Sui Southern Gas Company Limited

Balance Sheet
For the year ended As at June 30, 2022
2022 2021
ASSETS
Non-current assets
Property, plant and equipment 175,263,737 135,987,526
Intangible assets 226,209 110,920
Right of use assets 85,051 148,634
Deferred tax asset 2,823,415 2,592,082
Long term investments 1,401,745 1,458,681
Net investment in finance lease 73,321
Long term loans and advances 1,425,381 1,697,525
Long term deposits 18,632 18,733
Total non-current assets 181,244,170 142,087,422

Current Assets
Stores, spares and loose tools 3,645,946 3,454,702
Stock in trade 2,304,295 1,575,623
Current portion of net investment in finance lease 73,321 57,814
Customers' installation work-in-progress 244,305 249,578
Trade debts 109,085,866 92,133,807
Loans and advances 564,780 508,152
Advances, deposits, and short term prepayments 975,841 1,130,748
Interest accrued 16,692,130 15,153,952
Other receivables 461,821,871 359,967,952
Taxation - net 16,079,192 17,609,468
Cash and bank balances 3,078,230 573,696
Total current assets 614,565,777 492,415,492
TOTAL ASSETS 795,809,947 634,502,914

Liabilities
Non-current Assets
Long term financing 17,015,705 21,235,549
Long term deposits 24,506,273 22,871,737
Employee benefits 7,724,066 5,603,105
Payable against transfer of pipeline 684,981 755,645
Deferred credit 4,304,590 4,592,823
Contract liabilities 9,517,256 7,786,074
Lease liability 19,029 42,894
Long term advances 3,971,110 3,155,496
Total Non-current Assets 67,743,010 66,043,323

Current liabilities
Current portion of long term financing 6,664,669 8,080,662
Short term borrowings 23,878,298 23,750,594
Trade and other payables 682,927,371 540,548,044
Current portion of payable against transfer of pipeline 70,664 64,610
Current portion of deferred credit 443,575 442,114
Current portion of contract liabilities 262,881 232,352
Current portion lease liability 55,475 84,384
Unclaimed dividend 285,373 285,426
Interest accrued 17,957,484 17,142,960
Total current liabilities 732,545,790 590,631,146
Total liabilities 800,288,800 656,674,469

Equity
Share Capital and Reserves
Share Capital 8,809,163 8,809,163
Reserves 4,907,401 4,907,401
Surplus on re-measurement of FVTOCI securities 115,836 172,772
Surplus on revaluation of property, plant and equipment 54,107,435 24,347,314
Accumulated loss -72,418,688 -60,408,205
TOTAL EQUITY AND LIABILITIES 795,809,947 634,502,914

Trend Analysis
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Trend Analysis 2022 Linear (Trend Analysis 2022)
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Trend Analysis Forecasting
2022 2021 2023 2024 2025

129% 100% 155625631.5 165444684.25 160535157.88

204% 100% 168564.5 197386.75 182975.625
57% 100% 116842.5 100946.75 108894.625
109% 100% 2707748.5 2765581.75 2736665.125
96% 100% 1430213 1415979 1423096
0% 100% 36660.5 18330.25 27495.375
84% 100% 1561453 1493417 1527435
99% 100% 18682.5 18657.25 18669.875
128% 100% 161665796 171454983 166560389.5

106% 100% 3550324 3598135 3574229.5

146% 100% 1939959 2122127 2031043
127% 100% 65567.5 69444.25 67505.875
98% 100% 246941.5 245623.25 246282.375
118% 100% 100609836.5 104847851.25 102728843.88
111% 100% 536466 550623 543544.5
86% 100% 1053294.5 1014567.75 1033931.125
110% 100% 15923041 16307585.5 16115313.25
128% 100% 410894911.5 436358391.25 423626651.38
91% 100% 16844330 16461761 16653045.5
537% 100% 1825963 2452096.5 2139029.75
125% 100% 553490634.5 584028205.75 568759420.13
125% 100% 715156430.5 755483188.75 735319809.63

