1.0 |
1.0 |
|
Normalized Income After Taxes |
-13.4 |
-8.9 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-13.4 |
-8.9 |
-5.5 |
1.9 |
-0.9 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.26 |
-0.18 |
-0.11 |
0.05 |
-0.02 |
|
Diluted Normalized EPS |
-0.26 |
-0.18 |
-0.11 |
0.05 |
-0.02 |
|
Interest Expense |
7.8 |
7.8 |
6.5 |
7.5 |
6.8 |
|
Depreciation |
3.9 |
3.5 |
4.1 |
25.6 |
4.5 |
|
Advertising Expenses |
0.0 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Amortization of Intangibles |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Rental Expense |
0.0 |
0.0 |
0.0 |
- |
- |
|
Research & Development |
0.0 |
0.0 |
0.3 |
0.2 |
- |
|
Current Tax |
0.7 |
0.7 |
0.7 |
1.1 |
1.0 |
|
Prior Year |
0.0 |
0.1 |
0.1 |
- |
- |
|
Current Tax - Total |
0.6 |
0.8 |
0.8 |
1.1 |
1.0 |
|
Deferred Tax |
0.0 |
-0.2 |
0.0 |
0.0 |
- |
|
Prior Year |
- |
- |
- |
-0.1 |
0.0 |
|
Deferred Tax - Total |
0.0 |
-0.2 |
0.0 |
-0.1 |
0.0 |
|
Income Tax - Total |
0.6 |
0.6 |
0.7 |
1.0 |
1.0 |
|
Defined Contribution Plan |
0.1 |
0.1 |
0.1 |
0.1 |
- |
|
Total Pension Expense |
0.1 |
0.1 |
0.1 |
0.1 |
- |
Interim Income Statement
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 |
3 Months |
3 Months |
3 Months |
3 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated
Calculated |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.487912 |
85.79172 |
85.692742 |
84.610538 |
84.618242 |
|
|
|
|
|
|
|
|
Sales |
13.3 |
16.6 |
15.8 |
22.1 |
16.5 |
|
Total Revenue |
13.3 |
16.6 |
15.8 |
22.1 |
16.5 |
|
|
|
|
|
|
|
|
Cost of Goods |
16.4 |
16.2 |
15.0 |
21.5 |
15.7 |
|
Distribution Costs |
0.7 |
0.8 |
1.0 |
1.7 |
1.1 |
|
Administrative |
0.5 |
0.6 |
0.6 |
0.9 |
0.7 |
|
Other Charges |
0.1 |
0.0 |
0.0 |
0.7 |
0.0 |
|
Other Operating Income |
-1.5 |
0.0 |
-0.1 |
-0.4 |
-0.2 |
|
Total Operating Expense |
16.2 |
17.5 |
16.5 |
24.4 |
17.3 |
|
|
|
|
|
|
|
|
Financial Charges |
-1.7 |
-1.8 |
-1.5 |
-2.7 |
-2.0 |
|
Adjustment |
- |
0.0 |
0.0 |
- |
- |
|
Net Income Before Taxes |
-4.6 |
-2.6 |
-2.2 |
-5.1 |
-2.9 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
0.1 |
0.2 |
0.1 |
0.2 |
0.1 |
|
Net Income After Taxes |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Net Income Before Extra. Items |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
Discontinued Operation |
-0.9 |
-2.9 |
-1.1 |
- |
0.0 |
|
Net Income |
-5.5 |
-5.8 |
-3.5 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
-5.5 |
-5.8 |
-3.5 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
50.9 |
50.9 |
50.9 |
50.9 |
