Project of Cf

8/7/2019 Project of Cf

1/42

RAFHAN VERTICAL

PROFIT AND LOSS A2009

Sales - Net 11,428,104

Cost of sales -8,992,742Gross profit 2,435,362

Distribution cost -116,884

Administrative expenses -187,535

Operating profit 2,130,943

Other operating income 79,259

2,210,202

Finance cost -48,766

Other operating expenses -149,572

Profit before taxation 2,011,864

Taxation -714,784

Profit after taxation 1,297,080Earnings per share - Basic and diluted (Rupees) 140.43

RAFHAN VERTICAL

BALANCE SHEETS2009

NON CURRENT ASSETS

Property, plant and equipment 1,765,365

Capital work in progress 987,851Employees retirement benefits 15,784

Long term loans 3,564

Total Non Current Assets 2,772,564

CURRENT ASSETS

Stores and spares 277,972

Stock in trade 1,166,118

Trade debts 315,365

Loan advances 11,840

Trade deposits 22,227

Other recievables 65,029Cash and bank balances 673,409

Total Current assets 2,531,960

Total Assets 5304524

CURRENT LIABILITIES

Trade and other payables 734,202

Mark up accrued on short term running finances 8,601


2/42

Short term running finances secured -

Provision for taxation 293,670

Total current liabilities 1,036,473Working capital 1,495,487

Total capital employed 4,268,051

Non Current liabilities

Deffered taxation 260,321Net capital employed 4,007,730

REPRESENTED BY:

SHARE CAPITAL AND RESERVES

Share capital 92,364

Reserves 3,915,366

Total liabilities 1,296,794

Total liabilities & owner's equity 5304524

RAFHAN HORIZONTPROFIT AND LOSS A2009

Sales - Net 11,428,104

Cost of sales -8,992,742

Gross profit 2,435,362

Distribution cost -116,884

Administrative expenses -187,535

Operating profit 2,130,943

Other operating income 79,2592,210,202

Finance cost -48,766

Other operating expenses -149,572

Profit before taxation 2,011,864

Taxation -714,784

Profit after taxation 1,297,080

Earnings per share - Basic and diluted (Rupees) 140.43

RAFHAN HORIZONT

BALANCE SHEETS2009

NON CURRENT ASSETS


Capital work in progress 987,851

Employees retirement benefits 15,784

Long term loans 3,564


3/42

Total Non Current Assets 2,772,564

CURRENT ASSETS

Stores and spares 277,972


Trade debts 315,365

Loan advances 11,840Trade deposits 22,227

Other recievables 65,029

Cash and bank balances 673,409

Total Current assets 2,531,960


CURRENT LIABILITIES

Trade and other payables 734,202

Mark up accrued on short term running finances 8,601

Short term running finances secured -Provision for taxation 293,670

Total current liabilities 1,036,473

Working capital 1,495,487

Total capital employed 4,268,051

Non Current liabilities

Deffered taxation 260,321

Net capital employed 4,007,730

REPRESENTED BY:

