DEWAN SALMAN FIBRE LIMITED DEWAN SALMAN FIBRE LIMITED
Third Quarter Report 31st March 2023
CONTENTS | |
Company Information | 3 |
Directors' Review | 4 |
Condensed Interm Statement of Financial Position | 6 |
Condensed Interim Statement of Profit and Loss | 7 |
Condensed Interim Statement of Cash Flow | 8 |
Condensed Interim Statement of Comprehensive Income | 9 |
Condensed Interim Statement of Changes in Equity | 10 |
Notes to the Condensed Interim Financial Statement | 11 |
ہ�� � ز��اڈ | 13 |
DEWAN SALMAN FIBRE LIMITED
COMPANY INFORMATION
BOARD OF DIRECTORS | |||
NON-EXCUTIVE DIRECTORS | : | MR. MUHAMMAD IRFAN ALI | CHAIRMAN BOARD OF DIRECTORS |
SYED FARHAN ASDAQUE | |||
MR. MUHAMMAD WAJID | |||
EXECUTIVE DIRECTORS | : | MR. ISHTIAQ AHMAD | CHIEF EXECUTIVE OFFICER |
MR. SALEEM-UL-HAQUE | |||
MS. MOMNA GULL | |||
INDEPENDENT DIRECTOR | : | MR. ASGHAR IQBAL | |
AUDIT COMMITTEE | : | MR. ASGHAR IQBAL | CHAIRMAN |
MR. MUHAMMAD WAJID | MEMBER | ||
MR. MUHAMMAD IRFAN ALI | MEMBER | ||
HUMAN RESOURCE & | : | MR. ASGHAR IQBAL | CHAIRMAN |
REMUNERATION COMMITTEE | MR. ISHTIAQ AHMAD | MEMBER | |
MR. MUHAMMAD WAJID | MEMBER | ||
CHIEF FINANCIAL OFFICER | : | MR. SALEEM-UL-HAQUE | |
COMPANY SECRETARY | : | MR. MUHAMMAD HANIF GERMAN | |
AUDITORS | : | FARUQ ALI & CO. | |
CHARTERED ACCOUNTANTS | |||
: | FEROZE SHARIF TARIQ & CO. | ||
CHARTERED ACCOUNTANTS | |||
LEGAL ADVISOR | : | KHALID ANWAR & COMPANY - ADVOCATES | |
TAX ADVISORS | : | SHARIF & COMPANY - ADVOCATES | |
FACTORY OFFICE | : | PLOT NO. 1, DEWAN FAROOQUE INDUSTRIAL | |
PARK, HATTAR, DISTRICT HARIPUR, K.P. | |||
CORPORATE OFFICE | : | DEWAN CENTRE, 3-A, LALAZAR, BEACH | |
HOTEL ROAD, KARACHI. | |||
REGISTERED OFFICE | : | PLOT NO. 6, STREET NO. 9, FAYYAZ MARKET, | |
G-8/2, ISLAMABAD, PAKISTAN. | |||
SHARE REGISTRAR / | : | BMF CONSULTANTS PAKISTAN (PRIVATE) LIMITED | |
TRANSFER AGENTS | ANUM ESTATE BUILDING, ROOM NO. 310 & 311, | ||
3RD FLOOR, 49, DARUL AMAN SOCIETY, MAIN SHAHRAH-E-FAISAL, | |||
ADJACENT TO BALOCH COLONY BRIDGE, KARACHI, PAKISTAN. | |||
BANKERS | : | AL BARAKA ISLAMIC INVESTMENT BANK LIMITED | |
ALLIED BANK LIMITED | |||
ASKARI BANK LIMITED | |||
BANK ALFALAH LIMITED | |||
BANK OF KHYBER LIMITED | |||
BANK OF PUNJAB LIMITED | |||
FAYSAL BANK LIMITED | |||
HABIB BANK LIMITED | |||
HABIB METROPOLITAN BANK LIMITED | |||
MEEZAN BANK LIMITED | |||
SUMMIT BANK LIMITED | |||
NATIONAL BANK OF PAKISTAN LIMITED | |||
STANDARD CHARTERED BANK LIMITED (PAKISTAN) | |||
SILK BANK LIMITED | |||
UNITED BANK LIMITED |
THIRD QUARTER REPORT 2023 03
DIRECTORS' REVIEW
The Board of Directors of your company present un-audited Condensed Interim Financial Statements of the Company for the nine months ended on March 31, 2023.
FINANCIAL PERFORMANCE OPERATING AND FINANCIAL RESULTS AT A GLANCE
SALES (NET) | (Rupees In'000') | |
(Nil) | ||
COST OF SALES | 334,733 | |
GROSS LOSS | (334,733) | |
OPERATING EXPENSES | 31,310 | |
OPERATING LOSS | (366,043) | |
FINANCE COST | (1,606,184) | |
LOSS BEFORE TAXATION | (1,972,227) | |
TAXATION | 50,841 | |
LOSS AFTER TAXATION | (1,921,386) | |
Company recorded net sales of Rs. Nil (2022-Rs.Nil) during the period under review suffered gross loss of Rs. 334.733 million (2022 Rs. 384.640 million) and loss after taxation amounted to Rs. 1,921.386 million (2022 Rs. 839.183 million).
INDUSTRY OVERVIEW
Pakistan entered 2023 with multiple internal and external challenges including energy affordability & availability, current account deficit, shortage of raw materials.
Textile exports during the period under review, remained low as compared to the corresponding year. Withdrawal of subsidy on power tariff from March 01, 2023 would further raise the cost of production, which could also impact the export sector.
Domestic PSF prices, during the period under review, maintained upward trajectory. There was improvement in the sales volume of local PSF manufacturers, as compared to the last quarter.
Your company operations remained closed during the period under review.
ACKNOWLEDGEMENT
The Board expresses the hope that it's valued shareholders, Federal and Provincial Government functionaries, banks, financial institutions and customers of Salsabil, shall continue to extend their cooperation, support and patronage as in the past.
The Board also expresses its appreciation for the valuable services, loyalty and laudable efforts continuously rendered by the executives, staff members and workers of the company and recognize that they are most valuable assets of the Company.
04 THIRD QUARTER REPORT 2023
DEWAN SALMAN FIBRE LIMITED
CONCLUSION
In conclusion, we bow, beg and pray to Almighty Allah, Rahman-o-Raheem, in the name of our beloved prophet. Muhammad (Peace Be Upon Him), for continued showering of His blessings, Guidance, Strength, Health and Prosperity on our Nation, Country and also pray to Almighty Allah to bestow peace, harmony, brotherhood and unity in true Islamic spirit to the whole of Muslim Ummah, Aameen, Summa Aameen.
Ishtiaq Ahmed | Muhammad Irfan Ali |
Chief Executive Officer | Chairman Board of Director |
THIRD QUARTER REPORT 2023 05
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Dewan Salman Fibre Ltd. published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 05:06:31 UTC.
