Presentation by

Hira Khurshid
Ghulam Mustafa
Madiha Hafeez
Anam Javaid
Introduction

 Pakistan ranked 5th in the world cement

exports
 Cement constituted 47 % of the exports
during the fiscal year 2010
 exported 11 million tones of cement
…continued

 High demand in neighboring countries

 Including India

 High local demand

 Reconstruction of buildings, homes, shops and
schools in devastated area of Swat and
Malakand after Military operation.
…continued

 Growth of Cement Industry

 Record Public Sector Development
Programme allocation (Rs 621 billion) in the
budget FY10
 reduction in excise duty by Rs 10 per bag

 Fauji Cement claimed 100%

capacity utilization during FY10
Financial Analysis

3 leading cement producers

 Bestway Cement
 Fauji Cement
 Lucky Cement
Bestway Cement

2005-06 0. 76
2006-07 0. 82
2007-08 0. 70
2008-09 0. 65
2009-10 0. 52
Bestway Cement

2005-06 14. 98
2006-07 15. 94
2007-08 8. 88
2008-09 9. 51
2009-10 14. 72
Bestway Cement

2005-06 26. 67
2006-07 27. 97
2007-08 58. 10
2008-09 52. 08
2009-10 32. 48
Bestway Cement

2005-06 41.0
2006-07 43.91
2007-08 64.31
2008-09 61.09
2009-10 46.31
Bestway Cement

2005-06 0. 25
2006-07 0. 25
2007-08 0. 29
2008-09 0. 52
2009-10 0. 47
Bestway Cement

2005-06 2. 72
2006-07 3. 08
2007-08 2. 71
2008-09 2. 44
2009-10 3. 01
Bestway Cement

2005-06 45.0
2006-07 39.0
2007-08 38.0
2008-09 41.0
2009-10 52.0
Bestway Cement

2005-06 50. 48
2006-07 17. 93
2007-08 13. 47
2008-09 32. 20
2009-10 13. 27
Bestway Cement

2005-06 6. 80
2006-07 0. 23
2007-08 0. 66
2008-09 3. 45
2009-10 4. 30
Bestway Cement

2005-06 0. 58
2006-07 3. 51
2007-08 4. 37
2008-09 3. 17
2009-10 3. 71
Bestway Cement

2005-06 7. 50
2006-07 10. 00
2007-08 10. 00
2008-09 10. 00
2009-10 0. 00
Fauji Cement

2005-06 1.25
2006-07 1.35
2007-08 2.16
2008-09 0.81
2009-10 0.63
Fauji Cement

2005-06 8.73
2006-07 9.21
2007-08 9.55
2008-09 7.67
2009-10 10.2
Fauji Cement

2005-06 60.55
2006-07 61.22
2007-08 59.23
2008-09 20.16
2009-10 40.11
Fauji Cement

2005-06 68.93
2006-07 71.08
2007-08 68.93
2008-09 27.96
2009-10 50.22
Fauji Cement

2005-06 0.69
2006-07 0.54
2007-08 0.96
2008-09 0.56
2009-10 0.65
Fauji Cement

2005-06 0.60
2006-07 0.38
2007-08 0.30
2008-09 0.29
2009-10 0.50
Fauji Cement

2005-06 254.0
2006-07 58.0
2007-08 141.0
2008-09 39.0
2009-10 42.0
Fauji Cement

2005-06 51.12
2006-07 31.52
2007-08 18.56
2008-09 31.75
2009-10 13.54
Fauji Cement

2005-06 19.42
2006-07 10.10
2007-08 3.32
2008-09 4.70
2009-10 0.93
Fauji Cement

2005-06 3.21
2006-07 1.73
2007-08 0.85
2008-09 1.43
2009-10 0.31
Fauji Cement

2005-06 1.6
2006-07 1.2
2007-08 1.1
2008-09 2.1
2009-10 1.9
Lucky Cement

2005-06 0.93
2006-07 0.85
2007-08 0.81
2008-09 0.72
2009-10 0.66
Lucky Cement

2005-06 18.66
2006-07 18.51
2007-08 17.65
2008-09 18.33
2009-10 14.39
Lucky Cement

2005-06 89.10
2006-07 70.19
2007-08 62.00
2008-09 60.72
2009-10 58.32
Lucky Cement

2005-06 107.93
2006-07 88.19
2007-08 79.83
2008-09 78.53
2009-10 73.25
Lucky Cement

