ATTOCK PETROLIUM LTD.

Financial Statement Anaylsis

Vertical Common Size Anylasis (A) PROFIT AND LOSS ACCOUNT 2011 Net Sales Less: Cost of sales Gross profit Add: Other Operating Income Less: Other Operating Expenses Operating profit Add: Finance Income Add: Share of profit of associated company Less: Other Charges Less: Financial Cost Net profit before tax Less: Taxation Net profit after tax RATIOS Gross Profit Ratio N-1 Operating Profit Ratio N-2 Net Profit Ratio N-3 Return on Capital N-4 Return on Assets N-5 Receivable Turnover N-6 Payable Turnover N-7 Inventory Turnover N-8 4.31% 5.56% 3.89% 36.87% 123.90% 155.00 0.00 11.26 3.00% 3.30% 2.70% 33.27% 163.15% 139.00 0.00 9.66 109,394,725 104,680,507 4,714,218 1,978,931 611,315 6,081,834 962,838 93,211 437,706 682,666 6,017,511 1,761,000 4,256,511 2012 152,843,437 148,255,584 4,587,853 1,351,963 889,356 5,050,460 2,196,786 26,506 415,965 1,211,047 5,646,740 1,526,425 4,120,315

(B)

BALANCE SHEET Net Fixed Assets 2,232,955 2,468,346

CURRENT ASSETS

Stores, Spares and loose tools Trade Debts Stock in Trade in Short Term Trade Deposit payments Income Tax Receivables Accrued Financial income Current Maturity of long term investment Current Maturity of long term receievables Advances, Deposits and other recievables Short term investments Taxations Cash and Bank balances

9,729 9,297,292 5,246,705 1,459,703 1,015,930 5,218,037 24,480,351

15,620 15,351,310 4,165,895 843,072 873,168 6,813,730 28,062,795 26,271,573

Total Averge Current Assets

CURRENT LIABILITIES Trade & Other Payable Current Maturity of Liability Current maturity of deffered income taxes Taxation 12,073,287 17,666,747 68,342 17,735,089 10,327,706 2,468,346 30,531,141 30,531,141 12,796,052

12,073,287 Working Capital Net Fixed Assets Total Assets Total Liabilities+Capital Assets Net of Current Liabilities Long Term Libility Provosion for decommissioning obligation Long Term Deposits Deffered Liability defered income defered income tax 12,407,064 2,232,955 26,713,306 23,939,811 14,640,019

209,316 111,000

245,729 167,000

320,316 Share Capital & Reserves: Autherized Capital 1,500,000

412,729

1,500,000

Issued, Subscribed and Paid up Capital Share Reserve Special Reserves

691,200 27,407 10,827,601

691,200 54,864 11,637,259 12,383,323 12,796,052

11,546,208 Total Equity & Long Term Liabilities 11,866,524

Average Equity 2011 RATIOS Activity Ratios

11,964,766 2012

Receivable Turnover (days)N-9 Inventory Turnover (days) N-10 Payable Turnover (days) N-11 Current Ratio N-12 Liquid Ratio N-13 Interest Coverage N-14 Debt/Equity Ratio N-15 Debt Ratio N-16 Cash Conversion Cycle (days) N-17 Net Working Capital Ratio N-18 Total Assets Turnover N-19 Fixed Assets Turnover N-20 Cash Ratio N-21 Debt/capital N-22 Debt/Assets N-23 Financial leverage ratio N-24

17.27 378.00 2.03 0.43 8.91 1.05 0.45 380.00 5.56 4.47 48.99 0.03 0.02 1.27

9.81 469.00 0.17 1.58 0.23 4.17 1.43 0.58 443.00 4.18 5.45 61.92 0.03 0.03 1.03

Pre-Tax Margin N-25

Return on Equity N-26 Quick Ratio N-27

0.06

0.04

Notes
Notes N-1 Gross Proft Ratio Company's gross profit ratio is good although it is decrease in 2012 and 2013 4.50% 4.00% 3.50% but it is not to serious for the management of the company/ the ratios of 3.00% 2.50% 2.00% 1.50% 1.00% gross proit are; 2011 "60.90" 2012 "60" 2012 "58.09" 0.50% 0.00% Operating Profit Ratio N-2 the company operating profit in 2011 was 56.31% in 2012 it was decreased

by 55.13% and in 2013 that was 54.84 although the operating profit is

decreasing with some rate but it is not so much concern for the management.

Net Profit Ratio N-3 the company operating profit in 2011 was 40.18% in 2012 it was increased by

42.53% and in 2013 that was decreased 40.94% although the net profit is

42.53% and in 2013 that was decreased 40.94% although the net profit is

fluctuating with some rate but it is not so much concern for the management. Return on Capital N-4 Return on capital is net income before interest and taxes to total capital. In

2011 it was 33.30%, in 2012 it was 32.38% and in 2013 it was decreased by

28.09%

Return on Assets N-5 Return on Asset on 2011 was 87.05% and in 2012 it was decreased 77.99%

in 2013 it was increased from 77.99% to 93.92 %

Receivable Turnover:N-6 Receievable turnover should be not less than 90 days but in this case it was 155 days, 139 days and 102 days respectively in years 2011, 2012 and 2013

Receievable turnover should be not less than 90 days but in this case it was 155 days, 139 days and 102 days respectively in years 2011, 2012 and 2013

Payable Turnover (days):N-7 Pak petroleum Limited payable duration 40 days and 60 days and 70 days in the years 2011, 2011 and 2012 respectively

0.05

0 1 2 3 4 5

Inventory turnover N-8 Inventory Turnover should be the norm of the business.

Company's

4.5 4 3.5 3 2.5 2 1.5 1 0.5 0 1 2 3 4 5

inventory turnover position is strong because it is not more then 30 days.

