Download - Anmol Textile Mills Ltd 2013-14
EXECUTIVE SUMMARY
The Textile Industry:When Pakistan came into being there were only 16 textile mills out of which only 12 were
in operation. It grew to 70 in 1957 as industrial development takes place. Now a day there
are 596 textile mills out of which 442 are in operation. Over the years, Pakistan is said to
be the single crop economy i.e. cotton and textile that claims the lion's share in terms of
the contribution in the national economy of Pakistan.
Despite efforts to bring in diversification in country's overall economic get-up the textile
sector continues to be the most important segment of the national economy. Its share in
the economy, in terms of GDP, exports, employment, foreign exchange earnings,
investment and revenue generation altogether placed the textile industry as the single
largest determinant of the economic growth of the country. Despite harsh and hard
international economic conditions, Pakistan's textile industry has weathered the storm
by coming out of the international crisis in a very positive manner.
Textiles Exports from Pakistan:
Textiles constitute a major exporting sector for Pakistan, which accounts for about 60% of
the country’s total foreign exchange earnings. The major export items are yarn; gray Cloth,
finished cloth, towels and bed sheets and their major customers are the USA, Europe,
Japan and Hong Kong. Many textile exports take place under quota arrangements With the
Europe and the United States. Gray cloth constitutes roughly 16-18% of total cloth.
At present, the export competitiveness of the textile industry can be improved by
aggressive marketing techniques and quality improvements which have to be taken care
of micro-level that is each textile unit should make its own independent efforts to sell its
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products in different international markets.
ANMOL has grown from a cotton export house into the premier business group of
Pakistan concentrating on 4 core businesses; Textiles, Cement, Banking and Power
Generation. Today, ANMOL is considered to be at par with multinationals operating locally
in terms of its quality products and management skills.
The company is free from the energy crisis because it has set up its own power generation
units that are not even fulfilling the energy requirement of ANMOL mills but they are also
selling this to Government. The company is holding the position with the spinning,
weaving and dying units with the extraordinary production capacity.
ANMOL is running different business with different famous products like ANMOL Linen
that has opened its outlets in major cities of Pakistan.
Different departments are working well to achieve the strategic aims of the company.
They are adopting the latest Management information system to access data that
results in producing timely results for different departments
The financial ratio analysis shows that the company is enjoying good profits and is
consistently running its operations even in the conditions when the country is passing
through critical conditions.
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ANMOL MILLS LIMITEDANMOL MILLS LIMITED (ANMOL) commenced business in 1951 as a partnership
concern, which was converted into private limited company in 1959. In 1961, the
company went public and was listed on the Karachi stock exchange, the only stock
exchange in the country at that time. In 1989 the Company was listed on Lahore Stock
Exchange and in 1992 The Company was listed on Islamabad Stock Exchange.
It is one of the most modern, largest vertically integrated textile companies in Pakistan.
ANMOL started out as a weaving unit with 500 semi-automatic looms; later 10000 spindles
were added, laying the foundation on nation’s biggest textiles composite project. The
Company also has the most modern textile dyeing and processing units, 2 stitching
units and Power Generation facilities with a capacity of 89 MW.
The Company’s total export for the year 2012 was Rs. 35.610 billion (US$ 416 million). Due
to the application of cautious management policies, consolidation of operations, a strong
balance sheet and an effective marketing strategy, the growth trend is expected to
continue in the years to come. The Company's production facilities comprise of spinning,
weaving, processing, stitching and power generation. Its sales are 48,565,144,000 Rs.
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COMPANY INFORMATIONBOARD OF DIRECTORS:
Chief Executive Mr. Sheikh Niaz Anjum
Rana Muhammad Mushtaq Ms. Nabiha Shahnawaz Cheema Mr. Muhammad Azam
AUDIT COMMITTEE:
Mr. Khalid Qadeer Qureshi Chairman/Member Mr. Muhammad Azam Member Ms. Nabiha Shahnawaz Cheema Member
CHIEF FINANCIAL OFFICER:
Mr. Badar-ul-Hassan
COMPANY SECRETARY:
Mr. Khalid Mahmood Chohan
AUDITORS:
Riaz Ahmad & Company Chartered Accountants
LEGAL ADVISOR:
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Mr. M. Aurangzeb Khan, Advocate, Chamber No. 6, District Court, Faisalabad.
