C.Sec./PPP/3rd BOD/PSX/2024-2025 | |
24th April, 2025 | |
THE GENERAL MANAGER | PUCARS / FORM-3 |
PAKISTAN STOCK EXCHANGE | SECP Through TCS |
STOCK EXCHANGE BUILDING | |
STOCK EXCHANGE ROAD- KARACHI. |
SUB: FINANCIAL RESULTS FOR THE 3RD QUARTER ENDED 31-03-2025
Dear Sir/Ma'am,
We are pleased to inform you that the Board of Directors of our Company in their meeting held on Thursday,
24th April, 2025 at 11:00 am recommend the following:
a) | Interim Cash Dividend | Nil |
b) | Bonus Shares | Nil |
c) | Right Shares | Nil |
d) | Any Other Entitlement / Corporate Action | Nil |
e) | Any Other Price Sensitive Information | Nil |
In compliance of Notice # PSX/N-062 dated Jan, 10, 2025, we enclose herewith the following.
- Condensed Interim Statement of Financial Position (Unaudited)
- Condensed Interim Statement of Profit or Loss (Unaudited)
- Condensed Interim Statement of Changes in Equity (Unaudited)
- Condensed Interim Statement of Cashflow (Unaudited)
Moreover, Accounts shall also be available and upload on PUCAR and PPP website viz: www.pakpaper.comin due course of time.
Yours Sincerely,
____
DAWOOD AHMED MAPARA COMPANY SECRETARY
CC to:
Executive Director (Enforcement), Securities & Exchange Commission of Pakistan, NIC Building, Jinnah Avenue, Blue Area, Islamabad Fax: No. 051-9206015
ANNEXURE-A
PAKISTAN PAPER PRODUCTS LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (Un-Audited)
AS AT 31 MARCH 2025
(Un-audited) | (Audited) | |||||||||||
Notes | 31 March | 30 June | ||||||||||
2025 | 2024 | |||||||||||
ASSETS | --------------- (Rupees) --------------- | |||||||||||
NON-CURRENT ASSETS | ||||||||||||
Property, plant and equipment | 5 | 1,376,823,060 | 1,313,671,838 | |||||||||
Intangible assets | -- | 94,165 | ||||||||||
Long term deposits | 1,989,572 | 1,675,258 | ||||||||||
1,378,812,632 | 1,315,441,261 | |||||||||||
CURRENT ASSETS | ||||||||||||
Stores and spares | 12,105,309 | 10,037,039 | ||||||||||
Stock-in-trade | 281,712,126 | 355,983,019 | ||||||||||
Trade debts - unsecured | 307,556,835 | 346,734,816 | ||||||||||
Advances and other receivables | 168,149,815 | 105,612,399 | ||||||||||
Deposits, advances and short term prepayments | 9,368,938 | 393,030 | ||||||||||
Cash and bank balances | 6 | 5,391,824 | 7,125,720 | |||||||||
784,284,846 | 825,886,023 | |||||||||||
2,163,097,478 | 2,141,327,284 | |||||||||||
EQUITY AND LIABILITIES | ||||||||||||
SHARE CAPITAL AND RESERVES | ||||||||||||
Authorised share capital | ||||||||||||
15,000,000 (2024: 15,000,000) Ordinary shares of Rs. 10/- each | 150,000,000 | 150,000,000 | ||||||||||
Issued, subscribed and paid-up share capital | 80,000,000 | 80,000,000 | ||||||||||
Revenue reserves | 678,046,643 | 621,942,028 | ||||||||||
Capital reserve | ||||||||||||
Surplus on revaluation of property, plant and equipment | 959,399,936 | 959,399,936 | ||||||||||
1,717,446,579 | 1,661,341,964 | |||||||||||
NON-CURRENT LIABILITIES | ||||||||||||
Deferred tax liability - net | 60,906,114 | 55,141,541 | ||||||||||
Deferred liability for staff gratuity | 21,712,850 | 19,928,330 | ||||||||||
Long term loans - secured | 80,872,831 | 62,852,231 | ||||||||||
Liabilities against assets subject to musharakah financing | 958,685 | 2,878,685 | ||||||||||
Deferred grant | 2,407,987 | 3,189,610 | ||||||||||
166,858,467 | 143,990,397 | |||||||||||
CURRENT LIABILITIES | ||||||||||||
Current portion shown under current liabilities | 38,889,624 | 26,560,800 | ||||||||||
Current portion of deferred government grant | 1,056,733 | 1,148,559 | ||||||||||
Short term borrowings - secured | 125,514,209 | 137,799,954 | ||||||||||
Creditors, accrued and other liabilities | 100,258,810 | 130,639,788 | ||||||||||
Unclaimed dividend | 13,073,056 | 12,285,638 | ||||||||||
Provision for taxation - net | -- | 27,560,184 | ||||||||||
278,792,432 | 335,994,923 | |||||||||||
CONTINGENCIES AND COMMITMENTS | 7 | -- | -- | |||||||||
2,163,097,478 | 2,141,327,284 | |||||||||||
The annexed notes form an integral part of these condensed interim financial statements.
