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     A PROJECT OF FINANCIAL ANALYSIS

    ON

    LUCKY CEMENT

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    PRESENTED TO:

     PROF, AYESHA ANWAR

    PRESENTED BY:

    Muhammad Tayyab 111405

    Muhammad Irfan 103125

    M. Qamar Abbas 103141

    Farhan Ahmad 091334

     The Institute of Management Sciences (Pak-AIMS) Page 2

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    ACKNOWLEDGEMENT

    We would l!e "o #ay our #rases and humbles" "han!s "o AL-MIGHTY

    ALLAH$ "he mos" Mer%ful and &enef%a"e of all$ who bes"owed us w"h "he

    abl"y "o %om#le"e "hs #ro'e%". I" ()es us mmense #leasure and honor "o e*"end

    our "han!s "o our !nd + %oo#era")e . ,rof Ayesha Anwar from Faculty of 

     Institute of Management Sciences$ -ahore for hs )aluable ad)%es and su((es"ons

    "hrou(hou" our semes"er$ n order "o #erform well + u# "o mar!..

    Fnally$ we #ay re(ards of (ra""ude "o our #aren"s$ as "hey and "her #rayers for our 

    su%%ess are always been a #llar of s"ren("h for us n our lfe.

     The Institute of Management Sciences (Pak-AIMS) Page 3

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    Table of ContentsINTRODUCTION !

    "oun#e$ %isto$& 7

    COMP'N( IN"ORM'TION)

    *oa$# of re%"ors )

    *USIN+SS STR'T+,(12

    1. /oldn( and (rown( lo%al domnan%e12

    2. In%reasn( our share n In"erna"onal mar!e"12

    3. ff%en%y 12

    4. us"anable e)elo#men"12

    5. / *%ellen%e 12

    or#ora"e ,hloso#hy13son "a"emen" 13

    Msson "a"emen" 13

    -o(o ,hloso#hy13

    '-'RDS 1.

    ea#e$shi 's Soi# 's Conc$ete1

    COMMUNIT( D++OPM+NT41

    De5eoment of the Coman& 16

    IN+STOR R+'TIONS1)

    +PORTS1)

    C+M+NT M'NU"'CTURIN, PROC+SS21

    8U'IT( 'SSUR'NC+ 23

    C+RTI"IC'T+2.

    PRODUCTS O" T%+ COMP'N(2.

    , 6rdnary ,or"land emen"782.

    6ul#ha"e ess"an" emen"782

    ln!er82

    &lo%! emen"8 2!SUST'IN'*IIT(2!

    *ui#ing net9o$:4 31

    Pa:istan *usiness Counci ;P*C

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    *ui#ing Net9o$:32

    Pa:istan Institute of Co$o$ate ,o5e$nance ;PIC,onta 'na&sis of Statement of "inancia Position.1

    Ratio 'na&sis of uc:& Cement emite#.2

    urren" a"o8.3

    In)en"ory Turno)er8.3ross ,rof" a"o8 .3

    #era"n( ,rof" Mar(n8.3

     :e" ,rof" a"o8 ..

    e"urn on a#"al m#loyed..

    e"urn on Asse"s8..

    Asse"s Turno)er a"o8..

    Qu%! a"o8 .

    eb" ra"o8 .

    In"eres" %o)er8.!

    arnn( #er share8 .!

    "andards$ amendmen"s and n"er#re"a"ons ado#"ed durn( "he year .!

    Recommen#ations an# "inancia St$ateg&4.7

    Concusion4 .7

     The Institute of Management Sciences (Pak-AIMS) Page

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    INTRODUCTION

    -u%!y %emen" #onsored by well !nown ;

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    Foune! H"sto!#

    -a"e Abdul aCCa! Tabba$ "he de%eased harman of "he

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    Mr. Abdul aCCa! Tabba s no more amon( us bu" hs )alues %on"nue$ ()n( ho#e and s"ren("h

    "o all "he members asso%a"ed w"h "hese were

    some of "he many (oals se" by our la"e harman + hef *e%u")e Mr. A. aCCa! Tabba.

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    J. MKs.

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    C!ie" O&er'ti() O""icer

    Mr. Noman Hasan

    Director Fi('(ce '(* Co+&'(, Secret'r,

    Mr. Muhammad Abid Ganatra

    FCA, FCMA, FCIS

    St't$tor, A$*itor

    M/s. Ernst & Young Ford Rhodes

    Sidat Hyder, Chartered Accountants

     A member firm of Ernst &

     Young Global Limited

    I(ter(' A$*itor

    M/s. M. Yousuf Adil Saleem & Co.,

    C!'rtere* Acco$(t'(t

     A member firm of Deloitte Touche

     Tohmatsu

    Cot A$*itor

     The Institute of Management Sciences (Pak-AIMS) Page 10

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    M/s. KPMG Taseer Hadi and Co.,

    Chartered Accountants

    He'* O""ice:

    6-A, Muhammad Ali Housing Society,

     A. Aziz Hashim Tabba Street,

    Karachi - 75350

    UAN # (021) 111-786-555 Website: www.lucky-cement.com

    E-mail:[email protected]

    Li'io( O""ice

    Mul"an

    as"a(r Tower$ 1s" Floor$ /assan ,arwana oad$ :ear era Ada$ Mul"an

     Tel8 692GJ17 454055JG

    Fa*8 692GJ17 454055Dmul"anLlu%!yG%emen".%om

    -ahore

    2nd Floor$ Al /asan ,laCa$ ama Ashrafa$ Man FeroC#ur oad$ -ahore

    A:8 692G427 111GDJG555

    Tel8 692G427 35304D0G2 Fa*8 692G427 3530435lahoreLlu%!yG%emen".%om

    Islamabad/ouse :o. 2J$ "ree" :o. D$ e%"or FGK3$ Islamabad A:8 692G517 111GDJG555

     The Institute of Management Sciences (Pak-AIMS) Page 11

    mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]

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    Tel8 692G517 2J10D04G0 Fa*8 692G5172J10D09

    dmLlu%!yG%emen".%om

    ,eshawar 

    G,ar! A)enue$ n)ers"y Town A:8 692G917 111GDJG555

    Tel8 692G917 5D44903G5D4021 Fa*8 692G917 5D509J9 #eshawarLlu%!yG%emen".%om

    Que""aF1$ Frs" Floor$ Ins""u"e of n(neers &uldn($ Nar(hoon oad$Tel 8 692GD17 2D35D3 Fa* 8 692GD17 2D292J@ue""aLlu%!yG%emen".%om

    Pro*$ctio( "'ctorie:

    1) Pezu, District Lakki Marwat, Khyber Pakhtunkhwa

    2) 58 Kilometers on Main Super Highway, Gadap Town,

    Karachi.

