HASEEB WAQAS SUGAR MILLS LIMITED
Head Office: 6-F, Model Town, Lahore
Phones: 0092-42-3597321-3,tax: 0092-A2-359 17----
cs@hwgc.com.pk,https://www.hwgc.com.pk
Ref: HWSML/CORP/ PSX 29 May 2025
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road KARACHI-7<.000.
THROUGH PUCAzS a• coUnIrnFINANCIAL RESULTS FOR THE HALF YEAR ENDED-31 MARCH 2025
Dear Sir
lVe 1&ve to inform you that tne Board of Directors of our company in their mééting held on Thursday, 29 Ma2y25i0 at 02:00 p.m. at Registered office of the company
M H
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financial results of the company for the half year ended on 31
Approved Financial results along with Statement of Comprehensive income, statement oi financial position, statement of changes in equity and statement of cash flows of the company are attached herewith.
During the period under review, the Board has not announced any of Cash.
Dividend, Bonus Shares, or Right Shares.The half yearly report of"thr qmp ny for the period ended 31 March 2015 wiil be transmitted through PUCARS separately, within the specified time.
Yourrfaithfully,
(ANS AHM }
Company Secretary
Encl: As Above
, .A UNIT OF HASEEB WAQAS GROUP OF COMPANIES
SITE: ALI PUR ROAD JATOI (MUZAFFAR GARH) Ph: 0662700460, 0321-4003704•5
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CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION
AS AT MARCH 31, 2025
EQUITY AND LIABILITIES
Share Capital and Reserves
Authorized capital
35,000,000 (Sept. 30, 2022: 35,000,000) ordinary
Note
Un-audited Audited March 31, 2025 Sep 30, 2024
Rupees
shares of Rs. 10 each | 350,000,000 | 350,000,000 | ||
Issued, subscribed and paid up capital | 6 | 324,000,000 | 324,000,000 | |
Loan from Directors | 7 | 1,263,062,119 | 1,258,445,119 | |
Surplus on Revaluation of Property, | ||||
Plant and Equipment | 4,470,671,089 | 4,549,877,439 | ||
Accumulated loss | (5,663,401,846) | (5,629,735,684) | ||
394,331,362 | 502,586,874 | |||
Non Current Liabilities | ||||
Long term financing | 8 | - | - | |
Deferred liabilities | 147,804,720 | 147,727,972 | ||
Deferred taxation | 1,300,500,586 | 1,335,458,933 | ||
1,448,305,306 | 1,483,186,905 | |||
Current Liabilities | ||||
Trade and other payables | 809,462,703 | 796,322,771 | ||
Markup/ interest payables | 1,183,695,578 | 1,183,695,578 | ||
Short term borrowings | 9 | 752,086,938 | 752,088,315 | |
Unclaimed dividend | 1,443,972 | 1,443,972 | ||
Current portion of non current liabilities | 10 | 1,367,187,642 | 1,367,187,642 | |
4,113,876,833 | 4,100,738,278 | |||
Contingencies and Commitments | 11 | - | - | |
5,956,513,501 | 6,086,512,057 | |||
ASSETS | ||||
Non Current Assets | ||||
Property, plant and equipment | 12 | 5,728,165,706 | 5,863,625,134 | |
Long term deposits | 470,000 | 470,000 | ||
5,728,635,706 | 5,864,095,134 | |||
Deferred Cost | 112,000,000 | 112,000,000.00 | ||
Current Assets | ||||
Stores, spares and loose tools | 56,407,835 | 56,407,828 | ||
Stock in trade | 13 | - | - | |
Advances, deposits, prepayments and other receivables | 59,427,402 | 45,376,209 | ||
Cash and bank balances | 42,559 | 8,632,886 | ||
115,877,795 | 110,416,923 | |||
5,956,513,501 | 6,086,512,057 |
The annexed notes from 1 to 19 are form an integral part of these condensed interim financial information
ABDULLAH ILYAS
CHIEF EXECUTIVE
RAZA MUSTAFA SYED MUBASHIR HUSSAIN BUKHARI
