CO
NTENTS
Company
Directors
Auditors’
Statemen
Statemen
Statemen
Statemen
Statemen
Notes to
y’s informati
s’ Report (En
’ Review Rep
nt of Financi
nt of Profit o
nt of Compre
nt of Cash Flo
nt of Change
the Financia
on
glish & Urdu
port
al Position
or Loss Accou
ehensive Inc
ow
es in Equity
al Informatio
u)
unt
ome
on
02
03‐06
07
08
09
10
11
12
13‐21
For the Half year ended December 31, 2019 | 1
CO
Boa
Mr
Mr
Mr
Mr
Mr
Ms
Mr
Mr
Mr
Boa
Mr
Mr
Mr
Ms
Boa
Ms
Mr
Mr
Chi
Mr
Com
Mr
Ban
Ban
Fay
Hab
Hab
Me
Sta
BanAlli Au
EY
Cha
Bea
Leg
Mo
1st
Blo
MPANY IN
ard of Direct
r. Jonathan R
r. Khaleequr
r. Shabbir Ah
r. Perwez Ahm
r. Nasim Hyd
s. Huma Pash
r. Asim Shabb
r. Usama Reh
r. Rehan Rah
ard Audit Co
r. Nasim Hyd
r. Khaleequr
r. Perwez Ahm
s. Huma Pash
ard HR & Re
s. Huma Pash
r. Shabbir Ah
r. Nasim Hyd
ief Financial
r. Muhamma
mpany Secre
r. Muhamma
nkers
nk Al Habib L
ysal Bank Lim
bib Bank Lim
bib Metropo
eezan Bank L
andard Chart
nk Alfalah Limied Bank Lim
ditors
Ford Rhodes
artered Acco
aumount Ro
gal Advisor
ohsin Tayeba
t Floor, Dime
ock‐9, Kehkas
NFORMAT
tors
R. Simon
Rahman
med
med
er
ha
bir Patka
hman
man
ommittee
er
Rehman
med
ha
emuneration
ha
med
er
Officer
ad Faheem
etary
ad Usama Sid
Limited
mited
mited
olitan Bank L
Limited
tered Bank (P
mited mited
s,
ountants Pro
ad, Karachi.
aly & Co.
e Centre BC‐4
shan, Clifton
TION
Direc
Direc
Direc
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Direc
Direc
Direc
Direc
Chief
Chair
Mem
Mem
Mem
n Committee
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Mem
Mem
ddiqui
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Pakistan) Lim
ogressive Plaz
4,
, Karachi.
ctor/Chairma
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f Executive O
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Registered O
H‐23/4A, Sch
Landhi, Karac
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K&N Centre, Karachi
Factory
Sindh
Plot # H‐23/4
Landhi Indus
B‐4/A, SITE, K
Plot # A‐5, SI
Plot # C‐3, SI
Plot # C‐31 S
Plot # F‐89, S
Plot # F‐125,
Plot # F‐342,
Plot # D‐202,
Plot # 342/A,
Survey # 81, 181,
186 to 190, N
Tapo Gabopa
Balochistan
Plot# D‐12 to
HITE, all in M
District Lasbe
Share Regist
FAMCO Asso
8‐F, Next to H
PECHS, Shah
Website
http://www.
Office
heme # 3, La
chi.
ng
160 Banglor
4‐A & H‐23‐/
strial Area, La
Karachi.
TE, Karachi.
TE, Karachi.
ITE, Karachi.
SITE, Karachi
SITE, Karach
SITE, Karach
, SITE, Karach
, Haroonaba
242, 72 to 7
N.C # 92, 156
at, Keamari T
o D‐17, K‐1 to
Mauza Pathra
ela, Balochis
rar/Transfer
ociate (Pvt.) L
Hotel Faran
rah‐e‐Faisal,
feroze1888.
ndhi Industr
re Town, Sha
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andhi, Karac
.
.
hi.
hi.
hi.
d, SITE, Kara
5, 165, 166,
6, 210, 211, 2
Town, Karach
o K‐3, M‐34,
a, Tehsil Hub
tan.
r Agent
Ltd
Nursery, Blo
, Karachi.
com
ial Area,
ahrah ‐e‐Fais
e # 3,
hi.
achi.
171, 172, 17
243, Deh Mo
hi.
,
ock‐6,
sal,
76 to
oachko,
For the Half year ended December 31, 2019 | 2
DIR
The
audi
ECO PolicsignAlthFY20in in Duriutilityeartake19.9billiobillioat CWorgovein th IND Firstgrewthe undtargexpe Alarsamshorin a sectliqua hapric FINA
Duri
of 2
incre
of la
tax i
impa
exch
year
RECTORS’
Directors of
ited Financia
ONOMIC OUT
cy steps takes of recoverough, GDP g021 and 4.2%nterest rate,
ing CY20, infty prices andr. As a consee place in se9 billion in FYon versus USon for FY202Y19 end on rld Bank. In ernment seche first half o
USTRY OVER
t five monthw 4.68% to textile sectoer review agget of $13.3ected to tak
rmingly, cottme time last rtage and foyear to meetors, in the idity pressurandful of faving fixed for
ANCIAL PERF
ing the half y
24.64% over
eased propo
ast year. Pro
is Rs. 1,654
act of the sh
hange gain a
r. Another re
REPORT
f Feroze1888
al Statement
TLOOK
en over the ry in shape ogrowth is like% in FY2022 low base eff
flation is prod second rouquence, intecond half ofY2018. ContSD 8.6 billion20. Foreign eaccount of saddition to curities. FX reof CY20.
RVIEW
hs of curren$5.76 billionor for replacgainst $453 3 billion fore the lead in
ton arrivals year. The dorce the textet its require2019‐20 bure on the indvorable mear five years,
FORMANCE
year ended u
the corresp
ortionately to
ofit before ta
million i.e. 2
harp rupee
accrued in co
eason of dec
8 Mills Limit
s along with
last two yeaof decline inely to remaidriven by g
fect, and pick
ojected to reund impact oerest rates arf the year. Ctinuing this tn for the samxchange resstart of IMF lthis, the goeserves are e
nt fiscal yean comparedcing and instmillion in th FY20 with n overseas s
as of Decemdrop in prodtile sector toements. Theudget and isdustry. Howasures in Teprompt sale
OVERVIEW
under review
onding perio
o Rs. 12,036
ax is Rs. 1,83
26.77 % lowe
appreciation
orresponding
rease in prof
ted (‘the Com
auditors’ re
ars continuen Current Acn subdued aradual recovk‐up in devel
emain elevaton food pricere expected Current Accotrend, CAD hme period laerves of SBPloan programvernment haexpected to
r 2019‐20 w to the samtalling new ihe same periprojected hipments.
