Balance

Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Income
Income
Income
Income
Income
Income
Income
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash

Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
Sheet
statement
statement
statement
statement
statement
statement
statement

flow
flow
flow
flow
flow
flow
flow
flow
flow

Statement
Statement
Statement
Statement
Statement
Statement
Statement
Statement
Statement

Equity
Equity
Equity
Equity
Lt Liabilities
Lt Liabilities
St Liabilities
St Liabilities
St Liabilities
St Liabilities
St Liabilities
Lt Assets
Lt Assets
Lt Assets
Lt Assets
Lt Assets
St Assets
St Assets
St Assets
St Assets
St Assets
St Assets
St Assets
St Assets
Revenue
Revenue
expenses
expenses
expenses
expenses
expenses
CFO
CFO
CFO
CFO
CFO
CFI
CFI
CFI
CFI

Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash
Cash

flow
flow
flow
flow
flow
flow
flow
flow
flow
flow
flow
flow

Statement
Statement
Statement
Statement
Statement
Statement
Statement
Statement
Statement
Statement
Statement
Statement

CFI
CFI
CFI
CFF
CFF
CFF
CFF
CFF
CFF
LT assets
LT assets
LT assets

Notes
Notes
Notes
Notes
Notes
Notes
Notes
investment breakdown

sales
cost of sales
cost of sales
cost of sales
cost of sales
cost of sales
cost of sales
investment

Accounting policy
Accounting policy
Accounting policy
Accounting policy
Accounting policy
Accounting policy
Accounting policy
Accounting policy
Accounting policy
Accounting policy
Accounting policy
Accounting policy
CHECKS
Total Assets
Tptal Liabilities
Total Equity

Lt Assets
Long term investments
Long term investments
Long term investments
Long term investments
St Assets
Lt Assets
Income statement
Income statement
St Assets
Income statement
Income statement

Difference
Total Revenues
Total Expenses
Net Profit or Loss

Quantitative data

notes

Notes

frequent items

ACCOUNTING WARNING SIGNS

Company Name
Annual fy
Quarter
Rupees
share capital
capital & other reserves
Revenue reserves
surplus on revaluation of investment held for sale
long term borrowings
deferred liabilities
Trade & other payables
mark-up accrued
st borrowings
current portion of lt borrowings
taxation
PPE
Intangible Assets
Long term investments
long term loans & advances
long term deposits & prepayments
store,spare & loose tools
stock in trade
trade debts
loans & advances
deposits & prepayments
other recievables
st investment
cash & bank balances
sales
other income
cost of sales
distribution cost
finance cost
other expense
provision for taxation
Cash flow generated from operations
Finance cost paid
Income tax paid
Others
Total CFO
Fixed capital Expenditure
Proceeds from sale of fixed capital expenditures
Interest and dividend received
LT investment

Proceeds from LT investment

Others
Total CFI
Long term financing
Short term financing
Dividend paid
Others
Equity Issued
Total CFF
Depreciation
Amortization
Other Non cash items
sale of fertilizer
cost of goods manufactured
opening stock of manufactured urea
closing stock of manufactured urea
opening stock of manufactured fertilizer
purchase of fertilizer
closing stock of purchase fertilizer
investment in associates
ffcl
investment in joint venture
pak maroc phosphore
investment in subsidiaries
ffbl
ffcel
available for sale
certificate of investment
pak investment bond
term finance certificate
PPE
investment in subsidiaries
investment in associate & jointly controlled entities
investment available for sale
loans & recieveables
stock in trade
Intangible Assets
Revenue
Mark-up bearing borrowings
STORES,SPARES & TOOLS
C.O.G.S
taxation

No. of shares issue during the year

Earning/loss per share
sales,other income ,cost of sales,distribution cost,finance cost,other expenses,provision for taxation