MILLS:
Mill Site: 120 Km GT Road Okara
Phone: +92-442-545430
Fax: +92-442-5423234
HEAD OFFICE: Office: Suit #1, 2nd Floor, 15 Shah Jamal, Lahore
Phone: +92-42-7541540, 7532344
Fax: +92-42-7543342
Email: [email protected]
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Mission Statement
To provide quality products to customers and explore new markets to
promote/expand sales of the Company through good governance and foster a
sound and dynamic team, so as to achieve optimum prices of products of the
Company for sustainable and equitable growth and prosperity of the
Company.
VISION STATEMENT
To transform the Company into a modern and dynamic yarn, cloth and
processed cloth and finished product manufacturing Company that is fully
equipped to play a meaningful role on sustainable basis in the economy of
Pakistan.
To transform the Company into a modern and dynamic power generating
Company that is fully equipped to play a meaningful role on sustainable basis
in the economy of Pakistan.
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Company ProfileSponsors:
Since last four decades, the members of this group have made tremendous contribution in boosting the textile trading sector in Pakistan. The members of the group are widely recognized as pioneer of textile yarn traders in the country. This achievement and recognition is the result of group’s efforts in adopting advanced techniques of trading, remarkable organization culture and on time honoring its commitments.
Indoor Management:
The company today derives its strength from a unique blend of entrepreneurial ownership added with unparalleled skill of professionals.
Today, the company is managed by highly qualified team of professionals with vast experience in their respective fields. Every department is headed by a professional, qualified and experienced executive.
Employees Welfare & Addition in Building:
Anmol Textile Mills Ltd believes in admirable work environment. The management staff relationship which exists within Anmol bears witness to this principle. Various social welfare schemes and programs like social security, provident fund, free medical services, regular and performance bonuses, easy loan facilities have been implemented for the benefit of the employees. In order to provide ideal residential
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to workers and officers Workers Colony, Bachelor Hostel and G.M. Bungalow are constructed at site.
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Marketing Profile
Anmol Textile Mills Ltd has special edge to have its own sales outlets in Lahore so it’s a great support that we are directly linked with market nervous system that support us instantaneously to evaluate market demand and cater customer requirements more efficiently than any other unit so we have strong marketing profile.
Company Objectives:
1- Anmol Textile Mills Ltd, strives to establish a long terms relationship with customers by providing them on time delivery of Quality products.
2- Anmol Textile Mills Ltd, give importance to get quality through best yarn .
3- Anmol Textile Mills Ltd, System requirements are aimed at achieving customer satisfaction by providing conforming product and meeting or exceeding customer and applicable regulatory requirements through application of Quality Management system , continuous improvement and prevention of non conformity.
4- Anmol Textile Mills Ltd, ensures that the company adequately identifies customer requirements, through all Quality Management System processes, to achieve customer satisfactions.
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ANMOL BUSINESS & PRODUCTS
Sp i n n i n g
W e avi n g
P r o ce ss in g
Ho m e T e xtile
G a r me n ts
P o w e r G e ne r ation
ANMOL Li n e n
ANMOL Hospitality (Private) Limited
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FUNCTIONS OF VARIOUS DEPARTMENTSThe organization is divided into following departments:
1. Human Resources
2. Finance
3. Marketing
4. Export
5. Administration
6. MIS
7. Production
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FINANCE DEPARTMENT:Finance department has following sections:
Accounts Section
Banking Section
Purchase Section
Sales Section
Accounts SectionI managed to understand about the flow of transaction, preparation of vouchers and
ledger posting.
Preparation of vouchers:
In account department under the supervision of concerned officers, I came to know
different type of vouchers being prepared and their process of preparation. Vouchers
are written evidence of any business transaction. The different types of vouchers being
prepared by the account department of ANMOL Mills are as under,
Cash payment vouchers
Cash receipts vouchers
Bank payment vouchers
Bank receipt vouchers
Journal voucher or adjustment vouchers
Petty cash vouchers
These vouchers are now discussed below in detail:
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Cash Payment Vouchers:
Being a public limited company cash payment vouchers are used for recording the
expense of less than five thousand. These types of vouchers are prepared when cash
payments are made against small expenses i.e. repair, entertainment etc. In order to
record the expenses following entry is passed:
Account code name of expense (debit) Amount
Cash account (credit) Amount
Evidence of expense is attached with the cash payment vouchers.
