D S Industries : Transmission of Quarterly Report for the Period Ended Septemebr 30, 2022

1st Quarter Accounts

for the Period Ended

September 30, 2022

CONTENTS

Company Information	2
Directors' Report	3
Condensed Interim Statement of Financial Position	4
Condensed Interim Statement of Profit or Loss	5
Condensed Interim Statement of Comprehensive Income	6
Condensed Interim Statement of Cash Flows	7
Condensed Interim Statement of Changes in Equity	8
Selected Notes to the Condensed Interim Un-audited Financial Statements	9

1st Quarter Accounts September 30, 2022

Company Information

Board of Directors	Mr. Ali Pervez Ahmed	Chief Executive
	Mrs. Rehana Pervez Ahmed
	Mr. Hassan Ibrahim Ahmed
	Mr. Suleman Ahmed
	Mrs. Rukhsana Khalid
	Mr. M. Naeem Ilyas
	Mr. Haider Ali
Audit Committee	Mr. M. Naeem Ilyas	Chairman
	Mr. Haider Ali
	Mrs. Rukhsana Khalid
HR & Remuneration Committee	Mrs. Rehana Pervez Ahmed	Chairperson
	Mrs. Rukhsana Khalid
	Mr. M. Naeem Ilyas
Chief Financial Officer	Mr. Muhammad Naeem Akhtar
Company Secretary	Mr. Salman Farooq
Auditors	M/s Rahman Sarfaraz Rahim Iqbal Rafiq
	Chartered Accountants
Legal Advisor	Cornelius, Lane & Mufti
	Advocates & Solicitors
Banks	Al Baraka Bank (Pakistan) Limited
	MCB Bank Limited
	Silk Bank Limited
	Meezan Bank Limited
	Bank Al-Falah Limited
	Bank Al-Habib Limited
	Dubai Islamic Bank Limited
Registered Office	20-K, Gulberg II, Lahore.
Share Registrars	THK Associates (Pvt.) Limited
	32-C, Jami Commercial, Street 2,
	DHA Phase VII,
	Karachi - 75500
Website	www.dsil.com.pk

02 D.S. INDUSTRIES LIMITED

1st Quarter Accounts September 30, 2022

DIRECTORS' REPORT

The Board of Directors of D S Industries Limited is pleased to present the Company's un-audited financial statements for the first quarter ended September 30, 2022.

Financial Results of the Company

The Company reported net sales of Rs. 736,607 and a gross loss of Rs. 39,232 during the quarter under review as opposed to net sales of Rs. 12,111,741 and a gross loss of Rs. 4,563,620 in the same quarter the previous year. In the same quarter of the previous year, there was a net loss after taxes of Rs. 13,288,285 as opposed to a net profit after taxes of Rs. 827,023 this quarter. In comparison to the same period last year, when there was a loss per share of Rs. (0.16), the earning per share for the three months ended September 30, 2022, was recorded at Rs. 0.01. The Company succeeded in reducing both direct and indirect business costs during the quarter that ended on September 30, 2022, which led to a good closing of the bottom line. The management is also certain that there will be a notable increase in topline in the upcoming term, which will also have an effect on bottom line as well.

Future Outlook

Local businesses are experiencing instability and uncertainty due to unfavourable economic conditions like growing inflation and high energy costs. If the inflation rate is not brought under control, it could cause the country's economic growth to slow down and have a significant negative impact on economic activity. Additionally, now is the moment for policymakers to adopt a long-term perspective so that businesses may plan for the future.

Acknowledgement

The Board is thankful to its valued shareholders for their confidence in the Company, its customers, the Securities & Exchange Commission of Pakistan and to the management of Pakistan Stock Exchange Limited for their valuable support, assistance and guidance. The Board also appreciates the employees of the Company for their dedication and hard work.

	For & on behalf of the Board
Lahore	Suleman Ahmed	Ali Pervez Ahmed
October 27, 2022	Director	Chief Executive

03 D.S. INDUSTRIES LIMITED

1st Quarter Accounts September 30, 2022

D.S. INDUSTRIES LIMITED

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION

AS AT SEPTEMBER 30, 2022

	Note	Sep. 30,2022		June 30,2022
			(Un-Audited)		(Audited)
EQUITY AND LIABILITIES			Rupees		Rupees
SHARE CAPITAL AND RESERVES
Authorized Capital
100,000,000 (2022:100,000,000) ordinary shares of Rs. 10 each			1,000,000,000		1,000,000,000
Issued, subscribed and paid up capital			836,856,310	836,856,310
Discount on issue of shares			(82,899,709)	(82,899,709)
Surplus on revaluation of property, plant and equipment			17,340,002	17,340,002
Accumulated losses			(568,795,940)		(569,622,963)
Non Current Liabilities			202,500,663	201,673,640
Employees retirement benefits			510,491	592,891
Current Liabilities
Trade and other payables			70,810,065		79,913,374
Unclaimed dividend			337,563		337,563
Short term borrowings			58,373,403		73,317,989
Provision for taxation			212,810		199,260
			129,733,841	153,768,186
Contingencies and Commitments	4		-	-
			332,744,995		356,034,717
ASSETS
Non-Current Assets
Property, plant & equipments	5		21,653,340		21,793,292
Long term investments			69,572,215		69,784,205
Deferred taxation			93,101,083		93,101,083
Long term deposits			4,485,239		4,485,239
			188,811,877	189,163,819
Current Assets
Stores, spares & loose tools			345,746		361,346
Stock in trade			4,609,594		2,867,199
Advances, prepayments & other receivables			31,292,762		31,092,279
Advance income tax			2,505,694		2,168,920
Bank balances			105,179,322		130,381,154
			143,933,118	166,870,898
			332,744,995		356,034,717
The annexed notes form an integral part of these condensed financial statements

DIRECTOR

CHIEF FINANCIAL OFFICER

Chief Executive

04 D.S. INDUSTRIES LIMITED