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Engro Year 2001 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
69 77.75 63.6
77.75 63.6 57.6
70.12
66.32
57.6 61.65 57.55
61.65 57.55 57.05
58.93
58.75
57.05 49.75 53.95
49.75 53.95 45.9
53.58
49.87
45.9 56.05 55.2
56.05 55.2 51.75
52.38
54.33
Dividend Cash Stock
7.50
Engro Year 2002 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
51.75 60.25 75.55
60.25 75.55 73.25
62.52
69.68
73.25 64.85 59.6
64.85 59.6 59.9
65.90
61.45
59.9 59.7 63.65
59.7 63.65 63.1
61.08
62.15
63.1 70 72.25
70 72.25 92.05
68.45
78.10
Engro
Dividend Cash Stock
7.5
Year 2003 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
92.05 87.8 83.1
87.8 83.1 83.1
87.65
84.67
83.1 79.45 81.35
79.45 81.35 86.85
81.30
82.55
86.85 91.65 95.9
91.65 95.9 81
91.47
89.52
81 80.4 85.7
80.4 85.7 92.8
82.37
86.30
Dividend Cash Stock
8
Engro Year 2004 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
92.8 97.35 95.7
97.35 95.7 98.3
95.28
97.12
98.3 99 98.25
99 98.25 97.5
98.52
98.25
97.5 94.9 94.9
94.9 94.9 90.95
95.77
93.58
90.95 98.5 111
98.5 111 129.3
100.15
112.93
Engro Year 2005
Dividend Cash Stock
8.5
Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
129.3 121.95 127.75
121.95 127.75 128.85
126.33
126.18
128.85 119 113.45
119 113.45 115.25
120.43
115.90
115.25 116 122.9
116 122.9 138.5
118.05
125.80
138.5 155.9 170
155.9 170 164.45
154.80
163.45
Dividend Cash Stock
11
Engro Year 2006 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
164.45 196.6 228.8
196.6 228.8 208
196.62
211.13
208 194.5 176.5
194.5 176.5 169.4
193.00
180.13
169.4 176.6 180.1
176.6 180.1 179.1
175.37
178.60
179.1 181.35 172.8
181.35 172.8 169
177.75
174.38
Dividend Cash Stock
3
3
3
Engro Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
169 185.4 181.45
185.4 181.45 185.8
178.62
184.22
185.8 204.95 209.78
204.95 209.78 253
200.18
222.58
253 252.5 227
252.5 227 259.9
244.17
246.47
259.9 279.5 276.75
279.5 276.75 265.75
272.05
274.00
2
2
3
Engro Year 2008 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
265.75 288.8 320
288.8 320 323.9
291.52
310.90
323.9 329.05 279.01
329.05 279.01 280.81
310.65
296.29
280.81 208.96 181.8
208.96 181.8 180.44
223.86
190.40
180.44
180.44
180.44
180.44
Dividend Cash Stock
2
2
Return
-5.42%
-0.31%
-6.94%
18.04%
Return
11.46%
-6.75%
1.75%
25.05%
Return
-3.40%
1.54%
-2.13%
14.49%
Return
1.92%
-0.27%
-2.28%
21.25%
Return
-0.12%
-3.76%
6.57%
12.69%
Return
7.38%
-5.11%
3.55%
-0.21%
Return
3.14%
12.19%
1.76%
1.82%
Return
6.65%
-3.98%
-14.05%
0.00%
Risk & Returns Engro Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period
Opening 70.12 58.93 53.58 52.38 58.75
Opening 62.52 65.90 61.08 68.45 64.49
Opening 87.65 81.30 91.47 82.37 85.70
Opening 95.28 98.52 95.77 100.15 97.43
Opening 126.33 120.43 118.05 154.80 129.90
Opening
2001 Closing Dividends Cash Stock 66.32 0 0 58.75 0 0 49.87 0 0 54.33 7.5 0 57.32 1.88 0.00
Return
R.R
Act. Risk
-5.42% -0.31% -6.94% 18.04% 1.34%
0.95 1.00 0.93 1.18 1.01
11.49%
R.R
Act. Risk
1.11 0.93 1.02 1.25 1.08
13.66%
R.R
Act. Risk
0.97 1.02 0.98 1.14 1.03
8.18%
R.R
Act. Risk
1.02 1.00 0.98 1.21 1.05
10.87%
2002 Closing Dividends Return Cash Stock 69.68 0 0 11.46% 61.45 0 0 -6.75% 62.15 0 0 1.75% 78.10 7.5 0 25.05% 67.85 1.88 0.00 7.88% 2003 Closing Dividends Return Cash Stock 84.67 0 0 -3.40% 82.55 0 0 1.54% 89.52 0 0 -2.13% 86.30 8 0 14.49% 85.76 2.00 0.00 2.62% 2004 Closing Dividends Return Cash Stock 97.12 0 0 1.92% 98.25 0 0 -0.27% 93.58 0 0 -2.28% 112.93 8.5 0 21.25% 100.47 2.13 0.00 5.16% 2005 Closing Dividends Return Cash Stock 126.18 0 0 -0.12% 115.90 0 0 -3.76% 125.80 0 0 6.57% 163.45 11 0 12.69% 132.83 2.75 0.00 3.84%
R.R
Act. Risk
1.00 0.96 1.07 1.13 1.04
7.29% 7.29%
2006 Closing Dividends
R.R
Act. Risk
Return
First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Average
196.62 193.00 175.37 177.75 185.68
Opening 178.62 200.18 244.17 272.05 223.75 Opening 291.52 310.65 223.86 275.34
211.13 180.13 178.60 174.38 186.06
Cash Stock 0 0 7.38% 3 0 -5.11% 3 0 3.55% 3 0 -0.21% 2.25 0.00 1.40%
2007 Closing Dividends Return Cash Stock 184.22 0 0 3.14% 222.58 2 0 12.19% 246.47 2 0 1.76% 274.00 3 0 1.82% 231.82 1.75 0.00 4.73% 2008 Closing Dividends Return Cash Stock 310.90 0 0 6.65% 296.29 2 0 -3.98% 190.40 2 0 -14.05% 265.86 1.33 0.00 -0.04
1.07 0.95 1.04 1.00 1.01
5.34%
R.R
Act. Risk
1.03 1.12 1.02 1.02 1.05
5.02%
R.R
Act. Risk
1.07 0.96 0.86 0.96
10.35%
Lucky Cements Year 2001 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
8.4 7.15 7
7.15 7 6.35
7.52
6.83
6.35 6.65 7.35
6.65 7.35 6.9
6.78
6.97
6.9 6.3 6.1
6.3 6.1 4.55
6.43
5.65
4.55 7.15 7.7
7.15 7.7 6.9
6.47
7.25
Dividend Cash Stock
0.75
Lucky Cements Year 2002 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
6.9 11.9 10.55
11.9 10.55 10.05
9.78
10.83
10.05 9.9 7.55
9.9 7.55 8.2
9.17
8.55
8.2 8.7 9.55
8.7 9.55 9.75
8.82
9.33
9.75 9.75 10.05
9.75 10.05 11.2
9.85
10.33
Lucky Cements
Dividend Cash Stock
0.75
Year 2003 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
11.2 9.55 9.8
9.55 9.8 10.05
10.18
9.80
10.05 10.7 13.9
10.7 13.9 18.05
11.55
14.22
18.05 21.25 22.5
21.25 22.5 20.65
20.60
21.47
20.65 18.6 22.85
18.6 22.85 24.65
20.70
22.03
Dividend Cash Stock
0.08
0.75
Lucky Cements Year 2004 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
24.65 27.95 25.8
27.95 25.8 33.35
26.13
29.03
33.35 39.05 43.7
39.05 43.7 39.1
38.70
40.62
39.1 39.65 37.75
39.65 37.75 37.65
38.83
38.35
37.65 33.65 38.95
33.65 38.95 40.65
36.75
37.75
Lucky Cements Year 2005
Dividend Cash Stock
0.75
Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
40.65 41.9 48.1
41.9 48.1 48.5
43.55
46.17
48.5 45.4 35.9
45.4 35.9 45.5
43.27
42.27
45.5 44.8 45.75
44.8 45.75 52.4
45.35
47.65
52.4 67.5 74.25
67.5 74.25 83.9
64.72
75.22
Dividend Cash Stock
Lucky Cements Year 2006 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
83.9 99.9 111.25
99.9 111.25 122.35
98.35
111.17
122.35 109.85 98.5
109.85 98.5 103.55
110.23
103.97
103.55 107.25 97.85
107.25 97.85 100.8
102.88
101.97
100.8 94.15 71.05
94.15 71.05 59.9
88.67
75.03
Dividend Cash Stock
1.00
Lucky Cements Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
59.9 66.5 65.55
66.5 65.55 79.3
63.98
70.45
79.3 104.35 110.15
104.35 110.15 137.75
97.93
117.42
137.75 130.2 110.15
130.2 110.15 128.25
126.03
122.87
128.25 127.25 123.05
127.25 123.05 116.5
126.18
122.27
1.25
Lucky Cements Year 2008 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
116.5 115.5 130.1
115.5 130.1 139.75
120.70
128.45
139.75 143.2 108.45
143.2 108.45 97.93
130.47
116.53
97.93 77.9 57.77
77.9 57.77
77.87
67.84
#DIV/0!
#DIV/0!
Dividend Cash Stock
1.25
Return
-9.09%
13.76%
-12.18%
12.11%
Return
10.73%
1.45%
5.86%
4.91%
Return
-3.03%
29.58%
4.21%
6.44%
Return
11.10%
6.89%
-1.24%
2.72%
Return
6.01%
-2.31%
5.07%
16.22%
Return
13.03%
-4.78%
-0.89%
-15.38%
Return
10.11%
21.17%
-2.51%
-3.10%
Return
6.42%
-9.73%
-12.88%
#DIV/0!
Lucky Cements Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period
Opening 7.52 6.78 6.43 6.47 6.80
Opening 9.78 9.17 8.82 9.85 9.40
Opening 10.18 11.55 20.60 20.70 15.76
Opening 26.13 38.70 38.83 36.75 35.10
Opening 43.55 43.27 45.35 64.72 49.22
Opening
2001 Closing Dividends Cash Stock 6.83 0 0 6.97 0.75 0 5.65 0 0 7.25 0 0 6.68 0.19 0.00
Return
R.R
Act. Risk
-9.09% 13.76% -12.18% 12.11% 1.15%
0.91 1.14 0.88 1.12 1.01
13.68%
R.R
Act. Risk
1.11 1.01 1.06 1.05 1.06
3.83%
R.R
Act. Risk
0.97 1.30 1.04 1.06 1.09
14.11%
R.R
Act. Risk
1.11 1.07 0.99 1.03 1.05
5.32%
2002 Closing Dividends Return Cash Stock 10.83 0.00 0.00 10.73% 8.55 0.75 0.00 1.45% 9.33 0.00 0.00 5.86% 10.33 0.00 0.00 4.91% 9.76 0.19 0.00 5.74% 2003 Closing Dividends Return Cash Stock 9.80 0.00 0.08 -3.03% 14.22 0.75 0.00 29.58% 21.47 0.00 0.00 4.21% 22.03 0.00 0.00 6.44% 16.88 0.19 0.02 9.30% 2004 Closing Dividends Return Cash Stock 29.03 0.00 0.00 11.10% 40.62 0.75 0.00 6.89% 38.35 0.00 0.00 -1.24% 37.75 0.00 0.00 2.72% 36.44 0.19 0.00 4.87% 2005 Closing Dividends Return Cash Stock 46.17 0.00 0.00 6.01% 42.27 0.00 0.00 -2.31% 47.65 0.00 0.00 5.07% 75.22 0.00 0.00 16.22% 52.83 0.00 0.00 6.25%
R.R
Act. Risk
1.06 0.98 1.05 1.16 1.06
7.62% 7.62%
2006 Closing Dividends
R.R
Act. Risk
Return
First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Average
98.35 110.23 102.88 88.67 100.03
Opening 63.98 97.93 126.03 126.18 103.53 Opening 120.70 130.47 77.87 109.68
111.17 103.97 101.97 75.03 98.03
Cash 0.00 1.00 0.00 0.00 0.25
Stock 0.00 0.00 0.00 0.00 0.00
2007 Closing Dividends Cash Stock 70.45 0.00 0.00 117.42 1.25 0.00 122.87 0.00 0.00 122.27 0.00 0.00 108.25 0.31 0.00 2008 Closing Dividends Cash Stock 128.45 0.00 0.00 116.53 1.25 0.00 67.84 0.00 0.00 104.27 0.42 0.00
13.03% -4.78% -0.89% -15.38% -2.00%
1.13 0.95 0.99 0.85 0.98
11.74%
Return
R.R
Act. Risk
10.11% 21.17% -2.51% -3.10% 6.42%
1.10 1.21 0.97 0.97 1.06
11.57%
Return
R.R
Act. Risk
6.42% -9.73% -12.88% -0.05
1.06 0.90 0.87 0.95
10.35%
MCBL Year 2001 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
32.4 31.45 28.35
30.73
Dividend Cash Stock 31.45 28.35 23.45
27.75 23.45 26.7 26.4
25.52
26.7 26.3 24.5
25.83 24.35 20.8 23.1
22.75
21 23.4 20.6
21.67 20.75 25.5 22.45
22.90
25.5 22.85 18.75
22.37
MCBL Year 2002 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 18.8 25.8 24
22.87
25.45 23.95 26
25.13 26.6 29.45 24.4
26.82
29.65 24.9 29.1
27.88 29.1 23.9 25.35
26.12
23.9 25.35 27.1
25.45 27.1 32.75 33.05
30.97
Dividend Cash Stock
32.75 33.05 33.35
33.05
MCBL
Year 2003 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
33.35 34.1 33.68
33.71
Dividend Cash Stock 34.1 33.68 33.25
33.68 33.25 33.7 35.65
34.20
1.5 33.7 35.65 37.55
35.63 37.55 42.8 54.75
45.03
42.8 54.75 44.8
47.45 44.8 41.9 46
44.23
1.25 41.9 46 51.4
46.43
1
MCBL Year 2004 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
51.4 54.15 48.7
51.42
54.15 48.7 48.7
50.52 48.7 56 57
53.90
1 56 57 50.6
54.53 50.6 50.7 52.9
51.40
50.7 52.9 49.9
51.17 49.9 48.7 51.4
50.00
Dividend Cash Stock
1.5 48.7 51.4 58.7
52.93
MCBL Year 2005
1
Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 58.7 65.5 78.4
67.53
Dividend Cash Stock 65.5 78.4 64
69.30
1.75
64 75.35 67.9
69.08
75.35 67.9 79.3
74.18 79.3 86.5 104.5
90.10
86.5 104.5 126.3
105.77
1.5
126.3 146.8 156.3
143.13
146.8 156.3 167.8
156.97
1
2
MCBL Year 2006 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
167.8 217 261
215.27
Dividend Cash Stock
217 261 225.05
234.35
2
225.05 238.4 198
220.48
238.4 198 210.3
215.57 210.3 222.75 214.35
215.80
2 222.75 214.35 255
230.70 255 274.5 255
261.50
2 274.5 255 246.1
258.53
1.5
1.5
MCBL Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
246.1 297.95 293
279.02
297.95 293 270.65
287.20 270.65 298 340.95
303.20
2.5 298 340.95 365
334.65
2.5
365 324.6 311.5
333.70
324.6 311.5 333
323.03 333 380.1 372.3
361.80
2.5 380.1 372.3 399.95
384.12
5
MCBL Year 2008 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
399.95 391.9 435
408.95
Dividend Cash Stock 391.9 435 415.5
414.13 415.5 415 274.41
368.30
1.5 415 274.41 326.38
338.60 326.38 271 244
3 271 244 242.72
280.46
252.57
#DIV/0!