mber 15, 20duction of coo increase ce industry has required twever, the teextile Policyes tax refund
w, the Compa
od last year
million and
31 million i.e
er than corre
n via‐a‐vis U
g period of
fit is the with
mpany) are p
view report
e to lead to count deficitat about 2.6%very in manulopment spe
ed mainly ines. However,to fall by arount Deficit (has droppedast year. CADP improved fm and resumas been ableremain elev
were more ee period of mported maiod of 2018. investment
19 droppedotton – a kecotton impoas also lost itto pay salesextile industry 2020‐25 byd system or r
any’s net sal
. On the oth
Rs.588 millio
e. 22.13% low
esponding pe
S$ since Jun
last year has
hdrawal of ta
pleased to p
thereon for
improvement, better FX % in FY2020ufacturing anending.
n the first ha inflation is eound 200bps(CAD) narrowd massively aD is expecterom USD 7.3mption of flowe to attract vated due to
encouragingthe precedachinery incAccording tof $1 billio
d to 7.86 miley raw materts. The induts zero‐rateds tax from try of Pakistay the goverrestoration o
es revenue i
her hand cos
on respectiv
wer than co
eriod last ye
ne 30, 2019
s now turne
ax credit und
present the p
the half yea
nt in the mareserves po
0, it is anticipnd agricultur
alf of CY20, destimated tos in CY20, witwed to USD and for 1HFYd to remain3 billion at CYws from musizable forethe planned
g as textile ing year. Onreased by 17to statistics, on. The rea
llion bales aerial for texustry needs d status, alothe current an had high nment amidof zero‐ratin
increased to
st of sales a
ely in compa
rresponding
ear. The dip i
on export p
d into excha
der section 6
performance
r ended 31 D
acros as the osition and spated to impre sectors am
driven by upo fall sharply th the major13.8 billion Y2020 has c at manageaY18 end to altilateral ageign portfoliod issuance of
shipments tn the other 7% to $480 the industrydymade ga
against 9.96 xtile mills – at least 15 ng with fourfiscal year,hopes for thd regionally ng regime.
Rs. 16,172 m
and administ
arison with c
period last
in profit is d
proceeds rea
ange loss du
65B.
e review and
December 20
economy is table exchanprove aroundmid expected
pward adjustin second har decline projin FY2019 frlocked‐in at able level ofaround USD 1encies such ao investmentf Internation
to overseas hand, investmillion in thy is eyeing arment sub‐s
million baleis likely to cmillion cottr other majo which has he announcecompetitive
million with
trative expen
correspondin
year and pro
ue to the im
alization. The
uring the cur
d the un‐
019.
showing nge rate. d 3.6% in d decline
ments in alf of the jected to rom USD USD 2.2
f USD 5.3 11 billion as ADB & t in local nal Bonds
markets tment in he period n export sector is
es at the cause its ton bales or export built‐up
ement of e energy
a growth
nses also
ng period
ofit after
mmediate
e foreign
rrent half
For the Half year ended December 31, 2019 | 3
DIVI
Con
half
LOO
As w
ende
perf
strat
facil
stak
ACK
We
insti
with
valu
For a
Chie
Kara
Date
IDEND AND
sidering Com
year ended
OKING AHEA
we move for
eavor to exp
formance, le
tegy, the qu
ities, will co
keholders, th
KNOWLEDGE
acknowledg
itutions, sha
h the custom
e added solu
and on beha
Rehan Rahm
ef Executive
achi
e: 26 Februa
APPROPRIA
mpany’s perf
31 Decembe
D
rward to cap
pand our out
ed by our de
uality edge o
ontinue to pr
us translatin
EMENT AND
ge and app
reholders an
mers is our as
utions to our
alf of the Boa
man
Officer
ary 2019
TION
formance th
er 2019.
pture the ne
treach, acros
eep underst
of our produ
ropel growth
ng into greate
APPRECIATI
reciate the
nd members
sset. We are
r customers
ard of Directo
e Board of D
ew and emer
ss our stake
anding of th
cts, as well
h for the Com
er progress f
ON
efforts of t
of the board
proud of ou
to grow our
ors
Directors has
rging opport
holders, eve
he consume
as the state
mpany. This,
for all of us.
the employe
d of director
ur commitme
business and
s recommen
tunities in o
en more effe
er needs and
‐of‐the‐art s
, in turn, wil
ees and val
rs. At Feroze1
ent to excell
d sustain cus
ded, a divide
ur existing a
ectively and s
d aspirations
systems and
ll cascade in
luable supp
1888, our str
ence in prod
stomer confi
Huma Pas
Director
end of Rs. 1
and new ma
sustainably.
s, along with
processes a
to bigger po
ort of our
rategic and e
duct safety, q
fidence.
sha
r
.75 per shar
rkets, it sha
Our industry
h our innov
at our manu
ositive impac
customers,
enduring rela
quality and p
re for the
all be our
y‐leading
ation‐led
facturing
ct on our
financial
ationship
providing
For the Half year ended December 31, 2019 | 4
CY20 BPS CY20
CAD
ADB CAD CY19 CY18
CY20 Securities
-
Zero rated status -
For the Half year ended December 31, 2019 | 5
For the Half year ended December 31, 2019 | 6
For the Half year ended December 31, 2019 | 7
Cond
As a
ASSE
Non
Prop
Intan
Long
Long
Curr
Stor
Stoc
Trad
Adva
Taxa
Cash
Tota
EQU
Shar
Auth
400,
Issue
Rese
Liab
Non
Defe
Leas
Long
Curr
Trad
Shor
Accr
Curr
Curr
Uncl
Unp
CON
Tota
The
densed Inter
t December
ETS
current asse
perty, plant a
ngible assets
g term invest
g term depos
rent assets
es and spare
ck in trade
de debts ‐ con
ances, depos
ation ‐ net
h and bank ba
al assets
UITY AND LIA
re capital and
horised share
,000,000 (201
ed, subscribe
erves
ilities
‐current liab
erred liability
se liabilities
g term financ
rent liabilities
de and other
rt term borro
rued mark‐up
rent portion o
rent portion o
laimed divide
aid dividend
NTINGENCIES
al equity and
annexed not
Muhamma
Chief Finan
rim Statemen
31, 2019
ets
nd equipmen
ments
its
s
nsidered good
its, prepayme
alances
BILITIES
d reserves
e capital
18: 400,000,0
ed and paid‐u
ilities
cing
s
payables
owings
p
of lease liabil
of long term f
end
AND COMM
liabilities
es 1 to 21 for
ad Faheem
cial Officer
nt of Financia
nt
d
ents and othe
000) ordinary
up capital
ities
financing
MITMENTS
rm an integra
al Position
er receivable
y shares of Rs
al part of thes
Ch
es
10/‐ each
se condensed
Rehan Rah
hief Executiv
Note
5
6
7
8
9
10
11
12
d interim fina
hman
e Officer
Un‐a
Decem
2
‐‐‐‐
15,8
15,8
1,0
9,1
7,2
2,9
4
4
21,3
37,1
4,0
3,7
16,7
20,4
1
2
3,2
3,7
5,0
7,2
1
4
12,9
37,1
ancial statem
audited
mber 31, 019
‐‐‐‐‐ (Rupees
800,373
28,239
‐
16,380
844,992
064,187
143,336
205,636
944,488
448,750
497,677
304,074
149,066
000,000
768,009
726,914
494,923
198,717
242,592
289,647
730,956
020,948
206,197
62,763
115,326
424,213
1,659
92,081
923,187
149,066
ents.
