CHENAB LIMITED
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED)
FOR THE HALF YEAR ENDED DECEMBER 31, 2024
Quarter ended December 31,
Half year ended December 31,
2024
Note Rupees
Sales | 8 | 508,387,624 |
Cost of sales | 9 | 550,536,655 |
Gross (loss) | (42,149,031) | |
Other income | 10 | 55,982,341 |
13,833,310 |
Operating expenses
2023
Rupees
(Restated)
791,043,147
861,814,227
(70,771,080)
142,024,145
71,253,065
2024
Rupees
1,425,633,055
1,455,158,760
(29,525,705)
130,305,192
100,779,487
2023
Rupees
(Restated)
1,579,581,066
1,626,552,188
(46,971,122)
234,628,852
187,657,730
Selling and distribution expenses | |
Administrative expenses | |
Finance cost | 11 |
39,305,414
86,740,705
55,773,232
(181,819,351)
22,639,096
87,849,528
59,286,179
(169,774,803)
99,455,851
156,497,822
114,043,525
(369,997,198)
51,555,774
146,667,811
125,104,122
(323,327,707)
(Loss) for the period before levies and income tax
(167,986,041)
(98,521,738)
(269,217,711) (135,669,977)
Levies | 12 | 8,050,935 | 10,250,162 | |
(Loss) before taxation | (176,036,976) | (108,771,900) | ||
Provision for taxation | 13 | 1,559,194 | - | |
(Loss) for the period | ||||
(177,596,170) | (108,771,900) | |||
(Loss) per share- Basic and diluted | (1.54) | (0.95) | ||
18,636,898 18,135,541
(287,854,609) (153,805,518)
1,559,194-
(289,413,803) (153,805,518)
(2.52)(1.34)
The annexed notes from 1 to 17 form an integral part of these financial statements.
(MUHAMMAD NAEEM) | (MUHAMMAD FAISAL LATIF) | (SADAQUAT HUSSAIN) |
CHIEF EXECUTIVE OFFICER | DIRECTOR | CHIEF FINANCIAL OFFICER |
CHENAB LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED) AS AT DECEMBER 31, 2024
Note
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Authorised capital
120,000,000 ordinary shares of Rs.10/- each
80,000,000 cumulative preference shares of Rs.10/- each
Issued, subscribed and paid up capital
Cumulative preference shares
Directors' loan
Surplus on revaluation of property, plant and equipment
Capital reserves
Revenue reserves
NON-CURRENT LIABILITIES
Long term financing
4
Deferred revenue Deferred interest / markup Liabilities against redemption
of preference shares Deferred liabilities
(Un-audited)
December 31,
2024
Rupees
1,200,000,000
800,000,000
1,150,000,000
500,000,000
1,053,213,086
4,847,243,391
526,409,752
(8,323,543,598)
(246,677,369)
7,848,812,788
54,261,131
661,688,382
300,000,000
63,341,257
8,928,103,558
(Audited) | ||
June 30, | ||
2024 | ||
Rupees | Note | |
ASSETS | ||
NON-CURRENT ASSETS | ||
Property, plant and equipment | ||
Operating assets | 7 | |
Investment Property | ||
Long term deposits | ||
1,200,000,000 | ||
800,000,000 |
1,150,000,000
500,000,000
1,053,213,086
4,881,532,753
526,409,752
(8,068,419,157)
42,736,434
8,079,014,160
54,883,483
576,692,432
300,000,000
50,315,583
9,060,905,658
(Un-audited)
December 31,
2024
Rupees
9,025,897,941
486,592,001
13,418,150
9,525,908,092
(Audited) June 30, 2024 Rupees
9,076,879,986
491,733,640
13,418,150
9,582,031,776
CURRENT LIABILITIES
Trade and other payables
Unclaimed dividend
Interest / markup payable
Short term bank borrowings
5
Current portion of long term financing
4
Provision for taxation - income tax
13
CONTINGENCIES | 6 |
1,322,223,161
366,071
5,271,800
226,100,000
256,234,751
-
1,810,195,783
-
10,491,621,972
1,448,751,213
366,071
6,712,537
284,000,000
75,226,124
-
1,815,055,945
-
10,918,698,037
CURRENT ASSETS
Stores, spares and loose tools Stock in trade
Trade debts
Loans and advances
Deposits and prepayments
Other receivables
Tax refunds due from Government Cash and bank balances
134,704,208
241,681,073
216,059,029
180,413,077
29,935,156
15,869,859
86,535,123
60,516,355
965,713,880
10,491,621,972
145,942,209
252,453,190
523,146,574
203,374,310
38,263,514
12,993,174
79,076,602
81,416,688
1,336,666,261
10,918,698,037
The annexed notes from 1 to 17 form an integral part of these financial statements.
