Punjab Oil Mills LimitedPSX: POML

POML | Punjab Oil Mills Limited TRANSMISSION OF QUARTERLY ACCOUNTS FOR THE PERIOD ENDED MARCH-2025

May 2, 2025 at 5:17 AM UTC · Issued by Punjab Oil Mills Limited

‌Punjab Oil Mills Limited

Company Information 1

Directors' Review Report 2-3

Condensed Interim Statement of Financial Position. 4

Condensed Interim Statement of Profit or Loss. 5

Condensed Interim Statement of Comprehensive Income 6

Condensed Interim Statement of Cash Flows 7

Condensed Interim Statement of Changes in Equity. 8

Notes to the Condensed Interim Financial Information 9

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‌Punjab L1mited

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‌Punjab Oil Mills Limited

COMPANY INFORMATION

BOARD OF DIRECTORS

Mr. Tahir Jahangir

Mr. Usman Ilahi Malik Mr. Jillani Jahangir

Mr. Furqan Anwar Batla Mrs. Munizae Jahangir Miss Mehrunisa Malik Mr. Firasat Ali

Mr. Saif Ali Rastgar

Chairman Executive Director Executive Director

Non-Executive Director Non-Executive Director Non-Executive Director Independent Director Independent Director

AUDIT COMMITTEE

Mr. Firasat Ali

Mr. Furqan Anwar Batla Mr. Saif Ali mstgar

Chairman Member Member

HUMAN RESOURCE & REMUNERATION COMMITTEE

Mr. Saif Ali mstgar

Mr. Furqan Anwar Batla Mr. Jillani Jahangir

Mr. Muhammad Ehtisham Khan

Chairman Member Member Member

CHIEF EXECUTIVE OFFICER Mr. Muhammad Ehtisham Khan

CHIEF FINANCIAL OFFICER

Mr. Shehzad Nazir

COMPANY SECRETARY

Rana Shakeel Shaukat

HEAD OF INTERNAL AUDIT

Mr. Shahzad Haider Khan

AUDITORS

Crowe Hussain Chaudhray & Co Chartered Accountants

LEGAL ADVISORS

A.G.H.S Law Associates

BANKERS

JS. Bank Limited MCB Bank Limited

Habib Metropolitan Bank Limited Faysal Bank Limited

Bank Al-Habib Limited

REGISTERED OFFICE/WORKS

HEAD OFFICE

SHARE REGISTRAR OFFICE

Plot No. 26-28, Industrial Triangle, Kahuta Road, Islamabad

Tel: 051 -4490017-20, Fax: 051-4490016 & 4492803

Email. corporate@punjaboilmills.com Website: https://www.punjaboilmills.com

19-A/l, Block E-II, Gulberg III, Lahore. Tel: 042-35761585-6

Email: corporate@punjaboilmills.com Mls Corplink (Private) Limited

Wings Arcade, 1-K, Commercial Model Town,

Lahore

Tel: 042 -35916714, 35916719 Fax: 042 -35869037

Email: corp1ink786@gmai1.com

‌Punjab Oil Mills Limited

Directors' Review Report Operating Performance:

During the nine months ended 31 March 2025, Punjab Oil Mills Limited achieved net sales of PKR 6.94 billion, reflecting a 12.13% increase from PKR 6.19 billion in the same period last year. The growth was driven by better channel mix, including industrial and HORECA gains, and improved geographic penetration.Despite the top-line growth, gross profit declined to PKR 698 million, down 5.12% from PKR 736 million, due to rising input costs. The cost of sales surged by 14.46% to PKR 6.24 billion, primarily driven by a rise in raw material and other inputs at the same time. Gross margin dropped to 10%,down from 11.9% for the same period last year.

Operating profit declined by 5.1% to PKR 172 million compared to PKR 182 million last year. Selling and distribution costs were curtailed by 10.6%, reaching PKR 279 million, driven by lower advertisement spend and outbound carriage optimization. However, administrative expenses rose by 2% to PKR246.6 million.

