Atlas Honda

ANALYSIS OF FINANCIAL STATEMENTS

BALANCE SHEET
Rupees in '000
PARTICULARS 2010 2009 2008 2007 2006 2005

FIXED ASSETS

Property, plant & equipment 3,224,897 3,412,901 3,376,605 3,566,931 3,598,732 1,888,736
Intangible asset 8,053 16,601 14,813 24,324 29,090 18,725

OTHERS - NON CURRENT ASSETS

Investments - Available for sale - - - 51,761 - -
Long term loans and advances 18,810 14,359 14,043 12,943 17,097 12,172
Long term deposits and prepayments 11,336 8,964 13,503 15,900 11,027 5,784

TOTAL NON-CURRENT ASSETS 3,263,096 3,452,825 3,418,964 3,671,859 3,655,946 1,925,417

CURRENT ASSETS
Stores, spares and loose tools 322,592 428,188 417,564 407,730 379,380 226,540
Stock in trade 1,664,297 1,792,036 1,862,069 1,580,925 1,937,675 1,567,530
Trade debts 445,689 320,180 407,354 282,249 280,448 139,701
Loans and advances 40,485 37,646 39,354 20,553 51,360 37,296
Trade deposits and prepayments 39,079 64,637 223,229 5,075 2,998 6,802
Investments at fair value through profit or loss 1,088,996 455,816 1,377,300 864,989 327,317 410,241
Accrued mark-up/ interest 4,513 520 812 90 543 1,734
Other receivables 11,566 39,809 20,288 45,543 32,195 14,332
Sales tax refundable - net - 61,262 149,550 - 5,880 123,090
Advance tax - net - 91,308 - 138,179 88,892 -
Cash and bank balances 1,641,963 636,426 504,138 919,623 682,088 1,432,363

TOTAL CURRENT ASSETS 5,259,180 3,927,828 5,001,658 4,264,956 3,788,776 3,959,629

TOTAL ASSETS 8,522,276 7,380,653 8,420,622 7,936,815 7,444,722 5,885,046

EQUITY & LIABILITIES

SHARE CAPITAL & RESERVES

Share capital 543,932 472,985 472,985 411,291 357,644 255,460
Reserves 2,622,118 2,622,118 2,227,118 2,009,004 1,586,118 1,203,977
Unappropriated profit 725,774 226,159 704,066 555,526 665,168 618,796

TOTAL SHARE CAPITAL & RESERVES 3,891,824 3,321,262 3,404,169 2,975,821 2,608,930 2,078,233

LONG TERM LIABILITIES

Long term liabilities 512,500 375,000 697,517 1,109,267 1,590,097 933,019
Deferred liabilities 600,015 575,862 571,004 559,487 419,689 191,788

TOTAL LONG TERM LIABILITIES 1,112,515 950,862 1,268,521 1,668,754 2,009,786 1,124,807

TOTAL EQUITY & LONG TERM LIABILITIES 5,004,339 4,272,124 4,672,690 4,644,575 4,618,716 3,203,040

CURRENT LIABILITIES
Trade and other payables 3,068,480 2,646,221 3,247,381 2,632,582 2,369,727 2,328,681
Sales tax payable - net 41,519 - - 136,794 - -
Accrued mark-up / interest 37,384 72,328 49,829 57,035 69,088 17,281
Short term borrowings - - - - 18,263 -
Current portion of long term liabilities 362,500 389,980 436,751 465,829 368,928 231,981
Provision for taxation - net 8,054 - 13,971 - - 104,063

TOTAL CURRENT LIABILITIES 3,517,937 3,108,529 3,747,932 3,292,240 2,826,006 2,682,006

22 TOTAL EQUITY AND LIABILITIES 8,522,276 7,380,653 8,420,622 7,936,815 7,444,722 5,885,046
 ANNUAL
REPORT 2010
ANALYSIS OF FINANCIAL STATEMENTS
BALANCE SHEET
Vertical Composition of Balance Sheet Horizontal % Change Year to Year
PARTICULARS 2010 2009 2008 2007 2006 2005 2010 2009 2008 2007 2006 2005
vs vs vs vs vs vs
2009 2008 2007 2006 2005 2004

37.8 46.3 40.1 44.9 48.3 32.1 -5.5 1.1 -5.3 -0.9 90.5 34.4
0.1 0.2 0.2 0.3 0.4 0.3 -51.5 12.1 -39.1 -16.4 55.4 1,127.9