(MUHAMMAD NAEEM) | (MUHAMMAD FAISAL LATIF) | (SADAQUAT HUSSAIN) |
CHIEF EXECUTIVE OFFICER | DIRECTOR | CHIEF FINANCIAL OFFICER |
CHENAB LIMITED
CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED)
FOR THE HALF YEAR ENDED DECEMBER 31, 2024
Half year ended December 31,
20242023
RupeesRupees
a) CASH FLOWS FROM OPERATING ACTIVITIES | |||
(Loss) for the period before Levies and income tax | (269,217,711) | (135,669,977) | |
Adjustments for: | |||
Depreciation of operating assets | 87,478,510 | 110,127,697 | |
Depreciation of investment property | 5,141,639 | 5,355,873 | |
Provision for staff retirement gratuity | 13,025,674 | 7,058,070 | |
Gain on disposal of operating assets | (907,577) | (3,632,200) | |
Gain on disposal of non current assets held for sale | - | (132,002,457) | |
Finance cost | 114,043,525 | 125,104,122 | |
Balances written back - net | (114,139,279) | (70,138,868) | |
Fair value adjustment of deferred revenue | (622,352) | (545,588) | |
Operating cash flows before working capital changes | (165,197,571) | (94,343,328) | |
Changes in working capital | |||
(Increase) / decrease in current assets | |||
Stores, spares and loose tools | 11,238,001 | (62,963,263) | |
Stock in trade | 10,772,117 | (45,447,088) | |
Trade debts | 307,087,545 | (48,058,015) | |
Loans and advances | 2,543,279 | (67,553,824) | |
Deposits | (7,730,703) | (14,835,139) | |
Other receivables | (2,876,685) | (343,856) | |
Tax refunds due from Government | 19,709,076 | 47,525,737 | |
340,742,630 | (191,675,448) | ||
Increase in current liabilities | |||
Trade and other payables | 18,179,407 | 89,560,873 | |
358,922,037 | (102,114,575) | ||
Cash generated from / (used in) operations | 193,724,466 | (196,457,903) | |
Income tax and levies paid | (28,454,854) | (38,275,937) | |
Finance cost paid | (29,865,960) | (23,296,287) | |
Net cash generated from / (used in) operating activities | 135,403,652 | (258,030,127) |
Half year ended December 31,
2024 | 2023 | ||
Rupees | Rupees | ||
b) CASH FLOWS FROM INVESTING ACTIVITIES | |||
Additions in operating assets | (36,508,888) | (95,710,601) | |
Proceeds from disposal of operating assets | 920,000 | 1,467,600 | |
Proceeds from disposal of non current assets held for sale | (13,000,000) | 380,000,000 | |
Net cash (used in) / generated from investing activities | (48,588,888) | 285,756,999 | |
- CASH FLOWS FROM FINANCING ACTIVITIES
Receipt of loan from directors | - | 226,500,000 | |
Repayment of : | |||
Long term financing | (49,815,097) | (321,908,137) | |
(Decrease) / Increase in short term bank borrowings | (57,900,000) | 70,000,000 | |
Net cash (used in) financing activities | (107,715,097) | (25,408,137) | |
Net (decrease) / increase in cash and cash equivalents (a+b+c) | (20,900,333) | 2,318,735 | |
Cash and cash equivalents at the beginning of the period | 81,416,688 | 72,439,992 | |
Cash and cash equivalents at the end of the period | 60,516,355 | 74,758,727 | |
The annexed notes from 1 to 17 form an integral part of these financial statements.
