HASEEB WAQAS SUGAR MILLS LIMITED
CONDENSED INTERIM BALANCE SHEET
AS AT DECEMBER 31, 2024
Note
CAPITAL AND LIABILITIES
Share Capital and Reserves
Authorized capital
35,000,000 (2016: 35,000,000) ordinary shares of Rs. 10 each
Issued, subscribed and paid up capital
Loan from Directors
Capital Reserves
Surplus on Revaluation of Property
Revenue Reserves
Accumulated (loss) / Profit
Non Current Liabilities
Long term financing
Liability against assets subject to finance lease Deferred liabilities
Deferred taxation
Current Liabilities
Trade and other payables
Markup on Loans and other Payables
Short term borrowings
Unclaimed dividend
Current portion of non current liabilities
Contingencies and Commitments | 4 |
ASSETS
Non Current Assets
Property, plant and equipment | 5 |
Long term deposits
Deferred cost
Current Assets
Stores, spares and loose tools Stock in Trade
Advances, Deposits, Prepayments and other Receivables Cash and bank balances
The annexed notes form an integral part of these condensed interim financial statements.
Dec 31, 2024
Rupees
350,000,000
324,000,000
1,260,495,119
4,511,088,674
(5,565,170,452)
530,413,341
-
-
17,727,972
1,364,590,280
1,382,318,252
764,748,619
1,214,260,189
752,088,315
1,443,972
1,367,187,642
4,099,728,737
-
6,012,460,330
5,795,619,214
470,000
5,796,089,214
112,000,000
56,407,833
45,571,788
2,391,495
104,371,116
6,012,460,329
Dec 31, 2023
Rupees
350,000,000
324,000,000
1,258,445,119
4,549,877,439
(5,629,735,684)
502,586,874
-
147,727,972
1,335,458,933
1,483,186,905
796,322,771
1,183,695,578
752,088,315
1,443,972
1,367,187,642
4,100,738,278
-
6,086,512,057
5,863,625,134
470,000
5,864,095,134
112,000,000
56,407,829
45,376,209
8,632,885
110,416,923
6,086,512,057
Abdullah Ilyas | Raza Mustafa | Syed Mubashir Hussain Bukhari |
CHIEF EXECUTIVE. | DIRECTOR. | CHIEF FINANCIAL OFFICER 3 |
HASEEB WAQAS SUGAR MILLS LIMITED
CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (Unaudited)
FOR THE QUARTER ENDED DECEMBER 31, 2024
Un-audited | ||||
Note | Dec 31, 2024 | Dec 31, 2023 | ||
Rupees | ||||
Sales - Net | 6 | - | - | |
Cost of goods sold | 7 | 71,561,933 | 82,649,478 | |
Gross (loss) | (71,561,933) | (82,649,478) | ||
Operating expenses: | ||||
- Administrative and general expenses | 3,528,716 | 3,225,071 | ||
(Loss) before taxation | (75,090,649) | (85,874,549) | ||
Finance cost | 1,542 | 2,304 | ||
(Loss) before taxation | (75,092,191) | (85,876,853) | ||
Deferred Tax | 100,868,656 | 18,314,905 | ||
(Loss)/ profit after taxation | 25,776,465 | (67,561,948) | ||
Earning per share - basic | ||||
0.80 | (2.09) | |||
Abdullah Ilyas | Raza Mustafa | Syed Mubashir Hussain Bukhari |
CHIEF EXECUTIVE. | DIRECTOR. | CHIEF FINANCIAL OFFICER |
4
HASEEB WAQAS SUGAR MILLS LIMITED
CONDENSED INTERIM STATEMENT OF CASH FLOWS (Unaudited)
FOR THE QUARTER ENDED DECEMBER 31, 2024
CASH FLOW FROM OPERATING ACTIVITIES
Un-audited
Dec 31, 2024 | Dec 31, 2023 |
Rupees
(Loss) before taxation
Adjustments for:
- Depreciation
- Finance cost
Operating (loss)/ profit before working capital changes
(Increase) / decrease in current assets:
- Stores, spares and loose tools
- Stock in trade
- Trade deposits and short term prepayments Increase / (decrease) in current liabilities:
- Trade and other payables
Cash used in operations
Gratuity paid
Finance cost paid
Net cash generated/ used in operating activities
CASH FLOW FROM INVESTING ACTIVITIES
Property, plant and equipment purchased
Net cash used in investing activities
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds / (Repayment) from long term loans - Net Proceeds / (Repayment) from Lease Finance - Net Proceeds / (Repayment) from directors' loan - Net Proceeds / (Repayment) from short term borrowings - Net
Net cash generated from/ used in financing activities
Net increase 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
(75,092,191)
68,005,920
1,542
68,007,462
(7,084,729)
-
-
(195,579)
(31,574,152)
(31,769,731)
(38,854,460)
-
30,563,069
(8,291,391)
-
(8,291,391)
-
-
2,050,000
-
2,050,000
(6,241,391)
8,632,885
2,391,494
(85,876,853)
71,821,912
2,304
71,824,216
(14,052,637)
(1,498,382)
-
(6,870,400)
(17,372,176)
(25,740,958)
(39,793,595)
-
30,562,307
(9,231,288)
-
(9,231,288)
-
-
7,109,380
1,474,619
8,583,999
(647,289)
1,971,834
1,324,545
The annexed notes form an integral part of these condensed interim financial statements.
