Fauji fertilizer company vs Engro Fertilizer Company

8/10/2019 Fauji fertilizer company vs Engro Fertilizer Company

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Appendix - A

BALANCE SHEET

FOR THE YEAR ENDED

2013 2012

EQUITY AND LIABILITIES

Share Capital and Reserves

Share Capital 12,722,382 12,722,382

Capital reserves 160,000 160,000

Revenue resrves 12,258,373 12,877,129

Surplus on remeasurement of investment

avalible for sale to fair value 10,508 7,695

25,151,263 25,767,206

Non Current LiabilitiesLong term borrowings 4,280,000 3,870,000

Deferred liabilities 4,078,369 3,915,259

8,358,369 7,785,259

Current liabilities

Trade and other payables 21,854,125 16,125,589

Interest and mark-up accrued 22,098 24,921

Short term borrowings 7,000,000 4,990,000

Current portion of long term borrowing 1,460,000 1,433,750

Taxation 3,983,215 4,542,926

Total Current liabilities 34,319,438 27,117,186

Total 67,829,070 60,669,651

ASSETS

NON-CURRENT ASSETS

Fixed Asset-Property, plant and equipment 18,444,188 17,818,755

Intangible assets 1,651,592 1,678,639

Long term investments 20,662,532 9,511,865

Long term loan and advances 740,408 700,786

Long term deposits and prepayments 2,654 5,111

Total Non-Current Assets 41,501,374 29,715,156

CURRENT ASSETS

Stores,spares and loose tools 3,244,645 3,098,938

Rupees '000

Fauji Fertilizer Corp

As At December


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Stock-in-trade 301,957 442,139

Trade debts 700,541 3,611,476

Loans and advances 921,460 677,977

Deposits and prepayments 46,984 35,670

Other receivables 790,163 588,667

Short term investments 18,960,295 18,750,996

Cash and bank balances 1,361,651 3,748,632

Total Current Assets 26,327,696 30,954,495

Total Assets 67,829,070 60,669,651

Source: Fauji Fertilizer Corporation (2011-2013) Annual Reports


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2011

8,481,588

160,000

14,029,206

10,258

22,681,052

2,703,750

3,623,060

6,326,810

12,329,687

79,826

8,735,650

1,615,655

3,762,236

26,523,054

55,530,916

17,050,951

1,569,234

8,659,073

605,883

9,370

27,894,511

2,447,452

ration

31


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636,923

86,669

431,582

53,852

891,673

21,794,480

1,293,774

27,636,405

55,530,916


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Appendix - C

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED

2013 2012 2011

Net sales 74,480,611 74,322,612 55,221,168

Cost of sales (39,948,572) (38,300,128) (20,871,759)

Gross profit 34,532,039 36,022,484 34,349,409

Distribution expenses (6,167,280) (5,553,529) (4,372,151)

Administration expenses

Operating profit 28,364,759 30,468,955 29,977,258

Finance cost (756,215) (999,457) (785,825)

Other Expenses (2,557,937) (2,685,236) (2,654,881)

25,050,607 26,784,262 26,536,552Other Income 4,367,941 4,267,852 6,629,501

Net Income before Taxation 29,418,548 31,052,114 33,166,053

Provision for Tazation (9,284,000) (10,191,987) (10,674,000)

Profit after taxation 20,134,548 20,860,127 22,492,053

Earnings per share basic and diluted (Rupees) 15.83 16.40 26.52

Profit after taxation 20,134,564 20,860,127 22,492,080

Source: Fauji Fertilizer Corporation (2011-2013) and Engro Fertilizer Corporation (2013) , Annu

Fauji Fertilizer Corporation

December

Rupees '000


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Engro Fertilizer

December

2013Rupees '000

50,128,936

(28,007,905)

22,121,031

(3,511,155)

(600,990)

18,008,886

(8,669,569)

(2,060,015)

7,279,3021,104,650

8,383,952

(2,886,847)

