This document provides information about Oil and Gas Development Company Limited (OGDCL). It discusses OGDCL's vision, mission, history, management, major oil and gas fields and products. Financial information from 2003-2010 is presented, including net sales, profits, assets, liabilities and equity. Ratio analyses examine the company's profitability, liquidity, asset management, debt management and market value over this period.

3. Presented By:
Humayun Khalid Qurashi
Roll #. 04-Regular
B.Com (Hons.) 5th Semester
Prepared by Humayun Khalid

4. OGDCL Vision
To be a leading multinational Exploration and
Production Company.
Prepared by Humayun Khalid

5. OGDCL Mission
To become the leading provider of oil and gas to the
country by increasing exploration and production both
domestically and internationally, utilizing all options
including strategic alliances.
To continuously realign ourselves to meet the expectations
of our stakeholders through best management
practices, the use of latest technology, and innovation for
sustainable growth, while being socially responsible.
Prepared by Humayun Khalid

6. Company History
 OGDCL was created under an Ordinance dated
20th September 1961.
 Before 23 October 1997 OGDCL was know as
OGDC. But on 23 October 1997 it was
incorporated as a Public Limited Company.
 From 23 October 1997 it is known as OGDCL
(Oil and Gas Development Company Limited)
Prepared by Humayun Khalid

7. Registered Head Office
OGDCL HOUSE, Plot No.3, F-6 / G-6, Jinnah Avenue,
Blue Area, Islamabad.
Telephone = + 92-51-9209811-18
Fax = +92-51-9209792
Email: info@ogdcl.com, csec@ogdcl.com,
Prepared by Humayun Khalid

8. Senior Management
Mr. Kamran Lashari – Chairman
Mr. Kamran Lashari is Secretary to the Ministry
of Petroleum & Natural Resources, and Federal
Government Departments and Ministries.
Mr. Mohammad Naeem Malik - MD/CEO
Mr. Mohammad Naeem Malik is a Chemical
Engineer by profession with 30 years experience
in the petroleum sector. He started his carrier
with petro-chemical industry in the private sector
and then joined Ministry of Petroleum & Natural
Resources in 1981 where he has worked on various
important assignments in the Government of
Pakistan.
Prepared by Humayun Khalid

9. OGDCL Facts & Figures
 Established in 1961
 Converted into Public Limited Company
 October 1997
 Company’s Monogram
Prepared by Humayun Khalid

10. Major Oil & Gas Fields
 Chanda  Tando Alam
 Thora  Sono
 Pasakhi  Lashari
 Chak Nurang  Dakhni
 Sadkal
 Fimkasar  Rajian,
 Nandpur Panjpir  Missa Kiswal
 Uch  Pirkoh
 Daru  Dhodak
 Kunnar  Missan
 Loti
 Bobi  Mela
 Kal  Qadirpur
Prepared by Humayun Khalid

11. Major Oil & Gas Products
 Products
Crude Oil, Gas, LPG & Sulphur
 Net Sales in Financial Year (2009 - 2010)
Rs. 142.57 Billion
 Profit After Tax (2009 - 2010) Rs. 59.18 Billion
Prepared by Humayun Khalid

12. Analysis of Financial Statements Financial Year
2003 - 2010
400,000
350,000
300,000
250,000
200,000
150,000
100,000
50,000
0
Prepared by Humayun Khalid

13. PROFITABILITY
60.00%
100.00
%
50.00%
80.00%
40.00%
60.00%
30.00%
40.00%
20.00%
10.00%
20.00%
0.00%
0.00% FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10
Profit margin Gross Profit margin
Return on Assets Return on Equity
Prepared by Humayun Khalid

14. LIQUIDITY
14.00 Current Ratio Quick Ratio
12.00
10.00
8.00
6.00
4.00
2.00
0.00
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10
Prepared by Humayun Khalid

15. ASSET MANAGEMENT
300.00 1.20
250.00 0.10
200.00 0.80
150.00 0.60
100.00 0.40
50.00 0.20
0 0.00
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10
Day sales outstanding Inventory Turnover Sales Equity Inventory turnover
Prepared by Humayun Khalid

