Berger Paints Pakistan Limited (BERG) quarterly balance sheet

At the end of Q4 FY2026 (Apr – Jun 2026) Berger Paints Pakistan Limited had total assets of Rs 9.4 bn, up 17.7% on Q4 FY2025. Current assets of Rs 6.2 bn covered current liabilities of Rs 4.5 bn 1.38 times. Total debt was Rs 2.1 bn, net debt Rs 1.6 bn. Shareholders' equity was Rs 4.4 bn (Rs 178.51 per share), 46.8% of total assets.

BERG balance sheet (quarterly) (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 Apr – Jun 2025	Q3 FY2025 Jan – Mar 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024	Q4 FY2024 Apr – Jun 2024	Q3 FY2024 Jan – Mar 2024	Q2 FY2024 Oct – Dec 2023	Q1 FY2024 Jul – Sep 2023	Q4 FY2023 Apr – Jun 2023	Q3 FY2023 Jan – Mar 2023	Q2 FY2023 Oct – Dec 2022	Q1 FY2023 Jul – Sep 2022	Q4 FY2022 Apr – Jun 2022	Q3 FY2022 Jan – Mar 2022	Q2 FY2022 Oct – Dec 2021	Q1 FY2022 Jul – Sep 2021
Assets
Cash & short-term investments	550.4	388.5	439.7	537.1	387.7	169.0	232.3	192.9	188.0	144.6	209.8	281.3	238.8	237.5	285.5	231.6	364.3	61.0	69.3	57.6
Trade receivables	2,827.3	3,013.4	3,084.5	2,838.2	2,785.5	2,755.1	2,733.2	2,605.3	2,603.0	2,338.3	2,173.2	1,960.4	1,917.8	1,591.3	1,939.0	1,727.2	1,701.1	1,677.5	1,612.4	1,454.3
Inventories	2,008.3	1,656.1	1,486.0	1,368.1	1,576.4	1,824.8	1,568.9	1,712.2	1,427.9	1,503.2	1,772.2	1,659.3	1,468.1	1,448.2	1,407.0	1,843.5	1,650.9	1,648.1	1,857.0	1,246.1
Other current assets	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(0.0)
Total current assets	6,223.0	5,739.0	5,639.5	5,371.5	5,473.2	5,449.0	5,085.9	4,961.0	4,776.1	4,616.0	4,749.1	4,533.6	4,209.4	3,807.4	4,042.9	4,263.3	4,217.2	4,158.2	4,309.9	3,461.1
Property, plant & equipment	2,701.6	2,347.5	2,358.7	2,310.9	2,293.1	2,315.6	2,288.7	2,273.3	2,264.6	2,207.9	2,244.2	2,278.6	2,307.5	1,545.4	1,569.8	1,601.3	1,629.1	1,640.5	1,664.1	1,655.5
Intangible assets	—	—	—	—	—	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.2
Long-term investments	72.1	46.7	49.5	45.9	51.4	28.7	42.0	47.6	25.2	25.7	29.2	20.2	20.2	21.5	20.8	27.1	33.5	—	—	—
Other non-current assets	47.4	51.7	40.8	46.5	43.0	48.7	47.1	35.8	33.3	24.2	28.2	31.2	22.2	49.7	56.4	51.1	38.1	38.7	37.6	62.0
Total non-current assets	3,140.1	2,496.8	2,527.4	2,464.7	2,484.3	2,456.0	2,453.3	2,425.1	2,399.3	2,324.1	2,383.3	2,408.8	2,435.2	1,710.5	1,716.5	1,764.6	1,774.5	1,778.6	1,801.6	1,841.9
Total assets	9,363.1	8,235.8	8,166.9	7,836.2	7,957.5	7,904.9	7,539.3	7,386.1	7,175.4	6,940.1	7,132.3	6,942.4	6,644.6	5,517.9	5,759.4	6,027.9	5,991.7	5,936.7	6,111.5	5,303.0
Liabilities
Trade payables	2,497.0	2,396.6	2,587.4	2,240.0	2,300.9	2,811.0	2,511.5	2,291.6	2,141.0	1,858.7	2,438.7	2,221.4	2,029.4	1,569.6	1,476.5	1,719.9	1,773.8	1,664.1	2,173.5	1,700.4
Short-term borrowings & current portion of debt	1,947.7	1,459.5	1,437.7	1,379.6	1,423.9	829.9	825.7	876.9	880.0	1,104.5	623.3	442.8	653.4	750.3	1,105.4	1,081.5	1,441.7	1,648.2	1,301.1	1,030.2
Total current liabilities	4,496.8	4,038.4	4,062.3	3,665.4	3,773.0	3,682.8	3,393.5	3,229.3	3,083.5	3,027.7	3,110.9	2,953.1	2,727.4	2,377.3	2,673.9	2,855.2	3,269.0	3,361.0	3,511.5	2,801.9
Long-term debt	193.8	189.5	178.2	140.4	157.5	215.5	162.5	107.2	106.1	75.7	102.6	103.4	94.2	114.9	131.6	158.7	183.2	118.3	160.1	91.9
Other non-current liabilities	109.4	145.7	132.5	166.1	226.2	281.6	314.6	351.2	383.3	339.9	471.5	507.9	499.8	590.5	590.8	646.8	162.3	82.2	81.5	80.7
Total non-current liabilities	477.1	378.9	353.7	402.1	479.4	616.2	596.2	592.9	623.9	507.5	666.2	722.6	698.4	705.5	722.5	805.5	347.0	220.8	261.9	172.6
Total liabilities	4,973.9	4,417.4	4,416.0	4,067.5	4,252.3	4,299.0	3,989.6	3,822.1	3,707.4	3,535.2	3,777.1	3,675.7	3,425.8	3,082.8	3,396.3	3,660.7	3,615.9	3,581.8	3,773.4	2,974.5
Equity
Share capital	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	204.6	204.6	204.6	204.6	204.6	204.6	204.6
Reserves & retained earnings	4,137.3	3,566.5	3,498.8	3,516.6	3,453.1	3,352.7	3,296.4	3,310.7	3,214.8	3,151.5	3,101.8	3,013.2	2,965.2	2,217.1	2,148.2	2,156.1	2,163.5	2,144.3	2,126.8	2,118.5
Equity attributable to shareholders	4,382.8	3,812.0	3,744.4	3,762.1	3,698.6	3,598.2	3,541.9	3,556.2	3,460.3	3,397.0	3,347.3	3,258.7	3,210.7	2,421.7	2,352.8	2,360.7	2,368.0	2,348.9	2,331.4	2,323.1