Huma Pa
Direct
Audit
June 201
in '000) ‐‐‐‐‐‐
13,458,
1,
186,
16,
13,663,
908,
6,411,
7,629,
1,604,
482,
3,267,
20,304,
33,967,
4,000,
3,768,
16,335,
20,103,
143,
1,991,
2,135,
4,910,
6,490,
50,
275,
1,
11,728,
33,967,
asha
tor
ted
30, 9
‐‐‐
,882
,852
,153
,380
,267
,514
,087
,994
,581
,195
,698
,069
,336
,000
,009
,440
,449
,494
‐
,546
,040
,688
,000
,898
‐
,388
,873
‐
,847
,336
For the Half year ended December 31, 2019 | 8
Cond
For t
Sale
Cost
Gros
Adm
Distr
Othe
Othe
Ope
Fina
Prof
Taxa
Prof
Earn
The
densed Inter
the Half year
s – net
t of sales
ss profit
ministrative co
ribution cost
er expenses
er income
rating profit
nce cost
fit before tax
ation
fit after taxat
ning per share
annexed not
Muhamm
Chief Fina
rim Statemen
r ended Dece
ost
xation
tion
e basic & dilu
es 1 to 21 for
mad Faheem
ancial Officer
nt of Profit or
ember 31, 20
uted (Rupees
rm an integra
r
r Loss (Un‐au
19
Note
13
14
15
s)
al part of thes
Chie
udited)
Half y
December 32019
‐‐‐‐‐‐‐
16,172,48
(12,036,829
4,135,65
(588,405
(1,106,996
(551,085
(2,246,486
1,889,170
94,92
1,984,09
(152,962
1,831,13
(177,380
1,653,75
4.3
se condensed
Rehan Rahm
ef Executive O
year Ended
31,
Decem2
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
5 12,9
9) (9,78
6 3,1
5) (50
6) (89
5) (14
6) (1,55
0 1,6
9 7
9 2,4
2) (6
7 2,3
0) (9
7 2,2
9
d interim fina
man
Officer
mber 31,2018
‐‐ (Rupees in
975,716
80,160)
195,556
09,307)
99,918)
42,176)
51,401)
644,155
776,344
420,499
69,098)
351,401
93,004)
258,397
5.99
ancial statem
Qua
December 312019
'000) ‐‐‐‐‐‐‐‐‐
8,522,158
(6,445,560)
2,076,598
(293,798)
(587,612)
(132,993)
(1,014,403)
1,062,195
27,968
1,090,163
(93,964)
996,199
(86,358)
909,841
2.41
ents.
Hum
Di
arter Ended
1,
Decem20
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
8 6,8
) (5,0
8 1,8
) (2
) (5
) (
) (8
5 9
8 6
3 1,5
) (
9 1,5
) (
1 1,5
1
ma Pasha
irector
mber 31, 018
861,038
37,292)
823,746
50,879)
11,453)
95,382)
57,714)
966,032
630,984
597,016
40,883)
556,133
44,513)
511,620
4.01
For the Half year ended December 31, 2019 | 9
Cond
For t
Prof
Othe
Tota
The
densed Inter
the Half year
fit after taxat
er comprehe
al comprehen
annexed not
Muh
Chief
rim Statemen
r ended Dece
tion
nsive income
nsive income
es 1 to 21 for
hammad Fahe
f Financial Of
nt of Compre
ember 31, 20
e
e for the perio
rm an integra
eem
fficer
hensive Inco
19
Decem
20
‐‐
1,
od 1,
al part of thes
ome (Un‐audi
Half year
mber 31, 019
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
,653,757
‐
,653,757
se condensed
Rehan Ra
Chief Execut
ited)
r Ended
December2018
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ (R
2,258
2,258
d interim fina
ahman
tive Officer
r 31,
D
Rupees in '00
8,397
‐
8,397
ancial statem
Quar
ecember 31,2019
00) ‐‐‐‐‐‐‐‐‐‐‐‐‐
909,841
‐
909,841
ents.
Hum
Dire
rter Ended
Decem20
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
1 1,
‐
1 1,
a Pasha
ector
mber 31, 018
‐‐‐‐
511,620
‐
511,620
For the Half year ended December 31, 2019 | 10
CondeFor th
Balanc(Audit
Final cendedper sh
Net prOther for the
Total cfor the31, 20
Balanc
Balanc(Audit
Final cendedper sh
Net prOther for the
Total cfor the31, 20
Balanc
The an
MC
ensed Interime Half year e
ce as at June ted)
cash dividendd June 30, 201are
rofit for the pcomprehense period
comprehensie period ende018
ce as at Dece
ce as at June ted)
cash dividendd June 30, 201are
rofit for the pcomprehense period
comprehensie period ende019
ce as at Dece
nnexed notes
Muhammad Chief Financia
m Statement ended Decem
30, 2018
d for the year 18 @ Rs.2.45
period sive income
ve income ed December
ember 31, 20
30, 2019
d for the year 19 @ Rs.3.35
period sive income
ve income ed December
ember 31, 20
s 1 to 21 form
Faheem al Officer
of Changes inmber 31, 2019
Sharcapit
‐‐‐‐‐
3,768,0
r
18 3,768,0
3,768,0
r
19 3,768,0
m an integral
n Equity (Un‐9
re tal Merge
reserv
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
009 543,4
‐
‐
‐
‐
009 543,4
009 543,4
‐
‐
‐
‐
009 543,4
part of these
ReChief
‐audited)
Capi
er ve
Sharepremiu
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
413 215,2
‐
‐
‐
‐
413 215,2
413 215,2
‐
‐
‐
‐
413 215,2
e condensed i
ehan RahmanExecutive Of
Re
tal
e um
Revaluasurplupropeplant equipm
‐‐‐‐‐‐‐‐‐‐ (Rup
50 1,499
‐
‐
‐
‐
50 1,499
50 1,499
‐
‐
‐
‐
50 1,499
nterim finan
nfficer
eserves
Re
ation s on erty, and ment
Accup
pees '000) ‐‐‐‐
9,008 10
‐ (
‐ 2
‐
‐ 2
9,008 11
9,008 14
‐ (1,
‐ 1
‐
‐ 1
9,008 14
cial statemen
evenue
umulated profit
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
0,141,524 1
923,162)
2,258,397 2
‐
2,258,397 2
1,476,759 1
4,077,769 1
262,283) (
1,653,757
‐
1,653,757
4,469,243 1
nts. HumD
Total
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
12,399,195 1
(923,162)
2,258,397
‐
2,258,397
13,734,430 1
16,335,440 2
1,262,283) (
1,653,757
‐
1,653,757
16,726,914 2
ma PashaDirector
Total equity
‐‐‐‐‐‐‐‐‐‐‐
16,167,204
(923,162)
2,258,397
‐
2,258,397
17,502,439
20,103,449
(1,262,283)
1,653,757
‐
1,653,757
20,494,923
For the Half year ended December 31, 2019 | 11
CondFor t
CASH
Prof
Adju
Dep‐ O‐ R
AmoWritFina
‐ L‐ O
DefeInteDividLoss
(Incr
StorStocTradAdva
IncreTrad
Net
FinaIncoDefeLong
Net
CASH
