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Financial analysis of pakistan oil field limited By M. Taha Uddin Khan Ghori

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Taha Ghori
Taha Ghori

The document analyzes the financial performance of Pakistan Oilfield Limited (POL) through balance sheets, income statements, and ratio analysis for 2012 and 2011. Key points include: POL's revenue increased to Rs. 28,624 million in 2012 and earnings per share increased to Rs. 50.1. The current ratio decreased slightly from 3.27 to 3.19, while return on assets remained strong at 22.65% in 2012. Overall, the analysis finds that POL continues to be a leading oil and gas company in Pakistan with generally stable or improving financial results.

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FINANCIAL ANALYSIS OF PAKISTAN OIL-FIELD LIMITED BY: M. TAHA UDDIN KHAN GHORI
COMPANY OVERVIEW POL is the symbol of Pakistan Oilfield Limited in KSE-100. POL was incorporated in November 25, 1950. POL is a leading oil and gas exploration and production company. Its revenue have stood Rs. 28,624 million in 2012. Its earning price have increased to Rs. 50.1 in 2012.
BALANCE SHEET COMPOSITION 43% 20% 37% Assets - 2012 Total fixed assets Other long-term asset Total current assets 42% 21% 37% Assets - 2011 Total fixed assets Other long- term asset Total current assets
BALANCE SHEET COMPOSITION 67% 21% 12% Shareholder equity and liability 2012 Total share holder equity Total non- current liabilities Total current liabilty 71% 17% 12% Shareholder equity and liability 2011 Total share holder equity Total non- current liabilities Total current liabilty
HORIZONTAL ANALYSIS BALANCE SHEET (Note Rupees (000)) 2012 2011 Difference change in % SHARE CAPITAL AND RESERVES Issued, subscribed and paid up capital 2,365,459 2,365,459 0 0% Revenue reserves 32,847,810 31,048,217 1,799,593 5.80% Fair value gain on available-for-sale investments 57,973 9,412 48,561 515.95% Total Share Holder Equity 35,271,242 33,423,088 1,848,154 5.53% NON CURRENT LIABILITIES Long term deposits 504,448 487,314 17,134 3.52% Deferred liabilities 10,504,449 7,710,102 2,794,347 36.24% Total noncurrent liabilities 11,008,897 8,197,416 2,811,481 34.30% CURRENT LIABILITIES AND PROVISIONS Trade and other payables 4,465,713 4,045,039 420,674 10.40% Provision for income tax 1,593,673 1,373,662 220,011 16.02% Total current liabilities 6,059,386 5,418,701 640,685 11.82% Total liability 17068283 13616117 3,452,166 25.35% TOTAL SHARE CAPITAL AND LIABILITIES 52,339,525 47,039,205 5,300,320 11.27%
FIXED ASSETS Property, plant and equipment 4,163,781 4,257,760 -93,979 -2.21% Development and decommissioning costs 15,687,791 10,568,414 5,119,377 48.44% Exploration and evaluation assets 2,883,055 4,810,730 -1,927,675 -40.07% Total fixed assets 22,734,627 19,636,904 3,097,723 15.78% Long Term Investments In Subsidiary And Associated Companies 9,615,603 9,615,603 0 0% Other Long Term Investments 658,672 69,677 588,995 845.32% Long Term Loans And Advances 16,273 20,067 -3,794 -18.91% CURRENT ASSETS Stores and spares 2,939,308 2,632,488 306,820 11.66% Stock in trade 134,199 126,411 7,788 6.16% Trade debts 3,006,567 4,343,528 -1,336,961 -30.78% Advances, deposits, prepayments and other receivables 601,966 662,879 -60,913 -9.19% Short term investments 3,898,907 3,226,550 672,357 20.84% Cash and bank balances 8,733,403 6,705,098 2,028,305 30.25% Total current assets 19,314,350 17,696,954 1,617,396 9.14% HORIZONTAL ANALYSIS
INCOME STATEMENT (Note Rupees (000)) 2012 2011 Difference change in % NET SALES 28,624,055 24,950,707 3,673,348 14.72% Cost of goods sold -11,117,627 -9,322,980 -1,794,647 19.25% GROSS PROFIT 17,506,428 15,627,727 1,878,701 12.02% Exploration costs -593,554 -1,075,045 -481,491 44.79% Administration expenses -113,339 -83,101 -30,238 36.39% OPERATING PROFIT 16,799,535 14,469,581 2,329,954 16.10% Other charges -1,286,588 -1,104,237 -182,351 16.51% Other operating income 2,547,207 1,808,596 738,611 40.84% EBIT 18,060,154 15,173,940 2,886,214 19.02% Finance cost -684,576 -223,930 -460,646 205.71% PROFIT BEFORE TAXATION 17,375,578 14,950,010 2,425,568 16.22% Provision for taxation -5,522,783 -4,135,000 -1,387,783 33.56% NET INCOME 11,852,795 10,815,010 1,037,785 9.60% HORIZONTAL ANALYSIS
BALNCE SHEET (Note Rupees (000)) 2012 change in % 2011 change in % SHARE CAPITAL AND RESERVES Issued, subscribed and paid up capital 2,365,459 4.52% 2,365,459 5.03% Revenue reserves 32,847,810 62.76% 31,048,217 66.00% Fair value gain on available-for-sale investments 57,973 0.11% 9,412 0.02% Total Share Holder Equity 35,271,242 67.39% 33,423,088 71.05% NON CURRENT LIABILITIES Long term deposits 504,448 0.96% 487,314 1.04% Deferred liabilities 10,504,449 20.07% 7,710,102 16.39% Total noncurrent liabilities 11,008,897 21.03% 8,197,416 17.43% CURRENT LIABILITIES AND PROVISIONS Trade and other payables 4,465,713 8.53% 4,045,039 8.60% Provision for income tax 1,593,673 3.04% 1,373,662 2.92% Total current liabilities 6,059,386 11.58% 5,418,701 11.52% Total liability 17068283 32.61% 13616117 28.95% TOTAL SHARE CAPITAL AND LIABILITIES 52,339,525 100% 47,039,205 100% VERTICAL ANALYSIS
FIXED ASSETS Property, plant and equipment 4,163,781 7.96% 4,257,760 9.05% Development and decommissioning costs 15,687,791 29.97% 10,568,414 22.47% Exploration and evaluation assets 2,883,055 5.51% 4,810,730 10.23% Total fixed assets 22,734,627 43.44% 19,636,904 41.75% Long Term Investments In Subsidiary And Associated Companies 9,615,603 18.37% 9,615,603 20.44% Other Long Term Investments 658,672 1.26% 69,677 0.15% Long Term Loans And Advances 16,273 0.03% 20,067 0.04% CURRENT ASSETS Stores and spares 2,939,308 5.62% 2,632,488 5.60% Stock in trade 134,199 0.26% 126,411 0.27% Trade debts 3,006,567 5.74% 4,343,528 9.23% Advances, deposits, prepayments and other receivables 601,966 1.15% 662,879 1.41% Short term investments 3,898,907 7.45% 3,226,550 6.86% Cash and bank balances 8,733,403 16.69% 6,705,098 14.25% Total current assets 19,314,350 36.90% 17,696,954 37.62% TOTAL ASSETS 52,339,525 100% 47,039,205 100% VERTICAL ANALYSIS
INCOME STATEMENT (Note Rupees (000)) 2012 change% 2011 change% NET SALES 28,624,055 100.00% 24,950,707 100.00% Cost of goods sold -11,117,627 -38.84% -9,322,980 -37.37% GROSS PROFIT 17,506,428 61.16% 15,627,727 62.63% Exploration costs -593,554 -2.07% -1,075,045 -4.31% Administration expenses -113,339 -0.40% -83,101 -0.33% OPERATING PROFIT 16,799,535 58.69% 14,469,581 57.99% Other charges -1,286,588 -4.49% -1,104,237 -4.43% Other operating income 2,547,207 8.90% 1,808,596 7.25% EBIT 18,060,154 63.09% 2,886,214 11.57% Finance cost -684,576 -2.39% -223,930 -0.90% PROFIT BEFORE TAXATION 17,375,578 60.70% 14,950,010 59.92% Provision for taxation -5,522,783 -19.29% -4,135,000 -16.57% NET INCOME 11,852,795 41.41% 10,815,010 43% VERTICAL ANALYSIS
Liquidity Ratio 2012 2011 Current Ratio (times) 3.19 3.27 Working Capital 13,254,964,000 12,278,253,000 Quick Ratio (times) 4.01 3.87 Cash Ratio (times) 3.52 3.07 Profitability Ratio Return on assets (%) 22.65% 22.99% Operating income margin (%) 58.69% 57.99% Gross profit margin (%) 61.16% 62.63% Return on equity (%) 33.60% 32.36% Solvency Ratio Operating cash flow to total debt (%) 89.45% 91.27% Debt of total assets (%) 32.61% 28.95% Debt to equity (%) 48.39% 40.74% RATIOS
Efficiency Accounts Receivable Turnover (times) 9.52 5.74 Total assets Turnover (times) 0.55 0.53 Accounts Receivable turnover (days) 38.34 63.54 Market Value Earning per share 50.11 45.72 Price earnings ratio 9.38 10.29 Dividend Payout Ratio 2.00% 2.19% RATIOS
EARNING PER SHARE 40 45 50 55 2012 2011 EPS
Financial analysis of pakistan oil field limited By M. Taha Uddin Khan Ghori

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Financial analysis of pakistan oil field limited By M. Taha Uddin Khan Ghori

  • 1. FINANCIAL ANALYSIS OF PAKISTAN OIL-FIELD LIMITED BY: M. TAHA UDDIN KHAN GHORI
  • 2. COMPANY OVERVIEW POL is the symbol of Pakistan Oilfield Limited in KSE-100. POL was incorporated in November 25, 1950. POL is a leading oil and gas exploration and production company. Its revenue have stood Rs. 28,624 million in 2012. Its earning price have increased to Rs. 50.1 in 2012.
