I

FINANCIAL SPREADS

COMPANY NAME : Reliance Weaving Mills Ltd.

AUDITOR NAME : Kamran Iqbal Yousafi
LOCATION
: Multan

SPREAD DATE

30-6-08
AUDITED
UN QUALIFIED

KEY FIGURES
SALES
GROSS PROFIT
OPERATING PROFIT
NET INCOME
TOTAL ASSETS
NET WORTH

3465708939
315768739
170069666
-100565270
4119950499
805423417

ANNUAL GROWTH %
SALES
GROSS PROFIT
OPERATING PROFIT
NET INCOME
TOTAL ASSETS
NET WORTH

1.902693596
-8.843970653
-29.25625756
-415.073579
20.11483241
-13.61488781

CASH FLOW
CFO
NEW EQUITY
CAPEX
NET BORROWING

PROFITABILITY RATIOS
GROSS PROFIT RATIO
OPERATING PROFIT /SALES
NET PROFIT MARGIN
ROE
RETURN ON NETWORTH

9.111230763
4.907211454
-2.901722902
-13.0872209
-12.48601268

TURN OVER EFFICENCY

AVERAGE COLLECTION PERIOD
AVERAGE PAYMENT PERIOD
DAYS INVENTORY
ASSET TURN OVER

26.10351434
6.847337631
120.8904648
0.841201597
0.841201597

LIQUIDITY RATIOS
CURRENT RATIO
QUICK RATIO

0.842418406
0.352416379

LEVERAGE
TOTAL LIABILITY /NET WORTH
TOTAL LONG TERM LIABILITIES/ NET WORTH
TOTAL DEBT/NET WORTH
ADJUST LEVERAGE
DEBT COVERAGE SERVICE RATIO
INTEREST COVERAGE RATIO
TOTAL LIABILITIES /TOTAL ASSETS
TOTAL LONG TERM LIABILITIES /TOTAL ASSETS
FIXED ASSETS /LONG TERM BORROWINGS

4.161198956
0.747926342
3.882753054
4.161198956
0.780351215
0.813487221
0.146214715
2.946184354

BALANCE SHEETS
COMPANY NAME : Reliance Weaving Mills Ltd.
AUDITOR NAME : Kamran Iqbal Yousafi
LOCATION
: Multan

30-6-08
AUDITED
UN QUALIFIED
CASH & MARKETABLE SECURITES
SHORT TERM INVESTMENT
RECEIVABLES
INVENTORY
STORE AND SPARES
ADVANCES TO ASSOCIATED UNDERWRITINGS
PREPAID EXPENSES

75671608
254681368
344840968
1343145328
145022670
77264004
2268482

DISPUTED TAX/CED PAYMENTS

OTHER CURRENT ASSETS

TOTAL CURRENT ASSETS

50464326
15795667

2309154421

NET FIXED ASSETS

CAPITAL WORK IN PROGRESS
LONG TERM DEPOITS
DEFFERED COST
LONG TERM INVESTMENTS
LONG TERM LOANS /FINANCES
OTHER LONG TERM ASSETS
INTANGIBLE ASSETS

1714059694
93396295
2421340

918749

TOTAL LONG TERM ASSETS

1810796078

DEFFERED TAX ASSET

TOTAL ASSETS

4119950499

SHORT TERM DEBTS

ACCOUNT PAYABLES
ACCRUED MARK UP ON LOANS
ACCRUED EXPENSES
TAXES PAYABLES
WPPF
ADVANCES FROM ASSOCIATED UNDER WRITING
OTHER CURRENT LIABILTIES
LONG TERM DEBTS - CURRENT PORTION

TOTAL CURRENT LIABLITIES

LONG TERM SENIOR DEBT
FINANCE LEASE OBLIGATION
REDEEMABLE CAPITAL
DIRECTORS LOANS

TOTAL LONG TERM DEBT

LONG TERM DEPOSITS
OTHER LONG TERM LIABILTIES

TOTAL LONG TERM LIABILITIES

2261986114
73088398
64608293
38916037

19018312
283484424

2741101578
544789694

37000000

581789694

20607696

602397390

LABOUR AND PENSION PROVISIONS

OTHER DEFFERED PROVISIONS

TOTAL DEFFERED LIABILITIES

8028114

TOTAL LIABILITIES

3351527082

MINORITY INTEREST
DEFFERED TAXES

TOTAL NEAR EQUITY

SURPLUS REVALUATION ON FIXED ASSETS
PAID UP CAPITAL
RESERVES
SUBORDINATE DIRECTOR LOANS
RETAINED EARNING
TOTAL EQUITY

308109370
395081250
37000000
65232797
768423417

TOTAL NET WORTH

805423417

NEAR EQUITY AND NET WORTH

TOTAL LIABILITES AND EQUITY

BALANCE SHEET CHECK

768423417

4119950499
CORRECT

INCOME STATEMENTS
COMPANY NAME : Reliance Weaving Mills Ltd.
AUDITOR NAME : Kamran Iqbal Yousafi
LOCATION
: Multan

