Fauji Fertilizer Bin

Monthly Return
Period Opening Rate Closing Rate Stock Return % KSE 100 Opening Rate Closing Rate Market Return %
Jan-04 17.6 20.7 17.61 4472 4841 8.25
Feb-04 20.7 19.95 -3.62 4841 4840 -0.02
Mar-04 19.95 21.5 7.77 4840 5107 5.52
Apr-04 21.5 21.5 0.00 5107 5430 6.32
May-04 21.5 19.9 -7.44 5430 5498 1.25
Jun-04 19.9 18.9 -5.03 5498 5279 -3.98
Jul-04 18.9 21.2 12.17 5279 5290 0.21
Aug-04 21.2 22 3.77 5290 5346 1.06
Sep-04 22 19.8 -10.00 5346 5218 -2.39
Oct-04 19.8 20.65 4.29 5218 5332 2.18
Nov-04 20.65 24.5 18.64 5332 5568 4.43
Dec-04 24.5 30.6 24.90 5568 6218 11.67
Jan-05 30.6 28.25 -7.68 6218 6747 8.51
Feb-05 28.25 31.65 12.04 6747 8260 22.42
Mar-05 31.65 29.8 -5.85 8260 7770 -5.93
Apr-05 29.8 29.3 -1.68 7770 7105 -8.56
May-05 29.3 24.25 -17.24 7105 6858 -3.48
Jun-05 24.25 26.9 10.93 6858 7450 8.63
Jul-05 26.9 28.75 6.88 7450 7179 -3.64
Aug-05 28.75 34.85 21.22 7179 7797 8.61
Sep-05 34.85 36.9 5.88 7797 8226 5.50
Oct-05 36.9 36 -2.44 8226 8247 0.26
Nov-05 36 37 2.78 8247 9026 9.45
Dec-05 37 38.15 3.11 9026 9557 5.88
Jan-06 38.15 41.65 9.17 9557 10524 10.12
Feb-06 41.65 39.7 -4.68 10524 11456 8.86
Mar-06 39.7 42.55 7.18 11456 11486 0.26
Apr-06 42.55 36.15 -15.04 11486 11342 -1.25
May-06 36.15 32.1 -11.20 11342 9801 -13.59
Jun-06 32.1 29.25 -8.88 9801 9989 1.92
Jul-06 29.25 28.5 -2.56 9989 10498 5.10
Aug-06 28.5 26.6 -6.67 10498 10064 -4.13
Sep-06 26.6 27.9 4.89 10064 10306 2.40
Oct-06 27.9 28.95 3.76 10306 11328 9.92
Nov-06 28.95 28.6 -1.21 11328 10619 -6.26
Dec-06 28.6 28.5 -0.35 10619 10040 -5.45
Jan-07 28.5 31.15 9.30 10040 11272 12.27
Feb-07 31.15 30.95 -0.64 11272 11180 -0.82
Mar-07 30.95 31.85 2.91 11180 11271 0.81
Apr-07 31.85 35.3 10.83 11271 12369 9.74
May-07 35.3 36.55 3.54 12369 12961 4.79
Jun-07 36.55 39 6.70 12961 13772 6.26
Jul-07 39 45.3 16.15 13772 13739 -0.24
Aug-07 45.3 40.1 -11.48 13739 12214 -11.10
Sep-07 40.1 44.3 10.47 12214 13353 9.33
Oct-07 44.3 46.25 4.40 13353 14321 7.25
Nov-07 46.25 46 -0.54 14321 13998 -2.26
Dec-07 46 42.05 -8.59 13998 14077 0.56
Jan-08 42.05 43.35 3.09 14077 14016 -0.43
Feb-08 43.35 45.4 4.73 14016 14934 6.55
 Mar-08 45.4 45.35 -0.11 14934 15125 1.28
Apr-08 45.35 38.7 -14.66 15125 15122 -0.02
May-08 38.7 33.9 -12.40 15122 12235 -19.09
Jun-08 33.9 35.97 6.11 12235 12289 0.44
Jul-08 35.97 27.2 -24.38 12289 10583 -13.88
Aug-08 27.2 22.78 -16.25 10583 9208 -12.99
Sep-08 22.78 22.78 0.00 9208 9179 -0.31
Oct-08 22.78 22.78 0.00 9179 9182 0.03
Nov-08 22.78 22.78 0.00 9182 9187 0.05
