FAUJI CEMENT COMPANY LIMITED

Rupees in '000'

Profitibility Ratio

1. Earning Per Share (EPS)

Basic 2008 2007

Profit After Tax 413598 646323
Number of Share Equity 489456 374473

Earning Per Share (EPS) 0.85 1.73

Diluted 2008 2007

Profit After Tax 413598 646323
Number of Share Equity 538468 423622

Earning Per Share (EPS) 0.77 1.53

2. Return on Equity
2008 2007
Earning Before Tax 454564 788180
Total Equity 9283981 3735206

Return on Equity 5% 21%

3. Gross Profit Margin

2008 2007
Gross Profit 658112 1091495
Sales 4749217 4780036

Gross Profit Margin 14% 23%

4. Net Profit Margin

2008 2007
Net Profit 413598 646323
Sales 4749217 4780036

Net Profit Margin 9% 14%

5. Profit After Tax Margin
2008 2007
Earning After Tax 413598 646323
Quantity after sold 4749217 4780036

Profit After Tax 0.09 0.14

Investor Ratio

1. Earning Per Share (EPS)

2008 2007
Profit After Tax 413598 646323
Number of Share Outstanding 489456 374473

Earning Per Share (EPS) 0.85 1.73

2. Dividend Yeild
2008 2007
Dividend Per Share 0.17 0.17
Market Price per share 16.06 20.09

Dividend Yeild 1% 1%

3. Asset Value Per Share

2008 2007
Assets 12,454,493 6,400,688
No. of Common Shares 741988 419442

Asset Value Per Share 16.79 15.26

4. Price Earning Ratio

2008 2007
Market Price Per Share 16.06 20.09
Earning Per Share 0.85 1.73

Price Earning Ration 18.89 11.61

Liquidity Ratio

1. Current Ratio

2008 2007
Current Assets 5294083 1953527
Current Liabilities 2454761 1442287

Current Ratio 2.16 1.35

2. Quick Ratio / Acid Test Ratio

2008 2007
Current Assets 5294083 1953527
Current Liabilities 2454761 1442287
Inventories 1164607 671636

Quick Ratio / Acid Test Ratio 1.68 0.89

Efficiency Ratio

1. Asset turnover

2008 2007
Sales 4749217 4780036
Total Assets 12454493 6400688

Asset turnover 0.38 0.75

2. Debtors Receipt Period

Advances Concedered goods 2008 2007

To Suppliers 15521 815588
To Employees 2473 621
Receviables 7179 2084
Account Receivable 25173 818293

2008 2007
Sales 4749217 4780036
Account Receivable 25173 818293

Debtors Receipt Period 188.66 5.84

3. Payable Payout Period Ratio

2008 2007
Cost of goods Sold 2887790 2371788
Account Payable 493210 468447

Payable Payout Period Ratio 5.86 5.06

Leverage Ratio
2008 2007
Total Libilities 3170512 2665482
Total Equity 9283981 3735206

Leverage Ratio 0.34 0.71

 FAUJI CEMENT COMPANY LIMITED

Operation Highlights

Key Indicators Operating 2008 2007

Profitibility Ratio
1. Earning Per Share (EPS) 0.85 1.73
2. Return on Equity 5% 21%
3. Gross Profit Margin 14% 23%
4. Net Profit Margin 9% 14%
5. Profit After Tax 0.09 0.14

Investor Ratio
1. Earning Per Share (EPS) 85% 2%
2. Dividend Yeild 1% 1%
3. Asset Value Per Share 16.79 15.26
4. Price Earning Ratio 18.89 11.61

Liquidity Ratio
1. Current Ratio 2.16 1.35
2. Quick Ratio / Acid Test Ratio 1.68 0.89

Efficiency Ratio
1. Asset turnover 0.38 0.75
2. Debtors Receipt Period 188.66 5.84
3. Payable Payout Period Ratio 5.86 5.06
Leverage Ratio
1. Leverage Ratio 0.34 0.71
 Operating Results
Trend Analysis

0.352470685731537
0.080144273840988
0.059850126151821
2003 1.75336458605281
-0.4414435070842

