NISHAT (CHUNIAN) LIMITED
STATEMENT OF FINANCIAL POSITION AS AT 31 JANUARY 2022

31 January 2022

30 June 2021

31 January 2022

30 June 2021

Note

Rupees

Rupees

Note

Rupees

Rupees

EQUITY AND LIABILITIES

ASSETS

SHARE CAPITAL AND RESERVES

NON-CURRENT ASSETS

Authorized share capital

3

4,200,000,000

4,200,000,000

Fixed assets

13

19,354,958,393

17,224,473,737

Right-of-use assets

14

88,883,196

107,398,163

Issued, subscribed and paid-up share capital

3

2,401,190,290

2,401,190,290

Intangible asset

15

632,033

278,170

Reserves

4

20,795,787,708

16,594,945,741

Long term investments

16

1,886,681,200

1,886,681,200

Total equity

23,196,977,998

18,996,136,031

Long term loans to employees

17

21,797,593

18,710,927

Long term security deposits

31,334,353

30,467,609

21,384,286,768

19,268,009,806

LIABILITIES

NON-CURRENT LIABILITIES

CURRENT ASSETS

Long term financing

5

10,072,732,737

6,402,802,708

Stores, spare parts and loose tools

18

2,438,431,549

1,729,136,103

Lease liabilities

6

59,406,338

74,518,895

Stock-in-trade

19

25,517,532,735

18,214,419,656

Deferred liabilities

7

562,822,992

191,412,367

Trade debts

20

8,746,632,600

6,782,425,428

10,694,962,067

6,668,733,970

Loans and advances

21

2,578,037,588

3,269,989,437

CURRENT LIABILITIES

Short term prepayments

55,006,110

44,440,439

Other receivables

22

3,070,687,465

1,752,633,789

Trade and other payables

8

6,196,262,329

4,093,556,015

Advance income tax - net

23

146,476,101

278,858,017

Accrued mark-up / profit

9

253,373,642

271,720,913

Short term investments

24

223,370,407

157,494,433

Short term borrowings

10

21,521,500,797

18,897,913,417

Cash and bank balances

25

175,111,562

272,634,954

Current portion of non-current liabilities

11

2,415,266,057

2,792,063,629

42,951,286,117

32,502,032,256

Unclaimed dividend

57,229,995

49,918,087

30,443,632,820

26,105,172,061

Total liabilities

41,138,594,887

32,773,906,031

CONTINGENCIES AND COMMITMENTS

12

TOTAL EQUITY AND LIABILITIES

64,335,572,885

51,770,042,062

TOTAL ASSETS

64,335,572,885

51,770,042,062

The annexed notes form an integral part of these financial statements. Statement under section 232 of the Companies Act, 2017

These financial statements have been signed by two directors and chief financial officer instead of chief executive, one director and chief financial officer as the chief executive is not available for the time being in Pakistan.

_____________________

______________

____________________________

DIRECTOR

DIRECTOR

CHIEF FINANCIAL OFFICER

NISHAT (CHUNIAN) LIMITED

STATEMENT OF PROFIT OR LOSS

FOR THE SEVEN MONTHS PERIOD ENDED 31 JANUARY 2022

Seven months

period from 01

Year ended 30

July 2021 to 31

June 2021

January 2022

Note

Rupees

Rupees

REVENUE

26

36,241,890,207

49,283,753,375

COST OF SALES

27

(28,053,733,640)

(40,314,606,582)

GROSS PROFIT

8,188,156,567

8,969,146,793

DISTRIBUTION COST

28

(928,455,964)

(1,160,598,536)

ADMINISTRATIVE EXPENSES

29

(144,690,442)

(311,916,781)

OTHER EXPENSES

30

(354,570,648)

(340,448,157)

(1,427,717,054)

(1,812,963,474)

6,760,439,513

7,156,183,319

OTHER INCOME

31

248,558,591

864,014,535

PROFIT FROM OPERATIONS

7,008,998,104

8,020,197,854

FINANCE COST

32

(1,195,717,804)

(1,747,035,020)

PROFIT BEFORE TAXATION

5,813,280,300

6,273,162,834

TAXATION

33

(411,843,188)

(674,306,049)

PROFIT AFTER TAXATION

5,401,437,112

5,598,856,785

EARNINGS PER SHARE - BASIC AND DILUTED

34

22.49

23.32

The annexed notes form an integral part of these financial statements.

Statement under section 232 of the Companies Act, 2017

These financial statements have been signed by two directors and chief financial officer instead of chief executive, one director and chief financial officer as the chief executive is not available for the time being in Pakistan.

_____________________

______________

___________________________

DIRECTOR

DIRECTOR

CHIEF FINANCIAL OFFICER

NISHAT (CHUNIAN) LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE SEVEN MONTHS PERIOD ENDED 31 JANUARY 2022

Seven months

period from 01

Year ended 30

July 2021 to 31

June 2021

January 2022

Rupees

Rupees

PROFIT AFTER TAXATION

5,401,437,112

5,598,856,785

OTHER COMPREHENSIVE INCOME

Items that will not be reclassified to profit or loss

-

-

Items that may be reclassified subsequently to profit or loss

-

-

Other comprehensive income for the period / year

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD / YEAR

5,401,437,112

5,598,856,785

The annexed notes form an integral part of these financial statements.