SHARE CAPITAL AND RESERVES

Share capital 92,364Reserves 3,915,366


Total liabilities & owner's equity 5304524


4/42

NALYSIS

COUNTS2008 2007 2009 2008

10,746,826 7,578,339 100% 100%

-8,005,580 -5,480,167 78.70% 74.50%2,741,246 2,098,172 21.30% 25.50%

-160,563 -190,583 1.00% 1.50%

-165,510 -152,950 1.60% 1.50%

2,415,173 1,754,639 18.60% 22.50%

90,911 62,862 0.70% 0.80%

2,506,084 1,817,501

-36,123 -11,807 0.40% 0.30%

-170,896 -124,593 1.30% 1.60%

2,299,065 1,681,101 17.60% 21.40%

-806,700 -591,917 6.30% 7.50%

1,492,365 1,089,184 11.30% 13.90%161.57 117.92

NALYSIS

2008 2007 2009 2008

1,553,156 1,501,737 33.30% 29.40%

503,559 88,892 18.60% 9.50%71,957 96,537 0.30% 1.40%

791 1,460 0.10% 0.00%

2,129,463 1,688,626

279,768 218,821 5.20% 5.30%

2,406,062 1,361,821 22.00% 45.50%

343,604 328,389 5.90% 6.50%

24,493 42,534 0.20% 0.50%

26,256 0 0.40% 0.50%

63,995 0 1.20% 1.20%13,730 305,420 12.70% 0.30%

3,157,908 2,256,985 47.73% 59.72%

5,287,371 3,945,611 100% 100%

765,924 589,359 13.80% 14.50%

8,522 61 0.20% 0.20%


5/42

493,709 0.00% 9.30%

205,502 78,158 5.50% 4%

1,473,657 667,578

1,684,251 1,589,407

3,813,714 3,278,033

235,273 252,337 4.90% 4.40%3,578,441 3,025,696

92,364 92,364 1.70% 1.70%

3,486,077 2,933,332 73.80% 65.90%

1,708,930 919,915

5,287,371 3,945,611 100% 100%

L ANALYSISCOUNTS2008 2007 2009 2008

10,746,826 7,578,339 151% 142%

-8,005,580 -5,480,167 164% 146%

2,741,246 2,098,172 116% 131%

-160,563 -190,583 61% 84%

-165,510 -152,950 123% 108%

2,415,173 1,754,639 121% 138%

90,911 62,862 126% 145%2,506,084 1,817,501 122% 138%

-36,123 -11,807 413% 306%

-170,896 -136,400 110% 125%

2,299,065 1,681,101 120% 137%

-806,700 -591,917 121% 136%

1,492,365 1,089,184 119% 137%

161.57 117.92 119% 137%

L ANALYSIS

2008 2007 2009 2008

1,553,156 1,501,737 118% 103%

503,559 88,892 1111% 566%

71,957 96,537 16% 75%

791 1,460 244% 51%


6/42

2,129,463 1,688,626 164% 126%

279,768 218,821 127% 128%

2,406,062 1,361,821 86% 177%

343,604 328,389 96% 105%

24,493 42,534 28% 58%26,256 0

63,995 0

13,730 305,420 220% 4%

3,157,908 2,256,985 112% 140%

5,287,371 3,945,611 134% 134%

765,924 589,359 125% 130%

8,522 61 14100% 13970%

493,709205,502 78,158 376% 263%

1,473,657 667,578 155% 221%

1,684,251 1,589,407 94% 106%

3,813,714 3,278,033 130% 116%

235,273 252,337 103% 93%

3,578,441 3,025,696 132% 118%

92,364 92,364 100% 100%3,486,077 2,933,332 133% 119%

1,708,930 919,915 141% 186%

5,287,371 3,945,611 134% 134%


7/42

2007

100%

72.30%27.70%

2.50%

2.00%

23.20%

0.80%

0.20%

1.60%

22.20%

7.80%

14.40%

2007

38.10%

2.30%2.40%

0.00%

5.50%

34.50%

8.30%

0.40%

0.00%

0.00%7.70%

57.20%

100%

14.80%

0.00%


8/42

0.00%

2%

6.40%

2.30%

74.40%

100%

2007

100%

100%

100%

100%

100%

100%

100%100%

100%

100%

100%

100%

100%

100%

2007

100%

100%

100%

100%


9/42

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%100%

100%

100%


10/42

1) current ratio

2) quick ratio

3) inventory turnover ratio

4) days sales outstanding

5) fixed assests turnover ratio

6) total asset turnover ratio

7) debt ratio

8) time intrest earned ratio


11/42

9) net profit ratio

10) return on assets

11) Price Per Earning Share

12) basic earning power ratio

13) return on equity

14) gross profit ratio

15) operating profit ratio

16) operating ratio

Operating expenses=

17) administrative expense ratio

18) selling and distribution expenses ratio


12/42

19) sales/equity ratio

20) Book value per share

21) stock turnover

22) working capital turn over ratio

net working capital=

23) debtors turnover ratio

24) debtors collection period

25) debt to equity ratio

26) long term debt to equity


13/42

Rafhan Ration Analysis2009

current assets 2531960

current liabilites 1036473

times 2.44

(current assets-invertory) (2531960-1166118)