_____________________ | _______________________ | _____________________ | ||||||
Abbas Sayeed | Muhammad Yusuf | Abid Sayeed | ||||||
Chairman | Chief Financial Officer | Chief Executive |
PAKISTAN PAPER PRODUCTS LIMITED
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (Un-Audited)
FOR THE NINE MONTHS ENDED 31 MARCH 2025
Nine Months Ended - (Un-audited) | Quarter Ended (Un-audited) | |||||||||||||||
Notes | 31 March | 31 March | 31 March | |||||||||||||
2025 | 31 March 2024 | 2025 | 2024 | |||||||||||||
----------- (Rupees) ----------- | ----------- (Rupees) ----------- | |||||||||||||||
Sales - net | 1,279,741,479 | 1,427,918,279 | 535,557,479 | 517,591,578 | ||||||||||||
Cost of sales | (1,060,198,026) | (1,128,331,904) | (434,967,573) | (384,078,212) | ||||||||||||
Gross profit | 219,543,453 | 299,586,375 | 100,589,906 | 133,513,366 | ||||||||||||
Administrative expenses | (46,607,552) | (42,882,955) | (15,652,367) | (14,676,542) | ||||||||||||
Selling and distribution expenses | (17,513,984) | (14,732,181) | (5,590,390) | (4,768,996) | ||||||||||||
Other operating expenses | (8,175,968) | (41,003,498) | (4,294,978) | (32,966,727) | ||||||||||||
(72,297,504) | (98,618,634) | (25,537,735) | (52,412,265) | |||||||||||||
Operating profit | 147,245,949 | 200,967,741 | 75,052,171 | 81,101,101 | ||||||||||||
Other income | 1,856,484 | 819,432 | 862,611 | 89,846 | ||||||||||||
Finance cost | (31,743,262) | (49,235,628) | (10,330,405) | (14,626,286) | ||||||||||||
Profit before taxation | 117,359,171 | 152,551,545 | 65,584,377 | 66,564,661 | ||||||||||||
Taxation - net | (29,254,556) | (40,038,294) | (7,408,705) | (20,113,237) | ||||||||||||
Profit for the period | 88,104,615 | 112,513,251 | 58,175,672 | 46,451,424 | ||||||||||||
Earnings per share - basic and diluted | 11.01 | 14.06 | 7.27 | 5.81 |
The annexed notes form an integral part of these condensed interim financial statements.
_____________________ | _______________________ | _____________________ | ||||||
Abbas Sayeed | Muhammad Yusuf | Abid Sayeed | ||||||
Chairman | Chief Financial Officer | Chief Executive |
PAKISTAN PAPER PRODUCTS LIMITED
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (Un-Audited)
FOR THE NINE MONTHS ENDED 31 MARCH 2025
Issued, | Revenue reserves | Surplus on | |||
subscribed | General | Unappropriated | Total | revaluation of | Total |
and paid-up | revenue | property, | equity | ||
reserves | profit | ||||
share capital | reserves | plant and | |||
----------------------------------------------------- (Rupees)
Balance as on 1 July 2023
80,000,000 143,900,000
378,732,946 522,632,946 504,841,334 1,107,474,280
Profit for the period ended 31 March 2024 | -- | -- | 112,513,251 | 112,513,251 | -- | 112,513,251 | ||
Other comprehensive income | -- | -- | -- | -- | -- | -- | ||
Total comprehensive income for the period | -- | -- | 112,513,251 | 112,513,251 | -- | 112,513,251 | ||
Surplus on revaluation realized on disposal of fixed assets - Net of tax | -- | -- | 1,355,306 | 1,355,306 | (1,355,306) | -- | ||
Transfer to unappropriated profit on account | ||||||||
of incremental depreciation - Net of tax | -- | -- | 1,006,089 | 1,006,089 | (1,006,089) | -- | ||
Transactions with owners: | ||||||||
Final cash dividend @ 40% related to the year ended 30 June 2023 | -- | -- | (32,000,000) | (32,000,000) | -- | (32,000,000) | ||
Balance as at 31 March 2024
80,000,000 143,900,000
461,607,592 605,507,592 502,479,939 1,187,987,531
Balance as on 1 July 2024
80,000,000 143,900,000
478,042,028 621,942,028 959,399,936 1,661,341,964
Profit for the period ended 31 March 2025 | -- | -- | 88,104,615 | 88,104,615 | -- | 88,104,615 | ||
Other comprehensive income | -- | -- | -- | -- | -- | -- | ||
Total comprehensive income for the period | -- | -- | 88,104,615 | 88,104,615 | -- | 88,104,615 | ||
Transactions with owners: | ||||||||
Final cash dividend @ 40% related to the year ended 30 June 2024 | -- | -- | (32,000,000) | (32,000,000) | -- | (32,000,000) | ||
Balance as at 31 March 2025
80,000,000 143,900,000
534,146,643 678,046,643 959,399,936 1,717,446,579
The annexed notes form an integral part of these condensed interim financial statements.
