Yo

2016
Liquidity Ratios
Current ratio (times) 0.372319486791979
Quick ratio (times) 282636392.874013
Assets Management Ratios
Inventory turnover (times) 12.53
Receivables turnover (times) 19.2959752828153
Payables turnover (times) 221.052150766766
Days Sales Outstanding (days) 18.92
Days Sales Of Inventory (days) 29.14
Days Payable Outstanding (days) 1.65
Operating Cycle (days) 48.06
Cash Conversion cycle (days) 46.4042089246772
Total Asset Turnover (times) 1.32
Fixed Asset turnover (times) 1.99
Debt Management Ratio
Debt to Asset Ratio 0.984685934
Debt to Equity ratio -65.2994464206921
Long term debt ratio 0.114365261497299
Times Interest Earned Ratio 271.283675402589
Profatibility Ratios
Gross Profit Margin 0.000478689839777
Net Profit Margin -0.007766486964683
Operating Profit Margin -0.011410635214146
Return On Total Assets -0.012170112974413
Return On Common Equity 0.782531527132005
Market Value Ratios
Price to earning ratio (times)
Market to Book Ratio (times)
Dividend Yield Ratio
Dividend Payout Ratio
Dividend Cover (times)

Solvency Ratio

Your Company
2015
Rs
ASSETS
Non-current assets
Property, plant and equipment 352103702
Long-term deposits 11046184
Total noncurrent Assets 363149886

Current Assets
Stores and spare 11126872
Stock-in-trade 66505345
Trade debts 34448211
advances and payments 44211535
short term investment 10933276
balance with statutory authorities 6475229
cash and bank balances 183897187
total current assets 357597655

Total Assets 720747541

EQUITY AND LIABILITIES

Equity
17500000 ordinary shares of Rs 10 each 17500000
15177,000 ordinary sharws of Rs 10 each
Accumulated loss -297860948
fully paid in cash 151770000
Surplus on revaluation of property, plant 134881714
total equity -11209234
Non-current liabilities
Deferred liabilities 82428481

Current liabilities
Trade and other payables 37499263
accrued mark up 194161422
provision for income tax 276902
Short term borrowings 417590707
total current liabilities 649528294
Total liabilities 731956775
Total equity and liabilities 720747541

Statement of Comprehensive Income

2015
Sales -net 1129413986
cost of sales 1128873347

Gross Profit 540639

Operating costs
Administrative expenses 29922324
Other operating expenses -
Total operating expenses 29922324
Profit after operating expenses -29381685
Profit from operations
Other operating income 16494354
Profit after operating income -12887331
Finance costs -47505

Profit before taxation -12934836

Taxation 4163257
Profit for the year -8771579

Earnings per share 1.16

Other comprehensive income

Items that will not be reclassified:
Share of actuarial losses on
remeasurement of post employment
benefit plan of an associate - net of tax

Actuarial gains/(losses) on
remeasurement of retirement and other
service benefits
Less: Taxation thereon

Unrealized gain due to change in fair

value of long-term available-for-sale
investments
Items that may be reclassified subsequently to profit or loss:
Share of unrealized gains/(losses) due to
change in fair value of available-for-sale
investments of associates

unreaized profit/(loss) on changes in fair

value of investment -108
Less: Taxation thereon

Total Comprehensive Income for the ye -8771687

2011
Dividend per share (Rs)
Price per share (Rs)
Total Dividend (Rs)
COGS
Credit Purchases (Rs 000s)
Number of shares (not in 1000s)
Tax rate
Depreciation (Rs 000s)
Amortization (Rs 000s)
Accounts Payable (Rs 000s)
Book value per share (Rs)
 Your Company Ratios
2017 2018

0.455935026129747 0.525749930481577
353990305.802201 406423668.763944

9.25 8.01
19.6026594291761 24.8504157771547
217.172799562333 132.048017933577
18.62 14.69
39.47 45.56
1.68 2.76
58.09 60.25
56.4127180915615 57.484997046937
1.39 1.57
2.21 2.67

1.089520957 1.127794360
11.1705687337294 7.82507148745921
0.137996872278723 0.128577610243215
294.770140280561 -1110.17112863808

0.006719591390806 0.050924248594225
-0.012161486401699 0.024156319989457
-0.012116847258955 0.032927818768323
-0.016064812662163 0.033491793872877
-0.195517906699344 0.295567475171386

2016 2017
Rs Rs

533398154 510216896
11046184 11418156
 544444338 521635052

15419603 15110740
80220273 138461667
44343659 35175503
44004911 5395605
11110653 23057146
24949372 34637498
62587922 102152147
282636393 353990306

827080731 875625358

17500000 17500000

-301893810 -261343466
151770000 151770000
218081253 208793666
67957443 99220200

114134554 112585816

33236605 52067213
194161422 194161422
- -
417590707 417590707
644988734 663819342
759123288 776405158
827080731 875625358

f Comprehensive Income
2016 2017
 1092538902 1214020348
1085197487 1152197274

7341415 61823074

25460757 22436424
- 2960035
25460757 25396459
-18119342 36426615

4881215 3548427
-13238127 39975042
-44910 -36008

-13283037 39939034
-3860 -10612770
-13286897 29326264

0.88 1.93
 332904 1936493

-12953993 31262757

Additional Information
2012 2013
2019 2020

0.390957014172605 0.670975055560912
484858402.854696 557260931.811473

9.25 8.47
21.9623650332156 14.1468685734095
113.120903781314 208.06785064809
16.62 25.80
39.47 43.12
3.23 1.75
56.09 68.92
52.8594057997386 67.1637983858438
1.85 1.33
3.48 2.61

1.178302179 0.779412564
5.60845636657771 6.47848376753746
0.121380361779048 0.110363436073774
-1421.46519331673 -1433.33392574689

0.06106571121689 0.061207453012141
0.029112300055237 0.031441534040641
0.041005932914354 0.045145177952532
0.045820374034956 0.039234434817287
0.302801942510274 0.293414083909585

Balance Sheet
As at 30 June
2018 2019 2020
Rs Rs Rs

489408281 466717972531954937
15038156 15038156 15038156
 504446437 481756128546993093

