Cordoba Logistics & Ventures Limited | |||
Consolidated Condensed Interim Statement of Financial Position | |||
As At December 31, 2024 | (Unaudited) | (Audited) | |
31-Dec-24 | 30-Jun-24 | ||
Assets | Note | (-------Rupees-------) | |
Non-current assets | |||
Property and equipment | 4 | ||
Long term finances | 5 | 65,820,348 | 19,042,670 |
Long term investments | 6 | 119,719,029 | 121,509,672 |
Net investment in finance lease | 7 | ||
Current maturity of net investment in finance lease | (208,622,072) | (97,667,440) | |
Allowance for potential lease losses | (3,653,414) | (3,653,414) | |
Long term deposits | 50,000 | 50,000 | |
Current assets | 1,157,531,471 | 1,018,702,538 | |
Short term finances | 8 | ||
Trade debts | 9 | 29,450,654 | 21,996,448 |
Short term advances, deposits, prepayments and | |||
other receivables | 10 | 147,612,110 | 79,658,941 |
Current maturity of non-current assets | 244,747,472 | 144,268,392 | |
Short term Investment | 47,372 | 16,969,134 | |
Cash and bank balances | 2,674,261 | 86,693,229 | |
Total assets | 1,806,221,612 | 1,428,833,860 | |
Equity and liabilities | |||
Authorized share capital | |||
100,000,000 (2024: 100,000,000) ordinary | 1,000,000,000 | 1,000,000,000 | |
shares of Rs. 10/- each | |||
Issued, subscribed and paid-up share capital | 721,052,000 | 721,052,000 | |
Accumulated profit/(loss) | 16,406,748 | (64,781,287) | |
Non-current liabilities | 737,458,748 | ||
Long term loan | 11 | ||
Deferred tax | 9,001,349 | 6,671,723 | |
Gratuity payable | 840,000 | 630,000 | |
Current liabilities | 514,056,349 | ||
Short-term borrowings | 12 | ||
Trade and other payables | 13 | 295,384,947 | 215,540,325 |
Advance against share capital | 14 | 150,000,000 | - |
Advance from customer | 2,926,803 | 5,686,804 | |
Unclaimed dividend | 415,333 | 415,333 | |
Taxation - net | 9,205,008 | 14,403,963 | |
554,706,515 | 236,046,425 |
Contingencies and commitments
Total equity and liabilities
The annexed notes form an integral part of these consolidated financial statements.
Chief Executive Officer | Chief Financial Officer | Director |
Cordoba Logistics & Ventures Limited
Consolidated Condensed Interim Statement of Profit or Loss
And Other Comprehensive Income (Unaudited)
For The Half Year Ended December 31, 2024
Half year ended | Quarter ended | ||||
December 31, | December 31, | ||||
2024 | 2023 | 2024 | 2023 | ||
Note | (-------Rupees-------) | (-------Rupees-------) | |||
Revenue | 15 | 275,678,533 | 165,107,146 | 119,144,180 | 91,798,168 |
Direct cost | 16 | (105,464,698) | (68,312,097) | (51,460,913) | (38,944,204) |
Gross profit | |||||
Administrative expenses | (20,713,341) | (9,629,325) | (9,794,691) | (5,908,006) | |
Operating profit | 149,500,494 | 87,165,724 | 57,888,576 | 46,945,958 | |
Share of profit/(loss) from associate | (1,790,643) | (274,581) | (647,509) | 483,845 | |
Other income | 17 | 6,767,858 | 3,220,633 | 3,750,192 | 2,029,437 |
Finance cost | 18 | (53,515,511) | (41,223,813) | (25,954,076) | (23,036,683) |
Profit before provision and taxation | |||||
Provision for potential lease and other loan losses | - | - | 8,047,244 | - | |
Profit before taxation | |||||
Taxation | (19,774,164) | (5,032,130) | (2,632,673) | (2,168,761) | |
Profit after taxation | 81,188,035 | 43,855,833 | 40,451,754 | 24,253,796 | |
Profit attributable to: | |||||
Owners of the holding company | 81,188,035 | 43,855,833 | 40,451,754 | 24,253,796 | |
Non-controlling interest | - | - | - | - | |
81,188,035 | 43,855,833 | 40,451,754 | 24,253,796 | ||
Other comprehensive income | - | - | - | - | |
Total comprehensive income | |||||
Earning per share - Basic & diluted (Rs.) | 1.13 | 0.61 | 0.56 | 0.34 |
The annexed notes form an integral part of these consolidated financial statements.