#DIV/0!
Return
-9.71%
1.24%
-4.76%
-2.33%
Return
9.91%
3.98%
-2.55%
6.73%
Return
4.35%
4.19%
8.14%
7.23%
Return
0.19%
1.18%
2.46%
7.87%
Return
5.21%
7.38%
19.05%
11.76%
Return
9.79%
-1.32%
7.83%
0.01%
Return
3.83%
11.20%
-2.45%
7.55%
Return
1.63%
-7.25%
-9.94%
#DIV/0!
MCB Period
Opening
First Quarter (Avg) 30.73 Second Quarter 25.52 (Avg) Third Quarter (Avg) 22.75 Fourth Quarter22.90 (Avg) Average 25.48
Period
Opening
First Quarter (Avg) 22.87 Second Quarter 26.82 (Avg) Third Quarter (Avg) 26.12 Fourth Quarter30.97 (Avg) Average 26.69
Period
Opening
First Quarter (Avg) 33.71 Second Quarter 34.20 (Avg) Third Quarter (Avg) 45.03 Fourth Quarter44.23 (Avg) Average 39.29
Period
Opening
First Quarter (Avg) 51.42 Second Quarter 53.90 (Avg) Third Quarter (Avg) 51.40 Fourth Quarter50.00 (Avg) Average 51.68
Period
Opening
First Quarter (Avg) 67.53 Second Quarter 69.08 (Avg) Third Quarter (Avg) 90.10 Fourth Quarter 143.13 (Avg) Average 92.46
Period
Opening
Closing 27.75 25.83 21.67 22.37 24.40
Closing 25.13 27.88 25.45 33.05 27.88
Closing 33.68 35.63 47.45 46.43 40.80
2001 Dividends Cash 0.00 0.00 0.00 0.00 0.00
Stock 0.00 0.00 0.00 0.00 0.00
2002 Dividends Cash 0.00 0.00 0.00 0.00 0.00
Stock 0.00 0.00 0.00 0.00 0.00
2003 Dividends Cash 1.50 0.00 1.25 0.00 0.69
Stock 0.00 0.00 0.00 1.00 0.25
2004 Dividends Cash 1.00 0.00 1.50 0.00 0.63
Stock 0.00 0.00 0.00 1.00 0.25
69.30 74.18 105.77 156.97 101.55
2005 Dividends Cash 1.75 0.00 1.50 1.00 1.06
Stock 0.00 0.00 0.00 2.00 0.50
Closing
2006 Dividends
Closing 50.52 54.53 51.17 52.93 52.29
Closing
Return
R.R
-9.71% 1.24% -4.76% -2.33% -3.89%
0.90 1.01 0.95 0.98 0.96
Return
R.R
9.91% 3.98% -2.55% 6.73% 4.52%
1.10 1.04 0.97 1.07 1.05
Return
R.R
4.35% 4.19% 8.14% 7.23% 5.98%
1.04 1.04 1.08 1.07 1.06
Return
R.R
0.19% 1.18% 2.46% 7.87% 2.93%
1.00 1.01 1.02 1.08 1.03
Return
R.R
5.21% 7.38% 19.05% 11.76% 10.85%
1.05 1.07 1.19 1.12 1.11
Return
R.R
First Quarter (Avg) 215.27 Second Quarter 220.48 (Avg) Third Quarter 215.80 (Avg) Fourth Quarter 261.50 (Avg) Average 228.26
Period
234.35 215.57 230.70 258.53 234.79
Opening
Closing
First Quarter (Avg) 279.02 Second Quarter 303.20 (Avg) Third Quarter 333.70 (Avg) Fourth Quarter 361.80 (Avg) Average 319.43
287.20 334.65 323.03 384.12 332.25
Period
Opening
Closing
First Quarter (Avg) 408.95 Second Quarter 368.30 (Avg) Third Quarter 280.46 (Avg) Average 352.57
414.13 338.60 252.57 335.10
Cash 2.00 2.00 2.00 1.50 1.88 2007 Dividends Cash 2.50 2.50 2.50 5.00 3.13 2008 Dividends Cash 1.50 3.00 2.25
Stock 0.00 0.00 0.00 1.50 0.38
Stock 0.00 0.00 0.00 0.00 0.00
Stock 0.00 0.00 0.00 0.00
9.79% -1.32% 7.83% 0.01% 4.08%
1.10 0.99 1.08 1.00 1.04
Return
R.R
3.83% 11.20% -2.45% 7.55% 5.03%
1.04 1.11 0.98 1.08 1.05
Return
R.R
1.63% -7.25% -9.94% -0.05
1.02 0.93 0.90 0.95
Act. Risk
4.60%
Act. Risk
5.30%
Act. Risk
2.01%
Act. Risk
3.42%
Act. Risk
6.11%
Act. Risk
5.55%
Act. Risk
5.82% Act. Risk
6.06%
PSO Year 2001 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
143.6 144.75 142.25
Dividend Cash Stock
144.75 142.25 134.25
143.53
140.42 134.25 141.65 142.45
141.65 142.45 132.5
139.45
138.87 132.5 123.55 127.85
123.55 127.85 105.6
127.97
119.00 105.6 111.6 98.8
111.6 98.8 92.4
105.33
100.93
PSO Year 2002 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
92.4 109 148.5
109 148.5 157.15
116.63
138.22 157.15 164.15 128.85
164.15 128.85 140
150.05
144.33 140 140.8 202.65
140.8 202.65 197.3
161.15
180.25 197.3 195.5 176.35
195.5 176.35 211.5
189.72
194.45
PSO
Dividend Cash Stock
Year 2003 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
211.5 190.95 196.93
199.79
Dividend Cash Stock
190.95 196.93 202.9
196.93 202.9 205.4 213.7
207.33
205.4 213.7 228.3
215.80 228.3 280.95 290.2
266.48
280.95 290.2 278.5
283.22 278.5 250.45 273.3
267.42
250.45 273.3 288.55
270.77
PSO Year 2004 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
288.55 287.65 293.1
289.77
287.65 293.1 285.45
288.73 285.45 271 271
275.82
271 271 256.75
266.25 256.75 256 256.85
256.53
256 256.85 250.3
254.38 250.3 257.25 268.6
258.72
257.25 268.6 286.75
270.87
PSO Year 2005
Dividend Cash Stock
Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
286.75 310.6 412.45
336.60
Dividend Cash Stock
310.6 412.45 398
373.68 398 368 359
375.00
368 359 386
371.00 386 373.35 390.3
383.22
373.35 390.3 385
382.88 385 410 416.5
403.83
410 416.5 416.85
414.45
PSO Year 2006 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
416.85 401.5 430
416.12
Dividend Cash Stock 401.5 430 373
401.50 373 342 304
339.67
342 304 309
318.33 309 364.65 328
333.88
18 364.65 328 312.05
334.90 312.05 300 300
304.02
300 300 300
300.00
6
PSO Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
294 339.9 355.3
329.73
339.9 355.3 355.05
350.08 355.05 360.5 370
361.85
4 360.5 370 391.45
373.98 391.45 375.5 329
365.32
11 375.5 329 360.55
355.02 360.55 407.2 429.75
399.17
5 407.2 429.75 406.6
414.52
PSO Year 2008 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
406.6 439.95 496
447.52
439.95 496 533.45
489.80 533.45 503 440
492.15
6 503 440 417.24
453.41 417.24 373.35 279.99
356.86
373.35 279.99 279.99
311.11 279.99
279.99
Dividend Cash Stock
#DIV/0!
Return
-2.17%
-0.42%
-7.01%
-4.18%
Return
18.51%
-3.81%
11.85%
2.49%
Return
-1.43%
4.08%
6.28%
1.25%
Return
-0.36%
-3.47%
-0.84%
4.70%
Return
11.02%
-1.07%
-0.09%
2.63%
Return
-3.51%
-0.98%
0.30%
0.65%
Return
7.38%
6.39%
-1.45%
3.85%
Return
10.79%
-7.87%
-12.82%
#DIV/0!
PSO Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period
Opening 143.53 139.45 127.97 105.33 129.07
2001 Closing Dividends Cash Stock 140.42 0.00 0.00 138.87 0.00 0.00 119.00 0.00 0.00 100.93 0.00 0.00 124.80 0.00 0.00
Opening
Closing
116.63 150.05 161.15 189.72 154.39
138.22 144.33 180.25 194.45 164.31
Opening 199.79 207.33 266.48 267.42 235.26
Opening 289.77 275.82 256.53 258.72 270.21
R.R
Act. Risk
-2.17% -0.42% -7.01% -4.18% -3.44%
0.98 1.00 0.93 0.96 0.97
2.83%
R.R
Act. Risk
1.19 0.96 1.12 1.02 1.07
9.88%
R.R
Act. Risk
0.99 1.04 1.06 1.01 1.03
3.36%
R.R
Act. Risk
1.00 0.97 0.99 1.05 1.00
3.41%
R.R
Act. Risk
1.11 0.99 1.00 1.03 1.03
5.49%
R.R
Act. Risk
2002 Dividends Return Cash Stock 0.00 0.00 18.51% 0.00 0.00 -3.81% 0.00 0.00 11.85% 0.00 0.00 2.49% 0.00 0.00 7.26%
2003 Closing Dividends Return Cash Stock 196.93 0.00 0.00 -1.43% 215.80 0.00 0.00 4.08% 283.22 0.00 0.00 6.28% 270.77 0.00 0.00 1.25% 241.68 0.00 0.00 2.55% 2004 Closing Dividends Return Cash Stock 288.73 0.00 0.00 -0.36% 266.25 0.00 0.00 -3.47% 254.38 0.00 0.00 -0.84% 270.87 0.00 0.00 4.70% 270.06 0.00 0.00 0.01%
Opening
Closing
336.60 375.00 383.22 403.83 374.66
373.68 371.00 382.88 414.45 385.50
Opening
Return
2005 Dividends Return Cash Stock 0.00 0.00 11.02% 0.00 0.00 -1.07% 0.00 0.00 -0.09% 0.00 0.00 2.63% 0.00 0.00 3.12%
2006 Closing Dividends
Return
First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Average
416.12 339.67 333.88 304.02 348.42
Opening 329.73 361.85 365.32 399.17 364.02
401.50 318.33 334.90 300.00 338.68
Cash 0.00 18.00 0.00 6.00 6.00
Stock 0.00 -3.51% 0.00 -0.98% 0.00 0.30% 0.00 0.65% 0.00 -0.88%
2007 Closing Dividends Return Cash Stock 350.08 4.00 0.00 7.38% 373.98 11.00 0.00 6.39% 355.02 5.00 0.00 -1.45% 414.52 0.00 0.00 3.85% 373.40 5.00 0.00 4.04%
Opening
Closing
447.52 492.15 356.86 432.18
489.80 453.41 311.11 418.11
2008 Dividends Return Cash Stock 6.00 0.00 10.79% 0.00 -7.87% 0.00 -12.82% 6.00 0.00 -0.03
0.96 0.99 1.00 1.01 0.99
1.89%
R.R
Act. Risk
1.07 1.06 0.99 1.04 1.04
3.95%
R.R
Act. Risk
1.11 0.92 0.87 0.97
12.45%
NESTLE Year 2001 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 150 138 141
143.00
Dividend Cash Stock 138 141 140
139.67 140 130 127
132.33
130 127 137
131.33 137 141 150
142.67
141 150 155
148.67 155 160 162
159.00
160 162 154
158.67
NESTLE Year 2002 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 154 170 178
167.33
170 178 176
174.67 176 185 188
183.00
185 188 190
187.67 190 192 187.5
189.83
192 187.5 192
190.50 192 198 207
199.00
Dividend Cash Stock
198 207 218.5
207.83
NESTLE
Year 2003 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
218.5 209 189.1
205.53
Dividend Cash Stock
209 189.1 203
200.37 203 220 225
216.00
220 225 250
231.67 250 269.8 279
266.27
269.8 279 278
275.60 278 275 270.1
274.37
275 270.1 376
307.03
4
NESTLE Year 2004 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
376 460 473.95
436.65
460 473.95 480
471.32 480 489 480
483.00
489 480 479
482.67 479 450 456
461.67
450 456 460
455.33
460 465 470.05
465.02
Dividend Cash Stock
465 470.05 519.95
485.00
NESTLE Year 2005
5
Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
519.95 510 500
509.98
Dividend Cash Stock 510 500 525
511.67
525 551.25 535
537.08
551.25 535 534
540.08
534 538.65 554
542.22
538.65 554 557
549.88 557 560 570
562.33
560 570 602
577.33
15
NESTLE Year 2006 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 602 689 800
697.00
Dividend Cash Stock 689 800 825
771.33 825 950 1197
990.67
950 1197 1102.56
1083.19
1102.56 1068 919.65
1030.07
1068 919.65 940
975.88
940 950 900.05
930.02
950 900.05 1044.95
965.00
5
NESTLE Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
1044.95 1323 1460
1275.98
1323 1460 1680
1487.67
1680 1580 1499
1586.33
1580 1499 1545
1541.33
1545 1505 1490
1513.33
1505 1490 1500
1498.33
1500 1530 1835
1621.67
1530 1835 1800
1721.67
10
NESTLE Year 2008 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening 1800 1690.9 1600
1696.97 1512 1423 1282.51
1405.84
Closing 1690.9 1600 1512
1600.97 1423 1282.51 1640
1448.50
1640
1640.00
#DIV/0!
