Statement of Financial Position

as at 30 June, 2022
2022
Note ----------- Rupees in thousand -----------
ASSETS
NON CURRENT ASSETS
Property, plant and equipment
Operating fixed assets 7 6,298,108
Capital work in progress 8 396,152
6,694,260
Intangible assets 9 1,440
Investment property 10 408,750
Long term investments 11 2,500
Long term deposits 12 51,758
7,158,708
CURRENT ASSETS
Stores, spares and loose tools 13 495,567
Stock in trade 14 2,168,526
Trade debts 15 1,787,468
Loans and advances 16 278,928
Trade deposits and short term prepayments 17 27,367
Tax refunds due from the Government 18 529,429
Taxation - net 19 224,526
Cash and bank balances 20 194,542
5,706,353
TOTAL ASSETS 12,865,061
EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES
Authorized share capital 21.1 2,000,000
Issued, subscribed and paid up share capital 21.2 1,000,000
Reserves 22
Capital reserves - Share premium 177,000
Revenue reserves - Unappropriated profit 2,618,421
Merger reserve 9.2 -6,445
Surplus on revaluation of fixed assets 23 1,392,042
5,181,018
NON CURRENT LIABILITIES
Long term financing 24 670,698
Long term diminishing musharaka 25 577,566
Lease liabilities 26 9,300
Deferred liabilities 27 621,789
Deferred grant 28 30,094
GIDC payable 29 -
1,909,447
CURRENT LIABILITIES
Trade and other payables 30 3,231,916
Unclaimed dividend 2,308
Mark-up accrued 31 82,866
Short term borrowings 32 1,790,853
Current portion of long term liabilities 33 666,653
5,774,596
CONTINGENCIES AND COMMITMENTS 34
TOTAL EQUITY AND LIABILITIES 12,865,061
 2021 2022
---- Rupees in thousand -----------

5,722,682
417,167
6,139,849
6,445
307,500
100
51,007
6,504,901

442,955
1,121,263
1,167,876
104,616
33,878
529,200
66,459
338,635
3,804,882
10,309,783

1,250,000
847,000

330,000
2,305,352
-
1,392,042
4,874,394

287,969
964,570
17,899
448,301
1,038
77,012
1,796,789

1,902,819
5,303
38,618
 1,161,440
530,420
3,638,600

10,309,783
STATEMENT OF PROFIT OR LOSS ACCOUNT
FOR THE YEAR ENDED 30, JUNE, 2022

2022 2021
Note ----------- Rupees in thousand -----------
Sales 35 15,681,372 11,123,793
Cost of sales 36 (13,616,595) (9,238,284)
Gross profit 2,064,777 1,885,509
Selling and distribution expenses 37 (805,901) (576,501)
General and administrative expenses 38 (245,148) (200,583)
Other operating expenses 39 (80,998) (107,711)
Other income 40 60,051 92,291
(1,071,996) (792,504)
Operating profit 992,781 1,093,005
Financial charges 41 (329,982) (225,395)
Fair value gain on investment property 10 101,250 112,500
Profit before taxation 764,049 980,110
Taxation 42 (349,510) (323,343)
Profit after taxation 414,539 656,767

45
Earning per share - basic diluted (rupees) 4.15 6.57
Statement of Comprehensive Income
For the year ended 30 June, 2022
2022
Note
----------- Rupees in thousand -----------

Profit after taxation for the year 414,539

Other comprehensive income

Items that will not be reclassified subsequently to profit and loss
Remeasurement of defined benefit liability 27.3 (2,153)
Related tax effect 683
(1,470)
Revaluation surplus on free hold land 23 -
(1,470)
Items that may be reclassified subsequently to profit or loss -
(1,470)
Total comprehensive income for the year 413,069
 2021
n thousand -----------

656,766

(1,919)
534
(1,385)
419,308
417,923
-
417,923
1,074,689
 common size analysis for balance sheet 1sr side
2022 2021 2022 2021
Note Rupees in thousand
ASSETS
NON CURRENT ASSETS
Property, plant and equipment
Operating fixed assets 7 6,298,108 5,722,682 48.96 55.51
Capital work in progress 8 396,152 417,167 3.08 4.05
6,694,260 6,139,849 52.03 59.55
Intangible assets 9 1,440 6,445 0.01 0.06
Investment property 10 408,750 307,500 3.18 2.98
Long term investments 11 2,500 100 0.02 0.00
Long term deposits 12 51,758 51,007 0.40 0.49
7,158,708 6,504,901 55.64 63.09
CURRENT ASSETS 0.00 0.00
Stores, spares and loose tools 13 495,567 442,955 3.85 4.30
Stock in trade 14 2,168,526 1,121,263 16.86 10.88
Trade debts 15 1,787,468 1,167,876 13.89 11.33
Loans and advances 16 278,928 104,616 2.17 1.01
Trade deposits and short term prepayments 17 27,367 33,878 0.21 0.33
Tax refunds due from the Government 18 529,429 529,200 4.12 5.13
Taxation - net 19 224,526 66,459 1.75 0.64
Cash and bank balances 20 194,542 338,635 1.51 3.28
5,706,353 3,804,882 44.36 36.91
TOTAL ASSETS 12,865,061 10,309,783 100.00 100.00
 common size analysis for income statement 2nd side
2020 EQUITY AND LIABILITIES
SHARE CAPITAL AND RESERVES 2022
Authorized share capital 21.1 2,000,000
Issued, subscribed and paid up share capital 21.2 1,000,000
Reserves 22
5872413 Capital reserves - Share premium 177,000
46476 Revenue reserves - Unappropriated profit 2,618,421
5918889 Merger reserve 9.2 -6,445
6445 Surplus on revaluation of fixed assets 23 1,392,042
195000 5,181,018
19 NON CURRENT LIABILITIES
52042 Long term financing 24 670,698
6172395 Long term diminishing musharaka 25 577,566
Lease liabilities 26 9,300
418741 Deferred liabilities 27 621,789
685118 Deferred grant 28 30,094
799171 GIDC payable 29 -
208399 1,909,447
5003 CURRENT LIABILITIES
419605 Trade and other payables 30 3,231,916
297623 Unclaimed dividend 2,308
134501 Mark-up accrued 31 82,866
2968161 Short term borrowings 32 1,790,853
9140556 Current portion of long term liabilities 33 666,653
5,774,596
CONTINGENCIES AND COMMITMENTS 34
TOTAL EQUITY AND LIABILITIES 12,865,061
 2021 2022 2021 2020
1,250,000 15.55 12.12 1250000
847,000 7.77 8.22 847000

330,000 1.38 3.20 330000

2,305,352 20.35 22.36 1904070
- -0.05
1,392,042 10.82 13.50 972734
4,874,394 40.27 47.28

287,969 5.21 2.79 334580

964,570 4.49 9.36 1407081
17,899 0.07 0.17 40387
448,301 4.83 4.35 364794
1,038 0.23 0.01 5934
77,012 0.75 426196
1,796,789 14.84 17.43 2578972

1,902,819 25.12 18.46 1201550

5,303 0.02 0.05 1020
38,618 0.64 0.37 78374
1,161,440 13.92 11.27 1138575
530,420 5.18 5.14 88261
3,638,600 44.89 35.29 2507780

10,309,783 100.00 100.00 9140556

common size analysis for income statement

2022 2021 2022 2021 2020

Note Rupees in thousand
Sales 35 15,681,372 11,123,793 100.00 100.00 8856601
Cost of sales 36 (13,616,595) (9,238,284) -86.83 -83.05 7674958
Gross profit 2,064,777 1,885,509 13.17 16.95 1181643
Selling and distribution expenses 37 (805,901) (576,501) -5.14 -5.18 501041
General and administrative expenses 38 (245,148) (200,583) -1.56 -1.80 208306
Other operating expenses 39 (80,998) (107,711) -0.52 -0.97 60662
Other income 40 60,051 92,291 0.38 0.83 84398
(1,071,996) (792,504) -6.84 -7.12 685611
Operating profit 992,781 1,093,005 6.33 9.83 496032
Financial charges 41 (329,982) (225,395) -2.10 -2.03 480180
Fair value gain on investment property 10 101,250 112,500 0.65 1.01 61875
Profit before taxation 764,049 980,110 4.87 8.81 77727
Taxation 42 (349,510) (323,343) -2.23 -2.91 16927
Profit after taxation 414,539 656,767 2.64 5.90 60800
Earning per share - basic diluted (rupees) 45 4.15 6.57 0.00 0.00 0.72
Profit after taxation for the year 414,539 656,766 2.64 5.90 60800
Other comprehensive income 0.00 0.00
Items that will not be reclassified subsequently to profit and loss 0.00 0.00
Remeasurement of defined benefit liability 27.3 (2,153) (1,919) -0.01 -0.02 6228
Related tax effect 683 534 0.00 0.00 1704
(1,470) (1,385) -0.01 -0.01 4524
Revaluation surplus on free hold land 23 - 419,308 3.77
(1,470) 417,923 -0.01 3.76
Items that may be reclassified subsequently to profit or lo - -
(1,470) 417,923 -0.01 3.76
Total comprehensive income for the year 413,069 1,074,689 2.63 9.66 65324
index analysis analysis for balance sheet 1st side

