Husein Industries LtdPSX: HUSI

Transmission of Quarterly Report for the Period Ended Mar 2025

Apr 30, 2025 at 8:17 AM UTC · Issued by Husein Industries Ltd

‌Q U A R T E R L Y R E P O R T E N D E D‌

5 1 S T M A R C H 2 0 2 5

‌COMPANY INFORMATION

BOARD OF DIRECTORS

CHIEF FINANCIAL OFFICER COMPANYSECRETARY BOARD OF AUDIT COMMITTEE

HUMAN RESOURCE AND REMUNERATION COMMITTEE

BANKERS

Mr. Abdul Aziz Jamal Mr. Husein Aziz Jamal Mr. Abdul Rashid Jamal Ms. Saman Aziz Jamal

Mr. Muhammed Ali Rashid Mr. Akhtar Wasim Dar

Mr. Malik Muneer Mr. M. Anwar Kaludi

Mr. Muhammed Aslam Moten

Mr. Akhtar Waim Dar Mr. Abdul Rashid Jamal Mr. Malik Muneer

Mr. Mirza Akhtar Shikoh

Mr. Akhtar Wasim Dar Mr. Abdul Rashid Jamal Mr. Malik Muneer

Mr. Shan ul Haq

Habib Metropolitan Bank Limited MCB Bank Limited

Soneri Bank Limited

Dubai Islamic Bank Limited

Chairman

Chief Executive Officer Non-Executive Director Executive Director

Non-Executive Director Independent Director Independent Director

Chairman Member Member Secretary

AUDITORS

LEGAL ADVISOR REGISTERED & HEAD OFFICE

SHARE REGISTRAR

E-Mail URL

Reanda Haroon Zakaria Amir Salman Rizwan

& Company

Chartered Accountants Ms. Marium Badar

HT-8, Landhi Industrial & Trading Estate, Landhi, Karachi-75120.

C & K Management Associates (Pvt) Limited M13, Progressive Plaza Civil Lines Quarter Near PIDC Beamont Road Karachi-75530

Sales@husein.com https://www.husein.com

DIRECTORS' REVIEW

The Board of Directors of Husein Industries Limited is honored to present the third quarterly review report for the period

ended March 31, 2025.

F-inancial Performance:

These interim financial statements are being presented in accordance with the requirements of the Companies Act, 2017. Summary of the Company's financial performance for the period ended March 31, 2025 was as under:-

for the Nine Months period ended March 31

2025 2024

(Rupees }

Financial Results
Revenue	184,277,287	212,843,008
Cost of sales and expenses	(94,505,360)	(128,510,371)
Gross profit	89,771,927	84,332,637
Other Income	1,441,651	1,399,945
Administrative expenses	(33,003,993)	(27,706,003)
Other charges	(820,444)
Operating profit	57,389,142	58,026,579
Finance costs	(36,032,549)	(45,906,533)
Profit before levies and taxation	21,356,593	12,120,046
Levies	(6,047)
Income taxation	5,437,129	113,893
Profit after taxation	26,787,675	12,233,939
Earning per share	2.52	1.15

Financial Overview

For the nine months period ended March 31, 202J; your Company's revenue was Rs. 184.277 million as compared to Rs. 212.843 million in the corresponding period last year. Gross profit of the Company increased to Rs. 89.772 million from Rs. 84.333 million as compared to the corresponding period. Administrative expenses incurred during the period was Rs. 33.004 million as compared to Rs. 27.706 million in the comparative period. Profit after taxation increased to Rs. 26.788 million as compared to Rs. 12.234 million in the corresponding period.

Future outlook

Husein Industries Limited remains vigilant and adaptive, cognizant of the need to navigate through potential headwinds. The envisaged economic optimism and political stability over the period, coupled with emerging trends, set the stage for recovery and growth. The real estate sector stands as a key driver of economic growth and prosperity. By harnessing its potential and capitalizing on emerging opportunities, the Sector can play a pivotal role in shaping a brighter future for the country and its citizens. We are hopeful that there would be much improvement in real estate sector in the year 202J-2026.

