In the year 1959, the opening of this refinery was performed by Field Marshal Mohammad Ayub Khan, then, the President of Pakistan. The design capacity of the Refinery was to process one million tonnes of crude oil annually but that very year it was decided to expand the capacity of the Refinery to 2.1 million tonnes per annum.
The refinery is leader in Health Safety and Environment (HSE) Management System being the first in Pakistan to achieve ISO 14001 and OHSAS 18001 Certification in November 2002. Pakistan Refinery Ltd revamped the platformer unit to achieve enhancement (from 340 to 450 metric tonnes per stream day).
PRL has started the production of and supply of unleaded 90 RON Motor Gasoline. It has also completed a major modification to the crude heaters. In consequence there of High Speed Diesel (HSD) yield increased by 2% by weight and improved furnace efficiency by 10%.
The PRL laboratory is 19001 certified since 1999. It has converted the fuel oil country pipeline in HSD service from August 2000 thereby bridging the gap between the Keamari Port and the PARCO pipeline system.
It has inducted the desalting unit to improve fuel oil. It has introduced SAP software for inventory and plant maintenance management system and for the production of company financials.
Its production of LPG increased from 40 to 65 MTSD in August 1996. PRL is a public limited company incorporated in the province of Sindh having its plant and registered office located at Korangi Creek Road Karachi. In the category of shareholding Shell has 30% holding of PRL. PSO owns 18% and Caltex owns 12% of its stock. Insurance and financial institutions own 25% and general public owns 15% of its equity.
During the period under review, PRL generated net sales in the sum of Rs 30,597.81 million (9M 2003-04: Rs 19,993.87 showing impressive growth of 53% over the same period last year (SPLY). Net profit after taxation amounted to Rs 1,380.87 million (9M 2003-04: Rs 646.49 million) showing remarkable increase over SPLY.
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Performance Statistics (Million Rupees)
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Balance sheet -As At-
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March 31 June 30
2005 2004
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Share Capital-Paid-up: 200.00 200.00
Reserves & Profit: 2,690.94 1,410.07
Shareholders Equity: 2,890.94 1,610.07
Current Liabilities: 5,808.18 4,579.01
Fixed Assets: 685.70 652.02
L.T. Investment: 0.87 0.87
L.T. Loans & Advances: 7.26 8.32
L.T. Deposits: 3.07 3.07
Deferred Taxation: 12.09 15.93
Current Assets: 7,990.13 5,508.87
Total Assets: 8,699.12 6,189.08
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Profit & Loss A/c For The Nine Months Ended
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March 31 2005 2004
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Sales-Net: 30,597.81 19,993.87
Gross Profit: 2,283.27 1,130.82
Operating Profit: 2,208.45 1,058.41
Other Income: 53.96 51.87
Financial (Charges): (17.68) (13.87)
Profit Before Taxation: 2,092.89 1,021.78
Profit After Taxation: 1,380.87 646.49
Earnings Per Share (Rs): 69.04 32.32
Share Price (Rs) on 6-6-2005: 202.00 -
Price/Earning Ratio: 2.93 -
Book Value of Share (Rs): 144.55 80.50
Debt/Equity Ratio: 0:100 0:100
Current Ratio: 1.38 1.20
Gross Profit Margin (%): 7.46 5.65
Net Profit Margin (%): 4.51 3.23
R.O.A. (%): 15.87 10.44
R.O.E. (%): 47.76 40.15
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COMPANY INFORMATION: Chairman: Salahuddin Qureshi; Chief Executive: Zafar Haleem; Company Secretary: Saleem Butt; Registered Office: Korangi Creek Road Karachi; Web Address: www.prl.com.pk
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