anmol textile mills ltd 2013-14
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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 1!7 as in"ustrial
"e#elopment takes place. $ow a "ay there are !6 textile mills out of
which %%2 are in operation. er the years' Pakistan is sai" to be the
single crop economy i.e. cotton an" textile that claims the lion(s share in
terms of the contribution in the national economy of Pakistan.
)espite efforts to bring in "i#ersi*cation in country(s o#erall economic
get+up the textile sector continues to be the most important segment of
the national economy. Its share in the economy' in terms of ,)P'
exports' employment' foreign exchange earnings' in#estment an"
re#enue generation altogether place" the textile in"ustry as the single
largest "eterminant of the economic growth of the country. )espite
harsh an" har" international economic con"itions' Pakistan(s textile
in"ustry has weathere" the storm by coming out of the international
crisis in a #ery positi#e manner.
Textiles Exports from P!istn:
-extiles constitute a maor exporting sector for Pakistan' which accounts
for about 60/ of the countrys total foreign exchange earnings. -he
maor export items are yarn gray loth' *nishe" cloth' towels an" be"
sheets an" their maor customers are the 345' urope' apan an" 8ong
9ong. :any textile exports take place un"er ;uota arrangements With
the urope an" the 3nite" 4tates. ,ray cloth constitutes roughly 16+1
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5t present' the export competiti#eness of the textile in"ustry can be
impro#e" by aggressi#e marketing techni;ues an" ;uality impro#ements
which ha#e to be taken care of micro+le#el that is each textile unit
shoul" make its own in"epen"ent efforts to sell its pro"ucts in "ifferent
international markets.
5$:&= has grown from a cotton export house into the premier
business group of Pakistan concentrating on % core businesses
-extiles' ement' >anking an" Power ,eneration. -o"ay' 5$:&= is
consi"ere" to be at par with multinationals operating locally in terms of
its ;uality pro"ucts an" management skills.
-he company is free from the energy crisis because it has set up its own
power generation units that are not e#en fulfilling the energy
re;uirement of 5$:&= mills but they are also selling this to ,o#ernment.
-he company is hol"ing the position with the spinning' wea#ing an"
"ying units with the extraor"inary pro"uction capacity.
5$:&= is running "ifferent business with "ifferent famous pro"ucts like5$:&= =inen that has opene" its outlets in maor cities of Pakistan.
)ifferent "epartments are working well to achie#e the strategic aims of
the company. -hey are a"opting the latest :anagement information
system to access "ata that results in pro"ucing timely results for
"ifferent "epartments
-he *nancial ratio analysis shows that the company is enoying goo"
profits an" is consistently running its operations e#en in the con"itions
when the country is passing through critical con"itions.
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A"M#$ MI$$S $IMITE%
5$:&= :I==4 =I:I-) ?5$:&=@ commence" business in 1!1 as a
partnership concern' which was con#erte" into pri#ate limite" company
in 1!. In 161' the company went public an" was liste" on the
9arachi stock exchange' the only stock exchange in the country at
that time. In 1
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C#MPA"Y I".#RMATI#"
/#AR% #. %IRECT#RS:
hief xecuti#e :r. 4heikh $iaD 5num
Aana :uhamma" :ushta;
:s. $abiha 4hahnawaD heema
:r. :uhamma" 5Dam
AU%IT C#MMITTEE:
:r. 9hali" Ea"eer Eureshi hairmanF:ember
:r. :uhamma" 5Dam :ember
:s. $abiha 4hahnawaD heema :ember
C0IE. .I"A"CIA$ #..ICER:
:r. >a"ar+ul+8assan
C#MPA"Y SECRETARY:
:r. 9hali" :ahmoo" hohan
AU%IT#RS:
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AiaD 5hma" G ompany hartere" 5ccountants
$E1A$ A%VIS#R:
:r. :. 5urangDeb 9han' 5"#ocate'
hamber $o. 6' )istrict ourt' Haisalaba".
MI$$S:
:ill 4ite 120 9m ,- Aoa" &kara
Phone J2+%%2+!%!%B0
Hax J2+%%2+!%2B2B%
0EA% #..ICE:
&Kce 4uit L1' 2n" Hloor' 1! 4hah
amal' =ahore
Phone J2+%2+7!%1!%0' 7!B2B%%
Hax J2+%2+7!%BB%2
mail anmoltextilesMhotmail.com
infoManmoltextile.com
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Mission Sttement
-o pro#i"e ;uality pro"ucts to customers an" explore new
markets to promoteFexpan" sales of the ompany through
goo" go#ernance an" foster a soun" an" "ynamic team' so as
to achie#e optimum prices of pro"ucts of the ompany for
sustainable an" e;uitable growth an" prosperity of the
ompany.
