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    This document is a statement of financial position as of June 30, 2018 for Mughal Iron & Steel Industries Limited. It shows that the company had total assets of Rs. 17.47 billion, including non-current assets of Rs. 6.34 billion and current assets of Rs. 11.13 billion. On the liabilities side, it had total equity of Rs. 7.47 billion and total liabilities of Rs. 10 billion, including non-current liabilities of Rs. 1.6 billion and current liabilities of Rs. 8.41 billion. The statement was signed by the Chief Executive Officer, Chief Financial Officer, and a Director.

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    This document is a statement of financial position as of June 30, 2018 for Mughal Iron & Steel Industries Limited. It shows that the company had total assets of Rs. 17.47 billion, including non-current assets of Rs. 6.34 billion and current assets of Rs. 11.13 billion. On the liabilities side, it had total equity of Rs. 7.47 billion and total liabilities of Rs. 10 billion, including non-current liabilities of Rs. 1.6 billion and current liabilities of Rs. 8.41 billion. The statement was signed by the Chief Executive Officer, Chief Financial Officer, and a Director.

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    © All Rights Reserved
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    4 views1 page

    Sofp 18

    Uploaded by

    Saad Salman
    This document is a statement of financial position as of June 30, 2018 for Mughal Iron & Steel Industries Limited. It shows that the company had total assets of Rs. 17.47 billion, including non-current assets of Rs. 6.34 billion and current assets of Rs. 11.13 billion. On the liabilities side, it had total equity of Rs. 7.47 billion and total liabilities of Rs. 10 billion, including non-current liabilities of Rs. 1.6 billion and current liabilities of Rs. 8.41 billion. The statement was signed by the Chief Executive Officer, Chief Financial Officer, and a Director.

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    © All Rights Reserved
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    of 1

    STATEMENT OF FINANCIAL POSITION

    AS AT JUNE 30, 2018

    Rupees Note
    2018 2017

    ASSETS
    NON - CURRENT ASSETS
    Property, plant and equipment 7. 6,304,748,282 4,250,865,732
    Intangible asset 8. 12,268,143 –
    Long-term loans to employees 9. 6,570,659 5,640,118
    Long-term deposits 10. 20,845,317 18,258,313
    6,344,432,401 4,274,764,163

    CURRENT ASSETS
    Stores, spares and loose tools 11. 597,197,788 462,744,037
    Stock-in-trade 12. 5,319,720,401 5,381,802,193
    Trade debts 13. 1,263,279,786 1,347,038,735
    Loans and advances 14. 373,907,586 289,764,961
    Deposits, prepayments and other receivables 15. 26,945,193 57,838,052
    Due from the government 16. 2,298,101,893 1,870,882,567
    Cash and bank balances 17. 1,251,171,472 2,338,891,995
    11,130,324,119 11,748,962,540
    17,474,756,520 16,023,726,703

    EQUITY AND LIABILITIES
    SHARE CAPITAL & RESERVES
    Authorized share capital 18. 3,000,000,000 3,000,000,000

    Issued, subscribed and paid-up capital 19. 2,515,996,500 2,515,996,500


    Reserves 20. 4,026,299,038 2,897,064,570
    Equity contribution from Directors & their relatives 21. 924,037,217 1,224,037,217
    7,466,332,755 6,637,098,287

    LIABILITIES
    NON - CURRENT LIABILITIES
    Long-term financing 22. 829,000,000 –
    Deferred liabilities 23. 770,956,499 643,052,537
    1,599,956,499 643,052,537

    CURRENT LIABILITIES
    Trade and other payables 24. 463,465,446 615,104,317
    Unclaimed dividend 3,303,075 16,127,596
    Accrued profit / interest / mark-up 25. 101,322,923 66,546,870
    Short-term loans from banking companies 26. 7,540,375,822 7,977,002,224
    Short-term loans from Directors and their relatives 27. 300,000,000 37,082,301
    Current portion of long-term financing 22. – 31,712,571
    8,408,467,266 8,743,575,879
    10,008,423,765 9,386,628,416
    17,474,756,520 16,023,726,703

    CONTINGENCIES AND COMMITMENTS 28.
    The annexed notes from 1 to 52 form an integral part of these financial statements.

    Khurram Javaid Muhammad Zafar Iqbal Muhammad Mubeen Tariq Mughal


    Chief Executive Officer Chief Financial Officer Director

    90 MUGHAL IRON & STEEL INDUSTRIES LIMITED

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