EQUITY AND LIABILITIES SHARE CAPITAL AND RESERVES Authorized share capital 100,000,000 (2023: 100,000,000) ordinary shares of Rupees 10 each Issued, subscribed and paid up share capital
Annexure-A | |
SERVICE INDUSTRIES LIMITED | |
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 | |
2024 2023 | 2024 2023 |
........ (Rupees in thousand) ........ | ........ (Rupees in thousand) ........ |
ASSETS NON-CURRENT ASSETS Fixed assets
1,000,000
1,000,000
469,874
469,874
Reserves 8,020,307 7,848,305
Total equity 8,490,181 8,318,179
Investment property Right-of-use assets Intangible assets
Deferred income tax asset - net Long term investments
Long term loans to employees Long term security deposits
1,253,493 182
12,447,494 -
67,389 4,521,384
3,762 72,966 14,180,668
7,510 - 8,028,956
12,061 17,812
11,124 232,301
15,601,645
25,255,457
LIABILITIES NON-CURRENT LIABILITIES
Long term financing 4,414,865 8,808,519 -
Long term deposits Lease liabilities
Employees' retirement benefit Deferred liabilities CURRENT LIABILITIES Trade and other payables Accrued mark-up
Short term borrowings
Current portion of non-current liabilities Taxation and levy - net
Unclaimed dividend
59,144 97,916 - 4,571,925
85,024 5,037,023 287,024 570,883
14,788,473 Taxation and levy - net
Trade deposits and prepayments
1,761,242
6,788,737 Other receivables
199,759
802,891
6,047,096
10,889,573
1,280,813
38,916
2,795,875 -
47,509
43,783
9,375,335 21,320,859
Total liabilities 13,947,260 36,109,332
CONTINGENCIES AND COMMITMENTS
TOTAL EQUITY AND LIABILITIES 22,437,441 44,427,511
CURRENT ASSETS
Stores, spares and loose tools Stock in trade
Trade debts
Loans and advances Accrued mark-up Short term investments Cash and bank balances
28,913
616,897
1,679,031
10,387,433
1,820,704
3,867,331
1,819,753 - -
729,894 -
306,864
129,252
187,382
566,016
379,147
375,177
883,430
416,950 1,813,676
6,835,796 19,172,054
TOTAL ASSETS 22,437,441 44,427,511
3
SERVICE INDUSTRIES LIMITED
STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DECEMBER 2024
REVENUE - net COST OF SALES
GROSS PROFIT
DISTRIBUTION COST ADMINISTRATIVE EXPENSES OTHER EXPENSES
OTHER INCOME
PROFIT FROM OPERATIONS FINANCE COST
SHARE OF NET PROFIT OF ASSOCIATE ACCOUNTED FOR USING THE EQUITY METHOD
PROFIT BEFORE LEVY AND TAXATION LEVY
PROFIT BEFORE TAXATION TAXATION
PROFIT AFTER TAXATION
2024 2023 … ...................... (Rupees in thousand) … ......................
16,636,187
(16,092,411)
55,744,034
(42,053,764)
543,776
13,690,270
(416,437)
(4,643,023)
(545,692)
(2,091,125)
(50,296)
(263,574)
(1,012,425)
(6,997,722)
(468,649)
6,692,548
3,307,048
622,573
2,838,399
7,315,121
(2,171,578)
(5,020,990)
666,821
2,294,131
-
63,752
666,821
2,357,883
(23,033)
(220,045)
643,788
2,137,838
(319,367)
(795,702)
324,421
1,342,136
EARNINGS PER SHARE - BASIC AND DILUTED (RUPEES)
6.90
28.56
SERVICE INDUSTRIES LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2024
2024 2023
… ...................... (Rupees in thousand) … ......................
PROFIT AFTER TAXATION
OTHER COMPREHENSIVE LOSS
Items that will not be reclassified to profit or loss:
Fair value adjustment arising on remeasurement of investment at fair value through other comprehensive income - net of tax
Remeasurements of employees' retirement benefit obligation - net of tax Items that may be reclassified subsequently to profit or loss
Other comprehensive loss for the year - net of tax
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
324,421
1,342,136
SERVICE INDUSTRIES LIMITED
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
Rupees in thousand Balance at 31 December 2022
Transaction with owners:
Final dividend for the year ended 31 December 2022 @ Rupees 5 per share
Profit for the year
Other comprehensive loss for the year Total comprehensive income for the year Balance as at 31 December 2023
Transaction with owners:
Final dividend for the year ended 31 December 2023 @ Rupees 10 per share
Credited to reserve on transfer of negative net assets to Service Retail (Private) Limited - Subsidiary Company pursuant to the Scheme
Transfer of share of share premium reserve held by equity accounted investee due to transfer of investment pursuant to the Scheme
Profit for the year
Other comprehensive loss for the year Total comprehensive income for the year Balance as at 31 December 2024
SERVICE INDUSTRIES LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
CASH FLOWS FROM OPERATING ACTIVITIES Cash (used in) / generated from operations
Finance cost paid
Income tax and levy paid Workers' welfare fund paid
2024 2023 ...(Rupees in thousand)...
