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Share's

Total No. of Closing


PSX outstanding Price on
S.No. Company Name Symbol Years shares Year end
1 BCL 2012 10,429,571 37.50
1 BCL 2013 10,429,571 40.00
1 BCL 2014 11,472,529 36.00
1 BCL 2015 11,472,529 83.75
1 BCL 2016 11,472,529 40.75
1 BCL 2017 11,472,529 150.88

You can use this vertical line to add any Comments Relevant to their Above specific cell values:

Important Notes for the Project:


i- Write Complete figures, check the header of your client company's financial statements and then including A
ii- For comparability; pls don't change any thing in this standardized format. If you want to add anything don't a
iii- Use the Audited figures, wherever available.
iii- Fake or Inaccurate figures will disqualify your project and no marks will be given.
iv- Where needed, use the Formulas in the sheet.

Notes given by the student, for the Faculty:


Sir, the 2012 Year has been ADDED AFTER SELF AUDITING of my sheet.
Since the marketing figures were not given I have calculated Marketing figures to be calculated after adding
Board of Directors FAMILY INFLUENCE

Female
Non- Total Directors # of Shares
Total Market Independe Executive Executive Directors on serving on owned by the
Capitalization nt Dir. Dir. (NED) Dir. the board the board Family people
391,108,913 1 6 2 9 0 0
417,182,840 1 6 1 8 0 0
413,011,044 1 6 1 8 0 0
960,824,304 1 7 1 9 0 0
467,505,557 1 7 2 10 0 0
1,730,975,176 1 7 2 10 0 0

I found No family ownership in this c

atements and then including ALL zero values accordingly.


u want to add anything don't add in between of this given format, add it in the end of the last column.

to be calculated after adding sales promotion and advertising.


FAMILY INFLUENCE

INSTITUTIONAL ownership
Is this a FAMILY (# of shares owned by the
Owned company? Institutions like example:
Proportion of write = 1 if total 20% Insurance
FAMILY or more ownership by companies, Pension funds,
Ownership of family, otherwise write NIT and Investment trusts
shares =0 etc..) CEO Name
Mr. Shahid A. Hakim
0 0 7,564,155
0 0 7,603,144 Mr. SIRAJUDDIN KHAN
0 0 8,354,506 Mr. SIRAJUDDIN KHAN
0 0 8,390,506 Mr. SIRAJUDDIN KHAN
0 0 8,231,573 Mr. Nisar Ahmed Mirani
0 0 8,092,913 Mr. Nisar Ahmed Mirani

found No family ownership in this company


CEO

CEO Tenure in Months


- serving as CEO in this
company. (Check and
start counting from yr.
2009) CEO Age (approx.)
67 months
67
7 months 63
19 months 64
31 months 65
2 months 56
14 months 57
CEO

CEO Qualification: (If CEO's


Masters degree Gender IF
/Professional Male write =
qualification = 1, 1, IF Female
CEO Qualification Otherwise = 0) =0
Bachelors degree, Institute of Chemical Eng., Punjab Univ.
0 1
degree, Dawood College of Engineering and Technology/NED Univ 0 1
degree, Dawood College of Engineering and Technology/NED Univ 0 1
Dawood College of Engineering and Technology/NED University 0 1
degree, Mehran University of Engineering & Technology 0 1
degree, Mehran University of Engineering & Technology 0 1
REMUNERATION OF DIRECTORS, CHIEF EXECUTIVE (CEO) AND KEY EXECUTIVES

Is the CEO from


the Owning
family or from
close Relatives
to ownership CEO Salary & Total CEO Executives' No. of
Family benefits CEO Bonuses, etc. Compensation Payroll executives
No 6,449,608 711,966 7,161,574 10,088,316 5
No 5,847,150 0 5,847,150 12,056,943 8
No 3,959,404 116,500 4,075,904 15,282,260 9
No 3,934,023 0 3,934,023 14,532,484 9
No 5,327,991 615,120 5,943,111 20,657,275 11
No 6,054,455 700,058 6,754,513 23,690,070 11
D KEY EXECUTIVES

