Sunrays Textile Mills Ltd.PSX: SUTM

Financial results quarter ended 31/3/2025

· Issued by Sunrays Textile Mills Ltd.

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SuñrapsTexti-le Mi-lls Ltd.

April 30,2025 SUTM/02/C&SD/2025

The General Manager,

Pakistan Stock Exchange Limited, Stock Exchange Building,

Stock Exchange Road,

Karachi.

Subject: Financial Results for the 3rdQuarter Ended March 31, 2025

Dear Sir,

We have to inform you that the Sunrays Textile Board of Management in its meeting held on Wednesday, April 30, 2025 at 12:00 pm at Karachi has recommended a 'NIL' dividend

The financial statements of the company for the half period ended March 31, 2025 are attached as follows:

  • Condensed Unconsolidated Interim Financial Statements ( Annexures- A1 to A4)

  • Condensed Consolidated Interim Financial Statements ( Annexures- BI to B4)

The 3RDQuarterly Report of the company for the period ended March 31, 2025 will be transmitted thorugh PUCARS separately within the specified time.



Yours Sincerely,

Director

Encls: As stated above

Copy: The Executive Director / HOD, Offsite-II Department, Supervision Division,

Securities and Exchange Commission of Pakistan, NIC Building, 63 Jinnah Avenue,

Islamabad.


No 8



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5693660(20 Lines). F ,

9 & 69 94

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Tel

(92-21) 111-404-404 & 5693641 tO

E-mail:info@indus-g

roup.com

& indus@fascom.com

SUNDAYS TEXTILE MILLS LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT QF FINANCIAL POSITION

AS AT MARCH 31, 2025

ASsETs

Non-current assefs

I/ofe

Mar. 31

2025

(000)

June. 30

2024

(000)

7,370,147

7,583,548

190,850

190,850

6,991

86,968

6,991

Property, plant and equipment

Long term investment

Long term advances

7,567,989

7,868,357

Current assefs

Stores and spares

Stock in trade

Trade debts

Loans and advances

Advance income tax

Trade deposits

Other receivables

Other financial assets

Sales tax refundable

Income tax refundable

Cash and bank balances

12,249,713

7,547,015

7otal assets

19,817,701

15,415,373

EOUITY AND L.IABILITIES

Share capital and reserves

Issued, subscribed and paid-up capital

Share premium

Surplus on revaluation of property,

plant and equipment

General reserves

Unappropriated profit

Non-current liabilities

8,612,263

8,203,427

Long term financing

2,774,429

2,707,707

Deferred taxation

352,772

369,174

Deferred liabilities

110,766

115,515

Current liabilities

3,237,967

3,192,396

Trade and other payables

Accrued markup

Short term borrowings

Current portion of long term financing

Unclaimed dividend

Provision for taxation

Contingencies and commifments

7,967,471

4,019,550

Total eqvify and liabilitles

19,817,701

15,415,373

Long term deposits

294,316

247,706

5,058,816

2,395,400

4,299,458

3,068,459

167,589

102,153

217,130

185,868

143,099

21,896

42,099

12,870

658,698

531,794

1,157,848

773,150

123,733

123,733

86,928

83,986

207,000

207.000

3,600

3,600

1,486,100

1,536,986

6,112,000

6,112,000

803,563

343,841

889,897

976,285

202,106

175,789

6,198,878

2,285,390

340,150

223,94s

22,523

22,523

313,917

335,618



The annexed notes from 1 to 10 form an integral part of these financial statements.

ChiefExect/tive Director Chief Financial Ofñcer





SUNRAYS TEXTILE MILLS LIMITED UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (USAUDITED)

''OR TZfE NINE MONTZf PERIOD ENDED MARCZf 31, 2025

........ Nine months ended ........ March 31, March 31,

2025 202d

...... Three months ended ...... March 31, March 31,

2025 2024

(106,807)

(151,702)

(23,467)

(44,565)

(262,932)

(216,560)

(98,314)

(65,956)

(36,189)

(48,949)

(11,644)

(14,435)

Note

  • - - - - - - - - - - - - - - •pees in '#0#' - - - - - - - - - - - - - - - -

Revenue from contract

with customers-net

14,943,425

15,292,672

4,586,829

5,335,141

Cost of goods sold

6

(13,449,450)

(13,830,667)

(4,086,07 l)

(4,920,786)



1,493,975

1,462,005

500,758

414,354

Other income

336,391

299,217

93,107

77,438

1,830,366

1,761,222

593,865

491,793

Distribution expenses

Administrative expenses

Other operating expenses

(405,928)

(417,210)

(133,425)

(124,956)

Finance cost

(810,814)

(783,553)

(282,854)

(264,921)

Profit before minimum tax and income tax

613,624

560,458

177,586

101,917

minimum tax

(49,446)

(42,881)

20,613

15,741

Profit before income tax

564,178

517,577

198,200

117,657

Income tax

(155,342)

(134,720)

(100,552)

(76,783)



408,836

382,857



97,648

40,875

Earnings per share - basic and diluted

18.50

1.97

The annexed selected notes from 1 to 10 form an integral part of this condensed interim financial information.



