March 26, 2025
The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi
Dear Sir,
FINANCIAL RESULTS FOR THE 1ST QUARTER ENDED SEPT 30, 2024
We would like to inform you that the Board of Directors of Hira Textile Mills Limited ("the Company") in their meeting held on March 26, 2025 at 10:00 a.m. at Lahore, reviewed and approved the unaudited financial results of the Company for the period ended on Sept 30, 2024, and recommended the following:
(i) | CASH DIVIDEND | NIL |
(ii) | BONUS SHARES | NIL |
(iii) | RIGHT SHARES | NIL |
(iv) | ANY OTHER ENTITLEMENT / CORPORATE ACTION | NIL |
(v) | ANY OTHER PRICE-SENSITIVE INFORMATION | 1st quarter financial results are attached as |
Annexure "A" |
Yours truly,
For on behalf of Hira Textile Mills Limited
Muhammad Hassnain Seed Sohbin Company Secretary
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Authorized share capital
Un-Audited 30-Sep-24
Audited 30-Jun-24
Rupees
Rupees
870,000,000
870,000,000
Issued share capital Share premium Revaluation reserve Accumulated losses Loan from sponsors
865,779,200 865,779,200
82,500,000 82,500,000
1,104,365,827 (3,170,887,670)
1,109,740,199 (3,116,936,020)
481,500,000
481,500,000
TOTAL EQUITY
LIABILITIES
NON-CURRENT LIABILITIES
Long term finances
Lease liabilities
Employees retirement benefits Deferred interest
Deferred taxation
CURRENT LIABILITIES
Trade and other payables Unclaimed dividend Short term borrowings Accrued interest/profit
Current portion of non-current liabilities
(636,742,643)
1,933,665,392
1,624,756,758
(577,416,621)
1,933,665,391
1,591,728,635
TOTAL LIABILITIES
CONTINGENCIES AND COMMITMENTS
3,558,422,150
4
TOTAL EQUITY AND LIABILITIES
2,921,679,507
(577,416,617)
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment Right-of-use assets Investment in associate Long term deposits
CURRENT ASSETS
Stores and spares Stock in trade Trade receivables
Advances and other receivables
Advance income tax/income tax refundable Cash and bank balances
Un-Audited 30-Sep-24
Rupees
2,855,780,777
Audited 30-Jun-24
Rupees
2,881,870,395
66,107,010
TOTAL ASSETS
2,921,679,507
2,947,977,405
STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Un-Audited | ||
30-Sep-24 | ||
Rupees | ||
Revenue from contracts with customers - net | 4,421,425 | - |
Cost of sales | (3,175,221) | (34,533,159) |
Gross loss | (25,753,796) | (34,533,159) |
Selling and distribution expenses | - | - |
Administrative expenses | (4,680,026) | (4,222,753) |
Other expenses | - | - |
(4,680,026) | (4,222,753) | |
Impairment allowance for expected credit losses | - | - |
(30,433,822) | (38,755,912) | |
Other income | - | - |
Operating profit | (30,433,822) | (38,755,912) |
Finance cost | (28,836,932) | (28,834,097) |
Notional interest | - | - |
(28,836,932) | (28,834,097) | |
Loss before taxation | (59,270,754) | (67,590,009) |
Provision for taxation | (55,268) | - |
Loss after taxation | (59,326,022) | (67,590,009) |
Loss per share - basic and diluted | (0.69) | (0.78) |
0 |
Audited 30-Sep-23
Rupees
Company Secretary
STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Balance as at 01 July 2023
Comprehensive income
Loss after taxation
Other comprehensive (loss)/income
Total comprehensive (loss)/income
Other transactions
Incremental depreciation
Transaction with owners
Issued share capital
Rupees
865,779,200
- - -
Share premium Revaluation reserve Accumulated losses
Rupees
Rupees
82,500,000
Rupees
1,133,626,295
(2,859,562,232)
Loan from sponsors
Total equity
Rupees
Rupees
481,500,000 (296,156,737)
- - -
- - -
(281,259,884) - (281,259,884)
(281,259,884)
- -
(281,259,884)
-
-
-
-
(23,886,096)
-
23,886,096
-
-
-
- -
Balance as at 30 June 2024
865,779,200
82,500,000
1,109,740,199
(3,116,936,020)
481,500,000 (577,416,621)
Balance as at 01 July 2024
Comprehensive income
Loss after taxation
Other comprehensive income
Total comprehensive income/(loss)
Other transactions
Incremental depreciation
Transaction with owners
865,779,200
- - -
82,500,000
1,109,740,199
(3,116,936,020)
481,500,000 (577,416,621)
- - -
- - -
(59,326,022) - (59,326,022)
(59,326,022)
- -
(59,326,022)
- - 865,779,200
- - 82,500,000
(5,374,372)
- 5,374,372
-
- 481,500,000
-
- -
Balance as at 30 September 2024
1,104,365,827
(3,170,887,670)
(636,742,643)
0
Company Secretary
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Unaudited | Unaudited | |
30-Sep-24 | 30-Sep-23 | |
Rupees | Rupees | |
CASH FLOW FROM OPERATING ACTIVITIES | ||
Cash generated from operations | (1,132,318) | 219,139 |
Payments for: | ||
Employees retirement benefits | - | - |
Interest on borrowings | - | - |
Income tax | (450,000) | |
Net cash (used in)/generated from operating activities | (1,582,318) | 219,139 |
CASH FLOW FROM INVESTING ACTIVITIES | ||
Purchase of property, plant and equipment | - | - |
Proceeds from disposal of property, plant and equipment | 1,675,000 | |
Net cash generated from/(used in) investing activities | 1,675,000 | - |
CASH FLOW FROM FINANCING ACTIVITIES | ||
Repayment of long term finances | - | - |
Payment of lease liabilities | - | |
Net cash used in financing activities | - | - |
NET DECREASE IN CASH AND CASH EQUIVALENTS | 92,682 | 219,139 |
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR | 62,152 | 821,629 |
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR | 154,834 | 1,040,768 |
- | - | |
0 |
Company Secretary