Non-controlling interest	6.4	6.5	6.6	6.6	6.6	7.7	7.7	7.7	7.7	7.9	8.0	8.0	8.1	13.5	10.3	6.5	7.7	6.1	6.6	5.4
Total equity	4,389.2	3,818.5	3,750.9	3,768.7	3,705.2	3,605.9	3,549.6	3,563.9	3,468.0	3,404.9	3,355.2	3,266.7	3,218.8	2,435.2	2,363.1	2,367.2	2,375.8	2,355.0	2,338.0	2,328.4
Total liabilities & equity	9,363.1	8,235.8	8,166.9	7,836.2	7,957.5	7,904.9	7,539.3	7,386.1	7,175.4	6,940.1	7,132.3	6,942.4	6,644.6	5,517.9	5,759.4	6,027.9	5,991.7	5,936.7	6,111.5	5,303.0
Key figures
Total debt	2,141.5	1,649.1	1,616.0	1,519.9	1,581.3	1,045.5	988.2	984.1	986.1	1,180.2	725.9	546.2	747.6	865.2	1,237.1	1,240.1	1,624.9	1,766.5	1,461.2	1,122.0
Net debt / (net cash)	1,591.0	1,260.6	1,176.3	982.8	1,193.7	876.5	755.9	791.2	798.1	1,035.6	516.1	264.9	508.8	627.7	951.5	1,008.6	1,260.6	1,705.5	1,391.9	1,064.4
Shares outstanding mn	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6
Common equity	4,382.8	3,812.0	3,744.4	3,762.1	3,698.6	3,598.2	3,541.9	3,556.2	3,460.3	3,397.0	3,347.3	3,258.7	3,210.7	2,421.7	2,352.8	2,360.7	2,368.0	2,348.9	2,331.4	2,323.1
Book value per share (Rs) Rs	178.51	155.26	152.51	153.23	150.65	146.56	144.26	144.85	140.94	138.36	136.34	132.73	130.77	98.64	95.83	96.15	96.45	95.67	94.96	94.62

BERG balance sheet — year-on-year change (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 Apr – Jun 2025	Q3 FY2025 Jan – Mar 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024	Q4 FY2024 Apr – Jun 2024	Q3 FY2024 Jan – Mar 2024	Q2 FY2024 Oct – Dec 2023	Q1 FY2024 Jul – Sep 2023	Q4 FY2023 Apr – Jun 2023	Q3 FY2023 Jan – Mar 2023	Q2 FY2023 Oct – Dec 2022	Q1 FY2023 Jul – Sep 2022	Q4 FY2022 Apr – Jun 2022	Q3 FY2022 Jan – Mar 2022	Q2 FY2022 Oct – Dec 2021	Q1 FY2022 Jul – Sep 2021
Assets
Cash & short-term investments	+42.0%	+129.8%	+89.3%	+178.4%	+106.2%	+16.9%	+10.7%	-31.4%	-21.3%	-39.1%	-26.5%	+21.5%	-34.4%	+289.5%	+312.0%	+301.8%	—	-21.5%	-13.4%	-26.6%
Trade receivables	+1.5%	+9.4%	+12.9%	+8.9%	+7.0%	+17.8%	+25.8%	+32.9%	+35.7%	+46.9%	+12.1%	+13.5%	+12.7%	-5.1%	+20.3%	+18.8%	—	+30.2%	+26.5%	+11.8%
Inventories	+27.4%	-9.2%	-5.3%	-20.1%	+10.4%	+21.4%	-11.5%	+3.2%	-2.7%	+3.8%	+26.0%	-10.0%	-11.1%	-12.1%	-24.2%	+47.9%	—	+33.7%	+61.8%	+20.0%
Other current assets	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	+13.7%	+5.3%	+10.9%	+8.3%	+14.6%	+18.0%	+7.1%	+9.4%	+13.5%	+21.2%	+17.5%	+6.3%	-0.2%	-8.4%	-6.2%	+23.2%	—	+28.3%	+41.4%	+16.6%
Property, plant & equipment	+17.8%	+1.4%	+3.1%	+1.7%	+1.3%	+4.9%	+2.0%	-0.2%	-1.9%	+42.9%	+43.0%	+42.3%	+41.6%	-5.8%	-5.7%	-3.3%	—	-0.4%	+0.6%	-1.5%
Intangible assets	—	—	—	—	—	—	—	—	—	—	—	-100.0%	-100.0%	-100.0%	-100.0%	-94.5%	—	-99.7%	-99.5%	-99.3%
Long-term investments	+40.1%	+62.9%	+17.7%	-3.7%	+104.3%	+11.5%	+44.0%	+135.2%	+24.3%	+19.3%	+40.1%	-25.2%	-39.5%	—	—	—	—	—	—	—
Other non-current assets	+10.4%	+6.2%	-13.2%	+29.9%	+29.0%	+101.2%	+67.0%	+14.7%	+50.0%	-51.3%	-50.0%	-39.0%	-41.7%	+28.5%	+50.1%	-17.5%	—	+46.1%	+44.4%	+256.5%
Total non-current assets	+26.4%	+1.7%	+3.0%	+1.6%	+3.5%	+5.7%	+2.9%	+0.7%	-1.5%	+35.9%	+38.8%	+36.5%	+37.2%	-3.8%	-4.7%	-4.2%	—	-1.1%	+0.8%	+2.8%
Total assets	+17.7%	+4.2%	+8.3%	+6.1%	+10.9%	+13.9%	+5.7%	+6.4%	+8.0%	+25.8%	+23.8%	+15.2%	+10.9%	-7.1%	-5.8%	+13.7%	—	+17.8%	+26.4%	+11.4%
Liabilities
Trade payables	+8.5%	-14.7%	+3.0%	-2.3%	+7.5%	+51.2%	+3.0%	+3.2%	+5.5%	+18.4%	+65.2%	+29.2%	+14.4%	-5.7%	-32.1%	+1.1%	—	+6.3%	+47.6%	+36.9%
Short-term borrowings & current portion of debt	+36.8%	+75.9%	+74.1%	+57.3%	+61.8%	-24.9%	+32.5%	+98.0%	+34.7%	+47.2%	-43.6%	-59.1%	-54.7%	-54.5%	-15.0%	+5.0%	—	+64.1%	+48.2%	+2.4%
Total current liabilities	+19.2%	+9.7%	+19.7%	+13.5%	+22.4%	+21.6%	+9.1%	+9.4%	+13.1%	+27.4%	+16.3%	+3.4%	-16.6%	-29.3%	-23.9%	+1.9%	—	+29.1%	+47.1%	+22.4%
Long-term debt	+23.1%	-12.1%	+9.6%	+30.9%	+48.4%	+184.6%	+58.4%	+3.7%	+12.6%	-34.1%	-22.1%	-34.8%	-48.6%	-2.8%	-17.8%	+72.7%	—	-33.5%	-17.8%	-64.4%
Other non-current liabilities	-51.6%	-48.2%	-57.9%	-52.7%	-41.0%	-17.1%	-33.3%	-30.9%	-23.3%	-42.4%	-20.2%	-21.5%	+208.0%	+618.4%	+625.1%	+701.0%	—	+27.0%	-5.3%	-1.8%
Total non-current liabilities	-0.5%	-38.5%	-40.7%	-32.2%	-23.2%	+21.4%	-10.5%	-18.0%	-10.7%	-28.1%	-7.8%	-10.3%	+101.3%	+219.5%	+175.8%	+366.6%	—	-8.9%	-6.7%	-50.3%
Total liabilities	+17.0%	+2.8%	+10.7%	+6.4%	+14.7%	+21.6%	+5.6%	+4.0%	+8.2%	+14.7%	+11.2%	+0.4%	-5.3%	-13.9%	-10.0%	+23.1%	—	+25.9%	+41.4%	+12.9%