0.0 0.0 0.0 0.7 0.0 0.0 0.0 0.0 -100.0 100.0 0.0 -
0.2 0.2 0.2 0.2 0.2 0.2 31.0 2.3 8.5 -24.3 40.5 31.6
0.1 0.1 0.2 0.2 0.1 0.1 26.5 -33.6 -15.1 44.2 90.6 34.0

38.2 46.8 40.7 46.3 49.0 32.7 -5.5 1.0 -6.9 0.4 89.9 35.5

3.8 5.8 5.0 5.1 5.1 3.8 -24.7 2.5 2.4 7.5 67.5 56.7
19.5 24.4 22.1 19.9 26.0 26.7 -7.1 -3.8 17.8 -18.4 23.6 22.0
5.2 4.3 4.7 3.6 3.8 2.4 39.2 -21.4 44.3 0.6 100.7 98.7
0.5 0.5 0.5 0.3 0.7 0.6 7.5 -4.3 91.5 -60.0 37.7 37.7
0.5 0.9 2.7 0.1 0.0 0.1 -39.5 -71.0 4,298.6 69.3 -55.9 (51.8)
12.8 6.2 16.4 10.9 4.4 7.0 138.9 -66.9 59.2 164.3 -20.2 (21.8)
0.1 0.0 0.0 0.0 0.0 0.1 767.9 -36.0 802.2 -83.4 -68.7 417.6
0.1 0.5 0.2 0.6 0.4 0.2 -70.9 96.2 -55.5 41.5 124.6 (40.2)
0.0 0.8 1.7 0.0 0.1 2.1 -100.0 -59.0 100.0 -100.0 -95.2 14.6
0.0 1.2 0.0 1.7 1.2 0.0 -100.0 100.0 -100.0 55.4 100.0 (100.0)
19.3 8.6 6.0 11.5 9.3 24.3 158.0 26.2 -45.2 34.8 -52.4 530.7

61.8 53.2 59.3 53.7 51.0 67.3 33.9 -21.5 17.3 12.6 -4.3 58.6

100.0 100.0 100.0 100.0 100.0 100.0 15.5 -12.4 6.1 6.6 26.5 50.3

6.4 6.4 5.6 5.2 4.8 4.3 15.0 0.0 15.0 15.0 40.0 25.0
30.8 35.5 26.4 25.3 21.3 20.5 0.0 17.7 10.9 26.7 31.7 (2.6)
8.5 3.1 8.4 7.0 8.9 10.5 220.9 -67.9 26.7 -16.5 7.5 200.6

45.7 45.0 40.4 37.5 35.0 35.3 17.2 -2.4 14.4 14.1 25.5 26.3

6.0 5.1 8.3 14.0 21.4 15.9 36.7 -46.2 -37.1 -30.2 70.4 124.8
7.0 7.8 6.8 7.0 5.6 3.2 4.2 0.9 2.1 33.3 118.8 13.4

13.0 12.9 15.1 21.0 27.0 19.1 17.0 -25.0 -24.0 -17.0 78.7 92.6

58.7 57.9 55.5 58.5 62.0 54.4 17.1 -8.6 0.6 0.6 44.2 43.6

36.0 35.8 38.5 33.2 31.9 39.6 16.0 -18.5 23.4 11.1 1.8 48.9
0.5 0.0 0.0 1.7 0.0 0.0 100.0 - -100.0 100.0 - -
0.4 1.0 0.6 0.7 0.9 0.3 -48.3 45.2 -12.6 -17.4 299.8 602.2
0.0 0.0 0.0 0.0 0.2 0.0 0.0 0.0 0.0 -100.0 100.0 100.0
4.3 5.3 5.2 5.9 5.0 3.9 -7.0 -10.7 -6.2 26.3 59.0 93.3
0.1 0.0 0.2 0.0 0.0 1.8 100.0 -100.0 100.0 - -100.0 100.0

41.3 42.1 44.5 41.5 38.0 45.6 13.2 -17.1 13.8 16.5 5.4 59.0

100.0 100.0 100.0 100.0 100.0 100.0 15.5 -12.4 6.1 6.6 26.5 50.3 23
 Atlas Honda
ANALYSIS OF FINANCIAL STATEMENTS
PROFIT & LOSS ACCOUNT
Rupees in '000
PARTICULARS 2010 2009 2008 2007 2006 2005
(Nine Months)
PROFIT & LOSS ACCOUNT

Sales 25,554,772 13,747,820 20,855,535 16,608,413 17,420,263 14,120,847

Cost of sales (23,555,842) (12,782,165) (19,298,994) (15,044,640) (15,790,546) (12,776,676)