Dec-08 22.78 12.9 -43.37 9187 5885 -35.94
Jan-09 12.9 15.93 23.49 5885 5367 -8.80
Feb-09 15.93 18.02 13.12 5367 5727 6.71
Mar-09 18.02 17.12 -4.99 5727 6860 19.78
Apr-09 17.12 18.33 7.07 6860 7196 4.90
May-09 18.33 17.48 -4.64 7196 7276 1.11
Jun-09 17.48 17.69 1.20 7276 7169 -1.47
Jul-09 17.69 18.35 3.73 7169 7726 7.77
Aug-09 18.35 20.85 13.62 7726 8675 12.28
Sep-09 20.85 22.97 10.17 8675 9349 7.77
Oct-09 22.97 24.66 7.36 9349 9151 -2.12
Nov-09 24.66 26 5.43 9151 9206 0.60
Dec-09 26 26.13 0.50 9206 9386 1.96

Quarterly Return
Period Opening Rate Closing Rate Stock Return % KSE 100 Opening Rate Closing Rate Market Return %
Jan 04 - Mar 04 17.6 21.5 22.16 4472 5107 14.20
April 04-Jun 04 21.5 18.9 -12.09 5107 5279 3.37
Jul 04- Sep 04 18.9 19.8 4.76 5279 5218 -1.16
Oct 04- Dec 04 19.8 30.6 54.55 5218 6218 19.16
Jan 05 - Mar 05 30.6 29.8 -2.61 6218 7770 24.96
April 05-Jun 05 29.8 26.9 -9.73 7770 7450 -4.12
Jul 05- Sep 05 26.9 36.9 37.17 7450 8226 10.42
Oct 05- Dec 05 36.9 38.15 3.39 8226 9557 16.18
Jan 06 - Mar 06 38.15 42.55 11.53 9557 11486 20.18
April 06-Jun 06 42.55 29.25 -31.26 11486 9989 -13.03
Jul 06- Sep 06 29.25 27.9 -4.62 9989 10306 3.17
Oct 06- Dec 06 27.9 28.5 2.15 10306 10040 -2.58
Jan 07 - Mar 07 28.5 31.85 11.75 10040 11271 12.26
April 07-Jun 07 31.85 39 22.45 11271 13772 22.19
Jul 07- Sep 07 39 44.3 13.59 13772 13353 -3.04
Oct 07- Dec 07 44.3 42.05 -5.08 13353 14077 5.42
Jan 08 - Mar 08 42.05 45.35 7.85 14077 15125 7.44
April 08-Jun 08 45.35 35.97 -20.68 15125 12289 -18.75
Jul 08- Sep 08 35.97 22.78 -36.67 12289 9179 -25.31
Oct 08- Dec 08 22.78 12.9 -43.37 9179 5885 -35.89
Jan 09 - Mar 09 12.9 17.12 32.71 5885 6860 16.57
April 09-Jun 09 17.12 17.69 3.33 6860 7169 4.50
Jul 09- Sep 09 17.69 22.97 29.85 7169 9349 30.41
Oct 09- Dec 09 22.97 26.13 13.76 9349 9386 0.40
 Monthly Comparison Quaterly Comparison
Kibor Rate Period CAPM Return Actual Return Variance Period CAPM Return Actual Return
2.04 Jan-04 7.25 17.61 10.36 Jan 04 - Mar 04 16.06 22.16
1.04 Feb-04 0.15 -3.62 3.77 April 04-Jun 04 3.64 -12.09
1.23 Mar-04 4.83 7.77 2.94 Jul 04- Sep 04 -1.60 4.76
1.56 Apr-04 5.56 0.00 5.56 Oct 04- Dec 04 21.75 54.55
1.73 May-04 1.33 -7.44 8.77 Jan 05 - Mar 05 28.21 -2.61
3.79 Jun-04 -2.73 -5.03 2.29 April 05-Jun 05 -5.49 -9.73
1.74 Jul-04 0.45 12.17 11.71 Jul 05- Sep 05 10.87 37.17
1.88 Aug-04 1.19 3.77 2.58 Oct 05- Dec 05 17.45 3.39
2.00 Sep-04 -1.69 -10.00 8.31 Jan 06 - Mar 06 22.08 11.53
2.26 Oct-04 2.20 4.29 2.10 April 06-Jun 06 -16.30 -31.26
3.07 Nov-04 4.21 18.64 14.44 Jul 06- Sep 06 2.42 -4.62