11646158 11554100 18497318

170833538 168649353138079285
45030153 72622128 62811731
6052467 42553113 69325008
19929127 17357641 18340946
32033872 30420121 32575457
120898354 141701947217631187
406423669 484858403 557260932

910870106 966614531 1.104E+09

17500000 Rs 17,500,000 17500000

-213784444 -151899854 -1.24E+08

151770000 151770000151770000
199848464 191560975245985909
137834020 191431121273729958

110561743 106678901119017735

50722215 516630265 99754203

194161422 194161422194161422
- 5122115 -
417590707 417590707417590707
662474344 1133504509 711506332
773036087 1240183410 830524067
910870107 1431614531 1.104E+09

2018 2019 2020

 1433634887 1786445500 1.472E+09
1346088953 1677101721 1.425E+09

87545934 109343779 46200727

27563370 30996112 30059956

4628311 6284765 2388695
32191681 37280877 32448651
55354253 72062902 13752076

3433283 8586498 14953011

58787536 80649400 28705087
-41357 -56267 -45783

58746179 80593133 28659304

-17009770 -24424546 -10014497
41736409 56168587 18644807

2.75 3.7 1.23

 -3122589 -2571486 983305

38613820 53597101 19628112

2014 2015 2016

 2016
Liquidity Ratios
Current ratio (times) 0.736085762964775
Quick ratio (times) 0.722454510804908
Assets Management Ratios
Inventory turnover (times) 8.76713316455409
Receivables turnover (times) 0.924699237825603
Payables turnover (times) 0.448337322788924
Days Sales Outstanding (days) 394.72293808556
Days Sales Of Inventory (days) 27.7551770648518
Days Payable Outstanding (days) 814.119149682841
Operating Cycle (days) 422.478115150412
Cash Conversion cycle (days) -391.64103453243
Total Asset Turnover (times) 0.006042835818726
Fixed Asset turnover (times) 4.89282791645345
Debt Management Ratio
Debt to Asset Ratio 0.347419024613524
Debt to Equity ratio 0.282134425510277
Long term debt ratio 0.187545218282471
Times Interest Earned Ratio -263.458476428348
Profatibility Ratios
Gross Profit Margin 1.61360957715759
Net Profit Margin 4.892827916
Operating Profit Margin 0.776126604867893
Return On Total Assets 0.002138204
Return On Common Equity
Market Value Ratios
Price to earning ratio
Market to Book Ratio
Dividend Yield Ratio
Dividend Payout Ratio
Dividend Cover (times)

Solvency Ratio

Competitor 1 Pakistan Limited

Balance Sheet

As at year ended 31
Dec 2015
Rs 000s
ASSETS
Non-current Assets
Property, plant & equipment 377,353,491
Capital work in Progress
Long-term Investments 1,263,054
Long-term loans and advances
Long-term deposits and prepayments 2,472,446

Total Non-Current Assets 381,088,991

Current Assets
Stores
Inventory 941,269
Tax refunds due from government 14687476
Loans and advances 10813728
trade debts and Short-term prepayments 2222030
Other receivables 21860971
Cash and bank balances 302924
Investments
TOTAL CURRENT ASSETS 50828398
TOTAL ASSETS 431,917,389

EQUITY AND LIABILITIES

Equity
Share capital 250000000
Issued, subscribed and paid capital 222133470
Interest free Directors Loans
Surplus on Revaluation Of fixed Assets 261206317
Unappropriated loss -201478715
Total equity 531861072

Liabilities
Non-current liability
Long term financing 78835116
Long term Deposits 839925
Deferred liabilities 1329000
Current liabilities
Trade and other payables 33486311
Unclaimed Dividends
Accrued mark-up/interest 4930250
Book overdrafts 10124765
Current Portion of long-tem borrowings 9902448
Provision for taxation 10608503
TOTAL CURRENT LIABILITIES 69052277
Total liabilities 150056318
TOTAL EQUITY AND LIABILITIES 681917390

Statement of
Comprehensive Income

2015

Sales 20173000
Other revenue

Sales tax
Net revenue 20173000
Cost of products sold 12,378,346
Gross Profit/Loss 32551346
Distribution and marketing expenses
Administrative expenses -12,650,643
Other expenses -911,932
Other income -3,331,969
Operating Profit 15656802
Finance costs -7,698
Profit before taxation 15649104
Taxation 742953
(Loss)/Profit for the year 16392057
Total comprehensive (loss)/income for the year 23314041
(Loss)/Earnings per share 0.24

2015

Tax rate
Market Price per share (Rs)
total number of shares
Ordinary dividend per share (Rs)
Book value per share (Rs)
Depreciation (Rs 000s)
Amortization (Rs 000s)
Average Inventory 1411903.5
Average receiveable 21815742
Credit Purchases (Rs 000s) 12,378,346
avg Payables 27609448
Total Non-Current Liablities 81004041
Competitor 1 PAKISTAN Ltd ratios
2017 2018

0.779888895471187 0.771524089531624
0.756960682312312 0.749098131343678

5.92987197779452 3.80973598188549
0.471705199690853 0.5211971205989
0.396197980898715 0.467287257865541
773.788375110587 700.310852793246
41.0351748308461 46.6948485414791
921.256587860576 891.378430199963
814.823549941433 747.005701334725
-106.433037919143 -144.372728865238
0.006820786413615 0.007384294230082
5.40570107757323 5.86959051207068

0.346024520770751 0.370646394649436
0.529109317504526 0.58893186834606
0.245852361153714 0.267357523350275
-63.7874258507649 488.21823290665

2.892827916 0.892827916
-0.663605622726826 -0.146801598706664
0.02138204 0.005148204