Cash Receipt Vouchers:
These types of vouchers are prepared when the cashier on behalf of the ANMOL mills
limited is receiving cash. However, these types of vouchers are small in quantity because
majority of transactions are done by bank. On receipt of cash, cashier prepared the
cash received slip. Account officer prepares voucher on the basis of cash receipt prepared
by the cashier. In order to book the transaction the following entry is passed in the books.
Account code cash account (debit) Amount
Income A/C or receivable A/C (credit) Amount
Bank Payment Vouchers:
Being a public limited company the majority of payment transactions of the ANMOL mill
limited are carried out through banks. Bills and invoices being approved by the
competent authority reach at the table of accounts officer for payment. Account officer
checks the approval and mathematical accuracy of the bill and prepares the bank payment
voucher. Accounts officer first confirms the nature of expense i.e. capital or revenue and
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deduction of tax if applicable then pass the following entry;
Account code Asset name or expense (debit) amount
Bank account (credit) amount
Deduction of tax at source (credit) amount
Evidence of expense/asset is attached with the cash payment voucher.
Bank Receipt Vouchers:
Account code cheques clearing A/C (debit) amount Account receivable A/C (credit) amount
Advance against sale A/C (credit) amount
On clearing of above referred cheques following entry passed in the books of account
officers. Account code Bank A/C (debit) Amount
Cheques clearing A/C (credit) Amount
Adjustment Voucher or Journal Vouchers:
These types of vouchers are generally prepared in the following circumstances;
Purchase on credit
Sales on credit
Writing off assets i.e. depreciation store consumption etc.
Rectification of mistakes or omissions
These are discussed below in detail,
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Purchase on credit:
Generally raw material, stores and spares are purchased on credit. In order to account
them for the journal voucher are prepared by the concerned account officer
Account code Purchase A/C (debit) Amount
Account payable A/C (credit) Amount Copy of the invoices is attached with
vouchers.
Sales on credit:
Like purchases, sales (local and export) are made on credit and at the time of delivery of
goods following journal are prepared by the account officer:
Credit sales A/C Amount
Copy of invoices is attached with voucher.
Writing off assets:
These journal vouchers are prepared in order to change the assets to expense for the
preparation of monthly accounts.
To account for depreciation of fixed assets: Account code Depreciation A/C (debit) Amount
Accumulated depreciation A/C (credit) Amount
To account for the raw material consumption:
Account code raw material concerned A/C (debit) amount
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Raw material store A/C (credit) amount
To account for store consumption:
Account code store concerned A/C (debit) amount
Store and spares A/C (credit) amount
To account for accrued expenses:
Account code expense A/C (debit) amount
Account payable A/C (credit) amount
In additional to above referred kinds journal voucher is also passed to rectify the mistakes
made in voucher preparation or posting.
Ledger Posting:
Computer operator puts log number and makes posting in computer. Accounts of ANMOL
MILLS are computerized and ledgers are prepared in computer. After the preparation and
coding of voucher it is sent to computer operator for posting. A daily print out of all entries
is checked to check the accuracy. After checking the accuracy the master file is updated
and posting is made to respective account ledger by the computer. These record files are
also send to record room that they can be recalled as ever needed.
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BANKING SECTION
The main purpose of the department is ensuring the availability of the funds for operation,
best utilization of available fund and to deal with banks. Finance manger prepares daily
cash flows statement in order to determine needs and utilization of funds.
A weekly projected cash flows statement is also prepared in order to determine the need
of the coming week. An account officer prepares bank reconciliation statement of all the
banks and list out the outstanding entries. He then traces the reason for these entries and
put bank reconciliation on the table of finance manager. On receipt of bank statement the
manager prepares cash flow statement and presents it to the finance director for future
actions.
Dealing with bank is normally by receiving bank reconciliation statements. When
banking department receives such statement it tallies transaction with its own ledgers.
Certifies that whether items debited or credited is true in all respect. If any discrepancy is
found it is told to bank. Since ANMOL mills limited is a large organization so daily bank
reconciliation are received from the bank.
