Group Members ERP and class section

Sector Name of the companies worked on by each member

 Agriauto Industries Limited - Ra
Liquidity Ratios
Current ratio (times)
Quick ratio (times)
Assets Management Ratios
Inventory turnover (times)
Receivables turnover (times)
Payables turnover (times)
Days Sales Outstanding (days)
Days Sales Of Inventory (days)
Days Payable Outstanding (days)
Operating Cycle (days)
Cash Conversion cycle (days)
Total Asset Turnover (times)
Fixed Asset turnover (times)
Debt Management Ratio
Debt to Asset Ratio
Debt to Equity ratio
Long term debt ratio
Times Interest Earned Ratio
Profatibility Ratios
Gross Profit Margin
Net Profit Margin
Operating Profit Margin
Return On Total Assets
Return On Common Equity
Market Value Ratios
Price to earning ratio (times)
Market to Book Ratio (times)
Dividend Yield Ratio
Dividend Payout Ratio
Dividend Cover (times)

Solvency Ratio

Agriauto Industries Limited

Balance Sheet
ASSETS
Non-current assets
Property, plant and equipment
Intangible Assets
Right-of-use assets
Long-term Deposits
Deffered Tax Assets
Total Non Current Assets
Current Assets
Stores, spare parts and loose tools
Stock-in-trade
Trade debts
Advances and deposits
Accrued profit
Accrued Interest Income
Other receivables
Short term investments
Sales Tax Receivable
Current portion of long-term investments
Taxation net
Cash and bank balances
Total Current Assets

Non current assets held for sale

Total Assets

EQUITY AND LIABILITIES

Equity
Authorised capital 40,000,000 (2017: 40,000,000) Ordinary shares of Rs. 5/- each
Issued, subscribed and paid-up capital
Reserves
Surplus on revaluation of property, plant & equipment
Total Equity

Non-current liabilities
Long-term financing
Long-term lease liabilities
Deferred liabilities
Deferred taxation
Government grant
Total Non Current Liabilities

Current liabilities
Trade and other payables
Accrued markup
Unpaid dividend
Short term running finances
Sales Tax Payable
Current maturity of long-term lease liabilities
Current portion of government grant
Current portion of long-term financing
Unclaimed dividend
Total Current Liabilities

Contingencies and Commitments

Total Equity and Liabilities

Agriauto Industries LTD Statement of Comprehensive Income for the year ended 30th Sept

Turnover - Net

Net Sales

Cost of sales
Gross Profit / (Loss)

Operating costs
Distribution cost
Administrative expenses

Total operating costs

Operating Profit / (Loss)

Other expenses
Other income
Finance costs

Profit / (Loss) before taxation

Taxation

Total Tax for the year

Profit / (Loss) for the year
Earnings per share - basic

Other comprehensive income

Items that may be reclassified subsequently to statement of profit or loss

Items that may not be reclassified subsequently to statement of profit or loss

Total Other Comprehensive Income

Total Comprehensive Income / (Loss) for the year

Additional Information
Cash Dividend per share (Rs)
Price per share (RS) - For the year ended 30th September 20XX
Total Dividend (Rs) in 000's
COGS (Rs 000s)
Credit Purchases (Rs 000s) - Closing Inv+COGS-Opening Inv
Number of shares (in 1000s)
Tax rate
Depreciation (rights of use assets included )(Rs 000s)
Amortization (Rs 000s)
Trade Creditors (Rs 000s)
Accrued Liabilities (Rs 000s)
Book value per share (Rs)
Total debt
o Industries Limited - Ratios
2017 2018 2019 2020 2021

5.78 6.89 6.18 3.91 3.82

3.61 3.93 3.54 1.87 2.33

4.41 4.34 4.77 2.73 5.82

617.81 46.39 42.03 10.24 22.23
43.42 24.79 26.70 14.87 21.41
0.59 7.87 8.68 35.64 16.42
82.79 84.10 76.45 133.90 62.67
8.41 14.72 13.67 24.55 17.05
83.38 91.97 85.13 169.54 79.08
74.97 77.25 71.46 144.99 62.04
1.42 1.42 1.64 0.79 1.85
4.46 4.43 4.77 2.36 4.59

0.12 0.10 0.12 0.01 0.70

0.13 0.11 0.14 0.01 0.91
- - - - 0.27
2072.80 2075.48 2065.97 -22.16 300.61

19.93% 19.57% 16.60% 4.79% 15.38%

10.48% 11.80% 10.41% -2.07% 7.91%
15.21% 15.23% 12.81% -1.36% 11.83%
14.56% 14.33% 14.87% -0.71% 22.13%
15.86% 17.69% 20.62% -1.88% 25.72%

9.73 5.65 3.50 -51.14 6.24

1.54 1.00 0.72 0.96 1.61
3.97% 6.64% 7.81% 0.52% 6.11%
38.62% 37.52% 27.31% -26.53% 38.18%
2.59 2.67 3.66 -3.77 2.62

2017 2018 As at 30th September

2019 2020 2021
Rs 000s Rs 000s Rs 000s Rs 000s Rs 000s

1,605,980 1,584,818 2,089,475 2,159,468 2,281,986

- 7,863 6,651 59,586 36,225
- 0 0 15,361 18,740
13,018 13,028 13,438 13,438 13,605
- - 0 - -
1,618,998 1,605,709 2,109,564 2,247,853 2,350,556

68,513 95,788 123,713 120,816 129,991

1,087,399 1,496,940 1,601,264 1,937,205 1,726,252
508,023 574,251 985,768 492,234 1,159,086
12,390 10,644 340,052 141,916 882,286
1,147 1,318 1,793 1,215 1,295
- - - 0 -
- - - 0 -
691,785 743,488 187,513 494,329 266,780
42,100 36,675 86,409 168,275 29,461
- - - 0 -
317,586 324,202 530,309 458,746 346,860
349,541 425,961 174,378 131,195 225,861
3,078,484 3,709,267 4,031,199 3,945,931 4,767,872

- - - - -

4,697,482 5,314,976 6,140,763 6,193,784 7,118,428

200,000 200,000 200,000 200,000 200,000

144,000 144,000 144,000 144,000 144,000
3,928,163 4,556,680 5,280,178 4,970,140 5,627,004
- - - 0 -
4,072,163 4,700,680 5,424,178 5,114,140 5,771,004

- - - 0 -
- - - 8,712 13,305
- - - 0 -
92,313 76,011 64,780 62,123 85,003
- - - - -
92,313 76,011 64,780 70,835 98,308

511,744 512,265 621,539 970,232 1,134,084

 - - - 0 -
968 2,516 7,211 11,971 11,655
- - - 0 36,646
- - - 0 36,449
- - - 6,325 7,425
- - - - -
- - - 0 -
20,294 23,504 23,055 20271 22,857
533,006 538,285 651,805 1,008,799 1,249,116

