Crescent Textile Mills Ltd

Financial Position/Balance Sheets

Rupees in '000' 2020 2019

Equity and Liabilities

SHARE CAPITAL
Authorized AND100
share capital RESERVES
000 000 (2019:
100 000 000) ordinary shares of Rupees 10
each 1,000,000 1,000,000

Issued, subscribed and paid up share capital 800,000 800,000

Capital reserves
Premium on issue of right shares 200,169 200,169
Fair value reserve 673,438 523,811
Surplus on revaluation of operating fixed
assets - net of deferred income tax 4,160,766 3,567,457
Revenue reserves 2,805,331 2,815,298
Total Equity 8,639,704 7,906,735

Liabilities

Non-Current Liabilities
Long term financing 1,120,213 1,120,213

Current Liabilities
Trade and other payables 2,482,544 1,865,597
Unclaimed dividend 11,232 9,435
Accrued mark-up 100,604 119,940
Short term borrowings 6,239,650 5,935,657
Current portion of long term financing 34,727 274,858
Provision for taxation 166,194 138,368
9,034,951 8,343,855
Total Liabilities 10,155,164 9,464,068

TOTAL EQUITY AND LIABILITIES 18,794,868 17,370,803

Assets
Non-Current Assets
Property, plant and equipment 7,401,664 6,726,762
Intangible asset 20,180 5,806
Long term investments 3,693,231 3,792,196
Long term loans and advances 310 500
Long term deposits and prepayments 28,737 29,962
Deferred income tax asset 109,643 102,906
11,253,765 10,658,132
Current Assets
Stores, spare parts and loose tools 233,516 265,357
Stock-in-trade 3,186,554 2,284,668
Trade debts 2,419,493 2,647,825
Loans and advances 800,033 753,660
Short term deposits and prepayments 84,145 70,973
Accrued interest 5,651 4,771
Other receivables 295,830 290,591
Short term investment 476,896 390,358
Cash and bank balances 38,985 4,468
7,541,103 6,712,671

Total Assets 18,794,868 17,370,803

Purchases
Total Trade Debts (Creditors+Advances 5,711,478 5,430,596
from customers) 1,259,354 731,107
 2018 2017

1,000,000

800,000

200,169
1,225,974

3,567,516
2,576,670
8,370,329 9,855,294

845,071

1,488,144
9,513
85,596
6,416,791
258,038
140,604
8,398,686
9,243,757

17,614,086

6,328,138
12,139
3,736,188
1,082
 10,276
127,820
10,215,643

198,030
2,588,958 2,029,134
2,346,338 2,236,170
687,038
60,714
3,181
1,416,322 1,252,529
94,449
3,413
7,398,443

17,614,086 18,114,557

5,021,014
728,532 533,741
Crescent Textile Mills Ltd
Income Statements
Rupees in '000' 2020 2019 2018

Net Sales 13,264,005 13,946,144 11,314,259

Cost of Goods Sold 11,714,594 12,308,973 10,214,002
Gross Profit 1,549,411 1,637,171 1,100,257

Distribution Exp. 573,546 678,533 468,190

Administrative exp. 391,788 344,751 294,791
Other Expenses 43,465 41,579 14,244
1,008,799 1,064,863 777,225
540,612 572,308 323,032

Other Incomes 116,780 330,282 324,846

Profit from Operations 657,392 902,590 647,878
Finance Cost 480,866 506,750 637,703
Net Profit before Tax 176,526 395,840 10,175
Tax 142,927 157,251 1,720
Net Profit after Tax 33,599 238,589 8,455

Earning Per Share 0.42 2.98 0.11

CASH FLOWS FROM OPERATING ACTIVITIES

Cash generated from operations 988,051 1,545,886 449,574
Crescent Textile Mills Ltd
Income Statements

Rupees in '000' 2020 2019

Net Sales 13,264,005 13,946,144

Cost of Goods Sold 11,714,594 12,308,973
Gross Profit 1,549,411 1,637,171

Distribution Exp. 573,546 678,533

Administrative exp. 391,788 344,751
Other Expenses 43,465 41,579
1,008,799 1,064,863
540,612 572,308

Other Incomes 116,780 330,282

Profit from Operations 657,392 902,590
Finance Cost 480,866 506,750
Net Profit before Tax 176,526 395,840
Tax 142,927 157,251
Net Profit after Tax 33,599 238,589

Earning Per Share 0.42 2.98

Crescent Textile Mills Ltd

Financial Position/Balance Sheets
Rupees in '000' 2020 2019
Equity and Liabilities
Authorized share capital 100 000 000 (2019:
SHARE CAPITAL
100 000 000) AND
ordinary RESERVES
shares of Rupees 10
each 1,000,000 1,000,000