#DIV/0!
#DIV/0!
Dividend Cash Stock
Return
-2.33%
-0.76%
4.21%
-0.21%
Return
4.38%
2.55%
0.35%
4.44%
Return
-2.51%
7.25%
3.51%
13.36%
Return
7.94%
-0.07%
-1.37%
5.37%
Return
0.33%
0.56%
1.41%
5.33%
Return
10.66%
9.34%
-5.26%
4.30%
Return
16.59%
-2.84%
-0.99%
6.78%
Return
-5.66%
3.03%
#DIV/0!
#DIV/0!
PSO Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period
Opening 143.00 132.33 142.67 159.00 144.25
2001 Closing Dividends Return Cash Stock 139.67 0.00 0.00 -2.33% 131.33 0.00 0.00 -0.76% 148.67 0.00 0.00 4.21% 158.67 0.00 0.00 -0.21% 144.58 0.00 0.00 0.23%
Opening
Closing
167.33 183.00 189.83 199.00 184.79
174.67 187.67 190.50 207.83 190.17
Opening 205.53 216.00 266.27 274.37 240.54
Opening 436.65 483.00 461.67 465.02 461.58
Act. Risk
0.98 0.99 1.04 1.00 1.00
2.80%
Return
R.R
Act. Risk
4.38% 2.55% 0.35% 4.44% 2.93%
1.04 1.03 1.00 1.04 1.03
1.93%
R.R
Act. Risk
0.97 1.07 1.04 1.13 1.05
6.66%
R.R
Act. Risk
1.08 1.00 0.99 1.05 1.03
4.42%
Return
R.R
Act. Risk
0.33% 0.56% 1.41% 5.33% 1.91%
1.00 1.01 1.01 1.05 1.02
2.33%
Return
R.R
Act. Risk
2003 Closing Dividends Return Cash Stock 200.37 0.00 0.00 -2.51% 231.67 0.00 0.00 7.25% 275.60 0.00 0.00 3.51% 307.03 4.00 0.00 13.36% 253.67 1.00 0.00 5.40% 2004 Closing Dividends Return Cash Stock 471.32 0.00 0.00 7.94% 482.67 0.00 0.00 -0.07% 455.33 0.00 0.00 -1.37% 485.00 5.00 0.00 5.37% 473.58 1.25 0.00 2.97%
Opening
Closing
509.98 537.08 542.22 562.33 537.90
511.67 540.08 549.88 577.33 544.74
Opening
2002 Dividends Cash Stock 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R.R
2005 Dividends Cash Stock 0.00 0.00 0.00 0.00 0.00 0.00 15.00 0.00 3.75 0.00
2006 Closing Dividends
First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Average
Cash Stock 697.00 771.33 0.00 0.00 10.66% 990.67 1083.19 0.00 0.00 9.34% 1030.07 975.88 0.00 0.00 -5.26% 930.02 965.00 5.00 0.00 4.30% 911.94 948.85 1.25 0.00 4.76%
Opening 1275.98 1586.33 1513.33 1621.67 1499.33
Opening 1696.97 1405.84 1640.00 1580.93
2007 Closing Dividends Return Cash Stock 1487.67 0.00 0.00 16.59% 1541.33 0.00 0.00 -2.84% 1498.33 0.00 0.00 -0.99% 1721.67 10.00 0.00 6.78% 1562.25 2.50 0.00 4.89% 2008 Closing Dividends Return Cash Stock 1600.97 0.00 -5.66% 1448.50 0.00 3.03% 7.00 0.00 0.00% 1524.74 7.00 0.00 -0.01
1.11 1.09 0.95 1.04 1.05
7.22%
R.R
Act. Risk
1.17 0.97 0.99 1.07 1.05
8.85%
R.R
Act. Risk
0.94 1.03 1.00 0.99
4.41%
Returns Sheet Engro Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -5.42% -0.31% -6.94% 18.04% 1.34%
2002 11.46% -6.75% 1.75% 25.05% 7.88%
2003 -3.40% 1.54% -2.13% 14.49% 2.62%
Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -9.09% 13.76% -12.18% 12.11% 1.15%
2002 10.73% 1.45% 5.86% 4.91% 5.74%
2003 -3.03% 29.58% 4.21% 6.44% 9.30%
Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -9.71% 1.24% -4.76% -2.33% -3.89%
2002 9.91% 3.98% -2.55% 6.73% 4.52%
2003 4.35% 4.19% 8.14% 7.23% 5.98%
Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -2.17% -0.42% -7.01% -4.18% -3.44%
2002 18.51% -3.81% 11.85% 2.49% 7.26%
2003 -1.43% 4.08% 6.28% 1.25% 2.55%
Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -2.33% -0.76% 4.21% -0.21% 0.23%
2002 4.38% 2.55% 0.35% 4.44% 2.93%
2003 -2.51% 7.25% 3.51% 13.36% 5.40%
2004 1.92% -0.27% -2.28% 21.25% 5.16%
2005 -0.12% -3.76% 6.57% 12.69% 3.84%
Lucky Cements 2004 11.10% 6.89% -1.24% 2.72% 4.87%
2005 6.01% -2.31% 5.07% 16.22% 6.25%
MCB 2004 0.19% 1.18% 2.46% 7.87% 2.93%
2005 5.21% 7.38% 19.05% 11.76% 10.85%
2004 -0.36% -3.47% -0.84% 4.70% 0.01%
2005 11.02% -1.07% -0.09% 2.63% 3.12%
PSO
NESTLE 2004 7.94% -0.07% -1.37% 5.37% 2.97%
2005 0.33% 0.56% 1.41% 5.33% 1.91%
2006 7.38% -5.11% 3.55% -0.21% 1.40%
2007 3.14% 12.19% 1.76% 1.82% 4.73%
2008 6.65% -3.98% -14.05%
2006 13.03% -4.78% -0.89% -15.38% -2.00%
2007 10.11% 21.17% -2.51% -3.10% 6.42%
2008 6.42% -9.73% -12.88%
2006 9.79% -1.32% 7.83% 0.01% 4.08%
2007 3.83% 11.20% -2.45% 7.55% 5.03%
2008 1.63% -7.25% -9.94%
2006 -3.51% -0.98% 0.30% 0.65% -0.88%
2007 7.38% 6.39% -1.45% 3.85% 4.04%
2008 10.79% -7.87% -12.82%
2006 10.66% 9.34% -5.26% 4.30% 4.76%
2007 16.59% -2.84% -0.99% 6.78% 4.89%
2008 -5.66% 3.03% #DIV/0!
-3.79%
-5.40%
-5.19%
-3.30%
#DIV/0!
Year
Opening prices 2001 2002 2003 2004 2005 2006 2007 2008
58.75 64.49 85.70 97.43 129.90 185.68 223.75 251.62
Lucky Cements Year Returns 2001 1.15% 2002 5.74% 2003 9.30% 2004 4.87% 2005 6.25% 2006 -2.00% 2007 6.42% 2008 -5.40%
Engro Closing prices 57.32 67.85 85.76 100.47 132.83 186.06 231.82 244.51
Returns 1.34% 7.88% 2.62% 5.16% 3.84% 1.40% 4.73% -3.79%
Year
Lucky Cements Opening prices Closing prices Returns 2001 6.80 6.68 2002 9.40 9.76 2003 15.76 16.88 2004 35.10 36.44 2005 49.22 52.83 2006 100.03 98.03 2007 103.53 108.25 2008 109.68 104.27
Year
Opening prices
1.15% 5.74% 9.30% 4.87% 6.25% -2.00% 6.42% -5.40%
MCB Closing prices
Returns
2001 2002 2003 2004 2005 2006 2007 2008
Year
25.48 26.69 39.29 51.68 92.46 228.26 319.43 352.57
24.40 27.88 40.80 52.29 101.55 234.79 332.25 335.10
PSO Opening prices Closing prices Returns 2001 129.07 124.80 2002 154.39 164.31 2003 235.26 241.68 2004 270.21 270.06 2005 374.66 385.50 2006 348.42 338.68 2007 364.02 373.40
-3.89% 4.52% 5.98% 2.93% 10.85% 4.08% 5.03% -5.19%
-3.44% 7.26% 2.55% 0.01% 3.12% -0.88% 4.04%
2008
Year
432.18
418.11
Nestle Opening prices Closing prices Returns 2001 144.25 144.58 2002 184.79 190.17 2003 240.54 253.67 2004 461.58 473.58 2005 537.90 544.74 2006 911.94 948.85 2007 1499.33 1562.25 2008 1580.93 1524.74
-3.30%
0.23% 2.93% 5.40% 2.97% 1.91% 4.76% 4.89% -0.87%
Market returns 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Engro Price trend 275 250 225 200 175 150 125 100 75 50 25 0 Row 3
2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
Engro Returns 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% -1.00% -2.00% -3.00% -4.00% Row 3
2001
2002
2003
2004
2005
2006
2007
Lucky Cements price Trend 110.00 100.00 90.00
Lucky Cements price Trend 110.00 100.00 90.00 80.00 70.00 60.00 50.00 40.00 30.00 20.00 10.00 0.00 2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
Lucky Cements Returns 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% -2.00% -4.00% -6.00% 2000
2002
2004
2006
MCB price trend 375.00 350.00 325.00 300.00 275.00 250.00
2008
MCB price trend 375.00 350.00 325.00 300.00 275.00 250.00 225.00 200.00 175.00 150.00 125.00 100.00 75.00 50.00 25.00 0.00 2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
MCB Returns 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% -2.00% -4.00% -6.00% Row 101
Row 102
Row 103
Row 104
Row 105
Row 106
PSO Price Trend 450.00 400.00 350.00 300.00 250.00 200.00
Row 107
400.00 350.00 300.00 250.00 200.00 150.00 100.00 50.00 0.00 2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
PSO Returns 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% -1.00% -2.00% -3.00% -4.00% 2000
2002
2004
2006
Nestle Price Trend 1600.00 1400.00 1200.00 1000.00 800.00 600.00 400.00
2008
1200.00 1000.00 800.00 600.00 400.00 200.00 0.00 2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
Nestle Returns 5.50% 5.00% 4.50% 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% -0.50% -1.00% 2000
2002
2004
2006
2008
rice trend
2004
es
2005
2006
2007
2008
Closing prices
o Returns
004
Returns
2005
2006
2007
ents price Trend
2008
ents price Trend
2004
prices
2005
2006
2007
2008
Closing prices
ments Returns
4
Returns Linear regression, Returns
2006
price trend
2008
price trend
2004
prices
2005
2006
2007
2008
Closing prices
B Returns
w
Returns
Row 105
Row 106
Price Trend
Row 107
Row 108
2004
prices
2005
2006
2007
2008
Closing prices
O Returns
Returns Linear regression, Returns
2006
Price Trend
2008
2004
prices
2005
2006
2007
2008
Closing prices
le Returns
Returns Linear regression, Returns
2006
2008
Expected Risk & Return Engro
S.No 1 2 3 4 5 Total
Return (R) 10.00% 5.00% 3.00% -5.00% -10.00%
Probability (P) 0.08 0.12 0.35 0.2 0.25 1
Expected Return ̅ṜA=∑RP 0.01 0.01 0.01 -0.01 -0.03 -1.05%
R-ṜA 0.09 0.04 0.02 -0.04 -0.08
δA = √∑(R-Ṝ
Muslim Commercial Bank
S.No 1 2 3 4 5 Total
Return (R) 10.00% 8.00% 5.00% 2.00% -5.00%
Probability (P) 0.1 0.12 0.2 0.4 0.18 1
Expected Return ̅ṜB=∑RP 0.01 0.01 0.01 0.01 -0.01 2.86%
R-ṜB 0.09 0.07 0.04 0.01 -0.04
δB = √∑(R-Ṝ
Lucky Cements
S.No 1 2 3 4 5 Total
Return (R) 5.00% 3.00% 1.00% -2.00% -5.00%
Probability (P) 0.1 0.2 0.4 0.25 0.05 1
Expected Return ̅ṜC=∑RP 0.01 0.01 0 -0.01 0 0.75%
R-ṜC 0.05 0.02 0.01 -0.02 -0.05
δC = √∑(R-Ṝ
Pakistan State Oil
S.No 1 2 3 4 5 Total
Return (R) 10.00% 7.00% 3.00% -5.00% -15.00%
Probability (P) 0.1 0.15 0.4 0.25 0.1 1
Expected Return ̅ṜD=∑RP 0.01 0.01 0.01 -0.01 -0.02 0.50%
R-ṜD 0.09 0.06 0.02 -0.04 -0.14
δD = √∑(R-Ṝ
Nestle Pakistan
S.No 1 2 3 4 5 Total
Return (R) 15.00% 10.00% 5.00% 2.00% -2.00%
Probability (P) 0.1 0.15 0.3 0.4 0.05 1
Expected Return ̅ṜE=∑RP 0.02 0.02 0.02 0.01 0 5.20%
R-ṜE 0.14 0.09 0.04 0.01 -0.02
δE = √∑(R-Ṝ
Return Expected Risk (δA)
(R-ṜA)2
(R-ṜA)2P
0.008464 0.001936 0.000380 0.001600 0.005625
δA = √∑(R-ṜA)2P
0 0 0 0 0 0 5.26%
Expected Risk (δB)
(R-ṜB)2
(R-ṜB)2P
0.008100 0.004956 0.001600 0.000144 0.001681
δB = √∑(R-ṜB)2P
0 0 0 0 0 0 4.57%
Expected Risk (δC)
(R-ṜC)2 0.002025 0.000576 0.000036 0.000225 0.002256
δC = √∑(R-ṜC)2P
(R-ṜC)2P 0 0 0 0 0 0 2.24%
Expected Risk (δD)
(R-ṜD)2
(R-ṜD)2P
0.008100 0.003540 0.000324 0.001406 0.018225
δD = √∑(R-ṜD)2P
0 0 0 0 0 0 6.04%
Expected Risk (δE)
(R-ṜE)2 0.018225 0.007225 0.001225 0.000144 0.000361
