Introduction of FFBL:

Fauji Fertilizer Bin Qasim Limited Company:

Fauji Iertilizer Bin Qasim Limited is a public Limited Company and one oI the top 25 companies
oI Pakistan .It was incorporated in 1993 under the name oI Fauji Jordan Fertilizer Company
Limited (FJFC).
The plant site oI Fauji Fertilizer Bin Qasim Limited is situated in Karachi at Bin Qasim port that
produced,
&70,7,3:,7
P
mmonia
The plant was built at a cost oI US$468 Million and it head oIIice is situated at Harley Street,
Rawalpindi.
t starting in 1993, its name was FFC-Jordan Fertilizer Company (FJFC) at that time FFC had
30, FF 10 and JPMC had 10 shares oI the company.
t 1996, Company Iormally listed with stock exchange and its started its production in 2000,
In 2003, Jordan Phosphate Mines Company one oI the sponsors, sold its entire equity and at that
time Company was renamed as Fauji Fertilizer Bin Qasim Limited Company (FFBL).
Now the major share holders oI the company are:

Fauji Fertilizer Limited Company (FFC) with 51
shares
Fauji Foundation (FF) with 17 shares
ll the policies, strategies are made by the FFC, and we can say that FFBL is subsidiary
company oI FFC.



on Financial Analysis of FFBL:
SWOT AALYSIS
STRETHS
ManuIacturing & Quality highlights
The major landmark Ior Fauji Fertilizer Bin Qasim Company is ISO-9002 certiIication Ior its
manuIacturing division. Quality in all areas has been a hallmark oI the Company right Irom the
beginning and our product "SON URE" has already established its rightIul place in the
market.
Location
Being located near sea port; FFBL enjoys an ease in transportation oI raw material. Phosphoric
acid and UF-85 are the major raw materials that are being imported through shipments.
Safety & Health
FFBL maintains a saIe workplace by Iollowing saIety and health rules and practices. ccidents,
injuries, and unsaIe equipment, practices or conditions are immediately reported to a supervisor
or other designated person. FFBL is committed to keep the work place Iree Irom hazards.
Share`s value highlights
The share value also shows the strength oI any organization. The share value oI this company
states the strength oI this company.
Marketing highlights
FFBL with its parent company FFC is a leading manuIacturing company with over 60 shares
oI urea manuIacturing and marketing in Pakistan.
O 8th Position In 2005
TOP 25 COMPNIES KSE RS BSE ON PERFORMNCE
In 1991, the company was listed on Karachi and Lahore Stock Exchanges and in 1992 on
Islamabad Stock Exchange when it was Iormed. Shares were oIIered to the public and company
employees. In 1993/94 FFC achieved the distinction oI paying the highest income tax in the
country Based on the exemplary dividends to the shareholders and other criteria oI Karachi Stock
Exchange, FFC has consistently remained in the list oI top 25 best perIorming companies oI
Pakistan consecutively Ior 12 years since 1994. s a result oI excellent perIormance over the
years, the company's ranking in the Karachi Stock Exchange list oI 25 companies improved Irom
IiIth position in 1995 to second in 1996, it was awarded the Iirst position in 1997 and again
second prize in 1998.
UseIul links:
O Fertilizer ssociation oI India
O International Fertilizer evelopment Center
O National Fertilizer evelopment Center
O The Fertilizer Institute
O The International Fertilizer Society
O rab Fertilizer ssociation
O International Fertilizer Industry ssociation

Enhancing production capacity
This organization Revamp its plants Ior three months in every year in order to enhance its
productivity. uring the last three years it has increased its production capacity Irom 100 to
165.
Employees beneIits schemes
O Provident Fund
O ratuity Fund
O Pension Fund
O Perquisites
elIare projects highlights
FFC is the main company oI 'FUJI FOUNTION. It contributes a lot to the Iollowing
institutions
O Fauji Foundation ,The Head.
O Fauji Foundation Hospitals
O Fauji Foundation School, Colleges, Medical Colleges & University