4.69 Dec-04 10.55 24.90 14.35 Oct 06- Dec 06 -4.35 2.15
3.70 Jan-05 7.73 -7.68 15.41 Jan 07 - Mar 07 12.67 11.75
5.11 Feb-05 19.64 12.04 7.60 April 07-Jun 07 24.19 22.45
3.94 Mar-05 -4.34 -5.85 1.50 Jul 07- Sep 07 -4.87 13.59
4.85 Apr-05 -6.40 -1.68 4.72 Oct 07- Dec 07 4.85 -5.08
6.71 May-05 -1.84 -17.24 15.40 Jan 08 - Mar 08 7.13 7.85
6.36 Jun-05 8.27 10.93 2.66 April 08-Jun 08 -23.06 -20.68
7.42 Jul-05 -1.86 6.88 8.73 Jul 08- Sep 08 -31.08 -36.67
8.05 Aug-05 8.52 21.22 12.70 Oct 08- Dec 08 -43.53 -43.37
7.80 Sep-05 5.87 5.88 0.01 Jan 09 - Mar 09 16.98 32.71
7.88 Oct-05 1.48 -2.44 3.92 April 09-Jun 09 3.27 3.33
8.38 Nov-05 9.27 2.78 6.50 Jul 09- Sep 09 33.21 29.85
8.40 Dec-05 6.29 3.11 3.18 Oct 09- Dec 09 -1.42 13.76
7.80 Jan-06 9.75 9.17 0.57
8.19 Feb-06 8.75 -4.68 13.43
8.11 Mar-06 1.53 7.18 5.65
8.35 Apr-06 0.29 -15.04 15.33
8.81 May-06 -9.98 -11.20 1.22
8.54 Jun-06 2.98 -8.88 11.86
8.12 Jul-06 5.58 -2.56 8.15
9.56 Aug-06 -1.93 -6.67 4.74
9.18 Sep-06 3.50 4.89 1.39
8.98 Oct-06 9.77 3.76 6.00
9.16 Nov-06 -3.78 -1.21 2.57
9.04 Dec-06 -3.12 -0.35 2.77
9.62 Jan-07 11.84 9.30 2.55
9.33 Feb-07 0.82 -0.64 1.46
9.19 Mar-07 2.16 2.91 0.75
9.12 Apr-07 9.64 10.83 1.19
8.94 May-07 5.45 3.54 1.91
8.73 Jun-07 6.66 6.70 0.05
8.89 Jul-07 1.23 16.15 14.92
9.26 Aug-07 -7.82 -11.48 3.66
9.05 Sep-07 9.28 10.47 1.19
9.14 Oct-07 7.55 4.40 3.15
9.11 Nov-07 -0.43 -0.54 0.11
9.05 Dec-07 1.93 -8.59 10.52
9.48 Jan-08 1.16 3.09 1.93
9.42 Feb-08 7.01 4.73 2.28
 9.42 Mar-08 2.59 -0.11 2.70
9.43 Apr-08 1.50 -14.66 16.17
9.44 May-08 -14.50 -12.40 2.09
12.06 Jun-08 2.31 6.11 3.79
12.43 Jul-08 -9.65 -24.38 14.74
12.03 Aug-08 -8.96 -16.25 7.29
12.88 Sep-08 1.81 0.00 1.81
14.10 Oct-08 2.30 0.00 2.30
13.74 Nov-08 2.26 0.00 2.26
13.76 Dec-08 -27.94 -43.37 15.43
13.87 Jan-09 -5.15 23.49 28.64
12.28 Feb-09 7.60 13.12 5.52
10.64 Mar-09 18.31 -4.99 23.31
12.54 Apr-09 6.13 7.07 0.94
12.91 May-09 3.01 -4.64 7.65
13.11 Jun-09 0.88 1.20 0.32
12.09 Jul-09 8.47 3.73 4.73
11.79 Aug-09 12.20 13.62 1.42
12.17 Sep-09 8.48 10.17 1.69
12.29 Oct-09 0.20 7.36 7.16
12.29 Nov-09 2.48 5.43 2.95
11.89 Dec-09 3.55 0.50 3.05

Monthly
Kibor Rate Beta 0.839
2.04 Average Variance 6.18
1.56
1.74 Quaterly
2.26 Beta 1.153
3.70 Average Variance 10.40
4.85
7.42
7.88
7.80
8.35
8.12
8.98
9.62
9.12
8.89
9.14
9.48
9.43
12.43
14.10
13.87
12.54
12.09
12.29
Variance
6.10
15.74
6.36
32.79
30.83
4.24
26.30
14.06
10.55
14.95
7.03
6.50
0.91
1.74
18.46
9.93
0.71
2.38
5.59
0.16
15.73
0.05
3.36
15.18
 Fauji Fertilizer Co.