    %USINESS STRATE&Y 

    ./ Ho*i() '(* )ro0i() oc' *o+i('(ce

    Fur"her renfor%n( our s"ren("h s wha" we !ee# n fo%us when des(nn( our busness s"ra"e(es

    for "he lo%al mar!e".

    1/ I(cre'i() o$r !'re i( I(ter('tio(' +'r2et

    &roadenn( our horCons$ we ha)e en(a(ed our resour%es "o "he un%on)en"onal mar!e"s "o

     be%ome a%%essble "o be "he %ons"ru%"on ndus"ry worldwde.

     The Institute of Management Sciences (Pak-AIMS) Page 12

    mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]

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    3/ E""icie(c,

    ff%en%y s refle%"ed n all our busness a##roa%hes$ ()n( us an ed(e o)er "he %om#e""ors n

    %os" and ener(y$ by s!llful u"lCa"on of resour%es.

    4/ S$t'i('5e De%eo&+e(t

    We bele)e n ()n( ba%! "o "he %ommun"es we o#era"e n and "o "he so%e"y a" lar(e. We

    endea)or "o s"mula"e en)ronmen"al awareness amon( "he s"a!eholders and ha)e a broad )son

    for "he sus"anable world.

    6/ HR E#cee(ce

    We bele)e n #eo#le de)elo#men". ur /uman esour%e s our asse" and an m#or"an" fa%"or n

    our su%%ess. ur n"elle%"ual %a#"al #ro)des a framewor! "ha" ser)es as a (udn( for%e for "he

    or(anCa"on as a whole.

     Cor&or'te P!ioo&!,

    7iio( St'te+e(t

    We en)son ben( "he leader of "he %emen" ndus"ry n ,a!s"an$ den"fyn( and %a#"alCn( on

    new o##or"un"es n "he (lobal mar!e"$ %on"rbu"n( "owards ndus"ral #ro(ress and sus"anable

    fu"ure$ whle ben( res#onsble %or#ora"e %"Cens.

    Miio( St'te+e(t

    ur msson s "o be a #remum %emen" manufa%"urer by buldn( a #rofessonal or(anCa"on$

    ha)n( s"a"eGofG"heGar" "e%hnolo(y$ den"fyn( new #ros#e%"s "o rea%h (lobally and man"an

     The Institute of Management Sciences (Pak-AIMS) Page 13

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    ser)%e and @ual"y s"andards "o %a"er "o "he n"erna"onal %ons"ru%"on needs w"h an

    en)ronmen"Gfrendly a##roa%h.

    Lo)o P!ioo&!,

    e%en"ly$ we laun%hed our new den""y mar!n( a s(nf%an" mles"one n our hs"ory. ur new

    lo(o re#resen"s "he %ore )alues "ha"

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    O K'r'c!i C!'+5er o"  Co++erce '(* I(*$tr,:

    Awarded "he *#or" Tro#hy "o -u%!y emen" for h(hes" e*#or"s of %emen" from ,a!s"an.

    O K!,5er P'2!t$(2!0' C!'+5er o" Co++erce '(* I(*$tr,:

    Awarded "he follown( ds"n%"ons8

    To# ales Ta* ,ayer

    To# In%ome Ta* ,ayer

    To# *#or"er

    To# Im#or"er

    *#or"s Tro#hy 2009 > 2010

    Leae!s'"( As Sol" As Con)!ete

    I was "he frs" one "o rea%h "he "o#. :one$ bu" my shadow was my %om#e""on. I reled on "he

    s"ren("h of my body and soulP my (udn( s"ars were fa"h$ hones"y and e*%ellen%e. I fred abo)e

    "he mar! "ha" I n"ended "o h". ner(y and n)n%ble de"ermna"on w"h "he r(h" mo")es are "he

    le)ers "hrou(h wh%h I mo)ed "he world. efle%"n( on my su%%ess$ " s e)den" "ha" I am "he

    un#aralleled mar!e" leader. Throu(h my s"ra"e(es$ I an"%#a"e "he needs of "he ndus"ry. I ha)e

    mana(ed "o s"ay on "o# w"h %u""n( ed(e solu"ons$ buldn( your dreams and ma!n( "hem a

    real"y. n my 'ourney$ I ha)e lef" "ra%es for wnners "o be%ome %ham#ons. As I embar! on a

    new %ha#"er "o hel# sha#e "he fu"ure of our na"on$ you %an res" assured "ha" I wll del)er you

    w"h leadersh# as sold as %on%re"e.

     The Institute of Management Sciences (Pak-AIMS) Page 1

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    I am -u%!y emen"

    CO$$UNITY DE*ELOP$ENT+

     

    W'ter $&&, Sc!e+e 't D'rr' Pe8$:

    -u%!y emen" es"ablshed wa"er su##ly s%heme and ds"rbu"on lnes "o #ro)de %lean

    drn!n( wa"er "o "he resden"s of arra ,eCu. The 9 Bm wa"er su##ly lne #ro)des %lean

    drn!n( wa"er fa%l"y "o "he resden"s of "he rural lo%al"es s"ua"ed n "he ou"s!r"s of arra

    ,eCu "own. The ds"rbu"on lne s"ar"s from -u%!y emen"Es ,eCu ,lan" and #ro)des wa"er "o

    ou"s!r"s of ,eCu by %onne%"n( w"h "wo wells made by --. From "hese wells$ wa"er s "hen

     #assed "o "he old ds"rbu"on lnes and hen%e s#reads all o)er arra ,eCu. Ths wa"er su##ly lne

     #ro)des drn!n( wa"er "o almos" 0R of "he #o#ula"on of ,eCu$ wh%h s e@ual "o 5$000

    households. u"sde ,eCu$ almos" 2$000 households (e" wa"er from "hese lnes

      Utr'o$(* "'ciit, 't Mot!er '(* C!i* He't! C're Ce(tre

    o -u%!y emen"$ n #ar"nersh# w"h on%ern for hldren Trus" 6F7$ s se""n(

    u# an l"rasound fa%l"y a" Mo"her and hldren /eal"h are en"re 6M/7 n

    Ma%har olony$ a slum area n Bara%h. The Ma%har olony has a #o#ula"on of

    a##ro*ma"ely 50$000 #eo#le de#r)ed of bas% ne%ess"es of lfe n%ludn(

    @ual"y heal"h %are for women. &y es"ablshn( "hs fa%l"y$ -u%!y emen" and

    F amEs a" %rea"n( awareness abou" #rena"al and #os" na"al %are of mo"her and

     The Institute of Management Sciences (Pak-AIMS) Page 1!

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    %hld$ safe %hld br"h and #re)en"on and %ure of any dsabl"es n %hldren a" an

    early s"a(e.