EKNESSES
1- The co. has up to date communication process but there are some draw backs which
discourages the personal development oI the employees.
21here ls no proper dresslng no lmpresslve envlronmenL wlLh ln organlzaLlon communlcaLlon
aL low level
3- Costly products, Urea, i-mmonium phosphate (P) & mmonia.
4- iIIiculties to invite the Ioreign parties due political crises in Pakistan.
5- iIIicult to acquire chemicals Irom France, Singapore, UK, US & UE.
6- The organization`s hiring policy leave some loop holes.
7- lthough it acquired 400 acres land yet does not have proper oIIice building. There is no
shortage oI Iunds.
8- It should reduce the inIluence oI the RMY in this company.
9- FFBL doesn`t have its own marketing department; their products are being marketed by FFC
due to which they get their revenue aIter a week. It may also aIIect their sales due priority base.
OPPORTUITIES
1- The Iertilizer is the main industry in the country & its importance is increasing day by day.
The overnment has to import Fertilizer Irom Ioreign countries. So FFBL needs to construct its
more plant in the country.
2- It should create more employment opportunities Ior proIessionals, considering the
unemployment in the country.
3- FFBL should conduct more social beneIits projects Ior Iarmers and try to take part in giving
land Ior cultivation to Iarmers. It would increase its Iertilizer demand in the country.


THREATS
1- It has threats Irom government on environment & saIety grounds.
2- Increased prices oI raw material importing Irom abroad.
3- There involved more non-proIessional ex-armed people in this organization.
4- Its Competitors such as Engro Fertilizer Co and Fatima Fertilizer Co. are also capturing the
market share






PEST NLYSIS
Political factors
Political instability, slow economic growth, rising poverty, abysmal social indicators, sectarian
violence, weak public institutions, and a steadily waning conIidence is prevailing in the
government.
Stressing the great promise oI Pakistan`s economy during the 1960s, the Iactors contributing to a
Iailed take oII into selI-sustained and equitable growth. Poor leadership Iailed to stress the rule
oI law and the necessity oI strong, yet transparent, public institutions. emocratic leaders were
particularly unsuccessIul in implementing the Iiscal policy adjustments required to make the
country more selI-reliant. FFBL work under the rmy, so it is eIIected by the rmy and Military
rules while military rulers were reluctant to open the political process, they were Iar less arbitrary
in governance and generally pursued economic reIorms more IorceIully. The protracted
government protections oIIered to Pakistani industries prevented the modernization oI an
industrial and export inIrastructure. There is no check and balance on employees because all the
managers are sitting inside the rooms and all the employees are sitting outside the rooms so they
can not check them due to rmy and Political inIluences. FFBL is Iacing lot oI diIIiculties in
inviting the Ioreign parties due to political crises in Pakistan.
Economic
ue to bad economic climate such as electricity breakdown, unavailability oI raw material and
oil crises FFBL is eIIected harshly. In addition, the Pakistani government had not managed the
country`s agricultural sector properly and has Iailed to invest in the power sector. For instance,
the government maintains insuIIicient buIIer stock and it has no Iund to manage the import and
export oI agricultural commodities so FFBL is Iacing a lot oI diIIiculties in exporting the
products .The poor management oI the agricultural sector is Iurther compounded by the
smuggling oI wheat into Ighanistan. dditionally, the Pakistani government has not carried out
a serious analysis oI the impact oI the country`s economic growth on the increased demand Ior
energy.
ue to bad Pakistani currency instability, shares prices are going down. Urea and P
production at FFBL largely depends upon the imports oI raw material including Phosphoric acid,
sulIuric acid, sand, coating oil. This increases their reliance on imports and now it is so much
costly and diIIicult to acquire chemicals Irom France, Singapore, UK, and US & UE.
Social factors
The target market oI FFBL consists oI rural population and the government oI Pakistan and also
FFBL has launched many awareness campaigns in order to make Iarmers able to have more and
more production. FFBL ha has created a very dynamic market Ior Iertilizers and now IT is
enjoying Iull social support. It has announced several CSR programs e.g. Human evelopment
Foundation (HF), onation Ior Ilood eIIectees, Flood relieI campus, to improve literacy,
education, saIe drinking water etc.
Technological factors he views expressed herein are those oI the consultant and do
The agriculture sector is a dominant source oI growth and development oI Pakistan`s economy.
It contributes nearly a quarter oI the gross domestic product and over halI oI export earnings,
employs nearly 45 oI the labor Iorce, and provides income to nearly two thirds oI the rural
population. In addition to the main Iood commodities, agriculture provides raw material to agro-
based industries and generates Ioreign exchange through export oI raw and Iinished goods. In the
last 20 years, the average annual growth rate oI agricultural output is estimated at about 4, with
a lower rate (3) in the last 5 years. In the last decade, the agriculture sector has experienced a
Iall in the growth rate and high level oI instability due to a number oI Iactors, including
inclement weather, pest attacks, water shortage, structural imbalances, and institutional
constraints. There is also evidence that the growth process in agriculture has had little eIIect on
rural poverty and may have increased income inequality between rural households and regions.
NonIarm activities have become a substantial source oI income Ior agricultural households,
especially those with little land oI quality or no land.