16. DEBT MANAGEMENT
Debt to Assets % Debt / Equity % Long term Debt to Equity %
50.00%
45.00%
40.00%
35.00%
30.00%
25.00%
20.00%
15.00%
10.00
5.00%
0.00%
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10
Prepared by Humayun Khalid

17. Time Interest Earned
Time Interest Earned
10000.00
8000.00
6000.00
4000.00
2000.00
0.00%
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10
Prepared by Humayun Khalid

18. Market Value
70
25.00
60
20.00
50
15.00 40
30
10.00
20
5.00
10
0.00 0
FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10
Prepared by Humayun Khalid

19. Meta Analysis
 Profit and loss account
 Balance Sheet
 Ratio Analysis
 Index Analysis Profit and Loss Account
 Index analysis Balance Sheet
 Common Size Analysis Profit and Loss Account
 Common Size Analysis Balance Sheet
Prepared by Humayun Khalid

20. 2003 2004 2005 2006 2007 2008 2009 2010
Net Sales 45,008,279 51,293,653 73,710,101 96,755,382 100,261,191 125,445,674 130,829,579 142,571,863
Other operating 61,919 32,620 ---- ---- ---- ---- ---- ----
revenue 45,070,198 51,326,273 73,710,101 96,755,382 100,261,191 125,445,674 130,829,579 142,571,863
Less:
Operating 8,117,042 8,083,426 11,717,853 15,045,654 (18,497,388) (18,882,365) (22,673,893) (23,727,818)
expenses 4,970,478 5,570,218 8,109,632 10,872,443 (10,877,443) (17,262,493) (15,155,667) (16,728,843)
Royalty 635,524 548,919 760,092 942,163 (1,087,931) (1,472,615) (1,522,489) (1,492,267)
Transportation
charges 1,359,576 2,041,252
Amortization of
exploration 2,671,260 3,680,707
development
expenditure
Exploration and _____ ___ ____ ____ ___ __ ___ ______ __ _______ __ __________ __________ __________
prospecting (15,082,620) (16,243,815) (23,258,837) (30,540,967) (30,462,762) (37,617,473) (39,352,049) (41,948,928)
expenditure 29,987,578 35,082,458 50,451,264 66,214,415 69,798,429 87,828,201 91,477,530 100,622,935
Less:
Exploration
expend. write off ---- ---- ---- ---- ---- ----
including 2,526,119 3,397,907
exploratory dry 27,461,459 31,684,551 50,451,264 66,214,4155 69,798,429 87,828,201 91,477,530 100,622,935
holes
Less:
General (994,730) (838,818) (823,305) (1,071,979) (8,691,756) (7,856,866) (8,792,542) (9,500,531)
&admin.
expenses (646,672) (38,468) (5,955) (9,973) (449,561) (531,799) (926,027) (1,273,312)
Financial
charges (1,390,373) (1,606,071) (2,580,011) (3,469,017) (3,213,617) (4,387,411) (4,259,364) (4,660,671)
Worker’s Profit
Participation 57,503 64,118
Fund (3,031,775) (2,483,357) (3,409,271) (4,550,969) (12,354,934) (12,776,076) 13,977,933 15,370,396
Share of profit in
associate - net of
taxation
Operating 24,429,684 29,201,194 47,041,993 61,663,446 57,443,495 75,052,125 77,557,100 85,252,539
Profit 1,987,402 1,314,156 1,978,223 4,247,881 3,615,231 8,308,684 3,370,823 3,300,214
Other income
Profit Before 26,417,086 30,515,350 49,020,216 65,911,327 61,058,726 83,360,809 80,927,923 88,552,753
taxation 5,744,000 8,100,889 16,052,316 19,943,604 15,428,762 33,747,216 (25,388,282) (29,375,628)
Less: Provision
for taxation
PROFIT after 20,673,086 22,414,461 32,967,900 45,967,723 45,629,964 49,613,593 55,539,641 59,177,125
taxation 31,761,423 21,087,495 ----- ----- ----- ---- ---- ----
Un-appropriated
profit brought 52,434,509 43,501,956by Humayun Khalid
Prepared 32,967,900 45,967,723 45,629,964 49,613,593 55,539,641 59,177,125