  • 3. BALANCE SHEET COMPOSITION 43% 20% 37% Assets - 2012 Total fixed assets Other long-term asset Total current assets 42% 21% 37% Assets - 2011 Total fixed assets Other long- term asset Total current assets
  • 4. BALANCE SHEET COMPOSITION 67% 21% 12% Shareholder equity and liability 2012 Total share holder equity Total non- current liabilities Total current liabilty 71% 17% 12% Shareholder equity and liability 2011 Total share holder equity Total non- current liabilities Total current liabilty
  • 5. HORIZONTAL ANALYSIS BALANCE SHEET (Note Rupees (000)) 2012 2011 Difference change in % SHARE CAPITAL AND RESERVES Issued, subscribed and paid up capital 2,365,459 2,365,459 0 0% Revenue reserves 32,847,810 31,048,217 1,799,593 5.80% Fair value gain on available-for-sale investments 57,973 9,412 48,561 515.95% Total Share Holder Equity 35,271,242 33,423,088 1,848,154 5.53% NON CURRENT LIABILITIES Long term deposits 504,448 487,314 17,134 3.52% Deferred liabilities 10,504,449 7,710,102 2,794,347 36.24% Total noncurrent liabilities 11,008,897 8,197,416 2,811,481 34.30% CURRENT LIABILITIES AND PROVISIONS Trade and other payables 4,465,713 4,045,039 420,674 10.40% Provision for income tax 1,593,673 1,373,662 220,011 16.02% Total current liabilities 6,059,386 5,418,701 640,685 11.82% Total liability 17068283 13616117 3,452,166 25.35% TOTAL SHARE CAPITAL AND LIABILITIES 52,339,525 47,039,205 5,300,320 11.27%
  • 6. FIXED ASSETS Property, plant and equipment 4,163,781 4,257,760 -93,979 -2.21% Development and decommissioning costs 15,687,791 10,568,414 5,119,377 48.44% Exploration and evaluation assets 2,883,055 4,810,730 -1,927,675 -40.07% Total fixed assets 22,734,627 19,636,904 3,097,723 15.78% Long Term Investments In Subsidiary And Associated Companies 9,615,603 9,615,603 0 0% Other Long Term Investments 658,672 69,677 588,995 845.32% Long Term Loans And Advances 16,273 20,067 -3,794 -18.91% CURRENT ASSETS Stores and spares 2,939,308 2,632,488 306,820 11.66% Stock in trade 134,199 126,411 7,788 6.16% Trade debts 3,006,567 4,343,528 -1,336,961 -30.78% Advances, deposits, prepayments and other receivables 601,966 662,879 -60,913 -9.19% Short term investments 3,898,907 3,226,550 672,357 20.84% Cash and bank balances 8,733,403 6,705,098 2,028,305 30.25% Total current assets 19,314,350 17,696,954 1,617,396 9.14% HORIZONTAL ANALYSIS
  • 7. INCOME STATEMENT (Note Rupees (000)) 2012 2011 Difference change in % NET SALES 28,624,055 24,950,707 3,673,348 14.72% Cost of goods sold -11,117,627 -9,322,980 -1,794,647 19.25% GROSS PROFIT 17,506,428 15,627,727 1,878,701 12.02% Exploration costs -593,554 -1,075,045 -481,491 44.79% Administration expenses -113,339 -83,101 -30,238 36.39% OPERATING PROFIT 16,799,535 14,469,581 2,329,954 16.10% Other charges -1,286,588 -1,104,237 -182,351 16.51% Other operating income 2,547,207 1,808,596 738,611 40.84% EBIT 18,060,154 15,173,940 2,886,214 19.02% Finance cost -684,576 -223,930 -460,646 205.71% PROFIT BEFORE TAXATION 17,375,578 14,950,010 2,425,568 16.22% Provision for taxation -5,522,783 -4,135,000 -1,387,783 33.56% NET INCOME 11,852,795 10,815,010 1,037,785 9.60% HORIZONTAL ANALYSIS
