Interim Financial
Nine Months ended
March 31, 2025
(Un-audited)
SALLY TEXTILE MILLS LIMITED
CONTENTS
Company Informaon | 01 |
Directors' Review | 02 |
Condensed Interim Statement of Financial Posion | 04 |
Condensed Interim Statement of Profit or Loss | 06 |
Condensed Interim Statement of Cash Flows | 07 |
Condensed Interim Statement of Changes in Equity | 09 |
Notes to the Condensed Interim Finanacial Informaon | 10 |
Interim Financial Report
Company Informaon | |
Board Of Directors | |
Mian Iqbal Salahuddin | Chief Execuve Officer |
Mst. Munira Salahuddin | |
Mian Yousaf Salahuddin | |
Mian Asad Salahuddin | |
Mian Sohail Salahuddin | |
Muhammad Khalil Laf | |
Syed Abid Raza Zaidi | |
Audit Commiee | |
Muhammad Khalil Laf | Chairman |
Mian Asad Salahuddin | Member |
Mian Sohail Salahuddin | Member |
Syed Abid Raza Zaidi | Secretary |
Human Resources & Remuneraon Commiee
Muhammad Khalil Laf | Chairman |
Mst. Munira Salahuddin | Member |
Mian Sohail Salahuddin | Member |
Chief Financial Officer
Mr. Abid Ali Bajwa
Company Secretary
Syed Abid Raza Zaidi
Auditors
H.A.M.D & Co.
Chartered Accountants
Bankers
Naonal Bank Of Pakistan
Silk Bank Limited
The Bank of Punjab
Meezan Bank Limited
Habib Bank Limited
Registered Office
2-S, Gulberg II, Lahore.
Phones : (042) 35759002
E-mail : sallytex@hotmail.com
Fax | : (042) 35754394 |
Mills
Muzaffargarh Road, Jauharabad
Phones: (0454) 720645, 720546, 720311
01
Sally TexÆle Mills Limited
Directors' Review
The Directors of Sally TexÆle Mills Limited ("the Company") present the 3rd quarter report of the Company for the
period ended 31st March 2025.
Overview - Performance review
During the period under review, mill operaons had been shut down due to negave viability. As evident from our accounts, there was no business conducted.
The financial results in a summarized form are given hereunder:
Nine months ended | Nine months ended | |
Descripon | March 31, 2025 | March 31, 2024 |
Rupees '000' | Rupees '000' | |
Turnover-net | - | |
- | ||
Gross Profit/(Loss) | (21,894) | (23,637) |
Loss before tax | (25,878) | (75,057) |
Loss aer tax | (25,878) | (75,057) |
Acknowledgement
Yours directors record with appreciaon the resolve of company's limited staff members who are connuing their efforts to manage this present predicament. Your directors also extend their appreciaon to all company's stakeholders for their cooperaon.
For and on behalf of the board
Date: April 23, 2025 | MIAN IQBAL SALAHUDDIN |
Lahore. | Chief Execuve Officer |
02
Interim Financial Report
2025
Nine months ended | Nine months ended | |
Descripon | March 31, 2025 | March 31, 2024 |
Rupees '000' | Rupees '000' | |
Turnover-net | - | |
- | ||
Gross Profit/(Loss) | (21,894) | (23,637) |
Loss before tax | (25,878) | (75,057) |
Loss aer tax | (25,878) | (75,057) |
202523
03
Sally TexÆle Mills Limited
Condensed Interim Statement of Financial Posion
as at March 31, 2025
Note
EQUITY AND LIABILITIES
Autherized share capital
20,000,000 ordinary shares of Rs. 10 each
Share capital and reserves
Issued, subscribed and paid-up capital
Surplus on revaluaon of property, plant and equipment
Loan from sponsors
Accumulated Loss
Loan from sponsors - Unsecured
Non-current liabilies
Long term finances - Secured
Employees rerement benefits
Deferred taxaon
Current liabilies
Trade and other payables
Unclaimed Dividend
Short term borrowings - Secured8 Accrued interest/mark-up
Current por‰on of non current liabilies
Conngencies and commitments | 9 |
TOTAL LIABILITIES
Un-Audited
March 31
2025
Rupees '000
200,000
87,750
204,118
856,995
(1,643,106)
(494,243)
-
-
101,907
27,879
129,786
418,181
1,010
722,545
386,279
310,833
1,838,848
-
1,474,391
Audited
June 30 2024
Rupees '000
200,000
87,750
204,118
853,226
(1,617,228)
(472,134)
-
-
101,907
27,879
129,786
418,172
1,010
722,545
386,279
310,833
1,838,839
-
1,496,492
Lahore | MIAN IQBAL SALAHUDDIN | ABID ALI BAJWA | MIAN YOUSAF SALAHUDDIN |
Date : April 23, 2025 | Chief Execuve | Chief Financial Officer | Director |
04
Interim Financial Report
Condensed Interim Statement of Financial Posion
as at March 31, 2025
Note
ASSETS
Non-current assets
Un-Audited
March 31
2025
Rupees '000
Audited
June 30 2024
Rupees '000
Property, plant and equipment | 10 | 703,090 |
Long term deposits - Unsecured, Considered good | 11,244 | |
714,333 | ||
Current assets | ||
Stores, spares and loose tools | 37,406 | |
Stock in trade | 11 | 565,440 |
Trade debts | 96,588 | |