Process:
All the cheques, which are presented for payments, any interest or commission charged
by the bank, cheques, received by the banks and credited in the account of ANMOL
mills limited, any interest received on account of ANMOL mills limited by bank are
recorded and then tallied. A person designated as Assistant Manager Heads banking
department.
Mark Up Sheets:
Second major function of the banking department of ANMOL mills limited is preparation of
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mark up sheet. Normally finance is obtained from banks against securities. The
securities are (a) pledge cotton (b) mortgaging machinery etc.
This loan is taken sometimes for short period and sometimes for longer period. So in these
loans interest is paid. This interest rate varies. This interest is calculated on daily basis.
When interest and loan amount is paid to bank, it is this department, which calculates
the interest amount due on ANMOL mills limited. Although interest sheet is sent by bank
but it is reconciled by the department.
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PURCHASE SECTION
PURCHASE DEPARTMENTThe purchase department is divided into two categories, cotton purchase department and store purchase department.
COTTON PURCHASE DEPARTMENTCotton purchase department is most important department in textile industry. Quality of yarn depends upon cotton that has been purchased. It becomes most important when there is business of export. There is no question on quality. Because your minor mistake may result in huge losses. Moreover you will loss your credibility. Form director to cotton selectors all are involved in cotton purchase process.
STORE PURCHASE DEPARTMENTStores incharge heads the store purchase department.
Purchase department is as under:
Director
Purchase Officer
Assistant Purchase Officer
Purchase Clerk
The store purchase department is responsible for the purchase of items like Spare parts of machinery, and Packing material spares, electric items, Oil and lubricants, Stationery items, Building Material and General Store.
DOCUMENTS Demand Requisition
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Invoice of Purchase
Delivery Order
In Gate Pass
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SALES SECTIONSales department is one of the important departments in any industry. If a unit produces best quality goods but have not competitive staff then it would be difficult to sell the products. The structure of sales department is as under.
ANMOL Textile Mills is selling its product to local as well as in international market. Thus the sales department of the ANMOL Textile Mills is divided in to two sections
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Director
Manager Local Sales Manager Export
Commercial Asst Export Asst
Sales Department
Local sales Deptt Export Deptt
Procedure The following activities are performed in the local sales department. The directors receive the order of yarn by Tele phone, fax or e-mail. Directors evaluate the capability to fulfill the order by consulting daily
stock repot from mills. Directors give the instructions to local sales manager that transfer the
information on local sale contract slip. Before issuing contract slip, sales manager checks the selling limits of
the particular party and discusses the matter with Director if it is selling limit Sales department writes the three copies of delivery order signed by
director One copy is dispatched to the mill for issuing goods . after reading the
particulars of delivery order store in charge in the factory will issue the goods .
One copy of delivery order is send to the accounts department and third one is kept for record.
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Financial Analysis Ratio Analysis
LIQUIDITY ANALYSISI t shows the firm’ abi l i ty to pay its short-term obligation on time.
CURRENT RATIO
2011 2012
1: 0.84times 1: 0.98times
The ratios show that the company’s current l iabi l ities and current assets are almost equal. So the co. is in a position to meet its current l iabi l ities on time.
QUICK OR ACID TEST RATIO
2011 2012
1: 0.59times 1: 0.48times
The company’s quick ratio has increased. So the company is l iquid position is very strong.
ACTIVITY ANALYSISINVENTORY TURNOVER RATIO
2011 2012
4.8times 6.0times
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DEBTOR COLLECTION PERIOD
2011 2012
87days 44days
Company’s credit col lection performance is depended upon L/C by the buyer. So the company’s debtor col lection period mostly depends upon the opening of letter of credit .
CREDITOR’S TURNOVER RATIO
2011 2012
11.50times 12.20times
This ratio shows that the co. is making payment to the creditors within reasonable time period.
FIXED ASSETS TURNOVER RATIO
2011 2012
1.24 times 2.02 times
PROFITABILITY ANALYSISThe efficiency of the firm can be analyzed through its profits.
GROSS PROFIT RATIO
2011 2012
15.59% 15.30%
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Cost of goods sold has remain more or less constant whi le conversion rate of $ is being higher therefore G.P. is very ideal.
NET PROFIT RATIO
2011 2012
1.57% 2.7%
The company’ profit is increasing with the passage of time. It is because of its 90% exports.
