Cash flow Highnoon Laboratories Limited

Equities

HINOON

PK0070701013

Pharmaceuticals

End-of-day quote Pakistan S.E. Other stock markets 2024-09-13			5-day change	1st Jan Change
695.43 ^PKR	+0.17%		-0.49%	+37.83%

Aug. 29	Highnoon Laboratories Limited Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024	CI
Jul. 22	Highnoon Laboratories Limited Announces Executive Changes	CI

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Published financial data: HIGHNOON LABORATORIES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	9.05B	10.7B	13B	15.82B	19.77B
Total Revenues	9.05B	10.7B	13B	15.82B	19.77B
Cost of Goods Sold, Total	4.82B	5.46B	6.47B	7.63B	10.37B
Gross Profit	4.23B	5.24B	6.53B	8.19B	9.4B
Selling General & Admin Expenses, Total	2.78B	3.12B	3.99B	4.65B	5.72B
R&D Expenses	5.01M	6.38M	8.67M	10.63M	15.02M
Other Operating Expenses	124M	177M	219M	321M	286M
Other Operating Expenses, Total	2.91B	3.31B	4.21B	4.98B	6.02B
Operating Income	1.32B	1.94B	2.31B	3.21B	3.38B
Interest Expense, Total	-29.79M	-25.73M	-27.44M	-57.07M	-149M
Interest And Investment Income	52.39M	60.74M	133M	234M	99.43M
Net Interest Expenses	22.6M	35.01M	105M	177M	-49.78M
Currency Exchange Gains (Loss)	-61.98K	-8.24M	2.52M	-7.15M	-46.41M
Other Non Operating Income (Expenses)	3.25M	-1.57M	-2.42M	38.79M	45.33M
EBT, Excl. Unusual Items	1.35B	1.96B	2.42B	3.42B	3.33B
Gain (Loss) On Sale Of Investments	-	4.87M	10.59M	9.25M	18.38M
Gain (Loss) On Sale Of Assets	22.14M	32.07M	6.75M	18.17M	13.82M
Asset Writedown	-	-	-	-	-
EBT, Incl. Unusual Items	1.37B	2B	2.44B	3.45B	3.36B
Income Tax Expense	368M	525M	579M	972M	912M
Earnings From Continuing Operations	1B	1.47B	1.86B	2.47B	2.45B
Net Income to Company	1B	1.47B	1.86B	2.47B	2.45B
Minority Interest	-	-	-	-	-
Net Income - (IS)	1B	1.47B	1.86B	2.47B	2.45B
Net Income to Common Incl Extra Items	1B	1.47B	1.86B	2.47B	2.45B
Net Income to Common Excl. Extra Items	1B	1.47B	1.86B	2.47B	2.45B
Per Share Items
Net EPS - Basic	18.89	27.82	35.04	46.67	46.2
Basic EPS - Continuing Operations	18.89	27.82	35.04	46.67	46.2
Basic Weighted Average Shares Outstanding	52.98M	52.98M	52.98M	52.98M	52.98M
Net EPS - Diluted	18.89	27.82	35.04	46.67	46.2
Diluted EPS - Continuing Operations	18.89	27.82	35.04	46.67	46.2
Diluted Weighted Average Shares Outstanding	52.98M	52.98M	52.98M	52.98M	52.98M
Normalized Basic EPS	15.89	23.14	28.53	40.32	39.25
Normalized Diluted EPS	15.89	23.14	28.53	40.32	39.25
Dividend Per Share	7.72	9.8	14.37	15.81	30
Payout Ratio	36.17	26.81	26.9	26.83	30.65
Supplemental Items
EBITDA	1.44B	2.07B	2.48B	3.39B	3.58B
EBITA	1.32B	1.94B	2.31B	3.21B	3.38B
EBIT	1.32B	1.94B	2.31B	3.21B	3.38B
EBITDAR	1.45B	2.07B	2.51B	3.4B	3.63B
Effective Tax Rate - (Ratio)	26.9	26.27	23.78	28.23	27.14
Current Domestic Taxes	404M	529M	-	-	-
Total Current Taxes	404M	529M	583M	960M	905M
Deferred Domestic Taxes	-35.59M	-3.48M	-	-	-
Total Deferred Taxes	-35.59M	-3.48M	-3.35M	12.8M	6.31M
Normalized Net Income	842M	1.23B	1.51B	2.14B	2.08B
Interest on Long-Term Debt	16.54M	14.23M	24.62M	33.65M	55.97M
Non-Cash Pension Expense	44.02M	45.16M	47.43M	60.18M	72.2M
Supplemental Operating Expense Items
Marketing Expenses	54.5M	68.63M	80.85M	69.91M	108M
Selling and Marketing Expenses	2.38B	2.64B	3.42B	3.98B	4.94B
General and Administrative Expenses	388M	476M	569M	661M	774M
Research And Development Expense From Footnotes	5.01M	6.38M	8.67M	10.63M	15.02M
Net Rental Expense, Total	11.77M	4.33M	30.42M	7.4M	48.99M
