AM/PSX/FR/2025-02 April 30, 2025
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi
FINANCIAL RESULTS FOR THE PERIOD ENDED MARCH 31, 2025Dear Sir
We have to inform you that the Board of Directors of our company in their meeting held on 30.04.2025 at 02.00 P.M. at registered office Faisalabad recommended the following:
CASH DIVIDEND: NIL
BONUS SHARES: NIL
RIGHT SHARES: NIL
ANY OTHER ENTITLEMENT/CORPORATE ACTION N/A
ANY OTHER PRICE-SENSITIVE INFORMATION N/A
The Financial results of the company are enclosed herewith. The third quarter report of the company for the period ended March 31, 2025 will be transmitted through PUCARS within due course of time.
Regards
Financial Results of the Company are as follows:
Period ended Quarter ended
March 31 March 31
2025 2024 2025 2024
Rupees Rupees Rupees Rupees
Revenue from contracts with customers - net | 1,823,999,820 | 2,088,195,840 | 400,630,800 | 661,006,472 | ||||
Cost of revenue | 1,644,872,161 | 1,794,470,168 | 334,809,715 | 579,083,044 | ||||
Gross Profit | 179,127,659 | 293,725,672 | 65,821,085 | 81,923,428 | ||||
Other operating income / (loss) | 34,505,455 | 25,406,980 | (22,703,045) | 21,542,980 | ||||
213,633,114 | 319,132,652 | 43,118,040 | 103,466,408 | |||||
Selling and distribution expenses | 90,030,960 | 77,819,749 | 28,863,931 | 32,455,746 | ||||
Administrative expenses | 87,202,271 | 88,101,933 | 23,822,816 | 19,999,838 | ||||
Finance cost | 111,515,408 | 90,724,788 | 49,150,904 | 28,590,266 | ||||
288,748,639 | 256,646,470 | 101,837,651 | 81,045,850 | |||||
(Loss) / profit before income tax and levies | (75,115,525) | 62,486,182 | (58,719,612) | 22,420,558 | ||||
Levies | 18,228,842 | 29,755,700 | 3,890,486 | 12,276,774 | ||||
(Loss)/Profit before income tax | (93,344,367) | 32,730,482 | (62,610,098) | 10,143,784 | ||||
Income tax | 302,594 | - | - | - | ||||
Net (loss) / profit for the period | (93,646,961) | 32,730,482 | (62,610,098) | 10,143,784 | ||||
Earnings per share - Basic and diluted | (0.36) | 0.13 | (0.24) | 0.04 |
AMTEX LIMITED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2025
ASSETS
NON CURRENT ASSETS
NOTE
Un-audited Audited
December 31 June 30
2024 2024
RUPEES RUPEES
Property, plant and equipment | 5. | 711,662,821 | 974,336,976 | |
Investment property - fair value | 1,270,465,767 | 1,270,465,767 | ||
Long term deposits | 19,462,379 | 19,462,379 | ||
2,001,590,967 | 2,264,265,122 | |||
CURRENT ASSETS | ||||
Stores, spares and loose tools | 229,730,290 | 216,676,502 | ||
Stock in trade | 632,795,159 | 498,912,010 | ||
Trade debts | 6. | 205,976,889 | 217,932,489 | |
Advances | 37,843,244 | 41,092,393 | ||
Deposits | 4,799,126 | 5,948,126 | ||
Other receivable | 19,088,494 | 23,934,191 | ||
Advance income tax - net | 62,157,819 | 39,101,278 | ||
Sales tax receivable | 228,733,526 | 258,491,600 | ||
Cash and bank balances | 72,399,954 | 118,252,023 | ||
1,493,524,501 | 1,420,340,612 |
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Authorised capital
3,495,115,469 3,684,605,734
260,000,000 (30 June 2024: 260,000,000) | ||||
ordinary shares of Rs.10/- each | 2,600,000,000 | 2,600,000,000 | ||
Issued, subscribed and paid up capital | 2,594,301,340 | 2,594,301,340 | ||
Reserves Capital reserves | ||||
Merger reserve | 98,039,330 | 98,039,330 | ||
Share premium | 183,000,000 | 183,000,000 | ||
Surplus on revaluation of property, plant and equipment | 7. | 665,866,270 | 923,546,882 | |
946,905,600 | 1,204,586,212 | |||
Revenue reserves | ||||
General reserve | 250,000,000 | 250,000,000 | ||
Accumulated loss | (12,429,045,943) | (12,593,079,594) | ||
(8,637,839,003) | (8,544,192,042) | |||
NON CURRENT LIABILITIES | ||||
Redeemable capital | - | - | ||
Long term financing Lease liabilities Long term payable | 8. 9. | 1,046,562,147 -328,452,742 | 1,097,290,479 -231,195,249 | |
Deferred liabilities | 1,641,080,940 | 1,569,877,120 | ||
3,016,095,829 | 2,898,362,848 | |||
CURRENT LIABILITIES | ||||
Trade and other payables | 375,843,523 | 490,243,621 | ||
Contract Liabilities - unsecured | 296,371,911 | 162,463,213 | ||
Interest / markup payable | 2,644,004,898 | 2,702,818,114 | ||
Short term borrowings | 5,166,503,194 | 5,166,503,195 | ||
Current portion of non current liabilities | 634,135,117 | 808,406,785 | ||
9,116,858,643 | 9,330,434,928 | |||
Contingencies and commitments | 10. | - | - | |
3,495,115,469 | 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 CASH FLOWS (UN-AUDITED) FOR THE PERIOD ENDED MARCH 31, 2025 | PERIOD ENDED | |||
31-Mar | ||||
2025 RUPEES | 2024 RUPEES | |||
a) CASH FLOWS FROM OPERATING ACTIVITIES | ||||
(Loss) / profit before income tax and levies | (75,115,525) | 62,486,182 | ||
Adjustments for: | ||||
Depreciation of property, plant and equipment | 30,159,560 | 28,126,673 | ||
Provision for staff retirement gratuity | 7,052,005 | 5,791,633 | ||