FixedProcInteDivid
Net
CASH
DividLeasShorLong
Net
Net
Cash
Cash
The
densed Interthe Half year
H FLOW FRO
fit before taxa
ustment for:
reciation on: Operating fixRight of use aortization te‐off of propnce cost of: Lease liabilitieOthers erred liability rest income dend Income on disposal o
rease) / decr
es and spareck in trade de debt ances, depos
ease in currede and other
cash used in
nce cost paidme tax paid erred liability g term depos
cash used in
H FLOW FRO
d capital expeceeds from direst income rdend Income
cash used in
H FLOW FRO
dend paid se rental paidrt term borrog term financ
cash generat
(decrease) /
h and cash eq
h and cash eq
annexed not
MuhammaChief Finan
rim Statemenr ended Dece
OM OPERATIN
ation
ed assets assets
perty, plant a
es
of property, p
ease in curre
s
its, prepayme
ent liability payables
operations
d
paid its
operating ac
OM INVESTING
enditure isposal of opereceived received
investing act
OM FINANCIN
d owings – net ce ‐ net
ted from fina
increase in c
quivalent at b
quivalent at e
es 1 to 21 for
ad Faheem ncial Officer
nt of Cash Floember 31, 20
NG ACTIVITIE
nd equipmen
plant and equ
ent asset
ents and othe
ctivities
G ACTIVITIES
erating fixed
tivities
NG ACTIVITIES
ancing activit
cash and cash
beginning of t
end of the pe
rm an integra
ows (Un‐audi19
ES
nt
uipment ‐ ne
er receivable
S
assets
S
ties
h equivalent
the period
eriod
al part of thes
RehaChief Exe
ted)
t
es
se condensed
n Rahmanecutive Office
d interim fina
er
Decem2
‐‐‐‐‐‐‐‐‐
(2
(1
(3
(1
(2
(2
(1
(2
ancial statem
HuD
mber 31, 2019
‐‐‐‐‐‐‐(Rupees
1,831,137
565,359 67,276
259 13,218
26,030 126,932 55,840
(38,952) (55,977) 31,721
791,706
(155,673) 2,732,249)
424,358 1,153,868)
3,617,432)
110,260
(884,329)
(115,065) (143,935)
(617) ‐
1,143,946)
2,692,485) 53,014 39,008 56,033
2,544,430)
1,170,416) (74,352) 716,197
1,446,926
918,355
2,770,021)
3,267,698
497,677
ents. ma Pasha Director
Decemb
201
s in '000)‐‐‐‐‐‐
2,
(3,2(9(7
(4,9
(1,4
(1,5
(1,1
(1,0
(9
3,
2,
ber 31, 18
‐‐‐‐‐‐‐‐‐‐
351,401
429,405‐
236‐
‐69,098
‐‐‐
3,427
502,166
6,565249,793)984,549)745,920)
973,697)
699,404
420,727)
(50,660)(81,860)
‐(687)
553,933)
112,733)28,431
‐‐
084,302)
922,094)‐
487,679243,796
809,382
171,147
203,364
374,511
For the Half year ended December 31, 2019 | 12
NoteFor t
1
2
2.1
‐
‐
2.2
2.3
3
3.1
es to the Conthe Half year
THE COMP
Feroze188The sharesthe producIndustrial A
BASIS OF P
These constandards applicable
InternationStandards
Provisions
Where thethe provisi
These confinancial stfor the yeasubject to Listed Com
The figureincome fobeen revieDecember
ACCOUNT
The accoufinancial sstatement
New / Rev
The Compimprovem
Standards
IFRS 16 ‐ LIFRIC 23 ‐ UIFRS 9 ‐ PreIAS 28 ‐ LoIAS 19 ‐ Pla
ndensed Inter ended Dece
PANY AND IT
88 Mills Limites of the Comction and expArea, Karach
PREPARATIO
densed interas applicabin Pakistan f
nal AccountiBoard (IASB)
of and direct
e provisions oions of and d
densed intertatements anar ended Jun limited scopmpanies (Cod
s of the condr the quarterewed by the ar 31, 2019 and
ING POLICIES
unting policietatements ats for the yea
vised Standar
pany has adoents to accou
, amendmen
eases Uncertainty oepayment Feong‐term Intean Amendme
rim Financialember 31, 20
TS OPERATIO
ed (the Compmpany are quport of towelsi.
N
rim financial sle in Pakistafor interim fin
ng Standard ) as notified u
tives issued u
of and directirectives issu
rim financial nd should be ne 30, 2019. Tpe review bye of Corporat
densed interirs ended Decauditors of thd December
S
es and the mre the same r ended June
rds, Amendm
opted the folunting standa
nts and Interp
over income teatures with Nerests in Assoent, Curtailme
l Statements19
NS
pany) was incoted on Pakis. The registe
statements han for interimnancial report
(IAS) 34 ‐ ‘Iunder the Com
under the Com
ives issued ued under the
statements dread in conjuThese condeny the auditorte Governanc
m statementember 31, 20he Company, 31, 2018.
methods of as those ap
e 30, 2019 exc
ments, Interp
llowing accouards which be
pretation
tax treatmenNegative Comciates and Joent or Settlem
(Un‐audited
corporated inistan Stock Eered office of
have been prm financial ting comprise
nterim Finanmpanies Act,
mpanies Act,
under the Come Companies
do not includunction with nsed interim rs, and are bce) Regulatio
t of profit or l019 and Deceas they have
computationpplied in the cept as disclo
retation and
unting standecame effect
nts mpensation (Aoint Ventures ment (Amend
d)
n Pakistan as xchange Limf the compan
epared in accreporting. The of:
ncial Reportin 2017; and
2017.
mpanies Act,Act, 2017 ha
de all the infothe annual afinancial stat
being submittns, 2019 and
loss and condember 31, 20e reviewed th
n used in thepreparation
osed below;
Improveme
ards, amendive for the cu
Amendments(Amendmendments)
a Public Limiited. The Comy is situated
cordance withe accountin
ng’, issued b
, 2017 differ ve been follo
ormation andaudited financtements are ted to the sh Section 237
densed interi018 and noteshe cumulative
e preparatioof the Comp
nts
dments and iurrent period
s) nts)
ited Companmpany is prinat H‐23/4‐A S
th the accounng and repo
by the Intern
with the reqowed.