50.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
-0.09 |
-0.06 |
-0.05 |
-0.10 |
-0.06 |
|
Basic EPS Including ExtraOrdinary Item |
-0.11 |
-0.11 |
-0.07 |
-0.10 |
-0.06 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Diluted Net Income |
-5.5 |
-5.8 |
-3.5 |
-5.3 |
-3.0 |
|
Diluted Weighted Average Shares |
50.9 |
50.9 |
50.9 |
50.9 |
50.9 |
|
Diluted EPS Excluding ExtraOrd Items |
-0.09 |
-0.06 |
-0.05 |
-0.10 |
-0.06 |
|
Diluted EPS Including ExtraOrd Items |
-0.11 |
-0.11 |
-0.07 |
-0.10 |
-0.06 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
-4.6 |
-2.6 |
-2.2 |
-5.1 |
-2.9 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.1 |
0.2 |
0.1 |
0.2 |
0.1 |
|
Normalized Income After Taxes |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-4.7 |
-2.8 |
-2.3 |
-5.3 |
-3.0 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.09 |
-0.06 |
-0.05 |
-0.10 |
-0.06 |
|
Diluted Normalized EPS |
-0.09 |
-0.06 |
-0.05 |
-0.10 |
-0.06 |
|
Depreciation Expenses |
- |
0.8 |
0.9 |
1.0 |
0.9 |
|
Amortization of Intangibles |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Defined Contribution Plan |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Pension Expense |
- |
0.0 |
0.0 |
0.0 |
0.0 |
Annual Balance Sheet
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 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.525 |
81.44 |
68.45 |
60.47 |
60.21 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Stores/Spares |
3.7 |
4.5 |
5.6 |
5.0 |
4.3 |
|
Loose Tools |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Raw Material |
2.6 |
3.1 |
6.9 |
6.5 |
6.5 |
|
Work in Process |
2.8 |
3.8 |
5.6 |
6.1 |
7.3 |
|
Finished Goods |
7.7 |
7.7 |
10.9 |
6.9 |
8.7 |
|
Stock of Subsidiary Company |
0.4 |
0.4 |
0.3 |
- |
- |
|
Trade Debts |
- |
- |
11.3 |
16.3 |
17.3 |
|
Trade Debts |
9.6 |
10.7 |
- |
- |
- |
|
Provision for doubtful debts |
-0.6 |
0.0 |
- |
- |
- |
|
Loans and Advances |
3.9 |
3.0 |
8.3 |
4.4 |
3.8 |
|
Trade Deposits & Short Term Prepy. |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Short Term Prepayments |
0.0 |
0.0 |
0.0 |
- |
- |
|
Advance income tax |
1.0 |
1.0 |
- |
- |
- |
|
Other Receivables |
1.1 |
0.9 |
2.8 |
3.9 |
3.2 |
|
Sales Tax Recoverable |
1.4 |
1.1 |
1.7 |
2.2 |
3.0 |
|
Accrued Interest |
- |
- |
- |
0.0 |
0.0 |
|
ST Investment |
3.2 |
2.1 |
15.9 |
20.0 |
4.4 |
|
Non-Current Assets Clas. as Held for Sal |
- |
- |
- |
1.0 |
0.0 |
|
On Deposits Account |
0.2 |
3.1 |
0.2 |
- |
- |
|
Cash/Bank |
0.7 |
0.3 |
0.6 |
2.2 |
3.0 |
|
Total Current Assets |
38.0 |