# of shares held by board of


Total no. of Directors total Shareholding
Total Salaries cost Board (i.e. Ownership by all
Executive Directors' (i.e. Labour cost Meetings held Directors, including CEO,
Payroll included in COGS) in year their spouse, kids etc.)
2,765,890 66,291,855 4 1,328,968
1,770,243 82,953,136 4 1,327,221
- 89,486,933 4 1,459,828
- 95,507,045 4 1,202,219
3,165,828 109,517,956 5 1,099,547
3,513,919 144,926,275 5 369,547
HR & REMUNERATION COMMITTEE

Duality - Is the No. of No. of


CEO and the HR & INDEPENDE No. of Non- Executive
Chairman of Remunerati NT directors executive directors
Board Two on in HR & directors in HR & TOTAL No. of
separate Committee REMUNERA (NED’s) in REM. Directors in HR
# of shares held by CEO persons? Present? TION HR & REM. Committe & REM.
alone YES/NO YES / NO committee committee e Committee
1839 Yes Yes 0 2 1 3
4703 Yes Yes 0 2 1 3
5172 Yes Yes 0 2 1 3
5172 Yes Yes 0 2 1 3
0 Yes Yes 0 3 1 4
0 Yes Yes 0 3 1 4
AUDIT COMMITTEE

No. of Non- No. of HR &


No. of executive No. of No. of Audit Rem.
INDEPENDE directors Executive TOTAL No. of committee's committee's
NT directors (NED’s) in directors in Directors in the Meeting Meeting
in AUDIT AUDIT AUDIT AUDIT held in the held in the
committee committee committee Committee year year Cost of Sales (COGS)
1 4 0 5 5 0 1,533,750,219
1 5 0 5 5 0 1,585,028,676
1 5 0 5 4 0 1,133,183,351
1 3 0 4 4 2 1,506,267,955
1 3 0 4 4 3 1,192,599,912
1 3 0 4 4 1 1,497,470,471
INCOME STATEMENT

Marketing Expenses (or


IF: its Not available use
Selling, Distribution Cost CSR: Any Amount spent on
given) CSR, Social welfare Net Sales or Revenue Net Profit Before tax
459,131 - 1,724,538,938 69,003,338
1,452,780 - 1,745,974,096 33,698,434
819,052 - 1,111,227,012 - 146,342,917
45,197,537 - 1,695,718,102 71,640,383
34,256,017 - 1,333,475,781 39,419,529
47,146,208 - 1,744,098,049 141,426,228

CSR Not specified in report


Non-Current assets
Net Profit After tax (NCA) Total Assets (TA) Total Debt (TD) Total Equity (TE)
46,608,343 254,184,908 1,106,099,769 553,824,983 552,274,786
22,884,339 239,149,066 1,344,396,027 784,346,044 560,049,983
- 105,524,662 268,041,058 1,029,661,538 589,350,323 440,311,215
46,914,536 254,873,575 1,203,672,484 727,067,375 476,605,109
25,869,803 266,746,648 925,007,039 472,345,624 452,661,415
97,775,985 253,655,751 895,116,288 320,968,245 574,148,043
BALAN

Non- Current Liabilities A/c. Payables (Trade


Current Assets (CA) Current Liabilities (CL) (NCL) payables)
851,914,861 495,388,633 58,436,350 198,314,372
1,105,246,961 724,458,497 59,887,547 199,829,208
761,620,480 563,652,906 25,697,417 106,266,830
948,798,909 687,216,639 39,850,736 83,091,092
658,260,391 387,392,441 84,953,183 107,523,406
641,460,537 234,113,288 86,854,957 106,661,113
BALANCE SHEET