Short Term Deposit | 1,613 | |
Advances, prepayments and other receivables | 44,617 | |
Current taxaon | 11,765 | |
Cash and bank balances | 2,629 | |
760,059 | ||
TOTAL ASSETS | 1,474,392 | |
The annexed notes from 1 to 9 form an integral part of this condensed interim financial informaon
725,189
11,244
736,433
37,406
565,440
96,588
1,613
44,617
11,765
2,629
760,059
1,496,491
Lahore | MIAN IQBAL SALAHUDDIN | ABID ALI BAJWA | MIAN YOUSAF SALAHUDDIN |
Date : April 23, 2025 | Chief Execuve | Chief Financial Officer | Director |
05
Sally TexÆle Mills Limited
Condensed Interim Statement of Profit or Loss (Un-audited)
for the nine month ended March 31, 2025
Nine Months Ended
March 31 March 31
20252024
Three Months Ended
March 31 March 31
20252024
Turnover - net
Cost of sales
Gross Profit / (Loss)
Selling and distribu]on expenses Administrave and general expenses
Other operang income
Operang Profit / (Loss)
Finance cost
Noonal interest
Other charges
Rupees '000
(Un-Audited)
-
(21,894)
(21,894)
-
(3,984)
(3,984)
-
(25,878)
-
-
-
Rupees '000
(Un-Audited)
-
(23,637)
(23,637)
-
(5,504)
(5,504)
-
(29,141)
(10,301)
(35,614)
-
Rupees '000
(Un-Audited)
-
(7,192)
(7,192)
-
(1,430)
(1,430)
-
(8,622)
-
-
-
Rupees '000
(Un-Audited)
-
(7,879)
(7,879)
-
(2,359)
(2,359)
-
(10,238)
-
(11,745)
-
Loss before taxaon
Taxaon
Loss aer taxaon
Loss per share - basic and diluted
(25,878)(75,056)
--
(25,878)(75,056)
(2.95)(8.55)
(8,622) (21,983)
--
(8,622) (21,983)
(0.98)(2.51)
The annexed notes from 1 to 9 form an integral part of this condensed interim financial informaon
Lahore | MIAN IQBAL SALAHUDDIN | ABID ALI BAJWA | MIAN YOUSAF SALAHUDDIN |
Date : April 23, 2025 | Chief Execuve | Chief Financial Officer | Director |
06
Interim Financial Report
Condensed Interim Statement of Other Comprehensive Income (Un-audited)
for the nine month ended March 31, 2025
Nine Months Ended | |||
March 31 | March 31 | ||
2025 | 2024 | ||
Rupees '000 | Rupees '000 | ||
(Un-Audited) | (Audited) | ||
Items that may be reclassified subsequently to profit or loss | - | - | |
Items that will not be reclassified to profit or loss | |||
Incremental depreciaon | - | ||
Other comprehensive income before taxaon | - | - | |
Taxaon | - | - | |
Other comprehensive income a er taxaon | - | - | |
Loss aer taxaon | (25,878) | (75,056) | |
Total comprehensive Loss | (25,878) | (75,056) | |
Three Months Ended
March 31 | March 31 | ||
2025 | 2024 | ||
Rupees '000 | Rupees '000 | ||
(Un-Audited) | (Un-Audited) | ||
- | - | ||
- | - | ||
- | - | ||
- | - | ||
- | - | ||
(8,622) | (21,983) | ||
(8,622) | (21,983) | ||
The annexed notes from 1 to 9 form an integral part of this condensed interim financial informaon
Lahore | MIAN IQBAL SALAHUDDIN | ABID ALI BAJWA | MIAN YOUSAF SALAHUDDIN |
Date : April 23, 2025 | Chief Execuve | Chief Financial Officer | Director |
07
Sally TexÆle Mills Limited
Condensed Interim Statement of Cash Flows (Un-audited)
for the nine month ended March 31, 2025
CASH FLOW FROM OPERATING ACTIVITIES
Loss before taxaon
Adjustments for non-cash and other items
Interest / markup on borrowings
Noonal interest
Provision for employees rerement benefits
Depreciaon
Operang Cashflow before changes in working capital
Changes in working capital
Stores, spares and loose tools
Stock in trade
Trade debts
Advances, prepayments and other receivables
Trade and other payables
Cash generated from operaons
Payments for:
Employees rerement benefits
Interest/markup on borrowings
Income tax
Net cash flow from operang ac vies
CASH FLOW FROM FINANCING ACTIVITIES
Net Increase /(decrease) in short term borrowings
Loan from sponsors
Net cash used in financing acvies
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents as at beginning of the year
Cash and cash equivalents as at end of the year
-
The annexed notes from 1 to 9 form an integral part of this condensed interim financial informaon
March 31
2025
Rupees '000
(Un-Audited)
(25,878)
-
-
-
22,100
22,100
(3,778)
-
-
-
-
9
9
(3,769)
-
-
-
-
-
3,769
3,769
-
2,629
2,629
March 31
2024
Rupees '000
(Un-Audited)
(75,056)
10,301
35,614
-
23,279
69,194
(5,862)
11,609
-
(26)
-
(11,609)
(26)
(5,888)
-
-
-
-
(12)
6,650
6,638
750
2,629
3,380
Lahore | MIAN IQBAL SALAHUDDIN | ABID ALI BAJWA | MIAN YOUSAF SALAHUDDIN | |||
Date : April 23, 2025 | Chief Execuve | Chief Financial Officer | Director | |||
08 | ||||||
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