80% 100% 19125627 18070666 18598146.5

107% 100% 23689005 24097639 23893322
138% 100% 6663585.5 7193825.75 6928705.625
91% 100% 720313 702647 711480
94% 100% 4448706.5 4376648.25 4412677.375
122% 100% 8651665 9084460.5 8868062.75
44% 100% 30961.5 24995.25 27978.375
126% 100% 3563303 3767206.5 3665254.75
103% 100% 66893166.5 67318088.25 67105627.375

82% 100% 7372665.5 7018667.25 7195666.375

 101% 100% 23814446 23846372 23830409
126% 100% 611737707.5 647332539.25 629535123.38
109% 100% 67637 69150.5 68393.75
100% 100% 442844.5 443209.75 443027.125
113% 100% 247616.5 255248.75 251432.625
66% 100% 69929.5 62702.25 66315.875
100% 100% 285399.5 285386.25 285392.875
105% 100% 17550222 17753853 17652037.5
124% 100% 661588468 697067129 679327798.5
122% 100% 728481634.5 764385217.25 746433425.88

100% 100% 8809163 8809163 8809163

100% 100% 4907401 4907401 4907401
67% 100% 144304 130070 137187
222% 100% 39227374.5 46667404.75 42947389.625
120% 100% -66413446.5 -69416067.25 -67914756.88
125% 100% 715156430.5 755483188.75 735319809.63

Trend Analysis
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Income statement
For the year ended June 30, 2022 Trend Analysis
2022 2021 2022
Revenue from contracts with customers - Gas sales 299,628,511 271,486,670 110%
Tariff adjustments 75,930,537 24,642,231 308%
375,559,048 296,128,901 127%
Cost of sales -367,840,505 -301,878,844 122%
Gross profit / (loss) 7,718,543 -5,749,943 -134%
Administrative and selling expenses -5,084,613 -4,446,333 114%
Other operating expenses -20,337,874 -463,520 4388%
Allowance for expected credit loss -2,121,563 -2,229,028 95%
-27,544,050 -7,138,881 386%
-19,825,507 -12,888,824 154%
Other income 17,280,257 18,643,222 93%
(Loss) / profit before interest and taxation -2,545,250 5,754,398 -44%
Finance cost -5,190,235 -4,619,329 112%
(Loss) / profit before taxation -7,735,485 1,135,069 -681%
Taxation -3,708,630 820,445 -452%
(Loss) / profit for the year -11,444,115 1,955,514 -585%

Trend Analysis
5000% 500,000,000

400,000,000
4000%
300,000,000

3000% 200,000,000

100,000,000

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Trend Analysis 2022 Linear (Trend Analysis 2022)
2021
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Trend Analysis 2022 Linear (Trend Analysis 2022)
2021
 Trend Analysis Forecasting
2021 2023 2024 2025
100% 285557590.5 292593050.75 289075320.63
100% 50286384 63108460.5 56697422.25
100% 335843974.5 355701511.25 345772742.88
100% -334859674.5 -351350090 -343104882
100% 984300 4351421.5 2667860.75
100% -4765473 -4925043 -4845258
100% -10400697 -15369285.5 -12884991.25
100% -2175295.5 -2148429.25 -2161862.375
100% -17341465.5 -22442757.75 -19892111.63
100% -16357165.5 -18091336.25 -17224250.88
100% 17961739.5 17620998.25 17791368.875
100% 1604574 -470338 567118
100% -4904782 -5047508.5 -4976145.25
100% -3300208 -5517846.5 -4409027.25
100% -1444092.5 -2576361.25 -2010226.875
100% -4744300.5 -8094207.75 -6419254.125

Trend Analysis
500,000,000 120%

400,000,000

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2022 2021 Trend Analysis 2022 2021

 ue -400,000,000
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2022 2021 Trend Analysis 2022 2021

Financial Ratios
Sui Southern Gas Company Limited

Ratios 2022 2021

Operating Ratios
Gross margin 2.06% -1.94%
Pre tax margin -2.06% 0.38%
Net margin -3.05% 0.66%

Performance
Asset turnover ratio 0.53 0.48
Fixed assets turnover ratio 2.41 2.19
Inventory turnover 2.52 2.39

Valuation and other Ratios

Earnings per share -12.99 2.22
Price earnings ratio -0.7 5.99
Current ratio 0.84 0.83