OPERATING PROFIT RATIO
2011 2012
10.70% 10.85%
There is l ittle increase in profit of the co. It is because of hir ing of new employees which increases the salar ies of the co.
RETURN ON ASSETS
2011 2012
3.48% 7.49%
Return on assets ratio has increased because of increase in profits.
MARKETABILITY ANALYSISEARNING PER SHARE
2011 2012
Rs.2.67 Rs.2.82
LEVERAGE ANALYSIS
Leverage analysis is used to measure the degree of indebtness (up to what extent the firm is in debtness).
DEBT RATIO
2011 2012
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68.78% 76%
DEBT-EQUITY RATIO
2011 2012
322% 220%
Anmol heavi ly depending on the outsider’s financing.
COVERAGE RATIO ANALYSIS
Coverage ratio is used to see the abi l ity of a firm to pay i ts fixed financial cost. i -e.
Interest payment
Lease payment t
Dividend to preferred stockholders
TIME INTEREST EARNED RATIO
2011 2012
1.36times 1.56times
Anmol is paying interest 1.56times in a year, which is greater than previous years.
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Horizontal Analysis
BALANCE SHEET
COMMON SIZE HORIZONTAL ANALYSIS
ASSETS: 2012 2011
(Rupees )
in %
Non-current assets
Property, Plant and equipment Intangible assetsLong-term investmentLong-term depositsCurrent assetsStores, spares and loose toolsStock-in-tradeTrade debtsLoan and AdvancesTrade deposits and paymentsShort term InvestmentMark-up accruedOther receivablesTax refunds due from governmentCash and bank balances
1,906,640,9871,033,59369,999,5862,421,340
103,050,338772,397,644157,754,493187,188,9851,122,041125,667,5847,088,2618,289,791
45,560,67541,794,462
1,963,229,490-----------69,999,5862,421,340
92,855,401746,643,801229,707,309142,601,9925,804,422523,5467,088,2611,612,193
49,793,06232,572,103
(56,588,503)1,033,593-----------------------
10,194,93725,753,843(71,952,816)44,586,993(4,682,381)125,615,238------------6,677,598
(4,232,387)9,222,359
-2.88100----------
10.983.45-31.3231.267-80.6723993-------414.19
-8.5028.31
Total Current assets 1,449,914,274 1,309,202,090 140,712,184 10.75TOTAL ASSETS 3,430,009,780
85,157,274
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EQUITY AND LIABILITIES:
2012 2011 (Rupees) In %
Share capital and reservesAuthorized Capital 30,000,000 ordinary shares of Rs 10 eachIssued, subs and paid-up capitalReservesUnappropriate profit
Non-current liabilitiesLong term Finance & other CapitalSubordinated loans Deferred liabilities
Current liabilitiesTrade and other payablesInterest and mark-up accruedFinance under markup arrangementCurrent portion of non-current liabilitiesTotal Liabilities and Equity
30,000,000308,109,370395,081,250165,798,067868,988,687
711,913,66863,375,0008,589,216783,877,884
128,588,47856,488,7531,336,646,814
255,419,1641,777,143,209
3,430,009,780
30,000,000246,487,500395,081,250195,501,910837,070,660
988,791,21836,875,00016,238,3271,041,904,545
124,134,60343,259,8761,174,824,009
123,658,8131,465,877,301
3,344,852,506
-------------61,621,870--------------70,296,15731,918,027
(276,877,550)26,500,000(7,649,111)(258,026,661)
4,453,87513,228,877161,822,805
131,760,351311,265,908
85,157,274
---
24.99-------35.963.81
-2871.86-47-24.76
3.5930.5813.77
106.5521.23
2.546
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Profit and Loss Account
Common size Horizontal analysis
2012 2011
(Rupees) in %
Sales
Cost of sales
Gross profit
Other operating income
Administrative expenses
Distribution and sel l ing costs
Other operating expenses
Finance costs
Profit / ( loss) before taxation
Provis ion for taxation
Profit for the year
Earnings per share
3,400,998,361 (3,054,593,695)
346,404,666
39,344,127
(50,282,001)
(49,671,260)
(6,048,989)
(232,381,335)
47,365,208(15,447,181)
31,918,027
1 .04
3,122,414,478 (2,699,848,853)
422,565,625
17,840,572
(48,421,073)
(39,031,369)
(9,584,861)
(199,406,645)
143,962,249(20,433,058)
123,529,191
4 .01
278,583,883354,744,842
(76,160,959)
21,503,555
1,860,928
10,639,891
(3,535,872)
32,974,690
(96,597,041)
(4,985,877)
(91,611,164)
8.92
13.21
-18
120
3.84
27.25
36.89
16.54
-67.10
-24.40
-74.16
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BALANCE SHEETCOMMON SIZE HORIZONTAL ANALYSIS
ASSETS: 2012 2011
(Rupees)
In %
Non-current assetsProperty, Plant and equipment Long-term deposits