2016 2017
Rs 000s Rs 000s
 373920038 369586361

13054 14630
1464953 2038577
2408446 2336169

377,806,491 373,975,737

941269 941269

3350499 2210872
3681248 5288055
1931630 1611230
21770513 21362359
341520 968854

32016679 32382639
409,823,170 406,358,376

250000000 250000000
222133470 222133470

260138046 259132296
-214257211 -225522657
268014305 255743109

98430144 105024104
833850 833850
1492000 2785015

21732585 20531169

4930250 4930250
5737589 7858431
8652448 8652448

41052872 41972298
141808866 150615267
 41052872 41972298

2016 2017

10,173,000 11134000

10173000 11134000
8,372,407 7,357,625
18545407 18491625

-13,161,798 -10,637,630
-1,593,011 -758,555
-10,541,458 -8,729,929
-6750860 -1634489
-25,624 -25,624
-6776484 -1660113
-1,312,880 -1,312,880
-22,208,418 -2972993
13846767 12271196
0.3 0.26

Additional Information
2016 2017

1411903.5 1931269
21566436 21362359
 8,372,407 8,396,356
21131877 17968296.5
100755994 108642969
 2019 2020

0.931784382206679 1.11396637530219
0.878577614338052 1.0461937000262

3.78639153094463 6.8150203957382
0.56801315809738 1.035703531477
0.8322030931558 3.41945460519219
642.590747761206 352.417452395357
62.1719027733641 35.5424060614252
446.141084108683 106.885207695045
704.76265053457 387.959858456783
258.621566425888 281.074650761738
0.006732644625251 0.00091826693168
5.371225443717 1.21105575181732

0.236239646236907 0.224917289539987
0.309301466932942 0.163823997346464
0.146624537875764 0.147319512574208
1068.46230452035 1447.00516565548

1.892827916 4.892827916
1.03098729769927 3.68726443801641
0.2138204 0.3820466

2018 2019
Rs 000s Rs 000s
365563394 373462286
11202138
14652 8884
1465976 2887194
2336169 2336169

380,582,329 378,694,533

1980000 2180000
3538344 2494277
5947499 7803087
1611230 1611230
21362359 21362359
235350 381286

34674782 35832239
415,257,111 414,526,772

250000000 250000000
222133470 222133470
66067055 80898745
258185303 257293218
-229218910 -241213218
317166918 569112215

58508315 58508315
833850 833850
1544717 1725717

15405424 13011250
249589 239589
4930250 4930250
8075600 5432819
8552448 8552448

37213311 32166356
98100193 93234238
 37972298 412346772

2018 2019

12,134,101 11,173,280

12134101 11173280
11,624,222 22,387,342
23758323 33560622

-7,300,123 5,859,880
-941,269 5,768
-3,006,827 1,772,568
12510104 41,198,838
-25,624 -38,559
12484480 -3,537,287
-1,312,880 -1,133,711
11171600 -4,670,998
12271196 16309702
0.26 0.11

n
2018 2019

3070000 3285000
21362359 10788106.5
11,824,222 22,417,342
14208337 6555823.834
60886882 61067882
 2020
Rs 000s
 768,161,724
8,178,406

3,117,771
3,850,387

783,308,288

2,210,000
3,214,866
5,663,791
1,611,230
213,854
1,822,305
886,753,103
901489149
1,684,797,437

250000000
222,133,470
10,590,745
682,474,489
-538,423,575
626775129

58,508,315
287 000
1,906,239

100,397.67
239,589
4930250
54,143,648
8552448

67966332.668
2020

3855480

3855480
20921655
24777135

16250974
30575589
206754111
142861373
-98729
142762644
-8230050
134532594
112716125
3.03

2020

2210000
106927
18,711,655
50198.834
60414554
 2016
Liquidity Ratios
Current ratio (times) 4.92552251609032
Quick ratio (times) 4.43883014
Assets Management Ratios
Inventory turnover (times) 6.54959653147961
Receivables turnover (times) 8.57879768731653
Payables turnover (times) 6.77412248288835
Days Sales Outstanding (days) 42.5467546040444
Days Sales Of Inventory (days) 55.7286236252393
Days Payable Outstanding (days) 53.8815176315459
Operating Cycle (days) 98.2753782292837
Cash Conversion cycle (days) 44.3938605977378
Total Asset Turnover (times) 0.316908924007896
Fixed Asset turnover (times) 0.316908924007896
Debt Management Ratio
Debt to Asset Ratio 0.067455340896005
Debt to Equity ratio 0.072334702941538
Long term debt ratio 0.022798496535752
Times Interest Earned Ratio 0
Profatibility Ratios
Gross Profit Margin 0.109160522311949
Net Profit Margin 0.010432863520088
Operating Profit Margin 0.010432863520088
Return On Total Assets 0.003306267552472
Return On Common Equity 0.008918107760469
Market Value Ratios
Price to earning ratio 101.254663461538
Market to Book Ratio 0.903
Dividend Yield Ratio 0
Dividend Payout Ratio 0
Dividend Cover (times) 0

Solvency Ratio 0.5514818156851

Competitor 1 Pakistan Limited

Balance Sheet

As at year ended 31
Dec 2015

ASSETS
Non-current Assets
Property, plant & equipment 721847193
Intangible Assets
Long-term Investments
Long-term loans and advances
Long-term deposits and prepayments 4509782
Long-term debtors
Deferred taxation - net
726356975
Current Assets
Stores 30545748
Stock-in-trade 14696425
Trade debts & Contract Costs 62790339
Loans and advances 29985700
Short-term prepayments 283109
Other receivables & Tax Payments Due from Govt 29,435,086
Cash and bank balances 35705040
203441447
TOTAL ASSETS 929798422

EQUITY AND LIABILITIES

Equity
Share capital 1,000,000,000
Issued, Subscribed, Paid up Capital 349,850,000
General reserve
Unappropriated profit 184,444,068
Surplus on Revaluation of PPE 353,905,407
Total equity 888,199,475

Liabilities
Non-current liability
Staff Retirement Gratuity 20,539,108
Deferred taxation - net & Others
20,539,108
Current liabilities
Trade and other payables 16,057,511
Accrued mark-up/interest 2,328
Short-term borrowings - secured 5,000,000
Taxation 0
21,059,839
Total liabilities 41,598,947

TOTAL EQUITY AND LIABILITIES 929,798,422

Competitor 1 Ashraf Textile Mills

Statement of
Comprehensive Income

2015

Sales 384,336,000
For revenue
Other the year ended 31 Dec 0
384,336,000
Sales tax 0
Net revenue 384,336,000
Cost of products sold 345,950,000
Gross Profit 38,386,000
Distribution and marketing expenses
Administrative expenses
Other operating expenses
Total Expenses 32,740,000
Operating Profit 5,646,000
Finance costs 0

