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This presentation is related with Oil and Gas industry. In Pakistan, OGDCL is regulatory authority for oil and gas distribution. In this presentation, complete financial analysis of OGDCL is done to ...

This presentation is related with Oil and Gas industry. In Pakistan, OGDCL is regulatory authority for oil and gas distribution. In this presentation, complete financial analysis of OGDCL is done to explain how big organizations works.
Useful for commerce, finance, accounting, business students.

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OGDCL Presentation OGDCL Presentation Presentation Transcript

  • Presented By: Humayun Khalid Qurashi Roll #. 04-Regular B.Com (Hons.) 5th Semester Prepared by Humayun Khalid
  • OGDCL Vision To be a leading multinational Exploration and Production Company. Prepared by Humayun Khalid
  • OGDCL Mission To become the leading provider of oil and gas to the country by increasing exploration and production both domestically and internationally, utilizing all options including strategic alliances. To continuously realign ourselves to meet the expectations of our stakeholders through best management practices, the use of latest technology, and innovation for sustainable growth, while being socially responsible. Prepared by Humayun Khalid
  • Company History  OGDCL was created under an Ordinance dated 20th September 1961.  Before 23 October 1997 OGDCL was know as OGDC. But on 23 October 1997 it was incorporated as a Public Limited Company.  From 23 October 1997 it is known as OGDCL (Oil and Gas Development Company Limited) Prepared by Humayun Khalid
  • Registered Head Office OGDCL HOUSE, Plot No.3, F-6 / G-6, Jinnah Avenue, Blue Area, Islamabad. Telephone = + 92-51-9209811-18 Fax = +92-51-9209792 Email: info@ogdcl.com, csec@ogdcl.com, Prepared by Humayun Khalid
  • Senior Management Mr. Kamran Lashari – Chairman Mr. Kamran Lashari is Secretary to the Ministry of Petroleum & Natural Resources, and Federal Government Departments and Ministries. Mr. Mohammad Naeem Malik - MD/CEO Mr. Mohammad Naeem Malik is a Chemical Engineer by profession with 30 years experience in the petroleum sector. He started his carrier with petro-chemical industry in the private sector and then joined Ministry of Petroleum & Natural Resources in 1981 where he has worked on various important assignments in the Government of Pakistan. Prepared by Humayun Khalid
  • OGDCL Facts & Figures  Established in 1961  Converted into Public Limited Company  October 1997  Company’s Monogram Prepared by Humayun Khalid
  • Major Oil & Gas Fields  Chanda  Tando Alam  Thora  Sono  Pasakhi  Lashari  Chak Nurang  Dakhni  Sadkal  Fimkasar  Rajian,  Nandpur Panjpir  Missa Kiswal  Uch  Pirkoh  Daru  Dhodak  Kunnar  Missan  Loti  Bobi  Mela  Kal  Qadirpur Prepared by Humayun Khalid
  • Major Oil & Gas Products  Products Crude Oil, Gas, LPG & Sulphur  Net Sales in Financial Year (2009 - 2010) Rs. 142.57 Billion  Profit After Tax (2009 - 2010) Rs. 59.18 Billion Prepared by Humayun Khalid
