Interim Financial
Half Year ended
December 31, 2024
(Un-audited)
SALLY TEXTILE MILLS LIMITED
CONTENTS
Company Informaon | 02 |
Directors' Review | 03 |
Independent Auditor's Review Report | 06 |
Condensed Interim Statement of Financial Posion | 08 |
Condensed Interim Statement of Profit or Loss | 10 |
Condensed Interim Statement of Comprehensive Income | 11 |
Condensed Interim Statement of Changes in Equity | 12 |
Condensed Interim Statement of Cash Flows | 13 |
Notes to the Condensed Interim Finanacial Informaon | 14 |
Sally TexÆle Mills Limited
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
02
Interim Financial Report
Directors' Review
The Directors of Sally TexÆle Mills Limited ("the Company") present the half year report of the Company for the
period ended 31st December 2024.
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:
Six months ended | Six months ended | |
Descripon | December 31, 2024 | December 31, 2023 |
Rupees '000' | Rupees '000' | |
Turnover-net | - | |
- | ||
Gross Profit / (Loss) | (14.98) | (15.76) |
Loss before tax | (17.08) | (40.72) |
Loss aer tax | (17.08) | (40.72) |
Loss per share
Loss per share of your company for ended December 31, 2024 is Rs. (1.95) as compared to Rs. (4.64) for the comparave period ended December 31, 2023.
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: February 17, 2025 | MIAN IQBAL SALAHUDDIN |
Lahore. | Chief Execuve Officer |
03
Financial Statements
Sally TexÆle Mills Limited
06
Interim Financial Report
07
Sally TexÆle Mills Limited
Condensed Interim Statement of Financial Posion
For the Six Month Period Ended 31 December 2024
Note | 31-Dec-24 | 30-Jun-24 | ||
Rupees | Rupees | |||
(Un-Audited) | (Audited) | |||
EQUITY AND LIABILITIES | ||||
SHARE CAPITAL AND RESERVES | ||||
Authorized share capital | 200,000,000 | 200,000,000 | ||
Issued share capital | 87,750,000 | 87,750,000 | ||
Revaluation reserve | 204,118,039 | 204,118,039 | ||
Loan from sponsors | 855,588,205 | 853,226,205 | ||
Retained earnings | (1,634,304,492) | (1,617,228,483) | ||
TOTAL EQUITY | (486,848,248) | (472,134,239) | ||
LOAN FROM SPONSORS | 6 | - | - | |
NON-CURRENT LIABILITIES |
Long term finances
Employees retirement benefits
Deferred taxation
-
101,907,337
27,879,434
-
101,907,337
27,879,434
129,786,771 129,786,771
CURRENT LIABILTIES
Trade and other payables
Unclaimed dividend
Short term borrowings
Accrued interest/profit
Current portion of non-current liabilities
418,166,110
1,010,033
722,544,931
386,279,029
310,833,334
418,172,110
1,010,033
722,544,931
386,279,029
310,833,334
1,838,833,437 | 1,838,839,436 | |
TOTAL LIABILITIES | 1,968,620,208 | 1,968,626,207 |
CONTINGENCIES AND COMMITMENTS | 7 | |
TOTAL EQUITY AND LIABILITIES | 1,481,771,960 | 1,496,491,968 |
The annexed notes from 1 to 16 form an integral part of these interim financial statements.
Lahore | MIAN IQBAL SALAHUDDIN | ABID ALI BAJWA | MIAN YOUSAF SALAHUDDIN |
Date : February 17, 2025 | Chief Execuve | Chief Financial Officer | Director |
08
Interim Financial Report
Condensed Interim Statement of Financial Posion
For the Six Month Period Ended 31 December 2024
Note
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment | 8 |
Long term deposits
CURRENT ASSETS
Stores and spares
Stock in trade
Trade receivables
Short term deposits
Advances and other receivables
Advance income tax
Cash and bank balances
31-Dec-24
Rupees
(Un-Audited)
710,469,743
11,243,604
721,713,347
37,405,935
565,440,498
96,587,763
1,613,107
44,617,101
11,764,760
2,629,448
760,058,613
30-Jun-24 Rupees
(Audited)
725,189,751
11,243,604
736,433,355
37,405,935
565,440,498
96,587,763
1,613,107
44,617,101
11,764,760
2,629,448
760,058,613
TOTAL ASSETS | 1,481,771,960 | 1,496,491,968 |
The annexed notes from 1 to 16 form an integral part of these interim financial statements.
Lahore | MIAN IQBAL SALAHUDDIN | ABID ALI BAJWA | MIAN YOUSAF SALAHUDDIN |
Date : February 17, 2025 | Chief Executive | Chief Financial Officer | Director |
09
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