5,497,105

5

5,497,105

l Reports


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Appendix - D

Ratios

ENGRO

2013 2013 2012 2011

Sales Growth (%) 63.70 0.21 34.59 25.10

Profitability Analysis ENGRO

2013 2013 2012 2011

GP Margin (%) 44.13 46.36 48.47 62.20

NP Margin (%) 10.97 33.63 36.04 48.06

ROCE (%) 8.32 74.76 79.83 91.48

EPS (Rs.) 4.66 15.83 16.40 26.52

ROE (%) 26.90 80.05 80.96 99.17

ROA (%) 38.46 29.68 34.38 40.05

Efficiency Analysis ENGRO

2013 2013 2012 2011

Debtors Turnover (Times) 275.69 34.55 40.2 248.18

Debtor Collection Period (Days 1.31 10.42 8.96 1.45

Inventory Turnover (Times) 18.25 188.00 151.68 162.43

Creditor Turnover (Times) 105.52 144.48 60.99 33.45

Creditor Payable Period (Days) 3.41 2.49 5.90 10.76

Total Assets Turnover (Times) 0.63 1.10 1.23 0.99

Liquidity Analysis ENGRO

2013 2013 2012 2011

Current Ratio (Times) 0.36 0.77 1.14 1.04Quick Ratio (Times) 0.34 0.76 1.13 1.02

Investor's Analysis ENGRO

2013 2013 2012 2011

Price/Earning Ratio (Times) 4.66 7.07 7.14 8.46

Dividend Payout Ratio (%) 46.77 71.72 64.04 55.62

Dividend Yield (%) 7.45 11.35 10.50 14.75

Sources: (Engro Fertilizer C (Fauji Fertilizer Company, 2013:2011)

FFC

FFC

FFC

FFC

FFC


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Formula

((Current Year Sales-Last Year Sales)/Last Year Sales) *100

36.82

(Gross Profit/Net Sales)*100

(Net Profit/Net Sales)*100

(EBIT/(Total Assets-Current Liabilities))*100 11.65 -91.48

Profit to Shareholders/Average outstanding shares

Net income/Shareholder Equity

Net income/Total Assets

Net Credit Sales/ Average Trade Debtor

(Average Trade Debtors/Sales Revenue)*365 (page 24 2013)

Cost of Goods Sold/Average Inventory

Net Credit Sales/ Average Trade Creditor

(Average Trade Creditor/Sales Revenue)*365 (page 24 2013)

Sales/Total Asset

30365756 84646514

1381665

Current Assets/Current Liabilities

Current Assets-Inventory/Current Laibilities

Market Value Per Share/Earnings Per Share

(Dividends Per Share/Earnings Per Share)*100

(Dividends Per Share/Market Value Per Share)*100


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Appendix - B

BALANCE SHEET

FOR THE YEAR ENDED ENGRO Fertilizer C

As At December 31

2013

EQUITY AND LIABILITIES Rupees '000

Share capital 12,228,000

Share premium 11,114

Advances against issue of shares 2,118,750

Hedging Reserve (147,644)

Remeaasurement of post employment benefits (20,886)

Unappropriated profits 10,879,868

12,841,202

Total Shareholder's Equity 25,069,202

NON-CURRENT LIABILITIES

Borrowings 52,896,382

Subordinated loan from Holding Company 3,000,000

Derivatives financial instruments 1,531,252

Deferred liabilities 4,654,523

Retirement and other service benefits obligations 104,053

Total Non Current Liabilities 62,186,210

CURRENT LIABILITIES

Trade and other payables 18,012,445

Accrued interest / mark up 1,479,667

Current portion of:

borrowing 2,924,299

Retirement and other service benefits obligations 43,893

Derivative financial instrument 213,041

22,460,304

Total Liabilities 84,646,514

Total Equity and Liabilities 109,928,787

ASSETS

NON CURRENT ASSETS

Property, plant and equipment 79,315,218

Intangible assets 138,464

Long term loans and advances 109,349

Total Non Current Assets 79,563,031


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CURRENT ASSETS

Stores and spares and loose tools 4,368,863

Stock in trade 1,381,665

Trade debts 758,253

Derivative financial instrument 130,207

Loans, advances, deposits and prepayments 625,832Other receivables 28,177

Taxation - payments less provision 556,314

Short term investment 18,058,054

Cash and bank balances 4,458,391

Total Current assets 30,365,756

Total assets 109,928,787

Source: Engro Fertilzer Corporation (2013) Annual Reports


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ompany


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Fauji fertilizer company vs Engro Fertilizer Company