SARDAR CHEMICAL INDUSTRIES LIMITED
COMPANY INFORMATION | |
CHIEF EXECUTIVE | Mrs. Reema Ayaz |
DIRECTORS | Mr. Abdul Rehman Qureshi |
Mrs. Tayybah Mahmood Sadiq | |
Mr. Niaz Ahmed Chughtai | |
Mr. Shahid Aziz (NIT Nominee) | |
Mr. Aitzaz Ahmad Tarar | |
Mr. Fayyaz Ahmed Khan | |
Audit Committee | Mr. Aitzaz Ahmad Tarar |
Mrs. Tayybah Mahmood Sadiq | |
Mr. Fayyaz Ahmed Khan | |
COMPANY SECRETARY | Mr. Niaz Ahmed Chughtai |
AUDITORS | Aslam Malik & Co., Chartered Accountants |
HR & REMUNERATION | Mr. Aitzaz Ahmad Tarar |
Mrs. Tayybah Mahmood Sadiq | |
Mr. Fayyaz Ahmed Khan | |
BANKERS | Allied Bank of Pakistan Ltd. |
Askari Commercial Bank Ltd. | |
LEGAL ADVISORS | Mr. Javaid Iqbal Malik, Advocate |
HEAD OFFICE/SHARE DEPARTMENT 2-A, 2nd Floor, Canal Bank Road, Justice Sardar | |
Iqbal Road, Aziz Avenue, Gulberg-V, Lahore. | |
Ph: (92-42) 35711154, 35710148, 35753402 | |
Fax: (92-42) 35775706 | |
E-Mail:info@sardarchemicals.com | |
Website: www.sardarchemicals.com | |
REGISTERED OFFICE/ FACTORY | Plot. No. 29-B, Road No. 01, |
Gadoon Amazai, Industrial Estate,Topi, | |
Ganduf Road, Swabi (KPK) | |
Ph: (0938) 270792, 270439, 270539 | |
Fax: (0938) 270791 | |
REGISTRAR/TRANSFERAGENT | Corplink (Pvt.) Ltd, Wings Arcade,1-K, |
Commercial, Model Town, Lahore. | |
Ph: 042-35916714,35916719 Fax: 042-35839182 |
SARDAR CHEMICAL INDUSTRIES LIMITED
DIRECTORS' REPORT TO THE SHAREHOLDERS
In the name of Allah, the most gracious, the most merciful.
The Board of Directors of SARDAR CHEMICAL INDUSTRIES LIMITED are pleased to present their report on the statement of accounts of the Company for the half year ended on December 31, 2024 along with un-audited financial statements, subject to limited review of the statutory Auditors of the Company.
RESULTS FOR THE HALF YEAR ARE SUMMARIZED AS UNDER:
20242023(Rupees in thousands)
Sales-Net | 255,990 | 266,644 |
Cost & Expenditures | 228,145 | 220,250 |
Profit/ (Loss) before taxation | 27,845 | 46,394 |
Profit/ (Loss) after taxation | 19,758 | 33,145 |
Earnings/ (Loss) per share (Rs.) | 3.29 | 5.52 |
Due to high competition in the local market and decrease in prices of dyes in the international market, we have given discounts to our customers on our products in order to compete in the prevailing market scenario which contributed to a decrease in value of our sales by 4% as compared to the previous half year results ended on December 31, 2023. At the same-time we were triumphant in expanding our sales volume in the market.
Our major consumption of dyes is textile which is continued to remain slow both for local as well as export during the current half year December 31, 2024 mainly due to higher energy cost, commodity prices and continuing Russia-Ukraine and middle east conflicts.
In addition to above, the imposition of the advance tax on sales to distributors, dealers and wholesalers and withdrawal of sales tax exemption, our wholesalers have started importing their goods instead of purchasing from the local manufacturers. This inflation in prices further hampered our sales.
FUTURE PROSPECTS
However, it is encouraging to note that country's economic indicators are showing sign of stabilization. Inflation has come down significantly, reaching in a single digit after months pressure. The stability of the exchange rate will play a vital role in the coming periods for the industry. The directors are of the opinion that the coming periods will be good for the Company. We will continue to focus on quality products meeting with the international standards along with supply of products well in time to the door-step our valued customers' business place and remedial measures to keep control on cost of our products to get our share from the market.
ACKNOWLEDGMENT
We take opportunity to thank our valued business customers for their continued support, trust and assistance for the progress and prosperity of the Company. The Company also appreciates its staff and workers for their continuous dedication, commitment and support.
