COMPARATIVE STATEMENT OF FINANCIAL CONDITION (TRADING / INDUSTRIAL CONCERNS)

NAME: Dewan cement factory Location : Location :

Amount In "Million" Currency: Pk.Rs Auditor: Usman
Audited/Unaudited Specify: Audited Audited Audited Audited Audited
Unqualified. Qualified Explain On Page 4
Date (Day. Month. Year) 2019 2020 2021 2022
Description Key Amount Key Amount Key Amount Key Amount Key

FINANCIAL SUMMARY

NET SALES 12,054,025 5,832,951 6,259,915.000 16,518,299.000

NET INCOME 131,317,000.000 (1,324,465) (666,438.000) (703,032.000)
Net Income/Net Sales % -2.28% -22.71% -10.65% -4.26%
WORKING CAPITAL (2,238,349.000) (3,746,177) (3,533,036.000) (2,599,469.000)
Current Ratio 0.56 0.40 0.44 0.64
Days Trade Debtors (Incl. Bills Discounted) 10 22 24 21
Days Trade Creditors (CGS Basis) 20 33 36 14
Days Stocks (CGS Basis) 6 9 13 8
TANGIBLE NET WORTH #REF! #REF! #REF! #REF!
Leverage (Total Liab./Tan. Net Worth) #REF! #REF! - #REF! #REF!

BALANCE SHEET

ASSETS
1 Stores, spare parts and loose tools 1,322,484 1,334,162 1,337,135 1,900,950 42.2%
2 Stock-in-trade 471,698 115,844 271,939 601,641
3 Trade debts 313,952 343,599 405,216 956,518 136.1%
4 Investments 170,093 151,980 212,451 348,664 64.1%
5 Loan and advances 13,183 9,269 19,857 21,643 9.0%
6 Cash and bank balances 121,986 101,443 113,306 93,114 -17.8%
7 Income tax receivable 476,165.0 399,488 383,495 642,755 67.6%
8 TOTAL CURRENT ASSETS 2,889,561 2,455,785 2,743,399 4,565,285 66.4%
9 Property, plant and equipment 26,865,212 34,740,048 34,054,273 33,198,499 -2.5%
10 Investments 128,256.000 128,256 127,881 132,881 3.9%
11 Long term loans to employees 12,147 0 - 4,242 #DIV/0!
12 Long term deposits - 8,750 6,233 0 -100.0%
15 TOTAL NON-CURRENT ASSETS 27,005,615 34,877,054 34,188,387 33,335,622 -2.5%
16 TOTAL ASSETS 29,895,176 37,332,839 36,931,786 37,900,907 2.6%
LIABILITIES
17 Trade and other payables 1,563,824 2,802,986 2,856,559 3,907,568 36.8%
18 Accrued markup 579,159 579,159 579,159 579,159 0.0%
19 Short term borrowings - secure 792,661 792,661 792,661 792,661 0.0%
20 Current portion of non-current liabilities 2,030,270 2,012,450 2,033,350 1,870,660 -8.0%
21 Unclaimed dividend 12,927 12,926 12,926 12,926 0.0%
22 Provision for taxation 1,780 1,780 1,780 1,780
23 Employee benefits obligations 147,289 0 - #DIV/0!
24 TOTAL CURRENT LIABILITIES 5,127,910 6,201,962 6,276,435 7,164,754 14.2%
25 Long term finances - secured 122,207 79,958 36,359 116,299 219.9%
26 Long term deposits 3,110,000 3,110,000 3,110,000 2,910,000 -6.4%
27 Deferred liabilities 946,553 770,685 704,585 1,119,656 58.9%
28 Deferred taxation 3,571,394 5,568,419 5,869,030 6,972,287.000 18.8%
29
31 TOTAL NON-CURRENT LIABILITIES 7,750,154.000 9,529,062 9,719,974 11,118,242 14.4%
32 TOTAL LIABILITIES 12,878,064.000 15,731,024 15,996,409 18,282,996 14.3%
NET WORTH
33 Issued, subscribed and paid up capital (Capital reserve) 4,841,133 4,841,133 4,841,133 4,841,133
34 Revaluation surplus on property, plant and equipment (Revenue reserve) 5,413,615 4,243,709 3,972,237 3,581,982 -9.8%
35 Retained earnings #VALUE!
36 Non controlling interest 629,444 629,444.000 629,444.000 10,565,352.000 1578.5%
37 Other Reserve 6,132,920 11,887,529.000 11,492,563.000 629,444.000
38 Retained Earnings (P & L Account) -
39 Surplus on Revaluation of Fixed Assets
40 TOTAL NET WORTH 17,017,112 21,601,815 20,935,377 19,617,911 -6.3%
41 TOTAL LIAB. & NET WORTH 29,895,176 37,332,839 36,931,786 37,900,907 2.6%
42 Contingent Liabilities (Excl. Bills Disc) - - - -
43 - - - -
CHECK 1 1 1 1
 (2) Page 3/4 Page 3/4
NAME: 0