(MUHAMMAD NAEEM) | (MUHAMMAD FAISAL LATIF) | (SADAQUAT HUSSAIN) |
CHIEF EXECUTIVE OFFICER | DIRECTOR | CHIEF FINANCIAL OFFICER |
Balance as at July 01, 2023 (Audited)
Total comprehensive (loss) for the period
(Loss) for the period
Other comprehensive income
Items that may not be subsequently reclassified to profit or loss:
Incremental depreciation on revalued assets for the period
Surplus realised on disposal of property, plant and equipment
Transaction with owners
Loan from director
Balance as at December 31, 2023 (Unaudited)
Total comprehensive (loss) for the period
(Loss) for the period
Other comprehensive income
Items that may not be subsequently reclassified to profit or loss:
Remeasurement of defined benefit liability
Incremental depreciation on revalued assets for the period
Surplus realised on disposal of property, plant and equipment
Balance as at June 30, 2024 (Audited)
Total comprehensive (loss) for the period
(Loss) for the period
Other comprehensive income
Items that may not be subsequently reclassified to profit or loss:
Incremental depreciation on revalued assets for the period
Balance as at December 31, 2024 (Unaudited)
CHENAB LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE HALF YEAR ENDED DECEMBER 31, 2024
Capital reserves | Revenue reserves | |||||||||||||||||||||
Issued, | Cumulative | Surplus on | Book difference of | Preference | ||||||||||||||||||
subscribed and | Director's loan | Premium on issue | capital under scheme | shares | Accumulated | Total | ||||||||||||||||
preference shares | property, plant | Sub total | General reserve | Sub total | ||||||||||||||||||
paid up capital | of ordinary shares | of arrangement for | redemption | loss | ||||||||||||||||||
and equipment | amalgamation | reserve | ||||||||||||||||||||
------------------------------------------------------------------------------------------------------ | R u p e e s --------------------------------------------------------------------------------------- | |||||||||||||||||||||
1,150,000,000 | 500,000,000 | 826,713,086 | 5,167,585,126 | 120,000,000 | 63,552,610 | 342,857,142 | 526,409,752 | 76,432,834 | (8,102,788,103) | (8,026,355,269) | 144,352,695 | |||||||||||
- | - | - | - | - | - | - | - | - | (153,805,518) | (153,805,518) | (153,805,518) | |||||||||||
- | - | - | - | - | - | - | - | - | (153,805,518) | (153,805,518) | (153,805,518) | |||||||||||
- | - | - | (33,130,654) | - | - | - | - | - | 33,130,654 | 33,130,654 | - | |||||||||||
- | - | - | (103,908,903) | - | - | - | - | - | 103,908,903 | 103,908,903 | - | |||||||||||
- | - | 226,500,000 | - | - | - | - | - | - | - | - | 226,500,000 | |||||||||||
1,150,000,000 | 500,000,000 | 1,053,213,086 | 5,030,545,569 | 120,000,000 | 63,552,610 | 342,857,142 | 526,409,752 | 76,432,834 | (8,119,554,064) | (8,043,121,230) | 217,047,177 | |||||||||||
- | - | - | - | - | - | - | - | (172,403,869) | (172,403,869) | (172,403,869) | ||||||||||||
- | - | - | - | - | - | - | - | - | (1,906,874) | (1,906,874) | (1,906,874) | |||||||||||
- | - | - | - | - | - | - | (174,310,743) | (174,310,743) | (174,310,743) | |||||||||||||
- | - | - | (31,239,479) | - | - | - | - | - | 31,239,479 | 31,239,479 | - | |||||||||||
- | - | - | (117,773,337) | - | - | - | - | - | 117,773,337 | 117,773,337 | - | |||||||||||
1,150,000,000 | 500,000,000 | 1,053,213,086 | 4,881,532,753 | 120,000,000 | 63,552,610 | 342,857,142 | 526,409,752 | 76,432,834 | (8,144,851,991) | (8,068,419,157) | 42,736,434 | |||||||||||
- | - | - | - | - | - | - | - | - | (289,413,803) | (289,413,803) | (289,413,803) | |||||||||||
- | - | - | - | - | - | - | - | - | (289,413,803) | (289,413,803) | (289,413,803) | |||||||||||
- | - | - | (34,289,362) | - | - | - | - | - | 34,289,362 | 34,289,362 | - | |||||||||||
1,150,000,000 | 500,000,000 | 1,053,213,086 | 4,847,243,391 | 120,000,000 | 63,552,610 | 342,857,142 | 526,409,752 | 76,432,834 | (8,399,976,432) | (8,323,543,598) | (246,677,369) |
The annexed notes from 1 to 17 form an integral part of these financial statements.
(MUHAMMAD NAEEM) | (MUHAMMAD FAISAL LATIF) | (SADAQUAT HUSSAIN) |
CHIEF EXECUTIVE OFFICER | DIRECTOR | CHIEF FINANCIAL OFFICER |