- -

4,697,482 5,314,976 6,140,763 6,193,774 7,118,428

me for the year ended 30th September

2016 2017 2018 2019 2020
Rs 000s Rs 000s Rs 000s Rs 000s Rs 000s

7,115,296 8,315,021 10,128,569 5,244,651

7,115,296 8135021 10,128,569 5,244,651

\ -5,697,055 -6,722,821 (8,447,418) (4,993,185)

1,418,241 1,592,200 1,681,151 251,466

-128,368 (127,153) (138,242) (75,446)

-207,871 -225,983 (245,478) (247,122)

(336,239) (353,136) (383,720) (322,568)

- 1,082,002 1,239,064 1,297,431 (71,102)

-94,891 -101,376 (112,512) (7,544)
46,778 70,665 72,461 56,886
(522) -597 (628) (3,209)
- (24,969)

- 1,033,367 1,207,756 1,256,752 (24,969)

-287,738 -248,039 (202,054) (83,469)

(287,738) (248,039) (202,054) (83,469)

 - 745,629 959,717 1,054,698 (108,438)
25.89 33 36.62 (3.77)

- -

- 745,629 959,717 1,054,698 (108,438)

Additional Information
2016 2017 2018 2019 2020
10 12.5 10.0 1.0
252.00 188.39 128 192.80
288,000 360,000 288,000 28,800
5,697,055 6,722,821 8,447,418 4,993,185
5,849,919 7,159,637 8,579,667 5,326,229
28,800.000 28,800.000 28,800 28,800.00
28% 29% 29% 29%
0 653335 644,258 733,836 752,965
0 0 1,589 2,496 11,831
0 86,235 81,622 90,993 77,073
0 183,235 226,544 243,533 304,833
- 163.22 188.34 177.57 200.38
- 625,319.00 614,296.00 716,585.00 49,951.00
2022
Rs 000s

1,810,999
26,422
1,837,421

206,239
984,208
8,306
61,059

4,381
420,650
159,103

-
185,336
35,344
2,064,626

301,264

4,203,311

134,950

2,246,775
844,259
3,225,984

1,137,734
9,060
468,610
11,441
111,180
1,738,025

553,672
 31,797

1,797,631

5,340
35,772
347,593
7,981
2,779,786

7,743,795

2021
Rs 000s

10,485,027

10,485,027

(8,872,898)
1,612,129

(122,705)
(249,388)

(372,093)

1,240,036
(100,583)
67,937
(4,125)
1,203,265

1,203,265

(373,601)

(373,601)
 829,664
28.81

829,664

2021
11.0
179.91
316,800
8,872,898
8,671,120
28,800.00
25%
925,960
14,684
120,417
307,573
112.01
2,944,425.00
 ATLAS BATTERIES
ATLAS BATTERIES - Ratio
Liquidity Ratios
Current ratio (times)
Quick ratio (times)
Assets Management Ratios
Inventory turnover (times)
Receivables turnover (times)
Payables turnover (times)
Days Sales Outstanding (days)
Days Sales Of Inventory (days)
Days Payable Outstanding (days)
Operating Cycle (days) - DSI+DSO
Cash Conversion cycle (days) - DSI+DSO-DPO
Total Asset Turnover (times)
Fixed Asset turnover (times)
Debt Management Ratio
Debt to Asset Ratio
Debt to Equity ratio
Long term debt ratio
Times Interest Earned Ratio (times)
Profatibility Ratios
Gross Profit Margin
Net Profit Margin
Operating Profit Margin
Return On Total Assets (EBIT(1-T)/Total Assets)
Return On Common Equity
Market Value Ratios
Price to earning ratio (times)
Market to Book Ratio (times)
Dividend Yield Ratio
Dividend Payout Ratio
Dividend Cover (times)

Solvency Ratio

ATLAS BATTERIES
Balance Sheet
ASSETS
Non-current assets
Property, plant and equipment
Right-of-use-assets
Intangible Assets
Long term loans
Long-term deposits
Total Non Current Assets
Current Assets
Inventory (Consumable stores and spares and loose tools)
Stock - in - trade
Trade debts
Loans and advances
Deposits and Pre payments
Financial Assets (Short term Investments)
Other recievables
Taxation-Net
Bank Balances
Sales tax receivable
Accrued markup
Total Current Assets
non current assets classified as held for sale
Total Assets

EQUITY AND LIABILITIES

Share Capital and Reserves
Issued, subscribed and paid-up ordinary share capital
Ordinary Shares of Rupees 10 each
Share subscription money against right share issuance
Capital Reserves
Reserve for shares to be issued pursuant to scheme of arrangement
Reserve arising as a consequence of scheme of arrangement
Issued, Subscribed and paid up capital
Surplus on revaluation of leasehold land
Revenue Reserves
General Reserves
Unappropriated Profit / (Loss)
Directors’ loans - related parties
Deposit for purchase of shares
Total Equity
Non-current liabilities
Long term finance
Lease Liability
Staff retirement benefits
Deffered tax liability-net
Deffered income- govt grant
Total Non-Current Liabilities
Current liabilities
Trade and other payables
Contract liabilities
Short term borrowings
Accrued mark-up on secured borrowings
Current portion of long term finance (loan from related party)
Current portion of lease liability
Unpaid dividend
Unclaimed dividend
Sales tax payable-net
Current portion of deffered income- govt grant
Dividend payable
Total Current Liabilities
Total Equity and Liabilities

ATLAS BATTERIES Statement of Comprehensive Income

For the year e

Revene from contract with customers- net of sales tax and other government levies

Net Sales

Cost of Revenue
Gross Profit

Operating Expenses
Administrative and General expenses
Selling and Distribution expenses
Other operating expenses
Total Operating Expenses

Profit from operations (EBIT)

Other Income

Finance costs

Profit/ (Loss) before taxation

Taxation
Profit/ (Loss) after taxation
Earnings / (Loss) per share of Rs 10 each - Basic and Diluted

Other comprehensive income

Items that will never be reclassified to statement of profit or loss:
Surplus on revaluation of land
Re-measurement of staff retirement benefit obligation
Deferred tax surplus on revaluation of property, plant and equipment
Total Comprehensive Income for the year

Additional Informati
Dividend per share (Rs)
Price per share (Rs) on 30th September (Year End) 20XX
Total Dividend (Rs)
Credit Purchases (Closing Inv + COGS - Opening Inv)
Cost of Revenue
Number of shares (Issued, subscribed and paid-up ordinary share capital)
Deferred Tax Rate
Depreciation (Excluding Rights-of-use Assets)
Trade Receivables from contracts with customers - local
Trade Creditors
Accrued Liabilities (for calculating payables turnover ratio)
Book value per share (Rs)
Total Debt (For Debt related ratios)
ATLAS BATTERIES
LAS BATTERIES - Ratios
2017 2018 2019 2020 2021

