SECURITY PAPERS LIMITED CONTENTS
Company information | 02 |
Directors' Report | 04 |
Condensed interim statement of financial position | 05 |
Condensed interim statement of profit or loss (un-audited) | 06 |
Condensed interim statement of other comprehensive income (un-audited) | 07 |
Condensed interim statement of changes in equity (un-audited) | 08 |
Condensed interim statement of cash flows (un-audited) | 09 |
Notes to the condensed interim financial information (un-audited) | 10 |
Attention shareholders | 21 |
QUARTERLY REPORT
COMPANY INFORMATION | ||
BOARD OF DIRECTORS | ||
Chairman | ||
Mr. Mohammad Aftab Manzoor | - | Non-executive |
Directors | ||
Mr. Muhammad Sualeh Ahmad Faruqui | - | Non-executive - Independent |
Mr. Jamal Nasim | - | Non-executive |
Dr. Abolghassem Jamshidi | - | Non-executive |
Ms. Figen Caliskan | - | Non-executive |
Mrs. Uzma Aijaz | - | Non-executive - Independent |
Hafiz Mohammad Yousaf | - | Non-executive |
Mr. Shafqaat Ahmed | - | Non-executive |
Mr. Munir Ahmed | - | Non-executive - Independent |
Chief Executive Officer | ||
Mr. Imran Qureshi | - | Executive |
BOARD AUDIT COMMITTEE | ||
Mrs. Uzma Aijaz | - | Chairperson |
Mr. Jamal Nasim | - | Member |
Dr. Abolghassem Jamshidi | - | Member |
Hafiz Mohammad Yousaf | - | Member |
Mr. Shafqaat Ahmed | - | Member |
Mr. Rizwan Ul Haq Khan | - | Secretary |
BOARD HUMAN RESOURCE AND REMUNERATION COMMITTEE | ||
Mrs. Uzma Aijaz | - | Chairperson |
Mr. Mohammad Aftab Manzoor | - | Member |
Mr. Jamal Nasim | - | Member |
Mr. Munir Ahmed | - | Member |
Mr. Rizwan Ul Haq Khan | - | Secretary |
CHIEF FINANCIAL OFFICER | - | Mr. Babar Aijaz |
COMPANY SECRETARY | - | Mr. Rizwan Ul Haq Khan |
BANKERS | ||
Bank Al Habib Limited | ||
National Bank of Pakistan | ||
Meezan Bank Limited | ||
Habib Metropolitan Bank Limited | ||
Bank Alfalah Limited | ||
Khushhali Microfinance Bank Limited | ||
MIB Bank Limited | ||
QUARTERLY REPORT | 02 |
AUDITORS | TAX CONSULTANTS | |
KPMG Taseer Hadi & Co. | A. F. Ferguson & Co. | |
Chartered Accountants | Chartered Accountants | |
LEGAL ADVISORS | ||
Mohsin Tayebaly & Co. | ||
Advocates & Legal Consultants | ||
REGISTERED OFFICE | SHARE REGISTRARS | |
Jinnah Avenue, Malir Halt, | FAMCO Associates (Pvt.) Limited | |
Karachi - 75100 | 8-F, Near Hotel Faran, Nursery, | |
Tel | : (+9221) 99248285 | Block-6, P.E.C.H.S, Shahra-e-Faisal, |
Fax | : (+9221) 99248286 | Karachi. |
E-mail :comsec@security-papers.com | Tel: (+9221) 34380101-5 | |
Fax: (+9221) 34380106 | ||
E-mail:info.shares@famco.com.pk | ||
FACTORY | WEB SITE | |
Jinnah Avenue, Malir Halt, | http://www.security-papers.com | |
Karachi - 75100 | ||
Tel | : (+9221) 99248536-37 | |
Fax | : (+9221) 99248616 | |
QUARTERLY REPORT | 03 |
DIRECTORS' REPORT
On behalf of the Board of Directors, we present the un-audited financial information for the nine months period ended March 31, 2023.
BUSINESS AND PERFORMANCE REVIEW
The Company produced 3177 tons of finished paper during the period under review as against 3342 tons in the corresponding period of preceding year. Net sales were reported at Rs 3,616 million during the nine months period under review as against Rs 3,935 million in the corresponding period of preceding year.
The Company reported gross profit of Rs 628 million as against Rs 1,409 million in the corresponding period of preceding year showing a decrease of Rs 781 million primarily owing to rising input costs. The profit before and after taxation during the period under review stood at Rs 662 million and Rs 431 million as against Rs 1,240 million and Rs 896 million respectively during the corresponding period of preceding year. It includes other income of Rs 477 million earned during the period under review as against Rs 247 million in the corresponding period of preceding year.
FUTURE PROSPECTS
The Pakistani economy is facing significant challenges with risks emanate from abysmally low Foreign Exchange (FX) reserves, steep inflation and rising interest rates. Continued delay in the resumption of IMF program coupled with the geo-political uncertainty have further aggravated the economic challenges. As a result, the input cost, both raw materials and utilities, are on rising trend.
Your Company remains cognizant of the present business challenges and is continually assessing its strategy to meet the customers' demand while improving productivity through innovation, efficiency and effective cost containment initiatives.
ACKNOWLEDGEMENT
The directors of your Company take this opportunity to express their gratitude to all the stakeholders for their encouragement and support.
On behalf of the Board of Directors
IMRAN QURESHI | SHAFQAAT AHMED |
Chief Executive Officer | Director |
Karachi | |
Dated: April 27, 2023 |
QUARTERLY REPORT | 04 |
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Security Papers 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 06:06:06 UTC.
