Shabbir Tiles and Ceramics : Transmission of Quarterly Report for the Period Ended 2022-03-31

SHABBIR TILES AND CERAMICS LIMITED

Condensed Interim Financial Statements

For the Third Quarter and Nine Months ended

March 31, 2022

(Un-Audited)

CONTENTS

01

Company Information

03

Directors' Report (English and Urdu)

06

07

08

09

10

Condensed Interim Statement of Financial Position Condensed Interim Statement of Profit or Loss Condensed Interim Statement of Comprehensive Income Condensed Interim Statement of Changes in Equity Condensed Interim Statement of Cash Flows

11

Notes to the Condensed Interim Financial Statements

COMPANY INFORMATION

BOARD OF DIRECTORS

Rafiq M. Habib

Syed Masood Abbas Jaffery Muhammad Salman Burney Imran Ali Habib

Abdul Hai M. Bhaimia Feroze Jehangir Cawasji Farhana Mowjee KhanChairman

Chief Executive Officer Director

Director Director Director Director

AUDIT COMMITTEEHUMAN RESOURCES AND REMUNERATION COMMITTEE

CHIEF FINANCIAL OFFICER COMPANY SECRETARY AUDITORS

LEGAL ADVISOR

BANKERS

REGISTERED OFFICE AND FACTORY UNIT-1

Feroze Jehangir Cawasji Abdul Hai M. Bhaimia Farhana Mowjee Khan

Feroze Jehangir Cawasji Muhammad Salman Burney Syed Masood Abbas Jaffery

Chairman Member Member

Chairman Member Member

Mustafa Jafar

Ovais Jamani

EY Ford Rhodes Chartered Accountants

Munawar Malik & Co. Advocate Supreme Court

Habib Metropolitan Bank Limited Habib Bank Limited

Dubai Islamic Bank Pakistan Limited Faysal Bank Limited

Allied Bank Limited Meezan Bank Limited Bank Al Falah Limited

15th Milestone, National Highway Landhi Industrial Area, Karachi-75120 Phone: (021) 38183610-3

E-mail:info@stile.com.pk

Fax: URL:

(021) 38183615http://www.stile.com.pkREGISTRAR AND SHARE TRANSFER OFFICE

FACTORY UNIT-2

CDC Share registrar Services Limited, CDC House, 99-B, Block 'B', S.M.C.H.S Main Shahrah-e-Faisal, Karachi-74400. Phone: 0800 23275

URL:www.cdcsrsl.comEmail: info@cdcsrsl.comDeh Khanto, Tappo Landhi, District Malir, Bin Qasim Town, KarachiPhone: (021) 34102702

Fax: (021) 34102709

ISLAMABAD

(BUILDING MATERIAL PRODUCTS)

Plot No 1, ANF Empty Parking Road, Yamaha Chowk Road, Model Town, Humak, Islamabad.

LAHORE

(BUILDING MATERIAL PRODUCTS)

78-A , Factory Adda, Dina Nath main Multan Road, 46KM, Lahore

COMPANY INFORMATION

STILE EMPORIUM AND DESIGN STUDIOS AND SALES OFFICES

STAR GATE EMPORIUM, KARACHI

Metro Cash & Carry, CAA, Near Star Gate, Main Shahrah-e-Faisal,Karachi.

Phone: (021) 34601372-74

FACTORY EMPORIUM, KARACHIDHA BUKHARI EMPORIUM, KARACHIDHA 26TH STREET EMPORIUM, KARACHIBUILD MATE EMPORIUM, KARACHIDHA EMPORIUM, LAHORETHOKAR NIAZ BAIG EMPORIUM, LAHOREMUREE ROAD EMPORIUM, RAWALPINDIISLAMABAD EMPORIUM

15th Milestone, National Highway, Landhi Industrial Area, Karachi

Phone: (021) 38183610-3

Plot 22-C, Lane 4, Bukhari Commercial, DHA, Phase VI, Karachi.

