AMALGAMATION OF SUZUKI MOTORCYCLES OF PAKISTAN (SMOP) WITH PSMC: Part 5



PAK SUZUKI MOTOR LIMITED-KY FINANCIAL DATA
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Income Statement (Rs'000)             FY'02             FY'03            FY'04               FY'05              FY'06
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Total Revenue                                 10,994,067   18,484,220   24,461,966     35,374,556     47,187,945
Cost of Goods Sold                         9,614,256     15,840,739   22,045,303     31,801,600     41,627,212
Selling and Distribution Expens      195,397        229,763        267,877          435,452          868,163
Operating Profit (EBIT)                     1,184,414     2,413,718     2,148,786       3,137,504       4,692,570
Financial Charges                            19,633          37,333          40,060            116,545          220,510
Net Income Before Taxes                1,316,658      2,381,603     2,139,816       3,519,541       5,520,549
Net Income After Taxes                  850,097         1,570,191     1,403,572       2,236,880       7,309,124
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Balance Sheet (Rs'000)                FY'02        FY'03                FY'04              FY'05             FY'06
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Stores & Spares                        16,934         23,677            40,661            54,139           66,730
Stock in Trade                          1,919,121    2,258,413       3,765,277      4,968,054       9,232,672
Cash & Bank Balances              5,094,118     5,732,752      6,693,996       9,647,023      8,043,617
Total Current Assets                7,183,211     8,541,540      11,033,551     15,127,089    18,096,001
Total Non Current Assets        8,068,447     9,530,550      13,287,277     18,747,841     22,050,385
Total Assets                            885,236        989,010          2,253,726      3,620,752       3,954,384
Total Current Liabilities           5,511,463     5,603,769      7,972,559       10,770,697     11,062,352
Total Non Current Liabilities             0            0            0      151,000        69,000
Total Liabilities                 5,511,463    5,603,769    7,972,559   10,921,697   11,131,352
Paid Up Capital                     491,312      491,312      491,312      540,444      540,444
Total Equity                      2,647,984    4,070,781    5,475,718    7,826,144   10,919,033
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LIQUIDITY RATIO                       FY'02        FY'03        FY'04        FY'05        FY'06
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Current Ratio                          1.30         1.52         1.38         1.40         1.64
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ASSET MANAGEMENT                      FY'02        FY'03        FY'04        FY'05        FY'06
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Inventory Turnover (Days)             62.84        43.99        55.41        50.56        70.44
Day Sales Outstanding (Days)           0.44         1.44         2.07         1.18         0.96
Operating Cycle (Days)                63.28        45.43        57.48        51.74        71.40
Total Asset turnover                   1.36         1.94         1.84         1.89         2.14
Sales/Equity                           4.15         4.54         4.47         4.52         4.32
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DEBT MANAGEMENT                       FY'02        FY'03        FY'04        FY'05        FY'06
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Debt to Asset (%)                     68.31        58.80        60.00        58.26        50.48
Debt/Equity (Times)                    2.08         1.38         1.46         1.40         1.02
Times Interest Earned (Times)         60.33        64.65        53.64        26.92        21.28
Long Term Debt to Equity (%)           0.00         0.00         0.00         1.93         0.63
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PROFITABILITY (%)                     FY'02        FY'03        FY'04        FY'05        FY'06
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Gross Profit Margin                   12.55        14.30         9.88        10.10        11.78
Net Profit Margin                      7.73         8.49         5.74         6.32        15.49
Return on Asset                       16.56        25.38        16.41        19.39        26.04
Return on Common Equity               10.54        16.48        10.56        11.93        33.15
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PER SHARE                             FY'02        FY'03        FY'04        FY'05        FY'06
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Earning per share                     17.30        31.96        28.57        41.39        61.99
Price earning ratio                    1.79         3.27         4.50         3.50         5.35
Dividend per share                     3.00         3.00         1.00         5.00         6.00
Book value                            53.90        82.86       111.45       144.81       202.04
 
 
COURTESY: Economics and Finance Department, Institute of Business Administration, Karachi.