DATA
DATA AGRO LIMITED
Condensed Interim Financial Statements
For the Quarter O Nine Months Period Ended March 31, 2025 '(Un-Audited)
https://www.dataagrolimited.com
DATA AGRO LIMITED
DIRECTORS' REPORTDear Sharenolders,
On behalf of the Board of Directors, I am pleased to present the Directors' Repos along with the un-audited condensed interim financial statements of Data Agro Limited for the 3rd quarter period ended March 31, 2025.
Financial Performance
During the period under review, the company faced challenges in maintaining its revenue growth. The key financial highlights are as follows:
Mar.-2025 Mar.-2024
-Rupees in thousands-Sales | 261.656 | 276.141 |
Gross profit | 16.B79 | 77.521 |
Net profit/(loss) | (49.141) | 17.039 |
Earning/loss per share | (12.29) | 4.26 |
The results for the last nine months reflect a net loss of R5. 49.141 million compared to (Mar. 2024: profit Rs.17.039 million). Sales for the period were Rs. 261.656 million (Mar. 2024: Rs. 27d.141 million}.
The loss primarily stems from widespread pressure across the agricultural sector. The sharp decline inn wheat crop prices has adversely affected market sentiment and liquidity.
Despite the current challenges, the performance of our newly launched hybrids D-4147 and D-4382 has been very promising. These products are expected to compete strongly with other hybrids available in the m2rket.
Challenges and Outlook
The company has faced increased operational costs, inflafionary pressures, and high financial costs, which have affected profitability. However, we remain optimistic and are actively implementing cost-saving initiatives, improving operational efficiency, and exploring new revenue streams to counteract these challenges.
Looking ahead. we aim to-Strengthen our market presence through innovahon and product diversification.
-Optimize production processes to improve margins.
-Manage financial costs effectively through restructuring and finding alternative financing opfions.
dividendIn the light of the loss incurred during the period, the Board of Directors has decided not to declare any dividend for the 3'dquarter and period ended March 31, 2025.
Acknowledgment
The Board appreciates the continued trust and support of our valued shareholders, employees, customers, and business panners. We remain committed to navigating challenges and to work towards sustainable growth.
On behalf of the Board of Directors,
Faaiz Rahim Khan Chief Executive April 28, 2025
Saad Rahim Khan
Director
2024 $1
276.141J
2025 $1
261.d56J
77.521J
17.039J
4.26J
16.879J (49.141
(12.29
2025 Ji 28
DATA AGRO LIMITED
CONDENSED INTERIM STATEMENT OF FINA iCIAL POSITION (Uhi-AUDITED)
AS AT MARC£I 31, 2025
Note
Un-audited March 33,
2025
Rupees
Audited
une30, 20]4
Rupees
NON CURRENT ASSETS
117,129,144
705,850
117,d34,9'?4
Property, plant and equipment Long term deposits
E8RAENTASSETS
Stores and spares Stock ln trade Trade debts
Advances and deposit
Tax refunds due from the Government
Cash and bank balances
TOTAL ASSETS
7,251,088 | 5,646,874 | |
141,693,067 | 274,963,0S3 | |
139,739,243 | 96,30S,848 | |
8,082,338 | ||
20 i ,649 | ||
8,14a,7S4 | 9,0S0,343 |
s
394.250,105
512,085,099
5QUIT"¥'AND LIABILITIES 5HAkg EAPtYA£ AND 8ESEDVSS | |||
Authorized share capital | |||
5,000.000 ordinary shares of Rs. 10 each | 50,000,000 | S0,000.000 | |