Equity
Share capital	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	+20.0%	+20.0%	+20.0%	+20.0%	0.0%	0.0%	0.0%	—	0.0%	0.0%	0.0%
Reserves & retained earnings	+19.8%	+6.4%	+6.1%	+6.2%	+7.4%	+6.4%	+6.3%	+9.9%	+8.4%	+42.1%	+44.4%	+39.7%	+37.1%	+3.4%	+1.0%	+1.8%	—	+8.4%	+9.0%	+10.8%
Equity attributable to shareholders	+18.5%	+5.9%	+5.7%	+5.8%	+6.9%	+5.9%	+5.8%	+9.1%	+7.8%	+40.3%	+42.3%	+38.0%	+35.6%	+3.1%	+0.9%	+1.6%	—	+7.6%	+8.1%	+9.8%
Non-controlling interest	-2.2%	-16.1%	-15.1%	-15.2%	-15.4%	-2.6%	-2.7%	-3.0%	-4.3%	-41.2%	-23.0%	+22.5%	+4.9%	+119.7%	+56.2%	+21.7%	—	-44.4%	-42.0%	-38.5%
Total equity	+18.5%	+5.9%	+5.7%	+5.7%	+6.8%	+5.9%	+5.8%	+9.1%	+7.7%	+39.8%	+42.0%	+38.0%	+35.5%	+3.4%	+1.1%	+1.7%	—	+7.4%	+7.9%	+9.6%
Total liabilities & equity	+17.7%	+4.2%	+8.3%	+6.1%	+10.9%	+13.9%	+5.7%	+6.4%	+8.0%	+25.8%	+23.8%	+15.2%	+10.9%	-7.1%	-5.8%	+13.7%	—	+17.8%	+26.4%	+11.4%
Key figures
Total debt	+35.4%	+57.7%	+63.5%	+54.4%	+60.4%	-11.4%	+36.1%	+80.2%	+31.9%	+36.4%	-41.3%	-56.0%	-54.0%	-51.0%	-15.3%	+10.5%	—	+49.4%	+36.2%	-11.2%
Net debt / (net cash)	+33.3%	+43.8%	+55.6%	+24.2%	+49.6%	-15.4%	+46.5%	+198.6%	+56.9%	+65.0%	-45.8%	-73.7%	-59.6%	-63.2%	-31.6%	-5.2%	—	+54.4%	+40.2%	-10.2%
Shares outstanding	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Common equity	+18.5%	+5.9%	+5.7%	+5.8%	+6.9%	+5.9%	+5.8%	+9.1%	+7.8%	+40.3%	+42.3%	+38.0%	+35.6%	+3.1%	+0.9%	+1.6%	—	+7.6%	+8.1%	+9.8%
Book value per share (Rs)	+18.5%	+5.9%	+5.7%	+5.8%	+6.9%	+5.9%	+5.8%	+9.1%	+7.8%	+40.3%	+42.3%	+38.0%	+35.6%	+3.1%	+0.9%	+1.6%	—	+7.6%	+8.1%	+9.8%

Change against the same quarter a year earlier; shown when the earlier figure is positive.

BERG balance sheet — common size (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 Apr – Jun 2025	Q3 FY2025 Jan – Mar 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024	Q4 FY2024 Apr – Jun 2024	Q3 FY2024 Jan – Mar 2024	Q2 FY2024 Oct – Dec 2023	Q1 FY2024 Jul – Sep 2023	Q4 FY2023 Apr – Jun 2023	Q3 FY2023 Jan – Mar 2023	Q2 FY2023 Oct – Dec 2022	Q1 FY2023 Jul – Sep 2022	Q4 FY2022 Apr – Jun 2022	Q3 FY2022 Jan – Mar 2022	Q2 FY2022 Oct – Dec 2021	Q1 FY2022 Jul – Sep 2021
Assets
Cash & short-term investments	5.9%	4.7%	5.4%	6.9%	4.9%	2.1%	3.1%	2.6%	2.6%	2.1%	2.9%	4.1%	3.6%	4.3%	5.0%	3.8%	6.1%	1.0%	1.1%	1.1%
Trade receivables	30.2%	36.6%	37.8%	36.2%	35.0%	34.9%	36.3%	35.3%	36.3%	33.7%	30.5%	28.2%	28.9%	28.8%	33.7%	28.7%	28.4%	28.3%	26.4%	27.4%
Inventories	21.4%	20.1%	18.2%	17.5%	19.8%	23.1%	20.8%	23.2%	19.9%	21.7%	24.8%	23.9%	22.1%	26.2%	24.4%	30.6%	27.6%	27.8%	30.4%	23.5%
Other current assets	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(0.0%)
Total current assets	66.5%	69.7%	69.1%	68.5%	68.8%	68.9%	67.5%	67.2%	66.6%	66.5%	66.6%	65.3%	63.4%	69.0%	70.2%	70.7%	70.4%	70.0%	70.5%	65.3%
Property, plant & equipment	28.9%	28.5%	28.9%	29.5%	28.8%	29.3%	30.4%	30.8%	31.6%	31.8%	31.5%	32.8%	34.7%	28.0%	27.3%	26.6%	27.2%	27.6%	27.2%	31.2%
Intangible assets	—	—	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Long-term investments	0.8%	0.6%	0.6%	0.6%	0.6%	0.4%	0.6%	0.6%	0.4%	0.4%	0.4%	0.3%	0.3%	0.4%	0.4%	0.4%	0.6%	—	—	—
Other non-current assets	0.5%	0.6%	0.5%	0.6%	0.5%	0.6%	0.6%	0.5%	0.5%	0.3%	0.4%	0.4%	0.3%	0.9%	1.0%	0.8%	0.6%	0.7%	0.6%	1.2%
Total non-current assets	33.5%	30.3%	30.9%	31.5%	31.2%	31.1%	32.5%	32.8%	33.4%	33.5%	33.4%	34.7%	36.6%	31.0%	29.8%	29.3%	29.6%	30.0%	29.5%	34.7%
Total assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Trade payables	26.7%	29.1%	31.7%	28.6%	28.9%	35.6%	33.3%	31.0%	29.8%	26.8%	34.2%	32.0%	30.5%	28.4%	25.6%	28.5%	29.6%	28.0%	35.6%	32.1%
Short-term borrowings & current portion of debt	20.8%	17.7%	17.6%	17.6%	17.9%	10.5%	11.0%	11.9%	12.3%	15.9%	8.7%	6.4%	9.8%	13.6%	19.2%	17.9%	24.1%	27.8%	21.3%	19.4%
Total current liabilities	48.0%	49.0%	49.7%	46.8%	47.4%	46.6%	45.0%	43.7%	43.0%	43.6%	43.6%	42.5%	41.0%	43.1%	46.4%	47.4%	54.6%	56.6%	57.5%	52.8%
Long-term debt	2.1%	2.3%	2.2%	1.8%	2.0%	2.7%	2.2%	1.5%	1.5%	1.1%	1.4%	1.5%	1.4%	2.1%	2.3%	2.6%	3.1%	2.0%	2.6%	1.7%
Other non-current liabilities	1.2%	1.8%	1.6%	2.1%	2.8%	3.6%	4.2%	4.8%	5.3%	4.9%	6.6%	7.3%	7.5%	10.7%	10.3%	10.7%	2.7%	1.4%	1.3%	1.5%