For and on behalf of the Board
Dated: February 27th, 2025 | MRS. REEMA AYAZ | FAYYAZ AHMED KHAN |
Place: Gadoon Amazai | Chief Executive | Director |
SARDAR CHEMICAL INDUSTRIES LIMITED | SARDAR CHEMICAL INDUSTRIES LIMITED |
SARDAR CHEMICAL INDUSTRIES LIMITED
INTERIM CONDENSED BALANCE SHEET (UN-AUDITED)
SARDAR CHEMICAL INDUSTRIES LIMITED
AS AT DECEMBER 31, 2024
(Un-audited) | (Audited) | ||
Dec 31, 2024 | June 30, 2024 | ||
Rupees | Rupees | ||
CAPITAL AND LIABILITIES | |||
SHARE CAPITAL AND RESERVES | |||
Authorized: | |||
10,000,000 Ordinary Shares | |||
of Rs. 10/- each. | 100,000,000 | 100,000,000 | |
Issued, Subscribed and Paid-up: | |||
6,000,000 Ordinary shares | |||
of Rs.10/-each fully paid in cash | 60,000,000 | 60,000,000 | |
Share premium | 30,000,000 | 30,000,000 | |
Un-appropriated Profit | 228,695,703 | 214,162,165 | |
318,695,703 | 304,162,165 | ||
NON-CURRENT LIABILITIES |
ASSETS
NON-CURRENT ASSETS
Property, Plant and Equipment
Long term deposit
(Un-audited)
Dec 31, 2024
Rupees
81,420,536
4,792,280
86,212,816
(Audited)
June 30, 2024
Rupees
86,191,447
4,573,230
90,764,677
Obligation under finance lease Long term loan
Deferred tax liabilities
CURRENT LIABILITIES
Current maturity of long-term obligation Short term finance
Creditors, accrued and other liabilities Unclaimed Dividend
5,077,553
32,853,056
4,567,691
42,498,300
6,722,240
35,184,524
36,793,991
3,698,933
82,399,688
6,412,339
34,785,588
3,108,750
44,306,677
6,412,986
35,184,524
36,801,188
2,205,234
80,603,932
CURRENT ASSETS
Stores, spares & loose tools Stock in trade
Trade debts
Advances, deposits, prepayments & other receivables
Taxation - net
Cash & bank balances
812,394
126,867,140
190,039,098
4,477,206
15,956,856
19,228,180
357,380,874
820,773
120,561,011
186,166,984
1,834,816
15,831,349
13,093,163
338,308,097
443,593,690
429,072,774
443,593,690
429,072,774
The annexed notes form an integral part of these financial statements.
Chief Executive
Chief Financial Officer | Director |
SARDAR CHEMICAL INDUSTRIES LIMITED
INTERIM CONDENSED PROFIT OR LOSS ACCOUNT FOR THE HALF-YEAR ENDED DECEMBER 31, 2024 (UN-AUDITED)
Half Year Ended | Quarter Ended | ||||||
31 Dec. | 31 Dec. | 31 Dec. | 31 Dec. | ||||
2024 | 2023 | 2024 | 2023 | ||||
Rupees | Rupees | Rupees | Rupees | ||||
Sales | 255,990,139 | 266,643,638 | 137,849,898 | 116,602,152 | |||
Cost of Sales | (183,121,093) | (178,789,794) | (101,383,293) | (91,868,110) | |||
Gross Profit | 72,869,046 | 87,853,844 | 36,466,605 | 24,734,042 |
OPERATING EXPENSES
SARDAR CHEMICAL INDUSTRIES LIMITED
INTERIM CONDENSED STATEMENT OF COMPREHENSIVE INCOME
FOR THE HALF-YEAR ENDED DECEMBER 31, 2024
(UN-AUDITED)
Half Year Ended | Quarter Ended | ||||||
31 Dec. | 31 Dec. | 31 Dec. | 31 Dec. | ||||
2024 | 2023 | 2024 | 2022 | ||||
Rupees | Rupees | Rupees | Rupees | ||||
Profit/ (Loss) after | 19,757,538 | 33,144,815 | 6,985,266 | 1,128,578 | |||
Taxation | |||||||
Other Comprehensive | -- | -- | -- | -- | |||
Profit | |||||||
Total Comprehensive | |||||||
19,757,538 | 33,144,815 | 6,985,266 | 1,128,578 |
Administrative and General Selling and distribution
Operating Profit/(Loss) for The period
Other Operating Income
Other Operating Expenses
Finance Cost
Profit/ (Loss) before taxation Taxation
Profit/ (Loss) for the period
(32,290,365)
(9,647,512)
(41,937,877)
30,931,168
1,524,472
-
(4,610,531)
27,845,109
(8,087,571)
19,757,538
(25,051,671)
(9,750,480)
(34,802,151)
53,051,693
2,381,313
(3,469,857)
(5,569,044)
46,394,106
(13,249,291)
33,144,815
(18,162,026)
(4,583,578)
(22,745,604)
13,721,000
589,705
-
(2,496,165)
11,814,540
(4,829,274)
6,985,266
(13,088,464)
(5,633,236)
(18,721,700)
6,012,342
1,496,732
(3,469,857)
(2,459,503)
1,579,715
(451,137)
1,128,578
Profit/ (Loss) for the |
Period |
The annexed notes form an integral part of these financial statements.