0.535734267072129
2004 0.338104276780136
0.354108553250172
0.772702679182889
0.260977706887313
0.663801072200662
2005 0.493619903327581
0.484172745721808
0.868848303234619
0.424088358318068
2006 1 1 1 1 1
0.808019480474031
2007 0.498146830534829
0.487410773052091
0.783607078400436
0.536931301324627
0.82729534140058
2008
Net 0Sales 0.300355390484553
0.294575275810192
Gross Profit Operating F
0.1 0.2 0.555640056451643
0.343595558823163
0.3 0.4
0.5 0.6 Profit C
0.7 0.8 0.9
Profit/Loss 1
after taxation
 ults
sis

35070842

89
706887313

9
358318068

6
01324627
rating
43 Finalcial
58823163
t Charges
1
 Balance Sheet
Trend Analysis

0.495027595360653
1.02111145566132
2003 2.19031797468354
Lo
0.590728068489257
2004 1.03640911964743
1.8457453164557 Lo
0.746241185005744 Fix
2005 1.02085351782719
1.55696202531646 Sh
1 Eq
2006 1
1
1.13787444590703
2007
0.962599014050709
0.721518987341772
20082.82822546766802
1.55740081063046
0.443037974683544
t
s

4
Long Term
57 Loans
Fixed Assets
646 Shareholder's
Equity

7341772

46
7974683544
 FAUJI CEMENT COMPANY LIMITED
Financial Data

Operating Results
2008 2007 2006
Net Sales 3545.902 3463.283 4286.138
Gross Profit 658.112 1091.495 2191.111
Operating Profit 601.518 995.285 2041.984
FinaIcial Charges 146.854 207.105 264.297
Profit/Loss after taxation 413.598 646.323 1203.735

Balance Sheet

2008 2007 2006

Shareholder's Equity 9283.981 3735.206 3282.617
Fixed Assets 7106.599 4392.450 4563.115
Long Term Loans 875.000 1425.000 1975.000
(including current portion)

Trend Analysis
Operating Results
2008 2007 2006
Net Sales 83% 81% 100%
Gross Profit 30% 50% 100%
Operating Profit 29% 49% 100%
Finalcial Charges 56% 78% 100%
Profit/Loss after taxation 34% 54% 100%

Balance Sheet
2008 2007 2006
Shareholder's Equity 283% 114% 100%
Fixed Assets 156% 96% 100%
Long Term Loans 44% 72% 100%
(including current portion)
MPANY LIMITED
Data
Rupees in '000'

2005 2004 2003

2845.143 2296.231 1510.738
1081.576 740.824 175.605
988.673 723.084 122.213
229.634 204.223 463.409
510.490 314.148 ((531.381)

2005 2004 2003

2449.624 1939.134 1624.986
4658.272 4729.254 4659.449
3075.000 3645.347 4325.878

Trade and other payable

lysis

2005 2004 2003

66% 54% 35%
49% 34% 8%
48% 35% 6%
87% 77% 175%
42% 26% -44%

2005 2004 2003

75% 59% 50%
102% 104% 102%
156% 185% 219%
 FAUJI CEMENT COMPANY LIMITED
Profit & Loss Statement
For the Year Ended June 30, 2008

Actual Statement Vertical Analysis

2008 2007 2008 2007

Sales ### ### Sales 100% 100%
Less: Government levies ### ### Less: Government levies -25% -28%

NET SALES ### ### NET SALES 75% 72%

Less: Cost of Sales ### ### Less: Cost of Sales -61% -50%
GROSS PROFIT ### ### GROSS PROFIT 14% 23%

Other Income 107574 73835 Other Income 2% 2%

Distribution cost ((53383) ((40645) Distribution cost -1% -1%
Administration expenses
((76495) ((71302) Administration expenses -2% -1%
other operating expenses
((34290) ((58098) Trade
other
and operating
other payable
expenses-1% -1%
Finance cost ### ### Finance cost -3% -4%

NET PROFIT BEFORE TAX### ### NET PROFIT BEFORE TAX

10% 16%

Less: Taxation ((40966) ### Less: Taxation -1% -3%

NET PROFIT AFTER TAX ### ### NET PROFIT AFTER TAX9% 14%
Y LIMITED
ent
2008

Horizontal Analysis

2008 2007
Sales 99% 100%
Less: Government levies 91% 100%

NET SALES 102% 100%

Less: Cost of Sales 122% 100%

GROSS PROFIT 60% 100%

Other Income 146% 100%

Distribution cost 131% 100%
Administration expenses107% 100%
other operating expenses59% 100%
Finance cost 71% 100%