Share of profit of associate - net of tax 0

Profit before taxation 5,646,000

Taxation 0
(Loss)/Profit for the year 5,646,000

Other comprehensive income/losses

Actuarial gain/loss 13,942,440

Total comprehensive (loss)/income for the year 19,588,440

(Loss)/Earnings per share 0.161383450050021

2016
Average Inventory 40675788
Total Average Assets 943662287
Average Fixed Assets 943662287
 2015

Credit Purchases (COGS+CI-OI)

Tax rate 33%
Market Price per share (Rs) 8.22
total number of shares 34985000
Ordinary dividend per share (Rs) 0
Book value per share (Rs) 349,850,000
Depreciation 33,400,312
Competitor 1 Ashfaq Textile Mills Limited
2017 2018

5.35928735349962 5.78899805565462
4.56554534996056 4.97880565260802

5.62730415577489 6.17717949047202
9.66715371217264 7.84970545611882
5.25507129296164 6.58838781341915
37.7567183544833 46.4985599829715
64.8623194865747 59.0884562384813
69.4567170742025 55.4005031787249
102.619037841058 105.587016221453
33.1623207668554 50.1865130427279
0.296452990808391 0.29869022335797
0.296452990808391 0.29869022335797

0.089447200921424 0.089651585060781
0.098233952054713 0.09848051975437
0.046900194042363 0.054179221117599
4.49833724204876 -37.5462478753457

0.125193047868492 0.05921186665859
0.012711306823718 -0.054948499322011
0.029584930653751 -0.044240616890907
0.003768304924974 -0.016412579535677
0.010369421180506 -0.045014554809204

8.41898486717082 -16.505772480684
0.873 0.743
0 0
0 0
0 0

0.41983487946327 0.196988466821978

2016 2017
 735,147,422 720,905,425

4,509,782 4509782

739657204 725,415,207

21527697 35,909,147
14581706 16,715,034
26811028 35,059,303
59543134 52,308,471
4002343 538,549
45,620,034 58,887,628
45783006 43,037,775
217868948 242,455,907
957526152 967,871,114

1000000000 1,000,000,000
349,850,000 349,850,000

204,512,775 207,446,251
338,573,124 324,001,510
892,935,899 881297761

20,357,596 41,333,036

20,357,596 41,333,036

12,712,131 21,365,939
520,526 43,664
31,000,000 20,952,247
0 2,878,476
44,232,657 45,240,326
64,590,253 86,573,362

957,526,152 967,871,123
 2016 2017

299,055,000 285,394,889
0 0
299,055,000 285,394,889
0 0
299055000 285,394,889
266,410,000 249,665,433
32,645,000 35,729,456
2,951,511
23,982,454
352,103
29,525,000 27,286,068
3,120,000 8,443,388
0 1,877,002

0 0
3,120,000 6,566,386

0 2,938,644
3,120,000 3,627,742

16,948,650 -694,266

20,068,650 2,933,476

0.089181077604688 1.03694211805059

2017 2018
44366792 43649634.5
962698633 959528754.5
962698633 959528754.5
 Additional Information
2016 2017

275,542,770 233,150,655
32% 31%
9.03 8.73
34985000 34985000
0 0
349,850,000 349,850,000
32500350 32,718,775
2019 2020

6.40233435529585 6.69261874904131
5.46956470614212 5.94989730068066

8.31329947154487 10.8111532286165
5.91350903287807 5.06772558728757
8.37654825453612 10.9125985114153
61.7230815021443 72.0244207609831
43.9055517306141 33.7614306523625
43.5740341855421 33.4475789261544
105.628633232758 105.785851413346
62.0545990472163 72.3382724871911
0.302453644557497 0.328389068008981
0.302453644557497 0.328389068008981

0.074228747798801 0.186460372355503
0.080180441574857 0.229196417984749
0.051928516484256 0.194055353494366
4.46844692019328 38.0781523675665

0.131268869150913 0.142499691585085
0.010738735834124 0.038648796655921
0.025852032606451 0.045365725552803
0.003247969790971 0.012691842313506
0.009873139917107 0.04314629984279

50.9463052507181 19.3527603303748
0.503 0.835
0 0
0 0
0 0

0.409414616364528 0.260936045093631

2018 2019
724,604,957 974,361,422

4,509,782 4509782

729,114,739 978,871,204

31,079,777 28,684,175
3,595,311 3,864,987
37,655,499 59,275,733
48,408,279 42,695,930
551,645 506,095
53,962,331 57,100,604
46,818,814 4,754,610
222,071,656 196,882,134
951,186,395 1,175,753,338

1,000,000,000 1000000000
349,850,000 349850000

205,908,348 221,279,700
310,152,679 517,348,940
865911027 1088478640

46,914,385 56,523,081
0
46,914,385 56,523,081

15,557,526 19,539,442
8,751 272,400
19,962,701 7,939,474
2,832,005 3,000,301
38,360,983 30,751,617
85,275,368 87,274,698

951,186,395 1,175,753,338
 2018 2019

286,601,858 321,650,337
0 0
286,601,858 321,650,337
0 0
286,601,858 321,650,337
269,631,627 279,427,661
16,970,231 42,222,676
2,564,074 1,618,485
27,075,730 31,949,170
9,870 339,706
29,649,674 33,907,361
-12,679,443 8,315,315
337,702 1,860,896

0 0
-13,017,145 6,454,419

2,731,197 3,000,301
-15,748,342 3,454,118

14,210,439 219,113,495

-1,537,903 222,567,613

-0.45014555 0.098731399171073

2019 2020
33612125 30977882
1063469866.5 1189325602
1063469866.5 1189325602
n
2018 2019

287,580,720 281,553,587
30% 29%
7.43 5.03
34985000 34985000
0 0
349,850,000 349,850,000
32,546,606 32,277,419
2020
 968,234,112

4509782

972,743,894

25,541,615
3,864,987
67,664,975
42,454,385
486,592
46,297,785
43,843,633
230,153,972
1,202,897,866

