SARDAR CHEMICAL INDUSTRIES LIMITED
COMPANY INFORMATION | |
CHIEF EXECUTIVE | Sardar Mahmood Sadiq |
DIRECTORS | Mr. Shahid Aziz (NIT Nominee) |
Mr. Niaz Ahmed Chughtai | |
Mr. Fayyaz Ahmed Khan | |
Mr. Aitzaz Ahmad Tarar | |
Mrs. Tayybah Mahmood Sadiq | |
Mrs. Reema Ayaz | |
Audit Committee | Mr. Aitzaz Ahmad Tarar |
Mrs. Tayybah Mahmood Sadiq | |
Mr. Fayyaz Ahmed Khan | |
COMPANY SECRETARY | Mr. Niaz Ahmed Chughtai |
AUDITORS | Aslam Malik & Co.,Chartered Accountants |
HR & REMUNERATION | Mr. Aitzaz Ahmad Tarar |
Mrs. Tayybah Mahmood Sadiq | |
Mr. Fayyaz Ahmed Khan | |
BANKERS | Allied Bank of Pakistan Ltd. |
Askari Commercial Bank Ltd. | |
LEGAL ADVISORS | Mr. Javaid Iqbal Malik, Advocate |
HEAD OFFICE/SHARE DEPARTMENT 2-A, 2nd Floor, Canal Bank Road, Justice Sardar Iqbal Road, Aziz Avenue, Gulberg, Lahore.
Ph: (92-42) 35711154, 35710148, 35753402
Fax: (92-42) 35775706
E-Mail:info@sardarchemicals.com
Website: www.sardarchemicals.com | |
REGISTERED OFFICE/ FACTORY | Plot. No. 29-B, Road No. 01, |
Gadoon Amazai, Industrial Estate,Topi, | |
Ganduf Road, Swabi (KPK) | |
Ph: (0938) 270792, 270439, 270539 | |
Fax: (0938) 270791 | |
REGISTRAR/TRANSFERAGENT | Corplink (Pvt.) Ltd, Wings Arcade,1-K, |
Commercial, Model Town, Lahore. | |
Ph: 042-35916714,35916719 Fax: 042-35839182 |
SARDAR CHEMICAL INDUSTRIES LIMITED
DIRECTORS' REPORT TO THE SHAREHOLDERS
In the name of Allah, the most gracious, the most merciful.
The Board of Directors of SARDAR CHEMICAL INDUSTRIES LIMITED are pleased to present their report on the statement of accounts of the Company for the half year ended on December 31, 2022 along with un-audited financial statements, subject to limited review of the Auditors of the Company.
RESULTS FOR THE HALF YEAR ARE SUMMARIZED AS UNDER:
2022 | 2021 | |
(Rupees in thousands) | ||
Sales-Net | 154,552 | 194,226 |
Cost & Expenditures | 151,593 | 169,842 |
Profit/ (Loss) before taxation | 2,959 | 24,384 |
Profit/ (Loss) after taxation | (75) | 17,231 |
Earnings/ (Loss) per share (Rs.) | (0.01) | 2.87 |
The net Sales decreased by about 20% as compared to the previous half year results ended on 31- 12-2021. Due to fluctuation in the foreign exchange rate, the market almost stopped accepting the increase in prices.
During the period the consumer sales continued to remain slow mainly due to unprecedented price hike and fluctuation in foreign exchange rate. Recovery of dues were hampered causing liquidity crunch.
Despite of the above challenging environments your Company was able to achieve net sales of Rs. 155 million during the half year ended 31-12-2022.
On the other hand, production cost has tremendously increased due to regular increase in utilities, fuel and transportation charges which hampered the profitability and sales of the Company.
FUTURE PROSPECTS
The Global Energy and Commodities prices, availability situation and consequential adverse Balance of Trade and Forex reserves' situation of Pakistan, may keep the outlook somewhat uncertain. However, local markets' business is expected to improve the overall business development of the Country from the new year.
The Company will continue to focus on quality products meeting with the international standards along with supply of products well in time to our valued customers' business place and remedial measures to keep control on cost of our products to get our share from the market.
ACKNOWLEDGMENT
We take opportunity to thank our valued business customers for their continued support, trust and assistance for the progress and prosperity of the Company. The Company also appreciates its staff and workers for their continuous dedication, commitment and support.