Earnings per share | 3.29 | 5.52 | 1.16 | 0.19 |
Chief Executive | Chief Financial Officer | Director |
Chief Executive | Chief Financial Officer | Director |
SARDAR CHEMICAL INDUSTRIES LIMITED
INTERIM CONDENSED STATEMENT OF CASH FLOW (UN-AUDITED)
AS AT DECEMBER 31, 2024
DECEMBER | DECEMBER |
31, 2024 | 31, 2023 |
Rupees | Rupees |
cash flow from operating activities
SARDAR CHEMICAL INDUSTRIES LIMITED
INTERIM CONDENSED STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
AS AT 31 DECEMBER 2024
Share Capital Share Premium | Un-Appropriated | Rupees |
Profit/ | Total | |
(Accumulated Loss) | ||
Balance as at |
Profit before taxation
Adjustment of non-Cash items.
Depreciation. Financial Charges
Profit on sale of fixed assets
Profit before working capital changes
Effect of working capital changes
27,845,109
4,928,812
4,610,531
--
9,539,343
37,384,452
46,394,106
2,217,975
5,569,044
--
7,787,019
54,181,124
30 June 2023 | 60,000,000 | 30,000,000 | 161,832,737 | 251,832,737 |
Profit for | ||||
the period ended | ||||
31 Dec. 2023 | -- | -- | 33,144,815 | 33,144,815 |
(Increase)/Decrease in store, spare and loose tools (Increase)/Decrease in stock in trade (Increase)/Decrease in trade debts (Increase)/Decrease in sales tax refundable
(Increase)/Decrease in advances, deposit and Prepayments
Increase/(Decrease) in creditors accrued and other
Liabilities
Increase /(Decrease) in Unclaimed Dividend
Financial charges paid
Tax paid
Net cash generated from/ (used in) operating A
activities
Cash flow from investing activities:
8,379
(6,306,129)
(3,872,114)
--
(2,642,390)
(7,197)
--
(12,819,451)
(4,610,531)
(6,754,137)
(11,364,668)
13,200,332
(87,371)
(11,574,933)
(19,135,359)
594,246
(1,717,099)
11,907,276
--
(20,013,240)
(5,569,044)
(10,841,718)
(16,410,762)
17,757,123
Balance as at | |||||
31 Dec. 2023 | 60,000,000 | 30,000,000 | 194,977,552 | 284,977,552 | |
Profit for | |||||
the period ended | |||||
30 JUNE 2024 | -- | -- | 19,184,613 | 19,184,613 | |
Balance as at | |||||
30 June 2024 | 60,000,000 | 30,000,000 | 214,162,165 | 304,162,165 | |
Profit for | |||||
the period ended |
Property, plant and equipment purchased | (157,900) | -- | ||
Long term deposits | (219,050) | -- | ||
Sale proceeds of assets disposed off | -- | -- | ||
Net Cash (used in) investing activities | B | (376,950) | -- | |
Cash flow from financing activities
31 Dec. 2024 | -- | -- | 19,757,538 | 19,757,538 | |
Final dividend | |||||
For the year ended |
(Repayment) of lease obligation
(Repayment) of long-term loan Loan repaid to directors
Dividend Paid
Net cash generated from/ (used in) financing C activities
Net increase/ (Decrease) in cash and cash
EquivalentsA+B+C
Cash and cash Equivalents at beginning of the Period
(1,991,798)
(966,266)
--
(3,730,301)
(6,688,365)
6,135,017
13,093,163
(2,216,404)
--
(10,815,476)
--
(13,031,880)_
4,725,243
18,739,826
30 June 2024 | -- | -- | (5,224,000) | (5,224,000) | ||||
Balance as at | ||||||||
31 Dec. 2024 | 60,000,000 | 30,000,000 | 228,695,703 | 318,695,703 | ||||
Cash and cash Equivalents at end of the period | 19,228,180 | 23,465,069 |
Chief Executive | Chief Financial Officer | Director |
Chief Executive | Chief Financial Officer | Director |
SARDAR CHEMICAL INDUSTRIES LIMITED | SARDAR CHEMICAL INDUSTRIES LIMITED |
SARDAR CHEMICAL INDUSTRIES LIMITED | SARDAR CHEMICAL INDUSTRIES LIMITED |
SARDAR CHEMICAL INDUSTRIES LIMITED | SARDAR CHEMICAL INDUSTRIES LIMITED |