BERGER PAINTS

Quarter / Fiscal Year Ended 2019A 2020A 2021A 2022-Q1 2022-Q2 2022-Q3 2022A 2023-Q1 2023-Q2 2023-Q3 2023A
Figures PAKISTAN RUPEE (000)
Market Price Per Share as at Quarter / Year End
BS Equity Share Capital ( 204,597) ( 40,543) ( 204,597) ( 204,597) ( 204,597) ( 204,597) ( 204,597) ( 245,516) ( 245,516) ( 204,597) ( 245,516)
BS Equity Capital & Other Reserves ( 903,660) ( 877,100) ( 45,304) ( 51,612) ( 54,700) ( 55,414) ( 58,017) ( 54,673) ( 50,632) ( 55,414) ( 56,205)
BS Equity Revenue Reserves ( 1,126,416) ( 1,257,980) ( 1,260,500) ( 1,333,218) ( 1,252,825) ( 1,471,479) ( 1,573,489) ( 1,333,218) ( 1,398,469)
BS Equity Surplus on Revaluation of Fixed Assets ( 472,012) ( 932,783) ( 849,056) ( 825,505) ( 816,388) ( 811,660) ( 830,273) ( 1,472,347) ( 1,465,422) ( 811,660) ( 1,495,613)
BS LT Liabilities Long-term Borrowing ( 89,635) ( 120,122) ( 152,498) ( 658,662) ( 131,643) ( 531,593) ( 199,222) ( 436,711) ( 394,258) ( 531,593) ( 427,554)
BS LT Liabilities Long-Term Lease Liabilities ( 416,666)
BS LT Liabilities Others ( 154,049) ( 156,057) ( 76,744) ( 146,791) ( 174,149) ( 173,876) ( 154,642) ( 279,211) ( 271,961) ( 173,876) ( 271,065)
BS ST Liabilities Trade & Others Payable ( 1,192,513) ( 900,926) ( 1,569,174) ( 1,782,983) ( 1,552,706) ( 1,739,926) ( 1,756,458) ( 2,224,070) ( 2,441,212) ( 1,656,592) ( 2,020,366)
BS ST Liabilities Interest & Markup ( 39,432) ( 1,086,724) ( 869,984) ( 45,836) ( 41,691) ( 37,978) ( 45,298) ( 47,651) ( 35,733) ( 37,978) ( 31,459)
BS ST Liabilities Short Term Borrowing ( 1,210,727) ( 6,687) ( 7,551) ( 1,060,332) ( 1,052,011) ( 666,024) ( 1,380,765) ( 455,943) ( 418,621) ( 13,101) ( 438,414)
BS ST Liabilities Current Portion Of Long Term Liabilities ( 80,356) ( 229,421) ( 110,291) ( 69,110) ( 143,661) ( 60,327) ( 69,110) ( 228,098) ( 217,841) ( 796,584) ( 228,098)
BS ST Liabilities Current Taxation
BS LT Assets PPE ( 1,177,145) ( 1,638,058) ( 1,634,795) ( 1,600,447) ( 1,569,047) ( 1,544,674) ( 1,628,161) ( 2,278,046) ( 2,243,704) ( 1,544,674) ( 2,306,831)
BS LT Assets Investment Property ( 54,504) ( 52,505)
BS LT Assets Long Term Investments ( 116,011) ( 70,566) ( 64,510) ( 58,289) ( 88,402) ( 70,915) ( 76,947) ( 87,418) ( 88,402) ( 78,479)
BS LT Assets Long Term Loans and Advances ( 44,628) ( 49,900) ( 42,726) ( 40,782) ( 38,632) ( 32,389) ( 36,278) ( 40,782) ( 37,261)
BS LT Assets Long Term Deposits ( 17,875) ( 38,151) ( 42,451) ( 35,736) ( 38,138) ( 24,506) ( 28,188) ( 35,736) ( 22,218)
BS LT Assets Deferred Tax ( 21,205) ( 29,093) ( 11,103) ( 12,014)
BS LT Assets Others ( 70,574) ( 25,516) ( 211) ( 9) ( 12,014) ( 23) ( 12,014)
BS ST Assets Store Spares & Loose Tools ( 16,906) ( 13,593) ( 18,491) ( 25,311) ( 29,990) ( 31,258) ( 22,735) ( 31,375) ( 32,757) ( 31,258) ( 30,341)
