Mandviwalla S2?ii1GffS$% Plastic Industries Limited
May 23, 2025
The General Manager,
Pakistan Stock Exchange Limited, Stock Exchange Building,
Stock Exchange Road, ' Karachi.
Subject. FINANCIAL RESULTS FOR THE HALF YEAR ENDED DECEMBER 31, 2024
Dear Sir,
We have to inform you that the Board of Directors of our Company in their meeting held on May 23, 2025, at 3:00 p.m, at its registered office situated at Mandviwalla Building, Old Queens Road, Karachi has approved the un-audited financial statements duly reviewed by the auditors of the company for the half year ended December 31, 2024 and recommended the following:
(i) | CASH DIVIDEND | NIL |
(ii) | BONUS SHARES | NIL |
(iii} | RIGHT SHARES | NIL |
(iv) | ANY OTHER ENTITLEMENT / CORPORATE ACTION | NIL |
(iv) | ANY OTHER PRICE SENSITIVE INFORMATION | NIL |
The financial results of the Company are attached
The half yearly report of the company for the period ended December 31, 2024 will be transmitted through PUCARS séperately, within the specified time.
Yours Wul
Hina Ambreen
Company Secretary
Cc to : The Executive Director/ HOD Offsite-11 Department, Supervision Divison,
Securities and Exchange Commission of Pakistan, 63, NIC Building,
Jinnah Avenue, Blue Area,
Islamabad
Head Office : Mandviwalla Building, Old Queens 'oad, Karachi-74000 Pakistan. Factory : A-79/B, Eastern Industrial Zone, Port Qasim Authority, Karachi Factory Uthal : C-5, Uthal Industrial Estate. Uthal Baluchistan, Pakistan.
Phone No. ' (92-21) 3244111d-9 (4 Lines) Fax : (92-21) 3244 T276
E-Mail mmpil cyber.net.pk Website : https://www.mandviwaIIamauser.com
CONDENSED INTERIM STATEMENT OF FINANCIAL POSTION AS AT DECEMBER 31, 2024
ASSETS
NON-CURIIENT ASSETS
Property, plant and equipment Deferred taxation
Long term deposits
CURRENT ASSETS
Stores, spare and loose tools Stock-in-trade
Trade receivables Other receivables
Cash and bank balances
Unaudited
December 31,
2024
Note nupees
62,464,367
9,163,926
1,423,656
4
73,051,949
1,508,781
228,647,985
117,257,8Z6
54,277,445
6,145,712
5
6
Audited June 30,
2024
Rupees
64,544,574
14,672,067
1,423,656
80,640,297
TOTAL ASSETS
EOUITY AND LIABILITIES REPRESENTED BY:
SHARE CAPITAL AND RESERVES
Authorized capital: 40,000,000 (June 30,2024: 40,000,000) ordinary shares of Rs.10/ - each
Issued, subscribed and paid-up capital 28,748,133 (June 30, 2024: 28,748,133) ordinary shares of Rs. 10 each.
Subordinated loan Accumulated losses
407,837,799
480,889,748
400,000,000
361,969,039
2,374,131
150,354,272
83,525,921
113,848,933
11,865,782
442,609,336
400,000,000
CURRENT LIABILITIES
T rade and other payables Unclaimed dividend Provision for taxation Short term borrowings
73,626,380 55,895,580
67,691,866
2,208,846
5,143,979
302,653,437
91,235,399
2,208,846
24,613,100
239,033,278
28Z,481,330
115,714,528
(329,569,478)
287,481,330
115,714,528
(347,300,278)
7
NON-CURRENT LIABILITIES
377,698,128
357,090,623
Deferred liability
TOTAL EOUITY AND LIABILITIES CONTINGENCIES AND COMMITMENTS
29 56 240 29 62 133
29,565,240 29,623,133
480,889,748 442,609,336
8
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS ACCOUNT (UNAUDITED) FOR THE HALF YEAR ENDED DECEMBER 3 r 2024
Half year ended
Quarter ended
Note
December 31, December 31,
2024 2023
Rupees Rupees
December 31, December 31,
2024 2023
Rupees Rupees
Sales - Gross Less: Sales tax Sales - net
569,634,514
(86,500,604)
483,133,910
614,532,497
(81,251,786)
533,280,711
291,718,609
(44,499,449)
247,219,160
345,002,095
(47,887,184)
297,114,911
Cost of goods sold | 9 | 4 8 273 279 | 4 2 3 8 | 219 583 385 | 254 081 0 | |||||||
Gross profit / (loss) | 64,860,631 | 81,217,363 | 27,635,775 | 43,033,201 | ||||||||
