Documente Academic
Documente Profesional
Documente Cultură
France, 3,376
Germany, 5,469
Italy, 1,427
UK, 1,819
Others, 12,939
Spain, 2,855
Canada, 2,626
Japan, 10,257
USA, 12,272
Korea, 3,148
Brazil, 1,775
Honda Pakistan:
Joint venture between Honda and the Atlas Group.
Hyundai Pakistan:
Dewan Mushtaq Group diversified its business activities.
manufactured.
Market leader in 1000+cc Sedans in the
Pakistan.
2006
2007
2008
2009
000
000
% Change
000
% Change
000
% Change
Sales
35,236,535
39,061,226
10.9%
41,423,843
6.0%
37,864,604
-8.59
Cost of Sales
31,088,906
34,620,632
11.4%
37,575,356
8.5%
35540418
-5.412
Gross Profit
4,147,629
4,440,594
7.1%
3,848,487
-13.3%
2324186
-39.6
Distribution &
Marketing
Expenses
404,917
509,986
25.9%
487,373
-4.4%
469985
-3.56
Administrative
Expenses
242,456
265,302
9.4%
297,284
12.1%
352249
18.48
Other Operating
Income
1,021,212
935,290
-8.4%
786,834
-15.9%
727080
-7.59
Other Operating
Expense
321,746
348,430
8.3%
306,193
-12.1%
156479
-48.8
Profit/Loss From
Operations
4,199,722
4,252,166
1.2%
3,544,471
-16.6%
2072553
-41.5
Finance Costs
126,945
22,685
-82.1%
2,760
-87.8%
26540
861.5
Profit/Loss Before
Taxation
4,072,777
4,229,481
3.8%
3,541,711
-16.3%
2046013
-42.2
Taxation
1,424,313
1,483,780
4.2%
1,250,866
-15.7%
660911
-47.16
Profit/Loss For
The Year
2,648,464
2,745,701
3.7%
2,290,845
-16.6%
1385102
-39.53
Honda Pakistan:
Income Statement Analysis (Vertical & Horizontal)
Years
2006
2007
2008
2009
000
000
% Change
000
% Change
000
% Change
Sales
25,638,698
17,055,115
-33.5%
14,715,495
-13.7%
14149646
-3.84
Cost of Sales
22,471,184
16,955,181
-24.5%
14,088,001
-16.9%
13973144
-0.81
Gross Profit
1,167,514
99,934
-91.4%
627,494
527.9%
176502
-71.8
Distribution &
Market Expenses
149,877
214,889
43.4%
209,677
-2.4%
190088
-9.34
Admin Expenses
134,518
147,274
9.5%
139,163
-5.5%
139749
0.42
Other Operating
Income
377,865
150,585
-60.1%
23,589
-84.3%
64844
174.89
Other Operating
Expense
80,924
64,514
-20.3%
4,975
-92.3%
311025
6151.7
Profit/Loss From
Operations
1,180,060
(176,158)
-114.9%
297,268
-268.8%
-399516
-234.3
Finance Costs
46,356
305,416
558.8%
233,651
-23.5%
222769
-4.65
Profit/Loss Before
Taxation
1,133,704
(481,649)
-142.5%
63,617
-113.2%
-6222285
-9880.85
Taxation
428,410
217,109
-49.3%
11,393
-94.8%
220452
1834.9
705,294
(264,540)
-137.5%
75,010
-128.4%
-401833
-635.7
786,000
Reserves
5,471,879
Non-Current Liabilities
Liabilities against
lease finance
Deferred Taxation
Current Liabilities
Trade and Other
Payables
Advances from
Customers
Mark up Accrued on
Loans
Current Portion of
Liabilities against
lease finance
Taxation
Contingencies and
Commitments
Total Liabilities and
Equity
786,000
0.0%
786,000
0.0%
7,257,975
32.6%
8,650,340
19.2%
3,871
116,164
-100.0%
210,149
80.9%
532,138
2009
000
786000
9510973
9.94
503700
-5.34
41.14
501.0
540.9
153.2%
2,599,911
2,892,017
11.2%
2,793,554
-3.4%
3942988
5926529
6,620,869
4,514,480
-31.8%
985,972
-78.2%
673
22,250
715
-96.8%
105
-85.3%
5735
3714
-0.35%
195789
15,822,468
%change
-100.0%
14660
-100
15,665,050
-1.0%
13,748,109
-12.2%
20685523
50.46
786000
2006
000
Assets
Non-Current Assets
Fixed Assets
Long Term Loans
Long Term Deposits
Finance under
Musharika
Arrangements
Current Assets
Stores and Spares
Stock in Trade
Trade Debts
Current Maturity of
Musharika Arrangement
