Income Statement Pakistan Petroleum Limited

Equities

PPL

PK0081801018

Oil & Gas Exploration and Production

End-of-day quote Pakistan S.E. Other stock markets 2024-09-13			5-day change	1st Jan Change
114.59 ^PKR	+1.04%		+1.91%	-0.38%

Sep. 02	Pakistan Petroleum Limited Announces Resignation of Awais Manzur Sumra as Director	CI
Apr. 29	Pakistan Petroleum Limited Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024	CI

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Published financial data: PAKISTAN PETROLEUM LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: June	2019	2020	2021	2022	2023
Revenues	164B	158B	149B	204B	288B
Total Revenues	164B	158B	149B	204B	288B
Cost of Goods Sold, Total	64.91B	67.05B	62.99B	71.38B	96.2B
Gross Profit	99.45B	90.95B	86.29B	132B	192B
Selling General & Admin Expenses, Total	2.26B	3.09B	3.79B	4.68B	3.99B
Exploration / Drilling Costs, Total	27.21B	17.95B	10.63B	24.82B	22.39B
Provision for Bad Debts	-	-	-692M	-41.93M	-
Impairment of Oil, Gas & Mineral Properties - (IS)	-	-	-	-	-
Other Operating Expenses	7.79B	6.81B	6.91B	15.26B	16.03B
Other Operating Expenses, Total	37.26B	27.85B	20.63B	44.72B	42.41B
Operating Income	62.2B	63.09B	65.66B	87.71B	149B
Interest Expense, Total	-13.74M	-6.41M	-957K	-39.34M	-210M
Interest And Investment Income	3.46B	3.83B	3.81B	6.75B	11.8B
Net Interest Expenses	3.44B	3.83B	3.81B	6.71B	11.59B
Income (Loss) On Equity Invest.	-	-	-	-2.61B	-683M
Currency Exchange Gains (Loss)	11.24B	529M	-1.27B	6.87B	5.43B
Other Non Operating Income (Expenses)	916M	2.17B	133M	131M	-12.64M
EBT, Excl. Unusual Items	77.79B	69.62B	68.33B	98.81B	166B
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	-	-
Gain (Loss) On Sale Of Assets	19.56M	18.14M	27.23M	79.58M	99.04M
Asset Writedown	-	-	-	-	-994M
Insurance Settlements	24.66M	-	84.12M	44.08M	37.85M
EBT, Incl. Unusual Items	77.84B	69.64B	68.44B	98.94B	165B
Income Tax Expense	18.38B	20.22B	16.15B	44.58B	67.69B
Earnings From Continuing Operations	59.46B	49.42B	52.28B	54.35B	97.22B
Net Income to Company	59.46B	49.42B	52.28B	54.35B	97.22B
Net Income - (IS)	59.46B	49.42B	52.28B	54.35B	97.22B
Preferred Dividend and Other Adjustments	34K	35K	34K	32K	31K
Net Income to Common Incl Extra Items	59.46B	49.42B	52.28B	54.35B	97.22B
Net Income to Common Excl. Extra Items	59.46B	49.42B	52.28B	54.35B	97.22B
Per Share Items
Net EPS - Basic	21.85	18.16	19.21	19.98	35.73
Basic EPS - Continuing Operations	21.85	18.16	19.21	19.98	35.73
Basic Weighted Average Shares Outstanding	2.72B	2.72B	2.72B	2.72B	2.72B
Net EPS - Diluted	21.85	18.16	19.21	19.98	35.73
Diluted EPS - Continuing Operations	21.85	18.16	19.21	19.98	35.73
Diluted Weighted Average Shares Outstanding	2.72B	2.72B	2.72B	2.72B	2.72B
Normalized Basic EPS	17.87	15.99	15.69	22.7	38.08
Normalized Diluted EPS	17.87	15.99	15.69	22.7	38.08
Dividend Per Share	1.67	1	3.5	2	2.5
Payout Ratio	5.03	9.18	12.59	16.64	3.99
American Depositary Receipts Ratio (ADR)	10	10	10	10	10
Supplemental Items
EBITDA	83.03B	84.23B	83.75B	105B	170B
EBITA	62.2B	63.09B	65.66B	87.71B	149B
EBIT	62.2B	63.09B	65.66B	87.71B	149B
Effective Tax Rate - (Ratio)	23.61	29.03	23.6	45.06	41.05
Current Domestic Taxes	19.44B	20.83B	22.85B	45.63B	70.92B
Total Current Taxes	19.44B	20.83B	22.85B	45.63B	70.92B
Deferred Domestic Taxes	-1.06B	-610M	-6.69B	-1.05B	-3.23B
Total Deferred Taxes	-1.06B	-610M	-6.69B	-1.05B	-3.23B
Normalized Net Income	48.62B	43.52B	42.7B	61.76B	104B
Interest on Long-Term Debt	35.99M	4.67M	864K	38.09M	210M
Non-Cash Pension Expense	191M	672M	50.55M	85.22M	130M
Supplemental Operating Expense Items
Advertising Expense	46.51M	68.14M	-	-	-
Selling and Marketing Expenses	46.51M	68.14M	-	-	-
General and Administrative Expenses	2.21B	3.02B	3.79B	4.68B	3.99B
Exploration/Drilling Costs	8.21B	6.47B	4.41B	7.14B	15.71B
Maintenance & Repair Expenses, Total	-	-	-	-	-