Imputed Operating Lease Interest Expense	17.89M	2.57M	14.61M	5.82M	51.05M
Imputed Operating Lease Depreciation	-6.12M	1.75M	15.82M	1.59M	-2.06M
Maintenance & Repair Expenses, Total	5.16M	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	859M	858M	817M	433M	213M
Trading Asset Securities, Total	-	1.09B	2.06B	1.19B	2.17B
Total Cash And Short Term Investments	859M	1.95B	2.88B	1.63B	2.38B
Accounts Receivable, Total	391M	323M	582M	1.33B	2.17B
Other Receivables	6.05M	55.21M	52.57M	489M	456M
Total Receivables	397M	378M	635M	1.82B	2.62B
Inventory	1.83B	2.18B	2.45B	4.01B	5.19B
Prepaid Expenses	12.83M	17.46M	22.53M	49.95M	33.85M
Other Current Assets, Total	169M	250M	354M	928M	318M
Total Current Assets	3.27B	4.78B	6.34B	8.43B	10.55B
Gross Property Plant And Equipment	2.78B	3.41B	3.52B	4.23B	6.71B
Accumulated Depreciation	-1.39B	-1.63B	-1.7B	-1.84B	-2.63B
Net Property Plant And Equipment	1.38B	1.78B	1.82B	2.39B	4.08B
Goodwill	834K	834K	834K	834K	834K
Other Intangibles, Total	1.41M	922K	21.62M	35.84M	32.29M
Deferred Tax Assets Long-Term	28.36M	28.9M	37.25M	4.89M	-
Other Long-Term Assets, Total	49.83M	51.6M	56.03M	87M	81.39M
Total Assets	4.73B	6.64B	8.28B	10.96B	14.74B
Liabilities
Accounts Payable, Total	336M	182M	263M	685M	909M
Accrued Expenses, Total	171M	282M	573M	734M	1.02B
Short-term Borrowings	36.44M	32.21M	46.62M	512M	260M
Current Portion of Long-Term Debt	25.33M	185M	179M	2.57M	66.4M
Current Portion of Leases	10.67M	17.9M	29.75M	74.08M	274M
Current Income Taxes Payable	23.89M	298M	297M	125M	-
Unearned Revenue Current, Total	36.14M	95.92M	70.07M	108M	85.66M
Other Current Liabilities	117M	87.17M	227M	306M	454M
Total Current Liabilities	757M	1.18B	1.68B	2.55B	3.07B
Long-Term Debt	19M	175M	-	15.44M	648M
Long-Term Leases	61.21M	130M	120M	184M	255M
Unearned Revenue Non Current	28.99M	38.67M	10.24M	30.68M	4.74M
Pension & Other Post Retirement Benefits	418M	525M	547M	525M	524M
Deferred Tax Liability Non Current	-	-	-	-	202M
Other Non Current Liabilities	-	2	-	-	-
Total Liabilities	1.28B	2.05B	2.36B	3.3B	4.71B
Common Stock, Total	315M	346M	381M	419M	530M
Retained Earnings	2.78B	3.79B	5.1B	6.83B	8.38B
Comprehensive Income and Other	356M	461M	436M	410M	1.13B
Total Common Equity	3.45B	4.59B	5.92B	7.66B	10.04B
Minority Interest	-	-	-	-	-
Total Equity	3.45B	4.59B	5.92B	7.66B	10.04B
Total Liabilities And Equity	4.73B	6.64B	8.28B	10.96B	14.74B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	52.98M	52.98M	52.98M	52.98M	52.98M
ECS Total Common Shares Outstanding	52.98M	52.98M	52.98M	52.98M	52.98M
Book Value / Share	65.07	86.67	111.68	144.48	189.41
Tangible Book Value	3.45B	4.59B	5.89B	7.62B	10B
Tangible Book Value Per Share	65.03	86.64	111.25	143.79	188.79
Total Debt	153M	540M	375M	788M	1.5B
Net Debt	-706M	-1.41B	-2.5B	-838M	-878M
Debt Equivalent of Unfunded Proj. Benefit Obligation	418M	525M	547M	525M	524M
Debt Equivalent Oper. Leases	94.16M	34.6M	243M	59.24M	392M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	1.09B	1.55B	1.79B	2.65B	3.82B
Inventories - Work In Process, Total	179M	149M	253M	294M	279M
Inventories - Finished Goods, Total	584M	533M	423M	1.19B	961M
Inventories - Others	-	-	11.66M	11.21M	75.97M
Land - (BS)	275M	338M	338M	338M	764M
Buildings, Total	588M	794M	799M	893M	1.26B
Machinery, Total	1.71B	2.01B	2.15B	2.08B	3.22B
Full Time Employees	1.82K	2.19K	2.32K	2.38K	2.3K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	8.06M	17.3M	22.37M	52.09M	22.37M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1B	1.47B	1.86B	2.47B	2.45B
