CONTENTS
Page No. | |
Company Information | 01 |
Directors` Review Report | 02 |
ٹروپر هزئاج ﯽﮐ زرٹکيرئاڈ | 04 |
Condensed Interim Statement of Financial Position | 06 |
Condensed Interim Statement Profit or Loss Account (Unaudited) | 07 |
Condensed Interim Statement of Comprehensive Income (Unaudited) | 08 |
Condensed Interim Cash flow Statement (Unaudited) | 09 |
Condensed Interim Statement of Changes in Equity (Unaudited) | 10 |
Notes to and forming part of the Condensed Interim Financial Statements | 11 |
Company Information
Board of Directors | ||
Mr. Fakhir Ahmed | : | Chairman |
Mr. Muhammad Atif | : | Chief Executive |
Mr. Muhammad Siraj | : | Director |
Mr. Salman Haroon | : | Director |
Mr. Qazi Muhammad lmran | : | Director |
Ms. Hina Faiyaz | : | Independent Director |
Ms. Saba Irfan | : | Independent Director |
Audit Committee | ||
Ms. Hina Faiyaz | : | Chairperson |
Mr. Muhammad Siraj | : | Member |
Ms. Saba lrfan | : | Member |
HR & Remuneration Committee | ||
Ms. Saba lrfan | : | Chairperson |
Ms. Hina Faiyaz | : | Member |
Mr. Fakhir Ahmed | : | Member |
Company Secretary | : | Mr. Iqbal Shahid |
Bankers | : | United Bank Limited |
: | Habib Bank Limited | |
: | Meezan Bank Limited | |
: | Bank Alfalah Limited | |
: | MCB Bank Limited | |
: | Habib Metropolitan Bank Limited | |
: | BankIslami Pakistan Limited | |
Auditor | : | Aslam Malik & Co. |
Chartered Accountants | ||
Legal Advisor | : | Ahmed & Qazi |
Advocates & Legal Consultants | ||
Share Registrar | : | F.D.Registrar Services (Pvt.) Ltd |
Office No. 1705, 17th Floor, | ||
Saima Trade Tower-A, | ||
I.I Chundrigar Road, | ||
Karachi | ||
Registered Office | : | WS7, Mezzanine Floor |
Madina Palace, Faran | ||
Co-operative Housing Society | ||
Dhoraji Colony | ||
Karachi |
First Quarterly Report | 1 |
Directors' Review Report
The Directors of Quice Food industries Limited (the "Company") are pleased to submit Interim Financial Statements of the Company for the 1st quarter ended September 30, 2024.
Financial Highlights | ||
Description | September 30, 2024 | September 30, 2023 |
--------------------Rupees in million---------------- | ||
Sales | 278.857 | 110.912 |
Gross profit | 53.047 | 22.254 |
Profit/Loss after taxation | 1.232 | (3.629) |
Earnings/Loss per share - Rs | 0.013 | (0.037) |
Your Company delivered strong performance in the first quarter of 2024, inspite of high interest rate, high inflation and economic contraction.
During the period under review your Company achieved sales of Rs 278.857 million as compared to Rs 110.912 million over the same corresponding period last year resulting in a favorable variance of 151.42%.
The Company achieved this tremendous growth in sales due to increase in export sales and local sales, which was driven by surge in demand of our products locally and in international market.
Gross profit of the Company has also significantly improved by 138.37%, on account of cost optimization initiatives taken by the management of the Company.
In the 1st quarter, the Company has made a significant turnaround, and our efforts were rewarded with profit of Rs. 1.232 million against a loss of Rs. 3.629 million same period last year, this was mainly attributable due to our strategy driven to alleviate losses by curtailing cost across all operations of the Company.
The earnings per share of your Company for the first quarter ended 30 September 2024 is Re. 0.013 as compared to loss per share of Re. 0.037 during the same period last year.