(857,405) (2,356,199)
8,886,799 (4,691,104)
(382,077) (767,574)
- (1,293)
Workers' profit participation fund 14,136 (125,354)
Employees' retirement benefit - net 14,919 (22,198) Long term deposit - net
Net increase in long term loans to employees Net decrease / (increase) in security deposits
Net cash (used in) / generated from operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditure on operating fixed assets Return on bank deposits and term deposits receipts Proceeds from sale of operating fixed assets
Long term investments made
Dividend income received Short term investments made Short term investments disposed of
Net cash from / (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from long term financing
Repayment of long term financing Repayment of lease liabilities Short term borrowings - net Dividend paid
Net cash from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents transferred to Subsidiary Company pursuant to the Scheme
Cash and cash equivalents at the end of the year
- 83,109
(4,555) (8,075)
2,563 (8,839)
SERVICE INDUSTRIES LIMITED AND ITS SUBSIDIARY COMPANIES CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Authorized share capital 100,000,000 (2023: 100,000,000) ordinary shares of Rupees 10 each
Issued, subscribed and paid-up share capital
2024 2023 ------Rupees in thousand------
1,000,000
1,000,000
469,874
469,874
Reserves 14,294,885 10,669,107
Equity attributable to equity holders of the Holding Company 14,764,759 11,138,981
Non-controlling interest 11,252,743 7,830,617
Total equity 26,017,502 18,969,598
LIABILITIES
NON-CURRENT LIABILITIES
Long term financing 13,557,096 15,357,142
Long term deposits Lease liabilities
Employees' retirement benefit Deferred liabilities
CURRENT LIABILITIES
Trade and other payables Accrued mark-up
Short term borrowings
Current portion of non-current liabilities Dividend payable
Unclaimed dividend
Liabilities directly associated with the assets held for sale
172,530
85,024
5,685,580
5,037,023
572,095
503,128
3,353,139
2,147,134
23,340,440
23,129,451
13,526,978
10,974,549
803,245
1,366,720
41,394,565
26,272,346
4,558,606 -
4,098,449
127,103
53,087
48,727
60,336,481
42,887,894
924,147
845,629
Total liabilities 84,601,068 66,862,974
CONTINGENCIES AND COMMITMENTS
TOTAL EQUITY AND LIABILITIES 110,618,570 85,832,572
ASSETS
NON-CURRENT ASSETS
2024 2023 ------Rupees in thousand------
Fixed assets 42,434,370 36,297,947
Right-of-use assets Intangible assets Long term investments
Long term loans to employees Long term security deposits
CURRENT ASSETS
Stores, spares and loose tools Stock-in-trade
Trade debts
Loans and advances
Trade deposits and prepayments Other receivables
Taxation and levy - net Accrued interest
Short term investments Cash and bank balances Assets held for sale
4,874,794 4,521,384
4,547 7,510
736,223 708,562
46,902 28,589
260,191 251,106
48,357,027
41,815,098
1,212,154
997,685
24,523,680
21,052,081
14,071,494
9,717,394
2,092,751
1,925,257
403,707
271,663
3,176,562
2,710,660
359,749
514,325
65,550
23,419
8,083,600
883,430
7,957,080 5,633,128
61,946,327 43,729,042
315,216
288,432
62,261,543 44,017,474
TOTAL ASSETS 110,618,570 85,832,572
SERVICE INDUSTRIES LIMITED AND ITS SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTINUING OPERATIONS REVENUE - net
COST OF SALES GROSS PROFIT
DISTRIBUTION COST ADMINISTRATIVE EXPENSES OTHER EXPENSES
OTHER INCOME
PROFIT FROM OPERATIONS FINANCE COST
SHARE OF NET PROFIT OF ASSOCIATE ACCOUNTED FOR USING THE EQUITY METHOD
PROFIT BEFORE LEVY AND TAXATION
LEVY
PROFIT BEFORE TAXATION TAXATION
PROFIT AFTER TAXATION FROM CONTINUING OPERATIONS DISCONTINUED OPERATIONS
LOSS AFTER TAXATION FOR THE YEAR FROM DISCONTINUED OPERATIONS
PROFIT AFTER TAXATION
SHARE OF PROFIT ATTRIBUTABLE TO:
EQUITY HOLDERS OF THE HOLDING COMPANY NON-CONTROLLING INTEREST
EARNINGS PER SHARE - BASIC AND DILUTED (RUPEES)
EARNINGS PER SHARE FROM CONTINUING OPERATIONS - BASIC AND DILUTED (RUPEES)
2024 2023 ----------Rupees in thousand----------
125,014,464
(94,134,078)
96,520,660
(74,670,420)
SERVICE INDUSTRIES LIMITED AND ITS SUBSIDIARY COMPANIES
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
PROFIT AFTER TAXATION
OTHER COMPREHENSIVE LOSS
Items that will not be reclassified to profit or loss:
Fair vale adjustment of investment at fair value through other comprehensive income - net of tax
Remeasurements of employees' retirement benefit obligation - net of tax Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation of foreign subsidiaries
2024 2023 ----------Rupees in thousand----------
7,836,481
4,312,384
Other comprehensive loss for the year
(94,758)
(247,546)
TOTAL COMPREHENSIVE INCOME FOR THE YEAR 7,741,723 4,064,838
SHARE OF TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO:
EQUITY HOLDERS OF THE HOLDING COMPANY 4,066,427 2,661,715
NON-CONTROLLING INTEREST 3,675,296 1,403,123
7,741,723 4,064,838
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