BS ST Assets Stock In Trade ( 917,368) ( 1,085,933) ( 1,225,895) ( 1,815,497) ( 1,374,249) ( 1,414,225) ( 1,625,411) ( 1,627,920) ( 1,739,489) ( 1,414,225) ( 1,437,793)
BS ST Assets Trade Debts ( 1,461,014) ( 1,039,773) ( 1,219,678) ( 1,713,076) ( 1,926,959) ( 1,579,720) ( 1,628,302) ( 1,950,093) ( 2,162,909) ( 1,579,720) ( 1,907,525)
BS ST Assets Loans & Advances ( 138,786) ( 156,048) ( 277,245) ( 213,790) ( 244,499) ( 304,956) ( 221,950) ( 319,494) ( 342,593) ( 304,956) ( 277,322)
BS ST Assets Other Receivables ( 13,891) ( 104,579) ( 184,323) ( 312,368) ( 436,241) ( 89,513) ( 286,448) ( 265,051) ( 200,018) ( 290,405) ( 245,047)
BS ST Assets Short Term Investments ( 354,335) ( 316,939) ( 254,337) ( 219,581) ( 19,149) ( 427,868) ( 166,821) ( 232,687) ( 153,260) ( 226,976) ( 222,864)
BS ST Assets Cash & Bank Balance ( 76,625) ( 40,635) ( 44,476) ( 39,665) ( 93,098) ( 45,465) ( 223,671) ( 77,191) ( 88,071) ( 45,465) ( 47,078)
IS Revenues Sales ( 5,120,444) ( 4,177,951) ( 5,602,160) ( 1,571,233) ( 3,654,803) ( 5,322,416) ( 7,073,478) ( 2,070,218) ( 4,387,972) ( 5,322,416) ( 7,341,165)
IS Expenses Cost of Sales ( (4,004,021) ( (3,301,617) ( (4,485,600) ( (1,285,631) ( (2,965,341) ( (4,269,789) ( (5,851,468) ( (1,673,969) ( (3,534,362) ( (4,269,789) ( (5,858,052)
IS Expenses Administrative Expenses ( (184,684) ( (167,647) ( (172,057) ( (51,040) ( (333,821) ( (148,680) ( (191,950) ( (51,879) ( (107,692) ( (148,680) ( (208,993)
IS Expenses Selling Cost & Distribution Cost ( (665,377) ( (479,685) ( (538,891) ( (163,886) ( (104,417) ( (481,580) ( (677,395) ( (190,631) ( (379,201) ( (481,580) ( (582,571)
IS Revenues Other Operating Income ( 31,681) ( 84,041) ( 91,580) ( 1,517) ( 36,975) ( 54,125) ( 106,160) ( 17,684) ( 43,092) ( 54,125) ( 97,691)
IS Expenses Other Operating Expenses ( (19,978) ( (8,461) ( (112,388) ( (175) ( (31,954) ( (46,933) ( (48,330) ( (9,711) ( (29,968) ( (46,933) ( (174,498)
IS Expenses Finance Cost ( (165,067) ( (190,050) ( (117,758) ( (71,474) ( (144,319) ( (209,410) ( (163,477) ( (82,752) ( (137,794) ( (209,410) ( (283,545)
IS Expenses Provision For Taxation: Deferred
IS Expense Provision For Taxation: Current ( (12,173) ( (40,224) ( (71,825) ( (158) ( (36,297) ( (76,530) ( (45,132) ( (29,215) ( (97,218) ( (76,530) ( (91,136)
CFS CFO Cash Flow Generated From Operations ( 171,613) ( 217,632) ( 748,666) ( (89,858) ( 100,594) ( 644,859) ( 76,367) ( 150,336) ( 293,139) ( 644,859) ( 995,346)
CFS CFO Finance Cost Paid ( (70,936) ( (36,536) ( (216,730) ( (140,298) ( (43,668) ( (133,507) ( (216,730)
CFS CFO Income Tax Paid ( (56,608) ( (2,782) ( (88,625) ( (147,926) ( (115,690) ( (2,934) ( (66,560) ( (67,000) ( (115,690) ( (87,189)
CFS CFO Others ( (144,270) ( (195,625) ( (320,686) ( (14,650) ( (22,975) ( (49,384) ( 20,288) ( 753) ( (11,164) ( (24,566) ( (338,290)