Total non-current liabilities	5.1%	4.6%	4.3%	5.1%	6.0%	7.8%	7.9%	8.0%	8.7%	7.3%	9.3%	10.4%	10.5%	12.8%	12.5%	13.4%	5.8%	3.7%	4.3%	3.3%
Total liabilities	53.1%	53.6%	54.1%	51.9%	53.4%	54.4%	52.9%	51.7%	51.7%	50.9%	53.0%	52.9%	51.6%	55.9%	59.0%	60.7%	60.3%	60.3%	61.7%	56.1%
Equity
Share capital	2.6%	3.0%	3.0%	3.1%	3.1%	3.1%	3.3%	3.3%	3.4%	3.5%	3.4%	3.5%	3.7%	3.7%	3.6%	3.4%	3.4%	3.4%	3.3%	3.9%
Reserves & retained earnings	44.2%	43.3%	42.8%	44.9%	43.4%	42.4%	43.7%	44.8%	44.8%	45.4%	43.5%	43.4%	44.6%	40.2%	37.3%	35.8%	36.1%	36.1%	34.8%	39.9%
Equity attributable to shareholders	46.8%	46.3%	45.8%	48.0%	46.5%	45.5%	47.0%	48.1%	48.2%	48.9%	46.9%	46.9%	48.3%	43.9%	40.9%	39.2%	39.5%	39.6%	38.1%	43.8%
Non-controlling interest	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.2%	0.2%	0.1%	0.1%	0.1%	0.1%	0.1%
Total equity	46.9%	46.4%	45.9%	48.1%	46.6%	45.6%	47.1%	48.3%	48.3%	49.1%	47.0%	47.1%	48.4%	44.1%	41.0%	39.3%	39.7%	39.7%	38.3%	43.9%
Total liabilities & equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Key figures
Total debt	22.9%	20.0%	19.8%	19.4%	19.9%	13.2%	13.1%	13.3%	13.7%	17.0%	10.2%	7.9%	11.3%	15.7%	21.5%	20.6%	27.1%	29.8%	23.9%	21.2%
Net debt / (net cash)	17.0%	15.3%	14.4%	12.5%	15.0%	11.1%	10.0%	10.7%	11.1%	14.9%	7.2%	3.8%	7.7%	11.4%	16.5%	16.7%	21.0%	28.7%	22.8%	20.1%
Common equity	46.8%	46.3%	45.8%	48.0%	46.5%	45.5%	47.0%	48.1%	48.2%	48.9%	46.9%	46.9%	48.3%	43.9%	40.9%	39.2%	39.5%	39.6%	38.1%	43.8%

Each line as a percentage of total assets.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. Updated 16 Oct 2026.

All reported line items 119

BERG balance sheet — all reported line items (Rs mn)
Rs mn	Q4 FY2026 Apr – Jun 2026	Q3 FY2026 Jan – Mar 2026	Q2 FY2026 Oct – Dec 2025	Q1 FY2026 Jul – Sep 2025	Q4 FY2025 Apr – Jun 2025	Q3 FY2025 Jan – Mar 2025	Q2 FY2025 Oct – Dec 2024	Q1 FY2025 Jul – Sep 2024	Q4 FY2024 Apr – Jun 2024	Q3 FY2024 Jan – Mar 2024	Q2 FY2024 Oct – Dec 2023	Q1 FY2024 Jul – Sep 2023	Q4 FY2023 Apr – Jun 2023	Q3 FY2023 Jan – Mar 2023	Q2 FY2023 Oct – Dec 2022	Q1 FY2023 Jul – Sep 2022	Q4 FY2022 Apr – Jun 2022	Q3 FY2022 Jan – Mar 2022	Q2 FY2022 Oct – Dec 2021	Q1 FY2022 Jul – Sep 2021
Cash & Cash Equivalents	423.1	267.5	318.7	436.1	296.7	78.0	141.3	101.9	67.0	53.6	88.8	77.8	47.8	46.5	94.5	40.6	224.3	31.0	39.3	27.6
Cash & Short Term Investments	550.4	388.5	439.7	537.1	387.7	169.0	232.3	192.9	188.0	144.6	209.8	281.3	238.8	237.5	285.5	231.6	364.3	61.0	69.3	57.6
Short-Term Investments - Total	127.4	121.0	121.0	101.0	91.0	91.0	91.0	91.0	121.0	91.0	121.0	203.5	191.0	191.0	191.0	191.0	140.0	30.0	30.0	30.0
Loans & Receivables - Net - Short-Term	3,613.8	3,655.6	3,675.0	3,416.8	3,454.6	3,401.0	3,248.3	3,017.8	3,124.7	2,939.5	2,734.7	2,563.8	2,470.6	2,085.6	2,331.1	2,159.5	2,175.0	2,417.0	2,364.2	2,121.3
Loans & Receivables - Total	3,641.6	3,662.9	3,708.9	3,427.2	3,500.2	3,405.3	3,265.1	3,040.9	3,152.0	2,963.4	2,771.0	2,596.2	2,507.9	2,126.4	2,373.8	2,209.4	2,213.7	2,445.6	2,391.8	2,161.4
Trade Accounts & Trade Notes Receivable - Net	2,827.3	3,013.4	3,084.5	2,838.2	2,785.5	2,755.1	2,733.2	2,605.3	2,603.0	2,338.3	2,173.2	1,960.4	1,917.8	1,591.3	1,939.0	1,727.2	1,701.1	1,677.5	1,612.4	1,454.3
Loans - Short-Term	290.2	304.2	284.1	217.9	255.0	354.3	275.7	158.6	243.9	390.7	342.6	319.5	277.3	233.1	173.2	138.6	186.9	258.8	243.9	282.8
Income Tax - Receivables - Short-Term	287.0	297.0	265.7	316.1	277.3	230.5	201.3	216.3	238.5	156.6	152.7	224.4	209.9	231.6	192.6	272.2	222.6	290.1	333.7	209.0
Receivables - Other - Total	209.2	41.0	40.8	44.6	136.8	61.2	38.1	37.6	39.3	53.9	66.3	59.6	65.5	29.6	26.3	21.4	64.4	190.7	174.2	175.2
Inventories - Total	2,008.3	1,656.1	1,486.0	1,368.1	1,576.4	1,824.8	1,568.9	1,712.2	1,427.9	1,503.2	1,772.2	1,659.3	1,468.1	1,448.2	1,407.0	1,843.5	1,650.9	1,648.1	1,857.0	1,246.1
Inventories - Raw Materials	31.0	36.6	32.6	37.7	35.5	34.6	31.3	32.6	30.9	30.1	32.8	31.4	30.3	31.3	30.0	25.3	22.7	20.1	21.4	19.3
Inventories - Finished Goods	1,977.3	1,619.5	1,453.4	1,330.5	1,540.9	1,790.2	1,537.6	1,679.6	1,397.0	1,473.1	1,739.5	1,627.9	1,437.8	1,417.0	1,377.0	1,818.2	1,628.2	1,628.0	1,835.6	1,226.8
Prepaid Expenses - Short-Term	50.5	38.8	38.9	49.5	54.6	54.1	36.4	38.0	35.5	28.7	32.3	29.2	31.9	36.1	19.3	28.7	27.0	32.1	19.4	36.1