Depreciation & Amortization - CF	145M	155M	197M	216M	266M
Amortization of Goodwill and Intangible Assets - (CF)	484K	486K	486K	436K	-
Depreciation & Amortization, Total	145M	156M	197M	216M	266M
Amortization of Deferred Charges, Total - (CF)	-	-	-	1.74M	8.04M
(Gain) Loss From Sale Of Asset	-22.14M	-32.07M	-6.75M	-18.17M	-13.82M
(Gain) Loss on Sale of Investments - (CF)	-	-	-11.19M	-10.19M	-21.96M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Provision for Credit Losses	5.45M	-	930K	-473K	-
Provision and Write-off of Bad Debts	-	9.23M	16.09M	29.71M	-29.71M
Other Operating Activities, Total	8.13M	390M	-103M	-108M	168M
Change In Accounts Receivable	-115M	51.13M	-275M	-693M	-847M
Change In Inventories	-481M	-398M	-294M	-1.6B	-1.03B
Change In Accounts Payable	248M	-54.32M	258M	299M	250M
Change in Unearned Revenues	-	-	-43.6M	39.01M	12.34M
Change In Income Taxes	4.62M	-15.89M	-9.93M	-427M	78.3M
Change in Other Net Operating Assets	-71.59M	-120M	123M	-604M	404M
Cash from Operations	722M	1.46B	1.71B	-402M	1.69B
Capital Expenditure	-265M	-367M	-278M	-835M	-788M
Sale of Property, Plant, and Equipment	96.3M	87.14M	52.94M	214M	191M
Cash Acquisitions	-	-	-	-	-
Sale (Purchase) of Intangible assets	-120K	-	-20.7M	-16.38M	-4.49M
Investment in Marketable and Equity Securities, Total	-	-1.09B	-955M	876M	-808M
Other Investing Activities, Total	-5.52M	-1.77M	141M	201M	99.97M
Cash from Investing	-174M	-1.38B	-1.06B	441M	-1.31B
Short Term Debt Issued, Total	14.43M	-	14.41M	465M	-
Long-Term Debt Issued, Total	-	367M	-	26.3M	700M
Total Debt Issued	14.43M	367M	14.41M	491M	700M
Short Term Debt Repaid, Total	-	-4.23M	-	-	-
Long-Term Debt Repaid, Total	-122M	-52.67M	-211M	-255M	-172M
Total Debt Repaid	-122M	-56.9M	-211M	-255M	-172M
Common Dividends Paid	-362M	-395M	-499M	-664M	-750M
Common & Preferred Stock Dividends Paid	-362M	-395M	-499M	-664M	-750M
Other Financing Activities, Total	-	-	-	-	-
Cash from Financing	-470M	-84.97M	-696M	-427M	-222M
Foreign Exchange Rate Adjustments	-	-	1.26M	4.94M	13.59M
Net Change in Cash	78.29M	-896K	-46.07M	-384M	177M
Supplemental Items
Cash Interest Paid	34.81M	31.94M	32.32M	33.22M	153M
Cash Income Tax Paid (Refund)	403M	248M	584M	1.04B	1.09B
Levered Free Cash Flow	307M	823M	1.17B	-1.48B	634M
Unlevered Free Cash Flow	325M	839M	1.19B	-1.44B	728M
Change In Net Working Capital	381M	160M	155M	2.82B	865M
Net Debt Issued / Repaid	-108M	310M	-197M	236M	528M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	19.24	21.29	19.11	20.74	16.43
Return on Total Capital	24.98	27.72	25.31	27.23	21.13
Return On Equity %	31.79	36.66	35.33	36.44	27.67
Return on Common Equity	31.79	36.66	35.33	36.44	27.67
Margin Analysis
Gross Profit Margin %	46.72	49	50.2	51.79	47.55
SG&A Margin	30.7	29.19	30.65	29.4	28.94
EBITDA Margin %	15.86	19.31	19.08	21.45	18.09
EBITA Margin %	14.6	18.11	17.8	20.29	17.09
EBIT Margin %	14.6	18.1	17.79	20.29	17.09
Income From Continuing Operations Margin %	11.06	13.78	14.28	15.63	12.38
Net Income Margin %	11.06	13.78	14.28	15.63	12.38
Net Avail. For Common Margin %	11.06	13.78	14.28	15.63	12.38
Normalized Net Income Margin	9.3	11.46	11.63	13.51	10.52
Levered Free Cash Flow Margin	3.39	7.69	9.02	-9.36	3.21
Unlevered Free Cash Flow Margin	3.6	7.84	9.15	-9.13	3.68
Asset Turnover
Asset Turnover	2.11	1.88	1.72	1.64	1.54
Fixed Assets Turnover	6.86	6.77	7.23	7.5	6.1
Receivables Turnover (Average Receivables)	26.9	29.98	28.73	15.62	11.3
Inventory Turnover (Average Inventory)