MAQBOOL
TEXTILE MILLS LIMITED.
Third Quarter and Nine Months Unaudited Financial Statements
for the Period Ended 31st March, 2024
Maqbool Textile Mills Limited
STATEMENT OF PROFIT OR LOSS | ||||
FOR THE PERIOD ENDED MARCH 31, 2024 | ||||
(Un-Audited) | ||||
Nine months period ended | Quarter ended | |||
March 31,2024 | March 31,2023 | March 31,2024 | March 31,2023 | |
------------------------------Rupees------------------------------ | ||||
Revenue from contracts - net | 8,409,421,582 | 7,079,911,944 | 2,546,957,288 | 2,412,676,325 |
Cost of goods sold | (7,701,174,198) | (6,548,218,333) | (2,540,639,486) | (2,218,089,231) |
Gross Profit | 708,247,385 | 531,693,611 | 6,317,802 | 194,587,094 |
Other operating income | 2,543,644 | 7,471,584 | - | 2,916,512 |
710,791,029 | 539,165,195 | 6,317,802 | 197,503,606 | |
Distribution cost | (77,217,506) | (50,772,344) | (24,249,355) | (16,196,687) |
Administrative expenses | (256,250,391) | (205,528,244) | (84,613,276) | (65,163,586) |
Other operating expenses | - | - | - | - |
(333,467,897) | (256,300,588) | (108,862,631) | (81,360,273) | |
Finance cost | (522,395,173) | (408,665,602) | (171,583,169) | (141,089,897) |
Loss before taxation | (145,072,042) | (125,800,995) | (274,127,998) | (24,946,564) |
Provision for Taxation | (94,053,584) | (121,888,329) | (25,264,741) | (29,828,462) |
Loss for the period | (239,125,626) | (247,689,324) | (299,392,739) | (54,775,025) |
Other comprehensive profit/(loss) | ||||
for the period - net of tax | ||||
Transfer from deferred tax due to change | - | - | - | - |
rate on opening revaluation surplus | ||||
(239,125,626) | (247,689,324) | (299,392,739) | (54,775,025) | |
Earnings per share | (12.97) | (13.44) | (16.24) | (2.97) |
NOTES TO THE ACCOUNTS
1- These un-audited financial statements are being presented to the shareholders as required under SECP Notification No. SRO 746(1)2001 dated 05-11-2001 and in accordance with the requirements of International Accounting Standard- 34 "Interim Financial Reporting".
2- Accounting policies adopted for the preparation of these quarterly accounts are the same as adopted in the preceding periodic financial statements.
3- Figures in these accounts have been rounded off to the nearest rupee.
Chief Executive Officer | Director | Chief Financial Officer |
Maqbool Textile Mills Limited
STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2024 (Un-Audited)
ASSETS
Non-current assets
Property, plant and equipment
Long term deposits
Current assets
Stores and spares
Stock in trade
Trade debts
Loans and advances and prepayments
Due from Government
Advance tax
Other financial assets
Cash and bank balances
Total assets
EQUITY AND LIABILITIES
Share capital and reserves
Share capital Share premium
Surplus on revaluation of property, plant and equipment - net of deferred tax
General reserve
Unappropriated profits
Non-current liabilities
Long term financing
Lease against right of use assets
Deferred taxation
Staff retirement benefits - gratuity
Current liabilities
Trade and other payables
Accrued mark up
Short term borrowings Unclaimed dividend Unpaid dividend
Current portion of long term financing
Current portion of liabilities against right of use assets Provision for taxation
Contingencies and commitments
Total equity and liabilities
UN-AUDITED
31-Mar-24 Rupees
4,415,141,959
11,222,314
4,426,364,273
210,555,429
1,718,801,512
598,691,656
201,574,968
358,279,028
147,503,741
10,000,000
31,216,778
3,276,623,112
7,702,987,386
184,320,000
65,280,000
1,542,719,890
168,000,000
429,431,810
2,389,751,700
513,974,963
22,981,901
598,661,947
70,878,206
1,206,497,017
672,588,994
188,331,935
2,987,690,000
3,005,565
3,810,315
140,121,711
11,404,925
99,785,223
4,106,738,669
-
7,702,987,386
AUDITED
30-Jun-23
Rupees
4,461,204,766
11,222,314
4,472,427,080
215,485,658
1,644,631,956
1,404,086,258
193,862,560
378,057,758
145,508,899
10,395,667
37,211,751
4,029,240,507
8,501,667,587
184,320,000
65,280,000
1,580,516,928
168,000,000
630,760,398
2,628,877,326
538,166,920
31,334,284
604,609,653
65,791,519
1,239,902,376
1,278,821,473
162,294,674
