KHALID SIRAJ
Textile Mills Limited
1
1
Introduction
2
3
Historical Financial Highlights
Financial Results 2023
4
5
Future Outlook/Problems
Question/Answer Session
2
Khalid Siraj Textile Mills Limited (the "Company") was
incorporated in Pakistan as a public limited company on 17 January 1988 on Stock Exchanges in Pakistan.
Registered office of the Company is situated at 135 Upper
Mall, Lahore. The project of the Company is located at 48 KM Lahore Multan Road, Phool Nagar (Bhai Pheru), Tehsil Pattoki, District Kasur.
The principle business of the Company is manufacturing and
sale of yarn and the other related / allied operations.
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Historical Financial Highlights
Profit / (Loss) before taxation
Years | Profit/Loss before taxation | ||||
635 | |||||
1,871 | 3,920 | ||||
2023 | |||||
2022 | 2021 | ||||
2024 | |||||
2020 | 2019 | ||||
1 | 2 | 3 | 4 | 5 | 6 |
(6,951) | (26,623) (30,125) |
Rs in thousands
Net Profit / (Loss)
Years Net Profit / (Loss)
329 409
15,663
2023 2022
2024 | 2021 | 2020 | 2019 | ||
1 | 2 | 3 | 4 | 5 | 6 |
(13,725) | (20,322) (40,284) |
Rs in thousands
4
Rs in thousands
Total Assets
500000 | ||||||
400000 | 348,380 | 375,130 | 408,632 | 364,109 | ||
300000 | 324,307 | 337,610 | ||||
200000 | ||||||
100000 | ||||||
0 | ||||||
2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
Years | Total assets | |
Rs in thousands
Shareholders' Equity
50000 | |||||||
0 | |||||||
-50000 | 2024 | 2023 | (44,197) | 2022 (44,526) | 2021 (44,935) | 2020 | 2019 |
(57,922) | |||||||
-100000 | (125,664) | ||||||
-150000 | |||||||
(145,985) | |||||||
-200000 |
Years | Owner's equity (ordinary shareholders) | |
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Historical Financial Highlights
All amounts in thousand)
Years | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
Turnover (Net) | - | - | - | 3,302 | - | - |
Profit/(Loss) before | (6,951) | 635 | 1,871 | 3,920 | (26,623) | (30,125) |
taxation | ||||||
Net Profit / (Loss) | (13,725) | 329 | 409 | 15,663 | (20,322) | (40,284) |
Number of shares
107,000
107,000
107,000
107,000
107,000
107,000
Owner's equity
(57,922)
(44,197)
(44,526)
(44,935) | (145,985) |
(125,664)
Break up value of sahre
(5.41)
(4.13)
(4.16)
(4.20)
(13.64)
(11.74)
Earning per sahre-baisc
(1.28)
0.03
0.04
1.46
(3.76)
(3.76)
Total assets
324,307
348,380
375,130
408,632
337,610
364,109
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Financial Results 2024 VS 2023
2024 | 2023 | Variance | %ge |
Sales (net)
Cost of sales
Gross loss
Other operating income
Administrative and general expenses
Other operating expenses Finance cost
Profit/(Loss) before taxation
Taxation
- m
- m
- m
- m
- m
- m
- m
- m -6.95 m
-6.77 m
- m
- m
- m
- m
- m
- m
- m
- m
- m
-0.31 m
- m
- m
- m
-10.26 m
0.48 m
-3.22 m 0.06 m
-2.68 m
-6.32 m
-7.08 m
0%
0%
0%
-34%
-17%
-12%
92%
-9%
Profit/(Loss) after taxation | -13.72 m | 0.33 m | -13.40 m | ||
7
Future Outlook
There have been uncertainties during the financial year, mainly due to abrupt devaluation which resulted in an increase in inflation. Electricity rates have been inflated to levels that the market is not absorbing. Regionally competitive rates are to reinstated for spinning sector to work efficiently. After the receipt of financial assistance from friendly countries, foreign direct investment and the approval of bailout package by the IMF, it is expected that the economy now finds its way to towards gaining momentum. To counter this challenging economic situation; the Pakistani textile sector shall have to be a cost effective niche marketing, product and customer development are the essential tools to remain competitive domestically and internationally. The management is confident that the company shall be able to improve its operational performance and going forward.
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Future Outlook
The shareholders are well aware that once lease period will over, the unit will be running on optimum production capacity level.
The management of the company is determined and optimist to turn the unit as viable, operational and profitable in future. We hope that the Change in Government Policies and facilitation to textile sector will bring fruitful results for the Company.
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Future Challenges/Problems
Stiff Competition | Removal of subsidy on |
Textile | |
Devaluation of Pak | Higher Markup Rates |
Rupees | due to inflation |
US & EU cuts imports of
Energy Crisis
Textile from Pakistan
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