EMCO June 30, 2021 v.24

10.
2
Note 17
17.2 Pending Disclosures
17.1
2.5.1 Contract liabilities
2.5.2 14.1
3.3.1 14.2
3.3.2 14.5
3.4.1 16.2
3.4.1.1 16.4
3.4.1.2 16.6
3.4.1.3 Err:509
3.13.1 16.7
3.13.1.1 16.80
3.13.1.2 222 Kanals 18 Marlas
3.13.1.3 - to suppliers
3.13.1.4 At June 30, 2021, if Pakistani Rupee had weakened / stre
3.13.1.5 The aging of trade receivables as at the reporting date da
3.13.2 Rating
3.13.2.1 Owing to its working capital needs, the Company has utili
3.13.2.2 silk bank to be excluded
3.13.2.3 current assets
3.13.3 Less: Late delivery charges / liquidity damages
459,322,504
0
0
14.1
14.1 & 14.2 client 16.6
17.1.1
7
8 client The aging of trade receivables as at the reporting date da
8
20.1.1
20.2.1 document nature and working
0
0
0
0
0
0
0
0
8.6
At June 30, 2021, if Pakistani Rupee had weakened / strengthen by 1% against the US dollars with all other variable
0
0
0
0
Note 47
0
0
0 This should also be transfer from stores
0 change from long to short term
0
0
-568459
206429
0
0
0
Depreciation on property, plant and equipment, except freehold land, is charged to profit or loss on straight line meth
459322504
0
0
151 rewording This represents a term finance facility under the refinance
55826113 ? - The employees who are the members of the fund, will be
6.15 update Short-term running finance and local bill discounting facili
222 Kanals 18 Marlas update The unutilized portion in respect of above funded facilities
8 update The main facilities for opening letters of credit and guaran
3.5 variance? 4546961
375.249708 client Related party transactions
- client 14.1
0 client 0
check guarantee and lc figures with confirmations - askari

FBL one additional bank confirmed
Pages to replace
Page 35 of 46
Page 40 of 46
Page 41 of 46
upee had weakened / strengthen by 1% against the US dollars with all other variables held constant, pre-tax profit for the year would have
as at the reporting date date is as follows:
ds, the Company has utilized funds of the Provident Fund (the Fund). Except for the this, the investments of the provident fund have been
uidity damages
as at the reporting date date is as follows:
llars with all other variables held constant, pre-tax profit for the year would have been lower / higher by Rs. 0.05 million (2020: Rs. 1.57 mill
r loss on straight line method with the exception of tools and equipment, furniture and fixture, office equipment and vehicles, whose depreci
acility under the refinance scheme for payment of wages and salaries (RFWS Scheme) to the workers and employees for an amount up to
embers of the fund, will be inducted in a new gratuity scheme of the Company with effect from the effective date.
local bill discounting facilities available from various commercial banks under mark-up arrangements amount to Rs. 301 million (2020: Rs. 2
t of above funded facilities mentioned in note 14.1 & 14.2 amounts to Rs. 49.22 million (2020: Rs. 122.94 million).
etters of credit and guarantees aggregate to Rs. 826.01 million (2020: Rs. 578.42 million). The amount utilized as at June 30, 2021, for lette
profit for the year would have been lower / higher by Rs. 0.05 million (2020: Rs. 1.57 million), mainly as a result of foreign exchange losses
the provident fund have been made in accordance with the provisions of section 218 of the Companies Act, 2017 and the rules formulated f
05 million (2020: Rs. 1.57 million), mainly as a result of foreign exchange losses / gains on translation of US dollar-denominated financial a
t and vehicles, whose depreciation is charged profit or loss on diminishing balance method so as to write off the cost or revalued amount o
mployees for an amount up to the equivalent of Rs. 60 million. The facility is sanctioned to finance wages and salaries of permanent, contra
to Rs. 301 million (2020: Rs. 231 million) towards the working capital requirement. Rates of mark-up range from 1 month KIBOR + 1% to 3
d as at June 30, 2021, for letters of credit was Rs. 177.19 million (2020: Rs. 55.56 million) and for letters of guarantee was Rs. 375.25 millio
ult of foreign exchange losses / gains on translation of US dollar-denominated financial assets and liabilities.
017 and the rules formulated for this purpose.
dollar-denominated financial assets and liabilities.

the cost or revalued amount of an asset over its estimated useful life. Incremental depreciation representing the difference between actual d
d salaries of permanent, contractual, daily wagers as well as outsourced employees. It carries markup @ 3% (2020: 3 months KIBOR plus 1
om 1 month KIBOR + 1% to 3 months KIBOR + 2% (2020: from 1 month KIBOR + 1% to 3 months KIBOR + 2%) per annum on the balanc
uarantee was Rs. 375.25 million (2020: Rs. 332.89 million). The amounts unavailed as at the reporting date amount to Rs. 273.57 million (2
he difference between actual depreciation based on revalued carrying amount of the asset and equivalent depreciation based on the origin
(2020: 3 months KIBOR plus 1% per annum). These loans are secured by Joint Pari Passu charge on fixed assets.
2%) per annum on the balance outstanding. Aggregate short term finances are secured by first joint pari passu charge and ranking charge
mount to Rs. 273.57 million (2020: Rs. 189.97 million). The aggregate facilities for opening letters of credit and letters of guarantee are secu
preciation based on the original carrying amount of the asset is transferred to accumulated profit / loss from surplus on revaluation of prope
su charge and ranking charge on present and future current assets, ranking charge over the Company's present and future fixed assets, lie
d letters of guarantee are secured by charge on present and future fixed assets of the Company, ranking charge on current assets of the C
urplus on revaluation of property, plant and equipment. All transfers to / from surplus on revaluation of property, plant and equipment are ne
ent and future fixed assets, lien over sale documents, personal guarantees, subordination of sponsor's loan. One of the banks, Faysal Ban
arge on current assets of the Company, lien over import documents, personal guarantees, subordination of sponsors' loan and counter guar
rty, plant and equipment are net of applicable deferred income taxes.
One of the banks, Faysal Bank Limited, is also secured by mortgage over properties of certain directors and over commercial properties ow
onsors' loan and counter guarantees of the Company. Mortgage over properties of certain directors is registered in favor of Faysal Bank Lim
over commercial properties owned by Associated Engineering (Private) Limited, an associated company.
red in favor of Faysal Bank Limited and Silk Bank Limited only and mortgage over commercial properties owned by Associated Engineering
ned by Associated Engineering (Private) Limited, an associated company is registered in favour of Faysal Bank Limited.
pending workings:
incremental working revise on straight line basis; currentl
discounting of recoverable from employees
0 discounting of discontinued provident fund
EMCO Industries Limited ("the Company") was icash flow
10.2 Any office in Karachi?
Note 17
3.4
17.2
17.1
206429
151
175
89
This represents outstanding balance of employer contribution payable to non-workmen employees on term
Commitments 5%??
8
0
0
0
14
0
0
3973357
755159
11620926
0
Gratuity
0.0841
At June 30, 2021, if Pakistani Rupee had weakened / strengthen by 1% against the US dollars with all oth
0
A207251001 Breakup
66,863,719
0
ok Note 43
Note 44
-
14.1
14.2
14.5
Claim receivable
0
3
8.6
Revise working of 10-C bonus
Directors, executives and
revise valuation of inventories because cost of sales have changed now
-32893769
-74023595
-65235975
0 check if there is overdue portion of NBP
-208188734
Err:509
-42357132
222 Kanals 18 Marlas
Note 45
7
47218583 average nai sai
0
0
Markup on short term borrowing
-25329856
This represents unsecured, interest free loans to meet the liquidity requirements of the Company. These
Fees and subscription
12.2
0 check name
3.22
650,646,917
Liquidity risk r check basis of relationship; whether associate or common directorship?
0
Err:509
Err:509
Foreign - (Unsecured - considered good)
5644389 check with client
Note 16 whether waqaei secured?
16.11
traight line basis; currently booking on reducing balance mode
employees
orkmen employees on termination of provident fund scheme with effect from December 31, 2002. The outstanding balance of employer con
the US dollars with all other variables held constant, pre-tax profit for the year would have been lower / higher by Rs. 0.05 million (2020: Rs
s of the Company. These loans are repayable at the discretion of the Company and are sub-ordinated to facilities obtained from various fina
nding balance of employer contribution payable includes both, principal and interest portions. Interest is being charged on the principal porti
r by Rs. 0.05 million (2020: Rs. 1.57 million), mainly as a result of foreign exchange losses / gains on translation of US dollar-denominated
ties obtained from various financial institutions.
charged on the principal portion @ 5% (2020: 5%) per annum.
ion of US dollar-denominated financial assets and liabilities.

400,000,000 400,000,000 -
-
-
350,000,000 350,000,000 -
308,350,435 308,010,529 339,906
115,708,828 115,708,828 -
1,302,397,360 ### -
-
2,076,456,623 ### 339,906
-
-
131,293,475 131,293,475 -
60,807 60,807 -
2,197,970 2,197,970 -
73,930,900 73,930,900 -
116,367,221 116,327,104 40,117
- - -
719,584 719,584 -
-
324,569,957 324,529,840 40,117
-
-
296,397,571 296,397,571 -
243,677 243,677 -
23,147,424 23,147,424 -
650,646,917 650,646,917 -
79,485,815 79,485,815 -
-
1,049,921,404 ### -
-
-
- - -
-
3,450,947,984 ### 380,023
-
-
-
-
-
1,887,889,951 ### -
76,180,763 76,180,763 -
1,403,669 1,403,669 -
39,308,596 39,308,596 -
546,030 546,030 -
3,751,900 3,751,900 -
-
2,009,080,909 ### -
-
-
84,461,760 84,461,760 -
593,848,315 593,848,315 -
572,242,210 572,242,210 -
67,747,515 67,747,515 -
82,941,418 82,941,418 -
40,625,857 40,625,857 -
-
1,441,867,075 ### -
-
-
3,450,947,984 ### -
2,035,456,797 2,035,456,797 - 724,957,865
(1,549,956,475) (1,550,296,381) 339,906 313,030,606
- 195,034,844
485,500,322 485,160,416 339,906 59,282,554
- 40,703,406
(87,119,407) (87,119,407) - 70,738,248
(32,572,668) (32,572,668) - 2,849,033
- 4,269,473
(119,692,075) (119,692,075) - 1,546,789
- 3,226,869
365,808,247 365,468,341 339,906 2,962,536
- 1,871,424
(25,612,990) (25,612,990) - 806,321
33,171,224 33,171,224 - 650,053
(87,521,909) (87,521,909) - 96,899,628
- 1,518,829,649
285,844,572 285,504,666 339,906
- 69,305,970
(78,558,179) (78,558,179) - (85,445,820)
- (16,139,850)
207,286,393 206,946,487 339,906 1,502,689,799
5.92 5.91 252,998,539

(205,731,863)
47,266,676
1,549,956,475
724,957,865 -
313,030,606 -
195,034,844 -
59,282,554 -
40,703,406 -
70,738,248 -
2,849,033 -
4,517,940 (248,467)
1,546,789 -
3,226,869 -
2,962,536 -
1,871,424 -
806,321 -
61,680 588,373
96,899,628 -
1,518,489,743 339,906
-
69,305,970 -
(85,445,820) -
(16,139,850) -
1,502,349,893 339,906
-
252,998,539 -
(205,731,863) -
47,266,676 -
1,549,616,569 339,906
Page 1 of 46
EMCO INDUSTRIES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT JUNE 30, 2021
2021 2020
Note Rupees Rupees
EQUITY AND LIABILITIES
Share Capital and Reserves
Authorized share capital

40,000,000 (2020: 40,000,000) ordinary shares of Rs. 10 each 400,000,000 400,000,000
Issued, subscribed and paid up capital

35,000,000 (2020: 35,000,000) ordinary shares of Rs. 10 each 4 350,000,000 350,000,000
Reserves 5 302,992,139 81,732,464
Sponsors' loan 6 115,708,828 115,708,828
Surplus on revaluation of property, plant and equipment 7 1,302,397,360 926,135,400
2,071,098,327 1,473,576,692
Non Current Liabilities
Long term financing 8 131,293,475 213,797,385

Deferred income - government grant 60,807 -
Lease liabilities 9 2,197,970 4,799,669
Deferred liabilities 10 73,930,900 64,031,075
Deferred tax liability 11 116,662,040 23,628,740
Long term security deposit 719,584 -
324,864,776 306,256,869
Current Liabilities
Trade and other payables 12 326,561,575 272,258,522

Unclaimed dividends 243,677 243,677
Accrued finance cost 13 23,147,424 26,626,525
Short term borrowings 14 650,646,917 547,187,306
Current portion of non-current liabilities 15 79,485,815 65,011,707
1,080,085,408 911,327,737
Contingencies and Commitments 16 - -
3,476,048,511 2,691,161,298
ASSETS
Non Current Assets
Property, plant and equipment 17 1,887,889,951 1,362,665,573

Investment properties 18 76,180,763 -
Intangible assets 19 1,403,667 1,682,417
Long term prepayments and other receivables 20 39,308,596 46,803,001
Long term loans 21 546,030 730,120
Long term deposits 3,751,900 3,751,900
2,009,080,907 1,415,633,011
Current Assets
Stores, spares and loose tools 22 84,461,760 80,613,844

Stock in trade 23 594,151,738 610,421,620
Trade receivables 24 593,083,410 366,066,725
Advances, deposits, prepayments and other receivables 25 70,687,658 83,381,045
Income tax refundable from the Government 83,957,181 91,095,096
Cash and bank balances 26 40,625,857 43,949,957
1,466,967,604 1,275,528,287
3,476,048,511 2,691,161,298
The annexed notes from 1 to 47 form an integral part of these financial statements.
CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER
Page 2 of 46

STATEMENT OF PROFIT OR LOSS ACCOUNT
FOR THE YEAR ENDED JUNE 30, 2021
2021 2020
Note Rupees Rupees
Revenue 27 2,035,456,797 1,598,032,861

Cost of revenue 28 (1,549,957,546) (1,218,460,167)
Gross Profit 485,499,251 379,572,694
Administrative expenses 29 (87,383,452) (78,744,789)

Selling and distribution expenses 30 (32,307,553) (30,876,341)
(119,691,005) (109,621,130)
Operating Profit 365,808,246 269,951,564
Other operating expenses 31 (31,925,727) (14,924,431)

Other income 32 33,404,722 5,429,419
Finance cost 33 (87,521,909) (97,378,233)
Profit before Taxation 279,765,332 163,078,319
Taxation 34 (77,837,235) (45,179,356)
Net Profit for the Year 201,928,097 117,898,963
Earnings per Share - Basic and Diluted 35 5.77 3.37

Page 3 of 46

STATEMENT OF COMPREHENSIVE INCOME
2021 2020
Note Rupees Rupees
Net Profit for the Year 201,928,097 117,898,963
Other comprehensive income
Items that will not be reclassified to profit or loss
Actuarial (losses) / gains due to experience adjustments 10.2.1 (220,824) 791,483

Related tax impact 11.1 62,790 (222,828)
Revaluation surplus on property, plant and

equipment - net 7 459,322,504 191,552,505
Related tax impact 11.1 (62,131,130) (2,524,640)
Items that may be reclassified to profit or loss - -
Other comprehensive income - net of tax 397,033,340 189,596,520
Total Comprehensive Income for the Year 598,961,437 307,495,483

Page 4 of 46

STATEMENT OF CHANGES IN EQUITY
Reserves
Capital Revenue Surplus on
Issued,
Accumulated Revaluation of
Particulars Subscribed and Sponsors' Loan Total
Share Premium (Loss) / Total Reserves Property, Plant
Paid up Capital General Reserve
Reserve Unappropriated and Equipment
Profit
Rupees Rupees Rupees Rupees Rupees Rupees Rupees Rupees
Balance as at June 30, 2019 350,000,000 39,898,526 90,000,000 (187,639,602) (57,741,076) 115,708,828 757,853,611 1,165,821,363
Net profit for the year - - - 117,898,963 117,898,963 - - 117,898,963
Other comprehensive income for the year - - - 568,655 568,655 - 189,027,865 189,596,520
Incremental depreciation for the year on surplus

on revaluation of property, plant and equipment-net - - - 21,005,922 21,005,922 - (21,005,922) -
Effect of change in effective tax rate - - - - - - 259,846 259,846
Balance as at June 30, 2020 350,000,000 39,898,526 90,000,000 (48,166,062) 81,732,464 115,708,828 926,135,400 1,473,576,692
Net profit for the year - - - 201,928,097 201,928,097 - - 201,928,097
Other comprehensive income for the year - - - (158,034) (158,034) - 397,191,374 397,033,340
Incremental depreciation for the year on surplus on

revaluation of property, plant and equipment - net - - - 19,489,612 19,489,612 - (19,489,612) -
Effect of change in effective tax rate - - - - - - (1,439,802) (1,439,802)
Balance as at June 30, 2021 350,000,000 39,898,526 90,000,000 173,093,613 302,992,139 115,708,828 1,302,397,360 2,071,098,327

Page 5 of 46

STATEMENT OF CASH FLOWS
2021 2020
Note Rupees Rupees
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Generated from Operations 36 287,173,417 326,102,759
Changes in:
Long term prepayments and other receivables 3,885,091 4,586,847

Long term security deposit 719,584 -
4,604,675 4,586,847
Finance cost paid (69,967,338) (83,240,883)

Gratuity paid (2,273,782) (4,311,565)
Payments against discontinued provident fund (4,961,553) (1,070,403)
Workers' Profit Participation Fund paid (9,360,652) (7,033,260)
Income tax paid / withheld (41,174,159) (35,799,771)
(127,737,484) (131,455,882)
Net Cash Generated from Operating Activities 164,040,608 199,233,724
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment (36,653,874) (77,143,634)

Capital work in progress (138,867,557) (377,302)
Investment properties (16,760,683) -
Recoveries of long term loans - net 192,330 733,380
Rental income 8,639,238 -
Proceeds from disposal of assets held for sale - 23,419,000
Proceeds from disposal of property, plant and equipment 750,000 -
Net Cash Used in Investing Activities (182,700,546) (53,368,556)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of long term financing (103,698,392) (79,092,329)

Repayment of lease liabilities (3,570,941) -
Proceeds from long term financing 19,145,560 39,150,480
Short term borrowings obtained / (repaid) - net 103,459,611 (67,246,699)
Net Cash Generated from / (Used in) Financing Activities 37 15,335,838 (107,188,548)
Net (Decrease) / Increase in Cash and Cash Equivalents (3,324,100) 38,676,620
Cash and cash equivalents at the beginning of the year 43,949,957 5,273,337
Cash and Cash Equivalents at the End of the Year 40,625,857 43,949,957

Page 6 of 46

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS
Note 1
The Company and its Operations
EMCO Industries Limited ("the Company") was incorporated as a Joint Stock Company in Pakistan under the repealed
Companies Act, 1913, (now the Companies Act, 2017) on August 17, 1954 by the name of Electric Equipment
Manufacturing Company (Private) Limited. Later, it was converted into a public company on August 20, 1983 and its name
was changed to EMCO Industries Limited on September 12, 1983. The Company was listed on the stock exchange on
December 29, 1983. The Company is domiciled in Pakistan.
The Company is principally engaged in the manufacture and sale of high / low tension electrical porcelain insulators and
switchgear.
The geographical location and address of Company including mills/plant is as under:
Business unit Geographical location

Head / Registered office 4th Floor, National Tower, 28 Egerton Road, Lahore.
Factory 19-KM, Lahore Sheikhupura Road, Lahore.
Note 2
Basis for Preparation
2.1 Statement of compliance
These financial statements have been prepared in accordance with the accounting and reporting standards as
applicable in Pakistan. The accounting and reporting standards applicable in Pakistan comprise of:
- International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board
(IASB) as notified under the Companies Act, 2017;
- Islamic Financial Accounting Standards (IFAS) issued by the Institute of Chartered Accountants of Pakistan as
are notified under the Companies Act, 2017; and
- Provisions of and directives issued under the Companies Act, 2017
Where provisions of and directives issued under the Companies Act, 2017 differ from the IFRS, the provisions of
and directives issued under the Companies Act, 2017 have been followed.
The financial statements provide comparative information in respect of the previous year. In addition, the
Company presents an additional statement of financial position at the beginning of the preceding period when
there is a retrospective application of an accounting policy, a retrospective restatement, or a reclassification of
items in financial statements.
2.2 Basis of measurement
These financial statements have been prepared under the historical cost convention except to the extent of the
following:
a) Employee retirement benefits (Gratuity) - Note 10.2
The Company uses the valuation performed by an independent actuary to determine the present value of its
retirement benefit obligations.
b) Certain property, plant and equipment - Note 17
The Company is using the revaluation model for certain property, plant and equipment. Revaluation is performed
by an independent valuer periodically.
c) Deferred markup, interest free loans from related parties and provident fund loan
The Company is carrying deferred / frozen markup on certain bank borrowings, interest free loans from related
parties and provident fund loan at amortized cost.
EMCO INDUSTRIES LIMITED Page 7 of 46
Notes to and Forming Part of the Financial Statements
Note 2, Basis of Preparation - Continued…
2.3 Functional and presentation currency
These financial statements are prepared and presented in Pak Rupees (PKR or Rupee) which is the Company's
functional and presentation currency. All the figures have been rounded off to the nearest rupee, unless
otherwise stated.
2.4 Use of estimates and judgments
The preparation of financial statements in conformity with IFRSs requires management to make judgments,
estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities,
income and expenses. These estimates and related assumptions are based on historical experience and various
other factors that are believed to be reasonable under the circumstances, the result of which form the basis of
making judgments about carrying values of assets and liabilities that are not readily apparent from other sources.
Actual results may differ from these estimates.
These estimates and related assumptions are reviewed on an on going basis. Accounting estimates are revised in
the period in which such revisions are made. Significant management estimates in these financial statements
relate primarily to:
- Useful lives, residual values, depreciation method and fair value of property, plant and equipment – Note 3.5 &
17
- Fair value of investment property - Note 3.7 & 18
- Useful lives, residual values and amortization method of intangible assets – Note 3.8 & 19
- Provision for impairment of inventories - Note 3.11, 3.12, 22 & 23
- Impairment loss of non-financial assets other than inventories – Note 3.9 & 17
- Provision for expected credit losses – Note 3.13.1.5, 24 & 25
- Obligation of defined benefit obligation - Note 3.2 & 10
- Estimation of provisions - Note 3.1 & 12
Estimation of contingent liabilities - Note 3.19 & 16
- Current income tax expense, provision for current tax and recognition of deferred tax asset (for carried forward
tax losses) - Note 3.3, 11 & 34
However, the management believes that the change in outcome of estimates would not have a material effect on
the amounts disclosed in these financial statements.
Note 2, Basis of Preparation - Continued…
2.5 Changes in accounting standards, interpretations and pronouncements
2.5.1 Standards, interpretations and amendments to approved accounting standards that are effective in the
current year
There are certain standards, amendments and interpretations to the accounting and reporting standards which are
mandatory for accounting periods beginning on or after July 1, 2020. These are considered not to be relevant or to have any
significant effect on the Company's operations (although they may affect the accounting for future transactions and events)
and are, therefore, not detailed in these financial statements.
2.5.2 Standards, interpretation and amendments to approved accounting standards that are not yet effective
There are certain standards, amendments and interpretations to the accounting and reporting standards which are
mandatory for companies having accounting periods beginning on or after July 1, 2021 but are considered not to be relevant
or to have any significant effect on the Company's operations and are, therefore, not detailed in these financial statements,
except for the following:
Effective Date -
Annual Periods
Beginning on or
After
January 1, 2022
IAS 1 Presentation of Financial Statements [Amendments] & January 1,
2023
IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors [Amendments] January 1, 2023
IAS 12 Income Taxes [Amendments] January 1, 2023
IAS 16 Property, Plant and Equipment [Amendments] January 1, 2022
IAS 37 Provisions, Contingent Liabilities and Contingent Assets [Amendments] January 1, 2022
Annual Improvements to IFRS Standards 2018–2020 January 1, 2022
The Company has assessed that the impact of these amendments is not expected to be significant.
Note 3
Significant Accounting Policies
The significant accounting policies adopted in the preparation of these financial statements are set out below. These policies have been
consistently applied to all the periods presented except otherwise stated.
3.1 Provisions
Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events and it
is probable that an outflow of resources shall be required to settle the obligation and the amount has been reliably
estimated. Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate.
3.2 Employee retirement benefits
Defined benefit plan
The Company operates an unfunded gratuity scheme for its employees. The unfunded gratuity scheme is a defined benefit
final salary plan. The cost of providing benefits under the defined benefit plan is determined using the projected unit credit
actuarial valuation method, which is carried out by an independent actuary.
The gratuity fund is governed under the Trusts Act, 1882, Trust Deed and Rules of Fund, Companies Act, 2017, the Income
Tax Ordinance, 2001 and the Income Tax Rules, 2002. Responsibility for governance of plan, including investment decisions
and contribution schedule lie with Board of Trustees of the Fund.
Retirement benefits are payable to staff on resignation, retirement or termination from service, subject to the completion of
prescribed qualifying period of service under these schemes.
3.3 Taxation
Income tax comprises current and deferred tax. Income tax is recognized in the statement of profit or loss account except to
the extent that relates to items recognized directly in equity or other comprehensive income, in which case it is recognized in
equity or other comprehensive income.
Income tax comprises current and deferred tax. Income tax is recognized in the statement of profit or loss account except to
the extent that relates to items recognized directly in equity or other comprehensive income, in which case it is recognized in
equity or other comprehensive income.

Note 3, Significant Accounting Policies - Continued…
3.3.1 Current
Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be
recovered from or paid to the taxation authorities, using the tax rates and tax laws that have been enacted or substantively
enacted by the end of the reporting date.
The charge for current tax is higher of corporate tax (higher of tax based on taxable income and minimum tax) and
alternative corporate tax.
Corporate tax is based on taxable income for the year determined in accordance with the prevailing laws of taxation. The
charge for current tax is calculated using prevailing tax rates or tax rates expected to apply to the profit for the year if
enacted after taking into account tax credits, rebates and exemptions, if any. The charge for current tax also includes
adjustments, where considered necessary, to provision for tax made in previous years arising from assessments framed
during the year for such years. However, in case of loss for the year, income tax expense is recognized as minimum tax
liability on turnover of the Company in accordance with the provisions of the Income Tax Ordinance, 2001.
Alternative corporate tax is calculated at 17% of accounting profit, after taking into account the required adjustments.
Current tax for current and prior periods, to the extent unpaid, is recognized as a liability. If the amount already paid in
respect of current and prior periods exceeds the amount due for those periods, the excess is recognized as an asset.
The Company offsets current tax assets and current tax liabilities if, and only if, the entity has a legally enforceable right to
set off the recognized amounts and intends either to settle on a net basis, or to realize the asset and settle the liability
simultaneously.
Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax
regulations are subject to interpretation and establishes provisions where appropriate.
3.3.2 Deferred
Deferred tax is accounted for using the balance sheet liability method in respect of all temporary timing differences arising
from the difference between the carrying amount of the assets and liabilities in the financial statements and the
corresponding tax bases used in the computation of taxable profit. However, deferred tax is not accounted for if it arises
from initial recognition of an asset or liability in a transaction other than a business combination that at the time of
transaction neither affects accounting nor taxable profit or loss.
Deferred tax liabilities are recognized for all major taxable temporary differences.
Deferred tax assets are recognized for all major deductible temporary differences to the extent that it is probable that
taxable profit will be available against which deductible temporary differences, unused tax losses and tax credits can be
utilized.
The carrying amount of deferred tax asset is reviewed at each reporting date and reduced to the extent that it is no longer
probable that sufficient taxable profits will be available to allow all or part of the deferred tax asset to be utilized.
Unrecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent of probable future
taxable profit available that will allow deferred tax asset to be recovered.
Deferred tax is calculated at rates that are expected to apply to the period when the differences reverse based on the tax
rates and tax laws that have been enacted or have been notified for subsequent enactment by the reporting date.
When different tax rates apply to different levels of taxable income, deferred tax assets and liabilities are measured using
the average rates that are expected to apply to the taxable profit (tax loss) of the periods in which temporary differences are
expected to reverse.
The Company offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off
current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes
levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to
settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each
future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.
3.4 Leases
For contracts entered into, or modified, on or after January 1, 2019; the Company assesses whether a contract contains a
lease or not at the inception of a contract. The Company reassesses whether a contract is, or contains, a lease further when
the terms and conditions of the contract are modified.
The Company determines the lease term as the non-cancellable period of a lease, together with both periods covered by an
option to extend the lease if the Company is reasonably certain to exercise that option and periods covered by an option to
terminate the lease if the Company is reasonably certain to not to exercise that option.
The Company reassesses whether it is reasonably certain to exercise an extension option, or not to exercise a termination
option, upon the occurrence of either a significant event or a significant change in circumstances that is within the control of
the Company and affects whether the Company is reasonably certain to exercise an option not previously included in its
determination of the lease term, or not to exercise an option previously included in the determination of the lease term.
The Company revises the lease term if there is a change in the non-cancellable period of a lease.
3.4.1 Company as a lessee
3.4.1.1 Recognition
The Company recognizes a right-of-use asset and a lease liability at the commencement date. A commencement date is the
date on which the lessor makes an underlying asset available for use by the lessee (the Company).
The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases of all underlying
assets that have a lease term of 12 months or less and leases for which the underlying asset, when new, is of low-value as
per the threshold set by the Company. The Company recognizes the lease payments associated with these leases as an
expense on straight-line basis over the lease term.
3.4.1.2 Initial measurement
Lease liability
At the commencement date, the Company measures the lease liability at the present value of the lease payments that are
not paid. The lease payments are discounted using the interest rate implicit in the lease, or the Company's incremental
borrowing rate if the implicit rate is not readily available. Generally, the Company uses its incremental borrowing rate as the
discount rate.
Lease payments comprise fixed payments less any lease incentives receivable; variable lease payments that depend on an
index or a rate; amounts expected to be payable by the Company under residual value guarantees; the exercise price of a
purchase option if the Company is reasonably certain to exercise that option; and payments of penalties for terminating the
lease, if the lease term reflects the Company exercising an option to terminate the lease.
Right-of-use asset
The Company initially measures the right-of-use asset at cost. This cost comprises the amount of lease liability as initially
measured, plus any lease payments made on or before the commencement date, less lease incentives received, initial direct
costs and estimated terminal costs (i.e. dismantling or other site restoration costs required by the terms and conditions of
the lease contract).
3.4.1.3 Subsequent measurement
Lease liability
After the commencement date, the Company re-measures the lease liability to reflect the affect of interest on outstanding
lease liability, lease payments made, reassessments and lease modifications etc. Variable lease payments not included in the
measurement of the lease liability and interest on lease liability are recognized in the statement of profit or loss account,
unless these are included in the carrying amount of another asset.
Lease payments are apportioned between the finance charges and reduction of the lease liability using the incremental
borrowing rate implicit in the lease to achieve a constant rate of interest on the remaining balance of the liability.
Lease liability payable in foreign currency is translated to local currency of the Company i.e. PKR at the reporting date. Any
foreign exchange differences arising on translation of lease liability are recognized in profit or loss.

Right-of-use asset
After the commencement date, the Company measures the right-of-use asset at cost less accumulated depreciation and
accumulated identified impairment losses, if any, adjusted for any remeasurement of the lease liability.
The Company depreciates the cost of right-of-use asset, net of residual value, from the commencement date to the earlier of
the end of the useful life of the right-of-use asset or the end of the lease term. However, if the lease contract transfers
ownership of the underlying asset to the Company by the end of the lease term or if the cost of the right-of-use asset
reflects that the Company will exercise the purchase option, the Company depreciates the right-of-use asset from the
commencement date to the end of the useful life of the underlying asset.
Depreciation is charged to profit or loss account at rates given in note 17.2.
3.5 Property, plant and equipment
Property, plant and equipment, except freehold land, buildings thereon and plant and machinery, are stated at cost less
accumulated depreciation and any identified impairment loss. Freehold land is stated at revalued amount less any identified
impairment loss while buildings on freehold land and plant and machinery are stated at revalued amount less accumulated
depreciation and any accumulated impairment loss. Revaluation is carried out with sufficient regularity to ensure that the
carrying amount of assets does not differ materially from their fair value. Additions, subsequent to revaluation, are stated at
cost less accumulated depreciation and any identified impairment loss.
The cost of an item of property, plant and equipment comprises its purchase price and any directly attributable costs of
bringing the asset to its working condition and location for its intended use. Cost in relation to certain assets may also
includes cost of borrowing during construction period in respect of loans taken for specific projects.
Depreciation on property, plant and equipment, except freehold land, is charged to profit or loss on straight line method with
the exception of tools and equipment, furniture and fixture, office equipment and vehicles, whose depreciation is charged
profit or loss on diminishing balance method so as to write off the cost or revalued amount of an asset over its estimated
useful life. Incremental depreciation representing the difference between actual depreciation based on revalued carrying
amount of the asset and equivalent depreciation based on the original carrying amount of the asset is transferred to
accumulated profit / loss from surplus on revaluation of property, plant and equipment. All transfers to / from surplus on
revaluation of property, plant and equipment are net of applicable deferred income taxes.
Depreciation on additions is charged from the month in which the assets are available for use while no depreciation is
charged in the month in which the assets are disposed off. Rates of depreciation are disclosed in Note 17.1.
Depreciation method, residual value and useful lives of assets are reviewed at least at each reporting date and adjusted if
impact on depreciation is significant.
Day to day maintenance and normal repairs are charged to income as and when incurred. Gains or losses on disposal of
property, plant and equipment are included in profit or loss.
Increases in the carrying amounts arising due to revaluation are credited to revaluation surplus on property, plant and
equipment through other comprehensive income. Decreases that offset previous increases of any other property, plant and
equipment of the Company are debited against revaluation surplus directly in equity. All other decreases are charged to the
statement of profit or loss account.
3.6 Capital work-in-progress
Capital work-in-progress is stated at cost less identified impairment loss, if any, and represents expenditure incurred on
property, plant and equipment during construction and installation. All expenditure connected with specific assets incurred
during installation and construction period are carried under capital work-in-progress. Cost may also include applicable
borrowing costs. Transfers are made to relevant property, plant and equipment category as and when the assets are
available for use.
3.7 Investment Properties
Investment property, which is property held to earn rentals and/or for capital appreciation, including property under
construction for such purposes, is measured initially at its cost, including transaction costs.
Subsequent to initial recognition, investment property is measured at fair value. The changes in fair value are recognized in
Subsequent to initial recognition, investment property is measured at fair value. The changes in fair value are recognized in
the statement of profit or loss account. Any other investment property (whose fair value cannot be measured reliably) is
measured at cost less accumulated depreciation and any impairment loss.

The fair value of investment property is determined at the end of each year using current market prices for comparable real
estate, adjusted for any differences in nature, location and condition.
The useful lives, residual values and depreciation method are reviewed on a regular basis. The effect of any changes in
estimate is accounted for on a prospective basis. Further, determining adjustments for any differences in nature, location
and condition of the investment property involves significant judgment.
3.8 Intangible assets
An intangible asset is recognized as an asset if it is probable that future economic benefits attributable to the asset will flow
to the Company and the cost of such asset can be measured reliably. Cost of intangible assets i.e. ERP software includes
purchase cost and directly attributable expenses incidental to bring the software to its intended use.
Costs that are directly associated with identifiable software and have probable economic benefits beyond one year, are
recognized as an intangible asset. However, costs associated with the maintenance of software are recognized as an
expense.
All intangibles are measured initially at cost and subsequently stated at cost less accumulated amortization and identified
impairment losses, if any. Amortization is charged to income using the straight line method so as to write off the cost of an
asset over its estimated useful life. The amortization period and the amortization method for intangible assets are reviewed,
at each reporting date, and adjusted if impact on amortization is significant. ERP software is being amortized over 10 years
based on estimated useful life.
3.9 Impairment of non-financial assets
Assets that have an indefinite useful life - for example, goodwill or intangible assets not ready to use - are not subject to
amortization and are tested annually for impairment. Assets that are subject to depreciation or amortization are reviewed for
impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An
impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount.
Impairment losses on fixed assets that offset available revaluation surplus are charged against this surplus, all other
impairment losses are charged to profit or loss. The recoverable amount is the higher of an asset’s fair value less costs of
disposal and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there
are separately identifiable cash flows (cash-generating units). Prior impairments of non-financial assets (other than goodwill)
are reviewed for possible reversal at each reporting date. Where impairment loss is recognized, the depreciation /
amortization charge is adjusted in future periods to allocate the asset's revised carrying amount, less its residual value, over
its remaining useful life.
3.10 Borrowing costs
General and specific borrowing costs directly attributable to the acquisition, construction or production of qualifying assets,
which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to
the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment
income earned on temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted
from the borrowing costs eligible for capitalization. All other borrowing costs are charged to profit or loss account in the
period in which they are incurred.
3.11 Stores, spares and loose tools
Stores and spares are valued at weighted average cost except for items in transit, while items considered obsolete are
carried at nil value. Items in transit are valued at cost comprising invoice value plus other charges paid thereon. Provision is
made for obsolete and slow moving stores and spares based on management estimate.
3.12 Stock-in-trade
Raw materials, packing material and components, except for those in transit, are valued at the lower of weighted average
cost and net realizable value. Work-in-process and finished goods are valued at the lower of average cost and net realizable
value. Work-in-process and finished goods comprise cost of direct materials, labor and appropriate manufacturing
overheads. Cost of goods purchased for resale comprises invoice value plus charges paid thereon.
Materials in transit are stated at cost comprising invoice value plus other charges paid thereon.
Net realizable value signifies the estimated selling price in the ordinary course of business less costs necessary to be incurred
in order to make a sale. If the net realizable value is lower than the carrying amount, a write-down is recognized for the
amount by which the carrying amount exceeds its net realizable value. Provision is made in the financial statements for
obsolete and slow moving stock in trade based on management estimate.

3.13 Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity
instrument of another entity.
3.13.1 Financial assets
All financial assets are recognized at the time when the Company becomes a party to the contractual provisions of the
instrument. Regular purchases and sales of financial assets are recognized and derecognized, as applicable, using trade-date
accounting or settlement date accounting.
3.13.1.1 Classification
The Company classifies its financial assets in the following categories: at amortized cost, at fair value through other
comprehensive income and at fair value through profit or loss. The classification is based on the Company's business model
for managing the financial assets and the contractual cash flow characteristics of the financial asset. The management
determines the classification of its financial assets at the time of initial recognition.
a) Financial assets at amortized cost
A financial asset is measured at amortized cost if the financial asset is held within a business model whose objective is to
hold financial assets in order to collect contractual cash flows and the contractual terms of the financial asset give rise on
specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.
b) Financial assets at fair value through other comprehensive income
A financial asset is measured at fair value through other comprehensive income if the financial asset is held within a business
model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual
terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the
principal amount outstanding.
c) Financial assets at fair value through profit or loss
A financial asset is measured at fair value through profit or loss unless it is measured at amortized cost or at fair value
through other comprehensive income. However, the Company can make an irrevocable election at initial recognition for
particular investments in equity instruments that would otherwise be measured at fair value through profit or loss to present
subsequent changes in fair value in other comprehensive income unless these are held for trading in which case these have
to be measured at fair value through profit or loss. The equity investments of the Company held in short term investments
are classified at fair value through profit or loss because they are frequently traded.
3.13.1.2 Initial recognition and measurement
All financial assets are recognized at the time when the Company becomes a party to the contractual provisions of the
instrument. Regular purchases and sales of investments are recognized on trade-date – the date on which the Company
commits to purchase or sell the asset.
Except for trade receivables, financial assets are initially recognized at fair value plus transaction costs for all financial assets
not carried at fair value through profit or loss. Financial assets carried at fair value through profit or loss are initially
recognized at fair value and transaction costs are expensed in the profit and loss account. Dividend income from financial
assets at fair value through profit or loss is recognized in the profit and loss account when the Company's right to receive
payments is established. Trade receivables are initially measured at the transaction price if these do not contain a significant
financing component in accordance with IFRS 15. Where the Company uses settlement date accounting for an asset that is
subsequently measured at amortized cost, the asset is recognized initially at its fair value on the trade debt.
For the purpose of measuring financial assets after initial recognition, these are classified into the following categories:
- financial assets at amortized cost;
- financial assets at fair value through other comprehensive income; and
- financial assets at fair value through profit or loss.
Financial assets carried at amortized cost are subsequently measured using the effective interest method. Gain or loss on
financial assets not part of hedging relationship is recognized in profit or loss when the financial asset is derecognized,
reclassified, through the amortization process or in order to recognize impairment gains or losses.
When the contractual cash flows of a financial asset are renegotiated or otherwise modified and the renegotiation or
modification does not result in the derecognition of that financial asset, the Company recalculates the gross carrying amount
of the financial asset and recognizes a modification gain or loss in profit or loss.
Financial assets ‘at fair value through other comprehensive income’ are marked to market using the closing market rates and
are carried in the statement of financial position at fair value. Net gains and losses arising on changes in fair values of these
financial assets are recognized in other comprehensive income. Interest calculated using the effective interest rate method is
credited to the statement of profit or loss account. Dividends on equity instruments are credited to the statement of profit or
lossaccount when the Company’s right to receive payments is established.
Financial assets ‘at fair value through profit or loss’ are marked to market using the closing market rates and are carried in
the balance sheet at fair value. Net gains and losses arising on changes in fair values of these financial assets are taken to
the profit and loss account in the period in which these arise.
Fair values of quoted investments are based on current prices. If the market for a financial asset is not active (and for
unlisted securities), the Company measures the investments at cost less impairment in value, if any.
3.13.1.4 Derecognition
Financial assets are derecognized when:
- the contractual rights to receive cash flows from the assets have expired; or
- the Company has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the
received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either:
a) the Company has transferred substantially all the risks and rewards of the asset; or
b) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has
transferred control of the asset.
The difference between the carrying amount and the consideration received is recognized in profit or loss.
If the Company transfers a financial asset in a transfer that qualifies for derecognition in its entirety and retains the right to
service the financial asset for a fee, it recognizes either a servicing asset or a servicing liability for that servicing contract.
When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through
arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither
transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the
Company continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Company
also recognizes an associated liability which cannot be offset with the related asset. The transferred asset and the associated
liability are measured on a basis that reflects the rights and obligations that the Company has retained.
Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the
Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the
original carrying amount of the asset and the maximum amount of consideration that the Company could be required to
repay.

