MIRA INFORM REPORT

Report Date :

29.06.2012

IDENTIFICATION DETAILS

Name :	CLOVER PAKISTAN LIMITED
Formerly Known As :	CLOVER FOODS LTD
Registered Office :	Lakson Square Building No. 2, Sarwar Shaheed Road Karachi, 74200
Country :	Pakistan
Financials (as on) :	30.06.2011
Date of Incorporation :	30.09.1986
Legal Form :	Public Independent
Line of Business :	Food Processing Industries
No. of Employees :	117

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
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 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Pakistan	B2	B2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name and address

Top of Form

Bottom of Form

Clover Pakistan Limited

Lakson Square
Building No. 2, Sarwar Shaheed Road
Karachi, 74200
Pakistan
Tel:	92-21-5698000
Fax:	92-21-5685489
www.clover.com.pk

Employees:

117

Company Type:

Public Independent

Traded:

Karachi Stock Exchange:

CLOV

Incorporation Date:

30-Sep-1986

Auditor:

Ernst & Young Ford Rhodes Sidat Hyder

Financials in:	USD (mil)
Fiscal Year End:	30-Jun-2011
Reporting Currency:	Pakistan Rupee
Annual Sales:	15.7 ^1
Net Income:	0.5
Total Assets:	9.5 ^2
Market Value:	9.6
	(08-Jun-2012)

Business Description

Clover Pakistan Limited is a Pakistan-based company engaged in the food processing industry. The Company is engaged in the manufacturing and sale of food products. The Company's major production is TANG-branded powder drink. The Company has trademark license agreement with Kraft Foods Holdings, Inc. United States of America. Other products include chocolates and cream cheese. It also trades plastic and personal care products. The Company operates in two segments, being Food and Consumer Durables. During the fiscal year ended June 30, 2011, 98.43% of the Company's revenue came from Food segment. On April 2, 2012, the Company sold and transferred its manufacturing facilities and other assets relating to its Tang business to Kraft Foods Pakistan Limited, and the Company has, as of April 2, 2012, ceased to manufacture Tang product. For the six months ended 31 December 2010, Clover Pakistan Limited's revenues increased 5% to PKR383.8M. Net Loss totaled PKR106M, up from PKR26.2M. Revenue reflects increased income from food segment. Net loss reflects an increase in cost of sales and higher finance costs. The Company is engaged in the manufacturing and sale of food and plastic products. It also trades food and personal care products.

Industry

Industry	Food Processing
ANZSIC 2006:	1199 - Other Food Product Manufacturing Not Elsewhere Classified
NACE 2002:	1589 - Manufacture of other food products not elsewhere classified
NAICS 2002:	311999 - All Other Miscellaneous Food Manufacturing
UK SIC 2003:	1589 - Manufacture of other food products not elsewhere classified
US SIC 1987:	2099 - Food Preparations, Not Elsewhere Classified

Key Executives

Name	Title
Zulfiqar Ali Lakhani	Chief Executive, Director
Mansoor Ahmed	Company Secretary
Sultan Ali Lakhani	Advisor
Iqbal Ali Lakhani	Non-Executive Chairman of the Board
Tasleemudin Ahmed Batlay	Non-Executive Director

Significant Developments

Topic	#*	Most Recent Headline	Date
Divestitures	3	Clover Pakistan Limited Update On Sale Of Tang Business Assets To Kraft Foods Pakistan Limited	3-Apr-2012
Dividends	1	Clover Pakistan Limited to Pay FY 2010-2011 Final Dividend	22-Aug-2011

* number of significant developments within the last 12 months

News

Title	Date
Clover Pakistan receives offer from Kraft Foods South Asian Media Network (Pakistan) (135 Words)	16-Nov-2011
Karachi Stock Exchange - Top Symbols by Price Increase Daily Pak Banker (Pakistan) (430 Words)	4-Oct-2011
Karachi Stock Exchange - Top Symbols by Price Increase Daily Pak Banker (Pakistan) (428 Words)	30-Sep-2011
Karachi Stock Exchange - Top Symbols by Price Increase Daily Pak Banker (Pakistan) (445 Words)	29-Sep-2011
Karachi Stock Exchange - Top Symbols by Percent Decrease Daily Pak Banker (Pakistan) (440 Words)	20-Sep-2011

Financial Summary

As of 31-Mar-2012

Key Ratios	Company	Industry
Current Ratio (MRQ)	6.45	1.53
Quick Ratio (MRQ)	6.40	0.78
Debt to Equity (MRQ)	0.0000	1.14
Sales 5 Year Growth	12.34	6.97
Net Profit Margin (TTM) %	78.81	7.06
Return on Assets (TTM) %	70.98	7.05
Return on Equity (TTM) %	97.12	21.45

Stock Snapshot

Traded: Karachi Stock Exchange: CLOV

As of 8-Jun-2012

   Financials in: PKR

Recent Price	95.74	EPS	4.07
52 Week High	97.75	Price/Sales	0.67
52 Week Low	45.10	Price/Earnings	0.85
Avg. Volume (mil)	0.0029	Price/Book	2.28
Market Value (mil)	903.30	Beta	0.28

	Price % Change	Rel S&P 500%
4 Week	29.41%	35.82%
13 Week	94.08%	91.14%
52 Week	38.75%	26.18%
Year to Date	74.07%	45.69%

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
Lakson Square
Building No. 2, Sarwar Shaheed Road
Karachi, 74200
Pakistan

Tel:	92-21-5698000
Fax:	92-21-5685489

www.clover.com.pk

Quote Symbol - Exchange
CLOV - Karachi Stock Exchange
Sales PKR(mil):	1,340.9
Assets PKR(mil):	812.8
Employees:	117
Fiscal Year End:	30-Jun-2011

Industry:	Food Processing

Incorporation Date:	30-Sep-1986
Company Type:	Public Independent
Quoted Status:	Quoted
Previous Name:	Clover Foods Ltd

Chief Executive, Director:	Zulfiqar Ali Lakhani

Company Web Links

Company Contact/E-mail

Corporate History/Profile

Executives

Financial Information

Home Page

News Releases

Products/Services

Contents Industry Codes Business Description Brand/Trade Names Financial Data

Market Data Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:
1133	-	Cheese and Other Dairy Product Manufacturing
4129	-	Other Specialised Food Retailing
3609	-	Other Grocery Wholesaling
1182	-	Confectionery Manufacturing
3603	-	Dairy Produce Wholesaling
1919	-	Other Polymer Product Manufacturing
3739	-	Other Goods Wholesaling Not Elsewhere Classified
1199	-	Other Food Product Manufacturing Not Elsewhere Classified

NACE 2002 Codes:
5147	-	Wholesale of other household goods
5136	-	Wholesale of sugar and chocolate and sugar confectionery
5133	-	Wholesale of dairy produce, eggs and edible oils and fats
1551	-	Operation of dairies and cheese making
5227	-	Other retail sale of food, beverages and tobacco in specialised stores
2524	-	Manufacture of other plastic products
1589	-	Manufacture of other food products not elsewhere classified
5138	-	Wholesale of other food including fish, crustaceans and molluscs
1584	-	Manufacture of cocoa, chocolate and sugar confectionery

NAICS 2002 Codes:
424450	-	Confectionery Merchant Wholesalers
423990	-	Other Miscellaneous Durable Goods Merchant Wholesalers
326199	-	All Other Plastics Product Manufacturing
424490	-	Other Grocery and Related Products Merchant Wholesalers
311999	-	All Other Miscellaneous Food Manufacturing
311513	-	Cheese Manufacturing
424430	-	Dairy Product (except Dried or Canned) Merchant Wholesalers
311320	-	Chocolate and Confectionery Manufacturing from Cacao Beans
445299	-	All Other Specialty Food Stores

US SIC 1987:
5099	-	Durable Goods, Not Elsewhere Classified
2099	-	Food Preparations, Not Elsewhere Classified
2066	-	Chocolate and Cocoa Products
5143	-	Dairy Products, Except Dried or Canned
2022	-	Natural, Processed, and Imitation Cheese
5499	-	Miscellaneous Food Stores
5149	-	Groceries and Related Products, Not Elsewhere Classified
3089	-	Plastics Products, Not Elsewhere Classified
5145	-	Confectionery

UK SIC 2003:
5136	-	Wholesale of sugar and chocolate and sugar confectionery
2524	-	Manufacture of other plastic products
1589	-	Manufacture of other food products not elsewhere classified
5138	-	Wholesale of other food including fish, crustaceans and molluscs
15841	-	Manufacture of cocoa and chocolate confectionery
15512	-	Butter and cheese production
5227	-	Other retail sale of food, beverages and tobacco in specialised stores
51331	-	Wholesale of dairy produce
5147	-	Wholesale of other household goods

Business Description

Clover Pakistan Limited is a Pakistan-based company engaged in the food processing industry. The Company is engaged in the manufacturing and sale of food products. The Company's major production is TANG-branded powder drink. The Company has trademark license agreement with Kraft Foods Holdings, Inc. United States of America. Other products include chocolates and cream cheese. It also trades plastic and personal care products. The Company operates in two segments, being Food and Consumer Durables. During the fiscal year ended June 30, 2011, 98.43% of the Company's revenue came from Food segment. On April 2, 2012, the Company sold and transferred its manufacturing facilities and other assets relating to its Tang business to Kraft Foods Pakistan Limited, and the Company has, as of April 2, 2012, ceased to manufacture Tang product. For the six months ended 31 December 2010, Clover Pakistan Limited's revenues increased 5% to PKR383.8M. Net Loss totaled PKR106M, up from PKR26.2M. Revenue reflects increased income from food segment. Net loss reflects an increase in cost of sales and higher finance costs. The Company is engaged in the manufacturing and sale of food and plastic products. It also trades food and personal care products.

More Business Descriptions

Manufacture and sale of food; plastic products and personal care products

Food Products Mfr & Sales

Brand/Trade Names
Tang	Lacnor

Financial Data

Financials in:	PKR(mil)
Revenue:	1,340.9
Net Income:	39.6
Assets:	812.8
Long Term Debt:	0.0
Total Liabilities:	417.1
Working Capital:	0.3
Date of Financial Data:	30-Jun-2011

1 Year Growth

8.0%

162.3%

6.7%

Market Data

Quote Symbol:	CLOV
Exchange:	Karachi Stock Exchange
Currency:	PKR
Stock Price:	95.7
Stock Price Date:	06-08-2012
52 Week Price Change %:	38.8
Market Value (mil):	903,295.4
SEDOL:	6204572
ISIN:	PK0036601018
Equity and Dept Distribution:
06/2004 Bonus shares issued 2 new shares for 5 old shares. 09/2006 Bonus shares issued 1 new share for 5 old shares. 06/2007 Bonus shares issued 1 new share for 5 old shares. 09/2008, Scrip Issue, 1 new share for every 5 shares held.

Key Corporate Relationships

Auditor:	Ernst & Young Ford Rhodes Sidat Hyder
Auditor:	Ernst & Young Ford Rhodes Sidat Hyder, Ford Rhodes Sidat Hyder & Co

Executives Report

Board of Directors

Name	Title	Function
Iqbal Ali Lakhani	Non-Executive Chairman of the Board	Chairman
Biography: Mr. Iqbal Ali Lakhani is the Non-Executive Chairman of the Board of Clover Pakistan Limited. He is the Chairman of Company’s Audit Committee.
Tasleemudin Ahmed Batlay	Non-Executive Director	Director/Board Member
Biography: Mr. Tasleemuddin Ahmed Batlay is a Non-Executive Director of Clover Pakistan Limited. He also serves as a Member of Company’s Audit Committee.
A. Aziz H. Ebrahim	Non-Executive Director	Director/Board Member
Shahid Ahmed Khan	Non-Executive Director	Director/Board Member
Zulfiqar Ali Lakhani	Chief Executive, Director	Director/Board Member
Compensation/Salary:1,111,200 Compensation Currency: PKR
Amin Mohammed Lakhani	Non-Executive Director	Director/Board Member
M.A. Qadir	Non-Executive Director	Director/Board Member
Biography: Mr. M.A. Qadir is a Non-Executive Director of Clover Pakistan Limited. He also serves as a Member of Company’s Audit Committee.

Executives

Name	Title	Function
Zulfiqar Ali Lakhani	Chief Executive, Director	Chief Executive Officer
Compensation/Salary:1,111,200 Compensation Currency: PKR
Sultan Ali Lakhani	Advisor	Administration Executive
Mansoor Ahmed	Company Secretary	Company Secretary

Significant Developments

Clover Pakistan Limited Update On Sale Of Tang Business Assets To Kraft Foods Pakistan Limited

Apr 03, 2012

Clover Pakistan Limited announced that on April 2, 2012, the Asset Purchase Agreement has closed and that the Company has sold and transferred its manufacturing facilities and other assets relating to its Tang business to Kraft Foods Pakistan Limited, and the Company has as of April 2, 2012 ceased to manufacture Tang product. The Company has received 92% of the sale consideration for the assets and the entire consideration for the inventory, and the remaining 8% of the consideration for the assets will be paid after 12 months of the Closing. In addition, as mentioned in the letter of March 26, 2012, the Company will provide transitional services to Kraft Foods Pakistan Limited for the distribution of the Tang product for a limited period of time.

Clover Pakistan Limited Receives Binding Offer for Purchase of Tang Business

Feb 17, 2012

Clover Pakistan Limited announced that it has received from Kraft Foods Pakistan Limited a binding offer to purchase all assets relating to the manufacture, marketing and sale of Tang including the manufacturing facilities, together with the intangibles of the business and inventory, excluding the receivables and liabilities. Kraft Foods Pakistan Limited has requested the Company to provide certain transitional services for the distribution of Tang product. The total price offered by Kraft Foods Pakistan Limited is PKR 650 million.

Clover Pakistan Limited Receives Proposal for Purchase of Tang Business

Nov 14, 2011

Clover Pakistan Limited announced that it has received from Kraft Foods Pakistan Limited a non-binding offer to purchase all assets relating to the manufacture, marketing and sale of Tang including the manufacturing facilities. The Board of Directors of the Company has decided to enter into further discussions with Kraft Foods Pakistan Limited for the possible sale.