VISI#" STATEME"T
-o transform the ompany into a mo"ern an" "ynamic yarn'
cloth an" processe" cloth an" finishe" pro"uct manufacturing
ompany that is fully e;uippe" to play a meaningful role on
sustainable basis in the economy of Pakistan.
-o transform the ompany into a mo"ern an" "ynamic power
generating ompany that is fully e;uippe" to play a
meaningful role on sustainable basis in the economy ofPakistan.
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ompany Pro*le
Sponsors:
4ince last four "eca"es' the members of this group ha#e ma"e
tremen"ous contribution in boosting the textile tra"ing sector in
Pakistan. -he members of the group are wi"ely recogniDe" as
pioneer of textile yarn tra"ers in the country. -his achie#ement an"
recognition is the result of groups eNorts in a"opting a"#ance"
techni;ues of tra"ing' remarkable organiDation culture an" on time
honoring its commitments.
Indoor Mn2ement:
-he company to"ay "eri#es its strength from a uni;ue blen" ofentrepreneurial ownership a""e" with unparallele" skill of
professionals.
-o"ay' the company is manage" by highly ;uali*e" team of
professionals with #ast experience in their respecti#e *el"s. #ery
"epartment is hea"e" by a professional' ;uali*e" an" experience"
executi#e.
Employees 3elfre 4 Addition in /uildin2:
5nmol -extile :ills =t" belie#es in a"mirable work en#ironment. -he
management staN relationship which exists within 5nmol bears
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witness to this principle. Oarious social welfare schemes an"
programs like social security' pro#i"ent fun"' free me"ical ser#ices'
regular an" performance bonuses' easy loan facilities ha#e been
implemente" for the bene*t of the employees. In or"er to pro#i"e
i"eal resi"ential to workers an" oKcers Workers olony' >achelor
8ostel an" ,.:. >ungalow are constructe" at site.
ank payment #ouchers
>ank receipt #ouchers
ournal #oucher or a"ustment #ouchers
Petty cash #ouchers
-hese #ouchers are now "iscusse" below in "etail
Csh Pyment Vou8hers:
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>eing a public limite" company cash payment #ouchers are use" for
recor"ing the expense of less than *#e thousan". -hese types of
#ouchers are prepare" when cash payments are ma"e against small
expenses i.e. repair' entertainment etc. In or"er to recor" the expensesfollowing entry is passe"
5ccount co"e name of expense ?"ebit@ 5mount
ash account ?cre"it@ 5mount
#i"ence of expense is attache" with the cash payment #ouchers.
Csh Re8eipt Vou8hers:
-hese types of #ouchers are prepare" when the cashier on behalf of the
5$:&= mills limite" is recei#ing cash. 8owe#er' these types of #ouchers
are small in ;uantity because maority of transactions are "one by
bank. &n receipt of cash' cashier prepare" the cash recei#e" slip.
5ccount officer prepares #oucher on the basis of cash receipt prepare"
by the cashier. In or"er to book the transaction the following entry is
passe" in the books.
5ccount co"e cash account ?"ebit@ 5mount
Income 5F or recei#able 5F ?cre"it@ 5mount
/n! Pyment Vou8hers:
>eing a public limite" company the maority of payment transactions of
the 5$:&= mill limite" are carrie" out through banks. >ills an"
in#oices being appro#e" by the competent authority reach at the table
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of accounts officer for payment. 5ccount of*cer checks the appro#al an"
mathematical accuracy of the bill an" prepares the bank payment
#oucher. 5ccounts officer *rst con*rms the nature of expense i.e. capital
or re#enue an" "e"uction of tax if applicable then pass the following
entry
5ccount co"e 5sset name or expense ?"ebit@ amount
>ank account ?cre"it@ amount
)e"uction of tax at source ?cre"it@ amount
#i"ence of expenseFasset is attache" with the cash payment #oucher.