2.24 1.57 1.63 2.21 1.83

1.41 0.87 0.87 0.88 0.54

- 6.79 5.11 5.56 5.53

- 17.30 8.96 14.02 22.36
- 15.10 10.79 14.71 18.71
- 21.09 40.73 26.03 16.33
- 53.72 71.41 65.70 65.95
- 24.16 33.84 24.81 19.51
- 74.81 112.14 91.73 82.27
- 50.65 78.30 66.92 62.76
- 1.99 1.39 1.56 2.25
- 5.43 3.40 3.11 4.93

31.56% 44.21% 35.69% 36.80% 43.23%

46.11% 79.25% 55.50% 58.23% 76.14%
0.00% 0.00% 0.00% 7.03% 4.17%
27.64 7.43 - 2.80 0.49 9.27

17.27% 10.92% 2.09% 7.00% 11.43%

8.60% 3.22% -4.64% -2.61% 4.49%
10.97% 4.78% -4.67% 1.37% 6.43%
16.24% 6.14% -4.43% 1.56% 9.74%
26.00% 10.44% -11.22% -6.60% 15.97%

4.15 5.44 - 2.19 - 10.51 5.22

1.12 0.57 0.25 0.69 0.83
9.93% 5.41% 0.00% 0.00% 7.29%
41.24% 29.46% 0.00% 0.00% 38.06%
2.42 3 - - 3

2016 2017 As at2018

30 September 2019 2020
 3,158,027,000 3,591,257,000 3,924,958,000 4,139,386,000
- - - -
1,467,000 1,002,000 160,000 -
1,303,000 1,759,000 1,289,000 2,049,000
16,777,000 20,401,000 20,281,000 18,683,000
- 3,177,574,000 3,614,419,000 3,946,688,000 4,160,118,000

191,896,000 218,914,000 225,331,000 215,326,000

1,706,859,000 2,689,010,000 1,760,092,000 1,999,313,000
364,642,000 1,754,311,000 1,096,449,000 692,998,000
5,234,000 13,835,000 4,887,000 8,647,000
18,231,000 16,890,000 24,400,000 9,861,000
2,464,851,000 861,921,000 127,055,000 138,268,000
3,893,000 6,685,000 8,399,000 2,446,000
349,166,000 547,349,000 594,968,000 567,622,000
14,873,000 381,180,000 423,649,000 45,507,000
- - 31,739,000 - -
- - - - -
- 5,119,645,000 6,521,834,000 4,265,230,000 3,679,988,000

- 8,297,219,000 10,136,253,000 8,211,918,000 7,840,106,000

500,000,000 500,000,000 500,000,000 500,000,000

- - - - -

- - - - -
- - - -
173,998,000 173,998,000 243,597,000 243,597,000
193,886,000 193,886,000 589,186,000 589,186,000

3,827,500,000 4,697,500,000 5,037,500,000 5,037,500,000

1,483,462,000 589,307,000 - 589,274,000 (915,479,000)
-
-
5,678,846,000 5,654,691,000 5,281,009,000 4,954,804,000

- - - 551,405,000
- - - - 358,677,000
79,868,000 72,813,000 69,345,000 69,515,000
254,932,000 251,028,000 246,580,000 237,131,000
6,181,000
- 334,800,000 323,841,000 315,925,000 1,222,909,000

1,330,910,000 1,643,053,000 1,037,880,000 1,195,743,000

- -
 882,770,000 2,459,687,000 1,408,152,000 71,297,000
4,623,000 20,259,000 43,385,000 34,891,000
- - - 106,506,000
- - - - 30,151,000
- - - - -
- - 34,722,000 37,850,000 35,906,000
65,270,000 - 87,717,000 175,968,000
11,931,000
-
- 2,283,573,000 4,157,721,000 2,614,984,000 1,662,393,000
- 8,297,219,000 10,136,253,000 8,211,918,000 7,840,106,000

nt of Comprehensive Income
2016
For the year ended
2017
30th September
2018 2019 2020

17,169,908,000 18,332,861,000 12,773,113,000 12,546,152,000

17,169,908,000 18,332,861,000 12,773,113,000 12,546,152,000

(14,205,436,000) (16,330,483,000) (12,506,602,000) (11,667,365,000)

- 2,964,472,000 2,002,378,000 266,511,000 878,787,000

(305,430,000) (245,055,000) (221,352,000) (181,626,000)

(606,223,000) (721,325,000) (598,645,000) (487,020,000)
(168,613,000) (160,045,000) (43,546,000) (38,261,000)
(1,080,266,000) (1,126,425,000) (863,543,000) (706,907,000)

- 1,884,206,000 875,953,000 - 597,032,000 171,880,000

249,161,000 73,988,000 385,464,000 32,601,000

(68,170,000) (117,845,000) (213,222,000) (348,496,000)

- 2,065,197,000 832,096,000 - 424,790,000 (144,015,000)

(588,571,000) - 241,502,000 (167,673,000) (183,084,000)
- 1,476,626,000 590,594,000 - 592,463,000 (327,099,000)
84.86 33.94 - 24.32 (13.43)

395,300,000 -
- - 374,000 - 8,109,000 - 3,551,000 1,259,000
- 112,000 2,352,000 1,030,000 (365,000)
 - 1,476,364,000 584,837,000 - 199,684,000 - 326,205,000

Additional Information
2016 2017 2018 2019 2020
- 35 10 - -
352.30 184.75 53.29 141.18
- 608,991,915 173,997,690 - -
- 14,032,067,000 17,339,652,000 11,584,101,000 11,896,581,000
14,205,436,000 16,330,483,000 12,506,602,000 11,667,365,000
17,399,769 17,399,769 24,359,676 24,359,676
28% 29% 39% 29%
257,192,000 294,500,000 316,363,000 367,074,000
364,642,000 1,754,311,000 1,096,449,000 692,998,000
155,876,000 734,168,000 249,546,000 194,989,000
750,571,000 655,279,000 508,717,000 663,736,000
315.20 324.90 216.80 203.40
2,618,373,000 4,481,562,000 2,930,909,000 2,885,302,000
2021
3,952,397,000

3,929,000
1,897,000
20,388,000
3,978,611,000

259,332,000
3,912,393,000
1,092,145,000
19,970,000
39,779,000
146,364,000
2,983,000
209,017,000
189,113,000
29,674,000
302,000
5,901,072,000

9,879,683,000

500,000,000

243,597,000
589,186,000

5,037,500,000
(261,198,000)

5,609,085,000

411,652,000
319,547,000
83,047,000
215,492,000
11,724,000
1,041,462,000

1,692,228,000
 1,083,666,000
16,119,000
308,252,000
39,130,000
-
39,579,000
-
13,623,000
36,539,000
3,229,136,000
9,879,683,000

2021

19,955,087,000

19,955,087,000

(17,673,951,000)
2,281,136,000

(256,665,000)
(651,508,000)
(90,225,000)
(998,398,000)

