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MFFL FINANCIAL STATEMENT
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STATEMENT OF FINANCIAL POSITION
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YEARS20162017201820192020
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EQUITY AND LIABILITIES
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CAPITAL AND RESERVES
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Authorised capital 20,000,000 (2015: 20,000,000)
ordinary shares of Rs 10 each		200,000,000200,000,000200,000,000200,000,000200,000,000
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Issued, subscribed and paid up capital 7,875,000 (2015: 7,875,000)
ordinary shares of Rs 10 each		78,750,00078,750,00078,750,00078,750,00078,750,000
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Reserves9,635,8789,635,8789,635,8789,635,8789,635,878
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Unappropriated profit452,535,627413,102,822120,913,52038,058,691-14,076,101
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540,921,505501,488,700209,299,398126,444,56974,309,777
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NON-CURRENT LIABILITIES
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Deferred taxation53,890,46446,541,4333,144,5300
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Deferred liabilities95,129,885114,902,440116,585,222134,123,077134,230,460
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Long term finance - secured0000
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149,020,349161,443,873119,729,752134,123,077134,230,460
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CURRENT LIABILITIES
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Current portion of long term finance - secured
106,666,66564,000,00021,333,3330
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Finances under markup arrangements - secured
486,101,770610,222,175680,657,933655,331,857560,615,531
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Creditors, accrued and other liabilities126,610,548217,607,324298,120,361255,324,377399,806,286
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Loans from Directors unsecured150,000,000150,000,000200,000,000
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Accrued finance cost5,679,3099,811,76412,163,86220,265,6949,653,040
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Unclaimed Dividend2,004,1832,004,1832,004,183
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725,058,292901,641,2631,164,279,6721,082,926,1111,172,079,040
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CONTINGENCIES AND COMMITMENTS0
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Total current Liabilities and equities
1,415,000,1461,564,573,8361,493,308,8221,343,493,7571,380,619,277
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ASSETS
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NON-CURRENT ASSETS
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Property, plant and equipment668,991,855674,669,376645,288,320595,452,993572,845,202
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Intangible assets2,076,7002,923,3092,379,9474,263,9573,843,833
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Biological assets8,205,00018,783,00038,931,66732,385,66731,954,123
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Long term receivables1,974,7807,037,8309,693,9306,689,4805,705,010
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681,248,335703,413,515696,293,864638,792,097614,348,168
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CURRENT ASSETS
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Stores, spares and loose tools26,879,43727,458,35836,064,85353,481,58437,342,809
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Stock in trade376,429,996413,163,837461,616,862277,274,045335,418,696
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Trade debts119,516,939207,631,98263,720,363132,933,635138,824,036
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Advances, deposits, prepayments and other receivables
30,636,20339,452,60567,267,26967,977,88766,878,401
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Income tax recoverable160,602,743158,213,459155,234,531154,247,173152,414,931
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Cash and bank balances19,686,49315,240,08013,111,08018,787,33635,392,236
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733,751,811861,160,321797,014,958704,701,660766,271,109
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Total current Assets1,415,000,1461,564,573,8361,493,308,8221,343,493,7571,380,619,277
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Statement of comprehensive Income
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20162,0172,0182,0192,020
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Sales 1,679,461,9461,891,250,7321,68,007,9641,98,552,0952,112,492,576
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Cost of sales -1,286,380,012-1,434,873,552-1,375,118,880-1,553,138,999-1,670,069,764
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Gross profit 393,081,934456,377,180252,889,084434,413,096442,422,812
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Administrative expenses -103,908,093-119,972,475-136,106,248-135,252,097-150,668,678
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Distribution and marketing expenses -261,060,067-317,443,774-407,866,503-282,634,196-253,637,474
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Other operating expenses -2,167,460-1,350,154-2,550,610-5,341,413-3,262,518
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Other operating income 19,067,13913,464,78425,480,03315,592,07512,162,020
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Profit from operations 45,013,45331,075,561
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Finance cost -42,919,936-42,187,491-49,244,154-78,300,349-74,272,355
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Profit/Loss before tax2,093,517-11,111,930-317,418,398-51,522,884-27,256,193
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Taxation -14,201,881-19,771,65024,799,334-28,482,629-28,189,242
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(Loss) / profit for the year -12,108,364-30,883,580-292,619,064-80,005,513-55,445,435
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(Loss) / earnings per share - Basic and diluted
-1.54-4-37-10-7
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RATIOS
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Liquidity Rtaios
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Net Working Capital8,693,519-40,480,942-367,264,714-378,224,451-405,807,931
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Years20162017201820192020
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Industrial current ratio 1.01 0.96 0.68 0.65 0.65
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MFFL Current Ratio1.01200.95510.68460.65070.6538
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Competitor current ratio11121
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years20162017201820192020
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Industrial Quick atio 0.19 0.25 0.07 0.14 0.15
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MFFL Quick Ratio0.49280.49690.28810.39470.3676
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Competitor quick ratio1.00002.00001.00001.00001.0000
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years20162017201820192020
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Industrial Cash ratio 0.03 0.02 0.01 0.02 0.03
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MFFL Cash Ratio0.02720.01690.01130.01730.0302
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Competitor cash ratio0.00001.00000.00000.00000.0000
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Years20162017201820192020
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years20162017201820192020
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Total account receivable 150,153,142247,084,587130,987,632200,911,522205,702,437
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Average account receivable198618864.5189036109.5165949577203306979.5
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years20162017201820192020
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Industrial Receivable turnover 77.62 192.35 118.40 212.48 902.58
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Account Receivable turnover1.045378960.33708037670.8010483510.6828296615
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Competitor receiable turnover0211
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Account receivable period3491,083456535
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years20162017201820192020
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Account Payable turnover
85
Credit Puchases66,585,310167,452,766225,125,882134,626,691224,476,427
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Average Account payable172108936257863842.5276722369327565331.5
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years2,0162017201820192020
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Industrial A/P turnover 21.36 12.66 17.00 17.69 9.63
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MFFL A/P turnover0.97294637860.8730416790.48650454780.6852874997
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Competitor A/P turnover00212
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Account payable period375.1491429418.0785509750.249924532.6231694
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years2,0162017201820192020
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Inventory Turnover
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Average inventory394796916.5437390349.5369445453.5306346370.5
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Years20162017201820192020
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Industrial Inventory turnover 4.46 4.59 3.53 7.17 6.30
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MFFL Inventory turnover-3.63-3.14-4.20-5.45
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Competitor inventory turnover-2.14-5.22-3.19-2.68-2.18
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Inventory Period-100.43-116.10-86.82-66.95
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years20162017201820192020