      Mo*e 7i')e i( DI K!'(

    o Af"er #ro)dn( relef "o "he affe%"ees of "he mass)e des"ru%"ons %aused by floods

    and hea)y rans las" year$ -u%!y emen" fo%used all "he effor"s "owards

    rehabl"a"on of "he I,s. -u%!y emen" (enerously dona"ed J00 %emen" ba(s for 

    "he %ons"ru%"on of a model )lla(e n era Ismal Bhan.

      Sc!o'r!i& Pro)r'+ "or t!e t$*e(t o" Pe8$

    o -u%!y emen"Es mana(emen" n ,eCu has n"a"ed a mer" %um need based

    s%holarsh# s%heme for "he lo%al s"uden"s of radua"e and ,os" radua"e le)els$

    re(s"ered w"h / re%o(nCed ns""u"ons "o enable "hem "o a%@ure h(her 

    edu%a"on.

      Wor*-C' Pri+'r, Sc!oo i( D'rr' Pe8$

    o -- s all se" "o %ons"ru%" a worldG%lass #rmary s%hool$ near "s fa%"ory n ,eCu$

    s"r%" -a!! Marwa"$ n #ar"nersh# w"h a renowned :$ %har"ered by "he

    o)ernmen" of ,a!s"an and endorsed by "he World &an!. Ths s%hool wll be

    affla"ed w"h ,a!s"anEs well !nown s%hool sys"em and wll #ro)de a%%ess "o

    @ual"y edu%a"on "o "he resden"s of "he area. In frs" #hase$ "he %om#any wll

     The Institute of Management Sciences (Pak-AIMS) Page 17

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    es"ablsh a #rmary s%hool$ wh%h wll la"er be e*#anded "o se%ondary edu%a"on

    as well. Ths s%hool wll be s"ra"e(%ally %ons"ru%"ed n an area where "here are no

    su%h fa%l"es %urren"ly a)alable.

     

    L$c2, Cit, Sc!oo 9 Pe8$

    o -- also runs a wellGman"aned #rmary s%hool$ u# "o %lass f)e$ for "he %hldren

    of "he fa%"ory wor!ers n ,eCu. The s%hool s re(s"ered w"h &enu du%a"on

    &oard and #ro)des @ual"y and free of %os" edu%a"on "o "he %hldren of 

    em#loyees.

     

    DI K!'( Air&ort Re(o%'tio(

    o The %om#any also "oo! res#onsbl"y of "he reno)a"on of I Bhan Ar#or" as a

    welfare (es"ure for "he lo%als of "he area and "o boos" o)erall %ommer%e and

    e%onomy. #(radn( of "he ar#or" e*"eror and n"eror has been %om#le"ed$ alon(

    w"h #ro)son of furn"ure for bo"h arr)als and de#ar"ure loun(es.

    Deelo(-ent of t'e Co-(an#

     The Institute of Management Sciences (Pak-AIMS) Page 16

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    .3 -s"ed on Bara%h$ -ahore and Islamabad "o%! *%han(es

    .; n"ered n"o %ommer%al busness w"h #rodu%"on %a#a%"y of 1.2

    mllon "ons #er annum 6-nes A and & a" ,eCu ,lan"7. ,rodu%"on %a#a%"y n%reased "o 1.5 mllon "ons #er annum

    1

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    -u%!y emen" realCes "he m#or"an%e of n"era%"on w"h "he e*s"n( shareholders and #o"en"al

    n)es"ors of "he om#any and n "hs res#e%" #ar"%#a"es n )arous n)es"or %onferen%es held

    from "me "o "me domes"%ally or abroad.

    For "he las" %ou#le of years$ -- has been #ar"%#a"n( n na"onal and n"erna"onal onferen%es

    "o mee" and n"era%" w"h e*s"n( and #o"en"al n)es"ors for a""ra%"n( fore(n n)es"men" n"o

    "he oun"ry.

    These %onferen%es are a""ended by re#resen"a")es of &an!s$ Asse" Mana(emen" %om#anes$

    Insuran%e %om#anes and )arous o"her %or#ora"e nd)duals.

    -u%!y emen" > :T:8 0009D0GD

    -u%!y emen" G e(s"ra"on :umber8 00311D2

    For any n)es"or rela"ed @ueres and K or (re)an%es$ %on"a%" our or#ora"e Affars e#ar"men" or 

    )s" ,?s In)es"or om#lan" e%"on.

    E.PORTS

     ,a!s"an?s frs" %om#any "o e*#or" sCable @uan""y of loose %emen" and " s "he only

    %emen" manufa%"urer "o ha)e a loadn( and s"ora(e "ermnal a" Bara%h ,or". Ths s"a"eGofG"heGar"

     #ro'e%" s based on "he la"es" uro#ean "e%hnolo(y and "he frs" n ou"h as" Asa and

    Mddle as"ern re(on. Ths "ermnal s e@u##ed w"h lo(s"%al arran(emen"s "o %arry loose

    %emen"$ wh%h s "ransferred "o "he #or" from our Bara%h ,lan" )a a flee" of es#e%ally des(ned

    %emen" bul!ers$ "hey are %a#able of offGloadn( loose %emen" n"o %arrer sh#s dre%"ly "hrou(h a

     The Institute of Management Sciences (Pak-AIMS) Page 20

    mailto:[email protected]://www.secp.gov.pk/complaintform1.aspmailto:[email protected]://www.secp.gov.pk/complaintform1.asp

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    un@ue %om#ressor sys"em ns"alled on ea%h )eh%le. a%h bul!er %an %arry u# "o 5 "ons of 

    %emen".

    ur nfras"ru%"ure a" Bara%h #or" s s#e%ally des(ned "o "ransfer loose %emen" "o "he )essels n

    "he shor"es" amoun" of "me$ ma!n( " eff%en" and relable for redu%n( "he )essels dle "me $ n

    "urn ma!n( "he sh#men"s "mely as #er "he %us"omer re@uremen"s. We ha)e ns"alled %emen"

    s"ora(e slos a" "he #or" wh%h are %a#able of s"orn( 24$000 "ons of %emen". -- has se" u#

    au"oma"% sh# loaders a" "he s"e "o ma!e a fully au"oma"% loadn( from "he slos when "he

    )essels arr)e. Ths sys"em wor!s a" fas" ds%har(e ra"es and enables @u%! loadn( "me$ ensurn(

    %emen" a)alabl"y a" "he #or" any"meP "hus #layn( a ma'or role n n%reasn( our e*#or"

    %a#a%"y. The loadn( %a#a%"y of "hs "ermnal s 12$000 "ons of loose %emen" #er day$ wh%h

    de#ends u#on "he sCe and %ons"ru%"on of )essel6s7. In order "o s"ore lar(e amoun" of %emen"$

    four slos ha)e been ns"alled$ ea%h slo has a %a#a%"y "o s"ore around J000 me"r% "ons %emen"$

    and under(round sys"em has been des(ned "o unload bul!ers$ s"ore %emen" n"o slos and "ransfer 

    re@ured @uan""y of loose %emen" n"o )essels.