1000000000
349850000

253,584,657
375,170,445
978605102

66,602,652
123,300,907
189,903,559

28,229,372
0
0
6,159,853
34,389,225
224,292,784

1,202,897,886
2020

387,085,364
3,476,162
390,561,526
0
390,561,526
334,906,629
55,654,897
1,619,660
34,005,271
2,311,859
37,936,790
17,718,107
465,309

0
17,252,798

2,158,065
15,094,733

1,124,617

16,219,350

0.431462998427898
2020

338,049,189
29%
8.35
34985000
0
349,850,000
43,431,339
 Comp
2016
Liquidity Ratios
Current ratio (times) 0.824973601400716
Quick ratio (times) 0.508663124366208
Assets Management Ratios
Inventory turnover (times) 0.158298133878016
Receivables turnover (times) 0.034551625344285
Payables turnover (times) 0.179244599393822
Days Sales Outstanding (days) 10563.9024608253
Days Sales Of Inventory (days) 4305.00525694344
Days Payable Outstanding (days) 24343.600911833
Operating Cycle (days) 14868.9077177687
Cash Conversion cycle (days) -9474.6931940643
Total Asset Turnover (times) 0.000907494830536
Fixed Asset turnover (times) 0.001175895001651
Debt Management Ratio
Debt to Asset Ratio 0.284929917173854
Debt to Equity ratio 0.398464324011062
Long term debt ratio 0.060562246442235
Times Interest Earned Ratio 6697.08636363636
Profatibility Ratios
Gross Profit Margin 0.298135120895725
Net Profit Margin 2.35616076132662
Operating Profit Margin 3.41745822412348
Return On Total Assets 0.002138203710815
Return On Common Equity 0.00553104233624
Market Value Ratios
Price to earning ratio 19.3636363636364
Market to Book Ratio 12.0753450839008
Dividend Yield Ratio -
Dividend Payout Ratio -
Dividend Cover (times) -

Solvency Ratio 0.052443369866567

Competitor 3 Jubilee Spinning &

Weaving Mills Limited , Balance Sheet

As at year ended 31 Dec 2015

Rs 000s
ASSETS
Non-current Assets
Property, plant & equipment 582288844
Investment property 95715059
Long-term Investments 884068
Long-term loans 1724278
Long-term deposits 710722
Total noncurrent assets 681,322,971
Long-term debtors
Deferred taxation - net

Current Assets
Stores 1778935
Trade debts 147251189
Loans and advances 18500597
Other receivables 13851687
Advance income tax and refundable 7645827
Cash and bank balances 1105138
short term deposits and prepayments 3082310
short term investments 49594308
Total current assets 242,809,991

TOTAL ASSETS 924,132,962

EQUITY AND LIABILITIES

Equity
Share capital (Authorized share capital
34,000,000 (2019: 34,000,000) ordinary shares of
Rupees 10 each 340,000,000
Issued, subscribed and paid up share capital 324,912,050
General reserve
Accumulated loss

Capital reserves
Fair value reserve on 'Fair value through other
comprehensive income'
investments -

Revaluation surplus on property, plant and equipment 622140754

Equity portion of directors' loan
Revaluation surplus on investment property 88935022
Total equity 114624081

Liabilities
Non-current liability
Long term financing 81687366
Deferred taxation - net 10058031
Employees' retirement benefits 35100695
Total noncurrent liabilities 126,846,092
Current liabilities
Trade and other payables 166255064
Over due portion of long term financing
Provisions 9928940
Short term borrowings
Accrued markup 24517429
Unclaimed dividend
Provision for taxation 133742
total current liabilities 200,835,175
Total liabilities 327,681,267
Competitor 1 Pakistan Limited
TOTAL EQUITY AND LIABILITIES 442,305,348

Statement of
Comprehensive Income

2015

Revenue(sales) 14876824
Forofthe
Cost year ended
revenue(cost 31
of sales) Dec -29513498

Sales tax
Net revenue
Cost of products sold 29513498
Gross Profit -14,636,674
Distribution and marketing expenses -78810
Administrative expenses -19397002
Other operating expenses -41917327
tortal operating expenses
Other income 38530867
Operating Profit -37,498,946
Finance costs -177427

Share of profit of associate - net of tax

Profit before taxation -37,676,373

Taxation -2685454
(Loss)/Profit for the year -40,361,827

Other comprehensive income

Items that will not be reclassified to profit or loss:
- Revaluation surplus on property, plant and equipment

ivestment property OR - Effect of change in tax rates

on balance of revaluation surplus on
investment properties
- Actuarial gain on remeasurement of employees retire 187732
- Related deferred tax -60074
Total 127,658
Unrealized gain / (loss) arising on remeasurement of investments at 'fair value through other comprehensive
fair value adjustments on available for sale investment -3265890
fair value adjustments on disposable available for sale investments
Total -3,138,232
Total comprehensive (loss)/income for the year -43,500,059

(Loss)/Earnings per share -

2016

Tax rate 32%

Market Price per share (Rs) 4.26
total number of shares 32491205
Ordinary dividend per share (Rs) -
Book value per share (Rs) 0.35278494903467
Depreciation 3,926,419
Amortization (Rs 000s) -
Avg inventory 13380770.5
Avg receivables 87344371.5
Avg payables 141269651
credit purchases (Rs 000s) 25,321,822
Competitor 3 Jubilee Spinning & Weaving Mills Limited
2017 2018

0.911640277140476 0.991941638873354
0.590689599159964 0.635426458136609

0.299695103610115 0.533038685898206
0.946882352945812 1.55458448001512
0.070952457116385 0.119060225244297
385.475554449253 234.789427459388
1222.80823786524 658.926280253785
5144.2897798632 3065.67536934409
1608.28379231449 893.715707713174
-3536.0059875487 -2171.95966163091
0.007894420982636 0.011748093821375
0.009631385738329 0.014176565396717

0.212515154823004 0.18765948755544
0.269865707415916 0.231010868817462
0.019606771998787 0.019482485183489
5830.14479282852 550.81156655203