Current Ration N-1: the Higher the current ratio,the most likely the company is able to pay its

short term bills.A current ratio of les than 1 means that a company has a
5 4

Current Ratio

negative working capital. As in this company in 2011 there curret ratio was

3 2

3.15. in 2012 it was 4.38 and in 2013 it was 2.29. that shows this company 1
0

Ser ies 1

has paid its short term bills on quite consistent basis.

negative working capital. As in this company in 2011 there curret ratio was

3.15. in 2012 it was 4.38 and in 2013 it was 2.29. that shows this company 1
0

has paid its short term bills on quite consistent basis. Cash Ratio N-2: Company was unable to pay its short term liabilities. Because its cash ratio 0.257 was not in the good position in 2011. It is increas 0.1 in both the years respectively.

135

0.05 Seri es1 1

Receivable Turnover (days):N-3 Receievable turnover should be not less than 90 days but in this case it was 155 days, 139 days and 102 days respectively in years 2011, 2012 and 2013

Inventory Turnover (days): N-4 Inventory Turnover should be the norm of the business. Company's inventory turnover position is strong because it is not more then 30 days.

Company' s payable Cash Conversion Cycle:

Cash Conversion Cycle of Nishat Power is not to much best.

Interest Coverage Ratio: Inventory Turnover Interest Coverage Ratio:

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D.

2013 164,710,177 159,533,376 5,176,801 1,164,542 1,467,988 4,873,355 2,750,456 46,241 410,519 1,666,129 5,593,404 1,686,870 3,906,534

3.14% 2.96% 2.37% 27.82% 93.92% 102.00 0.00 17.14

2,740,853

27,565 9,309,671 5,156,298 949,032 1,943,783 9,970,317 27,356,666 27,709,731

15,413,808 177,383 15,591,191 11,765,475 2,740,853 30,097,519 30,097,519 14,506,328

0 265,871 0 197,000

462,871

1,500,000

691,200 85,584 13,266,673 14,043,457 14,506,328

13,213,390 2013

11.27 339.00 0.40 1.75 0.33 2.92 1.11 0.52 316.00 4.29 6.02 60.09 0.03 0.03 1.03

0.03

Series1

0.03 0.025 0.02 0.015 0.01 0.005 0 1 2 3 4 5

0 -0.02 -0.04 -0.06 1 2 3 4 5

-0.06 -0.08 -0.1 -0.12 -0.14

0 12345 -0.05 -0.1 -0.15 -0.2

1 0.8 0.6 0.4 0.2 0 1 2 3 4 5

200 0 1 Seri es1

NOTES

Gross Profit Ratio N-1

6.00% 4.00%
Gross Profit Ratio N-1

Gross Profit Ratio N-1

2.00% 0.00% 1 2 3

Company's gross profit ratio is good although it is decrease in 2012 and 2013 but it is not to serious for the management of th

Operating profit ratio N-2

Operating Profit Ratio N-2 6.00% 4.00% 2.00% 0.00% 1 2 3
Operating Profit Ratio N2

Net Profit Ratio N-3

Net Profit Ratio N-3 100% 50% 0% 1 2 3

Net Profit Ratio N3

Return on capital N-4

Return on Capital N-4 40.00% 20.00% 0.00% 1 2 3
Return on Capital N-4

Return on Capital N-4

Return on assets N-5

Return on Assets N-5

200.00% 150.00% 100.00% 50.00% 0.00% 1 2 3

Return on Assets N-5

Receivable turnover N-6

Receivable Turnover N-6 200.00
Receivable Turnover N-6

100.00

0.00 1 2 3

Payable turnover N-7

Inventory turnover N-8

Inventory Turnover N-8 20.00 15.00 10.00 5.00 0.00 1 2 3
Inventory Turnover N-8

Receivable turnover (days)N-9

20.00 15.00 10.00 5.00 1 2 3 Series1

Inventory turnover (days) N-10

Payable turnover (days) N-11

Current ratio N-12

2.50 2.00 1.50 1.00 0.50 1 2 3 Series1

Liquid ratio N-13

0.60 0.40 0.20 1 2 3 Series1 Series1

Interest coverage N-14

Interest Coverage N-14

10.00 5.00 1 2 3 Interest Coverage N14

Debt/equity ratio N-15

Debt/Equity Ratio N-15

1.50 1.00 0.50 1 2 3

Debt/Equit y Ratio N15

Debt ratio N-16

Debt Ratio N-16

0.60 0.40 0.20 1 2 3

Debt Ratio N-16

Cash conversion cycle (days) N-17

Cash Conversion Cycle (days) N-17

100% 80% 60% 40% 20% 0% 1 2 3

Cash Conversion Cycle (days) N-17

Net working capital ratio N-18

Net Working Capital Ratio N-18

6.00 4.00 2.00 1 2 3
Net Working Capital Ratio N-18

Total Assets Turnover N-19

Total Assets Turnover N-19

10.00 5.00
Total Assets Turnover N19

1 2 3

Total Assets

Fixed Assets Turnover N-20

Cash Ratio N-21

Debt/capital N-22

Debt/capital N-22
0.04 0.03 0.02 0.01 1 2 3
Debt/capital N-22

Debt/Assets N-23

Debt/Assets N-23
0.04 0.03 0.02 0.01 1 2 3
Debt/Assets N23

Financial leverage ratio N-24

Financial leverage ratio N-24

1.50 1.00 0.50 1 2 3
Financial leverage ratio N-24

Pre-Tax Margin N-25

Pre-Tax Margin N-25

0.06 0.04 0.02 1 2 3
Pre-Tax Margin N25

``

serious for the management of the company/ the ratios of gross proit are