Investments - Total	199.4	167.7	170.5	146.9	142.4	119.7	133.0	138.6	146.2	116.7	150.2	223.7	211.2	212.5	211.8	218.1	173.5	30.0	30.0	30.0
Other Current Assets - Total	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(0.0)
Property, Plant & Equipment - Net - Total	2,701.6	2,347.5	2,358.7	2,310.9	2,293.1	2,315.6	2,288.7	2,273.3	2,264.6	2,207.9	2,244.2	2,278.6	2,307.5	1,545.4	1,569.8	1,601.3	1,629.1	1,640.5	1,664.1	1,655.5
Other Assets - Total	47.4	51.7	40.8	46.5	43.0	48.7	47.1	35.8	33.3	24.2	28.2	31.2	22.2	49.7	56.4	51.1	38.1	38.7	37.6	62.0
Investments in Associates, Joint Ventures and Unconsolidated Subsidiaries	45.1	43.7	44.5	51.0	51.2	58.7	58.7	45.3	48.9	42.4	45.5	46.4	48.0	53.1	26.7	35.1	35.2	70.7	72.2	84.1
Intangible Assets - Total - Net	—	—	—	—	—	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.2
Total Current Assets	6,223.0	5,739.0	5,639.5	5,371.5	5,473.2	5,449.0	5,085.9	4,961.0	4,776.1	4,616.0	4,749.1	4,533.6	4,209.4	3,807.4	4,042.9	4,263.3	4,217.2	4,158.2	4,309.9	3,461.1
Intangible Assets - excluding Goodwill - Net - Total	—	—	—	—	—	—	—	—	—	—	—	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.2
Investments - Long-Term	72.1	46.7	49.5	45.9	51.4	28.7	42.0	47.6	25.2	25.7	29.2	20.2	20.2	21.5	20.8	27.1	33.5	—	—	—
Investment Property - Net	3.8	—	3.8	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Investments - Available for Sale/Held to Maturity - Long-Term	68.3	46.7	45.7	45.9	51.4	28.7	42.0	47.6	25.2	25.7	29.2	20.2	20.2	21.5	20.8	27.1	33.5	—	—	—
Receivables & Loans - Long-Term	27.8	7.3	33.9	10.4	45.5	4.3	16.8	23.1	27.3	23.8	36.3	32.4	37.3	40.8	42.7	49.9	38.6	28.6	27.6	40.1
Loans - Long-Term	27.8	7.3	33.9	10.4	45.5	4.3	16.8	23.1	27.3	23.8	36.3	32.4	37.3	40.8	42.7	49.9	38.6	28.6	27.6	40.1
Total Assets	9,363.1	8,235.8	8,166.9	7,836.2	7,957.5	7,904.9	7,539.3	7,386.1	7,175.4	6,940.1	7,132.3	6,942.4	6,644.6	5,517.9	5,759.4	6,027.9	5,991.7	5,936.7	6,111.5	5,303.0
Debt - Total	2,141.5	1,649.1	1,616.0	1,519.9	1,581.3	1,045.5	988.2	984.1	986.1	1,180.2	725.9	546.2	747.6	865.2	1,237.1	1,240.1	1,624.9	1,766.5	1,461.2	1,122.0
Short-Term Debt & Current Portion of Long-Term Debt	1,947.7	1,459.5	1,437.7	1,379.6	1,423.9	829.9	825.7	876.9	880.0	1,104.5	623.3	442.8	653.4	750.3	1,105.4	1,081.5	1,441.7	1,648.2	1,301.1	1,030.2
Current Portion of Long-Term Debt including Capitalized Leases	110.4	—	186.6	222.4	222.4	171.8	222.0	210.3	210.3	227.8	217.8	—	228.1	97.4	97.4	27.7	67.7	144.9	144.9	109.7
Short-Term Debt & Notes Payable	1,837.3	1,459.5	1,251.2	1,157.2	1,201.5	658.2	603.7	666.5	669.6	876.6	405.5	442.8	425.3	652.9	1,008.1	1,053.8	1,373.9	1,503.4	1,156.3	920.5
Debt - Long-Term - Total	193.8	189.5	178.2	140.4	157.5	215.5	162.5	107.2	106.1	75.7	102.6	103.4	94.2	114.9	131.6	158.7	183.2	118.3	160.1	91.9
Current Portion of Long-Term Debt excluding Capitalized Leases	110.4	—	186.6	222.4	222.4	171.8	222.0	210.3	210.3	227.8	217.8	—	228.1	97.4	97.4	27.7	67.7	144.9	144.9	109.7
Assets Held for Sale/Discontinued Operations - Long-Term	246.1	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Long-Term Debt excluding Capitalized Leases	193.8	189.5	178.2	140.4	157.5	215.5	162.5	107.2	106.1	75.7	102.6	103.4	94.2	114.9	131.6	158.7	183.2	118.3	160.1	91.9
Other Non-Current Assets - Total	47.4	51.7	40.8	46.5	43.0	48.7	47.1	35.8	33.3	24.2	28.2	31.2	22.2	49.7	56.4	51.1	38.1	38.7	37.6	62.0
Debt - Non-Convertible - Long-Term	193.8	189.5	178.2	140.4	157.5	215.5	162.5	107.2	106.1	75.7	102.6	103.4	94.2	114.9	131.6	158.7	183.2	118.3	160.1	91.9
Dividends Payable	7.7	8.0	8.0	13.5	13.5	20.8	20.8	12.5	12.5	12.7	13.1	13.1	13.1	13.1	43.9	6.6	6.8	6.8	6.8	7.5
Deferred Tax - Asset - Long-Term	—	—	—	—	—	—	—	—	—	—	—	6.7	—	14.0	14.0	13.0	—	0.0	0.0	24.7
Deferred Tax & Investment Tax Credits - Long-Term	173.9	43.6	43.0	95.7	95.7	119.0	119.0	134.4	134.4	91.9	92.1	111.4	104.5	0.0	0.0	0.0	1.5	20.3	20.3	—
Deferred Tax - Liability - Long-Term	173.9	43.6	43.0	95.7	95.7	119.0	119.0	134.4	134.4	91.9	92.1	111.4	104.5	0.0	0.0	0.0	1.5	20.3	20.3	—
Payables & Accrued Expenses	2,497.0	2,396.6	2,587.4	2,240.0	2,300.9	2,811.0	2,511.5	2,291.6	2,141.0	1,858.7	2,438.7	2,221.4	2,029.4	1,569.6	1,476.5	1,719.9	1,773.8	1,664.1	2,173.5	1,700.4