ACCOUNTING WARNING SIGNS

Aggressive revenue recognition
Different growth rates of cash flow & earnings
Abnormal inventory growth as compare to sales growth
Boosting revenues with nonoperating income & nonrecurring gains
Delaying expense recognition
Abnormal use of operating leases by lessess
Hiding expenses by classifying them as exttraordinary or nonrecurring
LIFO Liquidations
Extending the useful life of long lived assets
Aggressive pension assumptions
Year-end surprise
Equity method investment & off-balance sheet SPE's
Other off-balance sheet financing arrangments including debt guarantees

fauji fertilizer
2013
000's

fauji fertilizer
2012
000'

fauji fertilizer
2011
000's

12,722,382
160,000
13,213,667

8,481,588
160,000
14,428,636

3,870,000
4,103,315
15,836,879
24,921
4,990,000
1,433,750
4,531,939
17,818,755
1,678,639
9,511,865
700,786
222,313
3,098,938
442,139
3,611,476
677,977
35,670
588,667
18,750,996
3,748,632

2,703,750
3,832,614
11,730,961
79,826
8,735,650
1,615,655
3,762,236
17,050,951
1,569,234
8,659,073
605,883
9,370
2,447,452
636,923
86,669
431,582
53,852
891,673
21,794,480
1,293,774

74,322,612
4,267,852
38,324,361
5,560,687
999,457
2,685,236
10,181,000

55,221,168
6,629,501
20,871,759
4,372,151
785,825
2,654,881
10,674,000

31,758,890
(1,054,362)
(9,235,297)
(2,822,978)
18,646,253
(2,269,802)
28,489
1,276,269
(850,000)

33,121,687
(843,967)
(10,398,028)
(2,322,307)
19,557,385
(2,314,033)
14,123
1,480,703
(800,000)

6,534,424
4,719,380
984,345

1,611,349
(7,858)
(1,259,405)

(17,749,717)

(14,774,032)

(16,765,372)
1,370,050
9,467
2,407,992

(16,033,437)
1,189,678

74,322,612
34,052,004
7,538
80,055
144,090
4,474,813
274,029

55,221,168
20,314,627
105,609
7,538

1,500,000

1,500,000

705,925

562,027

4,752,330
2,400,000

4,752,330
1,450,000

2,860,755

603,151
144,090

11,528
60,491
81,591
S.L
Equity method
Equity method
F.V
N.R.V
W.A.C
Amortized cost
f.v
Amortized cost
W.A.C
W.A.C
current income tax law

108,961
162,043
123,712
S.L
Equity method
Equity method
F.V
N.R.V
W.A.C
Amortized cost
f.v
Amortized cost
W.A.C
W.A.C
current income tax law

60,886,853
34,790,804
26,096,049

55,530,916
32,460,692
23,070,224

78,590,464
57,750,741
20,839,723

61,850,669
39,358,616
22,492,053

1,272,238

1,272,238

16.3803651518

17.6791237174

NO
NO
YES
YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

NO
YES
YES
YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

-0.0465876189
-0.073462836
0.345908004
-0.3058203268

0.336922612
1.0393835295
0.2305728534
2.0083270357

nses,provision for taxation

cash flow growth

earning growth
sales growth
Inventory growth

fauji fertilizer
2010
000's

fauji fertilizer
###
000'

fauji fertilizer
1q 2013
000's

6,785,271
160,000
8,502,276

###
###
6,137,171

12,722,382
160,000
11,434,672

3,819,405
3,215,821
9,614,026
137,968
5,640,420
1,759,405
3,426,264
15,933,588
1,569,234
7,870,027
455,328
9,037
2,440,201
211,720
357,956
336,269
50,188
617,664
12,020,581
1,189,063

4,578,809
3,035,757
8,002,897
147,329
6,088,348
1,799,405
1,816,595
13,993,518
###
7,727,528
337,541
6,305
2,996,633
144,087
256,886
130,219
37,653
734,062
6,768,568
3,849,348

3,830,000
4,014,022
14,078,001
135,404
2,024,000
1,271,250
4,215,678
17,840,680
1,669,440
11,660,122
676,427
247,469
3,411,873
431,613
2,213,027
575,387
485,074
374,937
10,937,127
3,362,233