PPE (Total Property Plant


& Equipment i.e. Fixed
Net Assets Intangible Assets (FA) asset) Inventory at year End
552,274,786 0 240,645,608 334,937,734
560,049,983 685,308 219,561,258 312,183,715
440,311,215 443,435 193,925,557 391,174,388
476,605,109 201,563 187,057,730 489,320,254
452,661,415 - 184,429,083 280,698,434
574,148,043 - 184,941,604 290,062,182
A/c. Receivables (Trade Allowance for Bad Debts
Cash & Bank balance at receivables balance at (Provision for doubtful Dividends Amount (Rs.)
year End year End debts) for this current year
8,833,893 241,557,203 - 15,557,448
11,336,742 460,908,066 - -
8,699,584 121,387,295 - -
8,890,582 183,250,126 - 22,945,058
12,952,661 141,878,725 - 11,472,529
9,554,186 59,631,893 - 57,362,645
CASH FLOW STATEMENT

Research & Development


(R & D) expenditure for Cash flows from Operating Cash flows from Investing Cash flows from Financing
the year activities activities activities
- (107,379,398) (32,438,767) (15,557,448)
- - 179,105,280 - 6,026,365 - 20,869,481
- 46,335,828 2,745,553 -
- - 135,538,952 - 13,564,938 -
- 364,001,826 - 18,453,133 - 22,770,880
- 175,083,351 - 18,833,958 - 11,402,825
Firm Age (i.e.
Total Accruals Company's age
Formula Tip: from the time Total number of Shareholders
(Net Profit After tax - when it was of the firm (i.e. How many # of Shares owned by the
Cashflows from Operating Incorporated or people hold the shares? Go to Top - Five largest
Activities) formed) the pattern of shareholding) shareholders
153,987,741 30 799 7,649,434
201,989,619 31 783 7,395,873
- 151,860,490 32 786 8,367,567
182,453,488 33 912 8,005,797
- 338,132,023 34 952 8,201,297
- 77,307,366 35 1,148 7,816,755
KEY RATIOS

% of Shares owned by
the Top - Five largest Dividend Debt/equity Debt/asset
shareholders ROA ROE EPS DPS payout ratio ratio
73% 0.0421 0.0844 4.47 2.00 0.33 1.00 0.501
71% 0.0168 0.0407 2.13 - - 1.40 0.583
73% -0.1025 -0.2397 -9.20 - - 1.34 0.572
70% 0.039 0.0984 4.09 2.00 0.49 1.53 0.604
71% 0.028 0.0572 2.25 1.00 0.44 1.04 0.511
68% 0.1092 0.1703 8.52 5.00 0.59 0.56 0.359
EY RATIOS

Tobin’s Q (q ratio)
Formula tip:Book value
of Debt plus the Market
value of Equity /divided
Gross Profit Net Profit by the book value of Inventory A/c. Receivable
Margin Margin Assets Turnover Turnover
0.1106 0.027 0.85 19 48
0.092 0.0127 0.89 24 73
-0.0198 -0.095 0.97 50 96
0.1117 0.0277 1.40 43 33
0.1056 0.0194 1.02 39 44
0.1414 0.0561 2.29 30 21
Market to Book ratio
(to check Growth)
Formula: Number of
Market Capitalization / P/E (Price to Shares owned by associated Subsidiaries of the
Net Assets (TA - TL) Earnings ratio) companies company
0.708 8.39 4,824,527
0.745 20.62 4,824,527
0.938 -3.91 5,306,979
2.016 20.48 5,306,979
1.033 18.11 5,306,979
3.015 17.71 5,306,979

Millat Tractors limited


Observations of any Major changes and few quick Comments on performance

Any major change found in this year


CEO resigned during the year.
Intangible assets acquired over this year
During this year, a significant decrease in long-term and short-term liabilities can be observed. Bank
Company made a strong comeback with additional equity this year. Long and short liabilities increased. Profit was m
A new CEO was appointed during this year. Intangible assets came down to a value of zero this year
the new CEO does not have any ownership in this company unlike the last CEO
Any thing else you want to add or any column yo

