Financial Statements
Balance Sheet |
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As at June 30, 2006 |
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| LIABILITIES | 2006 |
2005 |
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(Rupees in Thousand) |
||||||
| SHARE CAPITAL & RESERVES | ||||||
| Share Capital | 1,215,873 |
1,136,194 |
||||
| Reserves | 1,467,619 |
1,167,070 |
||||
2,683,492 |
2,303,264 |
|||||
| SURPLUS ON REVALUATION OF PROPERTY, PLANT AND EQUIPMENT | 464,171 |
488,601 |
||||
| NON CURRENT LIABILITIES | ||||||
| Long-term financing | 250,365 |
393,924 |
||||
| Liabilities against assets to finance lease | 182,487 |
123,092 |
||||
| Deferred Liabilities | ||||||
| Taxation | 409,093 |
345,996 |
||||
| Employee benefits | 62 |
- |
||||
| Deferred Income - grant-in-aid | 69,814 |
73,488 |
||||
911,821 |
936,500 |
|||||
| CURRENT LIABILITIES | ||||||
| Trade and other payables | 1,599,580 |
836,697 |
||||
| Interest / mark-up accrued on loans and other payables | 226,709 |
140,210 |
||||
| Short-term borrowings | 3,795,340 |
2,879,827 |
||||
| Current portion of long-term liabilities | ||||||
| Long-term financing | 321,496 |
362,825 |
||||
| Liabilities against assets subject to finance lease | 105,132 |
62,287 |
||||
| Provision for taxation | - |
8,685 |
||||
6,048,257 |
4,290,531 |
|||||
| TOTAL LIBILITIES | 10,107,741 |
8,018,896 |
||||
| ASSETS | ||||||
2006 |
2005 |
|||||
| NON CURRENT ASSETS | ||||||
| Property, plant and equipment | 3,144,904 |
2,716,401 |
||||
| Intangible assets | 602,465 |
249,880 |
||||
3,747,369 |
2,966,281 |
|||||
| Long term investments | 11,227 |
60,711 |
||||
| Long-term deposits | 38,811 |
25,541 |
||||
| CURRENT ASSETS | ||||||
| Stores, spares and loose tools | 58,543 |
52,713 |
||||
| Stock-in-trade | 2,576,026 |
1,963,765 |
||||
| Trade debts | 2,614,396 |
1,853,889 |
||||
| Loans and advances | 225,113 |
218,179 |
||||
| Trade deposits and short-term prepayments | 287,034 |
236,489 |
||||
| Other receivables | 9,266 |
270,471 |
||||
| Other financial assets | 91,022 |
35,596 |
||||
| Cash and bank balances | 448,934 |
335,261 |
||||
6,310,334 |
4,966,363 |
|||||
| Total Assets | 10,107,741 |
8,018,896 |
||||
NASEEM SAIGOL Chairman / Chief Executive |
HAROON A. KHAN Managing Director |
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Operating Results
During the year under review, Company has shown progress by maintaining sustained growth momentum in sales and profit. Gross sales of Rs. 11.042 billion from Rs. 8.075 billion in the last year with Rs. 6.077 billion and 3.983 billion in FY 2004 and 2003 respectively have shown a consistent growth. Growth in sales and profit after tax in the year under review have been 37% and 55% respectively. Summary of key financial results is given below :
| Financial Results (Rs. in Million) | 2006 |
2005 |
| Gross Sales | 11,042 |
8,075 |
| Gross Profit | 2,048 |
1,489 |
| Profit Before Tax | 517 |
381 |
| Profit After Tax | 442 |
285 |
Dividend & Shares
The Board has recommended a stock dividend (Bonus shares) of 25% out of the capital reserves of the Company.
The issuance of Term Finance Certificates (TFCs) amounting to Rs. 800 million is in process. SECP has recently issued license to Special Purpose Vehicle (SPV) Prime Electronics Company Limited. The process relating to this including public offer of Rs. 200 million will be completed soon.
Group: