Sales Revenue

CGS
Gross Profit
Operating Expenses:
Distribution cost
Administrative expenses
Other operating expenses
Other income
Total Operating Expenses
Operating Profit
Interest/ Finance Cost
Profit before Tax
Tax Expense:
For the year
Prior Year
Deferred
Tax Paid
Net Income

Sapphire Textile Mills Limited

Income Statement
For the year: 2012 - 2014
2014
2013
25,411,301,753 25,283,151,486
-22,623,272,169 -21,078,288,927
2,788,029,584 4,204,862,559
-942,732,494
-239,517,075
-130,436,886
510,633,288
-802,053,167
1,985,976,417
-715,768,385
1,270,208,032

-1,075,341,922
-207,978,602
-285,862,499
394,441,259
-1,174,741,764
3,030,120,795
-664,151,644
2,365,969,151

-211,144,456
46,157,048
-121815730
-286,803,138
983,404,894

-196,524,344
0
-32,977,320
-229,501,664
2,136,467,487

2012
21,490,830,237
-18,717,432,281
2,773,397,956
-1,008,427,320
-180,104,904
-149,366,634
407,848,389
-930,050,469
1,843,347,487
-713,405,263
1,129,942,224
-220,398,703
28743065
135,392,126
-56,263,512
1,073,678,712

Sales Revenue
CGS
Gross Profit
Operating Expenses:
Distribution cost
Administrative expenses
Other operating expenses
Other income
Total Operating Expenses
Operating Profit
Interest/ Finance Cost
Profit before Tax
Tax Expense:
Net Income

Sapphire Textile Mills Limited

Vertical Analysis of Income Statement
For the year: 2012 - 2014
2014
%
2013
25411301753
100% 25,283,151,486
-22623272169
89% -21,078,288,927
2788029584
11% 4,204,862,559
-942732494
-239517075
-130436886
510633288
-802053167
1985976417
-715768385
1270208032
-211144456
983404894

4%
1%
1%
2%
3%
8%
3%
5%
1%
4%

-1,075,341,922
-207,978,602
-285,862,499
394,441,259
-1,174,741,764
3,030,120,795
-664,151,644
2,365,969,151
-196,524,344
2,136,467,487

d
ment
%
2012
100% 21,490,830,237
83% -18,717,432,281
17% 2,773,397,956
4%
1%
1%
2%
5%
12%
3%
9%
1%
8%

-1,008,427,320
-180,104,904
-149,366,634
407,848,389
-930,050,469
1,843,347,487
-713,405,263
1,129,942,224
-220,398,703
1,073,678,712

%
100%
87%
13%
0%
5%
1%
1%
2%
4%
9%
3%
5%
1%
5%

Sales Revenue
CGS
Gross Profit
Operating Expenses:
Distribution cost
Administrative expenses
Other operating expenses
Other income
Total Operating Expenses
Operating Profit
Interest/ Finance Cost
Profit before Tax
Tax Expense:
Net Income

Sapphire Textile Mills Limited

Horizontal Analysis Income Statement
For the year: 2012 - 2014
2014
%
25,411,301,753
118%
-22,623,272,169
121%
2,788,029,584
101%
-942,732,494
-239,517,075
-130,436,886
510,633,288
-802,053,167
1,985,976,417
-715,768,385
1,270,208,032
-211,144,456
983,404,894

93%
133%
87%
125%
86%
108%
100%
112%
96%
92%

xtile Mills Limited

sis Income Statement
ar: 2012 - 2014
2013
25,283,151,486
-21,078,288,927
4,204,862,559
-1,075,341,922
-207,978,602
-285,862,499
394,441,259
-1,174,741,764
3,030,120,795
-664,151,644
2,365,969,151
-196,524,344
2,136,467,487

%
2012
118% 21,490,830,237
113% -18,717,432,281
152% 2,773,397,956

%
100%
100%
100%

107%
115%
191%
97%
126%
164%
93%
209%
89%
199%

100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

-1,008,427,320
-180,104,904
-149,366,634
407,848,389
-930,050,469
1,843,347,487
-713,405,263
1,129,942,224
-220,398,703
1,073,678,712

Sapphire Textile Mills Limited

Cost of Goods Sold Schedule
For the year: 2012 to 2014
2014
2013
2012
Raw material consumed
16,705,749,011 16,044,009,088 14,091,186,804
Cost of raw material sold
69,096,361
78,348,633
79,429,239
Packing material consumed
321,577,764
293,464,725
273,374,025
Stores and spares consumed
574,247,609
614,393,903
447,813,954
Salaries, wages and benefits
1,582,756,255 1,351,245,154
1,072,376,566
Fuel, power and water
1,898,687,269 1,573,353,093
1,423,972,408
Other manufacturing expenses
572,537,140
681,752,419
445,484,722
Repair and maintenance
73,196,324
81,930,258
55,392,030
Vehicle running expenses
30,860,366
27,268,964
23,031,505
Travelling and conveyance
21,090,664
21,994,967
24,768,756
Insurance expenses
57,328,865
68,520,186
44,198,064
Rent, rates and taxes
5,429,311
6,136,766
5,275,457
Fees and subscription
6,583,198
4,780,450
2,735,528
Communication expenses
9,369,890
6,428,166
2,735,528
Printing and stationery
2,129,692
1,804,744
1,976,047
Legal and professional charges
7,205,323
4,417,016
1,976,047
Depreciation
559,980,231
504,008,415
440,199,940
Miscellaneous expenses
4,638,504
4,775,813
5,034,539
22,502,463,777 21,368,632,760 18,445,556,223
Work In Process
Opening stock
347,731,791
325,046,975
311,539,529
Closing stock
-299,835,103
-347,731,791
-325,046,975
47,896,688
-22,684,816
-13,507,446
Cost of Goods Manufactured
###
###
###
Finished Goods
Opening balance
863,499,963
595,840,946
881,224,450
Closing stock
-790,588,259
-863,499,963
-595,840,946
Cost of Goods Sold
###
###
###

Sapphire Textile Mills Limited

Vertical Analysis of Cost of Goods Sold Schedule
For the year: 2012 to 2014
2014
%
2013
Raw material consumed
16705749011
73.84% 16044009088
Cost of raw material sold
69096361
0.31%
78348633
Packing material consumed
321577764
1.42%
293464725
Stores and spares consumed
574247609
2.54%
614393903
Salaries, wages and benefits
1582756255
7.00% 1351245154
Fuel, power and water
1898687269
8.39% 1573353093
Other manufacturing expenses
572537140
2.53%
681752419
Repair and maintenance
73196324
0.32%
81930258
Vehicle running expenses
30860366
0.14%
27268964
Travelling and conveyance
21090664
0.09%
21994967
Insurance expenses
57328865
0.25%
68520186
Rent, rates and taxes
5429311
0.02%
6136766
Fees and subscription
6583198
0.03%
4780450
Communication expenses
9369890
0.04%
6428166
Printing and stationery
2129692
0.01%
1804744
Legal and professional charges
7205323
0.03%
4417016
Depreciation
559980231
2.48%
504008415
Miscellaneous expenses
4638504
0.02%
4775813
Beginning WIP
347731791
1.54%
325046975
Ending WIP
-299835103
-1.33%
-347731791
Beginninng Finnished Goods
863499963
3.82%
595840946
Ending Finished Goods
-790588259
-3.49%
-863499963
Cost of Goods Sold
### 100.0%
###

Schedule
%
2012
76.12% 14091186804
0.37%
79429239
1.39%
273374025
2.91%
447813954
6.41% 1072376566
7.46% 1423972408
3.23%
445484722
0.39%
55392030
0.13%
23031505
0.10%
24768756
0.33%
44198064
0.03%
5275457
0.02%
2735528
0.03%
2735528
0.01%
1976047
0.02%
1976047
2.39%
440199940
0.02%
5034539
1.54%
311539529
-1.65%
-325046975
2.83%
881224450
-4.10%
-595840946
100.0%
###

%
75.28%
0.42%
1.46%
2.39%
5.73%
7.61%
2.38%
0.30%
0.12%
0.13%
0.24%
0.03%
0.01%
0.01%
0.01%
0.01%
2.35%
0.03%
1.66%
-1.74%
4.71%
-3.18%
100.0%

Sapphire Textile Mills Limited

Horizontal Analysis of Cost of Goods Sold Sch
For the year: 2012 to 2014
2014
%
Raw material consumed
16705749011 119%
Cost of raw material sold
69096361
87%
Packing material consumed
321577764 118%
Stores and spares consumed
574247609 128%
Salaries, wages and benefits
1582756255 148%
Fuel, power and water
1898687269 133%
Other manufacturing expenses
572537140 129%
Repair and maintenance
73196324 132%
Vehicle running expenses
30860366 134%
Travelling and conveyance
21090664
85%
Insurance expenses
57328865 130%
Rent, rates and taxes
5429311 103%
Fees and subscription
6583198 241%
Communication expenses
9369890 343%
Printing and stationery
2129692 108%
Legal and professional charges
7205323 365%
Depreciation
559980231 127%
Miscellaneous expenses
4638504
92%
Beginning WIP
347731791 112%
Ending WIP
-299835103
92%
Beginninng Finnished Goods
863499963
98%
Ending Finished Goods
-790588259 133%
Cost of Goods Sold
22623272169 121%

extile Mills Limited

f Cost of Goods Sold Schedule
ear: 2012 to 2014
2013
%
16044009088
114%
78348633
99%
293464725
107%
614393903
137%
1351245154
126%
1573353093
110%
681752419
153%
81930258
148%
27268964
118%
21994967
89%
68520186
155%
6136766
116%
4780450
175%
6428166
235%
1804744
91%
4417016
224%
504008415
114%
4775813
95%
325046975
104%
-347731791
107%
595840946
68%
-863499963
145%
21078288927
113%

2012
14091186804
79429239
273374025
447813954
1072376566
1423972408
445484722
55392030
23031505
24768756
44198064
5275457
2735528
2735528
1976047
1976047
440199940
5034539
311539529
-325046975
881224450
-595840946
18717432281

%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%

Distribution Cost
Export Development Surcharge
Insurance (export)
Commission (exports)
Ocean Freight and Forwarding (exports)
Inland freight and handling (local)
Commission (local)
Other Distribution Cost
Grant Received from TDAP
Total Distribution Cost

2014
45,292,115
9,803,710
275,731,633
342,106,569
40,651,502
37,119,949
192,027,016

2013
37,988,892
10,246,496
403,953,701
394,719,766
36,913,267
23,241,595
178,376,205
-10,098,000
942,732,494 1,075,341,922

2012
36,776,352
5,576,109
360,280,996
402,312,979
35,936,211
18,673,741
148,870,932
1,008,427,320

Sapphire Textile Mills Limited

Variable Cost (Rupees)
2014
2013
Manufacturing Costs- Variable Component
Raw material consumed
16,705,749,011 16,044,009,088
Cost of raw material sold
69,096,361
78,348,633
Packing material consumed
321,577,764
293,464,725
Stores and spares consumed
574,247,609
614,393,903
Salaries, wages and benefits
1,582,756,255
1,351,245,154
Fuel, power and water
1,898,687,269
1,573,353,093
Other manufacturing expenses
572,537,140
681,752,419
Vehicle running expenses
30,860,366
27,268,964
Travelling and conveyance
21,090,664
21,994,967
Work In Process:
Opening stock
347,731,791
325,046,975
Closing stock
-299,835,103
-347,731,791
Finished Goods:
Opening balance
863,499,963
595,840,946
Closing stock
-790,588,259
-863,499,963
Distribution Costs-Variable Component
Commission (exports)
275,731,633
403,953,701
Ocean Freight and Forwarding (exports)
342,106,569
394,719,766
Inland freight and handling (local)
40,651,502
36,913,267
Commission (local)
37,119,949
23,241,595
Total Variable Cost
###
###

Sapphire Textile Mills Limite

Fixed Costs (Rupees)
2012
14,091,186,804
79,429,239
273,374,025
447,813,954
1,072,376,566
1,423,972,408
445,484,722
23,031,505
24,768,756
311,539,529
-325,046,975
881,224,450
-595,840,946
360,280,996
402,312,979
35,936,211
18,673,741
###

Manufacturing Costs- Fixed Component

Repair and maintenance
Insurance expenses
Rent, rates and taxes
Fees and subscription
Communication expenses
Printing and stationery
Legal and professional charges
Depreciation
Miscellaneous expenses
Distribution Costs -Fixed Component
Export Development Surcharge
Insurance (export)
Other Distribution Cost
Grant Received from TDAP
Administrative expenses
Other operating expenses
Total Fixed Cost

hire Textile Mills Limited

ixed Costs (Rupees)
2014

2013

2012

73,196,324
57,328,865
5,429,311
6,583,198
9,369,890
2,129,692
7,205,323
559,980,231
4,638,504

81,930,258
68,520,186
6,136,766
4,780,450
6,428,166
1,804,744
4,417,016
504,008,415
4,775,813

55,392,030
44,198,064
5,275,457
2,735,528
2,735,528
1,976,047
1,976,047
440,199,940
5,034,539

45,292,115
9,803,710
192,027,016
0
239,517,075
130,436,886
###

37,988,892
10,246,496
178,376,205
-10,098,000
207,978,602
285,862,499
###

36,776,352
5,576,109
148,870,932
0
180,104,904
149,366,634
###

Sales
Other income
Total Revenues
Total Variable Cost
Contribution Margin
Total Fixed Cost
Operating Income
Contribution Margin Ratio
Break Even Sales

25,411,301,753
510,633,288
25,921,935,041
22,593,020,484
3,328,914,557
1342938140
1,985,976,417

25,283,151,486
394,441,259
25,677,592,745
21,254,315,442
4,423,277,303
1393156508
3,030,120,795

13%
199399500315.39

17%
###

21,490,830,237
407,848,389
21,898,678,626
18,970,517,964
2,928,160,662
1080218111
1,843,347,487
13%
###

Sapphire Textile Mills Limited

Contribution Margin Income Statement
For the Year 2012 to 2014
2014
25,411,301,753
510,633,288
###

Sales
Other income
Total Revenues
Variable Costs:
Cost of Goods Sold:
Raw material consumed
Cost of raw material sold
Packing material consumed
Stores and spares consumed
Salaries, wages and benefits
Fuel, power and water
Other manufacturing expenses
Vehicle running expenses
Travelling and conveyance
Beginning WIP Inventory
Ending WIP Inventory
Beginning Finished Goods Inventory
Ending Finished Goods Inventory
Selling and Admin Expenses:
Commission (exports)
Ocean Freight and Forwarding (exports)
Inland freight and handling (local)
Commission (local)
Total Variable Cost
Contribution Margin
Fixed Costs:
Cost of Goods Sold:
Repair and maintenance
Insurance expenses
Rent, rates and taxes
Fees and subscription
Communication expenses
Printing and stationery
Legal and professional charges
Depreciation
Miscellaneous expenses
Selling and Admin Expenses:
Export Development Surcharge
Insurance (export)
Other Distribution Cost

16,705,749,011
69,096,361
321,577,764
574,247,609
1,582,756,255
1,898,687,269
572,537,140
30,860,366
21,090,664
347,731,791
-299,835,103
863,499,963
-790,588,259
275,731,633
342,106,569
40,651,502
37,119,949
###
3328914557

73,196,324
57,328,865
5,429,311
6,583,198
9,369,890
2,129,692
7,205,323
559,980,231
4,638,504
45,292,115
9,803,710
192,027,016

Grant Received from TDAP

Administrative expenses
Other operating expenses
Total Fixed Cost
Operating Income

0
239,517,075
130,436,886
1,342,938,140
1985976417

ls Limited
me Statement
to 2014
2013
2012
25,283,151,486 21,490,830,237
394,441,259
407,848,389
###
###

16,044,009,088 14,091,186,804
78,348,633
79,429,239
293,464,725
273,374,025
614,393,903
447,813,954
1,351,245,154
1,072,376,566
1,573,353,093
1,423,972,408
681,752,419
445,484,722
27,268,964
23,031,505
21,994,967
24,768,756
325,046,975
311,539,529
-347,731,791
-325,046,975
595,840,946
881,224,450
-863,499,963
-595,840,946
403,953,701
394,719,766
36,913,267
23,241,595
###
4423277303

360,280,996
402,312,979
35,936,211
18,673,741
###
2928160662

81,930,258
68,520,186
6,136,766
4,780,450
6,428,166
1,804,744
4,417,016
504,008,415
4,775,813

55,392,030
44,198,064
5,275,457
2,735,528
2,735,528
1,976,047
1,976,047
440,199,940
5,034,539

37,988,892
10,246,496
178,376,205

36,776,352
5,576,109
148,870,932

-10,098,000
0
207,978,602
180,104,904
285,862,499
149,366,634
1,393,156,508 1,080,218,111
3030120795
1843347487