Grays Leasing : Transmission of half yearly accounts for the period ended 31-December-2022

Condensed Interim

Financial Statements

31 December 2022

(Un-Audited)

COMPANY INFORMATION

BOARD OF DIRECTORS	Mr. Khawar Anwar Khawaja	Chairman
	Mr. Muhammad Tahir Butt	Chief Executive
	Mr. Khurram Anwar Khawaja
	Mr. Iftikhar Ahmad Butt
	Mr. Omer Khawar Khawaja
	Mr. Muhammad Arshad
	Mrs. Nuzhat Khawar Khawaja
AUDIT COMMITTEE	Mr. Iftikhar Ahmad Butt
	Mr. Khurram Anwar Khawaja
	Mr. Omer Khawar Khawaja
AUDITORS	Riaz Ahmad & Company
	Chartered Accountants
	10-B Saint Mary Park
	Main Boulevard, Gulberg III Lahore 54660, Pakistan
	Phone: [phone]
	E-mail: [e-mail]
COMPANY SECRETARY	Muhammad Adil Munir
CHIEF FINANCIAL OFFICER	Muhmmad Faisal Azam
HEAD OF INTERNAL AUDIT	Saeed Ahmad Shaheen
HUMAN RESOURCE AND	Mr. Omer Khawar Khawaja	Chairman
REMUNERATION COMMITTEE
	Mr. Muhammad Tahir Butt
	Mr. Khurram Anwar Khawaja
LEGAL ADVISOR	Lexicon Law Firm
REGISTERED AND HEAD OFFICE	701-A, 7th Floor, City Towers
	6-K, Main Boulevard, Gulberg - II, Lahore
	Tel: [phone] - 2
	Fax: [phone]
	E-mail:[e-mail]
	Website: www.graysleasing.com
BANKERS	Meezan Bank Limited
	The Bank of Punjab
	Askari Bank Limited
	National Bank of Pakistan
	Habib Bank Limited
	State Bank of Pakistan
	First Women Bank Limited
	Bank Al-Habib Limited
SHARE REGISTRAR	CorpTec Associates (Pvt) Ltd.
	503-E, Johar Town, Lahore.

We are pleased to present the condensed interim financial information for the period ended 31 December 2022, together with report of the Board of Directors of the company and review report by the statutory auditors of the company.

During the period ended 31 December 2022, the company transacted business worth Rupees 18.674 million as compared to Rupees 27.915 million on 31 December 2021. During the period ended 31 December 2022, the company earned profit before and after tax of Rupees 5.795 million and Rupees 4.912 million respectively as compared to profit before and after tax of Rupees 1.776 million and Rupees 0.212 million during the corresponding period of 2021. Net investment stands at Rupees 435.318 million as on 31 December 2022 as compared to Rupees 460.191 million as on June 30, 2022. During the period ended 31 December 2022, there is reversal in provision of Rupees 2.216 million against potential lease losses, resultantly the equity of the company comes to Rupees 62.847 million.

In our country there is a huge demand of financing in SME sector which are still undiscovered, but the leasing sector is unable to cater the needs of the potential customers due to non-availability of the funds from commercial banks. However, the company has emphasized on the recoveries from the stuck-up clients and the proceeds from stuck ups are directed to new leases.

Grays Leasing Limited (GLL) is a non-deposit taking organization, therefore credit rating of Company is not mandatory.

At the end, we would like to thank our clients who provided us the opportunity to serve them. We also extend lot of appreciation to the company employees at all levels for their efforts.

For and on behalf of the board

	Muhammad Tahir Butt
Sialkot: 23 February 2023	Chief Executive