Credibility of Company:

The company has very good reputation over the market.
Through its goodwill and Iinancial strength and commitment oI repayment on timely basis there
are number oI Iinancial institutions in Pakistan which are providing loans and Iinancial services
on a very economical interest rates, commission rates, charges on services provided, as compare
with the other organizations.
On the other hand company also enjoys very handsome rates on its deposits maintain with the
banks.
Sources of Credit
O Banks
O Foreign Suppliers
O Foreign Banks
O Local Suppliers
O overnment
O Leasing Companies
Banks
There are number oI banks that are providing short-term loans, long-term loans and other
Iinancial services to the company.

Short Term Loans
Short term loans are those loans which are given Ior one or less than one year.
List of Banks Providing Short Term Loans
1.Habib Bank Limited
2.Muslim Commercial Bank Limited
3.United Bank Limited
4.skari Commercial Bank Limited
5.National Bank oI Pakistan
KIBOR Rates Plus 200 Basis Points
Long Term Loans
Long-term loans are those loans that are given Ior Iive to twenty years.
List oI Banks Providing Long Term Loans
1.Standard Chartered Bank
2.skari Commecial Bank
3.Saudi Pak Commercial Bank Limited
4.Muslim Commercial Bank Limited
5.Habib Bank Limited
6.Faysal Bank Limited
7.NIB Commercial Bank Limited
Treasury Bill Rates 9.5 (Change Yearly)
Securities against Short Term & Long Term Loans
O Undertakings
O Mortgage
O Pledge
O Hypothecation
O Promissory Notes
eposits in Banks
O Barclays Bank
O Silk Bank Limited
O Bank oI Punjab
O l Baraka Islamic Bank
O NIB
O Soneri Bank Limited
O Bank l Falah Limited
O ubai Islamic Bank Limited
O Habib Metropolitan Bank
O Bank l Habib Limited
O BN MRO (RBS)
O Standard Chartered Bank
O City Bank
O Faysal Bank Limited
O Habib Bank Limited
O Hong Kong Shanghai Banking Corporation
O United Bank Limited
O Muslim Commercial Bank Limited
Rate oI Interest on eposits
From 1.6 to 11.5
Foreign Suppliers
Company is importing diIIerent kind oI Spare Parts, Raw Material, Plant & Machinery and
Phosphoric cid Irom diIIerent countries Ior its Urea / P Plant based in Karachi.
lso Company is Exporting scrap items to many countries.
For this purpose transactions are made in three modes:-
1. Letters oI Credit
2. Telegraphic TransIers
3. emand raIts
Letters Of Credit
Letters oI Credits are established in Iavor oI the beneIiciary on behalI oI applicant. The bank acts
as an agent in this transaction and charge amount on account oI services provided.


There are Iive main Parties involved in Letter oI Credit.
1. pplicant
2. pplicant`s Bank
3. BeneIiciary
4. BeneIiciary`s Bank
5. Reimbursement Bank

irectors report:
P plant by the grace oI lmighty llah achieved yet another record year oI best ever
production oI 660 thousand tones. This is 22 better than last year. Though the overall
perIormance oI all plants remained satisIactory, yet mmonia and Urea production during the
year were lower than last year by 6 and 16 respectively. This was mainly due to running oI
both plants at low loads owing to natural gas curtailment going on unabated since pril 2010.

Sales performance:
FFBL Sona Urea () sales during Jan-ec, 2010 were 524 thousand tones showing an
achievement oI 86 against the targets. These sales were 16 lower as compared to the sales oI
627 thousand tonnes during the same period oI 2009. Sona Urea () sales were limited to
product availability. Sona P sales during Jan-ec, 2010 were 657 thousand tonnes showing
an achievement oI 109 against the targets. These sales were 7 lower as compared to 709
thousand tones sales oI the same period oI 2009. uring Jan-ec, 2010 FFBL share in Urea and
P market is estimated at 8.6 and 49.5 respectively.