2,893,560,627
3,005,565
3,810,315
158,044,694
11,087,841
122,262,696
4,632,887,885
-
8,501,667,587
Chief Executive Officer | Director | Chief Financial Officer |
Maqbool Textile Mills Limited
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED MARCH 31, 2024 (Un-Audited)
CASH FLOWS FROM OPERATING ACTIVITIES
Profit/(Loss) before taxation
Adjustments for:
Depreciation
Interest income on term finance certificate Provision for gratuity
Finance cost
Operating cash flows before working capital changes
(Increase)/decrease in current assets
Stores and spares
Stock-in-trade
Trade debts
Loans and advances and prepayments
Sales tax refundable
(Decrease)/increase in current liabilities
Trade and other payables
Cash generated from / (used in) operations Income tax paid
Gratuity paid Finance cost paid
Net cash (used in) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property, plant and equipment Other financial assets
interest received on term finance certificates Long-term deposits
Net cash (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES Acquired/(Repayment) of Long-termfinances Short-termborrowings - net Acquired/(Repayment) of Lease liabilities Dividend paid
Net cash generated from financing activities
Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the period
31-Mar-24 Rupees
(145,072,042)
158,823,139
-
41,099,427
522,395,173
722,317,739
577,245,697
4,930,229
(74,169,556)
805,394,602
(7,712,408)
19,778,730
748,221,597
(606,232,480)
719,234,814
(124,473,605)
(36,012,740)
(496,357,912)
(656,844,257)
62,390,557
(112,760,338)
395,667
-
(112,364,671)
(42,114,940)
94,129,373
(8,035,299)
-
43,979,134
(5,994,980)
(1,168,523,173)
(1,174,518,153)
30-Jun-23
Rupees
(156,752,417)
213,682,833
(1,931,663)
40,620,689
632,648,197
885,020,056
728,267,639
(61,109,204)
(180,140,937)
(194,237,082)
77,824,951
(48,535,448)
(406,197,720)
505,896,927
827,966,846
(143,319,569)
(34,502,617)
(569,264,484)
(747,086,670)
80,880,176
(256,679,280)
(10,000,000)
1,535,996
704,250
(264,439,034)
(116,990,444)
479,425,018
(11,285,571)
(18,457,269)
332,691,734
149,132,876
(1,317,656,049)
(1,168,523,173)
Chief Executive Officer | Director | Chief Financial Officer |
Maqbool Textile Mills Limited
STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED MARCH 31, 2024 (Un-Audited)
Balance as at July 01, 2022
Loss for the nine months ended March 31, 2023 Other comprehensive income / (loss) for period
Dividend for the year ended June 30, 2022 @ Rs. 1.00 per share
Transfer to unappropriated profit on account of incremental depreciation on surplus of revaluation of property, plant & machinery
Balance as at March 31, 2023
Balance as at July 01, 2023
Loss for the nine months ended March 31, 2024 Other comprehensive income / (loss) for period
Transfer to unappropriated profit on account of incremental depreciation on surplus of revaluation of property, plant & machinery
Balance as at March 31, 2024
Share capital | Capital Reserve | Revenue reserves | |||
Issued, | Surplus on | Total | |||
Share | revaluation of | Un-appropriated | |||
subscribed and | General reserve | ||||
premium | Property, Plant | profit | |||
paid-up | |||||
and Equipment | |||||
---------------------------------------------------- | Rupees ---------------------------------------------------- | ||||
184,320,000 | 65,280,000 | 1,637,396,190 | 168,000,000 | 828,283,416 | 2,883,279,606 |
- | - | - | - | (247,689,324) | (247,689,324) |
- | - | - | - | - | - |
- | - | - | - | (247,689,324) | (247,689,324) |
(18,432,000) | (18,432,000) | ||||
- | (35,590,710) | 35,590,710 | - | ||
184,320,000 | 65,280,000 | 1,601,805,480 | 168,000,000 | 597,752,802 | 2,617,158,282 |
184,320,000 | 65,280,000 | 1,580,516,928 | 168,000,000 | 630,760,398 | 2,628,877,326 |
- | - | - | - | (239,125,626) | (239,125,626) |
- | - | - | - | - | - |
- | - | - | - | (239,125,626) | (239,125,626) |
- | (37,797,038) | - | 37,797,038 | - | |
184,320,000 | 65,280,000 | 1,542,719,890 | 168,000,000 | 429,431,810 | 2,389,751,700 |
37,797,038 | 239,125,626 |
Chief Executive Officer | Director | Chief Financial Officer |