Issued, subscribed and paid up share capital 800,000 800,000

Capital reserves
Premium on issue of right shares 200,169 200,169
Fair value reserve 673,438 523,811
Surplus on revaluation of operating fixed
assets - net of deferred income tax 4,160,766 3,567,457
Revenue reserves 2,805,331 2,815,298
Total Equity 8,639,704 7,906,735
 Liabilities

Non-Current Liabilities
Long term financing 1,120,213 1,120,213

Current Liabilities
Trade and other payables 2,482,544 1,865,597
Unclaimed dividend 11,232 9,435
Accrued mark-up 100,604 119,940
Short term borrowings 6,239,650 5,935,657
Current portion of long term financing 34,727 274,858
Provision for taxation 166,194 138,368
9,034,951 8,343,855
Total Liabilities 10,155,164 9,464,068

TOTAL EQUITY AND LIABILITIES 18,794,868 17,370,803

Assets
Non-Current Assets
Property, plant and equipment 7,401,664 6,726,762
Intangible asset 20,180 5,806
Long term investments 3,693,231 3,792,196
Long term loans and advances 310 500
Long term deposits and prepayments 28,737 29,962
Deferred income tax asset 109,643 102,906
11,253,765 10,658,132
Current Assets
Stores, spare parts and loose tools 233,516 265,357
Stock-in-trade 3,186,554 2,284,668
Trade debts 2,419,493 2,647,825
Loans and advances 800,033 753,660
Short term deposits and prepayments 84,145 70,973
Accrued interest 5,651 4,771
Other receivables 295,830 290,591
Short term investment 476,896 390,358
Cash and bank balances 38,985 4,468
7,541,103 6,712,671

Total Assets 18,794,868 17,370,803

 Increase or Decrease Increase or Decrease
during 2020 during 2019

2018 Amount Percent Amount Percent

11,314,259 (682,139) -4.9% 2,631,885 23.3%

10,214,002 (594,379) -4.8% 2,094,971 20.5%
1,100,257 (87,760) -5.4% 536,914 48.8%
-
468,190 (104,987) -15.5% 210,343 44.9%
294,791 47,037 13.6% 49,960 16.9%
14,244 1,886 4.5% 27,335 191.9%
777,225 (56,064) -5.3% 287,638 37.0%
323,032 (31,696) -5.5% 249,276 77.2%
-
324,846 (213,502) -64.6% 5,436 1.7%
647,878 (245,198) -27.2% 254,712 39.3%
637,703 (25,884) -5.1% (130,953) -20.5%
10,175 (219,314) -55.4% 385,665 3790.3%
1,720 (14,324) -9.1% 155,531 9042.5%
8,455 (204,990) -85.9% 230,134 2721.9%

0.11

Increase or Decrease Increase or Decrease

during 2020 during 2019
2018 Amount Percent Amount Percent

1,000,000

800,000 - 0.0% - 0.0%

200,169 - 0.0% - 0.0%

1,225,974 149,627 28.6% (702,163) -57.3%

3,567,516 593,309 16.6% (59) 0.0%

2,576,670 (9,967) -0.4% 238,628 9.3%
8,370,329 732,969 9.3% (463,594) -5.5%
 845,071 0.0% 275,142 32.6%

1,488,144 616,947 33.1% 377,453 25.4%

9,513 1,797 19.0% (78) -0.8%
85,596 (19,336) -16.1% 34,344 40.1%
6,416,791 303,993 5.1% (481,134) -7.5%
258,038 (240,131) -87.4% 16,820 6.5%
140,604 27,826 20.1% (2,236) -1.6%
8,398,686 691,096 8.3% (54,831) -0.7%
9,243,757 691,096 7.3% 220,311 2.4%

17,614,086 1,424,065 8.2% (243,283) -1.4%

6,328,138 674,902 10.0% 398,624 6.3%

12,139 14,374 247.6% (6,333) -52.2%
3,736,188 (98,965) -2.6% 56,008 1.5%
1,082 (190) -38.0% (582) -53.8%
10,276 (1,225) -4.1% 19,686 191.6%
127,820 6,737 6.5% (24,914) -19.5%
10,215,643 595,633 5.6% 442,489 4.3%

198,030 (31,841) -12.0% 67,327 34.0%

2,588,958 901,886 39.5% (304,290) -11.8%
2,346,338 (228,332) -8.6% 301,487 12.8%
687,038 46,373 6.2% 66,622 9.7%
60,714 13,172 18.6% 10,259 16.9%
3,181 880 18.4% 1,590 50.0%
1,416,322 5,239 1.8% (1,125,731) -79.5%
94,449 86,538 22.2% 295,909 313.3%
3,413 34,517 772.5% 1,055 30.9%
7,398,443 828,432 12.3% (685,772) -9.3%