2007
000
2008
% Change
000
2009
% Change
000
%change
1,716,590
1,019
5,181
4,021
2,093,852
4,240
6,629
22.0%
316.1%
27.9%
100.0%
4,033,762
42,341
7,222
92.6%
898.6%
8.9%
3934473
28509
7222
-2.46
-32.6
0
226,169
3,959,316
738,281
5,811
227,191
2,859,951
665,647
3,710
0.5%
-27.8%
-9.8%
-36.2%
232,142
2,637,629
1,332,832
2.2%
-7.8%
100.2%
-100.0%
128483
4088858
1736631
-44.65
55.02
30.29
426,165
47,523
2.9%
420.3%
737,372
23,148
73.0%
-51.3%
894459
16876
21.30
-27.09
Accrued Mark up
Other Receivables
Taxation
Investments
Cash and Bank Balances
76,211
1,250,217
132,634
605,725
48,520
74.0%
-51.6%
100.0%
8,543,263
15.2%
-73.6%
-89.4%
331.8%
100.0%
-49.3%
50944
67902
7,416,180
35,012
64,360
209,533
54,171
4,328,585
9731166
45.50
-8.68
-100
-100
124.81
Total Assets
15,822,468
15,665,050
-1.0%
13,738,109
-12.3%
20685523
50.57
Honda Pakistan
000
000
420,000
714,000
70.0%
1,428,000
100.0%
1428000
1,579,500
705,708
1,991,000
(264,332)
26.1%
-137.5%
1,727,000
74,678
-13.3%
-128.3%
1801500
-401655
4.31
-637.9
666,667
1,958,334
193.7%
500,000
-74.5%
1500000
200
2006
Share Capital and
Reserves
Issued, Subscribed
and Paid Up Capital
Reserves
Un-Appropriated
Profit
Non-Current
Liabilities
Long Term Finances
Deferred Taxation
5,428
2009
%change
-100.0%
Current Liabilities
Current Position of
Long Term Finances
Short Term Finances
333,333
583,333
Mark up Accrued on
Loans
Trade and Other
Payables
Contingencies and
Commitments
Total Liabilities and
Equity
15,719
39,627
152.1%
32,029
-19.2%
75048
134.31
3,993,047
3,283,155
-17.8%
3,055,037
-6.9%
3387594
10.88
9,174,275
8,305,117
-9.5%
6,816,744
-17.9%
9942088
45.84
1,454,873
75.0%
-100.0%
-100.0%
2151601
2006
2007
% Change
000
1,051,723
4,082,955
288.2%
3,864,527
-5.3%
5190535
34.31
33,202
1,274,230
65,903
191,842
98.5%
-84.9%
64,636
80,746
-1.9%
-57.9%
195830
19226
202.9
-76.18
36,163
Current Assets
Stores and Spares
Stock in Trade
Trade Debts
Short Term
Investments
Trade and Other
Receivables
Cash and Bank
Balances
Total Assets
000
2009
% change
000
509,039
000
2008
% Change
Assets
Non-Current Assets
-100.0%
4,091
100.0%
4,091
0.0%
4042
-1.19
28,105
-22.3%
29,050
3.4%
31503
8.44
251,008
100.0%
338,165
34.7%
571214
68.91
29,736
50,316
69.2%
83,101
65.2%
101942
22.67
4,169,120
2,704,946
-35.1%
1,612,696
-40.4%
2954091
83.17
634,843
-100.0%
1,075,600
706,092
-34.4%
507,852
-28.1%
853218
68.00
360,619
219,859
-39.0%
231,880
5.5%
20487
-91.16
9,174,275
8,305,117
-9.5%
6,816,744
-17.9%
9942088
45.84
2007
% change
2008
%change
2009
% change
3,155,420
3,999,589
26.75%
(125,517)
(1.03)
6538777
-5309.48
(91,373)
(217,143)
(22,207)
(227,390)
-75.70%
4.72%
(3,427)
(201,390)
(0.85)
(0.11)
-8267
-105538
141.2314
-47.5952
(38,804)
941,148
(1,072,738)
(67,655)
780,163
(1,634,104)
74.35%
-17.11%
52.33%
(78,562)
702,156
(1,089,890)
0.16
(0.10)
(0.33)
-50069
612950
-465156
-36.2682
-12.7046
-57.3208
(631)
(32)
2,675,847
(3,221)
(1,448)
2,823,727
410.46%
4425.00%
5.53%
(13,854)
(593)
(811,077)
3.30
(0.59)
(1.29)
13832
6536529
-199.841
-100
-905.907
(1,168,227)
(805,259)
-31.07%
(2,422,406)
2.01
-721823
-70.2022
48,838
33,128
46,989
-3.79%
-100.00%
8,952
(0.81)
42806
378.1725
(25,000)
100.00%
(50,000)
1.00
-100
26,313
100.00%
(1.00)
55922
6,570
100.00%
3,849
(0.41)
-100
(1,086,261)
(750,387)
-30.92%
(2,459,605)
2.28
-623095
