Unilever Pakistan Limited

Statement of Profit or Loss

For the year ended 31 December 2023

2022 2021
Sales 28,309,317 19,820,946
Cost of sales (16,359,841) (10,904,750)
Gross Profit 11,949,476 8,916,196
Distribution cost (3,702,303) (2,840,376)
Administrative expenses (556,120) (486,020)
Operating Profit 7,691,053 5,589,800
Other operating expenses (564,935) (371,223)
Other income 1,380,154 283,410
EBIT 8,506,272 5,501,987
Finance cost (139,905) (79,151)
EBT 8,366,367 5,422,836
Taxation (413,964) (253,359)
Net Income 7,952,403 5,169,477
Unilever Pakistan Limited
Statement of Financial Position
As as 31 December 2023
in 000'
2022 2021

ASSETS
Non-current assets

Property, plant and equipment 6,201,699 4,053,993

Right-of-use asset 25,029 46,511
Intangible assets 81,637 81,637
Long term deposits 2,980 2,980
Long term loans and advances - 1,144
Total non-current assets 6,311,345 4,186,265

Current assets

Stores and spares 197,796 196,537

Stock-in-trade 2,918,231 1,327,888
Trade debts-net 1,029,752 519,372
Loans and advances 26,175 3,531
Trade deposits and short-term prepayments 212,553 82,055
Other receivables 239,536 96,045
Sales tax refubndable-net 775,332 142,810
Taxation-net 552,969 536,557
Short term investments 5,771,861 -
Cash and bank balances 2,581,565 3,297,755
Total current assets 14,305,770 6,202,550

Total assets 20,617,115 10,388,815

EQUITY AND LIABILITIES

Share capital and reserves

Share capital 63,699 63,699

Reserves 7,450,332 2,905,867
Total share capital and reserves 7,514,031 2,969,566

Liabilities

Non-current Liabilities
Staff retirement benefits 53,150 15,513
Long term borrowings 491,122 168,619
Deferred income - government grant 223,780 29,271
Lease liabilities - 20,571
Deferred taxation 412,719 357,704
Total non-current liability 1,180,771 591,678

Current liabilities

Trade and other payables 9,475,192 5,257,887

Current portion of deferred income-government grant 38,694 2,252
Current portion of lease liabilities 22,252 387
Current portion of long term borrowings 21,368 -
Provisions 123,861 124,524
Unpaid dividend 2,205,067 1,416,018
Unclaimed dividend 29,991 24,627
Accrued interest / markup 5,888 1,876
Total current liability 11,922,313 6,827,571

Total equities and liabilities 20,617,115 10,388,815

Statement of Profit or Loss
For the year ended 31 December 2023
in 000'
2022 % of sales 2023F
Sales 28,309,317 Incraesed by 25 % 35,386,646
Cost of sales (16,359,841) 57.79% (20,449,801)
Gross Profit 11,949,476 14,936,845
Distribution cost (3,702,303) 13.08% (4,627,879)
Administrative expenses (556,120) 1.96% (695,150)
Operating Profit 7,691,053 9,613,816
Other operating expenses (564,935) 2.00% (706,169)
Other income 1,380,154 4.88% 1,725,193
EBIT 8,506,272 10,632,840
Finance cost (139,905) 0.49% (174,881.25)
EBT 8,366,367 10,457,959
Taxation (413,964) 1.46% (517,455)
Net Income 7,952,403 9,940,504
Statement of Financial Position
As as 31 December 2023
in 000'

2022 % of sales 2023 (first pass)

ASSETS
Non-current assets

Property, plant and equipment 6,201,699 21.91% 7,752,124

Right-of-use asset 25,029 0.09% 31,286
Intangible assets 81,637 0.29% 102,046
Long term deposits 2,980 0.01% 3,725
Long term loans and advances - 0.00% -
Total non-current assets 6,311,345 7,889,181

Current assets

Stores and spares 197,796 0.70% 247,245

Stock-in-trade 2,918,231 10.31% 3,647,789
Trade debts-net 1,029,752 3.64% 1,287,190
Loans and advances 26,175 0.09% 32,719
Trade deposits and short-term prepayments 212,553 0.75% 265,691
Other receivables 239,536 0.85% 299,420
Sales tax refubndable-net 775,332 2.74% 969,165
Taxation-net 552,969 1.95% 691,211
Short term investments 5,771,861 20.39% 7,214,826
Cash and bank balances 2,581,565 9.12% 3,226,956
Total current assets 14,305,770 17,882,213

Total assets 20,617,115 25,771,394

EQUITY AND LIABILITIES

Share capital and reserves

Share capital 63,699 0.23% 79,624

Reserves 7,450,332 26.32% 9,312,915
Total share capital and reserves 7,514,031 9,392,539

Liabilities

Non-current Liabilities
Staff retirement benefits 53,150 0.19% 66,438
Long term borrowings 491,122 1.73% 491,122
Deferred income - government grant 223,780 0.79% 279,725
Lease liabilities - 0.00% -
Deferred taxation 412,719 1.46% 515,899
Total non-current liability 1,180,771 1,353,183

Current liabilities

Trade and other payables 9,475,192 33.47% 11,843,990

Current portion of deferred income-government gran 38,694 0.14% 48,368
Current portion of lease liabilities 22,252 0.08% 27,815
Current portion of long term borrowings 21,368 0.08% 26,710
Provisions 123,861 0.44% 154,826
Unpaid dividend 2,205,067 7.79% 2,756,334
Unclaimed dividend 29,991 0.11% 37,489
Accrued interest / markup 5,888 0.02% 7,360
Total current liability 11,922,313 14,902,891

Total equities and liabilities 20,617,115 25,648,613

- (122,781)
 2023 (second
AFN pass)

7,752,124
31,286
102,046
3,725
-
7,889,181

247,245
3,647,789
1,287,190
32,719
265,691
299,420
969,165
691,211
7,214,826
3,226,956
17,882,213

25,771,394

79,624
9,312,915
9,392,539
 66,438
122,781 613,903
279,725
-
515,899
1,475,964

11,843,990
48,368
27,815
26,710
154,826
2,756,334
37,489
7,360
14,902,891

25,771,394
-