    The whole sys"em s des(ned on "he bass of ,- 6,ro(rammable lo(% %on"rol7 sys"em. All

     #ro%esses (o "hrou(h a f*ed re#e"")e se@uen%e of o#era"ons "ha" n)ol)es lo(%al s"e#s and

    de%sons. ,-s are used "o %on"rol "me and re(ula"e "he sys"em$ "he e*"ra%"on of %emen" from

     bul!ers and reloadn( n "o )essels s #ro%essed "hou(h )a%uum #um#s and %om#ressors$ wh%h

    o#era"e "hrou(h #owerful (enera"ors. The %emen" "ransfer )olumes a""aned "hrou(h "hs sys"em

    s a##ro*ma"ely 500 me"r% "ons #er hour. A s"ron( wor! for%e of s!lled nd)duals$ n%ludn(

    en(neers$ "e%hn%ans and labor are em#loyed a" "he %om#any?s "ermnal on #or".

     The Institute of Management Sciences (Pak-AIMS) Page 21

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    W"h "hs s#e%alCed wor! for%e$ -u%!y emen" s %a#able of loadn( around 2000 "ons of 

     ba((ed %emen" #er day$ and 3000 "ons %emen" #er day n sln( ba(s. Ths re%ord ra"e of loadn(

    s a%he)ed "hrou(h our wellG"raned s"e)edores who man"an load ra"e and u"lCe "her 

    %a#abl"es "o "he ma*mum. To da"e$ more "han 50 mllon "ons of loose %emen" has been

    e*#or"ed "hrou(h "he #lan" ns"alled a" Bara%h #or".

    CE$ENT $ANUFACTURIN& PROCESS

    emen" s a fne$ sof"$ #owdered subs"an%e$ made from a m*"ure of elemen"s "ha" are found n

    na"ural ma"erals su%h as lmes"one$ %lay$ ron ore and sand. When %emen" s m*ed w"h wa"er$ "

    %an bnd sand and "urns n"o a hard$ sold mass %alled %on%re"e.

    R'0 M'teri' Pre&'r'tio(

    The !ey elemen" > -mes"one and %lay are mned "hrou(h blas"n( from ro%! @uarres by se""n(

    off e*#los)es. -mes"one and %lay %on"ans %al%um$ sl%on$ alumnum and ron$ wh%h are "he

    essen"al elemen"s for %emen" manufa%"urn(. -a"es" "e%hnolo(y s used for blas"n( so as "o

    ensurn( )bra"on$ dus"$ and nose emssons are !e#" a" a mnmum le)el. &las"n( #rodu%es

    ma"erals n a wde ran(e of sCes from a##ro*ma"ely 1.5 me"ers n dame"er "o smaller #ar"%les

    less "han a few mllme"ers n dame"er. Quarred ma"eral s "he loaded n"o "ru%!s or bel"s for 

    "rans#or"a"on "o "he %rushn( #lan". Throu(h a seres of %rushers and s%reens$ "he -mes"one s

    redu%ed "o a sCe less "han 100 mm and s s"ored un"l re@ured.

    Pre - Ho+o)e(i8'tio(

     The Institute of Management Sciences (Pak-AIMS) Page 22

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     [FINANCIAL ANALYSIS]27/12/2012

    In "he dry #ro%ess$ ea%h raw ma"eral s #ro#or"oned "o mee" a desred %hem%al %om#os"on and

    fed "o a )er"%al s"eel mll. The raw ma"erals are dred w"h was"e #ro%ess (ases and (rnded

    "hrou(h "he #ressure e*er"ed by "hree %on%al rollers n a ro"ary !ln. The ro"ary !ln s fred w"h

    an n"ense flame #rodu%ed by burnn( %oal$ %o!e$ ol$ (as or was"e fuels. The dry ma"erals

    e*"n( "he mll are %alled S!ln feedS. The !ln feed s #neuma"%ally blended "o ensure "he

    %hem%al %om#os"on s well homo(enCed and s "hen s"ored n se#ara"e slos un"l re@ured.

    &as% %hem%al rea%"ons "ha" "a!e #la%e n "he !ln$ a" 1400 are8 )a#ora"on of mos"ure$

    %al%na"ons of "he -mes"one "o #rodu%e free %al%um o*de and rea%"on of "he %al%um o*de

    w"h o"her ma"erals 6sand$ shale$ %lay$ and ron7. Ths resul"s n a fnal$ nodular$ redGho" #rodu%"

    !nown as Sln!erS wh%h s 3 > 4 %en"me"ers n dame"er and %an be s"ored for se)eral mon"hs.

    Fi(i!i()? P'c2')i() '(* Ditri5$tio(

    The %ln!er s %ooled and (rnded n"o a fne (rey #owder. The (rndn( s done "hrou(h

    dfferen"GsCe s"eel balls. A small amoun" of (y#sum and o"her #ro%ess are also added durn( "he

    fnal (rndn(. The amoun" of (y#sum and #ro%ess added durn( "he #ro%ess )ares n all of "he

    fnal %emen" #rodu%"s. a%h %emen" #rodu%" s s"ored n an nd)dual slo from where " s

    "rans#or"ed "o #a%!a(n( fa%l"y for e"her sa%! > #a%!a(n( or bul! "rans#or"a"on. &ul! %emen"

    s ds"rbu"ed "hrou(h bul!ers or s sh##edP de#endn( on "he %us"omerEs needs.

    /UALITY ASSURANCE

    -u%!y emen" (rea"ly em#hasCes n manufa%"urn( h(h @ual"y %emen" "hrou(h s"rn(en"

    @ual"y %on"rol "e%hn@ues and %om#u"erCed %on"rol sys"ems. sn( so#hs"%a"ed e@u#men" l!e

     The Institute of Management Sciences (Pak-AIMS) Page 23

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     [FINANCIAL ANALYSIS]27/12/2012

    s"rbu"ed on"rol ys"em 67$ ,ro(rammable -o(% on"rollers 6,-s7 and on lne UGay

    AnalyCers. We ha)e one of "he bes" e@u##ed labora"ores$ w"h fa%l"es for analyss of raw

    ma"eral$ sem furnshed #rodu%"$ furnshed #rodu%" and fuel$ "o ensure "he su##ly of h(h @ual"y

     #rodu%" "o mar!e".

    Qual"y of "he %emen" has been "es"ed and #ro)en u# "o "he s#e%f%a"ons men"oned n ,a!s"an$

    &r"sh$ Indan$ Benyan$ :(eran$ ou"h Afr%an and r -an!an "andards.

    -u%!y emen" has been a%%red"ed by follown( n"erna"onal bureaus of "andards8

    1. &ureau of Indan "andards

    2. r -an!an "andard Ins""u"e

    3. "andards r(anCa"on of :(era

    4. Benya &ureau of "andards

    5. ou"h Afr%an &ureau of "andards.

    -u%!y emen" s also an I 90018200D and I1400182004 %er"fed %om#any

     The Institute of Management Sciences (Pak-AIMS) Page 2.

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    CERTIFICATE

    PRODUCTS OF THE CO$PANY 

    OPC @Or*i('r, Port'(* Ce+e(t:

    We offer rdnary ,or"land emen" 6,7 "ha" s used n all (eneral %ons"ru%"ons$ es#e%ally n

    ma'or and #res"(ous #ro'e%"s where %emen" s needed "o mee" s"rn(en" @ual"y re@uremen"s. I"

    %an also be used n %on%re"e mor"ars and (rou"s$ e"%. rdnary ,or"land emen" s

    %om#a"bleK%onsumable w"h adm*"ureK re"arders$ e"%.

     The Institute of Management Sciences (Pak-AIMS) Page 2

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    , has easy wor!abl"y and lower hea"

    of hydra"on. We man"an our "e%hn%al

    s"andard of @ual"y #arame"er a" h(h le)el

    and w"h h(h s"ren("h a" all a(es. ur 

    , %emen" sa"sfes : 19J K 19 > 1$

    A&$ &I$ -I + , > 232 19D3 67.

    SRC @S$&!'te Reit'(t Ce+e(t:

    &y man"ann( 3A le)el w"hn "he s#e%fed lm" of 3.5R$ our ul#ha"e ess"an" emen" s

    more ress"an" "o ul#ha"e a""a%!s and s su"able for use n founda"ons near seashore and %anal

    lnn(s.

    has lower hea" of hydra"on and "s s"ren("h sa"sfes &. 402 K 19D0 + , J12 K 19D9.

    Ci(2er:

    We also offer %ln!er "o "he %us"omers w"h "her own (rndn( un"s. ln!er %an be easly

    handled by ordnary mneral handln( e@u#men" and %an be s"ored for se)eral mon"hs w"hou"

    %om#romsn( on "he @ual"y. ln!er s "he #rmary #rodu%" n "he %emen" manufa%"urn(

     #ro%ess where lmes"one$ %lay and sand are (rnded and hea"ed$ before "he (y#sum s added "o

     #rodu%e "he fnal #rodu%" of %emen".

    Boc2 Ce+e(t:

    &y "he na"ure of #rodu%"$ &lo%! emen" s smlar "o "he $ w"h a s(nf%an"ly dar!er %olor 

    and some low se""n( "me "o mee" "he re@uremen"s of "he mar!e" and for "he #rodu%"on of 

     blo%!s. &lo%! emen" also man"ans 3A le)el w"hn "he s#e%fed lm" of 3.5R.

    BRANDS AVAILABLE AT LUCKY CEMENT

     The Institute of Management Sciences (Pak-AIMS) Page 2!

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    uck! CEME"T (RE#$AR) uck! STAR 

    uck! #% uck! S$'ATE RESISTA"T CEME"T (SRC)

    SUSTAINA%ILITY 

    &usness leaders a%ross "he (lobe$ a##re%a"e "he fa%" "ha" busness s no" 'us" abou"

    ma!n( @ual"y #rodu%"s or sa"sfyn( your %len"s. &eyond "he re@uremen" of le(al

    se""n(s$ busnesses are now re@ured "o mana(e "he wder so%al

    and en)ronmen"al %onse@uen%es of "her a%"ons.

     The Institute of Management Sciences (Pak-AIMS) Page 27

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    -u%!y emen" s a%")ely %on"rbu"n( "owards "he welfare of "he so%e"y and #lays "s #ar" n

    areas of edu%a"on$ en)ronmen"al awareness$ and heal"h and %ommun"y de)elo#men".

    &ele)n( n far and "rans#aren" #ra%"%es$ we ha)e re#or"ed se#ara"ely on our sus"anabl"y

    n"a")es for "he fnan%al year 2011. ur us"anabl"y e#or" 2011 has been assessed w"h a

    -e)el he%! VA? by "he lobal e#or"n( In"a")e 6I7. Ths ma!es us "he only %om#any n

    ,a!s"an "o re%e)e -e)el he%! A n "he year 2010 > 2011

     The Institute of Management Sciences (Pak-AIMS) Page 26

    http://www.lucky-cement.com/images/documents/Sustainability-Report-2011/LCL%20Sustainability%20Report%202011.htmlhttp://www.lucky-cement.com/images/documents/Sustainability-Report-2011/LCL%20Sustainability%20Report%202011.html

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     The Institute of Management Sciences (Pak-AIMS) Page 2)

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     [FINANCIAL ANALYSIS]27/12/2012

    uc:& Cement ? 20@

    *est9a& Cement ? 11@

    D, Ahan Cement ? 1@

    Mae eaf Cement ? 10@

    Aohat Cement ? @

    afa$ge Cement ? !@

    Pionee$ Cement ? .@

    'ttoc: Cement ? !@

    Othe$s? 23@

     The Institute of Management Sciences (Pak-AIMS) Page 30

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     The Institute of Management Sciences (Pak-AIMS) Page 31

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     [FINANCIAL ANALYSIS]27/12/2012

    %u"l"n0 net1o!2+

    -u%!y emen" man"ans a s"ron( ne"wor! of asso%a"on w"h "s %or#ora"e s"a!eholders. ur 

    asso%a"on w"h #romnen" #ubl% and %or#ora"e #la"forms enable

    us n s"ren("henn( our bond w"h lo%al as well as n"erna"onal busnesses.

    Pa2"stan %us"ness Coun)"l 3P%C4 

    ,& re#resen"s b( busnesses$ en"er#rses w"h subs"an"al n)es"men"s n

    manufa%"urn( and n "he fnan%al se%"or. ,&?s am s "o #romo"e and

    fa%l"a"e "he n"e(ra"on of ,a!s"an busnesses n"o world e%onomy and "o en%oura(e "he

    de)elo#men" and (row"h of ,a!s"an %om#anes.

    CSR Asso)"at"on of Pa2"stan

    The Asso%a"on of ,a!s"an #romo"es #rn%#les and

     #ra%"%es "o busnesses n ,a!s"an be%ause " ma!es %om#anes

    more nno)a")e$ #rodu%")e$ and %om#e"")e.

    $a!2et"n0 Asso)"at"on of Pa2"stan 3$AP4

    MA, s an nde#enden" asso%a"on "ha" #romo"es "he s"udy of all bran%hes of !nowled(e

    rele)an" "o "he #rofesson of mar!e"n(. I" #ro)des fa%l"es for "he s"udy of n@ury and resear%h

    n"o mar!e"n( #roblems. The Asso%a"on en'oys #a"rona(e from "he o)ernmen" of ,a!s"an

    and s re#resen"ed on "he Ad)sory oun%l of "he Mns"ry of ommer%e.

    US Atlant") Coun)"l

    The A"lan"% oun%l has been a #reemnen"$ non#ar"san ns""u"on de)o"ed "o #romo"n(

     The Institute of Management Sciences (Pak-AIMS) Page 32

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     [FINANCIAL ANALYSIS]27/12/2012

    "ransa"lan"% %oGo#era"on and n"erna"onal se%ur"y. The %oun%l #ro)des an essen"al forum

    for na)(a"n( drama"% shf"s n e%onom% and #ol"%al nfluen%e.

    %u"l"n0 Net1o!2 

    -u%!y emen" man"ans a s"ron( ne"wor! of asso%a"on w"h "s %or#ora"e s"a!eholders. ur 

    asso%a"on w"h #romnen" #ubl% and %or#ora"e #la"forms enable us n s"ren("henn( our bond

    w"h lo%al as well as n"erna"onal busnesses.

    Pa2"stan Inst"tute of Co!(o!ate &oe!nan)e 3PIC&4The ,I under"a!es a%")"es (eared "owards a%he)n( (ood %or#ora"e

    (o)ernan%e n "he %oun"ry and %rea"n( an enabln( en)ronmen" for 

    effe%")e m#lemen"a"on of "he ode of or#ora"e o)ernan%e. ,I s

    fo%used on en%oura(n( #rofessonal n"era%"on be"ween members and "o

    enhan%e %om#e"")eness of "he domes"% %or#ora"ons.

    SAFETY AND SECURITY 

    For us$ safe"y and se%ur"y means no" 'us" #ro"e%"n( our em#loyees from any haCards$ bu" also

    "a!n( all "he re@us"e measures "o #re)en" any harm. We ensure "ha" all our s"a!eholders are

     #ro"e%"ed from any #o"en"al haCards. Today$ when nforma"on rela"ed "o heal"h ssues s wdely

    a)alable and 'us" a %l%! away$ "here s s"ll a s(nf%an" la%! of !nowled(e re(ardn( "he "y#%al

    s(ns and rs! fa%"ors asso%a"ed w"h serous med%al %ond"ons. We effe%")ely %on"rol any rs!s

    "o n'ury or heal"h "ha" %ould arse a" "he wor!#la%e and edu%a"e our em#loyees on how "o deal

    w"h rs!s and "ran "hem w"h )arous frs"Gad "e%hn@ues.

     The Institute of Management Sciences (Pak-AIMS) Page 33

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    F"!e F"0't"n0

    We bele)e "ha" "he am#le !nowled(e n frs" ad and fre f(h"n( su##or" should be an essen"al

    as#e%" for an off%e en)ronmen" as "hese "rann(s are m#or"an" for bo"h "he su##or" #ro)der

    and "he )%"m and mnmCes "he #o"en"als of any un#leasan" e)en".

    %as") L"fe Su((o!t 5 Ca!"o(ul-ona!# Resus)"tat"on3CPR4

    &as% lfe su##or" %onss"s of a number of med%al #ro%edures #ro)ded "o #a"en"s w"h lfe

    "hrea"enn( %ond"ons "ha" may %ause #an or dysfun%"on. We or(anCed a sesson on &as% -fe

    u##or" "rann( for our em#loyees$ wh%h was fru"ful n enabln( "hem "o den"fy se)eral lfeG

    "hrea"enn( emer(en%es$ #erformn( , and ease %ho!n( n a safe$ "mely and effe%")e

    manner. All "he #ar"%#an"s a%")ely #erformed "he #ra%"%al and were ()en %er"f%a"es for "her 

     #ar"%#a"on.

     The Institute of Management Sciences (Pak-AIMS) Page 3.

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     [FINANCIAL ANALYSIS]27/12/2012

    Lu)2# Ce-ent L"-"te6

    Consol"ate P!o7t an Loss A))ount

    Fo! t'e #ea! ene 8une 9:,;:

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    As you %an see n "he s"a"emen" of #rof" and loss$ lu%!y %emen"?s (ross #rof" s sCable$ a" 33

     #er%en". The ds"rbu"on %os"$ "hou(h$ are ea"n( u# a hu(e %hun! of "he re)enuesP "ha" %ould be

    an area n wh%h "o %u" ba%!. eneral o#era"n( e*#enses "a!e u# a reasonable #er%en"a(e of 

    sales$ lea)n( lu%!y %emen" w"h abou" a 1 #er%en" bo""omGlne #rof".

    Ho!"=ontal Anal#s"s of SOFP

    When we do a horCon"al analyss of "he or(anCa"on we %ome "o fnd "ha" "he sales of 

    or(anCa"on ha)e n%reased by 3=  bu" sur#rsn(ly "s %os" of ser)%es n%reased by 14

    wh%h %learly nd%a"es "ha" "he mana(emen" of "he or(anCa"on s n a )ery (ood sha#e and "he

    %orres#ondn( %os" of sales "o w"h be""er mana(emen". As a resul" e)en "he n%rease n sales has

    resul"ed "ha" %om#any (row well and #erforman%e s so (ood as %om#ared "o "he #re)ous year "

    s s"ll (rown( and m#ro)e "he sale )olume on "he or(anCa"on n "he %omn( year.

    Gro &ro"it of "he or(anCa"on s *ecre'e*  by 6 wh%h nd%a"es %learly "ha" %om#any

    (on( "o m#ro)e and %os" of (ood s no" effe%" on "he #rof" of "he %om#any.

    E#c!'()e &ro"it of "he or(anCa"on n "he year 2012 has n%reased by .43 sl(h"ly %han(e n

    "he %os" of "he %urren" year.

    ue "o all abo)e resul"s and (ood busness #erforman%e "he o)erall &ro"it of "he or(anCa"on has

    i(cre'e* by ..; wh%h s ma!e s"ron(er of "he or(anCa"on and n "he fu"ure " may n%rease

    "he #lan" and busness.

     The Institute of Management Sciences (Pak-AIMS) Page 37

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    Lu)2# Ce-ent L"-"te6Consol"ate State-ent of F"nan)"al Pos"t"on

    As on 8une 9:, ;: B6>

    Intangie 1B1. 1B!6 2B)77 :6::> :6@>9

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     T$a#e #ets1B00B!3

    ) !20B)!1 77)B30 ;6B>

    oans an# a#5ances 1.6B16) 72B1!. 6!B.71 :69@>

    Saes Ta =$efun#ae 0 0 117B)3) :6::> :6::>

    Cash an# an: aances 6..B.22 31B202 333B!2) ;6:>;96B,?,@

    ?B,???,?

