FINANCIAL STATEMENT ANALYSIS
OF
ATTOCK PETROLEUM COMPANY LIMITED

1
ACKNOWLEDGEMENT

Finally by the grace of all mighty ALLAH we did manage to finish our final project.
We have studied “Anal...
ATTOCK PETROLEUM COMPANY LIMITED
ABOUT APL:
Attock Petroleum Limited (APL) is an associate company of the Attock Oil Group...
Limited (PCIGL) and Attock Group of Companies.
Pharaon Group is engaged internationally in diversified entrepreneurial act...
commitment and cooperation. At APL we foster an environment of solid teamwork
and professionalism to ensure that our emplo...
Earnings per share

59.61

61.58

52.00

7,000,000
6,000,000

4,120,315

5,646,740

4,587,853

4,714,218

4,256,511

1,000...
28,062,795
Total Assets

22,247,396 19,429,233

30,531,14124,480,351 21,442,652

EQUITIES:
Share Capital And Reserves
Auth...
2012

2011

1.55

1.35

1.63

current ratio

1.76

1.35

1.58

2
1.8
1.6
1.4
1.2
1
0.8
0.6
0.4
0.2
0

quick ratio

2010

I...
that company is not manage its inventory due to overstocking turnover rate
continuously decreasing.

Total assets turnover...
10
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Transcript of "Attock petroleum limited"