current liability 1036473

times 2.13

sales 11428104inventory 1166118

times 9.8

receivables 315365

annual sales/365 (11428104/365)

days 10.07

sales 11428104fixed assets 1765365

times 6.47

sales 11428104

total assets 5304524

times 2.15

total liabilities * 100 1296794


percent 24.45

EBIT 2060630

Intrest Charges 48766

times 42.26


14/42

Net Income *100 1297080

Sales 11428104

percent 11.35

Net Income *100 1297080Total Assets 5304524

percent 24.45

Maket price 1485

Earning per share 140.43

times 10.57

EBIT *100 2060630


percent 38.85

Net income *100 1297080

common equity 4007730

percent 32.36

Gross Profit *100 2435642

Sales 11428104

percent 21.31

operating profit *100 2130943

sale 11428104

18.65

(Operating expenses + CGS) *100 929744100

sales 11428104

percent 81.36

gross profit - operating profit 304699

administrative expense*100 187535

sales 11428104

percent 1.64

selling and distribution exp *100 116884


15/42

sales 11428104

percent 1.02

sales 11428104

equity 4007730

times 2.85

market price 1485

book value 433.91

times 3.42

cost of good sold 8992742

average stock 1166118

times 7.71

sales 11428104

net working capital 1495487

times 7.64

current assets - current liabilities 1495487

net sales 11428104

debtors 315365

days 36.24

debtors *365 315365

net sales 11428104

days 10.07

debt *100 1296794

equity 4007730

percent 32.36

long term debt *100 260321

equity 4007730

percent 6.5


16/42

Industry average2008 2007 2009

3,099,295 2256985

1473657 667578

2.1 3.38 1.04

(3099295-2406062) (2256985-1361821)

1473657 667578

0.47 1.3 0.62

10746826 75783392406062 1361821

4.47 5.56 4.2

343604 328389

(10746826/365) (7578339/365)

