53 in 2015 A slight decrease in total assets can be contributed to the selloff

53 in 2015 a slight decrease in total assets can be

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and long term advances by 30.53% in 2015. A slight decrease in total assets can be contributed to the selloff of non-current assets and a slight increase in loans and advances The decrease in long term loans 15.85%,differed liability 42.25% and short term borrowings by 88.47% reflects the decreased borrowing of the company and is less inclined towards debt financing and issuance of shares Net sales in 2015 increased by 2.3% due to which the net profit after tax has also increased by 98.7% that reflects the increased profits of the firm, it is also proposed by increased dividends paid by the company as the retained earnings are gradually increasing projecting future financial growth and market prosperity BYCO PETROLEUM LIMITED X PROFIT AND LOSS ACCOUNT For the year ended 30 June INDEX ANALYSIS IN PERCENTAGE % 2015 2014 2013 2015 2014 201 3 (Rupees in ‘000) (Rupees in ‘000) (Rupees in ‘000) % % % Sales 94,807,329 92,545,372 66,149,345 143.3232 139.9037 100 Cost of sales (89,940,833) (92,136,317) (66,047,138) 136.1767 139.5008 100 Gross profi t 4,866,496 409,055 102,207 4761.412 400.2221 100 Administrative expenses (582,239) (578,324) 671,350 86.7266 86.1434 100 Selling and distribution expenses (2,600,286) (1,794,389) 694,267 374.537 258.458 100 Total expense (801,036) (1,813,543) 1,365,617 58.6574 132.8 100 Operating Profit/ ( loss) 2,051,774 (1,081,858) (1,263,410) 162.4 85.63 100 Other charges (1,931,787) (3,104,398) (1,590,883) 121.4286 195.1368 100 Other income 2,934,709 2,695,343 844,267 347.6044 319.2524 100 Earnings/ Losses Before Interest and Tax (3,086,143) (3,629,253) (2,010,026) 153.5375 180.5575 100
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Financial charges (3,413,267) (3,816,840) (2,767,335) 123.3413 137.9248 100 Profit/Loss before taxation (937,943) (6,796,710) (4,777,361) 19.63308 142.2691 100 Taxation- Current 290,045 449,752 351,002 82.6334 128.134 100 100 Profit/Loss after taxation (647,898) (6,346,958) (4,948,297) 13.09335 128.2655 100 Loss per share - basic / diluted (0.66) (6.49) (5.06) BALANCE SHEET Common Size Analysis As at 30 June 2015 2014 2015 2014 (Rupees in ‘000) (Rupees in ‘000) % % ASSETS NON CURRENT ASSETS Property, plant and equipment 13,715,845 14,928,448 91.87723332 100 Long term investment - at cost 5,729,258 5,729,258 100 100 Long term advances 16,931,504 - Long term deposits 9,803 7,314 134.0306262 100 36,386,410 20,665,020 176.0773036 CURRENT ASSETS Stores and spares 279,1966 204,300 1366.601077 100 Stock in trade 4,859,615 8,777,507 55.36441042 100 Trade debts – unsecured 9,349,396 10,244,919 91.2588572 100 Loans and advances - considered good 1,497,310 742,706 201.6019798 100 Trade deposits, prepayments and other receivables 23188 779,914 2.973148321 100 Accrued mark-up 572,610 435,052 131.618749 100 Cash and bank balances 687,576 472,635 145.4771653 100 Non - current asset held for sale - 16,931,504 100 19,065,604 38,588,537 Total Assets 55,452,014 59,253,557 EQUITY AND LIABILITIES SHARE CAPITAL AND RESERVES Share capital 9,778,587 9,778,587 100 100 Accumulated losses (9,807,784) (24,057,777) 40.76762371 100 (29,197) (14,279,190) Surplus on revaluation of property, plant, and equipment 5,217,476 19,330,709 26.99060857 100 NON CURRENT LIABILITIES Long term loans and accrued mark-up 12,224,800 14,528,673 84.14257792 100
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Liabilities against assets subject to finance lease 1,730 4,948 34.96362167 100 Long term deposits 108,978 87,478 124.5776081 100 Deferred liabilities 1,036,268 1,794,638 57.7424528 100 Contribution towards right issue of shares - - Loan from sponsor – Unsecured - - Term finance certificates – Secured - - 13,371,776 16,415,737 81.45705551 100 CURRENT LIABILITIES Trade and other payables 31,553,626 27,981,013 112.7679902 100 Accrued mark-up 183,727 416,985 44.06081754 100 Short term borrowings – secured 737,609 6,402,108 11.52134578 100 Current portion of noncurrent liabilities 3,729,000 2,655,000 140.4519774 100 Current portion against assets subject to finance lease 4970 15,411 32.24969178 100 Provision for taxation 683,027 515,784 132.4250074 100 36,891,959 37,786,301 97.63315811 100 Contingencies and commitments Total Equity and Liabilities 55,452,014 59,253,557 93.58427883 100 INDEX ANALYSIS The financial position of a company in 2015 is moderately better than 2014 as in 2014, total expenses has increased and there is no Dec easement in cost of sales however in 2015, cost of sales has decreased. In 2015 byco limited
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