Abdullah Shah Ghazi Sugar Mills : Transmission of Quarterly Report for the Period Ended December 31, 2021
March 01, 2022 at 02:38 am EST
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1st Quarter
Condensed Interim Financial
Statements
For the quarter ended 31 December 2021 (Un-audited)
Abdullah Shah Ghazi Sugar Mills Limited
1st Quarter
CONTENTS
Company Information………………………………………………….. 01
Director Report…………………………………………………………….. 02
Balance Sheet…………………………………………………………….... 03
Profit & Loss Account……………………………………………………. 04
Statement of Comprehensive Income…………………………… 05
Cash Flow Statement………………………………………………… 06
Statement of Changes in Equity……………………………………..07
Notes to the Financial Statements………………………………… 08
CORPORATE INFORMATION
Board of Directors
Muhammad Dawood
(Director/Chief Executive)
Yasir Iqbal (Chairman)
Muhammad Nawaz
Muhammad Rashid Rana
Atif Butt
Muhammad Talib
Amjad Abbas
Audit Committee
Muhammad Nawaz
(Chairman/Member)
Atif Butt
(Member)
Amjad Abbas
(Member)
Chief Financial Officer
Sohail Azam Khan
Company Secretary
Saleem Abbas
Internal Auditors
Syed Waqar Ali Bukhari
Auditors
Akhtar Mahmood Mian
Chartered Accountants
Registrar
CDC Shares Registrar Services Limited,
CDC House, 99-B,Block-B, S.M.C.H.S.,
Main Shahrah-e-Faisal, Karachi, Pakistan
Registered Office
7/10, A-2 Arkay Square Shahrah-e-Liaqa, New Challil, Karachi
Mills
Abdullah Shah Ghaziabad, Garho, District Thatta, Sindh
Bankers
Bank Islami Pakistan Limited
Summit Bank Limited
Bank Al-Faflah Limited
Silk Bank Limited
MCB Bank Limited
Meezan Bank Limited
Habib Metropolitan Bank Limited
United Bank Limited
Allied Bank Limited
Web Presence:
www.asgsml.com
01
DIRECTOR'S REPORT
Dear Members,
Assalam-o-Alaikum,
On behalf of the Board, I am pleased to present un-audited Interim Financial Statements of the Company for the first quarter ended on December 31, 2021.
Financial Results
During the period under review the operation of your company resulted in pre-tax loss of Rs. 67.768 million. The financial results are as under:
(Rupees in Thousands)
Loss before Taxation
(72,714)
Taxation
37,819
Loss after Taxation
(34,985)
The sugar industry continued to be under pressure. In consistent with prior year, there remained a persistent shortage of sugar cane crop especially in mills' surrounding areas. This scarcity of crop coupled with non-availability of requisite finances resulted in to non-operation of mills during the year
Acknowledgement
The Board would like to place on record its appreciation of all the employees of the company for their dedication and hard work.
Lahore:
March 01, 2022
02
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Abdullah Shah Ghazi Sugar Mills Ltd. published this content on 01 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2022 07:37:09 UTC.
Abdullah Shah Ghazi Sugar Mills Limited is a Pakistan-based company, which is primarily involved in sugar and molasses manufacturing and importing and trading of sugar plants machinery. The Company has a total installed capacity of approximately 3,000 tons of cane per day (TCD) and produces refined white sugar. Its mill is located at Gharo, district Thatta, Sindh.