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KOHAT CEMENT COMPANY LTD

PROFIT AND LOSS ACCOUNT


For The Year Ended On…. Rupees in (''000'')
2005 2006
GROSS SALES 1958321 2800130
Local 1952966 2436802
Export 5355 363328
LESS: EXCISE DUTY 359104 415096
SALES TAX 254838 318649
COMMISION 21651 21258
FREIGHT AND HANDLING CHARGES 0 35697
NET SALES 1322728 2009430
COST OF SALES 936066 1372012
Raw material cosumed 73277 106379
Paking material consumed 84805 113741
Fuel and power 444204 759156
Stores and spares consumed 36570 42789
Salaries,wages and benefits 82129 83929
Insurance 4622 5021
Repaires and maintenance 12849 16892
Depriciation 179357 229080
Amortization of deferred cost 0 0
Other manufacturing expenses 19208 16908
TOTAL 863744 1267516
WOR IN PROCESS 4269 -1673
Opening 27649 23380
Closing -23380 -25053
COST OF GOODS MANUFACTURED -5224 -210
Finshed goods 0 0
Opening 15759 20983
Closing -20983 -21193
GROSS PROFIT 386662 637418
Selling, adminstrative and gernal expense 86231 97995
Salaries,wages and benefits 50527 53390
Insuranse 782 939
Rent,rates and taxes 4012 5145
Depreciation 4997 4259
Entertainment 2377 2242
Repair and maintenance 3913 3697
Utilities 3466 3502
Others 16157 24821
FINANCIAL CHARGES 117421 120745
Mark-up on 83494 85578
Interest on 18871 19369
Fee,charges and commission 15056 15798
OTHER INCOME / CHARGES -NET -55208 24759
TOTAL 148444 243499
PROFIT / (LOSS) BEFORE TAXATION 238218 393919
TAXATION 186047 61830
CURRENT -6695 11331
DEFERRED 192742 50499
PROFIT / (LOSS) AFTER TAXATION 424265 332089
ACCUMULATED LOSS BROUGHT FORWARD -833393 0
ACCUMULATED LOSS CARRIED FORWARD -409128
(RUPEES)
BASIC EARNINGS / (LOSS) PER SHARE 4.45
DILUTED EARNINGS /(LOSS) PER SHARE 3.79 2.33
PANY LTD
UNT
s in (''000'')
2007 2008 2009
4153574 4648655 6607418
3754854 4276682 5150358
398720 371973 1457060
537546 857096 1037376
489764 557863 667291
22694 48278 48987
27648 0 0
3075922 3185418 4853764
1845284 2813309 4340151
145854 266895 336729
138757 249081 366057
1002810 1596171 2712875
53323 123061 145887
150995 190478 176297
6072 10072 10423
21472 46517 51717
269459 357681 416238
0 0 0
19620 32497 29097
1662508 2605558 3908591
781 -66404 97532
44977 44196 110600
-44196 -110600 -13068
36141 7260 -2701
0 0 0
52636 16495 9235
-16495 -9235 -11936
1230638 372109 513613
113219 195281 556025
62949 81345 89424
968 1525 1739
6328 5910 4671
5176 6845 7866
3081 1599 1480
2988 3646 2813
3640 4287 3914
28089 90124 444118
196949 365848 413203
149682 298405 354226
32063 32458 34314
15204 34985 24663
-12601 -4579 118399
297567 556550 1087627
933071 -184441 -574014
257089 90947 394043
17718 -18300 -24514
239371 109247 418557
675982 -93494 -179971
0 0 0

4.16 -0.5 -0.93


KOHAT CEMENT COMPANY LTD
BALANCE SHEET
AS ENDED ON DEC 31…… ( Rupees in '000')
2005 2006
CURRENT ASSETS 395013 462683
Cash and Bank Balance 37199 17529
Current accounts 36890 16970
Deposit accounts 66 54
Cash in hand 243 505
Others 0 0
Stock in trade 50809 56825
Raw material 2757 3433
Packing material 3689 7146
Work in process 23380 25053
Finished goods 20983 21193
Trade Debts 24712 18944
loans,Deposits,Payments, 27413 82266
Loans-unsecured,considerd goods 1309 1265
Advances-Unsecured 22651 72633
Executives 2283 1857
Employees 1214 2417
Suppliers and Contractors 1130 13839
Excise Duty 4759 42274
tax-net 13265 12246
Deposit's 772 600
Prepayments 2080 1235
Other recievables 601 6533
Stores,spares andloose tools 254880 287119
Stores 94968 70520
Spares 118020 209898
Loose tools 2044 2590
Spares in transit 39848 4111
NONE CURRENT ASSETS 3879637 6425232
Tangible fixed assets 3657284 6381731
Operating fixed assets 3572688 4398164
Capital work in process 84596 1983567
Long term loans 5956 6718
Long term deoposits 23655 36783
Utilities 12480 12480
Leasing companies 10349 23150
Others 826 1153
Deferred tax asset-net 192742 0
available tax losses 523672 0
tax depreciation -356183 0
retirement benefits 19749 0
others 5504 0
TOTAL ASSETS
CURRENT LIABILITIES 383121 989539
Current maturities of redeemable 189058 63695
capital and loans
Redeemable capital 10160 63695
Foreign Currency Loans 146277 0
Local Currency loans 32621 0
Current portion of liabilities against assets subject to finance lease 6189 13114
Creditors,accrued and other liabilities 185969 912730
Creditors 26298 488772
accrued expense 22069 74993
Other liabilities 137602 348965
Unclaimed divedend 1905 0
NON-CURRENT LIABILITIES 3346286 3647953
Redeemable Capital 185923 418021
long term loans 196083 418021
current maturity under liabilities -10160 0
Long Term Loans 1911662 1973151
foreign cuurency loans 907554 871651
local currency loans 1183006 1165195
current portion shown under current liabilities -178898 -63695
Deferred Liabilities 1236845 975490
Liabilities Against Assets Suject To Finance Lease 9536 274644
Long term deoposits 2320 6647
From distributers 1000 640
From suppliers 657 1000
From employees 663 5007
CONTINGENCIES AND COMMITMENTS 0 0
SHARE CAPITAL AND RESERVES 545243 1547466
Authorized Capital 2500000 2500000
200000000 ordinary shares @ Rs.10/- 2000000 2000000
50000000 preference shares @ Rs.10/- 500000 500000
Issued, Subscribed And Paid-up 954371 1547466
Capital
ordinary shares @Rs.10/-each fully 0 0
paid in cash
Accumulated Loss -409128 0
DEFERRED INCOME 0 702957
Liabilities 3729407 5340449
TOTAL LIABILTIE & equity 4274650 6887915
NY LTD