Fiscal Period: June	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	8.56B	6.53B	4.75B	5.43B	6.3B
Short Term Investments	12.1B	9.7B	69.79B	69.63B	56.17B
Trading Asset Securities, Total	4.02B	10.36B	17.61B	-	11.48B
Total Cash And Short Term Investments	24.68B	26.59B	92.15B	75.06B	73.95B
Accounts Receivable, Total	228B	312B	283B	366B	513B
Other Receivables	2.57B	3.37B	2.37B	2.38B	3.85B
Notes Receivable	80.22M	132M	84.46M	110M	126M
Total Receivables	230B	316B	285B	369B	517B
Inventory	3.15B	4.06B	4.57B	5.5B	5.93B
Prepaid Expenses	375M	410M	191M	211M	408M
Other Current Assets, Total	3.26B	2.82B	3.61B	3.13B	2.94B
Total Current Assets	262B	350B	386B	453B	601B
Gross Property Plant And Equipment	282B	302B	308B	316B	335B
Accumulated Depreciation	-121B	-142B	-160B	-177B	-197B
Net Property Plant And Equipment	161B	160B	147B	140B	138B
Long-term Investments	39.19B	33.49B	4.19B	2.18B	55.57B
Goodwill	-	-	-	-	-
Other Intangibles, Total	481M	338M	211M	113M	56.18M
Loans Receivable Long-Term	34.02M	41.72M	53.16M	61.69M	71.68M
Other Long-Term Assets, Total	91.49M	49.58M	7.68M	34.11B	7.68M
Total Assets	463B	544B	538B	629B	794B
Liabilities
Accounts Payable, Total	859M	1.03B	799M	861M	1.12B
Accrued Expenses, Total	65.04B	90.45B	53.63B	55.35B	69.15B
Current Portion of Leases	56.03M	19.36M	433K	1.43B	1.13B
Current Income Taxes Payable	7.16B	15.28B	20.61B	36.57B	66.54B
Other Current Liabilities	26.22B	26.14B	13.31B	34.46B	43.2B
Total Current Liabilities	99.34B	133B	88.35B	129B	181B
Long-Term Leases	12.11M	414K	-	-	-
Pension & Other Post Retirement Benefits	2.75B	2.84B	3.08B	3.33B	3.61B
Deferred Tax Liability Non Current	37.13B	36.52B	29.83B	28.78B	26.08B
Other Non Current Liabilities	25.16B	28.07B	27.32B	33.2B	42.76B
Total Liabilities	164B	200B	149B	194B	254B
Preferred Stock Convertible	108K	118K	113K	106K	104K
Total Preferred Equity	108K	118K	113K	106K	104K
Common Stock, Total	22.67B	27.21B	27.21B	27.21B	27.21B
Retained Earnings	271B	312B	358B	402B	493B
Comprehensive Income and Other	4.09B	4.04B	3.88B	5.12B	21.12B
Total Common Equity	298B	343B	389B	435B	541B
Total Equity	298B	343B	389B	435B	541B
Total Liabilities And Equity	463B	544B	538B	629B	794B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.72B	2.72B	2.72B	2.72B	2.72B
ECS Total Common Shares Outstanding	2.72B	2.72B	2.72B	2.72B	2.72B
Book Value / Share	109.59	126.17	142.94	159.76	198.78
Tangible Book Value	298B	343B	389B	435B	541B
Tangible Book Value Per Share	109.42	126.05	142.86	159.72	198.76
Total Debt	68.14M	19.78M	433K	1.43B	1.13B
Net Debt	-24.61B	-26.57B	-92.15B	-73.63B	-72.83B
Debt Equivalent of Unfunded Proj. Benefit Obligation	823M	620M	864M	1.04B	3.58B
Equity Method Investments, Total	-	-	-	2.18B	55.57B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Others	3.46B	4.51B	5B	5.77B	6.25B
Land - (BS)	1.52B	1.51B	1.44B	1.45B	1.45B
Buildings, Total	2.83B	2.88B	2.99B	3.07B	3.16B
Machinery, Total	82.86B	87.8B	94.63B	96.85B	99.36B
Full Time Employees	2.76K	2.69K	2.61K	2.57K	2.52K
Assets under Capital Lease - Gross	638M	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-584M	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	1.16B	1.16B	464M	422M	422M