11.67 15.82 14.4

10746826 75783391553156 1501737

6.92 5.05 50.6

10746826 7578339

5287371 3945611

2.03 1.92 1.32

1708930 919915

5287371 3945611

32.32 23.31 68.54

2335188 1692908

36123 11807

64.65 143.38 1.5


17/42

1492365 1089184

10746826 7578339

13.89 14.37 0.09

1492365 10891845287371 3945611

28.23 27.6 0.12

2381.42 2255

161.57 117.92

14.74 19.12 2.6

2335188 1692908

5287371 3945611

44.17 42.91 9.74

1492365 1089184

3578441 3025696

41.7 36 0.27

2741246 2098172

10746826 7578339

25.51 27.69 16.3

2415173 1754639

10746826 7578339

22.47 23.15

833165300 582370000

10746826 7578339

77.53 76.85 93.8

326073 343533

165510 152950

10746826 7578339

1.54 2.02 3.05

160563 190583


18/42

10746826 7578339

1.49 2.51 10.2

10746826 7578339

3578441 3025696

3 2.5 4.5

2381 2255

387.43 327.58

6.15 6.88 3.05

8005580 5480167

2406062 1361821

3.33 4.02 4.9

10746826 7578339

1625638 1589407

6.61 4.77

1625638 1589407

10746826 7578339

343604 328389

31.28 23.08 22.3

343604 328389

10746826 7578339

11.67 15.82 16.3

1708930 919915

3578441 3025696 125

47.76 30.4

235273 252337

3578441 3025696 18.7

6.57 8.34


19/42

2008 2007

1.16 0.99

0.68 0.6

3.5 5

16.4 15.04

40.8 5.54

1.42 1.41

60.85 50.42

1.9 1.7


20/42

0.08 0.09

0.12 0.13

6.5 1.9

9.28 9.9

0.27 0.28

15.9 16.5

94 92.5

3.6 3.2


21/42

10.9 9.5

4 3.03

4.5 2.5

3.02 3.5

23.6 22

15 16.9

129 117

19 21.03


22/42

MITCHELL'S VERTIC

PROFIT AND LOSS A2009

Sales 1,278,678,610

Cost of sales -1043682073Gross profit 234,996,537

Administration expenses -49,699,971

Distribution and marketing expenses -124,290,843

Other operating expenses -1,947,763

Other operating income 12,962,644

Profit from operations 72,020,604

Finance cost -53,487,027

Profit before tax 18,533,577

Taxation -4,481,935

Profit for the year 14,051,642

MITCHELL'S

BALANCE SH2009

EQUITY AND LIABILITIES

CAPITAL AND RESERVES

Authorised capital

10,000,000shares of Rs 10 each 100,000,000

Issued, subscribed and paid up capital 50,400,000

Reserves 9,635,878

Unappropriated profit 209,806,010

269,841,888

NON-CURRENT LIABILITIES

Long term loan - secured -

Deferred liabilities 50,478,690

50,478,690

CURRENT LIABILITIES

long term loans - secured -

Short term finances - secured 307,671,564

Trade and other payables 87,816,200Accrued finance cost 12,099,523

407,587,287

Total Liabilities 727,907,865

NON-CURRENT ASSETS


Intangible assets 1,325,725


23/42

Long term loans and deposits 1,110,482

biological assets 5,397,600

329,521,634

Current assets

Stores, spares and loose tools 12,781,281


Trade debts 58,674,183

Advances, deposits, prepayments 53,330,558

and other receivables Cash and bank balances 13,217,682

398,386,231

Total Assets 727,907,865

MITCHELL'S

PROFIT AND

2009

Sales 1278678610

Cost of sales 1,043,682,073

Gross profit 234,996,537

Administration expenses 49,699,971

Distribution and marketing expenses 124,290,843

Other operating expenses 1,947,763

Other operating income 12,962,644

Profit from operations 72,020,604

Finance cost 53,487,027Profit before tax 18,533,577

Taxation 4,481,935

Profit for the year 14,051,642

MITCHELL'S HORIZ

BALANCE SHEETS

2009EQUITY AND LIABILITIES

CAPITAL AND RESERVESAuthorised capital

10,000,000(ordinary shares of Rs 10 each 100,000,000

Issued, subscribed and paid up capital 50,400,000

Reserves 9,635,878

Unappropriated profit 209,806,010

269,841,888

NON-CURRENT LIABILITIES

Long term loan - secured -


24/42

Deferred liabilities 50,478,690

50,478,690

CURRENT LIABILITIES

Current portion of long term loans - secured -

Short term running finances - secured 307,671,564

Trade and other payables 87,816,200

Accrued finance cost 12,099,523407,587,287


ASSETS

NON-CURRENT ASSETS


Intangible assets 1,325,725

Long term loans and deposits 1,110,482

biological assets 5,397,600

329,521,634CURRENT ASSETS

Stores, spares and loose tools 12,781,281


Trade debts 58,674,183

Advances, deposits, prepayments 53,330,558

and other receivables Cash and bank balances 13,217,682

398,386,231

Total assets 727,907,865


