COferoze1888.com/wp-content/uploads/2020/03/Half-Yearly-Report-Dec-2019.pdf · 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

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

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nkers

nk Al Habib L

ysal Bank Lim

bib Bank Lim

bib Metropo

eezan Bank L

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nk Alfalah Limied Bank Lim

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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,

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Survey # 81, 181,

186 to 190, N

Tapo Gabopa

Balochistan

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HITE, all in M

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TE, Karachi.

ITE, Karachi.

SITE, Karachi

SITE, Karach

SITE, Karach

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DIR

The

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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


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


CY20 BPS CY20

CAD

ADB CAD CY19 CY18

CY20 Securities

-

Zero rated status -




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


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


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


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


CondFor t

CASH

Prof

Adju

Dep‐ O‐ R

AmoWritFina

‐ L‐ O

DefeInteDividLoss

(Incr

StorStocTradAdva

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FinaIncoDefeLong

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Net

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DividLeasShorLong

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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


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


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


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


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


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


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


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

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25

71

9

7

1

8

0

7

7

3

1

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4

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) (4,0

8 3,

staff provide

mber 31, 018

903,363

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,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


14

14.

15

16

OTHER

Loss onasset ‐

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Worke

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OTHER

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Interes

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TRANS

Relatedmanagother tfollows

Nature

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Donati

R EXPENSES

n disposal of net

rty, plant andff ers' profit par

ers' welfare fu

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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

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ticipation fun

und

ation

es on realizates

p accrued

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ITH RELATED

f the Compaonnel and stawhich have b

ion

associates

set

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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


776,344

‐

‐

776,344

major shareions with relndensed inte

d

ember 2018


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


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

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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


Documents

COferoze1888.com/wp-content/uploads/2020/03/Half-Yearly-Report-Dec-2019.pdf · 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