Monthly Return
Period Opening Rate Closing Rate Stock Return % KSE 100 Opening Rate Closing Rate
Jan-04 95.5 106.75 11.78 4472 4841
Feb-04 106.75 108.75 1.87 4841 4840
Mar-04 108.75 111.25 2.30 4840 5107
Apr-04 111.25 127.2 14.34 5107 5430
May-04 127.2 127.5 0.24 5430 5498
Jun-04 127.5 118.85 -6.78 5498 5279
Jul-04 118.85 132.75 11.70 5279 5290
Aug-04 132.75 109.05 -17.85 5290 5346
Sep-04 109.05 105.75 -3.03 5346 5218
Oct-04 105.75 115.7 9.41 5218 5332
Nov-04 115.7 123.5 6.74 5332 5568
Dec-04 123.5 139.45 12.91 5568 6218
Jan-05 139.45 151.2 8.43 6218 6747
Feb-05 151.2 154.4 2.12 6747 8260
Mar-05 154.4 142 -8.03 8260 7770
Apr-05 142 145 2.11 7770 7105
May-05 145 139 -4.14 7105 6858
Jun-05 139 121.35 -12.70 6858 7450
Jul-05 121.35 133.95 10.38 7450 7179
Aug-05 133.95 137.1 2.35 7179 7797
Sep-05 137.1 130.25 -5.00 7797 8226
Oct-05 130.25 130.5 0.19 8226 8247
Nov-05 130.5 148.75 13.98 8247 9026
Dec-05 148.75 137 -7.90 9026 9557
Jan-06 137 136.75 -0.18 9557 10524
Feb-06 136.75 126.8 -7.28 10524 11456
Mar-06 126.8 134.65 6.19 11456 11486
Apr-06 134.65 129.9 -3.53 11486 11342
May-06 129.9 123.6 -4.85 11342 9801
Jun-06 123.6 121 -2.10 9801 9989
Jul-06 121 117.5 -2.89 9989 10498
Aug-06 117.5 115 -2.13 10498 10064
Sep-06 115 117 1.74 10064 10306
Oct-06 117 116.9 -0.09 10306 11328
Nov-06 116.9 116.4 -0.43 11328 10619
Dec-06 116.4 105.55 -9.32 10619 10040
Jan-07 105.55 112.1 6.21 10040 11272
Feb-07 112.1 108.55 -3.17 11272 11180
Mar-07 108.55 105.55 -2.76 11180 11271
Apr-07 105.55 115.3 9.24 11271 12369
May-07 115.3 118 2.34 12369 12961
Jun-07 118 121.25 2.75 12961 13772
 Jul-07 121.25 124 2.27 13772 13739
Aug-07 124 113.9 -8.15 13739 12214
Sep-07 113.9 115 0.97 12214 13353
Oct-07 115 124.65 8.39 13353 14321
Nov-07 124.65 123.2 -1.16 14321 13998
Dec-07 123.2 118.75 -3.61 13998 14077
Jan-08 118.75 125.5 5.68 14077 14016
Feb-08 125.5 136 8.37 14016 14934
Mar-08 136 140.5 3.31 14934 15125
Apr-08 140.5 141 0.36 15125 15122
May-08 141 128.95 -8.55 15122 12235
Jun-08 128.95 132.32 2.61 12235 12289
Jul-08 132.32 127.02 -4.01 12289 10583
Aug-08 127.02 103.99 -18.13 10583 9208
Sep-08 103.99 100 -3.84 9208 9179
Oct-08 100 100 0.00 9179 9182
Nov-08 100 100 0.00 9182 9187
Dec-08 100 58.73 -41.27 9187 5885
Jan-09 58.73 86.35 47.03 5885 5367
Feb-09 86.35 73.16 -15.28 5367 5727
Mar-09 73.16 86.92 18.81 5727 6860
Apr-09 86.92 97.82 12.54 6860 7196
May-09 97.82 102.62 4.91 7196 7276
Jun-09 102.62 86.95 -15.27 7276 7169
Jul-09 86.95 94.91 9.15 7169 7726
Aug-09 94.91 96.82 2.01 7726 8675
Sep-09 96.82 102.75 6.12 8675 9349
Oct-09 102.75 105.03 2.22 9349 9151
Nov-09 105.03 107.02 1.89 9151 9206
Dec-09 107.02 102.93 -3.82 9206 9386

Quarterly Return
Period Opening Rate Closing Rate Stock Return % KSE 100 Opening Rate Closing Rate
Jan 04 - Mar 04 95.5 111.25 16.49 4472 5107
April 04-Jun 04 111.25 118.85 6.83 5107 5279
Jul 04- Sep 04 118.85 105.75 -11.02 5279 5218
Oct 04- Dec 04 105.75 139.45 31.87 5218 6218
Jan 05 - Mar 05 139.45 142 1.83 6218 7770