Trade Account Payables - Total	2,497.0	2,396.6	2,587.4	2,240.0	2,300.9	2,811.0	2,511.5	2,291.6	2,141.0	1,858.7	2,438.7	2,221.4	2,029.4	1,569.6	1,476.5	1,719.9	1,773.8	1,664.1	2,173.5	1,700.4
Other Non-Current Assets	47.4	51.7	40.8	46.5	43.0	48.7	47.1	35.8	33.3	24.2	28.2	24.5	22.2	35.7	42.5	38.2	38.1	38.7	37.6	37.3
Total Liabilities	4,973.9	4,417.4	4,416.0	4,067.5	4,252.3	4,299.0	3,989.6	3,822.1	3,707.4	3,535.2	3,777.1	3,675.7	3,425.8	3,082.8	3,396.3	3,660.7	3,615.9	3,581.8	3,773.4	2,974.5
Shareholders' Equity - Attributable to Parent Shareholders - Total	4,382.8	3,812.0	3,744.4	3,762.1	3,698.6	3,598.2	3,541.9	3,556.2	3,460.3	3,397.0	3,347.3	3,258.7	3,210.7	2,421.7	2,352.8	2,360.7	2,368.0	2,348.9	2,331.4	2,323.1
Total Non-Current Assets	3,140.1	2,496.8	2,527.4	2,464.7	2,484.3	2,456.0	2,453.3	2,425.1	2,399.3	2,324.1	2,383.3	2,408.8	2,435.2	1,710.5	1,716.5	1,764.6	1,774.5	1,778.6	1,801.6	1,841.9
Common Equity Attributable to Parent Shareholders	4,382.8	3,812.0	3,744.4	3,762.1	3,698.6	3,598.2	3,541.9	3,556.2	3,460.3	3,397.0	3,347.3	3,258.7	3,210.7	2,421.7	2,352.8	2,360.7	2,368.0	2,348.9	2,331.4	2,323.1
Common Equity - Contributed	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	204.6	204.6	204.6	204.6	204.6	204.6	204.6
Common Stock - Issued & Paid	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	245.5	204.6	204.6	204.6	204.6	204.6	204.6	204.6
Equity - Non-Contributed - Reserves & Retained Earnings	4,137.3	3,566.5	3,498.8	3,516.6	3,453.1	3,352.7	3,296.4	3,310.7	3,214.8	3,151.5	3,101.8	3,013.2	2,965.2	2,217.1	2,148.2	2,156.1	2,163.5	2,144.3	2,126.8	2,118.5
Retained Earnings - Total	2,026.0	1,943.7	1,844.8	1,857.2	1,775.0	1,689.3	1,600.5	1,626.4	1,492.1	1,407.6	1,351.3	1,255.8	1,184.6	1,120.4	1,046.8	1,045.6	1,048.2	1,308.7	1,287.5	1,273.4
Trade Accounts Payable & Accruals - Short-Term	2,497.0	2,396.6	2,587.4	2,240.0	2,300.9	2,811.0	2,511.5	2,291.6	2,141.0	1,858.7	2,438.7	2,221.4	2,029.4	1,569.6	1,476.5	1,719.9	1,773.8	1,664.1	2,173.5	1,700.4
Comprehensive Income - Accumulated - Total	1,826.2	1,337.7	1,369.1	1,374.4	1,393.1	1,378.5	1,410.9	1,399.2	1,437.7	1,458.9	1,465.4	1,472.3	1,495.6	811.7	816.4	825.5	830.3	835.5	839.3	845.1
Trade Accounts & Trade Notes Payable - Short-Term	2,497.0	2,396.6	2,587.4	2,240.0	2,300.9	2,811.0	2,511.5	2,291.6	2,141.0	1,858.7	2,438.7	2,221.4	2,029.4	1,569.6	1,476.5	1,719.9	1,773.8	1,664.1	2,173.5	1,700.4
Other Reserves/Equity - Total	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	285.0	—	—	—
Dividends/Distributions Payable	7.7	8.0	8.0	13.5	13.5	20.8	20.8	12.5	12.5	12.7	13.1	13.1	13.1	13.1	43.9	6.6	6.8	6.8	6.8	7.5
Other Current Liabilities - Total	44.5	174.3	29.2	32.3	34.7	21.0	35.4	48.3	50.0	51.7	35.7	275.7	31.5	44.3	48.0	47.2	46.7	41.8	30.1	63.8
Common Equity - Total	4,382.8	3,812.0	3,744.4	3,762.1	3,698.6	3,598.2	3,541.9	3,556.2	3,460.3	3,397.0	3,347.3	3,258.7	3,210.7	2,421.7	2,352.8	2,360.7	2,368.0	2,348.9	2,331.4	2,323.1
Deferred Income - Short-Term	—	139.1	—	—	—	—	—	—	—	—	—	228.1	—	6.3	6.3	1.4	1.4	3.0	3.0	—
Minority Interest - Equity	6.4	6.5	6.6	6.6	6.6	7.7	7.7	7.7	7.7	7.9	8.0	8.0	8.1	13.5	10.3	6.5	7.7	6.1	6.6	5.4
Total Shareholders' Equity - including Minority Interest & Hybrid Debt	4,389.2	3,818.5	3,750.9	3,768.7	3,705.2	3,605.9	3,549.6	3,563.9	3,468.0	3,404.9	3,355.2	3,266.7	3,218.8	2,435.2	2,363.1	2,367.2	2,375.8	2,355.0	2,338.0	2,328.4
Total Liabilities & Equity	9,363.1	8,235.8	8,166.9	7,836.2	7,957.5	7,904.9	7,539.3	7,386.1	7,175.4	6,940.1	7,132.3	6,942.4	6,644.6	5,517.9	5,759.4	6,027.9	5,991.7	5,936.7	6,111.5	5,303.0
Other Current Liabilities	44.5	35.3	29.2	32.3	34.7	21.0	35.4	48.3	50.0	51.7	35.7	47.7	31.5	38.0	41.7	45.8	45.3	38.8	27.1	63.8
Revaluation Reserves	1,826.2	1,337.7	1,369.1	1,374.4	1,393.1	1,378.5	1,410.9	1,399.2	1,437.7	1,458.9	1,465.4	1,472.3	1,495.6	811.7	816.4	825.5	830.3	835.5	839.3	845.1
Total Current Liabilities	4,496.8	4,038.4	4,062.3	3,665.4	3,773.0	3,682.8	3,393.5	3,229.3	3,083.5	3,027.7	3,110.9	2,953.1	2,727.4	2,377.3	2,673.9	2,855.2	3,269.0	3,361.0	3,511.5	2,801.9
Other Non-Current Liabilities - Total	109.4	145.7	132.5	166.1	226.2	281.6	314.6	351.2	383.3	339.9	471.5	507.9	499.8	590.5	590.8	646.8	162.3	82.2	81.5	80.7
Provisions - Long-Term	101.3	133.7	122.5	154.0	172.5	184.0	175.3	167.0	157.5	67.9	160.9	152.9	144.7	149.1	149.4	145.6	144.0	80.2	78.7	77.2