30-6-08
AUDITED
UN QUALIFIED
NET SALES
COST OF GOOD SOLD

3465708939
3149940200

GROSS PROFIT
ADMIN,SELLING &GENERAL ESPENSES
DEPRECIATION
OTHER NON CASH EXPENSES

315768739

OPERATING PROFIT

170069666

GAIN ON SALE OF FIXED ASSETS

OTHER NON -OPERATING INCOME
OTHER INCOME
INTEREST INCOME

141702423
3881839
114811

45097
57624832
59471788

PROFIT BEFORE INTEREST AND TAXES

INTEREST
OPERATING LEASE EXPENSES

PROFIT BEFORE TAX

TAX CURRENT PAYABLE
DEFFERED TAX
PRIOR YEAR ADJUSTMENTS

PROFIT PRE EXTRA ORDINARY ITEMS

287211383
368053996

-80842613
26417516
-6694859

-100565270

EXTRA ORDINARY INCOMES

EXTRA ORDINARY TAXES
PRIOR YEAR ADJUSTMENTS

NET INCOME

-100565270

NET WORTH RECONC

OPENING NET WORTH

PLUS : NET INCOME
BONUS SHARED ISSUED
SALE OF EQUITY
ASSET REVAUATION
SUBORDINATED DIRECTOR'S LOAN - INC/(DEC)
INVESTMENT/FIX TRANSLATION -GAIN/LOSS
TOTAL ADDITIONS
LESS:

DIVIDENDS
BONUS SHARES ISSUED

ENDING NET WORTH

932363687
-100565270
0
0
0
-26375000
0
805423417
0
0
805423417

FIXED ASSET RECONC

OPENING NET FIXED ASSETS

PLUS : FIXED ASSETS ACQUIRED
CHANGE IN CAPITAL WORK IN PROGRESS
REVALUATION AND FIX ADJUSTMENTS
TOTAL ADDITIONS
LESS: DEPRECIATION FOR THE PERIOD
CASH RECEIVED-GAIN ON FIXED ASSET
TOTAL DEDUCTIONS
ENDING NET FIXED ASSETS

1906640987
71646080
4926179
1983213246
173930127
1827130
175757257
1807455989

CASH FLOW STATEM

CFO
CASH GENERATED FROM OPERATIONS
FINANCE COST PAID
TAX PAID NET
STAFF RETIREMENT BENEFIT PAID

NET CASH (USED IN ) /GENERATED FROM OPERATIONS

CFI
FIXED CAPITAL EXPENDITURE
PROCEED FROM DISPOSAL OF PP&E
LONG TERM INVESTMENT
SHORT TERM INVESTMENT MADE
NET CASH IN INVESING ACTIVITIES

CFF
PROCEED FROM LONG TERM FINANCING
REPAYMENT OF LONG TERM FINANCING
REPAYMENT OF LONG TERM FINANCING -RELATED PARTY

NET CASH (USED IN ) /GENERATED FROM FINANCING

WORKINGS

BALANCE SHEET 2007

CASH & MARKETABLE SECURITES
SHORT TERM INVESTMENT
RECEIVABLES
INVENTORY
STORE AND SPARES
ADVANCES TO ASSOCIATED UNDERWRITINGS
PREPAID EXPENSES
DISPUTED TAX/CED PAYMENTS
OTHER CURRENT ASSETS

TOTAL CURRENT ASSETS

NET FIXED ASSETS
CAPITAL WORK IN PROGRESS
LONG TERM DEPOITS
DEFFERED COST
LONG TERM INVESTMENTS
LONG TERM LOANS /FINANCES
OTHER LONG TERM ASSETS
INTANGIBLE ASSETS

41794462
125667584
157754493
772397644
103050338
187188985
1122041
45560675
15378052

1449914274
1817889055
88751932
2421340
69999586

1033593

TOTAL LONG TERM ASSETS

1980095506

DEFFERED TAX ASSET

TOTAL ASSETS
SHORT TERM DEBTS
ACCOUNT PAYABLES
ACCRUED MARK UP ON LOANS
ACCRUED EXPENSES
TAXES PAYABLES
WPPF
ADVANCES FROM ASSOCIATED UNDER WRITING
OTHER CURRENT LIABILTIES
LONG TERM DEBTS - CURRENT PORTION