25/42

L ANALYSIS

COUNTS2008 2007 2009 2008

1038637296 866,618,994 100% 100%

-848823705 706,265,864 81.62% 81.72%189,813,591 160,353,130 18.37% 18.27%

-40,779,924 -33,477,739 3.80% 3.90%

-108184873 -67,198,560 9.77% 10.41%

-1,535,470 -2,655,207 0.15% 0.14%

6,123,349 4,011,847 1% 0.58%

45,436,673 61,033,471 5.60% 4.30%

-32,323,268 -21,267,849 4.18% 3.11%

13,113,405 39,765,622 1.44% 1.20%

-4,775,865 -14,100,000 0.35% 0.45%

8,337,540 25,665,622 0.10% 0.80%

ERTICAL ANALYSIS

EETS2008 2007 2009 2008

100,000,000 100,000,000

50,400,000 50,400,000

9,635,878 9,635,878

200,794,368 202,536,828

260,830,246 262,572,706

7,368,418 22,105,260 6.93% 1.02%

49,607,813 40,685,326 6.93% 6.87%

56,976,231 62,790,586

14,736,842 14,736,842 42.26% 889%

288,711,025 145,860,708 12.06% 40%

89,805,848 89,142,916 1.66% 12.44%10,311,523 3,284,782 55.90% 1%

403,565,238 253,025,248 55.94%

721,371,715 578,388,540 100% 100.00%

322,282,388 265,025,533 44.19% 44.67%

1,657,156 2,071,446 0.18% 0.22%


26/42

716,334 377,223 s 0.09%

5,132,000 5,251,100 0.74% 0.71%

329,787,878 272,725,302 45.26% 45.71%

13,305,761 10,904,510 1.75% 1.84%

288,698,972 185,037,159 35.77% 40.02%

39,067,739 45,932,040 8.06% 5.41%

39,601,514 37,123,955 7.32% 5.48%

10,909,851 26,665,574 1.81% 1.50%

391,583,837 305,663,238 54.73% 54.28%

100%

721,371,715 578,388,540 100% 100%

ORIZONTAL ANALYSIS

LOSS ACCOUNTS

2008 2007 2009 2008

1,038,637,296 866,618,994 148% 120%

848,823,705 706,265,864 148% 120%

189,813,591 160,353,130 147% 118%

40,779,924 33,477,739 148% 122%

108,184,873 67,198,560 185% 161%

1,535,470 2,655,207 73% 58%

6,123,349 4,011,847 323% 153%

45,436,673 61,033,471 118% 74%

32,323,268 21,267,849 251% 152%13,113,405 39,765,622 47% 33%

4,775,865 14,100,000 32% 34%

8,337,540 25,665,622 55% 32%

ONTAL ANALYSIS

2008 2007 2009 2008

100,000,000 100,000,000 100% 100%

50,400,000 50,400,000 100% 100%

9,635,878 9,635,878 100% 100%

200,794,368 202,536,828 104% 99%

260,830,246 262,572,706 103% 99%

7,368,418 22,105,260 33%


27/42

49,607,813 40,685,326 124% 122%

56,976,231 62,790,586 80% 90%

14,736,842 14,736,842 100%

288,711,025 145,860,708 211% 198%

89,805,848 89,142,916 99% 101%

10,311,523 3,284,782 368% 314%403,565,238 253,025,248 161% 159%

721,371,715 578,388,540 126% 125%

322,282,388 265,025,533 121% 122%

1,657,156 2,071,446 64% 80%

716,334 377,223 294% 190%

5,132,000 5,251,100 103% 98%

329,787,878 272,725,302 121% 121%

13,305,761 10,904,510 117% 122%

288,698,972 185,037,159 141% 156%

39,067,739 45,932,040 128% 85%

39,601,514 37,123,955 144% 107%

10,909,851 26,665,574 50% 41%

391,583,837 305,663,238 130% 128%

721,371,715 578,388,540 126% 125%


28/42

2007

100%

81.49%18.50%

3.80%

7.75%

0.30%

0.46%

7.04%

2.45%

4.58%

1.62%

2.96%

2007

3.82%

7.03%

10.85%

2.54%

25.21%

35.23%0.56%

43.74%

100%

45.82%

0.35%


29/42

0.06%

0.90%

47.15%

1.80%

31.99%

7.90%

6.41%

4.60%

52.84%

100%

2007

100%

100%

100%

100%

100%

100%

100%

100%

100%100%

100%

100%

2007

100%

100%

100%

100%

100%

100%


30/42

100%

100%

100%

100%

100%

100%100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%

100%


31/42

1) current ratio

2) quick ratio

3) inventory turnover ratio

4) days sales outstanding

5) fixed assests turnover ratio

6) total asset turnover ratio

7) debt ratio

8) time intrest earned ratio


32/42

9) net profit ratio

10) return on assets

11) Price Per Earning Share

12) basic earning power ratio

13) return on equity

14) gross profit ratio

15) operating profit ratio

16) operating ratio

Operating expenses=

17) administrative expense ratio

18) selling and distribution expenses ratio


33/42

19) sales/equity ratio

20) Book value per share

21) stock turnover

22) working capital turn over ratio

net working capital=

23) debtors turnover ratio

24) debtors collection period

25) debt to equity ratio

26) long term debt to equity


34/42

Mitchlle's Ratio Analysis

current assets 398386231

current liabilites 407587287

times 0.98

(current assets-invertory) (398386231-260382527)

