Roshan Packages : Transmission of quarterly report for period ended September 30,2023

Head Office: 325 G-III, M. A Johar Town, Lahore. Pakistan | [phone]

[e-mail] | www.roshanpackages.com.pk

roshanpackagesltd RoshanPackages.LTD Roshan Packages Limited

CIRCULAR ECONOMY

QUARTERLY REPORT 2024

FOR THE QUARTER ENDED 30 SEPTEMBER 2023

TABLE OF

CONTENTS

Company Information	04
Year at a Glance	06
Unconsolidated Condensed Interim Financial Statements	08
Unconsolidated Directors' Report	10
Directors' Report (Urdu)	13
Condensed Interim Unconsolidated Statement Of Financial	14
Position
Unconsolidated Condensed Interim Statement Of Profit Or Loss	15
Unconsolidated Condensed Interim Statement Of	16
Comprehensive Income
Unconsolidated Condensed Interim Statement of Changes in	17
Equity
Unconsolidated Condensed Interim Statement of Cash Flows	18
Notes to the Condensed Interim Unconsolidated Financial	20
Statements
Consolidated Condensed Interim Financial Statements	30
Consolidated Directors' Report	32
Condensed Interim Consolidated Statement Of Financial	34
Position	35
Condensed Interim Consolidated Statement Of Profit Or Loss
Condensed Interim Consolidated Statement Of Comprehensive	36
Income	37
Condensed Interim Consolidated Statement of Changes in
Equity	38
Condensed Interim Consolidated Statement of Cash Flows
Notes to the Condensed Interim Consolidated Financial	40
Statements

COMPANY INFORMATION

04 Quarterly Report 2024 roshanpackages.com.pk

Status: Public Listed Entity

CUIN: 0044226

NTN: 1436951-6

STRN: 03-01-4819-303-73

Board of Directors

Mr. Quasim Aijaz

Chairman

Mr. Tayyab Aijaz

Chief Executive Officer

Mr. Saadat Eijaz

Executive Director

Mr. Khalid Eijaz Qureshi

Non-Executive Director

Mr. Zaki Aijaz

Non-Executive Director

Ms. Ayesha Musaddaque Hamid

Independent/Non-Executive Director

Mr. Muhammad Naveed Tariq

Independent/Non-Executive Director

Company Secretary

Ms. Rabia Sharif

Chief Financial Officer (CFO)

Mr. Muhammad Adil

Tax Consultant

Zulfiqar Ahmad & Co

Website

www.roshanpackages.com.pk

Banks

Askari Bank Limited

Allied Bank Limited

Bank Alfalah Limited

The Bank of Punjab

Bank Islami Pakistan

Dubai Islamic Bank Limited

Habib Metropolitan Bank

JS Bank Limited

Meezan Bank Limited

Soneri Bank Limited

National Bank of Pakistan

Registered Office

325 G-III, M.A Johar Town, Lahore.

Phone: [phone]

Fax: [phone]

Factory

Corrugation: 7-KM Sunder Raiwind

Road, Opp Gate No 1, Sunder Industrial

Estate.

Flexible: Plot No 141,142 and 142-B Sunder Industrial Estate Lahore.

Share Registrar

CDC Share Registrar Services Limited

CDC House, 99-B, Block B, S.M.C.H.S. Main

Shahra-e-Faisal,Karachi-74400

Statutory Auditor

KPMG Taseer Hadi & Co.

Chartered Accountants

Head of Internal Audit

Mr. Zeeshan Zafar

Stock Symbol

RPL

Quarterly Report 2024

05

roshanpackages.com.pk

GLANCE

RS. IN MILLION

RS. IN MILLION

Q1 2023-24 : 3,111	Q1 2023-24 : 355
Q1 2022-23 : 2,691	Q1 2022-23 : 325
NET REVENUE	GROSS PROFIT

RS. IN MILLION

RS. IN MILLION

Q1 2023-24 : 160	Q1 2023-24 : 107
Q1 2022-23 : 84	Q1 2022-23 : 57
PBT	PAT

06 Quarterly Report 2024 roshanpackages.com.pk

RS. IN MILLION

RS. IN MILLION

Q1 2023-24 : 248	Q1 2023-24 : 299
Q1 2022-23 : 158	Q1 2022-23 : 212
EBIT	EBITDA

RS. PER SHARE

RS. IN MILLION

Q1 2023-24 : 0.75	Q1 2023-24 : 7,422
Q1 2022-23 : 0.40	FY 2022-23 : 7,315
EPS	TOTAL EQUITY

RATIO

RATIO

Q1 2022-23 : 1.61	Q1 2022-23 : 1.24
FY 2022-23 : 1.60	FY 2022-23 : 1.17
CURRENT RATIO	QUICK RATIO

Quarterly Report 2024

07

roshanpackages.com.pk

STATEMENTS

01SECTION

08 Quarterly Report 2024	Quarterly Report 2024	09
roshanpackages.com.pk	roshanpackages.com.pk

The Directors of the Company (RPL) are pleased to present their Directors' Report along with the unaudited Financial Statements of the Company for the period ended September 30, 2023.