CFS CFO Total Cash Flow From Operating Activities ( (29,265) ( 19,225) ( 427,980) ( (264,069) ( (106,843) ( 263,055) ( (46,577) ( 40,861) ( 81,468) ( 287,873) ( 569,867)
CFS CFI Fixed Capital Expenditure ( (92,907) ( (93,471) ( (133,349) ( (6,883) ( (10,889) ( (21,135) ( (133,349) ( (24,950) ( (44,376) ( (21,135) ( (25,655)
CFS CFI Proceeds from Disposal of Operating Fixed Assets ( 78,542) ( 17,349) ( 8,585) ( 2,613) ( 2,613) ( 8,585) ( 2,613) ( 14,408)
CFS CFI Interest and Dividend Received ( 13,889) ( 9,748) ( 9,748) ( 23,708)
CFS CFI Long Term Investment ( (29,400) ( (29,400)
CFS CFI Proceeds from Long Term Investment
CFS CFI Others ( 21,858) ( 2,195) ( (51,000) ( (51,000) ( (51,000) ( 2,195) ( (12,484) ( 100,000) ( (51,000) ( (110,399)
CFS CFI Total Cash Flow From Investing Activities ( 7,493) ( (62,233) ( (112,821) ( (57,883) ( (59,276) ( (98,922) ( (112,821) ( (37,434) ( 55,624) ( (98,922) ( (97,938)
CFS CFF Long Term Financing ( 31,728) ( 179,967) ( (87,676) ( 458,378) ( 446,139) ( 429,423) ( (87,676) ( 9,157) ( (4,627) ( 429,423) ( 375,668)
CFS CFF Short term Financing ( (300,000) ( 41,976) ( (81,276) ( (160,552) ( (160,552) ( (160,552)
CFS CFF Dividend Paid ( (21,509) ( (19,753) ( (19,596) ( (250) ( (44,716) ( (75,564) ( (19,596) ( (75,564) ( (75,559)
CFS CFF Others ( (81,276) ( (41,667) ( (255,552)
CFS CFF Equity Issued
CFS CFF Total Cash Flow From Financing Activities ( (289,781) ( 202,190) ( (188,548) ( 458,128) ( 240,871) ( 193,307) ( (188,548) ( 9,157) ( (46,294) ( 193,307) ( 44,557)
CFS LT assets Depreciation
CFS LT assets Amortization
CFS LT assets Other Non-Cash items
NOTES TO FS
Notes Revenues Export Sales ( 135,220) ( 103,952) ( 86,461) ( 10,320) ( 12,522) ( 39,800) ( 55,288)
Notes Revenues Local Sales ( 6,819,543) ( 6,114,410) ( 7,999,515) ( 1,571,233) ( 5,551,239) ( 5,322,416) ( 10,780,380) ( 2,070,218) ( 6,295,174) ( 5,322,416) ( 11,141,904)
Notes Revenues Sales Tax and Others ( (1,834,319) ( (2,040,411) ( (2,483,816) ( (1,906,756) ( (3,719,424) ( (1,947,002) ( (3,856,027)
Notes Revenues Others
Notes Revenues Net Revenues ( 5,120,444) ( 4,177,951) ( 5,602,160) ( 1,571,233) ( 3,654,803) ( 5,322,416) ( 7,073,478) ( 2,070,218) ( 4,387,972) ( 5,322,416) ( 7,341,165)
Notes COGS Raw Material Consumed ( 3,309,860) ( 2,810,521) ( 3,795,179) ( 2,550,372) ( 5,151,534) ( 3,240,665) ( 4,904,449)
Notes COGS Fuel and Power ( 3,628) ( 87,668) ( 56,045) ( 96,291) ( 64,749) ( 90,713)
Notes COGS Store Spares & Loose Tools ( 2,523) ( (7,635) ( 5,332) ( 5,642) ( 7,007) ( 3,438) ( 9,425)
Notes COGS Salaries and Wages ( 241,026) ( 8,733) ( 224,263) ( 152,447) ( 268,273) ( 139,601) ( 193,031)
Notes COGS Depreciation ( 32,868) ( 23,478) ( 103,130) ( 50,598) ( 98,442) ( 87,229) ( 101,265)