44,874,359
3,153,110
25,310,406
3,944,473
1,086,741
1,376,000
5,281,000

36,163,174
2,800,987
20,515,044
3,174,505
944,947
1,272,448
4,234,111

16,360,862
1,500,479
8,591,602
1,294,547
178,296
624,342
2,263,000

20,241,360
(1,096,102)
(3,488,331)
(1,028,268)
14,628,659
(3,313,841)
260,433
501,482
(650,000)

14,487,016
(992,188)
(3,603,877)
(971,876)
8,919,075
(2,344,076)
15,869
491,326

4,414,503
(67,813)
(2,523,747)
(139,120)
1,683,823
(392,758)
6,845
362,086
(2,000,000)

4,303,278
1,101,352
(799,405)

464,075
(1,372,806)
256,964

1,596,445
(427,382)
(202,500)

(10,622,306)

(6,447,973)

(5,662,474)

(11,421,711)
1,194,402

(6,191,009)
1,069,020

(5,864,974)
369,194
9,877
553,717

1,432,239

968,577

44,874,359
21,632,745
73,353
105,609

36,163,174
19,162,628
66,842
73,353
33,683
1,325,244

3,709,917

16,360,862
8,500,231
80,054
152,398
274,029
110,314

1,500,000

###

705,295

###

4,752,330
650,000

###

52,100
131,376
96,846
501,103
113,456
137,424
S.L
S.L
S.L
Equity method
Equity method
Equity method
Equity method
Equity method
Equity method
F.V
F.V
F.V
N.R.V
N.R.V
N.R.V
W.A.C
W.A.C
W.A.C
Amortized cost
Amortized cost
Amortized cost
f.v
f.v
f.v
Amortized cost
Amortized cost
Amortized cost
W.A.C
W.A.C
W.A.C
W.A.C
W.A.C
W.A.C
current income tax law current income tax law current income tax law
43,060,856
27,613,309
15,447,547

38,551,582
25,469,140
13,082,442

53,885,409
29,568,355
24,317,054

48,027,469
36,998,620
11,028,849

38,964,161
30,141,055
8,823,106

17,861,341
12,951,787
4,909,554

678,527

678,527

1,272,238

16.2541048477

13.0033233755

3.8589902204

NO
YES
NO
YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

NO

NO
YES
YES
YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

0.6401542761
0.2499962032
0.2408855207
0.4693900213

YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

-0.7767540175
-0.3033134923
-0.3263919679
-0.9096964414

fauji fertilizer
2q 2013
000's

fauji fertilizer
3q 2013
000's

fauji fertilizer
1q 2012
000's

12,722,382
160,000
11,559,007
7,882
3,510,000
3,980,452
19,486,747
17,327
8,953,036
1,335,000
3,097,599
18,376,281
1,659,450
18,183,195
688,927
3,501
3,084,062
461,787
1,400,309
609,440
173,783
1,249,257
15,986,491
2,952,949

12,722,382
160,000
9,611,318

18,044,549
493,177
9,501,680
1,627,094
169,919
589,683
2,063,000

11,432,825
2,140,885
5,674,866
1,339,934
278,090
521,714
1,884,000

13,338,785
(287,996)
(3,182,490)

(7,302,217)
(194,792)
(1,378,034)
(537,701)
(9,412,744)
(855,887)
8,077
385,626

9,868,299
(940,851)
27,822
259,514

2,459,583
3,860,443
5,860,751
163,124
8,974,137
1,305,119
4,297,128
17,581,959
1,569,234
8,965,852
630,754
226,546
2,458,260
6,080,358
229,734
547,143
325,694
824,216
8,256,834
1,717,401

(7,371,402)
(8,024,917)
(256,250)

3,804,394
3,342,210
(554,703)

(5,044,744)

(4,425,190)

(5,300,994)
403,968

(743,931)

