Financial Information

Financial Highlights

Amount in PKR. millions
Profit & Loss 2019 2018 2017 2016 2015 2014
Sales 57,288 45,626 40,066 32,275 33,355 33,013
Gross profit 11,982 9,576 7,207 7,306 6,094 5,976
Operating profit 5,482 3,315 1,686 2,245 2,118 2,659
Earnings before interest and tax 5,482 3,315 1,686 2,245 2,118 2,659
Profit / (loss) before tax 4,008 2,328 809 1,335 783 1,496
Profit / (loss) after tax 3,609 2,075 818 1,141 605 1,235
Cash dividend 891 891 356 555 343 81
Bonus shares              –              – 457
Balance Sheet
Property, plant and equipment 18,994 16,104 15,969 12,050 9,039 8,210
Intangible 45 24 34 13 11 20
Long term investment, loans,
advances and deposits 492 299 291 236 165 151
Net current assets 4,843 3,211 2,088 1,394 756 890
Total assets employed 24,374 19,638 18,382 13,693 9,971 9,271
Represented by:
Share capital 3,565 3,565 3,565 2,971 2,285 1,828
Reserves 11,768 9,056 7,349 5,746 4,884 4,832
Shareholders’ equity 15,333 12,621 10,914 8,717 7,169 6,660
Long term loans 8,857 6,912 7,146 4,630 2,408 2,239
Deferred liabilities 158 87 322 345 394 372
Total capital employed 24,348 19,620 18,382 13,692 9,971 9,271
Cash Flow Statement
Operating activities 160 (1,083) 2,071 (2,085) 670 2,090
Investing activities (4,899) (1,956) (5,275) (4,159) (1,783) (1,833)
Financing activities 875 100 4,097 2,407 108 217
Cash and cash equivalents at
the end of the year (18,470) (14,606) (11,665) (12,559) (8,721) (7,715)
Financial Ratios      2019       2018       2017      2016       2015        2014
Profitability ratios
Gross profit ratio 20.92 20.99 17.99 22.64 18.27 18.10
Operating leverage ratio 0.08 0.08 (1.03) (1.86) (19.65) 2.77
EBITDA margin to sales 12.99 11.37 8.16 10.44 9.28 10.66
Net profit to sales 6.30 4.55 2.04 3.54 1.81 3.74
Return on equity 25.82 17.63 8.34 14.37 8.75 20.43
Return on capital emplyed 24.94 17.45 10.52 18.97 22.01 30.91
Liquidity ratios
Current ratio 1.16 1.14 1.11 1.08 1.05 1.06
Quick / acid test ratio 0.39 0.40 0.37 0.26 0.20 0.20
Cash to current liabilities 0.02 0.02 0.01 0.02 0.01 0.01
Cash flow from operations to sales 0.00 (0.02) 0.05 (0.06) 0.02 0.06
Capital structure ratios
Financial leverage ratio 1.89 1.85 1.81 2.06 1.67 1.62
Weighted average cost of debt 0.05 0.04 0.04 0.04 0.11 0.09
Debt to equity ratio 0.58 0.55 0.65 0.53 0.34 0.34
Interest cover ratio 3.72 3.36 1.92 2.47 1.59 2.29
Turnover ratios
Inventory turnover 151 145 146 184 155 145
Inventory turnover ratio 2.42 2.52 2.50 1.99 2.35 2.52
Debtor turnover 40 35 26 24 18 22
Debtor turnover ratio 9.19 10.44 14.04 15.09 20.33 16.76
Creditors turnover 149 148 204 243 223 163
Creditors turnover ratio 2.45 2.46 1.79 1.50 1.64 2.24
Fixed assets turonver ratio 3.02 2.83 2.51 2.68 3.69 4.02
Total assets turnover ratio 1.05 1.05 1.09 1.00 1.34 1.36
Operating cycle 42 32 (31) (35) (50) 41
Investor information
Earnings per share 10.12 5.82 2.50 *3.92 2.30 5.40
Price earning ratio 4.65 7.38 16.36 *9.23 18.53 11.85
Price to book ratio 0.31 0.35 0.40 *0.33 0.45 0.48
Dividend yeild ratio 0.05 0.06 0.02 0.03 0.03 0.02
Cash dividend per share 2.50 2.50 1.00 1.00 1.50 1.50
Bonus shares issued 25
Dividend payout ratio 0.25 0.43 0.40 0.26 0.65 0.28
Dividend cover ratio 4.05 2.33 2.50 3.92 1.77 4.50
Break – up value per share 43.01 35.40 33.40 29.93 27.22 29.14
Market value per share
at the end of the year 47.12 42.93 40.98 36.19 49.05 64.01
high during the year. 58.4 49.5 61.2 53.2 73.25 72.35
low during the year 38.25 32.52 36.00 32.99 44.65 20.50
EBITDA 7,442 5,186 3,267 3,371 3,094 3,519
*Ratio restated based on number of shares outstanding as on June 30, 2019.