1,282,738,000

50,722,000

(138,416,000)

1,195,044,000
(299,070,000)
895,974,000
36.78

2,681,000
- 777,000
 897,878,000

2021
14
192.15
341,035,464
19,631,037,000
17,673,951,000
24,359,676
25%
398,624,000
1,092,145,000
177,443,000
1,062,245,000
230.30
4,270,598,000
Note for E150: It was loss before taxation. The percentage became positive due to a minus sign
Note: Figures NOT in thousands
 Baluchistan Wheels
BALUCISTAN WHEEL
2017 2018
Liquidity Ratios
Current ratio (times) 5.90 6.31
Quick ratio (times) 2.77 2.45
Assets Management Ratios
Inventory turnover (times) -22.37 -30.63
Receivables turnover (times) 53.44 92.47
Payables turnover (times) - 38.05
Days Sales Outstanding (days) 6.83 3.95
Days Sales Of Inventory (days) -16.32 -11.92
Days Payable Outstanding (days) - 9.59
Operating Cycle (days) -9.49 -7.97
Cash Conversion cycle (days) - -17.56
Total Asset Turnover (times) 1.05 1.28
Fixed Asset turnover (times) 3.48 3.91
Debt Management Ratio
Debt to Asset Ratio 0.15 0.13
Debt to Equity ratio 0.18 0.15
Long term debt ratio 0.024 0.029
Times Interest Earned Ratio -124.97 -55.91
Profatibility Ratios
Gross Profit Margin 19.49% 14.34%
Net Profit Margin 8.24% 4.66%
Operating Profit Margin 11.23% 5.72%
Return On Total Assets 11.98% 7.75%
Return On Common Equity 10.18% 6.92%
Market Value Ratios
Price to earning ratio (times) 12.87 18.39
Market to Book Ratio (times) 1.31 12.71
Dividend Yield Ratio 3.28% 2.48%
Dividend Payout Ratio 42.19% 45.59%
Dividend Cover (times) 2.37 2.19

Solvency Ratio
BALUCHISTAN WHEELS LIMITED BALACE SHEET AS AT JUNE 30, 2021
2017 2018
Rs 000s Rs 000s
ASSETS
Non-current assets
Property, plant and equipment 367,269 494,967
operating fixed assets -
Right of use assets - -
Long-term loans, advances 4275 3,855
Long-term deposits and prepayments 5,063 5,777
Total non current assets 376,607 504,599
Current Assets
Stores, spare parts and loose tools 55,930 54,455
Stock-in-trade 518,874 532,188
Trade debts 95,781 165,572
Loans and advances 32,592 24,805
Trade deposits and prepayments. 1,694 2,049
Other receivables 2,894 928
sales tax refundables 8,554 -
Short term investments 261,671 5,516
Taxation-net 77,553 141,608
Cash and bank balances 27,530 31,116
total current assets 1,083,073 958,237
Total Assets 1,459,680 1,462,836
EQUITY AND LIABILITIES
Equity
authorized capital 250,000 250,000
Share Capital 133,343 133,343
Revaluation Surplus on Land 0 0
Reserves 1,107,742 1,135,647
Total Equity 1,241,085 1,268,990
Non-current liabilities
Deferred tax 29,179 34,958
GIDC Payable - -
long term deposit 874 1,710
long term loan - -
governmnt grands - -
Lease liability 4,958 5,306
Total non current liability 35,011 41,974
Current liabilities
Trade and other payables 171,734 133,499
Current maturity of Gas infrastructure development ce - -
Liabilities against Assets subject to financial lease 2,948 5,257
provisions for warranty 4,067 5,033
sales tax payable - 2,802
unclaimed and unpaid dividend 4,835 5,281
total current liabilities 183,584 151,872
Total equity and liabilities 1,459,680 1,462,836

BALUCHISTAN WHEELS LIMITED STATEMENT OF PROFIT AND LOSS

2017 2018
Rs 000s Rs 000s
turnover-net 1,533,650 1,882,640
cost of sales (1,234,745) (1,612,676)
Gross Profit 298,905 269,964
Distribution and marketing expenses (49,401) (60,116)
Administrative and General expenses (86,344) (92,075)
Total operating expenses (135,745) (152,191)
other income 25,404 180
operating profit (EBIT) 172,209 107,742
Other operating expenses (14,977) (8,284)
Finance costs (1,378) (1,927)
Profit before taxation 172,209 107,742
Taxation (45,867) (19,953)
profit after taxation 126,342 87,789
Earnings per share 9.48 6.58

BALUCHISTAN WHEELS LIMITED

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED JUNE 2021
2017 2018
Net profit of the year 126,342 87,789

other comprehensive income

Remeausurement on defined benefit Plan -3,958 -6,547
deferred taxes
revaluation surplus on property,plant, and equipment
total comprehensive income for the year 122,384 81,242

ADDITIONAL INFORMA
2017
divident per share 4
price per share 122
Total dividents 53336
Credit Purchases (closing + COGS - opening inv) 1753619
cost of revenue 1,234,745
Number of shares issued( paid up capital) 13334
deferred tax rate 26%
Depriciation -
Trade recievables - local 2894
Trade crediditors -
Accured liabilities -
Book value per share 93.0767211639418
Total debt 218,595
Earnings per share 9.48
histan Wheels Limited
STAN WHEELS LIMITED
2019 2020 2021

7.04 7.72 4.61

3.05 4.50 3.27

-29.76 -20.62 70.46

98.47 37.77 98.41
37.48 28.18 12.45
3.71 9.66 3.71
-12.27 -17.70 5.18
9.74 12.95 29.32
-8.56 -8.04 8.89
-18.30 -20.99 -20.43
1.06 0.48 1.38
3.61 1.32 3.27

0.13 0.14 0.16

0.14 0.17 0.18
0.028 0.049 0.031
-13.84 -10.07 -33.58

15.48% 12.86% 15.43%

4.50% 2.07% 6.39%
5.92% 2.60% 8.99%
6.35% 1.40% 7.66%
5.55% 1.46% 5.24%

13.81 48.59 11.66

7.66 7.11 6.11
2.70% 2.17% 6.82%
37.31% 105.63% 79.47%
2.68 0.95 1.26
2021
2019 2020 2021
Rs 000s Rs 000s Rs 000s

449,581 414,291 950,050

- - -
3,415 3,826 7,709
4,607 4,418 6,176
457,603 422,535 963,935

50,840 39,345 37,804

525,105 413,575 343,671
144,187 108,542 264,625
15,914 16,331 32,004
2,347 1,709 556
431 7,010 29,986
- 1,826 595
102,827 333,906 550,573
129,302 103,518 32,690
44,994 60,362 19,320
1,015,947 1,086,124 1,311,824
1,473,550 1,508,659 2,275,759