352,911

18,044,549
9,261,345
152,398
108,506
110,314
286,491
200,362

S.L
Equity method
Equity method
F.V
N.R.V
W.A.C
Amortized cost
f.v
Amortized cost
W.A.C
W.A.C
current income tax law
64,829,432
40,380,161
24,449,271

(4,979,893)
324,339

11,432,825
8,312,698
7,538
3,826,361
144,090
2,995,261
1,958,360

f.v
Amortized cost
W.A.C
W.A.C
current income tax law

S.L
Equity method
Equity method
F.V
N.R.V
W.A.C
Amortized cost
f.v
Amortized cost
W.A.C
W.A.C
current income tax law
49,413,985
26,920,285
22,493,700

18,537,726
13,951,376
4,586,350

13,573,710
9,698,604
3,875,106

1,272,238

1,272,238

3.6049465587

3.0458970727

NO
YES
YES
YES
NO
NO
NO
NO
NO
NO
NO
YES
NO
4.8606510304
-0.0658316417
0.1029094311
4.8606510304

NO

NO

YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

fauji fertilizer
2q 2012

fauji fertilizer
3q 2012

fauji fertilizer
4q 2012

000's

000's

000's

12,722,382
160,000
12,249,794

###
###
9,348,416

2,640,000
3,887,475
13,346,443
95,561
1,050,000
1,254,286
4,856,012
17,627,096
1,569,234
9,303,046
647,493
5,427
2,800,531
1,351,996
1,956,170
518,337
385,590
716,584
11,940,345
3,440,104

2,550,000
3,860,384
16,456,085
145,396
6,620,903
1,077,500
4,719,967
17,833,810
###
9,351,319
656,407
5,192
2,884,499
3,072,886
3,012,017
552,797
299,728
946,723
9,144,521
8,331,900

24,697,952
318,542
13,139,040
1,291,906
362,920
775,943
2,987,000

13,903,434
382,533
7,059,425
1,220,250
175,237
515,129
1,858,000

24,288,401
1,425,892
12,451,030
1,708,597
183,210
872,450
3,452,000

19,705,452
(430,483)
(2,401,117)

6,910,851
(125,402)
(2,022,045)
(1,120,715)
3,642,689
(548,066)
2,526
-

12,444,804
-303,685
-3,434,101
-1,164,562
7,542,456
-479,089
4,859
633,464
-850,000

16,873,852
(386,760)
13,027
257,179

(785,042)
(901,596)
129,584

2,400,017
1,854,477
(266,786)

1,115,055
424,289
1,676,250

(3,837,334)

(6,303,291)

(3,707,750)
341,709

(6,570,077)
341,002
1,371,773

-3,183,902
0
0
(1,507,652)
363,000
9,467
897,823

13,903,434
8,775,896
562,479
2,455,972
657,221
2,983
483,182

24,288,401
8,490,681
-4,388,840
-6,764,757
-2,615,581
1,375,279
-2,824,734

(214,515)
24,697,952
8,472,729
3,826,361
562,479
1,958,360
101,290
657,221

S.L
S.L
Equity method
Equity method
Equity method
Equity method
F.V
F.V
N.R.V
N.R.V
W.A.C
W.A.C
Amortized cost
Amortized cost
f.v
f.v
f.v
Amortized cost
Amortized cost
Amortized cost
W.A.C
W.A.C
W.A.C
W.A.C
W.A.C
W.A.C
current income tax law current income tax law current income tax law
52,261,953
27,129,777
25,132,176