DIRECTOR CHIEF FINANCIAL OFFICER
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED)
FOR THE HALF YEAR AND 2ND QUARTER ENDED MARCH 31, 2025
Half year ended | Quarter ended | |||||||
Note | March 31, 2025 March 31, 2024 Rupees | March 31, 2025 March 31, 2024 Rupees | ||||||
Sales - Net | 14 | - - | - - | |||||
Cost of goods sold | 15 | (141,418,666) (172,009,937) | (69,856,733) (136,454,309) | |||||
Gross (loss) | (141,418,666) (172,009,937) | (69,856,733) (136,454,309) | ||||||
Operating expenses: | ||||||||
- Administrative and general (6,410,556) | (11,072,575) | (2,881,840) | (8,265,904) | |||||
(147,829,222) | (183,082,512) | (72,738,573) | (144,720,213) | |||||
Other operating income | 16 | - | - | - | - | |||
(Loss/Profit) from operation | (147,829,222) | (183,082,512) | (72,738,573) | (144,720,213) | ||||
Finance cost | (1,642) | (27,710) | (100) | 41,917,802 | ||||
(Loss/Profit) before taxation | (147,830,864) | (183,110,222) | (72,738,673) | (102,802,411) | ||||
Taxation | ||||||||
Current | - | - | - | - | ||||
Deferred | 34,958,350 | (40,611,423) | (65,910,306) | (47,928,450) | ||||
34,958,350 | (40,611,423) | (65,910,306) | (47,928,450) | |||||
(Loss/Profit) after taxation | (112,872,514) | (223,721,645) | (138,648,979) | (150,730,861) | ||||
Loss/Profit per share - basic and diluted | (3.48) | (6.90) | (4.28) | (4.65) | ||||
The annexed notes from 1 to 19 are form an integral part of these condensed interim financial information
ABDULLAH ILYAS
RAZA MUSTAFA
SYED MUBASHIR HUSSAIN BUKHARI
CHIEF EXECUTIVE DIRECTOR CHIEF FINANCIAL OFFICER
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)FOR THE HALF YEAR AND 2ND QUARTER ENDED MARCH 31, 2025
Half year ended Quarter ended
March 31, 2025 March 31, 2024 March 31, 2025 March 31, 2024
Rupees Rupees
(Loss/Profit) after taxation (112,872,514) (223,721,645) (138,648,979) (150,730,861)
Other comprehensive income for the period - - - -
Total comprehensive (loss) for the period (112,872,514) (223,721,645) (138,648,979) (150,730,861)
The annexed notes from 1 to 19 are form an integral part of these condensed interim financial information
ABDULLAH ILYAS
RAZA MUSTAFA
SYED MUBASHIR HUSSAIN BUKHARI
CHIEF EXECUTIVE DIRECTOR CHIEF FINANCIAL OFFICER
CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED)FOR THE HALF YEAR ENDED MARCH 31, 2025
March 31, 2025 March 31, 2024
CASH FLOW FROM OPERATING ACTIVITIES | Ru | pees | |
(Loss)/profit before taxation | (147,830,864) | (183,110,222) | |
Adjustments for: | |||
- Depreciation | 135,459,428 | 142,963,564 | |
- Finance cost | 1,642 | 27,710 | |
135,461,070 | 142,991,274 | ||
Operating profit before working capital changes | (12,369,794) | (40,118,948) | |
(Increase) / decrease in current assets: | |||
- Stores, spares and loose tools | (7) | (1,546,531) | |
- Stock in trade | - | - | |
- Advances, deposits, prepayments and other receivables | (14,051,193) | (29,767,988) | |
Increase / (decrease) in current liabilities: | |||
- Trade and other payables | 13,139,932 | (15,004,076) | |
(911,268) | (46,318,595) | ||
Cash generated /(used in) from operations | (13,281,062) | (86,437,543) | |
Income tax paid / deducted | 76,753 | (23,819) | |
Gratuity paid | - | (3,886) | |
Finance cost paid | (1,642) | - | |
Net cash generated from/(used in) operating activities | (13,205,951) | (86,465,248) | |
