Business Leveraging based on Historical and Projected Data

As on June 17, 2022

Audited Projections Shared with FI

2019-20 2020-21 2021-22 2022-23
PKR PKR PKR PKR
Funds Break up
EBITDA ( Equity) 781,425,198 872,520,571 1,220,633,545 1,426,072,820
Debt Servicing + Principal Repayment 187,422,534 347,371,909 526,368,097 588,921,683
DSCR 4.17 2.51 2.32 2.42

Debt Outstanding 541,454,497 635,571,886 1,153,659,493 723,408,659

Accumulated Funds 1,505,255,738 2,147,673,055 3,063,631,791 4,067,351,012
Total Debt+ Accumulated Funds 2,046,710,235 2,783,244,941 4,217,291,284 4,790,759,672

Leverage Ratio 26.45% 22.84% 27.36% 15.10%

Key Points:
Above calculations are based on documents submitted to the Financial Institutions.
Debt repayments only reflect payments made only to Financial Institutions (excluding BOP outstanding balance that was retired).
Debt reflects only current financing availed to date. Does not include any further financing under negotiation e.g. NBP & BOP

1
 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27
Total
Principal Markup Total Repayment Principal Markup Principal Markup Total Repayment Principal Markup Total Repayment Principal Markup Total Repayment Principal Markup Total Repayment Principal Markup Total Repayment Principal Markup Total Repayment Principal Markup Total Repayment
Repayment

EBITDA 608,722,497 781,425,198 872,520,571 1,220,633,545 1,426,072,820 1,662,566,645 1,818,272,515 1,984,967,077 2,177,402,860

Long Term Loan

HBL Demand Finance 21,195,447 8,188,998 29,384,445 18,960,596 8,023,918 26,984,514 26,217,871 4,894,197 31,112,068 - - - - - -
HBL Demand Finance 26,013,304 12,006,291 38,019,595 27,578,156 13,766,901 41,345,057 31,361,687 10,327,093 41,688,780 35,269,886 3,674,312 38,944,198 9,799,829 420,903 10,220,732 - - - -
HBL Salaries and Wages Refinance - - - - 82,000,000 7,120,816 89,120,816 164,000,000 5,540,055 169,540,055 82,000,000 923,342 82,923,342 - - - -
BOP Salaries and Wages Refinance - 93,750,000 5,255,179 99,005,179 187,500,000 6,333,904 193,833,904 93,750,000 1,055,651 94,805,651 - - - -
BOP Diminishing Musharkah - - 39,358,356 39,358,356 93,750,000 84,995,317 178,745,317 125,000,000 64,271,010 189,271,010 125,000,000 41,841,062 166,841,062 125,000,000 19,562,055 144,562,055 31,250,000 1,403,759 32,653,759
47,208,751 20,195,289 67,404,040 46,538,752 21,790,819 68,329,571 233,329,558 27,597,285 260,926,843 386,769,886 54,906,627 441,676,513 279,299,829 87,395,213 366,695,042 125,000,000 64,271,010 189,271,010 125,000,000 41,841,062 166,841,062 125,000,000 19,562,055 144,562,055 31,250,000 1,403,759 32,653,759
Asset Lease / Sale and Lease Back
HBL Auto HBL Auto Lease 24,677,532 2,239,131 26,916,663 6,460,701 316,639 6,777,340 2,576,560 172,601 2,749,161 - - - - - -
NBP Auto Auto Ijarah 5,255,492 2,082,518 7,338,010 5,433,579 2,352,498 7,786,077 6,310,811 1,288,887 7,599,697 6,503,644 940,328 7,443,971 26,527,518 19,464,880 45,992,398 25,222,100 15,106,481 40,328,581 25,222,100 10,831,212 36,053,312 25,222,100 6,593,162 31,815,262 23,590,814 2,355,112 25,945,927
PAIR Investment Company Limited Auto Lease 9,714,175 5,122,071 14,836,246 16,234,997 8,866,603 25,101,600 18,417,530 6,683,890 25,101,420 38,548,605 16,749,311 55,297,916 91,387,637 37,588,497 128,976,134 96,999,931 20,793,395 117,793,326 38,808,494 8,746,499 47,554,992 24,996,449 2,770,163 27,766,612 3,884,538 83,618 3,968,156
PGL Asset Lease / Sale & Lease Back 44,563,566 4,928,249 49,491,815 13,396,002 1,777,256 15,173,259 4,291,151 209,082 4,500,233 15,596,005 6,353,692 21,949,697 33,162,590 14,095,519 47,258,109 33,992,842 7,240,648 41,233,490 19,219,290 1,273,427 20,492,718 - -
ORIX Leasing Pakistan Ltd Asset Lease / Sale & Lease Back 12,293,328 4,530,637 16,823,965 15,687,148 5,278,742 20,965,890 16,930,686 1,663,869 18,594,555 - - - - - -
96,504,092 18,902,606 115,406,699 57,212,428 18,591,738 75,804,166 48,526,738 10,018,329 58,545,066 60,648,254 24,043,330 84,691,584 151,077,745 71,148,896 222,226,641 156,214,873 43,140,524 199,355,397 83,249,884 20,851,138 104,101,022 50,218,549 9,363,325 59,581,874 27,475,352 2,438,730 29,914,083
Short Term Loan
HBL Running Finance 54,798,740 6,204,819 61,003,559 2,569,779 2,569,779
Askari Bank Limited Running Finance 3,897,329 3,897,329 34,900,000 1,499,150 36,399,150
Silk Bank Limited Running Finance 3,331,861 3,331,861 4,319,868 4,319,868 27,900,000 27,900,000
54,798,740 13,434,009 68,232,749 34,900,000 8,388,797 43,288,797 27,900,000 - 27,900,000

Grand Total 198,511,583 52,531,904 251,043,488 138,651,180 48,771,354 187,422,534 309,756,296 37,615,613 347,371,909 447,418,140 78,949,957 526,368,097 430,377,574 158,544,109 588,921,683 281,214,873 107,411,534 388,626,407 208,249,884 62,692,199 270,942,083 175,218,549 28,925,380 204,143,929 58,725,352 3,842,489 62,567,841

DSCR 2.42 4.17 2.51 2.32 2.42 4.28 6.71 9.72 34.80

Accumulated Funds 973,904,543 1,505,255,738 2,147,673,055 3,066,131,791 4,095,334,212 5,350,943,879 6,776,800,909 8,393,290,634 10,200,584,429
Total Debt 319,647,406 541,454,497 635,571,886 1,153,659,493 723,408,659 442,193,788 233,943,906 58,725,359 -
Total Debt + Accumulated Funds 1,293,551,949 2,046,710,235 2,783,244,941 4,219,791,284 4,818,742,871 5,793,137,668 7,010,744,816 8,452,015,993 10,200,584,429
Total Debt Over Equity 32.82% 35.97% 29.59% 37.63% 17.66% 8.26% 3.45% 0.70% 0.00%