SIX-YEAR FINANCIAL HIGHLIGHTS

KEY INDICATORS
Operating Results
Sales revenue
Gross profit / (loss)
Profit before tax
Profit after tax
Operating Ratios
Gross margin / (loss)
Pre-tax margin
Net margin
Financial Position
Shareholders equity
Property, plant & equipment
Net current assets
Long term assets
Long term liabilities
Capital employed
Performance
Capital expenditure
Return on assets*
Asset turnover ratio
Fixed assets turnover ratio
Return on equity
Return on capital employed*

2010

2009

2008

2007

2006

Sales Revenue

2005

54,376

Rs. Million
112,274)
2,800)
7,013)
4,399)

104,139
(559)
417
257

74,995
5,387
2,382
991

74,278
3,887
1,335
290

66,555
4,776
1,720
892

54,376
5,890
1,589
1,013

(0.54)
0.40
0.25

7.18
3.18
1.32

5.23
1.80
0.39

7.18
2.58
1.34

10.83
2.92
1.86

9,684
38,096
3,110
1,426
32,947
29,212

10,315
33,808
2,823
1,616
27,932
25,441

9,739
29,823
907
1,809
22,800
22,596

10,341
24,900
2,172
439
17,169
19,808

10,366
21,641
2,889
360
14,524
17,873

%
%

Valuation and other ratios

Earnings per share
Rs.
Cash dividend - per share
Rs.
Dividend payout ratio
%
Bonus shares
%
Net assets per share (breakup value)
Rs.
Market value per share at 30 June
Rs.
Price earnings ratio
Market price to breakup value
Dividend yield
%
Market capitalization
Rs. Million
Debt : Equity ratio
Current ratio
Debt service coverage ratio (as per ADBs covenant)

104,139

Rs. in Million

1.29%

6,040
11.90
2.95
3.04
31.26
13.99

6,583
0.77
2.90
3.10
2.66
0.88

6,044
3.40
2.40
2.57
9.61
3.90

8,566
1.18
2.74
3.01
2.98
1.29

5,393
4.29
2.99
3.20
8.62
4.50

6,220
5.63
2.82
3.02
9.77
5.67

0.38
14.43
14.00
36.84
0.97
9,396
64 : 36
1.05
2.43

1.48
1.25
84
15.37
28.06
18.96
1.83
4.45
18,833
60 : 40
1.08
2.52

0.43
0.50
116
14.51
25.80
60.00
1.78
1.94
17,316
56 : 44
1.03
1.75

1.33
1.30
98
15.41
28.90
21.73
1.88
4.50
19,397
46 : 54
1.11
2.18

1.51
1.50
99
15.44
23.15
15.33
1.50
6.48
15,538
41 : 59
1.23
1.85

0.88%

Earnings per Share

14,072

1.51

2010

2010
2009

2009

1.33

2008

2008
10,341

9,684

2007

6.55

0.43
1.48

2005
Rs. in Million

9,739

In Rupees

10,315

2005
0.38

Capital Employed
17,873

Dividend Payout Ratio

31.451

2010

61%

99%
%

2010
2009*

2009

2008

2008

84%

2007
29,212

22,596

2006

2005
*Nil

25,441

116%

Capital Expenditure
6,220

Dividend Yield

6,040

2010

6.48%

2010

2009*

2009
6,583

2008

4.50%

2008

5,393

2007

25.14%

1.94%

Rs. in Million

6,044

2005

This year OGRA also recognized the UFG issue more than ever before and Benchmark revised upward at 7% from last
year target of 5.15%. This has helped to reduce OGRA penalties from Rs. 2.8 billion in the last year to Rs. 0.9 billion in
the current year, resultantly improving the profitability.

*Nil

Return on Equity

10,678

9.77%
2010
9,396

19,397

2007
18,833

Rs. in Million

2006
2005

17,316

2010

2009
2008

Besides relaxation in UFG target, OGRA has accepted SSGC's stance for allowing certain non-regulated incomes e.g.
royalty income, late payment surcharge, sale of gas condensate and meter manufacturing profit outside the ambit of return
formulae, which has also helped in improving the bottom line.

2005

4.45%

Market Capitalization
15,538

2007
2006

2006
8,566

2007
2006

98%

2005

Rs. in Million

2007
2006

2006

19,808

6.55
1.50
23
25
20.97
15.91
2.43
0.76
25.14
10,678
45 : 55
1.02
1.54

2005
3.90%

Shareholders Equity

The Company continued its focus on prudent capital expenditure to enhance its asset base as well as rehabilitation and
replacement of ageing network. This strategy has been of double advantage to the Company. W hile it is helping to
increase the regulated return on asset base, it is also a major factor in the control of Unaccounted-for-Gas (UFG). This year
the Company achieved the capitalization of Rs. 5.4 billion which is in line with robust performance trend during last five
years. The growth in Capital employed during last six years is 76% which equate to 12% CAGR (Compound Annual
Growth Rate) while increase in sales revenue is 106% which equated to 16% CAGR.

SSGC ANNUAL REPORT 2010

2006

2006

74,995

10,366

2008
2007

4.50%

2005

* based on average for the year

26

2009
13.99%

2007

Rs. Million
14,072
41,666
1,203
1,259
30,056
31.451

2010

2008

74,278

2.49)
6.25)
3.92)

5.67%

2010
2009

66,555

Rs. Million
%

Return on Capital Employed

112,274

2009
8.62%
31.26%

2008
2007

2.98%

2006
2005

9.61%
2.66%

SSGC ANNUAL REPORT 2010

27