  • Analysis of Financial Statements Financial Year 2003 - 2010400,000350,000300,000250,000200,000150,000100,000 50,000 0 Prepared by Humayun Khalid
  • PROFITABILITY 60.00%100.00% 50.00%80.00% 40.00%60.00% 30.00%40.00% 20.00% 10.00%20.00% 0.00% 0.00% FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 Profit margin Gross Profit margin Return on Assets Return on Equity Prepared by Humayun Khalid
  • LIQUIDITY 14.00 Current Ratio Quick Ratio 12.00 10.00 8.00 6.00 4.00 2.00 0.00 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 Prepared by Humayun Khalid
  • ASSET MANAGEMENT300.00 1.20250.00 0.10200.00 0.80150.00 0.60100.00 0.40 50.00 0.20 0 0.00 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 Day sales outstanding Inventory Turnover Sales Equity Inventory turnover Prepared by Humayun Khalid
  • DEBT MANAGEMENT Debt to Assets % Debt / Equity % Long term Debt to Equity %50.00%45.00%40.00%35.00%30.00%25.00%20.00%15.00%10.005.00%0.00% FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 Prepared by Humayun Khalid
  • Time Interest Earned Time Interest Earned10000.008000.006000.004000.002000.00 0.00% FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 Prepared by Humayun Khalid
  • Market Value 7025.00 6020.00 5015.00 40 3010.00 205.00 100.00 0 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 Prepared by Humayun Khalid
  • Meta Analysis Profit and loss account Balance Sheet Ratio Analysis Index Analysis Profit and Loss Account Index analysis Balance Sheet Common Size Analysis Profit and Loss Account Common Size Analysis Balance Sheet Prepared by Humayun Khalid
  • 2003 2004 2005 2006 2007 2008 2009 2010Net Sales 45,008,279 51,293,653 73,710,101 96,755,382 100,261,191 125,445,674 130,829,579 142,571,863Other operating 61,919 32,620 ---- ---- ---- ---- ---- ----revenue 45,070,198 51,326,273 73,710,101 96,755,382 100,261,191 125,445,674 130,829,579 142,571,863Less:Operating 8,117,042 8,083,426 11,717,853 15,045,654 (18,497,388) (18,882,365) (22,673,893) (23,727,818)expenses 4,970,478 5,570,218 8,109,632 10,872,443 (10,877,443) (17,262,493) (15,155,667) (16,728,843) Royalty 635,524 548,919 760,092 942,163 (1,087,931) (1,472,615) (1,522,489) (1,492,267)Transportationcharges 1,359,576 2,041,252 Amortization ofexploration 2,671,260 3,680,707developmentexpenditureExploration and _____ ___ ____ ____ ___ __ ___ ______ __ _______ __ __________ __________ __________prospecting (15,082,620) (16,243,815) (23,258,837) (30,540,967) (30,462,762) (37,617,473) (39,352,049) (41,948,928) expenditure 29,987,578 35,082,458 50,451,264 66,214,415 69,798,429 87,828,201 91,477,530 100,622,935Less:Explorationexpend. write off ---- ---- ---- ---- ---- ----including 2,526,119 3,397,907exploratory dry 27,461,459 31,684,551 50,451,264 66,214,4155 69,798,429 87,828,201 91,477,530 100,622,935holesLess: General (994,730) (838,818) (823,305) (1,071,979) (8,691,756) (7,856,866) (8,792,542) (9,500,531)&admin.expenses (646,672) (38,468) (5,955) (9,973) (449,561) (531,799) (926,027) (1,273,312) Financialcharges (1,390,373) (1,606,071) (2,580,011) (3,469,017) (3,213,617) (4,387,411) (4,259,364) (4,660,671) Worker’s ProfitParticipation 57,503 64,118Fund (3,031,775) (2,483,357) (3,409,271) (4,550,969) (12,354,934) (12,776,076) 13,977,933 15,370,396Share of profit inassociate - net oftaxationOperating 24,429,684 29,201,194 47,041,993 61,663,446 57,443,495 75,052,125 77,557,100 85,252,539Profit 1,987,402 1,314,156 1,978,223 4,247,881 3,615,231 8,308,684 3,370,823 3,300,214Other incomeProfit Before 26,417,086 30,515,350 49,020,216 65,911,327 61,058,726 83,360,809 80,927,923 88,552,753taxation 5,744,000 8,100,889 16,052,316 19,943,604 15,428,762 33,747,216 (25,388,282) (29,375,628)Less: Provisionfor taxationPROFIT after 20,673,086 22,414,461 32,967,900 45,967,723 45,629,964 49,613,593 55,539,641 59,177,125taxation 31,761,423 21,087,495 ----- ----- ----- ---- ---- ----Un-appropriatedprofit brought 52,434,509 43,501,956by Humayun Khalid Prepared 32,967,900 45,967,723 45,629,964 49,613,593 55,539,641 59,177,125
  • 2003 2004 2005 2006 2007 2008 2009 2010Share capital – – 43,009,284 43,009,284 43,009,284 43,009,284 43,009,284 43,009,284Authorized share capital – – – – – – – –(2,500,000,000 shares of Rs 10 each) 25,000,000 – – – – – – –(5,000,000,000) (2003 : 2,500,000,000) ordinary – 50,000,000 – – – – – –Issued, subscribed and paid-up capital 10,752,321 43,009,284 – – – – – –Reserve for issue of bonus shares 32,256,963 – – – – – – –Pre-incorporation profit – – – – – – – –Contingency reserve 1,363,967 1,659,614 1,995,996 2,219,027 2,438,228 3,503,064 3,658,318 3,859,682Un-appropriated profit 21,087,495 26,002,595 38,204,702 49,541,966 55,169,140 63,902,995 79,503,794 110,523,520 65,460,746 70,671,493 83,209,982 94,770,277 100,616,652 110,415,343 126,171,396 157,392,486CONTINGENCY RESERVE FUND – – 1,420,245 – – – –LONG TERM LOANS/Unsecured 14,751 14,751 14,751 – – – –LONG TERM PROVISIONS 4,808,113 6,850,935 7,543,672 14,232,747 5,151,807 6,795,141 10,814,506 12,435,365DEFERRED LIABILITIES 8,183,119 8,714,332 10,292,045 – 12,447,048 13,660,376 19,718,996 24,198,957CURRENT LIABILITIES AND PROVISIONCurrent maturity of long term loansCreditors, accrued and other liabilities 13,518,483 – –Provision for taxation 3,551,948 4,298,623 – 7,174,483 11,122,665 17,215,555 18,747,328 28,624,204Proposed dividend – – – 3,716,958 – 4,223,048 2,540,170 6,216,639CONTINGENCIES AND COMMITMENTS 2,903,127 5,376,161 – – – – – –Total Equity and Liabilities 84,921,805 95,926,295 114,578,933 121,314,710 129,338,172 152,309,463 177,992,396 228,867,651FIXED CAPITAL EXPENDITUREProperty, plant and equipment 16,320,950 17,195,913 19,685,294 19,575,807 21,600,201 23,229,631 28,482,194 34,998,898Exploration and development expenditure 16,219,246 17,935,742 22,763,244 2,551,149 35,115,699 44,480,485 57,837,465 68,182,251Projects in progress 4,124,282 3,849,509 802,041 – – – –Stores held for capital expenditure 870,749 734,918 – 3,228,590 – – – – 37,535,227 39,716,082 43,250,579 44,457,959 56,715,900 67,710,116 86,319,659 103,181,149LONG TERM INVESTMENTS 491,500 491,500 2,437,121 2,729,807 2,945,938 2,860,132 2,903,133 3,231,435INVESTMENTS HELD TO MATURITY 541,948 636,227 – – – – – –LONG TERM PREPAYMENTS 34,029 2,055,224 41,839 58,021 39,821 108,937 85,357 118,937LONG TERM RECEIVABLES 2,279,147 – 1,738,256 1,391,552 1,117,755 