Amount: in (Million) Date 2019 2020 2021 2022

Currency :Pk.Rs No.Of Months 12 % 12 % 12 % 12 %
DESCRIPTION Key Amount Sales Amount Sales Amount Sales Amount Sales

INCOME STATEMENT

44 NET SALES / REVENUE 163.9% 12,054,025 100% 5,832,951 100% 6,259,915 100% 16,518,299 100%
45 Cost of Goods Sold / Revenue 159.2% 10,826,727 90% 6,349,360 109% 5,900,233 94% 15,293,538 93%
46 Selling. Gen. And Admin. Expenses 74.8% 840,309 7% 928,303 16% 634,674 10% 1,109,536 7%
47
48 Profit Loss from Operations \ -141.9% 386,989 3% (1,444,712) -25% (274,992) -4% 115,225 1%
49 Finance cost 120.4% (20,742) -12,703 (12,415) -27,366
50 Net impairment losses on financial assets - 0% #VALUE! #VALUE! #VALUE!
51
52 Other Income 397.9% 3,551 0% 3,274 0% 19,479 0% 96,995 1%
53
54 Other Expense/W.P.P.F 4491.1% (91,334) -11% -24,449 -3% (4,000) -1% -183,645 -17%
55
56 #DIV/0! - 0% 0% 0% 0%
57 0.0% 0.0% 0.0% 0.0%
58 #DIV/0! - - - -
59
60 Profit Before Tax -100.4% 278,464 2% (1,478,590) -25% (271,928) -4% 1,209 0%
61 Tax credit / (expenses) 78.5% (553,768) -5% 154,125 3% (394,510) -6% -704,241 -4%
62 - #VALUE! #VALUE! #VALUE!
63 - - - -
64 NET INCOME 5.5% (275,304) -2% (1,324,465) -22.7% (666,438) -10.6% (703,032) -4.3%

BALANCE SHEET RECONCILIATIONS

NET WORTH
65 OPENING NET WORTH - 17,017,112 21,601,815.000 20,935,377.000
66 Plus Net Income (275,304.000) 29,895,176 (666,438.000) (703,032.000)
67 Increase in Paid-up Capital 10,254,748.000 (1,169,906) (271,472.000) (390,255.000)
68 Other Specify Equity #VALUE! #VALUE! #VALUE! #VALUE!
69 Surplus on Revaluation of Fixed Assets - - - -
70 TOTAL ADDITIONS #VALUE! #VALUE! #VALUE! #VALUE!
71 Less: Dividends Declared/Drawings - - - -
72 Other : - - - -
73
74 TOTAL DEDUCTIONS - - - -
75 Increase (Decrease) Net Worth #VALUE! #VALUE! #VALUE! #VALUE!
76 ENDING NET WORTH #VALUE! #VALUE! #VALUE! #VALUE!
CHECK #VALUE! #VALUE! #VALUE! #VALUE!
FIXED ASSETS
77 Opening Net Fixed Assets - 26,877,359 34,740,048.000 34,054,273.000
78 Less: Depreciation For Period (20,742.000) 128,256 (12,415.000) (27,366.000)
79 Sub-Total 20,742.000 26,749,103 34,752,463.000 34,081,639.000
80 Ending Net Fixed Assets 26,877,359.000 34,740,048 34,054,273.000 33,202,741.000
80A Reval N/ Write Down During Period - - - -
80B Sub-Total 26,877,359.000 34,740,048.000 34,054,273.000 33,202,741.000
81 Capital Expend (Net of Sale Of Assets) 26,856,617.000 7,990,945.000 (698,190.000) (878,898.000)
82 Plus: Sale of Assets - - - -
83 Gross Capital Expenditures 26,856,617.000 7,990,945.000 (698,190.000) (878,898.000)

ANALYTICAL AND COMPARATIVE RATIOS

DESCRIPTION Key
OPERATING RATIOS
84 Net Sales Growth Rate - % #DIV/0! -51.61% 7.32% 163.87%
85 Net Income/Net Sales - % -2.28% -22.71% -10.65% -4.26%
86 Net Income/Tang. Net Worth - % -1.62% -6.13% -3.18% -3.58%
87 Net Fixed Assets / Net Sales % 222.87% 595.58% 544.01% 200.98%
LIQUIDITY RATIOS
88 Current Ratio 0.56 0.40 0.44 0.64
89 Quick Assets Ratio 0.5 0.4 0.4 0.6
90 Days Trade Debtors (Inc. Bills Discounted) 10 22 24 21
90A Days Trade Creditors (CGS Basis) 20 33 36 14
91 Days Stocks (CGS Basis) 6 9 13 8
LEVERAGE RATIOS
92 Leverage (Total Liab/Tang. Net. Worth) 0.76 0.73 0.76 0.93
93 L.T Leverage(LT.Debt/Tang. Net Worth) 0.01 0.00 0.00 0.01
 (3) Page 4/4 Page 4/4