Vote of thanks:

Your directors are pleased to record their appreciation of the various Government Departments, Bankers, Customers, Shareholders and other stakeholders for the continued dedication, support, commitment, loyalty, trust and confidence in the company and its management.

for and On all of the Board

Abdul Az al

Chair

Karachi: April 29, 2025

Chief Executive Officer

HUSEIN INDUSTRIES LIMITEO

STATEMENT OF FINANCIAL POSITION (UN-AUDITED) AS AT MARCH 31, 2025

ASSETS

Non-Current Assets

March 31,

2025

(Un-audited}

- - - - - - - - - (Rupees} - -

June 30,

2024

(Audited)

Property, plant and equipment	696,586,416	717,697,071
Long term investment	783,307	616,127
Long term deposits Deferred taxation - net	1,316,096	1,316,096
	698,685,819	719,629,294

Current Assets

Short term investment Development Property Trade debts

Advances and Prepayments

Tax refunds due from the Government Cash and bank balances

1,699,070	1,538,024
68,021,455	31,335,093
1,336,260	1,484,471
15,016,223	14,927,180
5,976,060	5,976,060
12,047,194	13,964,545

104,096,262 69,225,373

Total Assets

EQUITY AND LIABILITIES

Share Capital and Reserves

Authorised Share Capital

15,000,000 Ordinary shares of Rs. 10 each Share Capital

802,782,081

150,000,000

788,854,667

150,000,000

Issued, subsribed and paid up capital Capital Reserves	106,258,520	106,258,520
Share Premium	33,858,000	33,858,000
Surplus on revaluation of property	507,189,993	518,185,538
	541,047,993	552,043,538
Revenue Reserves
General reserves	292,142,000	292,142,000
Accumulated losses	(989,056,984)	(1,026,840,204)
(696,914,984) (734,698,204)
Shareholder's equity Non-Current Liabilities	(49,608,471)	(76,396,146)
Deferred tax liability	115,272,546	119,763,684

Current Liabilities

Trade and other payables Contract liabilities

Short term borrowings Mark-up accrued Unclaimed dividend Provision for taxation - net

737,118,007

177,912,186	178,015,396
21,263,469	60,270,177
276,435,490	276,435,490
189,832,551	153,822,972
303,346	303,346
71,370,965	76,639,748

745,487,129

Contingencies and Commitments

Total Equity and Liabilities 802,782,081 788,854,667

xed notes fr m an integral part of these financial statements

'ef Execu

Chief Financial Officer

HUSEIN INDUSTRIES LIMITED

STATEMENT OF PROFIT OR LOSS AND COMPERHENSIVE INCOME(UN - AUDITED) FOR THE NINE MONTHS ENDED MARCH 31, 2025

FOR THE QUARTER FOR THE NINE MONTHS
JAN-MAR		JAN-MAR	JUL-MAR	JUL-MAR
2025		2024	2025	2024
- - - - - - - - - - - - - - - - - - - - (Rupees) - - - - - - - -- - - - - - - - - - -
Revenue	49,916,063	46,186,857	184,277,287		212,843,008
Cost of sales and expenses	(15,868,749)	(12,565,459)	(94,505,360)		(128,510,371)
Gross profit	34,047,314	33,621,398	89,771,927		84,332,638
Administrative expenses	(10,582,554)	(9,494,922)	(33,003,993)		(27,706,003)
Operating profit	23,464,760	24,126,476	56,767,934		56,626,635
Finance cost	(8,393,625)	(14,549,934)	(36,032,549)		(45,906,533)
Other chargres	(438,023)		(820,444)
Other income	420,795	408,254	1,441,651		1,399,945
Profit / (loss) before levies and taxation	15,053,908	9,984,796	21,356,593		12,120,047
Levies			(6,047)
Profit / (loss) before taxation		9,984,796	21,350,546		12,120,047
Taxation -net	1,225,525	(785,246)	5,437,129		113,892
Profit / (loss) after taxation	16,279,433	9,199,550	26,787,675		12,233,939
Other comprehensive income
Total comprehensive Income for the period	16,279,433	9,199,550	26,787,675		12,233,939
Earning per share basic and diluted	1.53	0.87	2.52		1.15