If the Company's continuing involvement is in only a part of a financial asset, the Company allocates the previous carrying
amount of the financial asset between the part it continues to recognize under continuing involvement, and the part it no
longer recognizes on the basis of the relative fair values of those parts on the date of the transfer. The difference between
the carrying amount allocated to the part that is no longer recognized and the consideration received for the part no longer
recognized is recognized in profit or loss.
3.13.1.5 Impairment of financial assets
The Company directly reduces the gross carrying amount of a financial asset when the Company has no reasonable
expectations of recovering a financial asset in its entirety or a portion thereof.
The Company recognizes a loss allowance for expected credit losses on a financial asset measured at amortized cost and
through other comprehensive income, a lease receivable, a contract asset or a loan commitment and a financial guarantee
contract. In case of financial assets measured at fair value through other comprehensive income, loss allowance is
recognized in other comprehensive income and carrying amount of the financial asset in the statement of financial position is
not reduced.
The Company measures, at each reporting date, the loss allowance for a financial instrument at an amount equal to the
lifetime expected credit losses if the credit risk on that financial instrument has increased significantly since initial
recognition. Where the credit risk on a financial instrument has not increased significantly since the initial recognition, the
Company measures the loss allowance for that financial instrument at an amount equal to 12-month expected credit losses.
The Company always measures the loss allowance at an amount equal to lifetime expected credit losses for trade receivables
or contract assets that result from transactions under IFRS 15 and lease receivables.
The Company uses a provision matrix to calculate ECLs for trade receivables and contract assets. The provision rates are
based on days past due for groupings of various customer segments that have similar loss patterns.
The provision matrix is initially based on the Company’s historical observed default rates. The Company will calibrate the
matrix to adjust the historical credit loss experience with forward-looking information. For instance, if forecast economic
conditions (i.e., gross domestic product) are expected to deteriorate over the next year which can lead to an increased
number of defaults in the manufacturing sector, the historical default rates are adjusted. At every reporting date, the
historical observed default rates are updated and changes in the forward-looking estimates are analysed.
The assessment of the correlation between historical observed default rates, forecast economic conditions and ECLs is a
significant estimate. The amount of ECLs is sensitive to changes in circumstances and of forecast economic conditions. The
Company’s historical credit loss experience and forecast of economic conditions may also not be representative of customer’s
actual default in the future.
The Company recognizes the amount of expected credit losses (or reversal), that is required to adjust the loss allowance at
the reporting date to the amount that is required to be recognized, in the profit or loss.
The gross carrying amount of a financial asset is written off when the Company has no reasonable expectations of
recovering a financial asset in its entirety or a portion thereof.
3.13.2 Financial liabilities
3.13.2.1 Initial recognition and measurement
All financial liabilities are recognized at the time when the Company becomes a party to the contractual provisions of the
instrument.
Financial liabilities are classified, at initial recognition, as financial liabilities at amortized cost except for financial liabilities at
fair value through profit or loss, financial liabilities that arise when a transfer of a financial asset does not qualify for
derecognition or when the continuing involvement approach applies, financial guarantee contracts, commitments to provide
a loan at a below-market interest rate and contingent consideration recognized in a business combination.
The Company does not reclassify any of its financial liabilities.
Financial liabilities are initially recognized at fair value minus transaction costs for all financial liabilities not carried at fair
value through profit or loss. Financial liabilities carried at fair value through profit or loss are initially recognized at fair value
and transaction costs are credited in the profit and loss account.

The measurement of financial liabilities depends on their classification, as described below:
Financial liabilities at fair value through profit or loss
Such liabilities, including derivatives that are liabilities, are subsequently measured at fair value.
Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities
designated upon initial recognition as at fair value through profit or loss.
Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This
category also includes derivative financial instruments entered into by the Company that are not designated as hedging
instruments in hedge relationships. Separated embedded derivatives are also classified as held for trading unless they are
designated as effective hedging instruments.
The amount of change in the fair value that is attributable to changes in the credit risk of financial liability is presented in
other comprehensive income and the remaining amount of change in the fair value of the liability is presented in profit or
loss.
Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of
recognition, and only if it eliminates or significantly reduces a measurement or recognition inconsistency or a group of
financial liabilities is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk
management or investment strategy, and information about the group is provided internally on that basis to the Company's
key management personnel. The Company has not designated any financial liability as at fair value through profit or loss.
All other liabilities
All other financial liabilities are measured at amortized cost using the Effective Interest Rate (EIR) method. Gains and losses
are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process.
Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an
integral part of the EIR. The EIR amortization is included as finance costs in the statement of profit or loss account.
3.13.2.3 Derecognition
A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expired. Where an
existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an
existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original
liability and the recognition of a new liability, and the difference in respective carrying amounts is recognized in the profit
and loss account. The difference between the carrying amount of a financial liability extinguished or transferred to another
party and the consideration paid, including any non-cash assets transferred or liabilities assumed, is recognized in profit or
loss account.
3.13.3 Offsetting of financial assets and liabilities
Financial assets and liabilities are offset and net amount is reported in the financial statements only when there is a legally
enforceable right to set off the recognized amount and the Company intends either to settle on a net basis or to realize the
assets and settle the liabilities simultaneously.
3.14 Balances from contract with customers
Contract assets
A contract asset is the right to consideration in exchange for goods or services transferred to the customer. The Company
recognizes a contract asset for the earned consideration that is conditional if the Company performs by transferring goods or
services to a customer before the customer pays consideration or before payment is due.
Trade receivables
A receivable represents the Company's right to an amount of consideration that is unconditional. Trade receivables are
carried at original invoice amount less expected credit loss based on a review of all outstanding amounts at the year end.
Bad debts are written off when identified.

Contract liabilities
A contract liability is the obligation to transfer goods or services to a customer for which the Company has received
consideration from the customer. A contract liability is recognized at earlier of when the payment is made or the payment is
due if a customer pays consideration before the Company transfers goods or services to the customer.
Right of return assets
Right of return asset represents the Company’s right to recover the goods expected to be returned by customers. The asset
is measured at the former carrying amount of the inventory, less any expected costs to recover the goods, including any
potential decreases in the value of the returned goods. The Company updates the measurement of the asset recorded for
any revisions to its expected level of returns, as well as any additional decreases in the value of the returned products.
Refund liabilities
A refund liability is the obligation to refund some or all of the consideration received (or receivable) from the customer and is
measured at the amount the Company ultimately expects it will have to return to the customer. The Company updates its
estimates of refund liabilities (and the corresponding change in the transaction price) at the end of each reporting period.
3.15 Government grants
Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be
received and the Company will comply with all attached conditions.
Government grants relating to costs are deferred and recognised in the profit or loss over the period necessary to match
them with the costs that they are intended to compensate. Government grants relating to the purchase of property, plant
and equipment are included in noncurrent liabilities as deferred income and are credited to profit or loss on a straight-line
basis over the expected lives of the related assets.
3.16 Cash and cash equivalents
For the purpose of the statement of cash flows, cash and cash equivalents consist of cash in hand and cash at banks.
3.17 Foreign currency transactions and translation
All monetary assets and liabilities in foreign currencies are translated into Pak rupees at exchange rates prevailing at the
reporting date. Transactions in foreign currencies are translated into Pak rupees at exchange rates prevailing at the date of
transaction. Exchange gains and losses are included in the statement of profit or loss account.
3.18 Revenue recognition
Revenue is recognized in accordance by applying the following steps:

i) Identify the contract with a customer
ii) Identify the performance obligation in the contract
iii) Determine the transaction price of the contract
iv) Allocate the transaction price to each of the separate performance obligations in the contract
v) Recognize the revenue when (or as) the entity satisfies a performance obligation
Revenue is recognized at a point in time, when the Company satisfies performance obligations by transferring the promised
goods to its customers. Revenue from contracts with customers is recognised when control of the goods or services are
transferred to the customer at an amount that reflects the consideration to which the Company expects to be entitled in
exchange for those goods or services. The normal credit term is 30 to 90 days upon delivery. Control is transferred to the
customer on dispatch of goods and transaction price is fixed and decided mostly through tendering process. In determining
the transaction price for the sale of goods, the Company considers the effects of variable consideration, the existence of
transferred to the customer at an amount that reflects the consideration to which the Company expects to be entitled in
exchange for those goods or services. The normal credit term is 30 to 90 days upon delivery. Control is transferred to the
customer on dispatch of goods and transaction price is fixed and decided mostly through tendering process. In determining
the transaction price for the sale of goods, the Company considers the effects of variable consideration, the existence of
significant financing components, noncash consideration, and consideration payable to the customer (if any).
3.19 Contingent liabilities
Contingent liability is disclosed when there is a possible obligation that arises from past events and whose existence will be
confirmed only by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of
the Company.

A contingent liability is also disclosed when there is present obligation that arises from past events but it is not probable that
an outflow of resources embodying economic benefits will be required to settle the obligation or the amount of the obligation
cannot be measured with sufficient reliability.
3.20 Dividend and other appropriations
Dividend to the shareholders is recognized in the period in which it is declared and other appropriations are recognized in the
period in which these are approved by the Board of Directors.
3.21 Earnings per Share
The Company presents basic and diluted earnings per share (EPS). Basis EPS is calculated by dividing the profit or loss
attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares outstanding during
the year. Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders and the weighted
average number of ordinary shares outstanding for the effects of all dilutive potential ordinary shares, if any.
3.22 Related party transactions
Related parties comprise the parent Company, associated companies / undertakings, directors of the Company and their
close relatives and key management personnel of the Company. The Company in the normal course of business carries out
transactions with various related parties. Amounts due from and due to related parties are shown under respective notes to
these financial statements. Following are the key related parties of the Company:
% of Holding in
Name of Related party Basis of Relationship
the Company
Mr. Tariq Rehman Director / CEO 0.379%

Mr. Suhail Mannan Director 6.239%
Mr. Javaid Shafiq Director 6.861%
Mr. Pervaiz Shafiq Siddiqi Director 6.861%
Mr. Usman Haq Director 5.228%
Mr. Salem Rehman Director 3.429%
Mr. Ahsan Suhail Mannan Director 6.391%
Mr. Awais Noorani Director 0.059%
Ch. Imran Ali Director 0.001%
Syed Muhammad Mohsin Director 0.001%
Ms. Ayesha Mussadaque Hamid Director 0.001%
Directors' close family members Directors' close family members 28.167%
Associated Engineers (Private) Limited Common Directorship 5.745%
ICC (Private) Limited Common Directorship 8.410%
The Imperial Electric Company (Private)
Limited Common Directorship 1.662%
Note 4
Issued, Subscribed and Paid up Capital
2021 2020 2021 2020
No. of shares Rupees Rupees
18,570,460 18,570,460 Ordinary shares of Rs. 10 each fully paid in cash 185,704,600 185,704,600
2,800,000 2,800,000 Ordinary shares of Rs. 10 each issued as fully 28,000,000 28,000,000
paid bonus shares
13,629,540 13,629,540 Ordinary shares of Rs. 10 each issued as 136,295,400 136,295,400

right shares
35,000,000 35,000,000 350,000,000 350,000,000
4.1 There has been no movement in ordinary share capital during the year ended June 30, 2021.
4.2 Ordinary shares of the Company held by its associated companies as at the reporting date are as follows:
2021 2020
(Number of Shares)
Associated Engineers (Private) Limited 2,010,575 2,010,575

ICC (Private) Limited 2,943,411 2,943,411
The Imperial Electric Company (Private) Limited 581,549 581,549
5,535,535 5,535,535
4.3 All ordinary shares rank equally with regard to residual assets of the Company. Ordinary shareholders are entitled to
receive all distributions including dividends and other entitlements in the form of bonus and right shares as and when
declared by the Company. Voting and other rights are in proportion to the shareholding.
4.4 The terms of agreement between the Company and certain lenders impose certain restrictions on distribution of
dividends by the Company.
Note 5
Reserves
2021 2020
Note Rupees Rupees
Capital - share premium 5.1 39,898,526 39,898,526

Revenue - general reserve 90,000,000 90,000,000
Accumulated profit / (loss) 173,093,613 (48,166,062)
302,992,139 81,732,464
5.1 This reserve can be utilized by the Company only for the purposes specified in Section 81(2) of the Companies Act,
2017.
Note 6
Sponsors' Loan
This represents unsecured, interest free loans to meet the liquidity requirements of the Company. These loans are repayable at
the discretion of the Company and are sub-ordinated to facilities obtained from various financial institutions.
Note 7
Surplus on Revaluation of Property, Plant and Equipment
2021 2020
Rupees Rupees
Land - Freehold:
Opening balance 542,838,745 360,253,745
Revaluation surplus arisen during the year 240,816,359 182,585,000
783,655,104 542,838,745
Buildings on freehold land:
Opening balance 178,855,927 230,850,681
Revaluation surplus / (deficit) arisen during the year-net 144,622,823 (54,126,680)
Related deferred taxation (41,122,777) 15,238,392
282,355,973 191,962,393
Plant and machinery:
Opening balance 204,440,728 166,749,185
Revaluation surplus arisen during the year-net 73,883,322 63,094,185
Related deferred taxation (21,008,353) (17,763,032)
257,315,697 212,080,338
Effect of change in tax rates (1,439,802) 259,846
Incremental depreciation charged on revalued property, plant and equipment

in current year-net of deferred tax (transferred to retained earnings) (19,489,612) (21,005,922)
1,302,397,360 926,135,400
7.1 This represents surplus over book value resulting from the revaluation of freehold land, buildings on freehold land and
plant and machinery, adjusted by incremental depreciation arising on revaluation of the above-mentioned assets except
freehold land. Latest revaluation was carried out by an independent valuer on June 30, 2021 using current market price
/ replacement cost methods, wherever applicable for the respective assets. This resulted in additional revaluation
surplus of Rs. 459.323 million.
7.2 The revaluation surplus relating to the above-mentioned property, plant and equipment excluding freehold land is net
of applicable deferred income taxes. Incremental depreciation charged on revalued property, plant and equipment has
been transferred to the statement of changes in equity to record realization of surplus to the extent of incremental
depreciation. Incremental depreciation represents the difference between actual depreciation based on revalued
carrying amount of the asset and equivalent depreciation based on the original carrying amount of the asset.
7.3 The surplus on revaluation of property, plant and equipment is not available for distribution to the shareholders in
accordance with section 241 of the Companies Act, 2017.
Note 8
Long Term Financing
2021 ### 2020
Note Rupees Rupees
Banking companies - secured
National Bank of Pakistan 8.1 24,280,812 46,720,813

Discounting / unwinding of discount 8.2 (169,290) (625,551)
24,111,522 46,095,262
Standard Chartered Bank (Pakistan) Limited 8.3 41,526,113 60,760,494

Discounting / unwinding of discount 8.2 (2,754,695) (6,554,709)
38,771,418 54,205,785
Habib Bank Limited 8.4 40,722,030 35,150,480

Less: Impact of deferred income - Government Grant 8.4 (1,360,445) -
39,361,585 35,150,480
102,244,525 135,451,527
Associated companies / related parties - unsecured
Associated Engineers (Private) Limited 8.5 27,335,447 27,335,447

24,952,485 24,246,449
EMCO Industries Limited Provident Fund 8.6 100,529,818 148,979,818

75,732,390 113,561,932
The Imperial Electric Company (Private) Limited 8.7 2,615,692 2,615,692

Discounting / unwinding of discount 8.2 (228,022) (295,582)
2,387,670 2,320,110
205,317,070 275,580,018
Less: current portion
Banking companies (74,023,595) (56,802,815)
Associated companies / related parties - (4,979,818)
15 (74,023,595) (61,782,633)
131,293,475 213,797,385
8.1 This represents long term financing (Demand Finance - I and Demand Finance II) created during the year ended June
30, 2017 by restructuring short term borrowings obtained from National Bank of Pakistan and accrued / unpaid markup
thereon effective from March 30, 2017.
Repayment schedule was further revised in July 2018. Under the latest rescheduling terms, remaining loan will be
repaid in 48 equal monthly installments of DF-I of Rs. 1.442 million and DF-II of Rs. 0.428 million each. These loans
are secured by Joint Pari Passu charge on fixed assets along with the personal guarantees of certain directors of the
Company. This loan will be fully repaid by June 30, 2022.
8.2 In accordance with the requirements of IFRS 9, amortization and unwinding have been carried out and the relevant
difference is charged to the statement of profit or loss account.
8.3 The loan was restructured during the year ended June 30, 2013 and further restructured during the year ended June
30, 2015. It carries markup @ 3 months KIBOR per annum. Under the restructured agreement the outstanding
principal of Rs. 109 million is repayable by way of quarterly staggered installments over the period of 5 years. The
outstanding markup payable and markup accrued after restructured agreement shall be paid after the principal amount
has been fully repaid. Deferred markup as at the reporting date is Rs. 41.526 million (2020: Rs. 55.826 million). These
loans are secured by Joint Pari Passu charge on fixed assets and Joint Pari Passu charge on current assets along with
the personal guarantees of certain directors of the Company. This loan will be fully repaid by February 28, 2023.
t
t
o
t
h Page 22 of 46
e of the Financial Statements
Notes to and Forming Part
y
e
a
r
Note 8, Long Term Financing, Cont…
e
8.4 This representsn a term finance facility under the refinance scheme for payment of wages and salaries (RFWS Scheme)
to the workersdand employees for an amount up to the equivalent of Rs. 60 million. The facility is sanctioned to finance
wages and salaries
, of permanent, contractual, daily wagers as well as outsourced employees. It carries markup @ 3%
(2020: 3 months KIBOR plus 1% per annum). These loans are secured by Joint Pari Passu charge on fixed assets.
t
h
e
Impact of deferred income represents deferred grant recognized in line with Guideline issued by the Institute of
Chartered Accountants of Pakistan "Accounting considerations for lenders and borrowers under the State Bank of
G
Pakistan introduced Refinance Scheme for Payment of Wages and Salaries to the Workers and Employees of Business
Concerns." r
o
u
8.5 This representsp unsecured interest free loan obtain from associated company. The terms of repayment have yet not
been formalized; however, this loan is not repayable within next 12 months.
c
8.6 This representso loan obtained from EMCO Industries Limited Provident Fund on July 01, 2000. Owing to liquidity issues,
m rescheduled a number of times. Latest rescheduling of the loan was carried out on March 06, 2018
this loan has been
by the Trusteesp of the fund whereby the Company decided to discontinue the contributions to the provident fund and
to discontinue lthe charging of markup on loan obtained from the fund on the basis of the following covenants:
e
t
e
- Amount of loan
d to be repaid through monthly installments of Rs. 2.0 million till complete settlement of the loan. This
loan is due to mature on July 31, 2027.
t
- The payment h will represent the principal repayment and no markup will be charged on the outstanding principal
amount. i
s
- The employees who are the members of the fund, will be inducted in a new gratuity scheme of the Company with
w
effect from the effective date.
o
r
8.7 This represents
k unsecured interest free loan obtain from associated company. The terms of repayment have yet not
been formalized; however, this loan is not repayable within next 12 months.
a
Note 9 n
Lease Liabilities d
2021 ### 2020
r
Note Rupees Rupees
e
c
Opening balance o 8,028,743 -
g year
Add: Additions during the 316,940 7,945,787
Add: Interest expense n 33 870,256 82,956
i
Less: Payments made (3,570,941) -
s
Gross liability e 5,644,998 8,028,743
Less: Current portion d 15 (3,447,028) (3,229,074)
Closing balance 2,197,970 4,799,669
t
h
9.1 Summary of amounts relating to leases charged in different line items of the financial statements is as follows:
e
a 2021 ### 2020

m Included in Note Rupees Rupees
o
u
n of ROU assets Statement of
Carrying amount 17.2 5,284,759 7,725,071
t financial position
o to short-term leases Administrative

Expense relating 29 - 1,716,551
f expenses
Selling and
R to short-term leases
Expense relating distribution 30 - 93,727
s expenses
.
Administrative
Depreciation charge 29 2,757,252 220,716
expenses
Interest expense Finance cost 33 870,256 82,956

Note 9, Lease Liabilities, Cont…
9.2 Maturity analysis of contractually undiscounted cash flows
Between Two Later than Five

At June 30, 2021 Within One Year
to Five Years Years
--------------(Rupees)--------------
3,306,228 3,030,709 -
9.3 Nature of leasing activities
The Company's leases comprise space taken from a related party for office operations. Periodic rentals are fixed over
the lease term. These neither contain any variable lease payments nor any lease incentives. The Company is not
committed to any lease not yet commenced as at the reporting date.
Remaining lease term of existing lease contract is 2 years for which lease liability is recorded.
Note 10
Deferred Liabilities
2021 2020
Note Rupees Rupees
Payable to employees against discontinued provident fund 10.1 - 4,632,632

Staff gratuity - unfunded 10.2 73,930,900 59,398,443
73,930,900 64,031,075
10.1 This represents outstanding balance of employer contribution payable to non-workmen employees on termination of
provident fund scheme with effect from December 31, 2002. The outstanding balance of employer contribution payable
includes both, principal and interest portions. Interest is being charged on the principal portion @ 5% (2020: 5%) per
annum.
10.2 Staff gratuity - unfunded
Latest actuarial valuation of the gratuity scheme was conducted as on June 30, 2021. Results of actuarial valuation are
as under:
10.2.1 Movement in net liability for staff gratuity
Opening balance 59,398,443 53,106,698

Benefit due but not paid at the beginning of the year 4,658,884 -
Charge for the year - statement of profit or loss account 10.2.2 16,349,442 16,053,677
Actuarial losses / (gains) due to experience adjustments 220,824 (791,483)
Payments made during the year (2,273,782) (4,311,565)
Benefits due but not paid (4,422,911) (4,658,884)
Closing balance 73,930,900 59,398,443
10.2.2 Charge for the year
The amounts recognized in the statement of profit or loss account against defined benefit scheme are as follows:
Current service cost 11,095,284 10,089,816

Interest cost 5,254,158 5,963,861
16,349,442 16,053,677
Note 10, Deferred liabilities cont…..
10.2.3 Actuarial assumptions 2021 2020
Discount rate - per annum 10.25% 9.00%

Expected rate of increase in salary level - per annum 9.25% 8.00%
Average expected remaining working lives of employees 9 Years 9 Years
Average duration of liability 9 Years 8 Years
Expected mortality rate for active employees SLIC (2001-2005) Mortality Table
Actuarial valuation method Projected Unit Credit Method
10.2.4 The Company does not have any plan assets covering its post-employment benefits payable. The comparative
statement of present value of defined benefit obligations is as under:
2021 2020 2019 2018 2017

Rupees Rupees Rupees Rupees Rupees
Present value of defined

benefit obligation 73,930,900 65,690,188 53,106,698 40,931,971 33,479,360
Fair value of plan asset - - - - -
Net liability 73,930,900 65,690,188 53,106,698 40,931,971 33,479,360
10.2.5 Estimated charge for the year 2021-2022 Rupees
Current and past service cost 11,933,971

Interest cost 7,577,917
19,511,888
10.2.6 Year end sensitivity analysis on defined benefit obligation
Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other
assumptions constant, would have resulted in present value of defined benefit obligation as stated below:
Rupees
Discount rate + 1% 67,079,533

Discount rate - 1% 81,924,156
Salary increase + 1% 81,924,156
Salary increase - 1% 66,962,420
10.2.7 The charge for the year has been allocated as follows:
2021 2020
Note Rupees Rupees
Cost of revenue 28 11,620,926 11,094,009

Administrative expenses 29 3,973,357 4,168,927
Selling and distribution expenses 30 755,159 790,741
16,349,442 16,053,677
Note 11
Deferred Taxation
2021 2020
Rupees Rupees
Credit / (debit) balances arising in respect of timing differences relating to:
Taxable temporary differences

- Accelerated tax depreciation and amortization 25,380,624 16,024,914
- Revaluation of property, plant and equipment 201,160,474 144,098,949
226,541,098 160,123,863
Deductible temporary differences
- Provision for doubtful debts (30,552,558) (28,498,165)
- Provision for obsolete stores and spares (622,462) (616,294)
- Provision for obsolete stock (5,287,079) (4,425,412)
- Provision for staff gratuity (21,022,251) (16,722,562)
- Unused tax losses / tax credits (42,622,952) (79,199,575)
- Others (9,771,756) (7,033,115)
(109,879,058) (136,495,123)
116,662,040 23,628,740
11.1 Reconciliation of deferred tax liabilities / (assets), net
Opening balance 23,628,740 (27,349,030)

Effect of change in tax rates on revaluation surplus 1,439,802 (259,846)
Recognized in statement of profit or loss account 29,525,158 16,171,674
Recognized in statement of comprehensive income (62,790) 222,828
Charged to revaluation surplus through other comprehensive income 62,131,130 2,524,640
Adjustment with provision for tax payable against minimum tax credit availed - 32,318,474
Closing balance 116,662,040 23,628,740
Note 12
Trade and Other Payables
2021 2020
Note Rupees Rupees
Trade creditors 12.1 172,289,876 135,928,481

Accrued liabilities 56,355,895 47,837,326
Employee retirement benefit funds 1,768,463 2,440,506
Contract liabilities 12.2 45,030,368 35,376,182
Sales tax payable 15,622,785 28,986,815
Withholding tax payable 3,902,604 2,082,982
Workers' (profit) participation fund 12.3 15,081,149 8,805,292
Workers' welfare fund 12.4 16,510,435 10,800,938
326,561,575 272,258,522
12.1 Trade creditors include Rs. 239,749 (2020: Rs. 21,119) due to related parties.
12.2 Contract liabilities amounting to Rs. 45.03 million are expected to be satisfied during year ending June 30, 2022.
12.3 Workers' (Profit) Participation Fund
Balance at the beginning of the year 8,805,292 7,036,777

Expense recognised during the year 31 15,055,567 8,801,775
Interest on workers' (profit) participation fund 580,942 -
24,441,801 15,838,552
Payments made during the year (9,360,652) (7,033,260)
Closing balance 15,081,149 8,805,292
12.4 Workers' welfare fund
Balance at the beginning of the year 10,800,938 6,645,525

Expense recognised during the year 31 5,709,497 4,155,413
16,510,435 10,800,938
Payments made during the year - -
Closing balance 16,510,435 10,800,938
Note 13
Accrued Finance Cost
2021 2020
Rupees Rupees
Accrued finance cost on:
- Long term financing from banking companies 1,858,686 1,948,976
- Long term financing from associated companies / related parties 8,734,867 8,734,867
- Short term borrowings from banking companies 8,479,491 6,698,802
- Short term borrowings from associated companies / related parties 4,074,380 9,243,880
23,147,424 26,626,525
Note 14
Short Term Borrowings
2021 2020
Note Rupees Rupees
Interest bearing
Banking companies - secured 14.1 & 14.2 440,571,173 298,629,081
Related parties - unsecured:
- Associated company - ICC (Private) Limited 14.3 155,750,000 155,750,000
596,321,173
### 454,379,081
Interest free
- Directors and close relatives thereof 14.4 54,325,744 92,808,225
650,646,917 547,187,306
14.1 Short-term running finance and local bill discounting facilities available from various commercial banks under mark-up
arrangements amount to Rs. 301 million (2020: Rs. 231 million) towards the working capital requirement. Rates of
mark-up range from 1 month KIBOR + 1% to 3 months KIBOR + 2% (2020: from 1 month KIBOR + 1% to 3 months
KIBOR + 2%) per annum on the balance outstanding. Aggregate short term finances are secured by first joint pari
passu charge and ranking charge on present and future current assets, ranking charge over the Company's present and
future fixed assets, lien over sale documents, personal guarantees, subordination of sponsor's loan. One of the banks,
Faysal Bank Limited, is also secured by mortgage over properties of certain directors and over commercial properties
owned by Associated Engineering (Private) Limited, an associated company.
14.2 Export and import finances available from various commercial banks under mark-up arrangements amount to Rs. 188.79
million (2020: Rs. 190.57 million). The rates of mark-up range from 1 month KIBOR + 1% to 6 months KIBOR plus 2%
(2020: from 1 month KIBOR to 6 months KIBOR plus 2%). The aggregate export and import finances are secured by
hypothecation of stores, spares and loose tools, stock-in-trade, trade debts, charge on property, plant and equipment of
the Company, joint Pari Passu charge on all present and future assets of the Company, ranking charge on current assets
of the Company, lien over export LCs / contracts, personal guarantees and subordination of sponsors' loan. One of the
banks, Faysal Bank Limited, is also secured by mortgage over properties of certain directors and over commercial
properties owned by Associated Engineering (Private) Limited, an associated company.
The unutilized portion in respect of above funded facilities mentioned in note 14.1 & 14.2 amounts to Rs. 49.22 million
(2020: Rs. 122.94 million).
14.3 This represents unsecured borrowings obtained from the associated company, to meet working capital requirements,
that carries mark-up @ 3 months KIBOR + 3% per annum on the balance outstanding.
14.4 This represents loan taken from directors to meet the working capital requirements of the Company.
14.5 Letters of credit and guarantee
The main facilities for opening letters of credit and guarantees aggregate to Rs. 826.01 million (2020: Rs. 578.42
million). The amount utilized as at June 30, 2021, for letters of credit was Rs. 177.19 million (2020: Rs. 55.56 million)
and for letters of guarantee was Rs. 375.25 million (2020: Rs. 332.89 million). The amounts unavailed as at the
reporting date amount to Rs. 273.57 million (2020: Rs. 189.97 million). The aggregate facilities for opening letters of
credit and letters of guarantee are secured by charge on present and future fixed assets of the Company, ranking
charge on current assets of the Company, lien over import documents, personal guarantees, subordination of sponsors'
loan and counter guarantees of the Company. Mortgage over properties of certain directors is registered in favor of
Faysal Bank Limited and Silk Bank Limited only and mortgage over commercial properties owned by Associated
credit and letters of guarantee are secured by charge on present and future fixed assets of the Company, ranking
charge on current assets of the Company, lien over import documents, personal guarantees, subordination of sponsors'
loan and counter guarantees of the Company. Mortgage over properties of certain directors is registered in favor of
Faysal Bank Limited and Silk Bank Limited only and mortgage over commercial properties owned by Associated
Engineering (Private) Limited, an associated company is registered in favour of Faysal Bank Limited.
Note 15
Current Portion of Non-Current Liabilities
2021 2020
Note Rupees Rupees
Long term financing 8 74,023,595 61,782,633

Lease liabilities 9 3,447,028 3,229,074
Deferred income - government grant 1,299,641 -
Payable to employees against discontinued provident fund 715,551 -
79,485,815 65,011,707
Note 16
Contingencies and Commitments
Contingencies
16.1 The Company has indemnified the Trustees of EMCO Industries Limited Provident Fund and the beneficiaries
thereof, from any and all events wherein they or anyone suffers any loss and / or damage for allowing the
Company rescheduled time frame to repatriate the borrowed sum into the fund.
16.2 The Collector of Customs has raised a demand of Rs. 10.978 million including penalty of Rs. 2 million on
account of duty / taxes, which has been challenged by the Company in Lahore High Court on April 22, 2017.
The Honourable Court has granted interim injunction against recovery of the claimed amount and the matter
is pending adjudication. The management is confident about the favorable outcome of this litigation and
therefore has not incorporated any provision in these financial statements.
16.3 A demand of Rs. 4.148 million (including default surcharge of Rs. 2.27 million) was raised against the
Company under section 161/205 (3) of the Income Tax Ordinance, 2001 for the period relevant to Tax Year
2011 alleging non-compliance with various applicable withholding provisions contained in the Ordinance. The
Company preferred appeal before Commissioner Inland Revenue (Appeals - 1), Lahore who vide order dated
July 25, 2014 has given relief on various issues to the Company and has deleted the entire amount of
default surcharge. The tax demand after appellate order works out to Rs. 703,172. The Company has
contested this order before Appellate Tribunal Inland Revenue, Lahore (ATIR) on August 22, 2014 hearing
whereof is still pending. The Company's management feel that there are strong grounds to defend the
Company's stance and the liability will not materialize, hence, no provision / adjustment has been made in
these financial statements.
16.4 Through amendment order passed under section 122(1) read with 122 (4) / 122 (5) of the Income Tax
Ordinance, 2001; the Company's return of total income for Tax Year 2011 was amended and taxable income
was assessed at Rs. 78.211 million against declared income of Rs. 20.222 million, however no tax liability
emerged due to availability of unused tax losses. The Company preferred an appeal filed on May 5, 2015
before Commissioner Inland Revenue (Appeals - 1), Lahore. Order against this appeal is yet to be issued.
The Commissioner Inland Revenue (Appeals - 1), vide its order dated February 26, 2021, has given decision
on most of the points in favor of the Company, few points have been remanded back and few are decided
against the Company. The management is assessing appeal before next appellate forum. The Company's
management feel that there are strong grounds to defend the Company's stance and the liability will not
materialize, hence, no adjustment has been made in these financial statements.
16.5 Through amendment order passed under section 122(1) read with 122(5) of the Income Tax Ordinance,
2001; the Company's return of total income for Tax Year 2016 was amended and taxable income was
assessed at Rs. 130.951 million against declared loss of Rs. 308.518 million; however no tax liability
emerged due to availability of unused tax losses. The Company preferred an appeal filed on March 16, 2020
before Commissioner Inland Revenue (Appeals - 1), Lahore which is pending adjudication. The Company's
management feel that there are strong grounds to defend the Company's stance and the liability will not
materialize, hence, no adjustment has been made in these financial statements.
Note 16, Contingencies and Commitments - Cont…
16.6 The Honorable Supreme Court of Pakistan issued judgment on August 13, 2020 regarding applicability of
Gas Infrastructure Development Cess (GIDC). The Court has ordered that GIDC shall be recovered in 24
equal monthly installments starting from August 1, 2020 without the component of late payment surcharge.
SNGPL raised a demand of Rs. 14.18 million along with impugned bill of Rs. 590,925 for the month of
September 2020. The Company has filed an appeal in the Lahore High Court against the said demand. The
Honorable High Court has allowed dispension sought by the Company vide its order sheet dated October 14,
2020. The management believes that it may not be liable to pay GIDC arrears as these pertain to years
before 2015 and the same has not been passed on to the customers. The management strongly believes
that impact of GIDC, if any, will not be material. Hence, no provision has been made in these financial
statements.
16.7 4 (2020: 4) ex-employees have filed cases against the Company in various courts on various dates. Because
of their uncertain nature, it is not possible to quantify their financial impact. The cases are pending
adjudication. The management and the legal advisors of the Company are of the view that the outcome of
these cases is expected to be favorable and liability, if any, arising out on the settlement is not likely to be
material. No provision has been made in these financial statements.
16.8 Bank guarantees amount to Rs. 375.25 million (2020: Rs. 332.89 million) that have been issued in favour of
the following:
2021 2020
Rupees Rupees
Sui Northern Gas Pipeline Limited 25,177,004 22,406,004

NTDC / DISCOS 341,094,346 301,508,214
Collector of Customs 8,978,358 8,978,358
375,249,708 332,892,576
Commitments
16.9 Letters of credit other than for capital expenditure amount to Rs. 177.19 million (2020: Rs. 47.22 million).
16.10 Letters of credit for capital expenditure amount to Nil (2020: Rs. 8.337 million).
16.11 Commitments for future minimum payments in respect of Ijarah arrangements are as follows:
Later than one

Not later than one Later than five
year and later
year years
than five years
--------------- Rupees ---------------
2,108,812 2,160,336 -
Note 17
Property, Plant and Equipment
2021 ### 2020
Note Rupees Rupees
Operating fixed assets 17.1 1,882,605,192 1,354,563,200

Right of use assets 17.2 5,284,759 7,725,071
Capital work in progress 17.3 - 377,302
1,887,889,951 1,362,665,573
17.1 Operating fixed assets - owned
Reconciliation of carrying amounts of property, plant and equipment at the beginning and at end of the year is as follows:
Buildings on Plant and Tools and Furniture and Office

Description Freehold Land Vehicles Total
Freehold Land Machinery Equipment Fittings Equipment
NET CARRYING VALUE BASIS
Year Ended June 30, 2021
Opening net book value 568,360,000 423,456,000 356,461,000 62,270 484,490 870,904 4,868,536 1,354,563,200
Additions - 32,035,276 169,376,128 89,034 2,730,640 - 5,303,511 209,534,589
Depreciation charge - (33,206,359) (62,130,678) (25,883) (152,590) (173,874) (1,595,083) (97,284,467)
Revaluation adjustment 240,816,359 144,622,823 73,883,322 - - - - 459,322,504
Transfer to investment properties:

- Cost 21,475,188 21,587,591 - - - - - 43,062,779
- Accumulated depreciation - (31,917) - - - - - (31,917)
(21,475,188) (21,555,674) - - - - - (43,030,862)
Disposal during the year

- Cost - - 1,915,000 - - - - 1,915,000
- Accumulated depreciation - - (1,415,228) - - - - (1,415,228)
- - (499,772) - - - - (499,772)
Closing net book value 787,701,171 545,352,066 537,090,000 125,421 3,062,540 697,030 8,576,964
### 1,882,605,192
Depreciation rates 5% 4%-35% 20%-40% 20% 20% 20%
Gross Carrying Value Basis
As at June 30, 2021
Cost / revalued amount 787,701,171 953,970,640 1,325,831,778 9,377,757 11,457,041 8,829,914 39,925,147 3,137,093,448
Accumulated depreciation - (408,618,574) (788,741,778) (9,252,336) (8,394,501) (8,132,884) (31,348,183) (1,254,488,256)
Net book value 787,701,171 545,352,066 537,090,000 125,421 3,062,540 697,030 8,576,964 1,882,605,192
NET CARRYING VALUE BASIS
Opening net book value 385,775,000 457,163,958 300,420,184 78,627 604,742 861,752 4,350,634 1,149,254,897
Additions - 55,023,334 31,885,577 - - 205,128 1,518,509 88,632,548
Depreciation charge - (34,604,612) (38,938,946) (16,357) (120,252) (195,976) (1,000,607) (74,876,750)
Revaluation adjustment 182,585,000 (54,126,680) 63,094,185 - - - - 191,552,505
Closing net book value 568,360,000 423,456,000 356,461,000 62,270 484,490 870,904 4,868,536
### 1,354,563,200
Depreciation rates 5% 4%-35% 20%-40% 20% 20% 20%
Gross Carrying Value Basis
As at June 30, 2020
Cost / revalued amount 568,360,000 798,900,132 1,084,487,328 9,288,723 8,726,401 8,829,914 34,621,636 2,513,214,134
Accumulated depreciation - (375,444,132) (728,026,328) (9,226,453) (8,241,911) (7,959,010) (29,753,100) (1,158,650,934)
Net book value 568,360,000 423,456,000 356,461,000 62,270 484,490 870,904 4,868,536 1,354,563,200
Note 17, Property, Plant and Equipment - Continued…
17.1.1 Apportionment of depreciation charge for the year
Depreciation charge for the year has been apportioned as follows:

2021 ### 2020
Note Rupees Rupees
Cost of revenue 28 96,900,699 74,613,384

Administrative expenses 29 383,768 263,366
97,284,467 74,876,750
17.1.2 Particulars of immovable property (land and building) of the Company are as follow:
Location Usage of immovable property Total area
19-KM Lahore
Production plant 222 Kanals 18 Marlas
Sheikhupura Road
17.1.3 Cost, accumulated depreciation and book value of revalued assets
Had there been no revaluation, the carrying amounts of the following classes of assets would have been as follows:
Freehold land 25,081,443 25,521,255