0.687190717077617 0.651780454273267
4.81673452826504 0.88461697069074
5.87259941442246 1.22006575031902
0.038025330127725 0.010392563167655
0.050542476650885 0.012990310247316

1.72394366197183 5.82178217821782
3.76481938808601 3.0965857458796
- -
- -
- -

0.6958848699158 0.219602279265507

2016 2017
Rs 000s Rs 000s
 141,507,472 61,501,605
453,429,981 573,548,423
839,358 362,628
1,682,278 1,158,840
4,449,009 9,108,326
601,908,098 645,679,822

24,982,606 25,184,600
27,437,554 23,322,714
24,868,500 64,615,614
10,080,767 10,176,960
47,748,374 12,199,009
1,599,922 2,283,087

136,717,723 137,781,984

738,625,821 783,461,806

340,000,000 340,000,000
324,912,050 324,912,050
51,012,000 51,012,000
-538,281,938 -417,226,318

36,912,133 10,278,178

647,426,493 647,988,389
6,188,489 -

528,169,227 616,964,299

- -
9,473,330 11,635,173
 35,259,509 3,725,984
44,732,839 15,361,157

116,284,238 101,310,115
8,386,191 14,574,680
9,928,940 9,928,940
- -
24,517,429 -
577,737 577,737
6,029,220 24,744,878
165,723,755 151,136,350
210,456,594 166,497,507

738,625,821 783,461,806

2016 2017

3,017,890 24,032,001
-2,118,151 -7,517,433

2,118,151 7,517,433
899,739 16,514,568

-2,553,649 -26,698,494
-1,364,722

11,967,423 152,678,963
10,313,513 141,130,315
-1,540 -24,207

10,311,973 141,106,108

-3,201,339 -25,350,339
7,110,634 115,755,769
 - 279,385

- 282,511
- 8,147,845
- -2,444,354
- 6,265,387
-
- 6,656,370
- -33,290,325
- -20,368,568
7,110,634 95,387,201

0.22 3.55

Additional Information
2017 2018

31% 30%
6.12 5.88
32,491,205 32,491,205
- -
1.62557598894839 1.89886555146231
107,327 8,028
- -
25083603 24269231
25380134 23897214
108797176.5 93278011
7,719,427 11,105,701
ted
2019 2020

0.969413176347812 0.85497648915468
0.79745995688427 0.70197237371826

0.770576645675443 9.22556449078629
1.0477295177131 0.325207455646739
-0.158851918747167 0.065704737689346
348.372355487983 1122.36049224064
31.4387370822006 32.4457605347452
-2297.73743294183 5555.15496805924
379.811092570184 1154.80625277539
2677.54852551201 -4400.34871528385
0.007328107486777 0.002208267308416
0.0086979645036 0.002619508596535

0.172336954077134 0.208038452782523
0.208221153434455 0.262687567992987
0.019258994296483 0.014656462149313
782.570189274448 19.6897587581067

0.607012500331472 0.145577237738458
1.21993465824112 -1.42879629691478
1.42461814864566 1.01770882507664
0.008939812302435 -0.003155164152863
0.01090089191737 -0.003897438544769

2.78651685393258 -10.15625
1.24355160322438 1.55933350002131
- -
- -
- -

0.210901063169573 -0.048533861704734

2018 2019
Rs 000s Rs 000s
 63,284,370 76,921,101
587,552,160 596,785,876
261,145 7,875,549
1,534,840 835,140
11,957,004 14,360,293
664,589,519 696,777,959

23,353,862 801,630
24,471,714 20,735,091
65,417,822 23,035,614
5,981,762 65,766,956
8,572,151 5,300,079
5,269,057 5,777,264

133,066,368 121,416,634

797,655,887 818,194,593

340,000,000 340,000,000
324,912,050 324,912,050
51,012,000 51,012,000
-384,583,845 -355,489,458

6,556,552 5,598,805

650,071,435 651,156,032
- -

647,968,192 677,189,429

- -
11,252,547 11,335,702
 4,287,772 4,421,903
15,540,319 15,757,605

85,245,907 81,518,248
14,574,680 14,574,680
9,928,940 9,928,940
- -
- -
577,737 577,737
23,820,112 18,647,954
134,147,376 125,247,559
149,687,695 141,005,164

797,655,887 818,194,593

2018 2019

37,150,238 23,682,252
-12,936,439 -9,306,829

12,936,439 9,306,829
24,213,799 14,375,423

-46,256,182 -46,741,989

67,368,116 66,104,732
45,325,733 33,738,166
-82,289 -43,112

45,243,444 33,695,054

-12,379,713 -4,804,254
32,863,731 28,890,800
 1,790,793 1,084,597

292,253
-311,631 286,742
90,373 -83,155
1,861,788 203,587
-311,631 -957,747
-3,694,392
-27,234
-1,859,838 330,437
31,003,893 29,221,237

1.01 0.89

n
2019 2020

29% 29%
2.48 3.25
32,491,205
- -
1.99428796808244 2.08422380456496
847,339 1,971,848
- -
12077746 679395.5
22603402.5 22557050.5
83382077.5 91672811
-13,245,403 6,023,338
 2020
Rs 000s
 88,803,390
599,677,889
7,971,712
871,890
6,106,537
703,431,418

557,161
24,379,010
23,012,714
79,041,189
10,745,844
1,605,693

139,341,611

842,773,029

340,000,000
324,912,050
51,012,000
-365,690,642

5,694,968

651,515,456
-

667,443,832

-
11,450,096
 901,975
12,352,071

101,827,374
14,574,680
9,928,940
1,358,539
20,597
577,737
34,689,259
162,977,126
175,329,197

842,773,029

2020

7,335,721
-6,267,807

6,267,807
1,067,914

-48,451,122

54,848,836
7,465,628
-379,163

7,086,465

-17,567,716
-10,481,251
 359,424

394,461
-114,394
280,067
96,163

735,654
-9,745,597

-0.32
 Com
2016
Liquidity Ratios
Current ratio (times) 0.99
Quick ratio (times) 0.48
Assets Management Ratios
Inventory turnover (times) 4.74
Receivables turnover (times) 9.13
Payables turnover (times) 4.47
Days Sales Outstanding (days) 39.98
Days Sales Of Inventory (days) 76.93
Days Payable Outstanding (days) 81.57
Operating Cycle (days) 116.91
Cash Conversion cycle (days) 35.34
Total Asset Turnover (times) 0.34
Fixed Asset turnover (times) 0.72
Debt Management Ratio
Debt to Asset Ratio 0.69
Debt to Equity ratio 222.11%
Long term debt ratio 0.15
Times Interest Earned Ratio 1.78
Profatibility Ratios
Gross Profit Margin 8.68%
Net Profit Margin 0.80%
Operating Profit Margin 6.06%
Return On Total Assets 1.09%
Return On Common Equity 3.54%
Market Value Ratios
Price to earning ratio 31.33
Market to Book Ratio 10.85
Dividend Yield Ratio 0.00%
Dividend Payout Ratio 0.00%
Dividend Cover (times) 0.00%

Solvency Ratio 0.0818

Competitor 1 Pakistan Limited

Balance Sheet

As at year ended 31
Dec 2016
Rs
ASSETS
Non-current Assets
Property, plant & equipment 2,585,435,276
Long-term deposits and prepayments 14,965,251
Deferred taxation - net 19,353,054
2,619,753,581
Current Assets
Stores 405,010,037
Stock-in-trade 1,130,453,261
Trade debts 799,368,652
Loans and advances 57,600,282
trade deposits 1,198,592
Other receivables 23,383,294
tax refunds 519,795,241
cash and bank balances 72,842,482
3,009,651,841
TOTAL ASSETS 5,629,405,422
Current Assets- STORES - STOCK IN TRADE 1,474,188,543
EQUITY AND LIABILITIES
Equity
Share capital 224,216,880
General reserve 1,523,471,253
Total equity 1,747,688,133

Liabilities
Non-current liability
long term financing 741,209,438
staff retirement benefits- gratuity 100,073,826
Deferred taxation - net
Total non current liabilty 841,283,264
Current liabilities
Trade and other payables 1,613,487,785
unclaimed dividend
Accrued mark-up/interest 36,664,423
Short-term borrowings - secured 942,851,796
secured long term financing 447,430,021

Total current liabilities 3,040,434,025

Total liabilities 3,881,717,289
TOTAL EQUITY AND LIABILITIES 5,629,405,422

Statement of
Comprehensive Income
 2016
Rs
Sales 7,602,603,733

Net revenue 7,602,603,733

Cost of products sold 6,942,947,177
Gross Profit 659,656,556
add other income 7,116
Distribution and marketing expenses 51,773,262
Administrative expenses 130,770,465
Other operating expenses 16,487,070
Operating Profit 460,632,875
Finance costs 259,504,557
Profit before taxation 201,128,318

Taxation -140,609,576
(Loss)/Profit for the year 60,518,742

Total comprehensive (loss)/income for the year 72,166,105

(Loss)/Earnings per share 2.7

2016
AVG INVENTORY 1,463,325,929
AVG RECIEVABLES 832,762,698
AVG PAYABLES 1583888027.5
CREDIT PURCHASES (COGS+CL.INV-OP INV) 7,087,221,916

2015

Credit Purchases (Rs 000s)

Tax rate 33%
Market Price per share (Rs) 131.25
total number of shares 77,100,000
Ordinary dividend per share (Rs)
Book value per share (Rs)
Depreciation (Rs) 257,116,534
Amortization (Rs 000s)
Competitor 2 DIN TEXTILE PAKISTAN Ltd ratios
2017 2018

0.94 1.07
0.31 0.39

3.10 2.73
9.84 9.78
4.18 3.10
37.08 37.34
117.65 133.66
87.38 117.70
154.74 171.00
67.36 53.30
0.29 0.29
0.67 0.73

0.77 0.80
341.63% 397.08%
0.13 0.24
1.01 1.66

6.43% 8.52%
0.89% 1.53%
3.82% 6.16%
1.02% 1.78%
3.89% 8.38%

-40.09 19.07
15.29 11.80
1.48% 0.00%
46.30% 0.00%
2.16 0

0.0605 0.0667

2017 2018
Rs Rs
2,895,905,218 3,542,913,022
15,469,561 15,246,261

2,911,374,779 3,558,159,283

629,933,998 284,916,091
2,311,688,158 3,124,499,774
708,664,469 1,230,752,471
41,118,901 57,001,211
1,466,192 395,300
25,028,770 40,900,153
641,483,065 618,089,275
51,366,744 36,825,820
4,410,750,297 5,393,380,095
7,322,125,076 8,951,539,378
1,469,128,141 1,983,964,230

224,216,880 224,216,880
1,433,751,579 1,576,594,309
1,657,968,459 1,800,811,189

855,591,032 1,946,434,125
110,828,405 100,815,513
16,535,353 80,273,473
982,954,790 2,127,523,111

2,384,896,349 3,509,434,660
5,095,120
67,921,760 93,772,875
1,807,128,919 1,078,886,160
421,254,799 336,016,263

4,681,201,827 5,023,205,078
5,664,156,617 7,150,728,189
7,322,125,076 8,951,539,378
 2017 2018
Rs Rs
7,421,791,694 9,479,189,625

7,421,791,694 9,479,189,625
6,944,650,737 8,671,900,216
477,140,957 807,289,409
1,791,230 117,627
53,948,412 52,544,898
138,734,351 147,942,247
2,750,481 22,879,910
283,498,943 584,039,981
282,010,510 352,702,909
1,488,433 231,337,072

-64,785,084 -86,449,522
66,273,517 144,887,550

-61,692,564 142,842,730

-2.82 4.97

2017 2018
2238542727 3175519010.5
754016560.5 969708470
1999192067 2947165504.5
8,350,809,595 9,139,693,925

Additional Information
2016 2017

7,087,221,916 8,350,809,595
32% 31%
84.59 113.05
77,100,000 77,100,000
1.25
7.79 7.39
256,906,104 276,548,820
s
2019 2020

1.09 1.17
0.43 0.56

2.79 3.03
8.37 6.63
3.27 3.25
43.62 55.09
130.92 120.52
111.66 112.26
174.54 175.62
62.89 63.36
0.30 0.27
0.76 0.63

