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.