21. 2003 2004 2005 2006 2007 2008 2009 2010
Share capital – – 43,009,284 43,009,284 43,009,284 43,009,284 43,009,284 43,009,284
Authorized share capital – – – – – – – –
(2,500,000,000 shares of Rs 10 each) 25,000,000 – – – – – – –
(5,000,000,000) (2003 : 2,500,000,000) ordinary – 50,000,000 – – – – – –
Issued, subscribed and paid-up capital 10,752,321 43,009,284 – – – – – –
Reserve for issue of bonus shares 32,256,963 – – – – – – –
Pre-incorporation profit – – – – – – – –
Contingency reserve 1,363,967 1,659,614 1,995,996 2,219,027 2,438,228 3,503,064 3,658,318 3,859,682
Un-appropriated profit 21,087,495 26,002,595 38,204,702 49,541,966 55,169,140 63,902,995 79,503,794 110,523,520
65,460,746 70,671,493 83,209,982 94,770,277 100,616,652 110,415,343 126,171,396 157,392,486
CONTINGENCY RESERVE FUND – – 1,420,245 – – – –
LONG TERM LOANS/Unsecured 14,751 14,751 14,751 – – – –
LONG TERM PROVISIONS 4,808,113 6,850,935 7,543,672 14,232,747 5,151,807 6,795,141 10,814,506 12,435,365
DEFERRED LIABILITIES 8,183,119 8,714,332 10,292,045 – 12,447,048 13,660,376 19,718,996 24,198,957
CURRENT LIABILITIES AND PROVISION
Current maturity of long term loans
Creditors, accrued and other liabilities 13,518,483 – –
Provision for taxation 3,551,948 4,298,623 – 7,174,483 11,122,665 17,215,555 18,747,328 28,624,204
Proposed dividend – – – 3,716,958 – 4,223,048 2,540,170 6,216,639
CONTINGENCIES AND COMMITMENTS 2,903,127 5,376,161 – – – – –
–
Total Equity and Liabilities 84,921,805 95,926,295 114,578,933 121,314,710 129,338,172 152,309,463 177,992,396 228,867,651
FIXED CAPITAL EXPENDITURE
Property, plant and equipment 16,320,950 17,195,913 19,685,294 19,575,807 21,600,201 23,229,631 28,482,194 34,998,898
Exploration and development expenditure 16,219,246 17,935,742 22,763,244 2,551,149 35,115,699 44,480,485 57,837,465 68,182,251
Projects in progress 4,124,282 3,849,509 802,041 – – – –
Stores held for capital expenditure 870,749 734,918 – 3,228,590 – – – –
37,535,227 39,716,082 43,250,579 44,457,959 56,715,900 67,710,116 86,319,659 103,181,149
LONG TERM INVESTMENTS 491,500 491,500 2,437,121 2,729,807 2,945,938 2,860,132 2,903,133 3,231,435
INVESTMENTS HELD TO MATURITY 541,948 636,227 – – – – – –
LONG TERM PREPAYMENTS 34,029 2,055,224 41,839 58,021 39,821 108,937 85,357 118,937
LONG TERM RECEIVABLES 2,279,147 – 1,738,256 1,391,552 1,117,755 1,806,620 1,849,707 1,902,330
CURRENT ASSETS
Stores and stocks 6,057,651 8,085,974 7,610,557 12,895,355 13,272,083 16,766,877 17,572,652 14,699,362
Trade debts–unsecured (considered good) 12,995,933 13,127,338 18,527,574 24,498,986 27,873,515 40,705,299 56,140,092 82,992,291
Loans, advances, deposits, prepayments 5,543,945 6,506,521 2,511,806 34,096,160 22,652,868 14,044,934 9,147,978 14,898,327
and other receivables
Cash and bank balances 19,442,425 25,307,429 37,799,224 1,186,870 4,720,292 8,306,548 3,973,818 7,843,820
44,039,954 53,027,262 67,111,138 76,856,751 68,518,758 79,823,658 86,834,540 120,433,800
Total Assets 84,921,805 95,926,295 114,578,933 121,314,710 129,338,172 152,309,463 177,992,396 228,867,651
Prepared by Humayun Khalid