d disclosures cial statemenunaudited, hhareholders of the Comp
im statements forming pae figures for t
on of these cpany's annua
nterpretation:
y in October ncipally engaScheme # 3,
nting and reprting standa
ational Acco
uirement if I
required in ants of the Comhowever haveas required panies Act, 20
t of comprehrt thereof hathe half year
condensed inal audited fin
n of IFRSs an
1972 .aged in Landhi
porting rds as
unting
AS 34,
annual mpany e been by the 017.
ensive ve not ended
nterim nancial
nd the
For the Half year ended December 31, 2019 | 13
3.2
Improvem
IFRS 3 ‐ BuIFRS 11 ‐ JoIAS 12 ‐ IncIAS 23 ‐ Bo
The adoptaccountingthese cond
Impact of
IFRS 16 sOperating IFRS 16 se16, distincexceptionscorresponLease obligoffice build
The Compmethod, trecognisedto use thewith the si
The right‐prepaid leremaining Company d
The lease follows:
Operating
Impact of dPrepayme
Lease liabi
Weighted
The impac
Assets Property, pPrepayme
Total asset
Liabilities Lease liabiCurrent po
ments to Acco
usiness Comboint Arrangemcome Taxes ‐orrowing Cost
ion of the abg policies of tdensed interi
adoption of
upersedes IALeases Incen
ets out the prction betwees and will beding lease liagations of theding, mill and
pany adoptedthe standardd at the datee transition pimilar charact
of‐use assetsase paymentlease paymedid not have
liabilities as a
lease comm
discounting nts
ilities at July
average incr
ct of adoption
plant and equnts
ts
lities ortion of leas
ounting Stand
inations ‐ Prements ‐ Previ‐ Income tax cts ‐ Borrowin
bove standardthe Companym financial st
IFRS 16 – Lea
AS 17 'Leasentives and SICrinciples for ten operatinge recognized bilities. e Company cd production
d IFRS 16 witd is applied e of initial appractical expeteristics.
s were recogts previouslyents, discounany sub‐leas
at July 01, 20
mitments as at
01, 2019
remental bor
n of IFRS 16 a
uipment
e liabilities
dards Issued
eviously held iously held Inconsequenceg costs eligib
ds, amendmey except for Itatements.
ases
es', 'IFRIC 4' C‐27 Evaluatinthe recognitig and financin statement
omprises of lplants.
th effect fromretrospectivplication withedient allowin
gnized based recognized. nted using the or finance l
019 can be re
t June 30, 20
rrowing rate
s at July 01, 2
by the IASB i
Interests in anterests in a joes of paymentble for capital
ents, interpreFRS 16. The
Determiningng the Substaon, measuree leases hast of financial
lease arrange
m July 1, 201vely with theh no restatemng the Comp
d on the amoLease liabilit
he incrementleases as on J
econciled to t
019
as at July 01,
2019 [increas
in December
a joint operatoint operatiots on financiaization
etation and imimpact of ad
g whether aance of Transment, presens been remol position by
ements giving
19 using the e cumulativement of comany to use a
ount equal tties were rectal borrowingJuly 1, 2019.
the operating
, 2019
se/ (decrease
r 2017
tion on al instrument
mprovementsoption of IFR
an Arrangemsactions Invontation and doved and alway of right
g it the right‐
modified rete effect of parative infosingle discou
to lease liabicognized basg rate at the
g lease comm
e)] is as follow
ts classified a
s did not havRS 16 is expla
ment containsolving the Legdisclosure of l lease contrt‐of‐use asse
‐of‐use over p
trospective minitially applormation. Theunt rate to a
ilities, adjusted on the prdate of initi
mitments as o
ws:
s equity
ve any effect ained in note
s a Lease, 'Sgal Form of a leases. Underacts, with lets along with
premises utili
method. Undying the stae Company e portfolio of
ed for any rresent value ial applicatio
of June 30, 2
(Rupees in
49
(8(3
37
1
(Rupees in
40(3
37
298
37
on the 3.2 to
SIC‐15' Lease. er IFRS imited h their
ized as
er this andard elected leases
related of the n. The
019 as
n '000)
95,653
89,413) 32,423)
73,817
14.47%
n '000)
06,240 32,423)
73,817
91,594 82,223
73,817
For the Half year ended December 31, 2019 | 14
3
4
5
5.1
The impa Condense
Depreciat
Interest e
Amendm
The followCompany
IAS1 / IAS
ACCOUN
The prepstandardsexercise icontinualevents ththese est
During thmanagemsame as except as
PROPERT
Operating
Capital w
Right of u
Operatin
Balance a
Addition year
Disposals(NBV)
Write‐off
Depreciat
Balance a
act of adoptio
ed interim st
tion charge o
expense on le
ment to accou
wing amendmy and would b
S 8 Definition
TING ESTIMA
aration of ths which reqits judgment lly evaluatedhat are belietimates.
he preparatioment in applythose that ws disclosed ot
TY, PLANT AN
g fixed assets
work‐in‐progre
use asset
g fixed asset
at the beginn
during the pe
s during the p
f during the p
tion charged
at the end of
on of IFRS 16
tatement of p
on right‐of‐us
ease liabilities
unting and re
ment to the abe effective f
n of Material
ATES AND JU
ese condensuires the usin the proces and are basved to be re
on of these ying Companywere applied therwise.
ND EQUIPME
s
ess
ts
ing of the pe
eriod /
period / year
period (NBV)
during the p
the period /
for the perio
profit and los
se assets
s
eporting stan
accounting anrom the date
DGMENTS
ed interim fise of certainss of applyingsed on historeasonable un
condensed iy’s accountinto the audite
NT
riod / year
‐ net book va
eriod / year
year
od ended Dec
ss
dards that ar
nd reporting e mentioned
nancial state critical accog the Comparical experiennder the circ
interim finanng policies aned annual fin
alue
ember 31, 20
re not yet eff
standards as below:
ements is in counting estimny’s accountince and otheumstances. H
ncial statemend the key sonancial statem
Note
5.1
5.2
5.1.1
5.1.1
019 is as follo
fective
applicable in
Effectivbeg
conformity wmates. It alsing policies. Er factors, incHowever, act
ents, the signurces of estimments for the
(Un‐audite
December2019
‐‐‐‐‐‐‐‐‐‐‐‐
12,648
2,81
338
15,800
11,388
1,92
13,31
(84
(13
(565
(663
12,648
ows:
n Pakistan are
ve date (annuginning on or
January 01,2
with the approso requires mEstimates andcluding expectual results m
nificant judgmmation uncere year ended
ed)
31,
‐ Rupees in '0
8,387
3,022
8,964
0,373
8,151
3,634
1,785
4,735)
3,218)
5,445)
3,398)
8,387
67,2
26,0
e relevant to
ual periods r after)
020
oved accountmanagementd judgments ctation of futmay differ fr
ments madertainty were d June 30, 20
(Audited)
June 30, 201
000 ‐‐‐‐‐‐‐‐‐‐‐‐
11,388,1
2,070,7
13,458,8
8,939,6
3,469,8
12,409,5
(88,3
(933,0
(1,021,3
11,388,1
276
030
the
ting t to are ture rom
by the 019,
19
151
731
‐
882
671
875
546
300)
‐
095)
395)
151
For the Half year ended December 31, 2019 | 15
5.1.1
5.1.2
5.2
Details of
Land ‐ Lea
Building o
Leasehold
Plant and
Electric fi
Office eq
Compute
Furniture
Vehicles
Depreciatmillion).
