Date: 29 April 2025
Ref: ASL/PSX/0306/2025
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi.
SUBJECT: FINANCIAL RESULTS FOR THE OUARTER ENDED 31 MARCH 2025
Dear Sir,
FORM-7
We have to inform you that the Board of Directors of the Company in their meeting held on Tuesday, 29 April 2025 at 03:00 pm, at Karachi, recommended the following:
- CASH DIVIDEND
BONUS SHARES
- RIGHT SHARES
ANY OTHER ENTITLEMENT/CORPORATE ACTION
- ANY OTHER PRICE-SENSITIVE INFORMATION
NIL NIL NIL NIL NIL
The financial results of the Company for the quarter ended 31 March 2025 are attached as "Annexure-A".
The quarterly report of the Company for the period ended 31 March 2025 will be transmitted through PUCARS separately, within the specified time.
YoJurs Sincerely,
LIMITED"
•
"*t
The Director/HOD
Surveillance, Supervision & Enforcement Department Securities and Exchange Commission of Pakistan
NIC Building, 63 Jinnah Avenue, Blue Area Islamabad.
Page 1 of 1
§ A/1& SJ.T.E., Karachi-75730. t•+ 111-AM¥tB.i (267-3S4)
+92-2t -36798328
REM
E
AMRELI STEELS LIMITEDCONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT MARCH 31, 2025
Annexure - A.1
March 31, 2025 | June 30, 2024 | ||
(Un-audited) | (Audited) | ||
ASSETS | (Rupees in '000) | ||
NON-CURRENT ASSETS | |||
Property, plant and equipment | 27,535,309 | 29,955,370 | |
Right of use asset | 66,979 | 100,238 | |
Intangible assets | 1,688 | 3,187 | |
Long-term deposits and loans | 185,203 | 175,575 | |
27,789,179 | 30,234,370 | ||
CURRENT ASSETS | |||
Stores and spares | 2,039,945 | 2,453,480 | |
Stock-in-trade | 3,772,768 | 7,162,017 | |
Trade debts | 1,596,780 | 2,349,962 | |
Loans and advances | 40,483 | 60,121 | |
Trade deposits and short-term prepayments | 292,060 | 30,035 | |
Short term investment | 14,389 | 14,289 | |
Other receivables | 690,241 | 988,633 | |
Taxation - net | 2,735,406 | 2,928,387 | |
Cash and bank balances | 2,759,660 | 195,444 | |
13,941,732 | 16,182,367 | ||
Non current assets held for sale | 1,640,069 | 423,170 | |
TOTAL ASSETS | 43,370,980 | 46,839,907 | |
EQUITY AND LIABILITIES | |||
SHARE CAPITAL AND RESERVES | |||
Authorized capital | |||
500,000,000 ordinary shares of Rs.10 each | 5,000,000 | 5,000,000 | |
Issued, subscribed and paid-up capital | 2,970,114 | 2,970,114 | |
Capital reserve | 2,788,742 | 2,788,742 | |
Revenue reserve - accumulated losses | (3,427,951) | (751,018) | |
Surplus on revaluation of property, plant and equipment | 9,036,492 | 9,218,163 | |
11,367,397 | 14,226,001 | ||
NON-CURRENT LIABILITIES | |||
Long term financing | |||
Loan from related party | 124,922 | 124,922 | |
Deferred taxation | 3,710,211 | 4,946,265 | |
Deferred liability - defined benefit obligation | 398,230 | 511,949 | |
Lease liabilities | 47,905 | 105,818 | |
4,281,268 | 5,688,955 | ||
CURRENT LIABILITIES | |||
Trade and other payables | 1,053,629 | 2,474,553 | |
Contract liabilities | 320,069 | 437,305 | |
Interest / markup accrued | 3,784,772 | 1,457,718 | |
Short-term borrowings - secured | 17,853,392 | 17,861,957 | |
Current portion of long-term financing | 4,016,544 | 4,002,484 | |
Current portion of long-term provision | 282,238 | 282,189 | |
Current portion of lease liabilities | 61,590 | 34,310 | |
Current portion of government grant | 344,826 | 369,161 | |
Unclaimed dividend | 5,255 | 5,274 | |
27,722,315 | 26,924,951 | ||
TOTAL EQUITY AND LIABILITIES | 43,370,980 | 46,839,907 | |
CONTINGENCIES AND COMMITMENTS | |||
CHIEF EXECUTIYE OFFICIAL t.
