Arpak International Investments : Transmission of Quarterly Report for the quarter and nine months period ended

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ARPAK INTERNATIONAL INVESTMENTS LIMITED King'sArcade,20-A,MARKAZF-7,

ISLAMABAD - PAKISTAN

TEL: [phone]

Arpak International Investments

Limited

CONDENSED INTERIM FINANCIAL INFORMATION FOR THE NINE MONTHS PERIOD ENDED

MARCH 31 , 2022 (UN-AUDITED)

ARPAK INTERNATIONAL INVESTMENTS LIMITED

COMPANY INFORMATION

BOARD OF DIRECTORS

Mr. Abbas Sarfaraz Khan Begum Laila Sarfaraz Mr. Aziz Sarfaraz Khan Ms. Najda Sarfaraz Mr. Iskander M. Khan Mr. Usman Salim Khan Mr. Faiysal AliKhanChief Executive Chairperson

AUDIT COMMITTEE

Mr. Usman Salim Khan Mr. Aziz Sarfaraz Khan Mr. Faiysal AliKhan Mr. Mujahid BashirChairman Member Member Secretary

COMPANY SECRETARY

Mr. Mujahid Bashir

CHIEF FINANCIAL OFFICER

Mr. Rizwan Ullah Khan

HEAD OF INTERNAL AUDIT

Mr. Zaheer Mir

AUDITORS

M/s. ShineWing Hameed Chaudhri & Co. Chartered Accountants

LEGAL ADVISOR

Mr. Zahoor AlamAdvocate

SHARE REGISTRAR

M/s. Hameed Majeed Associates (Pvt.) Limited, H.M. House, 7-Bank Square, Lahore Phone No.: 042-37235081 Fax No.: 042-37235083

BANKERS

Bank Al-Habib Limited MCB Bank Limited

REGISTERED OFFICE

King's Arcade, 20-A, Markaz F-7, Islamabad Phone: [phone] Fax: [phone]

ARPAK INTERNATIONAL INVESTMENTS LIMITED

DIRECTOR'S REVIEW REPORT

The Board of Directors of Arpak International Investments Limited takes pleasure in presenting the review on the operational and financial performance of the Company for the nine-month period ended March 31, 2022.

OPERATIONS

During the period under review, the Company suffered pre-tax loss of Rs. 15,327 (March 31, 2021: Rs. 4.728 million) and after incorporating the share of loss and provision made for impairment in investment in an Associated Company, the Company's pre-tax loss has been reflected to Rs. 97.526 million for the period.

INVESTMENTS

The Company has investments of Rs. 43.750 million in an associated Company and Rs. 20.21 million in mutual funds. The management has invested prudently to ensure appropriate returns on available funds.

ACCOUNTING POLICIES

There has been no change in the accounting policies adopted for the preparation of the enclosed quarterly financial statements of the Company.

ON BEHALF OF THE BOARDIslamabad April 27, 2022

(Abbas Sarfaraz Khan)

(Iskander M. Khan)

Chief Executive

Director

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT MARCH 31, 2022

Note

Assets

Non-current Assets Property, plant and equipment Investment property

Long term investments 4

Loan to an Associated Company 5

Current Assets

Short term investment 6 Advance to employees - considered good

Accrued profit and mark-up Prepayments and other receivables

Advance income tax and tax deducted at source Bank balances

Equity and Liabilities Share Capital and Reserves Authorised capital 5,000,000 ordinary shares of Rs.10 each

Issued, subscribed and paid-up capital

Contingencies and Commitments 7

The annexed notes form an integral part of these financial statements.

Un-audited	Audited
March 31,	June 30,
2022	2021
Rupees	Rupees
4,434,588	4,492,186
1,784,029	1,794,653
275,207,730	226,007,730
43,750,000	43,750,000
325,176,347	276,044,569
20,205,994	21,528,835
139,750	399,750
3,304,947	2,523,095
252,170	1,336,394
1,521,724	1,533,699
2,430,193	693,423
27,854,778	28,015,196
353,031,125	304,059,765
50,000,000	50,000,000
4,000,000 ordinary shares of Rs.10 each issued for cash	40,000,000	40,000,000
Reserves	12,840,781	12,840,781
Accumulated loss	(114,528,507)	(45,130,961)
Share of surplus on revaluation of property,
plant and equipment of Associated Companies	408,874,100	291,809,030
347,186,374	299,518,850
Deferred taxation	144,522	147,073
Current Liabilities
Accruals and other payables	3,136,888	1,446,694
Unclaimed dividend	1,039,042	1,039,042
Taxation	1,524,299	1,908,106
5,700,229	4,393,842
353,031,125	304,059,765

ARPAK INTERNATIONAL INVESTMENTS LIMITED

CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UN-AUDITED) FOR THE QUARTER AND NINE MONTHS PERIOD ENDED MARCH 31, 2022

Quarter Ended

Nine Months Ended

March 31 2022

March 31 2021

March 31 2022

March 31 2021

----------------------------------Rupees------------------------------------Income

3,945,380

3,133,420

10,844,246

9,478,944

Operating and General Expenses

(3,215,094)

(4,062,713)

(10,854,553) (14,197,333)

Operating profit/(loss)

730,286

(929,293)

(10,307) (4,718,389)

Bank Charges

(1,437)

(4,051)

(5,020)

(9,702)

728,849

(933,344)

(15,327) (4,728,091)

Share of (loss)/profit of Associated Companies --net of taxation

(6,102,293)

(6,500,053)

(7,605,760) 26,726,188

Reversal/ (provision made) for impairment in investment in an Associated Company

Profit/(loss)- before taxation

20,122,190 14,748,746

(18,343,308)

(89,905,257) (148,674,720)

(25,776,705)

(97,526,344) (126,676,623)

Taxation

(539,417)

(387,827)

(1,517,149) (1,116,337)

Profit/(loss)- after taxation

14,209,329

(26,164,532)

(99,043,493) (127,792,960)

Earnings/(loss) per share- basic and diluted

3.55

(6.54)

(24.76)

(31.95)The annexed notes form an integral part of this condensed interim financial information.

CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE QUARTER AND NINE MONTHS PERIOD ENDED MARCH 31, 2022

Quarter Ended

Nine Months Ended

March 31 2022

March 31 2021

March 31 2022

March 31 2021

----------------------------------Rupees------------------------------------Profit/(loss) after taxation Other Comprehensive Income

14,209,329

(26,164,532)

(99,043,493)

(127,792,960)

Items that may be reclassified subsequently to profit and loss:

Share of other comprehensive income from Associated Company - net Share of surplus arisen on revaluation of property, plant and equipment carried out by an Associated Company

(4,230,293)

15,994,880

135,802,884

67,460,375

Total Comprehensive income/(loss)

9,979,036

(10,169,652)

36,759,391

(60,332,585)The annexed notes form an integral part of this condensed interim financial information.

788,267 (5,018,560)

15,994,880 0

1,009,280 134,793,604

67,460,375 0

ARPAK INTERNATIONAL INVESTMENTS LIMITED

CONDENSED INTERIM STATEMENT OF CASH FLOWS (UN-AUDITED)

FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2022

March 31	March 31
2022	2021
Rupees	Rupees
Cash flow from operating activities
Loss for the period - before taxation and
share of (loss)/ profit of Associated Companies	(15,327)	(4,728,091)
Adjustments for non-cash charges and other items:
Depreciation on property, plant and equipment	57,597	68,949
Depreciation on investment property	10,624	11,183
Mark-up on loan to an Associated Company	(3,281,852)	(2,844,614)
Dividend Income	(1,245,479)	(1,269,144)
Gain on redemption of short term investments - net	(30,741)	(21,022)
Fair value profit/(loss) on re-measurement of short term investment	(87,758)	(18,837)
Loss before working capital changes	(4,592,936)	(8,801,576)
Effect on cash flow due to working capital changes
(Increase) / decrease in current assets
Advance to employees - considered good	260,000	95,004
Prepayments and other receivables	1,084,224	2,168,479
Increase / (decrease) in current Liabilities
Accruals and other payables	1,690,194	1,250,769
Unclaimed dividend	0	(56,801)
3,034,418	3,457,451
Cash used in operating activities	(1,558,518)	(5,344,126)
Income tax paid	(1,891,531)	(2,628,360)
Net cash used in operating activities	(3,450,049)	(7,972,486)
Cash flow from investing activities
Mark-up received on loan to an Associated Company	2,500,000	2,000,000
Redemption of short term investment	1,441,340	6,921,227
Dividend received	1,245,479	1,269,144
Net cash generated from investing activities	5,186,819	10,190,371
Net increase / (decrease) in cash and cash equivalents	1,736,770	2,217,885
Cash and cash equivalents - at beginning of the period	693,423	799,449
Cash and cash equivalents - at end of the period	2,430,193	3,017,334

The annexed notes form an integral part of this condensed interim financial information.

STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)

FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2022

------------------------------------- R u p e e s --------------------------------------

Effect of items directly credited to equity by an Associated Company Share of surplus on revaluation of property, plant and equipment realised during the year by an Associated Company on account of incremental depreciation and upon sale of revalued assets (net of deferred taxation)

Balance as at July 01, 2021

40,000,000

7,440,781

5,400,000

(45,130,961)

291,809,030 299,518,850

Total comprehensive income for the nine months ended March 31, 2022

Loss for the period

Other comprehensive income

- - -- - -- - -

(99,043,493)

1,009,280

134,793,604

(98,034,213)

134,793,604 36,759,391

Effects of items directly credited in equity by Associated Companies

-

-

-

10,908,133 10,908,133

Share of surplus on revaluation of property, plant and equipment realised during the year by an Associated Company on account of incremental depreciation and upon sale of revalued assets - (net of deferred taxation)

-

-

-17,728,534

(17,728,534)

-

Balance as at March 31, 2022

40,000,000

7,440,781

5,400,000

(114,528,507)

408,874,100

347,186,374

The annexed notes form an integral part of this condensed interim financial information.

Balance as at March 31, 2021