First Quarterly Report | 2 |
FUTURE OUTLOOK
Finance bill 2024-2025 has imposed numerous taxes (direct and indirect), especially 20% Federal Excise Duty (FED) on juices, which has impacted our local business and operations. Further, incessant political instability, increase in electricity cost, wages, and raw material cost are some of factors which are putting pressure on margins. Moreover, economic conditions in coming months are likely to remain overwhelming.
Despite, this the Board and the management is hopeful at earning and consolidating our position and further improving margins through dedication and commitment and implementing cost efficiencies across manufacturing processes.
ACKNOWLEDGEMENT
The Board appreciates the hard work and the efforts put in by the employees of the Company.
We also like to thank our Shareholders for their unfaltering support and confidence in the Company.
FOR AND ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive | Chairman |
Date: October 28, 2024
Karachi.
First Quarterly Report | 3 |
ٹرو ر هزئاج ز ک ئاڈ
ینپمک ےيل ےک یہام ہس یلہپ یلاو ےنوہ مﺘخ وک 2024 رﺒمﺘس 30 زرٹکيرئاڈ ےک ("ینپمک") ڈٹيمل زيرٹسڈنا ڈوف زئوک ۔ ںيہ شوخ رپ ےنرک شيپ تانايب یتايلام یروﺒع ےک
ںا | لھج | ا لام | ||||||||||||||||||||||||||
2023 | متس30 | 2024 | متس30 | ل صفت | ||||||||||||||||||||||||
م | ور | لم | ٓ | |||||||||||||||||||||||||
110.91 | 278.857 | |||||||||||||||||||||||||||
دما | ||||||||||||||||||||||||||||
22.25 | 53.047 | ﻊﻓﺎﻨم | ومجم | |||||||||||||||||||||||||
(3.63) | 1.232 | نﺎصقن ﻊﻓﺎﻨم دع | ﺲﮑ ٹ | |||||||||||||||||||||||||
(0.04) | 0.013 | نﺎصقن | دمآ ﺺصﺣ | |||||||||||||||||||||||||
طوبضم دوجوﺎ | ؤاڑﮑﺳ یدﺎصتقا روا | ﺎ ﻨہم ،دوﺳ ح | ٰعا | م | ﺎم ﮧﺳ | ہپ | 2024 | پم | پآ | |||||||||||||||||||
ﺶ پ | درکرﺎ | |||||||||||||||||||||||||||
تدم | ا | لﺎﺳ ﮧتﺷزﮔ ﮧکوج | ﻞﺻﺎﺣ تخورﻓ | ور | ﻠم 278.857 | پم | پآ نارود | تدم هزئﺎج ر ز | ||||||||||||||||||||
۔ و | م | ﯿ ن | تا | ﻐﺗ قﻓاوم | . | م | بﺎقم | ور | ﻠم 110 | . | 912 نارود | |||||||||||||||||
دص ﻓ 151 42 | ||||||||||||||||||||||||||||
ﮧکوج ، | ﻞﺻﺎﺣ | ﮧجو | ﺎضا | م تخورﻓ | ﺎقم روا تخورﻓ یدمآرب | رﺗ تﺳدر ز ﮧﯾ | م تخورﻓ | پم | ||||||||||||||||||||
۔ | ﮧجو | ﺎضا | م ﮓنﺎم | تﺎعوﻨصم یرﺎم | م ﭧ کرﺎم | اوقﻻا | ب روا | ﺎقم | ||||||||||||||||||||
ہب وک ت ﻻ | فرط | ﮧﯿمﺎظتنا | پم ، | آ ی | ہب ںﺎ ﺎمن دص ﻓ 138.37 | ب | م ﻊﻓﺎﻨم | ومجم | پم | |||||||||||||||||||
۔ | ﮧجو | تﺎمادقا | ﺎﻨب | |||||||||||||||||||||||||
ازاون | ﻊﻓﺎﻨم | ور | ﻠم 1.232 وک ںوشﺷوک یرﺎم روا ، | ﻻ | د ﺗ م | ا ﮏ ا | پم | ، | م | ﺎم ﮧﺳ | ہپ | |||||||||||||||||
