STATEMENT OF FINANCIAL POSITION
AS AT MARCH 31, 2025
Note | March 31, Z025 Un-audited | June 30, 2024 Audited Rupees | |||
ASSETS | |||||
Current assets | |||||
Cash and bank balances | 4 | 552,671,325 | 202,142,642 | ||
Short term investments | s | 950,000,000 | |||
Advances, deposits, prepayments and other receivables | 68,394,775 | 38,665,098 | |||
Morabaha finance | 428,888,8B9 | ||||
Current portion of Diminishing Musharaka | 415,929,505 | 324,247,982 | |||
Current portion of long term loan | 2,371,116 | 1,460,208 | |||
Total current assets | 1,468,255,610 | 1,516,515,930 | |||
Non - current assets | |||||
Diminishing Musharaka | 575,578,094 | 414,665,176 | |||
Long term loans and advances | 5880,155 | 5,085,621 | |||
Fixed assets - in own use | 1,935,562 | ||||
Total non - current assets | 583,257,780 | 421,686,359 | |||
TOTAL ASSETS | 2,051,513,390 | 1,938,202,289 | |||
LIABILITIES AND CERTIFICATE HOLDERS' EQUITY | |||||
Current liabilities | |||||
Creditors, accrued and other liabilities | 90,508,812 | 61,509,524 | |||
Provision for taxation -net | 10 | 8,307,484 | |||
Profit distribution payable | 1212009 | 1,075,380 | |||
97,616,704 | 70,892,388 | ||||
Non - current liabilities | |||||
TOTAL LIABILITIES | 70,892,388 | ||||
CERTIFICATE HOLDERS' EQUITY | |||||
Certificate capital | |||||
Authorised certificate capital 50,000,000 (June 2024: 50,000,000) certificates of Rs. t.0 each | s00,000 000 | 500,000,000 | |||
Issued, subscribed, and paid-up certificate capital | 450,000,000 | A50,000,000 | |||
Reserves | 503,896,G86 | 417,309,901 | |||
Long term loan | 2£ | 1,000,000,000 | 1,000,000,000 | ||
TOTAL CERTIFICATE HOLDERS' EQUITY | 1953,896,686 | L,867,309,901 | |||
TOTAL LIABILITIES AND CERTIFICATE HOLDERS' EQUITY | 2,051,513,390 | 1,938,202,289 | |||
CONTINGENCIES AND COMMITMENTS | Z2 |
The annexed notes 1 to 2J form an integral part of these condensed interim financial information
For Sindh Modaraba Management Limited (Management Company - wned by Government of Sindh)
CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS ACCOUNT (Un-audited)
FOR THE NINE-MONTHS ENDED MARCH 31, 2025
Nine months ended Quarter ended March March March March
2025 2024 2025 2024
Note -------------- ---------------------Rupees--------------------------------------
Income from: | ||||||
Diminishing Musharaka | 134,539,851 | 156,156,418 | 44,540,091 | 49,365,461 | ||
Morabaha | 15,3ZS,531 | 6,737,687 | 14,838,826 | 4,752,942 | ||
Bank deposits | 49,822,880 | 29,570,606 | 17,283,415 | 9,Z87,539 | ||
Term deposits receipts | 60,233,607 | 114,206,986 | 40,646,176 | |||
259,92Z,869 | 306,671,697 | 76,662,332 | 104,052,118 | |||
Administrative and operating expenses | 13 | (66,371,460) | (48,835,153) | (23,384,853) | (17,624,677) | |
Reversal of provision aganist Diminishing Musharaka | 3,696,079 | 13,711,981 | 1,336,T17 | 7,304,802 | ||
(62,675,381) | (35,123,172) | (22,048,736) | (10,319,875) | |||
197,246,488 | 271,548,525 | 54,613,596 | 93,732,243 | |||
Other income | 4,440,584 | 265,910 | 3,803,219 | 24,010 | ||
201,687,072 | 271,814,435 | 58,416,81S | 93,756,253 | |||
Management Company's remuneration | (20,168,707) | (27,181,444) | (5,841,6Bt) | (9,375,626) | ||
Provision for services sales tax on the Management Company's remuneration | (3,025,306) | (3,533,588) | (876,252) | (1,218,832) | ||
Profit before taxation | 178,493,059 | 241,099,403 | 51,698,882 | 83,161,795 | ||
Taxation | JO | (35,656,274) | (69,498,481) | (14,992,676) | (24,116,921) | |
Profit for the period