250,000 250,000 250,000

133,343 133,343 133,343
0 0 538,518
1,154,676 1,161,311 1,249,035
1,288,019 1,294,654 1,920,896

38,250 33,292 33,694

- - 1,311
2,010 982 1,405
- 30,849 10,418
- 1,923 91
989 6,330 23,477
41,249 73,376 70,396

122,709 116,995 240,350

- - -
3,747 5,302 13,973
1,354 813 1,889
7,046 - -
6,846 5,913 6,065
144,282 140,629 284,467
 1,473,550 1,508,659 2,275,759

OSS
2019 2020 2021
Rs 000s Rs 000s Rs 000s
1,587,558 912,820 1,574,822
(1,341,766) (795,406) (1,331,759)
245,782 117,414 243,063
(44,945) (35,424) (51,477)
(92,595) (82,148) (91,246)
(137,540) (117,572) (142,723)
5,045 27,990 55,940
93,955 23,695 141,568
(12,541) (1,784) (10,496)
(6,791) (2,353) (4,216)
93,955 23,695 141,568
(22,443) (4,775) (40,882)
71,512 18,920 100,686
5.36 1.42 7.55

MITED

2019 2020 2021

71,512 18,920 100,686

-12,480 14,384 9,913

-2,875
538,518
59,032 33,304 646,242

AL INFORMATION
2018 2019 2020
3 2 1.5
121 74 69
400029 266686 200014.5
1625990 1826257 918704
1,612,676 1,959,600 1,052,047
133343 133343 133343
18.50% 23.80% 20.10%
39817 45257 51747
928 431 7010
- 0 32875
42735 48727 32318
9.51673503670984 9.65944219044119 9.70920108292149
193,846 185,531 214,005
6.58 5.36 1.42
2018
 2021
6
88
800058
1261855
1,331,759
133343
28.80%
42244
29986
145221
57519
14.4056755885198
354,863
7.5
 Thal Limited
Thal Limited - Ratios
Liquidity Ratios
Current ratio (times)
Quick ratio (times)
Assets Management Ratios
Inventory turnover (times)
Receivables turnover (times)
Payables turnover (times)
Days Sales Outstanding (days)
Days Sales Of Inventory (days)
Days Payable Outstanding (days)
Operating Cycle (days) - DSI+DSO
Cash Conversion cycle (days) - DSI+DSO-DPO
Total Asset Turnover (times)
Fixed Asset turnover (times)
Debt Management Ratio
Debt to Asset Ratio
Debt to Equity ratio
Long term debt ratio
Times Interest Earned Ratio (times)
Profatibility Ratios
Gross Profit Margin
Net Profit Margin
Operating Profit Margin
Return On Total Assets (EBIT(1-T)/Total Assets)
Return On Common Equity
Market Value Ratios
Price to earning ratio (times)
Market to Book Ratio (times)
Dividend Yield Ratio
Dividend Payout Ratio
Dividend Cover (times)

Solvency Ratio

Thal Limited
Balance Sheet
 ASSETS
Non-current assets
Property, plant and equipment
Right-of-use-assets
Intangible Assets
Investment Property
Long-tern investments
Long-term loans
Long-term deposits
Deferred tax asset
Total Non Current Assets
Current Assets
Inventory (Consumable stores and spares + Stock in trade)
Trade and other receivables
Loans and Advances
Trade deposits and short-term prepayments
Interest accrued
Other receivables
Financial Assets (Short term Investments)
Tax refund due from Government-Income Tax
Sales tax refundable
Cash and Bank Balances
Current portion of long term debts
Assets clasified held for sale
Total Current Assets
non current assets classified as held for sale
Total Assets

EQUITY AND LIABILITIES

Share Capital and Reserves
Issued, subscribed and paid-up ordinary share capital
Ordinary Shares of Rupees 5 each
Share subscription money against right share issuance
Capital Reserves
Reserve for shares to be issued pursuant to scheme of arrangement
Reserve arising as a consequence of scheme of arrangement
Share premium account
Surplus on revaluation of property, plant and equipment
Capital Reserves as per statement
Revenue Reserves
General Reserves
Unappropriated profit
Accumulated Profit / (Loss)
Directors’ loans - related parties
Deposit for purchase of shares
Total Equity
Non-current liabilities
Long term deposits
Long term borrowing
Lease Liability
Deferred Income
Total Non-Current Liabilities
Current liabilities
Trade and other payables
Contract liabilities
Short term running finance
Accrued mark-up on secured borrowings
Current portion of long term finance (loan from related party)
Current Portion of deferred income
Current portion of lease liability
Sales tax payable
Income Tax - net
Unpaid dividend
Unclaimed dividend
Total Current Liabilities
Total Equity and Liabilities

Thal Limited - Statement of Comprehensive Income For the year ended 30th June

Revene from contract with customers- net of sales tax and other government levies

Net Sales

Cost of Revenue
Gross Profit

Operating Expenses
Administrative and General expenses
Selling and Distribution expenses
Other operating expenses
Total Operating Expenses
Other Income
Profit from operations (EBIT)

Finance costs

Profit/ (Loss) before taxation

Taxation
Profit/ (Loss) after taxation
Earnings / (Loss) per share of Rs 10 each - Basic and Diluted

Other comprehensive income

Items that will never be reclassified to statement of profit or loss:

Surplus on revaluation of property, plant and equipment

Gain/loss on long-term equity investments
Deferred tax surplus on revaluation of property, plant and equipment
Gain/loss on revaluation of available-for-sale items
Total Comprehensive Income for the year

Additional Informati
Dividend per share (Rs)
Price per share (Rs) on 30th June (Year End) 20XX
Total Dividend (Rs)
Credit Purchases (Closing Inv + COGS - Opening Inv)
Cost of Revenue
Number of shares (Issued, subscribed and paid-up ordinary share capital)
Deferred Tax Rate
Depreciation (Excluding Rights-of-use Assets)
Trade Receivables from contracts with customers - local
Trade Creditors
Accrued Liabilities (for calculating payables turnover ratio)
Book value per share (Rs)
Total Debt (For Debt related ratios)
 Thal Limited
Thal Limited - Ratios
2017 2018 2019 2020 2021

5.84 4.67 4.82 4.22 3.24

4.33 3.02 2.59 2.36 1.76

4.47 4.40 3.70 2.46 3.35

127.30 45.49 35.36 33.13 38.43
27.43 11.84 12.65 8.85 11.40
2.87 8.02 10.32 11.02 9.50
81.58 82.90 98.63 148.67 109.02
13.30 30.82 28.86 41.24 32.03
81.58 90.93 108.95 159.68 118.51
68.28 60.11 80.09 118.44 86.49
1.97 1.06 1.11 0.73 1.02
33.60 15.88 12.44 6.26 8.00

52.43% 3.17% 0.00% 807.69% 1591.93%

59.20% 3.65% 0.00% 931.94% 1966.75%
0.01% 0.01% 0.01% 0.07% 0.04%
640.99 429.85 443.08 141.27 132.31