pees in '000')
2007 2008 2009
617732 966292 787308
104752 305492 139183
70684 304661 76103
54 54 54
1167 777 768
32847 0 62258
96757 150294 68691
23609 16480 7936
12457 13978 35751
44196 110600 13068
16495 9236 11936
12490 29717 40124
27875 64203 112117
1514 1612 1457
23055 59371 72315
1747 1385 2607
2572 2915 2059
4203 18717 56925
3634 32847 0
10899 3507 10724
600 2350 18490
950 641 227
1756 229 19628
375858 416586 427193
105450 112886 126543
248642 282275 276506
13233 14371 8404
8533 7054 15740
7787264 7644205 9685281
7683391 7510640 9570865
7075726 7509855 9508720
607665 785 62145
5064 7248 6415
98809 126317 108001
35730 35730 35741
61766 89267 70977
1313 1320 1283
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0

1398304 2073259 2987709


354170 99720 378836

354170 0 0
0 0 0
0 99720 378836
133585 0 0
910549 1973539 2608873
298260 283428 29594
42463 72176 110932
569826 1617935 2468347
0 0 0
4080287 3866811 2939564
945660 144100 91965
945660 144100 91965
0 0 0
1812063 2293709 1701777
818255 674802 771469
1347978 2190993 1898619
-354170 -572086 -968311
862867 937178 906186
454070 486577 237795
5627 5247 1841
220 600 300
400 635 316
5007 4012 1225
0 0 0
2926405 2670427 4545316
2500000 2500000 2500000
2000000 2000000 2000000
500000 500000 500000
1624839 1698148 1995324

0 0 0

0 0 0
1301566 972279 2549992
5478591 5940070 5927273
8404996 8610497 10472589
KOHAT CEMENT COMPANY LTD
Profit And Loss Account
For The Year Ended On…. Rupees in (''000'')
Trend Analysis
2005 2006 2007

GROSS SALES 100 143 212


Local 100 125 192
Export 100 6785 7446
LESS: EXCISE DUTY 100 116 150
SALES TAX 100 125 192
COMMISION 100 98 105
FREIGHT AND HANDLING CHARGES 0 0 0
NET SALES 100 152 233
COST OF SALES 100 147 197
Raw material cosumed 100 145 199
Paking material consumed 100 134 164
Fuel and power 100 171 226
Stores and spares consumed 100 117 146
Salaries,wages and benefits 100 102 184
Insurance 100 109 131
Repaires and maintenance 100 131 167
Depriciation 100 128 150
Amortization of deferred cost 0 0 0
Other manufacturing expenses 100 88 102
TOTAL 100 147 192
WOR IN PROCESS 100 -39 18
Opening 100 85 163
Closing 100 107 189
COST OF GOODS MANUFACTURED 100 4 -692
Finshed goods 0 0 0
Opening 100 133 334
Closing 100 101 79

GROSS PROFIT 100 165 318

Selling, adminstrative and gernal expense 100 114 131


Salaries,wages and benefits 100 106 125
Insuranse 100 120 124
Rent,rates and taxes 100 128 158
Depreciation 100 85 104
Entertainment 100 94 130
Repair and maintenance 100 94 76
Utilities 100 101 105
Others 100 154 174
FINANCIAL CHARGES 100 103 168
Mark-up on 100 102 179
Interest on 100 103 170
Fee,charges and commission 100 105 101
OTHER INCOME / CHARGES -NET 100 -45 23
TOTAL 100 164 200
PROFIT / (LOSS) BEFORE TAXATION 100 165 392
TAXATION 100 33 138
CURRENT 100 -169 -265
DEFERRED 100 26 124
PROFIT / (LOSS) AFTER TAXATION 100 78 159
ACCUMULATED LOSS BROUGHT FORWARD 100 0 0
ACCUMULATED LOSS CARRIED FORWARD 100 0 0
BASIC EARNINGS / (LOSS) PER SHARE 100 0 0
DILUTED EARNINGS /(LOSS) PER SHARE 100 61 110
2008 2009

237 337
219 264
6946 27209
239 289
219 262
223 226
0 0
241 367
301 464
364 460
294 432
359 611
337 399
232 215
218 226
362 402
199 232
0 0
169 151
302 453
-1555 2285
160 400
473 56
-139 52
0 0
105 59
44 57