NET PROFIT BEFORE TAX

58% 100%

Less: Taxation 29% 100%

NET PROFIT AFTER TAX64% 100%

Base Year / operating key

 FAUJI CEMENT COMPANY LIMITED
Balance Sheet
For the Year Ended June 30, 2008
Horizontal or Trend Analysis
Increase / Decrease
ASSETS 2008 2007 Amount Percentage

Property, plant and Equipment 7,106,599 ### 2,714,059 38.19%

-
FIXED ASSETS - Tangible ### ### 2,714,059 38.19%
-
LONG TERM ADVANCE 7,200 8,100 (900) -12.50%
-
LONG TERM DEPOSITS 46,611 46,611 - 0.00%
-
CURRENT ASSETS -
Stores, spares and tools 907,591 468,769 438,822 48.35%
Stock in trade 230,089 183,309 46,780 20.33%
Trade Debts 26,927 19,558 7,369 27.37%
Advances, deposits, repayments, 345,567 858,758 (513,191) -148.51%
and other receivables -
Cash and bank balances 3,783,909 423,133 3,360,776 88.82%
CURRENT ASSETS ### ### 3,340,556 63.10%
-
### ### 6,053,715 48.61%

EQUITY AND LIABILITIES 2008 2007

Share Capital 7,419,887 ### 3,225,465 43.47%
Reserves 1,864,094 (459,216) 2,323,310 124.63%
-
SHARE CAPITAL AND RESERVES ### ### 5,548,775 59.77%
-
Long term financing 325,000 875,000 (550,000) -169.23%
Deferred libiliaty - compensated absences 9,468 8,277 1,191 12.58%
Deferred tax liability - net 363,154 339,918 23,236 6.40%
Retention money payable 18,129 - 18,129 100.00%
-
NON - CURRENT LIBILITIES 715,751 ### (507,444) -70.90%
-
Trade and other payable 493,210 468,447 24,763 5.02%
Markup 33,186 48,330 (15,144) -45.63%
Short term borrowings - secured 1,378,365 375,510 1,002,855 72.76%
Current portion of long term financing 550,000 550,000 - 0.00%
-
CURRENT LIBILITIES ### ### 1,012,474 41.25%
-
### ### 6,053,805 48.61%
 FAUJI CEMENT COMPANY LIMITED
Balance Sheet
For the Year Ended June 30, 2008
Horizontal or Trend Analysis
Common Size Percentage
ASSETS 2008 2007 2008

Property, plant and Equipment 7,106,599 4,392,540 57.06%

FIXED ASSETS - Tangible 7,106,599 ### 57.06%

LONG TERM ADVANCE 7,200 8,100 0.06%

LONG TERM DEPOSITS 46,611 46,611 0.37%

CURRENT ASSETS
Stores, spares and tools 907,591 468,769 7.29%
Stock in trade 230,089 183,309 1.85%
Trade Debts 26,927 19,558 0.22%
Advances, deposits, repayments, 345,567 858,758 2.77%
and other receivables
Cash and bank balances 3,783,909 423,133 30.38%
CURRENT ASSETS 5,294,083 ### 42.51%

12,454,493 ### 100%

EQUITY AND LIABILITIES

Share Capital 7,419,887 4,194,422 59.58%
Reserves 1,864,094 (459,216) 14.97%

SHARE CAPITAL AND RESERVES 9,283,981 ### 74.54%

Long term financing 325,000 875,000 2.61%

Deferred libiliaty - compensated absences 9,468 8,277 0.08%
Deferred tax liability - net 363,154 339,918 2.92%
Retention money payable 18,129 - 0.15%

NON - CURRENT LIBILITIES 715,751 ### 5.75%

Trade and other payable 493,210 468,447 3.96%

Markup 33,186 48,330 0.27%
Short term borrowings - secured 1,378,365 375,510 11.07%
Current portion of long term financing 550,000 550,000 4.42%
CURRENT LIBILITIES 2,454,761 ### 19.71%

12,454,493 ### 100%

08

ommon Size Percentage

2007

68.63%

68.63%

0.13%

0.73%

7.32%
2.86%
0.31%
13.42%

6.61%
30.52%

100%

65.53%
-7.17%

58.36%

13.67%
0.13%
5.31%

19.11%

7.32%
0.76%
5.87%
8.59%
22.53%

100%