CASH FLOW FROM INVESTING ACTIVITIES | |||
Property, plant and equipment purchased | - | - | |
Long term deposits | - | - | |
Proceeds from sale of property, plant and equipment | - | - | |
Net cash (used in) investing activities | - | - | |
CASH FLOW FROM FINANCING ACTIVITIES | |||
Proceeds / (Repayment) from long term loans - Net | - | - | |
Proceeds / (Repayment) from Directors/Sponsors- Net | 4,617,000 | 7,234,380 | |
Proceeds / (Repayment) of related parties | (1,377) | 78,644,662 | |
Net cash generated from financing activities | 4,615,623 | 85,879,042 | |
Net increase/(decrease) in cash and cash equivalents | (8,590,328) | (586,206) | |
Cash and cash equivalents at the beginning of the period | 8,632,886 | 1,971,835 | |
Cash and cash equivalents at the end of the period | 42,559 | 1,385,629 | |
The annexed notes from 1 to 19 are form an integral part of these condensed interim financial information
ABDULLAH ILYAS
RAZA MUSTAFA
SYED MUBASHIR HUSSAIN BUKHARI
CHIEF EXECUTIVE DIRECTOR CHIEF FINANCIAL OFFICER
HASEEB WAQAS SUGAR MILLS LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE HALF YEAR ENDED MARCH 31, 2025
Issued Subscribed and Paid up Capital
Loan from Directors
Surplus on Revaluation of Property, Plant & Reequipments
Accumulated (Loss) / Profit
Total
R u p p e e s
Balance as at September 30, 2023 324,000,000 1,225,190,739 4,713,414,891 (5,496,427,007) 766,178,623
-
-
-
-
-
-
(223,721,645)
-
(223,721,645)
-
Loss for the period
Other comprehensive Income / (Loss) for the Period
Total comprehensive income / (loss) for the period - - - (223,721,645) (223,721,645)
Transaction with Owners:
Increase / (Decrease) in Director's Laon during the Period - - - - -
Surplus on revaluation of fixed assets transferred to
retained earnings in respect of incremental depreciation - net of Tax - - (83,266,945) 83,266,945 -
Balance as at March 31, 2024 324,000,000 1,225,190,739 4,630,147,946 (5,636,881,707) 542,456,978
Total comprehensive loss for the period
Net (loss) for the period - - - (73,124,482) (73,124,482)
Other comprehensive income - - - - -Total comprehensive income / (loss) for the period - - - (73,124,482) (73,124,482) Increase in director's loan during the year - 33,254,380 - - 33,254,380
Revaluation Surplus arise during the year - -
Surplus on revaluation of fixed assets transferred to retained earnings in respect of incremental depreciation | - | (80,270,505) | 80,270,505 | - | |||||
Balance as at September 30, 2024 | 324,000,000 | 1,258,445,119 | 4,549,877,441 | (5,629,735,684) | 502,586,876 | ||||
Total comprehensive loss for the period | |||||||||
Net loss for the period Adjustment Other comprehensive income | - - | - - | - - | (112,872,514) - - | (112,872,514) - | ||||
Total comprehensive income / (loss) for the period | - | - | - | (112,872,514) | (112,872,514) | ||||
Increase in director's loan during the year Surplus on revaluation of fixed assets transferred to retained earnings in respect of incremental depreciation | - - | 4,617,000 - | -(79,206,352) - | - 79,206,352 - | 4,617,000 - | ||||
Balance as at March 31, 2025 | 324,000,000 | 1,263,062,119 | 4,470,671,089 | (5,663,401,846) | 394,331,362 |
The annexed notes from 1 to 19 are form an integral part of these condensed interim financial information
ABDULLAH ILYAS
RAZA MUSTAFA
SYED MUBASHIR HUSSAIN BUKHARI
CHIEF EXECUTIVE DIRECTOR CHIEF FINANCIAL OFFICER