21.22% 18.98% 18.58% 15.40% 17.09%

23.16% 13.92% 14.10% 11.25% 12.75%
31.86% 19.76% 19.42% 14.39% 16.86%
22.23% 14.31% 14.53% 7.03% 11.07%
25.70% 16.34% 16.93% 8.93% 14.57%

12.38 13.41 9.12 7.56 18.36

3.18 2.19 1.58 1.26 1.43
1.03% 3.60% 2.34% 1.54% 2.36%
12.77% 48.27% 21.29% 11.64% 43.40%
8 2 5 9 2

2017 2018 As at June

2019 30th 2020 2021
Rs 000s Rs 000s Rs 000s Rs 000s Rs 000s
 1,019,171 1,410,212 2,187,780 3,118,492 3,710,820
- - - - -
9,788 15,094 90,745 172,696 120,776
1,009 1,002 995 990 985
4,143,986 4,938,387 5,431,550 5,795,615 8,007,397
411,425 788,428 861,282 1,927,286 275,000
13,964 13,396 14,861 16,259 20,378
186,642 191,151 165,194 204,927 218,793
5,785,985 7,357,670 8,752,407 11,236,265 12,354,149

3,015,440 4,085,486 5,760,015 5,680,971 7,847,876

1,041,399 1,519,728 2,347,946 2,507,538 3,231,174
63,911 72,696 21,860 42,056 103,160
78,321 141,318 316,623 186,006 452,711
1,683 2,088 3,699 21,898 20,582
76,738 35,611 71,168 185,009 620,919
6,707,942 4,847,238 2,943,298 1,201,165 2,802,265
72,269 62,828 93,918 - -
61,254 91,517 300,186 - -
522,284 701,283 611,509 3,055,379 2,096,373
- - - - -
- - - - 5,000
11,641,241 11,559,793 12,470,222 12,880,022 17,180,060

17,427,226 18,917,463 21,222,629 24,116,287 29,534,209

500,000 1,000,000 1,000,000 1,000,000 1,000,000

405,150 405,150 405,150 405,150 405,150

- - - - -
- - - - -
- - - - -
- - - - -
55,704 55,704 55,704 1,006,915 1,006,915

11,165,499 13,531,499 15,123,499 17,629,999 19,089,999

3,662,802 2,281,141 2,952,475 1,743,690 3,158,159
143,925 164,176 94,631 115,399 245,410
- - - - -
-
15,433,080 16,437,670 18,631,459 20,901,153 23,905,633

1,624 2,379 1,463 16,927 11,887

149,355 185,242
- - - - 100,550
 - - - - 22,309
1,624 2,379 1,463 166,282 319,988

1,983,384 2,379,148 2,483,601 2,669,016 4,335,229

- - - - -
9,137 600 - 145,000 361,000
1 - - 263 3,651
- - - 49,786 109,164
- - - - 4,394
- - - 8,443 17,140
- - - 41,873 86,116
- - - 23,022 266,396
- 47,954 49,409 45,252 36,242
- 49,712 56,697 66,197 89,256
1,992,522 2,477,414 2,589,707 3,048,852 5,308,588
17,427,226 18,917,463 21,222,629 24,116,287 29,534,209

r the year ended 30th June

2017 2018 2019 2020 2021
Rs 000s Rs 000s Rs 000s Rs 000s Rs 000s
17,124,373 19,292,959 22,374,364 16,600,416 27,317,188

17,124,373 19,292,959 22,374,364 16,600,416 27,317,188

(13,491,348) (15,631,677) (18,217,120) (14,044,677) (22,648,317)

3,633,025 3,661,282 4,157,244 2,555,739 4,668,871

(741,843) (814,266) (753,584) (773,316) (877,675)

(185,653) (219,219) (288,353) (349,227) (544,689)
(345,370) (261,582) (291,994) (158,313) (263,208)
(1,272,866) (1,295,067) (1,333,931) (1,280,856) (1,685,572)
3,095,347 1,446,166 1,521,134 1,113,631 1,623,453
5,455,506 3,812,381 4,344,447 2,388,514 4,606,752

(8,511) (8,869) (9,805) (16,908) (34,817)

5,446,995 3,803,512 4,334,642 2,371,606 4,571,935

(1,480,711) (1,117,542) - 1,179,977 (504,448) (1,089,670)
3,966,284 2,685,970 3,154,665 1,867,158 3,482,265
48.95 33.15 39.93 42.97 23.04
 - - - - -
- - - 20,768 130,011
- - - - -
49,517 20,251 -69545.00 -
4,015,801 2,706,221 3,085,120 1,887,926 3,612,276

Additional Information
2017 2018 2019 2020 2021
6 16 9 5.00 10
606 444.50 364.00 325.00 423.00
506,437,500 1,296,480,000 688,755,000 405,150,000 810,300,000
16,506,788,000 16,701,723,000 19,891,649,000 13,965,633,000 24,815,222,000
13,491,348 15,631,677 18,217,120 14,044,677 22,648,317
81,030,000 81,030,000 81,030,000 81,030,000 81,030,000
29% 29% 29% 29% 29%
1,427,676,000 1,610,300,000 1,850,836,000 2,253,548,000 2,740,816,000
269,049,000 579,197,000 686,298,000 315,852,000 1,105,721,000
302,398,000 573,820,000 655,368,000 641,038,000 1,396,108,000
900,968,000 1,043,210,000 873,708,000 985,753,000 1,331,824,000
190.46 202.86 229.93 257.94 295.02
9,137,000 600,000 - 194,786,000 470,164,000
2021
-
-
-
-
-
-
-
-
-

-
-
-
-
-
-
-
-
-
-
-
-
-

-
-

-
-
-
-
-

-
-
-
-

-
 -
-

-
-
-
-
-

-
-
-
-

2021

-
-
-

-
-

-
-
-
-
-
-

-
-
-
-
 -

2021
-
-
-
-
-
0
0%
0
0
0
0
-
-
-
Note: Figures NOT in thousands
 Loads Limited - Ratios
2017
Liquidity Ratios
Current ratio (times) 6.73
Quick ratio (times) 3.27
Assets Management Ratios
Inventory turnover (times) -
Receivables turnover (times) -
Payables turnover (times) -
Days Sales Outstanding (days) -
Days Sales Of Inventory (days) -
Days Payable Outstanding (days) -
Operating Cycle (days) - DSI+DSO -
Cash Conversion cycle (days) - DSI+DSO-DPO -
Total Asset Turnover (times) -
Fixed Asset turnover (times) -
Debt Management Ratio
Debt to Asset Ratio 11.73%
Debt to Equity ratio 13.29%
Long term debt ratio 0.00%
Times Interest Earned Ratio (times) 8.68
Profatibility Ratios
Gross Profit Margin 12.43%
Net Profit Margin 6.96%
Operating Profit Margin 9.01%
Return On Total Assets (EBIT(1-T)/Total Assets) 7.31%
Return On Common Equity 9.01%
Market Value Ratios
Price to earning ratio (times) 22.40
Market to Book Ratio (times) 2.49
Dividend Yield Ratio 1.93%
Dividend Payout Ratio 43.29%
Dividend Cover (times) 2.31