No dividends paid during this year


Market to book ratio, despite the negative performance, has improved
s increased. Profit was made and liquidity ratios have improved
CEO appointment would have no relation with the performance as we was appoited just 2 months before the accoun
Overall, the number of shareholders has increased this year, but a significant decrease in BOD ownership in the com
ater decrease in current liabilities is observed which led to a decreased debt to asset ratio
e company
BUSY year end
(write variable = 1
if year-end is
Between 31st
December and 31
March inclusive;
variable = 0
S.No. Company Name Symbol Name of Industry otherwise)
1 BCL Engineering 0
1 BCL Engineering 0
1 BCL Engineering 0
1 BCL Engineering 0
1 BCL Engineering 0
1 BCL Engineering 0
DELAY = Number of
days between
company’s financial
year-end and date the
Date of Signing Audit audit report is signed Audit Engagement
report by auditor Partner Name Name of the Audit Firm
4-Sep-12 66 Shariq Ali Zaidi EY
13-Aug-13 75 Shariq Ali Zaidi EY
25-Sep-14 87 Farrukh Rehman PWC
4-Sep-15 66 Farrukh Rehman PWC
23-Sep-16 85 Farrukh Rehman PWC
28-Sep-17 90 Farrukh Rehman PWC
Audit fee (i.e
No. of Geographical No. of direct statutory
Size of Audit Firm (i.e. Locations, offices in INTERNATIONAL Auditors'
Big 4 or Non-Big 4) PAKISTAN Offices (If any) remuneration)
Big 4 3 - Karachi, Lahore and Islamabad 151 550,000
Big 4 3 - Karachi, Lahore and Islamabad 151 550,000
Big 4 3 - Karachi, Lahore and Islamabad 137 550,000
Big 4 3 - Karachi, Lahore and Islamabad 137 550,000
Big 4 3 - Karachi, Lahore and Islamabad 137 577,500
Big 4 3 - Karachi, Lahore and Islamabad 137 606,500
Non-Audit fee i.e.
auditor's remuneration
Other than audit fee
(eg. Half yearly REVIEW on CCG OPINION - given in
review, CCG review, Number of (Code of their Auditors report
certification, out of Subsidiaries of Corporate (Unqualified,
pocket exp.) the company Governance) Qualified, Adverse)
132,500 YES Unqualified
171,250 YES Unqualified
337,000 YES Unqualified
399,032 YES Unqualified
334,418 YES Unqualified
356,585 YES Unqualified
Comment on the level of
Modification made
0
0
0
0
0
0
Profitability and Share Price
Net Profit Share Price
2012 46,608,343 37.50
2013 22,884,339 40.00
2014 (105,524,662) 36.00
2015 46,914,536 83.75
2016 25,869,803 40.75
2017 97,775,985 150.88

Net Profit Share Price


Net Profit 1
Share Price 0.6313392862 1
ANALYZING RELATED MATTERS

SUMMARY OUTPUT

Regression Statistics
Multiple R 0.6313392862
R Square 0.3985892943
Adjusted R Square 0.2482366178
Standard Error 39.802917177
Observations 6

ANOVA
df SS MS F Significance F
Regression 1 4199.9514701337 4199.951 2.651029 0.178813611
Residual 4 6337.0888631996 1584.272
Total 5 10537.040333333

Coefficients Standard Error t Stat P-value Lower 95% Upper 95%


Intercept 55.28285058 17.2715829091 3.200798 0.032876 7.3292487532 103.236452
Net Profit 4.250621E-07 2.6106287759E-07 1.628198 0.178814 -2.997647E-07 1.1499E-06
Lower 95.0% Upper 95.0%
7.32924875 103.23645241
-2.9976E-07 1.1498888E-06
INCOME STATEMENT ITEMS: 2013 % change compared to last year
Net Sales 1,745,974,096 101.24%
Cost of Sales 1,585,028,676 3.34%
Gross Profit 160,945,420 -15.64%
Admin, Selling & Distribution expenses 84,404,000 9.14%
Other operating expenses 3,231,000 -35.88%
Profit/(loss) before taxation 33,698,434 -51.16%
Profit/(loss) after taxation 22,884,339 -50.90%
BALANCE SHEET ITEMS:
Property, Plant & Equipment 219,561,258 -8.76%
Other Non-current Assets 19,587,808 44.67%
Trade debts 460,908,066 90.81%
Stock in trade 312,183,715 -6.79%
Loans and advances 80,399,829 603.16%
Cash and bank balances 11,336,742 28.33%