41.9 |
70.2 |
74.6 |
61.5 |
|
|
|
|
|
|
|
|
Freehold Land |
9.9 |
10.5 |
2.2 |
- |
- |
|
Residential |
4.1 |
4.3 |
1.9 |
- |
- |
|
Factory |
12.5 |
13.1 |
11.6 |
- |
- |
|
Building |
0.2 |
0.1 |
0.1 |
- |
- |
|
Plant/Machinery |
58.9 |
61.1 |
66.3 |
- |
- |
|
Electric Install |
1.5 |
1.6 |
1.8 |
- |
- |
|
Fixt. & Fittings |
1.7 |
1.7 |
1.9 |
- |
- |
|
Computer |
0.6 |
0.6 |
0.6 |
- |
- |
|
Vehicles |
0.9 |
1.0 |
1.3 |
- |
- |
|
Depreciation |
-28.4 |
-26.5 |
-28.6 |
- |
- |
|
Software |
0.2 |
0.2 |
0.2 |
0.1 |
0.1 |
|
Amortisation |
-0.1 |
-0.1 |
-0.1 |
0.0 |
0.0 |
|
Capital WIP |
0.5 |
0.9 |
2.5 |
- |
- |
|
Property, Plant & Equipment |
- |
- |
- |
66.5 |
68.1 |
|
Goodwill, Net |
0.4 |
0.4 |
0.5 |
0.0 |
- |
|
Investment |
0.0 |
0.0 |
0.0 |
0.0 |
0.2 |
|
LT Security |
0.0 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Deferred Income Tax |
0.3 |
0.3 |
0.1 |
- |
- |
|
Total Assets |
101.2 |
111.1 |
132.7 |
141.2 |
129.9 |
|
|
|
|
|
|
|
|
Redeemable Cap. |
- |
0.0 |
0.0 |
- |
- |
|
Long Term Financing |
1.9 |
0.7 |
0.6 |
- |
- |
|
Short Term Borrowing |
3.8 |
1.4 |
1.1 |
- |
- |
|
Int. Accrued on Loan & Redeemable Lease |
- |
- |
- |
1.8 |
1.7 |
|
ST Finance |
52.7 |
54.8 |
60.3 |
56.5 |
51.4 |
|
Current Portion of LT Debt |
10.8 |
4.0 |
7.7 |
10.8 |
9.1 |
|
Taxation |
0.6 |
0.7 |
0.6 |
1.2 |
1.8 |
|
Creditors |
12.4 |
11.5 |
11.1 |
8.2 |
11.6 |
|
Customer Advance |
1.8 |
0.8 |
0.9 |
0.3 |
0.0 |
|
Comission Pybl. |
0.4 |
0.3 |
0.3 |
0.4 |
0.5 |
|
Income Tax |
0.5 |
0.2 |
0.0 |
0.1 |
0.1 |
|
Security Deposit |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Payable to Provident Fund |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accrued Liabilities |
0.9 |
1.1 |
0.9 |
0.9 |
1.4 |
|
Unclaimed Dividend |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Workers Part. |
- |
- |
- |
0.2 |
0.0 |
|
Workers' Welfare Fund |
- |
- |
- |
0.1 |
0.0 |
|
Total Current Liabilities |
86.1 |
75.5 |
83.5 |
80.5 |
77.7 |
|
|
|
|
|
|
|
|
Redeemable Cap. |
- |
- |
- |
0.7 |
2.0 |
|
LT Loans |
4.0 |
11.6 |
13.2 |
14.6 |
21.9 |
|
Total Long Term Debt |
4.0 |
11.6 |
13.2 |
15.2 |
23.9 |
|
|
|
|
|
|
|
|
Deferred Tax |
1.1 |
0.8 |
3.7 |
4.2 |
0.0 |
|
Provision for Gratuity |
- |
0.0 |
0.0 |
0.0 |
- |
|
Total Liabilities |
91.2 |
88.0 |
100.4 |
99.9 |
101.6 |
|
|
|
|
|
|
|
|
Capital |
6.0 |
6.3 |
7.4 |
6.0 |
5.5 |
|
Capital Reserve- Premium |
2.5 |
2.6 |
3.1 |
1.1 |
1.1 |
|
Surplus on Revaluation of Investments |
12.0 |
12.7 |
0.0 |
- |
- |
|
Surplus on Revaluation of Investments |
2.0 |
0.4 |
9.6 |