Current assetsStores, spares and loose toolsStock-in-tradeTrade debtsLoan and AdvancesTrade deposits and paymentsTax refunds due from governmentOther receivablesShort term InvestmentCash and bank balances
1,963,229,4902,421,3401,965,650,830
92,855,401
746,643,801
229,707,309150,177,167
5,804,422
49,793,062
1,612,193
70,523,132
32,572,103
2,036,092,5372,421,3402,038,513,877
80,312,683
706,726,900
204,540,457286,804,021
3,893,245
60,515,927
3,021,926
------------
8,434,247
(72,863,047)--------------(72,863,047)
12,542,718
39,916,901
25,166,852(136,626,854)
1,911,177
(10,722,865)
(1,409,733)
70,523,132
31,737,856
-3.59--------3.57
15.62
5.65
12.30-47.64
49.08
-17.72
-46.65
100
37.63Total Current assets
1,379,688,590 1,354,249,406 25,439,184 1.88
TOTAL ASSETS 3,345,339,420 3,392,763,283
(47,423,863) -1.398
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Equity and Liabil ities
2012 2011
Share capital and reservesAuthorized Capital 30,000,000 ordinary shares of Rs 10 eachIssued,subs &paid-up capitalReservesUnappropriate profit
Non-current l iabi l itie s Long term Finance & other CapitalDeferred l iabil ities
Current liabilitiesCurrent portion of long term l iabi l itiesFinance under markup arrangementTrade and other payablesInterest and mark-up accrued
Total Liabil ities and Equity
30,000,000246,487,500395,081,250195,501,910837,070,660
1,025,666,21816,238,3271,041,904,545
123,658,8131,174,824,009124,621,517
43,259,876
1,466,364,215
3,345,339,420
30,000,000246,487,500395,081,25096,621,469738,190,219
1,158,062,81118,400,7001,176,463,511
139,361,1401,193,844,369109,756,482
35,147,562
1,478,109,553
3,392,763,283
------------------------98,880,44198,880,441
(132,396,593)(2,162,373)(134,558,966)
(15,702,327)(19,020,360)14,865,035
8,112,314
(31,745,338)
(47,423,863)
In %
------------102.34126.46
-11.43-11.75-11.44
-11.27-1.5913.54
23.08
-2.15
-1.398
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Vertical AnalysisBALANCE SHEET
COMMON SIZE VERTICAL ANALYSIS
ASSETS: 2012 2011
Non-current assetsProperty, Plant and equipment Intangible assetsLong-term investmentLong-term deposits
Current assetsStores, spares and loose toolsStock-in-tradeTrade debtsLoan and AdvancesTrade deposits and short-term paymentsMark-up accrued Other receivables Short term Investment Tax refund due from governmentCash and bank balances
55.59 %0.03 %2.04 %0.07 %
3.00 %22.52 %4.6 %5.46 %0.032 %0.21 %0.241 %3.66 %1.33 %1.22 %
58.69 %--------2.04 %0.07 %
2.78 %22.32 %6.87 %4.26 %0.17 %0.21 %0.048 %0.016 %1.49 %0.97 %
Total Current assets 42.27 % 39.14%
TOTAL ASSETS 100.00% 100.00%
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EQUITY AND LIABILITIES:
Share capital and reservesAuthorized Capital 30,000,000 ordinary shares of Rs 10 eachIssued, subscribed and paid-up capitalReservesUnappropriate profit
Non-current l iabil itiesLong term Finance and other payablesLoan from related parties- subordinated loans Deferred liabilities
Current liabilitiesTrade and other payablesInterest and mark-up accruedFinance under markup arrangementsCurrent portion of non-current liabil ities
Total Liabilities and Equity
2012
8.98 %11.52 %4.83 %25.33 %
20.76 %1.85 %0.25 %
3.75 %1.65 %38.97 %7.45 %51.81 %
100 %
2011
7.37 %11.81 %5.84 %25.03%
29.56 %1.102 %0.48 %
3.71 %1.29 %35.12 %3.7 %43.82 %
100 %
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Profit and Loss AccountCommon size vertical analysis
2012 2011
Sales
Cost of sales
Gross profit
Other operating income
Administrative expenses
Distribution and sel l ing costs
Other operating expenses
Finance costs
Profit / (loss) before taxation
Provision for Taxation
Profit for the year
100 %
(89.81 %)
10.19%
11.57 %
(1.48 %)
(1.46 %)
(0.178 %)
(6.83 %)
1.39 %
(0.45 %)
0.94 %
100 %
(86.47 %)
13.53%
10.57 %
(1.55 %)
(1.25 %)
(0.31 %)
(6.39 %)
4.61 %
(0.65 %)
3.96 %
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LEARNING AS AN INERNEE
It is difficult to write about what I learned at ANMOL Mills Ltd. Because when I entered
within such a big organization, I was bombarded with lot of things at the same time that I
could not realize suddenly. But with the passage of time I got realized that my thinking
style, my punctuality, and my routines are just got better. I became a committed person.