Abdullah Ilyas | Raza Mustafa | Syed Mubashir Hussain Bukhari |
CHIEF EXECUTIVE. | DIRECTOR. | CHIEF FINANCIAL OFFICER |
5
HASEEB WAQAS SUGAR MILLS LIMITED
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (Unaudited)
FOR THE QUARTER ENDED DECEMBER 31, 2024
Un-audited | |||
Dec 31, 2024 | Dec 31, 2023 | ||
Rupees | |||
(Loss) after taxation | 25,776,465 | (67,561,948) | |
Other comprehensive income | - | - | |
Total comprehensive (loss) for the period | 25,776,465 | (67,561,948) | |
The annexed notes form an integral part of these condensed interim financial statements.
Abdullah Ilyas | Raza Mustafa | Syed Mubashir Hussain Bukhari |
CHIEF EXECUTIVE. | DIRECTOR. | CHIEF FINANCIAL OFFICER |
6
HASEEB WAQAS SUGAR MILLS LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (Unaudited)
FOR THE QUARTER ENDED DECEMBER 31, 2024
Issured | Loan | Surplus on | Accumulated | |||
Subscribed | from | Revaluation of | Loss/ Profit | Total | ||
and Paid up | Directors | Property, Plant | ||||
Capital | & Equipmenys | |||||
Rupees | ||||||
Balance as at September 30, 2023 | 324,000,000 | 1,225,190,739 | 4,713,414,891 | (5,496,427,007) | 766,178,623 | |
Loss for the period | - | (67,561,948) | (67,561,948) | |||
Increase / (Decrease in Directors Loan | - | |||||
Transfer from surplus on revaluation of fixed assets | 7,109,380 | 7,109,380 | ||||
in respect of incremental depreciation - net of deferred tax | (41,633,473) | 41,633,473 | - | |||
Balance as at December 31, 2023 | 324,000,000 | 1,232,300,119 | 4,671,781,418 | (5,522,355,482) | 705,726,055 | |
Loss for the period | - | (229,284,179) | (229,284,179) | |||
Other comprehensive income / (loss) for Period | - | - | ||||
Increase in Directors Loan | 26,145,000 | 26,145,000 | ||||
Revaluation surplus arise during the year | - | |||||
Transfer from surplus on revaluation of fixed assets | ||||||
in respect of incremental depreciation - net of deferred | - | (121,903,977) | 121,903,977 | - | ||
- | - | |||||
Balance as at September 30, 2024 | 324,000,000 | 1,258,445,119 | 4,549,877,441 | (5,629,735,684) | 502,586,876 | |
Loss for the period | - | 25,776,465 | 25,776,465 | |||
Increase / (Decrease) in Directors Loan | 2,050,000 | 2,050,000 | ||||
Transfer from surplus on revaluation of fixed assets | ||||||
in respect of incremental depreciation - net of deferred | - | (38,788,767) | 38,788,767 | - | ||
Balance as at December 31, 2024 | ||||||
324,000,000 | 1,260,495,119 | 4,511,088,674 | (5,565,170,452) | 530,413,341 | ||
The annexed notes form an integral part of these condensed interim financial statements.
Abdullah Ilyas | Raza Mustafa | Syed Mubashir Hussain Bukhari |
CHIEF EXECUTIVE | DIRECTOR | CHIEF FINANCIAL OFFICER |
7