13.7 |
2.5 |
|
Revenue Reserve |
- |
- |
15.5 |
17.5 |
23.1 |
|
Accumulated Unappropriated Profits |
-24.8 |
-11.9 |
-3.4 |
2.9 |
-3.9 |
|
General Reserve |
12.4 |
13.0 |
- |
- |
- |
|
Total Equity |
10.0 |
23.0 |
32.3 |
41.3 |
28.3 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
101.2 |
111.1 |
132.7 |
141.2 |
129.9 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
50.9 |
50.9 |
50.9 |
36.4 |
33.1 |
|
Total Common Shares Outstanding |
50.9 |
50.9 |
50.9 |
36.4 |
33.1 |
|
Deferred Revenue - Current |
1.8 |
0.8 |
0.9 |
0.3 |
0.0 |
|
Accumulated Amortisation |
0.1 |
0.1 |
0.1 |
0.0 |
0.0 |
|
Full-Time Employees |
3,200 |
3,000 |
4,300 |
4,500 |
2,988 |
|
Number of Common Shareholders |
1,697 |
1,751 |
1,801 |
1,713 |
1,762 |
|
Long Term Debt Maturing in 1 Year |
9.3 |
6.0 |
61.7 |
- |
- |
|
Long Term Debt Maturing in Year 2 |
3.1 |
5.5 |
- |
- |
- |
|
Long Term Debt Maturing after 2 Year |
4.8 |
8.4 |
9.6 |
- |
- |
|
Total Long Term Debt, Supplemental |
17.3 |
19.8 |
71.4 |
- |
- |
Interim Balance Sheet
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
31-Dec-2009 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate |
85.645 |
86.285 |
85.525 |
84.035 |
84.325 |
|
|
|
|
|
|
|
|
Stores, Spares & Loose Tools |
3.3 |
3.6 |
3.8 |
4.2 |
4.0 |
|
Stock in Trade |
- |
- |
- |
14.5 |
- |
|
Goods/Transit |
8.9 |
12.9 |
13.5 |
- |
13.2 |
|
Trade Debts |
8.7 |
9.9 |
9.1 |
10.6 |
10.7 |
|
Loans and Advances |
2.9 |
3.3 |
3.9 |
4.3 |
4.3 |
|
Trade Deposits & Short Term Prepayments |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Other Receivables |
2.3 |
2.7 |
2.1 |
2.4 |
2.2 |
|
Sales Tax Recoverable |
1.1 |
1.2 |
1.4 |
1.3 |
1.1 |
|
ST Investment |
3.7 |
3.1 |
3.2 |
3.4 |
3.3 |
|
Cash/Bank |
0.5 |
0.8 |
0.9 |
0.3 |
0.8 |
|
Total Current Assets |
31.4 |
37.8 |
38.0 |
41.1 |
39.7 |
|
|
|
|
|
|
|
|
Fixed Assets |
38.2 |
60.5 |
62.0 |
63.4 |
63.7 |
|
Capital WIP |
0.4 |
0.5 |
0.5 |
0.9 |
1.5 |
|
Software |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Goodwill |
0.4 |
0.4 |
0.4 |
0.4 |
0.4 |
|
Long term investment |
- |
- |
0.0 |
- |
- |
|
LT Security |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Deferred Income Tax |
0.3 |
0.3 |
0.3 |
0.3 |
0.3 |
|
Non-current assets held for sale |
22.2 |
- |
- |
- |
- |
|
Total Assets |
93.0 |
99.6 |
101.2 |
106.2 |
105.8 |
|
|
|
|
|
|
|
|
Creditors |
15.1 |
10.5 |
12.4 |
10.7 |
12.4 |
|
Advances from Customers |
- |
2.7 |
1.8 |
1.5 |
1.1 |
|
Income Tax Deducted at Source |
- |
0.7 |
0.5 |
0.4 |
0.4 |
|
