Nimir Resins : Financial Results for the Year Eneded June 30, 2023

Our reference: 1156-NRL-PSX-09-2023
	ANNOUNCEMENT
September 23, 2023	FORM - 7
The Managing Director
Pakistan Stock Exchange Limited.
Stock Exchange Building,
Stock Exchange Road, Karachi -74000.
Tel : [phone]

Subject: Financial Results For The Year Ended June 30, 2023

Dear Sir,

This is to inform you that, the Board of Directors of Nimir Resins Limited (the "Company") in its meeting held on Saturday, September 23, 2023 at 12:00 noon at its Head Office 122-B, New Muslim Town, Lahore has recommended the following:

I.

Cash Dividend : NIL

II. Bonus Shares : NIL

III. Right Shares : NIL

Audited Financial Statements of the Company for the year ended June 30, 2023 have been considered by the Board of Directors as recommended by the Audit Committee and the same have been approved. Financial results are attached (Annexure-1).

The 59th Annual General Meeting (AGM) of the Company will be held on Friday, October 27, 2023 in Lahore at 10:30 a.m.

The share transfer books of the Company shall remain closed from October 21, 2023 to October 27, 2023 (both days inclusive). Physical shares transfers received at the Company's Share Registrar M/s Corplink (Pvt.) Limited, Wings Arcade, 1-K, Commercial, Model Town, Lahore, Ph: 042 35916714 and 35916719, office at the close of business on Friday, October 20, 2023 will be treated in time for the purpose of determining the entitlements to attend and vote at the AGM.

The Annual Report of the Company will be transmitted through PUCARS at least 21 days before the Annual General Meeting and will also be available at the Company's website at www.nimir.com.pk.

Yours faithfully,

For Nimir Resins Limited

Muhammad Inam-ur-Rahim

Company Secretary

Encl: Financial Results - June 30, 2023 (Annexure-1)

Annexure-1

Nimir Resins Limited

Financial Results For The Year Ended June 30, 2023 (Audited)

Items		Note				2023		2022
						Rupees		Rupees
Revenue from sales					11,063,212,014		9,753,005,547
Less:
- Sales tax					(1,692,304,372)		(1,480,397,448)
- Commission					-		(1,227,587)
Net sales	27			9,370,907,642		8,271,380,512
Cost of sales	28			(8,163,332,358)		(7,196,560,150)
Gross Profit					1,207,575,284		1,074,820,362
Distribution cost	29			(116,487,929)		(88,839,071)
Administrative expenses	30			(98,702,434)		(80,390,304)
					(215,190,363)		(169,229,375)
Operating Profit					992,384,921		905,590,987
Other operating expenses	31			(72,386,150)		(111,761,517)
Finance cost	32			(376,236,589)		(213,766,135)
Other income	33			32,145,686		21,849,163
Profit before Taxation					575,907,868		601,912,498
Income tax expense	34
Current tax					(145,172,235)		(183,552,971)
Super tax					(63,374,070)		(62,015,682)
Deferred tax					18,513,293		10,527,287
					(190,033,012)		(235,041,366)
Net Profit for the Year
				385,874,856		366,871,132
Earnings per Share - Basic and Diluted	35			2.73		2.60

For Nimir Resins Limited

Muhammad Inam-ur-Rahim

Company Secretary