δE = √∑(R-ṜE)2P
(R-ṜE)2P 0 0 0 0 0 0 5.79%
Portfolio Risk & Return Let Returns of; Engro = A MCB = B L.C. = C PSO = D Nestle = E
Expected risk are: 5.26% 4.57% 2.24% 6.04% 5.79%
-1.05% 2.86% 0.75% 0.50% 5.20%
Expected Return of the portfolio =
1.65%
So, if I want to make a portfolio of 2 securities each, the number of portfolios I will have are: Portfolios = {AB,AC,AD,AE,BC,BD,BE,CD,CE, DE} So examining all of the above stated portfolios one by one:
1. Engro with MCB S. no 1 2 3 4 5 Total
A 0.1000 0.0500 0.0300 -0.0500 -0.1000 0.0300
B 0.1000 0.0800 0.0500 0.0200 -0.0500 0.2000
A.B 0.0100 0.0040 0.0015 -0.0010 0.0050 0.0195
A2 0.0100 0.0025 0.0009 0.0025 0.0100 0.0259
B2 0.0100 0.0064 0.0025 0.0004 0.0025 0.0218
A.C 0.0050 0.0015 0.0003 0.0010 0.0050 0.0128
A2 0.0100 0.0025 0.0009 0.0025 0.0100 0.0259
C2 0.0025 0.0009 0.0001 0.0004 0.0025 0.0064
A.D
A2
D2
Expected Portfolio Risk (δP1) r1 =
0.97
δA = δB = δP1 =
5.26% 4.57% 0.038%
2. Engro with MCB S. no 1 2 3 4 5 Total
A 0.1000 0.0500 0.0300 -0.0500 -0.1000
C 0.0500 0.0300 0.0100 -0.0200 -0.0500
Expected Portfolio Risk (δP2) r2 =
0.99
δA =
5.26%
δC =
2.24%
δP2 =
0.022%
3. Engro with PSO S. no
A
D
1 2 3 4 5 Total
10.00% 5.00% 3.00% -5.00% -10.00% 3.00%
10.00% 7.00% 3.00% -5.00% -15.00% 0.00%
0.0100 0.0035 0.0009 0.0025 0.0150 0.0319
0.0100 0.0025 0.0009 0.0025 0.0100 0.0259
0.0100 0.0049 0.0009 0.0025 0.0225 0.0408
A.E 0.0150 0.0050 0.0015 -0.0010 0.0020 0.0225
A2 0.0100 0.0025 0.0009 0.0025 0.0100 0.0259
E2 0.0225 0.0100 0.0025 0.0004 0.0004 0.0358
B.C 0.0050 0.0024 0.0005 -0.0004 0.0025 0.0100
B2 0.0100 0.0064 0.0025 0.0004 0.0025 0.0218
C2 0.0025 0.0009 0.0001 0.0004 0.0025 0.0064
B.D 0.0100 0.0056 0.0015
B2 0.0100 0.0064 0.0025
D2 0.0100 0.0049 0.0009
Expected Portfolio Risk (δP3) r3 = δA = δD = δP3 =
0.98 5.26% 6.04% 0.051%
4. Engro with Nestle S. no 1 2 3 4 5 Total
A 10.00% 5.00% 3.00% -5.00% -10.00% 3.00%
E 15.00% 10.00% 5.00% 2.00% -2.00% 30.00%
Expected Portfolio Risk (δP4) r4 = 0.97 δA =
5.26%
δE =
5.79%
δP3 =
0.048%
5. MCB with Lucky Cements S. no 1 2 3 4 5 Total Expected Portfolio Risk (δP5) r5 = 0.99 δB =
4.57%
δC = δP5 =
2.24%
B 10.00% 8.00% 5.00% 2.00% -5.00% 20.00%
C 5.00% 3.00% 1.00% -2.00% -5.00% 2.00%
0.018%
6. MCB with PSO S. no 1 2 3
B 10.00% 8.00% 5.00%
D 10.00% 7.00% 3.00%
4 5 Total
2.00% -5.00% 20.00%
-5.00% -15.00% 0.00%
-0.0010 0.0075 0.0236
0.0004 0.0025 0.0218
0.0025 0.0225 0.0408
B.E 0.0150 0.0080 0.0025 0.0004 0.0010 0.0269
B2 0.0100 0.0064 0.0025 0.0004 0.0025 0.0218
E2 0.0225 0.0100 0.0025 0.0004 0.0004 0.0358
C2 0.0025 0.0009 0.0001 0.0004 0.0025 0.0064
D2 0.0100 0.0049 0.0009 0.0025 0.0225 0.0408
C2 0.0025 0.0009 0.0001 0.0004 0.0025
E2 0.0100 0.0049 0.0009 0.0025 0.0225
Expected Portfolio Risk (δP6) r6 =
0.99
δB =
4.57%
δD =
6.04%
δP6 =
0.045%
7. MCB with Nestle S. no 1 2 3 4 5 Total
B 10.00% 8.00% 5.00% 2.00% -5.00% 20.00%
E 15.00% 10.00% 5.00% 2.00% -2.00% 30.00%
Expected Portfolio Risk (δP7) r7 = 0.95 δB =
4.57%
δE = δP7 =
5.79% 0.042%
8. Lucky Cements with PSO S. no 1 2 3 4 5 Total Expected Portfolio Risk (δP8) r8 = 0.99 δC =
2.24%
δD =
6.04%
δP8 =
0.027%
C 5.00% 3.00% 1.00% -2.00% -5.00% 2.00%
D 10.00% 7.00% 3.00% -5.00% -15.00% 0.00%
C.D. 0.0050 0.0021 0.0003 0.0010 0.0075 0.0159
9. Lucky Cements with Nestle S. no 1 2 3 4 5
C 5.00% 3.00% 1.00% -2.00% -5.00%
E 10.00% 7.00% 3.00% -5.00% -15.00%
C.E. 0.0050 0.0021 0.0003 0.0010 0.0075
Total
2.00%
0.00%
0.0159
0.0064
0.0408
D.E. 0.0050 0.0021 0.0003 0.0010 0.0075 0.0159
D2 0.0025 0.0009 0.0001 0.0004 0.0025 0.0064
E2 0.0100 0.0049 0.0009 0.0025 0.0225 0.0408
Expected Portfolio Risk (δP9) r9 =
0.99
δC =
2.24%
δE = δP9 =
5.79% 0.026%
10. PSO with Nestle S. no 1 2 3 4 5 Total
D 5.00% 3.00% 1.00% -2.00% -5.00% 2.00%
E 10.00% 7.00% 3.00% -5.00% -15.00% 0.00%
Expected Portfolio Risk (δP10) r10 = δC = δE =
6.04%
δP10 =
0.056%
0.99 5.79%
Risk on A,A B,B C,C D,D E,E
Return: 1 1 1 1 1
0 0.01 0 0 0.02
Total Portfolio Risk & Return w1w1r1.1s1*s1* w2w1r2.1s2*s1* w3w1r3.1.s3*.s1* w4w1.r4.1s4*.s1* w5w1.r5.1.s5*.s1* w1= w2= w3= w4=
w1w2.r1.2s1*.s2* w2.w2.r2.2.s2*.s2* w3.w2.r3.2.s3*s2* w4w2r4.2.s4*s2* w5.w2.r55.2.s5*.s2* 0.2 0.2 0.2 0.2
s1*= s2*= s3*= s4*=
w1w3.r1.3s1*.s3* w2.w3.r2.3.s2*.s3* w3w3.r3.33s3*.s3* w4.w3.r4.3.s4*.s3* w5.w3.r5.3s5*.s3*
4.57% A,A 4.57% A,B 2.24% A,C 6.04% A,D
w1.w4.r1.4.s1*.s4* w2.w4.r2.4.s2*s4* w3.w4.r3.4s3*.s4* w4w4.r4.4.s4.*s4* w5.w4.r5.4.s5*.s4*
0.038% B,B 0.022% B,C 0.051% B,D 0.048% B,E
w5=
0.2
s5*=
5.79% A,E Portfolio Risk =
0.018% C,C 1.13%
w4.r1.4.s1*.s4* w4.r2.4.s2*s4* w4.r3.4s3*.s4* w4.r4.4.s4.*s4* w4.r5.4.s5*.s4*
w1.5.r1.5.s1*s5* w2.w5r2.5.s2*.s5* w3.w5.r3.5.s3*.s5* w4.w5.r4.5.s4*.s5* w5.w5.r5.5.s5*.s5*
0.045% C,D 0.042% C,E 0.027% D,D 0.026% D,E
1.00 1.00 1.00 1.00
0.056% E,E
1.00
Forecasted Income Statement Engro Chemicals
Income Statement Particulars Net sales Less: Cost of Sales Gross Profit Less: Selling & Distribution Expenses Other Income EBIT Financial Charges EBT Taxation EAT Dividend @ rs 7 per share Retained Earnings Earning Per Share: EBIT/No. of Shares O-S Return on Equity: 15,481,917 EAT/No. of shares O-S
(Rs in ,000) Current Year Amount Percent 23,183,222.00 100.00% -18,262,793.00 78.78% 4,920,429.00 21.22% -1,641,724.00 7.08% 1,831,260.00 7.90% 5,109,965.00 22.04% -535,023.00 2.31% 4,574,942.00 19.73% -1,080,929.00 4.66% 3,494,013.00 15.07% 2,100,000.00 1,394,013.00
28% Rise
7 P/S
17.00 22.57%
Nestle Pakistan Income Statement Particulars Net sales Less: Cost of Sales Gross Profit Less: Operating Expenses Other Income EBIT Financial Charges EBT Taxation EAT Dividend @ rs 10 per share Retained Earnings Earning Per Share: EBIT/No. of Shares O-S Return on Equity: EAT/No. of shares O-S
(Rs in ,000) Current Year Amount Percent 28,235,393 100.00% -20,291,270 71.86% 7,944,123 28.14% 4,809,933 -17.04% 0 0.00% 3,134,190 11.10% -584,434 2.07% 2,549,756 9.03% -744,544 2.64% 1,805,212 6.39% 300,000 1,505,212
30% Rise
10 P/S
10.45 43.90%
Muslim Commercial Bank Forecasted
Current
Chg (Rs)
Interest earned Interest expensed Net interest income Provision against NPLs Total Provisions
28,078,064 7,757,920 20,320,144 1,996,410 2,206,841
23,689,445 5,750,881 17,938,564 1,441,713 1,572,825
4,388,619 2,007,039 2,381,580 554,697 634,016
Net interest income after provision Total non-interest income Total non-interest expenses PBT Taxation PAT Basic/Diluted EPS
18,113,303 4,501,380 6,318,661 16,296,022 4,672,663 11,623,359 18.5
16,365,739 5,075,107 5,059,882 16,380,964 5,133,584 11,247,380 17.5
1,747,564 -573,727 1,258,779 -84,942 -460,921 375,979 1
Forecasted Amount Percent 29,674,524.16 100 23,376,375.04 -78.78% 6,298,149.12 21.22% 2,101,406.72 -7.08% 2,344,012.80 7.90% 6,540,755.20 22.04% 684,829.44 -2.31% 5,855,925.76 19.73% 1,383,589.12 -4.66% 4,472,336.64 15.07% 2,100,000.00 2,372,336.64 21.80 28.89%
Forecasted Amount Percent 36,706,010.90 100 26,378,651.00 -71.86% 10,327,359.90 28.14% -6,252,912.90 17.04% 0.00 0.00% 4,074,447.00 11.10% 759,764.20 -2.07% 3,314,682.80 9.03% 967,907.20 -2.64% 2,346,775.60 6.39% 300,000 2,046,775.60 13.58 78.23%
Chg (%)
19% 35% 13% 38% 40%
11% -11% 25% -1% -9% 3% 6%
Dividends of year 2008
Do Engro MCB Lukcy Cements PSO Nestle
5 4.5 1.25 6 7
R.O.E 22.57% 23.00% 15.00% 31.00% 48.20%
Calculated g's Name of the Company
Calculated g 11.29% 12.65% 13.13% 12.40% 14.46%
Engro MCB Lukcy Cements PSO Nestle
Calculated Dn According to formula Calculated D1
Name of the Company
Engro MCB Lukcy Cements PSO Nestle
5.56 5.07 1.41 6.74 8.01
MARKET RATE(Ke)
15.00%
FORECASTED PRICES OF SECURITIES FOR 2009 Name of the Company
Engro MCB Lukcy Cements PSO Nestle
Forecasted Prices Rs149.78 Rs215.71 Rs75.42 Rs259.38 Rs1,483.74
Market price 170 230 80 280 1600
ula
TIES FOR 2009 Deviation Rs20.22 Rs14.29 Rs4.58 Rs20.62 Rs116.26
%age 13.50% 6.62% 6.08% 7.95% 7.84%
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
69 77.75 63.6
77.75 63.6 57.6
70.12
66.32
57.6 61.65 57.55
61.65 57.55 57.05
58.93
58.75
57.05 49.75 53.95
49.75 53.95 45.9
53.58
49.87
45.9 56.05 55.2
56.05 55.2 51.75
52.38
54.33
Dividend Cash Stock
7.50
Engro Year 2002 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
51.75 60.25 75.55
60.25 75.55 73.25
62.52
69.68
73.25 64.85 59.6
64.85 59.6 59.9
65.90
61.45
59.9 59.7 63.65
59.7 63.65 63.1
61.08
62.15
63.1 70 72.25
70 72.25 92.05
68.45
78.10
Engro
Dividend Cash Stock
7.5
Year 2003 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
92.05 87.8 83.1
87.8 83.1 83.1
87.65
84.67
83.1 79.45 81.35
79.45 81.35 86.85
81.30
82.55
86.85 91.65 95.9
91.65 95.9 81
91.47
89.52
81 80.4 85.7
80.4 85.7 92.8
82.37
86.30
Dividend Cash Stock
8
Engro Year 2004 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
92.8 97.35 95.7
97.35 95.7 98.3
95.28
97.12
98.3 99 98.25
99 98.25 97.5
98.52
98.25
97.5 94.9 94.9
94.9 94.9 90.95
95.77
93.58
90.95 98.5 111
98.5 111 129.3
100.15
112.93
Engro Year 2005
Dividend Cash Stock
8.5
Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
129.3 121.95 127.75
121.95 127.75 128.85
126.33
126.18
128.85 119 113.45
119 113.45 115.25
120.43
115.90
115.25 116 122.9
116 122.9 138.5
118.05
125.80
138.5 155.9 170
155.9 170 164.45
154.80
163.45
Dividend Cash Stock
11
Engro Year 2006 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
164.45 196.6 228.8
196.6 228.8 208
196.62
211.13
208 194.5 176.5
194.5 176.5 169.4
193.00
180.13
169.4 176.6 180.1
176.6 180.1 179.1
175.37
178.60
179.1 181.35 172.8
181.35 172.8 169