Finance cost decreased by 19.7% to PKR 101.5 million, largely due to reduction in interest rates as compared to same period last year and at the same time reduce reliance on short-term borrowings. However, other charges shot up to PKR 42.7 million from PKR 7.6 million due to ECL provisioning (PKR 31.4 million) and increased statutory fund allocations. Despite higher cost pressures, profit before tax rose to PKR 96.2 million, up 13.87% from PKR 84.5 million. However, elevated taxation of PKR 89.00 million limited net profit after tax to PKR 7.1 million, virtually flat compared to PKR 7.02 million last year. The quarter ended 31 March 2025 was notably strong, with net sales of PKR 2.75 billion and net profit after tax of PKR 51.2 million, reflecting significant progress over Q3 FY24 (net profit: PKR 6.4 million).

Outlook for rest of the Year:

POML has embarked on a strong growth trajectory. Despite facing multiple challenges and uncertain market conditions, the ongoing restructuring of the entire commercial framework is beginning to deliver positive results. Key regions such as KPK are being reactivated with the deployment of critical human resources.

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In addition to its Sales and Distribution initiatives, the company is preparing to rebrand its flagship products to better connect with anew, more discerning

‌Punjab Oil Mills Limited

consumer segment. This effort also encompasses brand and line extension projects that are currently under development.

To support the upcoming launch of its Canned Food and Coffee portfolios, POML is appointing a dedicated Business Manager to oversee these initiatives.

Acknowledgements

We would like to take this opportunity to thank our customers, suppliers, and bankers for their continued support and cooperation towards the progress of the company.

We hope that this support will continue in the future as well. We would also like to thank our dedicated and talented team of executives, staff, and workers for their hard work during this period. We expect continued efforts from our employees to achieve better results in the coming months.

And last, but not least, the management is thankful to the board for its strong support and guidance in executing the vision and objectives set for the company.

For & on behalf of the board

(TAHIR JAHANGIR)

Chairman

Islamabad:

Date: April 29, 2025

(MUHAMMAD EHTISHAM)

Chief Executive Officer

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‌Current Assets

Stores, spare parts and loose tools

143,474,455

140,963,595

Stock in trade

457,118,614

415,049,729

Trade debD

1,419,374,207

1,172,568,821

Advances, deposits, prepayments and other receivables

368,574,918

212,559,609

Cash and bank balances

99,792,990

81,012,746

2,488,335,184

2,022,154,500

4,815,917,958

Punjab Oil Mills Limited

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

33 Mar 2025 30 June 2024

Rupees Rupees

(Un-Audited) (Audited)

EQUITY AND LIABILITIES

Share Capital and Reserves

Authorized share capital

10,000,000 (2024: 10,000,000) ordinary shares of Rs. 10 each 100,000,000 100,000,000

Issued, subscribed and paid - up capital Reserves

Surplus on revaluation of property, plant and equipment Shareholders' Equity

Non Current Liabilities

Lease liabilities againn right of use assets Deferred tax liability

Deferred liabilities

Current Liabilities Trade and other payables Short term borrowings

Current portion of lease liabilities Accrued mark up

Unclaimed dividend Provision for taxation

77,625,380

823,639,422

1,727,983,913

2,629,248,715

77,625,380

797,361,201

1,747,171,326

2,622,157,907

28,071,386

51,801,911

110,633,205

11,549,312

49,486,451

118,998,252

1,121,253,505

700,434,315

8,070,557

11,981,542

10,512,671

143,910,152

1,996,162,741

527,610,797

817,396,231

3,789,971

18,723,766

10,512,671

157,781,286

1,535,814,722

Contingencies and Commitments

4,815,917,958

ASSETS

Non Current Assets Property, plant and equipment Intangible assets

Investment in associate Long term deposits Long term loan

2,164,473,238

14,303,723

145,858,850

2,946,963

2,327,582,774

2,157,547,067

18,409,962

136,858,850

3,036,265

The annexed notes form an integeral part of these financial information.