The annexed notes form an integral part of these financial statements

Chief Executive officer Chief Financial Officer

HUSEIN INDUSTRIES metre-c

STATEMENT OF CHANGES IN EQUITY(UN-AUDITED)

FOR THE NINE MONTHS ENDED MARCH 31, 2025

Reserves

Capital

Revenue

Ordinary Share

Surplus on revaluation of

General

Accumulated

Total

Shareholders'

Equity

capital

Premium

propeny,

reserves

losses

reserves

Balance as at July 01, 2023

106,258,520

33,858,000

533,617,882

292,142,000

(1,072,619,360)

(213,001,478)

(106,742,958)

Profit for the period

Other comprehensive income for the period

12,233,939

Transfer from surplus on revaluation of property on account of

Incremental depreciaton -net of deferred tax

(11,574,258

11,574,258

Total Comprehensive income for the period

(11,574,2S8)

23,808,197

12,233,939

Balance as at March 31, 2024

106,258,520

33,858,000

522,043,624

292,142,OOO

(1,048,811,163)

(200,767,539)

(94,S09,019)

Balance as at July 01, 2024

106,258,520

33,858,000

518,185,538

292,142,000

(1,026,840,204)

(182,654,666)

(76,396,146)

Profit for the period

26,787,675

Other comprehensive income for the period

Transferred from surplus on revaluation of property on account of incremental depreciation - net of deferred tax

(10,995,545

10,p95S45

Totat comprehensive iacome for the period

(10,995,545}

37,783,220

26,787,675

Balance as at March 31, 2025

106,258,520

33,858,000

507,189,993

292,142,000

(989,056,984)

(155,866,991)

(49,608,471)

* Represents share premium received in the preceding years and is held for utilization of purposes as stated in Section 81 of the Companies Act, 2017.

"* The revaluation surplus on property is not available for distribution to the share holders of the Companies unless realized and transferred to accumulated profits However, these reserves can be individually off set against losses arising in future periods (if any) from revalued assets.

***Represents appropiation of profit in preceding years.

The annexed not s fro an inte part o these financial statements.

Chief cutive r Chiej'financial Officer

HUSEIN INDUSTRIES LIMITED

STATEMENT OF CASH FLOWS (UN - AUDITEDJ F-OR THE NINE MONTHS ENDED MARCH 31,2025

MARCH 31

2025

(Unaudited)

2024

(Unaudited)

- - - - (Rupees) - - - -

A. CASH FLOW F/tOM OPERATING ACTIVITIES

Profit before levies and taxation

21,356,593

12,120,047

Adjustments for:

Depreciation

21,110,655

22,838,261

Interest on gratuity payable

1,807,212

1,629,108

Workers welfare fund

382,421

Remeasurement gain / (loss) on investment Dividend Income

Finance cost

167,180

(8,2zs)

36,032,549

(15,932)

45,906,533

59,491,791

70,357,970

Cash generated from operations activities before

80,848,384

82,478,017

working capital changes

(Increase) / decrease in current assets

Development property

(36,686,362)

(10,940,473)

Prepayments

(89,043)

(16,459,077)

Trade debts

148,211

904,000

(36,627,194)

(26,495,550)

Increase / (decrease) in current liablities

Trade and other payables

139,941

(825,132)

Contract liablilites

(39,006,708)

(79,905,619)

(38,866,767)

(80,730,751)

Net cash used in operations

5,354,423

(24,748,284)

Taxes paid - net

(6,752,281)

(1,401,698)

Gratuity paid

(343,703)

(272,400)

Financial charges paid

(22,970)

(9,766)

Net cash in operating activities

(1,764,531)

(26,432,148)

B. CASH FLOW FROM INVESTING ACTIVITIES

Short term investment

(161,046)

