Horizontal or Trend Analysis

Balance Sheet:
Comparative Balance Sheet
December 31, 2010, 2009 and 2008
(Rupees in ‘000’ )
Assets Increase(Decrease) Increase(Decrease)
2010 and 2009 2009 and 2008
Amount Percent Amount Percent

Non Current Assets

Property, Plant & 901,383 2.95% 4,595,497 17.75%

equipment
Intangible Assets 2,977 - -
Long term Advance 0 55,373 -
Long term Deposits 0 0 0%
904,360 2.96 % 4,650,870 17.97 %
Current Assets

Stores & Spares 596,739 17.49% (748,597) (17.99%)

Stock in trade (587,795) (49.12%) 487,236 68.68%

Trade Debts (487943) (38.50%) 546,934 75.92%
Loans and advance (2961) (2.71%) (3113) (2.77%)
Short term (179,880) (94.85%)
prepayments 39046 400.02%
Other Receivables 125,554 211.90% (830,953) (93.34%)
Tax refund due from 0
the Govt. 0
Taxation – Net (31,433) (17.80%) 45685 34.90%
Sales tax refundable 77,777 193.65% (593,974) (93.66%)
Cash and Bank (715,462) (68.19%) 779,080 288.53%
balances
(986,478) (12.55%) (497,582) (5.96 %)
Total Assets (82,118) (0.21%) 4,153,288 12.13 %
Equity & Increase (Decrease) Increase (Decrease)
Liabilities 2010 and 2009 2009 and 2008
Amount Percent Amount Percent

Share Capital &

Reserves

Share Capital 0 0
Reserves 1,843,957 9.21% 4,596,549 29.80%
1,840,957 7.91% 4,596,549 24.64%

Non Current
Liabilities

Long term Finance (2,641,400) (61.42%) (2,333,333) (35.17 %)

Long term deposits 3368 11.78% (1,663) (5.49 %)
Deferred Liabilities 84,584 36.04% 60,462 34.71 %
Deferred taxation 84,360 5.70% 419,492 39.61 %
(2,469,088) (40.86%) (1,855,042) (23.49 %)

Current Liabilities

Trade and other 365,964 13.66% (872,187) (24.57 %)

payables
Accrued Mark up (77,881) 33.375 (55,596) (19.23 %)
Short term 79,171 1.27% 2,581,231 71.56 %
borrowings
Current portion of 175,759 (241,667)
long term finance
543,031 5.96% 1,411,781 18.37 %
Total Equity & (82,118) (0.21%) 4,153,288 12.13 %
Liabilities