issued, subscribed anal paid up share capital | 40,000,000 | 40.000.000 | |
Unappropriated profit | 41,811,2GB | B9,7S0,797 | |
Loan from chief'executive officer | 24,378,943 | Z4,378.943 | |
Surplus on revaluation of property, plant and equipment | 147,II10,867 | 67,923,678 | |
253,201,0Y8 | 222,053,438 | ||
NON CURRENT LIABILITIES | |||
Deferrect liabilities | S7,3flZ,128 | 30,649,782 | |
CURRENT LIABILITIES | |||
Trade and other payables | |||
Contract liabilities | |||
Accrued ma rkiip | |||
Shnrt term borrowings | |||
Provision for tawtion | |||
285,8t7,469 | 259,381,949 | ||
CONTINGBNCTBS AND COI¥IMfTMENTS | |||
596,400,675 | S1Z,08S,099 | ||
11,696,233 | 11,v95,703 |
2,667.028 | |
7,299,t9S | 13,730,366 |
259,440,4Y3 | 228,421,406 |
2,7tZ,346 | 2,°i67.446 |
CI4IEF EXECUTIVE
CHIEF FINANCIAL OFFICER
DIRECTOR
DATA AGRO MMITED
CONDENSED 1XTERJM S'£AT£ fEXT OF PROFIT OR LOSS (UN-AVD2T£D)
POR THE QUARTER AND NINE IMONTHS PERIOD ENDED MARCH 31, 2025
(7.073,338) | 2,374,309} (7,7S1,659) | f1O,283,309] {23,002,443} (222,259) | (8,940,450) (18,697.340) |
Quarter Ended Nine Months Period Bnded
01-01-2025 To 31-03-2025 | 0t-0t-2024 To 31-03-2024 | March 3G, 2025 | March 3t, 2024 | |||
Rupees | Rupees | Rupees | Rupees | |||
Revenue - net | 75,203,560 | fi5,00l,989 | 26t,G56,625 | 276,t4t,818 | ||
Cost of sales | (85,71B,273) | (28,626,303) | (244,776,708} | (198,82O2BS] | ||
Gross prefit | (t0,514,7t3) | S6,37S,686 | t6,879,9fiB | 7?,fi2l533 | ||
Operstlng expenses | ||||||
Dfstrjbution cost | ||||||
Administrative expenses Other operating expenses | ||||||
(IO.193,03d) | (10, t2S,969) | (33,508.011) | (27,637,790) | |||
(Loss)/profit from operations | [20,707,'751) | 46.249,717 | (t6,628,094) | 49,883,743 | ||
Finance cost | [8,03B,tO7) | (14, t39,871) | (JJ,202#46) | (33,935.997) | ||
Other income | 2076,278 | 3.456,556 | 2,07&578 | 5,233,598 | ||
Loss before levy and Income tax | (26.669.580) | 35,566,403 | ||||
940,045 | 1,752,879 | 3,270,708 | 4,142,127 | |||
Loas before Income taz | (27,609,625) | 33,B} 9,574 | {5t,024.940) | 17,n39.217 | ||
Income tax | [1,104,0B7) | [1,883.076} | ||||
Loss for the period | S3,8l3,523 | t7,fI39,216 | ||||
Loss per share - basic and diluted | 8.45 | [12.29} | 1.26 |
The annexed notes form an integral part of these condensed interim financial statements.
CHiEF EXECUTIVE CHIEF FINANCIAL OFFICER DIRECTOR
DATA AGRO LMfTED
COhiDENSED 1hlTER1M 8TATEMEhiT OF COMPREHENSIVE INCOME (UO-AUDITED)
FOR THE QUARTER AND NInE MONTHS PERIOD ENDEO MARCH 31, 2025
Quarter Ended Nlne Months Period Ended
01•01•2025 01•01•2024 March 3t, March 3t, To To 2025 2024
Rupees Rupees Rupees Rupees
(26,50S,S38) 33.Bl3,S23 (49,14fi,fl64) 17,039,2 t6
Other comprehensive income/(loss]:
Items that will not be reclassified subsequently to statement of profit or loss:
Remeasui enienL of employees retirement benefit Related deFewed tax
Surplus arise on revaluation of property, plant and equiprrlent
(2,827,0t2) 819,B33 (2,007,179)
105,540,693
[23,243,991)
82,296,702
[2.827,0t2)
- B19,833 -
[2,00Y,1Y9)
105,540,693
- (23,243,991) -82.29r›,702
Totsl comprehensive income/(loss} for the period
53,7B3,9B6 33,6I3,S23 31,14'7,660 17,030,2 16
The annexed notes form an integral part of these condensed interim financial statements.
CHl£f EXfCUTl VE CHIEF FlNAN CIAL OFFICER DIRECTOR
DATA AGRO LIMITED
COtiDE iSED INTERJi¥i STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE NINE MOHTH8 PERIOD EHDED MARCH 31, 2025
(1,a04,214) | 8,292,0B1} |
133,2G9,986 | (tO6,816,926) |
(43,a3S,044) | [18,488,261) |
(73,53fi,561) | (15,976,297) |
(t,793,590) | |
2,00Z,194 |
Nine months Pertod Ended
2025 | 2024 | ||||
Rupees | Rupees | ||||
a) | MSfI FLOWS FROlg OPERAI'tXG ACTIVITIES | ||||
Loss befbre levy and Income tax | (47,754,232} | 21,181,344 | |||
Depreciation on operating flxed asset | 7,896,70t | ||||
Gain on disposal of operating fixed asset | (2,076,278) | (1,317,957) | |||
Finance cost | 38,202,416 | 33,935,997 | |||
Balance written off | Z01,644 | ||||
Staff retirement gratuity | 3,364,302 | 2,S92,Z19 | |||
Operatlng cash news befnre wnrklng capital changes | (S,2G4,DST) | 64,28B,304 | |||
Changes In worklng capital | |||||
(E0ctaase)/decrease iO current assets | |||||
States and spares | |||||
Stock in trade | |||||
Trade debts | |||||
Advances and deposit | |||||
Iocreace/[decrease} io carreat fiabiJtttes | |||||
Trade and other payables | |||||
Contract liabilities | |||||
16,184,477 | (1S1,367,1SS) | ||||
Cash generated frnwiJ(uaed in) operatlnns | 10,920,4Z 1 | (87,07B,B5I) | |||
Finance cost paid | [39,621,172} | (23,423,598} | |||
Workers' profit participation fund paid | [679,957] | ||||
Workers' welfare fund paid Income tax and levy paid | (2,924,189] | (341,077] {5,292,026) | |||
Set cash used ln operating actfvldes | (3t,624.9t1} | {t16615,509) | |||
b) | CASH FLOWS FROM II4VESTI iG ACTIVITIES | ||||
Addition in property, plant and equipment | (2,445,745] | (10,834,5 1D) | |||
Proceeds from disposal of property, plant and equipment | 2,150,000 | 1.400,000 | |||
i4et cash used in investing activities | (29S,745) | (9,434,51D] | |||
cJ | c sir crows re.oM FIi4ai4CIHG ACTIYITIES | ||||
Short term borrowings | 31,019,D67 | tZ4,103,D92 | |||
hlet ash generated tram Rnanclog activides | 31,029,067 | 12t,103,092 | |||
idet Increase In cash and cash equivalents | (a+b+c) | (2,146,9Z7) | |||
Cash and cash equivalents at the beginning of the period | 9,825,785 | ||||
Caab and cash equivalents at the end nf the perind | 8,148,754 | 7,67B,B58 | |||
The annexed notes Form an integral part of these condensed interim financial sLatements.