Capital w
Balance a
Addition
Building o
Plant and
Compute
Furniture
Equipmen
Leasehold
Transferr
Building o
Plant and
Compute
Furniture
Equipmen
Leasehold
Adjustme
Fixed ass
Balance a
addition and
asehold
on leasehold
d improveme
d machinery
ittings / equip
uipment
rs
e and fixtures
tion on opera
work‐in‐progr
at the beginn
during the p
on leasehold
d machinery
rs
e and fixtures
nt
d improveme
red to Operat
on leasehold
d machinery
rs
e and fixtures
nt
d improveme
ents
ets in transit
at the end of
d disposal are
land
ent
pment
ating fixed as
ress
ing of the pe
period / year
land
ent
ting fixed ass
land
ents
and stand‐by
the period / y
e as follows:
(Un
Dece
sets for the p
riod / year
sets
y equipment
year
Addition
n‐audited)
ember 31, 2019
‐‐‐‐‐‐‐‐‐‐‐
‐
808,857
‐
1,079,440
8,902
5,790
11,187
1,280
8,178
1,923,634
period amoun
ns (Cost)
(Audite
June 30,
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
1,07
2,16
15
1
1
2
3,46
nted to Rs. 56
ed)
2019 D
‐ Rupees in '0
949
9,894
9,011
6,202
1,230
7,711
5,275
5,582
4,021
9,875
65.45 million
D
‐
Disp
(Un‐audited)
December 312019
000 ‐‐‐‐‐‐‐‐‐‐‐‐
(70,19
(71
(91
(59
(12,31
(84,73
(December 3
(Un‐audite
December 312019
‐‐‐‐‐‐‐‐‐‐‐‐ Rup
1,776,05
429,65
1,551,97
2,34
75,94
2,059,91
3,835,97
(808,85
(1,026,29
(1,835,14
2,000,82
812,20
2,813,02
posal (NBV)
) (Au
1, Jun2
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
‐
‐
‐
2)
‐
2)
8)
4)
9)
5)
1, 2018: Rs. 4
d) (A
1, Jun2
pees in '000 ‐
58 1,
53 1,
72 1,
‐
41
46
‐
12 3,
70 5,
7) (1,0
1) (1,9
‐
‐
‐ (1
‐
7) (3,2
‐
22 1,
00
22 2,
udited)
ne 30, 2019
‐
‐
‐
(61,205)
‐
(109)
(1)
(53)
(26,932)
(88,300)
429.41
Audited)
ne 30, 2019
‐‐‐‐‐‐‐‐‐‐‐‐
,727,930
,180,931
,942,313
5,408
3,457
194,284
28,023
,354,417
,082,347
079,416)
967,151)
(5,408)
(3,752)
159,498)
(9,011)
224,237)
(82,052)
,776,058
294,673
,070,731
For the Half year ended December 31, 2019 | 16
6
6.1
6.2
7
7.1
8
9
LONG TE
The shar2018, appand filingacknowlestood dis
Includes Smillion).
STOCK‐IN
Raw mat
Work‐in‐
Finished
Includes fto Rs. 370
ADVANC
OTHER R
Advances
‐ supplie
‐ employ
Deposits
Prepaym
Other rec
Sales tax
Export re
Due from
Others
LONG TE
Long term
Current p
RM INVESTM
eholders of tproved the vog requiremeedged and resolved on Jul
Sales Tax Ref
N‐TRADE
terial
‐progress
goods
finished good0.19 million (
ES, DEPOSITS
ECEIVABLES
s
rs
yees
ments
ceivables
refundable
ebate / duty d
m Governmen
RM FINANCI
m financing fa
portion
MENTS
the Companyoluntary windnts under thegistered by Sly 17, 2019 i.e
fund Bonds is
ds costing Rs.June 30, 201
S, PREPAYME
drawback
nt
NG
acilities (LTFF
y through a ding up of itshe CompanieSECP throughe. after a per
ssued by the
. 505.21 milli9: Rs.261.96
ENTS AND
F)
special resols subsidiary, Xes Act, 2017h its letter daiod of 90 day
Federal Boar
on (June 30, million).
ution in the Xublimity (Pri7 were fulfillated April 18,ys of aforesai
d of Revenue
Note
7.1
2019: Rs. 352
Note
9.1
annual geneivate) Limiteded on Marc, 2019. Consed letter.
e amounting t
(Un‐a
Decem2
‐‐‐‐‐
2.86 million)
(Un‐a
Decem2
‐‐‐‐‐
1
eral meeting d. All the releh 29, 2018 equently, the
to Nil (June 3
audited)
mber 31, 2019
‐‐‐‐‐‐‐‐ Rupees
5,031,145
2,450,535
1,661,656
9,143,336
written down
audited)
mber 31, 2019
‐‐‐‐‐‐‐‐ Rupees
357,600
352
357,952
39,756
76,793
1,283,830
612,110
538,029
36,018
2,469,987
2,944,488
3,713,860
(424,213)
3,289,647
held on Octevant legal foand the same subsidiary c
30, 2019: Rs.
(Aud
June 30
s in '000 ‐‐‐‐‐
2
2
1
6
n to NRV amo
(Aud
June 30
s in '000 ‐‐‐‐‐
1
1
2
(2
1
ober 27, rmalities me were company
186.15
ited)
0, 2019
‐‐‐‐‐‐‐
,982,549
,330,145
,098,393
,411,087
ounting
ited)
0, 2019
‐‐‐‐‐‐‐
145,802
465
146,267
46,268
161,378
181,568
501,959
507,931
59,210
,250,668
,604,581
,266,934
275,388)
,991,546
For the Half year ended December 31, 2019 | 17
9.1
10
10.1
11
12
12.1
12.2
12.2.