2005-06 0.42
2006-07 0.61
2007-08 0.56
2008-09 0.36
2009-10 0.65
Lucky Cement

2005-06 3.25
2006-07 2.97
2007-08 3.1
2008-09 2.93
2009-10 1.8
Lucky Cement

2005-06 69.0
2006-07 54.0
2007-08 39.0
2008-09 50.0
2009-10 43.0
Lucky Cement

2005-06 24.22
2006-07 20.3
2007-08 19.31
2008-09 20.32
2009-10 24.01
Lucky Cement

2005-06 8.19
2006-07 9.9
2007-08 19.31
2008-09 25.20
2009-10 12.01
Lucky Cement

2005-06 3.14
2006-07 7.35
2007-08 9.67
2008-09 9.84
2009-10 14.01
Lucky Cement

2005-06 1.50
2006-07 1.0
2007-08 1.5
2008-09 2.2
2009-10 3.1
 Analysis (Comparison)
 Current Ratio

Bestway Fauji Lucky

2005-06 0. 76 1.25 0.93
2006-07 0. 82 1.35 0.85
2007-08 0. 70 2.16 0.81
2008-09 0. 65 0.81 0.72
2009-10 0. 52 0.63 0.66
 Analysis (Comparison)
 Inventory
 Turnover

Bestway Fauji Lucky

2005-06 14. 98 8.73 18.66
2006-07 15. 94 9.21 18.51
2007-08 8. 88 9.55 17.65
2008-09 9. 51 7.67 18.33
2009-10 14. 72 10.2 14.39
 Analysis (Comparison)
 Account
 Receivable
 Turnover

Bestway Fauji Lucky

2005-06 26. 67 60.55 89.10
2006-07 27. 97 61.22 70.19
2007-08 58. 10 59.23 62.00
2008-09 52. 08 20.16 60.72
2009-10 32. 48 40.11 58.32
 Analysis (Comparison)
 Operating
 Cycle

Bestway Fauji Lucky

2005-06 41.0 68.93 107.93
2006-07 43.91 71.08 88.19
2007-08 64.31 68.93 79.83
2008-09 61.09 27.96 78.53
2009-10 46.31 50.22 73.25
 Analysis (Comparison)
 Total Asset
 Turnover

Bestway Fauji Lucky

2005-06 0. 25 0.69 0.42
2006-07 0. 25 0.54 0.61
2007-08 0. 29 0.96 0.56
2008-09 0. 52 0.56 0.36
2009-10 0. 47 0.65 0.65
 Analysis (Comparison)
 Debt to Equity

Bestway Fauji Lucky

2005-06 2. 72 0.60 3.25
2006-07 3. 08 0.38 2.97
2007-08 2. 71 0.30 3.1
2008-09 2. 44 0.29 2.93
2009-10 3. 01 0.50 1.8
 Analysis (Comparison)
 Times Interest
 Earned

Bestway Fauji Lucky

2005-06 45.0 254.0 69.0
2006-07 39.0 58.0 54.0
2007-08 38.0 141.0 39.0
2008-09 41.0 39.0 50.0
2009-10 52.0 42.0 43.0
 Analysis (Comparison)
 Gross Profit
 Margin

Bestway Fauji Lucky

2005-06 50. 48 51.12 24.22
2006-07 17. 93 31.52 20.3
2007-08 13. 47 18.56 19.31
2008-09 32. 20 31.75 20.32
2009-10 13. 27 13.54 24.01
 Analysis (Comparison)
 Rerurn On
 Asset

Bestway Fauji Lucky

2005-06 6. 80 19.42 8.19
2006-07 0. 23 10.10 9.9
2007-08 0. 66 3.32 19.31
2008-09 3. 45 4.70 25.20
2009-10 4. 30 0.93 12.01
 Analysis (Comparison)
 Earnings Per
 Share

Bestway Fauji Lucky

2005-06 0. 58 3.21 3.14
2006-07 3. 51 1.73 7.35
2007-08 4. 37 0.85 9.67
2008-09 3. 17 1.43 9.84
2009-10 -3. 71 0.31 14.01
 Analysis (Comparison)
 Dividend Per
 Share

Bestway Fauji Lucky

2005-06 7. 50 1.6 1.50
2006-07 10. 00 1.2 1.0
2007-08 10. 00 1.1 1.5
2008-09 10. 00 2.1 2.2
2009-10 0. 00 1.9 3.1
End Of Presentation