یرﺎم | رپ روط یدﺎ | ب ﮧﯾ ،ﺎﮭﺗ | م | بﺎقم | نﺎصقن | ور | ﻠم 3.629 | رع | ا | لﺎﺳ | ﮭچ | ﮧکوج ﺎﮭﺗ ﺎ ﮔ | ||||||||||||||||
۔ت ﻻ | ش | پآ مﺎمﺗ | پم ۔ | ﺗ | ﮔ | ﻼچ | ﻟ | رک م وک تﺎنﺎصقن وج ﺎﮭﺗ | ﮧجو | مع تم ﺣ | ||||||||||||||||||
30 ﮧﮑ ج | . | دمآ ﺺصﺣ | پم | پآ | ﻟ | ﺎم ﮧﺳ | ہپ | او | و متخ وک 2024 | متﺳ | ||||||||||||||||||
ور 0 013 | ||||||||||||||||||||||||||||
۔ | م | بﺎقم | نﺎصقن | ﯿﺷ | ور 0.037 نارود | تدم | ا | لﺎﺳ | ﮭچ | |||||||||||||||||||
ل ٹؤآ ا | ل قتسم | |||||||||||||||||||||||||||
زئﺎﺴﮑ ا لرڈ ﻓ %20 رپ سوج رپ روط صﺎخ ،(ﮧطﺳاوﻟﺎ روا تﺳار هارب) ﺲﮑ ٹ ددعتم | 2025-2024 ﻞ ﺲ ﺎﻨﻓ | |||||||||||||||||||||||||||
مﺎ حتﺳا مدع | ﺎ ﺳ ﻞﺴﻠﺴم ،د م ۔ | ﺎ کرﺛﺎتم وک | ش | پآ روا رﺎ ورﺎ | ﺎقم | رﺎم | ﺲج ، | دئﺎع | وﯾڈ، | |||||||||||||||||||
د | م ۔ | ﮨ | ر لاڈ ؤﺎ د رپ نجرﺎم وج | ﮨ ﻞماوع | ا ﮫچک تم ق | لﺎم مﺎخ روا ،ترجا ،ﮧﻓﺎضا | م تم ق | ج | ||||||||||||||||||||
۔ | نﺎ ما ﺎ | ر تﺳدر ز تﻻﺎﺣ | ﺎعم | م ںوﻨﯿہم او | آ ،ںآرب | |||||||||||||||||||||||
د | م وک نجرﺎم | رذ | مزع روا ن | ﻟ روا | رک طوبضم روا | ﺎم وک نش زوپ یرﺎم | ﮧﯿمﺎظتنا روا ڈروب ،دوجوﺎ | سا | ||||||||||||||||||||
۔ د ما رپ | ﻟ | رکو ﻻ وکدادعتﺳا | ت ﻻ | م ﻞمع | ﮓنرچﮑ ﻓوﻨﯿم روا | ﺎﻨب ہب |
First Quarterly Report | 4 |
فا | عا | |||||
۔ | ﺎت ا | وک ںوشﺷوک روا تﻨحم | مزﻼم | پم | ڈروب | |
۔ ﻟ دﺎمتعا روا ت ﺎمﺣ لزﻟ م غ نا | م | پم | ﮧک ﮨ ﺎچ ﺎنرکادا ﮧ ﮑﺷ | ب ﺎ زرڈﻟو | ﯿﺷ | پا م |
بناج | ز | ک | ئاڈ فآ ڈروب |
وٹﯿﮑ گ ا ف چ | م ﯿچ |
2024 ر ت ا 28 خــــ رات ارک
First Quarterly Report | 5 |
QUICE FOOD INDUSTRIES LIMITED
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UNAUDITED) AS AT SEPTEMBER 30, 2024
Note
ASSETS
NON-CURRENT ASSETS
Fixed Assets
Unaudited Audited Sep-30, 2024 June-30, 2024
- - - - Rupees - - - -
Property, Plant and Equipment5 Long term deposits
CURRENT ASSETS Stores and spares
Stock-in-trade6 Trade debts
Advances, deposits, prepayments & other receivables Taxation - net
Cash and bank balances
TOTAL ASSETS
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Authorized share capital
105,100,000 (30 June 2024: 105,100,000) ordinary shares of Rs 10 each
Issued, subscribed and paid up share capital and reserves
98,461,828 (June 2024 : 98,461,828) ordinary shares of Rs.10 each Reserves
Discount on issuance of shares
Surplus on revaluation of property, plant and equipment
Total equity
LIABILITIES
NON-CURRENT LIABILITIES
339,679,417
6,603,800
346,283,217
47,580,667
566,226,201
63,931,592
163,262,176
22,097,531
1,082,229
864,180,396
1,210,463,613
1,051,000,000
984,618,280
(281,025,748)
