FOODS
ALSHAHEER
TlJc Gcncral Manager.
Pak istalJ Stcck Exchange L imitecl. Stcck Exchange building.
St‹›ck ExtlJ‹ii1_c ft‹›ad.
SUBJECT: FINANCIA R RESU LTS FOR THE PERIOD ENDED MARCH 31" 2024
Dettr Sir
W'<• ix ould like to in too ir the Pakistan Stock Exchange that the Board of Directors of Al Shaheer Corporation Limited (Hoc C'ona pan y) in their iueel ink held on Friday, August 29, 2025 at 1.1 :30 AM at Company's registered office located floor. Mansoor 'Power, Btock-8. Shahrah-e-Rooini. Clifton, Karachi, recommended the
fo
Cash Dividend Bcnus Shares ItiglJt SlJai"cs
N1L NIL
Tlic financial results of the Company as approved by the Board of Director of the Company are appended to ihis letter.
.4l Sh: heer Corpora tion Lim ited
Mtibashhai Asit' Coin pany Secretary
Al Shaheer Corporatin Limited
Suite # G/5/5, 3rd Floor, Mansoor Tower, Block 8, Shahrah-e-Roomi. Clifton, Karachi.
Oftice: +92-21-38781100
Fax: +92-21-35877017
Web: https://www.ascfoods.com
AL SHAHEER CORPORATION LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITIONAS AT MARCH 31, 2024
ASSETS
NON-cunwNT ASSETS
March 2024 June 2023 June 2022 (Un Audited) (Restated) (Restated)
--------------- Rupees in '000' ---------------
Pluperty, }alant and ccluipmcnt | 4,055,947 | 4,442,104 | 4,703,479 | ||
hit:ingible :issets | 35,305 | 47,073 | |||
I..ong-term investment | 14,940 | ||||
Long-term loan | 2,89 | 6,439 | |||
Deferrccl tax asset 3.55,625 | |||||
4,059,947 | 4,480,228 | 5,107,556 | |||
CURRENT ASSETS | |||||
Stocl‹-in-trade | - | 262,572 | 289,0fi1 | ||
*1"ia‹le ctcbts | 74,551 | 3,044,879 | 3,094,203 | ||
J.rates :tild :ic1vances | 1,555 | 202,577 | 340,400 | ||
"Grade cleposits a "* l°"•ra'ments | 192 | 1.3,300 | 1.3,907 | ||
C3tlaer receivables | 324,567 | 332,227 | 364,590 | ||
T:ix:ition - net | 83,846 | t00,840 | 134,947 | ||
Cash aiicl b:ink b:Glances | 6,204 | 66,266 | 8,286 | ||
490,915 | 4,022.661 4,245,394 | ||||
TOTAL ASSETS | 4,550,864 | 8,502,889 | 5,352,950 | ||
EQUI Y AND LIABILITIES | |||||
SH • CAPITAL AND RESERVES | |||||
A uthonsed capital | 4,000,000 | 4,000,000 | 5,000,000 | ||
4(10,000,000 (2023: 400,£l00,000) orclinary shares of Rs. 10 each Isstlecl, sul scrilaecl ancl |oaid-u|o capital
Share preiaiiurn
Accumulated dose) /unappropriated profit
NON-CURRENT LIABILITIES
Lc›ng-term finiuicin‹ I.ease li.ibilities Deterrent liability
3,749,23G 3,749,23G 2,99?,?›89
1,507,705 1,507,705 1,507,705
(4,121,105) (935,757) 817,665 1,135,83G 4,321,t84 5,404,97fi
184,333
118,93G
582@94 | 73J,G40 |
47@01 | 90,225 |
110,776 | 102,d50 |
CURREN r LIABILITIES
portion of long-term financing
€iurrent }oortit›ii u I deferred income - government grant
303,2G9
741,270
924,71C
UrrCf
l»°=tion of lease liabilities
341,G91 t,855,133 124,858
59,525
730,512
935,598 | 1,069,545 |
1,855,429 | 1,637,SC7 |
3,742 | 4,446 |
223,205 | i17,7S7 |
357,088 | 136,662 |
87tl | |
65,373 | 58,b7b |
CON INGEN IT NTS
Chief|Executive Officer Chief Financial Officer
AL SHAf-HER CORPORATION LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS
FOR THE NINE MONTHS PERIOD ENDED 31 MARCH 2024
Nine Months Period Ended Quarter Ended
March 31,2024 March 31,2023 March 31,2024 March .51,202.3
"turnover Cest ‹af bales
Gross (loss) / profit
/dnaini ti-.itive ancl tlistribution costs
(Unaudited) (Unaudited) (Unaudited) (Unaudited) Rupees in '000' Rupees in '000'
571,722 .$,365,670 186,403 2,006,057
(1,015,446) (4,730,531) (91,842) (1,783,683)
(443,724) 635,139 94,561 222,404
(622,370) (898,441) (78,435) (272,158)
tether incriiaie / (lix}aense) Net Operating (loss) / profit I'iniince cusr
(loss) / pror ‹ before taxation
.evies - miiJJmurn a net final tax
(2,032,256)
(3,098,349)
(80,492)
(3,178,841)
(6,507)
854,590
591,288
(9C0,992) 230,296
(19,953)
3
16,129(5)
15124
(2,323)555,415
505,661 (137,5C5) 368,0'96