Buildings on freehold land 193,348,819 176,494,849
Plant and machinery 195,366,800 76,026,548
413,797,062 278,042,652
17.1.4 Fair value of the properties was determined using the market comparable method. Fair values are categorized as level
2 fair value hierarchy where inputs are observable. The valuations have been performed by an independent
professional valuer and are based on proprietary databases of prices of transactions for properties of similar nature,
location and condition. Gain from the revaluation of the assets carried out as at June 30, 2021 amounted to Rs.
459.323 million (note 7). Forced sale value of land, buildings and plant and machinery is Rs. 669.546 million; Rs.
463.549 million; and Rs. 429.672 million respectively.
17.1.5 The property, plant and equipment of the Company are subject to first and joint pari passu charge as security for
certain financing by banks (refer Note to 8 and 14).
17.2 Right of use assets
Opening balance 7,725,071 -

Add: Additions during the year 316,940 7,945,787
Less: Depreciation charge for the year 29 (2,757,252) (220,716)
Closing balance 5,284,759 7,725,071
Lease Term (Years) 3 Years 3 Years
Right-of-use assets comprise office space taken from a related party for office operations. There are no variable lease
payments in the lease contracts. There were no leases with residual value guarantees or leases not yet commenced to
which the Company is committed.
17.3 The reconciliation of the carrying amount is as follows:
Opening balance 377,302 -

Additions during the year 140,085,481 377,302
Transfers during the year (140,462,783) -
Closing balance - 377,302
Note 18
Investment Properties
2021 2020
Land Building Total Total
Note Rupees Rupees Rupees Rupees
Opening balance - - - -
Transferred from owner-occupied property 17.1 21,475,188 21,555,674 43,030,862 -
Additions during the year - renovation - 16,760,683 16,760,683 -
Fair value gain on revaluation 32 9,498,641 6,890,577 16,389,218 -
Closing balance 30,973,829 45,206,934 76,180,763 -
These represent portion of land and building on the same land given on rent to a third party during the year. The property, plant
and equipment of the Company are subject to first and joint pari passu charge as security for certain financing by banks (refer
Note to 8 and 14). These are held to earn rental income. Particulars of investment properties as at the reporting date are as
follows:
Forced Sale
Property Type Location Area Independent Valuer Fair Value
Value
Rupees Rupees
Land District Sheikhupura 44,974 sq. ft. M/s Hamid Mukhtar & Co. 30,973,829 26,327,755
(Private) Limited
Building on land District Sheikhupura 44,974 sq. ft. M/s Hamid Mukhtar & Co. 45,206,934 38,425,894
(Private) Limited
76,180,763 64,753,649
The Company has no restrictions on the realisability of its investment properties and no contractual obligations to purchase,
construct or develop investment properties or for repairs, maintenance and enhancements.
Fair value measurements
There are no level 1 and level 3 assets or transfers between levels 1, 2 and 3 during the year.
Valuation techniques used to derive level 2 fair values
Significant Range
Description Valuation Technique Unobservabl (weighted
e Inputs average)
Land Inquiries in the vicinity of land and also information obtained from the estate Price per kanal Reasonable fair
dealers of the area. value
estimates
Building Physically inspection and checking of measurements with the lay-out plan of Price per sq. ft. Reasonable fair
the buildings provided. Construction details, covered areas and quality of value
construction were noted. Conditions of buildings were noted and accordingly estimates
depreciated rate of construction was calculated which was applied to arrive at
fair depreciated market value.
The Company as a lessor has entered into operating lease on its investment property. The lease has term of 5 years. The
Company has received security deposit of Rs. 719,584 from the tenant which is disclosed on face of the statement of financial
position. The deposit is received and is utilizable in accordance with requirements of written agreements, in terms of section 217
of the Companies Act, 2017.
Future minimum rentals receivable under non-cancellable operating lease as at the reporting date are as follows:
After one
Within one year but not More than
year more than five years
five years
--------------(Rupees)--------------
Undiscounted 9,412,164 33,630,852 -

Note 19
Intangible Assets
2021 2020
Note Rupees Rupees
Intangible asset 19.1 1,403,667 1,682,417
19.1 Net Carrying Value
Net carrying value - opening balance 1,682,416 1,961,166

Additions during the year - -
1,682,416 1,961,166
Amortization during the year 19.2 (278,750) (278,750)
Net carrying value as at June 30, 1,403,666 1,682,416
Gross Carrying Value
Cost 2,787,496 2,787,496

Accumulated amortization (1,383,829) (1,105,079)
Net book value 1,403,667 1,682,417
10% 10%
19.2 The Company has implemented ERP (SAP). Amortization charge for the year has been allocated to administrative
expenses.
Note 20
Long Term Prepayments and Other Receivables
2021 2020
Note Rupees Rupees
Long term prepayments 20.1 24,950,784 31,232,373

Recoverable from employees 20.2 14,357,812 15,570,628
39,308,596 46,803,001
20.1 Long term prepayments
Opening balance 48,266,200 50,093,295

Addition during the year 15,468,374 14,367,455
Charge to profit or loss 20.1.1 (18,690,028) (16,194,550)
45,044,546 48,266,200
Current portion of long term prepayments 25 (20,093,762) (17,033,827)
24,950,784 31,232,373
20.1.1 Long term prepayments comprise expenses incurred on product testing and international assurance on product quality
whose benefits will be availed through a number of successive years. Thus, these amounts will be charged to profit or
loss on time proportionate basis.
20.2 Recoverable from employees
Recoverable from employees 20.2.1 15,257,144 15,920,581

Current portion 25 (899,332) (349,953)
14,357,812 15,570,628
20.2.1 This represents recoveries imposed on employees, falling under bonus policy on account of production of faulty
finished goods.
Note 21
Long Term Loans
2021 2020
Note Rupees Rupees
Loans to employees - (Secured - considered good) 21.1 702,010 894,340

Less: current portion 25 (155,980) (164,220)
546,030 730,120
21.1 These represent loans for purchase of motorcycles, bicycles and for the construction of residential houses etc. These
loans are secured against gratuity and are interest free. The loans are repayable over a period of two to eight years.
This also includes loan given to an executive amounting to Rs. 580,000 (2020: Rs. 700,000). Maximum aggregate
balance outstanding at any time during the year calculated by reference to month end balances amounted to Rs.
690,000 (2020: Rs. 760,000).
Note 22
Stores, Spares and Loose Tools
2021 2020
Note Rupees Rupees
Stores 38,675,571 37,853,463

Spare parts 45,659,692 42,906,451
Loose tools 2,315,567 2,043,000
86,650,830 82,802,914
Less: Provision for obsolescence of stock 22.1 (2,189,070) (2,189,070)
84,461,760 80,613,844
22.1 Provision for obsolescence of stock
Opening balance 2,189,069 2,189,069

Provision for the year - -
2,189,069 2,189,069
Less: Obsolete stocks written off - -
2,189,069 2,189,069
22.2 Stores and spares include items which may result in fixed capital expenditure but are not distinguishable.
Note 23
Stock-in-Trade
2021 2020
Note Rupees Rupees
Raw materials 294,183,083 261,692,586

Materials in transit 27,384,534 42,143,564
Work-in-process 85,445,820 69,305,970
Finished goods 205,731,863 252,998,539
612,745,300 626,140,659
Less: Provision for obsolescence of stock 23.1 (18,593,562) (15,719,039)
594,151,738 610,421,620
23.1 Provision for obsolescence of stock
Opening balance 15,719,039 14,934,796

Provision for the year 31 2,874,523 784,243
18,593,562 15,719,039
Less: Obsolete stocks written off - -
18,593,562 15,719,039
23.2 Stocks are under charge by way of hypothecation as security against financing obtained from banks (refer to Note 8
and 14).
Note 24
Trade Receivables
2021 2020
Note Rupees Rupees
Local - (Unsecured - considered good) 588,214,170 356,309,595

Local - (Unsecured - considered doubtful) 107,447,013 101,225,313
Foreign - (Unsecured - considered good) 4,869,240 9,757,130
700,530,423 467,292,038
Less: Loss allowance 24.1 (107,447,013) (101,225,313)
593,083,410 366,066,725
24.1 Loss allowance
Opening balance 101,225,313 101,225,313

Loss allowance for the year 31 6,221,700 -
107,447,013 101,225,313
Less: Bad debts written off - -
107,447,013 101,225,313
Note 25
Advances, Deposits, Prepayments and Other Receivables
2021 2020
Note Rupees Rupees
Advances:
- to employees - considered good 25.1 131,081 1,533,252
- to suppliers
- Considered good 37,361,075 54,337,330
- Considered doubtful 575,685 575,685
38,067,841 56,446,267
Security deposits 5,235,631 5,350,631
Margins held by bank 2,028,613 3,628,540
Claim receivable 235,223 655,316
Prepayments 4,546,961 327,976
Current portion of loans to employees - considered good 21 155,980 164,220
Current portion of long term prepayments 20.1 20,093,762 17,033,827
Current portion of recoverable from employees 20.2 899,332 349,953
71,263,343 83,956,730
Less: Provision for doubtful advances 25.2 (575,685) (575,685)
70,687,658 83,381,045
25.1 These advances are extended to employees and executives against salary and for expenses. This does not include any
amount due from directors (2020: Nil). These balances are secured against employees' retirement benefit balances.
25.2 Provision for doubtful advances
Opening balance 575,685 575,685

Add: Provision for the year 31 - -
575,685 575,685
Note 26
Cash and Bank Balances
2021 2020
Rupees Rupees
Cash in hand 1,045,760 1,094,228

Cash at bank - in current accounts 39,580,097 42,855,729
40,625,857 43,949,957
Note 27
Revenue
2021 2020
Rupees Rupees
Gross revenue:
- Local 2,396,831,600 1,834,961,323
- Export 34,362,279 42,118,019
2,431,193,879 1,877,079,342
Less: Sales tax (353,831,422) (267,987,948)
Less: Trade discounts (38,922) (332,767)
Less: Late delivery charges / liquidity damages (41,866,738) (10,725,766)
Net sales ### 2,035,456,797 1,598,032,861
Note 28
Cost of Revenue
2021 2020
Note Rupees Rupees
Raw and packing materials consumed 724,957,865 497,696,602

Salaries, wages and benefits 28.1 314,252,356 294,591,809
Power and gas 195,034,844 234,335,239
Stores and spares consumed 59,282,554 48,462,232
Testing and inspection 40,703,406 38,588,221
Travelling and conveyance 69,856,404 61,329,427
Rent, rates and taxes 2,849,033 3,015,087
Repairs and maintenance 4,517,940 3,905,573
Entertainment 1,546,789 2,065,767
Insurance 3,226,869 2,994,323
Ijarah rentals 28.2 2,962,536 2,422,448
Communication and stationery 1,871,424 1,373,886
Vehicle maintenance 806,321 794,784
Miscellaneous 61,680 80,560
Depreciation 17.1.1 96,900,699 74,613,384
1,518,830,720 1,266,269,342
Work in process
- Opening work in process 69,305,970 51,773,493
- Closing work in process (85,445,820) (69,305,970)
(16,139,850) (17,532,477)
Cost of goods manufactured 1,502,690,870 1,248,736,865
Finished goods
- Opening finished goods 252,998,539 222,721,841
- Closing finished goods (205,731,863) (252,998,539)
47,266,676 (30,276,698)
1,549,957,546 1,218,460,167
28.1 This includes provision for gratuity expense amounting to Rs. 11.621 million (2020: Rs. 11.094 million).
28.2 The Company has entered into ijarah agreements with a Modaraba for machinery. Under the agreement, the term
of Ijarah is 5 years and payments of Rs. 257,161 are payable monthly.
Note 29
Administrative Expenses
2021 ### 2020
Note Rupees Rupees

Communication and stationery 1,967,217 1,791,370
Travelling 3,484,036 4,527,095
Rent, rates and taxes 29.2 - 1,716,551
Legal and professional charges 4,807,283 6,252,058
Fees and subscription 2,398,182 2,248,158
Vehicle maintenance 1,559,689 516,707
Utilities 1,039,161 912,332
Insurance 212,149 212,149
Repairs and maintenance 752,751 442,034
Computer charges 216,960 583,344
Security charges 4,588 203,599
Miscellaneous 161,061 149,861
Entertainment 895,542 1,036,569
Depreciation on owned assets 17.1.1 383,768 263,366
Depreciation on right of use assets 17.2 2,757,252 220,716
Amortization 19.1 278,750 278,750
87,383,452 78,744,789
29.2 This represents expense relating to short term leases.
Note 30
Selling and Distribution Expenses
2021 ### 2020
Rupees Rupees
Handling, freight and transportation 19,740,438 17,408,654

Travelling 2,368,870 3,999,277
Insurance 178,886 177,074
Vehicle maintenance 296,142 176,001
Rent, rates and taxes 30.2 - 93,727
Communication 215,654 228,218
Advertisement and sales promotion 1,923,977 1,516,906
Entertainment 396,772 572,803
Miscellaneous 559 51,872
32,307,553 30,876,341
30.2 This represents expense relating to short term leases.
Note 31
Other Operating Expenses
2021 2020
Rupees Rupees
Auditor's remuneration:
- statutory audit 950,000 908,000
- half yearly review 300,000 275,000
1,250,000 1,183,000
Exchange loss 233,498 -
Workers' (profit) participation fund 12.3 15,055,567 8,801,775
Interest on workers' (profit) participation fund 12.3 580,942 -
Workers' welfare fund 12.4 5,709,497 4,155,413
Provision for expected credit loss allowance 24.1 6,221,700 -
Provision for obsolescence of stock in trade 23.1 2,874,523 784,243
31,925,727 14,924,431
Note 32
Other Income
2021 ### 2020
Note Rupees Rupees
Exchange gain 426,172 1,615,022

Gain on disposal of non-current assets held for sale - 329,515
Gain on disposal of property, plant and equipment 250,228 -
Effect of discounting of interest free loans 8.2 2,610,984 2,370,583
Amortisation of government grant 2,715,507 -
Rental income 8,639,238 42,624
Liabilities written back 2,358,118 623,543
Fair value gain on investment properties 18 16,389,218 -
Miscellaneous income 15,257 448,132
33,404,722 5,429,419
Note 33
Finance Cost
2021 2020
Note Rupees Rupees
Short term borrowings from banking companies 34,379,330 42,643,050

Short term borrowings from associated companies / related parties 16,497,922 27,098,384
Unwinding of discount on interest free loans 8.2 20,976,820 13,952,845
Long term financing from banking companies 7,041,326 5,963,026
Commission on bank guarantees 5,047,540 4,937,898
Interest on lease liabilities 9 870,256 82,956
Discontinued provident fund 10.1 56,852 113,704
Bank charges 2,651,863 2,586,370
87,521,909 97,378,233
Note 34
Taxation
2021 ### 2020
Note Rupees Rupees
Current 47,197,993 29,007,682

Prior year adjustment 1,114,084 -
48,312,077 29,007,682
Deferred 11.1 29,525,158 16,171,674
77,837,235 45,179,356
34.1 Relationship between tax expense and accounting profit
Profit before taxation 279,765,332 163,078,319
Tax at the applicable rate of 29% (2020: 29%) 81,131,946 47,292,713

Tax effect of amounts that are:
Taxable under final tax regime 1,547,526 (2,261,909)
Not deductible for tax purposes 42,914,895 33,804,942
Deductible for tax purposes but not taken to the statement of profit or loss (79,916,816) (48,233,785)
Prior year adjustment 1,114,084 -
Impact of tax credit / minimum tax 1,520,442 (1,594,279)
Deferred tax 29,525,158 16,171,674
77,837,235 45,179,356
Note 35
Earnings per Share
2021 2020
Earnings for the year attributable to ordinary shareholders Rupees 201,928,097 117,898,963
Weighted average number of ordinary shares outstanding

during the year Numbers 35,000,000 35,000,000
Earnings per share - Basic and diluted Rupees 5.77 3.37
35.1 Diluted earnings per share
There is no dilution effect on the earnings per share of the Company as the Company does not have any convertible
instruments in issue as at June 30, 2021 and June 30, 2020 which would have any effect on the earnings per share if
the option to convert is exercised.
Note 36
Cash Generated from Operations
2021 ### 2020

Rupees Rupees
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation 279,765,332 163,078,319
Adjustment for:
- Depreciation 97,284,467 74,876,750
- Depreciation on right of use assets 2,757,252 220,716
- Amortization 278,750 278,750
- Provision for gratuity 16,349,442 16,053,677
- Workers' (profit) participation fund 15,055,567 8,801,775
- Interest on workers' (profit) participation fund 580,942 -
- Workers' welfare fund 5,709,497 4,155,413
- Markup payable to employees against discontinued provident fund 56,852 113,704
- Amortisation of government grant (2,715,507)
- Provision for expected credit loss allowance 6,221,700 -
- Provision for obsolescence of stock in trade 2,874,523 784,243
- Gain on disposal of property, plant and equipment (250,228) -
- Interest on lease liabilities 870,256 82,956
- Gain on disposal of non-current assets held for sale - (329,515)
- Liabilities written back (2,358,118) (623,543)
- Effect of discounting of interest free loans (2,610,984) (2,370,583)
- Exchange gain (426,172) (1,615,022)
- Exchange loss 233,498 -
- Rental income (8,639,238) -
- Fair value gain on investment properties (16,389,218) -
- Unwinding of discount on interest free loans 20,976,820 13,952,845
- Finance cost 66,488,237 83,311,684
202,348,338 197,693,850
Operating profit before working capital changes 482,113,670 360,772,169
(Increase) / decrease in current assets

- Stores, spares and loose tools (37,483,772) (20,399,617)
- Stock in trade 13,395,359 (161,422,376)
- Trade receivables (232,812,213) 169,080,818
- Advances, deposits, prepayments and other receivables 16,294,461 (7,436,235)
Increase / (decrease) in current liabilities
- Trade and other payables 45,665,912 (14,492,000)
(194,940,253) (34,669,410)
Cash generated from operations 287,173,417 326,102,759

Note 37
Changes in Liabilities Arising from Financing Activities
As at June 30, Non-cash Cash flows As at June 30,

2020 changes (Net) 2021
-------------------------------- Rupees ---------------------------------
Long term financing - net 275,580,018 14,289,884 (84,552,832) 205,317,070

Short term borrowings - net 547,187,306 - 103,459,611 650,646,917
Lease liabilities 8,028,743 1,187,196 (3,570,941) 5,644,998
830,796,067 15,477,080 15,335,838 861,608,985
As at June 30, Non-cash Cash flows As at June 30,

2019 changes (Net) 2020
-------------------------------- Rupees ---------------------------------
Long term financing - net 303,939,605 11,582,262 (39,941,849) 275,580,018

Short term borrowings - net 614,434,005 - (67,246,699) 547,187,306
918,373,610 11,582,262 (107,188,548) 822,767,324
Note 38
Remuneration of Chief Executive, Directors and Executives
Aggregate amounts charged in the financial statements for the year as remuneration and benefits to the chief executive, full time working directors and other
executives of the company are as follows:
Non-Executive
Chief Executive Officer Executive Directors Executives Total
Directors
2021 2020 2021 2020 2021 2020 2021 2020 2021 2020
Rupees Rupees Rupees Rupees Rupees
Managerial remuneration 8,700,408 8,093,400 8,865,408 8,059,464 - - 6,401,070 4,015,952 23,966,886 20,168,816
House rent allowance 3,915,180 3,642,030 3,989,424 3,626,759 - - 1,389,582 701,573 9,294,186 7,970,362
Utilities 1,556,762 1,063,023 1,071,236 1,699,923 - - 398,862 239,905 3,026,860 3,002,851
Gratuity - - 2,137,048 973,852 - - 476,796 201,378 2,613,844 1,175,230
Medical expenses 398,394 318,651 1,773,018 1,333,712 - - 163,012 125,890 2,334,424 1,778,253
Meeting fee - - - - 210,000 - - - 210,000 -
Reimbursable expenses 1,649,007 1,028,456 4,228,646 4,291,326 - - 670,547 254,271 6,548,200 5,574,053
16,219,751 14,145,560 22,064,780 19,985,036 210,000 - 9,499,869 5,538,969 47,994,400 39,669,565
Number of persons 1 1 2 2 8 8 3 2 14 13
38.1 An executive is defined as an employee, other than the Chief Executive Officer and directors, whose basic salary exceeds Rs. 1.2 million in a financial year.
38.2 The Company provides the Chief Executive Officer and certain directors and executives with company maintained vehicles, residential telephone expenses,
reimbursable club expenses, and servant salaries.
Note 39
Transaction with Related Parties
Related parties comprise associated companies, related group companies, directors of the Company and their close relatives, companies where directors also hold
directorship, key management personnel and post employment benefit plans. Key management personnel are those persons having authority and responsibility for
planning, directing and controlling the activities of the Company, directly or indirectly, including any director (whether executive or otherwise) of that Company. The
Company in the normal course of business carries out transactions with various related parties. Details of transactions with related parties during the year, other than
those which have been disclosed elsewhere in these financial statements, are as follows:
Transactions during the year 2021 2020

Rupees Rupees
Related party Relationship Nature of transaction
Associated Engineers
Associated
(Private) Limited Loan term financing obtained - 4,000,000
company
Conversion of interest bearing to interest free - 7,396,095
EMCO Industries Limited Principal repaid 48,450,000 45,741,070

Associated
Provident Fund undertaking
The Imperial Electric Rent expense - 1,978,748

Company (Private) Short term borrowings received 27,500,000 -
Associated
Limited Short term borrowings repaid 27,500,000 -
company
Conversion of interest bearing to interest free - 1,985,640
Payment of rent expense 3,570,941 992,248
ICC (Private) Limited Short term borrowings obtained 5,000,000 143,700,000

Short term borrowings repaid 5,000,000 143,700,000
Associated
Markup on short term borrowings 15,534,253 23,553,102
company
Markup paid on short term borrowings 20,681,152 22,512,069
Conversion of interest free to interest bearing - 80,750,000
Payments made on behalf of the Company 1,760,023 -
Payments received from the Company 1,612,491 -
Nur Enterprises Associated Short term borrowings repaid - 1,037,484

undertaking
Directors, executives and Associated Short term borrowings obtained 306,350,000 429,810,009
close family members persons Short term borrowings repaid 344,832,481 507,998,296
Markup on short term borrowings accrued 963,669 3,545,282
Markup on short term borrowings paid 986,270 4,332,344
Long term loan received back during the year 120,000 60,000
Note 39, Transaction with Related Parties - Continued…
Outstanding Balance as at the year end 2021 ### 2020

Rupees Rupees
Associated Engineers (Private) Limited Long term financing - interest free 27,335,447 27,335,447
Mark-up on long term financing 6,391,541 6,391,541
EMCO Industries Limited Provident Fund Long term financing 100,529,818 148,979,818
The Imperial Electric Company (Private) Limited Long term financing - interest free 2,615,692 2,615,692
Markup on long term financing 2,343,326 2,343,326
Payable against rent 5,644,998 8,028,743
Other payable 239,749 21,119
ICC (Private) Limited Short term borrowing - interest bearing 155,750,000 155,750,000
Markup on borrowing 3,453,840 8,600,739
Other payable 117,988 -
Advance given - 29,544
Directors, executives and close family members Sponsors' loan 115,708,828 115,708,828
Short term borrowing 54,325,744 92,808,225
Markup on short term borrowing 620,540 643,141
Long term loan receivable 580,000 700,000
Note 40
Financial Risk Management
40.1 Financial risk factors
The Company's activities expose it to a variety of financial risks: market risk (including currency risk, interest rate risk and
other price risk), credit risk and liquidity risk. The Company's overall risk management programme focuses on having cost
efficient funding as well as to manage financial risk to minimize earnings volatility and provide maximum return to
shareholders.
Risk management is carried out by the Company's finance department under policies approved by the senior
management.
(a) Market risk
(i) Currency risk
Foreign currency risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate
because of changes in foreign exchange rates.
This exists due to the Company's exposure resulting from outstanding import and export payments.
At June 30, 2021, if Pakistani Rupee had weakened / strengthen by 1% against the US dollars with all other
variables held constant, pre-tax profit for the year would have been lower / higher by Rs. 0.05 million (2020: Rs.
1.57 million), mainly as a result of foreign exchange losses / gains on translation of US dollar-denominated financial
assets and liabilities.
(ii) Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
Note 40, Financial Risk Management - Continued…
As the Company has no significant floating interest rate assets, the Company's income is substantially independent of
changes in market interest rates.
The interest rate profile of the Company’s interest‑bearing financial instruments as at the reporting date is as follows:
Fixed rate instruments 2021 2020

Rupees Rupees
Financial liabilities 87,796,143 71,444,494
Floating rate instruments
Financial liabilities 615,053,985 525,566,374
Cash flow sensitivity analysis for variable rate instruments
As at June 30, 2021, if interest rates on the Company's borrowings had been 1% higher / lower with all other
variables held constant, profit before tax for the year would have been lower / higher by Rs. 6.15 million (2020: Rs.
5.3 million), mainly as a result of interest exposure on variable rate borrowings.
(iii) Other price risk
Other price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market prices (other than those arising from currency risk or interest rate risk), whether those changes
are caused by factors specific to the individual financial instrument or its issuer, or factors affecting all similar
financial instruments traded in the market.
The Company is not exposed to any market price risk.
(b) Credit risk
Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer
contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily
trade receivables) and from its financing activities, including deposits with banks and financial institutions, foreign
exchange transactions and other financial instruments.
Credit risk of the Company arises from deposits with banks, trade receivables and other receivables. The
management assesses the credit quality of the customers, taking into account their financial position, past
experience and other factors. The utilization of credit limits is regularly monitored. For banks and financial
institutions, only independently rated parties with a strong credit rating are accepted.
The Company monitors the credit quality of its financial assets with reference to historical performance of such
assets and available external credit ratings, if any. As at June 30, 2021, the maximum exposure to credit risk is equal
to the carrying amount of the financial assets as detailed below:
2021 2020
Note Rupees Rupees
Long term loans 21 702,010 894,340

Long term deposits 3,751,900 3,751,900
Trade receivables 24 593,083,410 366,066,725
Security deposits 25 5,235,631 5,350,631
Margins held by bank 25 2,028,613 3,628,540
Claim receivable 25 235,223 655,316
Bank balances 26 39,580,097 42,855,729
The aging of trade receivables as at the reporting date date is as follows:
Past due 1 - 90 days 480,386,323 284,961,488

Past due 91 - 180 days 58,489,457 1,719,474
Past due 181 - 365 days 17,510,747 40,774,730
More than 365 days 36,696,883 38,611,033
593,083,410 366,066,725
Customer credit risk is managed by each business unit subject to the Company’s established policy, procedures
and control relating to customer credit risk management. Credit quality of a customer is assessed based on an
extensive credit rating scorecard and individual credit limits are defined in accordance with this assessment.
The credit risk on liquid funds is limited because most of the counter parties are public sector power distribution
companies (DISCOs), thereby, expected credit loss rate for receivables from these DISCOs is estimated as Nil.
The Company believes that it is not exposed to major concentration of credit risk as its exposure is spread over
a large number of counter parties which mostly include public sector power companies where shareholding is
with the Governments.
An impairment analysis is performed at each reporting date using a provision matrix to measure expected credit
losses. The provision rates are based on days past due for groupings of various customer segments with similar
loss patterns (i.e., by geographical region, product type, customer type and rating, and coverage by letters of
credit or other forms of credit insurance). The calculation reflects the probability-weighted outcome, the time
value of money and reasonable and supportable information that is available at the reporting date about past
events, current conditions and forecasts of future economic conditions. The Company does not hold collateral
as security. The letters of credit are considered integral part of foreign trade receivables and considered in the
calculation of impairment.
The Company evaluates the concentration of risk with respect to trade receivables and contract assets as low,
as its customers are located in several jurisdictions and operate in largely independent markets. The credit risk
on liquid funds is limited because the counter parties are banks with reasonably high credit ratings and DISCOs.
The management estimates the recoverability of trade receivables on the basis of financial position and past
history of its customers based on the objective evidence that it shall not receive the amount due from the
particular customer. The provision is written off by the Company when it expects that it cannot recover the
balance due. Any subsequent repayments in relation to amounts written off are credited directly to the
statement of profit or loss account.
The credit quality of bank balances that are neither past due nor impaired can be assessed by reference to
external credit ratings (if available) or to historical information about counterparty default rate:
Rating Rating
Short term Long term Agency 2021 2020
Rupees Rupees
Allied Bank Limited A1+ AAA PACRA 1,582,330 38,481,701

Askari Bank Limited A1+ AA+ PACRA 7,913 145,015
Bank Alfalah Limited A1+ AA+ PACRA 14,024 21,796
The Bank of Punjab A1+ AA+ PACRA 137,703 605,650
Faysal Bank Limited A1+ AA PACRA 80,156 8,354
Habib Bank Limited A-1+ AAA JCR-VIS 3,167,911 234,346
MCB Bank Limited A1+ AAA PACRA 47,612 2,455,581
National Bank of Pakistan A1+ AAA PACRA 97,603 188,451
Silk Bank Limited A-2 A- JCR-VIS 292,113 511,887
The Bank of Khyber A1 A PACRA 2,332 -
Standard Chartered Bank
(Pakistan) Limited A1+ AAA PACRA 33,745,168 100,000
United Bank Limited A-1+ AAA JCR-VIS 405,232 102,948
39,580,097 42,855,729
(c) Liquidity risk
Liquidity risk represents the risk that the Company will encounter difficulties in meeting obligations associated
with financial liabilities. Prudent liquidity risk management implies maintaining sufficient cash and marketable
securities, the availability of funding through an adequate amount of committed credit facilities. Due to dynamic
nature of the business, the Company maintains flexibility in funding by maintaining committed credit lines
available. The Company's liquidity management involves projecting cash flows and considering the level of
Carrying Contractual Above 5

Description Within 1 year 1-2 Years 2-5 Years
Amount cash flows Years
Rupees Rupees Rupees Rupees Rupees Rupees
Contractual maturities of financial liabilities as at June 30, 2021:
Long term financing 205,317,070 240,043,754 76,650,217 66,863,719 96,529,818 -

Creditors and accrued liabilities 228,645,771 228,645,771 228,645,771 - - -
Accrued finance cost 23,147,424 23,147,424 23,147,424 - - -
Lease liabilities 5,644,998 6,336,937 3,306,228 3,030,709 - -
Discontinued provident
fund payable 715,551 715,551 715,551 - - -
Short term borrowings 650,646,917 650,646,917 650,646,917 - - -
1,114,117,731 1,149,536,354 983,112,108 69,894,428 96,529,818 -
Carrying Contractual Above 5

Description Within 1 year 1-2 Years 2-5 Years
Amount cash flows Years
Contractual maturities of financial liabilities as at June 30, 2020:
Long term financing 275,580,018 347,975,701 62,540,565 118,029,543 119,405,593 48,000,000

Creditors and accrued liabilities 183,765,807 183,765,807 183,765,807 - - -
Lease liabilities 8,028,743 9,529,668 3,441,269 3,176,556 2,911,843
Discontinued provident
fund payable 4,632,632 4,632,632 - 4,632,632 - -
Accrued finance cost 26,626,525 26,626,525 26,626,525 - - -
Short term borrowings 547,187,306 547,187,306 547,187,306 - - -
1,045,821,031 1,119,717,639
### 823,561,472
### 125,838,731
### 122,317,436
### 48,000,000
(d) Fair value of financial instruments
Fair value is an amount for which an asset could be exchanged, or a liability settled, between knowledgeable willing parties in an
arm's length transaction. Consequently, differences may arise between the carrying value and the fair value estimates.
Financial assets which are tradable in an open market are revalued at the market prices prevailing on the reporting date. Fair value is
determined on the basis of objective evidence at each reporting date. The management assessed that the fair values of financial
assets and financial liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.
40.2 Financial instruments by categories
Financial assets as at June 30, 2021
At fair value
At fair value
At amortized through other
through Total
cost comprehensive
profit or loss
income
Rupees Rupees Rupees Rupees
Long term loans - 702,010 - 702,010

Long term deposits - 3,751,900 - 3,751,900
Trade receivables - 593,083,410 - 593,083,410
Security deposits - 5,235,631 - 5,235,631
Margins held by bank - 2,028,613 - 2,028,613
Claim receivable - 235,223 - 235,223
Cash and bank balances - 40,625,857 - 40,625,857
- 645,662,644 - 645,662,644
Financial assets as at June 30, 2020
At fair value
At fair value
At amortized through other
through Total
cost comprehensive
profit or loss
income
Long term loans - 894,340 - 894,340

Long term deposits - 3,751,900 - 3,751,900
Trade receivables - 366,066,725 - 366,066,725
Security deposits - 5,350,631 - 5,350,631
Margins held by bank - 3,628,540 - 3,628,540
Claim receivable - 655,316 - 655,316
Cash and bank balances - 43,949,957 - 43,949,957
- 424,297,409 - 424,297,409
Financial liabilities at amortized cost 2021 2020

Rupees Rupees
Long term financing 205,317,070 275,580,018

Creditors and accrued liabilities 228,645,771 183,765,807
Accrued finance cost 23,147,424 26,626,525
Lease liabilities 5,644,998 8,028,743
Payable to employees against discontinued provident fund 715,551 4,632,632
Short term borrowings 650,646,917 547,187,306
1,114,117,731 1,045,821,031
Note 41
Shariah Screening Disclosures by Company Listed on Islamic Index
2021 2020
Rupees Rupees
Loans / advances obtained as per Islamic mode - -

Shariah compliant bank deposits / bank balances - -
Profit earned from shariah compliant bank deposits / bank balances - -
Revenue earned from a shariah compliant business segment 2,035,456,797 1,598,032,861
Gain / loss or dividend earned from shariah compliant investments - -
Shariah compliant exchange gain earned - -
Mark up paid on Islamic mode of financing - -
Profits earned on any conventional loan or advance - -
Interest paid on any conventional loan or advance 69,967,338 83,240,883
###
Note 42
Capital Risk Management
The Company's objective when managing capital are to safeguard the Company's ability to continue as a going concern in
order to provide returns for shareholders and benefit for other stake holders and to maintain an optimal capital structure to
reduce the cost of capital.
The Company manages its capital structure and makes adjustments to it in the light of changes in economic conditions. To
maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders or issue new shares.
The management seeks to maintain a balance between higher returns that might be possible with higher levels of borrowings
and the advantages and security afforded by a sound capital position. The Company finances its operations through equity,
borrowings and management of working capital with a view to maintaining an appropriate mix between various sources of
finance to minimize risk.
In line with the norms, the Company monitors capital on the basis of the gearing ratio. This ratio is calculated as net debt
divided by total capital. Net debt is calculated as total borrowings (including current and non current and excluding sponsors'
loans) less cash and cash equivalents. Total capital is calculated as equity as shown in the statement of financial position plus
net debt. As at the reporting date, the gearing ratio of the Company was worked out as under:
2021 ### 2020

Rupees Rupees
Borrowings 887,656,829 868,750,050

Cash and bank balances (40,625,857) (43,949,957)
Net debt 847,030,972 824,800,093
Equity 2,071,098,327 1,473,576,692
Total capital employed 2,918,129,299 2,298,376,785
Gearing ratio 29.03% 35.89%

Note 43
Plant Capacity and Production
Capacity Total Production
2021 2020 2021 2020
Insulators - tons 5,000 5,000 4,794 4,198
43.1 Actual production has been increased during the year because the volume of production has been increased. Further,
gap in actual production and capacity is due to lesser orders received than full available capacity.
Note 44
Provident Fund Related Disclosures
The Company operated a recognized provident fund for all its permanent workers that was discontinued effective from March
06, 2018 pursuant to a rescheduling agreement between the Company and the Trustees of the fund as detailed in note 8.6.
Owing to its working capital needs, the Company has utilized funds of the Provident Fund (the Fund). Except for the this, the
investments of the provident fund have been made in accordance with the provisions of section 218 of the Companies Act,
2017 and the rules formulated for this purpose.
Note 45
Number of Employees
2021 2020
Number Number
Number of employees as at June 30, 462 455

Average number of employees during the year 453 463
Note 46
Authorization of Financial Statements
These financial statements were approved and authorized for issue on ______________________ by the Board of Directors of
the Company.
Note 47
Corresponding Figures
Corresponding figures are rearranged for better presentation and comparison. No material re-arrangement has been made in
these financial statements.