177.75
174.38
Dividend Cash Stock
3
3
3
Engro Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
169 185.4 181.45
185.4 181.45 185.8
178.62
184.22
185.8 204.95 209.78
204.95 209.78 253
200.18
222.58
253 252.5 227
252.5 227 259.9
244.17
246.47
259.9 279.5 276.75
279.5 276.75 265.75
272.05
274.00
2
2
3
Engro Year 2008 Month
Opening
Closing
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
265.75 288.8 320
288.8 320 323.9
291.52
310.90
323.9 329.05 279.01
329.05 279.01 280.81
310.65
296.29
280.81 208.96 181.8
208.96 181.8 180.44
223.86
190.40
180.44
180.44
180.44
180.44
Dividend Cash Stock
2
2
Return
-5.42%
-0.31%
-6.94%
18.04%
Return
11.46%
-6.75%
1.75%
25.05%
Return
-3.40%
1.54%
-2.13%
14.49%
Return
1.92%
-0.27%
-2.28%
21.25%
Return
-0.12%
-3.76%
6.57%
12.69%
Return
7.38%
-5.11%
3.55%
-0.21%
Return
3.14%
12.19%
1.76%
1.82%
Return
6.65%
-3.98%
-14.05%
0.00%
Risk & Returns Engro Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period
Opening 70.12 58.93 53.58 52.38 58.75
Opening 62.52 65.90 61.08 68.45 64.49
Opening 87.65 81.30 91.47 82.37 85.70
Opening 95.28 98.52 95.77 100.15 97.43
Opening 126.33 120.43 118.05 154.80 129.90
Opening
2001 Closing Dividends Cash Stock 66.32 0 0 58.75 0 0 49.87 0 0 54.33 7.5 0 57.32 1.88 0.00
Return
R.R
Act. Risk
-5.42% -0.31% -6.94% 18.04% 1.34%
0.95 1.00 0.93 1.18 1.01
11.49%
R.R
Act. Risk
1.11 0.93 1.02 1.25 1.08
13.66%
R.R
Act. Risk
0.97 1.02 0.98 1.14 1.03
8.18%
R.R
Act. Risk
1.02 1.00 0.98 1.21 1.05
10.87%
2002 Closing Dividends Return Cash Stock 69.68 0 0 11.46% 61.45 0 0 -6.75% 62.15 0 0 1.75% 78.10 7.5 0 25.05% 67.85 1.88 0.00 7.88% 2003 Closing Dividends Return Cash Stock 84.67 0 0 -3.40% 82.55 0 0 1.54% 89.52 0 0 -2.13% 86.30 8 0 14.49% 85.76 2.00 0.00 2.62% 2004 Closing Dividends Return Cash Stock 97.12 0 0 1.92% 98.25 0 0 -0.27% 93.58 0 0 -2.28% 112.93 8.5 0 21.25% 100.47 2.13 0.00 5.16% 2005 Closing Dividends Return Cash Stock 126.18 0 0 -0.12% 115.90 0 0 -3.76% 125.80 0 0 6.57% 163.45 11 0 12.69% 132.83 2.75 0.00 3.84%
R.R
Act. Risk
1.00 0.96 1.07 1.13 1.04
7.29% 7.29%
2006 Closing Dividends
R.R
Act. Risk
Return
First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Average
196.62 193.00 175.37 177.75 185.68
Opening 178.62 200.18 244.17 272.05 223.75 Opening 291.52 310.65 223.86 275.34
211.13 180.13 178.60 174.38 186.06
Cash Stock 0 0 7.38% 3 0 -5.11% 3 0 3.55% 3 0 -0.21% 2.25 0.00 1.40%
2007 Closing Dividends Return Cash Stock 184.22 0 0 3.14% 222.58 2 0 12.19% 246.47 2 0 1.76% 274.00 3 0 1.82% 231.82 1.75 0.00 4.73% 2008 Closing Dividends Return Cash Stock 310.90 0 0 6.65% 296.29 2 0 -3.98% 190.40 2 0 -14.05% 265.86 1.33 0.00 -0.04
1.07 0.95 1.04 1.00 1.01
5.34%
R.R
Act. Risk
1.03 1.12 1.02 1.02 1.05
5.02%
R.R
Act. Risk
1.07 0.96 0.86 0.96
10.35%
Lucky Cements Year 2001 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
8.4 7.15 7
7.15 7 6.35
7.52
6.83
6.35 6.65 7.35
6.65 7.35 6.9
6.78
6.97
6.9 6.3 6.1
6.3 6.1 4.55
6.43
5.65
4.55 7.15 7.7
7.15 7.7 6.9
6.47
7.25
Dividend Cash Stock
0.75
Lucky Cements Year 2002 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
6.9 11.9 10.55
11.9 10.55 10.05
9.78
10.83
10.05 9.9 7.55
9.9 7.55 8.2
9.17
8.55
8.2 8.7 9.55
8.7 9.55 9.75
8.82
9.33
9.75 9.75 10.05
9.75 10.05 11.2
9.85
10.33
Lucky Cements
Dividend Cash Stock
0.75
Year 2003 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
11.2 9.55 9.8
9.55 9.8 10.05
10.18
9.80
10.05 10.7 13.9
10.7 13.9 18.05
11.55
14.22
18.05 21.25 22.5
21.25 22.5 20.65
20.60
21.47
20.65 18.6 22.85
18.6 22.85 24.65
20.70
22.03
Dividend Cash Stock
0.08
0.75
Lucky Cements Year 2004 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
24.65 27.95 25.8
27.95 25.8 33.35
26.13
29.03
33.35 39.05 43.7
39.05 43.7 39.1
38.70
40.62
39.1 39.65 37.75
39.65 37.75 37.65
38.83
38.35
37.65 33.65 38.95
33.65 38.95 40.65
36.75
37.75
Lucky Cements Year 2005
Dividend Cash Stock
0.75
Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
40.65 41.9 48.1
41.9 48.1 48.5
43.55
46.17
48.5 45.4 35.9
45.4 35.9 45.5
43.27
42.27
45.5 44.8 45.75
44.8 45.75 52.4
45.35
47.65
52.4 67.5 74.25
67.5 74.25 83.9
64.72
75.22
Dividend Cash Stock
Lucky Cements Year 2006 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
83.9 99.9 111.25
99.9 111.25 122.35
98.35
111.17
122.35 109.85 98.5
109.85 98.5 103.55
110.23
103.97
103.55 107.25 97.85
107.25 97.85 100.8
102.88
101.97
100.8 94.15 71.05
94.15 71.05 59.9
88.67
75.03
Dividend Cash Stock
1.00
Lucky Cements Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
59.9 66.5 65.55
66.5 65.55 79.3
63.98
70.45
79.3 104.35 110.15
104.35 110.15 137.75
97.93
117.42
137.75 130.2 110.15
130.2 110.15 128.25
126.03
122.87
128.25 127.25 123.05
127.25 123.05 116.5
126.18
122.27
1.25
Lucky Cements Year 2008 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
116.5 115.5 130.1
115.5 130.1 139.75
120.70
128.45
139.75 143.2 108.45
143.2 108.45 97.93
130.47
116.53
97.93 77.9 57.77
77.9 57.77
77.87
67.84
#DIV/0!
#DIV/0!
Dividend Cash Stock
1.25
Return
-9.09%
13.76%
-12.18%
12.11%
Return
10.73%
1.45%
5.86%
4.91%
Return
-3.03%
29.58%
4.21%
6.44%
Return
11.10%
6.89%
-1.24%
2.72%
Return
6.01%
-2.31%
5.07%
16.22%
Return
13.03%
-4.78%
-0.89%
-15.38%
Return
10.11%
21.17%
-2.51%
-3.10%
Return
6.42%
-9.73%
-12.88%
#DIV/0!
Lucky Cements Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period
Opening 7.52 6.78 6.43 6.47 6.80
Opening 9.78 9.17 8.82 9.85 9.40
Opening 10.18 11.55 20.60 20.70 15.76
Opening 26.13 38.70 38.83 36.75 35.10
Opening 43.55 43.27 45.35 64.72 49.22
Opening
2001 Closing Dividends Cash Stock 6.83 0 0 6.97 0.75 0 5.65 0 0 7.25 0 0 6.68 0.19 0.00
Return
R.R
Act. Risk
-9.09% 13.76% -12.18% 12.11% 1.15%
0.91 1.14 0.88 1.12 1.01
13.68%
R.R
Act. Risk
1.11 1.01 1.06 1.05 1.06
3.83%
R.R
Act. Risk
0.97 1.30 1.04 1.06 1.09
14.11%
R.R
Act. Risk
1.11 1.07 0.99 1.03 1.05
5.32%
2002 Closing Dividends Return Cash Stock 10.83 0.00 0.00 10.73% 8.55 0.75 0.00 1.45% 9.33 0.00 0.00 5.86% 10.33 0.00 0.00 4.91% 9.76 0.19 0.00 5.74% 2003 Closing Dividends Return Cash Stock 9.80 0.00 0.08 -3.03% 14.22 0.75 0.00 29.58% 21.47 0.00 0.00 4.21% 22.03 0.00 0.00 6.44% 16.88 0.19 0.02 9.30% 2004 Closing Dividends Return Cash Stock 29.03 0.00 0.00 11.10% 40.62 0.75 0.00 6.89% 38.35 0.00 0.00 -1.24% 37.75 0.00 0.00 2.72% 36.44 0.19 0.00 4.87% 2005 Closing Dividends Return Cash Stock 46.17 0.00 0.00 6.01% 42.27 0.00 0.00 -2.31% 47.65 0.00 0.00 5.07% 75.22 0.00 0.00 16.22% 52.83 0.00 0.00 6.25%
R.R
Act. Risk
1.06 0.98 1.05 1.16 1.06
7.62% 7.62%
2006 Closing Dividends
R.R
Act. Risk
Return
First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Average
98.35 110.23 102.88 88.67 100.03
Opening 63.98 97.93 126.03 126.18 103.53 Opening 120.70 130.47 77.87 109.68
111.17 103.97 101.97 75.03 98.03
Cash 0.00 1.00 0.00 0.00 0.25
Stock 0.00 0.00 0.00 0.00 0.00
2007 Closing Dividends Cash Stock 70.45 0.00 0.00 117.42 1.25 0.00 122.87 0.00 0.00 122.27 0.00 0.00 108.25 0.31 0.00 2008 Closing Dividends Cash Stock 128.45 0.00 0.00 116.53 1.25 0.00 67.84 0.00 0.00 104.27 0.42 0.00
13.03% -4.78% -0.89% -15.38% -2.00%
1.13 0.95 0.99 0.85 0.98
11.74%
Return
R.R
Act. Risk
10.11% 21.17% -2.51% -3.10% 6.42%
1.10 1.21 0.97 0.97 1.06
11.57%
Return
R.R
Act. Risk
6.42% -9.73% -12.88% -0.05
1.06 0.90 0.87 0.95
10.35%
MCBL Year 2001 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
32.4 31.45 28.35
30.73
Dividend Cash Stock 31.45 28.35 23.45
27.75 23.45 26.7 26.4
25.52
26.7 26.3 24.5
25.83 24.35 20.8 23.1
22.75
21 23.4 20.6
21.67 20.75 25.5 22.45
22.90
25.5 22.85 18.75
22.37
MCBL Year 2002 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 18.8 25.8 24
22.87
25.45 23.95 26
25.13 26.6 29.45 24.4
26.82
29.65 24.9 29.1
27.88 29.1 23.9 25.35
26.12
23.9 25.35 27.1
25.45 27.1 32.75 33.05
30.97
Dividend Cash Stock
32.75 33.05 33.35
33.05
MCBL
Year 2003 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
33.35 34.1 33.68
33.71
Dividend Cash Stock 34.1 33.68 33.25
33.68 33.25 33.7 35.65
34.20
1.5 33.7 35.65 37.55
35.63 37.55 42.8 54.75
45.03
42.8 54.75 44.8
47.45 44.8 41.9 46
44.23
1.25 41.9 46 51.4
46.43
1
MCBL Year 2004 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
51.4 54.15 48.7
51.42
54.15 48.7 48.7
50.52 48.7 56 57
53.90
1 56 57 50.6
54.53 50.6 50.7 52.9
51.40
50.7 52.9 49.9
51.17 49.9 48.7 51.4
50.00
Dividend Cash Stock
1.5 48.7 51.4 58.7
52.93
MCBL Year 2005
1
Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 58.7 65.5 78.4
67.53
Dividend Cash Stock 65.5 78.4 64
69.30
1.75
64 75.35 67.9
69.08
75.35 67.9 79.3
74.18 79.3 86.5 104.5
90.10
86.5 104.5 126.3
105.77
1.5
126.3 146.8 156.3
143.13
146.8 156.3 167.8
156.97
1
2
MCBL Year 2006 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
167.8 217 261
215.27
Dividend Cash Stock
217 261 225.05
234.35
2
225.05 238.4 198
220.48
238.4 198 210.3
215.57 210.3 222.75 214.35
215.80
2 222.75 214.35 255
230.70 255 274.5 255
261.50
2 274.5 255 246.1
258.53
1.5
1.5
MCBL Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
246.1 297.95 293
279.02
297.95 293 270.65
287.20 270.65 298 340.95
303.20
2.5 298 340.95 365
334.65
2.5
365 324.6 311.5
333.70
324.6 311.5 333
323.03 333 380.1 372.3
361.80
2.5 380.1 372.3 399.95
384.12
5
MCBL Year 2008 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
399.95 391.9 435
408.95
Dividend Cash Stock 391.9 435 415.5
414.13 415.5 415 274.41
368.30
1.5 415 274.41 326.38
338.60 326.38 271 244
3 271 244 242.72
280.46
252.57
#DIV/0!