Security Deposit |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Accrued & Other Liability |
9.1 |
1.2 |
0.9 |
1.1 |
1.0 |
|
Unclaimed Dividend |
- |
0.1 |
0.1 |
0.1 |
0.1 |
|
Other Payables |
- |
0.7 |
0.4 |
0.4 |
0.3 |
|
Accrued Int. on Loan & Redeemable Lease |
- |
7.6 |
5.8 |
4.9 |
3.2 |
|
ST Finance |
51.3 |
53.1 |
52.7 |
54.8 |
52.3 |
|
Current Portion of Long Term Debt |
11.3 |
10.9 |
10.8 |
7.3 |
6.8 |
|
Taxation |
0.4 |
0.8 |
0.6 |
0.5 |
0.3 |
|
Total Current Liabilities |
87.2 |
88.2 |
86.1 |
81.6 |
77.9 |
|
|
|
|
|
|
|
|
Long Term Loans |
3.5 |
3.8 |
4.0 |
7.9 |
8.3 |
|
Total Long Term Debt |
3.5 |
3.8 |
4.0 |
7.9 |
8.3 |
|
|
|
|
|
|
|
|
Deferred Tax |
1.2 |
1.1 |
1.1 |
1.2 |
1.2 |
|
Total Liabilities |
91.9 |
93.1 |
91.2 |
90.6 |
87.3 |
|
|
|
|
|
|
|
|
Capital |
5.9 |
5.9 |
6.0 |
6.1 |
6.0 |
|
Surplus on Revaluation of Investments |
11.9 |
11.8 |
12.0 |
12.2 |
12.2 |
|
Share Premuim |
2.5 |
2.5 |
2.5 |
2.5 |
2.5 |
|
Revaluation of Investment |
2.4 |
2.0 |
2.0 |
2.2 |
2.1 |
|
General Reserve |
12.4 |
12.3 |
12.4 |
12.7 |
12.5 |
|
Unappropriated Profit |
-33.9 |
-28.0 |
-24.8 |
-20.1 |
-16.9 |
|
Total Equity |
1.1 |
6.4 |
10.0 |
15.5 |
18.4 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
93.0 |
99.6 |
101.2 |
106.2 |
105.8 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
50.9 |
50.9 |
50.9 |
50.9 |
50.9 |
|
Total Common Shares Outstanding |
50.9 |
50.9 |
50.9 |
50.9 |
50.9 |
|
Deferred Revenue |
- |
2.7 |
1.8 |
1.5 |
1.1 |
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 |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
83.860328 |
78.573941 |
62.550956 |
60.637036 |
59.865977 |
|
Auditor |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Riaz Ahmad &
Co (CA) |
Ford Rhodes
Sidat Hyder & Co. |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Profit Before Tax |
-13.3 |
-8.8 |
-4.8 |
2.9 |
0.1 |
|
Depreciation |
3.9 |
3.5 |
4.1 |
4.3 |
4.5 |
|
Disposal Fixed Asset |
0.0 |
0.0 |
0.0 |
0.0 |
-0.4 |
|
Amortisation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividend Income |
0.0 |
-0.2 |
-0.2 |
-0.1 |
0.0 |
|
Gain on Sale of Shares |
0.0 |
-3.0 |
-0.6 |
-0.4 |
0.0 |
|
Impairment Loss on Equity Invest. |
0.9 |
0.8 |
0.0 |
- |
- |
|
Provision for doubtful debts |
0.6 |
0.0 |
- |
- |
- |
|
Provision for Gratuity |
- |
0.0 |
0.0 |
0.0 |
- |
|
Dim. Investments |
- |
0.0 |
0.0 |
0.2 |
0.0 |
|
Financial Charges |
8.6 |
9.0 |
7.9 |
8.1 |
6.8 |
|
Stores/Spares |
0.5 |
0.2 |
-1.3 |
-0.7 |
-0.9 |
|
Stock in Trade |
0.9 |
5.0 |
-7.0 |
3.0 |
-6.8 |
|
Trade Debts |
0.6 |
-1.2 |
3.4 |
0.8 |
-7.4 |
