The Karachi Stock Exchange (Guarantee) Limited’s financial results

Karachi:

JDW Sugar Mills Limited

Projected Profit and Loss Account

From 2011 to 2013

Audited

2010

Projected

2011

Projected

2012

Projected

2013

Sales – net20,392,207,79324,437,877,69630,470,321,27232,298,155,422
Cost of sales16,744,461,27919,379,793,29623,522,838,99525,110,150,327
—————————–——————————
Gross Profit (GP)3,647,746,5145,058,084,4006,947,482,2777,188,005,095
GP %17.8920.7022.8022.26
—————————–——————————
Administrative expenses344,195,411375,359,174439,655,782486,043,839
Distribution and marketing expenses11,956,05713,810,68318,915,47421,466,804
Other operating expenses212,053,409255,725,237401,085,334384,555,962
—————————–——————————
568,204,877644,895,094859,656,591892,066,605
—————————–——————————
3,079,541,6374,413,189,3066,087,825,6866,295,938,490
Other operating Income47,731,45722,331,83224,234,00026,352,889
—————————–——————————
Operating Profit3,127,273,0944,435,521,1386,112,059,6866,322,291,379
Finance cost1,168,439,5031,306,212,6511,651,746,3481,489,410,299
Share of loss of associated companies6,957,792---
—————————–——————————
Profit before taxation1,951,875,7993,129,308,4864,460,313,3384,832,881,080
Taxation711,473,3991,202,618,5841,234,514,1891,637,702,444
—————————–——————————
Profit after taxation1,240,402,4001,926,689,9033,225,799,1493,195,178,636
—————————–——————————
Basic and diluted earnings per share28.2035.7559.8659.29

JDW Sugar Mills Limited Projected Cash Flow from 2011 to 2013

Audited

2010

Projected

2011

Projected

2012

Projected

2013

Cash Flow from Operating Activities
Profit for the year1,951,875,7993,129,308,4864,460,313,3384,832,881,080
Adjustment for non-cash Items Depreciation443,216,349483,904,462823,787,406803,659,683
Profit on disposal of assets(4,350,983)---
Provision for staff retirement benefits24,596,07728,285,48737,628,31143,017,557
Finance cost1,168,439,5031,306,212,6511,651,746,3481,488,410,299
provision for WPPF105,212,720168,061,680239,544,218260,928,990
Provision for WWF39,980,83463,863,43891,026,80399,151,876
Amortization of pre operating expenses--51,094,207-
Assets written off20,213,356---
Provision for obsolescence44,082,604---
Provision for doubtful debts24,425,315---
Share of loss of associated companies6,957,792---
Loss on sale of Investment225,000---
Amortization of deferred income(3,945,104)---
————-————-————-————-
1,869,053,4632,050,327,7202,894,827,2922,696,165,405
(Increase) / decrease in current assets Store, spares and loose tools(10,936,461)(31,034,127)(26,468,086)(28,524,490)
Adv, deposits, and prepayments and other receivables(560,996,835)508,428,881(1,449,527)90,205,177
Stock-in-trade1,229,614,895206,682,011--
Trade debts36,445,100142,956--
————-————-————-————-
694,126,699684,219,721(27,917,613)61,580,687
(Decrease) / Increase in current liabilities Creditors, accrued and other liabilities(195,050,744)3,692,05913,963,509(59,493,797)
————-————-————-————-
Net cash from operating activities4,320,005,2175,867,547,9877,341,186,5267,531,233,375
Finance cost paid(1,159,106,529)(1,111,197,631)(1,569,950,081)(1,488,187,789)
Staff retirement benefits paid(22,277,994)(14,546,668)(16,937,011)(20,433,695)
WPPF paid(55,453,880)(109,212,720)(172,061,680)(244,544,218)
WWF paid(24,037,078)(55,366,025)(63,863,438)(91,026,803)
Taxes paid(97,147,552)(1,265,258,849)(581,881,321)(1,579,653,409)
————-————-————-————-
(1,358,023,033)(2,555,581,893)(2,404,693,533)(8,423,845,914)
————-————-————-————-
2,961,982,1843,311,966,0944,936,492,9934,107,387,461
Cash flow from investment activities
Additions to fixed assets(185,510,557)(489,337,430)(4,167,724,710)(571,000,001)
Additions to CWIP-(3,253,588,918)3,383,588,918-
Investment property(37,756,392)---
Procedure from sale of Investments150,000---
Procedure from sale of disposal of Fixed assets9,287,993---
Long term Investment(410,000,000)(205,000,000)(650,000,000)(450,000,000)
Short term Investment----
Pre-operating Expenses-(51,094,207)--
Long term deposit(35,531,373)25,981,63312,500,00045,662,015
————-————-————-————-
Net cash flow from investment activities(659,360,329)(3,973,038,922)(1,421,635,792)(975,337,986)
Cash flow from financing activities
Lease rentals(232,649,852)(346,361,751)(331,542,594)(286,614,328)
Long term loans:
PPTFC’s and PPSC’s(402,222,222)(548,888,889)(548,888,889)(548,888,889)
HBL Led Syndicated(102,000,000)(255,000,000)(255,000,000)(255,000,000)
Long term loan-IV-2,450,000,000-(490,000,000)
Short term borrowings(1,480,111,770)339,709,030(450,000,000)(712,500,000)
Net proceeds from issuance of right Shares92,909,300---
————-————-————-————-
Dividend(174,183,028)(342,922,839)--
————-————-————-————-
(2,298,257,572)1,296,535,551(1,585,431,483)(2,293,003,217)
—————————–——————————
Net increase in cash and cash equivalent4,364,283635,462,7231,929,425,718839,046,258
Cash and cash equivalent at the beginning of the year6,577,52110,941,804646,404,5262,575,830,244
—————————–——————————
Cash and cash equivalent at the end of the year10,941,804646,404,5272,575,830,2443,414,876,503

For more information, contact:
Karachi Stock Exchange
Tel: +9221 111-001122
Fax: +9221 3241 0825, +9221 3241 5136
Email: info@kse.com.pk
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