/n! Re8eipt Vou8hers:
5ccount co"e che;ues clearing 5F ?"ebit@ amount 5ccount recei#able
5F ?cre"it@ amount 5"#ance against sale 5F ?cre"it@ amount
&n clearing of abo#e referre" che;ues following entry passe" in the
books of account officers. 5ccount co"e >ank 5F ?"ebit@ 5mount
he;ues clearing 5F ?cre"it@ 5mount
Ad7ustment Vou8her or =ournl Vou8hers:
-hese types of #ouchers are generally prepare" in the followingcircumstances
Purchase on cre"it
4ales on cre"it
Writing oN assets i.e. "epreciation store consumption etc.
Aecti*cation of mistakes or omissions
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-hese are "iscusse" below in "etail'
Pur8hse on 8redit:
,enerally raw material' stores an" spares are purchase" on cre"it. Inor"er to account them for the ournal #oucher are prepare" by the
concerne" account of*cer
5ccount co"e Purchase 5F ?"ebit@ 5mount
5ccount payable 5F ?cre"it@ 5mount opy of the in#oices is
attache" with #ouchers.
Sles on 8redit:
=ike purchases' sales ?local an" export@ are ma"e on cre"it an" at the
time of "eli#ery of goo"s following ournal are prepare" by the account
officer
re"it sales 5F 5mount
opy of in#oices is attache" with #oucher.
3ritin2 off ssets:
-hese ournal #ouchers are prepare" in or"er to change the assets to
expense for the preparation of monthly accounts.
-o account for "epreciation of *xe" assets 5ccount co"e )epreciation
5F ?"ebit@ 5mount
5ccumulate" "epreciation 5F ?cre"it@ 5mount
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-o account for the raw material consumption
5ccount co"e raw material concerne" 5F ?"ebit@ amount
Aaw material store 5F ?cre"it@ amount
-o account for store consumption
5ccount co"e store concerne" 5F ?"ebit@ amount
4tore an" spares 5F ?cre"it@ amount
-o account for accrue" expenses
5ccount co"e expense 5F ?"ebit@ amount
5ccount payable 5F ?cre"it@ amount
In a""itional to abo#e referre" kin"s ournal #oucher is also passe" to
rectify the mistakes ma"e in #oucher preparation or posting.
$ed2er Postin2:
omputer operator puts log number an" makes posting in computer.
5ccounts of 5$:&= :I==4 are computeriDe" an" le"gers are prepare" in
computer. 5fter the preparation an" co"ing of #oucher it is sent to
computer operator for posting. 5 "aily print out of all entries is checke"
to check the accuracy. 5fter checking the accuracy the master *le is
up"ate" an" posting is ma"e to respecti#e account le"ger by the
computer. -hese recor" *les are also sen" to recor" room that they can
be recalle" as e#er nee"e".
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/A">I"1 SECTI#"
-he main purpose of the "epartment is ensuring the a#ailability of the
fun"s for operation' best utiliDation of a#ailable fun" an" to "eal with
banks. Hinance manger prepares "aily cash ows statement in or"er to
"etermine nee"s an" utiliDation of fun"s.
5 weekly proecte" cash ows statement is also prepare" in or"er to
"etermine the nee" of the coming week. 5n account officer prepares
bank reconciliation statement of all the banks an" list out the
outstan"ing entries. 8e then traces the reason for these entries an" put
bank reconciliation on the table of *nance manager. &n receipt of bankstatement the manager prepares cash ow statement an" presents it to
the finance "irector for future actions.
)ealing with bank is normally by recei#ing bank reconciliation
statements. When banking "epartment recei#es such statement it
tallies transaction with its own le"gers. erti*es that whether items
"ebite" or cre"ite" is true in all respect. If any "iscrepancy is foun" it is
tol" to bank. 4ince 5$:&= mills limite" is a large organiDation so "aily
bank reconciliation are recei#e" from the bank.
Pro8ess:
5ll the che;ues' which are presente" for payments' any interest or
commission charge" by the bank' che;ues' recei#e" by the banks an"
cre"ite" in the account of 5$:&= mills limite"' any interest recei#e"
on account of 5$:&= mills limite" by bank are recor"e" an" then
tallie". 5 person "esignate" as 5ssistant :anager 8ea"s banking
"epartment.
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Mr! Up Sheets:
4econ" maor function of the banking "epartment of 5$:&= mills limite"
is preparation of mark up sheet. $ormally *nance is obtaine" from
banks against securities. -he securities are ?a@ ple"ge cotton ?b@
mortgaging machinery etc.
