Unilever Pakistan Limited
Statement of Profit or Loss
For the year ended 31 December 2023
2022 2021
Sales 28,309,317 19,820,946
Cost of sales (16,359,841) (10,904,750)
Gross Profit 11,949,476 8,916,196
Distribution cost (3,702,303) (2,840,376)
Administrative expenses (556,120) (486,020)
Operating Profit 7,691,053 5,589,800
Other operating expenses (564,935) (371,223)
Other income 1,380,154 283,410
EBIT 8,506,272 5,501,987
Finance cost (139,905) (79,151)
EBT 8,366,367 5,422,836
Taxation (413,964) (253,359)
Net Income 7,952,403 5,169,477
Unilever Pakistan Limited
Statement of Financial Position
As as 31 December 2023
in 000'
2022 2021
ASSETS
Non-current assets
Property, plant and equipment 6,201,699 4,053,993
Right-of-use asset 25,029 46,511
Intangible assets 81,637 81,637
Long term deposits 2,980 2,980
Long term loans and advances - 1,144
Total non-current assets 6,311,345 4,186,265
Current assets
Stores and spares 197,796 196,537
Stock-in-trade 2,918,231 1,327,888
Trade debts-net 1,029,752 519,372
Loans and advances 26,175 3,531
Trade deposits and short-term prepayments 212,553 82,055
Other receivables 239,536 96,045
Sales tax refubndable-net 775,332 142,810
Taxation-net 552,969 536,557
Short term investments 5,771,861 -
Cash and bank balances 2,581,565 3,297,755
Total current assets 14,305,770 6,202,550
Total assets 20,617,115 10,388,815
EQUITY AND LIABILITIES
Share capital and reserves
Share capital 63,699 63,699
Reserves 7,450,332 2,905,867
Total share capital and reserves 7,514,031 2,969,566
Liabilities
Non-current Liabilities
Staff retirement benefits 53,150 15,513
Long term borrowings 491,122 168,619
Deferred income - government grant 223,780 29,271
Lease liabilities - 20,571
Deferred taxation 412,719 357,704
Total non-current liability 1,180,771 591,678
Current liabilities
Trade and other payables 9,475,192 5,257,887
Current portion of deferred income-government grant 38,694 2,252
Current portion of lease liabilities 22,252 387
Current portion of long term borrowings 21,368 -
Provisions 123,861 124,524
Unpaid dividend 2,205,067 1,416,018
Unclaimed dividend 29,991 24,627
Accrued interest / markup 5,888 1,876
Total current liability 11,922,313 6,827,571
Total equities and liabilities 20,617,115 10,388,815
Statement of Profit or Loss
For the year ended 31 December 2023
in 000'
2022 % of sales 2023F
Sales 28,309,317 Incraesed by 25 % 35,386,646
Cost of sales (16,359,841) 57.79% (20,449,801)
Gross Profit 11,949,476 14,936,845
Distribution cost (3,702,303) 13.08% (4,627,879)
Administrative expenses (556,120) 1.96% (695,150)
Operating Profit 7,691,053 9,613,816
Other operating expenses (564,935) 2.00% (706,169)
Other income 1,380,154 4.88% 1,725,193
EBIT 8,506,272 10,632,840
Finance cost (139,905) 0.49% (174,881.25)
EBT 8,366,367 10,457,959
Taxation (413,964) 1.46% (517,455)
Net Income 7,952,403 9,940,504
Statement of Financial Position
As as 31 December 2023
in 000'
2022 % of sales 2023 (first pass)
ASSETS
Non-current assets
Property, plant and equipment 6,201,699 21.91% 7,752,124
Right-of-use asset 25,029 0.09% 31,286
Intangible assets 81,637 0.29% 102,046
Long term deposits 2,980 0.01% 3,725
Long term loans and advances - 0.00% -
Total non-current assets 6,311,345 7,889,181
Current assets
Stores and spares 197,796 0.70% 247,245
Stock-in-trade 2,918,231 10.31% 3,647,789
Trade debts-net 1,029,752 3.64% 1,287,190
Loans and advances 26,175 0.09% 32,719
Trade deposits and short-term prepayments 212,553 0.75% 265,691
Other receivables 239,536 0.85% 299,420
Sales tax refubndable-net 775,332 2.74% 969,165
Taxation-net 552,969 1.95% 691,211
Short term investments 5,771,861 20.39% 7,214,826
Cash and bank balances 2,581,565 9.12% 3,226,956
Total current assets 14,305,770 17,882,213
Total assets 20,617,115 25,771,394
EQUITY AND LIABILITIES
Share capital and reserves
Share capital 63,699 0.23% 79,624
Reserves 7,450,332 26.32% 9,312,915
Total share capital and reserves 7,514,031 9,392,539
Liabilities
Non-current Liabilities
Staff retirement benefits 53,150 0.19% 66,438
Long term borrowings 491,122 1.73% 491,122
Deferred income - government grant 223,780 0.79% 279,725
Lease liabilities - 0.00% -
Deferred taxation 412,719 1.46% 515,899
Total non-current liability 1,180,771 1,353,183
Current liabilities
Trade and other payables 9,475,192 33.47% 11,843,990
Current portion of deferred income-government gran 38,694 0.14% 48,368
Current portion of lease liabilities 22,252 0.08% 27,815
Current portion of long term borrowings 21,368 0.08% 26,710
Provisions 123,861 0.44% 154,826
Unpaid dividend 2,205,067 7.79% 2,756,334
Unclaimed dividend 29,991 0.11% 37,489
Accrued interest / markup 5,888 0.02% 7,360
Total current liability 11,922,313 14,902,891
Total equities and liabilities 20,617,115 25,648,613
- (122,781)
2023 (second
AFN pass)
7,752,124
31,286
102,046
3,725
-
7,889,181
247,245
3,647,789
1,287,190
32,719
265,691
299,420
969,165
691,211
7,214,826
3,226,956
17,882,213
25,771,394
79,624
9,312,915
9,392,539
66,438
122,781 613,903
279,725
-
515,899
1,475,964
11,843,990
48,368
27,815
26,710
154,826
2,756,334
37,489
7,360
14,902,891
25,771,394
-