17,614,086 1,424,065 8.2% (243,283) -1.4%

Crescent Textile Mills Ltd
Income Statements

Rupees in '000' 2020 2019

Amount Percent Amount Percent

Net Sales 13,264,005 100.0% 13,946,144 100.0%

Cost of Goods Sold 11,714,594 88.3% 12,308,973 88.3%
Gross Profit 1,549,411 11.7% 1,637,171 11.7%

Distribution Exp. 573,546 4.3% 678,533 4.9%

Administrative exp. 391,788 3.0% 344,751 2.5%
Other Expenses 43,465 0.3% 41,579 0.3%
1,008,799 7.6% 1,064,863 7.6%
540,612 4.1% 572,308 4.1%

Other Incomes 116,780 0.9% 330,282 2.4%

Profit from Operations 657,392 5.0% 902,590 6.5%
Finance Cost 480,866 3.6% 506,750 3.6%
Net Profit before Tax 176,526 1.3% 395,840 2.8%
Tax 142,927 1.1% 157,251 1.1%
Net Profit after Tax 33,599 0.3% 238,589 1.7%

Earning Per Share 0.42 2.98

Crescent Textile Mills Ltd

Financial Position/Balance Sheets
Rupees in '000' 2020 2019
Amount Percent Amount Percent
Equity and Liabilities
Authorized share capital 100 000 000 (2019:
SHARE CAPITAL
100 000 000) AND
ordinary RESERVES
shares of Rupees 10
each 1,000,000 1,000,000

Issued, subscribed and paid up share capital 800,000 4.3% 800,000 4.6%
Capital reserves
Premium on issue of right shares 200,169 1.1% 200,169 1.2%
Fair value reserve 673,438 3.6% 523,811 3.0%
Surplus on revaluation of operating fixed
assets - net of deferred income tax 4,160,766 22.1% 3,567,457 20.5%
Revenue reserves 2,805,331 14.9% 2,815,298 16.2%
Total Equity 8,639,704 46.0% 7,906,735 45.5%

Liabilities

Non-Current Liabilities
Long term financing 1,120,213 6.0% 1,120,213 6.4%

Current Liabilities
Trade and other payables 2,482,544 13.2% 1,865,597 10.7%
Unclaimed dividend 11,232 0.1% 9,435 0.1%
Accrued mark-up 100,604 0.5% 119,940 0.7%
Short term borrowings 6,239,650 33.2% 5,935,657 34.2%
Current portion of long term financing 34,727 0.2% 274,858 1.6%
Provision for taxation 166,194 0.9% 138,368 0.8%
9,034,951 48.1% 8,343,855 48.0%
Total Liabilities 10,155,164 54.0% 9,464,068 54.5%

TOTAL EQUITY AND LIABILITIES 18,794,868 100.0% 17,370,803 100.0%

Assets
Non-Current Assets
Property, plant and equipment 7,401,664 39.4% 6,726,762 38.7%
Intangible asset 20,180 0.1% 5,806 0.0%
Long term investments 3,693,231 19.7% 3,792,196 21.8%
Long term loans and advances 310 0.0% 500 0.0%
Long term deposits and prepayments 28,737 0.2% 29,962 0.2%
Deferred income tax asset 109,643 0.6% 102,906 0.6%
11,253,765 59.9% 10,658,132 61.4%
Current Assets
Stores, spare parts and loose tools 233,516 1.2% 265,357 1.5%
Stock-in-trade 3,186,554 17.0% 2,284,668 13.2%
Trade debts 2,419,493 12.9% 2,647,825 15.2%
Loans and advances 800,033 4.3% 753,660 4.3%
Short term deposits and prepayments 84,145 0.4% 70,973 0.4%
Accrued interest 5,651 0.0% 4,771 0.0%
Other receivables 295,830 1.6% 290,591 1.7%
Short term investment 476,896 2.5% 390,358 2.2%
Cash and bank balances 38,985 0.2% 4,468 0.0%
7,541,103 40.1% 6,712,671 38.6%

Total Assets 18,794,868 100.0% 17,370,803 100.0%

 2018
Amount Percent

11,314,259 100.0%
10,214,002 90.3%
1,100,257 9.7%

468,190 4.1%
294,791 2.6%
14,244 0.1%
777,225 6.9%
323,032 2.9%

324,846 2.9%
647,878 5.7%
637,703 5.6%
10,175 0.1%
1,720 0.0%
8,455 0.1%

0.11

2018
Amount Percent
 1,000,000

800,000 4.5%

200,169 1.1%
1,225,974 7.0%

3,567,516 20.3%
2,576,670 14.6%
8,370,329 47.5%

845,071 4.8%

1,488,144 8.4%
9,513 0.1%
85,596 0.5%
6,416,791 36.4%
258,038 1.5%
140,604 0.8%
8,398,686 47.7%
9,243,757 52.5%