(282,788,556)
27,186,605
447,990,581
328,594,122
6,603,800
335,197,922
50,317,272
666,424,912
54,647,587
147,337,700
18,146,998
2,115,761
938,990,230
1,274,188,152
1,051,000,000
984,618,280
(282,573,536)
(282,788,556)
27,457,615
446,713,803
Deferred liabilities
Security deposit payables
CURRENT LIABILITIES
Trade and other payables
CONTINGENCIES AND COMMITMENTS | 7 |
TOTAL EQUITY AND LIABILITIES
13,226,894
144,500,000
157,726,894
604,746,138
-
1,210,463,613
12,384,567
144,500,000
156,884,567
670,589,782
-
1,274,188,152
The annexed notes form an integral part of these condensed interim financial Statements.
_____________________ | '____________ | ____________________ |
Chief Executive Officer | Director | Chief Financial Officer |
First Quarterly Report | 6 |
QUICE FOOD INDUSTRIES LIMITED
CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2024
Note
Quarter Ended
(Restated)
Sep-30, 2024 Sep-30, 2023
- - - - Rupees - - - -
SALES
Cost of Sales
GROSS PROFIT
Distribution Cost
Administrative Expenses
Operating Profit / Loss
Other Operating Income
Finance Cost
PROFIT / LOSS BEFORE LEVIES AND TAXATION
Levies
PROFIT / LOSS BEFORE TAXATION
Taxation
PROFIT / LOSS AFTER TAXATION
EARNING / LOSS PER SHARE
278,857,082
(225,809,699)
53,047,383
(34,584,710)
(12,779,240)
(47,363,950)
5,683,433
652,623
6,336,056
(3,804)
6,332,252
(5,100,376)
1,231,876
-
1,231,876
0.013
110,912,474
(88,657,916)
22,254,558
(13,852,218)
(11,435,471)
(25,287,689)
(3,033,131)
568,284
(2,464,847)
(4,796)
(2,469,643)
(1,159,584)
(3,629,227)
-
(3,629,227)
(0.037)
The annexed notes form an integral part of these condensed interim financial Statements.
_____________________ | ___________________ | ____________________ |
Chief Executive Officer | Director | Chief Financial Officer |
First Quarterly Report | 7 |
QUICE FOOD INDUSTRIES LIMITED
CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2024
Quarter Ended | |||
Sep-30, 2024 | Sep-30, 2023 | ||
- - - - Rupees - - - - | |||
PROFIT / LOSS AFTER TAXATION | 1,231,876 | (3,629,227) | |
Other comprehensive income that cannot be | |||
classified through profit and loss | - | - | |
TOTAL COMPREHENSIVE INCOME / LOSS FOR THE PERIOD | 1,231,876 | (3,629,227) | |
The annexed notes form an integral part of these condensed interim financial Statements.
_____________________ | ___________________ | ____________________ |
Chief Executive Officer | Director | Chief Financial Officer |
First Quarterly Report | 8 |
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