CtIlEF EXECUTIVE CBIyF FINAXCtAI, OFFICER DIRECTO£L
DATA AGRO LIiYtITED
Surplus on | ||
Loan rrom chief | Uztappropriated | revaluaoon of |
execuave officer | profit | property, plant atid |
equipment | ||
CONDENSED INTERIM STATEMENT OP CHAhlGE5 LN EQUITY (UN-AUDITED) FOR TFI£ NONE MONTHS PERIOD GNDED MARCH 31, 2025
Share capital
{ R u p e e o ]
Balaace as at )uIy 01, 2023
Loss for tile period
Other comprehensive income for the year
Total comprehensive loss for the period
40,000,000
24,378,943
76,034,320
17,039.216
t7,039,216
17,039.2tfi
72,678,510
2t3,091,773
t7,039,2 t6
Incremental depreciation on revalued property, plant and equipment Related deferred tax on incrementai depreciation
1,891,625
(1,891,625)
1,891,625
(t,891,625)
Balance as at March 3t, 2024 Balance as at fuly 1, 20Z4
Loss for the period
Other cnmgreftensive loss for1e yeriod Total comprehensive loss for the pertod
Surplus anse on revaluation of property, plant anlt equipment Related deferred tax
Incremental depreclation on revalued property, plant and equipment
Related deferred tax on Incremental depreriatien
Balance as at March 3t, 2025
40,000,000
40.000.000
24,378,943
24,37B,944
94,965,t 6t
B8.750.797 (49, t41,864)
(2,007.t79)
10S,S40,693
(23,243,991) (23,243,991]
(S4,t49,043)
40.000,000
24.37B,943
t47,010.B67
4,4Z&429
{4,438,429)
tJ,22&916)
309513
70,786,8g5
82,296,702
[3,209,513)
230,t30.989
z22.0S3,t18
(2.007,179)
(54,169,043]
82,296,702
The annexed notes f•nn ari integral part ef these condensed interim financial statements,
CHIB£ EXECUTIVE
CHIEF FINANCIAL OFFICER
DIRI2CTOR
DATA AGRO LIiYlITED
NOTES TO THE CONDENSED INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025-
LEGAL STATUS AND OPERATIONS
Data Agro Limited ("the Company") was initially incorporated as a private limited company in Pakistan under the repealed Companies Ordinance, 1984 (now the Companies Act, 2017) on November 10, 1992. The Company was converted into public limited company on March 06, 1994 and is listed on Pakistan Stock Exchange limited. The principal business activity
»r the Company is to carry on business »r production, processing, gin ning, harvesting, threshing, hybridization, activation, germinatinn, delinting, fumlgation, pest protection, coating, sorting or grading of all varities of seeds, grains, dried ligumin ous and all agricultural crops. The registered office of the Company is Situatued at The Polo Res idence, opposite Allama lqbal International Airpoi t, adjacent sector A, phase 8, DHA, Lahore and principal place of business is Situated nt 8-Km khanewal road, Kab irwala.
STATEMENT OF COMPLIAfiCE
These condensed interim financial statements have been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of:
lnternafional Accounting Standard ('IAS') 34, 'Interim Financial Reporting', issued by International Accounting Standards Board ('IASB') as notified under the Companies Act, 2D17, and
- Provisions of and directives issued under the Companies Act, 2017.
Where provisions of and directives issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 20t7 have been followed.
These condensed interim financial statements do not include all the information as required for full financial statements and should therefore be read in en njunction with the financial statements ror the year ended June 30, 2024.
(a) Standards, interpretatinn and amendments tn published apprnved accounting standards that are effective but not relevant
The other new standards, amendments and Interpretations that are mandatory for accounting periods beginning art or after )anuary 1, 2021 are considered no to be relevant for the Company's financial slatements and hence have been detailed here.
31-Mar-2025 | 30-Jun-2024 | ||
Raw Material | 105,24B,093 | 218,427,038 | |
Finish Goods | 36,444,974 | 56,536,015 | |
141,693,067 | 274,963,053 | ||
5 Trade Debtors Considered good: | |||
Local - unsecured | 139,994,7 53 | 96,561,3SB |
Provisi » r»r expected credit losses
(255,510)
139,739,243
(255,S10)
96,305,848
5.1 Provision fur expected credit losses
Opening balance | 255,510 | 685,679 |
For the period provision | 201,649 | 257,159 |
Balances Written Off during the period | (201,649) | (6B7,328) |
Closing balance | Z5S,510 | 2S5,510 |
6 Cash and Bank Balances | ||
Cash in hand | 1,802,00 0 | I,S08,329 |
Cash at banks | ||
- In current accounts | 6,266,754 | 7,542,014 |
8,I48,7S4 | 9,050,343 | |
7 Issued, Subscribed and paid up Capital 4,000,000 ordinary shares of Rs. 10/- each fully paid | 40,000,000 | 40,000,000 |
8 Date of authorization for issue
These financial statements were authorised for issue on April 28. 2025 by the Board of Directors.
9. General
Figures have been rounded off to the nearest rupee unless otherwise stated.
CHIEF EXECUTIVE CHlEfi FlhiANC IAL OFFICER DIRECTOR