LETTER OF TRANSMITTAL
April 16, 2009
College of Business Management,
M/s. Aasiya Shirazi,
Course instructor, Introduction to Business Finance,
Here is the report you asked us to prepare during the semester of the Introduction to Business Finance course that is based on the "Refinery Sector".
The report attempts to provide a detailed an analysis of the sector. It gives an introduction to sector and also compare ratio .
The report is ready for your perusal. For any query contact the following members.
M. Ovais Iqbal-8155
Hafiz Talha Hussain Tariq-7513
First Of All, all the praise and thanks to ALMIGHTY ALLAH, the compassionate, the merciful, the only creator of this universe and the source of all knowledge who blessed us with health, thoughts, talented teachers and cooperative friends and provided us the opportunity to make some contribution to the already existing ocean of knowledge.
We are also thankful to my institute for giving me a wonderful opportunity to learn from this work.
We feel much pleasure to offer my sincere thanks and feelings of profound gratitude to Ms. Aasiya Shirazi whose guidance, advices, keen interest, philanthropic attitude and encouragement enabled us to complete this report.
Table of Contents
Introduction to Refineries
• Pakistan Refinery Ltd.
• National Refinery Ltd.
• Attock Refinery Ltd.
• BOSICOR lTD.
Financial Ratio Analysis
• Liquidity ratios
• Efficiency/Activity Ratios
• Debt/Leverage Ratios
• Profitability Ratios
• Mkt/Equity Ratios
INTRODUCTION TO COMPANIES
Pakistan Refinery Ltd.
On February 6, the foundation stone was laid by the then Minister for Fuel, Power and Natural Resources. By July, the silhouette of the Refinery could be seen as it appears today. In addition to this construction at Korangi, it was necessary to build a Tank Farm at Keamari. There the crude oil to be discharged from tankers in the Karachi harbour could be stored, before being transferred to the Refinery tanks at Korangi.
On October 28, the plant came into operation two months ahead of schedule. It incorporates some of the most modern refinery equipment and techniques. On November 14, the opening of the Refinery was performed by Field Marshal Mohammad Ayub Khan, President of Pakistan. The design capacity of the Refinery was to process 1 million tons of crude oil annually, but that very year it was decided to expand the capacity of the Refinery to 2.1 million tons per annum, as soon as possible after operations had commenced.
How far PRL have come….!!!
Today, Products derived from refining of crude oil meet an overwhelming part of the world energy needs. PRL , since inception has been the principle manufacturer and supplier of petroleum products to the domestic markets, Pakistan Defense Force and Railways. It continues to server the energy needs of the country with professional excellences and high degree of commithment. PRL takes pride in the competitive edge it enjoys of respect of efficiency, lower operating cost, high quality human resource, reliability and introduction to newer geration technologies.
National Refinery Ltd.
Government of Pakistan took over the management of NRL under the Economic Reforms Order, 1972 under the Ministry of Production, which was exercising control through its shareholding in State Petroleum Refining and Petrochemical Corporation (PERAC).
The Government of Pakistan had decided to place the National Refinery Limited under the administrative control of Ministry of Petroleum & Natural Resources in November 1998.
In June 2003...
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