HORIZONTAL ANALYSIS

BALANCE SHEET

2016 16 Vs 15 2015 15 Vs 14 2014 14 Vs 13 2013 13 Vs. 12 2012 12 Vs. 11 2011 11 Vs. 10

Rs M % Rs M % Rs M % Rs M % Rs M % Rs M %

EQUITY AND LIABILITIES

EQUITY
Share capital 12,722 - 12,722 - 12,722 - 12,722 - 12,722 50.00 8,482 25.00
Capital reserve 160 - 160 - 160 - 160 - 160 - 160 -
Revenue reserves 15,329 6.24 14,429 12.83 12,788 4.23 12,269 (4.78) 12,885 (8.22) 14,039 65.13
28,211 3.30 27,311 6.39 25,670 2.06 25,151 (2.39) 25,767 13.61 22,681 46.83

NON - CURRENT LIABILITIES

Long term borrowings 16,653 4.78 15,893 535.72 2,500 (41.59) 4,280 10.59 3,870 43.12 2,704 (29.20)
Deferred taxation 4,812 4.61 4,600 0.57 4,574 12.16 4,078 4.16 3,915 8.06 3,623 (4.83)
21,465 4.74 20,493 189.69 7,074 (15.36) 8,358 7.36 7,785 23.04 6,327 (17.03)

CURRENT LIABILITIES
Trade and other payables 10,852 33.74 8,114 (78.62) 37,904 73.44 21,854 35.52 16,126 30.79 12,330 36.65
Interest and mark-up accrued 321 19.78 268 793.33 30 36.36 22 (12.00) 25 (68.75) 80 (42.03)
Short term borrowings 22,177 23.06 18,021 55.31 11,603 65.76 7,000 40.28 4,990 (42.88) 8,735 54.85
Current portion of long term borrowings 6,434 42.66 4,510 153.37 1,780 21.92 1,460 1.81 1,434 (11.26) 1,616 (8.13)
Taxation 1,249 (11.61) 1,413 (43.50) 2,501 (37.21) 3,983 (12.33) 4,543 20.76 3,762 9.81
41,033 26.93 32,326 (39.98) 53,818 56.82 34,319 26.55 27,118 2.24 26,523 32.70
TOTAL EQUITY AND LIABILITIES 90,709 13.20 80,130 (7.47) 86,562 27.62 67,828 11.80 60,670 9.25 55,531 28.96

ASSETS
NON - CURRENT ASSETS
Property, plant & equipment 21,233 (0.70) 21,382 6.41 20,094 8.95 18,444 3.51 17,819 4.50 17,051 7.01
Intangible assets 1,585 0.51 1,577 (2.11) 1,611 (2.48) 1,652 (1.61) 1,679 7.01 1,569 -
Log term investments 29,656 1.81 29,129 3.54 28,134 36.16 20,662 117.22 9,512 9.85 8,659 10.03
Long term Loans & advances 934 14.74 814 (1.09) 823 11.22 740 5.56 701 15.68 606 33.19
Long term deposits & prepayments 14 7.69 13 (18.75) 16 433.33 3 (40.00) 5 (50.00) 9 -
53,422 0.96 52,915 4.41 50,678 22.11 41,501 39.66 29,716 6.53 27,894 7.96

CURRENT ASSETS
Stores, spares and loose tools 3,428 0.94 3,396 2.44 3,315 2.16 3,245 4.71 3,099 26.64 2,447 0.29
Stock in trade 4,237 (16.92) 5,100 419.35 982 225.17 302 (31.67) 442 (30.61) 637 200.47
Trade debts 4,306 142.73 1,774 115.82 822 17.26 701 (80.59) 3,611 4,050.57 87 (75.70)
Loans and advances 903 (11.90) 1,025 (3.21) 1,059 14.98 921 35.84 678 56.94 432 28.57
Deposits and prepayments 50 28.21 39 50.00 26 (29.73) 37 2.78 36 (33.33) 54 8.00
Other receivables 7,692 174.03 2,807 152.43 1,073 34.13 800 35.82 589 (33.97) 892 44.34
Short term investments 14,144 36.86 10,335 (62.33) 27,433 44.70 18,959 1.11 18,750 (13.97) 21,794 81.31
Cash and bank balances 2,526 (7.78) 2,739 133.30 1,174 (13.80) 1,362 (63.67) 3,749 189.72 1,294 8.83
37,287 37.01 27,215 (24.24) 35,884 36.30 26,327 (14.95) 30,954 12.00 27,637 60.47
TOTAL ASSETS 90,709 13.20 80,130 (7.47) 86,562 27.62 67,828 11.80 60,670 9.25 55,531 28.96