4,746,737,074
Difference Opening As Per Client

Client Code Description
Debit Credit Debit
Building and on freehold land
A101011001 LAND - - 568,360,000
- -
A101021001 FACTORY BUILDING - - 694,933,399
A101031001 OFFICE BUILDING - - 8,358,827
A101081001 TUBEWELLS - - 2,729,301
A101121001 ROADS & BOUNDRY - - 46,699,324
A101041001 RESIDENTIAL QUARTER - - 46,179,281
Plant and machinery - -

A101141001 MACHINERY SPARES (DEFERRED) - - 130,050,414
A101051001 PLANT & MACHINERY - - 954,269,509
A101091001 CONSTRUCTION MACHINERY (4) - 167,401
- -
TOOLS & EQUIPMENTS - -
A101131001 MOULD & DYES - - 2,618,154
A101061001 TOOLS & EQUIPMENTS - - 6,670,569
- -
A101101001 FURNITURE FIXTURE - - 8,726,401
A101071001 OFFICE EQUIPMENT - - 34,621,636
A101111001 VEHICLES - - 8,829,914
Musharika - -
Subtotal Assets Sub total (4) - 2,513,214,130
Building and on freehold land - -

A102011001 ACCUM. DEP.FACTORY BUILDING - (1) -
A102021001 ACCUM.DEP.OFFICE BUILDING - 1 -
A102071001 ACCUM.DEP. TUBEWELLS - - -
A102031001 ACCUM.DEP.RESIDENTIAL QUARTER - 4 -
A102111001 ACCUM.DEP. ROADS & BOUNDRY - 2 -
Plant and machinery - -

A102041001 ACCUM.DEP.PLANT & MACHIINERY - (1,406) -
A102131001 ACCUM.DEP. MACH. SPARES (DEFF) - - -
A102081001 ACCUM. DEP.CONSTRUCT.MACHINER - (834) -
TOOLS & EQUIPMENTS - -

A102051001 ACCUM.DEP.TOOLS & EQUITPMENTS - (2) -
A102121001 ACCUM.DEP. MOULD & DYES - - -
- -
A102061001 ACCUM.DEP. OFFICE EQUIPTMENTS - 703 -
A102091001 ACCUM. DEP. FURNITURE FIXTURE - 6 -
A102101001 ACCUM. DEP. VEHICLES - 1,523 -
Subtotal - (4) -
A101151002 ERP SAP
A102141002 ACCUM.DEP.SAP SYSTEM - - -

- -
A105021002 CAPITAL W.I.P. BUILDING - - 377,302
A105041001 CWIP - SOLAR PROJECT - - -
Subtotal - - 377,302
- -
A101151001 ERP SYSTEM - - -
Subtotal - -
- -
Held for sale - -
A301011001 Land - - -
A301011002 Plant and machinery - - -
A301011003 Stores and spares - 1 -
- -
A103011001 PLANT & MACHINERY (LEASE) - - -
Subtotal - -
- -
A101161001 Right of use assets - - 7,725,071
Subtotal - - 7,725,071
- -
A104011001 ACCUM.AMORT.PLANT & MACHINER - - -
- -
new code investment properties - - -

Subtotal - - -
Long Term Loans - -

A106021001 MOTOR CYCLE LOAN - - 82,380
A106031001 CYCLE LOAN - - 91,230
A106041001 HOUSE LOAN - - -
A106051001 GRATUITY LOAN - - 720,730
- -
Long Term Deposits - -
A108011001 SECURITY DEPOSIT - - 3,751,900
Subtotal - - 3,751,900
Inventory - -
Raw materials - -
A202021008 W.I.P- RAW MATERIAL REJECT (1) - -
A202001003 GOODS CLEARING ACCOUNT (14,454,408) - 86,933
Subtotal (14,454,409) - 86,933
WIP - -
A202021009 ADJUSTMENT OF WORK IN PROCESS - - 33,430,317
ADJUSTMENT OF WORK IN PROCESS - -
A202021010 W.I.P INVENTORY CLEARING - - -
Stores spares - -
A202001001 SS INVENTORY 15,009,406 - 344,963,564
Finished goods - -
A202031001 FINISHED GOODS - INSULATORS 1 - 155,044,332
A202041001 FINISHED GOODS IMPORTED TIELS - - -
A202051001 FINISHED GOODS SANITARY WARES - - -
A202001004 W.I.P INVENTORY 2 - 134,053,716
Material in transit - -
A205071010 FPO#12150040 (2014-2015) BALL CLA - - 1
A205071002 FPO-INS-12150025 (2014-15) T & C C - - -
A205071013 FPO-TD-1538 CLEVIS CAPS(2014-2015 - - -
A205071015 FPO-INS-1541 CAPS (2014-2015) - - 8,384
A205071020 FPO-INS-1552 (2014-2015) CAPS - - 10,723
A205071004 FPO-INS-12150015 (2014-15) SLABS & - - -
A201041001 PACKING MATERIAL - -
A202001005 STOCK IN TRANSIT - - 42,143,446
Subtotal 555,000 - 709,741,416

Provision of obsolete store sub total - -
A202091001 PROV OBSOLETE STORE 1 HARD WAR - - 34,026
A202091002 PROV OBSOLETE STORE 2 RAW MATE - - -
A202091006 PROV IMPORTED SANITARY WARES - - -
A202061001 FINISHED GOODS PROVISION OB.ST - - -
A202091004 PROV OBSOLETE STORE 6 RAW MATR - - -
A202091003 PROV OBSOLETE STORE 3 GENERAL S - - -

A202091005 PROV OBSOLETE STORE 7 GENERAL S - - -
Subtotal - - 34,026
- -
Accounts receivables - Trade debts - -
A204191001 INSULATOR RECEIVABLE LOCAL (28,510,434) - 360,823,757
A204301001 TILES RECEIVABLES - - 71,880,220
A204191002 INSULATOR RECEIVABLE FOREIGN - - 22,411
A204221001 INSULATOR SIEMENS - - 86,919
A204251001 MISC.SALE (MATERIAL) - - 1,068,858
A204261001 DISTRIBUTOR - - -
E301011001 OPENING BALANCE - - 1,126,800
A204281001 OTHER PARTIES-KARACHI - - 3,772,639
A204241001 PROVISION FOR BAD DEBTS - - -
Subtotal (28,510,434) - 438,781,604
Advances, Deposits, Prepayments and Other Receivable - -
Advance to employees - -
A106011002 ADVANCE AGAINST SALARY - - 74,595
A205031002 MARGIN - TARIQ REHMAN (MD) - - 5,973
A205031003 MARGIN - SUHAIL MANNAN (DP) - - 4,840
A205031004 MARGIN - IQBAL SHAFIQ (DM) - - 1,330
A205031005 MARGIN - CM - - 1,398,121
A205031006 MARGIN - OTHERS - - 40,000
A205031007 MARGIN - SALEM REHMAN (DO) - - 4,200
A205031008 MARGIN - AHSAN SUHAIL MANNAN ( - - 4,193
Subtotal - - 1,533,252
Advance to suppliers - -
A205091001 ADVANCES TO SUPPLIERS (2) - 45,903,798
ADVANCES TO SUPPLIERS - Doubtful (575,685) -
A205101001 ADJUSTABLE FRIEGHT - - 447,789
A205071024 LANDED COST : LC OPENING CHARGE - - 919,639
A205071025 LANDED COST : INSURANCE COST - M - - 189,397
A205071026 LANDED COST : BANK CHARGES FOR 2 - 40,059
A205071027 LANDED COST : EXCISE TAXATION OFF - - 697,490
A205071028 LANDED COST : DO CHARGES - - 761,653
A205071029 LANDED COST : CUSTOM DUTY - - 1,087,932
A205071030 LANDED COST : CUSTOM CLEARANCE - - 303,751
A205071031 LANDED COST : DEMURRAGE - - -
A205071032 LANDED COST : WHARFAGE - - 256,497
A205071033 LANDED COST : DETENTION - - -
A205071034 LANDED COST : TRANSPORTATION - - 132,600
A205071035 LANDED COST : FREIGHT FOR FOB SH - - 41,065
A205071036 LANDED COST : OTHER CHARGES - - 344,099
A205071037 LANDED COST : LOCAL TRUCKAGE - - 3,443,769
A205091002 COLLECTOR OF CUSTOM - - -
Subtotal (575,685) - 54,569,538
- -
L204011001 GOODS RECEIVED NOT INVOICED - - 2,566
- -
A205051001 "CUSTOM ""PD"" ACCOUNT" - - 655,316
- -
Security Deposits - -
A205011001 SECURITY DEPOSITS OTHERS - - 4,729,392
A205011002 PERFORMANCE BOND WAPDA - - 621,239
Subtotal - - 5,350,631
Recoverable from Employees - -
A205051002 RECOVERABLE FROM EMPLOYEES - - 15,920,581
Subtotal - - 15,920,581
Margins held by Bank - -
A205021001 MARGIN-GUARANTEE - - 1,636,890
A205021002 MARGIN-LC - - 1,991,650
Subtotal - - 3,628,540
Prepayments - -
A205041001 PREPAID EXPENSES 1 - 327,977
A205041002 INTERNATIONAL TESTING - - 48,266,200
A205041003 DEFERRED COST- OF INSTRUMENT T - - -
Subtotal 1 - 48,594,177
- -
Recoverable from Government - -
A205061001 ADVANCE INCOME TAX 87-88 - - 6,666
A205061002 ADVANCE INCOME TAX 91-92 - - -
A205061005 ADVANCE INCOME.TAX 1995-96 - - 3,934,525
A205061006 ADVANCE INCOME TAX 1996-97 - - 602,354
A205061007 ADVANCE INCOME TAX 97-98 - - 1,139,968
A205061008 ADV INCOME TAX 97-98A/C CLOSED - - 170,520
A205061010 ADV INCOME TAX 1999-2000 - - 2,685,383
A205061011 ADV INCOME TAX 2000-2001 - - 2,715,639
A205061012 ADV INCOME TAX-2001-2002 - - 3,239,959
A205061013 ADV INCOME TAX-2002-2003 - - 3,820,740
A205061014 ADV INCOME TAX-2003 - - 3,048,587
A205061015 ADVANCE INCOME TAX 2004 - - 4,563,116
A205061018 ADVANCE INCOME TAX-2007 - - 4,260,332
A205061021 ADVANCE INCOME TAX (2010) - - 10,638,065
A205061022 ADVANCE INCOME TAX 2010-2011 (1) - 9,683,968
A205061023 WITHHOLDING SURCHARGE 15% 201 - - 581,431
A205061030 ADVANCE INCOME TAX 2017-18 (1) - 23,547,909
A205061031 ADVANCE INCOME TAX 2018-19 565 - 44,454,106
Subtotal 563 - 246,781,497
- -
- -
A205111001 ADVANCE INCOME TAX HBL DAVIS R - - 160,984
A205111002 ADVANCE INCOME TAX ASKARI BAN - - 171,142
A205111003 ADVANCE INCOME TAX ABL KASHMIR - - 986,047
A205111004 ADVANCE INCOME TAX FAYSAL BANK - - 526,172
A205111005 ADVANCE INCOME TAX ABL SHADMAN - - 922,393
A205111006 ADVANCE INCOME TAX HBL DAVIS R - - 89,375
A205111007 ADVANCE INCOME TAX SILK BANK. 1 - 2,904,355
A205111008 ADVANCE INCOME TAX STANDARD C - - 106,621
A205111009 ADVANCE INCOME TAX ST.CH.BANK K - - 75,695
A205111010 ADVANCE INCOME TAX HBL MANDIAL - - 1,641,473
A205111011 ADVANCE INCOME TAX HBL (1) - 630,299
A205111012 ADVANCE INCOME TAX MCB KHI - - 5,636
A205111013 ADVANCE INCOME TAX (FAYSAL) - - 45,200
A205111014 ADVANCE INCOME TAX MCB ICHRA (1) - 1,091,111
A205111015 ADVANCE INCOME TAX UBL GULBERG - - 1,463,794
A205111016 ADVANCE INCOME TAX BOP KASURI - - 779,370
A205111017 ADVANCE INCOME TAX NBP - - 455,371
A205111018 ADVANCE INCOME TAX ALFALAH BAN - - 1,740,406
A205111019 ADVANCE INCOME TAX BOP - M.M.T - - 221,559
A205111020 ADVANCE INCOME TAX ALFALAH BA - - 296,979
A205111022 ADVANCE INCOME TAX FAYSAL BANK L - - 164,469
A205111023 ADVANCE INCOME TAX SCB BANK - - 772,872
A205111024 ADVANCE INCOME TAX HBL - - 509,809
A205111026 ADVANCE INCOME TAX RBS BANK - - 102,220
A205111027 ADVANCE INCOME TAX BOP. - - 204,698
A205111028 ADVANCE INCOME TAX FBL EGERTON - - 128,776
Subtotal (1) - 16,336,937
- -
- -
- -
- -
Cash and Bank - -
Cash: - -
A206011001 HEAD OFFICE - CASH - - 571,321
A206021001 FACTORY - CASH - - 522,907
A208011001 ISLAMABAD BRANCH OFFICE - - -
A208021001 KARACHI BRANCH OFFICE - - -
A208031001 FACTORY OFFICE BRANCH - - -
Subtotal - - 1,094,228
Banks: - -
A207021001 HBL MANDHIALI BR.A/C 01-06 - - 89,615
A207031001 ASKARI BANK A/C #0060100058209 - - 145,015
A207041001 ABL-A/C#01-200-1304-2-KASHMIR RO (1) - 38,481,701
A207051001 FAYSAL GULBERG#148-2017571-001 - - 8,354
A207081001 SILK BANK LIMITED MAIN BRANCH L (1) - 511,887
A207091001 SCB BANK LTD.KARACHI 6114-250250 - - -
A207111001 HBL.MANDIALI IMPR.A/C # 191-97 1 - 25,744
A207121001 HBL CENTER BR.CD A/C#1242022007 - - 118,988
A207141001 MCB ICHRA.3855-5 1 - 2,455,581
A207151001 UBL GULBERG-A/C 0104649-7 1 - 102,948
A207161001 BANK OF PUNJAB KASURI TOWER BR. - - 18,555
A207171001 NBP-CD A/C# 6721-0 GULBERG BR.LA - - 37,317
A207181001 BANK ALFALAH CAV.GR.#01000315 - - 535
A207201001 BANK OF PUNJAB.M.M.TOWER.A/C#0 - - 587,095
A207211001 BANK ALFALAH MAIN BOULEVARD 00 - - 21,261
A207221001 NBP-CD A/C# CA 6-6 CORP.BRANCH - - 151,134
A207231001 FAYSAL BANK LTD.LEADS CENTER 30 - - -
A207241001 CLEARING CHECK ACCOUNT - - -
A207251001 FAYSAL BANK EGERTON A/C#455224 - - -
A218311001 STANDARD CHARTARD BANK - - 100,000
A207271001 THE BANK OF KHYBER A/C 20059046 - - -
L123011001 SCB-DEMAND FINANCE - - -
A207261001 HABIB BANK LIMITED - US$ A/C#124 - - -
A207011001 HBL DAVIS ROAD BRANCH - - -
Subtotal 1 - 42,855,730
- -
L202221001 PROVISION FOR TAXATION - - -
- -
- -
E101011001 ORDINARY SHARE CAPITAL - - -
Subtotal - - -
- -
E201011001 CAPITAL RESERVE - - -
- -
E202011001 GENERAL RESERVE - - -
- -
Sponsor's Loan- Long Term Loan from Directors - -
L101051001 MR. HARIS NOORANI - - -
L101051002 MR. USMAN HAQ - - -
L101051003 MR. TARIQ REHMAN - - -
L101051004 MR. TAHIR REHMAN - - -
L101051005 MRS. AMBREEN HAQ - - -
L101051006 MR. SUHAIL MANNAN - - -
L101051007 MRS. ATTIA ZAHEER - - -
L101051008 MRS. SAIRA KHAYYAM - - -
L101051009 MRS. REHANA SHAFIQUE - - -
L101051010 MRS. MEHMOONA LUQMAN - - -
L101051011 MR. PERVAIZ SHAFIQ SIDDIQI - - -
L101051012 MR. JAVAID SHAFIQ SIDDIQI - - -
L101051014 MRS. AYESHA NOORANI - - -
L101051015 MR. SALEM REHMAN - - -
L101051013 MR. AHSAN SUHAIL MANNAN - - -
Subtotal - - -
- -
UNAPPROPRIATED Loss/ (PROFIT) - -
E203011001 UNAPPROPRIATED PROFIT (131) (118,467,618) 466,476,147
E205011001 RETAINED EARNINGS - 118,467,628 -
Subtotal (131) 10 466,476,147
XXXX Revaluation surplus due to rate change -
Revaluation Surplus - -
E204011001 LAND - - -
E204011002 BUILDING - - -
E204011003 ROADS & BOUNDARY WALLS - - -
E204011004 RESIDENTIAL QUARTERS - - -
E204011005 PLANT & MACHINERY - (13,683,447) -
Adjustments (13,683,447) -
Subtotal (13,683,447) (13,683,447) -
Long Term Financing - -

L101011001 PICIC LOAN 185 MILLION - - -
L101011002 BOP DF A/C - - -
L101011005 NBP DF-I LOAN - (1) -
L101011007 NBP DF-II LOAN - IAS 39 impact - - 625,551
L101011006 NBP DF-II LOAN - - -
L101011009 HBL RFWS IAS 39 impact - - -
L101011008 HBL TERM LOAN - RFWS SCHEME - - -
L123011003 SCB-DEMAND FINANCE-IAS 39 impact - - 6,554,709
L123011002 SCB-DEMAND FINANCE-II - (1) -
Subtotal - (2) 7,180,260
- -
Long term loans & P find loan sub total - -
L101021001 PF LOAN - - -
L101021002 PF LOAN-IAS 39 impact - - 35,417,886
L202191013 ACCRUED INTEREST PF - - -
- -
L202191010 ACCRUED INTEREST ASSOCIATED COM - - -
Subtotal - - -
- -
Related party loan - -
L101011004 ICC (Pvt.) Limited - DF - - -
L101031004 IMPERIAL ELECTRIC CO (PVT) LTD. IAS - - 295,582
L101031001 IMPERIAL ELECTRIC CO (PVT) LTD. - - -
L101031003 ASSOCIATED ENGINEERS (PVT) LTD.IA - - 3,088,998
L101031002 ASSOCIATED ENGINEERS (PVT) LTD. - - -
- -
Subtotal - - 3,384,580
- -
Long term loans - -
L101041001 FIRST PUNJAB MODARABA - - -
Subtotal - - -
- -
A203011001 DEFERRED TAX ASSETS-2002-2003 103,532,664 - 103,532,664
A203011002 DEFERRED TAX ASSETS-2004-2005 - 103,532,664 -
Subtotal 103,532,664 103,532,664 103,532,664
- -
Deferred Liabilities - -
L202251006 PF 12 MONTHS PAYABLE - (8) -
L104011001 GRATUITY SCHEME PAYABLE - - -
L104021001 GRATUITY SCHEME MARK UP - - -
Subtotal - (8) -
- -
L125021001 RESERVE FOR GRATUITY - - 609,043
L125041001 GRATUITY NEW SCHEME (JAN/2003) - - -
- -
L103011001 DEFERRED TAXATION - - -
Subtotal - - -
new code Long term deposits - - -

Subtotal - - -
Trade and Other Payables - -

L202331001 TRADE ACCOUNTS PAYABLE - 517,499 -
- -
Accrued Liabilities - -
L202241001 ACCRUED EXPENSES-POWER & GAS - 9,774 -
L202241002 ACCRUED EXPENSES-TELEPHONE.HO - - -
L202241008 ACCRUED EXPENSES-LAHORE MKT - - -
L202241011 ACCRUED EXPENSES-MESS CONTRIBU - - -
L202241013 ACCRUED MISC.EXPENSES - (517,500) -
L202251001 UN PAID SALARY - - -
L202251002 OVERTIME PAYABLE - - -
L202251005 FINAL SETTLEMENT PAYABLE - - -
Subtotal - (507,726) -
- -
Salaries Payable - -
L202021001 DAILY WAGES/STIPNED PAYABLE - - 4,816
L202031001 SALARY & WAGES PAYABLE - 1 -
L202071001 BONUS PAYABLE - - -
L202071003 EX- GRATIA PAYABLE - 6,944,330 -
L202071002 10-C BONUS PAYABLE - (6,944,330) -
Subtotal - 1 4,816
- -
- -
L202181001 PROFESSIONAL TAX PAYABLE - - -
- -
Payable to Employee retirement benefit funds - -
L202111001 UNION FUND - - -
L202241004 ACCRUED EXPENSES-SOCIAL SECURIT - - -
L202241005 ACCRUED EXPENSES-EOBI - - -
L202241006 ACCRUED EXPENSES-CANTEEN - - -
- -
L202171001 DECEASED EMPLOYEE ASSISTANCE F - (223,416) -
Subtotal - (223,416) -
- -
ADVANCE FROM CUSTOMERS - -
L203011001 ADVANCE FROM CUSTOMERS - (28,510,436) -
A204201001 DISPUTED CHEQUES - - -
A204231001 PROVISION AGAINST CR. BALANCES - 5 -
Subtotal - (28,510,431) -
- -
L202101001 PROVIDENT FUND - 89 -
Subtotal - 89 -
- -
Unclaimed Dividend - -
L202061001 UNCLAIMED DIVIDEND 1983 - - -
L202051001 DIVIDEND PAYABLE - - -
L202061011 UNCLAIMED DIVDEND 1995-96 - - -
Subtotal - - -
- -
Sales Tax and Special Excise Duty Payable - -
L202151001 FIXED SALES TAX (1) - 730,353
L202151003 FURTHER TAX @ 1% - (1) -
L202211001 SALES TAX PAYABLE - - -
Subtotal (1) (1) 730,353
- -
Advance sales tax - -
A205081001 ADV SALES TAX-RAW MATERIAL - 1 -
A205081003 ADV SALES TAX-UTILITIES 1,642 - 2,706,700
A205081004 ADV SALES TAX-SPARE PARTS - - 86,429
A205081005 ADV SALES TAX-OIL & LUBRICANT - - 1,641,873
A205081007 ADV SALES TAX-SERVICES - - -
L202161013 WITHHOLDING SALES TAX SERVICES ( - - 2,166,789
L202161012 WITHHOLDING S/TAX @ 1% UN-REGI - (1) -
L202161011 WITHHOLDING SALES TAX 2007@ (1/ - - 489,720
A205081009 SALES TAX 1/5TH WITHHELD (1) - 8,010,444
A205081013 ADVANCE SALES TAX ON SERVICES PR - - 861,588
Subtotal 1,641 - 15,963,543
- -
Provident Fund and Welfare Fund Payable - -
L202121001 EMPLOYEE WELFARE FUND - 194,943 -
Subtotal - 194,943 -
- -
Withholding Tax Payable - -
L202161001 INCOME TAX DED. FROM SALARY - - -
L202161002 INCOME TAX CHAIRMAN - - -
L202161003 INCOME TAX SALEM REHMAN - - 50,000
L202161004 INCOME TAX TARIQ REHMAN - - 490,000
L202161005 INCOME TAX SUHAIL MANNAN - - 465,000
L202161006 INCOME TAX AHSAN SUHAIL MANNA - - 100,000
L202161007 INCOME TAX HARIS NOORANI - - 490,000
L202161008 INCOME TAX EMPLOYEES - - -
L202161009 INCOME TAX CREDITORS - - -
Subtotal - - 1,595,000
- -
Provision for WPPF and WWF - -
L202081001 UNPAID WORKERS PROFIT PARTICIPA - 10,800,938 -
PROVISION FOR WWF - (10,800,938)
- -
ADVANCE - -
L203011002 ADVANCE FROM SALE OF MACHINER - - -
L203011003 ADVANCE FROM SALE OF LAND - - -
Subtotal - - -
- -
Accrued Finance Cost - -
Long Term - Banking Companies - -
L202191002 ACCRUED INTEREST NIB - - -
L202191012 ACCRUED INTEREST NBP - (1) -
L202191001 ACCRUED INTEREST SCB - - -
Subtotal - (1) -
- -
Short Term - Banking Companies - -
L202191008 ACCRUED INTEREST FBL - 1 -
L202191004 ACCRUED INTEREST HBL - - -
L202191015 ACCRUED INTEREST SILKBANK - - -
L202191016 ACCRUED INTEREST TARIQ REHMAN - - -
L202191017 ACCRUED INTEREST SUHAIL MANNAN - - -
L202191018 ACCRUED INTEREST SALEM REHMAN - - -
L202191020 ACCRUED INTEREST ASKARI - - -
L202191019 ACCRUED INTEREST AHSAN SUHAIL - - -
L202191014 ACCRUED INTEREST BOP - (1) -
Subtotal - - -
- -
Short Term - Related Parties - -
L202191006 ACCRUED INTEREST SAPICO - - -
L202191003 ACCRUED INTEREST (OTHERS) - - -
Subtotal - - -
- -
Accrued FinancLong Term - Related Parties - -
L202191009 ACCRUED INTEREST ASSOCIATED CO - - -
L202191011 ACCRUED INTEREST ASSOCIATED CO - - -
Subtotal - - -
- -
Short Term BorRunning Finance - -
L201051001 BOP RUNNING FINANCE - 2 -
L201021001 HBL RUNNING FINANCE - (1) -
L201011001 STANDARD CHARTERED BANK - DISC - - -
L201051005 BOP LOCAL BILLS DISCOUNTING - - -
L201051006 BOP PAD - 1 -
L201031005 FBL - LOCAL BILL DISCOUNTING - - -
L201021005 HBL - LOCAL BILL DISCOUNTING - - -
L201031001 FBL RUNNING FINANCE - (2) -
- -
Subtotal - - -
- -
Export and import finances - -
L201021002 HBL EXPORT RE-FINANCE - - -
L201021003 HBL FIM - - -

L201021004 HBL-PAD - - -
L201021007 HBL - FATR - - -
L201041002 NBP - IMPORT FINANCE - - -
L201041005 NBP-PAD - - -
L201041001 NBP CASH FINANCE - - -
L201051002 BOP IMPORT FINANCE - - -
L201051003 BOP FAPC - - -
L201031003 FBL PAD - - -
L201031004 FBL - FATR - (1) -
- -
L201071002 AKBL - FATR - 1 -
L201031002 FBL FIM ACCOUNT - 1 -
L201061002 SILKBANK - FATR - (1) -
Subtotal - - -
- -
Director Loan - -
L202011012 USMAN HAQ - SILKBANK & FBL LOAN (1) - -
- -
Loan from Associate - -
L202011013 THE IMPERIAL ELECTRIC COMPANY (PV - - -
L202011009 ICC (PVT) LIMITED - - -
Subtotal - - -
Directors Loan - -
L202011001 TARIQ REHMAN - (1) -
L202011002 HARIS NOORANI - - -
L202011003 SUHAIL MANNAN - - -
L202011004 AHSAN SUHAIL MANNAN - - -
L202011005 SALEM REHMAN - - -
L202011006 PERVAIZ SHAFIQ SIDDIQI - - -
L202011007 JAVAID SHAFIQ SIDDIQI - - -
L202011010 NUR ENTERPRISES - - -
L202011014 MRS. AYESHA NOORANI - - -
L202011008 TAHIR REHMAN - - -
L202011011 USMAN HAQ - - -
Subtotal - (1) -
- -
Other Payable - -
L202311002 OTHERS PAYABLE - DM - - -
L202311004 OTHERS PAYABLE - DP - - -
L202311005 OTHERS PAYABLE - MD - - -
Subtotal - - -
Sales
R101011001 SALES LOCAL
R101011003 RESALE MATERIAL
Subtotal
R102021001 SALE RETURNS

R102011001 TRADE DISCOUNT
Other Income
R201011001 RENT RECIEVED
XXXX WPPF Writen Back
new code Fair value gain on investment properties
R201041001 MISC. INCOME
R201051001 EXCHANGE GAIN / LOSS
R201031001 GAIN ON SALE OF FIXED ASSETS
Amortisation of deferred markup

R201041002 AMORTIZATION IAS -39
O103081001 UNWINDING COST - PF
R201061001 LIABILITIES NO LONGER PAYABLE

O101111002 AUDIT FEES
O101251001 PROVISION FOR BAD DEBTS / STOCK

ECL
O101231001 WRITE OFFS
Tax Penalties
O157011001 MISC CHARGES
Cost of Sales
C101371001 COST OF GOODS SOLD LOCAL
C101381001 GAIN/LOSS INVENTORY VARIANCE
C101381002 PRICE VARIANCE MOVING AVERAGE
C101381003 W.I.P INVENTORY VARIANCE
C101381004 REJECTED MATERIAL
C101381005 COST OF RESALE MATERIAL
C101381007 COST OF RECYCLE MATERIAL
C101381006 PROCESSED MATERIAL
C152011003 Salaries , Wages And Other Benefits (BOM)
C152011005 Depreciation (BOM)
C152011007 Other Miscellaneous Expenses (Average)
C152011006 Repair & Vehicle Maintenance (BOM)
C152011004 Power (BOM)
C152011008 Gas (BOM)
Raw and Packing Material Consumed

C101011001 RAW MAT. FOR BODY PREPERATION
C101011002 RAW MAT. FOR GLAZE PREPERATION
C101021004 PACKING MATERIAL
C101011004 COMPONENTS CONSUMED
Subtotal
Carriage inwards
C101031003 UNLOADING CHARGES
C101031001 FREIGHT
C101031002 OTHER CHARGES
C101031004 SERVICE CHARGES ON MATERIAL (BOM)
Subtotal
Stores and Spares Consumed

C101021001 GENERAL STORES
C101021003 LOOSE TOOLS
C101021002 MACHINERY SPARES
C152011001 General Store & Loose Tool (BOM)
C152011002 Machinery Spares (BOM)
Subtotal
Salaries, Wages and Benefits

C101061001 WAGES
C101061002 GRATUITY
C101061004 MEDICAL AID OTHERS
C101061005 FAIR PRICE SHOP
C101061006 CANTEEN EXPENSES
C101061007 MESS EXPENSES
C101061008 UNIFORMS
C101061009 P.F. CONTRIBUTION
C101061010 TRANSPORT FACILITY WORKER
C101061011 AWARD - RETIREMENT
C101061012 10 YEAR SERVICE AWARD
C101061016 STAFF WELFARE
C101061017 HAJ EXPENSES
C101061018 MARRIAGE AID
C101061019 GROUP INSURANCE
C101061020 BONUS EMPLOYEES
C101061021 EOBI CONTRIBUTION
C101061022 SOCIAL SECURITY CONTRIBUTION
C101061023 RETIRE MENT BENEFIT
C101061024 SPECIAL AWARD
C101061025 15 YEARS SERVICE AWARD (W.M)
C101061026 OVERTIME
C101061027 DAILY WAGES
C101061028 ONE MONTH NOTICE PAY
C101061029 ENCASHMENT OF EARNED LEAVES
C101061030 PILGRIMAGE MINORITIES EXPENSE
C101061031 MEDICAL - NASEEM KHAN (GM)
C101061032 RIZWAN ASLAM (DGM)
C101061033 10-C BONUS
C101121007 CONTRACT SALARIES
C101061034 MEDICAL - SAMAR RASHEED
C101061035 MEDICAL - FAHAD RASHEED
Subtotal
Wages
C101071001 BASIC PAY
C101071002 COST OF LIVING ALLOWANCE
C101071003 DEARNESS ALLOWANCE
C101071004 COMPANSATRY ALLOWANCE
C101071005 MEDICAL ALLOWANCE
C101071006 HOUSE RENT ALLOWANCE
C101071007 CONVEYANCE ALLOWANCE
C101071008 PUNJAB EMPL. SPL. ALLOWANCE
C101071009 EXTRA DUTY ALLOWANCE
C101071010 OTHERS
C101071011 FAIR PRICE SHOP SUBSIDY
C101071012 WASHING ALLOWANCE
C101071013 HEAT ALLOWANCE
C101071014 TEA SUBSIDY
C101071015 SHIFT ALLOWANCE
C101071017 UTILITIES OTHERS
Subtotal
Directors remuneration
C101121002 MEDICAL AID (DP)

C101121003 ELECTRICITY (DP)
C101121004 SUI GAS (DP)
C101121005 WATER CHARGES (DP)
C101121006 ARREARS
Subtotal
Power and Gas

C101291001 SUI GAS & ELECTRICITY (COLONY)
C101101001 POWER
C101101002 SUI GAS
C101101003 LPG CONSUMPTION
C101101004 DIESEL CONSUMPTION
Subtotal
Vehicle Maintenance
C101081001 LW-19 DP
C101081002 LEF-14 7167 DP
C101081003 LZN-19 DP CAR BMW X 5
C101081005 LZU-9241
C101081006 LEB-11-719 ALTIS COROLLA DP
C101081008 LEA-113 NEW HONDA CIVIC - DP
C101081009 LE-12-8128 TOYOTA ALTIS - DP
C101081010 LE-12-4151 HONDA VTI NASEEM KHAN
C101081012 LEC-3728 FAHAD RASHEED DM(M)
C101261001 DESIGN & DEVELOPMENT
C101081013 LEC-16 5917 SUZUKI BOLAN
C101081014 LWJ-06-5021, SUZUKI CULTUS, SAMMAR RASHID
C101081015 LWA-3416, HONDA CIVIC, ABDUL REHMAN
Subtotal
Repair and Maintenance

C101211001 REPAIR & MAINTENANCE MACHINERY
C101221001 REPAIR& MAINTENANCE OF TOOLS & EQUIPMENT
C101231001 REPAIR& MAINTENANCE OF FACTORY BUILDING
C101301001 REPAIR OFFICE EQUIPMENT
C101321001 REPAIR FURNITURE & FIXTURE
Subtotal
Testing and Inspection

C101251001 TESTING & EXPERIMENT
C101251002 COST- OF INSTRUMENT TRANSFORMER
C101271001 TRAINING EXPENSES
C101181003 INSPECTION CHARGES TO WAPDA DISCO STAFF
Subtotal
Entertainment
C101181001 ENTERTAINMENT OTHERS
C101181002 ENTERTAINMENT CLUB-DP
Subtotal
Insurance
C101201001 INSURANCE ACCIDENT
C101201002 INSURANCE FIRE
Subtotal
Stationery and Communication

C101161001 PRINTING & STATIONERY
Telephone expense
C151241015 MOBILINK # 8471952 DP
C151241016 MOBILINK # 8401960 DP
C151241017 MOBILINK # 8435711 DP
C151241090 OTHER CHARGES - TELEPHONE
C101171024 INTERNET CHARGES - FACTORY
C101151001 POSTAGE & TELEGRAM
C101171025 0316-4488365 (Samar Rashid)
C101171026 0316-4488366 (Fahad Rasheed)
C101171027 0316-4488367 (Naqi Raza)
C101171028 0316-4488368 (Yousaf Salahuddin)
C101171029 0316-4488369 (Empty Slot)
C101171030 0316-4488370 (Ibad Ali)
C101171031 0316-4488371 (Amir Shahzad)
C101171032 0316-4488372 (Imran Khan)
C101171033 0316-4488373 (Asif Azam)
C101171034 0316-4488374 (Ehsan Ali)
C101171035 REHMAN ALI (DMS)
C101171036 MUHAMMAD SHAHZAD ASHRAF (HRO)
C101171001 TEL # 37168922 PABX
C101171002 TEL # 37168923 PABX
C101171003 TEL # 37168924 PABX
C101171007 TEL # 37168928 M(HR&IR)
C101171008 TEL # 37168929 GMP NASEEM KHAN
C101171009 TEL # 37168930-5
C101171011 TEL # 37168932 FAX - INSULATOR
C151241144 MOBILINK # 8461949 DP
C151241199 MOBILINK # 8431949 DP
C101171013 TEL # 5180863/5224167 RES DP(VALLENCIA
C101171014 TEL # 5180864/5224197 RES DP(VALLENCIA
C101171015 SYED NAQI RAZA AM(HR&QA)
C101171016 RIZWAN ASLAM AM(PROD.)
C101171018 QAMAR-UL-ZAMAN AM(HR)
C101171019 SAMMAR RASHID AMP
C101171022 FAHAD RASHEED A.M(MAINT)
Subtotal
Rent, Rates and Taxes

C101141001 FEE & TAXES
C101141002 EDUCATION CESS
C101141004 ISO-14001:2015 EMS
C101141003 ISO-9001
Subtotal
Fees and taxes sub total

C101241003 FOLK LIFTER
C101241002 SHV EQUIPMENT
C101141005 CONSULTANCY CHARGES
Subtotal
Travelling and Conveyance

C101091001 LW-19 DP
C101091002 LEF- 7167 HONDA CITY - DP
C101091003 LZN-19 DP CAR BMW X5
C101091005 LZU-9241
C101091006 LEB-11-719 ALTIS COROLLA DP
C101091008 LEA-113 NEW HONDA CIVIC - DP
C101091009 LE-12-8128 TOYOTA ALTIS - DP
C101091010 LE-12-4151 HONDA VTI NASEEM KHAN
C101091012 LEC-3728 FAHAD RASHEED DM(M)
C101091013 LEC-16 5917 SUZUKI BOLAN
C101092001 CAR INSTALLMENT RIZWAN ALSAM
C101092002 CAR INSTALLMENT SAMMAR RASHEED
C101092003 CAR INSTALLMENT FAHAD RASHEED
C101091014 LWJ-06-5021, SUZUKI CULTUS, SAMMAR RASHID
Subtotal
Travelling
C101111001 TRAVELLING GMP
C101111002 TRAVELLING OTHERS
C101111003 Fahad Rasheed (Manager Maintenance & Testing)
Subtotal
C101191001 CONVEYANCE
Others
C101131001 OTHER EXPENSES
C101281001 NEWS PAPER BOOKS & PERIODICAL
C101311001 OFFICE CONTINGENCIES
C101331001 COMPUTER CHARGES
C101341001 STIPEND
Subtotal
Depreciation - owned
C101351001 DEPRECIATION ON FACTORY BUILDING
C101351002 DEPRECIATION ON RESIDENTIAL QUARTER
C101351003 DEPRECIATION ON PLANT & MACHINERY
C101351004 DEPRECIATION ON TOOLS & EQUIPMENTS
C101351005 DEPRECIATION ON OFFICE EQUIPMENTS
C101351006 DEPRECIATION ON TUBEWELLS
C101351007 DEPRECIATION ON CONSTRUCTION MACHINERY
C101351008 DEPRECIATION ON FURNITURE FIXTURE
C101351009 DEPRECIATION ON VEHICLES
C101351010 DEPRECIATION ON ROADS & BOUNDRY
C101351011 DEPRECIATION ON MOULD & DYES
Depreciation - leased
C101361001 DEP. ON PLANT & MACHINERY - lease
Administrative Expenses
O101011001 ESTABLISHMENT
O101011002 GRATUITY
O101011003 MEDICAL AID OFFICER
O101011004 MEDICAL AID OTHERS
O101011006 P.F. CONTRIBUTION
O101011009 STAFF WELFARE
O101011011 DECEASED EMP.ASSISTANCE
O101011012 BONUS EMPLOYEES
O101011013 EOBI CONTRIBUTION
O101011014 SOCIAL SECURITY CONTRIBUTION
O101011015 OVERTIME
O101011016 ENCASHMENT OF EARNED LEAVE
O101011018 RANA MASOOD ANWAR(M.IR&HR)
O101011019 MEDICAL - MUHAMMAD YOUSAF BHATTI
O101011020 MEDICAL - RIAZ AHMED
O101011023 MEDICAL - ABDUL REHMAN
O101131043 MUNEER AHMAD (ACCOUNTS)
O101131042 EJAZ AHMED (ACCOUNTS)
O101131044 IMRAN SABIR (IT)
O101131045 NAVEED AKRAM KHAN
O102251001 STIPEND
O101171015 10-C BONUS
Subtotal
O101021002 MEDICAL - TARIQ REHMAN (MD)
O101021003 ELECTRICITY - TARIQ REHMAN (MD)
O101021004 SUI GAS - TARIQ REHMAN (MD)
O101021005 WATER CHARGES - TARIQ REHMAN (MD)
O101021007 MEDICAL -DO
O101021008 ELECTRICITY -DO
O101021010 MEDICAL - AHSAN MANNAN (DA)
O101021011 ELECTRICITY - AHSAN MANNAN (DA)
O101021012 SUI GAS - AHSAN MANNAN (DA)
O101021013 WATER CHARGES – AHSAN MANNAN (DA)
O101021014 REMUNERATION OF INDEPENDENT DIRECTOR'S
Subtotal
Salary
O101171001 BASIC PAY
O101171002 COST OF LIVING ALLOWANCE
O101171003 DEARNESS ALLOWANCE
O101171004 COMPANSATRY ALLOWANCE
O101171005 MEDICAL ALLOWANCE
O101171006 HOUSE RENT ALLOWANCE
O101171007 CONVEYANCE ALLOWANCE
O101171008 CANTEEN ALLOWANCE
O101171009 PUNJAB EMPL. SPL. ALLOWANCE
O101171010 EXTRA DUTY ALLOWANCE
O101171011 OTHERS
O101011022 25 YEAR SERVICE AWARD
O101171012 FAIR PRICE SHOP SUBSIDY
O101171013 WASHING ALLOWANCE
O101171014 UTILITIES OTHERS
Subtotal
Postage and telegraph

O101041001 POSTAGE & TELEGRAPH
Printing and stationery

O101051001 PRINTING & STATIONERY
Telephone Charges
O101061001 TEL # 5876477 RES MD(870995)
O101061002 TEL # 5712761 RES MD
O101061003 TEL # 6662749 RES (STJOHN) AHSAN SUHAIL MANNAN
O154071090 TELEPHONE OTHERS CHARGES
O101061006 INTERNET CHARGES
O154071182 ZONG 03118467066
O154071154 TEL # 5775201 MD RES
O154071180 03008850523 SAID-UL-IBRAR
O101061007 MOBILINK# 8467066 MD
O101061008 MOBILINK# 8416312 MD
O101061010 UFONE-03334999662 AHSAN SUHAIL MANNAN
O101061011 TEL 36306545 PABX
O101061012 TEL 36306546 PABX
O101061013 TEL 36368119 FAX
O101061014 TEL 36369225 MD OFFICE
O101061015 TEL 36369223 DO OFFICE
O101061016 TEL 36366866 DA OFFICE
O101061017 TEL 36371377 SCM
O101061018 TEL 36317514 MFA
O101061019 TEL 36368680 PS MD
O101061020 TEL 36300280 ACCOUNTS
O101061021 TEL 36300281 MIT
O101061023 RANA MASOOD ANWAR TEL REIMB
O101061025 MOBILINK 4001047 SALEM REHMAN
O101061026 MUHAMMAD YOUSAF BHATTI M (IT)
O101061027 ABDUL REHMAN (CM)
O101061028 UFONE-4215926 (DA-AHSAN)
O101061029 SAIF UDDIN KHAN DURRANI(AMA)
O101061030 KHURRAM HABIB
O101061031 RIAZ AHMED
O101061032 MUHAMMAD AHMAD AMA
O101061033 KASHIF MEHMOOD (DMA)
O101061034 NAZIM SIDDIQUE (AMA)
O101061035 ASIF ZAHEER
O101061036 SHAHID IQBAL
O101061037 TEL 36362217 GMP
O101061038 TEL 36362218 COMMERCIAL
O101061039 TEL 36306531 DMA
O101061040 TEL 36306532 DA
O101061043 SAIF ULLAH KHALID (CO)
O101061044 EJAZ AHMED
O101061045 MUNEER AHMAD
O101061046 IMRAN SABIR (IT)
O101061047 RIAZAHMED CH. (ADMIN)
O101061048 NAVEED AKRAM KHAN
O101061049 HUSSAIN AHMED KHAN (HEAD OFFICE)
O101061041 ABDUL WAHED RAZA AMC
O101061042 UFONE SALEM REHMAN
Subtotal
Travelling
O101081001 CAR INSTALLMENT RIAZ AHMAD - CFO
O101081002 CAR INSTALLMENT MUHAMMAD YOUSAF BHATTI
O101081003 CAR INSTALLMENT RANA MASOOD ANWAR
O101081004 CAR INSTALLMENT ABDUL REHMAN
Subtotal
CONVEYANCE
O101241001 CONVEYANCE
Travelling
O101181001 TRAVELLING - TARIQ REHMAN
O101181002 TRAVELLING - SALEM REHMAN
O101181005 TRAVELLING - OTHERS
Subtotal
Vehicle Maintenance
O101121001 LES-7294 NEW SHAHZOR (AMP)
O101121004 CAR REPAIR & MAINTENANCE - HR & IR
O101121007 LWP-701 MERCEDESE MD
O101121008 LEC-6235 COROLLA HO
O101121010 LED-13-4120 CIVIC AHSAN SUHAIL MANNAN
O101121017 LEH-19-7098 (MD)
O101121018 LWA-3416, HONDA CIVIC, ABDUL REHMAN
O101131041 LEH-19-7098 (MD)
O101121012 LED-9078 DO
O101121013 CAR REPAIR & MAINTENANCE - MIT
O101121014 CAR REPAIR & MAINTENANCE - MFA
O101131002 LOJ-316 DAK DUTY
O101121015 LEE 2736 MD
O101121016 LEO-4119 DAK DUTY
Subtotal
Transportation expense
O101131001 LES-7294 SHAHZORE (AMP)
O101131003 LWD-19 (MERCEDES ODD)
O101131004 LWH-2087 CITI RANA MASOOD M(IR&HR)
O101131005 SAIF UD-DIN KHAN DURRANI
O101131009 LWP-701 MERCEDESE MD
O101131010 LEC-6235 COROLLA HO
O101131015 ABDUL REHMAN (CM)
O101131016 WAJID ALI PS-MD (AM)
O101131017 M. YOUSAF BHATTI (LRQ 3377)
O101131018 RIAZ AHMAD CH. (CO)
O101131019 KHURRAM HABIB (AO)
O101131021 HUSSAIN AHMED KHAN (DAO)
O101131022 SAID-UL ABRAR (DPO)
O101131023 MALIK M.ASIF ZAHEER (AAO)
O101131024 NAZIM SIDDIQUE
O101131025 MUHAMMAD AHMAD
O101131026 LE-13-1285 (RIAZ AHMED CFO)
O101131027 QAMAR ULLAH KHAN
O101131028 LEE 2736 MD
O101131029 KASHIF MEHMOOD (DMA)
O101131031 LED-9078 DO
O101121003 LWD-19 (MERCEDES ODD)
O101131034 LEO-4119 DAK DUTY
O101131036 SHAHID IQBAL
O101131037 ABDUL WAHEED RAZA
O101131039 SAIF ULLAH KHALID
O101131040 ALI HAIDER
Subtotal