1,806,620 1,849,707 1,902,330CURRENT ASSETSStores and stocks 6,057,651 8,085,974 7,610,557 12,895,355 13,272,083 16,766,877 17,572,652 14,699,362Trade debts–unsecured (considered good) 12,995,933 13,127,338 18,527,574 24,498,986 27,873,515 40,705,299 56,140,092 82,992,291Loans, advances, deposits, prepayments 5,543,945 6,506,521 2,511,806 34,096,160 22,652,868 14,044,934 9,147,978 14,898,327and other receivablesCash and bank balances 19,442,425 25,307,429 37,799,224 1,186,870 4,720,292 8,306,548 3,973,818 7,843,820 44,039,954 53,027,262 67,111,138 76,856,751 68,518,758 79,823,658 86,834,540 120,433,800Total Assets 84,921,805 95,926,295 114,578,933 121,314,710 129,338,172 152,309,463 177,992,396 228,867,651 Prepared by Humayun Khalid
  • Ratio Analysis UOM 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10Earnings per Share (EPS) Rupees 19.23 7.68 10.65 10.52 10.31 12.91 13.76Gross Profit Margin % - 71 72 69 69 70 71Net Profit Margin % 44 44 47 45 35 42 42EBITDA Rs in billion - 55.33 70.94 67.47 87.41 92.20 100.90EBITDA Margin % - 74 73 67 69 70 71Current Ratio Times 5.5 5.35 6.92 6.65 3.72 4.01 3.46Acid Test / Quick Ratio Times 4.7 4.76 5.89 5.44 2.94 3.25 3.03Debtor Turnover Ratio Times - 4.66 4.50 3.84 3.66 2.70 2.05Total Assets Turnover Ratio % - 66 77 76 87 79 70Return on Average Capital Employed % 33 38 48 43 41 47 42Return on Assets / Return on Investment (ROI) % - 29 36 34 31 34 29Break-up Value per Share Rupees 16.43 20.94 23.59 24.86 25.67 29.34 36.60Market Price per Share - As on June Rupees - 105.30 136.75 119.80 124.36 78.64 142.00 - High during the Year Rupees - 189.75 168.80 156.00 140.80 125.49 142.00 - Low during the Year Rupees - 58.40 98.55 113.20 104.90 40.56 80.71Price Earnings Ratio Times - 13.71 12.84 11.39 12.06 6.09 10.32Dividend per Share Rupees - 7.50 9.00 9.00 9.50 8.25 5.50Dividend Payout Ratio % 40 98 85 86 92 64 40Dividend Yield Ratio % - 7 7 8 8 10 4Dividend Cover Ratio Times - 1.02 1.18 1.17 1.09 1.57 2.50Contribution to National Exchequer Rs in billion - 61.46 79.66 78.31 99.75 86.45 80.24 Prepared by Humayun Khalid
  • Index Analysis Profit and Loss Account 2003-2010 30 2003 2004 2005 2006 2007 2008 2009 2010Net Sales 100% 113.96 163.77 214.97 222.76 278.73 290.67 316.76Other operating revenue 100% 52.81 ---- ---- ---- ---- ---- ---- 113.88 163.54 214.67 222.45 278.35 290.27 316.33Less:Operating expenses 100% 99.58 144.36 185.35 227.88 232.62 279.33 292.32 Royalty 100% 112.06 163.15 218.74 218.84 347.30 304.91 336.56Transportation charges 100% 86.37 119.60 148.24 171.18 231.71 239.56 234.80 Amortization of 100% 150.13 --- --- ----exploration developmentexpenditureExploration and 100% ----prospecting expenditureLess: Exploration expend.write off includingexploratory dry holes 100% 134.51 ---- ---- ---- ---- ---- ----Less: General &admin. 