#DIV/0!
Return
-9.71%
1.24%
-4.76%
-2.33%
Return
9.91%
3.98%
-2.55%
6.73%
Return
4.35%
4.19%
8.14%
7.23%
Return
0.19%
1.18%
2.46%
7.87%
Return
5.21%
7.38%
19.05%
11.76%
Return
9.79%
-1.32%
7.83%
0.01%
Return
3.83%
11.20%
-2.45%
7.55%
Return
1.63%
-7.25%
-9.94%
#DIV/0!
MCB Period
Opening
First Quarter (Avg) 30.73 Second Quarter 25.52 (Avg) Third Quarter (Avg) 22.75 Fourth Quarter22.90 (Avg) Average 25.48
Period
Opening
First Quarter (Avg) 22.87 Second Quarter 26.82 (Avg) Third Quarter (Avg) 26.12 Fourth Quarter30.97 (Avg) Average 26.69
Period
Opening
First Quarter (Avg) 33.71 Second Quarter 34.20 (Avg) Third Quarter (Avg) 45.03 Fourth Quarter44.23 (Avg) Average 39.29
Period
Opening
First Quarter (Avg) 51.42 Second Quarter 53.90 (Avg) Third Quarter (Avg) 51.40 Fourth Quarter50.00 (Avg) Average 51.68
Period
Opening
First Quarter (Avg) 67.53 Second Quarter 69.08 (Avg) Third Quarter (Avg) 90.10 Fourth Quarter 143.13 (Avg) Average 92.46
Period
Opening
Closing 27.75 25.83 21.67 22.37 24.40
Closing 25.13 27.88 25.45 33.05 27.88
Closing 33.68 35.63 47.45 46.43 40.80
2001 Dividends Cash 0.00 0.00 0.00 0.00 0.00
Stock 0.00 0.00 0.00 0.00 0.00
2002 Dividends Cash 0.00 0.00 0.00 0.00 0.00
Stock 0.00 0.00 0.00 0.00 0.00
2003 Dividends Cash 1.50 0.00 1.25 0.00 0.69
Stock 0.00 0.00 0.00 1.00 0.25
2004 Dividends Cash 1.00 0.00 1.50 0.00 0.63
Stock 0.00 0.00 0.00 1.00 0.25
69.30 74.18 105.77 156.97 101.55
2005 Dividends Cash 1.75 0.00 1.50 1.00 1.06
Stock 0.00 0.00 0.00 2.00 0.50
Closing
2006 Dividends
Closing 50.52 54.53 51.17 52.93 52.29
Closing
Return
R.R
-9.71% 1.24% -4.76% -2.33% -3.89%
0.90 1.01 0.95 0.98 0.96
Return
R.R
9.91% 3.98% -2.55% 6.73% 4.52%
1.10 1.04 0.97 1.07 1.05
Return
R.R
4.35% 4.19% 8.14% 7.23% 5.98%
1.04 1.04 1.08 1.07 1.06
Return
R.R
0.19% 1.18% 2.46% 7.87% 2.93%
1.00 1.01 1.02 1.08 1.03
Return
R.R
5.21% 7.38% 19.05% 11.76% 10.85%
1.05 1.07 1.19 1.12 1.11
Return
R.R
First Quarter (Avg) 215.27 Second Quarter 220.48 (Avg) Third Quarter 215.80 (Avg) Fourth Quarter 261.50 (Avg) Average 228.26
Period
234.35 215.57 230.70 258.53 234.79
Opening
Closing
First Quarter (Avg) 279.02 Second Quarter 303.20 (Avg) Third Quarter 333.70 (Avg) Fourth Quarter 361.80 (Avg) Average 319.43
287.20 334.65 323.03 384.12 332.25
Period
Opening
Closing
First Quarter (Avg) 408.95 Second Quarter 368.30 (Avg) Third Quarter 280.46 (Avg) Average 352.57
414.13 338.60 252.57 335.10
Cash 2.00 2.00 2.00 1.50 1.88 2007 Dividends Cash 2.50 2.50 2.50 5.00 3.13 2008 Dividends Cash 1.50 3.00 2.25
Stock 0.00 0.00 0.00 1.50 0.38
Stock 0.00 0.00 0.00 0.00 0.00
Stock 0.00 0.00 0.00 0.00
9.79% -1.32% 7.83% 0.01% 4.08%
1.10 0.99 1.08 1.00 1.04
Return
R.R
3.83% 11.20% -2.45% 7.55% 5.03%
1.04 1.11 0.98 1.08 1.05
Return
R.R
1.63% -7.25% -9.94% -0.05
1.02 0.93 0.90 0.95
Act. Risk
4.60%
Act. Risk
5.30%
Act. Risk
2.01%
Act. Risk
3.42%
Act. Risk
6.11%
Act. Risk
5.55%
Act. Risk
5.82% Act. Risk
6.06%
PSO Year 2001 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
143.6 144.75 142.25
Dividend Cash Stock
144.75 142.25 134.25
143.53
140.42 134.25 141.65 142.45
141.65 142.45 132.5
139.45
138.87 132.5 123.55 127.85
123.55 127.85 105.6
127.97
119.00 105.6 111.6 98.8
111.6 98.8 92.4
105.33
100.93
PSO Year 2002 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
92.4 109 148.5
109 148.5 157.15
116.63
138.22 157.15 164.15 128.85
164.15 128.85 140
150.05
144.33 140 140.8 202.65
140.8 202.65 197.3
161.15
180.25 197.3 195.5 176.35
195.5 176.35 211.5
189.72
194.45
PSO
Dividend Cash Stock
Year 2003 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
211.5 190.95 196.93
199.79
Dividend Cash Stock
190.95 196.93 202.9
196.93 202.9 205.4 213.7
207.33
205.4 213.7 228.3
215.80 228.3 280.95 290.2
266.48
280.95 290.2 278.5
283.22 278.5 250.45 273.3
267.42
250.45 273.3 288.55
270.77
PSO Year 2004 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
288.55 287.65 293.1
289.77
287.65 293.1 285.45
288.73 285.45 271 271
275.82
271 271 256.75
266.25 256.75 256 256.85
256.53
256 256.85 250.3
254.38 250.3 257.25 268.6
258.72
257.25 268.6 286.75
270.87
PSO Year 2005
Dividend Cash Stock
Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
286.75 310.6 412.45
336.60
Dividend Cash Stock
310.6 412.45 398
373.68 398 368 359
375.00
368 359 386
371.00 386 373.35 390.3
383.22
373.35 390.3 385
382.88 385 410 416.5
403.83
410 416.5 416.85
414.45
PSO Year 2006 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
416.85 401.5 430
416.12
Dividend Cash Stock 401.5 430 373
401.50 373 342 304
339.67
342 304 309
318.33 309 364.65 328
333.88
18 364.65 328 312.05
334.90 312.05 300 300
304.02
300 300 300
300.00
6
PSO Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
294 339.9 355.3
329.73
339.9 355.3 355.05
350.08 355.05 360.5 370
361.85
4 360.5 370 391.45
373.98 391.45 375.5 329
365.32
11 375.5 329 360.55
355.02 360.55 407.2 429.75
399.17
5 407.2 429.75 406.6
414.52
PSO Year 2008 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
406.6 439.95 496
447.52
439.95 496 533.45
489.80 533.45 503 440
492.15
6 503 440 417.24
453.41 417.24 373.35 279.99
356.86
373.35 279.99 279.99
311.11 279.99
279.99
Dividend Cash Stock
#DIV/0!
Return
-2.17%
-0.42%
-7.01%
-4.18%
Return
18.51%
-3.81%
11.85%
2.49%
Return
-1.43%
4.08%
6.28%
1.25%
Return
-0.36%
-3.47%
-0.84%
4.70%
Return
11.02%
-1.07%
-0.09%
2.63%
Return
-3.51%
-0.98%
0.30%
0.65%
Return
7.38%
6.39%
-1.45%
3.85%
Return
10.79%
-7.87%
-12.82%
#DIV/0!
PSO Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period
Opening 143.53 139.45 127.97 105.33 129.07
2001 Closing Dividends Cash Stock 140.42 0.00 0.00 138.87 0.00 0.00 119.00 0.00 0.00 100.93 0.00 0.00 124.80 0.00 0.00
Opening
Closing
116.63 150.05 161.15 189.72 154.39
138.22 144.33 180.25 194.45 164.31
Opening 199.79 207.33 266.48 267.42 235.26
Opening 289.77 275.82 256.53 258.72 270.21
R.R
Act. Risk
-2.17% -0.42% -7.01% -4.18% -3.44%
0.98 1.00 0.93 0.96 0.97
2.83%
R.R
Act. Risk
1.19 0.96 1.12 1.02 1.07
9.88%
R.R
Act. Risk
0.99 1.04 1.06 1.01 1.03
3.36%
R.R
Act. Risk
1.00 0.97 0.99 1.05 1.00
3.41%
R.R
Act. Risk
1.11 0.99 1.00 1.03 1.03
5.49%
R.R
Act. Risk
2002 Dividends Return Cash Stock 0.00 0.00 18.51% 0.00 0.00 -3.81% 0.00 0.00 11.85% 0.00 0.00 2.49% 0.00 0.00 7.26%
2003 Closing Dividends Return Cash Stock 196.93 0.00 0.00 -1.43% 215.80 0.00 0.00 4.08% 283.22 0.00 0.00 6.28% 270.77 0.00 0.00 1.25% 241.68 0.00 0.00 2.55% 2004 Closing Dividends Return Cash Stock 288.73 0.00 0.00 -0.36% 266.25 0.00 0.00 -3.47% 254.38 0.00 0.00 -0.84% 270.87 0.00 0.00 4.70% 270.06 0.00 0.00 0.01%
Opening
Closing
336.60 375.00 383.22 403.83 374.66
373.68 371.00 382.88 414.45 385.50
Opening
Return
2005 Dividends Return Cash Stock 0.00 0.00 11.02% 0.00 0.00 -1.07% 0.00 0.00 -0.09% 0.00 0.00 2.63% 0.00 0.00 3.12%
2006 Closing Dividends
Return
First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Average
416.12 339.67 333.88 304.02 348.42
Opening 329.73 361.85 365.32 399.17 364.02
401.50 318.33 334.90 300.00 338.68
Cash 0.00 18.00 0.00 6.00 6.00
Stock 0.00 -3.51% 0.00 -0.98% 0.00 0.30% 0.00 0.65% 0.00 -0.88%
2007 Closing Dividends Return Cash Stock 350.08 4.00 0.00 7.38% 373.98 11.00 0.00 6.39% 355.02 5.00 0.00 -1.45% 414.52 0.00 0.00 3.85% 373.40 5.00 0.00 4.04%
Opening
Closing
447.52 492.15 356.86 432.18
489.80 453.41 311.11 418.11
2008 Dividends Return Cash Stock 6.00 0.00 10.79% 0.00 -7.87% 0.00 -12.82% 6.00 0.00 -0.03
0.96 0.99 1.00 1.01 0.99
1.89%
R.R
Act. Risk
1.07 1.06 0.99 1.04 1.04
3.95%
R.R
Act. Risk
1.11 0.92 0.87 0.97
12.45%
NESTLE Year 2001 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 150 138 141
143.00
Dividend Cash Stock 138 141 140
139.67 140 130 127
132.33
130 127 137
131.33 137 141 150
142.67
141 150 155
148.67 155 160 162
159.00
160 162 154
158.67
NESTLE Year 2002 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 154 170 178
167.33
170 178 176
174.67 176 185 188
183.00
185 188 190
187.67 190 192 187.5
189.83
192 187.5 192
190.50 192 198 207
199.00
Dividend Cash Stock
198 207 218.5
207.83
NESTLE
Year 2003 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
218.5 209 189.1
205.53
Dividend Cash Stock
209 189.1 203
200.37 203 220 225
216.00
220 225 250
231.67 250 269.8 279
266.27
269.8 279 278
275.60 278 275 270.1
274.37
275 270.1 376
307.03
4
NESTLE Year 2004 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
376 460 473.95
436.65
460 473.95 480
471.32 480 489 480
483.00
489 480 479
482.67 479 450 456
461.67
450 456 460
455.33
460 465 470.05
465.02
Dividend Cash Stock
465 470.05 519.95
485.00
NESTLE Year 2005
5
Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing
519.95 510 500
509.98
Dividend Cash Stock 510 500 525
511.67
525 551.25 535
537.08
551.25 535 534
540.08
534 538.65 554
542.22
538.65 554 557
549.88 557 560 570
562.33
560 570 602
577.33
15
NESTLE Year 2006 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening
Closing 602 689 800
697.00
Dividend Cash Stock 689 800 825
771.33 825 950 1197
990.67
950 1197 1102.56
1083.19
1102.56 1068 919.65
1030.07
1068 919.65 940
975.88
940 950 900.05
930.02
950 900.05 1044.95
965.00
5
NESTLE Year 2007 Month
Opening
Closing
Dividend Cash Stock
January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
1044.95 1323 1460
1275.98
1323 1460 1680
1487.67
1680 1580 1499
1586.33
1580 1499 1545
1541.33
1545 1505 1490
1513.33
1505 1490 1500
1498.33
1500 1530 1835
1621.67
1530 1835 1800
1721.67
10
NESTLE Year 2008 Month January February March First Quarter (Avg) April May June Second Quarter (Avg) July August September Third Quarter (Avg) October November December Fourth Quarter (Avg)
Opening 1800 1690.9 1600
1696.97 1512 1423 1282.51
1405.84
Closing 1690.9 1600 1512
1600.97 1423 1282.51 1640
1448.50
1640
1640.00
#DIV/0!
