Crutch lean

TABUK CEMENT COMPANY

FINANCIAL ANYLYSIS REPORT

So whosoever does good equal to the weight of a speck of dust shall see it. And whosoever does evil
equal to the weight of speck of dust shall see it".......... what an alarming message for all of us
The company is highly liquid as current ratio, liquid ratio and working capital ratio are well above the standard norms. Thus the
ability of the company to pay its short term obligations makes day to day operations comfortable and provides greater margin of
safety to the creditors.
Brilliantly asleep
Long Term Solvency
There are no long term debts which implies that there are no regular repayments burden and interest charges, therefore, all the net
profit goes to the hands of the company. The absence of any long term borrowing also reveals that there is no insolvency issue and
all the assets are financed through equity.

Performance
Although there is a declining trend in the gross and net margins over a period of five years, even then company has a strong net
profit margin around 40%. Also return on investment is around 13% which needs to be compared with cement industry average.

Valuation
The company is very consistent in dividend distribution and above 90% of earnings are paid to shareholders.
Dividend yield is around 6% which apparently looks on lower side. This is due to high market price as compared to book value. Its
shares are being traded are at high P/E multiples around 16 times.
From investment point of view, the risk is minimum but low return (yield) needs to be taken into account
Dear brother Ayub
AOA
As per your advice I gave up share trading business and shifted to Al Meezan Investments. Alhamdolillah I am very happy that I am
earning Halal and there is no tension whatsoever. Let me to tell you that I started with Meezan Cash Fund ( MCF) on 25
th
September
2012 and since then I am waiting to enter into their Meezan Islamic Fund ( MIF), however, higher Index level kept me sideline.
MCF is giving me a return of around 8-9% p.a and I am getting around 30-32 thousand monthly on a healthy investment of Rs. 4.6
million. As you know that monthly expenses are creeping up day by day, the return of 8% is insufficient to counter them.
Can you please guide me what are other products of Meezan Investments which can offer me 12-14% return? Keeping in view higher
risk in equity based funds i.e; MIF and Meezan 30 index, I will not opt for them. I wrote numerously to Meezan marketing people
regarding such advice but they dont care. I shall be obliged if you could help me diversifying our portfolio. I shall also be thankful if
you could please forward your personal email and contact number. May Allah bless you.
Thanks & regards,
Niazmeen thumbed
Saudi Arabia
00966592196814

Dear Sir,
I have sent you following emails at Yahoo and Afkar, however, one of them has been returned from Afkar server. The missing one
may please be retrieved from Yahoo a/c. Kindly confirm the receipt of all the three emailsand oblige.
Brief Presentation on results 2 MB File
1- Financial Analysis Report 5 MB
2- Transport Business Proposal 890 KB
Dear Sir,
Assalam o- Alaoikum
Most respectfully it is to inform you that I am seriously sick for the last two weeks. Ten days ago I suddenly fell on the ground and
became unconscious. I was rushed to hospitals for emergency treatment. According to the reports, our systolic (upper) blood
pressure was shot up to 190 and probably caused a stroke. Doctors have advised me to refrain from pressure work and use relaxing
pills to control the disease. They also advised EEG and C-T Scan for further investigation.
In view of above, I was not able to complete your assignment of Hayat projections. Kindly grant me 8-10 days more so that I may
recover and complete the task. I shall be very grateful to you.









It is certified that Mr. Niazmeen Shahab-ud-Din Iqma # 2285645293, Passport # CB9912711 is working with us as an Accountant
since 25-02-1431. His family visa expired on 16-05-1434 ( 28-03-2013) as all his kids are students and were busy in taking final term
examinations held in March 2013. Since his family Iqama is valid till 26-05-1435, you are requested to extend their visa till 1
st

Ramadan 1434 so that they can enjoy their summer vacations in KSA.
Niazmeen qma # 2285645293 # CB9912711 25 - 02 - 1431 .
16 - 05 - 1434 ) 28 - 03 - 2013 ( 2013 .
26 - 05 - 1435 1 1434 .




,,,hhh





THE DIGNITY OF LABOUR
No work is superior or inferior in itself. Work is work. It is absolutely wrong to consider any work as high or low. The work itself is a dignity.
Every work has some dignity attached to it. It is improper for anybody to think that a certain kind of work is undignified or below his below
status. No work is mean or low. A dignified work becomes undignified if it is done in a wrong way and by unfair means. Similary even a so-
called undignified work becomes dignified if it is done in a decent manner and by honest means.
. All the religions of the world have enjoined man to do his work honestly. All the philosophers of the world have preached that no work is
such as to undermine the dignity of man. The dignity of labour means that every kind of work is dignified. It also implies that dignity can be
achieved only by hard work. Great men have said that work is worship.
As a matter of fact work is work and it cannot be classified as high or low. The work of a sweeper is as high, important and dignified as that
of a doctor, engineer or teacher. This aversion to manual work has done great harm to our country. This has created an artificial division in
the society. Those doing manual work are looked down upon. They are considered as low people. Those who are engaged in manual
labour should not suffer from any inferiority complex. They should have a devotion to work and faith in the sacredness of the work that they
do. Rich and educated people owe a great responsibility in this regard. They must give up this false notion and should inculcate in
themselves the idea of the dignity of labour. By doing so they would be doing a great service to themselves, their society and country


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Our contribution towards the progress of our country

Pakistan, not only just a country but a land, a region, a destination and moreover a place of colours, culture, language and vivid varieties of
people, plants and animals, which consider themselves as proud and prestigious Pakistanis. Before the freedom of Pakistan, Pakistanis
contributed to Pakistan and now only Pakistan is supplying and contributing them. The question is that how can a person contribute to his
country, and moreover to a country like Pakistan whose diversified facilities sustain lives of many people?

As a true, devoted, a patriotic Pakistani, we would like to contribute anything that we could to our country, Pakistan gives us so many things
that makes us just creditors, while a true Pakistani is the one who becomes a debtor to his country. We being children don't have too much
power but still we can do anything that we are able to do with our mind and body.

By this way we would firstly contribute to Pakistan by doing any social service that can contribute towards development and progress of
Pakistan like making future of some children by giving them the green light of education, literacy and removing some of them from food
scarcity and poverty. Contribution is not just social service but being a responsible Pakistani also leads to contribution.

For becoming a responsible Pakistani we would never violate any law nor we will break any rules and regulations listed in our constitution.
We will always respect our national heritage and will never exploit it. By doing these small things we can become a responsible Pakistani
and can contribute to our country