Transmission of quarterly report for the period ended on 30 09 2024

SARDAR CHEMICAL INDUSTRIES LIMITED

FIRST QUARTER DIRECTORS' REPORT TO THE

SHAREHOLDERS

The Directors of SARDAR CHEMICAL INDUSTRIES LIMITED are pleased to present their report along with financial statements of the Company for the first quarter ended on September 30, 2024.

RESULTS FOR THE FIRST QUARTER ARE SUMMARIZED AS UNDER:

The net Sales has decreased by about 21% as compared to the same quarter of the previous year. Due to increase in the sales tax rate up to 18%, our selling prices have increased considerably which resulted in the decline in our sales.

In addition to above, the imposition of the advance tax on sales to distributors, dealers and wholesalers u/s 236G of the Income Tax Ordinance, 2001, our wholesalers have started importing their goods instead of purchasing from the local manufacturers which hampered our sales.

Our 421 KWp solar system successfully generated electricity during this period, contributing to a reduction in power costs. Thus, resulted in decrease in cost of sales.

SARDAR CHEMICAL INDUSTRIES LIMITED

STATEMENT OF FINANCIAL POSITION (UN-AUDITED)

FUTURE PROSPECTS

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 our valued customers' business place and remedial measures to keep control on cost of our products to get our share from the market.

ACKNOWLEDGEMENT

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

Lease Liabilities

Long term loan

Deferred tax liabilities

CURRENT LIABILITIES

Current maturity Director's Loan

Creditors, accrued and other liabilities Unclaimed Dividend

Markup Accrued

5,661,247

33,819,322

3,108,750

42,589,319

7,227,557

35,184,524

35,807,092

2,205,234

--

80,424,407

439,948,162

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

429,072,774

The annexed notes form an integral part of these financial statements.

SARDAR CHEMICAL INDUSTRIES LIMITED

Chief Executive

AS AT SEPTEMBER 30, 2024

SARDAR CHEMICAL INDUSTRIES LIMITED

STATEMENT OF PROFIT OR LOSS ACCOUNT

(UN-AUDITED)

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2024

Three Months Quarter Ended

CURRENT ASSETS

Sales- Net

Cost of Sales

Gross Profit

Administrative Expenses Selling and distribution Cost

Operating Profit for the period

Other Operating Income

30 SEP.

2024

Rupees

118,140,241

(81,737,800)

36,402,441

(14,128,339)

(5,063,934)

(19,192,273)

17,210,168

934,767

30 SEP.

2023

Rupees

150,041,486

(86,921,684)

63,119,802

(11,963,207)

(4,117,244)

(16,080,451)

47,039,351

884,581

Stores, spares & loose tools Stock in trade

Trade debts

Advances, deposits, prepayments & other receivables

Taxation- Net

922,550

131,611,991

180,366,125

2,451,522

16,605,309

820,773

120,561,011

186,166,984

1,834,816

15,831,349

Finance Cost

Profit/(Loss) before taxation Taxation

Profit/(Loss) for the period

(2,114,366)

16,030,569

(3,258,297)

12,772,271

(3,109,541)

44,814,391

(2,907,980)

41,906,411

Cash & bank balances

19,531,178

351,488,675

13,093,163

338,308,097

SARDAR CHEMICAL INDUSTRIES LIMITED

STATEMENT OF CASH FLOW (UN-AUDITED)

AS AT SEPTEMBER 30, 2024

SARDAR CHEMICAL INDUSTRIES LIMITED

SARDAR CHEMICAL INDUSTRIES LIMITED. STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)

cash flow from operating activities

Profit/(Loss) 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

(Increase) /Decrease in store, spare and loose tools

(Increase) /Decrease in stock in trade

(Increase) /Decrease in trade debts

(Increase)/Decrease in advances, deposit and Prepayments

Increase/(Decrease) in creditors accrued and other Liabilities

(Increase)/Decrease in unclaimed dividend

Cash flow from financing activities (Repayment )/ proceeds of lease obligation (Repayment)/ proceeds of short term finances Dividend Paid

Cash and cash Equivalents at beginning of the period

Cash and cash Equivalents at end of the period

SEPTEMBER

30, 2024 Rupees

16,030,569

2,463,090

2,114,366

-

4,577,456

20,608,025

(101,777)

(11,050,980)

5,800,859

(616,706)

(1,471,675)

-

(7,440,279)

(1,636,787)

(4,032,259)

(5,669,046)

7,498,700

(157,900)

-

-

(157,900)

(902,785)

-

-

(902,785)

6,438,015

13,093,163

19,531,178

SEPTEMBER

30, 2023

Rupees

44,814,391

1,108,988

3,109,541

-

4,218,529

49,032,920

(55,260)

4,405,530

(20,049,854)

(291,831)

13,953,679

-

(2,037,736)

(3,109,541)

(8,488,534)

(11,598,075)

35,397,109

-

-

-

-

(1,089,523)

(8,488,096)

-

(9,577,619)

25,819,490

18,739,826

44,559,316

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2024

NOTES TO THE ACCOUNTS

QUARTER ENDED SEPTEMBER 30, 2024

1. The accounts are un audited and have been prepared in accordance with the requirements of SRO dated 5, November 2001 issued by the Securities and Exchange Commission of Pakistan.
2. Accounting policies adopted for the preparation of the quarterly accounts are the same as those applied in the preparation of the audited annual published accounts of the company as on 30/06/2024.
3. These accounts have been prepared in compliance with the requirement of international accounting standard IAS 34 "Interim Financial Reporting".