ChiefFinaztcial Officer ChiefExecutive Officer Chairman



SUNRA YS TEXTILE MILLs LIMITED

UNCONSOLIDA TED CONDENSED INTERIñf STA LENIENT OF CHA NGES IN ECt £/ITI' (tlNAUDITED)

FOR THE NINE ñ4ONTH Prnioo ExDED 44A IICH 31, 2023



Surplus on

Un-nyprof›rinte‹f



Share capital Shane premium Capital reserve resaluatiaii af General reserve

fc'‹:ed assets

Tatal

Balance as at July 01, 2023 -(audited)



207,000

3,600

1,983,330

612,000

5,543,302

8,349,252

Profit for the period

Other comprehensive income

382,857

382,857

Total comprehensive income

for the period ended March 31, 2024

382,837

382,857

Transferred to unappropriated profit on account of Incremental depreciation

on surplus on revaluation of property, plant and equipment

(84,363)

84,363

Balance as at March 31, 2024

207,000

3,600

1,898,987

612.000

6,010,523

8,732,109

Balance as at July 01, 2024-(audited)



207,000

3,600

2,J00,000

1,536,986

3,612,000

343,841

8,203,427

Profit for the period

408,836

408,836

Other comprehensive income

Total comprehensive income

for the period ended March 31, 2025

408,836

408,836

Transferred to unappropriated profit on account of Incremental depreciation on surplus on revaluation of property, plant and equipment

(50,886)

50,886

Balance as at March 31, 2025

207.000

3,600

2,500,000

l,4'86, 100

3,b12,000

803,563

8,612,263

The annexed selected notes from 1 to 10 form an integral part of this condensed interim financial information.

Chief Financial Officer

Chief Executive Officer

Chairman



SUNRAYS TEXTILE MILLS LIGHTED UNCONSOLIDA TED CONDENSED INETRIM STATEMENT OF'' CASH FLOWS (UNAUDITED) FOR THE NINE MONTH PERIOD ENDED MARCH 31, 2025
  1. CASH PLOWS PROM OPERATING ACTIVITIES

    .....Nine months ended.....

    Morch 31, March 31, 2025 2024

    Rupees in'000'

    Profit before taxation Adjustments for :

    Depreciation on property, plant and equipment Provision for staff retirement benefits - gratuity Realized (gain)/loss on disposal of other financial assets

    Unrealized gain/(loss) on re-measurement of other financial assets Unrealized foreign currancy exchange gain

    (Gain) /loss on sale of property,plant and equipment Finance cost

    Operating cash flows before movements in working capital Changes in working capital

    613,624

    520,244

    22,500

    (786)

    (132,830)

    (163)

    810,814

    1,833,403

    560,458

    439,344

    19,947

    (152,198)

    (l 10,202)

    (2,126)

    783,553

    1,538,777

    (Increase) / decrease in current assets Stores and spares

    Stock in trade Trade debts

    Loans and advances

    Trade deposits and short term prepayments Due from government

    Other receivables

    Trade and other payables

    (46,609)

    (119,309)

    (2,663,416)

    (324,806)

    (1,230,999)

    (2,659,277)

    21,532

    10,327

    (121,202)

    (10,917)

    (415,960)

    (415,812)

    (29,230)

    36,899

    (35,255)

    118,169

    (4,521,138) (3,364,726)

    Cash (used)/genrated from operations

    (2,687,735)

    (1,825,949)

    Finance cost paid

    (784,496)

    (665,322)

    Staff retirement benefits - gratuity paid

    (8,118)

    (2,740)

    Tax paid/Adjusted

    Net cash (used)/genrated from operating activities

  2. CASH FLOWS FROM INVESTING ACTIVITIES

    (242,892) (123,185)

    (3,723,241) (2,617,197)

    Addition to property plant and equipment

    (306,930)

    (604,022)

