AMTEX LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31, 2024
Un-audited | Audited | ||
December 31 | June 30 | ||
2024 | 2024 | ||
NOTE | RUPEES | RUPEES | |
ASSETS | |||
NON CURRENT ASSETS | |||
Property, plant and equipment | 5. | 798,052,318 | 974,336,976 |
Investment property - fair value | 1,270,465,767 | 1,270,465,767 | |
Long term deposits | 19,462,379 | 19,462,379 | |
2,087,980,464 | 2,264,265,122 | ||
CURRENT ASSETS | |||
Stores, spares and loose tools | 214,223,669 | 216,676,502 | |
Stock in trade | 588,542,743 | 498,912,010 | |
Trade debts | 6. | 241,327,188 | 217,932,489 |
Advances | 70,220,801 | 41,092,393 | |
Deposits | 4,799,126 | 5,948,126 | |
Other receivable | 19,586,955 | 23,934,191 | |
Advance income tax - net | 55,340,799 | 39,101,278 | |
Sales tax receivable | 252,978,938 | 258,491,600 | |
Cash and bank balances | 142,143,034 | 118,252,023 | |
1,589,163,253 | 1,420,340,612 | ||
3,677,143,717 | 3,684,605,734 | ||
EQUITY AND LIABILITIES | |||
SHARE CAPITAL AND RESERVES | |||
Authorised capital | |||
260,000,000 (30 June 2024: 260,000,000) | 2,600,000,000 | 2,600,000,000 | |
ordinary shares of Rs.10/- each | |||
Issued, subscribed and paid up capital | 2,594,301,340 | 2,594,301,340 | |
Reserves | |||
Capital reserves | 98,039,330 | 98,039,330 | |
Merger reserve | |||
Share premium | 7. | 183,000,000 | 183,000,000 |
Surplus on revaluation of property, plant and equipment | 766,101,582 | 923,546,882 | |
1,047,140,912 | 1,204,586,212 | ||
Revenue reserves | 250,000,000 | 250,000,000 | |
General reserve | |||
Accumulated loss | (12,466,671,158) | (12,593,079,594) | |
(8,575,228,906) | (8,544,192,042) | ||
NON CURRENT LIABILITIES | |||
Redeemable capital | 8. | - | - |
Long term financing | 1,078,416,591 | 1,097,290,479 | |
Lease liabilities | 9. | - | - |
Long term payable | 266,271,871 | 231,195,249 | |
Deferred liabilities | 1,622,064,644 | 1,569,877,120 | |
2,966,753,106 | 2,898,362,848 | ||
CURRENT LIABILITIES | 583,027,413 | 490,243,621 | |
Trade and other payables | |||
Contract Liabilities - unsecured | 212,631,758 | 162,463,213 | |
Interest / markup payable | 2,655,676,478 | 2,702,818,114 | |
Short term borrowings | 5,166,503,195 | 5,166,503,195 | |
Current portion of non current liabilities | 667,780,673 | 808,406,785 | |
9,285,619,517 | 9,330,434,928 | ||
Contingencies and commitments | 10. | - | - |
3,677,143,717 | 3,684,605,734 |
The annexed notes from 1 to 20 form an integral part of these condensed interim financial statements.
AMTEX LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE HALF YEAR ENDED DECEMBER 31, 2024
CAPITAL RESERVES | REVENUE RESERVES | ||||||||
ISSUED, | SURPLUS ON | ||||||||
MERGER | SHARE | REVALUA-TION OF | GENERAL | ACCUMULATED | |||||
SUBSCRIBED AND | Subtotal | Subtotal | TOTAL | ||||||
RESERVE | PREMIUM | PROPERTY, PLANT | RESERVE | LOSS | |||||
PAID UP CAPITAL | |||||||||
AND EQUIPMENT | |||||||||
--------------------------------------------------------------------------------------------------- | Rupees -------------------------------------------------------------------------------------------------- | ||||||||
Balances as at July 01, 2023 (Audited) | 2,594,301,340 | 98,039,330 | 183,000,000 | 933,235,260 | 1,214,274,590 | 250,000,000 | (12,692,102,450) | (12,442,102,450) | (8,633,526,520) |
Profit for the period | - | - | - | - | - | - | 42,629,677 | 42,629,677 | 42,629,677 |
Other comprehensive income for the period | - | - | - | - | - | - | - | - | - |
Total comprehensive profit for the period | - | - | - | - | - | - | 42,629,677 | 42,629,677 | 42,629,677 |
Transfer from revaluation surplus of property, plant and equipment: | |||||||||
-Incremental depreciation for the period | - | - | - | (2,464,778) | (2,464,778) | - | 2,464,778 | 2,464,778 | - |
-Disposal of fixed asset | - | - | - | (4,210,635) | (4,210,635) | - | 4,210,635 | 4,210,635 | - |
- | - | - | (6,675,413) | (6,675,413) | - | 6,675,413 | 6,675,413 | - | |
Balances as at December 31, 2023 (Unaudited) | 2,594,301,340 | 98,039,330 | 183,000,000 | 926,559,847 | 1,207,599,177 | 250,000,000 | (12,642,797,360) | (12,392,797,360) | (8,590,896,843) |