Some of the skills that I have internalized at ANMOL Mills Ltd are discussed below;
Commitment:
I was kept rotated by my instructor to different persons within the department so that I
could get the maximum exposure to their working tasks, their abilities their commitment
to the work. They also assigned sometimes the task of their own to perform and I took
them as my boss is giving me orders and performed them with commitment. So I learnt
the skill that how to be committed to my seniors and to my work.
Teamwork experience:
When I entered the organization I considered myself as a part of team. Large
organizations are built by the teamwork efforts of the individuals. I learnt thee how to
perform tasks within a team, where lots of other people are also connected to you.
MIS learning:
The company has its own management information system developed in java. There were
certain restrictions about using this network. But at certain occasions, employees let me
allowed to perform some minor tasks. And I also I learned how information flows through
different levels within the departments and how can a relevant person use that
information.
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Managerial skills exposure:
I got exposure to other different skills that can be helpful in my future that how to
manage work, relations with officers, putting pressure in subtle ways to get work done in
time. I observed that you can’t be too lenient or too harsh to your employees. A manager
has to make relations to such a level that no feels that my manager is too lousy to control
his personnel nor too harsh to keep atmosphere stressful.
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SUGGESTIONS
During my internship I felt some inadequacies that should be paid attention or modified.
Bonus system:
The proper facility of bonuses is provided to the production department, and there is no
defined and proper system to award bonuses to other departments. Compensation and
reward system should be brought at higher level in order to let the employees be
motivated and happy. There should be more fringe benefits for the employees taking
into consideration their devotion skill and experience.
This higher level would make the employees more efficiency & effective. Therefore my
suggestion is that the bonuses should also be awarded to other departments too.
Employees training:
Although there are educated and talented staff working in ANMOL Mills limited but it is
the need of the hour that the staff should be given the time-to-time refresher courses for
the up to date knowledge for meeting knew and dynamic challenges in the growing
business concern of ANMOL Mills Limited. New training courses will help in uplifting the
quality of the work of employees.
Need of a cafeteria:
As ANMOL is consisting of a large area and there is only is a small canteen that is far away
from office area and is located near plants. So from my point of view a couple of canteens
should be available near office area in order to minimize the distance that will help in
improving the working time of the employees, because less time will be consumed to
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travel from one point to another.
Training program to recruits:
When I was in the Human Resource department, I observed that fresh boys with no
working experience were also hired by the department. They did not even know how
to operate the machines where they will work. There was no proper training provided to
them. They learn by direct experience and interaction with the other workers.
These new workers should be provided with the proper training because working with
the big and costly machines can be harmful to the workers and the company may have to
bear the loss in case a costly machine malfunctions.
Compensation for the internees:
The company has no policy to compensate the internees. There should be little
compensation for trainees as well, as they can fulfill their day to day traveling and food
expenses. By doing this trainees will show more interest, more devotion, more potentials
and will work with their full mental and physical efforts.
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