    Proceeds from disposal of property plant and equipment

    250

    3,600

    Payment for purchase of other financial assets

    (126,904)

    (14,525)

    Proceeds from disposal of other financial assets 133,616

    Net cash used in investing activities

  3. CASH FLOWS FROM FINANCING ACTIVITIES

(299,968)

(614,947)

Dividend paid

Long term financing-net Short term borrowings - net

Net cash genrated from/(used) in financing activities

(1,678)

1 I 2,663

110,708

3,913,488

3,182,796

4,026,150 3,291,826

Net (decrease)/increase in cash and cash equivalents (A+B+C)

2,942

59,682

Cash and cash equivalents at beginning of the period 83,986 50,403

Cash and cash equivalents at end of the period

86,928

110,084

The annexed selected notes from 1 to 10 form an integral part of this condensed interim financial information.



Chief Fizianciol Officer ChiefExecutive Officer Chairman




SUNDAYS TEXTILE MILLS LIMITED

CONSOLIDATED CONDENSED INTERIM STATEMENT 0F FINANCIAL ROSITION

AS AT MARCH 31, 2025

ASSETS

Non-current assefs

Property, plant and equipment Long term advances

Long term deposits

Current assets Stores and spares Stock in trade Trade debts

Loans and advances Trade deposits Advance Income Tax Other financial assets Sales tax refund able income tax refundable Other receivables

Cash and bank balances

Note



7

(Unaudited) March 31,

2024

7,563,441

7,778,150

86,968

7,001

7,011

Ropees

7,570,442

(Audited)

Jvne 30,

2024

Rupees

7,872,129

294,316

247,706

5,058,816

2,395,400

4,299,458

3,068,459

171,909

102,153

143,099

21,896

217,130

185,868

658,698

534,610

1,157,848

773,150

123,733

123,733

42,099

12,870

86,956

84,006

207,000

207,000

3,600

3,600

1,483,291

1,534,704

6,112,000

6,112,000

811,777

351,733

12,254,062 7,549,851

Total assets

19,824,504

15,421,981

EOUITY AND LIABILITIES

Share capital and reserves

Issued, subscribed and paid-up capital

Share premium

Surplus on revaluation of property, plant and equipment

General reserves

Unappropriated profit

8,617,668

8,209,037

Non-current liabilities

Long term financing

2,774,429

2,707,707

Deferred taxation

352,772

369,753

Deferred liabilities

111,496

115,515

3,238,697

3,192,975

Current liabilities

Trade and other payables

890,469

976,657

Accrued markup

202,106

175,789

Short term borrowings

6,198,878

2,285,390

Current portion of long term financing

340,150

223,945

Unclaimed / unpaid dividend

22,523

22,523

Provision for taxation

314,013

335,665

7,968,139

4,019,969

Contingencies and commitments

8

Total equity and liabilities

19,824,504

15,421,981

The annexed notes from 1 to 13 form an integral part of these interim financial statements.

Chief Executive Director Chief Financial Officer



SUNRAYS TEXTILE MILLS LIMITED

CONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED) FOR THE NINE MONTH PERIOD ENDED MARCH 31, 2025

//ote

.../V/ne month period enc/erf...

March 31, March 31,

2025 2024

- Rupees

...Three month period enr/ed...

March 31, March 31,

2025 2024

(106,807)

(151,702)

23,467)

44,565)

(264,184)

(216,996)

99,022)

65,550)

(36,191)

(48,949)

11,646}

14,435)

Revenue from contract

with customers - net

14,943,425

15,292,672

4,586,829

5,335,141

Cost of goods sold

9

(13,449,450)

(13,830,667)

(4,086,071)

(4,920,786)

Gross profit

1,493,975

1,462,005

500,758

414,355

Other income

337,955

300,873

93,377

78,011

1,831,930

1,762,878

594,135

492,366

Distribution cost Administrative expenses

Other expenses

(407,182)

(417,647)

(134,135)

(124,550)

Finance cost

(810,814)

(783,553)

(282,851)

t264,921)

Profit before minimum tax

and incor

613,934

561,678

177,149

102,895

Minimum tax

(49,446)

(42,862)

20,613

15,739

Profit before incometax

564,488

518,816

197,762

118,634

Income tax

(155,857)

(135,103)

(100,723)

(76,905)

Profit for the period

408,631

383,713

97,039

41,729

19.74

18.54

4.69

2.02

The annexed notes from 1 to 13 form an integral part of these interim financial statements.