Auditors` Report:
e have audited the annexed balance sheet oI Fauji Fertilizer Bin Qasim Limited (``the
Company) as at
ecember 31, 2010 and the related proIit and loss accounts, statement oI comprehensive income,
cash Ilow statement, and statement oI changes in equity together with the notes Iorming part
thereoI, Ior the year then ended and we state that we have obtained all the inIormation and
explanations which, to the best oI our knowledge and belieI, were necessary Ior the purposes oI
our audit. It is the responsibility oI the Company's management to establish and maintain a
system oI internal control, and prepare and present the above said statements in conIormity with
the approved accounting standards and the requirements oI the Companies Ordinance, 1984. Our
responsibility is to express an opinion on these statements based on our audit.
e conducted our audit in accordance with the auditing standards as applicable in Pakistan.
These standards require that we plan and perIorm the audit to obtain reasonable assurance about
whether the above said statements are Iree oI any material misstatement. n audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the above said
statements. n audit also includes assessing the accounting policies and signiIicant estimates
made by management, as well as, evaluating the overall presentation oI the Iinancial statements.
e believe that our audit provides a reasonable basis Ior our opinion and, aIter due veriIication,
we report that:
(a) In our opinion, proper books oI account have been kept by the Company as required by the
Companies Ordinance, 1984;
(b) In our opinion-
(i) The balance sheet and proIit and loss account together with the notes thereon have been
drawn up in conIormity with the Companies Ordinance, 1984 and are in agreement with the
books oI account and are Iurther in accordance with accounting policies consistently applied;
(ii) The expenditure incurred during the year was Ior the purpose oI the Company's business; and
(iii) The business conducted, investments made and the expenditure incurred during the year
were in accordance with the objects oI the Company.
(c) In our opinion and the to the best oI our inIormation and according to the explanations given
to us, the balance sheet, proIit and loss account, statement oI comprehensive income, cash Ilow
statement and statement oI changes in equity together with the notes Iorming part thereoI
conIorm with the approved accounting standards as applicable in Pakistan, and give the
inIormation required by the Companies Ordinance, 1984, in the manner so required and
respectively give a true and Iair view oI the state oI the Company's aIIairs as at ecember 31,
2010 and oI the proIit, its cash Ilows and changes in equity Ior the year then ended; and
() in our opinion, Zakat deductible at source under the Zakat and Ushr Ordinance, 1980 (XVIII
oI 1980) was deducted by the Company and deposited in Central Zakat Fund established under
section 7 oI that Ordinance.

Financial Analysis:
Financial Highlights
The summary of key financial results showing the Company`s to-date best performance:-

Turnover 43,257 36,725
ross proIit 13,463 9,665
ProIit beIore tax 9,686 5,808
Net proIit aIter tax 6,514 3,784
Earnings per share (Rs) 6.97 4.05

2010 is the year where Company proIitability has witnessed record level with aggregate sales
revenue oI Rs 43.2 billion, an impressive growth oI 18 over last year. The enhancement in
revenue is attributable primarily to improved P margins. P and Urea sales accounted Ior
20 and 80 oI total revenue respectively as compared to 76 and 24 in 2008. The ross
proIit at Rs 13.5 billion has earned a margin oI 31. This is better than last year`s margin oI
26.3 mainly on account oI better P margins during the year. Company`s total Iinance cost
was recorded at Rs 934 million, showing an improvement oI 36 comparing last year owing to
improved liquidity position resulting in reduced utilization oI borrowed Iunds. Other income oI
Rs 1,152 million was mainly on account oI income on bank deposits and mutual Iund amounting
Rs 994 million and share oI proIit oI PMP amounting Rs 118 million Ior the 12 months period
Oct 2009 - Sep 2010. ProIit beIore tax was recorded at Rs 9,686 million, higher by 67 as
compared to last year. Iter tax net proIit, arrived at Rs 6,514 million at 31 ec 2010, higher by
72 comparing last year proIit. The Company`s Earnings per share (EPS), thereIore, reached Rs
6.97, Irom an EPS oI Rs 4.05 oI last year.
Fiscal Review

There were no changes to the Company's approach to capital management during the year and
the Company is not subject to externally imposed capital requirements. In order to achieve our
goals Ior the betterment oI this Company and to the overall economy oI Pakistan, we shall
continue to explore and tap opportunities, Iace challenges wherever required. overnment
policies, global & domestic economic Iorces and the money market would play a vital role in our
decisions and ability to meet business objectives.

Capital Management:

The Company has placed an eIIective Cash Flow Management System whereby cash inIlows and
outIlows are projected on regular basis, repayments oI all long term and short term loans dues
have been duly accounted Ior. orking capital requirements have been planned to be Iinanced
through internal cash generations and short term borrowings Irom external sources where
necessary

Risk Mitigation:
Variety oI risks including liquidity, credit, market and other risks are being eIIectively managed
by the Company.