O101141001 OFFICE RENT
Electricity and Gas
O101191004 SUI GAS ELECTRICITY & WATER
O101191011 DIESEL FOR GENERATOR
subtotal
Insurance
O101161001 INSURANCE ACCIDENT
O101161002 INSURANCE FIRE
Subtotal
Legal and Professional Charges

O101111001 LEGAL & PROFESSIONAL CHARGES.
O101111003 TAX CONSULTANCY & COMPANY LAW
O101111004 OUT OF POCKET EXPENCES
Subtotal

O101191006 REPAIR OFFICE EQUIPMENT
O101191005 REPAIR OF FURNITURE
O101191007 REPAIR & MAINTINENCE OFFICE
O101191008 OFFICE RENOVATION
Subtotal
Computer Charges
O101151001 COMPUTER CHARGES
O101151002 SOFTWARE MAINTENANCE CHARGES
Subtotal
Security Charges
O101191009 CASH INTRANSIT SECURITY CHARGES
Fee and Taxes

O101031001 FEE & TAXES
O101031002 PROFESSIONAL TAX
Subtotal
C101241005 IJARAH RENTAL

Others
O101071001 ENTERTAINMENT M(HR&IR)
O101071002 ENTERTAINMENT MFA
O101071004 ENTERTAINMENT DO
O101071005 ENTERTAINMENT DA
O101071006 ENTERTAINMENT OTHERS
O101071007 ENTERTAINMENT CLUB MD
Subtotal
Misc charges:
O101101001 SUBSCRIPTION
O101191012 OTHER EXPENSES
O101191002 NEWSPAPER & PERIODICALS
O101091001 CHARITY AND DONATIONS
O101191013 TRAINING EXPENSES
O101191003 OFFICE CONTIGENCIES
O101201001 STIPEND
Subtotal
Depreciation:
O101211001 DEPRECIATION ON OFFICE EQUIPMENT
O101211002 DEPRECIATION ON FURNITURE & FIXTURE
O101211003 DEPRECIATION ON VEHICLE
Subtotal
Amortization:
O101221001 DEP. ON PLANT & MACHINERY - lease
O101211004 DEPRECIATION ON SOFTWARES
Selling and Distribution Expenses

O102011001 SALES SALARIES
O102011004 STAFF WELFARE
O102011005 BONUS EMPLOYEES
O102011006 GRATUITY
O102011016 SAQIB AZIZ CH M(S&M)
Subtotal
Salary expense
O102071001 BASIC PAY
O102071004 COMPANSATRY ALLOWANCE
O102071005 MEDICAL ALLOWANCE
O102071006 HOUSE RENT ALLOWANCE
O102071010 EXTRA DUTY ALLOWANCE
O102071011 OTHERS
O102071014 UTILITIES OTHERS
Subtotal
O102161002 MEDICAL AID "DM"
O102161003 ELECTRICITY "DM"
O102161004 SUI GAS "DM"
O102161005 WATER CHARGES "DM"
Subtotal
Travelling
O102081004 TRAVELLING MSM
O102151001 CAR INSTALLMENT SAQIB AZIZ
O102201001 CONVEYANCE
O102081005 TRAVELLING OTHERS
Subtotal
Transportation expense
O102101001 LEB-12-982 / LOG-6369 SAQIB AZIZ CH.
O102101003 ABDUL HAMID (AMS)
O102101006 LED-08-4234 PARADO DM
O102101008 LEC-2778 CROLA (DM)
O102101010 MOBEEN KAHWAR (CONVEYANCE)
O102101009 ASIM IMRAN (CONVEYANCE)
O155157026 RIL-8028 (ZAFAR ALI (H.R. SUPERVISOR)
Subtotal
Insurance
O102041002 INSURANCE MARINE
Handling, Freight and Transportation

O102051001 FREIGHT CHARGES
O102051003 FREIGHT CHARGES-EXPORT
O102051004 LOADING/UN-LOADING CHARGES
O102051002 OTHER EXPENSES
O102121004 COLLECTION CHARGES TO WAPDA DISCO STAFF
Subtotal
Vehicle Maintenance
O155141055 LEC 2778 DM
O102091001 LEB-12-982 / LOG-6369 SAQIB AZIZ CH.
O102091002 LED-08-4234 PARADO DM
O154151534 LEC-3728 NAEEM MALIK
O102101002 CARS USED FOR MKT
O102091004 LEC-2778 CROLA (DM)
O155147026 RIL 8028 -ZAFAR ALI (H.R. SUPERVISOR)
Subtotal

O102141001 RENT HEAD OFFICE
Fee and taxes
O102171001 FEE & TAXS
O102231002 OFFICE CONTINGENCES
O102171003 PROFESSIONAL TAX
Subtotal
Communication
O102131012 INTERNET CHARGES - SALES
O102131001 TEL.# 5725392 RES.DM
O102131013 ASIM IMRAN (TELEPHONE)
O102131007 MOBILINK # 4440528 SAQIB AZIZ
O102131008 TEL 36369218 M(S&M)
O102131015 MOBEEN KAHWAR (TELEPHONE)
O102131009 TEL 36369219 INS-MKT
O102231001 NEWS PAPER BOOKS & PERIODICALS
O155192028 MOBILE 0300-5119050 ( ZAFAR ALI)
O102131010 ABDUL HAMEED
Subtotal
O102181001 POSTAGE & TELEGRAM
O102191001 PRINTING & STATIONERY

O102211002 REPAIR OF OFFICE EQUIPMENT
O102211003 REPAIR & MAINT. OFFICE
Advertisement and Promotion

O102031001 COST OF TENDER DOCUMENTS
O102021002 FREE SAMPLES
O102021001 PUBLICITY
O101191001 ADVERTISEMENT
O102021003 EXHIBITION
Subtotal
Late Delivery Charges

O102221001 LD CHARGES
Others
O102121001 ENTERTAINMENT DM
O102121003 ENTERTAINMENT OTHERS
O102131014 ALI HAIDER
O102231005 COMPUTER CHARGES
O102231009 KARACHI OFFICE EXPENSE
O102111001 GIFTS & PRESENTS
O102021004 COMMISSION ON SALE
R201021001 ROUNDING OFF
Subtotal
Depreciation
O102241002 OFFICE EQUIPMENT
Finance Cost:
Long Term - Banking Companies
O103061001 MARKUP ON NIB LOAN
O103011001 MARKUP SCB BANK RF
O103011011 MARKUP NBP RF
O103011031 MARKUP HBL - FATR
O103061007 MARKUP ON HBL RFWS SCHEME
O103061005 MARKUP ON DF NBP
O103061006 MARKUP ON DF ICC
Subtotal
Long Term - Related Parties

O103061002 MARKUP ON PF LOAN
O103051001 MARKUP ON BORROWING FROM ASS.CO.
subtotal
Short Term - Banking Companies

O103011004 MARKUP HBL RF
O103011005 MARKUP HBL ERF
O103011006 MARKUP HBL FIM
O103011007 MARKUP HBL PAD
O103011009 MARKUP FBL FIM
O103011010 MARKUP FBL PAD
O103011013 MARKUP NBP IMPORT FINANCE
O103011015 MARKUP NBP PAD
O103011017 MARKUP BOP RF
O103011022 MARKUP BOP BILL DISCOUNTING
O103011023 MARKUP HBL BILL DISCOUNTING
O103011030 MARKUP ASKARI - FATR
O103011008 MARKUP FBL RF
O103011018 MARKUP BOP FAPC
O103011019 MARKUP BOP IMPORT FINANCE
O103011021 MARKUP BOP PAD
O103011024 MARKUP SCB BILL DISCOUNTING
O103011025 MARKUP SILKBANK - FATR
O103011026 MARKUP SILKBANK – PAD
O103011027 MARKUP FBL BILL DISCOUNTING
O103011028 MARKUP FBL - FATR
Subtotal
Short Term - Related Parties

O103051002 MARKUP ON BORROWING FROM ICC - SAPICO
O103051003 MARKUP ON BORROWING FROM DIRECTORS
O156051004 MARKUP UH (SILKBANK & FBL)
Subtotal
Finance Lease
O103071002 MARKUP ON LEASE MACHINREY
Discontinued Provident Fund

O103061003 MARKUP ON GRATUITY SCHEME
Commission on Bank Guarantees

O103041001 GTEE.(P.BOND)E.F.U.
O103041002 GTEE.COMM HBL
O103041004 GTEE.COMM (FAYSAL MALL BR.)
O103041006 GTEE.COMM BOP
O103041009 GTEE.COMM ASKARI
O103041005 GTEE.COMM NBP
O103041007 GTEE.COMM NIB
O103041010 GTEE.COMM BOK
O103041008 GTEE.COMM SILK
Subtotal
Bank Charges
O103021001 BANK CHARGES - OTHER BANKS
O103021003 BANK CHARGES - HBL MANDIALI
O103021004 BANK CHARGES - ASKARI BANK
O103021005 BANK CHARGES - ABL KASHMIR ROAD LAHORE
O103021006 BANK CHARGES - FBL GULBERG
O103021009 BANK CHARGES - SILK BANK
O103021011 BANK CHARGES - HBL MANDALI IMPREST
O103021012 BANK CHARGES - HBL CENTER BRANCH CD A/C
O103021013 BANK CHARGES - MCB
O103021014 BANK CHARGES - UBL
O103021015 BANK CHARGES - BOP KASURI TOWER
O103021016 BANK CHARGES - NBP
O103021018 BANK CHARGES - BOP M.M.TOWER BRANCH
O103021019 BANK CHARGES - BANK ALFALAH MAIN BRANCH GULBERG
O103021020 BANK CHARGES - NBP CORPORATE
O103021023 BANK CHARGES - STANDARD CHARTERED BANK
O103021024 BANK CHARGES - HBL MALL ROAD
O103021025 BANK CHARGES - FAYSAL BANK
O103021027 BANK CHARGES - BANK OF PUNJAB
O103021028 BANK CHARGES - FBL EGERTON
O103021026 BANK CHARGES - CHEQUE DISHONOUR
O103021029 BANK CHARGES - BOK
O102171004 EXPORT DEV SURCHARGE (EDS)
Subtotal
Current tax:
O104011001 CURRENT INCOME TAX EXPENSES
XXX Prior year tax liability
Prior year tax credit on min tax
Deferred tax expense:

O104021001 DEFERRED INCOME TAX EXPENSES
L201021006 DEFERRED INCOME - GOVERNMENT - - -
Amortization of govt grant

Miscellaneous expenses
Security deposits written off

Provision for stock in trade
Provision for doubtful advances
O157011002 Workers' (profit) participation fund
Workers welfare fund

OCI
R201031003 IMPAIRMENT OF FIXED ASSETS
4,746,737,074
4,749,524,574 4,688,204,404 4,688,204,404 35,734,870,120 35,734,870,115 688,830,518
(2,787,500) - 5 -
Opening As Per Client Opening As Per Acccount During the period Adjustment
Credit Debit Credit Debit Credit Debit
- 568,360,000 - - - 240,816,359
- -
- 694,933,399 - 38,891,422 - 144,622,823
- 8,358,827 - 8,747,330 -
- 2,729,301 - - -
- 46,699,324 - 1,157,207 -
- 46,179,281 - - -
- -
- 130,050,414 - 1,398,000 -
- 954,269,509 - 168,010,916 2,155,000 74,090,534
- 167,405 - - -
- -
- -
- 2,618,154 - - -
- 6,670,569 - 89,034 -
- -
- 8,726,401 - 2,730,640 -
- 34,621,636 - 5,303,511 -
- 8,829,914 - 25,000 25,000
- -
- 2,513,214,134 - 226,353,060 2,180,000 459,529,716
- -
335,518,640 - 335,518,641 - 30,146,159 1,079,379
2,002,386 - 2,002,385 - -
1,892,819 - 1,892,819 - 82,176
18,007,568 - 18,007,564 - 1,976,058
18,022,725 - 18,022,723 - 2,049,428
-
- -
627,359,024 - 627,360,430 1,415,228 46,890,021
100,491,060 - 100,491,060 - -
174,004 - 174,838 - -
- -
6,606,862 - 6,606,864 - 25,763
2,619,589 - 2,619,589 - 120
-
- -
29,753,803 - 29,753,100 - 1,595,083
8,241,917 - 8,241,911 - 152,590
7,960,533 - 7,959,010 - 173,874
1,158,650,930 - 1,158,650,934 1,415,228 83,091,272 1,079,379
- 2,787,496 - - -
1,105,079 - 1,105,079 - 278,748

- -
- 377,302 - 139,878,270 140,255,571
- 207,211
- 377,302 - 140,085,481 140,255,571 -
- -
- - - - -
- -
- -
- -
- - - - -
- - - - -
1 - - - -
- - - - -
- - - - -
- -
- 7,725,071 - 2,648,592 316,940

- 7,725,071 - - 2,648,592 316,940
- -
- - - - -
- -
- - - - 76,180,763
- - - - - 76,180,763
- -
- 82,380 - - 22,320 2,880
- 91,230 - - 20,380 3,440
- - - - -
- 720,730 - 650,180 143,330 2,600
- 894,340 - 650,180 186,030 8,920
- -
- -
- 3,751,900 - - -
- 3,751,900 - - - -
- -
- -
- 1 - - -
- 14,541,341 - 36,065,749 35,643,033
- 14,541,342 - 36,065,749 35,643,033 -
- -
- 33,430,317 - 37,938,493 55,470,970 69,771,832
- -
223,853 - 223,853 4,607,518,575 4,607,518,575 1
- -
- 329,954,158 - 2,088,639,601 2,052,723,903 14,964,057
- -
- 155,044,331 - 1,493,014,426 1,536,633,074
- - - - -
- - - - -
- 134,053,714 - 3,113,929,814 3,083,905,516
- -
- 1 - - -
18,990 - 18,990 - -
- - - - -
- 8,384 - - -
- 10,723 - - -
- - - - -
- -
- 42,143,446 - 89,527,873 104,286,903
242,843 694,645,074 242,843 11,430,568,782 11,440,538,941 84,735,890
- 34,026 - - -
88,994 - 88,994 - -
645,592 - 645,592 - -
13,883,003 - 13,883,003 - 3,177,946
1,135,476 - 1,135,476 - -
972,930 - 972,930 - -
1,216,140 - 1,216,140 - -
17,942,135 34,026 17,942,135 - 3,177,946 -
- -
- -
- 389,334,191 - 2,452,331,593 2,225,978,070
- 71,880,220 - 1,000,000 1,000,000
- 22,411 - 19,353,824 26,360,204 6,983,969
- 86,919 - - -
- 1,068,858 - - -
- - - - -
- 1,126,800 - - -
- 3,772,639 - - -
101,800,998 - 101,800,998 - -
101,800,998 467,292,038 101,800,998 2,472,685,417 2,253,338,274 6,983,969
-
- -
- 74,595 - 509,304 529,304
- 5,973 - 15,950 -
- 4,840 - - -
- 1,330 - - -
- 1,398,121 - - 1,398,121
- 40,000 - - -
- 4,200 - - -
- 4,193 - - -
- 1,533,252 - 525,254 1,927,425 -
- -
- 45,903,800 - 762,475,242 788,062,639 8,061,386
575,685 -
- 447,789 - - -
- 919,639 - 2,094,533 1,673,316
- 189,397 - 1,024,268 903,395
- 40,057 - 721,721 702,777
- 697,490 - 5,655,208 5,868,025
- 761,653 - 5,345,896 5,384,635
- 1,087,932 - 72,098,604 70,940,399
- 303,751 - 2,276,679 2,212,783
- - - - -
- 256,497 - 2,278,905 2,213,450
230,955 - 230,955 844,401 596,701
- 132,600 - 16,440,700 15,875,700
- 41,065 - 37,336 -
- 344,099 - 778,841 830,000
- 3,443,769 - 9,486,505 10,436,479
3,819 - 3,819 200,044,581 200,040,762
234,774 55,145,223 234,774 1,081,603,420 1,105,741,061 8,061,386
-
- 2,566 - 1,040,519,608 1,040,519,608
- -
- 655,316 - 7,048,497 7,468,590
- 655,316 - 7,048,497 7,468,590 -
- -
- -
- 4,729,392 - - 115,000
- 621,239 - - -
- 5,350,631 - - 115,000 -
- -
- 15,920,581 - - 823,190 159,753
- 15,920,581 - - 823,190 159,753
- -
- 1,636,890 - 1,246,066 1,226,406
- 1,991,650 - 10,011,827 11,631,414
- 3,628,540 - 11,257,893 12,857,820 -
- -
- 327,976 - 5,720,092 5,363,345
- 48,266,200 - 15,468,374 18,690,028
- 3,927,700 65,462
- 48,594,176 - 25,116,166 24,118,835 -
- -
- -
- 6,666 - - -
781,274 - 781,274 - -
512,215 - 512,215 - -
14,771 - 14,771 - -
- 3,934,525 - - -
- 602,354 - - -
- 1,139,968 - - -
- 170,520 - - -
- 1,794,021 - - -
- 2,685,383 - - -
- 2,715,639 - - -
- 3,239,959 - - -
- 3,820,740 - - -
- 3,048,587 - - -
- 4,563,116 - - -
- 4,462,433 - - -
- 2,514,039 - - -
- 4,260,332 - - -
- 9,490,335 - - -
- 15,582,925 - - -
- 10,638,065 - - -
- 9,683,969 - - -
- 581,431 - - -
- 12,840,443 - - -
- 7,628,392 - - -
- 9,927,730 - - -
- 18,066,057 - - -
- 1,437,735 - - -
- 8,144,347 - - -
- 23,547,910 - - -
- 44,453,541 - - -
- 35,799,772 - 4,444 4,444
- 41,470,159 295,997
1,308,260 246,780,934 1,308,260 41,474,603 300,441 -
- -
- -
- 160,984 - - -
- 171,142 - - -
- 986,047 - - -
- 526,172 - - -
- 922,393 - - -
- 89,375 - - -
- 2,904,354 - - -
- 106,621 - - -
- 75,695 - - -
- 1,641,473 - - -
- 630,300 - - -
- 5,636 - - -
- 45,200 - - -
- 1,091,112 - - -
- 1,463,794 - - -
- 779,370 - - -
- 455,371 - - -
- 1,740,406 - - -
- 221,559 - - -
- 296,979 - - -
- 2,155 - - -
- 164,469 - - -
- 772,872 - - -
- 509,809 - - -
- 137,956 - - -
- 102,220 - - -
- 204,698 - - -
- 128,776 - - -
- 16,336,938 - - - -
- -
- -
- -
- -
- -
- -
- 571,321 - 154,681,435 154,881,634
- 522,907 - 51,753,987 51,602,256
- - - 364,198 364,198
- - - - -
- - - 51,879,150 51,879,150
- 1,094,228 - 258,678,770 258,727,238 -
- -
- 89,615 - 1,110,670 1,199,568
- 145,015 - 79,572,784 79,709,886
- 38,481,702 - 626,542,790 663,442,162
- 8,354 - 377,224,172 377,152,370
- 511,888 - 808,215,670 808,459,215 23,770
- - - - -
- 25,743 - 34,099,880 33,762,933
- 118,988 - 888,660,139 888,745,291
- 2,455,580 - 182,542,544 184,950,512
- 102,947 - 177,263,776 176,961,491
- 18,555 - 21,000 -
- 37,317 - 411,605,567 411,631,752
- 535 - 1,450,000 1,450,000
- 587,095 - 191,241,947 191,730,894
- 21,261 - 19,746,616 19,754,388
- 151,134 - 121,558,130 121,622,793
- - - - -
- - - - -
- - - - -
- 100,000 - 153,692,663 153,692,663
- 880,000 877,668
4,934,381 - 4,934,381 312,812,716 274,233,167
- 2,770,668
- - - - -
4,934,381 42,855,729 4,934,381 4,391,011,732 4,389,376,753 23,770
- -
170,714,516 - 170,714,516 11,491,802 59,267,727
- -
- -
350,000,000 - 350,000,000 - -
350,000,000 - 350,000,000 - - -
- -
39,898,526 - 39,898,526 - -
- -
90,000,000 - 90,000,000 - -
- -
- -
- - - - -
4,254,100 - 4,254,100 - -
31,122,305 - 31,122,305 - -
6,740,000 - 6,740,000 - -
1,300,000 - 1,300,000 - -
15,815,833 - 15,815,833 8,275,000 -
4,322,856 - 4,322,856 - -
4,322,333 - 4,322,333 - -
4,322,333 - 4,322,333 - -
4,322,334 - 4,322,334 - -
3,545,000 - 3,545,000 - 8,300,000
3,545,000 - 3,545,000 - 8,250,000
11,280,900 - 11,280,900 - -
5,000,000 - 5,000,000 - -
15,815,834 - 15,815,834 8,275,000 -
115,708,828 - 115,708,828 16,550,000 16,550,000 -
- -
- -
- 466,476,278 118,467,618 2,255,874,006 2,384,234,780
418,310,226 - 299,842,598 2,373,979,409 2,255,874,006
418,310,226 466,476,278 418,310,216 4,629,853,415 4,640,108,786 -
-
- -
542,838,745 - 542,838,745 - -
175,851,026 - 175,851,026 7,478,205 - 3,356,859
5,377,753 - 5,377,753 - -
6,562,325 - 6,562,325 - -
195,505,551 - 209,188,998 4,824,168 206,430 5,670,953
13,683,447 -
926,135,400 13,683,447 939,818,847 12,302,373 206,430 9,027,812
-
- - - - -
- - - - -
36,036,812 - 36,036,813 17,304,001 -
- 625,551 - 529,858 1,237,365 251,246
10,684,000 - 10,684,000 5,136,000 -
- 4,075,952 1,464,573 1,464,573
35,150,480 - 35,150,480 15,038,583 22,460,788 3,315,228
- 6,554,709 - 673,726 9,189,229 4,715,489
55,826,112 - 55,826,113 14,300,000 -
137,697,404 7,180,260 137,697,406 57,058,120 34,351,955 9,746,536
- -
- -
148,979,818 - 148,979,818 48,450,000 -
- 35,417,886 - 3,110,726 8,620,656
- - - - -
- 5,888,180 7,856,575
- - - 5,888,180 7,856,575 -
- -
- -
- - - - -
- 295,582 - - 67,560
2,615,692 - 2,615,692 - -
- 3,088,998 - 1,693,964 2,400,000
27,335,447 - 27,335,447 - -
29,951,139 3,384,580 29,951,139 1,693,964 2,467,560 -

- -
- -
8,028,743 - 8,028,743 3,570,941 895,388 59,264
8,028,743 - 8,028,743 3,570,941 895,388 59,264
- -
- - - - -
103,532,664 - - - -
103,532,664 - - - - -
- -
- -
682,041 - 682,049 419,997 -
2,662,349 - 2,662,349 3,534,558 -
1,288,234 - 1,288,234 1,006,998 56,852
4,632,624 - 4,632,632 4,961,553 56,852 -
- -
- 609,043 - - -
60,007,486 - 60,007,486 5,868,826 21,100,024 919,565
60,007,486 609,043 60,007,486 5,868,826 21,100,024 919,565
- -
23,628,740 - 23,628,740 6,206,843 43,662,748 5,985,276
23,628,740 - 23,628,740 6,206,843 43,662,748 5,985,276
- - - - - -
- - - - - -
- -
136,445,980 - 135,928,481 1,203,260,634 1,232,440,643 900,000
- -
- -
7,138,184 - 7,128,410 251,529,745 256,544,946 5,005,025
76,480 - 76,480 791,479 777,038
- - - - -
57,124 - 57,124 553,020 624,713
2,629,305 - 3,146,805 6,074,010 5,577,726
385,290 - 385,290 - -
1,387,318 - 1,387,318 20,033,724 20,239,794
3,968,529 - 3,968,529 10,301,554 9,423,016 665,400
15,642,230 - 16,149,956 289,283,532 293,187,233 5,670,425
- -
- -
- 4,816 - - -
19,254,469 - 19,254,468 247,600,211 246,489,590
1,107,182 - 1,107,182 29,907,204 32,575,623 41,070
11,066,656 - 4,122,326 10,814,174 18,998,844
142,710 - 7,087,040 - -
31,571,017 4,816 31,571,016 288,321,589 298,064,057 41,070
- -
- -
6,600 - 6,600 - -
- -
- -
21,344 - 21,344 21,344 129,062
515,449 - 515,449 6,670,955 6,676,647
345,720 - 345,720 4,086,394 4,080,974
594,881 - 594,881 5,923,468 5,841,200
- -
739,696 - 963,112 1,432,043 734,278
2,217,090 - 2,440,506 18,134,204 17,462,161 -
- -
- -
6,468,932 - 34,979,368 7,915,424 4,397,952 (6,187,689)
304,183 - 304,183 - -
92,636 - 92,631 - -
6,865,751 - 35,376,182 7,915,424 4,397,952 (6,187,689)
- -
89 - - - -
89 - - - - -
- -
- -
3,300 - 3,300 - -
6,950 - 6,950 - -
27,750 - 27,750 - -
15,132 - 15,132 - -
10,050 - 10,050 - -
27,125 - 27,125 - -
10,695 - 10,695 - -
19,910 - 19,910 - -
17,242 - 17,242 - -
40,948 - 40,948 - -
35,125 - 35,125 - -
29,450 - 29,450 - -
243,677 - 243,677 - - -
- -
- -
- 730,354 - 311,614,713 347,615,999
4,526,965 - 4,526,966 6,134,747 6,104,580
24,472,227 - 24,472,227 189,946,867 166,276,614
28,999,192 730,354 28,999,193 507,696,327 519,997,193 -
- -
- -
16,005,415 - 16,005,414 136,876,165 117,476,415
- 2,705,058 - 35,755,920 33,017,435
- 86,429 - - -
- 1,641,873 - - -
654,915 - 654,915 10,977,059 8,027,352 44,000
- 2,166,789 - 8,955,776 8,558,867
19,548 - 19,549 4,505,736 5,339,690
- 489,720 - - -
- 8,010,445 - 969,999 -
- 861,588 - - -
16,679,878 15,961,902 16,679,878 198,040,655 172,419,759 44,000
- -
- -
309,513 - 114,570 309,513 820,722
309,513 - 114,570 309,513 820,722 -
- -
- -
3,280 - 3,280 - -
- - - - -
- 50,000 - - -
- 490,000 - - -
- 465,000 - - -
- 100,000 - - -
- 490,000 - - -
1,364,039 - 1,364,039 5,953,917 6,118,374
2,310,663 - 2,310,663 17,432,718 19,087,883
3,677,982 1,595,000 3,677,982 23,386,635 25,206,257 -
- -
- -
19,606,230 - 8,805,292 9,360,652 20,963,680
- 10,800,938
- -
- -
- - - 900,000 900,000
- - - - -
- - - 900,000 900,000 -
- -
- -
- -
- - - - -
266,205 - 266,206 4,416,259 5,696,945
1,682,770 - 1,682,770 3,649,533 2,278,557
1,948,975 - 1,948,976 8,065,792 7,975,502 -
- -
- -
1,665,481 - 1,665,480 5,191,936 4,799,049
2,894,473 - 2,894,473 13,079,796 11,943,460
114,643 - 114,643 538,625 423,982
- - - - -
- - - - -
- - - - -
765,348 - 765,348 3,162,559 3,075,649
- - - - -
1,258,857 - 1,258,858 5,350,163 5,020,531
6,698,802 - 6,698,802 27,323,079 25,262,671 -
- -
- -
8,600,739 - 8,600,739 14,792,972 7,677,678
643,141 - 643,141 1,021,843 999,242
9,243,880 - 9,243,880 15,814,815 8,676,920 -
- -
- -
2,343,326 - 2,343,326 - -
6,391,541 - 6,391,541 - -
8,734,867 - 8,734,867 - - -
- -
- -
11,416,827 - 11,416,825 458,625,725 484,633,361
32,997,889 - 32,997,890 955,350,254 926,926,929
29,999,998 - 29,999,998 149,999,703 153,285,139
15,000,000 - 15,000,000 135,000,000 150,000,000
1 - - - -
10,000,000 - 10,000,000 50,000,000 50,000,000
55,000,000 - 55,000,000 330,000,002 330,000,002
5,507,579 - 5,507,581 1,014,899,100 1,040,890,765
159,922,294 - 159,922,294 3,093,874,784 3,135,736,196 -

- -
0 0
26,000,000 - 26,000,000 81,600,000 81,600,000
30,621,810 - 30,621,810 143,837,875 141,971,267

- - - 77,571,889 77,571,889
- 647,800 22,422,207
14,975,869 - 14,975,869 90,820,972 135,854,269
- - - 15,371,522 15,371,522
- 50,000,000
1 - 1 55,418,961 55,418,961
- - - - -
- - - 19,257,635 19,257,635
16,852,262 - 16,852,263 55,204,709 57,610,081
- -
40,715,387 - 40,715,386 63,777,109 56,052,778
1 - - - -
9,541,457 - 9,541,458 17,375,465 7,834,008
138,706,787 - 138,706,787 620,883,937 720,964,617 -
- -
- -
- 1 - 285,850,000 285,850,000
- -
- -
- - - 31,500,000 31,500,000
155,750,000 - 155,750,000 5,000,000 5,000,000
155,750,000 - 155,750,000 36,500,000 36,500,000 -
- -
29,395,653 - 29,395,654 34,500,000 9,500,000
- - - - -
3,839,354 - 3,839,354 4,870,878 8,275,000
3,886,125 - 3,886,125 4,886,125 8,275,000
12,993,539 - 12,993,539 3,725,479 -
8,300,000 - 8,300,000 8,300,000 -
8,250,000 - 8,250,000 8,250,000 -
- - - - -
16,039,654 - 16,039,654 - -
5,605,000 - 5,605,000 - -
4,498,900 - 4,498,900 - -
92,808,225 - 92,808,226 64,532,482 26,050,000 -
- -
- -
- - - - -
- - - - -
- 11,000,000 11,000,000
- - - 11,000,000 11,000,000 -
- -
134,982 2,075,928,856
- 1,568,583
- - 134,982 2,077,497,439 -
- -
38,922 -
38,922 - -
- 8,639,238
- -
1,797,150 1,812,407
236,631 429,305
- 250,228
- 4,749,230 -
21,166,523 3,049,003 2,859,300
- 2,358,118
1,190,004 - 59,996
3,177,946 - (303,423)
- - 6,221,700
- -
- -
1,524,587,808 472,440
- 1,963,327
3,166,442 3,145,391
32,809,288 32,809,288
192,106,383 24,397,485
1,900,468 -
- -
- -
- 360,641,466
- 97,528,869
- 150,303,272
- 6,742,829
- 72,570,502
- 197,111,270
1,754,570,389 947,686,139 -
- -
1,395,240 -
- -
- -
1,395,240 - -
2,711,060 -
338,532 2,500
1,263,388 -
17,080,501 3,659,789
21,393,481 3,662,289 -
71,881,971 21,680,962
2,181,775 -
15,503,570 8,603,800
- 60,862,725
- 9,063,266
89,567,316 100,210,753 -
628,000 -
10,991,520 - 721,104
40,909 -
7,755,629 6,795,780
4,634,250 389,493
385,397 -
1,250 -
- -
26,862,920 -
242,000 -
30,100 -
28,400 -
64,400 -
353,400 -
2,992,931 400
5,320,000 -
104,000 -
2,504,702 -
27,427,355 -
3,320,665 11,080
6,108,692 505,381
1,027,781 -
368,000 -
- -
20,058,902 -
6,332,438 - 339,906
21,279 85,016
602,189 -
- -
- -
99,480 -
13,077,142 -
1,443,696 -
87,293 -
96,039 -
143,010,759 7,787,150 1,061,010
113,741,846 13,542,172
2,755,076 -
4,948,388 -
482,424 -
1,407,880 -
17,814,347 -
377,599 - 881,844
793,897 -
453,507 -
40,942,528 80,183
291,694 -
614,303 -
49,460 -
21,336 -
121,809 -
3,958,691 -
188,774,785 13,622,355 881,844
716,130 2,100
727,698 -
113,740 -
71,600 -
398,093 -
2,027,261 2,100 -
69,900 167,930
59,705,710 5,923,154
157,606,042 12,727,066
- -
1,476,367 -
218,858,019 18,818,150 -
27,370 25,000
- -
- -
129,882 17,839
206,295 -
199,224 -
29,154 -
- -
110,109 14,600
- -
75,145 -
79,700 -
6,881 -
863,760 57,439 -
2,753,589 -
692,875 - 248,467
530,044 -
232,965 -
60,000 -
4,269,473 - 248,467
50,214,932 10,116,468 523,160

65,462
16,320 -
- -
50,296,714 10,116,468 523,160
1,490,454 3,665
60,000 -
1,550,454 3,665 -
- -
3,226,869 -
3,226,869 - -
1,282,709 -
16,200 -
11,416 -
- -
50,500 -
49,350 -
44,615 -
9,951 302
16,671 -
9,684 24
7,166 3
10,180 -
9,940 -
13,664 912
6,575 3
9,317 -
9,316 5
- -
- -
66,047 -
26,697 -
62,835 -
12,698 -
17,139 -
24,542 -
9,558 -
4,603 -
- -
6,045 -
4,855 -
- -
24,000 -
13,200 -
21,600 -
21,600 -
589,964 1,249 -
407,888 2,880
556,795 -
70,000 -
311,011 -
1,345,694 2,880 -
1,416,219 -
90,000
523,160 -
2,029,379 - -
218,903 2,370
182,651 -
125,230 -
221,172 -
157,602 -
271,398 -
290,548 29,154
70,060 -
212,915 1,400
383,685 -
485,268 -
198,288 -
198,288 -
170,259 -
3,186,267 32,924 -
6,000 -
66,554,090 1,042,000
- -
66,560,090 1,042,000 -
2,067,195 380
6,000 -
6,380 -
50,500 1,200
273,467 25,000
339,906 -
676,253 26,200 -
30,146,159 -
1,976,058 -
46,890,021 - 15,240,657
25,763 -
1,595,083 -
82,176 -
- -
152,590 -
173,874 -
2,049,428 -
120 -
83,091,272 - 15,240,657
- -
1,348,000 -
4,577,280 -
- -
275,508 -
- -
307,600 -
367,139 -
6,027,650 -
127,200 -
55,037 -
168,750 -
23,692
23,669 -
110,833 -
63,532 -
74,622 240
56,020 -
93,350 -
72,420
24,810
- -
11,281,152 5,343,460
25,078,264 5,343,700 -
420,384 21,990
1,282,632 -
253,730 -
20,400 -
838,823 24,536
373,854 -
244,701 -
812,756 -
37,400 -
- -
210,000
4,494,680 46,526 -
28,583,091 5,207
24,876 -
43,584 -
3,000 -
193,569 -
11,599,662 -
28,600 - 902,496
25,200 -
9,000 -
- -
740,484 49,000
- -
1,680 -
5,184 -
821,119 -
42,079,049 54,207 902,496
308,524 26,024
453,571 45,000 145,983
10,528 -
4,085 -
10,798 -
10,388 -
36,180 -
13,144 -
439,252 -
- -
9,558 -
12,000 -
30,761 -
- -
21,645 -
26,481 -
15,076 -
10,044 -
9,558 -
10,018 -
9,618 -
14,599 -
18,066 -
14,652 -
16,619 -
15,824 -
19,200 -
40,620 -
19,200 -
30,000 -
47,865 -
24,000 -
9,600 -
31,200 -
9,600 -
9,600 -
- -
9,600 -
- -
23,787 -
17,788 -
24,438 -
18,021 -
6,000 -
8,800
5,500
7,200
6,075
2,500
675
- -
- -
1,130,163 - -
307,632 -
198,288 -
198,288 -
198,288 -
902,496 - -
74,940 -
3,000 -
- -
137,834 23,000
140,834 23,000 -
235,053 -
68,553 -
645,260 -
186,690 83,779
- -
97,567 -
92,365 -
75,183 -
156,465 -
42,954 -
38,449 4,991
- -
- -
9,920 -
1,648,459 88,770 -
201,300 -
79,737 -
168,713 2,200
105,770 -
3,000 -
451,478 -
206,186 14,429
93,350 -
178,250 6,866
56,020 -
105,770 -
56,020 -
105,770 -
93,350 -
- -
105,770 -
248,674 -
12,000 -
113,065 -
105,770 -
588,414 -
64,600 -
24,500 -
- -
- -
56,020 -
91,230 -
3,314,757 23,495 -
1,257,386 1,257,386
945,460 -
93,701 -
1,039,161 - -
136,820 -
75,328 -
212,148 - -
4,187,283 -
620,000 -
- -
4,807,283 - -
79,541 -
6,750 -
270,246 -
431007.6 34794
787,545 34,794 -
216,960 -
- -
216,960 - -
4,588 -
1,727,328 - 234,000
245,800 -
1,973,128 - 234,000
2,962,536 -
21,220 -
78,832 -
143,383 83,383
92,407 32,407
615,490 -
327,947 267,947
1,279,279 383,737 -
44,000 -
57,653 -
145,983 -
- -
234,000 -
87,807 28,397
- -
569,443 28,397 -
- -
- -
- -
- - -
2,648,592 108,660
278,748 -
300,000 - 1,236,327
- -
- -
872,340 -
79,192 -
1,251,532 - 1,236,327
2,828,391 4,358
- -
72,310 -
1,110,112 -
36,000 -
95,800 -
246,703 -
4,389,316 4,358 -
74,199 -
350,840 -
5,580 -
- -
430,619 - -
- -
307,632 -
21,905 -
1,261,417 -
1,590,954 - -
245,977 214
93,350 -
- -
308,597 -
3,330 -
93,350 -
33,526 -
778,130 214 -
178,886 -
16,153,722 2,007,809
3,372,905 -
2,221,620 -
- -
- -
21,748,247 2,007,809 -
46,387 46,387
69,968 -
- -
- -
- -
348,795 128,221
3,600 -
468,750 174,608 -
66,179 66,179
190,854 -
- -
200 -
191,054 - -
13,490 -
- -
9,600 -
31,200 -
25,261 -
9,300 -
15,279 -
8,043 -
13,000 -
9,600 -
134,773 - -
49,089 -
31,792 -
2000
- -
232,500 -
- -
619,514
1,071,963 -
- -
1,923,977 - -
56,510,548 14,643,810
- -
387,472 -
9,300 -
1,900 -
1,236,327 -
- -
- -
2,685,127 2,686,468
4,320,126 2,686,468 -
- -
- -
- -
711,233
89,767
4,109,765 421,487 522,070
2,029,978 -
- -
6,940,743 421,487 522,070
- -
- -
- - -
2,327,062 - 1,284
2,231,944 -
4,490,705 1,377,133
204,686 -
- -
77,663 -
3,266,400 -
57,191 -
3,070,674 -
2,695,531 18,377
4,550,830 9,574
3,165,886 -
2,787,179 - 2,515
- -
724,115 -
12,736 -
2,558,545 5,783
520,374 -
- -
901,493 2,931
2,146,315 -
35,789,329 1,413,798 3,799
15,534,253 -
- -
963,669 -
16,497,922 - -
895,388 - 34,132
56,852 -
- -
609,840 -
371,779 -
1,116,773 32,856
975,779 45,312
1,507,564 37,204
- -
528,070
53,107 -
5,162,912 115,372 -
948,897 198
224 -
356,304 -
9,999 -
3,000 -
154,457 6,680
4,363 -
251,096 -
4,988 -
31,226 -
- -
1,747 -
188,060 -
105 -
102,702 7,760
6,998 -
67,976 -
166,903 -
12,700 -
169,200 -
406
115940.08
113,210 -
2,710,501 14,638 -
64,789,443 11,491,802 (4,985,564)
64,789,443 11,491,802 (4,985,564)
36,300,460 6,206,843 (568,459)