Notes COGS Repair and Maintenance ( 53,506) ( 50,865) ( 33,583) ( 22,165) ( 41,503) ( 22,442) ( 41,987)
Notes COGS Others ( 277,275) ( 467,553) ( 232,767) ( 1,285,631) ( 151,781) ( 4,269,789) ( 189,126) ( 1,673,969) ( 173,726) ( 4,269,789) ( 478,045)
Notes COGS Total MFG cost ( 3,917,058) ( 3,357,143) ( 4,481,922) ( 1,285,631) ( 2,989,050) ( 4,269,789) ( 5,852,176) ( 1,673,969) ( 3,731,850) ( 4,269,789) ( 5,818,915)
Notes COGS Opening Work In Progress
Notes COGS Closing Work In Progress
Notes COGS Opening Finished Goods ( 358,134) ( 339,781) ( 468,735) ( 484,634) ( 514,481) ( 507,097) ( 512,452)
Notes COGS Closing Finished Goods ( (271,171) ( (395,307) ( (465,057) ( (508,343) ( (515,189) ( (704,585) ( (473,315)
Notes COGS Total Cost Of Goods Sold ( 4,004,021) ( 3,301,617) ( 4,485,600) ( 1,285,631) ( 2,965,341) ( 4,269,789) ( 5,851,468) ( 1,673,969) ( 3,534,362) ( 4,269,789) ( 5,858,052)
Notes Expenses Administrative Expenses ( 184,684) ( 167,647) ( 172,057) ( 51,040) ( 333,821) ( 148,680) ( 191,950) ( 51,879) ( 107,692) ( 148,680) ( 208,993)
Notes Expenses Selling Expenses ( 665,377) ( 479,685) ( 538,891) ( 163,886) ( 104,417) ( 481,580) ( 677,395) ( 190,631) ( 379,201) ( 481,580) ( 582,571)
Notes Expenses Total Operating Cost ( 4,854,082) ( 3,948,949) ( 5,196,548) ( 1,500,557) ( 3,403,579) ( 4,900,049) ( 6,720,813) ( 1,916,479) ( 4,021,255) ( 4,900,049) ( 6,649,616)
Notes Revenues Other Income Investment Related ( 12,150) ( 83,310) ( 86,400) ( 1,000) ( 30,900) ( 35,879) ( 98,582) ( 8,976) ( 27,495) ( 40,987) ( 40,897)
Notes Revenues Other income Non-Investment Related ( 19,531) ( 731) ( 5,180) ( 517) ( 6,075) ( 18,246) ( 7,578) ( 8,708) ( 15,597) ( 13,138) ( 56,794)
( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -)
Checks
Total Assets ( 4,346,981) ( 4,554,960) ( 5,011,615) ( 6,103,408) ( 5,848,712) ( 5,614,613) ( 5,951,207) ( 6,915,699) ( 7,114,685) ( 5,614,613) ( 6,612,759)
Total Liabilities ( 2,766,712) ( 2,499,937) ( 2,786,242) ( 3,763,714) ( 3,512,527) ( 3,209,724) ( 3,605,495) ( 3,671,684) ( 3,779,626) ( 3,209,724) ( 3,416,956)
Total equity ( 1,580,269) ( 1,850,426) ( 2,225,373) ( 2,339,694) ( 2,336,185) ( 2,404,889) ( 2,345,712) ( 3,244,015) ( 3,335,059) ( 2,404,889) ( 3,195,803)
Difference ( -) ( 204,597) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -)
Total revenues ( 5,152,125) ( 4,261,992) ( 5,693,740) ( 1,572,750) ( 3,691,778) ( 5,376,541) ( 7,179,638) ( 2,087,902) ( 4,431,064) ( 5,376,541) ( 7,438,856)
Total Expenses ( (5,051,300) ( (4,187,684) ( (5,498,519) ( (1,572,364) ( (3,616,149) ( (5,232,922) ( (6,977,752) ( (2,038,157) ( (4,286,235) ( (5,232,922) ( (7,198,795)
Net profit ( 100,825) ( 74,308) ( 195,221) ( 386) ( 75,629) ( 143,619) ( 201,886) ( 49,745) ( 144,829) ( 143,619) ( 240,061)
Preference Dividend ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -)