Liquidity Risk:
Liquidity risk is the risk oI being unable to accommodate liability maturities, Iund asset growth
and meet contractual obligations through access to Iunding at reasonable market rates. The
Company's treasury aims at maintaining Ilexibility in Iunding by keeping committed credit lines.

CEIT Risk:
Credit risk is the risk oI Iinancial loss arising Irom a customer or counterparty Iailure to meet its
contractual obligations. ll Iinancial assets oI the Company, except cash in hand, are subject to
credit risk. The Company believes that it is not exposed to major concentration oI credit risk.
Exposure is managed through application oI credit limits to its customers secured by bank
guarantees and diversiIication oI investment portIolio placed with banks and Iinancial
institutions having high.


Accounting Policies:
ccounting policies have been consistently applied in preparation oI Iinancial statements and
accounting estimates are based on reasonable and prudent judgment. Proper books oI accounts
have been maintained. International ccounting Standards as applicable in Pakistan have been
Iollowed in the preparation oI Iinancial statements.
Transactions undertaken with related parties during the Iinancial year are ratiIied by the udit
Committee and then approved by the Board oI irectors. mounts or appropriate proportions oI
outstanding items pertaining to the related parties and provision Ior doubtIul debts and
receivables Irom such parties, as at the balance sheet date, are disclosed in the Iinancial
statements.

Calculation of Ratio for the year 2008

Operating
ross Margin ross ProIit

9,098,407

35.71

Net Sales 25,481,121

Pre Tax Margin Net ProIit BeIore Tax

7,214,336

28.31

Net Sales 25,481,121

et Margin Net ProIit Iter Tax

4,897,336

19.22

Net Sales 25,481,121


Performance

Return on Assets Net ProIit BeIore Tax

7,214,336

25.36

Total ssets 28,449,139

Total Assets
Turnover

Net Sales

25,481,121


0.90

Total ssets 28,449,139

Fixed Assets
Turnover

Net Sales

25,481,121


2.77

Fixed ssets

9,184,727

Inventory
Turnover

Cost oI oods Sold

16,382,714


20.53
Times
verage Inventory

797,870

ebtors Turnover
Net Sales

25,481,121


24.65
Times
verage ebtors

1,033,725

Inventorys
Turnover

vg Inventory X 365




-
ays
Cost oI oods Sold 16,382,714

ebtors Turnover vg debtors X 365
1,033,725 X
365

15
ays
Net Sales 25,481,121

Return on Equity Net ProIit Iter Tax

4,897,336

39.36

Total Equity 12,440,908

Return on Capital
Employed
Net ProIit Iter Tax

4,897,336

36.49

Capital 13,421,986


Leverage

ebt : Equity Long term debt

981,078 7
Total Equity 12,440,908 93

Interest Coverage
Ratio

Net ProIit BeIore Interest &
Tax


7,214,336


22.61

Total Interest Payments

319,012


Liquidity

Current
Current ssets

11,464,577


0.91

Current Liabilities 12,626,153

Quick
Quick ssets

8,749,787


0.69

Current Liabilities 12,626,153

Cash ratio
Cash


1,055,830


1.00

Current Liabilities

1,055,830

Valuation

Earning Per Share
(after tax)

Net ProIit Iter Tax


4,897,336


9.92
Rs
No. oI Ordinary Shares

493,474

Earning Per Share
(pre tax)