During thvarious cup at theThese facthe loan year. The
TRADE A
Creditors
Accrued l
Workers'
Workers'
Advance
Payable t
Others
Include
SHORT
During thmarkup aassets ofrenewab
During thper annudemand w
CONTING
Continge
No contin
Commitm
Outstand
Outstandguarante
Capital ex
Post date
1 This repre
he period, thommercial bae rates rangincilities are seis repayable e unutilized p
ND OTHER PA
s
liabilities
profits partic
welfare fund
from custom
to provident f
es Gas Infrast
TERM BORRO
he period, that SBP rate plf the Compale/repayable
he period, theum. The portwithin a max
GENCIES AND
encies
ngencies exis
ments
ding letter of
ding letter of e
xpenditure
ed cheques
esents the po
he Company anks amountng from Stateecured againsin five to sixortion of the
AYABLES
cipation fund
d
mers
fund
ructure Deve
OWINGS
he Company us 1% per anny. The portwithin a max
e Company otion of facilitimum validity
D COMMITM
t as at the re
credit
ost dated che
made furtheting to Rs. 1,5 Bank of Pakist specific chax years throuse facilities is
d
elopment Ces
obtained a
nnum and is stion of the faximum validit
obtained a nety utilized duy of 180 days
ENTS
porting date.
eques issued
er draw dow560.50 millionistan (SBP) LTarge on plantgh semi‐anns Rs. 1,123.42
ss amounting
new Export secured againacility utilizety of 180 day
ew FE25 faciluring the pes.
.
to Custom Au
ns on its exin for the impTFF rate plus t and machinual and quar2 million (Jun
Note
10.1
g to Rs. 1,399
Refinance Fnst first Pari Pd during theys.
ity from a coeriod amount
Note
12.2.1
uthorities in r
isting long teort of plant a0.5% to 1% (nery of the Crterly installme 30, 2019: R
(U
De
‐‐‐
.13 million (Ju
Facility from Passu charge e period amo
ommercial bats to Rs. 300
(U
De
‐‐‐
respect of du
erm finance fand machiner(June 30, 201ompany. Thements after aRs. 1,571 milli
n‐audited)
cember 31, 2019
‐‐‐‐‐‐‐‐‐‐ Rupe
1,479,828
3,338,941
83,330
12,822
26,911
22,856
56,260
5,020,948
une 30, 2019
a commerciaon all presenounted to Rs
ank. This carr0.20 million
n‐audited)
cember 31, 2019
‐‐‐‐‐‐‐‐‐‐ Rupe
1,624,283
1,142,373
1,497,193
2,728,854
uties on impo
facilities (LTFry. These car19: 0.5%) pere principal po grace periodion).
(Aud
June 30
ees in '000 ‐‐‐
1,
2,
4,
9: 1,263.55 m
al bank. Thisnt and futures. 416 million
ries markup aand is repay
(Aud
June 30
ees in '000 ‐‐‐
1,
1,
2,
orted items.
FF) from ry mark‐ annum. ortion of d of one
dited)
0, 2019
‐‐‐‐‐‐‐‐‐
,545,488
,966,013
300,626
22,706
10,625
19,297
45,933
,910,688
illion).
s carries e current n and is
at 2.70% yable on
dited)
0, 2019
‐‐‐‐‐‐‐‐‐
,193,693
975,308
,235,205
,366,618
For the Half year ended December 31, 2019 | 18
13
13.1
13.1.1
13.1.
COST OF
Opening
Add: Cost
Less: Clos
Cost of go
Raw mate
Stores an
Salaries, wbenefits
Fuel, pow
Insurance
Repair an
Vehicle ru
Commun
Rent
Depreciat
Amortiza
Entertain
Quality co
Other ma
Opening
Closing w
Raw mat
Opening
Purchase
Less: clos
2 This incluand Rs. 5
SALES
stock of finis
t of goods ma
sing stock of f
oods manufa
erial consum
nd spares con
wages and ot
wer and wate
e expense
nd maintenan
unning expen
ication and t
tion
tion
nment
ontrol and in
anufacturing
work‐in‐proc
work‐in‐proce
erial consum
stock
es during the
sing stock
udes an amou5.84 million i
hed goods
anufactured
finished good
actured
ed
nsumed
ther
r
nce
nses
ransportatio
spection
expenses
cess
ess
med
period
unt of Rs. 40.in respect of
De
Note
13.1
ds
13.1.1
13.1.2
n
23 million (Dstaff gratuity
(Un‐a
Half ye
ecember 31, 2019
‐‐‐‐‐‐‐‐‐
1,098,393
12,600,092
13,698,485
(1,661,656)
12,036,829
7,086,77
1,815,28
1,913,13
1,179,998
26,643
38,825
8,378
41,816
127
576,306
259
1,561
24,900
6,472
12,720,482
2,330,145
(2,450,535)
12,600,092
2,982,549
9,135,370
12,117,919
(5,031,145)
7,086,774
December 31,y expense (De
audited)
ear Ended
Decem31, 2
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
84
10,10
10,94
(1,167
9,78
4 6,1
9 1,3
3 1,5
92
1
3
1
3
5
38
1
10,55
1,47
(1,927
10,10
1,57
8,67
10,24
(4,047
6,19
, 2018: Rs. 33ecember 31,
mber 018
D
‐‐ Rupees in '
46,471
00,765
47,236
7,075)
80,160
198,961
367,039
519,954
22,230
13,794
30,272
10,062
33,147
56,346
85,572
236
1,096
16,697
2,244
57,649
70,271
7,155)
00,765
75,528
71,266
46,794
7,833)
98,961
3.92 million) 2018: Rs. Nil)
(Un
Qua
December 31,2019
'000 ‐‐‐‐‐‐‐‐‐‐‐
1,369,523
6,737,693
8,107,216
(1,661,656
6,445,560
3,662,25
1,036,12
989,27
597,029
18,617
23,991
4,508
20,890
127
289,697
123
751
15,187
5,484
6,664,058
2,524,170
(2,450,535
6,737,693
4,959,959
3,733,444
8,693,403
(5,031,145
3,662,258
in respect of ).
n‐audited)
arter Ended
, Decem20
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
3
3 5,
6 6,
) (1,1
0 5,
58 3
25
71
9
7
1
8
0
7
7
3
1
7
4
8 5,
0 1,
) (1,9
3 5,
9 3,
4 3,
3 7,
) (4,0
8 3,
staff provide
mber 31, 018
903,363
,301,005
,204,368
167,075)
,037,292
3,274,110
747,156
724,969
473,906
7,487
18,222
6,305
19,076
28,664
197,445
118
530
8,019
1,257
,507,265
,720,894
927,155)
,301,005
,383,593
,938,349
,321,942
047,833)
,274,110
ent fund
For the Half year ended December 31, 2019 | 19
14
14.