100% 84.32 82.76 107.76 873.78 789.83 883.91 995.08expenses Financial charges 100% 5.94 0.92 1.54 69.51 82.23 143.19 196.90 Worker’s Profit 100%Participation Fund 115.51 185.56 249.50 231.13 315.55 306.34 335.21Share of profit in 100% --- --- --- --- --- --- ---associate - net of taxationOperating Profit 100% 119.53 192.56 252.41 235.13 307.21 317.55 348.97Other income 100% 66.12 99.53 213.74 181.90 419.06 169.60 166.05Profit Before taxation 100% 115.51 185.56 249.50 231.13 315.55 306.34 335.21Less: Provision for 100% 141.03 279.46 347.20 268.60 587.52 441.99 511.41taxationPROFIT after taxation 100% 108.42 159.47 222.35 220.72 239.99 268.65 286.25Un-appropriated profit 100% 66.39 ----- ----- ----- ---- ---- ----brought forward Prepared by Humayun Khalid 100% 82.96 62.87 87.66 87.02 94.62 105.92 112.85
  • Index Analysis Balance Sheet 2003-2010 31 2003 2004 2005 2006 2007 2008 2009 2010Share capital – – – – – – – –Authorized share capital – – – – – – – –(2,500,000,000 shares of Rs 10 each) – – – – – – –(5,000,000,000) (2003 : 2,500,000,000) ordinary – – – – – – – –Issued, subscribed and paid-up capital 100% 4.00 – – – – – –Reserve for issue of bonus shares 100% – – – – – – –Pre-incorporation profit – – – – – – – –Contingency reserve 100% 121.67 146.33 162.68 178.76 256.82 268.21 282.97Un-appropriated profit 100% 123.30 181.17 234.93 261.62 303.03 377.01 524.11CONTINGENCY RESERVE FUND – – – – – – –LONG TERM LOANS/Unsecured 100% 100.00 100.00 100.00 – – – –LONG TERM PROVISIONS 100% 142.48 156.89 296.01 107.62 141.32 224.92 258.63DEFERRED LIABILITIES 100% 106.49 125.77 – 152.10 166.93 240.97 295.71CURRENT LIABILITIES AND PROVISIONCurrent maturity of long term loans – – – – – – –Creditors, accrued and other liabilities 100% 121.02 – 201.98 313.14 484.67 527.80 805.87Provision for taxation – – – – – – – –Proposed dividend 100% 185.18 – – –CONTINGENCIES AND COMMITMENTS –Total Equity and Liabilities 100% 112.95 134.92 142.85 152.30 179.35 209.59 269.50FIXED CAPITAL EXPENDITUREProperty, plant and equipment 100% 105.36 120.61 119.94 132.34 142.33 174.51 214.44Exploration and development expenditure 100% 110.58 140.34 15.72 216.50 274.24 356.59 420.37Projects in progress 100% 93.337 19.44 – – – –Stores held for capital expenditure 100% 84.400 – 370.78 – – _______– __ __– 100% 105.81 115.22 118.44 151.10 180.39 229.96 274.89LONG TERM INVESTMENTS 100% 100.00 495.85 555.40 599.37 581.91 590.66 657.46INVESTMENTS HELD TO MATURITY 100% 117.39 – – – – – –LONG TERM PREPAYMENTS 100% 603.625 122.95 170.50 117.02 320.12 250.83 349.51LONG TERM RECEIVABLES 100% – 76.26 61.05 49.04 79.26 81.15 83.46CURRENT ASSETSStores and stocks 100% 133.48 125.63 212.87 219.09 276.78 290.09 242.65Trade debts–unsecured (considered good) 100% 101.011 142.56 188.51 214.47 313.21 431.98 638.60Loans, advances, deposits, prepayments 100% 117.36 45.30 615.01 408.60 253.33 165.00 268.73and other receivablesCash and bank balances 100% 130.16 194.41 6.10 24.27 42.723 20.43 40.34 100% 120.40 152.38 165.02 155.58 181.25 197.172 273.46Total Assets 100% 112.95 134.92 142.85 152.30 179.35 209.59 269.50 Prepared by Humayun Khalid