- 2,138,246 4,075,952 577,258
20,963,680 - (5,327,171)
5,709,497
158,034
- -
- -
4,749,524,574 4,688,204,404 4,688,204,404 35,734,870,120 35,734,870,115 688,830,518
- 5
688,830,518 8,230,836,720 8,230,836,715
5
Jun 30, 2021
Adjustment Closing
Credit Debit Credit
21,475,188 787,701,171 - 5,365,122,469 5,161,991,955

- - 203,130,514
38,348,274 840,099,370 -
17,106,157 - 5,081,337,647 1,386,262,541
2,729,301 - 3,695,075,106
47,856,531 -
46,179,281 -
- -
131,448,414 -
1,194,215,959 -
167,405 -
- -
- -
2,618,154 -
6,759,603 -
- -
11,457,041 -
39,925,147 -
8,829,914 -
- -
59,823,462 3,137,093,448 - 1,882,605,192
- -
- 364,585,421
- 2,002,385
- 1,974,995
- 19,983,622
- 20,072,151
- -
- - 1,251,741,240
- 672,835,223 773,501,121
15,240,657 - 115,731,717 478,240,119
- 174,838
- -
- -
- 6,632,627
- 2,619,709
- -
- -
- 31,348,183
- 8,394,501
- 8,132,884
15,240,657 - 1,254,488,256 1,882,605,192
2,787,496 -
- 1,383,827
- -
1 - -
207,211 - -
207,212 - - 5,284,759 1,887,889,951
- -
- -
- -
- -
- -
- -
- -
- -
- - -
- -
- -
108,660 5,284,759 -
108,660 5,284,759 -
- -
- -
- -
- 76,180,763 -
- 76,180,763 -
- -
62,940 -
15,220 59,070 -
- -
650,180 580,000 -
665,400 702,010 -
- -
- -
3,751,900 -
- 3,751,900 -
- -
- -
1 - -
14,964,057 - -
14,964,058 - - 699,396,130
- - 699,396,130
85,669,672 - 20,782,632
- - 678,613,498
- 223,852
- -
380,833,913 - 380,833,913
344,495,499
- -
111,425,683 - 380,901,249
- - 67,336
- -
69,771,832 94,306,180 -
205,731,863
- -
1 -
- 18,990
- -
8,384 -
10,723 -
- -
- -
27,384,416 - 27,384,534
69,771,832 699,638,972 242,842
34,026 -
- 88,994
- 645,592
(303,423) - 16,757,526
- 1,135,476 18,627,588
18,593,562
- 972,930
- 1,216,140
(303,423) 34,026 20,816,658
- -
- -
(6,907,273) 622,594,987 -
71,880,220 -
- -
86,919 -
1,068,858 -
- -
1,126,800 -
3,772,639 -
6,221,700 - 108,022,698
(685,573) 700,530,423 108,022,698 592,507,725
- -
- -
54,595 -
21,923 -
4,840 -
1,330 -
- -
40,000 -
4,200 -
4,193 -
- 131,081 -
- -
900,000 27,477,789 -
575,685 -
447,789 -
1,340,856 -
310,270 -
59,001 -
484,673 -
722,914 -
2,246,137 -
367,647 -
- -
321,952 -
16,745 -
697,600 -
78,401 -
292,940 -
2,493,795 -
- -
900,000 37,934,194 -
- -
2,566 -
- -
235,223 -
- 235,223 -
- -
- -
4,614,392 -
621,239 -
- 5,235,631 -
- -
15,257,144 -
- 15,257,144 -
- -
1,656,550 -
372,063 -
- 2,028,613 -
- -
684,723 -
45,044,546 - 24,950,784
3,862,238 -
- 49,591,507 - 110,415,959 -
- -
- -
6,666 -
- 781,274
- 512,215
- 14,771
3,934,525 -
602,354 -
1,139,968 -
170,520 -
1,794,021 -
2,685,383 -
2,715,639 -
3,239,959 -
3,820,740 -
3,048,587 -
4,563,116 -
4,462,433 -
2,514,039 -
4,260,332 -
9,490,335 -
15,582,925 -
10,638,065 -
9,683,969 -
581,431 -
12,840,443 -
7,628,392 -
9,927,730 -
18,066,057 -
1,437,735 -
8,144,347 -
23,547,910 -
44,453,541 -
35,799,772 -
41,174,162 -
- 287,955,096 1,308,260 245,472,674
- - 286,646,836
- -
160,984 -
171,142 -
986,047 -
526,172 -
922,393 -
89,375 -
2,904,354 -
106,621 -
75,695 -
1,641,473 -
630,300 -
5,636 -
45,200 -
1,091,112 -
1,463,794 -
779,370 -
455,371 -
1,740,406 -
221,559 -
296,979 -
2,155 -
164,469 -
772,872 -
509,809 -
137,956 -
102,220 -
204,698 -
128,776 -
- 16,336,938 -
- -
- -
- -
- -
- -
- -
371,122 -
674,638 -
- -
- -
- -
- 1,045,760 -
- -
717 -
7,913 -
1,582,330 -
80,156 -
292,113 -
- -
362,690 -
33,836 -
47,612 -
405,232 -
39,555 -
11,132 -
535 -
98,148 -
13,489 -
86,471 -
- -
- -
- -
100,000 -
2,332 -
33,645,168 - 7,880,945
2,770,668 -
- -
- 39,580,097 -
- -
536,152 - 219,026,593 (202,689,655) 219,026,593
- - 5,081,337,647
- - 3,476,048,513
- 350,000,000
- - 350,000,000
- -
- 39,898,526
- -
- 90,000,000
- -
- -
- -
- 4,254,100 283,784,822
- 31,122,305 59,481,301
- 6,740,000
- 1,300,000
- 7,540,833
- 4,322,856
- 4,322,333
- 4,322,333
- 4,322,334
- 11,845,000
- 11,795,000
- 11,280,900
- 5,000,000
- 7,540,834
- - 115,708,828
- -
- -
9,027,812 210,620,074 -
- 181,737,195
9,027,812 210,620,074 181,737,195
- -
- -
240,816,359 - 783,655,104
103,689,461 - 268,705,423
- 5,377,753
- 6,562,325
53,086,324 - 251,986,631
13,683,447 -
397,592,144 13,683,447 1,316,287,236 926,135,400 1,302,603,789
1,302,397,360
- - 206,429
- -
- -
- 18,732,812
169,290 - 169,290
- 5,548,000
2,715,507 1,360,445 -
1,464,573 - 40,722,030 19,145,560
2,754,695 -
- 41,526,113
4,180,080 4,284,430 106,528,955 130,517,146 102,244,525
- -
- -
- 100,529,818 148,979,818
5,110,528 24,797,428 - (35,417,886)
- - -
- 1,968,395
- - 1,968,395 -
- -
- -
- -
228,022 -
- 2,615,692 213,797,385
2,382,962 -
- 27,335,447
- 2,610,984 29,951,139 26,566,559 27,340,155

- - 205,317,070
- -
351,072 - 5,644,998
351,072 - 5,644,998 5,644,998 -
- - - (394,385)
- - (59,264)
- -
- - -
- -
- -
- 262,052
987,620 - 115,411
- 338,088
987,620 - 715,551
- -
220,824 388,219 -
- 74,319,119 73,930,900
220,824 388,219 74,319,119 73,930,900 -
- -
61,562,671 - 116,662,040
61,562,671 - 116,662,040
719,584 - 719,584
719,584 - 719,584
- -
8,081,386 - 172,289,876
- -
- -
- 7,138,586
- 62,039
- -
- 128,817
68,916 - 2,719,437
- 385,290
- 1,593,388
3,770 - 2,428,361
72,686 - 14,455,918
- -
- -
4,816 -
- 18,143,847
- 3,734,531
- 12,306,996
- 7,087,040
- 4,816 41,272,414
- -
- -
- 6,600
- -
- -
- 129,062
- 521,141
- 340,300
- 512,613
- -
- 265,347
- - 1,768,463
- -
- -
6,983,969 - 44,633,554
- 304,183
- 92,631
6,983,969 - 45,030,368
- -
- -
- - -
- -
- -
- 3,300
- 6,950
- 27,750
- 15,132
- 10,050
- 27,125
- 10,695
- 19,910
- 17,242
- 40,948
- 35,125
- 29,450
- - 243,677
- -
- -
- 35,270,932
- 4,496,799
- 801,974
- - 40,569,705
- -
- -
3,394,336 -
5,443,543 -
86,429 -
1,641,873 -
2,338,792 -
2,563,698 -
- 853,503
489,720 -
8,980,444 -
861,588 -
- 25,800,423 853,503
- -
- -
- 625,779
- - 625,779
- -
- -
- 3,280
- -
50,000 -
490,000 -
465,000 -
100,000 -
490,000 -
- 1,528,496
- 3,965,828
- 1,595,000 5,497,604
- -
- -
(5,327,171) - 15,081,149
5,709,497 - 16,510,435
- -
- -
- -
- -
- - -
- -
- -
- -
- -
- 1,546,892
- 311,794
- - 1,858,686
- -
- -
2,515 - 1,275,108
3,838,582 - 5,596,719
- -
- -
- -
- -
- 678,438
- -
- 929,226
3,841,097 - 8,479,491
- -
- -
- 1,485,445
- 620,540
- - 2,105,985
- -
- -
- 2,343,326
- 6,391,541
- - 8,734,867
- -
- -
- 37,424,461
- 4,574,565
- 33,285,434
- 30,000,000
- -
- 10,000,000
- 55,000,000
- 31,499,246
- - 201,783,706
- -
- -
- 26,000,000
- 28,755,202
- -
- 21,774,407
- 60,009,166
- -
- 50,000,000
- 1
- -
- -
- 19,257,635
- -
- 32,991,055
- -
- 1
- - 238,787,467
- -
- -
1 -
- -
- -
- -
- 155,750,000
- - 155,750,000
- -
- 4,395,654
- -
- 7,243,476
- 7,275,000
- 9,268,060
- -
- -
- -
- 16,039,654
- 5,605,000
- 4,498,900
- - 54,325,744
- -
- -
- -
- -
- -
- - -
- -
- 2,075,793,874
- 1,568,583
- - 2,077,362,457
- -
- -
38,922 -
- 38,922 -
- -
- -
- 8,639,238
- -
- -
16,389,218 - 16,389,218
- -
- 15,257
- -
- -
- 192,674
- -
- -
- 250,228
- -
- -
577,258 - 5,326,488
- 20,976,820 -
- -
- 2,358,118
- -
- -
1,250,000 -
- -
2,874,523 -
- -
- -
6,221,700 -
- -
- -
- -
- -
- -
- -
- -
1,524,115,368 -
- 1,963,327
21,051 -
- -
167,708,898 -
1,900,468 -
- -
- -
- 360,641,466
- 97,528,869
- 150,303,272
- 6,742,829
- 72,570,502
- 197,111,270
- 1,693,745,785 886,861,535 2,865,714,251 3,068,844,760
- -
- - 203,130,509
- -
1,395,240 - 756,084,691
- -
- -
- 1,395,240 -
- -
- -
2,711,060 -
336,032 -
1,263,388 -
13,420,712 -
- 17,731,192 -
- -
- -
50,201,009 -
2,181,775 -
6,899,770 -
- 60,862,725
- 9,063,266
- 59,282,554 69,925,991
- -
- -
628,000 -
91,698 11,620,926 -
40,909 -
959,849 -
4,244,757 -
385,397 -
1,250 -
- -
26,862,920 -
242,000 -
30,100 -
28,400 -
64,400 -
353,400 -
2,992,531 -
5,320,000 -
104,000 -
2,504,702 -
27,427,355 -
3,309,585 -
5,603,311 -
1,027,781 -
368,000 -
- -
20,058,902 -
6,672,344 -
- 63,737
602,189 -
- -
- -
99,480 -
13,077,142 -
1,443,696 -
87,293 -
96,039 -
91,698 136,256,658 63,737
- -
- -
100,199,674 -
2,755,076 -
4,948,388 -
482,424 -
1,407,880 -
17,814,347 -
1,259,443 -
793,897 -
453,507 -
40,862,345 -
291,694 -
614,303 -
49,460 -
21,336 -
121,809 -
3,958,691 -
- 176,034,274 -
- -
- -
- -
714,030 -
727,698 -
113,740 -
71,600 -
398,093 -
- 2,025,161 -
- -
- -
- 98,030
53,782,556 -
5,005,025 139,873,951 -
- -
1,476,367 -
5,005,025 195,132,874 98,030
- -
- -
2,370 -
- -
- -
112,043 -
206,295 -
199,224 -
29,154 -
- -
95,509 -
- -
75,145 -
79,700 -
6,881 -
- 806,321 -
- -
- -
2,753,589 -
941,342 -
530,044 -
232,965 -
60,000 -
- 4,517,940 -
- -
- -
40,621,624 -
65,462 -
16,320 -
- -
- 40,703,406 -
- -
- -
1,486,789 -
60,000 -
- 1,546,789 -
- -
- -
- -
3,226,869 -
- 3,226,869 -
1,282,709 -
- -
- -
16,200 -
11,416 -
- -
50,500 -
49,350 -
44,615 -
9,649 -
16,671 -
9,660 -
7,163 -
10,180 -
9,940 -
12,752 -
6,572 -
9,317 -
9,311 -
- -
- -
66,047 -
26,697 -
62,835 -
12,698 -
17,139 -
24,542 -
9,558 -
4,603 -
- -
6,045 -
4,855 -
- -
24,000 -
13,200 -
21,600 -
21,600 -
- 588,715 -
- -
- -
405,008 -
556,795 -
70,000 -
311,011 -
- 1,342,814 -
- -
- -
1,416,219 -
90,000 -
523,160 - -
523,160 1,506,219 -
- -
- -
216,533 -
182,651 -
125,230 -
221,172 -
157,602 -
271,398 -
261,394 -
70,060 -
211,515 -
383,685 -
485,268 - -
198,288 - -
198,288 - -
170,259 -
881,844 2,271,499 -
- -
- -
6,000 -
65,512,090 -
- -
- 65,518,090 -
- -
2,066,815 -
- -
- -
6,000 -
6,380 -
49,300 -
248,467 - -
339,906 - -
588,373 61,680 -
- -
- -
1,047,462 29,098,697 -
1,976,058 -
62,130,678 -
25,763 -
1,595,083 -
82,176 -
- -
152,590 -
173,874 -
2,049,428 -
120 -
1,047,462 97,284,467 -
- -
- -
- -
- -
- -
- -
1,348,000 -
603,923 3,973,357 -
- -
275,508 -
- -
307,600 -
367,139 -
41,070 5,986,580 -
127,200 -
55,037 -
168,750 -
23,692 -
23,669 -
110,833 -
63,532 -
74,382 -
56,020 -
93,350 -
72,420 -
24,810 -
- -
5,937,692 -
644,993 19,089,571 -
- -
- -
398,394 -
1,282,632 -
253,730 -
20,400 -
814,287 -
373,854 -
244,701 -
812,756 -
37,400 -
- -
210,000 -
- 4,448,154 -
- -
- -
28,577,884 -
24,876 -
43,584 -
3,000 -
193,569 -
11,599,662 -
931,096 -
25,200 -
9,000 -
- -
691,484 -
- -
1,680 -
5,184 -
821,119 -
- 42,927,338 -
- -
- -
282,500 -
- -
- -
554,554 -
- -
- -
10,528 -
4,085 -
10,798 -
10,388 -
36,180 -
13,144 -
439,252 -
- -
9,558 -
12,000 -
30,761 -
- -
21,645 -
26,481 -
15,076 -
10,044 -
9,558 -
10,018 -
9,618 -
14,599 -
18,066 -
14,652 -
16,619 -
15,824 -
19,200 -
40,620 -
19,200 -
30,000 -
47,865 -
24,000 -
9,600 -
31,200 -
9,600 -
9,600 -
- -
9,600 -
- -
23,787 -
17,788 -
24,438 -
18,021 -
6,000 -
8,800 -
5,500 -
7,200 -
6,075 -
2,500 -
675 -
- -
- -
- 1,130,163 -
- -
- -
307,632 - -
198,288 - -
198,288 - -
198,288 - -
902,496 - -
- -
- -
74,940 -
- -
- -
3,000 -
- -
114,834 -
- 117,834 -
- -
- -
235,053 -
68,553 -
645,260 -
102,911 -
- -
97,567 -
92,365 -
75,183 -
156,465 -
42,954 -
33,458 -
- -
- -
9,920 -
- 1,559,689 -
- -
- -
201,300 -
79,737 -
166,513 -
105,770 -
3,000 -
451,478 -
191,757 -
93,350 -
171,384 -
56,020 -
105,770 -
56,020 -
105,770 -
93,350 -
- -
105,770 -
248,674 -
12,000 -
113,065 -
105,770 -
588,414 -
64,600 -
24,500 -
- -
- -
56,020 -
91,230 -
- 3,291,262 -
- -
- -
- -
- -
- -
945,460 -
93,701 -
- 1,039,161 -
- -
- -
136,820 -
75,328 -
- 212,148 -
- -
- -
4,187,283 -
620,000 -
- -
- 4,807,283 -
- -
- -
79,541 -
6,750 -
270,246 -
396,214 -
- 752,751 -
- -
- -
216,960 -
- -
- 216,960 -
- -
- -
4,588 -
- -
- -
1,961,328 -
245,800 -
- 2,207,128 -
2,962,536 -
- -
21,220 -
78,832 -
60,000 -
60,000 -
615,490 -
60,000 -
- 895,542 -
- -
- -
44,000 -
57,653 -
145,983 - -
- -
234,000 - -
59,410 -
- -
379,983 161,063 -
- -
- -
- -
- -
- -
- - -
- -
- -
2,757,252 -
278,748 - 89,771,165 -
- -
- -
- -
- -
1,536,327 -
- -
- -
117,181 755,159 -
79,192 -
117,181 2,370,678 -
- -
- -
2,824,033 -
- -
72,310 -
1,110,112 -
36,000 -
95,800 -
246,703 -
- 4,384,958 -
- -
- -
74,199 -
350,840 -
5,580 -
- -
- 430,619 -
- -
- -
- -
307,632 -
21,905 -
1,261,417 -
- 1,590,954 -
- -
- -
245,763 -
93,350 -
- -
308,597 -
3,330 -
93,350 -
33,526 -
- 777,916 -
- -
- -
178,886 -
- -
- -
14,145,913 -
3,372,905 -
2,221,620 -
- -
- -
- 19,740,438 -
- -
- -
- -
69,968 -
- -
- -
- -
220,574 -
3,600 -
- 294,142 -
- -
- -
- -
- -
- -
190,854 -
- -
200 -
- 191,054 -
- -
- -
13,490 -
- -
9,600 -
31,200 -
25,261 -
9,300 -
15,279 -
8,043 -
13,000 -
9,600 -
- 134,773 -
49,089 -
31,792 -
- -
2,000 -
- -
- -
- -
232,500 -
- -
619,514 -
1,071,963 -
- -
- 1,923,977 -
- -
- -
41,866,738 -
- -
- -
- -
- -
387,472 -
9,300 -
1,900 -
1,236,327 - -
- -
- -
- 1,341
1,236,327 398,672 1,341 397,331
- -
- -
- -
- -
- -
- -
- -
- -
711,233 -
89,767 -
4,210,348 -
2,029,978 -
- -
- 7,041,326 -
- -
- -
- -
- -
- - -
- -
- -
2,328,346 -
2,231,944 -
3,113,572 -
204,686 -
- -
77,663 -
3,266,400 -
57,191 -
3,070,674 -
2,677,154 -
4,541,256 -
3,165,886 -
2,789,694 -
- -
724,115 -
12,736 -
2,552,762 -
520,374 -
- -
898,562 -
2,146,315 -
- 34,379,330 -
- -
- -
15,534,253 -
- -
963,669 -
- 16,497,922 -
- -
- -
59,264 870,256 -
- -
- -
56,852 -
- -
- -
- -
609,840 -
371,779 -
1,083,917 -
930,467 -
1,470,360 -
- -
528,070 -
53,107 -
- 5,047,540 -
- -
- -
44,000 904,699 -
224 -
356,304 -
9,999 -
3,000 -
147,777 -
4,363 -
251,096 -
4,988 -
31,226 -
- -
1,747 -
188,060 -
105 -
94,942 -
6,998 -
67,976 -
166,903 -
12,700 -
169,200 -
406 -
115,940 -
113,210 -
44,000 2,651,863 -
- -
- -
48,312,077 -
- -
- 48,312,077 -
- -
- -
- -
- -
29,525,158 -
- - 1,360,448 (3) 1,299,641
- - -
- -
- -
- -
- -
- -
- -
15,636,509 - 2,859,846,720 3,068,844,760
- - 208,998,040
5,709,497 -
158,034 -
- -
- -
- -
688,830,518 8,230,836,720 8,230,836,715
5
1,881,201,523 1,882,605,192
3,134,305,952
30,146,159 34,171,645 34,171,645 67378004

0
82,176
1976058
2,049,428
-
45,474,793 45,557,089
0
-
-
25,763
120
-
1,595,083
152,590
173,874 (1,921,547) 95,362,920
1,253,104,429 1,253,104,429 2507592685
1,682,417
1,403,669
466,279,733
380,833,913 125,781,616
708,943,573
380,833,913 255052297.130979 125,781,616 87111213.037 293,722,700
699,396,130
17,908,109
101225313 700,530,423
365,491,040 108,022,698
(575,685) 592,507,725
54,910,449
54337330
(573,119) 575685
5,081,337,647 1,386,262,541 3,695,075,106
43,949,957
-
1,605,289,134
3,076,804,295
1,463,071,036
1,403,589,735
(28,882,879)
-48166062
(19,283,183)
169,290
Int Booked Difference
836,124 929,520
34,132 59,264
870,256 After entry difference
870,256 -
Payments
(3,176,556)
(129,672)
(3,306,228)
264,713 June 2020 payment made in current year
74,629,641
-
2,077,323,535 2,077,323,535
41,866,738
2,035,456,797
106081 16,283,137
106081 (90,824)
58720239 (58,470,011)
-
2,504,328,071 956,949,293 1,547,378,778 773,689,389
405,651
1.4971%
69,856,404
a a
Dr Cr
240,816,359 21,475,188
- -
183,514,245 38,348,274
8,747,330 -
- -
1,157,207 -
- -
- -
- -
1,398,000 -
242,101,450 2,155,000
- -
- -
- -
- -
- -
89,034 -
- -
- -
2,730,640 -
5,303,511 -
25,000 25,000
- -
685,882,776 62,003,462
- -
1,079,379 30,146,159
- -
- 82,176
- 1,976,058
- 2,049,428
- -
- -
1,415,228 46,890,021
- 15,240,657
- -
- -
- -
- 25,763
- 120
- -
- -
- 1,595,083
- 152,590
- 173,874
2,494,607 98,331,929
- -
- 278,748
- -
139,878,270 140,255,572
140,085,481 140,462,783
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
316,940 2,757,252
316,940 2,757,252
- -
- -
- -
76,180,763 -
76,180,763 -
- -
2,880 22,320
3,440 35,600
- -
652,780 793,510
659,100 851,430
- -
- -
- -
- -
- -
- -
- 1
36,065,749 50,607,090
36,065,749 50,607,091
- -
107,710,325 55,470,970
- -
4,607,518,576 4,607,518,575
- -
- -
2,103,603,658 2,052,723,903
- -
- -
1,493,014,426 1,536,633,074
- -
- -
3,113,929,814 3,153,677,348
- -
- -
- -
- -
- -
- -
- -
- -
- -
89,527,873 104,286,903
- -
11,515,304,672 11,510,310,773
- -
- -
- -
- -
- 2,874,523
- -
- -
- -
- 2,874,523
- -
- -
2,452,331,593 2,219,070,797
1,000,000 1,000,000
26,337,793 26,360,204
- -
- -
- -
- -
- -
- 6,221,700
2,479,669,386 2,252,652,701
- -
- -
509,304 529,304
15,950 -
- -
- -
- 1,398,121
- -
- -
- -
525,254 1,927,425
- -
770,536,628 788,962,639
- -
2,094,533 1,673,316
1,024,268 903,395
721,721 702,777
5,655,208 5,868,025
5,345,896 5,384,635
72,098,604 70,940,399
2,276,679 2,212,783
- -
2,278,905 2,213,450
844,401 596,701
16,440,700 15,875,700
37,336 -
778,841 830,000
9,486,505 10,436,479
200,044,581 200,040,762
1,089,664,806 1,106,641,061
- -
1,040,519,608 1,040,519,608
- -
7,048,497 7,468,590
7,048,497 7,468,590
- -
- -
- 115,000
- -
- 115,000
- -
159,753 823,190
159,753 823,190
- -
1,246,066 1,226,406
11,257,893 12,857,820
- -
5,720,092 5,363,345
15,468,374 18,690,028
25,116,166 24,118,835
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
41,474,603 300,441
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
154,681,435 154,881,634
51,753,987 51,602,256
364,198 364,198
- -
51,879,150 51,879,150
258,678,770 258,727,238
- -
1,110,670 1,199,568
79,572,784 79,709,886
626,542,790 663,442,162
377,224,172 377,152,370
808,239,440 808,459,215
- -
34,099,880 33,762,933
888,660,139 888,745,291
182,542,544 184,950,512
177,263,776 176,961,491
21,000 -
411,605,567 411,631,752
1,450,000 1,450,000
191,241,947 191,730,894
19,746,616 19,754,388
121,558,130 121,622,793
- -
- -
- -
153,692,663 153,692,663
312,812,716 274,233,167
- -
4,391,035,502 4,389,376,753
- -
11,491,802 59,803,879
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
8,275,000 -
- -
- -
- -
- -
- 8,300,000
- 8,250,000
8,275,000 -
16,550,000 16,550,000
- -
- -
2,255,874,006 2,393,262,592
2,373,979,409 2,255,874,006
4,629,853,415 4,649,136,598
- -
- -
- 240,816,359
10,835,064 103,689,461
- -
- -
10,495,121 53,292,754
- -
21,330,185 397,798,574
- -
- -
- -
17,304,001 -
781,104 1,237,365 456,261
5,136,000 -
5,389,215 9,189,229
14,300,000 -
66,804,656 38,532,035
- -
- -
48,450,000 -
3,110,726 13,731,184
- -
5,888,180 7,856,575
- -
- -
- -
- 67,560
- -
1,693,964 2,400,000
- -
1,693,964 2,467,560
- -
- -
3,630,205 1,246,460
3,630,205 1,246,460
- -
- -
- -
- -
- -
- -
419,997 -
3,534,558 987,620
1,006,998 56,852
4,961,553 1,044,472
- -
- 220,824
6,788,391 21,100,024
6,788,391 21,320,848
- - 14,532,457
12,192,119 105,225,419
12,192,119 105,225,419
- 719,584
- 719,584
- -
1,204,160,634 1,240,522,029
- -
- -
256,534,770 256,544,946
791,479 777,038
- -
553,020 624,713
6,074,010 5,646,642
- -
20,033,724 20,239,794
10,966,954 9,426,786
294,953,957 293,259,919
- -
- -
- -
247,600,211 246,489,590
29,948,274 32,575,623
10,814,174 18,998,844
- -
288,362,659 298,064,057
- -
- -
- -
- -
- -
21,344 129,062
6,670,955 6,676,647
4,086,394 4,080,974
5,923,468 5,841,200
1,432,043 734,278
18,134,204 17,462,161
- -
- -
1,727,735 11,381,921
- -
- -
1,727,735 11,381,921
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
311,614,713 347,615,999
6,134,747 6,104,580
189,946,867 166,276,614
507,696,327 519,997,193
- -
- -
136,876,165 117,476,415
35,755,920 33,017,435
- -
- -
11,021,059 8,027,352
8,955,776 8,558,867
4,505,736 5,339,690
- -
969,999 -
- -
198,084,655 172,419,759
- -
- -
309,513 820,722
309,513 820,722
- -
- -
- -
- -
- -
- -
- -
- -
- -
5,953,917 6,118,374
17,432,718 19,087,883
23,386,635 25,206,257
- -
- -
9,360,652 15,636,509
- 5,709,497
- -
- -
900,000 900,000
- -
900,000 900,000
- -
- -
- -
- -
4,416,259 5,696,945
3,649,533 2,278,557
8,065,792 7,975,502
- -
- -
5,191,936 4,801,564
13,079,796 15,782,042
538,625 423,982
- -
- -
- -
- -
5,350,163 5,020,531
27,323,079 29,103,768
- -
- -
14,792,972 7,677,678
1,021,843 999,242
15,814,815 8,676,920
- -
- -
- -
- -
- -
- -
- -
458,625,725 484,633,361
955,350,254 926,926,929
149,999,703 153,285,139
135,000,000 150,000,000
- -
50,000,000 50,000,000
330,000,002 330,000,002
1,014,899,100 1,040,890,765
3,093,874,784 3,135,736,196
- -
- -
81,600,000 81,600,000
143,837,875 141,971,267
77,571,889 77,571,889
55,418,961 55,418,961
- -
19,257,635 19,257,635
55,204,709 57,610,081
- -
- -
17,375,465 7,834,008
620,883,937 720,964,617
- -
- -
285,850,000 285,850,000
- -
- -
31,500,000 31,500,000
5,000,000 5,000,000
36,500,000 36,500,000
- -
34,500,000 9,500,000
- -
4,870,878 8,275,000
4,886,125 8,275,000
3,725,479 -
8,300,000 -
8,250,000 -
- -
- -
- -
64,532,482 26,050,000
- -
- -
- -
- -
11,000,000 11,000,000
- -
134,982 2,075,928,856
- 1,568,583
134,982 2,077,497,439
- -
- -
38,922 -
38,922 -
- -
- -
- 8,639,238
- -
- -
- 16,389,218
- -
1,797,150 1,812,407
- -
- -
236,631 429,305
- -
- -
- 250,228
- -
- -
- 5,326,488
24,025,823 3,049,003
- -
- 2,358,118
- -
- -
1,250,000 -
- -
2,874,523 -
- -
- -
6,221,700 -
- -
- -
- -
- -
- -
- -
- -
1,524,587,808 472,440
- 1,963,327
3,166,442 3,145,391
32,809,288 32,809,288
192,106,383 24,397,485
1,900,468 -
- -
- -
- 360,641,466
- 97,528,869
- 150,303,272
- 6,742,829
- 72,570,502
- 197,111,270
1,754,570,389 947,686,139
- -
- -
- -
1,395,240 -
- -
1,395,240 -
- -
- -
2,711,060 -
338,532 2,500
1,263,388 -
17,080,501 3,659,789
21,393,481 3,662,289
- -
- -
71,881,971 21,680,962
2,181,775 -
15,503,570 8,603,800
- 60,862,725
- 9,063,266
89,567,316 100,210,753
- -
- -
628,000 -
11,712,624 91,698
40,909 -
7,755,629 6,795,780
4,634,250 389,493
385,397 -
- -
26,862,920 -
242,000 -
30,100 -
28,400 -
64,400 -
353,400 -
2,992,931 400
5,320,000 -
104,000 -
27,427,355 -
3,320,665 11,080
6,108,692 505,381
1,027,781 -
368,000 -
- -
20,058,902 -
6,672,344 -
21,279 85,016
602,189 -
- -
- -
99,480 -
13,077,142 -
1,443,696 -
87,293 -
96,039 -
144,071,769 7,878,848
- -
- -
113,741,846 13,542,172
2,755,076 -
4,948,388 -
482,424 -
1,407,880 -
17,814,347 -
1,259,443 -
793,897 -
453,507 -
#REF! 80,183
291,694 -
614,303 -
49,460 -
21,336 -
121,809 -
3,958,691 -
189,656,629 13,622,355
- -
- -
- -
716,130 2,100
727,698 -
113,740 -
71,600 -
398,093 -
2,027,261 2,100
- -
- -
69,900 167,930
59,705,710 5,923,154
157,606,042 17,732,091
- -
1,476,367 -
218,858,019 23,823,175
- -
- -
27,370 25,000
- -
- -
129,882 17,839
206,295 -
199,224 -
29,154 -
- -
110,109 14,600
- -
75,145 -
79,700 -
6,881 -
863,760 57,439
- -
- -
2,753,589 -
941,342 -
530,044 -
232,965 -
60,000 -
4,517,940 -
- -
- -
50,738,092 10,116,468
16,320 -
- -
50,819,874 10,116,468
- -
- -
1,490,454 3,665
60,000 -
1,550,454 3,665
- -
- -
- -
3,226,869 -
3,226,869 -
- -
- -
1,282,709 -
- -
- -
16,200 -
11,416 -
- -
50,500 -
49,350 -
44,615 -
9,951 302
16,671 -
9,684 24
7,166 3
10,180 -
9,940 -
13,664 912
6,575 3
9,317 -
9,316 5
- -
- -
66,047 -
26,697 -
62,835 -
12,698 -
17,139 -
24,542 -
9,558 -
4,603 -
6,045 -
4,855 -
- -
24,000 -
13,200 -
21,600 -
21,600 -
589,964 1,249
- -
- -
407,888 2,880
556,795 -
311,011 -
1,345,694 2,880
- -
- -
2,029,379 523,160
- -
- -
218,903 2,370
182,651 -
125,230 -
221,172 -
157,602 -
271,398 -
290,548 29,154
70,060 -
212,915 1,400
383,685 -
485,268 485,268
198,288 198,288
198,288 198,288
170,259 -
3,186,267 914,768
- -
- -
6,000 -
66,554,090 1,042,000
- -
66,560,090 1,042,000
- -
2,067,195 380
- -
- -
6,000 -
6,380 -
50,500 1,200
273,467 273,467
339,906 339,906
676,253 614,573
- -
- -
30,146,159 1,047,462
1,976,058 -
62,130,678 -
25,763 -
1,595,083 -
82,176 -
- -
152,590 -
173,874 -
2,049,428 -
120 -
98,331,929 1,047,462
- -
- -
- -
- -
- -
- -
1,348,000 -
4,577,280 603,923
275,508 -
- -
307,600 -
367,139 -
6,027,650 41,070
127,200 -
55,037 -
168,750 -
23,669 -
110,833 -
63,532 -
74,622 240
56,020 -
93,350 -
- -
11,281,152 5,343,460
25,078,264 5,988,693
- -
- -
420,384 21,990
1,282,632 -
253,730 -
20,400 -
838,823 24,536
373,854 -
244,701 -
812,756 -
37,400 -
- -
4,494,680 46,526
- -
- -
28,583,091 5,207
24,876 -
43,584 -
3,000 -
193,569 -
11,599,662 -
931,096 -
25,200 -
9,000 -
- -
740,484 49,000
- -
1,680 -
5,184 -
821,119 -
42,981,545 54,207
- -
- -
308,524 26,024
- -
- -
599,554 45,000
- -
- -
10,528 -
4,085 -
10,798 -
10,388 -
36,180 -
13,144 -
439,252 -
- -
9,558 -
12,000 -
30,761 -
21,645 -
26,481 -
15,076 -
10,044 -
9,558 -
10,018 -
9,618 -
14,599 -
18,066 -
14,652 -
16,619 -
15,824 -
19,200 -
40,620 -
19,200 -
30,000 -
47,865 -
24,000 -
9,600 -
31,200 -
9,600 -
9,600 -
- -
9,600 -
- -
23,787 -
17,788 -
24,438 -
18,021 -
- -
- -
1,130,163 -
- -
- -
307,632 307,632
198,288 198,288
198,288 198,288
198,288 198,288
902,496 902,496
- -
- -
74,940 -
- -
- -
3,000 -
- -
137,834 23,000
140,834 23,000
- -
- -
235,053 -
68,553 -
645,260 -
186,690 83,779
- -
97,567 -
92,365 -
75,183 -
156,465 -
42,954 -
38,449 4,991
- -
- -
9,920 -
1,648,459 88,770
- -
- -
201,300 -
79,737 -
168,713 2,200
105,770 -
3,000 -
451,478 -
206,186 14,429
93,350 -
178,250 6,866
56,020 -
105,770 -
56,020 -
105,770 -
93,350 -
- -
105,770 -
248,674 -
12,000 -
113,065 -
105,770 -
588,414 -
64,600 -
24,500 -
- -
- -
56,020 -
91,230 -
3,314,757 23,495
- -
- -
1,257,386 1,257,386
- -
- -
945,460 -
93,701 -
1,039,161 -
- -
- -
136,820 -
75,328 -
212,148 -
- -
- -
4,187,283 -
620,000 -
- -
4,807,283 -
- -
- -
79,541 -
270,246 -
787,545 34,794
- -
- -
216,960 -
- -
216,960 -
- -
- -
4,588 -
- -
- -
1,961,328 -
245,800 -
2,207,128 -
2,962,536 -
- -
21,220 -
78,832 -
143,383 83,383
92,407 32,407
615,490 -
327,947 267,947
1,279,279 383,737
- -
- -
44,000 -
57,653 -
145,983 145,983
- -
87,807 28,397
- -
569,443 408,380
- -
- -
- -
- -
- -
- -
- -
- -
278,748 -
- -
- -
- -
- -
1,536,327 -
- -
872,340 117,181
79,192 -
2,487,859 117,181
- -
- -
2,828,391 4,358
- -
72,310 -
1,110,112 -
36,000 -
95,800 -
246,703 -
4,389,316 4,358
- -
- -
74,199 -
350,840 -
5,580 -
- -
430,619 -
- -
- -
- -
307,632 -
21,905 -
1,261,417 -
1,590,954 -
- -
- -
245,977 214
93,350 -
- -
308,597 -
93,350 -
33,526 -
778,130 214
- -
- -
178,886 -
- -
- -
16,153,722 2,007,809
3,372,905 -
2,221,620 -
- -
- -
21,748,247 2,007,809
- -
- -
46,387 46,387
69,968 -
- -
- -
- -
348,795 128,221
3,600 -
468,750 174,608
- -
- -
66,179 66,179
- -
- -
190,854 -
- -
200 -
191,054 -
- -
- -
13,490 -
- -
9,600 -
31,200 -
25,261 -
15,279 -
8,043 -
13,000 -
9,600 -
134,773 -
49,089 -
31,792 -
- -
- -
- -
- -
232,500 -
- -
1,071,963 -
- -
1,923,977 -
- -
- -
56,510,548 14,643,810
- -
- -
- -
387,472 -
9,300 -
1,900 -
1,236,327 1,236,327
- -
- -
2,685,127 2,686,468
4,320,126 3,922,795
- -
- -
- -
- -
- -
- -
- -
- -
2,029,978 -
- -
7,462,813 421,487
- -
- -
- -
- -
- -
- -
- -
2,328,346 -
2,231,944 -
4,490,705 1,377,133
204,686 -
- -
77,663 -
3,070,674 -
2,695,531 18,377
4,550,830 9,574
2,789,694 -
- -
724,115 -
12,736 -
2,558,545 5,783
520,374 -
- -
901,493 2,931
2,146,315 -
35,793,128 1,413,798
- -
- -
15,534,253 -
- -
963,669 -
16,497,922 -
- -
- -
929,520 59,264
- -
- -
56,852 -
- -
- -
- -
609,840 -
371,779 -
1,116,773 32,856
- -
53,107 -
5,162,912 115,372
- -
- -
948,897 44,198
224 -
356,304 -
9,999 -
3,000 -
154,457 6,680
4,363 -
251,096 -
4,988 -
31,226 -
- -
1,747 -
188,060 -
105 -
102,702 7,760
6,998 -
67,976 -
166,903 -
12,700 -
169,200 -
113,210 -
2,710,501 58,638
- -
- -
59,803,879 11,491,802
- -
59,803,879 11,491,802
- -
- -
- -
- -
35,732,001 6,206,843
- -
- -
- -
- -
- -
15,636,509 -
- -
5,709,497 -
158,034 -
- -
- -
- -
a a
Code Description Dr Cr
A101111001 VEHICLES 25,000

C101331001 COMPUTER CHARGES 25,000
L103011001 DEFERRED TAXATION 62,790

OCI - actuary gain/loss 158,034
L125041001 GRATUITY NEW SCHEME (JAN/2003) 220,824

C101061002 GRATUITY-COS 91,698

L104011001 GRATUITY SCHEME PAYABLE 827,867
E204011002 BUILDING 3,356,859

E204011005 PLANT & MACHINERY 5,670,953
E203011001 UNAPPROPRIATED PROFIT 9,027,812

E204011002 BUILDING 189,415
E204011005 PLANT & MACHINERY 211,355
A101011001 LAND 240,816,359

A101021001 FACTORY BUILDING 144,622,823
A101051001 PLANT & MACHINERY 73,883,322
E204011001 LAND 240,816,359
E204011002 BUILDING 103,500,046
L103011001 DEFERRED TAXATION 41,122,777
L201021006 DEFERRED INCOME - GOVERNMENT GR 577,258