For and on behalf of the Board
Dated: February 23rd, 2023 | SARDAR MAHMOOD SADIQ | FAYYAZ AHMED KHAN |
Place: Gadoon Amazai | Chief Executive | Director |
SARDAR CHEMICAL INDUSTRIES LIMITED | SARDAR CHEMICAL INDUSTRIES LIMITED |
SARDAR CHEMICAL INDUSTRIES LIMITED
INTERIM CONDENSED BALANCE SHEET (UN-AUDITED)
SARDAR CHEMICAL INDUSTRIES LIMITED
AS AT DECEMBER 31, 2022
(Un-audited) | (Audited) | ||
Dec 31, 2022 | June 30, 2022 | ||
Rupees | Rupees | ||
CAPITAL AND LIABILITIES | |||
SHARE CAPITAL AND RESERVES | |||
Authorised: | |||
10,000,000 (2021: 10,000,000) Ordinary | |||
Shares of Rs. 10/- each. | 100,000,000 | 100,000,000 | |
Issued, Subscribed and Paid-up: | |||
6,000,000 (2021: 6,000,000) Ordinary | |||
shares of Rs.10/-each fully paid in cash | 60,000,000 | 60,000,000 | |
Share premium | 30,000,000 | 30,000,000 | |
Un-appropriated Profit | 137,428,762 | 137,503,886 | |
NON-CURRENT LIABILITIES | 227,428,762 | 227,503,886 | |
Obligation under finance lease | 14,255,137 | 14,413,905 |
CURRENT LIABILITIES
ASSETS
NON-CURRENT ASSETS
Property: Plant and Equipment
Deferred taxation
Long term deposit
CURRENT ASSETS
Stores, spares & loose tools Stock in trade
Trade debts
(Un-audited)
Dec 31, 2022
Rupees
32,563,057
845,620
5,863,430
39,272,107
670,778
104,474,866
127,974,230
(Audited)
June 30, 2022
Rupees
35,245,588
1,171,795
5,863,430
42,280,813
687,048
93,994,777
140,895,363
Current maturity of long term obligation
Short term finance Markup Accrued
Creditors, accrued and other liabilities Unclaimed Dividend
2,425,247
46,000,000
2,971,386
27,164,566
2,310,219
80,871,418
4,482,109
46,000,000
--
23,041,585
2,310,220
75,833,914
Advances, deposits, prepayments & other receivables
Taxation-net
Cash & bank balances
1,925,476
23,478,105
24,759,754
283,283,209
1,600,002
17,040,305
21,253,397
275,470,892
322,555,317
317,751,705
322,555,317
317,751,705
The annexed notes form an integral part of these financial statements.
Chief Executive
Chief Financial Officer | Director |
SARDAR CHEMICAL INDUSTRIES LIMITED
INTERIM CONDENSED PROFIT OR LOSS ACCOUNT FOR THE HALF-YEARENDED DECEMBER 31, 2022 (UN-AUDITED)
Half Year Ended | Quarter Ended | ||||||
31 Dec. | 31 Dec. | 31 Dec. | 31 Dec. | ||||
2022 | 2021 | 2022 | 2021 | ||||
Rupees | Rupees | Rupees | Rupees | ||||
Sales | 154,552,387 | 194,226,262 | 88,988,956 | 119,289,630 | |||
Cost of Sales | (115,308,525) | (143,003,105) | (62,944,695) | (90,791,181) | |||
Gross Profit | 39,243,862 | 51,223,157 | 26,044,261 | 28,498,449 |
OPERATING EXPENSES
SARDAR CHEMICAL INDUSTRIES LIMITED
INTERIM CONDENSED STATEMENT OF COMPREHENSIVE INCOME
FOR THE HALF-YEAR ENDED DECEMBER 31, 2022
(UN-AUDITED)
Half Year Ended | ,Quarter Ended | ||||||
31 Dec. | 31 Dec. | 31 Dec. | 31 Dec. | ||||
2022 | 2021 | 2022 | 2021 | ||||
Rupees | Rupees | Rupees | Rupees | ||||
Profit/ (Loss) after | (75,124) | 17,231,338 | 2,287,195 | 7,224,299 | |||
Taxation | |||||||
Other Comprehensive | -- | -- | -- | -- | |||
Profit | |||||||
Total Comprehensive | (75,124) | 17,231,338 | 2,287,195 | 7,224,299 |
Administrative and General Selling and distribution
Operating Profit/(Loss) for The period
Other Operating Income Other Operating Expenses
Finance Cost
Profit/ (Loss) before taxation Taxation
Profit/ (Loss) for the period
Earnings per share
(23,912,379)
(7,765,316)
(31,677,695)
7,566,167
163,200
(2,094)
(4,768,165)
2,959,108
(3,034,232)
(75,124)
(0.01)
(21,298,320)
(4,990,433)
(26,288,753)
24,934,405
294,526
(19,511)
(825,184)
24,384,235
(7,152,897)
17,231,338
2.87
(12,945,568)
(4,521,686)
(17,467,254)
8,577,007
--
(2,094)
(4,236,937)
4,337,976
(2,050,781)
2,287,195
0.38
(11,719,108)
(2,750,758)
(14,469,866)
14,028,583
--
(1,790,648)
(301,305)
11,936,630
(4,712,331)
7,224,299
1.20
Profit/ (Loss) for the |
Period |
The annexed notes form an integral part of these financial statements.
Chief Executive Chief Financial Officer | Director |
Chief Executive | Chief Financial Officer | Director |
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Sardar Chemical Industries Ltd. published this content on 27 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 February 2023 06:30:10 UTC.