April 05-Jun 05 142 121.35 -14.54 7770 7450
Jul 05- Sep 05 121.35 130.25 7.33 7450 8226
Oct 05- Dec 05 130.25 137 5.18 8226 9557
Jan 06 - Mar 06 137 134.65 -1.72 9557 11486
April 06-Jun 06 134.65 121 -10.14 11486 9989
Jul 06- Sep 06 121 117 -3.31 9989 10306
Oct 06- Dec 06 117 105.55 -9.79 10306 10040
Jan 07 - Mar 07 105.55 105.55 0.00 10040 11271
April 07-Jun 07 105.55 121.25 14.87 11271 13772
Jul 07- Sep 07 121.25 115 -5.15 13772 13353
Oct 07- Dec 07 115 118.75 3.26 13353 14077
Jan 08 - Mar 08 118.75 140.5 18.32 14077 15125
April 08-Jun 08 140.5 132.32 -5.82 15125 12289
Jul 08- Sep 08 132.32 100 -24.43 12289 9179
Oct 08- Dec 08 100 58.73 -41.27 9179 5885
Jan 09 - Mar 09 58.73 86.92 48.00 5885 6860
April 09-Jun 09 86.92 86.95 0.03 6860 7169
Jul 09- Sep 09 86.95 102.75 18.17 7169 9349
Oct 09- Dec 09 102.75 102.93 0.18 9349 9386
Market Return % Kibor Rate Period CAPM Return Actual Return
8.25 2.04 Jan-04 5.51 11.78
-0.02 1.04 Feb-04 0.45 1.87
5.52 1.23 Mar-04 3.63 2.30
6.32 1.56 Apr-04 4.22 14.34
1.25 1.73 May-04 1.46 0.24
-3.98 3.79 Jun-04 -0.56 -6.78
0.21 1.74 Jul-04 0.88 11.70
1.06 1.88 Aug-04 1.42 -17.85
-2.39 2.00 Sep-04 -0.46 -3.03
2.18 2.26 Oct-04 2.22 9.41
4.43 3.07 Nov-04 3.83 6.74
11.67 4.69 Dec-04 8.59 12.91
8.51 3.70 Jan-05 6.39 8.43
22.42 5.11 Feb-05 14.79 2.12
-5.93 3.94 Mar-05 -1.58 -8.03
-8.56 4.85 Apr-05 -2.65 2.11
-3.48 6.71 May-05 1.02 -4.14
8.63 6.36 Jun-05 7.63 -12.70
-3.64 7.42 Jul-05 1.24 10.38
8.61 8.05 Aug-05 8.36 2.35
5.50 7.80 Sep-05 6.52 -5.00
0.26 7.88 Oct-05 3.62 0.19
9.45 8.38 Nov-05 8.98 13.98
5.88 8.40 Dec-05 6.99 -7.90
10.12 7.80 Jan-06 9.10 -0.18
8.86 8.19 Feb-06 8.56 -7.28
0.26 8.11 Mar-06 3.72 6.19
-1.25 8.35 Apr-06 2.98 -3.53
-13.59 8.81 May-06 -3.71 -4.85
1.92 8.54 Jun-06 4.84 -2.10
5.10 8.12 Jul-06 6.43 -2.89
-4.13 9.56 Aug-06 1.90 -2.13
2.40 9.18 Sep-06 5.39 1.74
9.92 8.98 Oct-06 9.50 -0.09
-6.26 9.16 Nov-06 0.54 -0.43
-5.45 9.04 Dec-06 0.94 -9.32
12.27 9.62 Jan-07 11.10 6.21
-0.82 9.33 Feb-07 3.66 -3.17
0.81 9.19 Mar-07 4.51 -2.76
9.74 9.12 Apr-07 9.47 9.24
4.79 8.94 May-07 6.62 2.34
6.26 8.73 Jun-07 7.35 2.75
 -0.24 8.89 Jul-07 3.79 2.27
-11.10 9.26 Aug-07 -2.12 -8.15
9.33 9.05 Sep-07 9.20 0.97
7.25 9.14 Oct-07 8.08 8.39
-2.26 9.11 Nov-07 2.76 -1.16
0.56 9.05 Dec-07 4.31 -3.61
-0.43 9.48 Jan-08 3.94 5.68
6.55 9.42 Feb-08 7.82 8.37
1.28 9.42 Mar-08 4.87 3.31
-0.02 9.43 Apr-08 4.15 0.36
-19.09 9.44 May-08 -6.51 -8.55
0.44 12.06 Jun-08 5.57 2.61
-13.88 12.43 Jul-08 -2.28 -4.01
-12.99 12.03 Aug-08 -1.96 -18.13
-0.31 12.88 Sep-08 5.50 -3.84
0.03 14.10 Oct-08 6.24 0.00
0.05 13.74 Nov-08 6.09 0.00
-35.94 13.76 Dec-08 -14.02 -41.27
-8.80 13.87 Jan-09 1.20 47.03
6.71 12.28 Feb-09 9.17 -15.28
19.78 10.64 Mar-09 15.75 18.81
4.90 12.54 Apr-09 8.27 12.54
1.11 12.91 May-09 6.31 4.91
-1.47 13.11 Jun-09 4.96 -15.27
7.77 12.09 Jul-09 9.67 9.15
12.28 11.79 Aug-09 12.07 2.01
7.77 12.17 Sep-09 9.71 6.12
-2.12 12.29 Oct-09 4.24 2.22
0.60 12.29 Nov-09 5.76 1.89
1.96 11.89 Dec-09 6.34 -3.82