96 133

226 645
161 177
195 222
147 116
137 157
67 62
93 72
124 113
558 2749
312 352
357 424
172 182
232 164
8 -214
375 733
-77 -241
49 212
273 366
57 217
-22 -42
0 0
0 0
0 0
-13 -25
KOHAT CEMENT COMPANY LTD
BALANCE SHEET
AS ENDED ON DEC 31…… ( Rupees in '000')
Trend anaylsis
2005 2006 2007
CURRENT ASSETS 100 117.13 156.38
Cash and Bank Balance 100 47.12 281.6
Current accounts 100 46 191.61
Deposit accounts 100 81.82 81.82
Cash in hand 100 207.82 480.25
Others 0 0 13517.28
Stock in trade 100 111.84 190.43
Raw material 100 124.52 856.33
Packing material 100 193.71 337.68
Work in process 100 107.16 189.03
Finished goods 100 101 78.61
Trade Debts 100 76.66 50.54
loans,Deposits,Payments,Advances 100 300.1 101.69
Loans-unsecured,considerd goods 100 96.64 115.66
Advances-Unsecured 100 320.66 101.78
Executives 100 81.34 76.52
Employees 100 199.09 211.86
Suppliers and Contractors 100 1224.69 371.95
Excise Duty 100 888.3 76.36
tax-net 100 92.32 82.16
Deposit's 100 77.72 77.72
Prepayments 100 59.38 45.67
Other recievables 100 1087.02 292.18
Stores,spares andloose tools 100 112.65 147.46
Stores 100 74.26 111.04
Spares 100 177.85 210.68
Loose tools 100 126.71 647.41
Spares in transit 100 10.32 21.41
NONE CURRENT ASSETS 100 165.61 200.72
Tangible fixed assets 100 174.49 210.08
Operating fixed assets 100 123.11 198.05
Capital work in process 100 2344.75 718.31
Long term loans 100 112.79 85.02
Long term deoposits 100 155.5 417.71
Utilities 100 100 286.3
Leasing companies 100 223.69 596.83
Others 100 139.59 158.96
Deferred tax asset-net 100 0 0
available tax losses 100 0 0
tax depreciation 100 0 0
retiement benefits 100 0 0
others 100 0 0
TOTAL ASSETS 100 161.13 196.62
CURRENT LIABILITIES 100 258.28 364.98
Current maturities of redeemable capital and loans 100 33.69 187.33
Redeemable capital 100 626.92 3485.93
Foreign Currency Loans 100 0 0
Local Currency loans 100 0 0
Current portion of liabilities against assets subject to finance lease 100 211.89 2158.43
Creditors,accrued and other liabilities 100 490.8 489.62
Creditors 100 1858.59 1134.15
accrued expense 100 339.81 192.41
Other liabilities 100 253.6 414.11
Unclaimed divedend 100 0 0
NON-CURRENT LIABILITIES 100 109.01 121.93
Redeemable Capital 100 224.84 508.63
long term loans 100 213.19 482.28
current maturity under liabilities 100 0 0
Long Term Loans 100 103.22 94.79
foreign cuurency loans 100 96.04 90.16
local currency loans 100 98.49 113.95
current portion shown under current liabilities 100 35.6 197.97
Deferred Liabilities 100 78.87 69.76
Liabilities Against Assets Suject To Finance Lease 100 2880.08 4761.64
Long term deoposits 100 286.51 242.54
From distributers 100 64 22
From suppliers 100 152.21 60.88
From employees 100 755.2 755.2
CONTINGENCIES AND COMMITMENTS 0 0 0
SHARE CAPITAL AND RESERVES 100 283.81 536.72
Authorized Capital 100 100 100
200000000 ordinary shares @ Rs.10/-each 100 100 100
50000000 prefrence shares @ Rs.10/-each 100 100 100
Issued,Subscribed And Paid-up Capital 100 162.15 170.25
ordinary shares @Rs.10/-each fully paid in cash 0 0 0
Acumalated Loss 100 0 0
DEFERRED INCOME 0 0 0
TOTAL LIABILTIES 100 161.13 196.62
000')

2008 2009
244.62 199.31
821.24 374.16
825.86 206.3
81.82 81.82
319.75 316.05
0 25620.58
295.8 135.19
597.75 287.85
378.91 969.12
473.05 55.89
44.02 56.88
120.25 162.37
234.21 408.99
123.15 111.31
262.11 319.26
60.67 114.19
240.12 169.6
1656.37 5037.61
690.21 0
26.44 80.84
304.4 2395.08
30.82 10.91
38.1 3265.89
163.44 167.61
118.87 133.25
239.18 234.29
703.08 411.15
17.7 39.5
197.03 249.64
205.36 261.69
210.2 266.15
0.93 73.46
121.69 107.71
534 456.57
286.3 286.39
862.57 685.83
159.81 155.33
0 0
0 0
0 0
0 0
0 0
201.43 244.99
541.15 779.83
52.75 200.38
0 0
0 0
305.69 1161.33
0 0
1061.22 1402.85
1077.75 112.53
327.05 502.66
1175.81 1793.83
0 0
115.56 87.85
77.51 49.46
73.49 46.9
0 0
119.99 89.02
74.35 85.01
185.21 160.49
319.78 541.26
75.77 73.27
5102.53 2493.66
226.16 79.35
60 30
96.65 48.1
605.13 184.77
0 0
489.77 833.63
100 100
100 100
100 100
177.93 209.07
0 0
0 0
0 0
201.43 244.99
KOHAT CEMENT COMPANY LTD
Profit And Loss Account
For The Year Ended On…. Rupees in (''000'')
Percentage Change
2005 & 2006 2006 & 2007