Share Capital 104,295,710 0.00%


Reserves 455,754,273 1.74%
Trade payables 199,829,208 0.76%
Short term borrowings 496,237,098 751.82%
Long-term desposits (Non current Liabilities) 4,895,383 -5.45%
HORIZONTAL ANALYSIS
2014 % change compared to last year 2015 % change compared to last y
1,111,227,012 -36.35% 1,695,718,102 52.60%
1,133,183,351 -28.51% 1,506,267,955 32.92%
(21,956,339) -113.64% 189,450,147 -962.85%
75,402,000 -10.67% 79,569,000 5.53%
- -100.00% 5,086,000
(146,342,917) -534.27% 71,640,383 -148.95%
(105,524,662) -561.12% 46,914,536 -144.46%

193,925,557 -11.68% 187,057,730 -3.54%


74,115,501 278.38% 67,815,845 -8.50%
121,387,295 -73.66% 183,250,126 50.96%
391,174,388 25.30% 489,320,254 25.09%
3,884,632 -95.17% 9,614,849 147.51%
8,699,584 -23.26% 8,890,582 2.20%

104,295,710 0.00% 114,725,290 10.00%


325,585,925 -28.56% 361,879,819 11.15%
106,266,830 -46.82% 83,091,092 -21.81%
444,518,359 -10.42% 592,917,247 33.38%
3,851,690 -21.32% 5,126,432 33.10%
2016 % change compared to last 2017 % change compared to last year
1,333,475,781 -21.36% 1,744,098,049 30.79%
1,192,599,912 -20.82% 1,497,470,471 25.56%
140,875,869 -25.64% 246,627,578 75.07%
75,619,000 -4.96% 93,721,000 23.94%
3,060,000 -39.83% 10,724,000 250.46%
39,419,529 -44.98% 141,426,228 258.77%
25,869,803 -44.86% 97,775,985 277.95%

184,429,083 -1.41% 184,941,604 0.28%


82,317,565 21.38% 68,714,147 -16.53%
141,878,725 -22.58% 59,631,893 -57.97%
280,698,434 -42.64% 290,062,182 3.34%
4,612,090 -52.03% 4,996,583 8.34%
12,952,661 45.69% 9,554,186 -26.24%

114,725,290 0.00% 114,725,290 0.00%


337,936,125 -6.62% 459,422,753 35.95%
107,523,406 29.40% 106,661,113 -0.80%
274,201,513 -53.75% 125,501,000 -54.23%
4,999,301 -2.48% 5,643,444 12.88%
COMPARISON of KEY RATIO
NAME OF COMPANY YEAR END ROCE ROE EPS
Aisha Steel Mills Limited 30-Jun-17 15.30% 15.22% 1.74
Amreli Steels Limited 30-Jun-17 11.00% 10.00% 3.62
Mughal Steel Limited 30-Jun-17 18.28% 21.09% 7.10
International Industries Limited 30-Jun-17 10.00% 20.40% 15.40
International Steels Limited 30-Jun-17 39.23% 35.58% 7.00
Pakistan Engineering Co. Ltd. 30-Jun-17 11.73
Industry Average 18.76% 20.46% 7.765
COMPANY: Bolan Castings Limited 30-Jun-17 17.03% 8.52
N of KEY RATIOS with INDUSTRY and Competitors
Dividend Debt/equity Debt/asset Net Profit P/E (Price to
DPS payout ratio ratio Margin Earnings ratio)
- 0.07%
7.90%
- 4.71%
11%
- 9.02%
4.93%
#DIV/0! #DIV/0! 6.27% #DIV/0!
5 5.61% 17.71