R201041002 Amortization 577,258
C101251001 Testing and Inspection 523,160

C101141005 Rent, Rates and Taxes 523,160
L202241001 Bills Payable 5,005,025

C101101002 Sui Gas Expense 5,005,025
A207081001 SILK BANK LIMITED MAIN BRANCH LAHO 3,770

L202251005 FINAL SETT.PAYABLE 3,770
A207081001 SILK BANK LIMITED MAIN BRANCH LAHO 20,000

L202331001 TRADE ACCOUNTS PAYABLE 20,000
VI002427 FIB CLAIM (EFU)
O103011004 MARKUP HBL RF 1,284

L202191004 ACCRUED INTEREST BOP 1,284
O103011008 MARKUP FBL RF 2,515
L202191008 ACCRUED INTEREST FBL 2,515
A101161001 Right of use assets 316,940

L101041001 FIRST PUNJAB MODARABA (Head office rent) 316,940
O101221001 DEP. ON PLANT & MACHINERY - lease 108,660

A101161001 Right of use assets 108,660
O103071002 MARKUP ON LEASE MACHINREY 34,132

L101041001 FIRST PUNJAB MODARABA 34,132

O103071002 MARKUP ON LEASE MACHINREY 59,264
A101051001 PLANT & MACHINERY 207,212

A105041001 CWIP - SOLAR PROJECT 207,211
A105021002 CAPITAL W.I.P. BUILDING 1
A205051002 RECOVERABLE FROM EMPLOYEES 159,753

L104011001 GRATUITY SCHEME PAYABLE 159,753
O104011001 CURRENT INCOME TAX EXPENSES (4,985,564)

L202221001 PROVISION FOR TAXATION (4,985,564)
O104021001 DEFERRED INCOME TAX EXPENSES (568,459)

L103011001 DEFERRED TAXATION (568,459)
Workers welfare fund 5,709,497

PROVISION FOR WWF 5,709,497
O157011002 Workers' (profit) participation fund (5,327,171)

L202081001 UNPAID WORKERS PROFIT PARTICIPATION FUND (5,327,171)
L101011008 HBL TERM LOAN - RFWS SCHEME 3,315,228

L202191004 ACCRUED INTEREST HBL 3,315,228
L101011009 HBL RFWS IAS 39 impact 1,464,573

L101011008 HBL TERM LOAN - RFWS SCHEME 1,464,573
L201021006 DEFERRED INCOME - GOVERNMENT GRANT
O103061007 MARKUP ON HBL RFWS SCHEME 522,070

L202191004 ACCRUED INTEREST HBL 522,070
O103081001 UNWINDING COST - PF 2,715,507

L101011009 HBL RFWS IAS 39 impact 2,715,507
O103081001 UNWINDING COST - PF 143,793
L101021002 PF LOAN-IAS 39 impact 5,110,528
L101011007 NBP DF-II LOAN - IAS 39 impact 251,246
L123011003 SCB-DEMAND FINANCE-IAS 39 impact 4,715,489
R201041002 AMORTIZATION IAS -39

O103081001 UNWINDING COST - PF -
O101111002 AUDIT FEES 59,996

L202241013 ACCRUED MISC.EXPENSES 59,996
L202071001 BONUS PAYABLE 41,070

A205081007 ADV SALES TAX-SERVICES 44,000
O101011012 BONUS EMPLOYEES 41,070
O103021001 BANK CHARGES - OTHER BANKS 44,000
A204191002 INSULATOR RECEIVABLE FOREIGN 6,983,969

L203011001 ADVANCE FROM CUSTOMERS 6,983,969
L203011001 ADVANCE FROM CUSTOMERS (6,907,273)
A204191001 INSULATOR RECEIVABLE LOCAL (6,907,273)
A202001001 SS INVENTORY 14,964,057

A202001003 GOODS CLEARING ACCOUNT 14,964,057
A202021010 W.I.P INVENTORY CLEARING 1

A202021008 W.I.P- RAW MATERIAL REJECT 1
A202021009 ADJUSTMENT OF WORK IN PROCESS 69,771,832

A202001004 W.I.P INVENTORY 69,771,832
L203011001 ADVANCE FROM CUSTOMERS 719,584

new code Long term deposits 719,584

L202221001 PROVISION FOR TAXATION 5,521,716
new code investment properties 43,030,862

A102011001 ACCUM. DEP.FACTORY BUILDING 31,917
A101011001 LAND 21,475,188


new code Fair value gain on investment properties 16,389,218
A102011001 ACCUM. DEP.FACTORY BUILDING 1,047,462

C101351001 DEPRECIATION ON FACTORY BUILDING 1,047,462
C101351003 DEPRECIATION ON PLANT & MACHINERY 15,240,657

A102131001 ACCUM.DEP. MACH. SPARES (DEFF) 15,240,657
A106021001 MOTOR CYCLE LOAN 2,880

A106031001 CYCLE LOAN 3,440
A106051001 GRATUITY LOAN 2,600
L202251005 FINAL SETTLEMENT PAYABLE 665,400

A106031001 CYCLE LOAN 15,220
A205091001 ADVANCES TO SUPPLIERS 8,061,386

L202331001 TRADE ACCOUNTS PAYABLE 8,061,386
L202331001 TRADE ACCOUNTS PAYABLE 900,000
A205091001 ADVANCES TO SUPPLIERS 900,000
C101061002 GRATUITY 721,104

O101011002 GRATUITY 603,923
O102011006 GRATUITY 117,181
C101221001 REPAIR& MAINTENANCE OF TOOLS & E 248,467

C101061027 DAILY WAGES 339,906
C101341001 STIPEND 339,906
O101051001 PRINTING & STATIONERY 145,983

O101031001 FEE & TAXES 234,000
O101191002 NEWSPAPER & PERIODICALS 145,983
O101191013 TRAINING EXPENSES 234,000
O102011001 SALES SALARIES 1,236,327

O102231009 KARACHI OFFICE EXPENSE 1,236,327
O101251001 PROVISION FOR BAD DEBTS / STOCK (303,423)
A202061001 FINISHED GOODS PROVISION OB.ST (303,423)
C101071007 CONVEYANCE ALLOWANCE 881,844

C101092001 CAR INSTALLMENT RIZWAN ALSAM 485,268
C101092002 CAR INSTALLMENT SAMMAR RASHEED 198,288
C101092003 CAR INSTALLMENT FAHAD RASHEED 198,288
O101171007 CONVEYANCE ALLOWANCE 902,496

O101081001 CAR INSTALLMENT RIAZ AHMAD - CFO 307,632
O101081002 CAR INSTALLMENT MUHAMMAD YOUSAF BHATTI 198,288
O101081003 CAR INSTALLMENT RANA MASOOD ANWAR 198,288
O101081004 CAR INSTALLMENT ABDUL REHMAN 198,288
ECL 6,221,700
A204241001 PROVISION FOR BAD DEBTS 6,221,700
Reason Suggested by
Expense out Arooj
Actuary Loss charg to OCI Sahar
Expense decrease adjustment as 3no ma krna

Sahar
per actuary report
-2273782
Sahar
Closing balance adjustment entry
Incremental depreciation on rev

Sahar
surplus adj
Rate adjustment rev surplus adj Sahar
271,790,188
Booking of further revaluation 189,829,757
surplus in accordance with 73,883,322
Sahar
revaluation report as on June 30,
2021.
Further 3 months amortization of

(govt grant till march 2021 was
Sahar
already booked in trial)
Reclassification Shamsa
Shamsa
Un-presented cheques not

presented for a period exceeding 6 minahil
months.
Un-presented cheques not

presented for a period exceeding 6 minahil
months.
Interest Accrue further zainab

Interest Accrue further zainab
Booking of Extra space rent ROUA

Sahar
& Lease lia
Booking of Extra space rent Sahar

Depreciation
Booking of Extra space rent Payment enty already booked

Sahar
finance cost on lease lia
Adj of Interest over booked during Sahar

the period
transfer from CWIP to FA Rubab
159,753
zainab
Already booked 53,297,641

As per working attached Fahad actual 48,312,077
(4,985,564) -

(568,459) -
Already booked
5,709,497 -

(5,327,171) -
shifting of interest portion to

Fahad
separate account
Reclassification Fahad
3,837,298
Interest less booked on HBL Fahad
Unwinding of loan portion Fahad

As per working Zainab
Untraceable entry
To reconcile expense with EL Fahad
WRONGLY DEBITED NOW

CORRECTED IN JUN-21; ADJ. OF
Ahmad
SPICO LOAN PROCESSING
CHGS. PS#20225
13248354
Transfer to advances from debtors Sahar
Merging two GL codes for

Fahad
simplification
Merging two GL codes for

Fahad
simplification
Reclassification to reconcile
finished goods with SAP BOM's Fahad
movement
Transfer of deposit received from

Fahad
TCS
Reconciling differences in provision

for tax and deferred tax due to Fahad
mismatch in entries
Transfer of premises given on rent

Fahad
to TCS from PPE
Transfer of additions made in TCS 16760683

building during the year to Fahad
investment properties
Transfer of additions made in TCS
building during the year to Fahad
investment properties
Revaluation gain on investment

Fahad
properties
Reversal of depreciation on TCS

Fahad
building charged during the year
Shifting of stores and spares on

Fahad
straight line basis
Negative balances transferred to

Minahil
Accrued Liabilities.
Static balances transferred to Final

Minahil
Settlement
2,143,304
Debit balance entry; Net off entry 934,689
of and Precision Instrumentation Rubab -131080
Co. Discussed with client
10,899,822 11,620,926 721,104

To match classification with
Fahad 4,577,280 3,973,357 (603,923)
actuary report
872,340 755,159 (117,181)
Reclassification to minimize
Fahad
miscellaneous
Fahad
miscellaneous
Fahad
miscellaneous
NRV Adjustment for FGI000614;
EM-44. Total adjustment required
is Rs. 643,814; adjustment already
posted in HY is Rs. 508,819. Now,
further adjustment for differential
Sahar
amount being passed. NRV of
FGI000206 adjusted because
certain quantity from HY sold now;
adjusted for remaining closing
quantity
As per last year Rubab

C101061002 GRATUITY-COS ###
O101011002 GRATUITY-Admin ###
###
### ###
L202251005 FINAL SETTLEMENT PAYABLE benfits paiud
Booked in trial As per rev

(869,906) (680,491) (189,415)
(970,666) (759,311) (211,355)
580,942
Page 35 of 46
EMCO Industries Limited
Year Ended: June 30, 2019 #REF!
Adjusting Entries: #REF! #REF!
Debit Credit
Serial #. Account Code Account Description
Rupees Rupees
1 C101061002 GRATUITY-COS 371,482

O101011002 GRATUITY-Admin 308,849
O102011006 GRATUITY-Selling 62,639
E205011001 OCI-P&L -
L125041001 GRATUITY NEW SCHEME (JAN/2003) -
2 L125041001 GRATUITY NEW SCHEME (JAN/2003) 791,483

OCI - actuary gain 566,429

3 A202021009 ADJUSTMENT OF WORK IN PROCESS 67,693,126

A202001004 W.I.P INVENTORY 17,532,477
ADJUSTMENT OF WORK IN PROCESS 50,160,649
4 A205091001 ADVANCES TO SUPPLIERS 13,682,649

5 Provision for doubtful advances

ADVANCES TO SUPPLIERS - Doubtful -
6 O101251001 PROVISION FOR BAD DEBTS

A204241001 PROVISION FOR BAD DEBTS -
7 A204191001 INSULATOR RECEIVABLE LOCAL 14,150,801

L203011001 ADVANCE FROM CUSTOMERS 14,150,801
8 O101111002 AUDIT FEES 49,996

Horwath Hussain Chaudhury & Co. 49,996
9 L201031002 FBL FIM ACCOUNT 100

L201031004 FBL - FATR 101
R201061001 LIABILITIES NO LONGER PAYABLE 201
10 L123011001 SCB-DEMAND FINANCE 970,550

O103011001 MARKUP SCB BANK RF 970,550
11 L202241013 ACCRUED MISC.EXPENSES 1,037,572

L104011001 GRATUITY SCHEME PAYABLE 1,037,572
12 L125041001 GRATUITY NEW SCHEME (JAN/2003) 4,658,884

L202251005 FINAL SETTLEMENT PAYABLE 4,658,884
13 A205091001 ADVANCES TO SUPPLIERS 10,223,460

A202001005 STOCK IN TRANSIT 10,223,460
14 A202001005 STOCK IN TRANSIT 42,143,446

A205091001 ADVANCES TO SUPPLIERS 28,720,278
A205091002 COLLECTOR OF CUSTOM 13,423,168
15 C101301001 REPAIR OFFICE EQUIPMENT 200,161

16 L202331001 TRADE ACCOUNTS PAYABLE 2,891,500

L202241013 ACCRUED MISC.EXPENSES 2,891,500
17 C101071010 OTHERS 324,257

C101341001 STIPEND 324,257
18 C101071010 OTHERS 881,844

C101092001 CAR INSTALLMENT RIZWAN ALSAM 485,268
C101092002 CAR INSTALLMENT SAMMAR RASHEED 198,288
C101092003 CAR INSTALLMENT FAHAD RASHEED 198,288
19 O101171007 CONVEYANCE ALLOWANCE 902,496

O101081001 CAR INSTALLMENT RIAZ AHMAD - CFO 307,632
O101081002 CAR INSTALLMENT MUHAMMAD YOUSAF BHATTI 198,288
O101081003 CAR INSTALLMENT RANA MASOOD ANWAR 198,288
O101081004 CAR INSTALLMENT ABDUL REHMAN 198,288
20 O102011016 SAQIB AZIZ CH M(S&M) 307,632

O102151001 CAR INSTALLMENT SAQIB AZIZ 307,632
21 C101301001 REPAIR OFFICE EQUIPMENT 181,695

A101071001 OFFICE EQUIPMENT 181,695
22 A102061001 ACCUM.DEP. OFFICE EQUIPTMENTS 28,663

C101351005 DEPRECIATION ON OFFICE EQUIPMENTS 28,663
23 C101211001 REPAIR & MAINTENANCE MACHINERY 119,161

A101051001 PLANT & MACHINERY 119,161
24 A102041001 ACCUM.DEP.PLANT & MACHIINERY 8,833

C101351003 DEPRECIATION ON PLANT & MACHINERY 8,833
25 C101351001 DEPRECIATION ON FACTORY BUILDING 75,336

A102011001 ACCUM. DEP.FACTORY BUILDING 75,336
26 C101351003 DEPRECIATION ON PLANT & MACHINERY 231,687

A102041001 ACCUM.DEP.PLANT & MACHIINERY 231,687
27 C101221001 REPAIR& MAINTENANCE OF TOOLS & EQUIPMEN 22,500

A101061001 TOOLS & EQUIPMENTS 22,500
28 A102051001 ACCUM.DEP.TOOLS & EQUITPMENTS 1,875

C101351004 DEPRECIATION ON TOOLS & EQUIPMENTS 1,875
29 L202251005 FINAL SETTLEMENT PAYABLE 28,770
A207081001 SILK BANK LIMITED MAIN BRANCH LAHORE 28,770
30 O104011001 CURRENT INCOME TAX EXPENSES #REF!

L202221001 PROVISION FOR TAXATION #REF!
31 O104021001 DEFERRED INCOME TAX EXPENSES #REF!

L103011001 DEFERRED TAXATION #REF!
32 L103011001 DEFERRED TAXATION (1,699,647)

E204011005 PLANT & MACHINERY (865,529)
E204011002 BUILDING (834,118)
33 E204011002 BUILDING (1,585,057)

E203011001 UNAPPROPRIATED PROFIT 1,265,181
34 C101351003 DEPRECIATION ON PLANT & MACHINERY -

A102041001 ACCUM.DEP.PLANT & MACHIINERY -
35 L102011001 FIRST PUNJAB MODARABA 4,588,326

36 O101071006 ENTERTAINMENT OTHERS 113,353

O101191003 OFFICE CONTIGENCIES 113,353
37 O101111001 LEGAL & PROFESSIONAL CHARGES. 405,314

O101191013 TRAINING EXPENSES 405,314
38 O102011001 SALES SALARIES 787,069

O102231009 KARACHI OFFICE EXPENSE 787,069
39 O101211001 DEPRECIATION ON OFFICE EQUIPMENT 200,121

O101211002 DEPRECIATION ON FURNITURE & FIXTURE 24,050
O101211003 DEPRECIATION ON VEHICLE 39,195
C101351005 DEPRECIATION ON OFFICE EQUIPMENTS 200,121
C101351008 DEPRECIATION ON FURNITURE FIXTURE 24,050
C101351009 DEPRECIATION ON VEHICLES 39,195
40 L202331001 TRADE ACCOUNTS PAYABLE 168,470

O101141001 OFFICE RENT 160,047
O102141001 RENT HEAD OFFICE 8,423
41 Right of use assets 7,945,787

L102011001 FIRST PUNJAB MODARABA (Head office rent) 7,945,787
42 C101361001 DEP. ON PLANT & MACHINERY - lease 220,716

Right of use assets 220,716
43 O103071002 MARKUP ON LEASE MACHINREY 82,956

44 Provision for stock in trade 784,243
A202061001 FINISHED GOODS PROVISION OB.ST 784,243
45 Workers welfare fund 3,351,212

O157011002 Workers' (profit) participation fund 3,351,212
46 Workers welfare fund 804,201

PROVISION FOR WWF 804,201
47 O157011002 Workers' (profit) participation fund 6,236,588

L202081001 UNPAID WORKERS PROFIT PARTICIPATION FUND 6,236,588
48 A106031001 CYCLE LOAN 3,200

A106021001 MOTOR CYCLE LOAN 2,880
L202251005 FINAL SETTLEMENT PAYABLE 6,080
49 L202251005 FINAL SETTLEMENT PAYABLE 650,180

50 A108011001 SECURITY DEPOSIT 2,092,000

A205011001 SECURITY DEPOSITS OTHERS 2,092,000
51 C101131001 OTHER EXPENSES 719

R201031001 GAIN ON SALE OF FIXED ASSETS 719
52 A101051001 PLANT & MACHINERY 63,094,185

A101021001 FACTORY BUILDING (54,126,680)
A101011001 LAND 182,585,000
E204011002 BUILDING (38,736,029)
E204011001 LAND 182,585,000
L103011001 DEFERRED TAXATION (15,390,651)
53 O103011030 MARKUP ASKARI - FATR 4,545

L202191020 ACCRUED INTEREST ASKARI 4,545
54 O101181005 TRAVELLING - OTHERS -

A205031002 MARGIN - TARIQ REHMAN (MD)
A205031003 MARGIN - SUHAIL MANNAN (DP)
A205031004 MARGIN - IQBAL SHAFIQ (DM)
A205031005 MARGIN - CM
A205031006 MARGIN - OTHERS
A205031007 MARGIN - SALEM REHMAN (DO)
A205031008 MARGIN - AHSAN SUHAIL MANNAN (DA)
Posted By: Reason for
adjustmen
Auditors t
posted Gratuity expenses with actuarial report 11,094,009

posted 4,168,927
posted 790,741
posted
posted
Actuary gain
Difference of payments made with actuary report
10,565,998
3,562,949
47,373,272 129,453,468 101,225,313 28,228,155

Fib Claim (EFU)
Assets of value less than Rs. 20,000 are expensed out
Depreciation reversed on assets expensed out
Assets of value less than Rs. 20,000 are expensed out
Depreciation reversed on assets expensed out
Depreciation less recorded
Depreciation less recorded

actual #REF!

actual #REF!
Already booked 153,627 Already booked

actual (680,491) actual
(834,118)
Already booked 11,550,215 Already booked

actual 9,965,158 actual
(1,585,057)
Err:509
(33,182,923) (32,893,769) 60,868,925
11,516,926 15,673,987
12,301,169

actual 4,155,413 5,644,389
804,201

actual 15,055,567
6,236,588
negative balances in long term loans
employees who have resigned adjusted against final settlement payable
Reclassification of SNGPL and WAPDA from short to long
Revalued Book value Surplus
Land 568,360,000 385,775,000 182,585,000

buildinng 423,456,000 477,582,680 (54,126,680)
P&M 356,461,000 293,366,815 63,094,185
plant
building
778,139 confirmation
773,594
4,545
5,973
4,840
1,330
1,398,121
40,000
4,200
4,193
10,722,527 371,482
4,477,776 (308,849)
853,380 (62,639)
106,218
(759,311)
(865,529)
6,674,216
9,524,454
2,850,238
Long term financing
b/f 275,580,018
net 103,698,392
Grant portion 4,075,952

isa 39-p&l Dr 20,976,820
isa 39-p&l Cr 2,610,984 loan obtained 19,145,560
c/d 205,317,070 ###
315,702,398 315,702,398
-
Lease Liabilities
b/f 8,028,743
Repayment 3,570,941 Addition 316,940
Interest 870,256
c/d 5,644,998
9,215,939 9,215,939
-
WPPF Payable
b/f 8,805,292
paid 9,360,652 FTY 15,055,567

Interest in Wppf 580,942
c/d 15,081,149
24,441,801 24,441,801
-
Dividend Payable
b/f 243,677
paid -
c/d 243,677
243,677 243,677
-
Accrued finance cost
b/f 26,626,525
Transfer
iaS 39
paid 69,967,338 Finance cost 66,488,237
c/d 23,147,424
93,114,762 93,114,762
-
Property, plant and equipment
b/f 1,354,563,200
Depreciation 97,284,467
Transfer CWIP 140,462,783
additions 36,653,874 Disposal 499,772
Transfer from HFS Transfer to inv. Properties 43,030,862
Transfer from stores 32,417,932
Surplus 459,322,504 c/d 1,882,605,192
2,023,420,293 2,023,420,293
-
Capital work in progress

b/f 377,302
Addition 138,867,557 Transfer 140,462,783
transfer from stores 1,217,924

c/d -
140,462,783 140,462,783
-
Long term loans
b/f 894,340
net change 192,330
c/d 702,010
894,340 894,340
-
Stores, spares and loose tools
b/f 80,613,844
net change 37,483,772 Transfer to ppe 32,417,932

Transfer 1,217,924
c/d 84,461,760
118,097,616 118,097,616
-
Trade receivables
b/f 366,066,725
exch gain 426,172 Provision for the year 6,221,700

net change 232,812,213 net change
Bad debt written off
c/d 593,083,410
599,305,110 599,305,110
-
Income tax refundable from the Government
b/f 91,095,096
paid 41,174,159 FTY 48,312,077
Minimum tax credit 3

c/d 83,957,181
132,269,258 132,269,258
-
Deferred liabilities
b/f 64,057,327
Provision for gratuity 16,349,442

gratuity paid 2,273,782
Transfer to current 4,422,911 OCI charge 220,824
c/d 73,930,900
80,627,593 80,627,593
-
Trade and other payables
b/f 252,652,292
Liabilities written back 2,358,118
Exchange gain advance received shown separately
Transfer from discontinued 987,620 Transfer from gratuity payable
net change - Adjustment of sales tax -
reversal of AAE in 220 4,658,884 Benefits due but not paid 4,422,911
c/d 294,969,991 Net change 45,665,912
Exchange loss 233,498
302,974,613 302,974,613
-
WWF Payable
b/f 10,800,938
FTY 5,709,497
c/d 16,510,435
16,510,435 16,510,435
-
Proceeds from Disposal of PPE
Sale proceeds WDV Gain /Loss
PPE 750,000 499,772 250,228
Held for sale #NAME? 76,180,763 -
#NAME? #NAME?
-
Advance against held for sale
b/d #NAME?
adjustment against sale 31,047,156

spare parts 9,202,219 Proceeds for sale 23,419,000
c/d #NAME?
#NAME? #NAME?
#NAME?
Investment properties
b/f -
transfer from ppe 43,030,862 - -
Transfer CWIP -
additions 16,760,683 Disposal -
FV gain 16,389,218 Transfer to inv. Properties -
Transfer from stores -
Surplus - c/d 76,180,763
76,180,763 76,180,763
-
b/d
net
c/d
- -
-
Long term deposits
b/f 3,751,900
deposits paid -
c/d 3,751,900
3,751,900 3,751,900
-
Stock in trade
b/f 610,421,620
Provision 2,874,523
net change 13,395,359
c/d 594,151,738
610,421,620 610,421,620
-
Advances, deposits, prepayments and other receivables
b/f 66,408,730
Provision -
net change (16,294,461) Transfer of security deposit to long ter -
c/d 50,114,269
50,114,269 50,114,269
-
Payable to employees against discontinued provident fund
b/f 4,632,632
Interest 56,852
net change 4,961,553
Transfer to accrued 987,620
715,551
5,677,104 5,677,104
-
SCB NBP P. Fund
Closing 41,526,113 24,280,812 100,529,818
Non-current portion 18,931,350 - 100,529,818
Current portion 21,600,000 22,440,000 -
Overdue portion 994,763 1,840,812 -
Current and overdue 22,594,763 24,280,812 -
- 18,732,812
Compunding - 20,137,773
Total Cash Flows - 1 year markup - 1,404,961
Total Cash Flows - P + M Year 1 22,594,763 25,685,773
Total Cash Flows - P Year 2 18,931,350 - 4,000,000
Total Cash Flows - M Year 2 - -
Total Cash Flows - P + M Year 2 18,931,350 - 4,000,000
Total Cash Flows - P + M Year 2-5 Years 96,529,818

HBL Total
40,722,030 207,058,773
13,574,010 133,035,178
27,148,020 71,188,020
- 2,835,575
27,148,020 74,023,595
814,441
1,221,661
28,369,681 76,650,217
13,574,010 29,951,139
407,220 -
13,981,230 29,951,139 66,863,719
96,529,818
ECMO Industried Limited
Year Ended: June 30, 2021
Working of WPPF and WWF
2021
Amount
Rupees
Calculation of WPPF:
Accounting profit before taxation and provision of WPP 311,691,059

Less:
Auditor's remuneration: 1,250,000
Impairment loss on disposal group -
Exchange loss 233,498
Workers' (profit) participation fund -
Workers' welfare fund -
Bad debts written off -
Provision for expected credit loss allowance 6,221,700
Loss on disposal of property, plant and equipment -
Provision for obsolescence of stock in trade 2,874,523
Provision for doubtful advances -
10,579,721
Profit after adjustments before charging WPPF 301,111,338
WPPF for the current period @ 5% 15,055,567
Interest on opening WPPF -
WACC 9.55% -
Calculation of WWF: Amount

Rupees
Taxable income 282,219,439
Calculation of WWF: 2% of taxable income 5,644,389

Higher of
2% of APBT 5,709,497
5,709,497
IEC rent from march to june 673,880 admin 160,047 95.00%
Payments made 484,291 selling 8,423 5.00%
189,589 168,470
21,119
IEC
Comprehensive Template - Initial Measurement
Fixed Payments /
Period (if
Month Period Date In-substance Fixed Discount Factor Present Value
Annual)
Payments
0 1 Jun-20 264,713 1.00000000000 264,713
1 2 Jul-20 264,713 0.98931539375 261,885
2 3 Aug-20 264,713 0.97874494831 259,087
3 4 Sep-20 264,713 0.96828744391 256,318
4 5 Oct-20 264,713 0.95794167383 253,580
5 6 Nov-20 264,713 0.94770644424 250,870
6 7 Dec-20 264,713 0.93758057404 248,190
7 8 Jan-21 264,713 0.92756289477 245,538
8 9 Feb-21 264,713 0.91765225047 242,914
9 10 Mar-21 264,713 0.90784749750 240,319
10 11 Apr-21 264,713 0.89814750445 237,751
11 12 May-21 264,713 0.88855115201 235,211
12 13 Jun-21 264,713 0.87905733281 232,698
13 14 Jul-21 264,713 0.86966495134 230,212
14 15 Aug-21 264,713 0.86037292376 227,752
15 16 Sep-21 264,713 0.85118017784 225,318
16 17 Oct-21 264,713 0.84208565279 222,911
17 18 Nov-21 264,713 0.83308829916 220,529
18 19 Dec-21 264,713 0.82418707871 218,173
19 20 Jan-22 264,713 0.81538096429 215,842
20 21 Feb-22 264,713 0.80666893974 213,536
21 22 Mar-22 264,713 0.79804999975 211,254
22 23 Apr-22 264,713 0.78952314973 208,997
23 24 May-22 264,713 0.78108740575 206,764
24 25 Jun-22 264,713 0.77274179437 204,555
25 26 Jul-22 264,713 0.76448535256 202,369
26 27 Aug-22 264,713 0.75631712758 200,207
27 28 Sep-22 264,713 0.74823617687 198,068
28 29 Oct-22 264,713 0.74024156794 195,952
29 30 Nov-22 264,713 0.73233237825 193,858
30 31 Dec-22 264,713 0.72450769515 191,787
31 32 Jan-23 264,713 0.71676661570 189,737
32 33 Feb-23 264,713 0.70910824663 187,710
33 34 Mar-23 264,713 0.70153170423 185,705
34 35 Apr-23 264,713 0.69403611419 183,720
35 36 May-23 264,713 0.68662061159 181,757
9,529,668 7,945,787
1235044.9728
3,176,556
2,911,843
Advance Payment Type
12.96% Annual Rate
1.08% Monthly Rate
Payment Type
Annual Rate
Monthly Rate
Comprehensive Template - Amortization Schedule
Lease Liability
Adjusted Opening
Period Cumulative Date Beginning Lease Payments at Balance for
Period Balance Start of Period Interest
Calculation
0 1 Jun-20 7,945,787 (264,713) 7,681,074

1 2 Jul-20 7,764,030 (264,713) 7,499,317
2 3 Aug-20 7,580,310 (264,713) 7,315,597
3 4 Sep-20 7,394,605 (264,713) 7,129,892
4 5 Oct-20 7,206,895 (264,713) 6,942,182
5 6 Nov-20 7,017,158 (264,713) 6,752,445
6 7 Dec-20 6,825,371 (264,713) 6,560,658
7 8 Jan-21 6,631,513 (264,713) 6,366,800
8 9 Feb-21 6,435,561 (264,713) 6,170,848
9 10 Mar-21 6,237,493 (264,713) 5,972,780
10 11 Apr-21 6,037,286 (264,713) 5,772,573
11 12 May-21 5,834,917 (264,713) 5,570,204
12 13 Jun-21 5,630,362 (264,713) 5,365,649
13 14 Jul-21 5,423,598 (264,713) 5,158,885
14 15 Aug-21 5,214,601 (264,713) 4,949,888
15 16 Sep-21 5,003,347 (264,713) 4,738,634
16 17 Oct-21 4,789,811 (264,713) 4,525,098
17 18 Nov-21 4,573,969 (264,713) 4,309,256
18 19 Dec-21 4,355,796 (264,713) 4,091,083
19 20 Jan-22 4,135,267 (264,713) 3,870,554
20 21 Feb-22 3,912,356 (264,713) 3,647,643
21 22 Mar-22 3,687,038 (264,713) 3,422,325
22 23 Apr-22 3,459,286 (264,713) 3,194,573
23 24 May-22 3,229,074 (264,713) 2,964,361
24 25 Jun-22 2,996,376 (264,713) 2,731,663
25 26 Jul-22 2,761,165 (264,713) 2,496,452
26 27 Aug-22 2,523,414 (264,713) 2,258,701
27 28 Sep-22 2,283,095 (264,713) 2,018,382
28 29 Oct-22 2,040,181 (264,713) 1,775,468
29 30 Nov-22 1,794,643 (264,713) 1,529,930
30 31 Dec-22 1,546,453 (264,713) 1,281,740
31 32 Jan-23 1,295,583 (264,713) 1,030,870
32 33 Feb-23 1,042,003 (264,713) 777,290
33 34 Mar-23 785,685 (264,713) 520,972
34 35 Apr-23 526,598 (264,713) 261,885
35 36 May-23 264,713 (264,713) -
Total (9,529,668)
plate - Amortization Schedules at Commencement Date
e Liability Right-of-use Asset
Interest Closing Balance Beginning Balance Depreciation Closing Balance

Charge
82,956 7,764,030 7,945,787 (220,716) 7,725,071

80,993 7,580,310 7,725,071 (220,716) 7,504,355
79,008 7,394,605 7,504,355 (220,716) 7,283,639
77,003 7,206,895 7,283,639 (220,716) 7,062,923
74,976 7,017,158 7,062,923 (220,716) 6,842,207
72,926 6,825,371 6,842,207 (220,716) 6,621,491
70,855 6,631,513 6,621,491 (220,716) 6,400,775
68,761 6,435,561 6,400,775 (220,716) 6,180,059
66,645 6,237,493 6,180,059 (220,716) 5,959,343
64,506 6,037,286 5,959,343 (220,716) 5,738,627
62,344 5,834,917 5,738,627 (220,716) 5,517,911
60,158 5,630,362 5,517,911 (220,716) 5,297,195
57,949 5,423,598 5,297,195 (220,716) 5,076,479
55,716 5,214,601 5,076,479 (220,716) 4,855,763
53,459 5,003,347 4,855,763 (220,716) 4,635,047
51,177 4,789,811 4,635,047 (220,716) 4,414,331
48,871 4,573,969 4,414,331 (220,716) 4,193,615
46,540 4,355,796 4,193,615 (220,716) 3,972,899
44,184 4,135,267 3,972,899 (220,716) 3,752,183
41,802 3,912,356 3,752,183 (220,716) 3,531,467
39,395 3,687,038 3,531,467 (220,716) 3,310,751
36,961 3,459,286 3,310,751 (220,716) 3,090,035
34,501 3,229,074 3,090,035 (220,716) 2,869,319
32,015 2,996,376 2,869,319 (220,716) 2,648,603
29,502 2,761,165 2,648,603 (220,716) 2,427,887
26,962 2,523,414 2,427,887 (220,716) 2,207,171
24,394 2,283,095 2,207,171 (220,716) 1,986,455
21,799 2,040,181 1,986,455 (220,716) 1,765,739
19,175 1,794,643 1,765,739 (220,716) 1,545,023
16,523 1,546,453 1,545,023 (220,716) 1,324,307
13,843 1,295,583 1,324,307 (220,716) 1,103,591
11,133 1,042,003 1,103,591 (220,716) 882,875
8,395 785,685 882,875 (220,716) 662,159
5,626 526,598 662,159 (220,716) 441,443
2,828 264,713 441,443 (220,716) 220,727
- - 220,727 (220,716) 11
1,583,881 (7,945,776)
895,388 12.96%
(3,570,941) 1.08%
836,124 (59,264)
(3,176,556) 394,385
Page 6 of 12
NOTES TO AND THE FORMING PART OF

CONDENSED INTERIM FINANCIAL STATEMENTS (UN-AUDITED)
FOR THE HALF YEAR ENDED DECEMBER 31, 2018
Note 1
The Company and its Operations
1.1 EMCO Industries Limited ("the Company") was incorporated as a Joint Stock Company in Pakistan under the Companies
Act, 1913, (now the Companies Act, 2017) on August 17, 1954 by the name of Electric Equipment Manufacturing
Company (Private) Limited. Later, it was converted into a public company on August 20, 1983 and its name was
changed to EMCO Industries Limited on September 12, 1983. The Company was listed on the stock exchange on
December 29, 1983. Corporate office of the Company is located at 4th Floor, National Tower, 28 Egerton Road, Lahore,
while its factory is located at 19-Km, Lahore Sheikhupura Road, Lahore.
1.2 The Company is principally engaged in the manufacture and sale of high / low tension electrical porcelain insulators
and switchgears.
1.3 The manufacturing unit of the Company is located at 19-Km, Lahore Sheikhupura Road, Lahore.
Note 2
Basis of Preparation
2.1 These condensed interim financial statements have been prepared in accordance with the directives issued by the
Securities and Exchange Commission of Pakistan (SECP) and are in compliance with the International Accounting
Standard - 34 (Interim Financial Reporting).
2.2 These condensed interim financial statements should be read in conjunction with annual audited financial statements
for the year ended June 30, 2018. Comparative statement of financial position is extracted from annual audited
financial statements for the year ended June 30, 2018 whereas comparative statement of profit or loss, comparative
statement of comprehensive income, comparative statement of cash flows and comparative statement of changes in
equity are extracted from unaudited condensed interim financial statements for the half year ended December 31,
2017.
2.3 These condensed interim financial statements are unaudited. However, a limited scope review has been performed by
the external auditors as required by the Code of Corporate Governance.
2.4 The preparation of these condensed interim financial statements requires management to make judgments, estimates
and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities,
income and expense. Actual results may differ from these estimates. In preparing these condensed interim financial
statements, the significant judgments made by the management in applying accounting policies and key sources of
estimation were the same as those that were applied to the financial statements for the year ended June 30, 2018.
2.5 These condensed interim financial statements are presented in Pak Rupees, which is the Company's functional and
presentational currency. All the figures have been rounded off to the nearest rupees, unless otherwise stated.
Note 3
Significant Accounting Policies
The Company's accounting and financial risk management policies and the methods of preparation of these condensed interim
financial statements are the same as those followed in the preparation of annual financial statements for the preceding financial
year ended June 30, 2018.
Notes to and forming part of these condensed interim financial statements (Un-audited)
Note 4
Surplus on Revaluation of Property, Plant and Equipment
December 31, June 30,
2018 2018
(Un-audited) (Audited)June 09
Rupees Rupees NRL
Land - Freehold 360,253,745 479,521,964

Buildings on freehold land 230,850,681 252,550,999
Plant and machinery 166,749,185 188,460,297
757,853,611 920,533,260
Less: Reversal of revaluation surplus due to impairment of plant and equipment - (13,379,246)
Add: Related deferred taxation - 3,904,064
- (9,475,182)
Effect of change in effective tax rates #REF! (533,746)
Incremental depreciation charged on revalued property, plant and equipment

in current period-net of deferred tax (transferred to retained earnings) #REF! (19,719,055)
#REF! 890,805,277
Note 5
Long Term Financing
2018 2018
(Un-audited) (Audited)
Rupees Rupees
Banking companies - secured
National Bank of Pakistan - 114,102,368

Adjustment due to impact of IAS 39 - (2,838,939)
- 111,263,429
Standard Chartered Bank (Pakistan) Limited - 87,293,274

Adjustment due to impact of IAS 39 - (13,199,291)
- 74,093,983
- 185,357,412
Associated companies / related parties - unsecured
Associated Engineers (Private) Limited - 22,185,447

Adjustment due to impact of IAS-39 - (983,011)
- 21,202,436
EMCO Industries Limited Provident Fund - 221,435,040

Adjustment due to impact of IAS-39 - (57,240,370)
- 164,194,670
ICC (Private) Limited - 13,125,005
Imperial Electric Company (Private) Limited - 2,615,692

Adjustment due to impact of IAS-39 - (41,878)
- 2,573,814
- 386,453,337
Less: current portion: ###
- Banking companies (34,301,682) ###
(28,772,531)
- Associated companies / related parties (26,916,674) (41,870,780)
(61,218,356) (70,643,311)
(61,218,356) 315,810,026
Note 6
Short Term Borrowings
2018 2018
Rupees Rupees
Interest bearing
Banking companies - secured:

- Running finances - 161,996,165
- Export and import finances - 63,190,440
- 225,186,605
- Associated company - ICC (Private) Limited (80,750,000) 75,000,000
- Director - 32,648,590
(80,750,000) 107,648,590
(80,750,000) 332,835,195
Interest free

- Associated company - ICC (Private) Limited 80,750,000 80,750,000
- Directors and close relatives thereof - 123,827,821
80,750,000 204,577,821
- 537,413,016
Note 7
Contingencies and Commitments
Contingencies
7.1 There is no material change in the status of contingencies as reported in financial statements of the Company for the
year ended June 30, 2018.
Commitments
7.2 Commitment for Letters of credit other than for capital expenditure amount to Rs. 27.43 million (June 30, 2018 : Rs.
32.25 million).
7.3 Bank guarantees amounting to Rs. 188.492 million (June 30, 2018: Rs. 147.519 million) have been issued in favour of
the following:

2018 2018
Rupees Rupees
Guarantees
Sui Northern Gas Pipeline Limited 22,406,000 22,406,000

NTDC and electric distribution companies 157,108,190 116,134,993
Collector of Customs 8,978,358 8,978,358
188,492,548 147,519,351
7.4 Commitments for future minimum lease payments in respect of Ijarah arrangements are as follows:
Later than one

Not later than Later than five
year and later
one year years
than five years
--------------- Rupees ---------------
1,342,272 2,460,832
-
Note 8
Property, Plant and Equipment
2018 2018
Note (Un-audited) (Audited)June 09
Rupees Rupees NRL
Operating fixed assets 8.1 Err:508 1,131,168,371

Capital work in progress - civil works - 11,673,192
Err:508 1,142,841,563
8.1 Operating fixed assets

