half yearly accounts - fatima groupfatima-group.com/updata/files/files/167_20190227162041.pdf ·...
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December 31, 2018(Un-Audited)
Half YearlyAccounts
For the Period of Six Months EndedDecember 31, 2018
Reviewed InterimFinancial Statements
02 Reliance Weaving Mills Limited
Shares Registrar
M/s CDC Pakistan Ltd. Mezzanine Floor,
19 - Khyaban-e -Aiwan -e -Iqbal , LSE Plaza Lahore.
[email protected] & [email protected]
Company Information
Board of Directors
Non-Executive Directors
Independent Directors
Mr. Fawad Ahmed Mukhtar
(Chairman)
Dr. M. Shoukat Malik
Mr. Fahd Mukhtar
Mr. Shahid Aziz
Mrs. Fatima Fazal
Executive Directors
Mr. Fazal Ahmed Sheikh
Mr. Faisal Ahmed Mukhtar
Board Committees
Audit Committee
HR & Remuneration Committee
Risk Management Committee
Mr. Shahid Aziz
(Chairman)
Dr. M. Shoukat Malik
(Chairman) Mr. Faisal Ahmed Mukhtar (Chairman)
Mr. Fahd Mukhtar
(Member)
Mr. Faisal Ahmed Mukhtar (Member) Mr. Shahid Aziz (Member)
Dr. M. Shoukat Malik
(Member)
Mr. Fahd Mukhtar
(Member) Dr. M. Shoukat Malik (Member)
Executive Management Team
Chief Executive Officer
Chief Financial Officer Company Secretary
Mr. Fazal Ahmed Sheikh
Mr. Waheed Ahmed Mr. Aftab Ahmed Qaiser
GM Weaving
GM Spinning (Multan) GM Marketing
Mr. Ikram Azeem Mr. Muhammad Shoaib Alam Khawaja Sajid
Mr. Aqeel Saifi
Auditors & Shares Registrar
External Auditors
Chartered Accountants, HM House, 7-Bank Square, Lahore.
Bankers /Financial Institutions
Bank Islami Pakistan Ltd Allied Bank Ltd
Al -Baraka Bank Pakistan Ltd Bank Al Falah Ltd
Habib Metropolitan Bank Ltd The Bank of Punjab
Dubai Islamic Bank Pakistan Ltd The Bank of Khyber
Pak China Investment Company Ltd First Habib Modaraba
Pak Libya Holding Company (Pvt) Ltd National Bank of Pakistan
Pak Brunei Investment Company Ltd Saudi Pak Industrial and
Standard Chartered Bank (Pakistan) Ltd Agricultural Investment Company Ltd
Askari Bank Ltd (Islamic banking Services)
MCB Bank Ltd
Sindh Bank Ltd
Habib Bank Ltd
Faysal Bank Ltd
Soneri Bank Ltd
Samba Bank Ltd
United Bank Ltd
Summit Bank Ltd
Meezan Bank Ltd
Sites AddressUnit # 1,2,4 & 5
Fazalpur Khanewal Road, Multan.
Phone & Fax 061-6740020 -3 & 061-6740039
Business OfficesRegistered Office
2nd Floor Trust Plaza, LMQ Road, Multan.
Tel # 061-4512031-2, 061-4546238
Fax # 061-4511677, 061-4584288
e mail: info@fatima -group.com
Unit # 3
Mukhtarabad, Chak Beli Khan Road, Rawat, Rawalpindi.
Phone & Fax 051-4611579 -81 & 051-4611097
Head Office
E -110, Khyaban -e -Jinnah Lahore.
Tel # 042-35909449, 042-111-328-462,
Fax: 042 -36621389
Website: www.fatima-group.com
ShineWing Hameed Chaudhri & Co.
ENTITY RATING OFRELIANCE WEAVING MILLS LIMITED
ENTITY RATING OFRELIANCE WEAVING MILLS LIMITED
Long Term A-
Short Term A2
CREDIT RATING AGENCY
03Reliance Weaving Mills Limited
On Behalf of Board of Directors
Fazal Ahmed Sheikh(Chief Executive Officer)
Date: February 26, 2019Place: Lahore
Dear Members,
On the behalf of the Board of Directors, I am pleased to present 2nd quarterly Financial
Statements of the company for the period ended December 31, 2018.
Financial Highlights
The company earned net profit of Rs 200 million during the period as compared to Rs. 66
million. Turnover of the company has improved from Rs 6,454 million to Rs 7,127 million, which
is 10% increase. Profitability improved due to cotton stock of last year at competitive price and
one-time wind fall gain of RS 100 million due to PKR devaluation against USD.
Cotton production in Pakistan remained closer to 10 million bales leaving shortfall of 5 million
bales. Export performance is not encouraging during this period. Knitwear and Garment sector
shows export growth only. There is severe pressure of price from customer due to devaluation
of PKR negating the benefit of devaluation. The company during the period imported 48 high
speed looms which are running currently and shall improve profitability of the company.
Director's Reveiw To The Members
04 Reliance Weaving Mills Limited
05Reliance Weaving Mills Limited
2018
SHINEWING HAMEED CHAUDHRI & CO.,CHARTERED ACCOUNTANTS
Date: February 26, 2019Place: Lahore
Independent Auditors' Review Report to the Members
06 Reliance Weaving Mills Limited
Sd/-Director
Reliance Weaving Mills Limited 07
Sd/-Chief Financial Officer
Sd/-Chief Executive Officer
Condensed Interim Statement of Financial PositionAs at December 31, 2018
Condensed Interim Statement of Profit Or Loss (Un-audited)For The Quarter And Six Months Period Ended December 31, 2018
Sd/-Director
Sd/-Chief Financial Officer
Sd/-Chief Executive Officer
08 Reliance Weaving Mills Limited
Condensed Interim Statement of Comprehensive Income (Un-audited)For The Quarter And Six Months Period Ended December 31, 2018
Sd/-Director
Sd/-Chief Financial Officer
Sd/-Chief Executive Officer
09Reliance Weaving Mills Limited
Condensed Interim Statement of Changes in Equity (Un-audited)For The Six Months Period Ended December 31, 2018
Sd/-Director
Sd/-Chief Financial Officer
Sd/-Chief Executive Officer
10 Reliance Weaving Mills Limited
Condensed Interim Statement of Cash Flows (Un-audited)For The Six Months Period Ended December 31, 2018
Sd/-Director
Sd/-Chief Financial Officer
Sd/-Chief Executive Officer
11Reliance Weaving Mills Limited
Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018
12 Reliance Weaving Mills Limited
13Reliance Weaving Mills Limited
Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018
14 Reliance Weaving Mills Limited
Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018
15Reliance Weaving Mills Limited
Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018
16 Reliance Weaving Mills Limited
Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018
17Reliance Weaving Mills Limited
Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018
18 Reliance Weaving Mills Limited
Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018
19Reliance Weaving Mills Limited
Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018
20 Reliance Weaving Mills Limited
Notes to Condensed Interim Financial Statements (Un-audited)For The Six Months Period Ended December 31, 2018