|
Advances/Deposits |
-1.1 |
4.2 |
-4.8 |
-0.6 |
-0.9 |
|
Accrued Interest |
- |
- |
- |
0.0 |
0.0 |
|
Trade Deposits & Short Term Prepayments |
-0.1 |
0.0 |
0.1 |
-0.1 |
0.2 |
|
Other Receivables |
-0.2 |
0.6 |
0.3 |
-1.1 |
-0.4 |
|
Sales Tax Recoverable |
-0.4 |
0.3 |
0.3 |
0.8 |
3.7 |
|
Trade & Other Payables |
2.8 |
2.9 |
4.4 |
-3.4 |
4.1 |
|
ST Finances |
- |
- |
- |
5.3 |
16.3 |
|
Income Tax |
-0.6 |
-0.5 |
-0.9 |
-1.2 |
-1.0 |
|
Gratuity |
0.0 |
0.0 |
0.0 |
- |
- |
|
Financial Charges |
-4.7 |
-8.3 |
-7.8 |
-8.0 |
-6.1 |
|
Cash from Operating Activities |
-1.8 |
4.2 |
-6.8 |
9.7 |
11.8 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-1.5 |
-7.2 |
-4.0 |
-4.1 |
-4.6 |
|
Capital Expenditure on Intangible Assets |
0.0 |
0.0 |
-0.1 |
0.0 |
0.0 |
|
Sale Fixed Assets |
0.3 |
0.4 |
0.2 |
0.1 |
0.8 |
|
Dividend Income |
0.0 |
0.2 |
0.2 |
0.1 |
0.0 |
|
Investments Made |
0.0 |
0.0 |
-5.4 |
-0.6 |
0.0 |
|
Sale of Investments |
0.0 |
3.1 |
2.1 |
0.8 |
0.0 |
|
Investment in Subsidiary |
- |
- |
- |
0.0 |
- |
|
LT Security Deposits |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-1.2 |
-3.5 |
-7.1 |
-3.7 |
-3.8 |
|
|
|
|
|
|
|
|
Issue of Right Shares |
- |
0.0 |
4.7 |
0.0 |
- |
|
Redeemable Capital |
0.0 |
-0.5 |
-1.3 |
-1.3 |
-1.3 |
|
Long Term Loans, Net |
0.0 |
-1.6 |
-1.0 |
-5.5 |
-6.0 |
|
Short Term Borrowings |
0.6 |
4.2 |
11.4 |
- |
- |
|
Dividend |
0.0 |
0.0 |
-1.0 |
0.0 |
0.0 |
|
Cash from Financing Activities |
0.6 |
2.2 |
12.7 |
-6.8 |
-7.4 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-2.4 |
2.8 |
-1.2 |
-0.8 |
0.7 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
3.4 |
0.7 |
2.1 |
3.0 |
2.3 |
|
Net Cash - Ending Balance |
0.9 |
3.6 |
0.9 |
2.2 |
3.0 |
|
Cash Interest Paid |
4.7 |
8.3 |
7.8 |
8.0 |
6.1 |
|
Cash Taxes Paid |
-0.6 |
0.5 |
0.9 |
1.2 |
1.0 |
Interim Cash Flows
As Reported
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
31-Mar-2010 |
31-Dec-2009 |
|
Period Length |
6 Months |
3 Months |
12 Months |
9 Months |
6 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
PKR |
PKR |
PKR |
PKR |
PKR |
|
Exchange Rate
(Period Average) |
85.739297 |
85.692742 |
83.860328 |
83.615985 |
83.124158 |
|
|
|
|
|
|
|
|
Profit Before Tax |
-8.9 |
-3.3 |
-13.3 |
-8.2 |
-5.3 |
|
Depreciation |
1.7 |
0.9 |
3.9 |
2.8 |
1.9 |
|
Amortisation |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividend Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Disposal Fixed Asset |
0.0 |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Gain on Sale of Shares |
- |
- |
0.0 |