_____________________ | _______________________ | _____________________ | |
Abbas Sayeed | Muhammad Yusuf | Abid Sayeed | |
Chairman | Chief Financial Officer | Chief Executive |
PAKISTAN PAPER PRODUCTS LIMITED
CONDENSED INTERIM CASH FLOW STATEMENT (Un-Audited)
FOR THE NINE MONTHS ENDED 31 MARCH 2025
(Un-audited) | (Un-audited) | ||||||||||
31 March | 31 March | ||||||||||
Notes | 2025 | 2024 | |||||||||
--------------- (Rupees) --------------- | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||||
Profit before taxation | 117,359,171 | 152,551,545 | |||||||||
Adjustments for non-cash and other items: | |||||||||||
Depreciation | 36,716,422 | 30,861,701 | |||||||||
Amortization | 94,165 | 105,939 | |||||||||
Provision for gratuity | 3,185,139 | 3,205,647 | |||||||||
Provision for Sindh Workers' Profit Participation Fund | 6,276,757 | 8,196,450 | |||||||||
Provision for Sindh Workers' Welfare Fund | 1,899,211 | 3,181,011 | |||||||||
Loss on disposal of fixed assets | -- | 1,474,711 | |||||||||
Finance cost | 31,743,262 | 42,559,961 | |||||||||
Exchange loss | (802,799) | 6,675,667 | |||||||||
Gain on disposal of fixed assets | (153,761) | (664,218) | |||||||||
(Increase) / decrease in current assets | |||||||||||
Stores and spares | (2,068,270) | (3,316,902) | |||||||||
Stock-in-trade | 74,270,893 | (4,229,532) | |||||||||
Trade debts | 39,177,981 | 20,288,133 | |||||||||
Advances and other receivables | (17,327,284) | (3,049,313) | |||||||||
Deposits and short term prepayments | (8,975,908) | 3,096,098 | |||||||||
Increase / (decrease) in current liabilities | |||||||||||
Creditors, accrued and other liabilities | (19,598,176) | (89,456,649) | |||||||||
Cash generated from operations | 261,796,803 | 171,480,249 | |||||||||
Payments for: | |||||||||||
Income taxes net of refund received | (96,260,299) | (7,704,807) | |||||||||
Sindh Workers' Welfare Fund | (5,182,779) | (2,996,893) | |||||||||
Sindh Workers' Profit Participation Fund | (12,436,006) | (7,137,586) | |||||||||
Gratuity | (1,400,619) | (1,057,030) | |||||||||
Finance cost | (32,280,447) | (41,825,396) | |||||||||
Net cash inflows from operating activities | 114,236,653 | 110,758,537 | |||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||||
Addition to tangible assets | 5.1.1 | (100,538,914) | (23,247,516) | ||||||||
Sale proceeds against disposal of fixed assets | 825,031 | 1,317,260 | |||||||||
Net cash outflows from investing activities | (99,713,883) | (21,930,256) | |||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||||
Long term deposits | (314,314) | (300,000) | |||||||||
Long-term finances obtained | 51,758,100 | -- | |||||||||
Repayment of long-term finances | (24,202,125) | (19,920,600) | |||||||||
Dividend paid | (31,212,582) | (30,817,050) | |||||||||
Net cash outflows from financing activities | (3,970,921) | (51,037,650) | |||||||||
Net increase / (decrease) in cash and cash equivalents | 10,551,849 | 37,790,631 | |||||||||
Cash and cash equivalents at the beginning of the period | (130,674,234) | (213,443,131) | |||||||||
Cash and cash equivalents at the end of the period | 8 | (120,122,385) | (175,652,500) | ||||||||
The annexed notes form an integral part of these condensed interim financial statements.
_____________________ | _______________________ | _____________________ | ||||||
Abbas Sayeed | Muhammad Yusuf | Abid Sayeed | ||||||
Chairman | Chief Financial Officer | Chief Executive |