GROSS SALES 42.99% 48.34%


Local 24.77% 54.09%
Export 6684.84% 9.74%
LESS: EXCISE DUTY 15.59% 29.50%
SALES TAX 25.04% 53.70%
COMMISION -1.82% 6.76%
FREIGHT AND HANDLING CHARGES 0.00% -22.55%
NET SALES 51.92% 53.07%
COST OF SALES 46.57% 34.49%
Raw material cosumed 45.17% 37.11%
Paking material consumed 34.12% 21.99%
Fuel and power 70.90% 32.10%
Stores and spares consumed 17.01% 24.62%
Salaries,wages and benefits 2.19% 79.91%
Insurance 8.63% 20.93%
Repaires and maintenance 31.47% 27.11%
Depriciation 27.72% 17.63%
Amortization of deferred cost 0.00% 0.00%
Other manufacturing expenses -11.97% 16.04%
TOTAL 46.75% 31.16%
WOR IN PROCESS -139.19% -146.68%
Opening -15.44% 92.37%
Closing 7.16% 76.41%
COST OF GOODS MANUFACTURED -95.98% -17310.00%
Finshed goods 0.00% 0.00%
Opening 33.15% 150.85%
Closing 1.00% -22.17%
GROSS PROFIT 64.85% 93.07%
Selling, adminstrative and gernal expense 13.64% 15.54%
Salaries,wages and benefits 5.67% 17.90%
Insuranse 20.08% 3.09%
Rent,rates and taxes 28.24% 22.99%
Depreciation -14.77% 21.53%
Entertainment -5.68% 37.42%
Repair and maintenance -5.52% -19.18%
Utilities 1.04% 3.94%
Others 53.62% 13.17%
FINANCIAL CHARGES 2.83% 63.11%
Mark-up on 2.50% 74.91%
Interest on 2.64% 65.54%
Fee,charges and commission 4.93% -3.76%
OTHER INCOME / CHARGES -NET -144.85% -150.89%
TOTAL 64.03% 22.20%
PROFIT / (LOSS) BEFORE TAXATION 65.36% 136.87%
TAXATION -66.77% 315.80%
CURRENT -269.25% 56.37%
DEFERRED -73.80% 374.01%
PROFIT / (LOSS) AFTER TAXATION -21.73% 103.55%
ACCUMULATED LOSS BROUGHT FORWARD -100.00% 0.00%
ACCUMULATED LOSS CARRIED FORWARD -100.00% 0.00%
BASIC EARNINGS / (LOSS) PER SHARE -100.00%
DILUTED EARNINGS /(LOSS) PER SHARE -38.52% 78.54%
Y LTD

n (''000'')

2007 & 2008 2008 & 2009

11.92% 42.14%
13.90% 20.43%
-6.71% 291.71%
59.45% 21.03%
13.90% 19.62%
112.73% 1.47%
-100.00% 0.00%
3.56% 52.37%
52.46% 54.27%
82.99% 26.17%
79.51% 46.96%
59.17% 69.96%
130.78% 18.55%
26.15% -7.44%
65.88% 3.48%
116.64% 11.18%
32.74% 16.37%
0.00% 0.00%
65.63% -10.46%
56.72% 50.01%
-8602.43% -246.88%
-1.74% 150.25%
150.25% -88.18%
-79.91% -137.20%
0.00% 0.00%
-68.66% -44.01%
-44.01% 29.25%
-69.76% 38.03%
72.48% 184.73%
29.22% 9.93%
57.54% 14.03%
-6.61% -20.96%
32.24% 14.92%
-48.10% -7.44%
22.02% -22.85%
17.77% -8.70%
220.85% 392.79%
85.76% 12.94%
99.36% 18.71%
1.23% 5.72%
130.10% -29.50%
-63.66% -2685.70%
87.03% 95.42%
-119.77% 211.22%
-64.62% 333.27%
-203.28% 33.96%
-54.36% 283.13%
-113.83% 92.49%
0.00% 0.00%
0.00% 0.00%

