The organisation is a public limited company incorporated in the province of Punjab. Its registered office is situated at IEP Building Gulberg III Lahore and manufacturing facilities are located in District Sheikhupura.
The company was listed at Karachi Stock Exchange in 1990. In the 22 member Synthetic & Rayon sector the prevalent price of its share at Rs 43.25 is ranking 5th. This sector price of Gatron Industries share is the highest at Rs 145.0 per share, followed by Al Abid Silk (Rs 71), S.G. Fibre (Rs 52.80) and Liberty Mills (Rs 45.20).
During the last one year the price of the Rupali Polyester share went up at Rs 60 from Rs 29 per share.
The year-to-date volume of its transacted share was recorded at 642 thousand shares which is the lowest amongst its peers who are engaged in the manufacture of polyester fibre/chips/filament.
The-year-to-date volume of Ibrahim Fibres was recorded at 10.736 million shares and Pakistan Synthetics volume at 1.281 million shares.
The moderate demand for its share may be because it is less liquid as well was the company's modest dividend payouts compared to a few companies in the sector whose shares carry also higher premiums.
Such as in 2003, the dividend/bonus rate of Gatron was 55%. Dilon Ltd at Rs 60% Liberty Mills at 25%. Rupali's payout profile was also good because it was consistent as in 2003 it announced dividend at 20% similar to the previous year 2002.
The financial backbone of the company further strengthened during the period under review (9M 2003-04). Its robustness can be seen from its excellent debt to equity ratio, current ratio and book value of its share.
The balance sheet is awash with cash amounting to Rs 0.85 billion which was presumably deployed in the investment of scrips. It can also be observed that the company posted relatively substantial amount of Rs 62.67 on account of other income.
The improvement in its liquidity position is also due to drastic reduction in trade debts. On the other hand the financial charges diminished to a trickle.
The company's sales improved to Rs 2.392 billion by 22.1% from Rs 1.927 billion posted during the same period last year (SPLY).
Despite impressive growth in sales the gross profit remained static at the level of the SPLY. But the improved net profit could be possibly mainly because of other income.
The chairman Jafferali M. Feerasta rejoiced while emphasising that the company has NO institutional liabilities.
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Performance Statistics (Million Rupees)
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Balance sheet -As At-
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March 31 June 30
2004 2003
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Share Capital-Paid-up: 340.68 340.68
Reserves & Surplus: 1,593.05 1,447.29
Shareholders Equity: 1,933.73 1,787.97
L.T Debts: - 1.70
Staff Retirement Benefits Gratuity: 38.02 36.23
Provision for Deferred Taxation: 100.76 100.76
Deferred Income: 0.06 0.12
Current Liabilities: 128.63 272.87
Tangible Fixed Assets: 482.47 519.04
L.T Deposits & Prepayments: 4.49 5.46
Current Assets: 1,714.24 1,675.15
Total Assets: 2,201.20 2,199.65
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Profit & Loss A/c For the
Nine Months Ended March 31 2004 2003
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Sales: 2,391.79 1,927.25
Gross Profit: 236.46 236.02
Financial (Charges): (2.12) (14.76)
Operating Profit: 178.20 165.18
Other Income: 62.67 17.89
Profit Before Taxation: 224.25 170.44
Profit After Taxation: 145.76 110.78
Earnings Per Share (Rs): 4.28 3.25
Share Price (Rs) on 19-07-04: 43.25 -
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Financial Ratios
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Price/Earning Ratio: 10.10 -
Book Value of Share (Rs): 56.77 52.48
Debt/Equity Ratio: 0:100 0:100
Current Ratio: 13.32 6.14
Gross Profit Margin (%): 9.89 12.25
Net Profit Margin (%): 6.09 5.74
R.O.A (%): 6.62 5.04
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