FLL was incorporated as a private limited company in January 1954 and was converted into a public limited company in September 1960. The company is listed on Karachi, Lahore and Islamabad stock exchanges.
Ferozsons Laboratories Ltd is primarily engaged in the manufacture and sale of pharmaceuticals and soap products.
The company has made investment of Rs 18.40 million in its subsidiary Farmacia-98% owned partnership concern. During the nine months period under review (9M 2004-05) the partnership concern's dividend share of Rs 4.13 million was added to the profitability of Ferozsons Laboratories Limited.
The share of the company is priced quite high at the stock exchange as the closing quotation of its share on July 25, 2005 was recorded at Rs 200 per share which is 20 times of its par value. During the last one year market value of the share ranged between Rs 162.10 and Rs 260 per share.
For the nine months period under review net sales of the company increased to Rs 473.57 million as compared to Rs 362.34 million posted in the same period last year (SPLY) registering 30.7% and this is quite impressive growth.
Gross profit stood at Rs 268.56 million showing 20.3% increase over Rs 223.32 million in the SPLY. The lower rate of growth in gross profit compared to increase in sales was due to pressure on cost of raw material.
Other income increased by Rs 3 million and finance cost remained minimal at about a million rupees. Receipt from profit of farmacia - subsidiary was 4.13 million as against loss booked at Rs 4.79 for the same period last year (SPLY). Net profit shot up to Rs 96.80 million as compared to Rs 69.05 million which shows 40.1% rise over the SPLY, and this is commendable increase in profitability.
As a long-term growth strategy the chairperson Mrs Akhter Khalid Waheed plans to increase the company's focus on portfolio of value added brands in the key areas of hepatology, oncology, cardiology and dermatology. She foresees accelerated growth momentum of the enterprise.
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Performance Statistics (Million Rupees)
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Balance sheet -As At-
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March 31 June 30
2005 2004
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Share Capital-Paid-up: 77.28 55.20
Reserves & Profit: 242.88 187.28
Shareholders Equity: 320.16 242.48
Surplus on Revaluation of
Fixed Assets: 60.99 61.28
L.T. Debts: 21.70 2.34
Deferred Liability for Taxation: 17.32 17.22
Current Liabilities: 120.36 118.05
Fixed Assets-Tangible: 264.76 226.95
L.T. Investments: 18.44 14.31
L.T. Deposits: 1.96 1.66
Current Assets: 255.37 198.45
Total Assets: 540.53 441.37
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Profit & Loss A/c for Nine Months Ended
March 31 2005 2004
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Sales-Net: 473.57 362.34
Gross Profit: 268.56 223.32
Other Operating Income: 8.77 5.59
Operating Profit: 142.36 106.84
Financial Cost: (1.24) (1.05)
Share in Profit/(Loss) of Subsidiary:4.13 (4.79)
Profit Before Taxation: 140.81 101.76
Profit After Taxation: 96.80 69.05
Earnings Per Share (Rs): 12.53 8.94
Share Price (Rs) on 25/07/05: 200.00 -
Price/Earning Ratio: 15.96 -
Book Value of Share (Rs): 41.43 43.93
Debt/Equity Ratio: 5:95 0:76
Current Ratio: 2.12 1.68
Gross Profit Margin (%): 56.71 61.33
Net Profit Margin (%): 20.44 19.06
R.O.A. (%): 17.91 15.64
R.O.E. (%): 30.23 28.48
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COMPANY INFORMATION: Chairman: Chairperson & Chief Executive: Ms Akhtar Khalid Waheed; Director/President: Osman Khalid Waheed; Company Secretary: Not Reported; Registered Office: Not Reported; Web Address: Not Reported; Factory: Not Reported.
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