Earnings per certificate - basic and diluted
142,836,785 171,600,922 36,706,206 59,044,874
3.17 3.81 0.82 1.31
The annexed notes 1 to 21 form an integral part of these condensed interim finoncial information
b
For Sindh Modaraba Management Limited (Management Company -owned by Government of Sindh)
CONDENSED INTERIM STATEMENT OF CASH FLOWS QUO-AUOITEO)
FOR THE NINE-MONTHS ENDED MARCH 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation
Adjustments for non - tash and other items Depreciation - Fixed assets - in own use
Nine Months Ended March March
2025 2024
Note Rupees
24i,og9,#03
844,741
Amortization on intangible assets
Gain on disposal of fixed assets -owned Income on bank deposits
Income on term deposit receipts
9.2
(49,822,880)
(60,233,607]
22,718
(29,570,606)
(114,206,986)
Reversal of provision against Diminishing Musharaka
65,384,3Z7(13,711,981)
84,477,289
Working capital changes
Advances, prepayments and other receivables Diminishing Musharaka
Morabaha Long term loan
Long term advances
Creditors, accrued and other liabilities
Income received on term deposit receipts Income received on bank deposits Income tax paid
Net cash (used in)/generated from operations
{42,786,695)
{248,898,362) {428,888,889)(t,7os,44zl
28,g99,288 (693,280,100) 73,311,475 49,802026(38,067,875)
(542,850,147)(7,950,407)
162,582,445
(80,000,000)
(5,256,419)
14,018,123
83,393,742
101,947,746
33,588,042
(83,217,685) 220,189, 134
CASH FLOWS FROM INVESTING ACTIVITIES
Sale proceed from disposal of fixed assets -owned Purchase of fixed assets - owned
Net cash used in investing activties
CASH FLOWS FROM FINANCING ACTIVITIES
Dividend paid
Net cash used in financing activities
Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period
8.1
(567,799)
(507,799)
(599,471,317) 1,152,142,642
552,671,325
(734,427)
(734,427)
55 986 667)
(55,986,667)
163,468,040
882,076, 260
1,045,544,300
The annexed notes to 2J form an integral part of these condensed interim financial /n/ormotion.
For Sindh Modaraba Management Limited (Management Company -owned by Government of Sindh)
b
SINDH MODARABA
CONDENSED iN7ER1M STATEMENT OF CHANGES IN EQUITY {Un-audited)
FOR THE NINE-MONTHS ENDED MARCH 31, 2025
Issued, | Reserves | ||||
subscribed, and paid-up certificate | Long term loan | Total equity | |||
Statutory reserve | Unappropziated profit | Total | |||
capital | |||||
------ | ------ | --------Rupees---------------------------------------------------- | |||
Balance as at July 01, 2023 | 450,000,000 | 160,416,320 | 111,950,892 | 272,367,212 | 1,000,000,000 | 1,722,367,212 |
Profit for the period | 171,600,922 | 171,600,922 | 171,600,922 | |||
Transaction with Certificate Holders Profit distribution @ Rs. 1.25 (12.50%) per certificate | (56,250,000) | (56,250,000) | (56,250,000) |
Balance as at March 31, 2024 450,000,000 160,416,320 227,301,814 387,718,134 1,000,000,000 1,837,718,t34
Balance as at July 01, 20Z4 | 450,000,000 | 200,682,424 | 216,627,477 | 417,309,901 | 1,000,000,000 | 1,867,309,901 |
Profit for the period | 142,836,785 | 142,836,785 | G42,836,785 | |||
Transaction with Certificate Holders Profit distribution @ Rs. 1.25 (12.50%) per certificate | (56,250,000) | (56,250,000) | (56,250,000) |
Balance as at March 3T, 2025 4S0,0O0,000 200,682,424 303,214,262 503,896,686 1,000,000,000 1,953,896,686
The annexed notes 1 to 21 form an integral part of these condensed interim ¿noncio/ information.
For Sindh Modalaba Management Limited }Management Company -owned by Government ot Sindh)