Clover Pakistan Limited to Pay FY 2010-2011 Final Dividend

Aug 22, 2011

Clover Pakistan Limited announced that it will pay a final cash dividend for fiscal year ended June 30, 2011, at PKR 4.00 per share to shareholders of record on October 17, 2011. It paid final cash dividend for fiscal year ended June 30, 2010 at PKR 1.50 per share.

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	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 30-Jun-2011	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2009	Updated Normal 30-Jun-2008	Reclassified Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	85.565587	83.860328	78.573941	62.550956	60.637036
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Gross Revenue	20.8	19.1	17.0	22.1	19.1
Sales Returns and Allowances	-1.4	-1.2	-1.0	-1.3	-1.3
Excise Tax Receipts	-3.7	-3.1	-2.8	-3.4	-2.8
Revenue	15.7	14.8	13.2	17.4	15.0
Total Revenue	15.7	14.8	13.2	17.4	15.0
Cost of Revenue	12.5	11.7	9.9	12.1	8.9
Cost of Revenue, Total	12.5	11.7	9.9	12.1	8.9
Gross Profit	3.1	3.1	3.3	5.3	6.1
Selling/General/Administrative Expense	0.7	0.7	0.8	0.9	1.4
Labor & Related Expense	0.3	0.5	0.5	0.6	0.5
Advertising Expense	1.4	1.5	1.6	1.6	1.9
Total Selling/General/Administrative Expenses	2.5	2.7	2.9	3.0	3.8
Depreciation	0.0	0.1	0.1	0.0	0.1
Amortization of Intangibles	0.0	0.0	0.0	0.0	-
Depreciation/Amortization	0.0	0.1	0.1	0.0	0.1
Investment Income - Operating	0.0	0.0	0.1	-0.1	0.2
Interest/Investment Income - Operating	0.0	0.0	0.1	-0.1	0.2
Interest Expense (Income) - Net Operating Total	0.0	0.0	0.1	-0.1	0.2
Loss (Gain) on Sale of Assets - Operating	0.0	0.0	0.0	0.0	0.0
Unusual Expense (Income)	0.0	0.0	0.0	0.0	0.0
Other Operating Expense	0.1	0.0	0.0	0.2	0.0
Other, Net	-0.2	-0.1	0.0	-0.1	-0.1
Other Operating Expenses, Total	-0.1	-0.1	0.0	0.1	-0.1
Total Operating Expense	14.9	14.4	12.9	15.1	12.8
Operating Income	0.8	0.4	0.3	2.3	2.2
Interest Expense - Non-Operating	0.0	0.0	-0.1	0.0	0.0
Interest Expense, Net Non-Operating	0.0	0.0	-0.1	0.0	0.0
Interest Income (Expense) - Net Non-Operating Total	0.0	0.0	-0.1	0.0	0.0
Other Non-Operating Income (Expense)	-	-	0.0	0.0	0.0
Other, Net	-	-	0.0	0.0	0.0
Income Before Tax	0.7	0.4	0.2	2.3	2.2
Total Income Tax	0.3	0.2	0.1	0.7	0.7
Income After Tax	0.5	0.2	0.0	1.5	1.4
Net Income Before Extraord Items	0.5	0.2	0.0	1.5	1.4
Net Income	0.5	0.2	0.0	1.5	1.4
Income Available to Common Excl Extraord Items	0.5	0.2	0.0	1.5	1.4
Income Available to Common Incl Extraord Items	0.5	0.2	0.0	1.5	1.4
Basic/Primary Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Basic EPS Excl Extraord Items	0.05	0.02	0.01	0.16	0.15
Basic/Primary EPS Incl Extraord Items	0.05	0.02	0.01	0.16	0.15
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	0.5	0.2	0.0	1.5	1.4
Diluted Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Diluted EPS Excl Extraord Items	0.05	0.02	0.01	0.16	0.15
Diluted EPS Incl Extraord Items	0.05	0.02	0.01	0.16	0.15
Dividends per Share - Common Stock Primary Issue	0.05	0.02	0.00	0.05	0.06
Gross Dividends - Common Stock	0.4	0.2	0.0	0.4	0.5
Interest Expense, Supplemental	0.0	0.0	0.1	0.0	0.0
Depreciation, Supplemental	0.1	0.1	0.2	0.1	0.1
Total Special Items	0.0	0.0	0.0	0.0	0.0
Normalized Income Before Tax	0.7	0.4	0.2	2.2	2.2
Effect of Special Items on Income Taxes	0.0	0.0	0.0	0.0	0.0
Inc Tax Ex Impact of Sp Items	0.3	0.2	0.1	0.7	0.7
Normalized Income After Tax	0.4	0.2	0.1	1.5	1.4
Normalized Inc. Avail to Com.	0.4	0.2	0.1	1.5	1.4
Basic Normalized EPS	0.05	0.02	0.01	0.16	0.15
Diluted Normalized EPS	0.05	0.02	0.01	0.16	0.15
Amort of Intangibles, Supplemental	0.0	0.0	0.0	0.0	-
Rental Expenses	0.1	0.1	0.1	0.1	0.1
Advertising Expense, Supplemental	1.4	1.5	1.6	1.6	1.9
Normalized EBIT	0.8	0.4	0.3	2.2	2.4
Normalized EBITDA	0.9	0.6	0.5	2.3	2.4
Current Tax - Domestic	0.3	0.2	0.1	0.6	0.8
Current Tax - Other	0.0	0.1	0.1	0.0	0.0
Current Tax - Total	0.3	0.2	0.1	0.6	0.8
Deferred Tax - Total	0.0	0.0	0.0	0.1	0.0
Deferred Tax - Total	0.0	0.0	0.0	0.1	0.0
Income Tax - Total	0.3	0.2	0.1	0.7	0.7
Interest Cost - Domestic	0.0	0.0	0.0	0.0	0.0
Service Cost - Domestic	0.0	0.0	0.0	0.0	0.0
Prior Service Cost - Domestic	0.0	0.0	0.0	0.0	0.0
Expected Return on Assets - Domestic	0.0	0.0	0.0	0.0	0.0
Actuarial Gains and Losses - Domestic	0.0	0.0	0.0	0.0	0.0
Other Pension, Net - Domestic	-	-	0.0	0.0	0.0
Domestic Pension Plan Expense	0.0	0.0	0.0	0.1	0.0
Total Pension Expense	0.0	0.0	0.0	0.1	0.0
Discount Rate - Domestic	14.00%	14.00%	13.00%	12.00%	10.00%
Expected Rate of Return - Domestic	11.00%	10.00%	13.00%	9.00%	3.00%
Compensation Rate - Domestic	14.00%	14.00%	12.00%	10.00%	10.00%
Total Plan Interest Cost	0.0	0.0	0.0	0.0	0.0
Total Plan Service Cost	0.0	0.0	0.0	0.0	0.0
Total Plan Expected Return	0.0	0.0	0.0	0.0	0.0
Total Plan Other Expense	-	-	0.0	0.0	0.0

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	30-Jun-2011	30-Jun-2010	30-Jun-2009	30-Jun-2008	30-Jun-2007
UpdateType/Date	Updated Normal 30-Jun-2011	Updated Normal 30-Jun-2010	Restated Normal 30-Jun-2010	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate	85.97	85.525	81.44	68.45	60.47
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash	2.0	1.4	1.7	1.1	1.5
Short Term Investments	1.2	1.5	0.7	2.1	4.5
Cash and Short Term Investments	3.2	2.9	2.5	3.2	6.0
Accounts Receivable - Trade, Gross	1.4	1.4	1.4	1.2	0.7
Provision for Doubtful Accounts	-0.1	-0.1	-0.1	-0.1	-0.1
Trade Accounts Receivable - Net	1.4	1.3	1.4	1.1	0.6
Other Receivables	1.0	1.0	0.7	0.5	0.1
Total Receivables, Net	2.4	2.3	2.1	1.6	0.7
Inventories - Finished Goods	1.3	1.0	1.0	1.0	0.5
Inventories - Work In Progress	0.1	0.0	0.1	0.0	0.0
Inventories - Raw Materials	1.2	1.1	1.3	1.6	0.9
Inventories - Other	0.5	0.4	0.4	0.4	0.3
Total Inventory	3.2	2.5	2.8	3.1	1.7
Prepaid Expenses	0.0	0.0	0.1	0.0	0.0
Other Current Assets	0.0	0.0	0.0	0.0	0.0
Other Current Assets, Total	0.0	0.0	0.0	0.0	0.0
Total Current Assets	8.8	7.7	7.5	7.9	8.5
Buildings	0.4	0.4	0.4	0.5	0.4
Land/Improvements	0.1	0.4	0.5	0.1	0.1
Machinery/Equipment	1.4	1.5	1.5	1.8	1.7
Leases	-	-	-	-	0.0
Property/Plant/Equipment - Gross	1.8	2.3	2.4	2.3	2.1
Accumulated Depreciation	-1.2	-1.2	-1.1	-1.1	-1.2
Property/Plant/Equipment - Net	0.6	1.1	1.3	1.2	0.9
Intangibles - Gross	0.0	0.0	0.0	0.0	-
Accumulated Intangible Amortization	0.0	0.0	0.0	0.0	-
Intangibles, Net	0.0	0.0	0.0	0.0	-
Note Receivable - Long Term	0.0	0.1	0.0	0.1	0.0
Other Long Term Assets	0.0	0.0	0.0	0.0	0.1
Other Long Term Assets, Total	0.0	0.0	0.0	0.0	0.1
Total Assets	9.5	8.9	8.9	9.2	9.5
Accounts Payable	3.6	3.4	3.4	2.3	2.8
Accrued Expenses	0.6	0.5	0.4	0.6	0.7
Notes Payable/Short Term Debt	0.0	0.0	0.0	0.0	0.0
Dividends Payable	0.0	0.0	0.0	0.0	0.0
Customer Advances	-	-	-	0.0	0.0
Income Taxes Payable	-	-	-	0.0	0.1
Other Payables	0.5	0.5	0.5	0.6	0.5
Other Current Liabilities	0.1	0.0	0.0	0.0	0.0
Other Current liabilities, Total	0.6	0.6	0.6	0.6	0.7
Total Current Liabilities	4.8	4.5	4.4	3.5	4.2
Capital Lease Obligations	-	-	-	-	0.0
Total Long Term Debt	0.0	0.0	0.0	0.0	0.0
Total Debt	0.0	0.0	0.0	0.0	0.0
Deferred Income Tax - LT Liability	0.0	0.1	0.1	0.1	0.0
Deferred Income Tax	0.0	0.1	0.1	0.1	0.0
Other Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Other Liabilities, Total	0.0	0.0	0.0	0.0	0.0
Total Liabilities	4.9	4.6	4.5	3.6	4.3
Common Stock	1.1	1.1	1.2	1.1	1.1
Common Stock	1.1	1.1	1.2	1.1	1.1
Retained Earnings (Accumulated Deficit)	3.5	3.2	3.2	4.4	4.1
Unrealized Gain (Loss)	0.0	0.0	-	0.0	0.1
Total Equity	4.6	4.3	4.4	5.5	5.2
Total Liabilities & Shareholders’ Equity	9.5	8.9	8.9	9.2	9.5
Shares Outstanding - Common Stock Primary Issue	9.4	9.4	9.4	7.9	9.4
Total Common Shares Outstanding	9.4	9.4	9.4	7.9	9.4
Number of Common Shareholders	658	682	678	636	573
Accumulated Intangible Amort, Suppl.	0.0	0.0	0.0	0.0	-
Deferred Revenue - Current	-	-	-	0.0	0.0
Total Operating Leases, Supplemental	-	-	-	-	0.0
Operating Lease Payments Due in Year 1	-	-	-	-	0.0
Operating Lease Payments Due in Year 2	-	-	-	-	0.0
Operating Lease Payments Due in Year 3	-	-	-	-	0.0
Operating Lease Payments Due in Year 4	-	-	-	-	0.0
Operating Lease Payments Due in Year 5	-	-	-	-	0.0
Operating Lease Pymts. Due in 2-3 Years	-	-	-	-	0.0
Operating Lease Pymts. Due in 4-5 Years	-	-	-	-	0.0
Oper. Lse. Pymts. Due in Year 6 & Beyond	-	-	-	-	0.0
Pension Obligation - Domestic	0.1	0.2	0.2	0.2	0.1
Plan Assets - Domestic	0.2	0.2	0.1	0.1	0.1
Funded Status - Domestic	0.0	0.0	-0.1	0.0	-0.1
Total Funded Status	0.0	0.0	-0.1	0.0	-0.1
Discount Rate - Domestic	14.00%	14.00%	13.00%	12.00%	10.00%
Expected Rate of Return - Domestic	11.00%	10.00%	13.00%	9.00%	3.00%
Compensation Rate - Domestic	14.00%	14.00%	12.00%	10.00%	10.00%
Prepaid Benefits - Domestic	0.0	0.0	-	-	-
Accrued Liabilities - Domestic	-	-	-0.1	0.0	-0.1
Net Assets Recognized on Balance Sheet	0.0	0.0	-0.1	0.0	-0.1
Debt Securities % - Domestic	83.00%	-	-	-	-
Other Investments % - Domestic	17.00%	100.00%	-	-	-
Total Plan Obligations	0.1	0.2	0.2	0.2	0.1
Total Plan Assets	0.2	0.2	0.1	0.1	0.1