Gross Profit 1,998,930 965,655 1,556,541 1,563,773 1,629,717 1,344,171

Distribution cost (690,794) (271,346) (267,483) (371,569) (343,087) (302,252)

Administrative expenses (264,739) (165,648) (227,759) (209,261) (185,232) (143,018)

Other operating income 233,205 89,744 263,870 150,681 173,035 171,513

Other operating expenses (86,758) (13,849) (68,878) (60,772) (75,762) (96,734)

Profit from Operations 1,189,844 604,556 1,256,291 1,072,852 1,198,671 973,680

Finance cost (112,613) (251,777) (252,091) (269,337) (151,611) (68,050)

Profit Before Tax 1,077,231 352,779 1,004,200 803,515 1,047,060 905,630

Taxation (364,773) (128,246) (301,191) (249,924) (370,228) (308,509)

Profit After Tax 712,458 224,533 703,009 553,591 676,832 597,121

CASH FLOW STATEMENT

Cash flows from operating activities 1,768,263 200,587 842,189 1,780,564 543,869 1,489,117

Cash flows from investing activities (730,915) 607,037 (572,029) (923,751) (1,962,606) (762,270)

Cash flows from financing activities (31,811) (675,336) (685,645) (619,278) 668,462 478,422

Increase / (decrease)
in cash & cash equivalent 1,005,537 132,288 (415,485) 237,535 (750,275) 1,205,269

24
 ANNUAL
REPORT 2010
ANALYSIS OF FINANCIAL STATEMENTS
PROFIT & LOSS ACCOUNT
Vertical Composition of Profit & Loss Account Horizontal % Change Year to Year
PARTICULARS 2010 2009 2008 2007 2006 2005 2010 2009 2008 2007 2006 2005
(Nine vs vs vs vs vs vs
Months) 2009 2008 2007 2006 2005 2004
PROFIT & LOSS ACCOUNT

Sales 100.0 100.0 100.0 100.0 100.0 100.0 85.9 -34.1 25.6 -4.7 23.4 41.9

Cost of sales -92.2 -93.0 -92.5 -90.6 -90.6 -90.5 84.3 -33.8 28.3 -4.7 23.6 46.6

Gross Profit 7.8 7.0 7.5 9.4 9.4 9.5 107.0 -38.0 -0.5 -4.0 21.2 8.9

Distribution cost -2.7 -2.0 -1.3 -2.2 -2.0 -2.1 154.6 1.4 -28.0 8.3 13.5 25.1

Administrative expenses -1.0 -1.2 -1.1 -1.3 -1.1 -1.0 59.8 -27.3 8.8 13.0 29.5 20.6

Other operating income 0.9 0.7 1.3 0.9 1.0 1.2 159.9 -66.0 75.1 -12.9 0.9 233.4

Other operating expenses -0.3 -0.1 -0.3 -0.4 -0.4 -0.7 526.5 -79.9 13.3 -19.8 -21.7 53.9

Profit from Operations 4.7 4.4 6.0 6.5 6.9 6.9 96.8 -51.9 17.1 -10.5 23.1 12.9

Finance cost -0.5 -1.8 -1.2 -1.6 -0.9 -0.5 -55.3 -0.1 -6.4 77.7 122.8 238.7

Profit Before Tax 4.2 2.6 4.8 4.8 6.0 6.4 205.4 -64.9 25.0 -23.3 15.6 7.5

Taxation -1.4 -0.9 -1.4 -1.5 -2.1 -2.2 184.4 -57.4 20.5 -32.5 20.0 3.6

Profit After Tax 2.8 1.6 3.4 3.3 3.9 4.2 217.3 -68.1 27.0 -18.2 13.3 9.6

CASH FLOW STATEMENT

Cash flows from operating activities 175.9 162.8 -202.7 749.6 -72.5 123.6 721.1 -74.4 -52.7 227 -63.5 169.9

Cash flows from investing activities -72.7 447.7 137.7 -388.9 261.6 -63.2 -223.4 -203.5 -38.1 -52.9 157.5 -51.6

Cash flows from financing activities -3.2 -510.5 165.0 -260.7 -89.1 39.8 -95.3 -1.5 10.7 -192.6 39.7 109.7

Increase / (decrease)
in cash & cash equivalent 100.0 100.0 100.0 100.0 100.0 100.0 660.1 -131.8 -274.9 -131.7 -162.2 -251.8

25