22. Ratio Analysis
UOM 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10
Earnings per Share (EPS) Rupees 19.23 7.68 10.65 10.52 10.31 12.91 13.76
Gross Profit Margin % - 71 72 69 69 70 71
Net Profit Margin % 44 44 47 45 35 42 42
EBITDA Rs in billion - 55.33 70.94 67.47 87.41 92.20 100.90
EBITDA Margin % - 74 73 67 69 70 71
Current Ratio Times 5.5 5.35 6.92 6.65 3.72 4.01 3.46
Acid Test / Quick Ratio Times 4.7 4.76 5.89 5.44 2.94 3.25 3.03
Debtor Turnover Ratio Times - 4.66 4.50 3.84 3.66 2.70 2.05
Total Assets Turnover Ratio % - 66 77 76 87 79 70
Return on Average Capital Employed % 33 38 48 43 41 47 42
Return on Assets / Return on Investment (ROI) % - 29 36 34 31 34 29
Break-up Value per Share Rupees 16.43 20.94 23.59 24.86 25.67 29.34 36.60
Market Price per Share - As on June Rupees - 105.30 136.75 119.80 124.36 78.64 142.00
- High during the Year Rupees - 189.75 168.80 156.00 140.80 125.49 142.00
- Low during the Year Rupees - 58.40 98.55 113.20 104.90 40.56 80.71
Price Earnings Ratio Times - 13.71 12.84 11.39 12.06 6.09 10.32
Dividend per Share Rupees - 7.50 9.00 9.00 9.50 8.25 5.50
Dividend Payout Ratio % 40 98 85 86 92 64 40
Dividend Yield Ratio % - 7 7 8 8 10 4
Dividend Cover Ratio Times - 1.02 1.18 1.17 1.09 1.57 2.50
Contribution to National Exchequer Rs in billion - 61.46 79.66 78.31 99.75 86.45 80.24
Prepared by Humayun Khalid

23. Index Analysis Profit and Loss Account 2003-2010 30
2003 2004 2005 2006 2007 2008 2009 2010
Net Sales 100% 113.96 163.77 214.97 222.76 278.73 290.67 316.76
Other operating revenue 100% 52.81 ---- ---- ---- ---- ---- ----
113.88 163.54 214.67 222.45 278.35 290.27 316.33
Less:
Operating expenses 100% 99.58 144.36 185.35 227.88 232.62 279.33 292.32
Royalty 100% 112.06 163.15 218.74 218.84 347.30 304.91 336.56
Transportation charges 100% 86.37 119.60 148.24 171.18 231.71 239.56 234.80
Amortization of 100% 150.13 --- --- ----
exploration development
expenditure
Exploration and 100% ----
prospecting
expenditure
Less: Exploration expend.
write off including
exploratory dry holes 100% 134.51 ---- ---- ---- ---- ---- ----
Less:
General &admin. 100% 84.32 82.76 107.76 873.78 789.83 883.91 995.08
expenses
Financial charges 100% 5.94 0.92 1.54 69.51 82.23 143.19 196.90
Worker’s Profit 100%
Participation Fund 115.51 185.56 249.50 231.13 315.55 306.34 335.21
Share of profit in 100% --- --- --- --- --- --- ---
associate - net of taxation
Operating Profit 100% 119.53 192.56 252.41 235.13 307.21 317.55 348.97
Other income 100% 66.12 99.53 213.74 181.90 419.06 169.60 166.05
Profit Before taxation 100% 115.51 185.56 249.50 231.13 315.55 306.34 335.21
Less: Provision for 100% 141.03 279.46 347.20 268.60 587.52 441.99 511.41
taxation
PROFIT after taxation 100% 108.42 159.47 222.35 220.72 239.99 268.65 286.25
Un-appropriated profit 100% 66.39 ----- ----- ----- ---- ---- ----
brought forward
Prepared by Humayun Khalid
100% 82.96 62.87 87.66 87.02 94.62 105.92 112.85