    @@@,

    Total Assets?:,@9

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     [FINANCIAL ANALYSIS]27/12/2012

    >9,@;?,9

    ;?

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    Ho!"=ontal Anal#s"s of State-ent of F"nan)"alPos"t"on

    /orCon"al analyss of "he F, shows "ha" a" Asse" sde ash and ban! balan%es has been

    n%rease s(nf%an"ly and " has n%rease by 153R amoun"n( abou" s. D.4 &llon$ shor" "erm

    n)es"men"s ha)e also been n%rease by 139R wh%h means "ha" "he or(naCa"on has sold "s

    n)es"men"s "o (enera"e %ash.

    -abl"y sde of "he F, has also be%ame )ery s"ron( and )ery hu(e %han(e as %om#ared "o

    "he #re)ous year$ balan%e of "he reser)es has been n%reased by 30R wh%h s due "o "he n%rease

    n "he #rof"s of "he or(anCa"on durn( "he #as" years. -on( "erm fnan%n( of "he or(anCa"on

    has been de%rease by R amoun"n( a )ery hea)y amoun" of s. 12.5 bllon$ as "he o)erall

    lon( "erm fnan%n( s de%rease$ hen%e " wll also de%rease "he o)erall fnan%e %os" n "he fu"ure

    and " wll also de%rease "he %urren" labl"y of ne"eres" e*#enses.

    urren" -abl"es of "he or(anCa"on ha)e also been de%rease by J2R wh%h "he horCan"al

    m#ro)emen" of "he or(anCa"on.

    The share %a#"al and reser)es of "he %om#any are n%reasn( e)ery year$ wh%h shows "he s"ron(

    fnan%al #os"on of "he or(anCa"on. There s a n%rease n non%urren" labl"es of "he

    or(anCa"ons as 4R n "ha" year bu" a well de%rease n %urren" labl"es J2R. There s a 'um# n

    %om#any?s non%urren" asse"s and %urren" asse"s.

     The Institute of Management Sciences (Pak-AIMS) Page .1

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     [FINANCIAL ANALYSIS]27/12/2012

    Rat"o Anal#s"s of Lu)2#

    Ce-ent Le-"te62012 2011 2010

    urren" a"o 2.! 066 071

    Qu%! a"o 11 02) 030

    ross ,rof" a"o 33@ 27@ 27@

    #era"n( ,rof" Mar(n 21@ 1.@ 12@

     :e" ,rof" a"o 173.@ 120@ 1060@

    e"urn on a#"al m#loyed 227@ 1123@ )6.@

    e"urn on Asse"s 20.)@ 10.6@ 6)2@

    Asse" Turno)er  0)7 077 07!

    arnn( #er share 200) 1226 )7

    a#"al earn( a"o 30!@ 21)@ 301@

    eb" a"o 16@ 33@ 3.@

    In"eres" o)er  3267@ 63.@ !00@

     The Institute of Management Sciences (Pak-AIMS) Page .2

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     [FINANCIAL ANALYSIS]27/12/2012

    C$rre(t R'tio:

    The #ur#ose of usn( l@ud"y ra"o s "o de"ermne "he abl"y of "he %om#any for #ayn( off "s shor" "erm

    deb"s. The h(her )alue of l@ud"y ra"os refle%"s "ha" "he %om#any s well se%ured n #erformn( "s

    obl(a"ons of shor" "erm deb"s. The %al%ula"on of %urren" ra"o shows "ha" lu%!y %emen" s well se%ured n

    "hs re(on. I"s %urren" ra"o s 2.J4 more "han #re)ous year .DD

    I(%e(tor, T$r(o%er:

    If we %om#are "he n)en"ory "urno)er " s 3.D4 n year 2011 and 5.D4 "hs year. Ths shows "ha" %om#any

    has lower "s effor"s "o %on)er" "s n)en"ory n"o sales due "o se)eral reasons l!e #ower shor"a(e.

    Gro Pro"it R'tio:

    ,rof"abl"y ra"os are "he measure of assessn( busness #erforman%e of (enera"n( #rof"s w"h

    res#e%" "o "s e*#enses and o"her rele)an" e*#enses n a s#e%f% #erod of "me say one year. The

    h(her )alue as %om#are "o "he %om#e""ors or ndus"ry a)era(e or rela")e "o #re)ous #erod

    show "he busness s (on( well. In "he #resen" %ase$ om#any -u%!y %emen" (enera"ed 2.00

    ross ,rof" as %om#are "o year n 2011 wh%h ross ,rof" was 33.00 wh%h shows "ha" 2012

    has be""er mana(ed "s wh%h resul"ed n n%rease of "he ross ,rof".

    O&er'ti() Pro"it M'r)i(:

    om#any has (enera"ed 14R #era"n( ,rof" n 2011 and as %om#are "o #re)ous year n 2012

    #era"n( ,rof" s 21R. om#any de%rease "her fnan%e %os" and sl(h"ly %han(e n "ha" s

    and sales re)enue s so h(h as %om#ared "o "he #re)ous year and #erforman%e s so n%rease n

    "ha" year.

     The Institute of Management Sciences (Pak-AIMS) Page .3

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     [FINANCIAL ANALYSIS]27/12/2012

    Net Pro"it R'tio:

    om#any has (enera"ed 12.50R :e" ,rof" n 2011 and as %om#are "o #re)ous year n 2012 :e"

    ,rof" s 1.40R. Ths m#ro)emen" s so h(h n "he ne" #rof" "ha" %om#any m#ro)ed hs

     #erforman%e beyond "he #re)ous years. om#any de%rease hs fnan%e %os" also n%reases hs

    n%ome "ha" s effe%")e on "he n%rease "he :e" #rof" ra"o.

    Ret$r( o( C'&it' E+&o,e*

    -u%!y %emen" s )ery s"ron( n "hs area and #ro)ed "ha" "he mana(emen" s well em#loyn( "

    a#"al m#loyed 6%a#"al n)es"men"7 (enera"n( almos" 22.5R n "hs year and "he #re)ous

    year was 11.23R "ha" show "he s"ron( area of "he %om#any mana(emen" and more re"urn

    "han "he "o%! or hares and -on(G"erm -abl"es.

    Ret$r( o( Aet:

    -u%!y emen" s n%rease n re"urn on asse"s n "hs year "ha" would be 20R n 2012 and n 2011

    "ha" was 10R om#any fnan%al #os"on s s"ron( as %om#are "o "he #re)ous year.

    Aet T$r(o%er R'tio:

    Asse"s Turno)er show "ha" how mu%h %om#any has (enera"ed by em#loyn( on un" of %urren%y.

