CONTENTS
Company Information
Directors' Report
Condensed Interim Statement of Financial Position
Condensed Interim Statement of Profit or Loss and other Comprehensive Income
Condensed Interim Statement of Cash Flows
Condensed Interim Statement of Changes in Equity
Notes to the Condensed Interim Financial Statements
COMPANY INFORMATION
Chairman
Board of Directors
Audit Committee
Human Resources and Remuneration CommitteeManagement Committee
Chief Financial Officer
Company Secretary
Bankers
Auditors
Legal Advisor
Share Registrar
Registered Office
Factories
Sales & Marketing Offices
M Veqar Arif
Mujtaba Rahim
Marcos Furrer
Michel Zumstein
Shahid Ghaffar
Thomas Bucher
Yasmin Peermohammad
Shahid Ghaffar
Michel Zumstein
M Veqar Arif
Irfan Lakhani
Yasmin Peermohammad
Michel Zumstein
Mujtaba Rahim
Irfan Lakhani
Mujtaba RahimIrfan ChawalaMuhammad AltafIrfan Chawala
Irfan Lakhani
Bank Al Habib Limited
Habib Bank Limited
- Chief Executive Officer
(Alternate: Irfan Chawala) (Alternate: Naveed Kamil)
- Chairman
(Alternate: Naveed Kamil)
- Secretary
- Chairperson
- (Alternate: Naveed Kamil)
- Secretary
Naveed KamilQazi Naeemuddin
Habib Metropolitan Bank Limited
MCB Bank Limited
Meezan Bank Limited
National Bank of Pakistan
Standard Chartered Bank (Pakistan) Limited
KPMG Taseer Hadi & Co. Chartered Accountants
Fazleghani Advocates
FAMCO Associates (Pvt) Limited
8-F, Next to Hotel Faran, Nursery Block-6, P.E.C.H.S., Shahra-e-Faisal, Karachi
1-A/1, Sector 20,
Korangi Industrial Area, Korangi, Karachi
Petaro Road, Jamshoro
LX-10, LX-11, Landhi Industrial Area, Karachi
Katar Bund Road, Off. Multan Road,
Thokar Niaz Baig, Lahore
Website
P-277, Kashmir Road, Amin Town, FaisalabadB 157 Lalarukh, Wah Canttwww.archroma.com.pkarchroma.pakistan@archroma.com
REPORT OF BOARD OF DIRECTORS
The Directors of your Company are pleased to present the financial report for half-year ended 31 March 2022, together with the condensed interim financial information of the Company for the period ended 31 March 2022, as reviewed by the external auditors.
year. Contribution to this strong overall sales growth of 32% has come from positive contributions of all the businesses i.e Brand & Performance Textile Specialties, Coating Adhesives & Sealants, Packaging & Paper Specialties & New markets.
COMPOSITION OF BOARD
The composition of the Board is as follows:
a) Male members: 6
b) Lady member: 1
Out of the above:
a) Executive Director: 1
b) Non-Executive Directors: 4
c) Independent Directors: 2
Higher freight & logistics costs and significant devaluation of PKR against USD and other foreign currencies during the quarter has adversely impacted the bottom-line profitability, however, higher topline sales performance & growth has enabled your Company to attain after tax profits of PKR 1,314 million during the half year under review against PKR 1,102 million for the same period last year.
FUTURE OUTLOOKBUSINESS OVERVIEW
Pakistan's Textile exports continued to remain strong during the first half of the ongoing Financial Year 2022, which has also positively contributed to your Company's overall performance. However, local market Textiles' sales & construction activity slowed down during the quarter under review, mainly due to higher energy & commodity prices and double-digit inflation in other costs.
Your Company achieved net sales of PKR 13,247 million during the half year ended 31 March 2022 against PKR 10,041 million in comparison to the same period lastThe ongoing Russia-Ukraine conflict, Global Energy and Commodities price and availability situation and consequential adverse Balance of Trade of Pakistan, makes the future outlook for Textiles Exports & Construction Industry, somewhat uncertain.
However, the Management is positive that with the available export orders with our customers and Archroma's strong projects pipeline to further increase its Market Share and with our recent success and business development in New markets' Home care business, your Company is expected to maintain profitable growth momentum in short to medium term.
On behalf of the Board
Mujtaba Rahim Chief Executive Officer
Karachi: 27 April 2022
Irfan Chawala
Director
10,041
1,3141,102
13,247
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Archroma Pakistan Ltd. published this content on 28 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2022 07:44:08 UTC.