Bunny : Ransmission of Quarterly Report for the Period Ended

VISION AND MISSION STATEMENT

VISION

Make quality food for better life.

MISSION

Product innovation with optimal quality, taste and nutrition. To create value, inspire moments and deliver wellness.

COMPANY PROFILE

Board of Directors	Mrs. Saadia Omar	Chairperson
	Mr. Omar Shafiq Chaudhry	Chief Executive
	Miss Mahnoor Chaudhry	Director
	Miss Mahnan Omar	Director
	Miss Maya Omar	Director
	Mr. Rafi Uz Zaman Awan	Director
	Mr. Moazzam Iftikhar Ahmed	Director
Audit Committee	Mr. Rafi Uz Zaman Awan	Chairman
	Miss Mahnoor Chaudhry	Member
	Mrs. Saadia Omer	Member
Chief Financial Officer	Mr. Muhammad Shafique
Company Secretary	Mr. Muhammad Zubair
Auditors	Aslam Malik & Co. Chartered Accountants
Bankers	Samba Bank Limited
	Bank Al Habib Limited
	Meezan Bank Limited
	PAIR Investment Bank Limited
	First Women Bank Limited
	Pak Libya Investment Company (Pvt.) Limited
Share Registrar	F.D. Registrar Services (SMC-Pvt.) Limited
	17th Floor, Saima Trade Tower-A, I.I. Chundrigar Road, Karachi-74000
	Ph# 9921-35478192-93, Dir# 9221-32271905-6, Fax# [phone]
Legal Advisor	Moazzam Ali Shah Associates
Head Office	105/A, Quaid-e-Azam Industrial Estate, Kot Lakhpat, Lahore
Email	[e-mail]
Website	www.bunnys.com.pk

DIRECTORS' REPORT

In the name of Allah the Most Merciful and the Most Benevolent.

On behalf of the Board of Directors of Bunny's Limited, we are pleased to present the Directors' Review Report for the 2nd quarter ended December 31, 2022.

Overview

We are pleased to report that during the quarter under review, revenue of your company has been increased by 26.19% in comparison to the same quarter of previous year. This condensed interim financial information is presented in accordance with the requirements of Companies Act, 2017. The financial results during the quarter under review are as follows:

		Rs. (Million)
	QUARTER ENDED
	December 31, 2022	December 31, 2021
Sales - net	1,359.18	1,077.06
Gross profit	346.08	231.92
Operating profit	117.02	27.75
Profit after tax	37.60	23.00
Earnings per share (Rs.)	0.56	0.34

All production / cost factors remain unstable in line with country's economy. Management hopes that all such factors can be absorbed by adjusting output prices. During the quarter under review, gross margin and net margin have improved from 21.53% and 2.13% to 25.46% and 2.77% respectively. On the other hand management has always adopted a proactive approach and is making its operations and processes more efficient to remain competitive in the market.

Expansion and Modernization Projects

To ensure its role as one of the industry leader, your Company is in a continuous process to update its plant and equipment with latest technology. This ensures sustainability of Company's operations in the most efficient and cost effective manner.

Fully automated new bun and burger line has been installed and commercial production has been started.

Credit ratings

The long-term entity rating of the Company is A- and short-term entity rating have been maintained at A-2 by VIS Credit Rating Company Limited (VIS). These ratings denote a very low expectation of credit risk emanating from a very strong capacity for timely payment of financial commitments.

Contingencies and Commitments

There has been no major changes in commitments affecting financial position of the Company's affairs between the balance sheet date and the date of this report.

Acknowledgments

We thank our various stakeholders including the shareholders, bankers and others in the faith entrusted in the Company that helped significant growth over last year. We look forward to this unwavering support and confidence from these stakeholders to help the Company grow further and expand its product portfolio.

We would also like to thank the Pakistan Stock Exchange Limited, the Securities & Exchange Commission of Pakistan and the Central Depository Company of Pakistan Limited for their continued support and cooperation towards the Company. We hope that this support would continue in the future.

We also acknowledge the efforts of our dedicated and talented human resource for the hard work they put in to help realize the outstanding operational growth. We expect continued efforts from our employees to attain higher goals going forward.

The Board also wishes to place on record its gratitude for the co-operation extended by Government of Pakistan and strategic partners including its customers and suppliers.

For and on behalf of the Board of Directors

Director

Lahore

February 28, 2023

BUNNY'S LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UNAUDITED)

AS AT DECEMBER 31, 2022

				Audited
Note	December 31, 2022			June 30, 2022
-------------- Rupees
	--------------
ASSETS
Non-current assets

Property, plant and equipment	4
Intangible assets	5
Long term security deposits
Current assets
Stores, spares and loose tools
Stock-in-trade	6
Trade debts - unsecured
Advances, deposits and prepayments
Cash and bank balances	7
Total assets
EQUITY AND LIABILITIES
Capital and reserves
Authorized share capital
100,000,000 Ordinary shares of Rs.10/- each .
Issued, subscribed and paid up share capital	8
Capital reserves	9
Un-appropriated profits
Non-current liabilities
Long term finances - secured	10
Lease liabilities	11
Long term advances - unsecured
Deferred liabilities	12
Current liabilities
Trade and other payables	13
Contract liability
Unclaimed dividend
Accrued mark-up on secured loans
Short term borrowings	14
Current portion of long term finances and leases - secured
Provision for taxation - net
Contingencies and commitments	15
Total equity and liabilities

2,588,816,513

70,220,574

10,740,538

2,669,777,626

6,339,503

573,641,651

409,274,208

298,362,679

3,610,215

1,291,228,255

3,961,005,881

1,000,000,000

668,052,700

49,713,670

1,260,942,777

1,978,709,147

400,113,319

63,124,924

9,568,923

271,600,938

744,408,104

511,139,583

10,484,348

765,699

34,140,641

434,461,230

190,456,799

56,440,330

1,237,888,630

3,961,005,881

2,576,957,305

70,225,828

9,065,538

2,656,248,671

14,352,153

489,166,590

411,896,648

225,228,001

1,445,986

1,142,089,378

3,798,338,049

1,000,000,000

668,052,700

49,713,670

1,186,116,953

1,903,883,323

439,123,726

59,294,227

9,630,423

263,460,660

771,509,036

400,265,368

19,159,960

765,699

29,893,478

385,486,283

234,281,970

53,092,932

1,122,945,690

3,798,338,049

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

Chief Executive

Director

Chief Financial Officer