-his loan is taken sometimes for short perio" an" sometimes for longer
perio". 4o in these loans interest is pai". -his interest rate #aries. -his
interest is calculate" on "aily basis. When interest an" loan amount is
pai" to bank' it is this "epartment' which calculates the interest amount
"ue on 5$:&= mills limite". 5lthough interest sheet is sent by bank but
it is reconcile" by the "epartment.
1ecause
your minor mistake may result in huge losses. :oreo#er youwill loss your cre"ibility. Horm "irector to cotton selectors allare in#ol#e" in cotton purchase process.
ST#RE PURC0ASE %EPARTME"T
4tores incharge hea"s the store purchase "epartment.
Purchase "epartment is as un"er
)irector
Purchase &Kcer
5ssistant Purchase &Kcer
Purchase lerk
-he store purchase "epartment is responsible for the purchaseof items like 4pare parts of machinery' an" Packing materialspares' electric items' &il an" lubricants' 4tationery items'
>uil"ing :aterial an" ,eneral 4tore.
%#CUME"TS
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)eman" Ae;uisition
In#oice of Purchase
)eli#ery &r"er
In ,ate Pass
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SA$ES SECTI#"
4ales "epartment is one of the important "epartments in any
in"ustry. If a unit pro"uces best ;uality goo"s but ha#e notcompetiti#e staN then it woul" be "iKcult to sell the pro"ucts.
-he structure of sales "epartment is as un"er.
5$:&= -extile :ills is selling its pro"uct to local as well as ininternational market. -hus the sales "epartment of the 5$:&=
-extile :ills is "i#i"e" in to two sections
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%ire8tor
%ire8tor
Mn2er $o8l
Sles
Mn2er $o8l
SlesMn2er
Export
Mn2er
Export
Commer8il
Asst
Commer8il
Asst
Export Asst
Export Asst
Sles
%eprtment
Sles
%eprtment
$o8l sles %eptt
$o8l sles %eptt Export %eptt
Export %eptt
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Pro8edure
-he following acti#ities are performe" in the local sales
"epartment.
-he "irectors recei#e the or"er of yarn by -ele phone' fax
or e+mail. )irectors e#aluate the capability to ful*ll the or"er by
consulting "aily stock repot from mills.
)irectors gi#e the instructions to local sales manager
that transfer the information on local sale contract slip.
>efore issuing contract slip' sales manager checks the
selling limits of the particular party an" "iscusses the matterwith )irector if it is selling limit
4ales "epartment writes the three copies of "eli#ery
or"er signe" by "irector &ne copy is "ispatche" to the mill for issuing goo"s .
after rea"ing the particulars of "eli#ery or"er store in charge inthe factory will issue the goo"s .
&ne copy of "eli#ery or"er is sen" to the accounts
"epartment an" thir" one is kept for recor".
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Hinancial 5nalysis
Aatio 5nalysis
$I?UI%ITY A"A$YSIS
It shows the * rm ability to pay its short+term obligation on time.
CURRE"T RATI#
@,++ @,+@
1 0.
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%E/T#R C#$$ECTI#" PERI#%
@,++ @,+@
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"ET PR#.IT RATI#
@,++ @,+@
1.!7/ 2.7/
-he company pro* t is increasing with the passage of time. It is
because of its 0/ exports.
#PERATI"1 PR#.IT RATI#
@,++ @,+@
10.70/ 10.
-here is little increase in pro* t of the co. It is because of hiring of new
employees which increases the salaries of the co.
RETUR" #" ASSETS
@,++ @,+@
B.%
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B22/ 220/
5nmol hea#ily "epen"ing on the outsi"ers *nancing.
C#VERA1E RATI# A"A$YSISo#erage ratio is use" to see the ability of a *rm to pay its * xe"
*nancial cost.i+e.
Interest payment
=ease payment t
)i#i"en" to preferre" stockhol"ers
TIME I"TEREST EAR"E% RATI#
@,++ @,+@
1.B6times 1.!6times
5nmol is paying interest 1.!6times in a year' which is greater than
pre#ious years.
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0oriontl Anlysis
/A$A"CE S0EET
C#MM#" SIDE 0#RID#"TA$ A"A$YSIS
ASSETS: @,+@
@,++
;Rupees y "oing this trainees will show more
interest' more "e#otion' more potentials an" will work with their full
mental an" physical efforts.
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