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR / CHAIRMAN

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	‌31-Mar-25	31-Mar-24	31-Mar-25	31-Mar-24
	Rupees	Rupees	Rupees	Rupees

Sales - net

6,942,752,842

6,191,587,715

2,752,244,708

2,329,686,936

Cost of sales

(6,244,452,489)

(5,455,573,585)

(2,484,199,315)

(2,064,361,788)

Gross profit

698,300,353

736,014,130

268,045,393

265,325,148

Operating Expenses

Selling and distribution cost

(279,227,938)

(312,500,286)

(98,845,928)

Administrative expenses

(246,566,281)

(241,714,915)

(82,227,557)

(525,794,219)

(554,215,201)

(181,073,485)

(205,459,711)

Operting Profit

172,506,134

181,798,929

86,971,908

59,865,437

Finance cost

(I 01,496,762)

(126,451,534)

(27,497,067)

Other operating expenses

(42,833,802)

(7,593,128)

(5,182,630)

(144,330,564)

(134,044,662)

(32,679,697)

(40,966,481)

28,175,570

47,754,267

54,292,211

18,898,956

Other income

68,015,109

36,719,265

30,234,052

16,606,206

Profit before tax

96,190,679

84,473,532

84,526,263

35,505,162

Income tax

(89,099,871)

(77,450,086)

(33,302,593)

(29,128,668)

Net Profit / (Loss) for the period

7,090,809

7,023,446

51,223,671

6,376,494

Earnings per share - Basic and diluted

0.91

0.90

6.60

0.82

Punjab Oil Mills Limited

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS ACCOUNT (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED 31 MARCH, 2025

Nine months period ended

Quarter Ended

The annexed notes form an integral part of this condensed interim financial information.

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR / CHAIRMAN

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‌Quarter Ended

March 31,

2025

March 31,

2024

Punjab Oil Mills Limited

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED) FOR THE MONTHS AND QUARTER ENDED 31 MARCH, 2025

-------------------Un-audited-------------------

Rupees Rupees Rupees Rupees

Net Profit / (Loss) for the period

7,090,809

7,023,446 51,223,671

6,376,494

Other Comprehensive Income for the Period

Items thot will not be reclassified subsequently

Items that may be reclassified subsequently to profit or loss

Total Comprehensive Income / (Loss) for the Period

7,090,809

7,023,446 51,223,671 6,376,494

The annexed notes form an integral part of this condensed interim financial information.

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR / CHAIRMAN

March 31,

2024

March 31,

2025

Nine Months Period Ended

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‌CASH FLOWS FROM OPERATING ACTIVITIES

March 31,

2025

Un-audited

Rupees

March 31,

2024

Un-audited

Rupees

Profit before taxation

96,190,679

84,473,532

Adjustment for:

- Workers' profit participation fund

8,154,353

4,563,300

- Workers' welfare fund

2,743,161

1,817,078

- Gain on disposal of property, plant and equipment

(5,783,282)

(606,504)

- Provision for staff retirement benefits

11,455,226

16,422,420

- Depreciation

42,969,237

41,562,532

- Amortization on Intangibles

4,106,239

630,800

- Finance cost

101,496,762

126,451,534

165,141,695

190,841,160

Operating Profit before working capital changes

261,332,374

275,314,692

(Increase) / decrease in current assets

Stores, spare parts and loose tools

(2,510,860)

9,057,617

Stock in trade

(42,068,885)

302,547,629

Trade debts

(246,805,386)

(439,789,269)

Advances, deposits prepayments and other receivables

(142,305,111)

(36,600,069)

Increase / (decrease) in current liabilities

Trade and other payables

594,289,352

214,726,285

160,599,110

49,942,193

Cash Generated from Operations

421,931,484

325,256,885

Workers' profit participation fund paid

(7,684,264)

(8,494,014)

Workers' welfare fund paid

(3,859,893)

Staff retirement benefits paid

(19,820,273)