24. Index Analysis Balance Sheet 2003-2010 31
2003 2004 2005 2006 2007 2008 2009 2010
Share capital – – – – – – – –
Authorized share capital – – – – – – – –
(2,500,000,000 shares of Rs 10 each) – – – – – – –
(5,000,000,000) (2003 : 2,500,000,000) ordinary – – – – – – – –
Issued, subscribed and paid-up capital 100% 4.00 – – – – – –
Reserve for issue of bonus shares 100% – – – – – – –
Pre-incorporation profit – – – – – – – –
Contingency reserve 100% 121.67 146.33 162.68 178.76 256.82 268.21 282.97
Un-appropriated profit 100% 123.30 181.17 234.93 261.62 303.03 377.01 524.11
CONTINGENCY RESERVE FUND – – – – – – –
LONG TERM LOANS/Unsecured 100% 100.00 100.00 100.00 – – – –
LONG TERM PROVISIONS 100% 142.48 156.89 296.01 107.62 141.32 224.92 258.63
DEFERRED LIABILITIES 100% 106.49 125.77 – 152.10 166.93 240.97 295.71
CURRENT LIABILITIES AND PROVISION
Current maturity of long term loans – – – – – – –
Creditors, accrued and other liabilities 100% 121.02 – 201.98 313.14 484.67 527.80 805.87
Provision for taxation – – – – – – – –
Proposed dividend 100% 185.18 – – –
CONTINGENCIES AND COMMITMENTS –
Total Equity and Liabilities 100% 112.95 134.92 142.85 152.30 179.35 209.59 269.50
FIXED CAPITAL EXPENDITURE
Property, plant and equipment 100% 105.36 120.61 119.94 132.34 142.33 174.51 214.44
Exploration and development expenditure 100% 110.58 140.34 15.72 216.50 274.24 356.59 420.37
Projects in progress 100% 93.337 19.44 – – – –
Stores held for capital expenditure 100% 84.400 – 370.78 – – _______– __ __–
100% 105.81 115.22 118.44 151.10 180.39 229.96 274.89
LONG TERM INVESTMENTS 100% 100.00 495.85 555.40 599.37 581.91 590.66 657.46
INVESTMENTS HELD TO MATURITY 100% 117.39 – – – – – –
LONG TERM PREPAYMENTS 100% 603.625 122.95 170.50 117.02 320.12 250.83 349.51
LONG TERM RECEIVABLES 100% – 76.26 61.05 49.04 79.26 81.15 83.46
CURRENT ASSETS
Stores and stocks 100% 133.48 125.63 212.87 219.09 276.78 290.09 242.65
Trade debts–unsecured (considered good) 100% 101.011 142.56 188.51 214.47 313.21 431.98 638.60
Loans, advances, deposits, prepayments 100% 117.36 45.30 615.01 408.60 253.33 165.00 268.73
and other receivables
Cash and bank balances 100% 130.16 194.41 6.10 24.27 42.723 20.43 40.34
100% 120.40 152.38 165.02 155.58 181.25 197.172 273.46
Total Assets 100% 112.95 134.92 142.85 152.30 179.35 209.59 269.50
Prepared by Humayun Khalid

25. Common Size Analysis (%) Profit and Loss Account 2003-2010 32
2003 2004 2005 2006 2007 2008 2009 2010
Net Sales 100 100 100 100 100 100 100 100
Other operating revenue 0.13 0.06 ---- ---- ---- ---- ---- ----
100.13 100.06 100 100 100 100 100 100
Less:
Operating expenses 18.03 15.75 15.89 15.55 18.44 15.05 17.33 16.64
Royalty 11.04 10.85 11.00 11.23 10.84 13.76 11.58 11.73
Transportation charges 1.41 1.07 1.03 0.97 1.08 1.17 1.16 1.04
Amortization of
exploration development 3.02 3.97
expenditure
Exploration and 3.62 3.80
prospecting
expenditure
Less: Exploration expend. 5.61 6.62 ---- ---- ---- ---- ---- ----
write off including
exploratory dry holes
Less:
General &admin. 2.21 1.63 1.11 1.10 8.66 6.26 6.72 6.66
expenses
Financial charges 1.43 0.07 0.08 0.01 0.44 0.42 0.70 0.89
Worker’s Profit
Participation Fund 3.08 3.13 3.50 3.58 3.20 3.49 3.25 3.26
Share of profit in
associate - net of taxation 0.04 0.04
Operating Profit 54.27 56.92 63.82 63.73 57.29 59.82 59.28 59.79
Other income 4.41 2.56 2.68 4.39 3.60 6.62 2.57 2.31
Profit Before taxation 58.69 59.49 66.50 68.12 60.89 66.45 61.85 62.10
Less: Provision for 12.76 15.79 21.77 20.61 15.38 26.90 19.40 20.60
taxation
PROFIT after taxation 45.93 43.69 44.72 47.48 45.51 39.54 42.45 41.50
Un-appropriated profit 70.56 41.11 ----- ----- ----- ---- ---- ----
brought forward
116.49 Prepared by Humayun Khalid
84.80 44.72 47.48 45.51 39.54 42.45 41.50