ASSETS 2022 2021 2020 2022 2021

NON CURRENT ASSETS Note Rupees in thousand
Property, plant and equipment
Operating fixed assets 7 6,298,108 5,722,682 5872413 107.25 97.450
Capital work in progress 8 396,152 417,167 46476 6.75 7.104
6,694,260 6,139,849 5918889 114.00 104.554
Intangible assets 9 1,440 6,445 6445 0.02 0.110
Investment property 10 408,750 307,500 195000 6.96 5.236
Long term investments 11 2,500 100 19 0.04 0.002
Long term deposits 12 51,758 51,007 52042 0.88 0.869
7,158,708 6,504,901 6172395 121.90 110.770
CURRENT ASSETS 0.000
Stores, spares and loose tools 13 495,567 442,955 418741 8.44 7.543
Stock in trade 14 2,168,526 1,121,263 685118 36.93 19.094
Trade debts 15 1,787,468 1,167,876 799171 30.44 19.887
Loans and advances 16 278,928 104,616 208399 4.75 1.781
Trade deposits and short term prepayments 17 27,367 33,878 5003 0.47 0.577
Tax refunds due from the Government 18 529,429 529,200 419605 9.02 9.012
Taxation - net 19 224,526 66,459 297623 3.82 1.132
Cash and bank balances 20 194,542 338,635 134501 3.31 5.767
5,706,353 3,804,882 2968161 97.17 64.792
TOTAL ASSETS 12,865,061 10,309,783 9140556 219.08 175.563
index analysis for inome statement 2nd side

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES 2022 2021 2020 2022 2021
Authorized share capital 21.1 2,000,000 1,250,000 1250000 160.00 100.00
Issued, subscribed and paid up share capital 21.2 1,000,000 847,000 847000 80.00 67.76
Reserves 22
Capital reserves - Share premium 177,000 330,000 330000 14.16 26.40
Revenue reserves - Unappropriated profit 2,618,421 2,305,352 1904070 209.47 184.43
Merger reserve 9.2 -6,445 - -0.52
Surplus on revaluation of fixed assets 23 1,392,042 1,392,042 972734 111.36 111.36
5,181,018 4,874,394 414.48 389.95
NON CURRENT LIABILITIES
Long term financing 24 670,698 287,969 334580 53.66 23.04
Long term diminishing musharaka 25 577,566 964,570 1407081 46.21 77.17
Lease liabilities 26 9,300 17,899 40387 0.74 1.43
Deferred liabilities 27 621,789 448,301 364794 49.74 35.86
Deferred grant 28 30,094 1,038 5934 2.41 0.08
GIDC payable 29 - 77,012 426196 6.16
1,909,447 1,796,789 2578972 152.76 143.74
CURRENT LIABILITIES
Trade and other payables 30 3,231,916 1,902,819 1201550 258.55 152.23
Unclaimed dividend 2,308 5,303 1020 0.18 0.42
Mark-up accrued 31 82,866 38,618 78374 6.63 3.09
Short term borrowings 32 1,790,853 1,161,440 1138575 143.27 92.92
Current portion of long term liabilities 33 666,653 530,420 88261 53.33 42.43
5,774,596 3,638,600 2507780 461.97 291.09
CONTINGENCIES AND COMMITMENTS 34
TOTAL EQUITY AND LIABILITIES 12,865,061 10,309,783 9140556 1029.205 824.7826
common size analysis for income statement

2022 2021
Note Rupees in thousand
Sales 35 15,681,372 11,123,793
Cost of sales 36 (13,616,595) (9,238,284)
Gross profit 2,064,777 1,885,509
Selling and distribution expenses 37 (805,901) (576,501)
General and administrative expenses 38 (245,148) (200,583)
Other operating expenses 39 (80,998) (107,711)
Other income 40 60,051 92,291
(1,071,996) (792,504)
Operating profit 992,781 1,093,005
Financial charges 41 (329,982) (225,395)
Fair value gain on investment property 10 101,250 112,500
Profit before taxation 764,049 980,110
Taxation 42 (349,510) (323,343)
Profit after taxation 414,539 656,767
Earning per share - basic diluted (rupees) 45 4.15 6.57
Profit after taxation for the year 414,539 656,766
Other comprehensive income
Items that will not be reclassified subsequently to profit and loss
Remeasurement of defined benefit liability 27.3 (2,153) (1,919)
Related tax effect 683 534
(1,470) (1,385)
Revaluation surplus on free hold land 23 - 419,308
(1,470) 417,923
Items that may be reclassified subsequently to profit or loss - -
(1,470) 417,923
Total comprehensive income for the year 413,069 1,074,689
 2020 2022 2021

8856601 177.06 125.60

7674958 -153.75 -104.31
1181643 23.31 21.29
501041 -9.10 -6.51
208306 -2.77 -2.26
60662 -0.91 -1.22
84398 0.68 1.04
685611 -12.10 -8.95
496032 11.21 12.34
480180 -3.73 -2.54
61875 1.14 1.27
77727 8.63 11.07
16927 -3.95 -3.65
60800 4.68 7.42
0.72 0.00 0.00
60800 4.68 7.42
0.00
0.00
6228 -0.02 -0.02
1704 0.01 0.01
4524 -0.02 -0.02
4.73
-0.02 4.72
#VALUE!
-0.02 4.72
65324 4.66 12.13