Solvency Ratio

Balance Sheet

2017
ASSETS
Non-current assets
Property, plant and equipment 782,307,297
Intangible Assets 2,088,635
Long term investments 639,025,429
Long-term loans and Recievables 27,386,282
Employee benefits - gratuity -
Deferred tax assets -
Total Non Current Assets 1,450,807,643
Current Assets
Stores and spares / Inventory 54,094,440
Stock-in-trade 1,181,967,494
Trade debts - net 223,972,326
Loans and advances 92,413,727
Due from related party -
Deposits, prepayments and other receivables 191,474,809
Taxation - net 175,784,003
Short-term Investments 107,436,273
Current maturity of long term receivables 33,547,375
Cash and bank balances 343,121,346
Total Current Assets 2,403,811,793
Total Assets 3,854,619,436

EQUITY AND LIABILITIES

Share Capital and Reserves
Authorised capital
400,000,000 ordinary shares of Rs.10 each 2,000,000,000
Issued, subscribed and paid up capital 1,375,000,000
Share premium 1,095,352,578
Fair value reserve 33,726,169
Unappropriated profit 898,499,945
Equity attributable to owners of the Parent Company 3,402,578,692

Non controlling Interests -

Total Equity 3,402,578,692

LIABILITIES

Non-current liabilities
Lease liabilities 8,935,018
Defined benefit obligation - net -
Long term loans -
Deferred tax liabilities 85,589,139
Deferred grant -
Gas Infrastructure Development Cess -
Employee benefits - gratuity 287,395
Total Non-Current Liabilities 94,811,552

Current liabilities
Current maturity of lease liabilities 13,258,088
Current portion of long-term loans -
Current portion of deferred grant -
Short-term borrowings 28,395,236
Trade and other payables 313,567,792
Due to related party -
Unclaimed dividend 1,420,509
Accrued mark-up on short-term financing 587,567
Total Current Liabilities 357,229,192
Total Equity and Liabilities 3,854,619,436

Loads Limited Statement of Comprehensive Income

For the year ended 30th June
2017

Revene - net 4,405,126,503

Cost of Sales (3,857,544,318)

Gross Profit 547,582,185

Operating Expenses
Administrative, selling and general expenses (185,265,945)
Reversal / (impairment loss) on trade receivables -
Other expenses (28,532,034)
Other income 63,192,051
Total Operating Expenses (150,605,928)

Operating profit / (loss) 396,976,257

Finance costs (45,751,375)

Share of profit / (loss) in associate - net 13,029,143
Provision for reversal / (Impairment) against associate -
Unrealised loss on re-measurement of investments at fair value through profi 13,477,480
Profit/ (Loss) before taxation 377,731,505
Taxation (71,304,206)
Profit/ (Loss) after taxation 306,427,299

Profit / (loss) attributable to:

Owners of the Parent Company 306,427,299
Non-controlling interests -
306,427,299
Earnings / (Loss) per share - Basic and Diluted 2

Loss for the year 306,427,299

Other comprehensive income

Items that are or may be reclassified subsequently to profit or loss

Unrealised loss on re-measurement of available-for-sale-investments 9,920,314

Items that will never be reclassified to statement of profit or loss:

Re-measurement gain / (loss) on defined benefit obligation (3,548,495)
Related tax 1,064,549
(2,483,946)

Change in fair value of equity investments at FVOCI - net of tax -

Share of other comprehensive income / (loss) in associate - net of tax -
Total comprehensive income / (loss) for the year 313,863,667

Total comprehensive income / (loss) attributable to

Owners of the Parent Company 313,863,667
Non-controlling interests -
313,863,667

Additional Information
2017
Dividend per share (Rs) 1
Price per share (Rs) on 30th June (Year End) 20XX 52
Total Dividend (Rs) 137,500,000
Credit Purchases (Closing Inv + COGS - Opening Inv) -
Cost of Goods Sold 3,857,544,318
Number of shares (Issued, subscribed and paid-up ordinary share capital) 137,500,000
Deferred Tax Rate 29%
Depreciation (Excluding Rights-of-use Assets) 94,090,000
Trade Receivables from contracts with customers - local 223,972,326
Trade Creditors 173,607,391
Accrued Liabilities (for calculating payables turnover ratio) 40,503,866
Book value per share (Rs) 20.78
Total Debt (For Debt related ratios) 452,041,000
imited - Ratios
2018 2019 2020 2021

1.78 0.85 0.91 0.93

0.86 0.48 0.42 0.45

5.94 6.39 3.73 5.79

17.01 11.99 5.97 11.72
42.39 33.83 22.05 39.20
21.45 30.44 61.10 31.14
61.48 57.10 97.88 63.07
8.61 10.79 16.55 9.31
82.93 87.55 158.98 94.21
74.32 76.76 142.43 84.90
1.04 0.86 0.36 0.58
3.67 1.91 0.61 0.93

34.67% 53.69% 60.33% 51.61%

53.06% 115.96% 152.05% 106.64%
0.00% 2.16% 22.16% 15.49%
3.75 1.98 - 0.79 0.78

10.65% 11.16% 1.88% 10.58%

3.30% -0.99% -23.28% -0.08%
6.97% 6.54% -6.70% 5.64%
4.33% 3.43% -1.69% 2.25%
4.42% -1.57% -20.88% -0.09%

37.84 -67.14 -4.41 60.62

1.91 1.24 1.30 1.07
0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00%
- - - -

eet
As at 30th June 2021

2018 2019 2020 2021

1,879,663,053 4,109,086,166 4,932,529,642 5,255,653,540
2,248,940 1,138,159 344,797 -
399,117,546 278,706,019 158,738,930 327,621,735
18,257,596 6,897,737 7,261,530 8,303,878
5,317,208 - - -
- - 9,501,130 -
2,304,604,343 4,395,828,081 5,108,376,029 5,591,579,153

44,933,529 61,971,605 76,560,562 70,811,900

1,662,758,743 1,404,712,679 1,381,183,851 1,387,034,758
350,809,641 601,589,094 328,704,079 476,303,736
155,422,463 69,088,671 67,822,902 132,827,429
- - 1,150,380 1,150,380
247,070,821 984,855,361 575,981,421 512,011,961
165,957,057 123,339,561 163,120,742 206,232,180
74,292,038 34,735,199 9,001,861 925,552
47,104,408 13,995,364 - -
535,897,253 32,771,396 95,281,712 25,171,422
3,284,245,953 3,327,058,930 2,698,807,510 2,812,469,318
5,588,850,296 7,722,887,011 7,807,183,539 8,404,048,471

