BECO/PSX/2025/71 PUCARS / Courier
April 28, 2025
The General Manager
Pakistan Stock Exchange Limited
Stock Exchange Building, Stock Exchange Road, Karachi
Subject: Financial Results for the 3rdQurater Ended Mar 31, 2025Dear Sirs
We have to inform you that the Board of Directors of Beco Steel Limited (the Company) in their meeting held on Monday April 28, 2025 at 11:30 AM at Head Office of the Company at 79-Peco Road, Badami Bagh Lahore has recommended the following:
Cash Dividend Nil
Bonus / Right Shares Nil
Any Other Entitlement / Corporate Action Nil
Any Other Price-Sensitive Information Nil
The financial results of the Company along with the Condensed Interim Statement of Profit and Loss (Un-audited) Condensed Interim Statement of Financial Position, Condensed Interim Statement of Changes in Equity and Condensed Interim Statement of Cash Flow for the period ended March 31, 2025 are attached as Annexure.
The quarterly report of the Company for the period ended March 31, 2025 will be transmitted through PUCARS separately within the specified time.
Thanking you, Yours faithfully,
For Beco Steel LimitedMuhammad Ali Shafique Ch. Chief Executive Officer
Encl: as above
CC: The Executive Director/HOD
Off-Site-ll Department, Supervision Division, Securities & Exchange Commission of Pakistan NIC Building, Jinnah Avenue Blue Area, IslamabadCONDENSED QUARTERLY STATEMENT OF FINANCIAL POSITION (UN-AUDITED)
AS AT 31 MARCH 202531-Mar-2025 30-June-2024
EQUITY AND LIABILITIES Note Rupees Rupees Share capital and reserves
Authorised share capital:
150,000,000 (30 June 2024: 150,000,000) ordinary
shares of Rs.10 each 1,500,000,000 1,500,000,000
Issued, subscribed and paid up capital
124,962,510 (30 June 2024: 124,962,510) ordinary
shares of Rs.10 each | 1,249,625,100 | 1,249,625,100 | |
Share Premium | 1,999,250,200 | 1,999,250,200 | |
Loan from directors Revenue reserve Accumulated profit/ (loss) | 5 | 254,072,420 -(215,561,696) | 254,672,420 -(418,500,625) |
3,287,386,024 | 3,085,047,095 | ||
Non current liabilities | - | ||
Current liabilities | |||
Trade and other payable | 3,406,076,418 | 3,960,771,737 | |
Unclaimed dividend | 4,911,563 | 4,911,563 | |
Deferred tax liability | 120,346,181 | 117,866,944 | |
3,531,334,162 | 4,083,550,244 |
Contingencies and commitments 6 - -
6,818,720,186 7,168,597,339
ASSETS
Non current assets
Property, plant and equipment Long term deposits
Current assets
Stock in Trade
Stores, spares and loose tools Trade debts
Income tax due from Government
Trade deposits and short term prepayments Other recieveable
Cash and bank balances
3,676,096,425 | 3,762,870,968 |
450,000 | 450,000 |
3,676,546,425 3,763,320,968
1,666,723,950 | 2,137,557,970 |
528,059 | 264,500 |
981,801,653 | 938,018,505 |
247,467,851 | 144,639,891 |
210,861,112 | 166,162,695 |
158,627 | - |
34,632,510 | 18,632,810 |
3,142,173,762 3,405,276,371
6,818,720,187 7,168,597,339
The annexed notes from 01 to 12 form an integral part of these financial statements.
CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER
Nine Month ended Quarter endedNote | 31-Mar-2025 Rupees | 31-Mar-2024 Rupees | 31-Mar-2025 Rupees | 31-Mar-2024 Rupees | |
Sales | 6,064,354,823 | 2,781,166,825 | 1,738,104,289 | 942,456,686 | |
Cost of Sales | (5,642,489,593) | (2,679,606,004) | (1,659,329,185) | (892,049,969) | |
Gross profit | 421,865,230 | 101,560,821 | 78,775,104 | 50,406,717 | |
Distribution and selling expenses | 763,000 | 921,030 | - | - | |
Administrative and general expenses | 118,269,348 | 51,006,514 | 44,979,480 | 4,833,028 | |
Other operating expenses | 23,953,822 | 3,567,945 | 1,983,739 | 145,000 | |
142,986,170 | 55,495,489 | 46,963,219 | 4,978,028 | ||
Operating profit /(loss) | 278,879,060 | 46,065,332 | 31,811,885 | 45,428,689 | |
Other income | 123,191 | 143,197 | 11,456 | - | |
Profit from operations | 279,002,252 | 46,208,529 | 31,823,342 | 45,428,689 | |
Finance cost | (258,889) | (1,156,399) | (59,224) | (221,900) | |
Profit before levies and taxation | 278,743,363 | 45,052,130 | 31,764,118 | 45,206,789 | |
Levies | - | - | - | - | |
Profit before taxation | 278,743,363 | 45,052,130 | 31,764,118 | 45,206,789 | |
Taxation | (75,804,434) | (34,764,584) | (21,726,303) | (11,780,707) | |
Profit/ (Loss) after taxation | 202,938,929 | 10,287,546 | 10,037,815 | 33,426,082 | |
Earning per share- basic and diluted | 7 | 1.62 | 0.08 | 0.08 | 0.27 |
The annexed notes from 01 to 12 form an integral part of these financial statements.