14,886,047

Dividend received

8,226

Net cash (used in)/ generated from investing activities

(152,820)

14,886,047

C CASH FLOW FROM FINANCING ACTIVITIES

Net Increase / (decrease) in cash and cash equivalents (A+B+C)	(1,917,351)	(11,546,101)
Cash and cash equivalent at beginning of the period	13,964,545	13,904,119
Cash and cash equivalent at end of the period	12,047,194	2,358,018

T annexed n form an integral part of these financial statements

Chief Executive officer Chief financial Officer

NOTES TO THE CONDENSED iñ/TERfM FINANCIAL INFORMATION

FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2025

BASIS OF PREPARATION

Statement of compliance
These unaudited 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 comprises of International Accounting Standard ('IAS') 34, 'Interim Financial Reporting', issued by International Accounting Standards Board ('IASB') as notified under the Companies Act, 2017, 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, 2017 have been followed.
These condensed interim financial statements do not include all the information and disclosures required in the annual audited financial statements, and should be read in conjunction with Company's annual audited financial statements for the year ended June 30, 2024. The accounting policies and methods of computations adopted for the preparation of these interim financial statements are the same as applied in the preparation of the preceding audited annual published financial statements of the Company for the year ended June 30, 2024. Selected explanatory notes are included to explain events and transactions that are significant to and understanding of the changes in the Company's financial position and performance since the last annual financial statements.

ACCOUNTING POLICIES
1. The significant accounting policies and the methods of computation adopted in the preparation of these condensed interim financial statements are consistent with those applied in the preparation of audited annual financial statements for the year ended June 30, 2024.
2. There are certain International Financial Reporting Standards, amendments to published standards and interpretations that are mandatory for the financial year beginning on July 01, 2024. These are considered not to be relevant or to have any significant effect on the Company's financial reporting and operations and are, therefore, not disclosed in these condensed interim financial statements.
3. Taxes on income in the interim periods are accrued using tax rate that would be applicable to expected annual profit or loss.
4. Functional and presentation currency
  These interim financial statements are presented in Pak rupees, which is the functional and presentation currency for the Company.
ACCOUNTING ESTIMATES, JUDGEMENTS AND FINANCIAL RISK MANAGEMENT

The preparation of these condensed interim financial statements are in conformity with the approved accounting standards requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including the expectation of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

During the preparation of these condensed interim financial statements, the significant judgments made by management in applying the Company's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the audited annual financial statements of the Company for the year ended June 30, 2024.

The Company's financial risk management objectives and policies are consistent with those disclosed in the Company's annual audited financial statements for the year ended June 30, 2024.

	'March 31, 2025 (Rupees)	June 30, 2024 (Rupees)
Property, plant and equipment
Opening written down value	717,697,071	748,148,064
Additions during the period
Surplus on revaluation of building on lease hold land
	717,697,071	748,148,064
Depreciation charge for the period	(21,110,655)	(30,450,993)
Closing written down value	696,586,416	717,697,071

5 During the period under review, sale of goods and services to associated undertaking was Rs. Nil

6 CORRESPONDING FIGURES

In order to comply with the requirements of International Accounting Standard 34 - 'Interim Financial Reporting', corresponding figures in the condensed interim statement of financial position comprise of balances as per the audited annual financial statements of the Company for year ended June 30, 2024 and the corresponding figures in the condensed interim statement of profit or loss and other comprehensive income, condensed interim statement of cash flows and condensed interim statement of changes in equity comprise of balances of comparable period as per the condensed interim financial statements of the Company for the nine months period ended March 31, 2024.

AUTHORIZATION

These financial statements have been authorized for issue on April 29, 2025 by the Board of Directors of the Company.

8 GENERAL

Figures have been rounded off to rupees, unless otherwise stated.

Chief Executive oj'ficer Chief Financial officer

Earlier from Husein Industries

Husein Industries: Financial Results for the Quarter Ended Mar 2025Apr 29, 2025

All Husein Industries news releases