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	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 30-Jun-2011	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	85.565587	83.860328	78.573941	62.550956	60.637036
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	0.7	0.4	0.2	2.3	2.2
Depreciation	0.1	0.1	0.2	0.1	0.2
Depreciation/Depletion	0.1	0.1	0.2	0.1	0.2
Amortization of Intangibles	0.0	0.0	0.0	-	-
Amortization	0.0	0.0	0.0	-	-
Unusual Items	0.0	0.0	0.0	-0.3	0.0
Other Non-Cash Items	0.1	0.1	0.2	0.2	0.1
Non-Cash Items	0.0	0.1	0.2	-0.1	0.1
Accounts Receivable	0.0	-0.1	-0.4	-0.8	-0.1
Inventories	-0.6	0.2	-0.3	-1.7	0.0
Other Assets	0.1	-0.1	-0.1	-0.1	0.1
Accounts Payable	0.3	0.3	1.2	0.0	0.1
Payable/Accrued	-	-	-	-0.1	0.6
Other Operating Cash Flow	-0.6	-0.4	-0.5	-1.2	-0.8
Changes in Working Capital	-0.8	-0.1	0.0	-3.9	0.0
Cash from Operating Activities	0.1	0.5	0.5	-1.6	2.4
Purchase of Fixed Assets	0.0	0.0	-0.5	-0.5	-0.2
Purchase/Acquisition of Intangibles	-	0.0	0.0	-	-
Capital Expenditures	0.0	0.0	-0.5	-0.5	-0.2
Sale of Fixed Assets	0.4	0.0	0.0	0.0	0.0
Sale/Maturity of Investment	0.6	0.3	1.8	4.1	0.2
Purchase of Investments	-1.8	-0.3	0.0	-2.2	-4.2
Other Investing Cash Flow	-	-	-	0.0	0.0
Other Investing Cash Flow Items, Total	-0.7	0.0	1.8	1.9	-3.9
Cash from Investing Activities	-0.8	0.0	1.4	1.4	-4.2
Other Financing Cash Flow	0.0	0.0	0.0	0.0	0.0
Financing Cash Flow Items	0.0	0.0	0.0	0.0	0.0
Cash Dividends Paid - Common	-0.2	0.0	-0.3	-0.5	-0.5
Total Cash Dividends Paid	-0.2	0.0	-0.3	-0.5	-0.5
Long Term Debt Reduction	-	-	-	0.0	0.0
Long Term Debt, Net	-	-	-	0.0	0.0
Issuance (Retirement) of Debt, Net	-	-	-	0.0	0.0
Cash from Financing Activities	-0.2	0.0	-0.3	-0.5	-0.5
Net Change in Cash	-0.8	0.5	1.6	-0.6	-2.3
Net Cash - Beginning Balance	2.9	2.4	1.0	1.9	4.2
Net Cash - Ending Balance	2.0	2.9	2.6	1.2	1.9
Cash Interest Paid	0.0	0.1	0.2	0.2	0.0
Cash Taxes Paid	0.5	0.3	0.3	0.9	0.7

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 30-Jun-2011	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2009	Updated Normal 30-Jun-2008	Reclassified Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	85.565587	83.860328	78.573941	62.550956	60.637036
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Local Manufactured	20.5	18.8	16.3	21.5	18.5
Trading	0.3	0.3	0.6	0.6	0.5
Export	-	-	-	-	0.1
Sales Tax	-3.7	-3.1	-2.8	-3.4	-2.8
Trade Discount	-1.4	-1.2	-1.0	-1.3	-1.3
Total Revenue	15.7	14.8	13.2	17.4	15.0
Cost of Sales & Services	12.5	11.7	9.9	12.1	8.9
Insurance Commission	0.0	0.0	0.0	0.0	0.0
Gain on sale of investments	0.0	0.0	-0.1	-0.3	-
Gain on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Other Income	-0.2	-0.1	0.0	-0.1	-0.1
Scrap Sales	0.0	0.0	0.0	-	-
Gain on Sale of Investments	-	-	-	-	0.0
Salaries Allowances & Other Benefits	0.3	0.5	0.5	0.6	0.5
Advertisement	1.4	1.5	1.6	1.6	1.9
Depreciation	0.0	0.1	0.1	0.0	0.1
Amortisation	0.0	0.0	0.0	0.0	-
Electricity	0.0	0.0	-	-	-
Distribution & Marketing Expenses	0.6	0.6	0.6	0.8	1.3
Administrative Expenses	0.1	0.1	0.1	0.1	0.1
Loss on disposal of fixed assets	-	0.0	0.0	0.0	-
Exchange Loss, Net	0.0	0.0	0.1	0.2	0.2
Other Charges	0.1	0.0	0.0	0.2	0.0
Total Operating Expense	14.9	14.4	12.9	15.1	12.8
Interest Expenses	0.0	0.0	-0.1	0.0	0.0
Bank Charges & Commission	-	-	0.0	0.0	0.0
Net Income Before Taxes	0.7	0.4	0.2	2.3	2.2
Provision for Income Taxes	0.3	0.2	0.1	0.7	0.7
Net Income After Taxes	0.5	0.2	0.0	1.5	1.4
Net Income Before Extra. Items	0.5	0.2	0.0	1.5	1.4
Net Income	0.5	0.2	0.0	1.5	1.4
Income Available to Com Excl ExtraOrd	0.5	0.2	0.0	1.5	1.4
Income Available to Com Incl ExtraOrd	0.5	0.2	0.0	1.5	1.4
Basic Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Basic EPS Excluding ExtraOrdinary Items	0.05	0.02	0.01	0.16	0.15
Basic EPS Including ExtraOrdinary Items	0.05	0.02	0.01	0.16	0.15
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	0.5	0.2	0.0	1.5	1.4
Diluted Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Diluted EPS Excluding ExtraOrd Items	0.05	0.02	0.01	0.16	0.15
Diluted EPS Including ExtraOrd Items	0.05	0.02	0.01	0.16	0.15
DPS-Common Stock	0.05	0.02	0.00	0.05	0.06
Gross Dividends - Common Stock	0.4	0.2	0.0	0.4	0.5
Normalized Income Before Taxes	0.7	0.4	0.2	2.2	2.2
Inc Tax Ex Impact of Sp Items	0.3	0.2	0.1	0.7	0.7
Normalized Income After Taxes	0.4	0.2	0.1	1.5	1.4
Normalized Inc. Avail to Com.	0.4	0.2	0.1	1.5	1.4
Basic Normalized EPS	0.05	0.02	0.01	0.16	0.15
Diluted Normalized EPS	0.05	0.02	0.01	0.16	0.15
Advertisement Expenses	1.4	1.5	1.6	1.6	1.9
Depreciation Expesnes	0.1	0.1	0.2	0.1	0.1
Amortisation	0.0	0.0	0.0	0.0	-
Rental Expenses	0.1	0.1	0.1	0.1	0.1
Financial Charges	0.0	0.0	0.1	0.0	0.0
Current Tax	0.3	0.2	0.1	0.6	0.8
Prior Year Tax	0.0	0.1	0.1	0.0	0.0
Current Tax - Total	0.3	0.2	0.1	0.6	0.8
Deferred Tax	0.0	0.0	0.0	0.1	0.0
Deferred Tax - Total	0.0	0.0	0.0	0.1	0.0
Income Tax - Total	0.3	0.2	0.1	0.7	0.7
Service Cost - Gratuity	0.0	0.0	0.0	0.0	0.0
Interest Cost - Gratuity	0.0	0.0	0.0	0.0	0.0
Expected Return on Assets - Gratuity	0.0	0.0	0.0	0.0	0.0
Amort. of Prior Service Cost - Gratuity	0.0	0.0	0.0	0.0	0.0
Impact of Transfered Employee - Gratuity	-	-	0.0	0.0	0.0
Actuarial Gain/Loss - Gratuity	0.0	0.0	0.0	0.0	0.0
Domestic Pension Plan Expense	0.0	0.0	0.0	0.1	0.0
Total Pension Expense	0.0	0.0	0.0	0.1	0.0
Discount Rate - Gratuity	14.00%	14.00%	13.00%	12.00%	10.00%
Compensation Rate - Gratuity	14.00%	14.00%	12.00%	10.00%	10.00%
Expected Rate of Return - Gratuity	11.00%	10.00%	13.00%	9.00%	3.00%

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 30-Jun-2011	Updated Normal 30-Jun-2010	Restated Normal 30-Jun-2010	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate	85.97	85.525	81.44	68.45	60.47
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Stores	0.0	0.0	0.0	0.0	0.0
Raw Material	1.2	1.1	1.3	1.6	0.9
Packing Material	0.5	0.4	0.4	0.4	0.3
Work-in-Process	0.1	0.0	0.1	0.0	0.0
Finished Goods	1.2	0.8	0.8	0.6	0.5
Trading Goods	0.1	0.2	0.3	0.4	0.0
Considered Goods	1.4	1.3	1.4	1.1	0.6
Considered Doubtful	0.1	0.1	0.1	0.1	0.1
Provision for Doubtful Debts	-0.1	-0.1	-0.1	-0.1	-0.1
Loans & Advances	0.0	0.2	0.1	0.2	0.1
Advances to Suppliers and Employees	0.1	0.0	0.0	-	-
Security Deposit	0.0	0.0	0.0	0.0	0.0
Deposits	0.0	0.0	0.0	0.0	0.0
Prepayments	0.0	0.0	0.1	0.0	0.0
Due Refunds From Govt.	0.2	0.2	0.3	-	-
Other Receivables	0.1	0.2	0.1	0.2	0.0
Taxation-net	0.5	0.3	0.3	0.1	0.0
Short Term Investment	1.2	1.5	0.7	2.1	4.5
Cash & Bank Balance	2.0	1.4	1.7	1.1	1.5
Total Current Assets	8.8	7.7	7.5	7.9	8.5
Freehold Land	0.0	0.0	0.0	0.0	0.0
Leasehold Land	0.1	0.4	0.4	0.1	0.1
Building on Leasehold Land	0.4	0.4	0.4	0.5	0.3
Office Premises	0.0	0.0	0.0	0.0	0.0
Plant & Machinery	0.9	0.9	1.0	1.1	1.1
Furniture & Fixtures	0.1	0.1	0.1	0.1	0.1
Office & Other Equipment	0.0	0.0	0.0	0.0	0.0
Tools & Equipments	0.0	0.0	0.0	0.0	0.0
Vehicles	0.2	0.3	0.3	0.4	0.4
Computers & Data Processing	0.1	0.1	0.1	0.1	0.1
Leased Plant & Machinery	-	-	-	-	0.0
Accumulated Depreciation	-1.2	-1.2	-1.1	-1.1	-1.2
Computer software	0.0	0.0	0.0	0.0	-
Accumulated amortization	0.0	0.0	0.0	0.0	-
Long Term Loans	0.0	0.1	0.0	0.1	0.0
Long Term Security Deposits	0.0	0.0	0.0	0.0	0.0
Adjustments	-	-	-	-	0.1
Total Assets	9.5	8.9	8.9	9.2	9.5
Due to Related Parties	0.1	0.0	0.1	0.1	0.0
Trade Creditors	2.2	2.0	1.3	1.1	1.4
Bills Payable	1.3	1.4	2.0	1.1	1.4
Royalty Payable	0.5	0.5	0.4	0.5	0.5
Accrued Expenses	0.3	0.3	0.3	0.4	0.5
Amount Due to Distributors	0.1	0.0	0.1	0.1	0.0
Advance against Export	-	-	-	0.0	0.0
Mark-up Accrued on Running Finance	0.0	0.0	0.0	0.0	0.0
Workers Profit Participation Fund	0.0	0.0	0.0	0.0	-
Workers Welfare Fund	0.0	0.0	0.0	0.0	0.0
Sales Tax Payable	0.3	0.2	0.1	0.2	0.2
Payable to Gratuity Fund	0.0	0.0	0.0	0.0	-
Employees' Provident Fund Trust	-	0.0	0.0	0.0	-
Retention Money	0.0	0.0	0.0	-	-
Unclaimed Dividends	0.0	0.0	0.0	0.0	0.0
Other Payables	0.0	0.0	0.0	0.0	0.0
Provision for Taxation	-	-	-	0.0	0.1
Total Current Liabilities	4.8	4.5	4.4	3.5	4.2
Liabilities against Finance Leases	-	-	-	-	0.0
Total Long Term Debt	-	-	-	-	0.0
Long Term Deposits	0.0	0.0	0.0	0.0	0.0
Deferred Liability	0.0	0.1	0.1	0.1	0.0
Total Liabilities	4.9	4.6	4.5	3.6	4.3
Common Stock	1.1	1.1	1.2	1.1	1.1
Surplus on Revaluation of Investments	-	-	-	0.0	0.1
General Reserve	3.0	3.0	3.1	3.0	2.6
Unappropriated Profit	0.5	0.2	0.0	1.4	1.4
Unrealised Gain on Revaluation of Availa	0.0	0.0	-	-	-
Total Equity	4.6	4.3	4.4	5.5	5.2
Total Liabilities & Shareholders' Equity	9.5	8.9	8.9	9.2	9.5
S/O-Common Stock	9.4	9.4	9.4	7.9	9.4
Total Common Shares Outstanding	9.4	9.4	9.4	7.9	9.4
Deferred Revenue	-	-	-	0.0	0.0
Accumulated Amortization	0.0	0.0	0.0	0.0	-
Number of Shareholders	658	682	678	636	573
Operating Lease within 1 Year	-	-	-	-	0.0
Operating Lease within 5 Years	-	-	-	-	0.0
Total Operating Leases, Supplemental	-	-	-	-	0.0
Projected Benefit Obligation - Gratuity	0.1	0.2	0.2	0.2	0.1
FV of Plan Assets - Gratuity	0.2	0.2	0.1	0.1	0.1
Funded Status - Gratuity	0.0	0.0	-0.1	0.0	-0.1
Total Funded Status	0.0	0.0	-0.1	0.0	-0.1
Discount Rate - Gratuity	14.00%	14.00%	13.00%	12.00%	10.00%
Compensation Rate - Gratuity	14.00%	14.00%	12.00%	10.00%	10.00%
Expected Rate of Return - Gratuity	11.00%	10.00%	13.00%	9.00%	3.00%
Prepaid Benefits - Domestic	0.0	0.0	-	-	-
Accrued Liabilities - Domestic	-	-	-0.1	0.0	-0.1
Net Assets Recognized on Balance Sheet	0.0	0.0	-0.1	0.0	-0.1
Treasury Bills	83.00%	-	-	-	-
Cash	17.00%	100.00%	-	-	-