    -u%!y %emen" s (enera"n( abou" 0.9J re)enues a(ans" e.1.0 asse"s. Ths re)eals "ha" al"hou(h

    "he re"urn s )ery (ood n 2011 howe)er #erformn( so well n 2012.

     The Institute of Management Sciences (Pak-AIMS) Page ..

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     [FINANCIAL ANALYSIS]27/12/2012

    $ic2 R'tio:

    The #ur#ose of usn( l@ud"y ra"o s "o de"ermne "he abl"y of "he %om#any for #ayn( off "s

    shor" "erm deb"s. The h(her )alue of l@ud"y ra"os refle%"s "ha" "he %om#any s well se%ured n

     #erformn( "s obl(a"ons of shor" "erm deb"s. The %al%ula"on of @u%! ra"o shows "ha"

    om#any s well se%ured n "hs re(on.. The om#any %an easly mee"s "s shor" "erm

    labl"es. )en s #os"on w"h res#e%" "o In)en"ory Turno)er s also be""er. om#any Qu%! 

    a"o n 2011 was 0.2981 bu" n 2012 Qu%! a"o s 1.1581 "ha" show "he %om#any well se%ured

    n #erformn( "s obl(a"on n shor" "erm deb"s.

    De5t r'tio:

    earn( ra"o s "he measure "o %he%! "he e@u"y "o borrowed fundsKlon( "erm fnan%n(. The bes"

    measure s "he (earn( ra"o 6eb" "o e@u"y7. The resul"s of "he %om#any show "ha" "hey are

    h(hly (eared as "he #or"on of "her borrowed money s )ery mu%h h(her "han "he owners

    e@u"y. The o"her bes" measure s "o %he%!$ how mu%h "he #rof" %o)ers "s n"eres". The h(her "he

    n"eres" %o)er ra"o )alue$ "he more safe "he %om#any #os"on s. The deb" ra"o n 2011 was 33R

    and n 2012 deb" ra"o s 1DR show "he %om#any de%rease "he #ayables and remo)e all shor"

    "erm borrown( and also de%rease "he lon( "erm fnan%n( "ha" m#a%" on "he deb" ra"o and

    s"ron( #os"on of "he %om#any show as well.

    I(teret co%er:

    In"eres" %o)er ra"o s "he measure "o %he%! "he e@u"y "o borrowed fundsKlon( "erm fnan%n(.

    The bes" measure s "he (earn( ra"o 6eb" "o e@u"y7. The resul"s of "he %om#any show "ha" "hey

    are h(hly (eared as "he #or"on of "her borrowed money s )ery mu%h h(her "han "he owners

     The Institute of Management Sciences (Pak-AIMS) Page .

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     [FINANCIAL ANALYSIS]27/12/2012

    e@u"y. The o"her bes" measure s "o %he%!$ how mu%h "he #rof" %o)ers "s n"eres". The h(her "he

    n"eres" %o)er ra"o )alue$ "he more safe "he %om#any #os"on s. In"eres" o)er was D.2 n 2011

    and n 2012 " s so h(h 32.D "ha" s four "me double n "ha" year and %om#any show so "he

    h(h e@u"y n #resen" and " would shows as well s"ron( fnan%al #os"on.

    E'r(i() &er !'re:

    Mos" m#or"an" s wha" "he %om#any s #ayn( ba%! "o"s n)es"orsKowners. The (rea"er )alue of

    , man"an "he n)es"ors and owners %onfden%e on "he %om#any.The om#any s #ayn(

    almos" double "he )alue and buldn( "s be""er ma(e before "he n)es"ors. The #re)ous year

    , was 12.2D and n 2012 " s n%rease by 20.9 "ha" s (rea"er )alue of , n #resen".

    St'(*'r*? '+e(*+e(t '(* i(ter&ret'tio( '*o&te* *$ri()

    t!e ,e'r

    The a%%oun"n( #ol%es ado#"ed n "he #re#ara"on of "hese fnan%al s"a"emen"s are %onss"en"

    w"h "hose of "he #re)ous fnan%al year e*%e#" as des%rbed below8

    Ne0 '(* '+e(*e* t'(*'r* '(* i(ter&ret'tio(

    The om#any has ado#"ed "he follown( new and amended IF and IFI n"er#re"a"ons

    wh%h be%ame effe%")e durn( "he year8

    IF Fnan%al Ins"rumen"s8 s%losures 6Amendmen"7

    IA 24 ela"ed ,ar"y s%losure 6e)sed7

    IFI 14 ,re#aymen"s of a Mnmum Fundn( e@uremen"s 6Amendmen"7

    In May 2010$ In"erna"onal A%%oun"n( "andards &oard 6IA&7 ssued amendmen"s "o )arous

    s"andards #rmarly w"h a )ew "o

     The Institute of Management Sciences (Pak-AIMS) Page .!

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     [FINANCIAL ANALYSIS]27/12/2012

    remo)n( n%onss"en%es and %larfyn( wordn(. These m#ro)emen"s are ls"ed below8

    IF Fnan%al Ins"rumen"s 8 s%losures 6larf%a"on of ds%losures7

    IA 1 ,resen"a"on of Fnan%al "a"emen"s 6larf%a"on of s"a"emen" of %han(es n e@u"y7

    IA 34 In"erm Fnan%al e#or"n( 6(nf%an" e)en"s and "ransa%"ons7

    IFI 13 us"omer -oyal"y ,ro(rammes 6Far )alue of award %red"s7

    Re)o--enat"ons an F"nan)"al St!ate0#+

    In %emen" ndus"ry ha)e some ssue re(ardn( ele%"r%"y bu" "he %om#any should ha)e "om#ro)e "her s"ra"e(es and om" "hese ssues.

    • The %om#any should ha)e "o #ayoff "s lon( "erm deb"s "o a)od su%h a hea)y fnan%e

    %os"s.

    • Fnally$ " needs more e*em#lary leadersh#$ e*#and "her busness n fore(n %oun"es

    and m#ro)e #r%n( s"re"(es and aslo m#ro)e "s #erforman%e.

    Con)lus"on+-u%!y emen" -am"ed s one of "he lar(es" %emen" %om#any n #a!s"an s fnan%al #erforman%

    n 2012 s so (ood as %om#ard "o "he #re)ous yares.

    om#any mana(emen" s so s"ron( and s"ra"e(es "ha" are used s )ery usefull for "he %om#any

     be""ermen" and "s (row"h. ue "o s"a"e ssues l!e ele%"ro%"y$ (as and o"her fa%"ers no" effe%" on

    "he %om#any #erforman%e bu" aslo %om#any drama"%ally %om#any (row"h (on( h(h. om#any

    should (row "her busness as mul"na"onl and e*#or" "he #rodu%" n "he o"her %oun"res.

    T!'(2 ,o$