Administrative expenses | 15,853123 | 13,075,668 | 8,717,392 | 8,301,850 | ||||||||
Selling and distribution expenses | 8,629,261 | 7,910,466 | 5,259,720 | 3,464,100 | ||||||||
(24,482,384) | (20,986,134) | (13,977,112) | (11,765,950) | |||||||||
Other income | ||||||||||||
Operating profit/(loss) | 40,378,247 | 60,233,229 | 23,658,663 | 31,267,251 | ||||||||
Financial and other charges | (7 7 5 935) | (9 9 04) | (4 5 598) | ,772,034) | ||||||||
Profii/(loss) before taxation | 32,662,312 | 50,316,125 | 8,703,065 | 26,495,217 | ||||||||
Taxation | ( 93 51 ) | (8 53 741 | (7 983 330 | ( 5 6 8) | ||||||||
Profit/(loss) for the period | 17,730,800 | 41,762,384 | 719,734 | -.- | 24,849,539 | |||||||
Earnings per share - basic | 0.62 | 1.45 | 0.03 | 0.86 | ||||||||
CONDENSED INTERIM STATEMENT OF CASHFLOWS - UNAUDITED
FOR THE THREE MONTH PERIOD ENDED DECEMBER 31, 2024
December 31,
2024
JilIitlYlWilllit
December 31,
2023
CASH FLOWS GENERATED FROM OPERATIONS
Profit /(loss) before taxation
Adjustment for non-cash changes and other items: Depreciation on property, plant and equipment Provision for staff gratuity
Loss/(gain) on sale of property, plant and equipment Loss/(gain) on long term deposit
Financial and other charges
Net cash flow from operating activities before working capital changes Working capital changes
(Increase)/decrease in current assets Stores, spare and loose tools
Stock-in-Wade Trade receivables Other Receivable
Increase /(decrease) in current liabilities Trade and other payables
Income tax paid Staff gratuity paid
Employees' compensated absences paid Financial and other charges paid
Net cash inflow/(outflow) from operating activities CASH FLOWS FROM INVESTING ACTIVITIES
Addition into the property, plant and equipment Sale proceed of property, plant and equipment Sale proceed of long term deposits
Net cash inflow/(outflow) from investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Short term financing from directors Short term borrowing
Short term borrowing from banks Subordinated Loan
Repayment of Subordinated Load
Net cash inflow / (outflow) from financing activities
Note
Rupees
32,662,312
3,386,186
(57,893)
7,715,935
11,044,228 43,706,540
865,350
(78,293,713)
(33,731,955)
59,571,488
(51,588,830)
(23 3 533)
(23,543,533)
(28,892,492)
7,715,935
(36,608,427)
(68,034,249)
(1,305,979)
(1,305,979)
63,620,159
63,620,159
Rupees 50,316,125
3,524,940
(991,946)
9,915,104
12,448,099 62,764,224
(J9,2t4,907)
(7,885,346)
17,660,322
(44,760,575)
18,752,580
18,752,580
(8,335,974)
(43,393)
9,915,104
18,294,472
18,461,757
(941,716)
(941,716)
(697,564)
(7,623,232)
(8,320,796)
Net increase / (decrease) in cash and cash equivalents | (5,720,070) | 9,199,245 |
Cash arid cash equivalents at the beginning of the period | 11,865,782 | 796,571 |
Cash and cash equivalents at the end of the period | 6,145,712 | 9,995,816 |
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2024
Issued, Subscribed and Paid-up Capital | Subordinated loan | Accumulated Losses | Net shareholders' equity |
Rupees Rupees Rupees
Rupees
Balance as at July 1, 2023 | 287,481,330 | 115714,528 | (456,522,266) | (53,326,408) |
Total comprehensive income for the period Increase in paid-up capital | - | 41,762,384 | 41,762,384 |
Balance as at December 31, 2023 - unaudited 287,481,30a 15,714p528 414,759,882a (11,564,024)
Balance as at July 1, 2024 | 287,481,330 | 115,714,528 | (347,300,278) | 55,895,580 |
Total comprehensive income for the period | 17,730,800 | 17,730,800 |
Balance as at December 31, 2024 - unaudited _ 287,481,330 115,714,528 /329,569,478) 73,626,380