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.

04

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

05

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

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.