Phone: (021) 37249564

26th Street Plot C-8-C, DHA Phase 5, Karachi.

Phone: (021) 37228922

Build Mate 82-B, Midway Commercial, Bahria Town, Karachi

Phone: 0345-3019124

DHA Lahore 164, CCA , Phase 4, LahorePhone: (042) 37185710-12

Metro Cash & Carry, Thokar Niaz Baig Multan Road, Lahore

Phone: 0301-8282212

Al Shareef Plaza, Ground Floor, Shamsabad, Murree Road, Rawalpindi

Phone: (051) 4935521-23

Metro Islamabad, Plot No. 1-A, Sector 1-11/4, Near Sabzi Mandi,Islamabad

Phone: (051) 8469524

PESHAWAR EMPORIUMFAISALABAD EMPORIUMHYDERABAD EMPORIUM

162/408 Tahkal Payan, University Road , Peshawar

Phone: (091) 3028068

Talha Heights , Main Susan Road, P-243, 2A, Faisalabad

Phone: (041) 8739988

Shop no. 13 & 14, Fortune Arcade, Jamshoro Road, next to KFCNear Qasim Chowk, Hyderabad.

Phone: 0300-0647227

MULTAN EMPORIUM

Officers Colony, Main Bosan Road, Chungi No. 9, Next to Crystal Mall,Multan.

Phone: (061) 2078492

BAHAWALPUR EMPORIUMWAH CANTT EMPORIUMSUKKUR SALES OFFICEGround Floor, Commercial Building, Khawat No. 199/197, Moza BandraMultan Road, Bahawalpur.

Phone: 0301-8726867

Khan Plaza, Khasra No 434, GT Road, near Raja Saab Mall, Wah Cantt

Phone: (051) 4926280-81

Tooba Plaza, Mezzanine Floor, Workshop Road, Sukkur

Phone:

Phone: (071) 5615560

SHABBIR TILES AND CERAMICS LIMITED DIRECTORS' REPORT TO THE SHAREHOLDERS

FOR THE THIRD QUARTER AND NINE MONTHS ENDED MARCH 31, 2022

The Directors are pleased to present the financial results of your Company for the third quarter and nine months ended March 31, 2022.

BUSINESS CHALLENGES AND FINANCIAL PERFORMANCE

Non-availability of gas reached un-precedented levels during the quarter under review, resulting in margins being impacted due to expensive alternate energy sources such as LPG and diesel in order to continue operating plants. Continuous weakening of rupee and increase in the international prices of raw materials, also exerted pressure on gross margins. Despite these challenges, the management continued to keep focus in producing best in class quality, efficient product mix and promoting exclusive products through company operated emporiums.

The financial performance for the nine months is summarized below:

Rs. in ' 000

During the period, the gross margins decreased to 26% versus 32%, as a result of the reasons discussed above. The overall profit before tax was Rs. 805 million as against Rs. 1,199 million in the same period last year.

FUTURE OUTLOOK

Depleting natural gas reserves continue to threaten sustainability of industrial sector, specially tile which considers natural gas as the most essential raw material. A strong Governmental resolve to address this risk is more critical than ever.

The Company is heavily dependent on natural gas for its energy needs. International supply chain constraints during the pandemic had resulted in a surge in coal and oil prices and now resumption in economic activity around the world is likely to continue pushing energy prices higher. Recent geopolitical tensions between Russia and West will exacerbate the situation even further. Further, Pak Rupee have also depreciated further due to domestic political uncertainty and will continue to put further pressure on cost of imported raw materials. These factors will continue to bear down on the tile industry and it will be even more challenging for the Company to maintain margins in the near future.

We take this opportunity to thank all stakeholders for their continued support.

On behalf of the Board of Directors

SYED MASOOD ABBAS JAFFERY

FEROZE JEHANGIR CAWASJI

Chief Executive Officer

Director

Karachi: April 22, 2022

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