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 30-Jun-2011	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	85.565587	83.860328	78.573941	62.550956	60.637036
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income Before Tax	0.7	0.4	0.2	2.3	2.2
Depreciation	0.1	0.1	0.2	0.1	0.2
Amortisation	0.0	0.0	0.0	-	-
Provision for Gratutiy	0.0	0.0	0.0	-	-
Financial Charges	0.1	0.1	0.2	0.2	0.0
Plant and Machinery Write off	0.0	0.0	-	-	-
Gain on Disposal of Investment	0.0	0.0	-0.1	-0.3	0.0
Gain on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Provision for Doubtful Debts	0.0	0.0	0.0	0.0	0.0
Stores	0.0	0.0	0.0	0.0	0.0
Stock in Trade	-0.6	0.2	-0.3	-1.7	0.0
Trade Debts	-0.1	0.0	-0.4	-0.7	0.0
Loans & Advances	0.1	-0.1	0.0	-0.1	0.1
Deposits, Prepayments & Other Receivable	0.0	0.1	-0.1	0.0	0.0
Other Receivables	0.0	-0.1	0.1	-0.1	0.0
Creditors, Accrued & Other Liabilities	-	-	-	-0.1	0.6
Duty refunds Due From Govt	-	0.0	-0.3	-	-
Trade and Other Payables	0.2	0.2	1.5	-	-
Sales Tax Payables	0.1	0.1	0.0	0.0	0.1
Financial Charges Paid	0.0	-0.1	-0.2	-0.2	0.0
Gratuity Paid	0.0	-0.1	0.0	-	-
Taxes Paid	-0.5	-0.3	-0.3	-0.9	-0.7
Long Term Loans	0.0	0.0	0.0	-0.1	0.0
Cash from Operating Activities	0.1	0.5	0.5	-1.6	2.4
Capital Expenditures	0.0	0.0	-0.5	-0.5	-0.2
Addition to Intangible assets	-	0.0	0.0	-	-
Payments in Relation to Cap. work-in-Pro	-	-	-	0.0	-0.1
Proceeds from Disposal of Property	0.4	0.0	0.0	0.0	0.0
Proceeds from Investment	0.6	0.3	1.8	4.1	0.2
Purchases of Investment	-1.8	-0.3	0.0	-2.2	-4.2
Long Term Deposits	-	-	-	0.0	0.0
Cash from Investing Activities	-0.8	0.0	1.4	1.4	-4.2
Repayment of Liabilities Against Finance	-	-	-	0.0	0.0
Long Term Deposits	0.0	0.0	0.0	0.0	0.0
Dividend Paid	-0.2	0.0	-0.3	-0.5	-0.5
Cash from Financing Activities	-0.2	0.0	-0.3	-0.5	-0.5
Net Change in Cash	-0.8	0.5	1.6	-0.6	-2.3
Cash Balance at Beginning	2.9	2.4	1.0	1.9	4.2
Cash Balance at Ending	2.0	2.9	2.6	1.2	1.9
Cash Interest Paid	0.0	0.1	0.2	0.2	0.0
Cash Taxes Paid	0.5	0.3	0.3	0.9	0.7

Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
Â	Quarter Ending 31-Mar-2012	Quarter Ending Yr Ago	Annual Year End 30-Jun-2011	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1	0.1	-0.23%	15.7	8.03%	7.30%	12.34%
Operating Income1	-0.4	-	0.8	93.75%	-23.13%	-12.48%
Income Available to Common Excl Extraord Items1	6.3	-	0.5	162.26%	-25.80%	-13.28%
Basic EPS Excl Extraord Items1	0.67	-	0.05	162.25%	-25.80%	-13.28%
Capital Expenditures2	0.0	107.18%	0.0	-52.03%	-60.05%	-42.87%
Cash from Operating Activities2	-2.5	-	0.1	-84.17%	-	-43.03%
Free Cash Flow	-2.5	-	0.1	-87.39%	-	-43.09%
Total Assets3	11.5	-	9.5	6.70%	8.96%	11.60%
Total Liabilities3	1.8	-	4.9	6.40%	18.74%	14.37%
Total Long Term Debt3	0.0	-	0.0	-	-	-
Total Common Shares Outstanding3	9.4	-	9.4	0.00%	6.27%	0.00%
1-ExchangeRate: PKR to USD Average for Period	90.572051	Â	85.565587	Â	Â	Â
2-ExchangeRate: PKR to USD Average for Period	88.371861	Â	85.565587	Â	Â	Â
3-ExchangeRate: PKR to USD Period End Date	90.716531	Â	85.970000	Â	Â	Â

Key Ratios
Â	30-Jun-2011	30-Jun-2010	30-Jun-2009	30-Jun-2008	30-Jun-2007
Profitability
Gross Margin	19.94%	21.01%	24.73%	30.39%	40.69%
Operating Margin	4.86%	2.71%	1.97%	13.22%	14.67%
Pretax Margin	4.73%	2.58%	1.38%	13.07%	14.51%
Net Profit Margin	2.95%	1.22%	0.38%	8.92%	9.58%
Financial Strength
Current Ratio	1.84	1.72	1.70	2.25	2.02
Long Term Debt/Equity	0.00	0.00	0.00	0.00	0.00
Total Debt/Equity	0.00	0.00	0.00	0.00	0.00
Management Effectiveness
Return on Assets	5.02%	2.03%	0.57%	16.10%	16.74%
Return on Equity	10.34%	4.16%	1.06%	27.82%	30.48%
Efficiency
Receivables Turnover	6.74	6.77	7.34	14.22	20.77
Inventory Turnover	4.40	4.37	3.54	4.81	5.12
Asset Turnover	1.70	1.67	1.53	1.80	1.75

Market Valuation USD (mil)
P/E (TTM)	1.49	.	Enterprise Value2	9.7
Price/Sales (TTM)	1.17	.	Enterprise Value/Revenue (TTM)	1.15
Price/Book (MRQ)	1.02	.	Enterprise Value/EBITDA (TTM)	41.65
Market Cap as of 08-Jun-20121	9.6	.
1-ExchangeRate: PKR to USD on 8-Jun-2012	94.150002
2-ExchangeRate: PKR to USD on 31-Mar-2012	90.716531

Annual Ratios

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
Financial Strength
Current Ratio	1.84	1.72	1.70	2.25	2.02
Quick/Acid Test Ratio	1.16	1.15	1.04	1.37	1.60
Working Capital1	4.0	3.2	3.1	4.4	4.3
Long Term Debt/Equity	0.00	0.00	0.00	0.00	0.00
Total Debt/Equity	0.00	0.00	0.00	0.00	0.00
Long Term Debt/Total Capital	0.00	0.00	0.00	0.00	0.00
Total Debt/Total Capital	0.00	0.00	0.00	0.00	0.00
Payout Ratio	95.41%	93.83%	0.00%	28.42%	40.49%
Effective Tax Rate	37.59%	52.84%	72.72%	31.73%	34.00%
Total Capital1	4.6	4.3	4.4	5.5	5.2
Efficiency
Asset Turnover	1.70	1.67	1.53	1.80	1.75
Inventory Turnover	4.40	4.37	3.54	4.81	5.12
Days In Inventory	82.99	83.43	103.08	75.92	71.22
Receivables Turnover	6.74	6.77	7.34	14.22	20.77
Days Receivables Outstanding	54.16	53.91	49.71	25.67	17.57
Profitability
Gross Margin	19.94%	21.01%	24.73%	30.39%	40.69%
Operating Margin	4.86%	2.71%	1.97%	13.22%	14.67%
EBITDA Margin	5.61%	3.70%	3.19%	13.96%	15.06%
EBIT Margin	4.86%	2.71%	1.97%	13.22%	14.67%
Pretax Margin	4.73%	2.58%	1.38%	13.07%	14.51%
Net Profit Margin	2.95%	1.22%	0.38%	8.92%	9.58%
COGS/Revenue	80.06%	78.99%	75.27%	69.61%	59.31%
SG&A Expense/Revenue	15.77%	18.24%	21.96%	17.32%	25.16%
Management Effectiveness
Return on Assets	5.02%	2.03%	0.57%	16.10%	16.74%
Return on Equity	10.34%	4.16%	1.06%	27.82%	30.48%
Valuation
Free Cash Flow/Share2	0.01	0.05	0.01	-0.24	0.23
Operating Cash Flow/Share 2	0.01	0.06	0.06	-0.18	0.26
1-ExchangeRate: PKR to USD Period End Date	85.97	85.525	81.44	68.45	60.47
2-ExchangeRate: PKR to USD Average for Period	85.97	85.525	81.44	68.45	60.47

Current Market Multiples
Market Cap/Earnings (TTM)	1.49
Market Cap/Equity (MRQ)	1.02
Market Cap/Revenue (TTM)	1.17
Market Cap/EBIT (TTM)	63.92
Market Cap/EBITDA (TTM)	42.56
Enterprise Value/Earnings (TTM)	1.46
Enterprise Value/Equity (MRQ)	1.00
Enterprise Value/Revenue (TTM)	1.15
Enterprise Value/EBIT (TTM)	62.55
Enterprise Value/EBITDA (TTM)	41.65

Annual Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	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 30-Jun-2011	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2009	Updated Normal 30-Jun-2008	Reclassified Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	85.565587	83.860328	78.573941	62.550956	60.637036
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Gross Revenue	20.8	19.1	17.0	22.1	19.1
Sales Returns and Allowances	-1.4	-1.2	-1.0	-1.3	-1.3
Excise Tax Receipts	-3.7	-3.1	-2.8	-3.4	-2.8
Revenue	15.7	14.8	13.2	17.4	15.0
Total Revenue	15.7	14.8	13.2	17.4	15.0
Cost of Revenue	12.5	11.7	9.9	12.1	8.9
Cost of Revenue, Total	12.5	11.7	9.9	12.1	8.9
Gross Profit	3.1	3.1	3.3	5.3	6.1
Selling/General/Administrative Expense	0.7	0.7	0.8	0.9	1.4
Labor & Related Expense	0.3	0.5	0.5	0.6	0.5
Advertising Expense	1.4	1.5	1.6	1.6	1.9
Total Selling/General/Administrative Expenses	2.5	2.7	2.9	3.0	3.8
Depreciation	0.0	0.1	0.1	0.0	0.1
Amortization of Intangibles	0.0	0.0	0.0	0.0	-
Depreciation/Amortization	0.0	0.1	0.1	0.0	0.1
Investment Income - Operating	0.0	0.0	0.1	-0.1	0.2
Interest/Investment Income - Operating	0.0	0.0	0.1	-0.1	0.2
Interest Expense (Income) - Net Operating Total	0.0	0.0	0.1	-0.1	0.2
Loss (Gain) on Sale of Assets - Operating	0.0	0.0	0.0	0.0	0.0
Unusual Expense (Income)	0.0	0.0	0.0	0.0	0.0
Other Operating Expense	0.1	0.0	0.0	0.2	0.0
Other, Net	-0.2	-0.1	0.0	-0.1	-0.1
Other Operating Expenses, Total	-0.1	-0.1	0.0	0.1	-0.1
Total Operating Expense	14.9	14.4	12.9	15.1	12.8
Operating Income	0.8	0.4	0.3	2.3	2.2
Interest Expense - Non-Operating	0.0	0.0	-0.1	0.0	0.0
Interest Expense, Net Non-Operating	0.0	0.0	-0.1	0.0	0.0
Interest Income (Expense) - Net Non-Operating Total	0.0	0.0	-0.1	0.0	0.0
Other Non-Operating Income (Expense)	-	-	0.0	0.0	0.0
Other, Net	-	-	0.0	0.0	0.0
Income Before Tax	0.7	0.4	0.2	2.3	2.2
Total Income Tax	0.3	0.2	0.1	0.7	0.7
Income After Tax	0.5	0.2	0.0	1.5	1.4
Net Income Before Extraord Items	0.5	0.2	0.0	1.5	1.4
Net Income	0.5	0.2	0.0	1.5	1.4
Income Available to Common Excl Extraord Items	0.5	0.2	0.0	1.5	1.4
Income Available to Common Incl Extraord Items	0.5	0.2	0.0	1.5	1.4
Basic/Primary Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Basic EPS Excl Extraord Items	0.05	0.02	0.01	0.16	0.15
Basic/Primary EPS Incl Extraord Items	0.05	0.02	0.01	0.16	0.15
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	0.5	0.2	0.0	1.5	1.4
Diluted Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Diluted EPS Excl Extraord Items	0.05	0.02	0.01	0.16	0.15
Diluted EPS Incl Extraord Items	0.05	0.02	0.01	0.16	0.15
Dividends per Share - Common Stock Primary Issue	0.05	0.02	0.00	0.05	0.06
Gross Dividends - Common Stock	0.4	0.2	0.0	0.4	0.5
Interest Expense, Supplemental	0.0	0.0	0.1	0.0	0.0
Depreciation, Supplemental	0.1	0.1	0.2	0.1	0.1
Total Special Items	0.0	0.0	0.0	0.0	0.0
Normalized Income Before Tax	0.7	0.4	0.2	2.2	2.2
Effect of Special Items on Income Taxes	0.0	0.0	0.0	0.0	0.0
Inc Tax Ex Impact of Sp Items	0.3	0.2	0.1	0.7	0.7
Normalized Income After Tax	0.4	0.2	0.1	1.5	1.4
Normalized Inc. Avail to Com.	0.4	0.2	0.1	1.5	1.4
Basic Normalized EPS	0.05	0.02	0.01	0.16	0.15
Diluted Normalized EPS	0.05	0.02	0.01	0.16	0.15
Amort of Intangibles, Supplemental	0.0	0.0	0.0	0.0	-
Rental Expenses	0.1	0.1	0.1	0.1	0.1
Advertising Expense, Supplemental	1.4	1.5	1.6	1.6	1.9
Normalized EBIT	0.8	0.4	0.3	2.2	2.4
Normalized EBITDA	0.9	0.6	0.5	2.3	2.4
Current Tax - Domestic	0.3	0.2	0.1	0.6	0.8
Current Tax - Other	0.0	0.1	0.1	0.0	0.0
Current Tax - Total	0.3	0.2	0.1	0.6	0.8
Deferred Tax - Total	0.0	0.0	0.0	0.1	0.0
Deferred Tax - Total	0.0	0.0	0.0	0.1	0.0
Income Tax - Total	0.3	0.2	0.1	0.7	0.7
Interest Cost - Domestic	0.0	0.0	0.0	0.0	0.0
Service Cost - Domestic	0.0	0.0	0.0	0.0	0.0
Prior Service Cost - Domestic	0.0	0.0	0.0	0.0	0.0
Expected Return on Assets - Domestic	0.0	0.0	0.0	0.0	0.0
Actuarial Gains and Losses - Domestic	0.0	0.0	0.0	0.0	0.0
Other Pension, Net - Domestic	-	-	0.0	0.0	0.0
Domestic Pension Plan Expense	0.0	0.0	0.0	0.1	0.0
Total Pension Expense	0.0	0.0	0.0	0.1	0.0
Discount Rate - Domestic	14.00%	14.00%	13.00%	12.00%	10.00%
Expected Rate of Return - Domestic	11.00%	10.00%	13.00%	9.00%	3.00%
Compensation Rate - Domestic	14.00%	14.00%	12.00%	10.00%	10.00%
Total Plan Interest Cost	0.0	0.0	0.0	0.0	0.0
Total Plan Service Cost	0.0	0.0	0.0	0.0	0.0
Total Plan Expected Return	0.0	0.0	0.0	0.0	0.0
Total Plan Other Expense	-	-	0.0	0.0	0.0