BALANCE SHEET ANALYSIS EQUITY & LIABILITIES (%)

2016

2015

2014

2013

2012

2011

0 10 20 30 40 50 60 70 80 90 100

Equity Non-current Liabilities Current Liabilities

40 Fauji Fertilizer Company Limited

VERTICAL ANALYSIS
BALANCE SHEET

2016 2015 2014 2013 2012 2011

Rs M % Rs M % Rs M % Rs M % Rs M % Rs M %

EQUITY AND LIABILITIES

EQUITY
Share capital 12,722 14.03 12,722 15.88 12,722 14.71 12,722 18.76 12,722 20.98 8,482 15.27
Capital reserve 160 0.18 160 0.20 160 0.18 160 0.24 160 0.26 160 0.29
Revenue reserves 15,329 16.90 14,429 18.01 12,788 14.77 12,269 18.09 12,885 21.24 14,039 25.28
28,211 31.11 27,311 34.09 25,670 29.66 25,151 37.09 25,767 42.48 22,681 40.84

NON - CURRENT LIABILITIES

Long term borrowings 16,653 18.36 15,893 19.83 2,500 2.89 4,280 6.31 3,870 6.38 2,704 4.88
Deferred liabilities 4,812 5.30 4,600 5.74 4,574 5.28 4,078 6.01 3,915 6.45 3,623 6.52
21,465 23.66 20,493 25.57 7,074 8.17 8,358 12.32 7,785 12.83 6,327 11.40

CURRENT LIABILITIES
Trade and other payables 10,852 11.96 8,114 10.13 37,904 43.79 21,854 32.22 16,126 26.58 12,330 22.20
Interest and mark-up accrued 321 0.35 268 0.33 30 0.03 22 0.03 25 0.04 80 0.15
Short term borrowings 22,177 24.45 18,021 22.49 11,603 13.40 7,000 10.32 4,990 8.22 8,736 15.73
Current portion of long term borrowings 6,434 7.09 4,510 5.63 1,780 2.06 1,460 2.15 1,434 2.36 1,616 2.91
Taxation 1,249 1.38 1,413 1.76 2,501 2.89 3,983 5.87 4,543 7.49 3,762 6.77
41,033 45.23 32,326 40.34 53,818 62.17 34,319 50.59 27,118 44.69 26,524 47.76
TOTAL EQUITY AND LIABILITIES 90,709 100.00 80,130 100.00 86,562 100.00 67,828 100.00 60,670 100.00 55,532 100.00

ASSETS
NON - CURRENT ASSETS
Property, plant & equipment 21,233 23.41 21,382 26.68 20,094 23.21 18,444 27.19 17,819 29.37 17,051 30.70
Intangible assets 1,585 1.75 1,577 1.97 1,611 1.86 1,652 2.44 1,679 2.77 1,569 2.83
Log term investments 29,656 32.69 29,129 36.35 28,134 32.50 20,662 30.46 9,512 15.68 8,659 15.59
Long term loans & advances 934 1.03 814 1.02 823 0.95 740 1.09 701 1.16 606 1.09
Long term deposits & prepayments 14 0.02 13 0.02 16 0.02 3 0.00 5 0.01 10 0.02
53,422 58.90 52,915 66.04 50,678 58.54 41,501 61.18 29,716 48.99 27,895 50.23

CURRENT ASSETS
Stores, spares and loose tools 3,428 3.78 3,396 4.24 3,315 3.83 3,245 4.78 3,099 5.11 2,447 4.41
Stock in trade 4,237 4.67 5,100 6.36 982 1.13 302 0.45 442 0.73 637 1.15
Trade debts 4,306 4.75 1,774 2.21 822 0.95 701 1.03 3,611 5.94 87 0.15
Loans and advances 903 1.00 1,025 1.28 1,059 1.22 921 1.36 678 1.12 432 0.78
Deposits and prepayments 50 0.05 39 0.05 26 0.03 37 0.05 36 0.06 54 0.10
Other receivables 7,692 8.48 2,807 3.50 1,073 1.24 800 1.18 589 0.97 892 1.61
Short term investments 14,144 15.59 10,335 12.90 27,433 31.69 18,959 27.95 18,750 30.90 21,794 39.25
Cash and bank balances 2,526 2.78 2,739 3.42 1,174 1.37 1,362 2.02 3,749 6.18 1,294 2.32
37,287 41.10 27,215 33.96 35,884 41.46 26,327 38.82 30,954 51.01 27,637 49.77
TOTAL ASSETS 90,709 100.00 80,130 100.00 86,562 100.00 67,828 100.00 60,670 100.00 55,532 100.00