2,000,000,000 2,000,000,000 4,000,000,000 4,000,000,000

1,512,500,000 1,512,500,000 1,512,500,000 2,512,500,000
1,095,352,578 1,095,352,578 1,095,352,578 1,070,065,433
13,240,378 (3,392,943) (1,815,876) (1,819,906)
696,944,970 641,560,112 231,917,852 288,483,538
3,318,037,926 3,246,019,747 2,837,954,554 3,869,229,065

333,304,662 330,115,497 259,467,794 197,754,752

3,651,342,588 3,576,135,244 3,097,422,348 4,066,983,817

5,014,204 1,665,777 663,416 910,322

- 10,467,240 16,149,322 4,535,710
- 166,666,667 1,730,349,971 1,301,462,356
91,325,057 69,986,776 - 17,053,867
- - 2,646,769 424,227
- - - 1,668,081
- - - -
 96,339,261 248,786,460 1,749,809,478 1,326,054,563

14,049,148 4,104,846 1,077,125 839,504

- - 43,170,962 543,658,900
- - 4,829,455 5,770,074
1,439,632,009 3,274,028,285 2,088,194,296 1,844,976,781
364,664,760 501,533,063 491,985,880 513,330,155
- 33,818,656 162,803,871 22,048,871
3,574,008 3,535,500 3,526,379 3,527,781
19,248,522 80,944,957 164,363,745 76,858,025
1,841,168,447 3,897,965,307 2,959,951,713 3,011,010,091
5,588,850,296 7,722,887,011 7,807,183,539 8,404,048,471

For the year ended 30th June

2018 2019 2020 2021

4,889,663,855 5,709,735,175 2,778,630,637 4,717,228,398

(4,369,075,348) (5,072,556,256) (2,726,360,719) (4,218,274,392)

520,588,507 637,178,919 52,269,918 498,954,006

(227,024,830) (258,502,409) (239,016,127) (256,180,587)

- - (12,347,172) 12,347,172
(36,322,302) (34,958,382) (3,044,586) (38,095,825)
83,668,622 29,513,184 15,905,563 49,191,548
(179,678,510) (263,947,607) (238,502,322) (232,737,692)

340,909,997 373,231,312 (186,232,404) 266,216,314

(90,961,193) (188,328,868) (235,609,302) (340,314,043)

2,679,323 (109,254,552) (172,850,982) 26,197,334
- (15,206,745) (122,991,403) 138,198,148
(7,534,489) - - -
245,093,638 60,441,147 (717,684,091) 90,297,753
(83,536,858) (116,700,981) 70,955,369 (93,855,526)
161,556,780 (56,259,834) (646,728,722) (3,557,773)

154,911,054 (53,070,669) (576,081,019) 58,155,269

6,645,726 (3,189,165) (70,647,703) (61,713,042)
161,556,780 (56,259,834) (646,728,722) (3,557,773)
 1 (0) (3) 0

161,556,780 (56,259,834) (646,728,722) (3,557,773)

(20,485,791) - - -

(11,613,554) (14,150,802) (2,418,212) 6,714,823

3,367,931 4,103,733 701,281 (1,947,298)
(8,245,623) (10,047,069) (1,716,931) 4,767,525

- (16,633,321) 1,384,926 (4,030)

(2,051,470) (3,532,640) 168,347,831 (6,357,108)
130,773,896 (86,472,864) (478,712,896) (5,151,386)

124,128,170 (83,283,699) (408,065,193) 56,561,656

6,645,726 (3,189,165) (70,647,703) (61,713,042)
130,773,896 (86,472,864) (478,712,896) (5,151,386)

nal Information
2018 2019 2020 2021
- - - -
38.60 23.50 14.29 17.58
- - - -
4,840,705,686 4,831,548,268 2,717,420,848 4,218,376,637
4,369,075,348 5,072,556,256 2,726,360,719 4,218,274,392
151,250,000 151,250,000 151,250,000 251,250,000
29% 29% 29% 29%
104,140,000 105,820,000 101,180,000 89,950,000
350,809,641 601,589,094 328,704,079 476,303,736
201,308,490 257,046,750 60,945,680 172,889,862
41,397,171 71,438,429 103,457,441 93,208,332
20.21 18.95 10.99 16.43
1,937,507,000 4,146,751,000 4,709,760,000 4,337,065,000
 2017 2018 2019 2020
Liquidity Ratios
Current ratio (times) 5.30 4.24 4.11 3.80
Quick ratio (times) 3.08 2.22 2.11 2.01
Assets Management Ratios
Inventory turnover (times) - 4.52 - 1.97 - 2.20 - 1.05
Receivables turnover (times) 238.91 41.71 38.92 21.29
Payables turnover (times) 27.63 26.59 23.53 18.24
Days Sales Outstanding (days) 5.15 12.94 18.92 28.39
Days Sales Of Inventory (days) 49.79 57.20 68.27 77.76
Days Payable Outstanding (days) 19.61 17.19 21.85 22.18
Operating Cycle (days) - DSI+DSO 54.94 70.14 87.19 106.14
Cash Conversion cycle (days) - DSI+DSO-DPO 67.54 52.95 65.33 83.97
Total Asset Turnover (times) 1.18 1.37 1.14 0.84
Fixed Asset turnover (times) 7.94 5.98 3.99 3.08
Debt Management Ratio
Debt to Asset Ratio 14.64% 20.43% 184.25% 340.79%
Debt to Equity ratio 18.79% 31.78% 226.36% 438.89%
Long term debt ratio 0.60% 0.72% 1.26% 8.53%
Times Interest Earned Ratio (times) 482.800362 494.7676236 438.5169565 19.957778
Profatibility Ratios
Gross Profit Margin 17.62% 14.81% 12.14% 8.73%
Net Profit Margin 9.64% 7.42% 4.11% -2.63%
Operating Profit Margin 13.24% 10.42% 7.00% 2.55%
Return On Total Assets (EBIT(1-T)/Total Assets) 12.88% 9.42% 5.45% 2.33%
Return On Common Equity 15.48% 11.28% 4.46% -2.67%
Market Value Ratios
Price to earning ratio (times) 12.51 15.29 - 8.89 0.18
Market to Book Ratio (times) 1.73 3.56 2.23 2.30
Dividend Yield Ratio 0.05 0.03 0.02 0.01
Dividend Payout Ratio 0.43 0.27 0.15 0.25
Dividend Cover (times) 2.35 3.24 3.73 - 0.13

Solvency Ratio
 2021

2.89
1.65

21.90
38.68
22.94
16.90
49.22
18.80
66.11
47.32
1.52
3.43

45.12%
73.13%
12.51%
69.2713934

13.20%
4.68%
8.22%
10.44%
11.71%

20.94
2.40
0.05
0.39
2.17