Market Return % Kibor Rate Period CAPM Return Actual Return

14.20 2.04 Jan 04 - Mar 04 12.50 16.49
3.37 1.56 April 04-Jun 04 3.11 6.83
-1.16 1.74 Jul 04- Sep 04 -0.75 -11.02
19.16 2.26 Oct 04- Dec 04 16.80 31.87
24.96 3.70 Jan 05 - Mar 05 21.98 1.83
-4.12 4.85 April 05-Jun 05 -2.86 -14.54
10.42 7.42 Jul 05- Sep 05 10.00 7.33
16.18 7.88 Oct 05- Dec 05 15.02 5.18
20.18 7.80 Jan 06 - Mar 06 18.45 -1.72
-13.03 8.35 April 06-Jun 06 -10.04 -10.14
3.17 8.12 Jul 06- Sep 06 3.87 -3.31
 -2.58 8.98 Oct 06- Dec 06 -0.96 -9.79
12.26 9.62 Jan 07 - Mar 07 11.89 0.00
22.19 9.12 April 07-Jun 07 20.36 14.87
-3.04 8.89 Jul 07- Sep 07 -1.37 -5.15
5.42 9.14 Oct 07- Dec 07 5.94 3.26
7.44 9.48 Jan 08 - Mar 08 7.73 18.32
-18.75 9.43 April 08-Jun 08 -14.81 -5.82
-25.31 12.43 Jul 08- Sep 08 -20.02 -24.43
-35.89 14.10 Oct 08- Dec 08 -28.89 -41.27
16.57 13.87 Jan 09 - Mar 09 16.19 48.00
4.50 12.54 April 09-Jun 09 5.63 0.03
30.41 12.09 Jul 09- Sep 09 27.84 18.17
0.40 12.29 Oct 09- Dec 09 2.06 0.18

Monthly
Beta 0.559
Average Variance 7.22

Quaterly
Beta 0.860
Average Variance 9.28
Variance
6.27
1.43
1.33
10.11
1.23
6.23
10.81
19.27
2.57
7.19
2.91
4.32
2.04
12.67
6.45
4.76
5.15
20.33
9.14
6.01
11.51
3.43
5.01
14.89
9.28
15.84
2.47
6.51
1.14
6.94
9.32
4.03
3.65
9.59
0.97
10.26
4.90
6.83
7.27
0.23
4.28
4.59
 1.52
6.02
8.24
0.31
3.92
7.92
1.75
0.55
1.56
3.79
2.04
2.95
1.73
16.17
9.34
6.24
6.09
27.25
45.83
24.44
3.06
4.27
1.41
20.23
0.52
10.05
3.59
2.02
3.86
10.16

Variance
4.00
3.72
10.27
15.07
20.15
11.68
2.66
9.84
20.17
0.10
7.17
 8.82
11.89
5.49
3.78
2.68
10.59
8.98
4.40
12.38
31.81
5.59
9.67
1.89
 Fazal Textile
Monthly Return
Period Opening Rate Closing Rate Stock Return % KSE 100 Opening Rate Closing Rate Market Return %
Jan-04 103.1 109 5.72 4472 4841 8.25
Feb-04 107.1 106 -1.03 4841 4840 -0.02
Mar-04 106 113.7 7.26 4840 5107 5.52
Apr-04 99.75 105 5.26 5107 5430 6.32
May-04 101 95.95 -5.00 5430 5498 1.25
Jun-04 99.1 99 -0.10 5498 5279 -3.98
Jul-04 90.3 93.1 3.10 5279 5290 0.21
Aug-04 89 89.9 1.01 5290 5346 1.06
Sep-04 102.65 102 -0.63 5346 5218 -2.39
Oct-04 100 99.75 -0.25 5218 5332 2.18
Nov-04 97 95 -2.06 5332 5568 4.43
Dec-04 89 90 1.12 5568 6218 11.67
Jan-05 88.5 88.5 0.00 6218 6747 8.51
Feb-05 106.25 106 -0.24 6747 8260 22.42
Mar-05 100.5 95.5 -4.98 8260 7770 -5.93
Apr-05 91 93 2.20 7770 7105 -8.56
May-05 90 92 2.22 7105 6858 -3.48
Jun-05 82 80.75 -1.52 6858 7450 8.63
Jul-05 81 79 -2.47 7450 7179 -3.64
Aug-05 88 87.75 -0.28 7179 7797 8.61
Sep-05 82.65 82 -0.79 7797 8226 5.50
Oct-05 76 79.8 5.00 8226 8247 0.26
Nov-05 76 79 3.95 8247 9026 9.45
Dec-05 122.55 126.95 3.59 9026 9557 5.88
Jan-06 125 127.9 2.32 9557 10524 10.12
Feb-06 190.95 190.95 0.00 10524 11456 8.86
Mar-06 143.85 143.85 0.00 11456 11486 0.26
Apr-06 151 156 3.31 11486 11342 -1.25
May-06 145 137.75 -5.00 11342 9801 -13.59
Jun-06 134 143.9 7.39 9801 9989 1.92
Jul-06 135 135 0.00 9989 10498 5.10
Aug-06 128.25 128.25 0.00 10498 10064 -4.13
Sep-06 137 140 2.19 10064 10064 0.00
