STATEMENT OF PROFIT OR LOSS ACCOUNT
FOR THE PERIOD ENDED DECEMBER 31, 2024
December 31, | December 31, | |
2024 | 2023 | |
…….Rupees in '000'… | ||
Sales - net | 1,392,461 | 1,079,713 |
Cost of sales | (1,235,162) | (1,142,512) |
Gross profit / (loss) | 157,299 | (62,800) |
Operating expenses | ||
Administrative expenses | (44,497) | (47,285) |
Selling and distribution cost | (1,277) | (1,963) |
(45,774) | (49,248) | |
Operating profit / (loss) | 111,526 | (112,048) |
Finance cost | (13,018) | (13,460) |
Other income / (loss) | 192 | - |
(12,826) | (13,460) | |
Profit / (Loss) before taxation | 98,699 | (125,508) |
Taxation-net | (15,720) | (13,496) |
Profit / (Loss) after taxation | 82,980 | (139,004) |
Earning / (Loss) per share - Basic and | 1.86 | (3.12) |
diluted | ||
Chief Executive Officer | Chief Financial Officer | Director |
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED DECEMBER 31, 2024
December 31, | December 31, |
2024 | 2023 |
….Rupees in '000'……
Profit / (Loss) after taxation
Other comprehensive income for the period - net of tax Total comprehensive income / (loss) for the period
82,980 (139,004)
--
82,980 (139,004)
Chief Executive Officer | Chief Financial Officer | Director |
STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31, 2024
December 31, | September 30, | |
2024 | 2024 | |
……….Rupees in '000'………. | ||
ASSETS | ||
Non-Current Assets | ||
Property, plant and equipment | 3,895,519 | 3,889,804 |
Intangible asset | 930 | 1,014 |
Long-term loans | 758 | 849 |
Long-term deposits | 2,860 | 2,860 |
3,900,066 | 3,894,527 | |
Current Assets | ||
Stores, spares and loose tools | 121,912 | 98,558 |
Stock-in-trade | 336,734 | 37,814 |
Trade debts | 40,541 | 4,762 |
Loans and advances | 50,785 | 67,961 |
Deposit, prepayments and other receivables | 46,134 | 63,239 |
Short term investment | 6,198 | 6,198 |
Cash and bank balances | 50,907 | 49,450 |
653,211 | 327,982 | |
Total Assets | 4,553,278 | 4,222,509 |
EQUITY AND LIABILITIES | ||
Share Capital and Reserves | ||
Authorized share capital | ||
60,000,000 ordinary shares of Rs. 10 each | 600,000 | 600,000 |
Share capital | ||
Issued, subscribed and paid-up capital | 446,160 | 446,160 |
Revenue reserves | ||
Accumulated loss | (1,791,835) | (1,883,598) |
Capital reserves | ||
Surplus on revaluation of property, plant and | ||
equipment-net of deferred tax | 2,086,498 | 2,095,281 |
Directors'/Sponsors' subordinated loan | 92,767 | 92,767 |
833,589 | 750,610 | |
Non-Current Liabilities | ||
Long term financing - secured | 624,073 | 640,873 |
Deferred liabilities | 70,591 | 70,282 |
694,663 | 711,155 | |
Current Liabilities | ||
Trade and other payables | 2,231,764 | 1,968,774 |
Unclaimed dividend | 6,206 | 6,206 |
Accrued mark-up | 509,520 | 499,644 |
Current maturity of long-term financing | 234,618 | 244,818 |
Taxation - net | 42,917 | 41,303 |
3,025,024 | 2,760,744 | |
Total Equity and Liabilities | 4,553,278 | 4,222,509 |
Chief Executive Officer | Chief Financial Officer | Director |
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED DECEMBER 31, 2024
December 31, | December 31, | |
2024 | 2023 | |
……….Rupees in '000'………. | ||
A. CASH FLOWS FROM OPERATING ACTIVITIES | ||
Profit / (Loss) before taxation | 98,699 | (125,508) |
Adjustments for non cash charges and other items : | ||
Depreciation | 20,332 | 17,460 |
Amortisation | 84 | 125 |
Finance cost | 9,876 | 13,409 |
Provision for gratuity | 308 | - |
(Gain) on sale of fixed assets | 8 | - |
Cash generated from operation before working capital changes | 30,608 | 30,994 |
Working capital changes | ||
(Increase) / decrease in current assets | ||
Stores, spares and loose tools | (23,354) | (21,064) |
Stock-in-trade | (298,920) | (492,719) |
Trade debts | (35,780) | (16,309) |
Loans and advances | 17,176 | (11,402) |
Prepayments and other receivables | 17,105 | (2,134) |
(323,773) | (543,628) | |
Increase / (decrease) in current liabilities | ||
Trade and other payables | 262,995 | 880,241 |
Cash generated from operations | 68,529 | 242,098 |
Taxes paid | (14,106) | (745) |
Net cash generated from operating activities | 54,423 | 241,353 |
B. CASH FLOWS FROM INVESTING ACTIVITIES | ||
Property, plant and equipment | (26,071) | (12,045) |
Proceed from disposal of property, plant and equipment | 15 | - |
Short term investment | - | 10,000 |
Net cash used in investing activities | (26,056) | (2,045) |
C. CASH FLOWS FROM FINANCING ACTIVITIES | ||
Long term financing - secured | (27,000) | (4,400) |
Long term loans to employees | 91 | (1,080) |
Net cash used in financing activities | (26,909) | (5,480) |
Net increase / (decrease) in cash and cash equivalents | 1,458 | 233,828 |
Cash and cash equivalents at the beginning of the period | 55,647 | 5,611 |
Cash and cash equivalents at the end of the period | 57,105 | 239,438 |
Chief Executive Officer | Chief Financial Officer | Director |
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED DECEMBER 31, 2024
Un-appropriated | Surplus on | Directors' / | |||
Issued, subscribed | revaluation of | sponsors' | |||
profit / | Total | ||||
& paid-up capital | property, plant | subordinated | |||
Accumulated loss | |||||
and equipment | loan | ||||
…………………………..….Rupees in '000'…………………………..…. | |||||
Balance as at October 01, 2023 | 446,160 | (1,672,931) | 2,131,205 | 92,767 | 997,201 |
Profit / (Loss) after taxation | - | (139,004) | - | - | (139,004) |
Other comprehensive income for the period | - | - | - | - | - |
Total comprehensive income / (loss) for the period | - | (139,004) | - | - | (139,004) |
Transferred from revaluation surplus on property, plant and equipment | |||||
on account of incremental depreciation- net of tax | - | 8,258 | (8,258) | - | - |
Balance as at December 31, 2023 | 446,160 | (1,803,677) | 2,122,946 | 92,767 | 858,196 |
Balance as at October 01, 2024 | 446,160 | (1,883,598) | 2,095,281 | 92,767 | 750,610 |
Profit / (Loss) after taxation | - | 82,980 | - | - | 82,980 |
Other comprehensive income for the period | - | - | - | - | - |
Total comprehensive income / (loss) for the period | - | 82,980 | - | - | 82,980 |
Transferred from revaluation surplus on property, plant and equipment | |||||
on account of incremental depreciation- net of tax | - | 8,783 | (8,783) | - | - |
Balance as at December 31, 2024 | 446,160 | (1,791,835) | 2,086,498 | 92,767 | 833,589 |
Chief Executive Officer | Chief Financial Officer | Director |