current liability 407587287

times 0.33

sales 1278678601inventory 260382527

times 4.91

receivables 58674183

annual sales/365 (1278678610/365)

days 16.75

sales 1278678601fixed assets 321,687,827

times 3.97

sales 1278678601


times 1.76

total liabilities * 100 458065977


percent 62.93

EBIT 72020604

Intrest Charges 53487027

times 1.35


35/42

Net Income *100 14051642

Sales 1278678610

percent 1.1

Net Income *100 14051642Total Assets 727907865

percent 1.93

Maket price 10

Earning per share 2.97

times 3.37

EBIT *100 72020604


percent 9.89

Net income *100 14051642

common equity 269841888

percent 5.21

Gross Profit *100 234996537

Sales 1278678610

percent 18.38

operating profit *100 72020604

sale 1278678610

5.63

(Operating expenses + CGS) *100 120665800600

sales 1278678610

percent 94.37

gross profit - operating profit 162975933

administrative expense*100 49699971

sales 1278678610

percent 3.89

selling and distribution exp *100 124290843


36/42

sales 1278678610

percent 9.72

sales 1278678610

equity 269841888

times 4.74

market price 10

book value 2.79

times 3.58

cost of good sold 1043682073

average stock 260382527

times 4.01

sales 1278678610

net working capital -9201056

times -138.97

current assets - current liabilities -9201056

net sales 1278678610

debtors 58674183

days 21.79

debtors *365 58674183

net sales 1278678610

days 16.75

debt *100 458065977

equity 269841888

percent 169.75

long term debt *100 50478690

equity 269841888

percent 18.71


37/42

391583837 305663238

403565238 253025248

0.97 1.21

(391583837-288698972) (305663238-185037159)

403565238 253025248

0.25 0.48

1038637296 866618994288698972 185037159

3.6 4.68

39067739 45932040

(1038637296/365) (866618994/365)

13.73 19.35

1038637296 866618994322,282,388 265,025,533

3.22 3.27

1038637296 866618994

721371715 578388540

1.44 1.5

460541469 315815834

721371715 578388540

63.84 54.6

45436673 61033471

32323268 21267849

1.41 2.87


38/42

8337540 2566622

1038637296 866618994

0.8 0.3

8337540 25665622721371715 578388540

1.16 4.44

10 10

1.65 5.09

6.06 1.96

45436673 61033471

721371715 578388540

6.3 10.55

8337540 25665622

260830246 262572706

3.2 9.77

189813591 160353130

1038637296 866618994

18.28 18.5

45436673 61033471

1038637296 866618994

4.37 7.04

99320062300 80558552300

1038637296 866618994

95.63 92.96

144376918 99319659

40779924 33477739

1038637296 866618994

3.93 3.86

108184873 67198560


39/42

1038637296 866618994

10.42 7.75

1038637296 866618994

260830246 262572706

3.98 3.3

10 10

1.65 5.09

6.06 1.96

848823705 706265864

288698972 185032159

2.94 3.82

1038637296 866618994

-11981401 52637990

-86.69 16.46

-11981401 52637990

1038637296 866618994

39067739 45932040

26.59 18.87

39067739 45932040

1038637296 866618994

13.73 19.35

460541469 315815834

260830246 262572706

176.57 120.28

56976231 62,790,586

260830246 262572706

21.84 23.91


40/42

Industry average

2009 2008 2007

1.04 1.16 0.99

0.62 0.68 0.6

4.2 3.5 5

14.4 16.4 15.04

5.06 4.08 5.54

1.32 1.42 1.41

68.54 60.85 50.42

1.5 1.9 1.7


41/42

0.09 0.08 0.09

0.12 0.12 0.13

2.6 6.5 1.9

9.74 9.28 9.9

0.27 0.27 0.28

16.3 15.9 16.5

93.8 94 92.5

3.05 3.6 3.2


42/42

10.2 10.9 9.5

4.5 4 3.03

3.05 4.5 2.5

4.9 3.02 3.5

22.3 23.6 22

16.3 15 16.9

125 129 117

18.7 19 21.03

Documents

Project of Cf