This document provides an overview of Engro Foods Limited including its vision, products, market share, investments, key financial metrics, and trends over multiple years. It includes information on Engro Foods' market reach and products, financial ratios, income statements, balance sheets, and year-over-year comparisons. The key details are that Engro Foods has over 50% market share in UHT milk, ranks 2nd in ice cream, and provides livelihood to 350,000 farmers across Pakistan.

3.  Introduction
 Vision & Mission
 Facts & Figure
 Ratio Analysis
 Industry Average
 Trend Analysis
 Vertical Analysis
 Horizontal Analysis
 Conclusion

4.  Engro Foods Limited was officially launched as a fully owned
subsidiary of Engro Corporation in 2004. .
 Top quality brands like Olpers, Olpers Lite, Tarang, Omore and
Olpers Cream have been successfully launched under the helm of
Company’s dairy products.
 Engro Foods has invested heavily in milk processing and milk
collection infrastructure.

5.  Engro Foods will continue to make investments aimed
at impacting lives and delighting consumers each day,
every day, in a multitude ways.
 To create wealth by building new businesses based on
company and country strengths in Petrochemicals,
Information Technology, Infrastructure and other
Agricultural sectors.

6.  12 Million Consumers nationwide use Engro’s products each day.
 More than 1600 milk collection points spread throughout the country.
 Ranked 2nd in ice-cream business.
 Holds more than 50% market share in UHT milk business.
 Providing livelihood to 350,000 farmers across Pakistan.
 2 state of the art processing plant and a production farm.
 Growing Market Share covers more than 310 cities in Pakistan.
 FT/IFC Transformational Business Award 2014 for achievement in
inclusive Business.

7. 2014 2013 2012 2011 2010
Current Ratio 1.27 1.72 2.14 1.83 1.48
Quick Ratio 0.67 0.90 1.25 0.91 0.49
Debt To Equity 1.22 1.24 1.21 1.30 1.43
Debt Ratio 0.55 0.55 0.55 0.57 0.59
Equity Ratio 0.45 0.45 0.45 0.43 0.41
Inventory Turnover 10.30 9.00 9.70 9.80 10.20
Inventory Turnover In
Days
35.44 40.56 37.63 37.24 35.78
Receivable Turnover 344.90 250.40 340.10 429.60 547.10
Average Collection Period 1.06 1.46 1.07 0.85 0.67
Operating Cycle In Days 36.50 42.01 38.70 38.09 36.45
Total Assets Turnover 1.73 1.64 1.81 1.79 1.68
Gross Profit Ratio 18.83 21.49 25.69 22.20 20.97
Net Profit Ratio = 2.07 0.56 6.46 2.98 0.84
Return on Assets 3.57 0.91 13.37 6.12 1.41
Return on Equity 7.68 1.97 25.81 12.31 3.43
Earning Per Share 1.16 0.28 3.41 1.19 0.25
Book Value Per share 15.10 13.98 13.20 9.63 7.32
Price-Earning Ratio 93.57 379.37 28.79 19.07 -

9. 0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
120.00%
140.00%
160.00%
2014 2013 2012 2011 2010 2009
Net sales Cost of sales Gross profit Profit for the year
Income Statement

10. 0.00%
100.00%
200.00%
300.00%
400.00%
500.00%
600.00%
Non-Current
Assets
Current Assets TotalAssets Total Equity Total Non-Current
Liabilities
Current Liabilities Total Equity &
Liabilities
Balance Sheet
2014 2013 2012 2011 2010 2009

