Pakistan Aluminium Beverage Cans : Transmission of Quarterly Report for the Period Ended 30-06-2023

HALF YEARLY REPORT

FOR THE PERIOD ENDED

JUNE 30,2023

CONTENTS

Company Information	4
Directors' Report	5
Independent Auditor's Review Report	7
Condensed Interim Statement of Financial Position	8
Condensed Interim Statement of Profit or Loss	10
Condensed Interim Statement of Other
Comprehensive Income	11
Condensed Interim Statement of Changes in Equity	12
Condensed Interim Statement of Cash Flows	13
Notes to the Condensed Interim Financial Statements	14
	20
Share Trading Detail	22

PAKISTAN ALUMINIUM BEVERAGE CANS LIMITED

HALF YEAR ENDED REPORT JUNE 30, 2023

COMPANY INFORMATION

Board of Directors
• Mr. Simon Michael Gwyn Jennings	Chairman and Non-Executive Director
•	Mr. Azam Sakrani	Chief Executive Officer and Director
• Mr. Asad Shahid Soorty	Non-Executive Director
• Ms. Hamida Salim Mukaty	Non-Executive Director
•	Mr. Salim Parekh	Independent Director
• Mr. Zain Ashraf Mukaty	Non-Executive Director
Audit Committee
•	Mr. Salim Parekh	Acting Chairman
• Mr. Asad Shahid Soorty	Member
• Mr. Zain Ashraf Mukaty	Member
Human Resource and Remuneration Committee
•	Mr. Salim Parekh	Chairman
• Mr. Simon Michael Gwyn Jennings	Member
• Mr. Zain Ashraf Mukaty	Member

Chief Financial Officer

• Mr. Syed Asad Hussain Zaidi

Company Secretary

• Mr. Sohail Akhtar Gogal

Registered Office

• PHA Flat No. 04, Block No. 12, G-8 / 4, Islamabad

Main Office

• 29 & 30, M-3 Industrial City, Main Boulevard, Sahianwala, Faisalabad

Auditors

• Kreston Hyder Bhimji & Co. Chartered Accountants

Legal Advisor

• Mr. Muhammad Mehmood Arif

Share Registrar

• THK Associates (Pvt) Ltd
  Plot No. 32-C, Jami Commercial Street 2, D.H.A Phase VII, Karachi, 75500 Pakistan. Tel: [phone] Email: [e-mail]

Website	PAGE04
• www.pkbevcan.com

PAKISTAN ALUMINIUM BEVERAGE CANS LIMITED

HALF YEAR ENDED REPORT JUNE 30, 2023

DIRECTORS' REPORT

The Directors of the Pakistan Aluminium Beverage Cans Limited (the "Company") are pleased to submit the interim financial statements of your Company for the quarter and half year ended June 30, 2023 duly reviewed by the statutory auditors.

Business Performance Review

Your Company has delivered consistent performance during the period under review (January-June 2023), despite facing economic challenges caused by global and domestic geopolitical factors. Notably, in the half year ending June 30, 2023, our net sales increased by Rs. 4.61 billion, reaching Rs. 11.12 billion, which represents a 70.83% increase compared to the same period last year. The rise in revenue can be attributed to an increase in export volumes besides the devaluation of the currency. Although the overall sales volume has risen, there has been a decline in domestic sales when compared to the same period last year.

As a result of this performance, we achieved an Earnings per Share of Rs. 7.52 for the half year ended June 30, 2023. Furthermore, our gross profit during the period under review was Rs. 4.41 billion, representing a significant increase of 90.02% to the corresponding period last year. Our profit after tax has also witnessed an increase of Rs. 1.14 billion, reaching Rs. 2.71 billion, which represents 72.14% increase from the same period in last year.

Summarized Financial Results
The operating results of the Company are summarized as follows:
		Half Year Ended June 30,
Operating Results	2023	2022	Variance
	(Rs. in Million)	%
Sales -net	11,120	6,510	70.83%
Gross Profit	4,406	2,319	90.02%
Profit before Tax	2,933	1,685	74.09%
Less: Tax Expense	219	108	102.62%
Profit after Tax	2,714	1,577	72.14%
Earnings per share - basic and diluted (Rs.)	7.52	4.37	72.08%

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