COMPARATIVE STATEMENT OF FINANCIAL CONDITION

OPERATING / NON- OPERATING CASH GENERATION STATEMENT

Name: 0
Amount: in (Million) Date 2019 2020 2021 2022
Currency: :Pk. Rs. No.Of Months 12 12 12 12
DESCRIPTIION Key Amount Amount Amount Amount
NET OPERATING CASH GENERATION
94 Net Income (275,304.000) (1,324,465.000) (666,438.000) (703,032.000)
95 Depreciation (20,742.000) (12,703.000) (12,415.000) (27,366.000)
96 Other Non-Cash Charges -
97 GROSS OPERATING FUND GENERATION (296,046.000) #VALUE! #VALUE! #VALUE!
98 Less: Operating Cash Needs
99 Inc/(Dec) Reo. Cash - - - -
100 Inc/(Dec) Net Trade Debtors (Inc.B/Dis) 313,952.00 29,647.00 61,617.00 551,302.00
101 Inc./(Dec) Stocks 170,093.00 (18,113.00) 60,471.00 136,213.00
102 Inc./(Dec) Prepaid Expenses 476,165.00 (76,677.00) (15,993.00) 259,260.00
103 Inc./(Dec) Stores and Spares 13,183.00 (3,914.00) 10,588.00 1,786.00
104 Inc./(Dec) other receivables 121,986.00 (20,543.00) 11,863.00 (20,192.00)
105
106 TOTAL OPERATING NEEDS 1,095,379.00 (89,600.00) 128,546.00 928,369.00
107 Plus: Operating Cash Sources
108 Inc./(Dec) Trade Creditors 579,159.00 - - -
109 Inc./(Dec) Accruals 792,661.00 - - -
110 Inc./(Dec) Prov. For Taxes 2,030,270.00 (17,820.00) 20,900.00 (162,690.00)
111 1,780.00 - - -
112
113
114 TOTAL OPERATING SOURCES 3,403,870.00 (17,820.00) 20,900.00 (162,690.00)
115 NET OPERATING CASH GENERATION 2,012,445.00 #VALUE! #VALUE! #VALUE!
NON-OPERATING CASH NEEDS
116 Less: Non-Operating Cash Needs
117 Capital Expenditures 26,856,617.00 7,990,945.00 (698,190.00) (878,898.00)
118 Dividends Paid /Drawings (12,927.00) 1.00 - -
119 Dec. in Long Term Debt (If Positive) 0 365,406.00 109,699.00 0
120 Dec. in Short Term Debt (And Bills Dis) (If Positive) 0 0 0 0
121 Inv. And Adv. Subs. And Affil. 128,256.00 - (375.00) 5,000.00
122 Long Term Deposit - 8,750.00 (2,517.00) (6,233.00)
123 #REF! #REF! #REF! #REF!
124 Intangible #REF! #REF! #REF! #REF!
125 TOTAL NON-OPERATING NEEDS #REF! #REF! #REF! #REF!
NON-OPERATING CASH SOURCES
126 Plus: Non-Operating Cash Sources
127 Inc. In Paid-up Capital 10,254,748.00 (1,169,906.00) (271,472.00) (390,255.00)
128 Inc. in Long Term Debt (If Positive) 4,326,049.00 0 0 295,011.00
129 Inc. in Short Term Debt (And Bills Dis) (If Positive) 1,563,824.00 1,239,162.00 53,573.00 1,051,009.00
130 Sale of Assets - - - -
131 Liabilities against leased assets 3,571,394.00 1,997,025.00 300,611.00 1,103,257.00
132 - - - -
133 Other Specify - Equity #VALUE! #VALUE! #VALUE! #VALUE!
134 Deffered Liabilities #REF! #REF! #REF! #REF!
135 TOTAL NON-OPERATING SOURCES #VALUE! #VALUE! #VALUE! #VALUE!