  1. 1. FINANCIAL STATEMENT ANALYSIS OF ATTOCK PETROLEUM COMPANY LIMITED 1
  2. 2. ACKNOWLEDGEMENT Finally by the grace of all mighty ALLAH we did manage to finish our final project. We have studied “Analysis of Financial Statement”. It was a healthy learning experience and we are very thankful to our project supervisor Mrs. MalikaRemoo for his sincere guidence throughout the project. 2
  3. 3. ATTOCK PETROLEUM COMPANY LIMITED ABOUT APL: Attock Petroleum Limited (APL) is an associate company of the Attock Oil Group of Companies, which is the only fully vertically integrated Group in the Oil & Gas sector of Pakistan involved in Exploration & Production, refining & Marketing APL’s corporate head office is registered in Islamabad. Attock Petroleum Limited (APL) is the 4th Oil Marketing Company in Pakistan to be granted a marketing license in February1998. Though a new entrant in the field of Oil marketing, APL has managed to establish its presence and reputation as a progressive & dynamic organization focusing on providing quality and environment friendly petroleum products and services in Pakistan and abroad. Its steady and substantially growing market share and customer confidence, which it enjoys, are manifestations of APL’s successful policies. APL is part of the first fully integrated Oil Company of the sub-continent; APL’s sponsor includes Pharaon Commercial Investment Group 3
  4. 4. Limited (PCIGL) and Attock Group of Companies. Pharaon Group is engaged internationally in diversified entrepreneurial activities, including Hotels, Oil Exploration, Production and Refining, manufacturing of petroleum products, Chemicals manufacturing and Trading of Cement, Real Estate etc. The Attock Group of Companies consist of the Attock Oil Company (AOC), Pakistan Oilfields Limited (POL), Attock Refinery Limited (ARL), Attock Petroleum Limited (APL), Attock information Technology Services (pvt) Limited (AITSL), Attock Cement of Pakistan Limited (ACPL) and more. AOC was incorporated with limited liability in England on December 01-1913. The company is principally engaged in exploration, drilling and production of petroleum and related activities in Pakistan. AOC is the pioneer in the Oil sector in Pakistan. Its first Oil discovery in Pakistan was made in khaur district Attock in 1915. The refining operations were started in 1922 at Morgah near Rawalpindi. VISION: To become a world class, professionally managed, fully integrated, customer focused, Oil marketing Company, Offering value added quality and environment friendly products and services to its customers in Pakistan and beyond. MISSION: To continuously provide quality and environment friendly petroleum products and related services to industrial, commercial and retail consumers, and exceeding their expectations through reliability, economy and quality of products and services. We are committed to benefiting the community and ensuring the creation of a safe, responsible and innovative environment geared to client satisfaction, end user gratification, employee’s motivation and shareholder’s value. Core Values 1) Ethical Principles and Moral Values: We promote a commitment to the highest moral values and ethical principles, demanding both personal and professional dedication towards the realization of these values and principles. 2) Commitment and Cooperation Two core fundamentals for the success of any business are complete employee 4
  5. 5. commitment and cooperation. At APL we foster an environment of solid teamwork and professionalism to ensure that our employees engage in both personal and professional development. 3) Environment Consciousness We believe that it is our responsibility to safeguard our natural resources for future generations and actively engage in environment friendly practices, policies and management techniques. 4) Corporate Social Citizenship We strongly believe in the promotion of societal well-being and awareness within ones community, actively engaging in activities and initiatives to meet this objective. 5) Maximum Stakeholder Return Through our streamlined business processes and commitment to total quality management we seek to ensure maximum company performance and rewards for shareholders and stakeholders alike. Awards and Achievements: Best Corporate Report Award-2009 2nd Position in Fuel and Energy Sector. Top Companies Award- 2009 Amongst Top Twenty Five Companies. COMPARATIVE INCOME STATEMENT (Rupees in thousand) Note 2012 2011 2010 Sales 20176,812,437 127,036,956 94,897,866 Sales tax (23,969,000) (17,036,956) (12,105,948) Net Sales 152,843,437 109,394,725 82,791,918 Cost of Production 21 (148,255,584) (104,680,507) (79,032,034) Gross profit 4,587,853 4,714,2183,759,884 Operating income 22 2,659,322 1,978,931 1,308,904 Operating expenses 23 (889,356) (611,315) (480,860) Operating profit 6,357,819 6,081,8344,587,928 Finance cost 24 (1,211,047) (682,666) (319,865) Income on bank deposits & short term investment 25 889,427 962,838 980,736 Share of profit associated co. 26,506 93,211 42,337 Other charges 26 (415,965) (437,706) (444,827) Profit before tax 5,646,740 6,017,511 4,846,309 Provision for taxation 27 (1,526,425) (1,761,000) (1,252,000) Profit after tax 4,120,3154,256,5113,594,309 5
  6. 6. Earnings per share 59.61 61.58 52.00 7,000,000 6,000,000 4,120,315 5,646,740 4,587,853 4,714,218 4,256,511 1,000,000 3,594,309 2,000,000 3,759,884 3,000,000 4,846,309 4,000,000 6,017,511 5,000,000 gross profit profit before tax profit after tax 0 2010 2011 2012 Net sales revenue in 2012 increased by 40% from 2011 due to increase in average prices of products and volume sold. Profitability decreased by 3% as compared to 2011 due to price decrease in last quarter, stiff competition and ban on export of petroleum products to Afghanistan during 2011-12. BALANCE SHEET (Rupees in thousand) ASSETS: Non-Current Assets: Property, plant and equipment Long term investment in associated companies. long term prepayments Current Assets: Stock and spares Stock in trade Trade debts Advances, deposits, prepay-ments and other receivables. Short term investments Cash and bank balances 2012 1,601,576 856,037 10,733 2011 1,374,767 2010 1,217,217 842,957 765,739 15,231 30,463 15,620 9,729 6,630 4,165,895 5,246,705 993,282 15,351,3109,297,292 7,602,060 843,0721,459,703 719,904 873,168 1,015,930831,754 6,813,7305,218,0379,275,603 6
  7. 7. 28,062,795 Total Assets 22,247,396 19,429,233 30,531,14124,480,351 21,442,652 EQUITIES: Share Capital And Reserves Authorized capital 1,500,000 1,500,000 1,500,000 Paid up capital 691,200 691,200 576,000 Special Reserves 54,864 27,407 17,043 Revenue Reserves 11,637,25910,827,601 8,643,534 Unappropriated profit 12,383,323 11,546,208 9,236,577 Non-Current Liabilities: Long term deposits Deferred income tax liability 254,729 167,000 412,729 Current Liabilities: Trade and other payables Provision for income tax Contingencies and commitments Total Equities 209,316 111,000 320,316 178,908 110,000 288,908 17,666,747 12,073,287 11,554,057 68,342 540,540 363,110 17,735,089 12,613,827 11,917,167 30,531,141 24,480,35121,442,652 LIQUIDITY RATIOS 1) Current ratio: Current ratio= current assets Current liabilities Year Current ratio 2012 1.58 2011 1.76 2010 1.63 2011 1.35 2010 1.55 2) Quick Ratio: Quick ratio= current assets- Inventory current liabilities year Quick ratio 2012 1.35 7
  8. 8. 2012 2011 1.55 1.35 1.63 current ratio 1.76 1.35 1.58 2 1.8 1.6 1.4 1.2 1 0.8 0.6 0.4 0.2 0 quick ratio 2010 In 2012, Company’s current and quick ratio are low compared to last year due to increase in current assets and current liabilities resulting from increasing circular debt issue but still it shows Company’s strong ability to meet its short term obligations. ASSETS MANAGEMENT RATIO 1) INVENTORY TURNOVER: Inventory Turnover = SALES INVENTORY YEAR INVENTORY TURNOVER 160 140 120 100 80 60 40 20 0 2012 31.50 2011 33.55 Inventory Turnover 139.29 33.55 2010 2010 139.29 31.5 2011 2012 COMMENTS: Company inventory turnover ratio in 2010 was 139.29 which decreased in 2011 by huge margin. In 2012, company inventory turnover continue decreasing which shows 8
  9. 9. that company is not manage its inventory due to overstocking turnover rate continuously decreasing. Total assets turnover: YEAR Total assets turnover 2012 5.56 2011 4.76 2010 4.17 6 5 2 total assets turnover 4.17 4.76 3 5.56 4 1 0 2010 2011 2012 Fixed Assets Turnover: YEAR Fixed Assets Turnover 2012 102.71 2011 84.41 2010 70.52 Fixed Assets Turnover 120 100 80 102.71 84.41 40 70.52 60 20 0 2010 2011 2012 9 Fixed Assets Turnover
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