-74.6669
(31,948)
(6,413)
-79.93%
(3,878)
(0.40)
-100
Dividend paid
(861,457)
(939,844)
9.10%
(940,118)
0.0003
-510853
-45.6608
(893,405)
(946,257)
5.92%
(943,996)
(0.0024)
-510853
-45.884
696,181
1,127,083
61.90%
(4,214,678)
(4.74)
5402581
-228.185
0.15
4328585
-49.3334
(0.49)
9731166
124.8117
6,719,999
7,416,180
10.36%
8,543,263
7,416,180
8,543,263
15.20%
4,328,585
Honda Pakistan
2006
2007
Year
% Change
2008
% Change
2009
(5,292,805)
1,999,952
-138%
2,078,194
4%
-807955
(30,614)
(281,544)
820%
(241,249)
-14%
-179750
(5,397)
(16,064)
198%
(22,756)
42%
-18653
140
(2,002)
-1530%
-100%
49
(896)
5,621
-727%
(2,123)
-138%
-2627
(184,977)
(369,762)
(64,165)
(137,991)
(458,478)
-25%
24%
-100%
(70,502)
(256,411)
-49%
-44%
-256682
-295642
(5,948,476)
1,109,494
-119%
1,485,153
34%
-1461260
(1,802,496)
(2,450,118)
36%
(159,779)
-93%
-1958056
(30,565)
(100,922)
230%
(28,713)
-72%
-91472
13,522
5,457
-60%
27,937
412%
105252
Investments
Proceed from Sale of Investments
(300,000)
1,140,214
-100%
100%
12,507
55,900
(1,336,962)
100%
-71%
-31%
Dividends Received
Interest Received
Net Cash From Investing Activities
193,964
(1,925,575)
-100%
15,188
(145,367)
-100%
-73%
-89%
42562
-1901714
%change
Honda Pakistan
2006
2007
% Change
2008
% Change
2009
%change
714,000
100%
-100
(2,041,667)
-232%
1000000
-148.98
1,000,000
1,541,667
54%
1,150,000
(1,150,000)
-200%
Dividends Paid
Net Cash From
Financing Activities
(94,190)
2,055,180
(86)
391,581
-100%
-81%
(98)
(1,327,765)
14%
-439%
-20
999980
-79.5918
-175.313
(5,818,241)
164,113
-103%
12,021
-93%
-2362994
-19757.2
5,873,987
55,746
-99%
219,859
294%
231880
5.467595
55746
219,859
294%
231,880
5%
-2131114
-1019.06
-100%
Current Ratio
Quick Ratio
Equity Turnover
2010
2011
2012
000
% change
000
%chang
e
000
%change
000
%
change
Sales
37,864,604
-8.59
38924813
2.8
40014707
2.799
41135119
2.80
Cost of Sales
35540418
-5.4
36535549.79
2.8
37558544.
2.799
38610183.9
2.80
Gross Profit
2324186
-39.60
2389263.2
2.8
2456162.5
2.799
2524935.1
2.80
469985
-3.56
483144.5
2.8
496672.61
2.799
510579.4
2.80
Administrative Expenses
352249
18.48
352249
352249
352249
727080
-7.59
747438.2
2.8
768366.49
2.799
789880.76
2.80
-48.89
160860.4
2.8
165364.5
2.799
169994.70
2.81
Profit/Loss From
Operations
2072553
-41.52
2140447.4
3.27
2210242.9
3.260
2281992.7
3.24
Finance Costs
26540
861.52
36000
35.64
36000
36000
Profit/Loss Before
Taxation
2046013
-42.23
2104447.4
2.85
2174242.9
3.31
2245992.7
3.29
Taxation
660911
-47.16
736556.6
11.44
760985.0
3.31
786097.4
3.29
1385102
-39.53
1367890.8
-1.24
1413257.8
3.31
1459895.2
3.29
2011
% change
2012
% Change
4044638
28509
4157888
28509
2.80
0
4274308.931
28509
2.80
0
7222
7222
7222
132080.5
4203346
1785257
894459
17348.53
69803.25
10003638
21186301
135778.8
4321040
1835244
894459
17834.29
71757.75
10283740
21753473
2.80
2.80
2.80
0
2.80
2.80
2.80
2.67
139580.5828
4442028.772
1886630.66
894459
18333.6466
73766.96321
10571685.14
22336524.7
2.80
2.80
2.80
0
2.80
2.80
2.80
2.68
1000000
786000
1000000
786000
0
0
1000000
786000
0
0
10878863
11664863
12292121
13078121
12.99
12.11
13752016
14538016
11.87
11.16
736556
200000
736556
200000
4053392
4166887
6092472
6263061
2.80
6438426.655
2.80
11082419
22747282
11366503
24444624
2.80
2.56
11658542.06
26196558.06
2.80
2.56
0
0
736556
200000
0
0
4283559.40