NET INC./(DEC.) IN CASH & MARKETABLE SECURITIES. #REF! #VALUE! #VALUE! #VALUE!
136
If Difference #REF! #VALUE! #VALUE! #VALUE!
Actual 1794182.00 -344176.00 159068.00 893517.00
No Manual Entry Required / Blocked Cells For Interim Financials, Days to be Changed Accordingly
 short spread Page 1/4

Dewan cement factory

Financial Highlights
0
Financials for the year ended Trend Analysis Vertical Analysis
2019 2020 2021 2022
Audited Audited Audited Audited 2018 2019 2020 2018 2019 2020
Profit & Loss A/C
Sales 12,054,025.000 5,832,951.000 6,259,915.000 16,518,299.000 -52% 7% 164% 100% 100% 100%
COGS 10,805,985.000 6,336,657.000 5,887,818.000 15,266,172.000 -41% -7% 159% 109% 94% 92%
Gross Profit 1,248,040.000 (503,706.000) 372,097.000 1,252,127.000 -140% -174% 237% -8.6% 5.9% 7.6%
Selling & Admin Expenses 840,309.000 928,303.000 634,674.000 1,109,536.000 10% -32% 75% 15.9% 10.1% 6.7%
Depriciation (20,742.000) (12,703.000) (12,415.000) (27,366.000) -39% -2% 120% -0.2% -0.2% -0.2%
EBIT 278,464.000 (1,478,590.000) (271,928.000) 1,209.000 -631% -82% -100% -25.3% -4.3% 0.0%
Interest/Financial charges - - - - #DIV/0! #DIV/0! #DIV/0! 0.0% 0.0% 0.0%
Net Profit after Tax (275,304.000) (1,324,465.000) (666,438.000) (703,032.000) 381% -50% 5% -22.7% -10.6% -4.3%

Balance Sheet
Total Current Assets 2,889,561.000 2,455,785.000 2,743,399.000 4,565,285.000 -15% 12% 66% 7% 7% 12%
Total Current Liabilities 5,127,910.000 6,201,962.000 6,276,435.000 7,164,754.000 21% 1% 14% 17% 17% 19%
Net Working Capital (2,238,349.000) (3,746,177.000) (3,533,036.000) (2,599,469.000) 67% -6% -26% -10% -10% -7%
Short termBank Borrowings 1,563,824.000 2,802,986.000 2,856,559.000 3,907,568.000 79% 2% 37% 8% 8% 10%
Current Portion of L.T.D 147,289.000 - - - -100% #DIV/0! #DIV/0! 0% 0% 0%
Total Long Term Debts #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF!
Total Fixed Assets 26,865,212.000 34,740,048.000 34,054,273.000 33,198,499.000 29% -2% -3% 93% 92% 88%
Total Liabilities(S.T & L.T) 12,878,064.000 15,731,024.000 15,996,409.000 18,282,996.000 22% 2% 14% 42% 43% 48%
Equity 17,017,112.000 21,601,815.000 20,935,377.000 19,617,911.000 27% -3% -6% 58% 57% 52%
Balance Sheet Footing 29,895,176.000 37,332,839.000 36,931,786.000 37,900,907.000 25% -1% 3% 100% 100% 100%
Important Ratios
Current Ratio 0.56 0.40 0.44 0.64
Current Ratio (SBP) 0.58 0.40 0.44 0.64 N/A N/A N/A N/A N/A N/A
Debt (LT) to Equity ratio #REF! #REF! #REF! #REF! N/A N/A N/A N/A N/A N/A
Leverage 0.76 0.73 0.76 0.93 N/A N/A N/A N/A N/A N/A
Return on Equity -1.6% -6.1% -3% -4% N/A N/A N/A N/A N/A N/A
Interest Coverage #DIV/0! #DIV/0! #DIV/0! #DIV/0!
Debt Service coverage (EBIT) 1.89059603907963 #DIV/0! #DIV/0! #DIV/0!
Debt Service coverage (EBITDA) 1.74977085865204 #DIV/0! #DIV/0! #DIV/0!
Days Stock 6 9 13 8 N/A N/A N/A N/A N/A N/A
Days Debtors 10 22 24 21 N/A N/A N/A N/A N/A N/A
Days Creditors 20 33 36 14 N/A N/A N/A N/A N/A N/A
Operating Cycle 15 30 37 29 N/A N/A N/A N/A N/A N/A
Working Capital Requirement* 486301.264780338 601849.754407 657069.918070634 1321596.4921663

SALES NET PROFIT AFTER TAX

18,000,000.000 -
16,000,000.000
14,000,000.000
(500,000.000)
12,000,000.000
10,000,000.000
Row 9 (1,000,000.000) Row 16
8,000,000.000
6,000,000.000
(1,500,000.000)
4,000,000.000
1
2,000,000.000 2
- 3
1 2 3 4 4

NET WORKING CAPITAL BANK BORROWINGS

-
(500,000.000) 4,000,000.000
(1,000,000.000) 3,000,000.000
(1,500,000.000)
2,000,000.000
(2,000,000.000)
Row 21 Row 22
1,000,000.000
(2,500,000.000)
(3,000,000.000) -
(3,500,000.000) 1
(4,000,000.000) 2
1 3
2 3 4 4

* For Interim Financials, No. Days to be Changed accordingly