2013 2014

Sales MT
rate of change
Sales MT/month
Sales Rs./MT(Thousands)
Sales Thousands 49,819,601.00 84,856,454.00
Other revenue Thousands 46,988.00 57,358.00
rate of change 22%
Net revenue Thousands 49,866,589.00 84,913,812.00
CGS Thousands 48,506,431.00 82,877,017.00
Percentage of sales 97% 98%
G.Profit Thousands 1,360,158.00 2,036,795.00
Distribution & Marketing Thousands 591,642.00 768,814.00
Admin Expenses Thousands 229,252.00 329,387.00
Other Opera. Income Thousands 39,735.00 298,691.00
Other Opera. Expenses Thousands 43,477.00 108,456.00
Profit from operations/EBIT Thousands 535,522.00 1,128,829.00
Finance cost Thousands 110,476.00 264,086.00
PBT Thousands 425,046.00 864,743.00
Tax Thousands 33,495.00 224,686.00
Net Profit Thousands 391,551.00 640,057.00
 Income Statement

2015 2016 2017 2018 2019F

1,273,388.00 1,862,649.00 2,592,188.00 2,577,937.00 2,100,310.29
46.28% 39.17% -0.55% -18.53%
106,115.67 155,220.75 216,015.67 214,828.08 175,025.86
60.29 53.42 67.02 90.62 93.98
76,773,937.00 99,508,194.00 173,739,173.00 233,607,420.00 197,396,615.98
82,831.00 199,280.00 500,460.00 836,711.00 1,845,367.41
44% 141% 151% 67% 121%
76,856,768.00 99,707,474.00 174,239,633.00 234,444,131.00 199,241,983.39
74,017,815.00 94,999,669.00 166,850,657.00 224,167,482.00 187,863,786.12
96% 95% 96% 96% 95%
2,838,953.00 4,707,805.00 7,388,976.00 10,276,649.00 11,378,197.28
1,053,474.00 1,763,478.00 2,666,666.00 3,925,143.00 4,413,270.00
366,238.00 528,636.00 611,439.00 882,969.00 949,443.30
210,541.00 211,496.00 417,481.00 527,342.00 532,382.80
83,409.00 40,594.00 1,286,868.00 4,019,735.00 3,815,617.50
1,546,373.00 2,586,593.00 3,241,484.00 1,976,144.00 2,732,249.28
349,652.00 432,618.00 582,785.00 1,324,262.00 1,296,726.10
1,196,721.00 2,153,975.00 2,658,699.00 651,882.00 1,435,523.18
63,484.00 938,349.00 1,257,451.00 444,739.00 430,656.95
1,133,237.00 1,215,626.00 1,401,248.00 207,143.00 1,004,866.22

46.28% 39.17% -0.55% -18.53%

 2020F 2021F 2022F 2023F 2024F
1,219,442.49
-41.94%
101,620.21
104.44
127,361,851.93
4,215,525.79
128%
131,577,377.73
120,728,309.39
95% 94% 94% 94% 93%
10,849,068.34
2,913,270
1,123,968.14
690,305.80
5,805,188.00
1,696,948.00
1,742,548.10
(45,600.10)
(13,680.03)
(31,920.07)
Margin Ratios
Gross Profit Margin 2.73% 2.40%
Operating Margin 1.07% 1.33%
EBT Margin 0.85% 1.02%
EAT Margin 0.79% 0.75%

Liquidity Ratios:
Current Ratio Times 0.86 0.91
Quick Ratio Times 0.45 0.62
Total Liability to T.Equity Times 7.3 4.5

Activity Ratios:
T.Asset Turnover Times 2 3.2
Fixed Assets turnover Times 8.6 12.9
Stock turnover ratio Times 8 8.9
Interest cover(BT) Times 3.7 56.1
Interest cover(AT) Times 2.3 29.2
No. of days stock Times 45 41

Earnings:
Return on Capital employed % 18.5 57.2
ROE(Befor. Tax) % 42.1 111.7
ROE(After Tax) % 19.6 57.2

EPS(Before Tax) Rs. 3.7 14.7

EPS(After Tax) Rs. 1.7 7.5
Price Earning Ratio Times 17.1 7.3
Divident Ordinary Shares Rs. 0.3 3
Divident Payout Ratio % 17.6 39.9
Retension Ratio % 82.4 60.1
Growth Rate % 16.15 34.38
Dividend per share 0.3
Dividend 27,180
 3.69% 4.72% 4.24% 4.38%
2.01% 2.59% 1.86% 0.84%
1.56% 2.16% 1.53% 0.28%
1.47% 1.22% 0.80% 0.09%

0.89 0.96 0.96 0.87

0.47 0.49 0.54 0.47
4.6 7.8 5.2 7.6

2.7 2.5 1.2 1.6

12.9 10.6 12.6 17
7 7.1 10.1 10.9
202.8 741.8 369.4 655.8
170.4 509.6 262.7 449.6
52 51 36 33

84.2 54.5 58.4 43.1

100.3 79.3 82.2 62.9
84.2 54.5 58.4 43.1

26.4 36.3 60.5 66.4

22.1 24.9 43 45.5
8.3 10.1 17.5 10.5
5 7 13 26.9
22.6 28.1 30.3 59.2
77.4 71.9 69.7 40.8
65.17 39.19 40.7 17.58
3 5 7 17.18
362,038 603,396 101,371 3,109,889