Interim Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Restated Calculated 31-Dec-2011	Updated Normal 30-Jun-2011	Restated Normal 31-Mar-2012
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	90.572051	87.814194	86.759355	85.292258	85.487912
Gross Revenue	0.1	0.1	0.1	11.7	0.1
Sales Returns and Allowances	0.0	0.0	0.0	-0.7	0.0
Excise Tax Receipts	0.0	0.0	0.0	-2.2	0.0
Revenue	0.1	0.1	0.1	8.8	0.1
Total Revenue	0.1	0.1	0.1	8.8	0.1
Cost of Revenue	0.0	0.0	0.0	7.0	0.0
Cost of Revenue, Total	0.0	0.0	0.0	7.0	0.0
Gross Profit	0.0	0.0	0.0	1.8	0.0
Selling/General/Administrative Expense	0.0	0.0	0.0	1.2	0.0
Labor & Related Expense	0.4	-	-	-	0.0
Total Selling/General/Administrative Expenses	0.5	0.0	0.0	1.2	0.0
Investment Income - Operating	0.0	-	-	-	0.0
Interest/Investment Income - Operating	0.0	-	-	-	0.0
Interest Expense (Income) - Net Operating Total	0.0	-	-	-	0.0
Other, Net	0.0	-0.1	0.0	0.0	0.0
Other Operating Expenses, Total	0.0	-0.1	0.0	0.0	0.0
Total Operating Expense	0.5	0.0	0.1	8.2	0.1
Operating Income	-0.4	0.1	0.0	0.6	0.0
Interest Income (Expense) - Net Non-Operating	0.0	0.0	0.0	0.0	0.0
Interest Income (Expense) - Net Non-Operating Total	0.0	0.0	0.0	0.0	0.0
Gain (Loss) on Sale of Assets	6.7	-	-	-	0.0
Income Before Tax	6.3	0.0	0.0	0.6	0.0
Total Income Tax	-0.1	0.0	0.0	0.2	0.0
Income After Tax	6.3	0.0	0.0	0.3	0.0
Net Income Before Extraord Items	6.3	0.0	0.0	0.3	0.0
Discontinued Operations	-0.4	-0.3	0.1	-	0.1
Total Extraord Items	-0.4	-0.3	0.1	-	0.1
Net Income	6.0	-0.3	0.1	0.3	0.1
Income Available to Common Excl Extraord Items	6.3	0.0	0.0	0.3	0.0
Income Available to Common Incl Extraord Items	6.0	-0.3	0.1	0.3	0.1
Basic/Primary Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Basic EPS Excl Extraord Items	0.67	0.01	0.00	0.04	0.00
Basic/Primary EPS Incl Extraord Items	0.63	-0.03	0.01	0.04	0.01
Dilution Adjustment	-	0.0	0.0	0.0	0.0
Diluted Net Income	6.0	-0.3	0.1	0.3	0.1
Diluted Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Diluted EPS Excl Extraord Items	0.67	0.01	0.00	0.04	0.00
Diluted EPS Incl Extraord Items	0.63	-0.03	0.01	0.04	0.01
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.05	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.4	0.0
Depreciation, Supplemental	0.0	0.0	0.0	0.0	0.0
Total Special Items	-6.7	-	-	-	0.0
Normalized Income Before Tax	-0.4	0.0	0.0	0.6	0.0
Effect of Special Items on Income Taxes	-2.3	-	-	-	0.0
Inc Tax Ex Impact of Sp Items	-2.4	0.0	0.0	0.2	0.0
Normalized Income After Tax	2.0	0.0	0.0	0.3	0.0
Normalized Inc. Avail to Com.	2.0	0.0	0.0	0.3	0.0
Basic Normalized EPS	0.21	0.01	0.00	0.04	0.00
Diluted Normalized EPS	0.21	0.01	0.00	0.04	0.00
Amort of Intangibles, Supplemental	0.0	0.0	0.0	0.0	0.0
Normalized EBIT	-0.4	0.1	0.0	0.6	0.0
Normalized EBITDA	-0.4	0.1	0.0	0.6	0.0
Current Tax - Other	-	-	-	0.2	-
Current Tax - Total	-	-	-	0.2	-
Deferred Tax - Total	-	-	-	0.0	-
Deferred Tax - Total	-	-	-	0.0	-
Income Tax - Total	-	-	-	0.2	-

Annual Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	30-Jun-2011	30-Jun-2010	30-Jun-2009	30-Jun-2008	30-Jun-2007
UpdateType/Date	Updated Normal 30-Jun-2011	Updated Normal 30-Jun-2010	Restated Normal 30-Jun-2010	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate	85.97	85.525	81.44	68.45	60.47
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Cash	2.0	1.4	1.7	1.1	1.5
Short Term Investments	1.2	1.5	0.7	2.1	4.5
Cash and Short Term Investments	3.2	2.9	2.5	3.2	6.0
Accounts Receivable - Trade, Gross	1.4	1.4	1.4	1.2	0.7
Provision for Doubtful Accounts	-0.1	-0.1	-0.1	-0.1	-0.1
Trade Accounts Receivable - Net	1.4	1.3	1.4	1.1	0.6
Other Receivables	1.0	1.0	0.7	0.5	0.1
Total Receivables, Net	2.4	2.3	2.1	1.6	0.7
Inventories - Finished Goods	1.3	1.0	1.0	1.0	0.5
Inventories - Work In Progress	0.1	0.0	0.1	0.0	0.0
Inventories - Raw Materials	1.2	1.1	1.3	1.6	0.9
Inventories - Other	0.5	0.4	0.4	0.4	0.3
Total Inventory	3.2	2.5	2.8	3.1	1.7
Prepaid Expenses	0.0	0.0	0.1	0.0	0.0
Other Current Assets	0.0	0.0	0.0	0.0	0.0
Other Current Assets, Total	0.0	0.0	0.0	0.0	0.0
Total Current Assets	8.8	7.7	7.5	7.9	8.5
Buildings	0.4	0.4	0.4	0.5	0.4
Land/Improvements	0.1	0.4	0.5	0.1	0.1
Machinery/Equipment	1.4	1.5	1.5	1.8	1.7
Leases	-	-	-	-	0.0
Property/Plant/Equipment - Gross	1.8	2.3	2.4	2.3	2.1
Accumulated Depreciation	-1.2	-1.2	-1.1	-1.1	-1.2
Property/Plant/Equipment - Net	0.6	1.1	1.3	1.2	0.9
Intangibles - Gross	0.0	0.0	0.0	0.0	-
Accumulated Intangible Amortization	0.0	0.0	0.0	0.0	-
Intangibles, Net	0.0	0.0	0.0	0.0	-
Note Receivable - Long Term	0.0	0.1	0.0	0.1	0.0
Other Long Term Assets	0.0	0.0	0.0	0.0	0.1
Other Long Term Assets, Total	0.0	0.0	0.0	0.0	0.1
Total Assets	9.5	8.9	8.9	9.2	9.5
Accounts Payable	3.6	3.4	3.4	2.3	2.8
Accrued Expenses	0.6	0.5	0.4	0.6	0.7
Notes Payable/Short Term Debt	0.0	0.0	0.0	0.0	0.0
Dividends Payable	0.0	0.0	0.0	0.0	0.0
Customer Advances	-	-	-	0.0	0.0
Income Taxes Payable	-	-	-	0.0	0.1
Other Payables	0.5	0.5	0.5	0.6	0.5
Other Current Liabilities	0.1	0.0	0.0	0.0	0.0
Other Current liabilities, Total	0.6	0.6	0.6	0.6	0.7
Total Current Liabilities	4.8	4.5	4.4	3.5	4.2
Capital Lease Obligations	-	-	-	-	0.0
Total Long Term Debt	0.0	0.0	0.0	0.0	0.0
Total Debt	0.0	0.0	0.0	0.0	0.0
Deferred Income Tax - LT Liability	0.0	0.1	0.1	0.1	0.0
Deferred Income Tax	0.0	0.1	0.1	0.1	0.0
Other Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Other Liabilities, Total	0.0	0.0	0.0	0.0	0.0
Total Liabilities	4.9	4.6	4.5	3.6	4.3
Common Stock	1.1	1.1	1.2	1.1	1.1
Common Stock	1.1	1.1	1.2	1.1	1.1
Retained Earnings (Accumulated Deficit)	3.5	3.2	3.2	4.4	4.1
Unrealized Gain (Loss)	0.0	0.0	-	0.0	0.1
Total Equity	4.6	4.3	4.4	5.5	5.2
Total Liabilities & Shareholders’ Equity	9.5	8.9	8.9	9.2	9.5
Shares Outstanding - Common Stock Primary Issue	9.4	9.4	9.4	7.9	9.4
Total Common Shares Outstanding	9.4	9.4	9.4	7.9	9.4
Number of Common Shareholders	658	682	678	636	573
Accumulated Intangible Amort, Suppl.	0.0	0.0	0.0	0.0	-
Deferred Revenue - Current	-	-	-	0.0	0.0
Total Operating Leases, Supplemental	-	-	-	-	0.0
Operating Lease Payments Due in Year 1	-	-	-	-	0.0
Operating Lease Payments Due in Year 2	-	-	-	-	0.0
Operating Lease Payments Due in Year 3	-	-	-	-	0.0
Operating Lease Payments Due in Year 4	-	-	-	-	0.0
Operating Lease Payments Due in Year 5	-	-	-	-	0.0
Operating Lease Pymts. Due in 2-3 Years	-	-	-	-	0.0
Operating Lease Pymts. Due in 4-5 Years	-	-	-	-	0.0
Oper. Lse. Pymts. Due in Year 6 & Beyond	-	-	-	-	0.0
Pension Obligation - Domestic	0.1	0.2	0.2	0.2	0.1
Plan Assets - Domestic	0.2	0.2	0.1	0.1	0.1
Funded Status - Domestic	0.0	0.0	-0.1	0.0	-0.1
Total Funded Status	0.0	0.0	-0.1	0.0	-0.1
Discount Rate - Domestic	14.00%	14.00%	13.00%	12.00%	10.00%
Expected Rate of Return - Domestic	11.00%	10.00%	13.00%	9.00%	3.00%
Compensation Rate - Domestic	14.00%	14.00%	12.00%	10.00%	10.00%
Prepaid Benefits - Domestic	0.0	0.0	-	-	-
Accrued Liabilities - Domestic	-	-	-0.1	0.0	-0.1
Net Assets Recognized on Balance Sheet	0.0	0.0	-0.1	0.0	-0.1
Debt Securities % - Domestic	83.00%	-	-	-	-
Other Investments % - Domestic	17.00%	100.00%	-	-	-
Total Plan Obligations	0.1	0.2	0.2	0.2	0.1
Total Plan Assets	0.2	0.2	0.1	0.1	0.1

Interim Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate	90.716531	89.91	87.425	85.97	85.4
Cash	0.1	0.1	0.2	2.0	0.4
Short Term Investments	0.1	0.4	1.2	1.2	0.0
Cash and Short Term Investments	0.2	0.5	1.4	3.2	0.4
Accounts Receivable - Trade, Gross	0.3	0.3	-	1.4	-
Provision for Doubtful Accounts	-0.1	-0.1	-	-0.1	-
Trade Accounts Receivable - Net	0.2	0.3	0.6	1.4	1.0
Other Receivables	10.9	1.1	1.1	1.0	1.1
Total Receivables, Net	11.1	1.3	1.7	2.4	2.1
Inventories - Finished Goods	0.1	0.8	0.7	1.3	1.8
Inventories - Work In Progress	0.0	0.0	0.0	0.1	0.0
Inventories - Raw Materials	0.0	0.8	1.1	1.2	2.2
Inventories - Other	0.0	-1.6	0.5	0.5	0.4
Total Inventory	0.1	0.1	2.3	3.2	4.5
Other Current Assets	0.0	0.0	0.1	0.1	0.0
Other Current Assets, Total	0.0	0.0	0.1	0.1	0.0
Total Current Assets	11.4	2.0	5.5	8.8	7.0
Property/Plant/Equipment - Net	0.1	0.1	0.6	0.6	0.7
Intangibles, Net	0.0	0.0	0.0	0.0	0.0
Note Receivable - Long Term	0.0	0.0	0.0	0.0	0.0
Deferred Income Tax - Long Term Asset	0.0	-	-	-	-
Other Long Term Assets	0.0	2.5	0.0	0.0	0.0
Other Long Term Assets, Total	0.0	2.5	0.0	0.0	0.0
Total Assets	11.5	4.6	6.1	9.5	7.7
Accounts Payable	1.1	0.6	1.4	4.2	3.2
Accrued Expenses	0.7	0.1	0.0	0.6	0.1
Notes Payable/Short Term Debt	0.0	0.0	0.0	0.0	0.0
Dividends Payable	-	0.0	-	0.0	-
Other Current liabilities, Total	-	0.0	-	0.0	-
Total Current Liabilities	1.8	0.7	1.4	4.8	3.4
Total Long Term Debt	0.0	0.0	0.0	0.0	0.0
Total Debt	0.0	0.0	0.0	0.0	0.0
Deferred Income Tax - LT Liability	0.0	0.0	0.0	0.0	0.0
Deferred Income Tax	0.0	0.0	0.0	0.0	0.0
Other Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Other Liabilities, Total	0.0	0.0	0.0	0.0	0.0
Total Liabilities	1.8	0.8	1.4	4.9	3.5
Common Stock	1.0	1.0	1.1	1.1	1.1
Common Stock	1.0	1.0	1.1	1.1	1.1
Retained Earnings (Accumulated Deficit)	8.7	2.8	3.5	3.5	3.2
Unrealized Gain (Loss)	0.0	0.0	0.1	0.0	-
Total Equity	9.7	3.8	4.7	4.6	4.3
Total Liabilities & Shareholders’ Equity	11.5	4.6	6.1	9.5	7.7
Shares Outstanding - Common Stock Primary Issue	9.4	9.4	9.4	9.4	9.4
Total Common Shares Outstanding	9.4	9.4	9.4	9.4	9.4
Number of Common Shareholders	-	-	-	658	-