57,661,033
35,430,235
22,230,798

25,016,494
18,556,809
6,459,685

14,285,967
10,828,041
3,457,926

25,714,293
18,667,287
7,047,006

1,272,238

1,272,238

1,272,238

5.0774186905

2.7179867289

5.5390626597

NO
YES
YES
YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

NO
NO
NO
YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

NO
NO
YES
YES
NO
NO
NO
NO
NO
NO
NO
YES
NO

-2.7926602487
0.6669698842
1.1602667757
-2.7926602487

-0.7841222621
-0.4646912349
-0.4370612592
-0.7841222621

1.0705736888
1.0379285155
0.7469353974
4.1188155234

ACTIVITY RATIOS:
Inventory
Avg inventory
Inventory Turnover
COGS/Avg Inventory
Days of Inventory On hand365/inventory turnover
Net Premium (annual sales)
Recievables
Average Recievables
Receivables Turnover
Annual sales/Average receivables
Days of Sales Oustanding 365/Receivables Turnover
Total Assets
Average total Assets
Revenue
Total Asset Turnover
Revenue/Average Total Assets
LIQUIDITY RATIOS:
Current Assets
Current Liabilities
Current Ratio
Current assets/Current liabilities
Quick Ratio
(cash & bank balance + receivables+st investment)/current liabilities
Cash Ratio
cash & bank balance/ current liabilities
SOLVENCY RATIOS:
Debt to Equity
Debt to capital
Debt to assets
Interest coverage
Total Equity
Average Total Equity
Financial Leverage

total debt/total shareholders' equity

total debt/total debt+total shareholders' equity
total debt/total assets
EBIT/interest payments

Average total assets/Average total equity

Profitability Ratios
NET INCOME
Net profit margin
Gross profit
Gross profit margin
EBIT
Operating Profit margin
Return on Assets (ROA)
Net income/Average total assets
Operating Return on AssetEBIT/ Average total assets
Return on Equity
Net income/Average total equity
CASH FLOW Rtios
Interest expense
Int(1-tax rate)

Free cash flow to firm

Free cash flow to equity
cash flow to revenue
cash return on assets
cash return on equity
debt coverage
Interest coverage
Reinvestment
Investing and Financing
Dupont anlysis

CFO+[INT(1-TAX RATE)]-Fcinv
CFO-Fcinv+net borrowings
CFO/net revenue
CFO/avg total assets
CFO/avg total equity
CFO/total debt
(CFO+interest paid+tax paid)/interest paid
CFO/cash paid for long term assets
CFO/cash outflows from investing and financing
(net profit margin)(assets turnover)(financial leverage)

Company Name
Annual fy
Quarter
Rupees

fauji fertilizer
2013

fauji fertilizer
2012

000's

000's

442,139
###
71.03
5.14
###
5E+006
3E+006
23.3075
15.6602
###
6E+007
###
1.27683

nt)/current liabilities

3E+007
###
1.15427
1.02222
0.13978

0.39446
0.28287
0.16906
30.3692
###
###
2.36784

net income/revenue
sales-c.g.s
gross profit/revenue
EBIT/revenue

20,839,723
0.2803954603
35,998,251
0.4843512631
32,020,180
0.4308268929
0.3580161891
0.5500909402
0.8477243333
685335.3

17061786.3
17360796
0.2508826385
0.3203334536
0.7584977206
1.8114149848
27.4440012064
8.2149249142
-1.5479217486
0.8477243333

fauji fertilizer
2011

fauji fertilizer
2010

fauji fertilizer
2009

000's

000's

000's

000's

636,923
###
49.19
7.42
###
###
###
39.083
9.3391
###
###
###
1.1202

211,720
###
142.27
2.57
###
1E+006
1E+006
35.6019
10.2523
###
4E+007
###
1.09969

144,087

431,613
###
4.90
18.56
###
3648425
4229845
3.867958
23.52663
###
6E+007
###
0.293346

###
###
1.066
0.9471
0.0499

2E+007
###
0.83699
0.70812
0.05778

1E+007
###
0.8355
0.65959
0.21559

2E+007
###
1.003081
0.82616
0.154768

0.5659
0.3614
0.2351
40.229
###
###
2.5596

0.72628
0.42072
0.26054
15.8713
###
###
2.86058

0.95292
0.48795
0.32337
14.1124
###

0.293015
0.226613
0.13223
108.3988
###
2E+007
2.396382

#DIV/0!
#DIV/0!
###
1158820

###
###

fauji fertilizer
1q 2013

22,492,053
0.4073085343
34,349,409
0.6220333659
33,951,878
0.614834478
0.4562663302
0.6887365408
1.1678792628

