BALANCE SHEET

as at June 30, 2014

Note

2014

2013

2012

Rupees

Restated

Restated

ASSETS

NON - CURRENT ASSETS

Property, plant & equipment

4

2,865,374,803

2,423,557,366

1,834,918,045

Long-term investments

5

431,000

200,000

Long-term deposits & loans

6

19,007,848

17,423,312

16,566,790

Deferred tax asset

7

3,095,976

Total non current assets

2,884,382,651

2,444,507,654

1,851,684,835

CURRENT ASSETS

Stores, spare parts & loose tools

189,241,050

140,461,702

335,687,028

Stock-in-trade

8

2,683,315,636

472,975,469

433,629,823

Trade debts

9

321,049,463

230,560,623

563,403,354

Advances

10

294,549,694

73,039,104

192,034,139

Short term prepayments & other receivables

11

13,939,045

13,460,039

157,660,258

Refunds due from the Government

12

569,897,941

490,060,059

457,656,834

Short term investments

22,406,535

Cash and bank balances

13

117,345,747

103,953,771

19,791,071

Total Current Assets

4,189,338,576

1,524,510,767

2,182,269,042

TOTAL ASSETS

7,073,721,227

3,969,018,421

4,033,953,877

EQUITY AND LIABILITIES

SHARE CAPITAL & RESERVES

Share capital

14

820,411,530

820,411,530

586,395,530

(Deficit) on remeasurement of available

for sale investments to fair value

15

(569,000)

(800,000)

Revenue reserve

16

505,906,156

128,667,062

148,598,974

Shareholders Equity

1,326,317,686

948,509,592

734,194,504

NON - CURRENT LIABILITIES

Long term financing - banking companies

17

254,645,565

162,396,104

248,556,812

Long term loans from related parties

18

1,834,464,178

1,322,254,092

916,957,858

Deferred liabilities

19

39,968,644

15,579,684

10,411,112

Total non current liabilities

2,129,078,387

1,500,229,880

1,175,925,782

CURRENT LIABILITIES

Trade and other payables

20

586,300,571

265,530,404

646,514,432

Mark-up accrued on secured loans

21

40,512,933

28,062,301

40,118,603

Short term borrowings

22

2,802,741,491

1,070,950,036

1,322,906,915

Current maturity of long term financing

17

188,770,159

155,736,208

114,293,641

Total current liabilities

3,618,325,154

1,520,278,949

2,123,833,591

Total liabilities

5,747,403,541

3,020,508,829

3,299,759,373

CONTINGENCIES AND COMMITMENTS

23

TOTAL EQUITY & LIABILITIES

7,073,721,227

3,969,018,421

4,033,953,877

CASH FLOW STATEMENT

for the year ended June 30, 2014

Rupees

Re-stated

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before taxation

397,630,248

124,564,985

Adjustments for non cash items:

Depreciation

76,873,432

51,443,556

Finance costs

217,599,894

152,270,740

Loss on de-recognition of available for sale investments

561,600

Retirement benefit charge

6,215,282

4,174,599

Provision for workers profit participation fund

20,927,908

6,161,494

322,178,116

214,050,389

Profit before working capital changes

719,808,364

338,615,374

Working capital changes

(Increase) / Decrease In Current Assets

Stores, spare parts & loose tools

(48,779,348)

195,225,326

Stock in trade

(2,210,340,167)

(39,345,646)

Trade debts

(90,488,841)

332,842,731

Advances

(221,510,590)

118,995,035

Short term prepayments & other receivables

139,174

Refunds due from the Government

36,578,612

175,609,181

(2,534,401,160)

783,326,627

Increase / (Decrease) In Current Liabilities

Trade and other payables

306,003,753

(381,065,940)

Cash (utilized) / generated from operations

(1,508,589,042)

740,876,061

Finance cost paid

(205,149,263)

(164,327,042)

Workers profit participation fund paid

(6,161,494)

(6,079,581)

Retirement benefits paid

(383,544)

Long term security deposits

560,530

(856,523)

Income tax paid

(116,416,494)

(63,812,187)

(327,550,265)

(235,075,333)

Net cash (utilized) / generated from operating activities

(1,836,139,308)

505,800,728

CASH FLOWS FROM INVESTING ACTIVITIES

Payments for capital work in progress

(300,345,525)

(503,895,949)

Sale proceeds from disposal of short term investments

22,406,535

Sale proceeds from disposal of available for sale investments

438,400

Payments for capital expenditure in property, plant & equipment

(218,345,344)

(136,186,928)

Net cash (out flow) from investing activities

(518,252,469)

(617,676,342)

CASH FLOWS FROM FINANCING ACTIVITIES

Long term financing - net

125,283,412

(44,718,141)

Long term loans from related parties - net

512,210,086

405,296,234

Share issue costs

(1,501,200)

87,417,100

Net cash inflow from financing activities

635,992,298

447,995,193

NET (DECREASE) / INCREASE IN CASH AND CASH EQUIVALENTS

(1,718,399,479)

336,119,579

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR

(966,996,265)

(1,303,115,844)

CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR

32

(2,685,395,744)

(966,996,265)

The annexed notes form an integral part of these financial statements.

1. Explain the attached firms report with the following ratios, profitability, liquidity, activity, debt, and market. 2. Interpret each ratio and also draw an diagram. 3. Explain which year is good for the firm and why?