BALANCE SHEET ANALYSIS ASSETS (%)

2016

2015

2014

2013

2012

2011

0 10 20 30 40 50 60 70 80 90 100

Property, Plant & Equipment Long term Assets Current Assets

Annual Report 2016 41

HORIZONTAL ANALYSIS
PROFIT AND LOSS ACCOUNT

2016 16 Vs 15 2015 15 Vs 14 2014 14 Vs 13 2013 13 Vs. 12 2012 12 Vs. 11 2011 11 Vs. 10

Rs M % Rs M % Rs M % Rs M % Rs M % Rs M %

Sales 72,877 (14.09) 84,831 4.42 81,240 9.07 74,481 0.21 74,323 34.59 55,221 23.06
Cost of sales 54,827 (2.01) 55,949 11.59 50,137 25.50 39,949 4.31 38,300 83.50 20,872 (17.53)
Gross profit 18,050 (37.50) 28,882 (7.14) 31,103 (9.93) 34,532 (4.14) 36,023 4.87 34,349 75.57

Distribution cost 7,154 4.99 6,814 5.96 6,431 4.28 6,167 11.04 5,554 27.04 4,372 10.85
10,896 (50.63) 22,068 (10.55) 24,672 (13.02) 28,365 (6.91) 30,469 1.64 29,977 91.91

Finance cost 2,406 63.12 1,475 73.73 849 12.30 756 (24.32) 999 27.10 786 (27.69)

Other expenses 1,761 (22.90) 2,284 (0.83) 2,303 (9.97) 2,558 (4.77) 2,686 1.17 2,655 92.95
6,729 (63.25) 18,309 (14.92) 21,520 (14.10) 25,051 (6.47) 26,784 0.93 26,536 101.69

Other income 10,665 72.18 6,194 31.20 4,721 8.08 4,368 2.34 4,268 (35.63) 6,630 110.28
Net profit before taxation 17,394 (29.01) 24,503 (6.62) 26,241 (10.80) 29,419 (5.26) 31,052 (6.37) 33,166 103.35

Provision for taxation 5,612 (27.47) 7,737 (4.13) 8,070 (13.08) 9,284 (8.91) 10,192 (4.52) 10,674 102.12
Net profit after taxation 11,782 (29.73) 16,766 (7.73) 18,171 (9.75) 20,135 (3.48) 20,860 (7.26) 22,492 103.94

EPS - restated (Rupees) 9.26 (29.73) 13.18 (7.73) 14.28 (9.75) 15.83 (3.48) 16.40 (7.26) 17.68 103.94

VERTICAL ANALYSIS
PROFIT AND LOSS ACCOUNT

2016 2015 2014 2013 2012 2011

Rs M % Rs M % Rs M % Rs M % Rs M % Rs M %

Sales 72,877 100.00 84,831 100.00 81,240 100.00 74,481 100.00 74,323 100.00 55,221 100.00
Cost of sales 54,827 75.23 55,949 65.95 50,137 61.71 39,949 53.64 38,300 51.53 20,872 37.80
Gross profit 18,050 24.77 28,882 34.05 31,103 38.29 34,532 46.36 36,023 48.47 34,349 62.20

Distribution cost 7,154 9.82 6,814 8.03 6,431 7.92 6,167 8.28 5,554 7.47 4,372 7.92
10,896 14.95 22,068 26.01 24,672 30.37 28,365 38.08 30,469 41.00 29,977 54.29

Finance cost 2,406 3.30 1,475 1.74 849 1.05 756 1.02 999 1.34 786 1.42

Other expenses 1,761 2.42 2,284 2.69 2,303 2.83 2,558 3.43 2,686 3.61 2,655 4.81
6,729 9.23 18,309 21.58 21,520 26.49 25,051 33.63 26,784 36.04 26,536 48.05

Other income 10,665 14.63 6,194 7.30 4,721 5.81 4,368 5.86 4,268 5.74 6,630 12.01
Net profit before taxation 17,394 23.87 24,503 28.88 26,241 32.30 29,419 39.50 31,052 41.78 33,166 60.06

Provision for taxation 5,612 7.70 7,737 9.12 8,070 9.93 9,284 12.46 10,192 13.71 10,674 19.33
Net profit after taxation 11,782 16.17 16,766 19.76 18,171 22.37 20,135 27.03 20,860 28.07 22,492 40.73

EPS - restated (Rupees) 9.26 13.18 14.29 15.83 16.40 17.68

42 Fauji Fertilizer Company Limited