Chief Executive Officer | Chief Financial Officer | Director |
Cordoba Logistics & Ventures Limited
Consolidated Interim Statement of Changes in Equity For the Half year ended December 31, 2024
Issued
subscribed and paid-up capital
Accumulated Total Loss
(-------Rupees-------)
Balance as at June 30, 2023 | 721,052,000 | (180,182,076) | 540,869,924 |
Profit after taxation | - | 115,400,789 | 115,400,789 |
Other comprehensive income | - | - | - |
Total comprehensive income | - | 115,400,789 | 115,400,789 |
Balance as at June 30, 2024 | |||
Profit after taxation | - | 81,188,035 | 81,188,035 |
Other comprehensive income | - | - | - |
Total comprehensive income | - | 81,188,035 | 81,188,035 |
Balance as at December 31, 2024
The annexed notes form an integral part of these consolidated financial statements.
Chief Executive Officer | Chief Financial Officer | Director |
Cordoba Logistics & Ventures Limited
Consolidated Interim Statement of Cash Flows
For the Half year ended December 31, 2024
Dec 31, | Dec 31, | ||
2024 | 2023 | ||
CASH FLOWS FROM OPERATING ACTIVITIES | (-------Rupees-------) | ||
Profit before taxation | 100,962,199 | 48,887,963 | |
Adjustments for non cash items: | |||
- | Depreciation | 96,744,186 | 59,717,168 |
- | Gratuity | 210,000 | 210,000 |
- (Gain)/loss on disposal of property, plant and equipment | 348,780 | - | |
- Share of loss from associate | 1,790,643 | 274,581 | |
- | Finance cost | 53,515,511 | 41,223,813 |
Operating Profit/(loss) before working capital changes | |||
Changes in working capital | |||
(Increase) / decrease in current assets | |||
- | Short term finance | (264,092,173) | - |
- | Trade debts | (7,454,206) | (5,089,402) |
- Advances, deposits, prepayments and other receivables | (67,953,169) | (17,201,814) | |
(339,499,548) | (22,291,216) | ||
Increase / (decrease) in current liabilities | |||
- Trade and other payables | 26,558,072 | (4,857,963) | |
- | Advance from customers | (2,760,000) | - |
Cash generated from / (used in) operations | (62,130,159) | 123,164,346 | |
- | Finance cost paid | (228,993) | (4,635) |
- | Income tax paid | (22,643,461) | (3,775,850) |
Net cash generated from / used in operating activities | |||
CASH FLOWS FROM INVESTING ACTIVITIES | |||
- | Term finance/Investments | (46,777,678) | (9,814,780) |
- Investment in finance lease | 59,452,998 | (90,643,727) | |
- Acquisition of property and equipment | (250,387,862) | (207,550,000) | |
- | Investments made | 16,921,762 | (2,499,999) |
Net cash (used in) investing activities | |||
CASH FLOWS FROM FINANCING ACTIVITIES | |||
- | Short term loans | 96,774,425 | - |
- Advance against share capital | 150,000,000 | - | |
- | Sponsor's loan | (25,000,000) | 189,000,000 |
Net cash generated from financing activities | |||
Net (Decrease)/Increase in cash and cash equivalents | (84,018,968) | (2,124,645) | |
Cash and cash equivalents at the beginning of the period | 86,693,229 | 6,535,453 | |
Cash and cash equivalents at the end of the period | 2,674,261 | 4,410,807 |
The annexed notes form an integral part of these consolidated financial statements.
Chief Executive Officer | Chief Financial Officer | Director |