Download - Siemens Pakistan
Download - Siemens Pakistan Download - Siemens Pakistan
Notes to the Financial Statements 143 20. NET SALES 2008 2007 Note (Rupees in ‘000) Export - Goods 391,359 46,313 - Services 52,908 59,114 Contracts executed outside Pakistan 12,374,212 5,610,671 Against International Tenders 1,017,831 110,455 Other - Goods 8,717,803 9,236,701 - Services including projects 4,682,379 7,175,721 Gross sales 27,236,492 22,238,975 Commission paid (69,023) (23,923) Sales tax (286,727) (313,300) Net sales 26,880,742 21,901,752 21. COST OF SALES Opening inventory of finished goods 851,706 623,464 Cost of goods manufactured and services rendered 21.1 22,399,346 17,936,091 Finished goods purchased 530,702 975,374 23,781,754 19,534,929 Closing inventory of finished goods (914,873) (851,706) Cost of sales 22,866,881 18,683,223 21.1 Cost of goods manufactured and services rendered Opening inventories Raw materials and components 1,202,878 894,697 Goods-in-transit 405,166 220,592 Work-in-process 1,061,490 958,742 2,669,534 2,074,031 Purchase of goods and services 20,378,538 14,639,568 Salaries, wages and employees welfare expense 1,480,954 1,572,745 Gratuity fund expense 13,315 11,133 Provident fund contribution 15,480 14,784 Fuel, power and water 261,718 423,453 Repairs and maintenance 178,640 213,249 Rent, rates and taxes 309,528 452,333 Liquidated damages for late deliveries - net of recoveries 954,333 491,052 Warranty and other contractual obligations 131,644 (196,695) Inventories written off 27,169 -..... Slow moving and obsolete items of inventories 30,789 109,343 IT, networking and data communication 72,785 45,863 Insurance 107,969 58,454 Depreciation and amortisation 13.3 132,594 137,427 Transportation 82,523 81,922 Travelling and conveyance 378,515 249,465 Exchange gain (911,881) (93,400) Stationery, telex and telephone 108,850 95,677 Others 125,834 275,285 26,548,831 20,655,689 Closing inventories Raw materials and components (1,537,010) (1,202,878) Goods-in-transit (972,811) (405,166) Work-in-process (1,549,276) (1,061,490) (4,059,097) (2,669,534) 22,489,734 17,986,155 Sale of scrap (90,388) (50,064) 22,399,346 17,936,091
144 Notes to the Financial Statements 22. MARKETING AND SELLING EXPENSES 2008 2007 Note (Rupees in ‘000) Salaries, wages and employees welfare expense 436,177 433,026 Gratuity fund expense 12,679 10,182 Provident fund contribution 14,741 10,124 Fuel, power and water 51,193 44,696 Repairs and maintenance 44,641 54,723 Advertising and sales promotion 23,080 28,176 Rent, rates and taxes 43,906 56,498 Insurance 7,384 11,704 Provision for doubtful trade receivables 85,698 36,427 Provision for doubtful other receivables 24,082 1,327 Bad debts written off against provision 37,672 766 Depreciation and amortisation 13.3 56,231 65,234 Travelling and conveyance 94,952 59,068 Transportation expenses 79,492 56,974 Stationery, telex and telephone 38,674 40,188 IT, networking and data communication 65,882 60,551 Others 16,158 16,796 1,132,642 986,460 23. GENERAL ADMINISTRATION EXPENSES Salaries, wages and employees welfare expense 188,827 246,749 Gratuity fund expense 3,273 1,121 Provident fund contribution 3,806 2,895 Fuel, power and water 11,071 9,033 Repairs and maintenance 10,773 15,048 Rent, rates and taxes 2,093 3,556 Insurance 3,065 2,663 Auditors' remuneration 32 3,913 3,086 Depreciation and amortisation 13.3 22,406 22,451 Travelling and conveyance 26,932 17,259 Stationery, telex and telephone 12,502 9,514 IT, networking and data communication 14,801 10,544 Legal and professional 15,674 12,365 Donations 23.1 1,157 2,040 Workers' profits participation fund 138,607 110,865 Workers' welfare fund 62,154 87,627 Others 14,589 14,127 535,643 570,943 23.1 Donations include the following in which a director or his spouse is interested: Name and address of donee Interested director or his spouse Interest in 2008 2007 donee (Rupees in ‘000) Aga Khan Hospital & Medical Spouse of Sohail Wajahat H. Siddiqui Member of 698 1,512 College Foundation annual giving Stadium Road, Karachi. committee National Management Foundation Syed Babar Ali Chairman - . 108 LUMS Campus Opposite Sector U Defence Housing Authority Lahore, Cantt. Rotary Club of Karachi Sohail Wajahat H. Siddiqui Member - . 35 Metropolitan 321 Central Annexe, Abdullah Haroon Road, Karachi.
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Notes to the Financial Statements<br />
143<br />
20. NET SALES 2008 2007<br />
Note (Rupees in ‘000)<br />
Export - Goods 391,359 46,313<br />
- Services 52,908 59,114<br />
Contracts executed outside <strong>Pakistan</strong> 12,374,212 5,610,671<br />
Against International Tenders 1,017,831 110,455<br />
Other - Goods 8,717,803 9,236,701<br />
- Services including projects 4,682,379 7,175,721<br />
Gross sales 27,236,492 22,238,975<br />
Commission paid (69,023) (23,923)<br />
Sales tax (286,727) (313,300)<br />
Net sales 26,880,742 21,901,752<br />
21. COST OF SALES<br />
Opening inventory of finished goods 851,706 623,464<br />
Cost of goods manufactured and services rendered 21.1 22,399,346 17,936,091<br />
Finished goods purchased 530,702 975,374<br />
23,781,754 19,534,929<br />
Closing inventory of finished goods (914,873) (851,706)<br />
Cost of sales 22,866,881 18,683,223<br />
21.1 Cost of goods manufactured and services rendered<br />
Opening inventories<br />
Raw materials and components 1,202,878 894,697<br />
Goods-in-transit 405,166 220,592<br />
Work-in-process 1,061,490 958,742<br />
2,669,534 2,074,031<br />
Purchase of goods and services 20,378,538 14,639,568<br />
Salaries, wages and employees welfare expense 1,480,954 1,572,745<br />
Gratuity fund expense 13,315 11,133<br />
Provident fund contribution 15,480 14,784<br />
Fuel, power and water 261,718 423,453<br />
Repairs and maintenance 178,640 213,249<br />
Rent, rates and taxes 309,528 452,333<br />
Liquidated damages for late deliveries - net of recoveries 954,333 491,052<br />
Warranty and other contractual obligations 131,644 (196,695)<br />
Inventories written off 27,169 -.....<br />
Slow moving and obsolete items of inventories 30,789 109,343<br />
IT, networking and data communication 72,785 45,863<br />
Insurance 107,969 58,454<br />
Depreciation and amortisation 13.3 132,594 137,427<br />
Transportation 82,523 81,922<br />
Travelling and conveyance 378,515 249,465<br />
Exchange gain (911,881) (93,400)<br />
Stationery, telex and telephone 108,850 95,677<br />
Others 125,834 275,285<br />
26,548,831 20,655,689<br />
Closing inventories<br />
Raw materials and components (1,537,010) (1,202,878)<br />
Goods-in-transit (972,811) (405,166)<br />
Work-in-process (1,549,276) (1,061,490)<br />
(4,059,097) (2,669,534)<br />
22,489,734 17,986,155<br />
Sale of scrap (90,388) (50,064)<br />
22,399,346 17,936,091
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