Chief Executive Director

409,631

Chief Financial Officer

SUNRAYS TEXTILE MILLS LIMITED

CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UNAUDITED) FOR THE NINE MONTH PERIOD ENDED MARCH 31, 2024

Issued, subscribed and paid-up capital

Capital reserves

Revenue reserves



Share Premium

Capital

reserve

Surplus on rev'a/uafion of fixed assets

General reserve

Unopproprio ted profits

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Rupees (000) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Balance as at June 30, 2023 - Audited

207,000

3,600

1,981,809

612,000

5,550,501

8,354,909

Profit for the nine month period ended March 31, 2024

Other comprehensive income

383,713

383,713

Total comprehensive income for the nine month period ended Marchr 31, 2024

383,713

383,713

Transactions with shareholders:

Transfer from surplus on revaluation of property, plant and equipment

on account of incremental depreciation (net of deferred tax)

(83,659)

(83,659)

Balance as at March 31, 2024 - Unaudited

207,000

3,600

1,898,150

612,000

5,850,555

8,738,623

Balance as at June 30, 2024 - Audited

207,000

3,600

2,500,000

1,534,704

3,612,000

351,733

8,209,037

Profit fggthe nine month period ended March 31, 2024

408,631

408,631

Other comprehensive income

Total comprehensive income for the nine month period ended Marchr 31, 2025

408,631

408,631

Transactions with shareholders:

Transfer from surplus on revaluation of property, plant and equipment

on account of incremental depreciation (net of deferred tax)

(51,413)

51,413

Balance as at March 31, 2025 - Unaudited

207,000

3,600

2,500,000

1,483,291

3,612,000

811,777

8,617,668

The annexed selected notes from 1 to 10 form an integral part of these interim financial statements.

Chief Executive Director Chief Financial Officer







SUNRAYS TEXTILE MILLS LIMITED

CONSOLIDATED CONDENSED INETRIM STA7EUEN7 OF CASH F-LOWS (UNAUDITED) FOR THE NINE MONTH PERIOD ENDED MARCH 31, 2025

A. CASH FLOWS FROM OPERATING ACTIVITIES

------ Nine month period end/erf ------March 31, March 31,

Rupees R•fi›ees

Profit before taxation Adjustments for:

Depreciation on property, plant and equipment Provision for staff retirement benefits - gratuity Realized gain on disposal of short term investments

Unrealized gain on re-measurement of short term investments Unrealized gain on foreign currancy

Gain on disposal of property, plant and equipment Finance cost

613,934

561,678

520,913

440,048

22,500

(786)

19,947

(132,481)

(152,198)

(110,202)

(163)

(2,126)

810,816

783,553

1,220,799 979,022

Operating cash flows before movements in working capital

Changes in working capital (Increase) / decrease in current assets Stores and spares

Stock in trade Trade debts

Loans and advances Due from government

Trade deposits and short term prepayments Other receivables

Increase in current liability

Trade and other payables

1,834,733

1,540,700

(46,609)

(119,309)

(2,663,416)

(324,806)

(1,230,999)

(2,659,277)

20,027

9,063

(415,960)

(415,812)

(121,202)

(10,917)

(29,230)

36,899

(34,754)

117,798

(4,522,143) (3,366,361)

Cash (used in) / generated from operations

(2,687,410)

(1,825,661)

Finance cost paid

(784,498)

(665,322)

Staff retirement benefits - gratuity paid

(8,118)

(2,740)

Income Taxes paid - net

(243,207)

(123,504)

Net cash (used in) / generated from operating activities

(3,723,233)

(2,617,227)

B CASH FLOWS FROM INVESTING ACTIVITIES

Addition to property plant and equipment

(306,930)

(604,022)

Proceeds from disposal of property, plant and equipment

250

3,600

Payments for purchase of short term investments

(126,904)

(14,525)

Proceeds from disposal of short term investments

133,616

Net cash generated from / (used in) investing activities

(299,968)

(614,947)

CASH I"LOWS FROM FINANCING ACTIVITIES

Dividend paid

Long term financing - net

112,663

(1,678)

110,708

Short term borrowings - net

3,913,488

3,182,796

Net cash generated from / (used in) financing activities

4,026,151

3,291,826

Net decrease in cash and cash equivalents (A+B+C)

2,950

59,652

Cash and cash equivalents at beginning of the period

84,006

50,481

Cash and cash equivalents at end of the period , _ ,

The annexed selected notes from 1 to 13 form an integral part of these interim financial statements.

Chief Executive Director :, Q ef Financial Officer