#DIV/0!
#DIV/0!
Dividend Cash Stock
Return
-2.33%
-0.76%
4.21%
-0.21%
Return
4.38%
2.55%
0.35%
4.44%
Return
-2.51%
7.25%
3.51%
13.36%
Return
7.94%
-0.07%
-1.37%
5.37%
Return
0.33%
0.56%
1.41%
5.33%
Return
10.66%
9.34%
-5.26%
4.30%
Return
16.59%
-2.84%
-0.99%
6.78%
Return
-5.66%
3.03%
#DIV/0!
#DIV/0!
PSO Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period
Opening 143.00 132.33 142.67 159.00 144.25
2001 Closing Dividends Return Cash Stock 139.67 0.00 0.00 -2.33% 131.33 0.00 0.00 -0.76% 148.67 0.00 0.00 4.21% 158.67 0.00 0.00 -0.21% 144.58 0.00 0.00 0.23%
Opening
Closing
167.33 183.00 189.83 199.00 184.79
174.67 187.67 190.50 207.83 190.17
Opening 205.53 216.00 266.27 274.37 240.54
Opening 436.65 483.00 461.67 465.02 461.58
Act. Risk
0.98 0.99 1.04 1.00 1.00
2.80%
Return
R.R
Act. Risk
4.38% 2.55% 0.35% 4.44% 2.93%
1.04 1.03 1.00 1.04 1.03
1.93%
R.R
Act. Risk
0.97 1.07 1.04 1.13 1.05
6.66%
R.R
Act. Risk
1.08 1.00 0.99 1.05 1.03
4.42%
Return
R.R
Act. Risk
0.33% 0.56% 1.41% 5.33% 1.91%
1.00 1.01 1.01 1.05 1.02
2.33%
Return
R.R
Act. Risk
2003 Closing Dividends Return Cash Stock 200.37 0.00 0.00 -2.51% 231.67 0.00 0.00 7.25% 275.60 0.00 0.00 3.51% 307.03 4.00 0.00 13.36% 253.67 1.00 0.00 5.40% 2004 Closing Dividends Return Cash Stock 471.32 0.00 0.00 7.94% 482.67 0.00 0.00 -0.07% 455.33 0.00 0.00 -1.37% 485.00 5.00 0.00 5.37% 473.58 1.25 0.00 2.97%
Opening
Closing
509.98 537.08 542.22 562.33 537.90
511.67 540.08 549.88 577.33 544.74
Opening
2002 Dividends Cash Stock 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
R.R
2005 Dividends Cash Stock 0.00 0.00 0.00 0.00 0.00 0.00 15.00 0.00 3.75 0.00
2006 Closing Dividends
First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Fourth Quarter (Avg) Average
Period First Quarter (Avg) Second Quarter (Avg) Third Quarter (Avg) Average
Cash Stock 697.00 771.33 0.00 0.00 10.66% 990.67 1083.19 0.00 0.00 9.34% 1030.07 975.88 0.00 0.00 -5.26% 930.02 965.00 5.00 0.00 4.30% 911.94 948.85 1.25 0.00 4.76%
Opening 1275.98 1586.33 1513.33 1621.67 1499.33
Opening 1696.97 1405.84 1640.00 1580.93
2007 Closing Dividends Return Cash Stock 1487.67 0.00 0.00 16.59% 1541.33 0.00 0.00 -2.84% 1498.33 0.00 0.00 -0.99% 1721.67 10.00 0.00 6.78% 1562.25 2.50 0.00 4.89% 2008 Closing Dividends Return Cash Stock 1600.97 0.00 -5.66% 1448.50 0.00 3.03% 7.00 0.00 0.00% 1524.74 7.00 0.00 -0.01
1.11 1.09 0.95 1.04 1.05
7.22%
R.R
Act. Risk
1.17 0.97 0.99 1.07 1.05
8.85%
R.R
Act. Risk
0.94 1.03 1.00 0.99
4.41%
Returns Sheet Engro Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -5.42% -0.31% -6.94% 18.04% 1.34%
2002 11.46% -6.75% 1.75% 25.05% 7.88%
2003 -3.40% 1.54% -2.13% 14.49% 2.62%
Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -9.09% 13.76% -12.18% 12.11% 1.15%
2002 10.73% 1.45% 5.86% 4.91% 5.74%
2003 -3.03% 29.58% 4.21% 6.44% 9.30%
Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -9.71% 1.24% -4.76% -2.33% -3.89%
2002 9.91% 3.98% -2.55% 6.73% 4.52%
2003 4.35% 4.19% 8.14% 7.23% 5.98%
Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -2.17% -0.42% -7.01% -4.18% -3.44%
2002 18.51% -3.81% 11.85% 2.49% 7.26%
2003 -1.43% 4.08% 6.28% 1.25% 2.55%
Period First Quarter Second Quarter Third Quarter Fourth Quarter Average
2001 -2.33% -0.76% 4.21% -0.21% 0.23%
2002 4.38% 2.55% 0.35% 4.44% 2.93%
2003 -2.51% 7.25% 3.51% 13.36% 5.40%
2004 1.92% -0.27% -2.28% 21.25% 5.16%
2005 -0.12% -3.76% 6.57% 12.69% 3.84%
Lucky Cements 2004 11.10% 6.89% -1.24% 2.72% 4.87%
2005 6.01% -2.31% 5.07% 16.22% 6.25%
MCB 2004 0.19% 1.18% 2.46% 7.87% 2.93%
2005 5.21% 7.38% 19.05% 11.76% 10.85%
2004 -0.36% -3.47% -0.84% 4.70% 0.01%
2005 11.02% -1.07% -0.09% 2.63% 3.12%
PSO
NESTLE 2004 7.94% -0.07% -1.37% 5.37% 2.97%
2005 0.33% 0.56% 1.41% 5.33% 1.91%
2006 7.38% -5.11% 3.55% -0.21% 1.40%
2007 3.14% 12.19% 1.76% 1.82% 4.73%
2008 6.65% -3.98% -14.05%
2006 13.03% -4.78% -0.89% -15.38% -2.00%
2007 10.11% 21.17% -2.51% -3.10% 6.42%
2008 6.42% -9.73% -12.88%
2006 9.79% -1.32% 7.83% 0.01% 4.08%
2007 3.83% 11.20% -2.45% 7.55% 5.03%
2008 1.63% -7.25% -9.94%
2006 -3.51% -0.98% 0.30% 0.65% -0.88%
2007 7.38% 6.39% -1.45% 3.85% 4.04%
2008 10.79% -7.87% -12.82%
2006 10.66% 9.34% -5.26% 4.30% 4.76%
2007 16.59% -2.84% -0.99% 6.78% 4.89%
2008 -5.66% 3.03% #DIV/0!
-3.79%
-5.40%
-5.19%
-3.30%
#DIV/0!
Year
Opening prices 2001 2002 2003 2004 2005 2006 2007 2008
58.75 64.49 85.70 97.43 129.90 185.68 223.75 251.62
Lucky Cements Year Returns 2001 1.15% 2002 5.74% 2003 9.30% 2004 4.87% 2005 6.25% 2006 -2.00% 2007 6.42% 2008 -5.40%
Engro Closing prices 57.32 67.85 85.76 100.47 132.83 186.06 231.82 244.51
Returns 1.34% 7.88% 2.62% 5.16% 3.84% 1.40% 4.73% -3.79%
Year
Lucky Cements Opening prices Closing prices Returns 2001 6.80 6.68 2002 9.40 9.76 2003 15.76 16.88 2004 35.10 36.44 2005 49.22 52.83 2006 100.03 98.03 2007 103.53 108.25 2008 109.68 104.27
Year
Opening prices
1.15% 5.74% 9.30% 4.87% 6.25% -2.00% 6.42% -5.40%
MCB Closing prices
Returns
2001 2002 2003 2004 2005 2006 2007 2008
Year
25.48 26.69 39.29 51.68 92.46 228.26 319.43 352.57
24.40 27.88 40.80 52.29 101.55 234.79 332.25 335.10
PSO Opening prices Closing prices Returns 2001 129.07 124.80 2002 154.39 164.31 2003 235.26 241.68 2004 270.21 270.06 2005 374.66 385.50 2006 348.42 338.68 2007 364.02 373.40
-3.89% 4.52% 5.98% 2.93% 10.85% 4.08% 5.03% -5.19%
-3.44% 7.26% 2.55% 0.01% 3.12% -0.88% 4.04%
2008
Year
432.18
418.11
Nestle Opening prices Closing prices Returns 2001 144.25 144.58 2002 184.79 190.17 2003 240.54 253.67 2004 461.58 473.58 2005 537.90 544.74 2006 911.94 948.85 2007 1499.33 1562.25 2008 1580.93 1524.74
-3.30%
0.23% 2.93% 5.40% 2.97% 1.91% 4.76% 4.89% -0.87%
Market returns 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
Engro Price trend 275 250 225 200 175 150 125 100 75 50 25 0 Row 3
2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
Engro Returns 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% -1.00% -2.00% -3.00% -4.00% Row 3
2001
2002
2003
2004
2005
2006
2007
Lucky Cements price Trend 110.00 100.00 90.00
Lucky Cements price Trend 110.00 100.00 90.00 80.00 70.00 60.00 50.00 40.00 30.00 20.00 10.00 0.00 2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
Lucky Cements Returns 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% -2.00% -4.00% -6.00% 2000
2002
2004
2006
MCB price trend 375.00 350.00 325.00 300.00 275.00 250.00
2008
MCB price trend 375.00 350.00 325.00 300.00 275.00 250.00 225.00 200.00 175.00 150.00 125.00 100.00 75.00 50.00 25.00 0.00 2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
MCB Returns 12.00% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% -2.00% -4.00% -6.00% Row 101
Row 102
Row 103
Row 104
Row 105
Row 106
PSO Price Trend 450.00 400.00 350.00 300.00 250.00 200.00
Row 107
400.00 350.00 300.00 250.00 200.00 150.00 100.00 50.00 0.00 2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
PSO Returns 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% -1.00% -2.00% -3.00% -4.00% 2000
2002
2004
2006
Nestle Price Trend 1600.00 1400.00 1200.00 1000.00 800.00 600.00 400.00
2008
1200.00 1000.00 800.00 600.00 400.00 200.00 0.00 2001
2002
2003
2004
Opening prices
2005
2006
Closing prices
Nestle Returns 5.50% 5.00% 4.50% 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% -0.50% -1.00% 2000
2002
2004
2006
2008
rice trend
2004
es
2005
2006
2007
2008
Closing prices
o Returns
004
Returns
2005
2006
2007
ents price Trend
2008
ents price Trend
2004
prices
2005
2006
2007
2008
Closing prices
ments Returns
4
Returns Linear regression, Returns
2006
price trend
2008
price trend
2004
prices
2005
2006
2007
2008
Closing prices
B Returns
w
Returns
Row 105
Row 106
Price Trend
Row 107
Row 108
2004
prices
2005
2006
2007
2008
Closing prices
O Returns
Returns Linear regression, Returns
2006
Price Trend
2008
2004
prices
2005
2006
2007
2008
Closing prices
le Returns
Returns Linear regression, Returns
2006
2008
Expected Risk & Return Engro
S.No 1 2 3 4 5 Total
Return (R) 10.00% 5.00% 3.00% -5.00% -10.00%
Probability (P) 0.08 0.12 0.35 0.2 0.25 1
Expected Return ̅ṜA=∑RP 0.01 0.01 0.01 -0.01 -0.03 -1.05%
R-ṜA 0.09 0.04 0.02 -0.04 -0.08
δA = √∑(R-Ṝ
Muslim Commercial Bank
S.No 1 2 3 4 5 Total
Return (R) 10.00% 8.00% 5.00% 2.00% -5.00%
Probability (P) 0.1 0.12 0.2 0.4 0.18 1
Expected Return ̅ṜB=∑RP 0.01 0.01 0.01 0.01 -0.01 2.86%
R-ṜB 0.09 0.07 0.04 0.01 -0.04
δB = √∑(R-Ṝ
Lucky Cements
S.No 1 2 3 4 5 Total
Return (R) 5.00% 3.00% 1.00% -2.00% -5.00%
Probability (P) 0.1 0.2 0.4 0.25 0.05 1
Expected Return ̅ṜC=∑RP 0.01 0.01 0 -0.01 0 0.75%
R-ṜC 0.05 0.02 0.01 -0.02 -0.05
δC = √∑(R-Ṝ
Pakistan State Oil
S.No 1 2 3 4 5 Total
Return (R) 10.00% 7.00% 3.00% -5.00% -15.00%
Probability (P) 0.1 0.15 0.4 0.25 0.1 1