11. 2014 2013 2012 2011 2010
Sales
43,027,377
100%
37,890,688
100%
40,168,919
100%
29,859,226
100%
20,944,943
100%
Cost of sales
(34,926,132)
-81%
(29,747,587)
-79%
(29,848,301)
-74%
(23,230,445)
-78%
(16,552,117)
-79%
Gross profit
8,101,245
19%
8,143,101
21%
10,320,618
26%
6,628,781
22%
4,392,826
21%
Distribution and marketing
expenses (4,692,502)
-11%
(5,063,279)
-13%
(4,654,275)
-12%
(3,716,489)
-12%
(2,913,448)
-14%
Administrative expenses
(1,282,240)
-3%
(1,041,254)
-3%
(795,690)
-2%
(504,722)
-2%
(473,198)
-2%
Other operating expenses
(103,770)
0%
(188,729)
0%
(429,763)
-1%
(208,902)
-1%
(131,460)
-1%
Other oprating income
304,854
1%
324,301
1%
382,402
1%
213,133
1%
54,942
0%
Operating profit
2,327,587
5%
2,174,140
6%
4,823,292
12%
2,411,801
8%
929,662
4%
Other expenses
(596,328)
-1%
(881,456)
-2% - - - - - -
Finance costs
(1,236,904)
-3%
(784,904)
-2%
(902,503)
-2%
1,049,141
4%
(659,562)
-3%
Profit before taxation
494,355
1%
507,780
1%
3,920,789
10%
1,362,660
5%
270,100
1%
Taxation
394,476
1%
(296,820)
-1%
(1,325,616)
-3%
(471,687)
-2%
(94,478)
0%
Profit for the year
888,831
2%
210,960
1%
2,595,173
6%
890,973
3%
175,622
1%
Income Statement

12. Balance Sheet
2014 2013 2012 2011 2010
Assets
Property, plant and equipment 58.45% 60.32% 49.65% 57.75% 57.37%
Long term Investment - - - - 7.70%
Biological assets 3.34% 2.98% 3.01% 2.98% 3.44%
Intangible assets 0.44% 0.51% 0.47% 0.80% 1.14%
Long term advances and deposits 0.42% 0.39% 0.37% 0.15% 0.19%
Deferred employee share option
compensation expense
0.44% 0.70% - - -
Investment in subsidiary 1.78% - - -
Non Current Assets 63.09% 66.68% 57.39% 61.69% 70.00%
Stores, spares and loose tools 3.07% 3.08% 2.75% 3.43% 3.55%
Stock-in-trade 14.39% 12.82% 15.74% 15.84% 16.77%
Trade debts 0.37% 0.64% 0.67% 0.52% 0.42%
Advances, deposits and prepayments 0.44% 0.75% 1.18% 1.60% 1.96%
Other receivables 11.15% 9.79% 6.49% 6.97% 5.78%
Deferred employee share option
compensation expense
0.35% 0.57% - - -
Taxes recoverable 6.37% 2.65% 1.56% 0.07% 0.08%
Short term investments - 0.71% 12.20% 7.77% -
Cash and bank balances 0.77% 2.32% 1.90% 2.11% 1.45%
Current Assets 36.91% 33.32% 42.61% 38.31% 30.00%
Total Assets 100% 100% 100% 100% 100%

13. Balance Sheet
2014 2013 2012 2011 2010
Share capital 29.83% 31.88% 34.30% 45.16% 56.18%
Advance agianst issue of share capital - - 0.01% - -
Share premium 3.37% 3.60% 3.65% 4.34% -
Employee share option compensation
reserve
1.56% 1.69% - - -
Hedging reserve -0.11% -0.04% 0.08% -0.11% 0.00%
Remeasurement of post employment
benefits - Actuarial loss
-0.14% -0.14% -0.10% -0.11% -
Unappropriated profit 10.54% 7.57% 7.25% -5.92% -15.06%
Total Equity 45.05% 44.56% 45.18% 43.36% 41.13%
Long term finances 21.31% 29.64% 27.13% 33.70% 37.12%
Obligations under finance lease - - - 0.02% 0.04%
Deferred taxation 4.61% 6.40% 7.44% 1.85% 1.45%
Deferred liabilites- pension scheme - - - 0.01% 0.03%
Deferred Income 0.01% 0.04% 0.08% - -
Total Non-Current Liabilities 25.94% 36.08% 34.65% 35.57% 38.64%
Current Liabilities
Current portion of long term finances 6.25% 4.29% s 2.79% 1.61%
Trade and other payables 12.54% 14.01% 10.78% 14.24% 16.38%
Derivative financial instruments 0.16% 0.06% - 0.17% -
Accrued interest / mark-up on 0.00% 0.00% 0.00% 0.00%
* long term finances 0.75% 0.95% 1.36% 2.21% 2.21%
*short term finances 0.24% 0.04% 0.03% 0.12% 0.02%
Short term finances 9.07% - 0.38% 1.52% -
Total Current Liabilities 29.01% 19.36% 20.16% 21.06% 20.24%
Contingencies and Commitments
Total Equity & Liabilities 100% 100% 100% 100% 100%