Net profit for the period | - | - | - | - | - | - | 48,980,871 | 48,980,871 | 48,980,871 |
Other comprehensive income for the period | - | - | - | - | - | - | (2,276,069) | (2,276,069) | (2,276,069) |
Total comprehensive income for the period | - | - | - | - | - | - | 46,704,802 | 46,704,802 | 46,704,802 |
Transfer from revaluation surplus of property, plant and equipment: | |||||||||
-Incremental depreciation for the period | - | - | - | (3,012,965) | (3,012,965) | - | 3,012,965 | 3,012,965 | - |
- | - | - | (3,012,965) | (3,012,965) | - | 3,012,965 | 3,012,965 | - | |
Balances as at June 30, 2024 (Audited) | 2,594,301,340 | 98,039,330 | 183,000,000 | 923,546,882 | 1,204,586,212 | 250,000,000 | (12,593,079,594) | (12,343,079,594) | (8,544,192,042) |
Loss for the period | - | - | - | - | - | - | (31,036,864) | (31,036,864) | (31,036,864) |
Other comprehensive income for the period | - | - | - | - | - | - | - | - | - |
Total comprehensive loss for the period | - | - | - | - | - | - | (31,036,864) | (31,036,864) | (31,036,864) |
Transfer from revaluation surplus of property, plant and equipment: | |||||||||
-Incremental depreciation for the period | - | - | - | (2,540,781) | (2,540,781) | - | 2,540,781 | 2,540,781 | - |
-Disposal of fixed assets | - | - | - | (154,904,519) | (154,904,519) | - | 154,904,519 | 154,904,519 | - |
- | - | - | (157,445,300) | (157,445,300) | - | 157,445,300 | 157,445,300 | - | |
Balances as at December 31, 2024 (Unaudited) | 2,594,301,340 | 98,039,330 | 183,000,000 | 766,101,582 | 1,047,140,912 | 250,000,000 | (12,466,671,158) | (12,216,671,158) | (8,575,228,906) |
The annexed notes from 1 to 20 form an integral part of these condensed interim financial statements.
AMTEX LIMITED
CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED)
FOR THE HALF YEAR ENDED DECEMBER 31, 2024
HALF YEAR ENDED | ||
DECEMBER 31 | ||
2024 | 2023 | |
RUPEES | RUPEES | |
a) CASH FLOWS FROM OPERATING ACTIVITIES | ||
(Loss) / profit before income tax and levies | (16,395,914) | 60,108,603 |
Adjustments for: | ||
Depreciation of property, plant and equipment | 19,784,658 | 17,639,201 |
Provision for staff retirement gratuity | 8,408,285 | 4,151,425 |
Gain on disposal of property, plant and equipment | (54,118,500) | (17,835,980) |
Finance cost | 62,364,504 | 62,134,523 |
Operating cash flows before working capital changes | 20,043,033 | 126,197,772 |
Changes in working capital | ||
Decrease / (Increase) in current assets | ||
Stores, spares and loose tools | 2,452,833 | (23,409,885) |
Stock in trade | (89,630,733) | (88,720,737) |
Trade debts | (23,394,699) | (26,834,557) |
Advances | (29,128,408) | 2,746,690 |
Deposits | 1,149,000 | - |
Other receivable | 4,347,236 | (5,126,867) |
Sales tax receiveable | 5,512,662 | (50,440,847) |
Increase in current liabilities | ||
Trade and other payables | 92,783,792 | 224,498,909 |
Contract liabilities | 50,168,545 | 413,489 |
14,260,228 | 33,126,195 | |
Cash generated from operations | 34,303,261 | 159,323,967 |
Income tax paid | (30,880,471) | (17,609,679) |
Finance cost paid | (65,726,901) | (28,271,990) |
Net Increase in long term payable | 35,076,622 | - |
Net cash (used in) / generated from operating activities | (27,227,489) | 113,442,298 |
b) CASH FLOWS FROM INVESTING ACTIVITIES | ||
Capital expenditure of property, plant and equipment | - | (63,612,113) |
Proceeds from disposal of property, plant and equipment | 210,618,500 | 178,862,850 |
Net cash generated from investing activities | 210,618,500 | 115,250,737 |
c) CASH FLOWS FROM FINANCING ACTIVITIES | ||
Repayment of long term financing | (159,500,000) | (170,000,000) |
Repayment of lease liabilities | - | (10,000,000) |
Short term borrowings - net | - | (100,000,000) |
Net cash used in financing activities | (159,500,000) | (280,000,000) |
Net increase / (decrease) in cash and cash equivalents (a+b+c) | 23,891,011 | (51,306,965) |
Cash and cash equivalents at the beginning of the period | 118,252,023 | 112,088,168 |
Cash and cash equivalents at the end of the period | 142,143,034 | 60,781,203 |
The annexed notes from 1 to 20 form an integral part of these condensed interim financial statements.