11,028,849
0.2457717335
19,563,953
0.4359717539
17,396,590
0.3876732813
0.2702737296
0.426322027
0.7731407818

8,823,106
0.2439804095
15,648,130
0.4327089763
14,002,164
0.3871940002

4,909,554
0.3000791768
7,769,260
0.4748686224
7,350,850
0.4492947865
0.0880270838
0.1317989148
0.210946533

548578.55

712466.3

644922.2

44078.45

17791930.55
15983947
0.3541646385
0.3967346281
1.0154993133
1.4980699047
36.4935832799
8.4516448123
-1.2191899095
1.1678792628

12027284.3
10515413
0.3259914866
0.3584909202
1.0254934904
1.3038915327
17.5285621229
4.4144118562
-1.4174564083
0.7731407818

7219921.2
6831963
0.2466341865
#DIV/0!
#DIV/0!
0.7154398302
13.6215515608
3.8049427578
-1.1791767779
0

1335143.45
1088565
0.1029177436
0.0301905282
0.072348043
0.2363177432
63.0466577205
4.2871768366
-0.2675981779
0.210946533

fauji fertilizer
2q 2013
000's

461,787
###
21.27
4.28
###
###
###
10.513
8.6559
###
###
###
0.304
###
###
0.788
0.6802
0.0898

0.5644
0.3608
0.2128
23.678
###
###
2.4344

4,586,350
0.2541681701
8,542,869
0.4734321152
6,819,269
0.3779129642
0.0772666663
0.1148848609
0.188094961
187197.4

fauji fertilizer
3q 2013

fauji fertilizer
1q 2012

000's

000's

6,080,358

###
###

#DIV/0!
#DIV/0!
###
2E+006

###
###

###

###
###
###
###

fauji fertilizer
2q 2012
000's

1,351,996
###
3.54
25.74
###
3576681
4193973
5.888915
15.45276
###
5E+007
###
0.485817

2E+007
###
0.9922
0.57771
0.08337

2E+007
###
1.121703
0.920146
0.166977

0.56633
0.36156
0.2578
30.993
###

0.196731
0.164391
0.094606
22.78744
###
2E+007
2.134889

3,875,106
0.3389456237
5,757,959
0.5036339662
6,037,196
0.5280581134

6,459,685
0.2615473947
11,558,912
0.4680109509
9,809,605
0.3971829324
0.1270641831
0.1929582395
0.2712678713

126614.8

279813.95

9114645.4
8671198
0.5468853225
0.1662521538
0.4047177637
0.7151959163
46.3158689704
10.4886948093
-0.7405346621
0.188094961

0
0
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
0

-10142016.2
-10823334
-0.8233086748
#DIV/0!
#DIV/0!
-0.7389012452
-40.2476385067
-10.997648054
5.7475982837
0

16766905.95
16616676
0.6832085511
0.3319143611
0.7086001736
3.4127985315
45.7752152814
43.6287413383
-3.6607909235
0.2712678713

fauji fertilizer
3q 2012

fauji fertilizer
4q 2012

000's

000's

3,072,886
2,212,441
3.19
28.52
###
4811265
2405632.5
5.7795337
15.745215
###
54961493
###
0.2529668
28245071
###
0.9733017
0.7680152
0.2871104

0.4610002
0.3155374
0.1777353
43.78848
###
23681487
2.3208633

35.18

3,457,926
0.2487102107
6,844,009
0.4922531369
5,491,163
0.3949501253
0.0629154306
0.0999092765
0.1460181111

7,047,006
0.2901387374
11,837,371
0.4873672417
10,682,216
0.4398072973

81511.3

197395.25

3176134.3
2827837
0.2619992298
0.0662771115
0.1538201127
0.3554396719
46.1725969283
6.6464422168
-0.772476249
0.1460181111

7260762.25
8739617
0.3105373631
#DIV/0!
#DIV/0!
#DIV/0!
37.1445478045
15.7433295275
-6.9620764231
0