FOOD S-
ALSHAHEER
.4ugvst29,2025
Subtcci: FI N A NH.ML REV £*LTD FOR TH E 3'EAR EN DED I U N Eâ0, 2024
\ c \ ‹ uld Iik‹ ‹› i 1Iirm he l'aL istan htock E.xchange that the B‹›ard of" Directors ‹›f AI Shahcrr Corpo tion
1. imi d ‹the L"‹›mpan^ ) in their meeting held on Friday. Auyus 29. *0*S a 1 I :30 AM at Company's rcgistrr<>
‹› Ilicc localcd :i Suit N+›. G/5/5. 3'" I1oor. ]'Mansoor To•'er. BIock•8, Shahrah-c-Roumi. Clifton. Karachi.
rc«»nnavndcd the li›llt*\ in*:
i. £'ash Hi i ident l3onus hhares It i*ht Shiirc.s
NII.
NI L
Nll.
I l1c l‹nanci• I res iIts ›I" tl1« £"‹›mpan;' as apprc› ed b}' tJ1c Board ol" Director cab the Company are appended t‹› this
Annual It p‹›rt » i II he Iran *nincd through PL!CARS helore 2 I da; s of holding the Annual €iencral Meeting ol"
- I S h u lteer C?or ›o ra tio n Lim ited
AI Shaheer Corporatin Limited
Suite # G/5/5, 3rd Floor Mansoor Tower
Block 8, Shahrah-e-Roomi, Clifton, Karachi.
Office: +92•21-38781100
tax: +92-21-35877017
Web: https://www.ascfoods.com
AL SHAHFER CORPORATION LIMITED
UNCONSOLIDAT D STATEMENT OF kIJ"4ANC1AL POSITION
AS AT JUNE 30, 2024
ASSETS
NON-CURRENT ASSETS
2024 2023 2022
#esatd) (RssMto ---------Rupecein'000'--------Property, plant and equipment | 3,794,089 | 4,442,104 | 4,703,479 | |||
Intangible assets | 35,305 | 47,073 | ||||
Long-term invescnent | 14,940 | |||||
G,439 | ||||||
- | 33S,625 | |||||
3,794,089 | 4,480,228 | S,J07,S56 | ||||
CURItENTASSETS | ||||||
Stock-in-trade | 2G2,572 | 289,0GJ | ||||
Trade debts | S,t00 | 3,044,879 | 3,054,203 | |||
Irans and advances | 202,577 | 340,400 | ||||
2"radc deposits and prepayments | T3,300 | 13,907 | ||||
Other rccci 'ables | 321,095 | 332,227 | 3G4,590 | |||
82,568 | t00,840 | t34,947 | ||||
Casl and bank bUanccr | 715 | GG,2G6 | 8,28G | |||
409479 | 4,022,GGt | 4,245,394 | ||||
zoziAsssas | 4,203,568 | 8,502,885 | 9,352.950 | |||
EQUITY AND L ILITIES | ||||||
SHARE CAPITAL AND RESERYES | ||||||
/uthnrized capitnI | 4,000,000 | 4,000,000 | 3,000,000 | |||
400,000,000 (2023: 400,000,000) ordinao shates of Rs. t0 each | ||||||
Issued, subscribed and paid-up capital | 3,749,236 | 3,749,236 | 2,999,389 | |||
Share premium | 1,507,70S | 1,507,705 | 1,507,70S | |||
(Accumulated losses) / unappropriated profit | ‹4,444,375) | (955,757) | 897,885 | |||
812,566 | 4,321,154 | 5,404,979 | ||||
NON-CURRENT LIABILITIES | ||||||
t84,333 | 382,996 | 731,640 | ||||
Imese liabilities | 47.S0t | 90,225 | ||||
Deferred liahifiq' | 110,773 | 102,850 | ||||
cvnasx'f LIAl3ILrrms | 303,269 | 74j,270 | 924,7t6 | |||
Trade and other pa) ables | S13,866 | 939,337 | 1,075,991 | |||
Short-term borrowings | t,8SS,132 | t,855,429 | t,637,867 | |||
/ccrued matk-up | 223,207 | 1t7,787 | ||||
Current portion of long-term financing | 718,735 | 357,089 | 138,8G2 | |||
Current portic›n ref deferred income - government ,grant | 870 | |||||
Cu rrent pc›rrion of lease liabil ities | G5,373 | 53,878 | ||||
3,087,735 | 3,440,435 | 3,023,255 | ||||
ooze Lquirv on i.mrrriss
CONTINGENC MEN'TS
4,205,568
8,502,889 9,352,950
AL SHAI3EER CORPORATION LIMITED UNCONSOLIDAT1.D STATEMFNT OF PROFIT OR LOSS FOR THL Y£i'AR ENDED JUI'•fE 30, 2024
2024 2023
fi°•tnted)
------------ Rupees in '000' ---------
Turnover | 724,438 | 5,884,9t8 | |
€iosi of sales | (1,354,174) | (6,280,S06) | |
Gross ( loss ) / profit | (629,736) | 604,412 | |
Administrativ e and distribution costs | (620,575) | (1,.340,98i) | |
Oder expenses | (2,200,148) | (1,272,869) | |
Other income | 30,776 | 1,093,370 | |
Operating loss | (3,415,683) | (916,068) | |
Finance co.st | (80,519) | (518.006) | |
hoes before taxat*on and levies | (3,500,202) | (1,434,074) |
Lcvics - minimum and final tax
Act {yes for thc ycaz
Loss per share
(3,508,618) (J,82t,T 24)
---------------(lupees)-----------------
(9.36} (5.53)
Chief financial OB
AL SIJAI EER CORPORATION LIMITED
UNCONSOLIDA2'ED STATEMENT OF O7"HER COMPREHENSIVE INCOME
Net loss for the year
Other corriprchcnsivc income
Items not to be reclassified to statement of profit or loss in subsequent years
Rerucasurcmcnt gain on defined benefit obligation - net of tax
2024 2023
(Restated)
------------ Rupees in '000' -------------(3,508,618) (t,821,124)
21,346
Total comprchensivc loss for the year
(3,508,61B)
Chief F-•inancial Officer
(1,799,778)
m. srrxrmEn coeromziON I•UND MCONSOLIDATED STATEMENT OF CHANGES W EQUIV KOR'£'I£E Y •nR EJ••4DED 30, 2024
Cagitzt Revenue ¥eeezve
Reve!ueéon
issued, (ArcumuJa¥ed
aubeczibed ead Sh•ze loaaes) /
paid-ug capital p¥amiom uoapgropnated
and
- - Ropace '000' -
Balance ms at/uly 0j, 2022 2,999389 | t,507,705 | 898,G.84 | 750,199 | 6,155,927 | ||||||
Adjustment dcic ro ch tripe in zcct›un xig policy' note | {749) | (750,199) | (750,548) | |||||||
Balance us at July 01, 2022 - restated 2,999,389 | 1,507,705 | 857,885 | 5,404,979 | |||||||
(1,82t,124) | - (j,82t,j 24) | |||||||||
Other eomprehensi»e income for the j-ear | 2l,34G | - 21,34G | ||||||||
JutaJ cr›mprehensive loss for rhe )'oar | - (I.79g,778) | - (t,7fi9,77§ | ||||||||
Issuance of shares | 749,847 | 749,847 | ||||||||
Issuance cost on shares | (13,8G4) | {23,8G4§ | ||||||||
Balance as at June 3£t, 2023 - restated | 3,749,Z36 1,507,705 | - 4,321,t84 | ||||||||
Net loss for the yes r | {3,508,618) | - 3,508,6t8) | ||||||||
Other comprehensive income for the )'car | ||||||||||
d'otal comprehensive [nss for the )'ear | 3,508,618) | - 3,508,6E8) | ||||||||
Balance as at June 30, 2024 | 3,749,236 1,507,705 (4,444,37S) | - 8t2,566 | ||||||||
ChiefBxomdvtOAce,
Chief Finonciat O£ticea
W. SELLER GORPORA3"IOJ I LIMITED UNCONSOLIDATED STATEMEN'f OF CASH FLOWS KOR THE YF'.AR ENDED JUNE 30, 2024 | ||||
2024 | 2025 | |||
(Restactd) | ||||
- Rupeea | '000' --------- | |||
CASH I•LOWS FROM OPERATING ACTIVITIES | ||||
I.oss before taxacion and levies | ‹3,500,202) | ( ,434,074) | ||
Adjusuncnte for non-cash itcme: | ||||
Depreciation on operating fixed assets | 343,189 | 544,3!3 | ||
Depreciation on ROU assets | 4,t04 | S74!5 | ||
A morfixarion of inrangibles | 8,826 | 11,768 | ||
Property, plant and equipment written o£f | 129,103 | |||
1ntiing'ib1c written ruff | 36478 | |||
Capital u'‹ark in progress u'riicen off | V 789 | |||
Allowance for ECL | 1,897,617 | |||
Provision for gratuity | 8163 | |||
Income tax re£undalalc written off | 15596 | |||
Net pin on termination of right of use assets (Gain) / Loss on disposal o£property, plant rind equipment | (27,976) (279 | I 1,942 | ||
I nvesunent in subsirfiaq' written off | 14,940 | |||
Finance cost | 80,519 | 518,006 | ||
2,574,611 | 2,188,694 | |||
Working capital changes | ||||
Stock-in-tmdc | 262,572 | 26,489 | ||
Trade debts | 1142,162 | (1,l43,39t) | ||
Lrians and advances | 205396 | 141,443 | ||
'£racle deposits and prepaymcnts | 1 300 | 607 | ||
Other receivables | 11152 | 32,363 | ||
Trade and other pa} nblcs | (425,471) | (4 34,654) | ||
1209,091 | (1,077,143) | |||
'1'axes paid Crntui paid | (S730) | (25,564) (95t) | ||
I5nance costpad | (298,323) | (59516/ | ||
Net caeh ueed in operating activities | (20,563) | (744,205) | ||
CASH t'LOWs raoxi szmG amivrrIEs | ||||
Additions to propcr9', planr rind equipment | (14,S71) | |||
Sale proceeds from disposal of properq', plant and equipment | 6,897 | |||
Net cash used in investing activities | (7,674) | (t27,540) | ||
CASH ELOws rRoM rixwciuG ACTIVITIES | ||||
Issuance of shares-net | 715,583 | |||
I.end-term financing - net | (37,0T7) | 69,583 | ||
1.ense renm.1s paid | (73,305) | |||
Short terns t›orrowings - net | (297) | 217,563 | ||
Net cash (used in) / generated fron3 financing activities | (37,314) | 929,824 | ||
Net (decrease) / increase in cash and cash equivalents | (65,551) | 57,980 | ||
Cash and c en t the b inning of ihe year | 66,266 | 8,280 | ||
C d cash equi e ts a d c year | 7t5 | 56,2G6 | ||