Fiscal Period: June	2019	2020	2021	2022	2023
Net Income	59.46B	49.42B	52.28B	54.35B	97.22B
Depreciation & Amortization - CF	20.84B	21.17B	18.1B	17.19B	20.76B
Impairment of Oil, Gas & Mineral Properties - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	20.84B	21.17B	18.1B	17.19B	20.76B
Other Operating Activities, Total	-38.29B	-40.36B	-16.94B	-29.78B	-106B
Cash from Operations	42B	30.24B	53.44B	41.76B	11.9B
Capital Expenditure	-45.04B	-33.05B	-14.19B	-22.97B	-18.14B
Sale of Property, Plant, and Equipment	24.2M	21.84M	33.86M	82.22M	424K
Investment in Marketable and Equity Securities, Total	-9.16B	-4.51B	13.31B	-51.83B	14.58B
Other Investing Activities, Total	2.9B	3.67B	3.79B	5.78B	10.28B
Cash from Investing	-51.28B	-33.87B	2.94B	-68.94B	6.72B
Long-Term Debt Repaid, Total	-74.62M	-48.36M	-19.34M	-53.55M	-332M
Total Debt Repaid	-74.62M	-48.36M	-19.34M	-53.55M	-332M
Common Dividends Paid	-	-	-	-	-
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-2.99B	-4.54B	-6.58B	-9.04B	-3.88B
Common & Preferred Stock Dividends Paid	-2.99B	-4.54B	-6.58B	-9.04B	-3.88B
Cash from Financing	-3.06B	-4.59B	-6.6B	-9.1B	-4.21B
Foreign Exchange Rate Adjustments	2.37B	-85.55M	-206M	720M	1.64B
Net Change in Cash	-9.97B	-8.31B	49.57B	-35.55B	16.05B
Supplemental Items
Cash Interest Paid	13.74M	6.41M	957K	39.28M	210M
Cash Income Tax Paid (Refund)	15.05B	12.75B	17.48B	29.84B	41.2B
Levered Free Cash Flow	-37.52B	-25.02B	30.14B	3.82B	-514M
Unlevered Free Cash Flow	-37.51B	-25.02B	30.14B	3.85B	-382M
Change In Net Working Capital	52.18B	52.57B	14.8B	45.19B	96.4B
Net Debt Issued / Repaid	-74.62M	-48.36M	-19.34M	-53.55M	-332M

Fiscal Period: June	2019	2020	2021	2022	2023
Profitability
Return on Assets	9.34	7.84	7.95	9.4	13.13
Return on Total Capital	14.43	12.29	11.21	13.29	19.1
Return On Equity %	22.08	15.41	14.28	13.2	19.93
Return on Common Equity	22.08	15.41	14.28	13.2	19.93
Margin Analysis
Gross Profit Margin %	60.51	57.56	57.81	64.98	66.6
SG&A Margin	1.37	1.95	2.54	2.29	1.39
EBITDA Margin %	50.52	53.31	56.1	51.41	58.92
EBITA Margin %	37.84	39.93	43.98	43.04	51.88
EBIT Margin %	37.84	39.93	43.98	43.04	51.88
Income From Continuing Operations Margin %	36.17	31.28	35.02	26.67	33.75
Net Income Margin %	36.17	31.28	35.02	26.67	33.75
Net Avail. For Common Margin %	36.17	31.28	35.02	26.67	33.75
Normalized Net Income Margin	29.58	27.54	28.61	30.3	35.97
Levered Free Cash Flow Margin	-22.83	-15.84	20.19	1.88	-0.18
Unlevered Free Cash Flow Margin	-22.82	-15.83	20.19	1.89	-0.13
Asset Turnover
Asset Turnover	0.39	0.31	0.29	0.35	0.4
Fixed Assets Turnover	1.04	0.98	0.97	1.42	2.08
Receivables Turnover (Average Receivables)	0.89	0.59	0.55	0.63	0.65
Inventory Turnover (Average Inventory)	19.45	18.61	14.6	14.19	16.84
Short Term Liquidity
Current Ratio	2.63	2.63	4.37	3.52	3.32
Quick Ratio	2.57	2.58	4.27	3.45	3.26
Operating Cash Flow to Current Liabilities	0.42	0.23	0.6	0.32	0.07
Days Sales Outstanding (Average Receivables)	411.33	625.53	668.6	581.07	557.37
Days Outstanding Inventory (Average Inventory)	18.77	19.67	25	25.73	21.67
Average Days Payable Outstanding	6.31	5.08	5.11	4.19	3.74
Cash Conversion Cycle (Average Days)	423.79	640.13	688.49	602.61	575.31
Long Term Solvency
Total Debt/Equity	0.02	0.01	0	0.33	0.21
Total Debt / Total Capital	0.02	0.01	0	0.33	0.21
LT Debt/Equity	0	0	-	-	-
Long-Term Debt / Total Capital	0	0	-	-	-
Total Liabilities / Total Assets	35.54	36.85	27.64	30.85	31.92
EBIT / Interest Expense	4.53K	9.85K	68.61K	2.23K	710.63
EBITDA / Interest Expense	6.05K	13.15K	87.52K	2.67K	809.35
(EBITDA - Capex) / Interest Expense	2.77K	7.99K	72.69K	2.08K	723.08
Total Debt / EBITDA	0	0	0	0.01	0.01
Net Debt / EBITDA	-0.3	-0.32	-1.1	-0.7	-0.43
Total Debt / (EBITDA - Capex)	0	0	0	0.02	0.01
Net Debt / (EBITDA - Capex)