  • 8. BALNCE SHEET (Note Rupees (000)) 2012 change in % 2011 change in % SHARE CAPITAL AND RESERVES Issued, subscribed and paid up capital 2,365,459 4.52% 2,365,459 5.03% Revenue reserves 32,847,810 62.76% 31,048,217 66.00% Fair value gain on available-for-sale investments 57,973 0.11% 9,412 0.02% Total Share Holder Equity 35,271,242 67.39% 33,423,088 71.05% NON CURRENT LIABILITIES Long term deposits 504,448 0.96% 487,314 1.04% Deferred liabilities 10,504,449 20.07% 7,710,102 16.39% Total noncurrent liabilities 11,008,897 21.03% 8,197,416 17.43% CURRENT LIABILITIES AND PROVISIONS Trade and other payables 4,465,713 8.53% 4,045,039 8.60% Provision for income tax 1,593,673 3.04% 1,373,662 2.92% Total current liabilities 6,059,386 11.58% 5,418,701 11.52% Total liability 17068283 32.61% 13616117 28.95% TOTAL SHARE CAPITAL AND LIABILITIES 52,339,525 100% 47,039,205 100% VERTICAL ANALYSIS
  • 9. FIXED ASSETS Property, plant and equipment 4,163,781 7.96% 4,257,760 9.05% Development and decommissioning costs 15,687,791 29.97% 10,568,414 22.47% Exploration and evaluation assets 2,883,055 5.51% 4,810,730 10.23% Total fixed assets 22,734,627 43.44% 19,636,904 41.75% Long Term Investments In Subsidiary And Associated Companies 9,615,603 18.37% 9,615,603 20.44% Other Long Term Investments 658,672 1.26% 69,677 0.15% Long Term Loans And Advances 16,273 0.03% 20,067 0.04% CURRENT ASSETS Stores and spares 2,939,308 5.62% 2,632,488 5.60% Stock in trade 134,199 0.26% 126,411 0.27% Trade debts 3,006,567 5.74% 4,343,528 9.23% Advances, deposits, prepayments and other receivables 601,966 1.15% 662,879 1.41% Short term investments 3,898,907 7.45% 3,226,550 6.86% Cash and bank balances 8,733,403 16.69% 6,705,098 14.25% Total current assets 19,314,350 36.90% 17,696,954 37.62% TOTAL ASSETS 52,339,525 100% 47,039,205 100% VERTICAL ANALYSIS
  • 10. INCOME STATEMENT (Note Rupees (000)) 2012 change% 2011 change% NET SALES 28,624,055 100.00% 24,950,707 100.00% Cost of goods sold -11,117,627 -38.84% -9,322,980 -37.37% GROSS PROFIT 17,506,428 61.16% 15,627,727 62.63% Exploration costs -593,554 -2.07% -1,075,045 -4.31% Administration expenses -113,339 -0.40% -83,101 -0.33% OPERATING PROFIT 16,799,535 58.69% 14,469,581 57.99% Other charges -1,286,588 -4.49% -1,104,237 -4.43% Other operating income 2,547,207 8.90% 1,808,596 7.25% EBIT 18,060,154 63.09% 2,886,214 11.57% Finance cost -684,576 -2.39% -223,930 -0.90% PROFIT BEFORE TAXATION 17,375,578 60.70% 14,950,010 59.92% Provision for taxation -5,522,783 -19.29% -4,135,000 -16.57% NET INCOME 11,852,795 41.41% 10,815,010 43% VERTICAL ANALYSIS
  • 11. Liquidity Ratio 2012 2011 Current Ratio (times) 3.19 3.27 Working Capital 13,254,964,000 12,278,253,000 Quick Ratio (times) 4.01 3.87 Cash Ratio (times) 3.52 3.07 Profitability Ratio Return on assets (%) 22.65% 22.99% Operating income margin (%) 58.69% 57.99% Gross profit margin (%) 61.16% 62.63% Return on equity (%) 33.60% 32.36% Solvency Ratio Operating cash flow to total debt (%) 89.45% 91.27% Debt of total assets (%) 32.61% 28.95% Debt to equity (%) 48.39% 40.74% RATIOS
  • 12. Efficiency Accounts Receivable Turnover (times) 9.52 5.74 Total assets Turnover (times) 0.55 0.53 Accounts Receivable turnover (days) 38.34 63.54 Market Value Earning per share 50.11 45.72 Price earnings ratio 9.38 10.29 Dividend Payout Ratio 2.00% 2.19% RATIOS