26. Common Size Analysis (%) Balance sheet 2003-2010 33
2003 2004 2005 2006 2007 2008 2009 2010
Share capital – – 37.53 35.45 33.25 28.23 24.16 18.79
Authorized share capital – – – – – – –
(2,500,000,000 shares of Rs 10 each) 29.43 – – – – – – –
(5,000,000,000) (2003 : 2,500,000,000) ordinary – 52.12 – – – – – –
Issued, subscribed and paid-up capital 12.66 44.83 – – – – – –
Reserve for issue of bonus shares 37.98 – – – – – – –
Contingency reserve 1.60 1.73 1.74 1.82 1.88 2.29 2.05 1.68
Un-appropriated profit 24.83 27.10 33.34 40.83 42.65 41.95 44.66 48.29
77.08 73.67 72.62 78.11 77.79 72.49 70.88 68.77
CONTINGENCY RESERVE FUND - – – – – – –
LONG TERM LOANS/Unsecured 0.01 0.01 0.01 – – – –
LONG TERM PROVISIONS 5.66 7.14 6.58 11.73 3.98 4.46 6.07 5.43
DEFERRED LIABILITIES 9.63 9.08 8.98 – 7.62 8.96 11.07 10.57
CURRENT LIABILITIES AND PROVISION
Current maturity of long term loans
Creditors, accrued and other liabilities 4.18 4.48 11.79 – –
Provision for taxation – – – 5.91 8.59 11.30 10.53 12.50
Proposed dividend 3.41 5.60 – 3.06 – 2.77 1.42 2.71
Total Equity and Liabilities 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
FIXED CAPITAL EXPENDITURE
Property, plant and equipment 19.21 17.92 17.18 16.13 16.70 15.25 16.00 15.29
Exploration and development expenditure 19.09 18.69 19.86 2.10 27.15 29.20 32.49 29.79
Projects in progress 4.85 4.01 0.69 – – – –
Stores held for capital expenditure 1.02 0.76 – 2.66 – – – –
44.19 41.40 37.74 36.64 43.85 44.45 48.49 45.08
LONG TERM INVESTMENTS 0.57 0.51 2.12 2.25 2.27 1.87 1.63 1.41
INVESTMENTS HELD TO MATURITY 0.63 0.66 – – – – – –
LONG TERM PREPAYMENTS 0.04 2.14 0.03 0.04 0.03 0.07 0.04 0.05
LONG TERM RECEIVABLES 2.68 – 1.51 1.47 0.86 1.18 1.03 0.08
CURRENT ASSETS
Stores and stocks 7.13 8.42 6.64 10.62 10.26 11.00 9.87 6.42
Trade debts–unsecured (considered good) 15.30 13.68 16.17 20.19 21.55 26.72 31.54 36.26
Loans, advances, deposits, prepayments 6.52 6.78 2.19 28.10 17.51 9.22 5.13 6.50
and other receivables Prepared by Humayun Khalid
Cash and bank balances 22.89 26.38 32.98 0.97 3.64 9.22 2.23 3.42

27. Question
&
Answers
Prepared by Humayun Khalid

28. Prepared by Humayun Khalid