0.79 0.75
387.13% 300.59%
0.23 0.29
1.66 1.22

11.39% 10.36%
3.14% 0.29%
9.08% 7.95%
3.72% 0.32%
18.29% 1.39%

6.54 48.81
10.95 7.08
3.08% 0.00%
20.11% 0.00%
4.972 0.00%

0.0879 0.0579

2019 2020
Rs Rs
 3,987,275,619 5,809,204,866
17,746,951 17,746,951

4,005,022,570 5,826,951,817

472,834,854 321,405,226
3,466,157,383 3,129,278,953
1,532,233,969 2,235,985,003
343,588,742 145,883,245
1,144,910 172,000
11,036,860 12,359,207
680,640,822 476,345,181
24,315,539 309,354,078
6,531,953,079 6,630,782,893
10,536,975,649 12,457,734,710
2,592,960,842 3,180,098,714

291,481,940 524,667,490
1,871,573,936 2,585,212,785
2,163,055,876 3,109,880,275

2,247,306,385 3,495,521,020
116,765,377 139,872,106
29,620,029 36,316,450
2,393,691,791 3,671,709,576

3,081,466,049 3,501,042,695
5,201,194 5,912,860
191,046,742 127,201,456
2,228,255,524 1,974,513,110
474,258,473 67,474,738

5,980,227,982 5,676,144,859
8,373,919,773 9,347,854,435
10,536,975,649 12,457,734,710
 2019 2020
Rs Rs
11,560,481,838 12,482,831,245

11,560,481,838 12,482,831,245
10,243,242,326 11,189,621,786
1,317,239,512 1,293,209,459
495,994 6,949,219
47,094,020 54,419,678
161,986,051 203,346,873
59,362,383 49,916,848
1,049,293,052 992,475,279
630,752,106 814,752,986
418,540,946 177,722,293

-56,092,804 -141,086,740
362,448,142 36,635,553

362,244,687 40,315,574

12.43 0.86

2019 2020
3674204051 3694838208
1381493220 1884109486
3295450354.5 3291254372
10,772,818,698 10,701,313,728

n
2018 2019

9,139,693,925 10,772,818,698
30% 29%
94.77 81.25
77,100,000 29,148,194
2.5
8.03 7.42
331,925,982 373,747,300
2015
Rs
2,551,516,961
14,942,951
109,893,567
2,676,353,479

210,128,882
1,181,059,677
866,156,744
34,647,619
1,540,042
38,308,951
480,752,411
36,719,880
2,849,314,206
5,525,667,685
1,458,125,647

224,216,880
1,451,305,148
1,675,522,028

865,600,506
104,080,675

969,681,181

1,554,288,270

39,759,731
963,951,990
322,464,485

2,880,464,476
3,850,145,657
5,525,667,685
2015
Rs
8,552,540,730

8,552,540,730
8,126,147,434
426,393,296
1,326,044
83,900,823
136,997,626
1,534,028
205,286,863
372,513,718
-167,226,855

-33,096,194
-200,323,049

-190,768,373

-8.93

2020

10,701,313,728
29%
41.98
52,466,749

5.93
505,055,778
 Industry ratios
2016 2017 2018 2019
Liquidity Ratios
Current ratio (times) 1.56975541885664 1.689795520033 1.83038134152215 1.957349426534
Quick ratio (times) 56527279.8057643 70798062.40585 81284735.1044468 96971682.086778
Assets Management Ratios
Inventory turnover (times) 6.54911953294425 4.841178674754 4.25240137316188 4.9812901393778
Receivables turnover (times) 7.59267995325522 8.106281913028 8.91024024053699 7.57194456789
Payables turnover (times) 46.5856855476347 45.41442269923 28.4647868635696 25.08796012553
Days Sales Outstanding (days) 2212.01376844939 250.544545483 206.725147397508 222.58470360666
Days Sales Of Inventory (days) 898.911519222222 297.1667055434 188.785667528059 61.581344069877
Days Payable Outstanding (days) 5058.96496209038 1244.813026938 826.58310841502 -338.62812998312
Operating Cycle (days) 3110.92528767161 547.7112510263 395.510814925567 284.16604767654
Cash Conversion cycle (days) -1948.03967441877 -697.101775911 -431.07229348945 622.79417765965
Total Asset Turnover (times) 0.39711722716586 0.396830185845 0.43659677781687 0.4922516883172
Fixed Asset turnover (times) 1.58437739379655 1.718303072896 1.91670144516901 1.9855726060128
Debt Management Ratio
Debt to Asset Ratio 0.47480665004709 0.502215029149 0.51491569483307 0.491165021195
Debt to Equity ratio -12.4650909273073 3.096820243137 2.54286640326255 2.0154994269092
Long term debt ratio 0.10694312982218 0.116920133619 0.14145360809473 0.1132726155754
Times Interest Earned Ratio 1341.33732199118 1213.326224487 -21.406335845317 87.139861187474
Profatibility Ratios
Gross Profit Margin 0.42163021986749 0.176678508746 0.16941619205064 0.1826580772088
Net Profit Margin 1.45192306381837 1.543808369862 0.35238750215566 0.636793189764
Operating Profit Margin 0.85063917771895 1.052932011232 0.22471284264988 0.522645784756
Return On Total Assets 0.00125260104149 0.011468989015 0.01008527287539 0.0618049264044
Return On Common Equity 0.16646771319338 -0.01913726758 0.06946456176212 0.1012904014595
Market Value Ratios
Price to earning ratio (times)
Market to Book Ratio (times)
Dividend Yield Ratio
Dividend Payout Ratio
Dividend Cover (times)

Solvency Ratio
 2020

2.1001441791607
111452188.01396

7.6690940840253
5.4401653464475
45.143409555408
325.53895871652
53.078137375781
1161.8999937149
378.6170960923
-783.2828976226
0.3871344016147
0.9565765146413

0.429838837281
2.0280096885127
0.1522256179058
14.53145626188
0
0.0905766864785
0.7074113650148
0.9749982784249
0.0868008292137
0.0693117277946