Karam Ceramics : Transmission of QuarterlyA Financial Statements for the period ended September 30, 2023.

KARAM CERAMICS LIMITED

REPORT OF THE DIRECTORS

FOR THE FIRST QUARTER ENDED 30th SEPTEMBER 2023

Dear Shareholders

The Directors of your Company present to you the financial results of your Company for the first quarter ended September 30,2023

The financial performance for the first quarter ended 30 September 2023 is summarized below:

Particulars	September 30,	September 30,
	2023	2022
Net Sales	372,661,288	62,024,918
Cost of Sales	(419,454,255)	(158,271,658)
Gross ( Loss) / Profit	(46,792,967)	(96,246,740)
Net (Loss) / Profit after after taxation	(62,996,364)	(111,478,300)

Our financial performance for the quarter ending September 30,2023, is summarized as follows:

Our net sales for the period amounted to Rs. 372.66 million, reflecting a substantial increase from the corresponding period last year, where it stood at Rs. 62.024 million. This represents a remarkable growth of Rs. 310.64 million.

we have significantly improved our gross profitability. In this quarter we reported a gross loss of Rs. (46.79) million, which is notably better than the gross loss of Rs. (96.24) million during the same period in the previous year. This reflects a decrease in our gross loss by Rs. 49.45 million, indicating a positive trend in our operations.



Our loss before and after taxation for the review period was Rs. 58.59 million and Rs. 63 million, respectively. In contrast, during the corresponding period in the preceding year, we recorded losses of Rs. 114.12 million and Rs. 111.478 million, respectively. These figures

underscoure our commitment to improving the copany's financial health.

We would like to extend our sincer gratitude to our well-wishers, shareholders, valued customers, esteemed dealers, supportive banks & DFI's, reliable suppliers of raw materials, and trusted partners in plant and machinery. Furthermore, we would like to express our heartfelt apprectation for the dedication and hard work of our employees who have contributed sifnificantly to the progress of our company.

On behalf of the Board

Syed Mazhar Ali Nasir

Chief Executive Officer

Karachi: October 27,2023

KARAM CERAMICS LIMITED

REPORT OF THE DIRECTORS

FOR THE FIRST QUARTER ENDED 30 th SEPTEMBER 2023



KARAM CERAMICS LIMITED

STATEMENT OF FINANCIAL POSITION

AS AT S E P T E M BE R 30,2023 (U N AU D I T E D )

	September		June
	2023	2023
AS SETS	Rupees		Rupees
Non-current assets	1,005,862.475	1,006,091,132
Property, plant and equipment
Long term security deposits	898,453		898,453
Current assets	1,006,760,928	1,006,989,585

Stores and spares Stock in trade

Loans and advances - considered good Advance tax

Refunds due from the government

Deposits, prepayments and other receivables

Cash and bank balances

TOTAL ASSETS

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Authorised capital

15,000,000(2023: 15,000,000) ordinary, shares of Rs.10 each

Issued, subscribed and paid-up capital

Unappropriated profit

Revaluation surplus on property, plant & equipment

Remeasurement of retirement, benefit obligation Subordinated loan

LIABILITIES

Non-current liabilities

121,938,777

633,254,906

1,470,536

11,667,865

51,921,403

10,316,978

42,934,692

873,505,157

1,880,266,085

150,000,000

145,486,760

(535,335,017)

392,471,371

2,340,703

1,452,734,796

1,457,698,613

85,131,657

653,740,586

1,546,536

17,666,902

61,816,494

93,365

43,733,323

863,728,864

1,870,718,448

150,000,000

145,486,760

(477,674,447)

397,807,165

2,340,703

1,452,734,796

1,520,694,977

Post employment benefits Deferred taxation

Current liabilities

Trade and other payables

Short term borrowings

Advance from customers

Unclaimed Dividend

Dividend payable

Provision for taxation

Total liabilities

Contingencles and Commitments

TOTAL EQUITY AND LIABILIITIES

19,768,885

32,022,421

51,791,306

214,820,571

103,000,000

44,635,730

513,191

3,148,405

4,658,266

370,776,163

422,567,469

-

1,880,266,085

22,130,474

32,272,215

54,402,689

178,458,389

90,000,000

11,286,628

513,191

3,148,408

12,214,168

295,620,781

350,023,470

-

1,870,718,448

Chief Executive

Chief Financial Officer

Director

KARAM CERAMICS LIMITED

INTERIM CONDENSED PROFIT AND LOSS ACCOUNT

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2023

Revenue

Cost of sales

Gross profit / (Loss)

Selling and distribution expenses Administrative expenses

Operating profit / (Loss)

Other income

Finance cost

Profit / (Loss) before taxation

Taxation

Profit / (Loss) after taxation

Earnings / (Loss) per share-basic diluted

September

2023

Rupees

372,661,288

(419,454,255)

(46,792,967)

3,026,344

7,122,468

(10,148,812)

(56,941,779)

557,686

(2,203,799)

(1,646,113)

(58,587,892)

(4,408,472)

(62,996,364)

(4.33)

September

2022

Rupees

62,024,918

(158,271,658)

(96,246,740)

3,634,149

6,952,697

(10,586,846)

106,833,586

1,612,624

(8,895,802)

(7,283,178)

(114,116,764)

2,638,464

(111,478,300)

(7.66)

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

Notes:

• These condensed interim financial statements have been prepared in accordance with the requirements of the International Accounting Standard 34 and provision of and directive issued under the Companies Act, 2017

• The accounting policies adopted for the preparation of these accounts are the same
  as thos applied in the preparation of these accounts are the same as those applied in the preparation of the accounts for the preceding year ended June 30, 2023

• The Financial statements have been authorized for the issue for the Board of Directors on October 27, 2023.

Chief Executive

Chief Financial Officer

Director

KARAM CERAMICS LIMITED

INTERIM CONDENSED CASH FLOW STATEMENT

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2023

September September

2023 2022

Rupees Rupees

CASH FLOWS FROM OPERATING ACTIVITIES

profit / (Loss) before taxation

Adjustments for non cash charges and other items

Depreciation

Gain on disposal of property, plant, and equipment

Finance cost

Operating profit before working capital changes

(58,587,892)

20,476,186

-

2,203,799

22,679,985

(35,907,907)

(114,116,764)

21,745,346

(554,841)

8,895,802

30,086,307

(84,030,448)

(increase) / decrease in current asset

Stores and spares

Stock in trade

Trade debts

Loan and advances

short term deposits, prepayments, and other receivables

Increase / (decrease) in current Trade and other payables

Advance from customers

Cash flows generated from operations

Finance cost paid

Income tax paid

Sales tax paid

Gratuity paid

Net cash used in operating activities

(36,807,120)

20,485,680

-

76,000

(10,223,613)

(26,469,052)

35,261,957

33,349,102

68,611,059

6,234,100

(333,362)

(7,435,602)

10,345,351

(2,361,589)

214,798

6,448,898

(1,547,114)

(120,275,886)

(25,762,703)

(92,685)

(1,012,030)

(148,690,419)

59,120,935

-

59,120,935

(173,599,941)

(15,698,437)

(1,650,268)

(9,573,469)

(65,565,062)

(92,487,236)

(266,087,177)

KARAM CERAMICS LIMITED

INTERIM CONDENSED CASH FLOW STATEMENT

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2023

CASH FLOWS FROM INVESTING ACTIVITIES

Addition to property,plant and equipment Capital Work In Process

Proceeds from disposal of property, plant and equipmen

Net cash flows used in investing activities

CASH FLOWS FROM FINANCING ACTIVITIES

September

2023

Rupees

(8,850,000)

(11,397,529)

-

(20,247,529)

September

2022

Rupees

(5,700,000)

-

560,000

(5,140,000)

Long term financing

Short term borrowings

Lease rentals paid

Net cash flows generated from financing activities

Net increase in cash and cash equivalents

Cash and cash equivalents at the beginning of the year

Cash and cash equivalents at the end of the year

-

13,000,000

-

13,000,000

(798,631)

43,733,323

42,934,692

617,170,476

(33,950,342)

(429,605)

582,790,529

311,563,352

(276,097,868)

35,465,484

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

Chief Executive

Chief Financial Officer

Director

KARAM CERAMICS LIMITED

INTERIM CONDENSED STATEMENT OF COMPREHENSIVE INCOME

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2023

Profit / (Loss ) after taxation

Other comprehensive income

Items that will not reclassified to profit or loss in subsequent periods

Remeasurement of retirement Benefit obligation

Deferred tax on retirement benefit obligation

Items in sibsequent periods that may be reclassifled to profit or loss

S E P T E M B E R

2023 2022

R u p e e s R u p e e s

(62,996,364) (111,478,300)

-		-
-		-
-	-

Surplus on revaluation ofland and buildings

Deferred tax on surplusofbuildings

Total comprehensive income /(loss), for the year

-

-

(62,996,364)

-

-

(111,478,300)

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

Chief Executive Chief Fi n a n c i a l O f f i c e r

D i r e c t o r

KARAM CERAMICS LIMITED

INTERIM CONDENSED STATEMENT OF CHANGES IN EQUITY

FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2023 (UNAUDITED)

	Interest free		Surplus on	Remeasurement
S h ar e	U n ap p r o p r iat ed	revaluation of	T o t al
C ap it al	Loan From	Profit	property ,Plant	of retirement
	directors	an d eq u ip men t	benefit
				obligstion

....................................R upees....................................

Balance at July 01,2022	145,486,760
Loss after taxation for the year
ended June 30,2023	-
Subordinated loan from	-
directors
Other comprehensive income
for the year
Surplus on revaluation of land and	-
building-net of deferred tax
Tansferred from surplus on
revaluation of property, plant
and equipment incremental
depreciation for the year -	-
net of deferred tax
Balance as at June 30, 2023
145,486,760
Profit (Loss) after taxation for the	-
quarter ended September 30,2023
Other comprehensive
income for the year
Transferred from surplus on revaluation
ofproperty, plantandequipment
incremental dipreciationfor the year-

-

1,452,734,796

-

-

1,452,734,796

-

(26,426,561)

(474,962,526)

-

23,714,640

-

23,714,640

(477,674,447)

(62,996,364)

421,521,806 2,340,702

- -

- -

(23,714,640)		-
-		-

(23,714,640)

397,807,165 2,340,702

542,922,707

(474,962,526)

1,452,734,796

-

-

1,520,694,977

(62,996,364)

netofdeferredtax	-
Balance as at September 30,2023	145,486,760

-

5,335,794

(5,335,794)

-

-

5,335,794 5,335,794

1,452,734,796 (535,335,017) 392,471,371 2,340,702 1,457,698,613

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

Chief Executive

Chief Financial Officer

Director

A-31,SindhMuslimCo-operativeHousingSociery,Karachi

KARAM CERAMICS LIMITED

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