CHIEF EXECUTIVE OFFICER
DIRECTOR CHIEF FINANCIAL OFFICER
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)
FOR THE NINE MONTHS ENDED 31 MARCH 2025 Nine Months ended Quarter endedNote | 31-Mar-2025 Rupees | 31-Mar-2024 Rupees | 31-Mar-2025 Rupees | 31-Mar-2024 Rupees |
Profit/(Loss) for the period | 202,938,929 | 10,287,546 | 36,371,499 | 36,371,499 |
Other comprehensive income: | ||||
Item that will not be reclassified to statement of profit or loss: | - | - | - | - |
Items that may be reclassified to statement of profit or loss: | - | - | - | - |
Other comprehensive income for the period | - | - | - | - |
Total comprehensive income for the period 202,938,929 10,287,546 36,371,499 36,371,499
The annexed notes from 01 to 12 form an integral part of these financial statements.
CHIEF EXECUTIVE OFFICER
DIRECTOR CHIEF FINANCIAL OFFICER
BECO STEEL LIMITED
CONDENSED QUARTERLY STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE NINE MONTH ENDED 31 MARCH 2025
(Rupees)
Share capital | Share premium | Loan from sponsors | Revenue reserve | Accumulated Loss / profit | Total equity |
General reserve |
Balance as at 30 June 2023 | 1,249,625,100 | 1,999,250,200 | 254,672,420 | - | (325,956,731) | 3,177,590,989 |
Profit for the nine month ended | ||||||
31 March 2024 Loan from sponsor Loan from sponsor repaid Other comprehensive income for the nine month ended 31 March 2024 | - - - - | - - - - | - - - - | - - - - | 10,287,546 - - - | 10,287,546 - - - - |
Total comprehensive income for the nine month ended 31 March 2024 | - | - | - | 10,287,546 | 10,287,546 | |
Balance as at 31 March 2024 | 1,249,625,100 | 1,999,250,200 | 254,672,420 | - | (315,669,185) | 3,187,878,535 |
Balance as at 30 June 2024 (Audited) | 1,249,625,100 | 1,999,250,200 | 254,672,420 | - | (418,500,625) | 3,085,047,095 |
Profit for the nine month ended | ||||||
31 March 2025 | - | - | - | - | 202,938,929 | 202,938,929 |
Loan from directors | - | - | - | - | - | - |
Loan paid to directors | - | - | (600,000) | - | (600,000) | |
Other comprehensive income for the | - | - | ||||
nine month ended 31 March 2025 | - | - | - | - | ||
Total comprehensive profit for the nine | ||||||
month ended 31 March 2025 | - | - | (600,000) | - | 202,938,929 | 202,338,929 |
Balance as at 31 March 2025 | 1,249,625,100 | 1,999,250,200 | 254,072,420 | - | (215,561,696) | 3,287,386,024 |
CHIEF EXECUTIVE OFFICER
The annexed notes from 01 to 12 form an integral part of these financial statements.
DIRECTOR CHIEF FINANCIAL OFFICER
CONDENSED QUARTERLY STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE NINE MONTH ENDED 31 MARCH 2025 Nine month endedCASH FLOWS FROM OPERATING ACTIVITIES | Note | 31-Mar-2025 Rupees | 31-March-2024 Rupees | |
Profit for the period before taxation | 278,743,363 | 45,052,130 | ||
Adjustments for following items: | ||||
Depreciation | 108,537,393 | 49,017,206 | ||
Finance cost | 18,304,584 | 1,156,399 | ||
126,841,977 | 50,173,605 | |||
Operating profit before working capital changes | 405,585,340 | 95,225,735 | ||
(Increase) / decrease in current assets | ||||
Trade debts - unsecured but considered good | (43,783,148) | 636,401,782 | ||
Loan and advances | - | - | ||
Stock-in-trade | 470,834,020 | (21,298,909) | ||
Stores, spares and loose tools | (263,559) | - | ||
Trade deposit and prepayment | (44,698,417) | 139,715,923 | ||
Other receivable | (158,627) | - | ||
381,930,270 | 754,818,796 | |||
Decrease / (decrease) in current liabilities | ||||
Unclaimed dividend | - | - | ||
Trade and other payables | (554,695,319) | (717,151,066) | ||
(554,695,319) | (717,151,066) | |||
Cash generated from operations | 232,820,291 | 132,893,465 | ||
Finance cost paid | (18,304,584) | (1,156,399) | ||
Income tax paid | (176,153,157) | (105,070,133) | ||
(194,457,741) | (106,226,532) | |||
Net cash used in operating activities | 38,362,549 | 26,666,933 | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Capital expenditure on property, plant and equipment | (21,762,850) | (869,292) | ||
Security deposit | - | - | ||
Net cash (used in) / generating from investing activities | (21,762,850) | (869,292) | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||
Loan from directors | - | - | ||
Repayment of loan from directors | (600,000) | - | ||
Net cash flows generated from / (used in) financing activities | (600,000) | - | ||
Net increase / (decrease) in cash and cash equivalents | 15,999,699 | 25,797,640 | ||
Cash and cash equivalents at the beginning of the period | 18,632,810 | 31,354,447 | ||
Cash and cash equivalents at the end of the period | 34,632,509 | 57,152,087 | ||
The annexed notes from 01 to 12 form an integral part of these financial statements. | ||||
CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER