CONDENSED INTERIM |
FINANCIAL INFORMATION |
FOR THE HALF YEAR ENDED |
31 DECEMBER 2024 |
(UN-AUDITED) |
GOC (PAK) LIMITED
CONDENSED INTERIM FINANCIAL INFORMATION
C O N T E N T S
02
CORPORATE INFORMATION
03 DIRECTORS' REPORT
05 INDEPENDENT AUDITORS' REVIEW REPORT
06 CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
07
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS
08
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME
09
CONDENSED INTERIM STATEMENT OF CASH FLOWS
10
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY
11
SELECTED NOTES TO THE CONDENSED INTERIM FINANCIAL INFORMATION
18
JAMA PUNJI
GOC (PAK) LIMITED
CONDENSED INTERIM FINANCIAL INFORMATION
BOARD OF DIRECTORS | Mr. Khawar Anwar Khawaja (Chief Executive) | |
Mr. Khurram Anwar Khawaja (Chairman) | ||
Mr. Muhammad Tahir Butt | ||
Mr. Ameer Khawar Khawaja | ||
Mr. Omer Khawar Khawaja | ||
Mrs. Nuzhat Khawar Khawaja | ||
Dr. Aamir Matin | ||
Syed Zahoor Hassan | ||
AUDIT COMMITTEE | Syed Zahoor Hassan | |
Mr. Khurram Anwar Khawaja | ||
Mr. Omer Khawar Khawaja | ||
HUMAN RESOURCE AND | ||
REMUNERATION COMMITTEE | Syed Zahoor Hassan | |
Mr. Khawar Anwar Khawaja | ||
Mr. Khurram Anwar Khawaja | ||
CORPORATE SECRETARY / CFO | Arfan Shahzad | |
HEAD OF INTERNAL AUDIT | Asif Asghar | |
AUDITORS | HLB Ijaz Tabussum & Company | |
Chartered Accountants | ||
Office # 1, 3rd Floor, Madina Heights | ||
87-E, Maulana Shaukat Ali Road | ||
Johar Town, Lahore - Pakistan | ||
Phone: (042) 35173258, 35173260 | ||
E-mail: matabussum@yahoo.com | ||
REGISTERED OFFICE | Small Industries Estate | |
AND WORKS | Sialkot 4, Pakistan | |
Phone: (052) 3555338-3563051-3563052 | ||
Fax: | (052) 3551252 | |
E-mail: info@gocpak.com | ||
Website: www.gocpak.com | ||
SHARE REGISTRARS | CorpTec Associates (Pvt) Limited | |
Share Registrar & Corporate Consultants | ||
503-E, Johar Town, Lahore | ||
Phone: (042) 35170336-7 | ||
Fax: | (042) 35170338 |
02
GOC (PAK) LIMITED
CONDENSED INTERIM FINANCIAL INFORMATION
DIRECTORS' REPORT
It gives me great pleasure to present, on behalf of the Board of Directors, the condensed interim financial information (un-audited) for the quarter and half year ended 31 December 2024 together with the review report of the statutory auditors.
The sales for the half year have decreased by 24.27% to Rupees 188.599 million as against Rupees 249.046 million for the corresponding period. Company earned gross profit of Rupees 56.681 million as compared to Rupees 78.259 million for the corresponding period. Earnings per share was Rupees 1.51 as compared to Rupees
4.15 for the corresponding period. There is decreasing trend in the wooden hockey sticks, composites hockey sticks and cricket balls and increasing trend in other products. There is a significant increase in the sale of cricket balls in locally. In future we expect the same trend in exports and local sales.
The share of profit of associated company, Grays Leasing Limited, was recorded at Rupees 1.494 million against Rupees 1.874 million for the corresponding period.
The Company has continued to focus on reassessing the changing needs of the markets and investing in product quality and innovation.
Keeping in view the present market situation the directors are satisfied with the results and express their commitment and are confident of further improvements in the business of the company.
The Board places on record its profound gratitude for its valued shareholders and customers, whose cooperation, continued support and patronage have enabled the company to strive for constant improvement. During the period under review, relations between the management and employees remained cordial and we wish to place on record our appreciation for the dedication, perseverance and diligence of the staff and workers of the company.
ON BEHALF OF THE BOARD OF DIRECTORS | ||
Sialkot: 26 February 2025 | (Khawar Anwar Khawaja) | (Muhammad Tahir Butt) |
Chief Executive Officer | Director |
03
GOC (PAK) LIMITED
CONDENSED INTERIM FINANCIAL INFORMATION
04
GOC (PAK) LIMITED
CONDENSED INTERIM FINANCIAL INFORMATION
05
GOC (PAK) LIMITED
CONDENSED INTERIM FINANCIAL INFORMATION
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
Note | |
NON-CURRENT ASSETS | |
Property, plant and equipment | 4 |
Long term investments | 5 |
Long term deposits
CURRENT ASSETS
Stores, spare parts and loose tools
Stock in trade
Trade debts
Advances
Short term investment
Advance income tax - net
Trade deposits and short term prepayments
Other receivables
Cash and bank balances
CURRENT LIABILITIES
Trade and other payables
Unclaimed dividend
NET ASSETS
REPRESENTED BY:
Share capital and reserves
Authorized share capital
10,000,000 (30 June 2024: 10,000,000) ordinary shares of Rupees 10 each
Issued, subscribed and paid up share capital
7,349,341 (30 June 2024: 7,349,341) ordinary shares of Rupees 10 each
Reserves
Total equity
Un-audited
31 December
2024
Rupees
162,457,451
28,342,795
2,012,252
192,812,498
6,185,105
286,287,173
51,615,350
25,914,132
119,793,314
13,230,912
3,113,534
18,278,356
30,378,844
548,611,615
77,537,765
1,488,946
79,026,711
662,397,402
100,000,000
73,493,410
588,903,992
662,397,402
Audited
30 June 2024
Rupees
168,935,344
26,873,734
1,185,084
196,994,162
6,422,280
220,944,277
79,064,527
28,435,317
132,882,779
10,461,157
1,002,540
18,150,216
60,585,088
557,948,181
87,687,183
1,250,712
88,937,895
666,004,448
100,000,000
73,493,410
592,511,038
666,004,448
Contingencies and commitments | 6 |
The annexed notes form an integral part of these condensed interim financial statements.
KHAWAR ANWAR KHAWAJA | ARFAN SHAHZAD | MUHAMMAD TAHIR BUTT |
CHIEF EXECUTIVE | CHIEF FINANCIAL OFFICER | DIRECTOR |
06
GOC (PAK) LIMITED
CONDENSED INTERIM FINANCIAL INFORMATION
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE HALF YEAR ENDED 31 DECEMBER 2024
Half Year Ended
Quarter Ended
Note
SALES
COST OF SALES7 GROSS PROFIT
DISTRIBUTION COST
ADMINISTRATIVE EXPENSES
OTHER EXPENSES
OTHER INCOME
PROFIT FROM OPERATIONS
FINANCE COST
SHARE OF PROFIT OF ASSOCIATE
PROFIT BEFORE LEVY & TAXATION
LEVY
PROFIT BEFORE TAXATION
TAXATION
- Current
- Prior year adjustment
- Share of tax of associate
31 December 2024
Rupees
188,598,916
(131,918,276)
56,680,640
(12,224,651)
(38,289,587)
(2,164,283)
(52,678,521)
4,002,119
11,491,235
15,493,354
(531,149)
14,962,205
1,494,387
16,456,592
(4,663,886)
11,792,706
(657,035)
(18,709)
8,538
(667,206)
31 December 2023
Rupees
249,045,541
(170,786,185)
78,259,356
(10,746,394)
(39,089,549)
(3,834,028)
(53,669,971)
24,589,385
12,908,480
37,497,865
(323,082)
37,174,783
1,873,644
39,048,427
(3,670,261)
35,378,166
(687,812)
(11,033)
(4,155,978)
(4,854,823)
31 December 2024
Rupees
119,210,834
(83,733,437)
35,477,397
(8,218,976)
(20,454,341)
(1,127,262)
(29,800,579)
5,676,818
3,715,950
9,392,768
(216,468)
9,176,300
428,356
9,604,656
(867,593)
8,737,063
(1,556,094)
(18,709)
189,763
(1,385,040)
31 December 2023
Rupees
109,701,554
(76,014,004)
33,687,550
(4,849,022)
(21,639,612)
(2,342,842)
(28,831,476)
4,856,074
4,804,805
9,660,879
(240,508)
9,420,371
1,057,500
10,477,871
(620,443)
9,857,428
(1,112,812)
(11,033)
(4,017,233)
(5,141,078)
PROFIT AFTER TAXATION | 11,125,500 |
EARNINGS PER SHARE - BASIC AND DILUTED | |
1.51 | |
The annexed notes form an integral part of these condensed interim financial statements.