-112.02% 86.00%
KOHAT CEMENT COMPANY LIMITED
BALANCE SHEET
Percentage Change
2005 & 2006 2006 & 2007 2007 & 2008
CURRENT ASSETS 17.13% 33.51% 56.43%
Cash and Bank Balance -52.88% 497.59% 191.63%
Current accounts -54.00% 316.52% 331.02%
Deposit accounts -18.18% 0.00% 0.00%
Cash in hand 107.82% 131.09% -33.42%
Others 0.00% 0.00% -100.00%
Stock in trade 11.84% 70.27% 55.33%
Raw material 24.52% 587.71% -30.20%
Packing material 93.71% 74.32% 12.21%
Work in process 7.16% 76.41% 150.25%
Finished goods 1.00% -22.17% -44.01%
Trade Debts -23.34% -34.07% 137.93%
loans,Deposits,Payments,Advances 200.10% -66.12% 130.32%
Loans-unsecured,considerd goods -3.36% 19.68% 6.47%
Advances-Unsecured 220.66% -68.26% 157.52%
Executives -18.66% -5.92% -20.72%
Employees 99.09% 6.41% 13.34%
Suppliers and Contractors 1124.69% -69.63% 345.32%
Excise Duty 788.30% -91.40% 803.88%
tax-net -7.68% -11.00% -67.82%
Deposit's -22.28% 0.00% 291.67%
Prepayments -40.63% -23.08% -32.53%
Other recievables 987.02% -73.12% -86.96%
Stores,spares andloose tools 12.65% 30.91% 10.84%
Stores -25.74% 49.53% 7.05%
Spares 77.85% 18.46% 13.53%
Loose tools 26.71% 410.93% 8.60%
Spares in transit -89.68% 107.57% -17.33%
NONE CURRENT ASSETS 65.61% 21.20% -1.84%
Tangible fixed assets 74.49% 20.40% -2.25%
Operating fixed assets 23.11% 60.88% 6.14%
Capital work in process 2244.75% -69.37% -99.87%
Long term loans 12.79% -24.62% 43.13%
Long term deoposits 55.50% 168.63% 27.84%
Utilities 0.00% 186.30% 0.00%
Leasing companies 123.69% 166.81% 44.52%
Others 39.59% 13.88% 0.53%
Deferred tax asset-net -100.00% 0.00% 0.00%
available tax losses -100.00% 0.00% 0.00%
tax depreciation -100.00% 0.00% 0.00%
retiement benefits -100.00% 0.00% 0.00%
others -100.00% 0.00% 0.00%
TOTAL ASSETS 61.13% 22.03% 2.44%
CURRENT LIABILITIES 158.28% 41.31% 48.27%
Current maturities of redeemable capital and loans -66.31% 456.04% -71.84%
Redeemable capital 526.92% 456.04% -100.00%
Foreign Currency Loans -100.00% 0.00% 0.00%
Local Currency loans -100.00% 0.00% 0.00%
Current portion of liabilities against assets subject to finance
111.89%
lease 918.64% -100.00%
Creditors,accrued and other liabilities 390.80% -0.24% 116.74%
Creditors 1758.59% -38.98% -4.97%
accrued expense 239.81% -43.38% 69.97%
Other liabilities 153.60% 63.29% 183.93%
Unclaimed divedend -100.00% 0.00% 0.00%
NON-CURRENT LIABILITIES 9.01% 11.85% -5.23%
Redeemable Capital 124.84% 126.22% -84.76%
long term loans 113.19% 126.22% -84.76%
current maturity under liabilities -100.00% 0.00% 0.00%
Long Term Loans 3.22% -8.16% 26.58%
foreign cuurency loans -3.96% -6.13% -17.53%
local currency loans -1.51% 15.69% 62.54%
current portion shown under current liabilities -64.40% 456.04% 61.53%
Deferred Liabilities -21.13% -11.55% 8.61%
Liabilities Against Assets Suject To Finance Lease 2780.08% 65.33% 7.16%
Long term deoposits 186.51% -15.35% -6.75%
From distributers -36.00% -65.63% 172.73%
From suppliers 52.21% -60.00% 58.75%
From employees 655.20% 0.00% -19.87%
CONTINGENCIES AND COMMITMENTS 0.00% 0.00% 0.00%
SHARE CAPITAL AND RESERVES 183.81% 89.11% -8.75%
Authorized Capital 0.00% 0.00% 0.00%
200000000 ordinary shares @ Rs.10/-each 0.00% 0.00% 0.00%
50000000 prefrence shares @ Rs.10/-each 0.00% 0.00% 0.00%
Issued,Subscribed And Paid-up Capital 62.15% 5.00% 4.51%
ordinary shares @Rs.10/-each fully paid in cash 0.00% 0.00% 0.00%
Acumalated Loss -100.00% 0.00% 0.00%
DEFERRED INCOME 0.00% 85.16% -25.30%
TOTAL LIABILTIES 61.13% 22.03% 2.44%
2008 & 2009
-18.52%
-54.44%
-75.02%
0.00%
-1.16%
0.00%
-54.30%
-51.84%
155.77%
-88.18%
29.23%
35.02%
74.63%
-9.62%
21.80%
88.23%
-29.37%
204.14%
-100.00%
205.79%
686.81%
-64.59%
8471.18%
2.55%
12.10%
-2.04%
-41.52%
123.14%
26.70%
27.43%
26.62%
7816.56%
-11.49%
-14.50%
0.03%
-20.49%
-2.80%
0.00%
0.00%
0.00%
0.00%
0.00%
21.63%
44.11%
279.90%
0.00%
0.00%
279.90%
0.00%
32.19%
-89.56%
53.70%
52.56%
0.00%
-23.98%
-36.18%
-36.18%
0.00%
-25.81%
14.33%
-13.34%
69.26%
-3.31%
-51.13%
-64.91%
-50.00%
-50.24%
-69.47%
0.00%
70.21%
0.00%
0.00%
0.00%
17.50%
0.00%
0.00%
162.27%
21.63%
KOHAT CEMENT COMPANY LTD
Ratio analysis
2005 2006 2007 2008 2009
net working capital 11892 -526856 -780572 -1106967 -2200401
current ratio 1.03 0.47 0.44 0.47 0.26
acid ratio 0.9 0.41 0.37 0.39 0.24
Cash Ratio 0.1 0.02 0.07 0.15 0.05
Debt/Equity Ratio 683.99% 345.11% 187.21% 222.44% 130.40%
Debt to Tangible Net worth 683.99% 345.11% 187.21% 222.44% 130.40%
Day's sales in account Receivable 7.56 14.94 3.31 7.36 8.43
Account Receivable turnover 48.25 24.43 110.35 49.61 43.29
Day's sales in inventory -8.18 -5.64 -3.26 -1.2 -1
Inventory turnover 18.42 24.14 19.07 18.72 63.18
Net profit margin 32.07% 16.53% 21.98% -2.94% -3.71%
Total assets turnover 0.31 0.29 0.37 0.37 0.46
Return on assets 9.93% 4.82% 8.04% -1.09% -1.72%
Operating income margin -4.17% 1.23% -0.41% -0.14% 2.44%
Operating assets turnover 0.37 0.46 0.43 0.42 0.51
Return on operating assets 11.88% 7.55% 9.55% -1.24% -1.89%
Sales to fixed assets 0.36 0.31 0.4 0.42 0.51
Return on investment 0.15 0.1 0.08 0.07 0.06
Return on total equity 9.93% 6.16% 5.05% 4.93% 4.05%
Gross profit margin 29.23% 31.72% 40.01% 11.68% 10.58%
Price/earning ratio 1.17 1.91 1.07 -8.9 -4.78
Percentage of retained earning 1 1 1 1 1
F

Liquidity Ratios

2: Current Ratio =Current Assets/Current Liablities

Year 2005 2006 2007


Current Assets 395013 462683 617732
Current Liabilities 383121 989539 1398304
Ratio 1.03 0.47 0.44

3: Quick Ratio=Current Assets -Inventory/Current Liabilities

Year 2005 2006 2007


Current Assets 395013 462683 617732
Inventroy 50809 56825 96757
Current Liabillities 383121 989539 1398304
Ratio 0.9 0.41 0.37

6: Cash Ratio =Cash +S.T Investment/Current Liabilities


Year 2005 2006 2007
Cash 37199 17529 104752
Marketable securities
Current liabilities 383121 989539 1398304
Cash ratio (times) 0.1 0.02 0.07

1: Net working Capital=Current Assets-Current Liabilities

Year 2005 2006 2007


Current Assets 395013 462683 617732
Current Liabilities 383121 989539 1398304
Net working capital 11892 -526856 -780572

Activity Ratios
10: Inventory Turnover Ratio =Cost of sales/Inventory
Year 2005 2006 2007
Inventory 50809 56825 96757
Cost of goods sold 936066 1372012 1845284
18.42 24.14 19.07
15: Operating Asset Turnover
Year 2005 2006 2007
Net sales 1322728 2009430 3075922
Operating assets 3572688 4398164 7075726
operating asset turnover 0.37 0.46 0.43

12: Total Asset Turnover Ratio =Sales/Total Assets

Year 2005 2006 2007


Net sales 1322728 2009430 3075922
Average total assets 4274650 6887915 8404996
Total asset turnover 0.31 0.29 0.37

11: Net profit margin=(Net Profit/Net sales)*100


Year 2005 2006 2007

Net income 424265 332089 675982


Net sales 1322728 2009430 3075922
Net profit margin 32.07% 16.53% 21.98%

16: Return on Operating Assets


Year 2005 2006 2007
Net income 424265 332089 675982

Operating assets 3572688 4398164 7075726


Return on operating assets 11.88% 7.55% 9.55%

22: Percentage Of Retained Earning


Year 2005 2006 2007
Net income 424265 332089 675982
Dividend 1905 0 0
percentage of retained earning 1 1 1
Financial Ratios

s/Current Liablities

2008 2009 5. Debt to tangible net wort


966292 787308 Year 2005
2073259 2987709 Total liabilities 4274650
0.47 0.26 Shareholders equity 545243
Intangible assets
Debt to tangible net worth (%) 683.99%

ntory/Current Liabilities

2008 2009
966292 787308 4: Debt/equity Ratio
150294 68691 Year 2005
2073259 2987709 Total liabilities 4274650
0.39 0.24 Shareholder’s equity 545243
Debt/equity ratio (%) 683.99%

ment/Current Liabilities
2008 2009
305492 139183 7: Day's sales in account recei
Year 2005
2073259 2987709 Average account receivable 27413
0.15 0.05 Net sales 1322728
Day's sales in account receivable (Days) 7.56
sets-Current Liabilities

2008 2009
966292 787308 8: Account receivable turnover
2073259 2987709 Year 2005
-1106967 -2200401 Net sales 1322728
Average account receivable 27413
Account receivable turnover (Times) 48.25
tios
ost of sales/Inventory
9: Days sales in inventory
2008 2009 Year 2005
150294 68691 Ending inventory -20983
2813309 4340151 Cost of goods sold 936066
18.72 83.18 Days sales in inventory -8.18
13: Return on Assets
Year 2005
Net income 424265
Total assets 4274650
Turnover
return on assets 9.93%
2008 2009
3185418 4853764
7509855 9508720 14: Operating Income Margin
0.42 0.51 Year 2005
Operating income -55208
Net sales 1322728
operating income margin -4.17%

=Sales/Total Assets
17: Sales to Fixed Asset
2008 2009 Year 2005
3185418 4853764 Net sales 1322728
861097 10172589 Total fixed assets 3657284
0.37 0.46 Sales to fixed assets 0.36

ofit/Net sales)*100
2008 2009

-93494 -179971 18: Return On Total Equity


3185418 4853764 Year 2005
-2.94% -3.71% Net income 424265
Preferred stock dividend 0
Total equity 4274650
Return on total equity (%) 9.93%
ng Assets
2008 2009
-93494 -179971

7509855 9508720 19: Gross Profit Margin


-1.24% -1.89% Year 2005
Gross profit 386662
Net sales 1322728
ned Earning Gross profit margin 29.23%
2008 2009
-93494 -179971
0 0
1 1 20: Earning Per Common Shar
Year 2005
Net income 424265
Number of common share outstanding 0
Earning per common share 8

21: Price/Earning Ratio


Year 2005
Market price per common share
Earning per share 3.79
Price/earning ratio 1.17
5. Debt to tangible net worth
2006 2007 2008 2009
6887915 8404996 8610497 10472589
1547466 2926405 2670427 4545316
0 0 0 0
345.11% 187.11% 222.44% 130.40%

4: Debt/equity Ratio
2006 2007 2008 2009
6887915 8404996 8610497 10472589
1547466 2926405 2670427 4545316
345.11% 187.11% 222.44% 130.40%

7: Day's sales in account receivable


2006 2007 2008 2009
82266 27875 64203 112117
2009430 3075922 3185418 4853764
14.94 3.31 7.36 8.43

8: Account receivable turnover


2006 2007 2008 2009
2009430 3075922 3185418 4853764
82266 27875 64203 112117
24.43 110.35 49.01 43.29

9: Days sales in inventory


2006 2007 2008 2009
-21193 -16495 -9235 -11936
1372012 1845284 2813309 4340151
-5.64 -3.26 -1.2 -1
13: Return on Assets
2006 2007 2008 2009
332089 675982 -93494 -179971
6887915 8404996 861097 10172589
4.82% 8.04% -1.09% -1.72%

14: Operating Income Margin


2006 2007 2008 2009
24759 -12601 -4579 118399
2009430 3075922 3185418 4853764
1.23% -0.41% -0.14% 2.44%

17: Sales to Fixed Asset


2006 2007 2008 2009
2009430 3075922 3185418 4853764
6381731 7683391 7510640 9570865
0.31 0.4 0.42 0.51

18: Return On Total Equity


2006 2007 2008 2009
332089 675982 -93494 -179971
0 0 0 0
6887915 8404996 8610497 10472589
6.16% 5.05% 4.93% 4.05%

19: Gross Profit Margin


2006 2007 2008 2009
637418 1230638 372109 513613
2009430 3075922 3185418 4853764
31.72% 40.01% 11.68% 10.58%

20: Earning Per Common Share


2006 2007 2008 2009
332089 675982 -93494 -179971
0 0 0 0
15.3 10.12 1.93 0.11

21: Price/Earning Ratio


2006 2007 2008 2009

2.33 4.16 -0.5 -0.93


1.91 1.07 -8.9 -4.78
Fina

Debt Ratios
18) Debt to Equity Ratio =Total debts/Shareholder's funds

Year 2005 2006 2007 2008


Total Debts 3,729,407 4,637,492 5,478,591 5,940,070
Share Holders' Funds 545,243 1,547,466 2,926,405 2,670,427
Ratio 6.84 3.00 1.87 2.22