-Sd-
DIRECTOR-Sd-
CHIEF FINANCIAL OFFICERAMRELI STEELS LIMITED | Annexure - A.2 | ||||
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) | |||||
FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025 | |||||
Nine months period ended Quarter ended | |||||
March 31, | March 31, | March 31, | March 31, | ||
2025 | 2024 | 2025 | 2024 | ||
(Restated) | (Restated) | ||||
- | --- - -- (Rupees in '000) - | - | ----- | ||
Sales | 12,910,413 | 33,433,648 | 4,109,589 | 11,182,624 | |
Cost of sales | (12,570,532) | (30,056,813) | (4,015,532) | (10,294,339) | |
Gross profit | 339,881 | 3,376,835 | 94,057 | 888,285 | |
Distribution costs | (444,051) | (873,158) | (132,692) | (319,714) | |
Administrative expenses | (572,210) | (643,830) | (187,326) | (202,370) | |
Reversal / (provision) of expected credit loss | 78,177 | (76,462) | 20,651 | (47,293) | |
Other expenses | (313,520) | (116,311) | (281,803) | 6,631 | |
Other income | 119,843 | 28,093 | 46,260 | 25,980 | |
Operating (loss) / profit | (791,880) | 1,695,167 | (440,853) | 351,519 | |
Finance costs | (3,140,724) | (3,554,612) | (900,087) | (1,288,542) | |
Loss before taxation, minimum and final tax | (3,932,604) | (1,859,445) | (1,340,940) | (937,023) | |
Levy | (162,053) | (421,154) | (52,733) | (143,145) | |
Loss before taxation | (4,094,657) | (2,280,599) | (1,393,673) | (1,080,168) | |
Taxation | 1,236,053 | 981,612 | 408,130 | 413,508 | |
Loss for the period | (2,858,604) | (1,298,987) | (985,543) | (666,660) | |
------ | - (Rupees) - | - | - | ||
Loss per share - basic and diluted | 9 62 4 37 3 32 | 2 24 | |||
-Sd- | -Sd- | ||||
CHIEF EXECUTIVE OFFICER | DIRECTOR | CHIEF FINANCIAL OFFICER | |||
AMRELI STEELS LIMITED
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025
Nine months period ended Quarter Ended
March 31, March 31,
2025 2024
(Restated)
March 31, March 31,
2025 2024- (Rupees in '000)
Loss for the period
Other comprehensive income for the period
(2,858,604)
(1,298,987)
(985,543)
(666,660)
Total comprehensive loss for the period
(2,858,604) (1,298,987) (985,543)
(666,660)
-Sd-CHIEF EXECUTIVE
-Sd-DIRECTOR
-Sd-
CHIEF FINANCIAL OFFICER
AMRELISTEELSLIMITED
CONDENSED INTERIM STATESTENT OF CHANGES IN EQUITY
Revenue reserve
gOR THE NINE MONTIM I'ERtOD ENDEO MARCH 31, 20ZS
Bdmo mxmtJuoe50,2023(» greGoudyrepofl)
2.970.1 I4
(154,857)
89,629 (186,056)
2,970.114
3.521.96 1
5,095368
14.376,t85
Bzm«uztJuy0t,2OI3-urzRuzd
(1,298,987} (t,29#,987
(T,298,987)
Tmmknmdti mxumWsmdpo6tmnspomof
-ézmmootfldopmGmkodunogAzpsnod-oeo£ms
- deleti0ft Of lBOd
2 970 I It
2 788 742
3 290 212
390S3#0
Bnlznce zs at March 31, 2024- as restated
(Z,85#,6O4
Total comprehensive loss for the period
KARAC HI
CHIEF RXEClfTIYE OFPI CER
2,788,742
(122,750)
46,999
62400
(T22.7é0)
t4,226,00t
AMRELI STEELS LIMITED CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025 Annexure - A5
2025 March 31, 2024 (Restated)
CASH FLOWS FROM OPERATING ACTIVITIES | (Rupees in '000) - | |
Loss before taxation | (4,094,657) | (2,280,599) |
Adjustments for: | ||
Depreciation on: | ||
- Operating fixed assets | 1,009,814 | 755,653 |
- Right-of-use assets | 27,368 | 30,100 |
Amortization on: | ||
- Intangible assets | 1,499 | 2,855 |
- Government grant | (24,335) | (32,245) |
Bad debt written off | (3,997) | |
Unrealized exchange gain | (19,805) | |
(Reversal)/Provision of expected credit loss | (78,177) | 76,461 |
Provision for gratuity | 98,446 | 90,826 |
Provision/(Reversal) of GIDC | 49 | (385) |
Loss/ (Gain) on disposal of operating fixed assets | 275,870 | (25,783) |
Finance costs | 3,131,269 | 3,541,334 |
Interest expenses on leases | 9,455 | 13,278 |
Net cash from operating profit before working capital changes | 4,451,257 | 4,428,293 |
Decrease/ (increase) in current assets: | ||
Stores and spares | 413,535 | 426,217 |
Stock-in-trade | 3,389,249 | (1,188,919) |
Trade debts | 771,359 | (59,202) |
Loans and advances | 19,638 | (48,038) |
Trade deposits and short-term prepayments | (262,025) | (1,061) |
Other receivables | 298,392 | (4,671) |
4,630,148 | (875,674) | |
Decrease in current liabilities: | ||
Trade and other payables | (934,968) | (2,766,225) |
Contract liabilities | (117,236) | (16,534) |
(1,052,204) | (2,782,759) | |
Cash generated from / (used in) operations | 3,934,545 | (1,510,738) |
Income taxes paid | (292,078) | (427,695) |
Gratuity paid | (212,165) | (31,265) |
Finance costs paid | (804,215) | (3,000,252) |
Long-term deposits - net | (9,628) | 989 |
Net cash from / (used in) operating activities | 2,616,459 | (4,968,961) |
CASH FLOWS FROM INVESTING ACTIVITIES |
Fixed capital expenditure
Proceeds from disposal of operating fixed assets Short-term investment
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIESDividends paid
Short-term borrowings - net Long-term financing - net Loan from directors
Lease rentals paid
(19) | (175) |
691,958 | 5,317,077 |
(137,572) | (1,218,762) |
(174,215) | |
(34,198) | (15,325) |
(22,622)
(265,969)
Net cash from financing activities | 520,169 | 3,908,600 |
Net increase / (decrease) in cash and cash equivalents | 3,114,006 | (1,326,330) |
Cash and cash equivalents at beginning of the period | (3,052,525) | (1,700,884) |
Cash and cash equivalents at end of the periods | 61,481 | (3,027,214) |
(38,580) | (461,098) |
16,058 | 195,129 |
(100) |
-Sd-
DIRECTOR-Sd-
CHIEF FINANCIAL OFFICER