CHENAB LIMITED L I M I T E D
Financial
Statements
for Nine Months period ended March 31
2019.
Contents
Company Information | 02 |
Director's Report to the Member s | 03 |
Director' s Report to the Members in Urdu | 04 |
Balance Sheet | 05 |
Profit & Loss Account | 06 |
Statement of Comprehensive Income | 06 |
Cash F low Statement | 07 |
Statement of Changing in Equity | 08 |
Notes to the Financial Statement | 09 |
Company Information
Chairman
Chief Executive
Directors
Nominee Director
Major Bankers
Chief Financial Officer
Company Secretary
Auditors
Shares Registrar
Registered Office
Website Address
Works
Mian Muhammad Latif
Mr. Muhammad Naeem
Mian Muhammad Javaid Iqbal
Mr. Muhammad Faisal Latif
Mr. Tariq Ayoub Khan
Mr. Masood Ul Hassan
Mr. Muhammad Hashim
Mr. Muhammad Salman Javed
Mrs. Sobia Chughtai
Allied Bank Limited.
Askari Bank Limited.
Al Baraka Bank (Pakistan) Limited.
Citibank, N.A.
Faysal Bank Limited.
First Credit & Investment Bank Limited.
Habib Bank Limited.
Habib Metropolitan Bank Limited.
KASB Bank Limited.
National Bank of Pakistan.
NIB Bank Limited.
Orix Leasing (Pakistan) Limited.
Pak Oman Investment Company Limited.
Pak Kuwait Investment Company (Pvt.) Limited.
Pak Libya Holding Company (Pvt.) Limited.
Saudi Pak Industrial & Agricultural Investment
Silk Bank Limited.
Standard Chartered Bank (Pakistan) Limited.
The Bank of Punjab.
United Bank Limited.
Mr. Faisal Ali Sarwar
Muhammad Arshad
Rahman Sarfaraz Rahim Iqbal Rafiq
Chartered Accountants.
F.D. Registrar Services (SMC-Pvt.) Limited
Office # 1705, 17th Floor, Saima Trade
Tower-A, I.I. Chundrigar Road, Karachi.
Tel:021-32271905-6/021-35478192-3
Nishatabad, Faisalabad. Tel:+92 41 8754472-8 Fax:+92 41 8752400, 8752700 chenab@chenabgroup.comwww.chenabgroup.com
-Spinning Unit | - Toba Tek Singh. |
-Weaving Unit | - Kharianwala, Distt: Sheikhupura. |
-Weaving Unit | - Shahkot, Distt: Nankana Sahib. |
-Processing & | |
Stitching Units | - Nishatabad, |
DIRECTORS' REPORT TO THE SHAREHOLDER'S
The Directors are presenting before you un-audited financial statements of the Company together with notes for nine months period ended on March 31, 2019. Figures of corresponding quarter of last year are also presented for comparison. The balance sheet figures as on March 31, 2019 and June 30, 2018 have been shown as required by the international Accounting standards (IAS) 34 for interim financial reporting.
SALES AND SERVICES REVENUE
Sales and Services Revenue of Rs.352.346 million was earned as compared with the Sales and Services revenue of Rs.710.068 million during the same period of the preceding period.
FINANCIAL RESULTS
In view of unfavorable business circumstances the Company has sustained a financial loss of Rs.88.386 million before taxation.
FUTURE PROSPECTS
The management got re-structuring done with banks through a Scheme of Arrangement on 14-09-2021. The winding up order passed by the Lahore High Court also got reversed on 29-10-2021. Thereafter the original management took over the charge.
The management is also pursuing to dispose off certain non core fixed assets of the Company to meet the requirement of working capital.
ACKNOWLEDGEMENT
The directors are thankful to its financial institutions for supporting the Company for revival of the Company and its employees who have rendered their dedicated services for the Company
For and on behalf of
BOARD OF DIRECTORS
FAISALABAD | (MUHAMMAD FAISAL LATIF) | (MUHAMMAD NAEEM) |
10-08-2023 | (DIRECTOR) | CHIEF EXECUTIVE OFFICER |
| | |||||||
201931 | | | ||||||
2019312018 30 | | |||||||
| ||||||||
| | |||||||
| | |||||||
| ||||||||
| | |||||||
| | | | |||||
| 34 | | ||||||
|
710.068352.348
88.386
14-09-2021
29-10-2021 | |
| |
10-08-2023
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Chenab Ltd. published this content on 16 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2023 06:58:06 UTC.