Annual Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	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 30-Jun-2011	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	85.565587	83.860328	78.573941	62.550956	60.637036
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income/Starting Line	0.7	0.4	0.2	2.3	2.2
Depreciation	0.1	0.1	0.2	0.1	0.2
Depreciation/Depletion	0.1	0.1	0.2	0.1	0.2
Amortization of Intangibles	0.0	0.0	0.0	-	-
Amortization	0.0	0.0	0.0	-	-
Unusual Items	0.0	0.0	0.0	-0.3	0.0
Other Non-Cash Items	0.1	0.1	0.2	0.2	0.1
Non-Cash Items	0.0	0.1	0.2	-0.1	0.1
Accounts Receivable	0.0	-0.1	-0.4	-0.8	-0.1
Inventories	-0.6	0.2	-0.3	-1.7	0.0
Other Assets	0.1	-0.1	-0.1	-0.1	0.1
Accounts Payable	0.3	0.3	1.2	0.0	0.1
Payable/Accrued	-	-	-	-0.1	0.6
Other Operating Cash Flow	-0.6	-0.4	-0.5	-1.2	-0.8
Changes in Working Capital	-0.8	-0.1	0.0	-3.9	0.0
Cash from Operating Activities	0.1	0.5	0.5	-1.6	2.4
Purchase of Fixed Assets	0.0	0.0	-0.5	-0.5	-0.2
Purchase/Acquisition of Intangibles	-	0.0	0.0	-	-
Capital Expenditures	0.0	0.0	-0.5	-0.5	-0.2
Sale of Fixed Assets	0.4	0.0	0.0	0.0	0.0
Sale/Maturity of Investment	0.6	0.3	1.8	4.1	0.2
Purchase of Investments	-1.8	-0.3	0.0	-2.2	-4.2
Other Investing Cash Flow	-	-	-	0.0	0.0
Other Investing Cash Flow Items, Total	-0.7	0.0	1.8	1.9	-3.9
Cash from Investing Activities	-0.8	0.0	1.4	1.4	-4.2
Other Financing Cash Flow	0.0	0.0	0.0	0.0	0.0
Financing Cash Flow Items	0.0	0.0	0.0	0.0	0.0
Cash Dividends Paid - Common	-0.2	0.0	-0.3	-0.5	-0.5
Total Cash Dividends Paid	-0.2	0.0	-0.3	-0.5	-0.5
Long Term Debt Reduction	-	-	-	0.0	0.0
Long Term Debt, Net	-	-	-	0.0	0.0
Issuance (Retirement) of Debt, Net	-	-	-	0.0	0.0
Cash from Financing Activities	-0.2	0.0	-0.3	-0.5	-0.5
Net Change in Cash	-0.8	0.5	1.6	-0.6	-2.3
Net Cash - Beginning Balance	2.9	2.4	1.0	1.9	4.2
Net Cash - Ending Balance	2.0	2.9	2.6	1.2	1.9
Cash Interest Paid	0.0	0.1	0.2	0.2	0.0
Cash Taxes Paid	0.5	0.3	0.3	0.9	0.7

Interim Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	9 Months	6 Months	3 Months	12 Months	9 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Restated Normal 31-Mar-2012
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	88.371861	87.286027	86.759355	85.565587	85.656455
Net Income/Starting Line	5.9	0.1	0.2	0.7	0.2
Depreciation	0.1	0.0	0.0	0.1	0.1
Depreciation/Depletion	0.1	0.0	0.0	0.1	0.1
Amortization of Intangibles	0.0	0.0	0.0	0.0	0.0
Amortization	0.0	0.0	0.0	0.0	0.0
Discontinued Operations	-	-0.2	-	-	-
Unusual Items	-6.9	0.0	0.0	0.0	0.0
Other Non-Cash Items	0.0	0.0	0.0	0.1	0.0
Non-Cash Items	-6.9	-0.2	0.0	0.0	0.0
Accounts Receivable	-1.7	1.1	0.7	0.0	0.3
Inventories	3.0	0.9	0.8	-0.6	-1.9
Other Assets	0.1	0.1	0.1	0.1	0.0
Accounts Payable	-2.8	-4.0	-3.4	0.3	-1.1
Other Operating Cash Flow	-0.2	-0.2	-0.2	-0.6	-0.2
Changes in Working Capital	-1.6	-2.1	-2.0	-0.8	-3.0
Cash from Operating Activities	-2.5	-2.2	-1.7	0.1	-2.7
Purchase of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Capital Expenditures	0.0	0.0	0.0	0.0	0.0
Sale of Fixed Assets	0.0	0.0	0.0	0.4	0.4
Sale/Maturity of Investment	1.1	0.8	-	0.6	0.6
Purchase of Investments	0.0	0.0	-	-1.8	-0.6
Other Investing Cash Flow	-	-	0.1	-	-
Other Investing Cash Flow Items, Total	1.2	0.8	0.1	-0.7	0.4
Cash from Investing Activities	1.1	0.8	0.0	-0.8	0.4
Other Financing Cash Flow	0.0	0.0	0.0	0.0	0.0
Financing Cash Flow Items	0.0	0.0	0.0	0.0	0.0
Cash Dividends Paid - Common	-0.4	-0.4	-	-0.2	-0.2
Total Cash Dividends Paid	-0.4	-0.4	-	-0.2	-0.2
Cash from Financing Activities	-0.4	-0.4	0.0	-0.2	-0.2
Net Change in Cash	-1.8	-1.8	-1.7	-0.8	-2.5
Net Cash - Beginning Balance	2.0	2.0	3.1	2.9	2.9
Net Cash - Ending Balance	0.2	0.1	1.4	2.0	0.4
Cash Interest Paid	0.0	0.0	0.0	0.0	0.0
Cash Taxes Paid	0.2	0.2	0.1	0.5	0.2

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 30-Jun-2011	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2009	Updated Normal 30-Jun-2008	Reclassified Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	85.565587	83.860328	78.573941	62.550956	60.637036
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Local Manufactured	20.5	18.8	16.3	21.5	18.5
Trading	0.3	0.3	0.6	0.6	0.5
Export	-	-	-	-	0.1
Sales Tax	-3.7	-3.1	-2.8	-3.4	-2.8
Trade Discount	-1.4	-1.2	-1.0	-1.3	-1.3
Total Revenue	15.7	14.8	13.2	17.4	15.0
Cost of Sales & Services	12.5	11.7	9.9	12.1	8.9
Insurance Commission	0.0	0.0	0.0	0.0	0.0
Gain on sale of investments	0.0	0.0	-0.1	-0.3	-
Gain on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Other Income	-0.2	-0.1	0.0	-0.1	-0.1
Scrap Sales	0.0	0.0	0.0	-	-
Gain on Sale of Investments	-	-	-	-	0.0
Salaries Allowances & Other Benefits	0.3	0.5	0.5	0.6	0.5
Advertisement	1.4	1.5	1.6	1.6	1.9
Depreciation	0.0	0.1	0.1	0.0	0.1
Amortisation	0.0	0.0	0.0	0.0	-
Electricity	0.0	0.0	-	-	-
Distribution & Marketing Expenses	0.6	0.6	0.6	0.8	1.3
Administrative Expenses	0.1	0.1	0.1	0.1	0.1
Loss on disposal of fixed assets	-	0.0	0.0	0.0	-
Exchange Loss, Net	0.0	0.0	0.1	0.2	0.2
Other Charges	0.1	0.0	0.0	0.2	0.0
Total Operating Expense	14.9	14.4	12.9	15.1	12.8
Interest Expenses	0.0	0.0	-0.1	0.0	0.0
Bank Charges & Commission	-	-	0.0	0.0	0.0
Net Income Before Taxes	0.7	0.4	0.2	2.3	2.2
Provision for Income Taxes	0.3	0.2	0.1	0.7	0.7
Net Income After Taxes	0.5	0.2	0.0	1.5	1.4
Net Income Before Extra. Items	0.5	0.2	0.0	1.5	1.4
Net Income	0.5	0.2	0.0	1.5	1.4
Income Available to Com Excl ExtraOrd	0.5	0.2	0.0	1.5	1.4
Income Available to Com Incl ExtraOrd	0.5	0.2	0.0	1.5	1.4
Basic Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Basic EPS Excluding ExtraOrdinary Items	0.05	0.02	0.01	0.16	0.15
Basic EPS Including ExtraOrdinary Items	0.05	0.02	0.01	0.16	0.15
Dilution Adjustment	0.0	0.0	0.0	0.0	0.0
Diluted Net Income	0.5	0.2	0.0	1.5	1.4
Diluted Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Diluted EPS Excluding ExtraOrd Items	0.05	0.02	0.01	0.16	0.15
Diluted EPS Including ExtraOrd Items	0.05	0.02	0.01	0.16	0.15
DPS-Common Stock	0.05	0.02	0.00	0.05	0.06
Gross Dividends - Common Stock	0.4	0.2	0.0	0.4	0.5
Normalized Income Before Taxes	0.7	0.4	0.2	2.2	2.2
Inc Tax Ex Impact of Sp Items	0.3	0.2	0.1	0.7	0.7
Normalized Income After Taxes	0.4	0.2	0.1	1.5	1.4
Normalized Inc. Avail to Com.	0.4	0.2	0.1	1.5	1.4
Basic Normalized EPS	0.05	0.02	0.01	0.16	0.15
Diluted Normalized EPS	0.05	0.02	0.01	0.16	0.15
Advertisement Expenses	1.4	1.5	1.6	1.6	1.9
Depreciation Expesnes	0.1	0.1	0.2	0.1	0.1
Amortisation	0.0	0.0	0.0	0.0	-
Rental Expenses	0.1	0.1	0.1	0.1	0.1
Financial Charges	0.0	0.0	0.1	0.0	0.0
Current Tax	0.3	0.2	0.1	0.6	0.8
Prior Year Tax	0.0	0.1	0.1	0.0	0.0
Current Tax - Total	0.3	0.2	0.1	0.6	0.8
Deferred Tax	0.0	0.0	0.0	0.1	0.0
Deferred Tax - Total	0.0	0.0	0.0	0.1	0.0
Income Tax - Total	0.3	0.2	0.1	0.7	0.7
Service Cost - Gratuity	0.0	0.0	0.0	0.0	0.0
Interest Cost - Gratuity	0.0	0.0	0.0	0.0	0.0
Expected Return on Assets - Gratuity	0.0	0.0	0.0	0.0	0.0
Amort. of Prior Service Cost - Gratuity	0.0	0.0	0.0	0.0	0.0
Impact of Transfered Employee - Gratuity	-	-	0.0	0.0	0.0
Actuarial Gain/Loss - Gratuity	0.0	0.0	0.0	0.0	0.0
Domestic Pension Plan Expense	0.0	0.0	0.0	0.1	0.0
Total Pension Expense	0.0	0.0	0.0	0.1	0.0
Discount Rate - Gratuity	14.00%	14.00%	13.00%	12.00%	10.00%
Compensation Rate - Gratuity	14.00%	14.00%	12.00%	10.00%	10.00%
Expected Rate of Return - Gratuity	11.00%	10.00%	13.00%	9.00%	3.00%

Interim Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Restated Calculated 31-Dec-2011	Updated Normal 30-Jun-2011	Restated Normal 31-Mar-2012
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	90.572051	87.814194	86.759355	85.292258	85.487912
Sales	0.1	0.1	0.1	11.7	0.1
Sales Tax	0.0	0.0	0.0	-2.2	0.0
Trade Discount	0.0	0.0	0.0	-0.7	0.0
Total Revenue	0.1	0.1	0.1	8.8	0.1
Cost of Sales & Services	0.0	0.0	0.0	7.0	0.0
Distribution & Marketing Expenses	0.0	0.0	0.0	1.2	0.0
Administrative Expenses	-	-	-	0.1	-
Worker's profit participation fund	0.4	-	-	-	0.0
Exchange (gain)/ loss	0.0	-	-	-	0.0
Other Expense/Income	-	0.0	0.0	0.1	-
Insurance commission & management fee fr	0.0	0.0	0.0	0.0	0.0
Investment income	0.0	-	-	-	0.0
Total Operating Expense	0.5	0.0	0.1	8.2	0.1
Financial Charges	0.0	0.0	0.0	0.0	0.0
Gain On Disposal of Discontinued operati	6.7	-	-	-	0.0
Net Income Before Taxes	6.3	0.0	0.0	0.6	0.0
Provision for Income Taxes	-0.1	0.0	0.0	0.2	0.0
Net Income After Taxes	6.3	0.0	0.0	0.3	0.0
Net Income Before Extra. Items	6.3	0.0	0.0	0.3	0.0
Discountinuing Operation	-0.4	-0.3	0.1	-	0.1
Net Income	6.0	-0.3	0.1	0.3	0.1
Income Available to Com Excl ExtraOrd	6.3	0.0	0.0	0.3	0.0
Income Available to Com Incl ExtraOrd	6.0	-0.3	0.1	0.3	0.1
Basic Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Basic EPS Excluding ExtraOrdinary Items	0.67	0.01	0.00	0.04	0.00
Basic EPS Including ExtraOrdinary Items	0.63	-0.03	0.01	0.04	0.01
Dilution Adjustment	-	0.0	0.0	0.0	0.0
Diluted Net Income	6.0	-0.3	0.1	0.3	0.1
Diluted Weighted Average Shares	9.4	9.4	9.4	9.4	9.4
Diluted EPS Excluding ExtraOrd Items	0.67	0.01	0.00	0.04	0.00
Diluted EPS Including ExtraOrd Items	0.63	-0.03	0.01	0.04	0.01
DPS-Common Stock	0.00	0.00	0.00	0.05	0.00
Gross Dividends - Common Stock	0.0	0.0	0.0	0.4	0.0
Normalized Income Before Taxes	-0.4	0.0	0.0	0.6	0.0
Inc Tax Ex Impact of Sp Items	-2.4	0.0	0.0	0.2	0.0
Normalized Income After Taxes	2.0	0.0	0.0	0.3	0.0
Normalized Inc. Avail to Com.	2.0	0.0	0.0	0.3	0.0
Basic Normalized EPS	0.21	0.01	0.00	0.04	0.00
Diluted Normalized EPS	0.21	0.01	0.00	0.04	0.00
Depreciation Expesnes	0.0	0.0	0.0	0.0	0.0
Amortization	0.0	0.0	0.0	0.0	0.0
Current Tax	-	-	-	0.2	-
Prior Year Tax	-	-	-	0.0	-
Current Tax - Total	-	-	-	0.2	-
Deferred Tax	-	-	-	0.0	-
Deferred Tax - Total	-	-	-	0.0	-
Income Tax - Total	-	-	-	0.2	-