Net ProIit BeIore Tax


7,214,336


14.62
Rs
Calculation of Ratio for the year 2009

Operating
ross Margin
ross ProIit

9,708,679
32.42
Net Sales 29,950,873






Pre Tax Margin
Net ProIit BeIore Tax

6,985,144
23.32
Net Sales 29,950,873

et Margin
Net ProIit Iter Tax

4,636,144
15.48
Net Sales 29,950,873
No. oI Ordinary Shares

493,474


ividend Per
Share

Total ividend


4,807,501


9.74
Rs
No. oI Ordinary Shares

493,474

Payout Ratio
ividend Per Share


9.74


66.62

Earning Per Share

14.62

Price Earning
Ratio

Market Value Per Share


137.00


13.81

Earning Per Share

9.92

Performance

Return on Assets
Net ProIit BeIore Tax

6,985,144
25.47
Total ssets 27,430,281

Total Assets
Turnover

Net Sales

29,950,873
1.09

Total ssets 27,430,281

Fixed Assets
Turnover

Net Sales

29,950,873
3.12

Fixed ssets 9,607,957

Inventory Turnover
Cost oI oods Sold

20,242,194
26.75 Times
verage Inventory 756,689

ebtors Turnover
Net Sales

29,950,873
36.95 Times
verage ebtors 810,570

Inventorys Turnover
vg Inventory X 365

756,689X 365
14 ays
Cost oI oods Sold 20,242,194

ebtors Turnover
vg debtors X 365

810,570 X 365
10 ays
Net Sales 29,950,873

Return on Equity
Net ProIit Iter Tax

4,636,144
35.78
Total Equity 12,956,543

Return on Capital
Employed

Net ProIit Iter Tax

4,636,144
32.76
Capital 14,150,293

Leverage

ebt : Equity
Long term debt

1,127,615

8
Total Equity 12,956,543 92

Interest Coverage
Ratio

Net ProIit BeIore Interest & Tax

6,985,144
14.70

Total Interest Payments 475,226

Liquidity

Current
Current ssets

9,764,587
0.90

Current Liabilities 10,883,988

Quick
Quick ssets

6,609,629
0.61

Current Liabilities 10,883,988

Cash ratio
Cash

1,623,229
0.15

Current Liabilities 10,883,988

Valuation

Earning Per Share
(pre tax)

Net ProIit BeIore Tax

6,985,144
14.16 Rs
No. oI Ordinary Shares 493,474

Earning Per Share
(after tax)

Net ProIit Iter Tax

4,636,144
9.39 Rs
No. oI Ordinary Shares 493,474

ividend Per Share Total ividend 3,010,192 6.10 Rs
No. oI Ordinary Shares 493,474

Payout Ratio
ividend Per Share

6.10
64.96
Earning Per Share 9.39

Price Earning Ratio
Market Value Per Share

105.55
11.24
Earning Per Share 9.39

Calculation of Ratio for the year 2010


KEY
IICATORS


Operating
ross Margin
ross ProIit

10,117,480
35.59
Net Sales 28,429,005

Pre Tax Margin
Net ProIit BeIore Tax

7,814,953
27.49
Net Sales 28,429,005






Net ProIit Iter Tax 5,360,953
et Margin Net Sales


28,429,00
5



1
8
.
8
6

Performance

Return on Assets
Net ProIit BeIore Tax

7,814,953
26.73
Total ssets 29,241,214

Total Assets Net Sales 28,429,005 0.97
Turnover Total ssets 29,241,214

Fixed Assets
Turnover

Net Sales

28,429,005
2.74

Fixed ssets 10,390,490

Inventory
Turnover

Cost oI oods Sold

18,311,525
22.95 Times
verage Inventory 797,870

ebtors Turnover
Net Sales

28,429,005
21.18 Times
verage ebtors 1,342,015

Inventorys
Turnover

vg Inventory X 365

797,870 X 365
16 ays
Cost oI oods Sold 18,311,525

ebtors Turnover vg debtors X 365
1,342,015 X
365 17 ays
Net Sales 28,429,005

Return on Equity
Net ProIit Iter Tax

5,360,953
42.11
Total Equity 12,730,045

Return on Capital
Employed

Net ProIit Iter Tax

5,360,953
34.81
Capital Employed 15,401,295

Leverage

ebt : Equity
Long term debt

2,605,115

17
Total Equity 12,730,045 83

Interest Coverage
Ratio

Net ProIit BeIore Interest &
Tax 7,814,953 11.92
Total Interest Payments 655,666

Liquidity

Current
Current ssets

10,811,435
0.94

Current Liabilities 11,476,393

Quick
Quick ssets

7,760,611
0.68

Current Liabilities 11,476,393

Cash ratio
Cash

1,350,000
0.12

Current Liabilities 11,476,393

Valuation

Earning Per Share
(after tax)

Net ProIit Iter Tax

5,360,953
10.86 Rs
No. oI Ordinary Shares 493,474

Earning Per Share
(pre tax)

Net ProIit BeIore Tax

7,814,953
15.84 Rs
No. oI Ordinary Shares 493,474

ividend Per
Share

Total ividend

3,701,056
7.50 Rs
No. oI Ordinary Shares 493,474

Payout Ratio
ividend Per Share

7.50
69.06
Earning Per Share 10.86

Price Earning
Ratio

Market Value Per Share

118.75
10.93
Earning Per Share 10.86