Expected Return ̅ṜD=∑RP 0.01 0.01 0.01 -0.01 -0.02 0.50%
R-ṜD 0.09 0.06 0.02 -0.04 -0.14
δD = √∑(R-Ṝ
Nestle Pakistan
S.No 1 2 3 4 5 Total
Return (R) 15.00% 10.00% 5.00% 2.00% -2.00%
Probability (P) 0.1 0.15 0.3 0.4 0.05 1
Expected Return ̅ṜE=∑RP 0.02 0.02 0.02 0.01 0 5.20%
R-ṜE 0.14 0.09 0.04 0.01 -0.02
δE = √∑(R-Ṝ
Return Expected Risk (δA)
(R-ṜA)2
(R-ṜA)2P
0.008464 0.001936 0.000380 0.001600 0.005625
δA = √∑(R-ṜA)2P
0 0 0 0 0 0 5.26%
Expected Risk (δB)
(R-ṜB)2
(R-ṜB)2P
0.008100 0.004956 0.001600 0.000144 0.001681
δB = √∑(R-ṜB)2P
0 0 0 0 0 0 4.57%
Expected Risk (δC)
(R-ṜC)2 0.002025 0.000576 0.000036 0.000225 0.002256
δC = √∑(R-ṜC)2P
(R-ṜC)2P 0 0 0 0 0 0 2.24%
Expected Risk (δD)
(R-ṜD)2
(R-ṜD)2P
0.008100 0.003540 0.000324 0.001406 0.018225
δD = √∑(R-ṜD)2P
0 0 0 0 0 0 6.04%
Expected Risk (δE)
(R-ṜE)2 0.018225 0.007225 0.001225 0.000144 0.000361
δE = √∑(R-ṜE)2P
(R-ṜE)2P 0 0 0 0 0 0 5.79%
Portfolio Risk & Return Let Returns of; Engro = A MCB = B L.C. = C PSO = D Nestle = E
Expected risk are: 5.26% 4.57% 2.24% 6.04% 5.79%
-1.05% 2.86% 0.75% 0.50% 5.20%
Expected Return of the portfolio =
1.65%
So, if I want to make a portfolio of 2 securities each, the number of portfolios I will have are: Portfolios = {AB,AC,AD,AE,BC,BD,BE,CD,CE, DE} So examining all of the above stated portfolios one by one:
1. Engro with MCB S. no 1 2 3 4 5 Total
A 0.1000 0.0500 0.0300 -0.0500 -0.1000 0.0300
B 0.1000 0.0800 0.0500 0.0200 -0.0500 0.2000
A.B 0.0100 0.0040 0.0015 -0.0010 0.0050 0.0195
A2 0.0100 0.0025 0.0009 0.0025 0.0100 0.0259
B2 0.0100 0.0064 0.0025 0.0004 0.0025 0.0218
A.C 0.0050 0.0015 0.0003 0.0010 0.0050 0.0128
A2 0.0100 0.0025 0.0009 0.0025 0.0100 0.0259
C2 0.0025 0.0009 0.0001 0.0004 0.0025 0.0064
A.D
A2
D2
Expected Portfolio Risk (δP1) r1 =
0.97
δA = δB = δP1 =
5.26% 4.57% 0.038%
2. Engro with MCB S. no 1 2 3 4 5 Total
A 0.1000 0.0500 0.0300 -0.0500 -0.1000
C 0.0500 0.0300 0.0100 -0.0200 -0.0500
Expected Portfolio Risk (δP2) r2 =
0.99
δA =
5.26%
δC =
2.24%
δP2 =
0.022%
3. Engro with PSO S. no
A
D
1 2 3 4 5 Total
10.00% 5.00% 3.00% -5.00% -10.00% 3.00%
10.00% 7.00% 3.00% -5.00% -15.00% 0.00%
0.0100 0.0035 0.0009 0.0025 0.0150 0.0319
0.0100 0.0025 0.0009 0.0025 0.0100 0.0259
0.0100 0.0049 0.0009 0.0025 0.0225 0.0408
A.E 0.0150 0.0050 0.0015 -0.0010 0.0020 0.0225
A2 0.0100 0.0025 0.0009 0.0025 0.0100 0.0259
E2 0.0225 0.0100 0.0025 0.0004 0.0004 0.0358
B.C 0.0050 0.0024 0.0005 -0.0004 0.0025 0.0100
B2 0.0100 0.0064 0.0025 0.0004 0.0025 0.0218
C2 0.0025 0.0009 0.0001 0.0004 0.0025 0.0064
B.D 0.0100 0.0056 0.0015
B2 0.0100 0.0064 0.0025
D2 0.0100 0.0049 0.0009
Expected Portfolio Risk (δP3) r3 = δA = δD = δP3 =
0.98 5.26% 6.04% 0.051%
4. Engro with Nestle S. no 1 2 3 4 5 Total
A 10.00% 5.00% 3.00% -5.00% -10.00% 3.00%
E 15.00% 10.00% 5.00% 2.00% -2.00% 30.00%
Expected Portfolio Risk (δP4) r4 = 0.97 δA =
5.26%
δE =
5.79%
δP3 =
0.048%
5. MCB with Lucky Cements S. no 1 2 3 4 5 Total Expected Portfolio Risk (δP5) r5 = 0.99 δB =
4.57%
δC = δP5 =
2.24%
B 10.00% 8.00% 5.00% 2.00% -5.00% 20.00%
C 5.00% 3.00% 1.00% -2.00% -5.00% 2.00%
0.018%
6. MCB with PSO S. no 1 2 3
B 10.00% 8.00% 5.00%
D 10.00% 7.00% 3.00%
4 5 Total
2.00% -5.00% 20.00%
-5.00% -15.00% 0.00%
-0.0010 0.0075 0.0236
0.0004 0.0025 0.0218
0.0025 0.0225 0.0408
B.E 0.0150 0.0080 0.0025 0.0004 0.0010 0.0269
B2 0.0100 0.0064 0.0025 0.0004 0.0025 0.0218
E2 0.0225 0.0100 0.0025 0.0004 0.0004 0.0358
C2 0.0025 0.0009 0.0001 0.0004 0.0025 0.0064
D2 0.0100 0.0049 0.0009 0.0025 0.0225 0.0408
C2 0.0025 0.0009 0.0001 0.0004 0.0025
E2 0.0100 0.0049 0.0009 0.0025 0.0225
Expected Portfolio Risk (δP6) r6 =
0.99
δB =
4.57%
δD =
6.04%
δP6 =
0.045%
7. MCB with Nestle S. no 1 2 3 4 5 Total
B 10.00% 8.00% 5.00% 2.00% -5.00% 20.00%
E 15.00% 10.00% 5.00% 2.00% -2.00% 30.00%
Expected Portfolio Risk (δP7) r7 = 0.95 δB =
4.57%
δE = δP7 =
5.79% 0.042%
8. Lucky Cements with PSO S. no 1 2 3 4 5 Total Expected Portfolio Risk (δP8) r8 = 0.99 δC =
2.24%
δD =
6.04%
δP8 =
0.027%
C 5.00% 3.00% 1.00% -2.00% -5.00% 2.00%
D 10.00% 7.00% 3.00% -5.00% -15.00% 0.00%
C.D. 0.0050 0.0021 0.0003 0.0010 0.0075 0.0159
9. Lucky Cements with Nestle S. no 1 2 3 4 5
C 5.00% 3.00% 1.00% -2.00% -5.00%
E 10.00% 7.00% 3.00% -5.00% -15.00%
C.E. 0.0050 0.0021 0.0003 0.0010 0.0075
Total
2.00%
0.00%
0.0159
0.0064
0.0408
D.E. 0.0050 0.0021 0.0003 0.0010 0.0075 0.0159
D2 0.0025 0.0009 0.0001 0.0004 0.0025 0.0064
E2 0.0100 0.0049 0.0009 0.0025 0.0225 0.0408
Expected Portfolio Risk (δP9) r9 =
0.99
δC =
2.24%
δE = δP9 =
5.79% 0.026%
10. PSO with Nestle S. no 1 2 3 4 5 Total
D 5.00% 3.00% 1.00% -2.00% -5.00% 2.00%
E 10.00% 7.00% 3.00% -5.00% -15.00% 0.00%
Expected Portfolio Risk (δP10) r10 = δC = δE =
6.04%
δP10 =
0.056%
0.99 5.79%
Risk on A,A B,B C,C D,D E,E
Return: 1 1 1 1 1
0 0.01 0 0 0.02
Total Portfolio Risk & Return w1w1r1.1s1*s1* w2w1r2.1s2*s1* w3w1r3.1.s3*.s1* w4w1.r4.1s4*.s1* w5w1.r5.1.s5*.s1* w1= w2= w3= w4=
w1w2.r1.2s1*.s2* w2.w2.r2.2.s2*.s2* w3.w2.r3.2.s3*s2* w4w2r4.2.s4*s2* w5.w2.r55.2.s5*.s2* 0.2 0.2 0.2 0.2
s1*= s2*= s3*= s4*=
w1w3.r1.3s1*.s3* w2.w3.r2.3.s2*.s3* w3w3.r3.33s3*.s3* w4.w3.r4.3.s4*.s3* w5.w3.r5.3s5*.s3*
4.57% A,A 4.57% A,B 2.24% A,C 6.04% A,D
w1.w4.r1.4.s1*.s4* w2.w4.r2.4.s2*s4* w3.w4.r3.4s3*.s4* w4w4.r4.4.s4.*s4* w5.w4.r5.4.s5*.s4*
0.038% B,B 0.022% B,C 0.051% B,D 0.048% B,E
w5=
0.2
s5*=
5.79% A,E Portfolio Risk =
0.018% C,C 1.13%
w4.r1.4.s1*.s4* w4.r2.4.s2*s4* w4.r3.4s3*.s4* w4.r4.4.s4.*s4* w4.r5.4.s5*.s4*
w1.5.r1.5.s1*s5* w2.w5r2.5.s2*.s5* w3.w5.r3.5.s3*.s5* w4.w5.r4.5.s4*.s5* w5.w5.r5.5.s5*.s5*
0.045% C,D 0.042% C,E 0.027% D,D 0.026% D,E
1.00 1.00 1.00 1.00
0.056% E,E
1.00
Forecasted Income Statement Engro Chemicals
Income Statement Particulars Net sales Less: Cost of Sales Gross Profit Less: Selling & Distribution Expenses Other Income EBIT Financial Charges EBT Taxation EAT Dividend @ rs 7 per share Retained Earnings Earning Per Share: EBIT/No. of Shares O-S Return on Equity: 15,481,917 EAT/No. of shares O-S
(Rs in ,000) Current Year Amount Percent 23,183,222.00 100.00% -18,262,793.00 78.78% 4,920,429.00 21.22% -1,641,724.00 7.08% 1,831,260.00 7.90% 5,109,965.00 22.04% -535,023.00 2.31% 4,574,942.00 19.73% -1,080,929.00 4.66% 3,494,013.00 15.07% 2,100,000.00 1,394,013.00
28% Rise
7 P/S
17.00 22.57%
Nestle Pakistan Income Statement Particulars Net sales Less: Cost of Sales Gross Profit Less: Operating Expenses Other Income EBIT Financial Charges EBT Taxation EAT Dividend @ rs 10 per share Retained Earnings Earning Per Share: EBIT/No. of Shares O-S Return on Equity: EAT/No. of shares O-S
(Rs in ,000) Current Year Amount Percent 28,235,393 100.00% -20,291,270 71.86% 7,944,123 28.14% 4,809,933 -17.04% 0 0.00% 3,134,190 11.10% -584,434 2.07% 2,549,756 9.03% -744,544 2.64% 1,805,212 6.39% 300,000 1,505,212
30% Rise
10 P/S
10.45 43.90%
Muslim Commercial Bank Forecasted
Current
Chg (Rs)
Interest earned Interest expensed Net interest income Provision against NPLs Total Provisions
28,078,064 7,757,920 20,320,144 1,996,410 2,206,841
23,689,445 5,750,881 17,938,564 1,441,713 1,572,825
4,388,619 2,007,039 2,381,580 554,697 634,016
Net interest income after provision Total non-interest income Total non-interest expenses PBT Taxation PAT Basic/Diluted EPS
18,113,303 4,501,380 6,318,661 16,296,022 4,672,663 11,623,359 18.5
16,365,739 5,075,107 5,059,882 16,380,964 5,133,584 11,247,380 17.5
1,747,564 -573,727 1,258,779 -84,942 -460,921 375,979 1
Forecasted Amount Percent 29,674,524.16 100 23,376,375.04 -78.78% 6,298,149.12 21.22% 2,101,406.72 -7.08% 2,344,012.80 7.90% 6,540,755.20 22.04% 684,829.44 -2.31% 5,855,925.76 19.73% 1,383,589.12 -4.66% 4,472,336.64 15.07% 2,100,000.00 2,372,336.64 21.80 28.89%
Forecasted Amount Percent 36,706,010.90 100 26,378,651.00 -71.86% 10,327,359.90 28.14% -6,252,912.90 17.04% 0.00 0.00% 4,074,447.00 11.10% 759,764.20 -2.07% 3,314,682.80 9.03% 967,907.20 -2.64% 2,346,775.60 6.39% 300,000 2,046,775.60 13.58 78.23%
Chg (%)
19% 35% 13% 38% 40%
11% -11% 25% -1% -9% 3% 6%
Dividends of year 2008
Do Engro MCB Lukcy Cements PSO Nestle
5 4.5 1.25 6 7
R.O.E 22.57% 23.00% 15.00% 31.00% 48.20%
Calculated g's Name of the Company
Calculated g 11.29% 12.65% 13.13% 12.40% 14.46%
Engro MCB Lukcy Cements PSO Nestle
Calculated Dn According to formula Calculated D1
Name of the Company
Engro MCB Lukcy Cements PSO Nestle
5.56 5.07 1.41 6.74 8.01
MARKET RATE(Ke)
15.00%
FORECASTED PRICES OF SECURITIES FOR 2009 Name of the Company
Engro MCB Lukcy Cements PSO Nestle
Forecasted Prices Rs149.78 Rs215.71 Rs75.42 Rs259.38 Rs1,483.74
Market price 170 230 80 280 1600
ula
TIES FOR 2009 Deviation Rs20.22 Rs14.29 Rs4.58 Rs20.62 Rs116.26
%age 13.50% 6.62% 6.08% 7.95% 7.84%
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