AFS Olympia Textile

8/3/2019 AFS Olympia Textile

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TITLE OF THE PROJECT

Olympia Spinning & WeavingMills Ltd

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ANALYSIS OF FINANCIAL STATEMENT

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PRESENTED BY:

SAMIYA RAFIQ MALIK- 7694

MIZRA ZUBAIR-7118

ADEEL AHMED KHAN-4506

MUHAMMAD WAQAS-7081

SALMAN SHAHID-7258

DANISH AKHTER-5214

RIZWAN AHMED-5294

NASIR BALOCH-4726

ADEEL UMEDALI-5363


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DATACOLLECTION

TECHNIQUES

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The data will be collected

form the financial statements

of Olympia spinning &

weaving mills ltd.


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About Sector

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The businessmen were talking to LCCI President ZafarIqbal Chaudhry during his visit to Kasur on Wednesday.

Former LCCI President Mian Shafqat Ali and former Vice

President Shahzad Ali Malik were also present in the

meeting.

They said that at a time when all the developed economies

of the world were concentrating on value-addition to earn

much-needed foreign exchange, the government in Pakistan

was doing the other way round by allowing export of yarn.

They said that the government would have to give this

issue a serious thought otherwise the weaving sector would

not be able to meet the export orders at hand.


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They said that recent rapid export of yarn to China had jacked up

the commodity prices by 30 to 40 percent and due to this increase

the weaving industry was facing a crisis-like situation and could beresulted in total closure of otherwise export earning sector.

They said that the exports were almost stagnant for the last three

years and if a ban on export was not imposed immediately the

situation could worsen further.

They said that shortage of electricity and gas was already hitting the

entire businesses hard and the increase in power prices would be

adding fuel to fire therefore, the government should review itsdecision in the larger interests of the country.

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They said that businessmen knew well that 13.6 percent increasein January 1, 2010 was very much part of the agreement but thegovernment should convince the IMF that time for promised

increase was not ripe and could be put off for some time.

Zafar Iqbal Chaudhry said that it was a time for giving someincentive to the businessmen who were doing business in suchpressing conditions but unfortunately the policies being evolvedwere not that business friendly and the government would have totake the stakeholders into confidence.


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Important Issue

20 August 2009

While representing Bank AlFalah Limited, A & Q got Banking Court

to issue bailable warrants for CEO and directors ofOlympia

Spinning & Weaving Mills Limited for misappropriation of cotton

bales that were pledged with Bank Al-Falah.

30 July 2009

While representing Askari Bank Limited, A & Q got Banking Court

to issue bailable warrants for CEO and directors ofOlympiaSpinning & Weaving Mills Limited for misappropriation of cotton

bales that were pledged with Askari Bank.


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Important Issue

Unavailability of working capital

Continuous rising prices of cotton

Increasing dollar rate

Continuous increase in markup rates

Double digit general inflation which increases cost

of other inputs

Fixed capital expenditure

Net cash used in operating activities


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Financial Result

The high inflation, increasing energy and labor prices along with

increase of other inputs prices is the major constraint for

profitability, not even for our company but for the entire textilesector.

Olympia Spinnings future is not well in term of financial aspect

because of instability of financial performance .


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Problems

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Suffering the loss from a long time.

Not proper utilization of the assets .

Mismanagement system

Cases from the banks

Low sales


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As Per The

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http://www.csr-human`rights.org
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RATIO ANALYSIS

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Documents

AFS Olympia Textile