15
16
OTHER
Loss onasset ‐
ProperwriteoWorke
Worke
Donati
Audito
Exchanof expo
Revers
1 This in(Decem
OTHER
Exchanof expo
Interes
Dividen
TRANS
Relatedmanagother tfollows
Nature
Transa
Sale of
Purcha
Marke
Dispos
Lease r
Donati
R EXPENSES
n disposal of net
rty, plant andff ers' profit par
ers' welfare fu
ions
ors' remunera
nge differencort receivable
sal of markup
cludes donatmber 31, 201
R INCOME
nge differencort receivable
st income
nd income
SACTIONS WI
d parties ofgement persothan those ws:
e of transacti
actions with a
f goods
ases
ting Fee
sal of fixed as
rental paid
ion
operating fix
d equipment ‐
ticipation fun
und
ation
es on realizates
p accrued
tions of Rs. 18 Rs. 0.76 mi
es on realizates
ITH RELATED
f the Compaonnel and stawhich have b
ion
associates
set
Note
xed
‐
nd
14.1
tion
.54 million (Dllion) paid to
tion
D PARTIES
any compriseaff provident een disclosed
Note
16.1
(U
Hal
Decembe31, 2019
‐‐‐‐‐‐‐
31,7
13,2
83,3
12,8
3,8
5,4
400,7
551,0
December 31 Citizen polic
(U
Hal
Decembe31, 2019
‐‐‐‐‐‐‐
38,9
55,9
94,9
e associates,fund. Detaild elsewhere
(U
Hal
Decembe31, 2019
‐‐‐‐‐‐‐
702,6
2,8
627,3
6,3
59,9
1,5
Un‐audited)
f year Ended
er 9
Dec31,
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
721
218
330 1
837
842
417
720
‐
085 1
, 2018 Rs. 7.0ce liaison com
Un‐audited)
f year Ended
er 9
Dec31,
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
‐ 7
952
977
929 7
, directors, ms of transactin these con
Un‐audited)
f year Ended
er 9
Dec31,
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
690 6
879
338 5
383
933
542
d
ember 2018
‐‐‐‐ Rupees in
3,427
‐
112,920
10,381
10,895
4,553
‐
‐
142,176
02 million) pammittee in wh
d
ember 2018
‐‐‐‐ Rupees in
776,344
‐
‐
776,344
major shareions with relndensed inte
d
ember 2018
‐‐‐‐ Rupees in
670,902
2,075
525,805
‐
57,079
7,023
(Un
Quar
December 31, 2019
n '000 ‐‐‐‐‐‐‐‐‐
31,451
13,218
45,830
6,762
3,342
4,359
22,733
5,298
132,993
aid to Indus Hhich directors
(Un
Quar
December 31, 2019
n '000 ‐‐‐‐‐‐‐‐‐
‐
9,454
18,514
27,968
holders of tated parties rim financial
(Un
Quar
December 31, 2019
n '000 ‐‐‐‐‐‐‐‐‐
406,491
1,930
325,499
‐
29,966
1,542
n‐audited)
rter Ended
Decem31, 2
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
1
8
0 7
2
2
9
3
8
3 9
Hospital and s have interes
n‐audited)
rter Ended
Decem31, 2
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
‐ 63
4
4
8 63
the Companyduring the pstatements
n‐audited)
rter Ended
Decem31, 2
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
1 28
0
9 21
‐
6 2
2
mber 2018
‐‐
5,506
‐
70,784
5,489
9,613
3,991
‐
‐
95,382
Rs. Nil sts.
mber 2018
‐‐
30,984
‐
‐
30,984
y, key period, are as
mber 2018
‐‐
83,499
1,099
16,307
‐
28,482
5,815
For the Half year ended December 31, 2019 | 20
16.1
17
18
19
20
21
21.1
21.2
21.3
Transacti
Meeting f
Transacti personne
Remuner
Post‐emp
Transacti
Contribut
1 These fix
FINANCIA
The Compinclude astatemenJune 30, 2
FAIR VAL
There we
OPERATIN
‐ These co
‐ Revenue
‐ All non‐c
‐ Sales m59%) of to
DATE OF
These coDirectors
GENERAL
1 Correspo
2 All figures
3 The Boarshare aminterim ficash divid
Muh
Chie
ion with dire
fee
ion with key el
ation paid
ployment ben
ion with othe
tion to staff p
xed assets so
AL RISK MAN
pany’s activitall financial nts and shou2019. There h
LUE OF ASSET
ere no transfe
NG SEGMENT
ondensed int
e from export
current asset
made by the Cotal sales.
AUTHORISAT
ondensed intof the Comp
L
nding figures
s have been r
d of Directormounting to Rnancial statedend which w
hammad Fah
ef Financial O
ctors
managemen
nefits
er related par
provident fun
ld to a relate
AGEMENT O
ties expose itrisk manageld be read inhave been no
TS AND LIABI
ers amongst l
TS
terim financia
t sales repres
ts of the Com
Company to
TION FOR ISS
erim financiapany.
s have been r
rounded‐off t
rs in its meetRs. 659.40 mements for thwill be accoun
heem
Officer
Decem2
nt
rty
nd
d party carrie
OBJECTIVES A
t to a variety ement informn conjunctiono change in an
LITIES
evel of fair va
al statements
sents 99% (D
mpany as at D
its two majo
SUE
al statement
eclassified /
to the neares
ting held on million (2018:he period endnted for as a s
(Un‐aud
Half year
mber 31, 2019
‐‐‐‐‐‐‐‐‐‐‐
6,120
27,653
1,631
63,483
ed at NBV of
AND POLICIES
of financial rmation and n with the Cony risk manag
alue analysis
s have been p
ecember 31,
ecember 30,
or customers
ts were auth
rearranged w
st thousand r
February 26,: Rs.3 per shded Decembesubsequent e
Rehan Ra
Chief Execu
dited)
r Ended
December2018
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
2,
24,
1,
9,
Rs. 4.79 milli
S
risks. These cdisclosures ompany’s angement polic
of financial a
prepared on t
2018: 99%) o
2019 and 20
s during the
horised for is
wherever nec
rupees, unles
, 2020 has prhare amountier 31, 2019 devent.
ahman
utive Officer
r 31, De
Rupees in '00
,640
,923
,449
,402
on.
condensed intwhich are rnual financiacies since the
assets and lia
the basis of a
of the total g
018 are locate
period const
ssue on Feb
essary for be
s otherwise s
roposed inteing to Rs.1,1do not includ
(Un‐
Quar
ecember 31, 2019
00 ‐‐‐‐‐‐‐‐‐‐‐‐‐
1,920
13,608
816
31,329
terim financirequired in tal statementsyear end.
bilities during
a single repor
ross revenue
ed in Pakistan
tituted 52% (
ruary 26, 20
etter presenta
stated.
rim cash divi130.40 millionde the effect
Hum
D
‐audited)
rter Ended
Decem2
‐‐‐‐‐‐‐‐‐‐‐‐‐‐
0
8
6
9
al statementthe annual s for the yea
g the period.
rtable segmen
e of the Comp
n.
(December 3
020 by the B
ation.
dend @ Rs.n). These coof the above
ma Pasha
irector
mber 31, 018
1,730
9,169
590
4,352
ts do not financial ar ended
nt.
pany.
1, 2018:
Board of
1.75 per ndensed e interim
For the Half year ended December 31, 2019 | 21