14. 2014 Vs
2013
2013 Vs
2012
2012 Vs
2011
2011 Vs
2010
2010 Vs
2009
Net sales 13.56% -5.67% 34.53% 42.56% -30.58%
Cost of sales 17.41% -0.34% 28.49% 40.35% -28.78%
Gross profit -0.51% -21.10% 55.69% 50.90% -36.62%
Distribution and marketing expenses -7.32% 7.52% 26.71% 27.56% 49.78%
Administrative expenses 23.14% 40.58% 46.75% 6.66%
Other operating expenses -45.02% -61.70% 135.88% 58.91% -69.00%
Other income -6.00% -15.19% 79.42% 292.88% -37.26%
Operating profit 7.06% -54.92% 14.52% 353.05%
Other expenses -32.35%
Finance costs 57.59% -13.03% -13.98% 59.07% -50.06%
Profit before taxation -2.64% -87.05% 187.73% 404.50% -94.82%
Taxation -232.90% -77.61% 181.04% 399.26% -92.49%
Profit for the year 321.33% -91.87% 191.27% 407.32% -95.56%
Income Statement

15. Balance Sheet
2014 VS 2013 2013 Vs 2012 2012 Vs 2011
2011 Vs
2010
2010 Vs
2009
Assets
Non-Current Assets
Property, plant and equipment 3.56% 32.37% 13.96% 34.51% -92.59%
Biological assets 19.85% 7.18% 34.55% 16.00%
Intangible assets -8.65% 17.45% -21.71% -6.20% 16.08%
Long term advances and deposits 17.23% 13.77% 238.11% 4.70% -92.97%
Deferred employee share option compensation
expense
-33.33%
-100.00%
Investment in subsidiary -100.00%
1.13% 26.49% 23.43% 17.75% -89.49%
Current Assets
Stores, spares and loose tools 6.55% 9.45% 18.19% 29.42% -54.03%
Stock-in-trade 19.92% -11.76% 32.48% 26.26% 394.36%
Trade debts -37.51% 3.02% 71.11% 67.93% -97.94%
Advances, deposits and prepayments -37.32% -30.83% -1.62% 8.96% -83.38%
Other receivables 21.72% 63.47% 24.14% 60.96% 161.41%
Deferred employee share option compensation
expense
-33.58%
-100.00%
Taxes recoverable 157.16% 90.19% 23095.70% -84.68% -98.24%
Short term investments -100.00% -93.72% 109.18% -100.00%
Cash and bank balances -64.67% 32.05% 20.32% 94.65% -95.44%
Total Assets 6.44% 8.82% 33.35% 33.54% -86.70%

16. Balance Sheet
2014 Vs 2013
2013 Vs
2012 2012 Vs 20112011 Vs 2010
2010 Vs
2009
Equity
Share capital 1051.11% -91.26% 0.51% 8.25% 134.94%
Share premium 0.00% 6.80% 12.20% -100.00%
Employee share option compensation
reserve
-1.82% 0.00% -100.00%
Hedging reserve 189.49% -157.16% -192.20% -5591.84% -100.05%
Remeasurement of post employment
benefits - Actuarial loss
2.51% 0.00%
Unappropriated profit / loss 48.81% 13.10% -263.48% -152.50% -79.72%
8.05% 6.47% 39.07% 41.22% -82.26%
Non-Current Liabilities
Long term finances -23.15% 18.33% 7.36% 21.30%
Deferred liabilities -100.00% -45.98% -99.65%
Derivative financial instruments -100.00%
Deferred taxation -22.93% -6.89% 436.38% 70.25%
Deferred income -73.26% -45.61%
-23.17% 12.76% 29.92% 23.00%
Current Liabilities
Current portion of long term finances 55.58% -38.78% 262.54% 132.50% -75.31%
Trade and other payables -4.35% 42.84% 0.65% 14.85% -35.44%
Derivative financial instruments 185.16% 0.00% -100.00% -100.00%
Accrued interest / mark-up on
long term finances -15.39% -24.14% -17.89% 33.84%
short term finance 491.00% 56.98% -67.45% 823.70% -98.88%
Short term finances -100.00% -66.15%
60.17% 4.82% 27.59% 38.05% -60.57%
Contingencies and Commitments
Total Equity & Liabilities 6.88% 8.37% 33.35% 33.54% -86.70%