Gain on disposal of property, plant and equipment | (29,915,455) | (17,835,980) | ||
Finance cost | 111,515,408 | 90,724,788 | ||
Operating cash flows before working capital changes | 43,695,993 | 169,293,296 | ||
Changes in working capital | ||||
Decrease / (Increase) in current assets | ||||
Stores, spares and loose tools | (13,053,788) | (17,691,887) | ||
Stock in trade | (133,883,149) | (104,321,192) | ||
Trade debts | 11,955,600 | 6,834,809 | ||
Advances | 3,249,149 | 529,597 | ||
Deposits | 1,149,000 | |||
Other receivable | 4,845,697 | (13,555,762) | ||
Sales tax receiveable | 29,758,074 | (18,831,791) | ||
Increase in current liabilities | ||||
Trade and other payables | (114,400,098) | 136,694,021 | ||
Contract liabilities | 133,908,698 | 62,864,605 | ||
(76,470,817) | 52,522,399 | |||
Cash generated from operations | (32,774,824) | 221,815,695 | ||
Income tax paid | (41,587,979) | (27,456,362) | ||
Finance cost paid | (106,176,809) | (47,302,580) | ||
Net Increase in long term payable | 97,257,493 | - | ||
Net cash (used in) / generated from operating activities | (83,282,119) | 147,056,753 | ||
b) CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Capital expenditure of property, plant and equipment | (24,733,905) | (111,400,237) | ||
Proceeds from disposal of property, plant and equipment | 287,163,955 | 278,862,850 | ||
Net cash generated from investing activities | 262,430,050 | 167,462,613 | ||
c) CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Repayment of long term financing | (225,000,000) | (270,000,000) | ||
Repayment of lease liabilities | - | (13,000,000) | ||
Short term borrowings - net | (100,000,000) | |||
Net cash used in financing activities | (225,000,000) | (383,000,000) | ||
Net decrease in cash and cash equivalents (a+b+c) | (45,852,069) | (68,480,634) | ||
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 | 72,399,954 | 43,607,534 | ||
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 PERIOD ENDED MARCH 31, 2025
ISSUED, SUBSCRIBED AND PAID UP CAPITAL | CAPITAL RESERVES | REVENUE RESERVES | TOTAL | |||||
MERGER RESERVE | SHARE PREMIUM | SURPLUS ON REVALUA-TION OF PROPERTY, PLANT AND EQUIPMENT | Subtotal | GENERAL RESERVE | ACCUMULATED LOSS | Subtotal | ||
---------------------------------------------------------------------------------------------------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 | - | - | - | - | - | - | 32,730,482 | 32,730,482 | 32,730,482 |
Other comprehensive income for the period | - | - | - | - | - | - | - | - | - |
Total comprehensive profit for the period | - | - | - | - | - | - | 32,730,482 | 32,730,482 | 32,730,482 |
Transfer from revaluation surplus of property, | |||||||||
-Incremental depreciation for the period | - | - | - | (3,697,167) | (3,697,167) | - | 3,697,167 | 3,697,167 | - |
-Disposal of fixed asset | - | - | - | (38,658,851) | (38,658,851) | - | 38,658,851 | 38,658,851 | - |
- | - | - | (42,356,018) | (42,356,018) | - | 42,356,018 | 42,356,018 | - | |
Balances as at March 31, 2024 (Unaudited) | 2,594,301,340 | 98,039,330 | 183,000,000 | 890,879,242 | 1,171,918,572 | 250,000,000 | (12,617,015,950) | (12,367,015,950) | (8,600,796,038) |
Net profit for the period | - | - | - | - | - | - | 58,880,066 | 58,880,066 | 58,880,066 |
Other comprehensive income for the period | - | - | - | - | - | - | (2,276,069) | (2,276,069) | (2,276,069) |
Total comprehensive income for the period | - | - | - | - | - | - | 56,603,997 | 56,603,997 | 56,603,997 |
Transfer from revaluation surplus of property, | |||||||||
-Incremental depreciation for the period | (1,780,576) | (1,780,576) | 1,780,576 | 1,780,576 | |||||
-Disposal of fixed asset | - | - | - | 34,448,216 | 34,448,216 | - | (34,448,216) | (34,448,216) | - |
- | - | - | 32,667,640 | 32,667,640 | - | (32,667,640) | (32,667,640) | - | |
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 | - | - | - | - | - | - | (93,646,961) | (93,646,961) | (93,646,961) |
Other comprehensive income for the period | - | - | - | - | - | - | - | - | - |
Total comprehensive loss for the period | - | - | - | - | - | - | (93,646,961) | (93,646,961) | (93,646,961) |
Transfer from revaluation surplus of property, | |||||||||
-Incremental depreciation for the period | - | - | - | (3,783,553) | (3,783,553) | - | 3,783,553 | 3,783,553 | - |
-Disposal of fixed assets | - | - | - | (253,897,059) | (253,897,059) | - | 253,897,059 | 253,897,059 | - |
- | - | - | (257,680,612) | (257,680,612) | - | 257,680,612 | 257,680,612 | - | |
Balances as at March 31, 2025 (Unaudited) | 2,594,301,340 | 98,039,330 | 183,000,000 | 665,866,270 | 946,905,600 | 250,000,000 | (12,429,045,943) | (12,179,045,943) | (8,637,839,003) |
The annexed notes from 1 to 20 form an integral part of these condensed interim financial statements.