Oct-06 140 140 0.00 10064 11328 12.56
Nov-06 140 140 0.00 11328 10619 -6.26
Dec-06 96.9 107.1 10.53 10619 10040 -5.45
Jan-07 84.9 84.9 0.00 10040 11272 12.27
Feb-07 86.5 86.5 0.00 11272 11180 -0.82
Mar-07 111.25 111.3 0.04 11180 11271 0.81
Apr-07 115.05 119 3.43 11271 12369 9.74
May-07 144 157.5 9.38 12369 12961 4.79
Jun-07 238 250 5.04 12961 13772 6.26
Jul-07 285 285 0.00 13772 13739 -0.24
Aug-07 301 315 4.65 13739 12214 -11.10
Sep-07 345 345 0.00 12214 13353 9.33
Oct-07 364 364 0.00 13353 14321 7.25
Nov-07 388 405 4.38 14321 13998 -2.26
 Dec-07 400 400 0.00 13998 14077 0.56
Jan-08 398 417 4.77 14077 14016 -0.43
Feb-08 405 408 0.74 14016 14934 6.55
Mar-08 396 416.9 5.28 14934 15125 1.28
Apr-08 513.95 513.95 0.00 15125 15122 -0.02
May-08 574 589.99 2.79 15122 12235 -19.09
Jun-08 673.55 710 5.41 12235 12289 0.44
Jul-08 710 710 0.00 12289 10583 -13.88
Aug-08 710 710 0.00 10583 9208 -12.99
Sep-08 778.14 778.14 0.00 9208 9179 -0.31
Oct-08 778.14 778.14 0.00 9179 9182 0.03
Nov-08 778.14 778.14 0.00 9182 9187 0.05
Dec-08 778.14 778.14 0.00 9187 5885 -35.94
Jan-09 778.14 778.14 0.00 5885 5367 -8.80
Feb-09 778.14 778.14 0.00 5367 5727 6.71
Mar-09 398.73 439.99 10.35 5727 6860 19.78
Apr-09 445.27 445.27 0.00 6860 7196 4.90
May-09 402 402 0.00 7196 7276 1.11
Jun-09 375.25 391 4.20 7276 7169 -1.47
Jul-09 365 365 0.00 7169 7726 7.77
Aug-09 368 360 -2.17 7726 8675 12.28
Sep-09 407.78 430 5.45 8675 9349 7.77
Oct-09 484 488 0.83 9349 9151 -2.12
Nov-09 492 465 -5.49 9151 9206 0.60
Dec-09 398 398 0.00 9206 9386 1.96

Quarterly Return
Period Opening Rate Closing Rate Stock Return % KSE 100 Opening Rate Closing Rate Market Return %
Jan 04 - Mar 04 103.1 99.75 -3.25 4472 5107 14.20
April 04-Jun 04 99.75 90.3 -9.47 5107 5279 3.37
Jul 04- Sep 04 90.3 100 10.74 5279 5218 -1.16
Oct 04- Dec 04 100 88.5 -11.50 5218 6218 19.16
Jan 05 - Mar 05 88.5 91 2.82 6218 7770 24.96
April 05-Jun 05 91 81 -10.99 7770 7450 -4.12
Jul 05- Sep 05 81 76 -6.17 7450 8226 10.42
Oct 05- Dec 05 76 125 64.47 8226 9557 16.18
Jan 06 - Mar 06 125 151 20.80 9557 11486 20.18
April 06-Jun 06 151 135 -10.60 11486 9989 -13.03
Jul 06- Sep 06 135 130 -3.70 9989 9989 0.00
Oct 06- Dec 06 130 84.9 -34.69 9989 10040 0.51
Jan 07 - Mar 07 84.9 115.05 35.51 10040 11271 12.26
April 07-Jun 07 115.05 285 147.72 11271 13772 22.19
Jul 07- Sep 07 285 364 27.72 13772 13353 -3.04
Oct 07- Dec 07 364 398 9.34 13353 14077 5.42
Jan 08 - Mar 08 398 513.95 29.13 14077 15125 7.44
April 08-Jun 08 513.95 778.14 51.40 15125 12289 -18.75
Jul 08- Sep 08 778.14 778.14 0.00 12289 9179 -25.31
Oct 08- Dec 08 778.14 778.14 0.00 9179 5885 -35.89
Jan 09 - Mar 09 778.14 445.27 -42.78 5885 6860 16.57
April 09-Jun 09 445.27 365 -18.03 6860 7169 4.50
Jul 09- Sep 09 365 484 32.60 7169 9349 30.41
Oct 09- Dec 09 484 414.14 -14.43 9349 9386 0.40
Kibor Rate Period CAPM Return Actual Return Variance Period CAPM Return
2.04 Jan-04 2.38 5.72 3.35 Jan 04 - Mar 04 8.74
1.04 Feb-04 0.98 -1.03 2.01 April 04-Jun 04 2.56