  • Common Size Analysis (%) Profit and Loss Account 2003-2010 32 2003 2004 2005 2006 2007 2008 2009 2010Net Sales 100 100 100 100 100 100 100 100Other operating revenue 0.13 0.06 ---- ---- ---- ---- ---- ---- 100.13 100.06 100 100 100 100 100 100Less:Operating expenses 18.03 15.75 15.89 15.55 18.44 15.05 17.33 16.64 Royalty 11.04 10.85 11.00 11.23 10.84 13.76 11.58 11.73Transportation charges 1.41 1.07 1.03 0.97 1.08 1.17 1.16 1.04 Amortization ofexploration development 3.02 3.97expenditureExploration and 3.62 3.80prospecting expenditureLess: Exploration expend. 5.61 6.62 ---- ---- ---- ---- ---- ----write off includingexploratory dry holesLess: General &admin. 2.21 1.63 1.11 1.10 8.66 6.26 6.72 6.66expenses Financial charges 1.43 0.07 0.08 0.01 0.44 0.42 0.70 0.89 Worker’s ProfitParticipation Fund 3.08 3.13 3.50 3.58 3.20 3.49 3.25 3.26Share of profit inassociate - net of taxation 0.04 0.04Operating Profit 54.27 56.92 63.82 63.73 57.29 59.82 59.28 59.79Other income 4.41 2.56 2.68 4.39 3.60 6.62 2.57 2.31Profit Before taxation 58.69 59.49 66.50 68.12 60.89 66.45 61.85 62.10Less: Provision for 12.76 15.79 21.77 20.61 15.38 26.90 19.40 20.60taxationPROFIT after taxation 45.93 43.69 44.72 47.48 45.51 39.54 42.45 41.50Un-appropriated profit 70.56 41.11 ----- ----- ----- ---- ---- ----brought forward 116.49 Prepared by Humayun Khalid 84.80 44.72 47.48 45.51 39.54 42.45 41.50
  • Common Size Analysis (%) Balance sheet 2003-2010 33 2003 2004 2005 2006 2007 2008 2009 2010Share capital – – 37.53 35.45 33.25 28.23 24.16 18.79Authorized share capital – – – – – – –(2,500,000,000 shares of Rs 10 each) 29.43 – – – – – – –(5,000,000,000) (2003 : 2,500,000,000) ordinary – 52.12 – – – – – –Issued, subscribed and paid-up capital 12.66 44.83 – – – – – –Reserve for issue of bonus shares 37.98 – – – – – – –Contingency reserve 1.60 1.73 1.74 1.82 1.88 2.29 2.05 1.68Un-appropriated profit 24.83 27.10 33.34 40.83 42.65 41.95 44.66 48.29 77.08 73.67 72.62 78.11 77.79 72.49 70.88 68.77CONTINGENCY RESERVE FUND - – – – – – –LONG TERM LOANS/Unsecured 0.01 0.01 0.01 – – – –LONG TERM PROVISIONS 5.66 7.14 6.58 11.73 3.98 4.46 6.07 5.43DEFERRED LIABILITIES 9.63 9.08 8.98 – 7.62 8.96 11.07 10.57CURRENT LIABILITIES AND PROVISIONCurrent maturity of long term loansCreditors, accrued and other liabilities 4.18 4.48 11.79 – –Provision for taxation – – – 5.91 8.59 11.30 10.53 12.50Proposed dividend 3.41 5.60 – 3.06 – 2.77 1.42 2.71Total Equity and Liabilities 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00FIXED CAPITAL EXPENDITUREProperty, plant and equipment 19.21 17.92 17.18 16.13 16.70 15.25 16.00 15.29Exploration and development expenditure 19.09 18.69 19.86 2.10 27.15 29.20 32.49 29.79Projects in progress 4.85 4.01 0.69 – – – –Stores held for capital expenditure 1.02 0.76 – 2.66 – – – – 44.19 41.40 37.74 36.64 43.85 44.45 48.49 45.08LONG TERM INVESTMENTS 0.57 0.51 2.12 2.25 2.27 1.87 1.63 1.41INVESTMENTS HELD TO MATURITY 0.63 0.66 – – – – – –LONG TERM PREPAYMENTS 0.04 2.14 0.03 0.04 0.03 0.07 0.04 0.05LONG TERM RECEIVABLES 2.68 – 1.51 1.47 0.86 1.18 1.03 0.08CURRENT ASSETSStores and stocks 7.13 8.42 6.64 10.62 10.26 11.00 9.87 6.42Trade debts–unsecured (considered good) 15.30 13.68 16.17 20.19 21.55 26.72 31.54 36.26Loans, advances, deposits, prepayments 6.52 6.78 2.19 28.10 17.51 9.22 5.13 6.50and other receivables Prepared by Humayun KhalidCash and bank balances 22.89 26.38 32.98 0.97 3.64 9.22 2.23 3.42
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