30,523,343
4.15
7,352,0234,716,350
1.000.64
KHAWAR ANWAR KHAWAJA | ARFAN SHAHZAD | MUHAMMAD TAHIR BUTT |
CHIEF EXECUTIVE | CHIEF FINANCIAL OFFICER | DIRECTOR |
07
GOC (PAK) LIMITED
CONDENSED INTERIM FINANCIAL INFORMATION
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE HALF YEAR ENDED 31 DECEMBER 2024
PROFIT AFTER TAXATION
OTHER COMPREHENSIVE INCOME / (LOSS) Items that will not be reclassified to profit or loss:
(Deficit) / Surplus arising on remeasurement of investment at fair value through other comprehensive income
Items that may be reclassified subsequently to profit or loss Other comprehensive (loss) / income for the period
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD
Half Year Ended | Quarter Ended | |||||
31 December | 31 December | 31 December | 31 December | |||
2024 | 2023 | 2024 | 2023 | |||
Rupees | Rupees | Rupees | Rupees | |||
11,125,500 | 30,523,343 | 7,352,023 | 4,716,350 |
(33,864) | 28,217 | 34,662 | 23,112 | |||||
- | - | - | - | |||||
(33,864) | 28,217 | 34,662 | 23,112 | |||||
11,091,636 | 30,551,560 | 7,386,685 | 4,739,462 | |||||
The annexed notes form an integral part of these condensed interim financial statements.
KHAWAR ANWAR KHAWAJA | ARFAN SHAHZAD | MUHAMMAD TAHIR BUTT |
CHIEF EXECUTIVE | CHIEF FINANCIAL OFFICER | DIRECTOR |
08
GOC (PAK) LIMITED
CONDENSED INTERIM FINANCIAL INFORMATION
CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE HALF YEAR ENDED 31 DECEMBER 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation
Adjustment for:
Depreciation on property, plant and equipment
Profit on deposit accounts
Dividend income
Share of profit of associated company
Loss on disposal of property, plant and equipment
Finance cost
Net cash generated from operating activities before working capital changes
(Increase) / Decrease in current assets
Stores, spare parts and loose tools
Stock in trade
Trade debts
Advances
Short term investment
Trade deposits and short term prepayments
Other receivables
Increase / (Decrease) in current liabilities
Trade and other payables
Cash generated from / used in operations
Finance cost paid
Income tax refunded / (paid)
Net increase in long term deposits
Net cash generated / (used in) from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditure on property, plant and equipment
Proceeds from disposal of property, plant and equipment
Profit on deposit accounts received
Dividend income
Net cash from investing / (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Dividend paid
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
The annexed notes form an integral part of these condensed interim financial statements.
31 December
2024
Rupees
16,456,592
8,599,669
(2,265,638)
(9,225,597)
(1,494,387)
6,249
531,149
(3,848,555)
12,608,037
237,175
(59,157,791)
27,449,177
2,521,185
13,089,465
(2,110,994)
(295,336)
(18,267,119)
(10,197,306)
(15,856,388)
(531,149)
(8,061,497)
(827,168)
(25,276,202)
(2,368,025)
240,000
2,432,834
9,225,597
9,530,406
(14,460,448)
(14,460,448)
(30,206,244)
60,585,088
30,378,844
31 December
2023
Rupees
39,048,427
7,892,041
(2,371,765)
(10,536,715)
(1,873,644)
1,638
323,082
(6,565,363)
32,483,064
(1,862,350)
(9,926,365)
(38,874,128)
(7,529,556)
11,053,610
(1,209,388)
(765,640)
(49,113,817)
27,713,941
11,083,188
(323,082)
(4,859,883)
-
5,900,223
(7,929,279)
975,830
3,084,671
10,536,715
6,667,937
(18,396,438)
(18,396,438)
(5,828,278)
24,959,459
19,131,181
KHAWAR ANWAR KHAWAJA | ARFAN SHAHZAD | MUHAMMAD TAHIR BUTT |
CHIEF EXECUTIVE | CHIEF FINANCIAL OFFICER | DIRECTOR |
09
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