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 30-Jun-2011	Updated Normal 30-Jun-2010	Restated Normal 30-Jun-2010	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate	85.97	85.525	81.44	68.45	60.47
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Stores	0.0	0.0	0.0	0.0	0.0
Raw Material	1.2	1.1	1.3	1.6	0.9
Packing Material	0.5	0.4	0.4	0.4	0.3
Work-in-Process	0.1	0.0	0.1	0.0	0.0
Finished Goods	1.2	0.8	0.8	0.6	0.5
Trading Goods	0.1	0.2	0.3	0.4	0.0
Considered Goods	1.4	1.3	1.4	1.1	0.6
Considered Doubtful	0.1	0.1	0.1	0.1	0.1
Provision for Doubtful Debts	-0.1	-0.1	-0.1	-0.1	-0.1
Loans & Advances	0.0	0.2	0.1	0.2	0.1
Advances to Suppliers and Employees	0.1	0.0	0.0	-	-
Security Deposit	0.0	0.0	0.0	0.0	0.0
Deposits	0.0	0.0	0.0	0.0	0.0
Prepayments	0.0	0.0	0.1	0.0	0.0
Due Refunds From Govt.	0.2	0.2	0.3	-	-
Other Receivables	0.1	0.2	0.1	0.2	0.0
Taxation-net	0.5	0.3	0.3	0.1	0.0
Short Term Investment	1.2	1.5	0.7	2.1	4.5
Cash & Bank Balance	2.0	1.4	1.7	1.1	1.5
Total Current Assets	8.8	7.7	7.5	7.9	8.5
Freehold Land	0.0	0.0	0.0	0.0	0.0
Leasehold Land	0.1	0.4	0.4	0.1	0.1
Building on Leasehold Land	0.4	0.4	0.4	0.5	0.3
Office Premises	0.0	0.0	0.0	0.0	0.0
Plant & Machinery	0.9	0.9	1.0	1.1	1.1
Furniture & Fixtures	0.1	0.1	0.1	0.1	0.1
Office & Other Equipment	0.0	0.0	0.0	0.0	0.0
Tools & Equipments	0.0	0.0	0.0	0.0	0.0
Vehicles	0.2	0.3	0.3	0.4	0.4
Computers & Data Processing	0.1	0.1	0.1	0.1	0.1
Leased Plant & Machinery	-	-	-	-	0.0
Accumulated Depreciation	-1.2	-1.2	-1.1	-1.1	-1.2
Computer software	0.0	0.0	0.0	0.0	-
Accumulated amortization	0.0	0.0	0.0	0.0	-
Long Term Loans	0.0	0.1	0.0	0.1	0.0
Long Term Security Deposits	0.0	0.0	0.0	0.0	0.0
Adjustments	-	-	-	-	0.1
Total Assets	9.5	8.9	8.9	9.2	9.5
Due to Related Parties	0.1	0.0	0.1	0.1	0.0
Trade Creditors	2.2	2.0	1.3	1.1	1.4
Bills Payable	1.3	1.4	2.0	1.1	1.4
Royalty Payable	0.5	0.5	0.4	0.5	0.5
Accrued Expenses	0.3	0.3	0.3	0.4	0.5
Amount Due to Distributors	0.1	0.0	0.1	0.1	0.0
Advance against Export	-	-	-	0.0	0.0
Mark-up Accrued on Running Finance	0.0	0.0	0.0	0.0	0.0
Workers Profit Participation Fund	0.0	0.0	0.0	0.0	-
Workers Welfare Fund	0.0	0.0	0.0	0.0	0.0
Sales Tax Payable	0.3	0.2	0.1	0.2	0.2
Payable to Gratuity Fund	0.0	0.0	0.0	0.0	-
Employees' Provident Fund Trust	-	0.0	0.0	0.0	-
Retention Money	0.0	0.0	0.0	-	-
Unclaimed Dividends	0.0	0.0	0.0	0.0	0.0
Other Payables	0.0	0.0	0.0	0.0	0.0
Provision for Taxation	-	-	-	0.0	0.1
Total Current Liabilities	4.8	4.5	4.4	3.5	4.2
Liabilities against Finance Leases	-	-	-	-	0.0
Total Long Term Debt	-	-	-	-	0.0
Long Term Deposits	0.0	0.0	0.0	0.0	0.0
Deferred Liability	0.0	0.1	0.1	0.1	0.0
Total Liabilities	4.9	4.6	4.5	3.6	4.3
Common Stock	1.1	1.1	1.2	1.1	1.1
Surplus on Revaluation of Investments	-	-	-	0.0	0.1
General Reserve	3.0	3.0	3.1	3.0	2.6
Unappropriated Profit	0.5	0.2	0.0	1.4	1.4
Unrealised Gain on Revaluation of Availa	0.0	0.0	-	-	-
Total Equity	4.6	4.3	4.4	5.5	5.2
Total Liabilities & Shareholders' Equity	9.5	8.9	8.9	9.2	9.5
S/O-Common Stock	9.4	9.4	9.4	7.9	9.4
Total Common Shares Outstanding	9.4	9.4	9.4	7.9	9.4
Deferred Revenue	-	-	-	0.0	0.0
Accumulated Amortization	0.0	0.0	0.0	0.0	-
Number of Shareholders	658	682	678	636	573
Operating Lease within 1 Year	-	-	-	-	0.0
Operating Lease within 5 Years	-	-	-	-	0.0
Total Operating Leases, Supplemental	-	-	-	-	0.0
Projected Benefit Obligation - Gratuity	0.1	0.2	0.2	0.2	0.1
FV of Plan Assets - Gratuity	0.2	0.2	0.1	0.1	0.1
Funded Status - Gratuity	0.0	0.0	-0.1	0.0	-0.1
Total Funded Status	0.0	0.0	-0.1	0.0	-0.1
Discount Rate - Gratuity	14.00%	14.00%	13.00%	12.00%	10.00%
Compensation Rate - Gratuity	14.00%	14.00%	12.00%	10.00%	10.00%
Expected Rate of Return - Gratuity	11.00%	10.00%	13.00%	9.00%	3.00%
Prepaid Benefits - Domestic	0.0	0.0	-	-	-
Accrued Liabilities - Domestic	-	-	-0.1	0.0	-0.1
Net Assets Recognized on Balance Sheet	0.0	0.0	-0.1	0.0	-0.1
Treasury Bills	83.00%	-	-	-	-
Cash	17.00%	100.00%	-	-	-

Interim Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate	90.716531	89.91	87.425	85.97	85.4
Stores	0.0	0.0	0.0	0.0	0.0
Raw Materials	0.0	0.8	1.1	1.2	2.1
Packing Material	0.0	0.4	0.5	0.5	0.4
Work in Process	0.0	0.0	0.0	0.1	0.0
Finished Goods	0.0	0.7	0.6	1.2	1.7
Trading Goods	0.1	0.1	0.1	0.1	0.1
Stock InTrade Classi. Held for Sale	-	-2.0	-	0.0	-
Trade Debts	-	-	0.6	-	1.0
Trade Debts	0.3	0.3	-	1.4	-
Provision for Doubtful Accounts	-0.1	-0.1	-	-0.1	-
Loans & Advances	0.0	0.1	0.1	0.1	0.3
Trade Deposits & Short Term Prepayments	0.0	0.0	0.1	0.1	0.0
Other Receivables	10.0	0.1	0.1	0.1	0.1
Short Term Investment	0.1	0.4	1.2	1.2	0.0
Refund from Government	0.2	0.2	0.2	0.2	0.2
Income Tax Net	0.6	0.7	0.6	0.5	0.5
Sales Tax Refundable	-	0.0	0.0	0.0	-
Cash & Bank Balance	0.1	0.1	0.2	2.0	0.4
Total Current Assets	11.4	2.0	5.5	8.8	7.0
Property, Plant & Machinery Net	0.1	0.1	0.6	0.6	0.7
Intangible Assets	0.0	0.0	0.0	0.0	0.0
Long Term Loans	0.0	0.0	0.0	0.0	0.0
Long Term Security Deposits	0.0	0.0	0.0	0.0	0.0
Assets Classified as Held for Sale	-	2.5	-	0.0	-
Deferred taxation	0.0	-	-	-	-
Total Assets	11.5	4.6	6.1	9.5	7.7
Trade Creditors	1.1	0.6	1.4	4.2	3.2
Accrued Payable	0.0	0.1	-	0.3	-
Unclaimed Dividend	-	0.0	-	0.0	-
Mark-up Accrued	0.0	0.0	0.0	0.0	0.0
Sales Tax Payable	0.7	0.0	0.0	0.3	0.1
Total Current Liabilities	1.8	0.7	1.4	4.8	3.4
Long Term Deposits	0.0	0.0	0.0	0.0	0.0
Deferred Tax	0.0	0.0	0.0	0.0	0.0
Total Liabilities	1.8	0.8	1.4	4.9	3.5
Common Stock	1.0	1.0	1.1	1.1	1.1
General Reserve	2.9	2.9	3.0	3.0	-
Unrealised Gain on Investments	0.0	0.0	0.1	0.0	-
Unappropriated Profit	5.8	-0.2	0.6	0.5	-
Reserves	-	-	-	-	3.2
Total Equity	9.7	3.8	4.7	4.6	4.3
Total Liabilities & Shareholders' Equity	11.5	4.6	6.1	9.5	7.7
S/O-Common Stock	9.4	9.4	9.4	9.4	9.4
Total Common Shares Outstanding	9.4	9.4	9.4	9.4	9.4
Number of Common Shareholders	-	-	-	658	-

Annual Cash Flows

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 30-Jun-2011	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2010	Updated Normal 30-Jun-2008	Restated Normal 30-Jun-2008
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	85.565587	83.860328	78.573941	62.550956	60.637036
Auditor	Ernst & Young Ford Rhodes Sidat Hyder	Ernst & Young LLP	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.	Ford Rhodes Sidat Hyder & Co.
Auditor Opinion	Unqualified	Unqualified	Unqualified	Unqualified	Unqualified
Net Income Before Tax	0.7	0.4	0.2	2.3	2.2
Depreciation	0.1	0.1	0.2	0.1	0.2
Amortisation	0.0	0.0	0.0	-	-
Provision for Gratutiy	0.0	0.0	0.0	-	-
Financial Charges	0.1	0.1	0.2	0.2	0.0
Plant and Machinery Write off	0.0	0.0	-	-	-
Gain on Disposal of Investment	0.0	0.0	-0.1	-0.3	0.0
Gain on Disposal of Fixed Assets	0.0	0.0	0.0	0.0	0.0
Provision for Doubtful Debts	0.0	0.0	0.0	0.0	0.0
Stores	0.0	0.0	0.0	0.0	0.0
Stock in Trade	-0.6	0.2	-0.3	-1.7	0.0
Trade Debts	-0.1	0.0	-0.4	-0.7	0.0
Loans & Advances	0.1	-0.1	0.0	-0.1	0.1
Deposits, Prepayments & Other Receivable	0.0	0.1	-0.1	0.0	0.0
Other Receivables	0.0	-0.1	0.1	-0.1	0.0
Creditors, Accrued & Other Liabilities	-	-	-	-0.1	0.6
Duty refunds Due From Govt	-	0.0	-0.3	-	-
Trade and Other Payables	0.2	0.2	1.5	-	-
Sales Tax Payables	0.1	0.1	0.0	0.0	0.1
Financial Charges Paid	0.0	-0.1	-0.2	-0.2	0.0
Gratuity Paid	0.0	-0.1	0.0	-	-
Taxes Paid	-0.5	-0.3	-0.3	-0.9	-0.7
Long Term Loans	0.0	0.0	0.0	-0.1	0.0
Cash from Operating Activities	0.1	0.5	0.5	-1.6	2.4
Capital Expenditures	0.0	0.0	-0.5	-0.5	-0.2
Addition to Intangible assets	-	0.0	0.0	-	-
Payments in Relation to Cap. work-in-Pro	-	-	-	0.0	-0.1
Proceeds from Disposal of Property	0.4	0.0	0.0	0.0	0.0
Proceeds from Investment	0.6	0.3	1.8	4.1	0.2
Purchases of Investment	-1.8	-0.3	0.0	-2.2	-4.2
Long Term Deposits	-	-	-	0.0	0.0
Cash from Investing Activities	-0.8	0.0	1.4	1.4	-4.2
Repayment of Liabilities Against Finance	-	-	-	0.0	0.0
Long Term Deposits	0.0	0.0	0.0	0.0	0.0
Dividend Paid	-0.2	0.0	-0.3	-0.5	-0.5
Cash from Financing Activities	-0.2	0.0	-0.3	-0.5	-0.5
Net Change in Cash	-0.8	0.5	1.6	-0.6	-2.3
Cash Balance at Beginning	2.9	2.4	1.0	1.9	4.2
Cash Balance at Ending	2.0	2.9	2.6	1.2	1.9
Cash Interest Paid	0.0	0.1	0.2	0.2	0.0
Cash Taxes Paid	0.5	0.3	0.3	0.9	0.7

Interim Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	9 Months	6 Months	3 Months	12 Months	9 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Restated Normal 31-Mar-2012
Filed Currency	PKR	PKR	PKR	PKR	PKR
Exchange Rate (Period Average)	88.371861	87.286027	86.759355	85.565587	85.656455
Net Income Before Tax	5.9	0.1	0.2	0.7	0.2
Depreciation	0.1	0.0	0.0	0.1	0.1
Loss BeforeDiscontinued Operation	-	-0.2	-	-	-
Amortization	0.0	0.0	0.0	0.0	0.0
Gain on Disposal of Fixed Assets	-1.1	0.0	0.0	0.0	0.0
Gain on Disposal of Investment	-0.1	0.0	-	0.0	0.0
Sale of Intangibles	-5.7	-	-	-	0.0
Plant and Machinery Write off	0.0	0.0	-	0.0	0.0
Provision for Doubtful debts	0.0	0.0	0.0	0.0	0.0
Provision for gratuity	0.0	0.0	0.0	0.0	0.0
Financial Charges	0.0	0.0	0.0	0.1	0.0
Plant and machinery charged to expenses	0.0	-	-	-	-
Interest accrued on short term investmen	-	-	0.0	-	-
Stores	0.0	0.0	0.0	0.0	0.0
Stock in Trade	3.0	0.9	0.8	-0.6	-1.9
Trade Debts	1.1	1.1	0.7	-0.1	0.3
Loans & Advances	0.1	0.0	0.0	0.1	0.0
Deposits, Prepayments & Other Receivable	0.0	0.0	0.0	0.0	0.0
Other Receivables	-2.8	0.0	0.0	0.0	0.1
Trade and Other Payables	-3.2	-3.7	-3.1	0.2	-1.1
Sales Tax Payables	0.4	-0.3	-0.3	0.1	-0.1
Financial Charges Paid	0.0	0.0	0.0	0.0	0.0
Gratuity paid	-	-	-	0.0	-
Taxes Paid	-0.2	-0.2	-0.1	-0.5	-0.2
Long Term Loans	0.0	0.0	0.0	0.0	0.0
Cash from Operating Activities	-2.5	-2.2	-1.7	0.1	-2.7
Capital Expenditures	0.0	0.0	0.0	0.0	0.0
Proceeds from Disposal of Property	0.0	0.0	0.0	0.4	0.4
Surplus on Revaluation of Reserve	-	-	0.1	-	-
Purchase of Investment	0.0	0.0	-	-1.8	-0.6
Proceeds from Sale of Investment	1.1	0.8	-	0.6	0.6
Cash from Investing Activities	1.1	0.8	0.0	-0.8	0.4
Long Term Deposits	0.0	0.0	0.0	0.0	0.0
Payment of Long Term Deposits	0.0	0.0	-	-	0.0
Dividend Paid	-0.4	-0.4	-	-0.2	-0.2
Cash from Financing Activities	-0.4	-0.4	0.0	-0.2	-0.2
Net Change in Cash	-1.8	-1.8	-1.7	-0.8	-2.5
Cash Balance at Beginning	2.0	2.0	3.1	2.9	2.9
Cash Balance at Ending	0.2	0.1	1.4	2.0	0.4
Cash Interest Paid	0.0	0.0	0.0	0.0	0.0
Cash Taxes Paid	0.2	0.2	0.1	0.5	0.2

 Business Segments

Financials in: As Reported (mil)

Annual

External Revenue   USD (mil)
	30-Jun-11		30-Jun-10		30-Jun-09
Food	15.4	98.4 %	14.5	97.9 %	12.8	97.4 %
Consumer Durables	0.2	1.6 %	0.3	2.1 %	0.3	2.6 %
Segment Total	15.7	100 %	14.8	100 %	13.2	100 %
Consolidated Total	15.7	100 %	14.8	100 %	13.2	100 %
Exchange Rate: PKR to USD	85.565587		83.860328		78.573941
Total Revenue   USD (mil)
	30-Jun-11		30-Jun-10		30-Jun-09
Food	15.4	98.4 %	14.5	97.9 %	12.8	97.4 %
Consumer Durables	0.2	1.6 %	0.3	2.1 %	0.3	2.6 %
Segment Total	15.7	100 %	14.8	100 %	13.2	100 %
Consolidated Total	15.7	100 %	14.8	100 %	13.2	100 %
Exchange Rate: PKR to USD	85.565587		83.860328		78.573941

Gross Profit   USD (mil)
	30-Jun-11				30-Jun-10		30-Jun-09
Food	3.0		97.1 %		3.0	96.9 %	3.1	96.1 %
Consumer Durables	0.1		2.9 %		0.1	3.1 %	0.1	3.9 %
Segment Total	3.1		100 %		3.1	100 %	3.3	100 %
Consolidated Total	3.1		100 %		3.1	100 %	3.3	100 %
Exchange Rate: PKR to USD	85.565587				83.860328		78.573941
Gross Margin (%)
		30-Jun-11			30-Jun-10		30-Jun-09
Food		19.8		-	20.9	-	24.4	-
Consumer Durables		36.9		-	31.4	-	36.7	-
Segment Total		20.0		-	21.1	-	24.7	-
Consolidated Total		20.0		-	21.1	-	24.7	-

Depreciation   USD (mil)
	30-Jun-11		30-Jun-10		30-Jun-09
Food	0.1	95.2 %	0.1	94.9 %	0.2	93.9 %
Consumer Durables	0.0	4.8 %	0.0	5.1 %	0.0	6.1 %
Segment Total	0.1	100 %	0.1	100 %	0.2	100 %
Consolidated Total	0.1	100 %	0.1	100 %	0.2	100 %
Exchange Rate: PKR to USD	85.565587		83.860328		78.573941
Operating Income/Loss   USD (mil)
	30-Jun-11		30-Jun-10		30-Jun-09
Food	0.6	102.9 %	0.4	109.4 %	0.4	127.5 %
Consumer Durables	0.0	-2.9 %	0.0	-9.4 %	-0.1	-27.5 %
Segment Total	0.6	100 %	0.4	100 %	0.3	100 %
Consolidated Total	0.6	100 %	0.4	100 %	0.3	100 %
Exchange Rate: PKR to USD	85.565587		83.860328		78.573941

Operating Margin (%)
	30-Jun-11		30-Jun-10				30-Jun-09
Food	4.1	-	2.7		-		3.1		-
Consumer Durables	-7.4	-	-10.7		-		-24.4		-
Segment Total	4.0	-	2.4		-		2.3		-
Consolidated Total	4.0	-	2.4		-		2.3		-
Income After Tax   USD (mil)
	30-Jun-11		30-Jun-10			30-Jun-09
Food	0.6	102.9 %	0.4	109.4 %		0.4		127.5 %
Consumer Durables	0.0	-2.9 %	0.0	-9.4 %		-0.1		-27.5 %
Segment Total	0.6	100 %	0.4	100 %		0.3		100 %
Unallocated	-0.2	-25.3 %	-0.2	-49.1 %		-0.3		-83.9 %
Consolidated Total	0.5	74.7 %	0.2	50.9 %		0.0		16.1 %
Exchange Rate: PKR to USD	85.565587		83.860328			78.573941

Net Profit Margin (%)
	30-Jun-11		30-Jun-10				30-Jun-09
Food	4.1	-	2.7		-		3.1		-
Consumer Durables	-7.4	-	-10.7		-		-24.4		-
Segment Total	4.0	-	2.4		-		2.3		-
Consolidated Total	3.0	-	1.2		-		0.4		-
Total Assets   USD (mil)
	30-Jun-11		30-Jun-10			30-Jun-09
Food	8.7	97.3 %	8.3	96.2 %		8.1		93.8 %
Consumer Durables	0.2	2.7 %	0.3	3.8 %		0.5		6.2 %
Segment Total	8.9	100 %	8.6	100 %		8.6		100 %
Unallocated	0.5	6.1 %	0.3	3.7 %		0.3		3.3 %
Consolidated Total	9.5	106.1 %	8.9	103.7 %		8.9		103.3 %
Exchange Rate: PKR to USD	85.970000		85.525000			81.440000

Operating Return on Assets (%)
	30-Jun-11		30-Jun-10				30-Jun-09
Food	7.3	-	4.6		-		4.7		-
Consumer Durables	-7.6	-	-10.1		-		-15.2		-
Segment Total	6.9	-	4.0		-		3.4		-
Consolidated Total	6.5	-	3.9		-		3.3		-
Total Liabilities   USD (mil)
	30-Jun-11		30-Jun-10			30-Jun-09
Food	4.8	99.6 %	4.5	99.9 %		4.4		98.5 %
Consumer Durables	0.0	0.4 %	0.0	0.1 %		0.1		1.5 %
Segment Total	4.8	100 %	4.5	100 %		4.5		100 %
Unallocated	0.0	0.8 %	0.1	1.1 %		0.1		1.6 %
Consolidated Total	4.9	100.8 %	4.6	101.1 %		4.5		101.6 %
Exchange Rate: PKR to USD	85.970000		85.525000			81.440000

Purchase of Fixed Assets   USD (mil)
	30-Jun-11		30-Jun-10		30-Jun-09
Food	0.0	96.4 %	0.0	100 %	0.5	95.6 %
Consumer Durables	0.0	3.6 %	0.0	0 %	0.0	4.4 %
Segment Total	0.0	100 %	0.0	100 %	0.5	100 %
Consolidated Total	0.0	100 %	0.0	100 %	0.5	100 %
Exchange Rate: PKR to USD	85.565587		83.860328		78.573941

Business Segments

Financials in: As Reported (mil)

Interim

External Revenue   USD (mil)
	31-Mar-12		31-Dec-11		30-Sep-11		30-Jun-11		31-Mar-11
Foods	-	-	-	-	5.0	98.3 %	6.6	99.9 %	3.1	2,793.3 %
Consumable Products	0.1	100 %	0.1	100 %	0.1	1.7 %	0.0	0.1 %	0.1	100 %
Segment Total	0.1	100 %	0.1	100 %	5.0	100 %	6.6	100 %	0.1	100 %
Consolidated Total	0.1	100 %	0.1	100 %	5.0	100 %	6.6	100 %	0.1	100 %
Exchange Rate: PKR to USD	90.572051		87.286027		86.759355		85.292258		85.487912
Total Revenue   USD (mil)
	31-Mar-12		31-Dec-11		30-Sep-11		30-Jun-11		31-Mar-11
Foods	-	-	-	-	5.0	98.3 %	6.6	99.9 %	3.1	2,793.3 %
Consumable Products	0.1	100 %	0.1	100 %	0.1	1.7 %	0.0	0.1 %	0.1	100 %
Segment Total	0.1	100 %	0.1	100 %	5.0	100 %	6.6	100 %	0.1	100 %
Consolidated Total	0.1	100 %	0.1	100 %	5.0	100 %	6.6	100 %	0.1	100 %
Exchange Rate: PKR to USD	90.572051		87.286027		86.759355		85.292258		85.487912

Depreciation   USD (mil)
				30-Sep-11
Foods				0.0			94.9 %
Consumable Products				0.0			5.1 %
Segment Total				0.0			100 %
Consolidated Total				0.0			100 %
Exchange Rate: PKR to USD				86.759355
Income After Tax   USD (mil)
	30-Sep-11		30-Jun-11			31-Mar-11
Foods	0.2	168.8 %	0.6		175.6 %	0.0		15.4 %
Consumable Products	0.0	0 %	0.0		-2.6 %	0.0		-9 %
Unallocated	-0.1	-68.8 %	-0.3		-73 %	0.0		93.6 %
Segment Total	0.1	100 %	0.3		100 %	-0.1		100 %
Consolidated Total	0.1	100 %	0.3		100 %	-0.1		100 %
Exchange Rate: PKR to USD	86.759355		85.292258			85.487912

Net Profit Margin (%)
				30-Sep-11				30-Jun-11			31-Mar-11
Foods				3.5		-		9.3		-	-0.3		-
Consumable Products				0.0		-		-111.0		-	5.4		-
Segment Total				2.0		-		5.3		-	-1.6		-
Consolidated Total				2.0		-		5.3		-	-1.6		-
Total Assets   USD (mil)
	31-Mar-12		31-Dec-11		30-Sep-11				30-Jun-11		31-Mar-11
Foods	-	-	-	-	5.2		85.6 %		8.7	91.7 %	5.8	96.2 %
Consumable Products	0.2	100 %	0.2	100 %	0.2		3.7 %		0.2	2.5 %	0.2	3.8 %
Unallocated	-	-	-	-	0.6		10.6 %		0.5	5.7 %	-	-
Segment Total	0.2	100 %	0.2	100 %	6.1		100 %		9.5	100 %	6.1	100 %
Consolidated Total	0.2	100 %	0.2	100 %	6.1		100 %		9.5	100 %	6.1	100 %
Exchange Rate: PKR to USD	90.716531		89.910000		87.425000				85.970000		85.400000

Total Liabilities   USD (mil)
	30-Sep-11
Foods	1.4	96.9 %
Consumable Products	0.0	0.5 %
Unallocated	0.0	2.6 %
Segment Total	1.4	100 %
Consolidated Total	1.4	100 %
Exchange Rate: PKR to USD	87.425000
Purchase of Fixed Assets   USD (mil)
	30-Sep-11
Foods	0.0	100 %
Consumable Products	0.0	0 %
Segment Total	0.0	100 %
Consolidated Total	0.0	100 %
Exchange Rate: PKR to USD	86.759355

Bottom of Form

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.92
UK Pound	1	Rs.88.91
Euro	1	Rs.71.25

INFORMATION DETAILS

Report Prepared by :

PRL

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.