19) Debt Ratio =Total Liabilities/Total Assets

Year 2005 2006 2007 2008


Total Liabilities 1,522,549 1,906,904 2,046,868 2,270,734
Total Assets 8,260,511 9,443,822 10,164,509 10,625,625
Ratio 18.43% 20.19% 20.14% 21.37%

Markets Ratios
20) Price/Earning Ratio =Market Price Per Share Of Common Stock/Earning Per Share

Year 2005 2006 2007 2008


Market Price Per Share Of Common Stock 186.30 157.90 192.40 75.90
Earning Per Share 2.12 1.66 3.38 -0.47
Ratio 87.82 95.09 56.92 -162.36
Financial Ratios

Liquidity Ratios
1)Current Ratio =Current Assets/Curren

2009 Year 2005


5,927,273 Current Assets 395,013
4,545,316 Current Liabilities 383,121
1.30 Ratio 1.03

2)Quick Ratio=Current Assets -Inventory/C

2009 Year 2005


2,903,755 Current Assets 395,013
11,007,854 Inventroy 50,809
26.38% Current Liabillities 383,121
Ratio 0.90

3 ) Cash Ratio =Cash +S.T Investment/Cur


Year 2005
g Per Share Cash and Bank 37,199
S.T Investments 0
2009 Current Liabilities 383,121
109.30 Ratio 0.10
-0.90
-121.46
4 ) Net working Capital=Current Assets-Cu
Year 2005
Current Assets 395,013
Current Liabilities 383,121
Net working capital 11,892.00

Activity Ratios
5) Inventory Turnover Ratio =Cost of sal
Year 2005
Cost of sales 936,066
Inventory 50,809
Ratio 18.42

>>Average age of Inventory (Days)=(Inventory


Average age of Inventory 20
6) Debtors Turnover Ratio = Sales/ Averag
Year 2005
Sales 1,322,728
Account Receivables 24,712
Ratio 53.53

>>Average Collection Period =365/Debtor


Average Collection Period 7

7) Creditors Turnover Ratio = Purchasis/ Av


Year 2005
Purchasis 158,082
Account Payables 26,298
Ratio 6.01

>>Average Payment Period =365/Creditors


Average Payment Period 61
8) Operting Cycle= AAI+ACP
Year 2005
Operting Cycle 27

9) Total Asset Turnover Ratio =Sales/T

Year 2005
Sales 1,322,728
Total Assets 4,274,650
Ratio 0.31

10 ) Fixed Asset Turnover Ratio =Net sale


Year 2005
Net sales 1,322,728
Fixed Assets 3,657,284
Ratio 0.36

Profitabilty Ratios
11 )Gross profit ratio =( Gross profit/S
Year 2005
Gross profit 386,662
Sales 1,322,728
Ratio 29.23%
12 ) Operating expense ratio=(Operating expe

Year 2005
Operating expense 148,444
Net sales 1,322,728
Ratio 11.22%

13 )Net profit margin=(Net Profit/Net s


Year 2005
Net Profit 424,265
Net Sales 1,322,728
Ratio 32.07%

14 ) Operating Profit Margin=(Operating Pro


Year 2005
Operating Profit 238,218
Net Sales 1,322,728
Ratio 18.01%

15 ) Earning Per Share=(Earning available for common stockholders


Year 2005
Earning available for common stockholders 424,265
No of shares of common stockholders 200,000
Ratio 2.12

16 ) Return on Investment=(Earning available for commo


Year 2005
Earning available for common stockholders 424,265
Total Assets 4,274,650
Ratio 9.93%

17 ) Return on Common Equity=(Earning available for common s


Year 2005
Earning available for common stockholders 424,265
Common stock Equity 545,243
Ratio 77.81%
Liquidity Ratios
Ratio =Current Assets/Current Liablities

2006 2007 2008 2009


462,683 617,732 966,292 787,308
989,539 1,398,304 2,073,259 2,987,709
0.47 0.44 0.47 0.26

=Current Assets -Inventory/Current Liabilities

2006 2007 2008 2009


462,683 617,732 966,292 787,308
56,825 96,757 150,294 68,691
989,539 1,398,304 2,073,259 2,987,709
0.41 0.37 0.39 0.24

o =Cash +S.T Investment/Current Liabilities


2006 2007 2008 2009
17,529 104,752 305,492 139,183
0 0 0 0
989,539 1,398,304 2,073,259 2,987,709
0.02 0.07 0.15 0.05

g Capital=Current Assets-Current Liabilities


2006 2007 2008 2009
462,683 617,732 966,292 787,308
1,703,806 1,761,218 1,937,662 2,524,426
-1,241,123.00 -1,143,486.00 -971,370.00 -1,737,118.00

Activity Ratios
y Turnover Ratio =Cost of sales/Inventory
2006 2007 2008 2009
1,372,012 1,845,284 2,813,309 4,340,151
56,825 96,757 150,294 68,691
24.14 19.07 18.72 63.18

f Inventory (Days)=(Inventory/Cost of sales)*365


15 19 19 6
urnover Ratio = Sales/ Average receivables
2006 2007 2008 2009
2,009,430 3,075,922 3,185,418 4,853,764
18,944 12,490 29,717 40,124
106.07 246.27 107.19 120.97

ollection Period =365/Debtor Turnover Ratio


3 1 3 3

urnover Ratio = Purchasis/ Average payables


2006 2007 2008 2009
220,120 284,611 515,976 702,786
80,585 78,590 67,500 29,594
2.73 3.62 7.64 23.75

yment Period =365/Creditors Turnover Ratio


134 101 48 15
8) Operting Cycle= AAI+ACP
2006 2007 2008 2009
19 21 23 9

sset Turnover Ratio =Sales/Total Assets

2006 2007 2008 2009


2,009,430 3,075,922 3,185,418 4,853,764
6,887,915 8,404,996 8,610,497 10,472,589
0.29 0.37 0.37 0.46

set Turnover Ratio =Net sales/Fixed Assets


2006 2007 2008 2009
2,009,430 3,075,922 3,185,418 4,853,764
6,381,731 7,683,391 7,510,640 9,570,865
0.31 0.40 0.42 0.51