The operating results of the Company are summarized as under:

	Quarter Ended	Variance
	30 Sep 2023	30 Sep 2022
	Rupees in '000'	%
Sales	3,111,236	2,691,126	16%
Cost of Sales	(2,755,901)	(2,365,658)	16%
Gross Profit	355,335	325,468	9%
Admin, Selling and Other Expenses	(166,560)	(166,688)	0%
Operating profit	188,775	158,780	19%
Other Income	59,293	29,394	102%
Other Expenses	-	(29,750)	-100%
Financial Charges	(87,987)	(74,513)	18%
Net Profit before tax	160,081	83,911	91%
Taxation	(53,313)	(27,339)	95%
Net profit after tax	106,768	56,572	89%
Earnings per share - Rupee	0.75	0.40	88%

In the quarter ending on September 30, 2023, the Company achieved a substantial revenue growth of 16%, elevating net revenue from Rs 2,691 million to Rs 3,111 million compared to the previous year. The Company achieved a gross profit of Rs 355 million, marking an increase of Rs 30 million compared to the previous period.

The Company has reported a finance cost of Rs. 88 million as compared to Rs. 74 million during the corresponding period last year. This increase can be attributed to the significant rise in the policy rate set by the State Bank of Pakistan. However, efficient management of working capital reduced the impact of increased borrowing rate. The profit before tax reported at Rs. 160 million, compared to Rs. 84 million during the corresponding period last year.

Consequently, the Company achieved a profit after tax of Rs. 107 million, compared to Rs. 57 million during the corresponding period last year.

10 Quarterly Report 2024 roshanpackages.com.pk

EARNINGS PER SHARE

The earnings per share, for the current and previous quarter, are as follows:

EPS-Q12023-24: 0.75/share

EPS-Q12022-23: 0.40/share

FORWARD-LOOKING STATEMENT

Roshan Packages Limited (RPL) is poised to seize upcoming opportunities in light of recent administrative measures taken by the Government of Pakistan. These measures include enhanced controls to combat smuggling and foster a level playing field, in line with our commitment to ethical and transparent operations.

RPL is strategically positioned to benefit from evolving trade dynamics with Afghanistan, offering innovative packaging solutions to cater to emerging markets. As the Fast-Moving Consumer Goods (FMCG) sectors continue to grow in Pakistan, so does the demand for quality packaging solutions. RPL stands ready to meet this demand, having proactively enhanced production capabilities and supply chain strength.

We are committed to delivering sustainable, customer-centric packaging solutions that empower businesses and contribute to Pakistan's economic growth.

ACKNOWLEDGMENT

Thank you for your continued support. Together, we will embark on this journey of growth, resilience, and success.

Quarterly Report 2024

11

roshanpackages.com.pk

Quarter Ended

30 Sep 2023

30 Sep 2022

Rupees in '000'

Variance

%

Sales	3,111,236	2,691,126	16%
Cost of Sales	(2,755,901)	(2,365,658)	16%
Gross Profit	355,335	325,468	9%
Admin, Selling and Other Expenses	(166,560)	(166,688)	0%
Operating profit	188,775	158,780	19%
Other Income	59,293	29,394	102%
Other Expenses	-	(29,750)	-100%
Financial Charges	(87,987)	(74,513)	18%
Net Profit before tax	160,081	83,911	91%
Taxation	(53,313)	(27,339)	95%
Net profit after tax	106,768	56,572	89%
Earnings per share - Rupee	0.75	0.40	88%

12	Quarterly Report 2024	Quarterly Report 2024	13
	roshanpackages.com.pk	roshanpackages.com.pk

ROSHAN PACKAGES LIMITED

CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2023

ROSHAN PACKAGES LIMITED

CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF PROFIT OR LOSS

FOR THE QUARTER ENDED 30 SEPTEMBER 2023

		Sep-23
ASSETS	Note	Rupees
Non-current assets
Property, plant and equipment	5	5,215,786,839
Investment property		211,877,488
Right of use assets		63,456,260
Intangible asset		-
Long term investment		160,618,966
Long-term loans - related parties	6	591,469,070
Long term deposits		22,098,000
Current assets		6,265,306,623
Stores, spares and other consumables	7	409,181,360
Stock-in-trade	8	1,261,138,829
Contract assets		184,900,826
Trade receivables	9	2,720,634,117
Current portion of long term loans - related parties	6	-
Advances, deposits, prepayments and other receivables		417,780,710
T ax refunds due from Government	10	203,721,604
Cash and bank balances	11	389,779,951
TOTAL ASSETS		5,587,137,397
	11,852,444,020
EQUITY AND LIABILITIES
Share capital and reserves
Authorized share capital
200,000,000 (June 2022: 200,000,000) ordinary shares of Rs. 10 each		2,000,000,000
Issued, subscribed and paid up share capital	12	1,419,000,000
Capital reserves
Share premium		1,994,789,057
Surplus on revaluation of property, plant and equipment		2,438,837,744
Revenue reserve		4,433,626,801
Un-appropriated profit		1,569,180,504
TOTAL EQUITY		7,421,807,305
Non-current liabilities
Long term finances - secured		95,414,202
Lease liabilities		11,776,480
Deferred taxation	13	682,181,378
Deferred liabilities		162,944,798
Current liabilities		952,316,858
Current portion of long term liabilities		87,384,908
Short term borrowings - secured	14	1,153,348,074
Trade and other payables	15	2,090,011,566
Contract liabilities		72,710,264
Accrued finance cost		73,086,065
Unclaimed dividend		1,778,980
TOTAL LIABILITIES		3,478,319,857
	4,430,636,715
TOTAL EQUITY AND LIABILITIES		11,852,444,020