Opening written down value 1,131,168,371 1,437,943,775
###
Additions during the period / year 209,534,589 78,398,757
###
Disposals during the period / year Err:508 (37,252,618)
Impairment loss - (37,555,665)
###
Transferred in from assets classified as held for sale to non current assets -
Transferred out to non current assets classified as held for sale - (228,201,662)
Err:508 1,213,332,587
###
Depreciation charge for the period / year 97,284,463 (82,164,216)
###
Err:508 1,131,168,371
Note 9
Non Current Assets Classified As Held For Sale
2018 2018
Rupees Rupees
Land - 125,337,500
Plant and machinery - 102,864,162
Spare parts - 18,270,282
- 246,471,944
9.1 The Company has classified a piece of land measuring 61 kanals and 01 Marla (June 30 2018 : 81 kanals and 01
Marla), situated at 19 KM Sheikhupura Road, Lahore and plant & machinery of Tile Division alongwith related spare
parts as "Held for Sale" in accordance with IFRS-5, "Non-current Assets Held for Sale and Discontinued Operations".
During the half year ended December 31, 2018, the Company has successfully concluded the sale of a piece of land
measuring 20 kanals, as well as of a part of plant and machinery.
Note 10
Cost of Sales
Half Year Ended December 31, Quarter Ended December

Half Year Ended
31, Dec
2018 2017 2018 2017 ###
---------------(Un-audited)--------------- (Un-audite
Rupees Rupees Rupees Rupees Rs. '000'
Raw and packing material consumed 60,711,427 171,359,817 (50,586,787) 79,103,142

###
Salaries, wages and benefits - 118,689,388 (61,524,492) 59,123,597
###
Stores and spares consumed - 19,694,796 (9,131,373) 9,693,999
###
Power and gas - 58,883,780 (30,662,771) 30,372,564
###
Testing and inspection - 9,066,416 (5,842,127) 2,578,150
Travelling and conveyance - 10,024,648 (3,513,301) 3,579,664
Rent, rates and taxes - 543,833 (773,184) 304,282
###
Repairs and maintenance - 1,261,555 (620,158) 737,570
###
Entertainment - - (488,792) ###
-
Insurance - 2,068,672 (859,353) 1,169,120
###
Ijarah rentals - - (335,568) ###
-
Vehicle maintenance - 312,940 (106,345) 184,813
###
Communication and stationery - 461,115 (245,331) 233,354
Miscellaneous - 1,170,719 (74,306) 1,170,719
###
Depreciation - 39,256,075 (16,535,568) 19,838,744
60,711,427 432,793,754 (181,299,456) 208,089,718
###
Work in process:
- Opening work in process 49,737,606 29,735,130 44,220,934 35,077,870
###
- Closing work in process (85,445,820) (36,708,846) (85,445,820) (36,708,846)
###
(35,708,214) (6,973,716)
### (41,224,886)
### (1,630,976)
###
Cost of goods manufactured 25,003,213 425,820,038
### (222,524,342)
### 206,458,742
Finished goods:
- Opening finished goods 180,728,650 258,274,157 188,632,795 225,627,190
###
- Closing finished goods (205,731,863) (255,603,360) (205,731,863) (255,603,360)
###
(25,003,213) 2,670,797### (17,099,068)
### (29,976,170)
###
- 428,490,835### (239,623,410)
### 176,482,572
###
Note 11
Other operating expenses include Rs. 16.00 million on account of impairment loss on assets classified as held for sale.
Note 12
Taxation
Half Year Ended December 31,

2018 2017
Rupees Rupees
Current - 6,191,111
Prior year adjustment:
- Current tax - 13,587,331
- Tax credits - (26,971,759)
- (7,193,317)
Deferred - (35,091,595)
- (42,284,912)
Note 13
Transactions with Related Parties
Related parties comprise associated companies, related group companies, directors of the Company and their close relatives, key management
personnel and post employment benefit plans. The Company in the normal course of business carries out transactions with various related
parties. Amounts due from and due to related parties are shown under respective notes to these financial statements. Significant transactions
with related parties are given below:
December 31, December 31,

2018 2017
(Un-audited) (Un-audited)
Rupees Rupees
Transactions during the period
Related party Relationship Nature of transaction
Associated Engineers Associated company Short term borrowing obtained - 300,000

(Private) Limited Loan term financing obtained 250,000 -
Markup on long term financing 281,496 281,496
EMCO Industries Limited Associated undertaking Markup on long term financing - 5,431,389
Provident Fund Markup paid - 250,000
Principal repaid 13,771,152 475,763
Imperial Electric Company Associated company Markup on long term financing 75,576 75,576
(Private) Limited Rent expense 1,075,158 1,351,930
Short term borrowing received 106,500,000 59,000,000
Short term borrowing repaid 106,500,000 59,000,000
ICC (Private) Limited Associated company Short term borrowing obtained 79,000,000 83,000,000
Short term borrowing repaid 79,000,000 8,000,000
Markup on short term borrowing 4,104,154 3,288,349
Markup paid 3,816,328 3,446,218
Long term financing obtained - -
Long term financing repaid 10,208,331 7,291,665
Markup on long term financing 467,306 1,192,998
Markup paid on long term financing 462,552 -
Directors and close Associated persons Short term borrowing obtained 133,909,757 70,849,895
relatives thereof Short term borrowing repaid 116,859,081 75,467,322
Markup on short term borrowing paid 3,887,593 3,380,361
Associated undertakings Related party Managerial services and expenses charged-net 10,632,608 11,968,380
Associated undertakings Related party Expenses charged to Gratuity Fund 5,978,172 2,126,398
Outstanding Balance as at the period end December 31, June 30,

2018 2018
Rupees Rupees
Associated Engineers Long term financing - interest bearing 7,396,095 7,396,095

Long term financing - interest free 13,983,591 13,806,341
EMCO Industries Limited Provident Fund Long term financing 155,970,121 164,194,671
Markup on long term financing - -
Imperial Electric Company (Private) Limited Long term financing - interest bearing 1,985,640 1,985,640
Long term financing - interest free 585,822 588,174
ICC (Private) Limited Short term borrowing - interest free 80,750,000 80,750,000
Short term borrowing - interest bearing 75,000,000 75,000,000
Markup on borrowing 7,386,389 7,054,390
Long term financing 2,916,674 13,125,005
ICC (Private) Limited Receivable against sales 63,059 63,059
Nur Enterprises Receivable against sales 305,866 305,866

Directors, executives and close relatives thereof Sponsors' loans 115,708,828 115,708,828
Short term borrowing - interest bearing 173,486,688 123,827,821
and interest free
Notes to and forming part of the these condensed interim financial statements (Un-audited)
Note 14
Segment Reporting
With the closure of Tile Division and the reclassification of related assets as Held for Sale, the Tile Division is now no more a reportable segment
for Chief Executive Officer.
Note 15
Date of Authorization for Issue
These condensed interim financial statements (un-audited) is authorized for issuance on _____________________ by the Board of Directors of
the Company.
Note 16
General
Corresponding figures are re-arranged / reclassified, wherever necessary, to facilitate comparison. No material reclassifications have been made
in these condensed interim financial statements (un-audited), except that the surplus on Revaluation of property plant and equipment has been
included in the equity and comparative information for the six month period ended December 31, 2017 has been restated in statement of
changes in equity. The basis of such restatement has been explained in note 5 of annual financial statements for the year ended June 30, 2018.

LIQUIDITY RATIO ANALYSIS
PARTICULARS FORMULA RATIO REMARKS
Favorable for the company to pay its

CURRRENT RATIO CURRENT ASSET/CURRENT LIABILTY 1.35819593 without considering about any loan fr
external source for paying debts.
Moderately favorable for the compa

and its means that the company can
(current assets-inventory)/ cover 61%debts from the current ass
Quick Ratio current liability
0.80809893
less inventory so its means that
company debts 40% depends on the
inventory.
Less favorable in relation with cash
current liability because comapany h
(Cash+short term security invistments)/ less cash to pay debt in case of
CASH RATIO 0.03761356
current liability emergency or risk of any contigenc
happening
ACTIVITY RATIO ANALYSIS
INVENTORY TURN OVER Satisfactory result and it shows that

RATIO COST OF SALE/AVERAGE INVENTORY 0.57
company inventory turned over on
average 81 days.(365/4.51)
RECEIVABLE TURNOVER Favorable result that the compan

NET REVENUE/AVERAGE RECEIVABLE 4.24 received its debts in average 16 day
RATIO
(365/22.45)
PAYABLE TURNOVER RATIO PURCHASE/AVERAGE PAYABLE
This result shows that the compan

ASSET TURNOVER RATIO NET REVENUE/AVERAGE ASSETS 0.66 efficiency of utilising the asset is less
50% so that’s a moderate efficienc
PROFITIBILITY RATIO ANALYSIS
This show that the company earn gro

GROSS PROFIT MARGIN GROSS PROFIT/NET REVENUE 24% 15% on sale of One rupees.So the re
is satisfactory.
This result shows that the company

NET PROFIT MARGIN NET PROFIT/NET SALE 10% profit on sale of one rupees is 7% an
shows good growth as compare to
previous year.
This result is satisfactory when we
compare it with previouse year.Previ
RETURN ON ASSETS NET PROFIT/TOTAL ASSETS 6% year it was about 1% and now it is 3
that shows good growth even growth
ROS is greater than increase in asset
during the year.
The result shows that there is increas
RETURN ON EQUITY NET PROFIT/SHAREHOLDER EQUITY 10% return on invistment made by the
shareholders and showed satisfacto
growth as compare to previous yea
SOLVENCY RATIO ANALYSIS
The result shows that the company

DEBT TO ASSET RATIO more than 50% assets are financed
TOTAT DEBT/TOTAL ASSETS 25%
(FINANCIAL LEAVRAGE) creditor and there is little bit improvem
as compare to previous year.
The result shows that the company u

TOTAL DEBT/DEBTS+SHAREHOLDERS about 56% debts for operational activ
DEBT TO CAPITAL RATIO 29%
EQUITY of company but it is little bit improved
compare to previous year.
The result are less favorable becaus

high ratio and shows that the debts a
DEBT TO EQUITY RATIO TOTAL DEBT/SHAREHOLDERS EQUITY 0.42 times greater then the equity invisted
the shareholders and for favorable
should be below 2.
PROFIT BEFORE TAX AND
INTEREST COVERAGE RATIO INTEREST/INTEREST PAID DURING 4.20
THE YEAR
REMARKS
e for the company to pay its debt

considering about any loan from
nal source for paying debts.
tely favorable for the company

means that the company can
1%debts from the current assets
entory so its means that
y debts 40% depends on the
y.
vorable in relation with cash to
liability because comapany has
cash to pay debt in case of
ency or risk of any contigency
happening
640.35
tory result and it shows that the

any inventory turned over on
erage 81 days.(365/4.51)
able result that the company

d its debts in average 16 days.
(365/22.45) 86.08491
#DIV/0!
esult shows that the company
of utilising the asset is less than
o that’s a moderate efficiency.
ow that the company earn gross

sale of One rupees.So the result
is satisfactory.
ult shows that the company net

sale of one rupees is 7% and it
s good growth as compare to
previous year.
esult is satisfactory when we
e it with previouse year.Previous
was about 1% and now it is 3%
ws good growth even growth in
eater than increase in asset ratio
during the year.
lt shows that there is increase in
n on invistment made by the
olders and showed satisfactory
as compare to previous year.
sult shows that the company is

an 50% assets are financed by
and there is little bit improvement
compare to previous year.
ult shows that the company uses

% debts for operational activities
any but it is little bit improved as
ompare to previous year.
ult are less favorable because it

o and shows that the debts are 4
eater then the equity invisted by
areholders and for favorable it
should be below 2.
Book value of stores capitalized upto June 30, 2019 pertaining to stores capitalized till 2019
Amount capitalized in June 30, 2020
Depreciation charged in 2020 on B
Depreciation charged in 2020 on A
Amount capitalized in June 30, 2021
Depreciation charged in 2021 on B
Depreciation charged in 2021 on A
Depreciation charged in 2021 on E
Remaining book value of A

Remaining book value of B
Remaining book value of E
Remaining book value of A on straight line basis

Remaining book value of B on straight line basis
Remaining book value of E on straight line basis
Entry for differential amount

Rupees
A 36,129,989
B 11,488,914
C 1,092,905 3,829,638
D 12,917,807
E 33,635,856
F 3,638,603 17,936,994
G 8,124,264 15,240,657
H 6,174,127
33,177,651
A-D-G 15,087,918
B-C-F 6,757,406
E-F 27,461,729
49,307,053 as per FAR 49,307,053 -
-
6,604,667 3,791,342 4,884,247
27,461,729 11,099,832
34,066,396
15,240,657
Comprehensive Template - Amortization Schedule
Lease Liability
Adjusted Opening
Period Cumulative Date Beginning Lease Payments at Balance for
Period Balance Start of Period Interest
Calculation
0 1 Jul-20 316,940 (10,806) 306,134

1 2 Aug-20 309,440 (10,806) 298,634
2 3 Sep-20 301,859 (10,806) 291,053
3 4 Oct-20 294,196 (10,806) 283,390
4 5 Nov-20 286,451 (10,806) 275,645
5 6 Dec-20 278,622 (10,806) 267,816
6 7 Jan-21 270,708 (10,806) 259,902
7 8 Feb-21 262,709 (10,806) 251,903
8 9 Mar-21 254,624 (10,806) 243,818
9 10 Apr-21 246,451 (10,806) 235,645
10 11 May-21 238,190 (10,806) 227,384
11 12 Jun-21 229,840 (10,806) 219,034
12 13 Jul-21 221,400 (10,806) 210,594
13 14 Aug-21 212,868 (10,806) 202,062
14 15 Sep-21 204,244 (10,806) 193,438
15 16 Oct-21 195,527 (10,806) 184,721
16 17 Nov-21 186,716 (10,806) 175,910
17 18 Dec-21 177,810 (10,806) 167,004
18 19 Jan-22 168,808 (10,806) 158,002
19 20 Feb-22 159,708 (10,806) 148,902
20 21 Mar-22 150,510 (10,806) 139,704
21 22 Apr-22 141,213 (10,806) 130,407
22 23 May-22 131,815 (10,806) 121,009
23 24 Jun-22 122,316 (10,806) 111,510
24 25 Jul-22 112,714 (10,806) 101,908
25 26 Aug-22 103,009 (10,806) 92,203
26 27 Sep-22 93,199 (10,806) 82,393
27 28 Oct-22 83,283 (10,806) 72,477
28 29 Nov-22 73,260 (10,806) 62,454
29 30 Dec-22 63,129 (10,806) 52,323
30 31 Jan-23 52,888 (10,806) 42,082
31 32 Feb-23 42,536 (10,806) 31,730
32 33 Mar-23 32,073 (10,806) 21,267
33 34 Apr-23 21,497 (10,806) 10,691
34 35 May-23 10,806 (10,806) -
Total (378,210)
plate - Amortization Schedules at Commencement Date
e Liability Right-of-use Asset
Interest Closing Balance Beginning Balance Depreciation Closing Balance

Charge
3,306 309,440 316,940 (9,055) 307,885

3,225 301,859 307,885 (9,055) 298,830
3,143 294,196 298,830 (9,055) 289,775
3,061 286,451 289,775 (9,055) 280,720
2,977 278,622 280,720 (9,055) 271,665
2,892 270,708 271,665 (9,055) 262,610
2,807 262,709 262,610 (9,055) 253,555
2,721 254,624 253,555 (9,055) 244,500
2,633 246,451 244,500 (9,055) 235,445
2,545 238,190 235,445 (9,055) 226,390
2,456 229,840 226,390 (9,055) 217,335
2,366 221,400 217,335 (9,055) 208,280
2,274 212,868 208,280 (9,055) 199,225
2,182 204,244 199,225 (9,055) 190,170
2,089 195,527 190,170 (9,055) 181,115
1,995 186,716 181,115 (9,055) 172,060
1,900 177,810 172,060 (9,055) 163,005
1,804 168,808 163,005 (9,055) 153,950
1,706 159,708 153,950 (9,055) 144,895
1,608 150,510 144,895 (9,055) 135,840
1,509 141,213 135,840 (9,055) 126,785
1,408 131,815 126,785 (9,055) 117,730
1,307 122,316 117,730 (9,055) 108,675
1,204 112,714 108,675 (9,055) 99,620
1,101 103,009 99,620 (9,055) 90,565
996 93,199 90,565 (9,055) 81,510
890 83,283 81,510 (9,055) 72,455
783 73,260 72,455 (9,055) 63,400
675 63,129 63,400 (9,055) 54,345
565 52,888 54,345 (9,055) 45,290
454 42,536 45,290 (9,055) 36,235
343 32,073 36,235 (9,055) 27,180
230 21,497 27,180 (9,055) 18,125
115 10,806 18,125 (9,055) 9,070
- - 9,070 (9,070) -
61,270 (316,940)
895,388 12.96%
(3,570,941) 1.08%
33,100 (862,288)
(129,672) 3,441,269
IEC
Comprehensive Template - Initial Measurement
Fixed Payments /
Period (if
Month Period Date In-substance Fixed Discount Factor Present Value
Annual)
Payments
0 1 Jul-20 10,806 1.00000000000 10,806
1 2 Aug-20 10,806 0.98931539375 10,691
2 3 Sep-20 10,806 0.97874494831 10,576
3 4 Oct-20 10,806 0.96828744391 10,463
4 5 Nov-20 10,806 0.95794167383 10,352
5 6 Dec-20 10,806 0.94770644424 10,241
6 7 Jan-21 10,806 0.93758057404 10,131
7 8 Feb-21 10,806 0.92756289477 10,023
8 9 Mar-21 10,806 0.91765225047 9,916
9 10 Apr-21 10,806 0.90784749750 9,810
10 11 May-21 10,806 0.89814750445 9,705
11 12 Jun-21 10,806 0.88855115201 9,602
12 13 Jul-21 10,806 0.87905733281 9,499
13 14 Aug-21 10,806 0.86966495134 9,398
14 15 Sep-21 10,806 0.86037292376 9,297
15 16 Oct-21 10,806 0.85118017784 9,198
16 17 Nov-21 10,806 0.84208565279 9,100
17 18 Dec-21 10,806 0.83308829916 9,002
18 19 Jan-22 10,806 0.82418707871 8,906
19 20 Feb-22 10,806 0.81538096429 8,811
20 21 Mar-22 10,806 0.80666893974 8,717
21 22 Apr-22 10,806 0.79804999975 8,624
22 23 May-22 10,806 0.78952314973 8,532
23 24 Jun-22 10,806 0.78108740575 8,440
24 25 Jul-22 10,806 0.77274179437 8,350
25 26 Aug-22 10,806 0.76448535256 8,261
26 27 Sep-22 10,806 0.75631712758 8,173
27 28 Oct-22 10,806 0.74823617687 8,085
28 29 Nov-22 10,806 0.74024156794 7,999
29 30 Dec-22 10,806 0.73233237825 7,914
30 31 Jan-23 10,806 0.72450769515 7,829
31 32 Feb-23 10,806 0.71676661570 7,745
32 33 Mar-23 10,806 0.70910824663 7,663
33 34 Apr-23 10,806 0.70153170423 7,581
34 35 May-23 10,806 0.69403611419 7,500
378,210 316,940
49016.016
129,672
118,866
Advance Payment Type
12.96% Annual Rate
1.08% Monthly Rate
Payment Type
Annual Rate
Monthly Rate
Incremental
Revaluation
Class Date of Revaluation depreciation FTY
Surplus
2020
Building 30-Jun-20 199,303,169 9,965,158
Plant and machinery 30-Jun-20 238,111,356 9,524,454
437,414,525 19,489,612
Proposed Entry: 76,723,151 86,246,576
Current tax entry
1) Dr. Current tax expense 47,197,993
Cr. Provision for taxation 47,197,993
Prior year adjustment
2) Dr. Current tax expense 1,114,084
Cr. Provision for taxation 1,114,084
Deferred tax entry

3) Dr. Revaluation surplus 1,439,802
Dr. Deferred tax expenses -PnL 29,525,158
Dr. Revaluation surplus + actuary gain through OCI 62,068,340
Cr. Deferred tax liability 93,033,300
Incremental depreciation
4) Dr. Revaluation surplus 19,489,612
Cr. Unappropriated profits 19,489,612
Revaluation surplus
5) Dr. PPE 459,322,504
Cr. Revaluation surplus 459,322,504
- 9,523,425 6,501,596
35109663 70,796,990
23,628,740
116,662,040
-
change in rate
44,287,737
29,234,418
688,983,756
Client Name EMCO Industries Limited
Nature: Test of details
DEFERRED TAXATION
Liability / (Asset) Liability / (Asset)

Description Carrying value Tax base Difference Liability / (Asset)
Closing Opening
28.435%
A B C=A-B D = C * 28.435% E F
Assets Closing Opening
Property, plant and equipment 1,133,220,378 343,210,728 790,009,650 23,478,770 23,478,770 13,612,038
(9,866,732)
Revaluation surplus - - - 201,160,474 201,160,474 144,098,949

(57,061,525)
Investment properties 76,180,763 76,180,763 - - - -
Right of use assets 5,284,759 - 5,284,759 1,502,721 1,502,721 2,174,855

672,134
Intangible assets 1,403,667 - 1,403,667 399,133 399,133 238,021

(161,112)
Minimum tax - ACT - 3,928,248 (3,928,248) (3,928,248) (3,928,248) -

3,928,248
Unused Tax Losses - 133,430,014 (133,430,014) (38,694,704) (38,694,704) (79,199,575)

(40,504,871)
Liabilities
Non-workmen staff gratuity - unfunded 73,930,900 - (73,930,900) (21,022,251) (21,022,251) (16,722,562)

4,299,689
Provision for doubtful debts 107,447,013 - (107,447,013) (30,552,558) (30,552,558) (28,498,165)

2,054,393
Lease liabilities 2,197,970 - (2,197,970) (624,993) (624,993) (1,351,260)

(726,267)
Provision for obsolete stores, spares and loose tools 2,189,070 - (2,189,070) (622,462) (622,462) (616,294)
6,168
Provision for obsolete stock 18,593,562 - (18,593,562) (5,287,079) (5,287,079) (4,425,412)

861,667
Provision for WPPF 15,081,149 - (15,081,149) (4,288,325) (4,288,325) (2,478,971)

1,809,354
Provision for WWF 16,510,435 - (16,510,435) (4,694,742) (4,694,742) (3,040,810)

1,653,932
Provision for doubtful advances 575,685 - (575,685) (163,696) (163,696) (162,074)

1,622
Closing deferred tax liability 116,662,040 116,662,040 23,628,740 (93,033,300)
Accelerated tax depreciation

Revaluation of property and equipment
- -
Opening deferred tax asset 23,628,740
Expense / (Income) for the period 93,033,300

As per
Particulars Book Value Advances Net Book Value
Revaluation
Free Hold Land 546,884,812 546,884,812 818,675,000
Buildings on freehold land 400,729,243 - 400,729,243 590,559,000
Plant and machinery 463,206,678 - 463,206,678 537,090,000
Total 1,410,820,733 - 1,410,820,733 1,946,324,000
Revaluation
Surplus
271,790,188
189,829,757
73,883,322
535,503,267
Client Name: Emco Industries limited
Year Ended: June 30, 2020
Computation of % age of local sales to total sales:
Ref. No. 30-Jun-21 30-Jun-20 30-Jun-19 TOTAL
1 2 3
Export sales A 34,362,279 42,118,019 21,691,205 98,171,503
Total Sale net of S.Tax B 2,077,323,535 1,608,758,627 1,385,892,713 5,071,974,875
% age of export sales C = [A/B] 1.65% 2.62% 1.57% 1.94%
Average % age of export sales of last 3 years D 1.65% 2.62% 1.57% 1.95%
%age of local sales E = [1 - D4] 98.05%

28.43450%
Tax Year 2021
Accounting year ended June 30, 2021
Revaluation Surplus
2021 rate
28.43450%
Surplus
pertaining to
TCS building Incremental Surplus / Effective Opening
Opening Surplus Effect of Change in Closing Balance
Particulars excluded from Depreciation / (Impairmet) - net of Depreciation Deferred Tax Adjusted Opening
01.07.20 Tax Rate 30.06.21
incremental Amortization deferred tax Rate 01.07.20
depreciation
calculation
Freehold land 542,838,745 (21,035,376) - - 240,816,359 762,619,728 0% - -
Buildings on freehold land 178,855,927 (26,176,283) (680,491) (9,965,158) 103,500,046 245,534,041 5% 68,105,224 68,785,715
Plant and machinery 204,440,728 - (759,311) (9,524,454) 52,874,969 247,031,932 4% 75,993,725 76,753,036
Total 926,135,400 (47,211,659) (1,439,802) (19,489,612) 397,191,374 1,255,185,701 144,098,949 145,538,751
(19,489,612)
- 47,211,659
-
2020 rate
28.15320%
Deferred Tax on
Surplus / Closing Balance
Addition Incremental
(Impairment) 30.06.21
during the Year
- - - -
- (3,439,286) 41,122,777 106,469,206
- (3,070,121) 21,008,353 94,691,268
- (6,509,407) 62,131,130 201,160,474

Tax Year 2021
Computation of normal income/ (loss)

Note No. /
Rupees
Annexure
Sales under NTR Annex "A" 2,042,961,256

Less: Expenses against local sales
Total Expenses (1,830,962,925)
Expenses against export sales Annex "A" 30,210,888
(1,800,752,037)
Add:
Other income 29 24,765,484
Total Profit / (loss) 266,974,703
Less:
Accounting gain on disposal of fixed assets -
Tax depreciation Annex "C" (97,708,926)
Tax amortisation Annex "D" (823,157)
Tax loss on disposal of fixed assets Annex "D"
Adjustment due to impact of IAS-39 (2,610,984)
Exchange Gain
FV Gain on investment properties (16,389,218)
Payment for gratuity (2,273,782)
Wppf paid (9,360,652)
Lease rentals (3,570,941)
(132,737,660)
Add:
Accounting Depreciation 97,284,467
Accounting amortisation 30 278,750
Provision for bad debts -
Depreciation and interest on lease 3,627,508
Provision for expected credit loss allowance 6,221,700
Provision for obsolescence of stock in trade 2,874,523
Liability Written back
Provision for gratuity 16,349,442
Tax gain on disposal of assets -
Interest on workers' (profit) participation fund 580,942
Provision for WPPF 15,055,567
Provision for WWF 5,709,497
147,982,396
Taxable income / (loss) for the year 282,219,439

Less: Adjustment of brought forward loss/unutilised dep (141,109,720)
Taxable income after adjustments of losses 141,109,719
Signature
Tax Year 2021
Computation of normal income/ (loss)

Note No. /
Rupees
Annexure
Computation of tax liability

A-1. Tax liability on normal income from business
Total income as above 141,109,719
Tax liability @ 29% A-1 40,921,819
A-2. Tax liability under the head property income

Rental income 29 8,639,238
Repair and maintenance allowance (1/5th) (1,727,848)
Taxable property income 6,911,390
Tax on rental income @ 29% A-1 2,004,303
Total tax liability under normal tax regine A = A-1 + A-2 42,926,122
Less: Adj of Minimum tax carry forward -
Net tax payable under NTR 42,926,122
B. Tax liability under section 113

Gross Turnover excluding exports Annex "A" 2,042,961,256
Minimum tax liability under section 113 @ 1.5% B 30,644,419
C. Tax liability under ACT

Accounting profit/(Loss) before tax 279,765,332
Less: Sales under FTR (34,362,279)
Add: Expenses relating to FTR 30,210,888
Accounting income/(Loss) for ACT 275,613,941
Tax @ 17% C 46,854,370
Total tax liability Higher of A, B or C 46,854,370
D. Tax liability under final tax regime

Export proceeds 34,362,279
Tax liability on exports @ 1% D 343,623
Tax payable of A, B or C) + D 47,197,993

Less:
Tax credit for non-equity investment in plant and machinery (US 65B) -
47,197,993
Tax liability (after adjustment of brought forward minimum tax) 47,197,993

Less: Taxes deducted at source
Adjustment of refund - U/S 147 33,000,000
Imports - U/S 148 13,412,884
Payment of goods - U/S 153 6,358,448
Exports - U/S 154 -
Cash withdrawal - U/S 231A -
Motor vehicle - U/S 234 23,500
Electricity consumption - U/S 235 1,558,592
Telephone - U/S 236 48,377
54,401,801
Tax refundable (7,203,808)
Signature
EMCO INDUSTRIES LIMITED Annexure "A-1"
#REF!
#REF!
2020 2021
Gross Sales
- Local 1,834,961,323 2,396,831,600
- Against international tender and funding - -
- Exports 42,118,019 34,362,279
1,877,079,342 2,431,193,879
Goods purchased for resale - -

Less: Sales Tax (267,987,948) (353,831,422)
Less: Trade discount (332,767) (38,922)
1,608,758,627 2,077,323,535
1598032861
10,725,766
EMCO INDUSTRIES LIMITED Annex "A"
Tax Year 2021
Computation of normal sales

Note to the
accounts Rupees
Gross Sales
- Local 27 2,042,961,256
- Against internl tender and 27
funding -
- Exports 27 34,362,279
2,077,323,535
Less: Sales Tax -
Less: Trade discount -
2,077,323,535
Total
Rupees
EMCO INDUSTRIES LIMITED Annex "C"
Tax Year 2021
TAX DEPRECIATION SCHEDULE

WDV Accumulated depreciation
Closing Normal Initial Normal
Class of assets Opening balance Addition Transfer WDV of Balance as on Rate depreciation on depreciation on depreciation Total WDV as on
as on July 1, 2020 from lease deletions June 30, 2021 % opening WDV additions and transfer on additions and transfer depreciation June 30, 2021
( R U P E E S ) ( R U P E E S )
FACTORY BUILDING 155,057,125 32,035,276 - - 187,092,401 10% 15,505,713 4,805,291 2,722,999 23,034,003 164,058,398
MACHINERY & EQUIPMENTS 74,263,346 169,465,162 - 418,548 243,309,960 15% 11,076,720 42,366,291 19,064,831 72,507,842 170,802,118
COMPUTERS 1,728,028 5,303,511 - - 7,031,539 30% 518,408 1,325,878 1,193,290 3,037,576 3,993,963
FURNITURE & FIXTURES 1,743,245 2,730,640 - - 4,473,885 15% 261,487 - 409,596 671,083 3,802,802
MOTOR VEHICLES 651,114 - - - 651,114 15% 97,667 - - 97,667 553,447
TOTAL 233,442,858 209,534,589 - 418,548 442,558,899 27,459,995 48,497,460 23,390,716 99,348,171 343,210,728
Signature
EMCO INDUSTRIES LIMITED Annex "D"
Tax Year 2021
TAX AMORTISATION ON INTANGIBLES SCHEDULE
SOFTWARES Rupees
Cost
As at July 1, 2020 8,994,898
Add: Additions during the year -

Less: Transfers during the year -
As at June 30, 2021 A 8,994,898
Amortization
As at July 1, 2020 8,157,931
Add: Amortisation (@ 10%) 836,967
Add: Amortisation on addition -
836,967
As at June 30, 2021 B 8,994,898
WDV as at June 30, 2021 A-B -
Allocation of Amortisation
Insulators division 836,967
Tiles division -
Total amortisation 836,967
Signature
EMCO INDUSTRIES LIMITED Annex "D"
Tax Year 2021
Gain on disposal of fixed assets
WDV Actual Sale Restricted Sale

Class of assets Cost Restricted Cost Profit/ (loss)
on disposal date Proceeds Proceeds
SUZUKI CULTUS 999 CC (LWJ-5021) - - - - - -

SUZUKI CUORE (LEC-3827) - - - - - -
HYUNDAI SANTRO (LZU 9241) - - - - - -
Tile Plant & Machinery - - - - - -
- - - - - -
Signature
Reconciliation with accounts

Disposals as above -
Add: Difference resulting due to residual value and carrying value of -

leased assets
Revaluation surplus
Disposal as per accounts -

Tax Year 2021
Detail of Available Credits
Brought forward depreciation and amortization losses till 2018 A

Taxable income for TY 2019 before adjustment of brought forward losses B
Set-off of brought forward losses (max. 50% of B) C
Remaining brought forward losses at 2019 D=A-C
Taxable income for TY 2020 before adjustment of brought forward losses E
Set-off of brought forward losses (max. 50% of E) F
Remaining brought forward losses at 2020 G=D-F
Taxable income for TY 2021 before adjustment of brought forward losses H
Set-off of brought forward losses (max. 50% of E) I
Remaining brought forward losses at 2021 J=G-I
Tax charged in financials

Tax as per submitted return
Taxable income before depreciation, amortization and brought forward losses

Tax amortization
Tax depreciation
Taxable income before adjustment of brought forward losses
Adjustment of brought forward losses
Net taxable income
Tax @ 29%
Tax on Property income
Total normal tax

Tax under FTR
Total Tax Chargeable

392,004,368
207,655,591
15,000,000
377,004,368
206,031,103
102,464,634
274,539,734
282,219,439
141,109,720
133,430,014
29,007,682
30,121,766
1,114,084
361,763,995 158,627,569
- 875,941 102,528,619
- 38,804,764 - 329,515
- 16,216,700
322,083,290
244,609,973
- 219,618,656 204,929,268
102,464,634
29,714,744
9,889
29,724,633
397,133
30,121,766
Tax Year 2021
Carry forward and brought forward of business losses

unabsorbed depreciation and unabsorbed amortisation
###
Tax / Assessment Unabsorbed Amortization Total Income to be Business Losses adjusted Business Loss used in Depreciation/Amortisatio Depreciation/
Years Unaborbed Depreciation Loss Business (Loss)/income adjusted / (Loss) to be against taxable income year n adjusted against Amortisation used in Lapsed/ Expired Total Adjusted / Lapsed Balance Carry Forward
carried forward year
taxable income
A B C D=A+B+C E F G=E+F D+G
1993 (8,578,368)
### ###
- - (8,578,368) - (8,578,368) 2011 - (8,578,368) -
1994 (11,504,939) - - (11,504,939) - (11,504,939) 2011 (11,504,939) -
1998 (119,839,019) - - (119,839,019) - (113,730,856) 2011, 2012, 2016 (113,730,856) (6,108,163)
1999 (38,543,650) - - (38,543,650) - (15,000,000) 2019 (15,000,000) (23,543,650)
2000 (36,225,197) - - (36,225,197) - - - (36,225,197)
2001 (28,596,269) - (24,250,151) (52,846,420) (24,250,151) 2007 - (24,250,151) (28,596,269)
2002 (19,922,809) - (72,580,012) (92,502,821) (16,445,204) 2007, 2008 - (56,134,808) (72,580,012) (19,922,809)
2003 (2,497,992) - - (2,497,992) - - - (2,497,992)
B/F from 2006 to 2010 as

per order u/s 122 dated
25.06.16 (197,161,281) - - (197,161,281) - - - - (197,161,281)
2011 (54,775,562) (398,747) 75,396,402 20,222,093 - - - - -
2012 (50,104,469) (598,643) 80,808,771 30,105,659 - - - - -
2013 (40,445,249) (602,142) 29,400,791 (11,646,600) - - - - (11,646,600)
2014 (27,028,606) (585,790) (29,652,647) (57,267,043) (29,652,647) 2017 - - (29,652,647) (27,614,396)
2015 (23,103,575) (584,436) (5,832,078) (29,520,089) (5,832,078) 2017 (5,832,078) (23,688,011)
2016 (29,736,032) (576,445) 113,798,888 83,486,411 - - - - -
2017 (27,619,865) (899,490) 146,836,312 118,316,957
(715,682,882) (4,245,693)### 313,926,276### (406,002,299)### (76,180,080) (148,814,163) (56,134,808) (281,129,051) (377,004,368)
2018 (37,180,571) (899,490) 90,851,779 52,771,718 - - - - - -
2019 (40,811,883) (899,490) 249,334,833 207,623,460 - - - - - -
2020 (99,348,171) (836,967) 382,404,577 282,219,439 - - - - - -

###
Total (893,023,507) (6,881,640) 1,036,517,465 136,612,318 (76,180,080) (148,814,163) (56,134,808) (281,129,051) (377,004,368)
Summary (6,108,163) (392,004,368)

Unabsorbed depreciation carried forward (375,843,487) (56,592,888)
Unabsorbed amortisation carried forward (1,160,881) (388,756,065)
Business losses carried forward -
Tax Year 2021
Carry forward and brought forward of minimum tax

###
Carry Forward of Minimum Tax US 113
Difference of Difference of Adjusted

Tax / Assessment Minimum tax Alternate Normal tax on minimum tax to minimum tax against taxable Lapsed/ Total Adjusted / Balance Carry
Years for the year Corporate Tax (If taxable income be carried and ACT to be income for the Expired/Adjuste Lapsed Forward
applicable) forward carried forward year d
A A1 B C=A-B D=A1-A D E F=D+E G=C-F
2009 - - - - - - - - -
2010 6,998,590 - - 6,998,590 - Lapsed 6,998,590 6,998,590 -
2011 17,516,681 - - 17,516,681 - Lapsed 17,516,681 17,516,681 -
2012 17,939,545 - - 17,939,545 - 2,017 17,939,545 17,939,545 -
2013 7,548,076 - - 7,548,076 - 2,017 7,548,076 7,548,076 -
2014 8,816,146 - 11,879 8,804,267 - 2017, 2018 8,804,267 8,804,267 -
2015 7,385,297 - 18,103 7,367,194 - 2018 , 2019 7,367,194 7,367,194 -
2016 9,848,622 - 51,095 9,797,527 - 2,019 9,797,527 9,797,527 -
2017 8,885,197 10,765,096 25,729,334 8,885,197 2,019 8,885,197 8,885,197 -
84,938,154 10,765,096### 25,810,411### 84,857,077### - ### ### 84,857,077### 84,857,077### -
2018 13,590,308 - 15,885,789 13,590,308 - 2,019 13,590,308 13,590,308 -

2019 30,644,419 46,854,370 42,926,122 - - - - -
###
Total 129,172,881 57,619,466 84,622,322 98,447,385 - 98,447,385 98,447,385 -

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10.

check guarantee and lc figures with confirmations - askari

as at the reporting date date is as follows:

017 and the rules formulated for this purpose.

dollar-denominated financial assets and liabilities.

ion of US dollar-denominated financial assets and liabilities.

5.92 5.91 252,998,539

Share Capital and Reserves

Authorized share capital

Issued, subscribed and paid up capital

Long term financing 8 131,293,475 213,797,385

Trade and other payables 12 326,561,575 272,258,522

Contingencies and Commitments 16 - -

Non Current Assets

Property, plant and equipment 17 1,887,889,951 1,362,665,573

Stores, spares and loose tools 22 84,461,760 80,613,844

EMCO INDUSTRIES LIMITED

Revenue 27 2,035,456,797 1,598,032,861

Gross Profit 485,499,251 379,572,694

Administrative expenses 29 (87,383,452) (78,744,789)

Operating Profit 365,808,246 269,951,564

Other operating expenses 31 (31,925,727) (14,924,431)

Profit before Taxation 279,765,332 163,078,319

Taxation 34 (77,837,235) (45,179,356)

Net Profit for the Year 201,928,097 117,898,963

Earnings per Share - Basic and Diluted 35 5.77 3.37

CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER

EMCO INDUSTRIES LIMITED

Net Profit for the Year 201,928,097 117,898,963

Other comprehensive income

Items that will not be reclassified to profit or loss

Actuarial (losses) / gains due to experience adjustments 10.2.1 (220,824) 791,483

Revaluation surplus on property, plant and

Items that may be reclassified to profit or loss - -

Other comprehensive income - net of tax 397,033,340 189,596,520

Total Comprehensive Income for the Year 598,961,437 307,495,483

CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER

EMCO INDUSTRIES LIMITED

Net profit for the year - - - 117,898,963 117,898,963 - - 117,898,963

Incremental depreciation for the year on surplus

Effect of change in effective tax rate - - - - - - 259,846 259,846

Net profit for the year - - - 201,928,097 201,928,097 - - 201,928,097

Incremental depreciation for the year on surplus on

Effect of change in effective tax rate - - - - - - (1,439,802) (1,439,802)

CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER

EMCO INDUSTRIES LIMITED

CASH FLOWS FROM OPERATING ACTIVITIES

Cash Generated from Operations 36 287,173,417 326,102,759

Long term prepayments and other receivables 3,885,091 4,586,847

Finance cost paid (69,967,338) (83,240,883)

Net Cash Generated from Operating Activities 164,040,608 199,233,724

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of property, plant and equipment (36,653,874) (77,143,634)

Net Cash Used in Investing Activities (182,700,546) (53,368,556)

CASH FLOWS FROM FINANCING ACTIVITIES

Repayment of long term financing (103,698,392) (79,092,329)

Net (Decrease) / Increase in Cash and Cash Equivalents (3,324,100) 38,676,620

CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER

EMCO INDUSTRIES LIMITED

The geographical location and address of Company including mills/plant is as under:

Business unit Geographical location

2.1 Statement of compliance

- Provisions of and directives issued under the Companies Act, 2017

2.2 Basis of measurement