Profitabilty Ratios
s profit ratio =( Gross profit/Sales)*100
2006 2007 2008 2009
637,418 1,230,638 372,109 513,613
2,009,430 3,075,922 3,185,418 4,853,764
31.72% 40.01% 11.68% 10.58%
pense ratio=(Operating expense/Net sales)*100

2006 2007 2008 2009


243,499 297,567 556,550 1,087,627
2,009,430 3,075,922 3,185,418 4,853,764
12.12% 9.67% 17.47% 22.41%

profit margin=(Net Profit/Net sales)*100


2006 2007 2008 2009
332,089 675,982 -93,494 -179,971
2,009,430 3,075,922 3,185,418 4,853,764
16.53% 21.98% -2.94% -3.71%

Profit Margin=(Operating Profit/Net sales)*100


2006 2007 2008 2009
393,919 933,071 -184,441 -574,014
2,009,430 3,075,922 3,185,418 4,853,764
19.60% 30.33% -5.79% -11.83%

ble for common stockholders/No of shares of common stockholders)


2006 2007 2008 2009
332,089 675,982 -93,494 -179,971
200,000 200,000 200,000 200,000
1.66 3.38 -0.47 -0.90

Earning available for common stockholders/Total Assets)


2006 2007 2008 2009
332,089 675,982 -93,494 -179,971
6,887,915 8,404,996 8,610,497 10,472,589
4.82% 8.04% -1.09% -1.72%

arning available for common stockholders/Common Stock Equity)


2006 2007 2008 2009
332,089 675,982 -93,494 -179,971
1,547,466 2,926,405 2,670,427 4,545,316
21.46% 23.10% -3.50% -3.96%
Charts

Liquidity Ratio
Liquidity Ratio
1.20 Row 22
Row 12
1.00
1.00
0.80
0.80
0.60
0.60
Ratio

Ratio
0.40
0.40
0.20
0.20
0.00
0.00
2005 2006 2007
2005 2006 2007 2008 2009
Year
Year
Liquidity Ratio Liquidity Ratio
0.16
Row 30
Row 22
0.14
0.12
0.10

Ratio
0.08
0.06
0.04
0.02
0.00
2005 2006 2007 2008 2009
2005 2006 2007 2008 2009
Year
Year
Liquidity Ratio
Row 30 Row 37

500,000.00

0.00
Rupees '000'

-500,000.00

-1,000,000.00

-1,500,000.00

08 2009 -2,000,000.00
2005 2006 2007 2008 2009
year
Activity Ratio
Row 50
Activity Ratio

25 8
7
20 6
5
15

Days
4
Days

3
10
2
5 1
0
0 2005 2006
2005 2006 2007 2008 2009
Activity Ratio Activity Ratio
8 160
7 140
6 120
5 100
Days

Days
80
Row 61 Ro
3 60
2 40
1 20
0 0
2005 2006 2007 2008 2009 2005 2006 2007 2008 2009
Year Year
y Ratio Activity Ratio
30 Row 76
25
20

Days
15
Row 72
10
5
0
7 2008 2009 2005 2006 2007 2008 2009
Year
Activity Ratio
Activity Ratio
0.50 0.60

0.40 0.50

0.40

Ratio (Times)
0.30
Ratio

Row 83 0.30
0.20
0.20
0.10
0.10
0.00 0.00
2005 2006 2007 2008 2009 2005 2006 2007 2008 200
Year Year
Profitabiltiy Ratios
Activity Ratio Profitability Ratio
50.00% Row 99
40.00%

30.00%

Ratio (%)
Row 90 20.00%

10.00%

0.00%
2005 2006 2007 2008 2009
2006 2007 2008 2009
Year
Year
Profitability Ratio
Row 114
40.00%
Row 99
40.00% 30.00%

30.00% 20.00%

Ratio (%)
20.00% 10.00%
Ratio (%)

10.00% 0.00%
0.00% -10.00%
-10.00% -20.00%
2008 2009 2005 2006 2007 2008 2009 2005
Year
Profitability Ratio Profitability Ratio
40.00% Row 10
25.00%
30.00%

20.00% 20.00%
Ratio (%)

10.00%
15.00%

Ratio (%)
0.00%
10.00%
-10.00%

-20.00% 5.00%
2005 2006 2007 2008 2009

0.00%
2005 2006 2007 2008
bility Ratio Profitability Share
Row 106 Row 130 12.00%

4.00 10.00%
8.00%
3.00
6.00%
2.00

Ratio (%)
Ratio (Rs.)

4.00%
1.00
2.00%
0.00 0.00%
-1.00 -2.00%
-2.00 -4.00%
2007 2008 2009 2005 2006 2007 2008 2009
Profitability Ratio Profitability Ratio
12.00% Row 138 90.00%
10.00% 80.00%
70.00%
8.00%
60.00%
6.00% 50.00%
Ratio (%)

Ratio (%)
4.00% 40.00%
2.00% 30.00%
20.00%
0.00%
10.00%
-2.00% 0.00%
-4.00% -10.00%
2005 2006 2007 2008 2009 2005 2006 2007
Profitability Ratio Debt Ratio
Row 146 8.00
7.00

Debt Ratios
6.00

Ratio (Times)
5.00
4.00
R
3.00
2.00
1.00
0.00
2005 2006 2007 2008 2009
Year

05 2006 2007 2008 2009


bt Ratio Debt Ratio
Row 21
30.00%
25.00%
20.00%
Row 12 Ratio (%)
15.00%
10.00%
5.00%
007 2008 2009
0.00%
2005 2006 2007 2008 2009