Post Employment Benefits - Pension & Other - Long-Term	101.3	133.7	122.5	154.0	172.5	184.0	175.3	167.0	157.5	67.9	160.9	152.9	144.7	149.1	149.4	145.6	144.0	80.2	78.7	77.2
Deferred Revenue - Long-Term	8.2	12.1	10.0	12.1	12.1	14.3	14.3	17.5	17.5	21.7	18.9	21.7	21.7	24.8	24.8	1.2	2.3	2.0	2.8	3.6
Other Non-Current Liabilities	0.0	—	0.0	0.0	41.7	83.3	125.0	166.7	208.3	250.3	291.7	333.3	333.3	416.7	416.7	500.0	16.0	—	—	—
Total Non-Current Liabilities	477.1	378.9	353.7	402.1	479.4	616.2	596.2	592.9	623.9	507.5	666.2	722.6	698.4	705.5	722.5	805.5	347.0	220.8	261.9	172.6
Common Shares - Issued - Total mn	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6
Common Shares - Outstanding - Total mn	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6
Common Shares - Treasury - Total mn	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Common Shares - Authorized - Issue Specific mn	50.0	—	50.0	50.0	50.0	50.0	50.0	50.0	50.0	25.0	25.0	25.0	25.0	30.0	30.0	30.0	30.0	30.0	30.0	30.0
Common Shares - Issued - Issue Specific mn	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6
Common Shares - Outstanding - Issue Specific mn	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6	24.6
Common Shares - Treasury - Issue Specific mn	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Asset Allocation Factor - Issue Specific	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×
Debt including Finance and Operating Lease Liabilities - Supplemental	2,141.5	1,649.1	1,616.0	1,519.9	1,581.3	1,045.5	988.2	984.1	986.1	1,180.2	725.9	546.2	747.6	865.2	1,237.1	1,240.1	1,624.9	1,766.5	1,461.2	1,122.0
Net Debt	1,591.0	1,260.6	1,176.3	982.8	1,193.7	876.5	755.9	791.2	798.1	1,035.6	516.1	264.9	508.8	627.7	951.5	1,008.6	1,260.6	1,705.5	1,391.9	1,064.4
Minority Interest - Total	6.4	6.5	6.6	6.6	6.6	7.7	7.7	7.7	7.7	7.9	8.0	8.0	8.1	13.5	10.3	6.5	7.7	6.1	6.6	5.4
Asset Accruals	8,912.2	7,961.1	7,814.3	7,389.7	7,615.3	7,822.6	7,381.2	7,261.1	7,081.1	6,862.7	7,007.3	6,832.2	6,559.5	5,430.7	5,622.2	5,937.4	5,728.8	5,877.2	6,044.6	5,235.2
Cash & Cash Equivalents - Total	423.1	267.5	318.7	436.1	296.7	78.0	141.3	101.9	67.0	53.6	88.8	77.8	47.8	46.5	94.5	40.6	224.3	31.0	39.3	27.6
Cash & Short Term Investments - Total	550.4	388.5	439.7	537.1	387.7	169.0	232.3	192.9	188.0	144.6	209.8	281.3	238.8	237.5	285.5	231.6	364.3	61.0	69.3	57.6
Debt - including Preferred Equity & Minority Interest - Total	2,147.9	1,655.6	1,622.5	1,526.5	1,587.9	1,053.2	996.0	991.8	993.8	1,188.1	733.9	554.2	755.7	878.7	1,247.4	1,246.7	1,632.6	1,772.6	1,467.9	1,127.4
Investments - Permanent	117.1	90.4	93.9	96.8	102.7	87.4	100.8	92.9	74.0	68.1	74.6	66.6	68.3	74.6	47.6	62.2	68.6	70.7	72.2	84.1
Net Book Capital	5,980.2	5,079.1	4,927.2	4,751.5	4,898.9	4,482.4	4,305.6	4,355.1	4,266.2	4,440.5	3,871.3	3,531.6	3,727.6	3,062.9	3,314.6	3,375.8	3,636.4	4,060.5	3,730.0	3,392.8
Net Operating Assets	5,980.2	5,079.1	4,927.2	4,751.5	4,898.9	4,482.4	4,305.6	4,355.1	4,266.2	4,440.5	3,871.3	3,531.6	3,727.6	3,062.9	3,314.6	3,375.8	3,636.4	4,060.5	3,730.0	3,392.8
Provisions - Total	275.1	177.3	165.4	249.7	268.2	303.0	294.3	301.4	291.9	159.8	253.0	264.2	249.2	149.1	149.4	145.6	145.5	100.6	99.1	77.2
Shareholders Equity - Common	4,382.8	3,812.0	3,744.4	3,762.1	3,698.6	3,598.2	3,541.9	3,556.2	3,460.3	3,397.0	3,347.3	3,258.7	3,210.7	2,421.7	2,352.8	2,360.7	2,368.0	2,348.9	2,331.4	2,323.1
Tangible Total Equity	4,389.2	3,818.5	3,750.9	3,768.7	3,705.2	3,605.9	3,549.6	3,563.9	3,468.0	3,404.9	3,355.2	3,266.7	3,218.8	2,435.2	2,363.1	2,367.2	2,375.8	2,354.9	2,337.9	2,328.3
Tangible Book Value	4,382.8	3,812.0	3,744.4	3,762.1	3,698.6	3,598.2	3,541.9	3,556.2	3,460.3	3,397.0	3,347.3	3,258.7	3,210.7	2,421.7	2,352.8	2,360.7	2,368.0	2,348.8	2,331.3	2,322.9
Total Book Capital	6,524.3	5,461.1	5,360.3	5,282.0	5,280.0	4,643.7	4,530.1	4,540.3	4,446.4	4,577.2	4,073.2	3,804.9	3,958.4	3,286.9	3,589.8	3,600.9	3,992.9	4,115.3	3,792.7	3,445.1
Total Capital	6,530.7	5,467.6	5,366.9	5,288.6	5,286.5	4,651.4	4,537.9	4,548.0	4,454.1	4,585.1	4,081.2	3,812.9	3,966.5	3,300.4	3,600.2	3,607.4	4,000.7	4,121.5	3,799.3	3,450.5
Total Long Term Capital	4,866.3	4,197.4	4,104.6	4,170.8	4,184.5	4,222.2	4,145.8	4,156.8	4,091.9	3,912.4	4,021.4	3,989.3	3,917.3	3,140.6	3,085.5	3,172.7	2,722.7	2,575.8	2,600.0	2,501.1