CashFlow Checks
CFO ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -)
CFI ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -)
CFF ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -)

Income Statement Checks

Revenue ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -)
Cost of Goods Sold ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -)
Admin & Selling Expenses ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -) ( -)

Quantative Data Notes Issued Share Capital ( 204,597) ( 40,543) ( 204,597) ( 204,597) ( 204,597) ( 204,597) ( 204,597) ( 245,516) ( 245,516) ( 204,597) ( 245,516)
Quantative Data Notes Weighted Average Number Of Shares Basic ( 5,120,444) ( 20,459,710) ( 20,459,710) ( 20,459,710) ( 20,459,710) ( 20,459,710) ( 20,459,679) ( 20,459,679) ( 20,459,679) ( 20,459,679) ( 24,551,614)
Quantative Data Notes Weighted Average Number Of Shares-Diluted ( 5,120,444) ( 20,459,710) ( 20,459,710) ( 20,459,710) ( 20,459,710) ( 20,459,710) ( 20,459,679) ( 20,459,679) ( 20,459,679) ( 20,459,679) ( 24,551,614)
Quantative Data Notes Production Capacity
BERGER PAINTS
Quantative Data Notes Actual Production ( 37,349) ( 31,330) ( 39,653) ( 43,793) ( 40,217)

EPS - Basic ( 0.02) ( 0.00) ( 0.01) ( 0.00) ( 0.00) ( 0.01) ( 0.01) ( 0.00) ( 0.01) ( 0.01) ( 0.01)
EPS - Diluted ( 0.02) ( 0.00) ( 0.01) ( 0.00) ( 0.00) ( 0.01) ( 0.01) ( 0.00) ( 0.01) ( 0.01) ( 0.01)

BERGER PAINTS - RATIO ANALYSIS

Profitability Ratios 2019A 2020A 2021A 2022-Q1 2022-Q2 2022-Q3 2022A 2023-Q1 2023-Q2 2023-Q3 2023A
Gross Profit Ratio 21.80% 20.98% 19.93% 18.18% 18.86% 19.78% 17.28% 19.14% 19.45% 19.78% 20.20%
Net Profit Margin 1.97% 1.78% 3.48% 0.02% 2.07% 2.70% 2.85% 2.40% 3.30% 2.70% 3.27%
Operating Profit Ratio 5.20% 5.48% 7.24% 4.50% 6.87% 7.94% 4.99% 7.43% 8.36% 7.94% 9.42%
Return on Equity 6.38% 4.02% 8.77% 0.02% 3.24% 5.97% 8.61% 1.53% 4.34% 5.97% 7.51%
Return on Assets 2.32% 1.63% 3.90% 0.01% 1.29% 2.56% 3.39% 0.72% 2.04% 2.56% 3.63%
Return on Capital Employed 15.25% 14.32% 15.68% 2.29% 8.38% 13.81% 15.21% 4.08% 9.49% 13.81% 15.79%
Pre-Tax Margin 2.19% 2.69% 4.69% 0.03% 3.03% 4.09% 3.44% 3.78% 5.46% 4.09% 4.45%
Operating Expense Ratio -17.68% -7.39% -42.09% -32.17% -28.55% -21.32% -19.57% -12.30% -12.38% -21.32% -52.69%
Operating ROA 0.73% 1.85% 1.83% 0.02% 0.63% 0.96% 1.78% 0.26% 0.61% 0.96% 1.48%

Liquidity Ratios: 2019A 2020A 2021A 2022-Q1 2022-Q2 2022-Q3 2022A 2023-Q1 2023-Q2 2023-Q3 2023A
Current Ratio 1.18 1.24 1.26 1.47 1.48 1.55 1.28 1.52 1.52 1.55 1.53
Quick Ratio 0.81 0.75 0.77 0.84 0.97 0.98 0.78 0.96 0.95 0.98 0.99
Cash ratio 0.03 0.02 0.02 0.01 0.03 0.02 0.07 0.03 0.03 0.02 0.02
Net Working Capital 455897 533742 667445 1381027 1334116 1388750 923707 1548049 1605690 1388750 1449633

Capital Ratios: 2019A 2020A 2021A 2022-Q1 2022-Q2 2022-Q3 2022A 2023-Q1 2023-Q2 2023-Q3 2023A
Debt to Equity Ratio 1.75 1.35 1.25 1.61 1.50 1.33 1.54 1.13 1.13 1.33 1.07
Debt to Capital 0.64 0.57 0.56 0.62 0.60 0.57 0.61 0.53 0.53 0.57 0.52
Debt to Total Assets 0.64 0.55 0.56 0.62 0.60 0.57 0.61 0.53 0.53 0.57 0.52

Activity Ratios: 2019A 2020A 2021A 2022-Q1 2022-Q2 2022-Q3 2022A 2023-Q1 2023-Q2 2023-Q3 2023A
Asset turnover ratio 1.18 0.92 1.12 0.26 0.62 0.95 1.19 0.30 0.62 0.95 1.11
Fixed asset Turnover ratio 3.74 2.32 3.13 0.89 2.12 3.09 3.98 0.86 1.83 3.09 3.00
Account Receivable Turnover Ratio 3.50 4.02 4.59 0.92 1.90 3.37 4.34 1.06 2.03 3.37 3.85
Account Payable Days -3.36 -3.66 -2.86 -0.72 -1.91 -2.45 -3.33 -0.75 -1.45 -2.58 -2.90
Payabale turnover ratio 3.36 3.15 3.63 0.72 1.78 2.59 3.52 0.75 1.45 2.58 3.10
Inventory Turnover 4.36 3.04 3.66 -0.71 -2.16 -3.02 3.60 -1.03 -2.03 -3.02 4.07