17,614,086 100.0%
 6,328,138 35.9% 0.39
12,139 0.1%
3,736,188 21.2%
1,082 0.0%
10,276 0.1%
127,820 0.7%
10,215,643 58.0%
0.0%
198,030 1.1%
2,588,958 14.7%
2,346,338 13.3%
687,038 3.9%
60,714 0.3%
3,181 0.0%
1,416,322 8.0%
94,449 0.5%
3,413 0.0%
7,398,443 42.0%

17,614,086 100.0%
 Liquidity Ratios Analysis

Liability Ratio Name Formulas 2020 Analysis

Current Assets 7,541,103

1 Current Ratio = =
Current Liabilities 9,034,951

Quick Assets 4,121,033

2 Quick Ratio = =
Current Liabilities 9,034,951

Cash 38,985
3 Cash to Current Liabilities = =
Current Liabilities 9,034,951

Operating Cashflow 988,051

4 Cash flow from operations to sales =
Sales 13,264,005
tios Analysis

2020 Analysis 2019 Analysis 2018 Analysis

6,712,671 7,398,443
0.83 0.80 0.88
8,343,855 8,398,686

4,162,646 4,611,455
0.46 0.50 0.55
8,343,855 8,398,686

4,468 3,413
0.0043 0.0005 0.0004
8,343,855 8,398,686

1,545,886 449,574
7.45% 11.08% 3.97%
13,946,144 11,314,259
 Turnover Analysis

Turnover Ratio Name Formulas 2020 Analysis 2019 Analysis

Cost of Goods Sold 11,714,594 12,308,973

1 Inventory Turnover = 4 Days 5 Days
Avg Inventory 2,735,611 2,436,813

365 365 365

2 Days in Inventory = 85 Days 72 Days
4.28 5.05
Inventory Turnover

Net Sales 13,264,005 13,946,144

3 Acounts Receivable Turnover = 5 Times 6 Times
Avg Net Accounts Receivable 2,533,659 2,497,082

365 365 365

4 Avg Collection Period = 70 Days 65 Days
Accounts Receivable Turnover 5.24 5.58

7 Working Capital Days Days in Inventory + Avg Collection Period = 155 Days 138 Days
 2018 Analysis

10,214,002
4 Days
2,309,046

365
83 Days
4.42

11,314,259
5 Times
2,291,254

365
74 Days
4.94

156 Days
 Profitability Ratios Analysis
Performance Ratio Name Formulas 2020 Analysis

Gross Profit 1,549,411

1 Gross Profit Ratio = 11.68%
Net Sale 13,264,005

Net Income 33,599

2 Profit Margin Ratio = 0.25%
Net Sale 13,264,005
======
ID#AAAAMLx3
bvE Net Sale 13,264,005
3 Assets Turnover = 0.73 Times
Average Total Assets
Khizar Khan 18,082,836
(2021-06-13
11:30:04) Net Income 33,599
4 Return on Assets I could not find = 0.19%
Average
cash dividend Total Assets 18,082,836
declared in
common stock - Preferred Dividends
Net Income 33,599
6 Return on common stockholders' Equity = 0.39%
Shareholders' Equity 8,639,704

Net Income - Preferred Dividends Already Given

7 Earning per Share = in Income 0.42
Number of shares of common stock outstanding Statement

Net Profit before Tax 176,526

8 Profit before Tax Ratio = 1.33%
Sales 13,264,005

Cost of Goods Sold 11,714,594

9 Cost/Revenue Ratio = 88.32%
Sales 13,264,005
sis
2019 Analysis 2018 Analysis

1,637,171 1,100,257
11.74% 9.72%
13,946,144 11,314,259

238,589 8,455
1.71% 0.07%
13,946,144 11,314,259

13,946,144 11,314,259
0.80 Times 0.63 Times
17,492,445 17,864,322

238,589 8,455
1.36% 0.05%
17,492,445 17,864,322

238,589 8,455
3.02% 0.10%
7,906,735 8,370,329

Already Given Already Given

in Income 2.98 in Income 0.11
Statement Statement

395,840 10,175
2.84% 0.09%
13,946,144 11,314,259

12,308,973 10,214,002
88.26% 90.28%
13,946,144 11,314,259
 Solvency Ratios Analysis
Solvency Ratio Name Formulas 2020 Analysis 2019 Analysis

Total Liabilities 10,155,164 9,464,068

1 Debt to Assets Ratio = 54.03% 54.48%
Total Assets 18,794,868 17,370,803

Earning before interest and taxes 657,392 902,590

2 Time Interest Earned = 4.6 5.7
taxes 142,927 157,251

Total Liabilities 10,155,164 9,464,068

3 Debt to Equity Ratio = 117.54% 119.70%
Total Shareholders Equity 8,639,704 7,906,735
 2018 Analysis

9,243,757
52.48%
17,614,086

647,878
376.7
1,720

9,243,757
110.43%
8,370,329