1.23 Mar-04 1.46 7.26 5.80 Jul 04- Sep 04 0.14
1.56 Apr-04 1.82 5.26 3.45 Oct 04- Dec 04 11.57
1.73 May-04 1.70 -5.00 6.70 Jan 05 - Mar 05 15.41
3.79 Jun-04 3.37 -0.10 3.47 April 05-Jun 05 -0.09
1.74 Jul-04 1.66 3.10 1.44 Jul 05- Sep 05 9.07
1.88 Aug-04 1.84 1.01 0.82 Oct 05- Dec 05 12.45
2.00 Sep-04 1.76 -0.63 2.40 Jan 06 - Mar 06 14.62
2.26 Oct-04 2.26 -0.25 2.51 April 06-Jun 06 -3.43
3.07 Nov-04 3.14 -2.06 5.21 Jul 06- Sep 06 3.65
4.69 Dec-04 5.07 1.12 3.94 Oct 06- Dec 06 4.31
3.70 Jan-05 3.96 0.00 3.96 Jan 07 - Mar 07 11.08
5.11 Feb-05 6.04 -0.24 6.28 April 07-Jun 07 16.32
3.94 Mar-05 3.41 -4.98 8.38 Jul 07- Sep 07 2.32
4.85 Apr-05 4.13 2.20 1.93 Oct 07- Dec 07 7.09
6.71 May-05 6.16 2.22 3.94 Jan 08 - Mar 08 8.36
6.36 Jun-05 6.48 -1.52 8.01 April 08-Jun 08 -6.10
7.42 Jul-05 6.82 -2.47 9.29 Jul 08- Sep 08 -8.36
8.05 Aug-05 8.08 -0.28 8.36 Oct 08- Dec 08 -13.44
7.80 Sep-05 7.68 -0.79 8.46 Jan 09 - Mar 09 15.36
7.88 Oct-05 7.47 5.00 2.47 April 09-Jun 09 8.11
8.38 Nov-05 8.44 3.95 4.49 Jul 09- Sep 09 22.18
8.40 Dec-05 8.26 3.59 4.67 Oct 09- Dec 09 5.74
7.80 Jan-06 7.93 2.32 5.61
8.19 Feb-06 8.23 0.00 8.23
8.11 Mar-06 7.69 0.00 7.69
8.35 Apr-06 7.83 3.31 4.52
8.81 May-06 7.60 -5.00 12.60
8.54 Jun-06 8.18 7.39 0.79
8.12 Jul-06 7.96 0.00 7.96
9.56 Aug-06 8.82 0.00 8.82
9.18 Sep-06 8.68 2.19 6.49
8.98 Oct-06 9.17 0.00 9.17
9.16 Nov-06 8.33 0.00 8.33
9.04 Dec-06 8.26 10.53 2.27
9.62 Jan-07 9.76 0.00 9.76
9.33 Feb-07 8.78 0.00 8.78
9.19 Mar-07 8.74 0.04 8.69
9.12 Apr-07 9.15 3.43 5.72
8.94 May-07 8.72 9.38 0.66
8.73 Jun-07 8.60 5.04 3.55
8.89 Jul-07 8.40 0.00 8.40
9.26 Aug-07 8.16 4.65 3.51
9.05 Sep-07 9.06 0.00 9.06
9.14 Oct-07 9.04 0.00 9.04
9.11 Nov-07 8.50 4.38 4.11
 9.05 Dec-07 8.59 0.00 8.59
9.48 Jan-08 8.94 4.77 4.17
9.42 Feb-08 9.27 0.74 8.52
9.42 Mar-08 8.98 5.28 3.70
9.43 Apr-08 8.92 0.00 8.92
9.44 May-08 7.90 2.79 5.11
12.06 Jun-08 11.43 5.41 6.02
12.43 Jul-08 11.01 0.00 11.01
12.03 Aug-08 10.68 0.00 10.68
12.88 Sep-08 12.17 0.00 12.17
14.10 Oct-08 13.34 0.00 13.34
13.74 Nov-08 13.00 0.00 13.00
13.76 Dec-08 11.08 0.00 11.08
13.87 Jan-09 12.65 0.00 12.65
12.28 Feb-09 11.98 0.00 11.98
10.64 Mar-09 11.13 10.35 0.79
12.54 Apr-09 12.13 0.00 12.13
12.91 May-09 12.27 0.00 12.27
13.11 Jun-09 12.32 4.20 8.13
12.09 Jul-09 11.86 0.00 11.86
11.79 Aug-09 11.82 -2.17 13.99
12.17 Sep-09 11.93 5.45 6.48
12.29 Oct-09 11.51 0.83 10.69
12.29 Nov-09 11.66 -5.49 17.15
11.89 Dec-09 11.35 0.00 11.35

Kibor Rate
2.04
1.56 Monthly
1.74 Beta 0.054
2.26 Average Variance 7.10
3.70
4.85 Quaterly
7.42 Beta 0.551
7.88 Average Variance 25.27
7.80
8.35
8.12
8.98
9.62
9.12
8.89
9.14
9.48
9.43
12.43
14.10
13.87
12.54
12.09
12.29
Actual Return Variance
-3.25 11.99
-9.47 12.03
10.74 10.60
-11.50 23.07
2.82 12.59
-10.99 10.90
-6.17 15.24
64.47 52.02
20.80 6.18
-10.60 7.16
-3.70 7.35
-34.69 39.01
35.51 24.44
147.72 131.40
27.72 25.40
9.34 2.25
29.13 20.77
51.40 57.50
0.00 8.36
0.00 13.44
-42.78 58.13
-18.03 26.14
32.60 10.42
-14.43 20.17