Jun-23

Rupees

5,250,571,715

212,371,456

69,479,021

-

160,618,966

560,969,069

21,353,650

6,275,363,877

359,809,467

1,470,327,746

229,846,949

2,388,101,345

-

318,081,252

229,531,741

395,286,878

5,390,985,378

11,666,349,255

2,000,000,000

1,419,000,000

1,994,789,057

2,452,078,970

4,446,868,027

1,449,171,107

7,315,039,134

104,088,219

24,082,903

695,149,994

165,824,008

989,145,124

83,452,639

1,330,525,251

1,820,423,660

55,981,956

69,997,867

1,783,624

3,362,164,997

4,351,310,121

11,666,349,255

		Sep-23	Sep-22
	Note	Rupees	Rupees
Revenue from contracts with customers		3,668,325,952	3,155,647,289
Less: Sales tax		(557,089,905)	(464,521,507)
Net revenue	17	3,111,236,047	2,691,125,782
Cost of revenue	18	(2,755,901,478)	(2,365,657,964)
Gross profit		355,334,569	325,467,818
Administrative expenses		(59,701,677)	(63,538,475)
Selling and distribution expenses		(95,237,785)	(96,696,145)
Other operating expenses		(11,620,067)	(6,453,790)
		(166,559,529)	(166,688,410)
Operating profit		188,775,040	158,779,408
Other income		59,293,047	29,393,926
Other expenses		-	(29,749,803)
Finance cost		(87,986,733)	(74,512,796)
Profit before taxation		160,081,354	83,910,735
T axation	19	(53,313,183)	(27,339,446)
Profit for the period		106,768,171	56,571,289
Earnings per share - Basic and diluted	20	0.75	0.40

The annexed notes, 1 to 26, form an integral part of these condensed interim unconsolidated financial statements.

Chief Executive

Director

Chief Financial Officer

CONTINGENCIES AND COMMITMENTS

16

The annexed notes, 1 to 26, form an integral part of these condensed interim unconsolidated financial statements.

Chief Executive

Director

Chief Financial Officer

14 Quarterly Report 2024 roshanpackages.com.pk

Quarterly Report 2024

15

roshanpackages.com.pk

ROSHAN PACKAGES LIMITED

CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE QUARTER ENDED 30 SEPTEMBER 2023

	Sep-23	Sep-22
Note	Rupees	Rupees
Profit for the period	106,768,171	56,571,289
Other comprehensive income / (loss) - net of tax:
Items that may be reclassified subsequently to profit or loss:	-	-
Items that will not be subsequently reclassified in profit or loss:	-	-
Total comprehensive income for the period	106,768,171	56,571,289

The annexed notes, 1 to 26, form an integral part of these condensed interim unconsolidated financial statements.

Chief Executive

Director

Chief Financial Officer

16 Quarterly Report 2024 roshanpackages.com.pk

ROSHAN PACKAGES LIMITED

CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE QUARTER ENDED 30 SEPTEMBER 2023

Revenue

reserve

Total

Unappropriated

profit

RupeesRupees

1,204,708,319 7,245,419,668

56,571,289 56,571,289

14,255,232-

1,275,534,840 7,301,990,957

1,449,171,107 7,315,039,134

106,768,171 106,768,171

13,241,226-

1,569,180,504 7,421,807,305

Chief Financial Officer

Capital reserves

Surplus on

revaluation

Share

of property, premium plant and

equipment

Rupees Rupees

1,994,789,057 2,626,922,292

--

- (14,255,232)

1,994,789,057 2,612,667,060

1,994,789,057 2,452,078,970

--

- (13,241,226)

1,994,789,057 2,438,837,744

financial statements.

Issued,

subscribed

and paid-up

share capital

Rupees

1,419,000,000

-

-

1,419,000,000

1,419,000,000

-

-

1,419,000,000

unconsolidated

Director

incremental

incremental

condensed interim

Balance as on 01 July 2022

Profit for the period

Surplus transferred to un-appropriated profit on account of

depreciation charged during the period - net of tax

Balance as on 30 September 2022

Balance as on 01 July 2023

Profit for the period

Surplus transferred to un-appropriated profit on account of

depreciation charged during the period - net of tax

Balance as on 30 September 2023

The annexed notes, 1 to 26, form an integral part of these

Chief Executive

Quarterly Report 2024

17

roshanpackages.com.pk