TOTAL CURRENT LIABLITIES

LONG TERM SENIOR DEBT
FINANCE LEASE OBLIGATION
REDEEMABLE CAPITAL
DIRECTORS LOANS

TOTAL LONG TERM DEBT

LONG TERM DEPOSITS
OTHER LONG TERM LIABILTIES

TOTAL LONG TERM LIABILITIES

3430009780
1336646814
68449414
56488753
36068951
9526351
14543762
255419164

1777143209
691305972

63375000

754680972
20607696

775288668

LABOUR AND PENSION PROVISIONS

OTHER DEFFERED PROVISIONS

TOTAL DEFFERED LIABILITIES

TOTAL LIABILITIES

8589216

2561021093

MINORITY INTEREST
DEFFERED TAXES

TOTAL NEAR EQUITY

SURPLUS REVALUATION ON FIXED ASSETS
PAID UP CAPITAL
RESERVES
SUBORDINATE DIRECTOR LOANS
RETAINED EARNING
TOTAL EQUITY

TOTAL NET WORTH

NEAR EQUITY AND NET WORTH

308109370
395081250
63375000
165798067
868988687
932363687
932363687

TOTAL LIABILITES AND EQUITY

BALANCE SHEET CHECK

3430009780
CORRECT

INCOME STATEMENT 2007

KEY FIGURES OF INCOME STATEMENT
SALES
GROSS PROFIT
OPERATING PROFIT
NET INCOME

3400998361
346404666
240402416
31918027

SPREADS
SPREAD DATE

30-6-09
AUDITED
UN QUALIFIED

30-6-10
AUDITED
UN QUALIFIED

30-6-11
AUDITED
UN QUALIFIED

4337454782
672287336
456748388
-177039406
4126720952
1080655393

6773391678
1163376962
928052999
403152554
4281949946
1526438439

9993572791
1350803642
1077047389
503699246
5596806140
1947449616

25.15346379
112.904969
168.5654642
-76.0442805
0.164333358
34.17233348

56.16051391
73.04757947
103.1869238
327.7191068
3.761557804
41.25117488

47.54163447
16.11057173
16.05451307
24.94011039
30.70694918
27.58127457

15.49958143
10.53033198
-4.081642689
-29.93645461
-16.38259589

17.17569303
13.70145184
5.952004153
38.8705514
26.41132087

13.5167239
10.77740075
5.040231922
33.77407786
25.86455854

22.5318392
9.18194221
121.1927995
1.051065684
1.051065684

14.9863444
7.395899355
66.97100261
1.581847467
1.581847467

16.94081403
6.232520862
54.87167226
1.785584946
1.785584946

0.788603046
0.297548524

0.82897031
0.415199961

0.916189732
0.369262371

2.852959027
0.724541745
2.574884564
4.906339921

1.829429498
0.296231491
1.608788034
2.59969945

1.875867028
0.294491616
1.606479067
2.44329167

0.730406992
0.747098143
0.189734163
2.980940386

2.063884263
0.652158839
0.105601219
5.137133964

2.251002958
0.652721647
0.102470511
4.82790569

BALANCE SHEETS

30-6-09
AUDITED
UN QUALIFIED
18233319
179681368
198108108
1124587468
121409577
94332540
1295193

30-6-10
AUDITED
UN QUALIFIED
36074276
225923857
365827339
962680922
138241056
119544047
399990

30-6-11
AUDITED
UN QUALIFIED
19442430
171856384
574724095
1672003501
184565485
122929033
711879

65335600
3034414

76976959
3019541

53987361
649837

1806017587

1928687987

2800870005

2272586223
11914579
6880340

2322904792
12220182
15400340

2768840533
3561155
15713425

803905

689061

574217

2292185047

2351214375

2788689330

28518318

2047584

7246805

4126720952

4281949946

5596806140

1949206748
102725880
108344263
44337588

1759218920
121127785
85032085
70741285

2296531238
202689475
101203541
103493542

25583908

61496676

14549497
70983894

20585007
244317841

33172437
258498220

2290147870

2326606831

3057085129

725372248

382912500
32266635

543464674
26242911

37000000

37000000

3800000

762372248

452179135

573507585

782979944

452179135

573507585

9937745

13725541

22563810

20607696

3083065559

2792511507

3653156524

452271382
308109370
295081250
37000000
-11806609
591384011

452271382
308109370
337711742
37000000
391345945
1037167057

452271382
308109370
288223673
3800000
895045191
1491378234

1080655393

1526438439

1947449616

1080655393

1526438439

1947449616

4163720952

4318949946

5600606140

CORRECT

CORRECT

CORRECT

30-6-10
AUDITED
UN QUALIFIED

30-6-11
AUDITED
UN QUALIFIED

ATEMENTS

30-6-09
AUDITED
UN QUALIFIED
4337454782
3665167446

6773391678
5610014716

9993572791
8642769149

672287336

1163376962

1350803642

211323590
4100514
114844

231169663
4039456
114844

268480079
5161330
114844

456748388

928052999

1077047389

671123

564629

3514118

15048015

52455

3508615

472467526

928670083

1084070122

646855152

449102116
860171

475541407
6052861

-174387626

478707796

602475854

31834802
-29044459
-138563

46695344
23739987
5119911

101245082
-2468474

-177039406

403152554

503699246

-177039406

403152554

503699246

NET WORTH RECONCILATION

805423417
-177039406
0
0
452271382
0
0

1080655393
403152554
0
0
0
0
0

1526438439
503699246
0
0
0
-33200000
0

1080655393

1483807947

1996937685

0
0

0
0

0
0

1080655393

1483807947

1996937685

FIXED ASSET RECONCILATION

1807455989
194105393
-81481716
452271382
2372351048

2284500802
147874185
305603

2335124974
592542662
-8659027

2432680590

2919008609

85684507
2165739
87850246

92531361
5024255
97555616

112139496
34467425
146606921

2284500802

2335124974

2772401688

CASH FLOW STATEMENTS

WORKINGS

EET 2007