Statement under section 232 of the Companies Act, 2017

These financial statements have been signed by two directors and chief financial officer instead of chief executive, one director and chief financial officer as the chief executive is not available for the time being in Pakistan.

____________________

_____________

___________________________

DIRECTOR

DIRECTOR

CHIEF FINANCIAL OFFICER

NISHAT (CHUNIAN) LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE SEVEN MONTHS PERIOD ENDED 31 JANUARY 2022

CAPITAL

REVENUE RESERVES

RESERVE

SHARE CAPITAL

TOTAL EQUITY

Share premium

General reserve

profit

Total

- - - - - - - - - - - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - - - - - - - - - - - - - -

Balance as at 30 June 2020

2,401,190,290

600,553,890

1,629,221,278

9,006,432,817

10,635,654,095

13,637,398,275

Transaction with owners:

Final dividend for the year ended 30 June 2020 @ Rupees 1.00 per share

-

-

-

(240,119,029)

(240,119,029)

(240,119,029)

Profit for the year

-

-

-

5,598,856,785

5,598,856,785

5,598,856,785

Other comprehensive income for the year

-

-

-

-

-

-

Total comprehensive income for the year

-

-

-

5,598,856,785

5,598,856,785

5,598,856,785

Balance as at 30 June 2021

2,401,190,290

600,553,890

1,629,221,278

14,365,170,573

15,994,391,851

18,996,136,031

Transaction with owners:

Final dividend for the year ended 30 June 2021 @ Rupees 5.00 per share

-

-

-

(1,200,595,145)

(1,200,595,145)

(1,200,595,145)

Profit for the period

-

-

-

5,401,437,112

5,401,437,112

5,401,437,112

Other comprehensive income for the period

-

-

-

-

-

-

Total comprehensive income for the period

-

-

-

5,401,437,112

5,401,437,112

5,401,437,112

Balance as at 31 January 2022

2,401,190,290

600,553,890

1,629,221,278

18,566,012,540

20,195,233,818

23,196,977,998

The annexed notes form an integral part of these financial statements.

Statement under section 232 of the Companies Act, 2017

These financial statements have been signed by two directors and chief financial officer instead of chief executive, one director and chief financial officer as the chief executive is not available for the time being in Pakistan.

______________________

_____________

_____________________________

DIRECTOR

DIRECTOR

CHIEF FINANCIAL OFFICER

NISHAT (CHUNIAN) LIMITED

STATEMENT OF CASH FLOWS

FOR THE SEVEN MONTHS PERIOD ENDED 31 JANUARY 2022

Seven months

period from 01 July

Year ended 30

2021 to 31 January

June 2021

2022

Note

Rupees

Rupees

CASH FLOWS FROM OPERATING ACTIVITIES

Cash (used in) / generated from operations

35

(550,088,499)

5,915,160,852

Net (increase) / decrease in long term security deposits

(866,744)

1,222,151

Finance cost paid

(1,115,939,581)

(1,878,533,131)

Workers' profit participation fund paid

(313,287,572)

(31,100,107)

Income tax paid

(279,461,272)

(325,774,547)

Net decrease / (increase) in long term loans to employees

6,430,235

(12,285,766)

Net cash (used in) / generated from operating activities

(2,253,213,433)

3,668,689,452

CASH FLOWS FROM INVESTING ACTIVITIES

Capital expenditure on property, plant and equipment

(2,839,879,710)

(1,867,069,998)

Proceeds from disposal of operating fixed assets

24,459,035

68,579,715

Capital expenditure on intangible asset

(468,665)

(300,251)

Loans to subsidiary companies

-

(4,548,221,699)

Repayments of loans from subsidiary companies

-

4,548,221,699

Short term investments made

(64,000,000)

(120,000,000)

Interest received

4,640,135

12,065,549

Net cash used in investing activities

(2,875,249,205)

(1,906,724,985)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from long term financing

5,525,589,385

4,308,932,735

Repayment of long term financing

(1,892,486,934)

(1,907,865,663)

Repayment of lease liabilities

(32,467,348)

(40,426,714)

Short term borrowings - net

2,623,587,380

(3,656,521,867)

Dividend paid

(1,193,283,237)

(240,915,306)

Net cash from / (used in) financing activities

5,030,939,246

(1,536,796,815)

Net (decrease) / increase in cash and cash equivalents

(97,523,392)

225,167,652

Cash and cash equivalents at the beginning of the period /

year

272,634,954

47,467,302

Cash and cash equivalents at the end of the period / year

175,111,562

272,634,954

The annexed notes form an integral part of these financial statements.

Statement under section 232 of the Companies Act, 2017

These financial statements have been signed by two directors and chief financial officer instead of chief executive, one director and chief financial officer as the chief executive is not available for the time being in Pakistan.

____________________

_______________

____________________________

DIRECTOR

DIRECTOR

CHIEF FINANCIAL OFFICER

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Nishat Chunian Ltd. published this content on 21 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2022 06:27:06 UTC.