DEWAN SALMAN FIBRE LIMITED
CONTENTS
Company Information .................................... . ...................... ...3
Directors' Review .............................................................. .... 4
Condensed Interim 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
13
DEWAN SALMAN FIBRE LIMITED
COMPANY INFORMATION
BOARD OF DIRECTORS
CHIEF FINANCIAL OFFICER
COMPANY SECRETARY
AUDIT COMMITTEEHUMAN RESOURCE & REMUNERATION COMMITTEEAUDITORSLEGAL ADVISORS
TAX ADVISORS
SHARE REGISTRAR / TRANSFER AGENTCORPORATE OFFICEFACTORY OFFICEREGISTERED OFFICEEXECUTIVE DIRECTORS
: Mr. Zafar Asim
Mr. Saleem-ul-haque
NON-EXECUTIVE DIRECTORS
: Mr. Muhammad Irfan Ali
Syed Farhan Asdaque Mr. Muhammad Wajid Ms. Momna Gull
INDEPENDENT DIRECTOR
: Mr. Asghar Iqbal
: Mr. Saleem-ul-haque
: Mr. Muhammad Hanif German
: Mr. Asghar Iqbal
Mr. Muhammad Wajid Mr. Muhammad Irfan Ali
: Mr. Asghar Iqbal Mr. Zafar Asim
Mr. Muhammad Wajid
: Faruq Ali & Company Chartered Accountants
: Feroze Sharif Tariq & Co. Chartered Accountants
: Khalid Anwer & Company - Advocates
: Sharif & Company - Advocates
Chief Executive OfficerChairman Board of DirectorsChairman Member MemberChairman Member Member
: BMF Consultants Pakistan (Pvt.) Ltd. Anum Estate Building, Room No. 310 & 311, 3rd Floor, 49, Darul Aman Society, Shahrah-e-Faisal, Adjacent to Baloch Colony Bridge, Karachi, Pakistan
: Finance & Trade Centre, Block A, 2nd Floor, Shahrah-e-faisal, Karachi.
: Plot No. 1, Dewan Farooque Industrial Park, Hattar, District Haripur, Khyber Pakhtunkhwa.
: Plot No. 6, Street No. 9, Fayyaz Market,
G-8/2, Islamabad, Pakistan
BANKERS
: Al Baraka Islamic Investment Bank Limited Allied Bank Limited
Askari Bank Limited Bank Al Falah 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
WEBSITE
www.yousufdewan.com
THIRD QUARTER REPORT 202203
DIRECTOR'S 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, 2022 in compliance with the requirements of section 245 of the Company's Ordinance 1984, as amended through Companies (amendment) Ordinance 2002 and Code of Corporate Governance issued by the Securities and Exchange Commission of Pakistan.
OPERATING AND FINANCIAL RESULTS AT A GLANCE
(Rupees In'000')
SALES (NET) | (Nil) |
COST OF SALES | 384,640 |
GROSS LOSS | (384,640) |
OPERATING EXPENSES | 27,476 |
OPERATING LOSS | (412,116) |
FINANCE COST | (489,089) |
LOSS BEFORE TAXATION | (901,205) |
TAXATION | 62,067 |
LOSS AFTER TAXATION | (839,183) |
Company recorded net sales of Rs. nil (2021-Rs.nil) during the period under review suffered gross loss of Rs. 384.640 million (2021 Rs. 416.434 million). And loss after taxation amounted to Rs. 839.183 million. (2021 Rs. 83.098 million)
INDUSTRY OVERVIEW
During the period under review, conditions for Pakistan's textile industry remained favorable. It has picked up a growing pace following the removal of Covid-19 restrictions. However, unprecedented hike in input prices at international level and continuous fluctuation in exchange rate has significantly increased the working capital requirements for many sub sectors of textile sector.
The domestic Polyester industry enjoyed maximum capacity utilization and respectively higher sales volume during the period under review, due to the strong market demand. Local PSF prices maintained the upward trajectory during the quarter. Domestic cotton use continues to be driven by the strong performance of value-added textile exports.
Going forward, prospects for Pakistan's export-oriented textile sector remain bright.
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THIRD QUARTER REPORT 2022
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.
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.
Zafar Asim Chief Executive OfficerMohammad Irfan Ali Chairman Board of Directors
Karachi
Date: April 26, 2022
THIRD QUARTER REPORT 2022
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Dewan Salman Fibre Ltd. published this content on 27 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2022 05:44:02 UTC.