- |
- |
|
Impairment on Short term Investment |
- |
0.0 |
0.9 |
0.8 |
- |
|
Provision for doubtful debts |
- |
- |
0.6 |
- |
- |
|
Impairmnt Loss on Equity Investment |
0.0 |
- |
- |
- |
0.8 |
|
Financial Charges |
4.5 |
2.1 |
8.6 |
5.9 |
3.8 |
|
Stores/Spares |
0.5 |
0.1 |
0.5 |
0.2 |
0.4 |
|
Stock in Trade |
4.6 |
0.5 |
0.9 |
0.1 |
1.4 |
|
Trade Debts |
0.4 |
-0.9 |
0.6 |
-0.2 |
-0.4 |
|
Loans and Advances |
1.0 |
0.6 |
-1.1 |
-1.5 |
-1.5 |
|
Trade Deposits & Short Term Prepayments |
0.0 |
-0.1 |
-0.1 |
0.0 |
-0.1 |
|
Other Receivables |
-0.5 |
-0.5 |
-0.2 |
-0.7 |
-0.6 |
|
Sales Tax Recoverable |
0.3 |
0.2 |
-0.4 |
-0.2 |
0.0 |
|
Trade & Other Payables |
-1.1 |
-0.2 |
2.8 |
0.5 |
1.7 |
|
Income Tax |
-0.3 |
-0.1 |
-0.6 |
-0.4 |
-0.3 |
|
Gratuity |
- |
- |
0.0 |
- |
- |
|
Financial Charges |
-1.2 |
-0.1 |
-4.7 |
-2.9 |
-2.6 |
|
Cash from Operating Activities |
1.0 |
-0.9 |
-1.8 |
-3.9 |
-0.8 |
|
|
|
|
|
|
|
|
Capital Expenditures |
-0.3 |
-0.1 |
-1.5 |
-1.2 |
-1.2 |
|
Capital Expenditure on Intangible Assets |
- |
0.0 |
0.0 |
- |
- |
|
Sale Fixed Assets |
0.1 |
0.1 |
0.3 |
0.3 |
0.0 |
|
Dividend Income |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investments Made |
- |
- |
0.0 |
- |
- |
|
Sale of Investments |
- |
- |
0.0 |
- |
- |
|
LT Security Deposits |
0.0 |
0.0 |
0.0 |
- |
0.0 |
|
Long Term Investment |
- |
- |
- |
0.0 |
- |
|
Cash from Investing Activities |
-0.2 |
0.0 |
-1.2 |
-0.8 |
-1.2 |
|
|
|
|
|
|
|
|
Redeemable Capital |
- |
- |
0.0 |
- |
- |
|
Long Term Loans, Net |
- |
- |
0.0 |
0.0 |
0.0 |
|
Short Term Borrowings |
- |
- |
0.6 |
- |
- |
|
Dividend |
- |
- |
0.0 |
- |
- |
|
Short Term Borrowings |
-1.3 |
0.8 |
- |
1.7 |
-0.6 |
|
Cash from Financing Activities |
-1.3 |
0.8 |
0.6 |
1.7 |
-0.6 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-0.4 |
-0.1 |
-2.4 |
-3.1 |
-2.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
0.9 |
0.9 |
3.4 |
3.4 |
3.4 |
|
Net Cash - Ending Balance |
0.5 |
0.8 |
0.9 |
0.3 |
0.8 |
|
Cash Interest Paid |
1.2 |
0.1 |
4.7 |
2.9 |
2.6 |
|
Cash Taxes Paid |
0.3 |
0.1 |
0.6 |
0.4 |
0.3 |
Geographic Segments
Financials in: As Reported (mil)
|
Annual |
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Business Segments
Financials in: As Reported (mil)
|
Annual |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Business Segments
Financials in: As Reported (mil)
|
Interim |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.07 |
|
UK Pound |
1 |
Rs.79.16 |
|
Euro |
1 |
Rs.69.04 |
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.