(19,069)
Net (loss) / profit
(Loss)/earning per share - Basic/Dilluted
(3,185,348) 2J 0,.54.3 13,801
(Rupees) (Rupees)
(8.50) 0.66 0.04
Chief Financial Officer
349,027
1.10
M SI-IAHEElt CO RPO1MTI ON LIMITED
UNCONSOLIDATED CONDENSED INTEIIIM STATEMENT OF COMPREHENSIVE INCOME IOU THE NINE MONTHS PERIOD ENDED 31 MARCH 2024
Nine Months Period Ended Quarter Encled
March 31,2024 4Inrc1a 31,2023 March 31,2024 Afar ch ?a1,2023
(Unaiidited) naudited) (Unaudited) (U nauclitecl) Rupees in '000' Rupees in '000'
:fi ct (lt›ss) / pro fit
Other comprehensive income
(3,185,348) 210,343 13,801
349,027
Total comprehensive (loss)/incoine for the period
(3,185,348) 210,343
Chief Financial Officer
13,801
AL SHAHEER CORPORATION LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY
1°O1 THE NINE MONTHS PERIOD ENDED 31 MARCH 2024
Capital Revenue
Issued,
reserve reserve Revaluation
surplus on
subscribed and paid-up capital
Share premium
Accumulated property, profit / (loss) plant and
equipment
Total
2,999,389 | 1,507,705 | 898,634 | 750,19J | 6,155,927 |
(749) | (750,199) | (750,948) |
ilalance as at 01 July 2022
210,.34.5 | 210,34.3 |
(3,185,348) | (3,185,348) |
/djustn cut due to change in
Rupees in '000'
Balancc as at UI rtl}' 2U22 - I cstaccd | 2,999,389 | 1,507,705 | 897,855 | 5,4tJ4,979 | |||
Net Profit | |||||||
210,343 | 21O,.343 | ||||||
749,847 | 7 /47 | ||||||
(35,764) | (33,764) | ||||||
13al•ince its at 31 Miircli 2023 - Restated | 1,507,705 | i,074,464 | - 6,.5.o4 ,405 | ||||
13:stance as at 01 J vi1)' 2023 - Restated | 3,749,236 | 1,507,705 | (535,757) | - | 4,321,184 | ||
iNer less dci r the p*crit›d t9ther coniprela ensi 'e income | |||||||
Total c rnlorclier'sive1c›ss | (3,185,348) | (3,185,348) | |||||
Balance as at 31 March 2024 - Unaudited | 3,749,236 | 1,507,705 | (4,121,105) | - | 1,135,836 |
Chief Financial Officer
AL SHAHEER CORPORATION LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS PERIOD ENDED 31 MARCH 2024
Nine Months Period Ended
31 March 2024 31 March 2023
Rupees in '000'CASH -LOWS FROM OPERATING ACTIVITIES
moss before taxation
Adjusts nents for non-cash items: Depreciation nn o}acratin,g fixecl assets Depr eciatitxl on ROU assets
Anno tizatiun of intangibles
Alloirnnce for ECL Int.in Whole u'rittcn off
lnco ne tax refundable written off l°r‹iv sion for gratuit)'
Net t ain on termination r›f right of used assets
(Gain) / LOss on clisposal ref propert)', plant and equipment I aetit in subsitliar)' written off
r‹›s
Worlun › ca{aital cli.inges Stock-in-trade
"Oracle tlcbts
f..manj and ad vnnccs
Due tu :i rclateti }o:irtv - net
Taxes |aaid
Finance cost } aid
Net cash used in operating activities
CASH FLOWS FROM INVEsSTtNG ACTIVITIES
Aclclitiuns tc' l•ru|aerty. l°lant anc1 eq rment
Sale |orricceds front tlispt›saJ of propert)', plant and equipment Set cash generated / (used in) investing activities
CASH 1°J-OWS FItOM FINANCING ACTIVITIES
Lt›ng-term financing - net Least rentals paid
Shor term bt›rrt›xv'ings - net
Net :isli (used in) / generated from financing activities Net (d crease) / increase in cash and cash equivalents Cash arid cash ecJ uix'aleilts at the beginning of the year Cash acid cash equivalents at the end of the period
Chief xccu iivc Officer
(3,178,841)228,658 | 2f›t,4.57 |
4,104 | 42,841 |
6,620 | 8,52G |
483,852 | T 9,'J(JfJ |
26,478 | |
15,595 | |
8,163 | 18,248 |
(27,975) | |
(2,724) | |
80,492 | 360,'992 |
823,263 | 812,244 |
2G2,572 | (37,G24) |
2,486,475 | (1,2U7,'J4C) |
264,614 | T8,805 |
13,108 | (2,419) |
7,659 | 17,.122 |
(593,907) | (2G2,180) |
121,156 |
2,561,G78
(244,172) (38,072)(3,279) 6,824 3,545 (25,239)
(29G)
(25,535) (60,062)66,264
6,204
Chief Financial Officer
2t5,?82
(t,474,U42)
(818,385)
(/›?,211)
716,08?
72,624 (ñ8,41t)
(2,52.1)
217,563
965,516
77,920
S,286
86,2()6