(11,965,799)

Finance cost paid

(108,238,987)

(123,990,552)

Income tax paid

(114,365,744)

(97,529,885)

Dividend paid

(11,399,951)

(253,969,160)

(253,380,201)

Net Cash Generatea morn / (Usea i•) Operating Activities

167,962,324

71,876,684

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment

(4,485,658)

(11,814,275)

Proceeds from disposal of property, plant and equipment

6,390,000

700,000

Lease rentals paid

(3,745,202)

(5,192,708)

Right of use assets

(13,683,474)

Capital work in progress

(7,874,434)

(18,240,120)

Intangible assets

(8,831,160)

Long term deposits

(9,000,000)

(21,237,550)

Net Cash Used in Investing Activities

(32,398,768)

(64,615,813)

CASH FLOWS FROM FINANCING ACTIVITIES

Long term loans- receipts

Short term borrowings - net

Net Cash Generated from Financing Activities

(116,783,312)

(36,349,989)

Net Used in Cash and Cash Equivalents

18,780,244

(29,089,118)

Cash and Cash Equivalents at the beginning of the Period

81,012,746

71,372,460

Cash and Cash Equivalents at the End of the Perioa

99,792,990

42,283,342

The annexed notes form an integral part of these financial statements

Punjab Oil Mills Limited

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED 31 MARCH, 2025

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR / CHAIRMAN

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‌Revenue Reserves

794,461,816

2,667,747,690

7,023,446

17,695,782)

17,695,782

77,625,380

23,137,159

1,746,227,553

8,600,000

807,537,237

2,663,127,329

77,625,380

23,137,159

1,747,171,326

8,600,000

765,624,042

2,622,157,907

7,090,809

19, I87,413

77,625,380

23,137,159

1,727,983,913

8,600,000

791,902,263

2,629,248,715

Punjab Oil Mills Limited

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED 31 MARCH, 2025

77,625,380 23,137,159 1,763,923,335 8,600,000

(I36,277,630)

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR / CHAIRMAN

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‌Punjab Oil Mills Limited

NOTES TO THE CONDENSED INTERIM FINANCIAL INFORMATION (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED 31 MARCH, 2025

LEGAL STATUS AND OPERATIONS

Punjab Oil Mills ('the company') was incorporated in Pakistan as a Public Limited Company. Its shares are quoted on Pakistan Stock Exchange Ltd. It is mainly engaged in the manufacturing and sale of Ghee, Cooking Oil, Speciality Fats, laundry Soap, Mushroom and coffee.

BASIS OF PREPARATION

This condensed interim financial information is un-audited and has been prepared in accordance with the requirements of International Financial Reporting Standard (IFRS) IAS 34 as applicable in Pakistan.This condensed interim financial information and disclosures required for full annual financial statements, and should be read in conjunction with the financial statements of the Company for the year ended 30 June , 2024.

This condensed interim financial information is being submitted to the shareholders as required by the listing regulation of Pakistan Stock Exchange Limited and Section 237 of the Companies Act , 2017.

3 SIGNIFICANT ACCOUNTING POLICIES

The accounting policies and method of computation which have been used in the preparation of this condensed interim financial information are the same as those applied in the preparation of the financial statements for the preceding year ended 30 June , 2024.

NON-ADJUSTING EVENTS AFTER BALANCE SHEET DATE

The Board of Directors in its meeting held on 29 Apri1,2025 declared the issuance of bonus share @ NIL and interim cash

dividend @ NIL

DATE OF AUTHORIZATION FOR ISSUE

This condensed interim financial information was authorized for issue on 29 April, 2025 by the Board of Directors of the Company.

GENERAL

Figures have been rounded off to the nearest of rupees, unless otherwise stated.
Comparative figures have been rearranged and reclassified, where necessary, for the purpose of better presentation and

CHIEF EXECUTIVE OFFICER

CHIEF FINANCIAL OFFICER

DIRECTOR / CHAIRMAN

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