Safe Mix Concrete : Transmission of Quarterly Report for the Period ended March 31 2023

Concrete Limited

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Nine Months Ended Report March 2023

	Concrete Limited
CONTENTS
Company Information	02
Directors' Report	03
Independent Auditor's Review Report	05
Condensed Interim Statement of Financial Position	06
Condensed Interim Statement of Profit or Loss	07
Condensed Interim Statement of Comprehensive Income	08
Condensed Interim Statement of Changes in Equity	09
Condensed Interim Statement of Cash Flows	10
Notes to the Condensed Interim Financial Statements	11

Nine months ended Report March 2023

01

Company Information

Board of Directors

Mr. Syed Najmudduja Jari - Chairman

Mr. Abdus Samad Habib - Chief Executive Ocer

Mr. Kashif Habib

Mr. Abdul Qadir Sultan

Mr. Ahsan Anis

Mrs. Anna Samad

Mr. Muhammad Siddiq Khokhar

Audit Committee

Mr. Abdul Qadir Sultan - Chairman

Mr. Kashif Habib

Mr. Ahsan Anis

Human Resources & Remuneration Committee

Mr. Kashif Habib - Chairman

Mr. Syed Najmudduja Jaffri

Mr. Abdus Samad Habib

Chief Financial Officer

Mr. Vaqas Rafi

Company Secretary

Mr. Vaqas Rafi

Auditors

Rahman Sarfaraz Rahim Iqbal Rafiq Chartered

Accountants

Legal Advisor

Advocate Ahsan-ul-haq Advocates and Corporate council

Bankers and Financial institutions

Bank Islami Pakistan Limited

Habib Metropolitan Bank Limited

The Bank of Punjab

Bank Alfalah Limited

First Habib Modaraba

Summit Bank Limited

Meezan Bank Limited

Registered Office

Plot # 1, Global Industry,

Nusrat Bhutto Colony, North Nazimbad,

Karachi, Pakistan.

Tel: [phone]

www.safemixlimited.com

Shares Registrar

THK Associates (Private) Limited

02

Safe Mix Concrete Limited

Directors' Review Report

The Board of Directors is pleased to present the un-audited financial results of the Company for the nine months period ended March 31, 2023

Financial Performance

The financial performance of the company during the period under review has been commendable as company achieved highest ever sales of PKR 1,077 million. The sales as compared to corresponding period has increased by a whopping 435%. The gross profit margin also increased significantly by 996% and gross profit for the period is PKR 248 million. The profit after tax for the period is PKR 128 million as compared to PKR 4 million over corresponding period. The profit for the period enabled the accumulated losses of prior year be converted in accumulated profit and as of the period end accumulated profit stands at PKR 5.5 million.

Key financial highlights of your company for the nine months ended March 31st, 2023 as compared to same period last year is as follows:

		July to		January to	July to		January to
Particulars		March		March	March		March
	2023	2023		2022	2022
		----------Rupees----------	----------Rupees----------
Net Revenue	1,077,757,975	420,705,220		201,220,984	88,123,081
Cost Of Revenue	(829,993,764)	(331,464,358)		(178,632,190)	(74,263,889)
Gross Profit/(Loss)	247,764,211	89,240,862		22,588,794	13,859,192
Profit/(Loss) before Taxation	185,641,765	65,423,830		5,174,076	7,364,681
Taxation	(57,593,379)	(15,648,544)		(1,160,701)	(1,101,537)
Profit/(Loss) after Taxation
	128,048,386	49,775,286	4,013,375	6,263,144
Earnings per Share- Basic and Diluted	5.12	1.99		0.16	0.25
Future Outlook

The country's economy has been severely impacted by recent political instability, surging inflation, depleting forex reserves, and increasing policy rates. Despite these challenges, Pakistan has been making eorts to secure support from lending institutions. However, challenges such as currency depreciation, high inflation and interest rates, limited development spending and a slowing economy are expected to continue putting pressure on demand throughout the remaining period of FY23. Furthermore, import restrictions are hindering operations for various industries, including steel manufacturing, which may adversely impact the pace of construction activities.

Nine months ended Report March 2023

03