Unearned Revenue - Total	8.2	151.1	10.0	12.1	12.1	14.3	14.3	17.5	17.5	21.7	18.9	249.8	21.7	31.0	31.0	2.6	3.6	5.0	5.8	3.6
Book Value excluding Other Equity	4,097.8	3,527.0	3,459.4	3,477.1	3,413.6	3,313.2	3,256.9	3,271.2	3,175.3	3,112.0	3,062.3	2,973.7	2,925.7	2,136.7	2,067.8	2,075.7	2,083.0	2,348.9	2,331.4	2,323.1
Assets Held for Sale/Discontinued Operations - Long-Term & Short-Term	246.1	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Accruals - Short-Term	1,303.1	1,433.1	1,258.5	1,270.0	1,403.6	1,688.1	1,551.2	1,629.8	1,625.6	1,534.8	1,549.3	1,502.7	1,434.2	1,383.7	1,274.5	1,367.5	723.9	766.3	759.1	631.5
Cash & Short Term Investments - Net of Debt	(1,591.0)	(1,260.6)	(1,176.3)	(982.8)	(1,193.7)	(876.5)	(755.9)	(791.2)	(798.1)	(1,035.6)	(516.1)	(264.9)	(508.8)	(627.7)	(951.5)	(1,008.6)	(1,260.6)	(1,705.5)	(1,391.9)	(1,064.4)
Current Portion of Long-Term Debt including Capitalized Leases & Hybrid Financial Instruments	110.4	—	186.6	222.4	222.4	171.8	222.0	210.3	210.3	227.8	217.8	—	228.1	97.4	97.4	27.7	67.7	144.9	144.9	109.7
Total Fixed Assets - Net	3,112.3	2,489.6	2,493.5	2,454.3	2,438.7	2,451.7	2,436.5	2,402.0	2,372.0	2,300.2	2,347.0	2,376.4	2,397.9	1,669.7	1,673.8	1,714.7	1,735.9	1,750.0	1,774.0	1,801.8
Working Capital	1,726.2	1,700.6	1,577.2	1,706.1	1,700.3	1,766.2	1,692.5	1,731.7	1,692.6	1,588.3	1,638.1	1,580.5	1,482.0	1,430.1	1,369.0	1,408.1	948.2	797.2	798.4	659.2
Interest Bearing Liabilities - Total	2,141.5	1,649.1	1,616.0	1,519.9	1,581.3	1,045.5	988.2	984.1	986.1	1,180.2	725.9	546.2	747.6	865.2	1,237.1	1,240.1	1,624.9	1,766.5	1,461.2	1,122.0
Working Capital - Non-Cash	1,175.7	1,312.1	1,137.5	1,169.0	1,312.6	1,597.1	1,460.2	1,538.8	1,504.6	1,443.8	1,428.3	1,299.2	1,243.2	1,192.7	1,083.5	1,176.5	583.9	736.3	729.1	601.5
Working Capital excluding Other Current Assets & Liabilities	1,770.6	1,874.9	1,606.4	1,738.4	1,734.9	1,787.2	1,727.9	1,780.0	1,742.6	1,640.1	1,673.9	1,856.2	1,513.5	1,474.4	1,417.0	1,455.3	994.9	839.1	828.4	722.9
Net Debt Including Preferred Equity & Minority Interest	1,597.4	1,267.1	1,182.8	989.4	1,200.2	884.2	763.7	798.9	805.9	1,043.5	524.1	272.9	516.9	641.2	961.9	1,015.1	1,268.3	1,711.7	1,398.6	1,069.8
Other Short-Term & Long-Term Assets - Total	47.4	51.7	40.8	46.5	43.0	48.7	47.1	35.8	33.3	24.2	28.2	31.2	22.2	49.7	56.4	51.1	38.1	38.7	37.6	62.0
Other Short-Term & Long-Term Liabilities - Total	44.5	174.3	29.2	32.3	76.3	104.3	160.4	215.0	258.4	302.0	327.4	609.1	364.8	460.9	464.6	547.2	62.7	41.8	30.1	63.8
Total Current Assets excluding Total Inventories	4,214.7	4,082.9	4,153.6	4,003.4	3,896.9	3,624.2	3,517.0	3,248.8	3,348.2	3,112.8	2,976.8	2,874.3	2,741.3	2,359.2	2,635.9	2,419.8	2,566.3	2,510.1	2,452.9	2,215.0
Tangible Book Value excluding Other Equity	4,097.8	3,527.0	3,459.4	3,477.1	3,413.6	3,313.2	3,256.9	3,271.2	3,175.3	3,112.0	3,062.3	2,973.7	2,925.7	2,136.7	2,067.8	2,075.7	2,083.0	2,348.8	2,331.3	2,322.9
Total Debt Excluding Islamic	2,141.5	1,649.1	1,616.0	1,519.9	1,581.3	1,045.5	988.2	984.1	986.1	1,180.2	725.9	546.2	747.6	865.2	1,237.1	1,240.1	1,624.9	1,766.5	1,461.2	1,122.0
Trade Accounts & Trade Notes Receivable - Net - Total	2,827.3	3,013.4	3,084.5	2,838.2	2,785.5	2,755.1	2,733.2	2,605.3	2,603.0	2,338.3	2,173.2	1,960.4	1,917.8	1,591.3	1,939.0	1,727.2	1,701.1	1,677.5	1,612.4	1,454.3
Current Liabilities excluding Current Debt - Total	2,549.1	2,578.9	2,624.6	2,285.8	2,349.1	2,852.8	2,567.8	2,352.4	2,203.5	1,923.2	2,487.6	2,510.3	2,074.0	1,627.0	1,568.4	1,773.7	1,827.3	1,712.7	2,210.4	1,771.7
Cash in Hand & with Banks - Total	423.1	267.5	318.7	436.1	296.7	78.0	141.3	101.9	67.0	53.6	88.8	77.8	47.8	46.5	94.5	40.6	224.3	31.0	39.3	27.6
Current Assets excluding Cash & Short Term Investments - Total	5,672.6	5,350.5	5,199.8	4,834.4	5,085.6	5,279.9	4,853.6	4,768.1	4,588.1	4,471.4	4,539.3	4,252.3	3,970.6	3,569.9	3,757.3	4,031.8	3,852.9	4,097.2	4,240.6	3,403.4
Cash, Short Term Investments & Accounts Receivable - Total	3,377.7	3,401.9	3,524.2	3,375.3	3,173.1	2,924.2	2,965.5	2,798.3	2,790.9	2,482.9	2,383.0	2,241.7	2,156.6	1,828.8	2,224.6	1,958.8	2,065.4	1,738.5	1,681.7	1,511.9

Every line the company reported, in the original order and wording, without regrouping or signs changed.